Welcome to the Essex Chambers of Commerce 2022 Q1 Quarterly Economic Survey.

28
Mar

Welcome to the first edition of the Essex Chambers of Commerce very own Quarterly Economic Survey, offering an up-to-date snapshot of the performance of the Essex business community. In order to channel our Policy Work in the right and priority areas for local businesses, it is so important to understand our members’ views on current business issues and challenges. Through our constant dialogue with the British Chambers of Commerce and the government, we are then able to ensure that those views are heard.

Summarising the Essex QES Q1 results indicate that conditions are not improving for most businesses, against the backdrop of the war in Ukraine and the effects it has had in exacerbating the cost of doing business crisis, it appears that COVID-19 is now cast away in the shadow! Quite understandably, the focus of the Spring Statement has been on supporting individuals and families manage the cost of living and while some measures have been positive news for businesses, the Chancellor warns that the economic uncertainty we’re currently facing will only get worse before it gets better. 

Key Points:

  • Domestic sales activity holds up as domestic re-opening continues;
    ing causes: spiralling energy costs, raw material costs, wages, supply chain disruption, geo-political tensions  
  • However, indicators for structural business conditions (export sales, cash flow and investment) continue to show no signs of recovery and have in fact worsen slightly;
  • The percentage of firms facing recruitment difficulties remain at record highs;
  • Inflation is by far and away the top factor of concern, with the percentage of firms expecting their prices to increase reaching new highs
  • Underly

I would like to thank all those members who participated in the survey. Your voice matters and your contribution will genuinely make a difference. We know that the demands on your time are huge, but please help us continue to campaign for the business environment your organisation needs to thrive in and make a positive difference in a very uncertain world we live in. Read the full article here: Essex Chambers of Commerce QES Q1 2022.

Christine Bhatt
Director of Policy, Essex Chambers of Commerce
 

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