The region’s premier business exhibition, B2B 2017 has once again sold out with more than 100 exhibitors! Returning to Norwich City Football club on Thursday 12th October, the exhibition will see two floors of the football club filled with leading Norfolk businesses, showcasing the latest products and services and sharing ideas that can help Norfolk businesses. This annual exhibition is a leading event in the region’s commercial calendar, attracting a diverse mix of exhibitors and hundreds of visitors keen to find new opportunities. This year is shaping up to be bigger than, with plenty of reasons to attend in 2017:
Meet face to face with Norfolk’s leading businesses.
We have a superb line-up of expert trainers delivering free 20 minute masterclasses on core areas that can help you and your business.
There are lots of exclusive special offers, discounts and free giveaways
Unique networking opportunities with business leaders, directors, entrepreneurs and decision makers
B2B 2017 is completely FREE and open to all businesses. Book your advance ticket here to beat the queues on the day and be entered into a prize draw to win one of 4 Jarrold Vouchers.
On the occasion of the visit of a high-level Finnish business delegation to London, the British Chambers of Commerce (BCC), and the Finnish Chambers of Commerce (Kauppakamari) on 14 September 2017 jointly called for UK and EU negotiators to minimise trade barriers – and prioritise shared economic ties beyond Brexit.
There are strong commercial links between the UK and Finland: the UK imports £2.6bn of goods and services from Finland, and exports £2.7bn of goods and services to the country.
Science and Innovation are areas of very active cooperation between the two countries, with the UK and Finland working closely together on life sciences, digital, and low carbon technologies. There are a number of partnerships between the two countries, many of which are facilitated by the EU Horizon 2020 strategy.
The future of these projects, the long-term ease of trading between the UK and Finland, as well as the future status of Finnish nationals in Britain and British nationals in Finland, are all questions where British and Finnish businesses want negotiators to deliver clarity as soon as possible.
Dr Adam Marshall, Director General of the British Chambers of Commerce, said:
“As we welcome our Finnish colleagues to London, the vibrant trade links between our countries are yet another reminder of the importance of reducing any possible future trade barriers between the UK and the EU.
“Businesses want to minimise the risk to free-flowing trade with partners like Finland, and to avoid the creation of artificial new barriers that stop companies collaborating across boundaries. The on-going Brexit negotiations must seek to provide businesses with clear answers on practical issues including customs procedures, health and safety checks, and tax rules – and guarantee the status of nationals resident on either side.
“The links between innovative British and Finnish businesses are an important reminder that the Brexit negotiations must also deliver a framework for future collaboration between the UK and the EU on science and innovation.”
Dr Risto Penttilä, CEO of Finland Chamber of Commerce, said:
“The UK has been one of Finland’s strongest allies in promoting free trade and pragmatic reforms in the EU. The objective of the Brexit negotiations must be a European wide market that includes the UK, Switzerland and the EEA countries.
“Brexit must not lead to new obstacles or increased costs for companies from the UK, Finland or other EU countries. The UK is one of our most important trading partners, and a strong British economy will benefit both Europe and Finland.
“The Brexit process has reached a point where committed political leadership is needed both in the UK and the EU. Businesses, as well as citizens, need a clear roadmap for the years to come to ensure a smooth transition.”
We have been informed by the Iraqi Commercial attache in London, that as from 30th August 2017, all goods that have been produced outside of the United Kingdom (foreign origin) must now have a formal letter issued by the consignor confirming that the goods have been produced for thier benefit.
This letter must accompany all documents being submitted to the Embassy for legalisation.
Now entering its tenth year, the Norfolk Safer Community Awards offer the opportunity to support the excellent work of police officers, police staff and the community in helping to keep Norfolk a safe place to live, work and visit. Once again this year the Norfolk Chamber a proudly sponsoring The Chief Constable’s Special Recognition Award, this is awarded to an individual or team where their contribution to delivering the Constabulary’s performance has been significant yet under-recognised. The awards combine internal recognition with local communities voting for officers deserving of an award for their contributions to their local community. Additionally, if people know of an exceptional individual or group who deserve to be thanked they are encouraged to nominate them for an award. Jason Williams, Business Manager at the Norfolk Chamber of Commerce said:
“We have been honoured to support the NOSCAs for many years and are again proud to support the Chief Constable’s Special Recognition Award, as part ofour partnership working with Norfolk Constabulary. We congratulate all nominees for the contribution they have made and their continual efforts in ensuring Norfolk is a safe place to live and work.”
More information on the award can be found here: https://www.noscas.co.uk/
Employment Law experts, Oliver Brabbins and Robert Hickford of Steeles law delivered a thought provoking HR forum to 40 attendees yesterday (13.9.17).
Focussing on Preventing Discrimination in the Workplace, the speakers examined the Equality Act 2010 and gave a comprehensive review of the law relating to this sensitive are of HR management.
Attendees heard a review of a number of landmark cases of discrimination and harassment in the workplace and a roundup of other recent landmark employment law cases.
The next HR Forum, sponsored by Birketts, focuses on Employee Investigations and takes place on 08 November 2017. Find out more and book your place here.
Commenting on the labour market statistics for September 2017, released today by the Office for National Statistics, Nova Fairbank, Public Affairs Manager for Norfolk Chamber said:
“The continued rise in employment, coupled with falling unemployment, is further evidence that the Norfolk jobs market remains resilient, with firms continuing to recruit despite a softening economic picture.
“That said, the labour market continues to face a number of major challenges. With pay growth unchanged, inflation continues to comfortably outpace earnings growth, which is putting the brakes on consumer spending, a major determinant of UK economic growth. However, the continued weakness in real wage growth should give the MPC sufficient leeway to keep interest rates on hold, despite the pick-up in inflation.
“It is concerning that the number of vacancies remains well above the historical average – a further indication of the continued skills shortage faced by business, which is weighing on productivity and growth prospects. The latest research from the British Chambers of Commerce found that half of firms Norfolk and the rest of the UK had faced skills or labour shortages over the past year.
“A key priority for the Autumn Budget must be to support companies looking to recruit and grow their business, including tackling the high up-front taxes and costs of doing business in the UK. As the Brexit process unfolds, a key focus must be on delivering a post Brexit immigration system that reflects the needs of the UK economy.”
The European Commission has published its position paper on Customs Related Matters Needed for an Orderly Withdrawal of the UK from the Union.
This can be found at ec.europa.eu and particularly concerns the customs status of goods that enter, leave or transit the customs and tax territory of the EU or the UK, where the movement starts before and ends on or after the withdrawal date.
It argues that the basic approach to be followed should be that the rules applicable in respect of an operation when it is commenced should continue to apply to that operation until its completion.
“It is for the declarant to demonstrate the status of the goods (Union or non-Union) before the date of withdrawal and the fact that the relevant movement or entry into a customs regime was initiated before the date of withdrawal,” the paper states.
The Commission also calls for the eventual Withdrawal Agreement to set out the appropriate treatment in relation to VAT and excise duties and licensing requirements in those circumstances.
Responding to the paper, the British Retail Consortium (BRC) said: “On VAT specifically, we note that the Commission has recognised the need for a supplementary agreement, which is essential given that any new demand for upfront payments of import VAT could cause major cash flow headaches and additional red tape for firms.”
The BRC also argued, to ensure that supply chains are not disrupted and goods can continue to move between markets as efficiently as possible, that deals between the UK and the EU are also required on security, haulage, transit and drivers.
Global export orders show signs of levelling off, the World Trade Organization (WTO) has warned.
The claim is based on new data published in its latest World Trade Outlook Indicator (WTOI) which provides “real time” information on developments in world trade compared to recent trends.
By combining several trade-related indices into a single indicator, the WTOI measures short-run performance against medium-term trends.
The latest indicator suggests that global merchandise trade growth will continue to strengthen in the third quarter (Q3) of 2017.
The latest reading of 102.6 is higher than the 102.2 recorded in May this year and that, the WTO points out, suggests sustained momentum for trade growth. The score of 102.6 is, in fact, the highest level reached by the indicator since April 2011.
Although air freight, export orders and container shipping all performed strongly, they were balanced by weaker results in other indices including automobile production and sales.
Export orders are above trend, the WTOI reports, but they appear to have reached a plateau, which suggests that upward momentum in trade growth may have peaked. If that is the case, then trade growth is anticipated to moderate toward the end of the year.
The WTO stresses that, although the indicator suggests how trade might grow in the near future, it is not intended as a short-term forecast.
Rather, it should be seen as something that can help identify turning points and gauge momentum in global trade growth and as a complement to trade statistics and forecasts from the WTO and other organisations.
The two-page World Trade Outlook Indicator can be found here.
The British Chambers of Commerce (BCC) has today (Friday) slightly downgraded its medium-term outlook for the UK economy over the next few years. While the BCC has slightly upgraded its UK growth forecast for 2017 from 1.5% to 1.6%, its growth expectations for 2018 and 2019 have been cut from 1.3% to 1.2%, and 1.5% to 1.4% respectively.
The leading business group has slightly upgraded its forecast for 2017, driven by a moderately stronger outlook for consumer spending growth in 2017. While inflation remains elevated, it is expected to peak at 3% by the final quarter of 2017. However, inflation is still forecast to outpace average earnings until 2019, eroding real wages and weighing on consumer spending, a key driver of economic growth, in future years.
A weaker contribution from net trade and more subdued consumer spending growth were the main reasons for the slight downgrade to the BCC’s growth forecast for 2018. While the outlook for export growth remains unchanged, the rate of import growth is expected to increase, with little evidence that customers are switching from imported goods despite their rising cost. Falling real wages, and a slight weakening in labour market conditions, will see consumers rein in their spending in 2018. The slight downgrade for growth in 2019 reflects a lower contribution from net trade and weaker investment compared to our Q2 forecast.
The UK economy is expected to remain on a slow-growth trajectory for the forecast period, which reinforces the need for decisive action to boost the domestic business environment. The government must use the Autumn Budget to alleviate the burden of upfront costs facing companies, incentivise investment, and improve infrastructure.
Key points in the forecast:
UK GDP growth forecast for 2017 is upgraded to 1.6% from 1.5%, and is expected to slow to 1.2% in 2018 (downgraded from 1.3%), before rising to 1.4% in 2019 (downgraded from 1.5%)
Inflation of 2.7% is forecast for this year, and 2.9% and 2.5% in 2018 and 2019 respectively. The previous forecasts were for 2.9%, 2.8% and 2.5% respectively. Inflation is expected to peak at 3% in the last quarter of 2017, lower than our previous forecast of 3.4%, due to the slowing growth in input costs
Export growth of 3.1% is forecast this year,and is expected to slow to 2.9% in 2018 and 2.8% in 2019. This is unchanged from our previous forecast
Import growth forecasts have been upgraded to 2.9% in 2017, 1.5% in 2018 and 2.0% in 2019, from 2.5%, 1.3% and 1.8% respectively.
Consumer spending growth has been upgraded for 2017 from 1.3% to 1.5% but is expected to slow to 0.8% and 1.3% in 2018 and 2019
Business investment growth has been revised slightly upward for 2017 and 2018, to 0.4% and 0.8% respectively, but has been downgraded for 2019 from 1.2% to 0.9%, with some firms expected to bring some investment decisions forward
Our new forecast is that the first increase in UK official interest rates, to 0.5%, will occur in Q3 2018. This is two quarters later than predicted in our Q2 forecast
Looking at sectors, manufacturing has been upgraded from 1.2% to 1.4% in 2017 and is expected to grow at 0.7% and 1.1% in 2018 and 2019. Construction has been revised upwards for 2017, from 1.1% to 1.3% and is expected to grow at 0.7% and 1.0% thereafter. The services sector has been upgraded from 1.7% to 1.8% in 2017, and is forecasts to grow at 1.2% and 1.6% in the following years
Nova Fairbank, Public Affairs Manager for Norfolk Chamber said:
“While some Norfolk businesses report strong trading conditions, the overall UK economy is treading water, and there is no sign on the horizon of a return to healthier levels of growth.
“The BCC forecast suggests that the hoped-for rebalancing of the UK economy towards investment and export is unlikely to materialize in the medium term. The rising upfront cost of doing business in the UK, the uncertainty around Brexit, and the constraints created by skills gaps and below par infrastructure in Norfolk collectively outweigh any benefit arising from the recent depreciation of sterling. A cheaper currency does not automatically mean an export boom, no matter how some politicians and commentators will it to happen.
“The Norfolk business community needs to see action to boost confidence on two fronts: Brexit and the business environment here at home. A comprehensive Brexit transition deal, and a swift shift to focus on the future UK-EU trade relationship, are needed this autumn. Norfolk also needs an Autumn Budget that pulls out the stops to support business growth, at a time of significant uncertainty and change.”
Suren Thiru, Head of Economics at the BCC, said:
“The changes to our growth forecast suggest that the UK economy is likely to remain on a low-growth trajectory, and will be marginally smaller at the end of the forecast period than we predicted in the second quarter.
“It is increasingly clear that the post-EU referendum slide in the value of sterling has done more harm than good. Inflation is being driven by the sizable increases in the cost of imported raw materials over the past year, and is expected to remain a drag on consumer spending over the near term, with pay growth not expected to outpace price growth until 2019.
“The contribution of net trade to UK GDP growth is not expected to be as strong as we previously predicted, as we see little evidence that the depreciation of the pound is materially boosting the UK’s external position. While the outlook for UK exporters is for modest growth, imports are expected to grow at a faster rate than we previously forecast, with little evidence that consumers or firms are switching away from imports towards domestic alternatives despite their rising cost.
“Although there remains considerable uncertainty over UK’s growth prospects, the risks to our current outlook are to the downside. On Brexit, our forecast implicitly assumes a relatively smooth exit from the EU. A more sudden departure would be likely to trigger a far more marked weakening in economic conditions.”
Over 90 businesses came together last week for drinks, burgers and some networking. Norfolk Chamber Gold Patron, Migsolv, kindly hosted this event at their premises on Barnard Road.
Guests were greeted with complimentary ‘goody-bags’ and an open bar.
Throughout the evening delegates were able to attend tours of Migsolv’s high security data-stores to gain an understanding of how they work.
Jason Williams, Business Manager at the Norfolk Chamber said:“This was a fantastic event and we are very grateful to our Gold Patron Migsolv for hosting it. It gave a great setting for lots of productive and interesting networking and the added benefit of good quality food & drink and a very informative tour of the data centre was much appreciated”
The Department for International Trade (DIT) has confirmed that it is examining options for reducing tariffs on UK exports.
With concerns having been aired over the impact of a trade deal with the USA on the Scotch Whisky industry (see Brexit sparks fears of whisky galore), the DIT has moved to reassure businesses that it is seeking to make it easier for UK companies to benefit from post-Brexit trading opportunities.
Figures from the Food and Drink Federation (FDF) show that whisky, salmon and chocolate remain the UK’s top three export products.
DIT staff are now said to be looking at how future trade agreements, and stronger trade ties with key trading partners around the world, could reduce export tariffs for Scotch Whisky, smoked salmon and other iconic Scottish produce.
Tariffs can, of course, be a significant barrier to trade.
While the DIT says that those on smoked salmon average 13%, in the case of Scotch Whisky, tariffs can be over 150% of the value of the product with similar levels applied to gin.
Currently, any changes to export tariffs require negotiations at EU level. With the UK scheduled to leave the Union in March 2019, the DIT stresses that it is working now to assess which markets offer the most potential for UK export growth post-Brexit.
“Reducing the costs for companies to sell overseas will become one way of further opening up free trade routes and boosting sales,” International Trade Secretary Dr Liam Fox agreed.
The DIT also revealed that it has established 11 working groups to strengthen trade and commercial ties with key trading partners around the world, including: Australia, China, India and the USA.
Thiriving Great Yarmouth businesses are invited to step into the spotlight by entering the Spirit of Enterprise Awards 2017, which marks its 10th anniversary this year with the introduction of a special category, Business of the Decade.
Considered the most prestigious annual celebration of business excellence in the Great Yarmouth borough, the annual awards scheme is organised by enterpriseGY, Great Yarmouth Borough Council’s business support service.
Businesses are encouraged to put themselves forward for the various awards by noon on Monday, October 16. The awards are free-of-charge to enter online at www.spiritofenterpriseawards.co.uk and finalists will be profiled in a supplement in the Great Yarmouth Mercury, with winners appearing in a further supplement.
The special anniversary category, Business of the Decade, is open to all businesses in the borough – large or small – regardless of whether they have entered the competition before.
The finalists and winners will be showcased in the press and at a glittering awards ceremony and gala dinner at the Town Hall on Friday, November 17. The media sponsors are the Great Yarmouth Mercury and The Beach.
The award categories are:
Business of the Decade
Great Manufacturing/Engineering
Great New Business
Great Business Growth
Great Business Idea Great Customer Services
Great Family Owned Business
Great International Growth
Great Investment in People
Great Community Contribution
The Spirit of Enterprise Awards help to highlight the borough’s many and varied successful businesses, supporting one of the council’s priorities, which is to work with partners to help champion and enable economic growth and job-creation in the area.
In a joint statement, the council’s political group leaders, Cllr Graham Plant, Cllr Kay Grey, Cllr Trevor Wainwright and Cllr Adrian Myers, said: “The Spirit of Enterprise Awards are this year celebrating 10 fantastic years of recognising and raising the profile of top-performing firms across the borough.
“This wonderful showcase of successful businesses helps to boost confidence in the strength of the local economy, helping to create favourable conditions for investment, sustainable growth and job-creation.
“For the businesses themselves, having the chance to shout about and be recognised for their achievements brings important benefits, including raising their stature and reputation, and boosting staff morale.
“There are lots of brilliant businesses across the borough and we look forward to some strong contenders this year for both the title of 2017 Business of the Year and the special anniversary category of Business of the Decade.
“We must also take this opportunity to thank the 2017 sponsors, including main sponsor Stephenson Smart, without whom this wonderful celebration of business excellence would not be possible.”