Business leaders, entrepreneurs and students joined Norwich North MP Chloe Smith last week at an event to launch a new forum designed to bring business and education closer together.

The event, held at the Financial Services Skills Academy on St Andrew’s Street, was organised by City College Norwich and law firm Howes Percival LLP, and backed by local businesses including Farrows, Norwich Airport and Start-rite Shoes.

Students with a wide range of backgrounds took part in the seminar which was entitled, “What the Next Generation Needs : Business, Skills and Future Government Policy”.   The debate covered topics including the skills and qualifications businesses require, the perception of young people in the workplace, the need for more careers advice and the requirement from both groups for more structured work experience.

Our latest magazine is out soon. Look out for it in your post box and in various business reception areas or contact us if you would like to receive one quarterly!

“Businesses and consumers have been warned that the outlook for the British economy remains “highly uncertain” despite the tentative signs of recovery.

Graeme Leach, chief economist for the Institute of Directors, issued the warning in a speech at the National Skills Academy for Financial Services in Norwich – adding “don’t believe anyone who says they know what will happen next year”.

Prof Leach said that governments in the past had kick-started the economy by reducing interest rates and increasing spending – but inter-est rates at the start of this recession were already at a historic low, and public spending needs to be cut.”

Taken from the article in the EDP, to read more click here.

To watch and listen to the speech again, click here

Our new magazine is out, featuring loads of fab articles and photos of everyone enjoying themselves at various events. If you haven’t had it or would like extra copies for friends, colleagues and/or your reception please email us. Any feedback or ideas for the mag would be appreciated.

We also have a small number of the latest Bank Of England Report which, again we will dispatch to you  if you email us – thanks.

10/8, Nick was invited by Barclays’ Tim Seeley, Head of Norfolk Corporate to attend a breakfast meeting featuring a half year update on the current economic climate through the eyes of Paul Robinson, Chief Sterling Economist for the Bank. It was held at our IoD hub and Paul was beamed in from Canary Wharf via the video conferencing suite.  His talk was brilliant with some interesting opinions voiced.

Here’s some of them;

Firstly this is the worst recession since 1929.

Interest rates look to be going up next year (possibly 2nd qtr) but not by a huge amount and probably not back to 5% yet.

The availability of credit is still sticky, fuelled by the need for banks to reduce their balance sheets and lend cautiously.

Sterling value has been hit badly because the UK was seen, by the rest of the world, as risky. This was because we are heavily reliant on the financial industry, our households are dependent on credit and our government has not put anything away for a rainy day. This negative risk weighting is gradually correcting itself although Sterling will still remain weak because our particular combination of problems is seen globally as British! However Sterling is forecasted to get marginally stronger in the coming months.

Future growth will come from the global economy and trade, not via domestic government or consumer spending. Therefore it will be necessary for the next government to curtail public spending.

This second round of quantitive easing has taken the City by surprise and it is widely thought that, as the Bank of England can only forecast forward by using backwards (or old) data, it is erring on the side of extreme caution in order to stall any dip down again thus producing a W shaped recession.

Finally it was thought that this recession will not follow the shape of a letter (U or W) but, having dived sharply, will recover gently.