Past Wins, Present Challenges, and Future Promise
A Round of Santa-plause
In amongst the doom and gloom, we must recognise some wins this year. Interest rates fell by a very welcome 1%, making the cost of borrowing easier for many businesses. We’ve also seen a steady number of new trade agreements and some warming of relations with our biggest trading partner, the EU. Most recently, the UK rejoining the Erasmus scheme is something the Chamber network had campaigned for. Another win for the Chambers network was the compromise the government made on day 1 employment rights.
Locally, work finally began on the Thickthorn A11/A47 junction, alongside the A47 dualling and completion of the long awaited A140 Long Stratton Bypass – bottlenecks which have plagued the movement of people and goods for years, constraining our economic growth potential.
2025 was also the year we gave members a complimentary co-working space in Norwich city centre. Our membership grew, we invested more in services to our members, and we delivered over 100 events in every corner of the county. Connecting, supporting and giving voice to every business in Norfolk.
Frosty Forecast
But, 2026 is going to be a tricky one for fiscal policy. The Bank of England predict much slower interest rate cuts next year, and their consensus seems to be that the closer we get to the 2% inflation target, the harder it will get to achieve. Meanwhile, businesses will start to feel some of the impact of the 2025 budget – ‘making tax digital’, business rates re-evaluation and new multipliers for retail and hospitality, dividend tax increase and APR/BPR property relief…all changes that will impact businesses to varying degrees.
In other policy news, the Employment Rights Bill now has ‘royal assent’ (i.e. it’s now law.) This means our network’s campaigning now needs to switch focus to the ‘secondary legislation’ to ensure the concerns and needs of businesses are properly considered as the minute detail is ironed out.
Closer to home, Norfolk and Suffolk’s Devolution deal has been postponed until 2028. This means we have to wait another two years to see the benefit of more localised decision making and funding.
Regardless of the turbulence, we will continue to fight the corner of Norfolk business in 2026, investing more time and resource into putting your voice to local decision-makers, MPs and central government.
Sleigh-ing it in 2026
Despite these challenges, 2026 is a year to celebrate. Norfolk Chambers was founded back in 1896. It was the year of the first cinema screening, the first X-ray, the founding of the Dow Jones and the first ever ‘wireless’ communication. 2026 is our 130th Anniversary. We’ll be celebrating 130 years of bringing business together throughout the year so keep your eyes peeled.
This legacy of 130 years will be a running theme through our flagship events programme. From February’s Big Debate to the Future Careers Expo in March, and the Business Zone at the Royal Norfolk Show in June to our 29th Annual B2B Exhibition in October…all of which can be booked now so you don’t miss out!
We will also be asking our business community what support they need for the future and taking a forensic look at our membership model to ensure it keeps adding real value to you.
That’s all to come, so for now from everyone at Norfolk Chambers of Commerce, we wish you a restful break over Christmas and New Year and a prosperous 2026 – we’ll be with you every step of the way.