The Great Yarmouth Chamber Council meeting was recently held at the E-Tech Group’s office. The economic round robin highlighted that whilst Great Yarmouth businesses were doing reasonably well, the economic climate was still tough. A recent British Chambers of Commerce (BCC) Quarterly Economic Survey (QES) had indicated that confidence had dipped in the manufacturing and export sectors, in comparison to previous quarters. Chamber Council members in the engineering sector advised that although there was a lot of engineering work available, bank assistance for cash flow to support business growth was hard to obtain.
Simon Grey, the new CEO of East of England Energy Group (EEEGR) also attended the July meeting and updated the Chamber Council members on what he had achieved in his first 6 weeks on the job. It was agreed that it was important to ensure that both the local and the wider business community needed to be kept up to date on what was happening in the energy industry, particularly with regards to the wind and renewable energy sector.
Louis Hilldrup-Boorman has been appointed as Events Assistant Apprentice by the Norfolk Chamber of Commerce. Louis is studying for a level 3 NVQ and BTEC diploma in Marketing and is hoping to gain the work-based qualifications after an 18-month stint as part of the Chamber team.
Commenting on his appointment, Louis said: “I am very excited to be working with the Chamber. This is the ideal place to build my experience in event strategy, planning, promotion and delivery, because the Chamber is so well known for its superb event management. The team is great to work with and I am really enjoying my work here.”
Abi Charter, Senior Events Co-ordinator at the Chamber, said: “We are delighted to have Louis on board. He is already proving to be an invaluable member of the team here and has delivered a number of events. Event management is all about organisational ability, efficiency and attention to detail, all with a smile, and Louis has shown he has these qualities in abundance.”
Norfolk Chamber is supporting the National Apprenticeship Scheme, which provides businesses with an opportunity to appoint valuable staff members looking to gain a work-based learning qualification.
Annual CPI inflation down from 2.8% in May to 2.4% in June
Annual RPI inflation down from 3.1% in May to 2.8% in June
The biggest downward pressures on prices came from clothing and footwear
Commenting on the inflation figures for June 2012 published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:
“Inflation fell in June, which is positive news for the economy. If these trends continue, the squeeze felt by businesses and consumers will ease, and improved disposable incomes will boost demand in the economy. Lower global energy prices and the strong pound against the euro have contributed to these downward pressures. The rise in sterling could adversely affect competitiveness, but this is likely to be offset by increased demand as a result of lower inflation.
“There is a chance that towards the end of the year or in early 2013, inflation will temporarily fall below the 2% target. This will follow a prolonged period of above target inflation, and should not be a cause for concern for the MPC. While austerity measures are putting downward pressure on demand, there would be nothing wrong with allowing below target inflation to support consumer spending. With this in mind, we believe there is no need for further increases in quantitative easing.”
Do you want to play a key role in developing local hospital services? If you have the passion and a good track record in business or finance, then The Queen Elizabeth Hospital in King’s Lynn wants to hear from you. The hospital Trust Board has launched a search for a new Non Executive Director.
The new director is needed to take up official duties in the autumn, filling a vacancy created by the completion of a term of office of one of the six current non-executive members. Chair of the Board of Directors, Kate Gordon, says that the role presents a tough challenge but plenty of job satisfaction for the right person.
Kate explained: “We are a relatively small body of non-executives and we work very closely at Board and committee level with the senior executive staff. Our role is to bring the experience and skill we have developed in our individual careers into the NHS and to use it for the greater good of local people.”
This means playing a vital part in the initiation and development of new hospital services, and keeping a watchful eye on overall performance to ensure standards are maintained and local people cared-for efficiently and effectively. Non-executive directors do not become involved in the day-to-day running of the hospital but take a strategic role, planning the long-term development of services and keeping executives to account.
Kate said: “More than anything we’re looking for someone with a real passion and commitment to bring about change for the better. We are looking for a person from the Norfolk or Fenland area with a good track record at a senior level in business, finance or change management.”
Non Executive Directors receive a fixed remuneration to cover their time and expenses for the three days per month (as a minimum) that the commitment requires.
Additional details and an on-line application form are available on the NHS Jobs web site at: https://www.jobs.nhs.uk
Potential applicants can call Gill Rejzl, Company Secretary, for an informal chat on 01553 613614. Alternatively you can apply by sending a CV and supporting letter to: Gill Rejzl, The Queen Elizabeth Hospital King’s Lynn, Gayton Road, King’s Lynn, Norfolk PE30 4ET.
In the three months to May 2012 unemployment nationally fell by 65,000, compared with the previous quarter, while employment rose by 181,000
National youth unemployment fell by 10,000 but remains above one million. The number of people unemployed for over two years rose by 18,000, to its highest figure since 1997
Commenting on the labour market figures published today by the ONS, Caroline Williams, CEO at Norfolk Chamber of Commerce, said:
“The latest employment figures are encouraging following recent pessimism about the UK economy. But some causes for concern still remain. The number claiming jobseeker’s allowance is up slightly, the increase in the number of people unemployed for more than two years is worrying and youth unemployment remains high. Nevertheless, it is clear that the private sector is creating jobs while public sector employment is shrinking.
“These figures highlight the puzzling contrast between continued growth in jobs and the decline in GDP, which is being reported by the ONS. Although economic growth remains weak, it is difficult to believe that the economy has been in recession since the final quarter of 2011. Although many commentators expect the ONS to announce a third consecutive decline in GDP next week, it is important to sustain confidence.
“But many uncertainties lie ahead. Continued difficulties in the eurozone create challenges for our exporters at a time when austerity measures are putting downward pressure on domestic demand. Unemployment is likely to increase further over the next twelve to eighteen months, but the peak will probably be lower than the 2.9m figure predicted in our latest forecast. These positive job figures must be supported by important policy measures, such as more deregulation and creating a state-backed business bank to help businesses drive recovery.”
The Bank of England Agents’ summary for July 2012 was issued today, outlining that there had been a slowing in the annual growth rate of consumer demand and that confidence had dipped due to worries about the economic outlook. To read the full report click here.
“It is encouraging that two MPC members voted against the £50bn increase in QE”, says David Kern
Commenting on the MPC minutes published today by the Bank of England, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:
“While most commentators expected the recent decision on an increase in QE to have been unanimous, we are encouraged that two members of the committee voted against this move. The argument for increasing QE was questionable in our view, although the impacts of the eurozone crisis on the financial system make it understandable. The new funding for lending scheme could potentially be more important for businesses as long as the banks pass on the lower cost of funds to their customers. However, we are convinced that a state-backed business bank is necessary to allow viable businesses with growth potential to obtain funds on reasonable terms.
“No further QE increases should be considered for the time being unless the UK financial system faces new major threats. QE is not risk free and the longer-term inflation dangers associated with it cannot be ignored. It should certainly not be used to try and prevent inflation from falling temporarily below target next year. After a long period when above target inflation has heightened the squeeze on businesses and consumers, lower inflation will now support domestic demand in the economy and this should be allowed to continue.”
“What’s clear is that these announcements are long overdue. Business expects speedy action, rather than yet more unfulfilled promises.”
Commenting on the announcement of new guarantee schemes to kick-start infrastructure projects and support exports, Caroline Williams, CEO Norfolk Chamber of Commerce, said:
“Ministers’ newfound willingness to use the government’s balance sheet to kick-start stalled projects is a positive development, particularly as the BCC has called for urgent action on infrastructure for many months. The business community will be heartened to see the Treasury showing signs of innovative thinking on infrastructure financing. With luck, this indicates officials are willing to consider more radical funding options for bigger and longer-term projects.
“For too long, businesses have had to put up with deficient transport infrastructure that adds delays, uncertainty and cost. With traffic snarled on the A303 in the South West, the A1 and A19 in the North, and the A14 between the Midlands and East Coast ports to name a few, ministers must use both their chequebook and their legal powers to get Britain moving. The new scheme must also move swiftly to kick-start housing and energy projects – not tie them up in a long and complex application process.
“What’s clear is that these announcements are long overdue. The question must be asked: when infrastructure investment provides immediate confidence, followed by jobs and greater competitiveness, what has taken Whitehall so long? Business expects speedy action, rather than yet more unfulfilled promises. Only visible results on the ground will make this announcement, and the government’s National Infrastructure Plan, worth the paper they’re written on.”
On long-term export guarantees:
“The announcement of £5bn in long-term export guarantees will help many British firms seal significant deals overseas. This has the potential to support not just major companies, but many hundreds of others in their supply chains across Britain.”
Channel 4 is looking for businesses to take part in a new series aimed at helping small, independent, consumer-facing businesses improve profits and build a stronger customer base.
Do you run an independent consumer-facing business that is struggling to survive or expand? Channel 4 are keen to hear from all types of businesses, from independent tour operators to electronic shops, car dealerships to spas; motorway service stations to holiday parks and tourist sites. Whatever your business, if you’re struggling to make it a success we’d like to hear from you!
As part of this programme the successful applicant will receive advice and guidance from one of the UK’s Leading consumer-facing business experts to help you give customers great value-for-money and increase your profits.
The successful applicants will receive advice and guidance from one of the UK’s leading business experts. For more information, click here.
The Chamber of Commerce and Industry of Western Australia (CCI) works with the West Australian Corporate Acquisition Register (WACAR) to facilitate foreign business investment in Western Australia.
Strong economic credentials and a stable business environment have made Western Australia increasingly attractive to foreign investors. Foreign companies are looking for exposure to the mining and resources sector in Western Australia to take advantage of the general economic prosperity of the State.
WACAR works for and on behalf of purchasers to identify suitable acquisition targets, negotiate the transaction and locally manage the transaction process.
Further information can be provided by Keith Seed, Manager of International Trade Services, Tel: +618 9365 7637 or [email protected]
Targeting the Australian market? Australia offers opportunities for new overseas suppliers because it depends on a wide range of imported industrial and consumer products. The market is also very open to overseas suppliers – there are no import quotas and most import duties are 5 per cent (general rate), and zero for eligible developing countries.
Take a look at a guidecovering the Australian market, which outlines the key factors that must be considered by potential overseas suppliers if they are to take advantage of the opportunities in this competitive market.