Firms stay confident despite mounting skills shortages and weaker export prospects
Business confidence in the East of England rose to an 18-month high over the last six months but skills shortages are emerging as a major headache in the region and the outlook for exports has weakened, says the latest Business in Britain report from Lloyds Bank. Some 62 per cent of firms in the region face difficulty recruiting skilled labour; a ten-year high and up from 32 per cent in January. Amost a third of firms are struggling to recruit unskilled labour. But the net balance of firms expecting average pay to rise in the next six months fell to six per cent from 20 per cent, pointing to a cautious approach to hiring and pay. The report, based on a survey of 1,500 firms taken after the snap election had been called, says businesses in the East are feeling 'slightly more optimistic' compared with Scotland and London but lags behind top-performers including Wales, the North East and South East. A confidence index for the region, based on expected sales, orders and profits over the next six months, rose to 22 per cent, from 20 per cent in January and 19 per cent a year ago. But the outlook for exports from the region appears to have weakened. ….Read more
Top Norfolk companies in good health despite downturn in oil & gas profits
Norfolk’s leading businesses have seen a healthy growth in turnover, employment and investment although profits have been hit by the downturn in the oil, gas & energy sector according to Grant Thornton's annual survey of the 100 largest companies in the county, Norfolk Ltd. The combined turnover of the top 100 rose by 2.8% to £5.5 billion. If oil, gas & energy are excluded, their combined turnover rose by 7per cent, operating profits rose by 26 per cent and profit before tax by 18 per cent. However, if the oil, gas & energy is included, profits before tax fell by a dramatic 26 per cent per cent to £142m. Across the top 100 in the county, capital investment rose by 5.4 per cent and employment continued to rise, up by 3.5 per cent to 43,813. Food & agriculture saw the biggest rise in employment (9.5 per cent). Toby Wilson of Grant Thornton’s Norwich office, said: “This year’s findings indicate much to be positive about. Growth and investment is up and profitability across all sectors excluding oil, gas & energy has risen substantially. This optimism is emphasised by a number of businesses identified in the report who have enjoyed particular success in recent times and shown themselves to be dynamic in the face of continued uncertainties across the wider economy.”...Read more
Photo (l to r): Grant Thornton’s Toby Wilson, Tom Burdett and Tim Hansell. Back row (l-r): Andrew Dewing, Dewing Grain; Ian Watson, Start-rite; Jacyn Heavens, Epos Now and James Duez, Rainbird.
Dropping business rescue reforms could harm 'ability to compete'
The government risks harming regional businesses' ability to compete if it neglects its long-mooted business rescue reform plans during Brexit preparations, says the Eastern branch of R3. Plans to introduce the government’s year-old corporate insolvency framework reform proposals – or any other corporate governance reforms – were left out of the Queen’s Speech. R3 Eastern chairman Mark Upton, a partner at Ensors Chartered Accountants in Cambridge, said: “R3 has long argued that action to update the UK’s restructuring framework is needed to ensure it remains an international insolvency and restructuring hub after its departure from the European Union. With no mention being made of it in this year's slimmed down Queen's Speech, a question mark has been placed over whether any business rescue reforms will take place in the next two years.” Put forward in May last year, the government's plans included proposals to give business directors a 'last chance' protection from creditors in order to turn their business around before a formal insolvency procedure became necessary.
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Law firm advises on sale of cyber security firm
Ashtons Legal has advised Bury St Edmunds based cyber security company Foursys on its sale to Chess, a Cheshire-based telecoms and ICT provider. Foursys employs 50 and has seen strong growth since current directors James Miller and Jez Turner undertook an MBO in 2013. The firm provides cyber security to public sector, SMEs corporate, and enterprise organisations. Chess said the acquisition of Foursys will add more than £11m to its turnover, taking it to £120m. Foursys managing director James Miller said: “Being part of a much larger business brings new opportunities, expertise and skills in a wide range of ICT disciplines for our customers and partners.”
Geoff Hazlewood, partner and head of the corporate and commercial team at Ashtons who led the transaction for Foursys, said: “Having been involved in the management buyout in 2013, it was a pleasure assisting Foursys again with this transaction.”
Ipswich accountancy practice acquired
Jill Page Associates, an Ipswich-based accountancy practice, has been acquired by Norwich-based accountants, Aston Shaw. Director Mark Noakes said: “....the incorporation of Jill Page Associates will benefit all affected by the move, we look forward to working with Jill and her clients. The acquisition will provide a real boost for our Ipswich office, helping to grow our presence in the area.” Jill Page will continue to work with her clients, from Aston Shaw’s Ipswich office.
Cambs site bought for 'close to asking price'
The former Gladwins HGV vehicle servicing and repair centre in Warboys, Cambs has been sold to local haulage firm J Singh Transport for close to the asking price of £675,000 for a 1.88 acre yard and offices. The sale is part of Nationwide Crash Repair Centres’ property disposal programme following its acquisition of Gladwins. Agents Barker Storey Matthews and Bristol-based Burston Cook acted jointly on behalf of the national company.
World’s largest container ship calls at Felixstowe
The world’s largest container ship, the 21,413 TEU OOCL Hong Kong, recently made its maiden call at the Port of Felixstowe. It also marked the return of OOCL to the UK’s largest container port after a 17 year absence. Clemence Cheng, chief executive officer of the port and managing director of Hutchison Ports Europe, said: “The OOCL Hong Kong is the latest in a line of mega vessels to call at the Port of Felixstowe. The port’s location close to the main shipping lanes and the ports of Northern Europe, combined with a unique combination of road and rail connections, makes it the first choice for the latest generation of giant container ships." The 210,890 gross tonne vessel was built at Samsung Heavy Industries’ (SHI) shipyard in Geoje, South Korea. Measuring 400 metres in length and with a width of 58.8 metres, the OOCL Hong Kong serves the Asia-Europe trade lane as part of OOCL’s LL1 service.
Need to keep healthy retail mix in Cambridge
Cambridge is 'on the right track' when it comes to its retail property offering but the city needs to keep a healthy mix of outlets to serve local people not just tourists, says property agents Barker Storey Matthews. Research from Harper Dennis Hobbs named Cambridge as ‘the UK’s best place to shop’ but Laurence Gercke, associate director and Cambridge retail specialist at Baker Storey Matthews, believes that the city’s retail property stock offers a healthy menu of options in quite neatly defined locations and a mix which serves the purposes of property investors, retailers and indigenous and visiting shoppers alike.
Locally sourced initiative pays dividends
The East of England Co-op has seen sales of local produce rise nearly 6 per cent to £972,050 during its recent Sourced Locally Fortnight. The annual event encourages shoppers to support local businesses by making one swap in their basket for something local. Roger Grosvenor, joint chief executive at the East of England Co-op, said : “In true co-operative spirit, colleagues and producers across the region have come together over the past fortnight to talk about the importance of ‘shopping local’. That hard work has paid off and the figures speak for themselves.”
New appointments at insurance broker
Ipswich based chartered insurance broker Ryan’s has made six new appointments to its commercial sales team. Trevor Griss has worked in the insurance industry for almost 30 years and joins as a corporate account executive from Willis. Other joiners include Ryan Horsey, as account handler; Ryan Lyall who joins the hospitality division; Jake Mower as account executive; Shannon Christie who joins the corporate division and Lucy Osborne as a corporate account handler. Ryan’s has also reappointed Chloe Mowles as corporate account handler. Managing director Robin Belsom said “….I’m sure with their combined knowledge and experience they will be a great asset to the business and will help strengthen the commercial division.”
Help to win research grants
Businesses involved in scientific research or developing new technologies can get help to win innovation grants under a new initiative from the New Anglia Growth Hub and Innovate UK’s subsidiaries, Enterprise Europe Network and the Knowledge Transfer Network. Firms applying for funding will be directed to the Growth Hub for help before a formal application is submitted. Dr Morgan Potter, innovation adviser at the Growth Hub, said: “There is a problem with the low success rate of businesses obtaining research grants in the UK. It’s a highly competitive process and often businesses lack the requisite know-how on completing the application forms. This should not preclude them from applying, which is why we’re giving companies the best possible chance of success by supporting them from the start. Our success rate is over 90% under the LEP grants so if we can improve the quality of applications for research grants, then we can help drive innovation here in the East.” Two free half-day masterclasses have been organised to give firms information about how to write a good proposal and hear experiences from local businesses. The events are at Norwich Research Park on the 12th July and IP-City Centre in Ipswich on the 20th July. Contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it for more information.
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New name and look for established firm of consulting engineers
An established firm of consulting engineers based at Brightwell in Suffolk is re-launching with a new name, Ingent Consulting Engineers, and new look to deliver its focus on the design of development infrastructure. After working together for over ten years in some cases, the team offers a range of infrastructure design services. The firm, which employs 14 experienced engineers, uses the latest modeling software to produce solutions for developers of all sizes. Over the years, Ingent has acquired a comprehensive understanding of all current policies and standards to help achieve planning approvals, together with good working relationships with local authorities. Richard Wigzell, director said: “Clients tell us that one of our key strengths is our commitment to long-term relationships and continuity – many of our projects run for a number of years and have multi-million pound values. With the process of bringing development infrastructure through planning, design and approval to construction ever more complex and lengthy, Ingent has been formed to fully concentrate on this aspect of development."
Photo: The team at Ingent Consulting Engineers, with director Richard Wigzell in the foreground.
Norwich architects recruit to meet growing demand
Norwich-based architects Chaplin Farrant has increased turnover by 8 per cent and created eight new positions to increase its staff to 38 having recently won contracts in the residential, commercial and public sectors from clients seeking an integrated approach. The firm, which is 80 years old this year, has been instructed on three deployment bases for Norfolk Constabulary worth over £10 million, a new £10 million building for Lowestoft College and training facilities for Norwich City Community Sports Foundation. It has recruited junior technologists through to staff with full charterships with RICS, RIBA and ICE (engineering). Managing director Mark Nolan said: “We’re investing in our people as Chaplin Farrant continues to be recognised for the architectural excellence and pragmatic cost effective advice we provide. We are planning for growth as our strong reputation and customer base has put us in a positive position for the future.” Gitte Kjeldsen Highland and Martin Lewis have been promoted to the board and Wai Man Cheung and Jerene Irwin to associate directors. Jerene Irwin has also become president of the Norfolk Association of Architects - the first woman to hold the post for 40 years.
Photo (l to r): Martin Lewis, Jerene Irwin, Gitte Kjeldsen Highland, Mark Nolan, Wai Man Cheung and Mark Camidge.
International delegation visits Cambridge college
A group of 18 delegates from the US, Canada and Italy stopped off in Cambridge recently to look around St John’s College, before seeing the city’s other famous landmarks. They were on a study tour of the UK, organised by the College and University Business Officers and University Hospitality Seminars, which included dinner at the House of Commons, a visit to the London School of Economics, a trip to The Globe and culminating in a three-day stay in Kent for the CUBO Conference. Bill Brogan, catering and conference manager at St John’s College said: “We were delighted to welcome this international delegation on its tour of the UK. They were interested to learn more about all the conference and catering initiatives here including our sustainability activities, ongoing programme of staff training and the many awards we have won.” The delegation was mainly from universities in the US, Canada, and Italy with others from Royal Holloway, University of Leicester, Plymouth University and University of Edinburgh. The group was led by the managing director of University Hospitality Seminars, David McKown from Sheffield University. He said: “The international delegates had a great experience and it was a fascinating insight into the world-class catering and conference services at St Johns College Cambridge."
Photo: Bill Brogan, catering and conference Manager at St John’s College (centre) with the international delegation during its recent visit.
Expansion at Ipswich software firm
To meet its rapidly expanding secretarial software business, Ipswich-based Inform Direct has increased its staff numbers by 25 per cent with three new appointments. Peter Platt and Sapna Thomas as test managers, responsible for testing changes and improvements to the company’s software platform and liaising with the developers. Both bring wide technical experience to Inform Direct: Peter has worked at BrightGen and Smart421 and Sapna at BT and Itron. Jonathan Atkins joins as customer support manager, strengthening the company’s customer service team. His previous roles have included teaching in Seoul, South Korea and working in the Alumni Department at Warwick University Business School. Henry Catchpole, CEO said: “It is important that we continue to invest in the functionality of our product and back this up with responsive customer support. Feedback from our existing customers tells us that they appreciate our commitment to user-friendly software and the support from our friendly team at the end of the telephone.”
Photo (l to r): Peter Platt, Sapna Thomas and Jonathan Atkins.