Midlands businesses hit with highest level of late payments
Latest monthly research from the local branch of national insolvency and restructuring trade body R3 reveals that the Midlands is the UK region with the highest number of companies with late payments outside Greater London.
R3’s figures for September, which are based on an analysis of data from business intelligence provider Creditsafe, show that 78,601 Midlands companies had invoices on their books last month which were overdue for payment.
The R3 research also indicates that local entrepreneurs are becoming more cautious, with the number of East Midlands start-up companies falling to 2030 in September from 2279 in August. In the West Midlands, the number of start-ups in September decreased to 5032 from August’s figure of 5726.
R3 Midlands Chair Eddie Williams, a partner at PwC in the East Midlands, said: “This research indicates the negative impact of the current economic climate on local businesses.
“Trading conditions are proving to be extremely challenging, not least because we are heading into the winter with rising supply and energy costs on top of a market which is still recovering from the effects of the pandemic.
“For those business owners with significant concerns about their situation, the sooner professional advice is sought, the more opportunities may be available for finding the best possible outcome. Many R3 members offer a free initial consultation to those who are looking for such help and want to explore their options.”
The merger of two leading accountancy practices is a welcome boost to Colchester and the surrounding area
Streets Chartered Accountants, a top 40 UK accountancy practice, is delighted to announce the founding of Streets Whittles Chartered Accountants.
The announcement follows the merger of the Colchester and Mersea island practice of Whittles with Streets Chartered Accountants, a mid-tier multi regional practice.
When asked about the merger, Rachel Skells the lead partner for Whittles, said: “This merger is a great match, both in terms of client focus and cultural fit and we are very much looking forward to working with, and getting to know, our new colleagues.
“Myself and my fellow partners made the decision to merge the firm with Streets because we believe it is in the best interests for all concerned. In terms of size, a three-partner firm has the benefits of a boutique firm but also a number of underlying challenges. Now that Whittles is part of a wider thriving practice, we can confidently promise greater continuity of service to our clients and greatly improved career prospects for our team.
“We also believe our clients may potentially benefit in that the combined firm will also be able to offer a wider range of services including areas of specialist corporate and private client tax planning, international advice and personal financial planning.”
Commenting on the merger and what it means to Streets, the firm’s Managing Partner, Paul Tutin, said: “With Streets’ existing offices across the East of England, including Cambridge and Newmarket and further south in Stevenage and London, we have been looking to establish a presence in Essex.
“Whilst we considered opening a new office in the county, we really wanted to join up with another liked minded firm. We were therefore delighted to enter into a conversation with the Whittles partners, Rachel Skells, Michael Greene and Dan Insley. Very early on in our discussion it was clear that we shared by the same vision and values for the profession and for supporting our clients. This certainly made the process of merging much easier, even enjoyable. A great start to our new future together.”
“By coming together both Whittles and ourselves will be able to capitalise on our respective expertise and will be better placed to grow and develop to support the needs of both existing and future clients. We also feel that the merger brings exciting opportunities for our team members and for new recruits who can join a progressive and expanding practice. With Streets Whittles offices in Colchester and Mersea, we now have 19 offices from Manchester in the north to Brighton in the south.
“Whilst many large firms have moved to more regional models, Streets remains committed to and focused on looking after clients that live, work and operate businesses in the local area. This approach is very much at the heart of our strategic focus for growth, which is likely to include further mergers of likeminded firms. Our aspiration is to become a top 20 UK practice by 2030.”
550 Nottingham City Council assets could come under hammer
Nottingham City Council is looking to review 550 of its assets by the end of next year with a view to selling them and raising much needed funds to pay off its debts.
The council headed off intervention by Government commissioners when it managed to reduce its 1.2 billion debt by £200 m although an Improvement and Assurance Board (IAB) now oversees council improvements and has been given a targeted list of requirements to fulfil.
Cllr David Mellen, City Council Leader, believes that selling property and land no longer required by the council is just “one of the ways” it could fill its coffers, stating that such an approach is necessary “at a time when our Government grant is drastically reduced and we are unable to borrow due to the involvement of the Improvement and Assurance Board.”
The independent board has been working with the council to help develop and implement a medium-term financial plan. It became even more closely involved in September after the Government decided against appointing commissioners to take over certain decision-making functions at the council.
The updated financial plan is to be discussed at a full city council meeting on Monday (October 31) along with documents revealing the cost of the IAB’s findings and continued oversights by the council.
Luxury Derbyshire housebuilder announces new eco development
Woodall Homes has announced a gated development of nine luxury homes in Derbyshire.
Nine two and three-bedroom detached bungalows will be available at the development on Newbold Road, boasting fully-fitted kitchens, luxury bathroom suites, landscaped gardens and all powered by Wondrwall, a world-leading intelligent home automation and heating system coupled with renewable energy generating solar panels and battery storage.
As well as allowing users to control all aspects of the homes heating, lighting and security through the Wondrwall app, this complete home energy management system also utilises artificial intelligence and self-learning technology to adapt to the occupant’s daily routine and preferences. Automatically minimising energy bills and the environmental impact of the home by reducing demand and only using the energy that is required at its lowest possible cost and carbon intensity.
David Wood, Managing Director at Woodall Homes, said: “We are delighted to announce our new development, The Shrubberies, complete with Wondrwall technology in each home.
“Sustainability should be at the forefront of the build process for every developer, and we are proud to deliver an eco-development of this standard.”
Architects reveal designs for firm’s new HQ
Matthew Montague Architects has submitted plans for the refurbishment of the headquarters of a growing Derbyshire IT firm.
Proposals have been lodged with Chesterfield Borough Council for a comprehensive revamp of Old Birdholme House, in Derby Road, Chesterfield.
The building is the HQ of CCS Media, a technology and supplies reseller, which has been based in Chesterfield since it was established almost 40 years ago.
The company, which delivers IT solutions and services to organisations across the UK, is understood to be the largest independent employer in Chesterfield.
Matthew Montague Architects was instructed by the firm to prepare a detailed scheme for the sensitive alteration and refurbishment of the Grade II-listed Old Birdholme House, parts of which date back to the late 17th century.
According to Matthew Montague Architects, heritage reports state the building was originally a dwelling and later a mansion house.
It said there is still evidence of this as the present-day offices are “quite cellular in nature, with various small spaces, rooms and offices”.
The firm said its proposals seek to “strike a balance between functionality and form, creative design and fulfilling the needs of the business while retaining original architectural details and finishes”.
Matthew Montague said: “The time, costs and complexity involved in altering and upgrading a Grade II-listed building should not be underestimated.
“You can’t cut corners with listed buildings. This project will be a significant investment for CCS Media.”
A decision on the planning application is expected early next year.
Morley Hayes backs air ambulance charity
Hotel, restaurant and golf complex Morley Hayes has raised cash for a local air ambulance charity from a series of fundraising events.
The complex, in Main Road, Morley, adopted the Derbyshire, Leicestershire, and Rutland Air Ambulance Service as its official charity for 2021.
The pandemic meant it was unable to host as many fundraising events as normal.
However, over the past 12 months, Morley Hayes has since raised £1,500 for the charity from three separate fundraisers.
Andrew Allsop, managing director of Morley Hayes, said: “Because of the pandemic, fundraising over the last 12 months has been a challenge, but we’re pleased some of our events were able to go ahead and we have been able to raise £1,500 for this vital local charity.
“The Air Ambulance Service provides life-saving support to people in need of urgent medical care and it’s important they continue to receive donations like this, so they can continue the vital work they do.”
Midlands businesses hit with late payments high
Latest monthly research from the local branch of national insolvency and restructuring trade body R3 reveals that the Midlands is the UK region with the highest number of companies with late payments outside Greater London.
R3’s figures for September, which are based on an analysis of data from business intelligence provider Creditsafe, show that 78,601 Midlands companies had invoices on their books last month which were overdue for payment.
The R3 research also indicates that local entrepreneurs are becoming more cautious, with the number of East Midlands start-up companies falling to 2030 in September from 2279 in August. In the West Midlands, the number of start-ups in September decreased to 5032 from August’s figure of 5726.
R3 Midlands Chair Eddie Williams, a partner at PwC in the East Midlands, said: “This research indicates the negative impact of the current economic climate on local businesses.
“Trading conditions are proving to be extremely challenging, not least because we are heading into the winter with rising supply and energy costs on top of a market which is still recovering from the effects of the pandemic.
“For those business owners with significant concerns about their situation, the sooner professional advice is sought, the more opportunities may be available for finding the best possible outcome. Many R3 members offer a free initial consultation to those who are looking for such help and want to explore their options.”
University to reopen winter shelter for Nottingham’s homeless community
The University of Nottingham will offer support to Nottingham’s homeless community again this winter by reopening its shelter on University Park.
Partnering with Nottingham-based homelessness charity Emmanuel House Support Centre, the charity will offer short-term emergency accommodation for up to 27 people per night, from Monday 17th October until April 2023.
24-hour support will also be provided in an unused university building, ensuring there are fewer people sleeping on the streets of Nottingham.
Denis Tully, CEO at Emmanuel House, said: “As we enter our second season working with the university, we are delighted to be benefitting from their generous offer of accommodation at a cost-neutral rate.
Denis Tully, CEO at Emmanuel House said:”The Winter Shelter will provide what we anticipate as much-needed respite accommodation for people who would otherwise rough sleep during the coldest and wettest months of the year.
“Staff along with volunteers have been working hard to get everything in place in the venue on the University of Nottingham campus. The Winter Shelter is not an end in itself, but a means of supporting people into more permanent accommodation solutions.”
Ashley Roberts, Head of Campus Services at the University of Nottingham, is leading the project. He said: “It’s fantastic to be able to work with Emmanuel House again this year and put an otherwise empty property to good use.
“Last winter it was great to see the university community coming together to support the charity, with lots of donations and volunteers offering their time to help in the shelter. I’m sure our staff and students will get behind Emmanuel House once again this winter and make it a successful partnership.”
The university is able to offer accommodation to Emmanuel House at a cost-neutral rate and will be working with the charity to support people in searching for jobs, finding permanent accommodation and accessing other services.
University of Nottingham Students’ Union Community Officer Daisy Forster said: “It’s amazing to see the university helping the community in such an active way, especially when it is such an important time to give back.
Daisy Forster University of Nottingham Students union said: “Students are a remarkable asset to the city, and I really hope to get many of them involved with volunteering at the shelter.”
Last year’s Winter Shelter, which was open between November 2021 and March 2022, provided 2067 nights’ protection for 72 people. 37 of these people were supported into longer-term secure accommodation, equaling an average of 3.5 people a week.
East Mids law firm sponsors next gen of sporting super stars
Law firm Nelsons has sponsored the shirts for a successful childrens’ multi-sports club based in Nottinghamshire and Leicestershire, where children are encouraged to join in, try something new, and potentially become the region’s next sporting super star.
Run by Sam Clements, Clements Multisports is an after school and holiday club provision for children of all ages. It includes popular sports such as football, tennis, and gymnastics as well as activities they may not have the chance to play otherwise, such as volleyball, dodgeball, and archery, potentially sparking an interest that they will carry with them for life.
Sam Clements said: “I’d like to say a massive thank you to Nelsons for sponsoring the shirts. It means the children can enjoy their activities in a great uniform that represents them as a team which not only means a lot to them, but to me also.
“In the year since I started running the club, I’ve seen the kids try new things, grow in confidence, and most importantly have fun. The goal is to give more youngsters an outlet to potentially find a new passion, and it helps them get outside too.”
Sam gained experience in running a multisport club by working for a similar organisation before starting his own business. He now has clubs at eight different schools as well as holding regular holiday camps, exercise classes at local care homes, and foundation classes at nurseries. He is also accredited by The Princes’ Trust.
Alice Rees, partner in the corporate team at Nelsons, said: “The club was looking for a local sponsor to help fund the shirts, which help foster a sense of pride and teamwork among the children who take part.
Supporting our local communities is an important part of Nelsons’ culture and clubs such as Sam’s do so much for the next generation. It is great to be able to support them and the kids look brilliant in the tops.”
University link-up will give skills and jobs boost to students
A new partnership between Redrow and Nottingham Trent University will put students in the front row for industry placements and future employment.
It will also create opportunities for special lectures, site visits and financial support.
In a three-year deal with the university’s School of Architecture, Design and Built Environment, we have committed to a range of opportunities including:
· Special bursaries to support disadvantaged students taking on unpaid work experience and to help with cost of the job interview process.
· Site visits and access to materials and resources
· Provision of guest lecturers and inspirational speakers on subjects including construction, master planning and health & safety.
· The chance for students to gain first-hand exposure and valuable experience on live projects.
· In-curriculum projects within the university’s BSc (Hons) construction management degree, including access to our materials and real-world challenges.
· Two graduate internships with the homebuilder guaranteed per annum.
· Priority access to our graduate vacancies and industrial sandwich placement opportunities for third year students.
· Various Redrow-sponsored awards to be presented during the annual award ceremonies
Announcing the partnership, our director of human resources Karen Jones said:“Both Redrow and Nottingham Trent university share a culture of excellence coupled with a strong commitment to supporting social mobility, so finalising this agreement has been a real pleasure.
“Our group chief executive Matthew Pratt studied at Nottingham Trent University, so the partnership also cements a long-standing relationship. It will bring very real and long-lasting benefits to students, enriching their education and providing excellent opportunities for social and economic progression within their early careers.”
We have been creating high quality homes and thriving communities across England and Wales for almost 50 years and we are particularly proud of our reputation for inspiring the next generation to build. Around 15% of our current workforce are trainees, including those on various graduate training programmes, undergraduate placements, apprenticeships and other vocational training courses.
Adding Nottingham Trent University to our list of illustrious academic partners is a natural progression for us. With 3,000 students within the School of Architecture, Design and Built Environment, the Nottingham-based university has a worldwide reputation for excellence and is a provider of industry-accredited learning. Research shows that 90% of NTU architecture, building and planning graduates who enter employment are in a high-skilled role within 15 months of completing their studies.
Indeed, quite a few of those former students are already employed by us, including George Brown, a technical coordinator in London. George completed a degree in construction management at NTU, including a sandwich year spent in our technical department. He joined us after graduating in July 2021 and is still with us three years on.
“I’ve been very lucky to experience both of these organisations. Nottingham Trent is a great university, it offers practical courses which suited my skills, we were supported from start to finish and we had the opportunity to get vast amounts of industry experience alongside our studies.
“The placement year with Redrow London gave me valuable real-world experience, which assisted me in completing my degree and a wealth of contacts, which ended up helping me complete my dissertation. Now in my full-time Redrow role I work on a wide range of different projects, have seen all aspects of construction and am still learning new things every day.
“I’m really excited to hear about the new partnership. It will give NTU students a head-start in a very tough and competitive environment.”
Another Nottingham Trent construction management graduate is Obi Ebizie, now an assistant site manager within our Lancashire division after successfully completing our graduate training programme in 2021.
Obi welcomed the news, saying: “This partnership will be great for both sides. The support from Redrow for all of its employees, graduates and placements is unmatched, so students will be exposed to a wide range of skills, knowledge, experience and support. At the same time, the university’s reputation for quality teaching and a technical bias means that Redrow will get first pick of some exceptional talent.”
Andrew Knight, Executive Dean of Architecture and the Built Environment at Nottingham Trent University, said: “Working with industry is critical to the health of our courses and the graduate opportunities available. I’m delighted that Redrow will be partnering with us to create a talent pipeline for its forward-thinking organisation.”
Nottingham Trent University was the first higher education establishment to sign the social mobility pledge and has recently been awarded winner of ‘Outstanding Support for Students’ at the Times Higher Education Awards.
The new partnership between us and Nottingham Trent University will commence at the start of the 2022/23 academic year.
