Congratulations to Rishi Sunak on his appointment as our new Prime Minister. He must get on immediately with the serious business of steadying the political and economic uncertainty that has been hugely damaging to business confidence.
This means setting out fully costed plans to deal with the big issues facing businesses, soaring energy bills, labour shortages, spiralling inflation, and climbing interest rates.
What is frustrating is that many businesses I talk to have full order books and work in the pipeline, but it is the factors above that are hampering progress and medium to long-term strategic planning.
We cannot afford to see any more dithering on policies – businesses need a sustainable, long-term economic plan they can believe in.
The British Chambers of Commerce (BCC) has written to the Prime Minister to set out the action needed to tackle the main challenges facing business. It is vital we see progress made in these areas to keep doors open and promote investment.
Firstly, the Government must provide more certainty on the energy support package for businesses and quickly communicate how the system will work from April. Firms need to know what support to expect in the medium and long term.
Secondly, they must fix the extremely tight labour market. Without the skilled people to do the jobs businesses need, the economy will stagnate.
Thirdly, to grow the economy, Government must set out a strategy to boost our international trade and exports.
People run businesses and businesses rely on people. The new administration must grasp that the cost of living and cost of doing business crises are two sides of the same coin.
We need a clear long-term vision of how the new Prime Minister will deal with the challenges ahead and create the business conditions that allow firms, and the communities that rely on them, to thrive.
As always please let us have your thoughts, comments and questions so that we can represent your views to the PM and Cabinet via the BCC.
Get in touch by emailing: info@staffordshirechambers.co.uk
Picking up on the second priority above around skills, I am delighted to announce that we are holding a Skills Summit in partnership with Staffordshire University taking place on Friday 25th November 2022 from 8.30am.
There will be a discussion around the new Local Skills Improvement Plan (LSIP) project, and a talk from Kelly Nicholls, the CEO of TechSkills.
Staffordshire Chambers of Commerce have been chosen by the Secretary of State for Education to lead the development and delivery of the LSIP for Stoke-On-Trent and Staffordshire and this presents us with the exciting opportunity to build upon our work with the local skills agenda and bring together employers, training providers and other key stakeholders across Stoke-on-Trent and Staffordshire to continue to respond to our skills priorities.
We are fortunate to have tremendous cooperation between businesses, schools and further and higher education providers in Staffordshire and the Chambers’ HR, Employment & Skills Forum has done some great work in addressing the skills problem locally.
The Skills Summit is a chance to build new and cement existing partnerships across the skills and employability sector, and an effective way of addressing skills challenges facing Staffordshire.
The Skills Summit takes place in the fantastic new Catalyst building at Staffordshire University and is a great opportunity to find out about the local skills agenda, contribute to its future as well as networking with new and existing business contacts.
Businesses will also be able to find out more information about the business support that Staffordshire University can offer to your business, including the opportunity of Higher-Level Apprenticeships.
The event is free and includes breakfast. Book your place here – https://staffordshirechambers.co.uk/product/staffordshire-skills-summit/
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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