Business Dorset portfolio aims to ignite multi-billion investments An investment roadmap aimed at delivering a multi-billionpound boost to Dorset’s economy and thousands of jobs over the next 10 years has been published, at investindorset.com. The Dorset Living Better investment prospectus presents an ambitious portfolio of investment opportunities across all that is best and unique about the areas covered by BCP Council and Dorset Council. In the next decade it aims to deliver: n a £24 billion uplift to the local economy n 48,000 jobs n 480,000 sq m of new commercial floorspace n and 8,600 new homes while protecting and enhancing Dorset’s world-class environment. It sets out how Dorset can embrace technology to be at the forefront of confronting some of humanity’s biggest challenges – from an ageing population, to sustainable food production, to tackling climate change and cyber security – while also
The Army’s BattleLab Defence in action
growing the local economy. It details how key sectors in the Dorset economy including health, finance, defence and aquaculture can evolve and attract new investment, and why 5G connectivity is a vital catalyst for innovation, social inclusion and wellbeing. And it focuses on why some of Dorset’s unique attributes, including an older population, one of the best integrated care systems in England, and an outstanding natural environment, can be harnessed
for social good and economic gain. Ambitions include: n Delivery of the proposed Medtech (medical technology) Science Park at Wessex Fields, bringing together health research, education and industry to be a global leader in health innovation, especially for healthy ageing. n The creation of a National Aquaculture Centre of Excellence and an offshore aquaculture park to tap a global £173 billion market for
sustainably farmed fish, shellfish, aquatic plants and algae, and build on Dorset’s national status as a ‘High Potential Opportunity’ for aquaculture investment. n Developing Dorset’s defence and cyber security cluster, working with the Army’s BattleLab Defence Innovation Centre at Winfrith, to develop new products and technologies that could be commercialised. This is especially relevant given the recent defence review and the commitment to invest £23bn in new technology. Work on the prospectus began last summer and has been driven by the Dorset Local Enterprise Partnership (LEP), working closely with local authorities, business, education and environment groups. The prospectus will help inform future bids to the Government’s £1.5 billion regional Shared Prosperity Fund which is launched next year, and more immediately to the £220m pilot scheme called the Community Renewal Fund.
Furlough could cost companies dear By Miranda Robertson newsdesk@blackmorevale.net
An HR expert is warning businesses that furlough cannot be used for notice periods – and to take stock of the viability of all their staff roles now or face even higher costs. Gemma Murphy, Director and HR Consultant at ViewHR, which has clients Dorset-wide, says there is a danger that keeping employees on furlough could be ‘kicking the can down the road’ if it allows unviable jobs to survive short term. The furlough scheme has been extended to the end of September. Gemma said: “There is no 66
doubt that the scheme has helped the country avoid the huge rise in redundancies that many were predicting 12 months ago. But has it just enabled financially distressed businesses to keep unviable jobs going? And what will happen to such jobs when the scheme ends? “At ViewHR, we have had the unfortunate job of working with many businesses who have had to make redundancies during the pandemic. “Whilst the opportunity to keep more people employed on Furlough longer is of course wonderful, I cannot help but think that many businesses are kicking the
can down the road. Ultimately, the furlough scheme exists for what will be viable jobs down the road but instead there are strong signs that many unviable roles are surviving just because of the scheme.” Gemma says costs associated with furloughed employees such as the accrual of holiday, length of service and also the introduction of contributions from August, could be the difference between sink or swim for many businesses. She said: “If ultimately employees will have to be made redundant, the costs will become higher as service increases as there may be the risk of claims.”
She added: “If a business does need to make redundancies, it is critical that they follow a fair and reasonable redundancy consultation process. Failure to do so will in the long run result in costly claims in the employment tribunal. So many businesses try to save money and take short-cuts at the restructuring stage only to have to pay it back in compensation costs later. This can be crippling.” View HR and insolvency practitioners Antony Batty & Co are offering a free initial discussion to businesses worried about how to proceed. Call your nearest office for details.
