The East Midlands’ unemployment rate is now the second-lowest in the country after dipping below 3% for the first time on record.
It was 2.8% for the period between December 2021 and February 2022 – a full percentage point below the national average and only higher than Northern Ireland (2.5%), according to the Office for National Statistics’ (ONS) regional labour market figures.
However, the region’s 21.7% economic inactivity rate – which measures the proportion of 16 to 64-year-olds who have exited the labour market for reasons such as retirement, caring duties, long-term ill health or studying – was 1.8 percentage points higher than a year earlier and above the 21.4% national average.
Nationally, the ONS said there were as many vacancies (1.3 million) as unemployed people, while it also reported that inflation shot up to 7% in March, the highest point since March 1992.
East Midlands Chamber Chief Executive Scott Knowles said: “At first glance, the unemployment rate falling for the fourth month in succession to hit yet another record low is hugely positive for the region’s labour force. It is largely testament to the success of our businesses in steering a strong rebound for our local economy as they got back to what they do best once Covid-19 restrictions were repealed.
“However, these figures disguise a historic hiring crunch facing many of our companies. The Chamber’s latest Quarterly Economic Survey showed that while 63%* of East Midlands businesses attempted to recruit in the first quarter of 2022, four in five (80%) of this cohort encountered problems with filling vacancies.
“Nationally, there are 600,000 more working-age people who have left the workforce than at the beginning of the pandemic. While one suggested remedy may be to coax them back with higher wages and benefits, employers are already hamstrung by an escalating cost of doing business crisis as a result of spiralling inflation, energy prices and staffing costs.
“Two-thirds (67%*) of East Midlands businesses expect they will now be forced to raise prices in the next three months. This impacts consumers, employees and their ability to invest in productivity gains, which is particularly crucial for the 37%* of our region’s firms that say they are at full operational capacity.
“With the economic recovery now on a knife-edge – as illustrated by growth slowing to 0.1% in February – it’s imperative the Government does more to help people access retraining opportunities for in-demand jobs. Introducing a new skills tax credit would also incentivise employers to invest in training for workers.”
Robertson Bell, a professional services recruitment agency for the public and not for profit sectors, has been sold to an Employee Ownership Trust (EOT).
The news, which marks Robertson Bell’s 15th anniversary, comes in light of the company’s best ever trading year, despite troubles for the charity sector caused by the pandemic. Founded by CEO Stuart Bell in 2007, the company faced the prospect of surviving a recession in its early years but navigated this – and recent – turbulent market conditions to achieve year on year growth throughout its 15 year history. Reaffirming his ambition for further growth, the move to sell to an EOT is aimed at building a legacy for the employees who will be creating the company’s future successes.
Introduced in the Finance Act 2014, EOTs allow shares to be held on behalf of a company’s employees. Robertson Bell EOT Limited will facilitate employee ownership of Robertson Bell, ensuring they are the ones to benefit from company profits and the continued growth of the business. Employees become eligible to be beneficiaries of the trust after 12 months of service.
Stuart Bell says: “Having spent 15 years building a business, one that is continually evolving and adapting to the ever-changing needs of the organisations it helps, the time has come to transfer ownership to the those who have made Robertson Bell the success it has been; its people. Through an EOT we can empower staff with the knowledge that they will be the ones to benefit as the company continues to flourish.”
Robertson Bell has grown into a team of 35.
Stuart continues: “This company hasn’t been built by experienced people; it has been built brick by brick by people starting as trainees. With that has come deep-rooted values of being down to earth and I am conscious of protecting this grounding, culture, and emphasis on our people. While I will remain CEO, this is a unique opportunity for those people to take on more responsibility and leadership. It has real potential to change their lives.”
Sales are up at Dunelm Group, the Leicestershire-based homewares retailer, according to a trading update for its third quarter, the 13-week period ended 26 March 2022.
Total sales of £399m were up 69%, significantly higher than the same period in FY21 when Dunelm’s store estate was closed to customers and only Click & Collect and home delivery services were available.
Third quarter sales were 40% higher than Q3 FY20, though the company noted that the final three weeks in that quarter were impacted by the beginning of the Covid pandemic. Excluding those final three weeks, total sales for the first 10 weeks of Q3 FY22 were up 31% compared to the same period in FY20.
Year-to-date total sales meanwhile were up 37% on a year-on-two-year basis, with continued strong growth in store sales and digital sales being more than double the level of two years ago.
Dunelm’s new furniture fulfilment hub in Daventry became fully operational during the quarter.
Nick Wilkinson, Chief Executive Officer, said: “It has been another good quarter for Dunelm with sustained growth across all of our homewares categories, particularly as customers ready their homes and gardens for the summer.
“Performance has been strong across all channels and our new facilities for e-commerce and furniture fulfilment are now fully operational, which will enhance our multi-channel proposition, whilst providing the capacity for further growth.
“Whilst the macro environment remains uncertain, with significant headwinds and increasing pressures on the consumer, our wide product range offers choice for every budget, whether replacing everyday essential items or refreshing a room in your home.
“The resilience of the Dunelm business model and the ability of our colleagues to adapt quickly to changing circumstances give us confidence in our plans and we remain well placed to continue to grow market share.”
Nottingham-based automotive tech specialist, In Phase International Group (In Phase International), has announced a major boost to their apprenticeship programme.
Six new apprentices have joined the business, which was established in 2001 and is home to a range of automotive technology pioneers, including the Road Angel and Snooper brands.
The apprentices – Dylan Duke, Stefan Makengo, Ned Walker, Phoebe Stott, Kristen Smith and Curtis Knight – will work across all functions of the group, from marketing and sales to design, engineering, customer service and technical support.
Gary Digva, sales director at In Phase International said: “This is a massive year for us as a group. We are celebrating our 21st anniversary of business and we have come a long way since then. Our brands are household names and we also have a selection of other related businesses that stand alone but also dovetail perfectly with the other group businesses.
“We are steeped in technology and innovation but none of that is possible without talented team members. Whilst we reflect on a highly successful 21 years, we also recognise that we need to invest in the future. That is why we have bolstered our apprenticeship programme this year.
“In Phase International is an exciting Nottingham-based business with a national and increasingly international customer base. The whole team and I look forward to working with our apprentices to help them forge their careers with us and in the technology and manufacturing sectors of the future.”
UK astronaut Tim Peake officially opened Leicester’s pioneering space research, innovation and teaching cluster at a special ceremony.
Space Park Leicester is forecast to contribute £750m a year to the UK space sector over the next decade and is expected to support more than 2,500 direct and indirect jobs in the East Midlands.
British astronaut Tim Peake
The first British European Space Agency (ESA) astronaut to visit the International Space Station (ISS) declared Space Park Leicester open in the company of Leicester City Mayor, Sir Peter Soulsby, University of Leicester Vice-Chancellor, Professor Nishan Canagarajah, plus scientists, researchers, and representatives from the local community.
Speaking at the opening ceremony, passionate Science, Technology, Engineering and Mathematics (STEM) advocate Tim Peake said: “Leicester has long been a key location for the UK’s space sector, and it is a real privilege to formally open Space Park Leicester just a short distance away from the National Space Centre.
“Every successful space mission call for experts from a wide range of backgrounds to pull together and collaborate to answer bigger questions: and that’s exactly what somewhere like Space Park Leicester helps to provide.
“I’m also excited to see this project highlighting the exciting careers available within the space sector and helping to train, educate and inspire our future generations.”
Tim, who travelled to the ISS in 2015, was given a tour of the state-of-the-art facilities by Space Park Leicester Executive Director, Professor Richard Ambrosi, and also took part in a series of schools activities.
Developed by the University of Leicester in collaboration with local, national and international partners, the 9,700m2 building provides an inspirational base for space researchers and business minds to collaboratively work together from offices, shared laboratories, teaching facilities and co-working spaces.
The project builds on the University of Leicester’s 61-year history of space research and its role in establishing the neighbouring National Space Centre, and places Leicester at the forefront of space technology in the UK.
Professor Richard Ambrosi, Executive Director of Space Park Leicester, said: “We are delighted that Space Park Leicester, even before today’s formal opening, has already shown itself to be the ideal launchpad for cutting-edge space science research and enterprise.
“By hosting forward-thinking University researchers and high-end technology businesses under one roof, Space Park Leicester enables accelerated collaboration on some of the biggest questions of our time: not least the climate crisis.
“Space, by its very nature, feels very far away from our everyday lives here on Earth, but the work undertaken here has the potential to transform almost every aspect of society, from healthcare to the technology in our mobile phones.”
Award-winning Space Park Leicester houses laboratories, workshops and calibration facilities along with high tech projects such as the pioneering double-walled insulator for the Mars Sample Return 2026 NASA-ESA Mission as well as one of the UK’s largest academic clean rooms for the assembling and testing of space equipment. Other workshops allow researcher to expand work in machine learning and Artificial Intelligence (AI), while engineers have access to a dedicated drone lab.
Space Park Leicester also proudly hosts the headquarters of the NERC-affiliated National Centre for Earth Observation (NCEO).
To date organisations joining space, climate and Earth observation scientists include: nuclear propulsion experts Rolls-Royce; AST SpaceMobile, developers of the first space-based cellular broadband network for mobile phones; Satellite Applications Catapult, a government-backed technology and innovation company; and air quality specialists EarthSense.
The project’s ambition to become a world-leading centre of excellence has also been recognised with the prestigious ‘Place-Based Initiative of the Year’ accolade at the 2021 KE Awards.
Professor Nishan Canagarajah, President and Vice-Chancellor of the University of Leicester, said: “We are extremely proud to formally launch Space Park Leicester, and wish to thank Tim Peake for being part of this momentous occasion.
“Our University has a long-established track record of space research over the last six decades and, through the facilities provided here in collaboration with our local, national and international partners, we have well and truly placed Leicester on the map as a key cluster in the UK space sector.
“It is also fitting that we can reflect on our space heritage in this, our Centenary year, as Space Park Leicester gears up to work on technologies for use far into our second Century.”
Leicester City Mayor Sir Peter Soulsby added: “The development of this world-class facility has been made possible thanks to an outstanding partnership approach that has seen the University of Leicester working with the city council, the LLEP, the National Space Centre, Midlands Engine and others to transform immense ambition and vision into reality.
“It is already bringing together the best academic and business minds to stimulate innovation and growth, and further paves the way for an exciting future that will reinforce Leicester’s reputation as the UK’s Space City.”
Space Park Leicester is led by the University of Leicester in partnership with Leicester City Council and the Leicester and Leicestershire Enterprise Partnership (LLEP).
Phase one development at Space Park Leicester is supported by an £8.175m allocation from the Local Growth Fund, part of government funding awarded to the Leicester and Leicestershire Enterprise Partnership (LLEP) for projects that benefit the local area and economy.
Future plans include further development on the Leicester site, with a commercial Low Cost Access to Space (LoCAS) payload and satellite manufacturing facility for the manufacture of small to mid-range satellites.
Vertu Motors, the automotive retailer with a network of 159 sales and aftersales outlets, has purchased the freehold and long leasehold interests in its multi-franchise site in Derby.
The group has operated the 5.5-acre Derby multi-site since September 2012, when the trade and assets of the dealerships were acquired from Co-operative Group Motors Limited. A lease on the premises was granted to the group at the time of this purchase, with this lease due to expire in February 2026.
There are four separate buildings on the site, currently representing the Nissan, Skoda, Renault & Dacia and Peugeot franchises, along with a standalone Bristol Street Motornation used vehicle outlet. The purchase of the freehold and long leasehold interests secures the long-term future of this strategically important location for the group.
The purchase completed on 6 April 2022 for consideration of £7.1m, plus fees.
Robert Forrester, Chief Executive of Vertu Motors, said: “I am delighted to have secured the long-term interest in this important location for the group. The five successful sales outlets located here make a positive contribution to group performance and are a significant part of Bristol Street Motors representation in the East Midlands.”
Chesterfield is set to capitalise on the ‘flight to prime’ trend by businesses looking for high quality office space in the aftermath of COVID-19, with the launch of a brand-new digital marketing campaign.
With 81% of UK businesses agreeing they need to implement a new workplace strategy, following the lockdown-induced Work From Home movement, Chesterfield’s new campaign aims to prove it has the space to suit office requirements in the town as well as offering a central location and excellent road and rail links.
The new office campaign aims to reach national businesses looking for regional satellite office space as well as local start-ups and established businesses looking to expand.
The campaign, which is part-funded by the European Regional Development Fund, has been developed by Destination Chesterfield is partnership with Chesterfield Borough Council and Derbyshire Economic Partnership.
Chesterfield newest office developments, One Waterside Place and The Enterprise Centre both feature in the new campaign. Due to be completed later this year, they bring more than 100,000 sq ft of additional office space to Chesterfield’s offering.
The Government’s work from home advice was lifted on Thursday 27 January in England after being in place for nearly two years. With many organisations expected to adopt a work from home/office hybrid approach, demand has increased for flexible, modern large floor plate working space which is easily adaptable and has Covid measures in place.
Launching the campaign, which has been designed by digital agency Defeye Creative, Dom Stevens Destination Chesterfield Manager said: “Progress on the new office developments continued throughout the pandemic and this has put Chesterfield in an excellent position to capitalise on the changing demands for office space post Covid.
“People have been exposed to new ways of working, prompting companies of all sizes and sectors to completely rethink their workplace needs. People now want more choice in how, when and where they work, and we can meet this demand in Chesterfield.”
“With the new office developments at Waterside, the Enterprise Centre and The Glass Yard, alongside existing office provision, Chesterfield can now cater for businesses at every stage of their life cycle – from incubation stage to maturity.”
Councillor Tricia Gilby, Leader of Chesterfield Borough Council, added: “Chesterfield is a fantastic option for businesses whether they are looking to start, relocate or grow. We have a strong community, a skilled workforce, fantastic transport connections and a bright future. We’ve seen recently that the quality of life particularly for young families is unmatched and together all these factors show that Chesterfield is open for business. We are in an excellent position to recover from the pandemic and welcome new businesses and residents to our borough.”
FHP Property Consultants are delighted to confirm the letting of Unit 3 at Waterside in Nottingham to F45 Training. This exciting international brand which is endorsed by celebrities such as David Beckham and Mark Wahlberg has chosen the iconic Waterside building on Trent Bridge for the Nottingham venture.
Waterside is perfectly located close to West Bridgford and Nottingham city centre to make the most of a strong catchment. The unit provides accommodation over ground floor measuring approximately 2,000ft². It is a hugely prominent unit fronting Trent Bridge which has a daily traffic flow of over 40,000 vehicles. The unit is part of the award winning Waterside residential development which comprises 120 high specification apartments and it sits next door to the popular Waterside Bar & Kitchen.
FHP acted on behalf of private landlord clients working jointly with HEB in order to secure the letting.
Oliver Marshall, Associate Director at FHP Property consultants comments:“This is a superb result for this unit and one that will bring an exciting new international concept to the building and to Nottingham. The F45 brand is extremely popular and I wish Harry and Jorja the best success with their exciting journey ahead. The location is ideally suited to them and have committed to a long term lease on the ground floor unit.”
Harry Calver at F45 Nottingham comments:-We are so pleased to have finally received the keys for the unit. After a couple of false starts with other properties, we feel like this is the perfect location for us to launch F45 in Nottingham. We are already underway with our fit out and look forward to welcoming members in the next few weeks with a planned opening in Summer. Despite some difficult situations, Oliver at FHP was great to deal with throughout.”
Manufacturers are having a difficult time of it of late and figures from the Society of Motor Manufacturers and Traders (SMMT) show that the automotive industry is not immune to the problem.
Despite March normally being a bumper year due to new car registrations, the industry saw the weakest sales since March 1998, with new car sales slumping to 243,479 units, a drop of 14.3%.
Manufacturers had reported robust order books during the first quarter, but ongoing supply chain shortages continued to squeeze supply during what is normally the industry’s busiest month as buyers demand the latest numberplate.
This is, therefore, the weakest March since 1998, which was prior to the introduction of the two-plate system. Given around 20% of total annual registrations are usually recorded in March, the result is massively disappointing for the sector and underscores the long-term impact the pandemic is wreaking on the industry. In spite of the rollback of pandemic restrictions, which limited the industry to ‘click and collect’ in the first part of 2021, overall Q1 registrations for 2022 were down -1.9%.
Richard Peberdy, UK Head of Automotive, for KPMG comments : “It was widely anticipated that the automotive sector would take most of 2022 to sufficiently increase component capacity and put an end to the supply shortages that have limited car production during the pandemic.
But the implications of war in Ukraine and heightened restrictions in China add further complexity and exacerbate this challenge.
“Whilst supply shortages persist, production volumes will remain lower than pre-pandemic, and car makers will continue to focus on higher margin models, as well as the electric vehicles market.
Up until now, this has kept forecourt sales relatively healthy, and also driven up prices of used cars. But the rising cost of living poses significant questions about whether consumers will delay, or even curtail, larger investments, such as on a car. The coming months will tell.”
Mike Hawes, SMMT Chief Executive, says, “March is typically the biggest month of the year for the new car market, so this performance is deeply disappointing and lays bare the challenges ahead. While demand remains robust, this decline illustrates the severity of the global semiconductor shortage, as manufacturers strive to deliver the latest, lowest emission vehicles to eagerly awaiting customers.
Placing orders now will be beneficial for those looking to take advantage of incentives and lower running costs for electric vehicles, especially as the Ukraine crisis could affect supply still further. With increasing household and business costs, government must do all it can to support consumers so that the growth of electric vehicles can be sustained and the UK’s ambitious net zero timetable delivered.”
Only two weeks remain until the Property & Business Investment Lincolnshire Expo, so if you haven’t yet registered for the free event, now is the ideal time.
The highly anticipated expo, for which Business Link is a proud partner, will take place on Wednesday 27 April 2022 at The Bentley Hotel, Lincoln, providing everything you require for a great day of networking and business generation.
A well targeted event aimed at the Construction, Property, Business, Investment, Finance, Professional Services and related B2B markets, exhibitors include Aspbury Planning Ltd, Belvoir, Business Lincolnshire, BSP Consulting, Delta Simons, the Federation of Small Businesses, J Tomlinson, NatWest, Willmott Dixon, and YMD Boon, to name a few.
To see the full list of who is exhibiting click here.
Opening at 9am, the expo will also host a workshop from Team Lincolnshire and Business Lincolnshire. Running from 10:15 – 11:45, it will demystify the procurement process and explore the potential which public sector contracts could bring to your business.
Team Lincolnshire ambassador Neal Wheatley, director and general manager of RG Carter Lincoln Limited, and Barry Taylor, regional director at Parker Technical Service, will be sharing insightful first-hand experiences on winning a major Lincolnshire County Council contract for the construction of the South Lincolnshire Food Enterprise Zone and how supporting the local economy is a core value within the RG Carter Supply Chain Commitment.
Sign up to the free workshop here.
As the exhibition closes, it will roll directly into an informal, open buffet style network lunch – tickets for the lunch are just £25 plus vat and can be ordered and paid for directly online. Spaces for the lunch are limited, so order as soon as possible to avoid disappointment.
Tina King, of Business Shows Group, said: “It’s been a long time in the making thanks to the pandemic, but we are finally nearly there, The Property & Business Investment Lincolnshire Expo is gearing up to be one of the best to date!”
To attend the event, register for free here.To generate opportunities by exhibiting at the event, click here.Purchase tickets to the networking lunch here.
Meet more potential clients in one amazing cost effective day, than it would take months out on the road.
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