EU referendum decision is about economy, not politics, says Chamber

10th March 2016

Businesses should think about maximising long term regional economic growth when making decisions about the EU Referendum, according to the leader of the Sheffield Chamber of Commerce.

Richard Wright, executive director at the Sheffield Chamber, has spoken out following the launch of the Quarterly Economic Survey (QES) -sponsored by RBS South Yorkshire & North Derbyshire - which focuses heavily on the EU Referendum and its impact on businesses. His comments come as the Chamber announces it will hold a flagship event on 12 April with the Sheffield City Region Local Enterprise Partnership (LEP) and Sheffield University Management School to share the QES results and discuss the up and coming EU Referendum vote in June. The Quarterly Economic Survey Breakfast will feature economic arguments for and against Europe, relating these arguments to the local economy to give businesses a greater understanding of the decision as to which way they will vote. Mr Wright said: -This is a year of big decisions for the economy, on a local, regional and national level we have the devolution deal, HS2 station location and now the EU Referendum. -Listening to the debate you might think that staying in or leaving the EU is a political decision, but it's not. It's ultimately about the economy. But we need to ask how many of us in the business world truly understand the economic realities of the decision and its long term effect on our local and national economy. -As business organisations we need the best decisions that maximise regional economic growth and underpin a successful future for our businesses and the regional population. -Our event will allow the local business community to listen to the arguments on both sides and try to relate those to the local economy. From this, we hope people will leave better informed and in a position to make the right choice at the referendum. The British Chambers of Commerce QES is the largest and most representative independent business survey of its kind in the UK. Businesses are questioned on a wide range of issues, including: home sales and orders, export sales and orders, employment prospects, investment, recruitment difficulties, cashflow, confidence and price pressures. The latest QES survey, which launched last month in partnership with the Sheffield City Region LEP, the region's four Chambers and the University of Sheffield Management School, will help give a mandate to the LEP's and Chambers' lobbying work with local, regional and national Government and decision makers to help shape the region's economic strategy and business support structure. Mr Wright added: -We hope businesses will take the time to complete the latest QES. For us to know what areas we, as a region, need to lobby on for our businesses, we need to know how the local economy is doing and whether their strategy is working. -Whether it is international trade, recruitment, skills or manufacturing, there is something in the survey that affects all business and it is their opportunity to flag up any issues of concern. To take part in the QES, visit http://screconomy.org.uk/survey/. For more information about the event, which will take place at The Edge at Endcliffe Village, visit www.scci.org.uk or call (0114) 201 8888.