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Group Commercial Director set to take up Chief Executive role at Northamptonshire & Milton Keynes Chambers of Commerce
New restart grants ‘extremely welcome’ The Coventry and Warwickshire Chamber of Commerce has welcomed new ‘restart’ grants for the firms hardest hit by Covid-19. It was revealed at the weekend that a further £5bn is being made available to high street firms and the hospitality sector, with grants of up to £18,000 on offer to individual businesses. Louise Bennett, chief executive of the Coventry and Warwickshire Chamber of Commerce, said it was crucial to get the money to businesses as quickly as possible – and that she had every confidence in the local authorities in the region to do that. She said: “Businesses are desperate to get back to being able to trade again but for those that have, essentially, been dormant they are going to need help and these restart grants will be extremely welcome from that point of view. “The key is getting the money to firms that need it as quickly as possible so they can avoid a cashflow cliff edge and, also, prepare themselves to get back to business. “The local authorities in Coventry and Warwickshire have done an amazing job during the Covid-19 crisis in acting quickly and it’s vital that they do that once again to get this cash to those businesses that need it most. “And, while we welcome this help from the Chancellor and acknowledge the unprecedented levels of support that have been offered during the crisis, it’s still crucial that he doesn’t try to recoup that money through increased business tax in this week’s Budget. “We all understand that the money will need to be paid back at some point but it’s too early, with the economy still some way off reopening in full, to expect that of business.” Dr Adam Marshall, Director General of the British Chambers of Commerce, said: “Chambers of Commerce have campaigned for additional grants to support the cash flow of our hardesthit businesses, particularly those who have faced severe restrictions or closure in recent months. We welcome the announcement of these additional cash grants, which will be a lifeline for many firms as they look to restart and rebuild over the challenging months ahead. The Government, devolved administrations and local authorities must now make sure that cash gets to the front line fast. “While the announcement of additional grants is positive, a support plan that covers the rest of 2021 would really help to build business confidence. That means removing the immediate cliff edges on support by continuing the furlough scheme and VAT deferrals for as long as they are needed. Business rates relief for the hospitality, retail and leisure sectors should also continue until next year. “Critically, the government needs to send the right signals to firms and investors by avoiding hasty rises in business taxation. The best way to raise money for the Exchequer will be to give companies the breathing space they need, as the economy reopens, to generate revenue and return to profit.”
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Coventry and Warwickshire Chamber’s Group Commercial Director, Louise Wall, has been appointed as Chief Executive of the Northamptonshire & Milton Keynes Chambers of Commerce. Over the last 12-months, in addition to her role at Coventry and Warwickshire Chamber of Commerce, Louise has acted as the Interim Chief Executive for Northamptonshire & Milton Keynes, steering both Chambers through an unprecedented time in terms of the economic and business landscape due to the COVID-19 pandemic. Louise takes with her a wealth of experience across both the public and private sector. Prior to joining the Chamber of Commerce in 2014, Louise was Head of Sustainable Communities at Warwickshire County Council and had previously run her own successful private businesses.
During her time at the Coventry and Warwickshire Chamber, working alongside Chief Executive Louise Bennett OBE DL, Louise oversaw the development and delivery of many key Chamber services a nd contracts, including International Trade, Business Support and Membership, as well as supporting the work of Coventry & Warwickshire Chamber Training. The new role encompasses both the Northamptonshire and the Milton Keynes Chambers of Commerce which, whilst operating separately to serve the best interests of their local business communities, are led by a single Chief Executive and Senior Management Team. Louise said: “I am excited by this new opportunity having acted as Chief Executive on an interim basis for almost a year, in what has been an incredibly uncertain period for businesses. “I have thoroughly enjoyed my seven and a half years working with our members, the business community and partners across Coventry and Warwickshire.
“This is a new challenge and I’m looking forward to championing the member businesses across Northamptonshire and Milton Keynes, leading a passionate team and working with the Boards across both Chambers as we look to bounce back from the COVID-19 crisis.” Louise Bennett OBE DL, Chief Executive of the Coventry and Warwickshire Chamber of Commerce, said: “Although a huge and sad loss to the Coventry and Warwickshire Chamber of Commerce, we are proud to be part of the UK Accredited Chamber Network that succession plans for the future in terms of supporting leadership and talent into our most senior and high-profile roles. “We look forward to continuing a mutually supportive relationship, between our two leading Chambers, to the benefit of our Membership.” Louise will remain in post at Coventry and Warwickshire until June 2021 and take up her new role from July.
Bank paints a positive picture for the future – but with potential risks The Bank of England sees the post-Covid future for the economy as positive but with large doses of cautionary realism, businesses in Coventry and Warwickshire have heard. The Coventry and Warwickshire Chamber of Commerce welcomed Graeme Chaplin, the Bank of England’s Agent in the West Midlands, onto a call with firms from a range of sectors from across the region. Businesses – from manufacturing through to banking – gave Graeme their take on how they expect their own companies to emerge from the crisis once restrictions begin to be lifted. That was following an update on where the Bank believes the economy may be heading, should the Government’s roadmap stay on course. Graeme said: “The anticipation from the Bank of England is that UK economic activity is likely to recover strongly over
2021 towards pre-Covid levels. And the extension of the Government’s Job Retention Scheme is likely to soften any near-term rise in unemployment. “However, risks remain on both the upside and on the downside. “The outlook for the economy is unusually uncertain. It continues to depend on the evolution of the pandemic and measures taken to protect public health. And it depends on how households and businesses respond to those developments.” He added: “It is always great to hear from business people on how they are finding the current climate, as that helps us to get a clearer picture of what is happening on the ground.” Issues flagged by firms included the UK-EU trading relationship, rising transport costs and a shortage of raw materials. Sean Rose, policy officer of the Coventry and Warwickshire Chamber of Commerce,
Graeme Chaplin (Bank of England)
added: “We are very grateful to Graeme Chaplin and the Bank of England for the update and it was great to give many of our members the chance to report back on how they are finding life in business on the back of the Budget, Brexit and the Government’s roadmap out of restrictions.”
Unemployment expected to rise when furlough ends Business leaders in Coventry and Warwickshire say firms will need further support to keep the unemployment rate down in the next few months, after another small drop in the rate was recorded. The latest figures show that the unemployment rate dropped from five per cent to 4.9 per cent in the three months to February but that five million people remain in employment but on furlough. Sean Rose, head of policy at the Coventry and Warwickshire Chamber of Commerce, said the Government must be ready to offer more support to ensure the rate doesn’t jump once the furlough scheme ends. He said: “The latest unemployment figures show a small drop which is welcome but looking at the data from our most recent QES, there is concern among businesses around employment.
“The really big unknown is what is going to happen when the furlough scheme comes to an end and it’s vitally important that the Government stands ready to help businesses, who have faced the most incredibly difficult year. “Cutting the costs of employment and helping people to develop new skills fit for the workplace of the future could be vital in keeping the unemployment rate down over the next few months.” British Chambers of Commerce Head of Economics, Suren Thiru, said: “The latest data confirms that the UK labour market remains subdued. While there was a marginal fall in the unemployment rate, the squeeze on activity from ongoing restrictions helped drive a decline in payroll employment in March.
“Unemployment remains on course to peak towards the end of 2021, once the furlough scheme expires and those who stopped job hunting during the pandemic look to return to the workforce as restrictions ease. “Although the furlough scheme will limit the peak in job losses, the longer-term structural unemployment caused by Covid-19, particularly among young people, may mean that the road back to pre-pandemic levels lags behind the wider economic recovery. “Further action will be needed to support the labour market when the furlough scheme ends, including supporting businesses to recruit and retain staff through a temporary cut in employer national insurance contributions.”
www.cw-chamber.co.uk
