BCC responds to government’s plan for local lockdowns
Commenting on the government's five-step plan for imposing local lockdowns in the case of coronavirus spikes, BCC Co-Executive Director Hannah Essex said: “Businesses will welcome the announcement of a considered approach to local lockdowns, which could pose further challenges for operational and consumer confidence in the weeks and months ahead.“Where local lockdowns unfortunately do become necessary, firms will need greater clarity and support to help them survive further disruption.“Transparent
BCC responds to changes to England’s quarantine restrictions
Commenting on the government’s announcement of quarantine-free travel with a specified list of ‘low-risk’ countries, BCC Director General Dr Adam Marshall said: “Businesses will be pleased to see the back of the UK government’s damaging blanket quarantine policy, but they will also be asking a lot of questions about its replacement. “It’s taken far too long for the exemption list to appear, and the fact that it does not initially apply to all four nations of the UK will put regional connectivity and
BCC Quarterly Economic Survey Q2 2020: Chancellor must set out roadmap to recovery as UK economy endures historic setback
The British Chambers of Commerce has called for “swift, substantial and immediate action” to bolster the economy, as its Quarterly Economic Survey (QES) - the UK’s largest independent survey of business sentiment and a leading indicator of UK GDP growth - found that UK economic conditions deteriorated at an unprecedented rate in the second quarter of 2020. Key findings: Eleven of the 14 key service sector QES indicators fall to their lowest level in the survey’s 31-year history The percentage balance of
BCC comments ahead of Prime Minister's speech encouraging Britain to ‘Build, Build, Build’
Commenting ahead of the Prime Minister’s speech in the West Midlands, in which he will announce a ‘New Deal for Britain’, BCC Director General Adam Marshall said: “The infrastructure delivery plans announced by the Prime Minister are welcome, but they must take shape on the ground swiftly to give a real confidence boost to businesses and communities. “The government must go even further over the coming days to rekindle business and consumer confidence, as part of a wider roadmap to economic
BCC responds to Prime Minister’s announcement on further easing of lockdown restrictions
Commenting on the Prime Minister’s announcement of further easing of Coronavirus restrictions from July 4 in England, including the reopening of culture, tourism and leisure venues as well as a relaxation of the two-metre rule, BCC Director General Adam Marshall said: “These steps will enable more companies to reopen and will be cautiously welcomed in our business communities. “While the relaxation of the two-metre rule will help more firms increase capacity, we are still a long way from business as
HM The Queen praises Chambers’ contribution to business communities during Coronavirus as more firms
Her Majesty The Queen has offered support to businesses as they reopen, and praised the contribution Chambers of Commerce across the UK and around the world are making to help firms, champion trade and rebuild communities, in a letter released today. The letter from Her Majesty, Patron of the British Chambers of Commerce, comes as businesses across the UK are reopening and adjusting to a new normal. The letter reads: “At a time of great difficulty for many, it is heart-warming to see the civic
BCC responds to Bank of England’s Monetary Policy Committee
Commenting on the decision by the Bank of England’s Monetary Policy Committee to keep interest rates on hold and expand quantitative easing, Suren Thiru, Head of Economics of the British Chambers of Commerce (BCC), said: The Bank of England’s decision to significantly expand quantitative easing reflects the unprecedented impact of coronavirus on the UK economy. It is vital that the Bank works with financial institutions to ensure that it translates into on the ground support for businesses. With
BCC responds to April GDP figures
Commenting on GDP statistics for April 2020, published today (12th June) by the ONS, BCC Head of Economics Suren Thiru said: With a monthly fall in UK GDP over thirty times the average month on month decline during the global financial crisis, the economic impact of Coronavirus has been put into sharp relief. With lockdown restrictions gradually easing and shops beginning to reopen, April is likely to prove to be the low point for the UK economy. However, any prospect of a ‘V-shaped’ recovery remains
BCC and Amazon partner to help firms operate safely in ‘new normal’
The British Chambers of Commerce has launched an innovative partnership with Amazon to help businesses get back to work and kick-start the economy as lockdown restrictions ease. 1,000 UK businesses can tour Amazon fulfilment centres, where staff have been working safely throughout the crisisMajority of businesses surveyed can partially restart operations but 1 in 10 cannot, with many citing social distancing as a difficultyPartnership will provide practical guidance to help firms get back to work safely
BCC responds to 14-day quarantine for air passengers - Latest
Responding to government confirmation of a 14-day quarantine for all air passengers and further detail on exemptions for those arriving in the UK, BCC Director General Adam Marshall said: Business communities in the UK and around the world remain concerned by the Government’s decision to impose a blanket quarantine on international arrivals. The safe re-establishment of connections to key markets and trade partners must now be a top priority for the Government. ‘Air bridges’ must be put in
BCC responds to changes to Job Retention Scheme and support for the self-employed
Commenting on the Chancellor’s announcement today (29th May) on additional changes that will be made to the Job Retention Scheme from July onwards, BCC Director General Adam Marshall said: The Chancellor has listened to business communities and struck a careful balance that will help many firms bring furloughed staff back to work flexibly over the coming months. The gradual reduction in furlough contributions from the Treasury will give businesses additional time to rebuild their income streams and cash
BCC responds to the launch of the government’s Test and Trace programme
Commenting on the announcement of the government’s Test and Trace Coronavirus programme, BCC Director General Dr Adam Marshall said: A comprehensive Test and Trace programme is essential to boosting the confidence of businesses, staff and consumers as the economic re-start continues. Businesses will be keen to play their part in the success of the programme, and will support their staff to follow the guidance. A co-ordinated approach to Test and Trace across all four nations of the UK will be
BCC responds to 14-day quarantine for air passengers
Responding to the planned government announcement of a 14-day quarantine for all air passengers arriving in the UK, BCC Director General Adam Marshall said: Business communities in the UK and around the world will be deeply concerned by the decision to impose a blanket quarantine for international arrivals. This approach will damage international business and investor confidence at a time when it is vital to demonstrate that the UK can open for business safely. Co-ordinated checks at departure and
BCC responds to Prime Minister’s announcement on reopening of the retail sector
Commenting on the Prime Minister’s announcement on the phased reopening of the retail sector in England, related workplace guidance and enforcement powers, BCC Director General Adam Marshall said: Clarity and guidance on plans for a phased reopening of the retail sector will be welcomed. Businesses will be taking a safe, proportionate and risk-based approach to returning to work, in close consultation with their staff. For many this will be an entirely new way of operating as they apply guidance to the
BCC Coronavirus Business Impact Tracker: Firms begin to reopen but one in ten cannot implement gover
Results from the latest BCC Coronavirus Business Impact Tracker reveal that the majority of firms surveyed are in a position to partially restart operations as lockdown restrictions are eased: 83 per cent of respondents report that they know some or a lot of details about government guidance on working safely 37 per cent of firms report they can implement the guidance and fully restart, and 45 per cent report they can partially restart 85 per cent of respondents have received payment from furlough
BCC responds to publication of UK trade tariffs
Commenting on the publication of the UK Global Tariff that will apply to imported goods from 1 January 2021, BCC director general Adam Marshall said: The publication of the UK Global Tariff provides welcome clarity for businesses as they prepare for life outside of the EU. While the new tariff regime will provide the government with some leverage in future trade talks, it also demonstrates the importance of reaching a UK-EU agreement to avoid substantial increases in costs for businesses on both
BCC responds to extension of the CLBILS scheme
Commenting on the extension of the CLBILS scheme, including extending the lending limit to £200m, BCC Head of Economics Suren Thiru said: It is good to see the government continue to listen to business concerns and make improvements to existing schemes. These important changes could make a real difference to larger firms in particular and alongside the other lending support schemes will help ensure that more businesses of all sizes get access to the finance they need to help weather this
BCC responds to ONS Q1 2020 GDP stats
Commenting on GDP statistics for Q1 2020, published today (13th May) by the ONS, BCC Head of Economics Suren Thiru said: The contraction in UK GDP in the first quarter underscores the negative impact that coronavirus had on the economy, even at its earliest stages. The quarterly decline was driven by a sharp drop in monthly GDP in March with activity in all sectors contracting as the UK went into lockdown. The speed and scale at which Coronavirus has hit the UK economy is unprecedented and means that
BCC responds to launch of government guarantee to support provision of trade credit insurance
Commenting on the launch of a temporary government backed guarantee to support the provision of trade credit insurance for businesses, BCC Director General Adam Marshall said: The government has demonstrated once again that it is listening to the concerns of our business communities. The launch of a government-backed guarantee to support the provision of trade credit insurance will help ensure that this vital lifeline remains available to businesses during and after this crisis, helping to maintain
BCC Coronavirus Business Impact Tracker: Firms ready to embrace ‘new normal’ but government support
Results from the latest BCC Coronavirus Business Impact Tracker reveal that firms are ready for a gradual reopening of the economy but will need continued, adaptable government support during a phased return to work. Over 70 per cent of respondents have furloughed a portion of their staff Nearly three quarters of these firms have submitted a claim to the furlough scheme and received payment The Job Retention Scheme has prevented redundancies for vast majority of respondents The leading business
BCC responds to Government’s Covid-19 recovery strategy and workplace guidance
Commenting on the publication of the UK Government’s COVID-19 recovery plan and associated workplace guidance, BCC Director General Adam Marshall said: This is a significant step forward in terms of the information available for businesses, who will now need to digest the detail. The guidance signals big changes for the way that many businesses operate, and some firms will now need time to plan and speak to their employees so that they can return to work safely. Alongside this guidance, businesses
BCC responds to Sunak announcement on extension of the Coronavirus Job Retention Scheme
Commenting on the Chancellor’s announcement today (12 May) that the Coronavirus Job Retention Scheme will be extended to October, BCC Director General Adam Marshall said: The extension of the Job Retention Scheme will come as a huge help and a huge relief for businesses across the UK. The Chancellor is once again listening to what we’ve been saying, and the changes planned will help businesses bring their people back to work through the introduction of a part-time furlough scheme. We will engage with
BCC comments on Prime Minister’s address and next stage of Coronavirus response
Commenting on the Prime Minister’s address this evening (10 May) in which he set out a conditional plan for the next phase of the response to Covid-19, BCC Director General Adam Marshall said: Businesses share the Prime Minister's ambition to see more people return safely to work over the coming weeks. Companies will do everything they can to protect employees and customers, maintain social distancing and operate successfully as more sections of the economy are permitted to re-open. Businesses
BCC responds to the latest UK Finance Coronavirus Business Interruption Loan Scheme update
Commenting on the latest UK Finance figures (7 May) on the number of firms successfully accessing CBILS, the BCC’s Head of Economics Suren Thiru said: Although the steady improvement in the number of firms accessing CBILS is welcome, with many firms only having a few months' cash in reserve the pace of delivery remains disappointingly slow.The strong start made by the Bounce Back loan scheme is encouraging for the smallest businesses that are struggling to stay afloat. However, more needs to be done to
BCC comments on start of formal UK/US trade negotiations
Commenting on the news that the UK and US are to open formal negotiations on a future free trade agreement, BCC Director General Adam Marshall, said: While most UK businesses will be focusing on the immediate challenge posed by Coronavirus, strong trading arrangements with both the European Union and USA will support recovery and future growth. The government has set a high ambition for UK-US talks, and it will be particularly important to get the details right over the coming months to ensure that any
This is a time to be bold: BCC sets out principles for safe restart of UK economy
Open letter to Prime Minister published as government mulls plan to lift lockdown British Chambers of Commerce President, Baroness Ruby McGregor-Smith, has written an open letter to the Prime Minister setting out principles for a phased restart of the UK economy. The leading business group set out its integrated approach, the first step in a three-stage process, as the government prepares to ease initial lockdown restrictions. The letter reads: “The fight against the virus must remain the top
BCC Coronavirus Business Impact Tracker: most firms can be ready for ‘restart’ within three weeks
Results from the latest BCC Coronavirus Business Impact Tracker reveal the vast majority of firms surveyed say they will require three weeks or less to prepare to restart operations alongside any loosening of the UK lockdown. Smaller businesses may be able to restart operations more quickly. Almost two-thirds (64 per cent) of respondents employing fewer than 10 people say they would need less than one week, compared to half (50 per cent) of respondents with more than 50 employees. For firms of all
Resurgam! Plymouth's economy to rise again
Council leader Tudor Evans has pledged to lead from the front the city’s economic recovery programme out of the COVID-19 lockdown. At Cabinet today (Tuesday 5 May) he will announce plans to help Plymouth’s businesses get back to work through Resurgam - a programme to oversee recovery across all sectors. The name is Latin for ‘I shall rise again’ and the word became part of Plymouth’s history when it appeared on a wooden sign over the bombed out St Andrew's Church during the Blitz. Councillor Evans
BCC responds to announcement of a discretionary fund for small businesses
Commenting on the government’s announcement today (2 May) of a discretionary fund for small businesses that have previously been outside the scope of the business grant funds scheme, BCC Director General Dr Adam Marshall said: We have been calling for additional support for businesses and entrepreneurs who have fallen between the cracks, so it is welcome to see additional funding allocated to support some of these hard-pressed firms. Clarity and speed are of the essence. Many of the companies that have
BCC responds to UK Finance’s update on Covid-19 Business Interruption Loan Scheme applications
Commenting on UK Finance’s latest figures (30 April) on the number of firms successfully accessing CBILS, the BCC’s Head of Economics Suren Thiru said: While the number of firms accessing CBILS is on an encouraging upward curve, a concerningly high number of firms continue to struggle to access this crucial lifeline. The Bounce Back loan scheme is a welcome step toward getting cash to the smallest firms more quickly. The UK government and financial institutions should simplify and standardise the CBILS
BCC Coronavirus Business Impact Tracker: Loan schemes still slow to help many cash-strapped firms – but furlough scheme preventing redundancies
Results from the latest BCC Coronavirus Business Impact Tracker reveal the majority of businesses surveyed ahead of changes to the scheme announced on 27th April did not intend to seek financial support through CBILS bank loans and most of those who had applied were awaiting a decision or had been unsuccessful. While the appetite for loan support is highest amongst firms with the most urgent cash flow problems, many of these firms did not intend to access CBILS due to concerns they could not repay the
BCC responds to announcement of the Bounce Back loans scheme
Commenting on the Chancellor’s announcement of the Bounce Back loans scheme for micro businesses, BCC Director General Adam Marshall said: The Chancellor has demonstrated he is listening to the concerns of our business communities and taking steps to get cash to the front line where it is needed. This new route for our smallest companies to apply quickly and get a fast decision will be crucial to those who have struggled to get a CBILS loan.
BCC responds to UK Finance’s update on Coronavirus Business Interruption Loan Scheme applications
Commenting on the latest UK Finance update on the number of firms successfully accessing CBILS, the BCC’s Head of Economics Suren Thiru said: The increase in companies accessing CBILS is encouraging progress. However, the number of applications processed and approved will need to be increased significantly in what is a crunch week for firms urgently trying to access financial support. Our Coronavirus Business Impact Tracker tells us that a concerningly high number of businesses are still finding
Shop 4 Plymouth: New online marketplace links you with local retailers
Shop local, support independent retailers and buy everything you need – from food and drink to gifts from the safety of your home. A new online marketplace is making it easy to do just that. Shop 4 Plymouth showcases local traders that are open and following Government guidelines or which have adapted to offer a delivery service instead. The initiative has been set up by the Plymouth City Centre Company and Plymouth City Council, with support from Plymouth Waterfront Partnership, in response to the
More than 70 per cent of firms surveyed have furloughed staff as scheme goes live
Results from the latest British Chambers of Commerce Coronavirus Business Impact Tracker reveal that the vast majority of businesses surveyed have furloughed a proportion of their workforce, and are awaiting funds from the Coronavirus Job Retention Scheme as payday approaches for many. •71 per cent of survey respondents have furloughed staff, up from 66 per cent last week •Cash flow remains a significant concern for many businesses - 6 in 10 have less than three months’ cash in reserve The leading
.jpg)
BCC Coronavirus Business Impact Tracker: More than 70 per cent of firms surveyed have furloughed staff as scheme goes live
Results from the latest BCC Coronavirus Business Impact Tracker reveal that the vast majority of businesses surveyed have furloughed a proportion of their workforce, and are awaiting funds from the Coronavirus Job Retention Scheme as payday approaches for many. 71 per cent of survey respondents have furloughed staff, up from 66 per cent last week Cash flow remains a significant concern for many businesses - 6 in 10 have less than three months’ cash in reserve The leading business organisation’s weekly
BCC responds to opening of Job Retention Scheme online application portal
Commenting on news that applications are now open for the government’s Coronavirus Job Retention Scheme, BCC Director General Adam Marshall said: The opening of the Job Retention scheme is an important milestone for businesses, who can now begin to access the cash they need to pay their staff and protect livelihoods. “The government deserves credit for the speed, scale and flexibility of its response to the challenges facing our business communities. The focus should now be on delivering this support to
.jpg){kind=logo}
Call to plug the gap for support for small business
Plymouth’s leading business support organisations are joining forces with the Council to campaign for small businesses that have missed out on vital Government support. A letter is being sent today to the chair of the Local Government Association, Councillor James Jamieson asking for help to ‘plug the gaps’ for support for small businesses. In Plymouth around 400 businesses - employing over 3,000 people - are still without a financial lifeline because they don’t fit the criteria for one of the grant
Businesses not yet successfully accessing government loan and grant schemes
Results from the second BCC Coronavirus Business Impact Tracker reveal that most businesses have not yet successfully accessed the government’s Coronavirus Business Interruption Loan Scheme (CBILS) and the grants for small businesses. Just 1 per cent of firms had successfully accessed CBILS and 7 per cent are receiving grants57 per cent of firms have three months cash in reserve or less, 6 per cent of respondents have already run out of cash37 per cent of respondents said they were planning to furlough
New Title Goes here
The Heart of the South Local Enterprise Partnership is currently consulting on its document entitled ‘Stepping up to the Challenge.’ This is a draft Productivity Strategy for the counties of Devon and Somerset. Our area compares unfavourably with most in the county in terms of the volume of the work achieved, per hour, spend on innovation, number of companies which export and overall how competitive our economy is. The strategy aims to double the size of the local economy by 2030 and improve our relative
NEWS FEED
Sign up for updates
Click the link below and enter your email address to join our mailing list and receive all the latest Chamber news.
