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07/01/2009 19:04:44
CLA Rural Economy Index reveals higher confidence in rural economy
Confidence in the rural economy is higher than in the economy as a whole, according to the new quarterly CLA Rural Economy Index – the CLA REI.
The CLA surveyed a cross section of the rural economy across England and Wales - totalling 100 rural business members and found that only five percent had no confidence in the rural economy over the next three to six months - compared to 42 percent with the economy in general.
Furthermore, 50 percent expected their firms to be able to perform according to their business plans and 16 percent even expecting their rural business to perform well with potential for growth over the next three to six months.
Douglas Chalmers, Director CLA North, said: "It’s very tempting to put our heads in our hands and think the worst, but the CLA REI clearly reveals the comparative strength of our rural economy – and these are the views of the people who are directly involved and are best placed to know.
"The rural economy in the North West punches above its weight. 40% of the region’s VAT registered businesses are in rural areas, where there is only about 20% of the population. We have heard anecdotal evidence that the rural economy – mainly through its heavy reliance on necessary food production – should be better placed to come out of a recession, but this is the first time we have had such direct evidence. Now we must now do is to ensure that we remove barriers to, and even provide incentives for, rural enterprise.
The CLA says that it is launching this quarterly economic indicator because the rural economy is often overlooked, despite the small businesses that operate in the countryside being the backbone of this nation’s economy as a whole. Dr Charles Trotman, the CLA’s Head of Rural Business Development, said: "The CLA REI is to gauge the level of confidence in the rural economy. Every quarter, we will survey 100 rural business members from a wide spectrum of businesses and regions, giving an up-to-date indication of the economic state of the rural economy."
The CLA surveyed a cross section of the rural economy across England and Wales - totalling 100 rural business members and found that only five percent had no confidence in the rural economy over the next three to six months - compared to 42 percent with the economy in general.
Furthermore, 50 percent expected their firms to be able to perform according to their business plans and 16 percent even expecting their rural business to perform well with potential for growth over the next three to six months.
Douglas Chalmers, Director CLA North, said: "It’s very tempting to put our heads in our hands and think the worst, but the CLA REI clearly reveals the comparative strength of our rural economy – and these are the views of the people who are directly involved and are best placed to know.
"The rural economy in the North West punches above its weight. 40% of the region’s VAT registered businesses are in rural areas, where there is only about 20% of the population. We have heard anecdotal evidence that the rural economy – mainly through its heavy reliance on necessary food production – should be better placed to come out of a recession, but this is the first time we have had such direct evidence. Now we must now do is to ensure that we remove barriers to, and even provide incentives for, rural enterprise.
The CLA says that it is launching this quarterly economic indicator because the rural economy is often overlooked, despite the small businesses that operate in the countryside being the backbone of this nation’s economy as a whole. Dr Charles Trotman, the CLA’s Head of Rural Business Development, said: "The CLA REI is to gauge the level of confidence in the rural economy. Every quarter, we will survey 100 rural business members from a wide spectrum of businesses and regions, giving an up-to-date indication of the economic state of the rural economy."
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