Business Tuesday, March 11, 2014 Argus Sir Terry Matthews


Confidence still growing among Welsh business


By Jo Barnes 01633 777240 jba@gwent-wales.co.uk Twitter @SWABusiness


BUSINESSES in Wales, including those inGwent, are continuing to feel confident as the economic improve- ment gains momentum, according to the latest ICAEW/Grant Thornton UK Business Confidence Monitor. The report shows confidence


inWales is on a general upward trend since Q3 2012 and now stands at +30.9, well above its reading from a year earlier. Despite that, confidence is belowtheUKnational average of +37.2. The report comes on the same


day the British Chambers of Commerce is forcasting theUK economy will exceed its pre- recession peak by the summer.


TheBCCbelieves theUKwill


grow by 2.8 per cent this year and that the second quarter will seeGDPclimb back to the level seen in the first quarter of 2008. Ayear ago amid a much gloomier picture for the econo- my, theBCCpredicted the pre- recession peak would not be reached until 2016, although a number of revisions brought this forward to the third quarter of 2014 in December. While it has taken more than


six years to return the economy to the position it was in before it nosedived, it abates earlier fears of a lost decade. BCCdirector general John Longworth said: “Our economic recovery is gaining momentum. Businesses across theUKare expanding and creating jobs, and our increasingly sunny pre- dictions for growth are a testa- ment to their drive and ambi- tion.” TheBCCexpects the first increase in interest rates will


happen in the autumn next year – one quarter earlier than previ- ously envisaged, before rising to 1.5 per cent in the second half of 2016.GDPwill be 2.5 per cent next year and in 2016. However,MrLongworth said


it was not time to break out the champagne, particularly as business investment is likely to remain belowpre-crisis levels for some time to come. He added: “Major issues remain, such as the unaccepta- bly high level of youth unem- ployment.Weurge the Chancellor to use this month’s Budget wisely by incentivising businesses to hire young people so that the next generation of workers are not left behind. “We just hope that as the gen-


eral election gets closer, politi- cians are not tempted to aban- don a drive for long-termeco- nomic security in favour of short-termvote winners. “No government over the next lTurn to page 4


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Technology event set to return to Celtic Manor


A MAJOR technology event will return to the Celtic Manor in June to bring together world-leading ICT experts with more than 1,100 delegates from the Welsh business and education sectors. Following a successful first


year in 2013, Digital 2014 will return with a new focus, including a day dedicated entirely to young people and technology. The two-day event will bring


global technology companies to Wales to share their insights on the cutting-edge trends underpinning the digi- tal economy. The first day (June 9) will


focus on technology and edu- cation, giving around 500 young people, employers and educators from Welsh schools and universities a platform to voice their views on how they can contribute to the digital economy and how educators and employers can be flexible


to maximise their potential. Facilitated by technology


outreach organisation TeenTech, the day will place into sharp focus issues includ- ing digital skills provision, women in technology, entre- preneurialism and innovation. The second day (June 10)


will focus on technology in industry and world-leading IT firms including IBM, HP and Logicalis will demonstrate how megatrends like Cloud, Mobility, Analytics and Security are transforming the way business is done across the globe. As well as featuring keynote


talks, workshops and semi- nars, a marketplace area will bring buyers and suppliers of all sizes together to facilitate new opportunities for busi- ness. The full speaker line-up will


be announced in the coming months. Last year’s event Turn to page 2


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