Chamber News

Much has changed since the Great Eastern Mainline Campaign business case was published in 2014: the new franchise is well underway with the imminent arrival of our new trains providing additional capacity; Greater Anglia is developing a new timetable; Local Authorities have updated their local plans; and Local Enterprise Partnerships have published revised economic growth strategies. There has also been changes in the way rail investment is allocated by Government.

To determine how this delivers against the ambitions of the Taskforce, New Anglia LEP are undertaking a refresh of the evidence base to identify what the investment priorities are for the Great Eastern Mainline and when these need to be delivered to fully realise the full potential of our region.

This free to attend rail conference provides an ideal opportunity to bring you up to speed with this work and how you can help support their renewed case for investment.

With key speakers, including MPs, businesses and the franchise operator Greater Anglia – this really is an opportunity to help shape our future direction and ensure that our campaign continues to achieve the outcomes that passengers and our economy need and deserve.

Thank you for your continued support and encouragement as we work together to continue the transformation of our railway.

The conference will be held at:

Civic Centre, Duke Street, Chelmsford, CM1 1JE

Please RSVP by no later than Friday 21 June 2019 – Click here to book you free place.

More UK exporters are reporting a decrease in orders in the opening quarter of the year, with cashflow and confidence dipping too according to the latest Quarterly International Trade Outlook from the British Chambers of Commerce, in partnership with DHL.

The report based on the responses of over 3,400 exporters, including those from Norfolk shows that one in five manufacturers (23%) and service firms (20%) saw their export order books decline in the first three months of the year – the highest for both since Q2 2017 when records began. 

Two-thirds of exporting manufacturers said exchange rates were of greater concern to them than in the previous three months, reflecting sterling volatility ahead of the original Brexit deadline. Exporters continue to report considerable price pressures, which for manufacturers is mainly driven by the cost of raw materials.

According to the findings, exporters are reporting muted confidence in turnover in the coming year. Nearly a quarter of exporters reported a decrease in cashflow, a key indicator of the financial health of a business – also at its highest level since Q2 2017. 

The BCC/DHL Trade Confidence Index, which measures the volume of trade documents issued by Accredited Chambers of Commerce for goods shipments outside the EU stood at 124.04, representing a fall of 1% on the quarter and 2.3% lower than the same quarter in 2018. 

The results of the report paint a picture of tough trading conditions, and while the prospect of immediate changes to conditions due to Brexit have been postponed, fundamental questions about the future business environment remain unanswered. Clarity is also needed about the terms of trade exporters will face in many key markets around the world after the UK leaves the EU.

Nova Fairbank, Head of Policy for Norfolk Chambers of Commerce said:

“It’s been a trying time for many Norfolk exporters with uncertainty in the run up to the Brexit deadlines and continued trade tensions combining to flatten orders and confidence.

“The future relationship with Europe remains unresolved, but so too do the future terms of trade with many other important trading partners. Until the status of free trade agreements with third countries are clarified, Norfolk firms don’t know how their operations in all corners of the world will be affected when the UK leaves the EU in any transition period and beyond.

“Norfolk businesses are resilient, but they urgently need Parliament to overcome the current impasse and end the uncertainty. Leaving firms in limbo and allowing the political dramas to play out again at the last minute in October will only serve to diminish sales and confidence further.”

Shannon Diett, VP of Marketing at DHL Express, said:

“This quarter’s report shows a small decline in the Trade Confidence Index of 1.02% on the previous quarter and 2.03% on Q1 2018, alongside a decline in export orders, cash flow and a fall in confidence regarding future exports. This paints a fairly bleak picture when the results are taken in isolation, however we’re all aware that uncertainty surrounding the Brexit negotiations was at its peak in Q1 2019.

“These results highlight how critical it is for businesses trading internationally to have information and clarity in advance of the 31 October deadline.

“Every day we witness the drive and creativity of UK businesses who prevail whatever the circumstances, and more than this, seize every opportunity for growth and global expansion. Exporting internationally can be challenging, but the rewards are clear, with those businesses exporting to a high number of countries outperforming the market. The UK has so many strong and inspirational companies that are succeeding and we must ensure that their growth is supported.”

Key findings from the report:

• 23% of exporting manufacturers and 20% of exporting service firms saw a decrease in exports orders in the first three months of the year, up from 18% and 16% respectively in the previous quarter
• Nearly a quarter of exporters reported a decrease in cashflow, 24% in manufacturing and 23% in services say it had decreased in the previous three months
• Confidence in turnover also dipped, with 22% of exporting manufacturers expecting it to worsen in the coming year (up from 14% in the previous quarter) and 18% in services (up from 13%)
• Two-thirds of exporting manufacturers (66%) and nearly a half (47%) of exporting service firms are more concerned about exchange rates than in the previous quarter
• Half (49%) of exporting manufacturers expect to increase prices, unchanged from the previous quarter, and 42% of service firms (up from 39%). The cost of raw materials remains the primary cause of cost pressure (79%) for manufacturing firms
• The percentage of exporters attempting to recruit fell in both sectors, from 68% to 63% in manufacturing and from 57% to 51% in services. The percentage reporting recruitment difficulties remained very high: 79% in manufacturing and 72% in services
• The BCC/DHL Trade Confidence Index, a measure of the volume of trade documentation issued nationally, fell by 1.02% on the quarter and 2.03% compared to Q1 2018.

The annual Tech Nation Report has been the UK’s state of the nation on tech since 2015. Each year the report provides a comprehensive look into the evolution of the UK’s tech ecosystem, exploring the drivers that underpin and power economic growth within the sector.

Norwich and the East of England have contributed to the report since it’s beginning, helping to provide a report to Government ministers, policy makers and international business leaders.

The Tech Nation Report 2019 delivered some good news for the East of England and Tech East. For the first time since 2016, the East of England is grouped together. You will recall that when the Tech East manifesto was published in 2016 one of the 3 corporate goals was to be recognised as a top 5 UK Tech Cluster by 2020. Based on the stats from each regional page (on the assumption that these are accurate) we’ve beaten that target a year early!

Speaking on the 2019 report, UK Prime Minister, Rt Hon Theresa May MP, commented: “The UK is a global tech powerhouse. I am immensely proud of our country’s ambitious tech scaleups. These companies are delivering significant economic value to the nation through the investment they raise, the jobs they create and the innovative products and services they deliver.”

Key Stats from the 2019 report:

• 4th – The UK is fourth in the world for scaleup investment after US, China and India
• 2.5x – Scaleup tech investment 2.5x higher than expected based on the relative size of the UK economy
• £6.3bn – Total 2018 venture capital investment in UK tech topped £6bn, more than any other European country
• 5% – The UK remains hotbed for tech talent, employing 5% of all high-growth tech workers globally, placing the UK ahead of Japan, France and India
• 35% – To date, 35% of Europe and Israel’s tech unicorns ($1bn valued businesses) have been created in the UK
• 1st – The UK leads the rest of the world in fintech – investment in high-growth fintech firms achieves £4.5bn between 2015 and 2018

You can read the full Tech Nation Report 2019 here.

The British Chambers of Commerce Quarterly Economic Survey (QES) is the largest private sector survey of businesses in the UK, and it is a leading indicator of UK GDP growth.

Against a backdrop of a slowing global economy, escalating Brexit uncertainty, and rises in business costs as the UK enters a new tax year, the latest results from the survey of over 7,000 businesses, including those in Norfolk – all collectively employing around one million people – reflect a deterioration in many gauges of the UK’s economic strength.

Now in the second Quarter of 2019, with the outcome of Brexit still hanging in the balance – we need to understand how Norfolk businesses are reacting to the current economic climate.  Today (Monday 20 May 2019) is the first day of the fieldwork period for the Q2 Quarterly Economic Survey (QES).

The QES is the largest independent business survey in the UK and is used by both the Bank of England and the Chancellor of the Exchequer to plan the future of the UK economy.  It is also closely watched by the International Monetary Fund.  It is vital that as many Norfolk businesses as possible take part, so we get a true reflection of the local economy.

You can have your say by completing the QES online NOW.

It takes less than 3 minutes.  The completion deadline for this survey is midnight on Monday 10 June 2019.  The Q2 results will be published week commencing 01 July 2019.

Key findings from Q1 2019:

Norfolk Manufacturing sector:

• The balance of firms reporting increased domestic sales rose from 0 to +26, while those reporting improved domestic orders also rose from +0 to +41
• The balance of firms reporting improved export sales fell from +43 to +31, and the balance of firms reporting improved export orders rose very slightly from +43 to +46
• The balance of firms reporting improved cashflow remained weak, but rose from +21 to +26
• The percentage of firms attempting to recruit fell from 74% to 57%, the weakest since Q4 2012. Of those, 92% reported recruitment difficulties, close to its record high
• The balance of firms increasing investment in plant/machinery rose in the quarter from +16 to +18, while investment in training fell from +42 and +23
• The balance of firms confident that turnover and profitability will increase in the next 12 months was mixed – falling from +32 to +30 for turnover and rising from +11 to +23 for profitability

Norfolk Services sector:

• The balance of firms reporting increased domestic sales fell from +21 to +9, the weakest since Q3 2016. Those reporting improved domestic orders fell from +15 to -2
• The balance of firms reporting improved export sales, whilst still weak, reported an increase from -5 to +4 and export orders rose from -9 to +7
• The balance of firms reporting improved cashflow dropped in negative territory – falling from +8 to -10
• The percentage of firms looking to recruit fell to 53%. Of those, 79% had recruitment difficulties – a little higher than the previous quarter
• The balance of firms looking to increase investment in plant and machinery fell from +9 to +6 (weakest since Q4 2016), and from +20 to +16 in training
• The balance of firms confident that turnover will improve over the next year remained static, whilst those who thought profitability would improve dropped from +24 to +14

Norfolk Chambers of Commerce have partnered with regional accountancy and law firms Price Bailey LLP and Ashtons Legal to deliver a new member service, which will give Norfolk businesses an alternative cost-effective way of resolving business disputes.  This is being done through the multi-award winning Escalate dispute resolution service.

Many SMEs leave legal and financial disputes unresolved because they fear the potential cost involved without a guaranteed positive outcome.  Escalate can help remove these barriers.  The most tangible key benefit of the service is that it carries no financial risk to the client.   A business which pursues a dispute in this way will only pay a fee if a successful settlement is achieved.  This is great news for small and medium size companies, and will empower them to challenge, in particular, larger businesses in a way that they might otherwise not have done.

This service is being rolled out nationally, with East Anglia being one of the first regions to benefit. We are excited to be able to be able to be early adopters of the service and to introduce it to Chambers’ members as another key area of business support.  Price Bailey LLP and Ashtons Legal both have long-established reputations and credibility in this area so harnessing their expertise to help our members in this cost-effective way is a very positive move.

Matt Howard, Insolvency and Recovery Partner at Price Bailey LLP, instigated the partnership between all the parties and Escalate, said:

 “Resolving a commercial dispute has historically been time consuming, costly and risky for claimants, which is why many of them decide to reluctantly write-off what they’re owed.  Escalate has helped to put that right.  By removing financial risk, providing transparency on process and pricing, and ensuring that the claimant remains the main beneficiary on settlement, Escalate provides an opportunity to resolve disputes in a way that helps rather than hinders businesses cash flow.  Our partnership with the Norfolk Chambers of Commerce means we are able to give more SMEs in East Anglia access to justice and provide an innovative means of securing the resources they need to survive and grow.  Escalate has proven to make a real difference for our clients and has won a handful of national awards as a result.” 

Also commenting on the new partnership, Tom Bailey, Partner at Ashtons Legal said:

“Escalate’s mission is to help the SME community so that the £40 billion that’s written off each year as bad debt is reduced.  In our view, a bad debt is just a commercial dispute that didn’t get resolved.  Escalate is already helping SMEs to recover more than £50 million that is currently locked up in commercial disputes.  The combination of the Norfolk Chambers of Commerce, Price Bailey and Ashtons Legal is a game-changing proposition to help members in the region with their cashflow and avoid some of the inevitable bumps in the road that SME’s experience.”

To celebrate this new member service and to provide more information, a free launch seminar will be held on Thursday 20 June 2019 from 3.30pm – 5pm at the offices of Price Bailey LLP in Norwich.

To find out more and reserve your free place click here.

If you’d come to visit us at the Chamber last week you would have seen us peering out the window nervously at the weather, crossing everything that Friday would be fine. Luckily it got to Friday morning and there was beautiful sunshine encouraging all our delegates at the biker breakfast to come on their bikes.

Boudicca Hotel had very kindly given us the whole marquee area which meant that delegates arriving on their bikes, over 30 of whom did, could park them right outside and spend some of the morning admiring them. Everyone was in a great mood, something that was definitely helped by the presence of bacon sandwiches and pastries! We had three fantastic speakers covering how to keep yourself as a biker and your business safe and the various courses available.

Chris Spinks, CEO of Westcotec who partnered with us to deliver the morning, introduced our first speaker Iain Temperton. Iain highlighted to the group the importance of keeping your business safe when sending employees out on errands and how to make sure that if anything happens your business is protected. Bacon rolls were then brought round to every table with pastries which everyone thoroughly enjoyed. Next up was Andy Micklethwaite who outlined a number of course options available, such as Safe Rider, to delegates to improve their riding and by extension keep themselves safe. Finally we heard from Barry Clarke who highlighted the Biker Down course he runs and the different modules it covers, not just how to keep yourself as a rider safe but also what to do if you find someone who has had an accident.

Everyone had a great morning and a small group continued the fun with a ride out to Norfolk dealers Seastar Superbikes, Norfolk Triumph (Lings), Lind Motorrad, and CJ Ball. Seastar Superbikes had very kindly lent us two showpiece bikes that delegates could admire as they walked into the marquee and we even had a Zero Electric Bike on charge just inside. It was great to see so many different bikes of all shapes and sizes there and our very own Jordan even had her first go on the back of a bike, which she thoroughly enjoyed!

The feedback on the morning was fantastic and we’re hoping to run it as an annual event so will begin brainstorming ideas soon… watch this space!

The Chambers Quarterly Economic Survey (QES) is the largest independent business survey in the UK, receiving in excess of 7,000 responses from across the UK each quarter.  But why should your business take part in our QES?  Simply put, the larger the voice of Norfolk’s manufacturers and service sector firms, the louder our voice is heard at a national level.

The QES often shows changes in economic trends, well in advance of other surveys.  It is used by the Bank of England to set interest rates;  the Treasury and the Chancellor of the Exchequer when considering national economic decisions; and by the International Monetary Fund when comparing the UK economy to other global economies.

The survey takes less than 3 minutes to complete online, its multiple choice, so no long written answers and anonymous.  The next fieldwork period starts on Monday 20 May – save the date in your diary and watch your inbox, our website or our social media feeds for the QES survey link.

Norwich City Council have released their latest economic barometer. The report highlighted:

Locally

• Norwich is officially the UK’s first sharing city – encouraging people and businesses to help each other for the common good
• A new Offshore Wind Sector Deal has been announced for east Anglia, which would see investments of £250 million in this region
• Business hiring intentions in the East of England rose in February
• The number of active businesses across the East of England increased by over 9,000 in the year to January 2019

Nationally

• UK inflation fell to a two year low, dragged lower by falling energy bills and fuel
• Purchasing activity rose as manufacturers continued to implement plans to mitigate potential Brexit-related disruptions
• UK construction recorded dropping activity levels – ending a ten-month period of sustained expansion

For full details of the latest economic barometer click here.

Help us give a warm welcome to the newest members of Norfolk Chamber of Commerce for the month of April.

Visit their business to explore what they have to offer. Click on a business name below to view the full listing in our Member Directory.

US2U Consulting A forward-thinking Management Consultancy offering key solutions which make for better business practice and management in any organisation. Our successful growth has been built on the ability of our Consultants to achieve results, and the reputation this has created with our clients.

Maddermarket Theatre The Maddermarket Theatre opened its doors to the public for the first time in September 1921. Originally a Roman Catholic Chapel, the building was discovered, derelict and abandoned, by Nugent Monck whilst searching for a permanent home for The Guild of Norwich Players, a troupe he had founded in 1911. Almost one hundred years after our foundation the Maddermarket Theatre, the Norwich Players continue to produce a full programme of high quality and engaging theatre for audiences throughout the region.

Aviform With more than 40 years nutritional product expertise backing every single Aviform formulation. Based in Wymondham, South Norfolk, Aviform products are distributed to over 40 countries worldwide either direct from our website or through our export agents. Our ranges include a large selection of Animal & Avian supplements, and equine supplement range too which includes, premium equine joint care products such as, Suppleaze Gold.

East Lodge Consulting Ltd East Lodge Consulting provides business advice to organisations across multiple sectors.  Core services include Sales, Recruitment, Training and Staff development and access to funding.  East Lodge Consulting is part of a nationwide network that provides specialist advice across every business function, from Finance and Strategy to Compliance and IT.  Whatever your requirement, East Lodge Consulting can provide the solution.

Ellgia We specialise in waste management, processing and recycling for commercial, trade and homeowners. If you are looking to dispose of General Waste, Dry Mixed Recycling, Inks, Food, Glass and Plastics, Security Shredding, Hazardous Waste, WEEE Waste (Waste Electrical and Electronic Equipment recycling) or you just want a skip for site or for a clear out at home – then give us a call, use our online quote system, book your skip online or via email.

Curveball Media This is the story of how we came to be. It’s beautiful when two people meet who have the same vision. Daniel came from a background in TV and Olly worked his way up the corporate ladder, but what they both had in common was a joint loathing towards the plethora of videos popping up all other the web that simply didn’t ‘work’.

MJR Events MJR Events is owned and run by Mark Raines. Mark has over twenty years’ experience in organising events in and around Norfolk. Together with his wife Meryl, they deliver high profile, quality, established wedding fairs and events across East Anglia and pride themselves in maintaining a professional yet personal relationship with all of their clients.

Lucas & Wyllys Lucas & Wyllys is a busy legal practice established for over 150 years. Our offices are based in Norfolk and we mainly serve clients throughout East Anglia, however in most areas of law we can assist clients U.K. wide. We have a first-class reputation and we are very proud that more than 70% of the firm’s work comes from repeat business or by direct client recommendation.

TNE Group Working to understand your business needs. Almost all initial consultancy and requirement gathering exercises are free of charge at TNE Group. This is because we understand that in order to achieve the most effective results, your business has to free up staff and time from the early stages. Which ensures time is utilised to gather accurate resources for your project. So, whether you are looking to improve customer response through efficient delivery of information or provide a predictive stock fulfilment solution, experienced specialists at TNE Group can identify the right solution for your organisation.

Norfolk Clubhouse Clubhouse is part of a worldwide network of enterprises that exist to provide support and opportunities to people living with mental health conditions. Its purpose is to promote positive mental health for people aged 16 or over who live with severe, and often enduring, mental health problems. It aims to enable people to regain the confidence and skills necessary to lead productive and satisfying lives. In addition, the Clubhouse offers its members and visitors a wide range of volunteering opportunities, access to education & employment, crisis support, information and signposting to other local organisations.

Bespoke The talented team behind the delivery of every project are a group of skilled, motivated and dedicated professionals who are inspired by the shared vision of doing what we love and loving what we do every day. This vision, borne out of our passion for all things technology, drives us to be better each day. With a combined 18 years of valuable industry experience between us, we’re incredibly proud of the people who have helped make our business what it is today.

The East of England’s ‘All Energy Coast’ is unique in the UK – we are the only region to have oil and gas, nuclear, and renewable energy sectors all on our doorstep.  This offers a fantastic opportunity to businesses in Norfolk to see how they can get involved in the supply chains for all those energy sectors. 

A great place to find out more and to meet organisations already involved in our energy sector is SNS2019: The Southern North Sea Conference & Exhibition.  This is an annual event, delivered by Chambers member EEEGR, that will be taking place on 15 and 16 May at the Royal Norfolk Show Ground.  The exhibition area is free to attend.

For more information on how to book your tickets for the SNS2019 conference click here.

Norfolk Chambers recently announced their success One Hour Networking in King’s Lynn was moving from one hour on a Wednesday to Two Hours on a Tuesday.  We also announced that we would be available for businesses to drop in and talk to us and the ‘experts who would be joining us.

We are really pleased to announce that our key note speaker for our first Two Hour Tuesday free networking will be Glenn Savill, Relationship Manager at Aston Shaw. 

Glenn is the Making Tax Digital adviser for Aston Shaw and has recently held over half a dozen seminars on the topic throughout East Anglia, including King’s Lynn, so be sure to ask him any burning questions you may have to ensure your business is ready for the upcoming changes imposed by HMRC.

He has also agreed to be available for our drop-in session that follows, so if you want to know more about the Chambers and how we can help support your business, or if you have a financial question that you would like to put to Glenn, we would be delighted to see you.

West Norfolk ‘Experts’ – We Need You

If you’re an expert in your field, based in West Norfolk, and would prepared to volunteer some of your precious time to help support fellow local business-people, please get in touch. Our drop-in sessions are designed to add value and support the business community, so anyone who’s interested in passing on their expertise in a non-salesy way will be warmly welcomed. We’d love to hear from you! Drop a quick email to Nicole Risby on email: [email protected].

Sounds Amazing – When and Where?

All sessions will be held in the Council Chamber Room at the King’s Lynn Town Hall, Saturday Market Pl, Norfolk PE30 5DQ.  The next Two Hour Tuesday will be on the 14th May starting at 7.30am.

Dates for the rest of 2019:

• Tuesday 18th June
• Tuesday 23rd July
• Tuesday 20th August
• Tuesday 24th September
• Tuesday 8th October
• Tuesday 19th November
• Tuesday 3rd December

To get involved or find out more please contact Nicole Risby, Customer Experience Team, on 01603 729702 or by email: [email protected]

The Norwich Society celebrates Norwich’s unique character and beauty, helps preserve its heritage and contributes to shaping its future. We are seeking to develop closer links with businesses in Norwich in order to better inform our strategic thinking on the city’s future. Business and commerce has given the city its heritage and unique character – together we can work to leave a richer inheritance for future generations. We are seeking views on our Business Membership Scheme and how we can better engage with local businesses. Our questionnaire should only take a few minutes and we would really value your participation. https://forms.gle/asfXqU8DAjcCD73g6   For more information about our activities check out our website www.thenorwichsociety.org.uk