Annual CPI inflation in May 2014 was 1.5%, down from 1.8% in April
The largest contributions to the fall in inflation came from a fall in airfares, food, non-alcoholic drinks and clothing
These were partly offset by upward contributions from motor fuels, recreation and culture
Goods price inflation in May 2014 was 0.9%, while services inflation was 2.2%
Commenting on the CPI inflation figures for May 2014, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC) said:
“The continued fall in inflation below the 2% target is good news for businesses and consumers, and supports our calls for the MPC to avoid jumping the gun on interest rate rises. Although the unstable situation in Iraq may put upward pressures on energy costs, all domestic influences point towards continued low inflation.
“While there may be a case for official interest rates to start edging up in early 2015, interest rates must remain on hold for the foreseeable future to reassure businesses. To secure a lasting recovery the government should continue to provide further measures in key areas such as improving access to finance for growing firms, and supporting UK exporters.”
Largest Round 3 Offshore Wind project to be consented in the UK and the first to be consented in English and Welsh waters.
Three years of construction and 20 years of operations and maintenance could deliver £500m for the regional economy
Project could generate enough power to meet the equivalent annual electricity demands of approximately 820,000 homes
The 1200MW project could see construction begin in 2017 with first power exported in 2019
East Anglia One Offshore Wind , a joint venture between ScottishPower Renewables and Vattenfall, has today received consent from the Department for Energy & Climate Change for a 1200MW offshore windfarm off the coast of East Anglia, the largest renewable energy project ever to receive planning consent in England and Wales.
The East Anglia ONE project is also the first in England and Wales to be approved from the Crown Estate’s Round Three Process.
The planned development is for up to 240 wind turbines to be installed across an area of 300km2 in the southern North Sea. The project could power the annual electricity demands of around 820,000 homes*.
It is anticipated that the development, the first of six potential projects in the East Anglia Zone, could support up to 2,700 jobs across the UK during the construction phase, representing more than £170m for the UK economy for each year of construction. More than 1,600 construction jobs could be supported in the East Anglia region alone, adding over £100m to the regional economy annually during construction.
East Anglia Offshore Wind will now accelerate its contact with the supply chain and detailed negotiations will also take place to determine the Ports which could support the project. Following a final investment decision, it is anticipated that onshore construction could begin in 2017, with offshore work starting in 2018 and first power generation achieved in 2019.
ScottishPower Renewables and Vattenfall expect that up to 170 engineers and technicians would be required to provide operations and maintenance support for the project once completed. These jobs could be required for more than 20 years , potentially adding over £10m to the local economy on an annual basis.
In total, for the three years of construction and 20-plus years of operation for East Anglia ONE the region’s economy could be boosted by £500m and see nearly 1,800 jobs supported or secured.
During the planning process alone, more than £15m of contracts have been awarded to local companies working on the project and a £17m contract was awarded to Wood Group of Aberdeen for the construction and installation of weather monitoring masts.
Keith Anderson, CEO of ScottishPower Renewables, said:
“This is the largest renewable energy project ever to receive planning consent in England and Wales, and it is a significant achievement to see our plans approved, and an important step forward towards a final investment decision. Our project team has spent more than three years planning the details of this project, and consulting widely with communities and stakeholders across the East Anglia region.
“We will now take forward our discussions with the supply chain as we work towards unlocking the significant economic potential of the project. East Anglia ONE could support thousands of skilled jobs in construction and operation, and make a positive impact on the local and national economy for decades to come.
Gunnar Groebler, head of Vattenfall’s Continental/UK renewables division, said:
“The UK is a world leader in offshore wind and if it is to maintain that position it must continue reducing costs if the sector is to have a long term future. The investment in competitive UK and regional supply chains is essential to cost reduction in the sector but that investment will only be made if there is a pipeline of projects. Therefore the consent of a scheme like East Anglia ONE – which should be warmly welcomed by everyone – will boost business confidence and help secure more affordable, more reliable and greener power in the UK electricity mix.”
Huub den Rooijen, Head of Offshore Wind at The Crown Estate said:
“Today’s planning consent for East Anglia ONE is another great example of how the offshore wind sector continues to go from strength to strength. As one of the largest renewables projects to get consent in England and Wales, this announcement represents a great opportunity for UK jobs and the transition to a low carbon economy. In our role as manager of the UK seabed we are delighted to see such positive decisions coming through the planning process that will help cement the UK’s position as a global leader in offshore wind.”
Caroline Williams CEO Norfolk Chamber of Commerce said:
“This decision is very good news for the Norfolk economy and that of the rest of the East of England. East Anglia ONE will provide long term opportunities both for the Norfolk supply chain and for jobs. There are very few sectors which can plan 20 years ahead so this development will also open up significant opportunities for the region’s young people. There is still much to be finalised but there will certainly be a positive feeling across the business community about the future with this news.”
The full East Anglia ONE project could include:
Offshore wind turbines and foundations (up to 240 wind turbines to provide an installed capacity of 1,200MW, figure subject to type and size of turbine)
Up to three offshore collector stations and up to two offshore converter stations and their foundations to collect the electricity from the turbines and transform it to a form suitable for transfer to shore.
Up to four seabed export cables, each around 73km in length, to transfer the electricity to shore.
A landfall site with onshore transition pits to connect the offshore and onshore cables.
Up to four onshore underground cables, each of around 37km in length, to transfer the electricity from landfall to an onshore converter station.
Up to eight cable ducts for two future East Anglia projects to connect into Bramford Substation. This could limit the impact of future construction operations as cables for these future projects would be pulled through the pre-laid ducts
An onshore converter station adjacent to the existing substation at Bramford, Suffolk, to connect the offshore windfarm to the National Grid.
The New Anglia Growth Hub for Norfolk and Suffolk was officially launched last month and its establishment sparks an exciting time for business growth across this region. John Stenhouse, the Growth Hub Manager, leads the team of knowledgeable, dedicated and passionate Business Growth Advisers. The team will offer a unique service to ambitious business leaders who want to invest in their growth, by offering face-to-face meetings to inject some knowledge and offer a more personal touch to business support. The Growth Hub also have access to all available business support organisations and their objective is to make the whole process as easy as possible. The barriers have been knocked down and the team are ready to help you. Let’s get down to business and meet the team:
John Stenhouse – Growth Hub Manager John Stenhouse has a business career that has spanned over four decades, after 17 years in corporate environments, administration and management accounting he founded an accountancy firm and developed it in to a thriving practice. John also acquired several fledgling and struggling businesses and turned them around to become profitable concerns.John has worked with thousands of businesses from start-ups to multi million pound corporations and high growth companies, through many shifting economic climates. John’s strategic, pragmatic approach to finance and business, combined with his flair for generating profit and growth has earned him a reputation as one of the area’s most respected business advisers.John is manager of a new team of highly experienced Business Growth Advisers representing the New Anglia LEP in Norfolk and Suffolk. John utilises his experience in helping companies achieve high growth through what remain challenging economic times.
James West – Business Growth Adviser James is the Business Growth Adviser for Norwich and North Norfolk. With a passion for management and marketing gained here in our region, James explores business’s individual needs and helps them access the most effective support to grow. Having managed small businesses ranging from manufacturing to environmental products and professional services to pet ID; James has first-hand experience of the amazing diversity of Norfolk business and the barriers frequently faced. Having gained his MBA analysing these very hurdles, James aims to help as many Norfolk companies as possible benefit from the wealth of quality support available to help them grow.
Stella Rice – Business Growth Adviser In South Norfolk and North Suffolk, local people, local business and local jobs is Stella’s objective and focus, delivered face to face in a simple, straightforward manner that makes a significant difference. Her background includes theatre and the arts, financial consultancy, owning and running a multi award winning food business, several years as a Norfolk and south Norfolk councillor specialising in business and economic growth and most recently working in marketing and business development. Stella is here to help get you where you want to be, signposting and referring your business to those who will offer the most appropriate assistance for you to grow and to realise your ambitions.
Richard Glinn – Business Growth Adviser Richard has worked in retail management and in estate agency but the majority of his career has been spent in the vehicle hire industry. He managed every Avis London depot, set up and ran a hire business in Abu Dhabi, assisted franchisee operations, worked for Arriva and was Managing Director for Northgate Plc in East Anglia from 1999-2011, leading the establishment of a company called Anglian Self Drive which became Northgate Vehicle Hire as we know it today. He also served as a Director at Foundation East, becoming their Marketing and Membership Manager in 2011.
Glen Moore – Business Growth Adviser Glen has 12 years’ experience advising businesses in this region primarily in the field of skills and workforce development. Most recently, Glen has worked for the National Apprenticeship Service with the responsibility of increasing the number of apprentices being hired in Norfolk and Suffolk. Glen crafts a clear strategy using his ever growing list of contacts to find a tailored solution to help you grow your business.
William Millar – Business Growth Adviser (Innovation) William is the Business Growth Adviser for the South Suffolk and Ipswich areas, with a special interest in innovation anywhere in the New Anglia area. He has a wide ranging experience of creating and delivering innovative products and services from within a corporate environment and is particularly interested in helping businesses in the region wishing to innovate in their offering to the market place, as well as any business wishing to grow.
Morgan Potter – Business Growth Adviser (Innovation) Morgan is a Business Growth Adviser for Innovation, covering Norfolk and Suffolk. Morgan has operated his own business consultancy company for the past three years with a remit of advising on business growth and exit strategies. He was a business adviser with ibd (Initiatives in Business Development) and has a DBA in Strategic Management from Aston University and two MBAs. Morgan is keen to engage with businesses to provide the guidance and support needed and to help build best practice across Norfolk and Suffolk.
Photo Caption: Back Row – left to right – James West, William Millar, John Stenhouse, Morgan Potter, Richard Glinn, Alan Cowie, Glen Moore Bottom Row (seated) – Margaret Oakley, Stella Rice
Ermine Amies of Sandler Training presented a lively and enthusiastic session. She spoke on adapting to different style and techniques when dealing with customers and how to recognise what type of person you are talking to. Ermine’s delegates said they wished the session could have gone on longer, with Scott Jarvis of KTIB saying he enjoyed the “easy, laid back style of learning” that Ermine brought.
If you want to find out more about the work Sandler Training do, please click here. We are soon to launch our fourth series of The Chamber Sessions, don’t miss what remains of series 3 and keep your eyes open for a series of new and returning speakers, starting August 14th, by clicking here.
Ben Handford of Naked Marketing delivered an informative and insightful Thursday lunch time Chamber Session. He spoke about what branding really is and what it definitely is not and gave some useful, take away tips on branding champions.
Elliot Symonds of Jarrold Training said “the moments of absolute genius and insight from Ben challenged and inspired action. Powerful point about communication ‘what it is you do’. Very thought provoking.” Ben stated that he felt like his session was a great opportunity to share his passion and his top 3 tips would be to “do your research, have a strategy and remember touch points”.
For full details on what the team at Naked Marketing do, please visit www.nakedmarketing.co.uk For more information on what remains of Series 3 of The Chamber Sessions, please click here.
At a recent meeting of the Bank of England with Norfolk Chamber members, Tim Pike, the Bank of England Agent for the East of England had three key questions for Norfolk businesses:
1. Against the current level of turnover, what additional percentage of sales could each organisation expect to handle before they reached current capacity? 2. Were skills shortages and wage inflation pressures causing issues? 3. How important was the exchange rate to those who were exporting?
Many of the businesses identified they had the capacity to accommodate an increase in sales of between 10% and 20% before they would need to consider increases in staff. However many organisations flagged that skills shortages were a major concern to them, in particular attracting young people into manufacturing and engineering roles. Some companies were starting to experience wage inflation pressures and had noticed that the employment market was beginning to move.
Of the exporters around the table, they highlighted that the overseas exchange rates were being monitored carefully and one exporter highlighted that they would probably need to switch from Euros to Pounds Sterling, as the exchange rates were to their detriment at present.
As part of the round table discussions, the availability of suitable premises to expand into was also raised. There does not appear to be a large quantity of good quality buildings that are available immediately. Steps are being taken to improve the supply, however most businesses, looking at the market now, could not afford to wait up to 18 months for new purpose-built premises.
Overall Chamber members highlighted that business was doing well and confidence was growing. Most could handle increased sales and plans were in place for growth within their businesses, however skills shortages still remain a key concern.
What is GrowthAccelerator? GrowthAccelerator is a unique service led by some of the country’s most successful growth specialists where you’ll find new connections, new routes to investment and the new ideas and strategy you’ll need for your business to achieve its full potential. A partnership between leading private sector business growth experts, Grant Thornton, Pera, Oxford Innovation and Winning Pitch and backed by Government, GrowthAccelerator will get your business to where you want it to be – faster. GrowthAccelerator will get to the heart of the barriers that are holding your business back and help you identify the critical steps you need to take to achieve your next phase of growth – rapidly and sustainably.
How does GrowthAccelerator work? Identifying your priorities for growth. They will work with you to explore your ambition and capacity to grow, give you new insights into the barriers holding your business back and consider potential opportunities for your business.
Developing your growth plan Your growth plan will be completely bespoke to meet the individual needs of your business. It will concentrate on the areas that you and your Growth Manager expect to be most influential on your drive for greater growth.
Beginning your drive for rapid growth In collaboration with you we will select and appoint a Growth Coach matched to your business against attributes including experience, skills and personality. Your Growth Coach will work closely with your business implementing your growth plan.
Where driven businesses go to realise their ambitions GrowthAccelerator exclusively targets high growth businesses who want to enter their next growth phase and have the potential and determination to get there.
Is my business eligible?
Are you determined to grow?
Is your business registered in the UK & based in England?
On 5 June, over 60 members enjoyed an evening of informal networking with a competitive twist in our Pub Quiz. The 11 teams created a vibrant atmosphere at the King’s Centre in our latest After Hours Event.
We started our event off with a hallmark icebreaker of ‘Fine Someone Who..’ which got the delegates mixing around the room and networking with each other, with the prize being 3 extra bonus points for their team score.
Our guest host Nicky Price, BBC Radio Norfolk then got the quiz off to a great start by testing our delegate’s general knowledge. This then lead to some Norfolk based questions which included both local knowledge and Norfolk company logo’s. The final round was deciphering over 80 slogans from companies all over the UK. Scores came very close together with them all fighting to win the sought after 1st place medals.
After adding all the scores together, host Nicky Price declared the winning team to be none other than the sponsor The King’s Centre.
Below are some of the tweets from last night’s event.
James Elvin, Price Bailey
Enjoyable quiz night and networking with a local theme by @norfolkchamber and a great venue @KCNorwich #ChamberNetworking #AfterHours
Joanna Keane, Lovewell Blake
Go team Lovewell Blake @LovewellBlake @norfolkchamber #ChamberNetwork #AfterHours
Leathes Prior
We had lots of fun at the quiz last night and can’t believe we didn’t come last! Thanks @norfolkchamber #ChamberNetworking #AfterHours
Dan Bradfield, Naked Marketing
Pleased with 2nd place for the Naked Angels @FionaTemple @RedCatSarah @norfolkchamber #ChamberNetworking #wellconnected
To view more photo’s from this event visit our Facebook or Google+ page.
Our next After Hours event is Look the Business on 21 August. Join us for the ultimate business fashion event where you can update your contacts and your wardrobe in one night. To book your place or for more details click here.
Rachel Blackburn of Us2U Consulting gave a fun and energetic presentation at this morning’s Chamber Session. She spoke about how to apply the 4 step assertiveness process and about approaching different issues in the workplace relating to your staff. Sean Thompson of Arthur Jary & Sons Funeral Directors said that it was “fun and full of energy” and that it “made quite a serious subject engaging and interesting.” Rachel stated her highlight from the session was how “enthusiastic” her delegates were.
For full details on the work Us2U Consulting does, please visit www.us2uconsulting.com for more details. This session forms part of Series 3 of The Chamber Sessions. Full details of what remains of this series can be found here.
At the Norfolk Chamber of Commerce event involving all the Norfolk MPs back in February 2014, Chamber member Rachel Blackburn, Director of US2U Consulting raised the issue that it was taking over 3 months for a new taxi driver to get their licence from Norwich City Council, on behalf of her client ABC Taxis Ltd. As ABC Taxis planned to recruit 20 new drivers this year to meet customer demand, this clearly was a concern to them and also to the individuals concerned who are keen to start their new career.
Chloe Smith MP and Simon Wright MP agreed to help to solve the problem. Working with Rachel Blackburn, who met with Norwich City Council to profile the process in more detail, it has been a team effort to resolve the issue. Norwich City Council has agreed that the process should take around 8 weeks and currently the experience when hiring the new drivers recently has been that it has been taking around 5 weeks. A significant difference.
US2U Consulting and ABC Taxis have also produced a film to make the recruitment and licencing process easier to understand from the new recruits point of view. This can be seen on the ABC Taxis website at https://www.abctaxisnorwich.co.uk/Recruitment.aspx . Chloe Smith also visited the ABC Taxis team as part of the process.”
Manufacturing Advisory Service offers consultancy improvement projects to help support business growth. To have an in-depth match funded project you’ll have had a free Manufacturing Review and your Advisor has provided an Action Plan and recommended a project to support your improvement. Your advisor will also confirm the offer in writing. Projects can vary in depth and address a wide range of opportunities and therefore the value can vary but will typically range between £300 and £3000. A standard MAS project will deliver a return of at least 66:1 against your initial investment.
Take a look at the areas that MAS can help provide consultancy support in:
Just a few of the types of projects that would comply with the MAS scope are:
Getting systems in place for ISO 9001, 14001 and other industry standards
Patent search activities
Bespoke staff training as part of addressing a wider business strategy
Consultancy to improve product design
Design for manufacture and assembly
Product development consultancy
Rapid prototyping to support advanced manufacturing
Material selection
Subcontract cad design and drafting
Tooling costs
Eligibility
To find out more about how MAS defines manufacturing and eligibility visit the MASwho we can help page. For more information on how MAS can help call: 0845 658 9600 or email: advice@mymas.org
Cllr George Nobbs has been re-elected as Leader of Norfolk County Council following a meeting of Full Council at County Hall today (Tuesday 27 May).
Cllr Nobbs, who represents the Crome division in Norwich for Labour, was elected by 43 votes to 40, with Liberal Democrat Cllr David Harrison of Aylsham division elected as Deputy Leader by the same margin.
Cllr Nobbs first became Leader of the Council in May 2013 following the County Council elections.
The County Council is now moving to a new committee based decision making system, with the following Committee Chairs also appointed at today’s meeting:
Adult Social Care Committee – Cllr Sue Whitaker (Labour) as Chair; Cllr Elizabeth Morgan (Green) as Vice Chair
Children’s Services Committee – Cllr James Joyce (Liberal Democrat) as Chairman; Cllr Richard Bearman (Green) as Vice Chair
Communities Committee – Cllr Paul Smyth (UKIP) as Chairman; Cllr Margaret Wilkinson (Labour) as Vice Chair
Environment, Development and Transport Committee – Cllr Toby Coke (UKIP) as Chairman; Cllr John Timewell (Liberal Democrat) as Vice Chair
Cllr Nobbs and Cllr Harrison take the Chair and Vice Chair of the Policy and Resources Committee
All five committees will be meeting for the first time in June, with the Adult Social Care Committee the first to take place under the new system on Monday 16 June.
The leadership of the Economic Development Sub-Committee will be chosen when that committee first meets on Thursday 26 June.
Liberal Democrat councillor Brian Hannah, who represents Sheringham ward, was elected as the new Norfolk County Council Chairman at the meeting with no opposition, with Cllr Rex Parkinson-Hare, of the UKIP group for Yarmouth Nelson and Southtown ward, elected Vice Chairman.
At the meeting councillors also discussed a report on the remaining deficit facing the County Council following the termination of the Willows contract.
The Council agreed that just over £1m be found from highways maintenance (£900,000) with a further £140,000 coming from the libraries book fund.
They agreed that if savings options which have a less direct impact on services emerge during 2014, substitution of these would be an acceptable policy option.
