In spite of the volatility caused by the international financial crisis, developing nations remained the key drivers of growth in international trade for 2011, according to the International Chamber of Commerce (ICC).
South Asia exports, driven by soaring Indian trade with China, outperformed other developing regions in the first three quarters of 2011, but subsequently plummeted.
This year’s ICC Global Survey on Trade Finance, Rethinking Trade and Finance, notes that, after a year of upheavals, annual trade volume growth for 2011 was 6.6%, slightly above forecasts by the World Trade Organization.
However, after positive growth prospects at the beginning of the year, a series of global shocks, including the Arab Spring, the tsunami in Japan and the continuation of the global debt crises, resulted in an uneven performance for the year.
The ICC survey, which provides some of the most important international data on trade finance, suggests that the current environment is dampening prospects for 2012, with annual trade growth forecast at 5.2% this year, increasing to 7.2% in 2013.
The report – in which representatives of 229 banks in 100 countries took part – reveals that China’s trade experienced particularly volatile growth throughout the year, and exports from East Asia have fallen.
Many major developing countries in the region are experiencing a slowdown in growth due to a tightening of domestic policy initiatives introduced between late 2010 and early 2011 to combat high inflation.
The eurozone meanwhile was strongly affected by the financial and economic crises and, down 5.85%, had the highest annual decrease in export traffic.
With the new President at odds with the military council and parliament being suspended by the country’s Supreme Constitutional Court, outside observers could be forgiven for thinking that trade is low on Egypt’s list of current concerns.
However, the country clearly cannot afford its political upheavals to stand in the way of moves to facilitate and secure its international trade, and plans have been announced for Egypt to join the TIR Convention “in the very near future”.
The International Road Transport Union (IRU) has reported that major public and private stakeholders have met recently to discuss a concrete action plan aimed at speeding up the efforts needed to join the Convention.
The meeting was attended by the country’s Customs Commissioner as well as representatives from the import and export control authority and from the transport industry.
They unanimously agreed on the vital need for Egypt to join, as soon as possible, the major UN trade and road transport facilitation and security instruments, including the Harmonisation and TIR Conventions, to further develop the country’s international trade and to enable it to become a logistic hub for the region.
Adhesion to the TIR Convention would be particularly timely for Egypt, the IRU has pointed out, given the recent launch of regular ferry lines allowing RO-RO (roll-on, roll-off) transports from Turkey to Egyptian ports.
TIR stands for Transports Internationaux Routiers (International Road Transport) and is an international harmonised system of Customs control intended to facilitate trade and transport whilst effectively protecting the revenue of each country through which goods are carried.
Freebridge Community Housing announced as one of the countries best places to work
Freebridge Community Housing are delighted to announce that they once again appear on the Sunday Times Top 100 Best Not-For-Profit Organisations to Work For list.
Not only did Freebridge reach 68th place in the list, they also retained their One Star accreditation, which they first received back in 2014. The accreditation means that Freebridge continues to have ‘very good’ levels of employee engagement within the organisation.
Tony Hall, Chief Executive of Freebridge, said: “I could not be happier to have Freebridge recognised in this way. Appearing on the list is largely down to the efforts that our employees make in creating a great working environment and I want to thank them for their continued support.
“I am also looking forward to reading the feedback on our entry and identifying further ways to make Freebridge a great place to come to work.”
The Best Companies employee engagement survey captures how people genuinely feel about working for their organisations.
Best Companies methodology shows that the following eight factors are linked to overall engagement. They are: Leadership, My Team, Wellbeing, Personal Growth, Giving Something Back and My Manager. As well as completing the employee engagement surveys, Freebridge also completed an extensive questionnaire which provides an overview of the organisation.
Last week saw business policy developments in both the House of Commons and the House of Lords. On Tuesday a package ofmeasuresto help cut unnecessary red tape were announced as new amendments to theEnterprise and Regulatory Reform Bill. The amendments include removing automatic liability on business for civil damages in health and safety cases when they are not found negligent, and the removal of the provisions in the Equality Act 2010 which make employers liable for harassment of its employees by third parties, such as customers or clients, over whom the employer does not have direct control.
In the House of Lords, the beginning of the week saw a series of debates take place on trade, investment and start-up businesses in the UK. The Chamber Network’s important role helping businesses to export was cited during these debates by both Lord Cope of Berkeley and Lord Haskel.
This week will see the report stage of the Enterprise and Regulatory Reform Bill as well as the committee stage of theInfrastructure (Financial Assistance) Bill. The Chamber network will, as ever, be lobbying in the coming weeks to ensure that these Bills help to provide businesses with the support that they need to grow.
The deadline for agreeing a new EU budget for the next seven years is fast approaching; and if anyone harboured any hopes that this budget would be reoriented towards growth, they will be sorely disappointed. Farm ministers of France and Germany argued that CAP spending between 2014 and 2020 should be frozen, and not cut as some countries had demanded. If this position is maintained there will be no headroom in the budget for the EU’s policy priorities to be matched with more EU spending. France and Germany are arguing that the CAP can be a catalyst for growth, employment, innovation – rather than allowing opponents to portray the CAP simply as a social security scheme for farmers. The UK Government will undoubtedly regret this development but may not choose to fight it as it will need to use its political capital to defend its budget rebate.
The Commission consults on VAT
Last week the Commission launched a consultation on reduced VAT rates, as part of a wider exercise to reform the EU VAT system in order to make it simpler, more efficient and more robust. The consultation focuses on 3 specific areas where reduced VAT rates need to be reviewed: the impact of reduced rates on competition within the Single Market; the choice of goods and services which can benefit from a reduced rate; and the impact of technological developments on the VAT treatment of similar goods and services (which was agreed by Member States many years ago, and EU policy has developed and evolved since). Therefore, respondents are asked whether certain reduced VAT rates now contradict EU policy objectives. Here, answers should be concentrated on the reduced rates for water, energy, waste management and housing.
The Quarter 3 Quarterly Economic Survey (QES) reported that despite a backdrop of national results showing weak economic growth and poor business confidence, some areas of business in Norfolk were doing better than their national counterparts. Both the Norfolk manufacturing and service sectors showed positive results around their future export orders, as well as their domestic orders.
Norfolk Chamber members are now starting to report a slight upward trend in comparison to previous months. Is your business following suit or are trading conditions still proving to be a challenge?
The British Chambers of Commerce QES is used by both the Bank of England and the Chancellor of the Exchequer to plan the future of the UK economy. The survey takes less than 3 minutes to complete online, so please take the time to input into this important survey to ensure Norfolk businesses have a voice and are heard at a national level. The survey needs to be completed by Monday 3 December 2012. Click here to complete the survey.
New businesses need all the help they can get when it comes to establishing themselves and in Norfolk there’s plenty of support available, ranging from support with marketing and social media, specialist advice to networking opportunities.
One of the organisations offering such help is Norfolk Chamber of Commerce, which sees membership as a good way for new businesses to get themselves noticed. Norfolk Chamber of Commerce is a business membership organisation supporting members of all sizes and from all sectors; from start-ups to large corporate members such as Aviva and Bernard Matthews. As a member you can raise your profile using our free PR system incorporating: access to our website; social media exposure; and our bi-monthly magazine, Norfolk Voice. Reach new customers through networking at Chamber events and access free business services such as HR and legal help lines.
Caroline Williams CEO Norfolk Chamber of Commerce said: “We can help new businesses grow, save money, raise their profile and build their contacts throughout Norfolk.
“We are able to make the wider business network accessible to new enterprises by giving them a cost-effective chance to tap into our network, our marketing reach and really get their business seen.
“We can help new businesses grow, save money, raise their profile and build their contacts throughout Norfolk”
“The USP of the Chamber is that we have a 800 business membership with medium-to-large corporate businesses active within the network, thus giving the new enterprises an opportunity to meet and engage with influential business leaders from all sectors. The 40 new start up businesses who have joined us since April are already reaping the benefits
“Never has there been a more important time to look at a increasing brand awareness within the business community and using the Chamber network to communicate brand awareness is an extremely cost-effective way of marketing.
“As part of Enterprise Week we are launching a start-up part to our website www.norfolkchamber.co.uk/start-up dedicated to help new businesses to find their way around the support on offer. If you are a new business under 12 months old they have a special rate of £8.25+vat per month.”
The latest figures show that the number of private sector businesses in the UK increased significantly to 4.8 million at the start of 2012 – a record high.
This is an increase on last year’s figures, which showed there were 4.5 million businesses in the UK at the start of 2011.
The statistics, published by the Department for Business, Innovation and Skills, also show:
•The 4.8 million private sector businesses employed an estimated 23.9 million people and had an estimated turnover of £3,100 billion •Of the 4.8 million private sector businesses, 99.9 per cent of them were small and medium sized enterprises. •SMEs also account for 59.2 per cent of private sector employment and 48.8 per cent of private sector turnover.
Leading regional accountancy firm Larking Gowen bid farewell to tax advisory specialist Partner, Richard Proctor, who’s set to retire at the end of March. This comes alongside news of two new Partners, Martin Bugg who’ll lead the digital focus for the Business sector and Laurie Hill who’ll join the partner team advising the Farms and Landed Estates sector.
Martin has been a key member of the firm’s Business team for nearly twenty years and is well known for his digital and cloud accounting expertise.
Commenting on the appointment, Martin said: “I’m delighted to have been appointed as Partner at Larking Gowen. I joined the firm at the outset of my career, and it’s great to be able to realise my long-held ambition. I’m excited to be part of the leadership team driving the business forward, providing an efficient and proactive service to clients.”
“It’s an exciting time in our profession, as we adjust to new ways of working,” said Martin. “My message to the teams and our clients is that technology buys you time. We should aim to work smarter not harder, using the technology and embracing change. We understand the products well, we can demonstrate the value to our clients, and use the live data to help them grow their business and achieve their goals.”
Laurie Hill joined the firm in 2019. With continued involvement in the family farm, based at Bradenham, in Norfolk, Laurie has the advantage of seeing his role from the client’s point of view.
“Because I’m a farmer outside the normal day job as an accountant and business advisor, I have a view from both sides of the fence,” he explained. “I approach my work in the way that I’d like to be dealt with as a client. Good communication, trust and honesty are the most important things. I was always planning to specialise in agriculture, as I wanted to use my background and experience of working in that sector. You get to know your clients well, and become a trusted advisor in a family business, it’s a very privileged position,” Laurie said.
Managing Partner, Julie Grimmer, added, “The Partners at Larking Gowen congratulate both Laurie and Martin on their promotions and wish Richard a fond farewell, with our thanks for his contribution to the firm. Laurie’s commitment to our client service values and to the development of people and new relationships is important to the growth and success of the firm. Martin’s knowledge of digital solutions and the benefits for our clients is invaluable, and makes sure our proactive approach continues.”
Richard Proctor, joined the firm over eight years ago to head up the delivery of tax advisory services, having qualified as a chartered accountant in 1985. Richard said he’d enjoyed his years at Larking Gowen, both for the positive working culture and the professionalism of the firm. “When I arrived, I found a very professional but friendly working environment. Although I was a relative outsider, I was immediately welcomed into the ‘family’. From day one I felt my personal values were closely aligned with those of the firm,” he said.
Julie Grimmer commented “We all send Richard our very best wishes on his retirement. Richard is hugely respected throughout East Anglia. He’s helped build a strong tax practice which he leaves in the very capable hands of Tax advisory Partner Dominic Carter, alongside VAT Director Gillian McGill, our clients can be assured it will be business as usual”.
On Thursday 5 July we were joined by Liftshare at our Norwich Business Breakfast at Sprowston Manor Hotel. Over 70 businesses joined us for the morning which including networking, a fun ice breaker activity, breakfast and of course our guest speaker.
Laura Watling is the Marketing and Membership Manager at Liftshare, which has been open for business for 20 years now. Laura told delegates how Liftshare Founder and CEO Ali Clabburn came up with the idea of Liftshare when he pinned a post-it note to a notice board asking if someone was able to give him a lift. After multiple responses to this, the idea for Liftshare was born and 20 years on they are campaigning and encouraging Norwich to become a global leader in Sharing City.
Laura said that by embracing Sharing City it will ‘put Norwich on the map’ as a global leader in the scheme. She encouraged attendees to get involved by using a scheme such as Liftshare, carpooling, using bike schemes, sharing lunches, or sharing skills, and then promoting all of this.
Why should businesses get involved? Well, Laura kindly answered that for us. By doing things such as carpooling, using sharing bikes such as Ofo, and more, it makes our daily lives more efficient and convenient. Norwich is the 5th fastest growing city in the UK meaning becoming a Sharing City would help greatly with sustainability in our area. It also aids economic growth and again, that global recognition. It also enables people of all age’s access to all of their needs; particularly when it comes to the elderly, and those that haven’t grown up with the digital skills we need to manage daily. Apps like Grabbit where you can put a call out for people to pick you things up from the shops, or ask others if they need anything, completely change the way we do things in our everyday lives.
Since Liftshare began, they have saved 500 million miles, £58 million, 116, 000 tonnes of C02 with Over 600,000 members and over 700 clients. This is proof of the ways becoming a sharing city could hugely benefit Norwich as a city, as well and those who live there.
After Laura’s insightful talk, the event ended with more networking and a great positivity towards Norwich becoming a Sharing City.
Norwich City Council has produced a draft Statement of community involvement and they are asking for your views on this Statement.
The Statement of community involvement (SCI) is the Norwich City Council’s code of practice on how people can expect to be involved in the planning process. It covers the production of different types of planning policy documents, and the different stages for each one. It is also concerned with how people should expect to be involved in the planning application process.
Norwich City Council’s current SCI was adopted in March 2010, however there have been significant changes to the overall planning system and the new SCI reflects the most up-to-date legislation and regulation changes. The new SCI also proposes a more streamlined approach to consultation and greater flexibility in terms of dealing with future legislation changes.
This is your opportunity to have your say. The draft document is available to view at the Planning Reception on the 2nd floor of City Hall and also in the Millennium Library at the Forum. You can also provide your feedback by completing the response form and emailing it to LDF@norwich.gov.uk.
The consultation period will end at 5pm on 19 February 2013 and all responses must be received before this time.
Commenting on the announcement by the Deputy Prime Minister of successful bidders in the latest round of the Regional Growth Fund (RGF), John Longworth, Director General of the British Chambers of Commerce (BCC), said:
“We are pleased that the £1bn promised for the third round of the Regional Growth Fund has been allocated to projects that will spur business investment and job creation in the regions. However, pace is critical. Many RGF projects have been delayed by bureaucratic hurdles, meaning that they have not yet started to have an impact on the ground. Some bidders have even withdrawn, meaning that over £100m has been recycled back into the fund.
“Ministers should take a bold step and use RGF funding to introduce a Growth Voucher scheme, which would get support to the businesses quickly. The £100m scheme could give 20,000 businesses with clear growth plans up to £5,000 each to get help with the planning system, advice on accessing finance, or growing their staff. Growth Vouchers would have an immediate impact and would complement the RGF schemes being taken forward by bigger companies.
“The government should also consider a second voucher scheme that would provide support for companies that need help with exporting. Together with Growth Vouchers, Export Vouchers would build confidence and help kick-start the rebalancing of the UK economy.”