News

New restart grants ‘extremely welcome’

The Coventry and Warwickshire Chamber of Commerce has welcomed new ‘restart’ grants for the firms hardest hit by Covid-19.

It was revealed at the weekend that a further £5bn is being made available to high street firms and the hospitality sector, with grants of up to £18,000 on offer to individual businesses.

Louise Bennett, chief executive of the Coventry and Warwickshire Chamber of Commerce, said it was crucial to get the money to businesses as quickly as possible – and that she had every confidence in the local authorities in the region to do that.

She said: “Businesses are desperate to get back to being able to trade again but for those that have, essentially, been dormant they are going to need help and these restart grants will be extremely welcome from that point of view.

“The key is getting the money to firms that need it as quickly as possible so they can avoid a cashflow cliff edge and, also, prepare themselves to get back to business.

“The local authorities in Coventry and Warwickshire have done an amazing job during the Covid-19 crisis in acting quickly and it’s vital that they do that once again to get this cash to those businesses that need it most.

“And, while we welcome this help from the Chancellor and acknowledge the unprecedented levels of support that have been offered during the crisis, it’s still crucial that he doesn’t try to recoup that money through increased business tax in this week’s Budget.

“We all understand that the money will need to be paid back at some point but it’s too early, with the economy still some way off reopening in full, to expect that of business.”

Dr Adam Marshall, Director General of the British Chambers of Commerce, said: “Chambers of Commerce have campaigned for additional grants to support the cash flow of our hardesthit businesses, particularly those who have faced severe restrictions or closure in recent months. We welcome the announcement of these additional cash grants, which will be a lifeline for many firms as they look to restart and rebuild over the challenging months ahead. The Government, devolved administrations and local authorities must now make sure that cash gets to the front line fast.

“While the announcement of additional grants is positive, a support plan that covers the rest of 2021 would really help to build business confidence. That means removing the immediate cliff edges on support by continuing the furlough scheme and VAT deferrals for as long as they are needed. Business rates relief for the hospitality, retail and leisure sectors should also continue until next year.

“Critically, the government needs to send the right signals to firms and investors by avoiding hasty rises in business taxation. The best way to raise money for the Exchequer will be to give companies the breathing space they need, as the economy reopens, to generate revenue and return to profit.”

Coventry and Warwickshire Chamber’s Group Commercial Director, Louise Wall, has been appointed as Chief Executive of the Northamptonshire & Milton Keynes Chambers of Commerce.

Over the last 12-months, in addition to her role at Coventry and Warwickshire Chamber of Commerce, Louise has acted as the Interim Chief Executive for Northamptonshire & Milton Keynes, steering both Chambers through an unprecedented time in terms of the economic and business landscape due to the COVID-19 pandemic.

Louise takes with her a wealth of experience across both the public and private sector. Prior to joining the Chamber of Commerce in 2014, Louise was Head of Sustainable Communities at Warwickshire County Council and had previously run her own successful private businesses.

Group Commercial Director set to take up Chief Executive role at Northamptonshire & Milton Keynes Chambers of Commerce

During her time at the Coventry and Warwickshire Chamber, working alongside Chief Executive Louise Bennett OBE DL, Louise oversaw the development and delivery of many key Chamber services a nd contracts, including International Trade, Business Support and Membership, as well as supporting the work of Coventry & Warwickshire Chamber Training.

The new role encompasses both the Northamptonshire and the Milton Keynes Chambers of Commerce which, whilst operating separately to serve the best interests of their local business communities, are led by a single Chief Executive and Senior Management Team.

Louise said: “I am excited by this new opportunity having acted as Chief Executive on an interim basis for almost a year, in what has been an incredibly uncertain period for businesses.

“I have thoroughly enjoyed my seven and a half years working with our members, the business community and partners across Coventry and Warwickshire.

“This is a new challenge and I’m looking forward to championing the member businesses across Northamptonshire and Milton Keynes, leading a passionate team and working with the Boards across both Chambers as we look to bounce back from the COVID-19 crisis.”

Louise Bennett OBE DL, Chief Executive of the Coventry and Warwickshire Chamber of Commerce, said: “Although a huge and sad loss to the Coventry and Warwickshire Chamber of Commerce, we are proud to be part of the UK Accredited Chamber Network that succession plans for the future in terms of supporting leadership and talent into our most senior and high-profile roles.

“We look forward to continuing a mutually supportive relationship, between our two leading Chambers, to the benefit of our Membership.”

Louise will remain in post at Coventry and Warwickshire until June 2021 and take up her new role from July.

Bank paints a positive picture for the future – but with potential risks

The Bank of England sees the post-Covid future for the economy as positive but with large doses of cautionary realism, businesses in Coventry and Warwickshire have heard.

The Coventry and Warwickshire Chamber of Commerce welcomed Graeme Chaplin, the Bank of England’s Agent in the West Midlands, onto a call with firms from a range of sectors from across the region.

Businesses – from manufacturing through to banking – gave Graeme their take on how they expect their own companies to emerge from the crisis once restrictions begin to be lifted.

That was following an update on where the Bank believes the economy may be heading, should the Government’s roadmap stay on course.

Graeme said: “The anticipation from the Bank of England is that UK economic activity is likely to recover strongly over 2021 towards pre-Covid levels. And the extension of the Government’s Job Retention Scheme is likely to soften any near-term rise in unemployment.

“However, risks remain on both the upside and on the downside.

“The outlook for the economy is unusually uncertain. It continues to depend on the evolution of the pandemic and measures taken to protect public health. And it depends on how households and businesses respond to those developments.”

He added: “It is always great to hear from business people on how they are finding the current climate, as that helps us to get a clearer picture of what is happening on the ground.”

Issues flagged by firms included the UK-EU trading relationship, rising transport costs and a shortage of raw materials.

Sean Rose, policy officer of the Coventry and Warwickshire Chamber of Commerce, added: “We are very grateful to Graeme Chaplin and the Bank of England for the update and it was great to give many of our members the chance to report back on how they are finding life in business on the back of the Budget, Brexit and the Government’s roadmap out of restrictions.”

Graeme Chaplin (Bank of England)

Unemployment expected to rise when furlough ends

Business leaders in Coventry and Warwickshire say firms will need further support to keep the unemployment rate down in the next few months, after another small drop in the rate was recorded.

The latest figures show that the unemployment rate dropped from five per cent to 4.9 per cent in the three months to February but that five million people remain in employment but on furlough.

Sean Rose, head of policy at the Coventry and Warwickshire Chamber of Commerce, said the Government must be ready to offer more support to ensure the rate doesn’t jump once the furlough scheme ends.

He said: “The latest unemployment figures show a small drop which is welcome but looking at the data from our most recent QES, there is concern among businesses around employment.

“The really big unknown is what is going to happen when the furlough scheme comes to an end and it’s vitally important that the Government stands ready to help businesses, who have faced the most incredibly difficult year.

“Cutting the costs of employment and helping people to develop new skills fit for the workplace of the future could be vital in keeping the unemployment rate down over the next few months.”

British Chambers of Commerce Head of Economics, Suren Thiru, said: “The latest data confirms that the UK labour market remains subdued. While there was a marginal fall in the unemployment rate, the squeeze on activity from ongoing restrictions helped drive a decline in payroll employment in March.

“Unemployment remains on course to peak towards the end of 2021, once the furlough scheme expires and those who stopped job hunting during the pandemic look to return to the workforce as restrictions ease.

“Although the furlough scheme will limit the peak in job losses, the longer-term structural unemployment caused by Covid-19, particularly among young people, may mean that the road back to pre-pandemic levels lags behind the wider economic recovery.

“Further action will be needed to support the labour market when the furlough scheme ends, including supporting businesses to recruit and retain staff through a temporary cut in employer national insurance contributions.”

Councillor Jim O’Boyle (left) with Keely Hancox

Independent businesses in Coventry are being offered free support to improve their online presence as the city prepares for UK City of Culture 2021.

Businesses in the retail, hospitality and tourism sector can benefit from the new programme of workshops and one-to-one support being delivered by Coventry and Warwickshire Chamber of Commerce on behalf of Coventry City Council, having been funded through the Council’s Additional Restrictions Grant support package for businesses.

The Chamber is working with digital and retail specialists Stories Marketing to deliver the programme which includes a one-hour taster session, two workshops and one-to-one support.

Businesses can benefit from advice and practical tips on digital marketing, low-cost online tools and social media, all with the aim of connecting more with their customers, increasing sales online,

Free help on offer to help improve digital skills

as well as driving footfall into their stores once they can fully reopen.

A similar project has proved to extremely successful with businesses in Warwickshire – and now independents in Coventry, both in the city centre, and neighbouring bricks and mortar businesses, will be able to access help to grow their online following, as well as their instore sales ahead of the economy reopening later this year.

Keely Hancox, operations manager of the Coventry and Warwickshire Chamber of Commerce, said: “We extremely pleased to be bringing this support to businesses in Coventry – particularly with UK City of Culture just a matter of weeks away.

“We’ve run similar projects in Warwickshire over the past 12 months and they have proved to be very popular, with many small businesses saying that the skills they learned helped them to survive the pandemic.

“It’s not just about selling online, however. The support offers businesses the chance to grow an online community, communicate with their customers, build their brand and demonstrate their individuality and uniqueness, all with the aim of driving sales both online and in store.

“Stories Marketing have proved to be a great partner in delivering the workshops. They are two friends born and bred in Coventry, with an extensive background in retail, having owned a series of stores around Coventry and Warwickshire.”

Councillor Jim O’Boyle cabinet member for jobs and regeneration said: “The last 12 months have been tough so I’m really pleased as we get ready to welcome people back to the city centre that we are able to partner with the Chamber to offer specialist support to small businesses, including independents.

“Online shopping is on the rise but if traders are to thrive they need to be able to successfully operate online and in store and that’s exactly what this support is all about.

“Of course we have been hard at work in the city centre – combining the best of the old and the best of the new and creating the kind of environment where people want to spend time and money supporting local businesses.”

To register your interest go to: https://www.eventbrite.co.uk/o/ coventry-digital-skills-32696072537

Greater flexibility around apprenticeships will benefit businesses

One of the leading apprenticeship providers in Coventry and Warwickshire will tell the Government that greater flexibility will benefit businesses across a range of sectors and could lead to more opportunities for apprentices.

Coventry and Warwickshire Chamber Training (CWCT) is responding to the Government’s consultation on flexible apprenticeships, which could potentially be on offer from as early as January 2022.

Sally Lucas, Executive Director of CWCT, said certain industries were crying out for flexibility when it comes to apprenticeships.

She said: “Flexible apprenticeships are plugging a hole in the system, particularly for some sectors where project-based employment is the norm.

“Industries, including creative and construction, have found it difficult to take advantage of apprenticeships which require a minimum of 12 months of employment typically with the same employer.

“The notion of a flexible apprenticeship means an apprentice can move from employer to employer for short focussed periods which enables them to gain the necessary experience but in a manner which reflects the nature of an industry.

“For example, you have creative industries where varied and flexible job roles are common place and a full year in one role just isn’t practical for an apprentice.

“If flexible apprenticeships come into force, employers will come together under an agency-type arrangement to facilitate the movement of apprentices within a sector across a number of short employment opportunities and, therefore, it levels the playing field for particular sectors that have previously found apprenticeships to be inaccessible.

“Anything that can add flexibility into apprenticeships has to be welcome and we will certainly be looking to work with those industries to move forward with flexible apprenticeships once they are given the green light.”

Sally Lucas, Executive Director of CWCT

Make the most of apprenticeship incentive

Businesses are being urged to make the most of new incentives around taking on apprentices, announced in the Chancellor’s Budget on Wednesday.

Chancellor Rishi Sunak delivered a three-part Budget aimed at helping firms survive the Covid crisis, start to fix the UK’s finances and then grow the economy.

Among the measures was support for apprenticeships and Sally Lucas, Executive Director of Coventry and Warwickshire Chamber Training (CWCT) said it was the perfect time for businesses and organisations to look at taking on an apprentice.

She said: “This is an opportunity for employers to take advantage of the increase in the value of incentives employers can claim for creating a new apprenticeship job opportunity. The Chancellor has raised that amount to £3,000 plus a further £1,000 if an apprentice is 16 to 18 or if they are under 25 with an education, care and health plan.

“It is available for new apprentice starts up to the end of September so I’d encourage employers to move quickly and get this set up with CWCT as soon as possible.”

Sally added: “Furthermore, there is an additional £126 million in England for high-quality work placements and training for 16 to 24-year-olds. Employers who provide work experience will receive £1,000 per placement offered which, again, is another great incentive.

“Helping our young people into employment is hugely important as we look to grow the economy as we come out of the crisis and these are great opportunities for businesses to make use of Government support to either take on an apprentice or offer a high-quality work placement.”

Economic recovery still a long way off

The Chamber says there is still a ‘long way to go’ before the economy recovers after national statistics showed a slight improvement in February.

GDP – the measure of economic output – grew by 0.4 per cent in February but the economy is still 7.8 per cent smaller than when the Covid-19 crisis began.

The figures, from the Office for National Statistics, also showed that exports to the EU from the UK had recovered after a steep drop in January but were still weaker than last year.

Sean Rose, policy officer at the Coventry and Warwickshire Chamber of Commerce, said: “This very slight improvement in GDP in February is positive news but there is still a long way to go before we can really start to talk about a full economic recovery from Covid-19.

“Restrictions are starting to be lifted but, even if the roadmap is followed as set out by the Prime Minister earlier in the year, there are still a couple of months of restrictions being in place which will be a drag on growth.

“Companies across Coventry and Warwickshire are looking forward to returning to being able to do business freely in the next few months and, even then, it’s unclear just how quickly the economy will recover due to a range of factors.

“It’s positive news for our exporters that trade picked up with the EU after the big fall in January but, again, it remains to be seen whether this will be the start of an ongoing uplift or if it was an inevitable bounce back after such a major drop.”

British Chambers of Commerce Head of Economics Suren Thiru, said: “The latest data confirms a modest return to growth in February. However, coming after a contraction in January, it does little to alter the prospect of a downbeat first quarter for the UK economy.

“The pick-up in output in February reflected a broad-based improvement in activity with all the main sectors recording an increase in growth. The clarity provided by February’s announcement of a roadmap for reopening also helped support output in the month.

“The release of pent-up demand following the easing of restrictions and the strong vaccine rollout will boost activity. However, hope of a sustained consumer-led revival may prove too optimistic as the economic scarring caused by Covid may trigger a renewed reluctance to spend as government support winds down.”

He added: “Although there was a rebound in UK goods exports with the EU, this may reflect an unwinding of a number of temporary factors that weighed on the January outturn, including the running down of pre-Brexit stockpiling, rather than evidence of an underlying improvement in UK-EU trade flows.

“Businesses continue to encounter significant disruption and difficulty with many firms reporting serious structural issues which, if not addressed, will weigh on UK economic prospects for some time to come.

“The UK and the EU must get back around the table to thrash out the remaining structural problems in the UK-EU trade deal and focus on long-term improvements to the flow of trade between them.”

Local venues ready to welcome you back

After a challenging year, the conference, meetings and events sector is now, more than ever, hopeful that face-to face meetings can safely resume. Coventry and Warwickshire is looking forward to welcoming events back to the region, in what will be a hugely momentous year for the region, as we gear-up to become the UK City of Culture 2021.

As the events sector is set to reopen, it is critical that face-to-face meetings can recommence in a safe and controlled manner for both the local and national economies. According to the UKCAMS 2020 report, the UK’s conference and meetings sector was worth £18 billion to the country’s economy, pre-COVID, proving how vital it is that this sector resumes quickly, but safely.

Locally, Coventry recorded over 10m visitors in 2019, and in economic terms, the visitor economy was worth £594m in 2019 – a 4.6 per cent increase on the previous year. This shows the real value that tourism has, not just locally, but on a national scale too, and this can only recover fully if business events can safely recommence.

Coventry and Warwickshire venues have been consistently adapting their spaces and ways of working, ensuring adherence to COVID-safe restrictions that have been put into place. Many venues, including the Ricoh Arena, the MTC and The Box at FarGo Village, have received their ‘We’re Good To Go’ COVID-19 industry standard and consumer mark accreditation. This will help reassure local residents and city visitors alike, that clear processes are in place and businesses are ready to open safely. The Coventry and Warwickshire MICE sector has been extremely resilient, and its venues have stayed in touch with the needs and wants of clients to ensure they can welcome back events to the region.

Another example of this great work comes from Warwick Conferences, who are now offering creative outdoor spaces for meetings and events, to ensure that social distancing in the fresh air can be maintained, whilst offering a unique and tranquil experience for delegates. This is just one of the great examples where Coventry and Warwickshire venues have shown a real desire to welcome and accommodate the needs of their clients and delegates, as a result of the sector now having to find new ways of working.

Coventry and Warwickshire is at the forefront of culture in the UK and are the UK City of Culture for 2021. This means that now is an extremely exciting time for the region, as we will safely welcome visitors into the city from May 2021. Coventry will be a top city visit destination for 2021 and 2022 and nowhere else in the country will have an opportunity like ours. Bringing a cultural, arts or creative event to Coventry and Warwickshire has never been more relevant, as delegates will be immersed in the city’s cultural celebrations and yearlong programme of events, whilst having the opportunity to host events at venues such as The Herbert Art Gallery and Coventry Cathedral. Our Convention Bureau team of experts can also help tailor an event’s specific needs and support with involvement in the City of Culture programme.

Coventry and Warwickshire prides itself on being a leader across many sectors, including advanced manufacturing, engineering, and intelligent mobility. These industries have been thriving in the region, even throughout this challenging time, and have put Coventry and Warwickshire on the map for events linked to these sectors. For example, plans to build an EV battery Gigafactory have been unveiled by Coventry City Council. This will prove vital for the continued success of the automotive industry, creating thousands of jobs and attracting up to £2 billion of investment. The region is the perfect destination for future automotive, engineering or manufacturing events, and has many suitable and relevant venues that can host them, such as the famous Coventry Transport Museum.

As the sector begins to reopen, venue suitability is one of the top three motivations for choosing an event location, according to VisitBritain’s Business Events Research, and Coventry and Warwickshire has a diverse array of venues similarly relevant to our sector strengths.

The Conference Coventry and Warwickshire Convention Bureau team can provide a free service to help create your event. The team can offer extensive local knowledge, venue finding and cost negotiation services, as well as social programming for delegates. For more information, please contact one of the team: • Cameron Innes - Conferencing and Business Events Officer:

Cameron.Innes@coventry.gov.uk • Zoe Anthony - Conferencing and

Business Events Officer:

Zoe.Anthony@coventry.gov.uk

Warwick Conferences gains Green Star for sustainability

In recognition of Warwick Conferences’ remarkable commitment to operating sustainably, the venue provider has been awarded the esteemed IACC Green Star forits eco-friendly efforts.

Achieving the prestigious Gold Tier status, Warwick Conferences has demonstrated its dedication to implementing green initiatives. The Green Star is a highly recognised accreditation awarded to venues which adhere to IACC’s Code of Sustainability to continually strive to act in a more economical way. Within the code there are 60 tenets that venues must adopt to reduce their carbon footprint and environmental impact, such as waste management, recycling and energy management. In its bid to continually improve its sustainable offering, Warwick Conferences has introduced a number of steps to minimise waste. It works with local food suppliers, for example, to reduce the distance travelled when ingredients are being delivered, minimising its carbon footprint.

Additionally, Warwick Conferences works alongside the University of Warwick to recycle 58% of all waste, with only 3% going to landfill due to the reduced usage of plastic and paper packaging within the venues. The company also invests in packaging that is environmentally friendly and completely compostable, with paper coffee cups no longer an option in the lounge areas. Commenting on achieving the Green Star, Warwick Conferences’ director Paul Bartlett said: “We pride ourselves on our continual development of key sustainability initiatives that are not only beneficial to us as a business and our customers, but to wider society too. Achieving IACC’s Green Star at Gold Tier level is testament to the team’s hard work in ensuring we are environmentally responsible as a business.”

For more information visit www.warwickconferences.com