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East Midlands Chamber News

Tariffs pose risk to business, warns Chamber


Businesses exposed to tariffs are most at risk from a no-deal Brexit, says Scott Knowles, Chief Executive at the Chamber, in the latest in a series of advisory videos.


Manufacturers relying on imported raw materials are potentially facing the greatest risk, he says in the video, published on this website and citing the results of the third Quarterly Economic Survey of the Year.


The survey showed continuing strength in domestic markets but a downturn in overseas sales and investment, with Brexit cited as the main cause for ongoing uncertainty.


“What businesses are telling us is, whatever their views on Brexit, they want a cohesive approach from Government, a pragmatic approach, where the details are disseminated to business as soon as possible to allow them to make informed decisions rather than planning for multiple scenarios,” Scott says in the video.


He urges businesses to view and act on the Brexit Checklist available on the Chamber website (https://bit.ly/2nZoZ9f), which lists the minimum they should be doing now to prepare for the UK’s departure from the EU.


Businesses are also being urged to take part in the fourth Quarterly Economic Survey, which closes on 27 November and, in addition to the usual questions about business performance and plans, asks about corporate social responsibility (CSR) activities.


When the survey launched earlier this month, Chris Hobson, Director of Policy at the Chamber, said: “There is no doubt that understanding around the value of CSR – to both local communities and the business involved – is growing and, as a result, more firms are getting involved. What we want to know is how much things are changing.


“The results will help shape the Chamber’s activities in this area for the foreseeable future.”


The Chamber’s Quarterly Economic Surveys this year are being sponsored by the University of Leicester School of Business.


Professor Paul Baines, Associate Dean (External Relations), University of Leicester School of Business, said at the launch of the fourth QES: “CSR is increasingly seen as important, not just for big business but also for small and mid-market companies. The results of this and future surveys will help guide entrepreneurs to do 'good' and, thereby, more sustainable business in our region.”


To take part in the Quarterly Economic Survey, visit https://bit.ly/2F5HX9j. The survey is live until 27 November.


The video can be seen here https://bit.ly/2RYJHmo.