Business confidence on hold! – Latest Quarterly Economic Survey results
It was the first post-General Election QES and as usual, the results make for interesting reading!
Survey findings suggest a slowing down of both domestic and overseas sales. There was growth in the number of companies reporting expansion of workforce over the last 3 months but a drop in the number of businesses who expect their workforce to grow in the coming months.
When it comes to investment, QES reported a drop in the number of businesses investing in plant, machinery and capital during Q3. This ties in with anecdotal evidence we’re hearing on the ground, about businesses holding back on investment and preferring to ‘wait and see’ what is announced in the Chancellor’s Budget later this month. The indicators appear to suggest that business confidence is on hold until at least 30.10.24. It’s a picture which is replicated by the national QES results.
In other areas of the QES, taxation is now the most commonly cited concern. This has overtaken interest rates and inflation, with results suggesting a “tax anxiety” for many business owners. Breaking this down further, manufacturers and smaller small to medium sized enterprises (SME), are more likely to have concerns about tax. SME operating in the services sector (e.g. hospitality), are still more concerned about inflation. Responses suggest that expectations of price increases are starting to level off, with labour costs regarded as the main cost pressure for business.
Within each QES, we also have capacity to add one-off questions about specific topics. Our latest QES asked businesses for feedback on Artificial Intelligence (AI), something which is becoming increasingly relevant for many business sectors. Almost half of respondents (44.4%) suggested that they expect to increase their use/adoption of AI in the next year.
We also asked about future requirement for staff to be fluent in an overseas language. Only 6.35% of respondents suggested that this is relevant, with French and German scoring as the most popular languages.
With business confidence seemingly on hold, all eyes will be watching the Chancellor of the Exchequer’s maiden Budget speech on Wednesday 30th October. We’ll be writing to Rachel Reeves with a number of key Budget ‘asks’ but once the Budget has been delivered, you’ll have the chance to have a more detailed guide to what any announcements will mean for you and your business. Join us for our Post Budget Breakfast on the morning of Thursday 31st October, kindly hosted by RSM. You’ll get expert analysis and a summary of the key tax measures from the Budget and how any changes may impact your investment strategies and succession planning.
Join us for what promises to be a fascinating and informative update. Click here to book your place:
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Record numbers flock to Let’s Do Business
Let’s Do Business, Staffordshire’s largest annual business expo, made history at Uttoxeter Racecourse yesterday with its biggest-ever turnout of delegates and exhibitors.
Headlined by prominent figures from the world of sport, including Stoke City Sporting Director Jon Walters and three-time Olympic gold medalist Ed Clancy OBE, the event offered attendees a unique insight into leadership, resilience, and high performance.
Attendees took full advantage of the day’s extensive networking opportunities, with exhibitors representing a wide range of industries.
Rachel Laver, CEO of Staffordshire Chambers of Commerce, said: “The turnout has been phenomenal.
“We’ve worked tirelessly to make Let’s Do Business 2024 our biggest and best expo yet, and I’m thrilled with the response.
We’ve never had this many exhibitors or delegates attending, making this year’s event a landmark moment for the business community in Staffordshire.”
Visitors connected with potential partners, clients, and collaborators, while also gaining invaluable insights from industry experts on everything from digital transformation to sustainability.
Rachel added: “This event is a staple in the Chamber calendar, and the energy here today has been incredible.
It’s fantastic to see so many businesses coming together to share ideas, make connections, and look to the future with optimism.”
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Declan’s Blog: Tackling rural crime
Last week we held a meeting of our Rural Business forum.
This forum serves as a strategic group to promote the interests of the rural business sector in Staffordshire. It champions and lobbies for specific strategies and policies that will benefit members and ensure the rural sector has a stronger voice in our community.
Staffordshire is such a vibrant and diverse county.
From ceramics in Stoke, to beers in Burton. The urban parts of our county are home to a rich mix of business sectors but in recent years, there has been a growth in the number of businesses moving from towns and cities, into the countryside.
Rural businesses face their fair share of day-to-day challenges, in comparison to their urban counterparts. Securing fast and reliable digital connectivity can be a headache. Public transport to rural areas is often too infrequent to be considered as a practical means of getting employees to and from work.
In last week’s Rural Business forum, we discussed the topic of rural crime. Earlier this year, NFU Mutual commissioned a report which found that the cost of rural crime in Staffordshire this year, rose by almost 9%, compared to 2023. Criminals have targeted rural businesses and left business owners feeling the pain of financial loss. Rural crime affects large areas of the county but it often goes unreported. Rural crime will impact on insurance premiums, food prices and cause damage to local communities.
Staffordshire Police joined last week’s Rural Business forum and it was good to hear of plans to fight back hard against the criminals. The Force has established a Rural and Wildlife Crime Unit, with more than 50 officers trained as specialist Rural & Wildlife crime officers.
We heard of a determination to bring down rural crime and there is an increased focus on Rural Serious Acquisitive Crime. A 4P approach of ‘Prepare’, ‘Prevent’, ‘Pursue’, ‘Protect’ will underpin much of this work. Regular review will include performance review and partnership meetings to build and maintain relationships and engagement with key stakeholders.
Staffordshire Police has launched a Rural Crime Strategy, which outlines its commitment to tackling the issue of rural crime, head-on. The strategy is regarded as a comprehensive plan which outlines the approach to preventing crime, protecting vulnerable people, and bringing offenders to justice. At the core of the strategy, there is a strong partnership between the police, local authorities, and rural communities.
It was refreshing to hear that there will be a real focus on protecting the most vulnerable individuals and communities in our rural areas. There is also commitment to prioritise the pursuit of criminals involved in serious and organised acquisitive crime, using those networks for financial gain.
The rural parts of Staffordshire need this support. Rural locations are places where residents live, work hard, support one another and contribute significantly to our way of life and it’s vital that all who live and work in these areas, can feel safe and secure.
For further information on the work being done by Staffordshire Police, click on the url:
Rural crime | Staffordshire Police
If you would like to get involved with our Rural Business forum, please send an e-mail to:
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Expressions of interest for Chambers’ Council & Local Area Advisory Boards close on Friday
Dynamic, influential and forward-thinking business leaders are invited to register their interest in joining the Chambers’ Council and/or Local Area Advisory Boards (LAAB) for Stafford and the Staffordshire Moorlands ahead of Friday’s 5pm deadline.
By becoming a Council or LAAB member, you’ll be part of a supportive network of leading local businesses that are all keen to address business challenges, share best practices and help the business community to thrive and prosper.
Council and LAAB Members are elected by the Chambers’ membership to represent their peers and work as advocates for the Chambers and the private sector.
Together with the Chambers, they have the power to increase the prosperity of Stoke-on-Trent and Staffordshire and the local community by forging outstanding connections and lobbying local authorities and the Government for a better business environment.
Don’t just take our word for it, though! Hear what some of our existing Council and Board members have to say below.
Council and Local Area Advisory Board members are expected to attend up to five meetings per year. Meetings typically last for around two hours and aim to discuss a range of business issues affecting Staffordshire. The meetings include a guest speaker on a topic relevant to the local area and provide a great opportunity to increase local knowledge and to influence the local business landscape.
To register an expression of interest, please email rebecca.stubbs@Staffordshirechambers.co.uk
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Free drop-in business clinics coming to Stoke, Stafford & the Moorlands
Staffordshire Chambers is delighted to announce that we will now be hosting monthly drop-in clinics across three locations: Stoke, Stafford, and the Moorlands.
These sessions, held on the last Friday of every month, provide a fantastic opportunity for businesses to seek advice, network, and explore growth opportunities.
The first clinic will take place on 27th September with a specific focus for each location:
- Membership at Commerce House, Festival Park.
- Export Documentation at Shire Hall, Stafford.
- Growth Hub Services at Foxlowe Arts Centre, Leek.
Feel free to drop in even if your questions aren’t related to the session’s focus—our team is happy to help with any business topic.
All sessions will run from 10am to 12pm, and there’s no need to book—just drop in!
It’s free, and a member of the Chambers team will be available to talk through any business-related queries, from membership and documentation to business growth strategies.
Whether you’re based in Stoke, Stafford, or the Moorlands, we’re here to support your business journey—come along and chat with us!
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Local solicitors to waive will-writing fees during Dougie Mac’s Make a Will month
Local solicitors are once again waiving their will-writing fees to support Dougie Mac’s Make A Will Month.
The October campaign will see 17 local solicitors, including an online Will Writer, generously waive their usual fees to draft or amend a basic Will in exchange for a donation to Dougie Mac.
Lauren Stanley, Senior Legacy Fundraiser at Dougie Mac, explains, “Although it’s not easy to think about, writing a Will is really important as it gives you the opportunity to decide exactly what will happen to your property, finances, and possessions after you die. If you’ve been putting off writing your Will, or just don’t know where to start, Dougie Mac’s Make a Will Month is an opportunity to get your plans in order while supporting your local hospice.
“Anyone considering leaving a gift to Dougie Mac in their Will, whether that’s a set amount or a percentage of their estate, can have a basic Will drafted for free by a participating local solicitor. If you’re not sure about leaving a gift to Dougie Mac in the future but want to support the hospice now, you can make a donation and still take part in the campaign.”
Dougie Mac’s Make A Will Month also applies to people who already have a Will but need to update it, especially if personal circumstances have changed. Lauren added, “If you’ve had a baby, moved house, got married, or divorced, it’s important to update your Will to ensure your wishes are met. Without a Will, the law dictates what happens to your assets.
“Every donation we receive through Make A Will month makes a real difference and enables us to continue our care and support services for local families. Leaving a legacy donation to Dougie Mac ensures we have income we can rely on in the future and enables us to plan ahead to make sure our specialist care is available in the years to come. We understand that taking care of your loved ones is a priority, which is why we are so grateful for every gift we receive when someone has passed away.”
Full details of Dougie Mac’s Make a Will Month and how to take part are available at: www.dougiemac.org.uk/gifts-in-wills Supporters can also contact Dougie Mac’s Legacy Team on 01782 344308.
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Newcastle-under-Lyme BID Announces Dates 2024 LoveNUL Business Awards
Newcastle-under-Lyme Business Improvement District (BID) have unveiled the dates and key sponsors for the 2024 LoveNUL Business Awards, which will take place on Thursday 24th October at the prestigious Denise Coates Foundation Building at Keele University.
At its inaugural event in 2023 the LoveNUL Business Awards recognised the achievements of local businesses and individuals and was attended by 180 local businesses and partners. Thousands of public votes poured in, highlighting the community’s support for their favourite businesses, from restaurants and service providers to tourism attractions. The 2024 awards are expected to build on this success, offering a vibrant opportunity to recognise business achievements.
Nigel Davies, Co-Chair of the Newcastle-under-Lyme BID Board and owner of Boss & Sons Barbers in Fogg Street shared his thoughts on the importance of celebrating local business excellence:
Recognising local business achievements is vital for our town to grow and create a sense of pride and community. The LoveNUL Business Awards are a fantastic way for businesses to be acknowledged for their hard work and it’s also an amazing evening where we can all come together to socialise, network and strengthen the business community in Newcastle.
This year’s event, celebrating the best of local business excellence, will be headlined by Keele University as the main sponsor, with additional support from KMF Group, Staffordshire Chambers of Commerce, New Vic Theatre, and Newcastle and Stafford Colleges Group (NSCG).
Charlotte Pearce, Newcastle-under-Lyme BID Manager, expressed excitement for this year’s event:
“The LoveNUL Business Awards provide an excellent opportunity to highlight the incredible talent and hard work of our local businesses. With Keele University as our headline sponsor and the support of our other fantastic sponsors, we’re looking forward to hosting an evening that will celebrate and strengthen our town’s business community.”
The public nomination process opens on Friday 20th September and runs through Sunday 29th September. Residents are encouraged to submit their favourite local businesses, celebrating everything from top-tier dining experiences to exceptional service providers. Businesses are also welcome to nominate themselves and showcase their own successes.
Following nominations, public voting will begin on Friday 4th October and close on Wednesday 16th October. The shortlist of finalists will be announced on Friday 20th October, with the winners revealed during the Awards Evening on 24th October.
For more information on the LoveNUL Business Awards, including award categories and sponsorship opportunities, visit lovenulawards.co.uk
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Wellbeing bus to visit Chamber members and staff at Commerce House
The NHS Talking Therapies wellbeing bus is scheduled to visit Commerce House next Tuesday, 24 September, to offer mental health support for Chamber members and staff.
Taking place from 11am to 2pm, the event, organised in collaboration with Pathways, Stoke on Trent College, Potteries Moneywise, and Staffordshire & Stoke on Trent Talking Therapies, will offer support for individuals struggling with stress, low mood, motivation issues or sleep difficulties.
The wellbeing bus will be on-site, offering support and advice on mental health and wellbeing.
In addition, attendees can enjoy complimentary mini beauty treatments provided by a local training provider. The event is designed to offer practical help and relaxation, providing a boost to both mental and physical wellbeing.
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Business leaders urge new Government to stay the course on skills gap solutions
Business leaders and education providers in the Midlands have urged the new Government to ‘stick to the plan’ when it comes to closing the skills gap and helping businesses to develop the labour force they need.
The plea came at an event celebrating the progress made across the region on Local Skills Improvement Plans (LSIPs) which was held at the MIRA Technology Institute.
LSIPs were designed by the previous Government to put employers at the heart of skills provision in their local area, to identify skills gaps and work with partners to devise solutions.
In each area of the Midlands, partners have come together – led by an employer representative body – to research needs and then come up with solutions unique to their own local area.
Each LSIP area in the Midlands was given the opportunity to present the progress they had made and what they saw as the next stage of the plan. The event also heard from Dr Mel Collins, head of LSIPs for the Department for Education, who said the model had been written into statute.
The regional LSIPs have been led and supported by a range of partners.
The Stoke-on-Trent and Staffordshire LSIP has been led by Staffordshire Chambers of Commerce; the West Midlands and Warwickshire LSIP by the Coventry and Warwickshire Chamber; The Marches LSIP by Shropshire Chamber; the Leicester and Leicestershire LSIP by East Midlands Chamber; Worcestershire LSIP by Herefordshire and Worcestershire Chamber; South-East Midlands LSIP by Northamptonshire Chamber; and the Derbyshire and Nottinghamshire LSIP and Greater Lincolnshire & Rutland LSIP have both been led by the FSB.
The event heard about a wide range of changes and developments that have already been made – from improving softer skills through to enhancing green tech skills for the construction sector.
Adam Whitehouse, founder of Staffordshire Chambers patron TMT First, spoke at the celebration event as an employer who has been part of the LSIP process in the region.
He said: “Attending and speaking at the Midlands LSIP Celebration event was an absolute privilege.
“It was inspiring to see so many dedicated individuals and organisations come together to shape the future of skills development in our region.
“The collaboration and energy on display truly highlight the strength of the Midlands as a hub of innovation and opportunity. I’m proud to have been a part of such an important initiative and look forward to seeing the lasting impact it will have on our local businesses and our current and future workforce talent.”
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Chamber members invited to attend the Royal Air Force Museum’s prestigious Annual Reception
Staffordshire Chambers members have been invited to attend the Royal Air Force Museum’s prestigious Annual Reception next Monday, 23 September.
This exclusive event offers an opportunity to network with key decision-makers and influencers from across the Midlands while learning more about the RAF Museum Midlands’ exciting redevelopment programme and the potential for your organisation to get involved.
The evening will be hosted by Air Chief Marshal Sir Stephen Hiller, Chair of the RAF Museum Board, alongside CEO Maggie Appleton. Set in the surroundings of the Museum’s iconic aircraft hangars, doors will open at 6.00pm, with guests welcomed by a reception featuring fizz and canapés.
Attendees will enjoy after-hours access to the Museum’s collections, witness a poignant sunset ceremony performed by RAF Cosford personnel, and be treated to drinks and bowl food service throughout the evening.
The reception will also offer Chamber members an exclusive insight into the Museum’s mission – inspiring everyone with the RAF story, past, present, and future, through its rich collection and the stories of its people. As part of a transformative £27 million redevelopment project titled Inspiring Everyone: RAF Museum Midlands Development Programme, the Museum is committed to becoming a more valuable resource for the diverse Midlands community, creating enriching opportunities for learning and engagement.
This transformation is designed to create more opportunities for learning, discovery, and skills development, enhancing the region’s attractiveness as a destination to visit, live, and work by offering:
- A new exhibition sharing the critical role of the RAF over the last 40 years, exploring its mission today and imagining its future
- A state-of-the-art Learning Centre that will provide bespoke facilities for lifelong learning programmes welcoming an additional 8,000 learners per year
- A new Collections Hub that will enable the Museum to conserve and share its stored collection with visitors for the first time, while growing the Apprentice programme
- Landscaping improvements co-created with the community to enhance the visitor experience through, outdoor learning, social interaction, and biodiversity
- An Engagement Programme delivering creative, wellbeing and skills development activities rooted in the Museums unique collection.
With the development already over halfway to its funding target, the Museum invites partners to join in this historic transformation. This initiative presents a unique opportunity for businesses to align themselves with a National Museum, and the RAF’s proud legacy, engaging with an expanded and more diverse audience. A range of sponsorship and gift in kind contribution opportunities are available, ensuring that every partnership makes a lasting impact.
To confirm your attendance at the RAF Museum Midlands Annual Reception, click here.
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