Now you are 50 and perhaps a little bit more… by James Pinchbeck, partner at Streets Chartered Accountants

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James Pinchbeck, partner at Streets Chartered Accountants, considers the changes we face at work as we grow older. It might be said that being in your 50s is now like being in your 40s and the 50s are the new 40s. However, when it comes to the work people do, and the jobs they have, there can be significant changes and challenges. Perhaps the most obvious change is getting older and the challenges that present themselves in terms of health and the energy and ability to work. Certainly, those with a more physically demanding job can often find it more and more challenging. More generally though as we get older, we can be more prone to illness and the overall ageing process. For women especially, going through and managing the menopause can and does have a significant impact on their ability to work. We may also face the need to support more elderly family members. Older workers are also often, very wrongly, stereotyped as being less agile and resistant to change. Whilst in terms of more physically demanding work, agility may be an issue, the ability to learn and adopt new ideas and new skills certainly is not age limited. How many world leaders, business people and academics are well into their 70s and even beyond? Burnout can also be a challenge for older workers, with work becoming or seeming monotonous, a chore and even a burden, as opposed to a rewarding activity, with a real sense of purpose and value. As people approach retirement and perhaps more recently with the cost-of-living crisis, thoughts more often turn to, or are more focused on, managing or coping with financial strains and burdens as well as providing for the future. Taking all this into account, what might those aged 50 and over, as well as employers, look to do to manage some of the challenges and to improve the lives of individuals. Perhaps the starting point for many employers is simply recognising the situation and the needs of an aging workforce, and then looking how it can support and manage team members. Whilst there is unlikely to be a one size fits all solution, there are a number of things that might be considered including:
  • The provision of flexible working to accommodate individual circumstances and needs, as well as to accommodate those with caring responsibilities
  • A review of individuals’ roles and responsibilities, along with perhaps the potential to offer alternative roles that are more suited to any one individual
  • More routine and structured assessments of skills, knowledge and competency and how any gaps can be addressed or provided for
  • Consideration to mentoring for employees to support them both in and outside the workplace
  • A review of working practices and environment, considering changes to accommodate employee needs
  • Adopting a more obvious culture and positive mindset for understanding and supporting employees of all ages, but specifically the over 50s
For some individuals this time of life can be one that gives rise to total career change, whether to pursue a new interest, secure greater financial stability or to have a job that may be more suited to their health and personal circumstance. For others it is the time to switch from employment to self-employment and start their own business, which seems to be the choice for a growing number of people. So, whilst the 50s might not be the new 40s, those aged 50 and over certainly do have a lot to offer and have significant roles to play in our organisations and society.   See this column in the November issue of East Midlands Business Link Magazine.

E-commerce sales boost hack you NEED to know!

If you manage a website that sells products directly and wish you could generate more sales, you’re not alone. Lots of brand and e-commerce websites are in the same position – struggling to drive more traffic to the site, or convince enough of the existing website visitors to buy. By embedding high quality product videos throughout your site, you can create a snowball effect sales boost – a positive feedback loop that not only converts many more visitors into customers, but also continually brings in more and more website traffic, greatly increasing the number of opportunities for sales conversions to occur. The product videos, if they are high quality and persuasive, greatly boost the chance of a sales conversion. Plus, the very fact you have compelling product video embedded in your website is also a fantastic way to boost your Google search ranking (SEO) and win more organic traffic. Google’s algorithm generally favours websites with high quality, relevant video embedded. That’s because the videos usually increase website visitor ‘dwell time’, i.e. they spend a longer time on your website before leaving, implying to Google that your website is a good fit for relevant searches. This gradually improves your search ranking over time, which leads to you receiving more organic website traffic. This new traffic then watches your product videos as well, which increases their ‘dwell time’ – providing more evidence to Google that your website is highly relevant to certain search terms. This, in turn, then drives even more traffic to your site. It’s a positive feedback loop.
All these new website visitors are at a much greater chance of becoming customers, too, because the video itself – so long as it is to a professional standard that inspires customer confidence – will persuade many more people to buy. This is what we mean by the snowball effect sales boost that high-quality product videos create. They not only greatly improve the chances of a sales conversion, but also – thanks to their SEO benefits – they continually build momentum in terms of creating more and more opportunities for that sales conversion to happen. The snowball can keep getting bigger and bigger, to the point where if you sell products through your website, it becomes a no-brainer to embed professionally-crafted videos throughout your product listings – automatically increasing revenue with this simple action. Specialist product video production companies can deliver the professionalism required, while also being able to demonstrate product features and functionality in a clearer and more compelling way as compared to showing only static images or making your own low-budget videos. This results in your potential customer having a lot more confidence and being much more likely to complete a purchase. For more information visit www.glowfrogvideo.com/product

Shakespeare Martineau announces East Midlands promotions

National law firm for life and business Shakespeare Martineau has announced 18 promotions across a variety of teams and locations, including eight in Nottingham, Leicester and Lincoln. Effective November 2024, Nottingham-based Hannah Awcock and Rebecca Jones-Fox and Leicester-based Emma Ali and Alex Ryan have all been promoted to legal director. Promoted to associate are Charley McEvoy in Leicester; Natalie Thorpe and Josh Morley in Nottingham; and Calum Hanrahan in Lincoln. Legal director Hannah Awcock advises on all aspects of commercial property transactions, and specialises in development finance for banks and other funders.  She has particular expertise in dealing with unregistered land. Also in the commercial property team, Emma Ali is involved in the acquisition and disposal of land and property, the grant and renewal of commercial leases, residential lease extensions, and other property matters. Emma also advises housing associations on property law matters. Rebecca Jones-Fox works in the real estate and energy team with a focus on high volume transactions for utilities clients. Rebecca has experience working with the country’s largest utility network operators. Alex, who is in the dispute resolution team, deals with a wide variety of complex and high value disputes, often in the High Court, including those relating to breach of contract as well as corporate disputes, including breach of warranty and shareholder disputes. He also handles healthcare disputes, particularly involving the CQC, and contentious procurement matters. Promoted to associate, Charley McEvoy works in the corporate team; Natalie Thorpe is dispute resolution expert; and Josh Morley is a legal planner. Calum Hanrahan specialises in immigration. Victoria Tester, managing director at Shakespeare Martineau, said: “I am thrilled to see so many of our existing and emerging leaders promoted across such a broad range of teams and office hubs. “Developing home-grown talent is hugely important; we know that our investments in training and coaching pay back dividends in the quality of service our people provide to our clients and in the way they pay it forward in supporting their colleagues who are just starting their careers with us. “Congratulations to all who have taken this significant step in their careers.”

Sustainability in focus at this year’s Climate Action Festival

Now in its fourth year, the Climate Action Festival from the University of Lincoln, UK, is back for 2024 this November and it’s bigger and better than ever! The Festival is held over six days and is taking place this year between 18 and 23 November, finishing with a citywide community litter pick on the Saturday. The Festival is dedicated to raising climate awareness, and aims to highlight how everyone can take positive climate action in their communities and wider afield. This year’s themes are Climate Education, Nature Positive and Community, and will include events that celebrate nature, sustainable fashion, art and more. The Festival has also been recognised by the prestigious UK and Ireland Green Gown Awards, and will be on the shortlist at this year’s award ceremony. Visitors to this year’s Festival can take part in Tree Walks, learn how to survey wildlife, attend the Wild Lincolnshire Panel and much more. There will be plenty of opportunities to get creative by learning how to make nature-friendly art or by visiting the art exhibition. All of this as well as an insight into some of the positive sustainability research taking place at the University of Lincoln. Libby John, Professor and Dean of Sustainability at the University of Lincoln said: “Our Climate Action Festival has become an autumnal highlight celebrating all things sustainability! “From fashion to science to wildlife to art and craft there is a varied and exciting timetable of events where staff, students and members of our wider community can contribute and feel positive about their sustainability contribution. “So please take a look at our timetable and sign up for something new!” This year’s Climate Action Festival will be taking place at venues across Lincoln, and will involve more partner organisations than ever before. The Nature Positive Exhibition will be taking place at Project Space + at the Peter De Wint Building on Brayford Campus. A Community Clothes Swap will be held at the Lincoln Arts Centre every day of the Festival.

The Budget: trick or treat

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James Pinchbeck, Marketing Partner, Streets Chartered Accountants Yesterday Rachel Reeves, our first female Chancellor, delivered a Labour government’s first Budget in 14 years. The day before Halloween it certainly seemed to come with its own tricks and treats, but perhaps not the ones you might expect. For a start, it would seem an incoming government chose to blame the previous one for the mess and the financial situation they have inherited. The first 20 minutes of her speech focused on, from her perspective, their predecessors’ failings in terms of delivering on promises and ‘tricks’ to disguise the £22bn black hole. A Budget with a £40bn price tag Against this background she then set out how she and the government were going to ‘rebuild Britain once again’ and restore economic stability. Who might have thought that would come with a £40bn price tag or in this case tax rises. Whilst much of what is said to be raised following the Budget will seek to fill the ‘black hole’, some £20bn should also form part of proposed or rather committed investment in public spending including health, housing, infrastructure, defence and education. All of which, perhaps with the exception of defence spending, should help to improve our lives and economic prosperity. The million-dollar question is who is going to pay for all this? Sticking to their electoral pledge it is not ‘working people’ through changes to income tax, VAT nor employee’s national insurance. No, the biggest contributor looks likely to be businesses, with the proposed increase in employers’ national insurance contributions by 1.2% to 15% and with the earnings threshold reduced from £9,100 to £5,000 from next April, set to raise £25bn a year by the end of this parliament. The Employment Allowance, which allows those with NICs bills of £100,000 or less to deduct £5,000 from their employer NIC bill, will be increased to £10,000. More modest in the tax it will generate, with only £2.5bn forecast to be raised, is the announced increases in Capital Gains Tax (CGT), with the lower rate rising from 10% to 18% and the higher rate from 20% to 24%. It was also announced that the rate of CGT on assets qualifying for Business Asset Disposal Relief and Investors’ Relief will rise gradually to 14% from 6th April 2025 and to 18% from 6th April 2026. Whilst perhaps changes to inheritance tax were not as wide ranging as we thought they might be, changes to Agricultural Property Relief and Business Property will be more impacting. From April 2026, reforms include the first £1million of combined eligible agricultural and business assets for 100% relief, with excess assets at 50%. Also, from next April the government will introduce a new residence-based system for IHT, ending the use of offshore trusts to shelter assets from IHT. Other tax rises include the increase in Stamp Duty Land Tax for the purchases of additional dwellings, changes to company car tax and the charging of VAT on public school fees. These are along with other measures to address tax avoidance, late payment of tax due and the abolishment of the non-domicile regime. What were the treats? Perhaps the treats, for some, may be the announcements were not as wide ranging or hard hitting as might have been expected. Certainly, the continued freeze on fuel duty will be welcome, for lovers of beer so too might be the penny off a pint. For those serving a pint and those in retail, hospitality and leisure it must be good news that for 2025/26 eligible properties will receive 40% relief on their business rates liability, with the small business multiplier to be frozen for 2025/26. For those on the ‘national living wage’ so too will be the increase in rate by 6.7% to £12.21 an hour. What challenges does it present? This Budget raises challenges and potential issues for those looking at inter-generational wealth planning and the handing of assets from one generation to the next, both from a business and personal perspective, but especially for farmers. Also, is the consideration around the timing of the sale and disposal of assets, businesses and property that is subject to CGT and Business Assets Relief, formally Entrepreneurs Relief. The other key area is around absorbing or managing increased staffing costs through the increase in national insurance and the national living wage. It certainly seems more and more challenging to pass on increased costs without affecting revenue, therefore profitability could be at risk. With this Budget setting the scene or tax landscape for the term of this government and with the announcement that we will only have one Budget a year, we should all be better placed to consider effective tax and financial advice to manage our affairs and the challenges and opportunities we face. Often uncertainty is used to defer or put off planning, perhaps for once this Budget provides, whether we like it or not, the certainty we need.

Government changes drive demand for HR expertise as Breedon Consulting expands franchise network across the Midlands

Midlands-based HR consultancy, Breedon Consulting, has welcomed two new franchisees to its team, expanding its reach across the region to meet the rising demand for HR guidance amidst a rapidly evolving legislative landscape. Helen Dinsdale, LLM, will cover South Birmingham – including Redditch, Solihull, and Stratford-upon-Avon, while Maralyn Kitchingman will serve Warwickshire – spanning Warwick, Leamington, Coventry, and Rugby. This strategic expansion aims to position Breedon as a go-to resource for local businesses navigating complex employment law changes and evolving workforce demands. With the UK government preparing to implement some of the most extensive reforms to employment legislation in recent history, the new franchisees join Breedon at a critical time, particularly among SMEs, with HR services expected to be in high demand. The changes include: ‘day one rights’ meaning employees will now be eligible for rights like paternity, parental, and bereavement leave from their very first day; and ‘protections against unfair dismissal’ that will also begin from day one, a shift that necessitates employers to rethink hiring and probationary processes. Managing Director, Nicki Robson, emphasised the importance of Breedon’s expansion in response to this need: “There couldn’t be a better time for Helen and Maralyn to be starting their Breedon journey. The government’s recent announcement of the biggest upgrade to workers’ rights in a generation, will see the introduction of significant changes to employment legislation which all employers will need to grapple with. Many simply won’t have the resource or expertise to handle major changes like this internally, so having a HR expert on hand to guide and advise on what those changes mean and what they need to do, has a clear benefit. “Expanding our franchise network allows us to partner with HR experts who share our passion for collaboration and a consistently high quality of service, to really add value to our clients. Together, we aim to build a robust network that thrives on shared expertise, innovation, and the continuous pursuit of excellence in the HR space.” Franchisee, Helen, brings a diverse and extensive background in HR, with a Masters in Employment Law and experience spanning key roles at Deloitte, The AA, and South Staffordshire Water. With a career that includes leading large-scale HR transformation projects, Helen has developed a strong foundation in HR operations, business partnering, and change management. She is well-versed in the complexities of HR and understands the unique challenges faced by SME enterprises. Her expertise in implementing strategic HR initiatives, from flexible benefits to high-impact employee engagement programs, positions her well to support clients. Helen said: “Breedon’s pragmatic and high-impact approach really stood out to me. The tools, resources, and support provided by Breedon give me everything I need to deliver high-quality, effective HR services. With the significant legislative changes ahead, I look forward to making a difference in my clients’ businesses by helping them adapt with confidence and compliance.” With over 25 years of HR experience across diverse industries, franchisee, Maralyn, is a seasoned HR leader with a track record of aligning people strategies with business objectives to drive growth and innovation. Known for her hands-on and practical approach, Maralyn has played a key role in building HR functions from the ground up, as well as shaping corporate culture and enhancing employee engagement. Her extensive background makes her well-equipped to support businesses as they face the upcoming shifts in employment law. Maralyn said: “For me, joining Breedon was about finding a reputable, established brand with a proven business model. Breedon offers an incredible support system, comprehensive training, and the flexibility to align with my personal goals while delivering exceptional service to my clients. I’m thrilled to be part of a team that is proactive about helping businesses manage these upcoming legislative changes and dedicated to ensuring that HR practices contribute meaningfully to business success.” Breedon Consulting continues to seek experienced HR professionals with commercial acumen to join its franchise network, helping businesses to navigate HR challenges effectively. With its expanded network and comprehensive support framework, the business is committed to guiding organisations through compliance, fostering positive workplace cultures, and strengthening HR practices amid a shifting employment landscape.

SMB College Group launches skills bootcamp on sustainable land management skills

SMB College Group is excited to announce the launch of their brand-new Skills Bootcamp in Level 2 Sustainable Land Management Skills! The Skills Bootcamp is an intensive 12-week course designed to equip individuals with essential practical skills and knowledge for a career in the land management sector, with a strong emphasis on sustainability. Covering key areas such as health and safety, machinery operation, habitat and forestry management, and regenerative agriculture, students will develop confidence in working with chainsaws, tractors, brush cutters, and more, while also learning critical digital tools like mapping software and social media for the land-based sector. With a focus on decarbonizing agriculture, sustainable forestry, and practical estate skills, this course prepares participants to thrive in a rapidly changing environmental landscape. Upon completion, learners will be ready to pursue employment in farming, forestry, environmental management, or related fields, while contributing to a greener future. Alex Gray, Curriculum Quality Lead and Programme and Project Lead for Agriculture at SMB College Group, said “I’m thrilled to announce that this year we’re offering our Sustainable Land Management Skills course. Whether you’re employed, unemployed, or self-employed, this course provides a comprehensive overview of the sustainable land management sector, with insights into the various sub-sectors that play a vital role in environmental stewardship. If you’re passionate about a meaningful and rewarding career in the outdoors but aren’t sure where to start, this course is the perfect springboard into this increasingly significant industry.” The Skills Bootcamp will be taught at SMB College Group’s Brooksby Campus, an 850-acre campus based in the heart of the Leicestershire countryside and specialising in land-based industries. The campus is home to Hall Farm, sprawling fields, an equine centre, and animal studies facilities.

Nottingham named 8th best UK city to start a new business

A new study has revealed the best UK cities to start a new business, with Blackpool taking the top spot. 

Experts at IT service software InvGate analysed data from the Office for National Statistics to find the number of registered businesses in UK cities in 2022 and 2023. The final ranking was determined by the cities with the greatest percentage increase of new businesses from 2022 to 2023. 

Blackpool tops the ranking, with a 7.24% increase in new businesses between 2022 and 2023. The city grew from 3,870 businesses in 2022 to 4,150 in 2023, for a total increase of 280 establishments. 125 of those newly registered businesses were in the transport and storage sector, and 110 were in the business administration and support services sector.  

In second place is Doncaster, with new businesses increasing by 2.23% between 2022 and 2023. Doncaster recorded a gain of 220 establishments, going from 9,870 in 2022 to 10,090 in 2023. 100 of those businesses were in the business administration and support services sector, and 55 were in the construction industry. 

Third in the ranking is Ipswich, with an increase of 2.06% in business establishments between 2022 and 2023. From 4,610 businesses in 2022, Ipswich climbed to 4,705 in 2023 for a total increase of 9545 being in the construction industry and 30 being in the transport and storage sector. 

The importance of landlords giving new tenants a proper welcome  

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According to recent research, nearly one-in-five homes in the UK are privately rented. In such a competitive market, landlords need to be able to build positive relationships with their tenants. A warm and well-organised welcome can go a long way to starting things off on the right foot. Here, we’ll offer a few practical tips that will hopefully foster feelings of goodwill and make a difference in terms of tenant satisfaction, retention and property care.   Making a good first impression This can set the tone for your tenant’s entire experience. A clean, well-maintained property speaks volumes about your commitment and attention to detail. Professional cleaning prior to move-in, for instance, is recommended as it offers a pristine, move-in-ready home that tenants appreciate. And first impressions can be strengthened through well-assembled documentation – for example the tenancy agreement, inventory and safety certificates. Including these in a welcome pack not only covers legal bases but also signals transparency and organisation, key qualities that many tenants look for in a landlord. Effective communication from the outset Introducing yourself, whether in person or through a well-crafted welcome letter, is a great first step. This letter can briefly outline who you are, how to contact you and any key property rules. It’s also helpful to set clear expectations about communication boundaries, such as your preferred contact methods for non-urgent requests. This clarity helps avoid misunderstandings down the line. Fran Giltinan, Managing Director of Property Management & Customer Experience at Foxtons, expands on this point: “You should prioritise a check-in, which ensures you’ve completed all mandatory safety checks. Importantly, it sets a clear baseline for you and your tenant, aligning your expectations for the property’s condition at the tenancy’s end.” Personalised welcome packs This can be digital or physical, providing valuable information and resources. It should include a combination of legal documents (like the tenancy agreement and deposit protection certificate) and practical items, such as manuals for appliances, utility set-up guidance and a local amenities guide. Thoughtful additions, like a few local snacks, gift cards or a directory of nearby services, help tenants feel at home immediately and reduce the need for initial questions. Post move-in support Welcoming tenants doesn’t stop at move-in day. A follow-up message or call a few days after moving in shows tenants that you are approachable and committed to their satisfaction. This simple gesture can be an invitation for them to raise questions they may have hesitated to ask otherwise, such as about recycling schedules, security systems or parking rules. Proactively providing guidance on common issues, like preventing damp or managing utilities, can also be a valuable aspect of post-move support. Building strong relationships Establishing a genuine relationship benefits both parties. When your tenants view you as approachable and considerate, they are more likely to communicate openly, care for the property and stay longer. By engaging with them personally, rather than through agents, you’ll find it easier to resolve issues directly and maintain positive interactions. Over time, tenants who feel valued are generally more cooperative, punctual in rent payments and respectful of the property. Giving your tenants a warm welcome isn’t just about goodwill; it’s a strategic approach to property management. If you can create an environment where they feel respected and at home, this will likely lead to a smoother tenancy, benefiting both sides of the agreement.

Awards…yes it COULD be you, but you need to buy a ticket to win a raffle: by Greg Simpson, founder of Press For Attention PR

Greg Simpson, founder of Press For Attention PR, shares why businesses should be entering awards. Picture yourself in the audience at the Bricks Awards next year or at any awards for that matter. The mystery celeb (or if you’re unlucky, ME) has the envelope clutched tightly. A chance beckons for glory, a whole heap of marketing opportunities, and the kind of positioning and brand boost that only awards can provide. But you haven’t entered. You’re there because it’s a great event full of energy, some networking opportunities and great stories and well, you know some of the finalists, so you’ve popped along to show your support. Well done you! One question remains…why HAVEN’T you entered? You know what winning an award could do for your business. Don’t you?
  • The immediate photo opportunity with the celeb or the judges.
  • A chance to share your story with the audience.
  • Then the thousands of readers of the associated media partner who will get to know who you are and your offering.
  • The social media campaign kickstarted with a blaze of glory.
  • The e-newsletter you can put out again because “I finally have something to say.”
  • The newspaper front page mock-up you send to your prospects.
  • The blog series that shares how you got to where you are today.
  • The interviews you set up with fellow winners that elevate the opportunity for all of you.
  • The chance to come back NEXT year perhaps to present the award to the winner and do it all again.
I could go on. If you need me to, just book a call, I’ve got tonnes of these ideas! As I draft this for Tess and the East Midlands Business Link team, I have 3 awards in the final phases of writing for clients. None of these are the Bricks as they just finished but one is a regional award for a niche finance provider, one is a national industry award, and another is for an MBE – that is pretty involved and is a whole other positioning opportunity! So plenty of people do enter awards, me included because they see the opportunity, but sadly, many others do not. For many, this is a mental block. They just are not very comfortable in the spotlight. They don’t like to “brag” or show off. They worry what people will say if they win or even if they don’t! For others it is a time and resource issue. They find writing a challenge and it is just one more thing that they need to get around to. On the “bragging” issue, please, don’t feel this way. The best awards submissions are based on the transformation that has been achieved, either for the customer, the employee, or the wider impact that the business has created. The human element is in there and indeed the most compelling entries will play this strongly, but there’s a whole heap of difference between showing off vs inspiring others by sharing your journey. On the time issue, well, you can outsource (hi there!) or you can do what I do which is to do a little bit at a time. Begin just by taking notes. Don’t try and answer the questions on the form immediately. Go take a walk and have the questions on a scrap of paper. Bring your phone and just start to record your thoughts. You will recall a lot of things you had totally forgotten. Then go and get them transcribed and you now have loads of raw material to shape your masterpiece from. Now start answering the questions but please note what they are asking. Many awards forms are pretty specific and need proof. Give it to them. Find it. Show it. I actually leave the introduction until last. That is because by then I have a theme and I can set the scene better. Think of it as a trailer for a film. The judges need to be intrigued as they read your entry. Make them want to watch the whole film by whetting their appetite early on with more to be revealed. My key piece of advice – tell a story. Judges don’t need your entire CV, potted history of the business and your inside leg measurement. They want content. They want a great awards night, and they want some people to come back again next year having told their mates. Give them that fuel and reap the rewards in the process.   A former business journalist, Greg Simpson is the author of The Small Business Guide to PR and has been recognised as one of the UK’s top 5 PR consultants, having set up Press for Attention PR in 2008. He has worked for FTSE 100 firms, charities and start-ups and conducted press conferences with Sir Richard Branson and James Caan. His background ensures a deep understanding of every facet of a successful PR campaign – from a journalist’s, client’s, and consultant’s perspective. See this column in the November issue of East Midlands Business Link Magazine.