Chamber column: 'Topsy-turvy year for Rugby businesses'

Karen Shuter, chair of the Rugby branch of the Coventry and Warwickshire Chamber of Commerce, writes a regular column for the Rugby Advertiser.

As 2023 comes to an end, it is difficult to sum up yet another topsy-turvy year that has, undoubtedly, had an impact on businesses across the region.

For the past four or five years my wish for the forthcoming New Year has been to have some sense of stability to give companies in Rugby and the wider borough a platform from which to grow.

Unfortunately, it is yet to come true!

Some might argue that with a General Election widely expected in 2024 that the next 12 months are going to be uncertain too but let’s hope that, whatever the result, the next Government has business at its heart and helps to create the conditions for economic growth.

Looking on the bright side, we will emerge from 2023 with inflation at a much-reduced rate compared to where it was 12 months ago – but we’ve had to suffer to a severe rise in interest rates to help get the rate down.

The Chancellor’s Autumn Statement forecasted that there would be growth in the economy in 2024 – albeit at a very slow rate – and was also hailed as being pro-business.

There was certainly positive news for this region around the Investment Zone coming to the border of Coventry and Warwickshire close to Coventry Airport and it will be exciting to see that develop.

The year was also concluded by a very uplifting Coventry and Warwickshire Chamber of Commerce Annual Business & Economic Conference at the Coventry Building Society Arena.

The theme was doing business with purpose and the event featured some incredible speakers and panellists that were interesting, informative and inspiring in equal measure.

It was grounded in the reality that these are not easy times for business and that there are challenges being thrown at us left, right and centre but companies continue to innovate and adapt to the world we live in and none more so than here in our region.

The point around doing business with purpose is something that is great for firms across the region to reflect on but also the wider community too because the positive impact businesses have on their locality can often go unnoticed.

We create jobs, investment and opportunities. We help good causes and are driving forward the agenda on vital matters such as net zero and increasing diversity.

There is no question that good businesses really do have a greater purpose than generating revenue for the bottom line.

Of course, without that, there is no money generated that can be spent on the services we all require and so fostering business growth has to be a key priority in 2024, whatever happens in the General Election.

And, I can only hope that as I look forward to 2025 in a year’s time, that my wishes for 2024 have come true.

The past year has been the Chamber’s 120 th anniversary and it proves that whatever may lay ahead in the coming 12 months, the Chamber of Commerce will continue to be a champion, and a loud voice, for businesses in our region. If your business needs a supportive, trusted network then please speak to the Chamber Team – we’re where business belongs.

Have a Merry Christmas and a prosperous New Year.