Black Country Chamber Quarterly Economic Survey Q4 2022/23

The Black Country Chamber's Quarterly Economic Survey (QES) offers an up to date snapshot of the performance of the Black Country business community. The feedback gained through the survey is used both on a local and national level to influence and shape policy and strategies to better support and represent the regions business needs.

This survey should only take a few minutes to complete, information provided is submitted to the British Chambers of Commerce. Chamber Members may have completed this survey with their account managers. For more information visit our website here.

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* 1. Name of Organisation (optional):

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* 2. Including yourself, how many people do you employ in the Black Country?

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* 3. What is your main business activity?

Production of raw materials (e.g. agriculture, fishing, mining, utilities)

Manufacture of electronic or IT goods

Manufacture of other goods

Construction or engineering

Transport, logistics or storage

Retail or wholesale

Hospitality, catering, tourism or hotels

Professional services (e.g. finance, accounting, legal, surveying, IT support, consultancy, recruitment)

Marketing/media (e.g. marketing, PR, market research, advertising, media)

Consumer services (e.g. cleaning, decorating, plumbing, repairs, private leisure/education/health)

Public sector, education health, social work or voluntary sector services

Other services not listed above

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* 4. Excluding seasonal variations, over the past 3 months....

	Increased	Remained Constant	Decreased	N/A
UK sales/custom/bookings have...	UK sales/custom/bookings have... Increased	UK sales/custom/bookings have... Remained Constant	UK sales/custom/bookings have... Decreased	UK sales/custom/bookings have... N/A
UK orders/advance custom/bookings have...	UK orders/advance custom/bookings have... Increased	UK orders/advance custom/bookings have... Remained Constant	UK orders/advance custom/bookings have... Decreased	UK orders/advance custom/bookings have... N/A
Overseas sales/custom/bookings have...	Overseas sales/custom/bookings have... Increased	Overseas sales/custom/bookings have... Remained Constant	Overseas sales/custom/bookings have... Decreased	Overseas sales/custom/bookings have... N/A
Overseas orders/advance custom/bookings have	Overseas orders/advance custom/bookings have Increased	Overseas orders/advance custom/bookings have Remained Constant	Overseas orders/advance custom/bookings have Decreased	Overseas orders/advance custom/bookings have N/A

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* 5. Your workforce...

	Increased	Remained Constant	Decreased	N/A
Over the past 3 months, has your workforce...	Over the past 3 months, has your workforce... Increased	Over the past 3 months, has your workforce... Remained Constant	Over the past 3 months, has your workforce... Decreased	Over the past 3 months, has your workforce... N/A
Over the next 3 months, do you expect your workforce to...	Over the next 3 months, do you expect your workforce to... Increased	Over the next 3 months, do you expect your workforce to... Remained Constant	Over the next 3 months, do you expect your workforce to... Decreased	Over the next 3 months, do you expect your workforce to... N/A

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* 6. Have you tried to recruit staff over the past 3 months?

Yes

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* 7. If yes, were they for:

Part-time Jobs

Full-time Jobs

Temporary Jobs

Permanent Jobs

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* 8. Did you experience any difficulties finding suitable staff?

Yes

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* 9. If yes, for which of the following categories of employee:

Skilled / Technical

Professional and Managerial

Clerical

Semi / Unskilled

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* 10. Cash flow and Investment

	Increased	Remained Constant	Decreased
Over the past 3 months, cash flow has...	Over the past 3 months, cash flow has... Increased	Over the past 3 months, cash flow has... Remained Constant	Over the past 3 months, cash flow has... Decreased
Over the past 3 months, investment plans for plant/machinery/equipment have...	Over the past 3 months, investment plans for plant/machinery/equipment have... Increased	Over the past 3 months, investment plans for plant/machinery/equipment have... Remained Constant	Over the past 3 months, investment plans for plant/machinery/equipment have... Decreased
Over the past 3 months, investment plans for training have...	Over the past 3 months, investment plans for training have... Increased	Over the past 3 months, investment plans for training have... Remained Constant	Over the past 3 months, investment plans for training have... Decreased

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* 11. Business Confidence

	Improve	Remain the Same	Worsen
Over the next 12 months, do you believe turnover will...	Over the next 12 months, do you believe turnover will... Improve	Over the next 12 months, do you believe turnover will... Remain the Same	Over the next 12 months, do you believe turnover will... Worsen
Over the next 12 months, do you believe profitability will...	Over the next 12 months, do you believe profitability will... Improve	Over the next 12 months, do you believe profitability will... Remain the Same	Over the next 12 months, do you believe profitability will... Worsen

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* 12. Are you currently operating at:

Full Capacity

Below Capacity

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* 13. Over the next 3 months do you expect your prices to:

Increase

Remain Constant

Decrease

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* 14. Is your business suffering pressures to raise prices from any of the following:

Labour costs (e.g. Pay Settlements, Salaries Contractors)

Raw Material Prices (e.g. Steel, Cardboard, food)

Utilities (e.g. Gas, Electricity)

Fuel (e.g. Petrol, Diesel)

Finance Costs

Other Overheads

N/A

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* 15. Which of the following factors are more of a concern to your business than 3 months ago?

Interest Rates

Exchange Rates

Business Rates

Inflation

Competition

Taxation

N/A

The Black Country Chamber of Commerce is working in partnership with the West Midlands Combined Authority, the Coventry and Warwickshire Chamber of Commerce, and Greater Birmingham Chambers of Commerce to understand how businesses across the region have been impacted by the UK’s departure from the European Union (EU).

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* 16. What impact has the UK's departure from the EU had on the ease with which your business can do the following?

	Significantly more difficult	Slightly more difficult	No change	Slightly easier	Significantly easier
Import goods from the EU	Import goods from the EU Significantly more difficult	Import goods from the EU Slightly more difficult	Import goods from the EU No change	Import goods from the EU Slightly easier	Import goods from the EU Significantly easier
Export goods to the EU	Export goods to the EU Significantly more difficult	Export goods to the EU Slightly more difficult	Export goods to the EU No change	Export goods to the EU Slightly easier	Export goods to the EU Significantly easier
Move goods between GB and Northern Ireland	Move goods between GB and Northern Ireland Significantly more difficult	Move goods between GB and Northern Ireland Slightly more difficult	Move goods between GB and Northern Ireland No change	Move goods between GB and Northern Ireland Slightly easier	Move goods between GB and Northern Ireland Significantly easier
Provide services in the EU	Provide services in the EU Significantly more difficult	Provide services in the EU Slightly more difficult	Provide services in the EU No change	Provide services in the EU Slightly easier	Provide services in the EU Significantly easier
Purchase services from the EU	Purchase services from the EU Significantly more difficult	Purchase services from the EU Slightly more difficult	Purchase services from the EU No change	Purchase services from the EU Slightly easier	Purchase services from the EU Significantly easier
Recruiting workers from the EU	Recruiting workers from the EU Significantly more difficult	Recruiting workers from the EU Slightly more difficult	Recruiting workers from the EU No change	Recruiting workers from the EU Slightly easier	Recruiting workers from the EU Significantly easier

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* 17. What issues (if any) has your business encountered as a result of the UK's departure from the EU? (Please tick all that apply)

Increase costs

Lack of capacity and/or resources to deal with new requirements (e.g. paperwork)

Particular issues with sanitary and phytosanitary requirements on food or plant exports

Import VAT problems affecting EU customers

Definition of qualifying goods in the rules of origin for preferential tariff treatment under the TCA

Regulatory duplication costs, e.g. UK REACH and EU REACH on chemicals

Delays at border

Supply chain issues

Difficulty recruiting EU workers

Losing business to EU-based customers

Reduced demand from EU businesses for your products and services

No issues encountered

Not applicable

Other (please specify)

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* 18. What action(s), if any, has your business taken to address any issues you have encountered since the UK's departure from the EU (please tick all that apply)

Sourced new or additional suppliers

Switching to using UK-based suppliers

Diversified supply chain

Changed method of transportation used for moving goods between the UK and EU

Altered where goos are distributed from when selling products to EU customers

Set up an EU commercial entity for trading with customers in the EU

Passed on increased costs to customers

Absorbed increased costs

Stockpiled goods

Expanded in or entered non-EU markets

Moved or established business operations in the EU

Recruited staff from the UK

None of the above

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* 19. How has your business' activity with the EU been affected over the following time periods?

	Ceased trading with the EU	Significantly reduced activity	Slightly reduced activity	Maintained existing activity	Slightly increased activity	Significantly increased activity
Since the end of the transition period (January 2021 - to present)	Since the end of the transition period (January 2021 - to present) Ceased trading with the EU	Since the end of the transition period (January 2021 - to present) Significantly reduced activity	Since the end of the transition period (January 2021 - to present) Slightly reduced activity	Since the end of the transition period (January 2021 - to present) Maintained existing activity	Since the end of the transition period (January 2021 - to present) Slightly increased activity	Since the end of the transition period (January 2021 - to present) Significantly increased activity
Long term (between June 2016 and December 2020)	Long term (between June 2016 and December 2020) Ceased trading with the EU	Long term (between June 2016 and December 2020) Significantly reduced activity	Long term (between June 2016 and December 2020) Slightly reduced activity	Long term (between June 2016 and December 2020) Maintained existing activity	Long term (between June 2016 and December 2020) Slightly increased activity	Long term (between June 2016 and December 2020) Significantly increased activity

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* 20. How has your business' activity with the rest of the world (non-EU) changed since 2020 as a result of the UK's departure from the EU?

Significantly increased

Slightly increased

No change

Slightly reduced

Significantly reduced

Not applicable

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* 21. What are the challenges and/or opportunities on the horizon in 2023 for your business as a result of the UK leaving the EU?

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* 22. What support from regional and national stakeholders would be most beneficial to help your business trade with the EU?

100% of survey complete.