One in six B2B suppliers are offering their business customers over two months to pay their invoices as a route to securing sales – twice as many who offered such terms in 2020.
That’s the finding in a new joint report from economic consultancy Cebr and lender iwoca, which reveals the number of suppliers offering repayment terms over 60 days to customers has surged from just 7% of suppliers in 2020 to 17% this year.
This comes as more businesses are asking for payment flexibility from their suppliers, says the report. More than eight in 10 suppliers say they have to adjust payment terms for business customers, nearly twice the rate four years ago.
Changes are having to be made to secure sales, as two in three B2B sellers report that offering trade credit increased their number of sales. Three out of four (75%) suppliers offer longer repayment terms for loyal or large customers, or for bigger orders.
On the other side of the deal, nearly half of surveyed business customers reported avoiding using a supplier, or considering doing so, due to short or non-existent payment terms.
The report, called Credit Where It’s Due, says the change is a welcome trend for buyers, outstanding payments in 2024 are more common than they were at the height of the pandemic. Nearly half of UK suppliers serving business customers are now owed in excess of £10,000 from their trade customers, up 13pp from 2020 levels. A third of suppliers are very confident that their invoices will be repaid, but fewer than one in three (29%) are ‘very confident’ in assessing customers’ creditworthiness.
iwocaPay co-Lead Lara Gilman said: “The sector has always talked about payment terms in the context of big corporations trampling over small ones. But since the pandemic it’s clear that across the board, firms – including SMEs – are now calling for flexibility from their suppliers to keep business moving.”
Christopher Breen, Head of Economic Insight at Cebr said: “Trade credit continues to be an important tool in B2B transactions, offering buyers the flexibility to purchase now and pay later. However, it presents challenges for suppliers, such as late payments and the potential accumulation of bad debt.
“Despite these risks, an overwhelming majority of B2B suppliers offer some form of payment terms, recognising the importance of trade credit in securing sales. The already widespread use of trade credit systems presents an opportunity for them to be modernised by the use of digital solutions, which could help both suppliers and customers to navigate these financial pressures effectively.”
Independent financial advisory firm, Dow Schofield Watts (DSW), has tripled the headcount of its Midlands Corporate Finance team, from three to nine, just one year since its launch in September 2023.
In its first year, the Midlands DSW Corporate Finance team has established itself as a key player in the region’s corporate finance market, advising on multiple mid-market deals. Its growth has also led to a recent move into a larger office at The Dock in Leicester’s Space City Enterprise Zone to accommodate its expanding operations.
The team has already completed several notable transactions. In May 2024, the team advised on Bakkavor’s acquisition of Moorish, a well-known premium humous brand, which now sits alongside household names such as Pizza Express, The Delicious Dessert Company, The Pizza Company and Pinch in the FTSE 250 listed business’s portfolio. Notably, this was the team’s first deal.
In July 2024, the team supported Brand K Group, a major UK supplier of radiators and bathroom equipment, on its acquisition of Paladin Radiators, marking the seventh time Harry Walker and Brand K had worked together.
Harry Walker, founding partner of the Midlands DSW Corporate Finance team, said: “Since joining Dow Schofield Watts a year ago, we’ve seen tremendous growth, expanding our team with six new members, including three over the summer, and completing some exciting, high-profile deals with more in the works.
“Our new office in Leicester’s Space City gives us plenty of room for further growth and places us at the heart of a tech-led and innovative community of high growth businesses, reflecting our aim to bring a fresh and innovative approach to dealmaking in the Midlands.”
The office’s growth has been bolstered by the addition of several key hires. Launched by Harry Walker, Fahim Kassam, and Daniel Choucino – who all joined from FRP Corporate Finance – the team has since welcomed Shaf Bheda (partner), Ryan Shields (partner) and most recently Ishan Sharda (executive), Zain Mahmood (manager), and Gurpreet Poonia (manager). The team has also been supported by summer intern Manvir Goutam from Leicester University and executive assistant Nancy Benn.
Shaf Bheda, founding partner of the Midlands DSW Corporate Finance team, added: “We’re thrilled with the success of our first year, firmly establishing DSW as a key player in Midlands dealmaking. Our commitment to the market is clear through significant investments in people, and office move. With a strong pipeline ahead, we’re excited to share more completions soon.
“We’re grateful to everyone who has been part of our journey so far and look forward to building on this momentum as we continue to grow.”
Law firm Freeths, which has offices in Derby, Leicester and Nottingham, has won the coveted title of Law Firm of the Year at this year’s esteemed Legal Business Awards.
Hailed as the ‘most prestigious event in the legal calendar’, the 27th annual Legal Business Awards celebrates the very best in the legal profession. Legal Business is the team behind the Legal 500.
As one of the fastest growing firms in the UK, Freeths’ 2024 Law Firm of the Year success follows consistent double-digit annual revenue growth since 2015. Freeths was recognised by judges for its outstanding organic expansion with six of the firm’s 13 offices achieving annual revenues of more than £10 million.
Commenting on the firm’s success, Karl Jansen, National Managing Partner of Freeths, said: “As a firm, we’re incredibly honoured and proud of this prestigious recognition which certainly reflects the hard work and sheer dedication demonstrated by colleagues across our business over a number of years and not just the last 12 months.
“It’s an incredible achievement for Freeths and truly humbling to be named Law Firm of the Year, and I would like to personally extend a huge thank you to all of our colleagues, and also for the support we’ve received from our clients.”
The newly-formed Leicester and Leicestershire Business Board has held its inaugural meeting.
Senior leaders came together at City Hall on Monday to represent local authorities, business, education, and the third sector.
Board members were welcomed by Chair Andy Reed OBE and Leicester City Mayor Sir Peter Soulsby.
Attendees also received a summary of the role of the Board and its relationship with the Leicester & Leicestershire Business and Skills Partnership (LLBSP).
LLBSP, which formed earlier this year, is led by Leicester City Council and Leicestershire County Council.
The Business Board will include delegates representing:
Leicester City Council
Leicestershire County Council
Federation of Small Businesses
Institute of Directors
East Midlands Chamber
Make UK
Leicestershire Business Voice
Voluntary, community, and social enterprise sector
Higher education sector
Further education sector
Leicestershire district councils
Rutland County Council.
In addition, a series of business leaders have also been invited to join the Board following a recruitment exercise staged over the summer.
Representatives of a host of local employers, including senior figures from companies including Everards and Caterpillar, will also be Board Members.
Speaking after the meeting, Mr Reed said: “There’s been a lot of work completed behind the scenes over recent months to ensure input from business, education, and the third sector continues to be available to local authority leaders as they form growth strategy for our city and county.
“It was great to see that come together at the Business Board meeting and we look forward to supporting the LLBSP and our local authorities over coming months and years.”
The next Business Board meeting will take place in November.
The management team has completed a buyout at workplace consultancy and commercial interior design firm, Blueprint Interiors.
Rachel Biddles and Chloe Sproston have taken ownership of the business, which will see chairman and founder Rob Day take a step towards retirement and his passion for community-led projects for the company.
Operations director Rachel Biddles and creative director Chloe Sproston have been with Blueprint Interiors for 22 and 19 years respectively, having played a significant part in its innovation and growth over the years.
The new ownership marks a new chapter for the Ashby-based business – as it celebrates a record 12 months of trading and secures significant projects with household names in 2025.
Set up by Rob 23 years ago, Blueprint Interiors continue to shape the future of workplace design, meeting the evolving needs of employer and employee.
Rachel Biddles said: “This has been three years in the planning and it’s wonderful to be able to share the news with the industry. While it’s a strategic move, it has felt a natural transition with Chloe and me being in the business for such a long time.
“With a very busy order book and some big projects to announce in the coming months, there is plenty for Chloe and me to deliver and celebrate. This new ownership will enable us to continue to drive forward innovation and quality in workplace design, which is what Blueprint is known for.”
Chloe Sproston, said: “Rob has passionately created a vibrant company with strong ethics and values. His success is significant and he has been a fantastic mentor to Rachel and me.
“We have always had a clear sense of who we are at Blueprint, our expertise, and our desire to provide the best experience for our clients. We love this company and have always treated it as our own, so to now be a co-owner is incredibly rewarding.
“I want to thank Rob for putting his trust in us to take things forward, and the dedicated team who Rachel and I will be working alongside in this next phase of organic growth and expansion.”
Rob Day, said: “As we celebrate 23 years in business and a number of recent talent acquisitions, we now also celebrate this exciting new chapter for Blueprint.
“This has been a long time in the planning and I feel grateful and proud that Chloe and Rachel will now take the business forward. They have been instrumental in creating the company we have today so it couldn’t be in better hands.
“Their commitment to Blueprint along with their ambition, vision and sheer talent, ensure the ongoing success of the company, providing clients with our unique services and nurturing the best team in the business.
“Now is the perfect time to hand the reins over, whilst I’ll remain in my role as chairman and founder, as well as continuing to help drive our community and social value activities. There may also be some sailing on the horizon for me as I relish a little more free time! I wish Chloe, Rachel and the team the very best for the future and look forward to seeing their continued success.”
Oliver MacPhee, private client manager, joins the Nottingham branch of the PKF Smith Cooper tax team as the firm continues their expansion throughout 2024.
With the firm’s plan to double in size before the end of 2029, Oliver is one of 63 new hires the firm has seen this year, with the tax team welcoming 10 new members alone since January.
After obtaining a first-class degree in Accounting and Finance, Oliver completed the ATT in 2019 and went on to achieve the CTA in 2022. He has over seven years’ experience working with a wide range of clients, from directors and shareholders to high-net-worth individuals and trusts, advising them on how to pass on wealth in the most tax efficient manner.
He has a vast amount of experience in tax planning, specifically inheritance tax planning, trust planning and year-end tax planning, as well as HMRC enquiries, tax compliance and reporting.
On joining PKF Smith Cooper, Oliver MacPhee said: “I am excited to be joining PKF Smith Cooper as a private client tax manager within their tax advisory team. The team has already made me feel at home, and I am looking forward to partnering with our clients to address their tax needs with effective and tailored advisory services.
“My focus will be on building meaningful relationships and helping clients confidently manage their tax challenges by providing clear and practical solutions.”
Dean Castledine, private client director, said: “It is great to welcome Oliver to the firm’s growing tax team, and he will bring valuable knowledge and experience to the firm. I look forward to seeing how Oliver will strengthen our team and benefit our clients.”
Multi-disciplinary technical consultancy, MEC Consulting Group has appointed a new associate director to lead its transport planning team.
Chris Heaney joins the firm with 25 years’ experience gained from both public and private sector roles across major development and infrastructure projects in the UK, Ireland and the Channel Islands.
A registered member of both the CIHT (Chartered Institution of Highways & Transportation) and TPS (Transport Planning Society), Chris specialises in transport modelling and development planning, particularly junction modelling, transport assessments, travel plans, environmental impact assessments, and sustainable transport strategy.
At MEC, Chris is based in the Leicester office albeit has plans to launch a second transport team in the firm’s Birmingham office within the next 12-18 months.
“Transport is often a fundamental issue during the planning stage of any development but I enjoy the challenge of supporting applications with robust highways contributions, travel plans, assessments and strategy,” says Chris. “The opportunity to deliver this for MEC’s clients as well as lead and expand the service across the Midlands was too good to miss.”
Chris is currently working on several major residential development projects, including a sustainable urban extension of up to 4,000 homes in Cambridgeshire and Elmsley Heath in Mansfield, which will deliver up to 800 homes.
MEC’s Managing Director, Alex Bennett said: “Chris’ expertise spans the residential, commercial, education and leisure sectors, and he is highly skilled in his field. As demand for new homes continues to accelerate, this specialist service is becoming more sought-after and we therefore needed to increase capacity.
“Having Chris on board means we are now better positioned to support clients and the team has an experienced mentor to learn from.”
The Environment Agency has successfully prosecuted a man for obstructing officers in the course of their duty at a site near Alfreton in Derbyshire.
At Southern Derbyshire Magistrates Court in Derby on 13 September 2024, Darren Lee Fretwell of Golden Valley Caravan Park, Coach Road, Alfreton was fined £2,239. He was also ordered to pay costs of £11,272.
The case against the driver of a lorry which had failed to stop for officers was withdrawn.
Fretwell, who is the landowner of Golden Valley Equestrian Centre and Golden Valley Caravan and Camping Park, admitted 2 charges of obstruction.
The court was told that in August 2023 Environment Agency officers received information that waste was being tipped on land at Golden Valley Equestrian Centre, in Golden Valley near Alfreton.
On 11 August 2023, an unmarked 8-wheel tipper lorry that had deposited waste on site failed to stop when instructed by an Environment Agency officer.
Fretwell had told the driver not to stop and to drive past the officer.
During the same visit, Fretwell also refused to permit excavators which were present at Golden Valley Equestrian Centre to scrape back top layers of soil to examine what had been deposited beneath.
Also on 11 August, Fretwell refused to provide waste transfer notes relating to waste which had been brought onto site when requested by an Environment Agency officer.
On 16 August 2023, the Environment Agency officers returned to Golden Valley Equestrian Centre, at the invitation of Fretwell, to conduct a follow up inspection.
In the course of the visit, officers considered they needed to visit a neighbouring site also owned by Fretwell. This site is known as Wallis Gorse, and is on Long Lane, Golden Valley. After some resistance to this from Fretwell, the officers visited that site.
This is where Fretwell again obstructed officers. He refused to provide waste transfer notes or delivery tickets relating to piles of sand containing shredded tyre rubber which were present.
During visits on both 11 August and 16 August, Fretwell was extremely abusive and hostile towards the officers. On the second visit on 16 August 2023, this behaviour was captured on body worn video, which was played in court.
In mitigation, Fretwell said that he recognised that his behaviour on the 2 dates in question was unacceptable.
Speaking after the hearing, a spokesperson for the Environment Agency said: “This behaviour was totally unacceptable. Officers were carrying out their lawful duties to establish whether the site was acting in accordance with environmental regulations.
“Hostile, abusive or obstructive behaviour such as that demonstrated in this case will not deter us from exercising our powers to protect the environment and communities and ensure a level playing field across the industries we regulate.”
Greg Simpson, founder of Press for Attention PR, delves into the importance of creative photography for press releases.
A wiser man than me (a journalist) once told me: “Greg, when it comes to editorial, I just wish more PR folk would think in pictures.” At first, I did not get this at all. Surely, it’s all about the story? The wordy bit?
Well, yes but think about this. If you are the recipient of the press release, it doesn’t matter how good it is if the accompanying photo is, well, a bit pants. Unless you are indeed selling such garments – in which case, keep it brief! Sorry, I digress.
Or imagine this: you’re standing in front of a buffet table, hungry, with plates of beige food as far as the eye can see. Suddenly, you spot a vibrant, beautifully arranged dish that’s practically screaming your name. Which one are you going to grab first? Exactly.
Press releases are no different. In a world overflowing with bland, text-heavy announcements, a bit of creative photography is like that enticing dish—it grabs attention, pulls people in, and makes them want to learn more. But don’t just take my word for it. Let’s dig into why investing in a little visual flair is key to getting your press release noticed.
Greg Simpson and Mark Futcher
1. Stop the Scroll (or the Toss)
We’ve all been there—eyes glazing over while scanning a mountain of emails or news alerts. A killer image can be your press release’s lifeline, that little jolt of caffeine that wakes up a weary editor. First impressions count, and let’s face it, our words aren’t always enough to get past the initial “meh” factor. A standout photo? That’s your ticket to avoiding the trash folder.
2. Turn Words into a Story
Ever tried explaining something complicated without sounding like a textbook? It’s tough. That’s where creative photography steps in, giving your narrative a visual boost. It’s the “aha!” moment that helps people connect the dots—transforming your press release from a dry report into a story with soul.
3. Journalists Need Love Too
Journalists, like the rest of us, appreciate when you make their lives easier. Give them a press release with a snazzy, relevant image, and suddenly, you’re their new best friend. Why? Because you’ve just saved them time. They’re more likely to pick up your story, and who knows, maybe even give it some prime real estate.
4. Boost Your SEO Mojo
Ah, SEO—the three letters that make us all sound smarter at meetings. But here’s the kicker: press releases with images don’t just look better, they perform better too. Search engines are suckers for visual content, and so are social media platforms. That means more eyeballs, more clicks, and ultimately, more people reading what you’ve got to say.
5. Branding, Darling
You know that feeling when your outfit just clicks, and you feel like you could take on the world? That’s what creative photography does for your brand. Consistent, high-quality images make your brand look sharp, professional, and like you actually know what you’re doing (even on those days when you’re faking it till you make it).
6. Keep Up with the Cool Kids
Let’s face it—nobody wants to be that company still sending out black-and-white press releases in a full-color world. Visual communication is where it’s at, and if you’re not playing the game, you’re going to get left behind. Investing in creative photography ensures you’re keeping up with the times, even if you still secretly use a flip phone.
7. The Gift That Keeps on Giving
Think of creative photography as the PR gift that keeps on giving. Those images aren’t just for one-time use. They can be repurposed for social media, presentations, or even next year’s press release. It’s like finding a pair of jeans that fits just right—you’ll keep reaching for them again and again.
Conclusion
So, in a nutshell, if you want your press release to stand out, get noticed, and actually be read (and who doesn’t?), creative photography isn’t just an add-on—it’s your secret weapon. It’s the difference between blending in with the beige and being the dish everyone can’t wait to dig into. And if you’re anything like me, you’d much rather be the one serving up something that leaves a lasting impression.
PS do I take my own spin doctor medicine? You bet I do. Me on GDPR? That’ll be a picture of me stuffing tins of spam into the Royal Mail chute. Me with a new medical aesthetics client, that’d be me on the treatment table. New South African client? Rugby shirts on, down to the local ground, snap close to 100 shots as we get a ball sailing through the air towards me or flying off his bare foot.
Was it worth the effort? Every single one of those stories got used and shared. Could I have just done a “shaking hands” photo on my phone? Sure, but I won’t because I “think in pictures.”
A former business journalist, Greg Simpson is the author of The Small Business Guide to PR and has been recognised as one of the UK’s top 5 PR consultants, having set up Press for Attention PR in 2008.He has worked for FTSE 100 firms, charities and start-ups and conducted press conferences with Sir Richard Branson and James Caan. His background ensures a deep understanding of every facet of a successful PR campaign – from a journalist’s, client’s, and consultant’s perspective.
See this column in the September issue of East Midlands Business Link Magazine here.
With the shortlist for theEast Midlands Bricks Awards 2024 soon to be announced, secure your tickets to the annual occasion now to celebrate with the region’s property and construction industry while connecting with local decision makers over nibbles and complementary drinks.
The prestigious event, taking place on Thursday 3rd October at Trent Bridge Cricket Ground, from 4:30pm – 7:30pm, will also feature Paul Southby as keynote speaker.
Paul is a partner at Geldards LLP, chair of the Advisory Board to Nottingham Business School, chair of Broadway independent cinema in Nottingham’s Lace Market, and a longstanding trustee of environmental charity Clean Rivers Trust. He is chair of Nottingham Partners, a group of businesses that supports the work of the local inward investment agency, Invest in Nottingham, and a board member and past chair of Marketing Nottingham and Nottinghamshire Limited. Paul is also a former High Sheriff of Nottinghamshire (2022/23).
Tickets can be booked for the glittering awards event here.
Attend to forge new contacts and see who takes home most active agent, commercial development of the year, responsible business of the year, residential development of the year, developer of the year, deal of the year, architects of the year, excellence in design, sustainable development of the year, contractor of the year, and overall winner.
The overall winner of the East Midlands Bricks Awards 2024, sponsored by Blueprint Interiors, will also be awarded a grand prize – a year of marketing/publicity with Business Link worth £20,000.
Chloe Sproston, Creative Director at Blueprint Interiors, shared: “We’ve been involved in the awards since 2019 either as an award nominee or a sponsor. We continue to be impressed with both the quality of award submissions, but also the event, which attracts the elite of our region’s construction and property professionals.
“This year, we’re particularly excited to sponsor the overall winner category, further demonstrating our commitment to showcasing the very best talent in the region’s property and construction industry.”
East Midlands Bricks Awards 2024When: Thursday 3rd October 2024, 4:30pm – 7:30pm
Where: The Derek Randall Suite, Trent Bridge Cricket Ground
Keynote speaker: Paul Southby, chair of Nottingham Partners, board member of Marketing Nottingham and Nottinghamshire, partner at Geldards LLP, chair of the Advisory Board to Nottingham Business School, chair of Broadway independent cinema, trustee of Clean Rivers Trust, and former High Sheriff of Nottinghamshire
Dress code: Standard business attire
Tickets: Available at https://www.eventbrite.co.uk/e/east-midlands-bricks-awards-2024-tickets-902294566337?aff=oddtdtcreator
Don’t miss this opportunity to connect with property and construction professionals while applauding the outstanding companies and projects in the region.
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