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

• 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

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

• The UK deficit on trade in goods and services was £3.3bn in September 2013, unchanged from August
• There was a £9.8bn deficit on goods, partly offset by a £6.5bn surplus on services
• The trade deficit in goods and services increased markedly in Q3 2013, largely reflecting a wider goods deficit (down £4.3bn - £3.8bn goods)

• 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

• 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

• 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:

As the Conservative Party Conference gets underway in Manchester, the British Chambers of Commerce (BCC) is today (Monday) issuing a clear message to the Prime Minister and his colleagues to ‘get moving’ on the delivery of pro-growth policies that will benefit the nation as a whole.

As the UK’s international hub airport, Heathrow connects businesses across the country to crucial growth markets.   For 16 years, Heathrow Business Summit (formerly Heathrow Meet the Buyer) Heathrow has been enabling business to be done through annual business summits. To date, it has helped businesses win around £90 million in new business. 

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:

• 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

• In the three months to July 2013, unemployment fell 24,000, and employment rose 80,000, compared with the previous quarter
• In the three months to July 2013, the unemployment rate was 7.7%, down slightly from 7.8%
• Youth unemployment (16-24 year olds) rose 9,000 to 960,000, and the unemployment rate in this age group was 21%
• Between March and June 2013, public sector employment fell 34,000, and private sector employment rose 114,000

A new crackdown on tax evasion will make information on all credit and debit card payments to UK businesses available to HM Revenue and Customs (HMRC) for the first time.

Ever felt like telling the government what it’s really like being in business in 2015?

A survey of more than 4,500 businesses released today  by the British Chambers of Commerce (BCC) shows that the number of exporting firms continues to increase. The survey also shows that those who ‘think global’, either because they have previously worked abroad or they collaborate with international partners in business, are far more likely to export than those with little international experience.

Manufacturing output in May 2013: -0.8% on the month, -2.9% on the year
Total industrial production is 0.0% on the month, -2.3% on the year

Commenting on today’s Monetary Policy Committee (MPC) interest rate decision, the first under the new Governor Mark Carney, David Kern, Chief Economist at the British Chambers of Commerce (BCC) said:

• BCC’s Quarterly Economic Survey for Q2 2013 shows further progress, with most key balances stronger than in Q1 2013.
• Service export deliveries balance rose to +36%,  the highest level since the survey began in 1989
• UK business remains resilient, and confidence is rising, despite most balances remaining below their pre-recession levels in 2007

In an open letter to Mark Carney, who takes over as Bank of England Governor today. BCC Director General, John Longworth, urges him to do more to ensure a stable business environment, which will help to secure the UK’s future competitiveness. 

Commenting on the Spending Round for 2015/16, set out by the Chancellor of the Exchequer in the House of Commons today (Wednesday), John Longworth, Director General of the British Chambers of Commerce (BCC), said:

The Local Enterprise Agency SEMLEP is recruiting for two posts:  Business and Economic Analyst and Head of Business Development.

• Public sector borrowing, excluding transfers from the Bank of England QE scheme, was £12.7bn in May 2013, compared with net borrowing of £15.6bn in May 2012
• Public sector net debt was 75.2% of GDP

• Manufacturing output in April 2013: -0.2% on the month, -0.5% year on year
• Total industrial production in April 2013: +0.1% on the month, -0.6% year on year

A new service is being offered to clients of Risk Management Consultancy, THSP, to help them keep up to date with the complex world of Employment Law.  An ‘Employment Safe Newsletter’, published monthly, will focus on changes to Government legislation as well as highlighting possible implications and potential pitfalls of these changes to employers.  

Commenting on the labour market statistics, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC) said:

Commenting on the government’s decisions today on National Minimum Wage rates from 1 October 2013, Dr Adam Marshall, Director of Policy at the British Chambers of Commerce (BCC), said:

• BCC’s Quarterly Economic Survey for Q1 2013 shows progress, with almost all major balances improving compared with Q4 2012. 
• British businesses are resilient, but many balances are still below pre-recession levels and growth remains too low.

• John Longworth: “These results provide a glimpse of the as-yet-distant sunlit uplands of recovery. Businesses up and down the country are working hard to drive the economy, create jobs and export, but they cannot accelerate this process alone.”