MARCH 2023 EAST MIDLANDS LEADING BUSINESS MAGAZINE www.blmgroup.co.uk WWW.EASTMIDLANDSBUSINESSLINK.CO.UK WWW.EASTMIDLANDSBUSINESSLINK.CO.UK £3.50 The future for petrochemicals The changing landscape of employment law Sustainability at the heart of all things 01.qxp_Layout 1 07/03/2023 09:11 Page 1www.hopkins-solicitors.co.uk 0115 906 8964 hrsupport@hopkins-solicitors.co.uk Do you wish you had an HR Manager? WE’RE HERE TO HELP Supporting local employers for over a century TRANSPARENT FIXED FEES No expensive long-term contracts HIGHLY RECOMMENDED Top rated employment law firm in Nottinghamshire 02.qxp_Layout 1 07/03/2023 09:11 Page 1www.eastmidlandsbusinesslink.co.ukEast Midlands Business Link 3 EDITORS NOTES The beginning of March is always an interesting time because so much attention is focused on a budget that hasn’t come out yet. Indeed, with the economy reeling and GDP being low compared to our international neighbours, many will be looking to Jeremy Hunt to revitalise the economy – and his talks of no tax cuts, increased corporation tax, and a potentially doomed plan to get more retired people back into the work force, aren’t filling many with confidence. In fact it’s gotten so bad that some among the CBI have said that the Conservative party have essentially lost the title of the “for business party” and that more and more people are turning to Labour. This isn’t in isolation either, as polls were terrible for the Conservatives before the new Northern Ireland deal, and still don’t look good for them after. It does have to be said that Rishi Sunak deserves some praise for managing to achieve a deal with Northern Ireland in so short a time when Boris Johnson floundered about making it sound impossible. It’s hard to say if that will save Sunak however, given the various other scandals rocking the party. We can’t sit and wait for a budget without making our own moves however, and it’s unlikely that a great amount will change after it – at least for business leaders. It’s business as usual on our end, and our region is facing its own challenges, a lot of it in recruitment and retainment of key staff. One aspect of that we’ve been hearing from recruitment experts – and something to keep in mind – is that the younger generation are not being enticed by the old-fashioned recruitment ads being put out by a lot of companies. Younger people are not fooled by “room to grow” and “a great team” and “achievable targets” and all the other buzzwords that businesses have used for so long. Instead, they are increasingly interested in the “story” of the company, in its sustainable aims and how it intends to reach Net Zero, and why they should want to work there beyond merely the salary. A lot of successful companies have realised this and started to re-write their recruitment campaigns because of this, but still more decry it as virtue signalling or “woke” and refuse to even consider it, assuming the recruitment market will somehow fix itself. Simply put, times are changing – and it’s time many businesses realised that. Good reading, as always Michael Fisher Editor 03.qxp_Layout 1 07/03/2023 09:11 Page 1@BLMEastMidlands BLMEastMidlands Latest news 6 A round-up of the latest news from our region. Nottingham Trent University Q&A 16 We speak to Nottingham Trent University this month to learn about how they’ve been assisting businesses for over 175 years, and how they’re helping to address the big challenges faced in our region at this time. Commercial property 18 The industrial & logistics property market looks set for an exciting 2023. Petrochemical spotlight 22 Global demand for petrochemicals has risen in the face of concerted efforts from European governments to reduce reliance on them. Tax 26 James Pinchbeck, partner at Streets Chartered Accountants, shares the benefits of arranging more frequent visits with your accountant. Freight, storage and movement 28 The UK’s railways are old and outdated, and yet ambitious new plans could see a revitalization for the rail industry – if they come to fruition. Finance31 It’s not been an easy time to be in business and we look at what may come in the future – up to and including the spring budget. Public relations 34 Greg Simpson, founder of Press for Attention PR, discusses the importance of choosing your media opportunities wisely. Materials and components 36 With not only the government’s Net-Zero 2050 plans, but pressure from commercial office holders and homes for more energy efficient buildings, the construction and property industries have been grappling with sustainable materials for years now. Legal services 40 The law is changing, and it’s best to keep abreast of the changes even if you’re prepared to leave the details to legal specialists. AutoLink 42 We take a look at the latest vehicles coming to our roads – whether it be for business, family, or leisure. MARCH 2023 EAST MIDLANDS LE £3.50 EADING BUSINESS MAG AZINE ochemicalspetr e forThe futur of employm The changin of all t Sustai ment law ng landscape hings inability at the heart w www.blmgroup.co.uk Cover photographs courtesy: BMW • stock.adobe.com/Sashkin • EdNurg • Ascannio • Yellow Boat Contents March 2023 Corporate hospitality 46 As businesses work harder to keep their staff, events could be a useful employee retention tool. Events50 A timely look at forthcoming business events around the East Midlands. And finally...52 Here’s Frazer’s collection of the weird and wonderful ‘news’ that came his way over the last few weeks. 04-05.qxp_Layout 1 07/03/2023 09:13 Page 128 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. 04-05.qxp_Layout 1 07/03/2023 09:13 Page 2 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk GENERAL NEWS East Midlands Railway returns to UK ownership The management team at Abellio UK has acquired the company from Nederlandse Spoorwegen, the Dutch state-owned rail operator. It marks a significant milestone in the UK transport sector and transfers the company, which includes East Midlands Railway, to domestic ownership after approximately 20 years. A multi-disciplinary team from RSM advised Managing Director Dominic Booth who has been at Abellio UK since 2007. He, along with the management team, will continue to run Abellio UK’s existing operations and franchises through a newly created company called Transport UK Group Ltd. Transport UK Group Ltd will serve millions of passengers a year, operating more than 60 London bus routes and four UK rail passenger services (East Midlands Railway and West Midlands Railway, Greater Anglia and a 50:50 joint venture with Serco on Merseyrail). Dominic Booth, Managing Director at Abellio UK (now Transport UK Group), said: “We are thrilled to return key public transport services back into UK ownership. While our name will change to Transport UK Group, our values remain the same. We will continue to play a key role in the country’s transport sector, ensuring the provision of our award-winning services to passengers around the UK and driving innovation to develop a low-emission UK transport network.” East Midlands’ Information and Communications sector forecast to be UK’s fastest growing sector in 2024-26 The East Midlands’ Information and Communications sector is forecast to be one of the UK’s fastest growing regional sectors between 2024-26, as the UK economy continues to recover from the COVID-19 pandemic, according to EY’s latest Regional Economic Forecast. When measured by Gross Value Added (GVA), the sector is set to grow by an average 4.4% each year between 2024-26 in the East Midlands – faster than any other sector in any other region. However, as a region the East Midlands is forecast to grow at the second lowest rate over the same period, with average annual GVA growth of 1.9%, compared to the UK average of 2.1%. The region’s GVA is expected to contract 1% this year, compared to a 0.6% contraction for the whole of the UK. Looking ahead, East Midlands employment growth is expected to be affected by job losses in the region’s manufacturing sector partly offsetting gains in the retail and health sectors. As a result, average annual employment growth in the East Midlands (1.2%) is forecast to be marginally behind the UK average (1.3%) over 2024-26. Post pandemic retail recovery sees lowest number of East Midlands store closures since 2017 PwC has launched the latest figures for stores opening and closing across Great Britain (GB). Created in association with the Local Data company, the twice-yearly research tracks over 200,000 outlets in over 3,500 locations to gain a picture of the changing landscape of high streets, retail parks, shopping centres and stand alone outlets. Throughout 2022, 493 shops opened across the East Midlands, compared to 702 closures, creating a net decline of 209 (-1.4%), the lowest since 2017. This highlights a great improvement since 2021, where the East Midlands saw 528 store openings and 1,146 closures, a net change of 618. The East Midlands performed third best out of the regions across GB, following the South East and Scotland in first and second. The West Midlands was the worst performing region overall, with a net closure rate of -2.3%, below the national average of -1.4%. © stock.adobe.com/ Monster Ztudio © stock.adobe.com/ DragonImages 06-15.qxp_Layout 1 07/03/2023 09:17 Page 1East Midlands tech incorporations see boom The number of new technology companies incorporated in the East Midlands increased 38% in 2022, according to analysis of Companies House data by audit, tax and consulting firm RSM UK. A total of 1,390 tech businesses were incorporated in the East Midlands last year, up from 1,009 the previous year. Sheetal Sanghvi, partner and head of innovation reliefs in the Central region at RSM UK, said: “It is great to see East Midlands at the top of the table with the biggest increase year-on-year. “The region has always benefitted from a thriving technology sector, particularly in fintech and medtech. This is largely due to the quality of the local incubator hubs, universities and the scale of global businesses from which experienced individuals go on to build their own businesses. “Like many regional cities, the cost of workspaces in the East Midlands is more competitive than the capital. For start-ups and small businesses tight on cash, this has been a huge factor when setting up their headquarters and is reflected in the numbers published. “New businesses also tend to attract younger demographics and the region has a generous pool of young talent to hand. In addition, with many workers moving away from the bigger cities during the pandemic and post-pandemic, triggered by the rise in remote working, regions with lower costs have become an appealing option for tech workers.” 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. East Midlands business confidence grows Business confidence in the East Midlands rose eight points during February to 18%, according to the latest Business Barometer from Lloyds Bank Commercial Banking. Companies in the region reported higher confidence in their own business prospects month-on- month, up two points at 26%. When taken alongside their optimism in the economy, up 11 points to 9%, this gives a headline confidence reading of 18%. East Midlands businesses identified their top target areas for growth in the next six months as evolving their offer (41%), diversifying into new markets (28%) and investing in sustainability (26%). The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide. A net balance of 14% of businesses in the region expect to increase staff levels over the next year, up 14 points on last month. © stock.adobe.com/ Christian Horz © stock.adobe.com/ REDPIXEL © stock.adobe.com/ TTstudio 06-15.qxp_Layout 1 07/03/2023 09:17 Page 2APPOINTMENTS WBR Group expands senior leadership team WBR Group (WBR), the independent provider of SSAS services and tax experts, has made two senior appointments to its leadership team. David Downie joins as Managing Director of SSAS & Actuarial and Peter Collier as director of Marketing and Distribution. David has over 30 years’ experience in the financial services sector, with most of those years spent working within the pension and SSAS industry. He is a fellow of the Institute and Faculty of Actuaries, chairman of the ACA Individual and Penson Savings Committee and was most recently chief actuary at Rowanmoor where he has worked for over 29 years. Peter Collier has over 25 years’ experience in the pensions industry. He has held a number of senior roles across marketing, business development and strategy functions within the pensions and wealth management industry. Previously, he was head of Marketing Strategy at Brown Shipley. Most recently Peter was business development director at Hurley Partners (latterly Mattioli Woods). East Midlands Business Link www.eastmidlandsbusinesslink.co.uk Smith Partnership Solicitors names three new partners in round of promotions Smith Partnership Solicitors, based in the East Midlands, has welcomed three new partners to the firm – two who have been promoted and one who has recently joined. Danielle Upton and Clare Cuomo have both risen through the ranks at Smith Partnership. Danielle, who works in the commercial property department, joined Smith Partnership in November 2014 after completing her Legal Practice Course at the prestigious Nottingham Law School. She advises clients on a full range of property transactions including freehold and leasehold acquisitions and disposals as well as secured lending, and has a particular expertise in complex commercial landlord and tenant matters. Clare works in the childcare team in Derby and represents parents, grandparents, family members and children, as well as the Children and Family Court Advisory and Support Service, in cases which are often highly sensitive and complex. Zoe Romain has over 14 years’ experience specialising in complex property transactions and joins the commercial property team in Derby after eight years at Actons Solicitors in Nottingham. Kevin McGrath, managing partner, said: “It is an absolute pleasure to be able to announce these thoroughly deserved promotions. In addition to promoting two partners and welcoming Zoe to our firm, three staff have also been successful in being promoted to associate level. Well done to all.” Place your Betts – Bygott Biggs makes director promotion Bygott Biggs, the legal recruitment firm that covers Nottingham, Birmingham, Leeds and Manchester, has promoted Richard Betts to director legal recruitment, Midlands. Richard was originally called to the Bar in 2010 (trained as a barrister) and worked in Criminal Defence before he joined Bygott Biggs in 2012. Over 11 years he has developed an unrivalled knowledge of the legal marketplace across the Midlands and has an enviable network of legal connections. Jane Biggs, founder and Managing Director of Bygott Biggs, said: “Richard’s promotion is in recognition of a solid track record of achievement and consistent performance. “Having listened to what lawyers want from their careers for over a decade Richard is completely in tune with his candidates and has built up relationships of trust with many law firm leaders, meaning he is well placed to get his candidates in front of the right decision makers. “He is a great ambassador for Bygott Biggs and a key member of our very close knit team, working alongside fellow directors David Mayfield, Catherine Boyle and myself.” Richard Betts David Downie 06-15.qxp_Layout 1 07/03/2023 09:17 Page 3Chesterfield manufacturer reveals new senior leadership team Composites Evolution, part of the Clockpress Holdings group of companies, has unveiled a new senior leadership team following its recent takeover. The Chesterfield-based specialist prepreg manufacturer has appointed Brendon Weager, Gemma Williams, Mike Harrison & Rochelle Helliwell to the team that will work alongside Clockpress’s Chris Barnes and Sam Kirk to drive the business forward. As part of the change the original founder and owner of Composites Evolution – Gordon Bishop – is stepping away from the company. Brendon Weager, technical director at Composites Evolution, said: “The recent investment by Clockpress Holdings and appointment of the new leadership team provides us with an excellent platform to support the next phase of our growth. The business has already made a great start to 2023 and the future is exciting, as we continue to deliver industry leading composite prepregs and customer service to our customers.” Sam Kirk, CEO of Clockpress Holdings, added: “Chris and I are delighted to welcome Brendon, Gemma, Mike & Rochelle to the new senior leadership team. They have all demonstrated exceptional leadership qualities which, combined with their passion and hunger for success, will play a pivotal role in moving the business forward together. “They have all contributed to the process of putting a clear and exciting vision and strategy together, and we look forward to supporting their growth aspirations over the coming months and years.” The new team’s primary focus is to accelerate the implementation of those strategic plans, with the ultimate goal of establishing Composites Evolution as the number one partner for specialist prepregs, through world-leading innovation, sustainability, customer service, and responsiveness. The Access Group appoints new board members The Access Group, a Loughborough-based provider of business management software, has appointed two new board members. Marko Perisic joins The Access Group board as chief product and engineering officer (CPEO) from Zellis, where he was most recently chief product and technology officer. He has decades of experience in the technology space, having had a long and distinguished career at Microsoft before that. Marko takes over from Steve Lane who has retired after a 40-year career in IT and six years at The Access Group. During this time he created a world-class product and engineering function that has grown from 200 people when he joined, to over 1,700 people. Fabrice Dreneau joins The Access Group as chief customer success officer (CCSO) from Qlik, where he was senior vice president and led a global customer success and renewal team. He is passionate and client-focused and has previously held senior positions at Autodesk and Dassault Systems and has substantial international experience including a five-year assignment in Japan. During his career, he has achieved a reputation for ensuring the effective adoption of outcome- based repeatable solutions to increase customer loyalty and revenue growth. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link APPOINTMENTS Chesterfield-based commercial law firm appoints new employment director CMP Legal, a niche commercial law firm that specialises in corporate, commercial, dispute resolution and employment, has expanded its team with the appointment of a new employment director, Lauren Pickard. Lauren is a specialist employment law solicitor and joins CMP Legal from national law firm Knights plc where she worked as a senior associate, previously based in Sheffield. She has a wealth of knowledge and employment law experience from managing performance, disciplinary and grievance matters to redundancy and restructuring advice, delivering training, drafting contracts and much more. Lauren Pickard, employment director at CMP Legal, says: “I am delighted to join CMP Legal at such an exciting time for the firm in terms of growth. CMP Legal has swiftly established itself as a niche practice offering high quality advice. The lawyers at CMP Legal have a wealth of experience and this, combined with their desire to do things in a dynamic and progressive way, works strongly to the benefit of clients.” Lauren takes a practical and pragmatic approach to ensure that clients can take a commercial approach to employment law problems and CMP Legal looks forward to clients benefitting from her support as the employment team is further strengthened with her appointment. Marko Perisic Lauren Pickard 06-15.qxp_Layout 1 07/03/2023 09:17 Page 4Next >