Why Budget should aim to encourage investment in technology and innovation

Measures that encourage investment in technology and innovation and which stimulate growth need to be central in next week’s Budget, a leading regional business leader has said.

George Edwards, Managing Director of Nantwich-based property care specialists, Timberwise, said a key consideration is the need for policies that ensure businesses have the confidence to make long-term investment decisions.

He said: “A stable and predictable business environment is essential. Companies need confidence in the economic outlook and clarity around taxation and regulation when deciding whether to invest in new technology, recruit staff or expand their operations.

“That’s why measures in the Budget should aim to encourage investment in technology and innovation could also help businesses improve productivity, streamline processes and deliver better services to customers.

“Equally important is ensuring that businesses can access and develop the skills they need. Supporting training and workforce development would help employers build stronger teams, improve efficiency and create opportunities for employees.

“Small and medium-sized businesses should also be able to access appropriate support and finance to turn growth ambitions into reality. Removing unnecessary administrative burdens and making it easier to invest could help businesses concentrate on developing their products, services and markets.”

Mr Edwards added: “Ultimately, the Budget should focus on creating the conditions for sustainable economic growth. Encouraging private-sector investment, rewarding innovation and supporting productivity would help businesses become more competitive and resilient.

“For companies such as Timberwise, our continued success depends on making the right investments today to deliver growth tomorrow. A Budget that supports those ambitions could help businesses across the UK unlock their potential, create jobs and contribute to a stronger economy.”

His comments come weeks after the Northwich-based property care specialist reported a significant improvement in financial performance, with profits rising by 73 per cent in 2025 as the family-run business continued to invest in technology, its workforce and operational efficiency.

The company’s latest accounts show profits increasing to £611,361, up from £353,146 in 2024. Revenue also grew by 9.1 per cent, rising from £13.6 million to £14.9 million, reflecting increased work volumes and the expansion of its service offering. This result places Timberwise firmly as the UK’s market leader in specialist property care, preservation and below ground waterproofing.

The results were achieved despite continued macroeconomic headwinds and inflationary pressures affecting labour, materials and operating costs across the construction sector.

Profit before tax increased by 66 per cent to £816,310, while gross profit rose to £8.4 million, demonstrating the company’s ability to improve profitability alongside business growth.

Mr Edwards, attributed the performance to the dedication of the company’s employees and the benefits of investment made in previous years, particularly in technology.

He said that investment had helped the business accelerate its services and achieve its latest growth levels.

Timberwise has continued to invest in its workforce and operational systems, with a focus on improving efficiency, maintaining high standards of customer service and supporting future expansion.

The company, which has operated since 1968, has established itself as the UK’s leading property care specialists, providing nationwide services including damp proofing, timber treatments, structural timber repairs, structural repairs and below ground waterproofing.

Its achievements have also been recognised by the industry. Timberwise won the Training and Development award at the Property Care Association Awards in 2025 and was highly commended in the Health and Safety category.

“Our results provide an example of how investment in people, technology and operational improvements can support long-term business success,” Mr Edwards said.