New Ashby-de-la-Zouch office for East Midlands solicitors
East Midlands solicitors Smith Partnership has opened an office in the market town of Ashby-de-la-Zouch.
Smith Partnership – which already has offices in nearby Swadlincote and Burton, as well as Leicester, Stoke-on-Trent and Derby – believes Ashby represents a perfect location for its sixth outlet as it looks to contribute further to the area and regional economy.
Jordan Williams, conveyancer, will head up the office in Kilwardby Street, Ashby, after the company seized the opportunity to take up office space there. “One of my associates owns a mortgage business in Ashby and he thought we would be a perfect fit to share the office space,” said Jordan.
“We jumped at the opportunity. We are already in the surrounding area but this opens up a new catchment for us and allows us to be part of the Ashby community.”
Managing partner at Smith Partnership, Kevin McGrath, said: “We were delighted to have the chance to get office space in Ashby because it is a really key location for us.
“While much of our work may still be done over email and phones, we know how important it is for people to be able to come to a convenient office to see us face-to-face and we are delighted they can now do that in Ashby as well.”
Midlands Family Business Awards back for 2023
The UK’s only independent, not-for-profit annual awards for family businesses, the Midlands Family Business Awards is back for 2023.
Returning after a three year break due to the pandemic, the awards is now entering its second decade to celebrate and shine a light on our region’s great family businesses.
Organised by The Wilson Organisation – a third-generation Nottingham-based family business – the Awards are the Midlands’ only initiative dedicated to celebrating and recognising the success, achievements and innovations of the region’s family run and owned businesses.
With 10 categories to choose from, there are accolades suitable for businesses of all sizes, across all sectors. Categories include Family Business of the Year, Best Small Family Business, Rising Stars, Employer of the Year, and Director of the Year. There is also Fastest Growing Family Business, Construction and Property Excellence, Manufacturing Excellence and Digital Excellence.
New for 2023, the organisers have added the Sustainability Award, sponsored by Flame UK, which will highlight the very best of the region’s environmentally-minded family businesses.
The Wilkins Group was crowned Family Business of the Year at the 10th Midlands Family Business Awards in 2019 and is confirmed as headline sponsor for 2023.
Category sponsors include Buckles Solicitors, Family Business Futures, Human Alchemy, PwC, Shakespeare Martineau and Ward.
Submissions are judged by an independent panel led by a family business leader and all finalists are entered into the People’s Choice Awards, which is decided purely by public vote.
Move Against Cancer is the chosen charity that the awards will be supporting this year, with all profits from the awards evening donated.
The black-tie awards ceremony is being held on 29 June and will be a summer event held at Kelham Hall near Newark. John Pye & Sons are sponsors of the Drinks Reception at the event.
Having previously attracted over 300 guests, including sponsors, judges and finalists, the evening is a real celebration of the achievements of family businesses and is the ideal opportunity to bring teams together to enjoy an evening hearing positive stories and meeting other family-owned businesses.
Group Managing Director of The Wilson Organisation and Awards co-founder, Charlotte Perkins, said: “Myself and my sister Annabel are so pleased to be bringing back the Midlands Family Business Awards, after a three year break.
“It’s fantastic to have our current Family Business of the Year, The Wilkins Group, as our headline sponsor. Thanks to Justin and the Wilkins family, we’ll see them hand over the crown to their successor, which will be a very special moment to start our second Awards decade.
“We have taken the opportunity to mix things up a bit. We have always held the Awards Ceremony and Dinner in November, but decided that a summer event would give us the perfect opportunity to have our celebration in summer-style.
“Putting your family business forward for an award can reap a host of benefits and rewards beyond the trophy and title so I encourage as many as possible to get involved and submit an application.
“There are so many family businesses that are having a remarkable impact on the Midlands region and beyond, and we can’t wait to see what brilliant work they’ve been doing. I wish all the businesses who enter the very best of luck!”
All entrants for the awards will receive a free annual membership for online platform Family Business Futures. Created in 2020 by The Wilson Organisation to support the Awards, it provides a unique opportunity to learn from family business experts, and to discuss family and business issues in a safe online environment, with a like-minded network.
Entries close on March 3. To enter, visit www.familybusinessawards.co.uk
BGF strengthens portfolio team with senior hire
BGF – the growth capital investors – has strengthened its position in the regional markets with the senior appointment of Jill Williams.
Jill joins BGF’s portfolio team from Mercia Asset Management, where she was deputy fund principal, private equity funds & head of ESG. She brings more than 15 years’ experience in private equity investment to the team, having previously worked at RJD Partners in London, starting her career at PwC in corporate finance.
In her previous roles, Jill has focused on the UK’s mid and lower-mid markets, working across the UK’s regions as well as a diverse range of sectors, including professional and financial services, logistics, manufacturing, digital, education and training, leisure and travel, and healthcare.
With experience as both a deal leader and portfolio company board member, she has a deep understanding of the growth investment lifecycle, from origination, execution, portfolio management and realisation, as well as the implementation of strategy into practice.
At BGF, Jill will work closely with entrepreneurs and business owners across the North West and Midlands as part of the portfolio team – managing portfolio company investments, delivering and maximising value creation as a board member, and preparing portfolio companies for long-term growth.
Ben Barker, head of portfolio, said: “We’re delighted to welcome Jill to the team. Her experience in private equity investment, combined with her broad sector and strategic insight, means she is perfectly positioned to support BGF-backed businesses, as they look to grow in 2023 and beyond. The knowledge and value she will add to boards will be hugely important in helping North West and Midlands-based businesses realise their ambitions.”
Jill said: “BGF has created a real point of difference in the market with an unwavering drive to back ambitious entrepreneurs and business owners across a range of sectors and regions, with a patient and long-term approach.
“In the current climate, there is a real opportunity to create value in portfolio businesses, and I’m looking forward to building relationships with management teams to support them on their growth journey.”
Holmewood site acquired to deliver £60m, 247-home development
Chesterfield-based Avant Homes Central has acquired a 28-acre site in Holmewood to deliver 247 new-build homes with a gross development value (GDV) of around £60m.
Called Earl’s Park, the development is located just a 10-minute drive from Chesterfield town centre on Tibshelf Road.
The development received planning permission in December last year, and will comprise a mix of two, three, four and five-bedroom homes.
Work is due to start on site in February.
Of the 247 homes, 20 per cent have been designated to affordable housing. Avant Homes has also committed to community contributions of around £2.3m towards the provision of local education and healthcare.
The first homes are scheduled to be ready for occupation in September with a showhome expected to open this summer. The overall construction period is expected to take approximately four and a half years.
The Imps post £2m loss despite rising turnover
The Imps have posted a £2m loss in annual results, despite turnover being on the rise with crowds returning to stadiums.
Lincoln City Football Club said turnover in 21/22, its first full season in League One with fans in attendance, was at its peak over the past four years, growing to £6.9m from £5.6m in the year prior on the back of significant increases in matchday and commercial/hospitality revenues.
While the football club incurred an increased loss, of £2m for the year, still affected by the aftermath of the pandemic and with all expenditure significantly increased, the Imps’ losses amounted to £186k less than the 2018/19 League Two promotion season.
Lincoln City Football Club finished the season in 17th position.
Nottingham spin-out raises almost £1m to commercialise Tourette’s wrist device
A new wrist device to help control Tourette’s Syndrome is a step closer to being commercialised after University of Nottingham spin-out company Neupulse raised almost £1m in additional funding.
Neupulse completed a second round of funding in December 2022 and raised £918,000 from existing investors and groups of High Net Worth individuals from around the world.
The investment will start the development of the commercially available wearable for use by individuals with Tourette’s Syndrome to stop tics.
“This is an exciting time for the company as we move forward to the next stage of our development by starting to design the wearable that will bring choice to thousands of individuals that have Tourette’s Syndrome,” said Paul Cable, chief operating officer at Neupulse.
The spin-out company has used research from scientists from the University of Nottingham’s School of Psychology that uses repetitive trains of stimulation to the median nerve (MNS) at the wrist to entrain rhythmic electrical brain activity – known as brain-oscillations – that are associated with the suppression of movements. They found that rhythmic MNS is sufficient to substantially reduce tic frequency and tic intensity, and the urge-to-tic, in individuals with TS.
Tourette’s Syndrome is a neurodevelopmental disorder that is usually diagnosed between the ages of eight and 12. It causes involuntary sounds and movements called tics. Tics are involuntary, repetitive, stereotyped movements and vocalisations that occur in bouts, typically many times in a single day, and are often preceded by a strong urge-to-tic, referred to as a premonitory urge (PU).
“We’re delighted to have secured the funding for the next phase of development. In addition to raising additional investment in the company, we have also successfully completed our double-blind sham-controlled clinical trial of the Neupulse device, demonstrating the effectiveness of the Neupulse device in reducing tics in Tourette syndrome. I very much look forward to developing the commercially available device,” said professor Stephen Jackson, research lead at the University of Nottingham and director at Neupulse.
Since being launched in March 2021 Neupulse has achieved several significant milestones including development of a prototype device for use in a trial that has just been completed; the results of this double blinded study are being analysed and are due to be published later this year. An app is also being developed to support individuals in recording their tics. 400 jobs at risk as Central Co-op plans to close Leicester distribution centres
Central Co-op is planning to close its three distribution centres and garage in Leicester and transfer distribution operations to the Co-operative Group.
The company’s proposal puts nearly 400 jobs at risk, although the food retailer has given a commitment to offer alternative roles to all staff affected.
John Gorle – Usdaw (the retail trade union) national officer, says: “This is devastating news for staff affected by the company’s proposal, our members are deeply concerned about their future employment prospects.
“We will now enter into a period of meaningful consultation where Usdaw reps and officials will interrogate the company’s business case for the transfer of distribution operations.
“We welcome that Central Co-op has given an early commitment to offering alternative roles to all staff affected, both within Central Co-op the Co-operative Group. Our priorities are to avoid redundancies and secure the best support package possible.
“In the meantime we are providing our members with the advice, support and representation they need during this period of uncertainty.”
Central Co-op is one of the largest independent retail co-operative societies in the UK, with a history stretching back over 175 years, over 440 trading outlets and around 7,700 colleagues.
2023 Business Predictions: Bobby Singh Braich, Managing Director of Belvoir, Northamptonshire
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Bobby Singh Braich, Managing Director of Belvoir, Northamptonshire.
The current cost of living crisis is unsettling for all, with our landlords and tenants sharing concerns about keeping up with rent.
The recent release of the 2022 State Of The Lettings Industry report showed that almost half of tenants (46.48%) are concerned that the current economic climate could impact their ability to pay rent as the crisis continues.
Across the country, 2023 will see millions of homes facing financial difficulty and I anticipate this will mean the housing market will slow as buyers – and builders – become hesitant at making large financial investment.
Add to that the recent dramatic hike in mortgage rates and the end of the Help To Buy scheme and it is likely that we will see the previous property boom begin to slow down in the coming months.
The rise in interest rates has seen mortgage rates soar, which will have a knock-on effect on buyer confidence. Landlords will also be impacted by higher mortgage repayments on their properties.
But rather than house prices drop, I believe they are more likely to plateau momentarily, as demand is still there. It is a sellers’ market, as supply remains low.
First time buyers are still likely to struggle to get onto the property ladder with prices of even the smallest properties hitting a record high in 2022. Those who are able are likely to be hesitant with the rising rates and uncertainty.
The Stamp Duty change announced in Kwarsi’s autumn mini budget is one of the only measures to have stayed in place to help buyers. The previous Stamp Duty holiday helped to keep the market buoyant so this could have a positive effect on the market and offer some relief to wary house buyers.
2023 Business Predictions: Sue Knight, partner, Grant Thornton UK LLP in the Midlands
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Sue Knight, partner at Grant Thornton UK LLP in the Midlands.
2022 has been dominated by political uncertainty and volatility, combined with geo-political instability in Europe which caused soar-away inflation. This continues to pose profound difficulty for households and businesses alike as the cost of borrowing has increased and the Bank of England looks to put the brakes on inflation.
With inflation at a 41-year high and casting a shadow over the economy, the last few months and the most recent Autumn Statement were always going to be focused on trying to fix the state of the nation’s finances with a package of tax hikes and spending cuts.
That said, all the tax changes in the most recent Autumn Statement were heavily trailed and the emphasis on energy security, infrastructure, and research and development as drivers of growth will be welcomed across the Midlands.
Also in the Statement, many of us were pleased to see the commitment to invest in HS2 rail staying high on the agenda. The acknowledgement that regional devolution is a key lever of growth was good to hear too. We look forward to learning more about the new ‘trailblazing” devolution deals between the Government and key cities. Levelling-up our economy remains very much a work in progress, with many people in our region struggling amid the current cost of living crisis.
2022 was also a busy year for our Corporate Finance team, with very strong investor demand from UK private equity and more recently international corporates for technology, healthcare and tech-enabled business services companies and businesses with strong ESG credentials.
IT firm’s Chesterfield HQ refurb wins approval
Matthew Montague Architects has secured planning permission for the full refurbishment of Old Birdholme House on Derby Road, Chesterfield – the HQ of technology business, CCS Media.
CCS Media has 13 offices across the UK and has been based in Chesterfield for 40 years.
Chesterfield Borough Council has granted planning permission for internal structural alterations and major refurbishment of the Grade II Listed commercial building.
The refurbishment of the 330 square meter building was specifically developed to enable CCS Media to create facilities that will carry the business forward for the foreseeable future and cement their position as a major employer in the Chesterfield area by providing facilities that enable the business to retain and strengthen the workforce; creating and sustaining employment.
The refurbishment will see an increase in open plan working spaces, improved accessibility and diversity, provision of a new, large, flexible training space and more intelligent energy efficiency. Plus, retaining, exposing and displaying more of the historic features of the building.
Works will begin on site later in the year.
