Leicestershire-based Bramble Foods gobbles up The Bay Tree Food Co

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Leicestershire-based Bramble Foods gobbles up The Bay Tree Food Co

Leicestershire-based Bramble Foods Group, a manufacturer and distributor of fine foods to independent, local retailers, garden centres, farm shops and holiday parks, has acquired The Bay Tree Food Co, an award-winning manufacturer of branded chutney, relish, sauce and jam.

The Bay Tree Food Co was founded by Emma Macdonald in 1994 and has been creating artisan chutney, relish, sauce and jam from its BRC accredited factory in Ivybridge, Devon, ever since.

In addition to its own brand products, The Bay Tree Food Co offers own-label and bespoke recipe solutions to independent retailers and food service companies.

Emma Macdonald, founder and CEO of The Bay Tree Food Co, will stay with the business to help deliver the next phase of its growth. She said: “We are very excited to work with the Bramble team. Being part of a larger group will accelerate the next phase of our development and I’m looking forward to the opportunities that will bring.”

Headquartered in Market Harborough, Leicestershire, Bramble Foods manufactures and supplies more than 2,000 products, ranging from preserves, pickles, chutneys and sauces, to cakes, biscuits, confectionery, hampers and seasonal goods. It has c. 2,000 customers and turnover of £35m.

Tony Foster, CEO at Bramble Foods, added: “At the heart of Bramble Foods is an unrivalled range of high-quality foods. Year on year, we have increased our food production capabilities and invested in our personalisation service to offer unique bespoke products to our customers. The Bay Tree Food Co enhances our branded product offering and production facilities, and we’re thrilled to welcome Emma and her team to the Group.”

Bramble Foods was backed by private equity firm LDC, which is part of Lloyds Banking Group, in 2022 and since then LDC has supported Tony and the wider management team as they deliver their organic and acquisitive growth strategy.

Rob Schofield, partner at LDC, added: “The Bay Tree Food Co is a fantastic business that produces outstanding products, and joining Bramble Foods Group presents an excellent opportunity to support the growth of its offering. We look forward to continuing to support Tony and the team on the next phase of their journey.”

2024 Business Predictions: Emma Speirs, Managing Director, Ballyhoo PR

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2024 Business Predictions: Emma Speirs, Managing Director, Ballyhoo PR
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.  It has become something of a tradition, given that we’ve been doing this now for over 30 years. Here we speak to Emma Speirs, Managing Director at Ballyhoo PR. PR moves fast and is ever evolving. In a world where people can now essentially publish their own stories without passing through third parties such as newspaper editors or journalists, there is a very real risk of fake news and propaganda being taken as truth, so data-based stories are going to be more popular in 2024. Consumers of the media, or social media, will be looking for proof that what they are reading is true. The new year will also see digital PR begin to drive SEO (search engine optimisation) strategy rather than the other way around. Digital PR is a secret weapon in your PR and marketing arsenal. More than just online coverage, it is a fantastic way to support your SEO strategy as you are naturally having articles published on topics relevant to you and your business that you also want to rank on Google for. 2023 saw the rise of artificial intelligence (AI), and while there are some huge benefits to using AI in your PR and copywriting, such as to generate creative ideas, it can’t be a replacement for genuine expert comment and brand personality. Using AI to write expert comment or opinion pieces means companies are not sharing their own knowledge and experience, but instead regurgitating what is already out there on the internet which will damage their brand. In 2024 companies need to cut through that noise and show more of who they are, what they know and why people should trust them and their business. Bringing the human back into PR and storytelling to show authenticity, build credibility and spark emotional connections will be essential.

It is all change for cryptocurrency tax reporting, but help is on hand: by Michael Ball, tax partner at Streets Chartered Accountants

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It is all change for cryptocurrency tax reporting, but help is on hand: by Michael Ball, tax partner at Streets Chartered Accountants
Michael Ball, tax partner at Streets Chartered Accountants, considers the topic of cryptocurrency tax reporting. On the 29th of November His Majesty’s Revenue and Customs, HMRC, launched a new campaign to pursue unpaid tax from crypto investors. The campaign seeks to encourage individuals to come forward and disclose any unpaid tax on crypto assets including exchange tokens, NFTs and utility tokens. In part, the approach highlights their concern that many crypto assets owners are seemingly unaware of the responsibility and requirement to disclose and report taxable gains. According to HMRC, some 37% of people said they knew ‘little’, while more than one in five were ‘not familiar at all’ with the capital gains tax requirements for holding crypto. In addition, from the 2024-25 tax year there will be changes to reporting on the sale of cryptocurrency with the Self-Assessment Tax Return forms. The change will see the introduction of a standalone section for individuals and trusts which have disposed of crypto assets. Currently, the sale of cryptocurrencies is reported alongside a range of ‘other’ assets and reliefs. To support clients, we have added a dedicated section on our website covering the tax treatment and reporting for cryptocurrency: https://www.streetsweb.co.uk/accounting-services/cryptocurrency/ Help with cryptocurrency transactions for tax reporting! We recognise that for some individuals, especially those with a high number and value of transactions, assessing whether they need to report or include cryptocurrency in their tax return can be a challenge, let alone actually compiling an acceptable crypto tax report for the eyes of HMRC. As such, for those without access to any cryptocurrency tax specialist software, we are delighted to have linked up with Recap. Recap is completely free to get started. Simply connect your crypto exchange accounts like Coinbase, Kraken and Binance and discover if you need to file a return for free. If you need to file, Recap has two price plans to generate tax reports. £99 including VAT for accounts with less than 5000 transactions and £179 including VAT for accounts that exceed 5000 transactions. To receive a link for your free trial and/or to take advantage of an introductory offer please email cryptotax@streets.uk   See this column in the January issue of East Midlands Business Link Magazine here.

First steps in multi-billion-pound STEP project with planning permission granted for UKAEA base in North Nottinghamshire

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First steps in multi-billion-pound STEP project with planning permission granted for UKAEA base in North Nottinghamshire
A significant milestone preparing for a UK first in energy production, which will create thousands of jobs and attract investment in North Nottinghamshire, has been reached. The multi-billion-pound project at West Burton will transform the power station site to support the development of STEP (Spherical Tokamak for Energy Production) the UK’s prototype fusion energy plant which aims to demonstrate electricity from fusion. Bassetlaw District Council has approved plans for the first temporary building to be constructed on site – helping to contribute to employment opportunities, regeneration and assist in preparation for the ambitious project being led by the UK Atomic Energy Authority (UKAEA). Cllr James Naish, Leader of Bassetlaw District Council, said: “Delivering a prototype fusion energy plant at West Burton will bring massive investment to the area and is a game changer for our local economy. “The granting of our first planning permission to the UKAEA and the first planning permission for new construction on the STEP site is a significant milestone for the Council. I look forward to more applications coming forward as the project continues to develop at West Burton over the next two decades.” The temporary building will house project staff as they work on the plans to deliver a prototype fusion energy power station to prepare for future production of low carbon energy. Fusion energy has great potential to deliver a safe and virtually limitless source of clean electricity, based on the same processes that power the sun. James Cowan, Director of Programme Development for STEP as part of UKAEA Group, said: “It’s going to be our first UKAEA base in North Nottinghamshire, and a location from which we can fulfil our vision of delivering a prototype fusion plant that moves us towards commercial viability. “We are pleased to be working with Bassetlaw District Council on this programme of national significance. I hope this will be the first of many planning approvals in the future, helping us to collectively deliver social and economic benefits to the area.”

Seeds of recovery sown for East Midlands economy in 2024 as start-up businesses increase and insolvency-related activity falls

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Seeds of recovery sown for East Midlands economy in 2024 as start-up businesses increase and insolvency-related activity falls

A sharp rise in the number of start-ups in the East Midlands and a fall in insolvency-related activity are sowing the seeds for economic growth in the region as businesses head into the first quarter of 2024.

According to the Midlands branch of R3, the UK’s insolvency and restructuring trade body, there were 2,006 businesses set up in the East Midlands in December, which is over a fifth (20.19%) higher than twelve months previously.

R3’s figures, which are based on an analysis of data from business intelligence provider Creditsafe, also show that levels of debts owed by businesses in liquidation in the region fell by two thirds (66.27%) over the same period, and by almost a half (45.1%) between November and December last year.

At the same time, insolvency-related activity in the East Midlands – which includes liquidator and administrator appointments as well as creditors’ meetings – fell by 8.87% in December compared to twelve months previously.

R3 Midlands chair Stephen Rome, a partner at local law firm Penningtons Manches Cooper, said: “These are encouraging statistics and are welcome reading at a time when local companies are facing significant and longstanding economic challenges.

“We should be in no doubt, however, that a sizeable percentage of our region’s businesses continue to struggle, and we are very likely to see corporate insolvencies rise in the coming months.

“The focus now has to be on maintaining these positive figures over the longer term, stimulating further growth and facilitating recovery for those businesses which are struggling.

“Key to this is the ability and willingness of business owners to monitor their company’s finances carefully and to plan ahead. As soon as cash flow becomes a major challenge, professional advice should be sought.

“Crucially, there is a significant amount which can be done to rescue and support East Midlands businesses if help is taken early enough.”

Loughborough-based software firm creates hundreds of new jobs in Romania

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Loughborough-based software firm creates hundreds of new jobs in Romania
Eight months since The Access Group opened its new Global Operations (GO) Centre in Timişoara, the Loughborough-based business has seen huge progress in the skills development of its teams and created more than 430 jobs in Romania.The opening of the new office in May 2023 marked the next phase of global expansion for The Access Group, one of the largest UK-headquartered providers of business management software to small and mid-sized organisations in the UK, Ireland, USA and Asia Pacific.Radu Giju, Managing Director at The Access Group in Romania, said: “The Access Group had already built a strong brand here before the GO Centre opened and it is fast becoming an employer of choice for people in Timişoara and beyond.“The GO Centre has highlighted the skills and potential of the local talent pool here in Romania, especially within software engineering and customer service, and our teams have become a strong representation of our ambition, brand and culture here.”Staff at the office are working closely with local schools, universities and businesses in 2024 to support The Access Group’s early careers programme, which helps develop specialist training and the competency of young people.Mr Giju added: “Since the new GO Centre opened, we have seen our staff nurture a culture of creativity and critical thinking and they are motivated to empower our local students to make a positive impact in their future and areas they’re passionate about. “Our goal is to connect with local communities and help strengthen them in meaningful ways. We developed strategic partnerships that leverage and empower entire communities while recognizing that each one has unique needs and opportunities.”In November last year, the first cohort of students from Grigore Moisil Mathematics & Informatics High School visited The Access Group offices to start the early careers programme and a partnership has been formed with the West University of Timişoara to enhance digital and marketing skills in the region this year.Since opening the opening of the GO Centre in May 2023, staff have raised RON 56,000 (£9,700) for Scoala Mamei Junior, their nominated Charity of the Year, which works with schools, rehab centres for special needs children and hospitals by renovating and bringing in new medical equipment to improve Romania’s healthcare system, especially for children.The Access Group employees have also taken part in other community events such as quarterly blood donations and tree planting sessions, donating their time, voice and expertise to help those in need, showing their commitment to social responsibility.The Access Group began its Romania journey in 2018 when it aligned with Intelligent Software Systems (ISS), with 106 employees at that time. Since then, the team has continued to grow, developing solutions such as Access EarlyPay and Access Workspace from its offices in both Timişoara and Arad.

Students visit innovative new construction training centre

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Students visit innovative new construction training centre

Career-minded students who will be the first to study at an innovative new construction training centre in Staveley joined project leaders for a visit to see how the development is progressing.

The Construction Skills Hub is a key project led by Chesterfield Borough Council and funded through the Staveley Town Deal. It will provide specialist training and career insights for thousands of learners in Staveley – creating opportunities for people to start, stay and grow in the town.

It will equip learners with the skills they need to access careers in the construction industry whilst also providing them with experience on a live construction site, as the Hub will be located in a new housing development in Mastin Moor.

Students were enrolled onto the programme in September and have started their learning at Chesterfield College whilst development of the Construction Skills Hub is ongoing, but they visited the future site to look at progress on the groundworks and see the construction project in action. They will be based on the site from April 2024 as supporting construction of the Hub will form part of their practical experience during their first year on the programme.

All students enjoyed the visit and were impressed with the scale of the site and intricacies of the groundworks taking place. First year student Brandon said: “I am really happy to be a part of the first group of students to be involved at the Construction Skills Hub, I am learning valuable skills at college, and I can’t wait to use these skills on a real life construction site.”

The council-led project is being built on land owned by the Devonshire Group, with training provided by Chesterfield College and the University of Derby.

Councillor Tricia Gilby, Leader of Chesterfield Borough Council and vice-chair of the Staveley Town Deal Board, said: “This is a fantastic project for Staveley that is built on strong partnerships between the public and private sector. Providing the opportunity for people to develop both skills and experience in one location will help ensure that they can access careers in the sector when they complete their qualifications.”

Chesterfield College Assistant Principal for Advanced Manufacturing and Building Technologies, Gavin Varley, explains: “The Construction Skills Hub will make a career-lasting impression on the next generation of local construction trades workforce as they are honing their professional skills.

“As a college, we know the experience of working on a live site is invaluable and will benefit our learners for years to come so providing opportunities to be part of projects such as this one is essential to our mission of inspiring futures and changing lives.”

Initially the Hub will provide training in site and bench joinery, brickwork, groundworks and electrical installation but in time will offer opportunities in retrofit and green technologies. It will be open to school leavers and other residents seeking to train or retrain. 

Andrew Byrne, Property Development Director for Devonshire Group Property, said: “The Construction Skills Hub is set to provide incredible opportunities for local students looking to gain the best possible start to a richly diverse career in the sector.

“Ensuring that the construction and property development industry has a strong pipeline of upcoming talent is pivotal to its progressive future success, so I have no doubt that we’re as excited as the participating students by the opportunities promised by the hub.” 

Funding for the Construction Skills Hub has been provided through the Staveley Town Deal. Over ten years, the Hub aims to provide careers insights, training and work experience for over 5,000 learners.

Nottingham Forest charged with Premier League Profitability and Sustainability Rules breaches

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Nottingham Forest charged with Premier League Profitability and Sustainability Rules breaches
Nottingham Forest FC has been charged with a breach of the Premier League’s Profitability and Sustainability Rules (PSR). This is as a result of sustaining losses above the permitted thresholds for the assessment period ending Season 2022/23. In accordance with Premier League Rules, the case has now been referred to the chair of the Judicial Panel, who will appoint Commissions to determine the appropriate sanction. Commissions are independent of the Premier League and member clubs. The proceedings are heard in private with the Commissions’ final decisions made public on the Premier League’s website. A statement from the club said: “Nottingham Forest acknowledges the statement from the Premier League confirming that the club has today been charged with a breach of the league’s Profitability and Sustainability Rules. “The club intends to continue to cooperate fully with the Premier League on this matter and are confident of a speedy and fair resolution.”

Transformational regeneration at the Leicester & Leicestershire Property Summit

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Transformational regeneration at the Leicester & Leicestershire Property Summit
Over 100 property executives have already registered for the upcoming Leicester & Leicestershire Property & Construction event on March 6. This gathering promises an afternoon of valuable networking, knowledge sharing, and in-depth exploration of the regeneration landscape across Leicester and Leicestershire. This event spotlights the region’s offerings for businesses seeking to expand and thrive, with a particular focus on the transformative potential of the East Midlands Freeport. Tom Newman-Taylor, Chief Executive of the East Midlands Freeport, will highlight its progress so far and articulate the significant advantages for the region, delivering tens of thousands of skilled jobs, providing the ability to attract global investment. James Arnold, Strategic Director of Place at North West Leicestershire District Council, will showcase how their exceptional road, air, and rail infrastructure has fuelled significant investment, highlighting specific examples of successful projects that have driven economic growth and regeneration. He will also unveil North West Leicestershire’s ambitious strategic growth plan for the future, outlining their vision for continued progress. Matt Hall, National Director at the multi-disciplinary consultancy firm Pick Everard, said: “As a firm with over 150 years of investment in Leicester and Leicestershire, Pick Everard is proud to support events like this that foster crucial collaboration in the property and construction industry. This kind of engagement will only benefit the region, driving growth and success for all businesses involved.” Rob McGuinn, Chairman of Team Leicester, said: “Born from a passion for our region’s property sector, Team Leicester aims to champion its potential and spread positive messages about investment opportunities. The overwhelming interest in this event, focused on supporting regeneration across Leicester and Leicestershire, is truly inspiring. “This lunch represents a fantastic opportunity for collaboration, allowing us to translate that passion into concrete action and shape a vibrant future for our city and county.” The event will be held at the City Rooms in Leicester City Centre on Wednesday 6 March and welcomes Glenfield Electrical as an associate sponsor. Tickets can be booked here.

2024 Business Predictions: Michael Vaughan, director, Swift FX

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2024 Business Predictions: Michael Vaughan, director, Swift FX
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.  It has become something of a tradition, given that we’ve been doing this now for over 30 years. Here we speak to Michael Vaughan, director of foreign exchange company, Swift FX. With the UK avoiding recession and inflation going in the right direction there has been some positivity to end 2023. Natural gas prices, which spiked after Russia’s invasion of Ukraine, have dropped, aiding a fall in UK inflation. With the US being a net exporter of gas, a rise in the gas price supports the value of the US dollar, one of the reasons it has been so strong for much of 2023. With gas prices falling, the US dollar has corrected against some currencies including the pound. The failing of some US banks in 2023 has also reduced confidence in the US economy cooling demand for dollars. My expectation for the pound vs US dollar heading into 2024 would be for these trends to continue. I would hope to see 1.30 tested by the end of Q1, but should inflation continue to fall and the Bank of England cuts interest rates, I could see a correction for the pound towards 1.25. Looking at the pound vs the euro, this is more stable. As with other central banks, the European Central Bank (ECB) has targeted inflation. This narrative was challenged with news that eurozone inflation tumbled in November, dropping to 2.4%. Markets have priced in a first interest rate cut in April whereas the BofE is unlikely to act until Q2. This should result in a positive start for the pound in 2024 and I would hope to see 1.18 with rates adjusting to 1.15 in Q2.
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