Norwich City Council have released their latest economic barometer. The report shows that the Office of National Statistics reported that Government borrowing fell in the first six months of the financial year and historical data shows that Britain has experienced the strongest recovery of any G7 leading national in both 2013 and 2014.
Business optimism has increased for the first time since February and employment in the region is rising as firms expect growth to continue into 2016 according to BDO.
The latest Markit/CIPS survey data shows that the UK service sector continued to experience a slowing rate of growth, however the construction sector continued to grow, which has been attributed to the easing of pressure on the building materials supply chain.
Weekly wages in the private sector are now growing at an annual rate of 3.6%, which is more than three times the rate of the public sector. A recent FSB survey showed that 38% of small companies expected the plans for the new minimum wage to have a negative effect on their businesses.
A study by ResPublica showed that more people are renting from private landlord than at any point in the last 30 years. 22% of tenants are renting from private landlords and only 9% from public.
Norfolk County Council is to hold a fresh special meeting of the Council following a legal challenge to its decision to find an extra £9.9m for Norwich Northern Distributor Road. The meeting will be held on Friday 6 November (10.30am) at County Hall, Norwich.
On 2 September the Council voted by 59 votes to eight, with three abstentions, to accept offers by the Department for Transport and New Anglia LEP of £10m each towards a £29.9m increase in the cost of the NDR, and for Norfolk County Council to find the remaining £9.9m.
However, on 1 October a representative of the Wensum Valley Alliance announced a legal challenge to the way the Council reached this decision, and subsequently lodged an application for permission to seek Judicial Review on the basis that councillors were given ‘misleading information’.
Rather than contest this challenge, which could delay and increase the cost of the NDR, the Chairman of the Council, Cllr Rex Parkinson-Hare, has agreed to a further Extraordinary Meeting of the Council, which will be heldon 6 November. This will bring back the matter to members of the Council, to confirm they are taking the decisions with the requisite information before them.
At the meeting of the Council on Monday, 19 October, Council Leader George Nobbs warned Members that this further meeting might be necessary. He said the estimated cost of delay in construction of the Northern Distributor Road was around £0.5m a month.
Hear a quick policy update from Adam Marshall, Executive Director of Policy & External Affairs at the British Chambers of Commerce (BCC). He outlines his disappointment at the Competition and Markets Authority investigation report who appear to have ‘pulled their punches’ on the investigation into the SME banking market.
Norfolk Chamber is holding a breakfast event with Norfolk County Council, on 26 November at Norwich City Football Club, which will look at the fast moving developments in transport. The breakfast is aimed at business leaders and CEOs from businesses across Norfolk who are interested in hearing about travel and transport developments in and around Norwich, in particular the impact and benefits of the Norwich Northern Distributor Road and its place in the wider ‘Transport for Norwich’ strategy.
Investment in the Norwich Northern Distributor Road (NDR) will help unlock thousands of jobs and support the development of up to 10,000 new homes. It will open up access to Norwich International Airport, large areas of Broadland and North Norfolk and business areas in the north-east sector of Norwich.Preliminary work will have started, ahead of main construction around March next year.
The NDR also enables progress on a number of other transport initiatives that come under the Transport for Norwich banner, including the latest city centre changes, further cycle route developments and Bus Rapid Transit.
Recently there has been a lot in the press about the delays in the start of the NDR. The Wensum Valley Alliance recently announced that it had launched a legal challenge to Norfolk County Council’s decision over funding for the NDR. Their claim being that the County Council meeting – where the Council agreed to put forward £10m towards the £30m funding gap, after the cost of the road escalated – was unlawful.
Responding to Ofsted’s stark report on the state of apprenticeships in the UK, Caroline Williams, Chief Executive of Norfolk Chamber said:
“Businesses know that good apprenticeships can help bridge the gap between education and work. The overriding priority has to be delivering high standards, with training providers accountable for the long-term results they deliver. Otherwise, far too many apprenticeship schemes may fail to equip much-needed employees with the skills they need to succeed.”
Dr Adam Marshall, Executive Director of Policy and External Affairs at the British Chambers of Commerce, said:
“Businesses have been concerned about the direction of apprenticeships ever since politicians decided to prioritise big numerical targets over long-term results. Sir Michael Wilshaw is right to challenge the status quo. A conveyor-belt model, focused solely on hitting the government’s target of 3 million new apprenticeships, would be detrimental to quality – and weaken hard-won efforts to boost the reputation and profile of apprenticeships amongst employers.”
Yesterday, Prime Minister David Cameron and the Chinese President Xi Jinping signed a Strategic Investment Agreement for the construction and operation of the proposed Hinkley Point C nuclear power station in Somerset. The Heads of Terms of a wider UK partnership to develop new nuclear power stations at Sizewell in Suffolk and Bradwell in Essex has also been signed.
The signing has paved the way for the Hinkley Point C project to go ahead and sets the steps for a final investment decision. These include finalisation of long form documentation based on Head of Terms signed today, finalisation by EDF of its financing plan, final approval by the boards of EDF and CGN (China General Nuclear Power Corporation) clearance by merger control authorities in China and Europe.
EDF and CGN have signed the Heads of Terms of an agreement in principle to develop Sizewell C in Suffolk to a final investment decision with a view to build and operate two EPR reactors. During the development phase EDF Group will take an 80% share and CGN will take a 20% share. As part of the planning process, EDF’s initial proposals for Sizewell C were published in November 2012 and the first round of formal consultation with local communities has already taken place.
Caroline Williams, Chief Executive of Norfolk Chamber said: “This new nuclear programme will give the country the secure, low carbon and reliable electricity it needs as it renews old generating capacity and takes action on climate change. More importantly for our region, the signing of the Strategic Investment Agreement for Hinkley Point C will bring the development of the Sizewell C project a step closer. EDF are NorfolkChamber Gold Patrons and we will continue to work in partnership with them to ensure the local business community are engaged with the Sizewell C project.”
He Yu, Chairman of China General Nuclear Power Corporation (CGN) said: “Entering the UK’s nuclear market marks a new phase for CGN. At the same time this is also a triple-win for the existing nuclear energy partnership between China, France and the UK. CGN is highly committed to delivering safe, cost efficient, and sustainable energy and to supporting the UK’s goal of becoming a low-carbon society.”
EDF Energy CEO Vincent de Rivaz said: “Hinkley Point C and successive nuclear projects will guarantee the UK the reliable, secure low carbon electricity it needs in the future. Nuclear power will save customers money compared with other energy options and provide a huge boost to British industrial strength, jobs and skills both in Britain and abroad. Yesterday’s announcements are also good news in the fight against climate change”
Research has found that businesses in the South East could bolster their revenues by £19.5bn and take on 173,000 staff, if they had greater access to technology.
The report was compiled by Oxford Economics and Virgin Media Businesses, who interviewed senior executives at more than 1,000 UK based companies, including 213 from the South East. According to the report more than 38% of companies in the South East provide digital content, products or services and 16% of businesses in the region were classed as digital leaders.
Creation of a fertile area for digital technology will create more than 150,000 jobs over 2 years. Virgin Media Business advised that they are expanding their network significantly to bring the fastest broadband to businesses across the whole country.
Sarah Aspray, Regional Director – South, for Virgin Media Business said:
“Businesses in the South East have much to gain from digital, from increased revenues to greater job opportunities. However work is required to realise digital’s huge potential – businesses have to invest in the right technology, skills and training, while the Government and industry need to provide infrastructure and support.”
The UK is the tech capital of Europe, but digital advances never stop. So if we want to stay ahead, we need more young people studying computing to a higher level.
Caroline Williams, Chief Executive of Norfolk Chamber said:
“This report highlights how important digital technology is to growing businesses. Norwich has Tech City status and there is a growing start up scene. In addition, digital employment in Norwich and Norfolk has now reached more than 14,000. But Norfolk businesses need to be switched on to digital technology innovations. Digital innovation goes hand in hand with technology improvements. Whilst for some, the generation of new high tech products is their business, for the commercial world in general, the future is about how best to use digital technology to solve problems and deliver business, and customer, benefits.”
The region’s premier business to business exhibition took place this year on 15 October at Carrow Road Football Stadium, Norwich.
Over the course of the day over 600 visitors came through the doors and networked with county’s very best businesses showcasing their products and services.
Both floors of the Norwich City Football Club were packed with 96 exhibitors divided into six different business zones to help visitors navigate their way through the busy exhibition.
The event was officially opened by Shaun Lowthorpe, Business Publishing Editor at Archant who spoke about the importance of visibility of Norfolk in the business world. After which he then took time to visit every stand to judge design, goodies and ‘wow factor’ before awarding Breckland Training Services ‘Best Stand’ award for their inventive murder mystery themed stand.
In addition to the exhibition, delegates also had the opportunity to attend 20 minute expert bitesize sessions providing expert advice and top tips across varied subject areas. Including Be Better at Creative Marketing with Carole Osborne, osbornenash; Be Better at Networking with Ian Hacon, Yellow Brick Road; Be Better at Pitching with Ermine Amies, Sandler Training and Be Better at LinkedIn with John Davy, Dojo Media Consulting. (Click the session titleto see the slides)
Visitors were able to download Loka, a proximity marketing app developed by Proxama, a Norwich based company and receive over 50 exhibitor offers including exclusive discounts, giveaways and competitions straight to their smartphone as they walked round the exhibition.
Overall there was a real buzz around the exhibition as well as on social media. There was plenty to see and do, from apple bobbing with Plain Speaking PR, meeting Pebbles the owl and Hazel the eagle at NBC Bird and Pest Solutions, listening to a talented Jazz Singer with Out of Office Events, and to being amazed a magician performing tricks with fire on Farnell Clarke stand.
This year’s event was sponsored by osbornenash Farnell Clarke, Computer Service Centre, Comms Supply, Archant, Creative Sponge, Norfolk Training Services (NTS) and Holiday Inn Norwich North.
Most businesses need a skilled workforce to help them drive towards successful future growth and productivity. Ask any employer what they are looking for when recruiting staff, one of the key things that they will all say is ‘the right skills and attitude’. This becomes even more important when applied to young people.
Also commenting on the BCC survey, Caroline Williams, Chief Executive of Norfolk Chamber said:
“The message from this survey is clear, both education and business feel that work experience is beneficial to our young people. However I feel here in Norfolk, due to the close relationship we have between schools and businesses that we can provide experience of work differently and more effectively.”
“The demands of the new curriculum on schools makes it challenging for students to be released from school, so in addition to offering work experience, businesses need to spend more time in schools alongside teachers making the curriculum subjects relevant to the world of work. It would also enable businesses to bring to life what great opportunities there are here in Norfolk.”
Norfolk Chamber is working towards bridging the gap between education and business, and will deliver a unique event on Friday 20 November which allows the Norfolk education sector have their say with the local business community. Click here for more details of the ‘An Audience with…Norfolk Schools’.
Unexpectedly wet weather since Wednesday prevented the opening of the new bridge over the A47 at Postwick last night (Thurs-Fri).
Surfacing the new bridge was halted by persistent and sometimes heavy rain on Wednesday. The asphalt surface will not bind to the base layers if they are wet. It had been hoped to catch up yesterday (Thurs 15 Oct), but this was not possible and last night it was decided that it would not be safe to open the new bridge as planned this morning (Fri).
Instead, the old bridge across the A47 was kept open as the route towards Broadland Business Park, Thorpe St Andrew and east Norwich for traffic from the Acle and Great Yarmouth direction, and as the route to Postwick village.
Work on the new bridge will resume as soon as the weather allows. The aim is to open the new bridge, and close the old, overnight tonight (Fri) if possible. Traffic would then start using the new bridge tomorrow morning (Sat). Thiswill only happen if it is safe to do so.
Drivers are asked to pay particular attention to direction signs through the junction during this change-over phase. Norfolk County Council is sorry for last night’s late change of plan, which was for reasons beyond our control and in the interests of road safety.
Further information on the Postwick junction, including the new temporary traffic flows, the safety reasons for the junction layout and final routes for traffic,is available on Norfolk County Council’s website: www.norfolk.gov.uk.
Norfolk Chamber of Commerce attended Norfolk Constabulary’s eighth annual Norfolk Safer Community Awards (NOSCAs) last night.
As part of the Chamber’s partnership working with the Constabulary, it sponsors the Chief Constable’s Special Recognition Award. This year there were two sets of deserved winners for this award: Tony and Chris Callaghan, who survived the Tunisia shootings; and Detective Constable Sarah Mortimer and Police Constable Neil Smith, who had both supported the Witheridge family from Hemsby, following the murder of their daughter, Hannah in Thailand last year.
Nova Fairbank from Norfolk Chamber said: “Norfolk Chamber is proud to support these awards. All the winners and nominees should be congratulated for the contributions they have made and their continual efforts in ensuring Norfolk is a safe place to live and work.”