Confidence falls but outlook remains positive for East Midlands firms
Business confidence in the East Midlands dropped 12 points during March to 22%, according to the latest Business Barometer from Lloyds Bank Commercial Banking.
Companies in the region reported lower confidence in their own business prospects month-on-month, down 17 points at 30%. When taken alongside their optimism in the economy, down nine points to 14%, this gives a headline confidence reading of 22%.
Despite the fall in confidence, businesses reported plans to target new growth opportunities in the next six months, including evolving products and services offers (43%), utilising new technology to improve operations (29%) and investing in training and development for staff (24%).
The Business Barometer, which questions 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.
A net balance of 13% of businesses in the region expect to increase staff levels over the next year, down seven points on last month.
Overall UK business confidence dropped 11 points during March, from 44% to 33%. Firms’ outlook on their future trading prospects (down from 45% to 34%) and optimism in the economy (down from 43% to 32%) both fell by 11 points on February’s reading. The net balance of businesses planning to create new jobs decreased by six points to 32%.
Every UK region and nation reported positive confidence readings in March, with the exception of Wales which saw confidence drop from 29% to -5%. Only London (up 13 points to 60%), Yorkshire and the Humber (up six points to 57%) and the North West (up one point to 45%) reported a higher reading than last month, with London now the most optimistic region overall.
Dave Atkinson, regional director for the East Midlands at Lloyds Bank Commercial Banking, said: “East Midlands businesses haven’t been immune to the ongoing challenges arising from surging prices and the war in Ukraine, both of which sadly show no signs of resolution in the near future. All companies across the region will now be looking to steady the ship ready to deal with the challenges ahead.
“We’ll work with local businesses to make sure they can look to the future with more optimism and give them the support they need to tap into these growth opportunities.”
From a sector perspective the impact of the war in Ukraine appears to have had the greatest impact on manufacturing and retail firms. Both sectors saw drops in confidence of 19% from February’s highs (to 35% and 28% respectively). From a manufacturing perspective confidence levels are now at their lowest since last summer, while retail has fallen to a one-year low.
In the other sectors, services dropped by six points (32%) while construction dropped eight points to 43%, but remained higher than at the start of the year.
Hann-Ju Ho, senior economist for Lloyds Bank Commercial Banking, said: “March’s data shows UK businesses are facing significant challenges from the impact of Russia’s invasion of Ukraine in increasing economic uncertainty and ongoing inflationary pressures. Following encouraging improvements at the start of the year, March’s fall in confidence is therefore disappointing, but not surprising.
“There are positives with the fact that confidence remains above the long-term average and it appears for now that growth will moderate. But it is difficult to gauge what the full impact will be and therefore businesses have become more cautious.”
April “flashpoint” threatens small business futures as eviction protection and sick pay rebate end
The Federation of Small Businesses (FSB) is warning that the futures of thousands of small businesses and sole traders are at risk as a raft of new admin requirements and cost pressures hit over the coming days.
Its intervention follows Office for National Statistics figures showing that Covid infection rates are soaring, and close to one in seven (14%) businesses are not currently fully trading. Research by the body published earlier this month indicated that 5% of businesses, the equivalent of more than 250,000 firms, fear imminent collapse.
Protection from eviction for commercial tenants came to an end last week, the day after an SSP rebate scheme for small businesses closed a week ago today.
Changes taking effect for small businesses imminently include:
- The requirement to pay all VAT deferred in the period to June 2020 under Covid reliefs in full (Today, 31 March)
- An end to the 12.5% VAT rate for the hospitality sector; the requirement to make all VAT returns MTD compliant; an increase in the National Living Wage rate for over 23s to £9.50; a reduction to the 66% business rates discount for high street businesses and first payment of new rates bills (Tomorrow, 1 April)
- An increase in the weekly SSP rate to £99.35 (Sunday, 3 April)
- A 1.25 percentage point increase in NICs rates for employers, employees and sole traders as well as dividend taxation (Wednesday, 6 April)
Historic Nottingham farm submits plans to open its doors as community hub
An historic farm in Nottingham is proposing to open its doors as a community hub which will help keep the area’s history alive.
Greasley Castle Farm has submitted plans to open a museum dedicated to the history of the site and local area, a tearoom, function room and a number of workshops for local businesses.
A planning application has been submitted to Broxtowe Borough Council by property consultancy Fisher German on behalf of the farm.
The site itself is steeped in history, comprising of a Grade II listed farmhouse, castle remains and font, all set within a Scheduled Ancient Monument.
The plans would see the ground floor of the farmhouse converted into an interactive tearoom which would not only serve local produce but invite young people to learn more about the ‘farm to fork’ concept and develop their skills in baking.
The existing barns would be converted into a museum which will display historic information and artefacts about the site and the local area, a function room and four workshops available to small businesses.
Visitors would also have access to the grounds of the arable farm which includes almost 1,000 acres of land including fields, woods, and lakes.
The plans are the vision of farm owner Malcolm Hodgkinson who has lived in the area for all of his life but did not learn about its history until he was in his 40s.
He said: “When I was a boy, me and my sister didn’t know that Greasley Castle even existed and there are young people growing up today in this very same position.
“There is a lot of forgotten history in the area and I want to help revive this and keep it alive for generations to come.
“If plans are approved, people will be able to find out about how the site originally housed a medieval manor house before the castle was built in the 1340s.
“Visitors will be able to learn about significant inhabitants of the site and take a look at some of the incredible local artefacts which have been recovered. These will be on display alongside some of the old equipment from the farm showing the agricultural importance of the site.
“The proposed plans also include a tearoom, but I wanted to create something interactive and different to give young people the chance to learn about the ingredients and take pride in making their own cakes and bread for their families.
“It will be fantastic to welcome small local businesses to the workshops which would be suitable for those making and selling things on site such as blacksmiths, jewellery makers, framers – anything that would thrive in a rural setting.
“The farm is already a big part of the local community and has been home to a local Scouts group for more than 30 years, Castle Greasley Archery Club and a local donkey and pony rescue organisation.
“These plans will make the farm into even more of a community hub which will help educate people about incredibly important topics and offer a completely new experience in the area.”
Scott O’Dell, of Fisher German, added: “Malcolm has a fantastic vision to create a valuable community asset which will benefit generations of local people.
“It is an important site historically, so we have worked hard to ensure the proposals involve minimal changes to the existing buildings to ensure they are preserved with little intervention. We are also keeping any new buildings to a minimum.
“It is a really positive application which has a strong focus on the area’s local heritage and agriculture.”
Experienced charity leader and FMCG specialist strengthens FRAME Board of Trustees
FRAME, the Nottingham-based medical research charity committed to reducing the number of animals used in scientific testing, has appointed former charity leader, fast-moving consumer goods (FMCG) specialist and veganism advocate George Gill to its Board of Trustees.
As founder of VeganFMCG, a company that supports FMCG SMEs in scaling up their business and brand, George also held an 11-year tenure at The Vegan Society, initially as head of business development and then as its CEO. Prior to this, George was CEO of Beyond Animal, a digital platform accelerating the growth of the vegan economy, and previously spent 20 years in sales and business development in FMCG, with a strong background in brand licensing and new product development.
At The Vegan Society, George was responsible for raising income revenue from £300k to £5m, leading the organisation’s promotion of the Vegan Trademark, and executing major campaigns such as the Grow Green Conference and Plate up for the Planet. He also played a key role in policy and advocacy initiatives such as the Ethical Vegan Protection (Equality Act) and the formation of the All-Party Parliamentary Group on Vegetarianism and Veganism.
FRAME is committed to replacing the use of animals in scientific experiments, and is dedicated to the development of new and scientifically valid methods that will replace the need for laboratory animals in medical and scientific research, education, and testing. The charity provides an annual donation to support the work of the FRAME Laboratory in Nottingham where scientists research and develop human-based alternatives to animal models.
FRAME’s Board of Trustees provides strategic direction and governance and works alongside the charity’s team that is led by CEO Celean Camp. George joins FRAME Trustees Sara Carbone, Dr Lesley Gilmour, Dr Anja Petrie, and Chair of Trustees, Dr Carol Treasure.
Of his appointment, George says: “In recent years, my career has focused on increasing animal-free ingredients and animal-free testing for products across alternative food protein, skincare, toiletries, detergents, fashion, and research medicine, with the goal of promoting veganism and plant-based living as a positive lifestyle choice rather than a fad. As a result, products have been developed from new synthetic ingredients, algae, and cell-cultured seafood by businesses across the world.
“There are many synergies with my work and FRAME’s vision and values, and I’m excited to use my experience to help influence crucial changes in policy, increase awareness of alternative, non-animal testing methods, generate funds for cutting-edge research, and support work on industry partnerships.”
FRAME CEO Celean Camp says: “George’s personal ethos, extensive experience in corporate outreach, and focus on promoting both animal welfare and ethical consumerism strongly align with FRAME’s vision of a world where non-animal research methods are accepted as scientific best practice.
“He brings in-depth charity leadership, governance knowledge and problem-solving skills to our Board of Trustees, which will be invaluable as we expand our education and outreach work and continue to grow and develop FRAME’s public and corporate support.”
New associate director for Mather Jamie
Specialist land development and property consultancy company Mather Jamie has appointed Karla Williams as a new associate director specialising in land acquisitions and disposals.
Having started her career in land buying during a sandwich placement, Karla has spent the last decade working for volume house builders including Countryside Properties and Avant Homes where she was responsible for acquiring sites of various sizes for a mixture of tenures.
Commenting on her appointment, Karla said: “Mather Jamie is a very reputable property consultancy and after many years working for volume housebuilders I thought the opportunity to work on the other side of land transactions would be an exciting challenge.”
Karla graduated with First Class Honours in Planning and Development from Nottingham Trent University in 2014 and enjoys returning as a guest lecturer to support the next generation of graduates. In her spare time Karla enjoys visiting new places and has previously explored Vietnam by motorbike. Originally from Nottingham, Karla now lives in Derby with her husband, two children and an affectionate rescue cat.
Introduction of new Community Foundation injects over £23,000 into local charities
Hinckley & Rugby Building Society has launched a new Community Foundation, giving local charities the opportunity to apply for grants of up to £5,000.
Working in partnership with the Leicestershire & Rutland Community Foundation, the Society’s new fund has been launched as a result of a successful financial year in 2021, presenting the Society with a greater opportunity than ever before to invest its profits back into the community.
Hinckley & Rugby Building Society’s Chief Executive, Colin Fyfe, said: “We’re very pleased to be introducing our Community Foundation because it enables us to provide an unprecedented level of support to charities in the local communities in which the business sits.
“As a mutual organisation, the Society feels very strongly about encouraging projects at grassroots level and we see the launch of the Foundation as a firm statement about our commitment to the community and look forward to getting to know the charities and being a supportive partner.”
The charities which have been successful in receiving funding this year are: Leicestershire-based Feed the Need Coalville, Helping Hands Community Trust and Hospice Hope, and Warwickshire-based charities Nuneaton Men and Women in Sheds, Volunteer Friends and Warwickshire Wildlife Trust. The total amount received by the charities is £23,450.
The charities chosen to receive funding through the Foundation this year were voted for by Society staff. From next year, Society members will be involved in this decision.
Charities which would like to be considered for a grant can do so by sending a short email to: grants@llrcommuntiyfoundation.org.uk.
Medieval street character to be restored as new homes approved in Newark
Multi-disciplinary design practice, rg+p has secured planning permission for new homes and co-working space on Stodman Street, Newark, reinstating the town centre’s medieval character.
rg+p’s design, for Newark & Sherwood District Council, will see the creation of 29 one- and two-bedroom apartments and 475m² of co-working space together with car parking, cycle storage, a communal roof terrace and new public realm. The scheme will regenerate the former Marks & Spencer department store, retaining its 1930’s art deco frontage while re-establishing the medieval St Marks Lane.
Ben Walton, rg+p’s design director, says: “Our brief for the redevelopment at Stodman Street was to preserve and enhance its historic character whilst providing modern homes and places of work.
“Through extensive analysis of the townscape, we identified an opportunity to improve the public realm by reinstating St Marks Lane, a medieval lane and natural wayfinding route that connects Stodman Street with Lombard Street.
“Our design introduces pedestrianised upper and lower walkways along here, together with new commercial units which will help reactivate the street frontage.
“By studying the neighbouring architectural context, we established a series of ‘push and pull’ frontages, with the commercial units creating activity along the street and the residential apartments recessed.
“The massing was devised in close consultation with the local authority conservation team to ensure an appropriate sense of scale while the material palette features rhomboid grey zinc shingles, beige stone to complement the retained art deco frontage, red brick with dark and light mortar variations, lime wash/white painted brick and metal balustrading.
“The approved scheme will restore Newark’s historic layout and we look forward to progressing the project.”
Each of the new homes has private amenity space and the majority are dual aspect to help with natural ventilation. Further sustainable design aspects include rooftop PV panels, electric vehicle charging points, and green roofing along the façade facing the newly restored St Marks Lane.
Councillor David Lloyd, leader of Newark and Sherwood District Council and co-chair of Newark Towns Fund Board, said: “These approved plans will provide an excellent opportunity to breathe life back into this vacant space with an interesting and imaginative design that is sympathetic to the surrounding heritage buildings in Newark town centre and materially enhance the quality of the public realm.
“In addition, by creating new high-quality homes, retail space and job opportunities, this redevelopment will benefit our town and its residents in the long term.”
The redevelopment at Stodman Street is one of nine priority projects outlined in Newark’s Town Investment Plan (TIP), developed by the Newark Towns Fund Board. The new homes are expected to be available for residents by 2024.
Global payment services provider reveals office refit as part of vision to create new jobs
Global payment services provider, Worldline has announced a complete transformation of its Beeston site as part of its strategic vision to continue attracting and retaining the best people. The new space will create at least 50 new jobs for Nottingham and an all East Midlands team of contractors has been appointed to carry out the refurbishments.
Globally, Worldline design and operate digital payment and transactional solutions across multiple sectors, primarily working across transport, retail & hospitality and financial services. The teams based at Beeston primarily support the UK rail network delivering rail operations and rail retail services.
Worldline have been based at Beeston since 2009, delivering the technology that is the backbone of the UK rail system. The company currently has over 5,000 vacancies globally and will shortly bring in a new cohort of 50 apprentices who will be inducted through the Beeston site.
Worldline has been working with Leicester-based workplace consultants and commercial fit-out specialists Blueprint Interiors, and Derby-based workplace tech and audio-visual solutions provider TecInteractive.
The project will involve the transformation of 14,000 sq ft of office space that was previously configured as rows and rows of desks into a space which places the needs of the people using the space at the forefront of design. At the heart of the transformation is a learning and invention suite, where Worldline will host industry colleagues and customers in a state-of-the-art immersive experience.
Commenting on the investment, James Bain, CEO of Worldline UK&I, said: “Our people are the most important part of our business, it is fundamental for us that we provide our people with the best possible environment to work in.
“Our approach embodies the future culture of our business supporting our Dynamic Working principles in a post-COVID environment.
“The investment we are making in our Beeston office is not a refurbishment but a complete transformation that we hope will inspire and motivate our people, enabling them to collaborate, invent and work to the best of their abilities.”
Lee Jones, project manager from Worldline, added: “We have worked closely with Blueprint Interiors and TecInteractive who have been brilliant and their advice has been inspirational. They have helped us to truly get under the skin of what our people need from their workplace. We are really excited to commence works and look forward to welcoming our people to use the refurbished spaces when the project is completed in June.”
Chloe Sproston, creative & commercial director from Blueprint Interiors, added: “The new office will provide range of flexible hybrid working solutions that can be adapted according to the needs of its people. Whether this involves collaborative sessions, focused work, or social interactions – the new space, the furniture and the workplace collaborative tech chosen can be easily reconfigured to suit all future needs. On top of this, Worldline are totally committed to ensuring their people feel safe returning to work.”
Tom Bamford from TecInteractive added: “The new office will provide the latest in presentation and collaborative tech across all meeting spaces. As so many meetings are now video calls, we have designed the spaces to be a great experience for all participants, whether they are in a meeting room or connecting in from home.
“This helps everyone feel part of the discussion and get the most from every collaborative session. The learning and invention suite along with the immersive room will provide a space focused on telling the Worldline story to customers as well as being a high-end space for training and presenting products in a futuristic and impactful way.”
As the first industry player to contribute to the carbon neutrality of its activities in the payment industry, sustainability is central to Worldline’s business model. To meet this commitment Worldline has donated all old furniture to CollectEco who will repurpose or recycle it to charities, schools, community groups, NHS trusts and other not for profit good causes.
Children First Derby Charity Spring Ball raises over £8,000
Local charity Children First Derby celebrated the successful return of its annual Charity Spring Ball, held on 26th March 2022 at Morley Hayes Derby, which raised over £8,000 to help support local vulnerable children, young people, and families.
The sold-out Charity Spring Ball 2022, sponsored by East Midlands law firm, Smith Partnership, was well attended by prominent local business leaders – many of whom donated generous prizes for the live and silent fundraising auctions which were held during the event.
“We’re delighted to see the return of our popular Charity Spring Ball and to have received such fantastic support from the local business community,” said Children First Derby CEO, Irshad Baqui.
“It gives me great pleasure to announce that this year’s ball has raised an incredible £8,000 and we would like to extend a heartfelt thank you to everyone here for your support this evening, and to all those who have generously donated auction prizes to help support this event.
“Your efforts are greatly appreciated, enabling us to provide continued support to local vulnerable children, young people and families.”
The event saw guest speaker, Joshua Ryan, chair of Children First Derby Youth Forum, deliver an inspirational speech about his previous struggles with mental health, and the challenges he continues to face.
In the heartfelt speech, Joshua detailed how the charity’s ongoing support had proved instrumental in helping him move forward positively with his life and how valuable the support continues to be.
As part of the event, guests enjoyed a three-course evening meal, served in Morley Haye’s Pavilion Suite, and were treated to entertainment from award winning magicians Ian Barradell, and Bernie Pedley.
Long-standing supporter of Children First Derby, and director of Merchant’s Jewellers, Karim Merchant, proved to be an excellent auctioneer for the charity’s live auction. Supported by fellow director, Tanita, the dynamic duo enthused guests, helping to drive auction prizes up and increasing the total amount of funds raised.
In addition to the live and silent auction prizes available on the evening, the charity had previously secured some signed Derby County Football items as auction prizes, including a pair of custom-made signed football boots from England and Manchester United record goal scorer, and current manager of Derby County Football Club, Wayne Rooney.
Some of these coveted, signed Derby County items were auctioned via the charity’s eBay account in the lead up to the Spring Ball – with Rooney’s boots fetching a winning bid of £620. And the total amount raised by the DCFC items amassed £2,000 towards the overall fundraising initiative.
The event concluded with live music performed by 5-piece Band, The Soul Council.
IoD appoints Craig Bentley as Leicestershire vice-chair
The Institute of Directors (IoD) has appointed Craig Bentley as vice-chair for Leicestershire and South East Midlands.
Craig is director of specialist management consulting firm Bentley Management and Consulting. He is also co-founder of Swotly, an ed-tech business which uses voice technology to improve parental engagement with children’s learning.
Prior to setting up his consulting business Craig led commercial and operations teams for global companies in manufacturing, logistics and supply chain management.
He succeeds Dr Shamir Ghumra as vice-chair and will remain as the branch ambassador for policy and governance.
As vice-chair, Craig will work closely alongside branch chair Sarah Canning and a team of specialist ambassadors to provide connections, professional development opportunities and an influential lobbying voice for all directors.
Craig said: “I am delighted to take on this role. We want to support local directors to deal with the challenges facing their organisations but also to provide them with the tools they need to prosper. I will be using my experience in helping clients to manage change and think through better ways of working.”
Sarah Canning, chair of IoD Leicester and South East Midlands, added: “I’d like to thank Shamir for his excellent work as vice-chair and welcome Craig as our new vice-chair. As someone with a passion for helping SMEs to achieve their full potential, I am delighted that Craig has agreed to take on this additional role. We are a community of individual members made stronger through the strength of our network – helping each other grow and succeed.”
