The Government could use taxpayer money to guarantee loan insurance for small businesses under a plan being considered by the state back business bank.
The plan aims to remove the block on bank lending to small businesses by using the insurance industry. Small businesses would buy insurance to cover the risk of them defaulting on their own loans with they could then offer to banks as guarantee to borrow money.
As the economy starts to grow it is more important than ever that businesses can access funding to invest in their organisations. In this region New Anglia Local Enterprise Partnership have also accessed funds; both grants and loans. So the Chamber would encourage businesses to investigate all options to access funding.
The Norfolk Chamber is proudly sponsoring the Customer Care Award for the Mayor’s Business Awards this year. We are aware that West Norfolk Chamber members are successful, dynamic and hard working and one of the key aspects that we keep hearing, is that customer care is central to their business ethos.
Does your organisation pride itself on its exemplary customer care? Have you incorporated initiatives designed to raise service standards and can show increased customer satisfaction? Then highlight your achievements by entering the Customer Care category of the Mayor’s Business Awards.
These awards are important for West Norfolk, as they show the rest of the county what fantastic companies we have here, but for your business, it will demonstrate to a wider audience what you already know – that you are a great company. It is also a wonderful staff motivator to collate all your good points and even better when you win!
Norfolk County Council’s Cabinet has agreed Option C as the preferred route for the Norwich Western Link.
Norfolk County Council (NCC) previously recommended Option C – a new dual carriageway route and a short section of dual carriageway upgrade of the A1067 – as the best overall solution and preferred route for the new link road between the A47 and Broadland Northway (formerly the NDR). As it balances all of the issues the project needs to address. It limits environmental impacts, has a high cost-to-benefit ratio, reduces congestion and rat-running on existing roads, minimises the impact on communities and properties, and received considerable support through their recent consultation.
Commenting on the Cabinet’s preferred route option, Nova Fairbank, Head of Policy for Norfolk Chambers of Commerce said:
“The Norwich Western Link will facilitate easier access to both Norwich airport and Great Yarmouth port. It will further help to improve journeys into and around the west of the city, support potential housing and jobs growth; provide the infrastructure to manage the additional traffic this will create, and improve quality of life for people living in the area.
“This final piece of the puzzle will ensure that Norfolk has infrastructure that will meet our growth ambitions. It will create stronger and more effective links to the Midlands and the North and will help Norfolk businesses to thrive and deliver greater economic growth and jobs.”
Confirming the preferred route option is a major milestone for the project and, while there is still much work to be done, having a preferred route brings them a step closer to starting work to construct the Norwich Western Link in late 2022 and opening the road to traffic in early 2025, subject to securing funding and completing necessary statutory processes.
Further surveys and design work will now be carried out to develop the preferred route. This will include the development of complementary measures to mitigate environmental impacts, encourage walking, cycling and public transport use, and limit the amount, speed and type of vehicles using the existing road network in the area where appropriate.
Alongside their work to identify a preferred route, they have also put together a Strategic Outline Business Case for the project which councillors on their Cabinet also approved today. They intend for this to be submitted to the Department for Transport by the end of the month, which will start the process required to secure funding for the Norwich Western Link from the government. NCC have an excellent case for the need for the road and strong support from the public, the business community, emergency services, local councils and MPs, so they’re very hopeful they will be successful.
NCC will continue to advise when there are significant updates about the project, and they will keep the Norwich Western Link pages of the County Council website updated, which you can find at www.norfolk.gov.uk/nwl. There will also be a further public consultation on the preferred route before they submit their planning application.
As Parliament comes towards the summer recess period – we thought we would give Norfolk businesses a quick update on Brexit and the current political situation.
Everyone is now very aware that we will shortly have a new Conservative Party leader, and in turn, the next UK Prime Minister – the result of which will be announced on 23 July. The House of Commons will then go into the summer recess on 25 July. But what are the positions of the PM candidates regarding Brexit?
Boris Johnson has said that he would ensure that the UK leaves the EU on 31 October with or without an exit deal. While he has said that leaving without a deal is not his preferred option, he has not ruled this out.
Jeremy Hunt has said that – in extremis – he would be prepared to leave the EU without an exit deal. If there is the prospect of achieving a deal, however, he would prefer a further extension. Should it not be possible to secure a new deal, he would back a no deal exit ‘with a heavy heart’.
Regardless of the position of the incoming Prime Minister, it will ultimately be Parliament that decides what happens next on Brexit.
In the meantime, the Labour have a new position on Brexit. They have suggested that they will back a confirmatory referendum on any Brexit deal before it is implemented. It would depend on the content of the deal as to whether they would back the exit deal or remaining in the European Union in this ballot. This position may be subject to change when the Labour Party sets its policy at its annual conference in September.
Attempts to prevent no deal
There continues to be attempts from Parliamentarians to prevent a no-deal exit on 31 October. There are reports that a number of Conservative MPs will back an attempt from Philip Hammond, the current Chancellor, to prevent a no deal exit.
This week an amendment passed to the Northern Ireland (Executive Formation) Bill that requires UK government to update the House of Commons on progress made in the formation of an executive in Northern Ireland. This requires the House to be sitting to debate the government update and is designed to make it harder for a new Prime Minister to prorogue the House of Commons to ensure a 31 October exit. Proroguing Parliament means that the parliamentary session would end, and no further business could be debated or voted on in either House until the Prime Minister chose to convene the House for the Queens Speech and the next session of Parliament would then begin.
Commenting on the current state of play, Nova Fairbank, Head of Policy for Norfolk Chambers of Commerce said:
“The Norfolk business community has to continue to assume that leaving the EU without a deal is a very real prospect and we would encourage all firms to think through the implications for their business, if they have not already done so.”
“We are working with the British Chambers of Commerce and continue to lobby in Westminster with the various government departments to try to get clarity for business. They have recently updated their Brexit Risk Register and the Brexit Checklist. – please have a look as these are good tools to consider some of the most frequently asked questions and decide what your organisation needs to do.”
The Norfolk Business Awards are now open for entries, with 11 categories to enter, its time to showcase your great business. There is no limit on the scale or size of the business who can enter – these awards are open to all, which is great news, they want to hear from all businesses across the board, which is a great opportunity. With just under a month to go until the deadline, it is time to get your application underway, the deadline is Friday 9 August 2019. This year’s the theme for the awards is ‘changing lives.’ With our member Norwich Research Park as the headline sponsor for the awards. The Research Park is a forward-thinking and cutting-edge centre for a number of local and global businesses. For the full details on the awards check out the Norfolk Business Awards site. Outstanding Achievements- Sponsored by Norwich Research Park Best Employer- Sponsored by Pure and Birketts Breaking boundaries- Sponsored by Lovewell Blake Business of the year- Sponsored by Barclays Customer Care- Sponsored by Greater Anglia Director of the Year- Sponsored by Dipples Investing in future Growth- Sponsored by Lovell Knowledge Pioneer- Sponsored by UEA Large Business- Sponsored by City College Norwich SME (Small or medium enterprise/business) of the year Tech Innovator- Sponsored by Computer Service Centre Once your application is all submitted the next date for your diary is the Awards Dinner on Thursday 21 November, this will be held at the Norfolk Showground Arena and hosted by the well known British actor, James Nesbitt.
The New Anglia Local Enterprise Partnership (NALEP) is currently consulting local businesses on two strategies for Norfolk:
EU Investment Strategy
NALEP has opened the consultation process to gather your thoughts and opinions about the future of growth in Norfolk and Suffolk. They are looking to Norfolk businesses to help identify the key growth priorities and where New Anglia LEP should be helping to focus future investment, both domestic and European. The consultation will remain open until the end of August 2013. For more information and to access the online survey click here.
Towards a Growth Plan
NALEP have also developed a ‘Towards a Growth Plan’ document which sets out their vision and strategy to create more jobs and greater prosperity to Norfolk & Suffolk. They would welcome your help to shape our Plan and inform the right decision-making as they focus on investment priorities and growth. The consultation will close on Friday 23 August 2013. For more information and to access the online survey click here.
Norwich City Council has released their quarterly economic barometer. This quarter shows the economy of the eurozone grew by just 0.1% in the July-to-September period, which was down from 0.3% growth in the previous quarter. Whilst the Office of National Statistics reported that the number of unemployed people in the UK fell by 48,000 to 2.47 million in the same period. Firms in this region took on more staff during October and the rate of job creation was the fastest since March 2007.
However, the gap between imports and exports was at its widest for over a year. The trades goods deficit widened from £9.557 billion in August to £9.816 billion now. Mild weather adversely affected the sales of winter clothing, which may account for the fall of 0.7% in retail sales volume. To read more, the full Norwich Economic Barometer is attached.
Norfolk Day is just around the corner! This year see’s Norfolk Day on Saturday 27th July, giving us all the chance to celebrate our great county with friends and family over the weekend. Plus, it is also Pride Day, and start of school holiday too- a triple celebration. With over 150 events being held over the county, and some companies launching new products, and discounts, it will be a busy weekend. So, what is your plan? We would love to hear about how you and your businesses are celebrating Norfolk Day this year. Whatever you are planning, we want to hear about how you and your staff members will be celebrating. Maybe you are planning something big or small to mark this day? This year the Chambers for Norfolk Day are doing something different to celebrate our fantastic members, and their innovative businesses. We have been busy collecting our members voices and views on doing business and living in Norfolk. This is a great chance to shine a brighter light on the county. Check out our short audio clips. A very big thanks to our members Alex Wiseman – Indigo Swan, Russell Evans- Bullards Spirits, Chris Starkie – New Anglia LEP, and Fiona Burrage from Nor-Folk, who all lent their voices and Rob Lawrence who edited these super podcasts. Do get in touch with us at the Chambers [email protected] and the EDP are really keen to hear about what you have got planned too [email protected] so we can all spread the word! Remember you can always use #NorfolkDay share your stories and spread the word too.
Today, Norfolk Chambers held a working lunch with the Bank of England at the Chambers offices in Norwich. Patrick Campbell, East of England Agent for the Bank of England heard from a range of Norfolk businesses about their thoughts on the state of the Norfolk economy and the challenges being faced due to the continued uncertainty of Brexit.
Key amongst the Brexit challenges were those operating ‘just in time’ supply chains and the impact of delays in importing/exporting goods to meet it; the potential of future tariffs on raw materials; and European partners being unwilling to negotiate long term contracts.
Also up for discussion was the impact of economic uncertainty on the labour market and how the Living Wage increases and auto enrolment of pensions have affected salary levels in our region. Other challenges noted were access to a skilled workforce.
We had an absolutely fantastic time at the Norwich Theatre Royal this morning on our second Phizz Whizzing Backstage Tour with the witty Jason Raper, our guide.
The tour began front of stage where all the current props and scenery were setup for the show – the set is incredible and the work that goes on behind the scenes was a privilege to see!
Jason was extremely informative and very entertaining, his depth of knowledge and passion for the Theatre shines out.
Backstage we encountered an array of exciting props, costumes and discovered the labyrinth beneath.
After the tour we enjoyed a wonderful breakfast in the recently refurbished Prelude Restaurant. The breakfast was a great opportunity to sit and chat in the beautiful sunshine with fellow members, and start our Tuesday in a most fantastic and interesting way!
If you missed either of these tours, we are looking at future productions and will keep you posted!
Commenting on the speech by shadow business secretary, Chuka Umunna MP, Caroline Williams CEO Norfolk Chamber said:
“Chuka Umunna is right to say that apprenticeships must be of high quality if they are to be attractive both to employers and to young people alike. His arguments in favour of longer, higher-level apprenticeships will resonate with many companies, as a training system that works for business is a pre-requisite for a great economy.
“Yet a high-growth, high-productivity economy isn’t created by increasing wages or employment regulation. It depends on business investment, first and foremost. Promoting investment, rather than new employment laws, should be the top priority for the Labour Party as it develops its policy platform.”
As a follow up to the Chamber’s ‘Audience with George Osborne, the Chancellor of the Exchequer’ event on the 7 November, we submitted a number of questions from our members to the Chancellor. Responses to those questions are now starting to be received from the relevant Ministers within Westminster.
Robert Ashton is Chief Executive of Swarm Apprenticeships who are currently based in Wymondham. They have been members of the Chamber for just over 6 months.
Roberts question to the Chancellor was:
“The Prime Minister’s recent announcement that reformed apprenticeship will be employer led is a welcome response to the excellent Richards Review. However the initial eight ‘trailblazer’s’ are all corporate led by and will inevitably focus on growing apprenticeship employment in large organisations.
I would like to see Norfolk given the opportunity to develop a rural trailblazer. We already have the SFEDI qualification which was created in response to small business demand. At Swarm we also have the active support of the Norfolk Chamber, FSB and City College Norwich. Add the other Group Training Associations and Apprenticeship Training Agencies developing here we can lead the way to creating a new model of apprenticeship delivery in a rural area. Would you support Swarm to create a rural trailblazer in Norfolk?”
Find on the attached document the written response from the Department for Education.