BUSINESS NEWS


Unemployment raises concerns


West Midlands business leaders expressed concern following the announcement that unemployment in the West Midlands has risen to 8.2 per cent in the quarter from December to February, up from 8.1 per cent in the previous three months bringing the region’s total number of unemployed to 224,000. Tim Pile, Chamber president,


said: “This is disappointing news when previous figures have shown a downward trend. The Midlands remains third only to the North East and the Humber in the unemployment league. “The West Midlands has been


disproportionately affected by unemployment during the recession but we have begun to see a return to stronger regional growth, with members telling us they will be taking on more staff. Although what is hindering companies is the high skills deficit. “The Chamber is actively


working on a skills campaign which will forge stronger links between business and schools. “Through working together with all the local further education colleges, the Chamber has formed a Further Education Consortium to ensure that students are engaged at a younger age.”


Colleges secure £7m for courses


Bournville College has been granted £7m of European funding to invest into a scheme which will offer free training courses to local workers, in order to help develop their skills. The cash has come from the


European Union European Social Fund and will be used to fund training courses that will meet the requirements of local industry. The funding will allow businesses access to courses that would normally be chargeable, at no cost. Bournville, which led the application for the funding on behalf of nine other local colleges, aims to train 10,000 individuals through the scheme. Bournville principal Norman


Cave said: “This funding will support our continued commitment to develop skills within our community and the future of our local industry sectors.”


10 CHAMBERLINK MAY 2014


Confidence soars as firms emerge from recession


onfidence that profitability and turnover will increase in the next 12 months across all sectors of businesses in Greater Birmingham is soaring. The first quarterly economic survey for 2014 by Greater Birmingham Chambers of Commerce (GBCC) shows that both the manufacturing and service sectors expect their performance to reach pre- recession levels. Statistics also showed that domestic sales had


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increased during the previous three months, and investment plans had improved. But there was a large drop in the number of manufacturers expecting to increase exports. Tim Pile, president of Birmingham Chamber, said:


“It’s fantastic that confidence is returning to business in Greater Birmingham at a phenomenal rate. “These figures indicate that we have already


exceeded pre-recession levels but underline that we have a great deal of work to do to increase exports. “Although the West Midlands is out-performing the


rest of the regions in the UK, the survey shows that there are great overseas opportunities for all businesses. UKTI at Birmingham Chamber has a number of initiatives that can help firms hesitant about accessing overseas markets.” Manufacturers experienced an improvement in


domestic sales, with the number of firms reporting improvements increasing to 51 per cent from 44 per cent in the final quarter of 2013.


‘It’s fantastic that confidence is returning to business in Greater Birmingham’


But the most significant improvement came with firms’ turnover and profitability expectations for the next 12 months. Eighty per cent of manufacturers said they expected turnover to increase, the highest since Q2 2007. Only one per cent of firms felt they would not see an improvement. Sixty-three per cent of manufacturers felt that


profitability would improve over the next year, with only one per cent of firms showing pessimism. Investment plans for machinery and equipment also


experienced a boost, with 40 per cent of manufacturers reporting an improvement, the highest since 2005. Despite improvements in the domestic market, fewer


manufacturers reported increased export sales. The number of manufacturers reporting a boost in exports fell to 32 per cent from 52 per cent in the previous quarter. Sixty-one per cent of manufacturers faced


recruitment difficulties, with skilled manual/technical jobs the most problematic positions to fill. Despite the recent slowdown in the pace of inflation,


41 per cent of manufacturers believed that the price of goods and services would increase. This is the highest number since 2011. There were also marked improvements on the


domestic front for the service sector across Greater Birmingham with 51 per cent reporting improvements in domestic sales, the highest since 2007. Turnover confidence was also high with 74 per cent of service firms expecting an improvement over the next 12 months, compared with 68 per cent in the final quarter of 2013. Sixty-three per cent anticipated a boost in


profitability against 55 per cent in Q4 last year. Service firms also witnessed a slight slowdown in


export sales, with only 34 per cent reporting improvements, down from 45 per cent last quarter.


Kate takes over at Future Faces BY SUE COOKE


Future Faces, the professional body for young people at the beginning of their career life, has appointed Kate Evans to take up its management reins. The two-year-old organisation


was established by the Greater Birmingham Chambers of Commerce to help businesses support staff who are committed to developing their careers. Kate, who has a background in


event management for the prestigious Birmingham Lunar Society and in managing projects for Age UK, said she was looking forward to helping to boost membership by increasing the calendar of events which include networking and training.


She said she would also like to


increase partnerships with colleges and universities across the Greater Birmingham area. Kate, who lives in Stirchley in Birmingham, says she enjoys running and is taking a leap of faith by climbing Ben Nevis in August this year, to raise funds for the Alzheimer’s Society. She says she is looking forward


to working with the ten-strong Future Faces committee and its chairman Michael Mitchell, strategic analyst for the Gambling Commission. Kate said: “I believe it is


Face of the future: Kate Evans


essential for young professionals to network and socialise in the business world in order to gain confidence and exposure and of course, to have fun.”


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