Alpkit scales new heights with latest Crowdfunding campaign
Nottingham outdoor retailer, Alpkit, has far exceeded its £750,000 crowdfunding target, raising a total of over £2.3m to date, through Crowdcube.
The company, which has multiple sites in key locations across the UK, has also seen demand increase from international markets across Europe and the US.
Alpkit are a performance outdoor & bike brand, targeting mountain enthusiasts, who run, hike, climb, camp, swim and bike. Having increased sales to £14m in just eight years, they have opened 5 new stores and become a B Corp since their 2020 raise.
In 2020 the company raised £1.5m from 1350 customers in less than an hour. It was one of Crowdcubes fastest ever and Alpkit’s premoney valuation has increased by 44% since then.
Alpkit is now looking to grow its UK & international web sales and have ambitious plans to open 2 stores a year and set up a European hub.
David Hanney, CEO and co-founder says, “Having customers as shareholders helps us stay aligned to our purpose. And when we do that, our business flourishes – we know we’ll still be making great product and doing good things not just in 5 years but in 25 years.”
The crowdfunding campaign remains open for a further 4 days
900 jobs at risk as Bakkavor announces closure of two East Midlands sites
900 jobs are at risk in the East Midlands region as Bakkavor announces closure of two local factories.
The company is proposing to close Bakkavor Salads in Sutton Bridge, Lincolnshire and Bakkavor Desserts in Leicester, with around 900 staff working between the two sites.
The company blames the macro-economic backdrop and in particular consumer sentiment in the UK , which it says remains very challenging.
In a press statement the company states: “As reported in our Half Year Results announcement in September, the significant level of inflation and consumer headwinds we are continuing to face are expected to persist into next year.
“Recent investments across our UK operations to enhance our capacity and capabilities provide us with a strong platform on which to further leverage our scale and flexibility. Therefore, as we seek to protect our business, we have undertaken a detailed review of our UK footprint. We are proposing to close two sites; Bakkavor Salads in Sutton Bridge, Lincolnshire and Bakkavor Desserts in Leicester. Our other UK sites have the capacity and capabilities to continue to fully service our customers should these proposals go ahead.
“As a business that invests in the development of its people, rewards long service and invests in the local communities in which we operate, it is with great sadness that this difficult but necessary business decision may impact a number of our colleagues. Across the two sites, we employ over 900 colleagues.
“We will shortly be commencing a 45-day consultation period with affected colleagues and their representatives at both sites. If the proposals go ahead, we will do everything we can to support our colleagues and try to minimise job losses. We are committed to offering our weekly paid colleagues comparable roles at a different Bakkavor site, and for those where this is not possible, we will be working on several initiatives to help colleagues secure alternative employment opportunities in their local area.”
Mike Edwards, CEO, commented:“As with businesses all over the UK, we are having to take decisive action to adapt to the challenging macro-economic backdrop. The decision to close any site is never taken lightly, and we do not underestimate the impact of this announcement on our colleagues and the local communities within which we operate. We remain committed to both protecting our business and doing everything we can to support our people through this difficult time.”
£21k pa savings for Academy following ground breaking environmental project
A Lincolnshire Academy is investing in a ground-breaking environmental scheme which will slash energy bills and reduce its carbon footprint.
A heat pump, thought to be the first of its kind in northern Lincolnshire, will replace the 31-year-old system to help provide the heating and hot water in a £520,000 scheme.
Lincolnshire Gateway Academies Trust has secured the funding from the Department for Business, Energy and Industrial Strategy (BEIS) as part of its Public Sector Decarbonisation Scheme, delivered by Salix Finance.
The scheme aims to put the public sector at the forefront of decarbonising buildings in the UK.
The school has also installed 359 solar panels at the site and swopped out all internal lights to LED.
The project is expected to save more than 3,000 tonnes of harmful carbon dioxide being emitted into the earth’s atmosphere over its 25-year lifespan.
Trust Chief Executive Officer Martin Brown said unpredictable and increasing costs of oil, together with the opportunity of funding, prompted the move.
“Somercotes is our only Academy where heating is provided by oil,” he said.
“We’re proud to be installing energy efficient, air source heat pump technology and showing our students we are reducing our environmental impact, something as young people they feel very strongly about.
“The scheme will also help with rising energy costs. Oil for the old boiler system costs around £20,000 annually, expected to rise to between £25,000 and £30,000 this winter.”
The air source heat pump is estimated to save almost £9,000 a year and the solar panels more than £12,000 through on-site generation.
“With all the improvements, we’re anticipating a cost saving of £21,000 annually, money which can be used to benefit students elsewhere in the Academy,” said Mr Brown.
Salix Finance delivers funding on behalf of Department for Business, Energy and Industrial Strategy (BEIS) and also offers support and expertise to the public sector to decarbonise, improve energy efficiency and lower bills.
The project was driven by Rob Middleton, Facilities Officer at LGAT. He and Facilities Manager Mark Shadbolt watched as the £200,000, 7.5-tonne heat pump, was dropped into its position using a 75-tonne crane.
He said: “I saw the scheme through doing some research last October and we heard of our successful bid in February, so it’s been a long road to this point.
“It’s going to have a dramatic impact on our carbon emissions. The heat pump will reduce the carbon dioxide produced every year by 69%, preventing 98 tonnes going into the atmosphere annually. The solar panels will account for a further 26 tonnes and changing to LED lights 25 tonnes.”
Mr Shadbolt said: “Seeing it in situ is a big relief. Rob’s put in a huge amount of work to get it to this point and we’re just looking forward to progressing with the scheme.”
The switch from oil to the heat pump is scheduled to be completed in the February half term.
The solar panels across three rooftops have been installed and are already generating up to 50% of the school’s required energy. The heat pump will make up the shortfall.
Smart metering and a building energy management system will provide data to ensure the system is operating effectively.
Fouad Amuni, client support officer at Salix Finance, said: “Working on the Trust’s decarbonisation project has been really exciting and inspiring.
“They got rid of a 31-year-old fossil heating system and are replacing it with clean, energy efficient heat pumps.
“They’re also adding solar panels and Building Energy Management Systems (BEMS).
“They’re making a really positive environmental impact by saving over 3,000 of tonnes of carbon over the next 25 years and at the same time educating future generations about the importance of renewable and sustainable energy.”
IM Properties pushes button on 340,000 sq ft net zero scheme at Hinckley park
IM Properties is pushing forward with a new 340,000 sq ft speculatively built Net Zero Ready logistics and manufacturing unit on its Hinckley Park employment scheme.
The delivery of Hinckley 340 is part of the final phase of development on the remaining 18 acres at Hinckley Park, providing a new HQ facility opportunity with two storey offices, alongside two other smaller buildings of 47,000 and 60,000 sq ft .
Located next to junction 1, M69, Hinckley Park has already created jobs for 1500 people and is a proven prime location, home to DPD who have one of Europe’s largest and most technically advanced parcel depots and a 532,000 sq ft unit let to Amazon.
An industry leading specification in line with the UK Green Building Council (UKGBC) recommendations will set Hinckley 340 apart and reflect the ambitions of IM Properties’ new Sustainable Future’s framework.
Hinckley 340 will be delivered as *Net Zero in Construction and **Net Zero Ready which means the building will be optimised to allow occupiers to be ***Net Zero in Operations.
It will target BREAM Excellent and an EPC A rating with solar PV roof coverage, EV charging spaces, cycle storage facilities and have an active travel plan in place to include a regular bus service and a network of cycle paths and footways for future occupiers and their staff.
Harry Goodman, development manager at IM Properties says despite the economic headwinds the company felt Hinckley Park offered a compelling case for investment.
“The key drivers of location, labour and connectivity have always stood out for the employment park, set on the borders of the East & West Midlands and just a short distance from the major conurbations of Leicester and Coventry.
“It draws on a large catchment area for last mile delivery operators and is also close to air and rail hubs including BIFT and Hams Hall Railports which appeals to the rich source of supply chain operators in the Midlands.”
Goodman continues: “The increased transparency required for all businesses on the sustainability front allows Hinckley 340 to aid occupiers in futureproofing their operations ahead of regulation and set a benchmark within their own sectors.
“As a major investor in the Midlands, we hope to use our influence to help set industry standards and work alongside our occupiers and supply chain to create positive change and reduce carbon emissions.”
Working in partnership with the main contractor, Winvic Construction Ltd, IM Properties continues to play an active role in the community, committing through an Employment and Skills Charter to provide training and employment opportunities for local businesses and individuals at all stages of construction on site.
IM Properties is represented by local agents Wells McFarlane and CBRE and Avison Young.
Downsized plans submitted for Lincoln Imp’s Stacey West Stand project
Lincoln City FC Directors have downsized plans for the redevelopment of the iconic Stacey West Stand at the LNER Stadium.
Original plans for the stand included an extra tier with a hospitality suite, boosting capacity by around 1,500, but due to the current economic climate, the project will now proceed as a two-tier development.
In a press statement, the club said: “Against the acute backdrop of an economic climate that has further weakened, and which remains both challenging and volatile, this project has presented many challenges which were unforeseen at its outset three years ago. Despite this, the board’s non-negotiable position on investment remains unchanged – firmly and responsibly committed to growth and progress, but without placing the financial future of the club at risk.
“Following a further project review, the board concluded that the original proposal would present an unacceptable risk to this commitment. Nevertheless, it remains absolutely dedicated to investing in infrastructure, and to delivering on the original project objectives – increasing capacity, improving fan experience and creating new community facilities.
“Therefore, to maximise the £1.8m already secured from various grant funds and investment from supporters and investors alike, the project will now proceed with a two-tier development, omitting a proposed third-tier hospitality suite, demonstrating that the club remains fully committed to increasing its social impact in the community through the vital work delivered by Lincoln City Foundation.
“Building a new Community Skills and Education Hub will help tackle the growing skills gap in the city by providing the Foundation with a fit-for-purpose facility from which it can champion the delivery of education and employability skills, all under the brand of the football club. The contemporary new-build will offer community space, offices and dedicated classrooms, enabling the club to increase its social impact value and improve the quality of life of local residents through its wide range of educational, health and well-being initiatives.
“Following a successful pilot scheme in early 2022 and a recent landmark change in legislation, the club will seize upon this new opportunity by investing in rail seating. Working closely with the Sports Grounds Safety Authority, the club have submitted an application to trial ‘safe-standing’ in a small section of the Stacey West Stand – with the intention of installing rail seats throughout the entire stand should the trial be successful.
“In addition, the club will install barriers in Upper 7 of the GBM Stand to facilitate the safe-standing of supporters in that area. If successful, along with improving stadium aesthetics and fan experience, this significant investment in infrastructure would place Lincoln City as a leading player in safe-standing at football stadia in England, and also offer the potential to increase the LNER Stadium capacity to 11,500.
The project will also benefit from some key infrastructure improvements including:
• Investment in a new mains water supply to the LNER Stadium, addressing the much- needed demand for improved services for supporters
• Investment in power supply to the LNER Stadium, part of a longer-term strategic plan to become more energy-efficient, which will also enable other further plans such as enhancements to the University of Lincoln Fan Village
• Investment in a new, state-of-the-art recycling irrigation system which aims to re-use up to 50% of the water used to irrigate the fibre sand pitch, providing much-needed economic and environmental benefits and a major step forward as part of the club’s climate action plan
T”he matchday experience will be further enhanced by using the new Hub in other ways such as a social space, a shelter for vulnerable fans, family activities or a multi-faith prayer room.
“In line with the board’s vision to have a home that is contemporary, accessible, has soul and reflects the strength of the club’s ambition, this project is just one of many potential investments into infrastructure from a maintained list of future opportunities to upgrade the stadium as part of a longer-term plan.”
If only taxes were the only barrier to growth: By James Pinchbeck, partner at Streets Chartered Accountants
James Pinchbeck, partner at Streets Chartered Accountants, considers the barriers to, and avenues for, business growth.
The mini-Budget or fiscal event on Friday 23 September not only sought to address, in part, the cost-of-living crisis with its energy support bill but also to unleash the country’s economic potential with the lowering of taxes. The focus being on putting an end to what has been described as economic stagnation.
Having a tax regime that incentivises or motivates entrepreneurs and business leaders to start and grow enterprises needless to say is key, however it is perhaps only one element of what empowers, drives or facilitates growth.
Against a backdrop of a pandemic most businesses will have probably been more in survival mode as opposed to growth. Whilst innate resilience, along with financial support from the government, has no doubt helped organisations weather the storm, many in business are still recovering. Growth therefore may not yet be back on the agenda, or part of a short term or even longer-term strategy. Few business owners therefore probably have a growth mindset.
For those striving for growth there appears to be a number of key barriers, not just the current tax regime. Certainly, one of the biggest barriers, not just for growth but for just maintaining business, is the lack of available labour and skills to fulfill key vacancies. New approaches to recruitment and ways of working have in part helped to ease the situation, however much more needs to be done as part of a longer-term approach.
For those fortunate to be operating in a growing market, increasing revenue is somewhat easier than for those operating in a mature sector. For the latter, growth is more dependent on looking at innovation in terms of service and product and gaining a competitive advantage to take market share. For some growth may come about through increasing their geographical coverage.
When it comes to growing a business, it invariably requires investment, whether it’s in new products, business processes and systems, people or sales and marketing. Access to either own funds and external finance make such investment therefore key. Having the wherewithal is one thing, having the confidence to make such an investment is another. In uncertain times, and with the rising cost of finance, many will perhaps defer such a commitment.
Business growth fundamentally requires business leaders to have confidence in the market they operate and economic certainty, along with their organisations’ capabilities, competence and capacity to deliver growth.
Whilst growth may be close to the heart of many an entrepreneur or business owner, unless the conditions are right for it perhaps greater focus in the current climate should be around consolidation and improving profitability. A drive for growth can often be at the cost of increasing the value of what you already have. Perhaps a more balanced approach is what should be strived for.
See this article in the November edition of East Midlands Business Link Magazine here.
Four days to go until the East Midlands Expo – the ultimate networking opportunity
The highly anticipated East Midlands Expo is now just around the corner, offering the perfect chance to forge new contacts.
Free to attend, the established event of over 20 years will take place on Monday 14 November 2022 at the East Midlands Conference Centre, Nottingham, presenting everything you require for the ultimate day of business generation.
A well targeted exhibition and networking opportunity, aimed at the construction, property, business, investment, finance, professional services and related B2B markets, register to attend the expo for free here.
Business Link is a proud partner of the day, which will begin with exhibitor breakfast networking and open 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’.
A special networking lunch (for which tickets are now SOLD OUT) will then take place between 12:15pm and 2:15pm, and the exhibition will close at 3:30pm.
East Midlands Business Link looks forward to greeting visitors old and new and to add a little fun to the occasion, we’re inviting guests to drop their business card in to one of our ‘festively-charged’ staff for a chance to win a case of wine delivered direct to your door.
If you’d like it delivering to your home rather than your office, just write the delivery address on your card when you drop it in and don’t forget to let us know whether you prefer reds, whites or a mix.
For more information on exhibiting at the event click here.
To register to attend the event for free click here.
From property agents to developers, architects, contractors, investors, PR firms, and more, see the list of current exhibitors here.New office and team growth for Loughborough coaching firm
Business coaching franchise ActionCOACH Loughborough has moved into new and bigger office space in The Heritage Building in Loughborough, Leicestershire.
Located in the heart of the Loughborough business community, the new office will provide much-needed and dedicated space for the team to deliver coaching, training and seminars, and will house ActionCOACH Loughborough employees.
The office includes a meeting and board room, which will be available for other businesses to hire out and use for company or team meetings, as well as additional spaces for co-working and the ability for people to hire a desk on a daily basis.
The business has been based in Loughborough since 2015 and the move follows a successful period of growth for the firm, which is led by Managing Director Matt Bull.
Matt said: “I am incredibly proud of the team and all we have achieved as a business over the past few years, and delighted to have moved into a new and bigger office space to operate in.
“We are part of a supportive business community in Loughborough and by providing office and meeting space for businesses, we hope to connect with more people and grow our relationships beyond Leicestershire.”
As well as the office move, personal growth has been achieved for a number of team members including business development executive Jake Kebble, who has been promoted to head of membership development – leading on key events for the business and growing its membership.
Jake started at ActionCOACH Loughborough in November 2021, as part of the Government’s six-month Kickstarter scheme, as a data analyst before being promoted into a BD role.
Coach Kerry Malster has also been promoted to membership manager, she will be looking after and managing all members, social events and ensuring the ActionCOACH Loughborough experience is world class. Kerry will also continue her role as a business coach.
Matt added: “As a close-knit team of ten, we are committed to investing in our team members and I’m delighted that Jake and Kerry have been promoted into new roles within the business. Jake in particular has had a fantastic journey with us and I’m proud to see him grow into a head of role.
“We recently hit our milestone of 50 clients and the goal for 2023 is to continue to grow our client base as well as support local talent and investment in the area. We want to expand our coaches, to serve the demand, and recruit apprentice level and young people to train them to be the next generation of coaches.”
Digitised smart energy networks could save billions in energy costs across the Midlands
As the energy crisis continues, a new Midlands Engine report finds that digitised smart energy networks could save billions in energy costs across the Midlands.
A new report from the Midlands Engine has put forward a plan for the Midlands to become the UK’s first Smart Energy Region, helping tackle both the cost-of-living crisis and climate change. The report, Smart Energy – An Energy System for the 21st Century, was co-authored by the Midlands Engine partnership, Siemens and the University of Birmingham. It calls for the accelerated digitisation of regional energy systems to usher in significant domestic energy savings, job creation, and support for the continued rollout of cheap, clean energy sources. Smart energy systems can include ‘microgrids’, electric vehicles and smart meters, and would use digital technologies and artificial intelligence to balance energy needs across a network. In the case of the Midlands, the report identifies opportunities for consumers and businesses to save up to £70bn in energy costs, while slashing hundreds of thousands of tonnes of CO2 emissions and establishing the region as a world leader in smart energy. This month the National Grid began trialling a scheme using smart meters to help customers access discounts by using less electricity at peak time. The Smart Energy report identifies opportunities for similar schemes for small businesses and electric vehicle charging and highlights ways in which interconnectivity and use of data can drive even greater efficiencies. It calls for a number of initial steps to set the region on the right path, including the rollout of large-scale Smart Energy Pathfinder projects, the creation of a regional energy data taskforce, and the formation of a smart energy skills programme. It highlights the need for public sector support for decentralised energy systems, especially through more local renewable energy generation. These steps would follow a number of regional smart energy projects that are already underway, including the University of Birmingham’s smart campus plan. Combined with the region’s scale of energy utilisation (the Midlands accounts for a sixth of Britain’s electricity and gas demand) and its ambition to reach net zero, the report says the region could become a smart energy exemplar. Lord Bilimoria, Chancellor of the University of Birmingham and President of the Confederation of British Industry, said of the report: “The UK energy system is changing at an unprecedented pace. The ongoing energy crisis has shown how crucial it is that we secure a robust domestic supply of cheap energy, as well as reinforce our commitment to net zero emissions by 2050. “Smart energy systems are a crucial step on the way to achieving these aims, while providing regional growth and supporting high-skilled jobs. It’s fantastic to see the Midlands leading the way in their development, with the University of Birmingham, Siemens and the Midlands Engine combining their expertise to make potentially transformative policy recommendations.” Sir John Peace, Chairman of the Midlands Engine partnership, said: “The Midlands Engine partnership is committed to growing our region’s economy while ensuring a net zero transition for the next generation. The exceptional work of partners to lay the groundwork for smart energy, combined with our world-leading research and manufacturing base, means we are well placed to build on our history of powering the UK by driving forward the implementation of smart energy systems. “Smart technologies will also make an immediate impact, enabling users to better manage energy demand at a time of high inflation.” A focus on smart energy follows numerous recent advancements in the green growth sector in the Midlands. The region was recently chosen to host the West Burton STEP fusion project and has been moving forward with its plans for a hydrogen technologies valley. These are all underpinned by the Midlands Engine’s ten-point plan for green growth, which has set out a roadmap for a 36% reduction in CO2 emissions from 2020 levels, while generating £24.2 billion GVA for the region’s economy by 2041.North Lincolnshire Business Centre snapped up in £14m acquisition run
A North Lincolnshire Business Centre has been bought by property investment and development company, Hurstwood Holdings in Manchester.
The Queensway Business Centre in Scunthorpe was previously owned by by Dean Property Group, and the recently Refurbished centre boasts 20,820 sq ft comprising 33 offices from 168 sq ft.
Hurstwood Holdings has added the hub to its portfolio as part of a recent £14 million acquisition run in recent weeks, taking its total spend on new properties this year to £35m.
In addition to the Queensway Business centre, the company has completed the purchase of five additional industrial and office properties, nationwide, which include:
- Vision Park in Peterborough: Six modern warehouses totalling 15,037 sq ft and set to undergo a refurbishment, providing flexible leasehold accommodation from 1,150-6,781 sq ft.
- Fraser House in Ipswich: A 16,409 sq ft multi-let office building on Museum Street in the town centre where Hurstwood already owns another building. The prominently located, period building is fully let to Savills (UK) Limited, Peopleplus, Netscout, Attwells and Brewin Dolphin.
- Bridge of Don Industrial Estate in Aberdeen: Comprising six warehouse units, totalling 30,470 sq ft and fully let with occupiers including Andrews Hydrographics.
- Mandale Triangle in Thornaby, Stockton-on-Tees: A 30,656 sq ft industrial building that is part vacant and part let to a Gym company.
- Kings Court in North Shields: Situated close to the town centre, this two-storey modern office building totals 78,577 sq ft, the majority of which is let as a courthouse to the Secretary of State, which has been in occupation for more than 20 years.
