Yesterday, local businesses were invited to hear an economic update directly from the Bank of England at a meeting held at the Chamber’s office in Norwich. A range of businesses attended the event including those from the manufacturing, retail and service sectors.
Tim Pike, the Bank of England’s Agent for the South East, provided an update on the national economy and discussed what the local economic picture looked like from the perspective of the businesses around the table. Business confidence; investment and employee recruitment expectations; quantitative easing; and Brexit were amongst the topics raised at the meeting.
Feedback from the businesses highlighted that whilst an actual Brexit deal is still at least 2 years away, the business community intend to drive their businesses to success and invest for future growth and jobs.
Chantry Place Norwich, home to brands including Flannels, Frasers, Urban Outfitters and Zara, is welcoming some new pop-ups to the Centre.
Thistle Gem has returned until 31st January 2025 selling a variety of baseball caps, flat caps, pompom beanies, scarves and gloves. Each item boasts a unique design and style, making them ideal gifts.
The Calendar Club is back selling a large range of calendars, diaries, planners and books. From football themed calendars to music stars and TV themes, there is something to suit every taste and interest. Find them on the lower ground floor from 23rd September 2024 until 5th January 2025.
Lovey Dovey is at Chantry Place from 30th September until 19th January 2025 on the lower ground floor, selling its popular range of charms, bracelets, anklets and necklaces.
Sense Aroma will be on the lower ground floor from 7th October until 12th January 2024 selling a luxury range of diffusers and fragrance oils, including ultrasonic aroma diffusers and beautiful Himalayan salt lamps.
Pollyfields will be outside on Chantry Square from 11th November until 24th December in a seasonal wooden hut, selling naturally-inspired luxury, handcrafted garlands, wreaths and decorations – perfect for Christmas decorations and presents.
Paul McCarthy, general manager at Chantry Place, said: “This year has been a fantastic year at Chantry Place – we’ve had some amazing retailers and restaurants join us this year, including Flannels and Rosa’s Thai, and now we have even more to offer visitors when they visit with our seasonal pop-ups. From jewellery to Christmas gifts and decorations, our seasonal pop-ups offer even more choice and variety when shopping. We know how popular Lovey Dovey has been when it has been a pop-up inside our Urban Outfitters store, so it is fantastic that they are joining us this year.”
All pop-ups will be open during the main Chantry Place opening hours.
DP World London Gateway, which has been described as the UK’s most integrated logistics facility, has now added Mediterranean Shipping Company’s (MSC) West Africa Service to its list of weekly services.
This provides a fast link for shippers between the UK and Northern Europe and Senegal, Ivory Coast and Nigeria, with transit times of under 22 days to ports of call in those countries, including Dakar, Abidjan, Lagos and Tema.
James Leeson, the DP World London Gateway’s Head of Port Commercial, said: “Shippers using this MSC service to export to West Africa can be assured of the very best in port service, with access to our Where’s My Container application, class-leading resilience and reliability and use of the very best port technology, all of which ensure we’re well placed to offer greater speed, visibility and improved supply chain certainty.”
The port now has 15 weekly services calling into the terminal, with direct, deep-sea access available to and from more of the world’s locations than any other UK container port.
Michael Collins, UK Commercial Director at MSC, explained that, following the reconfiguration of its West African services it has decided that its UK link to West Africa should DP World London Gateway.
“This will enable us to offer market-leading, direct transits and enhance our nationwide coverage while improving our London and South-East services,” he went on.
Located just 10 miles from the M25 and with a rail terminal providing direct services daily to all of the UK’s major rail freight hubs, the terminal, which opened in November 2013, is already handling cargo from across the globe.
Since the financial crisis, exports have grown at a disappointingly slow rate, with trade volumes globally running at over 20% below their pre-crisis trend.
That represents a much weaker recovery than in the wake of previous economic downturns according to a new report from the EEF, the manufacturers’ organisation: Global Trade – Run Aground or Structurally Sound? (available via www.eef.org.uk).
This reveals that export volumes have grown at an annual average rate of 1.3% per year, compared with growth of 5.1% in the decade leading up to the financial crash.
Sluggish demand is only partly responsible for the low growth rate, the EEF suggests, citing international bodies such as the Organisation for Economic Co-operation and Development (OECD) and the International Monetary Fund (IMF) for evidence supporting that view.
These organisations have highlighted protectionism, lack of trade finance, and interventions by national governments in support of local businesses as factors which are holding back the recovery of world trade flows.
This perspective is at odds with many short-term business surveys hailing the benefits of a recovering global economy, the EEF points out.
In reality, it claims, many export destinations are not as open to trade as they were before the financial crisis.
Examples cited include: some 17% of exporters to China have seen their trade affected by moves to support local businesses while 10% of companies selling to the USA have experienced an increase in tariffs.
Such protectionist policies may have been justified in the wake of the crisis, the EEF accepts, but their ongoing impact – and the potential for them to be further ramped up – raises questions about trade growth potential in the UK.
The Office for National Statistics (ONS) wants to hear the views of traders and other interested parties on its plans to provide more detailed estimates of UK trade data, particularly for sub-national breakdowns with regard to the export of services.
As part of the UK trade development plan, and the Supporting Devolution programme, the ONS has carried out experimental analysis analysing sub-national trade.
In July 2016, it published the first estimated values of service exports from each region and country of the UK covering the period 2011-2014. Then, in May 2017, it followed this with figures for 2015 and finally, in July, it published additional analysis breaking down by country of destination of exports.
“This new set of statistical outputs is designed to support local-level decision and policy-making,” the ONS explains, “particularly in light of recent events including the UK’s declaration to leave the EU, the publication of the consultation on the Industrial Strategy, and continued devolution negotiations.”
This is the first time estimates of service exports at sub-national level have been created and feedback is wanted to determine whether the outputs are meeting users’ requirements, whether the methodology is appropriate and to consider the future development of the estimates.
Details of the consultation, including access to supporting documents can be found at consultations.ons.gov.uk; the deadline for submitting comments is 8 September 2017.
We’re thrilled to
announce a significant step in the growth of Leading Business Services as we further
expand our presence into the Midlands, with the addition of three highly
experienced professionals to our team, based in Nottingham.
Having joined us in
April 2025, Michael Roome brings nearly 30 years of experience in the Business
Recovery and Insolvency industry. A qualified Insolvency Practitioner, Michael
has a wealth of knowledge in supporting both individuals and businesses through
financial difficulty. He also works closely with lenders to develop strategies
that mitigate risk and maximise recoveries.
Also joining Michael
are Ross Welham and Kimberley Wapplington — both bringing vast experience and
proven capability in the insolvency and restructuring space. Their combined
expertise further strengthens our growing team and enhances our capacity to
support more clients through challenging times.
This expansion is an exciting milestone for
Leading and reflects our continued growth, both in reach and reputation. We’re
delighted to welcome Michael, Ross and Kimberley on board.
Your Partner in
Planning for a Stronger Tomorrow
At Leading Business
Services, we believe that no business should wait until a crisis hits.
Whether you’re
experiencing financial strain or simply want a health check to strengthen your
foundations, our business advisory team is here to help.
You can contact our friendly and experienced
team on 01603 552028 or email us at mail@leading.uk.com.
Norfolk-based RQ Capital is celebrating its tenth year of lending – in the last ten years, the firm has completed over 200 loans with a total value of £151m. This has funded the development of 750 homes and assisted in planning permission for a further 1,000 homes.
RQ Capital lends money to developers across England and Wales from its headquarters in East Anglia, helping smaller property developers to secure the funding they need to build and complete projects.
Founded by Robert Gurney in 2012, the firm has created an excellent niche of providing bespoke property finance for smaller property developers. Robert commented: “RQ Capital is a property lending business that has the feel of the old traditional bank – in the sense that we aim to provide a personal and efficient service.
“With the uncertain economic times we are all facing, our clients are grateful to have that personal touch and be able to discuss their options with a friendly, expert team they can trust.”
George Craig, Director at RQ Capital, said: “As a small team we are immensely proud of the milestones we have achieved together over the past decade, and we are very positive about the future of the business.
“We work incredibly hard to provide exceptional customer service and this has helped us to grow and keep growing. To achieve further success, we plan to raise awareness of our services by increasing our digital presence and marketing activity.
“We are proud to be headquartered in Norfolk and to offer our services as a national provider. Locally we have access to a great network of property developers. We are also members of the Norfolk Chamber of Commerce, partners of the NFCI and Constructing Excellence in Norfolk.”
To celebrate the company’s ten-year anniversary, the business has launched a new website. Find out more here: https://www.rqcapital.co.uk/
Image provided by RQ Capital – The RQ Capital team pictured (left to right) Stephen Kenworthy Head of Finance, Paula Milligan Office Manager, Robert Gurney Managing Director, and George Craig Director.
The Arab British Chamber of Commerce, London have issued new regulations received from the Embassy of the Republic of Iraq for exempted goods or deferred payment goods that will be exported to Iraq.
The new regulations require that the Consignors should have the following:
The Goods & Commodities is under the consignee name.
The Goods & Commodities that are exempted from the duty taxes and customs tariffs should have the name of the Consignee witht he phrase “Not for Sale” printed in clear label for each item.
The Goods & Commodities should be related to the Consignee type of business.
In this week’s Business Insights Chat, Ian Fitch speaks to Mark Ferguson, managing director of Castle Colour Packaging, a specialist packaging manufacturer in Norwich. They produce packaging for well-known brands including Pritt Stick and Eat Natural, among many others. The business has a focus on being the best it can be, while leading in sustainability and recyclable products.
Mark’s insights into lockdown offer a unique perspective in this series, as they were identified as an essential business at the start of the first lockdown. They were able to continue trading, albeit with new safety measures in place for staff, while also having to adapt to new and changing demands for their products. He describes how it was all about feeling safe at work and staying efficient.
Mark reflects on their government COVID spot check, and how the resilience and commitment of his team played a huge part in their successes during the last year. He also explains the measures that the company put in place to aid the wellbeing of the team.
He discusses the opportunities they identified for Research and Development through their work on sustainability; what his personal weaknesses are, and how he strives to make everyone around him better than him; the benefits of having a non-executive director on your board; how promoting from within is good for business; how running a business is like playing a game of rugby; and how experience outside family businesses is key, citing his time as a young man spent working for McDonald’s as a fantastic opportunity to learn about processes and discipline.
Mark’s personal journey, as a man at the top of a key part of the ‘pandemic economy,’ and the success he has had building Castle Colour, make for a fascinating listen.
You can listen to Business Insights Chat on Apple Podcasts, Spotify, or wherever else you get your podcasts. This is the last in this series of Business Insights Chat, so make sure you subscribe to our channel so you don’t miss out on the release of series 2 later on this year.
The B1149 Holt Road will be closed south of Horsford in the early hours of Wednesday, 9 August.
The road has to close to make way for the A1270 Norwich Northern Distributor Road dual carriageway and to allow construction of slip roads serving the major junction with the A140 Cromer Road. Work to break up the redundant section of Holt Road will begin immediately, and there will be no access through the site for cyclists or pedestrians.
All B1149 traffic, including cyclists, will be diverted via New Drayton Lane (opened in July) and Reepham Road to join the A140 Cromer Road at the Boundary Junction (reverse for northbound traffic). This diversion will remain in place until traffic can use the NDR dual carriageway and A140 junction to restore access to the A140 Cromer Road. It is expected to take up to three months to complete the junction.
The closure and diversion will put pressure on the surrounding network, including roads through Hellesdon and Drayton and on Church Street, Horsford. A number of measures have been taken for safety and to reduce delays, including:
Advisory signs (from Wednesday) on Holt Road at the Cawston roundabout (B1145) and the Shortthorn Road junction to reduce B1149 traffic.
Extension north of the 30mph temporary speed limit on the A140 Cromer Road to include the Church Street junction.
A variable message electronic sign on the A140 soutbound approach to the Church Street junction and 30mph speed limit..
Signs asking all traffic heading into Horsford along Church Street to turn left at the junction with Holt Road. Drivers heading north into Horsford will be able to loop around the New Drayton Lane roundabout. This should reduce peak hour delays.
Adjustment of traffic light timings at the Middleton’s Lane/A140 junction to allow for extra traffic from Reepham Road. (There is limited scope for adjustment at the Boundary Junction lights.)
Norfolk County Council and Balfour Beatty apologise for the unavoidable disruption to normal travel.
No reopening for vehicles, a quieter route for cyclists
Holt Road south of the New Drayton Lane roundabout will not reopen as a through-route for vehicles. Instead, the B1149 will be re-routed along New Drayton Lane to the NDR’s Drayton Lane Roundabout. Drivers will then be able to leave the NDR at the A140 junction, or continue on the dual carriageway to destinations east of Norwich Airport. This arrangement will ensure that the A140/NDR junction – where the A140 goes over the NDR, linked to the dual carriageway by roundabouts and slip roads – works as efficiently as possible. In particular, it will prevent the recurrence of a current problem where A140 traffic has to give way at the roundabout to all B-road traffic, often causing tail-backs on the A-road.
Once the NDR/Cromer Road junction is complete, cyclists will be able to use the closed section of Holt Road as a short-cut to the junction, where a cycle track will lead to a crossing point on A140 Cromer Road, from which point cyclists can use New Home Lane to Horsham St Faith, or the cycle route on the east side of the A140 bridge over the NDR.
The B2B Exhibition 2017 is the region’s premier business to business exhibition taking place on Thursday 12 October 2017.
Jake Humphrey, Sport Presenter was our special guest in 2016 with over 750+ business people attending the exhibition at Norwich City Football Club.
This year we are delighted to announce Steve Stone, Managing Director at Norwich City Football Club as our special guest who will officially open the exhibition and judge the best stand award. Steve was appointed as Managing Director in March 2017, having previously worked as the Club’s Director of Finance while also serving as interim Chief Executive on two occasions.
Steve will be officially opening the region’s premier business to business exhibition with over 750+ attendees. Steve will meet all 100+ exhibitors as he judges the prestigious Best Stand Award.
About Steve Stone
Steve was appointed as Managing Director in March 2017, having previously worked as the Club’s Director of Finance while also serving as interim Chief Executive on two occasions.First joining Norwich City in 2015, Steve previously held financial roles at Spirit Pub Company and Gala Bingo from 2005 onwards and is responsible for leading the business side of the Club.
Come along
There are limited exhibition stands remaining across the two floors of the exhibition with rates from £325+VAT. The event is FREE to attend. To find out more about The B2B Exhibition 2017 click here.
Alpha 7 Motorsport proudly supplied Caterham race cars for the first-ever “Sim-to-Track” event at Brands Hatch, in partnership with SIM Motorsport. This saw five novice drivers transition from simulator training to experiencing real circuit driving on the track. Despite challenging weather conditions, ranging from heavy rain to a drying circuit, the participants showcased remarkable skill and enthusiasm.
Throughout the day, drivers received expert coaching, familiarizing themselves with the cars and mastering racing lines. The event generated a buzz of excitement, with feedback like, “This is the best thing I’ve EVER done!” and “I’ve caught the racing bug and will be booking my ARDS!”
For those inspired by our drivers’ achievements, Alpha 7 offers personalised driver development programmes to help you take the next step in your motorsport journey. Contact us to learn how we can help you hit the track and achieve your racing goals.
SIM Motorsport is the UK’s leading race car simulation centre, offering high-spec racing experiences. Equipped with the FIA-licensed D Box Haptic suspension system, their simulators are designed to replicate the feel of real race cars.