Report advises East Anglian business community on how to best prepare for Brexit

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Pic: Thinkstock - Credit: Getty Images/iStockphoto

Developing an industrial strategy for Norfolk and Suffolk, strengthening place marketing and inward investment, and collaborating with other regions where there is a common interest are some of the ways the East Anglian business community can best position itself in preparation for Brexit, according to a report.

Developing an industrial strategy for Norfolk and Suffolk, strengthening place marketing and inward investment, and collaborating with other regions where there is a common interest are some of the ways the East Anglian business community can best position itself in preparation for Brexit, according to a report.

The recommendations come from a study commissioned by the New Anglia Local Enterprise Partnership and Norfolk and Suffolk county councils to assess the potential impact of the UK leaving the European Union on the region’s economy.

The report, ‘The potential implications of Brexit for Norfolk and Suffolk’, was produced by consultants Metro Dynamics who state there is “a strong case for focussing and strengthening place marketing and inward investment” to both attract and retain workers if “the labour market continues to tighten and if migration continues to slow”.

Other suggestions include refocussing Growth Hubs and Innovation Hubs so they provide improved support for businesses which have opportunities for growth or which maybe more challenged by Brexit, and investing in marketing to “develop a very strong place based story and proposition” in order to a attract large scale private sector investment in infrastructure and development.


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Collaborating with other regions and sectors in the UK is also proposed “where there is a common interest in reaching out to new markets or designing new products”.

Developing a local industrial strategy to ensure that central Government is “fully aware” of the region’s specialist sectors and their contribution to the national economy is also recommended, as is the development of a more in-depth piece of work to gain a “more accurate understanding of leading indicators and of business health and where the challenges and opportunities lie”.

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Chairman of New Anglia LEP, Doug Field, said: “We know that Brexit will have a significant impact and while there are still a number of uncertainties, it is useful to be able to see a fuller picture of how our key sectors may be impacted.

It means we’re now well informed to look at the role the LEP and local authority partners can play in supporting businesses to be ready for March 2019. The report’s findings underline the priority themes identified in the new Economic Strategy for Norfolk and Suffolk.”

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