Retailers report increased footfall and creation of new jobs
“PLEASE, release more funds”, was the message sent out this week to lending institutions by a revitalised Limerick business sector.
A survey conducted by the Limerick Post revealed that there was a definite upsurge in business, with three traders reporting that they had taken on extra staff to deal with increased footfall.
However, the availability of money continues to be a problem, with purchasers relying on their own incomes and savings to aid their spending, rather than approaching banks for credit facilities.
The banks position, though, was defended by a spokesperson for Ulster Bank.
“Our lending criteria has not changed very much-it is people’s circumstances that might have changed. There is no clampdown on lending-we have to be reassured that the client is positioned to meet repayments”.
The spokesperson agreed that there had been an uplift in the economy, but should not be confused with an economic turnaround. “There are seasonal factors to be considered”.
Retailers were united that customers had become more selective, with homework done in advance.
They also concurred that confidence was returning, however slowly, and that what was needed was good leadership from government.
A spokesperson for Casey’s Furniture in Raheen, said there was a much more positive attitude around.
“We are now in the lead-in to Christmas and thoughts are in that direction. Limerick has been very good to us, and we remain confident for the future.
“House prices have fallen-we have delivered to a number of new and second hand-homes where prices came in at less than 200,000 euro”.
Paddy Kennedy of Elm Motors, reported extra quantity moving from the forecourt, “but not profitability”.
The fine weather of last week, he said, had people out and about. The emphasis at the moment is on buying second-hand cars in the 5,000 to 15,000 euro range.
“There are buyers out there but it would help if there was more clarity on the banking situation”.
Gerry Crowley of N Conlan & Son, who have taken over the BMW dealership previously held by Pat Keogh, revealed they are in the process of employing upwards of 20 people.
“Though we will not officially open until October 14, we have already negotiated quite a few sales. We have had clients booking for 2010 registrations. We researched the Limerick market before taking a decision to come here, and look to a promising future”.
A spokesperson for Cash & Carry Kitchens at the Eastwood Business Park, also detected a sharp rise in sales, leading to extra staff.
“What we have found is that people who might at one stage have considered trading up are putting on extensions. That’s good for those in our type of business and DIY outlets. Yes, there is more money around, but it would be better still if the banks started lending again”.
Tony Brazil of Limerick Travel, said that despite the recession, the demand for foreign holidays was still strong.
“There had been a marked falling off at one stage, but now things have levelled out. There are fewer going on two holidays a year”.
The restoration of three daily Aer Lingus flights to London from next month, he added, would help boost the local economy.
Ronan Brannigan, of the Savoy Hotel in Henry Street, said that room occupancy had shot to over 60 per cent. There was, he continued, an air of confidence about and people were getting back into spending mood.
Harvey Norman, meanwhile, have taken on an additional four staff to meet demand for their range of products.
