Nottingham firm expands global operations
Nottingham-headquartered compliance software company, Ideagen, has boosted its global footprint with a £2.5m investment in two new state-of-the-art facilities in India and Malaysia.
The two offices officially opened in Kuala Lumpur and Hyderabad last week with Ideagen CEO, Ben Dorks, joining both celebrations with local teams.
Speaking about the investment, Ben said: “Our operations in both Malaysia and India play an important role in helping to support the safe hands and quiet voices that protect the world.
“This investment in our people supports the continued development of our software solutions and growth plans, providing employees with a first-class working environment. It’s important our people have the best facilities with the best equipment and tools available to them.”
Ling Poh Teng, head of development and operations for Ideagen in Malaysia, echoed Ben’s comments at the Kuala Lumpur opening: “It’s a fantastic modern office set-up for our growing team and will help us attract the best talent while positioning us well for the future. Our team will love working here!”
The Hyderabad office provides Ideagen with a second location in the country, already having an established base in Odisha.
Ashish Mohanty, head of Ideagen’s India operation, said: “It’s an exciting time for the team to move into these offices. This investment demonstrates Ideagen’s commitment to growth in India, while also making the employees here feel supported and valued. It will serve us very well as we grow.”
Work completes on Grade II listed buildings at Ruddington museum
Refurbishment works have completed on the Framework Knitters Museum’s Grade II listed cottage and frameshop buildings.
The £62,295 project included external works, which were carried out on the buildings, and repairs to the roofs and chimneys, replacing the gutters, and repointing the walls, as well as insulation to the roofs and walls to improve the energy efficiency and provide much-needed protection from weather conditions.
The funds for the work, which was undertaken by Stevenson Bros, were awarded through the Arts Council of England’s Museum Estate and Development Fund (MEND).
MEND is an open-access capital fund, which is designed to help museums and local authorities to undertake infrastructure and urgent maintenance that are beyond the scope of day-to-day maintenance budgets.
Sarah Godfrey, creative and commercial manager of the museum, said: “We’re delighted that work has completed on our cottage and frameshop buildings, it’s important to keep them alive and thanks to generous funding from the Arts Council we were able to carry out much-needed repairs.
“The restoration, which has also made the buildings more environmentally sustainable, will help to ensure that a wide range of people can continue to access the museum, and to celebrate our historical textile heritage, for many years to come.”
Peter Knott, Midlands area director for Arts Council England, said: “The Framework Knitters Museum is a place of considerable communal and historic value, which tells the fascinating 400-year history of framework knitting.
“It is much loved by its local community and this work will help to secure the long-term survival of the buildings. We’re proud to have supported the project through our Museum Estates and Development Fund (MEND).”
East Midlands businesses lose confidence in May
Business confidence in the East Midlands fell 24 points during May to 17%, according to the latest Business Barometer from Lloyds Bank Commercial Banking.
Companies in the region reported lower confidence in their own business prospects month-on-month, down 31 points at 15%. When taken alongside their optimism in the economy, down 18 points to 18% this gives a headline confidence reading of 17%.
East Midlands businesses identified their top target areas for growth in the next six months as investing in their team (37%), devolving their offer (28%) and entering new markets (28%).
The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.
A net balance of 10% of businesses in the region expect to increase staff levels over the next year, down 18 points on last month.
Overall UK business confidence dropped five points to 28% in May. Despite the dip, every UK nation and region report a positive confidence reading.
As the country celebrated the Coronation, London reported the highest levels of business confidence at 43% (down four points on last month), followed by the North East at 35% (down six points month-on-month). The West Midlands, South East and South West, also reported high readings in May, all at 30%.
Firms remain optimistic about their own trading prospects, with a net balance of 34% expecting business activity to increase over the next 12 months, down just five points on last month.
Dave Atkinson, regional director for the East Midlands at Lloyds Bank Commercial Banking, said: “Business confidence in the East Midlands has dipped this month, following a similar trend seen across the other regions of the UK. However, confidence remains firmly in the positive territory and businesses continue to plan investments in their teams to drive growth.
“We will remain by the side of the region’s firms, to help them fund training opportunities and bring in the skills they need to deliver on their ambitions.”
Confidence among manufacturers increased to a one-year high of 40% (up from 29%), while retail registered a more modest two point rise to 26%, and construction remained robust at 34% despite its monthly nine point decline. Services confidence, however, fell back to 26% from 36%, almost erasing last month’s rise. Overall, confidence across the broad sectors remains above levels at the start of the year.
Hann-Ju Ho, senior economist for Lloyds Bank Commercial Banking, said: “As the economic environment remains challenging, compounded by stubborn inflation and higher wage pressures, business confidence has dipped slightly this month as firms feel cautious about the wider economy and their own trading prospects.
“However, while firms’ trading prospects and economic optimism both eased back, they still remain in positive territory as the UK has avoided an outright contraction in GDP – indicating a certain amount of underlying resilience in the economy.”
Stone Plus calls in the administrators
Jo Hammond and Gareth Rusling of Begbies Traynor have been appointed joint administrators of Stone Plus UK Limited.
Based in Mawsley, Kettering, the business supplies builders merchants and landscape centres with a range of natural stone, porcelain and concrete landscaping product, and also has distribution rights for Oakdale Greenscaping and McMonagle Stone for the south of England.
The company experienced financial difficulties due to shipping problems and cashflow pressure which led to significant debts accruing and made the business unviable. The director instructed Begbies Traynor to review the company’s financial position and it was subsequently placed into administration.
Stone Plus UK had three employees, all of whom have been made redundant.
Eddisons has been appointed to complete a marketing campaign for the business and its assets, and is currently evaluating offers prior to concluding a sale.
200 Degrees chooses West Bridgford for 20th shop
Speciality coffee roaster 200 Degrees has picked West Bridgford for the location of its 20th shop.
In a first for 200 degrees, the new shop features a roof terrace, making this the perfect location for summer drinks. Coffee lovers will be able to enjoy their favourite cup of hot – or iced – coffee overlooking views of the avenue.
This will be 200 Degrees’ fourth venue in its home city of Nottingham, following the success of its Flying Horse Walk, Carrington Street and Milton Street shops.
Rob Darby, CEO at 200 Degrees, said: “Nottingham is where it all began for 200 Degrees and the success of our three city shops – particularly Milton Street which opened last summer – has been phenomenal.
“We’ve had our sights set on West Bridgford for a long time, as it’s where our co-founder Tom and I have made our home. It’s also the location of our Meadow Lane Roast House, which provides all the coffee we need for our 20-shop estate, eight barista schools, wholesale partners and online coffee customers.
“West Bridgford is a thriving location, occupied by other popular brands and valued wholesale customers such as Birds Bakery and Forde’s, and it’s an exciting opportunity to join the buzzing food and drink scene there.
“We’ve often been asked when we’d be setting up shop in West Bridgford, so we’re looking forward to serving some of our long-time 200 Degrees supporters a little closer to home.”
It’s been a busy month for the independent coffee roaster already, as its 19th shop in Chester opened on Saturday 27 May, and the team are keen to crack on with the next project.
Sustainability is not such a modern concept
As the chase for net zero gathers momentum SMEs are being increasingly challenged to not just create plans for sustainability but to achieve them.
According to some reports, 50% of businesses have ambitions to achieve net zero by 2050 but only 11% believe they have the right strategy to get them there.
The focus on the environment may seem like a relatively recent movement but for some it has been a philosophy for well over a century.
Known as Lincolnshire’s favourite coffee roaster, Stokes Tea & Coffee is an award-winning family business with more than 120 years of experience in sourcing, roasting, blending and supplying the freshest coffees, finest teas, equipment, servicing and barista training. The company also runs multiple destination cafés and hospitality spaces.
Stokes has built a reputation amongst its peers for leading the way in sustainable practices. This is in part, testament to some solid habits which are as alive today as they were when the company began back in 1902. The mantras of ‘make do and mend’ and ‘waste not want not’ together with an uncompromising commitment to world-class levels of quality, are not just standing the test of time, they’ve been instrumental for decades in delivering effective ethical and eco practices.
Emma Olivier Townrow, Business Development Manager at Stokes, is helping to co-ordinate the sustainable efforts, she describes the journey so far.
“Stokes has never been just about profit. The family has always given back to its communities, operated responsibly, ethically and sustainably. These are not just snappy sound bites. I can honestly say that these behaviours and values are quite literally built into the DNA of the company. Minimising waste, being efficient and valuing resources is the Stokes philosophy.
“The company has just got on with it for decades and never been interested in virtue signalling or labelling its efforts when it comes to environmental or community activities. This has presented a very different challenge, as unlike many other businesses where sustainability initiatives are being developed to meet the requirements of things like B Corp certification, Stokes has so much in place already that is just business as usual.
“The behaviours and practices require retrospective ‘labelling’ as it were, rather than having to start something new, it’s been a case of finding and formalising what’s already in place. I’ve been working on the B Corp application to help Stokes get formal recognition and certification for the amazing work it’s been doing.
“There’s a vast amount already in place including investment in new heating systems and eco-friendly coffee roasters that significantly cut down on energy usage and emissions and a clear focus on minimising waste through upcycling, recycling and re-purposing. Stokes is close to its supplier base at home and abroad to ensure every penny spent benefits communities near and far. The company demonstrates that a team focus and strong principles can make huge headway when it comes to the sustainability journey.”
Emma’s Top Tips for Achieving Net Zero Targets:
1. Don’t be overwhelmed by the prospect of driving sustainable agendas, the UN targets all ultimately lead to overall benefits for businesses including efficiency, savings and greater business/community engagement.
2. Start small, for example by finding 3 ways to reduce single-use plastic, switch to greener suppliers or support a community project to develop a fresh perspective and approach towards tangible and sustainable business practices. Once you start looking, you’ll be surprised by how many ways you’ll find to reduce your carbon footprint.
3. Get your team onboard, share your ambitions and seek ideas from your people, better still create incentives or rewards for innovative ideas. Nothing breeds success like success, so find the wins and celebrate them.
4. Rethink how you dispose of your waste products – can they be reduced, reused or recycled?
5. Don’t be nervous about sharing your aims and ambitions with your customers, data shows consumers appreciate and value sustainable businesses. So, share your aspirations and seek collective solutions.
Find out more at: www.stokescoffee.com
Major milestone for Matthew Montague Architects
2023 marks the 25th anniversary of Matthew Montague Architects (MMA), which has provided the region a wealth of buildings in sectors ranging from sport to leisure, education, commercial, civic and residential.
The business has recently been working extensively with the University of Derby on its vision of how the University intends to develop its city centre footprint and improve connectivity between its sites.
The City Masterplan developed by the architects’ firm focuses on the development of the area around One Friar Gate Square, Ford Street, Bridge Street, Agard Street and Nuns Street, in Derby.
Matthew Montague said: “It has been a fantastic opportunity to be involved with the masterplan. It is ambitious, forward thinking and will help shape the future development of the University and the city, bringing new opportunities for students and businesses. It’s something we are really proud of.”
Daniel Evans, lead architect of the masterplan, added: “The concept for design focuses on simplicity, vibrancy, safety and sustainability. It draws on Derby’s industrial heritage and uses it to create a modern environment, keeping spaces open day and night.”
Being Derby born and bred and with his father being a founding member of Derby Civic Society, Derby’s heritage is very important to Matthew and over the years many heritage and restoration projects have given the practice a respected reputation for protecting and enhancing buildings that have contributed to Derby’s historic core.
The practice has designed and sympathetically restored many shops fronts across the city, more than 20 on The Wardwick and several others on Green Lane – many of these winning civic society awards.
MMA has been working with Derby’s oldest charity, The Liversage Trust, for many years. The Liversage Trust was established by Robert Liversage, a Derby business man in 1529. The Trust is an Almhouses Charity offering accommodation, care and grants to Derby residents in need. It has a varied, well managed, professional property portfolio comprising 160 Almhouses, a 40 bed care home and a variety of commercial units and residential properties across the city.
The portfolio has been managed, conserved and developed by the architect’s practice for over four decades. Initially by Montague Architects and subsequently by Matthew Montague Architects.
Matthew said: “The Liversage Trust has been part of Derby’s heritage for many years. Its portfolio of properties was managed and developed by Montague Architect’s for many years until we merged with them in 2017.
“We currently have projects to refurbish the London Road Almhouses and a full renovation of the redundant workshops on Alice Street to create new offices and workshops for the Trust’s staff. The refurbishment works to the Almhouses will futureproof them for the next 100 years, it’s a pleasure to be a part of it.”
The history of MMA is also interwoven with Derby County Football Club. Matthew’s support extends beyond the team’s performance on the pitch to being heavily involved in the design of the Academy facilities and a considerable amount of work around Pride Park Stadium including the iconic Clough Taylor memorial.
Repton School is another longstanding client of MMA, with numerous projects going back to the refurbishment of the 400 Hall Theatre in 2011. More recently a new dining hall was constructed at Foremarke Hall; Repton Preparatory School.
Matthew said: “This is one of my favourite projects that the practice has completed. The design is by my colleague Daniel Evans; it’s great design, a modern, high-quality project, it flows and sits seamlessly in its wonderfully historic setting. There is a great sense of satisfaction seeing a building completed as it was originally conceived.”
2023 is looking to be a good year for the practice as it continues to work with the University on their vision within the city. Meanwhile, AG Homes are set to build 33 apartments on Mansfield Road, a scheme designed by MMA, and there are exciting projects with Repton School, several commercial developments and houses.
Matthew added: “We are actually working on a project to refurbish Lonsdale House, which is fantastic as this was my first commercial job back in 1998, so 25 years later we are doing it all again!”
Timms Solicitors makes trio of key appointments
Timms Solicitors have made three key appointments across the firm to support its on-going growth.
Marketing manager Sharon Jeffery and finance and systems manager Ali Jodiyawalla have both been promoted to senior associate. Wills and probate solicitor Matt Kelly has also been promoted to associate after completing Timms’ bespoke Pathways career development programme.
Managing partner Fiona Moffat explained: “Everyone at Timms has a personalised career development plan and we are fully committed to supporting individual’s aspirations and goals.
“These promotions are all very much deserved. The marketing, IT and finance functions are obviously crucial in the sustained growth of the firm across our high street offices in Derby, Burton, Swadlincote and Ashby and Sharon and Ali’s promotions reflect the value that we place on their work and input into the business.
“Matt has successfully completed our Pathway to Associate programme and is contributing a great deal to the expanding wills and probate team.”
Sharon Jeffery, a CIM Marketing Professional, joined Timms in March 2014 following a career within the automotive and professional services sectors.
Responsible for creating and implementing the firm’s marketing and business strategy, Sharon leads a team who manage all internal and external communications, digital marketing, branding, PR and statistical analysis.
Ali Jodiyawalla joined Timms in early 2016 having graduated with a BA Hons in Accounting and spending six years at a reputable firm as head of finance.
In addition to managing the finance and IT department, Ali is also the compliance officer for finance and administrator and is a member of The Institute of Legal Finance and Management (ILFM).
Responsibilities of these roles include, the preparation and implementation of business plans, forecasts, KPI’s, financial reports and compliance with the SRA’s accounts rules.
In addition to accounts and finance, Ali is responsible for the maintenance and development of the IT systems, including network, servers, hardware and applications.
Matt joined Timms in March 2016 and is based at the Swadlincote and Burton offices. He qualified as a solicitor in 2007 and has many years of experience in private client work.
Matt is committed to expanding his wills & probate knowledge and experience and is a full member of the Society of Trust and Estate Practitioners (STEP). Additionally, Matt is also a fully accredited member of Solicitors for the Elderly (SFE).
Midlands businesses to delay investment due to corporation tax rise
The rise in corporation tax will force many Midlands companies to delay business investment, according to new research from accountancy and business advisory firm, BDO LLP.
Half of Midlands businesses (50%) say they will pause future investment, after the headline rate of corporation tax rose to 25% at the beginning of April 2023, up from 19% in the 2022-23 tax year.
BDO’s bi-monthly Economic Engine survey of more than 500 mid-market businesses has revealed that 33% of respondents will either have to make redundancies or take on fewer people, with the recent rise in corporation tax leading to a reduction in profits paid out to shareholders for 40% of businesses. Worryingly, nearly half (42%) said the uplift in corporation tax had prompted them to consider leaving the UK.
While many businesses had hoped the Chancellor would publish a roadmap at the Spring Budget setting out a phased reduction in corporation tax rates, no such announcement was forthcoming. The much-debated move follows years of tax-cutting by the Conservatives, from a high of 28% in 2011 to 19% in 2017. In his March 2021 Budget, then Chancellor Rishi Sunak announced plans to increase the headline rate in a bid to aid the country’s financial recovery post-pandemic.
Claire Hudson, tax partner at BDO LLP in the Midlands, said: “Pre-Budget, many Midlands businesses made their feelings clear that they would like to see a reversal of the rise in corporation tax. The Government has so far stood firm, but the Chancellor’s recent remarks on business taxes being too high suggests he might reconsider this position at the next Budget.
“Our survey indicates that the recent rise in the headline corporation tax rate will dampen current business investment plans and potentially hamper growth in the region as businesses pull back on spending.
“It has also highlighted a high degree of concern about the international competitiveness of the UK’s corporate tax regime. However, the new ‘full expensing’ capital allowances regime has been positively welcomed, suggesting the knock-on effect of the tax hike may only be short-term.”
According to Economic Engine survey, 68% of Midlands businesses say that the new capital allowances rules, which give businesses a 25% subsidy to buy new plant and machinery, would lead them to invest more in equipment.
Hudson added: “While it’s encouraging to see businesses planning to capitalise on the rule changes, there will be a swathe of service-led companies that will get little benefit from the new regime. Ensuring that service sector businesses are also incentivised to invest in growth, with subsidies being delivered in other ways, will be key to long-term, sustainable growth across the board.”
Boost morale at the East Midlands Bricks Awards 2023
Showcasing the region’s property and construction industry, and offering a prime opportunity for networking, the prestigious East Midlands Bricks Awards will return on Thursday 28 September, at the Trent Bridge Cricket Ground.
Nominations for the event are open, and now is the perfect time to make your submissions, ahead of the deadline (Thursday 31 August).
With the economy now recovering after lockdown, and following a successful event held last year, we believe it is more important than ever to celebrate the robustness of the property industry in our region. Take this ideal opportunity to shine a light on teams, reward their hard work, and boost morale.
To nominate your (or another) business/development for the East Midlands Bricks Awards 2023, please click on a category link below or visit this page.
To be held at:
Award categories include:
- Most active estate agent
- Commercial development of the year
- Responsible business of the year
- Residential development of the year
- Developer of the year
- Deal of the year
- Architects of the year
- Excellence in design
- Sustainable development of the year
- Contractor of the year
- Overall winner
Book your tickets now
Tickets can now be booked for the East Midlands Bricks Awards – click here to secure yours. The special awards evening and networking event will be held on Thursday 28 September 2023 in the Derek Randall Suite at the Trent Bridge Cricket Ground from 4:30pm – 7:30pm. Connect with local decision makers over canapés and complimentary drinks while applauding the outstanding companies and projects in our region, and hear from Mike Denby, Director of Inward Investment and Place Marketing at Leicester City Council, our keynote speaker. Dress code is standard business attire. Thanks to our sponsors:
To be held at:
