Express your views on current challenges facing business

The British Chambers of Commerce are inviting businesses to share their views in their 2024 Outlook survey.

The survey invites the business community to express views on current challenges faced as a result of factors such as the Middle East crisis, interest rates, UK growth, and taxation.

Following the data collection, the findings will be anonymised and presented to UK Government ministers and officials with the aim of informing and shaping policy decisions made about the national economy.

The launch of this survey comes about following the British Chamber of Commerce’s findings from the recent Quarterly Economic Survey which reveal that businesses are facing challenges such as price increases, difficulties to increasing sales and stagnating investment levels.

Specifically, 36 per cent of respondents reported an increase to domestic sales in the last three months, which is largely unchanged since Q3 2022, and the number of firms anticipating price increases rose by six percentage points since the previous quarter to reach 47 per cent.

At a local level, less than half of businesses in Greater Birmingham grew their sales volumes in Q4 2023 and 45 per cent anticipated facing increased price pressures over the next three months.

Despite such challenges, concerns about interest rates are beginning to fall and now sit at less than one in five and export sales volumes are showing signs of renewed growth.

Gemma Dilkes (pictured), Greater Birmingham Chambers of Commerce policy and projects officer, said: “The British Chambers Outlook Survey provides an additional opportunity for businesses in Greater Birmingham to express their views on key metrics of business confidence, especially given that the crisis in the Middle East is likely to have an impact on trade flows and trading relationships across the globe”.

“I urge businesses to take the time to complete the survey as it serves as a tool to help policy makers in fully understanding the nuanced challenges firms are facing across the country and at a local level”

To access the survey, please click here.