With QES (Q4) currently underway, this is a great time to reflect on the data we received around business conditions from our previous QES survey.
The British Chamber of Commerce have released a summary of the Q3 survey results which you can view here.
Inflation remains the top external factor of concern for the majority of respondents (65%), followed by interest rates (45%), and taxation (30%). We have also extracted comments from the survey, given by Liverpool city region-based businesses, which address difficulties around recruiting, skill shortages, and the negative impact of inflated salaries on existing wage structures. With most firms reporting no improvement to sales, cash flow, or investment, this data consolidates the financial and skills related pressures many businesses are currently facing.
Liverpool Chamber are currently holding many discussions around talent retention and existing skills-gaps. If you are currently facing skills-related concerns in your business you may be interested in joining Liverpool Chamber’s School Business Network (ran in partnership with Liverpool City Council), or attending our upcoming LSIP conference on the 23rd January.
The QES (Q4) survey is now open and we would encourage all businesses to take the opportunity to complete the survey which provides key data used by the Treasury, Bank of England and other key decision makers.
You have until Tuesday 28 November to make sure your views are heard. It only takes a few minutes and you can access the survey here.
The data is not only used nationally and for this quarter we have included two specific questions on business in the Liverpool City Region to inform our discussions with local decision makers.
With the forthcoming budget, a general election on the horizon and the continuing pressures on business around recruitment, interest rates and inflation – help us to identify the support local businesses really need.
As always, we welcome your continued thoughts and input, and the Chamber will continue to support businesses in any way we can.
If you wish to discuss this further please feel free to contact us on policy@liverpoolchamber.org.uk