- Dr Nicola Lynch – Head of Business School, University of Derby
- Claire Knee – Global Community and Social Impact Lead, Ideagen
- Hafsa Mitha – Philanthropy Executive, Community Foundation Leicestershire and Rutland
- Kirsty Yates – Housing Operations Manager, Futures Housing Group
- Sophie Harding – Community Engagement Project Delivery Manager, Futures Housing Group
- Dr Barbara Tomasella – University of Derby
- Dr Elaine Conway – Loughborough University
- Stuart Dawkins – President, East Midlands Chamber
East Midlands businesses engage with region’s charities at summit
Businesses, charities and speakers gathered at East Midlands Chamber’s Corporate and Social Responsibility (CSR) summit at the University of Derby on 11th July.
2024’s East Midlands CSR Summit was made up of a series of workshops, seminars, exhibiting charities and inspirational talks from organisations including Ideagen, Loughborough University and Futures Housing Group.
The summit formed a key pillar of East Midlands Chamber’s #EMComingtogether campaign, an initiative to strengthen the relationship between commerce and communities in the region.
Research findings conducted by Derby Business School and Loughborough Business School into how East Midlands businesses approach CSR were presented by Dr Barbara Tomasella of the University of Derby and Dr Elaine Conway from Loughborough University.
Speaking afterwards, Dr Elaine Conway said of the research data: “We’re not surprised that people in the East Midlands want to get engaged with CSR but what has surprised us is that, in spite of COVID, in spite of the downturns of economy or the cost of living crisis, companies are still wanting to engage with CSR.
“It’s that commitment, that people want to carry on, in spite of everything around them. That’s a really positive thing.”
Kirsty Yates, Housing Operations Manager and Sophie Harding, Community Engagement Delivery Officer at Futures Housing gave a talk on how to collaborate with partners, businesses and employers to deliver social purpose.
Kirsty Yates said afterwards: “For us, CSR is working in partnership to enhance our communities, make them more sustainable and ensure that our customers and communities can thrive and have the best opportunities available to them.
“We’ve worked successfully with smaller businesses, large businesses and there’s been a mutual benefit to both parties as well as the overall community.”
Sophie Harding said: “If we know who our customers are and what’s important to them, what services they need, then we can do better to support them.
“For example, if a charity is working with somebody on a local level, they build a relationship with them for a long period of time. That knowledge can be passed on to us so that we can support the wider community.”
Claire Knee, Global Community and Social Impact Lead from Nottingham-based global tech business Ideagen shared experience of the social impact they’ve had across education, volunteering, technology and charity support.
Speaking afterwards, Claire Knee said: “CSR engagement gives us the opportunity to have social impact, which is important to Ideagen. Community is one of our three values, so it enables us to live out that value, enables us to be proud of the place that we work and to recognise the good that we do.
“There’s a lot of positivity we get through colleague engagement in volunteering, there’s an absolute sense of pride in a job well done for the community.”
East Midlands Chamber President Stuart Dawkins, who opened the summit said: “Getting businesses together with communities and charities to look at the best ways of developing a solid CSR approach can only be a good thing.
“Events like this are a good springboard for thought – what are you doing yourself to assist your community. As I opened the summit, I spoke of the risk to businesses that don’t prioritise CSR getting left behind. It was encouraging to see so many East Midlands businesses share great ideas of how to deliver CSR really well.”
Speakers at 2024’s East Midlands CSR Summit included:
Derbyshire defibrillator firm acquired by Stockholm business
Safe Life, a Stockholm-based provider of life-saving solutions with portfolio companies across Europe and North America, has acquired Derbyshire-based Defib Store.
The acquisition marks Safe Life’s third in the UK and 25th since inception. Defib Store is an Automatic External Defibrillator (AED) cabinet manufacturer and independent defibrillator supplier with expertise developed through 30 years of designing and manufacturing bespoke cabinets and specialist enclosures based at offices in Derbyshire.“We are happy to welcome Defib Store’s employees to Safe Life,” says Jimmy Eriksson, Safe Life CEO. “The United Kingdom is an important market for Safe Life, and with the stellar reputation Defib Store has earned, we now have a solid base to continue building our infrastructure in the UK to save more lives.”
“We are excited to join Safe Life not only to bring the best minds onboard, but also contributing in its mission to saving lives on a global scale,” said Alex Bennett, Co-Founder at Defib Store.
“I feel it is the responsible decision to join Safe Life for the benefit of Defib Store’s customers, employees and future due to the significant investments in our collective mission that Safe Life continues to make.”
With a recent capital raise, Safe Life is in position to continue to make strategic acquisitions in its core geographical markets.
Go Green, Digital and Innovate Grant Schemes open to Harborough businesses
Businesses are being invited to apply for grants to help them thrive and grow.
Harborough District Council launched three new grant schemes at the recent Harborough Go Green Business Convention that are designed to provide vital financial support for local organisations in the Harborough district.
Funding of up to £2,000 is available to support projects that align with one of the following themes:
- Go Green: Aimed at helping businesses reduce their carbon footprints, increase energy efficiency, and lower fixed costs.
- Go Digital: Supports the adoption of digital technologies to improve business performance and enhance online customer engagement.
- Go Innovate: Provides funding for new products or methods to improve efficiencies and drive business growth.
East Midlands experiences downturn in Foreign Direct Investment
The East Midlands has experienced a downturn in Foreign Direct Investment (FDI), according to the latest EY UK Attractiveness Survey.
The region recorded 31 projects in 2023, a 35% decrease on the previous year. This decline marks the second-lowest total of FDI projects for the East Midlands in a decade, causing its share to drop to 3.1% of all UK projects. The East Midlands ranked as the UK’s tenth best performing region in attracting investment.
The East Midlands recorded almost the same number of jobs associated with FDI projects in 2022 as in 2023. The total in 2023 was 2,848, ranking the East Midlands eighth out of twelve UK regions for FDI-associated employment.
The East Midlands’ FDI performance was led by Transportation Manufacturers and Suppliers with seven projects, followed by Agri-food with five, and Machinery and Equipment and Software and IT services, each with four projects.
The East Midlands’ performance contrasts that of the West Midlands, which attracted 127 FDI projects in 2023, its highest total of the last decade.
Simon O’Neill, Office Managing Partner for EY in the Midlands, said: “The West Midlands recorded a meteoric rise in inward investment last year, a clear indicator of the region’s strong economic potential and its growing appeal to international capital.
“While we celebrate these successes, we remain committed to understanding the challenges faced by the East Midlands and to supporting its efforts to regain momentum in attracting global investment. The West Midlands’ success story is not only a win for the region but also a significant contribution to the UK’s position as a prime destination for foreign investment.”
Phenna Group makes seventh acquisition of 2024
Nottingham-headquartered Phenna Group, which invests in and partners with selected niche, independent Testing, Inspection, Certification and Compliance (TICC) companies, has made its seventh acquisition of 2024.
The acquisition augments Phenna Group’s Built Environment Division, adding service and geographic extension to its specialist fire capabilities.
Based out of London and established in 2020, TriFire is one of the leading fire protection safety and consultancy providers in the UK, offering a range of services to housing associations, building surveyors and managing agents.
Adam Kiziak, Principal Consultant at Tri Fire, said: “I am thrilled for my team and I to be joining Phenna Group. From our first meeting it was obvious there was a great fit and our services would complement their existing portfolio in the UK market. I’m looking forward to working with Brian and his team to fast track our future growth plans.”
Brian Shannon, Divisional MD, Built Environment (UK, Ireland & Middle East) at Phenna Group, said: “I’m delighted to welcome Adam and his team to my Division. Their services are highly complementary to the wide range already offered by Phenna Group in the Built Environment space and will offer our customers, old and new, added value. I look forward to helping the Tri Fire team deliver on their exciting growth plans.”
Phil Marshall, CEO of Phenna Group, added: “I’m excited to have Tri Fire join our Group. This acquisition is strategically important, adding UK fire expertise to our current Irish market leading position and cements our growing ‘one stop shop’ capabilities in the UK Built Environment market. I look forward to seeing Adam and his team, excel within Phenna.”
Phenna Group were advised by RSM and Avonhurst. Tri Fire were advised by Oaklins Evelyn Partners and Cripps.
Call for new government to support East Midlands entrepreneurs as start-ups slump
The steep drop in the number of new businesses set up in the East Midlands has continued into a second month, with significant numbers of local entrepreneurs holding back while the political landscape remains uncertain.
This is according to the Midlands branch of national insolvency and restructuring trade body R3 and is based on a monthly analysis of regional start-up data from business intelligence provider Creditsafe.
R3’s figures show there were 2,141 businesses set up in the East Midlands in June, which is a substantial 40.51% decrease compared to the 3,599 new businesses registered in April, prior to the announcement of the General Election. The May figure for the region was similarly low, with only 2,076 start-ups during the month.
These statistics sit within a volatile economic backdrop while the local economy waits for the dust to settle on the new government. There remains a high number of East Midlands companies with late payments on their books – 23,736 in June – and also a growing quantity of debts owed by liquidated firms in the region.
R3 Midlands Chair Stephen Rome, a partner at local law firm Penningtons Manches Cooper, said: “It’s apparent that entrepreneurs have, understandably, taken a cautious approach over the last couple of months, waiting to see how they may be supported or held back by a change in government.
“Going forward, it’s vital for start-ups to have a reliable economic platform to launch their undertakings, particularly as they are still having to navigate the longer-term economic challenges of inflation and spiralling fuel, energy and wage costs. Helping to achieve this has to be a political priority for our new politicians, law-makers and opinion formers.
“In the meantime, should significant cash flow difficulties arise for new entrepreneurs or established business owners alike, it’s crucial to take professional advice as soon as possible. There is a significant amount which can be done to rescue and support local businesses if help is taken early enough.”
Northamptonshire contractor reports 56% revenue growth
A continued focus on the later living sector has seen main contractor Kori Construction grow revenue by almost 56% in the 12 months to March 31, 2024.
The contractor, based in Corby, Northamptonshire, reported sales of £54.1m in 2024, up from £34.7m in the same period of the previous year.
Pre-tax profit climbed to £4m in the 12 months to March 31, up from £1.5m in the previous financial year and generating a profit margin of 10.5% – outstripping the industry average.
The company also reported a 100% increase in net worth and continues to operate a dividend strategy which prioritises strengthening the balance sheet and retaining earned profits to support future growth ambitions.
Jordan Connachie, Managing Director of Kori Construction, described the results as very encouraging, attributing the performance to strong client and subcontractor relationships, and the dedicated and professional team within the business.
He added that the company’s deep sector understanding, combined with robust financial controls, had enabled Kori Construction to mitigate risks, particularly inflationary pressures brought about by increases in material and labour costs.
Mr Connachie said: “Over the year, we have cemented ourselves as the leading main contractor of choice for purpose-built care homes in the UK, which is testament to the strong relationships we have built and maintained with our operator and developer clients, spanning from independent operators to blue chip businesses.
“As a result, the company has safely delivered five projects totalling 332 beds in the year, bringing the total number of completed beds to more than 1,000.
“With a further 10 projects under construction totalling 671 beds, the company continues to experience significant demand in the sector.”
Mr Connachie added future growth would continue to come from the care home sector, but also from the multiroom sector and retirement living projects which accounted for 35% of the company’s pre-construction opportunities over the financial year.
SkegVegas 100-mile bike ride set to return as £50,000 handed over to charities
Organisers of a sponsored 100-mile bike ride which took cyclists from Derby to Skegness have handed over £50,000 to two city charities – and are already looking for people to take part next year.
Cosy Foundation has given the money to the Derbyshire Children’s Holiday Centre and Derby Kids’ Camp following the SkegVegas 100 event, which took place in May.
It is the most the bike ride, which was launched in 2013, has ever raised, thanks to the generosity and pedal power of more than 70 participants, whose journey took them from Derby Arena through Nottinghamshire and Lincolnshire and to the holiday centre’s door.
It was also the biggest turn-out the ride had ever attracted thanks to a huge effort by its organisers, led by Cosy’s managing director, Dave Hook.
But now Peter Ellse, CEO of the Cosy Foundation, says organisers are looking to go bigger and better next year, with more riders and more money for the charities top of their wish-list.
The money raised will help pay for the charities’ work, which involves providing holidays for under-privileged young people across the county.
The Derbyshire Holiday Children’s Centre treats them to a week at the seaside in Skegness, while Derby Kids’ Camp gives them a week away sleeping under canvas, with games, treats and songs around the campfire at its own site outside Ashbourne.
Next year’s ride will take place on May 17 and there will be a host of new features including a walk called the Ashbourne Amble, a 20-mile trek across the Derbyshire countryside which will take place at the same time.
It is designed to give people who do not fancy embarking on the bike ride a chance to undertake their own fundraising challenge and it also helps reflect the work done by Derby Kids’ Camp.
The bike ride is also being opened up to local businesses, who will be invited to enter teams of four to 10 people and will get their own corporate cycling jerseys to commemorate the occasion.
And there will be a special celebration in the evening in Skegness, where the saddle-sore riders can unwind and swap their cycling tales, complete with refreshments and entertainment.
Peter said: “We learned this year how much of an institution the SkegVegas 100 is, with people returning year after year to take part and raise thousands of pounds for charity.
“We want to build on that by getting as many people involved as possible and raising awareness of these two wonderful charities who give young people a lifetime’s-worth of memories by giving them something everybody else takes for granted – a holiday.
“By organising a walk that will take place at the same time as the bike ride we will attract people who might feel that a 100-mile bike ride is beyond their capability but who are willing to take on a 20-mile hike to Ashbourne, which is just a few miles or so away from Derby Kids’ Camp.
“We also want to make the events extra memorable and reward everyone who is taking part, so what better way than host a party with, we hope, an Elvis impersonator thrown in.”
The SkegVegas 100 ride has become a much-loved fixture in the yearly calendar for the Derbyshire Children’s Holiday Centre, which, in the same spirit as Derby Kids’ Camp, gives a week’s seaside holiday to underprivileged children from Derby.
Alan Grimadell, chair of the Derbyshire Children’s Holiday Centre, said: “The SkegVegas 100 ride has raised many thousands of pounds over the years and we are thrilled with the success of last month’s event.
“Even though it happened a few weeks ago, Dave and his team have wasted no time in planning next year’s event and we’re all excited with the prospect of raising awareness of the ride even further and incorporating new ways in which to raise money.”
Chris Edwards, chairman of Derby Kids’ Camp, said: “This was our first year of being involved in the SkegVegas ride and the warmth, camaraderie and generosity of everybody who has helped organise it or have taken part has been a true eye-opener.
“They have helped raise an incredible amount of money, which will buy a whole load of happy memories for the young people who come out to our camp to get some fresh air, make new friends and just have fun.”
Former haulage warehouse in Lincoln hits the market for £3.3m
The former home of a family-run haulage firm is being marketed for sale by Watling Real Estate, who are seeking offers in the order of £3.3 million for the 78,733 sq ft industrial / warehousing unit in Lincoln.
The property comprises a detached, self-contained, four bay industrial/warehouse premises, located within the principal commercial district of Lincoln.
Ben Holyhead and Chris Davies of Watling Real Estate’s Birmingham office have been instructed to sell the vacant unit on Freeman Road, North Hykeham, on behalf of joint administrators from Kroll, who were appointed over Cartwright Bros. (Haulage) Ltd on 20 June this year.
Ben Holyhead said: “Given market demand for freehold industrial and warehousing accommodation, we anticipate a good level of interest, from occupiers and property investors alike. We expect demand to be supported by the property’s sub-division and asset management potential.
“Given the critical shortage of standing freehold industrial stock within Lincolnshire and the wider East Midlands, and with the cost of developing new accommodation exceeding £100 per sq ft, we expect the property to be an attractive proposition to a variety of potential purchasers.”
UK economy returns to growth
The UK economy returned to growth in May, following a flat April, according to new figures from the Office for National Statistics (ONS).
GDP (gross domestic product), a key measure of economy growth, showed a 0.4% month-on-month uptick in May, ahead of expectations.
All three main sectors contributed positively, with services output growing 0.3% in May, production output growing by 0.2%, and construction output growing 1.9%.
Ben Jones, CBI Lead Economist, said: “The latest data shows that the UK’s economic recovery is starting to put down roots. While growth in May was driven by a rebound in sectors such as retail and construction, which were hit by poor weather earlier in the spring, recent months have seen activity creeping up across a wide range of sectors.
“The new Labour government will benefit from some economic tailwinds going forward, with consumer confidence rising as lower inflation and strong wage gains support household incomes. However, many firms remain cautious about the near-term outlook. While the outcome of the election will help dispel some of the recent uncertainty, it could take a turning of the interest rate cycle for the recovery to really bed in.
“The new government’s focus on making growth a priority is welcome. However, to put the economy on a pathway to long-term, sustainable growth, we need to see concrete actions to deliver that vision within the next 100 days.
“While recent commitments to reforming the planning system are hugely welcome, firms are also keen to see progress in other key areas. A Net Zero Investment Plan would support ambitions to boost green growth, and a clear business tax roadmap would help deliver the stability that firms are looking for.”
