Space Park Leicester and University make space sustainability commitment
Space Park Leicester and the University of Leicester have joined organisations in industry and academia in committing to the sustainable use of space.
The initiative brings together industry, academia, government stakeholders and international bodies to ensure that space continues to support the environmental, economic and scientific interests of future generations.
The University is one of over 112 signatories of the Memorandum of Principles for Space Sustainability, a UK initiative linked to the UN Secure World Foundation, which will seek to promote and facilitate understanding of outer space activities. Those principles will be echoed in the Astra Carta, a framework launched on 28 June by the Sustainable Markets Initiative. It builds on the foundation of the Terra Carta to shape a future of responsible and sustainable space exploration, development, and cooperation.
The launch of the Astra Carta framework brings to reality a vision for space sustainability outlined by His Majesty King Charles III, in his previous role as Prince of Wales, at the Space Sustainability Summit in 2022.
The launch of the Astra Carta coincides with a ministerial roundtable with George Freeman, Minister of State in the Department for Science, Innovation and Technology, and symposium on Space Sustainability at the Royal Society attended by Professor Richard Ambrosi, Executive Director of Space Park Leicester.
He also attended a Royal Reception in support of sustainability in space, where King Charles was presented with the Memorandum of Principles and officially launched the Astra Carta.
Professor Richard Ambrosi, Executive Director of Space Park Leicester, said: “Space presents a range of exciting opportunities, but it is imperative that we ensure that space continues to support the environmental, economic and scientific interests of future generations. There is also an important cross disciplinary aspect to this initiative since it aggregates science, technology, engineering, law, policy, finance and insurance sectors.
“As part of our growing collaboration with Reef Group, who will also be present for this event, we are working collaboratively on addressing global challenges as well as space sustainability challenges. At Space Park Leicester, we’re delighted to be part of this initiative and to work with the community to address this challenge.
“It is an honour and privilege to be invited to attend the round table with Minister, the Symposium and to attend the launch of the Astra Carta by His Majesty King Charles III.”
The Secure World Foundation defines space sustainability as: “Ensuring that all humanity can continue to use outer space for peaceful purposes and socioeconomic benefit now and in the long term.”
The signatories to the Memorandum of Principles seek to promote and facilitate international cooperation and understanding of the long-term sustainability of outer space activities, and through these efforts establish transparent Space Sustainability Principles of responsible behaviour, based on, expanding and developing the initial principles.
The Memorandum of Principles for Space Sustainability has been signed on behalf of the University of Leicester by President and Vice-Chancellor of the University, Professor Nishan Canagarajah.
Professor Canagarajah said: “We are committed to the betterment of future generations and building a more sustainable world – here on our own planet and in new frontiers beyond. The potential that space affords is enormous. Leicester is proud to be among the signatories to the Memorandum of Principles for Space Sustainability and to make a commitment to use it responsibly.”
100,000 sq ft industrial unit let in Burton
Rushton Hickman have completed the letting of 100,596 sq ft of industrial/warehouse space at the brand-new Quintus development at Branston Locks, Burton alongside joint agents JLL and Cushman and Wakefield.
The unit in question that was let was Unit 5 and it benefitted from 10 Loading docks, 9 EV charging spaces, 4 Level access doors and 86 car parking spaces.
Graham Bancroft, director of Rushton Hickman, said: “The Quintus development has been a major success for the area and has provided much needed warehousing and logistics space. Our clients speculatively built the units due to their confidence in both the market and also the quality of build that they were going to construct.
“The location of the development fronting the A38 and providing fantastic road communications to the motorway networks meant that there was always going to be strong interest from logistic based businesses which has proved to be the case here again.”
Pendragon chairman steps down “to pursue other interests”
The non-executive chairman of Pendragon, Ian Filby, is set to step down from his position “to pursue other interests.”
The Nomination Committee, led by senior independent director Dietmar Exler, will now commence the process to identify and appoint Ian’s successor, and is being supported by external consultants.
Ian will continue in his role at the car retailer until this process is complete.
Dietmar Exler, senior independent director, said: “On behalf of the Board, we thank Ian for his service to Pendragon and wish him all the best for the future.”
Ian Filby, non-executive chairman, said: “I would like to take this opportunity to thank my fellow Board members, the leadership team and, most importantly, our associates for their commitment to the company and passion for their work.
“I am proud of the progress that has been made both strategically and financially by the leadership team and the stability that this has created. I wish them every success in the future.”
New MD appointed at Lawson-West Solicitors
Lawson-West Solicitors has appointed existing Board director, Vicky Jones, as the firm’s Managing Director.
Vicky Jones, former head of the Probate, Wills and Trusts team at the Leicestershire law firm, has been an active Board member for many years with Associate Solicitor Phoebe Skarlatos taking over the running of that department in April 2022.
As well as Managing Director, Vicky who joined the firm in 1997, is a STEP-qualified Wills and Probate solicitor and continues to advise Lawson-West clients on their Wills and helping clients through the Probate process.
Vicky’s appointment and promotion to Managing Director sees existing MD and locally well-known commercial solicitor, David Heys, starting a new life as a specialist consultant helping business owners grow their businesses. Lawson-West will be David’s first client and he will provide invaluable strategic advice to the Board and commercial insight in this new role.
The firm’s Board of decision-making directors is made up of Vicky Jones (MD) and fellow directors Ashley Hunt, Vaishali Thakerar, Rebecca Beswick and John Stables (non-executive Director).
In 2016 David Heys was appointed Lawson-West’s first Managing Director having joined the firm as head of commercial and residential property in 2004. He became a partner in 2007 and grew and led the commercial arm of the practice at Lawson-West until 2019. In recent years the firm’s prosperity has gone from strength to strength, predicting a £4.6m turnover this financial year.
David’s tenure has seen the firm building a solid foundation of clients, infrastructure, systems and IT security, new offices in Meridian Business Park in Leicester and Roman Way in Market Harborough, profitable operations and nearly 70 staff.
Vicky Jones said: “Having been with Lawson-West since 1997, I have seen a lot of changes from early offices in traditional high street premises at Uppingham Road, Market Harborough and Wigston and all the activities of the firm then and how our firm has grown and developed to be the firm it is today with accessible business locations and modern facilities.
“I’m familiar with and proud of the quality legal services we provide in commercial and property, conveyancing, dispute resolution, employment, family law, probate, wills and trusts.
“I’m delighted to be appointed as Managing Director of Lawson-West Solicitors leading an extremely strong Board with ambitious plans and highly talented Heads of Department, so you can be sure Lawson-West will continue to grow and prosper.
“We operate a successful legal business, offering clients a law firm that provides quality legal advice, exceptional client service standards and we value success for all our clients and their legal and resolution needs.”
David Heys, departing MD, said: “I am incredibly proud to have been part of Lawson-West. I am a problem solver and I love helping people, whether they are clients I am helping to achieve their business dream and aspirations or coaching and mentoring colleagues to achieve their full potential.
“Lawson-West is unique amongst its competitors because we are not a conventional law firm of fusty old lawyers. From top to bottom our staff are focused on helping clients and, more importantly, supporting each other so that clients get our best possible service and this is reflected in client feedback on our service-focused approach and depth of care given by our staff.
“Excellence in client service is Lawson-West’s top priority and sets us apart from our competitors. My departure is another example of our careful strategic planning and I’m delighted to hand the reigns over to my friend and fellow director Vicky Jones, a dedicated, highly competent and exemplary lawyer and leader who has had an amazing 26-year career at Lawson-West having worked her way up through the firm.
“All of the directors love working with her and I know great things will come of her appointment.”
Firms urged to inspire young people to explore careers in manufacturing, engineering, and construction
A campaign to inspire young people into manufacturing, engineering, and construction careers is set to return to Chesterfield this November.
Destination Chesterfield is calling upon local companies to get involved in the successful Made in Chesterfield scheme, which enables school pupils to get an up-close and personal look at what a career in these key sectors can offer.
The annual campaign, which will run during November and December 2023, is now in its ninth year. It aims to help reduce the skills gap in some of the town’s most valuable industries, to ensure local people and businesses can continue to thrive in the future.
Made in Chesterfield is organised by Destination Chesterfield, alongside Direct Education Business Partnership, and supported by Chesterfield College Group, Chesterfield Borough Council, Derbyshire North Careers Hub, MSE Hiller, United Cast Bar Ltd and NatWest.
Through the project, thousands of young people have had the chance to explore the wide range of rewarding careers available in STEM (Science, Technology, Engineering, and Maths) sectors. Since the campaign’s inception in 2014, more than 3,500 young people from schools have spent time in the area’s manufacturing, engineering, and construction businesses.
Headline sponsor of the project, Chesterfield College Group has also seen an increase in the number of students getting involved in STEM-related subjects since the launch of the campaign.
Julie Richards, CEO of Chesterfield College Group, said: “Having supported Made in Chesterfield consistently over the past few years I’ve seen the real impact the initiative has for the next generation engineering and construction workforce.
“As we position ourselves as a reliable conduit between student and employer to enable the opportunities and inspiration for successful future careers, supporting this initiative is something we feel passionate about.
“With work on our new cutting-edge Engineering, Manufacturing and Science Centre due to commence this year and our involvement with hugely impactful programmes such as the Staveley Construction Skills Hub, Made in Chesterfield further solidifies our commitment to ensuring the young people we serve have access to the very best opportunities in their chosen engineering and/or construction career.”
Ivan Fomin, Director at MSE Hiller and Destination Chesterfield Board Member, said: “There is no doubt that we are experiencing a skills gap in manufacturing, caused by an ageing workforce. Therefore, it has never been more important to generate the future pipeline of talent to ensure our local manufacturing and engineering firms can continue to grow.
“Being able to offer these tours and interact with young people on a face-to-face basis provides them with an invaluable insight into the exciting potential and scope for growth that a career in STEM can offer.”
Cllr Tricia Gilby, Leader of Chesterfield Borough Council and Cabinet Member for Economic Growth, said: “Made in Chesterfield is a fantastic programme that creates an opportunity for businesses to interact with young people and help them to make informed choices about their future.
“We’re proud to support this programme because helping young people find the right path for them guarantees that they can have a great career in our borough but it also helps employers ensure that the future workforce is developing the skills that they will need.
“Together this will help improve the quality of life for residents whilst also creating a thriving local economy with opportunities for everyone.”
Clare Talati, CEO of Direct Education Business Partnership (DEBP), added: “DEBP are pleased to be able to continue supporting the Made in Chesterfield initiative; enabling space for employers and young people to come together.
“Made in Chesterfield provides meaningful experiences for learners to increase their awareness of local opportunities, and for employers to showcase their businesses and meet potential future employees.”
East Midlands business confidence surges
Business confidence in the East Midlands rose 35 points during the beginning of June to 52%, the highest level of any UK region or nation, according to the latest Business Barometer from Lloyds Bank Commercial Banking.
Companies in the region reported higher confidence in their own business prospects month-on-month, up 36 points at 51%. When taken alongside their optimism in the economy, up 34 points to 52%, this gives a headline confidence reading of 52%.
East Midlands businesses identified their top target areas for growth in the next six months as investing in their team (37%), evolving their offer (22%) and introducing new technology (19%). The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide. A net balance of 39% of businesses in the region expect to increase staff levels over the next year, up 29 points on last month.
Overall, UK business confidence increased by nine points to 37% in June, with all regions reporting a positive confidence reading. Eight out of 10 regions reported a higher confidence reading than in May.
Following the East Midlands, Scotland reported the second highest confidence reading at 50% (up 28 points month-on-month), followed by the North East at 47% (up 12 points month-on-month) and Yorkshire at 45% (up 26 points month-on-month). London and the South West were the only regions to report a decline in confidence. In London confidence fell by 10 points to 33%, while in the South West it fell by one point to 29%.
Business confidence for firms in the service sector rose to 37% (up 11 points), the highest seen since February 2022. With the recent spell of good weather and a reduction in food and energy prices, businesses in leisure and hospitality may be able reap the rewards in the months to come.
Manufacturing firms’ confidence also increased to its highest level since early 2022, rising to 50% (up 10 points) to outperform other sectors.
Dave Atkinson, regional director for the East Midlands at Lloyds Bank Commercial Banking, said: “Business confidence in the East Midlands has reached record-breaking levels for the year and it’s fantastic to see that firms are feeling positive about the next 12 months. We’re seeing this confidence translate into plans for investing in their team and new technology, both of which will stand them in good stead for future growth.
“Firms looking to invest should look at the tools available to ensure they have the capital needed for their growth strategy, be that sustainability-linked loans or working capital management facilities.”
Hann-Ju Ho, Senior Economist, Lloyds Bank Commercial Banking, said: “It’s encouraging to see business confidence rebounding following last month’s five-point dip to 28%. Trading prospects and optimism have seen a resurgence this month with overall confidence up in all but two of the twelve regions of the UK, which shows positive prospects across the wider economy.
“However, interest rate rises and cost pressures are still felt by many and we await to see the impact of the latest 50 basis point rise in the base rate. Meanwhile, expectations for average pay growth, although down slightly this month, appear to have picked up compared with the start of the year and remain elevated relative to pre-pandemic levels.”
Nottingham researchers receive share of £31m to develop trustworthy and responsible AI
Nottingham researchers are part of a consortium awarded £31 million to create an international research and innovation ecosystem for responsible AI that will be responsive to the needs of society.
The funding is part of a suite of AI investments worth £52 million unveiled by UK Research and Investment (UKRI) that will bring academic and industry partners together.
Identified by the Government as a critical technology as set out in the UK Science and Technology Framework, AI is a rapidly developing science and technology area. These new investments, through the UKRI Technology Missions Fund and Turing AI Fellowship scheme, continue to build and expand the UK’s global strengths in AI.
As part of this announcement package, £31 million has been awarded to a large consortium, led by the University of Southampton, in partnership with the University of Nottingham. The consortium will pioneer a reflective, inclusive approach to responsible AI development. The consortium will be working with businesses and public sector organisations across UK.
It will fund research that helps us understand what responsible and trustworthy AI is, how to develop it, and how to build it into existing systems, all in pursuit of benefit for societies facing global challenges. It also aims to work with policy makers to provide evidence for how this can then be legislated for and regulated. Activities will include large scale research programmes, collaborations between academics and businesses and white papers to set out UK and global approaches.
Professor Tom Rodden, School of Computer Science and Co-Chair of the consortium Leadership Team, said: “The consortium builds on a long history of interdisciplinary research collaboration between Southampton and Nottingham adopting sociotechnical approaches to emerging technologies. This recognises that as these technologies become prevalent in society effective human-AI collaboration and interaction becomes essential so that the research must focus as much on the human and human society as the AI.”
The work will help maintain and grow the UK’s international position in a highly competitive global market. Success will attract diverse global talent and incentivise further private investment in the UK’s research and innovation system, ensuring greater UK advantage comes from the country’s strengths in science and technology.
Kedar Pandya, Executive Director, Cross-Council Programmes at Engineering and Physical Sciences Research Council, said: “The UK’s expertise in the field of AI is a major asset to the country and will help develop the science and technology that will shape the fabric of many areas of our lives. That is why UKRI is continuing to invest in the people and organisations that will have wide-ranging benefit.
“For this to be successful we must invest in research and systems in which can have trust and confidence, and ensure these considerations are integrated in all aspects of the work as it progresses. The projects and grants announced today will help us achieve this goal.” Invest in Nottingham encourages businesses to recognise their achievements by entering the East Midlands Bricks Awards 2023
Invest in Nottingham is encouraging businesses to submit themselves for the East Midlands Bricks Awards 2023, to recognise achievements made over the last year.
Lorraine Baggs, Head of Investment at Invest in Nottingham, said: “The East Midlands Bricks Awards 2023 will celebrate the successes of our thriving property sector over the last year. There is no denying that we have certainly been experiencing a property boom over the last few years with countless cranes appearing across our skyline in Nottingham.
“Major schemes across the city and county are progressing, including the UK’s largest city centre regeneration scheme, The Island Quarter, a 36-acre city within a city.
“We have such a strong network of property and construction companies across Nottingham and I hope they will submit themselves for awards like this one, to recognise the achievements made over the last year.”
The East Midlands Bricks Awards celebrates the region’s property and construction industry, its people, and exceptional developments, and provides the perfect occasion to shine a light on your team, reward their hard work, and boost morale.
With nominations open until Thursday 31 August, now is the ideal time to enter your (or another) business/development for the awards. To do so – click on a category link below or visit this page.
To be held at:
Award categories include:
Thanks to our sponsors:
- Most active estate agent
- Commercial development of the year
- Responsible business of the year
- Residential development of the year
- Developer of the year
- Deal of the year
- Architects of the year
- Excellence in design
- Sustainable development of the year
- Contractor of the year
- Overall winner (this award cannot be entered, the winner will be selected from those nominated and will also be awarded a year of marketing/publicity worth £20,000)
To be held at:
Students help local employers solve business challenges
More than 90 students from Nottingham Trent University (NTU) have worked with a range of local employers to solve challenges facing their businesses.
Grads4Nottm – in its 9th year – is NTU’s annual initiative highlighting Nottingham as a graduate destination by showcasing the range of businesses and employment opportunities that exist in the city. The event also allows businesses to gain access to the talents and skills of students at NTU.
More than 35 local employers from various business sectors submitted challenges for NTU students to complete and present their ideas at a showcase event.
One of these challenges involved an independent business called The Split Screen Coffee Company, which was started in a mobile camper van in 2015 by Jennifer Walker.
The student team was tasked with helping Jen in Split Screen Coffee’s transition to its new café site at Parker’s Yard on the site of the Framework Knitters Museum in Ruddington. The challenge involved redesigning the café seating area to increase capacity and generate a more welcoming space, while maintaining the museum’s heritage.
Kirsty Lemm, a Graphic Design student at Nottingham Trent University who worked on the project, said: “Grads4Nottm has been an amazing experience, Jen was so welcoming and it was great to learn more about her company but also the history of the venue that we worked with. It was also great to work with my student team-mate in the project who studied a totally different course and collaborate using our different skillsets.”
Jennifer Walker, founder of Split Screen Coffee Company, said: “As a small business owner, it’s so hard for me to find time for a project like this and to get some extra resource to give a fresh look at issues I was having with my business. I was able to access the students’ skills and creative ideas and saving me time and money. I’m looking forward to taking some of their concepts and ideas to the trustees of the museum to hopefully implement them in the near future.”
Another example was a challenge set by Nottingham City of Literature which seeks to ‘build a better future with words’.
The student team was tasked with creating content to promote a literature focused project aimed at young people aged 14-25 years old, encouraging them to engage with reading and writing for pleasure.
Lucy Linton, who studies Broadcast Journalism at NTU, said: “I love media, I love everything to do with reading and literature – so the project took lots of my passions and blended them together. It was fantastic being able to experiment with Adobe software tools and create some great content to promote the project on social media, on popular platforms like Tik Tok.”
Matt Turpin, Communications Coordinator at Nottingham City of Literature, said: “We’re veterans to the Grads4Nottm initiative and I always find it amazing that year on year it just gets better. The student team came on board, understood the task immediately, learned so much about Nottingham City of Literature and incorporated that into an amazing piece of work.
“The students’ use of Tik Tok and the engagement we received has now inspired our team to embrace a platform that previously we were not particularly knowledgeable or comfortable with. They have helped us better understand our younger audience and how we can communicate with them more effectively.”
The Grads4Nottm initiative concluded with each of the student teams presenting their ideas and work at a showcase event held in NTU’s Newton building. The teams were split up into groups and presented their work to several businesses including the business they completed a challenge for.
Valentina Corrao, Employer Engagement Officer at Nottingham Trent University, said: “I think this year’s Grads4Nottm event has been successful, we have received amazing feedback from both the employers and students. The initiative enabled students to gain hands-on experience in professional settings as they work with Nottinghamshire employers. “Previously some participants have ended up being offered full time employment with the employer they worked with in Grads4Nottm. This year at least one employer taking part has offered a placement to one of the students who worked on a project with them which supports our objective to encourage students to stay on in the local area after graduating.”
Warsop Health Hub construction works commence
Construction has started on the new health hub at Carr Lane Park in Warsop that will significantly expand the parish’s leisure, wellbeing and community provisions.
Due to open in June 2024, the new hub will see the installation of a new 15 x 8-metre swimming pool, a splash play area, changing village, a gym, a multi-purpose hall, a café viewing and IT area and community space. A stone’s throw away from the main site will also see the creation of a new and improved multi-use games area due to open in early 2024.
Planning permission for the hub was approved in March 2023, and representatives from Mansfield District Council, the Department of Levelling Up, Housing and Communities (DLUHC), Sport England, Serco/More Leisure and building contractors Pellikaan toured the construction site yesterday (29 June) as work got underway.
The delivery of the council’s £9.2m hub was made possible thanks to key funding agreements secured by the authority from various partners and agencies, including a £1.8m capital grant from Sport England, a £3m allocation from the Government’s Towns Fund and £103,967 from the DLUHC to create a dedicated changing place within the building.
The hub is just one of six projects funded from the £12.3m awarded to Mansfield District Council in 2021 from the Towns Fund allocation.
The remaining funding is coming from the authority directly, with £1.5m from reserves and £3.5m from council borrowing.
Councillor Andy Burgin, Portfolio Holder for Environment and Leisure, said seeing diggers on the site was exciting and overwhelming.
“It has been a long time in the making, but I am elated to be here on site today and see for myself the works getting well underway to make way for the new community hub,” he said.
“This project has been a partnership effort from the beginning, with stakeholders and funders and the Warsop community. They have been telling us what they wanted to see in the parish, and now we are delivering it here. The change and impact this will bring to the community will be long-lasting and revolutionary.
“My thanks go out to everyone who has made this possible, and I look forward to seeing the project progress.”
The Warsop Health Hub project aligns with the delivery of three of the council’s corporate priorities: wellbeing, aspiration and place.
Levelling Up Minister Dehenna Davison said: “I’m delighted that work has started on a major community hub in the heart of Warsop, which is one of six projects we’re supporting through our £12.3 million Town Deal for Mansfield.
“The Warsop Health Hub will be a huge asset for the area, helping to boost people’s wellbeing with a new swimming pool and gym. It will also be furnished with fully accessible changing facilities, thanks to an additional £100,000 in government funding.
“This exciting project will be enjoyed by the community for years to come and again demonstrates the real benefits levelling up can provide for local people.”
In 2019, Sport England jointly funded the Living Well in Warsop study with the council, which reviewed the leisure and community provision in the parish. Residents, businesses and organisations were all asked for their views at consultation events and in a community-wide survey. The outcome was a list of suggestions and ideas that would lead to the right mix of activities, services and facilities to meet the community’s needs.
Lisa Dodd-Mayne, Executive Director, Place at Sport England, said: “Sport England’s Uniting the Movement strategy aims to provide opportunities for all people to access sport and physical activity, regardless of their backgrounds, bank balance or postcodes and we know that having accessible and available facilities is essential in achieving this.
“We are pleased to see work starting on the Warsop Health Hub, which is one of the first facilities to use our new Leisure Local concept. The opportunities to take part in sport and physical activity that will be made possible by this development are exciting to see and will benefit the local community for years to come, helping people lead healthy and happy lives.”
In March, Mayor Andy Abrahams took an executive decision to confirm the total project costs, the council’s borrowing amount and to make Serco Leisure Ltd/More Leisure Community Trust the centre operator.
Brian Taylor, Chair of More Leisure Community Trust, added: “We’re very proud to have been chosen as operators for this exciting new community-focused health hub, which looks certain to be warmly welcomed by local residents when it opens in June next year. We look forward to playing our part in improving the health and wellbeing of the people of this parish.”
Kings Mill Reservoir transformation begins
Work on the Kings Mill Reservoir Towns Fund project has started. The first phase of building works will see the construction of an extended car park, increasing capacity for the new building and outdoor adventure facilities.
An additional 136 parking spaces are set to be created bringing the total to 260 once complete. The overflow carpark will be closed from Monday 3 July for the duration of this phase of work.
The project forms part of Ashfield District Council’s £62.6m Towns Fund programme.
Construction of the new facility on the site of the old sailing club building, is due to start in a few months. The new building will provide modern, accessible changing facilities for water sports and a meeting/training room on the ground floor, with restaurant and function space on the first floor.
The plans will support activities including sailing, paddleboarding, kayaking, and open water swimming at the reservoir. The new offering will allow more residents and visitors to Kings Mill Reservoir the opportunity to access water sports.
Since submitting the initial planning application, the Council has been undertaking surveys and site investigations at the sailing club building, including bat surveys, to ensure wildlife is protected and habitats are enhanced by the new facility. The new building will feature new bat roosts.
The new facilities are due to be completed during the summer of 2024. The new leisure facilities will complement the expansion of the Mill Adventure Base to include new outdoor activities.
The plans for the well-loved reservoir are just one of the 16 projects being funded by the £62.6m Towns Fund. The Council was successful in securing the funding from the government in June 2021, and since then have been developing business cases, designs, and plans for the planned projects.
Cllr Samantha Deakin, Executive Lead for Parks and Environmental Services, said: “The plans for Kings Mill Reservoir are extremely exciting. We can’t wait to be able to open up the offer of a variety of great new activities to visitors.
“The location of the new restaurant offering will be a fantastic addition to the reservoir and will bring in even more visitors to Ashfield. I want to reassure residents that the demolition and construction phases of this project will be done sensitively to ensure none of the resident wildlife will be disturbed.”
Cllr Matthew Relf, Executive Lead for Growth, Regeneration and Local Planning, said: “This is another milestone for our plans to make Mill Waters one of the top tourist destinations in the East Midlands. We want to hear from clubs or individuals, who are keen to get involved in developing and running water sports activities at the reservoir. Please get in touch with the team if you are interested.”
Lindum Construction Manager, Mark Robertson, said: “We are looking forward to getting started on this project, which will result in a superb leisure attraction for local people. The restaurant will be in a fantastic location with views of the water. We have a strong pipeline of local subcontractors who will be working on this scheme with us so the Council’s investment will continue to circulate within the economy.
“It is good to be working with Ashfield District Council again. Lindum has delivered several housing schemes for the authority over the past three years and we’ve developed a strong relationship, based on openness, trust and successful delivery of projects.”
Growth Hub celebration event sets out post-ERDF business support plan
It was ‘business as usual’ as success stories were shared at the conclusion of a growth project that has supported 4,000 local firms.
The sold-out celebratory event in Leicester marked the end of a partnership project part-funded by the European Regional Development Fund (ERDF).
Delivered through the Business Gateway Growth Hub – and run by Leicester City Council, Leicestershire County Council, East Midlands Chamber, and the LLEP – it has seen almost £6m invested in programmes and grants to develop local SMEs since 2019.
Event attendees also learned how future support will be channelled through the Growth Hub as it continues to provide guidance and signposting to available resources.
Councillor Adam Clarke, Deputy City Mayor – Climate, Economy and Culture, said: “The entrepreneurial nature of our economy is one of, if not the, city and county’s biggest strengths.
“Our business community is resilient, adaptable, and creative, and the LLEP Business Gateway Growth Hub plays an important role in supporting that.”
More than 100 delegates were at the Holiday Inn event, which was hosted by Jim Willis, Managing Director of digital agency Bulb Studios.
Presentations detailed the impact of the ERDF partnership, setting out how 4,000 businesses accessed support over the last four years, with 212 jobs created, and more than £2m in grants secured for businesses. A further £3.6m in private sector funding was also secured.
New LLEP CEO Phoebe Dawson said that provision would continue as the Growth Hub moves into a post-ERDF phase from the end of June.
“What you can expect from the Growth Hub remains the same,” she told delegates. “It’s business as usual.
“We want to work with you and your businesses in the future, providing support and guidance to help you grow.”
Barrie Walford, Economic and Regeneration Manager at North West Leicestershire District Council, described how plans to use UK Shared Prosperity Fund (UKSPF) money in the county have been submitted and approved, with several district-based programmes already in the pipeline.
And Peter Chandler, Head of Economic Regeneration at Leicester City Council, explained how the authority will continue to prioritise business support and is investing more than £3m from UKSPF into support for local businesses.
The event also heard the story of Mohammed Essajee, owner of Interiors by Design, and Scott Burton, General Manager at TEK Seating.
Keynote speaker Tajinder Banwait described the journey of her fragrance brand, Urban Apothecary London, from a kitchen table in Leicester to 30 international markets.
Tajinder, honoured with a Queen’s Award for Enterprise last year in recognition of excellence in international trade, also described her new brand, Palette London, before sharing growth tips with delegates.
Rising corporate profits fuels inflation crisis
Rising corporate profits have emerged as a key driver of Europe’s inflation crisis, surpassing the impact of the energy shock caused by the war in Ukraine, according to analysis conducted by the International Monetary Fund (IMF). The research conducted by IMF staff reveals that profit increases accounted for nearly half of the eurozone’s post-pandemic inflation rate increase, with companies raising prices more than the spiking costs of imported energy.
This finding is likely to be seized upon by trade unions as evidence of “greedflation,” as they advocate for pay raises for their members. Gita Gopinath, the IMF’s deputy managing director, has called on companies to abandon efforts to protect their profit margins in the face of higher costs. She emphasized that for inflation to decrease rapidly, firms must allow their profit margins, which have risen significantly in the past two years, to decline and absorb some of the expected rise in labour costs.
The analysis by the IMF comes in the wake of British companies reporting increased profits. Associated British Foods (ABF), the owner of Primark, raised its outlook for the year, citing that shoppers had absorbed price increases for food and clothing. Despite the volume of goods sold remaining relatively flat, the value of ABF’s sales increased by 16% in the quarter to May 27. Eoin Tonge, the finance director, stated that the company had sacrificed some profitability to stay true to their consumers by not raising prices in line with inflation.
Inflation in the food sector has shown signs of easing, with supermarkets cutting the prices of household staples. Overall shop price inflation in the UK slowed to 8.4% in June from 9% in May, according to the British Retail Consortium. Food inflation also decreased to 14.6% in June from 15.4% in May, marking the second consecutive deceleration. These trends indicate that prices in shops may have reached their peak.
The IMF’s Gopinath emphasized that historical trends indicate workers are likely to raise their salary expectations in order to protect their level standard of living. Workers should experience some wage catch-up as they attempt to make up ground lost due to the pandemic. IMF experts noted that a 5.5% pay increase would be required to bring real earnings back to their pre-pandemic levels by the end of the following year. For inflation to reach the target level, however, the profit share of businesses would need to fall to its lowest level since the middle of the 1990s.
The impact of the inflation crisis extends beyond corporate profits and affects workers who are grappling with the rising costs of living. Many individuals find themselves digging into their savings to survive the economic pressures caused by inflation. As prices for essential goods and services increase, households face the challenge of stretching their budgets to cover daily expenses.
The challenge is that businesses can find it difficult to accept earnings declines, especially if the economy is still resilient. Additionally, employees may demand compensation for their actual salary losses. Such dynamics could impede the decline in inflation and exacerbate cost pressures and resource depletion. Companies like Sainsbury’s have promised to lower the pricing of their own-brand products and match those of its competitors in an effort to address the issue.
The government is also taking action. As the cost of living continues to climb, Chancellor Jeremy Hunt has met with the regulators of the grocery stores, water, electricity, and telecoms sectors to make sure savings are passed on to customers.
In conclusion, the inflation crisis in Europe has been mostly driven by increasing corporate profits, exceeding the effects of the energy shock brought on by the conflict in Ukraine. This analysis will probably be cited by trade unions as proof of “greedflation” and as justification for raising worker wages. The IMF urges businesses to accept declining profit margins in order to cover rising labor costs. For governments, corporations, and trade unions, striking a balance that addresses inflation concerns while preserving workers’ living standards and corporate profitability is still essential.
Light Science Technologies benefits from operational improvements as half year revenue grows
Light Science Technologies, the controlled environment agriculture (CEA) technology and contract electronics manufacturing (CEM) group, is benefitting from operational improvements after a year ending with widening losses (loss before tax of £2.72m) despite rising revenue.
In a new update for the six months to 31 May 2023, the company has shown trading in line with expectations, with revenue for the period expected to be £4.4m, up approximately 22% from £3.6m in the same period of last year.
Light Science Technologies said: “The group’s performance reflected the benefits of operational improvements undertaken to improve gross margins, which grew to c.20.9%, compared to 17.7% in FY 2022. Improving market conditions and reduced supply chain constraints within the CEM division underpinned this increase while the group also successfully reduced overheads by approximately 20%, as part of the previously announced cost base realignment.”
The CEM division was the group’s predominant revenue generator, building on record sales achieved during the firm’s 2022 financial year.
Within the CEA division, meanwhile, the group continued to develop its portfolio and potential market reach. The business noted there is still material uncertainty over the level and timing of revenue in the CEA division.
With a view to building on opportunities within both divisions, management is evaluating acquisition opportunities that are cash flow generative.
Looking ahead, the company currently anticipates meeting full year expectations as it benefits from further cost savings during its second half, at the same time as continuing to develop and convert opportunities. Currently, Light Science Technologies’ sales pipeline of quoted work is over £45m, of which there are forward orders and contracts worth £18.8m.Tungsten Properties agrees renewal of £50m revolving credit facility to fund pipeline of logistics opportunities
Cain International, the privately held investment firm, has agreed the renewal of a £50 million revolving credit facility with Leicester-based Tungsten Properties for a further three years. The renewal follows the successful deployment of the initial facility in 2020 of £36 million.
Cain’s partnership with Tungsten began in 2019, with the initial facility having financed four successful schemes with a GDV of approximately £61 million. Coupled with Tungsten’s balance sheet, the first facility supported the development schemes across the UK at Witham, Witney, Oakham and Lutterworth, which totalled more than 440,000 sq ft of industrial and distribution space. The new facility will fund a pipeline of logistics opportunities across the UK.
The credit facility transaction has been agreed as part of Cain’s Fortwell strategy, borne out of Cain’s acquisition of Fortwell Capital in 2020, which extended Cain’s lending platform’s offering to development loans ranging between £10 million – £750 million. The strategy focuses on development loans of £10 – 50 million across residential, commercial, and alternative sectors in the UK.
Nikos Yerolemou-Ennsgraber, director – real estate debt at Cain International, said: “This transaction presented an opportunity to expand our reach across a sector with fundamentals we believe in, while meeting the growing demand for high-quality logistics assets across the UK delivered by reputable developers.
“At its heart, Cain is a partnerships business, and we are delighted to strengthen our relationship with Tungsten through this facility.
“With Fortwell now fully integrated into Cain’s real estate debt business, we believe that our holistic service offering provides exciting opportunities for continued deployment of capital with existing clients and new ones, across the full range of loan sizes and financing structures.”
Jeff Penman, Managing Director, Tungsten Properties, added: “In the last three years, there’s no doubt that our £50m Revolving Credit Facility with Cain has enabled us to be more agile and secure great quality development opportunities. Also, it has allowed our equity to be spread across a greater number of projects.
“This RCF renewal for a further three years gives us greater firepower to respond to and consider opportunities as soon as they present themselves. We look forward to continuing this partnership with Cain and seeking out strategic opportunities to deliver much-needed industrial and distribution space.”
Simple customs declarations top trade priorities for Government as majority of small firms outsource paperwork to intermediaries
A majority of small international traders do not have the dedicated manpower required to handle complex customs paperwork and need to turn to high-cost intermediaries, according to new research by the Federation of Small Businesses (FSB).
FSB’s Customs Clearance report finds that the smaller the businesses, the less likely they are to have in-house resources for customs and trade – only 9% of small firms have a dedicated staff member or team. Of these firms, four in ten (38%) have more than 50 employees.
Seven in ten (71%) small exporters and importers say they use an intermediary for at least some of the process of handling customs declarations, compared to just a quarter (24%) that handle the entire process in-house.
Fast parcel operator (60%) is the most widely used type of intermediary by small international traders, followed by freight forwarder (50%) and customs agents/broker (26%).
As businesses are adjusting to the new UK-EU trade relationship, small international traders say they have been asked to pay fees attributed to post-Brexit paperwork, but in many cases there is a lack of clarity from intermediaries on what exactly these extra costs are for.
A third of respondents cite high intermediary fees as a challenge for overseas trade.
Despite facing higher costs, many small businesses say they will continue to rely on intermediates to export and import. Four in ten (39%) explain this is because they do not have the expertise required to handle customs declarations, while over half (57%) say footing the extra bill would free up their time for other tasks.
FSB sets out a list of recommendations to bring down the costs and barriers of international trade in the report, including:
- Building a small business-friendly Single Trade Window, an online portal delivering a ‘once and done’ approach to Government data collection.
- Targeting business support towards those with high export potential, and those in sectors that say they find a lack of guidance particularly difficult.
- Monitor potential anti-competitive behaviour resulting from supply chain disruption via the Competition and Markets Authority Five Eyes working group.
- Adopting a ‘think small first’ approach to customs policy development, including robust piloting and staggered implementation timelines. Government should also commit to raising the de minimis customs duty threshold to £1,000.
Midland Lead up for national award
Following significant investment in their people practices, Swadlincote-based manufacturer, Midland Lead, has been shortlisted for a national award for HR’s professional body, the Chartered Institute of Personnel and Development. The lead manufacturer has been shortlisted for Best SME People Management Initiative for the way they engage and develop their people.
Family-run company Midland Lead produces over 15,000 tonnes of lead annually for UK and overseas clients. It is a significant employer in the area, offering a variety of office and manufacturing jobs and apprenticeships. This year marks the company’s 40th anniversary.
Since 2015 Midland Lead has worked with Loates HR to create a values-led culture, termed “Team Midland Lead” to build a happy, engaged, and healthy workforce.
Manufacturing can be challenging to recruit and retain staff, so they set out to create a flexible, multi-skilled, committed, happy workforce that delivers exceptional customer results.
The people-led initiative included the rollout of values, recruiting new starters based against these, developing a pay progression structure for operators and introducing a suite of benefits such as life insurance and enhanced holiday and sick pay.
Coupled with significant investment in training opportunities, the introduction of one-to-ones and employee focus groups, Midland Lead is also a Real Living Wage employer.
With a focus on wellbeing, staff can access GP appointments, a bike-to-work scheme, Costco membership and access to lunch and learn workshops on nutrition and adopting a healthy lifestyle.
The investment in staff has reaped rewards. At the end of last year when faced with crippling energy costs, the company asked employees to design their shifts to help reduce energy bills but also improve operators’ work-life balance; the resulting changes have reduced the company’s energy consumption by 20% and means employees can now finish early on a Friday.
HR manager Francoise Derksen said: “We are absolutely delighted with the news that we have been shortlisted for this prestigious CIPD award and truly value working together with our team and local businesses to make Midland Lead a great place to work and thrive.
“It’s great to hear that the judges have recognised Midland Lead for our long-term approach to people development, establishing us as an employer of choice, an excellent manufacturer driven by a clear business need to recruit and retain the best to deliver the best for our customers.”
Director Sarah Loates, from Derby-based Loates HR Consultancy, said: “We have worked closely with Midland Lead for seven years and have been immensely impressed with their unwavering commitment to make their workplace a better place for all. We are so proud that our professional body has recognised their dedication.”
The CIPD award for Best SME People Management Initiative recognises businesses with fewer than 250 employees that have transformed how they manage and develop their people to support the workforce and broader business objectives.
The judges specifically looked for evidence of the impact of Team Midland Lead’s approach on business success, including the benefits for employees, customers, suppliers and overall organisation performance.
Tesla named as one of the most popular EVs for salary sacrifice
Tesla is the car brand still dominating the UK market and there appears to be no imminent expectation of that changing, according to the ‘EV Statistics Dashboard’ created by Pink Salary Exchange. The US-based electric vehicle (EV) brand has taken over the EV market in recent years, and according to the monthly figures compiled by the salary sacrifice experts, that stranglehold isn’t showing any signs of being released.
There was a time when the Nissan Leaf was the go-to EV for anyone thinking of making the switch to battery-powered and zero emission driving, but Tesla has completely swept the Japanese brand aside, particularly since the release of the Model 3 executive saloon car in 2017. And at the end of 2021 the UK was taking its first deliveries of the Tesla Model Y, a compact SUV, which has since upstaged the Model 3, and that can be seen in the handy stats dashboard updated each month and freely available on the Pink Salary Exchange website.
The most search-for EVs
The top five most searched-for brands on the Pink Salary Exchange platform has remained unchanged for the last two months. The top two places have been taken up by Tesla’s Model Y and Model 3 respectively, while third place was the Polestar 2, fourth place was the Skoda Enyaq and fifth place was the Audi E-Tron. April and May saw these top five places remain the same, while in March the only change was the Porsche Taycan replacing the Skoda Enyaq.
Indeed, the only other models to make the top five most searched for cars in 2023 have been the MG Motor MG4, the Kia Niro and the BMW I4.
One million EV target in reach
Tesla CEO Elon Musk vowed to concentrate on sales growth rather than profitability in 2023, and hence has made the Model Y and Model 3 much more affordable in the UK, which might explain their dominance in the figures. But the Pink Salary Exchange EV Statistics Dashboard does highlight the fact that virtually every major vehicle brand has an EV on the market now, and it also shows that the EV market is well on the way to hitting its one million sales target by 2024.
In May 2023 there were 786,000 EVs on UK roads, but experts do think the cost of living crisis in 2023 may have put a temporary halt on EV sales. In May 2023 EV sales accounted for 17% of the overall UK vehicle market, while back in December 2022, the dashboard shows us that this was as high as 33%. Either way, the EV is an unstoppable force. Keep up to date with the latest EV statistics via the Pink Salary Exchange EV Statistics Dashboard.
OMEETO marks third anniversary with move to larger offices and first degree apprentice
Commercial property agency OMEETO has marked its third anniversary with the appointment of its first degree apprentice and the move to new larger offices.
Director Chris Wright, who set up the company in 2020 with more than 23 years industry experience in senior roles and national and regional companies, has been joined by Ruby Scott Mullen.
Ruby, a former pupil at Ecclesbourne School in Duffield, plans to study part time for a degree in chartered surveying with real estate at Nottingham Trent University alongside gaining practical work experience with OMEETO.
The company has also moved into larger offices at The Quadrant in Beeston town centre – providing the growing team with easy access to its growing portfolio of commercial property across Nottinghamshire and Derbyshire.
Mr Wright explained: “We have grown steadily over the past three years and I am delighted to be in a position to invest in future professional talent by offering Ruby a degree apprenticeship with the company.
“Our success so far has been rooted in our fresh approach to commercial property sales and lettings by utilising the latest digital marketing tools and the flexibility of offer for our clients. Ruby’s skills and enthusiasm are already contributing greatly to our services.
“The move to The Quadrant also gives us the capacity to grow the team further as we move forward and gives us even easier access to the Nottingham and Derby areas where we are making our mark.”
Ruby concluded: “Having researched the profession and undertaken internships at several regional firms, I am very grateful for this opportunity at OMEETO to essentially earn while I learn and gain my qualifications alongside working directly with clients and supporting all the back-office functions.”
Boots to shut 300 stores
Nottingham-headquartered Boots is planning to close 300 shops as it looks to evolve its store estate.
Over the next year Boots will continue to consolidate a number of stores in close proximity to each other, saying this will allow the company “to concentrate its team members where they are needed and focus investment more acutely in individual stores with the ambition of consistently delivering an excellent and reliable service in a fresh and up to date environment.”
No jobs are expected to be lost, with employees offered roles at nearby shops.
The news comes as Boots announced its third quarter retail sales were up 13.4% year on year.
More customers are shopping at Boots more often, with the number of transactions up both in store and online, with footfall growth ahead of the wider retail market. City centre flagship and travel stores saw the biggest increase, while digital sales also continued to grow, up 25.2% year on year.
Seb James, Managing Director, Boots UK and ROI, said: “Our focus on offering our customers the best in healthcare and beauty, together with a continued commitment to great value, has been well received, and it is lovely to see more people choosing to shop with Boots. It is particularly pleasing to see our owned brands proving popular, including an exceptional No7 performance. I would like to thank all of our team members for their hard work in delivering these results.”
