Firms freeze recruitment and shed jobs in face of rising costs
Businesses in the region are freezing recruitment and jobs are being shed at the fastest rate in four years as looming cost increases linked to higher national insurance contributions take their toll. The NatWest East of England growth tracker business activity index stood at 48.9 in December, compared to 48.7 in the previous month signalling a second monthly fall in output, albeit at a slower rate. Previously, output had risen for 11 months running. The volume of incoming new business fell at the fastest rate since June. Sentiment on growth in the year ahead also weakened but remained positive. Meanwhile, cost pressures have mounted to a five month higher linked to rising wages, shipping and IT services. Some firms have already passed on higher payroll costs stemming from the Autumn Budget. Lisa Phillips, regional managing director, Midlands and East, commercial mid markets, said: “Private sector businesses in the East of England faced increasingly challenging business conditions at the end of 2024. The latest data indicate that confidence has weakened as a result of the Autumn Budget, particularly concerning upcoming changes to employer National Insurance contributions. This has led to recruitment freezes as businesses assess the impact on their investment plans, resulting in the biggest net drop in employment in the region for over four years…”
New business start-ups fall for second month running
A second monthly fall in the number of new businesses being set up in East Anglia suggests hightening economic risk is stifling local entrepreneurs, says the Eastern branch of insolvency and restructuring trade body R3. There were 5,524 businesses set up in East Anglia in December, down by almost one third on the 7,905 new businesses registered in October. The December figure is also 15 per cent down on the month a year earlier. Meanwhile, the number of East Anglian companies with late payments on their books remained high at 63,696 but the volume of debt owed by firms in liquidation across the region fell. R3 Eastern chair Hayley Watson (right), a director at McTear Williams & Wood in the region, said: “It’s understandable why local entrepreneurs have taken such a cautious approach over the last couple of months…..There are projections, however, that the UK economy will rebound in 2025. …I can see that there is both strength and resilience in our local economy and, armed with the right professional support, companies should be well-placed to combat challenges in the year ahead.”
Law firm appoints new partner to lifetime planning team
Ashtons Legal has appointed Richard Guy as a new partner in the firm’s lifetime planning team. He will be based in the firm’s Bury St Edmunds office and will work with clients across Suffolk, working with clients to help with plans for their and their families’ futures including guiding the transfer of wealth. He has worked in the area for many years and will work with the firm’s team to utilise technology and develop new ways of working to meet changing client requirements. The appointment is part of Ashtons’ growth which saw the firm expand to over 420 people across East Anglia last year. The firm has plans to grow further and with additional recruitment into its lifetime planning team in 2025 to meet demand. CEO James Tarling said: “…Richard is joining one of our largest teams and one of the strongest in Suffolk and East Anglia with over 40 people in our lifetime planning team who are dedicated to helping individuals prepare and plan for their futures….”
Photo: Richard Guy and CEO James Tarling.
Vehicle body repair company expands with second site in Norwich
Norwich-based vehicle body repair company New Image Body Repair, is opening its second location in the city on Hall Road. The expansion will enable the company to cater to commercial vehicles, including Luton vans, high top vans, campervans, and motorhomes. Founded thirty years ago, New Image has built a reputation for delivering high-quality vehicle body repairs and carries out work for main dealerships such as JLR, Audi, Mercedes, Skoda and Duff Morgan. The firm, which has a team of nine repair professionals, will continue to serve customers from its original site in Garden Street. General manager Rob Gainsborough: “This new facility allows us to better serve the commercial vehicle community in Norwich, providing specialised major body repairs and detailing for vans, taxis, campervans, and motorhomes. “
Photo caption: General manager Rob Gainsborough and Ollie Gowing, head paint technician.
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Property agent ranked ‘most active’ in the East
Eddisons has been rated as the most active property agent operating in the East of England and its agents named amongst the region’s top dealmakers in rankings by EG Radius, a sector platform. The firm completed 277 deals involving almost 1,195,000 sq ft of commercial space in 2024. It was the most active agent in Cambridgeshire with 228 deals. Matthew Hunt of the firm’s Huntingdon office ranked as the most active agent in the region and Peterborough-based Julian Welch as the top agent in Cambs for number of deals. The firm also took the number two agency slot in England, completing 707 property deals over 3 million sq ft of space.
Prominent Ipswich town centre building sold
A freehold investment sale of a prominent building in Ipswich town centre – Queens House in Queen Street – has been arranged by Penn Commercial for a long-standing client. The Class E premises, sold to Sandpit Systems, comprises a mixed office, retail and residential development, with existing commercial tenants Hillfort Law Firm, The Co-operative Bank, Central Canteen and St Elizabeth Hospice’s Zest store. Penn Commercial has also been appointed as the managing agent for the multi-storey building.
New air service to take off from Southend to Newquay
London Southend Airport is to launch new daily flights to Newquay from April. Eastern Airways will operate daily flights to Cornwall’s main commercial airport with fares starting from £59.99. The route will become the twentieth holiday destination served from Southend. Amy Smith, head of commercial, Cornwall Airport Newquay said: “The new service from Eastern Airways will provide a convenient and efficient way to travel between the east and west of our country and further supplements our London connectivity, meeting the increased leisure demand in the summer months.”
Photo: London Southend business development director Nigel Mayes and CEO Jude Winstanley.
Senior associate joins law firm’s employment team
Law firm Thompson Smith and Puxon (TSP) has appointed Marie Allen as a senior associate in the firm’s employment team. She will be based in TSP’s Colchester office where she will join director Jolyon Berry and solicitor Grace Smyth. Having qualified in September 2003, Marie Allen (right) brings over 20 years of experience and expertise in employment law to her role. She advises employers and individuals on a mix of contentious and non-contentious matters, frequently acting for corporate clients, public sector bodies and senior executives. Jolyon Berry said: “Marie and I have worked with (and against) each other for many years while we practised at different law firms. I have always respected her as a lawyer and look forward to working with her as a colleague who I am certain will provide valuable support to our impressive and growing team of employment lawyers.”
See Profile Thompson Smith and Puxon
Private client partner appointed to meet rising demand
Law firm Fisher Jones Greenwood has appointed experienced private client solicitor Karina Jowitt as a partner in its wills, life planning, and probate team at its Colchester office. She said: “Joining Fisher Jones Greenwood will allow me to deepen my expertise and further develop my career within a dynamic and forward-thinking environment.” Karina Jowitt (right) launched her legal career at Gotelee Solicitors in Ipswich, joining as a trainee solicitor in 2012 and qualifying in 2014.
See Profile Fisher Jones Greenwood
New role created at Cambridge company to support customers with changing regulations
Cambridge company Domino has appointed James Cutforth (right) as head of global regulated sectors to support customers – particularly in the pharmaceutical and tobacco sectors – to prepare for the need to use 2D codes to increase transparency and traceability and combat the risk of counterfeit products. He said: “Domino has been at the forefront of global regulatory developments using serialised 2D codes. As a result we understand that speed and reliability are critical for our manufacturing customers and adopting 2D codes can come as a significant challenge.”
ESG initiative launched at resort
Wyboston Lakes Resort, west of Cambridge, has launched Room2Give, a new ESG initiative to reduce consumption and support local community organisations. Guests staying at the venue’s Woodlands Event Centre or Willows Training Centre for more than one night will be able to choose which of three local charities to support by opting out of room cleaning and making donation to the Room2Give fund. Guests choose which charity to support – The Pavement Project for the homeless in Bedford, Samuel Pepys School, St Neots, an SEN school or Woodgreen Pets Charity, Godmanchester – using a door hanger. Louisa Watson, marketing director & sustainability lead at Wyboston Lakes Resort, said: “In developing Room2Give, we wanted to deepen our commitment to ESG responsibility while making a meaningful difference in our local communities.” The new scheme is set to build on the success of the venue’s Room2Grow initiative. Whenever a guest staying more than one night opted not to have their room cleaned, the resort committed to planting a tree in its 380 acres of grounds. After 30 months, the resort team is in the process of planting more than 60,000 trees. See Profile Wyboston Lakes Resort
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