Chamber News

“As a freelance graphic designer I help lots of clients communicate to their customers/audience using a variety of media. Basically, if you having something to promote, say, publish, show off or share I can help you get the most from your print and/or digital media. I have 15 years experience and have worked for same very established clients, both locally and nationally (now internationally). I really enjoy the challenge helping my clients establish their brands, be competitive in their market place and look great at the same time.

I came across the Chamber of Commerce via a logo request for one of my clients. As a sole trader I’m realising how important it is to network as much as you can for both your business and for support. I’m gradually learning how many small businesses there are and the networks that join us all together. The Chamber is definitely a big part of that picture, so I’m excited about joining and taking part in as many events as possible.”

– Carl Gamble

• Bank of England (BoE) predict GDP growth of 2.7% in 2015, 2.5% in 2016 and 2.6% in 2017
• BoE predicts inflation at 0.1% in Q4 2015, 1.2% Q4 2016 and 2.0% in Q4 2017
• Average earnings growth is forecast at 2.5% in Q4 2015, 3.75% in Q4 2016 and 4.0% in Q4 2017

Commenting on the inflation report, published today by the Bank of England, Caroline Williams, Chief Executive of Norfolk Chamber said:

“The downgrading of the inflation forecast, together with the Bank of England’s indication that they are unlikely to increase interest rates until Q3 2016 will be seen as good news for Norfolk businesses. It will help provide the much needed stability for businesses to be able to plan and invest.”

Also commenting on the Bank of England report and related information, David Kern, Chief Economist at the British Chambers of Commerce (BCC) said:

“Although the growth forecasts are now lower for this year and next they still signal a relatively solid pace of expansion for the UK economy.

“Significantly, the Bank of England has downgraded its inflation forecast and taken together with a lower forecast for average earnings this suggests that the first increase in interest rates is unlikely to occur until Q3 2016.

“The Bank of England rightly highlights the growing international risks facing the UK. While it is disappointing that they now predict lower growth in exports, this is in line with our own recent forecast and surveys.

“These latest predictions indicate that the economy is growing at a reasonable pace but for it to rise further the focus now must be on nourishing growth and rebalancing towards net exports.”

Speaking at the BCC’s International Trade Conference on 03 November 15, John Longworth, BCC Director General said:

Our theme today is ‘Accessing High-Growth Markets’.

When we chose this theme, we had only one thing in mind: helping British companies do more business around the world. Across the Chamber of Commerce Network, I see companies of all sizes, selling their goods and services into the most unlikely of places.

I am constantly amazed at what these companies have achieved, often beating competition from other countries, or succeeding where others before them failed. Where companies are exporting they are doing well.

Chambers themselves, of course, were set up centuries ago to promote trade, so it’s not surprising that we count amongst our ranks Britain’s most prolific global traders. After all, it’s in our DNA.

THE SCALE OF THE CHALLENGE

As a nation, we have to be honest with ourselves.

The huge trading success stories we see in the Chamber Network are not representative of British business or the UK as a whole.

• The UK has too few exporting companies.
• The UK is slow to spot and exploit new markets. We’re even losing market share in a number of key growth markets around the world.
• The UK has problems with skills, infrastructure and access to finance that hinder export growth.
• And the UK – and its constituent nations – create support scheme after support scheme for business growth and exports, but few, if any, have the desired effect.

Yes, we have to be honest with ourselves – and acknowledge that, as a country, we are not living up to the national export challenge set by the Prime Minister back in 2012.

• Britain has had a trade deficit since 1998 – and this became four-and-a half-times larger by the end of 2014, at £34.5 billion. Yes, it’s true that he deficit has narrowed by £8 billion since 2010 – but this has been on the back of a standout performance by services alone.
• The UK has had a current account deficit since 1984. It’s now 57 times as large as it was then, at nearly £93 billion. Since 2010, the current account deficit has more than doubled, as income from overseas investments has reduced and it is indicative of the quality and volume of both inward and outward investment.
• Even though the value of UK exports to non-EU countries has increased by 25% over the past five years, compared to just 6% for exports to the EU, we have not moved quickly enough to seize opportunities in the new markets.
• By British Chambers calculations, we’re 14 years behind meeting the target of £1 trillion in annual exports, despite standout performances by so many individual companies.

And our latest Quarterly International Trade outlook – which we publish together with our friends and partners at DHL – is showing that export sales, orders and overall confidence are well down on levels seen in the past few years.

So the challenge remains huge. Yet so, too, does our determination to address it – And this, I hope, is the start of the fightback.

DOING THINGS DIFFERENTLY

To rise to this challenge, we as a Chamber Network, are working differently – based on our determination to build a sustainable, business-to-business support network to help companies achieve their trading aspirations around the world.

Our determination to make a difference is so great that we have spent the past four years radically changing the way we work.

We have agreed that all UK Chambers that they will provide or procure a comprehensive set of export and trade-related services, based on the business export journey.

The BCC measures the performance of UK Chambers on International Trade services through a strong, focused Accreditation Standard, to give customers confidence in the services provided.

But change in the UK, is only half of the story. We have also spent the past three years building a new pathway to help UK businesses into new markets – and support them once they get there.

The result is our Global Business Network – a vibrant, growing Network of British Chambers and Business Groups in high-growth markets across the world.

Many of our colleagues from the Global Network are here, with us, today. Together, we share the goal of building a bigger “pipeline” of UK companies seeking to grow in cities and countries all across the world.

Now – for the first time – a manufacturer from Birmingham, Bradford or Bristol can get top-notch support and advice from a British Chamber the minute it lands in Bangkok, Beijing or Bucharest.

For the first time, a company from Swansea, Stirling or Sunderland will get contacts and support in Singapore, Santiago De Chile or Sao Paulo from a trusted source.

We know companies here in the UK want a bespoke service. Each firm has different needs, different objectives and different financials. So our Global Business Network will have to deliver real value to each and every customer.

What sets us apart, is our ability to provide a bespoke service to thousands of SMEs, based on our shared experience as Chambers of Commerce.

We know that this approach will be highly complementary to the role that government can play in supporting exports. Government is great at helping businesses close deals overseas, and at free trade deals.

Our Global Business Network can, and will, help take more of the load supporting British SMEs, offering a bespoke, ‘butler’ service.

When it comes to today’s theme, “Accessing High Growth Markets”, there is no better partner for a British business, taking its first steps – either into export or into a new market.

The scale of challenge facing Britain today is huge.

In truth, we stand at a fork in the road. And we have to face some pretty big questions.

• We face choices about the structure of our economy. Will we continue, our unsustainable binge of consumer and Government spending – or will we make the tough choices and fix the fundamentals, a choice that would lead to more investment and global trade?
• We face choices about our membership of the European Union. Chamber members have different views on this, once-in-a-generation debate, but all want an outcome that sees the UK in the best position to trade both; close to home and further afield. But businesses, have the right information to make their own choices about this?
• We face choices about were to focus our business growth efforts in an ever-changing world economy. Should we choose between developed countries, BRICS and new emerging markets? Or can we choose to ‘Dial up the Volume’ in each and every one?
• Above all, we face choices when it comes to culture and outlook. Will we choose to celebrate and build on the achievements of our small-but-perfectly-formed manufacturing sector and our status as a Global Services Superpower? Will we offer enough support to our amazing global businesses so that they can go even further – and restore our reputation as a great trading nation?

Some of these questions can only be answered by Government, or in the case of the European Referendum, by the British people.

But on that very last question – will we offer enough support to our global businesses – I can speak for the British Chambers and the Global Business Network and say: WE CAN – AND WE WILL.

We are at the start of something truly special – a Network of British business, by British business, for British business, working together across the globe to boost the prospects for companies of every size, shape, sector, region, or nation.

I look forward to the day that “Accessing High Growth Markets” is no longer an appropriate subject for a conference like this one – because we are doing such a great job linking businesses to opportunities, that winning new orders across the globe is just another part of the day job.

We all have a role to play in making this happen. Government must fix the fundamentals here at home, use its own global network to spot the next wave of opportunities, and make sure that British trade is not saddled with unnecessary costs and barriers, whether in the UK or markets overseas.

Businesses must put global opportunities higher on their own priority lists, and build a culture where risks are taken not just here at home but in markets around the world hungry for British products.

And we, as a Global Business Network, will be there to facilitate trade, and help companies develop and succeed in their own particular journey to export success.

I look forward to the day when we are no longer 14 years behind our export growth target, but achieving new records year on year. It will be a marathon, not a sprint. But in a competitive world, it’s a goal we must achieve.”

As businesses across Norfolk and the rest of the UK gather in London today discuss opportunities for export growth, a report from the British Chambers of Commerce (BCC) and DHL reveals a drop in both export growth and confidence among UK exporters.

Export sales (+7) and orders (+3) balances have fallen to their lowest levels in over six years, according to the latest Quarterly International Trade Outlook.

While export orders have remained constant for just over half (54%) of UK businesses, and 50% report that export sales have remained the same as in the previous quarter, both have fallen to their lowest level since Q2 2009.

The latest quarterly report coincides with the BCC International Trade Conference in London today, which focuses on providing UK businesses with practical support and guidance to identify and break into high-growth markets overseas.

The report also finds that confidence in expectations over turnover and profitability have worsened, with 13% reporting that they expect a fall in turnover (from 7% in Q2), and 16% expecting a fall in profits (from 11%).

The key findings from the report are:

• The Trade Confidence Index, a measure of the volume of trade documentation issued nationally and business’ confidence, fell by 4.6% on Q2 2015, and by 1.2% on Q3 2014 – the index now stands at 115.53
• Scotland was the only part of the UK to see an increase in quarter-on-quarter trade performance (+2.2%) – the biggest declines were in Wales (-13.3%), London (-7.8%), and Northern Ireland (-7.4%).
• The export sales (+7) and orders balances (+3) have fallen to their lowest levels since Q2 2009, in part due to economic uncertainty around emerging markets and ongoing problems in the Eurozone.
• The number of businesses operating at full capacity rose from 34% in Q2 to 39% in Q3
• 50% of businesses report export sales have remained constant, 21% report a decrease (up from 15% in Q2).
• 54% of businesses report export orders have remained constant, 22% report a decrease (up from 17% in Q2).
• 13% of exporters say that they have seen a decrease in investment in plant and machinery during the previous quarter.

Julie Austin, International Trade Manager at Norfolk Chamber said:

“Norfolk’s has many successful SME businesses who could benefit from exporting. However they need practical help and advice to give them an edge over their global competition. That’s why Chamber network is building a Global Business Network to help UK companies take their first steps into new markets, with business-to-business help with the real-world challenges that exporting can generate.”

John Longworth, Director General of the British Chambers of Commerce, said:

“Driving export growth is key to reducing the UK’s deficit and maintaining our global competitiveness. These figures make it clear that the UK’s export drive is at risk of going into reverse gear, precisely at the time when it needs to be moving forward.

“Many firms are currently operating at capacity and are in need of support to invest in machinery or staff. Those businesses considering taking the leap and breaking into new markets desperately need access to the growth funding and working capital to enable this transformation.

“Success in export is all about having the right market information, and the right fundamentals – access to finance, a skilled workforce and good infrastructure connections.”

Phil Couchman, CEO, DHL Express UK, said:

“We can mostly attribute the drop in export orders and sales to uncertainty in the Eurozone, and the instability of the Chinese and wider global economy. Despite these factors, we must remember that UK businesses are resoundingly resilient. Whilst the overall index has fallen, over half of businesses say export orders have remained constant – and half say export sales have too.

“We would encourage businesses not to let the latest figures knock their confidence in the export market. There is enduring high demand for British products across the globe and businesses should capitalise on the opportunities this demand brings.

“Whilst the movement in currency represents a challenge for many exporters, DHL remains confident in the underlying UK export market and will continue to support UK SMEs in expanding their businesses internationally, to help them to reach their full potential in the global marketplace.”

George Osborne has insisted Britain can get the “best of both worlds” out of its EU renegotiation. He said the UK could get the benefits of the single market but not the “burdens” of bailing out the eurozone. The chancellor is in Berlin to set out the UK’s economic demands ahead of a planned in/out referendum. German leader Angela Merkel said Britain’s demands could be met “where justified” or opt-outs offered.

Opposition parties said the powers Mr Osborne was requesting already existed and called his trip to Germany a “meaningless publicity stunt”.

Setting out his priorities, the chancellor said: “This is about people’s jobs and people’s wallets. It’s about making sure jobs don’t leave Britain because we’re not in the euro. It’s about making sure the costs of the euro aren’t imposed on British taxpayers.

“And it’s about writing that into the law of the land. I think we can do that. And I think that will be absolutely crucial – that deal – to the outcome of the referendum. And we can get the best of both worlds.”

‘Make euro work’

He denied suggestions from German sources that his renegotiation was a game that the Germans were happy to play along with, saying: “this deal is going to be absolutely crucial to the outcome of the referendum”.

He added: “The deal to be done with countries like Germany or indeed France is this: We’ll help you make the euro work better for you and for us, because we suffer when the euro doesn’t work.

“In return, you make sure that Britain’s interests are properly respected, that we don’t bear the costs and burdens of things that go wrong in the euro, that jobs aren’t lost from Britain because we’re not in the euro. That’s the deal on the table and I think it works for all the countries involved.”

Asked if he could imaging calling for the UK to leave the EU, if he did not get what he wanted, he said: “We don’t rule anything out.”

Asked if he thought a new EU treaty would be needed to accommodate Britain’s demands, he said: “Well I do think the changes we are seeking will require treaty change, how that is delivered and when that is delivered is of course subject to the negotiation.”

‘British must decide’

The chancellor fears Britain could be kept out of decisions on single market laws that will have an impact on its economy as integration between the 19 euro member states intensifies. He has said the UK will not stand in the way of further integration but, in return, wants safeguards for countries like the UK, which will remain outside the eurozone.

In a speech to the BDI, the Federation of German Industries, he said the EU must accept that the single market has more than one currency and that it “should not discriminate against any business on the basis of the currency of the country in which they reside”.

And he added: “We must never let taxpayers in countries that are not in the euro bear the cost for supporting countries in the eurozone.” He said the new principles “must ensure that as the eurozone chooses to integrate it does so in a way that does not damage the interests of non-euro members”.

German Chancellor Angela Merkel said she wanted Britain to remain a member of the EU but “in the end the British have to decide”. The only promise we can make is this: Wherever their demands are justified, more competitiveness, more effectiveness in the EU, the British demands are our demands too.

“Of course we won’t be able to agree on everything, we have always found possibilities for opt-outs, and the Europe of today is not a one-speed Europe. For us there are many reasons to keep the UK in the EU and we will do everything we can to make this happen.”

Commenting on the chancellor’s visit to Germany, Caroline Williams, Chief Executive of Norfolk Chamber said: “Many businesses will listen to what George Osborne has to say in Germany with interest and many Norfolk business will have already made their decision, as to which way they will vote in the EU Referendum. However there is a large proportion of the Norfolk business community who will chose which way to vote, dependent upon the level of concessions agreed within the renegotiated package.

“As the Government renegotiates Britain’s position in the EU, we will continue to monitor and listen to the Norfolk business community as it is essential that the business community does influence the government’s agenda, so do let us know your views”

‘Ever-closer union’

Another crucial demand for the UK is the ability to opt-out of the EU’s commitment to “ever-closer union” between member states, which dates back to the 1957 Treaty of Rome. Mr Osborne told German business leaders British people “do not want to be part of an ever-closer union”.

He stressed the British government’s desire to stay in a reformed EU but added: “It needs to be a Europe where we are not part of that ever closer union you are more comfortable with. In the UK, where this is widely interpreted as a commitment to ever-closer political integration, that concept is now supported by a tiny proportion of voters. I believe it is this that is the cause of some of the strains between Britain and our European partners.Ever closer union is not right for us any longer.”

‘Publicity stunt’

Mr Osborne’s visit to Germany comes as the UK government “steps up the pace” of renegotiation talks ahead of an in/out referendum promised by the end of 2017. Prime Minister David Cameron will next week set out Britain’s demands in full in a letter to European Council President Donald Tusk.

UKIP leader Nigel Farage accused the chancellor of “sycophancy” towards the EU, saying his address to the BDI “sounded more like a speech from an EU commissioner”. He said “Mr Osborne had not mentioned the principle of free movement of people, getting back powers from Brussels and reducing the UK’s contributions to the EU.”

Labour’s shadow chancellor John McDonnell branded Mr Osborne’s trip a “meaningless publicity stunt”, saying the powers of veto he is demanding already exist. These conditions are all straw men that the chancellor wants to then knock down and claim victory to a home audience,” he added.

The team charged with putting the case for Norfolk and Suffolk having greater control over local finances and decision-making is due to meet Government representatives, including Lord Heseltine, in London tomorrow (4th November).

Representing all of Norfolk and Suffolk’s 16 councils and New Anglia Local Enterprise Partnership (LEP), the ‘Challenge Session Team’ is made up of:

• Cllr. George Nobbs, Leader, Norfolk County Council
• Cllr. Andrew Proctor, Leader Broadland District Council and also deputising for Cllr. Nick Daubney, Chairman of the Norfolk Public Sector Leaders’ Group
• Cllr. Alan Waters, Leader, Norwich City Council
• Cllr. Colin Noble, Leader Suffolk County Council
• Cllr. David Ellesmere, Leader, Ipswich Borough Council
• Cllr. Jennie Jenkins, Chairman of the Suffolk Public Sector Leaders’ Group
• Mark Pendlington, Chairman of New Anglia LEP.

This team has been charged with outlining initial thoughts on what devolution could mean for the two counties following proposals drawn up by all of Suffolk and Norfolk’s 16 councils and New Anglia LEP and to answer any challenges and questions put to them by senior civil servants and headed by Lord Heseltine.

The discussions will set out the areas over which the councils and the LEP would like more local control with the aim of boosting economic prosperity and social cohesion. Long-term infrastructure and transport funding, plans to kick-start more housing projects and a focus on productivity, are some of the ideas up for discussion, as are greater control over youth and adult skills and more joined up health and care services.

At this stage, the main focus for the team is on the powers the partners would like to have from Government, rather than the structures in which those powers would be delivered. Any final deal document would need political and democratic sign-off by all 16 councils and New Anglia LEP.

Mark Pendlington, Chairman of New Anglia LEP:

“Our devolution plans focus on the three key elements that businesses across our two counties highlight time and time again – greater certainty and local control over skills provision, infrastructure, from roads and rail to broadband and mobile connections, and business funding and support. More freedom and flexibility over these areas will bring greater benefit to our local economy, boosting jobs, productivity and our inward investment opportunities.”

Cllr.George Nobbs, Leader of Norfolk County Council:

“The devolution deals for Greater Sheffield and the North East are beginning to give an idea of the government’s thinking. Both are benefiting financially from their deal and both are roughly the same size economy as that of the combined Norfolk/Suffolk bid. We in East Anglia are in a good position to make a compelling case for greater devolution to drive economic growth and support job growth in the two counties.”

Following the challenge session there will be further discussions with Government before further details will be submitted to Government in the period leading up to the Comprehensive Spending Review. If proposals are accepted the issue of how any new powers will be structured will then be considered in more detail including formal consultation with stakeholders.

Norfolk MP George Freeman has advised that he is seeking support to upgrade the Norwich to Cambridge rail line into what he terms as the ‘Innovation Express’. The Innovation Express should include wi-fi; smart trains; e-ticketing; bike racks at the stations; and a half hourly service. He outlined that a better service between the two cities could potentially bring further investment into our region and that he will be discussing the idea with Patrick McLoughlin, the Transport Secretary when he meets him later this year.

Mr Freeman, MP for Mid Norfolk, said: “Norwich and Cambridge are two world class centres in technology and innovation and in any other advanced economy the rail service between these centres should be frequent, fast and high quality, with modern and well equipped stations.”

Caroline Williams, Chief Executive of Norfolk Chamber said: “Norwich has a thriving digital creative sector and is a Tech-City. We are also the base for the world-renowned Norwich Research Park. Therefore, it is important that Norwich and Norfolk are well connected to allow our businesses to compete on a level playing field with the rest of the UK. Having good infrastructure links is vital and Norfolk Chamber wholeheartedly supports Mr Freeman’s calls for an ‘Innovation Express’ for our rail links between Norwich and Cambridge.”

Mr Freeman outlined the improvements that he wanted to see be:

• Faster delivery of the doubling of the Ely North Junction – work that would be crucial to any line enhancements.
• Faster delivery on the upgrades at Ely station to Ely North Junctions
• The doubling of the Trowse Swing Bridge
• An increase in line speeds between Norwich and Ely to 90mph or 100mph
• The delivery of the Felixstowe to Nuneaton and Norwich to Ely electrification
• An improvement to the day-to-day infrastructure performance to improve punctuality
• A half hourly services between Norwich to Cambridge

He also called for further improvements such as train refurbishments to include wi-fi and plug points and improvements to stations along the line.

Hear a quick policy update from Adam Marshall, Executive Director of Policy & External Affairs at the British Chambers of Commerce (BCC). Adam outlines the three key things that the British Chambers of Commerce want to see in the Spending Review, which will be outlined by the Chancellor, George Osborne in a month’s time.

Norfolk County Council’s partnership with BT has given 185,885 mainly rural homes and businesses access to fibre-enabled broadband, ahead of schedule and under budget.

Originally due to finish this December, it was announced today (Friday, 30 October) that the first Better Broadband for Norfolk (BBfN) programme contract completed three months early, reached more properties than anticipated and made significant savings.

More than 80 per cent of households and businesses in the county can now buy a superfast broadband service (24 Megabits per second and above), nearly double the number who could receive these speeds three years ago before the BBfN programme got underway.

The money saved as part of the first contract will now be reinvested in the next phase of the BBfN programme, which is due to bring faster broadband speeds to even more remote parts of the county. Planning work is already underway and the first services are due to be available from December 2015.

The first areas set to benefit from the second BBfN contract are parts of Burgh St Peter, Barnham Broom, Barford, Bawdeswell, North Creake, Dereham, Ashwellthorpe, Bradwell, Gorleston, Great Yarmouth, Shropham, Hanworth, Starston, Harleston, Hickling, Sea Palling, Thuxton, Cawston, Bradenham, Southrepps, Gunthorpe, Ridlington, East Ruston, Weasenham St Peter, Little Fransham, Topcroft, Woodton and Wymondham.

Faster broadband services for these areas are set to become available by the end of March 2016.The new roadside fibre broadband cabinets serve very localised areas, usually parts of towns and villages rather than whole communities.

Caroline Williams. Chief Executive of Norfolk Chamber said:

“The early completion of the first Better Broadband for Norfolk programme is very good news for our region. However to ensure that Norfolk businesses can be truly competitive on both the national and global stage they need to have access to even better superfast broadband. We also need to see the majority of Norfolk businesses being able to access to superfast broadband in the city, the market towns and the rural villages.”

George Nobbs, Leader of Norfolk County Council, said:

“Improving the broadband reach across the county is absolutely vital to our twin ambitions of improving infrastructure and creating real jobs. It makes Norfolk more attractive to relocating businesses and supports Norfolk’s growing hi-tech business sector. It also helps flexible and home working to reduce business costs, and supports our population gaining skills, accessing services they need and staying connected to the wider world.”

Digital Economy Minister Ed Vaizey said:

“Our rollout of superfast broadband across Norfolk has been a tremendous success so far, reaching more homes and businesses than originally forecast and finishing the first stage three months earlier than planned. The next stage will see even more properties get access to superfast broadband and I congratulate Better Broadband for Norfolk on their excellent progress to date.”

The original BBfN contract was signed in December 2012 after the council pledged a total of £15 million to the scheme. This was matched by the Government and BT made an £11 million contribution in Norfolk towards the cost of installing the fibre infrastructure in addition to covering the ongoing costs of supporting and maintaining the network. In Norfolk a £17.9 million deal to extend the original BBfN programme was signed by Norfolk County Council and BT earlier this year, funded by the Government, New Anglia Local Enterprise Partnership, Norfolk County Council and BT. Once installation work on both the first and second contracts is completed, it is expected that coverage of fibre broadband will reach 90 per cent of Norfolk premises.

And even more investment is planned. An extra £7m has been committed by five of Norfolk’s district councils – Breckland, Broadland, King’s Lynn and West Norfolk, North Norfolk and South Norfolk – and central Government to help Norfolk further contribute to the Government’s national target of making high-speed broadband available to 95 per cent of UK homes and businesses by the end of 2017. In addition, around £5.3m has been made available by BT as a result of Norfolk’s success in delivering higher than expected fibre broadband take-up from local households and businesses.

The high-speed network installed by BT’s local network business, Openreach, is available on an open, wholesale basis to all communication providers, therefore offering Norfolk households and businesses the benefit of real choice from a highly competitive market.

People can check whether their home or business can receive superfast broadband by visiting the Better Broadband for Norfolk website which is updated as new broadband services become available.

The responses from Norfolk businesses in the last quarter (Q3 2015) represented 37% of the total responses provided by the East of England. This was an increase of 7% on the Q2 response rate. The more businesses that take part – the louder the voice of the Norfolk business community will be.

The British Chambers of Commerce, together with the accredited Chamber Network, including Norfolk Chamber, run Britain’s most influential private business survey – the BCC Quarterly Economic Survey (QES).

The next fieldwork period for the QES will start on Monday 09 November 2015 and will be open for 3 weeks. But why should your organisation take part? Below are just a few of the reasons why you should take part in this important economic survey:

1. The QES is Britain’s biggest, and longest-running, private business survey.
2. It’s provided consistent data since 1989, and regularly receives over 7,000 business responses. Compare that to the average business survey, which garners a few hundred responses.
3. Norfolk responses represent 37% of the responses from the East of England. (East of England includes: Norfolk, Suffolk, Cambridgeshire, Essex, Hertfordshire and Bedfordshire).
4. It’s a leading indicator – often picking up big changes in the economy long before other surveys or official statistics.
5. The Bank of England’s Monetary Policy Committee uses the QES as one of its key benchmarks when setting interest rates.
6. HM Treasury and the independent Office for Budget Responsibility use the QES to put together their forecasts for the UK’s economic performance.
7. The European Commission uses the QES to assess the health of the UK economy when it makes policy recommendations for both Westminster and Brussels.
8. The Organisation for Economic Cooperation and Development (OECD) and the International Monetary Fund (IMF) use the QES when comparing the UK to competitors worldwide.

Details of the Norfolk QES results from Q3 2015 can be found on the Policy Section of the Chamber website. Historic Norfolk QES results can also be found in this location.

So what can your business do to contribute to the QES? During the fieldwork period, the survey can be completed electronically. There are several ways to access this online survey either:

• Visit the Chamber website under the QES section
• Use the link within the Chamber Policy news article
• Use the link that the Chamber can send direct to you

To be added to the Chamber’s QES email list, please contact Nova Fairbank or Jack Edwards by no later than lunchtime on Friday 06 November 2015. Emails: nova.fairbank@norfolkchamber.co.uk and jack.edwards@norfolkchamber.co.uk.

The online survey takes less than 3 minutes and your input is vital to help ensure that Norfolk business has a strong collective ‘voice’.

The British Chamber of Commerce in the Czech Republic along with Deloitte and UKTI are holding a webinar which will focus on opportunities related to M&A in industrial manufacturing in the Czech Republic.

The topics to be covered:

• Why is the Czech manufacturing sector attractive for UK companies
• How can UK companies access it (greenfield vs. acquisitions)
• What is the typical industrial M&A deal rationale
• How to structure a deal in the Czech Republic
• Case studies of industrial manufacturing deals

The webinar will take place on Wednesday 4 November 2015 at 10.00am (UK time).

For more information and register please click here

Ahead of the Chancellor’s Spending Review and Autumn Statement announcement on Wednesday 25 November, the Norfolk Chamber of Commerce with the British Chambers of Commerce (BCC) is urging the government to fix the deep-rooted structural issues facing the UK economy.

While the Norfolk economy continues to grow at a good pace, the slightly weaker numbers recorded in the BCC’s latest Quarterly Economic Survey, combined with major uncertainties over China and a continued weakness of the eurozone, are a stark reminder that the Norfolk’s economy remains in need of care and encouragement. Business wants three structural issues to be at the heart of the Spending Review:

• Fixing a dysfunctional business finance system
• Delivering business infrastructure fit for the modern age, including promised investments in road and rail schemes, long term energy security at lowest cost and upgrading our digital infrastructure
• Closing huge and worrisome skills gaps, to help young people succeed in tomorrow’s workforce and enable businesses to compete on the global stage

Caroline Williams CEO Norfolk Chamber, said:

“For decades, successive governments have created and disbanded a raft of business support programmes. The limited resources at the Chancellor’s disposal should target the structural issues that are holding us back – in training, infrastructure and finance.

“Norfolk Businesses broadly support the devolution of powers to local areas in England. If done properly, it can drive greater efficiency, accountability, and better results. However devolution must be done for sound business reasons, and not just for political gain. All devolution proposals should have a test, measuring their impact on businesses, before they are taken into legislation. There should be no business taxation without representation.”

The British Chambers of Commerce (BCC) has written to the Chancellor and set out what they see are the fundamental issues which reflect those of the Norfolk Chamber. See submission here

The BCC’s Spending Review submission outlines a business blueprint for the role of the state, and recommends that central government spending prioritises three areas:

• Delivering fundamentals outlined above, that are vital to supporting growth and productivity, including infrastructure, skills, and a stable tax system
• Intervening where market failure exists, such as improving regulatory oversight to support growth and accepting a role for the state in addressing structural issues such as access to finance
• Facilitating the development of markets that are vital to our economic future, including critical intervention in science and research, which underpin tomorrow’s business prospects

John Longworth Director General of the BCC said:

“Given that some areas of expenditure are ring-fenced, the challenge of delivering the remaining £20bn of fiscal consolidation must not be understated, and our ability to generate sufficient tax receipts has been hit hard by the recession.

“Businesses do support a leaner state overall. However it is unacceptable that programmes that do little to boost UK output are being protected at the expense of capital investment, the maintenance of key infrastructure assets, investment in skills and business access to finance. Fixing our productivity problem requires significant investment in people and infrastructure. Anything less and we will struggle to put our economy on a strong footing.”

Specific measures in the BCC submission include:

• Additional funding to clear the backlog of local road maintenance. A functional road network would result in fewer business hours lost queuing in roadworks and congestion (£1.4bn pa in additional spending)
• Safeguard the upgrades to the UK’s railway network (safeguarding £7.6bn pa budget)
• Ensure that any “national infrastructure plan” investment does not contribute to the debt target, meaning that central government expenditure is not burdened
• Invest in ultrafast broadband, including taking the lead in the introduction of 5G technology (£375m pa in additional spending)
• Improve HMRC service to business by match-funding investment in tax avoidance with investment in support and advice (£160m pa in additional spending)

Real terms protection of science and research budgets, and measures to protect IP, and translate this into practical application for the benefit of British business and the UK economy (safeguarding £4.9bn pa budget)