Business News Business News Latest news from Greater Birmingham Chambers of Commerce
Exporters enjoy a ‘sensational summer’
Exporters in Greater Birmingham have enjoyed a “sensational summer” according to a new economic survey. The latest Quarterly Economic Report of
Greater Birmingham Chambers of Commerce (GBCC) reveals that regional businesses, particularly in manufacturing, have shaken off any Brexit blues to launch a concerted campaign to win business abroad. A total of 49 per cent of manufacturing firms
experienced increased overseas sales – a two-year high since the 50 per cent recorded in Q3 2015. Service sector firms also pitched in with 32
per cent reporting a sales increase – the highest figures since the final quarter last year. Like manufacturing, there was also good news, with orders also increasing. Paul Faulkner, chief executive of the GBCC,
said: “This is a tremendous performance by our exporters. They have showed remarkable resilience to battle against many obstacles, including fluctuations in exchange rates. “This amounts to a sensational summer for
Greater Birmingham’s exporters and the Chamber’s International Hub has played its part by giving businesses invaluable guidance on how to secure overseas sales.” Both manufacturing and service sectors
maintained modest increases in home sales, although orders dipped slightly for manufacturers’ advance orders. Confidence also remained high across all
sectors. Sixty-five per cent of manufacturers expected to increase turnover in the next 12 months while 51 per cent predicted an increase in profits. In the service sector confidence was even higher. Seventy per sent were confident they would improve turnover and 59 per cent thought profitability would increase.
Paul Faulkner: exporters put in remarkable performance
Hiring dropped off in the manufacturing
sector with 25 per cent reporting an increase in their workforce, down from 32 per cent recorded in Q2. This was offset by a greater percentage of service firms adding to their workforce over the last three months with 31 per cent reporting an increase opposed to 29 per cent in Q2. Seventy-seven per cent of manufacturers said
they had faced recruitment difficulties. However, a lower number of service firms reported recruitment difficulties compared to the last quarter with 59 per cent this quarter against 68 per cent last quarter. Thirty-two per cent of service firms expected
the price of their goods and services to go up, compared to 31 per cent last quarter. Competition was the biggest concern among
service firms whereas the primary worry among manufacturers was around exchange rates.
The Q3 Chamber QBR launch event takes place at Birmingham City University Curzon Street building on 7 November (7.30-8). To reserve your place go to:
www.greaterbirminghamchamber.com or call senior policy adviser Raj Kandola on 0121 607 1814.
In Brief
Greater Birmingham Chambers of Commerce (GBCC) and the University of Birmingham have joined forces to produce a comprehensive economic review of the region. The second annual Birmingham Economic
Review will be published jointly this year by the GBCC and the university’s City-Region Economic Development Institute (City-REDI). The 2017 review will be valuable to
businesses and stakeholders in the region, says Paul Faulkner, the GBCC chief executive. He added: “In the light of Brexit and the
development of the Industrial Strategy, it has never been more important for us to fully understand our city-region’s economy. This is also true of individual businesses looking to make decisions about investment and location. “This report, powered by the world-class
research of the City-REDI team, will provide a valuable resource to decision makers in business and political and policy spheres alike.” City-REDI is a research institute which
delivers policy, strategy and research that supports economic growth and prosperity. The Birmingham Economic Review for 2017
will be launched at an event at the University of Birmingham on the 25 October ( 8am-10am.)
To register visit:
www.greaterbirminghamchambers.com
Birmingham’s business leaders have pledged to continue a strong relationship with Birmingham City Council following John Clancy’s resignation. When the Labour leader announced his
decision, Greater Birmingham Chambers of Commerce (GBCC) said he had been extremely supportive and active with the Chamber. GBCC chief executive Paul Faulkner said:
“John knew the importance of a rapport with the business community and he visited the Chamber on his first day as leader. “There is a strong and enduring relationship
between the Council and the Chamber and we look forward to building on that with John's successor as leader.”
October 2017 CHAMBERLINK5
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