Diversity In2 Engineering returns to Derby this week
Bosses urged to future proof their businesses by giving staff the right training
- Chesterfield Borough Council, Skills Brokerage Service
- Chesterfield College
- Derbyshire BAME Forum
- Direct Education Business Partnership
- University of Derby
- D2N2 Careers Hub/ D2N2 LEP
- Derbyshire County Council/ National Careers Service
- North East Derbyshire District Council
- Department for Work and Pensions
- Auto Windscreens, owned by Markerstudy Group
- East Midlands Railway
Renovation of derelict barns into modern offices completed at Ednaston Park Business Centre
Flogas Britain acquires another energy company
East Midlands business activity growth accelerates to fastest since May 2022
Warning for Midlands businesses as tide rises on corporate insolvencies
A rising tide of insolvent businesses in England and Wales could swell further and lead to a significant hike in corporate insolvency levels across the region for 2024.
This is according to the Midlands branch of insolvency and restructuring body R3 and follows the latest annual statistics published by the Insolvency Service which show that there were 25,158 seasonally adjusted corporate insolvencies in 2023, which is an increase of 13.7% on 2022’s figure of 22,123.
The 2023 figure is also an increase of 78.9% on the 2021 statistic of 14,059, and a rise of 46.6% on the 2019 pre-pandemic figure of 17,163.
R3 Midlands chair Stephen Rome, a partner at Penningtons Manches Cooper in the region, said: “Increases in Creditors’ Voluntary Liquidations (CVLs), Compulsory Liquidations and administrations have driven corporate insolvencies to a 30-year high.
“This is due to a combination of increased costs, cautious spending, creditor pressure and the post-pandemic hangover. Unless the economic picture improves, it seems likely that insolvency numbers will rise yet again this year.
“The upsurge in consumer spending that many businesses had been hoping for since the end of lockdown hasn’t happened or, at least, hasn’t been sustained, and the firms who were hanging on and hoping for it have simply run out of time and money. The current business climate is undeniably harsh.
“Our message to company directors, therefore, is simple: if you’re worried about your business, seek advice. It can be a hard conversation to have, let alone start, but there will be more options available, and more time to make a decision, if you act when your worries are fresh, rather than when they’ve spiralled.”
Plans for new retail, office and residential space in Derby to go to Cabinet
Precept cook up a storm by volunteering at YMCA Derbyshire
Volunteers from a Derby company swapped their pens for serving spoons when they cooked up lunches for the community.
HR & Employment company Precept – part of the Barron McCann group – took part in the YMCA Derbyshire Community Meal which, in collaboration with local mental health charity Head High, gives local businesses and community groups the opportunity to provide a nourishing meal for people who might be feeling isolated.
They served traditional Australian pie, mash and peas followed by Lamingtons – a butter cake coated in an outer layer of chocolate sauce and rolled in desiccated coconut that is popular Down Under – to mark Australia Day. Precept staff also donned comedy hats decorated with miniature corks, and themed the dining room accordingly.
More than 100 people attended the event at the YMCA, in London Road, which is aimed at combatting loneliness, a major cause of mental health problems amongst adults.
Also enjoying lunch were members of YMCA in Capetown, who were visiting the city to hear of the successful projects that their counterparts in Derby have been involved with. Pictures of the day were also sent to the YMCA in Australia to showcase celebrations of their national day.
As well as supporting the YMCA’s Community Meal, Precept are also Derby County Community Trust partners and donate to the Mortgage Advice Bureau Foundation. They support S.H.E. UK, too; a charity based in Nottinghamshire that offers support for survivors of childhood sexual abuse, exploitation and sexual violence.
Rob Tice, Managing Director of Precept, said: “When we heard about the community meal, we thought that it would be a great way of supporting the YMCA in a practical way. We had some guidance about quantities – we have never cooked for such large numbers before – and staff at the YMCA were really helpful.”
Emma Tice, who is Head of HR & Employment Law at the firm – and who had spent 11-and-a-half-hours preparing the Lamingtons the day before – said: “We wanted to bring a bit of fun to the day, and I think we certainly did that.
“Precept will certainly be joining forces with the YMCA again and we’re currently exploring how the partnership can be developed.”
Rob added: “We found it hard work but a great team-building exercise and we all found it very rewarding. The best part, for me, was meeting and spending time with the people who attended the lunch. We’d highly recommend that other community groups and businesses get involved.”