T he majority (64 per cent) of Barometer respondents believe Oxford has the potential to overtake

Cambridge as a global centre for high-tech businesses.

Almost three-quarters (74 per cent) felt their business would benefit in some way from Oxfordshire’s growing reputation for high-tech excellence.

Professor Peter Dobson OBE, Academic Director at Begbroke Science Park, agrees. So much so that he has thrown his hat into the ring and offered to lead the march on Cambridge.

“There is no doubt in my mind that Oxford has the potential to overtake Cambridge as a global centre of excellence for high technology businesses,” Professor Dobson said.

“We have better aligned graduate courses to train our students; Oxford is home to Isis Innovation — one of the best technology transfer offices in the world; Begbroke Science Park is truly supportive and different from anything Cambridge has to offer; we also have Harwell, Culham and Milton Park on our doorstep and the best, world-class research and teaching hospitals.

“However, Cambridge has been far better than Oxford at hyping and promoting its achievements, not just in the university but in the wider ‘ eco-system’ academics have developed around it.

“Technology translation culture in Cambridge evolved in a very different way to ours. Until recently, Cambridge did not have a centralised organisation like Isis Innovation here in Oxford,” Professor Dobson added.

“Instead, academics in Cambridge owned their IP and from it grew science parks and R&D consultancies, such as Scientific Generics (now Sagentia) and TTP.

“Many medium-sized companies bought into this activity and relocated to the area.

“In Oxford, we do not yet have the same level of R&D consultancies as they do in Cambridge and this has, to a certain degree, held us back. I also believe we have been

slower to realise the importance of innovation within our own university activities,” Professor Dobson said.

“Cambridge has an engineering department that is three times the size of ours and very much aligned to the needs of industry.

“They also have innovation champions who have the ear of their university’s vice-chancellor and Government ministers.

“With the right leadership and vision, I believe Oxford has what it takes to win the race to the top.”

• Professor Dobson is a lecturer on Innovation and Entrepreneurship at Oxford and Cambridge universities.

www.withyking.co.uk •01865 792300

Life in the fast lane

Issue 8

• Your views on the City Deal• Transport should be top priority• Skills shortages are biggest barrier to growth • Property solutions for smaller businesses

INSIDE THIS ISSUE

Professor Peter Dobson, Academic Director, Begbroke Science Park

OxfORD HAS THE POTEnTIAl TO OvERTAkE CAMBRIDGE

in association with

Cambridge has had its own way for too long. It is high time that there was some genuine competition for the ‘Other Place’ in terms of producing

the type of high-tech businesses that make it a global centre for innovation. And where better than its traditional rival Oxford?

now, leading academic Professor Peter Dobson has picked up the gauntlet and thrown his weight behind a drive to help Oxfordshire overtake Cambridge in the not too distant future.

Professor Dobson is in an excellent position to judge, as he is a lecturer in innovation and entrepreneurship at both universities.

Undoubtedly Cambridge has had a significant head start, but Oxford is gaining ground fast.

Just look at the speed in which new firms are spinning out of Oxford University and commercialising their expertise.

look at some of the examples from the recent Isis Innovation showcase featured elsewhere in this magazine.

These are the potential high-growth companies of the future that will propel us to greater heights.

But the Oxfordshire Business Barometer, which today marks its second anniversary and unveils a new sponsor in the local Enterprise Partnership, also shows that without decent infrastructure, particularly transport, then the challenge could be all the greater.

For years the A34 and A40 have hampered growth. Unlike Cambridge, Oxfordshire has an excellent central location with potentially great links from north to south and across to the west.

The only place that is not easily accessible is Cambridge!

Seriously, much needs to be done or we will have shot ourselves in the foot.

Oxfordshire has achieved a lot in a relatively short space of time and the Government is playing its part by finally realising the county’s potential, particularly in the fields of science and innovation, for example with the location of the European Space Agency’s new European headquarters at Harwell.

But we do not want all the hard work to wither on the vine as a result of a gridlocked road system.

Whitehall needs to realise that once we get that right then the potential is limitless.

The message is clear: Watch out Cambridge, we are coming up in the ‘fast lane.’

Andrew Smith, Business Editor

Nigel Tipple (pictured) has recently been appointed Chief Executive at Oxfordshire Local Enterprise

Partnership (LEP). Here he explains why the City Deal is a ‘once in a lifetime’ opportunity to take stock of Oxfordshire’s strengths, to rethink our economic

direction and to lay down a plan to ensure our future economic prosperity

Issue 8www.oxfordshirelep.org.uk • 01865 815866

“As one of a group of successful cities that made it through a tough bidding process, Oxford and Oxfordshire now look forward to having a much greater say in how our future is shaped, and

crucially, how we make best use of the finance needed to make it happen.

“So it is very encouraging to see that the companies and organisations that have taken part in this quarter’s Barometer are in favour of the priorities currently being sketched out as critical in bringing the City Deal to life.

“At the heart of the City Deal are Oxfordshire’s research and development institutions, our specialist high value industries and our advanced manufacturing businesses. These are world class and in many cases unrivalled. They form the basis of our unique knowledge economy and are a vital component

and asset to the UK economy as a whole.

“City Deal plans aim to harness and build on this formidable capability and expertise to make Oxfordshire a global centre for high value and high tech business — an ambition which companies that completed our survey overwhelmingly agree with.

“However to turn this into reality, we need to strengthen links between universities, institutions and businesses, to equip future and existing employees with the skills and training they need and critically to put in place the premises, roads, rail, broadband and facilities that will enable our local economy and its communities to function properly and effectively.

“Those that completed this survey realise that these issues are all as important as each other, but most important to companies at the present time is the need to improve our roads and our public transport.

“The City Deal will contain detailed plans to tackle road congestion and the need for a better public transport network. It will put forward comprehensive plans to help remove the barriers that Oxfordshire companies tell us are holding back their businesses and provide the long term solutions that we as a county need to build an economy that is robust and fit for purpose for many years to come.”

SpOTlIgHT On OxfOrD AnD OxfOrDSHIre CITy DeAl

A ‘once in a lifetime opportunity’

CITY DEAL — THE VISION• Grow the county’s knowledge-based economy, which incorporates high-technology and science businesses• Develop a more highly-skilled workforce• Improve the county’s transport infrastructure• Create more housing• Strengthen links between colleges, universities and businesses.

nICOlA Blackwood, Mp for Oxford West and Abingdon (pictured) writes: “Oxfordshire has the potential to be a national powerhouse for the science and knowledge-based economy.

“To realise this vision though, Oxford needs to be better connected with the rest of the country and we know that businesses across the city region are significantly affected by congestion on the A34. Crucially, investment in the A34 and A40 will enable business to be more productive and plan with certainty for the future.

The Government’s announcement of £10m investment in the A34 Milton Interchange is a start, promising better access to the enterprise Zone and supporting local job creation, but if Oxfordshire is to realise its full potential, further investment through the City Deal and other opportunities will need to follow.

“That is why it is vital government has identified Oxfordshire as a national economic

asset, and that Ministers are strongly investing in both science and infrastructure over the long term. Ultimately, any investment in infrastructure will have a knock on effect on the other four elements of the lep’s vision and create an environment in which our businesses can thrive.”

Oxfordshire as a national economic asset

The majority (37 per cent) of people who responded to the latest Oxfordshire Business Barometer felt all the key elements of the vision for Oxford and Oxfordshire’s City Deal were important.

Issue 8

We want to hear your views. The Oxfordshire Business Barometer is a survey designed to provide an insight into how the region’s businesses are faring and to hear decision-makers’ thoughts on our quarterly special focus topic. The results are published here in In Business and online, and interested parties are encouraged to contribute to the write-up.

There are prize incentives, opportunities for publicity and online activities. To get involved, please email barometer@withyking.co.uk or visit our LinkedIn group entitled Oxfordshire Business Barometer.

How to get involved in tHe Business Barometer

www.oxfordshirelep.org.uk • 01865 815866

It is clear from the latest Barometer survey that businesses feel strongly about the need for a better transport infrastructure to improve the connections between Oxford and the rest of the county – and they would like to see this prioritised in the City Deal. Almost one-fifth (18 per cent) of respondents to the Barometer

survey said that improving Oxfordshire’s transport infrastructure should be the number one priority

SpOTLIghT On OxfOrd and OxfOrdShIre CITy deaL

Why TranSpOrT ShOULd Be TOp prIOrITy

“We need an environmentally economic transport infrastructure. I’d like to see the Lep and other agencies implementing a comprehensive strategy to increase use of public transport by business travellers, promoting use of energy efficient private and commercial vehicles, developing facilities for safe cycling, frequent and cost-efficient public transport. This will result in a whole host of economic benefits, including lower transport costs for businesses, making the region a better place to live and work, and showcasing Oxfordshire as an innovative region with joined up thinking.” Karen David, Partner, Spriggs David, Oxford.

“Connectivity, both physical and metaphorical, between Oxford city and the rest of Oxfordshire is crucial. It’s about improving the a34 and public transport links, but also encouraging networking and collaboration between the universities, research councils and industry. We need to make the most of Oxfordshire’s strengths in high-tech areas such as space, biosciences, cryogenics and big data.” Megan Morys, Head of Innovation, Harwell Oxford.

“While the Knowledge economy is already Oxfordshire’s primary means to contribute to local and national wealth, we are becoming severely

constrained from attracting the best new inward investment business opportunities, and securing growth for local companies, because of the increasing issues with regard to the transport infrastructure, predominantly roads and public transport. These issues affect both Oxford and key growth centres in Oxfordshire, such as our Oxfordshire Science Vale enterprise Zone.” Dr Martin Dare-Edwards, UK Country Manager, Infineum UK Ltd, Milton Hill

“Oxfordshire is not seen as a major business community but it should be. We need to be careful not to focus on science and high-tech companies to the exclusion of all others.” Jenny Plaister-Ten, Director, 10 Consulting Ltd, Abingdon.

“a high-tech growth and knowledge-based economy must feed into manufacturing products and solutions. The whole growth of the Oxon economy needs job opportunities at all levels, only making and selling things produces real money.” Roger Dyer, Business Process Improvement Practitioner, JEL BPI Ltd, Oxford.

“The high cost of housing impacts on everything from wages to attracting new staff.” Stuart Roper, Partner, Milagro Design Consultancy, Wantage

Karen David

Megan Morys

Dr Martin Dare-Edwards

Jenny Plaister-Ten

Roger Dyer

Stuart Roper

Issue 8www.withyking.co.uk •01865 792300

From 1,000 CVs received in the last 12 months, Oxford PharmaGenesis has made just 30 appointments. “Our business needed at least ten more, but, to put it bluntly,

there just were not enough people with the right core skills,” said Dr Shelton.

Oxford PharmaGenesis welcomes moves by the LEP and other agencies to address Oxfordshire’s skills shortages as part of the City Deal initiative.

Dr Shelton believes, however, that the fundamental issue lies with the way children are taught in schools.

“Unless we invest in educating our young people to a high standard, the problem is only going to get worse. In my view, many children are no longer taught enough basic skills to think, write and speak effectively,” he said.

“Many also seem to be poor at checking their work for errors. Science graduates are pouring out of our colleges and universities with specialist knowledge and qualifications, but I’ve seen a steady deterioration in communication skills over the last two decades.

“With no Empire, no army and no money, all we have left is our wits. Let’s make sure we can make the most of them!”

Oxford PharmaGenesis is not alone. Half of all Business Barometer respondents admitted they had experienced difficulties in attracting people with the right skills over the last 12 months.

Almost one-third of businesses which took part in Barometer said they planned to recruit in the months ahead.

A lack of locally-based staff with the right skills may slow and even stifle their plans to grow.

This reflects an ongoing, UK-wide trend highlighted by Mark Beatson, Chief Economist at the Chartered Institute of Personnel and

Development (CIPD), when he commented on the Labour Market Statistics released by the Office for National Statistics (ONS) in June.

He said: “Businesses tell us they have been struggling to find the right people with the right skills even when the labour market has been at its most sluggish.

“A stronger labour market suggests that the competition for talent that never went away entirely may be about to increase in intensity once again.

“Employers who want to steal a march on their competitors will need to be thinking hard about how they attract, retain and develop their workforces.

“With plenty of room for productivity growth, investment in skills and engagement may be a more profitable and sustainable strategy for attracting and retaining the best people than simply increasing pay.”

Mark Emery, Head of Employment at Withy King in Oxford, agreed: “Both the Oxfordshire Business Barometer and Nationwide Business surveys tell the same story: Businesses find it increasingly difficult to recruit the right talent for their businesses.

“Many believe today’s problems can be blamed

on the way children are taught in schools — and the situation appears to be getting worse.

“The Government has just relaxed rules which mean that primary age children can be taught in classes of over 30 pupils for several years. How will this assist young learners to develop the skills businesses need?

“There are some fantastic local initiatives in Oxfordshire such as O2i, which involves business leaders going into schools as business advisors and mentors. These mentors can and do inspire young learners to understand what they need to succeed in specialist industries.

“However, these initiatives can only do so much,” Mr Emery said.

“While the Government’s commitment to improving basic standards is to be applauded, it is likely that our business competitiveness will continue to be hampered by an education system that was designed for an age in which most school leavers went to work in large industrial unskilled or semi-skilled roles.

“What businesses need are adaptable, motivated employees with good interpersonal, technical, and communication skills; as a society we need to ensure that our education system is geared to this; the cost may be high, but the cost of not doing so will be far greater,” Mr Emery added.

SKILLS SHORTAGES STIFLE BUSINESS GROWTH

Access to skilled staff was cited as the main barrier to growth by the majority (37 per cent) of decision-makers who responded to Withy King’s latest Oxfordshire Business Barometer. The increasing shortage of skilled staff was of

greater concern than access to business finance (21 per cent), affordable housing (21 per cent) or traffic congestion (19 per cent). International HealthScience Communications™ consultancy, Oxford PharmaGenesis, has expanded

rapidly since its launch 16 years ago, growing by 50 per cent in the last two years alone. According to company chairman and founder, Dr Graham Shelton, its future growth is only limited by a lack of skilled recruits.

Increasingly difficult

“Unless we invest in educating our young people to a high standard, the problem is only going to get worse. In my view, many children are no longer taught enough basic skills to think, write and speak effectively.”

Dr Graham Shelton

Mark Emery, Employment Partner, Withy King

Withy King has offices in Oxford, Abingdon and ThameIssue 8

Oxfordshire Council and the LEP are working together to help address the skills shortages and gaps identified in sections of the local economy. There are many initiatives

currently being delivered or in the pipeline. These include:

• Oxfordshire Skills Board has identified the need to increase the employability skills of school leavers as a priority. An Oxfordshire ‘kite mark’ for work experience is in the pipeline.

This will enable young people to receive employer accredited training in the soft skills that businesses say they need, including problem solving, team working, communication and customer awareness; this will form part of their work experience placement and help them to be more work ready

•Seeking greater local influence and control over the £100m funding currently spent by the Government on skills and training in Oxfordshire. This will help ensure that public money is spent on skills that employers need and value, leading to successful and sustainable job outcomes. To do this multiple national funding streams need to be coordinated locally in order to get best value for the area•Oxfordshire has recently launched the UK’s first Higher Apprenticeship in R&D aimed at helping to satisfy demand for more highly skilled staff for our specialised industries•Young people in schools studying science, technology, engineering and maths are being encouraged to take up careers in those areas through a pilot scheme that introduces them to local employers working

in the engineering and science sectors•A drive to increase the numbers undertaking apprenticeships. In Oxfordshire in the 2012-13 academic year, 4,500 people started an apprenticeship — an increase of 24 per cent on 2011•Ground breaking software now in use reveals the sectors and industries with the highest numbers of job vacancies.

This information will be used to help influence the training and courses offered by colleges and other providers•A business and education brokerage service is being planned that will encourage companies to get more involved with schools and build lasting links between the two, helping young people to understand the local economy and spark interest in careers at an early age.

EMPLOYERS URGED TO LOOK FORWARD NOT BACKAN Oxford-based social enterprise believes employers are missing a trick by judging potential employees by their past mistakes.

Rick Mower (pictured left) is Chief Executive of Aspire Oxford, which trains, mentors, supports and finds employment for people who have overcome adversity and got their lives back on track.

They deliver first class, professional facilities management services to local authorities, businesses, academic institutions and individuals.

Mr Mower believes one of the reasons Aspire Oxford has become such a success story is because of the quality of its staff, many of whom have faced huge employment barriers because of their pasts.

“We actively recruit people from disadvantaged backgrounds or who have overcome difficult periods in their lives because they tend to have

a real hunger for work and are totally committed to doing the job well,” Mr Mower explained.

“All too often we see employers disregard potential trainees or employees on the basis of past mistakes in their personal lives. What they often do not realise, is that people who have managed to get their lives back on track in spite of very difficult circumstances, bring incredible energy, drive and tenacity to the workplace — qualities which many businesses say are hard to find.”

Since it was established in 2001, Aspire has expanded rapidly, offering an extensive range of ground maintenance and property-related services while helping unemployed people retrain and get back into the world of work.

These include ground maintenance, property services, textile recycling and furniture upcycling.

WHAT IS BEING DONE TO ADDRESS THE SKILLS GAP IN OXFORDSHIRE?

Aspire Team Leader, Paul Fisher

Aspire Team Leader, Lars Thielker

Issue 8www.oxfordshirelep.org.uk • 01865 815866

Businesses struggling to find affordable business premises in Oxford are being urged to look beyond the ring road.

Many of the county’s leading providers of flexible commercial

accommodation claim there is plenty for start-ups and small businesses to choose from, if they are willing to consider other locations. Some also offer free networking and support services.

“I am a little surprised that so many Barometer respondents saw a need for more affordable premises when they have a range of options on many business parks and in desirable parts of Oxfordshire,” said Paul Mabbutt, Managing Director at Jennings, which provides small businesses with a wide selection of premises, from business centres, serviced offices and workshops to retail units and warehouses at seven sites across south Oxfordshire.

“I think one of the problems is that many businesses perceive that they have to be in central Oxford where prices are high, there is limited parking, and there is much less choice.

“Our tenants are demonstrating that you can build a successful business outside the Oxford ring road – and this is where the City Deal has a role to play. We are told that bus services between parts of rural Oxfordshire and the city centre are under threat; we know house prices continue to soar across the county and we have all had to find solutions to poor broadband and mobile data services that affect much of Oxfordshire.

“These issues must be resolved if we are to convince more businesses to take advantage of the state-of-the-art premises and support services on offer across the county.”

Jennings is planning to expand its flagship site at Monument Park, Chalgrove, which is home to around 80 businesses. It is also searching for a suitable site in Oxford for those committed to a city centre location.

Harwell Oxford offers flexible accommodation to SMEs and larger corporations as well as opportunities for innovation and collaboration with its 4,500-strong campus community in south Oxfordshire.

The community comprises key UK Research Councils, start-ups and multi-national organisations focussing on a range of commercial applications including healthcare, medical devices, space, detector systems, computing, green enterprise and new materials.

Through Harwell Oxford’s ‘open innovation’ campus structure, organisations are brought together from every stage in the development process, in a supportive environment which facilitates access to technology, support services and potential customers.

It also has an extensive networking

programme, business support and incubation facilities.

Michael Lawrence (pictured below), Chief Executive at Magellium, a campus-based SME in the Space sector, said: “Harwell Oxford has a very innovative and diverse SME community and has been the perfect location for our UK subsidiary to grow. The Satellite Applications Catapult and the ESA centre are supporting our R&D projects with access to facilities and expertise. They also work with the campus team to provide great networking opportunities in the Space sector and beyond.”

The Milton Park Innovation Centre also provides a wide range of serviced office options for over 80 companies which benefit from a highly experienced owner and manager.

The Park also offers a wide range of amenities as well as a number of transport options which makes travel easy and inexpensive.

Jo Szegota (pictured left), Head of Small Business at Milton Park, said: “Our customers at the Innovation Centre tell us that the most important factors are flexibility, service and connectivity.

“There are a number of companies which have started here and grown into larger suites elsewhere on the Park. Our dedicated management team ensure that the environment is friendly, efficient and a place where companies feel they belong.”

MAKING A CASE FOR BUSINESS PARKS AND RURAL LOCATIONS

Jo Szegota, Head of Small Business, Milton Park

Aerial view of Harwell Oxford

www.withyking.co.uk •01865 792300Issue 8

MORE NEEDS TO BE DONE TO SUPPORT SMall BUSiNESSESAlmost all those who completed the latest Barometer (90 per cent) thought more should be done to support start-ups and small businesses.

The majority (55 per cent) of respondents felt more help was needed with bank finance; 52 per cent saw a need for increased advice

and mentoring while 51 per cent wanted more affordable business premises on flexible terms; 37 per cent wanted to see more incubator centres with associated support services.

“the key is making sure that small

businesses and start-ups have a chance. We need better tax breaks, and incentives to help us get ahead.”

Jean Paldan, Managing Director, Rare Form New Media, Oxford.

more than three-quarters (76 per cent) of Barometer respondents plan to invest in their businesses in the third quarter of 2013 (in line with the last quarter’s predictions when 78 per cent planned to invest). Of these, one quarter (26 per cent) plan to invest in their properties.

Minoli, which is renowned for its quality range of ceramic floor and wall tiles, is investing in its premises in Transport Way, Cowley.

Managing Director, Jonathan Minoli, explained: “We are undertaking one of the busiest periods of investment in our 55 year history.

“We are looking at all aspects

of our business to ensure that the infrastructure is sufficient to cope comfortably with our current and predicted levels of business. We are expecting an upturn in the next 6 to 12 months, due to general economic improvements as well as our own efforts to generate sales in new markets.

“Although our showrooms, office and warehouse facilities are relatively new we are reviewing them to ensure they are fully up-to-date and efficiently run. We are also conscious of our future needs and expect to make significant investment in the infrastructure soon.”

BUSiNESSES PlaN TO iNvEST iN PROPERTy iN 2013

south Oxfordshire-based HR Wallingford is extending its premises at Howbery Business Park by 17,000 sq ft with a £3m development, becoming one of

the UK’s few businesses to commission new buildings amid a challenging economic climate.

The new building will house the world’s first Wave Current Flume as part of HR Wallingford’s cutting-edge expansion plans.

Work on the 70-metre long wave flume, which will be used to conduct global research — for example on offshore wind turbines and riverbed-based bridges for the renewable energy sector — is due to begin this summer.

It will be used by HR Wallingford’s scientists and mathematicians as well as visiting researchers.

The flume will be built in a new modelling hall, together with an electronics laboratory and a state-of-the-art, ship simulator centre which will recreate the entrances to ports and harbours, providing vital training to pilots, particularly for new ports in the rapidly expanding oil and gas industry.

The project has been commissioned by HR Wallingford, world leaders in the provision of analysis, advice and support in civil engineering and environmental hydraulics as well as services linked to the management of water and its environment. It will see the company expand its

existing 120,000 sq ft facility at Howbery Business Park in Wallingford, by 15 per cent.

“We are an independent company which gives us the flexibility and scope to invest in our own research facilities at Howbery Business Park,” said John Ormston, Chief

Executive at HR Wallingford Group. “There has been a lot of support for our expansion, particularly in the current climate, so the whole process has been relatively straight forward.

“Howbery Park has proved an ideal setting for our business over the past five decades with its location by the River Thames and strong links with water and scientific study being key factors in our decision to build here.

“It is also an added benefit to have tenants on site, such as the Environment Agency, with shared interests. Work is due to begin shortly and we expect to complete the project by April next year.”

HR Wallingford has a turnover of £25m and employs 230 people at its Oxfordshire headquarters. It also has offices around the world, including the United States, Australia, China, Malaysia, India and Italy.

HR Wallingford lights the flame for Oxfordshire

John Ormston, Chief Executive, HR Wallingford

“Howbery Park has proved an ideal setting for our business

over the past five decades with its location by the River Thames and strong links with water and

scientific study being key factors in our decision to build here.”

Oxfordshire businesses are still showing signs of growth with two-thirds (63 per cent) of Barometer respondents reporting an increase in turnover during the last 12 months, up slightly from 60 per cent in the previous quarter. Turnover remained constant for 26 per cent, again up slightly from 24 per cent in the last survey.

Businesses in Oxfordshire have spokenWithy King’s Oxfordshire Business Barometer is a quarterly survey run in partnership with Oxfordshire Local

Enterprise Partnership (LEP) which canvasses the views and experiences of directors and decision-makers. Over

the last two years, we have heard from large businesses, SMEs and start-ups on the opportunities and challenges

they face. Here are the results of our latest Barometer on turnover, head count, investment trends and confi dence.

“Oxford has the potential to overtake Cambridge as a global centre for

high-tech businesses. “

To read the full report in detail, please visit: www.withyking.co.uk/oxfordshire-barometer

Looking ahead to the third quarter of 2013, more than half (53 per cent) of respondents predict an increase in turnover, down from 59 per cent in the last Barometer. A further 42 per cent expect it to stay the same, up from 31 per cent.

Increased

63%

Decreased

Last 12 months

Stayed the same

11%

26%

Stay the same

Increase

5% Decrease

Q3 2013

Turnover

Headcount

53% 42%

In the last 12 months, Barometer respondents said headcount had remained the same (51 per cent) or increased (33 per cent).

Over two-thirds (64 per cent) expect headcount to stay constant during the third quarter while 31 per cent plan to recruit. These expectations are in line with those predicted in previous surveys for the fi rst and second quarters of 2013.

Last 12 months

Q3 2013

33% Increased16% Decreased51% Stayed the same

31% Increase5% Decrease64% Stay the same

0% 100%

Investment

76 per cent of Barometer respondents plan to invest in their businesses in the third quarter of 2013 (in line with the last quarter’s predictions when 78 per cent planned to invest).

The majority (74 per cent) are still looking to invest in marketing and business development – up from 55 per cent last quarter. Many are also looking to invest in people (46 per cent), premises (26 per cent) and research and development (25 per cent) – all representing an increase on the previous quarter’s investment predictions in these key areas.

76% plan to

invest in

Q3 2013

24%

Marketing & business

development

People Premises Research & development

74%

46%15% 14%

Outlook

Confi dence is growing steadily with almost all the respondents (92 per cent) viewing the economic outlook for the second half of 2013 as increasingly positive or static, up from 85 per cent in the previous Barometer. Nearly half (49 per cent) are more confi dent about their business prospects for the next 12 months when compared with the previous year while 46 per cent feel about the same, in line with the sentiments expressed last quarter.

Economic outlook for second half of 2013

Confi dence about their business prospects over next

12 months

47% Increasingly positive

45% Static

8%

Increasingly negative

49% Moreconfi dent

46% Same

5%

Lessconfi dent

Lawyers ahead of the curve

Revised v 5.1 - text with museo 500 to fit within logo dimensions

Lawyers ahead of the curve

Revised v 5.1 - text with museo 500 reduced logo and font

Lawyers ahead of the curve

Revised v 5.1 - text with museo 500 to fit within logo dimensions

Lawyers ahead of the curve

Revised v 5.1 - text with museo 500 reduced logo and font

Professor Peter Dobson OBEAcademic Director, Begbroke Science Park

Except where otherwise noted, this work is licensed under http://creativecommons.org/licenses/by-nd/3.0

Survey conducted in June 2013