Rising costs and falling revenues causing worst small business pessimism outside lockdowns, new figures reveal

Tess Egginton
-
0
Rising costs and falling revenues causing worst small business pessimism outside lockdowns, new figures reveal
Cost pressures, falling revenues and a growing reliance on debt to prop up cashflows are among the gloomy findings of the latest Small Business Index (SBI) from the Federation of Small Businesses (FSB). The quarterly temperature-taking survey reveals the greatest level of pessimism among small business owners outside of lockdowns, with a net confidence score of -35.9 in Q3 2022, down 11.2 points compared to the previous quarter. Almost half (43%) reported falling revenues over the three months to October, compared to less than a third (32%) reporting an increase. Over the coming three months, four in ten (41%) expect revenues to decrease. Rising costs continued to affect the vast majority of small firms (89%), with nearly two in five (38%) seeing costs increase by more than 10%. The primary cost factors are utilities (60% of respondents), fuel (57%), inputs (48%), and labour (43%). More than two thirds (68%) of small business employers have increased wages over the last year, with the average wage increase 4.5%. For the third consecutive quarter there has been a rise in the number applying for finance (13% in Q3, compared to 9% in Q1). Of those, nearly half (46%) have turned to finance to help manage cashflow, up from 35% in Q2. Only a quarter (25%) applied for finance to expand their business, down from 29% the previous quarter. One in five (20%) finance applicants failed to find an offer with an interest rate below 11%, while the majority of successful applicants (57%) were offered rates between five and 10%. FSB development manager, Natalie Gasson-McKinley, said: “Small business entrepreneurs are, by their nature, an optimistic, dynamic and innovative bunch, which is why it is all the more stark to see this plunge in confidence. They want to be driving growth and economic recovery, but the headwinds against them right now are gale-force. “Recent political and economic turmoil hasn’t helped, which is why it is vital the Government focuses on stability, including delivering on its promises to help with energy bills for small firms and to reverse the hike in National Insurance. That money must be in the pockets of small firms by next month, no ifs, no buts, followed by clarity on what will happen after the initial six-month period. “While the new Chancellor has focused in his first days on reassuring markets to bring economic stability, he will need to turn again later to pro-growth measures, including revisiting issues such as IR35 changes and the decision to raise the equivalent of National Insurance for hard-working entrepreneurs who are paid via dividends. Raising taxes now will not generate growth, and we risk seeing high taxes with low or no growth for the foreseeable future. “Taking more small firms out of business rates, which they’re clobbered with before they’ve earned a penny, would be a positive, pro-growth step. In time, there should also be a review of the level at which the higher rate of Corporation Tax kicks in, reducing a barrier for ambitious smaller companies. “The Government’s own new annual figures show that two years of Covid has left the small business population smaller by half a million small firms and the self-employed. This gap of missing entrepreneurs, alongside those that have left the jobs market, should be the focus of medium-term growth measures, to help small businesses start up, grow, and recruit, after getting through the toughest of winters.” FSB is also urging ministers to tackle a systemic problem in the economy on late payments, which would not require expenditure at a time of focus on public finances. More than half (54%) of small businesses had their cashflow woes in Q3 compounded by the late payment of invoices, often by bigger business customers. More than a quarter (27%) said late payments are becoming an increasing problem, up from 22% in Q2. Business-to-business (B2B) firms were the biggest victims, with the worst affected including those in the manufacturing sector (67%); professional, scientific and technical activities (65%); and construction (64%). Natalie McKinley added: “The anti-growth late payment culture is a block on investment and economic recovery. If the UK Government is serious about going for growth, addressing this pernicious problem should be high on the urgent to-do list. “Audit committees of big corporates must be made accountable for payment practices. Meanwhile, ministers must double-down on blacklisting big businesses which treat their smaller suppliers and contractors badly from landing lucrative taxpayer-funded contracts. This is a way of promoting growth without a price tag for the Exchequer. “Giving more public sector contracts to smaller businesses should also be prioritised, at a time when there is an acute need to get value-for-money for taxpayers. Widening competition in public procurement by making more contracts suitable for small firms would save taxpayers’ money while driving up standards. It’s a no-brainer.”

Local businesses raise over £8,000 for Vicky McClure’s Our Dementia Choir

Tess Egginton
-
0
Local businesses raise over £8,000 for Vicky McClure’s Our Dementia Choir

Members of the East Midlands business community came together at the annual CAPs (construction and property) charity golf day at Springwater Golf Club in Calverton, raising £8,500 for Our Dementia Choir.

88 players from local businesses were in attendance, across 22 teams, who played the course as well as testing their abilities in additional activities including a putting competition and a beat the pro game.

Monies were raised for the charity through ticket sales, hospitality around the course and a raffle.

Our Dementia Choir was formed by actress Vicky McClure in 2019, as part of a BBC documentary, as she set out on a journey to discover the true extent of music’s power of combatting dementia – following the death of her grandmother in 2015, who suffered with the condition.

Vicky formed the choir, which is made up of those living with dementia, in her hometown of Nottingham and supports them through singing and musical activities to provide a calm, engaging and friendly space for the community.

Businesses from across the construction and property sector were in attendance, with Blueprint Interiors, Jennie Holland PR, Influence Landscape Planning & Design, 200 Degrees Coffee, Pygott and Crone, Morgan Sindall, Hexa Consulting and GT3 Architects, who sponsored the event.

Coastal Distillery, a Lincolnshire-based business that makes a range of artisan spirits, donated drinks for the halfway house and 200 Degrees supplied coffee and cakes on the course.

At the end of the tournament, Our Dementia Choir was introduced to the players by Vicky McClure and charity manager, Karen Bonser and they performed four songs.

Prizes were given to the winners of both the individual and team competitions, which included rounds of golf at Springwater Golf club, gift vouchers for the onsite golf shop, champagne and PING golfing attire.

CAPs, which was founded in 2017 by John Tansur, client services director at Knights, and David Ford, director at Gleeds, has so far raised a total of £35,000 through a number of fundraising events, with further plans to host a black-tie dinner “with a twist,” a school sports style event and a racing Ladies Day in 2023.

David Ford said: “We’re really pleased so many from the construction and property sector came along to play golf, network, and have fun raising funds for such an incredible charity. John and I are very grateful for everyone’s generosity in raising such a huge amount of money for Our Dementia Choir and to the sponsors of the event. The performance from the choir was definitely the highlight so a big well done to all that sang for us on the day.”

Karen Bonser said: “We are thrilled the CAPs event raised £8,500 for Our Dementia Choir. These funds will enable the choir to reach out to many people living with dementia, of all ages, and support their families. We were honoured to bring awareness of dementia to the event and show the players and supporters how music can really make a huge difference.”

Funds doubled to £200k to help support Ukrainian refugees in Nottinghamshire

Tess Egginton
-
0
Funds doubled to £200k to help support Ukrainian refugees in Nottinghamshire
A Nottinghamshire County Council-led funding pot to support community groups which are tirelessly helping Ukrainian people settle into the county has been doubled to £200k.This support, which launched earlier this summer, is being funded by the Government’s Homes for Ukraine scheme.With an estimated 1,200 Ukrainian people due to arrive in the county under the Homes for Ukraine scheme, eligible groups are able to apply for funds of up to £5,000 to continue to help provide advice and support. This includes hosting special community events, providing access to translation services and language classes and promoting health and well-being.The first batch of projects have now been awarded funds, including three projects run by Nottingham’s Ukrainian Cultural Centre which has warmly welcomed the funding.This Nottingham Branch of the Association of Ukrainians in Great Britain is also the Council chairman’s, Cllr Roger Jackson, community cause this year, so he has been busy championing the work they do. At the recent ‘Defenders of the Flag’ commemorations, Cllr Jackson presented the Centre with a cheque, having raised £5,000 in donations so far.
Cllr John Cottee, Nottinghamshire County Council’s cabinet member for communities, said: “We recognise the huge contribution that voluntary groups are already making to the lives of those who have fled Ukraine and endured unimaginable suffering, with people arriving in the county every week of course.“We’ve had a great response to these funds which is why we decided to double this funding to help as many of these groups as possible. The response from local communities has been incredible, particularly those who have opened up their homes to guests, with new hosts coming forward all the time.“As a county council we have been working closely with partners to help the Home for Ukraine scheme run as smoothly as possible. We are helping with access to benefits, healthcare, employment, language and other support.”Nottingham’s Ukrainian Cultural Centre is providing support for guests across the county with three separate projects receiving funding:*The Centre’s popular Chai Club receives £5,000 towards volunteer travel costs, equipment, and premises costs. The Chai Club provides access to health, financial information and support as well as providing volunteering and befriending opportunities for Ukrainian guests in a safe space which promotes Ukrainian culture. *£4,480 will go towards volunteer expenses, tutor fees, costs towards equipment and venue hire to support creative artist programmes aimed at encouraging young people to focus on the links between Ukrainian cultural heritage and living in Nottinghamshire. This is supported by architects and aims to equip young Ukrainians with ideas, knowledge, and skills to help rebuild their homeland in the future.*£4,760 toward tutor fees and volunteer expenses to provide five sessions of ESOL at different levels of ability weekly over a period of 33 weeks, delivered by qualified tutors.
Council chairman, Cllr Jackson said: “I’m delighted that Nottingham’s Ukrainian Centre has had this level of support from both the donations raised and via the council’s Local Community Fund.
“This centre has done so much to help to welcome guests arriving into Nottinghamshire and acted as first point of contact for many of the hosts. It is very much at the heart of the community providing information, guidance, practical advice and help to those Ukrainians who have been displaced.”
Lina Maksymuk from the Ukrainian Cultural Centre thanked Nottinghamshire County Council for the funding. She said: “We are confident that these grants will not only help different groups of new arrivals but will also help all our volunteers who have been working tirelessly all these months and will make functioning of the Ukrainian centre as a facility and as a hub more sustainable.”The other projects to receive funding from the first round are: 1st/2nd West Bridgford Scout Group – £2,000 will help fund towards volunteer expenses, community events and refreshments. The Group provides Ukrainian guests and their families with a safe space to meet with the wider community to access support and information. This includes access to English language classes, and a range of social activities.The Homes for Ukraine Bassetlaw Support Group – £3,700 will go towards volunteer travel costs, equipment, and premises costs to support a local group specifically set up to support Ukrainian guests. The Group deliver a full range of support services such as ESOL, employment support and social events.Newark & Sherwood Community & Voluntary Service will receive £4,975 to help fund additional staff who will encourage Ukrainian guests to access opportunities to improve their language skills and help them access support, advice and guidance and increase chances of future employment.Nottingham-based Refugee Roots will receive £5,000 which will contribute towards volunteer travel costs, equipment, and premises costs. Building on existing expertise to support refugees and asylum seekers, this group provide a safe space in the community for Ukraine guests across Notts to access English languages classes, requalification, employment support, volunteering opportunities, gardening and health and wellbeing activities. St Johns Church, Worksop – £5,000 will contribute towards volunteer travel costs, equipment, and premises costs. The Church provides a safe space for guests to enable them to make friends and access local employment opportunities, health care and professional trauma support if needed. Beeston-based Transform Training will receive £4,980 to help fund additional staffing capacity, volunteer expenses and room hire to provide specialist employability support for Homes for Ukraine guests, providing translation services for CVs, supporting job search and interview preparation.The LCF scheme is supporting eligible local community projects and activities to welcome and integrate refugees arriving in Nottinghamshire. This will include:• Costs associated with supporting English language classes• Costs associated with running job clubs• Advice and support on financial matters• Tackling loneliness and isolation through for example befriending schemes and support networks• Promoting health and well-being• Organising community events• Supporting and encouraging volunteering.
The scheme will work in the similar way as the Local Community Fund,• A rolling programme of applications throughout the year• A maximum of £5,000 can be applied for per project/activity• A simple application and assessment process• A member-led approach with the approval of grants made by the Cabinet Member for Communities  Eligible groups can apply here: The Local Communities Fund (LCF) | Nottinghamshire County Council

200 Degrees turns ten

Tess Egginton
-
0
200 Degrees turns ten

200 Degrees Coffee gathered at its Nottingham Roast House last week, with colleagues and friends, to celebrate ten years in business.

The coffee roaster has been on quite a journey since the company began in 2012, having opened 17 coffee shops – with its latest in Derby opening next month – six barista schools, launching a home subscription and ecommerce service, significantly investing in its Roast House, reaching 200 team members and recently welcoming four new roles to its central operations team.

Held at the company’s Roast House on Meadow Lane, the event marked and celebrated the 10-year milestone and thanked the 200 Degrees team – some of which have been with the company since its inception – its suppliers, partners, loyal customers and others that have played a part in the coffee roaster’s success.

The jam-packed evening was filled with 200 Degrees’ signature coffee blends, Espresso Martinis and street food from local vendors. Guests also had the chance to try their hand at latte art and win a Sage coffee machine, as well as guided tours of its newly refurbished Roast House and a roasting experience with head roaster, Mike Steele.

To top off the evening, the company shared an exclusive preview of its new coffee packaging ahead of its launch to market in November.

Co-founders Rob Darby and Tom Vincent set up 200 Degrees from the corner of a garage before it moved on to its roastery on Meadow Lane – opposite the Notts County Football Stadium – and since its inception the company has expanded its footprint across the Midlands, North and Wales.

CEO Rob said: “200 Degrees was born out of wanting to solve a problem. Tom and I wanted to find better coffee, service and training, and after struggling to find it, we decided to become the solution.

“Ten years later and we are operating with a team of just over 200 people, which is what I am most proud of. There’s huge pride in running a business with a team of this scale – from accountants and sales managers to roasters and packers in the warehouse.

“We knew we wanted to open a number of coffee shops, but it has grown beyond that and we’re getting ready to open our 18th shop. There will be more to come, and we will continue to do what we’re doing but better and more sustainably, to evolve the brand and create experiences for everyone to remember.

“We’d like to thank everyone that joined us to celebrate ten incredible years and we look forward to what the next ten brings for 200 Degrees!”

Anthony James restructures management team as Boorman becomes CEO

Tess Egginton
-
0
Anthony James restructures management team as Boorman becomes CEO

Loughborough-based insurance broker, Anthony James, has announced strategic changes within the structure of its senior management team.

The restructure sees current Managing Director Steve Boorman become CEO, with sales director Jacob Duckworth moving into the MD role.

The news is the latest move as the firm consolidates it position in the market following the acquisition of Nottingham counterpart Bale Insurance Brokers back in the spring.

Speaking about the changes, Steve Boorman said: “We have ambitious plans for sustainable growth in terms of the team, our business and our associated businesses. A big part of that wider picture is working with, developing and promoting incredible talent and Jacob is a perfect illustration of that.

“In a market known for consolidation, we are fiercely independent. Maintaining that independence requires the creation and development of a thriving culture within the organisation. Jacob, Leonie Rainbow (operations director) and Liudmila Matvievskaia (finance director) are leading that charge and I’m proud to have worked with them as they have built their careers in the industry together here at Anthony James.”

Jacob Duckworth added: “I am immensely proud to be moving into a role that Steve has created, thrived in and developed over these past years. We are ‘reliably different’ as a company and certainly as an insurance brokerage and that is down to the values that Steve has helped to instil right across the team and into our entire philosophy as a company.

“Fortunately for me, I will be working very closely with Steve, Leonie and Liudmila to continue in this spirit of innovation, customer-centric thinking and frankly, just doing things differently, to develop our client offering and experience further still.”

East Midlands marketer publishes his first book

Tess Egginton
-
0
East Midlands marketer publishes his first book
Barry Michael Aldridge, a fully chartered marketer, and head of marketing for Flotec Industrial Limited, a Loughborough-based SME manufacturer, has written and published a book which he has titled ‘Open-Minded’. Having worked predominantly within the B2B sector for many years, Aldridge is well known both in industry and marketing’s professional networking circuit. Barry explained the reason for publishing his book: “Earlier this year, I set myself a personal challenge of writing a book and ideally having it published before the end of 2022. I had been blogging ‘Open-Minded’ on LinkedIn so decided to continue with that theme and turn it into a book.” Barry describes ‘Open-Minded’ as being ‘an A to Z of creative thinking’. In the book Barry works his way through the alphabet, thinking of words to act as a launch pad for creative thinking and discussion. Topics covered include marketing, technology and sociological matters. “I explore neurodiversity in the book as well. I’m trying to support organisations like the Business Gateway in raising the profile of neurodiversity in the workplace so that all the skills that people with ADHD, Autism and other conditions have can be used productively at work with a few reasonable adjustments. The leftfield point of view that neurodivergent people bring to business can be a really powerful differentiating factor in improving processes and spotting opportunities to create new products.” Barry concluded: “People have asked why I have written a book and the answer really is because I wanted to share my experiences, thoughts, and ideas. To hold a printed book in your hand and read through its pages with the knowledge that it is your very own work feels incredibly rewarding.” Open-Minded – An A to Z of Creative Thinking is available to buy now on Amazon in digital, paperback, and hard copy formats: https://bit.ly/open-minded-the-book

Investment zone bids put forward for Lincolnshire

Tess Egginton
-
0
Investment zone bids put forward for Lincolnshire
Two expressions of interest have been put forward for sites in Lincolnshire to become new government Investment Zones.
One submission is for an Investment Zone which supports the UK Food Valley, covering Clay Lake, Spalding, and Holbeach Food Enterprise Zone. The second submission is for an Investment Zone covering Spitalgate, Grantham, which builds on the location and scale of the area. It is likely that the process will be highly competitive and that only a relatively small number of Investment Zones will be granted, with hundreds of applications expected. Cllr Colin Davie, executive councillor for economy and place at the county council, said: “Investment zones are a great opportunity to benefit landowners, developers and businesses, with faster, more simple planning processes, a focus on infrastructure requirements, and tax and other local incentives. “As always, we are ambitious for our area and have prepared bids where we can make improvements straight away and deliver real growth. The tight deadline the government set suggest they will choose submissions where councils are able to deliver outcomes very quickly.” Councillor Nick Worth, South Holland District Council deputy leader and portfolio holder for people, places, economy, said: “I am really pleased that we have the opportunity to put forward this expression of interest for a new Investment Zone within South Holland, which would support development and growth in the district and help us to attract and create more new and innovative businesses. “There are already so many examples of forward-thinking and ambitious work being carried out in the local area, with the Holbeach Food Enterprise Zone just one example of the progressive steps we are taking. “Being chosen as one of the first Investment Zones for the country would provide another great and welcome boost on this journey.” Jon Hinde, head of economic development at South Kesteven District Council, said: “A successful bid would provide the opportunity for Spitalgate Level to deliver significant housing growth, inward investment opportunities and job creation for the local and wider area. “This would support South Kesteven District Council’s key ambition to deliver ongoing and sustainable growth of the economy, something fundamental to the success of the district, its businesses and residents. “The Spitalgate Level Investment Zone would be a key initiative for bringing that growth forward and establishing Grantham, with its existing manufacturing and logistics sectors, as a high value centre connected by the A51, the A1 and benefiting from its new relief road and rail links.”

Derbyshire pledges support to help minerals industry become more sustainable

Tess Egginton
-
0
Derbyshire pledges support to help minerals industry become more sustainable
Leading figures from the quarrying and mineral products industry met with Derbyshire County Council cabinet members on Friday to discuss how they could work together to cut carbon emissions on the journey to net zero. As one of the country’s leading producers of minerals, Derbyshire has a long history of mineral production and council representatives joined important industry delegates for a round-table discussion about making the industry greener, hosted by the building materials firm CRH Tarmac at their Tunstead site, Buxton. Topics for discussion included alternative fuels, road network capacity and constraints, carbon capture, storage, and utilisation, distribution logistics, and education and skills. Cabinet member for infrastructure and environment, councillor Carolyn Renwick, said: “We very much welcomed this opportunity to talk to leading figures in the mineral products industry to discuss their plans and ambitions to become more sustainable, and we thank Viv Russell, president of The Institute of Quarrying, for making this event happen. “While Derbyshire’s varied mineral resources bring significant benefits to both the local and national economy, we recognise that the extraction of minerals, processing, and transport to market all generate carbon emissions which contribute to climate change. “The county council is committed to helping Derbyshire to become a net zero county by 2050 or sooner to help halt the effects of climate change, and so this was a great first step towards finding out what we as a local authority can do to support the sector to become more sustainable locally, which we hope will also help to bring about change nationally. “We acknowledge the steps the industry has taken so far and the ongoing investments it continues to make towards achieving net zero emissions and we look forward to working with the sector more closely in the future.” The Derbyshire Mineral Products Industry is worth £2.1 billion to the local economy and is the largest producing county to a sector that is the largest manufacturing industry employing 100,000 in the UK. Viv Russell, president of The Institute of Quarrying, added: ”Establishing collaborative initiatives such as this between the regional authorities and the industry are critical to ensure we can meet the challenges of decarbonisation. I hope this meeting is the first step in developing a pathway to delivering on our collective ambition.” The council are currently working with Derby City Council to produce the Derbyshire and Derby Minerals Local Plan to help to positively plan for delivering sustainable minerals development for the period up to 2038. It will include a framework of strategic policies that will set out an overall strategy for the pattern and scale of mineral development to make provision for the supply of minerals. The plan has a key role in mitigating and adapting to climate change, helping the move towards a low-carbon economy, and responding to the impacts of climate change.

Trading ahead of expectations at Ibstock

Tess Egginton
-
0
Trading ahead of expectations at Ibstock
Ibstock, the manufacturer of clay bricks and concrete products, has hailed a “strong trading performance” in an update for its third quarter, ended 30 September 2022. Trading is ahead of the Leicestershire-based firm’s expectations, which it says has been supported by robust demand and a resilient business model. Ibstock’s board now expects FY22 performance to be above its previous expectations. The company said: “Whilst remaining mindful of the uncertain macroeconomic environment, the resilience of our business model and the strength of our performance in the third quarter of the year give us confidence in the outlook for the full year. Accordingly, we now expect performance for the 2022 year to be above our previous expectations.” Joe Hudson, Chief Executive Officer, said: “Our strong trading in the first half of the year continued through the third quarter, supported by robust demand across our end markets. We remain focused on serving our customers, through providing high quality, sustainable products and solutions to create much-needed homes and spaces across the UK. “We are making good progress in line with the strategy set out in March, and have continued to invest in areas that support our plans to capture growth opportunities across both our existing markets and new, fast growth segments of the construction sector. “Whilst we remain mindful of the elevated macroeconomic uncertainty, we now anticipate performance for the 2022 year to be above our previous expectations.”

Melton Building Society office refurbishment leads to huge furniture donation drive

Tess Egginton
-
0
Melton Building Society office refurbishment leads to huge furniture donation drive
Schools, community clubs, charities and businesses around Melton Mowbray have benefitted from a generous donation of thousands of pounds worth of furniture and electrical appliances courtesy of Melton Building Society, who are undertaking the major renovation of their Mutual House offices on Leicester Road. As part of the clear out, a significant number of chairs, tables, storage units, desks, printers and other electrical appliances have been donated to worthy recipients including, Wreake Valley Academy and Birchwood School, where it is hoped that the staff and students will benefit from the extra equipment. Local charity, Melton and District Money Advice Centre (MADMAC) were thrilled to receive some items of furniture to improve their office space. Chief Executive of the charity, Amanda Heath, said: “We are so pleased with the furniture we received for our charity which has upgraded the reception area with a lovely leather settee and chair set. We also have new office chairs for all our desks which has made working so much more comfortable. “We wouldn’t have been able to afford to buy these items ourselves, so all our staff, volunteers and clients will benefit from this wonderful donation. “We were also able to bless some grateful clients with items such as fridges, microwaves and our old office chairs and sofa, which otherwise they wouldn’t be able to afford.” At the end of the office clear out it’s hoped that all the items have been recycled and rehomed, limiting anything being unnecessarily sent to landfill. Some items went to local independent businesses such as Stace Roofing, who in turn gifted a generous donation to the Melton Mowbray Building Society Charitable Foundation, which raises funds for charities and community activity in the Melton area. Andrew Stace, Managing Director of Stace Roofing, said: “Stace Roofing Ltd are so very grateful to Melton Building Society for the generous repurposing of their office furniture. “The tables, chairs, cabinets and meeting table will be put to good use in Stace Roofing’s new offices. It was a pleasure to donate to the MMBS charitable foundation. It’s good to give back.” Rachel Kolebuk, chief customer officer at Melton Building Society, said: “We’re so grateful to see these items go to such great homes and we’re working hard to ensure that the furniture and devices being replaced during the refurbishment are recycled and go towards supporting the community as part of our drive towards environmental and social sustainability.”
1...819820821...1,115Page 820 of 1,115