Growth in Greater Birmingham in focus at Chamber report launch
Growth across the Greater Birmingham region was the key talking point as Greater Birmingham Chambers of Commerce (GBCC) launched its Quarterly Business Report (QBR) for the fourth quarter yesterday, writes Feron Jayawardene.
The event - hosted by GBCC CEO Henrietta Brealey - was sponsored and held at Birmingham City University, with the participation of Chamber members and patrons.
The QBR offers an up-to-date snapshot of the performance of the Greater Birmingham business community It is the most comprehensive, regular report of its kind in the region.
Underpinning the report is data gathered from quarterly surveys on key indicators such as sales, exports, investment intentions and the workforce.
GBCC head of policy Raj Kandola briefed the audience about the latest findings. He said: “Progress has been made on alleviating the cost pressures businesses are currently facing but more needs to be done as we head into 2023.
“Businesses continue to experience the fallout from ill-fated Budget of last September - concerns over the impact of rising interest rates are the highest on record since the summer of 2002 are a pertinent example.
“Whilst it was good to see an ongoing level of support for all businesses, it 's clear that the Government are clearly betting on the recent fall in wholesale prices being passed on to businesses in the coming weeks.
“We all hope that they are right and ready to adapt their plans if they are not or if businesses face a further round of pressures next winter. ”
Speeches were also given by Jo Birch from Birmingham City University, Shilpi Akbar, head of Stakeholders and Communities at Balfour Beatty Vinci JV (BBV) and Simon Evans, head of corporate affairs and marketing at Birmingham Airport (BHX).
Shilpi Akbar spoke about driving employability across the region. She said: “We have employed over 7000 people at BBV and we expect this number to increase to 9000 over the next 18 months.
“Out of the employed, 9 per cent of staff are made up of early careers and emerging talents over our apprenticeship programs and from our graduate population as well.
“We also have a dedicated team to drive forward innovative practice and programs. So far, 900 ideas have been submitted with more than £100 million worth of savings. ”
Simon Evans spoke about the development of the Birmingham Airport after the lockdown. He said: “We lost £160 million out of our business during lockdown, but now we are profitable again and we have started to pay the debts we have incurred.
“We have now served our 10 millionth passenger of this fiscal year. Back in 2019, we have accommodated around 12 million passengers. Right now, we are doing operating around 90 per cent of our pre covid levels.
“At present, BHX is contributing to £1.5 billion to the economy while supporting 30,900 jobs. We are projecting to have a contribution of around £2.1 billion to the economy by 2033 with 34,400 jobs. Our plans also include achieving net zero carbon emissions by 2033. ”
Jo Birch from Birmingham City University said: “We are very passionate about innovation at BCU. We just invested £80 million at our Steamhouse complex and we look to bring collaborative communities together to see how you can look at new market opportunities for products to facilitate innovation.
“One of the key ingredients of innovation is collaborating and building new networks. Only 38 per cent of businesses are actively innovating, so there is a huge opportunity available.
Pictured from left to right: Simon Evans, head of corporate affairs and marketing at Birmingham Airport, Jo Birch from Birmingham City University, GBCC CEO Henrietta Brealey, Shilpi Akbar, head of Stakeholders and Communities at Balfour Beatty Vinci JV, and GBCC head of policy Raj Kandola.