£50k cash injection to explore upgrades to the A61 South of Chesterfield
Midlands Connect will be awarding £50k of funding to Derbyshire County Council.
This award is for the authority to make a business case to the Department for Transport for work to the A61 Corridor (South of Chesterfield). The council will contribute by matching the award, making a pot of £100k.
Midlands Connect will provide the funding to research and develop a business case to submit to government and will also supply support to the local authority. This allows the council to explore all options available to improve the corridor, which may include improved access for pedestrians and cyclists or enhanced public transport provision along the route.
Swati Mittal, strategic roads manager at Midlands Connect, said: “We are so pleased to be able to give Derbyshire County Council this funding and to help them make their case to government.
“This scheme is exactly in line with Midlands Connect’s values and objectives for the region, and could benefit from a great variety of improvements, which we look forward to exploring with the council.”
Lee Rowley, MP for North East Derbyshire, said: “I hugely welcome this additional funding that has been announced today.
“We remain at a pretty early stage in terms of how to mitigate the long-term challenges on the A61 but the work that we have done locally in recent years is now starting to be recognised more broadly – including through grants such as this – and I hope it will allow us to make progress in the years ahead. Thank you to Midlands Connect for being willing to support this important work.”
Councillor Carolyn Renwick, Derbyshire County Council’s cabinet member for infrastructure and environment, said: “We are grateful for the funding from Midlands Connect which will help us to develop future plans for the A61.
“This busy road is important for so many people living between Chesterfield and Clay Cross, and for commuters. The road is likely to get busier as new housing developments and business growth brings more people to the area, so it’s vital we look at what we can do to manage congestion and reduce emissions. This money will enable us to further develop our plans.”
The A61 corridor is a crucial part of the major road network in Derbyshire, connecting the county to Chesterfield and beyond into South Yorkshire. The area for improvement spans from the Horns Bridge roundabout in Chesterfield to the A6175 junction in the centre of Clay Cross.
The road is one of the most congested in the county, with several “pinch points” at key junctions as well as Horns Bridge roundabout. During peak hours, average delays of up to twelve minutes affect travellers along the route in either direction.
New housing developments are being built along the corridor and once completed their residents will benefit from the improvements. Two key construction sites in the vicinity will deliver up to 2,100 new dwellings.
Improvements to the corridor would support better air quality in the surrounding residential area, which includes housing estates and schools. There are also plans to improve pedestrian and cyclist accessibility, by looking into drop-kerbs, crossing points, and cycle parking.
The business case will build on the outcome of a public consultation undertaken by the council. The consultation runs from 25 July to 16 October 2022.
MBO and acquisition completed at J-Flex
The directors of Clockpress Limited trading as J-Flex Rubber Products have revealed a double acquisition including a management buyout.
The buyout of Nottinghamshire-based J-Flex, led by Managing Director, Sam Kirk, and finance director, Chris Barnes, sees the creation of a new parent company – Clockpress Holdings, which the new owners plan to use as an investment vehicle to acquire other owner-led SMEs and grow the business further with job creation.
Sam Kirk explained: “J-Flex has changed considerably over the last two to three years, and while exploring acquisition opportunities for J-Flex, John and Jill expressed an interest in possibly exiting the business.
“We are delighted to have reached a deal that allows them to achieve that, without impacting other acquisition plans and ensuring business continuity, as well as the opportunity to grow successfully.
“J-Flex has a really talented team of people capable of taking the business on to the next level, while retaining the legacy that the original owners had created.”
The deal marks the first of several expected acquisitions for Clockpress Holdings, with its second deal already completed to acquire the majority share capital in Composites Evolution – a manufacturer of prepreg and innovative materials for the composites industry in Chesterfield.
Sam said both J-Flex and Composites Evolution already shared a “like-minded approach to business” and currently work with several mutual clients within the aerospace and automotive sectors.
Composites Evolution will continue to operate as a standalone subsidiary with its existing staff.
Gordon Bishop, Chief Executive Officer of Composites Evolution, added: “We are delighted with the deal that has been struck with Clockpress Holdings. There is already great synergy in the products, markets and business approach of both J-Flex and Composites Evolution, so it makes sense that we can now join forces and combine our expertise in this way.
“We are seeing rapid growth in demand due to our market-leading prepregs and short lead times, and we are very much looking forward to working with Clockpress Holdings to meet that demand in the coming months and years.”
Clockpress Holdings said its first two acquisitions were just the beginning of the company’s development, and negotiations for similar deals were already taking place with several other manufacturing businesses, which will see the legacy of J-Flex in Retford continue.
The transactions for both acquisitions were supported by Neil Roberts, Antony Voakes & Amy Weston of Wright Vigar Chartered Accountants and Azam Zia of Zia Harman Solicitors.
Henton and Chattell expands with multi-million-pound Nottingham property acquisition
Henton and Chattell, the distributor of ground care and garden machinery, is expanding following a multi-million pound transaction.
The acquisition sees Henton and Chattell take ownership of three income-producing buildings with a total floor space of almost 50,000 square feet.
The three properties, which consist of a 3,483 sq ft and 5,600 sq ft office space, plus a 39,986 sq ft industrial warehouse, are in a prime location on Abbeyfield Road, Nottingham, with unrivalled access to the A52 and A453.
Scott Osborne, director at Innes England, acted on behalf of Henton and Chattell.
Henton and Chattell, a family business operating for almost 100 years, employs 85 people and offers one of the largest ranges of ground care and gardening machinery.
Peter Chaloner, Managing Director of Henton and Chattell, said: “This is a great opportunity for us to expand our business in the East Midlands in line with our ambitious targets.”
The vendor was represented by FHP Property Consultants.
“Actions, not words” now needed from politicians in tackling economy, says East Midlands Chamber
The time has come for “actions, not words” from politicians, says East Midlands Chamber – as a new study shows confidence is nosediving among businesses.
This week, the chamber of commerce for Derbyshire, Nottinghamshire and Leicestershire will publish the results of its Quarterly Economic Survey (QES), which is delivered in partnership with the University of Leicester School of Business and gauges the health of the region’s economy, for the third quarter of 2023.
Data will show a steep fall in optimism among the region’s business community for an improvement in turnover and profitability amid rising cost pressures for energy, people, raw materials and fuel.
MPs return to Parliament from tomorrow (11 October) after party conference season, which followed Parliamentary recesses over the summer and early autumn for the Conservative leadership election and period of mourning following Queen Elizabeth II’s death. Chris Hobson, director of policy and external affairs at East Midlands Chamber, said: “The on-off pauses in parliamentary activity – for reasons fully understood – over the past few months have led to a bottleneck in decision-making from the top of Government.
“At the same time, a cost-of-doing-business crisis has tightened its grip on firms, which are under huge pressure to get through a difficult winter and beyond. Businesses are telling us that alongside the increased costs they face, cashflow is worsening and demand for their products and services is now dampening for the first time since pandemic restrictions were removed.
“We have heard lots of rhetoric from our MPs during a summer characterised by internal politics but as we enter the final quarter of the year, the vacuum of policy decisions must be replaced with actions, not words.
“This will help businesses to get on with doing what they do best – creating jobs, wealth and opportunities, and helping the economy get out of the difficulties it’s currently in.”
Mini-budget measures are a good start – but market uncertainty a concern
Some of the announcements in Chancellor Kwasi Kwarteng’s mini-budget aimed at growth and putting money back in the pockets of companies at a time they most need it are welcomed, said Chris.
But these measures – alongside a commitment to streamline planning processes, develop infrastructure and incentivise meaningful business investment – have yet to be pushed through.
“If we are to truly get the economy moving again, as the Government says it wants to do, it needs to stop the log-jam of policy ideas and turn them into legislation to give businesses the confidence to invest,” Chris added.
Following recent turmoil with sterling and in bond markets, he called for “clear reassurance about its plans to ensure that as a country, we are taking a responsible approach to managing our finances and aren’t viewed as a risk by external investors.”
Chris added: “Further detail on the costings of recent proposals, along with anticipated growth returns and timescales for this, is now needed.
“The current market uncertainty damages consumer confidence and doesn’t support those that are looking to invest in their businesses. As such, the current proposal from Government of giving further details and costings towards the end of November feels too far away for businesses to wait.”
Output, optimism and employment levels fall as economic uncertainty hits businesses
Business output, optimism and employment all fell in September as increased uncertainty amid mounting inflation takes its toll on businesses across the UK, according to the latest Business Trends report from accountancy and business advisory firm, BDO.
The latest numbers mark the first time all four of BDO’s Business Trends indices have fallen together since the first national lockdown in April 2020.
BDO’s Output Index fell for the second consecutive month to 94.30, its lowest reading since February 2021 when the UK’s output was curtailed by the third national lockdown. The index now sits below the 95-point mark, indicating a move into contractionary territory for UK output.
Output has been hit with shocks from both the demand and supply sides as high input prices increase costs for businesses and the cost-of-living crisis weakens consumer spending power. This has been reflected in the manufacturing and services output subcomponents which both recorded negative readings simultaneously for the first time since the lockdown in February 2021.
This slump in output coupled with growing economic headwinds have driven the sixth consecutive monthly decline in business optimism. BDO’s Optimism Index saw a significant fall of 4.48 points to 96.32 in September with further decreases expected over the coming months as the impact of a recession sets in.
Optimism is lowest amongst businesses in the services sector as firms grapple with the cost-of-living crisis curtailing discretionary spending, impacting the retail and hospitality subsectors in particular. Optimism across this sub-component now stands just above the 95-point contraction mark at 95.62.
As a result, businesses are exercising caution and slowing their employee headcount growth in the face of these hardships. This signalled the end of a 10-month positive growth streak for BDO’s Employment Index which declined for the first time since October 2021. The index fell 1.14 points in September to 114.19 as hiring intentions reached their weakest level since Q3 2021.
BDO’s Inflation Index also saw a marginal decline of 0.05 points in September but the index remains high at 119.00 points. This decline was driven by a drop in input inflation caused by falling commodity prices as global markets adjusted to a ‘new normal’ of weaker energy supplies. This outweighed the pressures from the depreciating pound towards the end of the month following the reactions to the government’s fiscal announcement.
Kyla Bellingall, head of the Midlands at BDO LLP, said: “A fall across output, optimism and employment is a stark warning sign for the economy, and it’s likely that there is further upheaval ahead.
“With energy prices expected to accelerate inflation towards the end of this year, and unemployment rates set to peak in mid-2023, we’re only just starting to see the recessionary impacts set in.
“Clearly businesses are in a bind. They’re already facing soaring costs and with a great deal of uncertainty ahead, hiring intentions are now taking a hit too. The past few years have shown the resilience of companies in the UK, but with increasing political uncertainty they need reassurance that they will receive the right support across the next few months and longer-term.”
LLEP Youth Advisory Board member appointed to national group as panel looks for further growth
The Youth Advisory Board is to expand following a successful launch last year – with one member already now sitting on a national panel.
The LLEP Youth Advisory Board (YAB) was created after recruiting seven people, aged between 16 and 24, from local schools, colleges and universities.
Those young people are now acting as representatives of their peers at the heart of the LLEP’s Careers Hub.
The YAB provides a platform for young people to problem solve with LLEP officers, as well as to engage, inform and influence LLEP networks.
Recruitment started in the Autumn of 2021 and the group has now grown to 10 – with plans in place to expand it further.
The Board has reported several early successes since first meeting in February, with members making progress in engaging their community in sustainable careers.
The YAB organised and hosted an Enterprise Day at Charnwood College in May in which guest speakers met with Year 10s.
Members also set up a Dragon’s Den-style activity, where the young people created a proposal for a design for a sustainable workplace.
Elsewhere, YAB member Oli Bochenek has been selected for a seat on the Careers and Enterprise Company’s (CEC’s) national Youth Advisory Group.
The CEC supports schools and colleges across England as the national body for careers education. Melton Vale Sixth Form College student Oli will help to provide a voice for youth within the CEC.
Oli’s business studies teacher suggested that it might be worthwhile to apply for the LLEP YAB group. Oli said he had subsequently developed confidence with public speaking, as well as teamwork and communication skills.
He added: “Working with the group has increased my awareness of career and education paths available to young people and how they can access help to achieve their career goals.
“It’s a positive and friendly group that really seeks to make a difference to young people’s lives and the future of their environment.”
Verity Hancock, principal of Leicester College and Further Education Representative on the LLEP Board, said: “Deciding what to do after leaving school can be a challenge. Getting the right information is important.
“By involving young people in developing strategy we are including and reflecting on what matters to the very people who are accessing the careers education.”
Gerarde Manley, Careers Hub lead, said: “The YAB are an impressive group of driven young people from across the LLEP area.
“By investing in their training, we can help to upskill them to make best use of our network and media channels.”
Plans are also underway to involve the YAB in youth-related events at other business and careers events over the course of the coming year.
The YAB is in the process of developing a mission statement to further expand its offer.
Network this November at the East Midlands Expo
With businesses signing up in droves to the East Midlands Expo, register now for the long-established event!
A well targeted exhibition and networking opportunity, aimed at the construction, property, business, investment, finance, professional services and related B2B markets, the crowd will descend on the East Midlands Conference Centre, Nottingham on Monday 14 November 2022 for the free to attend expo.
It has everything you require for a great day of business generation, with the chance to meet more potential clients in one amazing cost effective day, than it would take months out on the road.
The day, for which Business Link is a proud partner, will begin with exhibitor breakfast networking, with the exhibition opening to attendees at 9am. A seminar will take place between 10:45am and noon with BSP Consulting’s directors Mark Rayers and Tony Goddard lined up to present ‘Sustainability and how engineering plays its part’.
Not to be missed, a special networking lunch (for which tickets can be purchased here) will then take place between 12:15pm and 2:15pm, and the exhibition will close at 3:30pm.
For more information on exhibiting at the event click here.
To register to attend the event for free click here.
To secure tickets for the networking lunch click here.
From property agents to developers, architects, contractors, investors, PR firms, and more, see the list of current exhibitors here.Why ordering manufacturing online will become the new norm
For a long time, customers have had to visit manufacturing plants in person to place orders for the production of various items. Products also had to pass through several intermediaries before reaching the consumer. But technology has made things more manageable, enabling manufacturers and consumers to interact seamlessly through the internet. Individual customers and businesses can now request manufacturing services and have the products shipped to their location, without ever setting foot on the manufacturer’s yard.
A report from Statista showed that the manufacturing industry amounted £188.1 billion in e-commerce sales in the year 2019. It’s the second largest sector in terms of e-commerce sales value, only slightly trailing behind the wholesale industry. This trend will likely hold in the future as more manufacturers are shifting to a customer-centric approach.
There must be valid reasons why both individual consumers and businesses of all sizes are turning to online platforms in such huge numbers. Here are some of them:
Convenience
Customers usually prioritise satisfaction when ordering manufacturing services, and many online manufacturers have proven that they can meet this expectation. For instance, if you’re looking for a CNC manufacturing service, all you need to do is upload your 3D model and specify all the properties you want—such as material, surface roughness, general tolerances, etc—and you’ll get a quote almost immediately.
In essence, ordering manufacturing online involves just a few mouse clicks or taps on a screen. That’s far more convenient than visiting the company’s physical location. In-person visits are never guaranteed, given how frequent appointments get cancelled or rescheduled because of delays in traffic or conflicts with other commitments.
On-time deliveries
Competition among manufacturers in the online space drives them to strive towards premium quality products and on-time deliveries.
Using a manual system might mean dealing with longer processing cycles. Moreover, travelling to and from the manufacturing plant to assess order progress is usually burdensome on the part of the customer. And if the manufacturer isn’t keeping up with their promises and hitting the milestones as agreed, customers might need to find better manufacturers to work with and start the process all over again.
Accuracy
Paper-based manufacturing orders are less accurate than automated online orders since placing purchase orders manually comes with the usual risk of human error. In fact, a study showed that 23% of all unplanned downtime in manufacturing is caused by human error. That’s why these archaic and ineffective systems typically lead to lower customer satisfaction rates.
On the other hand, automated online manufacturing orders are more accurate and ensure better visibility throughout the whole process. Furthermore, both sides will save time on data cross-checking, manual data entry, and catalogue updates and maintenance.
Market Changes And Technology
In 2020, the world experienced one of the most intense recessions since World War II. The global economy shrunk by around 5.2%, which caused many workers in the manufacturing industry to lose their employment. Most global value chain firms started using advanced technologies to deal with the worker shortage, especially during the lockdown.
This period is when companies discovered the importance of technology in production and customer service to keep them afloat. Manufacturers started to digitise their operations and services. Most of their workers started working remotely through a global virtual operations room. The Manufacturing & E-Commerce Benchmark Report from Sana Commerce showed that by 2021, 98% of manufacturers have started implementing or are working on an e-commerce strategy.
Indeed, the manufacturing industry is undergoing a revolution. Manufacturers have been incorporating digital technologies in production and ecommerce to improve the efficiency of their operations. After all, e-commerce comes with a host of benefits—customers can now access their account details and order history immediately. They can also get status updates in real-time, any changes to their order details can be communicated and implemented nearly instantaneously.
With technology making account management and product development more efficient, it’s highly unlikely for customers and manufacturers to revert to manual systems.
Speed and Reliability
There’s more demand from customers for manufacturers to process orders rapidly and accurately while maintaining efficient operations. With advanced manufacturing processes, robotics, and automation, manufacturers can meet this demand. Ordering online considerably reduces the product cycle time, making it an attractive choice among customers and businesses.
Conclusion
With modern technological advancements, the manufacturing industry hasn’t been left behind. Manufacturers have wholeheartedly embraced ecommerce, and businesses and customers can expect improved visibility and reduced costs for their orders. Online manufacturing order systems are rapidly evolving and will eventually become the new norm because they’re faster, more reliable, and more convenient than manual systems.
So, if you’re still relying on the manual method, it’d be wise to try the online option to discover its immense benefits.
Derby’s Castleward development ready for phase four
Derby City Council is set to acquire more land for the next phase of the Castleward redevelopment project.
A compulsory purchase order (CPO) is already in place to acquire land and, subject to Cabinet approval, Derby City Council will begin to issue General Vesting Declarations to remaining properties that need to be acquired.
The Council are working in partnership with Homes England and Compendium Living on Castleward Urban Village, with the aim of delivering more residential space and driving an increase in city living.
Phase 4 of the development will see the creation of a further 112 homes including 34 affordable homes, working with Compendium Living and supported by funding from Homes England.
Also subject to cabinet approval is an increase in funding of £0.333m. The economic challenges affecting households are also starting to hit local authorities, including rising inflation and increases in the cost of power and fuel. Property values and the cost of relocating businesses is also higher than original estimates.
The Council is already working with occupiers affected by the CPO to ensure the right outcome is achieved in each case. One planned relocation site is the former Rolls Royce Light Alloy Foundry on Osmaston Road, with Tarmac and Derbyshire County Transport scheduled to relocate there for Summer 2023.
On the new developments at Castleward, councillor Steve Hassall, cabinet member for regeneration, decarbonisation, strategic planning and transport, said: “It is always exciting to see a project continue to develop as Castleward is doing.
“We’ve already created an attractive gateway to the city, with new homes and commercial space. This fourth phase will only build on the success we’ve seen in the first three phases, as we look to encourage more people to come and call the city centre their home.
“This is a major project for the city and the proposed increase in funding will allow us to combat the increased costs of acquiring land and businesses and maintain momentum with the project.”
The first three phases of the scheme have already proved successful, with more people living in the new urban residential area in the city centre. These phases also saw the construction of the new Castleward Spencer Academy, which has added vital school capacity to the area.
Castleward is one of the city’s largest housing projects, and in total will provide around 800 new homes. The project, which sits between Derbion shopping centre and Derby Midland Station, will see 15 – 20 years of redevelopment, also providing green space and 35,000 square feet of commercial retail space.
Financial planning firm makes third acquisition of 2022
Nottingham’s Wren Sterling Group has acquired HB&O Financial Services, a chartered firm servicing over 850 clients with more than £250m of client assets, subject to FCA approval.
HB&O Financial Services, based in Leamington Spa, will allow Wren Sterling to grow further its presence in the region beyond its existing operations in Warwick, through organic growth and future smaller acquisitions in the area.
22 employees will join the Wren Sterling Group as a result of the transaction, including HB&O’s five chartered financial planners, two chartered paraplanners and mortgage adviser.
HB&O Financial Services boasts close links with the accountancy firm Harrison Beale & Owen Limited, which will be retained.
James Twining, Wren Sterling’s Chief Executive Officer, said: “I’m really excited about bringing HB&O Financial Services into the Wren Sterling Group. Jason and his team share our values, demonstrably delivering high levels of client service through their Chartered status.
“We’ve already made three strategic acquisitions this year with further deals to follow. This is accelerating our growth, bringing fresh ideas into the business, and giving us real presence in key geographic locations. The West Midlands, and in particular Warwickshire, has huge potential which we can now tap into alongside the HB&O Financial Services team. I’m keen for us to learn from their experience of building a fantastic business and presence in their local area and to support their team’s further professional development.”
Jason Strain, Managing Director of HB&O Financial Services, added: “Joining the Wren Sterling Group is a logical next step for our business after years of building under our own steam. The opportunity to benefit from the scale and quality of Wren Sterling’s central operational, finance, HR and compliance resources is really appealing as it frees up time for us to concentrate on doing what we love most – servicing clients.
“We recognised the same cultural traits in our businesses, which is important to me and my staff, and thanks to the strong synergy between our operating systems and the support of Wren Sterling’s dedicated integration team, we don’t anticipate any disruption to client service. In fact, we expect our clients to be able to benefit from being part of the broader Wren Sterling Group.”
