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

Businesses and organisations across Bedfordshire took part in Luton’s Enterprise Day on Monday 10 November 2014.

Today the British Chambers of Commerce (BCC) has published its Autumn Statement submission, calling on the government to introduce new measures to accelerate the progress of infrastructure projects that are critical to businesses, both locally and nationally.

• The BCC’s Workforce Survey highlights that businesses are optimistic about jobs and growth, but many are concerned that burdensome regulations could put this at risk
• More than half of firms (54%) expect to increase their workforce over the next 12 months and 59% have reported that average pay increased in line with or above inflation last year.

Grants4Growth is a capital grant scheme which is being delivered across the East of England.  It is funded by the European Regional Development Fund and comes to an end in March 2015.  Bedfordshire has not received as many grants as the other counties so I am trying to get the word out there and get grants to businesses investing in growth here.  Since I came into this role, 50 Bedfordshire businesses have enquired, lots of applications are underway and 3 have been approved.

• BCC’s Quarterly Economic Survey is the first major economic survey of the quarter, and is closely watched by the Bank of England and the Treasury
• The results show that whilst the economy is still growing, it slowed in Q3. Manufacturing and export balances were down on the quarter.

Commenting on the outcome of the Scottish Referendum that Scotland will remain part of the United Kingdom, John Longworth, Director General of the British Chambers of commerce (BCC) said:

“The people of Scotland have spoken. Their historic decision to remain part of the United Kingdom will be a relief to many businesspeople and a disappointment to others, but it was a decision for the Scottish people alone to make.

London Luton Airport partners with local business to keep economic growth on the agenda

BCC Business Manifesto calls for wide-ranging action from the next UK government to achieve a ‘more confident and more enterprising Britain’

• BCC publishes its latest EU Business Barometer to coincide with key appointments to top EU positions at the European Council meeting
• The results indicate a growing level of support for a renegotiated relationship with the EU
• Businesses want to remain in the EU, but with more powers transferred back to Westminster

• BCC upgrades 2014 GDP growth forecast from 3.1% to 3.2% - the highest growth rate since 2007
• Growth forecast for 2015 upgraded from 2.7% to 2.8%, but remains unchanged for 2016 at 2.5%
• First increase in official interest rates to 0.75% expected in Q1 2015
• GDP growth will continue at a strong pace of 0.8% in Q3 2014
• Exports of goods and services downgraded: from 1.9% to 0.8% for 2014, from 4.2% to 4.1% for 2015
• John Longworth: “We must ensure the stellar growth in 2014 is not a flash in the pan”

Delivery and courier business National Sameday in Luton has hired four new employees and safeguarded the jobs of two others thanks to a grant awarded by Velocity Business Support.

• BCC publishes the results of its international trade survey highlighting the untapped potential of service sector exporters in rebalancing the UK economy
• The BCC calls for action to tackle language, regulatory and funding barriers to encourage potential exporters to take their first step towards doing business overseas
• John Longworth: ‘If we can convert this untapped export potential into a reality, this could go a long way towards eliminating the overall trade deficit and rebalancing the economy.’

• BCC’s Quarterly Economic Survey is the first major economic survey of the quarter, and is closely watched by the Bank of England and the Treasury
• The results from 7,000 UK businesses are positive overall and point to continued economic growth
• Most key balances show falls in Q2 2014 when compared to the unusually strong Q1 figures
• For manufacturing and services, all the key Q2 balances are stronger than their long-term averages, and most are still higher than their 2007 pre-recession levels

The South East Midlands Local Enterprise Partnership, SEMLEP, has today been awarded a Local Growth Deal of £64.4 million investment into the area – set to create over 4,200 new jobs and more than 3,800 new homes by 2020.

EXCELLENT PERFORMANCE ACROSS THE BOARD FOR BEDFORDSHIRE BUSINESSES

A new report published  has revealed that Bedfordshire’s top 100 businesses are in much better shape than this time last year, showing excellent growth in profitability with earnings up 13%.

Giving his reaction to the Queen’s Speech announced today, John Longworth, Director General of the British Chambers of Commerce (BCC) said:

This year, the British Chambers of Commerce (BCC) is proud to be hosting its 11th annual Chamber Awards ceremony. Businesses across the country are invited to take part and showcase their talents and achievements through a series of regional heats, culminating in the national final, which takes place in London on November 27th 2014.

As voters across Britain and Europe prepare to go to the polls this week, the British Chambers of Commerce’s latest EU Business Barometer shows a substantial increase in uncertainty among UK businesses over the future of the UK’s relationship with the European Union.

Business Secretary Vince Cable is visiting automotive specialist Millbrook in Bedford today (10 April) as it is announced the company will take a share of £6 million awarded to East of England projects from the Government’s Regional Growth Fund (RGF).

The Government’s Regional Growth Fund will invest £300 million in 50 projects across the country to create tens of thousands of jobs and fuel business expansion, the Deputy Prime Minister Nick Clegg announced today.

BCC Quarterly Economic Survey: service sector exports at new all time high

• BCC Director General, John Longworth will address the business group’s Annual Conference at the QEII Conference Centre, Westminster at 09.45am on Today
• Keynote speakers include: Rt Hon Philip Hammond MP; Rt Hon Michael Gove MP; Rt Hon Dr Vince Cable MP; Rt Hon Ed Balls  MP; Karren Brady; Theo Paphitis and chief executives of a range of UK businesses
• Media can register for a free press pass by contacting the press office Today, the British Chambers of Commerce (BCC) will hold its Annual Conference at the QEII Conference Centre in Westminster. 

Businesses can encourage staff to travel more sustainably to work thanks to business grants available from Central Bedfordshire’s Travel Choices.

From local standout to national champion: Chamber Awards to put best of British business on the map

• BCC upgrades GDP growth forecasts from 2.7% to 2.8% in 2014 and from 2.4% to 2.5% in 2015
• UK GDP expected to exceed  its pre-recession peak in Q2 2014 – one quarter earlier than we forecast in December
• The first increase in UK interest rates expected in Q3 2015 to 0.75%

• BCC predicts that wage growth will exceed inflation from mid-2014
• The youth unemployment rate is expected to remain almost three times the national average over the forecast period (2014 – 2016)

Confidence at record high among exporters but more support needed to reach £1trillion target, says BCC/DHL report

The Mall, Luton has announced the launch of its eighth annual Retail Factor competition this January. The competition provides small businesses, both start up and established, with the opportunity to trade rent free in The Mall for a three week period. All businesses that don’t already have a permanent presence are invited to apply.

BCC Annual Conference 2014: Ed Balls, Theo Paphitis and Sir John Armitt join business leaders to discuss how to move the economy from Good to Great

BCC Economic Forecast: GDP to surpass pre-recession peak in second half of 2014

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