- Raj Raithatha, NBV Enterprise Solutions: Business Planning, your roadmap to success
- Barry Taylor, Laugh Therapy UK: March to WELLth: Happiness, Play and Laughter for Wellbeing and Business Success
- John Morley, i-Sourcer: Using LinkedIn to grow your business, what worked for me and the benefits of advertising online
- Gau Naik, Exemplas: Accessing the Right Money at the Right Time
New business owners don’t need to go it alone, says Leicestershire Growth Hub
Starting a new business can seem like a daunting prospect for many. There can be so much to think about and it’s easy to get overwhelmed. With this in mind, LLEP Business Gateway Growth Hub is running Business Boost: Focus on Start-up Support on 12 March 2024 for would-be and new business owners.
The free morning event will provide practical advice and support through a variety of expert speakers covering key business start-up topics for anyone thinking about or who has just started a business in Leicester and Leicestershire. Speakers will provide information on business planning, growing through social media, finance and well-being. This includes:
Lincolnshire timber firm to be sold
Saint-Gobain has signed a binding agreement for the sale of its treated timber products (utility poles, fencing and railway sleepers) manufacturing brands.
Iivari Mononen Group is to take on Lincolnshire-based Calders & Grandidge, as well as PDM in Ireland.
The divested assets generated revenues of €50 million in 2023 and employ 80 people.
The divestment of PDM completed on 1 March, and the sale of Calders & Grandidge is expected to be completed by the end of 2024, subject to competition authority clearance.
Established for over 100 years, Calders & Grandidge is headquartered in Boston, Lincolnshire.
The company noted that the divestments “are part of Saint-Gobain’s continued business profile optimization strategy, in line with its ‘Grow & Impact’ plan.”
Frasers Group to buy bike retailer’s brand and intellectual property
Shirebrook-based Frasers Group has agreed to buy the brand and intellectual property of bike retailer Wiggle from administration.
According to reports from The Times, the deal is worth under £10m.
It includes the brand and intellectual property of both Wiggle and Chain Reaction Cycles, adding to Frasers Group’s cycling business.
The retail giant acquired Evans Cycles in 2018 and ProBikeKit in 2023.
Wiggle fell into administration in October, with FRP Advisory assuming control of the business.
202,000 sq ft of new space completes at St. Modwen Park Derby
St. Modwen Logistics has completed four new logistics units totalling 202,000 sq ft at St. Modwen Park Derby. An additional 147,000 sq ft pre-let unit is also due to be completed this Spring as part of this second phase of development.
This latest c.£60 million phase of the Park’s development adds to the existing first phase of 300,000 sq ft completed at the Park. The four new units, ranging in size from 27,000-82,000 sq ft, have been built to St. Modwen Logistics’ ‘Swan Standard’ of sustainable construction, achieving BREEAM ‘Excellent’ accreditation and an EPC A+ rating.
St. Modwen Logistics has already secured a diverse mix of occupiers at St. Modwen Park Derby.
German heat pump manufacturer Vaillant occupies a 131,000 sq ft unit, whilst Swedish medical technology company Getinge has also established a new Global Centre of Excellence for Chemistry within a 79,000 sq ft building which also acts as its UK headquarters.
In October 2023, St. Modwen Logistics also announced that it has leased a c.40,000 sq ft unit to global automotive company Kia for use as a cutting-edge new training academy for the next generation of Kia employees.
Robert Richardson, Development Director at St. Modwen Logistics, said: “St. Modwen Park Derby has already attracted a variety of blue-chip industrial and logistics occupiers, contributing to its reputation as a national hub for training and research for the manufacturing, healthcare and automotive industries.
“This latest phase of development, which will more than double the Park’s industrial and logistics floorspace, provides occupiers of all sizes the opportunity to benefit from the scheme’s thriving business ecosystem, exceptional sustainability features and commanding location in one of the UK’s most in-demand logistics markets.”
25,000ft² of space adjoining the A38 at Junction 28 of the M1 sold
Acting on behalf of private clients, FHP’s Tim Gilbertson has concluded the sale of 25,000ft² of space adjoining the A38 at Junction 28 of the M1 motorway.
The sale concluded sees local occupiers CVH-OMFB Limited relocate from their current base on Carter Lane East in South Normanton to enable their continued growth and expansion in a much larger building which benefits from a large, oversized site.
Tim Gilbertson said: “It was great to see this deal concluded so swiftly after we agreed terms with our purchaser. Again, this a rarity in the market, a building that can be sold and also one with a large yard, so it’s great to tie up a deal quickly and see exchange of
contracts happen within a few weeks of instruction of solicitors.
“I wish the new occupiers well in what I think is an excellent building and I am sure one which will serve them well for the future.
“There still remains little space to buy on the market of any size in the East Midlands and indeed stock levels are starting to drop in terms of leasehold warehouse or manufacturing space too.
“Hopefully though this in general is a good sign of demand, albeit we do need more space now to meet the aspirations of any number of occupiers that we know who are
looking to move on.”
Carl Hinds, Managing Director of CVH-OMFB Limited, said: “We are delighted at securing this top quality building to aid our expansion within the region. It has the yard space and
internal accommodation we need, keeps us very close to the M1 motorway and being set so near to our current base, it ensures that we keep our staff happy which is always important.
“Many thanks to Tim Gilbertson and FHP for helping us see this deal over the line, they are now marketing our current building and hopefully they will have similar success there as their positive, helpful attitude has been terrific throughout.”
Pace of AI adoption means Government and education system have to catch-up fast, say small firms
Small firms need protection from deepfakes and improvements to the education system to allow Artificial Intelligence (AI) to live up to its true potential, a new report by the Federation of Small Businesses (FSB) shows.
Redefining Intelligence: The Growth of AI Among Small Firms, published today, emphasises that while the technology can work in tandem with human intelligence and creativity, it should not replace human judgement entirely.
It also highlights the importance of Intellectual Property (IP) rights, over fears that allowing AI to sidestep IP could disincentivise small firms from coming up with new, creative ideas.
Figures show that small firms are adopting AI at a rapid pace, with one in five (20%) already using it, and 11 in 20 (55%) recognising its potential benefits. Similarly, three in five (60%) aiming for rapid growth plan to use it – but these figures are likely to grow quickly as the technology gets smarter.
But while AI will bring many benefits, the risks must not be glossed over as the AI debate gains more traction, with the 73 per cent yet to embrace it worried about:
- 46% not having the knowledge to use it correctly.
- 31% their ability to manage security risks.
- 24% the impact of deepfakes.
- 20% the abuse of their IP rights.
- 12% whether it will reduce the long-term viability of their business.
- Make it illegal to use deepfakes with the intent to cause commercial damage, with legal recourse available for victims.
- Request the Law Commission conduct a review into the use of AI and how it relates to IP, and how best to update existing laws to make it clear that copyright can only sit with a human author.
- Broaden the remit of Ofcom so it regulates cloud infrastructure in the same way as utility providers, ensuring cloud infrastructure remains affordable.
- Creating a GCSE and A-Level qualification in applied computing, that focuses on the practical use of AI.
- Specific new programmes to help make small business owners make the best possible use of AI in their business, including to better assess training and to make sure take-up of new technology is supported.
New Government railway funding needs to do more to respond to East Midlands’ needs, warns Chamber
Long-anticipated government funds of £123 million allocated to Midlands Rail Hub – a project to improve connectivity between train stations across the Midlands – is to be welcomed, however does little to meet the needs of those in the East Midlands, say East Midlands Chamber.
The initiative uses cash freed up by abandoned HS2 funds to upgrade stations and improve infrastructure across the overall Midlands area.
East Midlands Chamber Director of Policy and Insight Chris Hobson said: “While any investment in Midlands railway infrastructure is to be welcomed, we’re concerned that once again the primary focus is on towns and cities outside of the East Midlands.
“Our Manifesto for Growth 2024, which we’re taking to Westminster on 11th March, asks our policy makers to ensure we deliver fair funding for infrastructure in the East Midlands. This isn’t about receiving investment at the expense of our neighbours to the west, it’s about Government doing more to rectify the fact that we are the most under-funded region in the country when it comes to rail travel.
“We have desperately inadequate service between stations within the East Midlands and this hampers the tremendous growth potential of businesses. It’s all very well that a Birmingham-bound passenger might be able to jump on an extra train here and there at Nottingham but what we’re stating loud and clear in our manifesto is the huge need for transformational improvement within the East Midlands.
“We look forward to taking our manifesto to Westminster on 11th March and insisting politicians listen to what our businesses need to succeed.”
Chesterfield plant company secures £400,000 asset finance package to support growth
Paragon Bank’s SME Lending Division has supported Chesterfield-based plant company SH Plant Ltd to purchase two trucks through an asset finance funding solution of £400,000. The company has purchased two Volvo articulated dump trucks through an asset finance package of £400,000 to support its growing business, adding to its fleet of existing vehicles. Of the two vehicles purchased, one of the articulated dump trucks was bought at auction, with the finance agreed with Paragon Bank before the auction took place. This enabled SH Plant to finalise the deal with the auction house on the day and collect it in less than a week. The second vehicle was purchased directly from Volvo, via Paragon Bank. SH Plant is a family-run business in Chesterfield operating in the quarrying industry. It specialises in rock extraction, soil stripping, hauling, and restoration works. The company was founded by company Director, Terry McGrael, who has over 40 years’ experience in the industry. Terry works alongside his wife, Hazel, and daughter Rosie to manage the day-to-day running of the business. This deal was led on behalf of Paragon’s SME Lending division by Todd Auger, Business Development Manager who works in the Vendor team, headed by Terry Lloyd.
SH Plant Limited Managing Director, Terry McGrael said: “It’s been great to work with Todd and the Paragon team for the purchase of our two new Volvo articulated dump trucks that will help us to expand our business operations.
“We’re pleased that we were able to source the vehicles from two different suppliers, one direct from Volvo and the other via auction, and still work with Paragon to fund both.”
Paragon Bank SME Lending Division Business Development Manager Todd Auger added: “It’s been a pleasure to work with Terry again, we’ve had a relationship with SH Plant Limited since 2021 and have helped the company to acquire various types of machinery and vehicles to support its expansion over the years. “At Paragon we can offer flexibility when it comes to the method of purchase, therefore we were thrilled to be able to support Terry to purchase one of the vehicles at auction, helping him to agree the funds before the auction took place.”
M&A report reveals Midlands ‘significantly outperformed’ other UK regions in 2023
Despite deal volume declining across the UK, the Midlands ‘significantly outperformed’ other regions, according to Experian’s 2023 UK and Ireland (UK&I) M&A Review.
Although the Midlands saw a 7% year-on-year decline in deal numbers, it performed better than other UK regions, which all experienced steeper declines from 2022 to 2023. National deal activity overall declined by 12% during a challenging year for market conditions, however a connection to the Midlands was found in approximately 15% of all UK transactions.
Despite the widespread decline in deal volume, advisers PKF rose three ranks to become the 5th most active dealmaking team in the Midlands and a further six places in the national rankings to become the 7th most active in the UK. PKF completed 103 eligible deals, with the Midlands division and mid-market specialists PKF Smith Cooper securing 22 of those deals with a combined value of £277m.
Darren Hodson, Corporate Finance Partner, said: “93% of our transactions involved Midlands businesses, clearly demonstrating that Midlands-based companies remain attractive to investors.
“In addition to fuelling M&A activity on home soil, we completed a number of cross-border deals, drawing on our global reach and access to international purchasers.
“We are in the midst of ambitious expansion plans for our advisory team and are actively recruiting. We have been growing team numbers to prepare for anticipated increased deal activity in 2024-25 and also seeking to expand our financial due diligence services where we feel there is significant demand for our quality of service.
“We are currently seeing high levels of M&A interest in the technology and renewables sectors and we are optimistic that dealmaking levels in the Midlands and UK will recover from 2023 levels, as uncertainties around inflation, interest rates and political and macro concerns subside, especially with alternate funders and increasing PE activity supporting the market in 2024.”
Firms offered chance to learn about fusion energy at West Burton
UK Atomic Energy Authority has launched a new online tool for business and residents near West Burton to learn more about the vision for the site’s role in developing a prototype fusion power plant with the potential to create nearly four million times more energy for every kilogram of fuel than burning coal, oil or gas.
A team from UK Atomic Energy Authority has developed the online tool alongside development of the Spherical Tokamak for Energy Production vision for the West Burton site near Gainsborough, where the prototype fusion powerplant will be built. It’s said that fusion has the potential to become a near-limitless source of low carbon energy by copying the processes that power the sun and stars, where atoms are fused to release energy.
Nearby businesses and residents can see for the first time how UKAEA is approaching the layout of the site, which is underpinned by four key themes:
- the environment, innovation and climate change resilience
- health and wellbeing
- an inclusive economy
- identity/distinctiveness, taking into consideration culture and heritage.
