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

There are some encouraging signs in the latest Quarterly Economic Survey (QES), with business confidence beginning to improve. However, for many businesses, rising costs and ongoing uncertainty are still making it difficult to plan and invest for the future.

The QES is the UK's largest independent survey of business sentiment, giving businesses a voice on the issues affecting them and helping inform decisions made by Government, the Bank of England and policymakers.

Every business wants to grow. The challenge is knowing when to invest, how to adapt and how to move forward when the economic picture feels uncertain. That is why the Quarterly Economic Survey (QES) matters.

Now in its 38th year, the QES is the UK’s largest independent survey of business sentiment. It gives businesses across the country the chance to share what they are experiencing and helps ensure those views are heard by Government, the Bank of England and policymakers.

Place-based growth meets a fragile economy 

Andy Burnham’s recent speech in Manchester set out an ambitious economic vision of “good growth in every postcode”. He outlined a major rebalancing of power away from Whitehall, with a renewed focus on housing, transport, skills, infrastructure and industrial renewal. 

For the UK Chamber of Commerce Network, much of this will feel familiar. Chambers have long argued that economic policy works best when it is shaped close to the businesses and communities it is designed to serve.  

The proportion of firms planning to increase investment has fallen to its lowest level since the pandemic, according to the latest British Chambers of Commerce (BCC) Quarterly Economic Survey. The UK’s largest independent business sentiment survey also shows confidence weakened in Q2, with fewer firms increasing sales and inflation re-emerging as the leading concern.

The latest Quarterly Economic Survey (QES) – the UK’s largest snapshot of business sentiment ahead of next month’s Budget – paints a challenging picture of the national economy. Confidence remains flat, investment is subdued, and many firms are still feeling the strain of prolonged cost pressures and policy uncertainty.

But while the national mood may be muted, here in Bedfordshire the story is one of quiet determination, adaptability, and local strength.

The latest Quarterly Economic Survey from the British Chambers of Commerce paints a fairly cautious national picture. Rising costs, including the recent hike in National Insurance, are squeezing businesses across the UK. Many are putting plans on hold, recruitment continues to be a challenge, and overall confidence is understandably low.

But here in Bedfordshire, there’s a different energy.

There’s no denying it - the political and economic uncertainty of the past few years has contributed to challenging conditions for businesses, as multiple crises have converged.

One of the most important ways we bring these challenges to the attention of the policymakers in Government is through the Quarterly Economic Survey (QES).

•    After significant declines across all business conditions tracked by the BCC in Q3, most indicators have stabilised at a low level. 
•    Profitability confidence remains at Covid-crisis levels; only one in three (34%) businesses believe their profits will increase over the coming year, while more (36%) expect a decline.   
•    Just 33% of firms experienced an increase in sales over the past three months, while 25% of firms reported a decrease, with hospitality firms the least likely to report improvements.  
•    More firms are reporting taxation (38%) and interest rates (43%) as growing business concerns.  

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.

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

The British Chambers of Commerce’s Quarterly Economic Survey – now in its thirtieth year as the largest UK private sector survey of business sentiment and a leading indicator of UK GDP growth

The British Chambers of Commerce’s Quarterly Economic Survey – the largest private sector survey of business sentiment and a leading indicator of UK GDP growth, closely watched by policymakers including the Bank of England – finds that underlying economic conditions remained stagnant in the second quarter of 2019.

The British Chambers of Commerce’s quarterly economic survey – the UK’s largest private sector survey of business sentiment and a leading indicator of UK GDP growth

Commenting on the inflation statistics for March 2018, published today by the Office for National Statistics, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:

“Inflation slowed again in March, confirming its downward trajectory. 

Commenting on the labour market figures for January 2018, published today by the ONS, 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) today publishes its Quarterly Economic Survey – the UK’s largest and most authoritative private-sector business survey.

The British Chambers of Commerce (BCC) has published its Quarterly Economic Survey – the UK’s largest and most authoritative private-sector business survey. Based on the responses of over 7,700 businesses in Q2 2017, the results for both sectors indicate that the UK economy grew at a subdued rate in the second quarter of 2017.

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

As the British Chambers of Commerce (BCC) publishes statistics that show two-in-five businesses are more concerned about business rates than three months ago, the business group renews its call for action in the Spring Budget this week to ease the burden of rates and bring about fundamental reform to the system.

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

• 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.

• 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.

• 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

• 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.

• 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

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

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.

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