Events

Clarity is key to boost business confidence Businesses need certainty to stand a chance of bouncing back from the COVID-19 crisis and successfully navigating their way through Brexit.

The two topics dominated the economic panel discussion at the Coventry and Warwickshire Chamber of Commerce’s 20th Annual Economic Conference, which took place online.

The panel was chaired by Hannah Essex, co-executive director of the British Chambers of Commerce, with Angela Joyce, CEO of WCG; Steve Harcourt of Prime Accountants Group; Paula Deas, deputy CEO of the CWLEP; and Andrew Carter, chief executive of the Centre for Cities.

Hannah Essex said: “The message to government is: tell us your plan. Set out some medium and long-term objectives, and give us the confidence and stimulus we need to help get the economy back on track.

“These are really difficult times for business; even before COVID-19 it had been a few years of rolling cliff edges because of Brexit.

“We’ve got a bit of a cushion up until the end of April with the Job Retention Scheme being extended, but it won’t be long before we really need to know what comes beyond that for businesses so they can start planning for the future. Despite this scheme, many of them are being impacted now.”

Paula Deas told delegates the LEP had drawn up a “strategic re-set framework” to drive the region back onto its original course of being a highly attractive place to live, study, work and invest.

She said: “It’s a simple vision that’s enshrined by seven principles, all of which are characterised by our new chairman Nick Abell’s desire for what he sees as a fundamental re-set of the economy. His message is this: let’s try to capitalise on the fact that we can think about the future in a unique and different way. Every business should look at themselves as a new business.”

Business leaders call for cash to begin recovery

Louise Bennett addresses businesses from a studio at the Chamber’s Annual Economic Conference

Business leaders in Coventry and Warwickshire are calling for a fund to bridge the gap between the COVID-19 crisis and a potential economic recovery.

The call came at Coventry and Warwickshire Chamber of Commerce’s 20th Annual Economic Conference, which was held online due to the ongoing coronavirus crisis, with

If anyone can, Coventry and Warwickshire can – that was the message during a recovery and resilience panel during the Chamber’s online Annual Economic Conference.

Coventry and Warwickshire Chamber chief executive, Louise Bennett, hosted the session which included Martin Sutherland, chief executive of the Coventry City of Culture Trust; Leigh Hunt, CityFibre’s city manager Coventry; Martin Reeves, chief executive of Coventry City Council; and Monica Fogarty, chief executive of Warwickshire County Council.

The panel explored where Coventry and Warwickshire had been economically prior to the COVID-19 pandemic and what the region could do to bounce back quickly.

Martin Reeves said: “The timing of recovery will vary from sector to sector but we’ve got to find a way of supporting businesses to invest. Our response to this now will determine whether we can recover quicker. more than 250 delegates attending via video link.

The event, sponsored by CityFibre, Prime Accountants Group, Kumari Hart and WCG, heard from a range of speakers from across business and politics at a local, regional and national level.

Chamber chief executive Louise Bennett said it was vital to look to

“It will also determine our economic future. Nobody is denying that it is going to be a tough road ahead, but if anyone can, Coventry and Warwickshire can.”

Monica Fogarty said the region-wide response during the pandemic would stand Coventry and Warwickshire in good stead during the recovery period.

She said: “Once again, Coventry and Warwickshire has come together and there is no doubt that our partnership has made our response to COVID-19 stronger. the future and give businesses the tools to build an economic recovery.

She said: “The Chamber is calling for a fund that can bridge the gap for viable businesses between now and their recharged future because it is critical that, as businesses, we look to the future while learning from the challenges we have faced.

“To help us plan, we need thoughtleadership by our government – indeed, all political parties – around how we stimulate business and consumer confidence to generate spend and investment in our economy.”

Conference delegates also heard from The Rt. Hon. Kwasi Kwarteng MP, the minister for business, energy and clean growth at the Department for Business, Energy and Industrial Strategy (BEIS); West Midlands mayor Andy Street; and Nadhim Zahawi, MP for Stratford-on-Avon.

Nadhim Zahawi said: “We must look to the future and determine how we want to shape our recovery after this pandemic. There is broad acceptance that any resilient recovery must be led by businesses and, of course, the private sector. Any economy driven excessively by government spending is simply not

Resilience can underpin economic recovery

sustainable in the long term.”

“We know that this region was one of the fastest-growing economies prior to the pandemic and it could, ultimately, have a transformational effect on the way we move forward when it comes to transport, lowcarbon, skills and productivity.”

Martin Sutherland said that the region was fortunate to have the UK City of Culture title as a catalyst for economic recovery.

He said: “We are the only city to hold this title during this period and it could have a galvanising effect on our economy and on our communities.”

“We know that this region was one of the fastestgrowing economies prior to the pandemic and it could, ultimately, have a transformational effect on the way we move forward when it comes to transport, low-carbon, skills and productivity.”