Swindon and the downturn 

'Stay Positive' the message from Swindon's business leaders

 

Pay back?: after 16 years of prosperity the future looks turbulent for Swindon business

Business leaders in Swindon have been reacting to today's news that the UK economy is officially slowing down.

 

The Office of National Statistics confirming that output fell by 0.5% between July and September this year, the first quarter since the last recession in 1992 the economy has shrank.

 

Speaking to SwindonWebTV, representatives from the Swindon Chamber of Commerce, the Old Town Business and Professionals Association and Swindon Economic Development, all agree the figures aren't surprising but that the town is well placed to weather the current challenging business climate.

 

'Be Positive' the overall message.

 

"It is worrying when we look to the future, but Swindon does have a very diverse economy and isn't over reliant on one particular sector.

So if some sectors are hit, we have others that can pick up," said Bill Cotton, Director of Swindon Borough Council Economic Development.

 

"If businesses can hold their nerve, there will be opportunities out there in the future," Mr Cotton added.

  

See video for the full reaction.