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MOST SMES STILL STRUGGLING TO EMBRACE AI
The majority of SMEs are still not using artificial intelligence, despite a growing acceptance by businesses that it will help boost productivity.
Research carried out by the British Chambers of Commerce Insights Unit in partnership with specialist recruiter Pertemps Network Group, shows:
43% of firms have no plans to use AI technology 25% of businesses are currently using AI Customer facing businesses (B2C) are even less likely to adopt AI , with 50% stating they have no plans to [...]
BARRIERS TO WORK MUST BE REMOVED
Reacting to the launch of the Pathways Into Employment report and plans for a new Government White Paper, Jane Gratton, Deputy Director of Public Policy at the BCC, said:
“The Government is right to focus on getting more people into jobs and giving local areas the tools to do it.
“Firms are struggling to find and keep the staff they need, with sectors such as construction and engineering badly hit. This is holding back business investment and putting upward pressure on wages [...]
DELIVERING ON SKILLS MUST BE A PRIORITY
Responding to the latest labour market data published by the ONS this morning, Jane Gratton Deputy Director of Public Policy at the British Chambers of Commerce, said:
“The labour market is continuing to cool but high wage growth is still bearing down heavily on businesses. Our research shows labour costs are the main external pressure on firms forcing them to put up prices and hold back on investment.
“Our latest survey on recruitment, published earlier this week, shows [...]
KING’S SPEECH: INDUSTRIAL STRATEGY CAN RELEASE BUSINESS AMBITION
Responding to today’s King’s Speech, Shevaun Haviland, Director General of the British Chambers of Commerce, said:
“The commitment to an industrial strategy could put in place a framework to unleash the pent-up ambition of British business to grow the economy.
“If we use it to make green innovation a key driver of that growth, and link it to a coherent plan around skills, trade, devolution, and AI, then the possibilities could be endless.
“Billions of pounds [...]
INFLATION HOLDING STEADY
Reacting to the latest ONS data on inflation, David Bharier, Head of Research at the BCC, said:
“Today’s data indicating a 2% increase in the CPI rate shows the UK is exiting its three-year inflation crisis and makes a bank rate cut more likely.
“Our own indicator, tracking business concern over inflation, shows that it is still the top concern but has been waning since its all-time high in 2022. Risks remain, with global conflicts and trade tensions major sources of [...]
KING’S SPEECH SHOULD DRIVE BUSINESS INVESTMENT
The British Chambers of Commerce is calling for growth to be the focus of the King’s Speech next week to give businesses confidence to invest.
The latest data from the BCC’s Insight Unit shows investment remains patchy with wide sectoral differences. Worryingly, three quarters of firms, overall, have no current plans to raise spending. This inertia remains despite business confidence rising and fears over inflation and interest rates falling.
With the new Government [...]
UK GROWTH BETTER THAN EXPECTED
Responding to the latest GDP figures published this morning by the ONS, David Bharier, Head of Research at the British Chambers of Commerce, said:
“The UK has had a strong start to the year and today’s data showing 0.9% growth in GDP in the three months to May is better than expected. Growth for May itself also ticked up at 0.4%, with the services sector performing well. This is further evidence that the economic shocks of the last five years are winding down as businesses get back [...]