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

• 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

• 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

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.

   
• 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

UK business investment is expected to decline this year despite the prospect of record economic growth, according to the British Chambers of Commerce (BCC) economic forecast.

The leading business group predicts UK GDP growth for 2021 of 7.1%, which, if realised, would be the strongest outturn since official records began in 1949.1

• National business survey finds vast majority of small businesses have yet to put targets in place to reduce their emissions – with the pandemic pushing climate action down the agenda

• Just 11% of respondents measure their carbon footprint, although half of respondents acknowledge their customers are worried about the environment

• Larger firms are far more likely to be taking environmental action than microbusinesses

• Over half (52%) of firms say they attempted to recruit in Q2, highest since last pre-pandemic quarter

• Nearly two fifths (38%) expect to grow their workforce in next quarter, higher than pre-pandemic 2018-19 average of 29%

• 70% of those who attempted to recruit now report difficulty finding staff, a 7-point rise from the previous quarter 

The new Director General of the British Chambers of Commerce, Shevaun Haviland, will today set out the action needed to help firms and communities rebuild.

In her first speech at the BCC’s Global Annual Conference, Haviland will argue that key steps are needed to boost UK trade, unlock the blockages in the skills training system and build a greener and more sustainable economy that achieves the aim of net zero by 2050.

• Growth: 63% of firms surveyed confident in their growth prospects over next 12 months

• Restarting: 53% already operating at pre-pandemic capacity; 80% expect to be by October

• Barriers: 38% cited further lockdowns as a barrier to re-opening, while 37% cited ongoing social distancing measures

• Finance: 44% believe access to finance will help overcome the remaining barriers to fully restarting operations

A major new report is calling for a root and branch reform of the UK’s training system to help businesses access the skills they need to boost productivity.

The final report from the Workplace Training and Development Commission (WTDC), set up by the British Chambers of Commerce in partnership with Indeed, follows an 18-month in-depth study of what businesses want from adult skills training provision in the UK.

Speaking after news that the Trade and Co-operation Agreeement has been ratified, Hannah Essex, Co-Executive Director of the BCC, said:

“While there may be relief that the ratification of the TCA has gone smoothly, the reality is that the changes within the agreement have been operational now for almost four months.

Commenting on GDP figures for February 2021 published by the ONS, BCC Head of Economics, Suren Thiru, said:

“The latest data confirms a modest return to growth in February. However, coming after a contraction in January, it does little to alter the prospect of a downbeat first quarter for the UK economy.

The British Chamber of Commerce has signed the Armed Forces Covenant in a virtual signing event attended by the Assistant Chief of Defence Staff, Major General Simon Brooks-Ward CVO OBE TD VR.

Sarah Howard MBE believes women in business have a lot to be proud of but more needs to be done to make sure their voices are heard, especially in company boardrooms.

The Board of the British Chambers of Commerce (BCC) has today announced the appointment of Shevaun Haviland as the new Director General of the organisation.

Giving his reaction to the Chancellor’s budget, Dr Adam Marshall, Director General of the BCC, said:

“There’s much to welcome in this Budget for business communities across the UK. The Chancellor has listened and acted on our calls for immediate support to help struggling businesses reach the finish line of this gruelling marathon and to begin their recovery.

Giving his reaction to the Chancellor’s budget, Dr Adam Marshall, Director General of the BCC, said:

“There’s much to welcome in this Budget for business communities across the UK. The Chancellor has listened and acted on our calls for immediate support to help struggling businesses reach the finish line of this gruelling marathon and to begin their recovery.

Commenting on the announcement of the fund, Suren Thiru, Head of Economics at the BCC, said: 
 
“This is a welcome first step in dealing with some of the major issues that small businesses trading with the EU are facing.

Results from the first major business survey for 2021 by the British Chambers of Commerce on Brexit found that half (49%) of  exporters  are  facing difficulties in adapting to the changes in the trade of goods following the ratification of the UK-EU Trade and Cooperation Agreement (TCA) on 1 January 2021. 

The British Chambers of Commerce’s Quarterly Economic Survey (QES) – the UK’s largest independent survey of business sentiment and a leading indicator of UK GDP growth – found that business conditions remained weak in the fourth quarter as the second lockdown squeezed activity.

 
Commenting on the support measures for business announced by the Chancellor, BCC Director General, Adam Marshall said:   
 
'While this immediate cash flow support for business is welcome, it is not going to be enough to save many firms.

British Chambers of Commerce calls for the government to give businesses more evidence, support and clarity to weather Coronavirus restrictions and help power our economic recovery. 

National restrictions continue to significantly affect businesses across the country. While non-essential retail, hospitality and leisure businesses have had to temporarily close during lockdown, those businesses which are still operating will also have been heavily affected by the pandemic.

Commenting on the government’s updated Border Operating Model, published today, BCC Director of Trade Facilitation Liam Smyth said: 

The British Chambers of Commerce’s Quarterly Economic Survey (QES)

Responding to The Chancellor of the Exchequer Rishi Sunak MP’s announcement of a Winter Economic Plan, including a new raft of measures to support businesses and the economy as the pandemic continues, BCC Director General Adam Marshall said:

The Board of the British Chambers of Commerce (BCC) has today announced that Director General Dr Adam Marshall will leave the organisation in the Spring of 2021.

In a letter to the Prime Minister, BCC President Baroness Ruby McGregor-Smith has said businesses face “the most difficult trading conditions in post-war history” and set out a series of measures

Commenting on the Prime Minister’s announcement of further easing of Coronavirus restrictions from July 4 in England, including the reopening of culture, tourism and leisure venues