Shifting of the goalposts on net zero is harming businesses, hears East Midlands Chamber’s Sustainability Summit

Tess Egginton
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Shifting of the goalposts on net zero is harming businesses, hears East Midlands Chamber’s Sustainability Summit
Business, industry and academic leaders gave a firm pushback against the Government’s “shifting of the goalposts” on net zero policy at an East Midlands Chamber event yesterday (20 September). Speakers at the Sustainability Summit said “flip-flopping” over net zero commitments from Westminster created huge uncertainty that undermined long-term investments and would ultimately harm the UK’s quest to become a global leader in the green economy. About 200 people representing organisations from across Derbyshire, Leicestershire and Nottinghamshire gathered at Reach Events, in Derby, for the event, held in partnership with the University of Derby, Mazars, Thompson Tree Services and Epson. Exploring how to unlock the green growth for SMEs and the wider East Midlands economy – across themes including leadership, innovation, international trade and best practice – it took place against a backdrop in which Prime Minister Rishi Sunak announced the Government will water down net zero policies, including delaying a ban on the sales of new petrol and diesel cars and phasing out gas boilers. East Midlands Chamber director of policy and insight Chris Hobson said: “We heard at our Sustainability Summit about some of the great things that businesses are doing in pursuing green growth and the very tangible rewards they are reaping with innovation and financial growth. “These are the shining examples of success we can glean from embracing net zero, which means viewing it as not just a challenge but a golden opportunity. “Yet while our national leaders correctly talk up the research and development strengths of our businesses and ambitions to be a global leader in developing low-carbon goods and services, there is a huge disconnect between this messaging and Government policy – as evidenced by the Prime Minister’s ill-judged shifting of the goalposts on our country’s net zero commitments. “We saw first-hand the impact policy flip-flopping has on business decision-making during the chaotic political landscape of 2022, which quashed business confidence and thus investment. The lack of certainty about the future direction of our economy will unfortunately have a similar impact at a time when we should be encouraging transformational long-term investment. “Having net zero targets is one thing, but to get us there we require a roadmap that will be led by business innovation. The vacillating from our political leaders instead undermines our ability to make real progress in this space and we instead find ourselves stuck in limbo when it comes to the most significant economic opportunity of our lifetime.” Findings from the Green Growth Trends in the East Midlands research conducted by the Chamber and University of Derby were discussed by report author Dr Polina Baranova, associate professor of strategy and sustainability. It showed the proportion of East Midlands businesses that have made any income from environmentally-friendly goods and services dropped from 45% in 2022 to 36% in 2023, decarbonisation investment varies significantly according to business size and sector, and a widening gap in business support and information. Dr Baranova said this illustrated not only the impact of the cost-of-doing business crisis but the “fragility” of the current policy landscape, with green growth yet to be a firmly embedded business philosophy. Other highlights at the Sustainability Summit included: · East Midlands Chamber president Stuart Dawkins discussed how sustainability is at the heart of businesses’ responsibility to support their communities and future generations · Professor Chris Bushell, pro vice-chancellor and head of sustainability at the University of Derby, outlined how the institution is taking a lead in the net zero agenda via its research, innovation, thought leadership and knowledge capital · Ian Meikle, director of clean growth at Innovate UK, explained how Britain can create jobs and sustainable economic growth by developing its own low-carbon products and services, but this required stable policy and regulation, innovation in business models and supply chains, and a step-change in access to capital · Chris Fuggle, global head of sustainability services at audit, tax and advisory services firm Mazars, provided practical strategies to upskill leadership teams on the environmental, social and governance (ESG) agenda and embedding sustainability at board level · Charlie de la Haye, communications manager at Epson UK, gave an insight into how the global printing manufacturer had pivoted its business model to deliver green goods and services while demonstrating how it could deliver cost-saving benefits to customers.

Corporate insolvencies hit four-year high

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Corporate insolvencies hit four-year high

The number of insolvent businesses in England and Wales has risen by over a third (33.6%) to hit a four-year high, with company directors heavily impacted by a mixture of long-term economic issues, director fatigue and creditor pressure.

This is according to the Midlands branch of insolvency and restructuring body R3 and follows latest statistics published by the Insolvency Service which show that corporate insolvencies rose by 33.6% in August to 2,308 compared to July’s total of 1,728, and by 18.9% in comparison with August 2022’s figure of 1,941.

The government statistics also show that corporate insolvencies in England and Wales increased by 71.3% against August 2021’s total of 1,347, and by 69.1% compared to the pre-pandemic level of 1,365 in August 2019.

R3 Midlands chair Stephen Rome, a director at law firm Thursfields in the region, said: “August’s corporate insolvency figures were their highest for this month in four years as increasing numbers of companies enter an insolvency process in an attempt to resolve their financial issues, or simply shut their doors.

“Creditors’ Voluntary Liquidations remain high as more and more directors choose to wind down their firms, while compulsory liquidation numbers were at their highest this August for four years as creditors continue to pursue the money they are owed.

“The sad fact is that businesses are being hit from a variety of angles – and all these blows have an effect on their bottom line. Cost inflation has been a problem for some time and, while this is expected to ease, it is still sitting higher than many had predicted.

“As a result of this, upward pressure on pay is continuing, while recruitment is a challenge, and people are still cautious about spending money on anything other than the essentials.

“It’s unlikely that the picture will improve in the near future as people and businesses face the prospect of increased energy bills and start watching their spending even more closely.

“Our message to directors, therefore, is simple: be alert to signs your business could be financially distressed and seek advice as soon as they show themselves. If you’re having problems paying wages, staff or suppliers, if stock is starting to pile up, or if you’re worried about your business and its finances, that’s the time to speak to a qualified advisor.”

BDO strengthens Midlands forensics team with senior hire

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BDO strengthens Midlands forensics team with senior hire
Accountancy and business advisory firm BDO LLP has strengthened its Midlands team with the appointment of Georgina Connor. Georgina joins the Forensics Services team as a director. She brings more than 20 years’ experience to the firm, with expertise in compliance, risks management, and forensic investigation, gained in both the UK and emerging markets. Her experience spans a wide range of industries, including government and healthcare sectors. At BDO, Georgina will focus on anti-bribery and corruption, fraud risk management, and investigation. She will also be supporting clients to manage their risks, including to design, build, implement and monitor related risk and compliance programmes. She is a chartered accountant and previously worked at PwC and GE Healthcare. Sannan Khan, partner and head of Forensic Investigation and Economic Crime Risk Management in the Midlands, said: “Georgina is a fantastic addition to our forensic services team, as we continue to attract some of the brightest talent in the sector – people who have an in-depth understanding of the challenges facing regional businesses and the skills and experience to help guide clients through the complex landscape that surrounds fraud, compliance and other risks.” Georgina added: “I’m delighted to be joining such a talented team at BDO and I can’t wait to help grow our capabilities in what is quickly becoming a business-critical area for companies across a broad spectrum of sectors.” BDO’s annual fraud report released earlier this year showed that an overwhelming number of Midlands mid-sized businesses surveyed (85%) experienced fraud during 2022, with 63% of companies reporting that they feel somewhat or significantly more exposed to fraud since the cost-of-living crisis has taken hold.

Another record year of sales for Dunelm

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Another record year of sales for Dunelm
Dunelm Group, the Leicestershire-based homewares retailer, has hailed another record year of sales. According to preliminary results for the 52 weeks to 1 July 2023, the business saw sales of £1.64bn, up from £1.55bn in the year prior. Profit before tax, however, slipped to £193m, down from £209m last year, which Dunelm said reflects “tight control of margin amidst inflation in our operating costs and our ongoing commitment to investment for the future.” Nick Wilkinson, Chief Executive Officer, said: “In a period of extensive economic uncertainty, we have maintained our focus on enhancing our customer proposition, expanding our offer whilst staying fully committed to value and making every pound count. “This has clearly resonated well with our customers, enabling us to continue growing both sales and market share. As ever, our amazing colleagues have been at the heart of this performance and I thank them all for their knowledge, personality, commitment and enthusiasm. “As we manage the ongoing challenges, it is crucial that we do not lose sight of our longer-term ambitions. We are committed to raising the bar on value and joy for our customers and continuing to invest where we see good returns, so that we can seize the various opportunities ahead. “We are excited about our future growth opportunity and more confident than ever that our commitment to value and tireless focus on improving the experience for our home-loving customers will leave us well placed to deliver sustainable growth in the future.”

Surprise slowdown for inflation

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Surprise slowdown for inflation
The rate of inflation decelerated in August, coming in lower than expected, in part due to the easing of food and non-alcoholic beverage prices. Annualised inflation was 6.7%, decreasing from 6.8% in July. The better than expected inflation data, which had been anticipated to come in at 7%, is creating hope that the Bank of England may leave interest rates as they are tomorrow. Meanwhile core inflation, which takes out energy, food, alcohol and tobacco to give a clear picture of underlying trends, rose 6.2% in the 12 months to August 2023, down from 6.9% in July. While the news has been received positively, the recent rise in global oil and domestic fuel prices, and continuing rise in wages, are causing concern over the future of continued inflation falls.

Kirkby in Ashfield warehouse unit let

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Kirkby in Ashfield warehouse unit let
Acting on behalf of long-term private clients, Ketlin Maeorg and Tim Gilbertson of FHP have completed a warehouse letting in Kirkby in Ashfield. The property benefits from a large yard with fenced and gated access. Ketlin Maeorg said: “I am really pleased with the recent completion of Mill Lane and to have secured this letting for our client. “I believe this deal is a great result for all parties and I wish the new tenants the best of luck in the future. There are not many properties of such nature currently on the market and it was an ideal fit for the new occupier and their business operations. “The level of enquiries the subject property produced proves the continuously high demand we have for good quality industrial units. I look forward to new completions and welcoming new stock to the market.”

Journeo snaps up MultiQ

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Journeo snaps up MultiQ

Journeo plc, an Ashby-de-la-Zouch-headquartered provider of information systems and technical services to transport operators and local authorities, has acquired MultiQ Denmark A/S (MultiQ) for a total consideration of €2.5m on a debt free cash free basis.

MultiQ is a full-service provider of Intelligent Transport Systems (ITS) with customers in Denmark, Sweden and Iceland. The acquisition will provide opportunities for cross-selling of products, technologies and software and strengthens Journeo’s presence in the Nordic market, where it already operates in Stockholm.

Based in Aarhus, Denmark, MultiQ is one of the market leaders in developing and supplying public information systems for bus travel, such as fleet management software and on-board passenger infotainment, indoor and outdoor real-time display systems.

Founded over 15 years ago, MultiQ’s customers include Passenger Transport Authorities (PTAs) and local authorities Passenger Transport Operators (PTOs).

MultiQ was part of a larger group which was acquired by Vertiseit, a Swedish-based retail technology company specialising in digital in-store media in May 2022. In January 2023 the retail digital media assets and a number of employees of MultiQ were transferred out to Dise, a Vertiseit subsidiary, leaving MultiQ as a purely ITS focussed business.

Management expects MultiQ’s revenue for the current year to 31 December 2023 will be approximately €3.3m, with an operating profit of €260k.

Russ Singleton, Chief Executive of Journeo plc, said: “The acquisition of MultiQ provides Journeo with an established, full-service provider of Intelligent Transport Systems in Denmark and further strengthens our expansion into the Nordic markets.

“MultiQ has a leading position and strong SaaS based sales approach with approximately 40% recurring revenue that will complement our existing offering and bring further scale to our cloud-based applications.”

Matt Wallace, Director of Estates and Building Services at Leicester City Council, to deliver keynote speech at the East Midlands Bricks Awards 2023

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Matt Wallace, Director of Estates and Building Services at Leicester City Council, to deliver keynote speech at the East Midlands Bricks Awards 2023
Matt Wallace, Director of Estates and Building Services at Leicester City Council, is set to replace Mike Denby, Director of Inward Investment and Place Marketing at Leicester City Council, as keynote speaker at the East Midlands Bricks Awards 2023. Matt said: “I’m delighted to be speaking at the East Midlands Bricks Awards 2023 as keynote speaker. The awards are a fantastic platform to shine a light on the outstanding work of those that are shaping the landscape of the East Midlands region. I am very much looking forward to celebrating the great successes of the companies and individuals that make our region a prime investment destination.” Showcasing the East Midlands’ property and construction industry, this year’s East Midlands Bricks Awards will take place on Thursday 28 September at the Trent Bridge Cricket Ground. The awards, which will begin at 4:30pm and continue until 7:30pm, also present a prime opportunity to network with the leaders of property and construction businesses from across the region over canapés and complementary drinks, sponsored by Nicholas Associates. Attend the glittering awards ceremony to see who takes home the title of Contractor of the Year, Developer of the Year, Commercial Development of the Year, Residential Development of the Year, Sustainable Development of the Year, Deal of the Year, Most Active Agents of the Year, Architects of the Year, Excellence in Design, Responsible Business and of course Overall Winner. Dress code is standard business dress.

Tickets can be booked here.

 

Shortlist for the East Midlands Bricks Awards 2023

Most Active Estate Agent – sponsored by OMS

BB&J Commercial

Mather Jamie

FHP   Commercial Development of the Year – sponsored by MKM

HBD – Power Park, Nottingham

Henry Brothers Construction – SportPark Pavilion 4, Loughborough

Bolsterstone Group Plc, Chesterfield Borough Council – One Waterside Place, Chesterfield   Responsible Business of the Year – sponsored by Press for Attention PR Cawarden G F Tomlinson Aspbury Planning Limited   Residential Development of the Year – sponsored by Sterling Commercial Finance

Phoenix Brickwork UK Ltd – St Marks student accommodation, Lincoln

Elms Developments – Elms Phase Two Ltd

St James Securities, Grainger – The Condor, Derby

  Deal of the Year – sponsored by Mather Jamie

Rushton Hickman Limited – Branston Locks deal

Bassi Group Nottingham Ltd – Job saving Pizza Hut takeover

Rigby & Co – Aida Factory deal

  Developer of the Year – sponsored by Ward

Chevin Homes

Clowes Developments

Brackley Property Developments

  Architects of the Year – sponsored by Blueprint Interiors

IMA Architects

Matthew Montague Architects

Influence Landscape Planning and Design

  Excellence in Design – sponsored by Cawarden

Chevin Homes – Amber Farm

Marchini Curran Associates – Phoenix cinema and art centre

Trident Construction Services – Lark Hill Retirement Village refurbishment

  Sustainable Development of the Year – sponsored by Viridis Building Services Ltd

HBD – Power Park, Nottingham

Henry Brothers Construction – SportPark Pavilion 4, Loughborough

Elms Developments – Elms Phase Two ltd

  Contractor of the Year – sponsored by RammSanderson Cawarden

EE Smith Contracts

Bowmer + Kirkland

  The Overall Winner, sponsored by Streets Chartered Accountants, will also be announced at the ceremony, who will be awarded a year of marketing/publicity worth £20,000.
East Midlands Bricks Awards 2023 When: Thursday 28 September 2023, 4:30pm – 7:30pm Where: The Derek Randall Suite, Trent Bridge Cricket Ground Keynote speaker: Matt Wallace, Director of Estates and Building Services at Leicester City Council Dress code: Standard business attire Tickets: Available here Parking: Due to the Notts V Middlesex 4 day County Championship fixture, parking will likely be limited at Trent Bridge on the day, therefore parking has been made available for Bricks guests at the Notts Sports Club, Holme Road, NG2 5AA (by Nottingham Rugby Football Club), quoting “Bricks Awards” to any parking and gate stewards. Thanks to our sponsors:                                                             To be held at:
 

Architects submit planning application for new meditation hall

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Architects submit planning application for new meditation hall
A planning application has been submitted to South Derbyshire District Council for a new Meditation Hall at the Grade II listed Ashe Hall in Etwall on behalf of the Tara International Kadampa Retreat Centre. Matthew Montague Architects have designed a new Tara Meditation Hall that can be used for a variety of teaching and meditation practices. A simple, light and airy space which can be opened up to the surrounding landscape. Architect, Matthew Montague said: “There are a number of beautiful Buddhist spaces across the UK, the main one being the Kadampa Temple for World Peace in Ulverston in the Lake District, however, the Tara Meditation Hall will be unique in its design. “I’ve designed a lot of buildings over the past 25 years but never one that will be used by thousands of visitors from around the world before.” Ashe Hall was built in 1869, it was a family home until it became a boarding school for boys in 1920. The hall was used as a World War II Red Cross hospital and then passed to local government ownership and operated as a special school until it was purchased by The Tara Buddhist Centre in 1996. Since it has operated as the Tara International Kadampa Retreat Centre. The main hall comprises residential accommodation and teaching spaces for the practice of Kadampa Buddhism, with the courtyard buildings being ancillary teaching accommodation and a World Peace Café, that is open to all. Beyond this are detached staff houses. The centre had a meditation hall for many years, it was a pre-fabricated structure, however it fell into a state of disrepair and was eventually condemned as a health risk and was demolished in the late 1990’s. The new Hall will comfortably accommodate 250 people and will be a focal point for the thousands of visitors who use it for classes, retreats and national Buddhist celebrations every year. Matthew added: “Understanding the client’s requirements and beliefs and integrating them with architecture were really important for this design. If planning permission is granted the new centre will be a modern building that retains the essential meaningful ordainments and aspects that make a holy place within the Buddhist tradition.” A planning decision from South Derbyshire District Council is expected in the coming weeks.

Auctioneer appoints former apprentice to Board

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Auctioneer appoints former apprentice to Board

Nottingham-headquartered national auction house, John Pye & Sons Ltd, has bolstered its senior team by appointing Trevor Palethorpe to its Board of Directors.

Trevor began his career with auctioneer John Pye in 1997 as a junior to company co-owner Ann Pye. Since the early days he has held many roles within the business and is a key part of the team, led by Managing Director Adam Pye, that has transformed the small family firm into an award-winning, multi-million-pound business.

Currently, Trevor jointly heads up the auctioneers Business Assets and Property divisions, drawing from over two decades of experience in the turnaround and restructuring market.

Over the last 24 months, his role has evolved to include overseeing the company’s marketing strategy. During this period, bidder registrations rates have almost doubled, the company has experienced the fastest ever social media growth and its website is ranked the number one auction site in the UK.

Trevor says: “To be joining the Board at such a pivotal time in the firm’s history is incredibly exciting and humbling. Since joining the firm as a trainee all those years ago, the business has evolved almost beyond recognition, particularly in the last few years.

“It is my ambition that when I step down in the distant future the company achieves sustainable growth and is even bigger and better than it is today.”

Trevor has provided valuation and sales advice on some of the UK’s most high-profile administration cases, including Phones4U, Jack Wills, Jessops Plc, Sofa Workshop and most recently MADE.com, securing stock with a retail value of £33million.

Adam Pye, Managing Director, says: “Trevor has played a pivotal role in helping to develop John Pye and Sons into the renowned award-winning, multi-million-pound business it is today.

“This appointment is a testament to our commitment to growing talent from within and the part Trevor has played in helping us drive into new markets and achieve our ambitious goals to date.”

A former President of NAVA Propertymark (The National Association of Valuer & Auctioneers), which currently has a network of over 20,000 members, Trevor has sat on its advisory board since 2017. He was also appointed a Director of Turnaround Management Association UK in 2021, an organisation dedicated to all aspects of business turnaround, recovery and renewal.

The appointment takes the number of Board directors at the independent family business to nine and comes as the auction specialist looks to continue a sustained period of growth.

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