Businesses Help Drive The UK Away From Recession

10th May 2024

Reacting to the latest GDP figures, David Bharier, Head of Research at the British Chambers of Commerce, said:

“Today's Q1 GDP first estimate of 0.6%, outstripping expectations, is a welcome sign that the UK has moved away from last year’s shallow recession. Businesses across the UK have been the driving force behind the recovery. 

“Firms have shown resilience in the face of multiple headwinds and this estimate should give business and investor confidence a boost. 

“However, significant challenges remain. The UK has seen waves of economic and political uncertainty in recent years, from inflation to skills shortages and trade barriers with the EU, which have weighed down on its growth potential. Our latest surveys show that most SMEs are still not increasing investment. 

“With signals from the Bank that their next move will be an interest rate cut, it is now essential that policymakers show businesses a clear plan for growth to unlock their economic potential.” 

You might also be interested in

Asia-Pacific Trade Bloc Deal ‘A Boost For Business’

Fri 17th May 2024

William Bain, Head of Trade Policy at the BCC reacts to the UK’s ratification of the deal to join the Comprehensive and Progressive agreement for Trans-Pacific Partnership (CPTPP)

Savills Barbers opens in Heart of the City

Thu 16th May 2024

Savills Barbers, Sheffield’s celebrated men’s grooming brand, opened its industry-leading barber shop on Pinstone Street in the city centre this week.

Freeths advises FTS Recovery on the sale of Roksanda to The Brand Group

Thu 16th May 2024

National law firm Freeths has advised FTS Recovery Limited in relation to the appointment of Marco Piacquadio and Alan Coleman as joint administrators of RBDM Limited

Pricecheck Reports Strongest Financial Year

Thu 16th May 2024

Sheffield-based brand distributor, Pricecheck, has reported a record-breaking year, quarter and month for company revenue, all in the same week.