Asian-founded SMEs contribute £25bn but face systemic barriers

April Lara
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Asian-founded SMEs contribute £25bn but face systemic barriers

Asian-owned businesses contribute an estimated £25 billion to the UK economy and make up more than 6% of all SMEs, according to research by De Montfort University Leicester and Barclays Eagle Labs. The study involved 125 interviews with entrepreneurs, business leaders, and support organisations across England and Wales.

Findings highlight consistent obstacles to growth, including cultural attitudes towards debt and risk, investor bias, limited access to elite business networks, and challenges in securing finance. The research recommends tailored investment products, accelerator programmes, and targeted business support to address these barriers.

The Asian Founders Network, established in 2023 by DMU and Barclays Eagle Labs, has engaged over 1,000 entrepreneurs through events, roundtables, and networking sessions. The initiative aims to enhance recognition of Asian founders’ contributions and provide access to resources that support scaling and innovation.

The report highlights the potential for policymakers, investors, and business support organizations to boost economic growth by removing structural barriers for underrepresented entrepreneurs.

Eurocell “resilient” in subdued trading conditions

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Eurocell “resilient” in subdued trading conditions

Eurocell plc, the manufacturer and distributor of door and window products to the trade, has reported a “resilient” financial performance, against subdued trading conditions.

According to results for the six months ended 30 June 2025, revenue increased to £193.2m, up from £175.7m in the same period last year.

Adjusted profit before tax, meanwhile, was down 3% at £7.8m, which the firm said reflected higher finance costs following its acquisition of Alunet. Eurocell noted that its full year outlook is now below previous expectations, “with trading conditions remaining subdued and continuing macroeconomic uncertainty impacting key markets.”

Darren Waters, chief executive of Eurocell plc, said: “Our first half financial performance was resilient, in the context of trading conditions that remain subdued. We delivered an increase of 9% in adjusted operating profit despite lower organic volumes, thanks to a strong contribution from Alunet and effective cost control. Our cash generation was solid and our financial position remains strong.

“We have continued to invest to maintain momentum with our strategy, and have made further progress across a broad range of initiatives. The acquisition of Alunet in March is a compelling strategic fit for Eurocell and the business has performed very well.

“While demand in our core RMI market remains sluggish, we have seen some modest early signs of an improving picture in new build housing, albeit from a very low base. We are therefore continuing to focus on cost reduction and operational improvements to drive efficiency and mitigate against the impact of delayed market recovery.

“Whilst the full year outlook is below our previous expectations, the medium and long-term growth prospects for the UK construction market remain attractive and we are well positioned to drive sustainable growth in shareholder value.”

Konsileo’s Nick Taylor-Ward sponsors the East Midlands Bricks Awards 2025

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Konsileo’s Nick Taylor-Ward sponsors the East Midlands Bricks Awards 2025
Nick Taylor-Ward ACII, Chartered Insurance Broker and Client Director at Konsileo, has announced his sponsorship of the East Midlands Bricks Awards 2025, celebrating excellence across the East Midlands property and construction sector. With over 30 years of specialist experience advising developers, contractors, property investors and professionals on all aspects of risk and insurance, Nick has built a reputation for delivering trusted guidance and tailored protection. Konsileo, independent whole-of-market insurance broker, combines state-of-the-art insurtech systems with a unique teal management model. This approach enables brokers to offer clients the very best of both worlds: competitive pricing powered by technology, and highly personal, face-to-face service grounded in deep sector expertise. Backing the Excellence in Design category, Nick Taylor-Ward commented on the sponsorship: “Supporting Bricks 2025 is a natural fit. It’s a fantastic opportunity to celebrate the strength of the region’s property and construction community, while highlighting the importance of risk management in ensuring sustainable growth and success.” To find out more about Konsileo, click here, or contact Nick Taylor-Ward at nick.taylorward@konsileo.com or +44 797 60 90 701. The eagerly anticipated East Midlands Bricks Awards 2025 will take place on Thursday 2nd October (4:30pm – 7:30pm) in the Derek Randall Suite at the famous Trent Bridge Cricket Ground, showcasing the region’s property and construction industry while providing a prime opportunity to connect with local decision makers over nibbles and complimentary drinks. A key event in the business calendar since 2015, the glittering awards ceremony will additionally feature Councillor Nadine Peatfield – Leader of Derby City Council, Cabinet Member for City Centre, Regeneration, Strategy and Policy, and Deputy Mayor of the East Midlands, as keynote speaker.

Tickets can now be booked for the event – click here to secure yours.

Attend to forge new contacts and see who takes home Most Active Agent, Commercial Development of the Year, Responsible Business, 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. The Overall Winner of the East Midlands Bricks Awards 2025, sponsored by SEV, will also be awarded a grand prize – a year of marketing/publicity with Business Link worth £20,000, with the opportunity to split or gift the marketing to a charity of their choice.

With the shortlist now announced, see who the finalists are here.

The East Midlands Bricks Awards 2025

What: The East Midlands Bricks Awards 2025 When: Thursday 2nd October (4.30pm – 7.30pm) Where: Derek Randall Suite, Trent Bridge Cricket Ground, Nottingham Keynote speaker: Councillor Nadine Peatfield – Leader of Derby City Council, Cabinet Member for City Centre, Regeneration, Strategy and Policy, and Deputy Mayor of the East Midlands Tickets: Available here Dress code: Standard business attire Don’t miss this opportunity to connect with property and construction professionals while applauding the exceptional companies and projects in the region. Thanks to our sponsors:                                                                              

To be held at:

Derby law firm expands with significant Yorkshire acquisition

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Derby law firm expands with significant Yorkshire acquisition
Derby law firm Flint Bishop has exchanged contracts to acquire the entire business of Lupton Fawcett LLP, which has offices in Leeds, Sheffield, and York. The transaction, due to complete at the end of September, represents a major milestone in Flint Bishop’s growth strategy. The deal results in Flint Bishop acquiring the business and assets of a well-established Yorkshire-based law firm with complementary expertise, significantly enhancing its capabilities across commercial, employment, dispute resolution & litigation, property, and private client services, while also introducing new specialisms such as criminal & regulatory, ecclesiastical law, and intellectual property.  Upon completion, Flint Bishop will retain all three Lupton Fawcett offices, substantially expanding its footprint across the north of England. Combined with its headquarters in Derby and existing offices in Birmingham, Leeds, and Swansea, the firm will employ over 420 staff and is projected to generate annual turnover well in excess of £40 million.  The transaction follows Flint Bishop’s record-breaking financial year for 2024/25, which saw revenue growth of 53% year-on-year to £31.9 million.   Qamer Ghafoor, chief executive of Flint Bishop, said: “Our latest acquisition is a transformative step in our growth journey, enhancing our capabilities, broadening our geographic reach, and allowing us to deliver even greater value to our clients. “Lupton Fawcett has a proud heritage and an outstanding reputation, and we look forward to welcoming our talented new colleagues in Leeds, Sheffield, and York, supporting them with exciting career and development opportunities.” James Richardson, managing partner of Lupton Fawcett, said: “Joining Flint Bishop represents an exciting new chapter for both our people and our clients. The cultural alignment and shared commitment to excellence made this a natural fit. “This move ensures continuity and stability for our existing clients, while creating considerable opportunities for growth in Yorkshire and across the wider north of England as part of a truly national law firm.” Deal advisory services were provided by PKF Smith Cooper. David Nelson, transactions and advisory services partner, said: “We were delighted to provide Deal Advisory Services and support to Qamer Ghafoor and the Executive team at Flint Bishop on their recent acquisition of Lupton Fawcett. “We wish Flint Bishop every success with the integration of the Lupton Fawcett team and clients and seeing the continued growth and success of the wider business as it continues to scale and enter new territories and markets nationally.”

UK steel sector faces push for consolidation

April Lara
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UK steel sector faces push for consolidation

The UK government is exploring options to consolidate the country’s steel industry, which currently comprises six major producers. Four of these companies are receiving government support amid financial strain caused by high energy costs, global steel oversupply, and tariff pressures.

Officials in the Department for Business and Trade are prioritising private-sector-led solutions, seeking potential buyers rather than pursuing nationalisation. Recent government interventions have included taking temporary control of British Steel in Scunthorpe and Speciality Steels UK following financial collapses, while Tata Steel in Port Talbot received a £500 million rescue package to support its transition to low-carbon production. Sheffield Forgemasters was nationalised by the Ministry of Defence in 2021 after prolonged financial difficulties.

Speciality Steels UK has shifted to electric arc furnaces, and the government is covering wages and operational costs while negotiating with commercial buyers. British Steel remains under government oversight as negotiations continue with Chinese owner Jingye, which has requested a substantial sum to transfer ownership.

Government sources indicate a strategic preference for closer collaboration between all UK steel producers and long-term consolidation to strengthen financial resilience. Officials stress nationalisation is not the intended approach, and any merger would require agreement from current company owners.

Ministers are engaging with domestic and international stakeholders to secure a sustainable future for the UK steel sector while maintaining private-sector involvement.

Wavensmere Homes secures prime regeneration site near Nottingham Railway Station

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Wavensmere Homes secures prime regeneration site near Nottingham Railway Station
Wavensmere Homes has been selected to bring forward the Waterway House site, accessed off Crocus Street, just south of Nottingham Railway Station and tram stop. The prime residential development opportunity has been promoted through the planning process by Rainier Developments and Strategic Land, with full consent granted by the City Council last year. The 0.25 ha island site is bordered by Waterway Street to the south, Newthorpe Street to the east, Crocus Street to the north, and with an area of public realm and the tram line to the west. The existing site comprises Waterway House – a vacant 1970s two-storey office building with around 750 sq m of floorspace – and cleared hardstanding areas. Previously owned by Nottingham City Council, the site has lain largely vacant and unoccupied since 2021. James Dickens, managing director of Wavensmere Homes, said: “Nottingham has been a key target for us for several years, but the site needed to be right. Our Nightingale Quarter development is moments away from Derby Train Station, while Canalside South is next to Wolverhampton Transport Interchange. “Given its sustainable city centre location – by the train station and tram stops – we are very excited about the potential for the Waterway House site, which is a genuine gateway into Nottingham’s city core. It’s the opportunity we’ve been waiting for and we’re delighted to be selected by Rainier to take this site forward.” Wavensmere has appointed architects Corstorphine and Wright to work up new plans for a residential scheme to be delivered by the Birmingham-headquartered regeneration specialist. Public consultation on the new design proposals is expected to take place before the end of this year, prior to a planning application being submitted. Richard Mees, chief executive of Rainier Developments and Strategic Land, said: “Wavensmere’s reputation for delivering complex city centre regeneration schemes shone through when we were undergoing our developer selection process. “The scale and setting of the Waterway House site has the potential to make a much needed contribution to Nottingham’s housing shortfall, while also transforming the street scene and driving investment into this quarter of the city centre. “Attracting a Midlands-based housebuilder who has accrued such a stellar national reputation is good news for Nottingham’s residential market. We very much look forward to seeing Wavensmere’s plans evolve over the coming months.”

Derbyshire and Nottinghamshire firms offered growth support

April Lara
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Derbyshire and Nottinghamshire firms offered growth support

Businesses in Derbyshire and Nottinghamshire with a track record of at least 20% annual growth over the past three years can access a new programme providing tailored academic and business support alongside funding opportunities.

East Midlands Chamber delivers the High Growth Academy on behalf of the East Midlands Combined County Authority (EMCCA) in partnership with the University of Derby, University of Nottingham, and Nottingham Trent University. It forms part of the High Growth Accelerator project, funded with £450,352 from the UK Shared Prosperity Fund.

The programme includes workshops designed for different growth stages. Early-stage businesses can attend sessions on sales, leadership, and emerging markets, while established firms can focus on governance, organisational structure, and performance management. Monthly High Growth forums offer access to industry experts and peer networking, with the first event scheduled for 6 November covering strategy, systems, and scaling operations while maintaining a human-centred approach.

Additional support options include one-to-one guidance from High Growth Advisers, innovation vouchers of up to £5,000 for specialist university support, student placement funding of up to £2,000 for eight-week internships, and training bursaries of up to £2,000 to attend the Chamber’s Commercial Training courses.

Space firms invited to host student micro-interns

April Lara
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Space firms invited to host student micro-interns

Space Park Leicester is seeking UK space sector companies to host undergraduate micro-interns this autumn through the University of Leicester’s Micro-Internship Programme. The placements run from October to November 2025 and involve students contributing eight to ten hours per week over four weeks on defined projects designed to deliver tangible business outcomes.

Interns can support activities across satellite applications, Earth observation, data science, space hardware, and downstream commercialisation. Projects may include digital analysis, technical research, content development, or feasibility assessments. Businesses can choose to host interns in-person, remotely, or through a hybrid model.

Space Park Leicester operates as a collaborative hub connecting industry and academia, focusing on research, enterprise, and education in space and Earth observation. Companies taking part in the programme gain access to student expertise on specific business challenges while contributing to workforce development in the UK space sector.

Businesses interested in hosting a micro-intern should register by Friday, 5th September 2025. Detailed application guidance will be provided upon registration.

APSS

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APSS
Since 1997, businesses across the UK have trusted APSS to redesign, fit out, and refurbish their offices, retail spaces, healthcare facilities, schools, and industrial interiors. That’s over 10,000 projects delivered, each one focused on making the best use of space and boosting productivity for the people who work in it. Based in Lincolnshire, APSS supports organisations of every size — from big brand names like Siemens, Wren Kitchens, Octopus Energy and Slimming World, to local charities and independent businesses, always with the same collaborative approach. Together with its customers, APSS creates workspaces that are innovative, efficient, and memorable. APSS offers full office design and refurbishments, bespoke joinery, glass or steel partitions, mezzanines, and office furniture, providing the expertise to bring your vision to life. It also takes care of external shell works, for a complete transformation all under one roof. You’ll see APSS’s impact in spaces across the region, from a fresh and inspiring HQ for Slimming World, to a luxury private dining and games lounge at Bainland Lodge Retreats, and high-tech university learning spaces at Loughborough University. The specialist design and fit out company has also recently released expert guides for office relocation and office refurbishments, full of practical advice, handy checklists, and top tips. If you’re ready to get more out of your workspace, start here: www.apss.co.uk

BFY Group strengthens senior leadership

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BFY Group strengthens senior leadership
BFY Group, Nottingham-based specialists in energy and utilities, has expanded its leadership team with the appointment of Mark Hewett as director and Chris Thoms as client director. Both bring deep expertise in driving major transformation projects in the UK’s energy and utilities sectors and will lead BFY’s Networks Team – a key growth area for the firm as it expands its capabilities in network infrastructure at a time of unprecedented industry change. Under their leadership, the Energy Networks team will continue to help clients unlock opportunities through improved asset management, network operations, customer experience, and regulatory strategy – strengthening resilience and accelerating the transition to a low-carbon, customer-focused future. Mark Hewett joins BFY after a successful career in consulting, most recently serving as vice president and energy networks portfolio lead at Capgemini UK plc. With over 30 years’ leadership experience, including nearly two decades as a British Army officer, Mark specialises in energy transition, transformational change management, and designing and delivering complex programmes. Mark said: “Joining BFY at such a pivotal time for the energy sector is incredibly exciting. Organisations are under enormous pressure to meet regulatory, customer, and decarbonisation goals, often simultaneously. BFY’s blend of deep sector expertise, practical consulting capability, and genuine partnership is exactly what’s needed to turn strategy into delivery – and I look forward to helping clients achieve meaningful, lasting results.” Chris Thoms joins BFY from his most recent role as director at Capgemini Invent, bringing over 20 years of leadership experience across consulting and operational roles, including service as a military engineer in the British Army. He works with clients to translate strategy into well-structured change initiatives, optimise portfolios for maximum impact and lead large-scale transformation programmes. Chris said: “BFY’s reputation for delivering exceptional results comes from its ability to combine hands-on industry experience with consulting excellence. I love empowering leadership teams to deliver transformations, realise their potential and sustain change long after their programme ends.” Ian Barker, managing partner at BFY Group, welcomed the new hires: “Mark and Chris are outstanding additions to our senior team. Their depth of expertise, proven leadership, and ability to shape and deliver complex transformations will bring significant benefits to our clients. By leading our Energy Networks Team, they will play a central role in helping BFY support the industry as it navigates the once-in-a-generation challenge to deliver a reliable, low-carbon future.”
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