Business News Business News Latest news from Greater Birmingham Chambers of Commerce Learn from others: Henrietta Brealey Prices set to rise
as Brexit bites Over a third of firms across the West Midlands expect to raise their prices in the next three months. But there also signs of “resolve and
resilience” over Brexit uncertainty according to the second West Midlands Quarterly Economic Snapshot of 2019. The snapshot is compiled from quarterly
surveys conducted by Greater Birmingham, Black Country and Coventry & Warwickshire Chambers of Commerce. Business resilience figures showed that
Tackling the challenges that come with change
A new campaign designed to challenge and inform employers about approaches to managing risk and being agile and responsive to change has been launched by Greater Birmingham Chambers of Commerce (GBCC). The Business Adaptability and Resilience campaign – titled Raise the BAR – will be delivered throughout September and will focus on sharing best practice among Chamber members. The Chamber is calling on businesses to get
involved by providing expert advice or case studies for promotion during the campaign. There are also a limited number of sponsorship
opportunities available. For more details contact
h.brealey@
birmingham-chamber.com The campaign was proposed by the GBCC’s Chamber Council – a group of members who have been elected to inform policy and
campaigning priorities. Henrietta Brealey, GBCC director of policy and
strategic relationships, said: “Uncertainty – it’s one of the few constants currently facing local businesses. From Brexit to global economic forces to the impact of disruptive technologies and beyond; headwinds (and opportunities) abound. With the Raise the BAR campaign we want to help local businesses learn from each others’ experiences on managing risk and uncertainty. “It is also a great opportunity for
organisations to grow brand awareness and showcase themselves as best practice exemplars or leading experts in the field. “I would very much encourage Chamber members reading this to consider taking part.”
Find out more via the GBCC website or the social media #RTB19
34 per cent of service firms expected prices of their goods and services to increase over the next three months compared to 30 per cent of manufacturers. And 21 per cent of manufacturers of
manufacturers expect their cash flow levels to fall against 19 per cent in the service sector. The GBCC area (38 per cent) was hardest hit followed by C&WCC (18 per cent) and BCCC (eight per cent). Paul Faulkner, chief executive of the
GBCC, said: “Any Brexit-related announcement seems to have a direct impact on the value of sterling, which in turn exacerbates inflationary pressures, particularly for those manufacturers importing raw materials. “Clearly the fallout from Brexit is a key
factor in these developments. However, we shouldn’t lose sight of the fact that these trends are reflective of longer term structural deficiencies in our local economy.” Export trends revealed that
manufacturers across the West Midlands reported an increase in their overseas sales compared to 24 per cent of service firms. But just under a quarter (23 per cent)
expected international output to go up over the next three months.
September 2019 CHAMBERLINK5
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