I HAVE always been of the view that the most difficult thing to cope with in business is uncertainty.

If times are hard, perhaps due to a tough economy or high interest rates, we adjust as best we can and try to ride out the storm; if times are good and the economy is strong with low rates, we try to maximise the benefits we can gain from the situation.

However, uncertainty and doubt are destructive – we are never sure which way to react, what may be around the corner and what is the best route.

Undoubtedly we have been blessed in most recent times with stable and low interest rates, and I for one hope those remain for as long as possible. Certainly the Chamber movement is making that clear to policy makers.

However, 12 months ago we had three large issues of uncertainty looming. We are now in the position of ‘one down, two to go’ following the Scottish Devolution debate. While this will have affected the majority of Somerset businesses very little, the other two issues are likely to have a much greater impact.

In May we face the next General Election and the media is already full of claims and counter claims, with the economy and the health service top of political agendas, while immigration appears to be top of the agenda for the voters at large.

How those two approaches are brought together will be fascinating to see, with the immigration debate being particularly relevant here in Somerset where ‘economic migrants’ will be a key part of delivering some of the exciting projects on our doorstep. But while the jockeying for position and media onslaught take place, business impetus may slow – and that worries me.

As does the third big issue: the whole Europe ‘in or out’ debate and the promised referendum. Further doubts will be born, uncertainty is not good! I truly hope we get clearer picture as this year progresses, and quickly.

We in Somerset have plenty to feel positive about though: with Hinkley Point C and the promised improvements to the A303 bringing significant benefits to the county, with improving broadband connectivity and that stable set of interest rates as our bedrock, 2015 will certainly have a lot to offer. The sooner we reach a land of certainty again the better. Roll on May 8.

*The Somerset Chamber of Commerce represents and works collaboratively with the Somerset business community to encourage strong, sustainable and creative alliances that promote members’ businesses, raise the profile of the county, and help to lobby for greater influence for Somerset at all levels of government.