The headline NatWest East Midlands PMI® Business Activity Index – a seasonally adjusted index that measures the month-on-month change in the combined output of the region’s manufacturing and service sectors – posted at 52.3 in May, up from 51.2 in April, to signal a modest expansion in output at East Midlands private sector firms. The upturn was linked to a further rise in new orders and a sustained improvement in demand conditions. The rate of growth in activity was the fastest for three months, albeit slightly slower than both the series and UK averages. East Midlands private sector firms signalled a fifth successive monthly expansion in new business during May. Anecdotal evidence suggested the rise in new orders was due to sustained customer demand. That said, the pace of growth slowed to only a fractional rate, as some firms highlighted a sluggish sales environment. The rate of increase in new orders was slower than both the long-run series trend and UK average. May data signalled further upbeat expectations among East Midlands private sector firms. Companies stated that efforts to diversify revenue streams, greater advertising to bring in new clients and hopes of stronger demand conditions supported optimism. Nonetheless, the degree of confidence remained subdued in the context of the series’ history and was lower than the UK average. East Midlands private sector firms indicated an eleventh consecutive monthly decrease in employment during May. The rate of decline quickened to the fastest since last November, but was only marginal overall. Redundancies and the non-replacement of voluntary leavers following subdued new order growth reportedly drove job shedding. The fall in staffing numbers in the East Midlands contrasted with a slight rise seen at the UK level. May data indicated a faster decrease in backlogs of work at East Midlands firms. The pace of contraction quickened to the sharpest since September 2023 and was strong overall. Moreover, the pace of decline was the second-strongest of the UK regions, slower than only Wales. Companies noted that muted new order inflows allowed them to work through incomplete business successfully. Average cost burdens faced by East Midlands firms rose further during May, as higher wage bills and raw material prices pushed up operating expenses. That said, the pace of cost inflation slowed to the weakest since November 2020 and was softer than the long-run series average. The slower uptick in costs reflected the broader UK trend, however. East Midlands private sector firms signalled a solid rise in selling prices midway through the second quarter. The rise in output charges was often driven by efforts to pass through higher costs to customers. The rate of charge inflation eased for the third month running, however, and was the slowest since January 2021. With the exception of Yorkshire & Humber and the North West, the East Midlands saw the weakest rise in selling prices of the 12 monitored UK regions. Dipesh Mistry, Chair of the NatWest Midlands and East of England Regional Board, said: “East Midlands firms saw a more positive development with regards to output midway through the second quarter, as business activity ticked up at a faster pace. Demand was persistent, with new orders rising further, albeit at a slower rate. “Encouragingly for firms, cost pressures slackened somewhat from the highs seen throughout most of the last three-and-a-half years. Input prices rose at the slowest rate since November 2020. In a bid to remain competitive and boost sales, the pace of charge inflation also moderated. “Despite a faster fall in employment following reduced pressure on capacity, private sector firms remained optimistic in the outlook for output over the next year. In fact, business confidence strengthened from April as firms sought to diversify revenue streams and broaden their customer bases.”

Greg Simpson, founder of Press for Attention PR, delves into the role of awards in marketing strategies. Caution, the following information may dramatically improve your chances of winning an award but only if you use it. The reason I say this is because I absolutely KNOW that awards are on umpteen marketing new year’s resolutions lists but all too often, come the mid-point of the year (now), nothing has been done! Why is this? Awards are one of the least used tactics in marketing and PR and I find this really interesting. Seriously, who doesn’t fancy some industry recognition? Local, regional or even national profile? What about a motivated workforce that is proud to be a part of your success? Nevermind the major leverage an award win can give to the rest of your marketing – if you harness the dark arts of PR! So why don’t more people enter awards? I suspect the main reason is time. However, you need to consider these as a major part of your marketing and PR campaign, not an afterthought. Sure, there is a bit of science to it and some art (the creative bit) but basically it comes down to reading the criteria CAREFULLY and then making it as easy as possible for the judges to consider your case. Now is NOT the time for florid prose! Although…there is a place for this (warning, secret sauce alert). Ssssshhhh…it is right at the start. This is the bit the judges read first and tends to be the part they will read out IF you get to the final and you are waiting there, glass of wine in hand, as the names are read out. So, if yours sounds like this: “We were established in 2002 to provide added value services to the Widget industry. Our commitment to SOMETHING or OTHER bland and jargon heavy issue and our inevitable PASSION (because nobody is going to say ‘APATHY’) for innovation is what lies at the heart of our success.” Stop. It. Right. NOW! Can you imagine a judge reading that and thinking “whoa, we’ve got a live one! Let me get a coffee and settle in, there’s gold dust here.” You want this bit to sound like they are about to announce the best thing since sliced bread! Try this: “20 years ago we discovered a problem. Not just a wrinkle. Not an inconvenience. We had unearthed one of the biggest issues to ever face our industry. If it could be overcome (and we thought it could), it would save Widget manufacturers across the globe millions in costs, whilst also massively reducing the impact on our environment. So, we got to work. Two decades on…we did what follows below and it changed EVERYTHING!” Do you see the difference? You’d at least read the next para or two! You actually WANT to know what they did. Like all good marketing, awards are all about storytelling. Our clients see entering awards as part of their wider marketing strategy – they see the ROI. It is a fantastic way to gain objective third-party endorsement (a major goal of PR), great coverage and one of the best ways to foster employee and company relationships. People proudly point to articles in the press and say: “I work there.” Other highly-skilled people start thinking “maybe I should work there?” So, start to think about what awards you might enter. They might be local, regional, national or industry based but you can bet that once you integrate them into your marketing, the effects can really make a difference. P.S. I am on the judging panel for “The Bricks” this year…you know how to get my attention now!   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 June issue of East Midlands Business Link Magazine here.

A steep fall in the number of businesses set up in the region last month indicates local entrepreneurs are increasingly reluctant to ride out current economic challenges, including the addition of an uncertain political landscape in the run-up to a July General Election. 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 2,076 businesses set up in the East Midlands in May, which is a substantial 42.32% decrease compared to the 3,599 new businesses registered in April. The May figure is also 14.29% lower than the 2,422 start-ups established twelve months previously in May 2023. R3 Midlands Chair Stephen Rome, a partner at local law firm Penningtons Manches Cooper, said: “The sudden and steep decline in entrepreneurship in the region is reflected across the whole of the UK and highlights the effect that continuing economic challenges and uncertainty have on entrepreneurs as they seek to minimise their exposure. “The political uncertainty caused by the impending General Election, as well as longer term economic challenges, such as inflation, contracting economies and spiralling fuel, energy and wage costs, are taking effect. “R3’s advice to any director worried about the viability of their business, start-up or otherwise, is to seek professional help and to do it as soon as possible. The sooner support is sought, the more opportunities there may be to assure a company’s survival and future success.”

Residents, businesses, community groups and organisations in Chesterfield are being asked to have their say on how they think almost £20m worth of investment should be spent to help improve the town over the next 10 years. A new and independent board, called the Chesterfield Town Board, is driving forward this investment and wants to hear people’s views to understand local issues and priorities as well as ideas for the future of Chesterfield. People can put forward their views as part of an online survey – which will be open until noon on Monday 24 June – and a series of engagement sessions are also being held with local community groups and organisations. Dominic Staniforth, Chair of the Chesterfield Town Board, said: “Listening to local people and understanding how residents, businesses and community representatives think this money should be best invested is at the heart of our plans. “This means our investment proposals will be developed by local people for local people: bringing together residents, business, and community leaders to devise and agree a shared vision for the future. “It’s really important that we hear from as many people as possible, to understand local issues and priorities as well as ideas that people may have for the future of Chesterfield.” The short survey asks people to answer a series of brief questions, seeking their views on how the funding should be spent on projects which fit into three key themes:

• Safety and security – this could include projects which help to tackle crime and antisocial behaviour, for example.
• High streets, heritage and regeneration – this could include projects which would enhance the town, making the place more attractive and accessible to residents, businesses and visitors.
• Transport and connectivity – this could include projects which support improved access to the town centre, including work to support greener modes of travel, as well as public transport options.

People’s views will be used to help shape the development of a long-term vision statement and three-year investment plan setting out how and where the money will be spent. Dominic added: “Chesterfield is a great town full of wonderful people and organisations that share a common purpose to make it even better – a place to live, work, invest and study – so please do spare a few minutes to complete our short survey and be part of our shared ambitions for the town.” Local business leader Dominic Staniforth was appointed as Chair of the Board. He sits alongside representatives from other local businesses, community and voluntary organisations, and the public sector, including representation from Chesterfield Borough Council.