PERSUADING more graduates to stay in Lancashire is crucial to the economic welfare of the region, according to the newly-elected president of the North West Society of Chartered Accountants.

Deborah Wood said the high academic standards achieved by the universities of Central Lancashire and Lancaster offered the potential of great benefits to local businesses.

"More emphasis should be placed on retaining a higher proportion of the student population within our community," she said.

"The outlook for firms in the important small to medium sized sector is one of change and growth, and we need to persuade as many well qualified and talented people as possible to put down their roots here."

Mrs Wood says her aim as president of the chartered accountants representative body in the north west would be to demonstrate that members of the profession were of real value to business and enterprise in the region.