Commenting on the Bank of England’s Quarterly Inflation Report, Caroline Williams CEO Norfolk Chamber of Commerce said:
“While we have always felt that the earlier gloom over the UK economy has been exaggerated, the positive trends outlined within Governor King’s final Inflation Report appear to be too optimistic. We accept that growth is likely to remain positive, but believe that the speed of the recovery will be somewhat slower than the Governor indicated. The grim eurozone data also shows that our exporters will face obstacles over the year ahead. We also think that the inflation outlook is slightly worse than the report suggests, and future falls in 2013 and 2014 will not happen as quickly.
“With the flexible monetary remit given to the MPC by the Chancellor, and the likelihood of policy changes after the arrival of Mark Carney as Governor, it is important that the MPC does not encourage a faster sterling devaluation to support exports – even if inflation rises temporarily. The unusually weak earnings figures highlight the squeeze on businesses and consumers, and there is a risk that the small benefits to exports will be outweighed by damage to domestic demand that can harm growth.”
Best isn’t always Big! Norfolk Chamber of Commerce is proud to be sponsoring The Small Business of the Year category at this year’s EDP Business Awards. The competition launched on Wednesday 15 May and businesses have until 3rd August 2013 to submit their entries. The EDP Business Award profiles the very best of Norfolk and Waveney businesses and would ensure that your staff and your customers know just how great you are!
Caroline Williams CEO of Norfolk Chamber of Commerce said “Small businesses are vital to the Norfolk economy. Although we do have a significant number of Norfolk’s big brands as members it is the smaller businesses that collectively employ a large number of employees, and they are always willing to give new ideas a go.
Despite the economic climate we know that there are many Norfolk small businesses that are leaders in their market place. They consistently create innovative products and services, trade internationally, develop their staff, and grow a profitable business, yet still find time to support their community. These are the businesses we want to recognise in The Small Business of the Year Award.
Small business owners are often so busy running their businesses they take for granted that what they are achieving is just ‘part of the job’. Norfolk has some amazing small businesses but a too often they are hidden gems. Help us celebrate your success and show our young people and individuals thinking of starting a business just what can be achieved, by entering this award. Criteria details below.
If you do not meet The Small Business of Year Award criteria we could encourage you to enter an alternative category. It would be great for your staff, great for your business and great to be able to show you off to the rest of the region. All details to be found on the special EDP Awards 2013 website https://www.edpbusinessawards.co.uk/
Criteria to be able to enter The Small Business of the Year Award 2013: The Small Business of the Year category is open to all businesses which have an annual turnover of less than £1million. Entries will be judged on their innovative approach to both product/service development and how serving their customer base has resulted in growth in turnover and profit. Entries will also be judged on and their involvement within their local community and how the business develops its employees.
Entries should be able to demonstrate a passion to grow a sustainable business, underpinned by a strong financial performance through strong leadership.
Areas to be covered in your entry should include: access to finance; research into new product/service development; sustainable practices; market analysis; ability to seize new business opportunities; promotional and marketing strategies; employee development and community engagement.
Copies of current balance sheets and profit/loss statements for the past year should also be supplied.
UK trade deficit in goods and services was £3.1bn in March, down from £3.4bn in February
Value of UK exports rose by 3.5% between February and March, while imports rose by 2.6% in the same period
Commenting on the UK trade figures for March 2013, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC) said:
“While it is pleasing to see an upturn in exports in March, Britain’s trade deficit remains disappointingly large. It is clear that we are not making enough progress in rebalancing the economy towards net exports. The figures also highlight the need to make further inroads into faster-growing regions across the rest of the world, while the eurozone, our biggest trading partner, continues to struggle.
“More action is needed to utilise the untapped potential of many British exporters, particularly in the services sector, so that businesses can drive a sustainable recovery. The government must implement measures it has previously announced to support firms looking to break into new markets. In addition, we clearly need a national export strategy focusing on key areas such as trade finance, insurance, and promotion, to enable companies to compete on equitable terms.”
Tracey Howard, International Trade Direct at the Norfolk Chamber of Commerce said:
“More and more businesses are now realising the importance of international trade, so in my opinion, this year will see an increase in businesses starting to trade with new markets.
The Global Marketplace series of events that we organised during 2012/13, were attended by delegates who have never been to our events before, and they were very keen to start trading in the countries that we were highlighting.
This year we will be taking a closer look at the business opportunities in more high growth countries: India, Brazil, Qatar, Russia, South Africa and Vietnam. Exporting to these countries will help businesses flourish financially, which in turn will help to lower Britain’s trade deficit.”
The UK economy grew in Quarter 1, but outlook remains weak. The service sector continues to drive growth as construction and manufacturing weaken and as the deficit reduction continues to bite, the UK jobs market may be running out of steam. For full details, see the attached.
Today the Accredited Chamber Network is launching its national Brand Campaign to showcase the value in being a member of an Accredited Chamber of Commerce. In an online video, Chamber members from across the UK talk about the ways in which their local Chambers have helped to support the success of their businesses.
Accredited Chambers of Commerce are always on hand to offer help and advice for business owners – whether that’s how to export to new markets overseas, hosting networking events, or providing essential services to help entrepreneurs run their businesses day to day.
Commenting, Dr Adam Marshall, Director of Policy at the British Chambers of Commerce (BCC), said:
“Being a member of a local Chamber of Commerce allows businesses of all sizes and from within all sectors stay well connected at both a local and national level. Chambers are unique, as they act as a front door in towns and cities in every part of the UK for the business community. There are no other bodies that do what Chambers do. Their services range from day to day support on how to run a business, to leading global trade missions to countries across the world that help members find new markets for their goods and services. Accredited Chambers of Commerce have the added support of being a part of the British Chambers of Commerce, giving businesses the chance to have their views represented at the highest level of government.
“We know that private sector businesses are at the heart of the British economy, driving growth and creating jobs and wealth. But with a little added support, they can go even further to transform their business into a global success story. Through this campaign we hope to raise awareness of the valuable work being carried out by Chambers of Commerce week in, week out, on behalf of the dynamic and hard working companies that they represent. With more than 100,000 like-minded members nationwide, there has never been a better time for businesses to join their local Chamber.”
Caroline Williams CEO Norfolk Chamber of Commerce said: “This is the first time that the Chamber Network has come together to celebrate what it means to be part of a powerful accredited organization. Collectively we cover the whole of the UK and have links across the world. This enables our members to connect with a massive amount of businesses both locally and globally and do business. The Norfolk Chamber is about ‘Information and Influence’ both key to enable our members to grow their businesses and to help improve the Norfolk economy.
Commenting on the report by Lord Young – ‘Growing Your Business’ – published today (Monday), Caroline Williams CEO Norfolk Chamber of Commerce said:
“Lord Young is right to place emphasis on the growth of smaller firms, who unlike some of the UK’s larger companies, need support and encouragement to help them become the wealth creators of tomorrow. Small and micro businesses will only be able to fulfill their full potential once measures are put in place to help them access the finance, skills and services they need to grow.
“Lord Young has identified a number of these measures in his report and we are pleased to see him address the problem of access to finance which is still hurting the growth potential of many Norfolk firms. But the focus must now be on getting these proposals off the ground so they can actually make a real difference to the business community, and in turn, drive the economic recovery. The Norfolk Chamber of Commerce stands ready to ensure Norfolk businesses are given all the support they need as they embark on their growth journeys over the crucial months ahead.”
Commenting on the Growth Voucher Scheme, Dr Adam Marshall, Director of Policy at the British Chambers of Commerce (BCC), said:
“The BCC proposed a Growth Voucher scheme in September 2012 to help businesses that want to grow gain access to crucial services and advice. We were pleased that the Chancellor accepted our proposal by announcing the Growth Voucher scheme in the 2013 Budget and committed £30m to the scheme itself.
“Chambers of Commerce around the country look forward to working with the government to bring the scheme to life – and enable businesses to get the specialist assistance they need.”
Commenting on the proposed procurement measures, Adam Marshall said:
“Across the country, small firms tell us that they would be keen to compete for more of the public sector contracts advertised in their local areas. They regularly tell us that it is hard to break into procurement by local councils and other bodies, due to onerous information and application requirements. Lord Young is right to call for better access to local procurement for small firms, and for the abolition of hated Pre-Qualification Questionnaires and other bureaucracy that stop many small companies from competing for council business in the first place.
“Small businesses also report difficulties in pitching new products to the public sector outside formal invitations to tender. This is a wasted opportunity as it would bring private-sector knowhow into securing efficiencies for our public services. We support Lord Young’s call to make this process easier for SMEs.
“However, central government will need to do more than just exhort and encourage local authorities to open up procurement to smaller firms. Indeed it may need to look at ways to sanction councils and agencies that don’t let Britain’s SMEs compete for their business.”
Commenting on the report by Lord Young – ‘Growing Your Business’ – published today (Monday), Caroline Williams CEO Norfolk Chamber of Commerce said: “Lord Young is right to place emphasis on the growth of smaller firms, who unlike some of the UK’s larger companies, need support and encouragement to help them become the wealth creators of tomorrow. Small and micro businesses will only be able to fulfill their full potential once measures are put in place to help them access the finance, skills and services they need to grow.
“Lord Young has identified a number of these measures in his report and we are pleased to see him address the problem of access to finance which is still hurting the growth potential of many Norfolk firms. But the focus must now be on getting these proposals off the ground so they can actually make a real difference to the business community, and in turn, drive the economic recovery. The Norfolk Chamber of Commerce stands ready to ensure Norfolk businesses are given all the support they need as they embark on their growth journeys over the crucial months ahead.”
Commenting on the Growth Voucher Scheme, Dr Adam Marshall, Director of Policy at the British Chambers of Commerce (BCC), said:
“The BCC proposed a Growth Voucher scheme in September 2012 to help businesses that want to grow gain access to crucial services and advice. We were pleased that the Chancellor accepted our proposal by announcing the Growth Voucher scheme in the 2013 Budget and committed £30m to the scheme itself.
“Chambers of Commerce around the country look forward to working with the government to bring the scheme to life – and enable businesses to get the specialist assistance they need.”
Commenting on the proposed procurement measures, Adam Marshall said:
“Across the country, small firms tell us that they would be keen to compete for more of the public sector contracts advertised in their local areas. They regularly tell us that it is hard to break into procurement by local councils and other bodies, due to onerous information and application requirements. Lord Young is right to call for better access to local procurement for small firms, and for the abolition of hated Pre-Qualification Questionnaires and other bureaucracy that stop many small companies from competing for council business in the first place.
“Small businesses also report difficulties in pitching new products to the public sector outside formal invitations to tender. This is a wasted opportunity as it would bring private-sector knowhow into securing efficiencies for our public services. We support Lord Young’s call to make this process easier for SMEs.
“However, central government will need to do more than just exhort and encourage local authorities to open up procurement to smaller firms. Indeed it may need to look at ways to sanction councils and agencies that don’t let Britain’s SMEs compete for their business.”
Following an extensive inquiry into aviation, to which the BCC and some Chambers gave evidence, the House of Commons Transport Select Committee has called for Heathrow Airport to be expanded. The Committee rejected calls for a new hub airport east of London and made a number of recommendations that, if acted upon, will form part of a comprehensive aviation strategy, including:
• Improving surface access to the UK’s major airports; • Greater promotion of airports outside the South East; • HM Treasury conducting a fully costed study into the impact of Air Passenger Duty (APD); • Significantly reducing or abolishing APD if the study shows that it has a negative effect.
Commenting, John Longworth, Director General at the British Chambers of Commerce (BCC), said:
“Businesses across the UK will certainly be encouraged by the publication of this report. For too long, this issue has been a political plaything, and we are pleased that the need for more aviation capacity in the South East has finally been recognised. Future economic growth depends on a significant increase in airport capacity in order to provide international connectivity for passengers and goods. Greater capacity at UK airports will facilitate international trade, encourage inward investment, attract tourists and ultimately increase employment.
“The Transport Committee makes a number of sensible recommendations, which, if implemented, will significantly help businesses transport their goods and people around the world. The Committee has set out a clear, long-term aviation strategy which addresses the cost, connectivity and capacity concerns of the business community, and will benefit the UK economy as a whole. Now it is time for the government to stop dithering and make this strategy a reality. We know this will require bold decision-making, but the government must recognise the critical role that aviation has to play in supporting economic growth.”
On Friday 7 June there will be a chance to discuss the aviation capacity debate at a local and national level following recent research indicating the lack of capacity at Heathrow was costing the UK up to £14bn a year in lost trade. Hear local businesses’ viewpoints and national perspectives over breakfast. Open to all businesses by invitation. For more information about this event, please contact Hannah Thomson at hannah.thomson@norfolkchamber.co.uk.
Caroline Williams, Chief Executive, Norfolk Chamber of Commerce commented: “Norfolk businesses will welcome the limited package of legislation announced in the Queen’s Speech and Ministers are right to focus on measures that can help boost growth, and seem to have gotten the message that when it comes to new legislation, less is more.
Although there was no new Bill for education, the Government’s focus is on improving the quality of education for young people. However, we would like to see more emphasis placed on preparing young people for employment, through comprehensive careers education. A lot of energy is being invested in promoting vocational training. Businesses would be even happier if the Departments for Business and Education could present a joined-up, single system in relation to this type of training.
As part of the Chamber’s theme for ‘unlocking potential of Norfolk’s young people’ we are keen to see the business community and schools interact to ensure tomorrow’s workforce is not only educated, but is aware of the potential career opportunities in this region, such as offshore renewables, advanced technologies and life sciences.”
Also commenting on the Queen’s Speech, John Longworth, Director General of the British Chambers of Commerce (BCC) said: “The key for business is delivering on the government’s existing commitments, whether on infrastructure, energy, or education and training. Businesses are impatient to see real progress and real benefit emerging on the ground, not just the completion of Westminster and Whitehall processes.”
John Longworth’s comments on other issues arising in the Queen’s Speech can be found below:
On a consumer bill of rights (Draft Consumer Rights Bill): “Consolidating the vast amount of legislation on Trading Standards’ powers into one piece of legislation may benefit consumers. However, any simplification of consumer law must not add new burdens for businesses.”
On deregulation (Deregulation Bill): “Business welcomes the government’s efforts to deregulate, and remove needless red tape that prevents companies of all sizes from growing, innovating, and creating employment. Proposals around employment and health and safety law must be implemented without delay to increase business confidence, and allow firms to focus on growth.”
On pensions (Pensions Bill): “The introduction of a single tier state pension brings much greater clarity for pension savers, as well as parity for the self-employed. The government must ensure there is as much flexibility as possible for firms required to end contracting out, particularly given the decision to implement this reform as early as 2016.”
On high speed rail (High Speed Rail Preparation Bill; Hybrid Bill): “The inclusion of these Bills is a welcome reaffirmation of the government’s commitment to radically transform the capacity of the UK’s congested rail network. Business wants the Preparation Bill to receive cross-party support and a smooth passage through Parliament, leading to a Hybrid Bill in the near future.”
On utilities (Energy and Water Bills): “The government must ensure that the Energy Bill is not subject to any further delays that would hinder the future security of the UK’s energy supply or discourage private sector investment. The lack of competition in the English water market has meant that English businesses have received a poorer service than customers in Scotland. Ensuring genuine competition between water suppliers is good news for businesses in England.”
Abellio train operator Greater Anglia has reported a further improvement in train punctuality for the most recent four-week period ended 27 April 2013, with a public performance measure (PPM) result of 94.1%.
This continued and improving performance (in the previous period for March 2013 punctuality was 93.6%) means that the moving annual average (MAA) punctuality result – which measures performance over a 12 month period – has again improved to a new high of 92.4%, the best MAA figure recorded so far for the Greater Anglia franchise area (which was established in 2004).
Greater Anglia has consistently delivered improvements in train punctuality since taking over the franchise in February last year, and in this most recent four-week performance period for April, punctuality for the route sectors of the Greater Anglia network was: Metro & Southend 96.7%, West Anglia 93.9%, Mainline 93.8%, Rural 92.6% and Stansted Express at 90.4%. The 12 month MAA punctuality level for Mainline services continued to improve and to a new all-time high of 91.3%.
Individually, 6 of Greater Anglia’s rail lines now have a 12 month MAA punctuality figure either at or in excess of 95%. In Essex, the Romford to Upminster line has current punctuality of 99.3% and Braintree to Witham is 95.7%. In Suffolk, the Lowestoft to Norwich service is at 95.4% and Sudbury to Marks Tey is 95.1%. And in Norfolk, the Norwich to Great Yarmouth and Sheringham lines are both recording 95% punctuality. Meanwhile, the punctuality for Greater Anglia’s Norwich to London Intercity services in April of 93.2% was amongst the best performance achieved for these services since 2000.
Ruud Haket, Managing Director Greater Anglia said: “I am very pleased that train punctuality once again improved in April, reflecting our continued and relentless efforts, working in partnership with Network Rail to provide improving and consistent train service performance at Greater Anglia.
“We recognise there is more work to do in achieving greater consistency and will continue to focus on delivering further improvements in train punctuality for our customers across the region.”
In February, a Chamber led, joint Norfolk/Suffolk delegation went to see the Energy Minister in Westminster. Among the topics raised with him, was the alignment of the six UK COREs (Centre of Renewable Engineering), of which Great Yarmouth and Lowestoft is one. At present four of the six COREs have Assisted Area status – Great Yarmouth and Lowestoft is not one of these. It would benefit our region’s CORE if it was also awarded Assisted Area status, as this would level the playing field when promoting Great Yarmouth and Lowestoft, both nationally and internationally.
Following the delegation’s visit to Westminster, Brandon Lewis, MP for Great Yarmouth and Peter Aldous, MP for Waveney wrote a joint letter to the Treasury raising the issue of Assisted Area status and the Enterprise Zones. A reply has now been received from the Treasury.
Danny Alexander, on behalf of the Treasury, has outlined that the Assisted Area status is being reviewed, as a new Assisted Area Map is due to come into force in 2014. The rules of eligibility for Assisted Area status are determined by EU Regional Aid guidelines, which are also currently being revised by the EU Commission. Their review is due to be finalised in May or June of this year. The Department for Business Innovation and Skills (BIS) has advised that it is due to undertake a public consultation on the designation of Assisted Areas later this year.
John Morse, President of the Great Yarmouth Chamber Council said: “There are many potential opportunities in both the offshore renewables and the oil and gas industries that Great Yarmouth could benefit from. A level playing field, in terms of Assisted Area status, would help ensure the Great Yarmouth Enterprise Zone has the best chance of securing future economic growth and attracting further inward investment.
Once details of the consultation are known, the Norfolk Chamber of Commerce, along with other organisations, will be calling for the support of the business community in and around Great Yarmouth to input into the consultation and help highlight the case for awarding this region’s CORE Assisted Area status.”
Exports index rises 0.95% in Q1 2013 – but falls 1.5% on Q1 2012
Confidence among exporters remains high, but is slightly down on the previous quarter
SMEs experience uplift in their export orders, compared to businesses of other sizes
Businesses more likely to take on new staff than in Q4 2012
The latest DHL/BCC Trade Confidence Index report – which measures UK exporting activity (Export Index) and business confidence (Confidence Index) – shows that confidence levels in future turnover and profitability remain high, but there was a slight fall from Q4 2012.
Overall, the index number used to calculate the volume of trade documents required of all businesses exporting outside the EU, now stands at 114.84; this represents an increase of 0.95% on Q4 2012 and is now the second highest since records began three years ago, although if compared to the same quarter in 2012 the figure is 1.49% down.
Responses from more than 1,800 firms reveal that export orders and sales fell when compared to Q4 2012, however when broken down the services sector fall was marginal compared to the manufacturing sector. There was also a small increase in the number of businesses planning to take on new staff, particularly within medium and larger firms.
The key findings from the report are:
Over one-third of exporters (41%) said their export sales increased in Q1 2013, compared to 14% of respondents, who said that they decreased;
In the services sector, export sales increased for 44% of firms, down from 46% in Q4 2012. In manufacturing, export sales increased for only 36% of firms, down from 45% in the previous quarter;
Small firms’ order balances increased by 2% and medium firms’ order balances increased by 11%. Larger firms however reported a fall of 10% and micro firms a fall of 3%;
59% of exporters feel that their turnover will increase throughout 2013. 50% believe that their profitability will improve in 2013;
More than a quarter of firms (28%) said that they expected to increase staff this year, up from 27% in Q4 2012.
Tracey Howard, International Trade Director, Norfolk Chamber of Commerce said: Norfolk exporters are demonstrating a high level of confidence and Norfolk Chamber has seen increased numbers attending export training courses, as local exporters try to ensure that their staff a fully conversant with the latest rules and regulations.
Our recent ‘Global Market Place’ series of events highlighted that Norfolk exporters continue to look for ever expanding new markets in a bid to increase their export capacity. The success of Norfolk exporters has been shown when it was announced that two Norfolk-based companies: Omex Agrifluid Ltd, based in King’s Lynn; and Structure-Flex Ltd in Melton Constable; had both won a Queens Award for Enterprise in International Trade.
Commenting, John Longworth, Director General of the British Chambers of Commerce (BCC), said: “Although the manufacturing sector recorded a sharp fall in exports, the UK’s larger services sector continues to drive overseas trade. Optimism remains high amongst the UK businesses I visit week in, week out, who are determined to grow, create wealth, and break into new and fast-growing markets abroad, in spite of the continued risks facing UK exporters.
“These results are a mixed bag, and reflect the challenges still being faced by those trading internationally. We need more companies to take the plunge and start exporting and to do this they need support from government, particularly through investment in trade promotion. If we are to win the ‘economic war’ that the Prime Minister has described on numerous occasions, we need both a more enterprise-friendly environment and a large-scale increase in the resources and attention dedicated to supporting international trade.”
Commenting on the report’s results, Phil Couchman, CEO of DHL Express UK and Ireland, said: “It’s really encouraging to see SMEs forging the way for British businesses overseas, particularly in this time of economic uncertainty.
“The Export Index shows there are clearly still opportunities for British businesses to expand into overseas markets, as it remains at historically high standards, a fundamentally positive indicator.
“As the eurozone crisis continues to erode both business and consumer confidence, those businesses that are looking to trade internationally should be taking advantage of the potential of Asia and emerging territories. The government has estimated that by 2030, Asian consumers’ spending is expected to be around 32 trillion dollars annually or about 43% of worldwide consumption – a major opportunity for businesses of any size.”