Warmer climate for region’s exporters helps boost business activity

Stronger exports helped to push up private business activity in the East of England at the fastest rate in two years in April whilst firms remained upbeat on prospects for the next 12 months, according to a key survey or purchasing managers. A NatWest East of England 'export climate index' rose for the third month running, showing the strongest improvement in export demand for firms in the region for 12 months. All five of the region’s top export markets – the Netherlands, US, Germany, France and Ireland – saw higher output. Meanwhile the overall NatWest East of England PMI business activity index rose to 53.2, up from 51.3 in March, as inflows of new business and employment were stable. However the survey also pointed to a jump in input cost inflation, prompting another strong rise in prices charged by firms for goods and services. Confidence was linked to new products, strong new business pipelines and a market recovery despite the coming election. A 'future activity index' remained well above its long-run trend level and the East remained the third most optimistic UK region. Rashel Chowdhury, NatWest Midlands and East regional board, said: "The stronger increase in activity in April was welcome news, but the jump in input price inflation is a concern and may partly explain the softening of the 12-month outlook and lack of jobs growth. That said, the bigger than usual increase in the National Living Wage may be partly responsible for the spike in costs in April, so we may see a correction in May. And despite easing to a three-month low, output expectations remain relatively strong."

Separately, a sharp hike in the number of start-up businesses in East Anglia – the highest of any UK region outside London - and the end of recession, should give the local economy a much-needed boost heading into the summer months, but business owners should remain cautious, says the Eastern branch of R3. Its figures show 10,405 businesses were set up in East Anglia in April, a rise of 27 per cent on the previous month and 47 per cent higher than a year ago.

Region urged to create ‘green transport hub’ to attract new investment

Transport decarbonisation can boost the competitive position of the Freeport East low tax zone, based around the ports of Felixstowe and Harwich and attract new investment in green technologies and resources, says a new report. The report from The Association for Renewable Energy and Clean Technology says the region can leverage its existing position as a UK transport hub to become a major UK and international ‘green transport hub’. It says Freeport East is already well-placed to pursue a green transport hub strategy through the government’s energy plans which aim to foster growth in areas such as offshore wind and hydrogen and cut surface vehicle emissions as well as adopt green fuels for shipping and aircraft. But a big investment in the area’s grid network and renewable power supplies will be needed. Steve Beel, chief executive Freeport East, said: "Decarbonising transport brings significant opportunities for inward investment; offering new jobs and skills as well as reducing the volatility and cost of our transport fuels. Freeport East, with significant transport flows across rail, road and sea, is a natural hub for the economies of scale required to support decarbonisation."

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Boost to law firm’s services through group acqusisition

Essex and Suffolk-based law firm Fisher Jones Greenwood (FJG) is set to boost its market presence following a significant strategic acquisition by its parent group, Lawfront. It has acquired Slater Heelis, an £18m-revenue law firm in the north-west, joining FJG in East Anglia, Nelsons in the East Midlands, and Farleys, also in the north west. Slater Heelis is a leading full-service law firm based in Manchester and Sale, with a track record of over 250 years in areas such as crime (including business crime & regulatory), court of protection and insolvency. “Joining forces with Slater Heelis under the Lawfront umbrella enriches our capabilities significantly,” said Paula Fowler (photo, right), chief executive officer at FJG. “This partnership not only broadens the scope of our services but also fortifies our existing departments, ensuring that we continue to provide the highest quality legal support to the communities of Essex, Suffolk, and beyond.” The integration of Slater Heelis into the Lawfront group means FJG clients will now have access to a wider array of legal specialists and services.

See Profile FJG

New office senior partner appointed in Cambridge

Deloitte has appointed Julian Rae, an audit and assurance partner at the firm, as its new office senior partner for Cambridge following Paul Schofield’s decision to step down after ten years at the helm. He will work alongside regional practice senior partner, Fran Cousins, to oversee the launch of Deloitte’s life sciences catalyst business lounge, as well as driving the market strategy behind the new venture. Julian Rae joined the firm as a graduate in 1998 and has had three stints in the Cambridge practice over the past 26 years, leading on some of the firm’s largest and most complex audits in the region and specialising in technology, high-tech manufacturing, and capital markets. He said: “Cambridge is one of the most progressive regional economies in the UK and its future is as bright as its rich history.”

Photo (l-r): Fran Cousins, Deloitte practice senior partner with Paul Schofield (centre) and Julian Rae, new Cambridge office senior partner.

Record summer in prospect for Norfolk-based producer

Norfolk-based Structure-flex, the country's largest producer of lorry tension curtains, says it is poised for a record summer of demand as operators seek to expand and refresh their HGV fleets. Since the pandemic, the Cromer-based firm has seen growing demand for the side curtains it produces new and existing heavy goods vehicles.“Demand is high and looks set to continue to rise as operators continue to invest in their fleets. Our team are working more productively than ever to satisfy orders, helped by our investment in technology” said managing director Paul Reeve. In the last 18 months, Structure-flex has invested in technology, including grand format digital printers and extra-long high-frequency welding equipment which enables it to produce curtains up to 16m long more easily. It has also benefitted from the exit of various competitors from the sector.

Fishing retailer nets higher profits despite weather

Anglian Direct, the Norwich-based quoted fishing tackle and equipment retailer, has reported results showing a 10 per cent rise in turnover to £81.7 million for the year to end-January and a sharp rise in pre-tax profits to £1.5 million, up from £0.7 million previously. Retail store sales rose to £44.4 million, up by 7.6 per cent and UK online sales were up by 11 per cent to £32.9 million; significantly higher than pre-Covid levels. The group opened new stores in Cardiff and Goole, taking its UK network to 47 sites and its first European site in Utrecht. CEO Steve Crowe said: "The board remains optimistic about the long-term growth prospects of the group, and despite the challenges we have seen in consumer confidence, inflation, and sub-optimal weather, the angling market remains resilient."

Resort shortlisted in two categories at Conference & Events Awards

Wyboston Lakes, the conference, training and leisure venue west of Cambridge, has been recognised as one of the best conference venues in the country and among the most sustainable. It has been shortlisted as a finalist for both best venue (501-1100 seats theatre style) and for the sustainability award for venues at the Conference & Events Awards. Marketing director and sustainability lead Louisa Watson said: “It is so exciting to be recognised as a finalist for two such prestigious awards and it is wonderful testimony to the superb quality of our facilities and to the continuing commitment of all our team to our mantra of ‘More Sustainable, No Apology.’ The resort’s Woodlands Event Centre was transformed in 2019 to meet the needs of delegates and event organisers. With a variety of rooms fully equipped with the latest technology, it is busy with conferences and events for many sectors including financial services, pharmaceutical and associations. The results of the awards will be announced at a ceremony in London in July.