Revenue rises at Watches of Switzerland

0
Leicester-based Watches of Switzerland Group has reported a strong third quarter with revenue on the rise. According to a trading update for the 13 weeks to 29 January 2023, revenue grew to £407 million, up from £348 million in the same period of the prior year. The company says this was driven by luxury watches, where demand continues to exceed supply. Brian Duffy, Chief Executive Officer, said: “I am pleased with our strong Q3 performance which is testament to our continued investment in leading showroom design, the strength of our brand partnerships, our scale, our dedication to omnichannel excellence, and our exceptional client service. “I would like to thank all my colleagues for their ongoing dedication and hard work especially during the Holiday period. Demand remains strong and continues to exceed supply, with client registration lists growing. We exited the quarter with good momentum and are pleased to reiterate our full year guidance. “Our expansion into Europe continued with the opening of our fifth mono-brand boutique, with OMEGA in Stockholm in the third quarter. Early trading remains positive, and we are excited to open our first mono-brand boutique in Dublin with TAG Heuer later this month. “Looking ahead, we remain confident that our strategy will further enhance our leadership position as we continue to deliver on our Long Range Plan objectives.”

Loughborough’s latest Town Deal funding boosts cash commitment still further

0

Nearly £3 million is set to be invested in Loughborough town centre to make it more attractive and safer for visitors thanks to a Loughborough Town Deal grant, adding to funds already committed.

The Town Deal Board has confirmed £2.87 million to support the Living Loughborough project which will see more events held in the town centre, investment in the town markets, expansion of the CCTV system and digital heritage trails added. Charnwood Borough Council is leading the project and will be working in partnership with Love Loughborough which will deliver some aspects of the scheme. Loughborough Town Deal is supporting 11 projects after securing £16.9 million of Government funding. In total, the projects are worth more than £40 million of investment for the town. The Town Deal Board is co-chaired by Cllr Jonathan Morgan, Leader of Charnwood Borough Council, and Dr Nik Kotecha, founder of Morningside Pharmaceuticals Ltd. Cllr Morgan said: “This is an exciting project for Loughborough, and I am looking forward to seeing it develop. It has many different aspects that will bring numerous benefits for the people who visit, work, trade and live in the centre of our beautiful, historic market and university town. Dr Kotecha said: “The town centre is crucial to our local economy and that’s why the Town Deal Board were keen to support the Living Loughborough project. It will help make our town even more vibrant and attractive to visitors and in turn generate footfall for local businesses.” Cllr Jenny Bokor, the Council’s lead member for Loughborough said: “Shopping habits have changed, and high streets need to adapt and innovate to ensure they can draw people in to support businesses. That’s why we have created the Living Loughborough project in partnership with Love Loughborough. “We are creating innovative digital trails for people to explore and investing in our historic markets. We will also be making Queen’s Park even more attractive and connected to the town centre. “The Living Loughborough project is packed with great ideas and thanks to the Town Deal we can now turn them into reality.” Lez Cope Newman, Chair of Love Loughborough BID, said: “I am so excited by the Living Loughborough project as I think it will be transformational for the town centre. The digital trails and events will help bring life and atmosphere while Love Loughborough will also be offering more support to businesses to help them flourish. “We are also keen to make our town centre a safe and inviting place. CCTV will be expanded but we will also be working with partners, retailers and those involved in the night-time economy to make sure visitors feel safe and secure when in town.” The Living Loughborough project includes:
  • the introduction of new interactive digital trails to encourage people to explore the town centre and its heritage. The trails will feature augmented reality which means they will be able to ‘see into the past’ using a mobile phone app.
  • holding more events
  • digital signage to showcase local events and information
  • investment in Loughborough Markets including:
    • the creation of a ‘plaza’ area with seating, lighting, and planters. The space will give more flexibility to be able to hold different types of events
    • improvements to the infrastructure of the market to include cabins which can be used all year round and an extension of the electrical supply for market traders
    • addition of a covered area in Southfields Park to hold events
    • the expansion of CCTV cameras in four locations to improve public safety
    • the creation of a new post with Love Loughborough to support crime reduction in the town centre including the purchase of 100 new radios for traders as part of the retail radio scheme
    • more 1-2-1 support for businesses on topics including using digital technology and marketing
    • improvements to Queen’s Park including to the entrances from Granby Street and Granby Street car park, the addition of new information points, new lighting to the bandstand and improved lighting of the Carillon Tower.
    • the addition of a canopy over a paved area outside the café at Charnwood Museum with improved lighting and seating
    • the expansion of free public wi-fi in the town centre to include Ward’s End, Devonshire Square, Bedford Square and Queen’s Park
So far, Loughborough Town Deal has already invested nearly £2 million in Loughborough to create a Careers and Enterprise Hub and to support the regeneration of Bedford Square, Ward’s End and Devonshire Square. It has also committed:
  • £2.6 million to create a Digital Skills Hub at Loughborough College
  • £835,000 to help save Taylor’s Bell Foundry, the last major bell foundry in the UK
  • £885,000 to fund towpath improvements alongside the River Soar
  • £1.6 million to a creative arts hub at the Generator
  • £2.5 million to support the Health and Innovative Loughborough project
  • £280,000 towards the creation of a heritage locomotive works and education centre at Great Central Railway
  • £669,000 for the Lanes and Links project including the Hope Bell
With the confirmed funding for the Living Loughborough project, Loughborough Town Deal’s committed investment has now reached almost £15 million.

Innovative Derby company presented with Queen’s Award

A Derby-based social enterprise company, which is run by disabled people for disabled people, has been formally presented with The Queen’s Award for Enterprise by His Majesty’s Lord-Lieutenant of Derbyshire Mrs Elizabeth Fothergill CBE and Deputy Lord- Lieutenant Tony Walker CBE. Nimbus Disability, based in Pride Park, has been recognised in The Queen’s Award Innovation category for the development of their Access Card scheme. The Access Card is held by more than 100,000 people in the UK and beyond who register their accessibility requirements. Powered by ‘NOS’, Nimbus Disability’s bespoke software, The Access Card system translates its holder’s disability/impairment/access requirements into symbols highlighting the barriers they face. When booking tickets online, the Nimbus Operating System informs providers quickly and discreetly about the access requirements that individuals need without sharing further information about them with the venue. This has vastly improved access for disabled people who previously had to provide benefit entitlement letters or invasive amounts of personal information each time they booked tickets for festivals, cinemas, sports matches and more. The Access Card is already widely recognised at major venues across the UK and beyond including Buckingham Palace, Westminster Abbey, The London Eye, Disneyland Paris, The O2 Arena and Alton Towers. Notable overseas venues which have recognised and responded to cardholder needs include The Louvre in Paris, The Uffizi Gallery in Florence and Chicago’s Willis Tower. The company created the bespoke Access Card under the leadership of Martin Austin MBE who has been an amputee since his diagnosis of cancer as a teenager. He said: “As disabled people ourselves, our mission at Nimbus and with our Access Card scheme is to provide a universal, digitised way of communicating all verified access requirements, from eligibility to companion tickets to the necessity for wheelchair-accessible facilities. “Our system enables each access requirement flagged to be integrated directly into ticketing systems to remove the need to continually call ‘special’ booking lines’ and fill in ‘special’ booking forms or answer personal and invasive questions over the phone. “Ultimately our operating system lessens the administrative burden on disabled people at the same time as opening up equality of access to online ticketing solutions from West End theatres to theme parks.” Mr Austin continued: “It was a huge honour to be awarded the Grant of Appointment by the Lord-Lieutenant on behalf of The King and I am proud to accept this award on behalf of our fantastic and dedicated team. “This is the highest and most prestigious award that can be granted to a business in the UK and we are very proud to now be displaying The Queen’s Award emblem. “Since we received notification of the award, we have welcomed a wealth of new corporate clients to the scheme and a marked increase in the number of new Access Card applications. “With this recognition and the increased profile for the Access Card, our goal is to continue to break down the barriers facing all disabled people not just here in the UK but worldwide.” The Nimbus Disability team were joined at the Grant of Approval ceremony by early adopters of the Access Card including The Ticket Factory which was the first company in the UK and one of the first in the world to offer a true online sales experience for disabled customers. General manager Gareth Coleman explained: “Working with Nimbus through The Access Card means that our team do not need to have awkward conversations with customers about their accessibility requirements. “Our partnership ensures the right tickets are sold to the right people and that we are able to provide all of our customers with the online service they want. “Our partnership is a literal godsend for everyone involved and I am proud that we are at the forefront of this service for disabled people.” The event also heard from Tom Pursglove MP, Minister of State for Disabled People, who pre-recorded a message. He said: “Nimbus is doing fantastic work in providing businesses with expert advice on how to better meet the needs of disabled people. This specialist knowledge is vital in increasing accessibility for disabled people across a range of sectors. “The award is well deserved and I look forward to hopefully working with Nimbus in the future to continue making a meaningful difference to disabled people’s lives.” After the formal presentation, guests met some of the staff and volunteers who operate the Access Card system and saw the process in action. Mrs Fothergill concluded: “Nimbus Disability were one of only 48 companies nationally to be recognised with The Queen’s Award for Enterprise in Innovation last year and should be congratulated on this prestigious achievement. “The Access Card is a life-enhancing innovation and this award recognises it as an outstanding British brand.”

Newark firm to install up to 380 smart meters at former Hallmark card factory

Newark-based WilSon Energy, a provider of Heating, Metering, Pre-Payment and Billing & Bureau Services for residential homes and commercial developments, has undertaken the first phase of a smart meter installation at a former factory in Bradford. In phase one, WilSon Energy has been appointed to install 150 smart meters on a private electricity network, as part of a complete renovation of the one-time Hallmark card factory, which is undergoing a major refurbishment into 380 residential units, to be known as The Printworks. The developers delivering the scheme were experiencing issues with a lack of transparency around metering information, billing details and were not able to access charging and consumption data for electrical energy usage. Many tenants had previously complained about incorrect bills, queried energy usage and the management team were finding it difficult to manage billing. As well as installing the private energy network and smart meters, the firm will support the landlord with a complete meter monitoring, billing and bureau service and a customer excellence team. Andy Wilkinson, CEO at WilSon Energy, said: “WilSon Energy stepped in to offer support and find a solution to the challenges the property developers were facing in 2022. By putting in a private electricity network with dedicated smart meters, which provides access to an online portal with real time data, we can put landlords and tenants in control of their energy supplies and help with invoicing. “Our dedicated billing and bureau team is on hand to support landlords and property managers with data to inform decision making, while the smart meter and Pay as You Go system offers tenants multiple ways to pay and top up credit through a committed customer service team and resident portal.” A spokesperson from the property management company added: “With the previous system, deployed by a former contractor, we were not receiving management data, had issues with incorrect billing and lack of control over the energy supplier. Residents were understandably unhappy about receiving incorrect or sporadic bills. “With support from WilSon Energy we are in a position to roll out the latest technology to residents which will provide a myriad of benefits, including accurate readings and a more cost-effective solution for utility bill management, ultimately helping our tenants to monitor and manage their energy usage.” The first phase of installation is now complete, with the remaining dwellings in phase two to be fitted in mid 2023 when rest of renovations are due for completion.

Permanent staff appointments in the Midlands fall at quickest rate for two years

The KPMG and REC, UK Report on Jobs: Midlands survey, compiled by S&P Global, showed that recruitment activity declined at the start of the year as firms were often hesitant to commit to new staff hires amid a weaker economic climate. Notably, permanent placements fell at the steepest rate for two years, while temp billings declined for the fourth time in the past five months. Candidate shortages also contributed to the drop in hiring activity. Staff availability continued to fall sharply across the region in January, most notably for short-term staff. Competition for scarce workers and efforts to fill vacancies – which rose further in January – led to sustained upturns in starting pay. The KPMG and REC, UK Report on Jobs: Midlands is compiled by S&P Global from responses to questionnaires sent to around 100 recruitment and employment consultancies in the Midlands. Stronger decline in permanent staff appointments The number of people placed into permanent roles across the Midlands fell for the third time in the past four months in January. Notably, the rate of contraction accelerated to a substantial pace that was the quickest recorded for two years. It was also the steepest seen of all four monitored English regions. Recruiters that posted a fall in permanent placements often linked this to the weak economic climate and candidate shortages. At the national level, permanent staff appointments fell for the fourth straight month. Though solid, the rate of reduction was the softest seen over this period. After expanding for the first time in four months in December, billings received from temp staff hires in the Midlands declined in January. Though only modest, the reduction contrasted with increases in temp billings across the three other monitored English regions. Notably, billings rose at the strongest pace since last September across the UK as a whole, albeit one that was modest overall. Anecdotal evidence indicated that billings for short-term staff fell due to greater caution among clients due to the weaker economic outlook as well as low candidate supply. Demand for permanent staff in the Midlands continued to rise at the start of the year. The rate of vacancy growth quickened slightly on the month and was sharper than that seen at the national level. That said, the upturn remained softer than the long-run trend. Temporary job openings also expanded markedly, though growth softened from that seen in December and was below the series average. Nevertheless, the upturn was slightly quicker than that seen across the UK as a whole. Downturn in temp candidate numbers accelerates Recruitment consultancies based in the Midlands signalled a sharp and accelerated reduction in temp candidate supply at the start of 2023. Furthermore, the rate of deterioration was the sharpest seen in five months and the quickest of all four monitored English regions. There were reports that candidates often preferred the stability of permanent roles, while candidate availability was also hampered by skill shortages. The seasonally adjusted Permanent Staff Availability Index signalled a second successive monthly fall in permanent candidate numbers in the Midlands during January. The rate of decline eased slightly on the month, but remained sharp overall and exceeded the UK-wide trend. Concerns over the economy and job security had reportedly deterred potential job seekers, while Brexit and a low unemployment rate were also cited by recruiters as limiting candidate supply. The Midlands and the North of England posted the joint-steepest drop in permanent candidate numbers. London was the only monitored English region to see an improvement in permanent candidate supply. Starting salary inflation slips to 23-month low Average salaries awarded to newly-placed permanent staff in the Midlands increased further in January, thereby stretching the current sequence of rising pay to 23 months. Though marked overall, the rate of growth eased to the softest seen over this period and was weaker than those seen across the three other monitored English regions. According to panellists, starting salaries had increased amid efforts to attract candidates and fill vacancies. Average hourly pay for short-term staff in the Midlands rose for the twenty-sixth month in a row during January. Furthermore, the rate of growth quickened to a five-month high and was slightly stronger than the national average. Where higher rates of temp pay were registered, recruiters often attributed this to greater competition for scarce workers. Commenting on the latest survey results, Kate Holt, people consulting partner for KPMG in the Midlands said: “January saw permanent staff appointments fall at the quickest pace in two years, with demand for skilled staff continuing to outpace availability across the Midlands. “With the cost of living continuing to place upwards pressure on pay, job security causing low candidate supply and employers relying on temporary staff as permanent placements decline again, the jobs market remains volatile. “Recruiters and employers should be thinking creatively about how to attract and retain permanent hires to bring about stability, including by taking on more apprentices across a range of age groups, and investing in upskilling and reskilling their existing staff.” Neil Carberry, Chief Executive of the REC, said: “January’s recruitment activity suggests that speculation about a shallower economic downturn may be justified. Temporary pay growth has quickened as supply of short-term workers has fallen sharply. This means the rate of pay growth in the Midlands increased to a five-month high and was stronger than the national average. “Underpinning a sense of optimism, vacancies increased for both temporary and permanent roles in January. While this will reflect activity that may have been delayed from the autumn, it is another sign of firms feeling confident to hire, even if they are leaning more to temporary hiring than normal in this uncertain environment. That is the power of our temporary work market – it gives us a way to ensure firms can grow and people can build their careers even when the picture is uncertain. “The need to address the fundamental challenges our labour market faces has not changed with the turning of the year. From skills to tackling economic inactivity, and from immigration to childcare there is much that can be done in partnership with business to help our economy grow and workers to prosper. Ahead of the Budget, the Chancellor should put the people stuff first across the whole of government. Every department has a role to play in getting growth going – and that starts with enabling our labour market.”

Round table with private sector partners identifies key business priorities for Leicester

Leicester City Council and Leicestershire County Council met with private sector businesses including IM Properties, Commercial Estates Group, Strata Living, Charles Street Buildings Group and Hickman and Smith in the first of a series of collaborative round table events. At the first session, held at Space Park Leicester, partners identified marketing the place, unlocking growth, meeting housing demand, achieving net zero and planning to support growth as key priorities to progress that will support investment and sustainable growth across the city and county. The aim of the round tables is to focus on specific topics impacting growth and inward investment in Leicester and Leicestershire, and discuss how the public and private sector can work together to reflect on successes and constructively challenge issues, leading to positive outcomes for businesses and residents in the city and county. Richard Sword, Strategic Director for City Development at Leicester City Council, said: “It’s critical that communication lines are open between the council and our partners in the property industry. The City Mayor, Sir Peter Soulsby has delivered significant regeneration in the city over recent years with more large-scale regeneration planned in the future. “We can only realise the city’s ambitions with the help and support from our partners. It was an insightful first round table session, discussing some meaningful issues on key topics, alongside some meaningful industry insights around the challenges faced in our region.” Tom Purnell, Assistant Chief Executive at Leicestershire County Council, said: “We have ambitious growth plans, and we know that partners are key to shaping and delivering our vision. “Thanks to the hard work and collaborative relationships between our public and private sectors, Leicester and Leicestershire offer new houses, excellent transport links and skilled people that attract some of the biggest global brands.” A further four round tables are due to be held in the coming 12 months in the city and county’s drive to continue their partnership working with the private sector.

Optimistic Midlands SMEs target 2023 growth

0
Midlands SMEs are set for a boost with increased turnover and improved cashflow, new Paragon Bank research has found. The research found that 62% of Midlands SMEs expected their Q1 2023 turnover to be higher than twelve months ago. Carried out by Opinium, the research also found that cashflow is also set to improve for Midlands SMEs during 2023, with 56% predicting increases between Q1 and Q2 and only 15% predicting expecting cashflow to tighten. Anticipated improvements to cashflow and turnover has led to optimism for the year ahead, with 54% of Midlands SMEs confident about the future – above the national average of 50%. Confidence in their own business is greater than that for the UK economy as a whole. Of those surveyed, only 34% of Midlands SMEs expressed confidence on how the economy will perform – but this increased to 62% when considering the sector in which they operate. The optimism of Midlands SMEs in their businesses is matched by planned investment in their operations, including:
  • Existing premises (90%)
  • Commercial vehicles investment (89%)
  • R&D (88%)
  • Staff development (71%)
  • IT/technology investment (70%)
  • Staff recruitment (68%)
  • Fleet or director vehicles (67%)
  • Machinery/equipment investment (45%)
While the research findings identify both the optimism and resilience of SMEs it also identified the challenges presented by the high inflationary environment of 2022 with increases to:
  • Equipment (85%)
  • Fuel for vehicles (84%)
  • Raw materials (83%)
  • Employee salaries (81%)
  • Production costs (73%)
  • Vehicle maintenance (71%)
  • Employee benefits (63%)
  • Premises cost (60%)
Peter Pike, Paragon Bank SME Lending Regional Director, said: “With plans for investment and optimism for the year ahead, Midlands SME are once again rising to the challenge of supporting the regional and national economy. Expected improvements to both cashflow and turnover create the conditions for increased business – and it is vital that businesses have access to financing to support their growth ambitions. “SMEs looking to invest should also take assurance from the availability of financing from specialist lenders, such as Paragon – and we are ready to work with them to find solutions that will support their growth ambitions in the years ahead.” John Phillipou, Paragon’s Managing Director of SME Lending, said: “With expectations for growth and plans to invest in their businesses, SMEs are ready to help the economy recover from the challenges of recent years. It is clear from the research data that SMEs are optimistic and resilient, and it is therefore vital that they can continue to access the financing required to support their growth plans.”

Construction work begins on new 6th Form college in Corby

0
Work has started on transforming Chisholm House in Corby into a new state of the art campus, for 16 – 18-year olds, ahead of its opening in time for the start of the Autumn term. Once completed, the 40,000 sq ft Corby Sixth Form will offer a range of A Level subjects and comprise an impressive new entrance, more than 25 classrooms, state of the art science labs, resource centres and performance areas. The students will be able to enjoy an external roof terrace, a modern café and common room areas – all in a town centre location. The design will embrace the current style of the building and has been designed to run as carbon neutral. The new campus is being delivered in partnership between The Bedford College Group and North Northamptonshire Council. The 6th Form will be run by The Bedford College Group from Autumn 2023. Cllr David Brackenbury, the council’s Executive Member for Growth and Regeneration, said: “It was great to visit the site and see work progressing on the new Corby Sixth Form. This project is one of four across the town which fall under the Corby Towns Fund and aims to encourage economic growth in the local area, benefitting not just the pupils that attend but also the wider Corby area. “I look forwarding to visiting again once the site is open to students and to see the full range of facilities on offer.” The project is being facilitated through the Corby Towns Fund, which sees the Corby area receiving £19.9m from central Government for four projects, including the new sixth form centre. The Bedford College Group’s Head of Sixth Forms Helen Smith said: “The Group’s pioneering 6th Form at Bedford has been a resounding success and has sent 1,000s of young people on to university and other progression opportunities such as Higher and Degree Apprenticeships. We hope our Corby 6th Form will replicate those fantastic opportunities for young people in Northamptonshire.”

Off-market deal sees 9,000 sq ft let at Nottingham industrial park

0
Commercial property specialists Landa Associates have completed an off-market deal to let 9,000 sq ft of space at Moorgreen Industrial Park to local family business Prosign Print & Production Limited. Acting on behalf of Wistow Properties, Sunny Landa FRICS, director of Landa Associates, brokered the lease on Units 3 & 4 Harry’s Court. Prosign, which provides large format printing, POS, and display products, has expanded into the units following a period of growth which has also seen it invest heavily in new machinery and technology. The move has enabled the company to broaden its offering to include vehicle wraps and exhibition stands. Prosign’s headquarters in Moorgreen was built to high specification around 20 years ago. Both units boast 6m eaves, with the premises also benefitting from a sizeable yard and 20 parking spaces. Sunny Landa said: “I’m delighted to have secured this deal for my clients Wistow Properties. It’s clear that economic headwinds aren’t adversely impacting the industrial market, and this deal shows that by knowing your market you can still achieve great results. I’m incredibly pleased for my client and, of course, for Prosign, who are a fantastic family business.” Steve Hardy, Managing Director of Prosign Print & Production Limited, said: “I’d like to thank Sunny for all of his hard work on this deal. He was a joy to work with and made the process seem effortless. By taking the lease on these units we’ve really put a marker down. Prosign is here to stay and we’re looking forward to taking the business to the next level here in Moorgreen.” A spokesperson for the landlord, Wistow Properties, added: “We are also very happy to secure such a great tenant in Prosign. It was a pleasure to do business with Steve and we wish the company every success in their new home.”

Diverse Academies gets ‘in principle’ approval for Edwinstowe school

0
The Diverse Academies Trust has been given ‘in principle’ approval to sponsor a proposed new 210-pupil primary free school at Thoresby Vale, Edwinstowe. David Cotton, chief executive officer for Diverse Academies, said: “We are absolutely thrilled to have been given the opportunity to lead on the development of this new school. Core to our mission as a multi-academy trust is placing the community at the heart of what we do and, in close partnership with our local authority colleagues, we are looking forward to bringing this plan to reality.” Cat Thornton, chief education officer at Diverse Academies, added: “Our Trust has extensive primary education experience. This new school will benefit from an excellent leadership team who are keen to create an inviting, vibrant curriculum for the children of Thoresby Vale – and in a setting where we can nurture their curiosity, develop their wellbeing and help them to go beyond their aspirations.” Councillor Tracey Taylor, Nottinghamshire County Council’s Cabinet Member for Children and Families, said:“I’m very pleased that Diverse Academies Trust has been given approval to sponsor the new primary school in Edwinstowe. The council is committed to making sure there are sufficient high quality school places for children in Nottinghamshire and this is good news for the community.” “I look forward to the project getting underway and to working with the Trust to deliver a new school for the families of Nottinghamshire.” Plans for the new ‘forest school’ style building have been submitted by the developer, Pegasus Group. Subject to approval, the school will be built on a former colliery site currently being transformed to include a new 350-acre country park with 800 new homes, a local centre and commercial space, and will offer places for children from reception class to Year 6.