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Peterborough Business Economy Update

Information on the Peterborough Business Economy

At a recent HSBC event OP Economic development presented an overview on the Peterborough and UK economy which I thought would be of interest

Element

 Value

UK Position

Number of businesses 20145315
Start ups per 10,00050.418th
Patents per 10,0006.46th
Average weekly wages£48025th
Gross weekly pay£469£520
Number of pupils with 5 GCSE (grades A to C)56.2%126th out of 152 (up from 144th)
No formal qualifications12.1%46th
UK’s largest city without a University
 Greater Peterborough Business Challenges
Availability of skilled workers33.9%
Price pressures from competitors33.9%
Price pressures from customers28.6

UK Economy Positives

  • UK Growth 2.5 – 2.8% 2013 projected 2.3 – 3.0% 2016
  • Inflation 0.3% 2015 projected 1.7% 2016
  • Low oil prices boosting the economy
  • Businesses are investing again
  • Real wages and consumer confidence up
  • Jobless total lowest since 2008 5.6%

UK Economy Risks

  • Productivity low
  • Under employment (1.3 million in part time work who want full time work)
  • Job rich pay poor
  • Consumer led recovery
  • Exporting down 4.5%
  • Challenge of the EU referendum
  • Only Portugal and Greece have lower paid employees

Peterborough Business Economy Update

If you are a Peterborough Business looking to grow  Click here to find out more .   To talk to a marketing and sales professional click here

Peterborough DNA What Makes Peterborough

I recently heard of a project being funded that is called Peterborough DNA. As it sounded really interesting and a subject I am passionate about I thought would check out the blurb on the project.

Note this is copied directly from their website

“The strands of DNA in Peterborough are multi-faceted and intrinsically cross-cutting within themselves, as well as being mutually inter-dependent to deliver greater value. Underpinned by real-time data, the proposal incorporates innovation, skills, our city metabolism and intelligent networks. As well as identifying technological solutions as part of the proposal. Innovation is in the DNA of Peterborough. As home of the UK’s environment capital, we have an unrivaled network of high quality, innovative companies and thought-leading organisations. We are a national and international leader in ground-breaking solutions, from the ‘Peterborough Model’ visualisation tool through to collective energy switching and pioneering system integration”.

Peterborough DNA – my take on it

What is unique about Peterboroughs and DNA from a business perspective. Compared to other cities / areas of the country I think Peterboroughs includes something which inhibits its growth or ability to compete with say Cambridge Business DNA. There is definitely an extra warehousing gene in Peterboroughs, unfortunately it seems that the dominant engineering /  manufacturing gene is becoming dominated by the service gene but as an evolutionary process that’s probably a good thing.
From a retail perspective the dominant gene is definitely the same as every other shopping centre throughout the country. No variation with limited independent retailers able to succeed against the up and coming challenge of online shopping and reducing footfall.
Even so Peterborough must adapt and change if the city and its businesses are to survive and thrive.

Greater Peterborough Business Survey Put Your Views Forward

Are You Confident About the Peterborough Business Future

The Greater Peterborough Business Survey of 2014 only had about 200 responses from companies within the area. Whilst this allows certain assumptions and thoughts to be made if a larger number of companies participated then an improved perspective of business confidence could be gained. I believe the survey  is done in conjunction with Opportunity Peterborough so they may well use any findings to base future economic development activities.

If you are based in the greater Peterborough business area and would like to complete the survey then simply click on the link Greater Peterborough Survey . There are only  ten questions and the survey should take only a few minutes to complete.

The survey questions in this years survey are

  1. Which sector do you currently work in?
  2. How long have you been operating in the Greater Peterborough Area
  3. How many staff do you currently employ?
  4. What is your approximate business turnover per years?
  5. How has your business performed over the last twelve months compared to the previous twelve?
  6. How do you think your business will perform in the next twelve months?
  7. In your business do you expect an increase, decrease or no change over the next twelve months in the following areas?
  8. What do you think are the main obstacles to growth for your business?
  9. What would make the biggest difference to the profitability of your business?
  10. What type of support do you think would have the greatest impact on the productivity of your business?

Greater Peterborough Business Survey

For more information and news on Peterborough Business and to find more information about professional market research companies within the Peterborough area  click here

European Agri Energy Conference 17th & 18th November

This two-day conference will bring together an impressive panel of speakers to showcase the latest research and best practice in energy- from-waste, biomass, biogas and renewable energy solutions for the agricultural and food and drink processing sectors.
The event will include a series of presentations, Q&As and networking opportunities with researchers and industry specialists from Italy and the UK, as well as with companies who are implementing agri-energy solutions on the ground.

European Agri Energy Conference Monday 17th November

9.00 – Coffee and registration
9.30 – Welcome from The Mayor of Peterborough, Cllr David Over
9.40 – Welcome from Cllr Cereste, Leader of Peterborough City Council
10.00 – Institutional greetings from Puglia Elena Gentile MEP, Giovanni Genchi, Director of International Affairs, Puglia Region, Giovanni Granatiero, Manager of Rural Development, Puglia Region, Alberto Casoria, President of Meridaunia LAG
11.00 – Break
11.15 – Presentation of the Inter-territorial co-operation project “Apulian in the World” Meridaunia LAG and Introduction to the themes of the workshop – Renato Pavia, Engineer, Meridaunia LAG
13.00 – Lunch
14.00 – Mike Carter, Cambridgeshire Fens LEADER Programme 2014-2020
14.30 – Professor Massimo Monteleone, University of Foggia via Skype
15.30 – Break
15.45 – Phil Hunt, Rural Energy – Biomass solutions Keith Waldron, Institute for Food Research – Exploiting biomass bi-products
17.00 – Close

European Agri Energy Conference Tuesday 18th November

9.00 – Coffee and registration
9.30 – Welcome
9.45 – Dr Stephen Temple, Copys Green Farm – AD from silage Ypatios Mysiadis, Smart Biosystems Ltd – New efficiencies in AD Lee Dobinson, Local Generation – Commercial AD operations Raffaella Villa, Cranfield Centre for Renewable Energy
11.30 – Break
11.45 – Michele Ruberto, Ruberto Farm Tim French, RES Group – Commercial wind farms
13.00 – Lunch and close

European Agri Energy Conference Places are free but registration is essential.

With presentations from:

  • Cranfield Centre for Renewable Energy
  • Institute for Food Research
  • Rural Energy
  • Cambridgeshire Fens LEADER Programme 2014-2020
  • University of Foggia
  • RES Group
  • Meridaunia LAG
  • Copys Green Farm
  • Smart Biosystems Ltd
  • Local Generation
  • Ruberto Farm.

Reasons why an independent retailer is good

  • Advice – if the owner of the shop is serving there a lot of useful detailed information can be gained about the products.
  • Customer service is likely to be something the businesses complete to the best standard in order to make themselves well known and ensure customers stay loyal with an excellent reputation.

A selection of Independent Retailers Peterborough

  • Advance performance are based in Fengate and are an award winning specialists in running and triathlon.
  • Art in the Heart sells artist work from within a 20 mile radius of Peterborough
  • Barista provides a great venue for you to enjoy Italian freshly made food which can also be pre ordered.
  • Brewery Tap is an award winning Thai restaurant and also sells award winning oakham ales
  • Burghley an experienced award winning business which offers hair, beauty and academy.
  • Charles Bright has been a leading independent jewelers in Peterborough since 1920.
  • Charters is a beer garden situated on the River buy ultram cheap Nene selling real ale and has an Asian restaurant on the top deck.
  • Designer Leathers selling quality leather coats, jackets, handbags and accessories.
  • East brings true taste of orient located about Charters on the River Nene.
  • El Shoe is a shoe boutique that imports all stock from Spain and Portugal and some being home-made offering Men’s, Woman’s and Children’s shoes along with woman’s handbags and purses.
  • Janson Hung are there to make home cooking easier for oriental dishes.
  • Melanie Richards is a hairdressers that will look after your hair for what you want and what is needed.
  • Reba Boutique is a quirky lifestyle boutique offering jewellery, accessories, clothes, cards and gifts with an individual slant to them located in the centre of Peterborough.
  • Style Boutique is inspired by a boutique in the South of France, offering affordable designer jewellery as well as other products.

Independent Retailers Peterborough

For more details about independent retailers Peterborough or other business information click here For information about marketing help available to independent retailers Peterborough contact Andrew Goode

Indie Retailers Peterborough As Part Of the National Picture

Some background on British retail based on Independent retailers survey results from British Independent Retailers Association (BIRA)

  1. A quarter (24%) of consumers (so these are the people who are going out with a view to purchase) visit at least one of Britain’s 148,000 local retailers every week.
  2. Almost a third (31%) of people (I think they really mean consumers at this point as it is people who are going to shop)  who shop at larger, competitor chain stores(so thi will be the national multiples some examples of which are common household names
    1. So for example in the supermarket sector Sainsburys, Tesco, Asda, Morrisons and the Co-Op
    2. In clothing Primark, TK Max, Next Top Shop, Superdry etc
    3. In pharmacy Boots and Superdrug
    4. In female accessories Claires and Accessorize
    5. In cosmetics Lush and Body Shop etc etc
  3. Now the major finding is that consumers / people do so simply because they do not know of any independent alternatives in their area so this will be a key driver of the new initiative
  4. The majority of consumers, surveyed in the British Independent Retailers Association survey (Fifty Three percent 53%), think independent retailers are more expensive. This strikes me as a very important element to be critiqued / evaluated further. Standard economic thinking would lead one to think that a major buying chain can purchase at a lower unit cost and should therefore be able to offer a lower price to the end user but is this the case in Peterborough
  5. Over sixty percent (Two thirds) of the UK’s independent retailers have not seen any growth in the past 12 months – now this does need to be taken in context as the period of recession has led to a period of zero growth
  6. The figures show sixteen percent of these retailers fear they may go out of business in 2013 if sales do not improve, which is born out by the independent retailers ceasing trading already this year

Peterborough Independent Retailers A Wealth Of Choice

Peterborough Independent Retailers Reasons To Choose Them

There are many reasons to choose Peterborough Independent Retailers ahead of the national chains. In this brief article I will try and cover the most important factors

  • A small independent retailer should be able to offer the very latest products ranges
    • Unlike national chains that will have too make decisions through buying groups, involving merchandising teams, and set up distribution and logistics schedules an independent retailer can make a decision to list a product and have it on the shelf at the earliest possible opportunity
  • Small independent retailers are typically passionate about the product or service they are selling. This possibly gives them a level of knowledge that is difficult to rival. Many independents are family run businesses who have been trading through two or three generations. The likelihood is that within a shop there could be hundreds of years of expertise, knowledge and advice that is waiting to be tapped into.

The Economic Value Of The Locally Spent Pound

The CLES (Centre for Local Economic Strategies) completed research for FSB (Federation of Small Businesses) about the economic value of a locally spent one pound. The results were fascinating and eye opening, sufficient to convince the majority of people that when they shop locally they are genuinely having a positive impact on their community! Findings showed that for every one pound spent locally around fifty to seventy pence of that money recirculates back into the local economy. For the equivalent one pound spent through on line shopping or in an out of town shopping centre  only five pence makes its way back to the local community.
This information is has a significant impact with local people that their choice of where to make their spend with local independent businesses can have a significant impact on the local economy.

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