Chamber News

Up until the 6th Aug 2021, HMRC will accept full import declarations for anything imported since 1st Jan 2021. Importers must therefore take action now by submitting a full import declaration.

The imports will however be deemed ‘non-compliant’ by HMRC, who may decide to apply civil penalties after looking into any outstanding duty debts that exist, and/or repeat offences evident.

Acting quickly could therefore save importers money.

Follow this link to also note the Additional steps required for ‘late’ declarations. Check whether the Tax, Duty, or HMRC exchange rate was different when the goods were imported. If it is different, you must file a supplementary declaration.

Also, please note, that because the goods have been imported ‘non-compliantly’, it will not be possible to defer any of the liabilities to import duties. Postponed VAT accounting cannot be used. You must either use your deferment account, or Flexible Accounting System for VAT.

The Norfolk ChamberCustoms team are here to help. Call us now on 01603 729 707.

Hannah Essex, Co-Executive Director of the British Chambers of Commerce, said:

“Businesses across England will recognise the momentous nature for many of the prospect of football ‘coming home’ on Sunday night. 

“After such a tough 15 months, the final will lift people’s spirits and give an added kick to consumer and business confidence.

“Firms already set up to work flexibly should be able to easily plan for allowing staff short periods of time off. 

“Ultimately there will be some jobs where it will be difficult but I’m sure most employers will be thinking about allowances to ensure everyone stays onside.

“Talking to staff and customers about plans, as well as taking a fair approach, should reduce disruption and decrease any resulting penalty to businesses’ productivity.

“And I think we can all agree the one thing we want to avoid is penalties.” 

As all UK businesses start to think about fully reopening, your Norfolk Chambers, British Chambers of Commerce and the Chambers network have set out the steps we think are needed for governments, businesses, and other public and private sector bodies to secure a brighter future for the UK. It’s time to Restart, Rebuild and Renew.

At the BCC’s Global Annual Conference earlier this year, Shevaun Haviland, Director General of British Chambers of Commerce, launched Rebuild, the Chambers’ vision of the work that now needs to be done to help businesses succeed as the economy starts to fully reopen.

Rebuild: Recommendations For Building Back Stronger is a hugely important document that sets out the steps we think are needed for governments, businesses, and other public and private sector bodies to secure a brighter future for the UK.

The UK is at a pivotal moment in its recovery from the impact of Coronavirus.

From the safe re-opening of offices, factories and schools, to the easing of both national and international travel restrictions, these changes and the adaptations to the ‘new normal’ will be felt by businesses up and down the country.

In each step in our road to recovery, through every government announcement and new policy, your Norfolk Chambers and the Chambers network is there to ensure the business voice is at the heart of the governments recovery plans. 

The Chambers’ approach is informed by our Coronavirus Business Impacts Tracker and the experience and insights of our Chambers of Commerce and Global Business Networks. Together, we understand the impact of Coronavirus on businesses in every region in the UK and over 60 markets worldwide. 

Over the next 6 months we will be asking decision makers across the nations to take the active steps set out in our report, which will create the conditions needed for firms to be able to rebuild the power of the recovery. 

Key highlights include:

Restart With a phased reopening of society. Public health must be at the heart of plans to reopen services and businesses.

Rebuild Building resilience for firms and households with steps to help businesses and the wider economy recover from the impact of Coronavirus, including building resilience and mitigating the impact of sectoral and regional restrictions.

Renew Returning to prosperity and growth with bold and substaintial action to inject momentum and confidence back into the UK economy with measures aimed at delivering an economic recovery across the whole of the UK.

Shevaun Haviland, Director General, British Chambers of Commerce said: “Just as the government supported firms to survive through the crisis, they must also act now to enable them to thrive in the recovery.

“Recovery from the pandemic is not the only challenge that businesses face: skills shortages, rising costs, and the climate challenge were all issues top of mind for business before the crisis hit. In rebuilding our economy, we must take the opportunity to not only recover from the damage caused by the pandemic, but to also begin to tackle these long-standing issues which have remained unresolved for too long. Our SMEs will be the powerhouse of our recovery. Without intervention, there is a risk of a two-speed recovery, where the UK’s SME community lag behind those larger businesses with the cash reserves and investment needed to recover.”

The past 18 months has been challenging, but what do you need right now and in the next few months to help support business growth?

What You Need Is What We Do, and Team Norfolk Chambers would like to know what Norfolk businesses need so that we can be better placed to provide you with tailored support, connections and knowledge. 

You will be glad to know that this is not a long-winded survey! Instead we would like to hear from you on email, telephone, social media and even face-to-face what you need right now to help your business, your employees and yourself. 

If you follow us on social (check us out on LinkedIn, Facebook, Instagram and Twitter @NorfolkChamber) take part in our poll, comment on our posts or send us a message. If you are a Norfolk Chamber member, contact your account manager and let them know. If you like to talk to a real person pick up the phone and call us on 01603 625977. If you prefer to email, drop us a message at [email protected] 

This is the time to get your views heard and find the help and support you need to do better business. 

So what are you waiting for? Team Norfolk Chambers is here and ready to support you in whatever way they can.

Find out some of the ways we can help you in business by checking out our trading cards here 

• Significantly more Norfolk firms reporting improvements in key indicators, such as domestic sales and business confidence with some measures returning to pre-pandemic levels

• However, these rises come from the lowest base in the 31-year history of the QES, and business conditions remain fragile

• The balance of manufacturers expecting to increase their prices hits the highest level in the history of the QES dataset, while the proportion of businesses citing inflation as a concern (50%) rises to highest level in nearly a decade

The British Chambers of Commerce’s Quarterly Economic Survey (QES) – the UK’s largest independent survey of business sentiment and a leading indicator of UK GDP growth – has found a marked improvement in business conditions in Q2 as Covid restrictions eased.

The survey of over 5,800 firms, including those in Norfolk, showed that some key indicators, such as domestic sales and business confidence, displayed significant rises, as more firms reported improved conditions, with some indicators returning to pre-pandemic levels as Covid restrictions have eased. However, it also showed steep rises in the number of firms, particularly manufacturers, expecting to raise prices, and in businesses citing inflation as a cause of concern.  

Key Norfolk findings:

• Balance of firms saw an increase in export sales
• Balance of firms are expecting their turnover to increase
• Confidence in profitability rose
• Balance of manufacturers expecting to increase their prices at highest level in the history of the QES dataset starting in 1989  

Business activity  

Overall, indicators of immediate business conditions show improvements in Q2, with clear rises in activity from Q1 and multiple indicators reaching pre-pandemic levels.   

43% of firms overall reported an increase in domestic sales in Q2, rising from 29% in Q1 and indicating the first significant rise in this metric since the initial rebound from the first lockdown in Q2 2020.  10% reported a decrease, compared to 38% in Q1, while 47% reported no change. 

Within the service sector, firms who have continued their operations more steadily through the pandemic, saw further improvement. Marketing and media, at 52%, had the highest proportion of firms reporting increased domestic sales in Q2, followed by professional services (46%), up for both from 35% in Q1. The proportion reporting decreases in Q2 was 16%, down from 33% and 29% respectively in the last quarter. 

Consumer services (35%) had the smallest proportion of firms reporting increased domestic sales in Q2 (up from 19% in Q1), followed by hotels and catering at 38% (up significantly from 7% in Q1).  

In the services sector generally, the balance of firms reporting increased domestic sales increased to +39% in Q2, up from -27% in Q1. 

In the manufacturing sector, the balance of firms reporting increased domestic sales decreased to +20% in Q2, down slightly  from +22% in Q1.

Cash flow   

The indicator for cash flow within Norfolk’s manufacturing sector continued to show signs of downturn with only 5% of firms overall reporting an improvement in cash flow, a 3-point fall from Q1. 74% reported no change and 24% reported a decrease, up from 16% in the previous quarter. 

 Hotels & catering firms saw an improvement in cash flow after three quarters of worsening indicators. 47% reported a decrease in cashflow in Q2, down from 81% the previous quarter, with nearly a third (30%) reporting an increase, up from only 7% in Q1.  

In the services sector, the balance of firms reporting improved cashflow increased to -5% from a very low figure of -41% in Q1. Whilst still in negative territory, this still a huge improvement.

In the manufacturing sector, the balance of firms reporting improved cashflow decreased to +0% from -16% in Q1.  Clearly there are still some challenges being faced by our manufacturers.

Confidence & Investment

68% of Norfolk firms overall said they expected their turnover to increase over the next 12 months, an increase from 62% in Q1. 13% expected it to decrease, compared to 23% reporting a decrease in Q1. 

All sectors have seen a rise in the level expecting turnover to increase when compared with the previous quarter. Marketing & media firms and professional service firms and are most likely to expect an increase in turnover with 70% and 66% respectively expecting turnover to increase. Public or voluntary services firms (54%) are least likely to expect an increase in turnover, followed by consumer services firms (57%). 

In the services sector, the balance of firms reporting expecting turnover to increase over the next twelve months rose to +67% in Q2, up from +63% in Q1.

In the manufacturing sector, the balance of firms expecting turnover to increase over the next twelve months increased to +68% in Q2, up from +58% in Q1. 

The percentage of firms reporting increased investment in plant & machinery returned to pre-pandemic levels. 29% overall reported an increase, up from 14% in previous quarter, with 14% reporting a decrease, down from 30%. 

Prices & Inflation

In the services sector, the balance of firms reporting expecting to increase their prices dipped to +38% in Q2, down from +43% in Q1. 

In the manufacturing sector, the balance of firms expecting to increase their prices remained at +74% in Q2. This is the highest level in the history of the QES dataset starting in 1989. 

Raw materials costs are cited as the key driver of rising prices, with 100% of manufacturers citing this, while the upward pressure from pay settlements was little changed, cited by only 6% of manufacturers. 

46% of respondents cited inflation as an external factor of concern to their business, the highest percentage since Q4 2011, and up significantly from 36% in Q1. 

Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:

“Our latest survey points to a striking rebound in underlying economic conditions in the second quarter.  

“The UK economy is in a sweet spot right now with the rapid vaccine rollout, the release of pent-up demand as restrictions eased and ongoing government support driving a strong revival in indicators of activity in the quarter. 

“The rebound in services activity was distinctly two-paced, with business services providers recording the biggest gains in the quarter while consumer-focused services firms, where the remaining restrictions most limit activity, saw the smallest improvements. Manufacturers enjoyed a notably strong three months, despite ongoing supply chain disruption. 

“The historic uptick in price expectations suggests that inflation will drift markedly higher over the near term. However, with our results also showing little evidence that higher inflation is becoming embedded in higher pay settlements, the MPC should have sufficient scope to tolerate a marked period of above target inflation. 

“The upturn in forward-looking indicators points to a summer economic rebound. However, the second quarter may be the high point for the UK economy with momentum likely to fade somewhat later this year when government support ends and the transient boost from the economy reopening dissipates.”  

Responding to the findings, Nova Fairbank, Chief Operating Officer for Norfolk Chambers, said:      

 ”This latest set of results show that an economic recovery is beginning to take shape, but our members are also telling us that many Norfolk businesses are far from being out of the woods yet. Whilst firms may be beginning to finally see cash coming in, most have a long way to go before they are trading at pre-pandemic levels. 

“We must also not forget that while some sectors are now able to operate relatively freely, many such as travel remain heavily restricted, and some are still forced to stay closed altogether. These businesses still have their ability to trade limited by law yet are now seeing government support removed just as they can see light at the end of the tunnel.

“These firms have fought incredibly hard to get to this point and they deserve the chance to contribute to the recovery, and it is not too late for government to give them that. The taper of government payments into the furlough scheme should be immediately deferred until we take the final step in the roadmap, and further grant support should be extended to the worst affected businesses. 

“Government should not see the signs of recovery demonstrated in our results as job done, they should see it as game on. Now is the time for government to work with the Chamber Network to rebuild our country into a better place to do business than it has ever been before.” 

As Coronavirus continues to impact the day-to-day operations of businesses across the UK, your Norfolk Chambers of Commerce and the wider Chambers’ network stands ready to support you. 

Since March 2020, thousands of businesses across the UK have contributed to the British Chamber networks’ business surveys. The data we collect from our surveys have been the leading sources on business conditions and have been used directly to support the decision to extend Covid-19 business support schemes. Your views have been absolutely essential to this. In this 7 minute survey, feel free to give us your views on the process of reopening and returning to work, upcoming changes related to Covid-19 support, the measures your business may be taking to become net zero, and the support you may need. Your input will be shared widely across UK government to create better business policy. Our research receives widespread national media coverage, and with your consent, we may also ask you to share your views with media outlets. As a business leader, your views have never been more important. To share you thoughts to help us lobby on your behalf, please take the short survey here.

Norfolk County Council has awarded the contract to design and build the Norwich Western Link to Ferrovial Construction, a leading construction and engineering company.

Ferrovial Construction will start work immediately alongside the council’s existing project team to further develop the design of the Norwich Western Link, including the new 3.8 mile dual carriageway road between the A47 and Broadland Northway and many of its associated measures.

This work will feed into the pre-planning application public consultation which is scheduled for the autumn, which in turn will inform the planning application for the project, due to be submitted in early 2022.

Cllr Martin Wilby, Norfolk County Council’s Cabinet Member for Highways, Transport and Infrastructure, said: “Ferrovial Construction have a great track record in designing and building large-scale infrastructure projects and will bring specialist expertise to the project, including in relation to the design of the viaduct across the River Wensum.

“Creating the Norwich Western Link is a priority for this council and it’s vital to ensuring we have the right infrastructure in place to not only tackle existing congestion and delays but to accommodate future population and job growth. We’re looking forward to working with Ferrovial Construction to deliver such an important project for Norfolk.” 

Karl Goose, UK Managing Director, Ferrovial Construction, said: “We are delighted to have been selected to deliver the Norwich Western Link. We will be bringing our expertise and experience at delivering highways projects in the UK, Ireland and around the world to provide Norfolk County Council and the region with a world-class piece of infrastructure.

“We will be delivering this project with local teams, opening new opportunities for people in Norfolk and a gateway to careers in the industry and sustainable career development paths.”

Ferrovial Construction were the highest scoring bidder from a competitive procurement process for the project which began in summer 2020 and during which they began developing their proposals for the project. Their appointment today followed a decision by the county council’s cabinet earlier this month to award the contract.

At the same meeting cabinet members also agreed to approve the outline business case for the Norwich Western Link, and this has now been submitted to the Department for Transport. The business case demonstrated that the project would provide high value for money, significantly reduce many journey times to the west of Norwich, improve road safety and reduce carbon emissions from vehicles. If the outline business case is approved, this would provide a funding commitment from government which is expected to cover 85% of the £198 million total project costs.

For more information about the Norwich Western Link, please visit www.norfolk.gov.uk/nwl.

Norfolk Chambers of Commerce mission is to connect, support and give voice to ALL businesses in Norfolk, and as we move to our new home in Norwich city centre we aim to make it easier for businesses to access business support, networking and collaboration opportunities – and there are more Norfolk Chambers hubs across Norfolk to come! 

What you need is business support that is easily accessible wherever you are in Norfolk – including meeting face-to-face. 

What we do is move your Norfolk Chambers to key locations starting in Norwich and we are setting about building vibrant hubs throughout Norfolk for all to use. 

What You Need Is What We Do. 

And this is just the start. We are currently busily settling into our new home in Hardwick House on Agricultural Hall Plain, the old Savills building, or Anglia TV, or post office building, depending on your age! Eventually this will become a busy business hub, sporting a business cafe and space to hold events and networking sessions. We are also planning to open up business hubs in all corners of Norfolk, so that wherever you are there will be ways that you can connect, get support and talk to us about what you need to make your business great. 

Chris Sargisson, CEO of Norfolk Chambers said: “Another piece of the ‘modernise the Chambers’ jigsaw slots into place. To truly represent the business community we needed to be better imbedded in the business community and this new space (and hopefully future locations) will do just that.” 

The new Director General of the British Chambers of Commerce, Shevaun Haviland, last week set out the action needed to help firms and communities rebuild.  

In her first speech at the BCC’s Global Annual Conference, she stated that key steps are needed to boost UK trade, unlock the blockages in the skills training system and build a greener and more sustainable economy that achieves the aim of net zero by 2050.

Putting trade and export at the heart of her future vision for the country, she said:    

“Imagine what a difference it would make to our economy if we could increase the number of businesses that export from 10 to 20 per cent? We know from our survey data that internationally active firms are more likely to be innovating and introducing new products, services, and processes than those not working globally. 

“If we are going to truly succeed in our new trading conditions, the government and business must work together shoulder to shoulder. The Government must bring together all organisations working in this area, both public and private sector, behind a shared UK trade and investment strategy.” 

Following last Monday’s news of the delay on full reopening for England, Ms Haviland also warned against the government removing support for businesses too early and of the risks of an uneven recovery saying;

“Despite the challenges firms have faced – the rising burden of debt and depleted cashflow – there are signs that firms are beginning to feel more positive about the future,”….  “While it may be slow, they can see a route back to full operation, where they can start to invest and power the economic recovery.”

“That’s why today I am setting out the BCC’s recommendations to rapidly Rebuild the economy, to not just take this country back to where we started, but to go beyond that to a better, reener, more productive future. 

“We know the financial support put in place during the darkest hours of the pandemic cannot, and should not, last forever. But we must ensure this scaffolding is not taken away too early.  

“With many firms struggling with the damage done to their cashflow and revenue by COVID, the risk of a marked rise in insolvencies and redundancies as government support winds down remains high.   

“And the recovery will be dramatically uneven across different sectors, locations and demographics. So just as the Government supported firms to survive through the crisis, they must also act now to enable them to thrive in the recovery.” 

Tributes were made to the role that accredited Chambers of Commerce have made to keeping businesses afloat throughout the pandemic adding; “As Chambers of Commerce, our business is all about helping other businesses to succeed. And this crisis has allowed our Chambers to do what they do best. 

“Firstly, our 53 Chambers across the United Kingdom have incredible local knowledge and networks, and they have provided unparalleled support to businesses in their places, to help carry them through the crisis…”

 ”…Secondly, by working together through the British Chambers of Commerce we have been able to help shape the policies that have kept us all in business.”

“And lastly our growing network of 73 International Chambers around the world, puts us in a unique position of strength to grasp global opportunities as we open up again.”  

The BCC is also publishing it’s Rebuild report – which sets out the detail of what the organisation believes is needed for UK businesses and communities to prosper in 2021 and beyond.

Last week the UK and Australia Government reached an historic Agreement in Principle to sign a Free Trade Agreement, which is projected to significantly boost trade with Australia (https://www.gov.uk/government/news/uk-agrees-historic-trade-deal-with-australia).

International trade, the investment it brings, and the deals we’re negotiating will deliver growth, jobs, higher wages and a better standard of living to all parts of the UK.  Attached is a useful 1 page summary capturing some of the key benefits. 

Over the coming months DIT will be running a series of events and webinars (which you can find on www.events.great.gov.uk)  and training collaborations (for example through the Export Academy that we have just starting rolling out) about trading with Australia so that businesses are ready to take advantage of the easier trading arrangements once the deal is signed and then ratified by Parliament. We hope you will join us in promoting this great milestone, which will create great opportunities for local exporters and investors alike .

Driven by a modern and ambitious trade agenda, we are continuing to work with our closest trading partners spanning the Americas and the Pacific to unlock some of the most competitive and favourable trading conditions. This includes:

• Signing the historic UK-Japan deal (key information)
• Completing four rounds of negotiations with New Zealand
• Kicking off preparations for a trade deal with India by launching a 14-week consultation
• Beginning our accession process to the Comprehensive and Progressive Agreement for Trans Pacific Partnership
• Announced the new trade deal with Norway, Iceland and Liechtenstein

All of this work further secures the UK’s position as an independent trading nation and will bring benefits to the UK as a whole.

  William Bain, Head of Trade Policy at the British Chambers of Commerce Statement    “Businesses will welcome this Agreement in Principle as a step forward. However, there is a long way to go before the signing and implementation of a free trade deal. It should also be pointed out that trade with Australia represents only around 1.2% of the UK’s total, so whilst a deal will have welcome benefits it will not offset the ongoing issues with trade to the European Union.     “Today’s agreement opens the door to a free trade agreement in force next year with lower tariffs, modern rules of origin for certain manufactured goods, customs facilitation measures, mutual recognition of qualifications, a labour mobility scheme, and stronger market access for services between the UK and Australia.    “Businesses remained concerned about the lack of opportunities to properly scrutinise trade deals including this one. There needs to be more in-depth industry consultation, particularly in sectors considered sensitive, to better analyse UK’s offensive and defensive strategic interests and the impact on other agreements.    “Ultimately it is businesses not governments that trade, and this deal with Australia needs to be complemented by providing practical, on the ground, support to help firms maximise the new opportunities the agreement will bring.    “We urge the government to engage closely with businesses over the coming months on how to get the most value out of the final agreement. Chambers of Commerce stand ready to work with government to ensure that the benefits of this agreement are felt by firms as widely as possible.”    Find attached the Top ten benefits of the Australia Trade deal

Do you have anything to declare?

Importers and exporters, you have until 1 July 2021 to make a full declaration on your EU imports that have arrived in the UK after 31 December 2020 – but don’t worry we can help.

Our International Team work with Chamber Customs to provide you with all the documentation you need to avoid falling into arrears with any duty or VAT payments due on your imports.

What You Need Is What We Do.

Contact us on 01603 625977 or email us at: [email protected]

There are now 4 more trading cards to co.nnect with, as the remaining members of Team Norfolk Chambers joins our mission to connect, support and give voice to every business in Norfolk. 

Team Norfolk Chambers is here and ready to help support you and your business with a range of skills such as making business connections, promoting what you do and how you do it, giving you access to exclusive discounts, helping you make change, and crafting bespoke business support specifically for you.

Now there are 4 more members of the Team to get to know. Introducing Charlotte Upcraft, Paul Vincent, Nova Fairbank and Chris Sargisson. As with the other members of Team Norfolk Chambers, each have their own trading card with a moniker that highlights the key skills they can offer Norfolk businesses.

Charlotte, AKA The Fixer is the project coordinator queen, helping support businesses with projects that can enable them to do better business.  Paul, AKA Mr. Finance helps businesses navigate the challenging world of finance and accounting, he has non-stop energy and can help businesses get the financial support they need. Nova, AKA The Guru is the ‘holder of the knowledge’ and can help businesses get the know-how they need to help their business grow. Finally, Chris, AKA The Disruptor enables those businesses whose results need a boost to develop strategy that refocuses on customer experience, digital transformation and developing a workforce with a renewed mindset to help the business gain a bigger part of the market it seeks.

The four join the Membership and International teams, and together Team Norfolk Chambers can help make things happen for businesses like yours. If you need bespoke support for your business – we can provide membership that can be as individual as you are. If you need to increase your customer base – we can connect you to like-minded businesses. If you need to shout about a project/product you have launched – we can amplify your message. If you need exporting advice – we can help you trade globally. If you know what you want to do but don’t know where to start – we can support you by making collaborations.

Each of us have difference skills, but when we co.llaborate we are a unique force for your business.

What you need, is what we do.

Can you Co.nnect With ‘Em All?

Find out more here.