Business in East Anglia

Cambridge leads ‘resurgence of UK economy' as growth spreads beyond knowledge sectors

Job creation in Greater Cambridge has outpaced the national economy with an 8.5 per cent growth in employment during 2022-23, according to the Centre for Business Research at the University of Cambridge.

The robust performance is thanks to flourishing knowledge intensive (KI) sectors, including life sciences, IT and high-tech manufacturing - which saw 11 per cent employment growth in 2022-23 - which has now extended to other sectors. The life sciences and healthcare sector led the way with a 13 per cent growth, followed closely by the tech sector at 10 per cent. Other sectors such as re...

Positive response from region’s businesses to Autumn Statement

Business groups and companies in the region responded generally positively to the tax changes introduced by the Chancellor in last week’s Autumn Statement.

Tough decisions

Richard Tunnicliffe, CBI East of England director, said: “With tough decisions to be made, the Chancellor was right to prioritise ‘game-changing’ interventions that will fire the economy. “While the move on National Insurance will give hard-pressed households some much needed breathing room, making full capital expensing a permanent feature of the tax system can be transformational for accelerating growth and i...

Decomissioning North Sea energy rigs set to be worth ‘more than £20 billion’

Shutting down obsolete North Sea energy installations – a key source of work for the offshore support companies around Gt.Yarmouth and Lowestoft - will be worth more than £20 billion over the next decade, according to Offshore Energies UK.

The trade body's Decommissioning Insight 2023 report  gives an overview of requirements for decommissioning and recycling of hundreds of oil and gas platforms in UK, Norwegian, Danish and Dutch waters. There are currently 283 active oil and gas fields in the North Sea. By 2030, 180 will have ceased production. Decommissioning accounted for 12 per ce...

Growth in start-ups set to boost region’s economy in run-up to Christmas

A sharp rise in company start-ups in East Anglia is providing a potential boost to the region’s economy in the key pre-Christmas trading period.

According to the Eastern branch of R3, start-ups businesses in East Anglia rose to 8,655 in October, the highest number in any UK region outside London and up 11 per cent on September and 17 per cent higher than in the month a year ago.

R3 Eastern chair Hayley Watson, associate director at McTear Williams & Wood, said: “It is encouraging to see positive statistics for our region, particularly as trading conditions are so challenging at the m...

Employers adapt training methods to help motivate new Gen Z workers

Many employers are finding it difficult to motivate their Gen Z workforce – aged 16-25 - and are adapting their training methods to better-meet the needs of younger staff, according to research from Grant Thornton.

A survey of 605 mid-sized business found that over a third of firms said it was more difficult to motivate current Gen Z employees compared to previous generations. Most were adapting their training methods for recruits with more personalised training, ‘on demand content’ and gamification to appeal to new younger staff. The research, which looked at responses from 2,00...