A recent survey of 500 mid-sized businesses across the Midlands region has revealed that two-thirds of firms surveyed believe now is the right time to invest in their businesses despite the current lockdown and ongoing economic challenges.
The latest BDO Rethinking the Economy survey, found the top three investment priorities in 2021 are investing in technology and new processes to increase business efficiency, developing initiatives to support employee wellbeing, and hiring graduates and apprentices.
However, businesses surveyed also called on the Government to do the same, to make significant progress in their pledge to ‘level up’ the UK regions over the next three years. And the areas they want investment are in 5G and internet connectivity, more commercial space for business and mandate more devolution to local government.
The survey also revealed that 39% of Midlands businesses expect to recover from the pandemic within seven to 12 months once the toughest restrictions are lifted.
At Staffordshire Chambers we are geared up and ready to help all firms with their post-Covid19 recovery strategy.
We have an experienced Business Growth Advisor, Richard Brace, to provide advice and information to small and medium sized enterprises in Staffordshire that are looking to grow, re-establish their position after the Coronavirus slowdown, and companies looking to develop their strategy to achieve higher growth going forward.
Richard can meet you and offer advice and an objective diagnostic of your growth plans to help develop your company’s strategy and can also deliver an on-line GROWTHmapper business diagnostic. This is an excellent way to get the recovery ball rolling as it enables business leaders to set aside some time to think about the company’s position whilst engaging all senior management teams in the strategic planning development process.
If you would like to speak to Richard about your plans for growth, please email him: richard.brace@staffordshirechambers.co.uk
The government’s Kickstart Scheme is also a great way to help business recovery whilst providing employment opportunities and vital experience for 16–24-year-olds who have been particularly affected by the pandemic.
As part of the Chancellor’s Plan for Jobs, Kickstart provides six-month placements for young people who are claiming Universal Credit and are at risk of long-term unemployment.
The Government picks up 100 per cent of employment costs up to 25 hours a week at the appropriate minimum wage level as well as National Insurance and pension contributions. Employers also receive £1500 towards equipment and training costs.
Dozens of firms locally have already engaged with the scheme to bring in fresh talent and ideas to aid their recovery.
To find out more and to discuss how Kickstart can benefit your business email: kickstart@staffordshirechambers.co.uk
If you want to talk to us about any business issues, you can call our switchboard on 01782 202222 or call the Stoke and Staffs Growth Hub Helpline on 0300 111 8002 or email: info@staffordshirechambers.co.uk
You must be logged in to post a comment.