Commenting ahead of the latest GDP results, Caroline Williams, Chief Executive of Norfolk Chamber of Commerce said: At present Norfolk business confidence is high and the Norfolk and East of England business communities are resolute in their determination to take the recovery from being good to being truly great.
The recent British Chambers of Commerce Quarterly Economic Survey (released 7 January), showed that firms from all sectors across Norfolk believe they can create jobs, invest, and export. It is especially pleasing that the spurt in manufacturing has proven not to be a fluke, which demonstrates the dynamism of our small, high value, manufacturing sector. But Norfolk businesses have major ambitions, and to be able to meet them, more support must be provided. Cashflow continues to be an ongoing concern, and may hold businesses back from expanding to meet the growing levels of demand. We must give companies the opportunity to get the finance they need to go out and trade in the world if we are to succeed in rebalancing the economy.
In the manufacturing sector, key balances are at all time highs, and domestic balances in the services sector continue to break new ground. The strong export and investment balances confirm that business in the East of England is set to play a key role in rebalancing the economy.
One such example is Great Yarmouth based, Dabbrook Services Ltd who has had great success in exporting. Their first successful large export was to Kuwait in 2010, where they supplied and commissioned remote solar power systems.
Anna Smith, Finance Manager for Dabbrook said “Being one of the few companies worldwide able to offer the expertise to the design, manufacture and installation of Remote Power Systems, we are very active in exporting worldwide and to the Middle East in particular, having just successfully completed a $1.2m project, we are in the final bidding stages for a further $3m contract. With the help of Norfolk Chamber of Commerce and UKTI we are exploring further afield for new opportunities.”
Prior Diesel Ltd, operates in oil, gas, marine, power and construction industries and is also based in Great Yarmouth. They too have accomplished export success. Chris Conroy, Managing Director said:”In the last twelve months we’ve exported to over sixty different companies across the globe and we expect that number to increase this year.”
