Commenting on the government’s announcement that people on low incomes in Coronavirus hotspots in England will be able to claim up to £182 if they have to self-isolate, BCC Director General Adam Marshall said:
“We’ve called for additional income support for those required to self-isolate for some time. Businesses will want this trial to be expanded quickly across England and throughout the UK, increasing the rate of pay if necessary, to ensure compliance with the requirement to self-isolate and in turn reduce the spread of the virus.
“Ministers must also act to support the many businesses that, through no fault of their own, have been force to close or seen substantial loss of income due to localised lockdowns or restrictions.”
The UK Government has recently published a new Border Operating Model that will change the way in which goods are imported to and exported from the UK from 1st January 2021.
At present businesses have free movement of their goods into/out of Europe, however on 01 January 2021, you will need to produce international trade documentation for all your products both imported and exported to/from the EU. The upshot is that there will be a significant increase in costs for all businesses to process their goods into and out of the UK. The British Chambers Trade Facilitation Director recently wrote an article that highlighted that changes coming: https://www.norfolkchamber.co.uk/news/brexit/no-more-transition-uk-border
To ensure that your business is ready to meet the new import/export regulations on 01 January 2021, you need to have considered the following ten key areas:
Who is currently moving your freight and who do you currently use to process your customs declarations?
Who’s currently holding the liability for your declarations? (direct/indirect representation)
You may already be using a freight forwarder and they will be able to offer you advice and support, alternatively Norfolk Chambers have the expertise to handle your customs declarations and stand ready to help support you in navigating the coming changes, please do ask us for more information.
Do you have an international team? What is the level of expertise in that team?
When did you last review or check your commodity/tariff codes?
Norfolk Chambers are running several international trade training courses that will help you and your team to understand and prepare for 01 January 2021: https://www.norfolkchamber.co.uk/training.
We have also teamed up with the British Chambers to deliver a series of Global Webinars that will also provide insight and knowledge into future international trade. The first two are scheduled for September:
You will also need to ensure that you are fully aware of all your commodity/tariff codes relevant for all your products. Again, you may be using a freight forwarder and we would recommend that you discuss the above with them on an urgent basis. Alternatively, we would be very happy to help you.
What is the likely volume of your imports/exports from the EU?
Which ports/airports do you use?
Do you have your own deferment account with HMRC?
Are your imported goods liable for excise duty?
Do your import/export goods require licences, health certificates or dangerous goods notifications?
You will need to declare all goods that you import/export to the EU. You will also need to arrange clearance of those goods for each port/airport. You may have freight forwarders in each location that can do this for you, alternatively, Norfolk Chambers can clear your goods at any port/airport in the UK on your behalf. We also have the ability make arrangements for you to use our deferment account if that is required.
Norfolk Chambers have the international trade expertise to ensure that you and your business are fully prepared and we are here to help you to navigate through the new regulations to make your Brexit transition as smooth as possible.
To talk to our specialist team and to find out more please contact export@norfolkchambers.co.uk or call 01603 729706.
If you’re a customs agent or your company uses agents and intermediaries to trade with the EU you need to understand how to meet customs requirements fast and efficiently after the end of the transition period.
HMRC has made record funding of £50 million available to enhance its Customs Grant Scheme. From 29 July 2020, organisations can apply for funding to reimburse a number of costs associated with increasing their capacity and enhancing their ability to complete customs declarations, ahead of the new rules from January 2021.
Businesses can apply for funding for recruitment, employee training and IT, in preparation for additional customs declarations. Eligible organisations include traders and customs intermediaries (such as customs brokers, fast parcel operators and freight forwarders) who make or intend to make customs declarations for their own goods or on behalf of others. Organisations which recruit, train and place apprentices into customs intermediaries or other organisations which undertake customs declarations activity are also eligible to apply.
All eligible organisations which are currently and have been based in, or with a branch in, the UK for at least a year can apply for all elements of the grant.
This funding can be used for the following courses:
The Chambers Quarterly Economic Survey (QES), the UK’s largest independent business survey, is open today (Monday 24 August 2020) for three weeks.
With the UK officially in a recession and the impact from the phasing out of the furlough scheme starting to be felt, it is therefore more important than ever that both the Chancellor and the Bank of England hear from businesses just like yours.
How has your business performed in the last quarter, what do you see as the challenges and opportunities going forwards? How confident are you about your financial position, your workforce and your future orderbook?
Without this vital local and regional knowledge they cannot make the right decisions and put relevant support mechanisms in place that will ultimately impact on you and your company.
The QES is anonymous, open to anyone and only takes a couple of minutes to complete online.
We need your input, if you only take one survey, then please make it the QES
Join us as we launch our brand-new international trade country focus programme, in September 2020.
This exciting new programme brings together industry figures, government representatives and BCC partners from across the world. It will provide businesses with all the insights, advice and answers they need to fully understand the implications of trading with major international markets that have been identified as priority trading partners for the UK.
Each month will consist of two parts:
Part 1 – Global Leader Insights: a strategic overview
This will be a strategic discussion about current/future trade relations with a senior government representative from the market being featured, moderated by Dr Adam Marshall, BCC Director General.
Part 2 – Global Panel Insights: a deeper dive
A more in-depth discussion with leading local experts to allow participants to:
Explore markets and key sector opportunities to help businesses grow internationally;
Access information, advice and answers to perceived barriers for exploring or growing in markets around the world.
Together these two parts will give businesses a thorough understanding of the implications and benefits of trading in major overseas markets.
The programme schedule is as follows:
September: USA month
October: Australia month
November: Japan / Northern Asia month (Japan, China, Hong Kong)
December: UAE month
Please see links below for the September, USA month, virtual events:
Millions of self-employed people whose livelihoods have been affected by coronavirus are now able to claim a second payment of up to £6,570 – as the government continues to help drive the UK’s recovery.
Those eligible for the Self-Employment Income Support Scheme (SEISS) can now claim a second grant covering 70% of their average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits and capped at £6,570 in total, with the money set to land in their bank accounts within six working days of making a claim.
Anyone whose self-employed business has been adversely affected by coronavirus since 14 July 2020 is eligible for the scheme.
Chancellor of the Exchequer Rishi Sunak said:
“Our self employment income support scheme has already helped millions of hard working people, whose get up and go drive is crucial to our economy.”
“It means that people’s livelihoods across the country will remain protected as we continue our economic recovery – helping them get back on their feet as we return to normal.”
The eligibility criteria remains the same as for the first grant, with people needing to have had trading profits of no more than £50,000, making up at least half of their total income.
The SEISS is part of a comprehensive package of support for self-employed people, including Bounce Back loans, income tax deferrals, rental support, increased levels of Universal Credit, mortgage holidays and the various business support schemes the government has introduced to protect businesses during this time.
The Chancellor has also set out the government’s Plan for Jobs to support, protect and create jobs up and down the country – including in the construction and housing sectors through funding to decarbonise public sector buildings and our Green Homes Grant.
Guidance on how the grant works can be found here.
Results from the latest BCC Coronavirus Business Tracker reveal that business conditions improved only moderately in the weeks since the UK economy suffered an historic contraction in Q2 2020, with firms still reporting high levels of reliance on government support schemes to help stem cashflow issues.
38%of firms reported improved revenue from UK customers
More than 1 in 3 of businesses say they have three months or less worth of cash in reserve
Chambers continues to call for significant interventions to protect businesses and job
The leading business organisation’s tracker survey, which serves as a barometer of the pandemic’s impact on businesses and the effectiveness of government support measures, received 502 responses during the week from 3rd to 7th August and is the largest independent survey of its kind in the UK.
The unprecedented decline in business conditions seen during the second quarter is now levelling off, but firms still face difficult trading conditions.
Mixed picture on revenue
The number of firms reporting a rise in revenue from UK customers rose to 38 per cent, from 34 per cent in the previous tracker and is up significantly from the series low of 3 per cent recorded during the second quarter. However, despite this progress, the number of respondents reporting a rise in UK revenue is still not exceeding the number reporting a decrease (also 38 per cent).
Business to consumer firms were more likely to report improvements in UK revenue compared to other sectors, although these gains are from a low base due to lockdown restrictions, later reopening, and pent-up consumer demand.
A smaller proportion of firms (22 per cent) are reporting a rise in revenue from overseas customers than from UK customers (38 per cent) amid continued disruption to global commerce and trade flows.
Cash concerns
While there was a slight improvement in the number of respondents reporting a decrease in their cash reserves (50 per cent compared to 55 per cent), it remains more than double the number reporting an increase (22 per cent). Despite the gradual reopening of the economy and more firms seeing a rise in revenue, 39% of businesses say they have three months or less worth of cash in reserve.
Of those reporting an increase in their cash reserves, a significant number of businesses cited government support schemes as a driver of this, with the number of firms using the furlough scheme (34 per cent) and the various loan schemes (30 per cent) and grant schemes (16 per cent) still significant. 68 per cent of firms mentioned new business or customer demand as a factor.
With government support schemes set to wind down in the coming weeks, and with the potential reintroduction of lockdowns – either localised or national – it remains unclear what further support, if any, firms will receive when schemes end.
Commenting on the results, BCC Director General Adam Marshall said:
“While some firms are seeing improvements in trading conditions, we are still very much in the eye of the storm, with further turbulence ahead.
“As the government’s emergency measures begin to wind down over the coming weeks, and with the prospect of further local lockdowns still very real, businesses across the UK are going to need further support to weather uncertainty over the coming months.
“Slashing the jobs tax by taking steps to reduce the burden of employers’ National Insurance contributions, big new incentives for business investment, and targeted support to help businesses placed under local lockdowns all need to be put in place now. Ministers must not wait until the economic storm is once again at fever pitch before they act.”
Norfolk Chambers of Commerce, Norfolk’s leading provider of international trade training are delighted to announce the launch of their new training programme.
Responding to the demand for training, the International Department has created a programme of virtual training courses accredited by the British Chambers of Commerce. The “core 10” courses can either be attended as standalone training or as a longer training course. For those who complete six or more training courses, they will achieve a nationally recognised Foundation Award in International Trade.
The training is ideal for those looking for further education or training for their team and those preparing for Brexit.
Due to the pandemic, the chambers have pivoted their courses to be delivered virtually. This comes with huge benefits, including no travel time to the training centre, and available to those based across the UK (not just Norfolk).
The courses range from half-day to full-day courses and have been designed to be engaging whilst providing all the practical knowledge you need for the chosen course topic.
The courses are suitable for anyone involved in the export or import process such as; accounts, purchasing/buyers, freight forwarders, shipping, marketing, customer services, goods inward staff and many more.
A previous guest from the Understanding Exporting training said, “The course is very informative and I am walking away with a lot more knowledge. A great understanding of exporting.”
The training starts on 09 September and continues throughout 2020. New dates for 2021 will be released later on this year.
The following dates for 2020 have now been released;
Commenting on GDP figures for Q2 2020 published today by the ONS, British Chambers of Commerce Head of Economics Suren Thiru said:
“The UK suffered an historic contraction in economic activity in the second quarter as the coronavirus closed large parts of the economy. The dominant services sector suffered particularly badly in the quarter, with consumer-focused firms hit hardest by the pandemic.
“While there was a pick-up in activity through the quarter from the historically weak April outturn, this is more likely to reflect the release of pent-up demand as the economy gradually opened, rather than an indication of a sustained revival.
“With restrictions steadily easing, the second quarter is likely to prove to be the low point for the UK economy. However, the prospect of a swift ‘V-shaped’ recovery remains remote as the recent gains in output may fade over the coming months as the economic damage caused by the pandemic increasingly weighs on activity, particularly as the government support measures wind down.
“Against this backdrop, bold action is needed to immediately inject confidence back into the UK economy. This should include supporting businesses to retain staff through a cut in employer national insurance contributions and targeted support to help businesses placed under local lockdowns.”
The UK Government is running a #ShopLocal week this week, as part of its #EnjoySummerSafely campaign. The week aims to celebrate the British high street – encouraging customers to come back to their safe local shops, supporting the local economy and local jobs.
A toolkit has been made available for busiensses to help with marketing the campaign. Access the toolkit here.
Commenting on the ONS labour market figures for August 2020, published today, BCC Head of Economics Suren Thiru said:
“While the headline data continues to lag behind the reality on the ground, the decline in the number of employees on payrolls and hours worked is further evidence of the damage being done to the UK labour market by the Coronavirus pandemic.
“The furlough scheme has been successful in preserving millions of jobs. However, with firms continuing to face a perfect storm of increased costs, reduced demand, and diminished cash reserves, unemployment is likely to surge as the government support schemes wind down, unless action is taken.
“A significant spike in job losses would be a major drag on any recovery, stifling consumer spending and reducing the productive capacity of the UK economy.
“To help businesses recruit and retain staff, more needs to be done to reduce the overall cost of employment and prevent substantial redundancies. This could include significant expansion of the Employment Allowance and a cut in employer National Insurance Contributions.”
A virtual business recovery festival will provide two days of free training, workshops, panel discussions and advice sessions to help Norfolk and Suffolk’s businesses restart after the Covid-19 lockdown.
RESTART, on 29 and 30 September, will be free for any business or organisation to join. With two live streams on each day, the festival programme is packed with opportunities to learn something new, share ideas, get practical support and hear from a wide range of speakers.
Organised by New Anglia Local Enterprise Partnership, with support from the team behind the Norfolk Enterprise Festival, the RESTART business recovery festival builds on the two-county Economic Recovery Restart Plan which was launched at the end of June.
Confirmed sessions include:
Business grants and funding
Life after furlough – what next for your employees?
Top tips for marketing to new customers, including social media, video and copywriting
Making your business greener – how to assess and lower your environmental impact
Upskilling your workforce
Chris Starkie, Chief Executive of New Anglia Local Enterprise Partnership, said: “We’re committed to supporting local businesses to get back on their feet after some of the toughest months they will ever have faced.
“Bringing together local partners and businesses to create two days of inspiring, exciting and practical sessions – hosted virtually and free for any business to watch – will help us to kickstart our recovery and give business owners the ideas, confidence and support they need to come back stronger.”