< Previous20 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk INSURANCE foresight can prove costly, particularly when claims settlements are far higher than anticipated. One of the most critical types of insurance for any business is employer’s liability insurance. This cover is legally required for businesses that employ one or more staff members in the UK. It protects businesses from the financial burden of employee injuries or illnesses that occur while on the job. This is particularly important in sectors like manufacturing or construction, where accidents are more likely to happen. Given the prevalence of these industries, ensuring that your business complies with this legal requirement is not just important, it’s mandatory. Failure to comply can result in significant fines and penalties. Equally important is public liability insurance. This policy protects businesses from claims arising due to injury or damage caused to third parties. If a customer slips and falls while visiting your premises, for example, public liability insurance would cover the medical costs and legal fees associated with such an incident. This type of insurance is invaluable for businesses that regularly interact with the public, such as retail stores, hospitality venues, or service providers. For businesses offering professional services or advice, professional indemnity insurance is another essential form of cover. This type of insurance protects your business if a client suffers financial loss as a result of your advice, services, or negligence. Sectors like law, finance, consulting, and engineering, are vulnerable to these kinds of risks. A mistake made in the course of offering professional advice can result in significant financial claims. Therefore, www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 21 INSURANCE professional indemnity insurance offers peace of mind to those in industries where providing expert advice is the core of the business. Property insurance is also vital for businesses that rely on physical premises or assets. This type of policy protects against risks like fire, flood, theft, or vandalism. The East Midlands, like much of the UK, is prone to unpredictable weather patterns, including storms and flooding, which can cause serious damage to property. For manufacturing and retail businesses, in particular, property insurance can safeguard not just the physical premises but also the machinery and equipment necessary for operations. Some businesses might also consider machinery breakdown insurance, which covers the costs of repairing or replacing equipment that is crucial to business functions, ensuring minimal downtime. Another growing concern for businesses is the rising threat of cyberattacks. The recent cyberattacks on Marks & Spencer (M&S) and Harrods highlight the critical need for businesses to bolster their cybersecurity. M&S experienced severe disruptions, including paused online orders, in-store service interruptions, and product shortages, with an estimated £700 million lost in market value. The attack, linked to the Scattered Spider hacking group, used ransomware to lock M&S’s systems, holding vital data hostage. This breach highlights how vulnerable even major businesses can be to cybercrime, with hackers exploiting weaknesses through methods like phishing. Harrods, while confirming an attack, has not revealed the full extent of the damage. The financial costs of a cyberattack can be crippling, as seen in M&S’s case, where online sales, accounting for a significant portion of its revenue, were halted. With the growing threat of cybercrime, businesses must invest in robust security measures and ensure they have the right insurance to mitigate potential losses. Business interruption insurance is a critical form of cover that provides financial support if your business is temporarily forced to stop operating due to an unforeseen event, such as a fire, flood, or even a pandemic. This insurance covers the loss of income during such downtime, which can be a lifeline for businesses that rely on a continuous cash flow to operate. The Covid-19 pandemic underscored the importance of business interruption insurance, as many businesses found themselves unable to operate due to lockdowns and restrictions. For businesses in the East Midlands, which depend on consistent operations to survive, this type of cover is an essential safety net. When selecting the right insurance for your business, it’s essential to consider your specific needs and risks. Each business is unique, and the type of insurance required will depend on factors such as the size of the business, the industry you operate in, and the potential risks your company faces. Businesses in high-risk sectors, such as construction or manufacturing, may need more extensive property and employer’s liability coverage compared to smaller tech start-ups or service- based businesses.22 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk AGRI-BUSINESS SPOTLIGHT T he fertile plains and rolling hills of the East Midlands have long echoed with the rhythms of rural life. From the rich loam of Lincolnshire to the dairy pastures of Derbyshire and the arable heartlands of Leicestershire, agriculture has been the very lifeblood of the region. While the global landscape has shifted dramatically in recent years, presenting unprecedented challenges, this enduring heritage is proving to be the region’s quiet strength, a foundation upon which a resilient and innovative agri-business sector is now flourishing. The escalating threat of climate change, the spectre of food shortages, and the disruptive supply chain pressures laid bare by the coronavirus pandemic have cast a stark light on the fragility of our global food systems. Yet, within this precarious environment lies a significant opportunity for the agricultural sector. For years, the region’s farmers have weathered their fair share of storms. Torrential rains and devastating floods have tested their resolve, while outbreaks of crop-based diseases have threatened livelihoods. But from these New seeds of growth Global challenges are creating fertile ground for innovation and growth within the East Midlands’ established agricultural sector, from smart farming to advanced processing. New seeds of growth www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 23 AGRI-BUSINESS SPOTLIGHT trials has emerged a steely resilience, a deep understanding of the land, and a willingness to embrace innovation. This starts at the crucial roles played by suppliers of fertilisers and the manufacturers of agricultural machinery. These businesses are at the forefront of technological advancements, developing precision farming techniques and sustainable solutions that empower producers to optimise yields while minimising their environmental impact. From GPS-guided tractors that reduce input waste to the development of bio- based fertilisers that nourish the soil naturally, innovation in this segment is driving efficiency and sustainability across the entire chain. With an average farm size of 103 hectares, significantly larger than the English average, the region’s agricultural output is substantial. In 2023, the East Midlands saw a significant contribution to the UK’s agricultural output, with key crops including wheat (313 thousand hectares) and barley (130 thousand hectares). The livestock sector is equally robust, with notable numbers of cattle (424 thousand), pigs (328 thousand), and poultry (21,981 thousand). From large- scale arable farms producing staple crops like wheat and barley to the thriving livestock sector, including the region’s renowned pork and dairy industries, the breadth of agricultural output is impressive. Farmers are adopting cutting-edge techniques, from controlled environment agriculture in vertical farms to the strategic use of data analytics to inform planting, harvesting, and animal husbandry decisions. The emphasis is increasingly on smart 24 Á24 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk AGRI-BUSINESS SPOTLIGHT farming, leveraging technology to enhance productivity, improve resource management, and build resilience against unpredictable weather patterns. Reflecting this growing trend, Nottingham Trent University, based in the East Midlands, is launching a new masters degree in “smart agriculture” this September. The course will equip graduates with expertise in areas such as artificial intelligence (AI), vertical farming, automation, and precision agriculture. The critical processing sector also plays a vital role. From state-of-the- art food processing facilities that add value to raw agricultural products to the intricate logistics networks that ensure timely delivery to market. Businesses are investing in automation and efficiency to meet growing demand while adhering to stringent quality standards and evolving consumer preferences. The focus on local sourcing and shorter supply chains, amplified by recent global events, is creating new opportunities for regional processors to forge stronger relationships with local producers. The research being undertaken at Nottingham Trent University, including the development of AI-driven nutrient and lighting recipes for hydroponically grown crops in vertical farms, highlights the potential for the region to become a hub for these innovative food production methods. The evolving support network for the sector is evidenced by recent activity such as the acquisition of an agricultural consultancy firm by Duncan & Toplis, a 280-strong accountancy and business advisory group. This move signals the increasing integration of specialist advice and financial expertise within the agri-business sector, empowering farmers and related businesses with the strategic guidance needed to navigate the current economic climate and plan for future sustainability. Policy changes, funding opportunities, and collaborative initiatives are driving growth and innovation. The burgeoning agritech sector, where startups and established businesses are developing groundbreaking solutions to address the challenges facing the industry, is also significant. From drone-based crop monitoring to AI-powered disease detection, the integration of technology is rapidly transforming agricultural practices. The establishment of the “smart agriculture” masters degree signifies the growing recognition of this technological shift and the need for skilled professionals to drive it forward within the region. The challenges remain significant. The ongoing impact of climate change necessitates continuous adaptation, and the need to balance productivity with environmental sustainability is paramount. Labour shortages and volatile market prices also present ongoing hurdles. Despite a recent decrease in income from farming, the region’s agricultural output remains substantial, with plants and flowers, poultry, and wheat being the largest contributors, accounting for 43% of the total output value of £3.9 billion in 2023.www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 25 AGRI-BUSINESS SPOTLIGHT26 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk CONSTRUCTION MACHINERY AND EQUIPMENT How modern machinery is powering the construction boom www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 27 CONSTRUCTION MACHINERY AND EQUIPMENT The East Midlands construction industry is experiencing a resurgence driven by new investments and infrastructure projects. Success now hinges on firms embracing cutting- edge machinery and digital technology to boost efficiency, safety, and competitiveness in a rapidly evolving market. T he East Midlands is witnessing a fresh wave of activity across its construction sector, as new investments spur demand for a wide range of building projects. From expansive warehouses and modern office blocks to much-needed homes for sale, this revival marks a welcome turnaround for an industry that faced a challenging decade. However, success will largely depend on the ability of firms to adapt, investing in the latest machinery and embracing digital innovation to boost efficiency and maintain a competitive edge. After years of subdued growth, the East Midlands now finds itself at the crossroads of opportunity. Major infrastructure improvements and commercial developments are underpinning a steady pipeline of construction work, particularly in logistics and manufacturing hubs that cater to the region’s thriving economy. The availability of new projects, however, comes with increasing expectations around productivity, safety, and environmental impact. Those companies that rely on outdated equipment or manual processes risk falling behind in a market where speed and precision are critical. Modern machinery has become a key differentiator. The integration of GPS- guided excavators, compactors, and site dumpers equipped with advanced control systems is transforming how contractors operate on site. Not only do these technologies increase accuracy, but they also enhance safety by reducing the need for ground staff to undertake risky tasks, such as manually checking steep embankments. Furthermore, digital control systems enable operators to complete work 28 Á28 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk CONSTRUCTION MACHINERY AND EQUIPMENT faster and with fewer repositioning delays, improving overall site productivity. This shift towards smarter, more connected equipment is exemplified in projects across the region. In 2017, Derbyshire-based earthmoving specialist JC Balls & Sons delivered significant efficiency gains on the A50 Growth Corridor scheme near Uttoxeter. The company deployed a modern fleet of JCB machinery fitted with GPS machine control and tilt rotator technology, cutting on-site times by almost half. These advancements have also allowed JC Balls & Sons to revise work plans mid-project, thanks to the increased productivity of their machines. The East Midlands’ construction revival also reflects broader industrial trends towards digitalisation and virtual planning. A notable example is BMW with its Hams Hall plant, which plays a vital role in the Midlands’ advanced manufacturing landscape. As part of BMW’s global digital twin initiative, the plant has been digitally scanned using mobile 3D laser technology to create highly detailed virtual models of its facilities. This technology enables precise virtual inspections, production planning, and collaboration with external suppliers, significantly reducing the risk of errors and costly delays. BMW’s experience highlights a key lesson for the construction sector: future-proofing means combining traditional expertise with cutting-edge technology. Virtual factory models allow for early detection of design clashes and enable real-time adjustments to plans, improving flexibility and cost efficiency. This reduces waste and supports sustainable building practices, aligning with growing regulatory and environmental demands. For construction companies, adopting digital tools alongside modern machinery will be essential to remain competitive and www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 29 CONSTRUCTION MACHINERY AND EQUIPMENT responsive to client needs. The region’s growing infrastructure and industrial base require a workforce that is skilled and technologically proficient. As equipment becomes more sophisticated, operators must be trained to leverage advanced features such as GPS integration, tilt rotators, and digital machine controls. Similarly, site managers need to understand how to incorporate data from these machines into broader project planning and reporting frameworks. Firms that invest in upskilling their teams alongside new equipment stand to benefit from higher efficiency and safer, more predictable project delivery. The construction market is poised for sustained growth, but only for those agile enough to seize new opportunities. Investment in modern machinery and digital workflows is no longer a luxury but a necessity. Whether working on large infrastructure projects, commercial developments, or housing, construction firms that embrace innovation can deliver higher quality outcomes faster and more cost-effectively. As investment in the region’s built environment continues to grow, so too will the need for forward-thinking firms ready to harness the power of modern machinery and digital innovation.Next >