"The QES is a crucial piece of research at the best of times but now, more than ever, it will give us a real insight into the way companies are coping with the crisis and how they are planning for rest"
Louise Bennett, CW Chamber
Firms in Coventry and Warwickshire can get a message to Government on how they are coping with the Coronavirus crisis through a major business survey.
The Coventry and Warwickshire Chamber of Commerce is carrying out its latest Quarterly Economic Survey (QES) which acts as a barometer for the regional economy and feeds into the British Chambers of Commerce’s (BCC) national survey.
The latest QES will provide the most up-to-date gauge of how companies across the service and manufacturing sectors are dealing with the current crisis and what their plans are for the coming weeks and months.
Louise Bennett, chief executive of the Coventry and Warwickshire Chamber of Commerce, said: “The QES is a crucial piece of research at the best of times but now, more than ever, it will give us a real insight into the way companies are coping with the crisis and how they are planning for restart and recovery.
“We hear from lots of companies anecdotally and have been feeding into the BCC’s Coronavirus Tracker so, of course, we have a strong feel for the sentiment among firms.
“But this is a chance for businesses to add real weight to our voice by taking part in this QES so it really reflects what companies across our patch are feeling.
“There is no doubt we are heading for a recession – we are already in the midst of it – and this survey will give us some tangible evidence of how quickly we might emerge from that and what help will be needed to do so.”
Steve Harcourt, of Prime Accountants Group – the Chamber’s QES partner, said: “It is an extremely challenging time for all businesses in our region, however we are proud to be partnered with Coventry and Warwickshire Chamber of Commerce in order to gather this vital information on how companies are managing, adapting and diversifying in the current crisis.
“No business would have been immune to the impact of Coronavirus, and it is now more important than ever to take a few minutes and complete the QES so you can have your voices heard.
“By completing the QES we can accurately assess how businesses have coped during this lockdown period and what their business plans are for the coming months. Then the Chamber will be able to report in to the economic policy makers, who will use the data to support business as we continue through the economic downturn.
“What has become apparent through this crisis is that businesses in Coventry and Warwickshire are resilient. We are seeing all stakeholders in a business working together to help protect and support each other through this unprecedented period.”
To take part in the survey, go to https://www.surveymonkey.co.uk/r/CWChamber
The QES is the largest independent business survey in the UK. It is the first economic indicator of the quarter, published in advance of official figures and other private surveys, and it consistently mirrors trends in official data. For this reason the survey is closely watched by policymakers such as the Treasury, the Bank of England, the Office of Budget Responsibility, the EU Commission and the IMF.