< Previous10 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk FINANCE NEWS Nottingham smart textiles firm weaves in additional investment Foresight Group LLP has announced a further £749k equity investment into Footfalls and Heartbeats Limited through the Midlands Engine Investment Fund (MEIF), leading a £1.5m round with additional backing from the University of Nottingham and several new and existing High Net Worth Investors. Footfalls develops and manufactures patented smart sensor fabrics that can measure various data points including relative pressure, in addition to absolute pressure through its fibre optic technology which have applications in a range of fields from compression bandages in the medical sector to sports apparel used by athletes. The new investment is to be used by the Company to continue staff expansion as well as the continued development of advanced technology to develop new and exciting products. In October 2018, Foresight made MEIF’s original investment of £249k into the Company as part of an initial £800k round having been impressed by the opportunity and the strong management team. Since then the Company has continued to grow its customer base and develop new innovative products for a global market that is increasingly demanding intelligent fabrics. East Midlands R&D tax credit claims rise by almost 30% New statistics The latest data shows that East Midlands companies submitted 3,120 claims for research and development tax credits in 2017-18, up from 2,430 in 2016-17 reported in September last year. UK-wide, the total amount of R&D support claimed rose to £4.3bn, an increase of £1bn from the previous year. First introduced in 2000, R&D tax credits are designed as a tax relief to encourage greater R&D spending and innovation. They work by reducing a company’s tax bill by an additional amount depending on the company’s allowable R&D expenditure. Since launch, over 300,000 claims have been made, with £26.9bn claimed in tax relief. Over time, the rate of relief has become more generous and is now worth up to 230 per cent for SMEs. This means that for each £100 of qualifying costs, the corporation tax paid by SMEs on income could be reduced by up to an additional £24.70 (applying 19 per cent UK corporation tax rate for FY18). For large companies, where the R&D Expenditure Credit (RDEC) regime applies, the relief is now worth 12 per cent pre-tax (or 9.72 per cent post-tax). The statistics show an interesting trend relating to age of claimant companies. Just over 40 per cent of claims are made by companies less than 10 years old. This suggests that despite continued efforts by both HMRC and the adviser community, businesses still perceive R&D tax credits to be predominantly for young companies. However, more established companies continue to innovate year on year to remain globally competitive, and may be failing to recognise their entitlement to claim. Sheetal Sanghvi, RSM’s regional head of R&D tax said: “It’s very encouraging to see that East Midlands companies saw the highest rise in R&D claims across all UK regions.” Telephone 0800 009 6066 Email info@nnbcfinancial.co.uk Asset Finance, Leasing, Contract Hire, Sale & Leaseback • Property Development Finance • Commercial Property and Business Mortgages • Factoring and Invoice Finance University secures £450k to support employability initiatives Santander has signed a new agreement with Loughborough University which has secured funding for a further three years in entrepreneurial, educational and employer initiatives for staff and students. The official signing involved the Vice Chancellor Professor Robert Allison and Santander Universities UK Director Matt Hutnell. The agreement – which is worth £450,000 – was celebrated with a morning of events attended by staff, students and alumni of the University. As part of the event, a panel discussion exploring the theme of ‘Being your best self’ was held and chaired by Matt Hutnell, with successful Loughborough alumni and previous beneficiary panellists from the likes of Aston Villa Women and British Triathlon. The additional funding will specifically support postgraduate scholarships, sports scholarships, entrepreneurship, employability for widening participant students, mobility awards, the University’s Coach and Volunteering academy, as well as the Student Unions’ Leadership Development Programme. Speaking on behalf of the University, Professor Allison said: “Loughborough University is immensely proud of its relationship with Santander Universities and their generous support over a long period of time.” Sheetal Sanghvi 08-10.qxp_Layout 1 29/10/2019 09:30 Page 3Partner promotion at Leicester law firm Leicester niche commercial law firm Southall Hathaway & Co has promoted Jatinder Kandola to Partner. Jatinder from Mountsorrel joined the firm less than a year ago as Principal Associate and Head of Commercial Property, but has quickly developed the team as a real specialist and go-to leader in this diverse and evolving field. Managing partner Stuart Southall explains: “Jatinder has been an absolutely integral part of the development of this practice recently and her promotion is very much earned. She has implemented a great system and attracted high calibre clients, so this – added to Jatinder’s reputation and skill set – has seen our property work and client base change much for the better. “That kudos and increase in standing has solely been as a result of Jatinder’s hard work and dedication and I wanted to recognise her contribution. She is an extremely valued and well respected member of the Southall Hathaway & Co senior team.” Partner promotion for Spalding commercial property solicitor A commercial property Solicitor at a Lincolnshire firm has been promoted to Partner in Charge. Rebecca Inglis heads up a team of 16 at Chattertons Solicitors & Wealth Management’s office in Spalding, the town where she grew-up and attended school. She is responsible for staff welfare as well as advising on problem files and is the link between the board of directors and staff in the office in Broad Street. Rebecca deals with all types of Commercial Property matters, including the sale and purchase of Freehold property, new leases and the assignment of leases, acting for management companies and dealing with secured finance. She is also Deputy Clerk of the Spalding Town Husbands Charity and the Spalding Relief in Need Charity which own and manage 71 Almshouses in the local area and make grants to individuals upon application via the CAB. The former Spalding High School pupil said: “I grew up here and attended the local High School before studying law at Nottingham Trent University.” New senior partner for KPMG’s East Midlands practice Professional services firm KPMG has appointed Marc Abrams to run its East Midlands practice as Senior Partner of its Leicester and Nottingham offices. Marc succeeds Ian Borley, who is stepping down from the role ahead of retirement in April after nearly 35 years with the firm. Marc has been with KPMG for 11 years and is responsible for the leading the firm’s Tax practice in the East Midlands. He has advised on some of the region’s highest profile transactions in recent years and worked with a range of businesses from privately owned to listed, his advice covering both company and shareholders’ taxes. Marc said: “I’m thrilled to have been appointed to lead KPMG’s East Midlands practice. Over the last 11 years, I have seen first-hand the tremendous ability that exists across the 200+ talented individuals that make up our vibrant local practice and the fabulous range of ambitious businesses within the East Midlands. Being an active and visible member of the local business community continues to be a key part of KPMG’s regional strategy in the East Midlands. I’ve got big shoes to fill, but I’ll be working closely with Ian until he retires in April.” Housebuilder looks to the future with new Construction Director Derbyshire based luxury housebuilder Woodall Homes is expanding its senior leadership team for the second time in the space of three months with the appointment of Wayne Wombwell as Construction Director. Wayne joins the business with more than 25 years’ experience in the construction industry in both the housing and retail sectors. Bringing a wealth of knowledge to the role with a previous client portfolio of household brands such as; B&Q, Wickes and Focus, Wayne will take responsibility for all existing and developing sites. Dave Wood, Managing Director of Woodall Homes, said: “Woodall Homes is continuing to grow and develop, which in turn means strengthening the team with the best possible talent who share our vision. We are thrilled to be welcoming Wayne to the team as his experience, knowledge and expertise will be instrumental in driving Woodall Homes forward.” Wayne Wombwell, Construction Director of Woodall Homes, said: “Woodall Homes provides high-quality homes with exceptional workmanship and I was keen to join a team which continuously exceeds its customers’ expectations. “This role will allow me to deliver great results for Woodall Homes and highlight the brilliance of the homes whilst upholding the core values of The Chartered Institute of Building.” www.eastmidlandsbusinesslink.co.ukEast Midlands Business Link 11 APPOINTMENTS 11.qxp_Layout 1 29/10/2019 14:13 Page 112 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk PROPERTY NEWS New £22m leisure facility given green light A new, state of the art leisure centre in Coalville has been given the green light. North West Leicestershire District Council’s (NWLDC) Planning Committee approved the application to build the £22 million facility on land off Stephenson Way. In a partnership between NWLDC and Everyone Active, the leisure operator will build and operate the new leisure centre, whilst the council will own the building. The new facility will replace Hermitage Leisure Centre, which will stay open until the new one is ready. Work will start on the new leisure centre in January 2020, with the build taking around 18 months. Described as a ‘parkland destination centre’, the new Coalville Leisure Centre will reflect its woodland setting in the National Forest, with wooden beams swooping down over the pool area and a large glass front playing host to the reception area and café. A trim trail, natural play spaces and a cycle track will be featured in the grounds around the centre. The plans show how the building will achieve the environmental accreditation BREEAM status, with LED lighting throughout, air source heat pumps, electric car charging points and photovoltaic panels on the roof that will harvest energy from daylight, helping to reduce the carbon footprint of the building. Inside the building, the gym will have views across the parkland surrounding the centre, with the range of other facilities including three squash courts, clip and climb, spin studio, an eight court sports hall, an eight lane swimming pool and a learner pool. No objections were raised by statutory consultees, although a number of objections were received in respect of the principle of development on an Area of Separation. Speaking about the decision, Chairman of Planning Committee, Councillor Nigel Smith said: “This was a highly anticipated and complex application which the committee very carefully considered before coming to the decision to approve. Leicester office building sold to student accommodation provider A prominent office building in Leicester city centre has been sold to student accommodation developer and operator, Study Inn Group. Study Inn has purchased Reynard House for an undisclosed amount. Cushman & Wakefield advised the vendor on the sale. Reynard House comprises vacant former office space and is located to the south of Leicester city centre on the corner of Welford Road and Norton Street. The site is within walking distance of the railway station and both the University of Leicester and DeMontfort University. The building has full planning permission for conversion to residential use and an extension of the existing building to provide 79 apartments. Study Inn Group manages 2,000 high quality serviced rooms in Coventry, Nottingham, Sheffield, Cambridge, Bristol and Loughborough. Study Inn’s Acquisition Manager, Jack Jefferson, said: “This this is another well located building in a good university city and we are very pleased to be adding it to our portfolio.” Second occupier snaps up 27 acres at Leicestershire employment park IM Properties has confirmed that a group of DSV companies have exchanged contracts to acquire 27 acres, to officially become the second occupier on its new employment park adjacent to Junction 11, M42. DSV was put forward as a potential high-profile occupier alongside Jaguar Land Rover in the original report to the planning committee in August of this year, when the green light was given for the 238-acre employment park in north west Leicestershire. Headquartered in Denmark, DSV is the fourth largest Freight Forwarder in the world, following its acquisition of Panalpina. It operates in more than 90 countries, employing over 60,000 people internationally. Kevin Ashfiel, Development Director at IM Properties, said he was delighted to have now exchanged contracts with DSV so they could begin to deliver a new 450,000 sq ft, sustainable, flagship campus for the organisation to relocate to and consolidate its operations in the Midlands. “DSV is another major international occupier for the employment park and north west Leicestershire. Their interest in the site came after a lengthy search process and will enable them to grow their business in the region and become a significant site within its global network. 12-13.qxp_Layout 1 29/10/2019 14:15 Page 1www.eastmidlandsbusinesslink.co.uk PROPERTY NEWS Derby office building acquired in £1.4m deal Investment specialists at Harris Lamb have acquired a Derby office building on behalf of a private client for more than £1.4million. The team was tasked with identifying a suitable office investment to complement an existing portfolio of Midlands properties, and further to a competitive bidding process, acquired 5 Mallard Way, in Pride Park, for above the guide price at an investment yield of circa seven per cent. The two-storey office is currently let to cyber-security firm Webroot, and produces a six-figure annual revenue, with a further five years remaining on the lease. Neil Harris, Director of Harris Lamb, said: “Derby has a strong and growing tradition in being home to a high number of technology companies and with this particular property currently being occupied by dynamic software business Webroot, it was an exciting sector of the market for our client to invest in. “Webroot is a well-established, secure and growing occupier, having doubled its floorplate within Pride Park over the last six years. “At 6,725 sq ft, this is a modern office building is let on a Full Repairing and Insuring Lease expiring in 2024, generating in the region of £104,000 per annum. A large site, it has the potential for further expansion by way of planning consent for an extension of up to 4,469 over two floors, meaning that our client has plenty of scope for growing its acquisition.” Webroot, which provides network security solutions and corporate network protection, is part of a global software provider which was acquired by Carbonite for $618.5 million earlier this year. Major development of new warehouses near Markham Vale revealed Detailed planning consent has been granted for 824,000 sq ft of industrial warehouse space on land next to Markham Vale off junction 29A of the M1. St Francis Group, the property development and investment group and an expert in brownfield development and regeneration, together with its Joint venture partners iSec have revealed details of a major new development on land next to Markham Vale off junction 29A of the M1 upon which it intends to develop five new warehouse The brownfield site has been unused since the Coalite works closed over a decade ago but now joint venture partners iSec and brownfield regeneration specialist St Francis Group will start ground works immediately to make plots ready for development. Occupiers could move into high quality industrial warehouse and manufacturing space from Q2 2021. A second application seeking outline consent for an additional 500,000 sq ft in two units on adjoining land has also been submitted by the developers to North East Derbyshire District Council. At 1.32 million sq ft the scheme is to play a national role in the ever-expanding logistics market based on increasing demand from e-commerce The developers together with community leaders also want to make sure the business park provides a broad range of jobs across the manufacturing and technology sectors. As well as stimulating significant local job opportunities, the developers expect the scheme to stimulate fresh inward investment in the area boosting the local economy. Major office complex sold in £7m deal A major office complex in Nottingham city centre has been sold in a £7m deal. BizSpace, the flexible workspace provider, has bought 31-35 Park Row, which includes three buildings totalling 52,600 sq ft. BizSpace says it has bought the three buildings with a view to an immediate £1.8m refurbishment of 35 Park Row, which is currently vacant, into a business centre space. The remaining two buildings are currently occupied by Lloyds Bank and KPMG. Emma Long, commercial director at BizSpace said: “Our acquisition of Nottingham Park Row reflects our expanding business and the increasing demand we’re seeing for high-quality, flexible office space in the regions. “With more people going freelance or setting up their own businesses, Nottingham is becoming an increasingly attractive hub for start-ups and, with around 3 million people living within an hour’s drive and our two other centres here already full, we anticipate strong take-up when we open early next year.” East Midlands Business Link 13 12-13.qxp_Layout 1 29/10/2019 14:15 Page 2East Midlands Business Link's Directors Lunch 14 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk BUSINESS SCENE East Midlands Business Link’s Directors Lunch, held at the exclusive Restaurant Six in Nottingham, proved a huge success once again with business decision makers travelling far and wide to attend. The luncheon offers a forum at which business leaders can meet up and discuss ideas openly with one another in convivial surroundings over a sumptuous dinner. It offers guests an unrivalled opportunity to meet with likeminded individuals. Co-hosted by Catena, the event is now a regular in the business calendar and saw tickets completely sell out in a matter of weeks. The next event will return to Restaurant Six on 22 January 2020. Make sure to book early to avoid disappointment. PHOTOS: STEVE EDWARDS OF AUTOHOLIC PHOTOGRAPHY Darren Bicknell, Mark Wildsmith and Steve Fisher L-R: Chris Bodger Peter French, Susan Cain, Deviesh Raikundalia, Amanda Daley & Angie Cooper (back facing) L-R: Rebecca Ennis, Julie Chapman, John Harlow, Stuart Pigrim, Steve Fisher & Neil Buckley Jodie Swift, John Harlow, & Tim Glynn Angie Cooper, Mark Brayshaw & Steve Fisher 14-15.qxp_Layout 1 29/10/2019 09:46 Page 1www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 15 BUSINESS SCENE DINE AT SIX ELEVATED DINING AT TRENT BRIDGE To make a booking call 0115 6717 666 or visit restaurantsix.co.uk Mark Wildsmith & Darren BicknellNicola Anderson & Steve Bateey Michael Temple & Ian Kirkby L-R: Roscoe Fernandes, Sharn Atherton (obscured), Neil Harrison, Claire Bicknell, Nicola Anderson, Tim Glynn & David Ryley (back facing) 14-15.qxp_Layout 1 29/10/2019 09:46 Page 216 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk MANUFACTURING SPOTLIGHT Productive working working With Brexit on the horizon and the economy becoming more competitive than ever, it’s important for manufacturers to be as productive as possible. 16-19.qxp_Layout 1 29/10/2019 09:50 Page 1www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 17 MANUFACTURING SPOTLIGHT © SHUTTERSTOCK.COM / POPTIKA When it comes to improving productivity within the manufacturing industry, there are a number of different aspects that might be considered. Many of these have been around for some time, and some are considered obvious – so the focus for manufacturers who have been proactive in the past is to focus on new technology and how that can enable greater gains. Not only can improved efficiency help the bottom line in terms of revenue, it can also help to reduce expenditure on energy – and create less carbon emissions. Automation is one of the best ways to make savings in a manufacturing environment. Repetitive, time- consuming tasks that were traditionally carried out by factory operatives can now be completed quickly and efficiently by machines. As such, factory automation makes it much easier to meet large supply demands. It makes sound business sense to invest in the latest automated solutions, especially for businesses operating on a mass scale. The reasons why might sometimes be just as important as the how, and in this case specialists in the automation industry believe it is a lack of understanding which holds manufacturers back. As one supplier states, “As there are still many countries, even within the European Union, who have much lower labour rates than the UK, the only option for UK manufacturers, therefore, is to continue maintaining their high quality standards, whilst improving efficiency. This can only be effectively done with a vision of the end result required and a commitment to automation and performance improvement.” Whether using automation for engineering, food and drink or consumer products, the safety and reliability of the latest technology means that companies can make significant changes to the way their production line flows. Automation allows operatives to utilise a greater range of skills on the factory floor, and the additional capital generated by switching to an automated system can be re-invested in other cost and time- saving technologies, and even in new product lines. The good news for companies is that automated solutions are becoming cheaper and more flexible by the day. From basic assembly machines to leak- test fixtures and laser profiling devices, the latest innovations in automated technology are helping businesses to reduce the impact they have on the environment. In the past, no matter how skilled the operative, there was always potential for error on the production line. Today, 18 Á Á 16-19.qxp_Layout 1 29/10/2019 09:50 Page 2© SHUTTERSTOCK.COM / ZAPP2PHOTO we are looking at the possibility of 100% error and waste-free production, all thanks to factory automation. Quite simply, automated solutions help to speed up production. Product uniformity is imperative for most companies, yet it is difficult to achieve on a fast-moving production line. Automated laser profiling devices provide a handy solution, with laser triangulation ensuring that every surface of a product is inspected. The product’s overall mass can therefore be determined quickly and easily, and, moreover, there are intelligent conveyer solutions on the market that can hasten the inspection process even further without compromising on quality. There are those who argue that factory automation will bring about job losses. Quite the opposite is true. Investing in the latest machinery will encourage productivity and growth in the area, which in turn will lead to the creation of more jobs. But automation is not the only way in which to improve efficiency and productivity, in fact it may be that the current workforce is not running optimally because they are not being managed correctly. This is a matter of facilities management. For many, facilities management might mean nothing more than calling in the cleaners and ensuring that the premises runs on a day by day basis, and while this is important – it is only half the battle. Effective facility MANUFACTURING SPOTLIGHT 18 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk 16-19.qxp_Layout 1 29/10/2019 09:50 Page 3www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 19 MANUFACTURING SPOTLIGHT © SHUTTERSTOCK.COM / VADIM RATNIKOV management is instead about making the most out of existing facilities and pushing efficiency as far as it can be. This can be in terms of staff productivity, morale and motivation, reduction of business costs – or all of these things combined. It is a multi-stage process that takes many individual aspects of the business infrastructure into account. Gone are the days where managers might seek to drive their staff into exhaustion in efforts to increase productivity – as we now know that a workforce which is able to maintain an efficient pace continuously, is more valuable than one that is burned out too soon. Beyond that, with rising energy costs, fuel costs and the general cost of a living wage – there is a real push towards offsetting costs through overheads, rather than hoping for that lucky break on a new contract. For many in the food and chemicals industry, when facilities management is mentioned, this refers to some form of manufacturing plant – or processing line, often with tens of thousands of units travelling through the system on a daily basis. The smallest hiccoughs with efficiency on such a line can have drastic effects through the entire system, and considering that large retailers are some of the least forgiving in terms of deadlines – and that there are many competitors in this industry, then it becomes obvious that companies cannot afford to take any risks in this regard. Ultimately, maximising the efficiency of the manufacturing industry can go a long way to making the sector more environmentally friendly, and none of these methods require a sacrifice on the part of the manufacturer. The goal, as always, should be for manufacturers to work hand-in-hand with those in the renewables industry in order to see what can be done for the benefit of both. 16-19.qxp_Layout 1 29/10/2019 09:50 Page 4Next >