Region’s private sector rebounds after Brexit
Private businesses in the East of England saw a post-Brexit rebound in new orders in August , with growing output and the fastest rate of new job creation of all English regions, according to a key survey of purchasing managers. Growth picked up across manufacturers and services firms, as the Lloyds Bank East of England PMI registered 53.6 in August, up from 51.0 in July. Any reading above 50 denotes growth. The survey said a spike in new work outstripped the UK average. But weaker sterling led to higher import prices and total input costs, including wages and materials, rose at the fastest rate in five years. Steve Elsom, regional director for the East of England at Lloyds Bank Commercial Banking, said: “Having lost momentum in July in the wake of the EU referendum, an economic upturn in the East of England gathered pace in August." Read more...
…whilst employers still on lookout for skills
The outlook for new jobs in the region remains positive as skills shortages persist with growing numbers of new posts in the industrial, finance and insurance sectors, according to Manpower. Its latest quarterly employment outlook survey for the region records an 'employment outlook' of +7 per cent against a national average of +5 per cent. Krissie Davies, operations director at Manpower, said: “We’ve seen a real uptick in new positions across the region, particularly in the industrial, insurance and finance sectors. We expect this to continue into the new year – a number of manufacturing and finance companies will be moving to the area in January, bringing at least 200-250 new contact centre jobs.”...Read more
Briefly
Legal firms tap into growing sectors of the region’s economy
While a number of full-service law firms in East Anglia have been able to tap into the growth in key sectors, others are increasingly honing in on specialist areas, according to the latest edition of the Legal 500 guide to the sector. Key factors which have influenced the legal sector in the region over the coming year include the region’s strong agricultural market driven by the rising price of farmland and the large number of owner-managed businesses, as well as the tech cluster around Cambridge. The region’s large high-net-worth population has also buoyed up the legal market. Please see the September/October issue of Business in East Anglia for fuller background on the Legal 500.
Designer hotel opens in Ipswich
The 4-star pentahotel Ipswich on Ranelagh opened this week with a VIP party after a £2 million refurbishment by the German-managed hotel brand. The 126 designer rooms are aimed at both business and leisure travellers. Guests check in at a combined reception-bar in an open-plan 'pentalounge' which is also open to the public as a meeting place. A free pinball machine, billiard table and Playstation video game console as well as WiFi are available. Alastair Thomann, global managing director of pentahotels, said: “In the last two years, we have invested £10 million into opening and refurbishing pentahotels around the UK. Our UK hotels will be the first from our global portfolio to have newly refurbished rooms throughout. We chose Ipswich as a location since it has buoyant business, tech and innovation communities and we see it as an up and coming town with strong international links.”
Colchester store re-opens after £35 million revamp
Department store Fenwick Colchester, previousky Williams & Griffin, re-opened this week following a £35 million redevelopment which took two and a half years. The store has been increased in size by over 50 per cent and 70 new brands are being introduced. Some 75 per cent of the shopping space will be taken by fashion, beauty and accessories brands, including a new beauty hall of over 10,000 sq ft.
Leap in demand at innovative Suffolk company
Portable Space, which has been named as an innovative Future50 company for 2016, has reported a 31 per cent increase in turnover and is creating four new jobs. The firm provides secure storage or additional accommodation to sectors including education, construction, renewables, self-storage and the domestic market. Based in Bacton, Suffolk, the business has grown steaily since 2002 but has seen a leap in demand for its products in the year to June and has increased its headcount to 28. Managing director Mark Black said: “Whilst growth is right across the business, several areas and sectors have proved particularly strong. These include our container conversions for the renewables sector which are carried out by our in-house team and a range of units for offices, meetings and welfare for the construction industry where housebuilding has seen increased activity. www.portablespace.co.uk
Photo ( l to r): Mark Dolman, Commercial Manager; Danny Napier, Container Conversions & Modular Buildings Project Manager; Dave Stephenson, Cabin & Container Sales Manager; and Mark Black, Managing Director
Fast-growing firm relocates
Fast-growing LEDA Orthopaedics, which was started three years ago to supply orthopaedic surgical implants and instruments and now has sales of over £7 million, has moved its hq to The Knowledge Centre at Wyboston Lakes, near the Cambs/Beds border. Director Jonathan Bloy said: “We have been amazed how quickly the company has grown, so we needed to move our base to somewhere that will allow us to continue our growth. We now supply hospitals throughout the UK and Ireland so it was important that we had easy access to major routes.” The firm employs 12.
Accountancy firm shortlisted for award
Ensors Chartered Accountants has been shortlisted for the ‘mid-tier firm’ award at the British Accountancy Awards 2016 for the second year running. The firm had to demonstrate how it added significant value to its clients and enabled them to achieve their business goals. David Scrivener, managing partner, said: “We have had a very busy and successful year which has been down to the dedication and hard work of our team. We are looking forward to the awards ceremony and celebrating the achievements on the night with all those in the industry.” The ceremony is on 29 November in London.
Construction law seminar
Birketts is holding in a series of free seminars Construction law: Boom or bust - payment and insolvency looking at payment notices, the current state of the law, what and what not to do and insolvency - how to limit your exposure. The seminars will be in Cambridge, 4 October; Chelmsford, 11 October; Norwich, 19 October and Ipswich, 20 October. 8.30am -9.30am.To register visit www.birketts.co.uk/events
Training session at Ipswich manufacturing site
Ransomes Sports FC U9’s, held a training session at Ransomes Jacobsen’s manufacturing facility on Ransomes Europark in Ipswich recently. Sponsoring the team’s kit for the 2016/17 season, Ransomes Jacobsen invited the boys’ team to train on the RJ National football pitch, next to the company's own on-site 3-hole golf course. The team currently has 11 players signed for the upcoming season, and will compete in the 7-a-side Ipswich & Suffolk Youth Football League. Manager Nick Joy said: "The boys had a great time training on the pitch at the manufacturing facility. You wouldn’t expect a golf course and a football pitch in the middle of an industrial estate, but I was extremely impressed with the quality of the facility.
Ransomes Jacobsen’s marketing & communications manager international Karen Proctor said: “We are lucky to be able to have such great facilities on-site and, of course, the equipment to maintain them. It was our pleasure to host the boys’ training session, and we wish them every success for the new season!”