Apologies if my blog is shorter than usual but last night it was the gala presentation evening for the 2022 Staffordshire Chambers Business Awards last night, at Double Tree by Hilton on Festival Park.

Our Chamber Awards night is my favourite event in the Chambers’ calendar and last night didn’t disappoint.

We received a record number of entries – all of which demonstrated positivity and a sense of looking forward and building toward a bright future for the county’s businesses.

As we all face uncertainty it is fantastic to see businesses as beacons of hope representing the great entrepreneurial spirit of Staffordshire.

Sadly, we couldn’t accommodate everyone who wanted to attend but a live streaming of the event made sure hundreds more people could watch at home or in the office, and it is available to watch again. Our host, stand-up comedian Dave Bryon, worked the room with professionalism and wit – helping to craft a vibrant and fun atmosphere.

The evening shone a spotlight on the rising stars, hidden gems, brilliant employers, and the great talent that helps businesses to innovate and grow.

A huge congratulations to all our winners, especially Cosy Direct who won ‘Business of the Year Award’. They were chosen from the category award winners ranging from young employee or apprentice of the year right up to the large business of the year.

I would like to thank our generous awards sponsors HSBC and all the category sponsors, the judges, the team at the Chambers, the entrants, and all businesses in Staffordshire for doing what you do and being so positive, innovative, and forward-thinking.

You can see a full list of winners and find a link to the streaming of the ceremony here: Awards – Staffordshire Chambers

ONS figures show export growth but a widening trade deficit

The latest trade figures from the Office for National Statistics (ONS) show the pace of recent progress is being maintained, although goods export trade with the EU was not as strong as in April 2022. Machinery, transport goods (ships and aircraft) and fuel exports to the EU all performed well in May.

The widening trade deficit in the three months to May 2022 is a concern – it has risen on that measure on goods for four successive months. Overall, on goods and services, the trend has been upwards during the last five months, in addition to the rise in the current account deficit in Q1 2022.

The underlying message is that growth in services and goods exports is needed to counteract this and soon.

The full ONS data can be viewed here: https://bit.ly/3z2P8sY

This morning, the latest UK gross domestic product (GDP) figures were released by the Office for National Statistics showing a 0.5 per cent growth.

This has come as a pleasant surprise to many analysts, particularly due to the growing imbalances within the economy and the surging rate of inflation which is reducing consumer spending.

Sara Williams, CEO of Staffordshire Chambers of Commerce, said: “It’s great to see that the construction and services sectors have continued to show buoyancy, with services output growing 0.4% in May. Both sectors have faced several different challenges over the course of the pandemic and as with other sectors are hoping to have further consecutive months of growth.

“One of the main driving forces for the growth in GDP is the increase in GP appointments as well as the increase in holiday bookings. Despite this, it is still worrying that the most recent quarterly economic survey showed that longer-term business confidence measures have begun to fall, with the current political instability undoubtedly increasing uncertainty amongst many SMEs.

“We urge the new government to ensure that business needs are put at the heart of their agenda and to enforce direct fiscal intervention to help businesses overcome the pressure that the surge of inflation and rising business costs has caused.”

Hundreds of Staffordshire’s leading business owners and leaders will flock to the DoubleTree by Hilton, Festival Park tomorrow night for our 2022 #StaffsBizAwards.

The achievements of businesses in Stoke-on-Trent and Staffordshire during the last 12 months are set to be celebrated with no fewer than 15 category awards, as well as the coveted Business of the Year award, sponsored by HSBC.

It’s been an extremely tough year for our team of judges who have had to whittle down a record number of applications into a shortlist of three finalists for each category – with the winners to be revealed by award hosts, David Bryon and Hannah East.

The ceremony will be streamed live on our website from 7:00pm tomorrow night. Tune in for free, here.

Remember to use the hashtag #StaffsBizAwards whether you’re joining us at the ceremony or watching online!

Good luck to all of the finalists – we look forward to seeing you tomorrow.

The ongoing conflict in Ukraine has exhilarated inflationary pressures on businesses across the globe. As prices of essential goods, such as food and energy, have risen sharply both in the UK and internationally, the outlook for economic growth has significantly weakened, leaving businesses in a difficult position with regards to investments in trade and skills.

Inflation is also expected to rise to 11% later this year, with interest rates simultaneously expected to increase to 3%, causing many businesses to remain in economic uncertainty. Alongside the labour shortages and a further rise in the energy price cap, which is yet to come, many firms will be put under a great deal of financial pressure.

The Bank of England’s latest Financial Stability Report, published earlier this month, referenced a number of downside risks that could adversely affect the UK’s economic strength. Undoubtedly, developments related to Ukraine are key factors affecting both the UK and global markets. In addition to this, the report highlighted that stronger or more persistent inflationary pressures than currently expected may tighten global financial conditions further and lead to weaker economic growth, all of which will cause risk-taking in financial markets to reduce significantly.

Sara Williams, CEO of Staffordshire Chambers of Commerce, said: “Rising costs for both households and businesses has caused UK economic indicators to start flashing red. The combination of inflationary pressures, slower economic growth and tightening financial conditions means that the government must act quickly to provide financial support to firms across the UK, enabling them to grow, invest and remain productive.

“Staffordshire Chambers of Commerce echoes the British Chambers of Commerce call to the Government to cut VAT on business energy bills to 5% which would help to reduce the pressure on firms.

“It is essential that the new government produces a unified long-term economic strategy to provide firms with the confidence they need.  With these changes, we will be able to return some momentum to the businesses who have struggled the most over the course of the pandemic, Brexit and now the cost of living and cost of doing business crisis.”

If you would like to talk to us regarding any issues in today’s blog, please get in touch by contacting rhouda.elalfy@staffordshirechambers.co.uk. Alternatively, you can call our switchboard on 01782 202222.

Staffordshire Chambers of Commerce is proud to launch a new charitable initiative in partnership with the Stone Group and the Elm Group to help tackle growing e-waste levels across the county.

Businesses and individuals can now hand over their old electronic devices such as laptops and tablets – known as e-waste – to be securely wiped using MOD-approved software, before being re-used or recycled for parts.

In return, Stone Group will make a charitable donation to support the work of A Child of Mine, a charity that provides emotional and practical support to bereaved parents and families.

Stafford Chamber of Commerce President, Martin Lennon, said: “I am delighted to see Stafford leading the way with this innovative programme.

“People can be confident that their equipment will be totally secure and reused where possible, with nothing going into landfill – all while supporting a local charity.

“I would encourage everybody to bring their old phones, laptops and computers to one of our drop-off locations listed below.”

Unwanted devices can be handed at the following sites:

TopCashback –  Temeraire Court, Nelson House, Dyson Way, Stafford – ST18 0WQ (Monday to Thursday, 9am -3pm)

Shire Hall Business Centre, Market Square, Stafford – ST16 2LD (Monday to Friday, 9am – 3pm, from 18.7.22. onwards).

Stafford Indoor Market Office – Earl Street, Stafford ST18 0WQ (Tuesday, Thursday, Friday and Saturday, 10am – 4pm)

With MOD-approved data removal through Blancco and a Valpak accreditation for Zero to Landfill, you can trust that your equipment will be disposed of responsibly.

Following a wave of Government resignations and a Conservative Cabinet revolt, the Prime Minister has resigned, hopefully bringing down the curtain on a chapter of political instability.

It is now essential that the Government moves quickly to support businesses in navigating the challenges and pressures that they are facing from all directions, especially with regards to labour market shortages, costs of raw materials and the cost-of-living crisis.

Sara Williams, Staffordshire Chambers CEO, said: “Following the resignation of Boris Johnson, the incoming Prime Minister and Cabinet 𝗺𝘂𝘀𝘁 ensure that businesses’ concerns are high on their agenda to tackle the issues that are being faced locally, nationally, and globally.

“Johnson has destroyed the trust in Government from both the electorate and the business community.

“His desire to generate a media frenzy throughout his time as PM has been used to distract from wider issues and the impact of policies – some of which have been damaging to British culture and reputation.

“It is imperative that the voice of both people and business are heard front and centre to help fast-track effective policies and support our communities during a time of economic uncertainty. The Opposition and the back benches of the Conservative Party need to stand up for the British people.

“Businesses must be able to trust and rely on Government to rebuild confidence and enable investment, which will drive the economic growth of this country.”

Staffordshire Chambers of Commerce will continue to provide key updates on the latest developments and what they mean for businesses in our region.