Yorkshire business confidence dips but remains upbeat
Business confidence in Yorkshire fell six points during August to 32%, according to the latest Business Barometer from Lloyds Bank Commercial Banking.
Companies in Yorkshire reported lower confidence in their own business prospects month-on-month, down four points at 32%. When taken alongside their optimism in the economy, down seven points to 32%, this gives a headline confidence reading of 32%.
Yorkshire businesses identified their top target areas for growth in the next six months as investing in sustainability (35%), investing in their teams (32%) and introducing new technology (25%)
The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide. A net balance of 21% of businesses in the region expect to increase staff levels over the next year, the same reading as last month.
Overall UK business confidence increased to its highest level since February last year, jumping 10 points to 41% in August. All 11 regions and nations reported a positive business confidence reading in August, with nine regions and nations reporting a higher confidence reading month-on-month.
Optimism in the UK economy also increased in August by 16 points to 37%, and the number of businesses expecting an increase in their trading prospects rose by three points to 46%.
Businesses in London reported the highest levels of business confidence at 52% (up 20 points month-on-month), its strongest reading in 14 months. Firms in the South East reported the second highest reading at 47% (up 17 points month-on-month), followed by those in the South West at 46% (up 12 points month on month).
The construction, retail and service sectors all saw a rise in business confidence in August. Services gained 12 points to reach a 22-month high of 42%, while retail firms were up nine points to 44%, an 18-month high. Construction firms’ confidence also increased by 11 points to a four-month high of 42%. In contrast, manufacturing confidence fell for a second consecutive month with a 4-point decline to 30%, taking it to the lowest level since April 2023.
Steve Harris, regional director for Yorkshire at Lloyds Bank Commercial Banking, said: “Despite a small dip in confidence this month, it is encouraging to see that businesses remain resilient in their efforts to grow. It’s especially positive that sustainability is a big priority as this is not only critical to support the transition to Net Zero but we also know it can present significant financial opportunities for businesses.
“Firms looking to invest in improving their sustainability should take advantage of the discounted lending available for these projects and seek support where they need it to identify new avenues for green growth. As always, we’ll remain on hand to provide businesses with practical tools and support as they achieve their ambitions.”
Hann-Ju Ho, senior economist, Lloyds Bank Commercial Banking, said: “The bounce in economic optimism this month is the standout point. Our analysis shows that businesses felt relief that interest rates may be reaching their peak, alongside hopes that measures to tackle inflation are having an impact.
“With trading prospects remaining stable, and hiring and wage intentions also rising, the macro environment for small businesses and those outside the manufacturing sector is more upbeat.
“From the data, large firms and manufacturers are experiencing some degree of caution, which is likely to reflect the wider global economic environment and, for manufacturing, the rotation of spending towards services.”
Biomass business snapped up in multi-million pound acquisition
Flush Energy Limited has looked to Lincolnshire for its first acquisition, as the start-up business seeks growth opportunities in the biomass sector.
Flush Energy has secured a multi-million pound funding package comprising private equity investment as well as debt finance to assist with its growth plans, following its acquisition of the business and assets of 3F Pellets Limited (in administration), a manufacturer and supplier of wood-based pellet products including biomass heating pellets.
Flush Energy is now focussed on returning the Lincolnshire-based plant to production and targeting further acquisition opportunities.
Led by corporate partner, Philip Ashworth, a multi-disciplinary team at Andrew Jackson Solicitors LLP comprising Nicole Waldron (corporate), Samuel Peake (property), Nick Wilson (employment) and Fiona Phillips (tax), advised Flush Energy on the acquisition from joint administrators, Andy Pear and Milan Vuceljic of Moorfields Advisory.
Andrew Jackson also advised Flush Energy on the private equity investment and debt finance package.
The insolvency and reorganisation team at international law firm Clyde & Co LLP, led by partner Andrew Foster and assisted by Tristan Cox-Chung (legal director), Andrew Robertson (senior associate) and Lily Pidge (associate), were instructed by the joint administrators on the acquisition.
Clyde & Co’s corporate team, led by partners Simon Gamblin and Rob Lowe, provided legal advice to the debt funders.
Grant Lodge, CEO of Flush Energy, said: “We are delighted to have concluded the acquisition of the Lincoln pellet plant and are making swift progress with getting it back into production and yielding RHI income.
“We look forward to continuing to work with Philip Ashworth and his excellent team at Andrew Jackson Solicitors, who we expect to be a key part of our team, helping us with our growth plans in the coming years.”
Philip Ashworth said: “We are absolutely delighted to have assisted the team at Flush Energy on its first acquisition. It has been a complex transaction involving various regulatory issues, raising private equity and debt funding. Flush Energy is now well placed to grow the business, which offers a solid customer base from a fantastic location.
“It has been a pleasure to act for Grant and his team and we are confident that they will make significant in-roads into the biomass sector over the coming months.”
Digital Innovation Grant support helps psychologist take the stress out of driving business growth
A Sheffield-based psychologist, who uses his knowledge of neuroscience to help his clients make better decisions has seen demand for his services boom after securing help from the South Yorkshire Digital Innovation Grant scheme to move his burgeoning business online.
Glenn Mead launched his business Face Value Performance in 2017 after calling on help from the Launchpad business support programme. Since launching his own company, the Sheffield-based entrepreneur has kept himself busy helping a wide range of senior business executives to learn how to improve decision making and their communications skills.
Glenn is no stranger to dealing with stressful situations. He served as an officer in the British Army for nine years, before going to forge a successful career in leadership and management where he worked across Europe. In recent years, Glenn developed a particular interest in understanding how being placed in stressful situations can impair judgement.
Drawing on his background in occupational psychology, over the past six years Glenn’s coaching businesses has successfully built a loyal client base, where he has supported lawyers, self-employed workers and senior executives. His business even counts the NHS and MOD amongst his growing client base.
With plans to scale and develop his business further, the experience of delivering his training sessions remotely during the Covid-19 pandemic inspired Glenn to expand his online support services. He recognised that the key to unlocking a digital training package was being able to help his clients enjoy a similar experience offered in a face-to-face setting, and to achieve that he needed to invest in new technology to improve the way his presentations were delivered.
To help him achieve his goals, Glenn decided to apply to the South Yorkshire Digital Innovation Grant scheme, a match-funded ERDF funded initiative designed to help businesses across the region to improve productivity by embracing new forms of technology. He decided to apply to the programme to help him fund the vital presentation equipment he needed to move more parts of his business online.
Glenn’s successful application helped him to invest in the vital new camera equipment needed to grow and develop his business. Unlike the web camera which he had relied upon previously, the new technology enabled him to improve the way in which his presentations were delivered. The new camera allowed Glenn to zoom in on specific areas, allowing him to display a digital screen, but crucially keep other areas of his workplace out of view.
Since implementing the technology, Glenn has been able to expand his online offering, helping him to secure a number of new contracts, which he would not have previously been able to support.
Glenn Mead, Founder, Face Value Performance Psychology, said: “Our body language can be just as important as the words we are speaking. Research has consistently shown that when a presentation is delivered in person, more information is retained. I realised that to expand my digital offering, I needed to invest in a system that could allow me to share the information I wanted to communicate in the presentation slides, but also show my face at the same time.
The funds I received from the Digital Innovation Grant scheme have been a genuine game-changer for my business. The technology I invested in has not only helped me to achieve greater flexibility when it comes to presenting information, but it has also given me the opportunity to record content and training sessions, allowing my clients to revisit the themes discussed outside of the sessions. It has helped me to secure and deliver work to businesses across the UK, something that would not have been possible previously. I am now hoping to grow the business further and gearing up to recruiting my first employee in the not-too-distant future.”
Christina Lima-Trindade, Business Growth Adviser, Business Sheffield said: “I’ve been working with Glenn since he first decided to launch his business and it’s been great to see how his business developed during that time. Like many businesses, Glenn was forced to adapt to a different way of working during the Covid-19 pandemic; however, he recognised that the technology that had helped him to navigate that difficult time could also provide a golden opportunity to open up new markets for the business.
The Digital Innovation Grant scheme was created specifically to help businesses harness new forms of technology to increase productivity and drive growth, and in Glenn’s case this has enabled him to service work that would have previously meant long journeys and lost working hours. Overcoming those challenges has enabled Glenn to maximise his working day, as well as using the technology to record new videos, and has generated additional sources of income for his business.”
The Digital Innovation Grant scheme was launched in July 2021 and helps SME businesses across South Yorkshire to access match-funded grants to help them embrace new ways of working to improve productivity and growth and enter new markets. The scheme is now closed to new applications.
The programme funded up to 50% of projects with costs totalling £2,000-£10,000. It is part funded by the European Regional Development Fund and is delivered across South Yorkshire by Enterprising Barnsley, part of Barnsley Metropolitan Borough Council.
International rugby star turned commercial pilot tackles recruitment head on
Former international rugby player turned Emirates airline pilot Tony Underwood is to be the keynote speaker at an event in the city in October.
The event, organised by City of York Council’s Economic Growth Team, is called Recruitment and Retention Reimagined, and takes place in York’s Priory Street Centre on the morning of Thursday 5 October.
Tony now supports leaders seeking to nurture high-performing teams and will draw on his many experiences of teamwork and leadership to share his lessons with York’s businesses.
He said: “Recruitment and retention entail working hard to cultivate a culture where no-one wants to leave; an environment where you’ve earned commitment from your team, not just compliance – where you’ve engaged with them by talking to the heart not just the head.”
HR experts from across the region will join Tony to explore how York’s businesses of all shapes and sizes can improve their staff recruitment and retention processes in cost-effective and innovative ways.
Attendees will hear first-hand from local businesses, including the Grand Hotel, about the benefits of being inclusive employers, while Jenny Herrera, CEO of the Good Business Charter, will discuss how becoming a GBC-accredited business can help you attract and keep great staff.
Law firm’s sustainability initiatives – steps towards a greener future?
Climate conscious law firm Sills & Betteridge LLP are delighted to announce the introduction of a range of energy saving, carbon emission reducing initiatives.
Its largest undertaking is the recent installation of 79 solar panels to its central Lincoln Head Office with the aim of generating 1/3 of the site’s total energy usage – for 4 months of the year, solar energy will fully power the 4 floor office.
Derrick Denton, Director of UK Alternative Energy of North Hykeham in the city who managed the project said of the install “With Sills and Betteridge now occupying the whole of Aquis House, the challenge was to find a solar solution to help reduce the energy use within the building. A total of 79 x 405 W Canadian solar panels giving a system size 30.37kw, 3 x 10kw Solis inverters have been installed using a flat roof mounting system. This system has been equally split throughout the building and connected to the consumer units within the plant room. This system should see 25,000kwh of electricity generated each year and should see a saving of around six tons of CO2 every year. All the inverters are online, and the system can be displayed and monitored from anywhere in the world”.
Another investment has been the purchase of a new MG ZS Electric Hatchback car, bought to replace one of the firm’s diesel vehicles. It will be used by members of the firm to attend client appointments, external meetings and events. A charging point has been installed at Aquis House which clients are welcome to use when they are when visiting for appointments. The firm aspires to have a fully electric fleet by 2025.
Remote working and online video meetings are encouraged to help reduce avoidable travel across the region. Such methods became very popular with both clients and employees, further to their introduction during lockdown.
Digital and paper-light file management and document storage are another efficiency that the firm is embracing, to cut down on paper consumption and the cost of print and archiving. Document management system iManage is being rolled out across the firm to support its main practice management system.
Even the firm’s website www.sillslegal.co.uk is green, as verified by The Green Web Foundation, an independent non-profit organisation which tracks how much of the internet runs on green energy. Developed by DBS Internet Marketing, the site minimises the use of resources (and therefore energy) through quick download speeds and user-friendly navigation on all classes of device – and their hosting partner OVH used either renewable or low-carbon energy for 77% of its power last year with plans to increase it to 100%.
Chief Executive Officer of Sills & Betteridge, Martyn Hall said “Like many law firms, we are working hard to understand the impact of our operations and working methods on the environment and are actively seeking to reduce our overall carbon footprint with the initiatives and best practices outlined above. Our team have welcomed the new projects and we look forward to introducing more across the wider firm.”
Wykeland continues support for Hull’s Freedom Festival
Hull-based regeneration specialist Wykeland Group has again committed to being a major partner for the city’s Freedom Festival, which begins today and runs until September 3rd.
Freedom Festival Arts Trust brings other innovative arts projects, such as The Awakening and The Hull Vigil, to the city. As a charitable organisation, the Trust relies on backing from local businesses and generous individuals who contribute through in-kind support, partnerships and sponsorship.
As well as being a Freedom Festival Major Partner for many years, Wykeland’s commitment to the arts has extended to dozens of cultural organisations and events, including Humber Street Sesh, Pride in Hull, Hull Truck Theatre, the Amy Johnson Festival, Middle Child theatre company, Feral Art School, Beverley Puppet Festival and many more.
Wykeland MD Dominic Gibbons said: “Our support for culture and the arts in Hull and the wider region is something we’re wholeheartedly committed to and incredibly proud of.
“We believe passionately that physical, social and cultural regeneration are inextricably linked and that’s a key reason why we support cultural and arts organisations and events in so many ways.
“Freedom Festival is Hull’s premier cultural event and we have supported the festival and the organisation behind it since its earliest days. It’s one of the most significant ways in which we support cultural creativity, especially in Hull city centre and the Fruit Market where our business is based.”
Race Cottam Associates announce directors’ promotions
The board of directors at award-winning architectural practice, Race Cottam Associates (RCA) has been reorganised to lead the next phase of growth as the firm celebrates its 30th anniversary.
Paul Foster has been promoted from associate director to director while Laurie Cottam has become the practice’s MD after its current incumbent, David Speddings stepped into a senior design lead role. Pauline Lake’s role as director responsible for business development and David Cottam’s role as chairman both remain unchanged.
“This reorganisation of our Board has been carefully planned to implement our vision for growth but more importantly, to ensure business continuity,” explains Laurie Cottam. “David Speddings has been a familiar face for RCA clients for almost 30 years and will continue to act as our design quality champion, mentoring the next generation with his expertise in the advanced manufacturing, industrial and energy sectors.
“Similarly, as our work in healthcare has significantly accelerated, it was right to recognise and reward Paul’s substantial contribution with this promotion. A popular and proactive ambassador for the sector, Paul is best placed to lead this growth and ensure we remain a leading authority on design for health.
“Together with Pauline continuing to lead our education work and drive our sustainability credentials and business development, we’re confident we’ve orchestrated the best possible team to take RCA into its next 30 years,” concluded Laurie.
The directors’ revised roles follow a period of success for RCA. In healthcare, the recently completed new main entrance and paediatrics department at Hull Royal Infirmary won the Award for Design Excellence at the national Planning Awards 2023.
In education, RCA has secured a position on the University of Nottingham’s design consultancy framework, whilst both St Anne’s SEN School in Hessle and CAPA College in Wakefield are both shortlisted in the forthcoming Education Estates Awards.
The practice’s work on industrial and new infrastructure also continues to thrive, with planning permission recently gained for Smith + Nephew’s flagship manufacturing and R&D facility, and a fifth phase is nearing completion at AESSEAL’s precision engineering factory in Rotherham.
Laurie adds: “To record such a series of successes is a testament to the talent and creativity of our team. I am proud to be the custodian of the RCA brand and our recent Board changes ensure sustainable growth for future generations.”
Smart Works Leeds launches its inaugural ‘Fashion as a Force for Good’ Ball and Yorkshire Fashion Awards 2023
Smart Works Leeds, the charity that dresses and coaches unemployed women for job and interview success, has announced a major fund-raising ball and awards ceremony this November.
The inaugural Fashion as a Force for Good Ball will take place at The Marriott Leeds on November 15, 2023. It promises to be a glamorous celebration of the best of Yorkshire fashion, hosted by a team of super-stylish Yorkshire personalities.
Attendees are encouraged to dress in an occasion outfit that makes them feel confident and tells a story. Smart Works Leeds co-chair of trustees Tracy Fletcher says: “We invite you to wear that outfit you never thought you would, that has perhaps been stored in your wardrobe for too long, or it might be a favourite piece that reminds you of a wonderful time.”
The evening will include eight awards, four recognising individuals and companies who have supported Smart Works Leeds, and four awards celebrating Yorkshire fashion designers, influencers, stylists and retail outlets, all promoting fashion as a force for good throughout their work. They will each be judged on their commitment to sustainable fashion, to their community, to diversity, inclusivity and innovation.
The four fashion categories are:
- Force for Good Indie of the Year – An independent fashion designer, shop or online boutique, based in Yorkshire, with community and/or sustainability at their heart as they deliver brilliant design and/or excellent customer experience and quality.
- Force for Good Retail Team of the Year – Open to all fashion stores, from small independents to large retailers with multiple stores and Yorkshire-based online retailers. We are looking for teams who strive to engage with and make a difference to their community and their environment. Is there a fashion store in Yorkshire that you love, where the staff always go that extra mile to make you look fabulous and feel confident?
- Force for Good Emerging Designer of the Year – For students, graduates and emerging designers, based in Yorkshire, who have a strong focus on sustainability and/or inclusivity challenges. Who has impressed you with their innovative portfolio, collections and projects? Who is the One to Watch?
- Force for Good Influencer of the Year – Which Yorkshire-based social media fashion icon do you admire most? Who wears it well, but also does so much more than that, highlighting issues of inclusivity, sustainability and ethics, championing others and striving always to use fashion as a force for good?
Flood defence plan costing £29m has begun on the Humber
A £29m project to manage the risk of flooding to people and major industry in north-east Lincolnshire has begun with improvements made to 4.5 kilometres of coastal defences along part of the Humber estuary’s south bank.
The defences will benefit 2,300 properties, nationally important infrastructure, vital industry, and areas outlined by North East Lincolnshire Council for future development.
This is the third phase of the Stallingborough Sea Defence Improvement Scheme, which has repaired and strengthened sea walls between Immingham and Grimsby in stages over the last 15 years.
This latest stage of work will see the installation of large rocks called rock armour along three kilometres of the seaward side of the flood defence. The rocks will cover from the Middle Drain to the northwest to the New Cut Drain to the southeast. The remaining 1.5 kilometres of defences will be repaired. In addition, the four river outfalls will also be repaired and improved to make them more sustainable and resilient to flooding.
The majority of the work will be undertaken over 3 years, with pauses through the winter to reduce ecological impacts to the seaward side of the defence.
Dom Freestone, Operations Manager for the Environment Agency, said: “Low-lying communities along the Humber are at high risk of tidal flooding and rising sea levels.
“Works to improve the flood defences are vital to manage that threat and will help drive business confidence and investment in the area. But despite our best efforts, flooding can still happen.”
Rock armour is one of the most sustainable and low-carbon options available and minimises the potential impact on the area’s internationally important habitats. It will help fortify the walls and prevent the sea undermining them, ensuring they continue to reduce flood risk for at least a further 25 years, taking account of climate change predictions.
The work is expected to generate economic benefits valued at £1.1 billion over the next 25 years.
Councillor Stewart Swinburn, Cabinet member for the Environment at North East Lincolnshire Council, said: “Our coastline is an incredibly important one to protect, not only for the wonderful natural habitat, but also for the economic and industrial growth on the South Humber shore.
“The Humber Estuary’s natural tidal flow is something we have to embrace and work with, but by providing this investment in flood protection measures, the risk to people and businesses in this area is significantly less.”
Stallingborough’s coastal walls were originally built following devastating floods in 1953. They are now at increasing risk of damage from rising sea levels and more frequent storms.
South Yorkshire grant enables Danuta to bring her business to Barnsley
A Tech Welcome Grant funded by the South Yorkshire Mayoral Combined Authority has allowed a civil engineer specialising in complex 3D modelling to move her business to Barnsley to expand into the UK market and deliver training in CAD design software.
Danuta Rak’s 3DR Design and Training Studio Ltd, is the first recipient of such a grant, and has used it to part-fund an office at DMC 01 in Barnsley.
Moving from Rzeszów, in Poland, Danuta plans to use her new base as a springboard for growth, delivering 3D digital model applications for clients in a range of sectors including design and construction, medicine and research. Danuta will also offer training in AutoCad software.
Tech Welcome Grants aim to encourage tech businesses to move to the region – and also start-ups already here, to move into their first physical office space.
The grants provide help with accommodation costs for up to a year, with the percentage of rent covered dependent on the number of jobs the business brings to the region. Qualifying companies can choose to move into any South Yorkshire workspace.
3DR is the first company to gain a Tech Welcome Support Grant, which will cover 40 percent of the company’s rent for a 209 sq ft office at DMC 01 in Barnsley for 12 months.
Danuta said: “I was very keen to move to the UK to explore opportunities here; and the Tech Welcome Grant was a big help in taking this decision. The application process was quick and easy and the DMC team have been very helpful and welcoming.
“Every new business needs some financial support to move forward and develop; and this grant has helped me follow my ambition to work in the UK.
“DMC is a very friendly place and is more than an office but already a second home. It is good to be among so many smart, enterprising people.
“I am impressed with Barnsley too as it is an up-and-coming town. I am passionate about my work and excited about my company’s move to South Yorkshire.”
