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Start-up boost for East Midlands economy in vital Christmas run-up
A sharp rise in the number of companies set up in the East Midlands is a welcome boost to the local economy, with the possibility of an increase in employment rates and business growth in the vital pre-Christmas trading period.
According to the Midlands branch of R3, the UK’s insolvency and restructuring trade body, start-ups rose by 9.14% in the East Midlands last month, from 2,319 in September to 2,531 in October.
R3 Midlands’ figures, which are based on an analysis of data from business intelligence provider Creditsafe, also show a year-on-year rise of 12.44% in the East Midlands compared to October 2022, when start-ups numbered 2,251.
The R3 analysis also highlights a fall in the number of East Midlands companies with late payments on their books, a trend which has continued over the last six months. Insolvency-related activity in the region, which includes liquidator and administrator appointments as well as creditors’ meetings, has also decreased over the past month.
R3 Midlands chair Stephen Rome said: “It is encouraging to see positive statistics for our region, particularly as trading conditions are so challenging at present.
“With the upcoming Christmas period a crucial time for so many firms, the data indicates that there is still scope for growth in the Midlands. Advances in technology, interconnectedness and cheaper workspaces compared to London are helping to make it easier to start a new business here.
“The fall in companies with late payments is further good news for our region, however it should be noted that late payment figures remain relatively high and can pose a significant threat to a company’s health if not dealt with promptly.
“Should significant cash flow difficulties arise, it’s crucial for business owners to take professional advice as soon as possible. There is a significant amount which can be done to rescue and support local businesses, beyond traditional insolvency solutions, if help is taken early enough.”
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Landowners and farmers offered free trees to plant on their land
Landowners, farmers, and other groups have until the end of November to apply for free trees to plant on their land in a scheme involving the Woodland Trust.
The scheme provides free packs of trees and hedges designed to help renew and restore existing woodland and vegetation, as well as replacing trees which have been affected by diseases such as ash dieback and encouraging more tree planting across Leicestershire.
The deadline for applying for the free tree and hedge packs has now been extended to Thursday 30 November, with successful applicants being able to collect their trees from Beaumanor Hall in Woodhouse on Wednesday 21 February 2024.
The tree packs are being made available to anyone who lives in Leicestershire with suitable areas of land to plant – including community groups, parish councils and schools, as well as landowners and farmers.
Each free tree pack includes 50 native trees – a mix of oak, wild cherry, crab apple, field maple and hazel, as well as tree guards and stakes. The hedgerow packs are made up of 250 native trees and shrubs, including a mix of hawthorn, hazel, field maple and oaks to plant at regular intervals along the hedgerow. Each hedgerow pack is enough to create a 50m-long hedge at five plants per metre.
Last year, the county council gave away around 50,000 trees from this and other similar schemes – and is hoping this year’s scheme will prove even more successful.
Councillor Blake Pain, cabinet member for the environment and the green agenda, said: “Trees play a vital role in keeping our air clean, helping to prevent flooding and providing valuable habitats for local wildlife. The free trees scheme is always hugely popular with groups, schools, and other landowners, which shows that the people of Leicestershire share our commitment to making the county a greener place to live and work.
“We have extended the deadline for applications to give more people the chance to sign up for the tree and hedge packs, and I would encourage anyone with a suitable area of land to apply to become part of this great scheme.”
Anyone who would like to apply for a free tree or hedgerow pack is asked to register by emailing lcctreepacks@woodlandtrust.org.uk
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UBS Chairman accepts title of Visiting Professor at Loughborough Business School
UBS Board Chairman Colm Kelleher, has accepted the title of Visiting Professor of Banking and Finance at Loughborough Business School.