Business in East Anglia

"Rocky road ahead" for firms after involvencies rise sharply

A dramatic rise in corporate insolvences in September suggests there may be a "rocky road ahead" for many firms now that government support to keep businesses afloat during the pandemic has ended according to the Eastern branch of R3. Insolvency Service figures show that the number of insolvent businesses in England and Wales increased by 7.2 per cent in September to a total of 1,446, up 56 per cent on the month last year and close to the 1,515 seen in January of last year.

R3 Eastern chair Alistair Bacon, of AMB Law in Ipswich, said: “The monthly rise in corporate insolvencies was dri...

Ipswich-based PR and digital marketing agency acquired by fast-growing group

PLMR, a fast-growing communications agency, has acquired East Anglia PR and digital marketing agency Genesis as it strengthens its focus across the East of England and further develops its services. Ipswich-based Genesis employs 21 staff and in October the firm won agency of the year for the third year running in the Chartered Institute of PR awards for Anglia, Thames and Chiltern region along with eight other awards. It works with clients in business and professional services as well as education, training, health, public sector and charities. PLMR has been based in the region ...

New £7.4 million centre to boost productivity opens in Norwich

Productivity East, a new centre for engineering, technology and management focused on boosting productivity and tackling manufacturing challenges has been launched at the University of East Anglia in Norwich. Students, academics and businesses will work together at the new £7.4 million centre to find innovative ways to support the region’s manufacturing and techn sectors with practical solutions and help on innovations. Facilities include a CAD studio, robotics laboratory alongside the latest 3D printers, CNC lathes and milling machines.

Chris Starkie, chief executive of New Anglia L...

Business activity slows as firms struggle with labour shortages

Business activity in the region grew at its slowest rate for seven months in September and the degree of optimism fell but firms have continued to hire new staff despite problems with staff turnover and labour shortages. The NatWest East of England PMI business activity index fell from 54.5 in August to 53.9 in September although growth remained solid and above its long-run average. But optimism fell to a 11-month low amidst concerns over demand easing in coming months and worries about the long term implications of Covied.

Payroll numbers in the East rose for the eighth month running in...

Firms look to private equity to foster growth after the pandemic

Nearly a third of medium sized businesses in East Anglia are currently looking for private equity investment as they seek to grow after the pandemic and most firms think that now is the right time to invest, according to a survey from BDO.

Its Rethinking the Economy survey of 500 mid-sized companies, showed that 30 per cent of companies are actively looking for an investor. The ability to develop new products and services was the biggest driver for firms seeking external investment followed by funding to cover immediate costs and the ability to expand through mergers and acquisitions. Over...