BUSINESS REPORT


BUSINESS REPORT


Unsurprisingly, there is no good news in the latest Quarterly Economic Survey (QES). QES Q2 fieldwork was carried out between


the 18 May 2020 to 8 June 2020, and covered the period when the UK was in full lockdown owing to the Covid-19 pandemic. An important piece of work in normal times, it


has become vital in assessing the impact of this unprecedented situation. By every measurable metric, businesses in Northamptonshire are suffering, not unexpectedly, from the onset of Covid-19. The business environment is clearly one of the


most difficult in living memory; however, the results of this survey are hugely important both in comparison with previous quarters and as the entire country looks forward to any future economic recovery. As the true scale of the coronavirus began to


take shape, the Northamptonshire Chamber set up a dedicated hotline which over the last few months has answered hundreds of questions from members, while collating information on the problems and challenges being faced. At the time of going to print the hotline


remains open, and can be contacted on 01604 490 414. Issues raised by members have been passed up to the Policy team at the British Chambers of Commerce, who have used it to lobby the Government for, and get changes and improvements to, their support mechanisms. Data from Northamptonshire QES is used by the


NORTHAMPTONSHIRE CHAMBER keeps its members up to date with all the latest business news. Whether it’s through the pages of this magazine, via our website or by regular email updates, we will always endeavour to keep you in the picture and informed


QES REMAINS A VITAL TOOL DURING DIFFICULT TIMES


DOMESTIC DEMAND This quarter saw a substantial decrease in both domestic sales and orders.


OVERSEAS SALES AND ORDERS Overseas sales and overseas orders both fell significantly.


EMPLOYMENT Businesses reported little growth in employment with a sizeable number reporting falls in workforce numbers.


BUSINESS CONFIDENCE AND INVESTMENT Business confidence plunged to previously unseen lows.


Treasury, the Department for Business, Energy and Industrial Strategy and the Bank of England. Being a Chamber member means that your voice can be heard at the very heart of Government.


Although it’s impossible to predict the future


and everyone must remain vigilant against the possibility of a second wave of the coronavirus, at the time of going to print, the very beginnings of measures easing the lockdown are coming into place. In the coming weeks firms will hopefully be able to turn their minds from just surviving towards stabilising and finally growing again. Now more than ever the Northamptonshire


Chamber will champion and represent the voice of local business, and support every member to rise to the challenges posed by coronavirus. The next QES will be open 24 August – 14


September, and will be vital in continuing to assess not only the impact of the pandemic, but the success of recovery efforts to date. The staff at the Chamber wishes everyone the very best in their health and personal wellbeing.


AUGUST/SEPTEMBER 2020 inbusiness 5


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