Yorkshire business confidence sees slight September drop
Business confidence in Yorkshire and the Humber fell one point during September to 40%, according to the latest Business Barometer from Lloyds Bank Commercial Banking.
Companies in Yorkshire and the Humber reported lower confidence in their own business prospects month-on-month, down four points at 35%. This was somewhat offset by increased optimism in the economy generally, which climbed three points to 45% – but this still gives a decreased headline confidence reading of 40% (vs. 41% in August).
Just a net balance of 30% of businesses in the region expect to increase staff levels over the next year, down nine points on last month.
Looking ahead to the next six months, Yorkshire and the Humber businesses identified their top target areas for growth as introducing new technology (43%), evolving their offering by introducing new products or services (39%) and investing in their team, for example, by investing in training and development (35%).
The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.
Overall UK business confidence in September dipped slightly, to 47%, down from August’s 50%.
Though there was a marginal increase in their own trading prospects (up two points month-on-month to 54%), firms’ confidence in the overall economy dropped nine points to 38%.
The joint-most confident regions in the UK were the West Midlands and London, both reporting overall confidence of 59%. Only Northern Ireland, Wales, London, the South West and North West reported an increase in overall confidence.
Sector insights
Projections for output were mixed across the sectors, with some showing significant changes from previous results. In construction, the sharp increase last month was largely counteracted by a drop in expectations in September, falling by 12 points to 46%.
Similarly, in manufacturing, trading prospects fell for a second month to 53%, although this figure is still stronger than the year-on-year figure. However, the falls in manufacturing & construction sectors were more than offset by a small rise in retail and a bigger rise in the dominant service sector.
Martyn Kendrick, regional director for Yorkshire and the Humber at Lloyds Bank Commercial Banking, said: “It’s discouraging to see confidence falter among Yorkshire firms, especially after the optimism of August.
“However, businesses are set to benefit from the ample investment opportunities available in the area. Sustainability firms are particularly well placed for growth, with a new report by Green Economy finding that companies focused on decarbonisation are set to grow by 37% by 2026.
“As always, we’re also on the ground in Yorkshire, understanding the needs of businesses’ leaders and providing the support they need to keep growing.”
Alison takes on Head of Marketing role at Forrester Boyd
Alison Mitchell has been appointed Head of Marketing at accountancy practice Forrester Boyd after six years with the firm.
As marketing manager she helped to develop and grow the marketing function internally, but also met clients to discuss their marketing strategies and areas for improvement.
Phil George, Partner and Business Development Partner at Forrester Boyd, expressed his enthusiasm for Alison’s appointment: “We wanted Alison’s title to be reflective of the level of service that she delivers not only to the partners and the firm, but also externally to our existing clients and to other non-client firms.
“Alison, a chartered marketer, has over 30 years’ experience both in house and agency side, the last 10 being in professional services. She chairs the Marketing Taskforce for the UK200 Group, a membership of over 60 accountancy and law firms, sharing her expertise and guidance to other marketers within the group and building her network. Head of Marketing we feel is the perfect title to reflect her expertise and the services that she provides.”
Alison will also sit on the steering group of Humber Business Week. Pat Coyle, Chair of the Humber Business Week, said: ‘We are excited to have Alison Mitchell on board as a member of the Humber Business Week Steering Group. Her extensive network of connections and knowledge of the business community, especially on the south bank of the Humber, will be invaluable as we continue to grow and expand the reach of the Business Week.”
Construction starts on £4.3bn electricity superhighway between Scotland and Yorkshire
Construction work on a major UK electricity infrastructure project has taken a momentous step forward, with a symbolic simultaneous ground-breaking ceremony in Scotland and England at either end of the £4.3bn EGL2 project – a 2GW subsea electricity link.
In a significant milestone in the step towards decarbonising the energy system, representatives from National Grid and SSEN Transmission took the first ceremonial spadefuls of earth, marking the start of main construction, at events held at either end of the subsea link in Peterhead in Scotland and Wren Hall in Drax, near Selby in North Yorkshire.
After travelling 436km under the sea from Peterhead, EGL2’s subsea cable will come ashore on the East Yorkshire coast at Fraisthorpe Sands and then run underground for 68km to a new high voltage current (HVDC) converter station at Drax. Once complete, it will unlock the rich renewable energy capacity of Scotland and significantly increase the UK’s capacity to deliver clean energy for around two million homes.
At peak periods of construction, the project is expected to support hundreds of local jobs in Yorkshire, through supply chain and construction activity.
Representatives from National Grid were joined in Yorkshire by colleagues from specialist HVDC cable supplier, Prysmian, and Hitachi Energy and BAM, responsible for the supply of converter stations at either end of the project.
Commenting at the ceremony, Offshore Delivery Director for National Grid, Zac Richardson said: “Today marks an important moment for all involved in the project and the commitment of both National Grid and SSEN in delivering major projects that will play a key role in supporting the UK’s transition to a net zero economy.
“EGL2 is the first of four currently proposed 2GW projects between Scotland and England to begin construction and in total these projects, delivered in partnership by National Grid, could provide enough renewable electricity to power eight million homes.
“Achieving this first milestone wouldn’t have been possible without the huge commitment of the project team, our construction partners, stakeholders and the invaluable feedback from local communities.”
Akshay Kaul, Ofgem Director General for Infrastructure Group, said: “Today is a historic occasion. Not only is construction starting on EGL2, Britain’s biggest ever electricity transmission project, but we’re also standing here two years earlier than we might have been thanks to Ofgem’s fast track new process which cuts red tape to get consumers across the country connected to renewable energy more quickly.
“Harnessing homegrown clean energy will help build a secure energy future for Britain, and projects like EGL2 are pivotal in our move towards that. This is the first project to successfully complete our new process and many more major energy projects are going through this fast-track pipeline.”
Wren Hall Converter Station in Drax has seen the start of main construction activities this month, including site establishment and vegetation clearance. Surveys are expected to continue along the underground cable route in the coming months.
The project is expected to be operational in 2029.
Grimsby’s University Centre gets new Campus Principal
The TEC Partnership has appointed Joanne Wallace as new Campus Principal for Higher Education at the University Centre Grimsby.
She joined the TEC Partnership last year as Deputy Principal, bringing extensive experience in the education sector, from the University of Leeds and Bradford College before working on curriculum development and quality management of overseas centres in the Pacific Rim and Middle East.
Joanne said: “I joined TEC Partnership as Deputy Principal a year ago and have felt fortunate to join an organisation and team where improving the outcomes of every student is at the heart of everything they do.
“I am looking forward to working with colleagues to continue to develop an accessible and outstanding provision for the communities that we serve and to further the development of our new Animal Care training facility at our Grimsby campus and the new build development of the Skegness campus, both of which will bring further educational opportunities to our local communities.
“One of my key goals going forward is to further involve local and regional employers in our academic provision and to align our offer to existing and future aspirations of their business and regional economic priorities.”
Ann Hardy, CEO of the TEC Partnership, said: “Joanne’s extensive experience in Higher Education and curriculum development will support students and our local communities. Her approach to supporting our local community and building lasting talent pipelines make her the ideal person to lead the University Centre forward.”
Council bids to stamp out illegal employment of children
Cleethorpes businesses have been visited by officers from North East Lincolnshire Council in an effort to stamp out the illegal employment of children.
The visits were led by the North East Lincolnshire Modern Slavery Partnership, who work to raise awareness of modern slavery human trafficking, and were joined by officers from North East Lincolnshire Council, Humberside Police, and the NEL Community Safety Partnership.
The visits were paid to a number of businesses in the resort as part of a proactive themed calendar set by the Humber Modern Slavery partnership.
In the UK, it’s illegal to employ a child of school age without a child employment permit, and those convicted of doing so can face a fine of up to £1,000.
There are some circumstances which are exempt from this, including periods of work experience arranged by schools.
Councillor Ron Shepherd, portfolio holder for safer and stronger communities at North East Lincolnshire Council, said: “It’s important that businesses follow the law and keep up to date with legislation. Child employment permits have been around for a long time and there is no real excuse for businesses not to be aware of the need for them.
“The license is there to prevent the exploitation of children, and I’m pleased to see the team going out and visiting premises following reports that they’ve received.”
Visits were paid to a number of businesses, and whilst no evidence of child employment was found on the night, officers will carry out some work with those businesses to ensure that the proper permits are in place where required.
Bruntwood SciTech launches innovation hub in Leeds following £20m redevelopment project
Bruntwood SciTech, the property platform dedicated to the growth of the innovation economy, has launched its latest innovation hub, West Village in Leeds city centre, following a £20 million redevelopment project.
Already 75% pre-let, West Village now offers 230,000 sq ft of state-of-the-art workspace designed to help innovation thrive and stimulate collaborations between like-minded businesses. West Village provides a mix of coworking, serviced and leased spaces.
Cementing Leeds’ position as a leading technology hub – with Lloyds Bank naming it the fastest growing digital economy in the UK – businesses already confirmed to make West Village their home include global insurtech innovators QBE – who have located their robotics centre and technological development hub at West Village, Australian fintech company, PEXA, and coding bootcamp providers Northcoders.
The launch of West Village marks the culmination of an ambitious development project by Bruntwood SciTech – a joint venture between Bruntwood, Legal & General, and Greater Manchester Pension Fund – that has completely reimagined the former site of West One and Castle House.
Improvements have been made to the building to reduce CO2 emissions, improve air quality, reuse rainwater, reduce noise and create new habitats for local birds and wildlife. As part of the redevelopment, the building has been fitted with high efficiency air source heat pumps, sensor technology to promote the use of natural ventilation, new windows and additional wall insulation.
The design of the new workspace also has sustainability and wellbeing at its heart, and is focused around an expansive new entrance space with shared lounge, breakout spaces, meeting rooms, a café operated by independent retailer Second City Coffee, art curated through a partnership with Leeds University students, and a central courtyard with expansive biophilia that will provide the city centre with much needed green space.
West Village also offers a new state-of-the-art wellness facility – RESET Leeds, operated by premium training brand FORM – a mindfulness contemplation room, nursing and expressing room, secure cycle storage, a sports kit drying room, and shower, changing and locker facilities.
Bruntwood SciTech has also announced the refurbishment completion of nearby workspace 14 King Street, part of the company’s city centre innovation cluster.
Andrew Cooke, Regional Director – Leeds for Bruntwood SciTech, said: “West Village is the culmination of a hugely ambitious and important redevelopment project for the city. Leeds has built a reputation as a leading technology ecosystem and for good reason, with hundreds of innovative businesses now calling the city home.
“So it’s crucial that we continue to provide forward-thinking workspaces to ensure that these businesses are set up for success here. West Village does just that and more, offering spaces that encourage collaboration, inspirational thinking, and a positive work-life balance.
“Having already built a successful ecosystem of tech-led businesses at nearby Platform, we are excited for West Village and 14 King Street to join and build this community, ultimately adding to Leeds’ burgeoning technology status.”
At West Village, Bruntwood SciTech partnered with Robertsons, Cubic Works, 3D Reid, I Want Plants and DWLLP while Ultimate Group carried out the works at 14 King Street. CBRE and Knight Frank support West Village while Cushman & Wakefield and Fox Lloyd Jones support 14 King Street.
Greater Lincolnshire LEP puts rebel technologists under microscope at next conference
The Greater Lincolnshire Enterprise Partnership’s next conference will focus on the role of rebel technologists in organisations and the launch of an innovation roadmap to help businesses access innovation services.
The conference, on November 7th, will also provide an update on some of the work that the LEP and its partners have undertaken this year and include a conversation between the three chairs of the LEP, Ursula Lidbetter, Pat Doody and the current Chair Professor Neal Juster.
Among the other highlights will be a technology and innovation demonstration area showcasing Lincolnshire businesses and organisations that support or drive innovation.
The event will take place at the EPIC Centre on the Lincolnshire Showground. Admission is free and there will be the usual networking opportunities and a complimentary lunch for delegates.
Professor Juster said: “Our annual conference is always very popular and we’re delighted to be welcoming delegates again this year.
“Innovation is crucial to our economy. This year we want to celebrate those innovators who have blazed a trail by doing things in a new way, and at the same time encourage others to think outside the box and find innovative ways of working.
“We’ve already confirmed a host of businesses and organisations who will be showcasing our competitive edge in our technology and innovation exhibition area.
“The conference promises to be another fascinating day so I strongly urge you to sign up for your free ticket to avoid missing out.”
Sugar firm handed £25k fine for failure to comply with CMA merger procedures
The Competition and Markets Authority (CMA) has imposed a fine of £25,000 on Tereos SCA and Tereos United Kingdom and Ireland Limited (together Tereos) for failing to provide relevant information in relation to the merger inquiry concerning the T&L Sugars/Tereos deal.
As part of the CMA’s phase 2 investigation, a notice was sent to Tereos under section 109 of Enterprise Act 2002 (the Act) requiring the production of certain minutes and internal documents in relation to its board and corporate governance. Tereos responded to the notice, however, following further enquires by the CMA it was found that Tereos failed, without reasonable excuse, to provide a full response.
In particular, the CMA Inquiry Group found that Tereos’ interpretation of the scope of the notice was unjustifiably narrow and untenable when viewed in the context of the object of the merger inquiry and that the failure was capable of having an adverse impact on the CMA’s investigation.
In order to reach sound decisions that benefit consumers and the UK economy as efficiently as possible, it is essential that the CMA is able to gather all the evidence it requires. Parties must therefore comply, on time and in full, with requests for information from the CMA during an investigation.
Richard Feasey, Chair of the independent inquiry group which led the investigation, said: “It’s important that firms respect the UK merger review process – which includes providing all the information we need to promptly progress our investigation.
“Firms and their advisers must not apply their own narrow, artificial interpretation of our formal information gathering requirements– as Tereos has done so here. Had they responded properly then Tereos could have avoided this fine altogether.”
Currently, where there is a failure to comply, without reasonable excuse, with a requirement of a notice under section 109 of the Act, the maximum fixed penalty the CMA is able to impose is £30,000. This is due to increase to 1% of the total value of a business’s worldwide turnover once amendments introduced by the Digital Markets, Competition and Consumers Act 2024 (DMCCA) come into force.ABP appoints Business Development Manager
Christine Watts has been appointed Business Development Manager at port operator ABP, focusing on developing carbon capture and storage value chains and transport solutions.
Christine served as a Lead Commercial Advisor at Neptune Energy where she developed non-pipeline transport solutions for CO2, and opportunities for offshore green hydrogen production via Integrated Energy Hubs. She also has significant experience in commercial and joint venture, project and change management.
She said: “I very much look forward to diving into the world of ports and using my customer-side experience to provide our partners with the tailored services and insights they need to thrive.
“There is so much potential to create value in the UK carbon capture and storage market. CO2 shipping will help accelerate industrial decarbonisation because not every emitter is at the end of a pipeline.”
Ralph Windeatt, ABP’s Group Head of Business Development, said: “Over the next decade we look forward to seeing the development of both domestic and cross-border CO2 shipping to support the widespread deployment of carbon capture and storage solutions, with ports at the heart of this transition.
“We are very well placed to build on the unique opportunity to work with businesses in this sector, so that together we can deliver large-scale investment, drive economic growth and create good quality jobs, which will bring prosperity to regional communities across the UK.”
Citra Living boosts portfolio of rental properties with almost 60 new homes on outskirts of Bradford
Citra Living, part of Lloyds Banking Group, has boosted its growing portfolio of rental homes across the UK, with the addition of almost 60 new homes on the outskirts of Bradford.
Citra, which now operates more than 4,000 properties (of which 2,500 are delivered and occupied), has forward-purchased 58 single family homes at housebuilder Gleeson Homes’ semi-rural Wood Hall Chase development in Bierley.
As part of Gleeson’s broader 106-home development on Shetcliffe Lane, Citra will bring to market a range of two, three and four-bedroom homes for private rent, with the first due for completion in 2026. The additional homes aim to further support first-time buyers and young families in the area.
All 58 Citra homes will be delivered to EPC B rating, supported by air source heat pump technology.
Less than three miles from both the M62 and Bradford Interchange rail station, Wood Hall Chase will provide commuter links to Leeds and Huddersfield. Surrounded by countryside, residents will also benefit from local amenities in Bierley, including its bars, restaurants, shops, garden centre and community centre.
Andy Hutchinson, Chief Executive Officer of Citra Living, said: “Wood Hall Chase further strengthens our growing portfolio as we continue to pursue opportunities to create a positive mix of housing in areas where people want to live. We’re looking forward to seeing the homes progress and welcoming new customers to the Citra community as we continue to provide pathways from rental through to home ownership.”
Graham Prothero, CEO of MJ Gleeson, said: “We are delighted to partner with Citra Living to deliver 58 single family homes on our development in Bradford. This partnership aligns with our mission, core values, and commitment to excellence, offering more customers access to quality homes through our combined expertise.”
