Stuart Elford, Staffordshire Chamber of Commerce’s new Chief Executive, has arrived in the county at a time when its businesses are navigating rising costs and global uncertainty. During his first month in post, he’s been quick to engage with the policy landscape shaping the prospects of local enterprise. Following yesterday’s King’s Speech, he shares his response.
“The King’s Speech arrives at a difficult moment for businesses. Global instability, rising costs and an uncertain trading environment are pressing concerns for firms of all sizes. Staffordshire businesses want solutions.
There are things to welcome. Action on late payments is long overdue, and is something that we have lobbied for strongly as a Chamber. For small and medium-sized businesses in particular, cash flow is often the difference between surviving a difficult quarter and not surviving it at all. A 60-day cap on payment terms and mandatory interest on overdue invoices are real measures that will land positively for a lot of the firms we represent.
The European Partnership Bill is also significant. Staffordshire has a strong base in manufacturing, ceramics and advanced engineering, and greater certainty around trading terms with our closest market will be welcomed by exporters who have had to navigate added complexity since Brexit. Anything that reduces that friction is a step in the right direction.
But there are gaps.
Business rates did not feature prominently, and that is a serious disappointment. Our own research shows that concern about business rates among hospitality businesses is at its highest level in at least eight years, with 49% expressing concern. That is not a fringe issue. Change has been promised, and it is overdue. As an immediate step, we have called on government to move to annual revaluations and adopt a single, lower multiplier to give businesses the certainty they need and reduce the burden on those with physical premises.
Supply chains also went largely unaddressed. That is a serious omission. Staffordshire’s central geography makes its logistics and distribution sectors particularly exposed when global supply chains become fragile. The speech acknowledged the volatility of the world we are operating in, but offered little to help businesses plan for and respond to it.
On skills and apprenticeships, the direction is right, but the detail needs to follow. Reforms only work if they are shaped around what employers actually need. Too often, skills policy is designed at a distance from the businesses expected to benefit from it. We will be watching closely to see whether this changes.
The Regulating for Growth Bill and the Competition Reform Bill are encouraging in principle. Businesses in Staffordshire do not want red tape for its own sake, but they do need predictability and a regulatory environment that does not make it harder to invest and grow.
Planning and infrastructure remain a concern. Grid connectivity, road investment and planning changes are not abstract issues. They affect whether a business can expand, whether a site can be developed, and whether Staffordshire can attract the kind of investment that creates long-term employment.
There is genuine opportunity in this legislative programme. But opportunity only becomes reality when policy is implemented with speed and with business at the table. We stand ready to work with government to make sure the businesses and communities we represent are not an afterthought in that process.”
