Bank of England helps NPS steer through the fog

Over 50 senior figures from Nottingham’s professional services community attended a Bank of England breakfast seminar, hosted by NPS on Thursday 28th February 2019 at the offices of Patent Attorneys, Potter Clarkson.

The seminar was delivered by the Bank’s agent for the East Midlands, Rosie Smith, who gave a brief presentation on the current state of the economy and the outlook generally to an audience who were understandably concerned about the current period of economic instability ahead of the Brexit outcome on the 29thMarch 2019.

Titled “Steering a course through the fog” Rosie presented the banks research findings based on the various possible outcomes of the Brexit negotiations. She outlined the Bank of England’s intentions regarding interest rates and monetary policies depending on whether the UK came out of Europe with a deal or without a deal.

Rosie also presented her findings based on the information gathered from senior decision makers of around 500 companies and organisations across the East Midlands. She stated that 50% of the business she liaises with had already declared themselves “Brexit Ready” with a further 80% of businesses already implementing contingency plans to prepare themselves for a break away from Europe.

Commenting on the event, NPS Chair, Kate Hennig said “This was an eye opening seminar to listen to and it was enlightening to hear The Bank of England’s analysis regarding the state of the economy. Rosie’s presentation certainly answered a lot of the major questions that are on everyone’s lips, although I’m not sure the answers gave much room for optimism as we prepare for a potentially turbulent future.”

NPS was established to provide a forum to bring together professionals across Nottingham from all disciplines. Regular attendees include architects, construction engineers, lawyers, accountants, marketing consultants and other business advisers who network, share best practice, develop careers and encourage work referrals.

It is seen as the independent voice of Nottingham’s professional sector, developing the business advisory community and its successors. NPS Futures focuses on inspiring the younger generation of professional by helping them to expand their network and knowledge via social and CPD orientated events.

Our next event is a Midland Engine Investment Fund Seminar on the 16thMay 2019. The event will take place a year to the day since we held our first event to raise awareness of the MEIF, and this breakfast seminar will showcase how those involved with allocating the funds have helped various businesses across the Midlands region over the past 12 months.