It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.  It has become something of a tradition, given that we’ve been doing this now for over 30 years. Here we speak to Russell Rigby, Managing Director of commercial property specialists Rigby & Co. Two major constraints that had a serious impact on property and development confidence in 2023 should be lifted in the next 12 months. The post-Truss wobble impacted directly on finance and borrowing costs for construction and development, and it must be sensible now for rates to move down, as we go through the New Year. In tandem, we should get some political stability post-Election which will hopefully inject further confidence into both the private sector and public sector finances during the second half of the year. The property asset class to watch in the next 12 months remains the shift from grey and conventional offices into exciting flex and hybrid space. Demand for flex offices is forecast to grow between 25% and 30% per annum with particular emphasis on strong regional centres such as Nottingham, Leicester and Derby. Encouraging greater numbers of economically active people to move back into the workplaces they want to use in those towns and city centres will then help inject vibrancy and confidence back into many of our key high streets, as those streets jostle for re-invention.

In business, staying ahead means staying updated with technological advancements. As businesses in the East Midlands, it is vital to recognise how these changes directly impact your operations and growth opportunities. Technology is not just about the latest gadgets; it is a crucial driver for efficiency, innovation, and customer satisfaction. Whether you are running a small enterprise or a large corporation, the adoption of new tech can revolutionise the way you operate. It is about keeping pace with competitors, setting new standards and exceeding customer expectations. Your business’s ability to adapt to these technological shifts will play a pivotal role in shaping its future success in the East Midlands and beyond. The digital transformation in the East Midlands The digital age has revolutionised the way your business operates, offering new opportunities to streamline processes and connect with your customers. In the East Midlands, the adoption of digital technology is not just a trend; it’s become a necessity for maintaining a competitive edge. Your approach to digital transformation can redefine customer experiences, making interactions more efficient and personalised. Imagine a world where your customer service is not just reactive, but proactive, predicting customer needs before they even arise. This digital shift also offers opportunities to optimise internal operations. Tools that analyse data in real time can inform your decision-making, ensuring that your business stays ahead of market trends. It is about creating an ecosystem where every part of your business communicates seamlessly, reducing operational costs and improving productivity. The digital landscape opens up new channels for marketing and sales. Your ability to engage customers online, through tailored content and interactive platforms, can elevate your brand’s presence and drive growth. As East Midlands businesses continue to explore these new technological avenues, the focus is on how digital tools can enhance both customer engagement and operational efficiency. This is not just an era of technological adoption, it is an era of digital integration; shaping the future of your business. Boosting logistical efficiency and reducing carbon footprint In the world of logistics and transportation, staying ahead means optimising every aspect of your operations. GPS fleet management is a key area where technology is making a significant difference. Advanced GPS fleet tracking systems are now a cornerstone for businesses, helping to achieve logistical efficiencies that were once out of reach. Imagine having the ability to track your fleet in real-time, gaining insights into vehicle locations, routes, and driver behaviour. This level of oversight enables your business to make informed decisions that streamline routes, reduce idle times, and improve overall fleet efficiency. The benefits extend beyond mere operational improvements; they contribute significantly to reducing your carbon footprint. By optimising routes, you not only save on fuel costs but also contribute to a greener environment, a concern that resonates deeply across the East Midlands and beyond. Incorporating GPS fleet tracking into your business model doesn’t just enhance operational efficiency. It represents a commitment to sustainability and responsible business practices. Tools like these become invaluable as we continue to seek ways to reduce environmental impact. Consider exploring options here for more insights on how GPS fleet tracking systems can benefit your business. Sustainable technology practices for businesses Your business in the East Midlands has the power to make a real difference in the community by adopting sustainable technology practices. This commitment goes beyond just following trends. It is about making impactful decisions that benefit your business and the environment. By incorporating eco-friendly technologies, you are not just reducing your carbon footprint but also setting a standard for others to follow. Consider how renewable energy sources can be integrated into your operations. Solar panels or wind turbines, for example, can significantly reduce reliance on non-renewable energy, cutting costs and emissions. Moreover, adopting green practices can enhance your brand’s reputation among environmentally conscious consumers. Sustainability also means efficient use of resources. Technologies that promote recycling and reduce waste contribute to a healthier environment and can also lead to cost savings. Your efforts in sustainable practices are good for the planet; they resonate with your customers and the wider community. By showing that your business cares about its environmental impact, you create a positive image that attracts like-minded clients and partners. As businesses across the East Midlands move towards greener solutions, your role in this shift can make a lasting impact.   Your journey through digital transformation is not just about adopting new technologies. From enhancing operational efficiency to embracing sustainable practices, each step you take towards technological integration speaks volumes about your commitment to progress and responsibility. This path sets your business apart and contributes positively to the wider community. Your efforts to stay ahead in this technologically driven market will define the future success of your business in the vibrant and dynamic East Midlands business landscape.

It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.  It has become something of a tradition, given that we’ve been doing this now for over 30 years. Here we speak to Adam Gilbert of AG Corporate Law. Clients that we speak to continue to report increased cost pressures and supply chain issues regardless of sector. They do however remain quietly optimistic. Whilst inflation has eased from the highs we saw in the early part of last year, suppliers continue to try and pass on higher costs which ultimately results in either reduced profits or those costs being passed to the end customer. With the current issues regarding shipping in the Red Sea, my clients that rely on products and/or raw materials from the Far East look set to continue to experience those challenges throughout 2024. Despite the above and the habit of many commentators to focus on the “doom and gloom,” with a tendency to almost talk the market and economy into a self-fulfilling prophecy, M&A activity remains strong in the East Midlands and more widely. Much of the negativity in 2023 about the state of the economy did not play out. Retirement sales dominate our workload at AG Corporate Law, and we continue to see management teams stepping up and agreeing deals to take businesses forward. I don’t see this changing in 2024. The needs of a seller to “get out” present opportunities for those management teams or competitors and which tend to outweigh other factors or timing issues. I continue to see price expectations (on both buy and sell sides) cooling and resetting to more sensible levels but ultimately good businesses will always sell regardless of the market.

It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.  It has become something of a tradition, given that we’ve been doing this now for over 30 years. Here we speak to Wells McFarlane’s Directors: Jason Hercock, Andrew McFarlane Holt, and Trevor Wells. Offices – Jason Hercock I expect the office market to get progressively better in 2024. The gradual take-up of stock is likely to continue as interest rates stabilise, especially as most businesses now seem to have recalibrated their working practices post-Covid and identified long-term requirements. Offices in popular locations such as market towns and semi-rural business parks are the most desirable, and this is where most activity is happening. Well-advised landlords, with properties that are modern, energy efficient, well-connected and with somewhere to park, are capturing tenants and this is where the market has migrated. Those with draughty, cellular layouts and low EPC ratings will stagnate if not upgraded so we’re advising landlords of these properties to seek urgent advice from your agent about how best to market. Industrial – Andrew McFarlane Holt There is a significant supply/demand imbalance that I don’t see correcting itself quickly in 2024. Smaller industrial units are highly sought after; for every unit we have available at this end of the market we could probably let multiple times over. Unfortunately speculative development isn’t the answer alone. The sector needs urgent local or government intervention to free up the planning process to facilitate further development in this sector and the wider commercial property market. Land, Planning & Development – Trevor Wells One of the main considerations for 2024 is the mandatory requirement that from January, all new housing, commercial and infrastructure developments are required to deliver 10% Biodiversity Net Gain (BNG), resulting in more or better quality natural habitats than pre-development. These must also be maintained for at least 30 years. Now, not all BNG gains will be able to be made on-site, so there are options for developers to buy off-site units or credits to compile the 10%. Through our sister company, The Habitat Bank, we’re working with landowners and developers to facilitate this process and expect this to be a major shift in how development is planned and delivered. With farming incomes suffering from the loss of BPS payments, and the introduction of delinked payments at a reducing rate, opportunities for landowners to use suitable land as a Habitat Bank site may offer much-needed additional revenue. We hope that government guidance on Agricultural Property Relief and general taxation for Habitat Bank sites will be positive so landowners can plan ahead. It looks to be an interesting time!