Chamber News

• Completion of the improvements to Ely North Junction
• New Rolling Stock
• Priority loops at Chelmsford to create more capacity
• Electrification of the Norwich to Cambridge line

The four-county East Anglia Rail Summit met in Westminster yesterday, one year on from the launch of the East Anglia Rail Prospectus.

Representatives from Norfolk, Suffolk, Essex and Cambridge; together with Network Rail and Greater Anglia Rail Franchise all attended the summit. Norfolk’s delegation included the Norfolk Chamber, the majority of the Norfolk MPs, Norfolk County Council and New Anglia LEP.

The summit reviewed the improvements that have been approved for Ely Junction, Bow Junction and the West Anglia three tracking system. The improvements to Ely junction will allow more capacity and will facilitate a half hourly service from King’s Lynn to London, as well as providing another step in the right direction for the Norwich to London in 90 minutes.

Despite theencouraging progress, the group agreed that more rail improvements were necessary:

• Improvements to Chelmsford to create a priority loop which will provide additional capacity, that will benefit all four counties and create economic benefits across the region.

• New Rolling Stock – the existing rolling stock will no longer be compliant by 2019, however to ensure new rolling stock is deliverable in good time, it must be called for now.

• Electrification of the Norwich to Cambridge line – Huge advances have been made in bio and life sciences in both Norwich and Cambridge. Long-term, there is an economic case to be made for electrification of the line to ensure that both cities can benefit from linking science and innovation with ease of access.

Mary Ann Forbes died last Sunday and her funeral will be held on Wednesday 24 July at Gorleston Crematorium. She was heavily involved with the Great Yarmouth Chamber of Commerce. Below are some words of remembrance from past President Michael Boon.

Mary Ann Forbes joined the Great Yarmouth Chamber of Commerce during my term of office as President in 1987-89. There was a need to encourage businesses in Great Yarmouth of the value of the long standing town Chamber at that time and she threw herself into the task quickly.

She was energetic in delivering the Chamber services locally and also using those of the Norwich and Norfolk Chamber, of which Great Yarmouth eventually became a part, quickly making contact with her colleagues in the City to assist the Great Yarmouth members when necessary. She became the local face of the Great Yarmouth Chamber assisting a succession of Presidents during their terms of office.

Mary Ann was active in promoting the Chamber’s role as a local business organisation, attending exhibitions in the UK and in the Netherlands on the Great Yarmouth stands, to assist in promoting Great Yarmouth as a united front in being able to deliver a range of opportunities.

During the whole period I was on the Great Yarmouth Chamber Council her enthusiasm for her job was evident. She was tenacious and would always go the extra mile in contacting Chamber members who might be able to assist prospective members by her knowledge of who was who in the Great Yarmouth business community. She acted as a focal point of information when we all needed to enquire about new firms coming into the town and likewise assisted the incoming firms not only with Chamber membership but with the means to develop their business by contact with existing members.

Even when she entered the early stages of a cruel illness, which eventually forced her to retire in from her role January 1999; she continued to have enthusiasm for her job and never complained about her own circumstances while getting on with the Chamber’s work. Her smile, sense of humour and persuasiveness were infective and she will be fondly remembered by those of us who were Chamber members during her time as Great Yarmouth Manager as someone who enjoyed her job and meeting and assisting the wide range of people in the business community with whom she came into contact.

Michael Boon

Former Great Yarmouth Chamber of Commerce President

July 2013

• In the three months to May 2013, unemployment claimants in Norfolk fell by 9%
• Long-term unemployment in Norwich increased by 14% between May 2012 – May 2013
• Youth unemployment (18 – 24 Years) in Norwich rose by 23% between May 2012 – May 2013
• The Norfolk claimant count fell by 5% between May and June 2013

Commenting on the labour market figures, published yesterday by the ONS, Caroline Williams – CEO, Norfolk Chamber of Commerce, said:

“With employment rising and unemployment falling, the labour market remains an area of strength for the Norfolk economy. There are some areas of concern, however. Long-term unemployment is up and youth unemployment is still too high. But at a time when the government’s austerity plan remains in force and the public sector is shrinking, it is reassuring that the private sector is willing and able to create jobs.

“The government and the Bank of England can do more to help Norfolk businesses continue creating jobs. The positive measures announced in the Spending Review, such as providing more support for exporters and infrastructure projects, should be implemented as soon as possible, and further efforts are needed to increase the flow of credit to viable businesses.”

• Annual CPI inflation was 2.9% in June 2013, up from 2.7% in May
• Annual RPI inflation was 3.3% in June 2013, up from 3.1% in May
• Largest upward contribution came from motor fuels and clothing, partly offset by a downward contribution from air transport

Commenting on the inflation figures for June 2013, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC) said:

“The rise in inflation is bad news for businesses and consumers, especially at a time when earnings growth remains weak and the government’s austerity measures are in full swing. Inflation is now at the highest point seen over the past year, though still below the levels seen in 2010-11. The uncertainty is whether inflation will peak at its present level before falling later this year, as we expect. If this happens, it is still possible that the recovery will continue to slowly gather momentum throughout the year and into 2014.

“However if unexpected developments, such as renewed surges in energy prices, push inflation up further, our growth prospects will face new risks. Given the uncertainties, the MPC should remain cautious and reject any measures that could delay the fall in inflation that the economy needs.”

Commenting on the Transport Secretary’s announcement of reforms to the way Britain’s road network is managed, Caroline Williams CEO Norfolk Chamber, said:

“Business growth requires a road network that’s well maintained, congestion free and upgraded where necessary. For too long, the Highways Agency has been struggling to deliver on these requirements.

“So we welcome the announcement that the Highways Agency is to become a public corporation, managed in a more business-like fashion, and that it will have the same sort of five-year funding certainty that has helped to improve the rail network in recent years.

“Business has had enough of ‘stop-start Britain’. We’ll be watching closely to ensure that these changes enable companies and their employees to move full speed ahead on a better national road network. We will also urge ministers to bring forward some of the new road maintenance spending they’ve promised after 2015, as urgent action to maintain our roads is required now. We will also continue to call for improvements to the A47 which is currently claiming so many lives”

Saturday, 13 July, sees the start of a new producers’ market, located in the town’s historic Saturday Market Place, giving people the chance to buy high-quality meats, fruits and vegetables, chutneys and sauces, gluten-free cakes and a range of home-made ready meals.

The initiative, which has been spearheaded by local restaurateurs Richard and Lucy Golding of the Market Bistro, is designed to meet the demand for high-quality local produce, as well as encouraging new visitors to King’s Lynn historic quarter.

The market will take place between 10am and 2pm on Saturday, 13 July and then on the second Saturday (10am-2pm) of every month until December 2013. Producers taking part are The Fruit Pig Company, Alfie’s Fresh Produce, Plum Tree Kitchen, Glu-10-3, Somerville House Cookery and the Market Bistro.

Lucy Golding explained: “As part of the Hanse Day celebrations on the 25 May this year, we organised a local producers’ market with some of our suppliers which was really well received amongst residents and visitors. It was a delight to see so many people buzzing around the Saturday Market Place and we felt that there was an opportunity to be explored.

“Saturday Market Place is an oft-forgotten part of town, and yet it’s one of the most interesting and historic areas with the Town Hall, King’s Lynn Minster and Hanse House all in the vicinity. We hope that this monthly market will encourage more people to this end of town which will in turn help support other businesses in and around the Saturday Market Place.”

The Borough Council of King’s Lynn & West Norfolk have supported the initiative by offering the use of the council’s 6 gazebos and the space on the Saturday Market Place free of charge for the first four markets.

Cllr Alistair Beales, Cabinet Member for Regeneration, added: “The council is keen to support initiatives that will encourage more people into the town centre and we are delighted that our Hanse Day celebrations have led to the development of this mini market. We wish Market Bistro and the producers every success and would encourage people to come along and support them.”

The Deputy Prime Minister, Nick Clegg, will today announce that Government will provide £3.2 million of funding to support the development of the agri-tech industry in Peterborough, North Cambridgeshire and Norfolk.

The Eastern England Agri-Tech Growth Initiative will receive the funding from the Government’s Regional Growth Fund following a bid submitted by the Greater Cambridge Greater Peterborough Enterprise Partnership (LEP), in conjunction with New Anglia LEP.

The initiative will bring together leading agriculture, research, science and technology assets in the East of England the initiative will strengthen a nationally significant, vibrant new cluster that brings a truly global reach and impetus to the emerging UK agri-tech sector.

Caroline Williams CEO Norfolk Chamber of Commerce said ” It is great news for Norfolk that the potential of this sector to help grow the Norfolk economy has been recognised. This funding will build on the great work that has been happening and allow us to take it to the next stage”

The initiative brings together the wide array of existing world class capabilities in crop and food research, technology, engineering and manufacturing that already exists between Cambridge and Norwich, with the grade one agricultural land and production capabilities in north Cambridgeshire, Peterborough, Norfolk, the Fens and parts of Suffolk. Strengthening an already significant cluster, this initiative will help the agri-tech sector to evolve for future success and growth.

Focusing on future success, the initiative will boost growth by:

• supporting the development, application and commercialisation of new technology in the food and agriculture industry, through new market and supply chain development
• enabling essential skills development
• establishing a new cluster that puts the UK at the forefront of global challenges facing the food and agriculture sector
• providing loans for local SMEs in specialist food-related sectors and industries
• creating innovation support for micro-enterprises that are currently unable to access support via existing schemes, such as the Growth Accelerator
• reviewing opportunities to create a private sector network for the agri-tech cluster in our area to help broker investments

The LEPs will now work with Government to finalise the funding agreement and carry out due diligence work. As soon as this is created the team will officially launch the new scheme.

Norfolk Chamber welcomes the news that the New Anglia Local Enterprise Partnership will be helping to create at least 1,000 new private sector jobs after securing £9m from the Government’s Regional Growth Fund.

The cash will be used to massively expand the LEP’s Growing Business Fund, which offers grants for business expansion of between £25,000 and £100,000.

The scheme was established after the LEP secured £3m from a previous round of the Regional Growth Fund. Now the fund will have £12m to distribute to firms across Suffolk and Norfolk.

The current Growing Business Fund is currently restricted to businesses within Greater Norwich, Greater Ipswich, Great Yarmouth and Waveney areas.

However, the additional funding will enable the scheme to be expanded across the entire LEP area – the counties of Norfolk and Suffolk. Dozens more businesses will be able to benefit from the scheme, which now has a target of creating at least 1,000 jobs.

Following today’s announcement (Wednesday) the LEP will begin a period of finalising contract terms with the Government, with the provisional allocation expected by early autumn.

More details on the existing Growing Business Fund can be found at https://www.newanglia.co.uk/Activities/Growing-Business-Fund

Iain Wright, the Shadow Minister for Competitiveness and Enterprise at the Department for Business, Innovation and Skills visited the Norfolk Chamber yesterday to listen to the views of Chamber members on topics including: access to finance; the proposed British Investment Bank; and what is holding back economic growth for Norfolk businesses.

Members highlighted that many profitable local businesses were struggling to access finance, as the current banking regulations could prove to be very onerous and credit decisions often took too long. Members felt that the changes in staffing levels/structures inthe banks, meant that local bank managers no longer had regular interaction with the business community and therefore lacked aspects of key local knowledge.

In addition, the central lending decision makers did not have an understanding of the local market conditions, or a long term relationship with that business on which to base their decision, all these factors could lead to lending requests being rejected. Overall the group thought that the idea of the British Investment Bank was a good, but they stressed the importance of local infrastructure to ensure local market intelligence was taken into account and

The new bank should be complementary to the existing banking system. The general consensus was that the British Chambers of Commerce proposed model, which recommends that the current banks be offered first refusal on the requested finance and, should they not be willing/able to facilitate the loan, then the British Investment Bank would consider the request. Everyone was adamant that the new bank should not be run by politicians.

Caroline Williams, CEO of Norfolk Chamber highlighted the determination of Norfolk businesses to continue to forge ahead in challenging economic times – through innovation, hard work and diversification to ensure economic growth in Norfolk continues to flourish.

Read updates issued by the Export Control Organisation including details about imposition of arms embargoes, Open General Export Licence amendments or announcements about Control List changes.

Notice to Exporters 2013/15 The Strategic Export Control Transparency Initiative – actions to meet government transparency requirements on usage of Open Licences – will not now begin operating during July, as indicated in Notice to Exporters 2013/14.

Notice to Exporters 2013/16 Croatia became the 28th Member State of the European Union on 1 July 2013. From this date, you will not need a licence to export dual-use items to Croatia (except those listed in Annex IV to the Regulation). However, the requirements of Articles 22(8) and (9) (record keeping in relation to items transferred within the EU), and of Article 22(10) (commercial documentation to state that a licence would be required if the items were to be exported from the EU), of the Regulation will apply to transfers within the EU.

Notice to Exporters 2013/17 A number of Open General Export Licences have been amended, as a result of Croatia becoming a Member State of the EU from 1st July 2013

China is the most significant economic success story of the past 30 years and, along with rapid and continuous industrialisation, a large and fast-growing consumer market has emerged.

China is now not only the biggest automotive & ICT market in the world, it is also the 2nd largest market for luxury goods after Japan.

As part of their ongoing engagement with business, the China-Britain Business Council (CBBC), in conjunction with HSBC, UK Trade & Investment (UKTI) and other regional partners, is running a series of China Business Clinics across the East of England.

Whether you are just starting to look for opportunities in China or planning to develop your existing activities, you may benefit from taking part in one of these clinics.

You will have the opportunity to discuss on a one-to-one basis matters ranging from the market potential for your products or services, to how to establish a presence in the market, as well as the support and services available to help you develop your business in China in a cost effective way. HSBC staff will also be on hand to answer your questions on trade finance and payment issues.

The Norwich Clinic takes place as follows:

Thursday 18 July 2013 at HSBC House, 21 Meridian Way, Meridian Park, Norwich, NR7 0TA

Each session will last 45-60 minutes and bookings will be taken on a first-come, first-served basis.

Please take a look at the event flyer for more details. To book your place, click here.

July 2013 (Based on June 2013 data releases)

The British Chambers of Commerce have released their monthly economic review for July 2013. Their report highlighted that the Spending Review still shows that repairing the UK’s public finances continued to be a major challenge, however the latest BCC Quarterly Economic Survey had shown that there had been more economic growth in Q2, but key risks to the UK economic outlook still remained. The full report is attached.