A new incubation programme for entrepreneurs in Northamptonshire has unveiled its first cohort of participants. Vulcan Creatives, a free, six-month programme run by the team at the Vulcan Works flexible workspace in Northampton, aims to support ambitious individuals with their business idea by creating a business plan and teaching the skills needed to make it a success. The programme opened for applications in November and these were whittled down to ten businesses with a preference given to those working in the creative or digital sector – emerging industries in the county that Vulcan Works was created to support. The chosen entrepreneurs were revealed during an official launch event at Vulcan Works on Tuesday 16th January. They include: · Nabil Abbas, who has developed a decentralised instant messaging app. · Emma Colton, a photographer who plans to empower female business owners through her photography. · Chelsea Henry, an interior designer who makes her services more flexible and affordable by guiding her clients to do the installation work themselves. · Tamara Holland, a marketeer who wants to help children’s activity providers to better market their products and services to parents. · Mathew Lewis, a musician who wants to develop his band, Party Beats, into a collective, ‘Pick and Mix’ option that enables clients to create their own band from a group of musicians for their events. · Roddy-Lloyd Jones, a retired teacher who has created a portable photography studio in a decommissioned ambulance. · Tom Mayes, who has set up his own digital marketing agency specialising in Facebook advertising for aesthetic clinics. · Gary Morgan, who plans to set up his own AI (artificial intelligence) assistant tool to help small to medium-sized businesses with their customer service, lead management and appointment setting. · Gavin Prior, who is working with businesses as a consultant to help them to prototype their virtual reality and augmented reality ideas and turn them into apps. · Hairdresser Aprille Russell and make-up artist Aveline Rust, a duo who have created a hair and beauty academy after being ‘burned’ by other courses in their industry. Aprille and Aveline have devised a four-month programme that offers hair and beauty qualifications as well as training in business skills such as sales and accounting. Vulcan Creatives has been funded by West Northamptonshire Council and has received £40,000 from the UK Government through the UK Shared Prosperity Fund (UKSPF). It will be led by Vulcan Works’ on-site business growth manager, Darren Smith, an entrepreneur who has started and sold businesses and worked in mentoring roles over the last 20 years. Those who take part in Vulcan Creatives will also receive free access to the Vulcan Works facilities during the course of the programme and up to 50% off workspace in the building after graduating. Darren said: “I look forward to working with this cohort of entrepreneurs over the next six months to really boost their businesses or get them up and running. This will be done through one-to-one sessions, regular huddle meetings of the whole cohort, as well as events and workshops. “We also have some great partners on board, such as Natwest and EMW, who will be sharing their knowledge with the participants too. We want Vulcan Creatives to become a real community and collaborative effort as we all embark on this journey together towards success.” Cllr Daniel Lister, Cabinet Member for Economic Development, Town Centre Regeneration and Growth at West Northamptonshire Council, added: “It is great news that vital funding from our UKSPF has been utilised to support Vulcan Creatives, which will expand on the brilliant work already being delivered at Vulcan Works to help local businesses. “We have 20,000 businesses in West Northamptonshire and 425,000 residents and there is unlimited potential for businesses in this area. This is why we have already invested over £2 million into supporting local business and £1.5 million into getting local people and skills in the area through our UKSPF. “We want to see businesses thrive and our Economic Growth and Inward Investment Team want to support them in doing this. I’m really excited to see the businesses taking part in Vulcan Creatives and look forward to seeing them grow and develop and become the medium and large-sized companies of the future in West Northamptonshire.”

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 James Pinchbeck, Partner at Streets Chartered Accountants. As we step into the new year, 2024 holds a plethora of uncertainties and opportunities for the East Midlands business community. The East Midlands, a hub of innovation and economic activity, will undoubtedly be influenced by several key factors in the coming year. Here are my predictions for what lies ahead: 1. Technical Innovation and AI: The East Midlands has been a breeding ground for technological innovation, and 2024 will be no different. We can expect to see continued growth in AI and artificial intelligence applications across various industries. Local businesses should leverage these technologies to enhance productivity and remain competitive on a global scale. 2. General Election: The possibility of a general election looms on the horizon, bringing potential policy changes that could impact businesses. It’s crucial for East Midlands businesses to stay engaged and informed about political developments to adapt to any regulatory shifts that may occur. 3. Economic Slowdown: While the region has shown resilience in the face of economic challenges, there is a possibility of an economic slowdown in 2024. Certainly, consumers are still feeling a squeeze on disposable incomes. In light of this businesses should prepare for this by focusing on efficiency, cost-cutting, and diversifying revenue streams. 4. Geopolitical Uncertainty: Continued geopolitical tensions around the world may have repercussions for businesses in the East Midlands. Diversifying supply chains, assessing geopolitical risks, and staying flexible will be key strategies for mitigating potential disruptions. 5. US Elections: The outcome of the US elections, as well as changes in US policies, can have a ripple effect on the global economy. East Midlands businesses with international ties should closely monitor and adapt to any developments in the US. 6. Environmental Challenges: Weather-related environmental issues are becoming increasingly prevalent. East Midlands businesses should prioritize sustainability, resilience, and disaster preparedness to address the challenges posed by extreme weather events and environmental regulations. In conclusion, 2024 is poised to be a year of both challenges and opportunities for businesses in the East Midlands. Embracing technological innovation, staying politically aware, preparing for economic shifts, and addressing environmental concerns will be essential for success in the region’s dynamic business landscape. By staying adaptable and forward-thinking, East Midlands businesses can navigate the uncertainties of 2024 with confidence and resilience.

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 Rob Woolston, director at multi-disciplinary design practice, rg+p Ltd. Residential development has seen a turbulent period over the last 18 months. The bubble of positivity post-Covid was dissipated by the issues of high inflation and ‘Truss’ economics, leading to significant headwinds across the residential market. I’m hopeful these will begin to ease in 2024, with inflation continuing to fall and therefore the real likelihood of interest rates beginning to come back down too. Whilst this won’t happen with any speed, confidence among private residential and later living developers can start to re-build with the knowledge things are heading in the right direction. Of course, there are still challenges to overcome. Price pressures and a stubborn land market will leave the affordable housing sector difficult to navigate; construction material prices will present viability issues; and not forgetting the changes to Building Regulations and upcoming Future Homes Standard and Building Safety Act that will affect almost every project and should not be underestimated. Our technical director has invested considerable time interpreting these and we’re strongly advising clients to plan time to consult on the implications. The big hurdle next year will be the general election and potential change of government. While this is shaped and a new financial environment emerges, we expect funding decisions to be delayed and this will particularly impact Built-to-Rent development, where we don’t anticipate much growth until 2025. Despite this, I still believe the property and built environment sector has reason to be cautiously optimistic, and even positive going into 2024.