Last night, Sunderland hosted the hugely anticipated Spice Girls Tour, which reportedly could bring in around £4 million to the local economy. As a region, we are lucky enough to be able to support these huge acts and provide excellent venues around the North East. Utilising these opportunities will help bring in more money, more tourists from across the world and importantly, more jobs.
Venues such as The Stadium of Light, St James’ Park, Utilita Arena and Steward Park in Middlesbrough which held The Radio 1 Big Weekend this year, all contribute towards boosting our local economy. There are some exciting development plans in place, providing vast investments for the North East with hopes of completion by 2023. These developments include the brand new Helix in Newcastle, the Gateshead Quayside Arena and leisure complex including ‘The Whey Aye Wheel’, the replacement of the Newcastle Arena and a 12 metre ‘Geordie Giant’ sculpture. This will have a huge impact on jobs, business opportunities and national attraction across the region.
Supporting our local businesses - small or large - is massively important. Without this, unemployment levels will continue to rise and more companies will struggle financially. With the UK economy under threat due to Brexit and an increase in larger business closures, it’s crucial that we back our SME businesses as they play a significant role in our economy by providing more job opportunities and a variety of services. According to FSB (www.fsb.org.uk/media-centre/small-business-statistics), ‘Small businessesaccounted for 99.3% of all private sector businesses at the start of 2018 and 99.9% were small or medium-sized (SMEs). Total employmentin SMEs was 16.3 million; 60% of all private sector employmentinthe UK. The combined annual turnover ofSMEswas £2.0 trillion, 52% of all private sector turnover.’ This means that we can help keep unemployment levels low by providing more healthy competition in the market in the form of SME’s.More news posts
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