Dynamic team expansion to drive ambitious growth at Newsome
Over the last few months, temperature control and humidity experts, Newsome, has been actively recruiting key personnel to expand its experienced team – to help drive the company’s ambition to become the largest privately owned temperature control company within the UK.
The latest industry specialists to join the company include Chris Flynn, as sales manager and Rob Whyte, as contracts manager, both joining the Process Temperature Control division; whilst John Askew joins as contracts manager for the expanding HVAC & Refrigeration team.
The addition of these new recruits will enable Newsome to strengthen its presence across core markets as well as broadening into new sectors and service areas.
Chris Flynn will help Newsome drive their business growth strategy in the Process Temperature control division. He has carved a successful career in the temperature control industry, having spent the last 16 years working for ICS Cool Energy.
Chris says: “I am really excited to join Newsome. Being a smaller, privately owned company gives me the opportunity to use my skills to make a significant difference to the companies’ growth, particularly in the North & Midlands. I am looking forward to furthering my career with such a dynamic and ambitious team.”
Rob Whyte brings over 40 years of industry experience to the business, having spent the last 10 years working in the confectionary sector as technical director for Hilton Process Solutions.
Rob explains why he was keen to join: “I was looking for a new challenge. When I met Richard Metcalfe, I was really inspired by his passion and enthusiasm and vision for the business. I am really excited to join the team and play an integral part in the delivery of their business growth strategy, leveraging my extensive experience in project management and client services.”
With over 15 years in the industry, John Askew says: “I am really excited to join Newsome in their HVAC & Refrigeration team. In my previous role at Sovereign Air Movement, I worked alongside Newsome on a number of projects and was always impressed by the competence and professionalism of their personnel. I respected the fact they always worked directly with customers, rather than via third party contractors, which always led to greater customer satisfaction. I am looking forward to helping them expand their presence in this key business sector.”
Richard Metcalfe, director at Newsome, concludes: “Recruitment is a key part of our strategy to drive the business forward, to enable us to meet our ambitious growth targets. Having experienced and passionate people on our team is crucial to our continued success.
“We pride ourselves on providing a personalised, tailored solution to each of our customers. We are delighted that Chris Flynn, Rob Whyte and John Askew have recently joined us. They each bring valuable industry experience to the company, plus the maturity and motivation to help us deliver exceptional customer service.”
Over the coming months Newsome will continue with its expansion plans and looks forward to welcoming a number of additional personnel across the business in the new year.
Richard says: “We are now on the hunt for competent, highly motivated, service technicians and rental sales managers to join our fast-growing team – we invite anyone who may be interested to get in touch.”
Ridge appoints Building Surveying Partner in Leicester
Ridge and Partners LLP (Ridge) has appointed Andrew Jenkins as Partner to lead its Building Surveying practice in Leicester.
Andrew brings over 18 years’ experience in the property industry, with expertise in dilapidations, technical due diligence, and building surveying services.
Andrew joins Ridge from Uppingham School in Rutland where he spent three years as Estates Director working on a range of capital and revenue projects. Prior to this he was a Director at CS2 Chartered Surveyors, establishing its Birmingham office in 2010 and later taking over as head of its London office in 2014.
Andrew will head up a new building surveying arm that enhances the existing disciplines offered by Ridge Leicester – including Architecture, Quantity Surveying, Project Management, and Mechanical and Electrical. To support the growth, Ridge is recruiting four new building surveyors in the coming months.
Speaking of his appointment, Andrew said: “I’m looking forward to playing my part in the success of Ridge and developing a building consultancy team here in the East Midlands. Celebrating its 75th anniversary this year, Ridge has a strong reputation built on providing exceptional client service and I’m excited to contribute to its continued growth.
“The most rewarding part of my job is working with clients to solve their property questions. Whether it is settling a dilapidations claim or delivering a refurbishment project, every day brings a new challenge. I’m lucky to have the opportunity to build a team of talented individuals who enjoy the very same challenge.
“Property is ever-changing and in the coming years there will be an exciting evolution of property types and sectors. As a successful multidiscipline property and construction consultancy, Ridge can continue to deliver savings, increase efficiencies, and provide property solutions to a range of blue-chip clients.”
Matthew Francis, Partner and head of the Leicester office at Ridge, said: “We’re delighted that Andrew has joined us to lead the building surveying team in Leicester. He has a wide range of sector experience and technical knowledge that will benefit both new and existing clients. He is experienced in building teams, and I am confident we can deliver a market-leading building surveying arm in the East Midlands.”
Duo of deals at SEGRO Logistics Park East Midlands Gateway see 860,000 sq ft of warehousing snapped up
SEGRO has signed two deals for more than 862,000 sq ft of warehousing at its flagship UK big box development, SEGRO Logistics Park East Midlands Gateway, leaving just one big box plot available.
Global logistics company, Arvato, agreed a lease for a 220,000 sq ft unit, which is the first speculatively developed warehouse at SEGRO Logistics Park East Midlands Gateway. Arvato secured the BREEAM Excellent rated building in September 2021, whilst it was still under construction.
SEGRO has also signed a pre-let agreement with a leading supply chain management company to occupy a new 640,000 sq ft, BREEAM Excellent warehouse on a 10-year term. Construction is scheduled to start in January and complete in Autumn 2022. The customer is expected to create up to 400 new jobs at the 30-acre site.
SEGRO Logistics Park East Midlands Gateway started construction in 2017. It was initially anticipated to be a 10-year programme, however strong uptake means there is only one big box plot remaining, which can accommodate up to 700,000 sq ft, with all other plots being either operational, under development or committed.
Andrew Pilsworth, Managing Director, National Logistics at SEGRO, said: “We are seeing sustained warehouse demand in the East Midlands logistics market, with ongoing supply chain challenges driving companies to build operational resilience and occupy high-quality space in the best locations.
“We’re proud that we have been able to develop SEGRO Logistics Park East Midlands Gateway more quickly than originally anticipated to meet these customer requirements and thrilled that our first speculative unit at the park has let so quickly.
“It’s fantastic that Arvato, which is also a customer of ours in Poland, has selected SEGRO Logistics Park East Midlands Gateway for its new state-of-the-art distribution hub. The building is being developed to the highest design and sustainability standards. It is a great name to add to the logistics park community and will bring valuable employment opportunities to the local area.”
Tobias Uthmann, Managing Director UK at Arvato Supply Chain Solutions, said: “With the new site, we aim to meet the high demands of our existing as well as potential new customers and are very pleased that the capacity at East Midlands Gateway will allow us to plan for the long term with a distribution centre that fits perfectly into our growth strategy. By 2023, we will be able to excellently implement our growth plan.”
The new customers will join Kuehne + Nagel, Amazon, ShopDirect, Games Workshop and DHL at the 700-acre logistics park, which is located adjacent to East Midlands Airport and close to Junction 24 of the M1. The on-site rail terminal, operated by Maritime, is fully operational with trains transporting goods across the UK linking other strategic rail freight interchanges and major UK ports such as Southampton, Felixstowe, London Gateway and the Channel Tunnel. Once complete, SLPEMG is expected to support over 9,000 jobs.
University of Nottingham collaborates on new research centre to accelerate the UK’s electrified future
GKN Automotive, a global leader in drive systems, has announced its new Advanced Research Centre – created to develop next-generation eDrive systems powering future electrified vehicles and increase engineering capability in the UK to meet Net Zero commitment.
GKN Automotive is partnering with the University of Nottingham and Newcastle University to push the boundaries of eDrive technology and accelerate modular innovation. The collaboration will focus on the development of ultra-high efficiency EDUs for future electric vehicles.
The Advanced Research Centre is being supported through £3.5m in funding from the Melrose Skills Fund, to increase the automotive electrification knowledge capability and strengthen research and development in the UK.
The project will be virtually shared between the engineering departments at the University of Nottingham and Newcastle University, with research teams at each university operating collaboratively with engineers at the GKN Automotive Innovation Centre.
Gordon Day, Managing Director, GKN Automotive Innovation Centre, said: “GKN Automotive is a pioneer of advanced eDrive development and this new research partnership will play a key role in strengthening the innovation of electrification technologies for future advanced propulsion systems.
“We are extremely proud that this research will be in partnership with Newcastle University and the University of Nottingham, two renowned and respected global leaders in automotive electrification engineering research. Both institutions will also play a leading role in helping us develop a supply of high-calibre engineering talent, which is essential to enable us to put the UK at the forefront of global automotive industry innovation.”
This collaborative research not only spearheads the development of disruptive technology innovations in eDrive but supports the UK’s technology roadmap set out by the Advanced Propulsion Centre (APC). It also further strengthens GKN Automotive’s collaborative links within the UK Innovation Network.
Both partner universities are part of the Advanced Propulsion Centre’s ‘spoke’ community. The initiative brings together specialist academic, technological, and commercial expertise from across the UK to share best practice for the development of low emission propulsion technologies.
The University of Nottingham is the APC’s spoke for power electronics, and home to the Driving the Electric Revolution (DER) Industrialisation Centre – Midlands; while Newcastle University is the spoke for electric motors, and leads the national network of four DER Industrialisation Centres including the Driving the Electric Revolution Industrialisation Centre – North East.
The Centres are backed by £33m UK Government funding (UK Research and Innovation (UKRI)), providing open access facilities with state-of-the-art equipment. They bring together the UK’s technology and manufacturing expertise in electrification research and development. The network will help propel UK manufacturing to the forefront of global efforts to tackle climate change and ensure the UK can reach net zero emissions by 2050.
The Melrose Skills Fund is a £10m fund, allocated over five years across GKN Aerospace and GKN Automotive, developing and promoting engineering skills in the UK. The first phase of investment saw the launch of the Skills Development Programme at the Abingdon Innovation Centre, supporting the development of engineering skills through STEM engagement, apprenticeships, training opportunities and internal staff upskilling. This next phase now focuses on Research.
CEO to step down at Image Scan as second profitable year delivered
Image Scan, the Leicestershire-based supplier of X-ray screening systems to the security and industrial inspection markets, has reported a second profitable year, despite the continuing impact of COVID-19.
In preliminary results for the year ended 30 September 2021 the company posted a pre-tax trading profit of £189k, up from £112k in the year prior.
Sales however dipped from £3.5m to £2.9m, following a “subdued first half.”
Meanwhile Image Scan’s chairman has announced a role change as part of the firm’s succession plan.
Bill Mawer, chairman and Chief Executive of Image Scan, said: “It is gratifying to be able to report that a second profitable year has been delivered, despite the continuing impact of the COVID-19 pandemic on our customers, our supply chains and our staff.
“Important ‘firsts’ in the year included: first sales of the AXIS-CXi cabinet X-ray machine, first portable X-ray sales in North America and key new customers in the UK. The product development programme continues to move forward, and I look forward to launching more new products in FY22.
“As part of the Board’s succession plan, I will relinquish the CEO role in January and we will appoint Vincent Deery, currently Sales Director, as Interim CEO. Vince and I have worked closely on the development of the organic growth plan for the business, and I have every confidence in his ability to play a larger part in implementing that plan.
“I will continue to drive strategy and product development, allowing Vince to focus on sales and operations. All the board remain optimistic for the future of Image Scan.”
Metalfacture named Leicestershire Business of the Year
Metalfacture, a manufacturer that has transformed its business from being a solely domestic trader to an exporting success story, has been crowned the Leicestershire Business of the Year by East Midlands Chamber.
The Wigston-based company – which now sends deliveries to more than 54 countries worldwide, with exports accounting for about half of sales – also won the Excellence in International Trade category and Outstanding Growth Award at the Leicestershire Business Awards, which was held on Friday (3 December) in conjunction with the Chamber’s annual Christmas Lunch.
Founder Ben Jones-Fenleigh started the company as a sheet metal work sub-contractor but diversified over the past few years to make its own products. It has used its wealth of manufacturing knowledge to create innovative displays used in shops that increase brand awareness and impulse sales, with a specialism in beverages, small convenience stores and petrol forecourts. Customers include Heineken, Molston Coors, Asda and Sainsbury’s.
The Leicestershire Business Awards, held in partnership with headline sponsor Mazars, recognised winners across 13 categories, ranging from Business Improvement Through Technology and Environmental Impact Award within an organisation to individual honours for Entrepreneur of the Year and Apprentice of the Year. There were new categories this year for Collaboration Project of the Year and Excellence in Innovation.
Finalists, chosen by a judging panel of the Chamber’s senior leadership and board of directors, as well as sponsors, discovered their fate during a gala dinner attended by hundreds of people at Leicester Tigers’ Mattioli Woods Welford Road stadium – marking a return for face-to-face celebrations after being held virtually last year.
Scott Knowles, Chief Executive of East Midlands Chamber, said: “There has been so much to celebrate within our business community despite a challenging 18 months and these awards have showcased some of the incredible companies that call our region home.
“As the economic recovery continues, and new opportunities present themselves in a new era of global trade and sustainable business, these are just the kinds of organisations we should be highlighting when we’re shouting about everything the East Midlands has to offer. We know it’s a great place to do business and these are living proof.
“We received so many high-calibre applications, which demonstrated how the pandemic hasn’t been a period in which we have just stood still. Instead, the time afforded for reflection has led to many companies seeking out new opportunities, innovating and driving themselves forward.
“While last year offered us a different kind of experience in a virtual awards ceremony, it was great to be back holding such a landmark event for the business calendar in person once more. Once again, we are so thankful to our sponsors for making this event so successful.”
The Leicestershire Business Awards – one of three awards hosted by the Chamber, along with Derbyshire and Nottinghamshire – were hosted by comedian Dom Woodward.
A raffle and auction was held to raise more than £3,000 for East Midlands Chamber president Eileen Richards MBE’s three chosen charities this year – Chesterfield Samaritans, Help the Homeless Leicester and Nottinghamshire Hospice.
Eileen, who owns Leicester-based ER Recruitment, gave a speech in which she explained how much the city where she has always lived means to her, as well as its strong entrepreneurial community – with four and a half businesses for every 100 residents, and 85% of those companies having fewer than nine employees.
She also referenced the economic opportunities on the horizon, with Leicestershire securing £54m from the Government’s Levelling Up Fund to back projects including Pioneer Park, Pilot House and the remodelling of the city’s railway station.
Commenting on the awards, she added: “During my year as president, I’ve been privileged to witness some of the amazing success stories that don’t always receive the wider recognition they ought to, so I’m thrilled to see some of these come to the fore at East Midlands Chamber’s Business Awards.
“The Leicestershire Business Awards has shone the spotlight on some well-deserving winners from my hometown’s thriving entrepreneurial community, but I’d also like to congratulate the finalists for their outstanding entries too as we had some really strong competition across many categories this year.
“Metalfacture is a very worthy winner of the Leicestershire Business of the Year and shows just what can be achieved by having the boldness of ambition to diversify into new products and markets.
“British manufacturing’s badge of quality will be at the heart of our economic recovery and post-Brexit global trading relationships, so it’s really encouraging to see one of Leicestershire’s own flying the flag across the world, from Japan to the USA.”
Winners of Leicestershire Business Awards
Business Improvement Through Technology Winner Due Diligence Checking Finalists Kitking North Warwickshire and South Leicestershire College Steps Conductive Education Centre Community Impact Award Winner Zinthiya Trust Finalists Alex’s Wish Charity Link Hope Against Cancer Shama Women’s Centre Outstanding Growth Award Winner Metalfacture Finalists Loughborough Finance for Sport Jake & Nayns Myonex Pattersons Commercial Law Environmental Impact Award Winner Abacus Flooring Solutions Finalists Go Travel Solutions Michael Smith Switchgear PacWolf Commitment to People Development Award Winner Precision Facilities Management Finalists Alex’s Wish Noble Events Pick Everard REAL Education Apprentice of the Year Winner James Cook – C S Ellis Group Finalists Millie Clayton – Almac Group Emily-Rose Moore – Hinckley & Bosworth Borough Council Chloe Grantham – Paragon Sales Solutions Alice Deeping – Unsworth Sugden Group Entrepreneur of the Year Winner Brij Thankey – Precision Facilities Management Finalists Jaz Kaur and Narinder Nijjar – Fraser Stretton Estate Agents Satwinder Sidhu – Paradigm Wills and Legal Services Navroop Kaur – Prime Casual Alex Slack – The House of LM Education and Business Partnership Award Winner MIRA Technology Institute Finalists De Montfort University – Small Business Leadership Programme Loughborough College North Warwickshire and South Leicestershire College REAL Education Excellence in Customer Service Winner Furnley House Finalists Glenfield Electrical Growth Partners Kazzoo Paradigm Wills and Legal Services Excellence in International Trade Winner Metalfacture Finalists A Mistry Worldwide Express (UK) Small Business of the Year Winner Your Tender Team Finalists Arthur Civil Engineering Charnwood Regency Guest House Precision Facilities Management We Love Surveys Excellence in Innovation Winner Structural Adhesives Finalists Access Rating Penny Price Aromatherapy Printvision (UK) Excellence in Collaboration Winner De Montfort University – Round-tip Knives Finalists Alex’s Wish Creative62 Joined-Up Working Associates Leicestershire Cares Business of the Year Winner MetalfactureEnd of year disruption threatens to de-rail Midlands’ recovery but businesses pledge to expand globally and create jobs
Midlands business leaders fear supply chain disruption will affect their ability to offer the usual range of products and services, impacting end of year trading, according to new research from accountancy firm, BDO.
The bi-monthly Rethinking the Economy survey of 500 leaders of medium-sized businesses reveals a third of businesses in the region are planning to increase the prices of their goods and services as a result.
Despite these pressures, more than half (58%) of companies in the region expect to see their revenues return to pre-pandemic levels within 12 months.
There is a sense of cautious optimism looking into 2022 with nearly a quarter (22%) of Midlands companies surveyed prioritising investment in international expansion and creating new jobs (20%) to support future business growth. One in five Midlands businesses are looking to drive growth into the US next year and 22% are looking towards Asia for sources of growth.
The research provides an insight into the mid-sized businesses which BDO calls the ‘economic engine.’ This group of companies comprises mid-sized, private equity-backed and AIM-listed businesses, which contribute £1.3 trillion to the economy and create almost 8 million jobs.
When asked which area of public spending would have the greatest positive impact on their business in 2022, one in five (22%) of the region’s companies called on the Government to invest in public services as a priority for growth.
Nearly a quarter (23%) of businesses shared concerns that a decision from the Bank of England to increase interest rates could have the greatest impact on their business over the next 12 months.
Tim Foster, partner at BDO in the Midlands, said: “Businesses in the region have been hoping for a strong finish to a year which started with so much uncertainty. Businesses have continued to face issues of rising costs, supply chain challenges and talent shortages.
“According to ONS data published at the end of November, economic output in the West Midlands is still down nearly 10% and the East Midlands is around 5% below pre-pandemic levels, lagging behind regions such as Yorkshire, the North West and North East.
“Despite this and the continued speculation around interest rate rises ahead of the Monetary Policy Committee decision later this month and fresh concerns around COVID-19 restrictions, mid-market Midlands businesses are demonstrating the ambition and their hallmark resilience as they plan for 2022.
“It’s positive to see investment intentions around international growth and creating new jobs, which suggests we will see a strong recovery in the region’s new economy.”
Leicestershire businesses give big for babies at charity ball
Businesses from across Leicester and Leicestershire have raised a huge £39,000 for a new neonatal ventilator and other equipment that will save countless lives.
More than 360 people from 15 local and national businesses came together with NHS staff at Leicester Hospitals Charity’s first ever Heroes Ball on Saturday 27 November to raise money for this life-saving equipment.
The event, hosted by BBC Radio Leicester presenter Ady Dayman at Winstanley House in Leicester, also focussed heart and minds on the impact of Covid over the last 18 months, remembering those whose lives had been lost and paying tribute to the heroic NHS staff who have worked tirelessly to protect their patients throughout the pandemic.
Money was raised through a live auction and silent auction with prizes ranging from Nevill Holt Opera tickets to furniture from Charles Bentley Furniture, match day hospitality tickets at Leicester City FC and a round of golf with Foxes legend Gerry Taggart.
Corporate sponsors BVM Medical, Berkeley Insurance Group and the Thakrar Foundation also funded tables for 90 hospital staff to join in the celebrations, in thanks for all they’ve done to care for the people of Leicestershire.
One of the key corporate sponsors was Leicester wholesaler, Anand International. Vic Sethi, said: “It was an excellent event with great entertainment, speeches and food. We, the Anand and Sethi family, are honoured to be sponsoring the NHS as we owe it to them. This is the least we can do to show our appreciation for their hard work. We are so grateful and proud of everyone working directly or indirectly for the NHS. We stand shoulder to shoulder with the NHS at all times.”
Another key sponsor was Nuffield Health Leicester Hospital. Stephen Haselip, sales and services manager, said: “We are pleased to offer our continued support to the NHS and the teams at University Hospitals Leicester at this challenging time and we are especially proud to support the Leicester Hospitals Charity as it offers so much help and support to the local community.”
Gavin Bee, healthcare client director at NTT DATA UK, said: “University Hospitals Leicester is an important client of ours and we are so proud to be able to support its charity’s first ever NHS Heroes Ball, raising vital funds and celebrating caring at its best. We all look forward to next year’s event which we know will be even bigger and better.”
The ventilator will mean that the neonatal team at Leicester Royal Hospital will be able to care for its 1,600 babies a year with the most up-to-date equipment. The money will also be used to fund other desperately needed equipment across the hospital.
Lisa Davies, director of Leicester Hospitals Charity, said: “To see so many businesses get involved and give so generously was incredibly heart-warming and we cannot thank them enough. The difference this will make to the lives of so many babies and their families when they are most in need is huge.”
Switch flicked to give Derby a “once in a generation” internet super-boost
An internet supplier has cut the ribbon to begin offering thousands of Derby homes and businesses access to the city’s new full-fibre internet network, describing it as a “once-in-a-generation opportunity to prosper.”
Gigabit Networks joined forces with Derby Mayor Councillor Robin Wood to officially launch its service at a ceremony held last week (Dec 2).
Derby is the first city in the East Midlands and among the first in the UK to enjoy the benefits of full-fibre internet technology, which will enable subscribers to stream TV, take part in video conferencing or use cloud computing quicker and more reliably than at present.
The technology is being seen as a game-changer for the city because not only will the superfast speeds give its businesses a huge commercial advantage over competitors in others cities, but, as Councillor Wood pointed out, it also promises to boost Derby’s bid to become a City of Culture in 2025 and could be vital in helping the city win the race to become home to the new state-owned rail transport body Great British Railways.
Gigabit Networks, which is operating from an office in Uttoxeter Old Road, is working in partnership with CityFibre, which is installing the all-important cabling that will create a full fibre internet network beneath Derby’s streets as part of an initial £45m private investment.
The network uses 100% underground fibre optic cables, which transmit data quicker and more reliably than the traditional copper wire network and have so far been laid outside 8,000 homes and businesses in parts of Mackworth, Allestree, Mickleover, Abbey, Arboretum and Darley wards.
CityFibre is laying more and more cable every day, but since it is the installer and not an internet service provider (ISP) itself, it does not connect individual properties to the network itself. Instead, it is working in partnership with companies like Gigabit Networks.
Dan Ilett, co-founder of Gigabit Networks, said: “Our recent experience of lockdown showed everybody how critical good connection speeds are and, with more and more data being shared and received across the internet each day, the need for a fast and reliable connection is only going to grow.
“Derby is now able to handle that growth thanks to its new network, meaning that this is a once-in-a-generation opportunity for the city to prosper while others are being left behind. This is why we’re incredibly excited about giving everybody in Derby the opportunity to get on board.”
David Yates, co-founder of Gigabit Networks, added: “Full fibre is only available to around 20 per cent of UK premises, which means that Derby is right at the very forefront of this technology and has a huge commercial advantage because of the internet speeds that are now at its companies’ finger-tips.”
Speaking at the launch just before he announced the service had gone live, Councillor Wood said: “I am proud to say that I am now one of the first people to be able to say that they are Mayor of a Gigabit City. That is very important, because Derby’s future plans rely on connectivity, so you are giving us exactly what Derby needs at the right time.”
It will take until 2025 to install the entire digital infrastructure across Derby.
East Midlands region to deliver disappointing economic growth rates in latest analysis
A new economic report has highlighted the significant challenges for the economies of Nottingham, Derby and Leicester with all three cities set to produce relatively slow growth over the next 12 months.
The UK Powerhouse study, which has been produced by Irwin Mitchell and the Centre for Economics & Business Research (Cebr), analyses 50 of the largest local economies by employment and GVA growth.
In the latest report, Derby is ranked 11th for year-on-year GVA growth in Q4 2022 with its economy due to increase in size by 2.9%. Leicester’s economy is predicted to grow at a slower rate of 2.6% whilst Nottingham, with the largest economy in the region, is set to see growth of 2.3%.
Nottingham’s rate of growth is a full percentage point behind hotspots in the South including Reading, Oxford, Cambridge and Milton Keynes.
Despite Nottingham’s GVA growth being the lowest in the region, its expected employment level growth in 2022 of 1.4% is higher than Derby (1.1%) and Leicester (0.8%).
Similar to GVA levels, the levels of employment growth were much slower in East Midlands than they were in hotspots such as Oxford (3.2%), Chelmsford (2.5%) and Cambridge (2.5%).
Hannah Clipston, partner at Irwin Mitchell, said: “The UK’s economy has undergone significant change over the last two years and this report highlights that the recovery is unlikely to be linear or even uniform.
“Over the next 12 months our report predicts that manufacturing’s output will grow by 3.5% whilst for hospitality it will grow by 35%. This has a huge impact on the variations that we are seeing in terms of growth in different locations and should be considered by the government as it looks to level up.”
Irwin Mitchell’s report also examines to what extent disruption in the economy leads to innovation.
Here the study reveals that the South West and the South East have the largest share of businesses engaged in innovative activity. According to the study, 41% of businesses in the South West are defined as innovative compared to 38% in the East Midlands.
Hannah added: “Businesses have been incredibly resilient over the last couple of years and have faced many disruptors including Covid, labour shortages, supply chain issues and high fuel costs.
“Our latest study recommends that irrespective of the sector they’re in, organisations should be adopting technology more quickly and adapting to the UK’s new status after Brexit.
“All of this will require a shift in approach and for innovation to be celebrated and nurtured more than it is currently. It’s vital that businesses are encouraged to follow this path and receive the right level of support in order to help them succeed.”
