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news opinion
Welcome to growth. You may not have been here before, but you will learn to love it once you know how to handle it….
A managing director related recently how he had only known the downturn years, and wasn’t quite sure how to run a business enjoying spectacular growth.
A senior lawyer told us how he had not known such a spurt in business activity since perhaps five or six years ago.
A recruitment consultancy said the demand for manpower was now “going through the roof“. An accountant said he had never been so busy in over a decade of running his firm.
There is more than enough evidence all around the south to suggest that 2014 is seeing the recovery pick up speed. Demand, which has been pent up for so long, is now starting to fuel a noticeable increase in orders.
The UK is experiencing faster growth than many of its competitors. The jobs growth is rising at its fastest rate in 43 years, and with the economy recording five consecutive quarters of growth, we can all relax now, can’t we?
Actually, no.
A real threat to our recovery is the state of the eurozone. The turnaround has stalled in many parts of Europe: France is in the doldrums, Finland is in recession, Holland is seeing a contraction in the economy, and nations like Spain and Portugal are continuing to be stifled by their debt crisis.
Overall, the eurozone expanded by just 0.2% in the first three months of the year. Those who hate the euro currency might be laughing into their beer, but the fact is we need a strong Europe to aid the UK’s economy.
Europe needs a game plan for growth. Without it, the UK gains of the past few months might be in jeopardy.
David Murray Publisher
www.businessmag.co.uk
Region’s top business leaders collaborate
Around 50 of the region’s top business leaders gathered for the Business South Annual Conference, held at Norton Park, Winchester.
Collaboration was the theme and keynote speaker, financial writer and broadcaster Jasmine Birtles (pictured), illustrated how businesses need to be aware of the changing way the next generation views the world.
She explained young people do not have the same hunger to buy big ticket items but instead are happy to borrow or share: “As much as anything this is down to economics – they can’t afford to buy or run cars, but there is also a feeling they don’t need to. They are happy to share and spend their money in other ways.“
Geoff Glover, former head of HR at Ford Southampton and chairman of the Business South HR Forum, told delegates about the ’baby boomer effect’ which will be hitting every employer in the next five years. “The baby boomer generation born between the 1940s and 60s will soon be having a marked effect on all businesses,“ he said.
“None of the generations that has followed has been as big and it will lead to higher skills’ needs. In the next few years 90,000 engineers will be leaving the labour market and we only have 20,000 coming in.
“In the Enterprise M3 region we will have 345,000 baby boomers leaving the labour market by 2020 and in the Solent LEP region I predict there will be 480,000 baby boomers leaving.
“Businesses need to be asking themselves ’how many baby boomers will be leaving our
employment in the next five years?’ The people agenda during the next five to 10 years will determine how successful your company is going to be. People are our most valuable asset and our most unpredictable.“
A lively panel discussion on the challenges facing education helping to address the skills’ gap included Steve Frampton, principal of Portsmouth College, Professor Les Carr from the University of Southampton and Professor Mike Wilkinson, deputy vice chancellor at Southampton Solent University.
Christopher Edgington, marketing director for P&O Cruises, focused on the fact that each time a cruise ship calls in Southampton it brings an estimated £2.5 million boost to the local economy. “We want to help to ensure some of that comes into your businesses whether as product supply, logistics or the passenger experience.“
Ambitious project to create thousands of jobs
An ambitious development creating thousands of jobs for local people kicked off when Portsmouth City Council began work on a new employment and enterprise park towards the end of last month.
The Council hopes to create 3,500 jobs by developing land on Dunsbury Hill Farm in Havant.
Director of regeneration Kathy Wadsworth said the exciting plans to develop the Council-owned
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land represented a rare opportunity to boost the local economy by creating jobs and generating income for the city.
She said: “We are delighted that work is about to start on such an important scheme.“
Contractors will begin by clearing trees and rehousing some of the protected wildlife on the site in preparation for the road access works which will start later in the year subject to external funding.
In the July/August 2014 issue of The Business Magazine • Pensions • Patent Law • Focus on M27 & Southampton • Corporate Social Responsibility • International Trade
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THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JUNE 2014
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