John Taylor’s Bellfoundry, also known as Taylor’s Bellfoundry or simply Taylor’s, is the last major bellfoundry in the UK and Commonwealth.
Work gets underway to save UK’s last major bellfoundry
Construction works are now underway at Taylor’s Bellfoundry in Loughborough to protect and enhance the Grade II* Listed Bellfoundry buildings and onsite museum, the last of their kind in Britain.
Funded by The National Lottery Heritage Fund and Loughborough Town Deal alongside many others, the project is being led by the Loughborough Bellfoundry Trust working in partnership with the ancient bellfounding firm of John Taylor and Company.
The Trust was set up in 2016 to begin the work of restoring the bellfoundry’s buildings and redeveloping the site’s museum to protect the ancient craft of bellmaking for generations to come.
Taylor’s Bellfoundry – which was built in 1859 just a stone’s throw from Loughborough town centre – has cast more than 25,000 bells located in more than 100 countries.
Bells from the foundry hang in famous landmarks including London’s St Paul’s Cathedral, the Washington National Cathedral in the US capital, Australia’s National Carillon in Canberra, and South Africa’s Cape Town City Hall.
In spring 2022 contractors were invited to tender to deliver the programme of works, with specialist heritage conservation firm Messenger BCR winning out. The Messenger team will work alongside internationally renowned architects Caroe, who drew up comprehensive plans to restore the Victorian site. Other specialist practices involved include exhibition designers Redman Design and museum retail experts cre8.
Phase one of the programme of works is now underway. This includes the stripping out of the existing museum, removing internal walls – which were added to the bellfoundry in the 80s – and replacing the leaking roof. A new lift is currently under construction as are new disabled and baby changing toilets. Major repairs to the roof over the bellfoundry’s main covered yard are also underway.
The museum will be improved and enhanced by increasing its footprint to incorporate a multi-function activity room in the old Victorian laboratory and by reimagining the museum displays to provide an interactive and inclusive experience.
There will be two primary spaces for visitors to explore within the museum. Firstly, a ground floor timeline detailing the history of both the bellfoundry and the art of bellfounding. Secondly, the Patternmaker’s Gallery, which will display a series of objects that have been recovered from existing foundry spaces, located in the original patternmaking workshop.
Throughout the museum visitors will have the opportunity to touch and handle objects, making it an immersive and authentic experience for families, schools, bell enthusiasts and history lovers.
Phase two of the project, which will start in 2024, will see the reconfiguration and improvement of the company archive room, offices, and board room, the last of which will be available to hire as a meeting space for outside organisations and community groups. Further ongoing and exciting developments include the restoration of the original historic entrance to the site, used by generations of the Taylor family, and the relandscaping of the Carillon Courtyard for visitors to explore and enjoy the grounds upon arrival.
Bellfoundry museum director Dr Chrissie Van Mierlo said: “We are thrilled to see work getting underway. This project has been years in the making and will help preserve and protect our historic buildings for generations to come.
“Our vision has always been to create a place where people of all ages can visit and learn about the craftmanship and art of bell making, as well as the history of the Loughborough site. Thanks to generous funders, and National Lottery players, we can now address the most urgent repair and conservation works to bring our vision to life.
“Not only will the project allow us to welcome more visitors into the site, but it will also create additional volunteering opportunities for local residents. Our volunteers are the life and soul of the bellfoundry and we wouldn’t be able to do what we do without them.”
Robyn Llewellyn, director for England, Midlands and East at The National Lottery Heritage Fund, said: “We are delighted to support The Loughborough Bellfoundry Trust in saving the last, purpose-built bellfoundry in Britain. The funding, which has been made possible thanks to National Lottery players, will secure the future of this industry, unique skills, and rich history in a way that everyone can enjoy and be proud of.”
Loughborough Town Deal comprises a number of organisations and people who have come together to deliver over £40 million of investment for the Leicestershire town. The Town Deal secured £16.9 million from the Government’s Towns Fund to boost skills and support the visitor economy and town centre of Loughborough. It is backing 11 projects, including the bellfoundry which it awarded £835,000.
Ashby-headquartered consultancy wins five-year National Grid contract to help achieve UK’s net-zero goals
A property consultancy has been awarded a major five-year contract to provide land agency services on projects that will play a crucial role in driving the UK’s net zero goals.
Fisher German has won a place on a framework contract with National Grid UK Limited.
The firm has been awarded one of just five places on the framework, with the contract commencing in September 2023.
It follows an 18-month tender process in which Fisher German achieved some of the highest marks for technical responses.
The contract will see the firm’s Infrastructure Services division working closely with National Grid UK Land and Property (UKLP) and National Grid Electricity Transmission (NGET) on a range of projects.
These include Development Consent Orders (DCO) and Compulsory Purchase Orders (CPO) for major overhead and underground power line projects, and providing infrastructure planning services and valuation services.
The contract delivery is being led by Matthew Hodgetts who will be supported by a team of more than 32 surveyors.
The primary delivery will be from the firm’s Chester, Knutsford, Stafford, Worcester, Banbury, Ashford, Bedford, Market Harborough, Bury St Edmunds, Ashby, Newark and Doncaster offices, with additional support from the firm’s wider 28-office network.
This will include the whole of Fisher German’s 220-strong infrastructure services team, including planners, surveyors, project coordinators, GIS technicians and technical administrators.
Matthew said: “We are extremely pleased to be awarded a place on National Grid’s framework and be part of the delivery to achieve net zero.
“The excellent feedback we received is a testament to the whole team who worked on the tender for 18 months.
“We have a fantastic existing relationship with National Grid, and the focus on understanding our client’s needs and the trust generated by successful project delivery and knowledgeable advice in the past, along with our drive to improve and adapt, put us in a strong position.
“We are excited to be able to continue our long-term relationship with National Grid and continue to deliver for this valued client.”
Prem Gabbi, director of UK Land and Property at National Grid, said: “Working together with our supply chain, we are embedding a results-driven culture as we strive to continue delivering for our customers and achieving our ambitious targets around net zero and the clean energy transition.
“We look forward to strengthening our relationship with Fisher German as we enable wider National Grid to keep the lights on and the energy flowing for millions of British households.”
“The prodigal son” returns to IDT
Ilkeston managed service provider IDT is welcoming back a previous employee to the fold.Jared Thomson rejoins IDT as account manager, with responsibility for strategic planning for the company’s growing customer base.Jared comes back to IDT after just over a year away. Managing Director Luke Draper takes up the story: “Having originally gone to the market to find a suitable candidate, we were unsuccessful. This almost had us thinking we’d have to compromise our requirements. It was almost a Eureka! moment when discussing what we should do next, when we said: ‘You know who would be perfect?’”Luke says that when Jared left IDT, he made sure the company supported his decision and that he left on good terms.He added: “I knew he only wanted to further his career and I wasn’t going to stand in the way of that. Even though I had a plan for Jared, I hadn’t voiced my plans and goals to him and this new role gave me the opportunity to right that wrong.“This has been a learning curve for me and one that I have used to ensure we are better.”The hire is part of IDT’s drive to ensure all staff show a human touch when dealing with clients – and Jared says he feels like he has come “home.”He said: “This area of dealing with clients face-to-face and finding out their issues within their business, helping them to solve them no matter how big or small, is something I’m greatly looking forward to and have had a keen interest in for a while now.“I’ve always had a knack for identifying issues and providing the best solutions for the client and not just for the benefit of IDT. So it was a real compliment when Luke thought of me for this position.“It’s a perfect opportunity for me to grow as a person and broaden my skill set along with working again with friends rather than colleagues.“It feels like a really big welcome home; it’s always good to know Luke, James, Lawrie and everyone else have always been there for me and have always wanted the best for me. That attitude is something you see in how they look after their customers.”Luke added: “I want to ensure we don’t lose the part of the business that makes us unique and human. I know this will help us provide a better service to our customers by being more proactive and responsive to their needs. “With Jared’s technical background and skill set we believe he will help us identify areas where we can improve our services and make sure that we are doing everything we can to meet our customer’s needs. Our goal is to provide yet another value-added service to our customers.“Jared’s already hit the ground running and made such a positive impact in the short space of time he’s been back. The prodigal son returns.”
Burton tattoo business grows into larger premises
An established Burton tattoo studio has moved into new premises in a prominent location within the town centre.
The corner premises forms part of the Abbey Arcade development, which is situated adjacent to Burton & South Derbyshire College and Coopers Square Shopping Centre. The ground and upper floor unit provides 1,015 sq ft of retail space.
The new tenants Outsider Art Tattoo Studio have been established in the town since 2010. They were formerly based on New Street and opened their new doors on Friday 5 May 2023.
Kaylee Osborne from Outsider Art Tattoo Studio said: “Over the years our team has expanded, and we outgrew our New Street studio. The Abbey Arcade building is an ideal location for passing trade, which is conveniently located close to the college and also has plenty of parking.
“Our move took quite a while as we had to apply for a change of usage with the council. The building had been empty for quite a while, but we managed to turn it around quickly and open within just four weeks.
“All the staff at Rushton Hickman were so helpful and supportive, it was reassuring to know that if we ever came over any issues or problems they were always on hand with advice and support.”
Agency surveyor Taylor Millington added: “Its great news to see a Burton-based company move into new larger retail space which should help them continue to grow. The affluent town centre has exciting opportunities to attract national and new independent occupiers.”
New delivery partnership to create affordable Nottinghamshire homes
Contracts have been signed in a deal that will see Nottingham Community Housing Association’s (NCHA) Pelham team deliver 68 new homes for Tuntum Housing Association.
A mix of new-build and renovations, the homes will be developed across Nottinghamshire in the next five years. Pelham will deliver architectural, project management and development services to deliver the contract.
Plans are already underway for a third of the new homes, with all 68 due to be complete by March 2028.
Richard Renwick, Chief Executive of Tuntum Housing Association, said: “We have worked on and off in partnership with NCHA since we were established 35 years ago. This is the latest phase of our development programme through the Blue Skies Consortium and NCHA. We look forward to these new homes being completed to match the criteria laid out in our Development Strategy.”
Financed by Tuntum and Homes England, these homes will contribute to NCHA’s new homes delivery quota as part of their SP2 Strategic Partnership to deliver new affordable homes across the East Midlands and East of England.
Allan Fisher, director of development and assets at NCHA, says: “As members of the Blue Skies Consortium, NCHA and Tuntum have been working together on affordable home development for many years.
“This new contract cements Tuntum as a trusted delivery partner under our Strategic Partnership with Homes England. I look forward to seeing the new homes complete and providing much needed, affordable accommodation for people in need across the county.”
OMS joins sponsor line up for the East Midlands Bricks Awards 2023
OMS has joined the sponsor line up for the East Midlands Bricks Awards 2023, backing the Most Active Estate Agent category.
Speaking with Business Link, a spokesperson for OMS said: “OMS are delighted to be sponsoring the Bricks Awards again this year, an annual East Midlands event.
“It is wonderful to see and hear about all of the nominations within the awards and how they have made a great impact on the area with their work and projects completed and we are proud to be a part of it.”
The awards, which will take place on Thursday 28 September at the Trent Bridge Cricket Ground, celebrate the outstanding work of those shaping the landscape of our region, recognising development projects and people in commercial and public building across the East Midlands – from offices, industrial and residential, through to community projects such as leisure schemes and schools.
Nominations are now OPEN for East Midlands Business Link’s annual Bricks Awards.
To nominate your (or another) business/development for one of our awards, please click on a category link below or visit this page.
To be held at:
“It is wonderful to see and hear about all of the nominations within the awards and how they have made a great impact on the area with their work and projects completed and we are proud to be a part of it.”
The awards, which will take place on Thursday 28 September at the Trent Bridge Cricket Ground, celebrate the outstanding work of those shaping the landscape of our region, recognising development projects and people in commercial and public building across the East Midlands – from offices, industrial and residential, through to community projects such as leisure schemes and schools.
Nominations are now OPEN for East Midlands Business Link’s annual Bricks Awards.
To nominate your (or another) business/development for one of our awards, please click on a category link below or visit this page.
Award categories include:
- Most active estate agent
- Commercial development of the year
- Responsible business of the year
- Residential development of the year
- Developer of the year
- Deal of the year
- Architects of the year
- Excellence in design
- Sustainable development of the year
- Contractor of the year
- Overall winner
Book your tickets now
Tickets can now be booked for the awards event – click here to secure yours. The special awards evening and networking event will be held on Thursday 28 September 2023 in the Derek Randall Suite at the Trent Bridge County Cricket Club from 4:30pm – 7:30pm. Connect with local decision makers over canapés and complimentary drinks while applauding the outstanding companies and projects in our region, and hear from Mike Denby, Director of Inward Investment and Place Marketing at Leicester City Council, our keynote speaker. Dress code is standard business attire. Thanks to our sponsors:
To be held at:
Directors’ remuneration, salary versus dividend, food for thought for 2023/24: by Clare Slattery, tax director at Streets Chartered Accountants
Clare Slattery, tax director at Streets Chartered Accountants, considers the most tax efficient salary for directors.
For many years, director shareholders in limited companies have often been advised to take a small salary, at a rate to retain access to state pension credits and other benefits, and then supplement their income using dividends. Looking at the individual and the company together, this is a very tax effective route.
As the gap grew between the Personal Allowance for Income Tax and the Primary Threshold, where National Insurance Contributions (NIC) are paid by employees, debate has grown over the most tax efficient level of salary with most directors still taking a salary at a level where they don’t pay any contributions but receive the credits.
Many of you will remember the turmoil of the changes to NIC during the 2022/2023 tax year but 6 April 2023 saw new rates coming in and hopefully some stability.
The main change going forwards is that the Primary Threshold has been aligned with the Personal Allowance so a salary of £12,570 may now be paid with usually no deductions being made. Depending on the other income of the director, there could be no change to their usual tax liabilities.
However, the level of salary at which a company pays employer’s NIC has remained at £9,100 per year and so, if the salary is increased to £12,570, a liability of £478.86 will arise for the employer.
Although an additional cost on the face of it, the additional Corporation Tax savings will still result in a net saving assuming the dividend is reduced by the same amount.
With a Corporation Tax rate of 19%, the savings can be minimal but with the new rules applying for those from 1 April 2023 increasing the tax rate for some companies to 25% and, in certain circumstances, an effective tax rate of 26.5%, the savings are greater.
Furthermore, these additional NIC costs for the company could be covered by the Employment Allowance thus further increasing the savings.
If eligible, this allowance covers the first £5,000 of employer’s NIC. In order to claim the allowance, the employer must have at least one employee (not the director) or two directors on the payroll, so any company with only one director on the payroll is not able to claim the allowance.
There are other factors to take into consideration, such as other income received by the director, but it is worth considering giving yourself a pay rise!
See this column in the May edition of East Midlands Business Link Magazine here.
Leicester-based Blue Light Card wins Publisher of the Year at PMA
Blue Light Card, the discount provider for emergency services, NHS and social care workers, has been named Publisher of the Year at the 17th edition of the Performance Marketing Awards.
The annual awards seeks to showcase the industry’s most innovative and groundbreaking campaigns, teams and companies, with Blue Light Card scooping the award for Publisher of the Year thanks to its focused delivery of campaign results.
Now partnered with over 17,500 retailers, including big-name brands such as Spotify, Toby Carvery, Hotels.com, Cineworld, Sky, EE and Halfords, Blue Light Card saw an increase in sign-ups from 2.39 million to over 3 million in 2022 and saved its members more than £250m in total.
In the last 12 months, Blue Light Card pushed itself to deliver even greater results. It increased its focus on data, leveraging member data to maximise results for its publishers through targeted and tailored email campaigns.
It enhanced its app and website to streamline the user experience, and provide more support for publishers to engage their audience. Utilising its strong member-base helped the team to organise events that provided unique sale opportunities for its publishers. Not only this, it developed its workplace culture, to increase employee engagement and cultivate a motivating environment.
For the Performance Marketing Awards judging panel, Blue Light Card was a standout entrant in this category. Comments from the judges included: “Great testimonials and impressive campaign results. The company’s continued innovation and use of data have significantly enhanced its service.”
Commenting on the win, Ross Hall-Galley, commercial director at Blue Light Card, said: “It’s absolutely fantastic to have been awarded Publisher of the Year. It’s truly a testament to the hard work of the team. We’ve had a massive growth journey over the past few years. Big thank you to everyone who works in the business, all of our partners, all of our members.”
Offering advice to other publishers looking to enter the space, Alex Dalby, head of partner acquisition at Blue Light Card, said: “The main thing for us is getting back as much data as possible from the partners, and giving out as much as possible to work on the strategic relationship.”
Work gets underway on new trade park in Long Eaton
Work is underway on a new scheme in Long Eaton, Derbyshire, that will see the development of a new Lidl and Wickes store in the town.
IMA Architects (IMA) is working with Clowes Developments to provide all architectural services and act as Principal Designer on the scheme. The company will work alongside Millward Consulting Engineers and Roe Developments to deliver the site, known as Stadium Trade Park.
The 1.68-hectare Stadium Trade Park will be built on a brownfield former industrial site that has been derelict since 2014, located just off Nottingham Road. Completion is expected next year and once finished, the site will feature a new Lidl and Wickes stores, car parking for 157 vehicles, a service yard and all associated boundary treatments and landscaping. The site will also bring new employment opportunities to the area.
Marc Freeman, director at Clowes Developments, said: “We are delighted to welcome both Wickes and Lidl GB to Stadium Trade Park. The site has been in the planning stage since 2018, so it’s great that we are now up and running on the build. We expect both the new Lidl and Wickes stores to be very popular with the local community once they are complete and bring economic benefits to the town.”
Joe Travers, associate director at IMA Architects, said: “This is our latest project with Clowes, and we are enjoying regenerating this site which has been derelict for so long. Given the close proximity of residents, we have been considerate to their needs and our plans include additional landscaping, boundary treatments and acoustic mitigation measures to improve aesthetics and to ensure the scheme does not adversely impact local people.”
Sarah Tait, property director at Wickes, said: “We’re thrilled to be expanding our Wickes store in Long Eaton, Stadium Trade Park. The masterplan of the site and the fact that we can be involved in the design stage meant we could develop a location that perfectly suited our needs, and we are looking forward to opening the store in early 2024.”
Lidl GB’s regional head of property, Dominic Bryan, said: “We are delighted to be part of this development and looking forward to bringing our high-quality produce at the best possible value to those in the local community.”
Fastest rise in East Midlands business activity since May 2022
The headline NatWest East Midlands PMI® Business Activity Index – a seasonally adjusted index that measures the month-on-month change in the combined output of the region’s manufacturing and service sectors – posted 51.5 in April, up slightly from 51.2 in March.
The latest data signalled a marginal rise in output at East Midlands private sector firms. Nonetheless, the rate of expansion in activity was the fastest since May 2022. Greater output reportedly stemmed from increased new order inflows and further upticks in client demand. That said, the pace of growth was slower than the UK average, with only Wales registering a weaker rise in activity.
East Midlands private sector firms signalled a third successive monthly upturn in new business during April. Companies linked the expansion to greater demand from existing clients and the acquisition of new customers. That said, the rate of growth slowed to only a marginal pace. In fact, of the 12 monitored regions, only Northern Ireland registered a slower increase in new orders.
April data signalled a strengthening in business confidence across the East Midlands private sector. Output expectations improved to the highest since February 2022, with the region’s companies more upbeat about the outlook for output over the coming 12 months than the UK as a whole. Hopes for greater client demand, investment in marketing and new product development spurred optimism.
Stronger business confidence was broad based, with manufacturers more upbeat than service providers.
Private sector firms across the East Midlands registered a renewed rise in employment during April. The upturn was the third in the last four months, with the rate of job creation moderate overall. Higher workforce numbers were often attributed to greater business requirements following increased new orders.
Of the 11 monitored UK regions that signalled growth in employment, only the North East recorded a slower uptick than the East Midlands.
The level of outstanding business at East Midlands firms continued to contract in April, thereby extending the current sequence of decline to seven months. The rate of decrease was strong overall and the fastest in 2023 so far. Companies noted that sufficient capacity to process incoming new business allowed them to work through their backlogs successfully. The decline in work-in-hand was in contrast to the UK trend which signalled unchanged levels of incomplete business.
East Midlands firms registered a marked rise in input costs at the start of the second quarter. Input prices increased following reports of greater raw material, supplier and wage bills. Nonetheless, the rate of cost inflation slowed again to the weakest since February 2021. The pace of increase was also slightly softer than the UK average.
Manufacturers and service providers recorded slower upticks in cost burdens, although the latter saw much sharper increases in business expenses.
April data indicated a renewed uptick in the rate of output charge inflation at East Midlands firms. The rise in selling prices was marked overall and sharper than the series average. Hikes in output charges were commonly linked to the pass through of higher costs to clients.
The pace of charge inflation was the second-slowest in two years, despite being broadly in line with the UK average.
Rashel Chowdhury, NatWest Midlands and East Regional Board, said: “East Midlands firms signalled a sustained upturn in output during April, as a further rise in new orders supported total activity.
“Increased demand spurred firms on to expand workforce numbers, and the rate of job creation was the fastest since last October. In turn, companies were more upbeat in their expectations for the coming year as business confidence reached the highest in over a year.
“Inflationary pressures remained marked, however. Although firms noted a softer rise in cost burdens again, there was a renewed acceleration in charge inflation which is likely to add strain to already challenged customer purchasing power.”
New South Derbyshire business grant scheme launched
South Derbyshire District Council has launched a new grant scheme for businesses, backed by the UK Shared Prosperity Fund and Rural Economic Prosperity Fund.
The grant scheme aims to encourage business development and job creation by supporting private investment in growth-enhancing activities.
Grants will be targeted at smaller businesses, helping them to increase productivity, purchase equipment, introduce new processes or techniques, start or grow their exports, or introduce new products or services.
The grant scheme aims to enhance business resilience, stimulate enterprise and innovation, enable businesses to access new markets, and encourage green growth.
Grants can part-fund new capital or revenue investment that businesses would like to undertake in South Derbyshire prior to 31 December 2024.
The first competitive call for Expressions of Interest will close on 30 June 2023. Following this, if funds remain available, grants will be offered on a first come-first served basis.
25 jobs saved as Hollywood Monster acquires Sygnet Group
Hollywood Monster, the printing and signage contractors, has acquired Sygnet Group. The acquisition will mean the entire Sygnet Group workforce will retain their employment, saving 25 jobs in total.
Hollywood Monster is already the largest wide format printing and signage contractor in Birmingham. Now, as a leading trade contractor in the UK, the combined business has 65 employees and a turnover of £12 million, with the capability to print over 15,000 sq m of high-quality, sustainable signage per day.
The Midlands-based company supplies to some of the world’s most high-profile brands and events, as well as exhibitions at London Excel and Birmingham’s NEC. Operating as a trade supplier, this latest development will enable the business to expand its offering to its trade partners, further still, drawing on Sygnet’s extensive permanent contract experience within property, construction, events, exhibitions, and retail.
The new addition to Hollywood Monster will continue to trade from its site in Leicester as Sygnet Fabrications and its branding will undergo an update, with a new logo and website already under development. It will continue to provide bespoke solutions such as totems, wayfinding, and retail and corporate signage, as well as rollout programmes, under the leadership of Hollywood Monster.
Tim Andrews, chairman at Hollywood Monster, says: “This is an exciting time of growth for Hollywood Monster, and we’re delighted that Sygnet, who has contributed so positively to the print and signage industry over the last 45 years and who share our values, can continue to deliver quality, cutting-edge projects as Sygnet Fabrications.
“We are especially pleased that the acquisition will lead to the retention of 25 members of staff, who have tremendous knowledge of the industry and have shown unwavering loyalty throughout their time at the company.
“Like Hollywood Monster, Sygnet started as a family run business who work tirelessly to meet the needs of its customers, and its approach to innovation and the production of quality products makes it a perfect fit as we continue to grow to become one of the largest trade printers in the UK.
“We will be investing a significate amount in the business over the next few years, and we are delighted to welcome the Sygnet team into the fold as we work together to deliver impactful and sustainable results to our customers.”
Sales dip at Eurocell
Sales have dipped at Eurocell, the manufacturer, recycler and distributor of window, door and roofline PVC products, in the first four months of 2023.
Down 2% compared to “a very strong equivalent period in 2022,” the company has been impacted by weakness in both the repair, maintenance and improvement (RMI) and new build markets.
Meanwhile the firm has continued to experience cost inflation, particularly for electricity, and though PVC resin prices have fallen back slightly this year, they remain volatile, while feedstock prices for Eurocell’s recycling plants remain significantly higher than the comparative period in 2022.
It comes as the Construction Product Association’s (CPA) latest forecast, published earlier in May, reaffirmed a reduction in the RMI market of -9% for 2023 (unchanged from the January CPA update), but now predicts a further decline in new build to -17% (previously -11%), before both markets recover in 2024.
Taking the above factors into account, Eurocell now expects adjusted profit before tax for 2023 to come in below current market expectations.
It also anticipates a heavy weighting towards the second half of 2023 for sales and profits.
East Midlands businesses believe in ‘Brand Britain’
As the UK increasingly looks abroad for trade deals and investment opportunities, mid-market businesses in the East Midlands confirm that they are confident in the international appeal of British products and services.
In Grant Thornton’s latest Business Outlook Tracker survey, three quarters of the business leaders in the East Midlands (75%) said that Brand Britain is helpful to UK firms when trading internationally.
This confidence in the nation’s overseas perception was markedly higher in the East Midlands compared to the national average of 66%. This may be explained by the fact that 75% of the region’s business leaders believe the East Midlands has an effective and consistent strategy to attract global investments.
The survey showed that Britain’s ability to host large events with global audiences has helped give the nation a strong brand among international markets. 71% agreed that events such as this week’s Eurovision have given Brand Britain a global boost.
Alongside notable events and regional strategies, domestic politics has influenced how the UK is viewed in other countries. When questioned about the impact of Brexit, almost three quarters (73%) agreed that it had strengthened Brand Britain and only 14% disagreed.
The positive view of Brand Britain aligns with the fact that businesses have international growth high on their agenda. In the survey, 76% of respondents in the East Midlands said they would invest either more or the same in international growth over the next six months.
James Brown, Managing Partner in the East & Central region at Grant Thornton UK LLP, said: “The appeal of Brand Britain has always been strong and it’s great to see that East Midlands business leaders recognise it as a strong card they can play to achieve international growth. While not taking place in our region, events like Eurovision really help draw attention to the UK and provide an opportunity to showcase the nation’s capabilities on a global stage.
“It’s also really exciting that Nottingham and Derby may be home to one of the government’s proposed new investment zones, which could be pivotal in boosting productivity and growth and helping our region build its international reputation further.
“That’s not to say that international expansion is easy, as it involves a lot of careful planning to navigate customs and trade agreements. It’s important to understand these complexities and to have the right information, structures and support in place.”
East Midlands manufacturer fits out new £18m primary school campus
A new £18m primary school campus has been fitted out by Mansfield-based Deanestor, working with main contractor Morgan Sindall Construction. The new Prestwick North Education Campus has replaced two primary schools and was delivered for South Ayrshire Council.
Deanestor fitted out 125 rooms across the campus based around 42 room types. These were designed to create inspiring spaces where students can socialise, learn and flourish and include 22 classrooms, flexible learning zones, multi-purpose hall, sports hall, drama studio, and reception area.
The fitted furniture manufactured by Deanestor – primarily storage units, shelving, and worktops – were finished in maple as part of the biophilic design strategy which uses a mix of natural tones to reflect the local landscape.
Deanestor installed more than 1,200 items of loose and fitted furniture for this project, from storage space to white goods, tables, chairs, staging, dispensers, and whiteboards.
Designed by BDP, the campus will accommodate more than 800 pupils who will benefit from a wide range of spaces for teaching and learning, such as interactive play areas, an early years’ centre, outdoor classrooms, and first-class sports facilities.
William Tonkinson, Managing Director of Deanestor, said: “We are very proud to have been part of the team responsible for this fantastic new campus which was completed on budget and to the highest quality standards.
“I am pleased to report that we have now been awarded a second school campus fit out contract by Morgan Sindall Construction, to the value of £1.7m, working once again with South Ayrshire Council, hub South West, and BDP.”
Councillor Stephen Ferry, South Ayrshire Council’s Portfolio Holder for Education, said: “We are committed to providing children and young people with the very best possible start in life. Prestwick Educational Campus will provide a modern and engaging environment for learning and will ensure pupils can thrive throughout their years at the school.”
Michael Ross, Chief Executive of hub South West Scotland, said: “We are incredibly proud to have led the delivery of this project for South Ayrshire Council which was completed early and on budget. The Prestwick Campus was a real team effort and a huge well done goes out to all partners involved who have gone above and beyond, delivering the project to the highest quality standards.”
Barwood Capital eyes growth with new business development manager
Towcester-based Barwood Capital (Barwood) has promoted investor relations and marketing manager, Hayley Gordge, to the newly created role of business development manager, as it looks to further grow its investor base.
Taking a lead role in the fund raising and investor relations team, Hayley will be seeking new investors for Barwood’s diverse range of regional property funds and vehicles for both commercial and residential opportunities.
“Having been with Barwood for over 10 years, I have a strong relationship with our existing investors and a wealth of experience to bring to the role. I believe in our mission of generating strong and sustainable growth by investing responsibility in UK regional real estate,” said Hayley.
Hugh Elrington, Managing Director at Barwood, added: “Hayley has proved to be a valuable member of the team as we’ve grown the business over the past decade, and is perfect to help us expand our investor network as we continue to explore real estate opportunities in the UK regions where we can bring real added value.”
Hayley’s new position at the company comes soon after returning from maternity leave with her second child.
“Supporting members of the team who are parents is an integral part of our company culture,” she adds. “In a world where so many parents are often overlooked by their employers for promotion after taking a career break, with the assumption they aren’t committed, I am proud to say that Barwood is not one of those companies.”
New Nottinghamshire office for project management firm
Consultancy firm Bentley Project Management will soon take up a new home at Ruddington Fields Business Park following the completion of works to revamp the space during the summer.
The firm, which is currently based in Lockington in Derbyshire, has taken some 5,278 sq ft of office space at Discovery House with plans to relocate during the summer months following a transformation being led by Arc Business Interiors.
Managing Director Jonathon Bentley, said: “2023 is an important year for us – we celebrate our 10-year anniversary in a few weeks’ time, and we have been taking the time to consider our strategy for growth as we move into our second decade with exciting plans to take the business forwards.
“Our new office location plays a key role in those plans and we are really looking forward to making the move once the transformation is complete later this year. We’re working with the team at Arc Interiors at the moment to breathe new life into the space and create a workspace that reflects our ethos which is something we are really excited about.”
Work to revamp the space at Discovery House has now begun and will include a range of sustainable design elements including the use of recycled carpets throughout – with the existing flooring being recycled – and elements of biophilic design throughout.
The open floor plan will provide collaborative workspaces and meeting areas, social spaces as well as quiet ‘pods’ for meetings.
Andrew Hobson at Arc Business Interiors said: “We are really pleased to be working alongside Bentley to deliver their vision for a modern and creative office space that really supports its ambitious plans over the coming months and years. This is a real team effort and we are looking forward to seeing the concepts coming to life.”
Thomas Szymkiw of FHP oversaw the deal on the behalf of the landlord, Capita. He added: “I am delighted to have assisted Bentley Project Management with their relocation and expansion at Discovery House. The building will provide them with a stunning office in beautiful surroundings – close to Rushcliffe Country Park and all the fantastic amenities the town of Ruddington has to offer.
“It was a pleasure to work with both landlord and tenant on the transaction and I wish the team at Bentley all the best of luck for the future.”
Bank of England raises interest rates to 4.5%
The Bank of England has raised interest rates from 4.25% to 4.5%, with inflation anticipated to stay higher for longer than previously expected.
The 12th successive increase sees rates sit at their highest level since the 2008 financial crisis.
The Bank is now expecting the inflation rate (currently at 10.1%) to be over 5% at the end of the year, rather than below 4%, as forecast in February, thanks to high food prices and a resilient job market.
The Bank’s official inflation target is 2%.
Martin Beck, chief economic advisor to the EY ITEM Club, reacted: “The Bank of England’s approach since late 2021 of consistently increasing interest rates continued this month. A 7-2 majority on the MPC voted to raise Bank Rate by 25bps to 4.5%, adding to the most significant tightening in monetary policy in over 30 years and lifting the policy rate to the highest since October 2008.
“In the view of the majority on the MPC, another rate rise was justified by an economy more resilient than expected, persistent strength in domestic price and wage setting, and a tight jobs market. The impact of the first factor was revealed in the biggest upgrade to growth forecasts in the MPC’s history. Thanks in part to further falls in wholesale energy prices, previous predictions of a prolonged recession have been revised away and the Bank of England now expects the economy to expand 0.25% this year and 0.75% in 2024, versus declines of 0.5% and 0.25% in its last forecast in February. That said, the Bank of England’s forecast for growth next year is still below the latest consensus of 0.9%.
“With the latest rise in Bank Rate widely expected, the big uncertainty in advance of the MPC’s latest decision was the message the committee would send about the likelihood of yet more rate increases in the months ahead. On that score, the MPC kept the door open to more tightening if inflation proves “persistent”, retaining the data-driven approach it has set out in recent meetings. And there was no sign of push back against current market interest rate expectations, which, in advance of May’s meeting, saw Bank Rate peaking at 4.75%-5% later this year.
“The EY ITEM Club is warier about expecting further increases in Bank Rate. Granted, the Bank of England thinks inflation will fall less rapidly than in its last forecast, mainly due to an assumption of higher food price inflation, with the Consumer Price Index (CPI) measure predicted to be just above 5% at the end of this year. And the Bank of England still sees significant upside risks to the inflation outlook from “second round effects” of high inflation feeding into domestic prices and wages.
“But there’s now a lot of monetary tightening in the system, and the impact on activity and prices comes with a lengthy lag. The Bank of England’s own estimate is that only a third of the impact of rising rates has yet been felt by households. And the Bank’s central forecast shows inflation falling well below the 2% target during 2025. Since the Bank of England targets headline inflation, it will be increasingly difficult to present a justification for more rate rises while also forecasting a substantial undershoot of the inflation target.
“What’s more, the next couple of months are likely to bring a significant decline in headline, core and services inflation, as lower energy prices push down headline inflation and, indirectly, weigh on underlying inflationary pressure. This should further depress inflation expectations among the public, feeding through into lower wage demands, constraining businesses’ ability and willingness to put up prices.
“But the hawkish skew of today’s announcement, with upgrades to growth and inflation forecasts, suggests one more rate rise wouldn’t be out of the question. And if the Bank of England’s expectation of greater stickiness in inflation proves true, the prospect of rate cuts may be delayed until well into 2024.”
Greater Lincolnshire and Rutland to showcase £1bn of investment opportunities at UKREiiF
Over £1bn of investment opportunities in Greater Lincolnshire and Rutland will be showcased by a collaborative inward investment team at national investor forum UKREiiF.
Representatives from Lincolnshire County Council (LCC), Greater Lincolnshire Local Enterprise Partnership (GLLEP) and Team Lincolnshire – a public and private sector group of Lincolnshire ambassadors – are attending the event in Leeds next week (16 to 18 May).
In its second year, UKREiiF is set to attract more than 6,000 delegates from the property industry, with more than 250 UK local authorities in attendance over the three-day event.
The Greater Lincolnshire and Rutland inward investment team has ambitious plans for the region and will be sharing investment prospects across its 10-strong sector proposition, including advanced engineering and manufacturing, visitor economy, defence, health and life sciences, digital tech, commercial and residential development, and a particular focus on agri-food, low carbon energy and logistics.
Investment opportunities across the region include the South Lincolnshire Food Enterprise Zone, Humber Freeport, hotel sites ready for development, land earmarked for housing, multiple business centres and commercial space and more.
Andy Gutherson, Executive Director of Place at Lincolnshire County Council, said: “We saw great value from our attendance at UKREiiF last year and with the event set to be even bigger this year, we need to seize the opportunity to champion our region on a national stage once again.
“We are focussed on targeting investors, developers and organisations that can help drive forward our key sectors and our work at the event will contribute towards growing our Greater Lincolnshire and Rutland economy and to create new jobs.”
The lifestyle in Greater Lincolnshire and Rutland will also play a key part in the team’s promotion of the region as a place to live, learn, work and invest.
Tony Reynolds, Inward Investment Manager at Lincolnshire County Council, adds: “UKREiiF is a fantastic platform for LCC, GLLEP, Team Lincolnshire and our local district councils to speak directly to investors about the unique opportunities we have to offer. Conversations had and connections made at these events are incredibly valuable and make a positive and far-reaching impact on our local economy.
“Collaboratively, and as part of Midlands Engine, we will be flying the flag for the region as the place to live, learn, work and invest in and with a busy diary of meets, I’m looking forward to what the team and I can cultivate for Greater Lincolnshire and Rutland.”
Lincolnshire excels in food processing and agri-tech and was chosen as one of the Government’s manufacturing zones. This followed growth deal grants of £18 million, including £5.1 million for South Lincolnshire Food Enterprise Zone and £2.4 million for University of Lincoln’s Centre of Excellence in Agri-food and Technology at Holbeach.
Simon Wright, Regeneration and Portfolio Manager at Lincolnshire County Council, said: Greater Lincolnshire and Rutland is a place of space and ambition and we’re looking forward to presenting a number of transformational opportunities to investors at UKREiiF, including our South Lincolnshire Food Enterprise Zone.
“This state-of-the-art facility in the heart of the UK Food Valley provides work space, connections and support for SMEs in the food manufacturing and agri-food tech sectors, to enable growth, innovation and collaboration. This scheme alone provides multiple impressive real estate opportunities for investors.”
During UKREiiF, Team Lincolnshire, Knights and Lindum will be co-hosting a reception for ambassadors and guests on 17 May, with over 100 attendees expected. Those interested in attending can email teamlincolnshire@lincolnshire.gov.uk
Pall-Ex raises over £40,000 for veterans charity
Pall-Ex is celebrating Military Awareness Month by achieving an outstanding fundraising milestone, donating over £40,000 for veteran’s mental health charity, Combat Stress.
Pall-Ex partnered with Combat Stress in 2019 to raise money for ex-service men and women dealing with mental health issues, including Post Traumatic Stress Disorder (PTSD), anxiety and depression. The charity provides specialist treatment for veterans with complex mental health issues related to their military service.
It can be difficult to understand for people who haven’t served in the Armed Forces. But everyday sights, sounds and smells can easily transport a veteran back to a time of conflict.
Whilst the smell of a BBQ could take someone back to memories of summer, for veteran Brian, it provides an unwelcome reminder of evacuating guardsmen off a burning ship in the Falklands.
Giving our ex-servicemen and women the right support is something Pall-Ex is extremely passionate about. It has been busier than ever raising money to support Combat Stress, this year alone raising over £6,000 through Stand-up bingo at its annual awards event and by taking part in Combat Stress’ March in March. This means the company has now raised £42,500 to date.
The money raised could fund 340 appointments with a psychologist, 580 one-to-one peer support sessions, or enable 1,500 calls to the 24-hour helpline provided by Combat Stress.
Pall-Ex’s commitment goes further than its fundraising efforts. Last year, the company was awarded gold for the Armed Forces Covenant, and it is now aiming to get at least 50 of its members to sign the pledge at its annual conference.
Employees at Pall-Ex also receive additional benefits. Armed Forces personnel receive 12 days extra annual leave for reservists’ duty and an additional seven days for cadets to attend training/camp.
Kevin Buchanan, Pall-Ex Group CEO, says: “We are always striving to support military personnel, past and present. Alongside our fantastic charity partnership, we also guarantee veterans an interview for any of our jobs they match the skillset for, considering their military skills and qualifications.”
The company also considers the families of people in service. He continues: “We make reasonable holiday adjustments for spouses, partners and family members before, during, or after a service persons overseas deployment to allow them time to spend with their family.”
