Chamber News

NatWest has announced plans to help at least 15,000 UK businesses export their goods or enter overseas markets by 2020.

Working with UK Export Finance (UKEF), the bank aims to provide export finance to help companies secure £2.5 billion of overseas contracts within the next four years.

Alison Rose, CEO of Commercial and Private Banking at NatWest, said: “When companies are ready, doing business overseas can have huge benefits. Businesses only trading in Britain limit their revenue potential to the UK, but each new overseas market represents a new possible source of income.”

She said that the bank will make it easier to trade overseas by developing online tools and more simplified products through digital transformation programme.

It will also work with UK Trade and Investment (UKTI) and other partners to drive UK exports, delivering regional workshops for businesses across the UK and showing firms the specific growth opportunities available to them.

NatWest will also work closely with UKTI and UKEF to make it easier for businesses to apply for schemes and to secure funding for exporting.

Lord Price, Minister of State for Trade and Investment, welcomed the news saying: “The Government and the banking sector share a joint aim – to help budding exporters realise their dreams of building a global business. By teaming up in this way, I hope we can inspire more British companies to take advantage of the world of opportunity out there and to make the most of the worldwide demand for their products, skills and expertise.”

Talks have started to establish a new trade and investment regime between the EU and Mexico, aiming not only to modernise the existing deal, but also to broaden its scope, to reflect similar agreements that both sides have since negotiated with other partners.

Trade relations between the EU and Mexico are currently subject to the provisions of a Free Trade Agreement (FTA) adopted under a wide-ranging Economic Partnership, Political Co-ordination and Co-operation Agreement signed in 1997.

Mexico was one of the first countries with which the European Communities established diplomatic relations over 50 years ago.

The EU is now Mexico’s second biggest export market after the USA, with the main goods exported from the Central American country to the Union being mineral products, machinery and electric equipment, transport equipment, and optic photo precision instruments.

The main services exported by Mexico are in the travel, sea transport, air transport and construction sectors.

Exports going in the other direction include machinery and electric equipment, chemical products, transport equipment and mineral products; services exported to Mexico are mainly in the travel, sea transport, air transport and computer and information services sectors.

The EU is Mexico’s third largest source of imports (8% of foreign trade) after the USA (67%) and China (9%).

It is anticipated that a new deal will further reduce customs tariffs and provide EU businesses with more opportunities to provide services, participate in public procurement and invest in Mexico.

Speaking at the launch of the negotiations, Trade Commissioner Cecilia Malmström described them as a new page in the history of EU-Mexico relations. For more information about EU-Mexico trade, see theEC Tradewebsite.

The holy month of Ramadan begins today (6th June 2016) and will end around 6th July 2016.

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.

Plumstead Road will close to all traffic, including cyclists and pedestrians, in the early hours of Monday, 6 June, for two weeks to allow piling work to be carried out for the bridge that will carry Norwich Northern Distributor Road over Plumstead Road.

Altogether 15 piles are needed each side of Plumstead Road to carry the bridge abutments, and the piling rig has to work too close to the road to allow it to remain open. Single lane working under temporary traffic lights is not possible because of the nearby railway level crossing.

Plumstead Road will therefore be closed between Thorpe End and Little Plumstead, as it was earlier this year for utility service diversions and other preparatory works. It will reopen for the weekend of 11th and 12th June, but will close again for the next week. It will reopen as soon as possible at the end of that week, and by Monday 20th June at the latest. (An update will be provided if work is likely to continue beyond the evening of Friday 17th June.)

The signed diversion will be via Broad Lane, Salhouse Road and Woodside Road. Middle Road is also being reopened to provide an alternative route, closing again once the piling work has finished and Plumstead Road has reopened.

Speed Limits

Temporary speed limits in use at NDR crossing points have been kept under review and a stretch of the B1149 Holt Road between Horsford and Holly Lane will be raised to 40mph. This will cover a short stretch of road between the Drayton Lane area of work, and the main work area around the Holly Lane junction. This change is subject to legal procedures, so the existing 30mph limit will remain in force until the signs have been changed.

The temporary speed limits are to protect the workforce and all road users, including cyclists and pedestrians as they pass through work sites which may feature traffic light controlled plant crossings, narrowed lanes (such as on the A140) and a variety of changes, distractions and hazards that were not in place a few hours earlier.

We’re looking for businesses to donate their time in helping students at Wymondham College with CV and Interview Skills.

Wymondham College are holding their ‘Get Set for Success’ Employability Day for Year 10 students during Enrichment Week and are looking for business mentors to work with small groups.

It takes place on Wednesday 29th June, with two sessions running, one in the morning and one in the afternoon, duration of session is two hours. Business mentors can choose to help out at one or both of these sessions, with groups of 6-8 students which are supervised at all times by school staff.

Printed booklets for both mentors and students, and mentors guide their group through the activities and discussions, covering skills and qualities, the basics of CV writing and interview skills, and ending with a mock interview.

If you are interested in volunteering, please contact:

Liz Edwards, Student Futures Coordinator – Wymondham College Email: [email protected]

Many schools across Norfolk have already benefited from free Careers Events organised by Norfolk Chamber that inspire, enthuse and motivate students to consider employment options available to them and think about their future career progression.

Successful careers events that involved workshops, speed networking and exhibitions have been held with Sprowston Community High School, Flegg High School and Attleborough Academy Norfolk.

We are looking for more state schools who want to take advantage of free careers events organised on their behalf for the next academic year (September 2016-July 2017).

We can tailor the event for each school and are flexible on duration, format and can provide marketing material to assist with promotion and we will liaise directly with a range of businesses to attend.

Participating schools would need to have a minimum of 250 students in Year 8 and above attend over the duration of the event.

If this sounds like something your school would like to be involved with, please contact:

Philippa Bindley, Events Manager Email: [email protected] Telephone:01603 729703.

Norwich City Council have released their latest economic barometer. The report highlighted:

Nationally

• UK’s trade deficit is at its biggest since 2008 – mire evidence of the weight of global economic weakness
• Consumer spending fuelled UK growth in the first 3 months of the year
• The ONS highlighted that UK industry fell back into recession – as it shrank for the second quarter in a row
• The number of workers on temporary contracts has risen at its strongest rate in over a year and wages growth remains likely to be stuck in the slow lane.
• The number of UK properties sold fell by 45% between March and April

Locally

• The East of England attracted more foreign investment projects last year than since any stage since the recession. This was helped by increasing overseas interest in Cambridge
• A new £7m, 595 space car park at Rose Lane has now opened.
• Kettle Foods, who employs 450 people reported a 5.4% reduction in sales for the year ending 31 July 2015
• The Chamber’s Quarterly Economic Survey is now underway. Deadline for responses is 13 June 2016 – complete the survey now
• Work has begun on the £12m Norwich based aviation academy, which will train the next generation of aircraft engineers.

For full details of the latest economic barometer click here.

The Department of Business Innovation & Skills (BIS), together with the Department of Culture, Media and Sport are exploring the barriers facing businesses in accessing affordable superfast broadband. As part of that review they have put out a ‘Call for Evidence’ to learn more about the broadband needs of businesses both now and in the future.

They are looking for feedback on the following areas:

Current and future business needs:

What do you consider your business broadband requirements to be and why? It would be helpful if you could consider upload and download speeds, price, reliability and any other relevant issues in your answer. Do you anticipate your broadband requirements to change in the future? If so, why and in what way? Are you confident in determining what your current and future broadband needs are and deciding what products you should choose? If not, please explain why. What further information would help you in determining your current and future broadband requirements and which products may be suitable for your business?

Availability and effectiveness of current provision:

Who provides your current broadband, what product do you have and how much do you pay per month? Do you use a dedicated leased line service? If so, please indicate whether this was a business decision based on your requirements or whether no suitable alternatives were available. Are you satisfied with the speeds you receive, the amount you pay and the service you get from your provider? If not, please set out why. What do you consider to be the main challenges or barriers to accessing the broadband provision for your business needs? Do these challenges include insufficient choice of provider or technology, and knowledge of the market? What impact do these challenges have on your business? What changes do you consider Government could make that would assist you in overcoming these challenges?

They would like to receive your input by email to the following email address: [email protected].

All responses need to have been submitted by no later than Friday 03 June 2016.

Marking Norfolk Chamber’s 120th anniversary, nearly 200 guests gathered at the historical Norwich Castle Museum on Thursday 19th Mayfor an evening of celebrations.

The wine was flowing as Norfolk Chamber took the opportunity to thank members for their continued support, treating them to an evening of entertainment including a live singer and event raffle.

Held in the stunning Keep at Norwich Castle Museum, guests had the opportunity to explore the Keep’s Basement and Prison Displays, as well as view artefacts sourced from Norfolk Museum Service and Norfolk Chamber, relating to the history of the Chamber. Included in the displays, was the recently refurbished Presidents Board which lists 48 influential and high profile presidents over the course of 120 years.

Speaking at the event Caroline Williams, Chief Executive of Norfolk Chamber said: “For 120 years we have stood for Norfolk, championing its commerce, celebrating its achievements and creating a network of likeminded people who, by sharing their knowledge and experience have created one of the most outstanding business networks in the country.

“Our mission has always been to look to the future of business, through good times and bad, in war and peace, under governments of every hue, the Chamber has been a voice for business, and a voice for Norfolk. Here for our members, because we are our members.”

During the event, Norfolk Chamber launched their Anniversary Fund in conjunction with Norfolk Community Foundation as part of an ongoing campaign. The aim of the fund is to encourage the growth and advancement of Norfolk’s young people, by creating opportunities to help them flourish in employment. Norfolk Chamber will match pound-for-pound every donation made up to £10,000 with the goal being to meet this target within 12 months. Grants will be made to suitable community projects towards the end of 2016.

To kick start the fundraising process, a raffle was held at the event, with 25 members kindly donating prizes from an iPad and Coffee Machine, to gift vouchers, including a meal for four people. Guests gave generously to the cause and Norfolk Chamber raised over £1,000 including the raffle on the evening.

As part of the year long anniversary activities Norfolk Chamber have sponsored the Norwich City of Ale Festival 2016. As a final thank you to members, guests received a special branded pint glass from Norwich City of Ale, as well as a 120 year printed supplement to commemorate the evening.

There was a fantastic atmosphere throughout the evening and Twitter was buzzing, with guests posting photos and tweeting their feedback using #Chamber120

NW Brown Group Ltd ‏@NWBrownGroup Great event last night to celebrate the #Chamber120 year anniversary, thank you for the invitation @norfolkchamber

James Elvin ‏@jimmyelvin Cheers to @norfolkchamber for a fantastic evening and also for another successful 120 years! #Chamber120

Lynsey Sweales ‏@LynseySweales Great @norfolkchamber event this evening to celebrate #Chamber120 what a great event! #Norwich #business

Today (Monday 23 May 2016) is the first day of the fieldwork period for the British Chambers of Commerce Quarterly Economic Survey (QES). It is the largest independent business survey in the UK and is used by the Bank of England and the Chancellor to plan the future of the UK economy. It is also closely watched by the International Monetary Fund.

Why should you complete the QES? – here’s why!

Norfolk Chamber needs your input to ensure that the Norfolk business community has a clear voice on our local and regional economy. You can have your say by completing the QES online NOW, it takes less than 3 minutes.

The completion deadline for this survey is midnight on Monday 13 June 2016.

Key findings in the Q1 2016 survey:

• Overall, the figures for both the services and manufacturing sectors indicated continued growth. However, this remained static across many indicators, and slackened in others.
• In the Norfolk manufacturing sector there continued to be a decline in both export sales and orders (-25) and (-33) respectively. Domestic sales moved out of negative territory from (-8) in Q4 2015 to (0) this quarter, however home orders fell further to (-9).
• However, more Norfolk manufacturing firms grew their workforce in the last three months (+2), but those expecting to recruit in the next 3 months declined to (+10) from (+18) in Q4 2015.
• The Norfolk service sector showed mixed results, with domestic sales falling (+21) and orders remaining static (+11); whilst export sales and orders increased (+9) and (+3) respectively.
• In both the Norfolk manufacturing and service sectors reported less difficulties in recruiting staff.
• Confidence in turnover and profitability for both services and manufacturing remains low by historical standards

More results from previous quarterly economic surveys can be seen by clicking here

Click here to complete the Q2 2016 QES now

Norfolk Chamber’s new King’s Lynn based Lite Nites Networking events kicked off with the inaugural event this week. Held at the Bank House Hotel, the informal free networking event was held from 6pm to 8pm with all local businesses being welcomed.

Heather Garrod, President of West Norfolk Chamber said: “It was a great way to end the working day. The event offered the opportunity for local business people to meet and network with like-minded peers.”

Hosting the event was Vice President of West Norfolk Chamber, Michael Baldwin, General Manager of the Bank House Hotel who said “The Bank House is very happy to support the local business community and the event was very well attended. The atmosphere was relaxed but with a great buzz and we are looking forward to hosting the next evening in a couple of weeks time.”

The events are open to all West Norfolk businesses and are free to attend. Places are limited, sobook your place now. The next event will be on Tuesday 7 June from 6pm – 8pm.

As the EU Referendum fast approaches and the assertions from both sides of the campaign escalate. Norfolk Chamber hopes to be able to help businesses in Norfolk make up their minds by sticking the just the facts. The ‘Europe: The Business Debate’ event on 10 June, hopes to be able to help local businesses make their final decisions.

In the meantime, the BBC has recently published its ‘Reality Check’ report. The report takes a critical view of claims made by both the Remain and Leave campaigners to see if they stand up to scrutiny.

Norfolk Chamber has highlighted just a few key areas that affect business in this article:

• Do we have a say over EU small business regulations?

The claim: Priti Patel says the UK has no say over the amount of regulation coming from the EU. She also says the UK is constantly being outvoted.

Reality Check verdict: The UK does have a say over regulations affecting small businesses, both through its MEPs and government ministers who vote at the Council, where they have been on the “winning side” 86.7% of the time in recent years. Read more detail here.

• Would staying in the EU reduce wages?

The Claim: The downward pressure on wages is a trend that will only get worse if we continue to have open borders with the EU.

Reality Check verdict: Migration does appear to have put pressure on wages, but there is some evidence that leaving the EU would reduce them even more. Read more detail here.

• Is £250bn of trade at risk from Brexit?

The claim: Leaving the EU would put £250bn of trade at risk, according to Britain Stronger in Europe.

Reality Check verdict: The group has taken a set of figures predicting the benefits of EU membership and used that to reach a figure for the risks of leaving. It would not necessarily work like that. Also, the figures include imports, a fall in which would not necessarily be a bad thing. Read more detail here.

• Are we giving £350m a week to Brussels?

The claim: “We are giving £20bn a year or £350m a week to Brussels.”

Reality Check verdict: We are not giving £20bn a year or £350m a week to Brussels – Britain pays £276m a week to the EU budget because of the rebate. Read more detail here.

• Do farmers outside the EU get more subsidies?

The claim: Farmers in certain non-EU countries get more money from government than their EU counterparts.

Reality check verdict: True – farmers in some non-EU countries do get higher subsidies, but no reason to think that would be matched in a post-Brexit UK.

To view the full BBC Reality Check and see all their verdicts, visit the BBC website.

Still have more questions? Then come and get your questions answered by local and national experts and join Norfolk Chamber for Europe: The Business Debate, on 10 June. Click here to book now.