For December we are running our Christmas Countdown of Charities here at Norfolk Chambers, where throughout the month we will be sharing stories and updates from a variety of Norfolk Charities.
Below is a recap list of the Charities we shared last week, along with links to the posts we sent out on LinkedIn:
There’s no doubt that many business owners and managers will have hundreds of questions and concerns about the direct impact of Brexit on organisations. But what about the effects on the end consumer? It’s essential that businesses understand how buying trends and consumer rights may be affected to help you plan ahead.
Through our Brexit Hub, we offer support on a business-to-business basis to ensure you are trading under new rules and regulations. However, below are some areas where your customers could be impacted. These areas are purely predictions and possible scenarios and are not certainties, but hopefully they can provide some clarity for your business.
Consumer rights
Many EU-based consumer rights have been incorporated into UK law so there shouldn’t be much difference whether there is a deal or no-deal. These unaffected rights include refund protection.
As of the 1st of January 2021, if you buy goods from Europe to sell to your customers with a refund policy, it would be a good idea to speak to your supplier about if this will change and update your own policy to reflect any updates. If consumers wish to seek legal action against EU based traders, enforcement from a UK court may be more difficult to achieve.
Tariff increases
Some tariffs could increase – your business may be in a position to absorb some of these costs, or you might have to adjust the prices of your products which could alter your customer’s buying habits.
Product delays
It’s possible we could see logistical delays as we approach the transition date. Especially in the instance of a no-deal, many goods including fresh food imports could be in short supply. It may be worth exploring a strategy on how to manage your customer’s expectations if you are worried about shortages.
Pound to euro
It’s difficult to say whether the pound will rise or fall following the transition date if we get a deal. And it’s possible that with a slight drop in the pound, this won’t have a significant impact on consumer prices. However, a no-deal scenario could amplify this impact considerably and costs could rise if you import certain goods.
With the deadline for the end of the Brexit Transition Period fast approaching and Prime Minister Boris Johnson warning there is a “strong possibility” of no deal, Norfolk Chambers of Commerce wishes to assure its members and the wider Norfolk business community that we are here to provide guidance and support through the potentially troubled waters ahead.
01 January 2021, are you ready?
A question posed across the media and all government departments to the business community throughout 2020.
Whilst there are things you can prepare for, many will ask “Prepared for what?” as they try to disseminate the tangible actions amongst the barrage of information.
We would like to assure you that as soon as further information becomes available, we will strive to cut through the jargon and bring you clear advice.
The EU-UK Joint committee have come to an agreement in principle on the Northern Ireland protocol. Whilst this is a positive step forward, we are awaiting the conversion of this agreement into crystal clear guidance for the business community moving forward.
Commenting on the introduction of ‘Tier 4’ of Coronavirus restrictions in England, with many businesses once again forced to close their doors from 20th December, BCC Director General Adam Marshall said:
“Christmas was already cancelled for many businesses, but even more will now suffer as a result of this last-minute decision.
“While Government must act on public health concerns, it must also address the economic consequences of its actions. Will there be more help for firms being forced to shut their doors – and for those who have paid for stock they now can’t sell? What support will there be for companies whose cash flow projections have once again been thrown into chaos?
“The introduction of an additional tier without warning or additional help is a huge blow to businesspeople who wanted nothing more than to be able to trade safely through the holiday season and beyond.
“It is clear ministers across all four nations are now considering even tougher measures. With huge numbers of firms already on the edge, it would be unconscionable for further restrictions or closures to be announced without a more comprehensive package of support in place that gives businesses the confidence that ministers will stand by them through an uncertain year ahead.”
Commenting on GDP figures for November 2020 published today by the ONS, BCC Head of Economics Suren Thiru said:
“The latest figures highlight the continued damage being done to the UK economy by coronavirus.
“The decline in output in November was largely driven by the drag on activity from the second lockdown, with consumer-focused services firms, who are most exposed to lockdown restrictions, enduring a particularly difficult month.
“With any post-lockdown rally in output in December constrained by the tougher tiered restrictions, including the introduction of tier 4 measures, the UK economy is likely to have contracted in the final quarter of 2020.
“A third lockdown means that a double-dip recession in the first quarter of this year may be inevitable, particularly if the current post-Brexit disruption persists through the quarter.
“A clear and comprehensive plan is urgently needed to support the economy throughout this year. This should include closing the current gaps in government support and providing more significant grant funding to support cash strapped businesses. A fit-for-purpose Test, Trace and Isolate system remains critical to keeping the economy moving once the current lockdown ends.”
Commenting on the Prime Minister’s announcement of a new, national lockdown in England, and following the implementation of a lockdown in Scotland, BCC Director General Adam Marshall said:
“Businesses will understand why the Prime Minister has felt compelled to act on the spiralling threat to public health, but they will be baffled and disappointed by the fact that he did not announce additional support for affected businesses alongside these new restrictions.
“The lockdowns announced in England and Scotland today are a body blow to our business communities, hard on the heels of lost trade during the festive season and uncertainty linked to the end of the Brexit transition period. Tens of thousands of firms are already in a precarious position, and now face a period of further hardship and difficulty.
“Billions have already been spent helping good firms to survive this unprecedented crisis and to save jobs. These businesses must not be allowed to fail now, when the vaccine rollout provides light at the end of this long tunnel. The financial support for businesses needs to be stepped up in line with the devastating restrictions being placed on them. Otherwise, many of these firms may simply not be there to power our recovery when we emerge once again.
“Enhanced support for businesses, a turbo-charged vaccine rollout, and delivery of existing promises on mass testing must be delivered to enable the UK to restart, rebuild and renew.”
Norfolk County Council have released their business ratepayers consultation for 2021/2022. With a very challenging year for everyone last year, the budget for the coming financial year had to make allowances for the continuing response to the Covid-19 pandemic; dealing with Brexit and reducing carbon.
There is major uncertainty about government funding beyond 2021-22, including uncertainty linked with impact of COVID-19 and leaving the EU. As well as significant uncertainty around impact of COVID-19 on council tax and business rates income 2021-22. Therefore Norfolk County Council are proposing to increase council tax by 3.99% in 2021-22 (including 2% Adult Social Care precept), with a further 1% increase in Adult Social Care precept deferred to 2022-23.
A Capital Programme of £537.660m is proposed for 2021-25+ reflecting significant capital investment in major projects including:
Great Yarmouth Third River Crossing.
Long Stratton bypass.
Programme to improve SEND school provision
The County Council have also provided a presentation to outline key spending decisions, which can be viewed here.
They are very keen to hear from the Norfolk business community. Please give your feedback via: [email protected] by 31 January 2021.
As Coronavirus continues to impact the day-to-day operations of businesses across the UK, the Norfolk Chambers of Commerce stand ready to support you. We have created a range of resources to help address your concerns which can be found on our website.
Since March 2020, thousands of businesses across the UK have contributed to the Coronavirus Business Impacts Tracker. Your views have gone directly to the highest levels of Government and have formed one of the most important datasets shaping the economic response throughout the crisis.
In this 5 minute survey, please feel free to give your views on business conditions, Coronavirus business support schemes, and possible changes flowing from the introduction of the EU-UK trade agreement on 1 January. A link to the survey is below: COVID-19 and Brexit Survey
Your views have never been more important for both your own business and all others within the business community.
With over 125 years in business, Norfolk Chambers of Commerce places emphasis on supporting more Norfolk businesses by embracing digital communities.
As Norfolk’s largest business membership network, Norfolk Chambers of Commerce is aiming to give local businesses even more opportunities to connect, engage and collaborate.
With a mission of Connecting, Supporting and Giving Voice to Every Business in Norfolk, the non-profit organisation is turning up the volume on how and where businesses can get advice and support.
Norfolk Chambers has already launched two new exciting digital platforms – Norfolk’s Voice – a members only e-zine, and the first stage of Norfolk Knowledge Hub, a knowledge and skills sharing platform that is free to use for all.
The move to become a Digital Chamber has been a long time in the planning. Last year Norfolk Chambers introduced Vice Chairman of the Social Media Council at the DMA and director of award-winning digital marketing and social media experts SocialB, Lynsey Sweales, as its President. With over 16 years’ experience in digital marketing working with clients such as Google and Aston Martin, Lynsey brings in a wealth of experience to help encourage companies to embrace digital innovation and grow their business online.
There has also been a change to Norfolk Chambers’ senior management team. Nova Fairbank who was previously Head of Policy, Governance & Public Affairs has been promoted to Chief Operating Officer, and Paul Vincent, previously Financial Controller has been promoted to Chief Financial Officer.
Chris Sargisson, Chief Executive of Norfolk Chambers said: “This investment in change is part of the development and growth of the Norfolk Chambers of Commerce. As a Chamber we provide networking opportunities, share knowledge, offer business advice and support, signpost to business opportunities and inspire innovative thinking to enable companies to do better business. These new digital platforms and new roles within the Chambers will enable us to remain relevant and help support many more Norfolk businesses in their quest to get ready to grow.”
Commenting on the announcement of the fund, Nova Fairbank, Chief Operating Officer for Norfolk Chamberssaid:
“This is a welcome first step in dealing with some of the major issues that small businesses trading with the EU are facing. With their finances already under a significant squeeze firms, particularly those which export, are inevitably encountering difficulties in adapting to the complexities of the new arrangements.
“It is now crucial that the grants provide sufficient funds to make a real difference and the government should stand ready to increase their size if needed. We will continue working closely with government to make sure this scheme is delivered as quickly and smoothly as possible for firms still adapting to the new EU trading arrangements and the impact of the pandemic.
“The Norfolk Chamber will also continue to offer as much direct support as we can to SMEs especially through ChamberCustoms and our other International Trade Services.
Commenting on the latest GDP figures published today by the ONS, BCC Head of Economics, Suren Thiru, said:
“The UK economy recorded stronger than expected growth in the final quarter of 2020 as the squeeze on output from the November lockdown was more than offset by a temporary boost from the release of pent-up demand from the subsequent easing in restrictions, increased activity from the coronavirus testing schemes and Brexit stockpiling.
“Despite avoiding a double-dip recession, with output still well below pre-pandemic levels amid confirmation that 2020 was a historically bleak year for the UK economy, there is little to cheer in the latest data.
“Modest growth at the end of 2020 is set to be followed by a substantial fall in output in the first quarter of this year as the current lockdown, the unwinding of Brexit inventories and disruption to UK-EU trade flows combine to suffocate activity.
“While the vaccine rollout offers optimism, with the scarring caused by the pandemic likely to crystallise as government support winds down and the prospect of persistent post-Brexit disruption, any recovery may be slower than the Bank of England currently predicts.
“The current drip-feed approach to support measures means firms cannot plan for more than a few weeks ahead. It is critical that the government swiftly implements a package of measures that support businesses and the economy for the whole of 2021, including removing the cliff-edges for business rate reliefs, VAT deferrals and furlough.”
The Kickstart Scheme has been underway since September 2020 and has now seen 120,000 16-24-year olds find employment.
The Kickstart Scheme, which is fully Government funded, is aimed at 16-24-year olds who are on universal credit and who may find it more challenging to access the world of work, which has been hit hard by the pandemic.
The scheme offers six-month work placements of which the Government will pay 100 per cent of the young persons’ age-relevant National Minimum Wage, National Insurance and pension contributions for 25 hours a week, which the employer can top up if they chose to in both salary and hours. In addition, the Government will also pay the employer £1500 for each young person they take on, to support any training or associated costs like uniforms that they might incur when setting up the scheme.
Recently it was granted that companies with less than 30 vacancies can now apply directly via DWP without using a Gateway, however, the Norfolk Chambers of Commerce is a recommended Gateway and without cost to you, will help you with your application and liaise with the DWP in ensuring your application is successful. We can also assist with any training needs you require from recommending and putting you in touch with training providers, as well as saving you time in the application process while making the whole process as smooth as possible.
For more information and to be part of this amazing youth employment programme, please get in touch via [email protected]