The Chamber works closely with businesses across all sizes and sectors to ensure that business views are represented to key local and national decision makers. To ensure every sector is represented the Chamber hosts two Area Councils, one in Worcestershire and one in Herefordshire. Each Area Council consists of 15 specialists, from different sectors, who meet six times a year to provide feedback from their respective professions. The feedback is then used to inform our economic reports and shape the policy activity we deliver to Member businesses.
Every other month both Area Councils meet in a Joint Area Council. If you want to find out more about your sector representative or get in touch to ensure your views are shared at the next meeting, click here.
Below is a summary of key sector updates from the latest Joint Area Council meeting.
Property
Residential Market Strong, good if selling, not so good if buying. Expecting a natural slowdown towards Christmas. Housebuilders looking for land, new sites needed. Commercial market equally strong, particularly industrial, logistics. Very little sites available which is causing real challenges.
Education
Student recruitment principal activity. Next Cohort January. Diversifying into new industry sectors. Working with veteran community.
Engineering
Material shortages and price increases continue to cause issues. Supply chain continues to struggle with high levels of demand. Labour shortages added to issues too. Better news in recent times on fulfilment of orders.
Food and Drink
CBD oils becoming very popular and growing market of estimated value 1 billion.
Retail
Cost increases of between 10 and 20%. Material costs and freight costs a factor. Shortages in shops of some products. Retailers reluctant to increase prices. Utilising apprenticeships to resolve labour shortages but there is a lack of take up. Sustainability Charter well worth being involved in – https://bcorporation.uk/
Legal
Pre-budget transaction levels were high in anticipation of change. Less challenging budget meant less transaction post announcements. Property transactions very high. Clients experiencing supply chain issues and increased costs. Succession planning very popular with deals being arranged. MBO’s very popular.
Logistics
Fuel has increased 15% in last 6 weeks, stabilised now. Struggling with recruitment generally, not just Brexit related, with 47% of HGV drivers over 50. New tractor units hard to find. Second-hand market strong. DVLA behind on licensing, many drivers using temporary. Agency drivers, following relaxation of regs, coming through.
Charity and Social Care
Changes to Universal Credit, and increased energy costs having significant effect. Food bank usage up. Proving difficult to find engineers to carry out repairs and maintenance that had been previously delayed due to Covid. Doubled apprenticeship numbers and utilising kickstart where possible.