A selection of Staffordshire Chambers of Commerce Patrons joined the Black Country Chamber of Commerce for a tour around two of the region’s major attractions.

Twenty-five of the region’s most influential businesses joined Gail Arnold, head of premium membership at the Black Country Chamber, for a tour of Dudley’s Very Light Rail National Innovation Centre (VLRNIC), and to hear from Nick Mallinson, the Director of Business & Innovation at the Black Country Innovative Manufacturing Organisation (BCIMO), on how the centre aims to help to shape and accelerate future industries, such as the emerging Very Light Rail (VLR) industry.

The tour of this £32m multi-purpose centre, which offers a host of unique facilities including a Rail Development and Test Site, Engineering Laboratories, Serviced Offices and an Events Suite, was the first stop of the day followed by a visit to the famous Black Country Living Museum and the chance to ride on a much older mode of transport.

This is part of a range of events taking place for Patron members of Chambers in the West Midlands throughout the year – Staffordshire’s being a of JCB tour in October.

Find out more about Chamber patronage, here. 

On Wednesday we held a launch event at The Quarter at Potbank in Stoke of our Daily Focus online business newsletter – on the day we hit 10,000 subscribers (by chance but what luck). The event was attended by local marketing, PR and business development professionals – our business storytellers in Staffordshire.

It has been hitting the inboxes of subscribers since January and we thought we would hit this milestone in a few months. Thank you to everyone who is already sending us stories and subscribing to hear every weekday about what is happening in the business world of Staffordshire and Stoke-on-Trent.

The guest speaker at the event was former Sentinel editor turned journalism lecturer, Richard Bowyer. Richard spent many years in regional journalism, and he talked about how, up until a few years ago, regional newspapers like the Sentinel, once the lifeblood of an area, were producing up to 120 news, business and sports stories a day, in several editions. Sadly, for printed media we know the all too familiar story with the advent of the internet and the smartphone causing a precipitous fall in the advertising revenue on which papers depended.

Daily Focus is produced by the talented team at i.creation, headed by Andy Jackson and based at Spode Works, working alongside the Chambers marketing department. I am immensely proud that we have built a publication that is relevant, proactive and business-led.

I am excited by the way in which Daily Focus is capturing everything we do as a business community as well as highlighting the big issues that affect us. For example, the reporting on the effect on businesses of the proposed bus gate and clean air zone in our area stirred heated debate as well as meaningful engagement with businesses, local authorities and the Government.

If you are not already a subscriber visit https://daily-focus.co.uk/ to sign up, send in your stories and catch up on everything you need to know about business in Staffordshire.

Inflation rate spike prompts rate rise

An unexpected rise in the Consumer Price Index (CPI) rate to 10.4% indicates that the UK economy is still hampered by high inflation. The main drivers of inflation – restaurants and hotels, food, clothing and energy costs – confirm the pressure we see on the hospitality and retail sectors. The longer this goes on, the greater the impact on businesses and consumers with higher prices becoming the norm.

The British Chambers of Commerce’s most recent Quarterly Economic Forecast BCC Economic Forecast: Economy to shrink in 2023  before rebounding (britishchambers.org.uk) expects the inflation rate to ease to 5% by Q4 2023 but small firms still face cost pressures, stifling their ability to invest and grow. While the Producer Price Inflation (PPI) rate has eased to 12.7%, it remains historically high and above CPI.

The March Budget saw little in the way of support for the unprecedented cost pressures businesses face. Relief can come in several forms – for instance, support to transition to more energy efficient sources and improving our trading relationships to ease supply chain difficulties -would be helpful. The Chambers will continue to lobby on businesses’ behalf for an environment more conducive to growth and success.

The decision to increase the interest rate indicates the Bank of England are still pursuing strong action following the surprise rise in inflation.

An interest rate rise alone is a blunt instrument that doesn’t address some of the fundamental causes of inflation such as failure in the energy market and global supply chain shocks.

The cost-of-living crisis and the cost of doing business crisis are two sides of the same coin and SMEs, like consumers, are getting hit from both rising prices and rising borrowing costs. The only way out of this vicious cycle is through taking action to boost economic growth, through investment in infrastructure, skills, and global trade.

Let’s hope economists’ forecasts of inflation falling and interest rate rises stabilising are accurate!

Last call for awards entries!

Finally, entries to the 2023 Staffordshire Chambers Business Awards close on Friday 31^st March at 5pm, so you still have a chance to enter providing you make a start NOW!!!

The awards are a celebration of our amazing business community with 15 categories plus the prestigious ‘Business of the Year’ award, sponsored by HSBC and chosen from the category winners.

Categories range from Young Employee/Apprentice of the Year to large business, and we also have a brand-new special award for the ‘Staffordshire Ambassador of the Year, sponsored by We are Staffordshire.

The special gala evening award ceremony will be held on 13th July at Doubletree by Hilton on Festival Park, Stoke-on-Trent. It is always a fabulous showcase for sponsors and finalists, and a highlight of the business year in Staffordshire.

You never know what winning an award can do for your business and previous Staffordshire Business Awards winners have gone on to further success, for example, at the British Chambers Awards or by being awarded a Queen’s (now King’s) Award for Enterprise.

Finalists shortlisted for an award will be exclusively unveiled in Daily Focus later in the Spring.

To make a start on your entry visit: Awards 2023 – Staffordshire Chambers

If you want to talk to us about any business issues, including funding, 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

Bros Distillery, an award-winning distillery, has opened its new facility at World of Wedgwood in Barlaston.

The opening marks a remarkable achievement for the company, which was founded just three years ago. The distillery celebrates its connection with the Potteries and local ceramic producers, presenting all SIXTOWNS products in unique kiln-shaped ceramic bottles that capture Stoke-on-Trent’s fine craftsmanship and Potteries spirit.

The new 1050 square metre distillery, located at the far end of the World of Wedgwood courtyard, will include a retail shop and bar, tours, and gin and cocktail masterclasses. It will also be available for private events or corporate hire, providing unforgettable experiences for individuals and business users.

Jemma Harrison, Head of World of Wedgwood, said: “Since reopening after the pandemic, we have strived to enhance the visitor experience at World of Wedgwood, whilst at the same time extending the amenities that the local community can enjoy on their doorstep.

“The focus of our development has been on championing the core values of craftsmanship, creativity and sustainability which are very much at the heart of the Wedgwood founding and future story. The new Sixtowns distillery, joins our own Barlaston factory, Josiah and Co. and Lunar, in showcasing the very best craftsmanship that Stoke-on-Trent has to offer.

“The beautiful cocktail bar encourages our visitors to extend their stay into the evening and enjoy a pre-dinner tipple on the very site where their luxury spirits are produced. It is a huge pleasure to welcome Vitalijs, Alex and the Sixtowns team to World of Wedgwood and see their incredible vision come to life”.

It came as no surprise on Wednesday that Chancellor Jeremy Hunt used his first budget, dubbed as his “back to work budget”, to focus on encouraging those who have left employment over recent months and years to return to the workforce, with help on childcare costs and pension saving incentives for higher earners.

Chamber CEO, Sara Williams reported in her blog a few weeks ago that we have around 30,000 vacancies just in Stoke-on-Trent and Staffordshire.

This budget was set against the fact that we have narrowly avoided a recession and a forecast that the economy would grow by 1.8 per cent in 2024 and 2.5 per cent in 2025, and with welcome news that inflation is expected to plummet to 2.9% by the end of this year.

However, many businesses will still struggle to pay their energy bills from April, and they cannot invest when they are fighting to survive and there was little in this budget that will provide comfort to these firms.

The Office for Budget Responsibility (OBR) is rightly cautious about the impact of the budget on boosting the workforce. On their estimate of the increase in labour supply because of the policies announced in this Budget, they are uncertain stating that “a plausible range could be as high as 240,000 or as low as 55,000 based on alternative plausible assumptions.”

This does not exactly inspire confidence!

The Government also failed to reform business rates which Chambers of Commerce have repeatedly called for. If the UK’s innovative growth industries are to remain competitive on the world stage, then Government must shift the dial further on investment, both within the UK and from overseas.

The most recent British Chambers of Commerce (BCC) survey on investment found that only a fifth of firms were increasing investment and a similar number were reducing it. This budget looks unlikely to change that dynamic as we cannot expect firms to invest when they are fighting to survive.

However, some welcome news from Mr Hunt’s announcement that Stoke-on-Trent has been chosen as one of 20 areas to benefit from a new £400 million Levelling Up partnership. The government has yet to reveal details and it is not known what the projects the money will support. Mr Hunt said the scheme was part of the government’s drive to give ‘more control for local communities over their economic destiny’ which would ‘level up wealth generation and opportunity everywhere’.

Chris Alderman, Tax Director at RSM Stoke-on-Trent who chairs the Chambers’ Money Matters Forum, commented that the Chancellor promised a ‘Budget for Growth,’ but many taxpayers would be forgiven for feeling somewhat underwhelmed by the measures announced from a tax perspective, saying that: “Only time will tell whether the changes announced do anything to address the UK’s low productivity and inspire the ‘economically inactive’ into work.”

You can read Chris’s full summary of the budget in our Daily Focus here: Financial analysis of Chancellor’s budget – Daily Focus (daily-focus.co.uk)

You can also view the British Chambers of Commerce full review of the budget which looks at key issues of skills shortages, business rates, energy support and trade here: BCC IN-DEPTH BUDGET RESPONSE: Measures unlikely to shift dial on business investment (britishchambers.org.uk)

Full details of the Budget including the Chancellor’s full statement can be found here: Spring Budget 2023 – GOV.UK (www.gov.uk)

If you want to talk to us about any business issues, including funding, 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

It can’t have escaped your notice that Wednesday was International Women’s Day, and we hosted our own special event to celebrate the day with over 120 women turning up to the Doubletree by Hilton on Festival Park, sponsored by Brampton Recruitment,  to witness a stellar line up of inspirational women speakers, each with a very powerful message.

Trinidad born but naturalised Stokie, Gabriella Gay opened the proceedings with a powerful poem – ‘In Our Sisterhood’. As well as holding the position of equality and diversity officer of the Keele University Postgraduate Association, Gabriella is the founder of Stoke’s Roaming Poets, a group of local poets who take poetry to the streets, a trustee of the New Vic Theatre, a cultural advocate for Stoke and strong believer in the power of the spoken word.

Stand-up comedian, author and motivational trainer Kirsty Hulse has trained almost 20,000 people to be more confident. Up until the lockdown announcement in March 2020 she was married, living in London, and had plenty of work booked. Three months later she had separated, lost all her work bookings, and moved back to Stoke-on-Trent.  Her message that hardly any of us are born confident and her ‘well yeah’ approach to doing anything certainty struck a chord with the audience.

Next up were JCB Academy Year 13 students Georgia Cobley and Kate Bradbury. There are 180,000 engineers needed annually to plug the gap in STEM related jobs and the JCB Academy has the aim of changing this by developing engineers and leaders with both young women making their contribution by gaining places on degree apprenticeships with Rolls Royce and JP Murphy respectively.

Natalia Pilgui had the perfect life in Kharkiv, Ukraine. Married with two young children and her own educational centre, Only English. When Russian shells started falling on Kharkiv on 24^th March 2022, the family hid in a basement for eight days before deciding to make the six-day journey to the Polish border. Natalia and family ended up in Staffordshire thanks to a sponsor in Uttoxeter. Natalia found Staffordshire Chambers of Commerce and the Positive Pathways programme which helps refugees back into employment. She still runs her business online, with colleagues displaced around Europe, and helps other refugees in Staffordshire to regain confidence and a sense of purpose through engagement with Positive Pathways.

Lastly we heard from, Carrie Somers founder of Fashion Revolution, a global movement which arose from the Rana Plaza garment factory disaster in Bangladesh in  April 2013. Fashion Revolution is the world’s largest fashion activism movement campaigning for systemic reform of the fashion industry with a focus on supply chain transparency. Carrie also founded Pachahuti, a fair-trade Panama hat manufacturing business which has a shop in Leek.

I am immensely proud of the contribution that these and countless other inspirational women play in making our community so diverse, innovative and positive.

Staffordshire Chambers reflects this with a 50-50 split between women and men on our board and this carries on through all our areas of activity.

If you missed today’s event, don’t worry as there is still time to book a place on the ‘Confidence Live’ event at the King’s Hall, Stoke on 30^th March. It boasts a line-up of expert speakers, including award-winning journalist, Caitlin Moran, Kirsty Hulse. There are also interactive workshops where you’ll learn proven strategies for increasing self-awareness, setting and achieving goals, and overcoming obstacles. The event is discounted for Chamber members, and you can find out more and book your place here: Confidence Live – Staffordshire Chambers

If you want to talk to us about any business issues, including funding, 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