BCC Quarterly Economic Survey Q2 2020

A message from Ana Christie, CEO, Sussex Chambers of Commerce:

As you will know, throughout the pandemic, we have been providing continued support to businesses struggling to survive, to adapt, and to make the best decisions for themselves and their people, under extraordinary circumstances.

Here at Sussex Chamber we have supported hundreds of businesses, put on numerous informational webinars, gathered insights through survey work and we continue to provide essential updates, advice, services as well as business support.

Attached with this message you will find the recently published results of the Quarterly Economic Survey (QES) – the UK’s largest independent survey of business sentiment and a leading indicator of UK GDP growth – which found that UK economic conditions deteriorated at an unprecedented rate in the second quarter of 2020.

https://www.bhbpa.co.uk/wp-content/uploads/2020/07/Quarterly-Economic-Results-summary-report-Q2-2020.pdf

Key findings of the national survey included:

  • Eleven of the 14 key service sector QES indicators fall to their lowest level in the survey’s 31-year history
  • The percentage balance of firms reporting increased domestic and export sales is now substantially lower than the worst quarter of the 2008-09 recession
  • Indicators for longer-term business performance drop to record lows

 

Ahead of the expected economic statement, we are encouraging the Government to act decisively and ambitiously in taking the steps our business communities need now in order to ensure we can Restart, Rebuild and Renew. The British Chambers has submitted a number of proposals to Government and we would welcome a discussion on our local priorities.

 

Through the British Chambers, we recently submitted evidence to the government’s economic recovery working group on the ‘Levelling up’ agenda. It is clear from these discussions that as part of local recovery plans, Government is considering how it can work with business to strengthen local business networks and ecosystems.

 

On behalf of our business community, we call upon you to show your support for the chamber and its members (and through your members and connections) and encourage government to work with us to achieve our shared goal of levelling up and promoting business success across the UK. Our network can be a genuine local partner for government with proven capability to deliver that can really support local communities as they start to recover

 

I look forward to discussing how we can help our local area recover and prosper.

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