The impact of the referendum on Sheffield City Region businesses was debated at the latest Quarterly Economic Survey Event run by the Sheffield City Region’s four Chambers of Commerce, Local Enterprise Partnership and sponsored by RBS South Yorkshire and North Derbyshire. It highlighted there is a great deal of business uncertainty, resulting in calls for stability, clarity and action.
The Chambers listened to the comments raised by businesses and plan to respond in the Q3 Quarterly Economic Survey by questioning local companies further on the issues that concern them the most. The latest survey launched today.
Andrew Denniff, chief executive of Barnsley & Rotherham Chamber of Commerce, said: “Immediately following the UK’s decision to leave the European Union, business leaders aired some concerns about the uncertainty of financial markets, exports and future prosperity. Naturally, we have an unknown journey ahead as we proceed with Brexit.
Businesses across the region however are resolving to look upon the decision as an opportunity; an opportunity to draw investment and export goods and services. Recent indications show exports are up in Barnsley and Rotherham, and it’s a trend that is growing across Sheffield City Region right now.
Challenges may lie ahead, but businesses across Sheffield City Region have always been resilient and have a determination to succeed. What is really important right now is local businesses maintaining their confidence and drive growth in the regional economy.”
As an extra incentive for businesses in the Sheffield City Region to take the survey, all respondents will be entered into a free prize draw to win a pair of flights to Berlin, courtesy of Doncaster Sheffield Airport.
As well as completing the survey, all businesses are invited to attend the free Quarterly Economic Survey Breakfast on 7th October to network with other regional businesses, and hear the analysis of the Q3 results.
The Quarterly Economic Survey, run by the British Chambers, is the country’s biggest and longest- running private sector survey. It acts as an economic indicator and often highlights underlying trends in the economy long before other surveys or other official statistics pick them up. The survey is sponsored in the Sheffield City region by RBS South Yorkshire and North Derbyshire.
The Bank of England’s Monetary Policy Committee uses the QES as a key benchmark when setting interest rates.