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

Commenting on the inflation figures for December 2016 released today by the Office for National Statistics, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:

The British Chambers of Commerce (BCC) today publishes its Quarterly Economic Survey – the UK’s largest and most authoritative private sector business survey. 

The British Chambers of Commerce (BCC) has today (Monday) upgraded its UK GDP growth forecast from 1.8% to 2.1% for 2016, and from 1.0% to 1.1% in 2017. However, it has also downgraded expectations for 2018 from 1.8% to 1.4%.

Giving his full reaction to the Autumn Statement, Adam Marshall, BCC Director General, said:

“Philip Hammond has delivered a responsible, solid and focused package that will reassure both business and markets.

Adam Marshall, Director General, British Chambers of Commerce (November 2016)

The British Chambers of Commerce (BCC) is delighted to announce the appointment of Adam Marshall as its new Director General with immediate effect. Adam initially took on the role on an Acting basis following the resignation of John Longworth in March 2016, and was appointed to the role on a permanent basis following a robust recruitment process.

Commenting on Theresa May’s closing speech to the Conservative Party Conference in Birmingham, Dr Adam Marshall, Acting Director General of the BCC, said:

The British Chambers of Commerce (BCC) Quarterly Economic Survey – Britain’s largest and most authoritative private sector business survey, based on over 8,500 responses from firms in Q1 2016 – suggests that growth in the UK economy continued to soften in the first quarter, with most key survey indicators either static or decreasing.

The British Chambers of Commerce (BCC) has today downgraded its UK GDP growth forecast, from 2.5% to 2.2% in 2016, and from 2.5% to 2.3% in 2017; for 2018, included for the first time in the forecast, GDP growth of 2.4% is predicted.

• BCC launches report on ways to boost the number of women entering well-paid, science & technology and engineering careers on International Women’s Day
• Findings based on BCC and Government Equalities Office scheme that worked with more than 1,400 female pupils, 38 businesses and 37 schools across England

• Businesspeople paying close attention to debate on UK’s membership of the EU - but say it has had little material impact on business to date
• ‘Remain’ camp ahead two-to-one amongst business voters, but significant divisions exist on size and export lines
• Renegotiated deal for the UK unlikely to change voting intentions of two in three business leaders.

After a year that included a number of wasted opportunities, John Longworth, Director General of the British Chambers of Commerce, calls on ministers to make 2016 a year of action, with the ultimate aim of putting the UK economy on a strong and more sustainable footing.

The British Chambers of Commerce (BCC) has today downgraded its UK GDP growth forecast, from 2.6% to 2.4% in 2015, from 2.7% to 2.5% in 2016, and from 2.7% to 2.5% in 2017.

The British Chambers of Commerce (BCC) has upgraded its UK GDP growth forecast for the next three years, from 2.3% to 2.6% in 2015, 2.6% to 2.7% in 2016, and 2.6% to 2.7% in 2017. The principal driver for the leading business group’s forecast upgrade is stronger than previously expected growth in both the UK’s service sector and consumer spending.

Access to finance is still a barrier to exporting for UK firms, a report by the British Chambers of Commerce (BCC) has found. In its annual International Trade Survey, the BCC found that 60% of potential exporters cite general access to finance as a key factor in their plans to export goods or services.

The Bedfordshire Chamber of Commerce is delighted to announce that the fourth British Chambers of Commerce (BCC) International Trade Conference will take place on 3 November 2015, at the Grand Connaught Rooms, in London

The UK government has taken a number of positive steps to support British business in the first parliamentary session since the election - but there are some areas of serious concern that remain unaddressed, says the British Chambers of Commerce (BCC), one of the UK's largest and most influential business groups.

• The BCC's economic survey for Q2 2015 indicates continued UK economic growth, but highlights sharp differences between manufacturing and services.
• In services, the results remain broadly positive and signal growth.
• But in manufacturing, virtually all the key national balances recorded declines.

Ahead of the Chancellor’s Budget announcement on Wednesday 8 July, the British Chambers of Commerce (BCC) is urging the government to commit to rebuilding Britain’s infrastructure, bringing to an end our ‘make-do and mend’ culture.

The British Chambers of Commerce has downgraded its UK GDP growth forecast for 2015 from 2.7% to 2.3%, following weaker than expected growth at the start of the year. However, the BCC believes the slowdown is temporary and the prospects over the medium term remain steady, with GDP growth predicted to be 2.6% in 2016 and 2017.

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

• Businesses stand firm on staying within the EU, but reforms are essential.
• John Longworth, BCC Director General says “whoever forms the next government must put EU reform at the top of the agenda”. It is vital that the next government sets their intentions to protect the United Kingdom against the prospect of being “in a club, where all the decisions are made by, and for, the Eurozone.”

Businesses who make the leap into international markets are reaping the rewards, according to an international trade survey being published today by the British Chambers of Commerce (BCC).

• BCC’s Quarterly Economic Survey is the first major economic indicator of the year, and is closely watched by the Bank of England and the Treasury.
• Manufacturing and services firms reported somewhat weaker Q1 results in most areas (including exports, domestic markets and investment), but this follows very strong findings in Q4 2014.

This year, the British Chambers of Commerce (BCC) is proud to be hosting its twelfth annual Chamber Awards.

Commenting on Budget 2015, delivered today by Chancellor of the Exchequer George Osborne, John Longworth, Director General of the British Chambers of Commerce (BCC), said:

• 58% of UK exporters believe their profitability will increase in the next 12 months
• The majority of exporting firms (81%) tried to recruit staff at the end of 2014
• John Longworth: ‘British exporters are rising to the challenge despite the uncertain global outlook.’

• The balances for businesses that tried to recruit staff were at an all-time high in Q4
• John Longworth says that businesses are well placed to grow in 2015, but their optimism may not last if ‘political point scoring’ outweighs sound economic policies during the election campaign

Commenting on the Autumn Statement, delivered today by the Chancellor of the Exchequer, John Longworth, Director General of the British Chambers of Commerce (BCC) said:

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.