As we enter the New Year there are good reasons for optimism about the strength and profile of our city region. The UK's manufacturing sector as a whole is enjoying growth and the Sheffield City region is well placed to continue to grow and enhance its reputation as a centre of world class manufacturing and technology.
The Advanced Manufacturing Park has attracted leading companies to the region for manufacture and research in industries including aviation and energy. 2014 will see Rolls Royce expand its operations here to begin production at its Advanced Blade Casting Facility, evidencing the appeal of the Sheffield region to the UK's manufacturing sector.
The "Made in Sheffield" brand goes from strength to strength and showcases its work at the very successful MADE entrepreneur's festival.
Sheffield has been chosen to house the headquarters of the government's new Business Bank which will strengthen the city's profile nationally, as well as the region's financial services sector. This Bank has had its funding commitment increased and its activities should increase the availability of funding especially to the region's small and medium sized businesses encouraging the optimism felt by many of these enterprises which in turn will lead to increases in investment and recruitment.
The Cultural Industries Quarter Agency continues to drive regeneration, investment and development of the cultural industries in South Yorkshire in its heartland between the city centre and the Midland station.
The city remains home to two first class universities and teaching hospitals which continue to thrive and in turn help the city prosper, not least by providing a pool of skilled graduates for employers.
In retail, the Moor redevelopment is progressing towards completion and attracting people back into the centre of Sheffield. The Sevenstone project has been replaced by Sheffield City Council with a new developer with plans to complete by 2019.
Sheffield will have a station on the HS2 rail project with a mainline station at either Meadowhall or the city centre.
This year will see the Tour de France cross our region providing benefits as spectators and athletes descend on Sheffield, the area has the opportunity to showcase itself to an international TV audiences.
Sheffield's professional services sector is strong with the city well represented with nationally recognised accountancy and legal practices, a strong presence from the major banks and major construction and infrastructure businesses. Wake Smith LLP as a local major commercial legal practice will play a part in assisting clients in this improving business environment.
There are still challenges ahead for businesses in the Sheffield City region but we must remember these positive developments and look forward to a brighter future.
This article was published on "The Star Business Survey 2014" on Wednesday 22 January in The Star Newspaper. If you want to read the full supplement please click here
Feel free to contact Mark Serby at [email protected] or on 0114 266 6660.
