Latest Quarterly Economic Report provides snapshot of business performance during final months of 2021

Today the latest Quarterly Economic Report has been released, providing the most up to date snapshot of local business performance and confidence.

The Quarterly Economic Survey (QES) has been conducted by the British Chambers of Commerce within its UK network since 1989. Its findings have allowed businesses, their partners and representative bodies to assess their current position, plan, and benchmark themselves amongst their peers. The latest survey was completed by 5487 businesses across the UK, 409 (7.4%) of them from Herefordshire and Worcestershire.

The Report also includes a special focus on the barriers that are preventing businesses from becoming more sustainable. Together with Worcestershire County Council’s Clean Growth Team, the Herefordshire & Worcestershire Chamber of Commerce are providing businesses with resources to help them become greener, with programmes such as the Business Energy Efficiency Programme (BEEP) and Low Carbon Opportunities Programme (LoCOP).

Sharon Smith, Chief Executive of the Herefordshire & Worcestershire Chamber of Commerce, said: “Our latest survey conveys the issues that businesses will be faced with as we start 2022. Some businesses already had cashflow concerns even before the emergence of the Omicron variant and ‘Plan B’ was imposed. The latest Quarterly Economic Report will go a long way to informing government, both locally and nationally, of exactly where businesses are struggling and in what areas they need a helping hand.

“I thank each and every one of the businesses who took time to complete the survey and encourage all businesses to use the report to allow them to better understand what concurrent issues are present for other businesses and how they have managed to weather the storm.”

To download your free copy of the Report, please visit here.