The current lack of connectivity severely inhibits movement in Great Yarmouth resulting in congestion and ultimately limiting the economic potential of the town. Particular areas that could be affected include: the Great Yarmouth Enterprise Zone, the Energy Park, the South Denes Business Park and the deep water outer harbour.
Neil Orford, President of Great Yarmouth Chamber Council said:
“The new crossing would provide much needed connections between the strategic road network and the fat growing energy related Enterprise Zone. It provides linkages across the River Yare to the economic growth hub on the South Denes peninsula. The additional crossing would also support tourism, which is worth £577m per annum to Great Yarmouth and create jobs for 30% of the local workforce.”
Norfolk County Council is holding public consultations to find out about transport issues in Great Yarmouth and how its proposal for a third river crossing might affect people living, working and visiting the area.
They will be presenting the details of the Third River Crossing proposal at the Chamber’s Great Yarmouth Breakfast on Thursday 19 January.
You can have your say on the Third River Crossing online or Norfolk County Council have more consultation events throughout January in the town, where people can drop in to talk to representatives from the County Council and Great Yarmouth Borough Council about its proposal to build a third bridge across the River Yare, as well as the town’s wider transport needs.
Thursday 26 January, 10am – 4pm, Great Yarmouth Town Hall
Saturday 28 January, 10am – 3pm, Great Yarmouth Library
Norfolk County Council previously carried out a public consultation on a third river crossing in 2009, in which 92% of people supported a new crossing. The government have now given them the opportunity to bid for funding to move the bridge into the planning and detailed design phase.
If successful they could be looking at construction in 2021. As part of this they want to give you another opportunity to give your views on the Third River Crossing and transport in Great Yarmouth. Your views will form part of an outline business case to government in March 2017.
Commenting on the trade statistics for November 2016, published by the Office for National Statistics, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:
“The widening of the UK’s trade deficit in November is disappointing, and signifies a considerably weaker trading position than the average for the year. While exports increased slightly in the month, this was more than offset by a record rise in imports, confirming that there is little evidence that the fall in the value of the pound is boosting the UK’s overall trade balance.
“Trade is likely to make a greater contribution to UK GDP in the next few years, as the persistent currency weakness feeds through into improved price competitiveness for some exporters, and diminishes demand for imports. However, the extent of any improvement is likely to be curbed by subdued global trade growth, and the higher cost of imported raw materials.
“In order to achieve a meaningful improvement in our export performance, the government must do more to provide businesses with direct support to access new markets.”
Construction of Norwich Northern Distributor Road (NDR) is on course to pass another significant milestone next week when the bridge that will carry the dual carriageway over Plumstead Road becomes the first to have its main beams lifted into place.
There are eight bridges on the 20km route of the NDR, six going over the dual carriageway, and two carrying the NDR where it goes over Plumstead Road and the Norwich to Sheringham railway.
Plumstead Road closure Plumstead Road will be closed for up to three days from early (between 4 and 5am) on Tuesday 17 January, reopening as soon as possible on Thursday 19 January. The duration of the closure will depend upon progress – the crane cannot lift if the wind is much stronger than a moderate breeze.
Altogether 26 concrete beams will be lifted into place after being brought by road from Ireland. The lifts will mainly be carried out during daylight hours, but work will continue overnight to fit GRP* deck panels ready for the bridge deck concrete to be poured.
Chris Sedman, Project Director for main contractor Balfour Beatty, said: “Getting the first bridge beams in place is another important milestone – especially since it is at Plumstead Road. Along with the adjoining railway bridge, it’s one of the key structures on the route. We aim to have the steel beams over the railway in place in April, and once we are able to bring bulk material across the railway we will be able to focus on the Middle Road bridge.”
Ian Taylor, Project Manager for Norfolk County Council, said the support of the local community was greatly appreciated. “We know that sometimes we cannot avoid making life difficult for people, but we have been heartened that so many share our view that completing construction as soon as possible is best for us all.
“Sharp frosts early in December stopped us getting these beams on before Christmas and unfortunately the road closure now coincides with the longer-term Anglian Water closure on Plumstead Road East close to Aerodrome Road. We apologise for the inconvenience caused. For anyone affected by both closures, using Salhouse Road and Norwich Ring Road will be worth considering.”
Caroline Williams CEO Norfolk Chamber said:“We welcome every milestone which gets us closer to the completion of the NDR. We do not want to see any further delays which could cause the motorist aggravation and hold up the benefits of this new road.”
Q3 UK GDP growth revised up and latest QES points to solid growth in Q4.
Higher inflation and uncertainty over Brexit likely to weigh on UK’s growth prospects.
US Federal Reserve raises interest rates and further rises are likely in the coming months.
UK growth was revised upwards with a recorded growth of 0.6% against an estimate of 0.5%. The upwards revision was driven by stronger business and financial services output. The latest Quarterly Economic Survey showed that both the manufacturing sector and the service sector increased. There results suggest that the UK economy grew in line with historic trends.
UK inflation continues to rise, with prices of clothing and motor fuels being the main contributors to this rise. The outlook for UK growth remains weak, with continued uncertainty over Brexit weighing down future growth prospects.
The US Federal Reserve raised interest rates by 0.25 percentage points to a target range of 0.5% and 0.75%. This is the first increase since December 2015. Further rises in US interest rates are expected in the coming months which will place further downward pressure on the value of Sterling.
HM Revenue & Customs (HMRC) has awarded Harwich International Port Authorised Economic Operator (AEO) status.
The authorisation recognises, HMRC explained, the high standards achieved and maintained in relation to the movement of goods and the application of customs procedures.
AEO status is an internationally recognised quality mark indicating that an operator’s role in the international supply chain is secure, and that its customs controls and procedures are efficient and compliant.
The AEO regime operates under the EU’s Union Customs Code and is administered in the UK by HMRC. AEO status gives quicker access to certain simplified customs procedures and in some cases the right to fast-track shipments through some customs procedures.
General Manager of Harwich International Port, Daren Taylor, said: “The AEO application procedure is extremely thorough and this certification provides an assurance to shippers that procedures at Harwich are of the highest standard. AEO accreditation can help simplify administrative procedures for goods being moved internationally and helps remove risk from supply chains.”
Felixstowe was the first UK port to receive full AEO status in September 2014.
Similar to last year, Lulu Hypermarkets, a large UAE based supermarket,are looking for new British products for showcasing at their Best of British Festival in April this year.
Lulu puts on a Best of British Festival every year, which runs for 10 days usually in April or May. During the festival they showcase and highlight all the British brands they already stock, along with new products which they procure just for this festival. Depending on sales/demand, those new products then get an opportunity to continue supplying to Lulu even after the festival.
Last year, 100+ UK companies were introduced to them, out of which they selected products of 18 companies which were showcased at their festival. They are now placing regular orders with a handful of those 18 companies.
The plan is similar for this year’s festival. They want us to source out new UK companies, which they haven’t dealt with before, to get their products stocked at Lulu Hypermarkets in time for the festival.
Below is the criteria you would need to meet:
Categories interested: free from products, organic, healthy foods Type of companies: manufacturers only – no consolidators, distributors or any other intermediaries Note: Companies shouldn’t be already supplying to Lulu Hypermarkets in Dubai (either via Y International, other consolidators or UAE distributors).
If you wish to put your name forward forthis great opportunity, please send us an email. Deadline for all applications is 31 January 2017.
The British Chambers of Commerce (BCC) today (Thursday) publishes its Quarterly Economic Survey – the UK’s largest and most authoritative private sector business survey. Based on 7,250 responses from companies in Q4 2016, the results show the uptick in Q3 in the manufacturing sector has been sustained in the final quarter, and more service sector firms were expecting growth than they were just after the EU referendum.
Overall, the findings suggest growth in Norfolk will continue in 2017, albeit at a more modest pace.
The survey results show that having slowed in Q3 2016, growth in Norfolk’s domestic sales and orders rose considerably in the service sector for Q4, although they have not bounced back to the levels last seen in 2013. The fall in Sterling looks like it is benefitting some manufacturers, with export sales and orders continuing the rise started in the last quarter. Manufacturing exporters started 2016 in negative territory, with export order balances at -8% but they finish 2016 in a very positive position, with an export order balance at +22%.
The survey also indicates that manufacturer’s confidence in future turnover and profitability has continued to increase throughout the year. Balances for hiring expectations and investment in plant and machinery also rose this quarter, again highlighting growing confidence for Norfolk’s manufacturing firms.
Norfolk’s service sector have not been as confident through 2016. They started the year with a negative balance for export sales (-3% in Q1) and the negative balances lingered throughout the year, dropping further to -12% in Q3, but finished stronger in Q4 with a positive balance at +11%. Turnover and profitability for the Norfolk Service sector also finished positively with turnover at +35% and profitability at +20%. Both of these balances are at lower levels that they were in Q1 2016 (+55% and +41% respectively).
However, the survey found that firms in both sectors, particularly in manufacturing, are facing pressure to raise prices, principally as a result of the cost of raw materials and other overheads.
Commenting on the results, Caroline Williams, Chief Executive of Norfolk Chamber of Commerce said:
“As we start 2017, Norfolk businesses are continuing to trade through uncertainty, and are looking to seize opportunities as they arise. The QES findings suggest that business communities across Norfolk and the rest of the UK remain resilient, and many firms are expecting continued growth in the months ahead.
“Inflation has emerged in our survey as a rising concern for many businesses. Both manufacturing and services firms say they are under pressure, particularly from the rising costs, which are squeezing margins and may weaken future investment. “It is therefore vitally important that our local Councillors, together with our MPs, work hard on our behalf to bring investment into our County to help improve the business environment in order to encourage business growth.”
Key Norfolk findings in the Q4 2016 survey:
Overall, the figures for both sectors indicate continued expansion, but at a lower level for the services sector than before the EU referendum
There was a considerable rise in the balance of firms in both sectors expecting the prices of their goods and services to increase over the next three months, with the balance for manufacturers rising from +29% to +55%. This is the highest on record in the manufacturing sector, and the highest since Q2 2011 for manufacturing firms. This pressure is predominately as a result of an increase in raw material prices following the post-referendum devaluation of Sterling
In the manufacturing sector, the balance of firms reporting improved export sales remained broadly steady, slightly increasing from +13% in Q3 2016, to +18%. The balance for export orders is +22%, a rise from +13% in the previous quarter. Both balances have shown a marked increase from the same quarter last year, where they both languished in negative territory (orders at -3% and sales at -8%)
Domestically, the balance of manufacturers reporting increased sales rose from +7% to +24%, and those reporting increased advance orders rose by 10 points to +10%. The balance for services firms rebounded slightly, after falling considerably in the last quarter. Domestic sales were up from +10% to +24% and orders rose from +0% to +20%.
The percentage of manufacturing firms reporting recruitment difficulties decreased from +86% to +78%. Whilst the service sector recruitment difficulties increased from +55% to +68%.
In the last three months, the balance of service sector firms hiring more staff rose from +9% to +19%, although manufacturing firms reported only say a slight increased from +32% to +34%.
Having dipped in the last quarter, the manufacturing sector are reporting higher balances of firms investing in plant and machinery, with an increasing balance from +13% in Q3 to +27% this quarter.
More firms in both sectors are reporting confidence that their turnover will increase. The balance of manufacturers rose from +39% to +63%, while services increased from +28% to +35%. While confidence in profitability also rose from +13% to +52%, it rose from +6% to +20% in the services sector.
Commenting on the National results, Suren Thiru, Head of Economics at the BCC, said:
“Having slowed significantly in the previous quarter, the UK services sector has rebounded, although it’s not yet back to levels seen at the start of the year. Nonetheless, the service sector is likely to have been the key driver of growth in the quarter.
“Manufacturers, particularly those that export, continue to report positive indicators. However, while some firms will be benefitting from the depreciation in the value of the pound, there is currently little evidence that it is providing a material boost to overall export growth. The UK’s manufacturing base continues to struggle with long-term structural issues, with businesses continuing to report considerable recruitment difficulties. The government must work to address the skills gap, while also ensuring that businesses have access to the workers they need from overseas.
“There is further evidence that rising prices will be a key challenge to the outlook for the UK economy over the next year, with the significant rise in the cost of raw materials increasing the pressure on firms to raise prices in the coming months. While growth is likely to have remained on trend in the quarter, the UK’s growth prospects in the near-term are expected to be more subdued, weighed down by rising inflation and the uncertainty surrounding Brexit.”
Get the New Year off to a great start and make the most of your Chamber membership with some valuable business networking. Meet up with other members, share business knowledge and interests, strengthen current business relationships and establish new ones.
Norfolk Chamber runs successful networking breakfasts in Norwich, Great Yarmouth and West Norfolk with guest speakers, networking activities and a delicious breakfast.
If early mornings aren’t your thing, we run fun evening networking such as our Superbowl Challenge on 26th January as well as cocktail evenings and fashion shows throughout the year.
The date for this year’s premier business to business exhibition is Thursday 12 October 2017. The B2B Exhibition takes place at Norwich City Football Club across two floors and last year had 750 visitors with over 90 stands. Early bird discount now available on stands.
More interested in content than making connections? Why not join us for some valuable business training on social media, finances or marketing. We also offer free bitesize training ‘Chamber Sessions‘ exclusively for our members.
Don’t forget to check out our member’s directory we have over 900 members in total, you can search by industry and location to find the right business to work with.
A huge congratulations to our Chief Executive, Caroline Williams for being awarded a MBE in the Queen’s New Year’s Honours List for services to the Norfolk business community.
The chief executive of Norfolk’s chamber of commerce for almost 17 years has been made a Member of the British Empire. Mother-of-two Caroline Williams, who lives in Salhouse, said she was “thrilled and humbled” to receive the accolade. The 64-year-old joined the chamber in 2000, having previously worked as an international buyer and an account manager in Dereham.
At that time, she said the organisation had been “limping along” and was in a poor state financially. But over the following years, Mrs Williams, assisted by fellow members, transformed the chamber into a strong and sustainable position.
“I think one of the biggest achievements is that Norfolk’s business community is now visible in Westminster,” she said. “It understands that it can make a difference, and the chamber has worked as a good facilitator between the Government and the business community.”
The title is a among a string of accolades Mrs William has picked up this year. As well as becoming a qualified yoga teacher, she also received the EDP Outstanding Business Award. She will be stepping down from her role in April to focus on training business leaders across the county.
Read more about Norfolk Heroes recognised in the EDP here
Last month, the European Commission invited comments on its plans to enter into negotiations to update the EU-Mexico free trade agreement (FTA).
Now, as part of its commitment for a more transparent trade policy, it has published six initial European proposals for modernising various elements of the agreement. It has also made available a report on the round of talks that took place in Mexico between 22 and 25 November.
EU Trade Commissioner Cecilia Malmström explained: “Sixteen years have passed since the current EU-Mexico became effective. Today we need to adapt it to a new trade reality. We’ve had some good initial talks with our Mexican counterparts but to reach a good agreement we also need constructive engagement from interested parties.”
Since the existing EU-Mexico agreement entered into force in 2000, EU-Mexico trade in goods has increased by 180% and amounted to €53 billion in 2015.
The texts presented by the EU in the latest negotiations aim to increase participation of European companies in Mexican public tenders, and vice versa, and to increase co-operation on imports requirements related to food safety, plant and animal health.
The Commission is also keen to facilitate trade in energy products and raw materials and to define more flexible rules of origin (establishing what products can benefit from lower customs tariffs).
More generally, the proposals seek to reduce unnecessary regulatory barriers to trade and to increase the part of trade benefits that go to small companies.
Whether or not a country is granted Market Economy Status (MES) by the EU sounds like a rather arcane economic argument but it can, in fact, have a huge impact on that country’s exports.
This is because MES is used to calculate anti-dumping measures when the EU decides to take action against a country, which it believes is helping exporters to sell into the EU market at unrealistically low prices.
If an exporting country is not accepted as having MES, in other words if its costs and prices are not market based, then it will face much higher anti-dumping duties as the European Commission seeks to protect European industries from unfair competition.
China has been pushing for MES from the EU for some time and its patience seems to have run out as it has now turned to the World Trade Organization (WTO) for redress.
It has opened a dispute process at the WTO with regard to both the EU and the USA, claiming that both use unfair “calculation methodologies” in anti-dumping proceedings.
When China joined the WTO, existing members were given a 15-year period during which they could treat it as a non-market economy if dumping duties had to be calculated. However, that period ran out on 11 December 2016 and China has wasted no time in demanding that it be granted MES.
It was reportedly angry that the EU had imposed anti-dumping duties on its steel products, still treating it as a non-market economy just a few weeks before the WTO’s deadline. China described this decision as protectionist.
Under WTO rules, the parties to a dispute must discuss the matter and try to find a satisfactory solution without proceeding further with litigation. Only if consultations have failed after 60 days can the complainant request adjudication by a WTO panel.