The Bank of England has met with small business owners from across Coventry, Warwickshire and Solihull to share its economic outlook and hear firsthand about current business conditions.

Organised by the Federation of Small Businesses, the regular ‘roundtable’ event was held at Coventry Rugby Club. Glynn Jones, the Bank of England’s Agent for the West Midlands, gathered insights from small firms across sectors such as manufacturing, retail, IT and high streets businesses. These insights will help the Bank better understand sentiment within the local economy.

Attendees learned that while disinflation is continuing, the economic outlook remains uncertain, influenced by a range of domestic and international developments, including trade policies.

Glynn heard that small businesses in the region are still facing multiple challenges, including low confidence, late payments, and the rising costs of tax compliance. Several businesses also shared concerns about the impact of tariffs and ongoing international uncertainties.

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Glynn Jones, Bank of England West Midlands Agent said:

Thanks to FSB and Panel members who provided a range of valuable insights in what clearly remain very challenging times for small businesses.

Lee Osborne, FSB Coventry and Warwickshire Development Manager, said:

“This was a welcome opportunity for FSB members to engage directly with the Bank of England and share the small business perspective on current challenges. Many businesses at the table expressed low confidence about the future, clearly feeling the strain of rising costs and higher taxes. Their already tight budgets are being stretched thin and it’s making it harder to thrive in a demanding economic climate. While the recent base rate cut offers some relief, low confidence persists, and challenges remain ahead.

We are grateful to Glynn for taking the time to listen, gather feedback, and collect evidence from the local business community to help shape future Bank of England policy.”