Chamber and Gilson Gray launch north-east business mood tracker

Their new quarterly survey aims to shine light on region's economy.

By Keith Findlay

August 21 2023, 12:01 am

Aberdeen and Grampian Chamber of Commerce chief executive Russell Borthwick, second from the left, with, l-r, Gilson Gray partners Calum Crighton, Lesley McKnight, Richard Shepherd and Findlay Anderson. Image: AGCC

Aberdeen and Grampian Chamber of Commerce (AGCC) and law firm Gilson Gray have teamed up to track the mood of businesses across the north-east.

Their new quarterly survey will map key economic indicators across Aberdeen and Aberdeenshire.

It will ask the region’s businesses if they have seen an increase, decrease or no change in a series of metrics, such as domestic sales, cash flow and investment.

It will also seek to shed light on issues companies in the region may be having with getting paid for their goods or services as customers wrestle with cost increases, high interest rates, and political and economic uncertainty.

North-east data will be fed into UK-wide business confidence barometer

The first edition of the north-east Quarterly Economic Survey (QES) is being launched today.

Findings will be revealed at a business breakfast the chamber is hosting in The Chester Hotel, Aberdeen, on October 5.

The data will also be fed into a national report from the British Chambers of Commerce, whose established quarterly surveys are closely watched by policymakers at organisations including the Treasury, Bank of England and Office of Budget Responsibility.

A barometer hanging on a wall. — The new survey for the north-east will reveal whether the outlook is “fair” or “stormy” for the region’s businesses. Image: Shutterstock

AGCC chief executive Russell Borthwick said the north-east version would provide evidence to support the regional chamber’s lobbying activities.

Mr Borthwick added: “The Quarterly Economic Survey is among the most well-regarded and respected trackers of business confidence and performance in the UK economy.

“It also plays an essential role in setting the business agenda and informing the most senior levels of government and policy-making of the challenges facing businesses.

“To be able to produce a localised version of it will provide invaluable insight into what makes our local economy tick, and what more needs to be done to ensure our region continues to prosper both now and in the future.”

Aberdeen and Grampian Chamber of Commerce chief executive Russell Borthwick. — Chamber CEO Russell Borthwick. Image: AGCC/ Abermedia

He continued: “There have been many examples in recent years of policy which does not necessarily reflect the reality on the ground here in the north-east. This report will give us the evidence-base we need to ensure ministers at both Holyrood and Westminster understand what businesses in this region require to thrive.”

Gilson Gray is steadily growing its presence in the north-east, having opened an office at Blenheim Gate, Aberdeen, during 2022. It acquired Granite city firm The Law Practice earlier this year.

Findlay Anderson, an Aberdeen-based partner in the firm, said: “This is a pivotal time for our city and region. In the midst of ongoing and significant change, it is critical in any business that you strive to have a clear view of the path forward and the challenges and opportunities around you.

Gilson Gray partner Findlay Anderson. Image: Frame

“You can then develop a stronger plan to deliver, whilst navigating the journey. The Quarterly Economic Survey presents an excellent opportunity to support local businesses with an updated perspective every quarter on the financial drivers and impacts that other businesses are seeing and how they are responding. We are excited to see the outcomes of this and future surveys.”