2025-26 Manifesto

The Quarterly Economic Survey tracks business confidence regarding turnover and profitability. Throughout 2024, turnover projections gradually declined, with 57% of businesses expecting growth in Q1, dropping to 52% in Q2, and finishing the year at 44%.

Profitability projections followed a similar trend, with 49% of businesses anticipating improvement in Q1, which decreased to 37% by Q4. In Q1, 18% of businesses predicted a decline in profitability for the following quarter, and by Q4, this figure had risen to 29%.

“When sales are static, every additional cost hits the profit margin of our business. NI, Minimum Wage and increase in rates will mean we either need to find ways to sell more or we will need to increase prices.” – Retail Business

• Organise a range of industry-focused, county-specific, and regular networking events, along with informative webinars for Members, to enhance the visibility of organisations both locally and nationally.
• Host the Herefordshire and Worcestershire Chamber of Commerce Expo in October 2025, providing businesses with the opportunity to showcase their brand, boost sales by purchasing exhibition stands, and engage with industry experts on relevant, current topics.
• Leverage Chamber communications, e-shots, the Policy Newsletter, and Business Direction magazine to showcase projects that could benefit all members, including training initiatives and funding opportunities.
• Relaunch the Growth Forum, designed for businesses of all sizes to learn best practices, overcome challenges, and build relationships that will provide a platform for short- and medium-term growth, while ensuring long-term sustainability.
• Conduct the Quarterly Economic Survey, producing a report for each survey that highlights business confidence and key concerns for that quarter.
• Continue exploring and directing businesses to local and national government funding schemes via the Cost-hub on the Chamber website, featuring details on funding, grants, and business support resources.
• Facilitate regular Bank of England briefings with updates on the national economy, featuring insights from various businesses.

The number of businesses attempting to recruit gradually declined throughout 2024, with 52% in Q1 compared to 46% in Q4. Notably, by the end of 2024, the top business priority identified was Wage and National Insurance Costs, which accounted for 70%. Starting in April 2025, the UK government’s planned increase in employers’ National Insurance contributions—from 13.8% to 15%—and the reduction of the earnings threshold from £9,100 to £5,000 will significantly raise employment costs for businesses. This financial burden may prompt companies to scale back recruitment efforts, freeze hiring, or even reduce existing positions, potentially affecting job opportunities and hindering economic growth.

“Like all organisations, particularly charities, the NI increases on top of the NMW have created significant challenges and will likely lead to higher prices for customers.” – Hospitality Business

“NI increase means very real decisions about hiring new people and growth plans by investment.” – Professional Services Business

• Ensure that the Skills Hub remains up-to-date and easily accessible on the Chamber website.
• Enhance the Chamber’s training offerings to support members in developing their workforce, providing tailored and specialised training to address specific business needs.
• Continue to advocate for equality and diversity in the workplace through case studies, forums, and training initiatives, making a positive impact on both society and local communities.
• Build on the successful partnerships established in 2024 with universities, further education institutions, and training providers to collaborate on localised support programs.
• Maintain the delivery of Young Professional events to assist emerging professionals in honing their networking skills, while also offering ongoing forums and opportunities for HR professionals to exchange best practices and broaden their expertise.
• Further the advancement of the Local Skills Improvement Plan (LSIP) by collaborating with employers and training providers to identify the skills needs of local businesses and strengthen the relationship between these two groups.
• Continue to partner with public sector authorities and further education providers to assess the skills needs of businesses in the region and ensure that employees have access to relevant training opportunities.

In the fourth quarter of 2024, 28.85% of businesses reported cyber security as a pressing challenge or concern, reflecting the growing vulnerability to cyber threats and the increasing importance of robust digital security measures. This highlights the need for businesses to strengthen their defenses against cyber-attacks, data breaches, and other forms of digital disruption. In addition, 15.38% of businesses expressed concerns regarding the potential risks posed by artificial intelligence (AI).

“Increase in NI for businesses will make us less likely to try to recruit. More likely to turn to efficiency savings and productivities, as well as looking more into AI.” – Marketing and Communications Business

• Collaborate with members of the technology sector to demonstrate the benefits of technological advancements to the broader Chamber membership.
• Emphasise the risks associated with cyber security and offer practical solutions to mitigate these threats.
• Maintain and expand training courses to enable employees to sustain their competencies while developing new skills.
• Continue working with affiliate partner, Cyber Essentials, to help promote the scheme and offer Members a discount on the certification.
• Continue collaborating with local universities, including the University of Worcester and NMiTE, as well as Higher Education establishments and Training providers to ensure that educational programs align with industry requirements and emerging developments.
• Promote and emphasise Technology and Innovation funding opportunities through the Chamber’s Cost Hub.