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

With so many major new projects planned in Bedfordshire, there’s a strong sense in the county and its businesses of a new future on our doorstep.

It’s a groundswell of transformation that will bring with it wealth, job creation, strengthened infrastructure, greater connectivity, extensive new business opportunities for the regional supply chain, and – not least - the reinvigoration of communities and places.

Autumn is upon us and for many small and medium enterprises (SMEs) in the UK, this time of year is turning out to be distinctly growth-focused – more spring than autumn, you might say!

In fact, according to recent research from business finance provider Novuna, 7 in 10 UK small firms are making growth plans, and in some sectors growth planning in the SME space has hit a three-year high.

As a business owner, you know that your people are the heart of your company. They are your most valuable asset, and so it would follow that investing in your staff is a steadfast way to grow your business.

Winning new business is essential for growth, and in the early days as a small business, gaining just a handful more new customers can make a big difference.

HSBC UK has launched a £250m lending fund to support small and medium-sized enterprises (SMEs) in Bedfordshire, Northamptonshire and Milton Keynes, as part of its commitment to help businesses realise their ambitions for growthand navigate Brexit.

Mary Vincent of Willow Tree Gin is a solo female entrepreneur with a passion for food and drink.

Her love of creating new recipes and experimenting with herbs was the guiding force behind her business venture.

The British Chambers of Commerce (BCC) has today slightly downgraded its medium-term outlook for the UK economy over the next few years. While the BCC has slightly upgraded its UK growth forecast for 2017 from 1.5% to 1.6%, its growth expectations for 2018 and 2019 have been cut from 1.3% to 1.2%, and 1.5% to 1.4% respectively.

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.

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.

A £50,000 Velocity grant has prompted a £1million investment in pioneering new technologies, propelling a Bedford electronics firm to the forefront of its industry.

• 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.

• 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 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)

BCC Economic Forecast: GDP to surpass pre-recession peak in second half of 2014

• 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:

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.

• 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

Lord Young is leading a review into barriers holding back SME growth. The key areas the review will focus on are HR, finance, new markets, business planning, and subsequent issues around these that affect businesses as they grow.

The BCC will be responding to the call for evidence and we are keen to hear views from members on two issues in particular: