MARCH 2025 EAST MIDLANDS LEADING BUSINESS MAGAZINE www..co.uk WWW.EASTMIDLANDSBUSINESSLINK.CO.UK WWW.EASTMIDLANDSBUSINESSLINK.CO.UK £3.50 Inflation, policy and industry struggles shape the UK economy Busy business parksThe petrochemical industry is changing with technologyFREE TO ATTEND NETWORKING EXHIBITION FOR CONSTRUCTION, PROPERTY, FINANCE, INVESTMENT, PROFESSIONAL SERVICES & RELATED B2B SECTORS PROPERTY & BUSINESS INVESTMENT LINCOLNSHIRE EXPO For further information visit businessshowsgroup.co.uk 26th March 2025 The Bentley Hotel, South Hykeham LN6 9NH SPONSORSAs we approach the end of the financial year, many businesses will be looking toward the 2025-2026 year and wondering what it may bring. With global instability at an all-time high and concerns of foreign aggression on the horizon, there’s much reason to worry, but increased investment in domestic affairs from a government trying to make the UK self-sufficient in case the worst happens can be good for local businesses. It’ll be even better for them if these measures are taken but never needed. New government consultations on bills to protect the steel industry and invest in defence could mean an uptick in manufacturing in our region, along with increased job security. This comes at a good time with Donald Trump’s tariffs likely to increase the cost of living in the UK despite promises the UK will be spared from them. It’s obviously a worrying time to be in business but the important part of these measures to make the country sufficient is that they can be just as useful a deterrent as armed forces. A strong economy will provide a strong foundation for the UK to defend itself, and that alone is reason to welcome such measures. Good reading, as always. Michael Fisher Editor www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 3 EDITOR’S NOTES welcome…@BLMEastMidlands BLMEastMidlands Latest news 6 A round-up of the latest news from our region. Commercial property 16 With new lettings, work starting, and plans being lodged, the region’s business parks are flourishing. Petrochemical spotlight 20 As sustainability pressures and global competition rise, the petrochemical industry must adapt. With lower US energy costs pulling business from Europe, UK regions like the East Midlands face economic risks. Innovation and policy shifts will determine the industry’s future. Finance 24 The UK economy is navigating a complex mix of inflation, supply chain disruptions, and shifting tax policies. With rising insolvencies in key sectors and ongoing adjustments in monetary policy, businesses and consumers face an evolving financial landscape. Tax 28 Robert Anderson, audit partner at Streets Chartered Accountants, helps businesses plan for upcoming changes to UK audit thresholds. Freight, storage and movement30 International trade is in a bad spot right now, and ocean freight is suffering. However, it’s not all bad news for road and rail. Contents March 2025 20 24 30 Public relations 34 Greg Simpson, founder of Press For Attention PR, showcases how businesses can make the most of the upcoming clock change. Materials and components 36 Big news for the steel industry as the government moves to protect it, but other materials should also be protected according to those in the industry. Law/legal services 39 The Employment Rights Bill will change the way many businesses interact with their employees. We look into it here. AutoLink 42 There are always new motors on the horizon, ranging from entry level to business executive. Here are a few that might make it to our roads. Corporate hospitality 46 Running your own event is about more than just getting up on stage and speaking. You need to make sure everything is prepared in advance. Events48 A timely look at forthcoming business events around the East Midlands. And finally...50 Here’s Frazer’s collection of the weird and wonderful ‘news’ that came his way over the last few weeks.36 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 Cover photographs courtesy: • stock.adobe.com/artegorov3@gmail • Kostiantyn • Kannapat • NanSan • xartproduction 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.GENERAL NEWS Ukraine and Lincolnshire partner on agricultural collaboration Lincolnshire has signed a Memorandum of Understanding with Ukraine’s Kherson Oblast to explore agricultural cooperation. The agreement aims to support the war- affected region through knowledge-sharing and potential business partnerships. Oleksandr Prokudin, governor of Kherson Oblast, visited Lincoln to formalise the partnership with Councillor Colin Davie of Lincolnshire County Council. Prokudin stressed the agreement’s symbolic significance and highlighted the challenges facing Kherson, much of which remains under Russian occupation. During his visit, Prokudin toured the University of Lincoln’s Riseholme campus, home to the Lincoln Institute for Agri-Food Technology (LIAT), and the Siemens factory. Davie said Lincolnshire’s farming and food industries could contribute expertise in research, technology, and innovation to support Kherson’s agricultural sector, with potential future trade opportunities. The announcement coincides with UK Prime Minister Sir Keir Starmer’s visit to Washington for talks with US President Donald Trump on Ukraine and defence. Prokudin urged European leaders to remain vigilant. Midlands shows small signs of improvement in Women in Work Index The Midlands is showing small signs of improvement in PwC’s Women in Work Index, an annual report assessing progress towards workplace gender equality. The West Midlands climbed two places to 10th, while the East Midlands fell from 11th to 12th. The female full-time employment rate in the West Midlands rose by 4.5% to 61.3%, while the East Midlands saw a smaller 0.4% increase to 57.77%. Both regions continue to have a gender pay gap above the UK average of 14%. The East Midlands’ gap improved from 17.1% to 15.9%, while the West Midlands remained at 15%. The East Midlands performed worst overall, with its index score dropping by 6.3 points. Alex Hudson, PwC UK Market Senior Partner East Midlands, said urgent action is needed to boost female participation, reduce the pay gap, and ensure women are represented in industries affected by AI and emerging technologies. Alex Hudson, PwC UK Market Senior Partner East Midlands, said: “The latest Women in Work Index shows that there is much more to be done to support women in the Midlands with better access to equal opportunities at work. “It’s positive to see an overall increase in the female full-time employment rate, however action needs to be taken to increase the female participation rate, as we know this is essential for growth in our economy.” Midlands embarks on study to assess potential sites for nuclear new build and boost regional growth Equilibrion, a strategic and technical consultancy, has been appointed by the Midlands Net Zero Hub and Midlands Nuclear to assess nuclear energy potential in the Midlands. It will lead a siting study to identify locations for near-term development. On 6th February, the UK Government announced planning reforms to facilitate new nuclear projects, introducing the Nuclear National Policy Statement (EN-7). This eases site restrictions, attracting investment, creating skilled jobs, and delivering clean, secure energy. The Midlands Nuclear Siting Project, reporting in Spring/Summer 2025, will explore nuclear’s role in electricity, hydrogen, sustainable fuel, and heat production. With a focus on Small and Advanced Modular Reactors, it seeks to maximise EN-7’s opportunities. The project will engage stakeholders, evaluate supply chain prospects, and assess nuclear’s social, economic, and environmental benefits. By addressing skills and site readiness, the Midlands can boost energy security, attract investment, and contribute to Net Zero goals. Alex Hudson 6 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk © stock.adobe.com/Budimir JevticGENERAL 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. Spilsby Market relaunch aims to boost local economy Spilsby Market relaunched on Monday, 4 March, following efforts by East Lindsey District Council and Spilsby Town Council to revitalise the weekly event. The initiative aims to attract more traders and visitors, boost footfall in the town centre, support local businesses, and provide residents with fresh, locally sourced products. To encourage participation, the council has introduced a 50% reduction in market fees, making it more affordable for traders. Pitches now start at just £7.50, among the lowest in the region. The market will operate every Monday throughout the year, offering a wide range of goods, including fresh produce, handmade crafts, and household essentials. Councillor Adam Grist, portfolio holder for market towns and rural economy, welcomed the relaunch, emphasising its importance in preserving Spilsby’s historic market tradition. He encouraged traders and shoppers to take advantage of the revitalised market, which is expected to become a key hub for the local community. © stock.adobe.com/SSimonforstock UK defence spending boost to prioritise SMEs The UK government has announced new measures to boost small business participation in defence contracts, including SME spending targets for the Ministry of Defence and a support hub to help firms access supply chain opportunities. With defence spending set to rise to 2.5% of GDP by 2027, the initiative aims to direct more funds to small businesses, particularly outside London and the South East, where nearly 70% of defence expenditure already occurs. In 2023-24, only 4% of defence spending went to SMEs, prompting government action. The support hub will assist SMEs in securing contracts, financing, and workforce training, enabling more companies to contribute to national security while benefiting from investment. The government sees this as a way to strengthen the UK’s defence industry, drive innovation, and support economic growth in small towns and regions. In 2023-24, defence spending supported over 430,000 jobs across the UK, with significant increases in government investment in regions such as the East Midlands, Northern Ireland, Yorkshire, and the North West. The government expects these new measures to boost SME participation further and enhance Britain’s defence capabilities. © stock.adobe.com/TTstudio www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 7 © stock.adobe.com/M+Isolation+PhotoPall-Ex Group names new Chief Operating Officer Leicestershire logistics operator Pall-Ex Group has promoted Barry Byers to the newly created role of Chief Operating Officer (COO). Since joining in 2020 as Managing Director of the UK Business Units, Barry has led the group’s two UK pallet networks—Pall-Ex and Fortec—through a challenging period. With nearly 30 years in logistics, he will play a key role in shaping the company’s future strategy. His appointment aligns with senior promotions as Pall-Ex Group prepares for growth across the UK and Europe. CEO Kevin Buchanan will continue driving key projects, while Dave Dunhill remains Chief Technology Officer, and Paul Robins becomes Chief Financial Officer. Barry has spearheaded projects driving exceptional growth, including the nationwide storage and fulfilment network. He said: “I’m grateful for the board’s support and excited to lead the business.” Kevin Buchanan added: “Barry has made a real impact, and I have every confidence in his leadership.” APPOINTMENTS Allscreens Nationwide appoints new insurance director Allscreens Nationwide, the Leicester-headquartered windscreen repair and replacement company, has appointed Lisa Pugh as its new insurance director. Lisa brings extensive experience, having worked for 12 years in the automotive glazing industry. She has also held business development and account management roles in insurance, forensic, and automotive glazing. Lisa will play a key role in the company’s growth. She said: “I am delighted to join Allscreens Nationwide and contribute to its ongoing expansion. The team has vast industry expertise, and I’m excited to be part of this well-established business. “Allscreens is well placed to support customers through challenges posed by advancing technology and supply issues, and I look forward to meeting them as I settle in.” Daniel Sole, Director at Allscreens Nationwide, said: “It’s a pleasure to welcome Lisa. Her enthusiasm, teamwork, and experience will be a great asset as we continue strengthening our team.” Futures Housing Group introduces new executive team structure East Midlands-based housing association Futures Housing Group has introduced a new Executive Team structure to strengthen the central role of customers in its operations. The team consists of four roles, all filled by existing Directors following a thorough recruitment process. The new roles and postholders are: Group Director, People & Change – Nicky Hope, Group Director, Customer Experience – Helena Thompson, Group Director, Homes & Communities – Sarah Wyke, and Group Director, Finance & Growth – Ian Skipp. Explaining the change, Chief Executive Tim Mulvenna said: “Futures is a great organisation and punches well above its weight as one of the region’s main providers of affordable homes. We’re financially strong, have a great workforce and our customers are mostly very satisfied with what we provide. “We have the basics right and now it’s time to build on that by ensuring that every action we take and decision we make will deliver even more for customers. This new top team will help ensure that customers are front and centre at every step on our journey to being truly outstanding.” 8 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk Left to right: Sarah Wyke, Nicky Hope, Tim Mulvenna, Helena Thompson and Ian SkippWright Vigar names Associate Director for Mansfield office Wright Vigar has appointed Lee Henshaw as Associate Director to work in its Mansfield office. Lee has more than two decades of accountancy expertise, including significant experience serving businesses across Nottinghamshire. His appointment strengthens the firm’s capability to support local businesses, from sole traders to companies with multi-million- pound turnovers. Matthew Chadwick, Director at Wright Vigar, said: “His extensive experience and local knowledge will be invaluable as we continue to expand our services in the area. This appointment reflects our commitment to supporting businesses in and around Mansfield.” Lee spent 12 years at Elkingtons, building a large portfolio of clients, supporting them in various areas including business restructuring, valuations, and tax planning. His comprehensive understanding of both personal and corporate accounting needs aligns perfectly with Wright Vigar’s client-focused approach. He said: “I’ve had a warm welcome from the team in Mansfield, and the new office is excellent. I’m looking forward to getting to know more local professionals and businesses in the area, and talking to them about the difference Wright Vigar can make through our proactive advice, personal service and technical expertise.” Honorary Fellowship for University of Nottingham spin out champion Business executive David Whelan has been made an Honorary Fellow of the University of Nottingham for his outstanding contribution to the institution. David, who has led, developed and grown many businesses during a career that spans four decades, has been honoured for the expert guidance and support he has provided to the university and its spin-out companies, during the past 15 years. The company chairman has in the past been a sounding board to Nottingham Technology Ventures, which facilitates the formation and management of, and investment in, university spin outs. The entrepreneur is the non-executive chairman of cutting-edge Nottingham venture, Medical Photonics, which is developing new medical devices based on its optical fibre sensing technology. He has also guided The Thinking Pod innovations, which is creating power electronics for electric vehicles, aerospace and industry, through the early stages of their fundraising and commercialisation. “I am extremely honoured to be made an Honorary Fellow of the University of Nottingham for my contribution over a number of years,” said David. “As someone who spent many years at third level education when I was young, it appears that in the autumn of my career I have returned to my university roots.” “I would like to thank all those who supported my appointment especially all at Medical Photonics and Nottingham Technology Ventures,” added David. “And I look forward to being able to help and assist many other Nottingham University spin outs in the not-to-distant future. I will continue to be an ambassador for The University of Nottingham in promoting all its educational and commercial programmes.” APPOINTMENTS Pinelog welcomes new production manager Chesterfield-based Pinelog, a manufacturer of luxury timber lodges, has appointed Darrell Fisher as production manager. Darrell brings 34 years of experience in holiday homes, lodges, and motorhomes, having previously worked with Swift Group Ltd, one of the UK’s largest leisure vehicle manufacturers. Beginning his career as an apprentice cabinet maker, Darrell has gained experience across the industry, from hands-on craftsmanship to strategic leadership, culminating in his role as senior production manager at Swift. “The stars aligned at just the right time,” Darrell explained. “I’d been thinking about a change for a while, and when I saw the role and spoke with Craig Morrison, Pinelog’s Operations Director, I knew it was the perfect fit. The scope of the role and the company’s vision for growth made it an easy decision.” Darrell’s scope of work includes overseeing the transition from design to production, driving continuous improvement across manufacturing processes at the company’s Chesterfield site, managing delivery and installation, and ensuring exceptional customer satisfaction. Darrell will assist with Pinelog’s journey to modernise and fine-tune its production processes. “I’m looking to introduce more contemporary techniques, strengthening the production team, and ensuring that Pinelog continues to exceed customer expectations as it grows,” explained Darrell. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 9 Next >