POLICY MATTERS


POLICY MATTERS


The UK’s latest flagship Quarterly Economic Survey (QES) makes for sombre reading for businesses. The British Chambers of Commerce (BCC) has


just released the results of its latest survey which questioned thousands of businesses throughout the country about their experience of trading in Q4 of 2020 and their expectations for the first quarter of 2021. The survey revealed that following the


sharpest decline in the history of the QES in Q2 of 2020, all the key indicators in the final quarter of the year remained substantially worse than pre-pandemic levels, with nearly half of firms reporting decreased sales. BCC head of economics Suren Thiru said: “Our


latest results indicate that economic activity was strikingly downbeat in the final quarter of 2020 as the re-introduction of tighter coronavirus restrictions, including a second lockdown, weighed heavily on the key drivers of growth. “The services sector endured a particularly


difficult quarter, with consumer-facing businesses most severely exposed to the


‘ECONOMIC


ACTIVITY WAS STRIKINGLY


DOWNBEAT IN THE FINAL


QUARTER OF 2020’


renewed restrictions. “Though the vaccine


rollout provides real optimism, with the UK facing a sustained period of tougher lockdown restrictions to tackle the new variant of Covid-19, the risk of a double-dip recession in the first quarter of this year is uncomfortably high.” Manufacturers and service firms reported drops in export orders, export sales and


CHRISTOPHER JONES, the Chamber’s Policy Manager represents your views to the people who matter


ECONOMIC SURVEY REVEALS SHARPEST DECLINE IN HISTORY


domestic orders during the final part of 2020. Service firms were most severely hit, having seen their domestic sales fall by nearly a quarter, their export orders drop by 28% and their export sales reduce by more than a fifth. More than 40% of firms surveyed


reported a decrease in their cash flow with only 21% reporting an increase. More than a third of respondents


continued to report decreased investment in plant, machinery and equipment, with only 17% reporting an increase, highlighting longer-term concerns for the economy. Fieldwork for the Quarterly


Economic Survey for Quarter 1 of 2021 is open from now until 8 March. If you


want to contribute visit www.britishchambers. org.uk/page/quarterly-economic-survey-2 Members will also directly receive a link to


complete the survey from the Chamber Communications team.


SILVERSTONE’S SHORTLIST SUCCESS


A car and van leasing firm in Northampton is celebrating after reaching the finals in five regional and national business award categories. Silverstone Fleet Management (pictured) and


the company’s managing director have collectively been shortlisted for three Northamptonshire Business Excellence Awards, a Northamptonshire SME Business Award and a National SME Business Award. The company and MD Scott Norville have


been recognised across a wide range of categories including: • Marketing Campaign of the Year for the #SingForCynthia viral fundraising campaign on LinkedIn, which raised more than £1,400 for the Cynthia Spencer Hospice in Northampton


• Employer of the Year • Businessman of the Year • Service Excellence • Lockdown Leader of the Year. “To be finalists in so many top award


categories is a fantastic endorsement,” said Scott Norville. “Like many businesses, we faced some tough challenges during 2020 but we pulled together as a team and went above and beyond to


support our clients and each other. “To be shortlisted for these awards, during


2020 in particular, is a real boost to myself and the team and recognition that we have made some worthwhile decisions during this tricky time to keep our service levels up and our team happy and safe.” The winners of the Northamptonshire Business Excellence Awards will be announced on


Thursday 25 February 2021. The winners of the SME Northamptonshire Business Awards and the SME National Business Awards will be revealed in May.


For further information about Silverstone Fleet Management, visit www.silverstonefleetmanagement.com or call 0800 612 8901.


FEBRUARY/MARCH 2021 inbusiness 5


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36