Applications open for funding to support Derby businesses

Tess Egginton
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Applications open for funding to support Derby businesses

Derby City Council is inviting eligible and experienced organisations who can help businesses to grow to bid for funding to deliver tailor-made programmes of support.

Applications are now open to experienced business support providers to apply for funding from the UK Shared Prosperity Fund (UKSPF) to deliver a range of programmes that will enable business growth and innovation.

The UK Shared Prosperity Fund was launched in April 2022 to replace EU funding. It is a key part of the Government’s “levelling-up” agenda and is aimed at boosting communities, supporting local businesses and improving skills.

Every part of the UK is receiving an allocation from the fund, covering three years until the end of the 2024-25 financial year. Following Government approval of its Investment Plan, Derby City Council was awarded a total of £6.1million from the core fund.

Each authority is encouraged to use the money to meet the unique needs of their community and location. Taking onboard feedback gathered through a series of roundtables with businesses and existing providers, including the University of Derby and East Midlands Chamber, the Council has developed four priority programme areas:

  • Early years (£345k) – Programmes to enable entrepreneurs to start and grow businesses in their first years in Derby.
  • Sector opportunities (£1.13m) Programmes that champion innovation in product, process or service delivery, enabling company development in Derby key sectors.
  • Inward investment (£600k) – A marketing programme to bring new key sector companies or to support new external investment into the city.
  • Recruitment and skills – (300k) Up to four roles that help with 1) recruitment and skills provision 2) Growth and Scale-up advice ensuring Derby businesses can maximise relevant local and national support opportunities

Councillor Steve Hassall, Cabinet Member for Regeneration, Decarbonisation, Strategic Planning and Transport, said: “We want to support businesses to grow and to recruit, to enable residents to upskill and take advantage of the city’s increased employment opportunities.

“We know that getting the right advice and support at the right time is important to business success and providing tailored, dedicated support is key to driving growth and investment in the economy.

“This funding will create programmes that will create jobs, drive economic growth and help to make Derby a great place to live and work.”

Interested providers should email spf@derby.go.uk to ask for an application pack which will include full details on the four priority programmes, guidance notes and application documentation.

Organisations must submit completed applications by 10am on 7 March 2023.

Applications will be shortlisted in March and projects are expected to start in April 2023.

Independent Derby coffee and lifestyle brand secures funding for expansion

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Independent Derby coffee and lifestyle brand secures funding for expansion
BEAR, the independent coffee brand founded by two entrepreneurs, recently closed a round of fundraising with private equity firm Clark Group. The investment will enable BEAR to open new stores and further its growth, aligning with the founders’ original vision to establish a UK coffee and lifestyle brand. “We’re taking Shoreditch, giving it a pair of walking boots, and taking it for a trek in the Peak District. We recognise who we are and where we have come from, and we’re combining that with all of the best bits of our collective inner-city influences. We’re proud to be from the Midlands, but we’re always keen to explore,” said co-founder, Craig Bunting. Clark Group have a wealth of experience in the hospitality and consumer retail industries, making them a valuable partner for BEAR. The investment firm’s portfolio includes well-known brands such as ThruDark, Wild Nutrition, Press, Bike Shed, and Bremont, among others. Clark Group provides financial support, hands-on guidance, and mentorship from industry leaders, offering a combination of equity and expertise. “We recently invested in BEAR to support them and their ambitious growth plans. They have an outstanding management team and an incredible, high quality customer offer which underpins the BEAR brand appeal. This will be complemented by the skills of Clark Group as BEAR continues to grow its number of locations,” said CFO, Ed Formstone.
BEAR is still considered a start-up, yet they have quickly grown into a leading coffee brand with ambitious plans. Whilst the COVID-19 pandemic temporarily slowed their progress, the brand remains optimistic about the future. The company currently operates five stores across Derbyshire, Staffordshire & Cheshire and has previously operated concessions within popular retail locations such as Jack Wills in Soho and Paperchase on Tottenham Court Road.
The partnership with Clark Group allows BEAR to further align their strategy and link brick-and-mortar stores with online e-commerce. Craig Bunting added: “I see an incredible opportunity to build strong relationships with our guests, moving them from loyalty to advocacy. We will do this by creating products they can enjoy everywhere, whether in-store, at the office, on the go or at home, which excites me. “High Streets have struggled for a long time, exacerbated by the pandemic. However, I am passionate about investing in our local communities. We will do this by using our online platform to drive footfall onto local High Streets and into our neighbourhood stores through a click & collect service, creating the most hospitable e-commerce brand of the future. “We are thrilled to partner with Clark Group Investments and bring BEAR to the next level. Our vision is to become a leading brand within the hospitality & e-commerce sector. Their experience in hospitality and retail, combined with their hands-on support, will be invaluable as we continue to grow.”

Loughborough’s Exec Director of Sport decides to step down

Stuart Pearcey
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Loughborough’s Exec Director of Sport decides to step down

John Steele is to step down as Loughborough University’s Executive Director of Sport in January after nine years in which the University has seen huge success across all areas of sport.

In this time sport participation, diversity and performance have all improved and capital projects such as the Elite Athlete Centre have enhanced Loughborough’s standing in the global sporting landscape.

Loughborough has also increased its commercial income and broadened its range of partnerships and sponsors. The campus has staged major events such as the School Games, and hosted preparation camps for partners including the British Paralympic Association and Team England before the Birmingham 2022 Commonwealth Games last summer. Vice-Chancellor Nick Jennings said: “John’s contribution to Loughborough Sport has been significant. Through his leadership, our sporting activity has been transformed and I’m particularly delighted with the development of our activity in women’s sport and para-sport.” During his time at Loughborough Steele has also made a major contribution to the broader sporting landscape with leadership roles as Chairman of the English Institute of Sport and currently Chairman of Commonwealth Games England. He was awarded an OBE in recognition of his service to sport in the Queens birthday honours in 2021. Mr Steele said: “It has been a privilege to be part of an amazing era of sport at Loughborough. The collective passion and commitment of some wonderful people at the University, has driven forward sport and created a very special environment.” He will remain involved at the University in a part-time advisory and project role including working on the new University strategy and will support the recruitment of a new Pro Vice Chancellor for Sport later in the year.

Historic mills receive six-figure boost

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Historic mills receive six-figure boost
The Arkwright Society, which is responsible for Cromford Mills, has received a six-figure boost to conserve, regenerate and develop the historic site into a major visitor attraction. The charity has received just shy over £250,000 from The National Lottery Heritage Fund to deliver a number of initiatives to ensure that the mills become an even greater attraction for visitors, local businesses and the wider community – and a place that people can enjoy and celebrate its history. Cromford Mills was built in the 1770s and 1780s by Sir Richard Arkwright – and has gone from strength-to-strength since the Arkwright Society purchased the industrial heritage site in 1979. The Heritage Fund money, made possible thanks to National Lottery players, will support staff in activities to engage more widely with people through learning and education about the site and the society’s ambitions for its development. Sustainability is also a key theme for the society, highlighted by the forthcoming installation of a turbine powered water wheel in one of the historic wheel pits at Cromford Mills. The cash will also support the mills’ programme of events, creating a more diverse and fun experience. Critical to the long-term sustainability of the site is the next phase of regeneration at Cromford Mills, which will focus on the repair and repurposing of the remaining buildings on the site, in particular the iconic ‘First Mill’ built by Sir Richard Arkwright in 1771. With £20,000 match funding from the Duke of Devonshire Charitable Trust, a refreshed masterplan will be commissioned, with a clear roadmap for the continuing regeneration of the mills and a business plan for their future use. Chief Executive Eilis Scott said: “The Arkwright Society is immensely grateful for the ongoing support from National Lottery players and The National Lottery Heritage Fund and the Duke of Devonshire Charitable Trust. “This funding will help make the society more resilient and deliver a bright and innovative future. “Cromford Mills is a very special place within the Derwent Valley World Heritage Site, and we want to continue sharing and celebrating the mills and their stories with all our visitors and local businesses. “This funding will give us greater confidence and resource to develop educational activities and plans, particularly for conservation and sustainability, with our local schools and communities; which is at the heart of what the Arkwright Society is all about.”

Streets Chartered Accountants covers tax investigations, the cost of living crisis, the Budget and more in new news roundup

Tess Egginton
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Streets Chartered Accountants covers tax investigations, the cost of living crisis, the Budget and more in new news roundup
Streets Chartered Accountants covers tax investigations, the cost of living crisis, gets ready for the Budget and more in its new news roundup. Peace of mind in 2023 when it comes to your tax affairs – we are concerned that you may not be currently protectedWith the 31st January self-assessment deadline for filing returns having just come and gone, tax matters are probably very much still on the minds of many. Perhaps less so is the potential impact that a tax enquiry or investigation might have on us as an individual or on our business. Whilst we all want to ensure our affairs are in the best order, there is a real risk that the Revenue can instigate an investigation or enquiry. Webinar: The Budget 2023 – what will it mean for you?The Chancellor, Jeremy Hunt, will present his Spring Budget in the House of Commons on Wednesday 15th March 2023. Following the announcements, Streets will be holding a special webinar on Thursday 16th March, 11am till 12noon. Streets will provide details of the announcements along with guidance on what they may mean for businesses and individuals. What are your customers doing differently in light of the cost-of-living crisis? With the rate of inflation having seemingly or hopefully peaked at a 40 year high and with Prime Minster Rishi Sunak’s announcement that he seeks to half the rate of inflation by the end of the year, we might start to feel some sense of easing in the cost of living. However, against this backdrop many households and businesses are still feeling the financial impact of the pandemic. This is aside from the fact that salaries are not keeping pace with inflation. Watch again: Payroll & HR Update 2023Last week Streets hosted its Annual Payroll & HR Update to keep you informed of the issues and changes affecting payroll management, the tax implications around staff employment and remuneration and also some broader HR matters that may concern employers now and in the year ahead. If you missed it and would like to catch up you can watch the recording by clicking the title above. Podcast: connections and support at the heart of entrepreneurial successThis episode of The Streets Sessions features Charlotte Kirton-Cook and Reece Leggett from the University of Lincoln’s Research and Enterprise team, who talk about the University’s work in supporting and nurturing start-up businesses and entrepreneurial scale-ups. The podcast also explores the role of a new network, ‘Entrepreneurs Connect’, set up in conjunction with Streets to support entrepreneurs and share knowledge and experience. Entries are now open for the Midlands Family Business Awards 2023!As accountants and tax advisers looking after family businesses, Streets are once again supporting these Awards and entries are now open! Streets are continuing to sponsor the People’s Choice Award which is a category that all finalists are automatically entered into and is decided by public vote! Good luck!

Planning granted for 10,000 sq ft mixed-use development in Nottingham

Tess Egginton
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Planning granted for 10,000 sq ft mixed-use development in Nottingham
Hillcrest Properties has been granted planning permission for a 4,000 sq ft restaurant and bar, four apartments, four offices and a 1,000 sq ft retail unit on the site of the former Lloyds TSB Bank at 31 Plains Road.Hillcrest, a third-generation family property company based in Nottingham, successfully secured planning consent for the site, which has a projected gross development value of around £2.25m. Work is scheduled to commence over the coming weeks and the units will be available to rent from Q4 2023.Landa Associates have been retained by the developer as letting and managing agents and have been instructed to find an operator for the new restaurant, as well as tenants for the accompanying first floor offices and ground floor retail space.Sunny Landa FRICS, director at Landa Associates who will be leading the marketing, said: “This scheme is yet to hit the market, but we are already being inundated with interest from major operators.“Demand for these sorts of properties located in affluent areas is at an all-time high. This development will help satisfy that by bringing new high-quality space to this part of Nottingham. We are confident that the prestigious location coupled with the ambitious plans our client has for the development will stimulate economic growth and job creation.“On behalf of Hillcrest, I would like to thank the planning committee at Gedling Borough Council for granting permission for this fantastic new addition to Mapperley.”EDGE is providing cost and project management services for the scheme. Elliot Holloway said: ‘‘We are proud to be a part of this development and I look forward to seeing the project complete. The plans are of the highest quality and the nature of the accommodation will be superb.”

Reserved matters submitted for 947,650 sq ft industrial and logistics development

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Reserved matters submitted for 947,650 sq ft industrial and logistics development
Mountpark Logistics has submitted a reserved matters planning application to Hinckley and Bosworth Borough Council for a 947,650 sq ft industrial and logistics development at Stanton Lane, Coalville. Known as Mountpark Bardon III, the proposed scheme comprises two high quality buildings of 535,955 sq ft and 411,695 sq ft, both of which have been designed to achieve EPC ‘A’ ratings and minimum BREEAM ‘Excellent’ accreditations. As part of its plans, Mountpark has designated 50% of the site as green space to support biodiversity and provide a landscaped woodland park for both employees and local residents to enjoy. The new scheme is the third and final phase of Mountpark Bardon, which is strategically located near Junction 22 of the M1, north of Leicester and within a 4.5 hour HGV drive time of around 85% of the UK population. “The success of the first two phases of Mountpark Bardon has demonstrated the high demand for large logistics facilities along the M1 corridor,” said Tom Kilmister, senior development director at Mountpark UK & Ireland. “By making sure detailed planning permission is in place, we can offer customers certainty of delivery to meet tight operational deadlines. “As a business, we seek to offer our customers the best logistics property opportunities on the market, including high quality amenity space – such as roof terraces and landscaped surroundings – that will create an attractive working environment for employees.” DTRE and CBRE are representing Mountpark.

Bio8 secures funding for MBO

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Bio8 secures funding for MBO
SME Capital has agreed a bespoke funding package to support the management restructure of Bio8 Ltd, a provider of home and gardening products sold online under the ‘Envii’ brand.
Founded by Andrew Hiron, the Chesterfield-based business originally started with their pond product range which remains their largest seller, before expanding into gardening products and eventually home cleaning products as well. The business has been operating under its current form since 2014, with the business selling the majority of products through Amazon and eBay. More recently the business has been pushing to sell more through its own website. With 8 years’ experience in ecommerce SMEs and 6 years’ experience at Bio8, Oliver Peabody is responsible for the sales/marketing strategy which has grown the business from a turnover of £600k to £3.6m in 2022. SME Capital have agreed to provide a bespoke 5-year term funding solution to support the MBO and the business’s next phase of growth.
Commenting on the deal, Oliver Peabody, Managing Director, Bio8, said: “We are delighted to have completed on the deal and excited to start growing the business once more. We look forward to doubling down on our values and providing high quality, thoughtful solutions to the home and garden industry. “SME Capital have been great to work with throughout the process of the deal and very supportive along the way. We look forward to working with them over the coming years.” Stuart Watson, regional director, SME Capital, added: “Bio8 is an excellent business, whose ‘Envii’ brand has strong market recognition and has become synonymous with quality and environmentally friendly products and excellent customer service. The MBO has been well planned to continue the further growth of the business. “We have been pleased to support Oliver and his team with a 5-year loan including both a capital repayment holiday and bullet repayment structure to help with the hand over and maximise cash headroom given the current macro-economic uncertainty. “This is an excellent introduction from Jessica Bradbury at CF advisors, Camlee Group.  Thanks to all involved particularly Matt Ingram and team at Squire Patton Boggs.” Jessica Bradbury, of Camlee Group, said: “Andrew and Michelle have built a highly successful business, central to which is its ability to operate in a customer-orientated, flexible and innovative way. It was evident from the start that they greatly value the staff that have helped them to build the business to its present point, particularly Oliver who has played a pivotal role in its development. “An MBO was a clear solution to achieve both parties’ objectives, while preserving the core values that have made the Envii brand so strong in the market. Once the deal was agreed in principle, we approached SME who worked very quickly and collaboratively on a funding offer. We’re delighted to have assisted in delivering the transaction and look forward to seeing the business go from strength to strength in the coming years.”

Family Law Group moves to new premises in Chesterfield

Stuart Pearcey
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Family Law Group moves to new premises in Chesterfield
The Derbyshire branch of Family Law Group has announced a move to Chesterfield’s Hayfield House. In the company’s Chesterfield office Associate Solicitor Johanna Brewer, Solicitor Aimee Booth and SQE Apprentice Stephanie Smart together have substantial experience in divorce proceedings, finance settlements and child contact arrangements, as well as Legal Aid work. They are looking forward to supporting their local community through the new Family Law Group presence in the town. Johanna said: “We’re really excited to be moving to Hayfield House. The building has excellent facilities and will enable us to grow our presence in the local area. “Chesterfield is undergoing a lot of regeneration at the moment, which will transform the town for years to come. We’re excited to be part of that transformation, and our investment shows our belief in the growth of Chesterfield and the surrounding area.” The office space, situated prominently in the heart of Chesterfield will provide the business with a central location to improve the firm’s quality service to clients. Established in 2005, Family Law Group has more than 130 employees across 10 offices in Nottingham, Chesterfield, Milton Keynes, Northampton, Wellingborough, Derby, Loughborough, Peterborough, Bedford and Cambridge.

400 jobs to be lost at Wilko

Tess Egginton
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400 jobs to be lost at Wilko
Nottinghamshire-headquartered retailer Wilko is set to cut 400 jobs as it continues in its attempts to control costs. The roles lost will include assistant store managers, retail supervisors, head office managers and call centre workers, according to reports in The Guardian. Wilko’s CEO said the company had identified significant changes to its operating model to allow the business to stabilise and thrive, including changes to the firm’s management structure at stores and its Worksop HQ. It follows news that the retailer will close its toy departments, focusing instead on selling garden and household goods, and comes after the revelation that 95 Wilko staff in Worksop were at risk of being made redundant as the retailer looked to outsource its customer services. The business agreed a £40m two-year revolving credit facility with Hilco at the start of the year, to allow it to increase financial flexibility as it accelerates plans for turnaround. Wilko’s year-end results showed a drop in sales, while the firm slipped to a pre-tax loss, as the pandemic continued to bite.
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