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news opinion
A very merry Christmas to all our readers – and of course very best wishes for a successful 2015 ...
As we finish one year and start another, it’s worth reflecting on how far the economy has come in the past 12 months.
A record number of people are now in work. The number of workless households has fallen to record lows.
There’s been a 97% increase in the number of people starting apprenticeships in the South East in the past four years.
Pay is rising – not at the same rate as pre-recession, and still at slightly less than the rate of inflation, but the signs are encouraging.
Interest rates are remaining at record lows and probably won’t rise until at least the spring – after
the General Election? Even when they do go up, the rise is likely to be very small.
And yet, and yet. There are a number of concerns as we party our way into 2015. Global winds will quite likely impact the pace of the UK recovery next year. Europe has still not grasped the extent of the debt crisis; there are deflationary forces in Asia, in countries from China to Thailand; and Russia is gearing up for an economic cold war against the West.
Should any of that worry us as we watch the New Year fireworks? Maybe a little.
What should worry us more is the fact that some businesses will adopt a “wait and see“ policy in Q1 2015 – waiting to see what the General Election will bring before making important decisions.
That would slow our growth next year and be completely counter-productive ...
David Murray Publisher
Reading: Prime tech location
Reading is the prime location for technology in the UK, according to a report by KPMG, with the proportion of tech businesses in Reading being three times the national average.
The Tech Monitor report said that technology companies tended to cluster around the M4 corridor – from Hounslow through Slough, Bracknell and Wokingham – all of which boast more than twice the national proportion of tech businesses.
The sector was expanding at its fastest rate since 2007, according to the report. Tech companies had outperformed all UK industry sectors in terms of both business activity and new business growth during 2014.
Benign economic conditions, improving access to funding and greater business spending were all highlighted by respondents as the key factors boosting activity during the third quarter of 2014.
The report cautioned that momentum slowed in the third quarter of the year. The Index showed, for example, that business activity scored 55.6 in Q3, compared with last quarter’s score of 59.7.
Employment prospects in tech continued to improve with the employment index rising from 52.3 in the second quarter to 54.5 in the third. Organisations were also hiring more with 62% of firms saying they anticipated a rise in business activity over the year ahead, while only 8% forecasted a decline.
Tudor Aw, technology sector head at KPMG, said that despite slower growth during the last quarter, the overall picture was upbeat for the tech sector.
“Indeed, the survey signals the highest confidence among UK tech companies compared to the UK average since our records began in 2003,” he said.
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E.indd 1 THE BUSINESS MAGAZINE – THAMES VALLEY – DECEMBER14/JANUARY15 12/11/2013 16:12
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