New Chamber report calls for more sector-specific support

New sector-specific support for the hardest-hit industries and reforming the business rates system to free up cash for businesses are among a number of recommendations to government in a new report published by Greater Birmingham Chambers of Commerce today.

Keep Business Moving II - produced in consultation with Chamber Council - sets out areas of Covid-19 business support which require urgent action.

Building on the findings of the Back Our Businesses document released in January, Keep Business Moving II identifies a number of gaps in existing support packages and sets out a series of recommendations in order to alleviate those issues.

Recommendations include:

• Make sector specific interventions to support those industries such as live events and aviation that have received relatively little financial support
• Ease the crippling cash burdens that businesses across the country are facing right now in order to free up much needed cash by exploring the possibility of reforming the business rates system and also making it much easier for businesses to invest in their people and products
• Widen support mechanisms for those currently excluded from existing measures such as Limited Company Directors and those significantly impacted supply chain companies
• Bring forward enhanced grant support for the most impacted 'closed ' businesses with high overheads
• Offer full clarity on how they will assess their four tests for reopening the economy and provide regular updates on progress in between steps to help business plan ahead

Henrietta Brealey (pictured), CEO of Greater Birmingham Chambers of Commerce, said: “We saw real positivity from those businesses able to reopen their doors yesterday. However, the pandemic is not over yet.

“There are still many businesses in the hardest hit sectors that have not been able to operate fully or at all, in over a year and despite the unprecedented nature of support provided by the Government to date, a number of worrying gaps remain in play as our latest report sets out.

“There was much to commend at the recent Budget, but the Government needs to go further and ensure they are doing everything in their power to give businesses the framework of support they need to get through this crisis and hopefully emerge on the other side.

“The Chamber will continue to stand side by side with our members by championing, celebrating and promoting them as impacted businesses reopen at each stage of the roadmap and as always, fight their corner. ”

Keep Business Moving II includes case studies and quotes from several Chamber members including Marija Ezren, co-founder at Solutions 2, Tracey Stephenson, co-founder at Staying Cool and Erica Love, director at Culture Central.

Head of policy Raj Kandola said: “Research from our latest Quarterly Business Report revealed that businesses feel much more confident about their long term prospects than they did at the start of the year - no doubt buoyed by the PM 's roadmap to recovery and the successful roll out of the vaccine.

“However, by contrast, the majority of local firms have seen their cash flow position worsen over the same period and concerns over levels of taxation have grown - once again, this underlines the need for Government to intervene and act quickly.

“We urge policymakers at Westminster to do the right thing and implement the changes we 've recommended in this report otherwise output and employment levels are likely to take a drastic hit in a region which has already been knocked sideways by the pandemic. ”

To access Keep Business Moving II click here.

To find out more about the various support mechanisms the government has introduced for businesses, click here to access the GBCC 's Covid-19 Support Grid.

Click here to access our latest Quarterly Business Report.