Employment Bill will wreak havoc on already fragile economy, says FSB
Small firms are tightening their belts on jobs, with potential changes that will expand the grounds for unfair dismissal and higher sick pay costs at the top of their list of worries, research from the Federation of Small Businesses (FSB) shows.
New data shows that in the last quarter of 2024, 33 per cent of small employers said they expect to reduce staff, up from 17 per cent in the previous quarter.
Fewer businesses are also looking to hire – with only 10 per cent of small employers planning to take on more staff, down 14 per cent from the previous quarter. Meanwhile, 56 per cent expect to keep their workforce the same.
Elsewhere, 51 per cent of small employers say labour costs are one of the greatest barriers to growing their business.
The upcoming Employment Rights Bill is also causing dread among the small business community, and in response to a separate FSB survey last year, 75 per cent of small employers highlighted fears relating to unfair dismissal changes, while 74 per cent raised concerns about changes to Statutory Sick Pay (SSP).
In fact, two thirds (67%) of small employers say the proposals in the Employment Rights Bill would make them curb hiring and one third (32%) plan to reduce the number of employees they have before the measures are introduced.
Tina McKenzie, FSB’s Policy Chair, said: “The figures speak for themselves – plans to allow employees to sue their employers on their first day on the job will wreak havoc on our already fragile economy, while changes to Statutory Sick Pay will make employers think twice about their hiring plans.
“Of course, existing protections against unfair dismissal for protected characteristics from day one are essential and should remain. But extending these rights to any and all cases from day one risks opening the door to frivolous claims.
“Ministers should recognise the risk to jobs and resist any approach that comes across as out of touch with business reality, instead of brushing off their concerns.
“The Prime Minister should ditch these reckless changes to unfair dismissal and reinstate the one-year qualification period that worked under the last Labour Government. It’s a zero-cost fix that would show he understands what it takes to create and sustain jobs.
“If taking on staff becomes a legal minefield, businesses will simply stop. That means more people on benefits, a ballooning welfare bill, and a devastating hit to living standards. Those who will be shut out of work because of this Bill deserve better from the Government.”
Camping World secures $2.15 billion credit facility for expansion
Camping World Holdings has amended its floor plan credit agreement, increasing its borrowing capacity by $300 million to $2.15 billion. The agreement, dated February 18, 2025, also resets an accordion feature, allowing access to an additional $300 million for future growth.
Led by Bank of America and J.P. Morgan, the facility supports Camping World’s expansion plans. It provides financial flexibility to grow its dealership network and strengthen partnerships with major RV manufacturers, including Thor, Forest River, and Winnebago.
HSBC cuts jobs, delays net-zero targets in cost-saving push
HSBC is cutting jobs and delaying its net-zero emissions targets as part of a broader effort to reduce costs. The bank aims to save $1.5 billion (£1.2 billion) by 2026 by cutting global staff costs by 8%, primarily affecting senior roles within its newly merged wholesale corporate and institutional division.
While HSBC has not disclosed the number of job losses or a country-specific breakdown, CEO Georges Elhedery confirmed that the UK head office will see the most significant impact. The restructuring follows a shift to an East-West operational model and consolidates two of the bank’s three main divisions. HSBC is also scaling back its mergers and acquisitions banking operations in the UK, Europe, and the US.
The bank also announced it is pushing back its goal to achieve net-zero emissions in its operations and supply chain from 2030 to 2050. HSBC will review its 2030 emissions reduction targets for sectors such as oil and gas, power, aviation, and steel, with findings expected later this year. Despite this shift, HSBC remains part of the Net Zero Banking Alliance.
Work starts on new £5m children’s home
A ground-breaking ceremony has taken place at a £5 million purpose-built children’s home being developed by Derbyshire County Council to provide essential short-break and long-term care for children and young people with significant disabilities and complex learning needs.
County council officials joined project design and build partners at the ceremony at Spire Lodge in Chesterfield.
The home, situated on the Ashgate Croft School campus, will offer tailored support and create a nurturing environment for children and their families, supporting the council’s commitment to improve services for children with special needs and disabilities (SEND).
The Derbyshire County Council-funded project has been designed by the authority’s design consultant partner Concertus and is being built by construction partner Stepnell.
Principal Architectural Designer from Concertus, Andrew Elliot said: “We are excited to be part of such a vital project for young people in Derbyshire, which will provide residential facilities in new flagship accommodation. We are pleased to further collaborate with our appointed contractor Stepnell and strengthen our positive working relationship with our client Derbyshire County Council.”
Tom Sewell, Regional Director at Stepnell, said: “Our work at Spire Lodge shows how an effective construction process can have positive impacts not only on end users but also the wider community. The finished facility is set to provide such essential care for children and young people that need it the most, and we’re proud to have been involved.
“The project is one example within a collection that we’ve had the opportunity to be part of alongside both Concertus and Derbyshire County Council, both of which are partnerships that we’re looking forward to continuing in our work across the region.”
Derbyshire County Council Cabinet Support Member for Education, Councillor Robert Flatley said: “It was great to join with the council’s design and build partners to mark the start of construction on the new Spire Lodge children’s home.
“Alongside the £7.5 million investment into new children’s homes recently approved by the council’s Cabinet, projects like these demonstrate our continued and long-term commitment to supporting some of the county’s most vulnerable children and young people.
“The new children home features a bespoke design to support children in an individual but social environment in the heart of the community, with local shops, amenities, and parks nearby and is next to Ashgate School where some of the children will attend.
“I was particularly pleased to hear about the provision the home gives to children in care with disabilities and how it builds a bridge to adult services, supporting families in managing transitions and helping to maintain education placements. l look forward to seeing the building’s completion offering an exciting new chapter of memories and experiences for the children and young people of Spire Lodge.”
The site is due to open in November 2025.
Payment Assist expands leadership team
Provider of flexible payment solutions in the automotive sector, Payment Assist, has expanded its leadership team with two new appointments.
With decades of experience in consumer lending, automotive finance, and digital payments, Richard Sharp, as Chief Operating Officer, and Chris Masters, as Chief Payments Officer, are implementing a future-forward strategy to enhance Payment Assist’s offerings further.
Richard brings a wealth of experience to Payment Assist, having spent 25 years in consumer lending. His career includes working within the motor finance, unsecured and secured lending markets in various executive positions for large-scale PLCs and challenger banks.
Richard’s expertise in regulated financial services, risk management, customer experience, and operational efficiency makes him a great asset in the growth strategy of Payment Assist.
As Chief Operating Officer, Richard is leading the company’s transformation efforts, focusing on digitalisation, enhancing the customer journey, and making sure operations are as resilient as possible. He is also overseeing Payment Assist’s preparation for full FCA regulation, ensuring compliance without compromising efficiency.
Richard said: “I am absolutely delighted to be joining Payment Assist at such an exciting time for the business. We have ambitious growth plans, and I’m excited to bring my experience in transformation, change, and improving our customer experience, as well as implement risk management measures so that we remain compliant and efficient as we grow.”
Chris has spent 18 years in the automotive sector and has worked with some of the UK’s biggest retailers and partners.
He initially worked for the digital media business Motors.co.uk, building relationships across the industry before moving to iVendi to lead business development. During this time, Chris gained valuable insight into customer behaviour and purchasing trends, particularly as the business shifted towards online transactions.
His move into payments came in 2018 when he began working with online payment solutions, helping automotive businesses transition to e-commerce. Now, as Chief Payments Officer at Payment Assist, he leads on commercial strategy, marketing, and product innovation.
Chris is focused on optimising Payment Assist’s payment processes and developing a next-generation platform that makes transactions seamless for automotive retailers and garages alike.
Chris added: “We have a fantastic foundation from our consumer finance products, but it’s our vision to develop and deliver a best-in-class payment platform for our network. The motor industry is an amazing sector to work in, with lots of forward-thinking businesses; we want to support them with a solution that will be at the forefront of technology.
“We’ve structured our teams to create dedicated support for customers and partners, which ensures that payment processing is easy and accessible for businesses.”
Trent Bridge Care Home scoops Best Architectural Design at Healthcare Design Awards
The team behind Trent Bridge Care Home are celebrating after winning Best Architectural Design at the Healthcare Design Awards.
The home, developed and operated by Tanglewood, was up against strong opposition across the country, including a £35m, 40 bedroom Learning Disability scheme in Liverpool, Dyson Cancer Centre in Bath, Edenbridge Memorial Health Centre in Kent, Melwood Grange care home in Ryston, and Whitstable House in Whitstable.
Designed by C Squared Architects, Trent Bridge Care Home is a luxury new facility offering residential, dementia, and respite care located in West Bridgford.
The interiors, designed by Care Home Interiors, focuses on the location near sports facilities, to make Trent Bridge Care Home one of a kind.
The design was developed with the residents who would be living there in mind, resulting in a home which is community focused, making it a welcoming place with plenty of room for community groups, meetings, and events.
Offering 72 bedrooms arranged over five storeys with a rooftop terrace on the sixth floor, it is set on a comparatively small and irregular-shaped site.
Four residents’ communities are created, one per floor, above ground floor level. Each community has a maximum of 18 residents and these are supported by their own open-plan lounge/dining room and separate quiet lounge. In addition, each floor has an assisted bathroom, assisted WC, and ancillary rooms.
The home also has communal facilities on the ground floor including a bistro café, activity room, garden lounge, hair and beauty salon, and a cinema/multi-purpose room.
Each community has access to the outdoors with a range of spaces, whether that be from a secure large balcony off the lounge/dining room, the ground-floor communal gardens, or the communal rooftop terrace which has views across the Nottingham skyline and directly into Trent Bridge Cricket Ground.
The residents’ lounge and dining rooms have been located in a central location where the two 8/10-bedroom wings meet for ease of wayfinding.
The interior has been thoughtfully designed with dementia in mind, with short corridors, lots of natural light, and destination points, as well as utilising colour, light, texture, and materiality to support the care needs of the residents.
The judges said: “This blew us away. It was very brave to choose such a city centre location next to very, very busy roads, but we have rarely been to a care home so warm and welcoming from the moment you walk in.
“The residents we spoke to loved it there. There are so many great breakout areas and the verticality shortens travel times for residents who may have issues with mobility. The whole building feels light and airy and it has been extremely cleverly designed.
“We have this mental image of a care home as being typically suburban, low level, and often sprawling, and this is really showing a different way of doing things and could lead to a paradigm change. This cannot have been an easy brief, but it has been done very, very well.”
The home also has communal facilities on the ground floor including a bistro café, activity room, garden lounge, hair and beauty salon, and a cinema/multi-purpose room.
Each community has access to the outdoors with a range of spaces, whether that be from a secure large balcony off the lounge/dining room, the ground-floor communal gardens, or the communal rooftop terrace which has views across the Nottingham skyline and directly into Trent Bridge Cricket Ground.
The residents’ lounge and dining rooms have been located in a central location where the two 8/10-bedroom wings meet for ease of wayfinding.
The interior has been thoughtfully designed with dementia in mind, with short corridors, lots of natural light, and destination points, as well as utilising colour, light, texture, and materiality to support the care needs of the residents.
The judges said: “This blew us away. It was very brave to choose such a city centre location next to very, very busy roads, but we have rarely been to a care home so warm and welcoming from the moment you walk in.
“The residents we spoke to loved it there. There are so many great breakout areas and the verticality shortens travel times for residents who may have issues with mobility. The whole building feels light and airy and it has been extremely cleverly designed.
“We have this mental image of a care home as being typically suburban, low level, and often sprawling, and this is really showing a different way of doing things and could lead to a paradigm change. This cannot have been an easy brief, but it has been done very, very well.”
Loughborough event firm snapped up following fall into administration
veSpace, the Swindon-based venue, event and production company, has expanded its portfolio of businesses with Noble Events.
veSpace has acquired the trade and assets of the Loughborough-based event firm, which also has an office in Dubai, following its fall into administration.
FRP Advisory were recently appointed administrators of the business, which has been delivering events since 2008, holding long-term partnerships with major global brands such as Bentley Motors and Honda.
veSpace said: “We are delighted to announce that veSpace International Limited has acquired the trade and assets of Noble Events Limited; an award-winning agency who works with some of the worlds’ leading brands. This addition extends our incredible portfolio of companies.
“Their culture, ethos and team spirit absolutely echo our own brand values. Under the veSpace umbrella, Noble Events will have continuity of service for their clients and security for the talented team members.”
Speculative development starts on final phase at Derby manufacturing hub
Indurent, a developer, owner and operator of industrial and logistics space across the UK, has started the speculative development of the final phase at Indurent Park Derby, the 50-acre estate for high-tech manufacturing, R&D and logistics.
The new unit, which will incorporate 43,000 sq ft of Grade A office space, will be delivered to the Indurent Code for sustainable development and target BREEAM ‘Excellent’ for sustainability and EPC ‘A’ for energy efficiency.
Originally conceived as a seven-year, six-phase scheme, Indurent Park Derby will be completed in just four years in response to high demand in the region for modern industrial workspace with strong ESG credentials.
The Park is currently home to Rolls Royce, which occupies a 148,000 sq ft facility completed in 2024, as well as heat pump manufacturer Vaillant, Swedish medical technology company Getinge, and a national training centre for Kia.
Winvic Construction Ltd is the principal contractor for the final phase, having successfully delivered the previous three phases at the Park.
Rob Richardson, Development Director at Indurent, said: “The start of the final phase at Derby is a significant milestone and the accelerated development programme underlines our conviction for the location as one of the UK’s fastest-growing manufacturing hubs.
“The Park is home to a wide range of businesses and supports hundreds of high-skilled jobs, reflecting the adaptability of modern industrial buildings. We anticipate strong interest in the final unit as demand for modern, high-spec space in the region continues to outweigh supply.”
Danny Nelson, Managing Director – Industrial, Distribution & Logistics at Winvic, said: “We’re proud to continue our partnership with Indurent, delivering the final phase of Indurent Park Derby – a testament to our commitment to supporting our clients in meeting the demand for high-quality, sustainable, manufacturing, R&D, and logistics space.
“As with the earlier phases we’ve successfully completed, our expertise and strong collaboration will support us in meeting the fast-track programme and we look forward to handing over the project in December 2025.”
Knight Frank and Savills are instructed as agents on the final unit.
Howden expands aviation insurance with Forbes and Hill acquisitions
Howden has acquired Forbes Insurance Limited and the book of business from Hill Aviation Insurance Services Limited, strengthening its aviation insurance capabilities in the UK. Both companies will be rebranded under Howden and integrated into a new retail aviation division within Howden UK&I.
Forbes Insurance, based in Leicestershire, specializes in aviation coverage for airfield operators, maintenance firms, product suppliers, and aircraft owners. CEO Terry Moyes will lead Howden’s aviation division and oversee a new Leicester office. Hill Aviation, founded in 1991 in North Yorkshire, will transfer its book of business to Howden, with founder Steve Hill retiring from the industry.
The expansion adds to Howden’s network of over 200 UK and Ireland locations and aligns with its strategy to enhance specialist expertise.
Rising inflation puts pressure on East Midlands businesses
Inflation climbed to 3% in January, up from 2.5% in December, marking a 10-month high, according to the Office for National Statistics. The increase surpasses the Bank of England’s 2% target and could force businesses to raise prices.
East Midlands Chamber reports that inflation remains a significant concern for local businesses, with 60% expecting to increase prices, according to its Quarterly Economic Survey. Rising costs, including the upcoming National Insurance hike in April, add further strain.
The Bank of England’s response is now in focus, as the inflation spike may delay expected interest rate cuts in March. Economists still anticipate rates to fall later this year. Business leaders urge the government to provide economic stability and targeted support in its upcoming spending review.
