Most UK small businesses want to switch to electric vehicles but are held back by rising vehicle costs and electricity bills, new data from NatWest shows. Despite the research revealing that 81% of SMEs want to transition to green transport, the current economic conditions are delaying plans rather than causing them to be abandoned entirely. Of those looking to take their first steps into greener transport, only 40% plan to start within the next 2 years, highlighting the need for greater support to allow businesses to fulfil their climate ambitions sooner. SMEs are reporting that the price of electricity is a barrier for more than a quarter (28%), whilst vehicle costs are deterring a further third (32%). However, the business case for adopting electric vehicles appears to be the main motivator for SMEs looking to electrify their fleet (44%), however emissions reductions (40%) and sustainability concerns (36%) are also found to be key drivers in the move to greener transport. Recognising the barriers preventing SMEs from taking action to improve their sustainability, NatWest Group, through Lombard, has launched Green Asset Finance which gives businesses a way to finance assets that help to make their businesses more sustainable, such as electric vehicles. Since July 2021, Lombard has provided £1.3billion in climate and sustainable funding, to businesses transitioning to electric vehicles, hybrid vehicles, and other renewable assets, including those in the Agricultural sector. Commenting on the findings, Ian Isaac, Managing Director at Lombard, NatWest Group, said:  “It’s clear to see there is appetite among UK small businesses to transition to electric vehicles in order to both lower fuel costs, and make a significant contribution towards the nation’s climate targets. “However, the current economic climate and immediate cashflow concerns means that many SMEs feel they need to put plans on hold. We’d encourage any business looking to take that first step in their own sustainability journey to research the support measures available. “The first step on this journey is the hardest and it’s a big decision for businesses. But our research shows the intention to transition is there, and the sooner businesses take that first step, the sooner they will be able to see the benefits. At NatWest and Lombard, we can help them make sense of their business case even against the backdrop of increasing energy costs.” The bank is also working in partnership with energy tech company Octopus Energy to offer businesses EV charge points at discounted rates, and last year partnered with EV8 Technologies to launch the EV8 Switch app, which uses real world data to help drivers understand if switching to an EV makes economic sense for them. If it does, the bank can then offer funding to SMEs to allow them to spread the cost of transition to EV, through options such as contract hire. This allows businesses to have certainty around vehicle operating costs over a fixed period, as well as the option to regularly refresh their vehicles and adapt their fleet to meet changing business needs and guard against the risk of technology obsolescence. NatWest has recently begun offering Green Loans and Green Asset Finance to SMEs from £25,000, ensuring that more businesses can access funding to help transition to more sustainable practices such as electric vehicles, in turn reducing costs in the long term, all whilst supporting UK net zero targets. NatWest has also created a new Carbon Planner, a free to use digital platform designed to help UK businesses manage their fuel and operational costs and reduce their carbon footprint to help them go and grow greener. This includes providing a cost of transport overview that businesses can then use to build a business case for investing in their transition to net zero. Since launch around two-thirds of businesses that have used the NatWest Carbon Planner have produced a carbon reduction action plan for their business. The bank has recently also launched one of the UK’s biggest EV car parks at its Scotland headquarters at Gogarburn in Edinburgh, investing in 264 chargers for colleagues and visitors to charge their electric vehicle. The launch forms part of the bank’s aim to halve its own operations emissions by 2025.

The Leicestershire Business of the Year awards by East Midlands Chamber, saw Scope Construction, a fast-growing contractor for the residential and commercial sectors, crowned the Leicestershire Business of the Year. The Loughborough-based company – which provides construction, refurbishment and interior design services – also won the Outstanding Growth award at the Leicestershire Business Awards, which was held on Friday (4 November) in partnership with headline sponsor Mazars. Founded by Maz Patel and Paz Patel in 2015, the business has almost trebled its seven-figure turnover over the past 12 months, and expects to double it again this year after building a reputation mainly via word of mouth for its work on a range of projects including shop, restaurant and car showroom fit-outs, as well as home refurbishments. The Leicestershire Business Awards, recognised East Midlands Chamber members across 13 categories, ranging from Excellence in Innovation and Environmental Impact at organisational level through to individual honours for Entrepreneur of the Year and Apprentice of the Year, in addition to the overall Business of the Year winner. Finalists, chosen by a judging panel of the Chamber’s senior leadership and board of directors, as well as sponsors, discovered their fate during a gala dinner attended by hundreds of people at Leicester City FC’s King Power Stadium. Scott Knowles, chief executive of East Midlands Chamber, said: “The past few years have been challenging for our business community, and yet we continue to see so many shining examples of business success across our region. “It’s always important to celebrate these achievements and shout about the great things happening right here in Leicestershire. We know it is a fantastic place to do business and these organisations – many of which have worked together to maximise their impact within their sectors and communities – are doing a wonderful job. “Later this month, the Chamber will launch a Business Manifesto for Growth in the East Midlands and Beyond in Parliament that illustrates how our region is a Centre of Trading Excellence. Our Business Awards are full of companies that are living proof of this.” Money raised for East Midlands Chamber charitable fund The Leicestershire Business Awards – one of three awards hosted by the Chamber, along with Derbyshire and Nottinghamshire – were hosted by comedian Patrick Monahan. A raffle was held to raise funds for East Midlands Chamber president Lindsey Williams’ three chosen charities this year – Focus, Nottinghamshire Wildlife Trust and Treetops Hospice. Lindsey, chief executive of Coalville-based housing association Futures Housing Group, added: “Behind every nominee and winner whose name will go up in lights are people and organisations that are truly delivering for the region. Their achievements generate employment, wealth and opportunity not just for those directly connected, but for the wider community. “So I’m proud to see the Chamber yet again take the opportunity to bring us together and celebrate our top talent – for their success but also for what they bring to the East Midlands as a whole.” Winners of the Business Awards Business Improvement Through Technology  – Consultus International Group Community Impact – Leicestershire Cares Outstanding Growth – Scope Construction Excellence in Collaboration – BrightER Futures (De Montfort University and ER Recruitment) Environmental Impact – Michael Smith Switchgear Commitment to People Development – CR Civil Engineering Apprentice of the Year – Jessica Gould, CR Civil Engineering Entrepreneur of the Year – Jaz Kaur and Narinder Nijjar, Fraser Stretton Property Group Education and Business Partnership – Leicestershire Cares Excellence in Customer Service – Paradigm Wills & Legal Services Excellence in International Trade – Unimed Procurement Services Small Business of the Year – Creative62 Excellence in Innovation – The Simulator Company Business of the Year – Scope Construction

Businesses, organisations , community groups and the public are to have their say on the £1.14 billion devolution deal which councils are keen to press ahead with as they say it will offer the region a package of new powers and funding worth £1.14 billion. Derbyshire County Council, Nottinghamshire County Council, Derby City Council, and Nottingham City Council have all given the green light to a public consultation on devolution, so the public, businesses, community groups and other organisations will now have the chance to have their say about the deal, in a public consultation. The leaders of each of the four councils signed up to work on a devolution deal on 30th August this year at Rolls Royce in Derby, after the Government offered the region a package of new powers and funding worth £1.14 billion. Since August the councils have been working on agreeing a more detailed proposal for consultation, which includes more information about how devolution would work in our area. The deal would provide the region with a guaranteed income stream of £38 million per year over a 30-year period, and would cover around 2.2 million people, making it one of the biggest in the country. It would also mean a new regional mayor and new type of combined authority for the area, from 2024. The investment in this deal will bring with it many opportunities. We could see more jobs, better transport and housing, an enhanced greener environment, and more value for money of services provided for our people. The proposals that we’re consulting on are just the beginning, and we’re determined to build on it over time. I would encourage everyone to give us their views on the deal by taking part in the consultation. Barry Lewis, Leader of Derbyshire County Council, said: “Devolution is about getting a better deal for Derbyshire and the East Midlands and achieving a fair share for our region. It will bring us more money and mean we can make more meaningful decisions here, rather than in London.

“This deal will bring more and better jobs and opportunities for training, improve the local economy, result in better transport and housing, and accelerate our route to Net Zero. I encourage everyone to take part in the consultation and give us their views on devolution.

“A devolution deal, should it be agreed, would be the beginning, not the end. We’re determined to build on this deal over time, as other areas have done.

“Devolution can bring real benefits for local people, as it has done in other parts of the country. It will mean more funding for our region, and the opportunity to have more meaningful decisions made here, near the people they affect, rather than in London, so they can be better tailored to local needs. “This is an opportunity to create jobs, boost our economy, enhance transport, build more and better homes, improve our environment, and more, and we need to grab it with both hands. I don’t want our area to miss out on a chance to improve things for everyone who lives and works here. “Devolution can help us be more effective locally, make better use of public money, and most importantly, improve people’s lives. It would lay the groundwork for us to build on in the future, to benefit future generations. “I’d encourage everyone to take part in the consultation and give us their views on the devolution deal.” David Mellen, Leader of Nottingham City Council, said: “This deal has the potential to make a significant difference and local people would see the real benefits from the investment with more and better jobs, housing, training and much more. “For too long this region hasn’t had the investment it needed and deserves – by working on a deal we can start to address this, but this is just the start, and I will make sure that we get our fair share and make the most of this funding. “It would allow us to start to address the long-term under-investment in our region. It would give us more control over our own area, where local people would have a say in the region’s priorities rather than decisions made in London.” If the devolution deal goes ahead, it would create the first of a new type of combined authority, which requires new legislation from central government. As well as the £1.14 billion, it includes an extra £16 million for new homes on brownfield land, and control over a range of budgets like the Adult Education Budget, which could be better tailored to the needs of people in our communities. The devolution deal is a level 3 deal, which offers the most local powers and funding. It would mean a new elected regional mayor, like those which already exist in other areas, who would represent both cities and counties. The role of the mayor would be to look at major issues affecting the whole region, give the area a bigger voice, and take advantage of local knowledge and expertise. The deal means that a future mayor and combined authority could:

• Work towards Net Zero and cleaner air with new low carbon homes, retrofit existing houses with external wall insulation, promote the use of renewable energy, and protect and enhance green spaces, like areas for wildlife and green verges.
• Build on the region’s existing knowledge and expertise in green technology and promote the growth of a future low carbon economy by investing in related skills training at colleges and other training facilities.
• Set up and coordinate smart integrated ticketing and enhanced concessionary fares schemes.
• Work with Homes England to build more affordable homes, by using new powers to buy land and housing (With district and borough council consent).
• Enhance the region’s economy by developing new commercial space to maximise opportunities.
• Work with national government on initiatives to address homelessness, domestic abuse, community safety, social mobility, and support for young people.
• Take advantage of economies of scale by using combined and devolved budgets to deliver more value for taxpayers and more cost-efficient services.

The four councils sent initial proposals to negotiate a combined devolution deal in March, after being named as pathfinder areas by the Government in February and then being invited to apply for a devolution deal. The councils have been working with the Government to develop details of the deal, alongside discussions with district and borough councils, businesses, and other stakeholders. If the devolution deal is formally approved, the Government will pass legislation bringing a new combined authority for the East Midlands into existence. The first election for a regional mayor for Derby, Derbyshire, Nottingham, and Nottinghamshire, would be in May 2024. The regional mayor would lead the new combined authority, which would also include representatives from local councils, with decision making powers and resources moving from London to the East Midlands. Local businesses would also have a voice, as well as other organisations. The devolution deal would not mean scrapping or merging local councils, which would all continue to exist as they do now and would still be responsible for most public services in the area. The mayor and combined authority would instead focus on wider issues like transport, regeneration, and employment across both cities and counties. The public consultation about the East Midlands devolution deal is due to take place from 14th November until 9th January 2023.