Leicester had a 98 per cent growth rate in the number of enterprises in the city, ranked 5th overall and the highest outside of London in comparison with all 152 single/upper tier authority areas
- Leicestershire’s growth rate in the number of enterprises is ranked 5th against the 31 other comparable counties
- The Leicester and Leicestershire Enterprise Partnership (LLEP) achieved a growth rate of 46 per cent and is the fourth highest of 38 Local Enterprise Partnership areas
Research reveals strong growth in number of enterprises in Leicester and Leicestershire
New research from the Office for National Statistics’ UK Business Counts dataset shows that Leicester and Leicestershire have performed strongly against other English local authority and regional areas in terms of the number of enterprises and businesses located in the area between 2011 and 2021.
The highlights include:
KPMG UK to relocate Nottingham office
Business advisory firm KPMG UK is set to relocate its Nottingham office, next year, to the University of Nottingham’s new Castle Meadow Campus as part of its long-term regional growth strategy.
KPMG UK’s Nottingham office supports businesses in the East Midlands with audit, tax, consulting and advisory services across a wide range of sectors – both private and public. The firm’s office, currently located on Park Row, Nottingham, hosts over 200 employees, who will move to a dedicated office at the university’s new campus, situated at the foot of the city’s historically significant Nottingham Castle.
The move strengthens the existing strategic partnership between KPMG UK and the university; and bringing a local business into the academic hub will provide an exciting opportunity to create a professional learning and working environment for staff and students. Bringing the daily business activity of the firm into the university environment will also unlock new opportunities for talent and skill development, shared facilities and services – including hospitality and conferencing – as well as the experience of a university-business connected environment.Marc Abrams, senior office partner at KPMG UK’s Nottingham office, said: “This is an exciting time for KPMG in the East Midlands as we embark on the next stage of our relationship with the university. The decision to locate within the university in the city centre reinforces KPMG’s investment in the East Midlands and our ambition to expand and enhance staff experience by providing new facilities.
“With this move our clients will benefit from greater collaboration on research and innovation projects between KPMG and the university, enabling us to deliver enhanced data driven outcomes for their businesses.”
Castle Meadow Campus is the university’s once-in-a-generation landmark investment currently in development. The new campus will enable the university to have a greater physical presence in the city centre, bringing opportunities for final year and postgraduate students studying professional practice-based courses, as well as supporting jobs, investment, and growth for the city.
Margaret Monckton, chief financial officer at the University of Nottingham, said: “We are delighted to welcome KPMG into our university community. Our Castle Meadow Campus will enhance opportunities for collaboration with local business, industry and small businesses, making it easier for partners to seamlessly engage with us and develop long-term, mutually beneficial relationships, and make a positive difference for the city, while offering the best of facilities for staff and students. KPMG is a foundational partner in this exciting new venture for the university.”
Justine Andrew, head of the University Partnership office at KPMG UK, added: “The first year of our partnership has already unlocked some exciting projects for us, the university, our clients and the region. Being located within the university’s campus will be a new step for us as we look to collaborate on talent, product development and innovation. We see the Nottingham partnership playing an increasingly important role in supporting new and innovative ways of working across the UK. The move is a hugely exciting chapter for us.”
Professor John Gathergood, associate pro-vice chancellor for Research and Knowledge Exchange in the Faculty of Social Sciences at the University of Nottingham, said: “We are thrilled to enter this unique co-location relationship with KPMG which will benefit the research and innovation activity in both organisations. Campus co-location promises new ways of working and innovating, bringing university and business talent in partnership to promote research and innovation for financial inclusivity and social good.”
The relocation announcement comes shortly after the first anniversary of KPMG UK’s strategic partnership with the University of Nottingham, a partnership which drives insight for clients and supports the economic growth agenda across the East Midlands. The move allows an additional exciting opportunity for collaboration across fintech, talent and research-based client solutions.
Student accommodation and Build to Rent apartment scheme planned for site of Leicester office building
Proposals have been submitted for purpose-built student accommodation (PBSA) and a Build to Rent (BtR) apartment scheme on Welford Road in Leicester.
Cheswold Welford Road Limited are seeking full planning permission to redevelop James House for the scheme.
The plans involve the demolition of the existing office building at the site to make way for a student accommodation block providing 351 bedspaces, and a Build to Rent block providing 106 apartments made up of 46 one bed and 60 two bed flats.
There would also be a commercial unit on the ground floor.
Clowes Developments reports record breaking turnover
Clowes Developments has reported a rise in revenue and profit in its latest annual accounts for the financial year ending 31 March 2022.
The Derbyshire-headquartered firm achieved a record breaking turnover of £119.8 million, up from £82.9m in the year prior.
Pre-tax profits meanwhile stood at £41m, growing from £22.3m.
The news comes after the firm’s acquisition of Derby County Football Club earlier this year. The directors of Clowes “consider that this is a medium-term investment to return the football club to stability and add significant value to the initial cost of circa £60m.”
Chairman of Clowes Developments, David Clowes, said: “Our latest figures tell an on-going and compelling story of robust financial management and cautious investment. Our buoyancy is testament to the hard work of our professional team and a vote of confidence from the market in our company’s ethos and commercial direction.”
Since 31 March 2022, the group has acquired four new sites along with the Pride Park Stadium, and sold a number of smaller completed new build commercial properties, sold two commercial land plots and agreed further pre-sales on six commercial units where building is about to commence or has already started.
Clowes says it continues to trade at increased levels compared to previous years due to the pre-sold commercial deals signed both during the year and since the year end.
Strong revenue growth for Lutterworth cybersecurity software company
Revenue and pre-tax profit are on the rise at Intercede, the Lutterworth cybersecurity software company.
According to interim results for the six months ended 30 September 2022, revenues totalled £6.1 million, approximately 24% higher than the £4.9 million reported for the same period of last year.
Profit before tax meanwhile hit £620,000, up from £120,000.
The news comes after Intercede’s acquisition of Authlogics Ltd, post-period end, a UK-based company bringing Multi Factor Authentication (MFA) and Password Security Management (PSM) capabilities to the Intercede Group.
Royston Hoggarth, chairman, said: “I would like to take this opportunity to thank our colleagues for their hard work during what has undoubtedly been a busy six months, driving strong double-digit revenue growth and working towards the completion of Intercede’s first M&A deal.
“The acquisition of Authlogics enables Intercede to deliver on its strategic vision of addressing the entire authentication pyramid from Passwords to PKI.
“The Board is pleased to see such a focussed start to Phase 2 of the turnaround plan to push scalability and accelerate revenue growth.
“While the Board is cognisant of volatility in the current global macroeconomic environment, we remain confident in the group’s execution of the ‘6C strategy’ and that the outlook for the second half of FY23 remains in line with management’s expectations.“
Burton upon Trent-based golf club expands after securing funding package
A Burton upon Trent-based leisure business has expanded with support from HSBC UK.
Branston Golf and Country Club has utilised a £2.4m funding package from HSBC UK to assist the business with its regeneration plans, following a management buyout of the club pre-pandemic.
The transformation includes the development of a health club, 17m swimming pool, conference facilities, creche, and a 2,000 sq ft gym, alongside extensive maintenance of multiple site golf courses.
Branston Golf and Country Club has established 10 jobs across the business, created to manage and support the promotion and operation of the Club’s new and improved facilities.
With over 3,000 members, Branston Golf and Country Club has seen a 23% uplift in health and fitness memberships – and a 14% increase in golf memberships – since reopening post-pandemic in 2021.
As a result of expanding, Branston Golf and Country Club is estimating an increase of 25% in turnover to hit £5m in revenue at the end of a five-year regeneration plan.
Ben Laing, Managing Director at Branston Golf and Country Club, said: “The support from HSBC UK has enabled us to extend our investment over a longer period. Consolidating the investment in one package will enable us to drive the rate and volume of all revenue streams, resulting in steady and consistent growth across all business sections.
“As we operate in the premium segment of the market, this investment has ensured that we can deliver the highest quality of service and facilites to all our members and customers.”
Paul Armstrong, area director at HSBC UK, added: “We’re pleased to be able to support businesses from sectors that are still recovering from the impact of the pandemic, such as Branston Golf and Country Club. The Club is in a position to move forward with its exciting plans for future growth.”
The proposal was introduced by Ben Lavin at Empire Finance who worked with Mark Greasley, relationship manager at HSBC UK, in order to find a suitable funding package.
Plans in for major student scheme in Leicester
Plans to demolish a factory in Leicester to make way for student accommodation have been submitted to the City Council.
The proposals for the Gill Knitwear site at 48 Little Holme Street are to be delivered by ECE Westworks alongside Crown Student Living.
The application site is within walking distance to both of Leicester’s universities.
The planned scheme comprises 646 beds of managed student accommodation, varying from studios to multi-level cluster apartments. These would be supported by associated landscaping, ancillary and communal facilities.
The building would vary in height from seven to eleven storeys with a six-storey connecting spine.
Lincolnshire company fined £36,000 for illegal waste activities
A food waste recycling company has been fined £36,000 for the illegal spreading and storage of waste at three sites in South Yorkshire and Lincolnshire, in a sentencing case heard at Doncaster Magistrates’ Court on Wednesday 16 November 2022.
In September 2022, Whites Recycling Limited pleaded guilty to 8 offences, including the breach of environmental permit conditions related to the spreading of waste to farmland in Auckley and Blaxton, Doncaster, and Susworth, Lincolnshire, contrary to the Environmental Permitting (England and Wales) Regulations 2016.
Doncaster Magistrates’ Court heard that Whites Recycling Limited, in breach of its environmental permit, spread liquid waste to fields near to Ivy House Farm, Auckley between March and May 2018; to Acomb Farm, Blaxton in November and December 2018; and to East Ferry Road, Susworth, Lincolnshire in November and December 2019.
Liquid wastes containing nitrogen and phosphates were spread on land by the company at the wrong time of year or in excessive quantities, which posed a risk of pollution to groundwater. In addition, the Lincolnshire-based company pleaded guilty to illegally storing liquid waste in a storage tank on Acomb Farm between July 2017 and April 2018.
Whites Recycling Limited is a company involved in the disposal and recycling of waste sludge and liquid waste, the majority of which are generated by the food industry. The company can lawfully spread such waste to farmland in circumstances where it can be demonstrated that land spreading will result in agricultural or ecological benefit.
Although the company had an environmental permit that allowed it to spread food waste to land for agricultural benefit, it was a condition of its permit that before it could start to store or spread waste at a location, it must notify the Environment Agency using a deployment form, and the Environment Agency must agree to the spreading.
This ensures that waste is only permitted to be spread to land when it benefits either the soil or the crop being grown in it and where it will not pose a risk of harm to the environment. If waste is spread to land without a deployment first having been agreed, or if waste is spread to land in circumstances which are not in accordance with the agreed deployment, then there is a risk of environmental harm.
In passing sentence, District Judge Young stated that the company had been negligent, in that it had failed to take reasonable care to put in place and enforce proper systems for avoiding the offences. The court acknowledged that the company had reviewed its systems and steps had been taken designed to avoid further offending. The court stated that it had to balance the need to bring home to the company’s management and shareholders the need to improve regulatory compliance, with the fact that the company had recently been operating at a loss.
The Court fined the company £36,000 and further ordered the company to pay a statutory surcharge of £170, and the Environment Agency’s investigation and legal costs of £38,008.17.
After the sentencing, Area Environment Manager Steve Lawrie said: “Our rules are in place for a good reason and to ensure that any material that is spread is done correctly and managed in a way that protects the environment. We will not hesitate to take enforcement action in future for those who breach their permits and refuse to cooperate.
“We hope this case sends a message to other land spreading operators and farmers that we take land spreading offences very seriously. Operators must follow the correct procedures to ensure they spread safely, in accordance with their environmental permits.
“We will always take action against anyone who fails to act in accordance with environmental laws and if anyone spots an environmental incident, they can report it to the Environment Agency’s 24-hour incident hotline on 0800 807060.”
Northampton first in recruitment app roll-out
A new app launched by Berry Recruitment in Northampton enables users to find work in seconds.
The tech is an extension of the town’s busy branch and means workers can take more control of their lives by choosing when and where they work.
The app will be rolled out nationally but Northampton has been chosen as one of the first places to benefit.
From downloading the app to accepting work is swift and simple – with employers also benefitting by filling vacancies more easily.
Berry Recruitment provides full and part-time work in sectors including industrial, office, catering and driving – and it also provides staff for large events.
Already the app is being downloaded by many who want to make a bit more money in the run-up to Christmas.
Lee Gamble, manager of Berry Recruitment, said: “The app does not replace our Northampton branch – it is an extension of it.
“Our workers can always talk to a real person; algorithms are great, but people buy from people – this hybrid solution is definitely the future for recruitment.
“Northampton is an ideal place to roll out the app because of the nature of the work the branch provides and the high number of staff we already have on our books.
“There are many employers in the area desperate for workers and we can now provide them with an even better service.
“It is extremely easy to register on the app and we still interview people face-to-face – via Facetime or similar technology, and this reassures employers.
“After it’s been downloaded the jobs are listed and people can click on vacancies and have work in seconds. It puts power literally in their hands.
“The app provides the same benefits that those who register within the branch receive.
“We have a refer-a-friend scheme and a temp of the month award, plus there are tips as well as careers and interview advice.
“We provide a route planner to help workers get to the job and it’s easy to send messages via the app so all parties involved can communicate easily.
“Clients and candidates across Northampton and surrounding areas are already using it and benefitting from it.”
British Business Bank’s second annual Nations and Region Tracker records the use of external finance falls in the East Midlands region
The British Business Bank’s second annual Nations and Region Tracker, published today, finds usage of external finance has fallen overall across the UK as nine out of the twelve regions saw a drop in use of small business finance.
Four in 10 (40%) businesses across the UK were using external finance in the four quarters to Q2 2022 compared to 42% a year earlier, with the East Midlands slightly below at 36%, substantially lower than the 47% usage a year prior. Core debt products remain the most used and widely available across the region.
Businesses in the East Midlands secured 50 deals worth £154m of equity investment in 2021. The value of equity deals increased by 92% compared to 2020, with the number of deals up 32%.
The Nations and Regions Tracker found that businesses in the most deprived areas of the UK are more open to using finance and report higher levels of ambition for growth, whilst facing greater challenges in accessing external finance.
Nearly half (49%) of businesses in the most deprived areas have a long-term ambition to be a significantly larger business, compared to 40% elsewhere. They are also more willing to use external finance to grow (36%) than businesses in less deprived areas (33%).
However, the report found that the growth ambitions of smaller businesses in the UK’s most deprived areas are being stifled because of a lack of access to finance. Just over nine per cent of firms in the East Midlands are based in the most deprived areas of England and Wales, making them more likely to face barriers to growth.
A quarter (26%) of smaller businesses in need of finance in deprived locations did not apply. Of those who did apply between 2020-21, 16% were turned down compared to just 11% elsewhere.
Dr Sophie Dale-Black, UK Network Director, Midlands at the British Business Bank, said: For a sustainable and prosperous economy in our region to continue to grow, we want to break down particular barriers to finance so that access to finance is a level playing field for all entrepreneurs – wherever they are, whatever their gender, whatever their ethnicity.
“We know external finance is an important tool for smaller businesses to promote growth and stability. The decline in external finance usage brings to life the various economic challenges smaller businesses are facing. It is therefore important that they know what finance options are available which we are committed to help them do.”
