The Business Magazine Thames Valley October 2015

news 5

Seminar spotlights Reading – the next 10 years

Reading is the most prosperous area in the UK outside London. The town has beaten major cities such as Manchester, Liverpool, Birmingham and Bristol in a new national table.

To recognise the town’s increasing importance in the country’s GDP, The Business Magazine is staging a key seminar – Reading & the Thames Valley 2025.

The seminar will focus on how the greater Reading area is likely to develop and change over the next 10 years.

With support from property agent Savills, law firm Shoosmiths and office design specialist Morgan Lovell, the seminar will be an illuminating and thought-provoking series of presentations.

The morning event, to be staged at the Madejski Stadium, Reading, on Friday November 27, will be accompanied by articles in both the November and December issues of The Business Magazine spotlighting trends and views on the development of Reading.

The promise of Crossrail; the fate of Heathrow and the rail spur to the airport from Reading; developments on open land south of the M4; the redevelopment of the Reading town-centre area opposite the station; the new Thames Valley

Science Park – all are encouraging signs of growth in the area.

Reading is a magnet for quality occupiers, for key professional firms, entrepreneurial businesses and corporates.

And the prospects for the next five years – with a pro-business government providing stability – appear strong.

The recent prosperity index, based on research by Barclays, pulled together employment rates, average earnings, house price growth, the prevalence of entrepreneurs, academic results, company formations, and even the number of millionaires.

The index scored Reading above Cambridge, Leeds, Cardiff and many more. The irony is that Reading outperformed cities across the UK and yet it is not a city – it is still officially a town.

Presentations at the breakfast seminar will highlight:

• The infrastructure – what’s coming and when – Crossrail, M4 improvements, Heathrow.

• Reading as a place to live and work – what attracts companies to the town.

Manufacturers buck the trend as growth forecast halved

A global list of economic woes – including uncertainty in Europe, China and Greece – is casting a shadow over UK manufacturing. However, manufacturers in the South East appear to be riding out the storm and are so far looking relatively unscathed, according to the latest Q3 Manufacturing Outlook survey from EEF, the manufacturers‘ organisation, and DLA Piper, the global law firm.

A ‘rollercoaster of risks‘ from the rest of the world has led to a deterioration in all of UK manufacturing‘s key indicators and most notably in output and orders, where falling demand at home and abroad is taking its toll. The balance of manufacturers reporting output growth has dropped to its lowest level since Q4 2009 and, at -2%, contrasts sharply with manufacturers‘ expectations.

However, in the South East manufacturers are THE BUSINESS MAGAZINE – THAMES VALLEY – OCTOBER 2015

seeing a substantially better picture. Although Q3 output hasn‘t quite matched up to their expectations, it is still strongly in positive territory with a net 42% of firms seeing an increase. This is far higher than anywhere else in the UK and the good news continues into the three months ahead, with a balance of 29% of the region‘s manufacturers expecting output to increase in Q4.

Across the UK, export orders in particular have suffered, edging down again to hit a six-year low in response to continued problems in Europe over the summer and the slowdown in emerging markets. But here again, the South East‘s manufacturers have a more positive story to tell. On balance, 38% have seen an increase in total orders over the past three months, matched by those predicting the same for Q4 (38%).

Manufacturers‘ employment intentions in the region are also holding up, both in Q3 and looking

forward to Q4. In fact, a very healthy balance of 50% of firms expect to be on the recruitment trail during the final quarter of the year.

The good news continues through to investment, with a balance of 22% of the region‘s manufacturers expecting investment to increase over the next 12 months. This is in sharp contrast to the national picture where manufacturers‘ investment intentions are only just hanging onto positive ground.

Jim Davison, south of England region director at EEF, said: “While UK data has continued to point to solid growth, manufacturers – including many from this region – are having to contend with a rollercoaster of risks from the rest of the world. Unfortunately, in many areas the white-knuckle ride is starting to take its toll, although firms in the South East appear to be going largely unscathed.“

www.businessmag.co.uk

READING THAMES VALLEY

2025 &

• Employment trends – what will recruitment look like in 10 years’ time?

• The future office – how our working environment is changing.

• Development – from the offices and homes under construction close to the new Reading Station to schemes south of the motorway.

• Skills and opportunities – the new Thames Valley Science Park and more.

If you are interested in attending this free seminar, or would like to contribute to upcoming articles, contact Peter Laurie at peter@elcot.co.uk

• Next month: Reading 2025 – focus on the greater Reading area, special report.

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