New business growth picks up as firms set to ‘switch to hiring mode’
New business in the East of England grew at a faster pace in October and the rate of job shedding and input price inflation slowed in the region, according to a key survey of purchasing managers. The NatWest East of England growth tracker business activity index rose to 52.1 in October, up from 51.3 in September and signalling higher output for the sixth month running. The rate of growth picked up to a four-month high. But workforce numbers in the East fell for the 14th month running as private firms used recruitment freezes, non-replacement of leavers, internal reorganisations and fewer temporary staff. Lisa Phillips (photo, right), regional managing director, Midlands and East, Commercial Mid Markets, said: “The latest survey…revealed a further easing in the rate of decline in employment to the slowest since September 2024, which was the first month that workforces began shrinking. This suggests that companies have largely adjusted to higher labour costs and could soon switch to hiring mode should new business growth continue to strengthen.” The rate of input price inflation eased in October for the fifth time in six months to the weakest this year although still above the long term average.
Insolvency related activity jumps ahead of Autumn Budget
A sharp rise in insolvency-related activity in East Anglia ahead of the Autumn Budget indicates ‘the perilous state of the local economy’, according to the Eastern branch of R3. Its figures show that there were 323 cases of actions such as administrator and liquidator appointments along with creditors’ meetings in the region in October. This was up 19 per cent up on September although still 23 pc down on October a year ago. There was also a monthly increase in the number of East Anglian companies with late payments, with 63,304 businesses having unpaid invoices past their due date in October, the highest regional figure outside London. R3 Eastern chair Hayley Watson (photo), a director at FRP Advisory in the region, said: “We have seen increases in insolvency-related activity since the start of the year, but this latest rise is clearly a cause for concern. Trading conditions continue to be extremely challenging and business leaders up and down the country, many of whom are delaying major investment or recruitment decisions, will be hoping for measures in the November Budget which help restore confidence.”
Suffolk-based civil engineering firm sold to national group
Bury St Edmunds-based Claret Civil Engineering, a specialist water and infrastructure services business, has been sold to Network Plus, a leading utility and infrastructure service provider. Forward Corporate Finance advised Andy Gibbons, managing director and sole shareholder of Claret on the sale of the company. Founded in 1994, Claret delivers turnkey solutions across the water, wastewater, and wider infrastructure sectors. The business has built a reputation for network maintenance and enhancement activities and has developed long-standing relationships with major water companies and leading contractors. The deal gives Claret the scale and support of a national operator while Network Plus strengthens its offering in the water and wastewater sectors. Andy Gibbons (photo, above) said:“Our success is down to the dedication of our people and the trust of our clients. Joining Network Plus is an exciting next step for the business — it provides the platform to continue growing while maintaining the quality and values that have always defined us.”
The Forward Corporate Finance team, led by director Rob Dukelow-Smith and Amie Goodlad, acted as lead advisors to Andy Gibbons throughout the process, from the initial approach through to completion. Rob Dukelow-Smith, said: “The business has an excellent reputation, a strong customer base, and a highly capable team. This transaction provides a great outcome for everyone involved, and we wish Andy and the team every success as part of Network Plus.” Legal advice was provided by Birketts with accounting and tax support from Whitings.
See Profile Forward Corporate Finance
Cambridge-based companies feature among fastest-growing tech companies
Three Cambridgeshire-based companies are among the winners of Deloitte’s 2025 UK Technology Fast 50 awards. Levidian, Monavate and Obrizum feature in the awards, which rank the 50 fastest-growing tech companies in the UK based on average revenue growth over a three-year period. Cambridge-based decarbonisation company Levidian (photo, right) was placed 16th and won the CleanTech award. Cambs-based Monavate, a fintech business, was ranked 23rd and Obrizum, a software business, was ranked in 44th place. Julian Rae, Deloitte Cambridge office senior partner and head of emerging growth for the UK firm, said: “For nearly three decades, the Fast 50 has highlighted rapidly growing and innovative technology companies across the UK. And 2025 is no different with this year’s cohort having grown around 20 times on average over three years, showing that the UK tech scale-up sector is continuing to demonstrate remarkable resilience amidst global economic shifts.” The combined revenue of the Fast 50 companies was £2.41 billion in 2024/25, with an average revenue growth of 1,905 pc over a three-year period. Meanwhile, a survey with the awards found that the US remains the dominant global market target for tech companies, cited by 61 per cent of respondents.
Norwich-based nursery expands to meet growing demand
An outdoor nursery based in Norwich is expanding its site with two new buildings to meet growing demand for early-years childcare and education. The Children’s Garden Day Nursery was founded by husband-and-wife team Ed and Claire Kenyon and looks after 120 children up to the age of five. The nursery, based in the walled garden at an 18th century mansion, Colney Hall, is using £250,000 in funding through Lloyds’ Clean Growth Finance Initiative, which offers discounted lending to fund sustainable investments. The new buildings will enable the nursery to take on an additional 30 children. Ed Kenyon said: “In recent times we’ve seen a sharp rise in demand for early-years education and childcare, and my wife Claire and I were keen to find a way to grow our capacity to help provide this service for more parents.”
Separately, a £30 million forward funding deal has been completed for two new, purpose-built care homes in Peterborough and in Radcliffe, Nottinghamshire. The deal was completed by Octopus Capital, a real estate lender and investor with Synergy Care Developments. Together, the two homes will provide 152 beds and will both be operated by Acacia Care. In Peterborough, the design will restore a locally listed former pub, The Cherry Tree.
Law firm recruits new partner to private client legal team
Ashtons Legal has appointed Sally Power as a new partner in its lifetime planning team based in the firm’s Cambridge office. She is a member of the Society of Trust and Estate Practitioners and her expertise has been recognised as a leading private wealth lawyer this year in the Chambers and Ptns legal directory. Ashton’s lifetime planning team helps clients across the region create and implement plans for their and their families’ futures, including the transfer of wealth between generations. It is one of the largest private client legal teams in East Anglia, with seven partners and 60 other dedicated professionals in the team. Sally Power’s recruitment is part of the firm’s plans for significant further growth of this team, both through external recruitment and investing in the training and development of its existing people. CEO James Tarling said: “Sally is joining a busy and growing team who, like her, are passionate about providing an approachable and compassionate service to our clients tailored to meet their individual requirements.”
Growth at Ipswich-based IT company reflects new strategy and investment
Ipswich-based business IT support company ICS has seen 30 per cent growth following a change of strategy and investment made in the last year. The changes have seen Craig Starling’s promotion to director, a rebrand, investment in marketing and PR, increased headcount, new services and a focus on customer service. In the past three months, ICS, has added three new team members, two IT engineers and one junior digital marketer, increasing its headcount by 25 per cent. The expansion has increased ICS’s capabilities across IT support and boosted its online presence. Craig Starling said: “While skills can be developed, it’s personality that really matters, and that’s what we look for. We look for people with the right attitude and approach to working with clients, that’s what makes us different.” ICS, which has clients across Suffolk, Norfolk and Essex, plans to continue building on its momentum, strengthening its presence across East Anglia.
Photo: Tim Goulding (left) and Craig Starling (right).
Venue wins three prizes at event industry awards
Wyboston Lakes, the conference, training and leisure venue on the Cambs/Beds border, has won prizes in three categories at the event industry’s Famtastic Awards. The venue won the Best Green Initiative title for its Room2Give scheme (photo), where a donation is made to local charities if a guest opts out of room-cleaning and which has raised more than £31,000 since its launch this year. It also won Best Marketing Campaign for its ‘More Than Monday to Friday: How We Unlocked the Power of Weekend Events’ and took the runner-up award in the Best Conference Centre/ Hotel category. Louisa Watson, marketing director and sustainability lead, said: “…These awards are a testament to the hard work, creativity, and commitment of our amazing team – especially in continuing to drive sustainability and innovative guest experiences.”
- Nobody’s a crystal ball (and that’s ok)
- Discover more insights in Brown Shipley’s latest market and investment update: Market Overview – Trade Deals, Earnings & Interest Rates Insights
- Investing puts your capital at risk
