Chamber News

The Norfolk Chamber, together with the British Banking Association, recently held the annual British Banking Association Dinner for Norfolk. The main debate centred on access to finance and allowed local businesses the opportunity to raise any concerns on this issue. The guests included representatives from the major high street banks and Norfolk Chamber members from across the business community.

One year on from the last Norfolk dinner, the overall perception was that nothing much had changed, but this is not the case.

The banking world is moving forward, albeit in small steps, more importantly these steps are positive. Since the banking crisis, many of the chairs and chief executives for the leading UK banking institutions have been replaced. Bank governance and the risk elements of lending have all been reviewed. New fail-safes have been implemented, including ring-fencing retail finance from the investment sectors of the banks.

The result of these measures is that the legal criteria which the banks have to work within is more rigid and the banks are now trying to get a better balance between lending and borrowing, as well as concentrating on being more open in their dealings and regaining the confidence of the business community.

SMEs were recently asked about bank lending. 13% stated that they were discouraged from seeking funding from their bank and 12% said they did not trust banks in general and would not use them for funding. Despite this perception and, whilst the banks have a duty of care to lend responsibly, only 1% of SME’s were actively discouraged by their bank from seeking funding, due to bad risk. The same results also showed that in the second quarter of the year SMEs had obtained new borrowing facilities of £5.9bn and banks continued to maintain approval rates of more than 8 out of 10 lending applications.

Similarly the business community should not automatically look to the ‘traditional’ route of the bank as the only source of access to finance. Alternatives to the usual lending routes could be considered. Routes such as ‘angels’, credit unions and equity finance are all possible alternatives that might be better suited for a particular business’s needs.

The days of automatic access to finance are gone and the businesses should also be responsible in their approach to lending. SMEs should ensure they have done their homework and a solid business plan is a ‘must’ when approaching a funding source. Amazingly only 6% of SMEs take professional advice when looking for finance.

Support mechanisms, such as SME mentoring services (www.mentorsme.co.uk); and the Funding for Lending scheme, designed to stimulate the economy by making cheaper loans available to firms and individuals; are supported by the British Banking Association to help drive economic growth. The recent announcement of the formation of a National Business Bank is also another positive step.

The British Banking Association dinner provided an ideal opportunity for the banks to understand the concerns of the Norfolk Chamber business community and to discuss ways in which the banking world and local businesses can work together to promote prosperity and economic growth in Norfolk.

This week, the British Chambers of Commerce (BCC) hosted its first annual International Trade Conference in central London. In his speech to delegates, Minister of State for Trade and Investment, Lord Green, said that exports should be increased to 40% of UK GDP, and that exporting is ‘not just good for Britain’, but that it is ‘essential for Britain’. In a stark message to the UK, he explained that after 50 years of trade deficits, we run the risk of an unsustainable economy as this cannot be funded by the government for much longer. Commenting on the speech, John Longworth, Director General of the BCC, said: “We are really encouraged by some of the comments made by Lord Green, as we believe that exports are going to be vital to any sustainable recovery in the UK. In Germany, exports make up 46% of GDP, so there is no reason why with the right support, we can’t hit the 40% target here in the UK. “We are pleased that the government wants Chambers to play an increasingly important role in promoting international trade overseas. The BCC already has strong relationships with Chambers of Commerce around the world, and we will continue to work with colleagues to help British firms break into new markets. But the government needs to provide sufficient funding to British Chambers overseas as a platform for practical help for businesses looking to export if we are to compete with countries such as Germany, France and Italy who are already doing this for their exporters. “But we are running out of time, and action needs to be taken immediately to help kick-start export growth if we want to see a bright future for our children and grandchildren. Businesses have the right attitude. They want to grow and break into new and evolving markets, but they need the right support in order to do this. The latest report by the BCC and DHL shows that more than a third of companies increased their export sales in the last three months, and while this is encouraging, the figure is down on the previous quarter. The government must intervene and help new and potential exporters increase orders and expand into fast-growing markets. “If the government is serious about exporting, ministers should create an export voucher scheme. There are unspent funds available that have been allocated according to government priorities, not business needs. Businesses, not government, are best placed to decide which services they need most to help them boost exports overseas.”

The latest figures show that the number of private sector businesses in the UK increased significantly to 4.8 million at the start of 2012 – a record high.

This is an increase on last year’s figures, which showed there were 4.5 million businesses in the UK at the start of 2011.

The statistics, published by the Department for Business, Innovation and Skills, also show:

•The 4.8 million private sector businesses employed an estimated 23.9 million people and had an estimated turnover of £3,100 billion •Of the 4.8 million private sector businesses, 99.9 per cent of them were small and medium sized enterprises. •SMEs also account for 59.2 per cent of private sector employment and 48.8 per cent of private sector turnover.

Click here to read more.

Belgium may not be as well known as some other global markets, but it is an open and dynamic export market for British goods and services, and the most globalised country in the world . You wouldn’t guess that this country of 11 million people with three official languages is also the UK’s 6th largest trading partner in the world, with UK exports worth £12.7bn in 2012 – more than India and China put together!

Compact, close and affluent, Belgium is a great starting point to build your business across all of Europe. It’s just over two hours by Eurostar to Brussels or a short and hassle free hop from the wonderful London City Airport to Antwerp.

“It is an ideal place for the first time exporter and a great stepping stone to the rest of Europe” says Jonathan Brenton, HM Ambassador to Belgium, “English is widely accepted, and there are quick and easy communications and connections with the UK and the rest of mainland Europe”.

As a market place, the country is full of opportunities, especially for small and medium-sized business. Belgians value good life and place a premium on non-price factors such as design, quality, delivery, and after sales service. British exports to Belgium powered ahead by 9% over the past year, the highest increase for any EU market. Key sectors include chemicals, ICT, renewable energy and healthcare.

The Golden Bridge Award 2012 is a new annual award for the most successful UK businesses exporting to Belgium. Open to both service and manufacturing companies, the awards celebrate the success of UK businesses in the Belgian market, and give British products and services a higher profile at the heart of the EU.

For further information about the Golden Bridge awards, please contact:

Joanna De Keyeser Business Development Executive British Chamber of Commerce in Belgium Boulevard Bischoffsheim 11 1000 Brussels T +32 (0) 2 613 28 53 E [email protected]

Or visit:www.britcham.be

The much-promised legacy of the 2012 Olympics may appear much further afield than East London, with news that UK companies are already winning big contracts for the 2014 FIFA World Cup and Rio 2016 Olympic and Paralympic Games.

According to the Department for Business, Innovation and Skills, London’s successful summer of sport has put UK firms in the box seat to win contracts with future international events.

So far, 22 British companies have won 36 contracts for the 2014 World Cup and 2016 Olympic and Paralympic Games (all to be held in Brazil), which together amount to over £70 million.

Projects include urban and transport planning for nine World Cup host cities, the Olympic Park master plan design contract, and communications and IT facilities.

Prime Minister David Cameron has led a trade mission of 58 companies to Brazil, where he brought British companies together with key decision-makers in Rio 2016 at a special summit on hosting sporting events.

Britain wants to make the most of its experience as hosts of London 2012 to strengthen its relationship with Brazil and deliver an economic legacy for the UK, he explained.

Research published by Deloitte reveals that more than a quarter of British firms (28%) believe the successful delivery of London 2012 will help UK firms boost their exports to the host countries of future major events.

The research also found that 50% of companies feel the Games have increased confidence in British companies’ ability to deliver large infrastructure projects.

As the Membership manager of the Norfolk Chamber, getting out there and experiencing the innovation of our Chamber members is always eye opening and inspiring but sometimes i do get to have a bit of fun in the process. Today I was invited to attend Ride and Drive day with Dingles Toyota at Sprowston Manor and experience two cars that sit at either end of their range.

First up was the Prius Plug-in

One of Toyota’s true electric cars. In support of the green economy, it’s not hard to see why 85% Toyotas fleet market is made up of sub 100g/km cars when in

Norfolk the awareness of the Green Agenda is growing daily. Reducing you businesses carbon footprint has now become a critical part of lots of our member’s businesses plans and every time I visit a business they are keen to tell me how they work hard in reducing costs and thinking working hard and becoming more sustainable. Those that have a fleet of company cars can dramatically reduce costs and carbon emissions by investing in hybrid technology and this car with CO2 emissions of just 49g/km and an astounding 134 mpg is one of the many sustainable solutions to reducing a fleet’s carbon footprint and saving fuel costs. With the emergence of more and more plug in points throughout Norfolk this type of hybrid will be seen more and more on our streets and hopefully in the fleets of our businesses looking to cut down on that all important Carbon footprint.

Second up was GT86.

Yes my job does have its perks and getting to drive Toyota’s long awaited performance car is certainly up there with the best of them. Yes the little boy in me made me take this out on the road for a spin and you can instantly see why the whole point of this car is to be fun to drive. You can’t help but grin ear to ear as

you pull away from the tree lined drive of Sprowston manor and hear the growl of the 2.0 litre Boxer engine and watch as the electronic speedometer hurtles through the numbers to 60 mph in just 7.6 seconds. There is a bit of a strange anomaly with this car as for some unknown reason the earth’s gravitational pull seems to have a dramatic effect of your right foot as soon as you get in.

Although not in exactly in line with the green economy, this is an example of car manufacture catering for all types of driver and although you would want to drive a Hybrid for work, you would want a GT86 in your garage at home.

So In my last few months I have experienced helicopters, steam-trains and cars, so what’s next in line for my excisions into the diverse Norfolk business community’s offerings? There is so much to choose from so one can only wait and see.

Members of Great Yarmouth Chamber Council, together with Cabinet members of Great Yarmouth Borough Council met recently to discuss the private and public sector working in partnership to promote economic growth.

The meeting, held at Great Yarmouth Town Hall, covered topics such as: broadband: road infrastructure, including the third river crossing; inward investment; the Enterprise Zone; and tourism.

John Morse, President of Great Yarmouth Chamber said “We are delighted that there is now a much closer engagement between the public and private sectors, working together with a clear aim of developing Great Yarmouth into a vibrant place in which to do business. Going forward, we eagerly look forward to working with the Cabinet to convert dialogue into practical solutions and to maximize employment opportunities in the town.”

The 116th Norfolk Chamber of Commerce Annual General Meeting was held at Dunston Hall Hotel on Friday 5th October 2012. The event was well attended and the finalised minutes can be viewed by clicking on the attachment.

Entries are being invited from local businesses for the Mayor’s Business Awards, which have launched today (23 October).

The awards, originally established in 1989 by former mayor Cllr Les Daubney, are the borough council’s way of publicly acknowledging outstanding business achievement and recognising the contribution that local businesses make to the economy of west Norfolk.

Borough Mayor, Cllr Geoffrey Wareham, who will be helping to judge the awards this year, said: “As I have engaged with local businesses during my year as mayor, I have been impressed by the determination and optimism in the business sector in what we all know are challenging times.

“The Business Awards are well established and I would encourage local businessmen and women to put their enterprise forward for one of these awards. Previous winners and their staff have benefited greatly from the publicity and feel-good factor. I am looking forward to visiting this year’s nominations and seeing for myself the growth in our business sector.”

There are three categories to enter:

1. Manufacturing Business of the Year
2. Service Business of the Year
3. Young Business of the Year (for businesses trading between one and four years)

Judges for the Mayor’s Business Awards are particularly interested to learn about achievements in areas such as:

• business growth
• marketing and promotion
• business innovation
• development and investment
• training and managing staff
• performance management
• environmentally friendly initiatives

Cllr Alistair Beales, Cabinet Member for Regeneration, added: “Our local businesses are vital to the west Norfolk economy and, despite the ongoing difficulties of the current economic climate, they continue to succeed. Celebrating their successes and achievements is absolutely crucial and helps us to show others that despite the challenges, local businesses are thriving. We are really keen to hear about local business achievements, whatever they may be, and would encourage people to submit their entry forms as soon as possible.”

Entries can be made by downloading the entry form on the borough council’s website www.west-norfolk.gov.uk. Entries must be received by 30 November. Shortlisting of the finalists will take place by the end of the year, with judges visiting the finalists during January. The winners of the Mayor’s Business Awards will be announced at a prestigious awards ceremony on 15 March 2013.

The Mayor’s Business Awards are organised by the Borough Council of King’s Lynn & West Norfolk with support from Lynn News, KLFM 96.7, NWES, Norfolk Chamber of Commerce and the West Norfolk Partnership.

For further information contact Paul Harrison, Business Development Officer, on 01553 616735 or e-mail [email protected].

This year’s Norfolk Chamber Autumn B2B was a brilliant day with some wonderful speakers. Jake Humphrey, Formula One and 2012 Olympic Games presenter showed a real passion for local Norfolk businesses as he talked about how proud he was to have gone from being just a ‘Norfolk boy’ to becoming a BBC TV presenter, through hard work and determination. He talked about how businesses should work together and how this can be achieved by being part of the GoGoGorilla project, of which Jake is patron.

Delegates also heard from David McNally, Norwich City Football Chief Executive who talked about running the football club as a business. He highlighted the importance of having a good team around you from a business perspective as well as on the pitch. David was really enthusiastic about business in Norfolk and was pleased that the football club could be part of bringing them together at this B2B event.

The exhibition was opened by Emma Baker, ITV Anglia who also judged the best stand awards. Emma was impressed with the variety of exhibitors at the event and after much deliberation she announced the winners. The Break Charity won the overall best stand for their gorilla statues, one of which was being painted live at the event and NVCS Ltd was a clear winner for Best Stand Design for their great coffee display. The Forum won Best On Stand Promotion as they had a great opportunity to win a table of eight at their upcoming Comedy Store night.

Attendees also had the opportunity to gain knowledge as well as do business with four free workshops. Two workshops were delivered by Nial Adams, PUSH Academy who helped attendees to make marketing work and offered some top tips on selling more in a tough climate. Julie Bishop from JobHop highlighted how lots of companies use social media for recruitment and that it is an important tool for finding the right candidate. Finally Jean McNeil, Best Support led a really interactive workshop that discussed personality profiling, the different types of personalities and how these personalities affect networking style.

Overall there was a real buzz around the exhibition which wasn’t just coming from Hugh J Boswell’s buzzer game, won by Sarah Mintey from the Open Youth Trust. There was plenty to see and do, from putting at the Royal Norwich Golf Club stand to perhaps bagging yourself a green rubber duck at the Green Duck stand. 99Squared also showcased a unique way of using digital advertising with their square-code that could be scanned with a Smartphone and Archant were there as our Media Sponsors. The event was a huge success and allowed lots of local companies to raise their profiles, work together and do some great business.

Photos from the day can be seen here on Facebook or Google+

Our next exhibition incorporating a Meet the Buyer will be Opportunities 2013 on Thursday 14th March 2013 at NCFC.

Commenting on the announcement by the Deputy Prime Minister of successful bidders in the latest round of the Regional Growth Fund (RGF), John Longworth, Director General of the British Chambers of Commerce (BCC), said:

“We are pleased that the £1bn promised for the third round of the Regional Growth Fund has been allocated to projects that will spur business investment and job creation in the regions. However, pace is critical. Many RGF projects have been delayed by bureaucratic hurdles, meaning that they have not yet started to have an impact on the ground. Some bidders have even withdrawn, meaning that over £100m has been recycled back into the fund.

“Ministers should take a bold step and use RGF funding to introduce a Growth Voucher scheme, which would get support to the businesses quickly. The £100m scheme could give 20,000 businesses with clear growth plans up to £5,000 each to get help with the planning system, advice on accessing finance, or growing their staff. Growth Vouchers would have an immediate impact and would complement the RGF schemes being taken forward by bigger companies.

“The government should also consider a second voucher scheme that would provide support for companies that need help with exporting. Together with Growth Vouchers, Export Vouchers would build confidence and help kick-start the rebalancing of the UK economy.”

The Global Marketplace Series begins with our first event, taking place on 08 November at Fluke Precision Measurement Ltd in Norwich.

“Spotlight on Turkey” will look at this most dynamic and attractive market for UK companies. Already sizeable, the Turkish economy will be the second fastest growing economy in the world by 2018 and will out-strip those of Italy and Spain in the next decade.

A young growing population and EU funding mean there are opportunities for UK companies in a variety of sectors including:

• Refined Petroleum
• Chemicals
• Harbours and harbour services
• Automotive OEM and Side Services
• Automotive OEM Investments
• Automotive Side Supplier Investments
• Railway/Tram Locomotives and/or Railway Cars
• Transit Pipe Line Transportation Services
• Electronics
• Medical, High Precision and Optical Equipment
• Pharmaceuticals
• Aircraft and Space Vehicle and/or Parts
• Machinery (including Electrical)
• Integrated Metal Production

Hear from our host who, as a regular exporter to Turkey, can advise you of their experiences of trading with this market. All the information provided will help aide your decision on whether you should take the next steps to trading there.

Delegates will be able to learn from an informative workshop delivered by Matthew Dabbs, International & Trade Channel Manager of Barclays, who are sponsoring the series.

Registration will begin at 3.30pm for a 4.00pm start, ending at 6.00pm with a light networking buffet.

Book your FREE PLACE at this seminar to find out how you can access this thriving market, by emailing [email protected]

Take a look here for details of the next five events in this series, covering Libya, Dubai, Angola, Saudi Arabia and Emerging Europe.

For help and advice any other matter relating to International Trade, you can contact Tracey direct on Tel. 01603 729711 or email: [email protected]