Business News
Investing in the city’s future
Significant investments for Birmingham that will have a huge impact on the city have been announced. Almost £1 billion of investment is
being committed to redevelop a part of Birmingham that is set to be transformed by the arrival of HS2 in the city, while Jaguar Land Rover is to invest £100 million in its Castle Bromwich plant. The Curzon Investment Plan is an ambitious 30-year strategy to unlock and regenerate the 141 hectares of land around the planned HS2 Curzon Street Station, led by the Greater Birmingham & Solihull LEP and Birmingham City Council. It has the potential to add £1.4 billion to the local economy. Councillor John Clancy, leader of Birmingham City Council said: “It is an unprecedented time for Birmingham and the wider region. “By working with partners from
across the region, we have fuelled an economic renaissance with significant inward investment and the implementation of major infrastructure schemes.” Jaguar Land Rover’s investment
in its Castle Bromwich signals the return of all Jaguar sports and saloon car manufacturing to the Birmingham plant.
Q3 business report reveals staff shortages
By John Lamb
Over half of firms in Birmingham are attempting to recruit new staff but the majority of them are experiencing difficulty finding the right people. This statistic from Greater Birmingham Chambers of
Commerce (GBCC) comes just after reports that the number of people claiming benefits in the region was just over 30,000 (6.4 per cent), compared with 83,000 (3 per cent) for the West Midlands. The GBCC’s Quarterly Business Report, sponsored by Birmingham City University, for Q3 shows that 55 per cent of companies from all sectors were attempting to recruit and 60 per cent of them were struggling to fill the vacancies. Paul Faulkner, chief executive of the GBCC, said: “It
does seem ironic that when we have unemployment figures higher than the national and region averages, many firms are struggling to find the right staff. “Much of the problem does stem from the shortage
of people with the right skills so that is why we are working continually with businesses and colleges in an attempt to ensure that the education system is giving people the skills to make industry and commerce tick.” Other figures in the report showed that the
manufacturing sector was fighting hard to increase sales. The sector struggled slightly on domestic sales, with the number reporting increased sales fell from 42 per cent in Q2 to 34 per cent in Q3. However, manufacturers recording increased orders
rose to 44 per cent from 33 per cent and the export market continued the same trend. Thirty-one per cent said overseas sales had increased compared with 29 per cent in Q2 and orders also improved to 38 per cent compared with 32 per cent. The service sector reported lower figures across
sales and orders but were expecting a more encouraging picture when seasonal variations were taken into account. Investment plans for equipment across all sectors
remained low, with those expecting to increase their buying dipping to 16 per cent compared with 24 per cent in Q2. However, business confidence generally remained
buoyant with 61 per cent saying they expected to improve turnover in the next year. The picture was similar with those firms expecting to
increase profitability. Fifty-four per cent anticipated an increase over the next 12 months. Mr Faulkner added: “It’s encouraging that the region
is feeling optimistic in the light of Brexit. With past sales down and orders increasing it indicates that we are over the post-referendum dip. This is also reflected in business confidence holding up.” Leading business figures will debate the Chamber
Business Report at a breakfast event at Birmingham City University on 11 October. Speakers will include Paul Kehoe, who becomes Chamber president on 5 October, and Henrietta Brealey, director of policy and strategic relationships. The event is free.
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Digital Workplace - How good is yours?
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orders and supply chain,e.g. CRM or enterprise management systems - ERP.
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8 CHAMBERLINK October 2016
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