Birmingham Chamber of Commerce and Industry

Directors' Report (continued)

For the Year Ended 31 March 2023

Future developments

BCCI’s Strategy and Objectives are set out in the Strategic Report on page 1. The Board will continue to implement the business plan which has resulted in the establishment of adequate and sustainable financial surpluses.

BCCI has continued to evidence value-add to business and other stakeholders during this period and has continued to assist member business with their business challenges.

The sale of the leasehold property and the significant cash contribution to the defined benefit pension scheme in 2020 has put BCCI on a sound financial footing, and we continue to look for ways to support our member businesses and other customers with the ambition to achieve growth in the longer term.

BCCI gave notice to terminate the lease of its Head Office in October 2022 and will move to new leasehold premises in Autumn 2023. 2023/24 will see significant investment in the new offices as well as the next phase of our Digital Transformation project: a new website and member portal.

BCCI’s contract with the Department for International Trade for provision of export advice ceased in June 2022 as DIT took this contract in-house. BCCI exited the Greater Birmingham & Solihull Local Enterprise Partnership in September 2022.

Engagement with employees

The company maintained its practice of consultation and communication with employees both by formal and informal methods.

BCCI’s Employee Engagement Group meets quarterly and comprises members from all departments. Its primary aim is to capture, utilise and act upon the mutual interests of staff, creating and promoting a positive and inclusive working environment that fosters communication, cooperation and openness.

There is a Diversity, Inclusion and Belonging sub group which gathers information and provides education to colleagues on events and activities related to Diversity and Inclusion, incorporating amongst other things race, ethnicity, gender, sexual orientation and disability

A staff survey was carried out in January 2023. 82% of staff responded and the overall net promoter score improved by 3 points since the 2022 survey Certain measures identified as priorities in the 2022 survey saw significant improvement (around EDI and feeling up to date about the Chamber’s performance and future plans). The next steps identified as a result of the 2023 survey are to work with managers and the DIB and EEG groups to discuss key findings and gain their qualitative feedback and suggestions, to use the feedback to review organisation wide activity - Chamber Academy, mentoring pilot, commendations process - and adapt accordingly and to work with managers to identify any specific areas of the business requiring further review or intervention. The survey also highlighted an action to Move Well: to ensure that the opportunity of the move from Chamber House to support instilling pride and motivation is realised through planned team engagement activity before, during and after the move.

Matters covered in the Strategic Report

Details of the principal risks and uncertainties are contained in the strategic report.

Directors' Report (continued)

For the Year Ended 31 March 2023

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, the directors' report and the financial statements in accordance with applicable law and regulations

Company law requires the directors to prepare financial statements for each financial year Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the directors are required to:

 select suitable accounting policies for the Company's financial statements and then apply them consistently;

 make judgments and accounting estimates that are reasonable and prudent;

 prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006 They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

Each of the persons who are directors at the time when this directors' report is approved has confirmed that:

 so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

 the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditor

During the year, Dains Audit Limited were reappointed as the Company's Auditor. Dains Audit Limited have expressed their willingness to continue in office and will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 21 July 2023 and signed on its behalf.

H E Bates Director