Work resumes on new energy-efficient houses after contractor’s collapse
£50m worth of investment in Rotherham to move a step closer
Around £50 million worth of investment in Rotherham will move a step closer when Rotherham Council’s Cabinet meets on Monday 7 August.
Lincoln property developer wins new contract in Nuneaton
Funding support for SMEs in East Riding of Yorkshire
Training firm fuelled by investment from private equity house
Lincolnshire’s JDM Food Group merges with US firm
Firms staring closure in the face consider dipping into personal savings to keep going
About a quarter of small business owners in the UK believe that they will be forced to cease trading if the outlook for their business does not improve, with almost 1.5m SME owners considering using personal savings to prop up their business.
The SME Insights Report, published by small business insurance provider Simply Business, found that 48% of SME owners believe the rising cost of living is the most glaring challenge facing their business, with a further 63% saying that rising taxes, interest rates, and inflation are eating into profit margins.
The findings, collated using the responses of more than 1,000 small business owners, shows that small businesses are caught between a rock and a hard place – being forced to increase their prices at a time when many consumers are cutting down spending. Nearly half of the UK’s SMEs say that they intend to raise prices by up to 10%, with a further one in three (36%) increasing prices by up to 20%. The UK’s cost-of-living crisis has compelled businesses to constantly be looking for ways to stay afloat.
SME owners also cited rising energy costs and a lack of government support as the key challenges they are facing. Over a quarter of SMEs are now spending up to 40% more on energy each month compared to the previous year, with some reporting a 150% increase in their monthly energy expenses.
Jonathan Portes, Senior Fellow of the Economic and Social Research Council and Professor of Economics and Public Policy at King’s College London, said: “Two themes emerge from this report. First, the extent of the continued pressures on SMEs from the wider economic environment. While the energy price spike has abated, and labour shortages have eased somewhat, more generalised inflationary pressures mean that SMEs are being squeezed from both ends, with some input costs rising and consumer demand impacted as real incomes have fallen. Recent rises in interest rates will exacerbate both.
“Second, and more optimistically, the resilience of the sector despite all this; the vast majority of SMEs remain positive about their own prospects, not just for survival but for growth, and most also expect the economy to improve.”
Despite the challenging economic landscape, there remains a glimmer of optimism among the small business community. Over half of the surveyed businesses (54%) expressed confidence in the UK economy’s potential for improvement within the current year. Additionally, an impressive 77 percent of respondents expressed confidence in their own business prospects for the next six months.
Alan Thomas, UK CEO at Simply Business, said: “The stoic spirit of small business owners is the backbone of the UK economy – their resilience is vital to the nation’s recovery and growth. The fact that many SMEs across the UK are struggling so significantly is a serious cause for concern for the British economy and communities.
Government to pump almost £9m into training providers for ‘insulation school’
- retrofit assessor and retrofit coordinator: provision and delivery of training to PAS 2035 standards
- insulation: provision and delivery of training to National Occupation Standards or higher in the installation of domestic insulation measures
“Our members look forward to collaborating with all those working to develop green skills and make this competition a success.”
Extra Government millions could boost York’s economy by 20 per cent
City of York Council has reached a deal with government which could generate as much as £40m in additional funding to maximise the impact and benefits of York Central, the revitalisation of th4 45-hectare site alongside the railway station.
City centre living project supported by Hull City Council Cabinet
Hull City Council given authority to progress devolution plans
Dean Clough rides wave of interest with seven new independents moving in
Dean Clough in Halifax is to be the home of seven new independent operators together having taken almost 5,000 sq ft on the historic 22-acre site.
The former mill complex has been transformed as a place for work rest and play for about 3,000 people, and continues redevelopment to provide unique spaces.
K Jones Interiors has secured a new space within the recently renovated Bowling Mill Courtyard to provide residential and commercial interior design consultations. Session stylist Dawn Walsh has also taken space for a new hair salon, whilst beautician, Alina Balika has relocated her studio to be at Dean Clough.
Dot The Jewellers, which has been designing unique, custom jewellery for over 20 years has relocated to occupy one of the new retail units following recent redevelopment of the historic D Mill Courtyard.
Piece by Piece Physiotherapy has set up a clinic to offer expert help for back pain, osteoarthritis, sports injuries, concussions, and vertigo. This complements existing wellbeing services.
Northpark Pictures has also secured a lease for a new studio at Dean Clough. The multi award winning film production company produces video and content for brands including McDonalds, Virgin Atlantic, Enterprise and Oxo.
The Engine Room, a firm favourite café at Dean Clough for the last ten years, has secured a new lease on its 1,130 sq ft premises following new ownership.
Jeremy Hall, Chairman and MD at Dean Clough Ltd, said: “Independent businesses are the life blood of our high street, and we are always keen to offer flexible lease structures to support them. We warmly welcome them into the Dean Clough family which continues to provide choice, innovation, diversity, and authenticity for our audiences.
“We are progressing apace to expand the provision of high quality, Grade A workspaces for large and small businesses and we are unique in terms of the doorstep provision which includes considerable cultural experiences.”
Dean Clough is located on the edge of Halifax town centre, between Leeds and Manchester, and just 15 minutes from the M62 with direct train links to Leeds, Manchester, and London.
Lincolnshire horticultural experts secure multi-million-pound refinancing package
Farmers flock to Immingham to export UK grain surplus
Chiropractic clinic gets £40k loan from the British Business Bank
A chiropractic clinic in Leeds has been given a £40,000 loan to set up a standalone premises and buy equipment to offer patients a range of wellbeing services.
The Spine Guy, based in Moortown, Leeds, received the Start Up Loan from the British Business Bank, delivered through its dedicated fund manager, Business Enterprise Fund. The investment has helped launch the business into a physical practice after growing a following on Facebook during the pandemic.
Founded by husband and wife duo Jeff and Laura Ben Mayor, the clinic specialises in using chiropractic care and posture correction, as a regular, preventative wellbeing measure rather than just problem solving for pain.
Neither Jeff nor Laura were unable to work in their normal roles during lockdown, so to support people who were now spending more time at home, Jeff created a Facebook group to share tips on how to sit properly, how to set up a laptop ergonomically and effective exercises to improve posture.
He said: “Setting up the Facebook group demonstrated a gap in the market for educating people on the effects of bad posture on long term health conditions. Back pain is often the first thing that comes to mind but the spine is an integral part of the nervous system.
“More recently, I’d been keen to set up a solo practice and Laura was also looking for a career change. We spoke to Start Up West Yorkshire and were recommended the Business Enterprise Fund who have been fantastic. They clearly understood our vision and the entire process was straightforward, taking the stress out of launching a brand new business.”
Laura, co-director and practice manager at The Spine Guy, adds: “The Business Enterprise Fund has been a huge help in us getting started, with the loan helping on everything from signage to equipment and we’ve so appreciated their ongoing professional advice. We’ve seen a whole variety of patients so far from those taking charge of their preventative care or couples who want to look and feel good in their wedding photos.
“Before we launched, Jeff often commented that people will regularly go and get their eyes or teeth checked, yet they don’t think about arguably the most vital support structure in our bodies – the spine – until it’s already in pain. Regular checks can prevent a whole host of debilitating problems, and it’s been heartening to see our patients beginning to understand this.”
Tim Burt, senior investment manager at the Business Enterprise Fund, said: “The Spine Guy is exactly the type of business we’re looking for when it comes to the Start Up Loan Programme – they’re problem solving, committed to a vision and bringing a much-needed service to a local community.
“In the last few years especially, people have taken note of their health and preventative steps they can take to look after themselves. With the wellness industry increasing in the UK, focusing on both home and work life, we anticipate great continued success for Jeff and Laura.”
Hull care home appoints new manager
Hull’s Wilton House Care Home has appointed Joycelyn Tsekpo as its new manager, who brings to the role 15 years’ experience in the NHS and the social care sector.
During her career, Joycelyn, above, has progressed through various positions, including senior care assistant and deputy manager. Most recently, Joycelyn was the manager of Alderson House Care Home in Bridlington. With her extensive experience and expertise, Joycelyn complements the existing care team at Wilton Lodge and provision of high quality, person-centred care.
Terry Peel, CEO of HICA Group, which owns and manages Wilton Lodge, said: “We are thrilled to have Joycelyn join us as the new manager at Wilton Lodge.Her extensive background in the social care sector, combined with her passion for making a difference in people’s lives, makes her an invaluable addition to our team.
“With her leadership, we are confident that Wilton Lodge will continue to thrive and provide exceptional care to our residents.”
Wilton Lodge is a 48-bed care home providing specialist residential care services for older people and those living with dementia.
Joycelyn Tsekpo, who has lived in Hull for 20 years, said: “I chose to come to Wilton Lodge because of the genuine passion shown by the team and the organisation as a whole. HICA Group’s commitment to valuing people over profit aligns with my own beliefs, and I am eager to contribute to an organisation that strives to make a real difference in people’s lives.
“It’s not just a job here; it feels like working with family, and I am proud to be part of such a dedicated and talented team.”
Dudleys prepare to assess last two Sunny Bank buildings for redevelopment
Dudleys Consulting Engineers will assess the last two remaining buildings for redevelopment at the Sunny Bank Mills regeneration site in the Farsley area of Leeds.
The company will advise on the Structural and Civil design plans to support the redevelopment of the former 3,000 sq ft Dye House and the 2,500 sq ft Boiler House to enable refurbishment into modern, mixed-use accommodation.
Sunny Bank Mills is a collection of historic buildings, forming the community heart of Farsley town in Leeds. The site was founded in 1829 by a group of weavers to become one of the world’s most important fine worsted mills. Over the last ten years, considerable investment has been made by sixth generation family owners William and John Gaunt to regenerate the site to become a modern mixed-use complex and cultural hub where over 350 sustainable jobs have been created so far. As well as flexible space for businesses, it includes a heritage museum, art gallery and spaces for events and exhibitions. Sunny Bank Mills prominence as a cultural hub continues to grow further having featured in numerous film, TV and radio events.
Dudleys has been retained as consulting engineers for the duration of redevelopment spanning over ten years, during which time numerous buildings have been refurbished on the 4.5-hectare site.
Peter Dixon, Director at Dudleys, said: “The site is of considerable heritage value and so we must always seek to maximise the potential to retain as much of the old as well as incorporating the new.
“For all of the once-derelict and dilapidated buildings we have managed to safely retain the substantial core as well as the historic buildings’ fabric to preserve the industrial setting within more contemporary elements to deliver some characterful spaces that are now thriving.”
John Gaunt of Sunny Bank Mills, said: “The story of Sunny Bank Mills is of considerable note, not just for Leeds but for the UK as the world leader in textile manufacturing. Since the value of weaving was lost, we have worked tirelessly to sympathetically regenerate the site for modern day use and maintain its employment potential.”
“We have worked with Dudleys for the entire redevelopment process, and they have proved to be an invaluable partner throughout. We are delighted to appoint the team to advise us on the potential of our last remaining buildings.”
UKREiiF sees £12m boost for Leeds economy
And the winner goes to… Charlotte Burns, OceanBlue Logistics: Everywoman Awards 2023
£185m Leeds Urban Village takes step forward
