CUSTOMER RETENTION AND ECONOMIC CLIMATE MOST LIKELY TO AFFECT BANBURY BUSINESSES IN 2014
62% of Banbury Chamber of Commerce members are anticipating that a volatile economic climate will have the biggest impact on local businesses over the next two years, with 59% also expecting that customer retention will play a significant role.
The research conducted by the Banbury Chamber of Commerce (BCOC) has also revealed that recruitment and staffing issues (44%) will be a concern for much of the business community over the next two years. Infrastructure (88%), funding (82%) and premises (73%) were considered as likely to have little or no impact on business over the next two years according to the report.
The BCOC is viewed very positively by its members, with 87% of respondents claiming that the overall membership experience to the chamber was good or excellent and 95% praising the friendly welcome when joining.
The Chamber conducted the survey of its members after Claire Kingsbury, whilst still on the Executive Board, moved in to the role of President and handed the reins of Chairmanship over to Richard Hunter, Digital Design Director at Catalogues 4 Business Ltd. The Chamber carried out the research to find out the most important issues affecting the Banbury business community and gain a clear idea of how it was viewed by its members.
Richard Hunter, Chairman of the Banbury Chamber of Commerce, commented: “The research we have conducted has given the board and myself a clear indication of what issues the Chamber needs to support its members on the most.”
“Clearly there will be some big challenges for the Banbury Business Community over the next 24 months and the Chamber will look to assist in as many ways as possible. Whilst the darker days of the recession are behind us, the climate is still volatile and Banbury businesses are treading cautiously.”
“The most important reasons named for being part of the Chamber were being part of the business community and gaining access to key decision makers so one of our key targets will be to further build upon our existing relationships with bodies such as the Cherwell District Council and Bank of England representatives.”
“I’d like to thank all members for taking part in the survey which has given the Banbury Chamber of Commerce guidance and focus for the future.”