JANUARY 2024 EAST MIDLANDS LEADING BUSINESS MAGAZINE www..co.uk WWW.EASTMIDLANDSBUSINESSLINK.CO.UK WWW.EASTMIDLANDSBUSINESSLINK.CO.UK £3.50 Looking ahead Seeking supportHeightened risk NTERN NATION AL Fut pro Fut ture fi g coding bility ce g Labelling, c and traaceab Food scienc Environmen spotlight ntal agingkc aa P rld o our guide to the pharmaceutical wY Issue 4 1olume 1 V mpeeee T profitable Sustainable, ature er bl a Unyielding i contro em l ll a Handlingth handli M net www .pbiforum.ne SEPTEMBER 2023 EAST MIDLANDS LEA £3.50 EADING BUSINESS MAGA AZINE een going gr WW The business case eo DMS Comms, Collab WW the barriers Organisatio bs and ANDSBUSINE rstoexceence ning - onal lear ESSLNKCOU w UK .co.uk www EMPOWER Your Business T OCTOB £2.95 BER2023 BreastC Hair & B Cce Bty WithLou In Love Month Awaren B th BLM GROUP www.blmgroup.co.uk Heritage Lincolns hi WWW.LINCWWW.LINC OLNSHIRETOOLNSHIRETO ODAYNEODAYNE september 2023 yorkshire & lincolnsh £3.50 shire’s leading business ma magazine VOLUME38SSUE09 .blmgroup.co.ukwww organ c Over Automation driving adaption success Driving business ning isational lear comngbaeso V w Often Imitated - Never Equalled www.blmgroup.co.ukwww.eastmidlandsbusinesslink.co.ukEast Midlands Business Link 3 EDITORS NOTES A new year is upon us, and all eyes are focused on the future. They almost have to be seeing how rough 2023 has been. Alas, it’s hard to imagine any big changes happening to the economy in the early part of the year. The government is busy in “panic mode” trying to win back polls, and the line they’ve chosen to fight over isn’t the economy but culture wars and migrants, neither of which will help businesses a single bit. Naturally, it’s going to have to be up to business leaders themselves to make the most of what little they’ve been given. This year may well be paramount for many in our region, and starting off strong is key. During COVID, we had to learn to be lean, and there may be lessons from that time that we can apply now. Whether that be looking at your suppliers and seeing which, if any, can be switched out, or tracking and quantifying parts of the business to see what sections are and aren’t performing to their full potential. The year ahead is likely to be one where difficult decisions will have to be made. You can’t spell opportunity without crisis, however, and as horrible as it may sound a difficult situation like this will create opportunities for those able to keep themselves afloat, even if that’s catching a share of the lost customers of the businesses which aren’t able to navigate the treacherous waters. It’s a business owner’s responsibility to manage their assets, and sometimes that means managing them through the harshest conditions. The period ahead may well separate the great directors from those who coasted by on fairer conditions. Good reading, as always Michael Fisher Editor@BLMEastMidlands BLMEastMidlands Latest news 6 A round-up of the latest news from our region. De Montfort University Q&A 16 Dr Danny Buckley, senior lecturer in enterprise at De Montfort University Leicester (DMU), separates apprenticeship facts from fiction in this month’s Q&A. Commercial property 18 Business Link reflects on major East Midlands property milestones from the last month. 2024 business predictions 22 It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead. Productivity and efficiency in manufacturing spotlight 26 We explore the challenges faced in manufacturing and delve into strategic solutions for navigating the constant evolutions of modern production. Tax 30 Michael Ball, tax partner at Streets Chartered Accountants, considers the topic of cryptocurrency tax reporting. Corporate finance 32 While grassroots options are always there for businesses looking to raise funds independently, a wealth of diverse lenders is out there, ready to help with maintaining the stability you need for all your expansion efforts. IT and communications 36 The United Kingdom finds itself atop the list of the world’s most cyber-threatened nations, according to a recent report. Issued by the Parliament’s Joint Committee on the National Security Strategy (JCNSS), the report found that the UK remains ill-equipped to thwart large-scale ransomware assaults. Public relations 40 Greg Simpson, founder of Press for Attention PR, reflects on the PR prowess of Sir Richard Branson. Logistics and transport 42 Our region needs more warehouses and more logistics companies, and yet no one can take advantage of this gap in the market due to a lack of workers. New year, near supplier 45 How effective are your suppliers? Are they pulling their weight? With rising economic strife across the country, it may be worth spending the first few months of 2024 checking if yours are supporting you as much as they should be. Renewables48 By getting to grips with the UK’s growing renewables sector, businesses can cut costs, boost their green credentials, and contribute to a sustainable and profitable future. AutoLink 52 New year new motor? Perhaps not with the rising cost of living, but that doesn’t mean we can’t keep an eye on the new entries coming to market that we can buy a couple of months into the year. • RACE Q&A JANUARY 2024 EAST MIDLANDS £3.50 LEADING BUSINESS MAAGAZINE Seeking supp W port Looking ah WWWEASTMI Heigh head IDLANDSBUS htened risk INESSLINKCOOUK .co.ukwww. Cover photographs courtesy: • stock.adobe.com/MangKangMangMee • Chlorophylle • Natalya • Quality Stock Arts • ipopba Contents January 2024 Corporate hospitality58 A new year inevitably means a whole host of new networking events and opportunities you may not really be excited to attend. It’s also pointless attending if you’re not going to get anything out of it, so here are some tips on how to get the most from your networking. Events60 A timely look at forthcoming business events around the East Midlands. And finally...62 Here’s Frazer’s collection of the weird and wonderful ‘news’ that came his way over the last few weeks.48 Group Editor Steve Fisher s.fisher@blmgroup.co.uk Editor Michael Fisher m.fisher@blmgroup.co.uk Journalist Tess Egginton t.egginton@blmgroup.co.uk Sales Director Angela Cooper a.cooper@blmgroup.co.uk Tel: (01472) 310310 Accounts & Subscriptions Angela Sharman accounts@blmgroup.co.uk Tel: (01472) 310301 Fax: (01472) 310311 Design & Production Gary Jorgensen, Mark Casson studio@blmgroup.co.uk Tel: (01472) 310304 E-Mail: eastmidlands@blmgroup.co.uk Publisher Haychart Ltd, t/a Business Link Magazine Group, Huntingdon House, 278-290 Huntingdon Street, Nottingham NG1 3LY All rights reserved. No part of this publication may be reproduced, transmitted, photocopied, recorded or otherwise without express permission of the copyright holder, for which application should be addressed first to the publisher. While every reasonable care is taken, neither the publisher nor its participating agents accept liability for loss or damage to prints, colour transparencies, negatives or other material of whatever nature submitted to this publication. The views expressed in this publication are not necessarily the views of those held by the publisher. East Midlands Business Link www.eastmidlandsbusinesslink.co.uk GENERAL NEWS Mazars in the East Midlands to benefit from formation of global network Mazars, the audit, tax, and advisory firm, and FORVIS, the eighth largest public accounting firm in the United States, will create a new, top 10 global network. As a result of this global network, Mazars in the East Midlands will benefit from collaboration with, and greater access to, specialist US expertise. The network will operate under a single brand worldwide, Forvis Mazars. With around $5bn in revenue, Forvis Mazars will be a new entrant in the top 10 global network rankings. Both network members will remain owned by their current respective partnerships. Steve English, office managing partner, Mazars in the East Midlands, said: “We are incredibly excited to be part of this global network and look forward to the opportunities it will offer us. “Through collaboration with our new colleagues and greater access to specialist expertise in the US, we will be able to enhance our offering and service for our clients, especially those with US and international needs. We look forward to working closely with them on future opportunities.” £200,000 programme to create a more inclusive workforce Admin and More, the Kettering business which offers tailored support via virtual PA services, is set to launch a programme that has the power to transform thousands of lives and change the landscape and culture of the UK workplace. The company, set-up and run by Elizabeth Wright, is aiming to raise £200,000 to create a more inclusive workforce by providing meaningful work placements for all individuals with disabilities. The programme, called EmpowerAbility, will include: six weeks of office-based work experience, essential skills development, 12 months of ongoing tailored support and mentoring, and an employment scheme with inclusive employers. It will initially be run as a pilot project from Admin and More’s new Kettering HQ and if this is successful, Elizabeth plans to expand across the country by collaborating with more businesses and opening more offices. By creating this movement, Elizabeth and her new diversity and operations manager, Samantha Roberts, aim to help 156 disabled people get and stay in employment in the first year. East Midlands firms choose productivity, growth and investment as top New Year’s resolutions New research from Lloyds Bank has found that two fifths of East Midlands businesses are making New Year’s resolutions to improve their productivity, as businesses signal confidence in more positive macroeconomic conditions ahead. This optimism about the future comes after 2023 being a tough year for businesses, as they faced into high inflation and a sluggish economy. The data revealed the top three areas where firms are focusing their attention as they head into the new year, with two fifths concentrating on developing their business, a third focusing on staff training, and another third looking to hire more staff. As businesses take stock of 2023, many are reporting they are looking at ways to ensure they have a healthy cashflow, with more than a third of firms planning to keep a closer eye on costs over the next 12 months. The data also shows that businesses are setting themselves up for growth, by building teams to support new opportunities, with over half expecting to hire more staff in the New Year. Steve English Elizabeth Wright Businesses back action at M1’s Junction 28 to unlock the region’s economic potential Businesses based around Junction 28 of the M1 are joining calls for government investment to address the now famous queues the junction faces every day. A report released by Midlands Connect highlights the real benefits of upgrading the junction. Speaking to Midlands Connect, local firms outlined the junction is costing them business, damaging the environment, putting employees at risk, and even holding back local economic growth. Firms also believe the current junction arrangements are creating dangerous road conditions and unnecessary pollution levels for local people. Maria Machancoses, CEO of Midlands Connect, commenting on the release of the report said: “We have listened to the concerns of local businesses and stakeholders, and there is a unanimous call for action to address the challenges which are posed at this junction. “Investing in this critical infrastructure is not just about improving traffic flow; it is about unlocking the economic potential of the entire region, reducing pollution and keeping road users safe.” www.eastmidlandsbusinesslink.co.uk East Midlands Business Link GENERAL NEWS • Commercial • Events • Headshots • Automotive • Fashion CALL OR EMAIL FOR A QUOTE 07506 998855 STEVE@STEVEEDWARDSPHOTOGRAPHY.COM STEVEEDWARDSPHOTOGRAPHY.COM Creating eye-catching images to help businesses build their brands and engage with clients. Demand for green jobs in East Midlands declines in cooling labour market The number of green jobs advertised in the East Midlands has fallen from the record levels recorded in 2022, finds PwC’s latest Green Jobs Barometer. There were 13,057 green opportunities advertised in the region in 2023, compared to over 20,500 in 2022, a 36.1% decrease. Green jobs accounted for 2.15% of total overall roles in the region in 2023, decreasing slightly from 2.17% in 2022. While the barometer found a 22.4% increase in the number of green jobs advertised in the public administration and defence; compulsory social security sector, this was offset by reductions in other sectors including manufacturing (- 50.4%) and construction (50.6%). The barometer results come during a challenging economic time which has seen the number of total advertised roles in the UK fall by 29%, while the number of green jobs fell by 26%. © stock.adobe.com/ MelaniePhotos © stock.adobe.com/auremar © stock.adobe.com/ Miha CreativeProperty consultancy strengthens Ashby planning team with four appointments A property consultancy has strengthened its planning team in Ashby after making four appointments. Fisher German has welcomed John Nicol as a planner, Kerry Andrews as an assistant planner, and Isabelle Holliday and Jabu Phiri as graduate planners. John has more than four-and-a-half years’ experience in planning, originally beginning his career in the public sector before moving into the private sector. In his last role, John specialised in renewable energy projects, obtaining planning permission and carrying out pre and post-planning approval project management. Kerry joins the firm after spending more than four years working in the public sector, specialising in planning policy and supporting the development of the authority’s local plan. Isabelle is welcomed to the firm after studying Human Geography at the Manchester Metropolitan University and a master’s degree in Urban and Regional Planning at the University of Sheffield. Jabu joins after studying English at the University of Liverpool followed by a postgraduate degree in planning at the University of Manchester. APPOINTMENTS Blueprint Interiors expands office furniture capability Workplace consultants and commercial office fit out specialists Blueprint Interiors has expanded its furniture supply team following the appointment of Sinead McCaffery as a furniture project coordinator. Sinead has extensive experience in the commercial interior design and retail industries and is passionate about all aspects of art and design. In her new role, Sinead will report to furniture manager Gemma Ryder and be involved in project managing furniture orders and arranging delivery schedules to ensure Blueprint Interiors continues to provide excellent customer service and projects are delivered to the highest standard. Head of furniture, Gemma Ryder said: “Flexible working and how employees prefer to work means that the specification of office furniture is a much more considered decision. There is a greater wider range of options available from leading UK and international furniture manufacturers. It is therefore important that we expand the size of the team so that the ordering and delivery of furniture is carefully co-ordinated alongside the overall office fit-out schedule.” East Midlands Business Link www.eastmidlandsbusinesslink.co.uk Raft of promotions and appointments as Grant Thornton’s Midlands Corporate Finance team sees strong growth Grant Thornton UK LLP’s Midlands Corporate Finance team has reported strong recent growth – both in deals and in its team – despite challenging conditions in the marketplace. In line with the firm’s deal activity, it has made a number of promotions and appointments, including Harry Gabriel being promoted to director. Harry first joined the Grant Thornton team in 2014 and has risen through the ranks in his nine years with the firm. He now supports Nick Gillott, head of Midlands Corporate Finance, in leading the regional Midlands business and leads on regional healthcare sector coverage, including private care, medical devices, life sciences and pharma. In addition, Harry Aston and Lydia Bullock have been promoted to manager, with Harnil Motivaras also joining as a manager to add to the team’s East Midlands presence. John Nicol, Jabu Phiri, Kerry Andrews and Isabelle Holliday L-R: Tom Johnson, Daniel Crumpton, Lydia Bullock, Harnil Motivaras, Nick Gillott, Oliver Knight, Harry Gabriel, George Twogood, Harry Aston Sinead McCafferyNew director of landscape architecture for Pick Everard in Leicester Multi-disciplinary consultancy Pick Everard has made a key hire with the appointment of Nicola Hamill as its new director of landscape architecture, further driving the firm’s growth. Nicola brings with her almost three decades of experience in the public realm, enhancing the team’s capabilities, output, and innovations. Her expertise lies specifically in working on urban design, regeneration, and developing places for people, with previous projects having included the Finberry homes development in South Ashford. Her day-to-day responsibilities will see her engaging in mentoring, interdisciplinary discussions, and design reviews, working initially across two of the firm’s locations in London and Leicester. Nicola said: “Pick Everard is a firm that’s renowned for its dynamic approach and diverse project portfolio. The potential here to expand my capabilities while working alongside a broad spectrum of clients and consultants was one of the large draws for me. It’s an exciting time for Pick Everard and I feel privileged to be part of the team. “Leadership is about identifying, bringing out, and enhancing a team’s individual skills and strengths, and marrying them to our business objectives. This is where my focus will be in my new role, so that we can further build towards our targets and support sector growth.” Hinckley & Rugby Building Society appoints new CEO Hinckley & Rugby Building Society has appointed Barry Carter as the mutual’s new Chief Executive Officer, with Colin Fyfe stepping down after five years in the role. Barry Carter is currently the Society’s Chief Operating Officer; a role he has held since July 2022. Colin Franklin, Chair of the Board, said: “Colin leaves us in fantastic shape and with a great team of people in place, and we are incredibly grateful for all the good things that he has achieved. In passing the reins to Barry, he is handing over to someone who has already proved to be an effective leader, and who is clearly passionate about our Society and its members.” Speaking about his appointment, Barry Carter said: “As COO I have been working very closely with Colin Fyfe for the last eighteen months. We have shared a vision and have developed the Society’s strategy together, enjoying a partnership with the same synergy that a Chair and Vice-Chair would. Consequently, this feels like a very smooth and natural transition.” Barry Carter has more than 21 years of experience in financial services. Prior to joining Hinckley & Rugby as COO in July 2022, he was COO at HSBC Private Bank. He is a Chartered Certified Accountant, Chartered Banker, and is a Member of the Chartered Institute for Securities and Investments. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link APPOINTMENTS EY appoints new UK insurance leader EY has appointed Martina Neary as its UK insurance leader, joining the UK financial services leadership team to lead across general insurance, life and pensions and specialty insurance. In addition to her new role, Martina will remain as the financial services Midlands leader for all sectors and service lines and continue to focus on her portfolio of clients. Martina joined EY in 2016 as a partner in the CFO advisory business. In 2020, she stepped into the role of EY’s UK financial services Midlands leader, and in 2021 she also became EY’s UK life and pensions insurance leader. Prior to joining EY, she spent fifteen years with KPMG. Martina takes over the role of UK insurance leader from Rodney Bonnard, who led the UK insurance business since 2015, overseeing double digit year-on-year growth during that period. Rodney remains a core part of EY’s UK financial services leadership team and continues his role as UK financial services markets leader. Commenting on Martina’s appointment, Anna Anthony, UK financial services managing partner at EY, says: “I am delighted to see Martina take on the role of UK insurance leader. Her progression into this role reflects the instrumental contribution she has made to EY’s UK life and pensions business, and valued leadership of the UK financial services business in the Midlands. “Just as it did under Rodney’s leadership, I know EY’s insurance practice will continue to play a pivotal role in shaping the future of the sector and delivering excellence for our clients.” Martina Neary Barry Carter Nicola HamillNext >