✅ UK Government publishes ambitious 10-year industrial strategy for consulation
Corporate communications, public relations, media and management insight
How can our public relations or corporate communications team assert its role within management?
Here's a good place to start: work on behalf of your organisation to frame its perspective on the Government's Invest 2035 industrial strategy and then collate and submit feedback by 24 November.
The Industrial Strategy is built on three pillars:
Focus on eight high-potential industrial sectors
Place-based approach leveraging regional expertise and opportunities
A supportive policy framework to drive growth
We’ve explored each of these areas to understand what they mean for the UK's economic future. They provide signals for business planning from a sector, national and regional perspective.
The Government is seeking input from a wide range of stakeholders on various aspects of the proposed strategy. The green paper includes specific questions on topics ranging from identifying key subsectors to addressing barriers to growth.
We strongly encourage you to make your views known through the channels suggested in the document. This includes MPs, unions, trade organisations and regional, local, and devolved Government partners.
You can also provide feedback via an online survey. The deadline for submissions is 24 November.
Have a good week.
Industry
💸 PAYMENT PROBLEMS: Late payments are severely impacting UK businesses. Government research reports that over a third of delayed payments are due to administrative errors, while 18% of businesses surveyed believed that customers deliberately delay payments as a form of free financing. The issue particularly affects micro-businesses, with 32% reporting that they pay suppliers late due to their customers' delayed payments. Source: Wadds Inc.
💻 DIGITAL TRANSFORMATION: Corporate communications is undergoing a digital transformation, with teams adopting data-led practices through complete overhauls or incremental changes. The Wadds Inc. report highlights how digital transformation improves strategic communications, planning, risk management and creative content generation. Source: Wadds Inc.
🎤 PR LEADERSHIP INSIGHT: A new Wadds Inc. podcast episode features Nathalie Agnew of Muckle Media discussing Scotland's PR sector. The episode highlights successful agency growth strategies and the implementation of a four-day work week. It focuses on modern agency leadership topics, including talent retention, acquisition opportunities, and the value of professional networks such as the IoD. Source: Wadds Inc.
Research
📊 VALUE OF REPUTATION: Echo Research reports that corporate reputation accounted for 30% (£719 billion) of FTSE 350 companies' market value in 2024, with energy giants Shell and BP among the top performers. It finds that ESG factors have surprisingly turned negative as investors now view them primarily as compliance costs rather than value creators. Source: Echo Research.
📈 ESG GAP: Echo’s findings contrast with an SEC Newgate report that claims growing public demand for corporate responsibility and transparency. 65% of respondents want companies to take a more active societal role, and 78% expect businesses to prioritise all stakeholders over shareholders. The UK data shows particular resonance with responsible business concepts among younger generations. Source: SEC Newgate.
Learning and development
🎓 DYSLEXICU LAUNCH: Richard Branson and Made By Dyslexia have launched DyslexicU, a free online university hosted by the Open University that teaches Dyslexic Thinking skills. The initiative comes as new research shows these skills - including complex problem-solving, adaptability and creative thinking - are the most sought-after across all sectors globally. Source: Virgin.
Media
🗞 SCRAPING DEBATE: The Government plans to consult on an 'opt-out' model for AI companies to scrape online content, allowing them to mine internet data unless publishers explicitly deny permission. Media executives argue it could enable widespread copyright infringement without compensation. The same argument requires public relations practitioners to pay licensing fees to share press coverage. Source: Financial Times.
📉 BBC JOB CUTS: The BBC has announced 130 net job cuts across news and current affairs as part of a £24m cost-saving initiative, including the axing of HARDtalk and BBC Asian Network's bespoke news service. The cuts represent 4% of the current news budget and involve eliminating 185 positions, raising concerns about the impact on British Asian audience representation and the reputation of the BBC internationally. Source: The Guardian.
Social Media
🔥 X TENSIONS: Labour MP Josh Simons has called Westminster's reliance on X (formerly Twitter) "totally wrong," accusing Elon Musk of manipulating the platform's algorithm for personal interests and warning of its negative impact on British democracy. It follows deteriorating relations between the Government and Musk following riots in the UK over the summer that were amplified by X. Source: The Guardian.
📱 CEO LINKEDIN ENGAGEMENT: LinkedIn reports a 35% increase in US C-suite professionals over the past five years and a 23% rise in global CEO posts year-over-year, with executive content receiving 4x more engagement than regular posts. CEOs see a 39% average increase in followers when they post more frequently, suggesting the platform's growing importance for executive communication. Source: Social Media Today.
Thank you to David Brain, Julian Christopher, Michael Greer, Ben Lowndes, Robert Minton-Taylor, Jamie Klinger, Katie Wall and Sarah Waddington CBE and everyone who shares and debates the stories in the newsletter via our Facebook community. You‘d be welcome to join us.