This Week in Business

This week uncertainty over Brexit continued to bite. On Thursday a landmark survey for Britain’s £110bn food and drink industry laid bare the severity of the risks around the future of EU workers. There are two million EU nationals currently working in the UK and their future remains turbulent. 20 per cent are currently employed in the food and drink industry. With such a substantial sector facing uncertainty, businesses are paying close attention.

Driverless Lorries

Finding efficiencies within the logistics network can always help small businesses keep their costs down. This week saw a major step forward with the announcement that driverless trucks are being trailed in the UK. Up to three lorry convoys will soon be tested on Britain’s roads. Paul Maynard, the transport minister, said that the technology could “benefit businesses through cheaper fuel bills” and that “investing in [this] technology will improve people’s lives”. However, Edmund King, President of the AA said the technology “may work on the miles of deserted freeways in Arizona or Nevada but this is not America.”

Brexit and big data

According to a newly published working paper from the government, data will continue to flow between the UK and EU after Brexit. The government wants to see current regulations in place after Brexit to avoid any disruption to businesses. The government says “after leaving the EU, the UK will continue to play a leading global role in the development and promotion of appropriate data protection standards and cross-border data flows.” This is good news for all businesses as any uncertainty over data flows could cause businesses on both sides of the channel to incur high costs and spend time contingency planning.

London property is king

Investment in property and construction projects in London continues at pace despite Brexit uncertainty. Developer Nine Elms Property Ltd has announced a contractor for its landmark Jenga tower. The 50-storey tower will be built by Multiplex and will house 450 new homes close to the South Bank in Vauxhall.

This week also saw the announcement of additional office space in Nine Elms. On top of the 500,000 sq ft already announced, an extra 40,000 sq ft will be made available. This will be space for 500 extra workers in the iconic Battersea Power Station development. The owners are targeting companies looking for co-working opportunities.

Across the Nine Elms site there are amble opportunities for SME’s to provide goods and services from logistical support, to materials, technical skills, design and labour.

If you have any questions or would like further information about the range of support on offer in the Building Legacies Programme, please contact Danny Hackett on info@buildinglegacies.co.uk or call the office on 020 7537 6480.