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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 


  • 01 November 2023 11:59 AM | Anonymous

    Transport Research and Innovation Grants Open for 2023

    The Transport Research and Innovation Grant (TRIG) supports future leaders in transport innovation by awarding funding for the development of new technology. The programme also provides a collaborative space for innovators to work with the Department for Transport (DfT) on realising shared goals.

    For TRIG 2023, DfT will offer innovators grants of up to £45,000 across five separate challenge areas, in addition to an Open Call challenge to undertake early stage feasibility studies.

    • Challenge 1: Open Call
    • Challenge 2: Local Transport Decarbonisation
    • Challenge 3: Airport Decarbonisation
    • Challenge 4: Future of Freight
    • Challenge 5: Connectivity, AI and Digital Twins
    • Challenge 6: Maritime Decarbonisation

    TRIG is open to SMEs, large businesses, universities, and research and technology organisations based in the UK. The funder will consider proposals from consortia. However, the lead applicant who will receive the funding must be identified.

    The deadline for applications is 27 November 2023.

    For full eligibility and to apply click here 

  • 01 November 2023 11:42 AM | Anonymous

    New Grants to Decarbonise the UK’s Creative Industries

    The Creative Catalyst Challenge Fund is a grant fund of up to £250,000, available to enable creative talent to apply their capacity for innovation to tackle a specific challenge within the industry.

    In this case, it is intended to be used for the research and development of an idea, product, system or process that reduces waste within the Creative Industries, decarbonises and/or reduces impact on our climate.

    We may choose to make one award of £250,000 or a number of smaller awards up to the £250,000 total, depending on applications.

    Your proposal must:

    • be from the creative industries and support the creative industries
    • demonstrate clear benefits for the UK creative industry and the wider UK
    • focus on a clear opportunity and the proposed innovation which addresses it
    • Have a total grant funding request of no more than £250,000*
    • Start by 01st April 2024
    • Last between 6 and 12 months
    • Carry out all of its project work in the UK
    • Intend to exploit the results from or in the UK
    Who is it for?
    • TV & Broadcasting 
    • Film
    • Gaming
    • Music & Sound
    • Design (Fashion, Interiors, Furniture, Product, Jewellery etc)
    • Advertising & Marketing
    • Crafts
    • Visual Arts
    • Dance, Theatre & Performance
    • Architecture
    • Publishing
    • AR, VR & Immersive
    • Createch
    Any questions? Contact us
    ***Applications are now open***

    Your project must:

    *Project budgets can exceed £250,000 but any additional funding must be clearly identified and in place*

    _______________

    Applications are invited from UK Registered Ltd Companies/SMEs working in any subsector of the Creative Industries.

    This may include: 

    Proposals need to be for new projects – we can’t fund projects that are already in progress.

    We are looking for high potential businesses in the creative sector. Ideally you have been registered and trading for 2+ years and/or you have demonstrable traction and experience within the creative sector

    You must provide a robust delivery plan and finance model and demonstrate how this grant will positively impact not only our climate but also the growth and sustainability of your business.

    _____________________________________________________

    Deadline for Applications is Monday 27th November 2023 12pm.

    Full Guidelines can be found here

  • 01 November 2023 11:19 AM | Anonymous

    Join the Festive Fun and fundraise for Guild Care!

    All money raised during Festive Fun will go towards our aim to reduce social isolation and stigma, in adults, adults living with dementia and adults and children living with learning disabilities.

    We have ideas, activities, social media posts and much more! – visit our website for more information https://www.guildcare.org/festive-fun

    Open our festive fun pack here and for additional activities for children click here




  • 01 November 2023 11:13 AM | Anonymous

    Worthing Borough Council - Public Consultation: Worthing Conservation Area Reviews

    Worthing Borough Council has undertaken a review of Goring Hall Conservation Area and Steyne Gardens Conservation Area. With regards to Goring Hall, the Council is consulting on a draft conservation area character appraisal. For Steyne Gardens, the Council is consulting on proposed revisions to the boundaries of this conservation area, and a draft conservation area character appraisal. In addition, a new conservation area is proposed to be designated at Marine Gardens.

    The consultation period runs from 19 October 2023 – 30 November 2023. More details, including how to respond, can be found by following the link below:

    https://www.adur-worthing.gov.uk/consultations 

    Alternatively, copies of the documents and response forms can be found at Worthing Town Hall, Worthing Library and Goring Library during office opening hours. 


  • 01 November 2023 10:07 AM | Anonymous

    Sussex manufacturers look to AI for productivity gains

    Around one in four local manufacturers expect to adopt artificial intelligence (AI) in the next 12 months to improve business operations and productivity.

    At the same time, there is strong support across the sector to achieve net zero, with many actively pursuing measures to reduce their environmental impact.

    These headlines were revealed at the latest meeting of METALL (Manufacturing Engineering Technology Alliance), a forum for manufacturing, engineering and technology businesses hosted by leading Sussex and South East accountancy firm, Carpenter Box.

    Tony Summers, Partner and Head of Manufacturing and Engineering at Carpenter Box commented: “It’s good to see the Sussex manufacturing sector successfully addressing many of the challenges it currently faces. Recovery from Covid was stronger than expected and there is growing interest in how AI adoption could positively impact productivity.

    “Net Zero, of course, is a key focus for the sector and many businesses have already taken significant steps towards making their operations more environmentally friendly. These include electrifying their fleet of vehicles, insulating their buildings, adjusting their heating and cooling systems and installing their own renewable electricity or heating.”

    Also at the METALL event, Marcus Wright, Senior Economist, NatWest Group provided the forum with an overview of the UK economy and the key trends emerging for the manufacturing sector.

    The sharp rise in the cost of finance has led to a significant decline in the desire of businesses to stockpile goods,” said Marcus. “Of those manufacturing firms planning to adopt AI, the most common reason is to improve business operations, however, the largest reported obstacles are lack of expertise and upfront costs.”

    He added that with inflation expected to fall to 3% by the end of 2024 and interest rates at or approaching their peak, trading conditions for manufacturers are expected to improve.

     METALL is sponsored by sector specialists Carpenter Box, DMH Stallard and NatWest.

    www.carpenterbox.com

    (Photo (l-r): David Greenough, NatWest, Tony Summers, Carpenter Box, Marcus Wright, NatWest and Debbie Venn, DMH Stallard)


  • 25 October 2023 11:35 AM | Lauren Martin-Grieveson (Administrator)
    Timeless Tapestry of Worthing

    Own a Piece of Worthing’s Timeless Charm Today

    A strictly limited edition of 150 prints by Worthing Artist, Vicky Anne Vaughan


    Step into a world where art intertwines with cherished memories. The Timeless Tapestry of Worthing is not just an artwork; it’s a transformative centrepiece for your home, measuring 1 metre x 50cm, guaranteed to spark delightful conversations and draw smiles from every house guest. From intricate details like sipping tea in beach huts to the iconic High Salvington Windmill, each element is a nod to nostalgia and Worthing’s charm. My vision has always been clear: to make people smile and to spotlight forgotten and neglected buildings through uplifting art, greeting cards, gifts, and home decor.

    A Journey Awaits: Dive deeper into the Timeless Tapestry with a free video that offers a zoomed-in journey of the piece, allowing you to appreciate every detail and story interwoven in the artwork.

    October Offer:

    Enjoy this masterpiece of nostalgia with elegance for £450. Normal price from 1st November is £550.

    Two Exclusive Offers for Chamber Members:

    • To add a personal touch, Chamber members can have their workplace or home incorporated into the artwork for an additional £425, weaving together our individual and community tales.
    • Purchases made through my website come with a special 10% discount using the code WACTTW10%-2023.

    www.madebymebythesea.co.uk

  • 17 October 2023 12:21 PM | Anonymous

    Carpenter Box expands its Brighton operation

    Leading Sussex and South East accountancy firm, Carpenter Box, is expanding its presence in Brighton to meet growing demand for its tax and finance services.

    The firm, which also has offices in Worthing, Crawley, Chichester and London, moved to shared office space in Brighton in April 2019, but has now opened dedicated premises for the 20-strong team based in the city offering advice to companies and individuals.

    The new office will help Carpenter Box grow the client base for its tax, accountancy, business advice and wealth management services for High Net Worth individuals. In addition, the location will help the firm expand the reach of its StarBox brand, which provides specialist accountancy and business advice to new media entrepreneurs, including app and game developers.

    The Brighton office is led by Stuart Noakes, Partner & Head of Tax Services at Carpenter Box, who commented: “Brighton is home to so many great businesses and entrepreneurs and we’re delighted to be a growing part of that community.

    “The city provides a really vibrant location for our accountancy and wealth management services, and it’s the perfect home for our StarBox team, who provide new media companies and digital platform content creators with the expert finance and tax advice they need.”

    Carpenter Box employs around 225 Partners and staff across its five offices and is celebrating 100 years in business in 2023.

    www.carpenterbox.com


  • 11 October 2023 12:03 PM | Anonymous

    Kreston Reeves celebrates double award win at the Accounting Excellence Awards 2023

    Accountants, business, and wealth advisers Kreston Reeves is celebrating winning two awards at the Accounting Excellence Awards 2023 and being a finalist in a third category.

    The firm won:

    • AccountingWEB Pride Award – ESG (a new category for 2023)
    • And, Progressive Audit Firm of the Year

    The firm was also a finalist in the Large firm of the Year category, receiving a special commendation again this year following winning the award for the last three consecutive years.

    Jennifer Williamson, Partner and Head of Culture and Values at Kreston Reeves, comments: “We are absolutely delighted to have won the new ESG award. It means a lot to us as it was in recognition of our journey to being a purpose-driven firm and a B Corp and all our people are integral to this journey. Our focus on this is important to our clients and our teams, so we are very proud that this hard work and commitment has been recognised in this new award for the industry.”

    Michael Cook, Partner and Head of Audit at Kreston Reeves, comments: “I’m so proud of our Audit team for winning Progressive Audit Firm of the Year! This award not only recognises the innovation and quality of our audit work but also our focus on people and collaboration which gives us a clear understanding of our clients and their businesses.”

    Andrew Griggs, Senior Partner at Kreston Reeves, comments: “Congratulations and thank you to everyone at Kreston Reeves for achieving these awards for our firm. It was our second double award win in just a few days which is fantastic recognition for our teams. Our people’s collective efforts, having a clear strategy driven by our purpose and the collaborative evolution of our firm’s offering makes us stand out in the accountancy profession. I’m truly ecstatic of what all our people have achieved together.”


  • 11 October 2023 11:13 AM | Anonymous

    Market Commentary from George Square Financial Management in conjunction with Albemarle Street Partners

    Short-term problems and long-term transformation 

    This month focuses on the usual short-term challenges that markets are encountering as central banks wrestle with when to stop raising interest rates. But we also take a step back and look out to the long-term to examine how the artificial intelligence revolution could drive portfolio returns over the next decade.  

    The key, we are told, to learning to ride a bike is to stare into the distance and not down at the wobbly wheel in front of us. However, this is a hard thing to do on those early, frightening journeys. 

    Today, if we stare down at the markets right in front of us, we see a wobbly wheel. Central banks are seeking to navigate the peak in interest rates. Whilst there is evidence inflation is falling, which enables them to lower rates again, they cannot take this action until they are sure the inflationary enemy is driven away. They are, after all, seeking the most elusive of economic phenomenon, a ‘soft landing’. This is a situation where rates rise enough to bring down inflation without causing a recession.  

    The US Federal Reserve and the Bank of England decided to take a ‘wait and see’ approach in September.  Both central banks highlighted continued vigilance as they kept policy rates unchanged.  

    However, the Federal Reserve went further and hinted at another rate increase by year end. This took investors by surprise and bonds sold off in recognition. 

    The US economy has shown remarkable resilience in the face of tighter monetary policy, with strong job creation and consumer spending keeping GDP growth positive even as inflation remains high.  

     

    This stands in contrast to Europe and the UK, where growth has slowed more noticeably due to spillovers from the Russia-Ukraine war and energy cost pressures. This has led investors to believe that US rates will stay higher for longer than the rest of the world. This is now being priced into currency markets and the US dollar has risen significantly against the euro and sterling. While the US is better positioned for now, its consumer and labour markets will be tested against a backdrop of global slowdown. 

    Oil prices climbed in September on tight supply worries, benefiting the energy sector. Higher crude adds inflation pressures, complicating central banks' aim to cool prices. Lower OPEC output and uncertainty over a proposed Western price cap on Russian oil have fuelled supply constraints. Meanwhile, demand remains solid despite economic headwinds. The increase in oil prices seen over the past few months highlights the complex interplay between geopolitics, supply dynamics, and market forces that impact commodity prices. 

    Equities declined in September, led by large technology shares, capping a painful third quarter. However, stocks could rebound if upcoming third quarter earnings confirm stability in corporate margins amid weak but still positive earnings growth. Valuations have moderated and improving trends in key sectors could lift sentiment while waiting for a rebound in cyclicals. Investors will be watching earnings closely to gauge the resilience of corporate profits in the face of rising risks. 

    Government and corporate bonds declined as rising yields hurt bond prices. Yields are unlikely to fall substantially until core-inflation (inflation ex-food and energy) declines meaningfully. While rate cuts may still be a way off, policy actions mitigate inflation risks and support bond prices. For multi-asset investors bonds can play an important role in portfolios, offering returns and diversification. 

    Navigating markets remains challenging as central banks combat high inflation, but risks of a severe global downturn have diminished. Equity markets have repriced significantly, reducing overvaluation. We are concerned about China's slowdown, but global growth should find a floor eventually. Our equity allocation emphasises quality companies with pricing power and stable margins. In fixed income, neutral duration provides stability amid rising recession worries. Portfolios are diversified across assets and geographies to withstand volatility. We are monitoring risks closely and can get more defensive if conditions deteriorate materially. Overall, staying invested in a balanced, diversified portfolio gives investors the best chance of participating when the clouds clear. 

    The Long-term view 

    The past few years, beset as they have been with crises, have led many people to question whether markets will ever return to winning ways. 

    But despite pandemics, wars and inflationary surges the long-term case for making strong returns over the next decade remains intact. It is built on one central thing; the capacity of humans to build an ever more productive economy.  This is because it is improving productivity that powers economic growth. In the words of economist Paul Krugman it isn’t everything but ‘it is almost everything.’ 

    So, to believe that equities will trend upwards over the long-term we must believe that our economy will carry on becoming more productive. Crucially, after major crises there will always be powerful voices who will argue that the productivity gains of the past cannot be repeated. It is after all far easier to look backwards at the productivity gains of the computer or the motor car and see how it has transformed the economy, than it is to look ahead at an only just emerging technology like artificial intelligence and believe that its impact could be as large.  

    The same problem of failing to really believe that each new wave of technological innovation can be as great as the past wave has plagued economists for generations. In the words of Bank of Italy economist Patrizio Pagana ‘in retrospect it emerges that pessimistic predictions were wrong neither because they were built on erroneous theories or data, nor because they failed to predict new technologies, but because they underestimated the potential of the technologies that already existed.’ 

    Technology is a powerful driver of productivity because it increases what economists call ‘total factor productivity’ that typically delivers around half of all productivity growth. This is, in essence, a measure of how much more valuable the things coming out of the end of an economy are than the things going in the front. For example, a man attempting to build a rabbit hutch with a perfectly good pile of wood and failing, leaving only a pile of broken and butchered wood on the floor, would have a negative total factor productivity. A skilled carpenter who turned the wood into a beautiful rabbit hutch would have positive. Technology improves the ability for ordinary people to take the inputs of an economy and make them more valuable. 

    The next decade could be the period of the most rapid productivity growth since the early 1990s when the personal computer arrived. Goldman Sachs estimates that by 2030 global productivity will be improving by 1.5% a year due to artificial intelligence. This is massive by economic standards and offers compelling long-term opportunities for investors. 

    We of course continue to monitorglobal economies and financial markets.  

    You will be aware that the last years have been challenging but we remain optimistic that is light at the end of a very long tunnel. 

     As always please let me know if there are any queries or comments. 

    Parry Leggett Dip PFS EFA  

     


  • 10 October 2023 1:33 PM | Anonymous

    Safe in Sussex announce Big Give Women & Girls Match Fund Campaign!

    We’re excited to let you know that Safe in Sussex has been selected to participate in the Big Give Women and Girls Match Fund campaign in October.

    We’ll be raising money to assist with the expansion of our community groups to new venues in West Sussex, enabling us to support more women in safe, non-judgemental environments with qualified and experienced staff who are licenced to deliver our programmes.  We don’t receive any specific funding for our community groups but, as you can see from the quotes below from people who have attended, the impact they have is huge.

    “I feel less alone and isolated, knowing others have had similar experiences and it was great to talk with people who understood.”

    “It has made me realise that there was nothing wrong with me. The relief I now feel is unbelievable.”

    “My confidence and self-esteem is improving every day. … I now know there was nothing wrong with me and nothing was in my head. I cannot wait to move forward with my life knowing what I know now and not constantly blaming myself.”

    Donations to this project will be matched for 7 days from midday 12pm (midday) on Wednesday 11th October to 12pm on Wednesday 18th October.

    One donation, twice the impact.

    What happens during the campaign?

    Donations made to our project via BigGive.org will be doubled during the campaign. If you’d like to support our work this year, we highly recommend doing so during the Women and Girls Match Fund when your donation will be doubled and make even more of a difference to us. We’re looking to raise £5,000 and in order to reach the £5,000 target, we need to raise £2,500 through online donations. 

    What do I need to do?

    ·         Add a calendar reminder to your diary for midday in Wednesday 11th October – midday on Wednesday 18th October including this link https://donate.biggive.org/campaign/a056900002RXqtyAAD (shortened link: https://bit.ly/SiSBigGive23)
    ·         Have your 3D secure card details ready when you make your donation.



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