This week we were honoured to receivean envelope stamped with 10 Downing, inside was a message of congraluations from David Cameron, Prime Minister on Norfolk Chamber celebrating our 120th year anniversary this year.
The official date of our anniversary is marked by our AGM on 7th October 2016, on this date in 1896 we were incorporated as Norwich Chamber of Commerce, before later changing to Norfolk Chamber of Commerce.
Read the Prime Minister’s message of congratulationsbelow:
“I am delighted to offer my warm congratulations to the Norfolk Chamber of Commerce as you celebrate your 120th Anniversary.
The Chamber is an important forum for businesses to voice their opinions on local and national issues, as well as providing your members with the opportunity to engage with Government policy.
The Chamber has a strong record of campaigning for local infrastructure development, playing an important role in lobbying for improvements to the A11. You (Caroline Williams, Chief Executive)have also done impressive work on youth unemployment, particularly as a founder member of the Norwich4Jobs campaign, which secured the backing of 162 employers and helped over 1,700 young people into paid employment.
I hope you all take the opportunity to celebrate the Chamber’s many achievements, and that you can continue to support local businesses for many more years to come.”
To commemorate our 120 years we have a dedicatedwebpage to share the research undertaken.Take a tour of our President’s Board from 1896; read a brief history of Norfolk’s key industry sectors; find out more about the 120th celebrationevents; and find information on ourChamber Community Fund raising moneyto improve the opportunities and career options open to young people across the county.
On Wednesday 6th July, Norfolk Chamber Members gathered at The Library restaurant in Norwich, for our Business Breakfast – ‘Attract, Engage & Inspire’.
The high ceilings and modern décor at the venue, created the perfect environment for over 60 business professionals to network over coffee and breakfast.
The theme of the breakfast was based around employee engagement and how our region can attract and retain top talent. The event was opened with a presentation from Elinor Goodhead, Policy Coordinator at The Norfolk Chamber on our Young People Campaign, followed by a short presentation from our event sponsor; Kevin Bayes Great Yarmouth College. Kevin discussed the growing trend in apprenticeships and how businesses can get involved and gain support in implementing these.
It was then time for our networking activity ‘Speed Safari Networking’. Delegates are given a card with 4 table numbers on and 4 minutes at each table. Having received great feedback from previous events, we once again used this activity as an opportunity for delegates to network with up to 35 different people in as little as 16 minutes.
Once guests had been treated to a delicious Full English breakfast, it was time to hear from our guest speaker Lynn Walters, Pure Resourcing Solutions. Accompanied by undergraduate student Amy Andrews, Lynn provided a thought provoking presentation on how our region can engage employees as well as attract and retain top talent. Lynn highlighted some interesting research from Amy’s dissertation on employee engagement, whist exploring how businesses can adapt their environment and offerings to attract ‘Generation Z’.
The British Chambers of Commerce, have been working hard in Westminster following the recent exit vote in the EU Referendum. Following meetings with the Secretary of State for Business Innovation & Skills, Sajid Javid and the Minister of State for Trade and Investment, Lord Price, Mr Javid and Lord Price have written asking for business views on three trade policy issues:
What your priorities are for any negotiations on our trading relationship with the EU and the rest of the World?
What support you can offer to help us to deliver our shared goals on trade, including – for example – any ideas you may have such as the secondment of staff, which a number of businesses have mentioned to us?
What further work can best help you to find and capitalise on new export opportunities and attract inward investment, led by UK Trade and Investment (UKTI)?
Norfolk Chamber will be raising the views of Norfolk businesses at a meeting in London next week, so your earliest response would be appreciated. Please send your comments to Nova Fairbank on email: nova.fairbank@norfolkchamber.co.uk by no later than lunchtime on Tuesday 12 July 2016.
EU exports to South Korea have increased by 55% since the trade deal between the two partners entered into force in 2011, and European companies have saved €2.8 billion in scrapped or discounted customs duties. Bilateral trade in goods between the EU and South Korea has been growing constantly since 2011, and reached a record level of over €90 billion in 2015.
These are some of the findings of a detailedEuropean Commission report released today to mark the five-year anniversary of the trade deal with South Korea, demonstrating a significant boost in trade thanks to the agreement.
In a comment, EU Commissioner for Trade CeciliaMalmströmsaid: “The numbers speak for themselves. The evidence of our agreement with Korea should help convince the unconvinced that Europe benefits greatly from more free trade. When our companies can export more easily, or when money saved from scrapped customs duties can be reinvested in company development, it spurs European growth. It safeguards and creates jobs. This anniversary gives us many reasons to roll up our sleeves and conclude all other pending EU trade deals that are on the table.”
South Korea is now one of the EU’s top ten export markets. In addition to more traditional exports of machinery, transport equipment, and chemical products, the agreement has opened new export opportunities for many small European businesses in such diverse sectors as food and drink, pottery, packaging, sports equipment and book binding technology. The previous EU trade deficit with South Korea has been turned into a trade surplus.
Exports of EU products that previously faced particularly high duty rates – such as certain agricultural products – now benefit from discounted tariffs, and their exports have increased by over 70%. Other sectors experienced an even more significant improvement. For instance, the EU’s car sales in South Korea tripled over the five-year period. In addition, EU companies managed to add 11% to the value of services provided in South Korea and expand bilateral investments by 35%. Worries expressed by European stakeholders ahead of the FTA’s approval have thus not materialised. Nonetheless, the European Commission continues to monitor the situation as regards potentially sensitive sectors (such as textiles, cars and electronic products) and – together with civil society – keeps a close eye on the impact of trade on sustainable development. In this context, the EU and Korea also cooperate on environmental issues and labour rights.
The agreement also allows EU authorities to continue improving trading conditions for European companies by raising potential problems in several implementing committees created under the FTA. The Commission has agreed with South Korea to explore possible amendments to the existing deal to make it correspond even better to expectations of stakeholders on both sides, for example to enable European companies to export through their logistical hubs in Asia and at the same time benefit from the FTA.
Unfortunately, more than 35% of European companies exporting to Korea fail to ask for the privileged treatment – in terms of lower customs duties and other benefits – to which they are entitled. This shows that EU Member States have a role to play in informing companies about the benefits of the EU trade deals already in force.
Norwich City Council have released their latest economic barometer. The report highlighted:
Locally
The latest figures from StartUp Britain showed that in Norwich 521 new firms were created in the first 5 months of the year. This compares to 1,149 for the whole of 2015.
Chamber member, Howes Percival moved into their new £3m home in the Cathedral Quarter in Norwich
Norwich-based Lintott Controls Systems is returning to profit under new leadership and with ambitious growth plans
BHS will close down, with the likely loss of 11,000 jobs. The group has stores in both Norwich and Great Yarmouth. Expressions of interest have already been made by other retailers keen to move into the Norwich store
Nationally
UK’s trade deficit narrowed sharply in April after a record monthly jump in exports
UK business confidence feel to a 3 month low in May. A second month consecutive fall
The UK construction sector experienced another difficult month in May, with output growth easing to its weakest in 3 years
ONS figures show that UK manufacturing output grew at the fastest pace for nearly 4 years in April
Retail sales volumes rose by 0.9% – must stronger than expected
Construction of Norwich Northern Distributor Road (NDR) haspassed the six-month milestone and is progressing well.
Since the start of the year the project has moved swiftly through preparatory phases, including environmental works, archaeology and site clearance, and on into the main excavations. Three quarters of a million cubic metres of material has already been excavated by Balfour Beatty, the main contractor for the 20km dual carriageway, which is currently the largest local authority-led road construction project in the country.
On Norwich NDR, the mainly mild winter and dry spring has seen the project move through site preparation into main construction. Good progress during these early months has been made, but recent wet weather has slowed things down slightly. Even so, progress and achievements to date have been considerable, including:
300 ha of site clearance, with archaeological investigations complete on 18 ha.
Significant environmental work completed, including 1,500 toads, frogs and newts (including 350 great crested newts) cleared from site using 7km of amphibian fence, bucket traps and Rocky the newt sniffer dog. Two bat roost houses built, plus 81 bat roost boxes put up on trees.
26 km of fencing
21 utility service diversions
A high pressure gas main diversion.
Construction of eight plant crossings and nine site access points.
Seven drainage lagoons excavated, 400 metres of drainage pipe installed, and a ditch to protect the Wensum Valley.
512,000 cubic metres of topsoil stripped.
240,000 cubic metres of bulk excavation, with 40,000 cubic metres of gravel stockpiled.
Concrete bases complete on Buxton Road bridge, piling complete at Plumstead Road bridge and underway at Middle Road bridge, service and route diversions complete to allow work to start on the Marriotts Way green bridge.
The Norwich NDR programmed contract completion date remains as February 2018, but the joint Balfour Beatty and Norfolk County Council team, with design and ecological support from Mott MacDonald, have set themselves a target of having the road open to traffic by Christmas 2017. The projects £178.95m total cost (including the Postwick junction) is being closely monitored and measures to reduce the risk of an overspend are in place, with a drive to contain and reduce costs through ongoing ‘value engineering’ wherever possible.
The target for the next six months includes the completion of roundabouts at Fakenham, Fir Covert and Reepham Roads, the start of works on other roundabouts and the realignment of Drayton Lane, the start of construction on more bridges, further utility service diversions, drainage and fencing, and the start of some of the projects significant landscaping.
Martin Wilby, Chairman of the EDT Committee, said: “The construction team have set themselves a very challenging target of having traffic using the NDR before the end of next year (2017), and have made tremendous progress so far, regardless of the recent unhelpful weather. I am confident that the joint Balfour Beatty, County Council and Mott MacDonald team are on track to deliver the project as planned.”
The NDR is the biggest single project in the overall ‘Transport for Norwich’ delivery plans, which are drawn from the Norwich Area Transport Strategy. The committee will also receive updates on other Transport for Norwich schemes, including the Golden Ball Street and Westlegate project in Norwich city centre. The report also recommends that an enhancement to one of the existing roundabouts on the Postwick junction to improve the flow of traffic and reduce short-lived peak-hour queues for traffic coming from the east (Acle and Gt Yarmouth direction).
In addition to hearing about work on the NDR councillors will also consider a report on a possible ‘Western Link Project’, which would consider the transport issues between the A1067 and A47 to the west of the city. The committee will consider some proposed first steps and whether to agree funding to allow further studies to be carried out over the next year to provide more information on traffic and environmental matters.
We have received notification from the Egyptian-British Chamber of Commerce that the Egyptian Consulate will be closed from Wednesday 6th July to Friday 8th July for Eid al-Fitr to mark the end of Ramadan.
All documents received by the Consulate onthose dates will be processed as usual on Monday 11th July 2016.
Any documents that we receive between this time will be sent for legalisation, but there may be a slight delay with the return time of yourdocuments.
On Thursday 23 June, Chamber Members joined us at Oaklands Hotel for a first in our events calendar: The Networking Games. Held at Oaklands Hotel Norwich, the evening consisted of network team building activities, and a delicious BBQ.
Despite heavy rain, the event was a lively, enjoyable evening, with plenty of laughter. As delegates arrived, they enjoyed a drink from the bar, and proceeded to the BBQ. The rain held off long enough for us to get out on the terrace, but what’s a BBQ in Britain without a little rain?
Following on from this, delegates were handed a series of cards with table numbers to follow. Each delegate would move to a table, introduce themselves to one another and then proceed to the activity. With four activities across 4 tables, delegates networked around the room, with the process enabling them to meet every other delegate in the room.
Activities on the evening included Human Bingo and the very traditional Two Truths, One Lie: this time themed to summer holidays. We also introduced some new activities including anagrams of the company names on the delegate lists, and a quiz game called ‘Question Line’.
We’ll keep our fingers crossed for a bit of sunshine next year!
Our next After Hours Event will be Look the Business, fun, fashion and networking! More details.
The UK has voted leave the European Union. Leave vote won with 52% of the vote, whilst the Remain vote was 48%. The Leave vote won by 1,269,501 votes.
The Electoral Commission advised that Britons turned out in huge numbers to vote on their future in the European Union, with 72.2% of registered voters casting their ballots in yesterday’s referendum.
In Norfolk, only the Norwich district voted to Remain, whilst all other areas voted to Leave. Overall in the East of England the Leave vote was 68.8%, with Remain at 31.2%.
Norfolk EU Referendum Results AreaLeaveRemainEast of England56.5%43.5% Breckland 64.2% 35.8% Broadland 54.4% 45.6% Great Yarmouth 71.5% 28.5% King’s Lynn & West Norfolk 66.4% 33.6% North Norfolk 58.9% 41.1% Norwich 43.8% 56.2% South Norfolk 51.7% 48.3%
Following this historic result David Cameron has announced that he will be stepping down as Prime Minister. He advised that he will stay on whilst a new Tory leader is elected, but it is expected that he will be gone by the time of the Conservative Party Conference.
Mr Cameron said that it was “not right” for him to be “the captain that steers the country in a new direction”. He went on to say “We must now prepare for a renegotiation with the EU. Above all this will require strong determined and committed leadership.”
More importantly, Mr Cameron said he would not invoke Article 50 of the Lisbon Treaty that will start the process of Brexit – leaving that decision to his successor.
Following the UK’s EU decision, Mark Carney, Governor of the Bank of England, has released a statement. In it he said: “Market volatility can be expected, but we are well prepared for this. The Treasury and the Bank of England have engaged in extensive contingency planning and the Chancellor and I have been in close contact, including through the night and this morning.
“To be clear, the Bank of England will not hesitate to take additional measures as required as markets adjust and as the UK economy moves forward. The bank has stress tested our banks against conditions much more severe than those we currently face.
“A few months ago, the Bank judged that the risks around the referendum were the most significant, near-term domestic risks to financial stability. To mitigate them, the Bank of England has put in place extensive contingency plans. These begin with ensuring that the core of our financial system is well-capitalised, liquid and strong.”
To read the full Bank of England statement click here
Dr Adam Marshall, British Chambers of Commerce Acting Director General, said
“In the wake of the electorate’s historic decision to leave the European Union, the immediate priorities for UK business are market stability and political clarity.
“Some business people will be pleased with the result, and others resigned to it. Yet all companies will expect swift, decisive, and coordinated action from the government and the Bank of England to stabilise markets if trading conditions or the availability of capital change dramatically.
“Firms across the UK want an immediate and unambiguous statement from the Prime Minister on next steps, along with a clear timeline for the UK’s exit from the European Union.
“Firms want help to get Britain back to business at a time of great uncertainty. The health of the economy must be the number one priority – not the Westminster political post-mortem.”
Caroline Williams, Chief Executive of Norfolk Chamber said:
“Norfolk business will want to see a detailed plan to support the economy during the coming transition period – as confidence, investment, hiring and growth would all be deeply affected by a prolonged period of uncertainty. If ever there were a time to ditch the straight-jacket of fiscal rules for investment in a better business infrastructure, this is it.
“Businesses need action to maintain economic stability, a timeline for exit, and answers to their many practical, real-world questions about doing business during and after this historic transition.
“The Norfolk Chamber will be working with local MPs and leaders to ensure that Norfolk business interests are taken into account. We will support our members as we all work through the issues and opportunities which may arise over the coming weeks and months.”
Now that the EU referendum has concluded, the Norfolk Chamber business community would like to see fast-paced decisions to improve the business environment, give confidence and support growth. Norfolk Chamber will continue to support our members as they work through the issues and opportunities which may arise over the coming weeks and months.
The CEO of Norfolk Chamber, together withother Chamber CEOs and the British Chambers of Commerce have already held a virtual meeting to put in place plans to support the needs of the business community whilst the UK transitions out of the EU.
Caroline Williams, Chief Executive of Norfolk Chamber said:
“The business community is facing uncharted waters as the UK now embarks on the process to leave the EU. For many businesses, change will not be immediate, however all firms will face a level of uncertainty in the medium term. Norfolk Chamber, together with the rest of the Chamber network, will be lobbying Government for clarity on infrastructure, funding, housing and skills to ensure that the business community has the economic stability to continue to deliver economic growth and jobs in our region.”
The latest Bank of England Agents’ Summary for Quarter 2 2016 has been published. Key highlights are:
The annual activity growth rate has remained moderate
Business services growth has slowed
Housing market activity has fallen
Growth in labour costs per employee has risen
Annual turnover growth has remained moderate, with turnover growth easing in the service sector, partly due to decision delays ahead of the EU referendum.
Construction output has remained stable with construction of new industrial property and education facilities remaining sold and more demand for refurbishment of existing commercial space. The housing market activity fell in April and May compared to the heightened activity that was seen in Quarter 1.
Asa result of the introduction of the National Living Wage in April, there has been growth in labour costs per employee. Recruitment difficulties have eased in recent months though they remain higher than normal.