Kent’s Quarterly Economic Survey Q2 2024
KENT & MEDWAY BUSINESSES: POSITIVE OUTLOOK IN A CHALLENGING CLIMATE
This quarter businesses remain positive about their turnover and profitability expectation despite a slowing down or slight decrease in progress of domestic and export demand compared to Q1 2024. The positive to note is that Manufacturing seems to be picking up a little on domestic demand, but export remains stagnant.
The pressures felt by business remain high, with inflation impact reducing significantly but remaining the main concern together with the impact of corporate taxation and competition increasing.
The cost of doing business remains a major issue for businesses, with price pressures felt by businesses around labour and utilities costs in particular. These issues, raised by our members and reflected in the QES data, are some of the key issues that the Chamber, through the British Chamber of Commerce, has been putting forward at Westminster with many elements being adopted within the new government’s manifesto. www.britishchambers.org.uk/policy-campaigns
As our political landscape changes and new policies are put in place it remains essential that as your Chamber of Commerce for Kent & Medway we remain committed to representing the views of local businesses and to raise the issues that are most important to you with local, regional and national stakeholders, so please share your views with us by taking part in future quarterly economic surveys.
TUDOR PRICE
Chief Executive
Kent Invicta Chamber of Commerce
