agenda

CELEBRATES UK FASHION BUSINESS AMBASSADOR

British designer Anya Hindmarch, who was appointed in 2010 by Prime Minister David Cameron as a Business Ambassador to support UK exports and to encourage foreign direct investment, highlighted the innovation and creativity of the country’s designers. Speaking at London Fashion Week in February, Hindmarch said: “London is a true centre of creativity and home to a huge amount of talent underpinned by a strong network provided by the British Fashion Council and UK Trade & Investment. London Fashion Week is a crucial showcase for gifted and innovative designers, both home-grown and international.” With visitors from more than 25 countries including the US, France, Italy, Russia, the Middle East and UAE, London Fashion Week generates around £100m while the fashion sector more widely contributes nearly £21bn to the UK economy, representing 1.7 per cent of total GDP, and supports 1.31m jobs.

CFOs believe exports are key priority for 2011

A study by Deloitte has revealed that CFOs are increasingly confi dent about the sustainability of the economic recovery, with expansion a top priority for 2011 through the introduction of new products or services and exports to new markets. In the report, 61 per cent of surveyed CFOs saw territories outside the UK as a main driver of revenue growth, with 34 per cent regarding emerging markets as the biggest contributor. Cost control has dropped from fi rst to third priority. Margaret Ewing, Deloitte partner and vice chairman, said: “If 2010 was the year of balance sheet rebuilding and cost cutting, then 2011 looks set to be the year in which corporates start spending again. A new emphasis on expansion by the UK’s large companies lends support to the idea that the recovery is likely to broaden out during 2011, aided by growth in private-sector hiring and capital spending.”

The Deloitte study is the 14th survey of chief fi nancial offi cers and group fi nance directors of major UK companies.

Summit nets UK FDI

A two-day Nordic Baltic Summit, an event designed to connect government heads, policy innovators, entrepreneurs and business leaders, has resulted in foreign direct investment (FDI) with the announcement of four major trade deals and the creation of hundreds of jobs. Leading energy company Vattenfall is to set up an HQ in London, initially employing 50 people, with billions of pounds of investment through to 2015. Meanwhile, Vestas, a wind turbine company already present in the UK, is to open a new test centre housing up to 400 engineers. Arla Foods, owner of household brands Lurpak, Anchor and Cravendale, is to open a ‘super dairy’ in Aylesbury, creating more than 1,000 jobs and generating £17m for the local economy. Icelandic company InfoMentor has also signed a Letter of Intent with Plymouth fi rm WebBased to create educational software programmes.

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