Mablethorpe is set to be a leader in the development of medical technology and innovation after the government gave the go-ahead for the Campus for Future Living.
£8.5m in Town Deal funding has been approved for the campus which will put Mablethorpe at the forefront of medical technology and health and care related teaching and research.
And, in more good news for the area, the government also approved the first phase of the ‘mobi-hub’. Mablethorpe Town Centre Transformation and Mobi-Hub are two projects within the Mablethorpe Town Deal that are aligned to make the town centre more attractive, less cluttered, and more coherent, to the benefit of locals and visitors and to the wider economy. They also seek to address accessibility issues and provide greater connectivity.
The Connected Coast Board oversees the Town Deal programme and projects for Mablethorpe, and chair Chris Baron welcomed the approval from government. He said: “The confirmation that these important and innovative projects can go ahead is hugely significant for Mablethorpe and the surrounding area.
“Both the campus and the Mobi-Hub will be transformational for Mablethorpe, and will bring far-reaching benefits for our communities, and beyond.
“The campus will position our area as an exemplar in the field of medical technology, bringing jobs and attracting businesses.
“I am hugely grateful to all our partners who have worked to develop these projects, and I look forward to seeing the difference that they will make for Mablethorpe.”
Victoria Atkins, MP for Louth and Horncastle, said: “This confirmation of significant funding to improve transport connectivity and enhance health and social care provision will bring transformational change to Mablethorpe and the surrounding area. Notably, they will attract more healthcare professionals and businesses to our beautiful corner of Lincolnshire benefiting our community and local economy.”
Cllr Craig Leyland, leader of East Lindsey District Council, said: “This is a huge investment into Mablethorpe which will put the town on the map for its national significance in developing new medical technology and innovation.
“Together with the Mobi-Hub, these Towns Deals projects will bring positive change to Mablethorpe, increasing footfall for our businesses and creating jobs for our residents now and for years to come. These projects are milestones to celebrate, and I look forward to seeing the new opportunities they bring to the Lincolnshire coast and wider East Lindsey.”
Led by a coalition of local, regional, and national partners, the Campus for Future Living will put Mablethorpe at the heart of the provision of health and care related jobs and businesses.
As well as providing a base for the development and testing of medi-tech applications, it will also enable the continued professional development of clinicians, and will provide support and training for people working in care.
Julian Free CBE, deputy vice chancellor, University of Lincoln, said: “The University of Lincoln is delighted the Government funding for the Campus for Future Living has been secured, which recognises the hard work of all partners in this project drawn together by the University’s programme manager.
“It is a significant step in the plan to advance medical and social care in the region and address longstanding health inequalities. The Campus will provide the resources for research and innovation alongside facilities for medical and social care delivery creating the synergy to accelerate improvement in health outcomes, which will also be exported beyond the region.”
Professor John Hunt, academic lead for the Medical Technologies Innovation Facility (MTIF), said: “The campus will be a pioneer leading approaches that will be nationally and internationally relevant to the development and delivery of future healthcare to people in their communities.
“Cocreating and delivering healthcare needs with the community, healthcare providers and industries. We are delighted to be a partner in this exciting opportunity and deliver new approaches to healthcare.”
The approval for the Campus for Future Living and the mobi-hub comes after the other Town Deal projects for Mablethorpe were recently confirmed by the government, including the redevelopment of the Colonnade at Sutton on Sea.
A new purpose-built leisure centre and digital learning complex is also set to be developed on the site of the current Station Sports Centre.
In addition, Mablethorpe town centre will be transformed through a programme of shopfront and building repairs and improvements, and public realm enhancements. Finally, with the National Trust, a sustainable visitor hub with a range of accessible facilities will be developed to enhance explorations of the Sandilands Nature Reserve and the local area.
In 2021, Mablethorpe agreed a town deal worth £23.9m and Skegness £24.5m – and with match funding, the total investment in both areas will be in the region of £80m.
Many businesses struggle with cash flow problems, which may occur when more money is flowing out of your business than is coming to your business. Cash flow problems may be caused by a variety of factors, including seasonal fluctuations in sales, low profit margins, and poor financial planning. As a result, if you experience a cash flow shortage, you may not have enough funds to cover payroll or other operating expenses. It’s crucial to develop a strategy or plan, which can help you handle this issue and prevent a cash flow crisis from happening. Within this article, you will find seven key steps you can take to solve your cash flow struggles.
Adjust Your Business Plan
Encountering a cash flow shortage means that you should closely inspect your current business plan, processes, expenses, and operations. It’s important to determine why you encountered a cash flow problem and consider whether this is likely to become a recurring issue. This means that you will need to develop a strategy to help you handle future cash flow shortages. You can also look at individual areas of your business, including jobs, clients, events, employees, marketing strategies, products, and services. As a result, you can see which areas of your business generate the most and least income.
Evaluate Your Options
You will need to evaluate the options available to you and make an informed decision to solve this problem. Consider what you can do to bring more money into your business, whether that’s a credit card advance or a short-term loan. For example, payday loans can be particularly useful when you are faced with a cash flow shortage. Payday UK has made it easy to gain access to a loan from an industry-leading panel of lenders, which can save you time and help you get your business back on track. Once accepted, the money will typically be transferred on the same day.
Speed Up Your Receivables
There are many ways you can accelerate your receivables and bring extra cash to your business. For instance, you may want to offer and accept pre-orders for a product before it hits production. You can also ask new customers for a deposit or partial payment upfront instead of billing the whole amount due in a single invoice after products have been delivered. Start sending your invoices early and more frequently rather than waiting for the full completion of the job, as this means you will receive payment more quickly. Remember to make it convenient for customers to pay by offering a range of payment methods.
Reduce Other Expenses
If overspending makes things more difficult, you may find yourself cutting the largest expenses, such as inventory, marketing, or labour. However, this can be an expensive mistake, as these aspects are core to business operations. Instead, it would help if you focused on reducing your business spending without sacrificing the quality of customer service. Then, you can review your overhead expenses, including rent and utilities. Consider where you can cut back and try to get better rates or renegotiate your contracts. Be honest with your vendors and enquire about delaying payments.
Have A Clear View Of Inventory
If you run a product-based business, you should know the importance of keeping tabs on how much merchandise is available. You will need to develop a clear sense of how much inventory you have at any point, as otherwise you run the risk of overstocking and thus creating waste. It might be useful to invest in an inventory management system that can be integrated with your accounting software. This will allow you to maintain a real-time view of stock, as well as how much you paid for each product and how much you actually need at different times of the year.
Create Cash Flow Forecasts
One of the best ways to solve a cash flow issue is to prevent a shortage from occurring in the first place. Therefore, you should start creating and using cash flow forecasts, which will show you how much cash reserves your business needs over the next months. Cash flow forecasts are simple but often underused accounting tools. For example, if a seasonal dip in sales is expected or you may need to fulfil a one-off requirement for cash, you can take precautions now so that there is no negative impact on your business.
Improve Invoicing
It’s important to stay on top of your invoicing in general, as this will help you benefit from healthier cash flow. If you find that invoicing is consistently lagging, now might be the right time to find good accounting management software. Thanks to this, you can ensure accurate and timely invoices while avoiding potential errors that often occur with manual bookkeeping. You will be able to keep track of all transactions, as you will have access to a dashboard with an electronic trail of all related records. This will come in handy when it’s time for auditing.
Rushton Hickman have recently let the 8,162 sq ft former Brantano Footwear unit on Union Street in Burton-on-Trent town centre on a new 10 year lease to local business Pet Treats Wholesale for their new retail warehouse and e-commerce fulfilment facility.
The property is located in the heart of the town centre and fronts directly on to the Coopers Square car park and is close to national retailers including H&M and Next.
Douglas Harvey, senior agency surveyor at Rushton Hickman, concluded the letting and said: “This has been a really interesting deal to be involved with, as it’s part of a recent trend of repurposing retail park units to enable occupiers to satisfy their storage needs in a market with a scarcity of warehousing supply as well as the needs of their customers who are increasingly transitioning towards shopping on-line.
“The size and location of retail warehouses make them ideal for being adapted to provide both click and collect and last mile logistics services for the consumer.”
Bill Stephens from Smith Price RRG said on behalf of the landlord: “It’s been a fantastic result to get a unit of this size let after being vacant for so long. We were impressed with Doug’s creativity in suggesting an occupier that we may not have normally considered for a property of this type and then getting the deal over the line for us.”
Graham Bancroft, director of Rushton Hickman, said: “The market for retail warehouses has changed over recent years with traditional occupiers not necessarily being the ‘go-to’ for these spaces due to the change in the way people shop.
“Consequently, it is important as an agent to think outside the box and not just consider the same old methods and we’re extremely pleased to see the hard work and effort that Doug put into this letting coming to fruition and we all wish Pet Treats Wholesale the best of luck in their new property.”
Kingdom Services Group has acquired Mercury Personnel Solutions – the Lincolnshire-based specialist recruiters to the fresh produce, horticulture, warehouse, and distribution sectors.
The company will be branded and known as Kingdom Mercury.
Robert Carter, Managing Director, and Gary Turner, operations director, will continue to lead the company along with the existing SMT.
It will be a soft transition and business as usual for the Mercury customers and colleagues – but with the benefits that Kingdom can provide, which include wider “one stop” service capabilities, working synergies and specialist knowledge, and added value that come from being part of a 7000+ colleague and £200m turnover organisation operating across a UK-wide office network.
Robert Carter, Mercury MD, said: “I’m incredibly proud of the achievements that the company has made over the years and extremely excited that the company has been acquired by Kingdom Services Group. I would like to thank the many clients that we have, the flexible workforce and the talented operations and accounts team that have made Mercury Personnel Solutions such a success over the years and look forward to continuing the success story with Kingdom Services Group.
“The new merger will enable us to continue with our growth to the next level whilst being supported by the Kingdom Services Group whilst delivering enhanced services to clients and candidates alike. Further investment shall continue to expand our geographical offering and most importantly by joining an independently owned group I’m safe in the knowledge that business will be as usual only even better!”
Terry Barton, CEO of Kingdom Services Group, said: “Mercury has 20+ years of trading and a strong and solid brand. They have an exceptional growth path because of a great team of people and like Kingdom also have a great energy about them. We also really liked that they are a 52-week recruitment business and aligned with Kingdom have a fantastic workforce (900+) and they attract and retain good people. The Mercury acquisition is aligned to our 2022 recruitment business growth plans. I personally welcome the Mercury team into the Kingdom Group.”
Kingdom Services Group has a UK-wide network of 18 offices including Glasgow, Birmingham, London and Belfast with their National Support and Command Centre based at Newton-le-Willows. Kingdom also operates in India.
Budding netball stars, train drivers and business leaders – plus a real-life pirate – have all shown their support as Derby bids to become the new home of the Great British Railways.
Derby is on a shortlist of six cities who are hoping to be chosen as the national headquarters. Great British Railways will be the new, single public body responsible for running and transforming Britain’s railways.
The city already has the backing of Local Authorities across the East Midlands and has received support from Derbyshire, Nottingham, Nottinghamshire, Leicester and Leicestershire, alongside 21 MPs from across the region – including Pauline Latham and Amanda Solloway, who visited Derby County’s Pride Park Stadium for their opening League One fixture of the season, to drum up support for the campaign.
And it seems that there is support in the county, too, with Jan Manfredi of Chesterfield-based award-winning ice-cream company Smith’s Creamland Ices and voluntary engine driver Debbie Jackson, who drives popular steam train ‘Little David’ through Matlock’s Hall Leys Park, giving the bid their backing.
Even Captain Jack Sparrow, who was visiting Matlock Bath recently, has voted for Derby to be the next home of the Great British Railways. He said: “Arrghh, Derby gets my vote every time.”
Chesterfield MP, Toby Perkins, believes that Derby is “the perfect place as the home of railways” and has written a letter to Transport Secretary Grant Shapps.
He said: “Derby’s geographic location and transport links are perfectly situated at the heart of the country’s rail network and would provide the ideal setting for linking together the north and south of Britain.
“Locating the new HQ in Derby would be very beneficial for the Great British Railways and would bring in much-needed investment and skilled jobs to the city, which would benefit the whole of Derbyshire and the East Midlands region.”
But more votes are needed before the August 15 deadline and campaigners will be asking shoppers in the Derbion to back the bid this week (Tuesday, August 9) whilst other supporters have visited tourist hotspots in the county.
Husband and wife Adam and Natalie Bamford, of Derby-based personalised corporate gifting company Colleague Box, are backing the bid. Adam said: “Derby is the birthplace of the industrial revolution and a city of innovation and home to leading global companies such as Alstom, Toyota, Rolls-Royce and many more.”
Natalie added: “It’s also a city with a big heart, supportive community and is brimming with talent. Its location makes it the perfect choice to be the home of the Great British Railways and the project would diversify and strengthen the local economy.”
Public relations company Penguin PR, who have offices in Derby and Chesterfield, are also supporting the bid. Director Simon Burch said: “Anyone who lives in Derby knows someone who works or used to work on the railways and there are reminders of our railway heritage everywhere, so the city has got rail tracks running through its veins.
“But as a local business owner and dad to two children, I realise how the region’s future relies on attracting projects of this calibre. Derby has been living in the shadows for too long when it comes to national recognition and attracting Government investment. I can’t think of a project that the city is more suited for, nor deserves as much.
“That’s why we’re supporting the bid and have placed our votes for Derby.”
Beverley Wakefield, of city-based Vibrant Accountancy, says that it would be a fantastic coup for the local economy.
She said: “We are very lucky to be situated in the heart of the country and so our network links are strong. Derby and Derbyshire has a great history with the rail industry and the city being home to the Great British Railways would be a fantastic boost for jobs in the region, and the local economy.”
Meanwhile, keen netball players Abi Smith (10) and her friend, 11-year-old Grace Ganly said that they love the fact that Derby is central to all UK destinations – and how exciting taking a train to a different city is.
“I travelled on the train from Derby to London at Christmas time, with my mum,” said Grace, “and it was really exciting. It didn’t take long at all, and I enjoyed watching the scenery go whizzing by.”
A dramatic year-on-year increase in corporate insolvencies to their highest point in a decade suggests that many East Midlands directors are opting to close their businesses, with failing confidence in their ability to trade in the current economic climate.
This is according to the Midlands branch of insolvency and restructuring body R3 and follows latest government statistics for England and Wales which highlight an 81.3% year-on-year increase in corporate insolvencies in the second quarter of 2022, rising from 3,105 in the same period in 2021 to the current total of 5,629.
R3 Midlands chair Eddie Williams, a partner at PwC in the region, said: “These figures show the highest levels of corporate insolvency since 2012, driven by an increase in all forms of insolvency process. Creditors’ Voluntary Liquidations have reached their highest recorded figure of 4,908, indicating that many directors are opting to close their businesses due to increasing economic pressures.
“The steady rise in Compulsory Liquidations since the start of the year also suggests that creditors are now making use of their power to issue winding-up petitions to try and claw back monies they are owed.
“Despite May’s unexpectedly positive GDP figures, these government statistics show that now is not the time for complacency. The current economic headwinds are only likely to worsen before they improve, and this will lead to local companies having to overcome a tough second half of this year.
“With household disposable income dropping for the eighth consecutive month in June, consumers are having to prioritise household bills before they can think about spending their money elsewhere. This, coupled with soaring utility costs, supply chain issues, rising interest rates and a tight labour market, will mean an uphill battle for many businesses.
“The insolvency statistics should be a timely prompt for any company director struggling with cashflow. Objective advice should be sought from a qualified, professional source to decide the best path forward – and the earlier this is done, the better.
“Most R3 members will give an hour’s free consultation to potential clients to enable them to understand more about the circumstances of the business, and to outline the options available to help them improve their situation.”
Eight months after breaking ground at Clowes Developments-owned Etiquette Park in Ilkeston, lead construction contractor TanRo has handed over the completed units to occupiers Catering24 and WELEDA.
Construction of both units, totalling circa 50,000 sq ft, began in December 2021. Despite a host of challenges faced by the industry, namely supply and demand of materials and a shortage of skilled labour, TanRo has delivered the bespoke units for Clowes Developments’ clients on time and according to programme, just eight months on.
On Monday 25th July, practical completion of Unit A was certified. Unit A is a 27,349 sq ft industrial unit which sits on the left-hand side of the business park. Family business owners, Charlie, Steve and Oliver were onsite to mark the occasion and commented: “This is an exciting new chapter for Catering24. Our growth over recent years has led us to this point but it’s been 30+years in the making. We are looking forward to having our own set of keys and start making the brand new, pristine unit feel like home for our staff.”
The deal marks significant expansion for the food packaging distributor who have doubled their turnover in the past two years. Catering24 has the option to purchase the property within the first 2 years. Assuming the option is triggered this will represent a total investment in the warehouse, equipment, racking and IT software to the sum of £2.8m.
Charlie Dean, Managing Director at Catering24, added: “My daughter has been tracking the progress of the build since January, we have been driving her down to have a sneak peek at the unit which she has loved. I cannot wait to bring her back and show her around. This really is a special moment for us as a local family business.”
Sustainable health and beauty pioneer WELEDA will also be moving into Unit B at Etiquette Park which comprises of a warehouse and office facility totalling 24,207 sq ft. The modern facility sits adjacent to Catering24’s unit on the right-hand side as you enter the site. The company’s Customer Care and Warehousing teams are expected to migrate over to the brand-new facility from WELEDA’s manufacturing site at Ilkeston within the next few months, allowing additional breathing space at the Heanor Road headquarters for the expanding business.
WELEDA’s supply chain & warehouse manager, Robert Wood, said: “We are really delighted that our move date is now in sight, and cannot wait to settle our team into their new offices and warehouse facility. The expansion will not only enable us to recalibrate systems and streamline our business, but the exciting new space will undoubtedly inspire and motivate our team as it will provide improved working conditions. A great new springboard for the business!”
Having completed the construction of Etiquette Park, lead contractor, TanRo, will have a short period of time to complete any snagging list items identified during the final inspection prior to practical completion sign off. Within a matter of weeks, the construction team will depart from the site and get ready to go again at the next Clowes project, Fairham Business Park.
Fairham Business Park (FBP) is being brought forward as part of the wider masterplan for the £800m Fairham development, south of Clifton in Nottingham. The brand-new neighbourhood is being delivered by a joint venture between Clowes Developments and Homes England, the government’s housing accelerator.
Outline planning permission is in place for one million square feet of commercial space within the 50-acre Fairham Business Park. TanRo have recently been announced as the lead construction contractor and are getting ready to settle into life on site at Fairham.
Providing a prime opportunity to shout about your business’s achievements, there are only 10 days left to enter the East Midlands Bricks Awards 2022!
The annual event, organised by East Midlands Business Link Magazine, is an independent awards and publicity programme recognising development projects and people in commercial and public building across the region – from office, industrial and residential schemes, through to community projects such as leisure schemes and schools.
The prestigious awards attract leaders from across the region and are the perfect way for businesses to promote themselves and those they work with. Indeed winning one of these awards will add considerably to a company’s or individual’s brand and enhance their commercial reach significantly.
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, and overall winner.
Winners will be revealed at a glittering awards ceremony on Thursday 15 September,at the Trent Bridge Cricket Ground – an evening that will also provide plenty of time to forge new contacts with property and construction professionals from across the region.
Henry Brothers, winners of Commercial Development of the Year at the 2021 East Midlands Bricks Awards, reflected on the event: “Henry Brothers was absolutely thrilled to have won the Commercial Development of the Year award at the East Midlands Bricks for the delivery of the Medical Technologies Innovation Facility at Nottingham Trent University’s Clifton Campus.
“The Henry Brothers story began in Northern Ireland in the 1970s and the company has grown to become a leading UK construction company. However, this award for Henry Brothers Midlands cements our position as a significant member of the East Midlands construction sector and we are very proud to have been recognised for our contribution.
“We enjoyed the informal atmosphere of the East Midlands Bricks Awards ceremony and hope to nominate projects next year, as we’d very much like to be part of the event in 2022.”
To submit a business or development for the East Midlands Bricks Awards 2022 before nominations close on Friday 19 August, please click on a category link below or visit this page.
Overall winner (this award cannot be entered, the winner will be selected from those nominated)
The Overall Winner of the East Midlands Bricks Awards 2022 will also be awarded a year of marketing/publicity worth £20,000.Find out who last year’s winners were here.
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 15 September 2022 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.
The event will also welcome John Forkin MBE DL, Managing Director at award-winning investment promotion agency Marketing Derby, as keynote speaker, as well as award-winning mind reader, magician, and professional mentalist Looch, who will bewilder and astonish guests during the evening’s networking.
Dress code is standard business attire.
Bassetlaw District Council have submitted plans to government in an effort to secure £20 million in funding to transform Worksop Town Centre.
The District Council, working in partnership with the Levelling Up Board, has applied for a grant through round two of the UK government’s Levelling Up Fund (LUF).
If successful the District Council will redevelop the Priory Shopping Centre delivering a brand new family orientated leisure facility in the heart of the town centre. This will be complemented by a new towpath and moorings along the Chesterfield Canal, a new bridge linking to the north of the town and a focus on town centre living, with under used space being turned into apartments and town houses. A new multi-function market area and food court will also be created in addition to a new cycle hub, with café, changing rooms and lockers.
The bid, shaped by the Levelling Up Board including Bassetlaw MP, Brendan Clarke-Smith, and chaired by Andria Birch, Chief Executive of BCVS, will:
Redevelop the Priory Centre including the development of a brand new leisure facility focused on family orientated activities such as tenpin bowling, indoor soft play facility, Trampoline Park and a café. Redevelopment will retain existing occupiers and bring in new tenants for current empty units.
Deliver a new green footpath/towpath link along the Chesterfield Canal along with new moorings capitalising on canal boat traffic, whilst improving a green corridor through the town centre.
Create a footbridge over the Chesterfield Canal resulting in improved connectivity to the main town centre from the residential areas to the north of the town which is one of the most deprived areas within Bassetlaw.
Enable the redevelopment of the area for new town centre living, bringing two sites forward for development and encouraging underutilised space to be made into apartments and town houses.
Create a multi-functional market area with a new food court.
Create a new cycle hub that includes a cafe with changing facilities and bike lockers.
Improve the existing road surfacing to ensure there is a defined access into the shopping centre.
The bid is designed to encourage people into the town centre and give visitors a reason to stay longer by offering activities and interests that currently do not exist in Worksop. It will also make better usage of the canal and waterways within the town. A successful bid will kick start the improvements required to encourage new investments and create a new sense of confidence for Worksop Town Centre.
Cllr Simon Greaves, leader of Bassetlaw District Council, said: “Levelling Up Funding is crucial to the long term future of Worksop Town Centre. This bid complements developments like the new Bridge Skills Hub and will provide a catalyst to unlock investment, to give people a purpose not just to come into town, but to stay longer in town.
“We need to create a shift from surviving to thriving. We have strong support from our MP and the County Council and look forward to the Government delivering on their promise to Level Up forgotten areas like Worksop.”
Brendan Clarke Smith, Member of Parliament for Bassetlaw, said: “The ‘Levelling Up Fund’ provides Worksop with an opportunity to start the process of regenerating our town centre, to bring new life into empty units and to restore pride in a once thriving high street.
“This will build upon the £17.6m for a new A&E village at Bassetlaw Hospital, which will allow overnight treatment for children to return; the £3.5m funding for the Skills Hub, giving people the opportunity to retrain and reskill; the extra per pupil funding provided to our schools, giving our children the best start in life; the Safer Streets Funding, that provided new CCTV in our town centre to assist the police in making the high street safer and also the support to small businesses during the pandemic with grants, loans and the furlough scheme.
“I am delighted that we have been able to work together in partnership with other stakeholders, including the District Council, to produce a bid we feel gives us the best chance of securing this extra funding and once again delivering a town centre we can be proud of. I would like to thank everybody involved for their hard work in putting this proposal together.”
Chair of the LUF Board, Andria Birch, Chief Executive of BCVS, said: “Bassetlaw CVS has been pleased to support development of the Worksop Levelling Up bid submission. The strong and diverse partnership approach has kept community voice at the heart of proposals as they have developed. Levelling Up funding will provide a critical stimulus for the creation of a Better Bassetlaw for everyone. We now look forward to next steps and building on the great work to date once funding is secured.”
Groubook, the Nottingham-based platform dedicated to group bookings, has acquired StudentSphere, the student ticketing provider in Canada, for an undisclosed sum.
The acquisition is a strategic move for Groubook as they continue to expand into new regions with a high priority on their student business. The acquisition is teased to see Groubook move into the UK ticketing market whilst expanding the reputation that StudentSphere have in Canada.
Groubook CEO Bradley Gough said: “StudentSphere have culminated a great reputation in the Canadian market for being a no-fuss, cost effective and easy to use platform for event organisers.
“Groubook similarly has a reputation amongst organisers and the acquisition not only allows us to move into the Canadian market which has over 1.5m students, but affords us the technology of potentially offering our partners ticketed events for promoters and clubs in the UK as well as bolstering our own platform.
“I’d like to place my sincere thanks on record to Andrew, Allan & Sebastien for the opportunity for Groubook to acquire StudentSphere.”
Andrew Lockhead, co-founder of StudentSphere, said: “The company was created by students for students, we couldn’t be happier to ‘pass the torch’ to a group of people who share the same passion and vision for the students market. StudentSphere will be in great hands and be able to accomplish so much more with the help of the Groubook team.”
Derbyshire-headquartered The Recruitment Group has completed its eighth acquisition – of MYNT Recruitment, expanding its footprint into Yorkshire.
Established in 2004, MYNT has offices in York, Hull and Rotherham and specialise in recruiting for the Commercial, Industrial, Professional and Technical sectors.
The Recruitment Group’s group Managing Director, Paul Hipkiss, said: “This is a great milestone for us, as it signifies the next stage of our growth and another great business joining our family. Mynt and The Recruitment Group have a lot in common. Both companies share the same values and are dedicated to providing industry-leading service. Our combined expertise will bring loads of new job opportunities to Yorkshire.”
Martin Shaw, Managing Director of MYNT, added: “When we were looking for a buyer for our business, we needed to find a company that shared our values, focus on customer service and who had the vision matched with the expertise to take MYNT Recruitment to the next stage of our development. I can’t wait to see how our business and employees develop in the future. It’s certainly exciting times and my team and I can’t wait to see where this journey takes us.”
MYNT founder, John Stanton, is now leaving the business to retire. He said: “As I enter retirement, I am really pleased that Martin and I found a buyer who shares those exact same values and the ethos on which I formed this business back 2004 and I know that whilst we have had great success, that The Recruitment Group will take our team to that next level.”
The deal is set to take The Recruitment Group’s headcount to nearly 150 and increase its footprint to 15 locations nationwide.
Joules, the Market Harborough-based lifestyle group, has confirmed that it is in talks with Next about a potential equity investment.
Raising proceeds for Joules of £15 million, Next would become a strategic minority shareholder.
Joules has also revealed that it is in discussions with Next over adopting its Total Platform services to support its long term growth plans.
In a statement Joules said: “Joules confirms it is in discussions with Next about a potential equity investment raising proceeds for Joules of c.£15 million at no less than Joules’ current market price, which would result in Next becoming a strategic minority shareholder in the Group. The equity investment would be subject to approval by Joules’ shareholders.
“There can be no certainty these discussions will lead to any agreement. A further announcement will be made if and when appropriate.”
With nominations set to close on Friday 19 August for the prestigious East Midlands Bricks Awards 2022, time is running out to make your submissions.
Celebrating the outstanding work of those shaping the landscape of our region, the Bricks provide a prime opportunity to put property and construction businesses, professionals and projects in the spotlight while networking with local decision makers over canapés and complimentary drinks.
To make an entry for the East Midlands Bricks Awards 2022, please click on a category link below or visit this page.
Overall winner (this award cannot be entered, the winner will be selected from those nominated)
The Overall Winner of the East Midlands Bricks Awards 2022 will also be awarded a year of marketing/publicity worth £20,000.
This year’s must-attend awards ceremony, revealing winners, will take place on Thursday 15 September at the Trent Bridge Cricket Ground, and will hear from John Forkin MBE DL, Managing Director at award-winning investment promotion agency Marketing Derby – the evening’s keynote speaker.
Tickets can now be booked for the East Midlands Bricks Awards 2022 – click here to secure yours.
The special awards event will be held on 15 September 2022 in the Derek Randall Suite at the Trent Bridge County Cricket Club from 4:30pm – 7:30pm.
The occasion will also welcome award-winning mind reader, magician, and professional mentalist Looch, who will bewilder and astonish guests during the evening’s networking.
Dress code is standard business attire.
Revenue has risen while pre-tax losses have widened at Derbyshire-based Light Science Technologies, the controlled environment agriculture (CEA) technology and contract electronics manufacturing (CEM) group.
According to results for the six months ended 31 May 2022, revenue grew by 4.2% to £3.6m from £3.4m in the same period of last year.
Meanwhile the company posted a loss before tax of £1.3m, compared to a £0.9m loss last year, which Light Science Technologies says is due primarily to the CEA division’s continued investment in both product research and development and marketing of the company’s products and services.
Simon Deacon, Chief Executive Officer of Light Science Technologies, said: “With group revenue increasing by 4.2% for the six months to 31 May 2022, alongside our forward order book and contracts worth £18 million, we have seen an increase in our pipeline of quoted business due to a demand for reshoring manufacturing to the UK, as customers look to increase product security and reduce risk.
“As much as the macro trends are challenging in the short term, we are confident that the medium and long-term outlook for the group is promising, as the market continues to grow. With our experienced team, our technologies and energy saving products feeding into the growing pipeline, we are in a strong position to take advantage of the opportunities and achieve our objectives. We remain confident in our ability to achieve our revised forecasts as announced on 10 June 2022.”
The latest KPMG and REC, UK Report on Jobs: Midlands survey highlighted a further expansion in permanent placements and temporary billings in July. That said, the rates of increase slowed to the softest in the respective 17 and 25-month sequences of growth.
The rise in permanent salaries eased for the second month running to the slowest since June 2021, while inflation of hourly pay rates for temporary staff also eased. Finally, skilled staff shortages contributed to a further marked reduction in permanent candidate availability, albeit one that was the least marked since May 2021.
The KPMG and REC, UK Report on Jobs: Midlands is compiled by S&P Global from responses to questionnaires sent to around 100 recruitment and employment consultancies in the Midlands.
Softest rise in permanent placements in 17 months
The rate of growth in permanent placements across the Midlands slowed at the start of the third quarter. The increase was solid overall but the softest seen in the current 17-month sequence of growth. Recruitment consultancies indicated that while demand for staff remained high, there were several reports that job offers were turned downed in favour of other opportunities amid candidate shortages. The increase in the Midlands was the fastest of the four monitored English regions.
July data pointed to a continued increase in temporary billings in the Midlands. That said, the rate of expansion was much slower than seen earlier in the year and was only marginal. Respondents suggested that clients were increasingly making existing temporary staff permanent or not renewing temporary contracts.
Growth in temp billings in the Midlands was the weakest of the monitored regions and well below the national level.
Permanent vacancies increased at a marked pace in the Midlands during July. The rate of increase softened for the second successive month and led to the slowest rise in permanent vacancies for 17 months. The rise in the Midlands was also the slowest of the four monitored English regions.
Demand for temporary staff also rose steeply in the latest survey period. The pace of expansion eased from June to the softest since February 2021 and was weaker than the national average.
Softer decline in permanent candidate numbers
The Midlands saw a further reduction in the supply of permanent candidates during July. The rate of decrease remained marked, yet eased considerably to the slowest since May 2021. Anecdotal evidence suggested that people were reluctant to move at present due to economic headwinds and the cost of living crisis. At the national level, the reduction in the availability of permanent staff was quicker than that seen in the Midlands.
Recruitment consultancies indicated that temporary candidate numbers decreased at a robust pace in July. That said, the pace of reduction slowed from June to reach the softest for 16 months. A number of respondents indicated that skills shortages had contributed to the lack of available staff for temp roles.
The reduction in temp staff availability in the Midlands was the second-slowest of the four monitored regions, behind the South of England.
Permanent salary growth eases to 13-month low
Salaries for permanent new joiners in the Midlands increased for the seventeenth month in a row in July. While historically elevated, the rate of inflation eased to the softest since June 2021. Recruiters noted a lack of suitable candidates and pressure to increase salaries to entice staff were behind the rise in permanent salaries. The increase in permanent salaries in the Midlands was the slowest of the four English regions covered, however.
Hourly pay rates for temporary staff rose markedly during July. The rate of inflation eased from that seen in June and was the second-softest recorded in the past 14 months. Recruitment consultancies indicated that candidate supply shortages had been a leading factor behind higher pay rates. On a regional basis, the increase in the Midlands was the slowest of the four monitored regions.
Commenting on the latest survey results, Kate Holt, people consulting partner at KPMG UK, said: “The trend of uncertainty in the UK jobs market of the last few months continues, as overall hiring activity saw another slowdown in July. Given the challenging economic outlook, employers are rightly hesitant about their hiring plans. But to compound this, a lack of suitable candidates and an overall skills shortage in most sectors are keeping starting salaries high.
“As the cost-of-living crisis continues to bite – alongside rising inflation – some workers may well choose to stay where they are rather than risk job security by moving now. However, it’s important to note that it is still very much a candidate’s market – and so, businesses should not only be offering competitive salaries, but additional opportunities for development and upskilling to ensure that they are attracting the talent they need.”
Kate Shoesmith, deputy CEO of the REC, said: “The jobs market remains solid. Demand for staff continues to rise, as it has done since early 2021, rising in every sector. Starting salaries are still growing too, making this a good time for jobseekers to be looking for their next role.
“However, growth in permanent hiring has softened in recent months. We’ve seen that rising fuel and energy prices, inflation and labour shortages are impacting employer confidence. Labour and skills shortages are also restricting opportunities for both the private and public sector to meet consumer demand. Our latest report shows that these constraints could cost the UK economy up to £39 billion a year if we don’t work to fix these issues now.
“So it’s vital that both government and businesses start putting their people and their staffing strategies first. We know what needs to be done: there should be improved provision of skills training, increased employment from under-represented groups, and we need good transport, childcare and immigration systems.”
Clowes Developments has instructed groundwork contractor, J.C Balls & Sons to commence the earthworks and implementation of first phase infrastructure ahead of the construction of a primarily industrial use scheme at Stud Brook Business Park, Castle Donington.
The brand-new business park located off the Castle Donington bypass, which connects Clowes developed and managed East Midlands Distribution Centre (EMDC) to East Midlands Airport, is now under construction. The reserved matters planning application for the infrastructure works was granted consent on 26 May 2022 and works commenced on site shortly after.
Groundwork specialists, J.C Balls & Sons, have started work on levelling the ground, creating plateaus and delivering essential infrastructure such as roads and services which will facilitate the construction of the commercial units over the next two years.
Dane Potts, operations manager, J.C Balls & Sons, said: “Over the last couple of years, we have been working closely with Clowes and their planning team to give the most efficient engineering solution for the earthworks and infrastructure. Providing Clowes with a solution that gives them the development areas they need.
“It has been a pleasure working with team at the planning stage and being given the opportunity to self-deliver the enabling works in advance of the building contractors is a privilege.”
The mixed-use scheme will house bespoke build to suit employment, amenity, office, and industrial facilities ranging in size from 1,500 to 45,000 sq ft. The site will offer a mixture of detached and semi-detached commercial units with onsite car parking and adequate yard provisions.
Clowes have instructed a landscape architect to devise a comprehensive plan which will gently blend the commercial units at Stud Brook with the neighbouring residential development.
J.C Balls & Sons scope is to deliver a site that is prepped and ready to build straight away across 7 development plots. Involving earthworks, drainage, stabilisation, road construction and the delivery of the services to the plots, once their works are completed, contractors will be on site to start the construction of the buildings.
Interest from occupiers for the Stud Brook development has been high with several design and build offers on the table.
Digital PR firm Jennie Holland PR has been appointed by wills and probate specialist Right Legal Group.
Based in Nottingham, Jennie Holland PR provides digital marketing services, with a focus on media relations, social media management, content creation, influencer marketing and crisis communications.
Right Legal Group, which has its HQ in Derby, is a wills, probate and estate planning law firm with 10 locations across England and Wales.
The firm, which is regulated by the solicitor’s regulation authority, has appointed Jennie Holland PR to publicise and build online profile of its bespoke services and help share its mission of ensuring memories and legacy are part of the wills process for future generations – enabling families to stay connected.
Managing Director, Jennie Holland, said: “Right Legal is a business with a clear purpose and mission which is an excellent platform for a successful digital PR campaign.
“The team’s passion and commitment to their clients and their loved ones is admirable and we are proud to be working with them.
“As an agency, we are seeing a significant period of growth as the demand for digital PR and marketing services increases year on year, despite the pandemic. As a boutique and agile firm, all our work is director led and is one of the reasons we are chosen as a marketing partner by our clients.”
Right Legal Group had secured a number of accolades over the last 12 months, including being coined ‘one to watch’ on the ‘Best Companies’ list in 2021*, whilst being highly commended at the Wills and Probates Awards in 2021 for the category ‘Solicitor Firm of the Year’.
Carrie Caladine, Managing Director at Right Legal, said: “We are delighted to be working alongside Jennie Holland PR and look forward to seeing how their expertise can enhance our digital presence, whilst generating relevant conversations regarding our services.
“At Right Legal, we believe that making a will is a lot more than just an allocation of physical assets. It’s your chance to leave behind memories and legacies for future generations, ensuring your wishes are respected and that your loved ones are taken care of emotionally as well as financially.
“As family is at the heart of everything we do, we want to get people thinking about how they would like to be remembered once they pass, rather than just dictating who will receive their financial assets. With the help of Jennie Holland PR, we believe we can further this message, whilst pushing our services to a wider audience.”
Jennie Holland PR has won a raft of new business over the last six months including Midland’s travel company The Perfect Break, residential property development firm, Sherwood Oak Homes and chartered quantity surveyor and project management company, Addison Hunt.
New leisure and wellbeing and enhanced cultural facilities for Glossop are the focus of a £20m bid to the Levelling Up Fund being made by High Peak Borough Council.
The Fund is aimed at investing in infrastructure that improves everyday life across the UK and will support town centre and high street regeneration projects and cultural and heritage assets.
The Council’s bid package is focused on two schemes within the town – proposals for a new leisure centre and wellbeing hub and to boost and speed up plans to fully re-open Victoria Hall as a live performance venue. It was submitted this week and an announcement on the outcome is expected in the Autumn.
Leader of the Council, Councillor Anthony Mckeown, said: “The Council has worked with a wide range of stakeholders to develop ambitious proposals for significant investment in leisure, cultural and community facilities in Glossop which have now been submitted.
“The leisure and wellbeing hub element of our £20m bid to the Levelling Up Fund will enable us to deliver the much-demanded up-to-date facilities for the town with the Victoria Hall element fast tracking the excellent work started by the Friends of Victoria Hall to return this much valued community asset to full use.
“The Council is committed to delivering projects which enhance the lives of everyone who lives and works in the High Peak. Our vision for regenerating Glossop is already underway, with the £7m renovation of the historic Town Hall complex, and securing the funds we are asking for from Levelling Up will enable us to press ahead with our plans for new leisure and wellbeing amenities and a cultural hub at Victoria Hall more quickly.
“The complicated bidding process has required a considerable amount of officer, member and stakeholder support to develop a detailed, and supported, bid that meets all the Government requirements to bid to Round 2 of the Fund and we look forward to the announcement in the Autumn of the successful schemes which we, of course, hope Glossop will be amongst.”
The regeneration project to bring the Town Hall, Market Hall and Municipal Buildings up to modern standards will create jobs and new spaces for community use, entrepreneurs and micro-businesses alongside the introduction of energy saving technologies and fibre broadband.
It’s being funded by the Council and includes a £2m grant contribution from the D2N2 Local Enterprise Partnership via their Getting Building Fund.
Councillor Damien Greenhalgh, deputy leader and executive councillor for regeneration, tourism and leisure, said: “The projects already underway are turning our shared vision for Glossop’s future into reality and a successful Levelling Up bid will only speed up the process and further enhance the leisure and cultural offer in the town, secure our heritage buildings and provide for our community’s future.
“Regenerating our town centres and creating thriving high streets is at the heart of what we want to achieve for the High Peak. We know people share our ambition for High Peak and our towns like Glossop – ambition that is completely compatible with the objectives of the Levelling Up agenda – so it’s great that our bid is in and we look forward to hearing the decision later this year.”
Nottingham City Council is submitting bids totalling £57m to the Government’s Levelling Up Fund to unlock Nottingham’s potential by bringing about massive changes to the city’s Broad Marsh area, Bulwell town centre and the Island Quarter.
The 20-acre Broad Marsh site is one of the most significant City Centre development sites in the UK, with neighbouring streets and buildings already undergoing a transformation and strengthened connections to improved tram, train, bus and cycle networks.
Following the collapse of intu, owners of the former shopping centre, the City Council established the independent Greater Broad Marsh Advisory Group to oversee a bold new vision for the site, informed by an extensive public engagement through the Big Conversation and brought to life by world renowned urban designer Thomas Heatherwick.
If successful, the £20m Broad Marsh bid would prepare the centerpiece of the vision, the Frame of the derelict shopping centre, to be retained and reimagined into a unique space to bring people together in the city for play, performance and food, providing the necessary catalyst and confidence for private sector partners to invest.
This would unlock other key elements of the vision including:
The creation of 6,000 jobs, 750 homes and over 400,000 sq ft of commercial and business space
A ‘Green Heart’ providing a wildlife rich green space in the heart of the city centre
The rejuvenation of Nottingham’s unique cave network to boost tourism and World Heritage status
A potential cultural anchor tenant.
Bulwell town centre sits in the tenth most deprived constituency in England and is in need of investment which will boost pride in the area, improve key amenities and links to transport services. Nottingham’s £20m bid for Bulwell would see:
The creation of a new Bulwell Promenade through substantial enhancements of green space and public realm alongside the River Leen
Improvements to the market place and urban greening
The restoration of heritage buildings
Easier access for all and better connectivity between Bulwell Bogs, tram stop, bus station, market place and high streets.
The 36-acre Island Quarter site is 500m from Nottingham Station yet had been derelict and blighted for over three decades before work started on the first phase of a major redevelopment.
The £17m Levelling Up Fund Island Quarter bid, being submitted on behalf of developers Conygar, focuses on renovating three heritage warehouse buildings at the heart of the site, bringing them back into productive use providing a community open theatre and much needed creative and digital studio space, and connecting them into the city and local neighbourhoods. Access would be improved for pedestrians, cyclists and vehicle users with an upgraded junction connecting the site to the Sneinton community.
City Council leader, Cllr David Mellen, said: “We believe that Broad Marsh is perhaps the most significant development site in the country right now and that our ambitious proposals offer a chance for Nottingham to re-imagine the future of city centres and uplift not just the Broad Marsh, but support jobs and growth for the wider city and region, unlocking benefits for us all and future generations.
“A successful bid for the Frame would help unlock the wider vison for a new ‘green heart’ for the city, rejuvenating the caves and creating new homes, jobs and business opportunities. We would also look to increase footfall, visitor numbers and cultural participation ahead of development getting underway, through a programme of events and activities which continue the Big Conversation and engage people in shaping the future of their city centre.
“Bulwell town centre has great potential which deserves to be realised and our bid will enhance some of the key elements that make the town special. The market and the riverside area will be given the love and attention they need, along with the sort of shopfront rejuvenation which has made such a difference in parts of the city centre and thoughtful public realm improvements including a Bulwell Promenade.
“The Island Quarter is a key site next to the city centre for which ambitious plans are already underway but support from the Levelling Up Fund would help enhance further creating opportunities and improving access for local communities.
“These bids are the absolute essence of what Levelling Up should be all about, so we are hopeful of success.”
Lilian Greenwood, MP for Nottingham South, said: “Regeneration of Broad Marsh has been long overdue and the project is a top priority for our city.
“Access to Levelling Up Funding would ensure the completion of the project and would provide a unique opportunity for local residents and businesses to secure and create jobs and generate major investment.
“As supported by many Nottingham residents, the funding would also allow for new green space to be created as part of the redevelopment, supporting the city’s ambition to be carbon neutral by 2028.”
Greg Nugent, chair of the Greater Broad Marsh Advisory Group, said: “This is amazing progress on Broad Marsh, rooted in the vision we love but practical next steps needed to start the big build. This is an unmissable opportunity for Government and the whole idea of levelling up to unlock our potential as a city.”
Alex Norris, MP for Nottingham North, said: “Bulwell is a fantastic community with a thriving market, but the growth of online shopping combined with the current cost of living crisis has hit the town centre hard. This ambitious bid gives us the opportunity to really boost the area and I’m proud to give it my support.”
Robert Ware, Chief Executive of the Conygar Investment Company, said: “While Conygar already has investment in place to support the regeneration of The Island Quarter and its various phases that make up the site, the Levelling Up Fund will allow us to accelerate our work so that Nottingham can make the most of the economic benefits of The Island Quarter as quickly as possible.
“With monies from the fund, Conygar will be able to proceed immediately with the refurbishment works to the two incredible heritage warehouses on the site to bring them back to life.”
Nick Ebbs, chair of Nottingham’s Growth Board, said: “The city’s bids can deliver what Levelling Up aims to achieve – investment in infrastructure that can make a real difference to local communities; creating jobs and opportunities for people and businesses in Nottingham, Nottinghamshire and the wider East Midlands region.”
The Bank of England has announced that it will increase interest rates by 0.5% to 1.75% in a bid to bring inflation under control.
It is the biggest rise in interest rates for 27 years, acts as another risk to business confidence, and comes amid a forecast that the UK economy will contract for five consecutive quarters.
Scott Knowles East Midlands Chamber (Derbyshire, Nottinghamshire, Leicestershire) Chief Executive Scott Knowles said: “The Bank of England’s bleak forecast signals a struggle ahead for businesses, their employees and customers given the precarious state of the economy, but there is hope of improvement in the medium to long term if they get the support urgently needed.
“Spiralling costs – from energy, fuel, people and raw materials – are cited by firms as by far and away the top concern right now, with 62% of East Midlands companies telling us they expect to be forced into raising their own prices in our latest Quarterly Economic Survey for Q2 2022.
“There are many causes of the current inflation crisis – global supply chain problems, trade barriers, soaring energy costs, increased taxes and labour market shortages – and this combination has caused very real crises in both the cost of living and cost of doing business.
“Interest rate rises alone will do little to address these and there is a risk it will continue to stifle investment among small businesses, which often require loans that are quickly becoming more expensive to service.
“With investment intentions among our region’s firms down – by 6% compared to the previous quarter for plant and machinery, and by 3% for training – the direction of travel by the Bank of England does not appear to offer much hope this will change.
“With the incredibly tight labour market putting upward pressure on inflation and long-term confidence beginning to wane, it’s crucial the Government now works with the private sector to come up with a solution that will enable business to drive the growth that can minimise the impact of the forecast recession.
“This should include reducing the costs for small businesses to invest in upskilling their workforce and providing training-related tax breaks, as well as reforming the shortage occupation list to allow sectors facing urgent demand for skills to get what they need.”
Alpesh PalejaAlpesh Paleja, CBI lead economist, said: “The Bank of England’s latest rate rise is the biggest in 27 years, and follows in the footsteps of strong tightening by other central banks. It underscores the seriousness of our inflation problem, but also demonstrates the MPC’s willingness to act in response.
“Despite early signs of some pipeline price pressures fading, it’s clear that we’re in for a hard winter. With another hefty rise in Ofgem’s energy price cap looming, support for the most vulnerable households and businesses should be kept under review.
“Monetary policy is the first line of defence against inflation, yet building resilience to future price shocks requires a concrete plan for economic growth. So the new Prime Minister must prioritise boosting productivity through greater business investment via incentives and business rate reforms. Meanwhile, investing in energy efficiency can support people struggling with the cost-of-living crisis.”
Martin McTague of the FSBFederation of Small Businesses (FSB) national chair Martin McTague said: “The need to get a grip on inflation is clear, with costs at a record high for 89% of small businesses according to FSB’s latest Small Business Index – driven by fuel, utilities, inputs, labour and tax hikes.
“Moving interest rates is not without consequences: it’s removing steam from the economy at a time of meagre growth. Small businesses already face grave uncertainty as they try to recover from the impact of Covid, while contending with the cost of doing business crisis.
“First, many commercial, personal and professional loans that small businesses and sole traders hold are not protected by fixed rates and will move in line with the increase today. In a situation where inflation is already putting many small firms in extremely difficult conditions, there is now further concern that these businesses will face higher costs in paying back their loans.
“Second, attempts to get back to a functioning commercial lending market will be hampered as new products will become more expensive – and so small firms will find it harder to access affordable credit. The British Business Bank’s Recovery Loan Scheme is coming back later this month, and this could not happen soon enough. If the economy slows in autumn, it will be even more important for the scheme to be operational and in place, so it can be flexed up.
“Hard-working individual business owners are also already fighting an uphill battle with supply chain disruption, increasing utility bills and surging fuel prices. Action must therefore be taken on other challenges that small businesses face.
“Many members are reporting mushrooming energy bills multiplying by four or five times in recent months. Small business energy customers don’t benefit from consumer protections, nor do they have the negotiating power of their larger counterparts, making utility bill inflation especially tricky to handle. Struggling micro-businesses should be offered help on energy costs to match that being given to households.
“The Government should also be looking at other measures to ease soaring costs of doing business, such as a reversal of the hike in National Insurance, cutting VAT and fuel duty, and introducing new reliefs on business rates.
“The cost of living crisis can’t be solved without at the same time solving the cost of doing business crisis; we must bring down inflation, but the negative aspects of today’s hike make the case stronger for small business support as thousands upon thousands of small firms will have less financial room to manoeuvre.”
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