7 in 10 business leaders are concerned about cyber attacks

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7 in 10 business leaders are concerned about cyber attacks
In the wake of Russia’s invasion of Ukraine and the shift to hybrid working, the Institute of Directors has found that 72% of business leaders view cyber risk as a significant concern for their organisation, with 58% believing that the risk of a cyber attack on their organisation has increased.
In its poll of nearly 600 directors, the IoD also found that:
  • 54% believe that every board member has enough expertise to understand the potential impact and value of cyber security in respect of their organisation
  • 61% state that their organisation has appropriate controls and monitoring mechanisms in place which assure them that their cyber security measures are effective
  • 46% state that their organisation ensures that cyber security is considered in every business decision
  • 54% state that their organisation has an incident management plan in place for cyber attacks
  • 46% state that their organisation is able to access cyber insurance cover
Dr Roger Barker, the Institute’s director of policy, said: “The results of our survey provide evidence that many businesses are taking cyber security seriously. However, a higher level of awareness and expertise is needed on boards of directors in view of the unprecedented shift to home working and heightened geopolitical tensions. “Hybrid working is here to stay. However, a remote workforce brings with it enhanced cyber risks, with employees relying on their home networks – and sometimes their own devices – to complete tasks. Companies have not yet fully adjusted to this reality. “Furthermore, cybersecurity authorities have warned that Russia’s invasion of Ukraine exposes organisations both within and beyond the region to increased malicious cyber activity. “A significant proportion of IoD members are concerned about their ability to access cyber insurance cover. During the last year, cyber insurance rates have increased significantly, and there are uncertainties around what is and isn’t covered by insurance, particularly with respect to exposure to state-sponsored cyber attacks. “The National Cyber Security Centre is a key source of guidance for companies seeking to address current cyber challenges. In particular, the NCSC’s toolkit for board members represents an essential reference point for directors in their oversight of cyber security.”

Northamptonshire geological instruments firm snapped up in £80m deal

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Northamptonshire geological instruments firm snapped up in £80m deal
Judges Scientific, the group focused on acquiring and developing companies in the scientific instrument sector, has acquired Geotek Holding Limited and Geotek Coring Limited (together Geotek), a Northamptonshire-based developer and manufacturer of instruments used to measure and log various characteristics of geological cores and a supplier of related services. The total consideration for Geotek is up to a maximum of £80 million plus excess cash, consisting of an initial cash consideration of £45 million, paid on completion and further contingent consideration of up to £35 million to be satisfied through a mixture of cash and new ordinary shares in the company. The cash consideration for the acquisition is being financed from a new £100 million club facility led by Lloyds Banking Group alongside Santander UK and Bank of Ireland. Geotek specialises in high resolution, non-destructive analysis of geological cores to enable university researchers, mining companies and oil and gas operators to analyse, record and digitise information about cores they have extracted, through its proprietary range of Multi Sensor Core Logger (MSCL) instruments. Geotek comprises three divisions of broadly similar sizes consisting of: an instrument development and manufacturing business (Instruments), a core logging service business (MSCL services), and a gas hydrate business (Coring). Alex Hambro, chairman of Judges, said: “This is the group’s twentieth, and largest, acquisition. Geotek is a world leading business in a focused global niche, providing top-quality products and services which are essential for the improvement of geophysical knowledge. “This cash generative and earnings enhancing acquisition fits within Judges’ disciplined acquisition strategy and we are delighted to welcome Peter, Quentin and Tony and all their colleagues to the Judges family.”

Accountancy firm relocates to North Derbyshire

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Accountancy firm relocates to North Derbyshire
An accountancy firm originally based in Sheffield has relocated to larger 1,250 sq ft premises on Rotherside Road in Eckington to meet the continued demand for its services. Number Crunchers Ltd. specialises in providing accountancy services to small to medium sized businesses (SMEs) in the local region. The company has also hired two new team members that will specialise in cloud bookkeeping and payroll creating local jobs in the area. Founded by Isabella Callaghan in 1996 and with Chris Pheasey BA (Hons) MAAT ACMA CGMA joining in 2006, Number Crunchers has been successfully supporting SME’s including sole traders, start-ups and Limited companies in the local region for over 26 years. Isabella Callaghan, Managing Director of Number Crunchers, says: “We are very excited to be moving to larger premises in Eckington and taking on new staff to strengthen our team. The new offices are an important step in the company’s future growth. I started Number Crunchers in 1996 as a Sole Trader and I still get a thrill about what we do today. “My ethos has always been to treat each client’s business as if it were my own and to take the fear and mystic out of accountancy. As we enter a new digital age in accountancy, we are fully committed to supporting our clients as they make the transition to Making Tax Digital.”

Nominate outstanding projects and businesses NOW for the East Midlands Bricks Awards 2022!

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Nominate outstanding projects and businesses NOW for the East Midlands Bricks Awards 2022!
It is time to submit your nominations for East Midlands Business Link’s esteemed Bricks Awards! Shine a light on your team and reward their hard work. The East Midlands Bricks Awards celebrate the region’s property and construction industry, its people, and outstanding developments. 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 15 September, at the Trent Bridge Cricket Ground – an evening that will also provide plenty of opportunities to forge new contacts with property and construction professionals from across the region.

William Crooks, Managing Director of Cawarden, reflected on winning an award at the 2021 event: “After being named Contractor of the Year at the British Demolition Awards at the start of September, we were absolutely thrilled to win the same accolade from the East Midlands Bricks Awards a few weeks later.

“The event is a real showcase for the regional property and construction sector and we are proud to be recognised for our project and service delivery expertise as a leading specialist contractor. It was a great night and provided an opportunity to catch up with some familiar faces as well as meeting new with the wonderful Trent Bridge Cricket Ground as a backdrop.

“Well done to the Cawarden team for continuously going above and beyond and maintaining high standards for our valued clients. Congratulations must also go to all the other awards finalists and award winners on the night.”

To submit a business or development for the East Midlands Bricks Awards 2022, please click on a category link below or visit this page.
The Overall Winner of the East Midlands Bricks Awards 2022 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 awards event – click here to secure yours. The special awards evening and networking event will be held on 15 September 2022 in the Derek Randall Suite at the Trent Bridge County Cricket Club 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. The event will also welcome John Forkin MBE DL, Managing Director at award-winning investment promotion agency Marketing Derby, as keynote speaker. Dress code is standard business attire.
Thanks to our sponsors:                                      

To be held at:

Plans submitted to convert Nottingham office building into student scheme

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Plans submitted to convert Nottingham office building into student scheme
Plans to convert a Nottingham office building into student accommodation have been submitted to the City Council. The proposals for Pearl Assurance House on Friar Lane would see 140 bedrooms created on the 2nd to 9th floors of the building.
There will be no change to the retail units at lower ground floor and upper ground floor levels or to the residential apartments at first floor level.
Pearl House was constructed in 1962, designed by architects Evans, Cartwright & Woollatt. The building consists of a 2-3 storey podium which fronts onto Friar Lane and Wheeler Gate, with an eight storey tower which is set back from Wheeler Gate. The 2-3 storey podium accommodates retail units, a car park and residential units. The application follows approval in March 2017 for the conversion of the 2nd to 9th floors into residential apartments.

Corporate insolvencies double year-on-year

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Corporate insolvencies double year-on-year
The chair of the Midlands branch of insolvency and restructuring trade body R3 is urging directors of the region’s businesses to seek advice if they are concerned about their businesses, as corporate insolvency figures in England and Wales more than double compared to this time last year. Latest data published by the government’s Insolvency Service show that while the 1,991 companies entering insolvency in April is a 6% decrease on the previous month, administrations have risen by 115.2% compared to April 2021’s figure of 925. R3 Midlands chair Eddie Williams, a partner at PwC in the East Midlands, said: “These statistics reflect the continued toll the economic turbulence is taking on our local business community. The boom many were hoping for when pandemic restrictions ended simply hasn’t happened. The UK has moved from one damaging set of economic stressors to another with no time to draw breath. “Local businesses are trying to trade amidst rising inflation, a contracting economy and consumer confidence at a near historic low – lower than during the peak of the pandemic – due to cost of living concerns. Alongside this, rising fuel and energy costs and demands for increased wages from employees mean that it’s a challenge simply to break even at the moment, especially for those businesses who are still reeling from the pandemic. “Despite such serious challenges, the number of administrations suggests that there are several insolvent businesses which still have some prospect of rescue, given this is one of the main statutory purposes of the administration process. Wherever possible, the insolvency profession will work to secure the rescue of businesses in administration to help ensure better outcomes for the company, its staff and its creditors. “Now is the time for directors to be alert to the signs of financial distress and to take the necessary action. We know how hard it is for a director to admit that their business is struggling, but seeking early professional advice is likely to result in a far better outcome than waiting and allowing the problem to spiral.”

Landfill concerns see 165-home proposal refused

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Landfill concerns see 165-home proposal refused
Councillors have refused plans for 165 homes in Glen Parva after developers failed to show how plans could accommodate potential landfill gas mitigation measures. An application to build 165 homes on land off Cork Lane, Glen Parva was given outline approval in 2016. A Reserved Matters application was received by Blaby District Council in 2019 which sought approval for the appearance, landscaping, layout and scale of the development. In this application, the developers changed the originally agreed approach to contamination in the outline planning application. The new approach would see the source of the contamination left in place, with the dwellings and their associated infrastructure designed in a way that protects them from the contamination below. Concerns were raised for the safety of the surrounding neighbours and the future occupiers of the site. Following the appointment of an independent landfill gas consultant to analyse the information provided, five years of additional data gathering was recommended to inform what gas mitigation would be required. The independent report also concluded the site’s layout could not be approved until these mitigation measures were known. Whilst the rest of the application is deemed acceptable, Blaby District Council’s planning officers recommended the application for refusal as these issues were “…not outweighed by the material considerations in favour of approving the scheme, including the delivery of 165 dwellings…and the economic benefits of the construction process and occupation of the dwellings.” The application was refused by members of Blaby District Council’s Planning Committee at its meeting on Thursday 19 May. Councillor Louise Richardson, Planning Committee chair, said: “We were pleased to support the officer’s recommendation to refuse this proposal. Members of the Committee were greatly concerned that nowhere near enough had been done to understand if the plans could accommodate future mitigation measures of this former landfill site. “We hope this sends a message to residents and developers that anyone who wants to build on landfill sites must present robust and acceptable plans. We will not gamble these potential benefits for long-term health risks.” The refusal of this Reserved Matters application also means that the original Outline planning permission has now expired unless the applicant chooses to appeal or legally challenge the Council’s decision.

Approval for next phase of Nottingham’s major Island Quarter development

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Approval for next phase of Nottingham’s major Island Quarter development
Plans for the next phase of Nottingham’s major Island Quarter development have been given the go-ahead. Phase 1B of the Island Quarter includes a mixed-use commercial development comprising an 18 storey, 223-room hotel, 247 build-to-rent apartments (86 two-bed apartments, 154 one-bed apartments and 7 studio apartments), co-working office space, retail uses, and new areas of permanent and temporary public realm.
Conygar are behind the proposals which involve a site to the north of The Great Northern Close, with the Low Level Station (Virgin Active) and Great Northern Warehouse Grade II listed buildings to the south.
Development of the ‘Canal Turn’ mixed commercial use building by the applicant is underway to the west of the site, which is adjacent to the Nottingham Canal and basin. The NHS Urgent Care Centre (Seaton House) and Equinox House offices are to the north. To the east is vacant land forming part of the larger Island Site.

Derbyshire battery storage project acquired

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Derbyshire battery storage project acquired
Bluefield Solar the London listed income fund focused on acquiring and managing renewable energy and storage assets predominantly in the UK, has acquired two standalone 40 MW battery storage projects from Green Hedge Energy UK Limited for approximately £4.5 million. The acquisition represents the development rights, grid connection costs and the leasehold of land for the two projects, which are based in Derbyshire and Worcestershire. Both projects are fully consented, benefit from near-term grid connections and the construction of the projects is expected to commence in 2022. John Rennocks, chairman of Bluefield Solar, said: “We are delighted to have acquired these two significant battery storage developments from Green Hedge, which we look forward to building. Energy storage has a key role in supporting the decarbonisation of the electricity system in Great Britain. “Once operational, it is intended the assets will be able to participate in a variety of valuable services to support the grid and to enable the company to further diversify its revenue streams. The Board and our Investment Adviser continues to carefully assess a strong pipeline of opportunities across both primary and secondary markets.”

169-bed student scheme approved in Nottingham

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169-bed student scheme approved in Nottingham
Plans for a new purpose-built student accommodation development, at 2A Triumph Road, Nottingham, have been approved. The scheme consists of 169 student bedrooms, in 25 cluster flats and 34 studios, with associated amenity facilities. 76 cycle parking spaces and four car parking spaces would be provided within the site.
The site currently hosts a large single storey building sub-divided in two units which front onto Triumph Road. One is occupied by a yoga studio/cafe and the other is a car dealership. The area at the front of the units is used for parking. There is also a single storey industrial outbuilding at the rear of the site, currently used by a taxi rental company. The rest of the site is a hardstanding parking/storage/service area.
The application proposes the demolition of the existing buildings.
DPP Planning submitted the application on behalf of Cassidy (Triumph Road) Ltd.
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