Chris’ Blog: My Chamber story
Sara is away on a well-deserved holiday this week, so I am stepping into her regular blog spot.
I started my career as an apprentice at Southern Staffordshire Chamber of Commerce in 2008 and I have been working at Staffordshire Chambers since 2014, heading up the membership, marketing and events teams.
I wouldn’t have stayed in the movement so long if I didn’t firmly believe that Chambers are a force for good and play a vital role in representing and supporting the businesses that provide employment and make Staffordshire such a creative, diverse, and innovative county.
One of the parts of my job that I enjoy most is getting out to visit our members and patrons.
This week I caught up with patron Synectics Solutions in Burslem where I was given a tour of the business by CEO Richard Wood.
Synectics Solutions has grown from humble start-up in 1992 to become one of the UK’s leading businesses, harnessing data to deliver effective and innovative fraud and financial crime prevention solutions.
The technology they employ is mind-bending. I’m no technophobe but I had to admit defeat in beginning to understand the workings of their sophisticated computers.
I was far more comfortable talking about business culture and the importance of looking after your people. Everyone I met showed a genuine enthusiasm and pride in their work and had bought in fully to the Synectics culture.
Synectics Solutions are one of an esteemed panel of 25 patrons of Staffordshire Chambers of Commerce.
Our patrons really are a who’s who of Staffordshire business with businesses and organisations representing, manufacturing, services, education, healthcare, local government, and the armed forces.
Organisations become patrons of the Chambers for various reasons such as brand recognition, building networks and to further their position as an influencer and leader on the topics that matter most to local businesses.
And that last point to me is the essence of a patron. They recognise that they are in a position where they can offer something back to the business community.
Patrons are represented on our board, council, and all our member forums, which cover every aspect of business. They provide speakers for our events, mentors for our Let’s do Mentoring scheme and are always available to speak to the media on our behalf and add their voice and weight to our representation and lobbying work to government.
Our three universities and all the major FE colleges in the county are patrons, cementing the vital link between education and employment and ensuring the skills agenda is at the forefront of our agenda.
As you know, the Chambers supports our armed forces and through patron, West Midlands Reserve Forces & Cadets Association ourselves and many organisations are signatories to the Armed Forces Covenant, setting a priority for employing ex-services personnel.
As employers they provide tens of thousands of jobs and have been pioneers in post pandemic flexible practices.
You can find out more about becoming a patron at: Patrons – Staffordshire Chambers or by contacting Karena Pawlak karena.pawlak@staffordshirechambers.co.uk
So that’s it from me in my debut blog. It just remains to wish you all a relaxing August Bank Holiday weekend and I look forward to seeing many of you at our exciting forthcoming Autumn events including Let’s do Business and the Staffordshire Business Festival.
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
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Life Coach Helen gains positive outcomes for thousands
Wellbeing and resilience life coach Helen Dos Santos has hardly paused to take breath since launching her own business in nearly six years ago.
Helen was born in Stoke-on-Trent but grew up in Zimbabwe. She has run her Newcastle-based business, Horizons Coaching, since October 2016 and has worked with over 11,000 people experiencing emotional or mental difficulties. This staggering number does not consider the ripple effect on family, friends, and work colleagues.
Her ‘light-bulb’ moment which led to setting up her own business came around six years ago when a psychiatrist told her: “You have done more for this patient in three sessions then the NHS has done in two years”.
After spending most of her working life employed by large organisations, Helen started her mental health and wellbeing coaching journey at her last place of employment. Having undertaken some intense work with one staff member, Helen was contacted by a senior psychiatric consultant who was so intrigued by her approach she invited Helen to be a guest speaker to 40 local psychiatric consultants.
Helen said: “It was at this time I decided it would be more rewarding to be changing people’s lives as a full-time job”.
“I started my business in October 2016 as a sole trader, with the support of Staffordshire Chambers of Commerce, through their start up programme and mentoring service. I took expert guidance from well-established business people and gradually gained the confidence to market my 1-2-1 coaching support and wellbeing and resilience workshops to the education, private and public sectors.”
Paul Simpson, CEO from Derby City Council said: “Helen has worked alongside our HR team and our occupational health manager, who have referred identified staff to her at a point when a mental health issue has been identified, but prior to the individual being booked off sick by a GP”.
“Not only is there a financial benefit to this, but also less stress placed on other team members who would have otherwise had to pick up the work of the absent individual. My understanding is that Helen will be included in further work (mental health training for managers and staff workshops) as the Council’s wellbeing strategy is developed.”
Continual development and training has always been at the heart of Helen’s work as she constantly looks for ways to improve herself and the experience offered to her clients. Since qualifying as a Havening Techniques Certified Practitioner, Helen has achieved great results working with the military, and now hopes to expand her work into the ‘blue-light’ emergency services where it is vital to address mental health and trauma.
Helen added: “I thrive on having a positive impact on someone’s life, where I have either prevented them from going off ill, or helped them to return back into work – there is no greater feeling than making a life-changing difference”
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Sara’s Blog: International trade priorities for the new PM and member benefits to ease holiday stress
The summer recess marks a respite period for many from an intense period of policymaking affecting trade. But as a new Prime Minister takes office on 6th September, the in-tray on international trade issues will be daunting.
First, The Northern Ireland Protocol Bill completed its Commons stages this week. This provides UK Ministers with the legal powers domestically to over-write the Protocol and introduce check-free, friction-free movements of goods East-West and West-East across the Irish Sea for Great Britain and Northern Ireland. The EU is expected to launch new legal proceedings against the UK Government within days for alleged breaches of the Withdrawal Agreement. Should the Bill become law the EU is expected to respond with further actions including safeguard measures (tariffs) on selected UK exports while the matter is resolved. The British Chambers of Commerce (BCC) is prioritising a negotiated solution, but potentially affected companies should be taking advice now to mitigate potential problems.
Second, the Government launched its consultation document yesterday on a Single Trade Window (STW) designed to be rolled out from December 2023 as part of the new Target Operating Model (TOM). This will incorporate border control processes for goods entering GB from the EU and the rest of the world. The STW is designed to provide a single user portal for a range of border and customs processes and greater efficiency in holding times for goods.
Third, an autumn campaign on preference utilisation rates among SMEs is being prepared. The BCC is involved in discussions with the UK Government about outputs and delivery, following research findings from members that awareness and ways to use new trade agreements being made by the UK with other trading partners was very low. The aim is to increase volumes of exports and numbers of companies exporting. Initially five markets will be prioritised: Australia, New Zealand, Singapore, Japan and Norway.
Fourth, an intensive series of negotiating rounds will be required to complete some and progress other key trade negotiations. Negotiations with India are expected to be completed by 24th October. Canada trade agreement negotiations are expected to conclude by the end of the year to tie-in with UK accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Negotiations with the Gulf Co-operation Council, Mexico and Israel are also getting underway.
Fifth, delivering an export strategy which provides a pathway to stronger export-led growth will be key this year. The Office for Budget Responsibility forecast in last autumn’s Budget, export growth between 8-9% this year. Trade data from the first half of 2022 puts UK export performance short of that growth trajectory. The BCC is putting plans to DIT to boost export volumes.
So, a busy autumn ahead, as well as unpredictable events such as the impact of the war in Ukraine on supply chains. Keep in touch with us at the contacts below as we guide you through this uncertain period. You can also visit www.staffordshirechambers.co.uk/international-trade
Summer holidays are here and peace of mind when travelling is important to us all.
So, the good news is that as a member Staffordshire Chambers you automatically benefit from a massive discount on AA Roadside Assistance and a discount at car parks at most major UK airports.
Whether you have a small or large fleet of cars or a single commercial vehicle, we can help you to keep your vehicles on the move with Chamber Roadside Assistance.
In partnership with the AA, we’ll ensure you keep motoring at an exclusive competitive price – you can receive up to 67% discount on the cost of business breakdown cover.
We also have a deal with APH airport car parking which slices a further 15% from their already competitive rates. APH offer valet parking and free transport to and from your terminal to get your holiday off to the right start.
And both discounts can be passed on to your employees, making great benefits to add to their package. Get in touch with us to activate these great benefits.
To activate both discounts email membership@staffordshirechambers.co.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
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Michelin staff dig deep to support good causes in Stoke-on-Trent
Staff from Michelin joined forces to make a real difference to the gardens and grounds of two charities in North Staffordshire.
Three teams from the company’s Stoke-on-Trent factory selected Dougie Mac Hospice and Father Hudson’s Care ‘Young at Heart’ Project in the city to deliver hands-on support under the Michelin Volunteering programme.
Two teams from Michelin each spent a day at Dougie Mac helping the charity’s gardening team.
Last year Dougie Mac was awarded an It’s Your Neighbourhood Certificate of Merit by the Royal Horticultural Society and Heart of England in Bloom, in recognition of its effort to create a peaceful outdoor space at the hospice for the well-being of patients, families and staff.
Vicki Stephenson, Gardening Co-ordinator at Dougie Mac, said: “Michelin is always very supportive of the Dougie Mac and we value that immensely.
“We are very proud of the gardens at our Blurton site and it was superb to have the teams over for two days to carry out works across the site which have made a big difference.”
Michelin’s staff also spent a day at Father Hudson’s Care Young at Heart project, where 10 workers cleared out an old allotment area to create a welcoming garden space for older people to come together in Shelton.
Young at Heart offers a range of services to combat social isolation faced by older people in and around North Staffordshire. The project runs lunch and social clubs, outings, and a wide range of activities to improve health and wellbeing.
Bonnie Miles – Befriending Coordinator at Father Hudson’s Care, said: “With Michelin’s ten volunteers we made a really good head start getting the garden up and running.
“The space being created will enable socially isolated older people to come along to potter around and do a bit of maintenance. We’re also going to have a talking bench, where people can come sit and have a chat.
“It’s all to help with mental health, social isolation and loneliness, which is debilitating, so help from the team at Michelin is absolutely wonderful.”
Rob Hewitt, the HR manager of Michelin’s Stoke Factory and European Distribution Centre, said: “Michelin has a long-standing tradition of supporting good causes in our local area.
“Both Dougie Mac Hospice and Father Hudson’s Young at Heart project were selected by our staff through our volunteering programme, so they could collectively make a difference to each charity with their time and resources.”
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SDG 12 Focus with TopCashback
As part of our focus throughout July on SDG 12, Responsible Consumption and Production, we’ve teamed up with Stafford-based firm, TopCashback, who’ve written a guest blog on how they are reducing their impact on the environment.
“TopCashback have three offices located in the UK – London, Bolton, and Stafford. The latter is considered our main HQ. The main impact our business operations have on the environment are the carbon dioxide emissions generated due to the energy required to run our offices, devices, and servers.
We have implemented measures into our different UK offices to reduce our environmental impact. The below are some of our current efforts but we are always looking for more ways to improve. We have a Green Task Force dedicated to helping with these efforts:
- Using power suppliers who are 100% renewable energy
- Using 100% or 99% non-landfill waste management contractors
- Wherever possible using environmentally friendly suppliers for general office supplies
- Using water meters and water shut off timers to prevent leaks or system malfunctions causing major damage and wasting water
- Using contractors who manage the disposal of our IT equipment by refurbishing 85% and then donating to charities and community projects
- Using LED light bulbs to save on energy consumption and movement sensors (applicable to 95% of the Stafford office)
- Surplus office furniture is donated to charities for free
- Inputting various recycling procedures (via our Green Team workforce)
- We have joined the global ‘Race to Zero’ campaign by committing to Net Zero on the SME Climate Hub, making good use of the SBEN Carbon Tracker. To this end, for the last three years we have offset our Scope 1 and 2 emissions plus corporate travel between our offices – and we aim to understand and reduce our Scope 3 emissions.
- We are currently undertaking a solar panel project at our Stafford office. This installation will use maximum roof space available for tier one panels to enable 63W of power production saving approximately 20 tonnes of CO2 per year, relieving stress on the grid by feeding in an allowance set by Western Power. The system will allow us to use 80%+ of the power production while the offices are operational. Our goal is to not just ‘tick a green box’ but to maximise solar capabilities.
- We also invest a portion of our retained advertisement revenue (retained earnings) into organisations that have a genuine intention to generate a tangible, beneficial social or environmental impact
- When it comes to our members, we have a Green Cashback function on site which makes it easy for shoppers to find brands that support sustainable or ethical choices whilst earning cashback too. Please see below for more detail.
- Additionally, our members are able to donate their cashback earnings to a charity of their choice. We have hundreds of options to help the environment and the planet such as Trees for Life, WWF and many more.
About Green Cashback
For members, we have implemented a function/category on TopCashback.co.uk called Green Cashback.
Green Cashback makes it easy for shoppers to find brands that support sustainable or ethical choices whilst earning cashback too.
As a company, TopCashback is always looking for ways to reduce its impact and do more for the environment. We know that many of our members feel the same way, which is why we have introduced this feature. We understand that it is the decision of the consumer how and where they spend their money, but our hope is that by adding this category to our site, we can make it easier for shoppers to discover brands that are committed to sustainable or ethical choices in some aspect of their business – and help them earn cashback too. After all, shopping shouldn’t cost the earth.
We use Ethical Consumer’s database mixed with our own research and criteria to determine which brands should sit in the Green Cashback category on TopCashback. Ethical Consumer is an independent, not-for-profit, multi-stakeholder cooperative with open membership.
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Finest News: Oakleafe complete national awards hat trick
Insurance claims specialist Oakleafe Claims have been crowned as the UK’s Loss Assessor of the Year for the third year in a row.
Judges at the prestigious British Claims Awards 2022 commended Oakleafe’s high standards of customer service, transparency and clever use of technology.
Midlands Regional Manager and Finest member, Grant Williams, said: “It’s a huge honour to win Loss Assessor of the Year in each of the last three years especially as the British Claims Awards are judged by our peers in the industry.
“Winning is recognition for our team who show highest standards and careful attention to detail on every claim. Our customers trust us to take on their insurance claim and ensure they get the outcome they deserve, we are there to take away pain and ensure customer peace of mind.”
Oakleafe has developed an industry leading customer portal which allows customers to follow their claim through from start to finish. The company works with claimants from individual householders through to large companies.
The citation from the judges said: “The winner of Loss Assessor of the Year is highly client-focused, always aiming to go further to ensure that they are suitably covered and educated about their policies. The winner is also a digital native, capable of meeting clients where they’re most comfortable while managing their claims transparently and efficiently.”
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Award Winning Sustainability Firm Secures £120k Growth Funding
A Queens Award-winning laundry efficiency specialist which helps businesses implement more eco-friendly washing systems is expanding after it secured a £120,000 funding package.
Clear Three, based on Ranton Park, Cannock, secured funding from the Community Investment Enterprise Facility (CIEF) managed by BCRS Business Loans, and backed by the Coronavirus Business Interruption Loan Scheme (CBILS)
Funding will enable Clear Three to continue to innovate, strengthen and expand its consultancy services and look to diversify their technology into new markets.
Established in 2017, Clear Three encourage business owners to reduce waste, pollution and the excessive use of natural resources via a mix of consultative support and eco-friendly washing systems.
In 2021 Clear Three were awarded the Queens Award for Enterprise: Sustainable Development for their outstanding commitment to tackling environmental issues within the laundry supply chain.
Clear Three CEO Colin Oakley said:
“After securing funding from BCRS we will be able to use the fund to recruit an additional two people and secure the future of six existing members of staff.
“The investment fund will allow us to not only recruit additional roles but will enable us to branch into new markets and continue to develop new products.
“The loan application process with BCRS was very simple and straightforward. Tracy from BCRS came to meet us, took a tour around the factory and is always on the other end of the phone if we have any questions.”
Tracy Sherratt, a senior business development manager at BCRS Business Loans, said:
“We are so pleased to have delivered the funding that Clear Three need via the CIEF Loan Fund in order to achieve their growth plans.
“As a lender that delivers funding for intentional social and economic impact, it is great news that additional jobs will be created by Clear Three.”
Alastair Davis, CEO, at Social Investment Scotland, said:
“Congratulations to the team at Clear Three on securing this investment to support their growth plans. The CIEF was established with businesses like this in mind and our team wish them every success for the future.”
The Coronavirus Business Interruption Loan Scheme (CBILS) was managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy (BEIS). The scheme ended on 31 March and has been replaced by the Recovery Loan Scheme.
Businesses in the West Midlands region that are struggling to access finance from traditional lenders can secure loans from £10,000 to £150,000 from BCRS Business Loans to support growth and recovery plans. BCRS is a delivery partner for the Recovery Loan Scheme (RLS).
Visit www.bcrs.org.uk to discover more or submit an initial application form.
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Sara’s Blog: Latest survey results present a stark economic landscape for new Chancellor
Results from the British Chambers of Commerce’s Quarterly Economic Survey (QES) for Q2 2022 – the UK’s largest independent survey of business sentiment – were published earlier this week and show key economic indicators flashing red.
A sobering read then for Nadhim Zahawi – or whoever the Chancellor of the Exchequer is next week! One certainty is that they will inherit an unenviable scenario of inflation at a 40-year high, pressure on interest rates and soaring energy, fuel, and food costs.
The survey of over 5,700 firms (including 135 Staffordshire Chambers members) reveals a weakening proportion of firms reporting increased domestic sales, investment intentions, and longer-term turnover confidence.
Indicators for turnover and profitability confidence, as well as investment, all worsened from their Q1 positions. Firms expecting an increase in turnover over the year dropped from 63% to 54%, the lowest figure since Q4 2020 when much of the UK was under some form of lockdown.
Confidence in profitability also took a significant knock with 43% predicting an increase, down from 50% in Q1. More than a quarter (28%) are now predicting a decrease in profits. This decline in confidence in business performance has affected firms’ plans to increase investment, with 75% saying they have no plans to do so (up from 73% in Q1)
65% of firms now expect their prices to rise in the next three months, up from 62% in Q1, a record high and a 23-percentage-point rise on a year ago.
Expected price rises are most acute in the retail and wholesale sector, and construction and engineering sector, both at 78%, with production and manufacturing only slightly behind at 77%.
When asked which factors were driving price rises, 67% cited utility bills, 66% labour costs, 56% fuel and 53% raw materials. In the three sectors worse affected i.e., retail & wholesale, construction & engineering, manufacturing & production, raw materials was the biggest factor.
82% of firms cited inflation as the most worrying external factor. This is the highest on record and a rise from 77% in Q1 – the previous record! The percentage citing interest rates as a concern also rose for the third quarter running; 1 in 3 (33%) reported interest rates as a concern, up from 32% in Q1.
41% of respondents overall reported increased domestic sales in Q2, down from 42% in Q1, and the third consecutive quarterly fall. 18% reported a decrease, the same as the previous quarter.
In the services sector, the balance of firms reporting increased domestic sales stood at +24%, compared to +21% in Q1. In the manufacturing sector, the balance of firms reporting increased domestic sales fell to +19% in Q2, the lowest level since Q1 2021.
So, all in all, a pretty depressing read with all indicators on the Chambers’ economic dashboard flashing red and showing a deterioration since the last survey in March.
Business confidence has taken is low and fears over inflation and cost pressures are at new record highs.
However, as Chambers have been saying for months, it is not too late for the Government to take action to help businesses through these challenging times and put the economy on a more stable footing.
A cut in VAT on energy bills to 5%, and other steps to relieve the tax burden on firms to encourage investment are crucial.
Better infrastructure, a strategy to address labour shortages and a unified long-term economic strategy to give businesses more certainty is also needed.
Let’s hope the current mayhem in the Government is resolved quickly and we get ministers who will listen to our message and prove they are pro-business with a genuine desire to get the economy moving forwards.
We will continue to pressure the government for positive action and urge you to add your voice to our campaign by contacting us.
You can view the latest BCC economic data here: Economic data (britishchambers.org.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
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Policy Spotlight with Rhouda: Quarterly Economic Survey, quarter two results
The British Chambers of Commerce’s Quarterly Economic Survey (QES) is the UK’s largest independent survey of business sentiment, that also highlights UK GDP growth and the latest economic indicators across the nation. The information provided by businesses is invaluable to decision-makers, helping them to assess what support is needed both locally and regionally, and ensuring that business productivity and investment is maintained.
The latest QES for quarter two of 2022 saw over 5,700 businesses take part, with many firms revealing a weakening in domestic sales, investment intentions and longer-term turnover confidence.
Further to this, 82% of firms who were surveyed cited inflation as a growing concern for their business, with 65% of firms expecting to raise prices with no sign that this will level off.
Compared to quarter one of 2022, indicators for turnover and profitability confidence and investment have all worsened. Firms that are expecting an increase in turnover in the next twelve months has dropped from 63% to 54%, which is the lowest figure since quarter four in 2020.
65% of firms now expect to raise their prices in the next three months, a record high and a 23% rise on a year ago today. When firms were asked which factors were driving price rises, 67% cited utility bills, 66% labour costs, 56% fuel and 53% raw materials. The sectors which are worse affected by these high costs are retail and wholesale, construction and engineering, manufacturing and production.
Despite the current downward trend in domestic sales, business activity still remains buoyant. 41% of respondents reported an increase in domestic sales, down from 42% in Q1. In the services sector, firms reporting increased domestic sales stood at 24%, compared to 21% in Q1. However, in the manufacturing sector, firms reporting increased domestic sales fell to 19%, which is the lowest level since Q1 2021.
Sara Williams, CEO of Staffordshire Chambers of Commerce, said: “The declining confidence in business performance has affected many firms’ plans to increase their investment. This of course comes as no surprise as businesses deal with cost pressures from all directions. The rise in inflation has had a detrimental impact on firms’ abilities to invest in their staff, their business and their raw materials, causing a further disruption to business productivity and growth.
“It is now essential that the Government take serious action to help businesses through these challenging times in order to help stabilise the UK’s economy.
“Chambers across the network have echoed the BCC’s call for a 5% cut in VAT for energy bills and to relieve the tax burden on firms which will ultimately encourage further investment. It is now also critical that the Government addresses the labour shortages by implementing a long-term strategy that will help businesses to recruit the right people with the necessary skills for the role.”
In order for confidence to be restored, the Government must quickly demonstrate that it is on the side of business, allowing more firms to invest and return some momentum to the economy.
If you would like to discuss the latest QES results or if you have any business concerns or issues, please get in touch by emailing rhouda.elalfy@staffordshirechambers.co.uk.
- Published in News, Uncategorized
Sara’s Blog: British Chambers of Commerce Annual Global Conference
On Thursday this week I attended the British Chambers of Commerce (BCC) Global Annual Conference in London with five of our patrons; LilaConnect; RSM; Staffordshire University; JPR Group and Newcastle & Stafford College Group.
After a turbulent few years, the conference was an opportunity for business leaders from the UK and around the world to come together and look to a more sustainable and responsible future.
There was a feel at the conference that none of us were here for platitudes and bland statements. We were to challenge and get frank answers on how business and government can work together to achieve stability, growth, and competitiveness.
Through thought-provoking discussions, talks and peer-to-peer sessions and networking, delegates were able to explore and debate how we can individually and collectively rise to the challenges ahead, with a particular focus on:
- PEOPLE – Developing talent now and for the future
- PLANET – Boosting a green global economy
- PROGRESS – Seizing new opportunities
Away from the sessions there was networking time for delegates and a showcase BCC’s dynamic network of UK and overseas Chambers and strategic partners.
In the opening keynote, BCC Director General Shevaun Haviland was in conversation with Chancellor of the Exchequer Rishi Sunak. Shevaun pressed Mr Sunak on how the government can improve support for businesses in these testing times. Lower taxes and less bureaucratic burden being priorities as well as keeping costs down to maintain competitiveness in a global market.
Shevaun Haviland spoke about the missed opportunity of the Chancellor’s Spring Statement. We saw some support for business, but the lack of a clear strategic direction meant it did not give clarity or confidence.
This must change as we are on limited time. The Government has until the autumn budget to reset, rethink, and get their house in order.
We all know that businesses are facing unprecedented challenges, exacerbated by the conflict in Europe, which follows a once-in-a-lifetime pandemic that literally brought life as we know it to a halt. Increasing cost of raw materials over last summer, supply chain and shipping issues, problems in recruiting people, and by this March spiralling energy prices.
Inflation is at a 40-year high, at over 9 percent and interest rates are climbing, dampening business confidence and retail sales are continuing their downward trend
This will all lead to an overall contraction in the economy over the next six months, with just 0.6% growth expected for the whole of 2023.
Next week the BCC will be publishing the findings from their Quarterly Economic Survey from the second quarter of this year. Early signs are that data is telling a bleak story. Less than half – only 43percent of firms, are expecting an increase in profitability in the next 12 months.
However, there is another side to this story that is often under-reported – business resilience. Business owners got through the pandemic using their ingenuity, taking tough decisions, and holding their nerve.
Now, again, in the face of difficult economic conditions, business leaders are showing entrepreneurial spirit – innovating, finding solutions, looking forward, and always holding on to an unfailing belief in their own business, even if they are losing faith in the environment around them.
The Chamber Network of which we are an integral part, exist to support our businesses, to keep speaking to Government and to keep working together to create the conditions for these businesses – your businesses – to thrive.
We have heard some inspiring speeches, and lively debate, unfortunately I don’t have space to list everyone, but Solange Chamberlain, COO of NatWest, former Irish President, Mary Robinson, international Trade Minister, Anne Marie Trevelyan, maths teacher and broadcaster Bobby Seagull, Andy Burnham, Mayor of Greater Manchester, and Mary Portas are a small sample who illustrate the depth of talent and knowledge at the conference.
One of the best takeaways was the views of year 10 students on the way they see the future. As the saying goes: “If you want to shape the future, ask the next generation about the present!”
After all, they will be running many of the businesses here today as well as the new businesses they will create.
And, as always, we need your views on any of the issues here so we can shape our ongoing representation to government. Please get in touch via the contact methods below.
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
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