Business in East Anglia

Bid launched for new freeport at ports of Felixstowe and Harwich

A bid has launched for a new freeport centred on the ports of Felixstowe and Harwich which will offer tax advantages to attract businesses and act as a hub for UK importers and exporters with suppliers and customers worldwide.

The government is inviting bids for seven new freeports to open in 2021 as part of at least ten to open across the UK. As well as tax breaks, freeports provide simplified planning rules and customs procedures.

The promoters of Freeport East aim to take advantage of the good road and rail links to the Midlands and the north of England from the two ports -which are ...

Overseas interest in health and digital investment bodes well for the region

Investor interest in health and wellbeing has increased due to Covid and bodes well for the cluster of life sciences firms in the East of England according to EY’s latest UK Attractiveness Survey. Its survey of overseas investors showed that 41 per cent of respondents deem the ‘quality of the health system’ a more important factor in their investment strategy as a result of Covid, higher than sustainability and climate change. Only the digital sector was seen as a strong driver of growth.

Stuart Wilkinson (photo, right), office managing partner at EY in the East of England, said: â...

Trading with Europe set to be more challenging than many firms admit

Trading with Europe after Brexit, deal or no deal, will be more challenging than many businesses are currently willing to admit, according to Chris Scargill, partner and business advisor at MHA Larking Gowen . He said: “Due to COVID-19 the majority of British companies involved in exporting to Europe have not been able to give Brexit the attention they should, and unfortunately, some are in denial about the scale of the challenge. While there are a number of solutions available to facilitate EU trade, it is not as simple as getting an EU EORI number* to solve all supply chain ...

Fears over economy take toll on business confidence

Businesses in the East of England reported a brighter view of their own prospects in October but overall confidence fell when taken alongside views on the wider  economy and more firms are planning to shed jobs, according to a Lloyds Bank survey. Taken before this week's lockdown was announced, the bank’s business barometer shows firms' confidence in their own prospects rose to 5 per cent, up one point on September.

But overall confidence in the East dipped by three points to -8 per cent  although this was still the second highest of any UK region. Meanwhile, a net balance of 11 per ...

Agricultural products kept moving through ABP’s ports in the region

APB's ports of Ipswich and King’s Lynn have continued to play a key role in keeping agricultural products moving to businesses and farmers in East Anglia. Since the lockdown started on 23rd March, the Port of Ipswich has handled nearly 1.2 million tonnes of cargo and following the discharge of over 13,000 tonnes from MV Sten Bergen in September, its cargo-handling total has reached over 1.6 million tonnes this year. Paul Ager, ABP divisional port manager – East Coast, said: “Over the summer months alone, our Ports of King’s Lynn and Ipswich have welcomed 56 vessels, which have ex...