Looking to the future at Business West’s 2025 AGM
As the dust settles on last week’s Business West AGM, it’s clear that we are not only weathering the economic storms but actively driving long-term prosperity for businesses and our region. The event was a powerful reflection on transformation, resilience, and the enduring role of Business West as a convenor, enabler, and champion for businesses across the South West.
A farewell to Phil Smith – and a look ahead
Many of you may have seen the recent announcement of Phil Smith’s retirement in Spring 2026 after over three decades at the helm. His leadership has guided Business West through economic downturns, the Brexit process, the pandemic, and numerous policy transformations. Phil’s retrospective was both modest and inspiring, reminding attendees of Business West’s transformation from a conventional chamber of commerce to a multifaceted catalyst for growth, innovation, and international trade.
Driving innovation and international trade
Business West’s export documentation team continues to be a national leader, processing tens of thousands of documents annually and pioneering digital solutions. Our work with blockchain and AI in trade documentation is at the forefront of innovation in the space, and recent work has earned international recognition, including a runner-up spot at the World Chambers Congress in Melbourne for our world’s first digital carnet project.
Growing skills and preparing the workforce for the future
The Local Skills Improvement Plan (LSIP) has engaged over 600 companies to align training with real-world business needs, ensuring the workforce is future-ready. Business West has recently successfully bid to run the Somerset LSIP, expanding the good work that team is doing further across the West Country.
Supporting innovative businesses
Business West proudly delivers the Innovate UK Business Growth Service in the South West, playing a pivotal role in fostering regional economic development. Through strategic support and expert guidance, the service has supported over £217M in investment and an additional £115M in grand funding for South West businesses, maintaining over 12,000 jobs and the creation of an additional 7,000 in the region. The tangible impact of this initiative is evident in the strengthened competitiveness, resilience, and sustainability of numerous SMEs, thereby driving long-term prosperity and economic vitality across the South West.
Futures West and the power of place-based strategy
Phil also spotlighted the work undertaken by Futures West. Initiated by Business West, Futures West is a collaboration between businesses and leading universities to drive long-term change for the benefit of the Wider West of England Region. In partnership with the Brunel Centre and the South West Productivity Institute, Futures West will promote evidence-based insights to attract investors and inform policy makers.
Guest speaker: Michael Hayman on resilience in a polarised world
Michael Hayman MBE DL, chair BPI (UK) and co-founder Seven Hills BPI and recently appointed non-exec director at the British Chambers of Commerce (subject to approval by members at their October AGM), delivered a compelling keynote on the critical importance of brand resilience in today’s increasingly fragmented and fast-evolving media landscape. Drawing from his extensive experience, Hayman stressed that in an information-rich, but trust-scarce, environment, businesses must prioritise building genuine connections with their audiences. He emphasised that trust is fragile and challenging to restore once compromised.
To thrive, Hayman argued that organisations must lead with purpose, clarity, and authenticity. Businesses anchored in strong values and a clear mission foster trust and loyalty among stakeholders. Authentic communication strengthens brand credibility and differentiates companies.
Hayman’s insights extended to practical strategies in campaigning, digital storytelling, and stakeholder engagement. He offered a roadmap for businesses navigating modern media, illustrating how thoughtful, consistent messaging reinforces brand integrity. By leveraging authentic narratives and engaging meaningfully with diverse audiences, businesses can withstand uncertainty and emerge stronger.
Final thoughts
Our 2025 AGM served as a comprehensive review and a thoughtful reflection on the path ahead. As Business West prepares for a transition in leadership, we stand on a strong foundation with a clear, strategic vision for regional growth. Building on our 200-year legacy, we are well-positioned to continue making a meaningful contribution to the South West’s economy. Through facilitating international trade, enhancing local skills, and fostering strategic investments, Business West will maintain its role as an influential partner in the region's ongoing development.