2025 Business Predictions: Alexandra Fogal, Partner, Head of Private North, EY
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 Alexandra Fogal, Partner, Head of Private North at EY.
The outlook for Yorkshire’s private mid-market appears bright and full of potential for 2025. Indeed, despite ongoing economic headwinds, including increasing employment costs and geopolitical tensions, there are reasons for optimism as we look forward to the year ahead.
There are several investment hotspots in Yorkshire, including renewables, as the UK’s drive towards net zero continues. Indeed, the focus from companies within the private mid-market on their ‘sustainability in business’ practices, especially led by regulation, ramped up substantially in 2024 – a trend that appears likely to continue throughout 2025.
Meanwhile, technology is another area with significant growth potential in 2025. The adoption of Artificial Intelligence (AI) and the integration of clean technology have been recent priorities for businesses in the region, and throughout the UK, which bodes well for tech growth prospects going forward.
Diving deeper on technology, the manufacturing industry is embracing significant transformation through the adoption of robotics, while the growing prominence of e-commerce is driving sustained changes in consumer habits, as well as supporting supply chain resilience.
Property is another area in which investment prospects appear bright for 2025 in Yorkshire, with urban regeneration real estate projects on the rise as businesses look to embed themselves in their communities to help drive regional growth. An apt recent example of this was EY’s move to its new Leeds office at Wellington Place.
Furthermore, for both Yorkshire and the UK more broadly, prospects for the Private Equity (PE) market appear promising for 2025, with market activity steadily increasing of late, and businesses likely to have access to higher levels of capital in the new year to help support and drive investments.
HSBC tech chief to offer hints and tips to demystify rapid technological change
York businesses are being invited to hear from HSBC’s Head of Technology Sector and Growth Lending at a new Tech Forum free event.
The event, at the City Council’s West Offices on Thursday 13 February, will see Roland Emmans explore how businesses can embrace rapid technological change.
He will share insights from a career in business finance, during which he’s developed a forward-thinking approach to the future of tech in business. He is expected to cut through the ‘buzz words’ that dominate current conversations about tech, and to outline the what technological change really means now, and in the future.
He said: “I’m looking forward to discussing how the world is evolving and how technology is driving change. The session will also look to demystify some of the current trends and provide tips and tricks on how to harness technology within your business and your life today.”
In addition, attendees will hear from Doug Winter, Founder and CTO of Isotoma, a 20-year-old York-based software development agency, who will share the story of its business journey.
Cllr Pete Kilbane, Executive Member for Economy and Culture at City of York Council, said: “We’re very much looking forward to welcoming Roland to York for what promises to be an informative, thought-provoking and inspiring event and I’d wholeheartedly encourage any business to book early to avoid disappointment.
“This event is by no means just for businesses who see themselves as part of the tech sector – it’s for anyone who uses tech, or is interested in the use of technology in running their business in the most efficient and effective ways.
“It’s great to see HSBC UK playing such an active part in supporting York enterprises of all shapes and sizes and acknowledging the huge impact that rapid technological advances are going to make for businesses in the years ahead.”
New Leeds headquarters for NG Bailey
NG Bailey, the independent engineering and services business, is relocating to a new office in south Leeds. The business has chosen the ABC Building at White Rose Park as its new headquarters following the move from its site at Brown Lane West, Holbeck.
The move marks the next evolution in NG Bailey’s long history of working in Leeds, with the company’s first office opening in the city in 1921.
The new 25,230 sq ft Grade A office space at White Rose Park will offer a dynamic, amenities rich workspace for colleagues and was chosen for its high-quality infrastructure and transport links.
Jonathan Stockton, CEO of NG Bailey, said: “Our move to White Rose Park marks an exciting new chapter for NG Bailey. While Brown Lane West has been our home over the past five decades, our relocation to a modern office space under a long-term lease is crucial for our growth in Leeds and the wider Yorkshire region.
“Our new office, combined with the numerous amenities in the Park, will foster a more vibrant and collaborative atmosphere for our team and visitors. The move supports our emphasis on sustainability and wellbeing in our workplace, with the Park being an exceptional place to work.”
NG Bailey will have access to a number of wellbeing and health initiatives available at the White Rose Park, which include a running club, yoga classes, outdoor training parks and green spaces. Other amenities include a Starbucks, 200-seat communal restaurant area, and an onsite nursery catering for children up to school age.
David Aspin, Chief Executive of Munroe K, said: “We are delighted to welcome NG Bailey to our White Rose Park Community. Their move is a real endorsement of our park and our collective ambition to provide the working environment of the future where people look forward to attending the office.
“Our ESG credentials, alongside measures to reduce our carbon footprint and work toward net-zero will help to make the Park one of the most forward-thinking and sustainable business and education locations in the north of England.”
South Yorkshire business confidence slumps after budget, says Chamber
Business conditions and confidence levels have weakened dramatically across South Yorkshire since Government’s Autumn Budget, according to finding from the region’s latest Quarterly Economic Survey.
The Chamber says responses from about 300 companies of varying sizes paints a troubling picture of how the local economy is performing, and how businesses have ultimately born the brunt of some of the more controversial measures announced by Westminster.
After charting a positive trajectory in recent surveys, key indicators like domestic sales performance, exports, and cashflow positions have all taken a sharp downward turn this quarter, while confidence in turnover and profitability levels has similarly declined. Conversely, the proportion of firms expecting the prices of goods & services to go up has increased, reaching a two-year high of 59%.In a joint statement the respective Chief Execs for Doncaster, Sheffield and Barnsley & Rotherham Chambers of Commerce issued the following joint statement:
“It’s evident that the Autumn Budget is already exacting a heavy toll on business owners, who are having to make some tough calls as a result; whether it’s scaling back their investment intentions; putting up their prices; or potentially even thinking about reducing their workforce levels.
“Although there are undoubtedly other factors at play contributing to this collapse in optimism, it’s hard not to point at what our survey respondents told us is their biggest source of consternation right now. Ever since 2021, inflation has consistently remained the number one worry for firms here in South Yorkshire, often eclipsing any other anxieties by a wide margin. Yet, this time around, corporate taxation towered well above it, being cited as a major issue for over 63% of firms. For context, in the previous quarter leading up to the Autumn Budget, this number was at only 37%.
“In times of economic turmoil, Westminster ought to be encouraging entrepreneurialism and growth. Yet the consequences of their Autumn Budget — and specifically the corresponding hike in the National Insurance contributions paid by employers — are plain to see here. Business confidence is now falling at an alarming rate.
“With that said, while we do welcome planned interventions to restore stability in the long term, such as the forthcoming industrial strategy, something needs to be done in the here & now to convince businesses that the Government is attuned to their plight and that it indeed has their back.
“Of course, we know that South Yorkshire’s ever-resilient private sector will capably rise to whatever challenges await them in the year ahead, and can also take solace in the fact that great business always a way. No matter how tough the economic conditions may get. Not to mention, we here at the South Yorkshire Chambers will be right at a hand to offer whatever support we can to these intrepid firms, and to hopefully play a big role in their success going forward.”
ABP signs agreement with MoD for military movements
Port operator ABP has agreed a strategic relationship agreement with the Ministry of Defence to boost the flexibility and resilience of the UK Armed Forces.
The agreement gives the MOD access to ABP’s ports across the UK, including on the Humber, for loading and unloading of military hardware at no additional cost to the original contract for the provision of such services at the Port of Marchwood.
Henrik L. Pedersen, Chief Executive Officer of Associated British Ports, said: “As part of our strategic commitment to supporting the defence sector, ABP is proud to provide the MOD access to our network of ports across Britain for both national emergencies and routine business.
“By doing so, ABP is confident it will increase the resilience and capacity of the MOD’s sea mounting capability for the most demanding scenarios, whilst driving greater cost-effectiveness into routine deployments. We look forward to deepening our relationship with the Armed Forces and the strategic defence sector across the UK.”
Vice Admiral Andy Kyte CB, MOD’s Chief of Defence Logistics and Support, said: “This new arrangement greatly boosts the resilience, efficiency and agility of Defence’s Sea Mounting Capability through access to ABP’s national port estate. The relationship with ABP forms a key component of the UK Strategic Base which is critical to Defence’s ability to mount, sustain and recover force elements.”
Director banned for nine years for undermining insolvency system
A key figure in a scheme designed to undermine the insolvency system has been banned as a company director for nine years.
Neville Taylor, 57, was paid more than £250,000 by Atherton Corporate (UK) Ltd to become the sole director of more than 400 companies.
Taylor’s disqualification, based on his conduct as director of ta dozen companies, including six in West Yorkshire, means he will have to step down as director of at least 196 companies from his correspondence address of Bridge Street, in Kington in Herefordshire. He will also no longer be able to act as director of more than 250 companies.
Dave Magrath, Director of Investigation and Enforcement Services at the Insolvency Service, said: “Neville Taylor hampered efforts by liquidators to identify assets, caused a widespread loss to creditors and breached his duties as a director to act in the best interest of the companies and creditors.
“He also accepted that his conduct was part of a scheme designed to subvert and undermine insolvency legislation.
“Taylor made inadequate attempts to identify and locate millions of pounds of assets, to obtain company records, or to make himself aware of the companies’ trading. At the same time, he was paid by Atherton Corporate (UK) Ltd to enable this scheme.
“By disqualifying Taylor, we are making it clear that we will not tolerate those who avoid their legal duties as directors or seek to enable phoenixism.”
Taylor became sole director of the companies at various points between April 2022 and March 2023 after they had ceased trading but before they entered liquidation.
Insolvency Service analysis of bank statements revealed Taylor was paid £266,914 by Atherton Corporate (UK) Ltd to perform this role.
The companies had combined assets of £8,278,912 according to their final filed accounts.
By the time the companies entered liquidation with Taylor at the helm, their estimated assets stood at only £676,169, a decrease of more than £7.6 million.
Leeds group acquires London architecture practice
DB3 Group, a Leeds-headquartered architecture, engineering, and building solutions consultancy, has acquired TTG Architects, a London-based architecture practice specialising in retail and education.
Since their move to an employee-owned model in December 2022, DB3 has been working to shape its operations for future growth, with this acquisition being one of the steps made to strengthen its retail and education teams.
Founded in 1982, TTG Architects has built a strong reputation for delivering retail design projects. The practice works with some of the UK’s largest retail brands, including Primark and Tesco.
Over the past 30 years, DB3 and TTG have collaborated on numerous projects, working for mutual clients such as Marks & Spencer. The acquisition formalises this relationship and enhances DB3’s ability to serve high profile clients such as HUGO BOSS, adidas, Boots, Co-op, Morrisons and Tim Hortons.
Julius Steinert, Managing Director for the South at DB3, celebrated the recent business move, emphasising its significance for the company’s future. “This acquisition represents a significant step forward for DB3 as we continue to evolve and grow.
“It not only reinforces our commitment to providing stability and consistency to our clients but also positions us to lead in the retail sector. By uniting the strengths of DB3 and TTG, we are combining our expertise to deliver outstanding service to our clients.”
TTG will become part of DB3’s London team at Glasshouse Yard, adding valuable expertise to support the company’s expanding portfolio. As part of the integration, TTG’s Managing Director, Peter Tunwell, will become a member of the DB3 Board, while Peter Stone will join DB3’s Operations Board, further strengthening the leadership team with their experience and insights.
“Joining DB3 is an exciting opportunity for TTG,” said Peter Tunwell. “Our shared histories and complementary expertise mean we can offer even more to the brands and clients we work with while continuing to grow in the retail and education sectors.”
Customer communications provider swoops for Huddersfield counterpart
Mail Metrics, a customer communications technology provider serving financial and regulated industries, has acquired Adare SEC, a leader in multi-channel communication management.
This strategic move accelerates Mail Metrics’ expansion into the UK market while solidifying its reputation as a trusted provider of digital and printed communication solutions.
Mail Metrics has achieved remarkable growth in recent years, with revenue growing from €1 million in 2019 to a projected £175/€210 million proforma in 2024. The acquisition of Adare SEC, which operates from sites in Huddersfield, Leicester, and Glasgow, increases Mail Metrics’ workforce from 150 to 600 employees, and marks the company’s fourth acquisition in four years.
As part of the deal, MML Growth Capital Partners Ireland has invested a substantial amount in Mail Metrics for a minority stake. The deal is also backed by Bank of Ireland and AIB.
Nick Keegan, Group CEO UK & Ireland, Mail Metrics, said: “This is a landmark day for Mail Metrics as we welcome Adare SEC into our group. Tony Strong and his team have built an exceptional business with a stellar reputation in the market.
“This acquisition is a natural step in our scaling journey, combining our strengths to deliver innovative and compliant communication solutions for our growing client base across the UK and Ireland.
“I would like to extend my gratitude to our financial backers who have made this deal possible. MML Ireland, our new private equity partner, and our banking partners at Bank of Ireland and AIB have provided invaluable support throughout the process.
“Their collective confidence in our vision and commitment to this acquisition has been instrumental in bringing us to this successful outcome.
“Additionally, I would like to thank Clearwater, our corporate finance advisors, for their advice, and unwavering support throughout the entire process.”
Chris Walsh, Investment Director at MML Ireland, said: “MML is delighted to back Nick and his team in this landmark acquisition. Mail Metrics has built a brilliant, customer-focused business underpinned by its own technology.
“The deal brings together two of the leading providers of critical customer communications in the UK and Ireland and we look forward to working with the combined Mail Metrics and Adare SEC team to bring out the best of both businesses and to support them on their continued growth journey.”
Tony Strong, CEO of Adare SEC, said: “This is a fantastic next chapter for the business and I greatly look forward to working with Nick and the team to ensure a seamless transition.
“These are exciting times, and the future looks extremely bright. I want to echo Nick by also thanking our advisory teams EY and Pinsent Masons who have been invaluable during this process.”
Adare SEC’s former Chairman, Peter De Haan, who has owned the company since 2000, will be retiring following the sale. He remarked: “We are immensely proud of all we have achieved under the Adare SEC banner, and we knew that the sale of the company had to be to a business with the same expertise, ambition and deep respect for the industry.
“Mail Metrics is a perfect fit, and the growth to date of the business showcases the talent of Nick and the team. I want to thank Tony Strong and all Adare SEC colleagues across our Huddersfield, Leicester and Glasgow sites for their incredible work in driving the company forward, and I wish the new venture every success.”
Jeremy Harrison, EY M&A Partner, said: “It was a pleasure acting for the shareholders and management of Adare SEC on this sale. Adare is a highly respected and trusted brand in critical customer communications and the combination with Mail Metrics software-led solutions should enable both to prosper greatly in the future.”
Opticians wins sustainability accreditation
Bayfields Opticians and Audiologists has won sustainability certification after successfully offsetting its carbon emissions across its audiology services at seven of its Yorkshire practices.
Practices in locations including York, Harrogate and Headingly have earned the Carbon Neutral Audiology certification by calculating its carbon footprint – including emissions from client travel to and from the practice – and offsetting these emissions through Net Zero Eyecare. This gives clients added peace of mind that when they purchase a product or book an assessment with Bayfields, their carbon footprint is effectively offset.
Net Zero Eyecare purchases carbon credits on the practice’s behalf from the Gold Standard marketplace, supporting carefully selected projects worldwide. These projects balance out emissions and contribute to global sustainability initiatives, such as reforestation, renewable energy generation, and clean water access.
Bayfields also runs a recycling scheme where clients can drop off old hearing aids into practice. They are then collected and donated to Chichester Lions Club who send them to be reused in eye and ear clinics across countries such as Papua New Guinea, Sri Lanka, Ghana and Nigeria.
The Yorkshire-based practices are six of 35 Bayfields locations across the UK to achieve this sustainability certification, as the business works toward its ambitious goal of becoming fully carbon-neutral by 2026.
Megan Harper, Sustainability Manager at Bayfields Opticians and Audiologists, said: “Sustainability is at the heart of everything we do. It’s not just a corporate initiative — it’s a genuine commitment to making a positive impact on the environment.
“By getting our practices to Net Zero Carbon Status and achieving Carbon Neutrality across our audiology and eyewear services, by the end of 2024 across the business, we will have successfully removed 15,483.83 tonnes of Co2 from the atmosphere, which is equivalent to taking approximately 3,366 cars off the road for a year.
2025 Business Predictions: Jonathan Cooper, Founder & Director of The Director’s Helpline and The Director’s Choice
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 Jonathan Cooper, Founder & Director of The Director’s Helpline and The Director’s Choice.
2025 is going to be a challenging year for UK businesses – especially in relation to finances.
With the Government increasing employer National Insurance contributions from 13.8% to 15%, businesses will be facing higher employment-related expenses, which could impact profitability and business viability, as a result.
There’s also the ongoing issue of bad debt. UK SMEs saw this surge last year – seeing many SMEs having to write off almost £40,000 each in unpaid invoices over a 12-month period.
I believe that with increased financial pressure on UK businesses, this means we’ll likely see insolvency rates climb – perhaps not immediately, but in six months, there could be massive changes.
If we look at the Government’s insolvency statistics for October 2024, there were 1,747 insolvencies in total.
However, while this was a 10% decrease on the previous month, the number of company insolvencies remained much higher than those during the pandemic.
While all sectors will feel the financial impact of the Budget, there are some – including hospitality and construction – where already tight budgets will be further squeezed. This is due to the complex geopolitical backdrop, and subsequent impact on consumer confidence.
The recent change in government in both the US and UK, the UK economy’s slow growth, disrupted supply chains, and restricted cash flows, are hurdles that will continue to shape the future of business this year.
The pandemic taught businesses that forward planning and resilience strategies are key in helping maintain business continuity when the going gets tough. Therefore, it’s likely that the uncertain economic backdrop will see directors and business owners seeking more advice on the running of their business – being more proactive rather than reactive.
As such, they will likely be taking greater measures to prepare – surrounding themselves with the right support and advice networks to help them plan for different eventualities.
