Growth Problem Remains As The Year Ends
Business West is an accredited member of the British Chambers of Commerce(BCC). Here the Head of Research at BCC, David Bharier, responds to the latest GDP data from the ONS:
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Business West is an accredited member of the British Chambers of Commerce(BCC). Here the Head of Research at BCC, David Bharier, responds to the latest GDP data from the ONS:
Last Wednesday, it was our quarterly Bristol Initiative meeting, where 100 business leaders gathered to listen to a range of speakers, including Metro Mayor, Dan Norris, discuss the challenges and opportunities facing our city.
Members were recently treated to a privileged, behind the scenes tour of the University of Bath’s amazing Institute of Advanced Automotive Propulsion Systems (IAAPS) at the Science Park at Emerson’s Green.
Dr Justin Morris, Chief Executive of Bristol Zoological Society, has said “community and green growth” will be his focus as President of Business West’s Bristol Chamber & Initiative.
The #ShopLocal campaign is working. In the last few years, a massive 60% of British consumers have said they’d like to actively start buying more from local businesses, marking a huge jump from the 40% recorded in previous studies.
We will always need skilled people; it’s essential to ensure our workforce can keep obtaining new skills as requirements shift with the introduction of new technology, and the Local Skills Improvement Plans (LSIPs) are supercharging the direction of travel for this – gathering the evidence to provide more effective provision.
This morning, Business West was pleased to welcome Elizabeth Bowes, the Deputy High Commissioner of Australia, and Zinat Hoque, Economic Policy Officer, at our Leigh Court HQ. The primary focus of this visit was to delve into the intricacies and opportunities presented by the UK/Australia Free Trade Agreement (FTA). During this meeting, discussions centred on how the UK/Australia FTA can be a catalyst for growth and prosperity for exporters working with Business West, as well as highlighting the inward investment opportunities present in the South West, together with Australia’s appetite for investment. Both Ms. Bowes and Ms. Hoque shared valuable insights into the agreement, highlighting its potential to open new markets, enhance economic cooperation and increase investment between the UK and Australia.
The British Chambers of Commerce (BCC), of which Business West is a key member, has marginally upgraded its 2023 and 2024 GDP forecast but lowered the outlook for 2025, as economic growth for all three years flatlines.
Councils and business have often not been compatible bedfellows.