focus on oxford 17 A brighter future for Oxfordshire?


Oxfordshire is a special part of the UK. It has some major advantages, notably world-class education facilities, which underpin dynamic and forward-looking hi-tech, medical and bioscience sectors. Its location between London and Birmingham is also vital to its success


As a result the impact of the recession has not been as severe as some other areas of the country.


But Oxfordshire has some major disadvantages too. Higher-than-average wages mean residential property is expensive even by south of England standards, which can cause recruitment challenges for employers, while a large number of public sector organisations could make it vulnerable to government spending cuts.


Making a case for overseas inward investment into the county can also be difficult, especially as it cannot offer grants to lure companies in.


However, its relatively low unemployment rate and its stable economy are proof that the county punches above its weight.


Trevor French, head of Oxfordshire region at Barclays Corporate, believes the area has a bright future as the UK economy emerges from the downturn.


And his faith is reflected in Barclays Corporate’s decision to create a 10-strong team of relationship directors covering the county.


These directors specialise in education (which has two specialists), agriculture, telecoms-media-technology, property, professionals, retail and warehousing, business services and not for profit.


“These really are specialists,” said French. “They have a deep understanding and knowledge of their sector and so can engage far closer with businesses in those industries.


“We were the first bank to introduce this approach, which provides a clear demonstration that we are seeking fresh business opportunities around the county. Our relationship directors can also call on the full range of Barclays services when dealing with a corporate client, this includes Barclays Capital and Barclays Wealth and access to the huge pool of expertise and research we have based in our London headquarters.”


Barclays Corporate is aimed at providing a financial partner to businesses turning over £5 million-plus and is designed to give top-end companies the highest level of dedicated service.


“Anecdotal evidence shows that January was relatively strong year on year,” said French. “I have spoken to many of our clients who have indicated that sales and margins


THE BUSINESS MAGAZINE – THAMES VALLEY – JUNE 2011


Details: Trevor French 07917-426547 trevor.french@barclayscorporate.com


www.businessmag.co.uk


were up on the previous year, although some sectors are clearly having a more challenging time. We increased our lending book last year, which is a strong indicator of our commitment to the county.


“We are very much open for business. We want to hear from companies that are doing interesting things and with our specialists we really understand the county’s key sectors. Barclays also sponsors Isis – the Oxford University incubator – which positions it as a key player in the county’s high-growth technical, life sciences and bio sectors, offering funding to fledgling firms in these fields.


“We want to back businesses with potential for innovation and growth,” added French. “A lot of businesses I talk to in this area have both. They go together. And that often means export-led growth as well, which in turn will trigger growth for the wider economy.


“For example, one of our clients, who we have banked for over 25 years is now generating 25% of its sales in Europe. Twelve months ago this was less than 5%. Another client, a software firm, has just won its first contract in the Far East.


“Our strength is that we are keen to work Trevor French


with these types of businesses and have the team in place to do that.


“We support growth and we believe a strong private sector is going to be key to the future of Oxfordshire.”


IBC Solar UK


IBC Solar UK, a subsidiary of German group IBC Solar, one of the world’s leading photovoltaic specialists, recently opened on the Oxford Business Park South. Managing director Andreas Heinrichs said the firm chose Oxford because of its location close to London and between the target markets of the south and Midlands and because of its excellent motorway and rail links and proximity to major international airports.


He also said there was an “excellent opportunity to engage with highly- qualified people as the business expands” and, last but not least, named the area’s high quality of life as a factor.


Barclays Corporate pitched for IBC Solar UK’s business against a number of other banks. Heinrichs said: “We are convinced that Barclays, with its professionalism and UK-wide network of branches, is an ideal partner for IBC and its customers.”


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