The BizQuiz: Norfolk weathers the retail storm by revealing some positive findings this year
PUBLISHED: 11:27 19 October 2018 | UPDATED: 11:27 19 October 2018
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In a week of highs and lows for the retail world, Norfolk has weathered the storm with some positive stories coming out of the county’s business community.
This week we celebrated the successes of one of Norwich’s oldest businesses, as well as promoting the new as the EDP Business Awards 2018 finalists are announced.
Of course, don’t forget to give our BizQuiz a go, and have a read of the stories you might have missed this week:
• LEP opens £19m warchest for projects to boost Norfolk and Suffolk’s skills A new £19m pot has been unveiled for projects which will boost skills and productivity across Norfolk and Suffolk.
The cash provided by the New Anglia LEP is aimed at long-term targets such as turning the two counties’ £35bn economy by 50% by 2036, creating 88,000 new jobs and 30,000 new businesses, while measurably improving skills and productivity levels in the region.
• Aviva says transfer to Ireland will not affect jobs in Norwich
Insurance firm Aviva has offered reassurance that setting up an Irish subsidiary will not impact on jobs or customers in the UK.
Irish news outlet RTE reported that the company was transferring the administration of insurance policies from the UK to Ireland, to safeguard against the possible implications of Brexit. Irish customers and a small number of UK customers will be affected.
• Revealed: The finalists for the Norfolk Business Awards 2018
The finalists for the Norfolk Business Awards 2018 have been revealed, underlining once more the strength and diversity of the county’s business scene.
This year the shortlists have been expanded to four companies, allowing even greater scope for the county to reflect on its successes when the awards are held at the Norfolk Showground Arena on November 22.
Take a look at our story to see the full list and categories.
• ‘Another solid year’ – but Jarrold chairman warns of retail challenges for company
Newly-filed accounts at Jarrold and Sons reveal that turnover and operating profit edged up last year, and that the 248-year-old company’s retail arm had benefited from investment in new facilities.
Turnover grew slightly in the year to the end of January 2018, rising to £31.818m from £31.623m a year earlier. Operating profit, which strips out the impact of investment property revaluations, was £3.868m, up from £3.799m the year before.
• Norfolk Limited: New report shows how rising costs have hit profits at county’s biggest businesses
Norfolk’s biggest companies have seen growth in turnover, staffing and investment in the past year - but profitability has not kept pace.
These are some of the findings from Grant Thornton’s latest Norfolk Limited report, which found that rising input costs have eaten away at profits despite top-line growth outstripping the national average.
• Norfolk and Suffolk bid to woo global investors at international showcase
Norfolk and Suffolk’s biggest development opportunities were presented to global investors at the Mipim UK event at Olympia UK on Wednesday and Thursday.
Business leaders outlined 38 sites offered for investment across every district in the region – the biggest offer the two counties have taken in their third appearance at the event.