See the big picture
Despite some stability returning to the political and economic environment, a level of uncertainty persists. That said, I think we could see businesses being a bit braver, trusting in themselves and investing in growth to make the most of the opportunities that present themselves in 2025, rather than waiting for absolute certainty.
Head of Mid-Corporate, Eastern Region, Barclays Corporate Banking
Managing cash flow and keeping costs under control is likely to remain a key challenge this year, particularly with the changes to employers’ national insurance and the minimum wage announced in the autumn Budget. This might be the ‘tipping point’ for some businesses to consider investment in technology to support growth, given its potential to help improve productivity and reduce costs.
Many clients are now taking their first steps with newer digital technologies, such as artificial intelligence. A focus on people, process and data will be key to success. Businesses need to ensure colleagues have the right skills and mindset to embrace technological change. Business leaders need to clearly identify their objectives, opportunities and challenges, and how technology might support new processes to achieve these ambitions.
For any technology solution, the better the data the better the outcome, and particularly so for artificial intelligence, so businesses should focus on this as well. I look forward to seeing how companies across the East of England make the most of the many exciting technological advances over the coming months.
Developing sustainable operations
Feedback from conversations over the past year or so suggests that most clients are aware of the various forces – such as regulatory pressures, customer and employee expectations, or moral imperative – influencing the need to focus on sustainability. I also expect to see more businesses focus more strongly on improving energy efficiencies, recycling, and process optimisation throughout 2025. For those that aren’t aware, our region is home to SaveMoneyCutCarbon, the digital aggregator that provides a marketplace focused on sustainability, offering products and solutions to businesses seeking to reduce their carbon footprint.1
In addition, with Bacton being recognised by the North Sea Transition Authority as having the potential to become a low carbon hydrogen hub2, and several institutions across the region conducting research into areas such as agritech and managing the impact of climate change, I think the East of England is beginning to emerge as a renewable energy and sustainability hub. This could result in increased investment in the East of England over the medium term, along with numerous opportunities for businesses across the supply chain.
Benefitting from infrastructure investment
The new government’s autumn Budget commitment to continue investing in the Sizewell C nuclear power station should also hopefully bring more confidence to the region, given the expected increase in new contracts and job opportunities to support the continuation of the project.
What is perhaps even more encouraging are the government’s plans to deliver East West Rail in full, which would help to connect vital hubs and encourage the development of key infrastructure. Expected to bolster the Oxford-Cambridge economy by £6.7bn a year by 20503, this new route could play a vital role in boosting productivity and economic growth across the region. I look forward to seeing what business opportunities get unlocked over the coming months and years as a result of this.
Our goal is to support businesses as they strive to grow sustainably over the long term. By exploring the big picture – your business objectives, challenges, strengths, aspirations, people and more – we’ll work closely with you to find the right solutions for your needs.
Head of Mid-Corporate, Eastern Region, Barclays Corporate Banking
More than ever, businesses should prioritise cash flow management, to ensure they’re best placed to access growth opportunities as well as weather whatever challenges come their way.
With more economic and political certainty than in recent years, now could be a good time for businesses to act on those investments and initiatives they may have been putting off.
Businesses should be ‘constantly curious’ to stay abreast of the ongoing and rapid developments in digital technology and artificial intelligence that might support growth opportunities, and remain nimble enough to pivot quickly when such opportunities arise.
If you’re looking to unlock growth opportunities to move your business forward, our £22bn Business Prosperity Fund is available through some of our borrowing and refinancing options. See how we could work together to achieve your ambitions and strengthen the UK economy. Subject to normal lending assessment, status and application. Terms and conditions apply.
Keeping fraud front of mind
Fraudsters are as active as ever, impersonating our colleagues and attempting to defraud our clients. To help protect you and your business we have a wealth of resources available. You can view our quarterly fraud webinars and take a look at our other educational resources on our Fraud Protection Hub.
To discuss your business requirements and how Barclays can support you, contact us today.
