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Airport expansion set to boost opportunities for local businesses
The expansion of Heathrow airport will open up valuable opportunities for local businesses with regards to commercial property development – enabling businesses near the airport to plan for the future with confidence, following the uncertainty that Brexit left behind.
Matt Clarke, partner at Vail Williams’ Heathrow office, explained: “One of the key outcomes of the announcement for the commercial property market is that a decision has been finally made, which opens the way for businesses to make plans and go forward.
“The commercial property
implications of such a huge, national project range from land values and business rates, to infrastructure and development. But these are big opportunities too which can be very profitable with the right approach.
“The creation and expansion of a Hub airport at Heathrow will link us to our trade partners worldwide and provide new business openings and development opportunities that are available, driven by the local need for more offices and warehousing that will feed into the wider region. 40,000 new jobs will also be created following the expansion, which is huge relief for the region following the ambiguity around
Brexit and its implications with regards to employment.
“In terms of air freight, Heathrow carries more freight exports and imports by value than every other UK airport combined – the expansion of Heathrow will allow the UK to open new markets as it’ll have more capacity for long-haul routes to emerging economies allowing businesses to tap into lucrative, expanding markets worldwide.
“Not only this but the infrastructure advances brought by Heathrow’s expansion will deal with the increase in activity and visitors; improving traffic and rail access and adding power to the area’s economic capacity.
“Current investments in transport Bribery hits 85% for UK managers
operating internationally New research from Henley Business School indicates that over 85% of UK managers are using bribery on a monthly basis when operating in culturally different environments.
The 12-year inquiry, based on intimate conversations with over 900 business leaders, further reveals that 80% of board level executives admit to being aware of the practice.
Professor of governance and leadership at Henley Business School, Andrew Kakabadse, explained: “This project originally began in 2004 as an exercise to help coach and support high-level business individuals
who were struggling with certain aspects and demands of their jobs.
“However, it quickly became apparent that a key obstacle was dealing with everyday fraud, bribery and corruption. In other words, if they didn’t pay-up to achieve their organisation’s objectives, then their competitors certainly would.”
The research team’s work covered managers from Russia, Ireland, China, Georgia, Germany, Finland, Belgium, Sweden, Australia, Pakistan, India, South Africa, Nigeria and Saudi Arabia.
Kakabadse commented: “These THE BUSINESS MAGAZINE – THAMES VALLEY – NOVEMBER 2016
suspect business practices are typically costing organisations 5% of their revenue annually and are often committed by concerned managers, who feel that they have no alternative other than to pull out of the country in question.
“No one condones the idea of bribery including the vast majority of citizens in a particular country. Instead, many concentrate on the so-called ‘corrupt manager’, while bribery is largely a result of inequality and dishonest government.
“So many countries in the world are now deeply corrupt and it is impossible to do business without
Matt Clarke
links such as Crossrail, Western Rail Link and HS2 via Old Oak Common, link Heathrow seamlessly to the Thames Valley and all points west, delivering more convenient journeys for residents, commuters, business and will benefit the whole UK economy.”
vailwilliams.com
accepting local practices. The only alternative is no business.
“Our work shows that leadership decisions and morality are proving more powerful in practice than any governance or regulatory frameworks. The only way to address bribery is to recognise and bring to the surface the reality of what is happening in the world.
“A more concerted effort and partnership between business and government can start changing these deeply undesired practices which destroy public trust in society. This is a situation that has become so serious it is beyond the realm of any one manager or organisation to solve.”
henley.ac.uk businessmag.co.uk 5
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