MAY 2023 EAST MIDLANDS LEADING BUSINESS MAGAZINE www..co.uk WWW.EASTMIDLANDSBUSINESSLINK.CO.UK WWW.EASTMIDLANDSBUSINESSLINK.CO.UK £3.50 Raising capital, managing risk A compassionate approach to business growth The rise of online training 01.qxp_Layout 1 03/05/2023 09:14 Page 1HERE RE h WE’R ERE WE’R E E TO hl E hl RE ETO RE hl HE hhhelphelphelp www 01 .costorcili-sonskiop.hw 15 906 896 k.u 64 Comm Property ciamer r l y LAND DEVLANDD Y R T SHOR T E R BUYING V ELOP MENT SELLING ASES T OR LON MLEAS RR T OR LONG RM LEASES OR SELLING law firm in N op rated com Y RECLYHIGHL T er operty r COMMENDED mmercial pr ottinghamshir MENT enquirries.commericcal@hopkins-ssolicitors.co.uuk 02.qxp_Layout 1 03/05/2023 09:14 Page 1www.eastmidlandsbusinesslink.co.ukEast Midlands Business Link 3 EDITORS NOTES May heralds a lot of changes not only for our region but the country as a whole. King Charles III will be coronated on an additional bank holiday to take place on the 8th, and many will be curious to see what changes (if any) his ascension to the crown will bring. The former prince was always a staunch conservationist and supporter of UK interests, more so than many other current royals who appear to be more interested in their own affairs. It’s hard to argue that he wasn’t a hard worker before the coronation, so it’s hard to imagine he will slack afterwards. Businesses in our region may have more pressing concerns with the state of the economy however, which isn’t improving drastically despite assurances that inflation has now peaked and will go down. Employment issues remain, and the increase to the National Living Wage will push many to ask themselves uncomfortable questions about their ability to stay in business. Though, in a sense, it may be good that those questions are being forced on businesses that might be going through difficulties – as horrible as that sounds – because the theme is likely to continue as the cost of living gets worse and worse, and businesses that cannot afford to pay their staff enough to live a proper life may find their staff migrating to those who can. Good reading, as always Michael Fisher Editor 03.qxp_Layout 1 03/05/2023 09:15 Page 1@BLMEastMidlands BLMEastMidlands Latest news 6 A round-up of the latest news from our region. Commercial property 16 With myriad deals and new schemes hitting headlines, the East Midlands remains a hotspot for industrial and logistics property, developers and investors. Corporate finance 20 Understanding the tools and strategies of corporate finance is crucial for any business owner seeking to raise capital and manage financial risk. From equity financing to risk management techniques like hedging and diversification, we explore the various options available and offer guidance on how to make informed decisions that align with your business goals. Tax 24 Clare Slattery, tax director at Streets Chartered Accountants, considers the most tax efficient salary for directors. Online training 26 The pandemic changed the way we fundamentally run a business and one aspect of that which may have changed forever is the rise of online training. Relocation and inward investment29 Inward investment can be an effective way for companies to expand their operations, attract top talent, and gain access to new markets while also contributing to the development of the local economy. With a responsible and compassionate approach, inward investment can be a powerful engine for innovation and growth. Public relations 32 Greg Simpson, founder of Press for Attention PR, shares the importance of following up on leads. Energy and environmental management 34 Corporate waste is a significant problem that affects not only the environment but also the economy. The UK government continues to ramp up the pressure for businesses to reduce waste, setting higher penalties for inappropriate corporate waste disposal last year. Security 38 Desperate times make for desperate people, and many businesses are feeling the brunt of crime as rates of criminal damage on businesses rise. AutoLink 42 We take a look at some of the new motors that might be hitting our roads this year. MAY 2023 EAST MIDLANDS LE £3.50 EADING BUSINESS MAG AZINE managing risk Raising capital, WW owthbusiness gr A compassionate train The oach to appr ning rise of online w www.blmgroup.co.uk Cover photographs courtesy: • stock.adobe.com/VAKSMANV• ivanko80 • deagreez • Yurii Kibalnik • aryfahmed Contents May 2023 Corporate hospitality 46 Any corporate event requires solid planning to triumph. Out of office50 Good news from across the region. Events52 A timely look at forthcoming business events around the East Midlands. And finally...54 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 03/05/2023 09:15 Page 134 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 03/05/2023 09:15 Page 2 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk GENERAL NEWS Landmark deal creates UK metals powerhouse Derbyshire-based KJB Global Consulting has acquired one of the UK’s largest independent metals recycling operators, Peterborough Metals Recycling (PMR). PMR, which has traded successfully as BW Riddle for more than 67 years, has been acquired as part of a transaction backed by industry veteran Tom Bird and Harwood Private Capital. The combination of a leading metals broker with an established metals recycling operator creates a vertically integrated, ESG-focused, metal recycling business of scale resulting in an ideal platform for future acquisitions. The two businesses, which will continue to trade as separate entities, will have a total of 70 employees, a combined turnover of £79m and an EBITDA of £11.9m. The deal involves the retention of all existing PMR staff, with plans to create additional jobs as part of its growth plans. East Midlands business confidence rises to second highest in UK Business confidence in the East Midlands rose 18 points during April to 41%, 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 ten points at 46%. When taken alongside their optimism in the economy, up 27 points to 36%, this gives a headline confidence reading of 41%. East Midlands businesses identified their top target areas for growth in the next six months as evolving their offer (42%), diversifying into new markets (42%) and introducing new technology (39%). The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide. A net balance of 28% of businesses in the region expect to increase staff levels over the next year, down five points on last month. Mixed start to 2023 for East Midlands businesses as start-ups increase and cashflow improves, but insolvency activity rises Latest research from the Midlands branch of national insolvency and restructuring trade body R3 paints a mixed start to 2023 for East Midlands businesses, with a significant increase in start-ups but a doubling of insolvency-related activity. R3’s figures, which are based on an analysis of data from business intelligence provider Creditsafe, highlight a 13.9% rise in the number of companies set up in the East Midlands since the beginning of the year, rising from 2,460 in January to 2,803 in March. R3’s analysis also shows a sizeable decrease in the number of bad debts on the books of East Midlands businesses, falling by 21.3% in March to 111 from 141 in January. R3 stresses, however, that seeing these statistics as signs of longer-term business recovery should be viewed with caution, not least because there has been a sizeable increase in insolvency-related activities in the region since the beginning of the year. The number, which includes liquidator and administrator appointments as well as creditors’ meetings, more than doubled (108.3%) between January and March of this year, indicating the extent of the economic challenges still facing East Midlands companies. © stock.adobe.com/ Who is Danny © stock.adobe.com/ chinnarach 06-15.qxp_Layout 1 03/05/2023 09:20 Page 1New link road opens up new ‘community’ and thousands of jobs A link road which will provide access to a brand-new community on the edge of Ashbourne will be officially opened this month (May) – creating new jobs and homes, improving connectivity and reducing congestion. The 720m road, called Harrison Way, will link the new roundabout on the A52 to Blenheim Road, which runs through the Ashbourne Airfield Industrial Estate, unlocking access to in excess of 40-hectares of brownfield development land. The land will be developed to create Dales Park comprising a new business park, new commercial units, a pub, hotel, community facilities and more than 360 homes, providing a space where people can work, live, entertain and enjoy themselves. The creation of Dales Park is expected to generate thousands of jobs and represents major investment in the area, which is already the largest employment location in the Derbyshire Dales. More than 70 companies currently operate on the industrial estate employing around 2,000 people. 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. NAHL sells subsidiary NAHL, a Kettering-based marketing and services business focused on the UK consumer legal market, has sold its wholly owned subsidiary, Homeward Legal Limited. Homeward Legal utilises online marketing to target homebuyers and sellers in England and Wales to generate leads and instructions which it then passes to panel law firms and surveyors in the conveyancing sector for a fixed cost. The subsidiary, which has 6 employees and has been a part of NAHL since 2015, is considered non-core to the group’s principal focus in Consumer Legal Services and Critical Care and its sale will allow the group to further focus on its key growth areas. During the year ended 31 December 2022, Homeward Legal generated £1.2m in revenue and £13,000 operating profit. The purchaser of Homeward Legal is Richard Rickwood, a former Managing Director of the group’s Residential Property business. © stock.adobe.com/ Alexey Zarodov © stock.adobe.com/ sebra 06-15.qxp_Layout 1 03/05/2023 09:20 Page 2APPOINTMENTS Director promotion and new appointment at Blueprint Interiors Workplace consultants and office interior fit-out specialist Blueprint Interiors has announced a director promotion and the appointment of a new business development manager. Andy Sawyer, who was previously contracts manager, has been promoted to project director and Ben Dawson joins as a business development manager. With over 25 years’ experience within the fit-out sector, Andy joined Blueprint Interiors in 2016 and will join the management board. He has previously worked with some of the leading global leisure and retail brands on demanding and high profile commercial fit-out projects. Ben, who lives in Leicestershire, has over 20 years’ experience in the industry and studied architecture at De Montfort University. He began his career as an interior designer but gravitated towards business development in order to build on his passion for developing relationships and delivering tailored solutions. East Midlands Business Link www.eastmidlandsbusinesslink.co.uk Law firm makes raft of promotions Rotheras LLP has made six promotions at its Nottingham office. Natalie Abbott (employment) joined Rotheras in 2020 before being promoted to senior associate in 2021. Having been tasked with setting up the employment law department, and having driven this forward successfully, she has now been promoted to partner. Lucy Pettitt (conveyancing), James Briggs (private client), Sarah Soo (private client) and Grant Benskin (dispute resolution) have all been promoted to senior associate, and Rebecca Lister who began as a trainee at the firm and qualified into the child care department, has been promoted to associate. The promotions will take effect from 1 June and bring the total number of partners and senior associates across its Nottingham and Derby offices to 30. Rotheras CEO Christina Yardley said: “This year’s cohort of promotions are incredibly talented individuals that reinforce the strength and depth of our legal services. “Natalie Abbott has supported us in our goal of expanding our service areas to ensure that we deliver on our firm values of excellence for clients, looking after their needs through a diverse service offering with exceptional client care driving everything we do.” Double promotion at IMA Architects IMA Architects (IMA), an architectural firm based on Lutterworth Road in Blaby, Leicester, has made two promotions. Joe Travers has been promoted to associate director and Jack Mellor has been promoted to associate. Joe and Jack have both been with IMA since 2011 and have amassed considerable experience across a range of UK wide construction projects during this time. Joe has increasingly specialised within the commercial and industrial sectors and has worked on a number of high-profile projects including the Marks and Spencer Distribution Centre in Castle Donnington, the Co-op Distribution centre in Sutton and Ashfield and the Redrow Homes East Midlands Office, also in Castle Donnington. In 2015, he achieved Chartered Membership status with the Chartered Institute of Architectural Technologists and was promoted to associate in 2017. Working on projects for companies including Clowes Developments, Jessup Partnerships, Vaillant UK, Modus Partnerships, Avant Homes and Venture Properties amongst others, Jack has worked on schemes across the residential, commercial and industrial sectors in the Midlands. He achieved associate status with the Chartered Institute of Architectural Technologists in 2016. Top left to right: Natalie Abbott, Lucy Pettitt, James Briggs. Bottom left to right: Sarah Soo, Grant Benskin, Rebecca Lister. L-R: Jack Mellor and Joe Travers L-R: Ben Dawson and Andy Sawyer 06-15.qxp_Layout 1 03/05/2023 09:20 Page 3Senior promotions for homegrown talent at V Formation East Midlands marketing and PR agency, V Formation, has promoted two members of its team. Amy Cooper is promoted to account manager: digital marketing and Lucy Wharton to account manager: PR. Homegrown talent, both Amy and Lucy joined V Formation as interns on the Nottingham Internship Scheme after completing English degrees at the University of Nottingham in 2017 and 2018 respectively. Amy uses her extensive digital marketing expertise, from Google Ads to SEO, to implement tactical marketing strategies for V Formation’s clients. She is responsible for designing marketing collateral and ensuring brand consistency across all platforms and also delivers digital training to the V Formation team. As account manager, Amy will continue to manage client accounts and lead creative campaigns for clients, specialising in the life sciences sector. With a strong writing background, Lucy is responsible for delivering specialist, proactive and tactical PR services and support, securing earned media coverage, and writing articles for a wide range of audiences and platforms. In her new role as account manager, she will lead client PR campaigns and manage and support junior members of the PR team. Lucy says: “I am delighted to be progressing my career at V Formation and working with our growing roster of ambitious clients to communicate their competitive edge. I am particularly looking forward to working with junior members of team to help develop their PR skills and expertise. I would like to thank V’s directors Hilary and Sue for their continual support, and look forward to the challenges and opportunities this new role will bring.” Draycott-based Hospital Services Limited (HSL) appoints regional director of operations in GB HSL, one of the largest privately-owned distributors supplying the health sector in the UK and Ireland, have appointed Steve Leatherland as their new regional director of operations in GB. It follows the recent announcement of a £1.7m investment in growing their GB-based footprint, including a new UK- based headquarters in the East Midlands. Steve brings over two decades’ experience in the diagnostic imaging and healthcare sectors and a sustained record of achievement in Sales and Business Development, Operations, Customer Service, and Technical & Supply Chain Management with companies including Philips Healthcare, Carestream and most recently Fujifilm Medical Systems. His role will focus in on the development of existing and new opportunities as HSL broadens its reach into health trusts across the country and introduces new technology and manufacturers including Shimadzu, NRT x-ray systems, Dornier MedTech, and Konica Minolta into facilities across England, Scotland and Wales. He will also work to ensure the customer remains at the heart of everything HSL’s growing team does as HSL continues with its plan of continued growth over the coming years. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link APPOINTMENTS Flint Bishop gears up for further growth with senior appointment Law firm Flint Bishop has announced the strategic lateral hire of Dale Bradbury as project accountant as part of its ongoing commitment to invest in its staff and ensure it is well-positioned for strategic growth. Bradbury joins Flint Bishop from Knights PLC, where he held the position of project accountant. Prior to working at Knights, Bradbury held various financial reporting and auditing roles with companies such as RSM, specialising in statutory accounting, efficiency projects, and change management. In his new role, Bradbury will report directly to Flint Bishop’s leadership team and work closely with Chief Executive Qamer Ghafoor on acquisition targets, performing high-level due diligence to ensure the financial performance is suitable for take-on. He will oversee all key touchpoints for any acquisitions; assisting with valuations and negotiations, conducting various fact- finding exercises, and remaining a key contact for acquired staff post- acquisition. In addition, Bradbury will work alongside the accounts leadership team on acquisitions and select projects that support the firm’s financial and risk management operations and overarching finance strategy, reviewing internal matrix and various modelling. L-R: Sue Carr, Amy Cooper, Lucy Wharton of V Formation Steve Leatherland Dale Bradbury 06-15.qxp_Layout 1 03/05/2023 09:20 Page 4Next >