‘Trust deficit’ costs SMEs thousands every year, report shows
Struggling to know who to trust when doing business online has created a ‘trust deficit;’cost SMEs thousands every year, says B2B search platform B2B Stars.
The research highlights how nearly 30% of businesses are struggling to build trust with new contacts, while 29% report finding it hard to distinguish between fake and genuine profiles on places like social media platforms. As a result, SMBs are losing an average of £93,000 a year due to poor decisions driven by unreliable information, false profiles, and misleading claims.
Compounding the financial pressures that many small companies already face, it’s said this lack of trust online leads to inefficiencies and ineffectiveness in finding the right companies to partner with. The ultimate long-term consequence is a reduced competitiveness and growth of the UK’s SMB sector.
Raffaele Apostoliti, CEO of B2B Stars, Said: “The digital landscape has created fantastic opportunities for businesses to connect, but without trust, these connections can become liabilities. Small businesses are particularly vulnerable because they don’t always have the tools to verify whether the companies they’re dealing with are real and which of the companies are the right ones to partner with. And when things go wrong, it’s not just a missed opportunity – it’s a significant financial hit.
“The antidote to this ‘trust deficit’ is community. By fostering online spaces where businesses can connect with transparency and confidence, we can rebuild the trust that’s been lost.”
With nearly a third of SMEs fearing they may be forced to close by the end of the year due to mounting financial pressures according to government data, the lack of reliable insights is compounding existing challenges like rising costs and shrinking demand.
“Small businesses are the backbone of our economy, and they rely on trusted connections to survive and grow,” Apostoliti adds. “But when you can’t tell who to trust, it slows everything down – businesses become isolated, hesitant to take risks, and they miss out on opportunities. We need to create stronger insights online, which can boost trust across businesses.”
Strong levels of M&A activity expected in UK manufacturing
Strong levels of M&A activity are expected across UK manufacturing for the remainder of 2024, as dealmakers see a rise in business confidence.
According to accountancy and business advisory firm BDO LLP, M&A activity looks set to gain momentum in the final quarter of the year, as long as the political and tax backdrop remains conducive to dealmaking. However, reports of a potential rise in capital gains tax in next month’s Autumn Budget could impact sentiment towards M&A transactions.
BDO’s latest Manufacturing Deals Review shows that in the first half of 2024, 307 deals were completed in the sector, across the likes of engineering services, food & drink, building products and packaging and materials. Of these, 18% were buy-outs, with cross-border deals representing a third of transactions (34%).
Roger Buckley, Deal Advisory partner, Industrials and Manufacturing, at BDO, said: “While overall deal volumes remained relatively steady compared to 2023 figures, we expect to see strong levels of M&A activity over the coming months, with the market keeping a watchful eye on the Chancellor’s first Budget announcement at the end of October.
“Manufacturing remains one of the most resilient sectors, with a wide range of market drivers motivating M&A activity. This includes ESG, with the circular economy becoming a growing feature in manufacturing deals, reaching across all sub-sectors. Unsurprisingly, for the third year in a row, the sector has attracted the most circular economy-related investment, accounting for over a third of total deals by volume.”
In 2023, manufacturing saw a 25% increase in circular economy deal volumes, combined with the total deal value soaring to over £400 million of invested capital. The average disclosed deal size increased from £6.7 million to £12.2 million.
Buckley said: “The correlation between manufacturers making their businesses more sustainable and higher circular economy deal volumes is clear to see. More and more UK manufacturers are embracing circularity – a trend that is accelerating due to strong consumer attitudes towards sustainability and investors showing a significant interest in businesses addressing this issue.”
According to a BDO/Make UK survey of more than 200 SMEs in the sector, 40% of respondents believe that operating a circular business model will be more profitable than a linear model, suggesting an increase in manufacturers’ understanding of the economic benefits of circularity. The survey also showed that more than half of businesses (56%) plan to make circular changes in the next three years, with nearly a third (32%) stating that circular or sustainability credentials differentiate them from their competitors.
Rory McPherson, Deal Advisory partner at BDO, added: “Given the pace at which society’s attitude towards sustainability continues to change, it won’t be long before positive environmental credentials are seen as a minimum standard as opposed to a cherry on the top.
“For those who resist change without good reason, the lack of circular and sustainable practices will inevitably become a negative differentiator and dissuade customers from engaging. At the point the customer stops buying, it might be too late.”
Keepmoat signs lease on Alexandra Dock site in Grimsby
A lease that will result in new housing in the Alexandra Dock area of Grimsby has been signed with Doncaster-based homebuilder Keepmoat.
The 6.25-acre town centre site bordered by Fisherman’s Wharf and the River Freshney will eventually see a community of around 130 homes with supporting commercial accommodation.
The brownfield site has been the subject of consultation with developers in the housing market since November last year. This is a process where developers register an interest in the site, and then, through rounds of discussions, submit a final bid to take over the build lease of the site which then allows them to put in a planning application for their proposals.
Investment worth about £7.8m to support the development at this site has already been secured through the Government’s Towns Fund, and the build will be supported by brownfield funding secured as part of the Greater Lincolnshire devolution deal.
Cllr Philip Jackson, Leader of the council, said: “We want to create a place that connects the town and its community with its waterside, creating a fantastic urban living environment.
“North East Lincolnshire must develop as a place where people want to live and work. If that does not happen, we risk stagnating as a borough. We’re committed to making sure that does not happen.”
“There’s a long way to go yet, and developments of this scale don’t happen overnight. But we are working to improve the town centre as a whole and this is part of that vision.
“We want people who work in our borough to also live here as this will maximise the economic benefits to the area.
“Step-by-step, along with other initiatives in the town centre, we’re changing how our town centre can be used safely, and enjoyed by everyone.”
Ben Hindley, Regional Land and Partnership Director at Keepmoat, Yorkshire East, added: “We’re excited to be working in partnership with the Council to regenerate a large parcel of brownfield land and deliver new homes in Grimsby.
“At Keepmoat we pride ourselves on supporting local authorities to achieve their housing targets and we are honoured to be the housebuilder of choice for this project, selected to create much needed quality housing stock for generations to come.
“We are approaching the project in the Alexandra Dock area of Grimsby with healthy life principles in mind, to ensure the scheme is not only visually appealing, but has plenty of available green spaces for walking, cycling and spending time outside.”
Interest rates held at 5%
The Bank of England has held interest rates at 5%, in line with expectations.
The Monetary Policy Committee (MPC), which sets monetary policy to meet the 2% inflation target, voted by a majority of 8–1 to maintain Bank Rate at 5%. One member preferred to reduce Bank Rate by 0.25 percentage points, to 4.75%.
The news follows last month’s reduction in interest rates, which marked the first decrease in four years.
Alpesh Paleja, Interim Deputy Chief Economist, CBI, said: “The Monetary Policy Committee was widely expected to hold fire this month, after the first rate cut in four years in August. There remain very varied views among the MPC around the degree of inflation persistence, and over what horizon this will dissipate.
“Monetary policy will be walking a fine line for a little while yet: between balancing upside risks to inflation, but not being too tight, so as to choke off activity. Developments in fiscal policy in October’s Budget will also be a key consideration for growth prospects.
“We still anticipate another rate cut in November, and a few more next year, in line with the MPC moving at a slow but steady pace. On their own, lower interest rates will be a welcome respite to households and businesses.”
Made Smarter calls for food and drink manufacturers to open up factories for National Manufacturing Day
Made Smarter is calling for food and drink manufacturers to open their factories to schools, colleges and the local community for National Manufacturing Day on September 26.
The government-funded, industry-backed programme, which helps manufacturers connect with technology and skills, is involved in events across the North West, North East, and Yorkshire and Humber.
Run by trade body Make UK, and now in its third year, National Manufacturing Day (NMD24) has become a national celebration of UK manufacturing and a chance to raise the sector’s profile.
Businesses are encouraged to sign up for a UK-wide ‘open house’, allowing members of the public to experience first-hand what manufacturers do, how they make some of our most loved household brands, and how they use the most cutting-edge technology.
With manufacturing vacancies high, the labour pool shrinking and makers needing help finding recruits with the right skills, NMD24 is a golden opportunity to demonstrate potential careers and jobs on offer, from engineering and robotics to data analysis and innovation.
Commenting on NMD24, Donna Edwards, director for Made Smarter North West, said: “I am delighted that Made Smarter and manufacturers involved in our adoption programme are demonstrating support for Make UK’s campaign.
“NMD24 aligns perfectly with the programme’s ambitions to help SME manufacturers achieve their digital transformation with a people-led approach and using technology as a tool.
“It is a fantastic opportunity to celebrate UK manufacturing and emphasise the role of Science, Technology, Engineering, and Mathematics (STEM) to encourage more students to pursue these subjects, something Made Smarter is passionate about.
“By opening their factories, which are normally closed to the public, it is the perfect opportunity for manufacturers to showcase the huge progress that has been made from the traditional oily rag image towards the smart modern factory. I would encourage more manufacturers to join the campaign.”
Elsewhere in the country, Made Smarter Yorkshire and Humber are hosting workshops demonstrating the benefits of better data capture and management, as well as how manufacturers can unlock innovation through new technology.
Made Smarter is also holding a special LinkedIn Live to celebrate the programme’s impact nationwide. The bite-sized broadcast will take place on Thursday, September 26 at 12pm.
From a national perspective, Brian Holliday, co-chair of the Made Smarter Commission, which leads the Adoption and Innovation programme, will share his insights for a special ITN programme to highlight the positive impact of the manufacturing industry. The show, ‘Manufacturing: Industry, Innovation and Impact’, will go out on NMD24 and will feature contributions from Made in Britain and The Manufacturing Technologies Association.
Stephen Phipson, CEO of Make UK, the manufacturers organisation, added: “National Manufacturing Day is a really exciting day where the whole manufacturing sector will come together to celebrate the amazing things that Britain designs and makes.
“Britain’s manufacturing companies are at the forefront of global renewable technology development and some of the most innovative engineering developments seen anywhere around the world.
“This is a sector with amazing opportunities and we hope this third National Manufacturing Day will give people who have never had the chance to see inside their local businesses just what is going on and the opportunities available to them.”
Saffery makes partner promotion
David Bussey has been promoted to partner at chartered accountants and business advisers Saffery. David works within Saffery’s land and rural property group in Yorkshire and has been with the firm 24 years.
With a wealth of experience in providing accounting and tax advisory services to landowners, families and owner managed businesses, in his new role David manages a team of over 20, overseeing clients based across Yorkshire and the North of England.
David said: “Starting out at Saffery as a trainee in 2000, has turned out to be one of the best decisions I ever made, though I didn’t know that at the time! It was a smaller firm in those days but with an excellent reputation and once qualified, I had a mixture of landed estates and trust clients, along with some family-owned businesses to look after.
“Since then, the firm has grown, but never lost sight of the importance of forging long-term relationships and always planning for the future. I still work with many clients from the early days, which is a testament to that.
“Much of my work now centres on advising rural landowners, helping clients navigate often challenging and complex situations and being a trusted advisor in what are increasingly uncertain times for the sector.
“Typically, there is a focus on succession planning, and ensuring that clients’ financial affairs are organised in a way that is both tax efficient and commercially appropriate, but always with the needs of the family and their long-term strategy in mind.
“Similar themes recur in my work with family-owned companies, albeit their businesses are often very different. Seeing clients succeed in achieving their objectives and protect their assets for future generations is what makes the job so rewarding.”
Fellow Saffery partner and head of the firm’s Yorkshire office, Jonathan Davis, said: “David plays a pivotal role in our land and rural property group and his promotion is a reflection of our commitment to offering a partner-led approach for each and every client.”
David is a Chartered Accountant and a member of the Society of Trust and Estates Practitioners (STEP). He sits on Saffery’s internal Estates Discussion Group and Agribusiness Group, as well as being a member of the firm’s Valuations Forum.
Large firms to be held to account over late payments
The government has unveiled new measures to eradicate late payments from large firms to small ones and the self-employed, which are estimated to cost small firms £22,000 a year on average and lead to 50,000 business closures each year.
All large businesses will be required to include payment reporting in their annual reports – putting the onus on them to provide clarity in their annual reports about how they treat small firms. This will mean company boards and international investors will be able to see how firms are operating.
Enforcement will also be stepped up on the existing late payment performance reporting regulations which require large companies to report their payment performance twice a year on GOV.UK.
Under current laws, responsible directors at non-compliant companies who don’t report their payment practices could face criminal prosecutions including potentially unlimited fines and criminal records.
The consultation which will be launched in the coming months, will also consider a range of further policy measures that could help address poor payment practices.
Every quarter, 52% of small firms in the UK suffer from late payments, meaning roughly 2.6 million small firms face this issue, with the Federation of Small Businesses describing it as one of the biggest problems facing SMEs.
Business Secretary Jonathan Reynolds said: “Late payments are simply unacceptable and this government is determined to level the playing field for small business. When the cashflow runs dry, small firms go under, which is why we need to hold larger business to account with their payment practices and foster an environment that supports growth and jobs.
“Slashing trade barriers, reforming business rates, getting more SMEs exporting – this government is committed to small firms. We know there’s a lot more to be done, but today we are calling time on late payers once and for all.”
Tina McKenzie, Policy Chair at the FSB, said: “This is what real change looks like. Listening to small firms and prioritising action to tear down each and every barrier to growth.
“The Business Secretary has clearly recognised the importance of eradicating bad payment culture, which so devastates the UK supplier base and holds back growth. This series of actions today – including the crucial steps being taken to deliver on Jonathan Reynolds’ commitment on audit committees – shows the Government is rightly focused on delivery and working in partnership with the business community.“There will be so many decisions the Government needs to get right, early – an actively pro-small business budget, a good industrial strategy and tackling late payment. Announcing this programme of work today is a huge confidence boost for the small business community and a clear signal the new Government intends to stand up for small firms.”
IT service provider names new Chief People Officer
Victoria Jackson has been named as Chief People Officer with IT managed service provider BCN, which employs about 400 at offices in Leeds, Manchester, Reading, and Belfast.
Victoria has been in the HR industry for 20 years and is a Chartered Fellow of the CIPD. With a background in a range of different industries, from boutique independents to FTSE100 businesses, as well as holding a trustee and board member role at the Octagon Theatre in Bolton.
She said: “I’m extremely excited to have been appointed as CPO at BCN. The business has built up a strong people-first ethos over the years, and I am looking forward to supporting this. Ensuring that both existing and new staff members feel supported at all times will help maintain the exceptional quality of work and technical expertise at BCN. I can’t wait to get settled in and nourish the company’s people culture and promote employee growth and success”.
Rob Davies, CEO of BCN added: “At BCN, we pride ourselves in creating a workplace where talented employers have room to grow and keep up with industry trends and changes. Therefore, we are delighted to welcome Victoria as our new CPO to oversee our HR and talent functions. By hiring and maintaining the best technical experts, through providing a culture, support and business goals which align with employees needs ensures that we are ahead of the curve of advancing technologies”.
Wind power specialist moves to new head office in Hessle
Wind power specialist Boston Energy has moved to a new head office as the company sets its sights on accelerated growth.
Boston Energy’s new home, located at Hesslewood Office Park in Hessle, East Yorkshire, is a modern 3,300 sq ft open plan office, complete with an atrium, breakout spaces and wellbeing room.
The office, and spaces inside, will accommodate the company’s growing team and business operations, as Boston Energy works as a partner to the world’s leading wind energy OEMs (Original Equipment Manufacturers) and developers.
The move signals the start of a new chapter for Boston Energy, having split off from parent company Bostonair Group following significant investment from private equity firm LDC last year.
Boston Energy CEO Julian Cattermole said: “Our office move coincides with a period of significant growth. It provides us with much-needed space for both our current team and also to accommodate continued expansion, as we position ourselves as a partner of choice.
“Boston Energy has evolved and expanded significantly throughout its 12-year history. As the wind industry continues to move at pace to meet the UK’s ambitious net zero targets, we remain a key player at the heart of it.
“We’ve supported some of the world’s largest wind farm projects, including Dogger Bank off the North East coast, and are trusted partners of leading organisations including Vestas, GE and Siemens Gamesa.
“Our new office is a symbol of that success and the progress we’ve made so far and sets us up perfectly for the future.”
Plans submitted for next phase of Our Cultural Heart in Huddersfield
Kirklees Council has submitted updated plans for the second phase of its Our Cultural Heart development in Huddersfield town centre, concentrating on a flagship new museum and art gallery in the former library building on Princess Alexandra Walk.
Construction on Phase One of Our Cultural Heart is underway, with the former Queensgate Market building being transformed into a food hall and adjoining new community library.
Lead construction contractor BAM has already completed significant site preparation, with work including the ‘soft stripping’ of all non-structural and internal fixtures and fittings, as well as the removal of the former market stalls and asbestos.
This ‘Section 73’ planning application and Listed Building Consent for Phase Two of the masterplan includes the major refurbishment of the Grade II Listed building that, until recently, housed the town’s library.
The designs by architect FCBStudios will see the historic four-storey building become a flagship museum and art gallery, helping to attract more visitors to the town and creating exciting opportunities for local businesses and the region’s culture sector.
A sympathetically designed extension to the north will enhance accessibility and create uninterrupted connections to the surrounding spaces. Public access will be via a new ramp unlocking universal access to the historic entrance to the south and level access to the new extension.
The ground floor will house the reception, museum and gallery shop, and a 50-seat café with outdoor terrace, while the lower floor will provide storage, building facilities, event and education spaces.
The museum’s exhibitions will be housed across two floors, with the top floor reborn as the art gallery. Many of the flexible spaces within the museum and art gallery will be available for hire, allowing for opportunities to showcase a huge mix of talent from across the region.
Councillor Graham Turner, Cabinet Member for Finance and Regeneration, said: “This is an exciting moment for the Our Cultural Heart programme, as construction begins on the new food hall and library this month, and plans are now in place for the second phase of the development.
“Our decision to phase the programme was always about ensuring its successful delivery, not reducing our overall ambition. We believe the new museum and art gallery has the potential to become one of the leading cultural destinations in Yorkshire, showcasing the rich stories and talent of Huddersfield and the wider Kirklees borough.
“Not only will it help bring more visitors to our town centre, but it also ensures the long-term viability of one of our most treasured heritage buildings.”
Dales businesswomen get new leaders to drive innovation in rural communities
A network to connect business women across the Yorkshire Dales and help drive forward innovation in the county’s rural communities has been relaunched.
The Dales Business Women group brings together professional, entrepreneurial and self-employed women in and around the Dales and surrounding areas, offering support and advice.
Set up seven years ago, the group now has two new women at its helm. Photographer Katy Howe has joined forces with North Yorkshire Council’s senior economic development officer, Alison Laws to run the network from this week
Mrs Howe said: “North Yorkshire has such a great resource of like-minded women, who are passionate about achieving their goals.
“In this region, there is a perception that there are few business opportunities, a position that Dales Business Women aims to shift. The Yorkshire Dales and the surrounding areas are full of entrepreneurial and industrious women who are making a difference.”
Cllr Carl Les, the leader of the council, said: “Groups like Dales Business Women are vital as a way of meeting, sharing thoughts and ideas and helping businesses to grow and flourish.
“Connecting with people in the rural areas can be more difficult so we support any organisation that helps that to happen.”
The FSB’s development manager for York and North Yorkshire, Carolyn Frank, said she is delighted to see the relaunch of the group.
She said: “Having a local network is so important to a small business, from expanding your contacts and finding new opportunities, to accessing local business advice, but most of all building strong and authentic relationships to support you through the ups and downs of business life.
“This is a super friendly and proactive group and a key organisation for women in enterprise in North Yorkshire. We know when women in business collaborate magic always happens, and we look forward to hearing about the network supercharging local businesses going forward.”
Subscriptions will be £10 per month with meetings being initially held on the first Wednesday of every month from 11.30am until 1.30pm.
Europe’s largest independent gas turbine service provider moves to Teal Park
Gas Turbine Services has signed a new lease on 13,347 sq ft of industrial accommodation on Teal Park on Lincoln’s Whisby Road.
The firm is moving from its current Leafbridge Business Park premises to Teal Park – regarded as the epicentre of industrial gas turbine maintenance in the Lincoln area.
The move to Teal Park follows identification by the business, two years ago, that its Leafbridge Business Park facility would limit future expansion, not only in engine throughput but also in responsiveness to the ongoing changes and competitive demands of the energy market.
The new base at Teal Park sees Gas Turbine Services move to a facility which was originally built and designed for the express purpose of gas turbine support & maintenance and, according to Robert Dye, Technical Director and co-owner, the new base means a swift and seamless transition to meet the company’s current and future expansion requirements.
He said: “For our specific sector specialisation, there was never any question of relocating outside of the Lincoln area – especially taking into account the wealth of local expertise and knowledge as we recruit and expand our business.”
Eddison’s Director William Wall, who led the property deal on behalf of the landlord, added: “Gas turbines are one of the long-established specialisms of the manufacturing sector in Lincoln and the surrounding area.”
“The county’s position on the map, with access to the east coast ports and a road network to the engineering hinterland of the East Midlands, makes it a prime location for operators in the energy sector.”
Gas Turbine Services, part of the Anglo-Danish HKJ Group, was established more than 30 years ago. Headquartered in Esbjerg, Denmark, it has been operationally based in the Lincoln area for the past 16 years.
Forgemasters’ charity football event raises more than £2,000
Sheffield Forgemasters is pleased to announce its annual Charity Football Tournament raised a record-breaking amount for Suppport Dogs!
Donations for this year’s event amounted to £2,124.50 for Support Dogs – Sheffield Forgemasters’ highest amount of football fundraising so far.
These generous donations, mostly from our employees, contractors, their friends and families, have brought our total for Support Dogs to £17,993.94 in pursuit of our £20,000 target – the cost of training one specialist dog to assist people with epilepsy, physical disability and children with autism.
The tournament, hosted at the Sheffield Olympic Legacy Park Community Stadium, saw ten teams from across Sheffield Forgemasters play in a great spirit of healthy competition.
Yorkshire Water creates alliance to protect 140,000 businesses from storm overflows
Yorkshire Water has created a Storm Overflow Alliance to deliver up to £1bn of capital investment in AMP8. The alliance is a significant and strategic partnership between Yorkshire Water, AtkinsRéalis, Morrison Water Services, Stantec, and Ward & Burke.
Yorkshire Water serves more than five million customers and 140,000 businesses, in addition to millions of visitors to Yorkshire each year, and covers an area of around 12,000 square kilometres. The establishment of the Alliance represents a bold commitment to addressing storm overflow discharges and the associated environmental impacts on river and coastal waters.
The alliance will be a truly integrated, high performing industry leading team that will deliver high quality sustainable solutions and world class performance for Yorkshire Water as it undertakes its ambitious investment plans for the next five years. The plans, which are currently awaiting approval from Ofwat, could see over £1bn being invested to reduce storm overflow operation in the region.
The contract will run throughout the AMP8 period for an initial period of five years, with the option to extend for another five.
As a dedicated organisation, the Alliance will collaboratively provide comprehensive engineering solutions, including strategic planning, design, management, and delivery of critical infrastructure. It will explore opportunities from increased storage capacity within wastewater treatment works, to smarter sewer network operations – with a key focus on blue-green solutions.
The partnership has a shared commitment to sustainability, to protect and enhance the environment, and to create social value. By prioritising local employment and engaging local supply chain partners with a focus on low carbon materials and construction methods, the Alliance will further support the communities within Yorkshire Water’s service area. It will also ensure efficiencies, so customers see value for money in the work that is being done.
Jon Stokes, Head of Storm Overflow Alliance at Yorkshire Water commented: “We’re really excited to get started with our ambitious plans for the next five years. We know we need to do more to improve our network, and this new partnership will help us to deliver our largest ever environmental investment which will create a significant step change in how we operate. Our storm overflows operate more often than we, and our customers, would like. This new partnership will help change that and bring wider benefits to the region such as more jobs and more green spaces for our communities.”
Commenting on behalf of the partner executives, Iain Sutherland, Managing Director of M Group Services’ Water Division said: “We are proud to be part of the Yorkshire Water Storm Overflow Alliance alongside AtkinsRéalis, Stantec and Ward & Burke, a collaboration committed to delivering tangible, lasting improvements to Yorkshire’s wastewater infrastructure. Together we’ll enhance the region’s storm overflows and the surrounding infrastructure and systems. This will play a key role in transforming river and coastal water quality, as well as the ecosystems they support.
“By adopting innovative technologies and sustainable practices, we aim to ensure that the benefits of this investment are felt for generations, fostering a healthier environment and a stronger future for the region.”
Greater Lincolnshire’s devolution deal gets the green light
Devolution for Greater Lincolnshire is to go ahead, bringing together North East Lincolnshire, North Lincolnshire, and Lincolnshire County Council together as the Greater Lincolnshire Combined County Authority.
It’s expected that devolution will progress through its final legislative stage to allow the forming of the new authority before the Mayoral election next May.
The Leader of North East Lincolnshire Council, Cllr Philip Jackson said: “I am sure I share the sentiments of the Leaders of Lincolnshire County Council and North Lincolnshire Council, when I say this is the best possible news we could have hoped for. Months and months of dedicated hard work and effort has been put into creating a vision for Greater Lincolnshire that will offer a cohesive approach – allowing this region to grow and prosper.
“Our deal was supported by the last Government with millions of pounds of funding agreed to be devolved down to our new Greater Lincolnshire Combined County Authority to ensure we would be able to truly invest in our key priority areas, which will underpin our positive way forward.
“I am therefore delighted that Greater Lincolnshire devolution continues to have the support of the country’s new Government and I now look forward to continuing our journey towards more local control with funding and powers handed to those who are closer to the communities they serve. We have a chance to make a real difference.”
Lincolnshire County Council Leader Martin Hill said: “This is great news and I’m pleased we are able to move forward with devolution to deliver growth in Greater Lincolnshire. We have always been clear that strengthening local decision-making where we consider the needs and wants of our communities, will give the best results for residents and businesses.
“It’s clear that having a Mayoral Combined Authority will give us the ability to liaise directly with the government about what is best for our residents and be able to achieve our ambitious plans more quickly. The decision to take this forward reflects our strong partnership work with North Lincolnshire and North East Lincolnshire councils, and the hard work we have all put in to making sure it’s the right deal for our area.”
Cllr Rob Waltham of North Lincolnshire Council, said: “Our £720m deal was supported by thousands of residents and has been on the table for years and negotiated earlier this year. At last, we can get to work on seizing this monumental opportunity – bringing better paid jobs to the area, boosting skills, expanding local infrastructure and enhancing our environment across Lincolnshire.
“We will continue to strengthen ties across our great historic county – I am incredibly proud to have been born, educated and lived and worked in Lincolnshire for most of my life and to have 10 generations of my family living throughout Lincolnshire. We are a great county full of inspirational people who deserve the best opportunities for them and their families as we seek to level up Lincolnshire to deliver a better quality of life for local residents.”
The financial Deal remains the same as finalised between the three lead authorities and the previous Government, with a total investment fund of three-quarters of a billion pounds over the next 30 years. This includes an annual £24m Mayoral Investment Fund to invest in priority areas of jobs and skills; housing & highways, transport, the environment and nature, net zero, digital improvements, and innovation and trade.
There is also an initial capital funding pot of £28m including brownfield funding for individual schemes across Greater Lincolnshire. In North East Lincolnshire this will support the phase one development of a Grimsby Town Centre Transport Hub, along with the new housing scheme for the town’s Alexandra Dock.
B2B suppliers starting to offer longer payment terms, finds new report
One in six B2B suppliers are offering their business customers over two months to pay their invoices as a route to securing sales – twice as many who offered such terms in 2020.
That’s the finding in a new joint report from economic consultancy Cebr and lender iwoca, which reveals the number of suppliers offering repayment terms over 60 days to customers has surged from just 7% of suppliers in 2020 to 17% this year.
This comes as more businesses are asking for payment flexibility from their suppliers, says the report. More than eight in 10 suppliers say they have to adjust payment terms for business customers, nearly twice the rate four years ago.
Changes are having to be made to secure sales, as two in three B2B sellers report that offering trade credit increased their number of sales. Three out of four (75%) suppliers offer longer repayment terms for loyal or large customers, or for bigger orders.
On the other side of the deal, nearly half of surveyed business customers reported avoiding using a supplier, or considering doing so, due to short or non-existent payment terms.
The report, called Credit Where It’s Due, says the change is a welcome trend for buyers, outstanding payments in 2024 are more common than they were at the height of the pandemic. Nearly half of UK suppliers serving business customers are now owed in excess of £10,000 from their trade customers, up 13pp from 2020 levels. A third of suppliers are very confident that their invoices will be repaid, but fewer than one in three (29%) are ‘very confident’ in assessing customers’ creditworthiness.
iwocaPay co-Lead Lara Gilman said: “The sector has always talked about payment terms in the context of big corporations trampling over small ones. But since the pandemic it’s clear that across the board, firms – including SMEs – are now calling for flexibility from their suppliers to keep business moving.”
Christopher Breen, Head of Economic Insight at Cebr said: “Trade credit continues to be an important tool in B2B transactions, offering buyers the flexibility to purchase now and pay later. However, it presents challenges for suppliers, such as late payments and the potential accumulation of bad debt. “Despite these risks, an overwhelming majority of B2B suppliers offer some form of payment terms, recognising the importance of trade credit in securing sales. The already widespread use of trade credit systems presents an opportunity for them to be modernised by the use of digital solutions, which could help both suppliers and customers to navigate these financial pressures effectively.”York Handmade secures hat-trick of National Trust commissions
York Handmade Brick Company has landed a hat-trick of prestigious commissions from the National Trust.
York Handmade, based at Alne, near Easingwold, is suppling bricks for Little Moreton Hall in Congleton, Cheshire, Dunham Massey in Altrincham and Goddards in Tadcaster Road, York.
The three Trust properties are currently being renovated.
Mark Laksevics of York Handmade said: “We are tremendously proud to be playing such a pivotal role in the appearance and construction of three of the National Trust’s most distinctive properties in the north of England.
“Our relationship with the National Trust has blossomed this year, which is allowing us to manufacture and showcase our finest special bricks. These bricks perfectly complement the unique character of all three properties and merge seamlessly with their historic appearance.”
Little Moreton Hall is an iconic moated and half-timbered Tudor manor house with a quirky character and gorgeous gardens. The National Trust has been restoring two historic chimney stacks this year, with the help of York Handmade.
John Evans of the National Trust explained: “The repointing of the chimney stacks at Little Moreton Hall required replacement bricks and, as York Handmade are widely known in the conservation sector for their handmade bricks, they were the obvious choice to help us with this project.
“The company provided four different blends and sizes of bricks for this project, which has been completed successfully. They have been very helpful and great to work with and I would heartily recommend them.”
Meanwhile Dunham Massey Hall is a magnificent 17th century English country house, near Altrincham, Greater Manchester. It boasts a walled garden for all seasons, an ancient deer park and a house filled with treasures from the last four centuries.
Paula Baron of the National Trust explained: “We are using York Handmade’s bricks on the chimney of the Coach House and on two barns on the wider 300-acre estate. The work will be completed by the end of this year, weather permitting. We have ordered a constant supply of York Handmade’s brick to ensure we don’t run out.
“The open texture of their bricks was a good match and perfect for this project. We have built up an excellent relationship and we had a wonderful behind the scenes tour of York Handmade’s factory when we came over to York for the day. They couldn’t have been more accommodating.”
Finally, York Handmade has just begun supplying bricks for the restoration of Goddards, one of York’s finest private houses, situated in Tadcaster Road, close to York Racecourse. An Arts and Crafts house, it was built in 1927 for Noel and Kathleen Terry of the famed chocolate-manufacturing family Terry’s. It was designed by the great York architect Walter Brierley and was acquired by The National Trust in 1984.
Mark Laksevics concluded: “It has been a joy to work with the National Trust on these projects. The role the Trust plays in conservation and enhancing the UK’s heritage is absolutely crucial and for us, as a company, to support the Trust in this role is both deeply satisfying and humbling. We hope this special relationship continues for many years to come.”
Adtran expands UK operations with York distribution center
Adtran has opened a new 20,000-square-foot distribution center in York.
The facility expands Adtran’s UK operations, supporting the deployment of its end-to-end fiber infrastructure solutions, including optical transport, Carrier Ethernet and access equipment.
By enhancing logistics capabilities, the new center will enable faster delivery of essential network components. It will support a wide array of services, such as testing, production and customization of hardware and software. The facility also underscores Adtran’s commitment to sustainability and the highest standards of environmental performance.
Paulus Bucher, senior VP of global operations at Adtran, said: “Our new distribution center is designed to meet the demands of the UK’s rapidly expanding fiber broadband network. For over 20 years, York has been central to our UK strategy, serving as a vital hub that allows us to efficiently support service providers across the country.
“This new facility builds on that strong foundation, enabling faster, more cost-effective and more sustainable deployments to ensure high-speed broadband reaches both major cities and remote rural areas across the UK.
“From our York campus, we’re providing service providers of all sizes with the tools they need to build and expand fiber infrastructure. Through our comprehensive portfolio of networking equipment, from optical transport and Carrier Ethernet to residential solutions, we’re ensuring they can deliver high-speed, reliable connectivity from the core and through the door.”
The new distribution center, Sovereign House, has earned an “excellent” rating from the Building Research Establishment Environmental Assessment Method, highlighting its top-tier environmental performance.
“Sovereign House is part of our strategy to strengthen our supply chain and ensure resilience against disruptions. By centralizing logistics, we’re able to enhance efficiency and speed up the delivery of essential broadband technologies to our UK customers,” said Stuart Broome, GM of EMEA sales at Adtran.
“This facility will enable service providers to roll out multigigabit fiber and AI-driven solutions more rapidly, allowing them to seize new market opportunities and better serve their communities nationwide. With sustainability and power efficiency at the core of its design, Sovereign House also reinforces our commitment to environmentally responsible operations.”
Company importing through Humber docks takes space at East Yorkshire business park
A Hull company which imports products through the Humber Docks to be distributed to customers in West Yorkshire has taken space at one of East Yorkshire’s biggest business sites.
Humber Storage Solutions are now permanent tenants of Units 7 and 8 at Dianthus Business Park, in Newport.
It will see the business benefit from having 136,000 sq ft of industrial space, situated a short distance from Hull, Immingham and Goole Docks, and with immediate access to the A63 and onto the A1 and M62 across the country.
The deal to secure the property was handled by Garness Jones. Senior Surveyor Chris Hyam says: “This is a fantastic location for Humber Storage Solutions and will really aid their business activities as they store and distribute products imported through the Humber Docks, which are then transported down the motorway to a facility for a major international client in West Yorkshire.
“In terms of businesses operating in this kind of market, Dianthus Business Park is hard to beat for location, whilst also offering first-class facilities.”
Dianthus Business Park has been through significant development and expansion since it was first built as a home for JZ Flowers in 2010.
Leeds leather exporter welcomes Government’s new online insurance portal
The MD of a Leeds-based leather supplier Yarwood Leather has welcomed a new online Government portal for companies applying for government-backed export insurance.
Yarwood Leather, which has been supplying the automotive, aviation, and marine industries for more than 50 years, has been one of the first to secure government insurance through the new portal, using the support to help it deliver major new contracts supplying material to furniture makers in Vietnam.
MD Kate Dixon of said: “Yarwood Leather have been in business and exporting for over 50 years. The support from UKEF has opened up new markets for us in territories which are not covered by our usual credit insurer.”
The government’s export credit agency UKEF has launched the new online portal for credit insurance applications, which means that for the first time businesses can apply for government export insurancewithout having to complete a PDF form, improving access to international trading opportunities.
Its said that the new portal significantly shortens the application process, making it easier for businesses to apply for and ultimately get the support they need to export.
UKEF’s export insurance product has protected hundreds of exporters from non-payment risk, giving them the confidence to deliver high-value export contracts. This is particularly valuable for SMEs, which may face greater challenges securing private-sector finance. Around 75% of UKEF’s insurance policies last year supported SMEs, mostly in manufacturing, construction and retail sectors.
Gareth Thomas, Minister for Exports, said: “Exporting can help businesses to grow more quickly and is a driver of UK economic growth. This is why the new government is asking UKEF to take action to make exporting easier and more accessible.
“This new online service makes it easier than ever before for SMEs to apply for export insurance, giving them the confidence to take on new contracts around the world.”
