Business confidence in the East Midlands rose five points during May to 40%, according to the latest Business Barometer from Lloyds Bank Commercial Banking. Companies in the East Midlands reported higher confidence in their own business prospects month-on-month, up six points to 40%. When taken alongside their optimism in the economy, up five points to 41%, this gives a headline confidence reading of 40% (vs. 35% in April). Looking ahead to the next six months, East Midlands businesses identified their top target areas for growth as investing in their team, for example through training (36%), evolving their offering (36%), and entering new markets (33%). The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide. The data for this edition was collected between 1–16^th May, before the UK general election was announced. National picture In May, overall UK business confidence reached its highest level since 2015 – rising by eight points to a net balance of 50%. Businesses showed increased optimism in both their trading prospects (up nine points month-on-month to 54%) and the economy (up seven points to 46%). Firms’ trading outlook was the most optimistic in seven years, while economic optimism was the highest recorded since September 2021. Scotland and the South East of England were the most optimistic of the UK nations or regions in May (both 57%), followed by the West Midlands (56%). Sector insights Similarly, there were particularly strong results reported in the construction and services sectors this month. Prospects in the construction sector jumped to 58% (up 20 points), the highest for 14 months, while in services, expected output increased to 57% (up 12 points). On the latter, it is the highest level since the survey was expanded in 2018. Expected business activity in the retail sector also improved to 49% (up three points). Although trading prospects in manufacturing eased slightly to 49% (down three points), the underlying trend over the last three months remains positive. Dave Atkinson, regional director for the East Midlands at Lloyds Bank Commercial Banking, said: “It’s encouraging to see higher confidence across the East Midlands this month, particularly when it comes to firms’ own trading outlook. As businesses pursue their growth plans, we’ll continue to be their side to help make them a success. “There’s good reason to be cheerful. May also saw the completion of the next step in a £1.14bn devolution deal for the region with the election of the first ever East Midlands Mayor.” Hann-Ju Ho, senior economist, Lloyds Bank Commercial Banking, said: “These results highlight a notable improvement in business confidence. Optimism about the economy increased to 46% this month – the highest result since September 2021, when the country was emerging from the Covid-19 pandemic, but before the energy crisis after the invasion of Ukraine. “The regional picture has also improved – we’ve now seen increases in seven of the UK’s 12 regions, where there was previously a more mixed picture. Results in the South East, Scotland and the West Midlands were particularly strong. Across the sectors, there were strong, broad-based improvements in services and construction.”

An ambitious scheme to meet Derbyshire and Nottinghamshire’s net zero targets has moved one step closer to reality, after the newly formed East Midlands Combined County Authority (EMCCA) gave its backing to the region’s Local Area Energy Plan (LAEP). The LAEP – which has been designed and developed by a number of local authorities across the region, alongside the Midlands Net Zero Hub – will be supported by EMCCA, which is funding its implementation over the next two years. The initiative will see a data-driven, net zero ‘action plan’ rolled out across the region, which will aim to deliver an effective, on-time and value for money approach to climate resilience, tailored to the need of local communities. It will set out priority areas for different elements of the region’s energy system and identify the areas where specific technologies – such as heat pumps, EV charging and insulation schemes – would be most effectively installed. Mott MacDonald and Integrated Environmental Solutions (IES) have been appointed to drive the project forward over the next two years, working collaboratively with local authorities and Midlands Net Zero Hub. The Local Area Energy Plan, once implemented, will be the largest of its kind in England – putting the region in a strong position to attract investment and create jobs in green industries. Claire Ward, Mayor of the East Midlands, said: “Thanks to the fantastic work of our local authorities and valued partners, our region is in a strong position to meet the challenge of net zero and secure a sustainable future for our young people. “We need to make big, systemic changes to the ways we produce and consume energy – and here in the East Midlands we want to drive this on a local level, putting communities in control of how best to tackle climate change. “That’s why I am delighted to see the East Midlands Combined County Authority, which I chair and lead, supporting the Local Area Energy Plan. Not only will it provide a clear roadmap for a greener future, but it will also encourage more investment in low carbon technologies – creating high-skilled jobs and business growth in sectors that are working towards the net zero transition.” Wayne Bexton, Director of Green Growth, Investment and Assets at Nottinghamshire County Council, said: “The appointment of a LAEP provider for Derbyshire and Nottinghamshire is a significant milestone which will enable the new combined county authority to detail a clear, innovative path to achieving net zero. “The work will ensure we can harness further investment into the region, creating new jobs and opportunities for training in low carbon industries. “Our region has an unparalleled opportunity to lead for the UK on this agenda, and this is an exciting next step on that journey.” Michael Gallagher, Director of Environment & Sustainability at Nottingham City Council (Interim) and Senior Responsible Officer Midlands Net Zero Hub, said: “The development of the largest Local Area Energy Plan in England, supported by the Midlands Net Zero Hub, has been a brilliant collaborative effort across all local authorities in Nottinghamshire and Derbyshire. “We are excited to be working with Mott-McDonald and IES to develop a joined-up plan that can help the region identify a cost-efficient route to net zero for the region that attracts investment, enables projects and supports economic growth.” Work will get underway on rolling out the plan from June 2024.

Plans to invest almost £20m in Chesterfield over the next decade have taken a major step forward, with the launch of a new independent board which will oversee how and where the funding is spent. Local business leader Dominic Staniforth has been appointed to chair the new Chesterfield Town Board – sitting alongside representatives from other local businesses, community and voluntary organisations, and the public sector, including representation from Chesterfield Borough Council. It follows the Government’s ‘Long-Term Plan for Towns’ announcement in October last year, which named Chesterfield as one of 55 UK towns to benefit from the new funding initiative – which aims to give local communities a greater voice in shaping improvements across the town. Board members have now held their first formal meeting where it was agreed to run a public consultation exercise in June, giving local people the chance to have their say on how the money should be invested. In line with Government guidance, a representative of Chesterfield Borough Council sits on the board, and the authority will also act as the board’s accountable body. However, all decisions about how the £19.5m worth of endowment-style funding is invested will be made by the Chesterfield Town Board, in consultation with local people. Dominic Staniforth is a partner at BHP LLP Chartered Accountants – which has a base at One Waterside Place – and has been an active part of Chesterfield’s business community for many years. He said: “Chesterfield is already 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 – and this funding will further bolster our ability to deliver on that collective ambition. “I am honoured to have been invited to become chair of the new Chesterfield Town Board and it’s fantastic that leaders from across the town, and the council, have already begun work to identify how and where this funding could make the greatest impact for local residents and businesses. “Listening to the views of local people and understanding where they think this investment could make the biggest difference is at the heart of this work and we will be sharing more information about how to get involved in the coming weeks.” Working closely with the council, the Board will now oversee the development of a long-term vision statement and three-year investment plan – to be developed following consultation with local people, and based on what they see as priority areas for investment. This must be submitted to the Government for approval later this summer. Councillor Tricia Gilby, leader of the council, said: “We have really strong and innovative business and community networks here in Chesterfield and this is again another great opportunity to bring people together – backed by millions of pounds worth of funding – to deliver projects which will make a real difference to the quality of people’s lives over the next 10 years. “We’re delighted to welcome Dominic to the role of chair, as a local business leader with extensive experience of the area, and a shared passion and commitment to make the town of Chesterfield thrive for generations to come.” In line with Government guidance, the funding must be spent across three key themes, which include: safety and security (to tackle crime and antisocial behaviour), high streets, heritage, and regeneration (making the place more attractive and accessible to residents, businesses, and visitors), transport and connectivity (improving access to the town centre, supporting greener modes of travel and enhancing public transport options).

Mather Jamie has returned to sponsor the East Midlands Bricks Awards for another year, backing the Architects of the Year category for the 2024 event. The well established and specialist land development and property consultancy, based in Loughborough, prides itself on providing a comprehensive range of director-led advisory services to landowners, occupiers, developers and investors nationwide. One of the East Midlands’ leading commercial and agricultural surveyors and valuers, Mather Jamie’s principal services include strategic land development advice, acting as rural estate managers and letting agents, and commercial property agents. Speaking with Business Link, Amy Biddell, director at Mather Jamie, said: “This is Mather Jamie’s second year of sponsoring the Bricks Awards. The event is a great way to promote our services to an elite audience of landowners, property developers and building contractors. It’s great to be able to celebrate in a room full of like mind businesses who share a passion for the East Midlands construction sector.” Offering advice to those entering Mather Jamie’s sponsored category, Amy added: “For architects looking to submit an application, we will be looking for them to demonstrate an understanding of planning regulations so that development meets approval. Sustainability and biodiversity are hot keywords within the industry, so we will be looking for entries to showcase an innovative approach to sustainable working practices, which meet development briefs. “Other points to consider include;

1. Design ethos that shows sympathy to local aesthetics
2. Consideration for ecology/environment
3. Ease of construction without too many modifications to design or materials
4. Demonstrate client satisfaction
5. Schemes that also benefit the local community.”

The East Midlands Bricks Awards, which will take place on Thursday 3rd October, at the Trent Bridge Cricket Ground, recognise development projects and people in commercial and public building across the region – from office, industrial and residential, through to community projects such as leisure schemes, schools and public spaces. We also highlight the work of architects, agencies and those behind large schemes. Winning one of these awards will add considerably to a company’s or individual’s brand and enhance their commercial reach significantly. To nominate your (or another) business/development for one of our awards, please click on a category link below or visit this page. A highlight in the business calendar, winners will be revealed at a glittering awards ceremony on Thursday 3rd October, at the Trent Bridge Cricket Ground – an evening of celebration and networking with property and construction leaders from across the region. Tickets can be booked for the 2024 awards event here. Connect with local decision makers over nibbles and complimentary drinks while applauding the outstanding companies and projects in our region. Attendees will also hear from keynote speaker Paul Southby, partner at Geldards LLP, chair of the Advisory Board to Nottingham Business School, chair of Broadway independent cinema, trustee of Clean Rivers Trust, chair of Nottingham Partners, board member of Marketing Nottingham and Nottinghamshire, and former High Sheriff of Nottinghamshire. Thanks to our sponsors:      

             

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