Firms stay confident as they ‘treat uncertainty as the new normal’
Business leaders in the East of England remain confident on the economy and their own growth prospects despite high costs and expectations of extra taxes this year. Grant Thornton UK’s business outlook tracker survey of mid-sized businesses in the East show 84 per cent businesses had a positive outlook on the UK economy. Whilst recruitment investment intentions remain strong, some 90 pc of businesses in the East said the increases in NIC and the minimum wage had caused them to reduce or freeze hiring. Most firms said they’d had to cut jobs. Yet most feel supported by government strategy and that its policies promote economic stability and growth. Some 88pc of mid-market businesses expect revenue growth for the next six months to remain steady and 57pc expect profits to increase. Charlotte Anderson (right), practice lead for Grant Thornton UK in Cambridge, Milton Keynes, and Chelmsford, said: “Businesses in the East of England have learnt to treat uncertainty as the new normal…companies across the region are showing remarkable resilience despite ongoing challenges from trade disruptions to policy changes at home.” She added: “What’s encouraging is that businesses in the East of England are actively preparing for growth, with recruitment intentions remaining strong. Companies are demonstrating real adaptability – adjusting pay structures, carefully managing prices, and making strategic investment decisions to protect their margins.”
£1 billion partnership deal signed for water investment in the region
Anglian Water has signed a £1 billion deal with its infrastructure partners, AtkinsRéalis, Mace and Turner & Townsend, for its capital investment delivery over the next 15 years. It starts with the utility’s biggest-ever business plan, worth £11 billion, which got underway in April and runs until 2030. The new agreement, which is set to last until 2040, covers Anglian Water’s entire investment programme in the East and includes its two new reservoirs, in the Fens and Lincs, and desalination plants in Norfolk and Lincs. The investment will support growth in the region’s population – which is set to rise by more 700,000 by 2043 – and housing. It will also upgrade infrastructure for industrial growth in areas such as data centres, Sizewell C and the hydrogen expansion on the Humber bank. Jason Tucker, director of commercial operations for Anglian Water, said: “We’ve put collaboration at the heart of Anglian Water’s infrastructure delivery for more than 20 years, making us true industry leaders in this area. This new contract is a hugely exciting new phase, as part of our broader ambition to deliver much-needed investment for our customers into the future.”
New global shipping service makes first call at Port of Felixstowe
The Port of Felixstowe recently received the first call by The Premier Alliance’s FE4 service between Asia and North Europe. The 24,000 TEU HMM Southampton arrived at the Suffolk port on 20 July from Singapore via the Cape of Good Hope. The Premier Alliance was formed earlier this year by Ocean Network Express, HMM (formerly Hyundai Merchant Marine) and Yang Ming, as a five-year extension of a previous partnership. It aims to deliver a reliable and flexible service with expanded global coverage. Clemence Cheng, executive director of Hutchison Ports and Port of Felixstowe CEO, said: “The FE4 service adds further options for shippers through Felixstowe and Felixstowe provides the Premier Alliance with first-class facilities as well as the deepest channel and quayside facilities in the UK….The unique extent of the deep-water access at Felixstowe is particularly important for services such as the FE4 which call at the UK as first port in Europe. They offer shippers the quickest transit times but arrive with the deepest drafts. Using Felixstowe avoids congestion and minimises delay.”
Separately,
Norwich-based group wins ‘insurance broker of the year’ award
Norwich-based Alan Boswell Group has been named ‘Insurance Broker of the Year’ at the British Insurance Awards 2025, held in London earlier this month. The firm stood out for its customer-first approach, continued investment in people and communities and commitment to providing friendly, expert advice. Executive chairman Alan Boswell said: “We’re proud to be recognised as Insurance Broker of the Year. This award is a testament to the hard work and professionalism of everyone across our group and reflects our continued commitment to putting clients at the centre of everything we do.” Founded over 40 years ago, Alan Boswell Group is one of the UK’s largest independent insurance brokers. It employs over 450 staff across seven offices throughout East Anglia, Cambs, and Lincs and bolstered its presence in the region recently with the acquisition of three brokers.
Photo (l-r): Insurance Broker of the Year – Katherine Ryan, Wendy Burgess (business insurance director), Mike Greenland (markets development director), Dave Martin (Aviva), Adrian Rayner (commercial director), Alastair Drew (finance director), Heath Alexander-Bew (personal lines director).
See Profile Alan Boswell Group
Cambs company hosts MP visit to showcase apprenticeship initiative
Cambridge company Domino recently hosted a visit from its local MP to raise awareness of a national initiative to boost opportunities for apprenticeships in manufacturing. Ian Sollom MP for St Neots and Mid Cambridgeshire, Liberal Democrat spokesperson for universities and skills, visited the company’s Bar Hill hq to learn more about its role in a joint venture with trade association Automate UK to trial apprenticeship clusters in Cambs and Bucks. Automate UK has been working with members Domino – a global leader in coding, marking and digital printing – and SMC to launch the clusters in a bid to grow the talent pool in manufacturing and train young engineers. The scheme enables apprentices in the sector to acquire a broader range of skills through collaborating with other Automate UK members. Mark Gearing, Domino R&D director – print systems, said: “As a business we have run a very successful apprenticeship scheme for many years and we see this latest collaboration as enhancing further our commitment to early stage careers and training the workforce of the future.”
Photo (l-r): Josie Harries, apprentice Peter Mizuro, Ian Sollom MP, Mark Gearing, Andrew Clifton, Peter Williamson, Automate UK and apprentice Cheta Nwandu .
Briefly
New grid capacity could unlock ‘hundreds of millions’ of investment
New electricity grid capacity around Felixstowe and Harwich could unlock hundreds of millions of pounds of investment, according to a new report from the Renewable Energy Association. Its Green Transport Hub Strategy report found that investment in 500 MW of new grid capacity around the Freeport East Economic Area could boost the area as a transport, manufacturing and digital hub, supporting thousands of new jobs.
High spec industrial unit let on speculative scheme in Ipswich
Developer Hillwood has let a high spec industrial unit at Access @ Eastern Gateway in Ipswich to TPS – a trade-only supplier of Volkswagen Group parts and products – following the speculative scheme’s completion in 2024. Penn Commercial, Lambert Smith Hampton and Savills act as retained leasing agents for Hillwood on the letting of Unit 6A which covers 12,897 sq ft. Vanessa Penn, managing director of Penn Commercial, said: “We are thrilled that TPS Ipswich are occupying Unit 6A on a 15-year lease. This represents a significant investment on the part of TPS Ipswich, who will be relocating their business from their existing smaller unit on Farthing Road nearby.” Two further units are under offer to occupiers, leaving one remaining unit of almost 52,500 sq ft available. The scheme is part of the wider Eastern Gateway Commercial Park, industrial and logistics location.
Property agency team’s charity walk exceeds fundraising target
An employee team from property agency Fenn Wright and mortgage partners, Fitch & Fitch, completed a 25-mile walk through the Suffolk and Essex countryside earlier this month to raise funds for The Tom Bowdidge Youth Cancer Foundation. Starting from the Fenn Wright office in Sudbury the team of 42 followed the St Edmund Way, Stour Valley Path and Essex Way, finishing at the firm’s Manningtree branch and completing the walk in 10 hours 23 minutes. The foundation is Fenn Wright’s chosen charity of the year and has so far raised £6,753. Founded in 2014 in Tom’s memory, the charity supports teenagers and young adults aged 13-24 who are facing cancer. Run by Richard and Nikki Bowdidge, money raised by the foundation has so far created eight rooms and age-appropriate spaces and more than £500,000 has gone towards funding a research project looking into targeted treatments for teenage cancers. James Gunther, partner, who took part in the walk said: “The Tom Bowdidge Foundation is an incredible charity that we are proud to support, and it was great to see Richard and Nikki as we crossed the finish line.” Fenn Wright will be holding other fundraising events this year and donations can be made through a JustGiving Page – here.
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