Labour has won the general election in a landslide, with Keir Starmer set to become the new Prime Minister. Following the news, local business leaders have reacted.
East Midlands Chamber Chief Executive Scott Knowles said: “Business wants the best outcomes that will remove barriers to economic growth in the East Midlands and we look forward to hearing the new Government’s plans as soon as possible.
“Government’s purpose is to create an economic environment that allows businesses to invest, to create and sustain jobs – and then to get out of the way to allow business to thrive. That’s what the business community needs for growth in the East Midlands and we stand ready to advise and hold the new government to account at both national and regional level to ensure that enacting the needs of our region’s businesses is top of the list.
“Business currency is confidence – confidence means growth, investment into people, plant and machinery and digital transformation. Our Manifesto for Growth sets out what businesses in the East Midlands need across the areas of Investment, Innovation, International Trade and Infrastructure. We’ve presented it to Westminster; it’s ready for the new government to get on with and I urge its implementation.”
Chris Freeston, Nottingham Office Managing Partner and National Head of Banking and Finance at law firm Freeths, said: “As predicted in the polls, the election has resulted in a strong Labour victory. In terms of the impact on business, Keir Starmer and Rachel Reeves have met with most of the FTSE 350 in the last 18 months and have been courting the wider business community.
“The expectation is that in return for offering stability, planning reform to accelerate housing and infrastructure and a ‘business friendly’ environment to generate much needed growth, the new government will introduce greater rights for employees. This could include employment rights from day one, which may adversely impact retail and seasonal employers such as agriculture and hospitality, and potentially be much more interventionist than the previous government. As ever, we will have to wait and see exactly what changes are implemented and how quickly.”
Leanne Mordue, director of Derby digital marketing firm JDR Group, said: “I think this win for Sir Keir Starmer is going to be welcomed by our clients and our industry, because his campaign has been built on change and stability.
“If he is able to deliver that, people will experience the increase in optimism you get when things change and then they will appreciate a period of stability and the kind of steadiness he has been talking about.
“We’ve had nothing but bad things after another for the past few years and that’s created nothing but uncertainty. Even though stability sounds dull, businesses will appreciate a period of calm because it’s more predictable, and that’s good for business.”
Malcolm Prentice, group chairman of rail depot maintenance firm MTMS, based in Moira, Leicestershire, said: “Rail is important to Britain, so I want this new Government to treat it seriously and take time to understand it. I don’t want them to use it as a political grandstanding opportunity, or to ignore it because it’s not an obvious vote winner like the NHS or schools.
“The last transport minister who really understood the railways, in my opinion, was Patrick McLoughlin. Now that we have a new government, I hope that whoever is appointed transport minister starts off in the right way.
“No speeches, no instant changes – they need to begin by listening, and listening to the right people, who are the SMEs whose livelihoods truly rely on the rail industry and who rarely, if ever, get a say on their own industry.
“The rail industry needs to change and they are the ones who deserve the chance to help shape the future.”
Penny Strutton, business psychologist and leadership specialist, Think Forward Consulting, said: “Keir Starmer’s leadership marks a pivotal moment for the UK, with Labour set to address years of conservative mismanagement. Effective change management is essential to restore pride and prosperity. Starmer must articulate a clear vision of success, supported by a comprehensive strategy with specific goals and timelines. Strong, visible leadership is crucial, with Starmer and his team championing the change and involving key stakeholders, including political allies, civil servants, and the public.
“Consistent messaging builds trust, and regular updates on progress, successes, and challenges are essential. Encouraging feedback and dialogue ensures that concerns are understood and addressed. Engaging individuals at all levels fosters ownership and commitment, while providing necessary training and support helps people adapt to new ways of working.
“Identifying and celebrating early successes builds momentum and demonstrates the benefits of change. Ensuring these quick wins align with long-term goals is vital for sustainable improvement. Tracking progress through key performance indicators allows for regular reviews and adjustments, with flexibility to adapt strategies based on feedback and changing circumstances.
“Promoting values and behaviours that support change, such as accountability and collaboration, is critical. Addressing resistance constructively ensures smoother transitions. By applying change management best practice to a huge political overhaul, Starmer and Labour can manage change effectively, delivering immediate benefits and setting the stage for long-term prosperity.”
Dr Selina Ambrose, product manager of Promethean Particles in Nottingham, said: “Seeing a new Government arrive can be a very exciting time. My hopes are that whichever Government is in power will make it a priority to support the UK’s science and technology companies who are doing exciting work to try and tackle the most important environmental issues the world faces today.
“Here at Promethean Particles we are scaling up an exciting class of compounds, called Metal-Organic Frameworks, to industrial volumes and have won significant funding in order to carry out our work. It would be great to see a new Government championing this country’s innovative science and technology companies, both at home and on the world stage.
“During Covid, the world saw what can be achieved when scientists unite and collaborate to address a major global issue, by creating vaccines. Let’s see the new UK Government prioritise its support for science and business to collaborate and make significant impact in tackling climate change, water shortage, and the many other environmental issues facing mankind today.”