A huge congratulations to our Chief Executive, Caroline Williams for being awarded a MBE in the Queen’s New Year’s Honours List for services to the Norfolk business community.
The chief executive of Norfolk’s chamber of commerce for almost 17 years has been made a Member of the British Empire. Mother-of-two Caroline Williams, who lives in Salhouse, said she was “thrilled and humbled” to receive the accolade. The 64-year-old joined the chamber in 2000, having previously worked as an international buyer and an account manager in Dereham.
At that time, she said the organisation had been “limping along” and was in a poor state financially. But over the following years, Mrs Williams, assisted by fellow members, transformed the chamber into a strong and sustainable position.
“I think one of the biggest achievements is that Norfolk’s business community is now visible in Westminster,” she said. “It understands that it can make a difference, and the chamber has worked as a good facilitator between the Government and the business community.”
The title is a among a string of accolades Mrs William has picked up this year. As well as becoming a qualified yoga teacher, she also received the EDP Outstanding Business Award. She will be stepping down from her role in April to focus on training business leaders across the county.
Read more about Norfolk Heroes recognised in the EDP here
Local cancer charity, Big C, has announced it will be hosting ‘Remember in December’ an evening of reflection, readings and carols to be held at Norwich Cathedral on December 7th, to which all local people are invited.
This special event is an opportunity for everyone to come together and reflect on the past year and perhaps remember loved ones who poorly, or who are no longer with us. The occasion will also offer the chance for Big C to say thank you to everyone who has supported the cancer charity over the past few years, especially with the ‘Nearer to Home’ Appeal, which has enabled the building of a new Cancer Support Centre on Dereham Road. Tributes will also be made to the charity’s amazing supporters, staff and volunteers who work so hard across the organisation to help local people affected by cancer.
Dr Chris Bushby, CEO of Big C said “We are really looking forward to welcoming everyone to this special event in this majestic and peaceful setting. The occasion will provide a moment for reflection during the festive period, which is important to so many of us. There’s no need to book, just turn up on the evening and enjoy a service of well-known readings, carols and festive music in the beautiful surroundings of Norwich Cathedral.
“Whether you’ve had a recent bereavement, or are remembering loved ones at Christmas-time, you’ve been helped by Big C, are a supporter of the charity, or you would like to come along and be part of the evening as part of the local community, you are warmly invited to attend.”
The British Chambers of Commerce (BCC) today (Thursday) publishes its Quarterly Economic Survey – the UK’s largest and most authoritative private sector business survey. Based on 7,250 responses from companies in Q4 2016, the results show the uptick in Q3 in the manufacturing sector has been sustained in the final quarter, and more service sector firms were expecting growth than they were just after the EU referendum.
Overall, the findings suggest growth in Norfolk will continue in 2017, albeit at a more modest pace.
The survey results show that having slowed in Q3 2016, growth in Norfolk’s domestic sales and orders rose considerably in the service sector for Q4, although they have not bounced back to the levels last seen in 2013. The fall in Sterling looks like it is benefitting some manufacturers, with export sales and orders continuing the rise started in the last quarter. Manufacturing exporters started 2016 in negative territory, with export order balances at -8% but they finish 2016 in a very positive position, with an export order balance at +22%.
The survey also indicates that manufacturer’s confidence in future turnover and profitability has continued to increase throughout the year. Balances for hiring expectations and investment in plant and machinery also rose this quarter, again highlighting growing confidence for Norfolk’s manufacturing firms.
Norfolk’s service sector have not been as confident through 2016. They started the year with a negative balance for export sales (-3% in Q1) and the negative balances lingered throughout the year, dropping further to -12% in Q3, but finished stronger in Q4 with a positive balance at +11%. Turnover and profitability for the Norfolk Service sector also finished positively with turnover at +35% and profitability at +20%. Both of these balances are at lower levels that they were in Q1 2016 (+55% and +41% respectively).
However, the survey found that firms in both sectors, particularly in manufacturing, are facing pressure to raise prices, principally as a result of the cost of raw materials and other overheads.
Commenting on the results, Caroline Williams, Chief Executive of Norfolk Chamber of Commerce said:
“As we start 2017, Norfolk businesses are continuing to trade through uncertainty, and are looking to seize opportunities as they arise. The QES findings suggest that business communities across Norfolk and the rest of the UK remain resilient, and many firms are expecting continued growth in the months ahead.
“Inflation has emerged in our survey as a rising concern for many businesses. Both manufacturing and services firms say they are under pressure, particularly from the rising costs, which are squeezing margins and may weaken future investment. “It is therefore vitally important that our local Councillors, together with our MPs, work hard on our behalf to bring investment into our County to help improve the business environment in order to encourage business growth.”
Key Norfolk findings in the Q4 2016 survey:
Overall, the figures for both sectors indicate continued expansion, but at a lower level for the services sector than before the EU referendum
There was a considerable rise in the balance of firms in both sectors expecting the prices of their goods and services to increase over the next three months, with the balance for manufacturers rising from +29% to +55%. This is the highest on record in the manufacturing sector, and the highest since Q2 2011 for manufacturing firms. This pressure is predominately as a result of an increase in raw material prices following the post-referendum devaluation of Sterling
In the manufacturing sector, the balance of firms reporting improved export sales remained broadly steady, slightly increasing from +13% in Q3 2016, to +18%. The balance for export orders is +22%, a rise from +13% in the previous quarter. Both balances have shown a marked increase from the same quarter last year, where they both languished in negative territory (orders at -3% and sales at -8%)
Domestically, the balance of manufacturers reporting increased sales rose from +7% to +24%, and those reporting increased advance orders rose by 10 points to +10%. The balance for services firms rebounded slightly, after falling considerably in the last quarter. Domestic sales were up from +10% to +24% and orders rose from +0% to +20%.
The percentage of manufacturing firms reporting recruitment difficulties decreased from +86% to +78%. Whilst the service sector recruitment difficulties increased from +55% to +68%.
In the last three months, the balance of service sector firms hiring more staff rose from +9% to +19%, although manufacturing firms reported only say a slight increased from +32% to +34%.
Having dipped in the last quarter, the manufacturing sector are reporting higher balances of firms investing in plant and machinery, with an increasing balance from +13% in Q3 to +27% this quarter.
More firms in both sectors are reporting confidence that their turnover will increase. The balance of manufacturers rose from +39% to +63%, while services increased from +28% to +35%. While confidence in profitability also rose from +13% to +52%, it rose from +6% to +20% in the services sector.
Commenting on the National results, Suren Thiru, Head of Economics at the BCC, said:
“Having slowed significantly in the previous quarter, the UK services sector has rebounded, although it’s not yet back to levels seen at the start of the year. Nonetheless, the service sector is likely to have been the key driver of growth in the quarter.
“Manufacturers, particularly those that export, continue to report positive indicators. However, while some firms will be benefitting from the depreciation in the value of the pound, there is currently little evidence that it is providing a material boost to overall export growth. The UK’s manufacturing base continues to struggle with long-term structural issues, with businesses continuing to report considerable recruitment difficulties. The government must work to address the skills gap, while also ensuring that businesses have access to the workers they need from overseas.
“There is further evidence that rising prices will be a key challenge to the outlook for the UK economy over the next year, with the significant rise in the cost of raw materials increasing the pressure on firms to raise prices in the coming months. While growth is likely to have remained on trend in the quarter, the UK’s growth prospects in the near-term are expected to be more subdued, weighed down by rising inflation and the uncertainty surrounding Brexit.”
Q3 UK GDP growth revised up and latest QES points to solid growth in Q4.
Higher inflation and uncertainty over Brexit likely to weigh on UK’s growth prospects.
US Federal Reserve raises interest rates and further rises are likely in the coming months.
UK growth was revised upwards with a recorded growth of 0.6% against an estimate of 0.5%. The upwards revision was driven by stronger business and financial services output. The latest Quarterly Economic Survey showed that both the manufacturing sector and the service sector increased. There results suggest that the UK economy grew in line with historic trends.
UK inflation continues to rise, with prices of clothing and motor fuels being the main contributors to this rise. The outlook for UK growth remains weak, with continued uncertainty over Brexit weighing down future growth prospects.
The US Federal Reserve raised interest rates by 0.25 percentage points to a target range of 0.5% and 0.75%. This is the first increase since December 2015. Further rises in US interest rates are expected in the coming months which will place further downward pressure on the value of Sterling.
The British Chambers of Commerce (BCC) has published a survey of businesses, which shows that just over a third of companies (34%) have had to increase their wage bills since the introduction of the National Living Wage (NLW) in April 2016.
The survey of more than 1,600 business leaders across the UK, undertaken in August 2016 and supported by Middlesex University, revealed that many companies affected by the introduction of the NLW have already changed their recruitment plans or planned to do so in the future. A quarter of affected firms (25%) have reduced recruitment in response, and 34% plan to do so if the NLW rises to £9 per hour by 2020. Others are looking at changes to staff hours, benefits or pay growth.
These changes reflect the rising cost burden on many companies. Although the majority (65%) of firms pay their staff above the NLW of £7.20 per hour and have not been affected, 25% of those that were affected have increased their wage bill slightly, and 9% have increased their wage bill significantly.
The businesses most exposed to the NLW have largely absorbed the increase in costs for now, but plan to pursue cost reduction measures if the NLW increases to £9 per hour. The BCC urges the government to use caution with future NLW increases.
Key findings in the survey:
Most businesses pay their staff above the NLW, but more than a third have increased their wage bills since it was introduced in April 2016
Of the firms whose wage bill increased because of the NLW, most have not yet made major changes, but more of these firms expect to do so if the NLW rises to £9 by 2020
Only 34% of businesses affected by the NLW raised prices to offset the cost, but 63% would do so if it rose to £9 by 2020
Of the businesses affected by the introduction of the NLW, 25% reduced recruitment in response, 18% reduced staff hours, 18% reduced pay growth, 24% reduced staff benefits, 25% reduced recruitment, and 37% made no changes
If the NLW increases to £9 per hour by 2020, 25% would reduce staff hours, 29% would reduce pay growth, 33% would reduce staff benefits, 34% would reduce recruitment, and 13% would make no changes
Commenting, Caroline Williams, Chief Executive of Norfolk Chamber, said:
“A decent wage can make a huge impact on employees’ lives and their performance at work, and many Norfolk businesses are able to pay above the NLW.
“However, a significant number of Norfolk firms have already had to re-balance their books to meet the cost of the NLW, which can have a knock-on effect on recruitment or growth plans. Many firms would have to change their business models, by increasing prices and reducing staff, if the NLW increases to £9 per hour by 2020.
“Norfolk Chamber believes that the government needs to take an evidence-based approach to setting the NLW. The rate should be set by the Low Pay Commission and be determined by the state of the economy, weighing up the various pressures businesses face. Further NLW increases need to be proportionate, reflecting business uncertainty, slowing growth and high input costs, to avoid having a negative effect on employment.”
David Williams, Director Corporate Engagement at Middlesex University, added:
“While our research has captured the current sentiments of business around the NLW, the potential rise to £9 per hour is still three years away. This means that businesses have an opportunity to adjust their strategies, as they are having to do with other initiatives such as the apprenticeships programme.
“It is important that Government supports business through these transitions so that employees in the UK can earn a fair wage for their work and businesses benefit from a satisfied and motivated workforce.”
Between 10am and 4pm on the lower ground floor by Frasers and HMV, visitors can enjoy appearances, interactions and photos with Darth Vader, Chewbacca and droids. Visitors will also be able to make a voluntary donation to Break, making life better for young people in and around care.
Embracing the iconic tagline, “May the Force be With You”, Star Wars Day has become a tradition for many fans worldwide on 4th May.
Paul McCarthy, general manager at Chantry Place, comments: “We’re excited to welcome NORCON, Norwich Droids and many iconic characters from Star Wars to Chantry Place to raise funds for Break. Visitors are also welcome to dress up and we know how popular this event will be. Visitors will be able to take their own photos with characters and enjoy watching the droids entertain visitors.”
Ron Auker, a crew supervisor at NORCON, said: “We’re really excited about coming to Chantry Place to help raise money for such a fantastic cause and celebrate Star Wars Day with everyone. May the force be with you.”
NORCON is a Norfolk TV, film and comic convention which will return to the Norfolk Showground Arena on 28th and 29th September 2024. Tickets are on sale now at www.nor-con.co.uk
For more information on Chantry Place, visit www.chantryplace.co.uk or follow chantryplacenorwich on social media.
Commenting on the trade statistics for November 2016, published by the Office for National Statistics, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:
“The widening of the UK’s trade deficit in November is disappointing, and signifies a considerably weaker trading position than the average for the year. While exports increased slightly in the month, this was more than offset by a record rise in imports, confirming that there is little evidence that the fall in the value of the pound is boosting the UK’s overall trade balance.
“Trade is likely to make a greater contribution to UK GDP in the next few years, as the persistent currency weakness feeds through into improved price competitiveness for some exporters, and diminishes demand for imports. However, the extent of any improvement is likely to be curbed by subdued global trade growth, and the higher cost of imported raw materials.
“In order to achieve a meaningful improvement in our export performance, the government must do more to provide businesses with direct support to access new markets.”
Construction of Norwich Northern Distributor Road (NDR) is on course to pass another significant milestone next week when the bridge that will carry the dual carriageway over Plumstead Road becomes the first to have its main beams lifted into place.
There are eight bridges on the 20km route of the NDR, six going over the dual carriageway, and two carrying the NDR where it goes over Plumstead Road and the Norwich to Sheringham railway.
Plumstead Road closure Plumstead Road will be closed for up to three days from early (between 4 and 5am) on Tuesday 17 January, reopening as soon as possible on Thursday 19 January. The duration of the closure will depend upon progress – the crane cannot lift if the wind is much stronger than a moderate breeze.
Altogether 26 concrete beams will be lifted into place after being brought by road from Ireland. The lifts will mainly be carried out during daylight hours, but work will continue overnight to fit GRP* deck panels ready for the bridge deck concrete to be poured.
Chris Sedman, Project Director for main contractor Balfour Beatty, said: “Getting the first bridge beams in place is another important milestone – especially since it is at Plumstead Road. Along with the adjoining railway bridge, it’s one of the key structures on the route. We aim to have the steel beams over the railway in place in April, and once we are able to bring bulk material across the railway we will be able to focus on the Middle Road bridge.”
Ian Taylor, Project Manager for Norfolk County Council, said the support of the local community was greatly appreciated. “We know that sometimes we cannot avoid making life difficult for people, but we have been heartened that so many share our view that completing construction as soon as possible is best for us all.
“Sharp frosts early in December stopped us getting these beams on before Christmas and unfortunately the road closure now coincides with the longer-term Anglian Water closure on Plumstead Road East close to Aerodrome Road. We apologise for the inconvenience caused. For anyone affected by both closures, using Salhouse Road and Norwich Ring Road will be worth considering.”
Caroline Williams CEO Norfolk Chamber said:“We welcome every milestone which gets us closer to the completion of the NDR. We do not want to see any further delays which could cause the motorist aggravation and hold up the benefits of this new road.”
A revised version of the Harmonized System (HS) Nomenclature entered into force on 1 January 2017.
This introduces 233 sets of amendments compared to the previous version with most of the changes concerning the agricultural sector (85) and with the chemical (45) and machinery (25) sectors also heavily revised.
The transport, textiles and wood sectors are others highlighted by the World Customs Organization (WCO) as being particularly affected by the changes.
Developed by the WCO, the HS Nomenclature was first adopted in 1983 and is now used by over 200 countries and economic or customs unions for classifying goods in international trade.
It is also used by the World Trade Organization (WTO) and individual countries as a common language of trade for the purposes of trade negotiations, and as a basis for determination of the origin of goods.
The 2017 edition includes more than 5300 six-digit subheadings compared to just over 5200 in the previous version released in 2012. Most of the changes were, according to the WCO, prompted by the Food and Agriculture Organization of the United Nations (FAO), including amendments for fish and fishery products.
There is also a focus on forestry products, intended to enhance the coverage of wood species in order to obtain a better picture of trade patterns, including trade in endangered species.
HS 2017 includes provisions to help monitor trade in products, such as substances controlled under the Chemical Weapons Convention, hazardouschemicals controlled under the Rotterdam Convention and persistent organic pollutants (POPs) controlled under the Stockholm Convention.
WCO Secretary General Kunio Mikuriya has called on authorities to implement the new version of the Nomenclature as soon as possible.
Further information about the HS is available atwww.wcoomd.org. You can also find more information on the Gov.UK website, or by contacting us at the Chamber.
The current lack of connectivity severely inhibits movement in Great Yarmouth resulting in congestion and ultimately limiting the economic potential of the town. Particular areas that could be affected include: the Great Yarmouth Enterprise Zone, the Energy Park, the South Denes Business Park and the deep water outer harbour.
Neil Orford, President of Great Yarmouth Chamber Council said:
“The new crossing would provide much needed connections between the strategic road network and the fat growing energy related Enterprise Zone. It provides linkages across the River Yare to the economic growth hub on the South Denes peninsula. The additional crossing would also support tourism, which is worth £577m per annum to Great Yarmouth and create jobs for 30% of the local workforce.”
Norfolk County Council is holding public consultations to find out about transport issues in Great Yarmouth and how its proposal for a third river crossing might affect people living, working and visiting the area.
They will be presenting the details of the Third River Crossing proposal at the Chamber’s Great Yarmouth Breakfast on Thursday 19 January.
You can have your say on the Third River Crossing online or Norfolk County Council have more consultation events throughout January in the town, where people can drop in to talk to representatives from the County Council and Great Yarmouth Borough Council about its proposal to build a third bridge across the River Yare, as well as the town’s wider transport needs.
Thursday 26 January, 10am – 4pm, Great Yarmouth Town Hall
Saturday 28 January, 10am – 3pm, Great Yarmouth Library
Norfolk County Council previously carried out a public consultation on a third river crossing in 2009, in which 92% of people supported a new crossing. The government have now given them the opportunity to bid for funding to move the bridge into the planning and detailed design phase.
If successful they could be looking at construction in 2021. As part of this they want to give you another opportunity to give your views on the Third River Crossing and transport in Great Yarmouth. Your views will form part of an outline business case to government in March 2017.
Abellio has sold a 40% share in Greater Anglia to Mitsui. The Japanese company was identified as the best partner to support Abellio in delivering ambitious programme of improvements.
Abellio UK (“Abellio”) has signed an agreement to sell 40% of the Greater Anglia rail franchise to Mitsui & Co., Ltd. pending final regulatory approvals. This fulfils Abellio’s long-standing objective of finding a suitable partner to run Greater Anglia in a 60:40 joint venture.
Abellio and Mitsui have a proven track record of working together, having first entered into a joint venture to bid for the West Midlands rail franchise in 2016. Following this process, Abellio felt that Mitsui would be the best partner to help it deliver its ambitious programme to transform the Greater Anglia franchise.
Mitsui is a global conglomerate with business interests in numerous different sectors, including infrastructure, integrated transportation systems, energy, and IT and communications. The deal is also notable for marking the first time a Japanese company has become a shareholder of a British train operating company.
Abellio re-won the Greater Anglia franchise in August 2016, having first operated it from February 2012. It will continue to have a majority stake in the business and be in overall control. The franchise agreement will see £1.4bn in investment over the next nine years, with the introduction of a completely new fleet and a commitment to cut average journey times by 10%.
Dominic Booth, Managing Director of Abellio said:
“We are delighted to have reached agreement with Mitsui, fulfilling our long standing objective of running the franchise as a 60:40 joint venture. With the introduction of Mitsui’s knowledge and experience, we look forward to delivering significant improvements for Greater Anglia’s customers, including through the introduction of a brand new fleet.”
Commenting on the share sale, Nova Fairbank, Public Affairs Manager for Norfolk Chamber of Commerce said:
“Greater Anglia have committed to a hugely transformational programme of upgrades to our region’s rail service. They have outlined major investment and improvements, which will see the total replacement of all rolling stock, increased seating and a faster, more efficient services. Mitsui will bring complimentary skills and expertise to help support the delivery of greater customer service for businesses across our region.”