CEO speaks on impact of inflation on Black Country businesses in live TV appearance
19 Jun 2024
Published in: Black Country Chamber of Commerce News
Black Country Chamber of Commerce CEO Sarah Moorhouse spoke about the impact of inflation on local businesses during a live national BBC TV news appearance.
Sarah was interviewed at Wolverhampton Market by BBC Breakfast TV business reporter Ben Boulos ahead of the latest inflation figures being announced to get her views on the outlook among the region’s companies.
Speaking live on TV, Sarah said: “Inflation has a huge effect as it is another thing to think about when trying to run a business alongside energy costs and transport issues in terms of fuel costs. It is another thing to think about while we try to keep this region really flourishing.”
Asked what the impact of rising costs were for businesses, Sarah said: “It might mean recruitment has to be put on hold or delays in investment in equipment or machinery.
“It might also mean that it is really hard to retain key members of the team because as we know it is a dog eat dog world out there and there are some fabulous opportunities.
“Black Country businesses are always cautiously optimistic and always looking on the brighter side of things and want to try to make things work. It does look like things are getting better.
“The responses to our Quarterly Economic Survey, which takes the pulse of what is happening in the Black Country, showed businesses are looking to reinvest and are looking to grow.
“They are hoping to become more profitable this year so there are green shoots for sure.”
As well as appearing on BBC Breakfast, Sarah was filmed to appear on the rolling news channel and later national TV bulletins throughout the day.
Announced shortly after the CEO’s TV appearance, inflation has hit the Bank of England's target for the first time in almost three years as prices rose at 2% in the year to May, down from 2.3% the month before, official figures show.
The economy has proved a key talking point in the run-up to the general election on 4 July, with all of the main parties debating how they would keep the cost of living under control.
The inflation announcement comes ahead of a Bank of England decision on UK interest rates tomorrow (Thursday).
The Chamber of Commerce is the Black Country’s leading business support organisation for firms based within or doing business across Dudley, Sandwell, Walsall, and Wolverhampton, providing platforms and opportunities for businesses to grow, connect and become part of a thriving network.
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