Derbyshire’s official destination management organisation has secured £500,000 to boost jobs, encourage growth and support the recovery of visitor economy businesses in the Peak District and Derbyshire following a successful bid to the Government’s Community Renewal Fund. Marketing Peak District & Derbyshire, working in partnership with East Midlands Chamber, the University of Derby, The Food and Drink Forum and Nottingham Business Venture, has been awarded a share of an overall project totalling £1.47 million that will run until 30 June 2022. Investment in low carbon solutions, business growth, employment, training and digital skills are amongst the key aims of the project, which is set to create jobs and breathe new life into local communities as part of the Government’s commitment to levelling-up the nation and achieving net zero carbon emissions. Financial support for businesses will include growth vouchers and start-up grants of up to £2,000, plus flexible grant funding of up to £8,000 to help businesses access green solutions, adopt digital technology and receive specialist training. Activity for the project will be delivered under five key strands, known as ‘Accelerators’, with Marketing Peak District & Derbyshire delivering the support for visitor economy businesses. The five ‘Accelerators’ in the project are as follows: • Race to Zero Carbon Accelerator to encourage investment in net zero business practices and to offer financial support for ‘clean growth’ such as the implementation of carbon reduction plans. • Digital Transformation Accelerator to help businesses implement e-commerce solutions and become online bookable. This will also include collaborative pilots for the cultural and heritage sector to access technology solutions, develop town-based festivals and drive market town footfall. • Start Up to Scale Up Accelerator to deliver mentoring to help start-ups launch a business idea and grants of up to £2,000 to launch a new business or product. • The Kickstart Accelerator to deliver training and mentoring support to improve job retention, as well as a wage subsidy to convert a Kickstart or Graduate placement into a new sustained job. • The Financial Accelerator to offer flexible grant funding of up to £8,000 to help businesses fund digital adoption, carbon reduction solutions and specialist training. Growth vouchers of up to £2,000 will be available for consultancy advice to support business growth and a wage subsidy will be available to support Kickstart or Graduate job retention. The project also includes feasibility studies into the development of two apps, including a visitor app that would provide real-time data on visitor behaviour, and a transport planning app that would align bus and rail routes to popular destinations in the area. Jo Dilley, Managing Director of Marketing Peak District & Derbyshire, said: “We’re delighted that our Community Renewal Fund bid has been successful, creating a host of new opportunities to drive the post-Covid recovery and long-term growth of visitor economy businesses in the Peak District and Derbyshire “As highlighted in our Tourism Recovery Plan, our ambition is to become a leading destination in sustainable tourism and this, alongside our ongoing commitment to boosting jobs, skills and growth, clearly aligns with the Government’s aims for the Community Renewal Fund. “We look forward to working alongside our partners and hope this project will pave the way for future funding to ensure visitor economy businesses can not only survive, but thrive, as we embark on the road to recovery.” Diane Beresford, Deputy Chief Executive and Community Renewal Fund lead at East Midlands Chamber, said: “The East Midlands Accelerator project will look at what the needs are locally and seek to address them with targeted, bespoke support that brings together key stakeholders across the region – with each strand connected by the golden thread of acceleration. “We strongly believe these schemes, which will enhance the existing support out there, will have a transformative impact for so many businesses and individuals in the Peak District and Derbyshire. “This area is a hive of entrepreneurship and we’re looking forward to assisting people to get great ideas off the ground and then scaling them up, while for more established businesses we can help them navigate their net zero and digital transformation journeys. “We’re also excited about building on our success in the Kickstart Scheme, having been the UK’s largest and most successful gateway organisation in supporting businesses to create more than 1,800 placements in our region.”

Most UK corporates are expecting to accelerate investment and undertake mergers and acquisitions (M&A) this year, according to the findings of the inaugural EY 2022 CEO Outlook Survey. The survey revealed that UK CEOs are responding to the immediate challenges thrown up by the pandemic, whilst taking bold decisions to build long-term value. It found that appetite for M&A by UK CEOs remains strong, with two-thirds of respondents (66%) expecting to transact in the next 12 months, compared to 59% globally and 57% of executives surveyed last year. The UK remains the second most attractive inbound destination for deals globally, behind the US, particularly in sectors it has global strengths, including financial services, fintech and high-end consumer and industrials. The CEO Survey also revealed that UK companies are anticipating a significant amount of private equity (PE) activity, with 45% of UK CEOs expecting strong competition from PE buyers in the deal market, compared with 21% globally. Dan Salt leads the Midlands-based M&A team, he says: “For many companies, M&A remains a fundamental part of how they act on and deliver on their strategic growth plans. From rationalising their portfolio, to digital transformations and improving their ESG profiles, companies are using deals to reshape their business at pace. Given the intense level of deal activity we’ve seen in the last two years, many companies will be integrating recently acquired assets, but UK CEOs are still signalling that they remain strategically poised to buy assets that support their growth ambitions.” Focus on ESG creating CEO tension with some investors UK CEO responses indicate that environmental, social and governance (ESG) is now an integral part of corporate strategy, which cuts across every aspect of decision-making. UK CEOs are giving this topic even sharper attention than their global peers, with 98% of UK CEOs expecting ESG to be an important value driver, compared with 83% globally. Its strategic importance means 7% of UK CEOs have walked away from a deal because they have ESG concerns. However, investors don’t always share this understanding, 70% of UK respondents admit they have encountered resistance from investors and shareholders about their sustainability transition strategy, of which 42% say their shareholders want them to wait for competitors to act first – in direct contrast with CEO’s strategies to lead their markets. Dan Salt continued: “We’re seeing this tension develop now, with some company stakeholders pushing for companies to move faster, whilst others are calling for a stronger focus on immediate returns. CEOs will need to address this friction and increase stakeholder engagement around ESG topics, constantly updating their narrative to ensure that they can fully articulate the benefits of their strategy and respond to any concerns quickly.” Reshaping to protect and grow UK CEOs identified the pandemic as a significant catalyst for corporate transformation – over 90% of UK respondents said that COVID-19 had affected their sector and over a third expected this change to be fundamental. However, alongside this imperative for change, CEOs are also handling many other strategic challenges, including energy prices, supply chain disruption, and material and labour costs and shortages which became major problems for companies in a matter of months in 2021. Almost every UK CEO in the survey reported an increase in costs and the need to adjust their supply chain in response to disruption and geopolitical challenges. As a result, over 88% of companies are altering their supply chains or geographical profile – with over a third of UK CEOs accelerating cross-border investment. The survey also indicated that over 50% of UK CEOs will be directing capital investment towards their organisation’s growth engines or entirely new ideas in the next five years, demonstrating willingness to make bold moves in the face of change and to look towards a longer horizon. Digital transformation also remains a key priority with over 50% of UK CEOs using technology as their main strategic driver to improve margins, either through automation or technologies that increase customer engagement to develop new data-driven products and services. Dan Salt added: “CEOs are taking action to mitigate against short-term pressures, whilst also acting to reshape their businesses, build resilience, and create a more stable platform for growth. The last two years have been a period of intense change. Businesses need to review the profile of their business and its wider ecosystem to position themselves successfully for the future.”