Chamber News

The Norfolk Chamber’s role is to articulate the voice of business to both Government and the Opposition Parties.

Caroline Williams CEO Norfolk Chamber said: “As the drivers of the local economy, the views of our business members must be taken into consideration through ‘participation not just consultation’. If we are to increase the number of local jobs,so needed by our residents, andin particular young people, retaining and building on business confidence is essential in additional to practical solutions to infrastructure, skills and broadband.”

Angela Eagle had been tipped as a potential Shadow Chancellor, but has been given the business brief instead as Shadow Business Secretary. She was also announced as Shadow First Secretary of State and will deputise for Mr Corbyn at Prime Minister’s Questions. The MP for Wallasey stood in the deputy leadership contest and was also a cabinet minister under Gordon Brown.

Congratulating Jeremy Corbyn MP on winning the leadership of the Labour Party, John Longworth, Director General of the British Chambers of Commerce, said:

“Businesses across the UK want a strong, effective opposition, no matter the political colour of the government of the day.

“We will be looking for the opposition to take a pragmatic and practical approach to business, recognising that wealth creation is the necessary prerequisite for the delivery of any political objectives. The role of business and economic growth in British society must be front and centre as the new Labour leadership develops its policy priorities.

“Britain’s businesses are the engines of job creation and economic growth. It is important that all governments and opposition parties recognise this fact if they want to achieve lasting results and change.

“We look forward to beginning a dialogue with the new Leader of the Opposition and his team in the weeks ahead. Firms will be encouraged by recent statements favouring much-needed investment in the UK’s inadequate infrastructure and skills.”

The British Chamber of Commerce with the support of the accredited Chamber network has written to the Rt Hon Lord Maude of Horsham the Minister for Trade and Investment regarding the increasing number of countries setting their own rules for the issuing of Certificates of Origin.

Caroline Williams CEO Norfolk Chamber of Commerce said: “If this proliferation is allowed to continue then the burden on exporters to comply will be onerous. This burden will fall particularly hard on small and medium sized companies without the resources to meet these requirements.”

The Chambers are calling for a stand-still in unilateral regulations and to reinforce efforts to successfully conclude the negotiations on the WTP Agreement on Rules of Origin (ARO) that have been in an impasse for over a decade

For more information please find the 2015 ICC Policy Statement and the letter sent to the Rt Hon Lord Maude of Horsham the Minister for Trade and Investment.

West Norfolk Chamber Council has called for Enterprise Zone status to be awarded to a King’s Lynn scheme that could deliver thousands engineering and manufacturing jobs.

Heather Garrod, President of West Norfolk Chamber said:

“Being awarded Enterprise Zone status would bring many benefits to the local business community: King’s Lynn would become a leading centre for manufacturing and engineering; 2,200 engineering and manufacturing jobs could be created; and overall it will help boost economic growth in West Norfolk.”

A proposal for the Nar Ouse Business Park on the outskirts of King’s Lynn is thought to be among a number of proposals from the East of England that could be considered by central Government. At present the body handling the proposals was unable to confirm whether the NORA proposal will be taken to the next stage for ‘Enterprise Zone’ status. But Alistair Beales, who chaired the King’s Lynn & West Norfolk Borough Council’s cabinet meeting last night, said: “The proposal does bring forward the possibility of development on this site even closer.”

A report was presented to Councillors which explained about the bid. Councillors also noted that the proposal would see improvements in the surrounding infrastructure, with a road linking the area of Nar Ouse Way with Hardwick Road.

New Anglia LEP are in overall charge of the application from the eastern region were unable to confirm if the NORA proposal would be submitted to Government next Friday. It also would not reveal other sites being considered in our region as it was ‘a nationwide competitive process’.

Chris Starkie, Managing Director of New Anglia LEP said:“Over recent weeks we have been asking councils across Norfolk and Suffolk to put forward sites for potential inclusion in a new Enterprise Zone bid. We have been assessing those sites against our Strategic Economic Plan, their potential for innovation and the government’s own criteria. As this is a nationwide competitive process we will not be revealing any further details until the bid is submitted.”

The proposal for the NORA site in King’s Lynn is part of the second wave of the scheme, which New Anglia LEP announced in July.

Ipswich, Lowestoft & Waveney, and Suffolk Chambers have all been asked to consult and draw together information from businesses with regards to proposals for new crossings over Ipswich Wet Dock and the lack of a crossing at Lake Lothing.

Ipswich Wet Dock Business Survey

Ipswich and Suffolk Chambers are working together to gather information for crossing over Ipswich Wet Dock. An important part of this process is to gather information from businesses concerning:

• The impact the lack of crossings has on your business
• The difference new crossings might make to your business
• Information which can help to shape an economic case for the crossing including: quantifying congestion costs; evaluating levels of investment likely to result from improved access; and estimating future employment growth
• Views on whether businesses have a preferred location for the crossing

The responses to this consultation will be drawn together by a team at the Suffolk Business School at University Campus Suffolk and will be fed into a report commissioned by New Anglia LEP and Suffolk County Council and being written by WSP / Parsons Brinckerhoff. The WSP / Parsons Brinckerhoff report will provide a business case in the form that Government requires regarding the proposed new crossings.

The survey will be open until 30 September 2015. If you are a business that regularly operates in this area, then your views are extremely important and we are therefore grateful for your time spent completing the business survey.

Lake Lothing Crossing Consultation

Lowestoft& Waveney and Suffolk Chambers of Commerce have been asked to consult with and draw together information from businesses that are affected by the current lack of a new crossing of Lake Lothing. An important part of this process is to gather information from local businesses concerning:

• The impact that the limited road crossings of Lake Lothing has on your business
• The difference a new crossing might make to your business
• Information which can help to shape an economic case for the crossing including: quantifying congestion costs; evaluating levels of investment likely to result from improved access; and estimating future employment growth
• Views on whether local businesses have a preferred location for the crossing

The responses to this consultation will be drawn together by a team at the Suffolk Business School at University Campus Suffolk and will be fed into a report commissioned by New Anglia LEP and Suffolk County Council and being written by Mouchel. The Mouchel report will provide a business case in the form that Government requires regarding the proposed new crossing.

The survey will be open until 30 September 2015. If you are a business that regularly operates in this area, then your views are extremely important and we are therefore grateful for your time spent completing the business survey.

Thenew annual economic report for Oil & Gas UKdisclosed that the total number of people employed in the sector had fallen from 440,000 to 375,000 since the beginning of 2014, largely due to the crash in world oil prices.

The UK’s oil and gas industry expects to continue shedding jobs and heavily cutting its costs despite reducing its workforce by more than 65,000 in the last 20 months.

Norfolk Chamber joins Oil &GasUK in repeating its demands for further tax cuts and increased Treasury incentives to help boost investment, increase margins and cut decommissioning costs, arguing that the latest tax cuts were insufficient. The Government must listen to an industry which provides revenue for the treasury and many local jobs

The economic report forecast Brent crude prices remaining in the current range of $45-$65 a barrel “well beyond the end of 2015”.

Even with new fields such as Golden Eagle pushing up production, overall capital investment could drop by as much as £12bn over the next three years, falling from £14.8bn last year by between £2bn-£4bn a year to 2018.

Andy Penman – President of GY Chamber Council and Group MD of Conductor Installation Services an ACTEON company said ” We must help to sustain the back-bone of Britain by reducing the Tax burden on the energy sector, thus helping those long established Oil & Gas Service organisation to weather the current storm, to come out the other-side stronger and healthier and ready to address the challenger’s when the up-turn arrives into our theatre of business again”.

Deirdrie Michie, the industry body’s chief executive “This great industry of ours is facing very challenging times. Last year, more was spent than was earned from production, a situation which has been exacerbated by the continued fall in commodity prices.

“Difficult decisions have had to be made across the industry. We estimate that employment supported by the sector has contracted by 15% since the start of 2014 to 375,000 jobs. It is likely that capacity may have to be reduced still further in order for the business to weather the downturn.”

The New Anglia Oil and Gas Taskforce, of which Norfolk Chamber is a member, has commissioned a piece of research to understand the challenges and more importantly the opportunities open to local companies in this industry. There is a coordinated approach to providing coordinated help and support to local companies

Andy Penman, Group Managing Director of Conductor Installation Services and President of Great Yarmouth Chamber Council was featured on the ITV News at Ten last night, where he highlighted the current challenges being faced by the oil and gas sector in East Anglia. To see the ITV News coverage click here.

Norwich Chamber Council and the Norwich Business Improvement District have agreed to work together on specific issues affecting businesses in Norwich. A particular area that is being looked at is accessibility to Norwich.

Norwich Business Improvement District Transport Strategy

Established in November 2012 the Norwich Business Improvement District (BID) is an inventive and progressive organisation run for local businesses by local businesses. Covering a defined area of the city the BID team works to improve the trading environment and identifies additional projects and services that develop the city centre. Norwich BID enhances and promotes the local environment for its businesses, employees, customers and the community.

The overarching vision of Norwich BID is to; Make a clear positive impact on the vitality of the city centre and the success of the businesses within it. Stefan Gurney, Executive Director of Norwich BID said “One of the key areas of interest for the BID is accessibility and transport to Norwich – an issue that affects us all.”

The BID Transport Strategy focusses on setting out guiding principles for accessibility:

• Ensuring ease of access for businesses, their employees and their customers
• Linking improvements directly to the economic vitality of businesses
• Minimise the increases in traffic levels

The requirements for achieving this include:

• Traffic volume changes justified by evidence of increased ease of access
• Schemes are tested against a “weighting” system for all methods of access
• Demonstrate how the solution performs ‘locally’
• Changes to scheme phasing are assessed against the wider impact on the city centre viability and sustainability
• Works are planned and phased to minimise impact on road users
• Use the ring road system to move traffic in and out of the city in “loops” or radials rather than across the city centre

Schemes need to deliver

• A safer and more accessible environment for cyclists and pedestrians
• Promote quicker and more reliable public transport services
• Reduce the impact of road works and disruption
• Enable access for the less mobile users
• No increase in journey time
• No reduction in road capacity
• Annual reviews against original principles and changes in market environment

The BID is keen to hear the views of city centre businesses, to work with partners towards shared goals and to seize opportunities, get in touch 01603 727930 or email [email protected]

If your business is outside of the Norwich BID area, then the Norwich Chamber Council is keen to hear from you on the same issues. You can contact Nova Fairbank on 01603 729 713 or email: [email protected].

This month’s headlines:

• UK economic growth in Q2 unrevised, as the trade deficit narrows and investment rises.
• UK unemployment rises again, but earnings continue to outstrip inflation.
• US growth is revised up sharply, but China weighing heavily on the global outlook.

Based on August 2015 data releases, this month’s economic review showed that UK GDP growth in Q2 remain unrevised at 0.7%. In Q1 a 0.4% rise was recorded. In annual terms the UK economy grew by 2.6% in Q2. The UK’s trade deficit narrowed by £13.4 billion in Q1 2015 to £9.1 billion in Q2 2015.

Overall the UK job market weakened in the 3 months to July 2015. However, here in Norfolk the trend was somewhat different. In the same period, those seeking Job Seekers Allowance (JSA) in Norfolk continued to fall from 6,679 to 6,518. Strong real wage growth continued. Wit two thirds of UK GDP being driven by consumer spending, the rise in real earnings and therefore consumer’s spending powe will continue to support growth.

The economy is the Eurozone grew by 0.3% in Q2 2015. Although this was down slightly from Q1 growth of 0.4%. US growth was revised sharply upwards, as the second estimate of US GDP relvealed that the US economy grew at an annualised rate of 3.7% in Q2.

Despite cutting interest rates and devaluing their currency, the Chinese economy remains a major concern. China is the world’s second largest economy and accounts for a quarter of global GDP growth. This means that the uncertainty over China’s economic outlook is starting to weighon the overall global economy.

For full details of this month’s economic review click here.

Earlier this year, Norfolk County Council awarded the multi-million Park and Ride contract to Konectbus. The operator, who is based in Dereham, already ran three routes for Norwich’s park and ride, but as of yesterday Konectbus now runs all of them.

18 new buses were specifically purchased to run on the city centre services, at a cost of £3.3 million. Konectbus have said that by linking up the cross city routes this will give passengers a better service and a new link to Norwich railway station. They have also introduced a new timetable and fare structures

However, in a change to the previous park and ride contract, the Costessey Park and Ride will now only call at the University of East Anglia and the Norwich University Hospital.

Konectbus celebrated the start of their updated services with a launch party at The Forum at the weekend, where two of their new fleet of buses were on show.

Tracy Jessop, County Council Assistant Director for Highways and Transport, said:

“Konectbus has outstanding levels of satisfaction from users of their current services at over 98pc, so I am confident the services are moving into very good hands.”

“Their bid was bold and ambitious and will bring in a number of changes in response to passenger needs. It is great news that this is now a fully commercial service that will be able to move and flex to meet the needs of our growing city.”

Access to finance is still a barrier to exporting for UK firms, a report by the British Chambers of Commerce (BCC) has found. In its annual International Trade Survey, the BCC found that 60% of potential exporters cite general access to finance as a key factor in their plans to export goods or services.

Additionally, one quarter (24%) of UK businesses preparing to export have reported difficulty in accessing trade finance or credit insurance from lenders – products tailored specifically to support firms trading in overseas markets.

Access to finance is an issue for firms of all sizes. Of the 60% of UK firms on the cusp of exporting who stated that securing the right funding was a key consideration in deciding if, when and where they would export to, over half (57%) are micro firms, 29% are small firms and 14% are medium or large firms.

Despite this, 90% of businesses that are already exporting say further expansion is a priority, indicating that confidence in economic growth is becoming more widespread across the country and that appetite for new expansion is returning.

Accessing the appropriate financial products is crucial to businesses planning to enter export markets, to help cover new costs including market research and product development, and managing the risks around shipping and payment.

John Longworth, Director General of the British Chambers of Commerce, said:

“A fundamental revolution in our approach to exporting is needed if we are going to reverse our historic trade deficit, overturn our current account deficit and maintain Britain’s position as a leading global trader. We already have world-class products and services that are in demand globally – we now need to ensure the door is open for all UK businesses wanting to trade overseas.

“While support for UK companies to finance exports of goods and services should be further enhanced, we also need to understand why a quarter of the exporting firms surveyed have been unable to access the financial products specifically designed to help them trade overseas.

“There are huge potential rewards for firms that can access overseas markets, but there are also costs associated in exporting. The government needs to ensure that UK Export Finance and the British Business Bank offer world-class support to UK businesses, and remove one of the main barriers to exporting – access to finance.

“To ensure that UK exporters have direct access to on-the-ground support in new markets, the BCC and chamber network are playing our part by actively expanding our Global Business Network to link British firms with customers and opportunities in the fastest-growing economies overseas.”

Julie Austin, International Trade Manager at Norfolk Chamber said:

“It is disappointing that so many business have experienced a barrier to exporting due to accessing finance. As the Norfolk economy improves and companies look to expand their markets, exporting is often a profitable route but the barriers do need to be removed to make this happen. Norfolk Chamber assists exporters with access to finance through a number of services. Regular training courses on Letters of Credit and Methods of Payment are held throughout the year to assist export staff understand the rules and regulations involved. A Letter of Credit service is also available which takes away all the concerns exporters have when dealing with overseas clients and the worry about getting paid.”

Notice is hereby given that the 119th Annual General Meeting of the Norfolk Chamber of Commerce & Industry will be held at the Dunston Hall Hotel, Ipswich Road, Norwich on Friday 09 October 2015. Registration will be at 09:45am, for meeting commencement at 10:00am. Please see attached for all papers relevant to the meeting.

The September meeting of the Great Yarmouth Chamber Council was held at Conductor Installation Services’ new premises on Beacon Park. Andy Penman, Group Managing Director of CIS is the President of Great Yarmouth Chamber Council. He provided members with a guided tour of his ‘state of the art’ premises, including showing members the underwater piling and survey equipment in his workshops and yard.

The Chamber Council debated how to increase the visibility of businesses in Great Yarmouth and discussed how to improve Great Yarmouth Town Centre. Following the recent announcement by the Borough Council of Great Yarmouth of a £1 million initiative to regenerate the town centre, the Borough Council has commissioned Carter Jonas to carry out a study and produce a master plan for the town which sets out the vision for the next 15 years. In order to plan key changes and guide investment to create a commercially successful town centre, they need to hear from residents and businesses. If you would like to input into this study click here to download the questionnaire.

The aim will be to define the possible options for regenerating the town centre which will then be consulted upon in early 2016.