The Chambers Quarterly Economic Survey (QES), is the UK’s largest independent business survey and it is NOW OPEN for responses from local Norfolk businesses. The previous quarter’s QES showed no signs of business recovery. After significant declines across all business conditions tracked by the British Chambers of Commerce in Q3, most indicators have stabilised at a low level.Profitability confidence remained at Covid-crisis levels; only one in three (34%) businesses believed their profits will increase over the coming year, while more (36%) expect a decline.Just 33% of firms experienced an increase in sales over the past three months, while 25% of firms reported a decrease, with hospitality firms the least likely to report improvements.More firms are reporting taxation (38%) and interest rates (43%) as growing business concerns. Read the full results from Q4 2022 here. The survey takes less than three minutes to complete – it is anonymous and your support would be greatly appreciated. The QES 2023 Q1 is open for responses until midnight on Thursday 9th March. Have your voice heard and take part in the QES today. Photo credit: Chamber Canva Pro
“UK exports were flat in December 2022 and fell across the final quarter of the year as a whole. Across 2022, export values rose by 6.7% (excluding inflation) but were still 3.1% lower than in 2018. “The UK trade balances in goods and services fell sharply in 2022 by £85bn to £108bn, compared with the previous 12 months, but a major factor was the surge in fuel imports throughout the year due to the impact of the War in Ukraine on global energy supply. “The increase in UK export values for the year is testament to the efforts of businesses and Chambers amid exceptional cost, energy and supply pressures. But we still have some way to go before we get back to where we were in 2018. “Although trade in services was broadly flat in December, goods imports out-performed goods exports, which finished 2022 with a small decline in December. “Of greater concern is the picture across the final three months where, on the current prices measure, UK exports fell by 4.5%, with declines in both EU and non-EU exports. “The new Department for Business and Trade must be laser-focused on improving export performance over the coming months and we look forward to helping them do that. But the data for the last quarter shows the scale of the task ahead. “The UK Government’s Export Strategy needs to fire on all cylinders this year to support SME exporters to grow their exports or sell goods and services to new markets for the first time.” Analysis of the data Removing the effects of inflation, total UK goods exports fell by 0.3% in December 2022 (2.3% drop in export values before inflation effects are accounted for). An increase in exports to the EU of 4.9% (driven by higher machinery and transport equipment exports) was offset by a fall in rest of the world exports by 5.1%. There was a better story on goods imports with an increase (excluding inflation) of 1.5% in December 2022 (2.9% before removing effects of inflation). Rises were 3.8% for EU imports driven by rises in machinery, transport equipment and fuel imports, and 1.9% for imports from the rest of the world, predominantly due to soaring prices of gas imports from the US and Norway in December. In services, excluding inflation, imports rose by 0.3% while exports fell by 0.4% in December. Across the final quarter of the year, on current prices, goods exports fell by 4.5%, at a higher rate than goods imports which fell by 2.1%. UK services exports fell by 1.5% over the same period, and services imports to the UK by 0.2%. Overall, UK exports across the quarter fell by 2.9% on current prices.
To celebrate National Apprentice Week, we asked our Digital Marketing Apprentice Emma Jermany a few questions. Why did you choose an apprenticeship? I never wanted to go to university, but I knew I wanted a career in marketing so after looking into apprenticeships further I knew this was the right option for me. The main reason I chose to go down the apprenticeship route was due to the fact that I could learn on the job. Apprenticeships offer off-the-job learning which can be put into practice during your working day. By doing an apprenticeship it’s given me the opportunity to do the job I wanted without going to university. I am gaining first-hand experience in digital marketing as well as learning alongside it, something going to university would not have given me. What are the benefits? Going down the apprenticeship route helps you gain experience in the working world. An apprenticeship gives you the opportunity to earn a salary while learning a new skill, which is rewarded by a qualification at the end. Not only does an apprenticeship help progress your professional life but also your personal life. Why would you recommend it to others? An apprenticeship is a great option for those who know the career route they want to go down but don’t want to go to university. Apprenticeships not only help people start their careers but offer career progression with the option to take higher levels. If you want to gain a qualification, start your career, and earn a salary, then an apprenticeship is definitely worth looking into.
Are apprenticeships the way to close skills gap in the UK? Are you finding it difficult to find the perfect person for your job role? Maybe the skills needed are too niche, too technical, or you may be sceptical about hiring people with less experience for that position. With the right guidance and teaching, a person with less experience might have exactly what it takes for the job. Considering an apprentice that can grow within that job role might be the way to go. There are several benefits when considering an apprentice. Whilst it may require more resources and time from your company, the outcome could outweigh alternative solutions for closing that skills gap. What is an apprenticeship? Apprenticeship is a way to learn by doing. It’s a type of paid-for training program that provides hands-on learning and practical knowledge from within an active company. It gives apprentices access to professionals in the industry, opening their network and putting them on the radar within the industry. Apprenticeships usually involve a formal agreement between the employer and the apprentice, where the apprentice will receive mentorship alongside following an approved study programme. This means they’ll gain a nationally recognised qualification at the end of their apprenticeship. Apprenticeships can last anywhere from a few months to a few years, depending on the programme and the apprentice’s progress. For an employer, the benefits of employing an apprentice include:
A cost-effective way to develop new skills and knowledge within the workplace
An opportunity to recruit and retain talented young people
An opportunity to adapt your learnings toward your business’ model
Increased productivity and healthy competitiveness in the workplace
Make sure your company has what it takes to employ an apprentice:
The right resources in-house: Make sure you have the right people, assets and tools in place to provide that knowledge to fresh minds. If you don’t have the knowledge or tools in place, you may not be able to provide the right training and close that skills gap.
The necessary allocated time for learning: Make sure that whoever in your company is responsible for your apprentice has the necessary time allocated to support them. Someone under pressure to execute their own tasks whilst also trying to teach someone could become unproductive and inefficient in the long term and could have a negative effect on morale.
A well-defined need for skills: Make sure you have defined the skills you need within your company and justify the apprenticeship program.
Set your KPIs or success measurements: What does a successful apprentice would look like to you and your company? Define what you want to achieve at the end of their apprenticeship program, how it will or would have benefited your company. Keeping these metrics in place from the start will help you identify pain points to address or successes that will shape the future role.
Is apprenticeship the future of closing the skills gap? It’s clear that apprenticeships are a good solution to close skills gaps in the UK. But not all companies can afford or have the right assets to provide the necessary training. Apprenticeship programmes are highly regarded because they allow a level of flexibility and accuracy for the company that provides the training. The apprentices are learning the tools, skills and knowledge that the company needs. Shaping the apprentices for that specific future role is also a very good opportunity to grow faster within that industry. If you find your company in need to close skills gap and you’re not sure how or where to start with apprenticeship programmes, you can let us know by filling this LISP Employer’s Survey and we’ll get in touch to help your business. Celebrating National Apprenticeship Week 2023 Norfolk County Council reported the latest provisional data set released by ESFA for the number of Apprenticeship starts across Norfolk for Q1 of 2022/23 (Aug, Sept, Oct 2022). Here are the headlines:
The National apprenticeship starts decline is at 6.10%. However, Norfolk is showing less decline at 5.85%, which is unsurprising given the huge growth surge last year against the backdrop of the availability of the Government incentives.
In Norfolk, Great Yarmouth and North Norfolk were the only districts to see growth in Q1 – which is brilliant news, as both of these districts have historically seen lower numbers of new starts out of Norfolk districts.
Katy Dorman, Apprenticeship Strategy Manager at Norfolk County Council, scratches the surface of the data, which brings positive stats in regards of Norfolk’s effort with Apprenticeship programs:
Starts at Level 2 have seen72% growth, compared to a national decline of -18.43%.
Starts for those aged 16-18 has seen47% growth, compared to a national decline of -4.10%.
Starts for ‘newly recruited’ apprentices saw 16% growth, those in employed less than 3 months who started an apprenticeship.
By month, Norfolk saw a little growth in October 2021 of 1.66%
By sector, the highest real number of apprenticeship starts was in
Health, Public Services & Care with a total of 486
The highest growth based on Q1 in 2021/22 was Construction with 46 more starts during Q1 2022/23
Our mission with LSIP in Norfolk and Suffolk is to understand the skills gap that industry face on a regular basis, with the aim to provide the right support and workforce in the long-term. This growth in Q1 23 reported by Norfolk County Council need to keep progressing in the right direction, which is what LSIP aims to do with the help of business owners sharing their experience of skills gap impact within their company. Become part of the skills gap solution by sharing your professional experience with us: LSIP Employer Form
The British Chamber of Commerce (BCC) as the authorising body in the UK for Certificates of Origin has decided that plain paper United Kingdom Certificates of Origin will be issued from the 1st of April 2023 in the UK. Over 40% of Certificates of Origin issued worldwide are now printed on plain paper. As we move into a digital future the BCC wants the Chambers to be in the vanguard working with the Government to achieve its digital ambition for a paperless border by 2025. The move to plain paper Certificates of Origin is the first step in this journey. From this date, all applications will have to be made via the online platform/s. Certificates of Origin printed via the online platform have additional security features such as the QR code allowing anyone with the Certificate of Origin to scan the QR code and see an online version of the Certificate of Origin so they can check the version they have has not been amended or falsified. Anyone with the Certificate of Origin will also be able to verify the authenticity of the Certificate of Origin via the ICC verification website (https://certificates.iccwbo.org). Increasingly Customs authorities worldwide are looking to be able to verify Certificates of Origin online. This will also simplify the printing of Certificates of Origin by exporters as they will no longer need to insert a blank Certificate of Origin correctly into the printer before printing. If you require any further information, please contact the International Team on 01603 729706 or 01603 729707 or email [email protected]
As we continue the countdown to The Big Debate 2023 here are four things to learn on the topic of People, Skills and Wellbeing. People, skills and Wellbeing #1 Are you joining us at the Big Debate? Are skills at the top of your agenda? Are you looking at how your business can invest in your workforces skills, navigate funding guidance and recruit new apprentices? Then book your place at our series of free LSIP events across Norfolk and Suffolk to find out more. Networking, skills and growth for your business. https://www.norfolkchamber.co.uk/knowledge_hub/lsip-join-our-free-events-across-norfolk-and-suffolk/ People, skills and Wellbeing #2 “Workplace Wellbeing relates to all aspects of working life, from the quality and safety of the physical environment, to how workers feel about their work, their working environment, the climate at work and work organization.” In this article, Layrd Design explores the concept of workplace wellness, the benefits for business and some of the practical steps you can take to support your team’s wellbeing. https://www.norfolkchamber.co.uk/knowledge_hub/the-importance-of-workplace-wellness-2/ People, skills and Wellbeing #3 How to solve the skills gap issue? It’s no secret that there’s a severe skills gap in the UK. Trained people are in short supply across several industries, and businesses of all sizes are affected. The result is that these businesses face a new challenge of locating the ideal candidates to fill critical tasks. In this article, we’ll explore different potential fixes that companies may utilise to address it. https://www.norfolkchamber.co.uk/knowledge_hub/how-to-solve-the-skill-gaps-issue/ People, skills and Wellbeing #4 Have you ever wondered if your business could sustain itself without the right people? Considered outsourcing personnel to close the skills gaps within your company? Have your employees experienced a drop in morale due to gaps in your workforce? https://www.norfolkchamber.co.uk/knowledge_hub/main-impact-businesses-see-from-skills-gaps/
Inquiry The International Trade Committee is holding an inquiry into export opportunities and whether UK exporters are able to take advantage of them. The inquiry will look into the current situation for exporters, the support offered by the Government and how easily exporters can access it. The inquiry will also consider whether there are options, not currently offered by the Government, for supporting businesses. It will also explore how the support offered by the UK Government compares with that available in other countries.
Networking is an extremely valuable tool for businesses but it can be intimidating to many. The thought of introducing yourself and talking to people you have never met before is enough to make anyone feel nervous. Feeling like this is normal. Not everyone will be good at networking the first time, it takes time to gain confidence and for you to feel comfortable in that environment. On the 31st January, we were joined by Mills & Reeve for a networking masterclass at their Norwich Office. Leanne Loome, Marketing Events Manager and Matt Skipper, Head of New Business at Mills & Reeve presented some top tips on how to develop and improve your networking skills. Networking internally is a really good way to not only practice your networking skills but to also grow your internal network and get to know the people around you and what they are responsible for. Leanne and Matt outlined four things to think about before you go networking. Attendees were asked to discuss the four rules in groups and come up with suggestions for each. Do your research
Where is the event? How far away is it from your office?
Who is going (this is only possible if the delegate list is visible)?
Who is the event aimed for? Are you going for a personal gain or to build professional connections?
First Impressions Practice your elevator pitch. Your elevator pitch is a quick description of who you are, where you work and why you are attending the event. You should always end your elevator pitch on an open question, for example, ask them why they are at the event. Walking into the room
‘Hunt in packs’ if you are in a group of two ask others to join you and form a group, do not leave someone on their own at a networking event.
Follow up
Always follow up after a virtual event, connect with them on LinkedIn and send them a message e.g. nice to meet you today.
The masterclass concluded with the key to networking, be yourself and enjoy it. Thank you to Leanne Loome and Matt Skipper for joining us and creating an activity lead masterclass that provided some top tips to make us feel more comfortable for future networking events.
Returning on Friday 10th February, 1pm-4.30pm, The Big Debate is back bringing together local MPs and business leaders to influence change and give voice to Norfolk businesses. The debate will be spilt into four main topics:
People, Skills & Wellbeing
Transport & Infrastructure
Net Zero & Sustainability
Cost of Living Crisis in Norfolk
This is your chance to put your questions directly to key decision makers, network with other businesses in Norfolk and be part of Norfolk Chambers flagship policy event that lets the voice of the Norfolk business community be heard. Debate 1: Trasport and Infrastructure Debate 2: People Skills & WellbeingDebate 3: Cost of Living Crisis in NorfolkDebate 4: Net Zero & SustainabilityHow to submit your questions Whilst questions will be coming in live from attendees, there is also the opportunity to submit any burning questions in advance of the event. If you would like to submit a question on any of the four topics, you may do so here: click here to submit questions The Big Debate 2023 is sponsored by Greater Anglia and is open to members and non-members. To book your tickets click here. And don’t forget to get involved in the discussion on Twitter at #BigDebate23
Reacting to the Chancellor’s speech setting out his vision for economic growth, Nova Fairbank, Chief Executive of the Norfolk Chambers, said: “The Chancellor is right to be optimistic for the future of Norfolk businesses which are desperate to grow and prosper.“Our Chamber Network is jam-packed with innovative and forward-looking firms. They are developing new products and services that can sustain our economy for years to come. “But beyond pledges to introduce Investment Zones and to use reform of Solvency II to unlock capital there was very little meat on the bones of the Chancellor’s vision.“Crucially he missed out two Es when he detailed his focus on‘enterprise, education, employment and everywhere’. Without addressing the issues of energy and exports, our economic growth will continue to be stunted.“While wholesale energy charges might now be starting to fall, the reality is that thousands of businesses were locked into new contracts last year at prices that will remain far higher for months to come.This will be unsustainable for many and must be addressed.“It is also very disappointing that he did not mention exports at all. Government must help businesses to harness the opportunities provided by existing free trade agreements, and those coming on stream.“Vision is important, but the mechanics of delivery matter too. The Chancellor should make full use of our 53-strong Chamber Network,which is plugged into local economies across the UK, and 79 international affiliated members to help deliver growth through exports.“The four Es is a start, but we moved no further forward this morning.We urge the Chancellor to read the BCC’s business manifesto for realistic polices to help get back to growth.” Does your business needs export support? Whatever you need to know about trading overseas, your first port of call should be the International Trade Team at the Norfolk Chamber of Commerce. Email our expert team at [email protected] or call us on 01603 729706
Have you ever wondered if your business could sustain itself without the right people? Considered outsourcing personnel to close the skills gaps within your company? Have your employees experienced a drop in morale due to gaps in your workforce? Skills shortages can have a major and wide-ranging influence on people and organisations. When you have a discrepancy between the skills present in the workforce and the skills needed for the job, then skills gaps arise. The consequences of this soon become apparent. It can impair an individual’s ability to advance in their job and result in lower productivity and competitiveness. Additionally, organisations may have trouble finding and keeping top employees, which could result in missed business opportunities and workload increase for existing employees. We’ve listed below the most common impacts businesses experience with skills gap. #1 – Slow business growth Not having the right people or talent in place could slow the growth of your business, or see you struggle to deliver your service or product to the expected standards. Which, in turn, impacts your revenue and expectations when it comes to your business ambition. This can create doubt within your workforce in the future of the company, leading to drop in motivation or need for a change in career. #2 – Struggling to meet delivery expectations Maintaining your business’ services when there’s a skill gap can be a slippery slope to failure. Staff turnover or difficulties to keep up with the demand can also be factors in a skills shortage. Technology, demand, and processes evolve all the time, and it can be challenging to keep your staff up to date or evolve their positions to meet new demands. #3 – Difficulty in competing If your business is in a competitive industry, you’ll find that skill shortage can put you in a difficult position against your competitors. While some companies can invest in internal training or in the right talents, this may not be true for all businesses. #4 – Depending too much on outsourcing Outsourcing came be a great solution for your business, but if your operations depend heavily on this, it can lead to an unnecessary stress on both your team and your clients. There are cases where some businesses are nervous taking on new contracts or feel in a vulnerable position because they can’t rely on outsourcing or feel limited with costs and availability. #5 – Workload and stress increase within the workplace When your resources are limited within your business, you may find yourself giving your existing employees more work. In turn, this can increase stress within the workplace with the potential to impact staff morale and increase dissatisfaction. #6 – Can’t attract or retain the right talent Sometimes, skills gap can have a very different impact where the company doubts its capabilities of attracting the right talent. For example, if skilled people decline a company’s offer, that company may begin to question its offering, entering a vicious circle of low staff moral and slow business growth. How your business can overcome these impacts There are various ways in which you can lift your business’ skills and staff morale whilst retaining the right talent. You can read our article here to find out more about what you can action near you. Or participate in LSIP to make a difference to the future of local skills for Norfolk & Suffolk. Learn more about Local Skills Improvement Plans (LSIPs) here.