ECONOMIC SURVEY


Contributing to the economic big picture


Quarter by quarter, Devon Chamber of Commerce surveys its Members, the members of affiliate and partner chambers and any other businesses who register to take part. The survey captures businesses’ views on the state of


trading and how this may change in the future. This provides a ‘snapshot’ of what is happening economically in the county. The findings of the survey are combined with surveys undertaken by the other 51 Accredited Chambers covering the whole of the UK and consolidated by the British Chambers of Commerce to provide a national picture. This is used by Government and other policy and makers and commented on by the media extensively. The British Chambers of Commerce Quarterly


Economic Survey is the most authoritative business survey in the country as it embraces all corners of the country, every sector and all sizes of companies. Devon Chamber of Commerce aims to ensure that the national survey has a big ‘Devon’ set of evidence blended into it. Providing real evidence of what is happening in the


local economy is really important for the Chamber in seeking to influence policy makers, authorities locally


18 Chamber Profile November/December 2017


and nationally. We would like to thank all members, all affiliate/partner Chambers and others who have taken time to complete the survey. The strength of the Devon economy shines through


the findings, however there is also evidence of the challenges facing many companies. In particular companies are facing increasing inflationary pressures and because it is difficult to raise prices; there is a squeeze on profitability. Labour recruitment remains a severe challenge for many companies and the survey shows this could be made much worse if Brexit places severe controls on the recruitment of European Labour. It is clear that there is not an inexhaustible supply of


skilled labour and the strength of the European economy means there are many opportunities in their home county for such labour. This is further squeezing supply. The Chamber will continue to monitor this. As we all look out for good strong trading until


Christmas, the Chamber will continue to keep a wary eye out for Brexit negotiations, potential changes in interest rates and any evidence of wage inflation, to name three.


‘The strength of the Devon


economy shines through the findings’


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