MILTON Keynes Chamber of Commerce has opened its Quarterly Economic Survey for Quarter 3 of 2020 and is encouraging businesses across the region, both members and non-members, to participate.
The Chamber’s previous survey for Quarter 2 of 2020 was the first of its kind to assess the impact of the Covid-19 lockdown and showed businesses across Milton Keynes were suffering in every available metric.
The Q2 results were in stark contrast to Q1, which revealed confidence among Milton Keynes’ firms, with a majority of respondents at the time expecting an increase in profitability over the next year.
At the time, the most common concern among respondents was the uncertainty of the UK’s trading relationship with the EU following the end of the Brexit transition period, which is something once again businesses are having to address as the December 31 deadline approaches.
The views and concerns of businesses recorded in the QES are taken into consideration by key local, regional and national policymakers. QES data is also used by the Bank of England, the Treasury and by international finance institutions to assess the UK’s economy.
Christopher Jones, policy executive of Milton Keynes Chamber of Commerce, said: “Our Quarter 2 survey showed business conditions at the worst level since our records began. Are things improving? It is vital that decision-makers have accurate information on the issues facing businesses.
“The QES has long been held in high regard by those in power and now, more than ever, it will inform decisions that could have a lasting impact on business recovery.”
The deadline for participation is September 14. To take part in the survey click here.
