Chamber News

Commenting following Prime Minister Theresa May’s meeting with European Commission President Jean-Claude Juncker, and wider developments in the Brexit negotiations, Dr Adam Marshall, Director General of the British Chambers of Commerce, said:

“Business communities on both sides of the Channel have long been urging negotiators to reach a pragmatic agreement on withdrawal issues, so that we can move on swiftly to transition and trade talks.

“Yesterday’s statements enhance the prospects of finally securing a much-needed transition deal and moving on to the issues that are most important to business, investment and economic well-being on all sides.

“It is imperative to keep up the momentum, as it’s high time to answer the huge practical questions on regulation, customs, standards, tariffs and taxes that lie at the heart of what businesses need to know in order to plan for the future.”

The British Chambers of Commerce (BCC) today (Thursday) releases the results of its survey, in partnership with American Express, which finds the majority of businesses expect the fall in sterling to increase their costs.

The survey of over 1,300 businesses, including those in Norfolk, found that 63% of businesses expect their costs to increase in the next 12 months as a result of the devaluation in sterling, including a quarter (24%) who expect costs to rise significantly. In comparison, only 6% of firms expect their costs to decrease.

Over 70% of manufacturers (73%) and business-to-consumer firms (71%) anticipate costs increases, compared to 55% of business-to-business firms, according to the results.

The survey also found that many businesses trading abroad are leaving themselves exposed to currency fluctuations, with nearly half (46%) of UK firms not taking proactive steps to manage currency risk. Smaller firms are less likely than their larger counterparts to be managing risk (44% of firms with 1-9 employees, compared to 70% of those with 50-249). Manufacturers have the highest proportion of businesses managing currency risk (76%), compared to B2C (57%) and B2B (39%).

The findings of the survey highlight the extent to which the depreciation in sterling is expected to compound the price pressures on Norfolk firms, underlining the need to ease the domestic cost of doing business. There is also a clear need for more support and information for exporting businesses on the importance of managing currency risk.

Other key findings in the survey are:

• The most common forms of managing currency risk are invoicing in sterling (27%), opening foreign currency accounts (15%), and waiting for an advantageous rate and buying using the spot market (15%)
• Less than a quarter (24%) of businesses say they have a complete understanding of the types of international payment methods available, with 23% saying somewhat and 13% none at all
• The biggest challenges businesses face in making or receiving international payments are delays (21%), bad or misleading exchange rates (16%) and hidden fees (16%)

Julie Austin, International Trade Manager for Norfolk Chamber of Commerce said:

“Weak sterling reflects the current climate of political uncertainty and lack of clarity on the Brexit process. A clear and firm strategy from government about the nature of the UK’s future trading relationship with the EU would go a long way to reassure and stabilise markets.

“While businesses await answers on Brexit, and a return to a stronger currency, they must take the necessary steps to prepare for potential risks. It’s concerning to see the proportion of Norfolk companies not actively managing currency risk. For those trading internationally, it makes good business sense to explore the options available to insure against currency fluctuations.

“Norfolk companies are clearly feeling price pressure from the depreciation in sterling. The government made a crucial first step in the Budget with action on business rates, but further steps need to be taken on the upfront cost of doing business, so that firms can mitigate currency pressures and grow their business.”

Karen Penney, Vice President & General Manager, Global Commercial Payments and Small Business Services UK, said:

“Whilst managing currency fluctuations can seem daunting, technology is rapidly lowering these barriers, helping to streamline the payment process and granting added layers of security to businesses. At American Express we know that simple currency tools such as forward contracts can effectively protect a business from exchange rate volatility by guaranteeing a fixed rate. Not only will this protect margins, it will enable more accurate forecasting and budgeting. With the right tools and resources, businesses can unlock growth opportunities both at home and abroad.”

Businesses throughout the UK came together for the Chamber Business Awards to celebrate outstanding success in business and recognise the achievements of regional Chambers.

Returning for its 14th year, the annual award ceremony is a showcase event in the national business calendar that highlights ‘the role of business in delivering growth and prosperity for the UK and local communities’.

Norfolk based firm epos now were crowned regional winners in the East of England, receiving the ‘Commitment to People Development’ Award and were shortlisted as a finalist at the national awards ceremony.

Double winners AnyJunk received the coveted Business of the Year title and ‘Best Use of Technology’ award for their innovative use of technology to change the productivity and efficiency of the waste disposal industry.

Commenting on this year’s awards, Francis Martin, President of the British Chambers of Commerce (BCC), said:

“I never cease to be surprised by the innovation and ambition of UK companies, and the contribution firms of every size and sector make to their local communities.” 

The full list of winners were:

·         Best Use of Technology – AnyJunk, a London based bulk waste collector for business and homes, is using technology to change the productivity and efficiency of the waste disposal industry

·         Export Business of the Year – Linwoods, a bakers and health food business based in Armagh, has made excellent use of consumer and market research and sells its products to retailers in over 30 countries

·         High Growth Business of the Year – ICON Aerospace Technology Ltd, a world leader in highly engineered polymer-based products for aerospace and defence applications, has increased turnover by 30% and created 150 jobs in less than two years

·         Excellence in Customer Service – Stockport Homes, delivers affordable housing and accommodation solutions, and has driven customer satisfaction through the implementation of a Continuous Improvement Framework

·         Small Business of the Year – DNA Worldwide, providers of DNA, drug and alcohol testing, has used state of the art technology to develop a range of new services, and has ambitious plans to expand

·         Commitment to People Development – Manchester & Cheshire Construction Co. Ltd, has shown impressive commitment to the training and development of staff, participating in 252 training days last year

·         Business and Education Partnership – Ahead Partnership, based in Leeds, has worked to address the soft skills gap, and brings together teachers and employers to create bespoke programmes of learning

·         Best Use of Social Media – JC Social Media Limited, began trading from a spare bedroom in Birmingham in 2011, and use social media to help clients connect with new customers, gaining 28.9m impressions for over a four-month period for a client’s event

·         Health and Wellbeing – Flynn, a building and maintenance business based in Northern Ireland, developed a ‘Boost’ initiative to improve moral, mental wellbeing and communication

·         Chamber of the Year – Greater Manchester Chamber of Commerce, has grown by 11% in the last three years and worked closely with other chambers in the region to share best practice

·         Excellence in International Trade – Northamptonshire Chamber (incorporating Milton Keynes Chamber of Commerce) offers members a wide portfolio of services relating to trade, including International Trade Forums and regular workshops

·         Most Effective Campaigning – North & Western Lancashire Chamber of Commerce, has shown determination and a dedication to the local business community in its campaign for energy exploration in the county

·         Excellence in Membership Services – Staffordshire Chambers of Commerce has grown by 12% over the last two years, and an impressive 20% of Staffordshire’s workforce are in membership

The EDP’s Future 50 businesses were revealed last night at the Future50 Live! conference at the Enterprise Centre at the UEA. Future50 is a collection of Norfolk and Suffolk’s most innovative and ambitious companies.

We are happy to announced that fourteen of Norfolk Chamber of Commerce members were recognised, including our Gold Patron, MIGSOLV, a world class data centre provider in Norfolk. 

Chamber members recognised include; 

• The SenLab Group 
• Your Own Place CIC 
• Gurney Environmental 
• Pruce Newman Pipework 
• Chadwicks Limited 
• ShrinKit Ltd 
• CSSCloud Computer Services 
• Pickr 
• Naked Element 
• Furthermore Marketing 
• Migsolv 
• Full Mix Marketing 
• Heatlink 
• Nu Image

To see the full list of the Future 50 click here. 

Commenting on the publication of the rail strategy by the Department for Transport, Chris Sargisson, Chief executive of Norfolk Chamber said:

“The prospect of increasing capacity by re-opening some railway routes will be cheered by several of Norfolk’s business communities, in particular the supporters of the re-opening of the King’s Lynn to Hunstanton route.  It will also help to crowd in local housing and economic developments in many areas and will go some way to reassure firms in this region that their economy is not being neglected. 

“The new joint teams need to have regular dialogue with businesses to better understand the issues and opportunities at the local level, and businesses must be consulted on the competitions for new franchises.

“We look forward to working with government to ensure that Norfolk and the UK’s rail infrastructure is reliable and fit for purpose as we leave the European Union, giving Norfolk businesses the best domestic environment possible in which to thrive.”

The planning system in England is more complex, costly and difficult for business than it was 5 years ago, according to a major report published today (Monday) by the British Chambers of Commerce.

The BCC report says that five years after the introduction of the National Planning Policy Framework (NPPF), which was designed to make the system less complex and more accessible, businesses are experiencing too many delays and barriers to investment. 

The report finds that the government’s focus on new homes is leading to increased pressure on the availability of employment land and premises. A BCC survey of over 900 businesses across the country revealed that one in five firms are struggling to find the land and premises they need. 

The report says the government’s pre-occupation with housing at the expense of other land uses is also leading to localised tensions. New homes are being build adjacent to long-established businesses in towns and cities and causing serious problems, both for new residents and businesses. 

The report urges the government to review the NPPF to ensure that the needs of business are on an equal footing with other stakeholders.

Key recommendations include:

• Employment land and uses should be given equal priority to housing, so that people can access jobs and businesses have the space they need to grow and compete. 
• Where shops and offices have been converted to homes, councils should ensure there is an alternative supply of quality commercial office space available elsewhere.
• Where there is high demand for new housing and jobs, there should be intelligent use of the green belt to ensure local communities benefit from the delivery of new homes and infrastructure. 

Jonathan Cage, President of Norfolk Chamber and Managing Director of Create Consulting Engineers said:

“Access to affordable employment land and premises is essential for business innovation, expansion, and long-term competitiveness. Too many firms are now unable to find the land and premises they need.  We risk creating big problems for the future if we don’t get the right balance of jobs and homes. 

“Firms still face too many barriers, costs and delays as they negotiate the planning system. We need to find a way to make it work better, to provide the strategic certainty for businesses to make their own investment decisions and the freedom and flexibility they need to innovate, grow and compete globally.

“Planning for jobs and homes, together with up-front government investment in modern infrastructure, will give people better access to employment opportunities.   It will help businesses access a skilled workforce and provide the platform to compete globally.  The planning system must be looked into as part of plans to make the UK Brexit-ready.”

The British Chambers of Commerce, in partnership with DHL, today (Thursday) publishes its latest Quarterly International Trade Outlook, based on survey and documentation data from UK exporters.

The Outlook shows considerable price pressures amongst exporting businesses – but exporters are absorbing the impact for the moment thanks to stronger sales and orders.

The BCC/DHL Trade Confidence Index, which measures the volume of trade documentation issued by accredited Chambers of Commerce for goods shipments, rose by 2.25% on the quarter, and stands at the third highest level on record.

The survey, based on the responses of over 3,300 exporters, shows that in the manufacturing sector, exporters are enjoying strong sales and orders in foreign markets, and are also reporting improvements in domestic sales and orders.

The results of the survey indicate the price pressure from the cost of raw materials is high across the board for exporters (86% in manufacturing, 42% in services). 68% of exporting manufacturers consider exchange rates as a concern to their business.

Exporters are also more likely to have tried recruiting in the last three months. However, firms across the UK economy are struggling to find the right skills, with 70% of manufacturers and 57% of services firms reporting recruitment difficulties.

The findings suggest that the fall in sterling is increasing price pressure for businesses across the economy, but particularly in manufacturing. However, many of those businesses that export have been able to offset the fall in sterling thanks to timely improvements in sales and orders, both overseas and at home.

Key findings from the report:

The BCC/DHL Trade Confidence Index, a measure of the volume of trade documentation issued nationally, rose by 2.25% on the quarter. The Index now stands at 126.51 – up 4% on Q3 2016 – and stands at the third highest level since records began in 2004

• 44% of exporting manufacturers and 30% of exporting service firms reported increased export sales in Q3. 41% of exporting manufacturers and 26% of exporting service firms reported increased export orders
• 41% of exporting manufacturers reported that domestic sales had increased, and 38% domestic orders increased in Q3 2017
• 39% of exporting manufacturers expect their prices to rise. Of these firms, 86% cited raw materials as a cost pressure
• 68% of exporting manufacturers cite exchange rates as a concern to their business, and 49% in the services sector
• 33% of exporting manufacturers and 31% of exporting services firms view inflation as a concern to their business

Commenting on the findings, Julie Austin, International Trade Manager for Norfolk Chamber said:

“While it’s encouraging to see many exporters reporting improved performance on the back of rising demand in key markets, including the Eurozone, price pressures remain a real cloud on the horizon for Norfolk firms.

“The depreciation of sterling has undoubtedly benefited some firms, but has ratcheted costs up significantly for others. Taken together with higher domestic costs facing businesses, a tipping point may soon be reached for some firms – with consequences for investment, recruitment and trade.

“Many Norfolk exporters are also being hampered by issues in the domestic business environment, most notably the widening gap between business skills needs and the pool of available labour. Trading businesses in some areas now say that there is a generalised labour shortage in their area, which could put a brake on their overseas activity if it is not addressed. This is a sobering reminder that the focus needs to be on the fundamentals here at home, as well as the high politics of Brexit and global trade policy.”

Ian Wilson, CEO DHL Express UK and Ireland, said:

“Now is an interesting time to be part of the UK’s export industry. Whilst it remains shrouded in uncertainty about what Brexit will look like and the implications for UK businesses large and small, those businesses are demonstrating a defiantly positive export performance.

“The world is now more connected than it ever has been, and this report shows that UK businesses are embracing this connectivity, despite the lack of clarity about what lies ahead. We must ensure that businesses remain able to meet international demand and, in doing so, keep the UK at the forefront of buyers’ minds when shopping cross border.”

A company in Egypt is seeking distribution partners in the UK for their products – high quality Egyptian cotton items and fresh produce.

The two attachments below will provide more information about the company and their activities.

If you are interested in this great opportunity, please contact us on export@norfolkchamber.co.uk and we will pass your details on. 

A meeting between Trade Minister Greg Hands and representatives of the 15-member CARIFORUM group of countries has resulted in agreement to discuss future trade ties in more detail.

The CARIFORUM States are: Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, the Dominican Republic, Grenada, Guyana, Haiti, Jamaica, St Lucia, St Vincent and the Grenadines, St Kitts and Nevis, Suriname, and Trinidad and Tobago.

Bilateral trade between the group and the UK was worth more than £2 billion last year.

That trade is, however, currently subject to the provisions of an Economic Partnership Agreement (EPA) between the EU and CARIFORUM, which was signed in 2008. As long as the UK remains a member of the EU, that agreement will continue to apply.

With Brexit looming ever larger on the horizon, the Government is seeking to make sure that trade with CARIFORUM members will continue when the UK leaves the EU.

CARIFORUM Ministers reportedly welcomed both the UK’s commitment to the existing CARIFORUM-EU EPA and the Government’s stated intention to avoid disruption for its trading partners during the Brexit process.

They were also said to have appreciated the UK’s desire to maintain current market access to the UK post-Brexit.

At the meeting, the two sides agreed to explore ways in which the existing trade arrangement between the UK and the CARIFORUM States can continue, describing the initiative as “a technical exercise to ensure continuity in the preferential trading relationship, rather than an opportunity to renegotiate existing terms”.

For more information on exporting and export documentation, please contact us on 01603 729712 or email export@norfolkchamber.co.uk

Commenting on the Industrial Strategy White Paper, Adam Marshall, Director General of the British Chambers of Commerce (BCC), said:

“Chambers of Commerce have been working actively with government to develop the Industrial Strategy, and we are pleased that the concerns and ideas of business communities across the country have been listened to.

“Businesses will welcome the sense of mission that infuses the Industrial Strategy, as well as its assessment of the challenges and opportunities that the UK faces, particularly as both businesses and government look to forge a new path beyond the European Union.

“We have been clear that harnessing the potential of our cities, towns and counties is crucial to make our country more competitive and prosperous, and so Chamber business communities will cheer the focus on places to boost productivity in local economies.

“Over the coming months, it is crucial that the government listens to the full range of business voices when developing local and sector-based deals, so that firms of all sizes and sectors can buy into the Strategy for years to come. 

“Businesses will now want to see clear evidence that this Industrial Strategy can be implemented over the long term – and will be dismayed if it falls victim to short-term Westminster politicking. Only a consistent and coherent approach over time will help set the foundations for business communities across the UK to grow and thrive.” 

Stand bookings are open for the B2B Exhibition 2018. After another busy event in October 2017 that attracted more exhibitors and visitors than ever before, the 2018 Exhibition looks set to be another unmissable event the Norfolk’s commercial calendar.

The B2B Exhibition is the largest event in Norfolk Chamber’s annual calendar, offering businesses from across the region the opportunity to raise their profile, promote their products and services and network with leading Norfolk businesses.

Anyone looking to book a stand at B2B 2018 can save £50 with an early bird discount if they book by Friday 26th May.

Plus, there are further discounts for 2017 exhibitors who secure their stand by Friday 22nd December.

There are also a range of sponsorship opportunities available at the region’s premier business exhibition, offering businesses the chance to gain maximum exposure and promotion of their brand.

What did exhibitors make of B2B 2017?

97% agreed the exhibition was well attended

100% agreed the exhibition helped to raise their profile

“We all found it really engaging, made some great contacts and would definitely exhibit again!” Sophie Lampert, Skills Edge Training

“Well advertised, well run and well attended!” Rob Woods, Empresa

For more information or to book a stand at B2B 2018 visit www.norfolkchamber.co.uk/b2b.

Any questions? Contact joe.fitzgerald@norfolkchamber.co.uk 01603 729 708.

The inaugural North Norfolk District Council Business Awards has been launched – and businesses across the district are being encouraged to put themselves forward to win one of the prestigious titles.

The awards (#NNBA18) are open to businesses of all sizes and across all sectors. The aim is to promote and celebrate the vibrant business community across North Norfolk, and to unearth some hidden gems during the process.

There are seven categories: Agricultural, Business Growth, Business Development & Innovation, Environmental, New Businesses, Tourism & Hospitality, and Young People & Skills.

Entries can be submitted until January 15, with the shortlisted businesses invited to an awards ceremony at Gresham’s School on February 15.

Cllr Tom FitzPatrick, Leader of North Norfolk District Council, said: “We regularly deal with some very successful and very exciting ventures, but too often these successes don’t get the recognition they deserve.

“This inaugural project will reveal some of the hidden business stories across North Norfolk, and give the district as a whole the chance to celebrate the vibrancy of our business community.”

Cllr Nigel Dixon, NNDC Portfolio Holder for Business & Economic Development, said:  “There is huge diversity within the business community across North Norfolk, and these awards are designed to be relevant across all sectors.

“Many businesses will be keen to win their individual categories, but it’s just as important for us that every organisation that enters will benefit from taking part and be able to shout about all the successes they are having.”

The categories are being sponsored by Anglian Water, Archant, Eastlaw, New Anglia LEP and Norfolk Hideaways.

The awards night will be hosted by Chris Sargisson, chief executive of Norfolk Chamber of Commerce.

He said: ” Norfolk businesses are in great shape and many lead the world within their chosen field by demonstrating the key attributes needed for success: dynamism, creativity and resilience, to name just a few.

“The future and growth of the economy across the county – including in North Norfolk – is centred on recognising brilliance, supporting the region as a place where success thrives and, most importantly, celebrating the best.”

To enter the North Norfolk District Council Business Awards, visit: https://www.north-norfolk.gov.uk/businessawards/index.html