Chamber News

The Chambers Quarterly Economic Survey (QES), is the UK’s largest independent business survey and it is NOW OPEN for responses from local Norfolk businesses for Quarter Two 2023. The previous quarter’s QES showed that despite the uptick in business confidence, most firms see no improvement to sales. The BCC’s Quarterly Economic Survey (QES) for Q1 2023 shows that while business confidence has improved from a very weak base, most firms see no improvement to business conditions.

• Over half (52%) of UK firms believe their business turnover will increase over the next 12 months, up from 44% in Q3 2022.
• However, only one in three (34%) firms experienced an increase in sales over the past three months.
• Almost half (47%) of hospitality businesses reported a drop in cashflow in the last quarter.

Read the full results from Q1 2023 here. The survey takes less than three minutes to complete – it is anonymous and your support would be greatly appreciated. The QES 2023 Q2 is open for responses until midnight on Thursday 8th June.  Have your voice heard and take part in the QES today. Photo credit: Chamber Canva Pro

“Where Business Belongs” was the rallying cry of a new campaign from the British Chambers of Commerce, launched today at their Global Annual Conference in London. Alongside Grant Tuffs, Regional Engagement Manager from our Gold Patron Anglian Water, we took the voice of Norfolk businesses to the centre of Westminster. The packed agenda focused on issues critical to businesses across the country, including the Cost of Living, digitisation, decarbonisation, skills and economic growth. With keynote speeches and Q&As with the Chancellor of the Exchequer Jeremy Hunt, Leader of the Opposition Sir Keir Starmer and the Governor of the Bank of England Andrew Bailey, Chambers across the country heard first-hand the latest from both sides of the political spectrum and put some testing questions to decision-makers. Nova Fairbank, Norfolk Chambers of Commerce CEO said “This year’s conference has been a brilliant opportunity to make Norfolk’s voice heard and it’s been reassuring to hear that with a general election looming, both main parties are proactively engaging with business and in listening mode for the big issues facing our membership. What we need now is clear, costed manifesto commitments that will deliver on Norfolk’s big challenges and we look forward to contributing to that process and working with whichever party forms the next government to bring much-needed growth to Norfolk.”

Our third Bikers Breakfast event was another big success on Friday 12th May 2023! We kicked off the event by hearing from our sponsor, Westcotec. Westcotec has been at the forefront of the vehicle-activated sign industry since 2001. Based in the centre of Norfolk, they have grown to become one of the biggest suppliers of quality vehicle-activated signs in the UK. They have another busy year ahead exploring new exhibitions showcasing the importance of road safety with their road signs and bespoke projects. Chris Spinks, Managing Director of Westcotec and former Police Chief Inspector, has a real passion for road safety. Chris qualified as a Serious and Fatal Collision Senior Investigating Officer Roads, and using his experience allows him to assist clients with collision hotspot solutions and other road safety schemes. “I am so grateful to the Norfolk Chambers team who support us on our events. It is so important to raise awareness for road safety and work together with all Norfolk businesses,” said Chris Spinks. We were delighted to be joined by Gary Stevens (Funding & Marketing Manager), and Rebecca Bushell (Funding & Marketing Officer) of Nelson’s Journey, a charity that is a close partner of Westcotec. Since 1997, Nelson’s Journey has been supporting children and young people in Norfolk with their bereavement needs, helping them to understand and cope with their feelings. The charity also supports professionals in the county who work with children, such as teachers and health workers, to help raise awareness of issues affecting bereaved children. As the charity celebrates its 25^th year Gary Stevens and Rebecca Bushell shared the many options and ways how businesses and individuals can support the charity, from volunteering and fundraising to selling their products. The charity works closely with Hill Top to provide well-being days for children. All the funding the charity receives goes straight back into the services they provide. “We are incredibly grateful to Westcotec and Norfolk Chambers for the support for the charity, it is wonderful to see a breakfast event filled with positive energy and meeting new businesses along the way,” said Gary Stevens. Following these two fantastic speakers, the delegates were served a delicious full English breakfast from our hosts Barnham Broom. Next, we heard from Andy “Billy” Lawyer, Andy Micklethwaite and Iain Temperton from Safe Rider. Safe Rider is a joint initiative between Norfolk Constabulary and Norfolk County Council which aims to reduce motorcycle casualties. Billy expressed how proud he is to work at Safe Rider. He spoke about the importance of having tools that encourage riders to learn and process and, more importantly, be safe. Billy has taken part in being a team leader for the King’s Coronation and The Queen’s funeral. We were delighted to then be a part of a special surprise presentation to Andy Micklethwaite. Safe Rider was originally instigated and developed by Andy who has continued to be part of the safe rider team ever since. Iain Temperton, a Road Safety specialist, presented photos and key moments from Andy’s career and his values for Safe Rider. “We want to carry on the next 25 years by creating events to support and promote the community,” said Iain Templeton. We were then joined by Paul Sanford, the Chief Constable of Norfolk Police, who then presented a special recognition award to a shocked and surprised Andy! Paul Sanford expressed his gratitude and said that Andy’s work has saved lives on Norfolk roads. Paul continued that he is hugely proud of Andy’s work and achievements. We were shocked to hear when Paul highlighted the second biggest killer in Norfolk after suicide is road death. Our final speaker was Simon Weir, former editor of Ride Magazine and Journalist of Motorcycle travel books. Simon showcased his new book on holiday travel plan of Europe, where he starts off in France with amazing views across the country. He then moved on to Austria where he saw some of the best mountain passes, and he highly recommended Marziell. He then went onto the home of the Italian Job! Finally, he finished in Spain which is full of great riding routes and stunning scenery. Simon Weir said “Thank you, Tim James (Westcotec). It is a real honour to be a part of the Bikers Breakfast this year, this event highlights the importance of road safety and what brilliant business’ there are here in Norfolk.” We’d like to say a huge thank you to the team at Westcotec for supporting this event and once again raising awareness of road safety across. our county. Tim James, Design and Development Engineer said “As a long-term supporter of Safe Rider and Andy Micklethwaite, it was a privilege to be able to help arrange the surprise presentation. That we could also celebrate 25 years of Nelson’s Journey, and raise money for them, is the icing on a particularly enjoyable cake.” Due to the weather, we unfortunately were unable to close the event with a bike ride to the Norfolk coast, however, we hope to host a tour this summer. A big thanks go to our stand holders Nelson’s Journey, Norfolk Riders Rospa group and Safe Rider.

Director General of the BCC, Shevaun Haviland, is to urge the Government to reconnect with business as firms see no progress on the barriers to growth. She will speak out at the British Chambers of Commerce (BCC) Global Annual Conference 2023 on Wednesday, May 17. In her keynote address, she will urge Government to put business at the heart of its plans to revive the UK economy. And with a General Election less than 18 months away she will set out the keys issues that matter most to firms. She will say that only by addressing these can business confidence be regained after being battered and bruised by the pandemic, the fallout from the war in Ukraine and last year’s political chaos. ON THE DIGITAL REVOLUTION Shevaun is expected to say: “As we move forward into an increasingly digital age, it’s vital that we answer the crucial questions that firms are asking. “How can we use AI to revolutionise the way we operate? What policies could help us embrace its benefits?  And how can we safeguard against negative consequences and ensure no one is left behind in this new digital age? “At the Chambers, we’re led by one of Britain’s true digital pioneers. Our President, Martha Lane Fox has been at the heart of digital innovation. [We must] harness the transformative power of technology, tackle the challenges ahead and redesign our future.” ON GLOBAL BRITAIN Emphasising the importance of international trade in growing the UK economy, Shevaun will say: “Post-Brexit, the UK is figuring out its economic role in the world.  Both exports and inward investment are facing growing competition. “But it’s a problem we are well placed to help solve. We know how to find opportunities and partners all over the world and give businesses the tools to break into new markets. “We are working to ensure that the UK continues to be a great place to invest. “So that when global investors are deciding where to put their money, they see in the UK the conditions, talent, and access to finance that make it one of the best places in the world to invest.” ON GREEN INNOVATION She will bring her perspective as chair of the Business Advisory Group for the Climate Change Committee to outline the issues firms are facing: “The UK is a leader in green innovation but with the lack of direction by government, we are seeing the US and the EU moving ahead, and fast becoming a far more attractive opportunity for those businesses. “This is a huge economic opportunity for UK Plc. New global markets for low carbon products and services are worth an estimated £1trn to the UK by 2030. Let’s not turn our back on that.”

British businesses and consumers will soon be able to reap the benefits of the UK’s first trade deals negotiated from scratch since leaving the European Union with the agreements set to come into force this month. Expected to increase bilateral trade with Australia by 53% and with New Zealand by 59% in the long term, the two game-changing free trade agreements are anticipated to go live across all three countries from midnight on 31 May. Both trade deals will drive economic growth and innovation across the UK, Australia and New Zealand through the removal of tariffs on all UK goods exports, open unprecedented access for services, cutting of red tape for digital trade, and by making it easier for UK professionals to live and work in Australia and New Zealand. It comes just weeks after the UK concluded negotiations to join the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), a free trade area worth £9 trillion, putting us at the heart of a trading powerhouse. Business and Trade Secretary, Kemi Badenoch, said: “With these two deals the UK is using our status as an independent trading nation to tailor agreements to our country’s economic strengths. Alongside our recent conclusion of talks to join CPTPP, the government is forging a bold new future alongside the world’s most dynamic and fast-growing economies. “Putting these trade deals into action will help create new opportunities for business, boosting wages and helping spur economic growth.” Head of Trade Policy at the BCC, William Bain said: “It is good news to hear that the free trade agreements with Australia and New Zealand will finally come into force at the end of the month.  “These deals will lower tariffs, simplify customs procedures, allow for greater freedom of movement for labour and provide stronger market access for the UK’s world-leading services sector. “But the success of any free trade agreement comes down to whether businesses use it, so it’s vital the Government shouts from the rooftops about these new opportunities. “A recent BCC survey also found almost a quarter of firms (23%) said finding a business partner or distributor overseas would encourage them to either start exporting or export more. “We have strong Chambers in both Australia and New Zealand and will be working with them to get the most out of these trade deals for all our economies.”  Services are central to the UK’s economy, accounting for around 80% of its economic output and workforce, and one of its biggest export success stories. The provisions in these deals complement our strengths and will help deliver on the PM’s priority of growing our economy. UK professionals from scientists and researchers to lawyers and accountants will have access to Australian work visas without being subject to its changing skilled occupation list. Brits will also be able to work more freely in New Zealand through commitments which enable UK service suppliers to deliver contracts. Other UK benefits include:

• Investment opportunities and access to government contracts, including putting British businesses on equal footing to compete for an additional £10 billion of Australian public sector contracts per year and high investment screening thresholds for UK investors in New Zealand
• Tariff free access to both markets for all British goods and flexible rules of origins, giving businesses a competitive edge over international rivals
• Reaffirmed commitments to the Paris Agreement and opportunities to grow our low-carbon economy, with tariffs on environmental goods liberalised
• Removal of UK import tariffs on majority of goods from Australia and New Zealand, reducing prices for UK consumers on favourites such as wine and manuka honey and lowering costs on machinery parts for UK manufacturers
• Progressive rules on digital trade and free flow of data, cutting red tape for SMEs and easing trade while protecting intellectual property, brands and innovations

There are robust protections for British farmers in both deals, including staging tariff liberalisation for sensitive goods over time. Both countries are key members of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), a huge trade bloc in the Indo-Pacific. The agreement is expected to enter into force on the 31 May, subject to finalisation of UK domestic procedures with remaining changes to UK law coming into force at the end of May. More information on the UK-Australia free trade deal can be found on GOV.UK and the GREAT website. More information on the UK-New Zealand free trade deal can be found on GOV.UK and the GREAT website.

Reacting to the latest ONS GDP figures, David Bharier, Head of Research at the BCC, said: 

“The first estimate of GDP for Q1 2023 of 0.1% growth indicates the UK is avoiding a recession and shows the resilience of businesses who are having to weather serious headwinds. 

“However, this also means we’re in a period of virtually no growth. The core issues affecting British businesses, such as unprecedented inflation, energy price shocks, and record tightness in the labour market, have not gone away. 

“A further rise in the interest rate will also impact firms that have resorted to using finance to manage cash flow.  

 “The Government must now act fast and set out a plan for economic growth to mitigate the impacts of these shocks. Businesses need to see a reduction in the cost and burden of trading internationally, particularly with the EU, as well as support for those continuing to be hit by record energy costs.” 

Reacting to the latest ONS Trade data, William Bain, Head of Trade Policy at the BCC, said: 

“The picture for global trade in the first quarter of 2023 is creating serious challenges for UK exporters, with a drop off in services as well as goods. While a pick-up in global demand is likely to develop in the second half of the year, we need action now to address both the cyclical and structural factors holding back UK export growth. 

“Labour market concerns appeared to act as a brake on any further services growth during March. Removing inflationary effects, UK services exports, which make up the bulk of our overseas sales, are still 0.9% below their pre-pandemic levels. The Government needs to do more to remove non-tariff trade barriers that are frustrating firms and make a big push to improve take up of free trade agreements.” 

Detailed Analysis of UK trade Data 

Q1 2023 

Figures for March revealed a further drop in both goods imports and exports, concluding a weak start to the year. Across the quarter, UK goods exports values declined by 3.2%, and goods imports by 7.5%. Services exports values fell by 2% across the quarter. Taking goods and services trade overall, there was a fall in UK exports values of 2.6% between January and March 2023, and in imports of 6.8%.  

March data 

After taking inflation into account, goods imports values fell by 2.1% in March and goods exports by 2.7%. Although imports of goods with the EU remained static, there was a decline in goods imports trade with the rest of the world in March of 4.7% – driven by lower fuel and oil imports, and across cars, transport, machinery and other manufactured goods. Good exports to the rest of the world fell by 3.6% and to the EU by 1.7%. In services, UK exports increased by 0.8% in March, and imports by 0.3%. 

Trade Deficit 

Reduced imports across the quarter led to a fall in the overall UK goods and services trade deficit from £15.1bn to £10.2bn in Q1 2023.  

On the  26 April at Newmarket Racecourse we held the Norfolk and Suffolk LSIP Co.llaboration Event, which showcased the extensive employer engagement which has taken place, detailing the analysis and key findings in which businesses are communicating the regions skills gaps and needs. We heard from businesses and stakeholders through panel discussions about the challenges being faced by employers, LSIP Theme Analysis Findings and Colleges & Provider Solutions to Skills Priorities. There were opportunities for the audience to put questions to the panels which created engaging conversation. The conversations that took place are key in enabling us to develop the programme to suit the region’s needs. It was clear all shared the passion, determination, and desire to support skills development to meet the future skills needs. Key messages from the day:

• It was clear that apprenticeships are still a key focus for local providers within the region and this was demonstrated by Harry Harris of SWARM who shared his enthusiasm and willingness to support businesses with apprenticeships.
• There is a need for consistent language to be used in the skills landscape with clear definitions of where to access skills and funding our employer panel made up of local businesses of all sizes echoed these comments.
• Encouragement of the coming together or private and FE training providers, to further support the local skills required for businesses to continue to grow in Norfolk and Suffolk
• Nova Fairbank (Norfolk Chambers CEO) provided an update on next steps, which included many of the themes of the day – greater sharing of works well, encouragement of closing working relationships between business and the further education sector, aligned with national and local polices.

Now is the time to keep the momentum going and to drive the skills agenda forward in true LSIP Co.llaboration style. A big thank you to our brilliant hosts John Dugmore – CEO of Suffolk Chambers of Commerce, Nova Fairbank CEO of Norfolk Chambers of Commerce and Dean Pierpoint, LSIP Project Manager of Norfolk Chambers of Commerce, along with our fantastic panellists, everyone who attended and to Newmarket Racecourse for providing such a great venue and service. For more information on the programme, please email [email protected] Norfolk and Suffolk LSIP LinkedIn Group: Stay connected with the latest research, surveys, events, news and discussions

Skills was the primary focus at our recent Norfolk & Suffolk Local Skills Improvement Plan (LSIP) Co.llaboration event at Newmarket Racecourse.   The event showcased the extensive employer engagement across both counties and the collaborative work undertaken with many key stakeholders, including colleges, independent training providers, local authorities, the DWP, universities and many others around the region’s skills gaps and needs. Through a series of interactive panel discussions, we heard the employer’s perspective, the provider perspective and the findings of four deep-dive pieces of work around the LSIP’s themes and cross-cutting themes: Agri-tech/Food Processing, Net Zero, Soft or Impact Skills and Digital Workforce Skills. Opening the event, John Dugmore, Chief Executive of Suffolk Chamber of Commerce said: “Skills development supports the local economy, but is also important for our social landscape – supporting young people coming in to work with the right attitudes is just as important as training up managers to effectively run the business.  The LSIP has been listening to employers, but it is also there to highlight that our partners in education establishments and the independent training providers are already doing great work in this space and whilst there is always more work that can be done to ensure that we exploit all the opportunities available to us, as we’ll see this afternoon, we start from a very strong position already.” The LSIP Project Manager, Dean Pierpoint, facilitated the panel discussions and commented on the clear shared the passion, determination, and desire to support skills development to meet the future skills needs by all involved. Key messages from the discussions:

• Apprenticeships are still a key focus within the region and this was demonstrated by Harry Harris of SWARM who shared his enthusiasm and willingness to support businesses with apprenticeships.
• There is a need for consistent language to be used in the skills landscape, at present employers are not understanding the skills language used by providers and the Department for Education.
• Encouragement of the coming together or private and FE training providers, to further support the local skills required for businesses to continue to grow in Norfolk and Suffolk
• Now is the time to keep the momentum going and to drive the skills agenda forward this can only be achieved with continuous ongoing engagement with both employer, providers and all relevant stakeholders.

Nova Fairbank, Chief Executive of Norfolk Chambers rounded the afternoon off by outlining the next steps for the LSIP, including how the LSIP will move forward into Phase II.  Commenting on the hard work done to date by the LSIP team she said: “Investment in skills is a priority to support Norfolk and Suffolk businesses and the LSIP and all our partners and stakeholders are collaborating to achieve this.  The final LSIP Report will be submitted to the Secretary of State for Education by 31 May 2023.  However, the submission of the LSIP report is not the end – just the end of the beginning.  The LSIP report is not a document that will sit on a shelf gathering dust.  It becomes an ongoing, living, breathing, evolving document that is a template for business and skills engagement across Norfolk and Suffolk.  This can only be achieved by continued ongoing close collaboration with our wide range of stakeholders and businesses across Norfolk and Suffolk.” For more information on how to get involved with the Norfolk and Suffolk LSIP, please email [email protected]. To get involved with the LSIP’s work and to have your say, please visit the Norfolk and Suffolk LSIP LinkedIn Group: Stay connected with the latest research, surveys, events, news and discussions ?  

Reacting to the news that the trade deals with Australia and New Zealand will come into force on May 31, Julie Austin, International Trade Quality Manager at Norfolk Chambers said: “It is good news to hear that the free trade agreements with Australia and New Zealand will finally come into force at the end of the month. “These deals will lower tariffs, simplify customs procedures, allow for greater freedom of movement for labour and provide stronger market access for the UK’s world-leading services sector. “But the success of any free trade agreement comes down to whether businesses use it, so it’s vital the Government shouts from the rooftops about these new opportunities. “A recent BCC survey also found almost a quarter of firms (23%) said finding a business partner or distributor overseas would encourage them to either start exporting or export more. “We have strong Chambers in both Australia and New Zealand and will be working with them to get the most out of these trade deals for all our economies.” Further details on the trade agreements can be found here, for Australia, and here, for New Zealand. Find out how the Norfolk Chambers could support your business with International Trade here.

Entries are now open for the Eastern Daily Press Business Awards 2023. The theme for this year is those heroes, the team members that are the difference between success and failure. We are pleased to see so many of our members involved with the awards already, with several being sponsors of the award categories and local Charity and Norfolk Chamber members, Walking With The Wounded being named EDP Business Awards Charity of the Year for 2023. The award categories are:

• Norfolk Business of the Year, sponsored by Barclays
• Customer Excellence Award, sponsored by Greater Anglia
• Digital Business of the Year, sponsored by Upp
• Environmental & Sustainability Award, sponsored by Norse
• Large Business of the Year, sponsored by FRP Advisory
• Positive Impact in the Community Award, sponsored by Vattenfall
• Rising Star of the Year, sponsored by Birketts
• Growth Business of the Year, sponsored by Ashtons Legal
• Employer of the Year
• Director of the Year
• Small Business of the Year
• Medium Business of the Year
• Outstanding Achievement Award, sponsored by Barclays

Find out more about the categories here Entries can be made here, please note the deadline for entries is Sunday 16th July.

Reacting to reports that the sunset clause might be removed from the Retained EU Law Bill, William Bain, Head of Trade Policy at the BCC, said: “Over the past few months, the BCC has consistently put forward a strong business case to remove the uncertainty caused by an imminent sunset clause for retained EU law. “If Ministers are now considering a more pragmatic approach this would be greatly welcomed. Firms have been battered by the pandemic, energy costs, inflation and rising interest rates, but their confidence in the economic outlook has been starting to grow. Now is not the time to knock that with a hasty sunset clause across vast areas of UK regulation. “But it would appear the Government has been listening and we welcome the opportunity for further dialogue. Businesses are keen to see reform which removes barriers to growth, where appropriate, that keeps costs down and avoids divergence within the UK internal market.”