Nine in ten mid-sized businesses halting growth plans due to difficulty accessing capital

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Nine in ten mid-sized businesses halting growth plans due to difficulty accessing capital

Midlands businesses are being forced to put the brakes on growth plans, as nearly nine in ten companies (88%) admit difficulty in accessing capital is impacting their business.

According to BDO LLP’s bi-monthly Economic Economy survey of 500 mid-market businesses, over a quarter (27%) of regional companies are struggling to finance expansion plans, with nearly a quarter (23%) finding it difficult to invest in the technology or software they need to improve the business. More than a fifth (22%) admit that a shortage of funding means they’re facing the prospect of having to make redundancies or scale back the business.

The survey by the accountancy and business advisory firm, also highlighted the ongoing challenges facing Midlands businesses. Over the next six months, record levels of inflation will continue to blight regional companies, with over a third (35%) saying higher overheads and increased operating costs are their number one concern.

As businesses in the region contend with a growing list of problems, the task of covering higher operational costs is one of the top business priorities for more than a quarter of regional companies (28%), with a further 28% also looking to offshore as much of their supply chain as possible, in a bid to tackle the disruptions being faced. In addition, nearly a quarter (22%) intend to restructure their workforce, including making redundancies, as Midlands companies look to take action over the next six months.

Kyla Bellingall, regional managing partner at BDO in the Midlands, said: “As a result of the tough economic conditions that continue to hamper regional businesses, companies are facing a real need to raise funds within the next two years, in order to kick-start their growth plans.

“Against a challenging backdrop, Midlands businesses are having to explore every option when it comes to raising additional finance, with many struggling to access the capital they need. For nearly a third, the equity capital markets are the most appealing source of funding, with revenue-based finance and Government support schemes also high up on the list.”

Mid-sized companies, which employ eight million people and provide around a quarter of UK jobs according to further research, are now calling on the Government to support them with rising costs and improve access to capital to make the UK a more appealing place to do business.

Bellingall added: “So far, mid-market businesses in the Midlands have shown real grit and determination to fend off the challenges that continue to rain down on them.

“However, many are reaching tipping point. The need for greater capital is critical for a significant proportion of businesses, not just to finance growth plans, but also to address key issues such as investing in staff retention, repaying debts, improving salaries and, importantly, recruiting new employees with the right skills and experience.

“Midlands businesses cannot tackle these challenges in isolation. Business leaders in the region believe more can done be to address their concerns, to help to drive growth, and to ensure the UK remains an attractive place to do business.”

BlueSkeye AI wins national technology award

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BlueSkeye AI wins national technology award

Nottingham-based AI startup Blueskeye AI, which is developing software to help pregnant women monitor and improve their mental health, has won a national technology award for its work.

The company was named “Emerging Tech of the Year,” by UK tech network, Digital Leaders. BlueSkeye was chosen from a shortlisted field of ten competitors for the award at a ceremony at the Royal Armouries in Leeds on Thursday evening, 22 June. The Award recognises the development of an innovative technology, design or process that has produced a major improvement in business performance and impacted the market. BlueSkeye, a spin out from the University of Nottingham, uses AI to analyse minute changes to people’s face and voice over time which can reveal the early tell tale signs of depression. The technology has developed from 18 years of research by founding CEO professor Michel Valstar. The technology has been used by 200,000 mums so far and the company is working with Nottinghamshire NHS Trusts to undertake clinical trials. Collecting the award for BlueSkeye AI, professor Valstar said: “We’re absolutely thrilled and delighted for BlueSkeye to be recognised for its innovative use of machine learning to help clinicians, patients and their friends and families assess, treat and monitor mental health. “UK Mental Health is in crisis, around 1 in 5 women experience a perinatal mental health problem and our technology addresses this significant need. We are developing software to the highest, clinical, standards to support clinicians, mums and mums to be. “Winning shows how far we’ve come since our foundation in 2019. It’s a testament to the hard work and talent of our whole team and a validation of the work we’re doing.” The Digital Leaders Awards, now in their eleventh year, are designed to celebrate the 100 leading individuals and companies who are working to secure the UK’s digital transformation.

Reward the achievements of property and construction firms at the East Midlands Bricks Awards 2023

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Reward the achievements of property and construction firms at the East Midlands Bricks Awards 2023
Providing an ideal opportunity to shout about your business’s achievements, enter the East Midlands Bricks Awards 2023 NOW – ahead of nominations closing on Thursday 31 August. The prestigious event, organised by East Midlands Business Link Magazine, is an independent awards and publicity programme recognising development projects and people in commercial and public building across the region – from office, industrial and residential schemes, through to community projects such as leisure schemes and schools. The annual awards attract leaders from throughout the East Midlands and are the perfect way for businesses to promote themselves and those they work with. Indeed winning one of these awards will add considerably to a company’s or individual’s brand and enhance their commercial reach significantly. Award categories include: most active estate agent, commercial development of the year, responsible business of the year, residential development of the year, developer of the year, deal of the year, architects of the year, excellence in design, sustainable development of the year, contractor of the year, and overall winner. Winners will be revealed at a glittering awards ceremony on Thursday 28 September, at the Trent Bridge Cricket Ground – an evening that will also provide plenty of time to forge new contacts with property and construction professionals from across the region.

After winning the most active agent award at last year’s event, Amy Bidell, director at Mather Jamie, said: “Apparently this category had so many entries that whittling it down to the three finalists was really hard to do, but we were told that we were chosen as the outright winner because of the our impressive track record of supporting clients to maximise the value of their property assets for the longest timeframe.

Victoria Golborn, Mather Jamie, Amy Bidell, Mather Jamie, Sue Alland, Mather Jamie, and Rob Day, Blueprint Interiors

“Judges were also impressed by our commitment to the community, particularly our fundraising efforts during our 30th anniversary year when over £55,000 was raised for local charities.”

She added: “It would not be right to accept this award without giving credit to everyone in our commercial, development and agricultural teams who have worked so hard to make this award win possible by providing a high level of strategic land development advice as well as rural and commercial agency and property management services.”

To nominate your (or another) business/development for the East Midlands Bricks Awards 2023, please click on a category link below or visit this page:
The Overall Winner of the East Midlands Bricks Awards 2023 will also be awarded a year of marketing/publicity worth £20,000.
Find out who last year’s winners were here.

Book your tickets now

Tickets can now be booked for the East Midlands Bricks Awards 2023 – click here to secure yours. The special awards evening and networking event will be held on Thursday 28 September 2023 in the Derek Randall Suite at the Trent Bridge Cricket Ground from 4:30pm – 7:30pm. Connect with local decision makers over canapés and complimentary drinks while applauding the outstanding companies and projects in our region, and hear from Mike Denby, Director of Inward Investment and Place Marketing at Leicester City Council, our keynote speaker. Dress code is standard business attire. Thanks to our sponsors:                                                             To be held at:

Lincolnshire businesses’ support for teachers could lead to national scheme

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Lincolnshire businesses’ support for teachers could lead to national scheme

Lincolnshire businesses are to welcome in seventy teachers to share experience of business and industry and improve young people’s career opportunities.

Branston, Catch UK, CITB, CorrBoard, eComOne, Inzpire Ltd, Orsted, Plum Products, Ruddocks, Seafox Management Consultants, Serco, SRC UK, and Tong Engineering will host visits by 26 teachers, with the objective of bringing skills and workplace experience into the classroom and enrich the curriculum.
It’s part of the Teacher Encounters programme delivered by the Greater Lincolnshire Local Enterprise Partnership and the Careers & Enterprise Company, offering half-day experiences to help teachers to develop a stronger knowledge of their subject area through real world industry experience. The scheme is part of a new national pilot programme bringing together 1,000 teachers and 200 businesses across England, allowing them to enrich teaching practice and share knowledge about skills gaps and labour market information with students and parents. Lee Douglas, Strategic Hub Lead of the Careers Hub at the Greater Lincolnshire LEP, said: “We have delivered the Teacher Encounters project in collaboration with award-winning businesses, world leaders in their sectors which are operating at the cutting edge of innovation and technology. “It is crucial that teachers can have meaningful experiences with employers in Greater Lincolnshire. These experiences are designed to inspire teachers, enabling them to make vital links to their curriculum area of expertise and pass vital careers related information to their students.” Oli de Botton, Chief Executive of The Careers & Enterprise Company, said: “Teachers are powerful sources of careers inspiration for young people – through the conversations they have and the curriculum they teach. “One of the ways we can support them is by bridging the worlds of business and education and giving teachers meaningful encounters with employers. “Done well, these encounters can inspire teachers, students and employers. Teachers can see at first hand how local businesses work, including the routes in like apprenticeships. Students can benefit when teachers bring this insight into their lessons, linking learning to workplace skills. And employers can learn more about the workforce of the future. “This pilot is an opportunity to bring careers education further into the mainstream of school and college life and build on the enthusiasm we know is there from business to better support schools and from teachers to support their students to take their best next step.”

Work progresses to transform historic Northampton pub

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Work progresses to transform historic Northampton pub
Work is well underway to regenerate the Grade II listed Old Black Lion as a public house, community asset and new home to the Churches Conversation Trust. Over the next six months The Churches Conservation Trust will be working with Midland Conservation Limited and the Friends of St Peter’s Church, in partnership with West Northamptonshire Council, to transform this former derelict pub into a vibrant hospitality venue and community hub for residents in Marefair, and across the town. Two months into the extensive construction programme, progress can be seen on the Northampton ironstone walls where modern masonry paint and cement mortar has been removed and replaced with lime mortar and, in places where the stone had deteriorated, new stone. The windows have also been repaired. These works require highly skilled stonemasons and joiners. Enabling and demolition works took place last summer and now the main conservation repair works have begun; a third contract for fitting out the pub and offices will follow. Cllr Daniel Lister, West Northamptonshire Council’s Cabinet Member for economic development, town centre regeneration and growth, said: “It was fantastic to visit the Old Black Lion pub on Tuesday to see first-hand the progress that has been made already to sympathetically bring this derelict former pub back into use for our local community. “The building is a real focal point for the local area and once complete, this asset will form part of the wider gateway into the town, complementing the Marefair Heritage Park and deliver a hub for residents at the heart of the community.” Hannah Parham, Regeneration Project Manager, the Churches Conservation Trust, said: “The aim of the project is to restore the Old Black Lion as a pub, open for business and once again serving the local community. The refurbished pub will provide hospitality for visitors and volunteers at St Peter’s Church, supporting the work of the Friends of St Peter’s Church and encouraging beneficial uses of the church for concerts, performances and events.” This work will be complemented by the Marefair Heritage Park once the redevelopment is complete, to fully celebrate and capitalise on the heritage of the area and the Northampton Castle site. The project will cost £3.5m, of which £3m is capital expenditure. CCT was awarded a National Lottery Heritage Fund Enterprise Grant of £1,841,800 in 2016; in November 2022, this was augmented by £794,405, to reflect rising costs. Funding has also been granted by HM Treasury’s Towns Fund, West Northamptonshire Council, the Architectural Heritage Fund and West Northamptonshire Development Corporation. The project has received £315,000 of Towns Fund support, and the delivery is supported by the Northampton Forward Board and forms part of the Marefair ‘Heritage Gateway’. West Northamptonshire Council has provided £370,000 in match funding and S106 contributions. The refurbishment should be completed by Spring 2024, with the publican opening the pub shortly afterwards.

£9m development set for Blackwell

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£9m development set for Blackwell
Bolsover District Council is set to spend £9m on redeveloping Woburn House and the nearby bungalows in Blackwell after planning permission was approved. The plans will see the assisted living facility, bungalows and community centre on Woburn Close demolished and replaced with 15 bungalows, eight houses, a 20-flat independent living building and a brand new community facility. Cabinet Member for Housing, Councillor Sandra Peake, said: “This is a significant investment and re-iterates our commitment to looking after older and vulnerable people, whilst also providing a much-needed community facility. It will be of huge benefit to local residents in the area as there will be a mixture of properties to meet a local demand. “A significant element of the scheme is the new community centre that will provide local residents with a modern facility where local events and celebrations can be held and give community groups with a place to meet.” The scheme is part of Bolsover District Council’s £36m Bolsover Homes project which is aimed at building new council houses for affordable rents across Bolsover District. The scheme uses Bolsover District Council land by replacing end of life, unfit for purpose dwellings, with new homes that exceed today’s living standard whilst benefiting the District’s economy through training, skills development, and local supply chain. Councillor Peake added: “All the new properties will be modern, energy efficient and adaptable for people with disabilities. It’s important that we keep building bungalows and accommodation for our ever-growing older population and that we keep building social properties for the benefit of our residents.” It is anticipated that phase one of the redevelopment will start soon which will involve disconnecting the services such as the gas and water, with work due to start on site fully in spring 2024.

Eurocell secures Polyframe partnership

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Eurocell secures Polyframe partnership
Eurocell, the manufacturer, distributor, and recycler of PVC-U building products, has welcomed Polyframe as one of their fabricator partners. Based in Norwich and Stonehouse, Gloucestershire, Polyframe has been supplying fabricated fenestration systems for over 30 years and has chosen to join with Eurocell to ensure long-term security and reliability in supply and service. As a Eurocell customer, Polyframe will benefit from Eurocell’s ‘Grow With Us’ ethos, receiving technical support and expertise from dedicated teams, continual focus on investment in new machinery, services and products, as well as business development support to propel growth. In addition to their existing offering, Polyframe, will now be able to offer a wider range of PVC-U with the Eurocell Logik System. Eurocell’s PVC-U profiles contain high levels of recycled content; partners can benefit from the carbon savings this provides and are able to communicate these to customers – as part of their commitment towards a more sustainable future. Phil Walker, Polyframe Managing Director, said: “Eurocell is a well-respected and long-standing business with similar vision and values around service and support to that of Polyframe. We are delighted to be partnering with them to provide our combined benefits to our customers. “Eurocell has a detailed understanding of the Future Homes Standard and other potential legislation changes, and we are well placed to work with Eurocell long into the future to provide our customers with sustainable and innovative systems. “I can assure customers that Polyframe will offer the same high levels of product quality, consistency of supply and levels of service with the new Eurocell options – all delivered in an industry-leading time of five days.” Andy McDonnell, commercial MD at Eurocell, said: “We are pleased to be starting this new partnership with Polyframe, a well-trusted leading fabricator in the fenestration industry that champions our values and dedication to high-quality product and service. “Our best-in-class support means Polyframe will have the tools required for sustainable growth as part of our ‘Grow With Us’ ethos, and we can guarantee a smooth transition with minimal disruption so Polyframe can continue doing what they do best for their customers. “Our recent investments in infrastructure and enhanced partnership approach mean we are well placed to continue to deliver value and quality to all of our customers whilst continuing to grow.”

Lockwood have only gone and done this…

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Lockwood have only gone and done this…
Lockwood is a huge, family-owned company based here in the East Midlands, offering haulage, warehousing and co-packing services. They have a large, modern fleet ranging from 7.5 – 44 tonne vehicles along with warehousing capacity for hundreds of thousands of pallets. To promote the co-packing part of their business, Lockwood were looking for a professional video and they hired our local recommended production company, Glowfrog (www.glowfrogvideo.com). A full explainer video has now been created to demonstrate Lockwood’s cost-effective, innovative & timely solutions to your contract packing needs. With Lockwood being such a big local company, it is clear to see that professional video production is a key, important part of marketing strategy. Mark Graham, Group Service Director at Lockwood, said: “We required a new high quality video to promote our co-packing services and, having found Glowfrog online, they clearly appeared to be the best choice of video production company locally. “We found that they are great people to work with, providing detailed customer support throughout the process from start to finish. Glowfrog Video Production also provided us with a bonus shorter video for our social media channels, at no extra cost – we are really happy with their services.” If you’re looking for a highly recommended and local video production company for your video marketing, visit www.glowfrogvideo.com.

Midlands SMEs plan for growth through investment

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Midlands SMEs plan for growth through investment
Midlands SMEs are ready to ramp-up investment, with fresh spending on assets, Paragon Bank research has found. Published alongside An SME Led Recovery, a survey of SMEs from across the UK identified growing expectations for cashflow to improve – leading to increased investment by businesses in their operations. The first in a series of quarterly research reports that will track the sector, An SME Led Recovery details the performance, plans and ambitions of SMEs, highlighting the central role they play in the regional economy. As part of the research, specific data on the Midlands was collected – providing insight into the position of SMEs across the region. Cashflow and turnover set to improve Conducted for Paragon by Opinium, the research found that 60% of Midlands SMEs predict that their cashflow will improve over the next three months and 58% are expecting an increase over the next year. Only 36% had seen their cashflow increase over the previous three months. Similarly, turnover is also set to improve – 55% of Midlands businesses reported increased turnover during the first quarter of the year, with 44% expecting turnover to further improve during the second quarter compared to 24% that forecast a fall. Investment on the increase Over a third of Midlands SMEs (41%) will use the increased cashflow to increase investment in their businesses, with 49% planning to maintain current investment levels and only 6% expected to reduce spending. Equipment and machinery lead the planned investment of SMEs, with 46% and 39% of all SMEs in the region planning to invest in each respectively. The renewed investment will also see 23% of Midlands SMEs investing in electric vehicles over the next six months – higher than the proportion set to in invest in traditional fuel vehicles, alongside a small reduction in those firms investing in HGVs. Confidence strong in business prospects Midlands SMEs have expressed confidence in the prospects for their own businesses and the sector in which they operate but were less confident about the macro environment. Over half said they were confident in their own business (64%) and their sector (55%) in the next three months – compared to only 28% who expressed confidence in the wider UK economy. SMEs seek finance The research also found that 44% of Midlands SMEs sought additional financing over the last three months, with 56% of those businesses seeking over £100,000. While 5% of this group received no additional financing, 24% received all the financing they sought and a further 15% secured a partial amount. Commenting on the research findings for the Midlands, Peter Pike, Paragon’s regional director for the region, said: “With plans for increased investment and expectations for improved turnover and cashflow, Midlands SMEs are ready to deliver economic growth in the region and beyond. As our new research shows, they are confident and seeking investment – and after the challenges that have faced over recent years, this is a clear indication of the strength of our SME sector.”

Gateley makes new Nottingham office promotions

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Gateley makes new Nottingham office promotions
Legal and professional services group Gateley has announced its latest round of promotions, which includes six people from its Nottingham office. Alexander Parkes – a real estate lawyer, has been promoted to partner, continuing his work within the real estate team, while Helen Webster has been promoted to legal director in the employment team. Natasha Walker from Adamson Jones, Gateley’s dedicated patent and trademark practice, has been promoted to senior associate. Additionally, three of the Nottingham team have been promoted to associate, with Natasha Cole promoted in the employment team, Andrew Dennis in the private client team and Anna Thomas from residential development. Andrew Macmillan, partner and head of Gateley’s Nottingham office, said: “Congratulations to all those who have received a promotion this year. Our clients expect the best level of service from Gateley and those who have received promotions have all continuously demonstrated a desire to go above and beyond to fulfil the needs of the businesses we support. “At Gateley we are committed to the development of our emerging talent and it gives me an enormous sense of pride to see those promoted continue to thrive here in Nottingham.” A total of 61 promotions were announced across Gateley including six new partners and one Of Counsel, two technical directors, one land consultant, one principal surveyor, nine legal directors, 16 senior associates and 25 new associates are also included in the latest promotions list. In addition to Nottingham, the promotions span Gateley’s offices in Birmingham, Belfast, Dubai, Guildford, Leeds, London, Manchester and Reading.
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