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Business News
Business
N E W S A N D V I E W S I N T H E B U S I N E S S W O R L D
The UK is recognised as the global centre
of subsea excellence, with a large
concentration of subsea companies
headquartered in the country’s key energy
hubs, supporting around 45,000 jobs.
The subsea sector works across a range
of industries including offshore wind, oil
and gas, defence and marine science,
as well as a number of emerging marine
developments such as aquaculture,
deep-sea mining, wave and tidal energy.
The operational and technology
challenges working underwater are similar
across the various industries and can
provide many opportunities for companies
to diversify across sectors in areas such as
underwater materials, corrosion, inspection,
robotics, control systems, subsea power,
data analytics, sensors and monitoring.
However, if the UK’s energy industry is to
continue to increase its exports and deliver
its cutting-edge services and innovation to
the world’s energy provinces, businesses
need to be able to access the UK’s key
regions easily and efficiently.
Helping companies also tap into
new trade and investment opportunities
in overseas markets is what will help
grow the sector’s global market share,
while safeguarding jobs, creating
new opportunities and increasing the
contribution to the economy.
Britain has pioneered subsea
technology and expertise, and as a
result is one of the UK’s best performing
industry sectors to help attract investment
and talent and to work collaboratively
with government on diversification,
internationalisation, innovation and skills.
Many of the UK offshore energy hubs
such as Aberdeen, Newcastle, Norwich,
Southampton and Humberside are well
connected with air links. However, if the
UK’s £7.5bn subsea industry is to maintain
its world-leading position, it’s vital that
transport links to international hubs
are retained and increased in line with
market demand.
Under the sea
SUBSEA TECHNOLOGY IS
ONE OF THE UK ’ S BEST-
PER FORMING INDUSTRY
SECTORS
TAKE A BREAK
1 IN 12 WORKERS
MISSING OUT
ON HOLIDAY
ENT I TLEMENT
More than two million
workers are not getting
the minimum amount of
holiday they are legally
entitled to, according to
new research.
Under law, a full-time
worker is entitled to 28
days off per year but many
people are set unrealistic
goals by their employer
or are deliberately
denied requests for
leave, the Trades Union
Congress (TUC) found.
Workers are losing out on
an estimated £3bn of paid
leave a year, with women
more likely than men to be
affected.
Almost 15 per cent of
staff in agriculture are
not getting their holiday
entitlement, making it the
worst-performing sector,
the TUC said.
Close behind are mining
and quarrying (14.7 per
cent) and accommodation
and food (13.9 per cent).
Across the whole
economy, the researchers
estimate that 2.2 million
people – 9.2 per cent of
women and 7.2 per
cent of men – are
missing out on
annual leave.
SEPTEMBER 2018
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Flight Time
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