Business in East Anglia

Surge in R&D tax relief claims in the region bodes well for investment

Figures pointing to an encouraging rise in research and development in the region have emerged in statistics showing a 22 per cent rise in claims for R&D tax credits in the East of England over 2017/18. HMRC statistics show firms in the region submitted 4,710 claims for tax credits, up from 3,870 previously.

Meanwhile, the level of support rose by 41 per cent. The improvement was in line the national trend; across the UK, the amount of R&D support claimed rose to £4.3bn, a rise of £1bn from the previous year. First introduced in 2000, R&D tax credits act to encourage greater R&D spendi...

Construction firms warned to plan for potential shocks from no deal Brexit

The region’s construction sector has been urged to have robust plans in place after a warning about the impact a no deal Brexit could have on its workforce. At a construction and development briefing hosted by Ellisons Solicitors, immigration partner Sohan Sidhu warned of potential shocks in the sector if the new short-term work visa comes into place in 2021. Around 16 per cent of construction workers in the East of England are from outside the UK, the highest of any region outside London. He said: “Immigration law is changing quickly. Things are happening on an almost daily ...

Confidence improves amongst firms with ‘positive mindset’

Companies in the East of England appear to have been largely unfazed by the recent political upheaval with confidence in their own business prospects rising to 17 per cent in September, up from 10 per cent in August, according to a business barometer from Lloyds Bank Commercial Banking. Overall confidence remained stable at 4 per cent in September. However a net balance of 24 per cent of businesses in the region said Brexit was having a negative impact on their expectations for business activity, up 14 points on a month ago. David Atkinson, regional director for the East of England at L...

Boost to region's trade from surge in exports to North America

Strong growth in overseas sales to North America and new markets in Latin America and the Caribbean have given the region's exporters a shot in the arm. Exports from the region to north America grew by 11.7 per cent to £4.8 billion during the year to June.

Meanwhile, the fastest growing export regions for East of England goods were to Latin America and the Caribbean, which rose by 16.5% to £531 million. Since the EU referendum in 2016 , overseas demand for goods has increased in each UK nation compared to the previous three years, helped by the falling pound.

International trade secreta...

Farming business with 100 year history sold to investment group

Strutt & Parker (Farms), one of the region's oldest diversified farming businesses which operates across Suffolk, Essex and Cambs, has been sold to Robigus, a farm and estate investment group. Chairman Peter Tritton said: “Strutt & Parker (Farms) has earned an excellent reputation over its 100 year history as a leading, innovative and diversified agricultural business. This acquisition provides a significant opportunity for Robigus to further enhance and expand on their ambition to be at the forefront of British agriculture. My great grandfather and founding partner Edward Strutt woul...