City Matters Edition 031

Page 6 | 03 - 09 May 2017
Business Matters
Firms take stock
in turbulent times
CONFIDENCE among London’s small firms
has risen to the highest level in over a year
despite spiralling business costs, according to
the latest Federation of Small Businesses (FSB)
London Small Business Index (LSBI).
The LSBI stands at 24 in Q1 2017, the highest
figure since Q4 2015, and up considerably from
the -3.4 recorded after the EU referendum.
The recovery in the headline SBI comes
despite a surge in the price of doing business;
62% have seen an overall increase in the cost
of running their operations in the past quarter
compared to 2% who have seen a decrease.
Positively, nearly a half of businesses (48%)
expect gross profits to increase in the coming
three months, compared to a fifth (20%) who
expect them to fall.
The average FSB employer will face £2,600 in
additional employment costs over the coming
year as a result of the rise in the National
Living Wage, resulting National Insurance
contributions, and auto-enrolment. These
cost pressures are being exacerbated by rising
inflation.
The Consumer Price Index rose above the
Bank of England’s 2% target to 2.3% in
March. It means firms are struggling with
increased prices when buying supplies,
products and services, while the rise in
inflation will also impact other bills, such as
business rates.
Sue Terpilowski OBE, London policy chair
for the FSB, said: “The impacts of the spiralling
cost of doing business are starting to show.
“The percentage of businesses seeking to grow
in the next 12 months, although slightly up on
last quarter, remains below the levels seen two or
three years ago. Higher numbers of businesses
also report they plan to downsize or close over
the next year.”
A BOUTIQUE corporate hospitality company
has reimagined London in the 22nd century,
creating images of how the Capital could look
in 2117.
Team Tactics, based on City Road just north
of Old Street Tube station, has transformed
London into a city of the future, featuring
everything from hovering transport, a flying
Gherkin and a digital Big Ben. The pictures were
inspired by sci-fi films such as Blade Runner and
The Fifth Element.
The images were commissioned to coincide
with the launch of Team Tactics’ new competitive
team building activity, Game of Zones. Inspired
by the classic ’90s gameshow The Crystal Maze,
the new activity sees participants race around
the Capital across four zones – Futuristic,
Medieval, Industrial and Ocean – completing
interactive challenges.
Experience
Just like the Richard O’Brien fan-favourite,
challenges are separated into four types: skill,
physical, mental and mystery, and are a closely
guarded secret to ensure guests experience the
maximum test of their abilities.
Managing director at Team Tactics, Tina
Benson, said: “The images were really amazing
for us, it’s so interesting to see how advanced
we might be in 100 years’ time, especially
considering how far we’ve already come.
“The next century is destined to be one of the
most technologically groundbreaking in human
history and the blend of old and new will be
interesting to see in London and cities across the
world.
“Game of Zones is one of the biggest things
we’ve done. We know how many people loved
The Crystal Maze and it’s great to be able to take
that concept and turn it into something that can
span an entire city.
“With the relaunch of the TV series we’re
CITYMATTERS.LONDON
London transformed
for Game of Zones
London’s future is now:
thanks to Team Tactics
looking forward to challenging fans young and old.”
Game of Zones joins Team Tactics’ roster of
corporate away-day packages and events that
have been enjoyed by clients including Adidas,
Facebook, Coca-Cola and Google.
Prices vary depending on the number of
participants and duration of the event.
teamtactics.co.uk