Commenting on the Prime Minister’s announcement she will seek to extend the Brexit deadline, Dr Adam Marshall, Director General of the British Chambers of Commerce, said:
“The clock is still ticking, and avoiding a messy and disorderly exit from the EU is still the top priority for our business communities. The government must take firm action, now, to ensure that this is not allowed to happen by default.
“Yet businesses need to see outcomes, not just more process. On-going uncertainty is having a real and negative impact on business confidence and investment all across the UK. Our own quarterly survey of businesses, the biggest independent survey in the UK, is concrete evidence of this – with the worst figures across the board in nearly a decade.
“The Prime Minister may have issued a revised road map, but business communities still have little sense of the destination. It’s like being asked to follow a sat-nav to an unknown location – with the nagging worry that the directions may yet lead to a cliff.”
Norfolk Chambers mission is: Connecting, supporting and giving voice to every business in Norfolk.
As part of that mission, we are here to support our members goals and aims, get their voice heard and promote the ‘wow’ factors for Norfolk’s business community.
To help us achieve this we are now using our monthly columns in both EDP and the Lynn News to shout about our members successes; to hear from them on thought-leadership; to get their views on issues that impact on businesses; and to understand their thoughts and feelings on what is happening in Norfolk.
Every member of Norfolk Chambers can contribute to these columns. We will also ensure that your content appears on the Chambers website and in our social media. You can be an individual, a big company, or a small business. You can be anywhere in Norfolk.
Now, more than ever before, Chambers is about you – the members. Because it’s you who define Norfolk, who fuel its growth and deliver its goods and services. It’s you, who create and innovate to make the county the success it is.
Let’s work together to share positive news about Norfolk. So, if you’re a Chamber member and you want to help celebrate the success of Norfolk, this is your chance.
We’ll collate your stories and input, and we’ll use our media columns, website and social media to share them. From here on it will be your voices. Do it!
Staying up to date with our skills and professional learning is always a good thing. In fact, with the fast-moving working environment, this has become even more important. Attending a training course can give you a new approach to tasks, an investment in your knowledge, and helps to encourage your staff to grow professionally too.
With the support of our expert trainers who are specialists in their business areas, Chamber Training offers a diverse choice of half day courses across the year, with the Spring and Summer dates now released.
Whether you are looking to develop your business writing, or hone your Instagram for your work account, or prepare documents for international trade, our training course are here to advance you and your business.
The courses comprise of small groups, with the chance for one to one support from the trainer, groups activities, and the opportunity to answer questions throughout. All handouts from the sessions will be available, and light refreshments with tea and coffee will be included too.
The Norwich BID (Business Improvement District) has acquired a limited number of licenses for Rio Carbon Reporting’s Carbon Tracker.
“What is Rio?
Rio is an intelligent sustainability management system. This platform helps businesses, public sector organisations, and SME’s track their sustainability data, report on their progress, and learn to become more sustainable.
Rio can not only help businesses track their sustainability journey, but the platform also analyses your data and provides actionable ways to improve your sustainability and save you money! Rio can help with:
Target-setting establish your organisation’s targets and monitor progress
Reporting provide information to key stakeholders
Legislation access a legal library of environmental legislation (with synopses!)
Identify opportunities to reduce your carbon footprint
Training Rio Learn provides training resources on a range of topics to increase sustainability knowledge.”
Reacting to reports that the sunset clause might be removed from the Retained EU Law Bill, William Bain, Head of Trade Policy at the BCC, said:
“Over the past few months, the BCC has consistently put forward a strong business case to remove the uncertainty caused byan imminent sunset clause forretained EU law.
“If Ministers are now considering a more pragmatic approach this would be greatly welcomed. Firms have been battered by the pandemic, energy costs, inflation and rising interest rates, but their confidence in the economic outlook has been starting to grow. Now is not the time to knock that with a hasty sunset clause across vast areas of UK regulation.
“But it would appear the Government has been listening and we welcome the opportunity for further dialogue. Businesses are keen to see reform which removes barriers to growth, where appropriate,thatkeepscosts down andavoidsdivergence within the UK internal market.”
Responding to the House of Lords European Affairs Committee report on the future of the UK-EU relationship, William Bain, Head of Trade Policy at the BCC, said:
“The BCC welcomes these clear and well-evidenced proposals for reform of access to the UK labour market. We provided evidence to the Committee based on our research among businesses in key economic sectors.
“There are still particularly tough issues faced by firms who cannot attract sufficient UK staff in care, hospitality, manufacturing and logistics.
“We need a fast, efficient and affordable system to access skills from outside the UK when we can’t recruit and train locally. The Shortage Occupations List (SOL) is key tool to do this, but it must reflect the reality on the ground.
“UK firms are also hampered when it comes to travelling to Europe due to the lack of flexibility in some of the business travel and mobility rules in the Brexit deal, especially in relation to financial, professional and business services.
“We urge the UK Government to respond decisively to these findings, so that firms can have the confidence in access to the skilled workers they need to grow their businesses and get economic growth moving.”
A copy of the full committee report can be found here.
Entries are now open for the Eastern Daily Press Business Awards 2023.
The theme for this year is those heroes, the team members that are the difference between success and failure.
We are pleased to see so many of our members involved with the awards already, with several being sponsors of the award categories and local Charity and Norfolk Chamber members, Walking With The Wounded being named EDP Business Awards Charity of the Year for 2023.
The award categories are:
Norfolk Business of the Year, sponsored by Barclays
At Norfolk Chambers of Commerce we love to experience first-hand the amazing work our members do across the county. On the morning of Tuesday 30 April local businesses also joined us to see the great work done by the Hawk and Owl Trust as we held our first ‘netwalking’ event! As members arrived at the Hawk and Owl Trust reserve in Sculthorpe we welcomed them with freshly cooked breakfast rolls and plenty of tea and coffee. Attendees were networking over breakfast enjoying views of two week old lambs out the window. After a few words from the Hawk and Owl Trust Fundraiser, Angela Glynn, their Conservation Officer Nigel Middleton prepared attendees for the guided walk they were about to take across the 53 acre site. As Nigel guided us through the reserve, attendees had time to spark conversations both business and nature related to the sounds of various bird species around us! We stopped at several points along the walk to hear from Nigel about the reserve, including a treetop ‘Hide’ which was built entirely by volunteers for visitors to sit and watch from. After we’d finished our walk we gathered back in their facilities for a hot drink and continued conversations. This event provided a fantastic opportunity for businesses meet one another in a refreshing environment surrounded purely by nature and great work. The Hawk and Owl Trust have recently launched a corporate membership scheme allowing businesses to join for a yearly donation, receiving membership cards for staff to use, an Owl nesting box via their ‘Adopt a Box’ scheme and much more. Get in touch to find out more.
Reacting to the latest ONS Trade data, William Bain, Head of Trade Policy at the BCC, said:
“The picture for global trade in the first quarter of 2023 is creating serious challenges for UK exporters, with a drop off in services as well as goods. While a pick-up in global demand is likely to develop in the second half of the year, we need action now to address both the cyclical and structural factors holding back UK export growth.
“Labour market concerns appeared to act as a brake on any further services growth during March. Removing inflationary effects, UK services exports, which make up the bulk of our overseas sales, are still 0.9% below their pre-pandemic levels. The Government needs to do more to remove non-tariff trade barriers that are frustrating firms and make a big push to improve take up of free trade agreements.”
Detailed Analysis of UK trade Data
Q1 2023
Figures for March revealed a further drop in both goods imports and exports, concluding a weak start to the year. Across the quarter, UK goods exports values declined by 3.2%, and goods imports by 7.5%. Services exports values fell by 2% across the quarter. Taking goods and services trade overall, there was a fall in UK exports values of 2.6% between January and March 2023, and in imports of 6.8%.
March data
After taking inflation into account, goods imports values fell by 2.1% in March and goods exports by 2.7%. Although imports of goods with the EU remained static, there was a decline in goods imports trade with the rest of the world in March of 4.7% – driven by lower fuel and oil imports, and across cars, transport, machinery and other manufactured goods. Good exports to the rest of the world fell by 3.6% and to the EU by 1.7%. In services, UK exports increased by 0.8% in March, and imports by 0.3%.
Trade Deficit
Reduced imports across the quarter led to a fall in the overall UK goods and services trade deficit from £15.1bn to £10.2bn in Q1 2023.
Reacting to the latest ONS GDP figures, David Bharier, Head of Research at the BCC, said:
“The first estimate of GDP for Q1 2023 of 0.1% growth indicates the UK is avoiding a recession and shows the resilience of businesses who are having to weather serious headwinds.
“However, this also means we’re in a period of virtually no growth. The core issues affecting British businesses, such as unprecedented inflation, energy price shocks, and record tightness in the labour market, have not gone away.
“A further rise in the interest rate will also impact firms that have resorted to using finance to manage cash flow.
“The Government must now act fast and set out a plan for economic growth to mitigate the impacts of these shocks. Businesses need to see a reduction in the cost and burden of trading internationally, particularly with the EU, as well as support for those continuing to be hit by record energy costs.”
British businesses and consumers will soon be able to reap the benefits of the UK’s first trade deals negotiated from scratch since leaving the European Union with the agreements set to come into force this month.
Expected to increase bilateral trade with Australia by 53% and with New Zealand by 59% in the long term, the two game-changing free trade agreements are anticipated to go live across all three countries from midnight on 31 May.
Both trade deals will drive economic growth and innovation across the UK, Australia and New Zealand through the removal of tariffs on all UK goods exports, open unprecedented access for services, cutting of red tape for digital trade, and by making it easier for UK professionals to live and work in Australia and New Zealand.
It comes just weeks after the UK concluded negotiations to join the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), a free trade area worth £9 trillion, putting us at the heart of a trading powerhouse.
Business and Trade Secretary, Kemi Badenoch, said: “With these two deals the UK is using our status as an independent trading nation to tailor agreements to our country’s economic strengths. Alongside our recent conclusion of talks to join CPTPP, the government is forging a bold new future alongside the world’s most dynamic and fast-growing economies.
“Putting these trade deals into action will help create new opportunities for business, boosting wages and helping spur economic growth.”
Head of Trade Policy at the BCC, William Bain said: “It is good news to hear that the free trade agreements with Australia and New Zealand will finally come into force at the end of the month.
“These deals will lower tariffs, simplify customs procedures, allow for greater freedom of movement for labour and provide stronger market access for the UK’s world-leading services sector.
“But the success of any free trade agreement comes down to whether businesses use it, so it’s vital the Government shouts from the rooftops about these new opportunities.
“A recent BCC survey also found almost a quarter of firms (23%) said finding a business partner or distributor overseas would encourage them to either start exporting or export more.
“We have strong Chambers in both Australia and New Zealand and will be working with them to get the most out of these trade deals for all our economies.”
Services are central to the UK’s economy, accounting for around 80% of its economic output and workforce, and one of its biggest export success stories. The provisions in these deals complement our strengths and will help deliver on the PM’s priority of growing our economy.
UK professionals from scientists and researchers to lawyers and accountants will have access to Australian work visas without being subject to its changing skilled occupation list. Brits will also be able to work more freely in New Zealand through commitments which enable UK service suppliers to deliver contracts.
Other UK benefits include:
Investment opportunities and access to government contracts, including putting British businesses on equal footing to compete for an additional £10 billion of Australian public sector contracts per year and high investment screening thresholds for UK investors in New Zealand
Tariff free access to both markets for all British goods and flexible rules of origins, giving businesses a competitive edge over international rivals
Reaffirmed commitments to the Paris Agreement and opportunities to grow our low-carbon economy, with tariffs on environmental goods liberalised
Removal of UK import tariffs on majority of goods from Australia and New Zealand, reducing prices for UK consumers on favourites such as wine and manuka honey and lowering costs on machinery parts for UK manufacturers
Progressive rules on digital trade and free flow of data, cutting red tape for SMEs and easing trade while protecting intellectual property, brands and innovations
There are robust protections for British farmers in both deals, including staging tariff liberalisation for sensitive goods over time.
Both countries are key members of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), a huge trade bloc in the Indo-Pacific.
The agreement is expected to enter into force on the 31 May, subject to finalisation of UK domestic procedures with remaining changes to UK law coming into force at the end of May.
More information on the UK-Australia free trade deal can be found on GOV.UK and the GREAT website.
More information on the UK-New Zealand free trade deal can be found on GOV.UK and the GREAT website.
Director General of the BCC, Shevaun Haviland, is to urge the Government to reconnect with business as firms see no progress on the barriers to growth.
She will speak out at the British Chambers of Commerce (BCC) Global Annual Conference 2023 on Wednesday, May 17. In her keynote address, she will urge Government to put business at the heart of its plans to revive the UK economy.
And with a General Election less than 18 months away she will set out the keys issues that matter most to firms. She will say that only by addressing these can business confidence be regained after being battered and bruised by the pandemic, the fallout from the war in Ukraine and last year’s political chaos.
ON THE DIGITAL REVOLUTION
Shevaun is expected to say: “As we move forward into an increasingly digital age, it’s vital that we answer the crucial questions that firms are asking.
“How can we use AI to revolutionise the way we operate? What policies could help us embrace its benefits? And how can we safeguard against negative consequences and ensure no one is left behind in this new digital age?
“At the Chambers, we’re led by one of Britain’s true digital pioneers. Our President, Martha Lane Fox has been at the heart of digital innovation. [We must] harness the transformative power of technology, tackle the challenges ahead and redesign our future.”
ON GLOBAL BRITAIN
Emphasising the importance of international trade in growing the UK economy, Shevaun will say: “Post-Brexit, the UK is figuring out its economic role in the world. Both exports and inward investment are facing growing competition.
“But it’s a problem we are well placed to help solve. We know how to find opportunities and partners all over the world and give businesses the tools to break into new markets.
“We are working to ensure that the UK continues to be a great place to invest.
“So that when global investors are deciding where to put their money, they see in the UK the conditions, talent, and access to finance that make it one of the best places in the world to invest.”
ON GREEN INNOVATION
She will bring her perspective as chair of the Business Advisory Group for the Climate Change Committee to outline the issues firms are facing:
“The UK is a leader in green innovation but with the lack of direction by government, we are seeing the US and the EU moving ahead, and fast becoming a far more attractive opportunity for those businesses.
“This is a huge economic opportunity for UK Plc. New global markets for low carbon products and services are worth an estimated £1trn to the UK by 2030. Let’s not turn our back on that.”