Firms hit by global uncertainty still have high hopes for growth
Almost a third East of England businesses have seen demand fall due to recent global economic uncertainty but most still expect to grow this year, according to a Lloyds Business Barometer survey. It shows 40 per cent of firms in the region have been impacted by global uncertainty, particularly rising costs and reduced demand (30 pc). Despite this, 58pc of firms said they still expect to grow this year. Many are adjusting their strategy in response the changed outlook with measures such as cost-saving, increased inventories, locked-in input prices and currency or forex hedging. Kirsty Sadler, regional director for the East of England at Lloyds, said: “Despite wider pressures businesses across the East of England are continuing to demonstrate their resilience. By proactively taking actions to cut costs and preserve their inventory, a majority of firms are showing there is still a clear path to growth for both themselves and the wider region.”
Amanda Murphy, CEO for Lloyds business and commercial banking, said: “What we’re seeing from businesses is not just resilience, but decisive action in the face of ongoing uncertainty.” Nationally, more than half (57pc) of businesses say they have been impacted by recent global uncertainty.
New 70 bed care home to be built in Ipswich with £14 million loan
A new purpose-built 70-bed care home for the elderly is to be built in Ipswich to meet strong local demand for modern accommodation by an experienced developer in the sector, Morrison Community Care Group. The new three-storey building will be built with the aid of £14 million loan from Puma Property Finance, which has previously lent funds to Morrison. The new home will include solar panels and communal amenities, such as a hair salon, cinema, restaurant and a 35-space car park. In all, it will provide almost 4,000 sq m of internal space. Industry data points to a local care bed requirement of 1,266 against current availability of 830 existing en-suite wetroom beds. MCCG has delivered nine completed care homes to date, totalling 542 beds. Managing director Paul Sokhi said: “There remains a significant shortage of high-quality later living and nursing care facilities across the UK, and we look forward to progressing the scheme with the ambition of delivering another best-in-class care home for the local Ipswich community.” Practical completion of the Ipswich care home is forecast for October 2027.
Law firm expands employment team in Norwich ahead of ‘influx of new legislation’
A major law firm in the region is expanding its employment law team to support businesses across East Anglia that it says are preparing for an influx of new employment legislation. Howes Percival has appointed James Conley who was originally from Norwich and has ten years’ experience working in legal services in region. Employment partner Matthew Potter (photo, right) said: “We want to expand the employment team in East Anglia and in Norwich specifically as we are seeing increased demand from a large number of employers who are looking to prepare for the influx of new legislation from the Employment Rights Act 2025.” He added: “We are currently working with clients across a range of sectors, assisting them to review and update their contracts of employment and employee handbook policies during this period of change in employment law and new legislation which creates further red tape for employers and more opportunities for employees to pursue claims.” James Conley (left) advises on a wide range of both contentious and non-contentious employment law matters and has worked in the sports sector. He has acted for Championship and Premier League football teams, as well as motorsports teams in Formula 1, 2 and 3.
Separately, more than one-quarter (26pc) of workers feel their managers and employee representatives are ineffective at working together to prevent and resolve conflict, according to a new Acas survey. The survey by YouGov, also found that nearly one in three workers do not have any employee representatives who could help prevent conflict.
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New ‘energy farm’ set to be ‘defining feature’ of Cambs research campus
Wellcome Genome Campus has unveiled plans for a new ‘energy farm’ to support its growing site south of Cambridge and an provide educational hub for the public see sustainable energy solutions. The Hinxton Campus is expanding from 125 to 440 acres delivering workplaces for companies in research and translation, 1,500 homes, sports, health and fitness, hospitality and community spaces. The new purpose-built energy hub will involve a 5th generation heating and cooling network, an “ambient loop”, which will distribute low temperature energy across the campus and cut energy consumption by up to 50 per cent. It will also include local microgrids with PVs, battery storage and intelligent controls and a primary substation. Matt Soules, head of development management at the campus, said: “Energy infrastructure is often designed to sit quietly in the background, or hidden in uninspiring housing, but here we want to celebrate our leading approach to sustainability and make the energy farm a defining feature of the Wellcome Genome Campus.” Plans have been submitted and if approved work is set to start later this year for completion towards end-2027.
Separately, Cambridge-based biotech company Trimtech Therapeutics, which is developing novel small molecule therapies to target neurodegenerative diseases, has raised an additional $14 million in seed funding, bringing the total for the round to $47 million (£35 million). The financing was led by Johnson & Johnson Innovation and BGF, who join existing investors.
New air service to launch between Essex and Edinburgh
easyJet is launching a new route between London Southend Airport and Edinburgh, starting in the autumn and operating twice a week on Thursdays and Sundays. The route is timed for long weekends, short breaks and family and business travel and aims to offer flexible and affordable travel options between the two cities. Nigel Mayes (photo, centre), business development director at London Southend Airport, said: “…As one of the most searched-for destinations on our website, we know there’s strong demand for a direct link to Scotland’s capital, making this our third domestic route and a hugely exciting addition to our growing network with our partners at easyJet, and for passengers across Essex, London and East Anglia.” The first flights are from October 25 and fares start from £23.99.
Suffolk estate brings listed barn back to life
Helmingham Estate in Suffolk has brought back to life a Grade II-listed barn in its grounds to create a walkers’ hub, café and interpretation space for the local community. The 17th century Wades Barn has been updated ahead of the opening of the estate’s new woodland adventure playground, Guildenacre, from June 27th. Edward Tollemache, custodian of Helmingham and co-founder of Guildenacre with his wife Sophie, said: “Wades Barn hasn’t had an active use for many years and needed thoughtful repair. This historic building now has a fitting new purpose; we’ve created a place which will benefit the local community and our visitors to both Guildenacre and Helmingham Estate.” Hoare, Ridge & Morris, Suffolk-based architects, have led the design project.
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