President's Column: Games can create a lasting legacy for business

The eyes of the world are on Birmingham over the next week-and-a-half - and it is a golden opportunity for us all, writes Dr Jason Wouhra.

We have 11 days of world-class sport, which will create a feelgood factor across the city-region.

And, with a million visitors expected to descend on Birmingham, we can expect a welcome boost for the visitor economy - especially those firms in hard-hit sectors such as hospitality and tourism.

But, for us as a business community, the real opportunity over the coming days is for us to harness new trade links with the Commonwealth.

This is our window to showcase Birmingham as the vibrant city we all know it is and, in turn, position it as a fertile place for trade and investment.

We can expect a big push from UK House on the trade front - and I 'm very much looking forward to speaking at an event on the Sustainability of Food and Drink this Friday, before welcoming a delegation from Commonwealth countries to my business, Lioncroft Wholesale.

I would encourage our members to get involved in as many events around the Games as they possibly can - and for businesses to make the most of this once-in-a-generation event.

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From a national perspective, the resignation of Boris Johnson and the subsequent Conservative Party leadership contest have dominated the news agenda.

While political instability does little to alleviate the concerns of businesses and households who are facing enormous cost pressures, the uncertainty caused by Brexit, Covid and previously leadership contests over the past few years has, in some respect, set us up to be more resilient.

However, that 's not to say the incoming Prime Minister can ignore the fact that businesses and individuals are really struggling.

Inflation pressures, for example, are affecting everybody in their day-to-day lives.

We expect to learn the identity of the new leader in the first week of September. Whoever emerges victorious must navigate major challenges such as inflation and recruitment difficulties.

We need the new Prime Minister to come in and address those concerns with a positive approach.

Dr Jason Wouhra is president of the Asian Business Chamber of Commerce