The diversity of Lancashire’s economy will provide strong foundations upon which to grow, according to a leading business advisor.
Ginni Cooper, of chartered accountants and business advisors Moore and Smalley, said the county benefited from the strong manufacturing base which prevented its decline when the powerhouse service industry dipped.
There are many parts of the regional economy which rely heavily on services and often very specific parts of that sector, so when those areas struggle, the whole economy struggles
However, she added that even greater emphasis needed to be placed on boosting exports across both sectors to ensure growth picked up after a weak start to the year.
Moore and Smalley, which is headquartered in Preston city centre with offices in Blackpool and Lancaster, is among the sponsors of one of Lancashire’s top business awards, the Be Inspired Business Awards, or the BIBAs.
The annual prize-giving ceremony, which hands out 19 prizes to the leading lights of the county’s business community, takes place in September with its finalists due to be announced next week.
Ginni said: “Lancashire’s manufacturing sector has traditionally been very strong in comparison with other parts of the county which has always given it added stability.
“There are many parts of the regional economy which rely heavily on services and often very specific parts of that sector, so when those areas struggle, the whole economy struggles.
“At present there are issues which have a short term impact.
“However, these are indicative of a difficult national and global climate than any specific problem in Lancashire.
“Our diverse economy has given us strength, jobs and investment for generations and I have every confidence it will continue to do so.”