New tech business launches jump to record high in the region
Despite the uncertain economic climate, the number of new tech businesses being launched in the region jumped by a fifth to a record high in the three months to June. An analysis by advisers RSM found that 1,135 new tech companies were incorporated in the East of England during the second quarter, up 21 per cent from the 941 recorded in the period last year and up 17pc on the first quarter. Laragh Jeanroy, office managing partner in Cambridge at RSM UK, said: “This jump in new tech incorporations to a record high shows growth in the region’s thriving tech ecosystem is firmly on the up again. Despite the numerous headwinds, tech entrepreneurs and leaders in the East of England are getting used to dealing with an uncertain world. It’s clear that businesses and investors have realised the uncertainty isn’t going away anytime soon, and may be the new norm, so it’s time to press ahead.”
Ben Bilsland, partner and head of technology industry at RSM UK, added: “Following very little for UK tech in the Autumn Budget, the government provided more detail on its Industrial Strategy and Digital and Technologies Sector Plan for tech in 2025. This added clarity will have been a boost to the sector, but significant investment is needed, and if economic uncertainty escalates, this will act as a roadblock to future tech growth.” Across the UK, a total of 14,262 new tech companies were incorporated in the second quarter, up 16pc on a year ago.
Major new £55 business development planned in Bury St Edmunds
Plans have been submitted for a major new £55 million business development in Bury St Edmunds which could create significant numbers of new jobs and boost growth in the area. Developer Churchmanor Estates has applied to build seven new business units at Suffolk Business Park that will create some 217,000 sq ft of space on over 16 acres of land on the eastern edge of the town near jct 45 of the A14. The buildings on zone 1 of the park will provide space for light industrial use, storage, R&D and offices to appeal to a wide range of growing businesses to the region. The site is next to the Avant Tecno UK hq completed by Churchmanor last year and the proposals include green landscaping, cycle paths and sustainable building features. Matt Cloke, development director at Churchmanor Estates, said: “This new phase will support local employment, attract innovative companies, and help secure long-term prosperity for the local community.” The plans follow detailed discussions with West Suffolk Council and reflect feedback from earlier consultations. Suffolk Business Park has already attracted national and regional employers thanks to its transport links and investment in high-quality facilities.
Cambs-based steel engineering group acquired by larger group
Steel specialist Cobra Engineering (UK), based in Wisbech in Cambs, has been acquired by March, which delivers critical engineering services to support leading brands. Cobra specialises in the design, fabrication and installation of stainless and carbon steel, including complex pipework and structural fabrications. It employs over 60 people and completes more than 1,200 projects each year, mainly for food manufacturing and utility customers. “Cobra brings established customer relationships, specialist skills and local presence to the group,” said Christopher Kehoe (photo), CEO of March. “It’s a clear strategic fit and builds depth in an important area of our offer, expands our UK reach, and strengthens our footprint in East Anglia.”
Meanwhile Lyndon Clancy, managing director of Cobra, said joining March gave the company: “….access to wider capabilities and broader technical support. Importantly, we’ll continue operating in the way our customers know and value, while gaining the tools to grow and improve what we do.” March, formerly Edwin James Group, has a network of 24 offices and employs over 1300 staff.
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Norwich-based financial advisory firms acquired by larger group
Titan Wealth, a London-based group with a Norwich hub, is to acquire two firms in the sector which are also based in the Norfolk county town; Finance Shop and FS Wealth Management. With £750 million of assets under advice, Finance Shop offers face to face independent advisory services. As well as Norwich, it also has offices in Great Yarmouth and Lowestoft. Established in 1990, Norwich-based FS Wealth Management has around £340 million assets under discretionary mandate and has over 4,000 clients across the UK and a team of 14 advisers. The deals follow Titan’s acquisition of local firm Loveday and Partners in 2024. Andrew Fearon, joint group CEO and mead of M&A at Titan Wealth, said: “We are pleased to welcome Finance Shop and FS Wealth. The firms have built a strong presence in East Anglia, a region of great importance to us. The acquisition allows us to continue building our geographical footprint in the East of England and further enhances our vertically integrated client offering.”
Photo (l-r): Scott Oliver, Nick Buchan, and Andy Parkes of Finance Shop and FS Wealth Management
Firms more confident on the economic outlook than their own prospects
Firms’ confidence in the economy rose 5 points to 51 per cent in the East of England in July but they were less optimistic on the outlook for their own business, according to a Lloyds survey. Companies in the East reported lower confidence in their own business prospects month-on-month, down 11 points at 49pc. Taken alongside their optimism in the economy, the bank’s business barometer gave a headline confidence reading of 50pc, down from 53pc in June. Nationally, service sector confidence improved 11 per cent to 61pc. Kirsty Sadler, regional director for the East of England at Lloyds, said: “Although confidence has dipped slightly, the East’s firms remain focused on the areas that will help them grow in the coming months – from entering new markets to investing in learning and development.”
New distribution centre handed over on Freeport East site
Construction materials manufacturer Bauder has taken receipt of its newly-completed 44,000sq ft distribution centre at Gateway 14, Stowmarket. The firm – which produces materials for flat roofs, green roofs and solar PV arrays – will keep its operational hq in Ipswich, while the new centre on the Freeport East site becomes its biggest distribution centre in the UK. The building was developed by Jaynic on behalf of Gateway 14 Ltd – a subsidiary of Mid Suffolk District Council – and built by Wilten Construction. A ceremony last week (photo) marked the handover to Bauder managing directors Yvonne Higgins and John Llewellyn. Yvonne Higgins said: “The completion of our Gateway 14 distribution centre marks a milestone for Bauder. It represents both our growth and confidence in maintaining our high standards while meeting increasing demand in the UK market.”
Financial advice firm opens new Bury office to meet growing demand
Independent financial advice firm Kingsfleet has opened a new office in Bury St Edmunds to support a growing client base. The new space at Opus House, Thurston complements the firm’s existing base in Claydon, near Ipswich. The expansion comes as the team grows to meet increasing demand. Earlier this year, James McLaughlin qualified as a financial adviser, joining Louise Gladwell, who qualified last year. Colin Low, founder and managing director of Kingsfleet, said: “Opening an office near Bury St Edmunds allows us to be closer to many of our clients in the north of the county and gives our growing team a dedicated space to meet and work.”
Business breakfast to look at what the Employment Rights Bill means for you
Barker Gotelee Solicitors is hosting a business breakfast meeting at its offices in Martlesham on September 24 looking at the Employment Rights Bill, one of the most important legislative developments for employers in recent years. It will see a morning of networking, pastries and a practical briefing on the implications of the new bill. Employment law solicitor Sam Welham will break down what the changes mean for businesses, from updated rights and responsibilities to key compliance considerations. He’ll also be on hand to answer any questions in an informal setting. For owners, managers or HR leads, is it an opportunity to connect with other local businesses and identify upcoming legal obligations. The event is at Barker Gotelee, 41 Barrack Square, Martlesham, Suffolk IP5 3RF on Wenesday 24 September; 8:30am arrival for 9:00am start. RSVP: email [email protected]
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