Shaping Policy. Shifting Perceptions. Cutting through at the intersection of political and corporate communications

Businesses in the UK face an increasingly fragmented communications environment. Political upheaval, economic turmoil and international instability can make it a significant challenge to convey the value they bring to the country, and to advocate for their priorities – and the messages that speak to one audience, may have little traction with, or even actively repel, others.

How is a business to stand out in such an environment? What stories do business journalists think set the news agenda? And what subjects should companies be talking about to receive a hearing from MPs and Ministers?

To find out, we asked more than 100 MPs and business journalists what they view as the role of business, which sectors they want to hear about, and what concerns they would like organisations to address.

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The results demonstrate a clear imperative for businesses to explain more robustly the value they bring.

1/3rd of Labour MPs “don’t know” whether any business sector effectively explains its contribution to the UK.

More than a third of Labour MPs “don’t know” whether any business sector effectively explains its contribution to the UK, and the party’s MPs are generally unable to say that sectors as a whole are honest, transparent and treat consumers fairly (fewer than 15% of Labour MPs would say they agree with this for any sector).

Yet the findings also indicate the strength of the appetite that MPs and journalists have to hear from business, and the critical role firms play in supporting the government’s priorities:

“Contributing to economic growth” is recognised by Labour MPs as one of the key roles of business, along with “providing high quality employment”. Respectively, 82% and 73% of Labour MPs agree these are “important roles for business”.

“Generating private or foreign investment into the UK”, “delivering essential services”, “treating customers fairly”, and “engaging with local communities” are all seen as lower priorities by Labour MPs – to the extent that in many cases, it is Conservative MPs that rank these societal impacts more highly.

Communicating this economic value can take many forms – our research shows that “stories in the media” are one of the strongest driver of how MPs understand and engage with business, followed by visits to firms in their local constituency. Trade unions, trade associations, and party networks all play an important role for specific sectors.

Many of the communications challenges facing businesses, however, also stem from the decisions taken in Whitehall and the White House – with business journalists keen to explore the impact, creating a tightrope for corporate and political communications leaders.

Nearly two-thirds of journalists we surveyed said recent tax changes introduced in the budget have already negatively impacted businesses’ reputations, such as through price rises or job cuts. And companies are set to face increasing scrutiny in other areas: eight in ten journalists believed the rollback of diversity and inclusiveness policies in the US would focus media attention on how businesses in the UK approach this issue, and the same number thought that a summer of public sector strikes would affect the reputation of private sector businesses in affected industries.

Of course, our findings are also underpinned by increasingly diametrically opposed public opinion on key policy issues – with rising concerns about whether we should pursue net zero, whether firms should promote DEI initiatives, and the role of private sector and international investment in essential services. The media, in all its forms, is the intersection of this, leading and reflecting public opinion, and shaping politicians’ concerns and communications on these issues.

With the threat of recession looming, a critical spending review, and an increasingly polarised political environment, there has never been a more important time for businesses to be clear on the value they bring and explain how they are contributing to the UK’s economic performance – our research sets out the opportunities to do so.

To explore additional polling and sector-specific data, and to discuss the implications for your business, please contact us at contact@wacomms.co.uk.