NEWS
TEES UNDERTAKES STRATEGIC BRAND REFRESH As part of strategic growth plans, and to reflect its evolving service offering, top 200 law firm Tees has unveiled a significant brand refresh. Spotlighting its capabilities as a full-service legal practice with an integrated financial services arm, the brand refresh is a key part of Tees’s strategic repositioning. Today, the firm’s independent financial advisers work closely with its legal teams to provide joined-up, holistic advice to private individuals, entrepreneurs and business owners alike. The brand refresh is just one element of the firm’s strategy, which
Of the 42% that already use AI, 92% have seen increases in productivity – the second-highest proportion of any UK region – while 87% say it has improved their profitability. Firms are most commonly using AI to improve efficiency (69%) or to analyse data and make better-informed decisions (42%). Looking ahead, 79% of the region’s businesses Tagomics awarded £860k grant Cambridge-based biomarker discovery and diagnostics company Tagomics Ltd has been awarded £860k of funding in the Biomedical Catalyst programme for testing and development of innovative healthcare solutions from Innovate UK. The funding will support the customisation of Tagomics’s Interlace platform to develop a highly sensitive and specific diagnostic test for the early detection and treatment of colorectal cancer, as well as a subsequent pilot study with the NHS. includes plans to achieve a turnover of £60m by 2028. The most recently published figures (for 2024) show a turnover of £30m, with 2025 likely to outturn around £35m. To put this into context, the 2020 figure was £23m. “This is more than a cosmetic update – it’s a statement about our ambition,” said managing director Ashton Hunt.
AI EXPECTED TO DRIVE LOCAL GROWTH The majority of East of England firms believe AI adoption will be a key growth driver in their local economy, according to Lloyds’ Business Barometer, with many reporting AI-related increases in productivity and profitability. More than three in five (61%)
plan to invest more in AI over the next year, with 22% of non- adopters planning to use it for the first time. Meanwhile, 22% of East of England firms plan to create new AI-specific roles. The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.
East of England businesses believe greater AI adoption will be a major driver of local economic growth.
Spending pledge good for East Following June’s Spending Review, KPMG’s East of England office senior partner Joe Faulkner commented: “The chancellor’s £22bn annual funding pledge for science and technology R&D will benefit the East of England as a key innovation hub. The £2.5bn investment in East West Rail is a positive step, as improved connectivity between Oxford and Cambridge will unlock new opportunities for collaboration, support the flow of talent and drive long-term economic growth across the Arc.”
06 | BUSINESS EDITION | ISSUE 2
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