By referring to the economy of an area, we are attempting to describe the components that drive the production, distribution and consumption of goods and services. The economy of the West Midlands metropolitan area is vital to all of its community as it provides employment and wealth; it also has a significant impact on the overall economy of the midlands region and the United Kingdom as a whole.
All fires present a risk to the community but fires in particular buildings such as commercial businesses, public buildings, schools and so on can pose a significant threat to the local economy. Costs associated with commercial fires can be excessive as a business may lose not only its operating base, but also its vital records, plant and machinery, stock and raw materials. Many businesses do not survive after a severe fire and the likelihood of closure increases significantly. This can place financial burdens on the local economy in the form of unemployment, increased insurance premiums and reduced investment, not only affecting those directly hit by the fire, but also those in the supply chain, transport providers, local shops etc.
To find out how West Midlands Fire Service is working to reduce fires and their impact on commercial and industrial premises, please click here.
