News

news BCC: interest rate rise “illtimed” as

economic outlook weakens

The British Chambers of Commerce (BCC) has criticised the decision by the Bank of England’s Monetary Policy Committee to raise interest rates.

Interest rates rose for the third time in four months in March as the Bank of England made efforts to ease the cost of living crisis. The most recent increase, from 0.5% to 0.75%, means that rates are now at their highest level for two years.

Suren Thiru, head of economics at the BCC, said: “The decision to raise interest rates, while expected, looks ill-timed against a backdrop of growing domestic and global headwinds, including Russia’s invasion of Ukraine.

While interest rates remain low by historic standards, the latest rise will be viewed by many as a further step in a prolonged period of aggressive monetary tightening at a time when consumers and businesses are struggling under a myriad of rising cost pressures.

Increasing interest rates will do little to curb the global causes behind this inflationary surge and risks intensifying the headwinds facing the UK economy by damaging confidence and deepening the financial squeeze on consumers and businesses.”

The BCC has called on the Chancellor to tackle the escalating cost of doing business by delaying the national insurance rise and introducing a temporary energy price cap for small businesses.

“This would give firms the headroom to keep a lid on prices, protect jobs and make investment that is so vital to sustaining our economic prospects,” said Suren Thiru.

Council funds local schemes to support green economic recovery

A total of £300,000 has been awarded to 18 local businesses for innovative initiatives that support growth and help develop the borough’s green economy.

The money has been made available through Kingston Council’s new Recovery, Adaptation and Innovation Support for Enterprise (RAISE) grant scheme. The funding will support the borough’s post-pandemic economic recovery and help to take action to tackle climate change.

The successful initiatives range from funding staff bicycles and e-bicycles to allow carers to attend calls in a carbon-neutral manner, to saving honeybee trees which otherwise would have faced destruction.

Councillor Andreas Kirsch, leader of Kingston Council, said: “At a time when the impact of the pandemic is still real for many businesses and tackling climate change has taken on an even greater urgency in our lives, the new RAISE grant scheme has been designed to help boost recovery and generate opportunities that will benefit individual businesses and stimulate the growth of our green economy.

“Our local area has never been so important. We’re committed to creating a future that enables economic growth, that’s digital, smart, environmentally friendly and has the infrastructure needed to support living and working locally.” The RAISE grant scheme is part of the council’s drive to create opportunities for businesses of all shapes and sizes to thrive and harness the spirit of innovation across the borough. More than 70 applications were received from across the borough, ranging from early-stage businesses and inventions in development to mature businesses looking to innovate.

Businesses were invited to respond to a range of criteria. These included what they need to do to recover strongly from the past 18 months, how they could adapt to new working conditions and how they could respond to new challenges and opportunities such as tech advances and changing customer needs. They were also asked to consider how they could innovate through new products, services, or fresh thinking to boost performance or resource efficiency.

Creative hub to offer opportunities for entrepreneurs and young people

Exciting plans to turn the basement of the John Lewis Partnership building on Kingston Riverside into a new creative hub and affordable coworking and business support space are taking shape.

The scheme, which will bring new opportunities for the borough’s entrepreneurs and young people, is part of Kingston Council’s heritage-led Transform Kingston programme. The council is working with business development expert Town Square Spaces, local arts charity Creative Youth and the John Lewis Partnership to deliver the space.

One part of the Kingston Riverside space will provide affordable workspaces for local entrepreneurs and start-ups. Town Square will deliver a programme of business support and expert advice sessions to drive entrepreneurship and support business growth. Over the next ten years, this will enable the creation of at least 500 new jobs across the local economy.

Next to this, Creative Youth will manage a creative hub that will inspire young people, emerging artists and the wider community to get involved in the arts. It will be a space for people from different artistic disciplines to learn from each other and showcase their ideas, and will be open to the entire community to enjoy.

The scheme also includes improvements to the public space around the building. In conversations with the community about how the area could be improved, poor lighting and accessibility were highlighted as key issues.

Based on this feedback, new lighting is being installed along the front of the building and at the entrance to the old nightclub to make the area safer and more inviting. The raised brick platform in front of the building is being lowered and planters are being removed to make the area more accessible to everyone. Plug sockets are also being installed to enable the space to be used for public performances.

Kingston’s net zero journey showcased

at Barwell business breakfast

The innovation and ambition underpinning the business drive in Kingston to reach net zero has been highlighted at the latest Barwell Business Breakfast run in partnership with Kingston Chamber of Commerce.

Delegates enjoyed a vegetarian breakfast at unit 50 Barwell Business Park and listened to speakers including event Chair/Chamber CEO, Forbes Low and Aviva Investors/ Barwell Asset Manager, Ken Butcher (pictured).

Ken told the even on 4 March: “Aviva Investors is committed to being net zero by 2040. Clearly it is a substantial task, but at Barwell this includes looking at sustainability credentials when constructing new buildings, making common areas and common paths as sustainable as possible, and also ensuring that, when a building becomes vacant, the refurbishment is done with green and sustainable considerations front of mind. For example, ensuring the EPC [Energy Performance Certificate] is improved. “Other considerations are the capacity to add solar panels to roofs, EV chargers, all-electric heating to offices and LED lighting ideally on sensors, metering, data management and remote access so we understand how much we’re using and how we can manage it.”

“We expect the unit to offer a high specification for a headquarter type unit of about 29,000 sq ft, which we hope will set the standard for future refurbishment of this estate,” Ken explained. “We’re looking at triple glazed windows, superb insulation in the roof and the fact it’s down to structure gives us the

Team and Relationship Building,

Wellbeing and Corporate Events at Kingston Rowing Club

Is your aim to work on team dynamics, boost morale and build closer connections between your colleagues, perhaps more so in these days of home and “hot desk” working? Is your aim to find relationship building projects that feel “miles away” from the stresses and strains of your working desk and boost well being? Or, is your aim to have some (mentally and physically) energetic fun with colleagues or clients?

The great news is that the experienced coaches at Kingston Rowing Club have teamed up to provide top class (and catered) learn to row (full or half) days that are tailored to make sure that your boxes are all ticked when it comes to giving you all you might need from a healthy outdoor team and relationship building event. People rightly say that rowing is the ultimate team sport - the more you operate in sync with other members of your crew, the quicker and smoother the boat moves in the right direction. The perfect metaphor for the way you would like your team and your client relationships to perform! And, of course, it’s great fun too. Kingston Rowing Club (a not for profit community sports club with members ranging from 11 to 80+ and providing subsidised access to rowing for juniors from many of Kingston’s local schools) would be delighted to welcome businesses wishing to invite their staff and/ or clients to a very different kind of relationship building event. Our purpose-built boathouse sits right on the most attractive and calmest part of the River Thames (non-tidal water that’s easier and smoother to row on) and we have a delightful bar and balcony, with sunset views, where end of the day experiences can be swapped and enjoyed.

For further information please follow this link

www.kingstonrc.co.uk/team-building-corporate-events

for more information, discuss your options and pricing.

opportunity to go that much further than you would if you were doing a more standard refurbishment.”

The Economic Recovery Task Force, set up by Kingston Council and drawing on expertise from partners including Kingston University, and Barwell Business Park, is supporting the borough’s green economy.

Kingston Council’s Green Economic Recovery Lead, Ioanna Rossi, said: “What is the call to action for businesses? What is the corporate vision? There are two elements. One is what you can do as businesses to decarbonise and reduce the negative impact on the environment. And the second is what you can do to take this as an opportunity to grow, to innovate, and to be ahead of the game.”

Kingston Council’s Assistant Director of Regeneration & Economic Recovery, Duncan Brown, added: “The council is very committed to tackling the climate emergency. We’re setting ourselves our own target to meet net zero on all operations on our estate by 2030, and then for the borough by 2038. This will be very challenging and that is the challenge for our community and businesses – how we’re going to do that. We really want you to join us in this massive challenge.”

HIGH QUALITY WAREHOUSE/ R & D/INDUSTRIAL UNITS

IMMEDIATELY AVAILABLE TO LET

Unit F

2,336 sq ft*

Electrically operated roller shutter loading door

3 car parking spaces to the front elevation

Open plan warehouse accommodation

Gas and 3 phase electricity supplies Clear height of 3.55m to underside of haunch and 5.48m to apex

Kitchenette area

Male, female and disabled WC facilities

Unit 50

14,136 sq ft

Fully refurbished industrial/ R&D and office property

14,136 sq ft (1,313 sqm) – Gross Internal Area approx

Prestigious reception

Jonathan Hillman barwell@bridgerbell.com M: +44 (0)7713 643904

Passenger Lift

Private courtyard breakout area

Flexible ground floor space with good loading and parking

Two EV charging points Unit 40

3,254 sq ft*

FIRST FLOOR OFFICE

Full height reception lobby

Large open plan area

Raised floor

Robert Bradley-Smith robert.bradley-smith@altusgroup.com M: +44 (0)7469 854799

Break out offices and meeting rooms

Raised floor

Excellent natural light

Good on-site parking

@BarwellBP @barwellbp www.linkedin.com/company/barwell-business-park

*Gross Internal Area Approx