Support for Norfolk rail improvements is in the news today. The chair of the New Anglia Local Enterprise Partnership, Mark Pendlington, has been asked to give evidence to the House of Commons Transport Committee today. The Norfolk Chamber, together with partners, will continue to lobby until we get the improvements to the rail services that our business community needs.
In the North of England, plans for high-speed ‘HS3’ rail link moved a step closer after a report by the boss of the HS2 scheme, Sir David Higgins was published. Sir David said: “Better rail links in Northern England were ‘desirable’ and ‘possible’ after being asked to look at ways to maximise the benefits of HS2. Journey times from Manchester to Leeds could be cut from 48 to 26 minutes. The government says it will now produce a strategy looking at options, costs and a delivery timetable for HS3 and an interim report will be produced in March. The east-west improvements will be in addition to the north-of-Birmingham phase two of HS2 which will see a Y-shaped route going from Birmingham to Manchester and Leeds.
Caroline Williams, CEO of Norfolk Chamber of Commerce said: “The Greater Eastern Rail Campaign continues to lobby for a faster more reliable train service from Norwich to London, with improved carriages and significant investment to upgrade the track. Norfolk lacks the infrastructure benefits such as the motorways that the North of England rely upon. Therefore our rail improvements are as important to the Norfolk business community as HS3 will be to Manchester and Leeds.”
The A11 will be closed overnight tonight (Monday 27 October) and on Tuesday and Wednesday nights from 9pm to 6am as part of the current dualling scheme. The diversion route will be via the A1065 and the B1107.
There is also a Southbound closure of A1101 from 9pm to 6am tonight (27th) and Tuesday night (28th) between Pine Tree Avenue, Mildenhall and Fiveways. Access from Fiveways to Mildenhall will still be possible. The southbound diversion will be via Thetford Road and the A1065.
Twenty Four European banks have failed ‘stress tests’ of their finances, the European Banking Authority (EBA) has announced. The banks now have nine months to shore up their finances or risk being shut down. The review was based on the banks financial health as at the end of 2013. Ten of those banks have already taken measures to bolster their balance sheets. All the remaining fourteen banks are in the Eurozone.
The good news is that none of UK banks involved in the financial health-check failed the test. The four UK banks that were subject to the EBA test were: Royal Bank of Scotland, HSBC, Lloyds Banking Group, and Barclays.
Caroline Williams, CEO of Norfolk Chamber of Commerce said: “As the UK banks passed their ‘stress tests’, this should mean that these banks have stronger balance sheets. Which in turn will enable them to support Norfolk’s growing businesses, especially sectors to which they have historically been more reluctant to lend to – such as construction, life sciences and new technology companies.
Profit warnings by UK-listed firms have risen to their highest summer level in six years, according to a new report. The report, by the consultancy firm EY (Ernst & Young), advised that quoted firms issued 69 profit warnings in the third quarter of 2014, up from 56 in the same period in 2013. It is the highest level for the three-month period to 30 September since 2008.
Supermarket giant Tesco and retailer Next were among the companies to issue profit warnings during the period. Profit warnings are issued by companies quoted on a Stock Market to alert investors that profits will be lower than in the previous year.
The survey said that despite a rise in economic output, firms were facing crowded and competitive markets. It also said bargain-hunting customers, rapid structural change and, until recently, a strong Pound (£) had hampered progress. The construction materials industry also issued a high number of warnings because older contracts have come under intense margin pressure due to rising costs.
Caroline Williams, CEO of Norfolk Chamber of Commerce said: The most recent British Chambers of Commerce Quarterly Economic Survey (released 9 October 2014), which includes Norfolk Chamber members, did show a dip in confidence, but overall the Norfolk economy remains strong.
Norfolk businesses are quietly confident and the Chamber continues to see real growth in export documentation numbers, as well as more businesses attending our networking events, both of which are signs of businesses looking for new opportunities to grow.”
Norfolk’s economy is expected to see a boost over the next week as shoppers flock to the High Street to prepare for what has become one of the biggest nights of the year. Retailers predict a bump in their autumn profits, and Norfolk traders will be taking full advantage as October 31 falls in the half term holidays.
And with more and more events lined up around the region, experts are confident the combined boost of Halloween and school holidays will be frighteningly good.
Nova Fairbank of the Norfolk Chamber of Commerce said: “Halloween now has one of the largest retail spends after the Christmas period and many Norfolk retailers are capitalising on this. However as Halloween invariably falls within the half term holidays, it is quite hard to differentiate between increased retail spending as a result of half term and spending specific to Halloween.”
Richard Marks from John Lewis, Norwich is one of our Chamber members, Richard said “John Lewis is expecting a boost in sales for gift food and Halloween novelty items during the week.”
And another Chamber member, Vicky Merrison, Marketing Manager from Castle Mall Shopping Centre said “Footfall was up this time last year in the centre, helped by the Spooky City Parade, our own Halloween activities and the children’s half term. We would expect the footfall this year to be level with last year.”
More of Norfolk’s attractions are pulling out all the stops for Halloween, including the Horrible History Trail in Sheringham Park, who are putting on shows, talks and walks with a spooky theme. There will be more people taking on what’s on offer in the city and anything that contributes to the vitality and vibrancy of the city centre is always going to be a positive thing.
On Wednesday 15 October 2014 both floors of Norwich CityFootball Club were packedwith the region’s very bestbusinesses showcasing theirproducts and services to theNorfolk business community.
The B2B Exhibition 2014 had over 90 exhibitorsdivided into six different business zones, wowingthe 600+ delegates that attended with theirquality and range of services.
The exhibition was opened by Wendy Thomson,Managing Director of Norfolk County Councilwho also judged the best stand award.
Wendy remarked on the variety of exhibitorsat the event and after much deliberation sheannounced the winners Tipsy & Tumbler.
In addition to the exhibition, delegates alsohad the opportunity to attend 20 minute expertbitesize sessions providing expert advice and toptips across three varied subject areas.
Overall there was a real buzz around theexhibition, there was plenty to see and do, frommeeting Hazel a Marsh Harrier Hawk at the NBCBird and Pest Solution stand to having a healthcheck provided by Wrightway Health.
Don’t forget to put a date in your diary fornext year’s B2B Exhibition on Thursday 15October 2015.
Unlocking £4.5 billion economic potential – Great Eastern Rail Report goes to Government
After months of campaigning, involving support from Norfolk Chamber members, thousands of rail passengers, businesses, local authorities, MPs and education leaders across Norfolk, Suffolk and Essex, the Great Eastern Main Line Report has been submitted to Government.
Heralded as a ‘once in a lifetime opportunity’ the report calls on the Chancellor to invest millions of pounds and bring a ‘massive vote of confidence to the region’. It details the key improvements needed to bring better, faster trains and deliver a journey time of ‘Norwich in 90 minutes’. And a robust economic case explaining why the improvements are vital to the region.
It also includes a letter signed by more than 100 of the most senior business and education leaders in the region, representing over 111,000 employees and students. Over 1,600 rail passengers have also joined the online campaign.
The key highlights of the report include:
A call for £476million investment to improve infrastructure
Which will deliver up to £4.5bn wider economic benefits
Unlocking an additional £1.3bn in capital investment along the route.
With journey time savings of £9m per year
It also asks Government for new rolling stock to be included in the new rail franchise tender to be announced in 2015.
The report identifies the Great Eastern Main Line as the ‘golden thread running through our economy’. It states: “Modern economies need high-quality rail infrastructure to support and sustain growth and to help businesses compete and win in global markets. The Great Eastern Main Line is no exception. We need the rail service to serve our ambitions not to stifle them.”
In a letter to the Chancellor accompanying the report, Mark Pendlington, chair of New Anglia LEP and Chloe Smith MP, both joint chairs of the Great Eastern Main Line Rail Taskforce make a plea on behalf of East Anglia:
“Your decision for this Autumn Statement is simple: We ask you to confirm the infrastructure improvements needed to unlock the economic potential of the region through faster more reliable services; and provide for new rolling stock on the Great Eastern Main Line for better journeys.”
“Over the next decade our region will experience considerable housing, employment and economic growth leading to some of the fastest rates of passenger growth in the country. Our economy, built on the success of innovative and dynamic businesses is also growing and carries even more potential.”
“We could be the California of Europe, yet we have some of the oldest trains in Britain. Our rail service is over-crowded, the infrastructure not resilient to failures. It is as quick to go 225 miles over land and sea from London to Brussels as it is on the train to Norwich, over half the distance. We can’t go on like this.”
Caroline Williams, Chief Executive of Norfolk Chamber of Commerce said: “Norfolk Chamber, together with Suffolk and Essex Chambers of Commerce are fully in support of the Great Eastern Rail Campaign. Improvements to rail infrastructure in Norfolk has lagged behind the rest of the UK for many years and action is needed to change this position. To ensure Norfolk businesses remain competitive and create jobs, we need a faster more reliable rail service between Norwich and London. This will help enable the Norfolk business community to deliver economic growth and jobs into our region.”
Notice is hereby given that the 118th Annual General Meeting of the Norfolk Chamber of Commerce & Industry will be held at the Dunston Hall Hotel, Ipswich Road, Norwich on Friday 28 November 2014. Registration will be at 10:00am, for meeting commencement at 10:15am.
Please see attached for all papers relevant to the meeting.
The Government’s rollout of superfast broadband has passed more than 1.5 million premises and is now reaching more than 40,000 additional homes and businesses every week.
In the East of England more than 227,580 premises can now access a faster and reliable service as a result of the work carried out to date.
26% of all UK connections now superfast, up from just 6% two years ago. Every day more and more people are opting to make the most of all a superfast connection has to offer – be it entire households using multiple devices at the same time with no drop in quality of service, the ability to work from home, staying in touch with friends and relatives using video calls or uploading digital content to websites.
Delivering world class connectivity is a key component of the Government’s long term economic plan, and the rollout has been steadily accelerating since it began in 2012. It has now entered the fastest stage of deployment, with many of the 44 projects across the UK that comprise the scheme ahead of schedule.
Culture Secretary Sajid Javid said:
“I’m delighted that the project has now reached more than 1.5 million homes and businesses, giving people much faster and reliable connections. We know how important superfast broadband is to everyone, which is exactly why we are investing £1.7bn in this remarkable project. Our transformation of the UK’s digital landscape is progressing at an incredible rate and delivering a tremendous boost to the nation’s economy.”
The project has already made superfast broadband available to more than 1.5 million UK homes and businesses
To date, project partner BT has rolled out more than 25,000 km of fibre-optic cabling, about 25 times the distance from Land’s End to John O’Groats.
Around 8,500 street cabinets are now up and serving customers in hundreds of rural towns and villages throughout the UK who were previously stuck with slow speeds and unreliable connections
Together with commercial rollouts, we have seen average broadband speed in the UK almost quadruple since 2010 (from 5.2Mbps in May 2010 to 18.7Mbps in May 2014)
The rollout is firmly on track to take superfast broadband coverage to 95% of the UK by 2017. It currently stands at around 80%, up from 45% in 2009 and the UK is already ahead of the top 5 European economies for broadband coverage, speed, choice and price.
Bill Murphy, Managing Director of Next Generation Access for BT, said:
“Reaching one and a half million premises ahead of schedule is a fantastic achievement, but there’s still more to do.
“The fibre broadband rollout is bringing really positive social and economic benefits to people all over the UK, and this programme is a great example of successful partnership between the private sector, local and national government.
“BT is investing more than £3 billion of our shareholders money to plan, design and build a national network that reaches as many homes and businesses as possible. We have already reached 21 million premises and our engineers will continue working flat-out to get this technology to some of Britain’s hardest to reach communities.”
Caroline Williams CEO Norfolk Chamber of Commerce said:
“Many of our members remain discontent with the speed of broadband available to them, despite the fact they are meant to have ‘superfast broadband’. It may have been ‘superfast’ once but the world has moved on. Our digital companies within Norwich are particularly being penalised as they try to compete on the world stage. Technology is what enables our businesses to be competitive and although we welcome the improvements that have been made relating to Broadband there is still a lot more to do to bring Norfolk up to the standard required by the business community”
Norfolk businesses planning to watch the Chancellor’s Autumn Statement live on TV or a computer in the workplace are being reminded to ensure they are correctly licensed.
With more and more management teams clicking through or tuning in to view live broadcasts of George Osborne’s Autumn Statement and Budget speeches, TV Licensing is reminding businesses in Norfolk that it is essential they are aware of their licensing responsibilities.
The Autumn Statement, which will be shown on December 3 on a number of channels and online, is likely to prove popular amongst businesses seeking to get ahead as the economic recovery gathers pace.
A TV Licence is required if staff or customers at a business premises watch or record TV programmes at the same time they’re shown on the telly – whether on a TV, tablet, computer or any other type of equipment. And TV Licensing has been working with Norfolk Chamber of Commerce to ensure companies get the message – last year TV Licensing enquiry officers visited more than 33,000 business premises across the UK.
Mr Osborne’s statement is sure to be highly anticipated by business people. Mark Whitehouse, regional spokesman for TV Licensing in East Anglia, said: “With live streaming to events such as the Chancellor’s statement so readily accessible, we know that a host of businesses in Norfolk are going to be tuning in to get the very latest news. But our message to employers and employees is that they need to be aware of the licensing requirements if they’re watching live in the workplace.
“We want businesses to enjoy live television without having to worry about being correctly licensed, so it’s important that business owners understand when they do and don’t need a licence. We visit unlicensed address as part of our work to check that people are on the right side of the law.”
Nova Fairbank, from Norfolk Chamber of Commerce, said: “We know that Norfolk businesses want to stay within the law, so this provides a timely reminder for business owners to make sure they’re covered by an up-to-date TV Licence. Programmes like the Autumn Statement are of great interest and are useful to business leaders across Norfolk, but it’s important people are aware of the law and how it relates to the wide range of TV viewing platforms available today. We would advise firms where staff are tuning in to programmes like this not to assume that they’re covered. It’s always best to check that your business has a TV Licence if employees are watching TV via PC or laptop at work stations, in boardrooms or staff restaurant areas. We would always encourage businesses to make sure they’re correctly licensed, and never to assume that it’s been dealt with.”
A TV Licence is a legal requirement and is needed if you’re watching or recording programmes at the same time as they’re shown on TV, costs £145.50 and can be bought online in minutes at tvlicensing.co.uk. In addition to the usual ways to pay, businesses can also pay using BACS electronic transfer. Anyone caught watching or recording live television without a licence risks prosecution and a fine of up to £1,000.
This briefing is intended to be an easy-to-use commentary on key global economic indicators relevant to UK businesses. The report will also aim to provide a regular update on UK’s trade position in comparison to its key trading partners.
This month’s headlines:
Slowdown in Germany, weak recovery in France and a triple-dip recession in Italy weighs on EU growth
China, Japan and Thailand show further signs of weakness
Weak demand and US shale gas boom indicates recent falls in oil prices are not over
Taking place during National Oil and Gas week, the Norfolk Chamber held an Oil and Gas Debate: Great Yarmouth Business Breakfast sponsored by Ashton KCJ on 13 November at the Race Course.
John Morse, President of the Great Yarmouth Chamber Council & Commercial Director of Gardline hosted the breakfast and led a discussion on the skills gap in the oil and gas industry. ‘A fantastic, insightful, concise briefing which highlighted the skills gap and discussed potential ways to move forward.’ Ian McInally, Ormiston Venture Academy said.
John Morse discussed the need for local businesses to create worthwhile work experience opportunities for students. He provided tips to help local businesses ensure they are offering valuable work experience placements and provided insight in engaging women in the industry.
Petans, Opito and EEEGR joined the debate, contributing with perspective and knowledge to the issues facing skills in the oil and gas industy. Simon Gray, EEEGR discussed how there was a lack of engineers in the nation and how students interested in pursuing a career as an engineer were encouraged to take GCSE Maths and Science. Eric Burgess, Canham Consulting attended and said: ‘This was a useful event in terms of networking and making new contacts. It was good to see young people promoted in the discussions.’
Over 75 local businesses were represented, including a mixture of businesses who are and who are not directly involved in the oil and gas industry. Delegates found the breakfast to be a helpful update and great opportunity to network with a variety of the local businesses.