The next data produced by Q2 of the Quarterly Economic Survey will make for interesting reading. 

Q1 was slightly skewed due to the war in the Middle East which just starting so businesses had yet to feel the effect of the conflict and even Q4 of last year didn’t give us a full picture with the Budget Statement in the middle. 

But Q2 should give an honest and clearer outlook of the real issues facing businesses across Lancashire in every sector.

And that’s the benefit of the QES, it goes to the very heart of the problems facing organisations every day, from domestic sales to exporting, the labour market to future headaches. 

In an age where “survey fatigue” is very much present, the QES stands out as the “must fill in” form. It takes just a few minutes but its potential impact on businesses is never called into question. 

Often referred to as its flagship survey by the British Chambers, it is the UK’s largest and longest-running independent survey of business sentiment which has helped form policy, including the Energy Bills Discount Scheme in 2023 and the Chamber-led Local Skills Improvement Plans to help resolve skills gaps. 

Chambers across the country use the data in different ways, some use it to target sectors with campaigns, while others – including this Chamber – use to as a platform in which we can share the results with members at an event, discuss the real-time data and come up with tangible actions as a business community. 

Recent events have tackled the worrying skills gap experienced by all sectors, while past Lancashire Economic Breakfasts have looked at the construction sector and July’s tackles innovation and will be hosted by Ribby Hall. 

Having a partner like Brabners sponsoring both the QES and Economic Breakfast gives both the survey and event extra kudos with the experience the law firm has in all sectors and its reach through its True North publications. 

But it’s the data which is invaluable and can really influence the decision-makers with the wider results from the Chamber networks acting as a barometer which will be poured over by the decision-makers higher up the food chain of government.