Gloucestershire economy’s rising stars
The first of our Thinkery series looking at the challenges facing Gloucestershire. Ollie Newbold, of Randall & Payne, picks out the county's fast-growing sectors - and those being left behind.
Dear readers,
Something a little different for today’s edition - the first of what will become a series of articles under our Thinkery banner.
We have Ollie Newbold of Randall & Payne to thank for today’s piece.
He kindly agreed to have a look at the small matter of the whole of the Gloucestershire economy, and distil it down into bite-sized chunks to help us better understand how he thought it was faring.
Please do let us know if there is anything you would like us to focus on for future Thinkery articles (my email’s below linked to my name).
We’ve left the comments open for once at the foot of this article for anyone who wants to have their say (usually that’s for members only).
Have a great week.
Very best regards,
Andrew Merrell (editor).
The Thinkery, Part 1: Gloucestershire’s rising stars
In the first of our Thinkery series, which looks at issues and challenges facing Gloucestershire and stories about the county, Ollie of Randall & Payne highlights its fast-growing sectors - and those being left behind.
With the decline of trusted media platforms and many of us with eyes now only for the fast-flowing channels of social media, it can be difficult to work out what is really going on in Gloucestershire.
Our Thinkery series aims to give you a clearer view, from a deeper dive into Gloucestershire through the eyes of experts who work here, to a discussion about issues that matter. And to have your say.
It aims to give voice to Gloucestershire’s business community. We have some roundtables afoot too (here’s our launch article).
Today’s insight comes courtesy of one such expert, Ollie Newbold (pictured above), who was good enough to step up to face the first ball, so to speak.
Newbold is a partner at accountants Randall & Payne, one of the key sponsors that make this operation possible, and he leads the Shurdington-headquartered firm’s corporate finance team.
His specialism is company acquisitions, sales, financing, due diligence and valuations - which gives him a unique insight into the inner workings of Gloucestershire’s economy.
It’s he who provided the following breakdown, and the title for this feature, with The Raikes Journal stepping in only to add this intro and the voices of some of those organisations Newbold mentions (they’re the bits in italics).
“Gloucestershire is evolving into one of the UK’s most dynamic regional economies, driven by flourishing sectors that are outperforming expectations and redefining the county’s strengths,” said Newbold, introducing his thoughts on the county.
“While some industries are capitalising on investment, talent, and strategic positioning, others are struggling to keep pace - challenged by policy changes and skills shortages.”
His conclusion (at the foot of the article) gives plenty of encouragement as well as some key points for the county to work on, if it is to achieve the goal of remaining “one of the UK’s most innovative and resilient regional economies”.
High-Performing Sectors
Cyber-Tech and Security: Gloucestershire’s new powerhouse
Cheltenham is rapidly becoming the UK’s cyber capital, underpinned by the presence of GCHQ and the ambitious Cyber Central development. This sector is thriving due to:
Strategic location: Proximity to GCHQ attracts top-tier cyber-security firms and talent.
Dedicated infrastructure: Developments like Cheltenham’s £1 billion Golden Valley project and Gloucester’s Forum provide state-of-the-art facilities for growing tech businesses.
Robust talent pipelines: Gloucestershire College and the University of Gloucestershire offer cyber-specific apprenticeships and degrees, directly aligned with industry needs.
Halceon: This is a recently launched investment network focused on backing the future of cybersecurity, national resilience, and defence.
Cheltenham’s cyber cluster is an example of public-sector institutions effectively seeding private-sector growth, creating a sustainable and high performing sector with significant export capabilities.
“We have got to a very good place with cyber and IT. Numbers are growing. We do a range of courses including Forensic Computing and Cyber Security (Level 3), Digital Computer Games Design and Development (Level 3), Digital Production Design and Development (Level 3) through to a Cyber Security Degree Apprenticeship (Level 6 - degree level), an MSc (Hons) in Information Technology, as well as a Cyber Security Technical Professional Integrated Degree.”
Mikela Lowthian, apprenticeship manager for cyber and engineering at Gloucestershire College.
“The arrival of Halceon brings a fresh dimension to that offer reinforcing Gloucestershire as a destination where global ambition meets local opportunity.”
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“We created Halceon to channel capital, expertise, and conviction into ventures building solutions to complex global security issues. Our ethos is simple: we’re backing a better future one built on innovation, resilience, and positive impact.”
Melania Edwards, co-founder of Halceon.
“As the cyber ecosystem convenor for Gloucestershire, CyNam is proud to collaborate with Gloucestershire College and the University of Gloucestershire: two institutions making significant, practical contributions to the region’s cyber skills pipeline.
“Gloucestershire College (in partnership with UWE) led the way with the UK’s first NCSC-accredited cyber security degree apprenticeship and continues to embed industry through its on-campus co-working space through Hub8.
“The University of Gloucestershire has invested in the new FuturePark computing facility and launched its Cyber Launchpad, both strengthening its role as a connected university driving innovation and industry engagement.
“Together, they are expanding and diversifying pathways into cyber and digital careers, strengthening the size of the regional talent pipeline for businesses to draw on.”
Hollie Wakefield, CyNam.
Advanced Manufacturing and Green Technology: Innovation at scale
Gloucestershire’s engineering and manufacturing firms, such as GE Aviation, Renishaw, and Moog, are leading innovation in aerospace, precision engineering, and low-carbon technologies.
Research and Development Focus: The region boasts high levels of patent generation and collaboration with Innovate UK on cutting-edge projects.
Sustainable engineering: Companies are increasingly focusing on green solutions, including zero-emission aircraft prototypes like the VX4 and GreenFuels’ battle to combat climate change through the development and distribution of sustainable fuels in 89 countries.
Local skills networks: Gloucestershire’s colleges are providing vital engineering apprenticeships that ensure a steady flow of skilled workers.
This sector’s growth is driven by a combination of innovation, sustainability, and effective collaboration between industry and education.
“Bigger businesses can get 95 per cent funding towards apprenticeships, and only have to pay maybe five per cent towards the costs.
“But so many firms are still not taking advantage of this route. We can help them do so.”
Mikela Lowthian, apprenticeship manager for cyber and engineering at Gloucestershire College.
Artisan Food and Drink: Local brands going national
Craft food and beverage producers, including the rapidly growing Hawkstone Brewery, are capitalising on a surge in demand for locally sourced and authentically branded products.
Celebrity influence: High-profile investors such as Jeremy Clarkson have elevated local brands to national prominence.
Consumer trends: There is growing demand for craft beers, local spirits, and artisanal food that celebrate Gloucestershire’s rural heritage.
These businesses are leveraging the unique appeal of Gloucestershire’s food and rural culture while successfully tapping into national consumer trends.
“Food for Thought CIC was set up to support and help grow Gloucestershire’s food, drink, farming and hospitality sectors, working with everyone from start-ups to national businesses through practical workshops, events and tailored support.”
Nicole Archer, director of Food for Thought CIC, which works closely with Made in Gloucestershire.
Sectors facing challenges
Traditional Agriculture: Temperature rising
A number of factors have led to challenges in this sector.
Post-Brexit pressures: Changes in agricultural support and increased regulatory costs have squeezed margins.
Labour shortages: Recruitment challenges are affecting production capacity.
Climate change: The impact of changing weather conditions is directly impacting yields and feed availability.
To revitalise this sector, there is a pressing need for climate-smart agriculture, diversification and potential changes in policy and investment.
“At Hartpury University and College’s Digital Innovation Farm, we’re helping to futureproof UK agriculture by supporting businesses to trial, develop and adopt cutting-edge agritech. There’s huge potential in this sector but accessing investment remains a challenge for many early-stage firms. That’s why we’re working to connect innovators with research and academics, facilities, and networks they need to turn ideas into impact.”
Neave Anderson, Digital Innovation Farm manager at Hartpury University and Hartpury College.
Renewable Energy Systems: Potential underserved
While Gloucestershire has ambitious green targets, the local workforce lacks the volume of trained specialists in renewable energy installation and retrofitting.
There are some strong operators in the county, and the market seems to be increasingly served by high-growth companies that operate throughout the UK who have already demonstrated their capability in delivering large public-sector contracts.
Unless Gloucestershire businesses are able to harness this high-growth sector, there is a risk of falling behind businesses from outside the county.
Skills gaps: There is a bottleneck in qualified installers for heat pumps, solar panels, and home retrofits.
Slow educational adaptation: Training pathways for green technologies are not expanding quickly enough to meet demand.
A stronger emphasis on green-skills apprenticeships, public-private training partnerships, and curriculum integration is essential to prevent Gloucestershire from missing out on the green economy boom.
“In 2023 we adapted our motor vehicle garage to provide EV training. More recently we built our sustainable construction centre offering evolving green skills courses to meet employer demand, we are now striving to embed green skills in every course, future-proofing our students with the knowledge and abilities to reduce the environmental impact of human activity.”
Andy Bates, chief financial officer, Gloucestershire College.
Conclusion
Gloucestershire is successfully positioning itself as a national leader in cybersecurity, advanced manufacturing and green technology, while also enhancing its reputation in artisan food and tourism.
These sectors are thriving thanks to visionary investment, effective talent development, and a collaborative local ecosystem.
However, parts of the food-processing supply chain, renewable energy installation, and the broader education system require urgent attention if the county is to achieve balanced, sustainable growth.
By addressing these challenges with focused investment, policy alignment, and inclusive training initiatives, Gloucestershire can continue its ascent as one of the UK’s most innovative and resilient regional economies.