The Quarterly Economic Survey has been conducted by The British Chamber of Commerce since 1989. 53 Chambers take part and Herefordshire and Worcestershire Chamber of Commerce hold the honour of being in the Top 3 amongst the Chambers that contribute.
This survey was no different. Seeking updates on sales, costs, investment plans, profitability, and cash flow projections.
In summary, UK Sales are in many cases falling or remaining the same compared to last quarter. Overseas sales are holding their own and increasing for some.
The transit of goods is improving, the increased red tape following Brexit is however holding businesses back. The biggest concern is inflation, and rising costs of materials and energy. This has led to many revising the profit and cash flow projections compared to Q1.
The Chamber is so grateful to the Avoncroft Museum in Bromsgrove for providing their prize as an incentive to complete the survey and wish them a hugely successful visitor season.