Cornwall shows ‘economic resilience’

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Cornwall has been ranked as being one of the most economically resilient areas in the country, according to an Experian study commissioned by the BBC.

The research ranked councils in England for resilience to economic pressures, such as public sector spending cuts.

And Cornwall was ranked 38th out of 324 areas, for having resilient business sectors.

The study also showed that the Duchy was not as vulnerable as most other areas to drops in disposable income – namely because it doesn’t have much in the first place, ranking third lowest in earnings.

Despite Cornwall’s ‘resilience’, the study did highlight a worrying trend. Backed by Objective One and now Convergence funding, much stock in Cornwall’s future economic prosperity has been put on high growth sectors, but in this ranking Cornwall comes a lowly 302nd out of 324.

The October issue of Business Cornwall magazine will feature a round table debate it held with local business leaders at The Scarlet Hotel this week, discussing many of the challenges currently facing the Cornish business sector.

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