Toyota Manufacturing UK Charitable Trust supports Safe and Sound
The Toyota Manufacturing UK Charitable Trust has donated nearly £2,000 to Derby-based charity Safe and Sound to support their work with children, young people and families whose lives are affected by exploitation.
The donation will go towards the charity’s expanded youth work programme which includes a wide range of positive activities.
Tim Freeman, trustee for the Charitable Trust and Deputy Managing Director at Toyota Manufacturing UK, said “It is a privilege to be able to support the fantastic work of local charities such as Safe and Sound despite what has been a particularly challenging year for us all. At Toyota, it is important to us to be able to contribute to our local communities in this way.”
Safe and Sound fundraising and marketing officer Lucy Orme was invited to speak at the presentation event.
She said: “We are extremely grateful to the Toyota Manufacturing UK Charitable Trust for their support again this year.
“This donation will be put into our youthwork programme which provides a wide range of positive activities for the children and young people that we work with whose lives have been affected by child exploitation.”
Funding to help accountants achieve further growth following acquisition
A fast-growing accountancy firm is set for further expansion after acquiring a practice in Lincoln.
Jackson Stapleton Accountants of Scunthorpe has doubled its staff numbers to 24 with the acquisition of Fawcett & Co. The firm now plans to expand its services to include wealth advisory, legal services, estate agency and marketing to provide a ‘one-stop shop’ for clients.
The firm has also secured £300,000 funding from NPIF – Mercia Debt Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund (NPIF), to help it invest in new technology and support future growth after the acquisition.
Founded around 40 years ago, Fawcett’s is one of Lincoln’s longest established accountancy practices. The acquisition will allow for the retirement of the two senior partners Rob Merriweather and Kevin Smith, who had managed the business since owner Dennis Fawcett retired several years ago. It will also secure the jobs of the remaining staff and create seven new jobs across the Scunthorpe and Lincoln area.
Jackson Stapleton was set up in 2017 by Mark Jackson-Stapleton, who has over 20 years’ experience in accountancy. Mark says: “Fawcett’s is a well-established and respected name in Lincolnshire and we are delighted to welcome the team on board. The funding from NPIF and Mercia will help us build on the acquisition and pursue our long-term growth plans. Ultimately we aim to offer a full range of professional services and become the practice of choice for fast-growing companies.”
Rebecca Pickering of Mercia added: “Mark is a forward-thinking entrepreneur bringing a fresh approach to the world of accountancy. Jackson Stapleton has grown steadily since its inception and has now doubled in size. The funding will help him to further build the business and pursue his vision to become a one-stop shop offering an integrated service to the region’s business community.”
Interest rates rise comes at difficult time for businesses
The Bank of England has announced that interest rates will increase from 0.5% to 0.75%, with the decision coming at a time when consumers and businesses are dealing with a plethora of rising cost pressures.
East Midlands Chamber Chief Executive Scott Knowles said: “While another rise in interest rates has been expected since the previous increase in December, this latest announcement comes at a difficult time given all the pressures squeezing margins on businesses right now.
“Against a backdrop of growing domestic and global headwinds including Russia’s invasion of Ukraine, it will be viewed by many as a further step in a prolonged period of aggressive monetary tightening at a time when consumers and businesses are struggling under a myriad of rising cost pressures.
“Our latest Quarterly Economic Survey for Q1 2022 shows 80% of East Midlands companies expect prices to go up across resources such as staff, raw materials and energy over the next three months, leading to a very real cost of doing business crisis.
“Cashflow went into negative territory for three out of 10 of our region’s organisations at the beginning of this year and raising interest rates will be another deterrent to future investment – which ultimately is what enables businesses to improve productivity in order to create growth, jobs and wealth in their communities.
“It’s important that the focus should be on using next week’s Spring Statement to tackle this escalating crisis by delaying the national insurance rise and introducing a temporary energy price cap for small businesses.
“This would give firms the headroom to keep a lid on prices, protect jobs and make investment that is so vital to sustaining our economic prospects.”
Alpesh Paleja, CBI lead economist, said: “With ongoing conflict in Ukraine pushing global commodity prices higher and exacerbating supply chain disruption, the MPC are clearly making moves to counter growing inflation. But they will be walking a tightrope in the months ahead, having to both keep price pressures in-check and manage the impact of tighter monetary policy on economic growth – particularly against a background of rising living costs.
“As households and businesses brace for further price rises, targeted support from government will be needed to cushion the blow until the outlook is on a firmer footing. By using the forthcoming Spring Statement to facilitate more investment-led growth – including through the introduction of a permanent investment – the Chancellor can push the UK onto a more ambitious growth trajectory.”
Kitty Ussher, chief economist of the Institute of Directors, said: “Business leaders will welcome the Bank of England’s continuing to take action in the face of rising inflation. Unstable prices add to the cost of doing business, and it is therefore important that the monetary authorities do everything they can to bring greater confidence into the system at a difficult time.
“Our most recent data from our members shows, however, that expectations of future inflation are still rising, so it may be that further corrective action will be needed in the months ahead, depending on how the UK economy is affected by fast-moving events elsewhere in the world.”
Martin McTague, national chair of the Federation of Small Businesses (FSB), said: “This move will mean higher debt costs for many firms at a moment when soaring overheads are threatening futures.
“The economic consequences of the pandemic are still being felt by small businesses, whose ability to make up for lost time and income has been undermined by a vicious cycle of rising costs.
“A lot of small firms have had no choice but to increase prices in response, but this isn’t always an option, especially in sectors still trying to entice customers back, such as hospitality and tourism, and their suppliers.
“At the same time, consumer confidence has plunged and the cost-of-living squeeze has intensified, with record fuel prices and sky-high utility bills meaning loss of disposable income.
“Small businesses increasingly feel that the Government is indifferent to the cost pressures they face. The planned hikes to national insurance and dividend taxation taking effect in a matter of days, alongside an income tax threshold freeze, will, for many, be the final straw.
“Next week’s Spring Statement is the Government’s last chance saloon to mend relations. Increasing the Employment Allowance, upping the small business rates relief threshold on rates, and taking action on surging fuel and utility bills would all help.
“‘Pay as you grow’ options to spread the pressure of debt repayments should be opened up to users of other state-backed loan schemes beyond just bounce-backs. We urgently need to see the Chancellor ease the pressure on the five and a half million small firms and sole traders on which our recovery will depend.”
Anthony James acquires local Nottingham broker
Insurance broker, Anthony James, is expanding again after acquiring a Nottingham counterpart to deepen the community footprint.
Anthony James, which is based in Loughborough, has aligned with Bale Insurance Brokers, in a deal which will bring a wider range of services for the clients of both firms.
Bale Insurance Brokers is celebrating its 50th anniversary in 2022 and the decision to team up with Anthony James has been described as “hugely exciting” by Managing Director Jeff Bale.
He said: “We’re delighted to seal this partnership with such a highly-respected firm as Anthony James. The deal will result in a wider range of services for our clients, including access to more insurance markets and an in-house claims management team.
“Being part of the Anthony James Insurance Brokers group of companies will bring forward access to resource and a dynamic range of solutions for all of our clients’ changing insurance requirements.”
Jeff will have a senior role within Anthony James and maintain client and colleague relationships. A key part of the deal is that Bale will keep its Nottingham office open as usual and all contact details will stay the same.
Steve Boorman, Anthony James Insurance Brokers’ Managing Director, said: “We’re excited to announce this expansion and look forward to welcoming Jeff and his colleagues as part of the team. Bale is a recognised name in the local insurance brokerage world and we’re delighted that their loyal clients will now have access to a wider range of insurance support.”
The last year has been one of major growth for the brokers, with additional businesses brought into the group including Impaqt. This brings together Health & Safety and HR support, to provide its customers with a dovetailed risk management program that runs alongside the commercial insurance arrangements, providing 360 protection.
“For Anthony James, this is the next step in our strategic growth plan,” concludes Boorman. “The integration of Jeff and his team has already begun and we look forward to helping Bale’s clients get the very best insurance advice available.”
Business Gateway welcomes Good Growth result with plans to help small business build on it
The Business Gateway for Leicester and Leicestershire has welcomed the findings published today by Demos-PwC as part of their Good Growth for Cities Index.
The Index saw Leicester achieving the highest ranking of any East Midlands city at 14th out of 50. The index uses indicators such as environment, transport, jobs, high street and shops, skills and new businesses.
Business Gateway manager, Rachel York, said: “It’s very heartening to see the city and county recognised as a great place to start and grow a business. It’s our job to make sure that this potential is realised – particularly in such challenging times globally.
“We’re interested to see that manufacturing is 16% of Leicester’s economy, wholesale and retail is 11.4% and real estate is nearly 12%. This situation means that we have a slightly below average overall rate of economic growth in the region and that’s what we’ll continue to address in the new financial year. We will continue to focus on supporting microbusinesses and very small businesses because they bring variety to our economy and, with the right support, can grow quickly.
“It’s also good to see that the environment and work-life balance are becoming more highly valued. We have offered programmes in Going Green throughout the year and they have proven very popular with our clients, along with our Zellar carbon reduction programme. This focus will continue in our new programme of events to be published soon.”
Mrs York concluded: “We completely agree with Ali Breadon of PwC’s comments that local government, employers and leaders all have a part to play in providing opportunities to grow businesses, careers, and skills. This of course is why the Business Gateway exists – to support growth, at start-up and for many years after.”
The Demos PwC Report can be found here: Good growth – Government & public sector – PwC UK
113,000 sq ft unit sold at Derbyshire logistics development
St Francis Group and ALMCOR have completed on the pre-sale of a 113,872 sq ft prime industrial unit at Horizon 29 to PCT Healthcare Ltd.
The development located adjacent to Junction 29A of the M1 and Markham Vale is being delivered by Bolsover Land Ltd, the second joint venture partnership between St Frances Group and ALMCOR (formerly known as iSec).
This quickly follows the recent sale by the JV of 80 acres of land at Horizon 29 to Bentallgreenoak for the speculative development of 1.2 million sq ft of warehouse and logistics space.
When complete the park will comprise eight industrial/warehouse units from 73,174 sq ft to 250,000 sq ft.
The opportunity to purchase the site in Bolsover allows PCT Healthcare (trading as Peak Pharmacy) to consolidate their depots into a purpose-built unit.
Horizon 29 was acquired by Bolsover Land as a brownfield site in need of extensive remediation and with the help of public sector funding support from North East Derbyshire District Council, Bolsover District Council, Derbyshire County Council and the D2N2 LEP, the developers recently completed extensive infrastructure works to regenerate the site and create 4 development ready plots ready for immediate development.
Gareth Williams, development director at St Francis Group, part of the Joint Venture and who oversaw negotiations, said: “Large regeneration projects have a long lead-in time and Horizon29 was no exception, so securing the first occupier is an exciting milestone.
“On behalf of the Joint Venture, I’m delighted to have reached agreement with PCT Healthcare and look forward to working with them on this part of their next chapter. Work on site will begin in June and the new unit will be handed over in April next year.”
CBRE and Knight Frank acted for the Joint Venture.
Mike Baugh, senior director, CBRE Industrial team Leeds, said: “It was great working with our clients Bolsover Land Ltd on this project and to advise on the first unit to be built at Horizon29, a scheme that will quickly become an exciting new business location. PCT and their acquisition team at WT Gunson were a pleasure to deal with.”
Joe Cattee of PCT said: “I’m delighted to have managed to get this acquisition over the line. The possibility of relocation to this site completely revolutionizes how Peak Pharmacy operate.
“The pressures on the business over the last 18 months have been extreme to say the least, and by having the ability to locate all our supply depots into one location, and free up capacity across our Pharmacy network, our colleagues and patients should see these pressures reduced and a better service, and atmosphere for both should follow.
“I’m very thankful to our legal representation CMP Legal, based in Chesterfield, and our Consultants team, WT Gunson, based in Manchester for their continued support in the development of our business.”
Jack McCabe, senior consultant at WT Gunson, acted for PCT Healthcare Limited.
New report spotlights lack of women at top levels in Midlands businesses
Women in business leadership across the Midlands is the focus of the Midlands Engine Quarterly Economic Briefing tomorrow – an opportunity to celebrate women in leadership positions across the region, and spotlight areas where barriers to female leadership exist and how they can be addressed.
The briefing follows the release on International Women’s Day of a revealing new Midlands Engine partnership report – Women in Business Leadership in the Midlands. The research was conducted in conjunction with the University of Wolverhampton and highlights the lack of women in business leadership positions in the region, including the low percentage of women running small businesses, and details the barriers women currently face.
The report’s findings include:
- Amongst the top 350 Midlands companies, there are 169 companies with male-only boards. This means 48% of the largest 350 companies by turnover in the Midlands do not have a woman on their board.
- Women hold 15.8% of directorships in the top 350 public and private companies in the Midlands, which is lower than the UK’s large public companies.
- This falls to 7.8% of executive directorships in the Midlands’ top 350 companies, compared to 13.7% and 11.3% in FTSE100 and FTSE250 companies respectively.
- Companies with female executive directors are less prevalent in Midlands100 at only 12%, compared to 27% of UK FTSE100 companies.
New research finds Leicester best positioned city for economic growth in the East Midlands
Leicester has placed as the highest ranked East Midlands city in the the Demos-PwC Good Growth for Cities Index, which ranks 50 of the UK’s largest towns and cities (plus the London boroughs as a whole), based on people’s assessment of 12 key economic wellbeing factors.
It achieved a ranking of 14th out of 50 and is followed by Derby (ranked 23rd), Nottingham (ranked 34th) and Lincoln (ranked 35th).
The index uses a series of indicators including safety, income distribution, income, health, work-life balance, environment, transport, jobs, high street & shops, housing, skills and new businesses.
Each indicator is weighted relative to how important it is considered by the 1,000 people surveyed as part of the study. In comparison to last year’s report, the importance given to these indicators by the members of the public who have been polled has shifted considerably.
Jobs and skills, two of the most important variables last year, see significant decreases in their importance in the updated Index. In contrast, the environment and income distribution have seen significant increases. For the first time, two new indicators – safety and high street and shops – have been added to the index.
The index found that Leicester ranked above average for work-life balance, income distribution and safety, and was around average for indicators including jobs, health, new business, house prices to earnings, homeowner occupation rate, transport and environment.
The average annual economic growth rate as measured by Gross Value Added (GVA) on cities in the Midlands region is 6.9% in 2021 – below the UK average rate of 7.3% in 2021. Data shows that across the East Midlands, manufacturing, wholesale & retail, and real estate make up the highest proportions of cities’ economies.
For example, 23.8% of Derby’s economy is attributed to the manufacturing sector, which is among the highest in the country. Research indicates that this partly drove lower than average estimated growth rates in 2021, as manufacturing, like many other sectors, faced challenges through the pandemic such as supply chain and logistical issues and reduced workforce capacities.
Elsewhere in the region, manufacturing makes up 16.1% of Leicester’s overall economy, 14.8% in Lincoln and 12.2% in Nottingham. Wholesale and retail comprises 12.4% in Derby, 11.4% in Leicester, 12.7% in Lincoln and 13.2% in Nottingham. Finally, real estate accounts for 11% in Derby, 11.9% in Leicester, 12.2% in Lincoln and 11.2% in Nottingham.
Ali Breadon, senior partner for PwC in the East Midlands, said: “We’re emerging from the pandemic with a new set of priorities, largely focused around fairness, the environment and work-life balance. In concert with the vision set out in the Levelling Up White Paper, local government, employers and leaders all have a part to play in providing opportunities for people to grow their businesses, careers, and skills in cities, towns, and communities right across the East Midlands.
“We see a clear theme across Midlands cities of manufacturing, retail and real estate accounting for larger sections of our regional economies. As the research suggests, this contributes to a slightly below average overall rate of economic growth in the region. That in itself presents both challenges and opportunities for the local business community with the identification of growth opportunities.”
How the Midlands fares on priorities for good growth
As a whole, cities in the Midlands performed well on safety, where six out of eleven cities (Derby, Leicester, Milton Keynes, Nottingham, Stoke-on-Trent, and Wolverhampton & Walsall) scored above average. Transport sees four cities (Derby, Lincoln, Northampton and Peterborough) score above the national average. Four cities (Leicester, Lincoln, Peterborough, and Wolverhampton & Walsall) scored above the index average on the income distribution indicator, with the other cities at around average.
However, this positive performance is also coupled with lower scores in jobs, with five cities (Birmingham, Northampton, Nottingham, Peterborough, and Wolverhampton & Walsall) coming below the national average.
Mortgage broker makes new home at Friar Gate Studios
A specialist mortgage broker has made its fourth move within the Connect Derby portfolio of managed workspaces.
Create Finance, which was founded in 2015 by mortgage broker Gindy Mathoon, has taken advantage of the relaxation of rules allowing non-creatives to take office space at Friar Gate Studios and moved his 23 strong team of brokers to the headquarters of the Connect Derby scheme.
The company started life at Riverside Chambers on Full Street, which was the subject of a £2m refurbishment in 2015. Over the next three years it achieved significant growth – expanding from one to two offices and employing more than 15 mortgage brokers and 11 admin staff.
In June 2018, the company expanded still further taking over the historic Shot Tower building on the Morledge – with the creation of twelve new jobs.
The advent of the pandemic prompted a rethink of the company’s accommodation strategy and the decision to adopt a hybrid working approach, resulting in a move away from the three storey Shot Tower building to offices at Friar Gate Studios.
This will enable staff to make better use of their time, working from home, but able to come into the office for meetings and training.
Create Finance works with a range of customers – from the self-employed, contractors and professionals to people with adverse credit ratings.
Commenting on the move to Friar Gate Studios, director Gindy Mathoon, said: “What we like about being with Connect Derby is the flexibility. This is our fourth office at Connect Derby, and we wouldn’t consider going anywhere else.
“Over the years, we have developed a tremendous working relationship with Ann and her team. In fact, when we told Ann we needed a bigger space at Friar Gate Studios than was available, she gave us her own office!
“We like the managed office space and the flexible tenancy agreement. Services like health and safety around the building are taken care of. If there are any issues, we just report it and it’s taken care of by the building manager, allowing us to focus on our day-to-day business.
“Previously we had a team of brokers working across the UK supported by local admin staff. When the pandemic hit, everyone reverted to working from home, so we no longer needed all the space at Shot Tower.
“Staff morale remains key, though, so maintaining an office will enable our admin team and brokers to touch base on a regular basis.”
Ann Bhatti, head of Connect Derby, added: “We’re delighted to have been able to facilitate Create Finance’s expansion and changes within the business over the past seven years and are delighted they have found a new home at Friar Gate Studios.
“The relaxation of rules which enable non-creatives from the supply chain to the creative industries to take space at Friar Gate Studios and Sadler Bridge Studios has proved very popular and resulted in a dynamic and diverse community of tenants at both workspaces.”
150 jobs boost for Derbyshire and Nottinghamshire manufacturers
Nearly 150 manufacturing jobs have been created or safeguarded in Derbyshire and Nottinghamshire over the last twelve months thanks to the backing of a specialist business support programme.
The Manufacturing Growth Programme (MGP), which is funded by the European Regional Development Fund (ERDF) and designed and delivered by Oxford Innovation Advice, has delivered more than eighty strategic reviews to firms in the region – despite being in the midst of the pandemic.
Specialist assistance from dedicated Manufacturing Growth Managers has helped companies to improve quality performance, access new markets, develop new products and address environmental concerns.
In a deal agreed with D2N2 Local Enterprise Partnership, more than £130,000 of grants have been given out and this has been matched with £260,000 of private sector investment as manufacturing SMEs begin to bounce back from the effects of COVID-19.
Encouragingly, management teams still have until December 2022 to tap into MGP and make the most of a further £360,000 of support.
“Derbyshire and Nottinghamshire manufacturers are extremely resilient, especially with what has been thrown at them over the last two years,” explained David Caddle, regional manager of the Manufacturing Growth Programme.
“Despite the pandemic, companies are still looking to grow sales and achieve competitive advantage and that’s where our team come in, using the GROWTHMapper benchmarking tool to identify pain points within the business.
“We can then use this to inform the specialist support they need, delivering grants that can help with a third of the total cost of an improvement project up to a maximum of £10,000.”
He went on to add: “There are still grants available to support the industrial bounce back and to help companies overcome the widespread supply chain and inflationary pressures we are seeing.”
Retford-based Trans-Sport.tv (also known as Trans-Sport Limited) is one of the companies that has tapped into the Manufacturing Growth Programme so far.
The media and broadcasting events contractor, which designs, makes and supplies structures, sets and rigging to broadcast industry clients, has made several operational improvements as well as designing a new diversification strategy to help it offset quieter periods of activity.
It is an approach that is already paying off, with the firm supplying bespoke safety screens for workplaces and manufacturing stages for new clients.
New installation contracts have also been won for Ant & Dec’s Limitless Win, game show Quizness and an extension to support the BBC Antiques Roadshow.
Helen Cope, director of Trans-Sport Limited, stated: “The Manufacturing Growth Programme has been so helpful, and the process is very straightforward. If your business has a genuine desire for manufacturing growth, then go for it!
“We did it and we are now trading above pre-pandemic levels and have taken on an extra four new staff to cope with demand.”
