Business News Business News Latest news from Greater Birmingham Chambers of Commerce
Region’s resilience outlined in report
Quarterly survey reveals upturn
in domestic sales An upturn in domestic activity is credited for helping businesses across the region achieving their highest level of demand at home for nine months. According to the Chamber’s latest
business report - for the third quarter of the year - 51 per cent of all businesses recorded an upturn in sales, a six per cent increase on the Q2. The service sector did
Current investment in infrastructure and technology will underpin future economic success in Birmingham, a major report published has revealed. The report is the second annual Birmingham
Looking to the future (from left): Tim Pile, Simon Collinson, Dawn Baxendale, Louise Stignant and Saqib Bhatti The region still lags behind the rest of the
country in terms of jobs, with Birmingham’s employment rate put at 63.6 per cent in 2017, compared to the national rate of 74.9 per cent. GBCC chief executive Paul Faulkner said: “The
Economic Review 2018, produced by Greater Birmingham Chambers of Commerce (GBCC) and University of Birmingham’s City-Region Economic Development Institute (REDI), which aims to accelerate economic growth in the West Midlands. The report identifies how new and hi-tech
industries are increasingly contributing to the region’s economy. The report estimates that the city’s digital sector has contributed £1.4bn to the economy in 2017, and created 36,802 jobs. On the downside, the report again highlighted
the region’s skills shortage as a key issue, with city residents less likely to have high-level qualifications – and more likely to have few or no qualifications – compared to the national average.
Birmingham Economic Review continues to be one of our stand-out publications, fuelled by the expert analysis of the University of Birmingham’s City- REDI. There is no doubt that there are challenges ahead for the region, however the Birmingham Economic Review provides much optimism and demonstrates the region’s resilience.” The report was launched at an event at
University of Birmingham’s new Edgbaston Park Hotel and Conference Centre, which featured a number of top panellists, including: Louise Stigant, UK managing director, Mondelez International; report contributor and director of City-REDI Professor Simon Collinson; Dawn Baxendale, chief executive of Birmingham City Council; and GBCC president Saqib Bhatti.
slightly better than manufacturing throughout the period, and while UK sales for both held up, export demand fell to its lowest level since the EU referendum. Paul Faulkner (pictured), chief executive
of the GBCC, said: “While it was pleasing to see an upturn in levels of domestic demand and recruitment of staff, this positive momentum was offset by a noticeable fall in levels of international business, an increase in cost pressures and softening business confidence. “Anxieties around rising business rates
and problems in accessing skilled talent still persist as the spectre of Brexit continues to dominate an increasingly complex landscape. “As a body that represents over 3,000
businesses in Greater Birmingham, we will continue to work with our members to guide them through what is likely to be a period of political and economic uncertainty as we head towards our formal withdrawal from the European Union.”
November 2018 CHAMBERLINK5
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