CHAMBER NEWS
QES results: increased optimism for the future
The Chamber’s Q1 Quarterly Economic Survey (QES) portrays a generally positive picture in respect to business performance, with most key indicators showing slightly improved responses in comparison to previous surveys, latest research has shown. The regular survey asks
businesses a series of questions on key economic indicators. The Q1 survey ran from 19 February to 12 March. In respect to performance in
domestic and overseas markets, sentiment remained remarkably similar to the levels seen in the Q4 2017 survey. Confidence in respect to both
turnover and profitability remained stable in Q1 2018, although a gap between the two persisted. The number of businesses considering investment in new machinery has almost doubled in the first three months of 2018 compared with the latter end of 2017. In the first quarter of this year,
the number of firms reporting plans to increase investment in plant
24 business network May 2018
jumped to net 42%, according to the results of the first Chamber Quarterly Economic Survey of the year. In the final three months of 2017 only net 23% of firms reported plans to increase investment. Chris Hobson, Director of Policy
at the Chamber, said: “Business hates uncertainty and the country has gone through a long period of upheaval with two general elections and the EU referendum in the past three years. “The Brexit vote was followed by
a lot of doubt about the UK’s future relationship with the EU, which remains today the UK’s largest single market for export. “But business is also extremely
robust and has an uncanny knack of sifting through the negativity to seize opportunities, and there can be no doubt that those opportunities exist. Those businesses already exporting, for
ABOUT THE CHAMBER’S QES The Chamber’s QES is the biggest business survey of its kind in the East Midlands. Run in partnership with the School of Business at the University of Leicester, results provided by Chamber members are analysed by the Chamber in order to help shape crucial policy discussions locally, regionally and nationally. Results can also be used by members to gain a competitive edge
through the latest knowledge on how their local markets are faring. The results feed into the British Chambers of Commerce QES, the
largest and most representative independent business survey of its kind in the UK. Engaging in the Chamber’s QES can have a number of benefits to your business and only takes a few minutes to complete.
To input into the next QES and to be a designated contact for completing the survey moving forward, please email the Policy team at
policy@emc-dnl.co.uk.
example, were very quick to ramp up production when the value of sterling fell immediately after the Brexit vote, making UK-branded products cheaper on world markets. “With a period of relative
stability since the General Election last year and with the various assurances that have been emerging from the Brexit negotiations, businesses have shown they are beginning to believe in a future beyond the EU and to invest for that future. “A week after the survey closed,
the Government and the EU announced agreement over a two- year transition period following
‘Businesses have shown they are beginning to believe in a future beyond the EU and to invest for that future’
Brexit day, which effectively now gives firms three years to secure a return on investment in plant, premises and people.” The results of the Chamber’s
Quarterly Economic Surveys feed into national data collated by the British Chambers of Commerce which is then used to advise Government and shape policy. Professor Zoe Radnor, Dean at
the University of Leicester School of Business, which is sponsoring the Chamber’s Quarterly Economic Surveys this year, said: “Our work with the Chamber aims to create a clearer picture of the local economy. Having greater certainty of the future allows confidence to grow and it is encouraging to see that regional businesses are increasingly optimistic about the future and are considering investing in their facilities.
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