Time Capsule of the Pandemic: London in Lockdown Page 5 2 November 2020 Issue 170 (Print) ISSN 1469-5162 (Online) ISSN 2051-9524
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Issue 170 | November 2020 www.londonbusinessmatters.co.uk COVER STORY Time capsule of the pandemic: London in lockdown Page 5 2 November 2020 Issue 170 (Print) ISSN 1469-5162 (Online) ISSN 2051-9524 Regulars Overseas business opportunities From Spain to South Korea Page 11 Events LCCI webinars – what’s been on and what’s coming up Pages 22-23 Two minute interview Timi Orija, founder of 4S Events Page 28 News from the EU Angelina Markousi on the latest from Brussels Pages 52 and 54 New members 26 Recharging and reinventing London: new report from City of London Corporation on how Who has recently joined LCCI? to emerge stronger from Covid-19 Page 56 Features Economics Magical lanterns Professor Tony Travers on In Chinatown, where else? EU Exit London’s performance 6-7 6-7 - Export documents update - Customs declaration service Air travel Yintong talks to … Key to economic Paul Finch OBE - Government transition advice prospects Pages 12-13 10 14 - Negotiation stand-off - Preparation for 1 Jan 2021 Trade with Eastern Arabian Gulf Europe Prepare for new Pages 30-32 London-Budapest bridge opportunities 15 16-17 Bikeability Black business LCCI in the news London figures in world Lord Hastings to chair new From lockdown to EU Exit top ten LCCI association via central London revival 20-21 34 36 Front cover photo by Wayne Howes London Business Matters is edited by Peter Bishop – [email protected] Official Publication of Information London Business Matters is PUBLISHING CONTACTS London Chamber of Commerce Alexa Michael – 020 7203 1866 published on behalf of London Advertising sales 33 Queen Street, London EC4R 1AP International business Chamber of Commerce and Gina Forshaw – 020 7846 4809 Tel: 020 7248 4444 Vanessa Vlotides – 020 7203 1838 Industry by gina.forshaw@crosbyassociates. Fax: 020 7489 0391 Membership sales co.uk www.londonchamber.co.uk 020 7203 1960 Production/design Member support CHAMBER CONTACTS Andy Bellis Nick Charles – 020 7203 1957 Events Crosby Associates Media Limited [email protected] Victoria Jayne – 020 7203 1875 International trade events Liverpool (Head Office): Vanessa Vlotides – 020 7203 1838 Burlington House. Crosby Road Export Documents North, Liverpool L22 0PJ Davor McKinley – 020 7203 1856 Media relations Steven Reilly-Hii – 020 7203 1897 Tel: 0330 124 3780 Enterprise Europe Network www.crosbyassociates.co.uk PEFC Certified 020 7203 1929 Sponsorship opportunities Dean Wade – 020 7556 2382 This product is from sustainably managed forests and controlled sources PEFC/16-33-254 www.pefc.org www.londonchamber.co.uk | www.londonbusinessmatters.co.uk November 2020 News 3 London moved to Tier 2 status s Covid-19 cases rise na- Matt Hancock described as the tor hard, particularly in its centre. tionwide, the govern- “steep, upward path” of infection There is bound to also be an impact Ament took urgent steps rates in the capital. London may- on retail. in mid-October to prevent the or Sadiq Khan said that this was a “Hospitality businesses are be- spread of the virus and control critical moment for the city in the tween a rock and hard place. Their the pandemic. fight against the virus. trade is impacted by the restric- A new ‘three-tier’ plan was an- The new level means that Lon- tions, yet there’s not sufficient sup- nounced, with London moving doners are not currently able to port available to help them to stay to the ‘high alert’ Tier 2, a conse- socialise with other households in- open. Many would rather be in a quence of what Health Secretary doors. Tier 3 area, as at least if they were Hospitality businesses required to close by law they would are between a rock and be able to access grants and the hard place. Their trade more generous furlough scheme. Hospitality pushed is impacted by the Reality restrictions, yet there’s “The Chancellor must realise his to the edge not sufficient support funding packages are focused on recovery, but for the next few weeks Stephen Jones share of firms did report an increase available to help them we will not be recovering, we will be reports that the in cashflow in Q3 However, it seems to stay open surviving – and his financial sup- latest results from that schemes such as Eat Out to Help port must reflect that reality or busi- LCCI’s Capital Out and VAT cuts did not have the nesses will fail. He must urgently 500 survey did not point to immediate, significant effect the Impact reassess what support is available, a significant improvement in Chancellor no doubt hoped for. Commenting on the implica- particularly to the hospitality sector, London’s economy in Q3. Recruiting remains soft, with 11 tions of the high alert status for in a Tier 2 area. per cent of firms actively looking to London business LCCI chief exec- “The government must also end relaxation of some of the hire in Q3. This was just one per cent utive Richard Burge said: “With no the 10 p.m. curfew to allow longer more severe Covid-19 meas- higher than in Q2. Only six per cent non-household mixing allowed in- trading, as whatever evidence basis A ures from the first ‘national’ of firms expected their workforce doors and a reduction in journeys they are working from will now have lockdown allowed key parts of the to grow in Q4, which was actually a on public transport requested, Tier changed due to the consequence of hospitality and leisure sectors to drop compared to expectations for 2 will hit London’s hospitality sec- Tier 2 restrictions.” open, as well as tourism. However, Q3. The Chancellor’s key Job Re- just nine per cent of businesses re- tention Scheme has so far staved off ported an increase in their domestic mass redundancies, though time will sales in Q3 across the tell whether its suc- capital – this was only Issue 169 | October 2020 cessor – the Job Sup- a small rise on Q2, port Scheme – will be where five per cent www.londonbusinessmatters.co.uk able to sustain this. firms saw sales grow. Stronger shoots of Quirks recovery were seen The government’s Power Your Business outside the Central new tiered system of Activities Zone. Firms Covid-19 restrictions, With IT That Works! that were located away designed to avoid a from the capital’s cen- national lockdown, COVER STORY Unique Central London tre saw a bigger uptick needs recovery plan have presented quirks in sales, with 11 per Pages 6-7 in how support is of- cent of businesses in How LBM covered the fered to firms. Cur- outer London noting hospitality crisis in the rently, London is in an increase in domes- capital last month the second tier at the Our four step process is simple and designed to work tic sales in Q3 – this was up from time of writing, which is essentially four per cent in Q2. Only seven per a no-man’s land in terms of financial around the needs of your business! cent of inner London firms said their aid. The Job Support Scheme offered sales had improved, just one point to firms in the ‘high’ tier is much less Meet us to Allow us to propose discuss your IT a personalised higher than in Q2. generous, whilst the new Local Re- requirements support plan strictions Support Grant Scheme has 1 2 Struggling not been made available to firms. Export demand showed almost no This needs to be addressed – Work in signs of improvement, though busi- with limits on household mixing, Agree a timeline to fit the needs of your partnership to nesses were struggling on this front hospitality will be pushed to the buisness execute the plan prior to the Covid-19 pandemic. edge once again. The government 3 4 Getting money through the door should look to help firms who have remains the key issue for the majori- not been officially told to close their ty of London businesses, with 60 per doors, but have seen their already Call us now for a friendly, no-obligation chat to see how we can help. cent saying cashflow had decreased depressed footfall drop further. 020 3790 7500 [email protected] in Q3 compared to the previous three months. By comparison, this Stephen Jones is policy research www.labyrinthIT.com share was 65 per cent in Q2. A higher manager at LCCI 4 Your business November 2020 London MPs urged to unite behind right deal for TfL LCCI and local chambers of nature of the discussions isn’t help- commerce across the capital ing either. have called on London’s MPs to come together to help find Collective interests a non-partisan and viable “London needs non-partisan solution to Transport for and viable solutions to be for- London’s funding, both in the mulated to secure the short and short and long term long-term future of its transport network, and which don’t hamper Troubling economic recovery. Chambers of CCI has warned that the na- commerce want to see London’s ture of the ongoing discus- MPs coming together to work on Lsions surrounding future gov- this in the collective interests of ernment support for TfL are deeply on the TfL network, particularly to the Mayor of London. the capital. troubling for the capital’s business into London’s centre. London’s businesses also want to Our research shows that business community. see the return of consistent central supports the network being run by LCCI and local chambers have More control government financial support, with the capital’s devolved Mayor, what- therefore to respective London MPs Chambers of commerce are also 67 per cent of firms stating that the ever political party they may repre- to warn that widening the conges- highlighting to MPs that LCCI poll- grant which was relinquished in sent.