• THE CHAMBER TEAM ARE STILL FULLY ACCESSIBLE VIA PHONE OR EMAIL, PLEASE GET IN CONTACT IF THERE IS ANYTHING WE CAN SUPPORT WITH OR IF YOU WOULD LIKE US TO INTRODUCE YOU TO A SPECIFIC BUSINESS THAT CAN HELP YOU. 

  • Quarterly Economic Survey (QES)

  • What is the QES? What is the QES?

    The QES is Britain’s largest independent business survey in the UK. It is a powerful tool for representing the voice of business to Government; the results are analysed and used by Cornwall Chamber of Commerce at a local level, and nationally through the British Chambers of Commerce.

    The QES is also used by:

    • The Bank of England’s Monetary Policy Committee uses the QES as one of its key benchmarks when setting interest rates.
    • HM Treasury and the independent Office for Budget Responsibility use the QES to put together their forecasts for the UK’s economic performance.
    • The European Commission uses the QES to assess the health of the UK economy when it makes policy recommendations for both Westminster and Brussels.
  • QES Q2 2020 QES Q2 2020

    The data from the Cornwall Chamber of Commerce QES is submitted to the British Chambers of Commerce contributing to the national survey. You can find the National report here. 

     

    Key findings in the Cornwall Chamber of Commerce Q2 2020 survey:

    • 14% are operating at full capacity, with 78% operating below capacity
    • Only 12% report an increase in UK Sales, with an overall net balance of -54%.
    • Nearly two thirds (65%) say their cashflow has worsened over the last 3 months. For 14% of businesses the cashflow has remained constant and 18% have seen an increase.
    • In terms of change to workforce, 10% say they have increased their workforce, and 26% have decreased. 53% had no change in their workforce.
    • 14% expect to increase workforce over the next quarter, but 26% predict a decrease. 49% expect their workforce to remain unchanged.
    • The proportion attempting to recruit drops to 18%. Of those, 53% have experienced difficulties recruiting the right people.
    • 78% of businesses have stated that they expect to change their working practices following the pandemic. 43% suggest that they will be implementing remote or flexible working.
    • The balance on expectation for change in turnover is -36% (i.e. those expecting an increase less those expecting a decrease). Expectation of profitability has a net balance of -44%.

    Full Results Report can be found here 

    Home | Bishop Fleming

    This Quarter Bishop Fleming, award winning Charted Accountants with an office in Truro sponsored two questions with in the Quarterly Economic Survey on business planning. You can find the report here 

  • QES Q1 2020 QES Q1 2020

    Quarter 1

    Headlines: 

    Business Confidence and Performance

    38% of businesses are operating at full capacity

    45% reported an increase in UK Sales 

    35% reported an increase in UK orders/advanced bookings

    64% are confident about their cash flow position, which has stayed the same (29%) or improved (35%);
    29% say cash flow has got worse.

    Market Pressures

    52% are experiencing pressure to raise prices

    68% reported external pressures

    Workforce and Recruitment 

    24% said they have increased workforce 13% have decreased 

    32% expect to increase workforce over the next quarter 

    Read the full report here

  • QES 2020 Fieldwork Timeline QES 2020 Fieldwork Timeline

    Make sure you are prepared to Have Your Say in the latest QES Survey. To the opportunity to influence policy, locally, nationally and even internationally. 

     

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