Exports on the rise as businesses in the East seize global opportunities
The East of England is emerging as one of the country’s most successful export hubs and many firms in the region have high hopes for further international growth, according to new research. A study of more than 3,000 UK firms produced by Alibaba Group UK with the Institute of Export and International Trade found that 91 per cent of goods-producing businesses across the East of England are currently exporting, well above the UK national average of 79 per cent. The survey – which looked at firms with revenues above £1 million – showed that over three quarters expect their export sales to increase in the next 12 months. Nearly three in ten anticipated a “significant increase” in sales. Whilst nearly two fifths see the EU as the largest export opportunity, the biggest scope for future growth are seen in North America (30 per cent) and South/Central America (25 per cent). Exporters also believe that selling overseas has made their businesses more resilient and has fuelled innovation, including digital change. Most exporters in the region are using online marketplaces to boost international sales. Roland Palmer, general manager of UK, Nordics & The Netherlands at Alibaba Group, said: “Our research suggests that companies in the East of England are seizing the enormous global export opportunities which exist across the world. By trading overseas, even small businesses can expand, creating more job opportunities and economic growth. Once a business starts to export, they realise the benefits outweigh the perceived barriers and they grow in confidence.”
Firms plan recruitment drive as outlook turns sunny for businesses this summer
Businesses in the region are planning to launch recruitment drives after confidence in the East of England jumped in April by the joint-largest rate of any UK region. According to a business barometer from Lloyd’s Bank, a net balance of 24 per cent of businesses in the region expect to increase staff levels over the next year, up 16 points on the previous month. It comes after a rise in business confidence of 18 points during April to 35 per cent, as firms turned significantly more confident on their own business prospects and on optimism in the economy. Key targets for growth at businesses in the next six months are diversifying into new markets, evolving offers and investing in teams. Dene Jones, regional director for East of England at Lloyds Bank Commercial Banking, said: “Businesses in the region are feeling optimistic, and anecdotally we’re hearing that many expect trading conditions to continue to improve over the summer. Growth in firms’ hiring intentions suggests that expansion is front of mind. Two things will fuel this growth; confidence and capital. The first is clearly in place, so now it’s a case of identifying the best ways of funding that growth.” Nationally, business confidence in the service sector rose to the highest for a year with sentiment upbeat in hospitality and financial services. Construction remained strong while manufacturing and retail are above last year’s lowest levels.
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Tourism firms set for busier times although profits remain under pressure
The tourism sector in the East of England will perform well this year despite the cost of living crisis although profits in the sector remain under pressure. A survey of 140 firms in the region highlighted in the Tourism Business Survey 2023 from accountancy firm Larking Gowen showed that some 41 per cent said turnover would be ‘more or substantially more’ than in 2022, with 35 per cent predicting it would remain the same. But only 27 per cent said profits would increase in 2023 and 45 per cent expected that they would fall. Most businesses were involved with a destination management organisation or tourism group but most also felt that central and local government was not providing enough support. Chris Scargill, tourism, leisure and hospitality partner at Larking Gowen, said: “Destination management organisations and the bodies that support them have helped many businesses during this tough period. I would call on these organisations to be given the support of our tourism businesses and local authorities in return, for the benefit of all.”
Adnams chief executive Andy Wood called on local authorities in Suffolk and Norfolk to get behind a government initiative to boost tourism in the region and be part of a local visitor economic partnership, with the potential to help attract central government funding and other support into the region. He said: “Pre-pandemic figures for the tourism, leisure and hospitality industry in Norfolk and Suffolk showed it to be worth around £5.6bn and employing more than 10,000 people. It is one of the things that keeps the economy moving in the region. We’ve got it all in terms of places to visit, attractions, festivals, world class exhibitions, food and drink,”
Photo – panellists at the tourism business seminar (l-r): Chris Scargill, Larking Gowen, Mary Sparrow, Hippersons Boatyard, Andy Wood, Adnams and Claudia Roberts, ZSEA.
Region’s firms feature in top 100 fastest-growing companies index
Thirteen companies from the East of England feature in Growth Index 2023, an annual ranking of the 100 fastest-growing companies in the UK. Microdot, a Cambridge-based manufacturer of blood glucose monitors emerges as the fastest growing company in the region at eighth place with a compound annual growth rate of 204 per cent. The other 12 companies from the East to feature in the index are: Purple Surgical (surgical instruments, Shenley – 10th), DG International Group (Essex-based logistics service provider – 20th), Fairfax and Favor, (Norfolk, country lifestyle brand – 34th), Cambridge Design Partnership (product & technology consultancy – 51st), Thermoteknix (thermal imaging cameras – 66th), Richardson Healthcare (70th), Huel (nutritional meal products – 74th), SBZ Corporation (fuel and lubricant additives -76th), Maze (outdoor furniture retailer – 89th), Maritime Cargo Processing (90th), Lintbells (pet healthcare and supplements – 91st) Astute Healthcare (92nd).
Housebuilder wins national award for sixth time
Bennett Homes, based at Nowton near Bury St Edmunds, has won the Roger Humber UK Large House Builder of the Year category in the Construction Awards of Excellence, organised by the National Federation of Builders. It is the sixth time the family-run company has won the award, which is for housebuilders delivering more than 51 homes per year and which was presented at a ceremony in London. The company’s entry included: sustainability, commitment to energy-efficiency, use of technology, customer service and innovative ways to respond to a rapidly changing market. Edward Parker, managing director of Bennett Homes, said: “The last few years have been very challenging for everyone in the industry and I am indebted to all our staff who have worked so hard to deliver the high quality homes for which we have become well-known, backed by excellent customer service. Receiving national industry recognition of these achievements is a great honour.”
Photo (l-r) Keith Aldis, CEO Brick Development Association and category sponsor; Edward Parker, managing director, Bennett Homes; Adam Bell, development director, Bennett Homes; and Cathy Newman, awards host and presenter of Channel 4 News.
Port operator and businesses mark 25 years at Port of Ipswich
Picture: Stephen Waller
www.stephenwaller.com
Associated British Ports and Clarksons Port Services have marked 25 years of the port operator’s ownership of the Port of Ipswich and Clarkson’s tenure at its Sentinel Terminal with a recent joint event at the Imperial War Museum, Duxford. Guests included representatives from ABP and Clarksons, as well as other businesses that operate from the Port of Ipswich including Southern Cement, Slicker, Brett, Tarmac, East Coast Marine Aggregates, Qube containers and Spirit Yachts. Over £1000 was raised on the night for St Elizabeth Hospice in a charity raffle. Andrew Harston, director, Wales & Short Sea Ports, ABP, said: “Since 25 March 1997, when the port was sold to ABP, the Port of Ipswich has celebrated many milestones, including becoming the UK’s number one grain export port, which demonstrates how ABP has lived up to the primary ambition of enhancing port operations.” Other milestones have included ABP investing £49.6m in the port since 2012 and handling 68.4 million tonnes of cargo between 1997 and 2022, investing in new lock gates to the Wet Dock, and enabling the re-development of the two marinas and the Ipswich Waterfront and the construction of 607,111sq ft of new shed space, including the Sentinel Terminal.
Photo (l-r): Julian Scott (Clarksons), Andrew Harston (ABP), David Rumsey (Clarksons) and Paul Ager (ABP).
Raft of new private client hires at law firm
Ashtons Legal has expanded its lifetime planning team with a number of significant new hires. In recent months, the firm has appointed one new senior associate, an associate, a tax accountant and three paralegals to its lifetime planning and tax and trusts teams in Bury St Edmunds and Cambridge. Natalie Westgate is a senior associate and has joined partner Alan Brown in Bury St Edmunds. She specialises in the drafting of wills, powers of attorney and estate planning, as well as probate and estate administration and the administration of trusts. Richard Tinkler joined the firm late in 2022 as an associate in Bury and specialises in the drafting of wills, powers of attorney and estate planning, as well as probate and estate administration. Laura Prime is a new tax accountant and has worked in a tax role for ten years at accountancy firms in Bury and Ely. She is joined by Millie Nicholl who has moved from the firm’s court of protection team as a paralegal. Also based in Bury is new junior paralegal Jana Goodchild. In Cambridge, Syeda Mahfuz has joined as a junior paralegal. Alan Brown, head of Ashtons’ individual client group, said: “These appointments further strengthen our lifetime planning team and demonstrate our continued commitment to providing a first class service for individuals and businesses alike.”
Photo (l-r): Natalie Westgate, Millie Nicoll, Richard Tinkler, Jana Goodchild and Laura Prime.
Developer appoints new senior planning manager
Land promoter and property developer Jaynic has appointed chartered town planner Rachael Morey (right) as senior planning manager to support the company in obtaining planning permissions for its growing commercial and residential land bank in East Anglia and other UK locations. Previously, she was planning manager at Barratt David Wilson and Bloor Homes and prior to this a planning consultant at Savills. She will working alongside Andrew Anderson and Paul Sutton in the land promotion team and will advise on planning matters for residential and commercial sites. Jaynic director Andrew Anderson, said: “We welcome Rachael, with all the experience she has gained on both the developer and consultancy side, who arrives at a very busy period ahead of us where we currently have six sites where we are promoting through the planning system opportunities that could provide 2.9 million sq ft of commercial space and 2,500 housing units.”
