Our latest Quarterly Economic Survey is now open. Click here to take part.
Herefordshire & Worcestershire Chamber of Commerce represent the views of our members to national government, ensuring that the business case drives government policy. A great benefit of being part of this extensive network of business support is that your views are represented in our Quarterly Economic Survey Reports. The Quarterly Economic Survey (QES) is the UK’s largest and longest running independent survey of business sentiment.
At a local level, the QES is an important source for us at the Chamber to review performance, concerns, and views of our businesses across the counties. We then use this data when meeting with local MPs and council leaders to develop economic strategies and policies to promote and enhance growth and enterprise.
At a national level, it is a leading indicator often picking up big changes in the economy long before other surveys or official statistics. The Bank of England’s Monetary Policy Committee use the QES as one of its key benchmarks when setting interest rates and HM Treasury and the OBR use the QES to put together their forecasts for the UK’s economic performance.
The research conducted will be shared with the British Chamber of Commerce, along with 53 UK Chambers, and provide a framework from which Herefordshire & Worcestershire Chamber of Commerce can influence local and national partners, and benefit Chamber Members in the two counties.
In last quarter’s survey, the results led to reasons for optimism as well as reasons for concern, with UK sales and overseas sales decreasing last quarter. However, cash flow increased which is optimistic for businesses. We are therefore interested in how your business has performed over the last three months and your feedback will feed into our discussions with the British Chamber as well as local and national government.
This survey has a focus on the hybrid working policies and how these are affecting your organisation. In our latest Salary & Benefits report, 75% of businesses reported that they offer hybrid working. We are interested to see if this has changed and how hybrid working has shaped business operations.
By taking part in this survey, you will have the chance to win a £100 Amazon Gift Voucher.
To take part in this quarter’s survey, please click here.