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news opinion
Are we waste deep in the mire, or climbing out of the hole and welcoming a bright, fresh spring?
Heaven knows. Actually, no-one knows, least of all the economists.
Last month we received the results of a survey from BDO saying things were really, really bad. And one from Lloyds Bank agreeing they were not good.
According to BDO, business confidence hit a 21-year low, and there was a real risk of a triple-dip recession. Lloyds, through its purchasing managers’ index, suggested a slowdown in business activity, with new orders falling.
Yet the CBI is more upbeat. It thinks we are not heading for a triple-dip and that the economy will expand slowly in the first quarter of 2013.
We’d like to think the CBI is right. After all, how can an economy that has created about 800,000 private-sector jobs since 2011 show no growth?
Economists are looking at the jobs boost and wondering why the UK’s productivity levels are not a great deal better. We are taking people on, but not necessarily producing more.
This is surely all down to confidence. And this is where the Government can lead the way.
In this month’s Budget,
the chancellor must boost infrastructure investment and must encourage companies, through tax breaks, to start spending again.
And with encouraging signs that growth in China, Japan and the United States will spur global demand this year, the time is right for George Osborne to get his chequebook out.
David Murray Publisher
www.businessmag.co.uk
Portsmouth shapes up
Portsmouth’s business leaders need to ensure local people benefit from funding being ploughed into the city.
More than 250 delegates from commerce and industry attended the Shaping the Future of Portsmouth conference, which looked at the organisation’s achievements to date and then ahead to building upon them.
Portsmouth City Council’s director of regeneration, Kathy Wadsworth, used the event to outline plans to ensure residents are best placed to benefit from the investment. She said: “It’s fantastic that we have so much investment coming into the city, but we need to make sure we take full advantage of it.
“It’s no good creating thousands of new jobs if they aren’t going to
people from Portsmouth. We will aim to ensure our residents and young people have the skills to meet employers’ future demands, which will lead to more choices of quality employment.“
Successes include funding bids for Tipner’s regeneration, replacing Northern Road bridge, making Portsmouth a super- connected city and sustainable transport, all of which contribute to £1 billion of investment coming in to the city.
The conference marked two years since Shaping Portsmouth was formed. The organisation comprises public and private employers of all sizes who have come together to focus on regeneration and drive economic growth within the city.
Proposals for a new 19-point action plan were unveiled, which aim to keep businesses, the council and other major organisations in the city working together to ensure a bright future.
Leader of the city council, Gerald Vernon-Jackson, continued: “The partnership between the public and private sectors in Portsmouth is one of the strongest in the country and that is thanks to the Shaping the Future of Portsmouth group.
“The focus is on creating the right conditions for businesses to thrive, whether they’re established, re-locating to the city or new start- ups, and ensuring residents have the necessary skills to benefit from resulting jobs.“
Other speakers included former Dragons’ Den star Doug Richard; Portsmouth entrepreneur Rachel Lowe, creator of the Destination board games (see page 18); and Rory Fisher, BAE System’s managing director maritime services.
Centre sails ahead after buoyant year
Port Solent, the leading marina- side leisure and retail destination in Portsmouth (pictured above) has sailed ahead of high street trading performance with its 2012 trading figures. While town centre traders report a disappointing end to 2012 and 2013 began with a host of familiar names going under, Port Solent has seen an increase in year-on-year footfall of almost 3.5%, with visitors enjoying its mix of quality retail, bars, restaurants, cinema and leisure facilities.
Importantly for tenants, last year’s increase in visitor numbers also translated to greater sales with businesses reporting between 3% and 5% uplifts in their profits.
Port Solent’s buoyant year is the latest success in a carefully-
managed turnaround of the site by facilities managers Workman appointed by CBRE Investors.
Centre manager Samantha Golden said: “We’ve worked extremely hard to revive the site’s fortunes and that is really paying off with this latest year’s good news contributing to a two-year total footfall increase of about 8%.“
Recent additions to the site include shoe chain Pavers as well as Cotton Traders, which experienced its busiest ever week at the site in the run-up to Christmas.
Plans are underway for further retail expansion retail with the development of 15 new units under one roof. The Portside Locker project will see a 6,000
sq ft waterfront building change from one large space to 14 smaller individual shops and tea room overlooking the marina.
Meeting the demand from retailers wanting small scale shops, the new retail spaces will vary in size with the largest at 400 sq ft and the smallest at 80 sq ft.
In the April issue of The Business Magazine
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THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – MARCH 2013
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