Record response boosts our business barometer

Feb 02, 2019

OUR latest Quarterly Economic Survey attracted one of the greatest number of respondents that we have ever had in Milton Keynes.

Which is fantastic news, as the regular independent business barometer forms part of the largest and most representative survey of its kind in the UK, feeding into national and international development of economic strategies and policies.

The Chamber represents over 450 Milton Keynes businesses and it’s imperative we seek their voice and issues so we can lobby and enact change on their behalf.

We had a 250% response rate increase in Q4 of 2018. The businesses that responded employ over 1,300 people across the borough.

This is, simply, brilliant. At a local level, the QES is an important source for us at the Chamber to review performance, concerns and views of the businesses trading in our area.

We then use this data when meeting with local MPs and council leaders to develop economic strategies and policies to promote and enhance growth and enterprise. The more companies that we get to fill in the survey, the more detailed picture of the local economy we are able to present.

At a national level, the QES is a leading economic indicator, often picking up big changes in the long before other surveys or official statistics.

The Bank of England’s Monetary Policy Committee use the QES as one of it’s key benchmarks when setting interest rates and HM Treasury and the OBR use the QES to put together their forecasts for the UK’s economic performance.

Now more than ever, with the uncertainly of Brexit, it’s critical that Chambers of Commerce act as the linchpin for the business community at a local level to ensure their views, specifically our members, are heard and represented throughout the corridors of power.

And that’s exactly what our representation service does. Milton Keynes Chamber of Commerce acts as your voice to the policy-makers. Representing the interests of our members – we push for legislation that will make your business life easier and stimulate growth, and challenge legislation that holds you back.

Our role is to explore and highlight issues that could and do hinder the continued economic growth, success and prosperity of Milton Keynes.

Need our help? Contact us at policy@chambermk.co.uk

The next QES, for Q2, goes live on 18 February. You don’t need to be a Chamber member to participate. Please fill it in at www.chambermk.co.uk/representation/quarterly-economic-surveys 

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