Firms still need more government support to survive, says Stratford business

A STRATFORD-based firm wants to see more government support to help offset rocketing costs.

Wright Engineering, which manufactures products used in petrol stations and tankers, says there just aren’t enough grants on offer.

When its three-year fixed tariff deal ends in September, the company’s electricity bill is set to triple from £16,500 to £44,000 a year.

Company secretary Kathryn Milward said: “We will find this sudden leap very shocking and it is going to be very hard for us to find that amount.

“We would definitely appreciate help from the government towards our energy bills.”

Wright, which imports materials from Taiwan and China, has managed to keep sales strong, despite turmoil across world markets.

But with UK inflation running at just over 10 per cent, all its costs are spiralling.

The factory and head office on Masons Road where 19 staff are based, needs a new roof which will set it back £84,000. And it has just footed a £42,000 bill to have the 1982 building rewired.

Ms Milward added: “We’re trying to put a new roof on, so we thought it would be a good idea to go with solar panels but there is no assistance whatsoever.

“You’ve either got to have £100,000 sitting in your back pocket to pay for it, or you stick with a faulty roof.”

She added: “Companies like us don’t seem to fit into grants of any sort.”

The county’s business leaders recently called on the government to do more to help boost growth.

Bosses at Coventry and Warwickshire Chamber of Commerce were reacting to the latest Office for National Statistics figures, which showed zero growth for February.

Overall, the UK economy is expected to shrink by 0.3 per cent this year.

Sean Rose, head of policy at Coventry and Warwickshire Chamber of Commerce, said the figures came as no surprise.

He said: “There are some fundamental drags on growth that are impacting businesses across all sectors, such as high energy prices, inflation and a recruitment crisis to name but a few.

“It’s vitally important that these issues are tackled to allow companies across Coventry and Warwickshire to flourish.

“On top of that, we would like to see much more emphasis, support and encouragement for overseas trade as this is a massive driver for domestic, economic growth.”

David Bharier, head of research at the British Chambers of Commerce, said although the economy is “technically managing to avoid a recession”, it is “stuck in a prolonged period of almost no growth”.