Bicester 'riding economic storm'

Earlier this year, employment agency Jobs in the Office teamed up with Bicester Chamber of Commerce to launch the survey to find out how firms were coping in the recession. Companies were asked a range of questions in a bid to get the most up-to-date information on how the financial downturn was affecting the area.

Questions included whether numbers of employees had changed over the past six months, and whether the business had taken any cost-cutting measures.

Results showed 90 per cent claimed the global downturn had affected their businesses – especially the construction, motor and housing sectors. Among the problems raised were firms being left with crippling debts after a customer went bust.

Replicating national trends, conveyancing had suffered, but the lettings market had grown as more people chose to rent property.

Locally 71 per cent of firms had taken on staff in the past six months, and ten per cent had made redundancies or reduced employees’ hours. About 80 per cent expected staff levels to remain the same for the time being.

Sixty per cent of firms reported making cost-cutting measures over the past six months, mainly in advertising. Only 20 per cent of businesses felt there was a skills shortage and all would be interested in staff training.

Jason Norman, co-owner of Jobs in the Office, in Sheep Street, said: “The overall feeling from this survey is that most local businesses are managing to ‘ride the storm’, although in this ‘obese’ economy have had to make cuts to ensure the survival of the business and in turn create a leaner organisation.

“They felt that business confidence is low at the moment, but this has given them the opportunity to look more closely at areas where they are possibly being wasteful and to be more resourceful. Keeping a positive attitude helps to encourage staff.

“Half of the businesses felt that media coverage was affecting their decision-making processes. This was due to the doom and gloom being portrayed.”

Ben Jackson, president of Bicester Chamber of Commerce, said: “Bicester businesses are obviously managing their resources carefully and demonstrating that opportunity and growth can be found in times of recession.

“It is key for businesses to review their market and make adjustments to adapt to their clients’ circumstances, for some this is easier than others. Bicester has a varied economy without too much reliance on any one sector; this reduces the overall impact of a downturn. It is a great credit to the business owners and managers of Bicester and Kidlington that such a high percentage have reported increasing staff levels at this time.”