UK Export Finance given an extra £10bn to support increased overseas sales

Stuart Pearcey
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UK Export Finance given an extra £10bn to support increased overseas sales
UK Export Finance has been granted an extra £10 billion of capacity to drive more UK exports, raising its maximum exposure limit from £50 billion to £60 billion. The additional capacity will ensure the export credit agency’s continued ability to support UK exporters and to deliver on its mission: to advance prosperity by ensuring no viable UK export fails for lack of finance or insurance, doing that sustainably and at no net cost to the taxpayer. UKEF CEO Tim Reid said: “This is fantastic news for the UK companies that we are here to support. It means we can help more British businesses export and will enable us to support more jobs and help to fuel growth.” In 2021-22, UKEF provided £7.4 billion in financing to exporters of all sizes, which supported up to 72,000 UK jobs. The increased capacity will help UKEF continue to deliver on the government’s priorities, supporting economic growth and jobs in communities across the UK. UK Export Finance is committed to increasing its support in clean growth and climate adaptation. This new capacity will help build on the £7 billion of support UKEF has provided for sustainable projects since 2019, as it focuses on long-term, sustainable economic growth.

Drax invited to sit down with Government to discuss carbon capture project

Stuart Pearcey
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Drax invited to sit down with Government to discuss carbon capture project

Drax has been invited to talk to the Government immediately to move forward carbon capture project that the firm believes is the only one that canensure the Government is able to fulfil its restated commitment to achieving 5Mtpa of engineered Greenhouse Gas Removals by 2030.

Separately, the Government has stated that it will work closely with electricity generators currently using biomass to facilitate a transition to Power BECCS.

The Government has also confirmed that its response to the Power BECCS business model consultation, which took place in 2022, will be published imminently, providing further clarity on the delivery of BECCS as soon as possible.

Drax Group CEO Will Gardiner said: “Delivery of BECCS at Drax Power Station will help the UK achieve its net zero targets, create thousands of jobs across the north and help ensure the UK’s long-term energy security.

“We note confirmation that our project has met the Government’s deliverability criteria and Government remains committed to achieve 5Mtpa of engineered Greenhouse Gas Removals by 2030 – a goal that cannot be achieved without BECCS at Drax Power Station. We will immediately enter into formal discussions with Government to take our project forward.

“With the right engagement from Government and swift decision making, Drax stands ready to progress our £2bn investment programme and deliver this critical project for the UK by 2030.”

The Government recognises the important role which BECCS will play in delivering net zero and aims to deploy 5Mt of engineered CO2 removals per annum from BECCS and other engineered GGR technologies by 2030, rising to 23Mt in 2035 and up to 81Mt in 2050 to keep the UK on a pathway to meet its legislated climate targets, The Sixth Carbon Budget and net zero.

Drax Power Station is the UK’s largest single source of renewable electricity and BECCS is the only technology that can produce reliable renewable power, provide system support services and permanently remove CO2 at scale. 

BCC calls for better support for firms struggling with energy bills

Stuart Pearcey
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BCC calls for better support for firms struggling with energy bills
As businesses face an 85% decrease in total energy support the British Chambers of Commerce has highlighted the need for an energy support contingency plan, and is calling for increased, targeted help for firms who desperately need it. The BCC is also calling on Government to increase Ofgem’s power to strengthen protection for businesses in the energy market. Alex Veitch, Director of Policy & Public Affairs at the British Chambers of Commerce, said: “We have been signalling for months that many businesses will struggle to afford their energy bills when the financial envelope of support reduces by 85%, with many receiving a fraction of their original support. Almost half of firms say paying bills will be difficult. “But of the seven energy policies we advocated for the Government to include in this month’s Spring Budget, not one was acted upon. “Flexibility to increase support for those who desperately need it – ignored. Easing the burden of claiming VAT on energy – ignored. Funding for improved business energy efficiency – ignored. And so the list goes on. “Government also failed to heed our calls to increase regulation of the business energy sector. The energy crisis faced by firms and households are two sides of the same coin. Yet, non-domestic customers do not enjoy the same protection as households. “To ensure competition in the business energy sector, and solve market failures, Government must ensure Ofgem has the necessary powers to properly regulate the industry. We are also asking Ofgem and Government to introduce a ‘duty to supply’ mechanism to the non-domestic energy market, to ensure businesses can access fixed rates, providing them with certainty and stability. “Along with the reduction in energy support, businesses are facing several other changes in the business environment from tomorrow. Corporation tax is increasing, as is the national living wage, while a number of firms will see their business rates change due to revaluations. “These changes will have a significant impact, but Government is yet to offer any meaningful support to offset the challenges currently facing so many UK businesses.”

Construction starts on new Gainsborough business park

Tess Egginton
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Construction starts on new Gainsborough business park
Work has commenced on a new business park in Gainsborough, which will bring around 50 new jobs to the area. The new business park, named Wharton Place, is being developed by established Lincoln-based developer and contractor, Stirlin. Once complete, Wharton Place will see the delivery of over 18,500 sq ft of new employment space across 1.3 acres, with a mix of light industrial units in sizes ranging from 1,270 sq ft – 2,500 sq ft, for a variety of business uses. Wharton Place is Stirlin’s third commercial development in the area, following the success of their Stirlin Place and Willoughton Place. The site is located on Foxby Lane, adjacent Lincoln County Council’s Business Centre: Mercury House, with excellent access to major road networks. All ten units on the development will benefit from allocated parking, an electric sectional door, a personnel door and DDA compliant toilet facility, as well as an eaves height of 5 metres to accommodate a mezzanine floor upon request. Howard Griffith, Stirlin’s Head of Construction, says: “We are delighted to commence works on Wharton Place. We’re seeing a continued demand for modern, cost-effective industrial space in the area, which has prompted the commencement. “Our investment in the area is a testament to the town’s growing appeal as a thriving place to live, work and invest in. We are pleased to be able to help facilitate the growing local business base and bring new employment space to the area.” Jamie Thorpe, Chartered Surveyor for Pygott & Crone, says: “It’s very positive to see the development of Wharton Place being brought forward by Stirlin, highlighting the continued confidence in this sector. The Stirlin team have already delivered two very successful schemes in this location and it’s clear that Gainsborough has been needing new modern business space to accommodate demand in the region.”

RSK acquires Lincolnshire electrical specialist Hawkins Electrical

Tess Egginton
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RSK acquires Lincolnshire electrical specialist Hawkins Electrical

A company providing a specialist nationwide electrical service to the UK caravan park industry, Hawkins Electrical, has been acquired by RSK.

The company is a one-stop provider of all holiday and mobile home park electrical services, and offers bespoke design and installation, product supply and manufacture, inspection and maintenance, mandatory testing and remedial works.

Skegness-based Hawkins Electrical was founded in 1967 and its team of 74 includes qualified electrical engineers along with electrical apprentices and a skilled, experienced management team.

The company is proud to have a number of long-service employees with up to 40 years’ service, and two directors achieved their current positions after working their way up through the company from apprentice level.

Another of the directors is the founder’s nephew, who has worked for the business since school age, and the final director is a highly knowledgeable member of the Institution of Engineering and Technology (IET) with many years’ experience across different sectors of the electrical industry.

Hawkins has built its reputation on designing and installing private electrical distribution networks and providing quality products to the holiday and mobile home park industry, with a small element of works in the marina marketplace.

In partnership with Megger Instruments and the National Inspection Council for Electrical Installation Contracting, Hawkins Electrical has developed a bespoke testing software package for its technicians to use on site. The time-efficient automated system enables on-site technicians to give the in-office team full visibility of project works.

Managing Director Alex Farrow, who will continue to lead the business, said: “Our business has been built on a proud tradition of strong growth and ethics and we believe that joining the RSK Group will provide an excellent foundation to continue this ambitious trajectory. RSK offers considerable opportunities for expansion into new markets and being part of such a significant group is great for staff development and retention, which is very important to our entire team.”

Alan Ryder, RSK Group Chief Executive Officer, said: “Hawkins Electrical has an enviable reputation of innovation and client service – one of its customers has had a relationship with the business for 52 years – and this close alignment with RSK’s ethos is why we are proud to welcome the company to our group. Hawkins has earned a reputation that is unrivalled in the industry, servicing both the small and large sites with national holiday park operators.”

The acquisition adviser was Bishopsgate Corporate Finance.

Smart Repairs expands into Wales as turnover increases by 23%

Tess Egginton
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Smart Repairs expands into Wales as turnover increases by 23%
Smart Repairs.co.uk, the independent cosmetic vehicle repairer, has announced an increase in turnover of 23 per cent in the first quarter of this year. The Leeds company, based at 18,000 sq ft freehold premises in Weaver Street, saw its turnover grow to £2.1m between January and March this year. Overall turnover is predicted to rise to more than £9m this year. The recent appointment of experienced technicians across the south west of England and south Wales means that the flourishing company now has more than 100 staff across the country, with 40 based in Leeds. At least another 15 technicians are being recruited later this year, including new staff to strengthen Smart Repairs.co.uk’s operation in Yorkshire. Darryl Short, Managing Director, explained: “This has been a tremendous start to the year for us, the most successful we have ever had. Our decision to expand our operations to service the whole of the UK, rather than just the north of England, has paid off handsomely. “Apart from making serious inroads in Cornwall, Devon, Cardiff, Swansea and Newport, we have recently expanded into Scotland and we have further sustainable growth plans for the North West, the Midlands and the area by the M25 around London,” said Darryl. Smart Repairs.co.uk, which boasts most of Yorkshire’s major car dealerships among its clients, is co-owned by its founder Dan Besau and major investor Phil Newstead. The company carries out more than 200,000 vehicle repairs a year. As part of its national expansion programme this year, Smart Repairs.co.uk has invested over £500,000 in its van fleet and equipment already this year. Phil Newstead commented: “The second-hand car market remains buoyant, despite the cost-of-living crisis and the current economic uncertainty. The supply of new cars is also starting to normalise and this will have a further positive impact on our business. The outlook for the sector is positive and we have every reason to be confident about the future, though we will never be complacent. “We can see that our future lies in providing a quality repair offering across all of the UK, to warranty companies, insurers, dealer groups and vehicle remarketing companies. Our key aim is to be the largest smart repairer in the UK.”

Hallam Medical make growth move to larger Sheffield office premises

Tess Egginton
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Hallam Medical make growth move to larger Sheffield office premises
Specialist healthcare recruitment agency Hallam Medical, a provider of advanced practitioners and healthcare support, has relocated to larger premises in Sheffield.The firm, which employed 50 staff at its former HQ at City Gate on St Mary’s Gate, has taken 8,650 sq ft of space on the second floor of the eight storey building Westfield House and has already added 10 more employees with a further 10 being recruited next month.The 15-year deal was brokered by the Sheffield office of Knight Frank on behalf of health and wellbeing provider Westfield Health, with Ben Spencer from Wake Smith Solicitors providing Westfield’s legal advice.Situated on Charter Row, Westfield House has delivered 80,000 sq ft of high specification city centre offices and is wholly owned by Westfield Health, which occupies 50,000 sq ft of space in the building following a move from previous Division Street headquarters in 2016.Deborah McCain, CEO at Hallam Medical, said: “We provide highly skilled practitioners into settings and services throughout the UK, but we are proud to be based in Sheffield where it all began in 2007.“Our move to Westfield House comes at a time of continued growth and success, with an active recruitment drive currently underway.“The property is well suited to our needs and located in the centre of Sheffield.”Hallam Medical is a framework accredited recruitment agency and provides temporary staff into NHS and private healthcare services throughout the UK offering 1,000s of full time, part time and ad-hoc shifts in various settings and services across the UK.Peter Whiteley, partner and head of Knight Frank’s Sheffield office, said: “Hallam Medical has taken the second floor over a 15-year lease, and moved in after final fit-out work was completed.“Westfield House underwent an extensive refurbishment to the interior and exterior of the property by owners Westfield Health and its prime location adjacent to the Heart of The City phase two development makes it a highly desirable place for businesses to operate from.“In total Westfield Health has brought 30,000 sq ft of fully refurbished office accommodation in this building to market over the last few years, at a time when supply for quality, central office space in the city is relatively limited.”Ben Spencer, director in the commercial property team at Wake Smith Solicitors, added: “Having acted for Westfield for over 18 years including when they originally purchased Westfield House, I was pleased to act for them on this, their latest letting, and other ongoing property management work.”Hallam Medical joins tenants Bluestone Credit Management and Begbies Traynor alongside owners Westfield Health in the building, which also features an incubator hub on its ground floor.

Council prepares to ring fence £3m in fight to save airport

Stuart Pearcey
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Council prepares to ring fence £3m in fight to save airport

Next week the City of Doncaster Council Cabinet will discuss ring-fencing more than £3m towards the legal and programme costs associated with its ongoing fight to save Doncaster Sheffield Airport.

On Wednesday April 12, City of Doncaster Council’s Cabinet will discuss a report that sets out the current position in relation to Doncaster Sheffield Airport and the extensive activity being undertaken to secure the future of the airport. It also outlines the initial programme costs of up to £3.1m if a Compulsory Purchase Order is required. Doncaster Sheffield Airport closed at the end of 2022 following a short strategic review by its owners, despite the offer of financial support from South Yorkshire Mayoral Combined Authority and City of Doncaster Council. The project to re-open DSA has been called South Yorkshire Airport City. It aims to re-open the airport and grow a cluster of businesses and commercial activity that complements traditional aerospace functions, including logistics. The wider airport city development could incorporate employment, Research & Development, retail, leisure and residential opportunities, with excellent transport links, supporting new inward investment into Doncaster and South Yorkshire. Given the significant number of jobs and the major economic potential of Doncaster Sheffield Airport, the report highlights the council’s intention that the airport should be acquired from Peel with a view to its reopening. Whilst the Council understands that there have been credible financial offers to purchase DSA, to date none of these has been accepted by current owners, Peel. Peel has recently offered a lease of the airport to City of Doncaster Council. Discussions are taking place to progress this option and to explore whether a lease at a longer term and on a different commercial basis than that initially offered by Peel could provide a basis upon which to achieve the Council’s objectives. The Council will continue discussions with Peel over the potential sale but is continuing preparations in the event that a CPO becomes necessary. It is hoped that the legal and programme costs will ultimately be covered by regional funding recovered from a loan previously extended to Peel, with a decision by SYMCA on this funding anticipated in June 2023. Mayor of Doncaster Ros Jones said: “Sadly, our award-winning airport has now closed, but the fight is not over! Our aim is to reach agreement on the acquisition of the airport with Peel, but if necessary we will seek to compulsorily purchase the site and we are preparing for that eventuality now, should it be required. “The acquisition process will take time and it will not be cheap. However, this airport has the potential to be the jewel in the crown of the Doncaster and South Yorkshire economy. It is an investment in the future of this great city and the region. That is why this report to Cabinet sets out the latest position and asks for the support to progress our endeavours for the site’s future. I hope a sale can be achieved but, if not, we have to plan for other ways to secure the airport for the aviation industry, our communities and our economy.”

Green and clean: Hull firm sets benchmark for CO2 emission reduction ion

Stuart Pearcey
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Green and clean: Hull firm sets benchmark for CO2 emission reduction ion

Hull-based green cleaning product manufacturer Bio-D has achieved a 25% reduction in CO2e per single product it creates thanks to increased solar energy production and use of its electric boiler, meaning that all its products are manufactured using clean renewable energy.

Having secured its B Corporation Certification in 2022, Bio-D’s fourth annual report has been expanded to include the company’s B Corp Impact Report, which further measures, manages and improves its positive social and environmental performance. A leader in the global movement for a fair, inclusive, and regenerative economy, Bio-D is one of just 1,621 companies in the UK to hold the prestigious B Corporation certification, and operates from premises on Marfleet Environmental Technology Park on Hedon Road. MD Lloyd Atkin said: “Securing B Corp status was a huge achievement for the whole team at Bio-D. We were the first company in Hull to achieve the accreditation, and since then we have been contacted by others that want to learn about the process, which is fantastic.” This year’s Sustainability and Impact Report also details how it has also saved over 78 tonnes of CO2 emissions by creating its consumer bottles and five-litre refill containers from 100% post-consumer plastic. Bio-D was in fact the first UK consumer cleaning brand to use recycled plastics in its packaging. These reductions have meant that Bio-D is now net zero for all its scope one and two emissions. Mr Atkin added: “As a company that puts sustainability first, we’re always looking at ways to improve our processes to ensure we’re benefitting the environment as much as possible. “Whilst we have achieved so much over the last year, there are always ways in which we can further improve, which is why we have created goals to work on throughout 2023, including continuing to reduce our CO2e across the business, as well as conducting a life cycle assessment of our products and organising an external review of the site to see how else we can create energy savings.

Katherine gets partner role at Wilkin Chapman in Louth

Stuart Pearcey
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Katherine gets partner role at Wilkin Chapman in Louth

Katherine Marshall has been promoted as a partner at Wilkin Chapman to lead a new team offering dispute resolution and Will dispute expertise to clients across the Lincolnshire Wolds.

The newly-formed team, based in the company’s new offices at Oxley House in Louth, is the first time the firm has offered these services in the Lincolnshire Wolds area.

Wilkin Chapman is the largest law firm in the Lincolnshire and East Yorkshire region and Katherine Marshall has become a partner four years after joining. She said: “It’s an exciting time as we’ve just moved into our new Wolds office in Louth and we have a fantastic opportunity to establish a dispute resolution and Wills disputes presence in the Wolds area. We now have a dedicated team that can deal with those disputes and we have a good foundation from which to grow those two areas.

“There’s a team of three of us at the moment here in the Wolds, and we’ve only been working together for four months. It’s already working really well and we’re a very close knit unit. I’m looking forward to growing the team, growing the Will disputes offering and having a permanent dispute resolution presence in the Wolds to help those in the local area.”

Qualifying as a solicitor in 2009, Katherine undertook her training with a large regional firm. Following qualification she joined a niche litigation firm, dividing her time between its Lincolnshire and London offices. After the founder of the firm decided to end the business and become a barrister, Katherine joined Wilkin Chapman in 2018 and has now progressed into the role of partner. She said:

“Before joining, I already had a good working relationship with the various partners at Wilkin Chapman from when I had worked opposite them. So I just picked up the phone, had a few interviews and here I am now!

“Becoming a partner is always something I’ve wanted to do. When you start out as a trainee solicitor that is always the thing that you’re ultimately aiming for. My family has farmed on the edge of the Lincolnshire Wolds for several generations, and I attended school in Horncastle and so I have a strong link to the local area and to the agricultural sector in the region too.”

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