Chamber News

Chamber business leaders from across the United Kingdom have today (Tuesday) written to the Prime Minister calling for a renewed focus on tackling the barriers to growth and investment in the United Kingdom – and a radical plan for action.  

Gathered today in Manchester, Chamber business leaders are calling on the Prime Minister to balance the importance of securing the best possible deal with the EU with the urgent need to set out a compelling vision for UK growth and a bold set of domestic policies to fix the fundamentals at home.

Business communities throughout the UK are concerned about perceived inaction in Westminster and Whitehall on key domestic economic matters – where attention and swift action are needed for the UK to succeed after it leaves the EU.

Writing on behalf of the 53 accredited Chambers of Commerce from every region and nation of the UK, Dr Adam Marshall, Director General of the British Chambers of Commerce (BCC), says:

“Our future success depends not just on Brexit negotiations, but also on the big economic decisions that must be made here in the UK. It is time, Prime Minister, for you to set out a compelling, pro-enterprise and pro-growth vision for the future, and a bold set of domestic policies to make it happen.

“It is time for you to tell business communities across the UK how your government will act – fast – to stabilise the faltering training and apprenticeship system and give clarity on migration rules, as businesses face unprecedented labour and skills shortages all across the country.

“It is time for visible action to rebuild our rutted and potholed roads, to use the resources of the state to build more homes, and to speed up the delivery of airport, rail and energy upgrades.

“It is time to eliminate the significant gaps in mobile and digital connectivity that continue to strangle business productivity and UK competitiveness – the central theme of our ‘No More Not Spots’ campaign.

“It is time to set a new mandate for HMRC and economic regulators to support, rather than pursue and punish, the small and medium-sized firms that can drive future growth, and focus their enforcement activities on the small number of companies pursuing questionable practices that are ultimately paid for by the rest.

“After decades of delay and incremental change, it is time to tackle the huge costs and complexities of the UK tax system, which actively discourage investment, risk-taking, and the stronger export performance we all want to see.

“And it is time for your government to deliver a far more explicit blueprint to support economic growth in all regions and nations – including greater local decision-making, away from the centralising instincts of Westminster and the devolved administrations.

“Prime Minister, the many thousands of firms we collectively represent are clear: business as usual is not good enough at a time of significant uncertainty. A concerted drive to ‘fix the fundamentals’ would unlock business confidence and investment – and set the UK on a path to long-term growth, alongside a comprehensive settlement between the UK and EU.” 

Click here to view the letter sent to Teresa May, Prime Minister.

The first three months (Q1) of 2018 saw the UK’s total trade deficit (goods and services) narrow by £0.7 billion to £6.9 billion.

The shift was mainly due to falling goods imports from countries outside the EU, according to the Office for National Statistics (ONS).

In its latest Statistical Bulletin: UK Trade: March 2018, the ONS reveals that the trade in goods deficit narrowed £1.5 billion with non-EU countries and widened £0.4 billion with the EU Member States in 2018 Q1.

The narrowing goods deficit with non-EU countries was largely due to falls in imports of machinery and transport equipment (mainly ships and aircraft), and miscellaneous manufactures (mostly clothing and works of art) of £1.3 billion and £0.5 billion respectively over the quarter.

According to the ONS, the fall in imports of goods from non-EU countries was due to declining volumes as import prices rose in the three months to March 2018.

Over the longer period of 12 months to March 2018, the total trade deficit narrowed £13.3 billion to £26.6 billion. That was due, the ONS explains, to export growth of 9.2% exceeding a rise in imports of 6.4%.

During that same 12-month period, the UK’s trade in goods deficit with the EU narrowed £2.9 billion, while with non-EU countries it widened by £0.7 billion.

The positive export figures were welcomed by International Trade Secretary, Liam Fox, who pointed out that the falling trade deficit will help households across the UK feel the benefits of a stronger economy.

“It is clear evidence,” he said, “that the world wants to buy high-quality UK goods and services, and my department is putting the country in a position to benefit.”

Speaking during a visit to Scotland, Mr Fox also highlighted a 21% rise in exports of Scotch Whisky, which are now worth £4.4 billion.

Norfolk Chamber HR Forums are designed to inform your business of all the changes and developments in employment law. This special two-part session on 20 June, delivered by expert speakers from Howes Percival, Nicola Butterworth and James Mee will Focus on flexible working requests and settlement agreements. Part 1 Employers are increasingly facing requests for flexible working from their employees.  A hasty decision about flexible working can, in certain instances, lead to claims for discrimination, detriment, and/or unfair dismissal. In this practical and comprehensive HR Forum, Associate Solicitor, Nicola Butterworth will explore a range of issues that can arise when dealing with flexible working requests and provide tips on how best to approach such requests and protect the business from facing potential claims.  Part 2 Estates and Trusts Practitioner, James Mee will focus on the legal and practical issues surrounding settlement agreements, including strategies for negotiation and key changes to the tax treatment of termination payments. Keeping up with recent HR and legal updates is crucial for anyone in business. Suitable for: • HR specialists • Employment relations specialists • Employee representatives • MDs/CEOs • Owners of small and medium sized businesses

To find out more or book your place click here

Testimonials “I really enjoy the forums and learn a lot from them.” – Linda Holt, Blue Sky Professional Development “Really useful; they take a difficult subject and explain them clearly” – Rachel Harrison, The Forum Trust

With sanctions very much in the news at the moment in the context of the Iran nuclear deal, the Office of Financial Sanctions Implementation (OFSI) has produced a timely factsheet offering information and advice in relation to arms embargoes, trade sanctions and financial sanctions.

Having to comply with the various types of sanctions imposed by the UN, the EU, the UK and others can be difficult for both importers and exporters, OFSI agrees.

To help affected businesses, the 11-page question-and-answer style guide (which can be found at assets.publishing.service.gov.uk) aims to answer questions relevant to those involved in importing and exporting goods and services, especially in areas where financial sanctions are in force.

The publication addresses general questions about financial sanctions, such as “Should I consider financial sanctions when importing to or exporting from the UK?”.

Not surprisingly, the answer is “yes”, with the advice being to consider not only who and where the goods or services are coming from or going to, but also who is shipping them (is a sanctioned vessel being used?), and whether a designated person is subject to financial sanctions even though they are located outside the country in which your business is operating.

In relation to licensing, the guide considers whether an OFSI licence is required if a business already has an export or trade control licence (the short answer is “you may do”), and what OFSI licensing grounds might apply to importers and exporters.

Questions about financial sanctions along the export chain are also considered, including “Do financial sanctions apply to import and export agents?”. With agents such as couriers, express operators and freight forwarders being responsible for their own due diligence, the answer is again “yes”.

Finally, financial sanctions breaches and penalties are covered and there is also a section on sources of further information.

Find out more about sanctions, embargoes and restrictions here. 

The British Chambers of Commerce, together with the accredited Chamber Network, including Norfolk Chamber, run Britain’s largest and most influential private business survey – the Quarterly Economic Survey (QES).  The next fieldwork period for the QES will start on Monday 21 May 2018 and will be open for 3 weeks. 

But why should your organisation take part?  Nova Fairbank, Norfolk Chamber’s Public Affairs Manager outlines why she wants more input from Norfolk businesses:

“The QES is Britain’s largest, and longest-running, private business survey and it’s a leading economic indicator – often picking up big changes in the economy long before other surveys or official statistics.  With the uncertainty of Brexit and the UK economy effectively treading water at present, it is more important than ever that as many businesses as possible take part. 

“By completing the QES you are helping to identify how strong our local economy is and how well it is performing against the national averages. Norfolk has many dynamic and innovative businesses, we need to have a strong voice and ensure our region gets the credit and investment that it deserves.”

Below are just a few more reasons why your organisation should take part in this important economic survey:

1. It’s provided consistent data since 1989, and regularly receives over 7,500 business responses. Compare that to the average business survey, which garners only a few hundred responses.

1. Norfolk responses represent over 34% of the responses from the East of England.  (East of England includes: Norfolk, Suffolk, Cambridgeshire, Essex, Hertfordshire and Bedfordshire).

1. The Bank of England’s Monetary Policy Committee uses the QES as one of its key benchmarks when setting interest rates.

1. HM Treasury and the independent Office for Budget Responsibility use the QES to put together their forecasts for the UK’s economic performance.

1. The Organisation for Economic Cooperation and Development (OECD) and the International Monetary Fund (IMF) use the QES when comparing the UK to competitors worldwide.

The more Norfolk businesses that take part – the louder the voice of the Norfolk business community will be. 

Details of the previous QES results from Q1 2018 can be found under Policy on the Chamber News section of the Chamber website. 

So what can your business do to contribute to the QES?  During the fieldwork period, the survey can be completed electronically.  There are several ways to access this online survey either:

• Use the link within the Chamber Policy news article or;
• Use the link that the Chamber can send direct to you

To be added to the Chamber’s QES email list, please contact Nova Fairbank or Jack Edwards.  Emails: [email protected] and [email protected].

The online survey takes less than 3 minutes and your input is vital to help ensure that Norfolk business has a strong collective ‘voice’.

Mental health awareness week (14th-20th May) has put employee wellbeing at the forefront of all organisations agendas. Norfolk Chamber are pleased to announce that we are continuing this focus at our next Great Yarmouth Business Breakfast on Thursday 21 June at Great Yarmouth Town Hall. The average person now sits for roughly 10 hours a day, this sedentary lifestyle plays a big part in contributing towards the UK’s obesity epidemic. We are being joined by Floyd Sayers, Flomotion and award winning interior designer Louise Ives-Wilkinson to discover how the environments we work in can have such a great impact on our health and wellbeing.   Floyd has been working at Flomotion for 3 years and believes that to do our best we need to feel good and that means focusing on the body and mind, leading to more productivity, engagement and improved health and wellbeing. He will share Flomotion’s knowledge and expertise around sit-stand desks, active seating and accessories. Alongside their health and wellbeing initiatives promoting movement, exercise, stretching, breathing and mindfulness. Louise, whilst taking time out from designing to raise her family, fell ill from post-natal depression and anxiety. During the time spent battling these illnesses Louise realised the huge impact your internal environment can have on your health and wellbeing. When starting to research deeper into the field, her studies led her to Biophilic design. Starting with her home, she set about creating a sanctuary which would help reduce her depression, lower her stress levels and increase her sense of wellbeing. After her recovery and realisation of the growing mental health crisis, Louise identified a way to help others through interior design. She changed the focus of her design business to incorporate proven design methodology to create a holistic approach to interior spaces. The breakfast event will give delegates the opportunity to learn, network, build relationships and enjoy a breakfast with fellow Chamber members. To find out more about the event, or to book a place: CLICK HERE.

This is the fourth in an annual series of ground breaking Tech Nation reports that give deep insight into the UK tech ecosystem to further the understanding of the sector’s key challenges, opportunities and trends for the year ahead and beyond.

It highlights the unique strengths of clusters and considers how to support their growth in an evolving political climate. The Norwich Tech cluster features continued growth and highlights the growing number of digital/tech jobs, as well as the strengths and challenges faced by digital and tech companies in our region.

Overall the UK has cemented its position as a global tech leader. 

Its digital tech sector is a shining light not only in Europe but also on a global scale. In London, 33% of tech company customers are based outside the UK, compared to 30% in Silicon Valley and 7% in Beijing.  The report shows that the UK’s global connections are key to domestic success.  With 25% of the world’s entrepreneurs reporting a significant relationship with two or more others based in London, a figure beaten only by Silicon Valley.

Jobs in digital tech are on the rise. 

From 2014 to 2017 digital tech sector employment rose 13.2%. In Norwich the digital tech jobs rose to a total 13,411 in 2017.  UK workers are more productive, on average, by £10,000 per worker. Jobs requiring digital tech skills command higher salaries, at £42,578 compared to £32,477 for those that do not.  Only 19% of the digital tech workforce is female. Despite the stereotype that digital tech jobs are for millennials, 72% of workers are aged over 35.

In survey, the Norwich cluster identified the top strengths as:

1          Appealing area

2          A helpful tech community

3          Proximity to a university

Whilst the top three challenges were identified as:

1          Limited infrastructure

2          Access to talent

3          Bad transport links

There’s still time to book your early bird stand at B2B 2018. You can save £50 on the cost of your stand if you book online by Friday 25 May.

Celebrating its 20th year in 2018, the B2B Exhibtion brings together the finest business minds in Norfolk and beyond, giving you access to hundreds of businesses contacts that are looking for bright ideas and are keen to explore new opportunities.

B2B 2018 is the region’s premier business to business exhibition, offering your business a unique opportunity to maximise visibility of their brand, raise your profile and show Norfolk what you can offer.

Booking early not only saves you money, but offers you priority booking to reserve your preferred stand location.

Find out who’s booked their stand here

To book you stand click here

Any questions? Email [email protected] or call 01603 729 708

Our commitment to your privacy

Here at Norfolk Chamber of Commerce we respect your privacy and are committed to protecting it. As you know there are changes in data protection law, so we wanted you to know we’ve updated our privacy policy.

Your trust and protection of your data is important to us, and we want to make sure you understand what these changes mean for you. This Privacy Policy is designed to inform you of our policy and practices and to tell you of the way your information is collected and used.

Norfolk Chamber ensures that any data received will be processed in accordance with the General Data Protection Regulation.

As result of GDPR we have recently sent a number of emails to our contacts to opt-in to continue receiving our email marketing. If haven’t yet responded and want to keep receiving email communications from us, you can sign up here. 

If you have any questions about how we manage your data please call 01603 625977 or email [email protected]

Commenting on the labour market figures for May 2018, published this week by the ONS, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:

“With unemployment declining and employment levels continuing to rise, the latest data confirms that the labour market remains a bright spot for the UK economy. However, while the latest figures are likely to reinforce the MPC’s hawkish rhetoric, labour market data tends to lag behind the wider economy, so any broader weakening in economic conditions wouldn’t be expected to appear in the figures for some time.

“While regular earnings growth continues to marginally outpace inflation, the decline in UK productivity in the first quarter is a clear warning sign that positive real wage growth should not be taken for granted. While businesses are reporting some upward pressure on pay, sluggish productivity and high upfront business costs are restricting the extent to which wages are able to rise.

“More needs to be done to support firms looking to recruit and grow their business, including tackling the high input costs faced by businesses and addressing the chronic labour shortages that continue to undermine the UK growth prospects.”

Commenting on the labour productivity statistics, Suren added:

“The fall in the first quarter is disappointing and shows that the recent pick-up in productivity was relatively short lived. The decline in the quarter was driven by weaker than expected GDP growth outturn in Q1 and the recent pick-up in hours worked.  

“The persistent weakness in UK productivity reflects the longstanding structural problems in our economy from a chronic skills shortage, to our creaking infrastructure and the escalating cost of doing business in the UK. Delivering solutions to these key business concerns would help boost investment and drive the productivity gains we need to boost the UK’s long-term growth potential.”

The holy month of Ramadan will begin on the 16th May 2018 and end on or around 14th – 15th June 2018

During this period the Arab British Chamber of Commerce will adopt, as in previous years, shorter working hours, Monday to Friday (10.00am – 3.00pm).

Equally, all Arab Embassies will also have shorter working hours, therefore, delays in documentation turnaround may be experience.

Furthermore, please note that at the end of the holy month of Ramadan the Embassies will close for several days. 

Please do ensure that documents are presented in good time, so as to avoid disappointments.

Great news, the new edition of Norfolk Voice is out! This edition May/June focuses on GDPR. In our main feature, you will find an eight-page GDPR pull out with all you need to know, to get really for the 25 May 2018.  Read about Dr Adam Marshall in our big interview, who is driving forward the British Chamber of Commerce, he gives us an insight into his vision, and challenges ahead for businesses.

Don’t miss out on how you can apply for the BCC Awards, and Norfolk Business Awards. We want to celebrate your great work in this region, so get that application filled in! In addition, we talk to Michael Baldwin from Bank House about his role as General Manager and President of the West Norfolk Chamber Council.

You can access the Norfolk Voice in several forms, digitally and of course print. For the digital version click on the link below. https://issuu.com/distinctivepublishing/docs/nv46

Don’t forget we love to hear from you and your businesses, your successes, your awards and creative journeys. You can get directly with Dominique on the email below.

If you would like to receive a hardcopy of the Norfolk Voice magazine please do let me know. [email protected]