With the General Data Protection Regulation (GDPR) changes coming May 2018, Norfolk Chamber of Commerce are set to deliver a new event to help Norfolk businesses stay cyber safe.

The Cyber Security Conference on Thursday 18 May 2017 will be a key event for the business calendar this year. With news headlines filled with the latest cyber-attack on corporate giants, organisations small and large need to be aware of the danger to their data. In May 2018 a new European regulation will come into effect meaning that businesses will have to completely re-think their data protection regimes. High standards are to be set on the accountability of how data is recorded, kept and processed. One of the biggest threats is the increase in fines from €500,000 to a maximum of €20m or 4% of global turnover.

To visit the event webpage and book your place click here

Norfolk Chamber’s Chief Executive, Caroline Williams said: “We live in a fast-paced, global economy that relies more and more on data and information carried through cyberspace.  Just as it is important for businesses to protect their physical property from intruders and potential theft, it is as important to guard against cybercrime. “The necessity of strong cybersecurity measures is self-evident and business needs to respond to this increased threat by adopting strict cybersecurity measures to ensure their continued economic growth. This event will give you the tools to help protect your organisation.” Hosted by Paul Maskall, Cybercrime Security Advisor and Coordinator for Norfolk and Suffolk Constabularies, this event is set to help your business avoid the €20m fine by bringing together speakers from a range of businesses and backgrounds; with the event featuring talks and live demonstrations.  Speakers for the event are being sent from both local and national businesses including Birketts, FreeClix and PwC. Talks will cover topics such as the GDPR, inside threats, the Internet of Things, preventing attacks and more. Question and answer, networking opportunities and an exhibition will also feature on this half day conference agenda.  The event is open to all businesses of all sizes and industries to attend to gain vital knowledge on cyber practise. If you’re a business owner, work in IT, Security or Tech, you’ll want to be there. Event sponsorship and stands are available now, as well as event tickets. Full details can be found online here Speakers Include: • Paul Maskall, Norfolk and Suffolk Constabularies  • Kitty Rosser, Birketts LLP  • Peter Freeman, FreeClix Ltd  • Rahul Colaco, PwC

Media Invitation

Date: Thursday 18 May 2017, 9am – 12:30pm Venue: The Space, Norwich Members of press and media are invited to attend the event. An official photographer will be at the event and a selection of photographs will be available for use on request the following working day.  If you would like to attend or arrange an interview with a speaker please email [email protected] or phone 01603 729708.

The latest Bank of England Agents’ Summary for Quarter One 2017 has been published.  Key highlights are:

• Overall moderate rates of growth activity have continued
• Investment intentions have picked up with points to modest growth ahead
• The fall in sterling has resulted in higher manufacturing output

Moderate rates of activity growth has continued overall. Retail sales volumes growth had eased. It was expected to slow further during the year ahead as the fall in sterling fed through to higher prices, reducing households’ purchasing power. In contrast, export volume growth had picked up. That was due to the fall in sterling and stronger world growth.

Investment intentions had picked up, pointing to modest growth in spending in the year ahead. That reflected continued moderate demand growth and less uncertainty about economic prospects, particularly in the near term. But a lack of visibility of the United Kingdom’s future trading arrangements was weighing on longer-term plans for some contacts.

The fall in sterling was being passed through into higher manufacturing output and consumer goods price inflation. Business and consumer services price inflation had edged higher.

To read the full report click here.

Right now the world wants quality Norfolk goods and services. There are millions of people across the world looking for the right skills, expertise, goods and services. The demand is out there and your business should be too.

The Department for International Trade’s Export Hub is coming to Norfolk this April.

Scottow Enterprise Park

Date: Wednesday 12 April 2017                                                                   

Time: 10:00 – 13:00 Hrs                                                        

Venue: On-board The Export Hub, Scottow Enterprise Park, Lamas Road,

Baddersfield, Scottow, NR10 5FB

Hethel Engineering Centre

Date: Thursday 13 April 2017

Time: 11:00 – 14:00 Hrs

Venue: On-board The Export Hub, Hethel Engineering Centre, Chapman Way, Hethel, Norwich, NR14 8FB

Trading abroad can boost your company’s profile, credibility and bottom line. And operating in new markets will mean you are more likely to be aware of the emerging needs of that market and the new opportunities that may arise for your business.

This exposure will ensure Norfolk businesses are better able to maintain a competitive position in this sector. Exporting will also enhance your businesses profile, whether for new clients at home or abroad.

Commenting the Export Hubs coming to our county, Julie Austin, International Trade Manager for Norfolk Chamber said:

“With Brexit negotiations now under way, it is important for Norfolk’s innovative firms to consider the opportunities that international trade can offer. With lots of existing and new emerging markets, exporting has never been easier. The Export Hubs offer a unique opportunity to find out how you can profile your business’ skills and services to the rest of the world.”

You do not need to pre-register, please just stop by on the above dates and times to talk about how you can improve or start exporting.

For more information email: [email protected]

The British Chambers of Commerce (BCC) today (Thursday) publishes its Quarterly Economic Survey – the UK’s largest business survey with over 7,000 responses, including Norfolk businesses.  

The overall UK results show solid growth for both sectors, particularly in relation to domestic and export sales and orders. However the majority of the Norfolk and the East of England results bucked the UK trend.  The exception being the East of England manufacturers, who saw their domestic and export sales and orders reflect those results seen at a national level, which Norfolk didn’t

Key Norfolk findings in the Q1 2017 survey:

• Both sectors reported falling domestic sales (Manufacturing 24% to 9% and Service 24% to 14%)
• Export sales fell in both sectors (Manufacturing 18% to 17% and Services 11% to 6%)
• Reduced employment in the last 3 months was reported by both sectors (Manufacturing 34% to 5% and Service 19% to 12%)
• The number of Norfolk manufacturers intending to increase prices remained static
• In the services sector, the balance of firms expecting prices to rise increased from +32% to +39%
• Both sectors highlighted an increase recruitment difficulties and reduced recruitment intentions

Manufacturing – Q1 2017

The majority of Norfolk manufacturing balances for Q1 showed a loss of confidence and many expressed caution in the current uncertain economic times.  Reduced orders and sales points to more support being needed by Norfolk businesses to help them investigate overseas trading opportunities.

Despite increases in raw material prices, due to a weak pound, many companies have advised that they do not intend to increase their prices to ensure that they remain competitive.

Service Sector – Q1 2017

Norfolk’s service sector was definitely more cautious in the first quarter of 2017 than in the previous quarter.  Current economic uncertainty translated into reduced domestic and export sales and orders.  As with the manufacturing sector Norfolk’s employment expectations dropped.  However, the number of companies within the service sector expecting to raise prices increased.

Commenting on the results, Caroline Williams, Chief Executive of Norfolk Chamber said:

“Whilst the national picture is still showing solid growth, the local view is not as optimistic.  The impact of economic uncertainty is starting show.  The rise in inflation seen since last year’s EU referendum is identified as an increasing pressure facing local businesses.

“The myriad of upfront costs imposed by government – including business rates, Apprenticeship Levy, National Living Wage and insurance premium tax – are all adding to the overhead costs of firms and the pressure on prices, which is impacting on our county.   Norfolk businesses need Government to recognise the need to invest in Norfolk to assist business to reverse these negative trends.”

Plumstead Road will be closed between Thorpe End and Little Plumstead from 8pm tomorrow (Saturday 8 April) for the lifting of the main beams on to the A1270 Northern Distributor Road bridge over the Norwich to Sheringham railway at Rackheath.

The 1,000 tonne crane has arrived on site and the forecast is for winds speeds to be within the limits for lifting the five braced pairs of 36.7-metre beams, each pair weighing 80 tonnes. Lifting is expected to start in the early hours of Sunday morning and if all goes well could be complete well before the 10pm completion target. The road will reopen as soon as it is safe to do so after the beam lifts and associated works have been completed, but no later than 6am on Monday 10 April. If good progress is made, this could be during the day on Sunday 9 April.

During the closure of Plumstead Road the main diversion will be along Salhouse Road. Access to Thorpe End will be maintained from the west (city direction). On Sunday, Bittern Line trains will be replaced by buses*. The revised timetable can be found on the Service Alterations page of the abellio Greater Anglia website: www.greateranglia.co.uk/travel-information/service-diversions. *Please note: The bus replacement service operator has changed and will not be provided by Sanders.

Digital skills are increasingly important to the operation of businesses in Norfolk and the rest of the UK but companies are facing a shortage of skills in their workforce which is hampering productivity, according to a new survey by the British Chambers of Commerce (BCC), released today (Friday).

More than 1,400 business in the UK took part in the survey, including those in Norfolk.  The Norfolk results showed that 83% of firms say digital and IT skills are more important to their business than two years ago, with half (54%) saying these skills are significantly more important.

However, the survey also found that more than three-in-four businesses are facing a shortage of digital skills in their workforce, with 56% reporting a slight shortage, 17% a significant one and 4% a critical shortage.

The Norfolk key findings of the survey are:

• The skills most important to companies are basic computer skills (70%), communicating and connecting through digital channels (74%) and management of digital information (69%)
• Skills shortages are having adverse effects on many firms including, increasing workload on existing staff (53%), higher operating costs (33%), and causing difficulties in meeting customer requirements (18%)
• Businesses regard a lack of time for staff training (29%), difficulty in identifying appropriate training (27%), and the high cost of training (15%), as the leading barriers to rectifying these shortages.

Nova Fairbank, Public Affairs Manager of Norfolk Chamber said:

“The evidence is clear: better digital skills make Norfolk firms more productive, and a lack of digital skills holds them back.

“Businesses themselves can do a lot more to tackle the digital skills shortages they face.  They need to be aware that a failure to tackle this issue will ultimately impact on their bottom line. If no action is taken, then firms could get stuck in an unproductive cycle, where a lack of action will have serious consequences.

“Training providers in our region can help by engaging with companies on their digital needs and help them to free up resources for growth.  Equally, the government must help as well, by recognising that some of the high-level digital skills local businesses need will come from overseas, so a pragmatic immigration system needs to be in place to provide Norfolk companies with access to the workers required to fill some of the gaps.”

The British Chambers of Commerce (BCC), in partnership with DHL, today (Thursday) publishes its latest Quarterly International Trade Outlook, which shows that confidence among exporters that their turnover will improve jumped in Q4 2016, ahead of further moves towards Brexit.

Although the number of businesses reporting that their export sales and orders would improve remained largely constant in the last quarter of 2016, businesses in both manufacturing and services are increasingly confident that they will continue to improve turnover, and that profitability will increase or remain steady in the coming 12 months.

The BCC/DHL Trade Confidence Index, which measures the volume of trade documentation issued by accredited Chambers of Commerce, fell by 1.42% on the quarter – but remains nearly 5% up on the last quarter of 2015.

The results serve as a reminder that businesses are continuing to trade in spite of the uncertainty around Brexit. But to maintain this positivity, the government must focus on the fundamentals of the economy – helping exporters recruit to close a growing skills gap, and provide support for those seeking to navigate currency fluctuations.

Key findings from the report:

·         The BCC/DHL Trade Confidence Index, a measure of the volume of trade documentation issued nationally, fell by 1.42% on the quarter. The Index now stands at 119.96 – and is up 4.81% on Q4 2015

·         The balance of manufacturers reporting improved export sales fell slightly to +16, down one point from the previous quarter. Looking at services, the balance of firms reporting improved export sales remained constant at +8

·         The balance of manufacturers reporting improved export orders rose to +13 from +12 in Q3, while in services this rose one point to +6

·         Looking at expectations of turnover over the next 12 months, the balance of manufacturers confident of an increase rose nine points to +43 – in services this rose seven points to +35

·         Confidence that profitability would improve rose to +21 for services companies – up from the four-year low of +15 seen in Q3 2016. The balance of manufacturers remained constant at +22

Commenting on the findings, Julie Austin, International Trade Manager said:

“Many Norfolk exporters remain confident, in spite of uncertainty over our relationship with the EU. The BCC findings serve as a reminder that it is businesses that trade with other businesses, not governments – but they need support if they are to continue to be positive.”

Dr Adam Marshall, BCC Director General, said:

“Our economic forecast suggests that inflation is going to rise above the 2% target this year, which will create pressure on many firms. In addition, the fluctuating currency markets are affecting our exporters and importers – so there are warning signs on the horizon.

“The government cannot give businesses much certainty around either Brexit or currency markets, but it can act closer to home. The Chancellor’s Budget must focus on cutting the up-front costs that government imposes on every business, and promote investment and exports.”

Ian Wilson, CEO DHL Express UK and Ireland, said:

“UK exporters continue to be undeterred in their ambition to take their products and services overseas, despite turbulent economic times.

“Whilst this confidence might come as a surprise during these uncertain times, the rapid evolution of e-commerce and technology means that more businesses than ever are realising the opportunity that exporting presents.

“With online technology in overseas markets advancing, UK exporters should remain confident that their products are now more accessible than ever.”

Nearly one in five Norfolk businesses have fallen victim to cyber-attacks in the past year, according to the results of a survey released today (Tuesday) by the British Chambers of Commerce (BCC).

The survey of more than 1,200 businesses across the UK, including those in Norfolk, found that 19% of Norfolk businesses had been hit by a cyber-attack in the last 12 months. 

The results indicate that businesses in our region are most reliant on IT providers (63%) to resolve issues after an attack, compared to seeking support from banks, financial institutions or police and law enforcement.

The findings also show that 13% of Norfolk businesses believe the threat of cyber-crime is preventing their company from growing.

The survey also shows:

• Less than a quarter (21%) of Norfolk businesses have cyber security accreditations in place
• Smaller businesses are far less likely to have accreditation (10% of sole traders and 15% of those with 1-4 employees) than big businesses (47% with more than 100 employees)
• Across the UK, those businesses that do have accreditations, nearly half (49%) believe it gives their business a competitive advantage over rival companies, and a third (33%) consider it important in creating a more secure environment when trading with other businesses

From May 2018, all businesses who use personal data will have to ensure they are compliant with the new General Data Protection Regulation (GDPR) legislation.  In preparation for these regulatory changes, Norfolk Chamber of Commerce are set to deliver our own Cyber Security Conference on 18 May this year.

The new regulation will mean that businesses will have to completely re-think their data protection regimes. High standards are to be set on the accountability of how data is recorded, kept and processed. One of the biggest threats is the increase in fines from €500,000 to a maximum of €20m or 4% of global turnover.

Nova Fairbank, Public Affairs Manager for Norfolk Chamber said:

“Cyber-attacks risk companies’ finances, confidence and reputation, with victims reporting not only monetary losses but costs from disruption to their business and productivity.

“The necessity of strong cybersecurity measures is self-evident and business needs to respond to this increased threat by adopting strict cybersecurity measures to ensure their continued economic growth. Our Cyber Security Conference will give Norfolk businesses the necessary tools to help protect themselves.

“A good step towards being more cyber security conscious is to become accredited.  Accreditations can help businesses assess their own IT infrastructure, defend against cyber-security breaches and mitigate the damage caused by an attack. It can also increase confidence of their online clients.”

Commenting on the PM’s decision to seek a General Election on June 8th, Caroline Williams, CEO of the Norfolk Chambers of Commerce said:

“The Norfolk business community will understandably be concerned that attention will inevitably shift from the economy and the intricacies of leaving the EU to a potential election campaign. Firms want to see our local MPs give reassurance that the key challenges facing the economy will be front and centre throughout any election period.”

The Planning & Local Growth Survey aims to understand business’ experience of the planning system, and the impact of planning decisions on your organisation.

At present, the fieldwork period is underway and Chamber members are already be being contacted directly by the British Chambers of Commerce for their feedback. 

Norfolk Chamber would like to hear from as many local businesses as possible.  We want you to share your thoughts on the current planning system, both positive and negative – the survey can be completed online – have your say now.

Responses must be received by close of play on Friday 28 April 2017.

A new UK-Israel Trade Working Group aims to strengthen trade and investment between the two countries.

Announced in February following a meeting between Prime Ministers Theresa May and Benjamin Netanyahu, the forum has been established not only to promote greater trade and investment, but also to prepare the ground for a post-Brexit trade agreement.

The UK is Israel’s second largest trading partner and its top destination for investment in Europe. More than 300 Israeli companies currently operate in the UK, with 28 having either set up or expanded their businesses since April 2016.

Meanwhile, over 30 British companies operate in Israel, with hundreds more represented there. Overall, bilateral trade between the UK and Israel was worth US$7.5 billion in 2015.

The Working Group’s inaugural meeting in late March 2017 saw officials start work on what the Government described as a smooth transition to the trading relationship as the UK leaves the EU.

Ahead of the meeting, Israel’s Minister of Economy and Industry, Eli Cohen, said: “As the UK is Israel’s first export destination in Europe, we see high importance in keeping and enhancing our trade relations when the UK ceases to be a member of the European Union.”

The two sides should, he added, make sure that the business communities in both countries will be able to continue trading with each other by providing them with the necessary trade platforms.

Changes to rules on food imports from non-EU countries could see Israeli farmers able to sell more fresh produce in the UK, while easing restrictions on travel and work permits could make it easier for Israelis to come to the UK.

Containers full of British goods are on their way to China after the departure of the first UK to China export train from DP World London Gateway.

The train will make the 7500 mile, three-week-long journey, from South Essex to Yiwu in the Zhejiang province in eastern China. Products on board include soft drinks, vitamins, pharmaceuticals and baby products.

Container operator OneTwoThree Logistics is overseeing the transportation and booking of cargo for the UK/China rail freight trains, in conjunction with Yiwu Timex Industrial Investment Co, which is running the service with China Railway Container.

The inaugural export train departed for Asia just under three months after the first ever import train from China arrived in the UK. The service is part of China’s One Belt, One Road programme – reviving the ancient Silk Road trading routes to the west.

The train service is cheaper and less restrictive than air freight and faster than going by sea.

Greg Hands, Minister of State in the Department for International Trade (DIT), said: “This shows the huge global demand for quality UK goods and is a great step for DP World’s £1.5 billion London Gateway Port as it also welcomes its first regular container ships from Asia.”

Xubin Feng, Chairman of Yiwu Timex Industrial Investment Co, said that this was just the start of a regular direct service between the UK and China. Expressing his faith in the UK as an export nation, he said that rail provides an excellent alternative for moving large volumes of goods over long distances faster.