10.8.2021 | Tax

How East Anglia is well placed for a business bounce back

Nick Marshall, Director at Beatons predicts a boom in business as the pandemic ends.

As the vaccine rollout continues at pace, and cases of coronavirus fall, businesses are now looking at how best to bounce back bigger and better than ever before.

East Anglia is in a strong position to do just that, with a wealth of skills and experience ready to fuel the fightback.

The government is playing its part too, with its Help to Grow scheme, announced in March’s budget, looking to give businesses the tools they need to thrive.

Here, Nick Marshall, Director at Beatons Group, has a look at the scheme, and some of the skills we have in the region set to drive the economic recovery post-COVID-19.

Help to Grow

The government-funded Help to Grow scheme has been designed to hone the skills of small and medium-sized business owners across the country.

Businesses can apply to attend management programmes – 12-week courses – providing them with skills to improve the performance and productivity of their company.

Five universities in the UK have already agreed to host courses, with four more to follow later this month.

Small changes

These small improvements can make a huge difference.

The Office of National Statistics reports that minor changes in management practices can increase productivity by up to 10%.

The Confederation of British Industry has said if the UK boosts the productivity of UK SMEs to match Germany’s, it could increase the economy by up to £100billion.

This shows the crucial role SMEs will play in the UK’s economic recovery following the pandemic and the wealth of expertise we already have.

An abundance of skills

East Anglia is very well placed for the recovery, and its expertise in a range of sectors will be vital to its recovery.

From logistics to IT, legal services to PR, the region is packed with talent – giving support to any businesses looking to flourish in the future.

This expertise gives a backbone of support to firms, helping them realise their goals for the future.

With the wealth of expertise in the region, and the UK Government doing their bit to make the most of these skills, I am confident we will see a boom in business as the pandemic comes to an end.

For more on Beatons Group, visit beatons.co.uk or call 01473 659777