Latest updates and stories from Bedfordshire Chamber of Commerce and its Members

Commenting on the inflation statistics for January 2022, published today by the Office for National Statistics, Head of Economics at the BCC Suren Thiru, said:

“Rising inflation highlights both the cost-of-living crisis facing households and the uphill struggle for businesses to keep a lid on price rises amid surging cost pressures.

• 73% of firms in a new survey say they are raising prices in response to rising costs

• More than 3 in 5 (62%) cite soaring energy bills as driving factor, rising to 75% for manufacturers

• 63% site increased wage bills as driving prices rises

• British Chambers of Commerce call on the Chancellor to adopt their five-point plan to address these challenges. These include a temporary energy price cap for small businesses and the extension of the financial support announced for households last week to include small firms

The British Chambers of Commerce has warned the Treasury of an impending ‘cost of doing business crisis’. A new survey of more than 1,000 businesses, showed that firms across the country are under intense pressure from a variety of costs. It found that prices were likely to rise as a result, further fuelling the cost-of-living crisis for households.

In response to the new research, BCC Director General, Shevaun Haviland, has written to Chancellor Rishi Sunak warning of the dangers facing firms. The British Chambers of Commerce has outlined a five-point plan, which if implemented, will help businesses to weather the current conditions and keep price rises under control. These measures included a temporary energy price cap for small businesses, extending the Chancellor’s energy bills rebate scheme for households to smaller businesses and delaying the planned National Insurance rise by 1 year.

Survey Results

When firms were asked if their business was facing pressure to raise prices from a variety of sources the results were as follows: 

Pharmacy and Health Clinic, Smarta Healthcare, has a lot to celebrate this National Apprenticeship Week, after gaining a new team member in the form of Pharmacy Services Assistant Apprentice, Hardeep Kaur Sanghera.

Responding to the publication of the Levelling Up White Paper, Shevaun Haviland, Director General of the British Chambers of Commerce, said:


“This is an important first step in putting local economic prosperity at the heart of Government policy.

Sherington woman celebrates 10 years in business

Jo Wareham, founder of The Little Branding Company, is celebrating ten years in business.

On the second anniversary of Brexit, and with huge lorry queues being reported at Dover last week, the BCC is calling for urgent action to improve trade with Europe.

Thousands of working families in the East of England could be missing out on an opportunity to get up to £2,000 a year to help with the cost of childcare, HM Revenue and Customs (HMRC) is reminding parents, ahead of February half term.

The UK sovereign Land Environment Air Picture Provision (LEAPP) capability, developed by Lockheed Martin UK for the British Army, has its in-service date extended to 2029.

The British Chambers of Commerce is today setting out its manifesto to recruit legions of new UK exporters as its research continues to show poor overseas trade growth:

• In Q4 of 2021, just over a quarter of exporting firms (29%) saw their overseas sales increase

• Almost half (47%) saw no change, and a quarter (24%) reported a decrease

• This is despite substantially more firms reporting improved domestic conditions, with 45% confirming increased UK sales in Q4

There’s a wide world out there just waiting for your business to fulfil its needs for goods, products, and services.

But how do you tap into these international markets? And how do you navigate customs, VAT, freight, local language and business culture, and every other challenge along the way?

• More than half of firms believe their exposure to attack has increased due to working from home arrangements

• One in 10 firms have been the victim of a cyber-attack in the last year

• This rises to more than one in seven for larger firms with more than 50 employees

• Only one in five firms have cyber-security accreditations in place

• 58% of firms expect their prices to increase in the next three months, the highest on record. 66% of businesses cited inflation as a concern, also a record high
• 1 in 4 (27%) firms were worried about rising interest rates, as concerns over rate hikes among manufacturers reach record high
• Just under half of firms (45%) reported increased domestic sales in Q4, compared to 47% in Q3

• 45% of firms in a new survey reported difficulties adapting to changes in rules for buying or selling goods brought about by the UK-EU Trade and Cooperation Agreement (TCA), while 15% reported that this was easy

• Nearly 1 in 4 (23%) said they faced difficulties of buying or selling services, while 14% found it easy

• 1 in 5 (20%) reported difficulties moving people, while 8% found it easy

• The BCC also launched a report alongside the survey which explores solutions to the issues

The UK left the Brexit standstill transition period on its expiry on 1
January 2021. The terms of the new EU-UK trading arrangements –
in the Trade and Co-operation Agreement (TCA) – took effect the
same day. In accordance with this, the EU decided to introduce full
border controls on GB goods from 1 January 2021. The UK
Government decided to defer the implementation of inbound GB
border controls in respect of EU goods until 1 January 2022.

Commercial property consultancy Kirkby Diamond has today announced it is expanding further by joining forces with the Milton Keynes and Bedford operations of Brown & Lee Chartered Surveyors.

It’s that time of year again when we look back to the triumphs and tribulations of the past and raise a toast to the opportunities of the future. And from where we’re sitting, there’s much to report!

Many of us question whether we have what it takes to succeed in business, but what qualities do we actually need to possess to be a successful business person? Is an outgoing personality a must have? Do we have to be a natural self-starter? Or do we just have to be beguiling enough to influence and persuade clients? 

Setting and managing budgets for your business can be a challenge. After all, planning how to spend what you can’t be sure you’ll have is something of a moving target!

With this in mind, we’ve put together a whistle-stop guide to take you through the budget essentials, and point you to advice and resources we at the Chamber offer to help make budgeting if not a breeze, then at least a little less turbulent.

Award-winning importer and distributor of wine, Hallgarten & Novum Wines, has secured a new office headquarters in Bedfordshire, commercial property consultants Kirkby Diamond announced today.

Hallgarten, one of the UK’s leading specialist wine merchants, has agreed a 15-year lease on 8,000 sq ft of new office space at Mulberry House, Capability Green, in Luton. Kirkby Diamond was instructed by Hallgarten to acquire headquarters premises in the region.

With the new year looming on the horizon and the economy finally getting back on track, with specialists predicting we will be back to a pre-Covid economy by December, now is the perfect time to be thinking about the future of your business and looking at your strategic plans for 2022 and beyond.

Here at the Chamber, we can provide you with specialist one-to-one support to help your business succeed and grow in 2022.  Read on to find out more.

A trio of new lettings have been completed at a popular Luton industrial estate by commercial property consultants Kirkby Diamond.

Independent trade-only plumbing and heating merchant Williams Trade Supplies Ltd, which has 39 branches across England and Wales, has agreed a 10-year lease on unit 49, a 5,703 sq ft mid terrace trade counter at Bilton Way industrial estate.

The Bedford College Group Business Development team is leading the way by example with training up the next generation of sales and support professionals.

Learning from experienced individuals (the business squad recently boasted it had 100+ years of experience among its team), apprentices have moved on to more senior roles in the organisation adding value and demonstrating loyalty to the “Best College in the UK”.*

The Foxley Kingham Anniversary Foundation has raised over £8800 for their charity partner Level Trust over the past six months. Level Trust provides vital help and support for children and families in the local area.

If the last couple of years has taught us anything, it’s that businesses need to expect the unexpected.

A period of massive political and economic change has meant trading has been extremely difficult, in particular for small- and medium-sized firms, who will have seen their cash flow significantly hit.

• Nine out of 10 firms have not done any assessment on a series of key strategies for managing a sustainable transition to net zero

• Two thirds (61%) said either capital grants or tax allowances would do most to encourage them to reduce their carbon consumption in the long term.

• Most firms recommend the government focus on a transition to more efficient sources of energy

Businesses have adapted to remote working to protect staff and to help curb infection rates during the pandemic. The world changed almost overnight and Zoom and Teams meetings soon became the norm, so it comes as no surprise that returning to “normality” would present some challenges.

Giving her reaction to the Chancellor’s budget, Shevaun Haviland, Director General of the BCC, said:

“There is much to welcome in this Budget for business communities across the UK.

A team of building consultants is laying new foundations for expansion by increasing its operations in Bedfordshire.

Kirkby Diamond’s building consultancy department is dividing its operations between Shenley Wood, Milton Keynes, and Chobham Street, Luton, as it seeks to expand its services to customers further south along the M1 motorway.

   
• Proportion of UK exporters reporting increased export sales (30%) rose slightly from Q2 (27%)

• However, proportion reporting decreased sales remained stubbornly and historically high at 26%, while 45% report no change

• Recovery in manufacturing exports began to fall back slightly from previous quarter

Boosting your sales performance is a main objective for any business, regardless of size.  But how do you increase sales effectively?  The customer should always be your main focus, as opposed to just focusing on profit, but there are some other key ways to enable you to take your sales to the next level.  Here are eight ways to enable you to do just that.