We could grow faster than anywhere else in the UK
Gloucestershire and the Western Gateway area are ready to grow faster than and outperform any other part of the UK - if the 'region' can attract its fair share of investment, say experts.
Dear Readers,
We hope you had a great week.
Yesterday we tried to compact everything that was revealed as a recent think-tank gathering staged by QuoLux at Llanthony Priory in Gloucester, and led on perhaps the most eye-catching story from the session - the results of a pilot project by Cotteswold Dairy to see if prisoners could be one of the solutions to its staffing challenges. You can read that here.
And on Monday our decision to point the finger at a certain county building we thought could be described as ‘the most exciting new building in Gloucestershire’ drew plenty of views too.
Today we put before you the key findings of two new reports that describe Gloucestershire, and the Western Gateway area it has pledged to be part of, as a place expected to see more growth than anywhere else in Britain in the next five years. Despite being overlooked again and again for investment!
Just to be sure, we also ask a couple of our business contacts what they think. Do the findings really match what they think is happening in the county?
And we throw in another Top 100 Businesses in Gloucestershire Story, part of our series that tracks the financial fortunes of the county’s biggest firms by turnover. This one’s about family firm Gardner Garages.
There’s even a tasty morsel about a new Greggs coming to Gloucester too!
Have a great weekend.
Please send us your stories/ideas about companies/people/issues you think we should write about. Email andrew.merrell@raikesjournal.co.uk or telephone 07956 926061.
Top 100: Family firm increases turnover to nearly £40 million
The takeover of two more businesses has seen a Gloucestershire-based family-owned retail and fuel forecourt firm increase its turnover by 10 per cent to more than £38 million. Multi-million pound investments in two more forecourts saw the family-owned Gardner Garages grow both its turnover and staff numbers during its last financial year. The firm, which has its registered office at its landmark service station in the middle of Landsown Road, Cheltenham, has revealed turnover grew 10 per cent in its last financial year. Read more here.
🥧 🥪 🍰 ☕ Colliers, the commercial property firm that manages the likes of Gloucester’s Eastgate Shopping Centre, King’s Walk, Kings Square and St Oswalds Retail Park has confirmed popular bakery Greggs is planning to move onto the latter site. Jason Robinson, senior destination manager for Colliers, said: “Greggs is one of the most popular food outlets in the UK and we’re thrilled they’re soon going to be joining us at St Oswalds, adding to the already fantastic food offering available to shoppers and local residents.” It is understood Greggs has already applied to Gloucester City Council to put up signs at the former Nat West Bank in Gavel Way, which would place it next door to Subway. No opening date has been released.
They’ve done it again! Two senior partners and a key department at Willans LLP solicitors have been once more recognised by leading independent legal guide, Chambers High Net Worth guide. Simon Cook and Paul Gordon were named as “go-to” professional advisors. Cook, a partner and head of the Cheltenham firm’s wills, trusts and probate team, has featured in every edition of the guide since it was first published in 2016, while Gordon, a partner and head of litigation and dispute resolution, has been ranked for the sixth consecutive year. The wills, trusts and probate team was also recognised for its services in private wealth law and described as a “strong team that has depth at every level of seniority” with “excellent knowledge… and a broad range of skills”. Bridget Redmond, the firm’s managing partner, said: “I’m incredibly proud of the level of service both they and their teams continue to provide year-on-year. Being named in this prestigious guide for almost a decade is an outstanding achievement for a firm of our size and reflects the quality and calibre of Willans lawyers.”
* Everything you read on The Raikes Journal is made possible by our incredible Founding Partners: QuoLux, Willans LLP, Gloucestershire College, Merrell People and Randall & Payne, our sponsors Hartpury University and Hartpury College, our Founding Members and wonderful paying subscribers.
If you upgrade to paid, you’ll be able to see past the paywalls on our second and third email editions of the week, that lock all our archive after two weeks and lock our rolling Top 100 Businesses in Gloucestershire series, and you’ll be able to comment on our stories. You’ll be helping make sustainable this community interest company, with its particular focus on businesses, charities and education and training providers. If you think those things are important, if you think how Gloucestershire is presented is important, and if you think journalism is important and you want it to remain the county, clickbait free - original well-written stories, not recycled press releases, able to challenge authority, to hold people to account, and to tell your stories - then please do support us.
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We could grow faster than anywhere else in the UK
Gloucestershire and the Western Gateway area are ready to grow faster than and outperform any other part of the UK over the next five years - if the 'region' can attract its fair share of investment, say experts.
There is a hugely sweet feel to two new high-brow reports into the future economic fortunes of the Western Gateway, proof the region continues to punch above its weight despite being overlooked for vital investment.
Okay, the reports were commissioned by the Government-backed regional body itself, invented and launched in November 2019 to boost local economies through increasing cooperation on both sides of the Severn.
But the reports were also compiled by some pretty heavyweight names, Hardisty Jones Associates & Oxford Economics and accouncy giant EY, and their conclusions are enough to make businesses located in Gloucestershire feel very much like they are in the right place.
What they describe is an area set to grow faster than anywhere else in the UK outside London in the next five years, and which already has an economic value in the region of £129 billion and employs an estimated 2.5 million people - making it one of the most important areas in the UK by output.
What they also show is a region overlooked when it comes to investment, and until it corrects this it will remain shy of an even greater potential.
Sarah Williams-Gardener, the former CEO of FinTech Wales who became chair of the Western Gateway in March this year, said: “We are home to collaborative communities with a strong story to tell when it comes to our potential to deliver for the UK.
“As this report highlights, despite significant underinvestment it is estimated that South Wales and Western England are likely to grow by 1.4 per cent per year between 2024 and 2029, making us the area most likely to grow outside of London over the coming months.”
This has been put down to the area’s skilled work force, world leading industry and high-tech business with strong sectors in cyber, green energy, aerospace, creative and fintech. The area was also noted as being a high exporter, outperforming other parts of the UK, and producing over six per cent of the UK’s total energy capacity.
But the reports also underlined what money backing the Western Gateway have believed for some time – the region is failing to win its share of investment, and could grow even faster if it could only be heard.
In its own words, “the area has been massively underinvested in... with companies in the area are missing out on between £3-9 million in private sector investment per business every year on average when compared to other parts of the UK”.
Which has only bolstered the determination of those at the helm of the organisation to shout even louder.
Interestingly, Williams-Gardener singles out as key catalysts for growth institutions Gloucestershire is blessed with three of - universities.
“Our cross-party group of leaders is ready to work with our colleagues across the nation alongside business and our great universities to become the drivers for our future economy playing our part in helping the UK deliver on its new National Mission for Growth,” she added.
Mick Axtell, chief operating officer at Hartpury University and Hartpury College, said recent analysis estimated that Hartpury’s economic impact was six times its cost base.
“It’s great to see UK universities getting recognition for their economic contribution and hopefully this will lead to greater awareness of the many ways organisations, businesses, charities, and individuals can partner with us to ultimately make our region a great place to live, learn, work, and play.
“Universities like ours have an important responsibility to contribute culturally, socially and economically,” said Axtell, who joined the Gloucestershire institution from the University of Bristol at the end of 2023.
“Here at Hartpury University, our contribution to the local and regional economy comes through research and knowledge exchange partnerships with businesses, providing access to our academic staff, students and facilities, and supporting in areas like bridging digital skills gaps.”
It is positivity echoed by Chris Wills (pictured above), a partner and head of the corporate and commercial team at Willans solicitors in Cheltenham.
“I believe that the region has every reason to endorse the positivity of the report.
“Although businesses are, undoubtedly, facing challenges due to a combination of factors, my experience on the ground is that we have a thriving business community with significant opportunities for growth that can be unlocked by appropriate, targeted investment,” said Wills.
Tim Watkins, the managing partner at Shurdington-headquartered accountants Randall & Payne, said: “The estimate of growth for South Wales and Western England for 2024 to 2029 is encouraging.
“Certainly the sectors mentioned in the report are well represented throughout the area and defence and agriculture should be added to that list.
“What may hold us back is the need for more skilled labour than may be available and in places creaking infrastructure. The new Government is promising more housing which is vital to attracting and keeping people in the region to support all industry and must have infrastructure of all types on the agenda as well to support us all.
“If the Government can play its part and if both the private and public sectors can come together and work for the region there is no reason why the estimate for growth of 1.4 per cent per annum cannot be achieved.
“For us in Gloucestershire the cyber development and the building, at long last, of the A417 missing link give cause for optimism for the future, especially when added to everything else going on in the area.”
The report outlined which sectors it expects the growth to be in, and just how much more could be achieve if it can raise its profile to attracts the eyes of investors to the opportunities here.
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