Meridian Space Command chooses Space Park Leicester for HQ

An organisation helping to accelerate the expansion of UK space technology around the world has opened its headquarters at Space Park Leicester. Meridian Space Command helps space sector organisations to secure funding for, and complete technology demonstration missions which enable them to expand into commercial markets. It also supports the space industry with end-to-end mission management, operations, software, audits and education. To further its growth, Meridian has moved to the University of Leicester’s £100 million science and innovation park to capitalise on Space Park Leicester’s state-of-the-art facilities. The move will also enable the organisation to collaborate with the University of Leicester and to showcase its offering to businesses, ranging from industry giants to innovative start-ups, in and around the Space City Leicester cluster. Meridian Director, Dr Sam Richards, said: “I am extremely proud to establish Meridian’s headquarters at Space Park Leicester, and look forward to cultivating our partnerships and expanding our capacity to offer collaborative opportunities for UK technologies. “Space Park Leicester is a hub of expertise, innovation, education, and partnerships and we’re excited to participate in all these things and to contribute to them. We see Space Park Leicester as a key partner in Meridian’s vision to accelerate the global offerings of UK’s space tech. “It also means a great deal to be part of the Space City Leicester community. It’s rare to find somewhere with commercial enterprises located alongside space companies. This unique environment will help us to develop partnerships with services that could otherwise be overlooked. “Space City is a bold development and its continual expansion provides great opportunities for collaboration.” Meridian’s move has been welcomed by Vinay Patel, Head of Commercial and Innovation, at Space Park Leicester. He said: “Meridian is a fantastic organisation and we’re delighted that they have moved to Space Park Leicester to help further expand their client base. “With their educational offering it also makes perfect sense for them to be here as they can benefit from fantastic links with the University of Leicester. “We were particularly excited to hear Meridian is set to offer an educational short course in Newspace Mission Operations and Management which will train the next generation of space industry enablers.”

£9.2m secured for Hucknall town centre regeneration

Ashfield District Council has secured £9.2 million for their Levelling Up Fund Round 2 application for Hucknall. The Council’s ambitious plan to drive economic regeneration in Hucknall has been recognised by the government as being high-quality and ready to deliver. The Levelling Up Fund bid is centred around three main themes – Skills and Economic Regeneration, Cultural and Heritage Gateway, and Access to Hucknall town centre. The Levelling Up Fund investment is part of the Council’s ambitious regeneration programme for the District which will see well over £100m of investment during the next 2-3 years. Cllr Matthew Relf, Executive Lead Member for Growth, Regeneration and Planning, said: “We are absolutely thrilled that the Council’s ambitious plan for Hucknall has been recognised by the government. We aim to improve the access into the town to attract more visitors, and businesses to reinvigorate the town centre. “The cultural and heritage enhancements will celebrate Hucknall’s rich heritage and provide new opportunities for people to learn about this history. This outcome is tremendous and will support the Council’s aspirations for Hucknall to be a modern town centre where businesses prosper, and residents are proud to be from.” Councillor Jason Zadrozny, Leader of Ashfield District Council, said: “This is the culmination of a lot hard work from Hucknall’s Councillors, our administration and Officers from the Council. “It will fulfil our vision of creating a vibrant, thriving town centre. Now we have secured money for every major town in Ashfield – our concentration will now be on securing more investment for the Selston Parish and our other villages.” Cllr Lee Waters, Ward Councillor for Hucknall North, said: “I am overjoyed that Hucknall’s Levelling Up Fund bid has been approved. It is hugely ambitious and will be one of the biggest investments in our town for decades. “It will focus on improving the life chances of residents, turbo charging investment, fast tracking public transport improvements – all whilst remembering our heritage. This is our chance to make significant change that will be benefit Hucknall for generations to come.”

College site sold in Melton Mowbray

FHP, acting on behalf of Melton Mowbray Town Estate, have completed the sale of the former Brooksby College on King Street in Melton Mowbray. David Hargreaves, who handled the sale, said: “The college relocated long ago from this site and it had sat there partly derelict for a while despite being in a really good central location in the town centre, opposite a car park and close to the bus station.” The building totals some 16,000 sq ft with parking for 10 cars and was marketed with a guide price of “offers over £400,000.” Hargreaves said: “Our marketing targeted Residential Developers, Housing Associations, Office, Workshops and Medical users and we had significant interest. This ranged from an Art Gallery, to a Dance Studio, a Church, Manufacturing and a Recording Studio, as well as interest from Developers looking to either refurbish or demolish the building for housing. “We started marketing in August which was not ideal due to holidays and with the property market as a whole still in shock from Base Rates rising to 5.25% from sub 1.00%. “Because of the market conditions we ‘guided low’ in terms of price which generated strong interest and enabled us to go to ‘Best Bids’. “We received 5 offers with a sale completing at the end of January – just 5 months after launch at a price well in excess of £500,000.” It is understood the Peterborough-based buyer is proposing a refurbishment of the property into apartments for rental plus some new build accommodation. Graham Betts, Chair of Melton Mowbray Town Estate, said: “We are delighted to have sold this building and look forward to seeing it being brought back in to use for the benefit of the town. “David Hargreaves and FHP did a great job in terms of marketing and generating interest and secured a price above our expectation – brilliant.” Chattertons acted as legal advisors, and Nottingham-based FHP Property Consultants as property advisors.

Nottingham Building Society reports “strong” 2023 financial performance

Nottingham Building Society (The Nottingham) has reported “a positive financial performance” for the year ended 31 December 2023, achieving growth in mortgage lending in a challenging economic environment as it continues its transformation plan. The Nottingham saw an increase in gross new lending (reaching £887m), total mortgage assets (reaching £3.6bn), and new mortgage customers (6,957), while its total savings balance also grew, as well as total interest paid to savers. The firm’s CEO praised the results, despite a dip in profit, where profit before tax stood at £8.3m, representing a decrease of £10.6m on the prior year. Underlying profit before tax of £24.2m, however, represented a £9m increase.

Sue Hayes, CEO of The Nottingham, said: I am pleased to report our financial results for 2023 alongside the progress towards delivering our strategy. Our financial performance in 2023 was strong, with profit before tax of £8.3m (2022: £18.9m), an underlying profit before tax of £24.2m (2022: £15.2m) and an 18.3% increase in mortgage balances compared with 2022.

“We achieved significant growth in mortgage lending while overall lending in the UK mortgage market fell. We helped 6,957 (2022: 3,984) customers either take out a mortgage with us for the first time or move to a new mortgage.

“We achieved good growth in our savings balances of 18.3%. We diversified our proposition to offer a variety of attractive products and savings rates to our customers via our branch network and online savings app.

“As interest rates have risen and remained high throughout this year, we have focused on paying savers the best rates we can whilst doing what we need to strengthen the Society. We paid a total of £91.8m in interest to savers in 2023 (2022: £23.9m). 

“I am proud of the results we are sharing today and would like to thank our members, and each one of our dedicated colleagues, for their continued trust in the Society. We look ahead to the coming years with a renewed sense of focus, guided by a clear and impactful purpose, with mutuality as our bedrock. 

“Looking to the future, we will continue to monitor the impact of movements in base rate on our mortgage and savings propositions, while focusing on innovation in our products as part of our ongoing transformation journey. We will also continue to support our saver members with attractive savings propositions.

Frasers Group’s recently acquired luxury retailer MATCHES put into administration

Shirebrook-based retail giant Frasers Group has put recently acquired luxury fashion retailer MATCHES into administration. The company said MATCHES has consistently missed its business plan targets and has continued to make material losses. Frasers Group told the London Stock Exchange: “Whilst MATCHES’ management team has tried to try to find a way to stabilise the business, it has become clear that too much change would be required to restructure it, and the continued funding requirements would be far in excess of amounts that the Group considers to be viable. “In light of this, Frasers has been informed that the directors of MATCHES have taken the decision to put the MATCHES group into administration. Frasers remains committed to the luxury market and its brand partners.” It comes shortly after Frasers Group bought the business in a £52 million deal. At the time it said the acquisition would be an opportunity to further develop Frasers’ Elevation Strategy and strengthen its luxury offering. The MATCHES business had been loss making in recent years.

£432m bid lodged for Mattioli Woods

The sale of Leicester-based Mattioli Woods is on the horizon, with an agreement reached on the terms and conditions of a recommended cash offer.

Under the terms of the acquisition, shareholders will be entitled to receive 804 pence in cash for each Mattioli Woods Share.

The consideration values the entire issued and to be issued ordinary share capital of the wealth management firm at approximately £432 million.

Tiger Bidco Limited, a wholly-owned subsidiary of investment vehicles advised and managed by private equity firm Pollen Street Capital, is behind the offer. Mattioli Woods Directors intend to recommend unanimously that shareholders vote in favour of the offer.

Ian Mattioli MBE, CEO of Mattioli Woods, said: “Since our admission to AIM in 2005, we have seen significant expansion in both the size and nature of our business, integrating asset management, financial planning and employee benefit services to serve personal and corporate clients throughout the UK.

“We have a strong track record of combining like-minded businesses that share the same culture and ethos of putting clients first. The team at Pollen Street Capital share our passion for delivering exceptional client outcomes and have demonstrated their ability to partner with entrepreneurial financial services business.

“I believe that with Pollen Street Capital’s support and access to capital we can accelerate the delivery of our strategy and provide our clients with the proactive advice and bespoke investment solutions they require.”

Anne Gunther, Non-Executive Chair of Mattioli Woods, said: “The Mattioli Woods Board is pleased to announce its unanimous recommendation of this cash offer for Mattioli Woods, which not only delivers attractive value to Mattioli Woods shareholders in cash, allowing them to crystallise the value of their holdings, but also provides significant opportunity for clients, employees and wider stakeholders.

“Mattioli Woods is recognised as a leading advice-led wealth manager and enjoys both direct distribution through its consultancy team and intermediated distribution through certain third parties. I believe that Mattioli Woods’ success is driven by an unwavering client-centric culture, the quality of its people and a responsibly integrated business model.

“The Mattioli Woods Board recognises the opportunities that can be delivered under private ownership, including access to incremental growth capital and other resources to accelerate the development of its technology and pursue transformative acquisitions.

“Pollen Street Capital is highly supportive of the Mattioli Woods management team’s strategy to create one of the UK’s leading wealth managers with the critical scale and holistic product offering to address the changing financial planning and investment needs of its clients.”

Lindsey McMurray, Managing Partner of Pollen Street Capital, said: “We are pleased to have reached agreement with the Mattioli Woods Board on the terms of Bidco’s offer to Mattioli Woods Shareholders.

“We believe Mattioli Woods would benefit from a transition to private ownership, which would enable Mattioli Woods to accelerate its growth strategy and to capitalise on the market opportunity in UK wealth management.

“Pollen Street Capital has strong heritage in supporting companies in the financial and business services sectors and we are excited by the opportunity to work with Mattioli Woods in achieving our ambitious goals for the business.”

Senior promotions signal continued growth at Flint Bishop

Top 200 law firm Flint Bishop has announced a series of senior promotions, amidst a period of solid business performance and strategic expansion. Angela Davis has been promoted to Partner & Head of Family & Matrimonial. Since joining Flint Bishop as an Associate in May 2018, she has demonstrated exceptional dedication, expertise, and leadership, earning a promotion to Senior Associate in November 2021. With over 30 years of post-qualification experience in family law, Davis has held significant roles at reputable firms. She specialises in advising individuals on wealth preservation during divorce or relationship breakdowns, regularly handling high-net-worth cases with estate values ranging from £1m-£10m, often with international aspects and foreign laws and regulations. Mark Wilcock, promoted to Corporate & Finance Partner, has over 10 years of expertise in a diverse array of corporate matters, including acquisitions and disposals of businesses, management buy-ins and buy-outs, share buybacks, complex restructuring, and shareholder/investment agreements. Wilcock has served as the lead adviser on numerous high-profile transactions since joining Flint Bishop, overseeing deals with values exceeding £10m. He has also been instrumental in forging key client relationships for both the Corporate & Finance and wider Deals team. These accomplishments were swiftly recognised by the firm, leading to his promotion to Senior Associate in August 2022. Briony McDermott, promoted to Employment Partner, brings nearly 15 years of experience in employment law to her new role. Her portfolio includes handling litigated matters, addressing complex company reorganisations projects, TUPE and restructures, undertaking education-specific work, and providing invaluable corporate support. McDermott’s significant contributions to the team and collaborative support with other departments, notably Corporate & Finance, Commercial, and Commercial Property, earned her a promotion to Senior Associate in February 2023. Completing the series of promotions, Sam Balmbra now assumes the role of Senior Associate in the Wills, Probate, Tax & Trusts team. Joining the firm as a newly qualified solicitor in November 2019, he has consistently enhanced his technical expertise, handling progressively complex high-value cases, particularly in probate and estate matters, leading to his promotion to Associate in May 2022. Earlier this month, Balmbra was confirmed as a full member of STEP, joining an elite group of internationally recognised professionals known for their expertise in family planning. This addition means Flint Bishop now boasts 4 out of the 14 fully qualified STEP members in the entire Derbyshire region. Flint Bishop Chief Executive Qamer Ghafoor said: “I am extremely passionate about creating a platform for our people to progress within the firm and take responsibility for projects and areas of work that really excite them. It is excellent to see staff achieve long term careers with the firm in line with the leadership team’s growth ambitions.” Ghafoor added: “These latest promotions stand as a testament to the success of our associate and partner promotion programs, which have been instrumental in fostering talent within the firm which has been a significant contributing factor to our recent growth. “Flint Bishop’s position as a leading law firm in the region is a direct result of the continued investment at our Birmingham and Derby offices as we roll out our further strategic growth plans for 2024 and beyond.”

7 subtle ways to make your company culture stand out

Today’s competitive market requires a strong business culture to attract and retain top talent. A prospering, healthy, and pleasant work environment increases worker satisfaction, loyalty, and productivity, but getting there (and staying there) can be difficult. Celebrating “culture cultivation” rather than “fun” requires more than team building or a Christmas party. After being awarded one of the Best Software Companies in the UK 2024 by G2, employee recognition software experts Mo present seven real-world ways to improve business culture. These methods avoid overly interventionist tactics to create an environment where employees feel valued, inspired, and united.

Open up communication

Making work a setting where individuals feel comfortable communicating can boost morale. Whenever possible, foster an environment that values honest feedback. Feedback sessions between employees and management can foster continuous improvement and mutual respect by making employees feel heard and respected, as well as helping management understand their team’s beliefs and motivations. Regular open forums where anybody may discuss workplace culture, projects, and processes can promote free discourse and community belonging. These forums can help people overcome challenges and brainstorm business growth. Your office can also include anonymous suggestion boxes. These, whether digital or physical, are helpful for eliciting people’s perspectives who may not feel comfortable speaking up in public. These suggestion boxes allow staff to voice ideas and issues without fear of being judged or “singled out” from the crowd. Opening communication can boost employee engagement and collaboration, making the workplace more productive and peaceful.

Flexible work arrangements

Today’s workforce values workplace flexibility, and there are many ways to provide it, each with its own benefits. Allowing employees to work remotely, from home or elsewhere can raise morale and reduce stress. Recognising employee needs and preferences promotes a healthier work-life balance. If your business model permits, give your personnel more scheduling flexibility to work when they’re most productive. Employees will be happier and more engaged if they can schedule their work around their obligations, and at times when they feel most inspired and energetic. Work-life balance is crucial to employee health and satisfaction, and various instances of research have shown that workplace flexibility boosts productivity and reduces absenteeism. These types of arrangements can show employees that you trust them and are willing to meet their needs, earning their loyalty and respect.

Professional development investment

Online courses and qualifications are a great way to enhance staff members’ skill sets and knowledge bases. Employers can look to funnel some of their budget into providing memberships to top educational platforms, or paying for online seminars and workshops. Similarly, encouraging mentorship ties inside an organisation can help with knowledge transfer and career development. Employees can learn from more seasoned coworkers and improve their own career navigation through mentorship programmes – what’s more, this is a great way to get staff members engaging with one another in a productive and engaging way that could foster genuine bonds of trust. Giving each employee a learning and development budget empowers them to take charge of their own progress and direction in your company. This money could cover conferences, certificates, and specific training. Give employees the “keys” to their career growth and let them pursue learning opportunities that meet their interests (preferably in a way that suits your business goals).

Recognise success

To encourage and retain your staff, you may want to make efforts to recognise and reward team members for their contributions. There are innumerable ways to do this, and some work better than others. Encourage employees to acknowledge the accomplishments of their coworkers through a peer recognition platform. This helps to create a more positive work atmosphere, and encourages a culture of vocalised gratitude. Meetings on a regular basis or a digital platform might both serve as facilitators for such programmes. Extra vacation days, public recognition, or chances for professional development are examples of non-monetary incentives that can have a big influence. Workers will feel appreciated because these prizes can be personalised to their requirements and tastes, showing them that you, as an employer, recognise and value them as an individual, not just another “cog” in the machine. No matter how big or small, it’s important to celebrate both individual and team accomplishments and milestones. This will raise morale and inspire people to keep working hard. There is a wide spectrum of celebrations, from handwritten messages of gratitude to extravagant team parties. Organisations can motivate their staff to keep performing well and committing to the company’s objectives by establishing a culture that frequently acknowledges and rewards accomplishments in a genuine and meaningful way.

Promote wellness

Workplace wellness programmes should promote employees’ physical, mental, and emotional health. Your employees will be more productive, creative, and happy at work if they lead healthy lifestyles. For the body, offering gym memberships or cash donations encourages staff to be active and healthy, improving wellness and productivity. Ergonomic furniture and tools help reduce physical strain and long-term health issues, showing your commitment to employee well-being. Supporting mental health days, reducing stigma, and enforcing work-hour limitations for all employees helps create a healthy work environment. Companies that emphasise health can help employees find a better balance, which enhances their satisfaction at home and at work and their productivity.

Encourage relationships

Fostering workplace social interactions improves teamwork and employee satisfaction. Your workforce may have a diverse set of values, interests, and qualities, making this a tricky – but by no means impossible – environment to traverse. You can’t force people to like one another, but there are some things you can do to encourage the natural development of social relationships. Lunch-and-learns or interest-based groups can help employees bond without the demands of formal events like a workplace Christmas party. Outside of a structured setting, creating “breakout” spaces for leisure or casual talk can help team members relax and open up, leading to better bonds and more unplanned encounters. Don’t underestimate the power of a ping pong table! Promote a supportive and inclusive workplace to boost morale and belonging. Instead of talking about work, encourage your workers to talk about their personal lives, interests, and ideals to build camaraderie and deeper understanding. Team members should feel valued and included, and generating a welcoming culture can promote a more cohesive and supportive workplace.

Lead by example

Leadership has an enormous effect on company culture. When leaders model the behaviour they want to see filter through their business, they set the tone for everyone to follow. A leader’s dedication to the company’s principles and culture might be best shown by taking the lead in implementing the changes they promote. A leader’s example can motivate followers to do the same, whether that’s through vulnerability, open communication, or taking part in professional development opportunities. A culture of trust and open communication may flourish when leaders set an example by being vulnerable and honest about the struggles they face. When workers feel their opinions matter, they are more likely to voice them. When leaders set a good example, they inspire their teams to do their best work by creating an environment of mutual respect, trust, and constant progress.

Conclusion

In closing, if you want your employees to be happy, stay, and productive, it starts with the creation of a pleasant work environment. From encouraging open communication and providing flexible work arrangements to setting a good example to your staff, all of the tactics discussed in this article aim to improve workplace culture in a genuine and successful way. Businesses should take it slow when introducing new policies and procedures, testing several approaches to see what works best for their employees. By taking baby steps and providing constructive criticism, you may make changes and encourage a growth mindset.

The Access Group appoints new Managing Director of Access PaySuite

The Access Group, a provider of business management software, has appointed Giulio Montemagno as Managing Director of its Access PaySuite division. Giulio takes over from Andrea Dunlop, who will stay with The Access Group and PaySuite division as a non-executive director. With 25 years of extensive general management, operations and strategy experience, Giulio has a distinguished career as a technology executive in payments, financial services and eCommerce.

He has a strong track-record in starting and scaling businesses within fast-growing, tier-1 technology companies and is passionate about delivering exceptional customer experiences and driving continuous innovation at scale.

Before joining Access PaySuite, Giulio was executive vice president of Payments-Platform-as-a-Service at Ingenico. Before that, he held senior leadership roles at Amazon, RetailMeNot, PayPal, and eBay across Europe. He has an MBA from Columbia Business School and London Business School.

Giulio said: “This is an exciting time to be joining Access PaySuite and I am keen to contribute to the Group’s exceptional growth and help propel and deliver success across the division.

“I am looking forward to working with a likeminded team at The Access Group globally to continue to drive innovation on behalf of our customers and partners in the ever-evolving payments landscape.

“I am committed to ensuring that we continue to deliver exceptional service and value to all our customers and stakeholders and look forward to the opportunities ahead.”

The Access Group CEO, Chris Bayne, added: “I am delighted to welcome Giulio as Managing Director of Access PaySuite, he will be responsible for the strategic and operational development of the division and has the skillset, drive and passion to make a great success for both our customers and our people.

“I would also like to take the opportunity to thank Andrea Dunlop for helping build Access PaySuite to the organisation it is today. Her hard work and dedication has laid the foundations for the future of payments at Access PaySuite, and we can continue to build on that.

“I am delighted that she has committed to remaining with The Access Group and PaySuite division as a non-executive director and will be supporting Giulio with both FCA and regulatory support and M&A strategy and we are looking forward to the value she will bring in her new role.”

Rights to offshore wind innovation for sale after administrators appointed

The rights to an innovative product in the offshore wind market, Gravity Tripod™, are up for sale after Michael Roome and Dean Nelson, Business Recovery and Restructuring Partners at PKF Smith Cooper, were appointed as administrators of East Midlands-based OWLC Holdings Limited on 26 February 2024.

OWLC Holdings Limited own the rights to Gravity Tripod™, a unique and internationally patented design for an offshore subsea foundation structure.

Following the appointment of administrators of OWLC Holdings Limited, an accelerated sale of business has commenced with the aim of finding a purchaser for Gravity Tripod™, which management believe can deliver an average of 11-12% reduction in the cost of electricity generated by offshore wind.

The Gravity Tripod™ is a unique design for an offshore subsea foundation structure, requiring little or no seabed preparation.

It uses concrete in place of steel, which allows the Gravity Tripod™ to expand the supply chain and deliver an offshore wind solution that is quicker, cheaper and more environmentally friendly than traditional monopoles or jackets. The patent is registered in a number of key geographies worldwide.

Michael Roome, Business Recovery and Restructuring Partner at PKF Smith Cooper, said: “Our aim is to maximise returns for creditors by seeking a sale of this unique design in the offshore wind market.

“If you are interested in purchasing the company, please contact me as a matter of urgency. We will keep stakeholders and the press informed of any developments as matters progress.” 

Full occupancy reached on Nottingham’s Castlebridge Office Village

FHP have reached full occupancy at Castlebridge Office Village, with the remaining suite secured by Altia Solutions Ltd. The Village is set within Castle Marina and benefits from being situated within 1.25 miles from Central Nottingham with retail and leisure facilities in immediate vicinity. Altia Solutions Ltd secured a self-contained office suite situated on the ground floor and benefited from a generous level of parking set within an ‘in-town’ location. Castlebridge Office Village is occupied by a diverse range of tenants including legal, technological, professional services and more. Initially the property was available over two floors with a floor area of circa 5,000 sq ft. But the demand for this type of office size was scarce due to government implements that have been put in place such as the ‘working from home’ / hybrid approaches. With further advice and discussions with the client, FHP said it was evident that they needed to reduce the size available to attract further enquiries to achieve occupation. Amy Howard, Surveyor at FHP Property Consultants, said: “Castlebridge is an estate I have been working on from the start of my FHP journey, so to achieve full occupancy is a great result, having secured 6 new tenants. It portrays the desire for office space is still apparent and that demand is still there within the market. “If landlord’s are open to spending capital on their properties and listening to the market to improve overall quality of the office space, the demand is still there and tenants will pursue these spaces. “Altia Solutions Ltd have been in the market for several months and viewed numerous properties over this time frame, so not only was it a good result for my client but also great to see Altia secure their new premises and I wish them all the best in their new premises.” Sarah Venn, from Altia Intel Ltd, said: “After diligently searching for alternative office space throughout 2023, we are thrilled to have found the perfect unit to accommodate our needs. Amy Howard and John Proctor’s support and expertise made the entire transaction seamless and efficient. Their professionalism ensured that every aspect of the process was handled with the utmost care and attention to detail. “As Landlords, FHP have proven to be a breath of fresh air – their approachable nature, coupled with their commitment to simplifying processes and addressing queries promptly has made our transition into Castlebridge a smooth and enjoyable experience.”

Streets Chartered Accountants reflects on the Spring Budget

Post Budget Webinar

Today Streets hosted its post Budget webinar in which it provided details of the announcements along with an update on topical issues affecting business clients and private individuals for the new tax year 2024/25.

This presentation was recorded and is now available on demand for those who weren’t able to join live. Click here to catch up.

A Budget built on loss leaders or a leadership that might have lost its way? Was it more ‘Middle Lidl’ than Middle England? The headline grabbing announcement from the Chancellor Jeremy Hunt’s Spring Budget, and perhaps his last before an election, was the 2% cut in rate of National Insurance. This second cut follows a similar cut given in last year’s Autumn Statement and comes with an election looming. Read more.

More families will be eligible for Child Benefit

What has previously been thought to be an unfair system, with eligibility for Child Benefit being withdrawn when one parent earns more than £50,000, now sees a welcome change.Currently, if one partner earns more than £50,000, child benefit starts to be gradually withdrawn, and where the individual earns more than £60,000, they do not receive child benefit at all. Read more.

Guide to The Spring Budget 2024 The 2024 Spring Budget contained some important announcements and confirmed a number of changes planned for the new tax year. Following this, Streets put together a report containing the latest tax and financial information, which is available to download using the link below.

Download now

Expanding your team with staff augmentation services in the UK

Feeling the pinch in your talent pool? Struggling to keep pace with the ever-evolving landscape of technology? Don’t let resource limitations hinder your growth. In the dynamic world of UK business, staff augmentation services offer a potent answer, empowering you to supercharge your team, conquer complex challenges, and embrace cutting-edge solutions. Vodworks, your trusted partner in software and product engineering, unlocks the doors to this game-changing approach. Let’s dive into the exciting world of staff augmentation, exploring its intricacies and unveiling how it can propel your business to new heights. How Staff Augmentation Services Work in the UK Imagine seamlessly integrating pre-vetted, experienced professionals into your existing team – that’s the magic of staff augmentation. Here’s the lowdown: · Clearly define your needs: Discuss your project scope, skill requirements, and desired timeline with a trusted staff augmentation provider like Vodworks. · Matching talent: We leverage our extensive network to find qualified individuals who perfectly align with your needs. We handle the sourcing, vetting, and reference checks, saving you precious time and resources. · Onboarding and integration: We ensure a smooth transition by providing comprehensive onboarding, cultural sensitivity training, and ongoing communication support. Your new team members hit the ground running, seamlessly integrating into your workflow. · Project execution: The augmented team operates under your direct supervision, collaborating effectively and delivering results aligned with your vision. · Flexibility and scalability: Need to adjust team size or skillsets based on evolving demands? No problem! We offer flexible engagement models to adapt to your dynamic needs, ensuring you have the right resources at the right time. Engagement Process · Deep Dive Discovery: Our expert team dives headfirst into your project, understanding your challenges and desired outcomes. Think of it as a collaborative brainstorming session to paint a crystal-clear picture of your needs. · Skills on Point: We meticulously analyze your specific needs and skill requirements like detectives on a mission. This ensures we find the perfect match for your project – no square pegs in round holes here! · Meet Your Dream Team: Forget endless resumes. We present you with top-tier candidates who possess the exact skillset and experience you require, saving you precious time and energy. · Seamless Start, Smooth Sailing: Once you choose your dream team, we handle all the legal intricacies and ensure a smooth onboarding process. No paperwork headaches, just a seamless transition to focus on what matters most. · Project Powerhouse, Ongoing Support: Your augmented team seamlessly integrates with your existing team, becoming a powerhouse for your project. And we don’t just leave you to it – we provide ongoing support throughout the engagement, ensuring everything stays on track and you reach your goals. Legal and Regulatory Considerations · Employment contracts: Ensure compliance with UK employment laws by utilizing clear contracts outlining roles, responsibilities, and payment terms. · Data security: Implement robust data security measures to protect sensitive information and comply with regulations. · Intellectual property (IP): Establish clear ownership of IP rights created during the project to avoid future disputes. Advantages of Staff Augmentation for UK Businesses Staff augmentation unlocks a treasure trove of benefits for UK businesses, propelling them towards success: Flexibility and Scalability Easily adjust your team size up or down based on project demands, avoiding the rigidity of permanent hires. No more overstaffing or scrambling to fill sudden gaps. Access to Specialized Skills Tap into a wider talent pool of highly skilled professionals, finding the niche expertise you need without lengthy recruitment processes. Whether it’s cutting-edge AI developers or seasoned cybersecurity experts, you have access to the best. Cost-Effectiveness Reduce overall hiring costs compared to traditional employee recruitment, avoiding onboarding, training, and overhead expenses. Pay only for the skills you need when you need them. Speed of Hiring Fill talent gaps quickly, accelerating project progress and reducing time-to-market. Don’t let slow recruitment processes impede your growth – get the right people on board instantly. Selecting the Right Staff Augmentation Partner in the UK Choosing the right partner is crucial for a successful staff augmentation experience. Here’s how to find the best fit: Criteria for Selection · Industry knowledge is key: Find a partner who knows your industry inside and out, like a seasoned friend who’s seen it all. They’ll understand your specific challenges and craft solutions that perfectly fit your needs, no generic advice here. · Don’t settle for second-rate talent: Look for a provider brimming with amazing, pre-vetted professionals across all sorts of skill sets. It’s like having a talent magnet that attracts the best and brightest. · Clear pricing is a must: Avoid hidden fees and nasty surprises. Choose a provider with crystal-clear pricing structures, so you know exactly what you’re getting and can budget confidently. Because transparency and cost-effectiveness go hand in hand. · Communication is important: Find a partner who talks straight and listens even better. They should offer ongoing support throughout your journey, keeping you informed and empowered every step of the way. Think of them as your communication cheerleaders. Key Questions to Ask Potential Providers · How do you ensure the quality and skill set of your candidates? Don’t compromise on expertise. · What is your experience working with businesses in my industry? Industry-specific knowledge is invaluable. · What are your onboarding and integration processes? Smooth transitions are crucial for success. · How do you handle legal and regulatory compliance? Ensure peace of mind with a compliant partner. · What support do you offer during the project execution phase? Ongoing support is key for a smooth and successful project. Integration Tips · Clear communication: Establish clear expectations, roles, and responsibilities for both your internal team and augmented staff. Foster a transparent environment where everyone knows their part. · Regular feedback and collaboration: Encourage open communication and collaboration between your team and the augmented professionals. Feedback is a powerful tool for growth and improvement. · Cultural awareness: Be mindful of cultural differences and create a welcoming and inclusive environment for all team members. A diverse and inclusive team fosters innovation and success. · Knowledge sharing: Encourage knowledge sharing between your internal team and the augmented professionals. This ensures smooth project execution and future knowledge retention. In conclusion, by partnering with Vodworks, you gain access to a world-class staff augmentation experience. Our deep industry expertise, vast talent pool, and commitment to client success ensure you have the right resources at your fingertips. Let us help you unlock your full potential and achieve your ambitious goals. Contact Vodworks today to discuss your specific needs and discover how staff augmentation can propel your UK business to new heights.

Emerging opportunities: The business boom in the East Midlands

The East Midlands region is traditionally known for its rolling countryside and historical landmarks. However, it is now making headlines for a different reason: a significant business boom. Entrepreneurs and investors are turning their attention to this area, drawn by its economic resurgence and the diverse opportunities it presents. Let’s explore the sectors driving this growth and offer actionable advice for those looking to capitalise on the emerging opportunities. The Economic Resurgence Of The East Midlands Recent years have seen the East Midlands transform into an economic powerhouse thanks to strategic infrastructure investment, supportive government policies, and a vibrant community of innovators and business leaders. Understanding the region’s economic strengths is essential for anyone aiming to tap into this growth. Networking with local business groups and engaging with regional development programmes can provide invaluable insights and open doors to new opportunities. Sector-Specific Opportunities The East Midlands is not merely growing; it’s diversifying. This diversification provides a fertile ground for varied sectors, offering unique opportunities for astute investors and innovative entrepreneurs. · Digital And Technology: The tech sector’s significance in the East Midlands cannot be overstated. The region is ripe for digital exploration and investment, from bustling tech hubs to innovative startups. Entrepreneurs should consider leveraging local tech incubators and accelerators offering funding and mentorship to nurture digital innovations. · Manufacturing And Engineering: This sector’s evolution from traditional industries to innovation-driven engineering is remarkable. Entrepreneurs looking to enter this space should focus on developing products that solve real-world problems, capitalising on the region’s rich manufacturing heritage. Collaboration with research institutions can drive innovation and give businesses a competitive advantage. · Green Energy And Sustainability: With a global shift towards sustainability, the East Midlands’ green energy sector is flourishing. Entrepreneurs can innovate in renewable energy solutions, waste reduction, and sustainable practices. Partnering with local governments and communities to pilot green projects can pave the way for scalable businesses. Franchise Opportunities: A Gateway To Business Success In The East Midlands Franchising offers a compelling route into entrepreneurship, especially in a growing economy like the East Midlands. For those considering this path, thorough research is paramount. As such, utilise resources like www.franchiselocal.co.uk to help get started. Potential franchisees should evaluate the market demand for the franchise’s products or services in the region, understand the franchisor’s support systems, and assess the alignment of the franchise with their personal and business goals. Networking with existing franchisees can offer real-world insights into the franchise model’s strengths and challenges. Navigating The Investment Landscape The East Midlands’ investment climate is as diverse as its sectors. Success here requires a strategic approach: · Understanding market trends · Identifying sectors with high growth potential · Connecting with local business ecosystems Building relationships with regional investment networks and attending industry events can offer valuable market insights and investment opportunities. The Future Is Here: Innovating For Tomorrow The dynamic sectors within the East Midlands indicate that the region is not just living in the present but also preparing for the future. Entrepreneurs and investors should stay abreast of emerging trends, such as artificial intelligence, biotechnology, and sustainable transport, which are set to define the next wave of opportunities. Emphasising continuous innovation and adaptability will be essential to thriving in the East Midlands’ evolving economic landscape. Ultimately, the future of business in the East Midlands is bright, and for those ready to explore these opportunities, the time to act is now.

Contractor appointed to build new Staveley canal bridge

The Chesterfield Canal Trust has appointed O’Brien Contractors Ltd. to construct and install a new bridge for pedestrians and cyclists over the soon-to-be restored route of the canal at Staveley. This will be the first stage of the Trust’s £6 million restoration project. The bulk of the money is from the Staveley Town Deal, a government levelling up project. The new 38 metre long bridge will take the Trans Pennine Trail across the canal to meet the Arkwright Trail. Later the canal itself will be restored including a new bridge for farm vehicles and a new lock. There will also be a freshly landscaped relaxation area including picnic benches and information boards. This will be carefully planted to encourage wildlife. O’Brien’s will start on site in April and major groundworks will start in May. The bridge will be installed in the summer and there will be a formal opening ceremony in September. Tony Mitchell, Director, O’Brien Contractors Ltd, said: “We are extremely pleased to have been appointed by The Chesterfield Canal Trust to provide the new canal bridge at Staveley. “This prestigious project will be a huge benefit to pedestrians and cyclists all over the region and the restoration of this historic route will benefit the community for many years to come. We look forward to working with the Trust and their team over the course of this exciting project.” Chesterfield Canal Trust Development Manager, George Rogers, said: “This is a big milestone for the Chesterfield Canal Trust, and we are delighted to appoint O’Brien Contractors to deliver this statement structure over the canal. “Installing this bridge will open up the route for future restoration in multiple ways and I am looking forward to seeing it progress over the summer.” Ivan Fomin, Chair of the Staveley Town Deal Board, said: “It’s taken a huge amount of work by the team at the Chesterfield Canal Trust to get to this point and I want to thank them for their efforts and congratulate them on reaching this important milestone. “The expansion of the canal is an important project for the town deal – it will help make the town a more attractive place to visit and provide residents with new outdoor facilities to explore. I look forward to seeing the bridge completed as this will unlock the next stages of this project.” The Trust currently has an appeal to raise £50,000 to go towards the cost of the gates for the new Keith Ayling Lock, named after a former Chair of the Trust.

Banking Hub coming to Moor Market in Kirkby

Ashfield District Council’s Moor Market in Kirkby is set to be home to a new banking hub. Last year, Kirkby in Ashfield was chosen as a location for one of 68 new banking hubs across the UK, owned by Cash Access UK. The banking hubs are shared spaces on the high street that allow customers of multiple banks to deposit and withdraw money, get face-to-face help, and carry out regular banking transactions. They also have a private room available for one-to-one discussions. Ashfield District Council have been working with Cash Access UK to find a suitable location, and now the planning application for the hub in Kirkby has been submitted to the Council. The new banking hub will allow more residents and businesses access to their money, without having to travel out of Kirkby. Cllr Jason Zadrozny, Leader of Ashfield District Council, said: “We are delighted that the planning application for the banking hub at Kirkby has now been submitted. We know that so many residents have struggled with the lack of face-to-face banking in Kirkby since the banks closed, and the banking hub will make a huge difference to people’s lives. “It’s not just residents who will benefit from this hub, our small businesses will also be able to utilise it. This is an exciting step towards the hub opening in Kirkby.”

Nottinghamshire manufacturer sold to Portuguese company

Duke Capital, a provider of hybrid capital solutions for SME business owners, has revealed the successful exit of its investment in Meteor HoldCo Limited, the 100% owner of Fabrikat (Nottingham) Ltd, a manufacturer of street lighting columns and guard rails.

The exit comes three years after Duke’s financing solution enabled Fabrikat’s established management team to become majority equity owners.

Fabrikat is being acquired by Metalogalva – Irmãos Silvas, SA, a Portuguese company in the area of engineering and steel protection with more than 50 years of history and operations spanning across 14 countries and four continents.

Neil Johnson, CEO of Duke Capital, said: Fabrikat is a real success story for Duke and a great case study for why Duke’s capital is a perfect fit for individuals seeking to execute an MBO.

“Our capital allowed long-standing employees of a strong business to step up into large equity ownership positions and in that role, they continued to prove themselves as great stewards of the business, creating value for all stakeholders. In turn, we are pleased to build on our already robust track record of achieving above-average returns on exits.”

Duke had invested a total of £6.2 million in Fabrikat to date.

Paul Allen, CFO of Fabrikat, said: “We would like to thank Duke Capital for buying into our vision in a way which motivated us to drive significant growth in the company. Duke’s capital enabled us to execute the MBO while the team supported us by becoming partners in our growth and success.

“Initially we went through a very competitive process but only Duke Capital’s offer allowed us to keep 70% of the business that we had spent years crafting as the senior management team. And to top it off, we were able to keep control of the timing of the sale and the counterparty to whom we entrust the future of Fabrikat and our employees.”

Training provider moves to larger Chesterfield premises

Skills and employability training provider DBC Training is expanding into larger Chesterfield premises, following successful growth in the town. The organisation will move into new offices at Markham House in the centre of the town, allowing more learning space for the business to deliver its courses. Commenting on the expansion of the business, Luke Brailsford, Senior Performance Manager at DBC Training, said: “As a business we are growing, and we see Chesterfield as a key part of our growth plans. The investment in our new premises supports this, offering more learning space for us to deliver high-quality employment and skills training courses in Chesterfield. “This supports our ultimate aim to support local residents back into employment and to help more employers upskill their workforce through our award-winning apprenticeship service. “We are still in Chesterfield Town Centre, on the top floor of Markham House. There are many benefits to this move, however, key ones being more space and room for the courses we deliver, along with being centrally located and close to partners that we work with.” DBC Training has been delivering employment and skills training since 2000. The business matches skills training to local job vacancies and offers a range of courses to help unemployed people transition into work.

Legal and financial services business moves into Chesterfield’s Northern Gateway Enterprise Centre

A new legal services business has moved into Chesterfield’s Northern Gateway Enterprise Centre. Clearlines is a first for the UK Care market allowing care providers to help their clients as they transition into care by providing them with with an assessment of their legal and financial foundation and offering them an opportunity to mitigate any of the issues that may have arisen in the assessment. The business was founded last year and is part of the W & P Legal Group. W & P Legal specialises in legal services for later life planning. As such, a lot of the firm’s work was helping clients prepare for entering care or helping them transition a loved one into care. From this experience came Clearlines. Tom Ash, Director, Clearlines Solutions LTD, said: “Clearlines is still a new product but we are starting to forge partnerships with national care brands and launching the service with several care providers. As such we have already outgrown our home office. “We feel that the move to Northern Gateway Enterprise Centre is a statement of intent for our new company. We will grow into our new premises, we will contribute to our local community and we will create jobs within Chesterfield. “The location of Northern Gateway Enterprise Centre was our main attraction. Its central location meant that it puts us in the heart of Chesterfield. The proximity to the train station is also a huge benefit. As we welcome colleagues from the rest of the W & P Legal group it means they are just a skip away from our new home.”

Rothera Bray donates over £5,000 to Headway to continue providing vital services to brain injury sufferers

Rothera Bray has recently donated over £5,000 to Headway Nottingham, both in memory of a former colleague and as part of its appeal to raise funds to continue providing invaluable support for brain injury sufferers across Nottinghamshire.

Headway Nottingham is a charity that provides rehabilitation, support, and outreach for people affected by brain injury in Nottingham and Nottinghamshire and is the only longer-term brain injury support service in Nottinghamshire. The charity provides help to individuals who are adjusting to life with a disability following a brain injury and supports them in navigating the world after this trauma.

Due to financial challenges because of the Covid-19 pandemic and the current fundraising landscape, Headway Nottingham faced closure at the end of March 2024. As a result, the charity asked for donations to help it reach its target of £26,000 so that it can continue to operate and provide support and services to brain injury sufferers and their families.

Rothera Bray has close links to the charity, with the firm’s Personal Injury team referring clients who have suffered brain injuries to the charity for additional support and Partner and Head of Personal Injury Greg Almond being a Trustee of Headway Nottingham.

Rothera Bray’s £5,182.24 donation consisted of two donations. £2,682.24 was donated from the firm’s residual balances fund, with a second donation of £2,500.00 made by the firm in memory of Karen McGarvey, a member of staff who died unexpectedly, with her husband and son nominating Headway to receive the donation.

Charlotte Leask, Services Manager at Headway Nottingham, said: “Rothera Bray’s support is already making a tangible difference to the lives of the Nottingham brain injury community. The importance of their generosity and kindness in contributing to our Urgent Appeal cannot be overstated and will produce empowering and life-changing outcomes for an otherwise marginalised and vulnerable group of local people.

“Every 90 seconds in Nottingham and throughout the UK someone is admitted to hospital with an acquired brain injury, but despite this Headway Nottingham remains the only rehabilitation and support service available in our area without a time limit. We are here for as long as each person needs us.

“The potential loss of our charity presented a devastating prospect for those who rely on us, however, Rothera Bray’s support has helped ensure that our invaluable small charity will continue to exist for our current clients as well as the hundreds of people who will need us in the future. We are exceptionally grateful to Rothera Bray for their tremendous support and for recognising the indispensable nature of our wonderful charity.”

Greg Almond said: “As a long-standing supporter of Headway Nottingham we wanted to urgently provide financial assistance so that the vital services Charlotte and her incredible team provide, can continue. We are so pleased they have hit their fundraising target.

“Rothera Bray will continue to provide ongoing support to ensure this amazing local charity can thrive in the future.”

To donate to Headway’s appeal, visit: https://www.headwaynottingham.org.uk/Appeal/urgent-appeal