As a Chamber member you have the power to influence key decision makers and play a leading role in tackling the issues that are preventing your business from reaching its potential, while an experienced team of lobbyists represents your interests in Whitehall.
Join a Chamber Sector Group committee Chamber members can join our sector group committees and help us with future planning to ensure we are delivering events that are timely and of interest. Join one of our existing sector groups – your expertise is key: • Construction • HR & Recruitment • ICT (newly formed) • Inspiring Women • International • Learning & Skills. If you don’t want to be part of the committee but have suggestions for future events, please let us know. We’re also keen to know if there are other sectors that should be represented by the Chamber. Please get in touch with Zoe McCabe Brennan at z.mccabebrennan@cambscci.co.uk and share your thoughts.
ICAEW - Q3 Business Confidence Monitor results The latest results show that Business confidence in the East of England has risen to +40.1 in Q3 2021, the highest level seen in the region since the survey began, although slightly below the UK average. The swift distribution of vaccines and the gradual easing of coronavirus restrictions have helped lift business confidence. The Q3 East of England region key findings are: • After a challenging year, businesses expect a marked pickup in both domestic sales and exports growth. Although growth in the former will slightly trail the UK average. • Job losses have been limited over the past year due to the furlough scheme. And in the year ahead, employment should rise considerably. • Related to that, salary rises are expected to return to more familiar pre-pandemic rates, while businesses are becoming increasingly concerned by staff turnover and the availability of non-management skills. • Regulatory requirements and transport problems are also becoming more prominent challenges. • Both input and selling prices are expected to rise over the next 12 months, after being very muted during the pandemic. • Against a backdrop of rising demand, growth in capital investment spending should improve. Emerging capacity constraints will be a driving factor here. 28 connected
The full East of England report can be viewed at https://bit.ly/3gKaYb9 At the time of writing, the Chamber’s Quarterly Economic Survey (QES) for quarter three is live. Once results are collated we will share the results on the Chamber website and in the next issue of connected. The QES is the largest and longest-running business survey in the UK and is a powerful tool for representing the voice of business to Government. All responses, which remain completely anonymous, are used to form a picture of the local economic prospects as well as contributing to the regional analysis which is known to be held in high regard by the government, Bank of England and economic commentators.
Labour market statistics for August 2021 Suren Thiru, Head of Economics at the British Chambers of Commerce, commeted on the ONS Labour Market Statistics for August 2021. “The latest figures confirm that the UK jobs market is recovering strongly as the boost to demand from the easing of restrictions helped drive higher payroll employment in July. “Record vacancies confirm ongoing recruitment difficulties. Although the changes to self-isolation rules will help, with many firms facing a more deep-rooted squeeze on labour supply from the impact of Covid and Brexit, staff shortages may persistently weigh on economic activity. “Although labour demand is currently robust, with firm’s finances still recovering from Covid and skills mismatches likely to limit the extent to which those seeking jobs after furlough can move into available roles, unemployment may still drift somewhat higher in the near term. “Alongside rapid retraining opportunities, government should extend the Kickstart scheme into 2022 and expand it to enable older workers to gain new skills and experience. A more flexible immigration system is also needed to ensure that firms get access to the workers they need.”
