Declan’s Blog:
Earlier this week, the Bank of England opted to pause interest rates at 3.75%. It wasn’t a surprise, as the Bank continues to grapple with the dual challenges of domestic cost pressures and a very unpredictable global outlook.
With so much uncertainty, we’re keen to get a check on business confidence here in Staffordshire, as we launch our latest Quarterly Economic Survey (QES) – Q1, 2026.
Every three months, all 51 UK Chambers’ of Commerce roll out the QES, which is the longest running independent survey of business sentiment, having started life in 1989.
QES provides a measure of the levels of business confidence and outlook and is widely acknowledged by the likes of the Bank of England as a really useful indicator of how the economy is performing.
In the last year, QES responses have picked up a slowdown in business confidence. April 2025 saw the implementation of higher National Insurance employer contributions and a rise in the Minimum Living Wage, with business owners grappling with higher costs.
Throughout much of 2025, QES responses picked up a trend of more businesses reporting a pause on investment in plant, machinery and staff training. In our last QES (Q4 – 2025), it was something of a relief to see a rise in business investment. Very early signs of business confidence returning, perhaps?
As we head through the first quarter of 2026, how are your levels of business confidence? Please share your feedback by taking the time to complete our QES. Survey responses can be completed anonymously, and results are compiled and shared with the British Chambers of Commerce (BCC), who will publish an overall summary of national results. Here at Staffordshire Chambers’, we’ll be analysing results in the county and making both regional and national comparisons.
The QES comprises a short bank of questions, most of which have a simple tick box response. It takes little more than 60 seconds to complete and by taking part, you’ll help to paint a picture of local and national economic performance. We’re keen for QES responses to be reflective of a wide mix of business sectors and business sizes.
Please spare us a minute of your time. Your response can be really valuable. Click here to open QES – Q1 – 2026:
