Derbyshire developer makes grand gesture to High Peak Homeless Help
Voluntary business closures increase as tougher economy hits hard
Tougher economic conditions are taking their toll on local businesses, with increasing numbers closing down voluntarily as trading conditions become untenable.
The warning comes from the Midlands branch of insolvency and restructuring body R3 and follows latest statistics published by the Insolvency Service which show that corporate insolvencies in England and Wales increased by 5.5% in August 2022 to a total of 1,933 compared to July’s total of 1,832, and by 43.4% compared to August 2021’s figure of 1,348.
August 2021’s corporate insolvency numbers were also 41.6% higher than the August 2019 figure of 1,365.
R3 Midlands chair Eddie Williams, a partner at PwC in the East Midlands, said: “The monthly increase in corporate insolvencies – to the third highest set of monthly statistics since January 2019 – has been caused mainly by an increase in the number of Creditors’ Voluntary Liquidations.
“This suggests that directors remain concerned about their ability to continue to trade in the current climate and are choosing to close their businesses before that choice is taken away from them.
“These figures will be a sobering reminder to the UK government of the scale of the challenge facing our local economy as we head into the winter months. Companies are trying to overcome enormous running cost hikes just as household spending is facing its biggest squeeze in several decades.
“All of this delivers yet another blow to business owners who were hoping to bounce back after the pandemic to normal trading levels.
“For those businesses with cashflow issues, now is the time for its directors to seek advice from a qualified professional, rather waiting until the problem worsens.
“Most R3 members will give an hour’s free consultation to potential clients to enable them to understand more about their circumstances, and to outline the options available to help them improve their situation.”
Nottingham academic appointed to Academic Advisory Group on accounting standards reform
East Midlands businesses claim £330m for R&D
SureScreen Diagnostics set for national recognition as it’s picked to fly the flag for the East Midlands
Derbyshire medical test manufacturers SureScreen Diagnostics has been recognised as the pride of the East Midlands after it was put forward for a national business award for its rapid growth.
The company, based in Derby, has reached the finals of the British Chamber of Commerce Business Awards, which is a national search for companies who have best typified business excellence over the past two years.
SureScreen was successful at the East Midlands Chamber’s annual awards last year, picking up the Outstanding Growth, Excellence in International Trade and Excellence in Innovation awards, as well as the overall Derbyshire Business of the Year award.
It is now the East Midlands Chamber’s nominee for the national BCC awards’ Rapid Riser award, for companies who can demonstrate exceptional levels of growth and a strong plan for sustainable financial performance.
It is one of 11 companies from across the UK on the national shortlist for the Rapid Riser award, with the winner set to be announced in mid-October.
SureScreen won plaudits after developing the first European Lateral Flow Test to pass Public Health England laboratory validation during the pandemic, however, is known in the medical industry for a wide range of tests from fertility screening to workplace drugs of abuse testing.
Manufacturing out of a new, state-of-the-art production and distribution centre just off the M1, SureScreen exports to more than 60 countries worldwide, and continues to innovate, with recent development of rapid tests for Monkeypox.
Alastair Campbell, a director of the company, said: “We are so grateful to be recognised for such a prestigious award, it is really a testament to the team’s hard work over many years.
“Since the recognition last year we have certainly not stood still, and we are building new technologies and tests that we believe will have huge impacts on people’s health.
“Now that rapid testing is a much more accepted practice across the world, we believe there are huge opportunities for healthcare to increase the prevention of illnesses, by catching issues early using cost-effective, accurate rapid tests. This could help save lives and reduce the costs and pressures on healthcare.”
Property consultancy makes raft of promotions across East Midlands
Browne Jacobson hits top tier in latest Legal 500 rankings
- Tier 1 ranking for the firm’s Local Government team in London, with the firm now ranked Tier 1 in that region for three public sector areas, including Education and Healthcare.
- First time rankings for Local Government and Energy, Project Finance & PFI in the West-Midlands, Commercial Litigation and Banking & Finance in the North-West and M&A: Smaller Deals up to £50M in London.
- 33 partners ranked as ‘Leading Individuals’, 15 named as ‘Next Generation Partners’, 15 rated as ‘Rising Stars’ and seven individuals listed in the Legal 500 Hall of Fame which recognises partners who are at the pinnacle of the profession.
Oberoi Business Hub welcomes new firms
Sofware provider secures funding from MEIF Maven Debt Finance
New high profile non-exec chair for law firm
Construction company fined £80,000 after worker falls through fragile roof
Howes Percival recommended for 23 different legal specialisms in The Legal 500
- Corporate and Commercial
- Dispute Resolution – Commercial Litigation
- Dispute Resolution – Debt Recovery
- Finance – Insolvency and Corporate Recovery
- Human Resources – Employment
- Private Client – Tax, Trusts and Probate
- Real Estate – Commercial Property
- Real Estate – Environment & Planning
- Real Estate – Property litigation
- Intellectual Property
Derbyshire in talks with government for investment zone
- lower taxes – businesses in designated sites will benefit from time-limited tax benefits including 100% business rates relief on newly occupied and expanded premises; full stamp duty land tax relief on land bought for commercial or residential development; and a zero rate for Employer National Insurance contributions on new employee earnings up to £50,270 per year. Councils hosting investment zones will receive 100% of the business rates growth above an agreed baseline in designated sites for 25 years.
- accelerated development – there will be designated development sites to both release more land for housing and commercial development, and to support accelerated development. The need for planning applications will be minimised and where planning applications remain necessary, they will be radically streamlined. Development sites may be co-located with, or separate to, tax sites, depending on what makes most sense for the local economy.
- wider support for local growth – subject to demonstrating readiness, mayoral combined authorities hosting investment zones will receive a single local growth settlement.
Oblix Living acquires Leicester former HMRC building
Latest feats from Chesterfield’s Proact IT tackles tally raised for Bluebell Wood Children’s Hospice to £14,000
BHW achieve tier 1 rankings for both corporate/commercial and commercial property work
Nottingham trials UK’s first wireless electric taxis
- Easy and convenient charging – drivers will be able to start a charge while waiting for passengers by driving over the pad without needing to leave their vehicle
- Reducing street clutter – no charging cables are required as the wireless charging equipment is built into the road surface
- Encouraging the adoption of more electric taxis in the city, which will lead to a reduction in emissions and help the city to achieve its 2028 carbon neutral target.


