Hampshire Chamber of Commerce The South East Economy after Brexit Reasons to be cheerful

Reasons to be cheerful, one, two, three’ ‘Summer, Buddy Holly, the working folly Good golly, Miss Molly and boats….. Reasons to be cheerful, one, two, three’ © Peermusic Publishing, Warner/Chappell Music, Inc.

I am Ross McNally, Executive Chair of Hampshire Chamber of Commerce Where do we start? Hampshire Chamber of Commerce behaves like a social enterprise helping 2000 plus businesses……..but in essence all businesses behave as social enterprises.

It’s just a matter of emphasis © Rolfe Larson Associates

Enterprise Our members are enterprising by nature. Entrepreneurs are agile and adaptable; see problems as opportunities; need backing. Brexit is just such an opportunity. And most businesses are seeing it as such. Of 642 large corporates surveyed in UK 67% of firms expect to see increase in employees following Brexit and only 12% a decrease (FTI Consulting/Dec 2017).

Growth In our recent survey of Hampshire businesses 68% of respondents told us they would be developing new products in next two years. Of those planning to hire new staff, three-quarters identified new roles or growth areas as reason. Expansionist mood expressed in marine and maritime, aeronautics, advanced manufacturing and digital capability – key sectors. Business strengths and needs identified directly reflect the priorities of the industrial strategy. Seeing record levels of employment in the UK and still very many vacancies. Manufacturing growth running at 3% partly fuelled by the devaluation of sterling.

Trade Year to September 2017 UK trade in goods exports increased by 16 per cent and imports by 12 per cent. 20% of members export and three quarters of them are growing their export markets. Not waiting for new free trade agreements, businesses are winning new relationships. All major economies are doing well around the world. China, US, EU and beyond…

How to back businesses One - Skills: Higher level skills are needed in every region. New commitment to technical education and skills Addressing skills gap at all levels Building a lifelong partnership in continuous training and development.

How to back businesses Two - Infrastructure: Ageing infrastructure. Investment needed in transport links and South and South East has unfinished business in modern connectivity. Southern Powerhouse needs recognition. Serious funding, is needed on road, rail, housing, digital communications and employment land; not 10-year but 30-year vision. Addressing labour mobility developing a fluid corridor of innovation, growth and technology.

How to back businesses Three - Support: Back the LEPs in building necessary support to create jobs, growth and productivity. Create pragmatic engagement between businesses and knowledge centres Access to finance is more than alternative finance; banks need to step up. Business advice unnecessarily bureaucratic. The myths of productivity – make it business centric not sector centric. Avoid misguided mistakes of picking the winners.

How to back businesses It’s really simple: With a focus on skills, modern infrastructure, accessible business advice and partnerships around finance, businesses will do the rest because they have to, this is their purpose. Back them in creating good jobs and prosperous communities. Thank you!