100 jobs to be created as fried chicken restaurant plans to open drive-thru at £30m mixed-use development in Nottingham
University of Nottingham donates research ambulance and supplies to support those living in Ukraine
North Northants allocated £1.1m of funding for rural communities and businesses
- support new and existing rural businesses to develop new products and facilities that will be of wider benefit to the local economy. This includes farm businesses looking to diversify income streams
 - support new and improved community infrastructure, providing essential community services and assets for local people and businesses to benefit the local economy
 
Scenariio signs up to global consortium to shrink firms’ carbon footprint
Speculative North Derbyshire business park under construction
Planning granted for Langley Mill industrial scheme
Investment means TEK Seating is a cut above the competition
Housebuilder completes construction at Waltham on the Wolds development
Develop Training invests £500k to upgrade Derby centre
Listed Midlands companies record five profit warnings in Q1 2023 – the lowest number since 2021
Listed companies in the Midlands issued five profit warnings in Q1 2023, nine less than Q4 2022 – a decrease of 64% – and the lowest number of warnings since Q2 2021, according to the latest EY-Parthenon Profit Warnings Report.
Nationally, profit warnings issued by UK-listed companies between January and March 2023 reached their highest first quarter total since the early stages of the pandemic in 2020, with 75 warnings issued.
The report reveals that the number of warnings issued in the first quarter of 2023 exceeded the 72 issued in Q1 2022 and that quarterly profit warnings have remained above the 10-year quarterly average, excluding 2020, for five consecutive quarters. The highest number of Q1 warnings was in 2020, when 305 were issued.
Persistent economic uncertainty has played a significant role in many of these profit warnings. More than a third (35%) of profit warnings cited delayed, reviewed, or cancelled contracts, up from 21% in the same period in 2022, as customers paused or cut spending amid volatile and unreliable demand.
The report found that since the start of 2022, 98 companies have issued at least two profit warnings, while a significant cohort of UK companies have faced particularly challenging conditions after entering the three warning ‘danger zone’. Of the 31 companies that have issued three warnings since the start of 2022, 29% have since delisted or are in the process of being sold. This marks a greater-than-average market dropout rate, as typically just one-in-five companies delist within a year of their third warning, most due to insolvency.
Dan Hurd, a partner at EY-Parthenon in the Midlands, said: “While the Midlands has seen a fall in the number of profit warnings this quarter, uncertainty remains across industries. Inflationary pressures in energy, labour and other input costs continue to have an impact across the supply chain. Businesses that took on increased borrowing during the pandemic may now find themselves particularly vulnerable to higher interest rates.”
Jo Robinson, EY-Parthenon partner and UK&I turnaround and restructuring strategy leader, said: “Economic forecasts may have seen some improvement in recent months, however the extraordinary strength of headwinds over the last two years has left some businesses facing recession-like conditions. This has taken its toll on business confidence and, as pressures move through the supply chain, we’ve seen a higher number of companies warning of delayed or cancelled contracts in comparison to the last quarter. “This economic uncertainty risks prolonging recovery, even as forecasts improve. Many companies may struggle to build momentum as they contend with increased working capital demands and finance costs. “We would normally expect to see insolvency activity peak nine to twelve months after a profit warning peak, so the coming year will be crucial. While the UK economy appears to be turning a corner, recovery is not guaranteed. Businesses should continue scenario planning and building solid operational and financial foundations to withstand further shocks and capitalise on growth.”Technology and Telecoms warnings at a three-year high as sector faces volatility
One-in-five (22%) of Q1 profit warnings were issued by UK-listed companies in the technology and telecommunications sectors with warnings almost tripling year-on-year to 16 in total.
FTSE Software and Computer Services companies issued nine profit warnings in total, the sector’s highest level of warnings since Q2 2020, while warnings from telecoms sectors were the highest since 2018. These sectors have been particularly vulnerable to cost-cutting and uncertain demand, with contract issues cited in over two-thirds (69%) of technology and telecommunications sector warnings.
Many technology companies have also faced difficulties in accessing capital, as increased interest rates, recent turbulence in the global banking markets and other external headwinds create a challenging fundraising environment.
A reprieve for retail but challenging times ahead
Remaining sectors with the most warnings in Q1 2023 were FTSE Retailers (5), FTSE Travel & Leisure, and FTSE Electronic & Electrical Equipment, FTSE Pharmaceuticals & Biotechnology, and FTSE Media (all with 4).
The five warnings from FTSE Retailers marks a decrease from the nine issued in both Q4 2022 and Q1 2022, representing the sector’s lowest quarterly total since Q4 2020. However, persistent inflation, high interest rates and tightening consumer spending will challenge an already delicate sector.
Almost a third of listed retailers (30%) have issued two or more profit warnings since the start of 2022, well above the 8% all-sector total. Of the consumer sector companies that moved into the ‘three warning’ danger area since the start of 2022, 30% have gone into administration or have been put up for sale.
Seven units on Northampton industrial park acquired by £150m urban logistics investment fund
Workforce challenges outrank inflation and interest rates as a top concern for mid-sized businesses
CBI suspends all policy and membership activity until June following fresh allegations
“The Awards are a fantastic boost for businesses” – MKM joins sponsor line up for the East Midlands Bricks Awards 2023
Sam Shipman, also Branch Director at MKM Nottingham, added: “Each MKM branch takes great pride in supporting its local construction community, helping to ensure these commercial developments are brought to life with the highest standards.
“The Awards are a fantastic boost for businesses and so easy to enter. It is a great opportunity for companies in the area to celebrate the amazing work that they have been doing and share their successes with the wider industry.”
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.
- 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:
                Asbestos trade association welcomes Kriss Akabusi to host awards event
- Contribution to the Community Award
 - Customer Service Excellence Award
 - Commitment to People/Workforce Development Award
 - Excellence in Innovation
 - Rising Star Award
 - Industry Associate of the Year
 
Water company gives charity £9,000 to support families after the loss of a child
University appoints alumni to lead business start-up programme
Loughborough University’s business incubator LUinc has recruited two entrepreneurial Loughborough graduates to lead on its business start-up programme.
Alex Taylor and Andres Urena will lead a project to encourage and support aspiring entrepreneurs from across the region to explore business start-up, recruiting cohorts of new business founders and working with them directly to help develop and progress their businesses. As business start-up leads they will connect with key stakeholders and regional partners, including with colleagues in the Loughborough Enterprise Network, Charnwood Borough Council, Leicester and Leicestershire Enterprise Partnership, and Charnwood Campus, to promote the start-up support available through LUinc facilities based at Loughborough University Science and Enterprise Park and in Loughborough Town Centre. A crucial part of their work will be to equip entrepreneurs with skills, knowledge, resources and networks to rapidly test, validate, setup and grow new businesses. In turn, this will support the rejuvenation of the local economy by helping start-ups to generate new jobs, value and innovations. Alex said: “Loughborough played a key role in helping start my own entrepreneurial journey, so the opportunity to support future founders was one I could not turn down. Turning an idea into reality can be tough, but is incredibly rewarding, and with the support available from myself, Andres and LUinc. there has never been a better time to get started.” Incubator manager Pete Hitchings said: “As founders in their own right, we’re really pleased that Andres and Alex have joined our team to be able to inspire and support new business owners originating from the University and the wider region. We’re always seeking new entrepreneurs to join our community so please do get in touch if you think we could help.” Alex and Andres will each spend three days a week working as part of LUinc, with their remaining time devoted to their respective businesses. Alex, who studied International Business at Loughborough University, is the founder of Endeavours Adventures, an adventure, tour and charity challenge provider that curates bucket-list experiences for students, corporates and individuals. Since launching the business in 2019, Alex has organised treks, runs and climbs in the UK and abroad for over 50 different groups, and helped to raise over £500,000 for charity. Andres, a Loughborough University London graduate, is a serial entrepreneur with expertise in digital advertising, information design and internet of things (IoT). Andres’ latest venture, Everywhere Tech, aims to improve internet connectivity by developing next-generation technology that integrates Wi-Fi in every room of new houses. Andres chose to relocate from his home country of Peru to Loughborough to take his business to the next level.SMEs get free advice on lots of topics at Business Gateway Growth Hub event
Energy audits, apprenticeship advice, and wellbeing at work strategies were just some of the topics covered at a free conference to help SMEs navigate the current cost of doing business.
Around 150 people attended Leicester’s Morningside Arena on Tuesday for the one-off conference organised by the Business Gateway Growth Hub.
It was hosted by Leicester and Leicestershire Enterprise Partnership Board Members Sonia Baigent and Glynis Wright, and saw attendees depart he venue with practical tips and advice from more than a dozen expert speakers.
Attendees were also able to meet representatives of 17 local organisations offering free business advice and support on a selection of stalls set up for the event.
Sonia, Chair of the LLEP’s business board and herself a business owner, said: “My own work in business consultancy makes me very aware of the challenges currently being faced by SMEs. Therefore, it was really encouraging to see colleagues from across the business community come together to share practical tips, advice and contacts with other small businesses.
“Hopefully, by applying some of what they picked up at the conference, our local business owners will go on to strengthen their position.”
Glynis said: “There was a really positive mood among the business owners who came along to the event and confidence that things are not as bleak as we are sometimes told. “We had some really interesting and insightful questions from the floor as our guests took advantage of the expertise that was made available. “All of our speakers offered practical suggestions on reducing costs, tackling various challenges, and encouraging growth. Sonia and I are very grateful to each of them for giving up their time – without charge – to enable fellow local businesses to benefit from their expertise.”SME owners received numerous top tips from the speakers, as well as networking breaks to meet other businesses and discuss the free support on offer from a host of local service providers.
More than 98% of Leicester and Leicestershire businesses employ fewer than 50 people, so talks were tailored to offer targeted advice.
- Get hints and tips from 11 of the presentations on the Growth Hub website now.
 


                        
                        
                        
                        
                        
                        
                        
                        
                        
                        
                        
                        