From 8 April HMRC is going to introduce an exporter details facility on uktradeinfo.com.
Exporters can opt out of the searchable facility, but details cannot be removed retrospectively. Once the data has been made available, it cannot be removed. Exporters who apply immediately will not have their details shown. Otherwise, export data from 1 January 2016 will be made available.
The opt-out rules for Importers Details are also changing from 8 April to bring them into line with the exporter details rules. Anyone who applies for opt-out from Importer Details immediately will have their details excluded from 1 February 2016.
Chambers of Commerce across the country, including Norfolk Chamber, are celebrating National Apprenticeship Week with a range of events, having already supported over 15,000 young people so far through Your Future Careers Fairs.
Norfolk Chamber has been involved with delivering Your Future events, which are designed to raise awareness of the career options available to young people, including apprenticeships, and more than 16,500 14-24 year olds have participated nationally so far.
Across the country, an extra 21 events are planned during National Apprenticeship Week, which are expected to attract around 8,000 students.
Chambers involved in the Your Future events include Black Country, Birmingham, Business West, Barnsley & Rotherham, Cornwall, Coventry & Warwickshire, Cumbria, Devon, Doncaster, East Midlands, East Lancashire, Greater Manchester, Hereford & Worcester, Hampshire, Hertfordshire, Hull & Humber, Isle of Wight, Kent Invicta, Lincolnshire, Liverpool and Sefton, North & Western Lancashire, Norfolk, St Helens Chamber, Sheffield, Shropshire, Somerset, Staffordshire, South Cheshire, Sussex, Suffolk, West and North Yorkshire and Wirral.
The scheme works with local businesses to help bridge the gap between the worlds of education and work, to highlight the options available to students, as well as the skills needed to enter the workplace. So far, around 500 national businesses have participated in the scheme through Chambers of Commerce.
Caroline Williams, Chief Executive of Norfolk Chamber said:
“The Your Future events help raise the profile of apprenticeships, which are of benefit to businesses, individuals and the whole UK economy.
“The recently highlighted challenge of promoting apprenticeships in schools is an issue that the Noroflk Chamber and other Chambers within the UK network are tackling, through the Your Future events and by working closely with the Skills Funding Agency, to highlight the breadth of career options available through apprenticeships.
“Through Chambers, local firms can link up with schools, highlight career opportunities, and dispel the myth that the only route to success is a university degree.
“We will continue to help local businesses connect with education and training providers, to raise the visibility of apprenticeships and address the skills gap across the country.”
Ahead of the Chancellor’s Spring Budget on March 16, the British Chambers of Commerce (BCC) is urging the government to avoid introducing new taxes, costs and obligations that could dent business confidence in a softening economic environment.
The business group urges the Chancellor to use his fourth fiscal event in 12 months to opt for a steady approach that gives businesses, individuals, and government itself the time needed to work through existing commitments and reforms. BCC seeks three commitments from the Chancellor at the Budget:
No new taxes on businesses or entrepreneurs for the remainder of this parliament. Pensions auto-enrolment, the National Living Wage, the apprenticeship levy, higher dividend taxes and other measures have significantly increased up-front burdens for business;
Deliver the long-overdue business rates reform by April 2017, and focus on resetting the valuation, collection, and setting of the rates, as opposed to changing who gets to keep and spend the revenue;
Address shortcomings at HMRC to support, not undermine, business growth. BCC wants HMRC focused on supporting businesses, particularly SMEs, and making compliance easier – rather than heavy – handed enforcement campaigns.
Dr Adam Marshall, BCC Acting Director General, said:
“In an increasingly uncertain economic environment, the Chancellor should avoid any and all moves that could damage business confidence. At a time when many businesses already face sharply higher costs and taxes, the Chancellor must avoid adding any new obligations on our firms.
“Ministers must also finally take action to ease the burden of business rates. Reform of the rates system is long overdue, and a source of uncertainty for companies everywhere.”
Westlegate is set to be closed as part of next phase of Transport for Norwich city centre improvement work. The second phase of the Transport for Norwich city centre improvement work is set to start on Monday 21 March 2016. The biggest change for motorists will be the permanent closure of Westlegate to all through traffic with Golden Ball Street opening as a two-way street.
The aim of the current proposal is to build upon other TfN projects, especially the changes implemented in St Stephens Street, Chapel Field North, and Rampant Horse Street in 2014, and to make the most of the benefits of the Norwich Northern Distributor Road, which should be completed in late 2017.
The £3.05m scheme is being carried out in phases to minimise disruption and will once complete:
Give motorists easier access to car parks, including John Lewis, both Castle Mall car parks and the multi-storey under construction off Rose Lane
Restore All Saints Green as an attractive traffic-free open space.
Improve pedestrian and cycle connection with the rest of the city centre by removing traffic from Westlegate
Simplify north-south vehicle access by making Golden Ball Street two-way
Thanks to the work already completed during phase 1 motorists already have easier access to the John Lewis car park, being able to turn in from either direction along Ber Street and on exiting with both left and right turns now allowed. And as Golden Ball Street becomes two way drivers approaching from the south will be able to take a simpler route to the Castle Mall car parks cutting out the former one way loop along Westlegate and Red Lion Street.
With Westlegate closed to general traffic work will start on the new pedestrian zone with a number of trees set to be planted over the next few months, and access for pedestrians and businesses will be retained at all times. And the section of Farmers Avenue from its junction with Red Lion Street to the entrance to the smaller Castle Mall car park will also be pedestrianised, this will be made possible by the rest of Farmers Avenue becoming two way. Red Lion Street will become available for buses, taxis and cycles only as is the case with St Stephens Street currently.
Cllr Steve Morphew, Chair of the Norwich Highways Agency Committee, said: “I’m really grateful for the help and patience of everyone during the current works. Thankfully there have been even fewer problems than anticipated. However the next phase could cause more delays so I ask everyone to bear with us while we carry out this work to build simpler faster routes for drivers and attractive spaces for everyone however they travel to the city.
“We are starting this next phase just before the Easter break which we know can be a busy time in the city so hopefully this will give people a few days to get used to the new road layouts before the bank holiday and plenty of time for the new system to settle down before schools go back after Easter. I ask people to please plan your journeys and allow extra time while the work is underway as everyone is having to adjust.”
The British Chambers of Commerce (BCC) has today (Friday) downgraded its UK GDP growth forecast, from 2.5% to 2.2% in 2016, and from 2.5% to 2.3% in 2017; for 2018, included for the first time in the forecast, GDP growth of 2.4% is predicted.
The downgrade is due to weaker than expected growth across most areas of the economy, reflecting a general global slowdown. Despite these issues, UK GDP is expected to expand at a moderate and relatively steady pace over the next three years.
Key points in the forecast:
UK GDP growth forecasts downgraded: to 2.2% for 2016 and to 2.3% for 2017
For 2018 – included for the first time – GDP growth of 2.4% is forecast
Downgrade due to weaker than expected growth across most areas of the economy, mainly reflecting a general global slowdown.
Lower than predicted actual growth in Q4 2015, and downward revisions of earlier ONS figures for the first three quarters of 2015, also contributed to the downgrade
Services and consumer spending will remain the key growth drivers of the UK economy
Quarterly UK GDP expected to grow by 0.5% in Q1 2016; thereafter, quarterly GDP growth is forecast to average slightly less than 0.6% per quarter from Q2 2016 onwards
First expected increase in official interest rates, to 0.75% in Q4 2016 – one quarter later than predicted in the previous quarter
Caroline Williams, Chief Executive of Norfolk Chamber of Commerce said:
“In the face of a slowing economy which can be seen in both Norfolk and nationally, and with further potential risks on the horizon, there is a case for sustained Government action to improve prospects for Norfolk business.
“Wherever possible, given very real fiscal constraints, the Chancellor must use his forthcoming Budget to bring forward road, rail, and digital infrastructure projects that would help Norfolk companies do more business. He must also avoid adding further to the long list of new business costs and taxes introduced over recent months, which impact on firms before they turn over a single pound and undermine investment.”
Dr Adam Marshall, Acting Director General of the British Chambers of Commerce, said:
“Our forecast should stand as a wake-up call. The UK’s economic performance is reasonably good when measured against our main competitors, but it’s only mediocre when compared against long-term trends. Our trade deficit remains too high, and is not forecast to improve substantially over the next three years. In turbulent times, a consistent focus on improving infrastructure, sweeping away barriers to business investment, and supporting exporters would be a real recipe for success.”
David Kern, Chief Economist at the BCC, said: “Though we have downgraded our growth forecast, UK GDP is expected to expand at a stronger pace than in most other G7 economies, and broadly in line with our long term trend. Growth will benefit from higher disposable incomes, low inflation and a strong labour market. Though services and consumer spending will remain the key growth drivers of the UK economy, our forecast envisages slower growth in these areas than we predicted previously.
“Weaker growth than previously expected in most UK sectors reflects a general global slowdown, which is due to lower productivity, adverse demographic trends and geo-political uncertainties. The worse net UK trade position that we are now predicting is mostly due to weaker global growth, but we do need to do more to boost exports.
“Worsening global trends will present the main dangers for the UK economy over the next few years. Given the unacceptable size of the current account deficit, failure to achieve a meaningful improvement in net exports will make the UK vulnerable to speculative attacks, and our credit rating could be at risk.”
Other elements from within the forecast:
Main components of demand
Annual average growth in household consumption is forecast to slow: from 3.0% in 2015 to 2.7% in 2016, 2.5% in 2017 and 2.4% in 2018.
In calendar-year terms, UK business investment growth of 4.5% is predicted in 2016, 7.4% in 2017, and 7.4% in 2018
In full-year terms, growth in real exports accelerated to 5.0% in 2015, but real exports fell in Q3 & Q4 2015. The new forecast is that real exports, in full-year terms, will grow by 2.3% in 2016, 3.0% in 2017, and 3.0% in 2018.
The real net trade deficit, having risen to 3.3% of GDP in 2015, is forecast to rise further to 3.7% of GDP in 2016; it will then edge down marginally to 3.6% of GDP in both 2017 & 2018.
Main sectors of the economy
Service sector output is forecast to grow by 2.6% in 2016, 2.7% in 2017 and 2.7% in 2018. The share of services in UK output is likely to rise further in the next few years and the sector will remain the biggest contributor to GDP growth.
Manufacturing output is expected to grow more slowly than services, by 0.5% in 2016, 1.4% in 2017 and 1.4% in 2018.
Total industrial output growth is forecast at 0.5% in 2016, 1.0% in 2017 and 1.0% in 2018.
Construction output growth is forecast at 0.5% in 2016, 2.6% in 2016 & 2.6% in 2018.
Official interest rates
The first increase in UK official interest rates to 0.75% is expected to occur in Q4 2016, one quarter later than previously predicted
Further modest increases in official interest rates can then be expected, in small 0.25% steps, with official interest rates reaching 1.50% in Q4 2017
Unemployment and productivity
The UK unemployment rate is forecast to fall from 5.1% in Q4 2015, to 4.9% in Q4 2016, 4.8% in Q4 2017 and 4.7% in Q7 2018.
Net fall in total unemployment of 101,000 forecast over the next 3 years.
Total youth unemployment (people aged 16 to 24) is expected to fall from 622,000 (a jobless rate of 13.6%) in Q4 2015, to 564,000 (a jobless rate of 12.1%) in Q4 2018, a net fall of 58,000.
Public finances
UK public sector net borrowing is forecast to fall steadily over the next few years.
But the official timetable for moving into budgetary surplus in 2019/20, outlined in the November 2015 Autumn Statement, is slightly too ambitious.
The UK is likely to return to balance in 2019/20, but a move into surplus is only likely in 2020/21.
Inflation and earnings
In annual average terms, annual CPI inflation is forecast at 0.9% in 2016, 1.8% in 2017 and 2.2% in 2018. In Q4 we predicted 1.1% in 2016 and 2.0% in 2017.
Total earnings growth (total pay including bonuses) is predicted to average 2.6% in 2016, 3.5% in 2017 and 4.0% in 2018.
The new forecasts for earnings growth are lower than those we made in Q4.
Norwich City Council have released their latest economic barometer. The report highlighted:
Nationally
Bank of England unanimously vote to leave interest rates on hold
ONS figures highlighted that the UK trade gap with the rest of the world widened by £1.9bn
UK economy grew at its slowest rate since mid 2013
The Markit/REC report highlighted a slight acceleration in growth of permanent staff placements
East of England
Confidence in the region’s commercial property market remained strong and rents are expected to rise across all sectors
UEA’s Low Carbon Innovation Fund (LCIF) invested more than £70m during the first round of funding. It has supported 45 SMEs across sectors including renewable energy, automotive, technology and creative industries
The Association of Business Recovery Professionals R3 warned that delayed invoice payments were impacting on the region’s manufacturers. 27% suffered from late payment in 2015
Norwich
NUA’s Ideas Factory Incubation Centre for digital creative businesses has now been officially opened. It offers specialist incubation environment which is designed for digital creative businesses.
Norse Group has been shortlisted for one of the European Business Awards’ top accolades – Ruban d’Honneur status.
A drug development business, Inspiralis, has expanded from the John Innes Centre to the Innovation Centre
The Egyptian-British Chamber of Commerce has issued a summary of the latest changes taking place in Egypt regarding new regulations to export goods.
In December 2015, the Customs Law has been amended by the Egyptian Ministry of Trade and Industry, and the following are now mandatory:
All shipments should be presented with a legalised Certificate of Origin and a certified commercial Invoice (we do recommend full legalisation by the Egyptian Consulate in London) ;
The invoice should comply with Article 8 of the Customs Law – name, address and phone of the producer are required.
This was followed by the Decrees No. 991 & 992/2015 where registration of 24 products that are exported to Egypt for the retail market only have to be registered at the General Organisation for Export & Import Control. Full list of products and necessary documents is attached. The application can be submitted online MailGate warning: numerical links are often malicious: https://41.128.145.154/
Central Bank of Egypt issued instructions to regulate the handling of export documentation in an attempt to reduce fraudulent valuation of invoices. Therefore the importation process whereby payment is via cash against documents can only be conducted by delivering the documents directly to the foreign bank (UK based), then the foreign bank delivers it directly to the local Egyptian bank. It is prohibited for any customer to him/herself directly receive delivered documents.
Also, Central Bank of Egypt issued instructions that banks shall obtain a security deposit at the rate of 100% instead of 50% under the documentary credits opened for financing the import of commodities for account of the trading companies or governmental bodies. All exemptions from this practice can be found in the full version attached.
On the 22nd of February Central Bank of Egypt amended the initial instructions (paragraphs C&D) to further exempt some companies and items related to Bank-to-Bank documents handling.
CBE’s instructions are not interfering in any way with the Ministry of Trade’s requirements of documents legalisation. Export documentation should still be submitted for certification and legalisation as in paragraph A.
For more information please see attached documents and hope these and the above clarify the current situation.
Plumstead Road, which is closed between Thorpe End and Little Plumstead, will reopen as soon as possible on Friday, 11 March, but this may not be until the evening.
The road has been closed to all traffic since 22 February for cable diversion and other preparatory work ahead of construction of the double bridge carrying Norwich Northern Distributor Road (NDR) over Plumstead Road and the Norwich to Sheringham railway. Recent difficult conditions mean that the work may not be finished until Friday evening, although every effort will be made to bring forward the reopening of Plumstead Road so that it is available for the evening journey home.
The reopening of Plumstead Road will be followed on Monday 14 March by the closure of the nearby Middle Roaduntilthe 25March. It will then reopen to allow the closure in turn ofSmee Lane, for up to two weeks from 28March, andLow Road, for up to two weeks from 11April. When Middle Road closes again in late April, this will be the start of the long-term closure for construction of the Middle Road bridge over the NDR.
On the western half of the NDR, the long-term closure of Drayton Lane begins on Monday 14 March. Holly Lane will provide the diversion route.Drayton Lane,which is a popular cut-through between Reepham Road and the B1149 Holt Road in spite of some sharp bends, is being completely realigned to provide a new route for Holt Roadtraffic to the NDR.
The current round of staffed exhibitions is now well underway. Over 500 people have attended the first three, at Postwick, Spixworth and Hellesdon, to view the plans, and to find out about the construction programme, traffic management and road closures, and environmental protection measures.
Over the next two weeks there are exhibitions (all 3pm to 7pm) at:
Thursday 10 March – Sprowston Diamond Centre, School Lane.
Friday 11 March – Drayton Bob Carter Centre, School Road.
Tuesday 15 March – Great Plumstead Village Hall, Church Road.
Wednesday 16 March – Rackheath Holy Trinity Church and Centre, Salhouse Road.
Friday 18 March – Thorpe St Andrew Dussindale Community Centre, Pound Lane.
Monday 21 March – Taverham Village Hall, Sandy Lane
Evander Direct are delighted to announce our membership to the Norfolk Chamber of Commerce. As a small department operating within the larger Evander Glazing & Locks company, our aim is to raise awareness of the fantastic products and services available, and to market these directly to the customer. Evander Direct is a relatively new creation proving to be a real success within the home improvement industry – customers nationwide now have the opportunity to enhance and upgrade their windows, doors, garages and home security in an efficient, affordable and relaxed fashion, with no pushy sales tactics or confusing jargon to contend with. Evander Direct’s approach – which includes a free survey and no obligation quoting service, not to mention the high quality products and materials used – is one which is preferred by millions of homeowners across the UK.
Evander Glazing & Locks has been trading since 1984, but Evander Direct has only been active since late 2014. In that time, we have transformed the direct customer journey and have coordinated a complete overhaul of the website and marketing channels. Our small team is excited to be a part of the Norfolk Chamber of Commerce, and we look forward to the various events and networking opportunities as we continue to develop and grow.
On Thursday 25th February 80 Norfolk Chamber Members joined us at Holiday Inn Norwich North for an extremely eye opening morning on the topic of Cyber Security.
Host Rachele Kelsall of Hugh J Boswell kicked off the morning, introducing featured charity The History of Advertising Trust and our networking ice breaker. Delegates enjoyed some relaxed networking on their tables before our first speaker took the floor.
Stuart Sullivan of SGS Legal first shocked delegates with some figures on the increase of cyber-attacks, stating 90% of large business and 75% of small businesses have suffered a security breach. He highlighted some recent case studies and common issues made by businesses and stressed the importance of businesses asking themselves questions on how they’re preventing these attacks.
Following the talk, delegates tucked into a full breakfast, with most tables continuing to discuss Stuart’s presentation. We then proceeded to mix our delegates up in our Safari Move, swapping them to different tables to make even more connections.
Lynsey Sweales of SocialB Ltd took to the stage next, asking delegates ‘If your business isn’t using social media you are safe from a social media disaster?’ She covered case studies on social media disasters from employees to businesses and demonstrated the damage that could be done to the business. Lynsey highlighted most importantly that social media is here to stay, we live in a digital age and tightening your restrictions on social media is key to avoid disasters.
With a quick Q&A, Rachele closed the event with thanks to all our attendees, leaving time for more in depth one on one discussions between delegates and our speakers.
UK export growth continued to slow at the end of 2015, with manufacturers in particular struggling, a report from the British Chambers of Commerce (BCC) and DHL has shown.
Export sales and orders across both manufacturing and services sectors fell significantly in the last quarter of 2015, according to the latest Quarterly International Trade Outlook.
The survey’s Trade Confidence Index, measuring the volume of trade documentation issued, fell by 2.5% on Q4 2014 to stand at 114.46 in Q4 2015 – a decline of 0.9% on Q3 2015.
Among manufacturers, the balance of firms reporting improvements in export sales over the previous three months fell from +10% in Q3 to just +1% – the lowest level since Q3 2009 – while export orders dropped from +10% to +1%.
Export growth also dipped in the services sector, where the sales balance fell three points to +15%, and export orders fell to +9% from +16% – the lowest level since Q4 2011.
The key findings from the report are:
The Trade Confidence Index, a measure of the volume of trade documentation issued nationally, fell by 0.9% on Q3 2015, and by 2.5% on Q4 2014 – the index now stands at 114.46 From the BCC’s survey, the balance of manufacturers reporting improved export sales fell markedly to +1% in Q4 2015 from +10% the previous quarter, and export orders growth fell to +1% in Q4 2015 from +10% in Q3 2015 The balance of services firms reporting improved export sales over the past three months fell to +15% in Q4 2015 from +18% in Q3 2015, and export orders growth fell to +9% in Q4 2015 from +16% in Q3 2015
Julie Austin, International Trade Manager, Norfolk Chamber of Commerce, said:
“Norfolk exporters have faced considerable challenges in recent months. Slowing growth in China and the US, along with the continued weakness in the Eurozone, have made it harder for firms to build momentum.
“While the rate of growth has dropped significantly, exports are continuing to grow – a testament to Norfolk businesses, particularly in the face of such global uncertainty.
“However, if we are to reverse our longstanding trade deficit then Norfolk firms need greater practical support – access to finance, a skilled workforce and good infrastructure connections – if they are to successfully break into new export markets, and this needs to be a national priority for the UK otherwise we risk being left behind in the global race.”
Phil Couchman, CEO, DHL Express UK, said:
“Some areas of the UK – in particular Scotland, the North East and Northern Ireland – are showing strong growth in export volumes. However, with most regions experiencing declining volumes and the UK’s trade gap recently reaching an all-time high, it’s more important than ever that we concentrate on supporting more British businesses to export.
“The UK’s relentless demand for imported goods means that we need to work hard to significantly boost exports and strike the right balance.
“As the UK focuses its efforts on exporting as a way of securing the future of our economy, DHL will continue to support businesses and ensure that more and more organisations feel comfortable in taking that first step overseas.”
Small and medium-sized manufacturers reported a further small fall in export new orders in the three months to January but have seen “a very slight improvement” in February according to the CBI’s latest Industrial Trends Survey.
Firms’ optimism about their export prospects for the year ahead rose significantly (+13%) in January, compared with a fall (-14%) in the previous quarter.
According to the February report, businesses still expect output to grow in the coming quarter, with 30% predicting growth, and 19% a decline, giving a slightly reduced balance of +11%.
Rain Newton-Smith, CBI Director of Economics, said: “Despite the turbulence in emerging markets, economies such as China still represent a huge opportunity for British industry. A National Exports Commission, bringing businesses, trade experts and politicians around the table to advise on the policies needed to boost our export performance, would support manufacturers in selling their goods to key markets around the globe.”
The February survey of 497 manufacturers found 10% of businesses saying that their export order books were above normal, with 28% below normal, giving a rounded balance of -19%.
February’s level was an improvement on the previous month (-22%), and around average (-20%).
Ms Newton-Smith called on the Government to tackle the UK’s “outdated Business Rates regime” in next month’s Budget and to support investment through increasing the scope of capital allowances.