Chamber News

A webinar is being organised by UKTI which will provide an overview of the export opportunities available to UK companies in the Kuwaiti Food and Drink sector, and to give an insight into the specific needs and expectations of the local market.

The State of Kuwait imports the bulk of the needs of the population of consumer goods, food and beverages. The Kuwaiti food retail market may not be the biggest in the region, however its profit margins remain healthy; with wholesalers expecting margins of 25% and distributors looking for profits between 10% and 15%.

The webinar is taking place on Tuesday 1 December 2015 from 13.00 to 14.00 (GMT) with guest speaker Mr Garry Walsh, Chief Executive Officer, Mezzan Holding Company who will cover:

• Kuwait’s Food aznd Drink Market
• Export Opportunities for UK Companies
• Tips and Recommendations
• Q & A Session

Please click here if you would like to book for this webinar

The latest figures from the Office of National Statistics showed that unemployment had fallen by more than 100,000 to its lowest level in over 7 years, while the number of people in work reached a record of 31.2 million. This is 419,000 more than the previous year and up by over 177,000 in the three months from July to September 2015.

Average earnings increased by 2.5% in the year to September, down by 0.3% from the previous month. The employment rate has reached 73.7%, the highest since comparable records in 1971. The youth unemployment rate fell to 14.2% in July to September 2015, compared with 16.0% in three months earlier.

Below is a table showing the latest job seekers allowance claimants over the last 3 months with a comparison to the same time last year:

Job Seekers Allowance Claimant Count

Local Authority

Oct 2014

Aug 2015

Sept 2015

Oct 2015

Breckland

1,070

679

639

624

Broadland

662

494

464

471

Great Yarmouth

1,851

1,416

1,475

1,462

King’s Lynn & West Norfolk

1,270

895

880

825

North Norfolk

662

475

482

466

Norwich

2,214

1,701

1,735

1,717

South Norfolk

768

575

573

571

Commenting on the latest labour market statistics, Caroline Williams, Chief Executive of Norfolk Chamber said:

“This is another strong set of labour market figures with employment rising, unemployment falling and inactivity declining.

“The further fall in youth unemployment is good news but it is still almost three times the national average. The Chamber’s recent Business and Education Survey highlighted ways to address this very issue, including reforming schools careers advice to put employer engagement at the heart of it, and embedding the soft skills employers value within the school curriculum.

“While the Norfolk and UK economy remains solid, we can’t rest on our laurels when the international background is becoming more uncertain. Norfolk businesses need stability, supported by low interest rates for the medium term.”

On Thursday 12th November, over 90 members joined us for a Business Breakfast at the Great Yarmouth Town Hall. The venue provided a great setting in the spacious Assembly Room where delegates networked over coffee and breakfast, followed by two presentations discussing the event theme; Trends in the Energy Industry.

In true chamber style, the morning kicked off with a networking activity that was sure to test how awake the delegates were and highlight the energy industry buffs as we got them to solve the Missing Vowel Quiz.

The event was hosted by the President of Great Yarmouth Chamber Council Andy Penman, who was passionate about the subject matter and content provided by our featured speakers Johnathan Reynolds, Nautilus Associates and Joanna Young, ScottishPower renewables.

Two great presentations were delivered by these industry experts, which are now available to view on the event page at your leisure.

Johnathan offered a local energy industry update, complete with some interesting and revealing statistics, whilst Joanna (having stepped in last minute to replace her colleague David Rowland), informed the delegates of the EA1 Offshore Wind Project which is rapidly progressing and subsequently creating many opportunities within the region.

We closed the event with a short Q&A, after which, many delegates took this opportunity to talk further with the speakers and get in some final networking to make those all-important contacts.

Here’s what some of the delegates tweeted about the event:

Excellent turn out at the @norfolkchamber breakfast at Great Yarmouth Town Hall. Very impressive venue. #ChamberNetworking

– Mark Watson (@MarkWatsonAKCJ) November 12, 2015

It’s a great #ChamberNetworking morning in sunny #GreatYarmouth @norfolkchamber @edpbusiness @carlagowing #Energy #Trends #EmploymentLaw

– Hatch Brenner (@HatchBrenner) November 12, 2015

Does this sound like something you’d like to attend? Book now for our next Great Yarmouth Business Breakfast on Thursday 21st January.

The latest Bank of England Agent’s summary of business conditions for November 2015 was released today.

The summary identified that activity had continued to grow solidly on a year ago but at a slower rate than earlier in the year. The slowdown has been most noticeable in manufacturing.

Weaker overseas demand growth and the strength of sterling has continued to weigh down on exports. This again has affected confidence of UK businesses particularly those in manufacturing.

Labour cost growth has remained modest. Pay pressures were reported to be building in some areas where recruitment difficulties were the greatest, such as professional services and construction.

To read the full report, please click here.

The British Chambers of Commerce Q4 quarterly economic survey (QES) is currently underway. As part of that survey, the Chambers are trying to understand just how much the business community is aware of the recent proposals for a new settlement for the UK within a reformed European Union.

David Cameron formally set out his demandsin a letter to the presidentof the European Council Donald Tusk on 10 November, stating that four objectives lie at the heart of the UK’s renegotiations:

• Protection of the single market for Britain and other non-euro countries
• Boosting competitiveness by setting a target for the reduction of the “burden” of red tape
• Exempting Britain from “ever-closer union” and bolstering national parliaments
• Restricting EU migrants’ access to in-work benefits such as tax credits

Mr Cameron hit back at claims by former Tory chancellor Lord Lawson that the four goals were “disappointingly unambitious”, saying they reflected what the British people wanted and would be “good for Britain and good for the European Union”. The Prime Minister also said: “It is mission possible and it is going to take a lot of hard work to get there.”

The Chamber’s QES can be completed online in less than 3 minutes, including the 2 additional questions asking for your thoughts on the UK’s EU Reform proposals. The survey deadline is 5pm on Monday 30 November 2015.

The original bridge over the A47 at Postwick will be closed to all traffic overnightfrom 8pm tomorrow evening (Thurs 12 November)until no later than 6am on Friday 13 November.

The closure is to allow traffic signal ducts to be installed as part of the major junction works that are scheduled for completion before Christmas.

Traffic will be diverted via the new bridge over the A47 and the Postwick Hub access roads. The A47 itself will not be affected beyond the normal restrictions through the Postwick road works.

Norfolk County Council apologises for any inconvenience this overnight closure will cause.

The British Chambers of Commerce (BCC) has issued a series of what it describes as provocative articles “challenging the cosy Westminster consensus” on a range of business and economic issues, including exports and trade.

“Bursting the bubble: 10 ways Westminster gets it wrong on business and the economy” pulls no punches in arguing for more intelligent – and more informed – debate on the big issues facing the UK.

The articles seek to undermine a range of myths that have taken hold in Westminster and Whitehall in areas including debt, productivity, bank finance, education, infrastructure, inward investment, the EU, energy, broadband and exports.

With regard to the last of these topics, the BCC tells Prime Minister David Cameron that his ambition to double UK exports to £1 trillion by 2020 will miss its target – by 14 years.

“Put simply,” it argues, “while Government support may have helped individual businesses succeed over the years, it has failed to move the dial on exports overall.”

Pointing to the fall in the UK’s share of world exports (now down to 3%) and the continuing increase in the trade deficit, the BCC makes clear that export support to date is not working.

British businesses simply do not perform as well in terms of exporting as their French and German counterparts. Of the five million companies in the UK, only one in five are exporters – compared with one in four in Germany.

Government should be focusing its activities on helping to open up markets for British business, the BCC recommends, and leave business-to-business trade promotion Activities to the private sector.

It also highlights that UK export growth will not happen without action closer to home: addressing infrastructure deficiencies and the skills gaps and ensuring that businesses of all sizes have the access to finance that they need.

New businesses will be able to get support and advice when a pop up enterprise centre opens next week in King’s Lynn. Staff from NWES will be on hand at the Pop-up Enterprise Centre to discuss what office space will be available to rent in the KLIC, along with information about how to book meeting and conference rooms. They will also be able to outline the business support that will be on offer at the KLIC.

The Borough Council of King’s Lynn and West Norfolk is working with NWES on the £5m King’s Lynn Innovation Centre (KLIC) which is currently being built on Nar Ouse Way. In the short-term, the services of KLIC, which is due to open in Spring 2016, will be offered temporarily in West Norfolk’s Council offices in Kings Court from Mon – Fri during business hours.

John Balch, Strategic Director at NWES said: “The centre in nearing completion but until you can step into the building itself NWES and its partners invite to you visit the Pop-up Enterprise Centre.”

West Norfolk Council Leader, Nick Daubney said: “Supporting economic development in West Norfolk is a key priority for us and we are delighted to be able to promote the new King’s Lynn Innovation Centre by hosting the Pop Up Enterprise Centre at our offices.”

Heather Garrod, President of West Norfolk Chamber Council said: “The KLIC will be able to support lots of fledgling businesses and will offer support and advice; mentoring and workshops; as well as access to financial support for local businesses in West Norfolk.”

The building of the KLIC is funded by £1.5m from the borough council; £500,000 from NWES; £2.5m from a Growing Places Fund loan; and £500,00 of Growth Deal funding from New Anglia Local Enterprise Partnership.

Rural communities such as South Walsham are set to benefit from improved broadband connection in 2016. Chamber member, WiSpire is preparing for a period of rapid expansion, following the recruitment of 6 new employees.

WiSpire uses church towers as a platform to deliver high speed wireless broadband internet to local businesses, schools and residents, in areas where broadband speeds can often be poor. The company is investing in upgrading the existing transmitters and providing extra capacity in its network, which will help support a significant increase in customer numbers. It will be targeting growth in areas such as South Walsham, Woodbastwick and Happisburgh.

Steve Maine, CEO of WiSpire said:“Other players say that market penetration in Norfolk is high and that fibre is cutting the mustard. In our experience this is not the case for rural communities. Our service will reach out to those not-spots providing much needed connectivity to those people who otherwise wouldn’t get it.”

Caroline Williams, CEO of Norfolk Chamber said:“One of the Chamber’s key campaign areas is to improve digital connectivity across Norfolk. For Norfolk businesses to compete on a level playing field with the rest of the UK, they need to have access to quality high speed broadband. Whilst the rollout of the Better Broadband for Norfolk is bringing hope to many Norfolk businesses, however the more rural areas are proving challenging and may take longer to receive upgraded broadband. Innovative organisations such as WiSpire can provide an excellent alternative broadband solution.”

According to the latest SME Trends Survey by the Confederation of British Industry (CBI), small and medium-sized manufacturers saw output fall in the three months to October, as both domestic and export orders dropped.

The survey of 434 smaller firms reported that output growth fell at the fastest pace since January 2013, with export orders doing even worse, having declined at their fastest pace since 2009.

CBI Director of Economics Rain Newton-Smith said: “As demand has fallen, especially in the face of a strengthening Pound, our smaller manufacturers have had a tough quarter, with orders and output volumes dropping. Manufacturers expect conditions to stabilise somewhat over the quarter ahead, but remain concerned about the outlook for demand.”

Business optimism fell for the first time since January 2013, as did optimism over export prospects in the year ahead.

Only 10% of firms reported an increase in export orders while 46% said they fell, giving a rounded balance of -35%. However, firms said that they anticipated that export orders would fall at a significantly slower pace (-8%) in the next quarter.

Calling on the Government to use the Comprehensive Spending Review to prioritise spending that supports skills and innovation, thus spurring a revival in productivity growth in the UK, Ms Newton-Smith said that innovation and technology are crucial to driving productivity.

The British Chambers of Commerce Quarterly Economic Survey (QES) is used by the Bank of England and the Chancellor to plan the future of the UK economy and over 7,000 businesses across the UK take part.

The last Norfolk QES results showed that growth in both the service and the manufacturing sectors in Norfolk had slowed over the last quarter. In particular, nearly all the key Norfolk manufacturing balances remained stagnant or fell, which painted a picture of prolonged, slow manufacturing growth. Businesses completing the previous Q3 survey, who represented 37% of the total East of England responses, reported a very limited increase in employment over the last 3 months, despite the reduction in Norfolk’s official unemployment figures. And both sectors continued to report difficulties in recruiting skilled staff. More telling was the falling employment expectation balances for both sectors in the coming 3 months.”

Has your business recruited more new employees? Are you expecting your exports to increase? Let us know by taking part in this important economic survey.

The survey takes less than 3 minutes to complete, so please take the time to input into this survey to ensure Norfolk has a voice. The survey deadline is 5pm on Monday 30 November 2015.

Complete the Online Survey now.

A full meeting of Norfolk County Council today (Friday 6 November) overwhelminglyre-confirmed that the council will provide the final funding (£10.4m)for Norwich Northern Distributor Road, completing a funding package to pay for the £178.95m dual carriageway running 20km from the A47 at Postwick to the A1067 Norwich to Fakenham Road.

Today’s Extraordinary Meeting was held to avoid being drawn into a potentially protracted legal process when the original Council decision (taken on 02 September) was challenged by the Wensum Valley Alliance.

The Council voted by55 to 7 to accept offers by the Department for Transport and New Anglia LEP of £10m each towards a £30.4m increase in the cost of the NDR. A Green Party amendmentbased ona revised routeoption between theA47 and A140 was defeated 55 to 4, with 3 abstentions.

Subject to final approval and the release of national funding by the Department for Transport, the contract for the work has been awarded to Balfour Beatty Civils. Preliminary work is due to begin on site within the next few weeks.

Cllr George Nobbs, Leader of Norfolk County Council, said:

“This was a decisive vote. Council clearly accepts that Norfolk needs the NDR, that it represents very good value for money, and that there should be no further delay. Members have had the chance to yet again consider the reports and arguments very carefully and have accepted that the rise in construction costs, although unwelcome, are still reasonable.”

Caroline Williams, Chief Executive of Norfolk Chamber of Commerce said:

“A confirmed start date for work on the NDR will be another positive step toward getting the improvements to Norfolk’s infrastructure which the business community has been calling for. The NDR is not just a piece of road, but the opportunity to unlock jobs and new homes for the city and surrounding area and a swift start on site will be welcomed.”