As the Coronavirus continues to impact the day-to-day operations of businesses across our region, Norfolk Chambers stand ready to support you. Working with the British Chambers of Commerce, we need to hear from you about how your business is coping.
The results from last week’s Tracker have now been published, but given the rapid pace of developments, we now need to understand the immediate short terms impacts, as well as some of the more medium to long term impacts on your business. We are in constant contact with the UK Government and Bank of England as business support packages have been developed.
In this 2-3 minute poll: – Covid-19 Business Tracker – please tell us the immediate business conditions you are facing and whether your business is aware of or has used the recently announced support packages from government. Your input is essential to our work on behalf of your business. We intend to seek your views over the next few weeks to track progress. As a business leader, your views have never been more important.
Charities must be run as businesses in order to survive in today’s highly competitive commercial world. The good will of sponsors, donors and volunteers that kept them going in years gone by just isn’t enough today, and balance sheets, cash flows and business plans are as important to small charities as they are to big corporations.
I’ve gained a real insight into the pressures and challenges that charities face as chairman of the board of trustees at Great Yarmouth’s amazing Centre 81. You’ll have seen their fleet of mini buses buzzing about the town and will probably have bumped into members enjoying themselves at the bowling alley, theatre or pub.
Formed more than 30 years ago and based in Tar Works Road, Centre 81 has two principal functions. It provides a skills and activities centre for more than 70 members with disabilities that vary in severity and complexity. Although they can socialise at the centre and enjoy activities like painting, cooking and IT, many of them get out and about to go sailing, visit restaurants and hit the shops, transported by our fully-accessible minibuses.
Those vehicles also provide a door-to-door community transport service for more than 700 local people who are disabled, elderly or don’t have access to other forms of public transport. It’s a lifeline that allows them to get to the supermarket or doctor, and to enjoy social activities like visiting friends or going to the cinema.
It’s a great charity, and a pretty complex business. Income is generated from commissioning agencies, membership fees, fares, sponsorship, donations and legacies, while costs include staff salaries, buying and servicing vehicles, and maintaining a set of old and somewhat dilapidated buildings.
Like all good businesses, Centre 81 has a plan. And quite an ambitious plan at that.
It has outgrown its present site and is looking to move to a new location that will enable it to help a greater number of disabled people to get more out of life. We’re looking to not only expand the skills and activities centre but provide a whole new range of services for Great Yarmouth, including supported living accommodation for disabled people and fully-accessible holiday units for people with disabilities and their carers.
We are currently looking at all the options for developing Centre 81’s activities, including opportunities for relocating to a larger site and the funding that will help us create a landmark project that will not only enhance the lives of disabled people living in our borough but the entire community.
Providing fully-accessible facilities doesn’t just mean installing wider doors for wheelchairs. Centre 81’s aim is to develop a centre that can be used by everyone in the borough – other charities, community groups, able-bodied and people with disabilities. It will attract new members and, perhaps more importantly from the local economy’s point of view, it will create more full-time and part-time jobs.
It’s a big challenge, but businesses thrive on challenges. And so do charities like Centre 81.
Last week’s Budget stated that ‘the UK is one of the most open economies in the world, with significant trade and financial links with other countries’. Whilst a weak European economy has led to subdued export growth to EU countries, other countries are picking up the mantle with a 24% increase in export volume to non-EU countries since 2010. This performance is reflected in the fact that the 3 month trade deficit (to Jan 15) was the lowest since October 2000 (at £4.4bn)
The Office of Budget Responsibility is upbeat too, forecasting exports growth of 3.9% in 2015, 4.0% in 2016 and growth of over 4.0% over the remainder of the forecast.
Turning to the investment for exporters, the Chancellor also revealed:
A £3.5m in 2015-16 for series of trade missions focused on the North A doubling of funding to £7.5M in 2015-16 for UKTI activities in China A £1.5m in 2015-16 for International Festival for Business in Liverpool, including attracting Foreign Direct Investment
It is good to see more resource put in place to boost Britain’s burgeoning exports into the Chinese market, and to fund additional trade missions, which help many companies get into markets for the first time. However additional resource is needed to support the smaller businesses looking to start trading internationally for the first time or looking to enter new markets.
The support the Government is giving Overseas Chambers as part of the Overseas Business Network Initiative (OBNI) has been very welcome but there is still more that needs to be done. Norfolk Chamber is making valuable links with many of these new markets in order to supports its membership take that first step into international trade or new markets with confidence .
Coronavirus Job Retention Scheme has been extended by one month to reflect continuing social distancing measures – a move that will allow firms from across UK to continue to protect millions of jobs
The government’s furlough scheme that is keeping millions of people in jobs will be extended for a further month, the Chancellor confirmed today.
Following on from yesterday’s announcement to keep the social distancing measures in place, Rishi Sunak said the Coronavirus Job Retention Scheme (CJRS) would now be open until the end of June – providing businesses with the certainty they need.
The scheme, which allows firms to furlough employees with the government paying cash grants of 80% of their wages up to a maximum of £2,500, was originally open for three months and backdated from the 1 March to the end of May. However, the Chancellor said he would keep the scheme under review and extend it if necessary.
Chancellor of the Exchequer, Rishi Sunak, said:
“We’ve taken unprecedented action to support jobs and businesses through this period of uncertainty, including the UK-wide Job Retention Scheme. With the extension of the coronavirus lockdown measures yesterday, it is the right decision to extend the furlough scheme for a month to the end of June to provide clarity.
“It is vital for people’s livelihoods that the UK economy gets up and running again when it is safe to do so, and I will continue to review the scheme so it is supporting our recovery.
The government has taken unprecedented action to help the economy and society bridge a period of national emergency so that as many people as possible can get back to work as the situation improves.”
Commenting on the announcement, Nova Fairbank, Head of Policy for Norfolk Chambers said:
“Norfolk businesses will be pleased that the Chancellor has responded to their calls for the Job Retention Scheme to be extended. This common sense move will provide many with the support they need to protect livelihoods as lockdown continues.
“With applications for the scheme opening on Monday, and April’s payday fast approaching, it is essential that payments are made as soon as possible. Any delay would exacerbate the cash crisis many firms are facing and could threaten jobs and businesses.”
The British Chambers of Commerce (BCC) latest economic forecast puts the UK in pole position amongst industrialised countries for growth in 2014 – a pretty significant feat, considering some of the dire warnings about the UKs relative performance just a year or two ago.
Yet their forecast also includes some important warnings, because the big structural problems we always hear about from businesses still aren’t sorted. Training and skills, a topic discussed so many times here in Norfolk. Infrastructure, which continues to creak, with a key meeting on the NDR next week needing business support being particularly topical. And critically, access to finance for growing businesses. I for one don’t believe that we can sustain business investment growth rates of 7-8% unless we see a revolution in this area over the next few years. We are certainly doing our part, by continuing our work with the BCC on a better Business Bank, a bond market for SMEs, more incentives for equity finance and by checking what businesses think about service from banks. That’s why this week, together with the FSB and the Treasury, BCC has launched the Business Banking Insight website. As their comment shows, it is all about boosting customer service, transparency, trust and competition in a sector whose behaviour is critical to the future prospects of growing firms.
Similarly, we are also urging the Bank of England to keep official interest rates low for as long as possible – and then raise them only gradually. This will help support business investment, and ensure that the rug is not pulled out from the wider economy by an overly hasty or large rate rise when monetary policy does start to change. Our bet is that this will now take place early in 2015, but in a world of increased political uncertainty there are no guarantees. We will be putting this point direct to the Bank of England when we meet with them next week together with a number of Norfolk Chamber members.
Speaking of uncertainty, the official Scotland referendum campaign gets underway today. From now until 18th September, it will dominate the media and political discourse. We know what firms think about the referendum’s impacts, but the people of Scotland will ultimately decide.
Between Scotland and the jockeying for the position of European Commission president in the wake of last week’s elections, you could describe it as an interesting time
Please don’t hesitate to drop me a line if the team can be of any assistance to our organisation on any topic [email protected]
The fact that language constantly evolves is obviously related to how society itself changes and develops. If there is one word that typifies, and links, these two strands it has to be ‘sustainability’. Only a few years ago the verb ‘to sustain’ was seldom used other than to mean lengthening or extending something, such as a discussion, and in a particular application, a musical note. Or, in another context we spoke of having ‘sustained’ an injury.
By 2005 The World Conference on Social Development had not only embraced the concept of what we now know as ‘Sustainability’, but it had gone further in setting down some goals for it. They included ‘economic development, social development and environmental protection’. These three overlapping, but not mutually exclusive, areas have emerged as key factors in defining the concept of Sustainable Development as ‘local and global efforts for basic human needs without destroying or degrading the natural environment’.
In retrospect it’s probably true to say that, for a period at least, these goals and definitions were perceived, by some, as rather esoteric. Right now they’re anything but. They’ve retained their integrity as a means to protect the planet’s resources for the coming generations, but they’ve gained the commercial reality of being the catalysts for emergent technologies that drive innovation, competition and cost savings.
To put the relationship between commerce and conservation into sharp focus consider the profound and provocative question posed by ecological economist Herman Daly when he asked, “What use is a sawmill without a forest?”
The reality is that successful companies are already embracing low carbon innovation and sustainable strategies knowing that they will deliver on the bottom line, and that they will affect the world for the better.
The issue is constantly high on our agenda at The Norfolk Chamber of Commerce which is why we’re hosting our now annual conference on Sustainability at The John Innes Centre on June 12th. The line-up of speakers, from national companies, reflects not just the significance of the event, but also the importance, and benefits, of the sustainable economy to today’s business world.
Here in Norfolk we have leading companies who are actively engaged in sustainable development, and it’s working for them. They are big thinking organisations who realise that demonstrable transition to a sustainable economy will contribute to economic recovery, create employment, protect resources and help make the UK increasingly competitive on the global stage.
Even now, the concept is referred to at times as ‘The New Economy’. It does take time for big ideas to be adopted. The Agricultural, and subsequent Industrial Revolutions were once ‘the new way’. The emergence of the ‘Digital Age’ was inevitably labelled as the ‘new era’. The realisation that we now have another direction to take, because failing to do so will endanger what we now understand as less than finite resources, is of course a huge shift in thinking. But the really big bit of thinking comes with seeing that ‘sustainability’ is both an environmental essential and business benefit. It will extend the life of our planet; it will extend the life of our commerce. ‘Lengthening and extending’ – not far away from that original definition then. Nor that other usage, because without this thinking our world, and our business world, will sustain injury.
So, a word to the wise. And whilst I’m referring to definitions you’ll find that the meaning of that phrase is that ‘you only have to hint something to wise people to get them to understand it’. Sustainability. Enough said?
The Chief Executive of Her Majesty’s Revenue and Customs, Jim Harra, has announced that the Coronavirus Job Retention Scheme (CJRS) for furloughed workers is due to open on 20th April 2020 for applications.
The CJRS was announced on 20th March 2020 and is due to back date payments to the beginning of March but has not yet opened for applications, despite the fact that many companies have been furloughing staff for weeks already.
Jim Harra told MPs on the House of Commons Treasury Select Committee that he was confident the scheme would be able to handle the anticipated surge in applications when it opens on 20th April 2020. Mr Harra also added that he expected the scheme to make ‘payments later this month, before the 30th April’.
Commenting on the announcement, Nova Fairbank, Head of Policy for Norfolk Chambers said:
“The Coronavirus Job Retention Scheme was welcomed by the Norfolk business community and will undoubtedly protect jobs, but we need HMRC to meet their commitment of making payments before the end of April . As our recent business poll identified, 77% of local firms said cash flow was their number one concern and many companies will not have the cash to pay staff for another month, without access to the Government’s furlough payments.”
Coronavirus continues to have a huge impact the day-to-day operations of businesses across our region. Norfolk Chambers stand ready to support you, but we need to understand what challenges you are facing and how well the government support initiatives are working. Working in partnership with the British Chambers of Commerce, we need to hear from you about how your business is coping. In this 2-3 minute poll: Covid-19 Business Tracker – please tell us the immediate business conditions you are facing and whether your business has recently used any of the support packages from government and what your experience was.
Your input is essential to our work on behalf of the overall Norfolk business community. As a business leader, your views have never been more important.
Four years ago the Equality Act brought together various pieces of legislation, and provided for nine ‘protected characteristics’, namely pregnancy and maternity; marriage and civil partnership; sexual orientation; sex; religion or belief; race; gender reassignment; disability; and age.
It would be nice to think that legislation was, and is, unnecessary to tell us that everybody should be treated the same. But, although we’ve embraced ‘diversity’, there are still issues that have to be addressed.
When the Equality Act 2010 was in its infancy there was much advice dished out to employers. It was often defensive. Would newly empowered staff be instigating countless tribunals? ‘Claims may now be successful even when there is insufficient evidence to prove discrimination based on just one of the characteristics’ was a warning. ‘Pay secrecy’ was to be illegal; the staff could compare their salaries! Was this too much ‘power to the people’?
It all rather detracted from the aims of the Act which were to ensure that everybody was given an equal chance and not suffer discrimination.
Four years on we’re more positive and see the benefits of equality and diversity. Employers with a diverse workforce have a wider talent pool to draw on. A mix of ages creates a team that blends youthful thinking with seasoned experience. A balance of genders creates a more informed workforce with male and female opinions represented. A diverse corporate culture has a positive effect on morale; people like working for an aware company.
And yet, even allowing for these business benefits, some are still ‘more equal than others’. I’m not proposing more legislation. What I am suggesting is that there is still a need for cultural change. Take child care, and care for the elderly, as examples. The cost of looking after working parents’ children is much discussed. But the concept of greater flexibility in working hours is something that could help parent, child and employer in a ‘win win’ outcome. An experienced person is available for work, the employer benefits from that, and family life is easier arranged.
With increasing longevity many people now have the care of elderly parents to consider. Are there valuably experienced workers out there who are, probably unintentionally, discriminated against because they need a bit more flexibility in the times they could start and finish work?
The benefits of a more diverse workforce are particularly attractive to smaller businesses. A range of experience, a flexible workforce, the stimulation of ideas from a mix of backgrounds all contribute to a vibrant working atmosphere. Is there though a problem in the small business sector in that they suffer from a lack of known role models? It’s not universally true of course but when the media want examples of glass ceilings and class divides it seems they look no further than our big and established institutions. Many of them talk the talk, but visibly fail to walk the walk. I would like to see our smaller businesses’ good practice more visible as an example to others.
I’ve commented before in this column on the subject of technology, and how it’s changed the way in which we communicate. In short, we can now send messages to each other faster than ever before. Distance is no object. Time is irrelevant. It’s a 24/7 world of constant communication. Which is fine, provided you have people to communicate with.
One thing the digital age hasn’t changed is that businesses need to connect with each other in order to trade. You need to know who is out there, if there is a realistic chance that they will buy from you and how best to meet and talk with them up to, during and after the sale.
How you do that has altered. The online media are now essential to connect with customers.
There’s a phrase in current business circles that’s rapidly becoming something of a mantra. ‘Content is king’ they say. It’s true that using the digital and social media to carry positive information about your company, and developments within your market, is a solid bedrock for your online strategy. But do you know if your audience is actually reading your blogs, or following you on Pinterest, or Google+. Can you be certain that they even look at, let alone appreciate, the content on your website? It’s the never changing conundrum of media and message. Except in today’s world you need to establish that you’re on the same digital platforms as your target audience.
Now, let’s assume, (and why not?) that your online strategy works. With an enhanced digital profile, positioned as a source of expert knowledge through generating high quality content and engaged with web savvy potential customers, you’re out there in the never sleeping world of cyber selling. Liked, favourited and re-tweeted your brand awareness has never been higher. That’s all great, provided you’ve put in place a plan to future proof your customer strategy. You need to have asked yourself if your business will be ready to cope with the growing number of customers looking to Twitter and Facebook for customer service.
Certainly at the Norfolk Chamber of Commerce we embrace the potential of digital marketing. In fact our ‘Click and Connect‘ event in Norwich on September 25th (full details on our website norfolkchamber.co.uk ) is aimed specifically at helping businesses use the online media to their best advantage. My point is that even as we hurtle through this current period of technological advancement, some things don’t change. Things like getting your message right; and finding the right media to get that message to the right audience. What has changed is the number and variety of media available, and the unprecedented voraciousness of audiences engaging with your communications and connecting with your brand all the time, across multiple platforms. Not having a strategy to manage that is commercial suicide.
Getting connected has never been easier. Are we making it work for us is the question. Having an online strategy is the answer.
As part of Norfolk Chambers’ #NorfolkChamberHour at 11am on Tuesday 28 April, we are partnering up with New Anglia Local Enterprise Partnership to check in with your favourite local businesses and make sure they don’t miss out on grants available to them – that’s the message behind the Big Small Business Check-In #bigbizcheckin.
The initiative encourages everyone to check in with local small businesses, through their websites and social media accounts. It’s an opportunity to check that owners and staff are safe and well, to show loyalty and to make sure that the business is getting the support it needs.
Chris Starkie, Chief Executive of New Anglia LEP, said:
“This is a really challenging time for small businesses but there is help available – including grants for small businesses and hospitality, retail and leisure firms.
“Those are being paid out directly by local authorities, but we know that a number of companies have yet to come forward and claim. By checking in and making sure your favourite local businesses are aware of the help which is out there, you could be doing them a financial favour too.
“So think about your hairdresser, your favourite coffee shop or even your dog groomer or market trader – those sort of businesses could be eligible for grants. They are still eligible if they are currently closed due to Coronavirus restrictions so make sure they know what help is out there for them, and that you’re looking forward to visiting them again in the future.”
Make sure they have accessed free, impartial business support if they need it. They can speak to an adviser at the New Anglia Growth Hub for free on 0300 333 6536
Adam Marshall, Executive Director of Policy and External Affairs at the British Chambers of Commerce, recently commented on the fact that now our recently elected, Government is enacting some of the policies that formed part of their manifesto. His point was that there can be a gap between a government’s policies and their political agenda. Without wandering into the dangerous waters of party politics it is interesting to think about the gap that exists between government’s policies and the world of business and commerce.
For example there’s the time lapse between implementing a policy and businesses seeing any positive or negative results from it. Nothing is instant.
In fact the concept of ‘gaps’ is very much in the Chamber’s mind at the moment with our specific campaign of ‘Bridging the Gap’ in place to deal with the links between business and education. Filling the ‘skills gap’ is something that businesses have identified and seek Government backing for. Ideally it’s a ‘virtuous circle’ of commerce and Westminster working together to plan for the future and the greater good of young people, and the economy as a whole. There needs to be a greater understanding between the world of work and the world which schools have to live in, to really bridge the gap between business and education. The Chamber has a core role in achieving this.
But what about some other ‘gaps’? The first that springs to mind is the rift between the focus and exposure given to the North – and its ‘powerhouse’ label – and our region here in the east. We have enormous potential here, fuelled by world class companies who design, make and create service and products for domestic consumption and export. We must not let our profile reduce as others’ gain more awareness.
The ‘gender gap’, is another vital issue that, despite enormous progress, still needs constant attention.
It’s important that girls and young women should be encouraged into jobs and sectors which are currently male dominated often for historical reason, but it is as important that there is a greater understanding across both genders about the opportunities open them not just for young people but across the age ranges here in Norfolk.
I mentioned exporting, and returning to it in more detail there’s another possible crack, that needs to be reduced. The international political landscape is volatile and there are real tensions across the globe. However there are many world markets open for business and looking for the goods and services we provide here in Norfolk which will assist our local business to grow and create more jobs. Businesses need to be aware of the issues but they will normally find a way to market with the support from organizations like the Chamber. .
Whatever you’re planning, wherever you’re trading and whatever policies are in place – ‘Mind the Gaps’ and let’s work together to close some of them effecting Norfolk businesses.