Thinking Business June 2022
Welcome to the latest edition of Thinking Business. It continues to be a challenging time for businesses up and down the country. Soaring inflation, the highest we’ve seen for four decades, is heaping more cost pressures on businesses, who are already grappling with sky-high energy bills and, in many cases, a steep increase in the cost of raw materials. The war in Ukraine has exacerbated the cost-of-living crisis and, with the energy price cap set to increase further in October, this will inevitably bring more pain for consumers and households.
Despite all of this, many of our businesses here in Kent have shown the necessary resilience and agility to grow and prosper. This is particularly true of companies that have been prepared to embrace new technologies. The digital transformation – the subject of our cover feature in this edition – has opened opportunities for firms to win new contracts, diversify and streamline their business models to make them even more efficient. Some firms have managed to capitalise on emerging consumer behaviours – the boom in online shopping is a good example of this – while others have joined forces with various partners to create robust, tech-driven supply chains.
Here in Kent, right now we have a real shortage of digital skills, I’m not confident that we have the talent to take advantage of these. These are obstacles to overcome if we are to maximise the future opportunities and growth.
As a Country we find ourselves in a position of having more job vacancies than job seekers, which if not addressed, will slow down economic growth. However, I am confident that as a County we have the aptitude and ability to mitigate these barriers to growth and embracing technology will be a key driver.
Jo James, Chief Executive
Kent Invicta Chamber Commerce
