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SBTLocal News Business Confidence in Sussex Falls, Despite Increasing Sales and Profits

West Pier Centre Opens With Support From Coffin Mew Coffin Mew proudly hosted the launch of The West Pier Trust’s new seafront home, celebrating the iconic pier and its rich heritage. The West Pier Trust opened its new centre beneath the arches on Kings Road, on Wednesday 06 September, overlooking the renowned pier and the beautiful West Pier Golden Spiral. Over 40 people, including West Pier Trust Chairman, Michael Farthing, West Pier Trust Chief Executive, Rachel Clark, CEO of Coffin Mew, Miles Brown and Partner

and Head of Commercial Property at Coffin Mew, Nick Leavey, attended the event. The centre is part of a new community hub for everyone to enjoy with the 24 cast-iron West Pier Golden Spiral, the BAi360 West Pier tollbooths and the restoration of the West Pier octagonal kiosk. Michael Farthing, said: “We are absolutely thrilled to have opened the new centre and I must give huge thanks to Coffin Mew for organising such a wonderful event.”

Sussex Businesses Help raise £4000 for Local Charity

For the second year running, Sussex charity the Starr Trust held ‘Starr Water Wars’ where 12 Sussex Business Teams battled it out on the water and raised in excess of £4000 for local kids and young people. This multi sport event held at Hove Lagoon Watersports on Sunday 3rd

September included some wonderful water activities such as paddle boarding, kayak water polo, raft building and log rolling whilst back on dry land there was some crazy golf. Starr Trust Events Manager Rosie told us: “The day couldn’t have gone any better with so many teams getting involved and Guy Lloyd helping to create a fantastic party atmosphere. We are so grateful to all the businesses that took part and also to our event sponsors, Beales of Worthing, Airsprung and Drum Technologies for their support. In excess of £4000 was raised which will help local youngsters achieve their goals in Art, Sport and Education”.

Business confidence in Sussex has fallen as businesses adopt a ‘wait and see’ approach following increasingly uncertain Brexit negotiations with the EU, according to a survey conducted by the Institute of Chartered Accountants of England and Wales (ICAEW). The survey highlights that the latest Sussex business confidence index stands at -10.1, sales growth is up 4.8% year-onyear, domestic sales and exports are expected to grow by just over 4% in the year ahead and turnover growth is helped by an increase in selling prices at 1.8% compared to 0.4% a year ago. The survey also showed that input prices, such as raw metrials and fuel, are growing significantly faster than last year at 3% this quarter, compared to 0.9% in Q3 2016 and profit growth is predicted to rise to 4.9% from 4.5% over the past 12 months, while capital expenditure is anticipated to rise by 2.1% over the next 12 months. 7

Sussex Business Times issue 416  
Sussex Business Times issue 416