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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 .

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?

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.

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. 

Sir Tim Berners-Lee has every right to have an opinion on the internet. He’s the man credited with inventing the world wide web. Among his many comments there’s this rather telling observation. 

‘There was a time when people felt the Internet was another world, but now people realise it’s a tool that we use in this world’.

In the business world that point has been proved beyond all reasonable doubt. Digital technology is now a key driver for the engagement of customers. It’s the interface through which businesses communicate and sell, as well as interact with, and gather information from, their markets.

We’re now in a world where we can no longer view technology as a separate function or discipline. It’s an integral part of business life; it’s a wide range of channels and platforms through which real practical business can be done.

What’s more, consumers expect it of businesses. For people of, shall I say over 30, there’s still a feeling of the ‘digital revolution’ being a relatively new phenomenon. But, those born after 2000, and arguably after 1990, are, as we define them, ‘digital natives’. These are people with no recall of a pre-internet world. And they’re the people who are your customers now, and the business leaders of the future.

Leading consultant Huw Sayer, who will be hosting the Chamber’s annual technology event on 23 September at The Space Norwich – this year themed – ‘The Future is Here’ – made the point that the head of John Lewis recently stated that they are now ‘a technology company’. It’s how they interact with  customers, not replacing in-store activity but enhancing the relationship with customers by offering more ways to research products, buy if they choose to, pay online and be kept up to date. It sums up the notion that the internet, and all the digital innovations that have come from it, are not separate from business, they are essential tools for it.

It really has to been seen as all embracing. As much as marketing messages can be sent out through digital technology, feedback and research can be brought in by it. And technology can be harnessed to store and manage the data that’s been acquired – by technology.

Whilst for some the generation of new high tech products is their business, for the commercial world in general the future is about how best to use technology to solve problems and deliver business, and customer, benefits.

Of course some things will never change. Face to face selling over a counter will remain an essential part of commerce for ever. The point is that you can find more customers to sell to, learn more about what they want to buy and engage with them more often than you’ve ever been able to before. And you can do that because of the technology available to you, sometimes literally, at your fingertips.

Which is why you need to be in touch and up-to date. Because technology and commerce aren’t two separate worlds. The one serves the other, for the future of the business world.

Book your tickets to THE FUTURE IS HERE – Putting Technology to Work on Wednesday 23 September at The Space, Norwich by visiting www.norfolkchamber.co.uk/thefutureishere