CEO to be ‘locked up’ to raise money for charity

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CEO to be ‘locked up’ to raise money for charity

Luke Tobin, CEO of Leicestershire-based digital marketing agency Digital Ethos, will be raising money for Leicester Hospitals Charity alongside other business leaders in the county by taking part in the charity’s ‘Boss Breakout’ event on 16th November.

Luke and his peers will be locked inside the charity’s pop-up space within Highcross Shopping Centre, located in Leicester’s city centre, with no chance of release until the target funds of £12,000 are collectively raised.

The charity aims to make the experience of a child receiving treatment in the hospital easier and more comfortable for both the child and their parents/carers by using the raised funds to purchase 12 fold-away beds so children are close to their parents/carers during what can be an anxious time for all parties.

“I’m thrilled to be taking part in this fundraising event with other business leaders as it’s such a fantastic cause,” said Luke.

“Leicester Hospitals Charity works tirelessly to provide exceptional healthcare services for thousands of people within Leicestershire so myself and my peers will be doing everything we can to raise the £12,000 funds for much-needed beds.”

Armed with just a phone, laptop and chargers, Luke and the other business leaders taking part will have to rely on family, friends, their professional network, and various other digital tactics to raise funds whilst locked within the pop-up space.

The Boss Breakout event is part of the Leicester Business Festival which is returning for its ninth year between 6th – 17th November.

Digital Ethos will also be hosting an event as part of the festival; taking place in person on 15th November between 9:30 am and 2 pm. The digital marketing agency will be offering expertise on a variety of digital marketing channels including SEO, PR, paid social, PPC and Video.

“In addition to the Boss Breakout event, we’re also looking forward to joining in with our event at Digital Ethos,” Luke added. “The team we have acquired since I founded the company in 2016 represents some of the brightest talents in the industry and we are excited to showcase this in our marketing event.”

Cool new tenant for Stanton Forge

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Cool new tenant for Stanton Forge
A fast-growing Derbyshire supplier of commercial refrigeration equipment has been revealed as the latest occupier at the second phase of the Stanton Forge industrial scheme, near Ilkeston.HRS Refrigeration, which specialises in commercial refrigeration, ventilation and air conditioning as well as decommissioning and inspection, has taken Unit 1 at the second phase of the Stanton Forge scheme on Littlewell Lane in Stanton-by-Dale.Luke Hutchinson, Managing Director of HRS Refrigeration, said: “The second phase of Stanton Forge came at the perfect time for us and was the next step up as we have outgrown our current unit in Langley Mill.“The move to Stanton Forge means we can push forward with progression for the company with more space for workshop repairs, more stock levels and a nice place for customers and clients to attend meetings with us.”Alicia Lewis of NG Chartered Surveyors completed the deal for HRS Refrigeration to move into Unit 1 on behalf of private landlord clients.She said: “We’re not surprised by the reaction to the second phase of Stanton Forge; it’s one of the best new light industrial schemes in the Midlands. I wish Luke and his team at HRS Refrigeration all the best in their new home, and we’re looking forward to revealing who their new neighbours will be over the coming weeks.”

Profit warnings issued by listed companies in the Midlands at highest level since Q4 2022

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Profit warnings issued by listed companies in the Midlands at highest level since Q4 2022

Nine profit warnings were issued by UK-listed companies in the Midlands in Q3 2023, up from eight in Q2 2023, according to EY-Parthenon’s latest Profit Warnings report.

The nine profit warnings issued by companies based in the Midlands region between July and September 2023 was the highest quarterly total since Q4 2022, when 14 warnings were issued.

Across all UK-listed companies, the total volume of profit warnings issued during the third quarter (76 warnings in total) was down 12% year-on-year.

The number of warnings issued over the first three quarters of 2023 across the Midlands region (22) is marginally down on the same period last year, when 25 warnings were issued between Q1-Q3 2022.

Midlands companies operating in industrial and consumer discretionary FTSE sectors issued the highest number of profit warnings (seven) in Q3 2023.

Dan Hurd, a partner at EY-Parthenon in the Midlands, said: “Listed companies across the Midlands have issued a consistently high volume of profit warnings throughout 2023. Conditions are set to remain challenging into 2024 as tightening credit conditions, rising interest rates and disruptions to supply chains continue to affect businesses across all UK.

“The manufacturing sector, once again, experienced a challenging quarter as high borrowing costs took their toll on profitability. As we enter the final quarter of the year, contingency planning will remain vital as geopolitical and macroeconomic headwinds continue to impact the UK economy.”

National profit warning figures

Prior to Q3 2023, warnings issued by UK-listed companies had risen year-on-year for seven consecutive quarters, the longest run of consecutive quarterly increases since 2008. UK-listed companies issued 86 warnings in Q3 2022 and 51 in Q3 2021. Despite the year-on-year fall, the number of Q3 2023 profit warnings remains 18% higher than the post-credit crisis quarterly average.

The report reveals that persistent inflation and rising interest rates continue to put significant pressure on UK businesses. A third (33%) of the warnings in Q3 2023 cited tougher credit conditions as a factor — the highest level recorded by EY-Parthenon since 2008.

Broader economic uncertainty also played a role across many of this quarter’s warnings, with 21% citing delayed or cancelled contracts and 18% citing weaker consumer confidence. One-in-five (20%) of Q3 warnings cited the slowing housing market as a factor, while the same number (20%) referenced cost pressures. In the last 12 months, 17.8% of UK-listed companies have issued a profit warning.

Jo Robinson, EY-Parthenon partner and UK&I turnaround and restructuring strategy leader, said: “While it’s encouraging to see UK profit warnings fall for the first time in two years, the growth of credit-related warnings indicates that pressure on businesses is unlikely to ease for the foreseeable future. In fact, we’re seeing economic stresses extend up the value chain, spreading to mid-market companies.

“It’s clear from this data that the steepest rise in interest rates in 40 years continues to take its toll, with a high proportion of warnings due to an increasingly expensive borrowing environment. This poses a risk for companies that are due to refinance and we’re already seeing this affect sectors where credit is a key activity driver, such as in the housing market.

“Unlike 2008’s global credit crisis, today’s companies, banks and consumers all have stronger balance sheets and extended debt maturities, which will continue to stagger the effect of base rate rises. This adds a layer of resilience but shouldn’t create overconfidence. Businesses that are at risk should act immediately to reshape operations to withstand future shocks. Delaying action risks damaging business value, particularly in this fast-moving market.”

Dow Schofield Watts expands Midlands corporate finance team

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Dow Schofield Watts expands Midlands corporate finance team

Dow Schofield Watts (DSW) has expanded its recently established Midlands corporate finance team with the appointment of a new associate director. Lucy Fairclough will be based at its new Leicester office at Gresham Works on Market Street.

Her appointment comes just weeks after the team was set up and brings the total number to four. Lucy who is originally from the Midlands, spent over 15 years with PwC and KPMG in London. At KPMG she provided advice to clients including INEOS Group, National Australia Bank and Macquarie Group. Whilst at PwC she worked on deals including PFI partnerships and initial public offerings on the UK stock exchange, and spent time on secondment to a regulatory body. More recently she has combined a career break with providing consultancy to a real estate developer and an online retail business.

Lucy will support the team in advising on deals including sales, management buyouts, acquisitions and equity and debt fundraising, working primarily with owner-managed and private equity-backed mid-market businesses.

DSW’s Midlands corporate finance team was set up in September by Harry Walker, Fahim Kassam and Daniel Chouciño who joined from FRP Corporate Finance and is currently based in Leicester and Nottingham, with plans to expand further within the region in the future.

Lucy said: “I’m delighted to have returned to the Midlands. It’s where I started my career and I’m looking forward to reconnecting with my network and being part of DSW in the region. Being able to work with the highly credible team of Harry, Fahim and Daniel was a key attraction together with the strength of the DSW Network and its extensive capabilities.”

Harry Walker added: “We are really pleased to welcome Lucy to the team. Her exceptional track record and complementary skillsets will further strengthen our offer to clients and our local presence. It’s been an exciting few months for us and we’re looking forward to continuing the growth of our team and offering in the near future.” 

Skills gap is stifling growth ambitions and leaving us at a standstill, say small firms

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Skills gap is stifling growth ambitions and leaving us at a standstill, say small firms
Small businesses planning to grow continue to face a deep-rooted and unyielding skills shortage, Federation of Small Businesses (FSB) research has found. The figures, taken from the business group’s latest Small Business Index (SBI) reveal that 22 per cent of small firms now identify the lack of skilled staff as a stumbling block for growth in the upcoming year. As digital technology continues to develop rapidly and businesses of all sizes feel the impact, 38 per cent of firms in the information and communication sectors report finding appropriately skilled staff as a barrier. This sector requires constant upskilling and amid a digital skills shortfall and vying with larger companies, small businesses find meeting their labour needs challenging. Similarly, with 45 per cent of construction sector businesses citing the skills gap as a significant hurdle, this poses a concern in light of the Government’s goal to build one million homes – a target small construction firms are essential to achieving. In other sectors, skills shortages were also an issue for:
  • 28% of manufacturing businesses
  • 23% in the professional, scientific, and technical activities sectors
  • 14% in wholesale and retail trade
Previous FSB research shows that 83 per cent of small businesses have provided an average of seven days training for each employee – underscoring their commitment to maintaining skills to prevent a workforce skills gap. To make it easier for small firms to upskill, FSB would like to see the Government:
  • Ensure all schools can provide GCSE and A-Level computer science or ICT courses.
  • Ensure skills bootcamps – used by 76% of small firms – continue to play an important role in helping increase the digital skills.
  • Continue to cover 95% of apprentice training costs for small businesses hiring apprentices, easing the upskilling process, and offering incentives for growth.
  • Make training in new skills tax deductible for the self-employed, allowing them to pivot into new areas of business.
FSB Policy and Advocacy Chair Tina McKenzie said: “Small businesses are eager to grow but many find themselves at a standstill, with skills shortages putting a brake on their ambitions. At a time where the economy needs it the most, firms are left hamstrung. “This impact is especially sharp in construction, where small housebuilders are instrumental. As we shift to the digital age, too, it’s essential to support the self-employed to branch out and upskill without being held back by the tax system. “One of the main things we hear from our members is how difficult it is to recruit at all skills levels, which is why we need to invest in lifelong learning. This cannot happen overnight but will unfold over time and needs supply-side reforms to make it work. “The future of our economy relies on skills. Unless we create pathways for small businesses to tap into a readily available talent pool, the economy is at risk. This is more than just patching over a hole in the ceiling – it’s about empowering a workforce that can propel the economy forward.”

Important milestone for Rolls-Royce’s UltraFan technology in Derby

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Important milestone for Rolls-Royce’s UltraFan technology in Derby
Rolls-Royce has successfully run its UltraFan technology demonstrator to maximum power at its facility in Derby. The initial stage of the test was conducted using 100% Sustainable Aviation Fuel (SAF).
This is an important milestone for the UltraFan demonstrator, which was successfully tested for the first time earlier this year. Since then, the UltraFan team has been gradually increasing the power as part of the rigorous testing regime and the demonstrator has performed in line with expectations. The results of the test will provide valuable learning and data, which Rolls-Royce teams will now take away and continue to analyse. Rolls-Royce says this achievement reinforces its confidence in the suite of technologies that has been developed as part of the UltraFan programme. Confirming this capability is a big step towards improving the efficiency of current and future aero-engines as UltraFan delivers a 10% efficiency improvement over the Trent XWB, which is already the world’s most efficient large aero-engine in service. In total that’s a 25% efficiency gain since the launch of the first Trent engine. UltraFan’s scalable technology from ~25,000-110,000lb thrust also offers the potential to power the new narrowbody and widebody aircraft anticipated in the 2030s. As part of the UltraFan development programme Rolls-Royce has identified a number of technologies that are potentially transferable to its current Trent engines, which will provide customers with greater availability, reliability and efficiency.
Tufan Erginbilgic, CEO, Rolls-Royce plc, said: “Hitting full power with our UltraFan demonstrator sends a strong message that Rolls-Royce is at the cutting-edge of innovation and technology, leading the way in the transition to more efficient and sustainable aviation. This fantastic milestone puts us in a strong position to support the plans of our customers as they develop the next generation of super-efficient aircraft.”
Simon Burr, Group Director of Engineering, Technology and Safety, Rolls-Royce plc, added: “We estimate that to reach Net Zero flying by 2050, a combination of highly-efficient, latest-generation gas turbines such as UltraFan operating on 100% SAF are likely to contribute around 80% of the total solution, which is why today’s announcement is such an important milestone for Rolls-Royce and the wider industry.”
The UltraFan demonstrator run to full power took place in the world’s largest and smartest indoor aero-engine testing facility – Testbed 80, in Derby. Testing the demonstrator is the culmination of many years work, which has been supported by the UK Government through the Aerospace Technology Institute (ATI), Innovate UK; the EU’s Clean Sky programmes plus LuFo and the State of Brandenburg in Germany. UltraFan has been a decade in the making, with the concept unveiled publicly in 2014.

61-home development set for Higham on the Hill

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61-home development set for Higham on the Hill
Owl Homes has gained full planning permission for a 61-home development in Leicestershire. The 6.39 acre site in Higham on the Hill consists of a mix of one, two, three and four bedroom homes, with 36 allocated for private sale and 25 designated as affordable homes. The site was acquired earlier this year as part of Owl Homes’ strategic growth drive. Dave Bradley, Managing Director of Owl Homes, said: “The acquisition of full planning permission for our Higham on the Hill development is an important milestone.” Construction is expected to start Spring 2024

Provider of contract services, plant hire and haulage services enters voluntary liquidation

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Provider of contract services, plant hire and haulage services enters voluntary liquidation
Lyndon Thomas, a provider of contract services, plant hire and haulage services to the construction industry, has entered voluntary liquidation. The Northamptonshire firm provided heavy earthmoving equipment and skilled operators, and specialised in bulk earthworks and major civil, infrastructure and utilities projects. According to reports from Construction Enquirer, the business’s issues were compounded by bad debts. The company, founded in 2000, recently hit headlines after one of its hired excavators was used to demolish an 18th Century pub, Crooked House, in the West Midlands. While the fire damaged venue had been given the go ahead by councillors to be made safe and debris removed, the digger, hired prior to the fire, was used to demolish the pub. The firm’s MD, Lyndon Thomas insisted the business has done nothing wrong, rather just hired out the equipment.

Duo raise more than £1,600 for local causes by conquering Three Peaks Challenge

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Duo raise more than £1,600 for local causes by conquering Three Peaks Challenge
The chance to conquer three peaks, covering a distance of 21 miles in just ten hours was the huge challenge facing two members of the team from luxury lifestyle store Bell of Northampton. Director Dave Richardson and Bathroom and Tile Manager, Parshin Pourmozafari took part in the challenge to help raise money for Cynthia Spencer Hospice and the Northampton Hope Centre as part of the Northampton store’s 125th anniversary. To date, the pair has raised more than £1,600 for the local causes which are close to the hearts of everyone at Bell. Dave said: “We have both spent time out in the Peak District so challenging ourselves to conquer the three peaks of Kinder Scout, Bleaklow, and Higher Shelf Stones was something we were both keen to do. “We went with a guide so there was just three of us and the views were absolutely incredible. “It was really intense, and the last few miles of the challenge were tough – physically and mentally. But we were thrilled to finish and raise so much for Cynthia Spencer Hospice and Northampton Hope Centre.” Parshin said: “It was really tough, but what kept us going was the incredible support we have both had from our friends, family, customers and suppliers who have all been so generous with their donations. “Thinking of them and the incredible work these charities do for our community really kept us going.” Throughout the year, the team at Bell has been taking part in a number of fundraising challenges as part of its 125th anniversary celebrations. So far, the team has raised more than £9,600.

Clay Cross town centre regeneration becomes a reality as green light granted

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Clay Cross town centre regeneration becomes a reality as green light granted
Clay Cross Town Board and North East Derbyshire District Council have reached a major milestone in their proposals for the Town Deal’s Town Centre Regeneration, as Planning consent was approved by the Planning Committee. The approval covers several key elements which are:
  • The creation of a new Town Square which will become a public space to be used for markets, seasonal events and as a public forum.
  • Food and beverage and leisure units – the route from Broadleys to the public square to be lined with artisan food companies, leisure operators and cafes and restaurants.
  • The pedestrianisation of Market Street, creating more public space for visitors.
  • Repurposing an existing historic building with the aim of providing a quality food and drink offering and leisure opportunities, directly overlooking the public square.
  • Improving connections through the town by re-opening access between Bridge Street and Market Street.
Further work is also being undertaken by the Town Board to explore the possibility of direct access to a car park via the A61. Clay Cross Town Board Chair, Lee Barnes said: “I’m overjoyed to see the town centre proposals approved. “It’s a milestone very personal to me, as a Clay Cross business owner, and someone who has spent a career in regenerating urban areas, so to be able to see the go-ahead for great improvements coming to a town that is local to me, has been a great privilege as Chair.” Clay Cross Town Board member and North East Derbyshire District Council Leader, Cllr Nigel Barker said: “Following months of hard work and collaboration between officers, members and partners, we’re delighted to see our efforts pay off to earn the approval of a really solid set of proposals that will bring Clay Cross’ town centre into an exciting new era for residents and businesses. “Clay Cross has not seen significant investment for many years and to be able to now deliver the news that this project will go ahead and put Clay Cross on the map, bring employment opportunities for our communities and having fantastic facilities and a centre for the town is really exciting. I am honoured to be able to deliver this for all of us.” Martin Kirkpatrick, Director of Buttress, who have been central to the design of the Masterplan, added: “This is good news. The development holds great promise in supporting the Clay Cross Town Board’s vision to provide a vibrant hub for both visitors and business opportunities. “The historic buildings within the Clay Cross conservation area, with this investment, are poised to become the heart of the town, offering a catalyst for new and exciting entrepreneurial prospects.” This decision follows a string of recent Town Deal milestones in recent months, such as launching the Low Carbon grants for businesses and the significant progress of developing the Clay Cross Active leisure facility, in what is set to be one of the most pioneering community assets in the region.
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