News

South East Leads the UK’s Regional Recovery

London and the South East are set to record the country’s fastest annual improvement in economic performance over the next three years.

That’s according to EY’s latest Regional Economic Forecast, measured by Gross Value Added (GVA). It shows that London will grow 3.1% per year between now and 2025, and the South East will grow 2.9%. Both are ahead of the UK average of 2.8%.

A diverse mix of sectors will drive long-term recovery, according to the report, and this is particularly evident in London and the South East.

Flexibility Powers Business Growth and Recovery

This is positive news for businesses operating in these regions, especially given the abundance of support available for local businesses.

One such channel of support comes from, Chamber member, UBC which offers growth support services at The Mille in Brentford. UBC Brentford hosts in excess of 40 small businesses of which some have taken flexible workspace with us since the pandemic started.

Why does flexibility matter? Richard Baker, Managing Partner at EY in the South East, noted in the report: “Greater workplace flexibility and the switch by many businesses to hybrid working could help open up more opportunities.”

One opportunity lies in attracting and retaining talent. Companies that offer flexible work attract people living locally as well as those further afield. It means companies can potentially employ people that live beyond the traditional daily commute, enabling them to bring in people with the best skills rather than those who live the closest.

Hybrid work also offers a more cost-effective way of working with less reliance on fixed office space. Over time this enables companies to reduce costly square footage, and means employees spend less by reducing daily commutes.

However, companies offering hybrid work need a workspace that can accommodate the ebb and flow of people who use the workplace at different times, and this is where flexible workspace agreements are proving their worth.

UBC centres also have onsite coworking space with day passes, enabling clients to utilise overflow space on days when more people use the office than normal. It also allows local homebased entrepreneurs to buy access to coworking on a simple credit system and drop-in as needed.

As the UK and its regions bounce back from the impact of Covid-19, flexibility in all forms - particularly when it comes to ways of working - is essential to help businesses build financial security, create jobs, and strengthen local economies.

Council creates partnership with Barcelona to connect tech hotspots

Hammersmith & Fulham (H&F) Council and Barcelona City Council have announced a new partnership to boost their innovative tech districts.

This international agreement will make it easier for both councils to work together and build on their world-class innovation districts – the White City Innovation District and the 22@ District. Both areas are home to many start-ups and scale-ups. This collaboration will also increase foreign investments, especially those in technology and in strategic sectors such as bio and health, and the jobs that are generated in both cities.

This new alliance will also include partners such as Imperial College London, the London Academy of Music and Dramatic Art (LAMDA), the Royal College of Art, universities located in the city of Barcelona and the 22@ Network association. At the virtual signing agreement, H&F leader Cllr Stephen Cowan, said: “This agreement brings together two powerhouses of the 21st century economy.

“Our industrial strategy is based on partnerships and has already helped to deliver over 6,000 new jobs in the tech, media and medical sectors. So, we’re delighted to now extend such partnerships to likeminded colleagues elsewhere in Europe with whom we have so much in common, including our shared focus in ensuring that all local residents will benefit from inclusive and sustainable economic growth.”

Barcelona’s deputy mayor Jaume Collboni said: “This agreement between two of the leading international innovation ecosystems such as 22@ and the White City Innovation District will allow us to generate new synergies to enhance the exchange and mobility of talent, technology and capital between two sister cities in London and Barcelona.”

Friendly local support to a healthier you

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