£200,000 programme to create a more inclusive workforce
Council confirms Victoria Centre Market closure
- Stallholders will be able to continue trading until summer 2024 when the market will close down
- No new traders will now be taken on
- Further conversations about next steps will be given to traders early in the New Year, including compensation payments where appropriate
- Negotiations will continue with Global Mutual about terminating the lease agreement
Businesses back action at M1’s Junction 28 to unlock the region’s economic potential
Administrators appointed to plant-based meat and cheese manufacturer
Glimmers of recovery for East Midlands economy, but steep challenges remain for 2024
A sharp drop in the quantity of debts owed by firms in liquidation in the East Midlands, as well as a decrease in the number of local companies with overdue invoices on their books, is a welcome cashflow boost for the local economy as businesses head into 2024.
According to the Midlands branch of R3, the UK’s insolvency and restructuring trade body, levels of debts owed by businesses in liquidation in the region fell by 28.17% in November compared to October, while the number of local companies with invoices overdue for payment has continued to fall since May of this year. The latest monthly statistic for businesses with late invoices remains high, however, at 23,229.
R3 Midlands’ figures, which are based on an analysis of data from business intelligence provider Creditsafe, also highlight a mixed picture for start-ups in the region. While the number of new businesses fell by 4.43% in November compared to the previous month, the latest figure of 2,419 is 8.23% higher than 12 months previously in November 2022.
R3 Midlands chair Stephen Rome, a partner at the Midlands office of law firm Penningtons Manches Cooper, said: “East Midlands businesses have been battling economic issues for three-and-a-half years now, and corporate insolvency numbers have been rising as more and more directors run out of options.
“It is encouraging to see some improvements in cashflow conditions, as well as evidence of entrepreneurial appetite, but as we head into 2024, inflation remains high and core prices continue to rise.
“It’s impossible to predict whether the current Christmas trading period will be a badly-needed boost for local firms or the final blow. It’s critical, therefore, that directors are alert to any signs of financial distress and act on them promptly.
“There is a significant amount which can be done to rescue and support East Midlands businesses, beyond traditional insolvency solutions, if help is taken early enough.”
HR & Employment business welcomes experienced associate employment solicitor
A HR & Employment company has continued its growth by adding an experienced solicitor to its ranks.
Derby-based Precept has welcomed Alex MacAskill as an associate employment solicitor. She joins the four-strong legal team at the Mansfield Road based business.
Alex, who has previously worked for Smith Partnership, says that she is looking forward to a new challenge with Precept.
“I like the fact that Precept pride themselves on ‘doing law differently’,” she said. “Their advice is straight to the point, and they simplify even the most complex of situations.
“I have known and admired (director and co-owner) Rob Tice for several years, and I am looking forward to being given the opportunity to work directly with corporate clients, and to the fresh challenge that joining Precept brings.”
Director and co-owner Rob Tice said: “We have gone through a huge period of growth over the last 12 months at Precept and we are delighted to welcome Alex to the team; we are now one of the largest HR & Employment Law team in the East Midlands.
“She offers a wealth of experience and fits our ‘fresh and accessible’ approach perfectly; to do things differently with a no-nonsense attitude, and to continue to build meaningful relationships with clients and our community.”
Barron McCann supports YMCA, Padley Centre and Belper Care Home this Christmas
Barron McCann has chosen three local organisations as recipients of its Christmas appeal for 2023.
The tech company – along with HR & Employment Law firm Precept, which is part of the Barron McCann group – is supporting the YMCA Derbyshire, Padley Centre and Belper Christmas Shoebox Appeal.
Employees at Barron McCann, which provides IT services to customers throughout the United Kingdom and Europe and has its headquarters in Derby, are collecting items to donate to the charities, which will be distributed before December 25.
For Lisa Billyeald – Project Planning Manager at Barron McCann – it will be her third year supporting the Belper Christmas Shoebox Appeal that was set up by her friend Sally Taylor, and daughter Erin, five years ago.
Lisa, from Belper, said: “Sally and Erin, who was eight-years-old at the time, decided that they wanted to try and make sure that all the people in care homes in and around Belper had gifts to open on Christmas day.
“They set up a Facebook group asking for donations and reached out to care homes to get names of residents and their likes and dislikes.
“This is the third year that I’ve been involved, and the demand gets bigger each year. We now deliver shoeboxes to a dozen care homes in Belper as well as to elderly people living alone; those who don’t get out much and those people who don’t have many visitors.
“My job, as well as collecting the donations from Barron McCann and Precept, is to organise people to make the shoeboxes, get them dropped off to me once they’re filled, and to then deliver them.”
The boxes contain presents like chocolate, jigsaws, toiletries, scarves, and gloves. Each one is carefully packed to cater for the individual and their requirements.
Sally says that the project has been a labour of love.
“Erin has always been kind-hearted and the Shoebox Appeal is her way of giving back,” said Sally, who works as a receptionist at the Riversdale Surgery in Belper.
“We searched for groups locally who we could create a shoebox for when we first had the idea but couldn’t fine one suitable – so that’s why we created our own.
“That first year, we had 230 boxes that were delivered to elderly people in the area and the demand has grown over the years.
“It’s been difficult this year, as money is tight for everyone, so that’s why we’re especially grateful to Barron McCann for their support.”
Chesterfield welcomes new business support programmes
A range of new business support programmes that aim to provide advice and funding for both established and start-up businesses has been launched in Chesterfield.
Chesterfield Borough Council and East Midlands Chamber launched the support projects at an event at Chesterfield Football Club’s SMH Group Stadium on Thursday 7 December.
The Chesterfield Accelerator initiative, which will be run by East Midlands Chamber but funded by Chesterfield Borough Council through the UK Shared Prosperity Fund (UKSPF), includes a dedicated local business advisor, access to a range of courses and workshops on a variety of topics which are free for local businesses to attend.
Chesterfield Borough Council has also launched a new business grant scheme funded through the UKSPF. The grants are open to any business based in Chesterfield and can be used to support initiatives designed to help the business grow.
Councillor Tricia Gilby, Leader of Chesterfield Borough Council and cabinet member for economic growth, said: “We are an ambitious borough with our sights firmly set on growing the local economy to create new jobs and improve the quality of life for our residents.
“We recognise the importance of working closely with local businesses to deliver growth. Our business support packages aim to help businesses in any sector and of any size to realise their potential. From providing tailored business advice to business grants and hosting workshops, there is a wide range of support available.
“I encourage any business owner in Chesterfield to look closely at the support we can provide and to get in touch with us as soon as possible to access these business support programmes.”
The Chesterfield Accelerator is one of 16 Accelerator programmes being run by the Chamber across the East Midlands. The programme includes access to a dedicated business advisor who can provide advice on a wide range of issues relevant to businesses.
It also includes access to training workshops designed to support development in areas like digital skills; a subsidy for a 12-week executive leadership programme; support to apply for grant funding; networking sessions; vouchers for specialist consultancy programmes; and energy saving audits.
Diane Beresford, Deputy Chief Executive of East Midlands Chamber, said: “It was standing room only at today’s launch event, such is the interest of local businesses in the new Chesterfield Accelerator project, decarbonisation grants and the business grants on offer from the Council.
“The Chamber and Council have a great track record of partnering on such initiatives, including on the Chesterfield Digital High Street Project which brought much-needed footfall to the town’s high street businesses. We’re now looking forward to reaching a much wider range of sectors to give businesses the skills and resources they need to build in the most robust way for the future.”
As well as the Chesterfield Accelerator, businesses in Chesterfield can access the new grant scheme that could provide 80% of the cost of investments designed to help a business grow or expand. This could include the cost of new equipment – for instance a local café could apply for new machinery that would help expand their menu. These grants are only available for a limited time, and businesses are advised to apply as soon as possible.
Green business grants are also available to help businesses to reduce their carbon footprint.