Wirral Chamber's first 'In Business' event of the year took place this morning focussing on the hot button topic of Brexit.
Representatives from the British Chambers of Commerce (BCC) and chamber partners, MoneyCorp offered leading insight from their experience of engaging with ministers, chamber members and Chambers across the UK. The event was the latest in a series of EU focused events and activities organised by Wirral Chamber to ensure that members have are armed the information to continue to grow in the uncertain political climate.
Senior BCC representatives Mike Spicer and Marcus Mason came from Westminster to deliver keynote speeches on the economic and political concerns of Chamber businesses and to gain first-hand insights from Wirral's business community on the implications of doing businesses post-EU referendum.
The BCC plays a crucial role in educating and informing decision makers about the experiences and demands of the nation's businesses. Wirral Chamber is keen to ensure that Wirral-based businesses, especially SMEs, have the means to be heard and represented in Westminster during any upcoming UK-EU negotiations.
Marcus Mason, Head of Business, Education & Skills and 'Brexit Coordinator' at the BCC gave overviews of the network's recent political engagement including the recently announced Industrial Strategy. He outlined how regular meetings between ministers, civil servants and the BCC helps to ensure there is constant pressure to represent the real interests and concerns of UK businesses and not simply a political agenda as we prepare to leave the EU.
Mike Spicer, Director of Research & Economics at the BCC, explained the BCC's recent economic forecast and offered valuable insights into the ways leaving the single market will affect the UK economy, specifically in terms of international trade, a key concern for many members. A formal opportunity to ask questions took place at the end of the speech with the main topics of concern being the potential pitfalls of international trade agreements and the strength of the UK's bargaining power with other nations. He concluded, "By being a constant voice at the table, the British Chambers of Commerce is able to represent the feedback gained from its members."
Live polling was introduced for the first time at a Wirral Chamber event and allowed the speakers to tailor their answers to directly address the concerns of the businesses in the room. It's a powerful tool that turned up some interesting results: 72% of Wirral Business people in attendance saw Brexit as an opportunity rather than a threat despite many concerns in the national press, potentiall showing an optimism that growth can continue.
Foreign Exchange experts MoneyCorp, one of the largest currency conversion companies in the country, with clients like The Post Office, commented on the uncertainty in the Foreign Exchange market and the effect a volatile FX Market has on UK businesses. The reliance in the UK on an international supply chain and imported goods means paying attention to the markets may be the difference between making a profit or a loss.
MoneyCorp offer services to help circumvent these problems, including access to a financial advisor who can assist you with all things foreign exchange and an arrangement whereby you can freeze exchange rates to save your business in case of considerable drops in the market. Chamber Members get these services at a considerable discount in addition to other benefits offered MoneyCorp.
The full event presentation is available here;