Business optimism surges as firms take ‘tough measures’ to tackle rising costs
Optimism among mid-sized businesses has risen sharply in the East of England as firms respond to increasing employment costs with plans for tough measures to reduce recruitment and pass on higher expenses to customers. According to Grant Thornton UK’s business outlook tracker, the share of mid-sized firms planning to cut or freeze hiring has risen to 69 per cent from 48 per cent in December, following the Autumn Budget. Reduced or no pay increases and bonuses and employee benefits are also being explored. In all, the survey showed that 78 per cent of mid-sized firms in the East of England were optimistic about revenue growth prospects in the next six months and 93 per cent expect higher profits, up from 58 per cent in December. Charlotte Anderson (photo), practice lead for Grant Thornton UK in Cambridge, Milton Keynes, and Chelmsford, said: “Beyond the numbers, what we’re seeing across the East of England is the remarkable adaptability that makes our region such a vibrant business hub. Local business leaders are making tough but necessary decisions today that will protect their growth trajectory tomorrow. The survey found larger UK firms – often with international exposure – are now less optimistic about both their own fortunes and the domestic economy.
Water utility launches £11 billion investment programme to prepare region for growth
Anglian Water is embarking on a five year programme of work worth £11 billion almost double the investment of the previous period. By the end of the decade, the utility company says it will have replaced over 1000km of water mains, completed its strategic water grid and be ready to start construction on two new reservoirs. Some 1bn will be invested in tackling storm spills. Anglian says the investment is need for growth in the East of England, which includes the country’s four fastest-growing cities: Milton Keynes, Northampton, Peterborough and Cambridge which are set to see more than 720,000 new residents over the next 20 years. Chief executive Mark Thurston said: “The next five years is a crucial time for the industry as we support and enable economic and housing growth across the UK. Neither of these things can happen without significant investment in the right infrastructure – both maintaining existing and creating new assets.”
Richard Tunnicliffe, regional CBI director for the East of England, said: “This significant investment will not only bolster the economy by creating jobs in all parts of the region but also ensure the East is well-prepared for future population and business growth and prepare the region for an exciting future.”
New phase of expansion planned at Suffolk technology park
A new expansion phase is being planned at Port One Logistics Park at Great Blakenham near Ipswich which is being renamed Port One Technology Park to reflect the diverse range of businesses envisaged for the site. The current 150 acre site, Port One South (photo) is due for completion in the next 18 months and Port One North scheme is now planned. As well as some 3.2 million sq ft of warehouse space, development plans include engineering, innovation, vertical farming and advanced technology businesses and a 1.2 million sq ft data village. Matthew Slater, MD of Curzon DV Group, said: “Port One is already one of the nation’s most important logistics sites and we’ve been growing at pace due in equal parts to demand from international businesses and our own ambitions to build a project that puts Suffolk on the global map and helps drive the local economy forward, creating thousands of high quality jobs and ensuring that our region regains its status as a leader in enterprise and industry.” When completed the developer estimates the Port One site, part of Freeport East, will create 3,500 new jobs and generate £3.4 billion in revenues.
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Digital programme for manufacturing SMEs launches in the East
Manufacturers in the East are being urged to sign up to a government programme to help SMEs embrace digital technologies for growth. Made Smarter gives access expert advice, leadership training, student interns and technology grants worth up to £20,000. The programme, which has been launched in other UK regions, is being delivered by Norfolk County Council.to help drive growth, productivity and sustainability. Cllr Fabian Eagle, cabinet member for economic growth, said: “The launch of the Made Smarter Adoption programme in the East of England marks a key moment for our manufacturing sector. It goes beyond simply adopting new technologies – it’s about future-proofing businesses, enhancing productivity, and fostering a culture of innovation.” During its pilot year, Made Smarter East of England will aim to engage with 133 businesses and deliver 80 digital road mapping sessions.
Essex-based utility surveying specialist acquired
A utility surveying specialist, SurvaTec, based at Wakes Colne, near Colchester, has been acquired by Survey Solutions, a larger group in the sector based in Scotland. Established in 2004, SurvaTec provides land surveys, utility mapping and specialist geospatial solutions across the UK. Ben Shearman, managing director at SurvaTec, who will remain with the business following the acquisition, said: “This partnership marks an exciting new chapter and I’m looking forward to the opportunities that being part of a larger group will present.”
David Lowe, CEO of Survey Solutions – which has 14 regional offices and 200 employees – said: “SurvaTec has grown to become a well-regarded business, and our respective clients will benefit from an even wider range of services, delivered by highly skilled engineers. “
Expanding Suffolk manufacturer opens new ‘pump school’
Suffolk-based specialist industrial pump manufacturer, Pioneer Pump, has officially opened a new customer and training facility, following a recent move to a larger site at Hadleigh. Managing director Hugh Langley, said: “With our Pump School, we’re giving customers and our own teams the tools and knowledge they need to maximise performance and efficiency – and innovation. Seeing a how a pump works, in a practical way of learning gives a whole new level of understanding.” The recent relocation and investment, saw the company move from a 10,000 sq ft site near Stowmarket to a significantly larger 66,000 sq ft facility.
Law firm hires contentious trusts and probate specialist as new instructions rise
Norwich law firm Howes Percival has recruited contentious trusts and probate specialist Anna Kelly following a sustained increase in new instructions. She has wide experience advising clients in respect of claims pursuant to the Inheritance (Provision for Family and Dependants) Act 1975, Will validity claims, the removal of executors and trustees, claims concerning domicile disputes and proprietary estoppel claims and is a full member of the ACTAPS (Association of Contentious Trust and Probate Specialists). Howes Percival partner Jennifer Laskey said: “It is fantastic for the firm to add another ACTAPS qualified lawyer to our already strong team….Contentious probate claims continue to make the press, and this added profile is also driving more people to consider making a claim against an estate, as they are more aware of the issues. As a result, we are seeing more executor and trustee disputes, the removal and replacement of executors, and challenges to the validity of wills and claims for financial provision under the Inheritance Act.”
Commercial propery agent recognised with awards
Property agent Fenn Wright has been recognised with several awards for its performance across multiple sectors in the East of England from Co-Star, the commercial real estate platform. In recognition of cumulative deals across 2024, Fenn Wright was placed first with : Industrial Award – Most Active Disposal Agent in the East of England; Regional Investment Agency Award; Most Active Disposal Agent for Offices in Essex (based on both square footage and number of transactions) and Most Active Acquisition Agent for Offices in Essex (based on square footage). Alistair Mitchell, partner and head of commercial at Fenn Wright, said: “It reaffirms Fenn Wright’s position as one of the market leaders in Essex and the East of England, particularly in the areas of office and industrial disposals and acquisitions….”
Key marketing appointment at law firm
Law firm Ellisons has appointed Matthew Rowe as head of marketing, following an interim period. With over 20 years of experience in professional services marketing, he has worked with some of the region’s largest firms, as well as being a regional director for the East of England committee at PM Forum. Lizzy Firmin, chief operating officer at Ellisons, said : “We initially brought Matt in on an interim basis and we’re thrilled that he has agreed to join us permanently on a part time basis. His leadership has already played a crucial role in strengthening the marketing team and his expertise in the legal sector, alongside his deep understanding of the East Anglia market, will be invaluable as we look to achieve our long-term strategic objectives.”
Matthew Rowe said: “I’ve loved my short time at Ellisons and I’m confident the team will continue to build on the solid foundations we’ve established to drive Ellisons’ marketing efforts forwards.”
Photo (l-r): Matthew Rowe, Georgina Phipps, Emma Boorman and Poppy Tamang.
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