2014 – A year to remember
Vision asked North East business leaders to look back at 2014 and for their hopes for the region next year.
Ian Gilthorpe, senior partner of commercial law firm, Square One Law said, “Over the last year we have seen the firm grow by just under 70%, thanks to our strong client base and this growth is a reflection of the movement in the market and the success of the businesses we act for, combined with an increase in market share. We are optimistic to see this growth continue as we know there are many significant projects on track for 2015.
Whilst the effects of the upcoming general election and concerns about the global economic outlook will provide some uncertainty, one area that we are confident will remain buoyant in the North East is the energy sector.
As we move into 2015 our energy team led by James Bryce, expect to see continued investment in the maturing renewable energy market, supported by a more stable regulatory environment and improved efficiency on assets as advances in technology have led to certainty of returns for investors.
Alongside this, we feel 2015 will be an important year for the emerging shale gas market in the UK and we will have a clearer understanding of the viability of the industry in 12 months time.
The oil & gas market will remain buoyant, and in particular we think we will see the resurgence of the North East as a world class centre for the supply chain, particularly in the engineering and subsea sectors and as alternative to Aberdeen.
Despite this, the global economic outlook sounds as though it is going to be challenging, even though Britain is currently out performing many countries.
The businesses in the region that will be successful need to continue to be agile and have an acute sense of where the opportunities lie. That’s what we are trying to do at Square One Law and we are delighted to be working on some very exciting projects with a number of these businesses.”