Rolls-Royce visited by ministers following £4bn submarines deal
New head of mortgage sales at Hinckley & Rugby Building Society
Laura Sneddon is the latest mortgage specialist to join the business development team at Hinckley & Rugby. She joins the Society with more than 20 years’ experience in the mortgage industry, including major roles within the specialist Intermediary sector.
“I knew from my first conversation with Hinckley & Rugby that it’s exactly the right job for me,” Laura said. “I feel I’m in the right place, at the right time, to develop specific broker relationships to meet the needs of today’s untypical borrowers. Those brokers, the Society, and I personally, share precisely the same values and goals.”
One of Laura’s main goals is to seek out new opportunities and to engage with new Intermediary partners, in markets where the Society is not so well-known.
Expanding on this, Laura said: “I’m in a position to influence product development and decision-making for the direct benefit of brokers and their clients. And I have an amazing team of enthusiastic professionals who are committed to the same journey.
“We are actively looking at specific demographics, to pinpoint where the Society’s flexible approach can deliver positive outcomes for deserving clients whom many lenders discriminate against.”
Merritt’s makes over £1m of investments in 2023
Heavy machinery moving and industrial storage specialists, Joseph Merritt Group PLC (Merritts) has embarked on another year of significant investment.
Since January 2023, the company has invested over £1 million in new machinery and equipment, with further expenditure of £500k already planned for 2024.
This year’s investments include the purchase of four new Scania tractor units, two new step-frame semi-trailers with beavertail ramp systems, and the acquisition of additional warehouse space to expand its industrial storage offering to over 100,000 square feet.
In 2024, Merritts will be expanding their fleet of crane trailers, with the addition of a FASSI F990RA.2.24 and a FASSI F820RA.2.24, installed onto Nooteboom trailers.
This investment by the company, which was founded in 1922 and recently celebrated its 100th anniversary, ensures they will remain at the forefront of the machinery moving and installation industry.
James Merritt, co-owner, said: “Over the past 18 months we have witnessed a significant increase in the requirement for turnkey factory relocation projects, with customers wishing to expand their facilities to enhance their manufacturing capabilities.
“Our ongoing investment will enable us to continue delivering exceptional services to our clients while further strengthening our position as leaders in the machinery moving and industrial storage sector.”
Golf day raises money to protect local children
A golf day organised by two Derby businesses has raised £2,000 for the county’s specialist child exploitation charity, Safe and Sound. A group of 64 golfers took part in the event organised by Invictus Communications in Melbourne and German Automotive service and repair centre in Ascot Drive, Derby. Jonny McPhee, Managing Director of Invictus Communications has been a long-time supporter of Safe and Sound including installing a new telephony system at the charity’s offices to ensure they could keep their helplines open. He also nominated Safe and Sound to be the chosen charity for the recent East Midlands Business Awards which raised £13,000 to support their work. He said: “Safe and Sound do an incredible job protecting and supporting young people and families whose lives are affected by child exploitation. “Therefore, when we started planning the golf day with Ian Essex and the team at German Automotive, I was adamant that Safe and Sound would be a chosen charity for fundraising on the day. “Our whole ethos is buy local, sell local and support local and I am delighted that we have once again been able to make a positive difference to this amazing charity.” Tracy Harrison, CEO of Safe and Sound, met with the golfers on the day as they teed off. She said: “Once again we are very grateful for the generosity shown by Invictus Communications and the businesses and individuals they work with. “Every penny raised goes into directly supporting young people and families in our local communities through 121 and group support, positive activities and outreach work. “We can only do this with the support of our local business community and I hope they all realise what a positive difference they are making to so many people’s lives.”
Relocation and recruitment as Wells McFarlane sees positive growth
Chartered Surveyors and Property Consultants, Wells McFarlane has expanded with a new premises and team members.
The Lutterworth-based firm has relocated from the town centre to St John’s Business Park in a move that will facilitate further growth.
“Lutterworth has been our hometown since we started the business almost 20 years ago and it has a thriving local community that we were keen to remain a part of,” explains Wells McFarlane’s director and co-founder, Andrew McFarlane Holt. “However, as we looked towards the future, our previous premises no longer aligned with our plans for growth and therefore the decision was made to move.
“The office at St John’s is modern and open plan, meaning our teams can collaborate more easily and efficiently. It has a breakout area, dedicated client meeting facilities including a board room and private offices for confidential transactions, and will enable us to better accommodate hybrid and flexible working patterns. Recruitment can also be accelerated, with ample space to expand our commercial property or land and development teams,” adds Andrew.
Since relocating, Wells McFarlane has already taken on two new members of staff. Pip Johnstone joins as an assistant asset manager/PA, while Lesley McQuade has been appointed as PA to director, Jason Hercock. Both are supporting the firm’s residential and commercial teams with marketing, lease renewals and administrative duties.
Director and co-founder, Trevor Wells says: “Despite some challenging market conditions and uncertainty particularly surrounding the office market post-Covid, our business has performed strongly so we’ve actively recruited, adding talented professionals like Pip and Lesley who have both fitted in seamlessly.
“This positive performance can be seen across all areas of our expertise, from land sales that will enable the creation of new homes or agricultural jobs to the increased amount of office and industrial parks we now have in our management portfolio.
“Of course, a key differential in our growth this year was being ranked as the CoStar number one agent for office and investment deals in Leicester and the East Midlands. This independent award confirmed to existing and potential clients our solid understanding of the market, its drivers and key trends, and that they can be assured of the most robust and considered advice to maximise assets or secure the best deals.
“As we plan ahead for next year, our 21st birthday and our longer-term growth, we’re confident we now have the right people in the right place to achieve further success,” concludes Trevor.
Leicester charity helps shape national recruitment framework
Employers are invited to assess themselves against nine new standards measuring the quality of their engagement with young job-seekers.
The Careers & Enterprise Company has developed its ‘Employer Standards’ framework as a method of improving engagement between young people and employers.
Each standard reflects a different aspect of the central role employers play in developing effective careers provision in schools and colleges.
Measures include providing opportunities for young people looking to embark on careers, building skills, and preparing young people for the application process.
More than 360 employers nationwide have already assessed themselves against the nine evidence-based standards. The results show:
- Employers who promoted careers pathways were up to four times more likely to see an increase in the number of young people applying for apprenticeships.
- Sectors, such as construction, with established systems for long-term engagement with young people were achieving more of the standards.
- Employers were faring worst against the standard for preparing young people for application processes and interview.
Streets Chartered Accountants covers the Autumn Statement, Corporation Tax and VAT Funding Solutions, business insolvencies, and more in new news roundup
Streets Chartered Accountants covers a recent merger, the Autumn Statement, Corporation Tax and VAT Funding Solutions, business insolvencies, and more in its latest monthly news roundup.
The merger of two leading accountancy practices is a welcome boost to Bristol, the South West and beyondStreets its delighted to announce the establishment of Streets Steele Chartered Certified Accountants. The announcement follows the merger of the award-winning Bristol practice, Steele Financial with Streets. When asked about the merger, Ben Steele, now Managing Director of Streets Steele, said: “Having started Steele Financial only six years ago we have experienced significant growth and as such, in line with the advice we give our clients, we recognised the need to develop our practice to service growing demand.”
Webinar: The Autumn Statement 2023Following Chancellor, Jeremy Hunt’s Autumn Statement on Wednesday 22nd November, colleagues from Streets Tax and its financial services team will present on the announcements made along with providing an update on topical issues affecting business clients and private individuals during this tax year 2023/24. This presentation will be recorded and available on demand for those not able to join live. Simply register to receive a link to watch on demand.
Corporation Tax and VAT Funding SolutionsWhether your Corporation Tax payment is looming or your VAT payment is approaching and you are looking at managing your cashflow and working capital, then it might be worth considering a tax funding solution. What is tax funding? Tax funding is a finance option enabling businesses to fund their VAT or Corporation Tax over monthly affordable repayments rather than paying HMRC in one go, giving more flexibility, aiding cashflow and providing you with additional working capital to use as and if required during the year.
Podcast: Business insolvencies are on the rise – how to manage your exposureIn this episode of The Streets Sessions, Andrew McTear, a director with insolvency and business restructuring specialists McTear Williams Wood, talks about the rising number of business insolvencies, what directors need to consider and how to manage their exposure should their business be struggling or be facing increased bad debts.
Event: Going Global ConferenceStreets’ international association, SBC Global Alliance, is delighted to support this event, with Marketing Partner, James Pinchbeck, as host. Are you eager to expand your horizons and explore international markets? Whether you’re embarking on your exporting journey, expanding into new markets, or delving into imports from international suppliers, this Going Global Conference is tailored to guide you on your international business ventures. Whether you’re a seasoned exporter or just starting your international journey, this event is crafted to equip you with the tools and insights needed to excel in the ever-expanding global business landscape.
Are we facing a meteoric rise in mediocrity?How often, especially if you are on LinkedIn, have you seen a post or received news that someone you know has been promoted? How often does such promotion seem to be a somewhat significant step up or change from an existing role? Whilst a career trajectory from assistant to a C suite role in a matter of a few years might seem unplausible, it does seem increasingly possible. It seems gone are the days that one’s career progression is based on a number, if not many, years of work and being mentored and supported by a more senior person, with such progression dependent even on the retirement of the person in the role above.
The key areas of staff training for the success of your business
In the fast-paced world of business, staying ahead means having a workforce that’s not just skilled but adaptable. Staff training is the linchpin, providing the necessary tools for employees to shine in their roles. Let’s take a deep dive into the critical areas of staff training that can truly make a difference in the success of your business.
OKR Training
OKR (Objectives and Key Results) training for your staff is crucial for achieving business success. OKRs provide a framework that aligns individual and team goals with overall organisational objectives, fostering a sense of purpose and direction. Through training, employees learn to set ambitious yet achievable objectives and identify key results that measure progress.
Effective OKR implementation enhances communication, transparency, and collaboration within the organisation. Staff members gain a clearer understanding of their roles in contributing to the company’s success, promoting a sense of ownership and accountability. Investment in these kinds of courses ensures adaptability and responsiveness to changing market conditions if your team requires OKR training. By establishing a culture of goal-setting and tracking, OKR training empowers employees to prioritise tasks that drive business outcomes. It enables better decision-making, resource allocation, and strategic planning.
HR Training
Human Resources (HR) training plays a pivotal role in fostering a productive and harmonious work environment. It equips employees with the necessary skills and knowledge to navigate the complexities of the modern workplace, enhancing their overall performance and job satisfaction. Effective HR training empowers employees to understand and adhere to company policies, promoting a culture of compliance and ethical behaviour.
Moreover, HR training is essential for developing strong interpersonal skills, communication abilities, and conflict-resolution techniques. This not only improves employee relations but also contributes to a positive and inclusive workplace culture. Additionally, HR training ensures that employees are well-versed in the latest industry practices, technological advancements, and compliance requirements, keeping the organisation competitive and resilient in a dynamic business landscape. In summary, investing in HR training is an investment in the success, well-being, and growth of both individual employees and the organisation as a whole.
Sharpening Technical Skills
In today’s digital age, being tech-savvy is a must. Training programs should hone in on technical skills, be it mastering the latest software, keeping up with industry tech, or understanding data analytics. This investment ensures your team can efficiently handle the ever-evolving tech scene, boosting efficiency and innovation. Although technical training and equipment may require an initial cost, it should be seen as a long-term investment in the success of your business and how efficiently it can operate.
Polishing Soft Skills
Beyond the technical, soft skills are game-changers. Effective communication techniques, problem-solving, and teamwork are vital for a positive work environment. Training in these soft skills helps employees build relationships, both with clients and colleagues, leading to improved customer satisfaction, higher engagement, and better team cohesion.
Cultivating Leadership and Management
Strong leadership is the backbone of any company. Investing in leadership and management training grooms the next wave of leaders. Covering strategic decision-making, conflict resolution, and effective team management, this training ensures a steady hand at the helm and fosters a culture of mentorship and professional growth.
Navigating Compliance and Regulations
In today’s regulatory maze, ensuring your staff is up to speed is crucial. Training on data protection, safety protocols, and industry-specific regulations prevents legal troubles and reputational damage. Regular training sessions create an understanding of responsibilities and contribute to a culture of ethical business practices.
Elevating Customer Service
Exceptional customer service is a business cornerstone. Training programs should focus on equipping employees with the skills for outstanding customer experiences. Effective communication, problem resolution, and empathy all play a part. Investing in customer service training not only boosts customer satisfaction but also enhances brand loyalty and repeat business.
Fostering Innovation and Adaptability
In a world of constant change, fostering innovation and adaptability is key. Training should encourage creative thinking, problem-solving, and an openness to change. This keeps the organisation competitive and empowers employees to contribute ideas that fuel business growth, creating a dynamic workforce ready for anything.
Embracing Diversity and Inclusion
Promoting diversity and inclusion isn’t just about morals; it’s a business imperative. Training in this area should tackle unconscious bias, cultural competency, and the importance of an inclusive workplace. A diverse workforce brings fresh perspectives, fostering a vibrant and creative organisational culture.
Raising Cybersecurity Awareness
With cyber threats on the rise, cybersecurity awareness is a must. Employees need education on the latest threats, best practices for protecting sensitive information, and the importance of sticking to cybersecurity policies. This training safeguards the organisation’s data and reduces the risk of security breaches.
In Conclusion
Staff training is the heartbeat of a successful business. By strategically addressing technical and soft skills, leadership development, compliance, customer service, innovation, diversity, and cybersecurity, businesses can create a competent and adaptable workforce. In a business landscape that’s always shifting, a commitment to ongoing staff training is the secret sauce for organisations aiming for long-term success.
Two found guilty of making £3m worth of fraudulent mortgage applications
Larry Barreto, based in the East Midlands, has been found guilty of 11 charges of fraud by false representation following a prosecution brought by the Financial Conduct Authority (FCA).
At an earlier hearing, Mr Barreto pleaded guilty to two offences of arranging and advising on regulated mortgages without FCA authorisation. At the beginning of the trial, Mr Barreto’s co-defendant, Tassib Hussain, a chartered accountant, pleaded guilty to fraud by false representation.
The total value of the mortgages falsely applied for was around £3 million.
Between 1 January 2015 and March 2018, Mr Barreto gave advice to clients looking to take out residential mortgages without the necessary FCA authorisation. In 11 cases, he also dishonestly inflated the mortgage applicant’s income in their application to the lender.
Mr Barreto charged the client a fee which he would then pay in cash to Mr Hussain, who created false self-employment and employment documentation to support mortgage applications for clients with insufficient income.
Mr Hussain also produced multiple documents purporting to have been issued by HMRC and containing false income figures, which in each case were sent on to the lender by Mr Barreto.
With Mr Barreto’s knowledge, Mr Hussain also claimed to employ two of the applicants to create a false impression of their income, producing false contracts of employment and payslips in support, which Mr Barreto also forwarded to lenders.
As a result of the fraud, lenders granted mortgages to several applicants on a false basis, placing lenders at greater risk of loss.
Steve Smart, Joint Executive Director of Enforcement and Market Oversight, said: “Mr Barreto and Mr Hussain knowingly lied and misled their clients and mortgage providers in order to benefit financially from mortgage applications. This put borrowers at risk of taking on unsustainable levels of debt, and left lenders open to losses.
“Today’s verdict demonstrates our commitment to tackling fraud and sends a warning to anyone involved in similar criminal activities that we will pursue them, so they face the full force of the law.”
Mr Barreto had previously been struck off as a financial adviser by the Personal Investment Authority (in 1996) and prohibited from carrying on regulated activity by the Financial Services Authority (in 2004).
Both individuals will be sentenced on 23 February 2024.
New student accommodation plans submitted for Nottingham
Plans to develop new student accommodation on Pemberton Street in Nottingham have been submitted to the city council.
The proposed site is currently used as a public car park and has been identified as a regeneration site within the Local Plan.
The new scheme would offer 90 student rooms, comprising 19 studios and 71 cluster beds, in a three and five storey development facing Canal Street, reducing to four floors as it continues around onto Pemberton Street.
A design statement for ‘Finley House’, submitted by ARC Design Studio on behalf of the applicant, reads: “The car parks low quality and lack of maintenance visually detracts from the street frontage. A new scheme which is of high quality will be attractive to prospective students, but also beneficial for the health and well-being of its occupants.
“The location is perfectly positioned for student housing due to its close proximity to Nottingham Trent University and the new University of Nottingham campus on the former HMRC site. It will also help to revitalise the local area by drawing interest further down Canal Street, and into the City Centre.”
