IQ Magazine Issue 19

iQ reports
Embracing Change: Cambridgeshire Ltd
The way we do business is changing
and Cambridgeshire is embracing
this change like no other county.
In the last two years, the region
has seen significant investment;
Cambridgeshire delivered profits
of over £1bn, with the top 100
companies turning over £10.3bn,
a 1.6% increase on 2015, and
employment has grown by 4%. This
continued expansion is underlined
by business confidence that thrives
on challenges, innovation and a
dynamic economy. Cambridgeshire
is growing and it’s not set to stop.
Two of the most notable
investments made in 2016 include
the relocation of the pharmaceutical
and biopharmaceutical company,
AstraZeneca to the Cambridge
Biomedical Campus** as well as
the £107m acquisition for Marshall
Motors. This acquisition was the
biggest to date for the organisation,
and you can read more about this
achievement for Marshalls in an
interview with CEO Daksh Gupta
on page 23.
Technology remains
Cambridgeshire’s largest and most
profitable sector, consisting of
23 companies with a combined
turnover of £2,455m. The sector is
the second highest employer in the
region, with the highest levels of pay
at £50,100 (on average), compared
with the UK national average of
£22,000. The high levels of pay
demonstrate the fiercely competitive
market for highly skilled people
in this sector, especially within
Cambridge and the surrounding
villages.
With technology as
Cambridgeshire’s largest sector,
we’ve taken a look at other UKwide
reports that help to indicate
this growth. According to The
Geography of Creativity in the UK,
creative industries are growing faster
than any other business in the UK,
and Cambridge and Peterborough
are marked as two cities that are
thriving and growing in this area.
Although the biggest creative hubs
are found in major cities such as
London, Bristol and Manchester,
smaller areas are becoming
increasingly significant, including
Cambridge and Peterborough.
Cambridgeshire remains a county
that attracts people because of
the wealth of its economic and
social opportunities. The number
of people employed in the region
has risen by 4%, with the average
salary being £31,700. Cambridge
and Peterborough also remain the
locations with the highest number
of people employed.
Cambridgeshire continues as
the leading county across East
Anglia. The combined turnover
figure for Norfolk, Suffolk and
Cambridgeshire equates to £20m,
of which Cambridgeshire accounts
for approximately half. As stated
within the Grant Thornton report,
the highest average salary for the
Eastern area is £31,700, some
£9,000 higher than Norfolk and
Suffolk. The technology sector
significantly influences this.
Another notable change
for Cambridgeshire, is the
unprecedented shift in the
make-up of the region. In 2016
many companies left the index
due to the changes of ownership,
and 14 new companies joined.
This is particularly exciting, as
the entry level to the Top 100 was
significantly higher than previous
years, again, demonstrating a region
that thrives on challenges and
embraces change, for the better.
Suffolk has a slightly different
personality to Cambridgeshire.
issue 19 | page 20