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University helps drive UK-Japan partnership


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The University of Southampton was represented among the keynote speakers at the launch of the Innovation is GREAT campaign in Tokyo last month. The campaign, aimed at building British prosperity through innovation and creative business partnerships, was launched by HRH The Duke of Cambridge.


Professor Sir Nigel Shadbolt (pictured), chairman and co-founder of the Open Data Institute and professor of artificial intelligence at the University of Southampton, was among the six speakers who shared their experiences of embracing innovation as a driver for product development, business growth and


Shadbolt spoke about how data is changing society. He said: “We live in an age of superabundant information. The Internet and world wide web have been the agents of this revolution. Data science is emerging as an area of competitive advantage for individuals, companies, universities, public and private sector organisations and nation states.


“It is a privilege to be showcasing the UK’s world-leading work in this area. At the Open Data Institute, which I co-founded with Sir Tim Berners-Lee, we are showing how open data published on the web is improving the efficiency of our public services and giving rise to open innovation. While at the University of Southampton our research in web science helps us understand how we can use the web to solve problems beyond any individual or single organisation.“


Tim Hitchens, HM ambassador for Japan, said: “Our campaign will showcase and stimulate UK-Japan business, research and education collaborations that tackle global problems and improve lives through innovation.“


Boost for businesses as costs finally enter deflation


Businesses are seeing overall cost deflation for the first time since 2009, giving companies cheaper input costs to support growth, according to the latest Business Trends report by accountants and business advisers BDO LLP.


As predicted by BDO last year, the Inflation Index descended into deflationary territory in February, falling below 95 to 94.7 – the dividing line which denotes deflation. This drop is primarily due to the huge fall in crude oil prices now feeding through to input prices for many businesses. This is good news for companies, particularly manufacturers, as a reduction in energy prices and other commodities ease pressure on the bottom line.


Steady growth in the economy is expected to continue into mid- 2015, with BDO’s Output Index


edging up from 102.9 to 103.1 this month, well above the 100 mark that represents expansion.


Commenting on the findings Malcolm Thixton, partner at accountancy and business advisory firm BDO LLP in Southampton, said: “Businesses are well placed to take advantage of falling costs, to help them to bed in growth.


“Lower input prices will help entrench the recovery, as consumers gain more spending power. However, the economy still has substantial spare capacity. Spending on infrastructure is one of the most effective ways to push the economy back towards full employment and keep the recovery on track. Government debt is cheaper than it’s ever been, and now, with falling raw material costs, there is a fantastic opportunity for increased public sector investment.“


THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – APRIL 2015


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