2024 Business Predictions: Konrad Czajka, Managing Director, Czajka Care Group

It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.  It has become something of a tradition, given that we’ve been doing this now for over 30 years. Here we speak to Czajka Care Group’s Managing Director, Konrad Czajka. We all know that sometime in 2024, and possibly as early as the Spring of 2024, there will be a general election. Both major political parties are talking about cutting immigration numbers, which is causing concern amongst those in the care sector. Caps on care worker numbers, and a restriction on their dependents being allowed to come to the country too, or an increase in minimum salary threshold will have a major impact on the people who rely on these services. A reduction in the number of job vacancies in the care sector over the last year has been a result of foreign workers coming into this country, as opposed to the domestic workforce growing. The plans to overhaul the adult social care system are stalling, and survival without fundamental changes will be dependent on pockets of funding to help plug the gaps. In 2024 central government investment is critical, alongside a long term workforce plan akin to that of the NHS, to ensure social care is a desirable sector to join and remain a part of. The rise in the national living wage announced a day before the Autumn statement is welcomed by the social care sector but should be matched by more generous funding for local authorities, who can pass that money onto the providers they commission care from. If this does not happen then we will see providers who are currently on the brink, pushed over the edge by the increased cost. That will mean a further loss of care provision at a time when we need it most. In 2024 we expect to see greater collaboration and communication between health and social care professionals. This will lead to more effective care planning, improved information sharing, and better outcomes for the individual. There will be a continued demand for social care services with an ageing population and increasing prevalence of chronic diseases. We will continue working hard to improve health outcomes, enhance the user experience, and reduce healthcare costs.

Sills & Betteridge gain new ground in top 200 law firms table

With a 27 place climb since they first entered The Lawyer publication’s prestigious UK200 rankings in 2019, Sills & Betteridge LLP are now in position 160 – with growth of 15% on the previous year placing the firm in the top 10 best performing firms in the country. The report is seen as the benchmark for anyone with a serious interest in the business of law. It comprises months of detailed, impartial research into the firm’s financial performance, characteristics of its service delivery and analysis of its people – looking forensically at diversity, progression and development. Chief Executive Martyn Hall said: “A combination of factors has led to these results, but they are principally due to organic growth, our acquisition of niche matrimonial practice Acclaimed Family Law of Sheffield, the recruitment of several senior fee earners across the firm and continuous efficiency initiatives across our working practices and operations.” But it’s not just about financial performance, the firm is also recognised in the gender analysis section of the report with another top 10 position for a notable number of female partners (60%) and female lawyers (64%) working across the firm. Karen Bower-Brown now goes into her 3rd year as Senior Partner – the first female Senior Partner in the firm’s 265 year history. Other highlights for Sills & Betteridge in 2023 included the Legal 500 Legal Directory results which saw the firm retain two prized accolades – Leading Law Firm and Top Tier Family Law Team, with a record 10 teams making the list and 30 individual lawyers. The firm also won the Solicitor Firm of the Year at the British Wills & Probate Awards and Children Team of the Year at the national Family Law Awards. Plans for 2024 include the relocation of the firm’s Sleaford, Sheffield and Northampton operations, significant refurbishment of its Boston premises and continued investment in its people and delivery of excellent service.

Lincoln-based finance company appoints three new employees

Lincoln-based Almond Finance has made three appointments on the back of its growth of more than 50% over the last there years.

Two additional Paraplanners and a Mortgage Protection Consultant have joined the team as part of a recruitment drive for the business.

Joshua Davis, 22, joins the business as a Paraplanner, having graduated with a first-class degree in Banking & Finance from the University of Lincoln.

Ryan Sharpe, 35, also joins Almond Financial as a Level 4 Qualified Paraplanner having previously had a career as a research scientist with a PhD in Chemistry. Ryan joins the firm as he looks to redirect his career in financial services.

Joe Fleet-Chapman has joined as Mortgage Protection Consultant. With previous experience in Mortgages and Protection, Joe, 27, specialises in securing property finance.

Sam Robinson, Principal Financial Advisor, said: “It’s great to welcome new talent and fresh, relevant knowledge to the team with our Paraplanners, Joshua and Ryan. We’re also pleased to welcome our new Mortgage Protection Consultant, Joe, coming from his already experienced background in mortgages.

“We’re excited to be working with a growing number of clients nationwide every day. As a company, we look to make financial help accessible to everyone, which is why we’ve made this a priority as we’ve grown through acquiring business outside our previous scope and employing as needed.

“With around 50% of advisors expected to retire over the next 5 years, Almond Financial is well-positioned with a young but experienced team to acquire new business following the transition of market assets.”

Yorkshire Water starts £2m Thorne improvement scheme today

Yorkshire Water is investing £2m to replace almost three kilometres of pipes in Thorne and will start the work today. The company is working with contract partners United Living and Geraghty’s who will be carrying out this work, as the pipework in the area is old and prone to bursting, so the investment into the new pipework will reduce the risk of this happening in future. One main pipe will also be upsized, to relieve pressure issues and ensure the network can cope with any future infrastructure in the area. The first phase of the ten-month project  is set to start on Plantation Road from Monday 15 January, and the second phase on Fair Tree Walk will commence from 12 February. Traffic management and road closures will be in place throughout the duration of the scheme. Steph Horgan, project manager for the scheme at Yorkshire Water said: “This is a fantastic upgrade to the water system in Thorne and I know it will come as welcome news to our customers in the area. “We’ve worked closely with Doncaster Council and our contract partners to ensure that the work will be carried out in phases to complete the project with as little disruption as possible to our customers, and we thank you in advance for your patience during this time. “This work will ensure that our customers will benefit from a more resilient network and allow us to continue providing the high standard of drinking water our customers are used to.”

Parliament hears from Humber region about tech potential in our region

some of the Future Humber and Bondholders team headed to London to support the launch of UK Tech Cluster Group’s report into ‘Four Big Ideas’ for regional tech in Parliament.

Along with representatives from C4DI and other organisations around the Humber, we attended the launch in Parliament of UKTCG’s latest report ‘Ecosystems of Innovation’, looking at grassroots activity in the regions and how potential can be harnessed for growth. UK Tech Cluster Group (UKTCG) members work with tech businesses of all sizes, across all tiers of government and with partners in other key sectors driving our economies. The report outlines ‘Four Big Ideas’ to transform our economy:
  • A globally competitive tech talent pipeline in every region
  • Driving digital innovation at the foundations
  • A UK innovation policy which gives every place a chance
  • Mobilising ecosystems to help businesses to start and grow
The reception was hosted by Alex Davies-Jones, Shadow Minister for the Home Office and Former Shadow Minister for Tech and the Digital Economy. Katie Gallagher, Chair of UKTCG gave an overview of the report and C4DI’s MD John Connolly helped present part of the report. Saqib Bhatti MP, Minister for Tech and the Digital Economy, and Matt Rodda MP, Shadow Minister for AI & Intellectual Property, shared their insights with us. 

Recruitment remains a headache for many firms, says BCC

The labour market remains tight for most firms according to the latest Quarterly Recruitment Outlook survey of almost 5,000 UK firms by the British Chambers of Commerce Insights Unit. Jane Gratton, Deputy Director Public Policy at the BCC said: “The recruitment crisis continues to loom large for many businesses across the UK. “Too many firms are still struggling to hire and retain staff. The situation in the hospitality sector is especially concerning.  At the start of an election year, and with a budget just weeks away, it’s vital that politicians start outlining how we can plug these gaps and support more people into work. “The Chancellor announced several welcome measures on apprenticeships in the Autumn Statement, but more action is needed.  For example, increasing flexibility in the apprenticeship levy would help more people get the workplace training they need. “And we need to ensure that local training provision meets the needs of employers and learners. Local Skills Improvement Plans (LSIPs), many of them led by local Chambers, are now shifting the dial on this by planning for skills needs, now and in the years ahead. But this transformation won’t happen overnight, and LSIPs need long-term funding and commitment from politicians. “We’ll be looking closely at tomorrow’s labour market statistics from the ONS. While the number of vacancies has continued to decline in recent months, the prospects going forward remain challenging. Our latest Quarterly Economic Forecast predicts unemployment is expected to stay higher for longer, hitting 4.8% by the end of 2025 “Businesses urgently need to see a long-term strategy on skills and training from politicians. We need to properly resolve the ongoing recruitment crisis and ultimately boost economic growth.” Fourth quarter results for 2023 show a slight rise in the number of companies facing hiring difficulties, from 73% in Q3 to 76% in Q4. That’s six percent down from the historical high of 82% at the end of 2022, but has remained at or above 70% since the economy reopened  after the pandemic. Attempted recruitment in Q4 was virtually unchanged from the previous quarter, with 59% of responding firms looking to find staff (61% in Q3). The hospitality sector continues to suffer disproportionately from the recruitment difficulties in the economy, with 82% of firms reporting hiring challenges in Q4 (compared with 79% in Q3). This is closely followed by the transport and logistics sector where 81% of businesses attempting to recruit, reported difficulties in finding staff. Meanwhile 79% of construction firms, 77% of manufacturing companies and 66% of retailers, said they had experienced recruitment issues. Of the hospitality firms reporting problems, 62% faced difficulties in finding semi/unskilled workers, 41% skilled manual/technical staff. As firms continue to navigate a series of economic pressures, many are struggling to increase investment in workplace training. For the second quarter in succession, just over a quarter of firms reported an increase in investment plans for staff training (26% compared to 27% in Q3) with 14% reporting a drop (13% in Q3) Labour costs are cited by most firms as a source of cost pressure, with 68% citing this (compared to 66% in Q3). 55% of firms say they’re concerned about energy costs.  

Lincoln’s commercial freehold market is holding its own, say Addison’s

The commercial freehold market in Lincoln is holding its own due to the resilience of local SMEs and a limited supply of available stock, according to Eddisons incorporating Banks Long & Co whose industrial agency has just confirmed that a manufacturer, supplier & retailer of e-liquid vaping products has acquired Jarvis House, Sadler Way, Lincoln.
The 22,905 sq ft Jarvis House workshop with offices, on a 3.75 acre site, was offered either to let or for freehold sale through Eddisons. William Wall, Director, Eddisons, was the lead agent in the sale of Jarvis House on behalf of his client. Announcing the completion of the sale, he said, “There is a squeezed supply of freeholds in this part of the East Midlands. “This means that our clients can remain confident in achieving local agents’ quoting prices where the acquiring business is as robust and focused as the new occupier of Jarvis House.”

Electric bus depot development starts in Rawmarsh

Work has started at a depot to bring the first fleet of zero emission electric buses to South Yorkshire as part of a partnership between Stagecoach and SYMCA. Electrification work costing about £2.5m has begun at the Rawmarsh depot ahead of the arrival of the first fleet of 23 zero emission electric buses to arrive in the region. The brand-new electric Yutong buses will be introduced on the region’s bus network in the spring and will feature on the 22x and 221 routes which connect the Dearne Valley across Rotherham, Barnsley and Doncaster. Stagecoach Yorkshire MD Matt Kitchin said: “This development marks a huge step towards the future of sustainable travel in South Yorkshire as we await the arrival of the new buses. “Sustainable forms of public transport are key to reducing congestion and improving air quality across the region and we look forward to these state-of-the-art vehicles encouraging more people to make the switch to bus travel as well as making local air cleaner for all our futures.” DfT contributed about £8,351,000 to which SYMCA added £2,683,000 of its City Region Sustainable Transport Settlement. Contractor EO will install the 23 output chargers as well as two mobile workshop chargers at the depot which will facilitate the running of the zero-emission fleet. South Yorkshire’s Mayor Oliver Coppard, said: “We think around 200,000 people in South Yorkshire live in areas vulnerable to air pollution, and 1 in 20 deaths here are related to poor air quality. That’s a challenge we simply have to address, and why we need to get cleaner, greener vehicles of all sorts on our roads. “To meet that goal we’ve funded electric bus projects that are underway across the region as part of the Zebra1 project and we also have a second bid for ‘Zebra 2’ funding submitted to the Department for Transport with Stagecoach and First. “Not only will they help improve public transport in South Yorkshire, they’ll make a real contribution to us hitting our net zero goals, and making South Yorkshire’s air cleaner.“

Trading Standards launch new ‘trusted traders’ scheme throughout Lincolnshire

Trading Standards services across Lincolnshire have joined a national scheme that allows residents to know they’re buying from businesses that work in a legal, honest and fair way.

Businesses who sign up to the scheme will be vetted by Lincolnshire Trading Standards – working in conjunction with North and North East Lincolnshire councils – and then added to an online Buy with Confidence database. Consumers can then search that database and have the added piece of mind that each business has been thoroughly vetted and approved by Trading Standards. To receive accreditation, businesses go through a strict procedure of researching their trading history, financial background and a criminal records check. Buy With Confidence first launched nationally in 2008 and is the largest scheme of its kind, supported by 67 local authority Trading Standards services around the country. The scheme is open to businesses operating in most sectors, not just the building and motor trades. Cllr Daniel McNally, executive councillor for Trading Standards at Lincolnshire County Council, said: “Buy With Confidence helps give the public the reassurance that any business on our list is only there because it deserves to be. By becoming members, businesses can help us steer people away from the rogues and fraudsters that give legitimate businesses a bad name, and towards good, honest, reliable traders. “Being Trading Standards approved sets businesses apart from their competitors, and reassures their customers that they’re operating in a legally safe and honest way. Each approved trader gets a public profile on the database, can use the ‘Trading Standards approved logo’, and will get ongoing advice from Trading Standards to help them stay compliant with any new or changing legislation. “During these challenging financial times, we all want to make sure every penny is spent wisely. By choosing to shop with ‘Buy With Confidence’ approved businesses, you know you’re getting what you pay for.” Cllr Carl Sherwood, cabinet member with the responsibility for public protection at North Lincolnshire Council, said: “It is so important that customers can find reliable businesses, which is why we have teamed up with Lincolnshire Trading Standards to provide that extra level of reassurance. “Buy With Confidence allows people to know they are buying from reputable businesses that have undergone stringent checks. Next time you are looking to buy from a business, make sure you check the Buy With Confidence database. “Any businesses that aren’t part of the scheme, I would urge you to look into this.”

Doncaster Chamber stages its first-ever Women in Business Conference

Doncaster’s first-ever Women in Business Conference will shine a light on female entrepreneurs and explore the challenges many of them face. Jade Dyer, Business Director at Doncaster Chamber said the event would allow examination of serious issues that didn’t always get the attention they deserved. “It’s a particularly relevant conversation for us in Doncaster, where females are underrepresented in terms of entrepreneurship. Data from the Office of National Statistics shows that only 2.5% of women in our local population are self-employed, a relatively low figure when compared to other places around the UK, while a comprehensive study from Money.co.uk found that we are also one of the country’s most challenging districts for female business owners. “Despite this, we have assembled a fantastic line-up of speakers for the conference — spanning different backgrounds and sectors —who we believe will really inspire the community. For example, we have Rebecca Dickenson; an internationally-acclaimed hairdresser who recently won our Self-Employed Person of the Year award and who is, with good reason, recognised as a true leader in her field. “She will be joined on the day by other amazing guests, including: Leana Coopoosamy-Pearson, Global Inclusion Business Partner at Mastercard and owner of her own Boutique; Julie Carrier, Chief Commercial Officer at Unipart Rail; Zoe Hands, MD in the region for First Bus Midlands; and Amelia Banful, Head of Business Strategy at Enviro Electronics. We cannot wait to hear from all of these professionals, and from those who attend on the day itself, about how we can make Doncaster a more friendly environment for women in business.” The event is sponsored by Polypipe Building Products, and takes place on January 24th.

HMRC app gathered more than a million hits a month last year

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More than a million people a month have tapped into the HMRC app to find their employment history and National Insurance number to pass on to a new employer. The app was opened more than a 80 million times in 2023, but HMRC still receives around three million calls a year, with people waiting on hold for information they could quickly access digitally at a time and place to suit them. During January, when HMRC’s helpline experiences a surge in enquiries about employment history, HMRC is encouraging customers to download the free and easy to use HMRC app instead, which provides secure access to personal tax affairs, saving an unnecessary phone call and a potential long wait listening to hold music. Nigel Huddleston MP, Financial Secretary to the Treasury, said: “When people apply for a job the last thing they want to be doing is wasting time on the phone to HMRC to find their National Insurance number or tax code, which is why I encourage jobseekers to save themselves effort in the future and join 1.2 million monthly users and start using HMRC’s fantastic app. Myrtle Lloyd, HMRC’s Director General of Customer Services, added: “With the new year bringing new opportunities and career aspirations for many, our app is a great way to securely access your tax code, National Insurance number, and employment details – information a new employer may ask for. A few taps will save you a call and the information is accessible at any time. “App users will need to create an account or sign in if they already have one to access their personal information. If you need to set up an account, the app will guide you through the process.”

Collaboration to develop new products with NHS healthcare waste

Leeds Beckett University and Q Medical Technologies Limited have secured Government funding to develop and commercialise innovative new products repurposing healthcare waste. The team will begin by commercialising new, low-carbon aggregate substitutes known as floc – repurposed and treated, clinical and offensive NHS waste – which are in demand for use in civil engineering. Dr Ash Ahmed, Reader in Civil Engineering Materials Science in the School of Built Environment, Engineering and Computing at Leeds Beckett University, is leading the project. He explained: “This innovative opportunity to process and utilise healthcare waste – particularly NHS waste – to create new products, has multiple benefits: reducing costs to the healthcare sector, reducing the emissions from the disposal of healthcare waste, and reducing the drain on dwindling natural resources such as sand. “Sand suitable for construction is a finite resource and there is pressure to create more sustainable supply chains to preserve this valuable commodity for future generations. “The NHS produces an estimated 156,000 tonnes of clinical waste per year with disposal costs of around £700million per year – largely through waste management contracts that end in incineration or landfill, both of which are harmful to the environment.” The 30-month project is a Knowledge Transfer Partnership (KTP), part-funded by the Government through Innovate UK. The KTP aims to create long-term innovation and New Product Development (NPD) capabilities and pathways for NuGreen – a sister company of Q Medical – to develop, test, commercialise and launch products in new sectors. The project will refine and commercialise earlier proof of concept studies between Leeds Beckett and NuGreen in the use of floc as an aggregate – most notably sand – replacement in cementitious materials, for example concrete and asphalt. The market for aggregate replacements is very large. The worldwide construction industry consumes 25-30 billion tonnes of sand per year and the cost of aggregates is increasing. Clare Atkinson, Founder of NuGreen, said: “The opportunity to divert high volumes of healthcare waste from incineration and transform it into a valuable, low carbon construction material – that replaces the use of a finite resource such as sand – is the future we see. “Healthcare waste incineration contributes to poor air quality, increasing the strain on NHS resources by impacting respiratory health – this is a cycle we want to break. The opportunity for healthcare to be at the forefront of a lower carbon future is vital to drive the global shift required for true connectivity, progress, and sustainability.” Use of healthcare waste is challenging from a regulatory perspective and tightly controlled by the Environment Agency. Construction materials are also highly regulated and rigorous testing and compliance for the floc will be required to meet British standards for commercial use. By the end of the project, NuGreen will have taken healthcare waste through a product development lifecycle, resulting in a commercially viable product to take to market as an aggregate substitute. The Leeds Beckett team will support NuGreen to develop and commercialise further products using other forms of healthcare waste, such as silicone, during and beyond the completion of the KTP. A skilled graduate will be recruited, as a full-time member of the NuGreen team and with the full support of the Leeds Beckett academic team, to manage the project as a KTP Associate. Dr Sepehr Ghaffari, Senior Lecturer in Engineering, and Killian Ngong, Senior Lecturer and Chartered Civil Engineer, will lead the asphalt concrete investigations. Dr Alfred Chinta – an expert in supply chain management with a focus on technology and sustainability – will lead on the strategic support, embedding the innovation and product development systems into the business. Professor Silke Machold, Pro Vice Chancellor for Research and Innovation at Leeds Beckett University, said: “There is a very high level of innovation attached to this project that addresses the UK’s Net Zero ambitions. It offers the potential for an agile solution to the healthcare sector – particularly the NHS – to manage and reduce their carbon footprint. “At Leeds Beckett University, our School of Built Environment, Engineering and Computing is an international leader in sustainability research. This includes research on retrofitting and net zero technologies in buildings conducted by our Leeds Sustainability Institute.”

£1.136m makeover of Pontefract market complete

Visitors to Pontefract will see a new look to the market the next time they drop in, as work to refurbish and modernise it has now finished. Wakefield Council has spent £1.136 million in making improvements to Pontefract market which last year attracted a million visitors. It’s the latest to benefit from the council’s investment of almost £6.5 million to improve the district’s markets. Funding was approved in 2020 for four markets to be renovated as part of the markets improvement programme.

Cllr Michael Graham, Cabinet Member for Regeneration and Economic Growth, said: “It’s brilliant to see the market hall and the incredible work that has gone into transforming it, to give traders and shoppers the best facilities.

“We took the decision to invest in its future because an independent review we commissioned in 2018 found that, with some changes, the market could continue to be sustainable. “Markets play a significant role in bringing shoppers to the town centres and they contribute to our aim of growing the local economy and providing employment opportunities to residents.” Pontefract market has been renovated both inside and outside with new flooring, wiring, lighting, ceilings, and shutters. Repairs have been made to the roof to make it waterproof. The walls, ceilings and frames have also been redecorated to give the market a fresh look. Outside, feature lighting has also been installed to highlight the Grade II listed market facade, that was designed by Joseph Wilson and opened in 1860 by former Prime Minister, Lord Palmerston. Local ward councillors have also funded repairs to the traditional red telephones boxes. Pontefract is the second of the four markets to be completed. Work on Normanton finished in May. Of the remaining two, Castleford will complete in Spring 2024 and work on South Elmsall will start around this time.

New ownership for metals and minerals supplier

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South Yorkshire-based company, Westbrook Holdings, which trades as Westbrook Resources from its HQ in Dronfield, has been sold by its shareholders to an Employee Ownership Trust. HSBC provided funding for the transaction, which was advised on by Sheffield-based dealmaking firm, Castle Square Corporate Finance, and the Sheffield office of national law firm, Freeths. With an annual turnover of $85 million in its last reported annual accounts, Westbrook is a leading supplier of metals, minerals, and ferro alloys to the global iron and steel industry. As a key part of the global supply chain, Westbrook sources, stocks, and supplies materials across all major continents, dealing with over 60 different metals and minerals in more than 40 countries. Director Kevan Shaw and Joe Potts from the Castle Square team provided advice on transaction value and the fundraising process, with HSBC bank providing the necessary funding. Kevan said “Having first advised Westbrook on a refinancing over a decade ago, we are delighted to have now advised on a deal which gives the shareholders a successful exit.” Following the completion of the sale, Shaun Walton will remain as Chief Executive, and Nick Jones will continue as Managing Director. The rest of the senior management team will also stay in place, working with them to take the company forward and oversee its continued growth. Shaun said: “Our thanks go to Castle Square, Freeths, and HSBC for their pivotal roles in enabling this EOT to happen. Now, those contributing ideas, hard work and professionalism will directly benefit from Westbrook’s success. The sky is the limit.” Legal and tax advice were provided by Lisa Wallis, Rosanna Brown, and Alex Angelides from the Sheffield office of law firm Freeths. Lisa said: “It was a pleasure to work with Westbrook and Castle Square on this transaction, securing an exit for the shareholders and allowing the Employee Ownership Trust to continue developing the business going forward, for the benefit of the employees.” Richard Baggaley from the HSBC Corporate Team was instrumental in delivering the funding on behalf of the bank.

2024 Business Predictions: Luke Gidney, Managing Director at HOP

It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.  It has become something of a tradition, given that we’ve been doing this now for over 30 years. Here we speak to Luke Gidney, Managing Director at estate agent HOP. The rentals market in Leeds has been very busy in the last 12 months and rents in many areas increased by between 10% and 12% in 2023. We now typically receive between 25 and 30 enquiries for every property we list and will pre-qualify around 10 people for a viewing. Of these we usually expect three to apply, so it’s a very competitive market for tenants. Generally, property stock levels do increase slightly in December and January as people usually try to avoid moving during the Christmas period. This is a trend that we are seeing this year as normal, so any tenants looking for a home might have a slightly better chance if they act now. Looking ahead to 2024, the shortage of available rental property looks set to be an ongoing theme. Substantial tax increases and higher interest rates combined with some laborious legislation mean many landlords continue to sell up. As a result, we expect rents to rise further, although possibly at a slightly slower pace than in 2023, but growth of between 8% and 10% would come as no surprise. However, the reality is that many tenants are already over-stretched financially, and lots are already facing a tough time due to sky high energy bills and food inflation. There has been an increase in the number of tenants falling into rental arrears in 2023 and this is likely to remain an issue in 2024. This is also driving the popularity of rent guarantee insurance, often known as tenant default insurance, amongst landlords, which typically costs around £250 a year and gives landlords peace of mind that they are protected from financial losses incurred by tenants failing to pay their rent. Ultimately, the market needs more rental property and although landlords are selling up in droves, there are others who are recognising the opportunities that the current market offers. This is particularly true for seasoned investors. Our specialist investment division agreed approximately £5million worth of off-market investment sales in 2023. How this pans out in 2024 will depend on what interest rates do. However, there’s no doubt Leeds is still very attractive to investors and especially because it offers an excellent average rental yield of 6.3%, which means you can get even higher yields in certain pockets of the city. In some areas of Leeds, you can find two-bedroom houses at £130,000 and three-bedroom homes around £180,000, so it still offers great value for money. These would rent for £850 and £975 respectively. Plus, there’s the potential for capital growth over the medium to long term. Leeds sits comfortably in the top 10 table for the best UK cities to invest in property, and there is an abundance of reasons why. The city brings together several compelling factors – a growing younger population, thriving economy, great value investment and high yields, making it a savvy choice for investors on the hunt for decent returns. Research by JLL shows that Leeds is consistently one of the top five cities in the UK for capital growth and our own five-year prediction suggests house price growth of 14% for Leeds between 2023 and 2027. With a skilled workforce of 1.4 million people, Leeds is fast becoming a leading business hub in the UK, hosting big companies including newcomers Channel 4, BT, Sky, First Direct and Asda. The city has also been named the “Digital Capital of the North” with one of the fastest-growing tech hubs in the UK. With continued investment being pumped into the city with the likes of the exciting new South Bank region and TransPennine Routes upgrades being approved, Leeds isn’t putting the brakes on anytime soon.

Catterick’s multi-million pound re-development gets green light from planners

The multi-million pound re-development of Catterick Garrison’s town centre has secured planning approval in a move aimed at bringing jobs and vital new facilities for communities as well as military personnel on one of England’s largest Army bases. Permission to build a new community and enterprise building and a multi-use events space as well as create a new public square has been given by members of the Richmond (Yorks) Area Constituency Planning Committee. Plans also include landscaping improvements, upgrades to Coronation Park and Shute Road, improved play spaces, accessible routes to the town centre and improvements to footpaths and cycleways. Planning Committee chairman David Webster said: “This scheme will see significant improvements to the centre of Catterick Garrison as well as contribute to our work to reduce carbon emissions through the use of sustainable design and renewable energy.” The community building will house offices for small businesses and include space for community groups and food retail. Improvements to the park will include new play areas for all ages from toddlers and woodland play areas to a skatepark for older users. Member for the Colburn and Hipswell ward, Cllr Kevin Foster, said: “This scheme has taken a major step forward today and means we can start to realise our ambition to complete by summer next year. The development is also in line with our priority of achieving net zero carbon emissions with its use of heat pumps and solar panels. “It will bring new opportunities and facilities for the many people who live at Catterick Garrison – both civilians and members of the military.”

Council pushes back against erection of increasing numbers of broadband poles

East Riding of Yorkshire Council is to urge Ofcom to launch an emergency market review and pause the erection of more broadband poles in the Hull Telecoms Area. Reacting to residents’ concerns, councillors feel that waiting until the next scheduled review in 2026 is too long to wait. The council has limited powers to control the erection of more masts, since they don’t ned planning permission. Coun Coleen Gill said the review was necessary because more telegraph poles were being installed in areas across the Hull Telecoms Area, already served by an existing gigabit capable duct and pole Network. She wanted Ofcom to consider: 1. Imposing a duty on telecoms companies to demonstrate reasonable efforts have been made to reach an agreement with existing providers for access to infrastructure. 2. Compelling existing providers to publish pricing for access to its infrastructure. 3. In the event that no agreement is reached, oblige companies to pursue a formal dispute via Ofcom, prior to installing further infrastructure of their own. 4. And to reiterate, stop any such installations until a Market review has been concluded.  

UK economy shows growth but precarious position remains

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The UK economy grew in November, with GDP* (gross domestic product) seeing a 0.3% rise, stronger than the 0.2% month-on-month growth expected and following a 0.3% fall in October. However, GDP was down 0.2% over the three months to the end of November, keeping the economy in a precarious position. Monthly growth reflected strong performance in services, particularly in information and communication which grew 1.5% thanks the computer games industry and telecommunications. Services output grew 0.4% month-on-month, following a 0.1% dip, while in another positive swing production output grew 0.3% month-on-month, following a fall of 1.3% in October. Meanwhile the construction sector fell 0.2% month-on-month, after a fall of 0.4% in October 2023. James Smith, research director at the Resolution Foundation, said: “The economy grew more strongly than expected between October and November, driven by a recovery in our services sector including strong black Friday retail sales and a high performing ICT sector, making it less likely Britain will fall into recession. “The final verdict on 2023 will come next month, but it is essential that Britain builds some economic momentum in 2024.” Ben Jones, CBI lead economist, said: “It’s encouraging to see that economic activity rebounded in November after the previous monthly fall. But while this means the UK should avoid a technical recession last year, it masks an overall picture of a flatlining economy. “The CBI’s latest surveys suggest the economy will struggle to gain any traction in the near term, as consumers rein in spending and firms face a trio of headwinds in the form of subdued demand, cost pressures and ongoing difficulties finding the staff they need. “With an election fast approaching, all parties need to look at measures which can get the economy firing on all cylinders. Full capital expensing was an exciting first step in this direction, but the Spring Budget is a chance to press ahead with a wider programme of measures around innovation, skills and decarbonisation that provide the foundations for sustainable economic growth and kick-start productivity.”   *GDP measures the value of goods and services produced in the UK. It estimates the size of and growth in the economy.

British Steel turns to biomass experiment for sustainable fuel

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A university research study supported by British Steel is investigating the production of an environmentally friendly green fuel.

The research will investigate whether the fuel, known as biochar, can replace injection coal in blast furnaces and act as a future clean carbon source for electric arc furnace steel production.

Peatlands are some of the most fertile lands in the UK for food growth, but decay of the peat soil emits large quantities of carbon dioxide. Alternatively, farming the land as sustainable wetlands, growing willow for biomass, prevents degradation of the peat.

Subjecting the willow crop to a thermochemical treatment called pyrolysis would be used to provide heat to enhance indoor farming productivity and produce biochar – a man-made charcoal. This biochar might then be used as a coal replacement, reducing the requirements for fossil fuels and reducing the net emissions that contribute to global warming.

Academics from the University of Lincoln have secured funding from the Industrial Decarbonisation Research and Innovation Centre for the project, and are working with farming estate and biochar supplier Lapwing Energy, CATCH – a champion for clean industrial growth – and British Steel.

As a partner in the project, the steelmaker is helping to steer the study and give a technical view on requirements to determine if biochar could replace injection coal and act as a future clean carbon source for electric arc furnace steel production.

Dr Andy Trowsdale, our Head of Research and Development, said: “By partnering with suitable suppliers, it is possible to provide sustainable feedstock materials and at the same time support land use projects that provide environmental benefits that far exceed those related to the fuel.

“A tonne of sustainable bio-carbon optimised for our steelmaking needs will reduce our net CO₂ emissions by three tonnes. But if the requirement for this material can prevent the degradation of peat re-wetting the land, then the CO₂ benefit can be nearly 10 times this amount. Combined with off-setting benefits from not extracting coal and each tonne of bio-carbon from this project has the potential to reduce UK net CO₂ emissions by nearly 30 tonnes.”

The project is funded by the UK Government as part of the Direct Air Capture and Greenhouse Gas Removal programme. The UK aims to reduce industrial emissions to net zero by 2050 and research projects that have received funding each support that ambition.

Building society highlights how to get extra income without working any harder…

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Millions of people could be missing out on almost £1,000 extra income a year because their savings are in low- or no-interest paying current accounts, analysis from Yorkshire Building Society and CACI suggests.

There are nearly 13 million current accounts held in the UK with balances above £5001, and of those people who hold at least £5,001 in their current account, the average balance held is £24,500.

Almost £400bn is being held in current and savings accounts earning 1% interest or less, but people’s lack of understanding of the impact of their savings habits means millions are losing out on potentially thousands of pounds in interest.

Research also completed by Yorkshire Building Society suggests that over half of savers haven’t compared the interest paid on their accounts in the last year, and over a third  hold most of their savings in a current account, offering little or no interest.

Chris Irwin, director of savings at Yorkshire Building Society, said: “Despite savings interest rates getting a lot of attention over the last year, following the significant increases in the Bank Rate, it’s surprising that there are still large pockets of people who are significantly missing out on savings interest – shopping around can now make a substantial difference to the returns available.

“Keeping large amounts of funds in low paying current accounts has become a costly mistake for millions. It’s understandable to want to have money accessible for emergencies or even topping up everyday expenses, but with so many instant access savings accounts currently available in the market paying a much higher return, there has never been a better time to review the home of your savings.

“Reviewing finances and savings can sometimes be an afterthought, with other things in life taking priority, however the start of a new year provides the perfect opportunity to take a close look at your finances and increase awareness of your situation and from there look at how you could make small changes which add up to much bigger returns.

“It doesn’t matter how you choose to go about it, but making just one positive change to your finances, could make a big difference in the long-term.”