28 LOOKING AHEAD
Deborah Smith of S&L Planning Consultants, Preston
The discretionary nature of planning permissions can deter investment because the financial risk is so high, even for small developers. The uncertainty around policy direction, particularly in relation to housing, flood risk and climate change is stalling development and preventing developers from committing to new projects.
We have a strange situation where the government is committed to the delivery of new homes on a grand scale but developers need to have a confidence that people are actually in a position to buy. To do this people need to have money in their pockets.
Helen Clayton – managing partner of Blackburn headquartered accountancy firm PM+M.
We will undoubtedly continue to experience rising operational costs, with increases in professional salaries being above inflation and growth in our headcount simply creating a higher cost base. We will recruit into new roles, expanding our skills base and recruiting experience that will enhance our service.
Brian Newell, chief executive of Euxton manufacturer Shackerley Façade Systems
The construction industry remains under pressure due to cost volatility across a wide range of operational areas, including skilled labour, material and planning costs, which is creating a competitive environment for supply chain partners like us.
Steve Murphy, managing director of Burnley video wall experts Ultimate Visual Solutions (UVS)
Uncertainty around what the government will do affects all businesses and the additional costs they could face. This can delay both potential customer spending and increased operational costs for our business.
Graham Blanchard, global sales and marketing director, Fort Vale Engineering, Simonstone
The biggest challenge is the cost of energy across Europe. Producing chemicals
in Europe is just not economically viable so the industry has reduced its capacity and turned to India, China and the US for lower cost imports. The knock-on effect is that chemical transport within Europe has drastically reduced and so has the demand for the equipment that services this industry.
The impact of political events, particularly in Russia and Ukraine, but also in the Middle East, gives us other challenges in terms of supply chain, primarily the disruption to shipping channels.
David Robinson, managing director of Preston headquartered architecture, design and masterplanning practice FWP
Many investors may continue to adopt a ‘wait and see’ approach as the new government develops its policies in key areas.
At present a lot of the development work we see is delivering projects begun during the previous administration as part of their levelling-up and towns fund programmes.
While the housing sector is set to be increasingly busy, with a focus on delivering more homes, there is another massive challenge here to achieve the levels of spending and to deliver the number of dwellings the government is looking at in its targets.
Jeremy Hartley, chief executive of Lancashire headquartered Eric Wright Group
Against the backdrop of continued change in both the political and economic environment, demonstrating project viability is perhaps one of our biggest challenges.
Some of the factors which contribute to this such as inflation and the cost of finance are easing or are at least becoming more predictable, but difficulties remain from extended lead times, availability of funds and appetite to invest. This impacts both our construction and property development activities.
WHERE DO YOU SEE THE OPPORTUNITIES FOR GROWTH IN 2025?
Babs Murphy, North and Western Lancashire Chamber of Commerce
Despite the challenges, 2025 presents distinctive opportunities for growth, particularly in sectors aligned with digital transformation and sustainability.
Businesses that invest in innovative technologies like AI, machine learning, and automation can enhance their operational efficiency and product offerings, catering to an increasingly tech-savvy consumer base. Moreover, the green economy, driven by government initiatives and consumer demand, offers significant growth prospects.
Steph Gemson, TaxGem
Opportunities lie in embracing digital transformation and expanding advisory services. Businesses are increasingly seeking strategic advice beyond traditional compliance, particularly in areas such as tax planning, ESG reporting and business succession planning.
There’s also significant potential in offering sector-specific expertise, especially to Lancashire’s thriving SMEs, manufacturers and tech startups
James Cole, Panache
Our UK business continues to go from strength to strength. However, it’s our US business that has the opportunity for exponential growth in 2025. From a
standing start early this year we have sold over $5m of luxury cruises in the US and forecast over $20m in sales in 2025.
Martin Emmott, Rosebud
There are many business owners that see the challenges as opportunities. For example, establishing a stronger UK supply chain to cut reliance on imports.
People are starting to consider sourcing locally more than they perhaps would have before and we have creative entrepreneurs who are exploring potential growth possibilities in how they might be able to adjust and fill the niche gaps by manufacturing here.
Rupert Gatty, CoolKit
There is potential to improve our productivity and customer offering by harnessing new technologies such as AI, improving our customer journey and the speed in which we can produce and administer an order.
Also, we continue with our policy to innovate in transport refrigeration technology. In 2025 we are distributing a radical new cooling system that eliminates the threat to global warming presented by conventional refrigerating systems.
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