Late payments stifling small businesses

Tess Egginton
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Late payments stifling small businesses
The Federation of Small Businesses (FSB) has released a report that uncovers the true scale of damage caused by the late payments crisis as entrepreneurs say: “enough is enough.” Time is Money: The Case for Late Payment Reform, exposes the insufficient measures in place to hold big businesses to account and calls for a level playing field for smaller firms. This comes alongside a Department for Business and Trade (DBT) prompt payment and cash flow review, which ends in Spring, and looks at improving arrangements to support small businesses experiencing difficult payment practices. Findings include on average through 2022, quarter-on-quarter:
  • 52% experienced late payment.
  • 25% reported increased late payment.
  • The most affected sectors include education, construction, administrative, professional, scientific, transportation, IT, arts and human health and social work.
  • Small businesses in south-east and east of England, and Northern Ireland were more likely to experience late payments.
The report highlights the impact of late and delayed payment on small businesses and the public’s expectations around prompt payment:
  • 37% of applied for credit to manage their cashflow.
  • 62% of the British public say businesses should be paid within a week.
  • 55% of the British public would support more controls.
Time is Money contains proposals for the Government, including:
  • Give audit committees of large firms oversight of payment practices and reporting on progress in their annual report.
  • Publicly commit to limit the maximum payment terms to small suppliers in law by 2027 if the situation does not improve.
  • Bar late payers from public procurement contracts.
  • Impose 30-day payment terms, which should be a maximum throughout supply chains.
  • Mandate the Small Business Commissioner to investigate potential instances of poor payment proactively, instead of only when a complaint has been made.
  • Make the Prompt Payment Code (PPC) mandatory for all local authorities.
  • Create a new local authorities Payment Practice League Table with financial incentives for those at the top and bottom for England.
FSB development manager Natalie Gasson-McKinley MBE said: “Enough is enough. Late payments in the UK have continued to spiral out of control, while since 2019 Ministers lost the momentum and enthusiasm to make a difference. “We now need to reinvigorate this agenda, and to push for growth and productivity – the best way to do this is to sort out the UK’s poor payment culture. Our report highlights the urgent need for change and the importance of fair payment practices, and sets out a clear set of reforms. “Small firms are already being stretched beyond their limits with rising energy bills, rampant inflation, and a mounting cost of living crisis. Cash flow is already tight, and that is compounded by being kept waiting months for invoices to be paid, which a serious roadblock to growth and investment. “This also hinders productivity due to the excessive time and effort expended on chasing late payments. It’s a double whammy that is stifling business success, and in turn holding back the UK’s economic recovery – but is something that’s entirely avoidable. “Big businesses shouldn’t be using small firms as a bank. It’s time for them, too, to step up and take responsibility for poor payment practices. “These reforms will make a clear difference to the bottom lines of small firms right across the economy. Thousands of small firms are unnecessarily going bankrupt every year due to late payment practices. We are determined to eradicate this issue and the current Government could use Time is Money as a catalyst for change.”

New housing development in the centre of Grimsby takes a step forward

Tess Egginton
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New housing development in the centre of Grimsby takes a step forward
Proposals for a new housing development in the centre of Grimsby will be taken forward following a North East Lincolnshire Council Cabinet meeting. The Town Centre Masterplan identified the Alexandra Dock area as a major asset for Grimsby, with significant potential for it to be used in a more intensive way, including development of a major residential district, which takes advantage of access to the water space and key improvements to the nearby spaces and facilities available. Brownfield land near Alexandra Dock was identified in the Grimsby Town Centre Masterplan as a key area that could be used to generate that new housing stock. Cllr Philip Jackson, leader of the council, said: “Our main objective of this work is to create a place that connects the town and its community with its waterside, creating a fantastic urban living environment that’s kind to the planet. “There’s a long way to go yet, and developments of this scale don’t happen overnight. We are working to improve the town centre as a whole, including increasing the leisure offer with our redevelopment of the western end of Freshney Place, and, through other Towns Fund projects, changing how the town is used as a whole.” The first housing phase is proposed to be the site behind the Onside Youth Zone, accessible from Fisherman’s Wharf. The area was put forward, and formed part of, the Towns Fund projects that were agreed with Government in 2020/21. Significant recent work has been done with Homes England to consider how the opportunities for the area might be taken forward. The council has managed to secure funding from Homes England, which has funded initial studies into the potential regeneration of Alexandra Dock. Further discussions are ongoing to try to secure additional funding for initial technical studies required to progress the plans for the area, and to start the procurement of a development partner to work with the council on this scheme. Alongside this, it’s planned to submit a bid to the Brownfield Land Release Fund, administered by One Public Estate (a locally-led partnership in partnership with DLUHC, funding works to regenerate public sector owned land and buildings). If secured, this money would increase the available budget to help deliver higher quality ultra-low-carbon homes. Some initial land remediation work will be done this year to begin preparing the site for future phases of the work. Public will be able to have their say about the plans as the project develops.

Rejection of proposal for new homes in Hinckley successfully appealed

Tess Egginton
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Rejection of proposal for new homes in Hinckley successfully appealed
Planners at Harris Lamb have successfully appealed against a decision to reject proposals to build 40 new homes in Hinckley on the grounds of increased traffic. Hinckley and Bosworth Borough Council rejected plans put forward by Central England Cooperative last August to develop 40 new homes and public open space on land off Workhouse Lane in Burbage, claiming that the proposed development would create significant problems to pedestrians and road users due to increased traffic levels. However, following an appeal hearing and site visit held last month, the Planning Inspectorate overturned the decision, stating that there was little convincing evidence to show that traffic levels and the claimed deficiencies in the configuration of the road currently cause a significant highway or pedestrian safety problem, ruling that the development should be allowed to go ahead. Jonathan Edwards, the inspector appointed by the Secretary of State to oversee the appeal, this week returned his decision, stating: “From the evidence and my observations, it would seem that Workhouse Lane and Britannia Road currently experience fairly low levels of traffic. “The Leicestershire County Council highway officer accepts the appellant’s trip rate predictions of 24 additional two-way trips during the morning peak hour and 25 additional two-way trips in the evening peak hour. These figures indicate the development would generate only a modest increase in vehicular movements. “Interested parties have raised other highway safety concerns, although none of these are supported by the LCC highways officer. The modest level of traffic generated by the proposal would be safely accommodated on local roads and without severe impact on the operation of the network. “Also, any extra traffic would not unduly undermine the safety of pedestrians on Britannia Road, even though roadside pavements are not continuous along its entire length. No significant problems have been identified through the appellant’s transport assessment in respect of any nearby road junctions.” He added: “Despite concerns, there is no sound reason to consider the assessment is inaccurate or flawed. Through the reserved matters process, sufficient parking can be secured within the development to avoid inappropriate parking on local streets. As such, the concerns raised do not show the proposal would prejudice highway safety.” Simon Hawley of Harris Lamb’s Planning Consultancy, who prepared the appeal on behalf of Central England Cooperative with his colleague Josie Hobbs, said: “We are delighted that the Planning Inspectorate has reviewed Hinckley and Bosworth Borough Council’s objections and overall decision and upheld our appeal. “We strongly believe that the proposed homes will boost the supply of homes within the area, and that through the provision of affordable housing, there is a significant need for developments of this kind. We are pleased that other objections put forward by the authority regarding insufficient access to health and recycling facilities for new residents were also addressed and dismissed by the Inspector.”
Partial costs were also awarded against the Council.

What do you get when you cross Prince Harry with ‘mascara’? By Greg Simpson, founder of Press for Attention PR

Tess Egginton
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What do you get when you cross Prince Harry with ‘mascara’? By Greg Simpson, founder of Press for Attention PR
Greg Simpson, founder of Press for Attention PR, discusses the importance of choosing your media opportunities wisely. What do you get when you cross Prince Harry with ‘mascara’? Well, national coverage in the tabloids and the BBC and a carefully considered conversation about Piers Morgan for a start. All of this happened for a client of mine very recently. You may have noticed that some chap called Harry had a book out? It is fair to say that it caused a bit of a stir! In it, he gets a heck of a lot off his chest. In fact, royalist or not, some might say…too much? That was a concern for one of my clients, the trauma expert, Danny Greeves. You see, there is a danger that when something so personal such as a family member’s death (Diana) gets major airtime, it can totally UNINTENTIONALLY trigger old traumas for a lot of people who do not have the support networks in place that others might. Danny and I discussed this on a recent catch-up call and together we pulled together a thought leadership piece on the topic, designed to position him squarely as an expert on trauma. It was my job to then find a home for it. It was found pretty swiftly in the Daily Mirror and across a fair few other websites too, including the New York Post. Now, the attentive among you will know that the Mirror was long the stalking ground of one Piers Morgan and that he is not the greatest fan of Harry and Megan. You might also recall that I spoke on stage to a national business audience, just before the man himself a year or so back – my word time flies! So when his team reached out to Danny and I to discuss whether he would appear on the show to cover the topic, we had some thinking to do.
  1. Massive national exposure.
  2. Right audience?
  3. Risks and rewards.
After careful reflection, we decided against the opportunity. This was not from any fear, Danny is a bona-fide expert, published author and multi-award winning therapist on both sides of the Atlantic. No, the concern was that the topic of trauma would be at risk of being skewed to an anti-Harry/Megan message or ‘woke’ bashing session rather than a discussion about trauma. That might then have reflected poorly on Danny as that is not what he was saying at all. Trauma is what Danny is an expert on. Not the politics and optics of Harry and Megan. You see, there is always a balance to weigh when these mega moments come up. We decided to stick to our knitting. Did it pay off? Well, who knows what may have come from that opportunity but mere days later, after some judicial Twitter research by yours truly, Danny was featured on the BBC. This time he was discussing the hidden dangers of codeword trends on social media, such as ‘mascara’, as they can trivialise very difficult topics. These words can be used to wangle around censorship filters on the likes of TikTok and according to the article Danny was featured in, the #mascara trend, which originated less than two weeks before the BBC chat, had racked up more than 100 million views. Was Danny right to turn down the Piers opportunity? I would argue that he wouldn’t get the BBC opportunity if he hadn’t and given his target market, that was the right call. Remember, the old adage that “there is no such thing as bad publicity” is utter BS! You want to be known for what you want to be known for by the folk you want to know you. Focus your attention on that at all times. A former business journalist, Greg Simpson is the author of The Small Business Guide to PR and has been recognised as one of the UK’s top 5 PR consultants, having set up Press for Attention PR in 2008. He has worked for FTSE 100 firms, charities and start-ups and conducted press conferences with Sir Richard Branson and James Caan. His background ensures a deep understanding of every facet of a successful PR campaign – from a journalist’s, client’s, and consultant’s perspective.   See this column in the March edition of East Midlands Business Link Magazine here.

Finland opens an honorary consulate in Nottingham

Tess Egginton
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Finland opens an honorary consulate in Nottingham
Finland is strengthening its presence in the East Midlands by reopening its honorary consulate in Nottingham. Ambassador Jukka Siukosaari joins Ian Baxter, the new Honorary Consul for the opening ceremony on 10 March. Mr. Baxter has been doing business with Finland for over 25 years in freight and logistics. He will now help develop opportunities for Finnish businesses and to serve as a focal point for the local Finnish community. Finland desires to have a stronger presence across all parts of the UK and sees Nottingham and the East Midlands as places with great potential to deepen economic and cultural ties. The UK has always been an important trading partner for Finland and in the past year Finnish trade to the UK increased by around 15%. The new Honorary Consul will be able to build on this by making Finland and its products better known in the region. Ian Baxter, Honorary Consul of Finland in Nottingham, said: “I am proud to take on the role of Honorary Consul of Finland, having been connected to the country since I was a boy through links established by my father. “I’ve done business with the country myself since 1995, visiting many times, establishing and growing a company there, and building close personal friendships. Finland is a beautiful, modern, progressive nation and a natural partner for the UK. I’m excited to play my small part in helping relations between our two countries to flourish.” Jukka Siukosaari, Ambassador of Finland to the United Kingdom, said: ”For the Embassy, our active honorary consuls are a valuable resource in promoting Finland all over the UK. Together with Mr Baxter we seek to identify new business opportunities and partnerships in Nottinghamshire.” Honorary consulates, such as that in Nottingham, augment Finland’s network of diplomatic missions, made up of embassies, consulate generals, consulates and other liaison offices. Honorary consuls are private individuals who take care of their tasks on a part-time basis without remuneration. Together with diplomatic missions, an honorary consul promotes economic and cultural relations between Finland and the country in question, and takes part in strengthening Finland’s image abroad. An honorary consul can advise Finnish companies, for instance, in obtaining information about local business culture and in finding cooperation partners.

Derbyshire partnership scoops first prize at prestigious awards ceremony

Tess Egginton
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Derbyshire partnership scoops first prize at prestigious awards ceremony
A Derbyshire partnership has just scooped first prize at the Building Communities Awards 2023. Private property insulation firm Westville, Amber Valley Borough Council, and Futures Housing Group fought off fierce completion to lift the collaboration award at this prestigious event for a joint venture they completed across Amber Valley. Over 250 homes benefitted from a mix of high-quality insulation, solar or a combination of the two, resulting in significant energy savings and reduced carbon emissions for hundreds of residents. The scheme was made possible by utilising grant funding from the Government’s Department for Business, Energy and Industrial Strategy (BEIS) and could not have come at a better time, as we continue to see energy bills soar. Sean Stevenson, Managing Director of Westville, said: “It’s great to win this award, which recognises how organisations work together to overcome challenges to achieve a common end goal. “However, the real win here is for residents in Ironville and Ripley. Participating households in Ironville should save on average £315 per year on their energy bills, while in Ripley, it is likely to be in the region of £540 per year. This will make a huge financial difference to them at a time when they need it most. “The overall success of this project is a real lesson in the benefits of private/public collaborative working, and I’m so pleased the judges recognised it.”

Green light for Lincolnshire college’s new learning centre

Michael Fisher
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Green light for Lincolnshire college’s new learning centre
A new bespoke learning centre for young people and adults studying at Boston College has been given the go-ahead – following support by planning experts at Marrons. The two-storey Mayflower building – which is one of the Boston Town Deal projects – will provide high-quality further education training facilities alongside public access spaces, including a cafe, restaurant, and hair and beauty salon, which will be managed by the college and staffed by students to provide real work experience opportunities. It will also include exhibition and events spaces, a digital hub, business incubation units for local start-up companies, conference facilities and meetings rooms, and 74 car and 60 bicycle parking spaces. Claire Foster, Boston College principal and CEO said: “We are thrilled that planning permission for the iconic Mayflower, the flagship project of Boston’s Town Deal fund, has been granted. The state-of-the-art facility will provide a shining beacon of aspiration for higher level and adult education at a time when our town needs it most.” The existing Ingelow Centre will be demolished to make way for the 1,940sqm building. The site, which was previously a care home, was acquired by Boston College to house its foundation learners, who will be moving into a newly-refurbished building based on the main Rochford Campus. Jacqueline Jackson, planning director at Marrons, said: “The unique Mayflower building will provide facilities not currently available within Boston, enabling businesses and learners to connect, create and innovate together, and acting as a catalyst to drive forward significant economic growth. “It is great that were able to deliver permission promptly to enable the development to progress quickly, especially because the multi-functioning space will make a big difference to the everyday life of the local community. We look forward to seeing it complete and the high-quality facility welcoming students and businesses alike.” The Mayflower is benefitting from £10 million in Towns Fund investment. Neil Kempster, chair of Boston Town Deal, said: “It is fantastic news that planning consent has been granted for the Mayflower. This is a significant step towards creating a new, inspirational centre for learning in Boston. “The Mayflower project has always been the flagship scheme within the Town Deal portfolio and it is brilliant news that it has taken a massive step forward with the grant of planning permission. We look forward to continuing to work with Boston College as they bring this important project to fruition, which will provide many more opportunities for local people to gain skills, knowledge and training.” The project is part of a wider proposal that will deliver a high-quality public realm linking the Mayflower building the redevelopment of the adjacent leisure centre.

Leicester landlords face £2,500 fine for ‘to let’ board rule violation

Stuart Pearcey
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Leicester landlords face £2,500 fine for ‘to let’ board rule violation
Leicester City Council is preparing to renew its powers to control the way landlords put up boards advertising their properties in some parts of the city, meaning they’ll need planing connect. It’s almost five years since the city council applied a new ‘Regulation 7 Direction’ effectively banning the use of ‘To Let’ boards in the city’s Castle, Knighton, Saffron and Westcotes wards of the city, close to the University of Leicester and De Montfort University. Failure to comply, could face court action and a fine of up to £2,500. The existing legal direction is due to expire in July 2023, and the city council is planning to apply for its renewal. Deputy city mayor Cllr Piara Singh Clair, said: “Prior to bringing these new powers into effect, many people who lived close to the universities were concerned about the almost permanent proliferation of ‘To Let’ boards on their streets. “Since the direction was implemented, there has been a significant reduction in illegally displayed ‘To Let’ boards which has led to an improvement in the appearance of the affected areas. We don’t want to see the advertising boards becoming an eyesore in these areas again and hope to renew the legal powers which have helped us to successfully tackle the problem.”

Administrators appointed to Bromford Industries and Accrofab

Tess Egginton
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0
Administrators appointed to Bromford Industries and Accrofab
Bromford Industries Limited and Accrofab Limited, based across three sites in Leicester, Derby and Alcester, have entered administration. The companies are tier one suppliers to global OEMs in the aerospace, defence and power generation industries, specialising in the precision manufacturing and fabrication of components. Collectively, they employ 309 members of staff. Like many other companies across the industrial manufacturing sector, the businesses have faced a number of challenges in recent times including escalating raw material and energy costs, supply chain disruption, and the wider impact on demand as a consequence of the Covid-19 pandemic. While the facilities at Derby and Alcester were continuing to trade well, operational issues at the Leicester facility further exacerbated the liquidity challenges faced by the companies. In recent weeks, attempts have been made to seek urgent additional financial support from customers in order for production to continue. After a series of productive discussions, the directors of the businesses have taken steps to protect the interests of creditors by seeking the appointment of joint administrators – Ryan Grant and Chris Pole from Interpath Advisory. This will allow the companies to continue to trade while the administrators seek buyers for the businesses and their assets. All members of staff will be retained by the administrators to enable trade to continue. The U.S. operations and businesses of Bromford Group, including AeroCision and Numet, continue to operate entirely as usual and outside of the administration process. Ryan Grant, Managing Director at Interpath Advisory and joint administrator, said: “Over the past 50 years, Bromford Industries has forged an excellent reputation as a tier one supplier of fabricated and machined components to the aerospace, defence and power generation sectors. “We have been pleased with the positive conversations and financial support provided by customers in recent days, which has ultimately provided the businesses with a crucial lifeline. We’d also like to extend thanks to the companies’ employees for their support and understanding while this process has been underway.  “Our priority is now to seek buyers for the businesses and assets, and would urge any interested parties to contact us as soon as possible.”

Marketing and communications manager promotion makes Scarlet trentbarton’s youngest team leader

Tess Egginton
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0
Marketing and communications manager promotion makes Scarlet trentbarton’s youngest team leader
Scarlet McCourt has been promoted as trentbarton’s marketing and communications manager, making the 25-year-old the bus operator’s youngest team leader. Scarlet, who lives in Long Eaton, has been with trentbarton for five years after joining from Nottinghamshire County Council where she was an apprentice from 17 and then part of the digital marketing team. At trentbarton Scarlet was firstly the marketing and communications assistant before her first promotion to digital marketing executive, leading the company’s social media and wider online presence. From traveling to school on buses and with a grandfather who drove for Barton Buses, Scarlet appeared destined to work in the bus sector and said: “No working day is the same at trentbarton. It keeps me on my toes. “trentbarton is a very forward thinking company, especially in its marketing. So I was very excited when this new opportunity arose. I feel ready and confident that I know the business and the industry well after five years here. “We are going to stay on the front foot and showcase the trentbarton personality. There is great potential for positive change and I’m very pleased to be part of that.” Tom Morgan, Managing Director (buses) for all the bus operators of trentbarton’s parent company Wellglade, said: “Scarlet has really stepped up and led the team very effectively. “Scarlet has a wonderful management style that brings the team with her and is very strong on the detail. Because she is a bus user, Scarlet understands our customers and market. “Scarlet has key traits which bring a fresh and insightful perspective, adding huge value to the whole business.”
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