Firms’ optimism on their prospects grows despite worries on economy
Confidence amongst firms in the East in their own business prospects rose four points to 58 per cent in January despite mounting concerns over the health of the economy, according to a business barometer from Lloyds. Over the next six months, firms in the region see growth coming from introducing new technology (41 per cent), new products or services and by pursuing new markets. But their optimism on the economy fell 25 points to nine per cent. Kirsty Sadler, regional director for the East of England at Lloyds, said: “Despite this month’s fall in confidence, local firms are still confident in their own prospects and setting out plans for future growth, including investing in technology and enhancing their offerings.” Overall confidence in the region reflected national trends and fell to 34pc from 44pc in December. Nationally, retail sentiment improved in January and service sector confidence rose for the first time since last summer but fell in construction.
Hann-Ju Ho, senior economist, Lloyds Commercial Banking, said: “Firms are reporting confidence in their trading prospects at the start of the year, despite a slight softening of wider economic optimism. This points to businesses’ ability to manage external risks and a focus on growth opportunities.”
Norfolk businesses send message that county is ‘ready to lead UK economic growth’
Over 100 business people gathered at an event at Norwich Research Park last week to highlight the potential for growth and investment in Norfolk. Delegates at the Extraordinary Norfolk Showcase sent a message sent to investors and politicians that they should “underestimate Norfolk no more – we are a county ready to lead UK economic growth.” The theme of the event, organised by the Norfolk Business Board, was that the county is already delivering national and global economic impact and with the right backing, it is poised to do more. Nick Steven-Jones, chair of the board, said: “As national conversations on devolution and investment stall, Norfolk isn’t pressing pause. With serious government backing and long-term commitment, this county can unleash its full potential and deliver for the UK economy, our communities and future generations.” From agri-tech and life sciences to advanced engineering and manufacturing, clean-energy to food and drink, speakers and exhibitors showcased a county economy that was described as ‘diverse, resilient and ambitious.’ Speakers included Dr Philip Zegerman from Tropica, pioneering seed company, Andrew Nelstrop of The English Whisky Co, Claire Chapman of Norfolk Screen, Alton Nutile of GeoAcoustics and Tom Wood of Akcela. Sir Stephen Fry, who grew up in Norfolk, sent a message of support via recorded video.
Separately, Greater Essex Business Board is launching Greater Essex, Globally Connected: Powered by Ambition, a new manifesto setting out a vision for the future of business, growth and investment across the region.
Parent of Suffolk-based company expands in water market
The parent company of Suffolk-based Pioneer Pump has acquired two businesses aimed at strengthening its position in the UK water and groundwater markets. Franklin Electric Group, has acquired Geoquip Water Solutions and Hydrodif Products, both based in Ipswich (photo). For Pioneer Pump, which recently moved to larger premises at Hadleigh near Ipswich, the move is seen as strengthening its ability to serve a broader range of applications with increased local capability and support. Geoquip Water Solutions, supplies products and systems for the residential, commercial and groundwater sectors. Hydrodif Products provides specialist solutions for water supply systems. Hugh Langley, MD at Pioneer Pump EMENA, said: “This acquisition represents a significant opportunity for Pioneer Pump and the wider Franklin Electric Group. … Together, we are well placed to expand our capabilities, improve availability and continue investing in the long-term growth of the UK market.” Founded in 1998 in Canby, near Portland, Oregon, Pioneer Pump is a global player in water movement solutions. It started operating in the UK in 2002 from a farmer’s shed near Stowmarket.
Top taxpayers in the East of England named
Owners of businesses in transport & warehousing, care homes and asylum accomodation along with Ed Sheeran and Anthony Joshua feature in a league table of the top taxpayers in the East of England, The Sunday Times Tax List. Paul Day and family – whose haulage firm, Suffolk-based Turners (Soham), has more than 2,700 trucks – was named as the top taxpayer in the region, paying £38.5 million in 2026. The others included Gordon Sanders, Essex-based care home owner – £22.9 million in tax ; Barry and Eddie Hearn and family (sport) – £22.9 million; musician Ed Sheeran – £19.9 million; Graham King (asylum accommodation) – £16.2 million and prizewinning fighter Anthony Joshua – £11 million. Nationally, Fred and Peter Done of gambling firm Betfred top the tax list, contributing more than £400 million in 12 months. Robert Watts, who compiled the list, said: “This year there’s been a big jump in the amount of tax we’ve identified — largely because of higher corporation tax rates. All of the 100 individuals and families who appear delivered at least £11 million to the Exchequer over the past year. Fourteen of the entries paid at least £100 million.”
Region faces rising insolvency activity and fewer start-ups
East Anglia saw rising levels of insolvency-related activity alongside falling start-ups last year, according to report from R3. Its figures show that 88,154 new businesses were registered in the region in 2025 – the highest number outside Greater London – yet start ups fell by 2.7 per cent compared to 2024. Insolvency-related activity, which includes administrations and creditors’ meetings as well as voluntary and compulsory liquidations, rose by 1.7pc. Nationally, construction saw the highest level of insolvency activity in 2025 (4,584 cases), although this was down six pc on 2024. R3 Eastern chair Hayley Watson said: “While inflation has now eased, the cumulative impact of higher costs, tighter credit conditions and weak demand continues to place significant pressure on local companies, particularly smaller and mid-sized firms with limited financial headroom.”
Norfolk-based solicitor appointed as panel deputy trusted to act for ‘vulnerable individuals’
Laura Rumsey, director and head of the private client department at Norfolk-based Rogers & Norton Solicitors, has been appointed as a panel deputy by the Office of the Public Guardian. The appointments are made to a small number of experienced professionals who are trusted to act in Court of Protection matters for individuals who lack mental capacity and have no suitable family member or friend able to manage their affairs. There are a limited number of panel deputies nationally, with very few in Norfolk. She will be eligible to manage a wide and varied caseload, including complex financial deputyship matters, cases involving vulnerable individuals and lower-asset or pro bono appointments. Laura Rumsey (photo, right) said: “Court of Protection work is an area I am particularly passionate about, as it allows me to support some of the most vulnerable people in our community. This role carries a great deal of responsibility, and I am proud to be trusted to act in the best interests of those who need support managing their affairs.”
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