The BCM has been running for 10 years and has built up an extensive dataset on business confidence, financial performance and the challenges to business performance of the credit crunch, recession and recovery.
We have undertaken analysis of the relevance and reliability to economists and business professionals. Using the BCM’s dataset, we examined its effectiveness as a forecasting tool and as a bellwether gauge of business sentiment – both clearly important in business planning.
The overall conclusion is that the BCM dataset has tracked a wide range of key economic indicators remarkably well in recent years. It not only offers a strong steer of the overall direction of the economy but also illustrates what is driving change and highlights the key concerns of UK plc.
We share the BCM findings with a range of policy makers at a national and regional level. It is utilised by the business community, academics and researchers, and provides a robust tool from which government and regional authorities can base decisions for developing both business and economic policy.
Finance professionals also find the BCM findings useful as a credible predictor of economic change. Many use the report as a basis for making business decisions or to enhance dialogue with clients and economic stakeholders in their region.
Each quarter approximately 1000 members active in business in the UK are interviewed by telephone.
Interviews gather opinions on past performance and future prospects for members’ businesses, as well as investigating perceived changes in impact of factors such as availability of skills, government regulation and the tax regime.
If you are an Institute member working in business, you may be selected to give your opinion on the current economic climate.
Please spare a few minutes to complete the survey to ensure your views are heard by influential policy makers and to help to raise the profile of chartered accountants as business experts.
All Institute members are kept up to date with the latest BCM findings via our quarterly email alerts.