SMEs on agenda as Leicestershire Innovation Festival launches with packed event

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Leicestershire Innovation Festival launched with a packed event at Space Park in Leicester. An extended schedule of events for 2022 commenced on Monday with a morning themed around innovation and sustainability. It saw a series of public, private and university leaders from the East Midlands and beyond describing the region’s opportunities against the backdrop of Levelling Up and Net Zero. Dr Nik Kotecha OBE, chair of the Leicester and Leicestershire Enterprise Partnership (LLEP) Innovation Board, opened the event by presenting innovation as being about continuous improvement and open to all sizes of businesses. Leicester and Leicestershire’s £23bn GVA – the largest economy in the East Midlands – is built largely upon SMEs. Dr Kotecha, recently named chair of CBI East Midlands, talked about ‘Beacons’ – economic clusters in core local sectors – and their role in upskilling people to make the products of the future. He also described the Government’s interest in innovation as a means of improving productivity and global competitiveness. Dr Kotecha concluded by setting out the Innovation Board’s priorities, which included defining innovation, signposting funding opportunities, removing barriers and collaboration between public, private and academic innovators to the benefit of all. He drew the example of the Oxford-AstraZeneca vaccine as an example of what can be achieved when the three combine. Julian Bowrey, regional manager at Innovate UK, described Leicester and Leicestershire as a “happy hunting ground” for his organisation in the issuing of awards to support innovation projects. He made a case for increased communication, whether it be locally, nationally or internationally, to ensure conversations in a language that business understands are supporting collaboration and creativity. Dennis Hayter, of Loughborough University spin-out Intelligent Energy, described how collaborations with the likes of Suzuki and London Taxi Co were developing and trialling world-leading projects in the use of hydrogen fuel cells for transport. It was a theme continued by Robert Evans, CEO of Cenex, a consultancy for low carbon and fuel cell technologies which is also based on the Loughborough University Science and Enterprise Park (LUSEP) campus. His not-for-profit organisation formed in 2005 and works between industry and customers in getting emerging fuel cell technology into general transport use. Peter Ware, chair of the Midlands Engine’s Green Growth Board was next, pointing out that the Midlands’ £250bn economy was larger than that of Denmark. He outlined its 10-point plan for growth, based on three themes of Place, Energy and Enablers. Net Zero transport was again part of the plan, alongside buildings, low carbon, smart energy and nature recovery. The event concluded with a Q&A, led by Charlotte Horobin, the membership director for Make UK and Operating Board member of the Midlands Engine, who steered audience questions about cyber, skills and effective communications to a nine-strong panel. The event speakers were joined on the panel by Will Wells, commercial director at the University of Leicester, Sue Tilley, the LLEP’s head of business and innovation, and Business Gateway Growth Hub manager, Rachel York. Describing work being done at De Montfort University, including as GCHQ’s only accredited institute, Helen Donnellan talked about the importance of communication and making connections, adding: “Innovation comes in all shapes and sizes and is across the board – we have this festival to celebrate that.”
  • Leicestershire Innovation Festival runs until February 25. Events are both online and at venues across Leicester and Leicestershire. Anyone can register to attend now at https://bit.ly/LeicsInnovation22.

FRP continues East Midlands growth with new associate director

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FRP Corporate Finance has continued to grow its footprint in the East Midlands with the appointment of Oliver Taylor as associate director working from its Leicester and Nottingham offices. With eight years’ experience in the financial services industry, Oliver began his career in corporate foreign exchange, advising on and managing the delivery of funds to a global client base. He joins FRP from a boutique advisory firm, where he provided corporate finance advisory to organisations across a wide range of industries. This included recent roles working on the sale of a national healthcare telecommunications provider to an industry consolidator, the sale of a specialist offshore energy infrastructure maintenance business and the cross-border sale of a marine services business to a Finnish technology group. At FRP, Oliver will work alongside his colleagues in the 16-strong East Midlands practice and across FRP Corporate Finance’s national office network to deliver a full range of corporate finance services, including mergers and acquisitions, management buy-outs, strategic reviews and fundraising. Oliver’s appointment comes amid a strong period of activity for FRP’s East Midlands Corporate Finance team. In 2021, the team closed 10 deals, including the sale of Leicester-based paneer manufacturer Everest Dairies to Vibrant Foods, the sale of facilities management business SMS to an employee ownership trust and the cross-border acquisition of Aqualla Brassware by FM Mattsson Mora Group AB. FRP’s national corporate finance team completed more than 100 deals with a combined value in excess of £2.5bn during the same period. Meanwhile, in January, the East Midlands team advised Kartell UK Limited – one of the largest and fastest-growing suppliers of heating and bathroom products to the independent merchant and showroom sector in the UK – on its multi-million-pound acquisition of kitchen and bathroom furniture manufacturer Summerbridge Doors. Harry Walker, partner at FRP Corporate Finance, said: “The East Midlands has a thriving community of growth-focused firms, with strong demand for corporate finance support and advice. “Oliver brings a breadth of experience to the team, with a track record of working on a range of private equity and corporate M&A, across industries as diverse as technology, healthcare and consumer products. “His appointment continues the expansion of our presence in the region and ultimately bolsters the strength of our 60-strong corporate finance team nationwide, putting us in an even stronger position to help our clients make their strategic ambitions a reality.” Oliver Taylor, associate director at FRP Corporate Finance, added: “FRP has established a reputation for taking a straight-talking, pragmatic approach to corporate finance and delivering great outcomes for clients. “I’m very excited to be joining the team, and to be able to draw on my experience to help deliver the best possible outcomes for businesses and stakeholders – here in the East Midlands and beyond.”

Nottingham claims management boss fined £25,000

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A Nottingham-based claims management boss previously jailed for being in contempt of court has been fined for failing to carry out duties as a company director. Haroon Karim appeared at Nottingham Magistrates Court on 2 February 2022 where he pleaded guilty to failing to preserve company accounting records before District Judge Grace Leong. The claims management boss was fined more than £25,000, as well as being disqualified from running companies for 2 years, to run concurrently with the 7-year ban Haroon Karim received in 2018. During proceedings, the court heard that Bramcote-based Haroon Karim ran several claims management companies, assisting people with personal injury claims following road traffic collisions. One of the companies based in Nottingham, ACA Accident Claims Assistant Ltd, entered into Creditors Voluntary Liquidation in August 2016, which triggered an investigation by the Insolvency Service. Investigators, however, were frustrated in their enquiries as Haroon Karim failed to deliver the company’s records despite repeated requests. The claims management boss went on to tell investigators he had delivered the records to another party but could not verify this when questioned. Further enquiries uncovered bank records demonstrating that Haroon Karim spent company money on unnecessary expenses despite having company debts. One of these purchases was a designer suit worth £1,000, which the claims management boss claimed he bought to attend an awards ceremony. With a lack of records, neither the Liquidator nor the Insolvency Service were able to establish what happened to the company’s tangible assets. This led to Haroon Karim signing a seven-year disqualification undertaking in July 2018. A criminal investigation was then launched into the claims management boss’ conduct, which resulted in Haroon Karim being charged on three counts, including: failing to deliver up books and records to the liquidator; failing to cause ACA Accident Claims Assistant Ltd to keep accounting records; and failing to preserve company accounting records. A trial was set for 2 February 2022 before Haroon Karim pleaded guilty and was sentenced with a fine of £20,000 and costs of £5,715.34. In separate proceedings, Haroon Karim was sentenced to six months for contempt of court. This was in connection with a claim brought by an insurance company in September 2017 after Haroon Karim had forged a claimant’s signature without their knowledge to start insurance compensation proceedings. Julie Barnes, chief investigator for the Insolvency Service, said: “Haroon Karim was evasive throughout our enquiries and with a lack of company records was unable to explain exactly what happened to the company assets – something we’ll never know. “But the court recognised the severity of the claims management boss’ misconduct and not only gave him a new ban from running limited companies but ordered Haroon Karim to pay a substantial fine. “We hope this serves as a stark warning to company directors that they have clear responsibilities and if they are not upheld, could lead to disqualifications and even criminal prosecutions.”

Revenue rises as pre-tax losses halved at Leicester City

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Leicester City Football Club has announced its financial results for the year-ending 31 May, 2021 – a season in which the Club continued to invest in its future growth, while managing the immediate and ongoing impact of the COVID-19 pandemic.
  2020/21 was a period largely without precedent in that it included the conclusion of two Premier League seasons – the overwhelming majority of which took place behind closed doors – and accounted for costs (including those related to COVID-19) and revenue associated to both. Despite the effects of COVID, such as playing behind closed doors, revenue grew by £76.2m on the previous year to £226.2m (£150m in 2020). While timing differences relative to the conclusion of the 2019/20 season have affected this figure, the Club’s on-pitch success in the Premier League and the FA Cup, and participation in UEFA competitions have also increased revenue in the financial year. The Club posted a pre-tax loss of £33.1m for the year ending 31 May, 2021 (£67.3m in 2020), which includes a loss of £36.1m directly attributable to the COVID-19 pandemic. The average number of non-footballers employed by the Club increased by fifty-seven during the year. Consistent with the previous season, the Club did not use the government’s job retention scheme and any staffing resource under-utilised as a result of the pandemic was redeployed, supporting the numerous and important community projects and charitable initiatives in which the Club is involved. Investment in the Club’s First Team playing squad continued – both through new registrations in the 2020 summer transfer window and contract extensions for key talent before the year-end. Such investments contributed to immediate on-pitch success and were offset through a £43.9m profit in player trading. Susan Whelan, Leicester City Chief Executive, said: “A second season in the grip of the pandemic, played almost entirely without supporters, presented a great number of challenges. That we were able to turn that into one of the most successful seasons in the Club’s history – across our teams – is testament to the diligence and skill of our personnel, the unending support of our fans and the performances of our team on the pitch. “Our Chairman, Khun Aiyawatt, and the entire Srivaddhanaprabha family have been there for the Club throughout, providing security across the business that has enabled us to continue investing in excellence, while supporting the welfare of our staff and communities throughout challenging times. “The growth in our revenue streams is an encouraging indication of progress in our pursuit of sustainable success, particularly in the context of the obvious limitations brought about by the pandemic. As the world hopefully returns with confidence to more familiar settings, building on that commercial progress will be an important next step on that journey. “Our supporters remain integral to our future planning. Their return to matchdays has been transformational this season and it’s been a pleasure to see them – with all their passion, colour and energy – in their rightful place, reunited with our teams.”

British Chambers research finds little love for EU trade deal amongst businesses

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New research carried out by the British Chambers of Commerce of more than 1,000 businesses has highlighted a host of issues with the UK’s trade deal with Europe. The BCC believes urgent steps should be taken to address these problems so the UK Government’s ambition to increase the number of firms exporting can be met. Overall, just 8% of firms agreed that the Trade and Co-operation Agreement (TCA) was enabling their business to grow or increase sales, while 54% disagreed. For UK exporters 12% agreed that the TCA was helping them while 71% disagreed. When asked to comment on the specific advantage (for those that agreed) or disadvantage (for those that disagreed) of the trade deal, 59 firms identified an advantage, while 320 cited a disadvantage. Of the 59 comments received on the advantage of the TCA, firms said:
  • It had allowed some companies to continue to trade without significant change
  • It had encouraged firms to look at other global markets
  • It had provided stability to allow firms to plan.
Of the 320 comments received on the disadvantage of the TCA, firms said:
  • It had led to rising costs for companies and their clients
  • Smaller businesses did not have the time and money to deal with the bureaucracy it had introduced
  • It had put off EU customers from considering UK goods and services – due to the perceived costs and complexities.
This follows BCC research in October 2021, which found that 60% of exporters were facing difficulties adapting to the changes from the TCA on goods trade, while 17% found the changes easy. Reacting to the findings, William Bain, head of trade policy at the BCC, said: “This is the latest BCC research to clearly show there are issues with the EU trade deal that need to be improved. Yet it could be so different. There are five relatively simple steps that UK and EU policymakers could take to ease the burden placed on businesses struggling with the trade deal. “Nearly all of the businesses in this research have fewer than 250 employees and these smaller firms are feeling most of the pain of the new burdens in the TCA. “Many of these companies have neither the time, staff or money to deal with the additional paperwork and rising costs involved with EU trade, nor can they afford to set up a new base in Europe or pay for intermediaries to represent them. “But if both sides take a pragmatic approach, they could reach a new understanding on the rules and then build on that further. “Accredited Chambers of Commerce support the UK Government’s ambition to massively increase the number of firms exporting. If we can free up the flow of goods and services into the EU, our largest overseas market, it will go a long way to realising that goal.” The BCC’s five key issues, and the solutions needed, to improve EU trade are: ISSUE: Export health certificates cost too much and take up too much time for smaller food exporters. SOLUTION:  We need a supplementary deal on this which either eliminates or reduces the complexity of exporting food for these firms. ISSUE: Some companies are being asked to register in multiple EU states for VAT in order to sell online to customers there. SOLUTION: We need a supplementary deal, like Norway’s with the EU. This exempts the smallest firms from the requirement to have a fiscal representative and incur these duplicate costs. ISSUE: As things stand CE marked industrial and electrical products will not be permitted for sale on the market in Great Britain from January 2023. The same is true for components and spares. SOLUTION: We need action from the Government to help businesses with these timelines. Many firms are far from convinced about a ban on CE marked goods in Great Britain. ISSUE: UK firms facing limitations on business travel and work activities in the EU. SOLUTION: Government needs to make side deals with the EU and member states to boost access in this area as a priority for 2022. ISSUE: Companies starting to be pursued in respect of import customs declarations deferred from last year. SOLUTION: We need a pragmatic approach to enforcement to ensure companies recovering from the pandemic do not face heavy-handed demands too quickly on import payments, or paperwork.

Chesterfield Museum prepares for multi-million pound renovation

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Chesterfield Museum is set to close in preparation for a multi-million-pound renovation project that will create an enhanced and improved customer experience. It is the next step in the refurbishment of Chesterfield’s historic Stephenson Memorial Hall, which houses the museum and The Pomegranate Theatre. Proposals for the renovation of the Grade 2 listed building are due to go before Chesterfield Borough Council’s Planning Committee on Monday 28 February and, if approved, the museum will close from Tuesday 1 March to begin the complex process of moving the historic collection into safe storage. The project is projected to cost around £15 million with £11 million of funding being secured via the Government’s Levelling Up Fund. Chesterfield Borough Council has received almost £20 million through this Government fund, the other £8 million will be used to support and enhance the Revitalising the Heart of Chesterfield Project. Together this funding will help ensure that Chesterfield is a vibrant market town by improving connections across the town centre and enhancing the visitor economy. Under the plans the refurbished Stephenson Memorial Hall will bring together an extended Pomegranate Theatre, a reconfigured and modern museum, alongside new gallery space, a café bar, education and community facilities. The work will also protect the Grade 2 listed building and ensure that it remains part of the borough’s heritage for many more generations to come. Creating a more accessible experience is another key aim of the proposals. The plans include a new lift which would help disabled guests access the circle and upper museum floors and to compliment this there would be an increased number of wheelchair spaces within the theatre. Also included in the plans are improvements to lighting, heating, and ventilation. Councillor Kate Sarvent, Chesterfield Borough Council’s cabinet member for town centres and visitor economy, explained: “Stephenson Memorial Hall is one of our most striking buildings and these exciting plans are set to make it even more memorable and enjoyable – creating a modern visitor experience in the heart of our town centre. “Our wonderful museum is a central part of the building and we’re now preparing for the huge and complex task of moving thousands of treasured items that are in our local collections to a safe, temporary home. Subject to planning approval, the museum will close at the start of March, and building work is set to begin later in the year.” Items in the collection will be securely stored in a controlled environment to ensure preservation. One of the signature pieces, the medieval builder’s wheel, will be stored with a specialist renovator who will clean it whilst work progresses in the building. Councillor Sarvent added: “We’re working hard to make sure people will still be able to enjoy our theatre and museum attractions in new and innovative ways while the transformation of the building is carried out. “Our team at the museum regularly host interactive activities and events to help all members of our community connect with our history and we’re exploring even more ways to do this over the coming years – you’ll be able to find out more about our plans on our website and social media pages soon.” Revolution House, which tells the story of the Revolution of 1688, will reopen on Friday 15 April. Whilst the Museum collection is moved the Pomegranate Theatre will continue to operate as normal.

‘Stronger Economies’ and ‘Stronger Communities’: council plans for the future

Two plans that will steer the future of North East Lincolnshire in the years ahead have been approved by the Council’s Cabinet. Members of the Cabinet met this week and gave their formal support to both the North East Lincolnshire Council Plan, and the Budget, Finance and Commissioning Plan. Both cover the next three to five years. They detail the plans of each main service area within the council, the projects and priorities within those areas and how they will be supported. The Council Plan is a far-reaching document that details the services to be delivered and developments planned in the next five years. It also outlines the ambition of North East Lincolnshire Council to work with its partners to create ‘Stronger Economies’ and ‘Stronger Communities’, under five main headers:
  • Learning and Skills
  • Investing in our Future
  • Vitality & Health
  • Economic Recovery and Growth
  • Sustainable & Safe
Using the above ‘outcomes’ senior officers have mapped out their target achievements within vital areas such as Children’s Services, Public Health and Adult Social Care. This work runs alongside the ambition to improve education for all, to achieve continued regeneration across the borough and improve prospects. Of this Plan, Council Leader, Cllr Philip Jackson said: “This provides us with a real focus on what we must achieve and how we must work together to overcome the challenges and realise the opportunities.” Meanwhile the in-depth report that makes up the Budget, Finance and Commissioning Plan details how the authority will work to support the delivery of the Council Plan. Within the document, it is highlighted how it will need to be regularly reviewed and updated as and when present uncertainties become clear. These include the way Central Government decides to fund local government in the future, which is currently subject to discussion with the recent release of the Levelling Up White Paper. It adds how significant demands upon areas like children and adult social care, and the continued impact of the pandemic have also impacted on the content of the plan and the finances of the council moving forward. The report adds: “The plan itself is set within the context of significant change and challenge for the organisation. There are a wide range of issues, both local and national, which have been taken into account when developing the plan. Key issues include the continued and longer-term impacts of COVID 19, wider health and social care reform, demographic pressures on social care demand and the specific challenges currently faced within Children’s Services.” It confirmed how, for the financial year running from April 2022 to March 2023, North East Lincolnshire Council had received a real-terms increase in funding of four per cent from the Local Government Financial Settlement. This includes the approved 1.98 increase in the base council tax with a further one per cent added for adult social care. As reported, those living in Band A to D households across the country will receive a £150 payment to help alleviate the cost-of-living crisis. Cllr Jackson added: “This financial report, again recognises our ambition but also highlights the financial times we are all living in, which have been significantly impacted by events over the last two years. However, what we must recognise is how the Levelling Up agenda is set to give authorities like ours the opportunity to attract investment and therefore encourage work to continue to regenerate and give us a new start in many areas.” Both plans will now go to Full Council with a recommendation from Cabinet for approval.

Ochiba Business Solutions welcome apprentices to learn IT trade

Ochiba Business Solutions has demonstrated its commitment to nurturing the next generation of IT professionals after taking on three new apprentices.

The Chesterfield-based company helps businesses become more efficient and profitable through implementing SAP Business One – the world’s leading ERP software designed specifically for SMEs.

The three apprentices who have joined Ochiba are Mitchell Batty, Robert Dickinson and Max Easton.

Mitchell, who is studying A-Levels in Economics, Product Design and Maths, is passionate about IT and looking for real-world experience as an IT technician.

Robert, who has a degree in Human Biology from University of Huddersfield, has been a hobby programmer since he was a teenager and wants to turn his passion into a career as a software developer.

Max is currently working as a warehouse and sales assistant and seeks to develop and broaden his work experience and skillset in the IT industry.

Dave Worsman, managing director, from Ochiba, said: “We are thrilled to welcome Mitchell, Robert and Max to our apprenticeship programme.

“As a company we are passionate about investing in the next generation of IT professionals so we can continue to provide the first-class solutions our customers expect. Our new apprentices will have the opportunity to work closely with, and learn from, our highly experienced team of consultants and developers.

“We’re sure they will find the apprenticeship a useful and rewarding experience as they prepare to take the next step in their respective careers.”

Major student accommodation scheme reaching to 19 storeys planned for Nottingham

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Plans for a major new student accommodation development have been revealed for Nottingham. The part 6, part 7, part 10 and part 19 storey scheme is proposed to sit at the corner of Traffic Street and Wilford Road, within the Southside Regeneration Zone. The site has been vacant for several years, and most recently in use as a depot until demolition and clearance. The new scheme would feature 47 shared cluster flats of varied sizes and 134 studios, equating to a total of 356 rooms. A statement submitted to Nottingham City Council on behalf of Jensco, who are behind the plans, says: “This development offers significant regenerative opportunities to resolve a vacant brownfield site on a key arterial route into Nottingham City Centre and close to the railway station.”

Bridge Help appoints new business development manager

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Chesterfield-based bespoke bridging loan provider, Bridge Help, has further strengthened its business development team with the appointment of Mo Miah. Bringing 11 years’ experience with major high street banks and building societies, Mo joins Bridge Help’s team of regional business development managers. His appointment follows significant growth for Bridge Help during 2021 in which the short-term lender exceeded its own projections, lending more than £23 million. Based in north London, Mo will be working alongside Bridge Help’s business development team managing broker and lender relationships throughout the country. Making the move from a high street lender background, Mo is looking forward to the challenge of working with Bridge Help which specialises in complex deals that mainstream lenders traditionally avoid. He said: “I’m passionate about helping people and providing great customer service, that’s why I got into this sector. Working at Bridge Help is a great opportunity for me to develop broker relationships and work alongside them throughout the loan process from initial enquiry to securing funds. That is a very exciting prospect for me.” Welcoming Mo to the team, Chris Sellars, Chief Executive of Bridge Help, said: “We’re delighted to welcome Mo onboard. Developing and maintaining strong broker relationships is at the heart of what we do and a key reason why we can make what seems like an impossible deal, possible.” Mo added: “Bridge Help takes a refreshing approach to commercial lending and I’m excited to be part of it. I already feel like I’m very much part of the team.” Outside work, Mo is kept busy with his two young children, spending time with his wife and his extended family. When he does get time to himself, he enjoys playing 5-a-side and 8-a-side football.