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News & updates 

Regular news and updates from the Chamber, our members, local Councils and other relevant business news will be posted regularly here. 

Don't forget, as a member one of your many benefits is being able to submit your press releases and news for inclusion here as well as on either the members or business news emails and social media. Please submit to lauren@worthingandadurchamber.co.uk 


  • 29 June 2016 11:09 AM | Deleted user


    Brexit – What happens now? Article by IEP Financial

    The BREXIT vote whilst a surprise, was an eventuality planned for by the UK Government, and therefore is in a position of being well prepared to deal with the potential fallout from the vote to leave.

    George Osborne has spoken already this morning (27.06.16) in calming tones, having spoken to the main world leaders and institutions such as the ECB and IMF over the weekend. It is worth stressing that the current situation is very different from the last major shock to stock markets in 2008 when a meltdown in the banking system was a real possibility.

    Interestingly the UK stock market ended the week in positive territory and lost less that many global markets on Friday, especially in Europe with Germany losing over 10%. The weeks ahead will be the true test of the direction of travel and longer term implications for the UK.

    Other ‘safe haven’ assets including Gold and GILTs also performed positively on Friday, as did a number of UK sectors with less reliance on UK earnings and the UK economy.

    The biggest impact was seen in Sterling where this weakened against leading currencies, particularly the US$ which is looked upon as the ‘safe haven’ currency in times of uncertainty.

    Ahead of the Referendum the majority of investment managers had positioned their portfolio’s defensively in terms of UK exposure, but there was not a rush to cash. The long term investment principles were very much followed, with diversification being the key.

    So what now?

    The ‘Leave’ campaign’s assertion that there will be no economic disruption from a leave vote is about to be tested. Investors have reacted swiftly and brutally to the surprise ‘Leave’ EU referendum result, clearly believing that material economic harm will result from the outcome. Whilst share price moves at the market open on Friday, 24th June were extraordinary, with severe dislocations apparent across many sectors, as the day wore on a more rational response was exhibited.

    Companies in sectors with significant overseas earnings and little domestic exposure, such as pharmaceuticals, performed strongly closing up on the day as investors recognised the potential benefits of a weaker currency on their earnings. Stocks which are predominantly exposed to the domestic economy significantly underperformed the markets, however. As a proxy for this, it was interesting to note that whilst the more global FTSE 100 Index fell ‘just’ 3.1% on the day, the FTSE 250 Index, whose constituents are generally more exposed to the health of the UK economy, fell 7.2%, and it is perhaps these companies that may be worst effected over the coming months.

    Overall, sectors most badly affected on Friday included banks (-10%), retailing (-10%), insurance (-11%), real estate (-14%) and homebuilding (-25%). Within each of these sectors there was a wide range of performances, none more so than in banks where the global banking giant, HSBC fell just 1%, whilst the domestically focussed Lloyds Banking Group fell 21% (despite having the protection of an exceptionally strong balance sheet). In morning trading today markets have lost c2% and a similar pattern has emerged with the biggest losers on Friday also showing the biggest losses today. Oil, resources and pharmaceuticals feature in the top five FTSE100 performers with gains of between 2.5% and 9.25%.

    So is it credible to believe that the outlook for UK economic growth has deteriorated so sharply to justify these share price moves?

    After all, at face value nothing will change in the short term as we will remain in the European Union for at least another 2 years and will have full access to the single market during that time.

    -A weaker currency will import inflation making goods ‘on the shelf’, holidays and petrol more expensive to buy, thus diminishing purchasing power.

    -Listed retailers tend to purchase a lot of their goods overseas and sell them in Sterling and therefore retailers’ margins will be under pressure from the weaker currency, whilst demand may suffer as consumers may have less disposable income to spend.

    -Despite the weaker currency making the UK a more competitive place to manufacture goods for export, foreign direct investment will be curtailed due to uncertainty over future access to the single market. This could have an impact on employment and therefore consumer confidence.

    -Diminished consumer confidence and headlines trumpeting an acceleration of house price declines in London (as employees in global financial service companies, buy to let and international investors shy away from the market) could undermine house prices nationally.

    -In such an environment, banks may make it more difficult for borrowers to access mortgages and loans, although interest rates should remain lower for longer.

    -Whilst occupational demand and supply for commercial real estate in London is tight currently, the demand side of the equation may soften thus reducing build activity and the upward pressure on rents. This may signal a turn in the cycle leading to reduced demand from investors and lower prices.

    -If economic growth dips materially in the coming months as a result of the above, the tax take will undershoot whilst the demands on social payments will rise, thus exacerbating an already large budget deficit. A future government may have to take some unpalatable decisions concerning taxes and spending which could undermine growth still further.

    If the above held true, then the immediate future for the UK economy would be bleak. Crucially as mentioned above, investors bought, rather than sold, gilts (UK government debt) on the day of the referendum result demonstrating that international investors believe that UK policy makers will continue to manage the economy prudently. These investors, therefore, are looking at the current weakness in Sterling as an opportunity to invest.

    Therefore we believe that the moves in the share prices of many domestically focused, economically sensitive companies listed on the London Stock Exchange look overdone and there will be opportunities where the market has over-reacted to the referendum news.

    It must be stressed, however, that confidence must be maintained and this will be testing/difficult where the two main political parties are in turmoil in terms of leadership and policy. Cameron will stand down as Prime Minister, and the Labour Shadow cabinet has seen a raft of resignations which have severely undermined Jeremy Corbyn’s position as Leader of the Opposition.

    We are likely to see a rollercoaster ride over the coming weeks, but the key message is to keep calm and not make irrational decisions based on short term emotions.

    If you would like to speak to one of our Brighton based Independent Financial Advisers about your portfolio we would be very happy to discuss the current position with you.

    Ian Poysden – Managing Director - IEP Financial

  • 28 June 2016 2:22 PM | Deleted user


    Worthing had cause for celebration after a successful evening at the LABC Building Excellence Awards, on Friday 24th June.

     

    The Beach Hotel & Residences, home to the new Premier Inn and a range of luxury apartments on Worthing’s seafront, took home the accolade for Best High Volume Housing Development.

     

    The project was delivered in partnership by Westbrooke Developments Ltd, ECE Architecture Ltd and Roffey Homes. The award also came to the delight of Adur & Worthing Building Control Partnership, who managed the building control for the development.

     

    Jane Eckford, Director for Customer Service at Adur & Worthing Councils, commented:

     

    “This is a fabulous achievement for our seafront, and particularly for the Council’s Building Control team. Bringing a nationally recognised hotel brand to Worthing was a win in itself and we can take great pride in having the wider development commended. The team are very dedicated to working with developers to achieve our joint ambitions for the town. We’d like to send our congratulations to Westbrooke, ECE and Roffey Homes.”

     

    The award comes in the South East regional category, with the winners progressing to compete nationally against winners from other parts on the country. 

     

    The Building Excellence Awards focus on the vital elements that create excellent buildings, such as technical innovation, sustainability and performance, as well as working relationships which produce creative solutions.

     

    Other finalists from Adur and Worthing, who were commended with a framed certificate, included:

    • Nominated for Best Individual New Home: Byde a Wee, Mill Lane, Worthing (RDA Construction Sussex Ltd, P B Properties)
    • Nominated for Best Small New Housing Development: Ship Street, Shoreham by Sea (Bramber Construction, James Breckell Architects)
    • Nominated for LABC Site Agent of the Year: Karl Eckert (Westbrooke Developments Ltd)

     


  • 24 June 2016 3:59 PM | Deleted user

    The UK has voted by 52 per cent to 48 per cent to leave the European Union following a historic referendum.

    Turnout was 72 per cent with more than 30 million people voting, the highest number since the General Election in 1992.

    LATEST: David Cameron resigns in wake of Brexit vote

    Wales and the majority of England outside London voted in large numbers to leave. Scotland was heavily in favour of remaining in the EU.

    The majority of Kent, along with South Coast cities and towns including Southampton, Portsmouth, Fareham and Eastleigh, voted to leave, while Winchester, East Hampshire, West Berkshire, Oxfordshire and large parts of Surrey and Sussex voted to remain.

    Following the result, which was officially declared just after 6am this morning (24 June 2016), the pound fell to its lowest level against the dollar since 1985. The FTSE100 fell by more than 8 per cent within minutes of markets opening as panic gripped trading floors.

    Business leaders across the UK have been giving their initial reactions to the Brexit vote.

    Simon Walker, director general of the Institute of Directors, said it was "imperative" that political leaders manage the transition as smoothly as possible.

    "The weeks and months ahead are going to be a nervy time for business leaders, so they have to know that the government is focussed on maintaining stability while a new relationship with the EU is established," he said.

    "British businesses are resilient and, with their characteristic ingenuity, they will weather this storm. It is now beholden on politicians to negotiate a deal with European leaders which preserves the ability of British firms to trade easily with the remaining member states."

    Dr Adam Marshall, British Chambers of Commerce's acting director general, agreed that "stability and political clarity" has to be the focus.

    He said: "All companies will expect swift, decisive, and coordinated action from the government and the Bank of England to stabilise markets if trading conditions or the availability of capital change dramatically.

    "Firms across the UK want an immediate and unambiguous statement from the Prime Minister on next steps, along with a clear timeline for the UK's exit from the European Union."

    Carolyn Fairbairn, CBI Director-General, said: "The urgent priority now is to reassure the markets. We need strong and calm leadership from the government, working with the Bank of England, to shore up confidence and stability in the economy.

    "The choices we make over the coming months will affect generations to come. This is not a time for rushed decisions."

    Credit: Insider Media 

  • 24 June 2016 1:47 PM | Deleted user


    David Sheppard, Chairman of the Sussex Chamber of Commerce and Dr Adam Marshall, British Chamber of Commerce Acting Director General, said:

     

    "In the wake of the electorate's historic decision to leave the European Union, the immediate priorities for UK business are market stability and political clarity.

     

    "Some businesspeople will be pleased with the result, and others resigned to it. Yet all companies will expect swift, decisive, and coordinated action from the government and the Bank of England to stabilise markets if trading conditions or the availability of capital change dramatically.

     

    "Firms across the UK want an immediate and unambiguous statement from the Prime Minister on next steps, along with a clear timeline for the UK's exit from the European Union.

     

    "Business will also want to see a detailed plan to support the economy during the coming transition period - as confidence, investment, hiring and growth would all be deeply affected by a prolonged period of uncertainty. If ever there were a time to ditch the straight-jacket of fiscal rules for investment in a better business infrastructure, this is it.

     

    "Businesses need action to maintain economic stability, a timeline for exit, and answers to their many practical, real-world questions about doing business during and after this historic transition.

     

    "Firms want help to get Britain back to business at a time of great uncertainty. The health of the economy must be the number one priority – not the Westminster political post-mortem.”

     

  • 24 June 2016 1:46 PM | Deleted user

    'Don't Panic!' may be a famous line from Dad's Army, but it's very apt for the position the United Kingdom now finds itself in.  

    On the back of the referendum result, the government is mandated to trigger Article 50 – the mechanism by which we start negotiations to leave the EU. The mechanism once triggered, means that unless both the EU and UK agree to extend the timeframe, at the end of a two year period the treaties of the European Union would cease to be applicable to the UK and our membership will be at an end.

    That two year period means that nothing will change quickly. That is both good and bad.  Good because we should see a measure of stability returning to the markets once the initial panic subsides, bad because we will be living in a Brexit limbo, and uncertainty is the enemy of business confidence. 

    Our Government

    Over the next few months and before the Conservative Party conference, we will also see a new leader of the Conservative Party and ergo, a new Prime Minister. The outcome and the consequence it will have on George Osborne's position as Chancellor of the Exchequer is at the time of writing unknown. Again, the sooner we can put certainty back into the political system, the better. Mark Carney at the Bank of England has issued reassurance around the financial stability of the UK and of course there are contingency plans to deal with any potential instability the result may put into the system.

    Challenges and Opportunities 

    Together with our professional networks across many of the backbone sectors and professions we will be keeping a close eye on developments and working to support businesses across the region. The good news is that we have at least a two year period in which to plan for Brexit and so we will be looking to help our clients to understand the implications and plan for the future, both in terms of the challenges and opportunities that come along as a consequence of this historic and momentous decision.

    In other news, do take a look at our events below, including a seminar around Arthur Online which is specifically aimed at helping landlords together with the launch of our new Manufacturing, Engineering and Technology Alliance – METALL – more details below. 


    Chris Coopey
    Partner and Practice Director of Carpenter Box

    Read more here: http://www.carpenterbox.com/


  • 24 June 2016 11:19 AM | Deleted user

    Coast to Capital LEP recognise the significant proportion of economic growth in our region will come from businesses trading internationally. Coast to Capital and its partners surveyed companies four years ago and we want to gauge the current level of international export activity to understand trends and related issues. This is being done in the form of a survey, which is linked here: http://goo.gl/forms/DgLUHsuoj1P1tgE22
     
    Findings from the survey will help Coast to Capital, and its partners, focus funding on initiatives and programmes to help small and medium sized businesses explore new international markets.
     
    Coast to Capital would be very grateful if you complete the linked survey which should take no more than 10 minutes to complete.  We will publish findings from the survey in a report to follow. Please feel free to pass this survey on to whoever you feel it is relevant.

  • 24 June 2016 11:17 AM | Deleted user

    There are only seven days left until Worthing Street Velodrome 2016 opens on Beach House Grounds.  What will you be doing next weekend (and if it isn’t Velodrome related, maybe it’s time to change your plans and get on the track for a free have-a-go session?)

    Powering back onto Beach House Grounds from Friday 1st July, Worthing’s Street Velodrome builds on the success of the inaugural 2015 event.  With a dedicated schools’ day on the Friday, free public drop-in tuition & have-a-go sessions on Saturday 2nd July followed by amateur and pro-level competitive races on Sunday 3rd July, it’s going to be a sun-drenched, fast-paced and adrenaline fuelled fun family weekend!

    In addition to the track action, there will be a range of cycling related trade stands, an international pop-up food arena - with an emphasis on healthy and freshly made foods - from the Proto Group, further edible delights from other local providers alongside a live acoustic music stage hosted by Northbrook College and Shoreham Allstars, and plenty more to make the weekend go with a spin.

    After the track action and free have-a-go on Saturday 2 June, the acoustic stage will remain open until 9pm, with food and drink continuing to be provided until the last note of the evening’s entertainment rings out.

    The music stage is a new addition for the 2016 Worthing StreetVelodrome and will feature Northbrook current and graduating students, together with the stars of the recent S'koolFest concert, which featured the best under 18 bands and singers, alongside the Shoreham Allstars, fresh from their appearance at Wildlife Festival.

    Sunday 3rd July will also begin with a Peloton along the Prom starting at 09:30 from the seafront shelter at the foot of George V Avenue,  organised by Worthing resident Jeremy Strutt.

    Coaching amateur riders around the tightly banked track will be Rowena Price, who rode to local and then national victory in 2015’s amateur competition.  Now a Pro Rider with the South Coast Rollers (Worthing’s home team), Rowena will be sharing her skills with the town’s amateur riders who will be competing for a space on the South Coast Roller team for the London finals alongside Rowena and fellow SCR Pro Rider Jack Ravenscroft.  You can read more about Rowena’s story - and her hopes for 2016 - here (http://worthingstreetvelodrome.co.uk/worthings-rowena-to-defend-her-street-velodrome-title-just-one-month-to-go/)

    For more information, including an up to date event schedule, please visit the dedicated website - www.WorthingStreetVelodrome.co.uk - or follow the action through Twitter using the hashtag #WorthingSV16.  Local residents are reminded that for the duration of the competition, the event will be using the southern portion of the Beach House pay and display car park.  


  • 24 June 2016 9:39 AM | Tracie Davey (Administrator)

    Worthing RFC are hosting a Worthing 7's & Beer Festival on Saturday 16th July 2016 and will be running Men's and Women's competitions. 

    Cash Prizes available for Men's Cup Final Winners and Women's Cup Final Winners!!

    The Men's tournament this year is aimed at teams from leagues Sussex 1 (RFU Level 9) and below.

    The Women's tournament is aimed at South East 1 leagues (and equivalent) and below. However, social or touring sides from other clubs are also very welcome to enter a team.

    Team entry is just £85 which includes camping! Teams are advised to please read our Information sheet and FAQ sheet.

    At Worthing 7's, there is also a fantastic Beer Festival with the outside bar stocked with a large variety of Sussex beers, supporting our local breweries.

    The incredible 'Phonic Boom' booked for this year's evening party. The fancy dress theme will be South America to run in line with Rio Olympic 7s !

    For regular updates, follow Worthing RFC's Facebook page 'Worthing 7’s and Beer Festival'. Worthing RFC are also on Twitter 'Worthing7s', where they will be announcing teams as they enter! #Worthing7s

    Click here for more information on the event



  • 21 June 2016 3:08 PM | Deleted user




    Can you help out Worthing Churches Homeless Projects? WCHP are looking for items to help their clients set up when they move out.  They also might get used for local families or individuals who are struggling financially and need a bit of support to help prevent them getting to crisis point. 

    If the item is something that WCHP can sell in their shops to raise money for the charity then it may be used for this. 

    Who knew that lamp that doesn’t go with your new wallpaper had such a variety of lifestyle options ahead of it?!

    ______________________________________________________________________

    Small Items

    Working kettles

    Working toasters

    Tin openers

    Cooking utensils

    Working Lamps

    Sleeping Bags

    Tinned tomatoes (can you believe)

    Tea spoons


    Slightly bigger items

    Good working order and condition microwaves

    Single duvet sets, especially suitable for men

    As new duvets preferably laundered. Single and double


    Big items

    Beds

    Furniture in good condition

    ______________________________________________________________________

    Contact Rachel Blair if you can help - Community Fundraiser - 01903 286480


  • 21 June 2016 11:35 AM | Deleted user

    After a successful run at the Underbelly’s Circus Hub, Edinburgh this summer, Jacksons Lane presents Lost in Translation Circus The Hogwallops on its UK tour.

    Thrillingly spectacular circus skills blend seamlessly with physical comedy, clowning, juggling, theatrical storytelling and slapstick in this colourful, loud and funny dramatisation of the domestic adventures of a chaotic, dysfunctional family of misfits.

    The Hogwallops are a vulgar, grotesque family who constantly bicker, scheme and play practical jokes on each other. Their crazy home resembles an adventure playground where the ordinary inevitably becomes extraordinary! Everyday activities take on extreme forms, simple tasks such as hanging out the washing become a clothes fight of swinging, flying bodies and fabric. Dinner time becomes a teasing game of animalistic juggling and a cooking lesson takes on dangerous proportions with household furniture stacked to the roof in a most precarious balanced fashion.

    Fast rising UK based contemporary circus company Lost In Translation display heart stopping virtuosic skilful aerial and floor acrobatics. An original live score contributes to the mix creating a quirky and comic family show in the true sense. A treat for the eyes and ears with thrills, gasps, laughs and drama - there’s plenty for both adults and children to enjoy.

    After the opening performance on Friday 8th July there will also be a post-show Q&A with Adrian Berry, Artistic Director of Jacksons Lane, which is free for ticket holders to attend.

    Jacksons Lane is one of the UK’s leading producers of new small-mid scale circus, and this is first time it is producing its own tour. Adrian Berry, Artistic Director, said “This year we turn 40 and have announced two major new circus commissions, so the news that we will be touring a large scale new circus production across England could not be better timing; for ourselves, the circus sector and audiences across the country. Lost in Translation Circus are one of the brightest and most exciting companies in the country and we are thrilled to be working with other venues to support their programmes, audiences and communities with performances and participation. Circus is everywhere today and we are thrilled to be at the centre of its amazing growth.”

    Lost in Translation is UK based with a multi-cultural membership with strong links to Belgium Italy and Australia and performers originating from Italy, France, Ireland and Australia. Founded by circus space graduates in 2006 as an acrobatic duo, the company has toured widely throughout the UK and Europe ever since. Transformed into a full-blown ensemble in 2011 the company moved to Norfolk in 2013 to become company in residence with leading UK circus and street arts development charity Seachange Arts where they run the circus education program. Their strength, flexibility and experience are their greatest assets. LIT are children of the circus, ready to share their vision of a world full of fun, acrobatics and laughter.

    The Hogwallops is a co-production between Jacksons Lane and Lost in Translation Circus, funded by the Arts Council England Strategic Touring Programme. 

    ___________________________________________________________________

    Date: Friday 8th July & Saturday 9th July 2016

    Time: 7:30pm Friday, 2.30pm & 7:30pm Saturday

    Price: £15.50, Concession/Student £14, Friends £12.50, Family £48

    Venue: Pavilion Theatre, Union Place, Worthing, West Sussex, BN11 3PX

    Box office: 01903 206 206 or online at www.worthingtheatres.co.uk


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