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Will Hinkley C be good or bad for business?

15th August 2016

Will Hinkley C be good or bad for business?

In times of uncertainty, there has to be clarification, direction and meaning in what we do.

In Somerset, because of Hinkley C, many of us not only have uncertainty but no real direction as to what is happening or could happen with our businesses.

Many businesses have already spent thousands of pounds, in some cases tens of thousands, on accreditations in order to supply if and when the Final Investment Decision (FID)  is actually granted.  For many, a lot has been riding on Hinkley C being built. So what happens to their money if that doesn’t happen? Will they have the opportunity to tender for other work?  

Other concerns have been around what could be a massive skills drain in the region, and even nationally. Although Hinkley will attract certain skills and talents, and create some great opportunities,  smaller employers in the region who also need these skill sets are worried about where will they get these people, what salaries will they be on and how much they will have to pay existing staff to keep them.

The ripple effect is evident. If a cleaner, for example, is going to be able to command a salary of £19k ( which has been quoted as a possible salary) then administration staff in the area on £17- £19k might think, hang on, I can earn more money, have my transport paid and possibly get overtime on top of that. Engineers currently on £30k are likely to be offered nearer £40- £45k, plus overtime, if they take a job at Hinkley C. While this is great for the candidate, these high salaries and inflated benefits are a luxury many small companies  cannot afford to offer.

So yes, Hinkley C,  if it goes ahead, might offer some wonderful opportunities for the B&B’s, the hoteliers, the shops,  restaurants and pubs  where the thousands of workers will be spending their money, but for majority of the businesses large and small this skills drain, the employment fall back and the financial consequences have us all asking, worrying and debating…. “How will my business be affected,  what can I do to limit the consequences and here is the possible opportunity? 

I myself own a three site recruitment agency and we are already seeing the skills shortage due to the economy as a whole.  What Hinkley will do locally is a question that none of us, sadly, currently have the answer to.

 

 

 

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