< Previous East Midlands Business Link www.eastmidlandsbusinesslink.co.uk FINANCE NEWS East Midlands farmers urged to check insurance during lambing season An agricultural expert has warned farmers they risk heavy financial losses if temporary employees taken on during the busy lambing season are inadequately insured. Rupert Wailes-Fairbairn, of rural insurance broker Lycetts, also emphasised the need to insure new additions to flocks, with livestock rustling incidents having risen during the ‘cost-of-living’ crisis. “Having the correct insurance in place is vital to safeguarding livelihoods,” he said. “This is one of the busiest periods of the farming year and extra staff are often employed to help manage the increased workload. “The demands of lambing may dominate farmers’ minds, and time, but they can ill- afford to forget the importance of Employers’ Liability insurance. Farming, after all, can be one of the most dangerous of occupations.” The Health and Safety Executive found that 25 people were killed in the agriculture sector in 2021/22. The highest cause of fatalities involved people being struck by farm vehicles such as quad bikes – often used during lambing season. “Apart from the trauma for all concerned, claims for accidents – even non-fatal incidents – can cost thousands of pounds,” said Wailes-Fairbairn. Mortgage advice company reports £40m surge in revenue Pride Park-based Mortgage Advice Bureau has said it is ‘well-positioned’ after reporting a £40m surge in revenue to £230.8 million for the year to 31 December. During the year, the firm increased its number of advisers by 20% to 2,254 – with the number of mortgage completions during the period also rising by 20% to £27.3 billion. Chief Exec Peter Brodnicki said: “Despite a challenging year for mortgage intermediaries on numerous fronts, I am pleased with our 2022 performance and market share growth, with revenue up 22% and adjusted EBITDA up 15% on the prior year. “Prior to the mini-budget in September, the group was on track for 2023 to be a record year of growth, despite an expected softening in housing transactions due to inflationary pressures. “Although mortgage transaction levels have improved since the collapse post mini-budget, they remain circa 35% down year-to-date compared to the same period in 2022. “MAB is performing considerably better than wider transaction numbers reflect and our market share is continuing to grow strongly. Current trading is in line with our expectations, and we expect a second-half weighted financial performance.” East Midlands firms at increased risk of HMRC investigation, says tax expert Tax services and insurance provider Markel predicts that HMRC tax investigations will significantly increase in the East Midlands this year. With NatWest saying the East Midlands faced one of the fastest economic declines in the country at the end of 2022, including falling output and the first decrease in employment since January 2021, HMRC’s actions will add significant pressure on businesses already facing uncertain futures. HMRC tax investigations can be incredibly intrusive for businesses. Markel estimates that a typical enquiry lasts for between 18-24 months, with client firms paying in the region of £5,000 in excess accounting fees. At a time when inflation and the cost-of-living crisis is creating a highly challenging recessionary environment, this additional pressure could prove disastrous for employers across the region. In last year’s budget statement, the Chancellor announced an additional £1 billion for HMRC over the next four years to tackle tax evasion and fraud, including investment in technology and additional staff to investigate cases. James Cordiner, Tax Investigations Manager at Markel, said: “With recent scrutiny by the National Audit Office on HMRC’s pandemic performance, HMRC are seeking to improve compliance performance levels, which is leading to an increase in investigations. Estimates suggest an additional 2,500 HMRC compliance staff by 2022-23, but with these likely to take around four years to be fully up to speed, the length of enquires and associated costs are likely to rise further.” 06-15.qxp_Layout 1 03/04/2023 14:01 Page 5FINANCE NEWS www.eastmidlandsbusinesslink.co.uk East Midlands Business Link East Midlands business confidence up again Lloyds Bank’s Business Barometer for March 2023 shows: East Midlands business confidence has risen for a second consecutive month from 18% to 23% Region’s businesses identify top growth opportunities as evolving their offer (46%), investing in their team (30%) and investing in sustainability (30%) Overall UK business confidence in March reached its highest level since May last year, with eight out of 11 regions and nations reporting higher levels of confidence than February Business confidence in the East Midlands rose five points during March to 23%, according to the latest Business Barometer from Lloyds Bank Commercial Banking – conducted between the 1st – 15th March ahead of the Chancellor’s Spring Budget on Wednesday 15th March. Companies in the region reported higher confidence in their own business prospects month-on-month, up 10 points at 36%. When taken alongside their optimism in the economy, which remained the same at 9%, this gives a headline confidence reading of 23%. East Midlands businesses identified their top target areas for growth in the next six months as evolving their offer (46%), investing in their team (30%) and investing in sustainability (30%). SMB College Group Awarded 2.7 Million in Funding for Decarbonisation SMB College Group are delighted to announce that they have successfully secured £2.7million as a part of the Government’s Public Sector Decarbonisation Scheme. The funding has specifically been awarded for the College to make positive environmental changes at their Brooksby Campus, their specialist 850-acre land-based and Sport site. With a focus on the Brooksby Hall area of the estate, the college will be replacing the current oil-fired district heating system, in addition to the introduction of solar power and upgrades to windows. Dawn Whitemore, Principal & CEO of SMB College Group said of the award: ‘SMB College Group are delighted to have been awarded £2.7m towards the decarbonisation of our Brooksby Hall site, located in the heart of our specialist land-based Brooksby Campus. The project will replace the current oil-fired district heating system with greener air source to water source heat pumps, and will include the replacement distribution pipework, the addition of solar power to feed the new system, and upgrades to building fabric to improve efficiency. ‘This investment is highly important to the College Group as we continue to work towards becoming more sustainable as an organisation. Our 850-acre estate at Brooksby is already benefiting from some excellent sustainability initiatives, spearheaded by our fantastic lecturers and land-based students – including a regenerative agriculture project and a river restoration project – and this funding from the Public Sector Decarbonisation Scheme is an extremely welcome addition to this. Long term investment strategies such as these by our Government will safeguard the future of our college, ensuring that we can continue developing the skilled workforce our country needs.’ © stock.adobe.com/ ink drop 06-15.qxp_Layout 1 03/04/2023 14:01 Page 6Virtual reality showroom becomes a reality for train-builder Alstom Derby-based train-builder Alstom has created what’s believed to be the rail industry’s first virtual reality showroom. The facility features an entirely virtualised city in which trains, metros, locomotives, trams, and monorails run in 3D watched by customers, partners and staff immersed in a virtual environment exploring the company’s products, including interactive simulations and whole fleet management systems. Created in partnership with visual technology specialist SoWhen?, the universe spans almost four sq km of virtual space and offers 12 different types of virtual trains. Alexis Bonnet-Salkind, digital design manager with Alstom’s advanced and creative design team at its Litchurch Lane site, said: “We want to transform the image of a railway company from something old-school and traditional to modern and high-tech, which is what we are, and an interactive digital platform is a perfect tool for demonstrating that.” Alstom provided the first glimpses of this virtual reality universe at last year’s InnoTrans, which is the world’s largest rail industry trade fair. It brought Alstom’s rolling stock, signalling, components, and green solutions to life, allowing attendees to experience a wide range of the firm’s product offering. The company said that the virtual showroom proved to be an “invaluable tool” to showcase the innovation and advanced technology behind Alstom’s products and “further solidify the image of a modern, high-tech railway company, breaking away from traditional perceptions”. Alexis said: “This unique digital ecosystem can help do a number of things for our customers. We want to turn the invisible visible: some of our signalling technologies, for example, can be hard to wrap your brain around, especially if your background is not technical. “This technology can also be a game-changer during design concept and mockup review.” East Midlands Business Link www.eastmidlandsbusinesslink.co.uk MANUFACTURING NEWS East Midlands manufacturers see mixed start to the year East Midlands manufacturers have seen a mixed picture in the first quarter of the year, although the trends are far more improved since the second half of last year, easing fears of a significant recession for industry in 2023. The findings in the Make UK/BDO Q1 Manufacturing Outlook survey show a marked pick up on the picture in the final quarter of 2022, albeit from a very negative picture in the second half of last year. The figures echo the gradual improvements in other data such as the UK and European PMIs, which are now only just in negative territory, as well as a strong pick up in demand from China. According to Make UK and BDO, this mixed picture reflects the ongoing difficulties being experienced by the automotive sector and the ripple effects being felt down the supply chain amid the transition to electric vehicles. However, this is balanced against the strong performance of food and drink where the East Midlands has a strong exposure. Both output and orders picked up in the region although the balance on output was only just positive at +6%, an improvement mainly driven by export orders as UK orders remained very weak. However, despite this improving picture, employers’ intentions to invest remained at weak levels although conversely recruitment intentions were very strong showing employers are anticipating a pick-up in demand. Looking forward, the next quarter remains mixed although export orders are forecast to pick up significantly and investment intentions are also set to turn positive. Forterra makes material contribution to net-zero future Following a successful trial at Forterra’s Kings Dyke site, the programme has been rolled out to all 17 of Forterra’s manufacturing facilities, with non site-based staff able to utilise the recycling facilities at the site most convenient to them. Avena’s 0% landfill policy provides a sustainable end of life process for all textiles and PPE, and as the only company in the UK that offers shredding as an alternative to incineration and landfill they are the perfect choice for Forterra to align with. The old uniforms and PPE will be recycled in the most effective way, this includes the material being reused, turned into insulation or made into chips for energy generation. David Manley, Forterra’s Head of Sustainability said, “As a business we’re looking into every aspect of our operations to work more sustainably, from our manufacturing processes to our energy sources. We have set ambitious ESG targets to reduce our carbon emissions by a further 32% by 2030, and I’m very proud that we’re on our way to achieving them. 06-15.qxp_Layout 1 03/04/2023 14:01 Page 7Notts manufacturer creates 25 jobs following £150,000 investment A Nottingham-based performance doorset manufacturer is set to increase its efficiency and production capabilities, while creating 25 jobs in the local area, thanks to a finance package from Lloyds Bank. Integrated Doorset Solutions, part of the IDSL Group, manufactures performance timber doorsets for customers in the education, healthcare, commercial, residential and accommodation sectors, working with clients such as Unite Students, Balfour Beatty and MACE. The business is active in the domestic market, as well as serving customers in Ireland and oversees. To support its growth ambitions and increased demand for its products, the business approached Lloyds Bank securing a £150,000 hire purchase funding package that is being used to purchase new automatic sanding machines. The new sanders will further enhance the quality of products produced by Integrated Doorset Solutions, creating a more superior finish. It will also provide operational efficiencies, saving two people per shift, who can be deployed elsewhere to increase production capabilities. The automated machine also improves safety for colleagues, including entirely removing the risk of injury caused by long term exposure to vibration produced by traditional machinery. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link MANUFACTURING NEWS Agility Life Sciences forge Strategic Partnership with Solitek Agility Life Sciences, an award-winning formulation development CDMO based in Nottingham, UK, and Solitek, experts in solid state development services for the pharmaceutical, agrochemical and fine chemical industries based in Barcelona, Spain, have entered into a Strategic Partnership agreement in order to accelerate the pharmaceutical development milestones of their clients. The agreement will see Agility Life Sciences signpost and recommend Solitek’s solid state services to clients, with Solitek reciprocally promoting Agility’s formulation development services. The two organisations have also agreed to provide training on their products and services, as well as offering technical support and client liaison. Agility Life Sciences CEO, Prof. Claire Thompson, commented: “I am thrilled to sign our first Strategic Partnership agreement with Solitek, who have a combined experience of nearly 50 years in the pharmaceutical industry, including over 40 years in the world of solid state research and crystallisation development. Partnerships are vital in this industry, and I am confident that both companies will strengthen each other’s client base in a mutually beneficial arrangement. I am excited to begin this new chapter of collaboration.” Solitek co-founder and Operations Director, Víctor Díaz, added: “This partnership is a critical steppingstone in our ambition to offer a full preclinical development services portfolio. Having worked with Claire before, I am convinced that Agility Life Sciences are the right partners to learn and to grow with. Solitek and Agility Life Sciences form a very strong partnership with a level of specialisation and expertise difficult to match.” © stock.adobe.com/Destinos Espetacular 06-15.qxp_Layout 1 03/04/2023 14:01 Page 8PROPERTY NEWS Green light for Lincolnshire college’s new learning centre A new bespoke learning centre for young people and adults studying at Boston College has been given the go-ahead – following support by planning experts at Marrons. The two-storey Mayflower building – which is one of the Boston Town Deal projects – will provide high-quality further education training facilities alongside public access spaces, including a cafe, restaurant, and hair and beauty salon, which will be managed by the college and staffed by students to provide real work experience opportunities. It will also include exhibition and events spaces, a digital hub, business incubation units for local start-up companies, conference facilities and meetings rooms, and 74 car and 60 bicycle parking spaces. Claire Foster, Boston College principal and CEO said: “We are thrilled that planning permission for the iconic Mayflower, the flagship project of Boston’s Town Deal fund, has been granted. The state-of-the-art facility will provide a shining beacon of aspiration for higher level and adult education at a time when our town needs it most.” Green light for iconic £6m development at Derbyshire marina despite ‘Government obstacles’ Plans for a new £6m mixed-use building at the site of the UK’s largest inland marina have been approved despite complaints that Government policy discourages entrepreneurial investment. South Derbyshire District Council this week approved Mercia Marina’s proposed Promenade building, an iconic glass, stone and timber structure housing 14 apartments above seven ground floor retail units. The planning application, lodged more than 12 months ago, succeeded due to what the marina’s owner John Thornton describes as ‘foresight’ of the local authority, which recognised the scheme’s £11.9m estimated benefit to the local economy over 10 years and the creation of 43 new jobs. Yet John, former CEO of Derbyshire-based chocolate manufacturer Thorntons, also criticised recent Government policy and attitudes which, he claims, offer few incentives to regional private investment schemes such the Promenade development. East Midlands Business Link www.eastmidlandsbusinesslink.co.uk The East Midlands Bricks Awards are back for 2023! Shining a light on the region’s property and construction industry, this year’s event will take place on Thursday 28th September at the Trent Bridge Cricket Ground in Nottingham. The East Midlands Bricks Awards, organised by East Midlands Business Link Magazine, is an independent awards and publicity programme recognising development projects and people in commercial and public building across the region – from office, industrial and residential schemes, through to community projects such as leisure schemes and schools. With the economy now recovering after lockdown, and following a successful event held last year, we believe it is now more important than ever to celebrate the robustness of the property industry in our region. To nominate your (or another) business/development for one of our awards, visit https://www.eastmidlandsbusinesslink.co.uk/mag/bricks-2023/ 06-15.qxp_Layout 1 03/04/2023 14:02 Page 9PROPERTY NEWS Elevate Property Group appoints Bode Contracting to build £50m Silk Yard scheme in Derby The developer of a £50m property scheme in the centre of Derby has appointed an East Midlands construction specialist to deliver the project over two years. Elevate Property Group, which is responsible for the Trent Bridge Quays development in Nottingham, has selected Bode Contracting to build the 258 apartments that will offer high quality, affordable city centre living for young professionals, couples, and downsizers. Phase 1 of The Silk Yard will provide 94 apartments on the corner of John Street and Castleward Boulevard, with the second release set to include 164 properties in a five and seven-storey building on the adjacent site. Buyers and investors will be able to choose from one, two and three-bedroom apartments, as well as studio-style apartments across the 1.55-acre site that was once an historic manufacturing sawmill. Digital transformation company moves global headquarters to Chesterfield’s Northern Gateway Enterprise Centre Chesterfield’s Northern Gateway Enterprise Centre has welcomed another new tenant, with Konektio relocating to the town from nearby Clay Cross. The company, which specialises in digital transformation solutions for the industrial and manufacturing industries has chosen the centre due to it’s ideal location and connectivity. Commenting on the move, Peter Stephens, CEO at Konektio, said: “We are delighted to announce the relocation of Konektio’s global headquarters to the Northern Gateway Enterprise Centre. “As a leading provider of Industrial IoT and Energy Monitoring applications, we are enabling the digital transformation for the industrial and manufacturing sectors. Konektio creates significant value for our clients across the UK, Europe, and the US with turn-key solutions for asset condition-based monitoring and energy usage solutions. We help our customers tangibly reduce their operating and energy costs, improving their profitability whilst reducing their impact on the environment. Works progress on second phase of Horizon 29 in Derbyshire Pivotal construction works led by McLaren Construction (Midlands and North) are progressing well for Phase 1B of the prominent industrial and distribution hub, Horizon 29, in Bolsover, Derbyshire. Located one mile from Junction 29A of the M1, Horizon 29 is a new landmark distribution development, which once complete will span 1,150,256 sq. ft and have a total of eight warehouses, delivered over three phases. McLaren Construction (Midlands & North) commenced construction on Phase 1B in November and will be delivering design and construction work on two new speculative builds (Units 4 and 5), with extensive ground remediation works to stabilise the former coal site, which will complete this summer. Works delivered to date for Unit 4 of Phase 1B include earthworks and VSC piling, concrete foundations and steel framing alongside lift shaft and stair installations. The installation of nets for roofing works and office elevation cladding are due to complete this month. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 06-15.qxp_Layout 1 03/04/2023 14:02 Page 10 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY Property in April The East Midlands property market is booming, and there’s a lot of movement in Derbyshire and Leicestershire in particular. 16-19.qxp_Layout 1 03/04/2023 14:03 Page 1www.eastmidlandsbusinesslink.co.uk East Midlands Business Link COMMERCIAL PROPERTY © stock.adobe.com/JULIAN T he commercial property market remains busy even as other sectors protest the latest budget. There’s not much in the budget to satisfy or please developers either, but then recent governmental involvement in commercial developers hasn’t been anything good for the past few years – and Michael Gove’s latest war on landlords and his developer remediation contract – won’t appeal the government to any developers. This has left many of the mind that they should just get on with work and ignore whatever disasters the government cooks up next, and that attitude has led to a flurry of activity across the region. Derbyshire comes out as the most news-grabbing region for commercial property this month, with numerous high profile and high cost developments in the works. Elevate Property Group, the developer of a £50m property scheme in the centre of Derby, has selected Bode Contracting to build the 258 apartments that will offer high quality, affordable city centre living for young professionals, couples, and downsizers. Phase 1 of The Silk Yard will provide 94 apartments on the corner of John Street and Castleward Boulevard, with the second release set to include 164 properties in a five and seven-storey 18 Á 16-19.qxp_Layout 1 03/04/2023 14:04 Page 2 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY building on the adjacent site. Meanwhile, work is progressing well for Phase 1B of the prominent industrial and distribution hub, Horizon 29, in Bolsover, Derbyshire. Works delivered to date for Unit 4 of Phase 1B include earthworks and VSC piling, concrete foundations and steel framing alongside lift shaft and stair installations. The installation of nets for roofing works and office elevation cladding are due to complete this month. Plans for a new £6m mixed-use building at the site of the UK’s largest inland marina have been approved despite complaints that Government policy discourages entrepreneurial investment. South Derbyshire District Council this week approved Mercia Marina’s proposed Promenade building, Horizon 29 Derbyshire’s Mercia Marina 16-19.qxp_Layout 1 03/04/2023 14:04 Page 3www.eastmidlandsbusinesslink.co.uk East Midlands Business Link COMMERCIAL PROPERTY an iconic glass, stone and timber structure housing 14 apartments above seven ground floor retail units. The planning application, lodged more than 12 months ago, succeeded due to what the marina’s owner John Thornton describes as ‘foresight’ of the local authority, which recognised the scheme’s £11.9m estimated benefit to the local economy over 10 years and the creation of 43 new jobs. This interest in Derby has been reflected within Connect Derby, the city’s primary managed workspace provider, who have enjoyed the best start to a year for five years, with 6% of space currently under offer. In the current financial year, the workspace provider has let more than 7,600 sq ft of space. In Leicestershire, construction has begun on a new £1.5 million locomotive maintenance facility at rail vehicle engineering and maintenance provider, UK Rail Leasing Ltd.’s (UKRL). This new facility has been designed to maintain new classes of locomotives and provide UKRL significant extra capacity in Leicester to expand its maintenance business. It is also expected the expansion, once operational in early 2024, will create 15 new, highly skilled jobs. Construction of the new shed, which will be completed in 2023, is being supported by a development loan from HSBC UK. Leicestershire County Cricket Club have also entered into consultation with developers, stakeholders and the community after announcing intentions for a £60m redevelopment of Uptonsteel County Ground. The club has been working extensively with architects, research consultants and financial bodies to produce design specifications that have the scope to transform the existing stadium and create new facilities for the surrounding community. Chief Executive Sean Jarvis has revealed that among the options being explored are the development of residential homes, healthcare and retail options. The launch of an Academy of Cricket campus, that could host a wide range of academic activities including the world’s first MBA in cricket management, also forms part of the long-term vision for the project. © stock.adobe.com/dudlajzov 16-19.qxp_Layout 1 03/04/2023 14:04 Page 4Next >