Key issues local businesses highlighted to Buckinghamshire Business First (BBF) in June 2024 included :
- Trading conditions: There are mixed experiences across sectors. Marketing agencies and retail suppliers have reported a decline in business, which they believe is linked to reduced consumer spending. Insurance businesses however report maintaining turnover through the sale of essential insurance products.
- Investment opportunities: Some small firms report that high interest rates and Bounce Back Loan repayments are inhibiting their ability to raise finance to fund growth. Many are avoiding exposing themselves to any more ‘risk’. Banks appear to have increased their thresholds and expectations as they are only prepared to offer finance to low-risk enterprises.
- Recruitment and skills: Engineering employers report concerns regarding the ageing workforce and the loss of skills from the labour market when older staff retire. Whilst a large Aylesbury employer has reported challenges in recruitment due to limited public transport routes and apprentices not being able to drive / afford to run a car.
BBF use this 'on-the-ground' intelligence to inform local business support activity, and share it with central government on a monthly basis to inform national policy.
