2017 and Beyond Pessimistic or Optimistic?

19th January 2017

Richard Wright, Executive Director, Sheffield Chamber of Commerce We have come a long way in the last few years.

I think the biggest change has been in our collective attitude. We no longer as a region feel victims of the past but realise we can go out and survive - and even prosper - in this changing world. It's in our own hands! Whether we should be pessimistic or optimistic is not really the question. The truth is there always has been, and always will be, challenges and opportunities in front of us. The only certainty is change. The real question is -Are we in a better position than we were to exploit the opportunities, and redress the challenges? That's where I do get a little worried because, despite what I feel has been an improved attitude for the region, I am convinced we remain culturally and politically parochial and are therefore held back economically. We have had many examples of this over the last year, not least HS2, Devolution, Growth Hub and mayoral elections. I will even say that not enough private sector businesses look forward strategically, ensuring they develop international markets and products for tomorrow, and hence become sustainable and bring wealth into the region. One attitude we have not moved forward with is our reliance, or focus, on government subsidies and grants. Too many of our strategic plans are effectively a justification of national and European funding. We need more focus on building an independent, sustainable economy. Look at the energy we have put into devolution because it means we get more money and control over existing monies. I am not saying we don't need to do that, and I applaud the effort that some people have put in to achieve it, but there is so much more. Has everybody bought into devolution and do we all see it as the same thing. This region is terrible at presenting a united message. I hear it from Government and investors all the time. Manchester seems to manage it! I remain unconvinced that we have really decided to spend the devolution money differently, or that we won't use too much of it to prop up outdated and 'fat' bureaucratic organisations that absorb overhead costs and limit the money getting to where it can really do something. Even the money that does get through is spent in the same old way on box- ticking, process-driven activities that are a million miles away from how we would spend it in business. When will somebody fundamentally overhaul our planning procedures? Our reputation with city investors and other funders is awful - they just look elsewhere and we all lose out. That apart, we have some real reasons to be cheerful. Well done to the new raft of investments, a lot of which are now funded by the Chinese. This century will be the Asian century so we need to develop these ties even further. Europe and America are important but the UK can take a fantastic position between Europe, America, China, Russia and India to name but a few. An independent judicial system will be very important to that after all, English Law is the law used for contracts all over the world because of its independence. We must keep challenging ourselves. We must not just talk about change but really drive it into the way we approach our activities now, and in the future. We are getting there, its just not fast enough.