Handouts help but local firms need another leg-up
BUSINESS has always been a rollercoaster. It’s the nature of the beast. However, this past year as per the year before, it has been a pressure keg, which has released a seemingly relentless Tsunami of challenges.
Brexit, world leadership changes, country destabilisation; global pandemics, supply chain issues, raw material price increases and skills shortages.
Now followed by rising inflation and increased interest rates. Any one of these events would usually be more than enough to cope with but we’ve had them all.
While throughout this period the Government has provided a number of schemes to support business, furlough being the largest, the “reopening” that we have recently experienced should by no means be seen as job done. We as businesses knew that from the outset.
As with any major event, the impact can take much longer to play out. As president I reinforce the Chamber’s stance on lobbying government to provide fundamental support to alleviate the pressure and challenges being faced by businesses.
Just when they were starting to recover from past restrictions, non-essential retail, hospitality, live events and the travel industry and related supply chains are now further impacted by Plan B.
So I was delighted when the Chancellor announced a further £1 billion support for the hospitality sector.
The Omicron variant along with mixed messages from the Government, had impacted customer confidence, reflected in the number of cancellations being experienced in the hospitality sector as we now hit the Christmas holiday season.
While the money will help, the job for Government is definitely not done – we need clarity of messaging and these industries, along with manufacturing, need ongoing support.
The government needs continually to be reactive and proactive, consistently reviewing the need for additional financial support for all businesses effected by drop in demand or an inability to deliver to customers as a result of critical supply chain issues.
The Chamber continues to lobby for the speeding up of the Business Rates Relief Fund and a long-term reduction in VAT, which will have a positive effect particularly for those in hospitality and retail.
In addition, we are pushing for the return of free test kits for businesses, a reduction in the cost of PCR tests for travellers and the provision of flexibility for repayment of CBILs for those businesses suffering significant financial hardship but not classed as in distress. We have been engaging with local MPs and other regional stakeholders to share our members’ perspectives on these latest developments and we encourage Chamber members and non-members to continue to reach out to us and share what Plan B means for them so that we can best represent the local business community.
A regular update re Covid-19, regulations and support can be found on the Chambers website www.greaterbirminghamchambers. com
As a business owner who both manufactures products and provides threat intelligence services, I know at first hand the challenges being faced by businesses across the region.
Supply chain delays, increased costs, employee churn, potential increased cyber security risk due to remote working.
At times it seems insurmountable and relentless, but I’m a firm believer in that we are stronger together.
By sharing our experiences, signposting each other to available support and contacts, we build a stronger case to lobby Government ensuring the support provided is relevant to the needs of the business community and the economic standing not only of this region but of the country.
In this regard our country needs businesses more than ever; we their your voices. Looking forward to 2022, while we doubtless have challenges ahead, business finds a way and the past two years have shown our adaptability and resilience.
Business is fundamentally about three key things: People Places Planet.
How we engage with our stakeholders, our cultural appreciation and our impact on the environment, all are fundamental to our brand, our ethos and our success.
People Places Planet – these things may not remember what you do, but they will remember and be impacted on how you do it.
I look forward to welcoming businesses to the Chamber events and to hopefully meeting many in person throughout the course of 2022.
We need clarity of messaging and these industries, along with manufacturing, need ongoing support