There’s no denying it – the political and economic uncertainty of the past few years has contributed to challenging conditions for businesses, as multiple crises have converged.
In fact, without playing the doomsayer (and there’s no need to – there are plenty of positives to report, as we show later on), the Quarterly Economic Survey (QES) for Q4 2023 shows that most companies continue to report no improvement to sales, cash flow or investment.
This is the largest private sector survey of business sentiment, and is carried out by the British Chambers of Commerce (BCC) thanks to the participation of regional Chambers like Bedfordshire – so the Chancellor will certainly be taking it into account when he delivers his Spring Budget on March 6.
But it’s just one example of the instruments that we at the Chamber use to influence UK Government thinking and policy, to help them make decisions that mitigate the effects of global factors, address local and regional issues and opportunities, and generally fight your corner.
Here are some examples of the other lobbying activities we’re involved in, the rationale behind them, and the outcomes we’ll be pushing hard to attain for local businesses like yours.
The Future of the Economy Inquiry
Let’s look first at this initiative, launched at the BCC global annual conference last year. In it, the collective Chambers enabled the BCC to weigh in on critical business themes in advance of the Spring Budget.
These included the skills and labour shortages, support for small businesses, the challenges around recruiting and maintaining planning resource in local authorities to accelerate the construction of new business premises, and the importance of keeping UK PLC an attractive economy for businesses and tourists from across the globe.
By proposing plans to increase construction to support business growth, develop a consistent, long-term skills plan, devise a fairer tax system, and reverse the damaging decision to discontinue UK tax-free shopping, the inquiry has enabled us both to confront Government with the consequences of its actions and demonstrate a way forward.
Strengthening connections to government
The essence of effective lobbying is connection to the decision-makers who matter – and creating new forums to expand and strengthen those connections is key.
September 2023 saw the creation of the Business Council to achieve exactly this – and the connections came thick and fast.
The first meeting was joined by the Rt Hon Michael Gove MP, Secretary of State for Levelling Up, and Rachel Reeves MP, Shadow Chancellor of the Exchequer. The second meeting, held in December, was attended by the Rt Hon Mel Stride MP, Secretary of State for Work and Pensions, and Liz Kendall MP, Shadow Secretary of State for Work and Pensions.
Current Business Council members include BP, Heathrow, Intuit, NatWest and the Open University, amongst others – big names that endorse the Chambers’ ability to influence the thinking in high places.
Not just lobbying, but winning
Needless to say, the Chambers’ lobbying activities are extensive and varied, and between October and December 2023 alone, Chamber representatives had seven meetings with Government ministers and Secretaries of State, eight meetings with MPs, and attended no less than 157 policy group meetings or briefings.
But, as ever in business, whilst effort is to be applauded, it’s ultimately the outcome that counts – and here, too, our lobbying has left its mark.
The Chamber network policy wins recently include, amongst others:
- The creation of an adjustment costs fund to benefit firms involved in Windsor Framework compliance.
- Instrumenting a European Commission proposal to extend the application of current rules of origin on electric vehicles until January 2027, favouring the UK’s EV industry.
- Full expensing made permanent, enabling many firms to significantly reduce their tax liability.
- UK government agreement to create a more beneficial UK Carbon Border Adjustment Mechanism to apply from 2027.
In the network’s quarterly performance report, we call all these activities and achievements ‘Voice’ – and that’s precisely what they are. By becoming a Bedfordshire Chamber of Commerce member, you get to express your views on all the things that are important to your business, your people and your community, we get to take them to BCC, and through BCC we get to argue the case at the top table in Westminster. It’s a voice we’re proud to shout about.
There’s optimism afoot
Earlier, we mentioned the many macroeconomic and geopolitical challenges that are impacting businesses currently, and how these, together with other issues, are reflected in the QES.
Addressing these hurdles head-on is, of course, critical – but we mustn’t ignore the green shoots of recovery and innovation pushing up through the earth.
The latest QES reports that business confidence improved in Q4 last year. A sentiment that has continued to grow in 2024, as reported in our own conversations with local businesses, both start-ups and more established players this year, where it has emerged that many of them are ahead of where they thought they would be on financial performance at this point.
The opportunities, as well as the challenges, are out there. Lobbying enables us to repeatedly bring both within earshot of those in Government who are paid to listen.
For more information on how we influence the Government’s agenda to benefit businesses like yours, or to become a Chamber member if you’re not one already, just call our friendly team on 01582 522448 or visit www.chamber-business.com
Justin Richardson
CEO Bedfordshire Chamber of Commerce
