New business partnership to shine a light on the North-east economy

21/08/2023
Aberdeen & Grampian Chamber of Commerce and law firm Gilson Gray have agreed a new partnership to track business confidence in the North-east of Scotland

ABERDEEN & Grampian Chamber of Commerce and law firm Gilson Gray have agreed a new partnership to track business confidence in the North-east of Scotland.

The organisations are combining forces to launch a quarterly survey which will map key economic indicators across Aberdeen and Aberdeenshire.

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The Quarterly Economic Survey (QES) will ask businesses if they have seen an increase, decrease or no change in a series of metrics, such as domestic sales, cash flow and investment.

It will also seek to shed light on issues companies in the region may be having with getting paid for their goods or services as customers continue to wrestle with cost increases, high interest rates and political and economic uncertainty.

Businesses are being urged to take part in the first edition of the survey, which is being launched today.

The findings will be revealed at a Business Breakfast the Chamber is hosting on October 5th at the Chester Hotel.

The data gathered will also be fed into a national version of the report, run by the British Chambers of Commerce, which is the largest and most representative independent business survey of its kind in the UK.

Its findings are closely watched by policymakers such as the Treasury, the Bank of England and the Office of Budget Responsibility.

Russell Borthwick, Chief Executive of Aberdeen & Grampian Chamber of Commerce, said the report will provide an evidence-base to support the group’s lobbying of government on behalf of the region.

“The Quarterly Economic Survey is among the most well regarded and respected trackers of business confidence and performance in the UK economy,” he said.

“It also plays an essential role in setting the business agenda and informing the most senior levels of government and policy making of the challenges facing businesses.

“To be able to produce a localised version of it will provide invaluable insight into what makes our local economy tick, and what more needs to be done to ensure our region continues to prosper both now and in the future.

“There have been many examples in recent years of policy which does not necessarily reflect the reality on the ground here in the North-east. This report will give us the evidence-base we need to ensure that ministers at both Holyrood and Westminster understand what businesses in this region require to thrive.”

Findlay Anderson, a Partner at Gilson Gray, which now has a new North-east headquarters at Blenheim Gate in the city centre, said the firm is delighted to be partnering with the Chamber on the research.

He said: “This is a pivotal time for our city and region. In the midst of ongoing and significant change it is critical in any business that you strive to have a clear view of the path forward and the challenges and opportunities around you.

“You can then develop a stronger plan to deliver whilst navigating the journey. We believe the Quarterly Economic Survey presents an excellent opportunity to support local businesses with an updated perspective every quarter on the financial drivers and impacts that other businesses are seeing and how they are responding.

“We are excited to see the outcomes of this and future surveys.”

Click here to take part in the survey.

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