Good riddance to 2020. It has been a year to forget for so many businesses. From , and the , Covid-19 has been one great big unwelcome disruptive force.
There's no magic wand and despite unprecedented levels of financial support from government, the South West has been predicted to be one of the worst affected regions because of the Covid-19 outbreak.
It is an economy highly reliant on tourism and hospitality - and these sectors have taken a huge hit this year, suffering from two lockdowns and ongoing tier restrictions.
But let's look to the future now. Here is what's on the wish list for 2021.
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Kim Conchie, chief executive, Cornwall Chamber of Commerce
2020 good riddance! It really has been one of the most topsy-turvy years for business as for every other aspect of life and I hope with the vaccine imminent we move to more stable times in 2021.
Despite all the upheaval, the Covid crisis has accelerated some changes in working life and perceptions that will play to Cornwall’s strengths – and indeed, the .
More knowledge workers who tend to attract higher wages, can now work remotely so many will choose to do this from rural and coastal South West Peninsula locations; our clean and green growth plans garner more and more interest and there is no reason why Cornwall can’t be an important player in lithium supply, geothermal and floating offshore wind energy.
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Our agricultural methods and agri-food quality are second to none. Our tech sector continues to grow, enabled by superfast broadband. And any business associated with home purchase, improvement, DIY will continue to flourish as people realise they can live and work in a wonderful place.
Cornwall Chamber of Commerce will redouble efforts to help businesses through the next tough six months as loans start to become repayable, VAT holiday ends and rate rebates complete.
But if we can get through the next 90 days of those bumps and Brexit, I think we can lead some sectors for the next 90 years.
On Brexit, I have every confidence that business people will find ways to get through the doldrums. Have a relaxing break and build up your energy for another enthralling year.
Sado Jirde, director of Black South West Network (BSWN)
In March 2020, the Black South West Network (BSWN) evaluated the impact of Covid-19 on the black business community. We identified a range of systemic socio-economic barriers facing black entrepreneurs and workers.
Among these, we discovered a lack of access to government support and over-representation of black self-employed workers and businesses in the hardest-hit sectors such as food, retail, arts, culture, and low-income and insecure employment.
Research has also shown the virus and lockdown rules have exacerbated pre-existing structural inequalities in economic terms, but also in other areas such as housing and mental and physical health.
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In order to tackle these trends and build an effective recovery response that will work towards achieving equality and equity for all, we need to take action to effectively respond to increasing economic inequality in our society.
In the short term, we recommend targeted support to increase black businesses’ access to financial resources and the provision of business funds dedicated specifically to those businesses that were already facing significant structural barrier.
Looking at the labour market, the biggest post-pandemic challenge is building an equitable approach that will increase access to high income jobs for all.
An approach that maximises on the resilience of the black-led sector and builds on its capacity, skillsets and flexibility, is our best option to achieve stability and long-term financial sustainability.
Stuart Elford, chief executive of Devon and Plymouth Chamber and chair of British Chambers of Commerce South West
After what has been the most challenging year for business in most people’s memory, I am hopeful of a swift roll-out of the vaccine and a return to normal business operations as soon as possible.
I believe that business can bounce back quicker than some of the predictions as pent up demand is released and people enjoy the freedom to spend time and money as they want.
Learning the lessons of the pandemic and adopting best practice, but enjoying these new found freedoms, there is a great opportunity for our region to be recognised as a great place, to live, work and do business.”
Zara Nanu, chair of Women in Business Task Group, Global Future Council for Equity and Social Justice and chief executive of Gapsquare
2020 has been a brutal year for both public health and the economy. But various stakeholders in Bristol - businesses, local and regional government, charity and community groups - have all been working relentlessly on plans to come back stronger, fairer and greener. It was such a Bristol thing to do, and the partnerships and conversations have been humbling and inspiring.
2021 is inevitably going to have to be about implementing these plans and experimenting with new digital technologies, new ways of blended working, and new ways to value input in the local economy. And we will have to start with how we measure what is important for business success.
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We currently use the GDP to track economic progress. But this year has been a reminder for us all (businesses and policy makers in particular) that what we need and value most as a humanity are care, mental health and wellbeing, environmental sustainability. These are not valued in current GDP approaches and are considered low productivity areas.
Business as usual and GDP as usual is no longer an option, and I am really excited about the role businesses in Bristol are going to take in putting these very significant issues at the forefront of business activity.
Tim Jones, chair of the South West Business Council
It would be easy to adopt a negative view of how 2021 will pan out. There is no doubt that 2020 has been both a hell of a year and a year of hell. Have we ever experienced such a perfect storm?
What we do know, is that the South West has always proved its ability to be the first out of the traps when faced with some real challenges.
I never fail to be amazed by the number of brilliant small businesses we have been operating from third bedrooms, garages or converted barns, which are not only breaking new ground but challenging even international markets.
While we rightly complain about the quality of our digital infrastructure and lament the lack of quality in up and download speeds and mobile phone signals, the reality is that for at least 85 per cent of our business communities we have more than adequate ability to access digital markets worldwide.
This capability is going to be one of the reasons why 2021 is a year of opportunity for all types of businesses across the South West.
What is also clear, is that we should not expect any handouts from government. The rhetoric around levelling up regional economies and reducing the vice like grip the Treasury has on the purse strings is simply not going to happen.
We need to move away from constant whinging to Whitehall with our “asks”. This is the time to get on with it. We might then recognise and focus on some of the absolutely fabulous opportunities we have and the unique potential that resides within the Peninsula.
This region can prosper by uniting businesses and communities who can take ownership of our growth prospects.
I have every confidence that the South West will be leading the way in breaking free of much of the baggage that has held us back and showing how we can finally put the pandemic behind us and capitalise upon the new and exciting opportunities which will inevitably arise in the post-European era.
Paul Crawford, chief executive of LiveWest
First and foremost, we are really excited that a vaccine for Covid-19 has been approved and is being rolled out across the South West. It means we will be able to return to some form of normality, hopefully by the spring of next year.
The economic impact of Covid and the potential challenges caused by Brexit, means there is a lot to do and there has to be an absolute focus on the economic recovery for the region.
Investment, creating jobs and ensuring existing jobs are sustained through uncertain times, will be fundamental to the recovery.
We have a great opportunity here in the South West to ensure we create the right economic conditions for confidence in investment moving forwards.
On a macro level, it is imperative there is investment in roads, rail, housing and digital technology. What is crucial is that we have regional coordination and collaboration where stakeholders and decision-makers are singing from the same hymn sheet when it comes to aligning the economic recovery priorities.
More on the economy of the South West
Housing should be an integral part of the region’s investment in infrastructure. Good quality, affordable homes, whether to buy or rent, in economically uncertain times is a cornerstone of a well-functioning society.
If we have an ambition to create jobs, we need to have the homes for people to live in at a price they can afford. With house prices typically 10 times more than average salaries across the region, LiveWest is committed to supporting the region’s economic revival with significant investment in providing affordable homes.
Susan Davy, CBI South West chair
There can be no doubt that 2020 has been a year dominated by the uncertainty of Covid, where the devastation of businesses and society has been felt every single day in so many ways.
In time, we will understand the full effect of the pandemic and the longer-term impact on our great nation’s health, economy and society.
With a vaccine roll-out underway, there are, however, tangible reasons for optimism. I believe 2021 is the year for responsible business, with a focus on building back better towards a more sustainable future.
This will require a collaborative approach across the South West. By working together, businesses have an opportunity to make a bigger and more societal contribution – whether that’s working closely with education to tackle skills gaps, create jobs and promote social mobility, or working with the hospitality and tourism trade in the South West to support regeneration, enabling everyone to enjoy the benefits our region has to offer.
The good news is that the South West is well placed for the future. It is rich in advanced engineering and digital innovation, a 海角视频 leader in aerospace, and a pioneer in automotive, nuclear and marine renewables industries.
The region boasts world-class climate expertise, is a micro-electronics powerhouse and a national exemplar for smart cities. All of this is supported by outstanding universities.
Building on these strengths can reinforce the South West’s national importance and grow its international influence. Doing so can deliver growth, increased productivity, and greater green prosperity and opportunity for all.
Steve Gerry, secretary to Plymouth Manufacturers Group
I hope that we enter the New Year with clarity of arrangements for the post-Brexit transition date. Preferably based on a trade deal that will avoid tariffs and quotas.
I hope the economy returns to growth as quickly as possible after the pandemic and the manufacturing sector continues to punch above its weight in the local Plymouth economy.
Also, I hope our overseas investors continue to see the merits in operating in the 海角视频 from the South West and that our regional strengths develop over time.
I also hope the government’s "levelling up agenda" recognises inequality and disadvantage wherever it exists in the country and not just within the north of England.
Allied to this, that the 海角视频 Shared Prosperity Fund truly replaces what we have become accustomed with European Union structural and social funding.
Robert Lloyd Griffiths, national director of the IoD South West and Wales
2020 has been an incredibly difficult and challenging year for us all but as we look forward to 2021, we should reflect on some of the positives.
The pandemic has created a keener sense of community and how important it is to support each other. I believe this ‘local thinking’ will continue in 2021, not least because of Brexit which is simply a moving target for directors right now.
Disrupted supply chains have put the focus on sourcing and selling locally rather than globally. It also makes sense from an environmental and sustainable perspective.
Digital platforms will continue to be at be at the forefront of many of our businesses – we’ve all become more digitally competent and business has had to embrace this in terms of reaching many of its customers effectively.
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Social platforms will be less marketing tools and more a transactional necessity. Business model innovation will also remain key. We’re not out of the woods yet and those businesses that have reacted swiftly and creatively, such as restaurants that offered take away, alcohol producers that made sanitiser, will be the ones that will weather the longer term impacts of this pandemic.
Despite the fact that we are now rolling out a vaccine, restrictions are likely to remain for some months yet and it is vital that Government is clear with business about what these mean for them because there has inevitably been a lot of start stop in 2020.
Our tourism and hospitality sectors have been particularly hard hit so we would like to see ongoing government support to help them through this crisis.
Let us know your ambitions for the South West - tell us in the comments section below