Peterborough business leaders celebrate successful 2023 and remain optimistic for new year

Despite an international backdrop of war and conflict and political turmoil at home, there is a feeling of optimism for the year ahead and satisfaction with a job well done during the last challenging 12 months.

Andrew Killingsworth, chief executive of the fashion retailer AK Retail, in Bakewell Road, Orton Southgate, which owns Yours Clothing, said: "Our first priority must be to put an end to these ridiculous wars that are going on. It will help business because a lot of the problems come through conflicts of war.

He said “We have done really well these last two or three months against the backdrop of despair.

“I think this next year will be tough and we will have to work harder to gain the favour of people who have a bit of money to spend and make sure we are offering the very best value we can.”

Mark Shortland, managing director of Shoplight, in Titan Drive, Peterborough, said: “2023 was a fantastic year for us.

"We began our work on the development of a range of products that use biopolymers and additive manufacturing rather than use imported aluminium goods, a strategy that has been received incredibly positively by our customers.

"As we move into 2024 we are filled with optimism.

"We believe the economy has sufficient strength for growth but are reliant on our politicians to help or, at the very least, not hinder.

He said: “Sustainability will be at the heart of business in 2024 and we need an industrial strategy aligned with the move to carbon neutrality and net zero.”

Steve Hawkins, regional managing partner of commercial agents Eddisons in Peterborough said: “The global and national events of 2022 have contributed to make 2023 an interesting and challenging year leading to a variety of cost pressures, including inflation and interest rates adjustments.

He said: “The industrial sector has proved to be pretty resilient. For Peterborough, the industrial and logistics sector remained strong with prices holding up well.

In 2024, Peterborough’s office market could start to show improvement in demand for the better quality offerings.

He added: “For 2024, inflation appears to be cooling. The general consensus of opinion is that interest rates may have peaked, although they may stay uncomfortable for longer than expected.

“What is certain in facing the next 12 months is that we are going to suffer the noise associated with a General Election with which, even now, many are already fed up.”

Mike Greene, chairman of Peterborough and Stamford Chamber of Commerce, said: "Peterborough is the fastest growing city in the UK and there are lots of reasons to be hopeful about in Peterborough, especially with the university doing really well.

He said that politicians could provide more help to ensure the growth of small businesses.

"Nationally there are 5.5 million businesses that each employ less than 250 people. More needs to be done to help them flourish, for instance by reducing the tax burden.”

Dave Poulton and Kez Hayes-Palmer, co-founders of Up The Garden Bath, said: “We had an amazing 2023 and the year saw continued success and growth for our award winning community group.

“Our collaborative retail project UNITY generated £60k in sales for 75 local businesses in just 12 weeks and the success of our pop up shops led us to secure a permanent shop in Queensgate.

“We have great hopes that 2024 will continue to see us grow and develop.”