When hosting the judges for the Enterprising Britain Awards we were asked a similar question which encouraged me to do some investigation. NWES was set up to combat the mass redundancies due to the closure of the Pye TV factory in Lowestoft back in 1982. Its successor Sanyo recently closed so where does Lowestoft stand now compared to then?
Looking at the figures for the last few years one can see how the town has performed in comparison to the region and country.
Economically Active – in employment – all people:
Date Number Waveney East England Great Britain
Mar 06 47400 70.6% 77.7% 74.3%
Sep 08 54000 78.3% 77.6% 74.5%
As you can see Waveney has substantially outperformed both the East of England and Great Britain rising from a laggard to being above the national average for economically active people in employment.
Economically Active – Unemployed – all people
Date Number Waveney East England Great Britain
Jan 06 3800 7.3% 4.6% 5.4%
Sep 08 2900 5.1% 4.3% 5.3%
Source: www.nomisweb.co.uk
There is a similar story with the latest unemployed figures; whilst there will always be seasonal fluctuations due to the nature of the area it can be seen that substantial progress has been made, bringing Waveney to below the national average from a position 35% above it some 33 months before.
The most recent figures for those people on Job Seekers Allowance, whilst showing an increase, demonstrate that our policy of job diversification is sheltering Lowestoft from the worst effects of the recession. In the period from January 2008 to May 2009 (latest figures available) Lowestoft has seen a 41% increase in JSA claimants. However in the same period the East of England has seen a 106% rise and Great Britain an 86% rise.
These are impressive results and whilst full employment is always the goal it shows how a policy of diversification and broadening the business base has paid substantial dividends over the years.
Lowestoft with NWES at the helm is now looking to the future positioning itself as the UK base for the rapidly emerging renewables industry - housed at the £10m NWES managed OrbisEnergy. Check out our website for great pictures from the top floor of the most easterly building in Britain!
Thursday, July 30, 2009
Tuesday, July 21, 2009
I thought that I would post a blog entry by a judge for the "Enterprising Britain" competition who visited us in Lowestoft. As you can see he was impressed by what he saw and we will know how successful we have been at the national awards in October!
Enterprising Britain: A Judge's PerspectiveBy Maurice Helfgott, Founder of Amery Capital Ltd.Published Monday, 20 July, 2009 - 18:53
As founder of investment and advisory firm, Amery Capital , whose investments include Long Tall Sally, I was appointed a judge in this year’s Enterprising Britain competition has been a fantastic experience.
I have now completed both of my judging visits and each has highlighted how passion and dedication can transform lives and communities. It is great to see projects demonstrating how working in partnership can create new and exciting opportunities.
Each year, Enterprising Britain seeks out the most enterprising place in the UK, somewhere which has improved the local climate for business by creating opportunities for residents to be enterprising.
In these tough economic times, the dedication and vision of the people involved in these projects is a real inspiration. Entrepreneurship is key to our journey out of the recession and will be crucial in building a strong economy for the future.
The project I visited in the South West is run by The University of Plymouth, which is taking a leading role in the area’s social, economic and cultural development. It is fully engaged and working in partnership with a variety of organisations and agencies across the city to ensure the programmes developed are based on real need and are complimentary to partner activity. The university has developed a wide range of projects targeted to create an impact and raise levels of aspiration and quality of life.
Particularly interesting in Plymouth was a groundbreaking new partnership between the university and the Royal Government of Bahrain. It is a great example of private sector investment in the project and signals the creation of exciting international links and potential investment in Plymouth’s science and technology sectors. It is anticipated that the partnership will significantly boost the city’s financial and knowledge economies and its promotion of the vast opportunities available is definitely something I think others can learn from.
In the East of England NWES, a local enterprise agency in Lowestoft, was set up to reduce disadvantage by encouraging enterprising activity and self employment. Concentrating predominantly on people who are long term unemployed and facing barriers to work, its aim is to increase the number of business start-ups within the town by offering support, training, mentoring and provision of finance and flexible workspace.
The jewel in the crown in Lowestoft is the newly opened OrbisEnergy centre – an £8.7million investment designed to capitalise on the renewable energy sector. Amongst many other projects, the organisation gave £3million of its own money to fund the Lowestoft Enterprise Park, transforming a derelict industrial area into a thriving community of small businesses. NWES is about finding ways to give real benefits to both individuals and the community so that it is no longer dependant on just a few major employers, but offers a range of employment opportunities throughout the area.
Both projects I visited have successfully created jobs, reduced unemployment and attracted inward investment. The knowledge and experience they have will prove a vital aid for stimulating economic recovery and I wish them the best of luck in the competition.
NWES is proud to be the Eastern area representative in this years competition and are happy to share our experience with any other "enterprising place".
Enterprising Britain: A Judge's PerspectiveBy Maurice Helfgott, Founder of Amery Capital Ltd.Published Monday, 20 July, 2009 - 18:53
As founder of investment and advisory firm, Amery Capital , whose investments include Long Tall Sally, I was appointed a judge in this year’s Enterprising Britain competition has been a fantastic experience.
I have now completed both of my judging visits and each has highlighted how passion and dedication can transform lives and communities. It is great to see projects demonstrating how working in partnership can create new and exciting opportunities.
Each year, Enterprising Britain seeks out the most enterprising place in the UK, somewhere which has improved the local climate for business by creating opportunities for residents to be enterprising.
In these tough economic times, the dedication and vision of the people involved in these projects is a real inspiration. Entrepreneurship is key to our journey out of the recession and will be crucial in building a strong economy for the future.
The project I visited in the South West is run by The University of Plymouth, which is taking a leading role in the area’s social, economic and cultural development. It is fully engaged and working in partnership with a variety of organisations and agencies across the city to ensure the programmes developed are based on real need and are complimentary to partner activity. The university has developed a wide range of projects targeted to create an impact and raise levels of aspiration and quality of life.
Particularly interesting in Plymouth was a groundbreaking new partnership between the university and the Royal Government of Bahrain. It is a great example of private sector investment in the project and signals the creation of exciting international links and potential investment in Plymouth’s science and technology sectors. It is anticipated that the partnership will significantly boost the city’s financial and knowledge economies and its promotion of the vast opportunities available is definitely something I think others can learn from.
In the East of England NWES, a local enterprise agency in Lowestoft, was set up to reduce disadvantage by encouraging enterprising activity and self employment. Concentrating predominantly on people who are long term unemployed and facing barriers to work, its aim is to increase the number of business start-ups within the town by offering support, training, mentoring and provision of finance and flexible workspace.
The jewel in the crown in Lowestoft is the newly opened OrbisEnergy centre – an £8.7million investment designed to capitalise on the renewable energy sector. Amongst many other projects, the organisation gave £3million of its own money to fund the Lowestoft Enterprise Park, transforming a derelict industrial area into a thriving community of small businesses. NWES is about finding ways to give real benefits to both individuals and the community so that it is no longer dependant on just a few major employers, but offers a range of employment opportunities throughout the area.
Both projects I visited have successfully created jobs, reduced unemployment and attracted inward investment. The knowledge and experience they have will prove a vital aid for stimulating economic recovery and I wish them the best of luck in the competition.
NWES is proud to be the Eastern area representative in this years competition and are happy to share our experience with any other "enterprising place".
Wednesday, July 8, 2009
Who bears the brunt of the recession?
Over the last few weeks there appear to be an increased level in the number of stories about the private sector bearing the brunt of the recession whilst the public sector sails on regardless. It is an interesting concept and one which deserves significant time expended on it by the very best political brains for the good of the country.
Is it true? Looking at the facts it is clear that the cuts in jobs and expenditure is falling almost entirely on the private sector. Public sector employment has risen sharply over the last 10 years and shows little sign of contracting whilst the rise in unemployment can be attributed to private sector cutbacks. In general though it is fair to point out that the public sector often lags behind the private sector as it is difficult to implement change and is subject to political influence rather than economic reality.
We are entering a different climate, one which many people are too young to remember -austerity. The post war mentality of save, mend and make do lasted with us until the early 1980's and then an era of spending has changed the way that we live. I still live by a mantra that if I cannot buy it with my own money then I do not buy it. It may be out of favour as a philosophy and yet I have no money worries and live within my means! In corporate life however we need to learn the value of money once again. Political spin where all spending is "investment" needs to be stopped. Capital programmes are investment but current spending is exactly that - spending.
If we do not cut public expenditure sharply then we will return to an era more akin to "Life on Mars" with record unemployment, industrial unrest and appalling public services. We hear that cuts in public spending means a cut in services. This is untrue. Looking at productivity levels in the public and private sector over recent years we see a gap of about 20% - indeed in recent years public sector productivity has fallen!
The cuts do not need to be across the whole spectrum but the increase in productivity does. Thus if a department such as Health is protected from cuts then that is in return for an increase in productivity. In this department alone the waste is enormous and simple business techniques could save billions of pounds which could result in more being done for the sick and vulnerable.
I would like to see ALL public authorities conducting an exercise whereby every service is investigated and is contracted out to the private, social or voluntary sector unless it can be proven that to do so would be more expensive or result in a worse service. Waste would soon be stripped out, creativity and dynamism would result and I believe that we would get a better service for a lower cost. Eventually this would lead to more jobs, lower taxes and an improved social structure.
So will this happen? Maybe, but slowly, as it appears that politicians believe that to articulate this would lose votes. I am not sure that is true but we need a strong leader prepared to do the right thing rather than the vote winning appeasement.
Is it true? Looking at the facts it is clear that the cuts in jobs and expenditure is falling almost entirely on the private sector. Public sector employment has risen sharply over the last 10 years and shows little sign of contracting whilst the rise in unemployment can be attributed to private sector cutbacks. In general though it is fair to point out that the public sector often lags behind the private sector as it is difficult to implement change and is subject to political influence rather than economic reality.
We are entering a different climate, one which many people are too young to remember -austerity. The post war mentality of save, mend and make do lasted with us until the early 1980's and then an era of spending has changed the way that we live. I still live by a mantra that if I cannot buy it with my own money then I do not buy it. It may be out of favour as a philosophy and yet I have no money worries and live within my means! In corporate life however we need to learn the value of money once again. Political spin where all spending is "investment" needs to be stopped. Capital programmes are investment but current spending is exactly that - spending.
If we do not cut public expenditure sharply then we will return to an era more akin to "Life on Mars" with record unemployment, industrial unrest and appalling public services. We hear that cuts in public spending means a cut in services. This is untrue. Looking at productivity levels in the public and private sector over recent years we see a gap of about 20% - indeed in recent years public sector productivity has fallen!
The cuts do not need to be across the whole spectrum but the increase in productivity does. Thus if a department such as Health is protected from cuts then that is in return for an increase in productivity. In this department alone the waste is enormous and simple business techniques could save billions of pounds which could result in more being done for the sick and vulnerable.
I would like to see ALL public authorities conducting an exercise whereby every service is investigated and is contracted out to the private, social or voluntary sector unless it can be proven that to do so would be more expensive or result in a worse service. Waste would soon be stripped out, creativity and dynamism would result and I believe that we would get a better service for a lower cost. Eventually this would lead to more jobs, lower taxes and an improved social structure.
So will this happen? Maybe, but slowly, as it appears that politicians believe that to articulate this would lose votes. I am not sure that is true but we need a strong leader prepared to do the right thing rather than the vote winning appeasement.
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