The huge scale of government lending in the region during the pandemic has been highlighted by figures showing over 145,000 businesses across the East have received a total of almost £6bn in funding under the two largest Covid-19 loan schemes.
Figures from the state-owned British Business Bank showed that nearly 138,000 loans worth nearly £4.2bn have been offered across the East under the bounce bank loan scheme; a six-year term loan from £2 -50,000. Meanwhile, over 7,400 loans worth nearly £1.8bn have been offered in the region under the coronavirus business interruption loan schem...
Read more...Farmland prices rose by an average of 3 per cent in 2020 with a record low supply combining with robust demand buoyed up by lifestyle buyers helping to support values, according to agent Strutt & Parker.
The average price of arable land was £9,300/acre – the same as the average over the past five years – and with the average price of pasture at £7,200/acre. Matthew Sudlow, head of the firm’s estates and farm agency, said: “In the second half of 2020 we saw strong interest in residential farms and estates, particularly in the south and west of England, from buyers seeking a cha...
Read more...Finance leaders expect levels of home-working to rise five-fold by 2025 compared to pre-pandemic levels and are forecasting higher levels of taxation and regulation in the longer term, according to Deloitte’s latest chief financial officers survey. An overwhelming balance (98%) of CFOs expect flexible and home working to increase.
Paul Schofield (photo, right), Deloitte practice senior partner for the South East based in Cambridge said: “The pandemic has triggered fundamental and lasting changes in business, with CFOs expecting rising levels of home-working, greater diversification ...
Read more...Private firms' expectations for business activity in the East of England in 2021 improved further in December whilst the job-shedding seen over the previous nine months came to an end, according to a key survey of purchasing managers .
The NatWest East of England future outlook index climbed for the second straight month – up from 69.3 in November to 71.5 – and the highest since August. Vaccine rollouts, business expansions and new product launches fuelled the optimism. Meanwhile, private firms in the East increased staffing in December. Although slight, the increase was in contrast to ...
Read more...Just over half of East of England SMEs (53 per cent) say that becoming more environmentally sustainable is important and a similar share have worked on green measures during Covid, according to a Lloyds Bank Commercial Banking business barometer. It suggests a quarter of firms have used using cash reserves and government grants (15 per cent) to fund green improvements. But the survey also shows that long-term cost savings and pressure from customers are the main drivers for sustainable activity by SMEs.
Dave Atkinson, regional director for the East of England at Lloyds Bank Comme...
Read more...As we enter a new national lockdown, the Chancellor has announced some £4.6 billion of additional support and new lockdown grants will be available for retail, hospitali...
A Birmingham-based developer, Prosperity Homes, has unveiled plans to develop a 300-home scheme at Downham Market in west Norfolk on land acquired from a private firm,...
A Norwich-based start up company, Glyconics, has won an £85,000 government grant for a feasibility study on low-cost diabetic screening in developing countries . ...
The East of England economy will see output fall slightly more than the UK average this year but it will stage a faster than average recovery in 2021, according to a ne...
A series of recent mergers and aquisitions involving medium sized tech and distribution companies across the East of England suggests confidence is returning to the reg...
An engineering partnership led by Lotus, based at Hethel near Norwich, has won government support and funding to develop so-called 'next-generation' battery electric v...
Universal Web Design, a digital marketing firm, is setting up a new office at OrbisEnergy in Lowestoft where it will create 30 new jobs working for the offshore rene...
Meet Cambridge has unveiled a support strategy to help venues re-launch their facilities following closure. The venue finding service is helping its members by providing a...