Neil Murray, the interim chief executive at the Belgrade Theatre, gave an update on the arts and culture sector and also showcased the venue’s unique meeting space offer to the gathered businesses.
Steve Harcourt, director of Prime Accountants Group – the Chamber’s QES partner - then joined a panel consisting of Carol Thomas, Principal and CEO of Coventry College, Sarah Windrum, Future Mobility Cluster Lead at HORIBA MIRA, and Adam Dent, representing PR firm PLMR Advent.
Steve said: “The QES is a key indicator of how the local economy is performing, and the results reflect what we’re hearing from businesses.
“We’re seeing construction companies being significantly affected by interest rate rises, with many projects slowing down. We may be looking at a downturn in the next six months in that sector.
“But there are success stories too, for example within the manufacturing sector which is showing greater confidence than expected.
“There are also opportunities out there with the ongoing drive to digitise tax across businesses by 2030, and should make it easier for firms across the region to stay compliant and focus more on growing their businesses.”
Carol added: “Upskilling the current and future workforce is a crucial role of our college to help make the region more competitive, but we could do with more clarity from the Government.
“Changes to qualifications such as T-Levels, the Government’s U-turn on electric vehicles and no sense of urgency regarding mandatory energy efficient measures in construction, has meant we have invested in courses that are no longer as urgent as they once were.
“If we are to teach the population the skills they need to thrive in the future, we need a firm decision on what the future is going to look like.”
And Sarah added: “There are three things holding back the electric vehicle industry at the moment – access to capital, inflation, and a lack of an industrial strategy.
“The UK is facing stiff competition from the likes of the USA, Germany, France, and Korea, who have clear industrial strategies that encourage investment.
“Our manufacturing supply chains in Coventry & Warwickshire are strong, but we need that certainty from the Government to convince investors to back the sector here.”
Sean Rose, Head of Policy at the Coventry & Warwickshire Chamber of Commerce, hosted the event.
He said: “Our QES results paint an important picture of the economy in our region, but it’s discussion with businesses that really shed light on what’s happening on the ground.
“The discussion at the Belgrade confirmed it’s still a mixed picture for Coventry and Warwickshire, and it has provided us with extra context to feed back to senior decision makers.”
