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Keystone Employer Feature – Saxon Air

Saxon Air – Trusted non-scheduled aviation leader.

Alex Durand Saxon Air’s Managing Director explains how the LSIP has benefitted them.

“We’ve been involved with the LSIP from the outset, contributing to early workshops and now chairing the Norfolk and Suffolk Green Skills Sector LSIP. We’ve also been involved with feedback meetings with Norfolk Chambers of Commerce and the Dept for Education. We’ve also taken learning and feedback from this to the Department for Transport Aviation Skills forums”.

“It’s the most important skills development work we’ve seen, for the first time taking a business led approach to determine the skills that need developing for the workplace.  It’s also helped shape a more collaborative approach between local authorities and businesses, which is needed to bridge the chasm that exists between skills the education system is(n’t) producing and those skills needed in the current and future workplace”.

“The LSIP adds value in terms of identifying the skills that need developing, but the process itself has the potential to be transformative. Businesses have had good reason to be frustrated with the lack of suitable vocational or work ready skills being produced by the education system , but it’s also highlighted areas where businesses aren’t getting involved or investing – apprenticeships, training budgets, engagement with schools/colleges/training providers. Where the LSIP process can work best is getting the full range of stakeholders to do more and in closer collaboration”.

Keystone Employer Feature – Cory Brothers Limited

Cory Brothers Limited has been a trusted supply chain partner for businesses for over 180 years providing freight forwarding, project logistics, customs clearance, liner, and warehousing.

Head of Strategic Development Mike Bowden explains why they are a Keystone Employer in Suffolk:  

What are the benefits of engaging with the Norfolk and Suffolk LSIP?

“At Cory we are committed to supporting young people who are considering a role in shipping. As a keystone employer and by engaging with the Norfolk and Suffolk LSIP at events and through one-to-one conversations, we are able to showcase what a rewarding career in shipping can be to the next generation of employees.”

What is the importance of the LSIP within the local skills Landscape?

”The most important thing is the ability to articulate the employer needs and creating a better alignment between the employer and educator. This will ensure that the workforce is better prepared for current and future job markets.” 

What is the value of supporting skills within your workplace? 

“One of the key values at Cory Brothers is developing our people. We believe in setting ambitious goals and constantly pushing our own limits, and encourage our team members to surpass themselves, explore new ideas, and innovate. Through this we create a positive and inspiring work environment where people can develop, collaborate, and enjoy what they do.”

Keystone Employer Feature – Flagship Group

Flagship Group – solving the housing crisis in the East of England.

Nadine Tapp Head of Group Academy tells us why the LSIP is important to them.

“As Chair of the Building Growth sector group, I’ve seen first-hand the difference a strong, responsive skills system can make. Working with the Local Skills Improvement Plan (LSIP) has given me clearer insight into the skills landscape – and a platform to voice the real challenges employers like Flagship face”.

“At Flagship, we’ve always taken a hands-on approach to training and growing new talent. But partnering with the LSIP has helped sharpen that focus. It’s allowed us to raise concerns, highlight gaps, and work closer with local providers. A great example is our collaboration with one of our local colleges – a relationship that grew through this work and helped us win the LSIP Sponsored Large Employer Award at the Norfolk Apprenticeships Awards.”

“I’m also proud to contribute as a Keystone Employer for the LSIP, where I can bring a housing and construction perspective to the table and help shape a skills agenda that’s built around the needs of our sector and our places”.

Keystone Employer Feature – PCE Automation

PCE Automation provide bespoke solutions to global manufacturing challenges, and a Suffolk Keystone employer for the Norfolk and Suffolk LSIP.

Managing Director Shaun Wigley explains more:  

What are the benefits of engaging with the Norfolk and Suffolk LSIP?

“PCE Automation actively contributes by participating in LSIP surveys and speaking at local events. This engagement has enabled us to share our experience collaborating with local colleges and apprenticeships, while gaining insight into how the LSIP is shaping the skills agenda for Suffolk”.

What is the importance of the LSIP within the local skills landscape?

“The LSIP plays a critical role by giving local businesses a voice to identify specific skills needs within our county and industry. This ensures that training programmes and qualifications are effectively tailored to meet the evolving requirements of the Suffolk economy”.

What is the value of supporting skills within your workplace?

“The future strength of our sector depends on developing talent internally. Through collaboration with educators, trainers, and businesses, the Norfolk and Suffolk LSIP helps maintain a steady pipeline of skilled individuals, safeguarding the sustainability and growth of our industry”.

Independent Training Provider Spotlight – SWARM

Swarm was established to improve the availability of apprenticeships for both learners and employers. The latest LSIP survey indicated that many businesses feel current apprenticeship programs do not meet their diverse needs, particularly for smaller companies where they require employees to perform multiple roles. In response, Swarm have developed over 30 professional business standards across various fields which allows them to tailor apprenticeships to address unique employer requirements. This includes soft skills training, all delivered online for improved accessibility, which is also available to the wider business community, not just apprentices. In the last Ofsted inspection, Swarm was rated as a GOOD provider with outstanding features, and boasts an excellent apprenticeship completion rate exceeding 70%, one of the highest in the industry! Read more including how they can help you with funding and eligibility challenges.

 

Please tell us a little bit about the work you’ve done with the findings of the LSIP

Swarm was set up with the fundamental aim in mind of making apprenticeships more readily available to learners and employers alike. The LSIP survey showed that businesses felt that apprenticeship programmes didn’t align with their specific business needs; a lot of small businesses need employees who wear multiple hats and the current apprenticeship standards model is more often than not, defined by one specific job role. We can’t change that but our solution is to offer over 30 + professional business standards – ranging from Marketing and Accounts all the way through to Engineering and Carpentry. Although many businesses have people who hold multiple job roles we can tailor the apprenticeship to cater as closely as possible to their unique needs. Our extensive enhanced curriculum allows us to add considerable value by responding to employer and learner needs, including those much needed soft skills, through a programme of additional CPD training offered throughout the year.

Training accessibility still remains an issue so the majority of our business apprenticeships are delivered via one to one or group webinars so anyone with an internet connection can access their learning. Our engineering centre is a ten minute walk from Norwich train station so our apprentices have multiple transport options to get to us and access the innovative Swarm Reagit centre.

We have recognised that there is a significant gap in funded training around ‘soft skills’ so for our apprenticeships we offer our comprehensive and responsive CPD programme but for the wider business community we have put together a low cost selection of accredited soft skills courses, which are delivered both remotely and physically, and can suit any budget.

We understand how confusing the funding and eligibility criteria can be, and how this can be a huge blocker for businesses wanting to train their teams so we ensure our Engagement team are fully up to date on the funding rules and can offer advice, guidance and signposting to businesses who need that help.

Business Growth Support has been a passion of Swarm since day one and we are currently putting a strong bid together to deliver several Enterprise skills bootcamps focussed on setting up, scaling and growing small to medium size businesses.

 

Please also provide a brief description from your Ofsted report

We were visited by Ofsted in February who came to do an audit of our provision and activities and confirmed that we are a GOOD provider. Amongst so many other things, we were proud to be able to present to them an extraordinary apprenticeship completion rate of over 70% which we know is well above the national average. The inspectors were impressed with all aspects of our provision awarding us outstanding for our leadership and management as well as outstanding for the behaviour and attitudes of our learners. One of the inspectors observed: “The stand out feature is the engagement with employers, that employers support the development of the curriculum, and that Swarm Training are meeting regional needs.”

Financial advice for you and your business | Royal Norfolk Show 2025

Financial advice for you and your business.

As proud Headline Sponsor of the Business Zone at this year’s Royal Norfolk Show, we are excited to be part of one of the region’s most anticipated events.

Our presence at the show reflects our commitment to championing Norfolk’s businesses and the future of succession planning. With a strong focus on intergenerational wealth, business continuity, and legacy, we’re here to connect with individuals, families, and business owners who are thinking ahead.

Our experts on the day can talk you through inheritance tax planning, strategies to minimise tax liabilities and ensure that more of your wealth is preserved for future generations.

For both you and your business

Our specialist Employee Benefit Consultants provide employee benefits advice, consultancy and support to clients of all types and sizes, whether they need assistance with workplace pensions, group risk or staff communications.

We are dedicated to servicing local businesses and our aim is to offer our clients unrivalled employee benefits expertise and unmatched levels of service.

How we can help

Whether you need holistic financial advice, understand the evolving landscape of inheritance tax, scaling up or looking to sell your business, our experienced professionals are here to guide you through every decision, we’d love to welcome you to our stand.

Book time with us at the Royal Norfolk Show: https://outlook.office.com/book/SuccessionWealthManagementRNS@successionwealth.co.uk/

 

Succession Wealth is a trading style of Succession Wealth Management Limited, which is authorised and regulated by the Financial Conduct Authority. Financial Services Register number 588378. For further details on authorisation and registration details, please refer to the Key Disclosures section.”

Apprenticeship Plans are ‘Mixed Bag’ for Business

The Government announced major reforms to apprenticeships in England today, prompting mixed reactions from business and skills leaders across Norfolk and Suffolk. The changes include a 13% increase in the national apprenticeship budget, the introduction of Foundation Apprenticeships in key sectors, and a shift in funding for higher-level qualifications. Regional stakeholders, including the Norfolk & Suffolk Local Skills Improvement Plan (LSIP), have welcomed aspects of the announcement but caution that more must be done to simplify the system and meet local workforce needs. 

Norfolk & Suffolk Local Skills Improvement Plan (LSIP) Skills Director, Dean Pierpoint said, Businesses will welcome the funding boost announced by Government.  Locally, we are bucking the national trend, with growth being seen across both Norfolk and Suffolk in apprenticeship starts.  In Q2 of this year, Norfolk saw a 3.72% increase and Suffolk a 1.75% increase, this is against the national figure of 0.98%.   

 It’s encouraging to see that our region’s business community is committed to using apprenticeships for upskilling new entrantsThe government’s announcement, that it will increase the budget for apprenticeships by 13%, presents more opportunity for businesses to engage further with the local skills system.   However, the work of the LSIP demonstrates that there is still much work to be done with businesses to unpick the skills system.   

 “We need to make the complexities of apprenticeships clearer for employers by de-mystifying the process, thus allowing business to make the most of this fundingFortunately, our region benefits from both Apprenticeship Norfolk and Suffolk Apprenticeships, which can support individuals and businesses to make the most of the latest changes.” 

 Alex Veitch, Director of Policy at the British Chambers of Commerce said, The BCC has long called for flexibility in the Growth and Skills Levy for employers to invest in pre-apprenticeship training to provide more pathways into technical and vocational careers.   

 “At a time when there are nearly 1 million NEET young people in the UK, employers will welcome the new Foundation Apprenticeships, with a financial incentive, in key skills shortage areas such as construction.  

 “However, defunding the majority of Level 7 apprenticeship opportunities is deeply disappointing. We recognise the funding challenges ministers are facing, but skills gaps at higher levels need to be addressed if the Government is to deliver its industrial strategy and growth missions.  

 “Employers stand ready to work with Skills England to make sure other types of training under the Growth and Skills Levy meet local needs.”  

 

 
 

About the Norfolk & Suffolk Local Skills Improvement Plan (LSIP) 

The Norfolk & Suffolk Local Skills Improvement Plan (LSIP) is designed to put employers at the heart of the skills agenda in this region.  

 Working in collaboration since September 2022, Norfolk and Suffolk Chambers of Commerce, in conjunction with the Department for Education (DfE), continue to highlight the fundamental skills requirements for key sectors across our region and have developed a roadmap for change to help address those skills shortages. 

The LSIP fosters stronger relationships with a range of stakeholders, including local authorities, colleges and independent training providers and has continued to ensure that the employer voice is clearly heard. 

Breaking Stereotypes | Why Construction is a Career for Everyone

At this year’s Festival of Knowledge, we had the pleasure of speaking with a representative from Lovells, a leading construction company passionate about inspiring the next generation of talent. Their message was clear — construction is not just about bricklaying; it’s a world full of diverse career opportunities that often go unrecognised.

“Construction is such an underrated industry,” they explained. “There’s a common misconception that it’s only for people who aren’t academic, but in reality, there’s a huge range of roles — from architects and designers to quantity surveyors, estimators, and even administrators — that keep the industry moving.”

The construction sector plays a critical role in building our communities, and yet there’s a noticeable skills gap. Lovells highlighted that for every tradesperson on-site, there are 10 to 15 people behind the scenes ensuring the project runs smoothly. This includes project managers, engineers, health and safety officers, and more — roles that require a broad range of skills and talents.

 

A Career for Life

One of the most inspiring takeaways from the conversation was the potential for career progression in construction. “There’s a real pathway for growth,” they shared. “You can start as a carpenter or bricklayer and end up as a site manager, construction manager, or even a regional managing director. I know people who started out on the tools and now earn six-figure salaries.”

It’s not just the career progression that makes construction a compelling industry; it’s also the variety of work and environments. “You’re outside, meeting new people, learning new skills, and constantly developing,” they added. “It’s a career where no two days are the same.”

 

Opportunities for Women in Construction

A key point raised was the increasing number of women in construction roles. Lovells is proud to have female bricklayers, site managers, and other professionals driving their projects forward. “One of our site cleaners is now a trainee site manager — it just shows how accessible career growth is in construction.”

The team emphasised that construction isn’t a ‘one-path’ career. People can start in one role and transition into another, carving out a career that suits their skills and interests.

 

A Focus on Mental Health

Another inspiring aspect of the conversation was Lovells’ commitment to mental health. Their team has expanded its number of Mental Health First Aiders and regularly runs mental health workshops to ensure their workforce feels supported.

“We’ve seen a shift in recent years. More people are opening up about their struggles, and it’s important they know there’s support on-site,” they explained. “It’s not just about building houses — it’s about building people up too.”

 

Why Events Like Festival of Knowledge Matter

Lovells’ team praised the Festival of Knowledge for giving them the chance to engage with young people directly. “Events like this are crucial,” they said. “It helps break down the stereotypes around construction and shows students that it’s a career full of opportunities — for everyone.”

As Lovells highlighted, the construction industry has space for every skill set, background, and ambition. Whether you’re hands-on, creative, analytical, or a people person — there’s a role waiting for you.

So, to all the young people who attended the Festival of Knowledge — the future is being built, and you could be a part of it.

Addressing Workforce Development Needs: Key Insights from the LSIP Survey Results Progress Report 

 

In the business world, continuous growth and adaptability are paramount to maintaining competitiveness, especially in a rapidly changing economic landscape. The recent LSIP Survey, focusing on workforce development and training across Norfolk and Suffolk, reveals critical insights into the challenges and opportunities faced by local businesses in these areas. The report sheds light on the current state of training, apprenticeship provisions, and the skills gap, with a particular focus on emerging sectors such as digital skills, soft skills, and green technologies. 

Key Trends from the Survey 

The LSIP Survey captured the perspectives of 182 business owners across various industries in Norfolk and Suffolk, offering valuable data about the needs and obstacles businesses are facing. Some key trends that emerged are: 

  1. Training Accessibility Issues: Many businesses are struggling to access the specialised training they need, particularly in niche sectors. A notable 31% of businesses reported that they were not accessing any form of training, often due to logistical barriers or lack of locally available resources. 

  1. The Need for Soft Skills: An emerging trend is the significant gap in soft skills—such as communication, teamwork, and problem-solving. Employers are increasingly highlighting the importance of these skills in ensuring a successful workforce. However, training in soft skills is not as readily available as technical training. 

  1. Challenges with Apprenticeships: 59% of respondents reported not accessing apprenticeship provision. Many small businesses cited the challenges of supporting an apprentice due to limited capacity, and some felt that apprenticeship programs did not align with their specific business needs. Furthermore, a mixed experience with government initiatives like “Road to Logistics” and “Kickstart” left many businesses hesitant to fully embrace apprenticeships without more tailored options. 

  1. Business Growth Support: Local businesses also voiced a strong need for more practical support when it comes to scaling their operations. From managing resources to accessing funding, many entrepreneurs noted that the current system is not designed with their growth challenges in mind, especially for small and medium-sized enterprises (SMEs). 

Insights from Business Conversations 

The report also includes qualitative insights from in-depth discussions with business owners, offering a deeper understanding of the challenges they face. 

  1. Agricultural Sector: Businesses in agriculture reported substantial pressure from budget cuts, which often result in training being one of the first areas to be reduced. Some companies in this sector are focusing on in-house training, but they also highlighted a need for more accessible funding to support external training initiatives. Additionally, there’s a call for basic skills, like communication and problem-solving, to be taught at a school level, ensuring a workforce equipped to handle sector-specific demands. 

  1. Niche Training Needs: Several industries reported challenges in accessing training for specialised roles. For example, businesses in sectors like floristry, broadcasting, and refrigeration are forced to conduct training in-house or send employees to locations far outside Norfolk and Suffolk due to the absence of local options. This highlights a significant gap in the availability of specialised training within these regions. 

  1. Barriers to Apprenticeships: While some businesses were open to the idea of apprenticeships, many expressed concerns about the capacity required to support apprentices. Small companies, in particular, found it difficult to balance apprenticeship programs with their regular operations. Furthermore, the mismatch between the apprenticeships on offer and the specific needs of businesses has made these programs less attractive for some. 

  1. Grant Funding Challenges: A recurring theme in the survey was the difficulty businesses face when trying to access grants. The application process is often described as complex and time-consuming, making it an impractical solution for time-strapped businesses, particularly SMEs. 

Key Findings and Recommendations 

Based on the survey results, the following key findings and recommendations emerged: 

  • Niche Training Accessibility: There is a clear need for more specialised training options to be available locally, particularly in sectors like agriculture, floristry, and refrigeration. Businesses are often forced to send staff to distant locations, incurring additional costs and time delays. This could be addressed by expanding training providers or creating more localised training hubs. 

  • Apprenticeships Need Tailoring: Apprenticeship programs need to be more closely aligned with the specific needs of businesses. Current models, which are often one-size-fits-all, may not work for many smaller businesses. Providing more flexible apprenticeship options or sharing apprentices between businesses could be a solution. 

  • Increase Support for Small Businesses: Small businesses are looking for more practical support to scale their operations. This includes access to easier-to-navigate funding opportunities, tailored apprenticeships, and support in finding and retaining talent. 

  • Enhance Soft Skills Training: Given the growing emphasis on soft skills, businesses must have access to relevant training that helps develop these essential attributes in their workforce. Collaboration between businesses, educational institutions, and training providers could be key to meeting this demand. 

  • Simplify Grant Application Processes: The complexity of grant applications is deterring businesses from applying for essential funding. Streamlining the process and offering more direct assistance, particularly for SMEs, could ease this burden and encourage more businesses to pursue available opportunities. 

The LSIP Survey underscores the ongoing challenges faced by businesses in Norfolk and Suffolk regarding workforce development, with a clear need for more accessible and tailored training solutions. As businesses navigate through skills gaps, apprenticeship concerns, and a lack of local specialised training options, there is a clear opportunity for regional policy-makers and educational bodies to step in and offer the support necessary for business growth. 

A focus on creating a more flexible and business-specific training ecosystem—along with simplifying access to funding and apprenticeship programs—will ensure that local businesses are equipped to meet current and future workforce demands. The success of these efforts will not only benefit the businesses themselves but will contribute to the overall economic growth of Norfolk and Suffolk, empowering the next generation of talent across various industries. 

By fostering a closer connection between businesses and training providers, the region can address the skills gaps and help businesses thrive in an ever-evolving market landscape. 

Quarterly Economic Survey Findings As Businesses Prepare for Tax Rise  

Business sentiment in Norfolk has fallen sharply as new data from the British Chambers of Commerce Quarterly Economic Survey (QES) for Q1 2025 reveals mounting concern over rising tax burdens and slowing growth.

The findings, based on responses from more than 5,000 UK firms, including organisations in Norfolk, highlight the impact of the recently introduced national insurance hike and continued cost pressures, prompting warnings about reduced investment, subdued confidence, and widespread price increases.

66% of Norfolk businesses say tax, including national insurance, is now a concern, the second highest level on record following a peak in the previous quarter 

– Business confidence remains subdued, with less than half of UK firms (48%) expecting turnover to increase in the next 12 months 

– A third (34%) of businesses have cut back on investment in the past three months, while only 20% have increased investment 

– 74% of Norfolk firms are expecting to put up their prices over the next three months, with labour costs continuing to be the main driver.

 The British Chambers of Commerce Quarterly Economic Survey (QES) for Q1 shows that business sentiment remains very weak as taxation continues to be the top concern. 

 66% of Norfolk’s surveyed firms cite it as a worry (compared with 63% in Q4 2024), the second highest level on record.  

Business confidence remains low, with only 23% of Norfolk businesses expecting turnover to increase over the next 12 months, way below the national figure of 48% (a figure itself down from 49% in Q4). In comparison, pre-Budget confidence was 30% for Norfolk businesses in Q2 2024 and 36% in Q3 2024. Nationally, confidence levels are lowest in the retail industry (38%) and the transport and logistics sector (40%). 

The survey was carried out before the recent Spending Review, with the fieldwork conducted between 10 February and 10 March. The data from over 5,000 businesses across the UK (including those in Norfolk, of whom 88% are SMEs) also shows that most firms are expecting to raise prices. 

Tax remains the top concern, with inflation still a worry 

With the national insurance rise now in effect, concern about taxation remains the main concern for businesses – cited by 66% of responding firms in Norfolk. Yet this is down slightly from 75% in Q4 2024. This is the second highest level of tax concern since 2017, when the BCC started asking this question. The levels in certain sectors around the country are higher, with 68% of transport and logistics firms and 64% of production and manufacturing businesses raising tax as a concern. 

Concern about inflation has reduced slightly since the previous quarter – 46% compared to 49% in Q4. Concern about inflation is most prevalent in the construction industry, with 57% of firms identifying it as a concern. Worry about interest rates has dropped slightly to 23%, compared to 25% in Q4.    

Business confidence remains subdued following Budget measures 

Business confidence in Norfolk has fallen further since the immediate aftermath of the Budget, with 44% of our county’s firms say they expect their turnover to increase in the next twelve months. Across the UK, the figure is 48%, which is the lowest since the aftermath of the mini-budget in late 2022. A fifth (21%) of UK businesses expect turnover to worsen (the same as Q4), and 31% expect no change.   

Profitability confidence for our local businesses also continues to be hit. 36% of firms expect profits to increase over the next year (virtually unchanged from 35% in Q4), while the same number of businesses expect them to fall has gone up (36% in Q1 vs 32% in Q4). 

Most businesses are planning to raise prices 

Nearly three quarters (74%) of Norfolk’s responding firms say they expect to raise their prices in the next three months, a big increase on the 44% Q4. While 55% of businesses expect prices to stay the same, and only 1% expect them to decrease.   

Labour continues to be far and away the main cost pressure for firms across the county, cited by 85% of businesses (83% in Q4). Looking nationally, the issue is most significant for the production and manufacturing sector, with 82% reporting it as a challenge, followed by 81% of firms in the transport and logistics sector alongside hospitality businesses. All of which are major employers in Norfolk.   

More firms have cut back on investment plans 

As local businesses navigate rising cost pressures, 34% of responding firms say they have cut back on investment plans in the past three months, up from 28% in Q4. A mere 12% of businesses say they have increased investment plans, a big fall from the 25% in Q4. 

The issue is more marked in certain sectors around the UK, with 40% of hospitality firms and 35% of retailers reporting a scaling back of investment plans.   

Business conditions struggle 

The percentage of respondents reporting increased domestic sales has actually increased slightly to 27% compared to 22% in Q4, bucking a national downward trend. 44% reported no change and just under one third (29%) of firms said they had seen a decrease in sales. Nationwide retailers were the most likely to have seen a fall in sales (37%) followed by manufacturers and hospitality firms (35%).   

A third of businesses (43%) report a fall in cash flow over the last three months, up from 34% in Q4. Meanwhile, an unprecedented low of 13% of firms have seen an increase, while for 44%, cashflow has remained the same. 

What Norfolk businesses say: 

Medium-sized consultancy business “Rise in National Insurance will be a significant hit.” 

Medium-sized accountancy business “Tax changes are severely damaging profitability, and this will feed through to salaries and pricing.” 

Micro retail business “Tax burden is even more evident this, and I fear for the future.” 

Large tourism business “We have chosen as a business to retain our headline pricing, but have increased some costs due to investment and staffing costs. We have reduced costs and delayed some recruitment. 

Medium-sized manufacturer “Noticeable drop-off in domestic business since last Autumn, and competition is dropping prices significantly to gain work and keep ticking over.” 

Small environmental consultancy We operate in the sustainability market, and the current Net Zero fatigue and geopolitical rhetoric is a concern.” 

Jack Weaver, Chief Operating Officer at Norfolk Chambers of Commerce, said: 

“It’s obvious that business sentiment has been at a low ebb following the Autumn Budget last year, and this new dataset shows no improvement to that. By several of the metrics, we have seen a further worsening across the country. For many Norfolk businesses, the Spring Statement was a further blow.

“This is to be expected as costs have piled on businesses simultaneously. On the domestic side, tax rises, specifically the NICs increase, are consistently cited by businesses as a concern. Added to this, an emerging global tariff war could prove a major blow for both importers and exporters. 

“The end result is a low growth outlook, weak investment among SMEs, and damage to global trade. As we see from the data, as more firms expect price rises, this could further fuel inflation and limit further interest rate cuts.” 

Shevaun Haviland, Director General of the British Chambers of Commerce, said: 

“The national insurance rise has been an impending concern for months. From this weekend, it will become a toxic reality for millions of businesses across the UK.   

“Our survey shows tax continues to remain the top concern, with firms telling us they are planning to cut investment and raise prices, just to balance the books.In the past 24 hours, exporting firms have been dealt a further hammer blow by US tariffs. The cost pressures for business at home and abroad are now huge.  

“Sustained economic growth will only come through businesses, not government. While there were some limited announcements in the Spring Statement, which we welcome, it is hard to get away from the bleak growth predictions.   

“We urgently need the government to publish a wider tax roadmap, which includes national insurance, to give firms a direction of travel to lower cost pressures. Ministers must also focus on infrastructure projects and promoting exports as a springboard for business growth.   

“The Employment Rights Bill also threatens to fuel further costs and complexity on businesses at a very delicate time. While Government has listened and made some sensible changes, the legislation as it stands risks unintended consequences which will limit economic growth.   

“The Government needs businesses to invest and grow to kickstart the economy. But unless swift action is taken to ease cost pressures and support firms, growth will remain elusive.” 

 

Notes to editor

The QES survey was conducted by the British Chambers of Commerce to nearly 5,000 respondents between 10thFebruary to 10th March.

Press contact: adam.cracknell@norfolkchambers.co.uk

 

About the Norfolk Chambers of Commerce

The Norfolk Chambers is a not-for-profit independent business and is one of 53 accredited Chambers by the British Chambers of Commerce.

We are a business membership organisation, from start-up businesses, small and medium enterprises, and on to global brands, the Norfolk Chambers of Commerce embraces and represents the County’s business community. 

We provide networking opportunities, share knowledge, offer business services, signpost to business opportunities and inspire innovative thinking to enable companies to do better business. Our voice is your voice, amplified through established connections, to ensure that politicians both local and in Westminster are focussed on creating and enhancing the conditions that are most conducive for economic growth in our region. The Chamber’s long track record of 126 years and our diverse membership, make us the pre-eminent network and one of the most respected voices of business in Norfolk.

US Tariffs To Hit UK Economy

Reacting to news of a 10% tariff on all UK exports to the US and higher tariffs for other countries, Shevaun Haviland, Director General of the British Chambers of Commerce, said:

“The Government has kept a cool head so far and must continue to negotiate. This is a marathon not a sprint, and getting the best deal for the UK is what matters most.

 “But no-one will escape the fallout from these decisions, there will be an increased risk of trade diversion, and it will wreak havoc on businesses communities across the world.

 “Orders will drop, prices will rise, and global economic demand will be weaker as a result. This is a lose-lose situation for everyone.

 “So, it is vitally important that the government does not give up on negotiations. Tariffs can be lifted at any time and the US has signalled its willingness to do some form of deal with us.

“The UK is not without influence, our bilateral trade with the US is worth £300bn, we have £500bn invested there and it has £700bn tied up in our economy. There is a high-level of co-dependency and we are speaking to businesses across the UK on options for government to consider. 

 “There are no winners in the current scenario, negotiations will take time and will inevitably involve compromise. Any decisions on taxes will need to be taken very carefully, and the government must consider all its fiscal options.

“It should keep everything on the table during talks, but retaliatory tariffs should only be a last resort.

 “Many firms, especially SMEs, will now be facing difficult decisions and we urge government to do all it can to provide practical support to them.

 “We would advise businesses to immediately start negotiations with their US customers on managing the impact of these tariffs – depending on their contracts, there may be deals to be done. In the long-term exploring replacement markets, especially the EU, CPTPP countries or other trade deals, due to be made later this year, will be options.

 “Support may also be available from the British Business Bank’s Growth Guarantee scheme which can offer financial support to firms with cashflow issues.”

Norfolk Chambers are actively engaging with businesses across the region and working closely with the British Chambers of Commerce to assess the impact of these tariffs. We understand the challenges this presents, particularly for Norfolk’s key export sectors, and we are committed to supporting local businesses through this period of uncertainty.

We will continue to provide guidance, advocate for our members, and explore all available options to mitigate the effects. If your business is affected, we encourage you to get in touch with us to share your concerns and access the latest advice and support.

Norfolk Chambers response to the Spring Statement

The Chancellor’s Spring Statement included measures aimed at addressing skills shortages, reforming planning, and simplifying procurement processes. While some businesses may benefit from these changes, challenges remain, particularly with rising costs and a downgraded economic growth forecast.

Jack Weaver, Chief Operating Officer, Norfolk Chambers, said:

“It is disappointing that the Chancellor didn’t take this opportunity to offer an olive branch to the business community, especially after October’s budget that felt like a raid on the very people on whom so much of the government’s growth aspirations depend.

“The improving picture on inflation is welcome, so too is the confirmed investment in addressing skills and training needs, which our members consistently tell us is a major barrier to growth. Likewise, the work underway to reform planning and unlock development is a positive step, even though the economic and business growth benefits of those measures will take time to come through.

“Investment in defence and the simplification of procurement processes could benefit some in the relevant supply chains, but with the OBR halving the growth forecast from 2% to 1%, this will come as little comfort to Norfolk businesses.

“As we look to next week when businesses face a hike in NI contributions and an increase in minimum wage, this Spring Statement will have minimal positive impact on how businesses feel right now.

“Looking ahead, we need action from the government to reset the UK/EU trade relationship, minimise the costs and complexity for businesses from the Employment Rights legislation and give more certainty about when we can expect the tax burden on business to ease.

“Norfolk businesses will, as ever, rise to the challenge and continue to be the backbone of our local economy. But we need this government to meet them halfway and create the right conditions for them to grow.”