BCC: Inflation Eases But Volatility Ahead 

Reacting to the latest inflation data, published by the ONS this morning, David Bharier, Head of Research at the British Chambers of Commerce, said: 

“Today’s data showing the CPI rate slowed to 2.8% in February is good news, but it’s too early to be certain on the direction of travel. 

“Volatility will be a key feature for the next few months. SMEs are battling shocks from both home and abroad in the form of domestic tax increases and a looming global tariff war.  

“Many firms tell us they will have to raise prices and rethink recruitment when NICs and NLW increases kick in next month. Investment is also likely to suffer until greater certainty emerges. 

“Our latest forecast expects inflation to remain elevated over the coming months, staying above the Bank of England’s target. 

“As the Chancellor prepares to deliver her Spring Statement this lunchtime, firms are under no illusion about the challenges they are facing right now.  

“If the inflation rate continues to go into the right direction, further interest rate cuts could follow, which will be greatly welcomed by SMEs looking for respite on borrowing costs. But SMEs are facing a major squeeze right now and they urgently need the Chancellor to provide clarity and a sense of direction in today’s statement.” 

Source: British Chambers of Commerce

The Bulgarian semiconductor sector has taken a significant step towards fostering international collaboration through a high-profile discovery mission to Scotland. Organised by the British Embassy in Sofia and supported by BBCC, DBT, and BASEL, the delegation comprised academics, government officials, and business leaders from Bulgaria’s semiconductor industry. Over the course of the visit, they explored Scotland’s semiconductor ecosystem, engaged in key discussions, and built valuable partnerships with industry leaders.

The delegation held key meetings with the Scottish Government and DSIT representatives, discussing semiconductor strategy, policy reforms, and internationalisation. They visited leading industry facilities such as Clas-SiC Wafer Fab, Semefab, the Scottish Microelectronics Centre, Diodes Incorporated Greenock, and the National Manufacturing Institute Scotland (NMIS), gaining insights into cutting-edge research and manufacturing advancements. A highlight of the visit was the NMI Conference in Glasgow, where Deputy Minister of Innovation Georgi Angelov participated in a panel on international collaboration, and Professor Asen Asenov delivered an insightful keynote speech on the future of semiconductors.

To celebrate the success of the visit, BBCC sponsored a drinks reception featuring exceptional Bulgarian wine by Bratanovi, reinforcing the strong cultural and professional ties between the two nations. This mission marked a crucial step in deepening Bulgaria-Scotland collaboration in the semiconductor industry, laying the groundwork for future partnerships. A heartfelt thank you to the British Embassy in Sofia, DBT, BASEL, and all participating organisations for making this initiative a success!

SeeNext are excited to announce the release of our in-depth 2025 analysis on the renewable energy landscape in Southeast Europe!

Download your copy of the 2025 Renewable Energy Industry in Southeast Europe analysis by SeeNext today.

Southeast Europe (SEE) is undergoing a significant transformation in the renewable energy sector. As countries align with the EU’s climate targets, the market is expanding rapidly, but the pace and approach vary greatly across SEE.

This year’s focus is on prosumers who are behind part of the renewable energy capacity growth across the region. The 2025 edition of the Renewable Energy Industry in Southeast Europe analysis provides an in-depth understanding of the region’s green energy transition, focusing on prosumers, the growth of solar, wind and hydropower capacities, grid interconnectivity and energy storage. The anal
Check out the analysis and gain insights into:

• The Rise of Prosumers: How prosumers are decentralising energy generation and furthering renewable capacity additions, with Romania and Greece leading the charge.
• National Targets and Progress: A detailed look at each SEE country’s commitment to EU renewable energy targets for 2030 and how ambitions developed.
• Solar Power Leading the Charge: The rapid expansion of solar energy, update on the ongoing and planned capacities of wind and hydropower, and the region’s reconfiguration of its energy mix.
• Storage and Grid Upgrades for Stability: The intermittency of renewables underscores the demand for interconnection enhancements and energy storage, with most countries in the region earmarking significant investments in this area.

Download the analysis now to stay informed on the latest developments in SEE’s renewable energy market.

Electronic Travel Authorisations (ETAs) are being introduced worldwide for visitors to the UK who do not currently need a visa for short stays, or who do not already have a UK immigration status. Here’s everything you need to know.

Eligible Europeans can now apply for an ETA and will need an ETA to travel from 2 April 2025.

Eligible non-Europeans already need an ETA to travel to the UK.

An ETA is a digital permission to travel – it is not a visa and does not permit entry into the UK – it authorises a person to travel to the UK.

Applying for an ETA is quick and simple. Visitors should apply in advance and find out when to do so on GOV.UK.

An ETA currently costs £10 and permits multiple journeys to the UK for stays of up to six months at a time over two years or until the holder’s passport expires – whichever is sooner.

From 9 April 2025 an ETA will cost £16. 

The introduction of ETAs is in line with the approach many other countries have taken to border security, including the US and Australia, and helps prevent the arrival of those who present a threat to the UK.

How do people apply for an ETA? 

• Information on who can get an ETA and how to apply before coming to the UK is available on GOV.UK
• The easiest way to apply for an ETA is through the ‘UK ETA app’, which can be downloaded from the Google Play or Apple App Store. People can apply on GOV.UK if they do not have access to a smartphone.
• Applying for an ETA is quick and simple. Most applicants currently get an automatic decision in minutes when applying through the UK ETA app, which means spontaneous trips to the UK are still possible.
• Visitors are advised to allow three working days for a decision on their application, but this is to take account of the small number of cases which need further review. Visitors should apply in advance and find out when to do so on GOV.UK. 
• To apply for an ETA, applicants need to:
  • Pay a fee 
  • Provide contact and passport details 
  • Provide a valid photo, complying with our rules for digital photos on GOV.UK 
  • Answer a set of questions 

People must travel using the same passport they used when they applied for an ETA.

For more information regarding ETA, please click here.

BCC Director General, Shevaun Haviland’s, full speech to a packed Driving International Trade Conference in London on Thursday 20 March: 

Good morning all and welcome to our Driving International Trade Conference. We’re very excited about today… it’s going to be a great day.  

It’s fantastic to have a room full of brilliant businesses, British chambers from all across the UK, and around the world, as well as a line up of star speakers delivering global opportunities for growth and investment.  

Shortly we will be hearing from the Minister for Investment, Baroness Poppy Gustafsson, and later in the day the Foreign Secretary, Rt. Hon. David Lammy, who will deliver his keynote speech.  

When we first began developing the concept of this event last year, we were in very different times… fast forward 12 months and the purpose remains the same, yet the world as we know it has moved on quite significantly.  

It is no exaggeration to say that 2025 will be one of the most significant for global trade in years.  

So, bringing you all here today is more important now than ever.   

So, Why are we here?  

Just over 10% of UK businesses export.   

Over 40% of Chamber members are exporters… because many of our businesses start local, perfect the art of their trade, invest and then aspire to build their footprint beyond the UK, supported by our Chambers.  

We know trade is the most efficient and quickest way to grow the economy. If total exports had been around 2% higher last year (2024), this could have increased the GDP from 0.9% to around 1.5%. With a similar estimate of GDP growth of 0.9% this year, an expansion in exports is very much needed.  

 Our research shows business confidence is low. Tax increases have been a setback, and geopolitics are adding to uncertainty.  

But despite the tough times, businesses tell me they are seeking new opportunities and moving forward.  

One of our businesses here today, Jesmonite, who make eco-friendly materials used by artists and architects, has made full use of our global Chamber network. They worked with their local UK Chamber, Shropshire Chamber of Commerce, to reach out to every British Chamber across the world to find new customers and distributors for their product.   

And today is just about that… bringing together a room full of business leaders that understand how to trade… that want to trade… and seek new customers from around the globe.  

We have brought the UK’s Top Strategic Trading Partners here today – Germany, India, Türkiye, Australia, Egypt, and UAE just to name a few – to highlight the strategic opportunities their markets offer.   

As we witness daily changes in our global supply chains, international markets offer unique advantages for Brand Britain, and we know many of you in this room will grasp those opportunities.   

But we also need to have an honest conversation.   

Many of you here, despite the backdrop of the last few years… covid, soaring energy bills, interest rate rises and eye-watering inflation… have shown great resilience, agility and creativity.  

And the biggest challenge for those that trade – like you – has been adapting to the massive disruption with our largest trading partner.  

Brexit.  

It’s not gone away. Next year marks 10 years since the day of the vote, and businesses are still feeling the strain.   

Despite the best efforts of firms to adapt… structural barriers to trade with the EU persist, in both goods and services.  

But the world order is shifting, and we need a new settlement with our closest neighbours.   

Businesses in both the UK and EU seek similar ambition from UK Ministers and EU institutions to tackle these problems, using the Trade and Co-operation Agreement (TCA) as the foundation.    

This requires leadership from both sides of the English Channel prepared for productive negotiations, and ambition on the outcomes for our economic relationship.  

Last month, it was promising to see the Prime Minister attend the European Council summit in Brussels to discuss defence and security co-operation. This was the first time a UK Prime Minister attended the European Council since 2019.  

Business welcomes this improving relationship and wants both sides to expand this quickly through a pragmatic, growth-driven package of improvements to our trading relationship.    

We hope the UK/EU summit between the Prime Minister and Presidents von der Leyen and Costa, in the UK on 19 May, is constructive and moves the dial.   

Ahead of that meeting, we will bring together our BCC Business Council members and our Chamber in Brussels, to meet in London on 15 May with the Minister responsible for EU negotiations, Nick Thomas-Symonds…  

…And the EU Ambassador to the United Kingdom, Pedro Serrano, to discuss what business want to see from a successful summit.   

Business wants to see more than just a reset moment, they want to see a timeline, clear process and eventual agreements to ensure the best working partnership for all our nations.  

A new relationship with the EU is more important now than ever given the challenging geopolitics of our time.  

But we must also ensure we continue to build on our strong relationships across the world;   

that we are deploying our best negotiators to secure valuable FTAs;  

and we do not have a knee-jerk reaction to daily headlines.  

We must keep a cool head as we begin to grasp this new world order.  

We must be quick to seize new opportunities that both seek to protect our security and our economy.  

Last year’s General Election in the UK felt like we were turning a page on instability, and our American friends followed closely behind as they held their election and voted in new leadership…  

… a leadership that has now led to a new trade era with President Trump announcing tariffs of 25% for all imports of steel and aluminium from the UK to the US.     

Further tariffs for the UK could follow as early as next month. We’re also seeing retaliatory tariffs from the EU, Canada, and China.   

A wider conflict on trade would be a lose-lose scenario for the global economy, and we will not be immune from the consequences of that here in the UK.  

It is vital that the UK Government stays calm.   

The British Chambers of Commerce shared a Memorandum with Ministers on our priorities for their discussions with the US Administration on trade, which we are hopeful can produce a win-win agreement – keeping tariffs low, and co-operation high on technology and AI.  

Our commercial relationships across the Atlantic are strong and durable.   

• We have over £300bn in well balanced bilateral trade each year  
• £700bn in inward investment from the US to the UK.   
• And we have a burgeoning trade in professional serivces.   

Business wants certainty. We are quickly learning that tit-for-tat politicking will only aggravate circumstances, and so far, we have kept away from that. We know that pragmatic, sensible negotiation is the right approach and will get us the best possible outcome.   

For UK businesses, trade with Europe and the US is not an either or. It is in our economic interests to maximise the opportunities for UK growth in both.  

We also need to expand our links in the fast-growing Indo-Pacific region and the Middle East, along with other parts of the world.   

In the last few months, UK firms have started trading with nine other member countries using the Comprehensive and Progressive Agreement for Trans-Pacific Partnership – CPTPP – turning it into a real growth engine for UK exports and investment in a region with 15% of global GDP.   

Businesses have high hopes of groundbreaking trade deals with India and the Gulf Co-operation Council, and to modernise our services and digital trade terms with South Korea, Switzerland, and Türkiye.  

International trade makes businesses more productive, profitable and resilient, and creates a solid platform for investment – this is what we… the Chambers… mean when we talk about growth.   

Getting our trade strategy right, grasping opportunities and building the right environment for UK businesses can only lead to growth.   

As we see the world order change, the state is also being reshaped and rewired here.   

The challenges of security in Europe and our own national interests mean investment in defence and security must take more of a priority.   

Public spending on defence will increase to 2.5% of GDP by mid-2027 and rise on a trajectory to 3% of UK GDP by the early 2030s.  

We also see our European partners increasing investment in defence industries, creating new opportunities for procurement and joint consortia with those in the UK to meet our common security obligations.  

In 2023, annual defence orders from UK companies grew by 49% in value terms. Europe is now our largest market for UK defence exports, followed by the Middle East.   

This is why defence co-operation is now a key priority for the wider UK-EU relationship reset.   

Defence is one of the 8 priority sectors in the UK industrial strategy, with sector specific support available for businesses to supply the inventory and hardware to keep all of us secure.   

Let’s make the most of the new opportunities, particularly in changes to SME procurement, to promote world-leading British defence know-how.  

Over the last few weeks, defence has been at the top of every major nations’ agenda. The UK government has been leading the way and so can British business… not just in the defence supply chain, but also in securing the UKs future economic growth at the top of the agenda.  

The world is changing, and we must change with it.   

UK businesses and our diplomatic dignitaries across the globe are world leading… and then there’s the British Chambers of Commerce.    

Our Network of 50 Chambers across the UK and our 70 British Chambers internationally, put us in the best position to help you connect globally and grow your business.   

If you do well, the economy does well and that’s why we have some clear asks for government today to drive Economic Diplomacy around the world:  

   

1. Every British Ambassador that has a British Chamber in their jurisdiction should automatically become an honorary president of the Chamber. Their connections and diplomatic skills and our understanding of business opportunities makes the perfect partnership for growth. 
2. Secondly, as we navigate these unpredictable times, we need to work in partnership with government to help businesses maximise our potential overseas. Let’s build a Diplomatic Advisory Hub with the FCDO at the BCC to support our exports.  
3. And, thirdly, we will partner with the Business and Trade Secretary and Foreign Secretary to take the BCC Business Council and Chambers to Washington to meet Ambassador Mandelson and showcase what a UK/US partnership truly looks like for business.  

International trade and the art of good diplomacy should go hand-in-hand…  

…because putting the United Kingdom and Brand Britian at the heart of our diplomatic trade negotiations is key to driving growth.  

The Chambers have been doing exactly that for 165 years, and today is no different.   

The British Chamber network from across the world is here to help you grow your business, and today we have brought the World to London. A world of opportunity for you. And a pathway of growth for the UK economy and Brand Britain.  

Lets make the most of it!   

Thank you.  

Source: British Chambers of Commerce

Escape the office atmosphere and embark on a new adventure – teambuilding at the Rila Hotel, Borovets, where you and your colleagues will unleash your creativity, motivation and teamwork skills. The completely renovated conference centre of the Rila Hotel is one of the most preferred locations for corporate events in Bulgaria. Every time we strive to provide impeccable service in order to stimulate team cohesion and team spirit. Annually we host more than 250 events and have an individual approach to each client. Trust the uncompromising quality at the Rila Hotel, Borovets! 

Explore more about Rila Hotel, Borovets and book your next stay there here.

Tony McMurray’s Bulgarian 56 Peaks Challenge started in 2022 and is aiming to raise funds and awareness for the causes of For Our Children Foundation. For the first 18 months of the challenge, Tony along with 35 friends and supporters has managed to climb 20 of the 56 peaks over 2500 m and raise almost 9 000 BGN of the initial 10 000 BGN goal. The challenge continues and Tony is motivated to not only climb the rest of the peaks, but to increase his fundraising goal to 20 000 BGN. All raised funds will be used to further develop FOC’s early childhood development programs focused on social, psychological and therapeutical support for vulnerable children and children with disabilities. 

Over the past three years, this challenge has united more than 80 amazing people from across Bulgaria and beyond. People who have joined at various stages, sharing in the adventure, the struggle, and the triumphs along the way. More importantly, it has helped raise much-needed awareness and funds for the For Our Children Foundation, supporting their incredible work in giving vulnerable children a better start in life.

If you want to contribute to the cause, you can donate via this link.

If you want to join the climbing of the remaining peaks, here are the upcoming dates:

April 5th & 6th – Two-Day Adventure
Overnight stay at Musala Hut – A fantastic opportunity to experience the area around Bulgaria’s highest peak under the stars!

May 10th & 11th – Two-Day Climb
Location to be confirmed

May 24th & 25th – Two-Day Climb
Location to be confirmed

June 7th & 8th – Two-Day Climb
Location to be confirmed

June 14th & 15th – Two-Day Climb
Location to be confirmed

If you are interested in joining, please reply to this email or message Tony McMurray on WhatsApp or Viber at +359 882 900 882.

While over 80 climbers have participated so far, please be aware that the logistics team reserves the right to limit participation due to:
Group size restrictions – We may reach maximum capacity.
Technical difficulty – Some routes require more advanced mountain skills.

We are delighted to share the highlights from our recent “Meet the Founding Members” event, held on March 13, 2025, at the lovely atmosphere of Vivacom Art Hall . The evening brought together members and guests to celebrate the visionaries who established our Chamber.

The event commenced with a keynote address by our Executive director, Desislava Miteva, who emphasised the Chamber’s journey, the continuous support of our members and partners and their pivotal role in fostering British-Bulgarian business relations. This was followed by presentations from our 10th Anniversary Patrons Shell, Danco Industry, Lion’s head and Epay. After that followed an awarding ceremony featuring our founding members, who shared insights into the Chamber’s inception and its evolution over the years. Special thanks to Borislav Boyanov, Ivan Fratev, Barbara Page-Roberts, Mark Thomas, Nevena Tsatcheva, Tim Buisseret, John Munnery, Omourtag Petkov and Svilen Spasov who received awards for their contribution to the development of BBCC. We also acknowledged our past chairs Garry Levesley, Miroslava Alexandrova and Gilbert McCaul.

We extend our heartfelt gratitude to all attendees, speakers, and sponsors for making this event memorable. Your continued support propels our mission to strengthen the British-Bulgarian business network.

We look forward to welcoming you to our upcoming events and initiatives. Stay tuned for more details on our website and newsletter.

You can find pictures from the event here. Shout out to Roy Hill and 3Frames for capturing the moment.

Reacting to the introduction of 25 percent tariffs on exports of UK steel and aluminium to the United States, William Bain, BCC Head of Trade Policy, said: 

“This is a difficult day for trans-Atlantic trade and plunges businesses, in both the US and UK, into a new age of uncertainty. 

“Products made with UK steel and aluminium play an important part in many supply chains in the US. Both sides will now be facing up to negotiations on how the burden of these new tariffs will affect businesses in both countries. 

“Despite this action, UK firms will want to keep trading with their customers and clients in the US and vice versa. Our commercial, investment and trading relationships remain strong. 

“Tariffs mean prices and costs will inevitably go up and this is a lose-lose scenario for consumers, businesses, and economic growth. More tariffs are also on the agenda for the start of next month which will add fresh uncertainty into the mix. 

“BCC research shows that 63% of our manufacturing exporters were concerned about the impact of tariffs before their introduction. 

“But today’s setback does not mean we have reached the end of the road in terms of negotiations. Tariffs can be lifted at any time. 

“Businesses will be looking to the UK government to continue dialogue, with the US, to resolve this situation and restore certainty for firms, which has been badly lacking over recent weeks. 

“Against this background, a series of tit-for-tat tariffs could easily spiral into an all-out trade war and would do the UK little benefit. 

“We must keep talks alive and retaliatory tariffs should only be used as a means of last resort. 

“If talks succeed, it would be a win-win, bringing welcome stability and pro-growth economic conditions for both sides.” 

Source: British Chambers of Commerce

In today’s challenging international environment, the demands and pressures on leaders at all levels  of business are more complex and sophisticated than ever before. That’s why managers are looking  for concrete solutions to real-life problems. They need the confidence and ability to manage the  business, lead their teams and achieve higher, sustainable levels of success. 

This practical course will help you focus on building and developing the skills required by modern  leaders. The training will provide thought-provoking discussions and current case studies from  companies across industries. Participants will discuss real-life examples to understand scenarios,  problems and solutions. This will allow them to gain in-depth knowledge of best practices. 

The course will help participants prepare on how to create and implement successful strategies that  give organizations a competitive advantage. There will be a focus on improving leadership and  management skills, as well as developing internal communications strategies. Motivating and  supporting your team is central to the training. You will learn how to create your personal brand,  manage your reputation and influence others. 

The training will help you learn how to effectively and efficiently manage and motivate your teams,  develop your leadership skills and become an effective communicator.

BBCC members get a special 10% OFF

For more information and to register for this training, please click here.