roundtable: investment 59


'Exit Heathrow, turn left, and enjoy being successful in the Thames Valley . . .'


Reading-based law firm Pitmans and The Business Magazine gathered sector experts to discover if international companies, investors and entrepreneurs still see the Thames Valley as a prime place in which to settle down and do business


Participants


Andy Brattesani: Area commercial director, HSBC


Paul Britton: Head of inward investment, Thames Valley Chamber of Commerce


Richard Devall: Partner, Pitmans


Roger Gregory: Partner, Pitmans


Paul Lewis: Regional director, Thames Valley, SEGRO


Andrew Peddie: Partner, Pitmans


Lined up to debate: our Roundtable team Journalist John Burbedge reports the roundtable highlights


David Murray began by geographically defining the economic hub of The Business Magazine’s ‘Thames Valley’ as “roughly from Banbury in the north, to Basingstoke in the south, Hungerford in the west and Heathrow Airport in the east.” Highlighting the importance of Thames Valley businesses to the UK economy, but suggested an important need for the Thames Valley, faced with growing competition from other regions, “to shout about its advantages to both the companies here and those thinking of locating here, and benefits of turning left out of Heathrow.” Then he asked:


Are we still as attractive


as we think? Paul Britton’s Chamber of Commerce work involves him with many potential inbound companies and investors. “The Thames Valley’s assets have not changed – access to Heathrow, good motorway links, skilled workforce, attractive lifestyle, etc – but there is certainly growing competition, particularly from European locations in Germany and the Netherlands that have upped their game. But, it’s not just Europe, businesses are now also looking at global locations within the emerging markets and countries.”


Inbound companies are now tending to look at smaller initial investments and greater flexibility, Britton revealed.


“Within the UK, despite government political posturing around other regions and initiatives such as Tech City and the Olympic legacy of East London, the Thames Valley still attracts


THE BUSINESS MAGAZINE – THAMES VALLEY – MAY 2013


more first time investment into the UK than any other region except London.”


But, Britton warned against complacency. “To compare ourselves against other regions in the UK is not a fair comparison as to where we should be aspiring to be.”


Paul Lewis stated that cost-effective transportation links – air, road and rail – particularly into London were number one for many of SEGRO’s clients. But he highlighted two other key factors favouring the Thames Valley:


• its talented labour pool with its high proportion of degree level employees


• its high number of successful companies already located here.


“Success does attract success, and you are unlikely to be criticised for choosing to set up a business in the Thames Valley."


Tony Warwick: International trade adviser, UKTI


Ross Wilson: Forum member, Thames Valley Berkshire Local Enterprise Partnership


David Murray: Managing editor and publisher of The Business Magazine, chaired the discussion


Richard Devall


Roger Gregory pointed out that businesses liked the commercial proximity of London but their employees preferred to be based in the lifestyle of the Thames Valley – a double advantage of the region’s location.


Clustering’s OK, but beware complacency


Confirming that proximity to Heathrow was still the major UK draw for inbound investment, Murray asked if established ‘clustering’ in the Thames Valley was now also a key attraction.


“To a certain extent,” answered Ross Wilson.


“The Thames Valley is a very broadly-based, economically vibrant, commercial region. We are so lucky to be living and working here. I have operated businesses here in the Thames Valley since the early1980s. I have experienced three periods of financial uncertainty in the UK during the period, however, many of the businesses in the Thames Valley have returned double-digit growth during these tough times.


“The Thames Valley has excellent channels to market and great supply chains. The larger companies are creating significant employment


Continued overleaf ... www.businessmag.co.uk


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