A new wave of talent is set to embark on their professional accountancy training at Larking Gowen, a leading firm in East Anglia. On Monday, 2 September, 29 ambitious students will join the firm. The new intake is testimony to the firm’s commitment to nurturing future talent.
This diverse group of students includes school leavers, university graduates and placement year undergraduates who will be bringing their skills to Larking Gowen’s offices in Norfolk, Suffolk and north Essex, working towards a variety of qualifications in accountancy and taxation, as well as other specialised qualifications.
Julie Grimmer, Managing Partner at Larking Gowen, commented, “The students join one day before my 40th anniversary with the firm. The whole profession has changed greatly since I started my training. We are proud to still be offering comprehensive training programmes for large numbers of new trainees. I warmly welcome this year’s cohort and look forward to seeing them realise their potential as individuals.”
Julie emphasised that Larking Gowen’s training programmes are about more than just passing exams. “Our commitment to our students goes beyond their initial training. We offer a career-long development path, providing a wide range of experiences within the business. Our experienced professionals will mentor and support them at every stage of their journey.”
Reflecting on her own career, Julie added, “I hope that, like me, our new trainees will build long-lasting careers at Larking Gowen and make the most of the opportunities that lie ahead.”
Thiriving Great Yarmouth businesses are invited to step into the spotlight by entering the Spirit of Enterprise Awards 2017, which marks its 10th anniversary this year with the introduction of a special category, Business of the Decade.
Considered the most prestigious annual celebration of business excellence in the Great Yarmouth borough, the annual awards scheme is organised by enterpriseGY, Great Yarmouth Borough Council’s business support service.
Businesses are encouraged to put themselves forward for the various awards by noon on Monday, October 16. The awards are free-of-charge to enter online at www.spiritofenterpriseawards.co.uk and finalists will be profiled in a supplement in the Great Yarmouth Mercury, with winners appearing in a further supplement.
The special anniversary category, Business of the Decade, is open to all businesses in the borough – large or small – regardless of whether they have entered the competition before.
The finalists and winners will be showcased in the press and at a glittering awards ceremony and gala dinner at the Town Hall on Friday, November 17. The media sponsors are the Great Yarmouth Mercury and The Beach.
The award categories are:
Business of the Decade
Great Manufacturing/Engineering
Great New Business
Great Business Growth
Great Business Idea Great Customer Services
Great Family Owned Business
Great International Growth
Great Investment in People
Great Community Contribution
The Spirit of Enterprise Awards help to highlight the borough’s many and varied successful businesses, supporting one of the council’s priorities, which is to work with partners to help champion and enable economic growth and job-creation in the area.
In a joint statement, the council’s political group leaders, Cllr Graham Plant, Cllr Kay Grey, Cllr Trevor Wainwright and Cllr Adrian Myers, said: “The Spirit of Enterprise Awards are this year celebrating 10 fantastic years of recognising and raising the profile of top-performing firms across the borough.
“This wonderful showcase of successful businesses helps to boost confidence in the strength of the local economy, helping to create favourable conditions for investment, sustainable growth and job-creation.
“For the businesses themselves, having the chance to shout about and be recognised for their achievements brings important benefits, including raising their stature and reputation, and boosting staff morale.
“There are lots of brilliant businesses across the borough and we look forward to some strong contenders this year for both the title of 2017 Business of the Year and the special anniversary category of Business of the Decade.
“We must also take this opportunity to thank the 2017 sponsors, including main sponsor Stephenson Smart, without whom this wonderful celebration of business excellence would not be possible.”
The British Chambers of Commerce (BCC) has today (Friday) slightly downgraded its medium-term outlook for the UK economy over the next few years. While the BCC has slightly upgraded its UK growth forecast for 2017 from 1.5% to 1.6%, its growth expectations for 2018 and 2019 have been cut from 1.3% to 1.2%, and 1.5% to 1.4% respectively.
The leading business group has slightly upgraded its forecast for 2017, driven by a moderately stronger outlook for consumer spending growth in 2017. While inflation remains elevated, it is expected to peak at 3% by the final quarter of 2017. However, inflation is still forecast to outpace average earnings until 2019, eroding real wages and weighing on consumer spending, a key driver of economic growth, in future years.
A weaker contribution from net trade and more subdued consumer spending growth were the main reasons for the slight downgrade to the BCC’s growth forecast for 2018. While the outlook for export growth remains unchanged, the rate of import growth is expected to increase, with little evidence that customers are switching from imported goods despite their rising cost. Falling real wages, and a slight weakening in labour market conditions, will see consumers rein in their spending in 2018. The slight downgrade for growth in 2019 reflects a lower contribution from net trade and weaker investment compared to our Q2 forecast.
The UK economy is expected to remain on a slow-growth trajectory for the forecast period, which reinforces the need for decisive action to boost the domestic business environment. The government must use the Autumn Budget to alleviate the burden of upfront costs facing companies, incentivise investment, and improve infrastructure.
Key points in the forecast:
UK GDP growth forecast for 2017 is upgraded to 1.6% from 1.5%, and is expected to slow to 1.2% in 2018 (downgraded from 1.3%), before rising to 1.4% in 2019 (downgraded from 1.5%)
Inflation of 2.7% is forecast for this year, and 2.9% and 2.5% in 2018 and 2019 respectively. The previous forecasts were for 2.9%, 2.8% and 2.5% respectively. Inflation is expected to peak at 3% in the last quarter of 2017, lower than our previous forecast of 3.4%, due to the slowing growth in input costs
Export growth of 3.1% is forecast this year,and is expected to slow to 2.9% in 2018 and 2.8% in 2019. This is unchanged from our previous forecast
Import growth forecasts have been upgraded to 2.9% in 2017, 1.5% in 2018 and 2.0% in 2019, from 2.5%, 1.3% and 1.8% respectively.
Consumer spending growth has been upgraded for 2017 from 1.3% to 1.5% but is expected to slow to 0.8% and 1.3% in 2018 and 2019
Business investment growth has been revised slightly upward for 2017 and 2018, to 0.4% and 0.8% respectively, but has been downgraded for 2019 from 1.2% to 0.9%, with some firms expected to bring some investment decisions forward
Our new forecast is that the first increase in UK official interest rates, to 0.5%, will occur in Q3 2018. This is two quarters later than predicted in our Q2 forecast
Looking at sectors, manufacturing has been upgraded from 1.2% to 1.4% in 2017 and is expected to grow at 0.7% and 1.1% in 2018 and 2019. Construction has been revised upwards for 2017, from 1.1% to 1.3% and is expected to grow at 0.7% and 1.0% thereafter. The services sector has been upgraded from 1.7% to 1.8% in 2017, and is forecasts to grow at 1.2% and 1.6% in the following years
Nova Fairbank, Public Affairs Manager for Norfolk Chamber said:
“While some Norfolk businesses report strong trading conditions, the overall UK economy is treading water, and there is no sign on the horizon of a return to healthier levels of growth.
“The BCC forecast suggests that the hoped-for rebalancing of the UK economy towards investment and export is unlikely to materialize in the medium term. The rising upfront cost of doing business in the UK, the uncertainty around Brexit, and the constraints created by skills gaps and below par infrastructure in Norfolk collectively outweigh any benefit arising from the recent depreciation of sterling. A cheaper currency does not automatically mean an export boom, no matter how some politicians and commentators will it to happen.
“The Norfolk business community needs to see action to boost confidence on two fronts: Brexit and the business environment here at home. A comprehensive Brexit transition deal, and a swift shift to focus on the future UK-EU trade relationship, are needed this autumn. Norfolk also needs an Autumn Budget that pulls out the stops to support business growth, at a time of significant uncertainty and change.”
Suren Thiru, Head of Economics at the BCC, said:
“The changes to our growth forecast suggest that the UK economy is likely to remain on a low-growth trajectory, and will be marginally smaller at the end of the forecast period than we predicted in the second quarter.
“It is increasingly clear that the post-EU referendum slide in the value of sterling has done more harm than good. Inflation is being driven by the sizable increases in the cost of imported raw materials over the past year, and is expected to remain a drag on consumer spending over the near term, with pay growth not expected to outpace price growth until 2019.
“The contribution of net trade to UK GDP growth is not expected to be as strong as we previously predicted, as we see little evidence that the depreciation of the pound is materially boosting the UK’s external position. While the outlook for UK exporters is for modest growth, imports are expected to grow at a faster rate than we previously forecast, with little evidence that consumers or firms are switching away from imports towards domestic alternatives despite their rising cost.
“Although there remains considerable uncertainty over UK’s growth prospects, the risks to our current outlook are to the downside. On Brexit, our forecast implicitly assumes a relatively smooth exit from the EU. A more sudden departure would be likely to trigger a far more marked weakening in economic conditions.”
Commenting on today’s Monetary Policy Committee (MPC) decision, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:
“British businesses welcome the MPC’s decision to increase the Quantitative Easing (QE) programme to £325 billion. Although the benefits are not immediately obvious to the business community, quantitative easing plays a key role in strengthening the financial system and stabilising the wider economy. In the face of difficult domestic circumstances and the ongoing crisis in the eurozone, the decision was a sensible one.
“But QE would be more effective for businesses if the MPC included the purchasing of private sector assets in the programme, instead of focusing exclusively on gilts. Furthermore, it should be supplemented by other measures to boost growth and improve the flow of credit to businesses as it will not achieve its full potential on its own. This means implementing an aggressive deregulatory programme alongside a package of credit-easing measures or an SME bank.”
Independent insurance brokerage and financial planners Alan Boswell Group has welcomed seven new apprentices to its Norwich head office this week. The new recruits will work towards the Level 3 Insurance Practitioner – Junior Broker Apprenticeship as part of the company’s long-running apprenticeship programme. Throughout their training, they will work across different departments, gaining valuable experience and insight into the insurance industry as well as benefit from the experience of the 400-strong Group’s employees.
The Group’s apprenticeship scheme was launched in 2010 to equip trainees with the skills and expertise to build successful careers in insurance, and of those who have completed the scheme, 24 still work for the Group. The company remains committed to investing in local talent and fostering the next generation of insurance professionals.
Gillian Anderson Brown, HR Director at the Group, said, “We are pleased to welcome this year’s group of apprentices to our Norwich office. Our apprenticeship scheme has always been an important part of our commitment to developing young talent and giving them the opportunity to learn and grow within the insurance sector. We look forward to supporting these apprentices as they begin their careers with us.”
The European Commission has published its position paper on Customs Related Matters Needed for an Orderly Withdrawal of the UK from the Union.
This can be found at ec.europa.eu and particularly concerns the customs status of goods that enter, leave or transit the customs and tax territory of the EU or the UK, where the movement starts before and ends on or after the withdrawal date.
It argues that the basic approach to be followed should be that the rules applicable in respect of an operation when it is commenced should continue to apply to that operation until its completion.
“It is for the declarant to demonstrate the status of the goods (Union or non-Union) before the date of withdrawal and the fact that the relevant movement or entry into a customs regime was initiated before the date of withdrawal,” the paper states.
The Commission also calls for the eventual Withdrawal Agreement to set out the appropriate treatment in relation to VAT and excise duties and licensing requirements in those circumstances.
Responding to the paper, the British Retail Consortium (BRC) said: “On VAT specifically, we note that the Commission has recognised the need for a supplementary agreement, which is essential given that any new demand for upfront payments of import VAT could cause major cash flow headaches and additional red tape for firms.”
The BRC also argued, to ensure that supply chains are not disrupted and goods can continue to move between markets as efficiently as possible, that deals between the UK and the EU are also required on security, haulage, transit and drivers.
Global export orders show signs of levelling off, the World Trade Organization (WTO) has warned.
The claim is based on new data published in its latest World Trade Outlook Indicator (WTOI) which provides “real time” information on developments in world trade compared to recent trends.
By combining several trade-related indices into a single indicator, the WTOI measures short-run performance against medium-term trends.
The latest indicator suggests that global merchandise trade growth will continue to strengthen in the third quarter (Q3) of 2017.
The latest reading of 102.6 is higher than the 102.2 recorded in May this year and that, the WTO points out, suggests sustained momentum for trade growth. The score of 102.6 is, in fact, the highest level reached by the indicator since April 2011.
Although air freight, export orders and container shipping all performed strongly, they were balanced by weaker results in other indices including automobile production and sales.
Export orders are above trend, the WTOI reports, but they appear to have reached a plateau, which suggests that upward momentum in trade growth may have peaked. If that is the case, then trade growth is anticipated to moderate toward the end of the year.
The WTO stresses that, although the indicator suggests how trade might grow in the near future, it is not intended as a short-term forecast.
Rather, it should be seen as something that can help identify turning points and gauge momentum in global trade growth and as a complement to trade statistics and forecasts from the WTO and other organisations.
The two-page World Trade Outlook Indicator can be found here.
Employment Law experts, Oliver Brabbins and Robert Hickford of Steeles law delivered a thought provoking HR forum to 40 attendees yesterday (13.9.17).
Focussing on Preventing Discrimination in the Workplace, the speakers examined the Equality Act 2010 and gave a comprehensive review of the law relating to this sensitive are of HR management.
Attendees heard a review of a number of landmark cases of discrimination and harassment in the workplace and a roundup of other recent landmark employment law cases.
The next HR Forum, sponsored by Birketts, focuses on Employee Investigations and takes place on 08 November 2017. Find out more and book your place here.
Commenting on the labour market statistics for September 2017, released today by the Office for National Statistics, Nova Fairbank, Public Affairs Manager for Norfolk Chamber said:
“The continued rise in employment, coupled with falling unemployment, is further evidence that the Norfolk jobs market remains resilient, with firms continuing to recruit despite a softening economic picture.
“That said, the labour market continues to face a number of major challenges. With pay growth unchanged, inflation continues to comfortably outpace earnings growth, which is putting the brakes on consumer spending, a major determinant of UK economic growth. However, the continued weakness in real wage growth should give the MPC sufficient leeway to keep interest rates on hold, despite the pick-up in inflation.
“It is concerning that the number of vacancies remains well above the historical average – a further indication of the continued skills shortage faced by business, which is weighing on productivity and growth prospects. The latest research from the British Chambers of Commerce found that half of firms Norfolk and the rest of the UK had faced skills or labour shortages over the past year.
“A key priority for the Autumn Budget must be to support companies looking to recruit and grow their business, including tackling the high up-front taxes and costs of doing business in the UK. As the Brexit process unfolds, a key focus must be on delivering a post Brexit immigration system that reflects the needs of the UK economy.”
We have been informed by the Iraqi Commercial attache in London, that as from 30th August 2017, all goods that have been produced outside of the United Kingdom (foreign origin) must now have a formal letter issued by the consignor confirming that the goods have been produced for thier benefit.
This letter must accompany all documents being submitted to the Embassy for legalisation.
Over 90 businesses came together last week for drinks, burgers and some networking. Norfolk Chamber Gold Patron, Migsolv, kindly hosted this event at their premises on Barnard Road.
Guests were greeted with complimentary ‘goody-bags’ and an open bar.
Throughout the evening delegates were able to attend tours of Migsolv’s high security data-stores to gain an understanding of how they work.
Jason Williams, Business Manager at the Norfolk Chamber said:“This was a fantastic event and we are very grateful to our Gold Patron Migsolv for hosting it. It gave a great setting for lots of productive and interesting networking and the added benefit of good quality food & drink and a very informative tour of the data centre was much appreciated”
A client of the Colombian British Chamber of Commerce in Bogota, would like to offer their leather products and accessories to interested parties of importers or brokers within Norfolk.
They are looking to identify prospective buyers of leather handbags, wallets, key holders, leather files and much more, in order to introduce to new markets, an exotic range of accessories with ethnic designs and value-added features, from Colombia and Latin America.
The combination of using ancestral techniques for leather crafting with fabric embroidery harnessing modern quality control methods, means that these products are of the highest quality. These accessories represent a unique cultural identity whilst at the same time having the functionality required for today’s urban living.
Please take a look at their examples shown in the PDF below.
Anyone interested in learning more, please contact the International Trade Team on 01603 729711 or export@norfolkchamber.co.uk