Chamber News

• In the three months to May 2012 unemployment nationally fell by 65,000, compared with the previous quarter, while employment rose by 181,000
• National youth unemployment fell by 10,000 but remains above one million. The number of people unemployed for over two years rose by 18,000, to its highest figure since 1997

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

“The latest employment figures are encouraging following recent pessimism about the UK economy. But some causes for concern still remain. The number claiming jobseeker’s allowance is up slightly, the increase in the number of people unemployed for more than two years is worrying and youth unemployment remains high. Nevertheless, it is clear that the private sector is creating jobs while public sector employment is shrinking.

“These figures highlight the puzzling contrast between continued growth in jobs and the decline in GDP, which is being reported by the ONS. Although economic growth remains weak, it is difficult to believe that the economy has been in recession since the final quarter of 2011. Although many commentators expect the ONS to announce a third consecutive decline in GDP next week, it is important to sustain confidence.

“But many uncertainties lie ahead. Continued difficulties in the eurozone create challenges for our exporters at a time when austerity measures are putting downward pressure on domestic demand. Unemployment is likely to increase further over the next twelve to eighteen months, but the peak will probably be lower than the 2.9m figure predicted in our latest forecast. These positive job figures must be supported by important policy measures, such as more deregulation and creating a state-backed business bank to help businesses drive recovery.”

The Bank of England Agents’ summary for July 2012 was issued today, outlining that there had been a slowing in the annual growth rate of consumer demand and that confidence had dipped due to worries about the economic outlook. To read the full report click here.

• “It is encouraging that two MPC members voted against the £50bn increase in QE”, says David Kern

Commenting on the MPC minutes published today by the Bank of England, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

“While most commentators expected the recent decision on an increase in QE to have been unanimous, we are encouraged that two members of the committee voted against this move. The argument for increasing QE was questionable in our view, although the impacts of the eurozone crisis on the financial system make it understandable. The new funding for lending scheme could potentially be more important for businesses as long as the banks pass on the lower cost of funds to their customers. However, we are convinced that a state-backed business bank is necessary to allow viable businesses with growth potential to obtain funds on reasonable terms.

“No further QE increases should be considered for the time being unless the UK financial system faces new major threats. QE is not risk free and the longer-term inflation dangers associated with it cannot be ignored. It should certainly not be used to try and prevent inflation from falling temporarily below target next year. After a long period when above target inflation has heightened the squeeze on businesses and consumers, lower inflation will now support domestic demand in the economy and this should be allowed to continue.”

• “What’s clear is that these announcements are long overdue. Business expects speedy action, rather than yet more unfulfilled promises.”

Commenting on the announcement of new guarantee schemes to kick-start infrastructure projects and support exports, Caroline Williams, CEO Norfolk Chamber of Commerce, said:

“Ministers’ newfound willingness to use the government’s balance sheet to kick-start stalled projects is a positive development, particularly as the BCC has called for urgent action on infrastructure for many months. The business community will be heartened to see the Treasury showing signs of innovative thinking on infrastructure financing. With luck, this indicates officials are willing to consider more radical funding options for bigger and longer-term projects.

“For too long, businesses have had to put up with deficient transport infrastructure that adds delays, uncertainty and cost. With traffic snarled on the A303 in the South West, the A1 and A19 in the North, and the A14 between the Midlands and East Coast ports to name a few, ministers must use both their chequebook and their legal powers to get Britain moving. The new scheme must also move swiftly to kick-start housing and energy projects – not tie them up in a long and complex application process.

“What’s clear is that these announcements are long overdue. The question must be asked: when infrastructure investment provides immediate confidence, followed by jobs and greater competitiveness, what has taken Whitehall so long? Business expects speedy action, rather than yet more unfulfilled promises. Only visible results on the ground will make this announcement, and the government’s National Infrastructure Plan, worth the paper they’re written on.”

On long-term export guarantees:

“The announcement of £5bn in long-term export guarantees will help many British firms seal significant deals overseas. This has the potential to support not just major companies, but many hundreds of others in their supply chains across Britain.”

Channel 4 is looking for businesses to take part in a new series aimed at helping small, independent, consumer-facing businesses improve profits and build a stronger customer base.

Do you run an independent consumer-facing business that is struggling to survive or expand? Channel 4 are keen to hear from all types of businesses, from independent tour operators to electronic shops, car dealerships to spas; motorway service stations to holiday parks and tourist sites. Whatever your business, if you’re struggling to make it a success we’d like to hear from you!

As part of this programme the successful applicant will receive advice and guidance from one of the UK’s Leading consumer-facing business experts to help you give customers great value-for-money and increase your profits.

The successful applicants will receive advice and guidance from one of the UK’s leading business experts. For more information, click here.

CCI administers ProjectConnect, an online system designed to provide direct web-based communication between buyers and suppliers.

The ProjectConnect website lists procurement opportunities for major Western Australian projects.

For further information contact Chris Pretorius, chris.pretorius@cciwa.com

The Chamber of Commerce and Industry of Western Australia (CCI) works with the West Australian Corporate Acquisition Register (WACAR) to facilitate foreign business investment in Western Australia.

Strong economic credentials and a stable business environment have made Western Australia increasingly attractive to foreign investors. Foreign companies are looking for exposure to the mining and resources sector in Western Australia to take advantage of the general economic prosperity of the State.

WACAR works for and on behalf of purchasers to identify suitable acquisition targets, negotiate the transaction and locally manage the transaction process.

Further information can be provided by Keith Seed, Manager of International Trade Services, Tel: +618 9365 7637 or keith.seed@cciwa.com

Targeting the Australian market? Australia offers opportunities for new overseas suppliers because it depends on a wide range of imported industrial and consumer products. The market is also very open to overseas suppliers – there are no import quotas and most import duties are 5 per cent (general rate), and zero for eligible developing countries.

Take a look at a guidecovering the Australian market, which outlines the key factors that must be considered by potential overseas suppliers if they are to take advantage of the opportunities in this competitive market.

Thanks to advances in technology, we can now get up to the minute news on the move, order our shopping and bank online, or video-call friends and family overseas.

So it is perhaps no surprise that the way we manage our healthcare is also changing as technology develops.

According to research commissioned by Best Doctors people are increasingly turning to the internet for health related information, with 89 per cent of survey respondents saying they would go-online following diagnosis by their doctor.

Another study, which surveyed consumers and healthcare executives in the US, found that one in three people were using social networking sites such as Facebook and Twitter for health related issues.

Keith Pollard, Managing Director of Intuition Communication, said that social media had altered the ‘patient-provider dynamic’: “The web has changed the power of patient voice, the involvement of patients in decision making and their treatment.”

So while we can ‘like’ our friends’ status updates and photographs on Facebook, increasing numbers are also locating and commenting on health services and treatments via the web, thanks to online social forums where people discuss everything from dentistry to diabetes.

Chamber Primary Health Plan provider Westfield Health recognises the importance of providing its policyholders with easy and immediate access to information and services.

The Chamber Plan, which is available to all members of Norfolk Chamber of Commerce, provides money back towards the cost of everyday healthcare such as dental treatment, eye care, physiotherapy and diagnostic consultations, as well as providing fast access to scanning facilities and counselling services.

Employees can manage their account online by logging into the My Westfield area of Westfield Health’s website. They are able to view and amend their personal details, check benefit balances and view their claims history.

Additionally, Westfield offers a Text Messaging Service and iPhone app, where employees can check their benefit balances.

The Chamber Plan also includes an online Personal Health Risk Assessment, which gives employees an easy to understand and visual representation of their current health status.

Based on the unique Q-Score™ system, the assessment helps employees to understand how their lifestyle impacts on their health, as well as to identify steps they can take to improve their health and wellbeing and track their progress along the way.

Derived from the aggregated and anonymised results of employees’ Health Risk Assessments, a Company Health Report enables employers to identify any prevailing health risks affecting their workforce.

Westfield has also enhanced its existing GP telephone consultation service DoctorLine by introducing new webcam consultation service. The online facility will enable employees to see and speak to a qualified UK GP during normal surgery hours, while giving doctors the opportunity to use visual aids and diagrams to clarify the advice they give.

For more information about the Chamber Plan, visit www.westfieldhealth.com/chamber or call 0845 602 1629, available 8am to 6pm, Monday to Friday.

William Hague last week announced a review of the balance of the EU’s competences (the power to act in particular areas conferred on it by the EU Treaties).

The review will look at the EU’s competences, how they are used, and what that means for Britain and our national interest.

Make it in Great Britain is an exhibition on show at the Science Museum in London, celebrating the importance and success of British manufacturing. From food and drink to pharmaceuticals; from creative industries to construction, the exhibition will feature some of the most exciting Great British innovations happening today.

The FREE exhibition will feature some of the most exciting great British innovations of today, firmly dispelling the myth that Britain ‘doesn’t make anything anymore’.

At the exhibition you get to see these ideas up close and understand how they will impact our lives. You’ll also learn about some of the amazing career opportunities these industries have to offer and with their interactive displays, there’s something for everyone to enjoy.

Why not go along and be inspired by British manufacturing between 24 July and 9 September. Click here for more information.

Despite the current economic crisis, the EU and its Member States have once again been confirmed as the largest providers of Aid for Trade in the world.

In fact, the EU accounted for around a third of total worldwide Aid for Trade in 2010, maintaining the record amount registered the year before and totalling some €10.7 billion in committed funding.

Aid for Trade helps developing countries to develop trade strategies, build trade-related infrastructure and improve their productive capacity in order to encourage growth and reduce poverty.

Activities supported by the EU include helping countries to build their capacity to trade through training and technical co-operation measures such as supporting national trade priorities, adjusting legislation on trade, and providing technical assistance for studies on trade-related subjects.

Sub-Saharan Africa continues to be the main beneficiary of EU Aid for Trade.

Development Commissioner Andris Piebalgs said: “Increasing and improving trade opportunities is part of the solution towards inclusive and sustainable growth of developing countries. Indeed, no country has ever lifted itself out of poverty without trade, at regional and international level.”

Earlier this year, the European Commission adopted a range of proposals to make trade and development instruments work hand-in-hand to help reduce poverty across the world.

It proposed a number of ways to improve the effectiveness of EU trade and development policy, including reforming the Union’s preferential trade schemes to focus more on the poorest countries and stepping up negotiations on free trade agreements (FTAs) with developing country partners.

Trade Commissioner Karel De Gucht said: “The EU provides more trade-related development assistance than the rest of the world put together. This underlines our unwavering commitment to support developing countries’ integration into the global economy.”