Derbyshire-based specialist contractor Cawarden has added a Komatsu high reach demolition excavator to its equipment portfolio, thanks to fresh funding from Paragon Bank. Based in Derby and a provider of demolition, land remediation, earthworks, civils and groundworks project services throughout the UK, Cawarden secured over half a million pounds to acquire a PC490HRD-11. The new funding agreement is the latest in a series between Cawarden and Paragon’s SME Lending division, which has seen the two firms work together for over two decades. Founded over 35 years ago by William Crooks, Cawarden today employs 120 people and has a turnover of £22 million. It provides clients with an integrated ‘destruction to construction’ solution, allowing them to deal with only the delivery contractor. Terry Lloyd, head of construction at Paragon, has worked closely with William Crooks throughout Cawarden’s commercial relationship with Paragon – which now totals funding of over £10 million. Commenting on the latest funding agreement between Paragon and Cawarden, Terry Lloyd said: “Building close partnerships with businesses is key to what we do. By listening to our clients, understanding their needs, and then providing funding solutions that work for them has allowed us to build our reputation in the sector as a trusted financial partner. “I’m delighted that we were able to put this experience and expertise to excellent use with our latest funding arrangement with Cawarden.” He continued: “For our economy to thrive it is vital that fantastic firms such as Cawarden can access the funding they need to ensure they continue to grow and deliver essential services. Without the construction and demolition sector, our country would grind to a halt – and I am proud of the work Paragon does in keeping it moving.” Commenting on Paragon’s funding support for Cawarden, William Crooks said: “Providing our clients with the highest standard of service is central to our business, and with the addition of a Komatsu PC490HRD-11 to our industry-leading equipment portfolio we will continue to keep doing so in the years ahead.” He continued: “Working with Terry and the team at Paragon has been an invaluable driver of our growth as a business. Thanks to their commitment to understanding our operations and providing funding solutions that are tailored to our requirements, we’ve been able to develop a partnership that will continue to benefit Cawarden and our clients for years to come.”

Rising costs for energy, borrowing and products and materials in the build-up to Christmas are the top concerns for Midlands businesses in the coming weeks, according to the latest report from accountancy and business advisory firm BDO LLP. The bi-monthly Rethinking the Economy survey of 500 mid-market businesses has revealed that the rising cost of products and materials is causing the greatest concern for nearly a third of businesses in the region. The survey showed that a third see higher energy costs as their biggest challenge in the final few weeks of the year, together with rising interest rates and the cost of borrowing (32%). As businesses in the region face significant cost pressures, many are taking proactive steps to address the latest challenges facing their business. According to the Rethinking the Economy survey, 29% of Midlands companies are taking on new debt or extending existing overdraft facilities – the highest rate of any other UK region – while a further 27% intend to launch new products and services to create additional revenue streams. However, despite the challenges facing businesses in the final month of the year, an overwhelming number of Midlands businesses (76%) stated that they feel more optimistic about business prospects going into 2023, compared to this time last year, marking a shift in sentiment since COVID-19 restrictions were lifted. Kyla Bellingall, regional managing partner at BDO LLP in the Midlands, said:  “Hearing businesses report that they are in a better place than this time last year is a positive but there’s no doubt that trading conditions remain extremely challenging for many Midlands businesses, following a period of sustained pressure over an extended period of time. “However, despite the concerns surrounding rising costs, the Midlands is a resilient marketplace and many businesses are well positioned and primed to ride out the economic storm.” The Rethinking the Economy survey showed that more than half of Midlands businesses have changed their approach to raising funding in the last three to six months due to the economic climate, with 17% admitting that they are seeking funding earlier than planned to ease inflationary and other pressures on the business. Bellingall added: “With rising costs set to be an enduring theme throughout next year, Midlands businesses cannot do this alone and are calling for more targeted support to help secure the long-term future of mid-market businesses – the engine of the UK’s economy.” According to the survey, nearly a third of regional businesses believe the Government should be providing more investment in apprenticeships and skills programmes for businesses in 2023, with a further 30% looking to the Government for new education and skills policies at a local level, to align qualifications with businesses’ needs and help to ease skills shortages.