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

The latest Quarterly Economic Survey (QES) – the UK’s largest snapshot of business sentiment ahead of next month’s Budget – paints a challenging picture of the national economy. Confidence remains flat, investment is subdued, and many firms are still feeling the strain of prolonged cost pressures and policy uncertainty.

But while the national mood may be muted, here in Bedfordshire the story is one of quiet determination, adaptability, and local strength.

A Tough National Backdrop

Taxation and inflation are now top concerns, cited by 59% and 57% of respondents respectively – both the highest levels seen this year. Labour costs remain the single biggest pressure point, highlighted by 72% of firms, rising to 80% in hospitality and 78% in transport.

As David Bharier, Head of Research at the BCC, notes: “Ahead of the Chancellor’s statement next month, our survey shows many firms remain bruised and are not ready for another Budget battering. For twelve months, SMEs have told us the same story: rising costs, weak investment, and little sense of relief on the horizon.”

Local Confidence in Testing Times

Here in Bedfordshire, while the challenges are real, our conversations with members tell a more balanced story. Yes, rising costs and tax uncertainty are real challenges – but they are being met with resilience and ingenuity.

Across sectors, businesses are holding their nerve. They’re focusing on efficiency, nurturing relationships, investing in skills, and innovating where it matters most. While many are waiting for greater fiscal clarity before committing to major investment, they’re not standing still.

It’s this mindset – pragmatic, connected, and forward-looking – that continues to define our local business community.

Investment Squeeze and the Call for Stability

The QES findings echo what we’re hearing from our members: uncertainty around future taxation and regulation is holding back investment. A quarter of firms nationally are scaling down plans, particularly in sectors already operating on tight margins.

Locally, several businesses have told us they’re delaying major capital expenditure until the fiscal picture becomes clearer. That hesitation is understandable, but it also reinforces the importance of stability and consistency in government policy.

Our message to government is clear: now is not the time for surprise measures or further tax rises. Businesses need confidence, a long-term strategy for growth, and practical support to address the skills, infrastructure, and export challenges that underpin competitiveness.

Confidence Built on Community

While national confidence may be subdued, Bedfordshire continues to demonstrate the power of community. Through Chamber events, peer learning, and collaboration, businesses are sharing knowledge, supporting one another, and creating opportunities in spite of the headwinds.

This is where we at the Beds Chamber plays a vital role. We’re ensuring your voice is heard nationally through the British Chambers of Commerce network, while providing local insights, resources, and connections to help you navigate what’s ahead.

Looking Ahead

We will continue to push for a Budget that backs business – one that avoids further burdens, rewards investment, and lays the foundation for sustainable growth.

Because while national sentiment may be bruised, Bedfordshire businesses have shown time and again that they are not beaten. Together, through collaboration, resilience, and shared ambition, we will keep moving forward.

To learn more about joining the Bedfordshire Chamber of Commerce, visit www.chamber-business.com or call 01582 522448.