THE recent big freeze is having a major impact on more than just our daily lives.

It has been reported that the daily cost of the snow to our economy could be £400m, £600m, £900m or even £1.2bn.

During this cold snap – with the temperature coming in at -14C on the drive to work on Friday morning – numerous schools have had to close with consequential childcare issues, while for business it is estimated that ten per cent of staff have not made it into work.

For some of my clients, especially retailers, this is supposedly the busiest time of year, and there is clearly concern that sales will be lost.

While this is obviously the case for some purchases, especially the impulse ones, others, such as the purchase of cars, clothes or Christmas presents, may just be postponed.

Other businesses, including those selling items such as warm clothing, sledges, spades and snow tyres – I’ve been told by one garage to order now for next September – and, unfortunately, garage repair centres, will see an increase in business.

Furthermore, in Teesside we have one of the largest salt mines in the UK, increasing the work load for hauliers.

So it’s not all bad news for the economy.

It hasn’t stopped my daughter from calling me a “bah humbug” when I complain about the snow – mainly due to the disruption that it causes me, my work colleagues and contacts in going about our business life.

One thing I know is that to catch up, I’ll be working even harder over the next few weeks, as I suspect others will be.

The past few weeks of bad weather and the impact this has had on the economy, probably sums up this past calendar year.

While there has been bad economic news, this has been, in part, offset with good, be that for the sub region, the region or the country.

While we continue to live in interesting times, I trust that next year will bring you more positives than negatives.

■ Chris Beaumont is the Tees Valley committee chairman for the North East Chamber of Commerce (NECC).