Firms explore salary sacrifice schemes ahead of Budget tax increases
Nearly half of East Anglia’s mid-market businesses are looking at salary sacrifice schemes – which reduce cash pay in return for various non-cash benefits – as a way to soften the impact of the Budget rises in national insurance contributions due in April. BDO’s economic engine survey of 500 mid-market businesses also found that over half of employers (53 per cent) would look to outsource or offshore work. Virtually all firms are planning to take at least one action in response to the coming rise in NICs. Nearly a quarter looking to reduce or scrap planned pay increases or bonuses and a third set to hire more part-time or contract workers. Caroline Harwood, head of employment tax at BDO in East Anglia, said: “The increases to employers’ National Insurance Contributions announced at the Budget and the accompanying drop in the threshold at which NIC applies to employee earnings came as a shock to many East Anglia businesses. Unsurprisingly, the vast majority have been urgently exploring ways to mitigate this imminent jump in their costs. There is no silver bullet, but clearly salary sacrifice schemes for things like pensions, Electric Vehicles or cycle to work schemes – which offer NIC savings to both employers and employees – are top of mind for employers.” Any salary sacrifice schemes must ensure employee’s earnings don’t fall below the national minimum wage.
Business festival set to highlight ‘vibrant entrepreneurial spirit’ in Ipswich
Ipswich Borough Council is to stage a week-long business festival to highlight collaboration, innovation, and entrepreneurship and to showcase the town’s ‘vibrant entrepreneurial spirit’. The Ipswich Thrive: Business Week, between March 10 and 18 will see more than a dozen events including panel discussions and keynote speeches from industry leaders, alongside workshops and training sessions for small businesses and entrepreneurs. Cllr Neil MacDonald, Ipswich Borough Council leader (photo with business people), said: “This week is an unmissable opportunity for local businesses to come together, celebrate success, and shape the future of our vibrant community. Whether you’re a small start-up, an established company, or taking the first steps in developing your own business, we invite everyone to get involved and take advantage of the opportunities this week has to offer.”
Tim Robinson, chief operations officer at Tech East, said: “It’s really positive to bring the business community together to celebrate and showcase what’s going on in and around Ipswich and thinking about what the future may hold. It’s a great opportunity to network, to make new partners and contacts.” www.ipswich.gov.uk/ipswich-thrive-business-week
Region’s political landscape shifts to reflect ‘financial pessimism’
A significant shift in the political landscape across the East of England with Labour set to face major losses at the next general election, while Reform UK takes advantage of financial pessimism, emerges in a MRP poll by communications agency PLMR and Electoral Calculus. The Conservatives are projected to regain lost ground confirming their position as the largest party in the region. More than half of respondents across Suffolk, Essex, Norfolk and Cambs expect their personal finances to worsen this year boosting support for Reform UK, particularly in Essex and Norfolk. Across the four counties, the Conservatives could win 26 seats (up from 18), Labour 5 (down from 16) and Reform UK eight (a rise from three). The Liberal Democrats could win three (down from five) and the Greens one. The Conservatives are expected to make strong gains in Cambs while Labour faces losses in Suffolk and Essex. Tim Miller (photo, right) managing director of PLMR Genesis, the East of England team for the agency, said: “The region appears to be undergoing a significant political transformation. With the Conservatives predicted to regain ground, Labour facing losses and the Reform Party surging in support, the East is shaping up to be another crucial battleground at the next General Election.”
Briefly…
Loan to support expansion of Suffolk logistics park
Octopus Real Estate, a real estate lending and investment firm, has provided senior acquisition finance for the expansion of Port One Business and Logistics Park at Great Blakenham, near Ipswich. The loan to Curzon De Vere supports the acquisition of a 32.8-acre freehold site, with planning permission for logistics and business use. It takes the total amount Octopus has lent on the site to over £50m. James Nunn, investment director, Octopus Real Estate, said: “…. With 10 units already constructed and fully occupied, Port One has established itself as a key player in the logistics market. We look forward to the continued success of this development and the benefits it will bring to our investors and the wider community.”
Ipswich-based fintech lender features in SME business rankings
Ipswich-based fintech lender Fleximize has secured the second-highest rating in the Elite Business 100 rankings, after a year when it made £114.3 million in business loans. It has also recently secured major institutional backing from Goldman Sachs Asset Management and Citi. Peter Tuvey, CEO of Fleximize, said: “…A decade ago, we spotted a crucial gap in SME funding when traditional banks were retreating from the market. This recognition validates our mission to combine innovative technology with personalised service, proving there’s strong demand for a more flexible approach to business lending.” The company has been operating for 11 years and it plans to double its lending capacity every 12-18 months over the next five years.
Companies that overlook apprenticeships ‘miss out’ on highly-motivated individuals
One in four businesses are missing out on a significant talent pool by not offering apprenticeship programmes for young people joining straight from school, according to research from Grant Thornton UK. The survey, published to mark National Apprenticeship Week, shows employers are deterred by the level of work/resource required, that they’re unclear about the benefits school leaver apprentices would bring and the incentives aren’t strong enough. But over three quarters of the businesses surveyed who do already recruit school leaver apprentices also plan to recruit more in the next five years. Charlotte Anderson (photo, right) practice lead for Grant Thornton UK in Cambridge, Milton Keynes, and Chelmsford, said: “University is a great path for many, but apprenticeships allow young people to start working immediately, earn a salary, and gain qualifications – an increasingly popular alternative. For businesses, apprenticeships provide access to ambitious, diverse talent while addressing critical skills gaps. Companies that overlook this route risk missing out on highly motivated individuals who bring fresh ideas and energy to the workplace.”
Separately, BT Group is planning to recruit more than 600 apprentices and graduates for its September 2025 intake, including new roles at its offices at Ipswich. The company is recruiting across areas such as cyber security, software engineering and customer service to support the UK’s fast-growing digital sectors.
Law firm advises on AI investment
Law firm Ellisons has advised SolvedBy.Ai, an artificial intelligence company, on a seed investment round led by Sir Terry Leahy and Bill Currie and its demerger from the WorkTech Group. The investment will enable SolvedBy.Ai to expand its team of machine learning engineers, enhance its decision-making solutions and strengthen initiatives with both existing and prospective customers. Ian Hogg, chair of WorkTech Group, said: “Ellisons has been an invaluable partner throughout this process. Their expert guidance ensured the demerger was seamless and their straightforward, pragmatic approach helped us navigate the complexities of the investment round.” Paul Forsyth, partner and head of corporate and commercial at Ellisons, led the legal team advising SolvedBy.Ai, with support from Abigail Williamson and Adam Kanharn.
Director takes over as chair of business events trade association
Louisa Watson, marketing director & sustainability lead at Wyboston Lakes Resort, has been appointed chair of beam, the UK trade association for the business events, accommodation, and meetings industry. She takes over from Julie Shorrock, managing director of HTS while David Tremmil, managing director of Inloco Events and vice chair of UKEvents was named vice chair at the association’s gala dinner at The Grand Birmingham. Outgoing chair Julie Shorrock said: “The last year has been transformative for beam. We’ve made incredible strides in raising our profile, strengthening partnerships, and setting the foundation for further growth….With Louisa and David now at the helm, I’m confident beam will continue to thrive for our industry and members.”
Louisa Watson (photo, right) said : “I’m honoured to step into this role at such an exciting time for beam. In 2024, we demonstrated the true power of collaboration and advocacy, and in 2025, this will remain my key focus. By strengthening our collective voice through strategic partnerships and continued engagement with government via the APPG Corporate Membership, we will drive real change and create even greater opportunities for our members….”
See Profile Wyboston Lakes Resort
- Trade tariffs and the AI race keep dominating the market narrative
- Discover more insights in Brown Shipley’s latest market and investment update: Markets and Investment Update – 10.02.25
- Investing puts your capital at risk
