The Chambers Quarterly Economic Survey (QES), is the UK’s largest independent business survey and is currently open for responses from local Norfolk businesses. The previous quarter’s QES showed that whilst businesses continued to recover from the deepest recession on record, concerns were raised over the strength of that recovery. Q3 Indicators, such as domestic sales and orders improved in the last quarter. However, it also revealed stagnation in the proportion of firms reporting improved cashflow and increased investment. Worryingly, firms’ expectations of price increases and fears about inflation are hitting record levels. 45% of the Q3 respondents reported increased domestic sales, with 63% of the hospitality sector benefitting from domestic sales as a result of restrictions being lifted. However, 51% of companies reported that they expected prices to increase over the next 3 months and 60% cited concerns over inflation. Three months on, it is now time to ask again what Norfolk businesses think. We need to her from a wide range of Norfolk businesses – large and small to understand the true picture of the local economy. The QES only take a couple of minutes to complete – it is anonymous and your support would be greatly appreciated. The QES Q4 is open for responses until midnight on Monday 22 November. Take part in the QES now. Photo credit: Getty Images/Chamber Canva Pro
