The Bank of England has announced that it will increase interest rates by 0.5% to 1.75% in a bid to bring inflation under control.
It is the biggest rise in interest rates for 27 years, acts as another risk to business confidence, and comes amid a forecast that the UK economy will contract for five consecutive quarters.
Scott Knowles East Midlands Chamber (Derbyshire, Nottinghamshire, Leicestershire) Chief Executive Scott Knowles said: “The Bank of England’s bleak forecast signals a struggle ahead for businesses, their employees and customers given the precarious state of the economy, but there is hope of improvement in the medium to long term if they get the support urgently needed.
“Spiralling costs – from energy, fuel, people and raw materials – are cited by firms as by far and away the top concern right now, with 62% of East Midlands companies telling us they expect to be forced into raising their own prices in our latest Quarterly Economic Survey for Q2 2022.
“There are many causes of the current inflation crisis – global supply chain problems, trade barriers, soaring energy costs, increased taxes and labour market shortages – and this combination has caused very real crises in both the cost of living and cost of doing business.
“Interest rate rises alone will do little to address these and there is a risk it will continue to stifle investment among small businesses, which often require loans that are quickly becoming more expensive to service.
“With investment intentions among our region’s firms down – by 6% compared to the previous quarter for plant and machinery, and by 3% for training – the direction of travel by the Bank of England does not appear to offer much hope this will change.
“With the incredibly tight labour market putting upward pressure on inflation and long-term confidence beginning to wane, it’s crucial the Government now works with the private sector to come up with a solution that will enable business to drive the growth that can minimise the impact of the forecast recession.
“This should include reducing the costs for small businesses to invest in upskilling their workforce and providing training-related tax breaks, as well as reforming the shortage occupation list to allow sectors facing urgent demand for skills to get what they need.”
Alpesh PalejaAlpesh Paleja, CBI lead economist, said: “The Bank of England’s latest rate rise is the biggest in 27 years, and follows in the footsteps of strong tightening by other central banks. It underscores the seriousness of our inflation problem, but also demonstrates the MPC’s willingness to act in response.
“Despite early signs of some pipeline price pressures fading, it’s clear that we’re in for a hard winter. With another hefty rise in Ofgem’s energy price cap looming, support for the most vulnerable households and businesses should be kept under review.
“Monetary policy is the first line of defence against inflation, yet building resilience to future price shocks requires a concrete plan for economic growth. So the new Prime Minister must prioritise boosting productivity through greater business investment via incentives and business rate reforms. Meanwhile, investing in energy efficiency can support people struggling with the cost-of-living crisis.”
Martin McTague of the FSBFederation of Small Businesses (FSB) national chair Martin McTague said: “The need to get a grip on inflation is clear, with costs at a record high for 89% of small businesses according to FSB’s latest Small Business Index – driven by fuel, utilities, inputs, labour and tax hikes.
“Moving interest rates is not without consequences: it’s removing steam from the economy at a time of meagre growth. Small businesses already face grave uncertainty as they try to recover from the impact of Covid, while contending with the cost of doing business crisis.
“First, many commercial, personal and professional loans that small businesses and sole traders hold are not protected by fixed rates and will move in line with the increase today. In a situation where inflation is already putting many small firms in extremely difficult conditions, there is now further concern that these businesses will face higher costs in paying back their loans.
“Second, attempts to get back to a functioning commercial lending market will be hampered as new products will become more expensive – and so small firms will find it harder to access affordable credit. The British Business Bank’s Recovery Loan Scheme is coming back later this month, and this could not happen soon enough. If the economy slows in autumn, it will be even more important for the scheme to be operational and in place, so it can be flexed up.
“Hard-working individual business owners are also already fighting an uphill battle with supply chain disruption, increasing utility bills and surging fuel prices. Action must therefore be taken on other challenges that small businesses face.
“Many members are reporting mushrooming energy bills multiplying by four or five times in recent months. Small business energy customers don’t benefit from consumer protections, nor do they have the negotiating power of their larger counterparts, making utility bill inflation especially tricky to handle. Struggling micro-businesses should be offered help on energy costs to match that being given to households.
“The Government should also be looking at other measures to ease soaring costs of doing business, such as a reversal of the hike in National Insurance, cutting VAT and fuel duty, and introducing new reliefs on business rates.
“The cost of living crisis can’t be solved without at the same time solving the cost of doing business crisis; we must bring down inflation, but the negative aspects of today’s hike make the case stronger for small business support as thousands upon thousands of small firms will have less financial room to manoeuvre.”
A new primary school could be built to meet the needs of a Leicestershire town’s growing population.
The school, on land off Normandy Way in Hinckley, would accommodate up to 210 pupils and will have seven classrooms.
It would also have a specialist teaching room for practical subjects such as cookery, as well as a hall, library, garden, and wildlife area.
Leicestershire County Council has submitted a planning application for the school which will be considered by the authority’s Development Control and Regulatory Board on Thursday August 11.
If the board approves the plan, contractors will build the school to the county council’s specifications with most of the expected £6 million cost being provided by developers Bloor Homes.
The new school would be part of the developer’s section 106 planning obligations arising from the new housing developments in the area.
In line with the county council’s green agenda, the school would also include solar panels and air source heat pumps.
Construction work is expected to begin on site in September this year, with an expected opening date of September 2023.
Councillor Deborah Taylor, cabinet member for children and families, said: “Providing new schools places across the county is a top priority for us in order to meet the expected demand, particularly in the Hinckley area as the town expands.
“This school will be modern and environmentally friendly, and I look forward to seeing further updates as construction gets underway.”
Once complete, ownership of the school will be transferred to Leicestershire County Council. The school will be run as an academy, by a trust yet to be determined.
Housebuilder William Davis Homes is working with planners to help meet the demand for new housing in part of Leicestershire, submitting proposals for more than 120 homes.
The plans involve a site off Snells Nook Lane in Nanpantan, which has already been allocated for development in the Charnwood Local Plan.
The area was previously earmarked for development as part of the Loughborough University Science and Enterprise Park, but is allocated for housing under the new, draft local plan.
Before the application was submitted, a consultation exercise involving the wider community and stakeholders was conducted. Further consultation will now be carried out by Charnwood Borough Council, following the submission of the proposals.
In addition to 128 new homes, the proposals will create publicly-accessible open space equivalent to almost 4.5 football pitches and a new children’s play area.
Along with improved footpaths along the former Charnwood Forest canal, these measures will help to address the identified shortfall of open space in Nanpantan – a key concern raised in the public consultation.
William Davis Homes is working with Charnwood Borough Council to provide the right types of houses to meet demand. The plans include both first-time buyer and larger family homes.
In line with local authority policy, almost a third of the proposed new homes will be made available to local people for rent, sold under an equity share scheme or made available for sale at a permanent 30% discount, under the Government’s First Homes initiative.
In drawing up the proposals, William Davis Homes has commissioned extensive traffic modelling, which has shown there would not be a severe impact on the surrounding highway network.
The site’s access point, along with highways and footpath improvements, are aimed at encouraging sustainable transport options.
A comprehensive landscape scheme will support sustainability. The plans will maintain ecologically valuable habitats, including the Ancient Woodland adjacent to the site, as well as delivering a biodiversity net gain.
In addition, the new homes will include electric car charging points and solar panels as standard and deliver a carbon reduction compared with current new build properties.
William Davis Homes has also pledged to work with the local council to ensure that any impact on health and education services is mitigated. Where necessary, there would be financial contributions to help maintain and improve local infrastructure.
As a Charnwood-based business, William Davis Homes is already a major local employer with an established local supply chain.
Property developer Taggart Homes has delivered a 45 home development in Nottinghamshire.
All homes on the site are now build complete, with just the ex-view home being available to buy. Many residents are now enjoying their new homes and settling into life in the village of Annesley.
The development is located on Derby Road, allowing for easy transport routes to Hucknall, Nottingham and Mansfield.
With the majority of the properties falling within the Help to Buy scheme, the homes attracted a high level of interest from first time buyers, families and professional couples. The development is situated on the doorstep to amenities including primary schools, a supermarket, a library, sports fields and a short distance from Newstead Abbey.
Forest Park showcases seven different property types including semi-detached and detached homes.
Director of Taggart Homes, Nick Taggart, said: “We are very excited to see the completion of Forest Park and delighted to welcome residents into their new homes. The flurry of interest we’ve had on these properties has been remarkable as the homes began selling very early in the build and have continued to sell exceptionally well throughout.
“At Taggart, we pride ourselves on attention to detail, especially with high-specification fixtures and fittings that homebuyers can customise to their taste, as we know this plays a vital part in the home buying process.
“The distinctive homes were built on a vacant, derelict site which was former working men’s club and we have been committed to help revitalise the community and its future, as a thriving location popular with families and commuters. Whilst completing the build, we were delighted to be able to help the local primary school, donating much needed funds to help the school renovate their dining hall.”
Taggart Homes has worked alongside Core Architects and Ashfield District Council to deliver this scheme.
With only two weeks remaining until nominations close for the East Midlands Bricks Awards 2022, ensure to submit your entries for the annual celebration of the property and construction industry by 19 August!
Scheduled to take place on Thursday 15 September, the Bricks shine a light on the outstanding work of those shaping the landscape of our region, recognising development projects and people in commercial and public building across the East Midlands – from offices, industrial and residential, through to community projects such as leisure schemes and schools. We also highlight the work of architects, agencies and those behind large schemes.
The glittering awards ceremony revealing winners, at the famous Trent Bridge Cricket Ground, will also offer the perfect chance to forge new contacts with property and construction professionals from across the region. The event will additionally feature John Forkin MBE DL, Managing Director at award-winning investment promotion agency Marketing Derby, as keynote speaker.
Nominations for the awards are open until Friday 19 August. To submit a business or development for the East Midlands Bricks Awards 2022, please click on a category link below or visit this page.
Overall winner (this award cannot be entered, the winner will be selected from those nominated)
The Overall Winner of the East Midlands Bricks Awards 2022 will also be awarded a year of marketing/publicity worth £20,000.Find out who last year’s winners were here.
Book your tickets now
Tickets can now be booked for the awards event – click here to secure yours.
The special awards evening and networking event will be held on 15 September 2022 in the Derek Randall Suite at the Trent Bridge County Cricket Club from 4:30pm – 7:30pm.
Connect with local decision makers over canapés and complimentary drinks while applauding the exceptional companies and projects in our region.
The event will also welcome award-winning mind reader, magician, and professional mentalist Looch, who will bewilder and astonish guests during the evening’s networking.
Dress code is standard business attire.
Newark and Sherwood District Council has submitted its plans to government in an effort to secure nearly £20million in funding for Ollerton and Clipstone.
If successful the District Council will develop the disused site at Clipstone Holdings into high quality space for businesses, make huge improvements to Ollerton Town Centre, create new sports facilities in Clipstone and improve transport links to the area.
The District Council has applied for a grant through round two of the UK government’s Levelling Up Fund (LUF). If the bid is successful, proposals include up to 60 new homes, the creation of new retail, food and beverage shops, new office workspaces and the relocation of the Library in Ollerton Town Centre. The proposal would bring key public services, for example the Town Council and the Library, together in a single, modern and accessible facility, all under one roof.
The funding would also be used to create space for businesses to use as well as sports and leisure facilities on Mansfield Road, Clipstone. The investment here would create a site offering training to develop new skills while also creating employment opportunities as well as a modern health and wellbeing provision in the heart of the community.
The project would see the demolition of existing derelict light industrial units on the Clipstone Holdings site and the redevelopment of 30 brand new units. In addition, new modern mixed-use sports facilities would also be developed, including a 3G pitch, one grass pitch, one stadium pitch, a cricket pitch and multi-use courts. These would be accompanied by two pavilions, a main sports hall and 505 parking spaces. A new road layout and cycling connections would also be developed. This could then act as a catalyst for the development of the coal mining headstock.
Councillor David Lloyd, leader of Newark and Sherwood District Council, said: “This is a really exciting opportunity for Ollerton and Clipstone and I’m delighted to see our proposals submitted to Government. These proposals will help to improve employment opportunities in Ollerton and Clipstone and will address some of our key challenges that are set out in our Local Plan and have also been identified through resident feedback.”
Before preparing its proposals, the District Council undertook a survey with residents and other key local people, including local businesses. The survey showed strong support for town centre regeneration, employment creation, better shops, improved retail and leisure offering, upskilling of the workforce, and measures to enhance wellbeing. Ollerton and Clipstone were identified by respondents as places that are most in need of investment in the district.
Councillor Lloyd continued: “I would like to thank everyone that contributed to the consultation and had their say on what matters most to them for future development of their local community; I am confident that our proposals to government reflect your aspirations.
“New office and workshop spaces in Ollerton and Clipstone will provide modern facilities for local businesses and attract businesses looking for high-quality and energy efficient space, which is great news for those who live and work in the district.
“It is also our priority to create high quality employment opportunities, offer opportunities to increase skills and improve health and wellbeing by providing the right public services and support at the right place. I hope that our bid, like the one for Newark, is successful and I look forward to hopefully sharing positive news with you in the future.”
In July 2021 Newark and Sherwood District Council successfully submitted a bid for Newark during the first round of the Levelling Up Fund for the Southern Link Road. This built on the District Council’s positive partnership with the Newark Town Board, securing £25million in March 2021 to begin work on transformative projects to regenerate Newark town centre, boost business and improve infrastructure through the Newark Town Fund.
The Levelling Up Fund is designed to invest in infrastructure that improves everyday life across the UK. The £4.8 billion fund will support town centre and high street regeneration, local transport projects, and cultural and heritage assets.
With workers no longer chained to their desks and workplaces adapting to a more flexible work environment, specialists in commercial interior design and refurbishment, APSS look at simple, low maintenance ways to improve your office environment.
The last few years have made the office more of a variable space. With the current workplace revolution, how do you keep things low maintenance and simple?
There’s a lot to be said for minimalist design and keeping things simple. The straightforward clean approach to office interiors is one that’s been followed since the 1990s. The plain, clinical whites of that decade have gone but the idea around keeping things tidy still prevails.
As hybrid working and hotdesking becomes more popular, there has been more of an emphasis on shared workspaces. This of course means workstations need to be kept clean, functional and in good working order.
The clutter that comes with the traditional desk setup is therefore gone. Personal items tend to be stowed in drawers and as a result, offices can feel less busy and cluttered which can improve productivity.
Keeping it clean
Cleanliness is a hugely important aspect of office maintenance and due to COVID this is even more of a concern. Germs and bacteria live on surfaces and office furniture for longer than you imagine so keeping surfaces clean is the best way to combat this. Generally, desks, kitchens and bathrooms have safer surfaces.
When considering initial concepts and surfaces in particular, it’s best to pick sealed surfaces, avoiding material that might hold onto moisture or absorb potentially harmful bacteria or germs. Avoid wood with open grains for example or rough, uneven stone surfaces, even if they look superior.
Consider automation
You may already be using some degree of automation at home. Your robot vacuum or self-cleaning oven saves you time and money, so why not introduce some degree of automation in the office?
Pairing tech with design choices can also work wonders when it comes to tackling office interior solutions. There are a few solutions available if you need to keep floors tidy at all times and experience heavy footfall. Setting off vacuums and choosing a low-maintenance carpet or floor surface can make a huge difference.
Selecting carpet that doesn’t require much upkeep can often mean a sacrifice in aesthetics. However, you can seek out options that offer both style and ease of cleaning.
Ventilation and heating can also be something you can automate and manage flawlessly. Automatic vents and heating sensors can ensure a comfortable temperature is achieved depending on the season, the outside temperature and how many people are in the building.
Automatic windows and heating vents can also make things easier and can save incredible amounts of money.
Lighting is something that can be automated easily, every area of an office can be on movement detection and for areas where people will be working for extended periods, this can also be overwritten. This saves on both lighting bills and light pollution, which is becoming more of an issue in densely populated cities and towns.
A simple detection system can be installed at the point of refurbishment or retrofitted to provide a perfect way to keep an office’s lighting running efficiently.
Bring nature inside
Having office plants doesn’t mean you have to sacrifice time and valuable resources on keeping them in order. There’s a whole host of options when it comes to low-maintenance plants and having them in the office can create a calm, serene environment. It can also promote a more creative office. Biophilic design is something that is having a profound influence on many interiors, bringing the calming parts of nature inside.
Remember, there are many health benefits to having plants in an office, including as humidity boosters, air purifiers and stress reducers in general.
Look into plants that need minimal care such as cacti, succulents and other plants that thrive on low water levels and can survive both direct and indirect light with ease. Options can include bushy ferns, spider plants, larger leafy varieties and much more.
Avoiding plants that need pruning, daily watering or flowering varieties can mean you can take advantage of their best properties without worrying about looking after them too much.
Facilities with no fuss
As well as environmentally friendly options there’s a whole lot more you can do with hygiene and convenience facilities in a bespoke office design.
For example, rainwater harvesting to flush toilets, water-saving taps, and even waterless urinals can all feature in an office design to ensure there’s no waste and cleaning is much more of a simple task. Automatic flushes also mean cleanliness and hygiene are also promoted effortlessly.
In kitchens, instant boiling water taps and smarter surface choices can all make a difference too. There are many options available here for what are high-traffic areas.
Feeling inspired to look into low-maintenance office design? APSS offer a full design and build services and can help talk you through what potential your office has for your business. Visit the website for more details.
Derby-based Acres Engineering has received the highest accolade from the Ministry of Defence to recognise their support for the Armed Forces Community.
The family business, which is located on Castle Lane Industrial Estate, Melbourne has received Gold Award as part of the Armed Forces Covenant.
This acknowledges employers who provided exceptional support to the armed forces community and Defence by going above and beyond their Armed Forces Covenant pledges.
Earlier this year, Bruce Spencer, MOD’s engagement director, visited the Acres Engineering workshop to review their progress on their application for Gold status in April. Yesterday Major Steve Goodwin, visited site to officially recognise them, when Acres Engineering publicly re-signed the Armed Forces Covenant.
Luke Parker, Managing Director at Acres Engineering, said: “Acres Engineering proudly supports the Armed Forces Covenant and pledges to support the Defence community within the business, ensuring those who have served in the armed forces are treated fairly.
“We always wanted to exceed the agreement and progress our engagement to the Gold Award and we are proud that our work here has been recognised by the MOD. We enthusiastically endorse the hiring of reservists and veterans at Acres Engineering and we stand by those who have served our nation.”
Major Goodwin said: “Acres Engineering Ltd is a great example of how employers are putting the Armed Forces Covenant into action to support the wider Armed Forces community. As Employer Recognition Scheme (ERS) Gold award holders, they have raised the bar for Derbyshire employer support and are well placed to share best practice and inspire other employers to follow their lead and experience the benefits of Partnering with Defence.”
EV Technology Group has entered into a definitive agreement to acquire Northamptonshire-headquartered manufacturer, Fablink Group in transaction valued at up to £38.8m.
Since it was founded over 14 years ago, Fablink has built up a market-leading position as a Tier 1 supplier to the automotive, transport and off-highway sectors, counting leading global OEMs in its customer base.
The acquisition includes all seven Fablink manufacturing sites across the UK, and Streamline Automotive, a new division of Fablink Group that provides specialist low and medium volume electric vehicle manufacturers with turnkey clean build vehicle assembly capabilities.
Richard Westley, CEO and founder of Fablink Group, will remain in his current position and will also join the EV Technology Group executive team as chief operating officer upon completion of the acquisition. Fablink will also retain its current leadership team, facilities and over 750 employees.
Richard Westley, CEO and founder Fablink Group, said: “There’s no doubt that EV Technology Group’s acquisition of Fablink is a fantastic fit. This acquisition not only presents a superb blend of resource and capabilities, aligned to underpin EV Technology Group’s significant growth plans, but also gives Fablink Group a platform for significant future investment in our people, facilities & technology.
“The acquisition allows us to accelerate the delivery of our strategies in support of our existing global OEM customers, as we continue on our mission of achieving operational excellence across our manufacturing sites, and also provides a platform to further develop the business as we look to support EV Technology Group’s own brands. This is a tremendously exciting step for Fablink and we are looking forward to an even brighter future as part of a larger group.”
Wouter Witvoet, CEO of EV Technology Group, stated: “This acquisition is of huge strategic importance to the EV Technology Group. Having access to Fablink’s 750 world-class electric vehicle manufacturing and engineering experts in-house makes us more competitive, efficient, and agile for Fablink’s existing customers and our own future projects.
“On a personal note, I am also looking forward to working closely with Fablink’s founder and CEO Richard Westley who has built a remarkable world-leading business and will also be joining me at EV Technology Group to help steer the future success and growth of the entire group.”
Leicestershire-based Ibstock has extended its modular construction technology portfolio through the acquisition of a 75% stake in Generix Facades Limited (Generix), a UK supplier of non-combustible façade systems.
The acquisition represents a further strategic step in broadening the range of façade systems offered by Ibstock Futures, as the construction market seeks lower carbon, non-combustible forms of cladding for use in the mid-high rise and modular market segments.
Generix, which was formed in 2013 in Bloxwich in the West Midlands, produces three types of façade systems: Generix-Lite (natural stone panels), Infinity (ceramic panels), and Genbrix (mechanically fixed brick-slip cladding).
Co-founder and Managing Director, John Nolan, will remain in his role and retain the minority shareholding in Generix.
Jeremie Rombaut, Managing Director of Ibstock Futures, said: “Generix represents an important strategic step for Ibstock Futures, with a new systems offering into the fast-growing sectors of the UK facades market.
“Through this acquisition, we have a great opportunity to expand our customer offering in new market segments. I welcome John and his team to Ibstock and look forward to scaling the business together in the years to come.”
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