Norwich City Council have released their latest economic barometer. The report highlighted:
Nationally
Bank of England unanimously vote to leave interest rates on hold
ONS figures highlighted that the UK trade gap with the rest of the world widened by £1.9bn
UK economy grew at its slowest rate since mid 2013
The Markit/REC report highlighted a slight acceleration in growth of permanent staff placements
East of England
Confidence in the region’s commercial property market remained strong and rents are expected to rise across all sectors
UEA’s Low Carbon Innovation Fund (LCIF) invested more than £70m during the first round of funding. It has supported 45 SMEs across sectors including renewable energy, automotive, technology and creative industries
The Association of Business Recovery Professionals R3 warned that delayed invoice payments were impacting on the region’s manufacturers. 27% suffered from late payment in 2015
Norwich
NUA’s Ideas Factory Incubation Centre for digital creative businesses has now been officially opened. It offers specialist incubation environment which is designed for digital creative businesses.
Norse Group has been shortlisted for one of the European Business Awards’ top accolades – Ruban d’Honneur status.
A drug development business, Inspiralis, has expanded from the John Innes Centre to the Innovation Centre
The Egyptian-British Chamber of Commerce has issued a summary of the latest changes taking place in Egypt regarding new regulations to export goods.
In December 2015, the Customs Law has been amended by the Egyptian Ministry of Trade and Industry, and the following are now mandatory:
All shipments should be presented with a legalised Certificate of Origin and a certified commercial Invoice (we do recommend full legalisation by the Egyptian Consulate in London) ;
The invoice should comply with Article 8 of the Customs Law – name, address and phone of the producer are required.
This was followed by the Decrees No. 991 & 992/2015 where registration of 24 products that are exported to Egypt for the retail market only have to be registered at the General Organisation for Export & Import Control. Full list of products and necessary documents is attached. The application can be submitted online MailGate warning: numerical links are often malicious: https://41.128.145.154/
Central Bank of Egypt issued instructions to regulate the handling of export documentation in an attempt to reduce fraudulent valuation of invoices. Therefore the importation process whereby payment is via cash against documents can only be conducted by delivering the documents directly to the foreign bank (UK based), then the foreign bank delivers it directly to the local Egyptian bank. It is prohibited for any customer to him/herself directly receive delivered documents.
Also, Central Bank of Egypt issued instructions that banks shall obtain a security deposit at the rate of 100% instead of 50% under the documentary credits opened for financing the import of commodities for account of the trading companies or governmental bodies. All exemptions from this practice can be found in the full version attached.
On the 22nd of February Central Bank of Egypt amended the initial instructions (paragraphs C&D) to further exempt some companies and items related to Bank-to-Bank documents handling.
CBE’s instructions are not interfering in any way with the Ministry of Trade’s requirements of documents legalisation. Export documentation should still be submitted for certification and legalisation as in paragraph A.
For more information please see attached documents and hope these and the above clarify the current situation.
Plumstead Road, which is closed between Thorpe End and Little Plumstead, will reopen as soon as possible on Friday, 11 March, but this may not be until the evening.
The road has been closed to all traffic since 22 February for cable diversion and other preparatory work ahead of construction of the double bridge carrying Norwich Northern Distributor Road (NDR) over Plumstead Road and the Norwich to Sheringham railway. Recent difficult conditions mean that the work may not be finished until Friday evening, although every effort will be made to bring forward the reopening of Plumstead Road so that it is available for the evening journey home.
The reopening of Plumstead Road will be followed on Monday 14 March by the closure of the nearby Middle Roaduntilthe 25March. It will then reopen to allow the closure in turn ofSmee Lane, for up to two weeks from 28March, andLow Road, for up to two weeks from 11April. When Middle Road closes again in late April, this will be the start of the long-term closure for construction of the Middle Road bridge over the NDR.
On the western half of the NDR, the long-term closure of Drayton Lane begins on Monday 14 March. Holly Lane will provide the diversion route.Drayton Lane,which is a popular cut-through between Reepham Road and the B1149 Holt Road in spite of some sharp bends, is being completely realigned to provide a new route for Holt Roadtraffic to the NDR.
The current round of staffed exhibitions is now well underway. Over 500 people have attended the first three, at Postwick, Spixworth and Hellesdon, to view the plans, and to find out about the construction programme, traffic management and road closures, and environmental protection measures.
Over the next two weeks there are exhibitions (all 3pm to 7pm) at:
Thursday 10 March – Sprowston Diamond Centre, School Lane.
Friday 11 March – Drayton Bob Carter Centre, School Road.
Tuesday 15 March – Great Plumstead Village Hall, Church Road.
Wednesday 16 March – Rackheath Holy Trinity Church and Centre, Salhouse Road.
Friday 18 March – Thorpe St Andrew Dussindale Community Centre, Pound Lane.
Monday 21 March – Taverham Village Hall, Sandy Lane
Evander Direct are delighted to announce our membership to the Norfolk Chamber of Commerce. As a small department operating within the larger Evander Glazing & Locks company, our aim is to raise awareness of the fantastic products and services available, and to market these directly to the customer. Evander Direct is a relatively new creation proving to be a real success within the home improvement industry – customers nationwide now have the opportunity to enhance and upgrade their windows, doors, garages and home security in an efficient, affordable and relaxed fashion, with no pushy sales tactics or confusing jargon to contend with. Evander Direct’s approach – which includes a free survey and no obligation quoting service, not to mention the high quality products and materials used – is one which is preferred by millions of homeowners across the UK.
Evander Glazing & Locks has been trading since 1984, but Evander Direct has only been active since late 2014. In that time, we have transformed the direct customer journey and have coordinated a complete overhaul of the website and marketing channels. Our small team is excited to be a part of the Norfolk Chamber of Commerce, and we look forward to the various events and networking opportunities as we continue to develop and grow.
On Thursday 25th February 80 Norfolk Chamber Members joined us at Holiday Inn Norwich North for an extremely eye opening morning on the topic of Cyber Security.
Host Rachele Kelsall of Hugh J Boswell kicked off the morning, introducing featured charity The History of Advertising Trust and our networking ice breaker. Delegates enjoyed some relaxed networking on their tables before our first speaker took the floor.
Stuart Sullivan of SGS Legal first shocked delegates with some figures on the increase of cyber-attacks, stating 90% of large business and 75% of small businesses have suffered a security breach. He highlighted some recent case studies and common issues made by businesses and stressed the importance of businesses asking themselves questions on how they’re preventing these attacks.
Following the talk, delegates tucked into a full breakfast, with most tables continuing to discuss Stuart’s presentation. We then proceeded to mix our delegates up in our Safari Move, swapping them to different tables to make even more connections.
Lynsey Sweales of SocialB Ltd took to the stage next, asking delegates ‘If your business isn’t using social media you are safe from a social media disaster?’ She covered case studies on social media disasters from employees to businesses and demonstrated the damage that could be done to the business. Lynsey highlighted most importantly that social media is here to stay, we live in a digital age and tightening your restrictions on social media is key to avoid disasters.
With a quick Q&A, Rachele closed the event with thanks to all our attendees, leaving time for more in depth one on one discussions between delegates and our speakers.
UK export growth continued to slow at the end of 2015, with manufacturers in particular struggling, a report from the British Chambers of Commerce (BCC) and DHL has shown.
Export sales and orders across both manufacturing and services sectors fell significantly in the last quarter of 2015, according to the latest Quarterly International Trade Outlook.
The survey’s Trade Confidence Index, measuring the volume of trade documentation issued, fell by 2.5% on Q4 2014 to stand at 114.46 in Q4 2015 – a decline of 0.9% on Q3 2015.
Among manufacturers, the balance of firms reporting improvements in export sales over the previous three months fell from +10% in Q3 to just +1% – the lowest level since Q3 2009 – while export orders dropped from +10% to +1%.
Export growth also dipped in the services sector, where the sales balance fell three points to +15%, and export orders fell to +9% from +16% – the lowest level since Q4 2011.
The key findings from the report are:
The Trade Confidence Index, a measure of the volume of trade documentation issued nationally, fell by 0.9% on Q3 2015, and by 2.5% on Q4 2014 – the index now stands at 114.46 From the BCC’s survey, the balance of manufacturers reporting improved export sales fell markedly to +1% in Q4 2015 from +10% the previous quarter, and export orders growth fell to +1% in Q4 2015 from +10% in Q3 2015 The balance of services firms reporting improved export sales over the past three months fell to +15% in Q4 2015 from +18% in Q3 2015, and export orders growth fell to +9% in Q4 2015 from +16% in Q3 2015
Julie Austin, International Trade Manager, Norfolk Chamber of Commerce, said:
“Norfolk exporters have faced considerable challenges in recent months. Slowing growth in China and the US, along with the continued weakness in the Eurozone, have made it harder for firms to build momentum.
“While the rate of growth has dropped significantly, exports are continuing to grow – a testament to Norfolk businesses, particularly in the face of such global uncertainty.
“However, if we are to reverse our longstanding trade deficit then Norfolk firms need greater practical support – access to finance, a skilled workforce and good infrastructure connections – if they are to successfully break into new export markets, and this needs to be a national priority for the UK otherwise we risk being left behind in the global race.”
Phil Couchman, CEO, DHL Express UK, said:
“Some areas of the UK – in particular Scotland, the North East and Northern Ireland – are showing strong growth in export volumes. However, with most regions experiencing declining volumes and the UK’s trade gap recently reaching an all-time high, it’s more important than ever that we concentrate on supporting more British businesses to export.
“The UK’s relentless demand for imported goods means that we need to work hard to significantly boost exports and strike the right balance.
“As the UK focuses its efforts on exporting as a way of securing the future of our economy, DHL will continue to support businesses and ensure that more and more organisations feel comfortable in taking that first step overseas.”
Small and medium-sized manufacturers reported a further small fall in export new orders in the three months to January but have seen “a very slight improvement” in February according to the CBI’s latest Industrial Trends Survey.
Firms’ optimism about their export prospects for the year ahead rose significantly (+13%) in January, compared with a fall (-14%) in the previous quarter.
According to the February report, businesses still expect output to grow in the coming quarter, with 30% predicting growth, and 19% a decline, giving a slightly reduced balance of +11%.
Rain Newton-Smith, CBI Director of Economics, said: “Despite the turbulence in emerging markets, economies such as China still represent a huge opportunity for British industry. A National Exports Commission, bringing businesses, trade experts and politicians around the table to advise on the policies needed to boost our export performance, would support manufacturers in selling their goods to key markets around the globe.”
The February survey of 497 manufacturers found 10% of businesses saying that their export order books were above normal, with 28% below normal, giving a rounded balance of -19%.
February’s level was an improvement on the previous month (-22%), and around average (-20%).
Ms Newton-Smith called on the Government to tackle the UK’s “outdated Business Rates regime” in next month’s Budget and to support investment through increasing the scope of capital allowances.
A European Commission initiative to promote greater transparency in shipping line prices has been welcomed by the UK’s Freight Transport Association (FTA).
The Commission has invited comments from interested parties on commitments offered by 15 container liner shipping companies.
The move is intended to address EU concerns that the practice of container liner shipping companies of publishing their future price increase intentions may harm competition and breach the Union’s antitrust rules.
Container shipping accounts for the vast majority of non-bulk freight carried by sea and 15 carriers have regularly announced their intended future increases for freight prices in various ways, including by notices on their websites and in the press.
Those carriers are: China Shipping (China), CMA CGM (France), COSCO (China), Evergreen (Taiwan), Hamburg Süd (Germany), Hanjin (South Korea), Hapag Lloyd (Germany), HMM (South Korea), Maersk (Denmark), MOL (Japan), MSC (Switzerland), NYK (Japan), OOCL (Hong Kong), UASC (UAE), and ZIM (Israel).
Known as General Rate Increase (GRI) announcements, the notices do not indicate the fixed final price for the service concerned, but only the amount of the increase in US-Dollars per transported container unit (TEU), the affected trade route, and the planned date of implementation.
The Commission is concerned that GRI announcements do not provide customers with the full details of new prices, but simply allow carriers to explore each other’s pricing intentions and then coordinate their behaviour.
If that were the case, carriers would be in breach of EU competition rules, which ban concerted practices between companies.
In response to the Commission’s concerns, the carriers have offered a number of commitments which would change the way price increases are announced and applied.
Welcoming the move, the FTA said the Commission’s action will introduce a degree of transparency into maritime transport pricing for the first time.
Commenting on the announcement of a deal by the Prime Minister – following months of intense negotiation on the future of the UK’s relationship with the European Union – John Longworth, Director General of the British Chambers of Commerce, said:
“Businesses across Britain will be relieved that the horse-trading between Westminster and Brussels is now concluded, and that the hard work of recent months could potentially deliver some benefits for the UK.
“The real test for the Prime Minister’s deal is whether it can deliver tangible benefits.
“On competitiveness, much relies on the Commission’s commitment to deregulation and to concluding meaningful free trade agreements. The necessary widening and deepening of the Single Market remains to be tackled. It is notable that there is no UK-specific opt-out from regulations that are not directly related to trade.
“On sovereignty, success depends on whether the UK opt-out from ‘ever closer union’ actually curbs the expansive jurisdiction of the European Court of Justice, whose activism hamstrings British businesses. Ensuring national parliaments, including our own, can actually stop EU proposals they deem damaging, is crucial.
“Safeguards for non-Eurozone countries will only feel real when all our firms – not just those in the City of London – believe that their access to markets and capital is secure. It is not clear if these vital safeguards are guaranteed.
“And on the complex and emotive issue of migration, what really matters is whether the UK has tools that allow it to balance the business need for labour and skills with the need for social cohesion. Given that its focus has been restricted just to benefits, the deal cannot substantially address this balance, or the consequent impacts on the UK economy and public policy.
“There is no certainty at this stage whether the deal’s outcomes are legally enforceable and irreversible. What’s more, the deal falls well short of the business expectations we set out nearly a year ago*.
“If delivered, this deal would change some aspects of the UK’s relationship with the EU. Yet it is inescapable that, deal or no deal, the EU itself remains largely unreformed.
“The choice facing businesses and businesspeople across Britain is now becoming clearer. For business, it is a choice between remaining in a largely unchanged EU, albeit with some potential new safeguards for the UK, or a future outside the EU, with the near-term uncertainty and disruption of leaving.”
On the UK Chamber network’s approach to the referendum campaign, Caroline Williams, CEO Norfolk Chamber said:
“Norfolk Chamber and the BCC will not be campaigning for either Remain or Leave, given the very real divisions that exist in business communities across the UK.
“In the months leading up to the referendum, we will actively survey business opinion and inform the debate without fear or favour. Additionally, we will be demanding clear information and facts from both the Remain and Leave campaigns so that businesspeople can make an informed choice at the ballot box.”
The British Chambers of Commerce Quarterly Economic Survey (QES) is used by the Bank of England and the Chancellor to plan the future of the UK economy and over 7,000 businesses across the UK take part.
The last Norfolk QES results showed that growth in both the service and the manufacturing sectors in Norfolk had slowed over the last quarter. In particular, nearly all the key Norfolk manufacturing balances remained stagnant or fell, which painted a picture of prolonged, slow manufacturing growth.
Businesses completing the previous Q4 survey, who represented 37% of the total East of England responses, reported positive economic growth, despite another tough quarter for the manufacturing sector with most balances falling. Norfolk’s export manufacturing balances were worst hit as they declined almost to the point of stagnation. You can see the full results for Q4 here.
Has your business recruited more new employees? Are you expecting your exports to increase? Let us know by taking part in this important economic survey.
The survey takes less than 3 minutes to complete, so please take the time to input into this survey to ensure Norfolk has a voice. The survey deadline is 5pm on Monday 14 March 2016.
In a world geared to more, how can we learn to stress less?
The problem for many of us today is that we live our lives in our heads. Continually judging, comparing and analysing, constantly distracted by emails, phone calls and texts, obsessed with updating our social media profiles. We bring work home, we bring home to work. There just doesn’t seem to be time in the day to find space for anything else.
It’s a stressful, anxious way of life, but what’s the solution?
Open your mind to the Power of a Pause
We believe the secret to putting stress on hold is to introduce the Power of a Pause into your everyday life. Two minutes in every hour when we stop, step back and clear the mental clutter.
Because when we open our minds to the Power of a Pause, we open new paths to personal happiness, improved health and a better way of life.
Meet the Human Business
The Human Business is a leading provider of Mindfulness training for individuals and organisations across the UK and Europe. Through our Intelligent Body Agile Mind (IBAM) programs, we address your physical, mental and emotional health by incorporating Qigong or Mindful Movement in our program.
Specifically designed for the office environment, the Power of a Pause is an IBAM program that teaches you how to combat stress and musculoskeletal pain in the workplace. Improving the quality of your life now, tomorrow and long into the future.
Recognise the Power of a Pause?You’re not aloneWith the world on permanent fast forward, it’s little wonder that many now recognise the benefits of pausing for thought with organisations such as Apple, Google, Virgin and the Deutsche Bank all becoming increasingly mindful of their employees needs.
Why not join them?
If you too can recognise the value of learning the Power of a Pause, why not take a moment to get in touch. The sooner you do, the longer you’ll have to enjoy the benefits of a healthier, less stressful way of living.
For more details and to book an introductory session, simply contact Deniz Paradot on 03330 118999 or [email protected]
China‘s economy is in the media every day, but what is the reality for UK companies in 2016?
The China-Britain Business Council will be hosting the 4th Annual China Business Conference on 22 March 2016 at the QEII Centre, Broad Sanctuary, Westminster, London. the Conferencewill analyse the key business issues affecting UK companies in 2016. From macro policies to the day-to-day business environment on the ground, expert speakers – drawn from business, academia and government – will equip you to make the right China business decisions.
The conference for 2016 will focus on:
The 13th Five Year Plan & The New Normal
Hong Kong as a ‘Super Connector’ – China to a wider Asia market
Innovation through Technology
Healthy China’? The Challenges and Opportunities
Belt and Road: Partnering in Third Markets
Made in China 2025: Sustainable Industrial Transformation
Reaching China’s Digital Consumer
For more information and to register please click here.