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

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.

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. 

• 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

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

• Retail sales volumes fell 0.7% in October 2013, and were flat in the last three months
• Over the past year retail sales increased by 1.8%
• Annual inflation of goods sold in the retail industry was 0.7% in October, well below total CPI inflation

Commenting on the report published by the National Audit office today, Infrastructure investment: the impact on consumer bills, Adam Marshall, Director of Policy at the British Chambers of Commerce (BCC), said:

What's it like being an SME in Bedfordshire?  Make your voice heard by taking part in the Quarterly Economic Survey (QES).  The QES is is a highly respected survey of conditions for small and medium sized businesses.   Carried out every quarter by local Chambers on behalf of the British Chambers of Commerce, the survey is consulted by The Treasury and other central government departments.

• In the three months to September 2013, the unemployment rate was 7.6%
• In the three months to September 2013, unemployment fell by 48,000 and employment increased by 177,000
• Youth unemployment (16-24) fell 9,000 in the three months to September, but was still high at 965,000, and the jobless rate was 21%
• The claimant count fell 41,700 between September and October 2013

To mark the start of Export Week, the British Chambers of Commerce (BCC) has announced the launch of a new website designed to support businesses at every stage of their export journey. 

Today (Monday) marks the start of national Export Week, designed to celebrate the exporting successes achieved by UK firms, and to encourage more businesses to take their first step towards ‘going global’. Chambers of Commerce are the largest private sector providers of international trade services in the UK, and are committed to helping businesses find new markets and trade the world. 

Commenting on today’s interest rate decision, announced by the Bank of England’s Monetary Policy Committee, David Kern, Chief Economist at the British Chambers of Commerce (BCC) said:

• Manufacturing output rose 1.2% between August and September 2013, while total production increased by 0.9%
• In the three months to September 2013, manufacturing output rose 0.9% over the previous three months, but when compared with a year earlier, there was only a minimal increase (0.1%)

• In September 2013, public sector net borrowing, excluding effects of financial interventions, was £1bn lower than in September 2012
• In the first six months of the current financial year, cumulative borrowing on a comparable basis was £5.9bn lower than in the corresponding period of the last financial year
• In September 2013, public sector net debt, excluding effects of financial interventions, was 75.9% of GDP

Commenting on the announcement that a new nuclear power plant will be built at Hinkley Point in Somerset, John Longworth, Director General of the British Chambers of Commerce (BCC) said:

• BCC’s Director General, John Longworth, gives keynote speech at business group’s International Trade Conference
• Vince Cable; Chuka Umunna; Carolyn McCall, CEO, easyJet; David Milner, CEO Tyrrells Crisps; and Lord Bilamoria, Chairman, Cobra Beer confirmed as guest speakers

Commenting on the publication of the report, ‘Cut EU red tape’, which has been published by the Business Taskforce today (Tuesday), Dr Adam Marshall, Director of Policy and External Affairs at the British Chambers of Commerce (BCC), said:

The British Chambers of Commerce (BCC) and NEST (National Employment Savings Trust) have created a business guide to auto-enrolment, designed to help employers plan for legal changes to workplace pensions. 

Commenting on the Chancellor's announcement to simply and streamline visa applications, Dr Adam Marshall, Director of Policy at the British Chambers of Commerce (BCC), said:

• Manufacturing output in August 2013 was -1.2% on the month, -0.2% on the year
• In the three months to August 2013, manufacturing output rose by 1.2% compared with the previous three months
• The UK deficit on trade in goods and services was £3.3bn in August, compared with a deficit of £3.4bn in July
• There was a deficit of £9.6bn on goods, partly offset by an surplus of £6.3bn on services

Commenting on Prime Minister David Cameron's speech at the Conservative Party Conference in Manchester, John Longworth, Director General of the British Chambers of Commerce (BCC), said:

Commenting on the speech made by the Chancellor of the Exchequer at the Conservative Party Conference today (Monday), John Longworth, Director General of the British Chambers of Commerce (BCC), said:

• Total business lending (loans and overdrafts) fell by £3.8bn in August 2013, the largest fall since December 2012
• SME lending fell by £0.7bn in August 2013

The BCC's International Trade Conference, on the 17th October 2013 at Central Westminster Hall, London, will bring together 500 high growth exporters, SMEs, business leaders and leading policy makers.  This unique event will provide an opportunity to hear from experienced exporters as they share their expertise on how to build a successful global brand, enter new market and access finance along with other topical themes surrounding the export agenda.

Commenting on the  speech by the Labour Party leader, the Rt Hon Ed Miliband MP, John Longworth, Director General of the British Chambers of Commerce (BCC) said:

Commenting ahead of the speech by the leader of the Opposition, Ed Miliband, John Longworth, Director General at the British Chambers of Commerce (BCC), said:

• Retail sales volumes for August 2013: down 0.9% on the month; up 2.1% on the year
• The August fall comes after a strong increase in July, and the trend in sales remains clearly upward, with an increase of 1.7% in the three months to August, compared with the previous three months
• Annual inflation in the retail sector slowed from 1.8% in July 2013 to 1.6% in August 2013