Women are doing it for themselves: FTSE board gender balance tops 40%

Stuart Pearcey
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Women are doing it for themselves: FTSE board gender balance tops 40%
New data just out reveals that 40.2% of FTSE 350 Board positions are now held by women. The findings come as part of the latest report by the government-backed FTSE Women Leaders Review, sponsored by Lloyds Banking Group and KPMG, which was launched today in Canary Wharf. The report tracks the progress being made in breaking down barriers to progression of talented women into directorships and senior executive roles across business. The findings demonstrate steady progress in getting women leaders to the top table of business in the UK, with women’s board representation increasing by nearly 3% in 2022 across the FTSE 350 (40.2%). FTSE350 Leadership positions below the board for women are now at 33.5% and at 34.3% for the 50 of the UK’s largest private companies, published for the first time this year. Women now hold a third of all Leadership roles in FTSE 350 Companies too, a huge milestone that shows the continuing progress that is ongoing throughout businesses. The next critical goal for business is to achieve a target of 40% women in FTSE 350 Leadership teams before 2025 – which UK business is on-track to meet. Business and Trade Secretary and Women & Equalities Minister Kemi Badenoch said: “I’m pleased to see that FTSE 350 companies have surpassed this target, showing that change doesn’t always require top-down interventions but can occur when everyone is pushing in the same direction.

This progress is very welcome, and I’d urge business to keep up this momentum to achieve better balance in leadership positions as well as in boardrooms.

Just over a decade ago, 152 of the FTSE 350 Boards had no women on them at all – this is truly a thing of the past now, with the presence of women on every board of the FTSE 350 and the vast majority of the 350 companies now having 3 or more women on their board. With businesses hitting the 40% target for Women on Boards well ahead of schedule, it is clear that momentum is on their side and a sea change is still coming. Today’s results secure the UK in second place when compared internationally to other countries driving for more women on top public listed boards. This is especially notable, as the scope of the UK achievement is across 350 public listed companies, and progress has been achieved on an entirely voluntary basis, rather than by a mandatory quota system that is enforced on businesses in many countries. The UK’s unique business-led approach has paid dividends, with companies stepping forward to report their numbers, with high levels of success. Minister for Women Maria Caulfield said:
Making sure the right people are in the top roles is not just morally right, it makes good business sense. I’m delighted to see this huge progress, years ahead of when we expected it.

By working together, industry and government can make sure inequality is a thing of the past – which is good for individuals, for businesses, and for our country.

Producers given more responsibility to deal with packaging waste

Stuart Pearcey
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Producers given more responsibility to deal with packaging waste
New rules in force from now will make firms that supply household packaging responsible for the costs of dealing with packaging waste, moving costs away councils and council taxpayers. The Extended Producer Responsibility for Packaging rules mean producers must pay for the collection and disposal costs of household packaging they supply when it becomes waste. This, says the government, will encourage producers to reduce the amount of packaging they place on the market, and to improve the recyclability of their packaging – in turn ensuring less waste ends up in the natural environment. From today, all obligated packaging producers in England, Northern Ireland and Scotland must collect information on the amount and type of packaging they have supplied during 2023. Producers with a turnover of greater than £2 million and who handle more than 50 tonnes of packaging each year must also report this information to the Environment Agency twice a year. The first reports must be submitted from 1 October 2023. Environment Minister Rebecca Pow said: “We need to stem the flow of packaging which goes unrecycled and instead is lost forever to landfill and incineration.

“As set out in our Environmental Improvement Plan, these reforms will encourage businesses to increase their use of recyclable materials, shifting costs away from the taxpayer and supporting our work to protect the environment from the scourge of waste.”

Deep Sagar, chair of the Advisory Committee on Packaging, said: “Packaging materials that are not recycled back into new packaging harm our natural environment. Councils have to spend more managing that waste and the public cannot enjoy spaces such as parks and high streets as they should.

“Extended Producer Responsibility will reduce that waste. It will make goods producers pay for collection of all packaging waste encouraging them to reduce or recycle more packaging. I look forward to supporting government and industry in making this smart policy work for the public and improving the environment.”

British Steel wins renewal of third party certification

Stuart Pearcey
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British Steel wins renewal of third party certification
Aginst the backdrop of plans to axe cokemaking at its Scunthorpe site and shed about 250 jobs, British Steel has won third-party recertification for a wide range of its business activities – including investment schemes, Low-Carbon Roadmap and employees – after a rigorous assessment against a prestigious quality mark. The company has been recertified to ISO 9001:2015 Quality Management Systems, which also covers Construction Products Regulations and National Highways Sector Scheme 3B. Paul Smith, British Steel’s Business QA & Standards Manager, said: “The ISO 9001:2015 standard is the best-practice quality management framework. It’s an important standard to achieve as it provides independent evidence of our ongoing commitment to provide a high level of service to both customers and suppliers.” To satisfy the strict audit requirements, the company was required to demonstrate an effective quality management system compliant with all sections of the standard. The team of five LRQA auditors covered sites in Scunthorpe, Teesside, Skinningrove, Darlington, Rotherham, Immingham and Lisburn, and looked in depth at the processes and systems used in our wide-ranging operations. They covered all operational and functional disciplines including ironmaking, steelmaking, mills and our support functions too. And having been reaccredited, British Steel now moves on to LRQA’s normal surveillance programme, which comprises 12-monthly surveillance visits, with the full audit repeated in 3 years’ time.

Next stage of works to begin in transformation of Leeds City Rail Station

Tess Egginton
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Next stage of works to begin in transformation of Leeds City Rail Station
The next stage in the transformation of Leeds City Rail Station’s main entrance and surrounding area will begin next month (March).
The Leeds Station Sustainable Travel Gateway scheme will create a much-improved and more people-friendly environment which can accommodate growing rail passenger numbers, and ensure people can enter and exit the station safely. A total of £46.1 million is being invested in the scheme, which is being delivered by Leeds City Council on behalf of Network Rail as the landowner, and in partnership with the West Yorkshire Combined Authority. Advance works and preparations have been underway since last May, and major improvement work from early March will include:
  • Pedestrianising New Station Street, including the section which meets Boar Lane, with outdoor seating and rest areas, and landscaping.
  • Relocating the existing taxi rank to Bishopgate Street where there will be a large and well-lit shelter and room for six vehicles, also allowing for kerb-side boarding which will help people with wheelchairs or assistance dogs to board more easily.
  • Two 21-passenger lifts from Bishopgate Street to the station entrance on New Station Street, providing step-free access between the two streets.
  • A high quality cycle hub at the station, which will include electric charging points and storage for all types of cycles.
  • Environmental improvements to Neville Street and Dark Neville Street including enhanced lighting, road surface and pavement and elevation treatments.
  • Installing high quality cycle infrastructure on Bishopgate Street and Neville Street, and improvements to cycling infrastructure in surrounding communities.
Since securing planning permission for the scheme, Leeds City Council and Network Rail have been working together to combine the Sustainable Travel Gateway scheme with a separate project which will see Network Rail reinforce the underground structure below New Station Street which supports much of the station above it. Delivering the two schemes in tandem will mean less disruption in the long-term and also reduces the need to revisit the Sustainable Travel Gateway scheme at a later date if further works are required as part of Network Rail’s scheme. What’s next In May, as part of Network Rail’s scheme the taxi rank will be moving to Princes Square. Network Rail are currently liaising with private hire and hackney carriage services with details of the arrangements. May will also see the northern section of New Station Street from the station’s main entrance towards City Square closed to vehicles (except service vehicles and emergency services) and pedestrians to allow paving works to be carried out. Pedestrians will still be able to walk towards Boar Lane from the main entrance, or use the station’s northern entrance. The full programme of improvements including the Sustainable Travel Gateway Scheme and the Network Rail works is due to be completed by September 2025. Cllr James Lewis, leader of Leeds City Council, said: “We are delighted to begin these improvements in earnest, creating a gateway to our city that meets the current and future needs of everyone who uses the station. “Our railway station plays a key role in the North of England’s rail connectivity, so it is vital that we provide a much better experience and capacity for station users as we prepare to welcome further investment in our region’s rail network including the Transpennine Route Upgrade and Northern Powerhouse Rail.” Cllr Helen Hayden, Leeds City Council’s executive member for infrastructure and climate, said: “These works complement our ongoing transformation of City Square and will create a safer and people-friendly environment, not only improving access to the station but also building better links between the existing city centre and the wider South Bank.” Tracy Brabin, Mayor of West Yorkshire, said: “Leeds City Rail Station is one of the busiest in the country – it’s a gateway to a vibrant city, as well as many destinations across our region and beyond. “Growing our economy, connecting more people with opportunities and tackling the climate emergency are at the heart of making West Yorkshire an even better place to live and work, and these improvements are key to that.” Matt Rice, North and East Route Director for Network Rail, said: “It is fantastic to see that the next stage of this transformation to the front of Leeds station will get underway next month, and we are pleased to be working in partnership with Leeds City Council and the West Yorkshire Combined Authority on this scheme. “There is a huge amount of investment going into the railway both in Leeds and across the whole of the North at the moment, this scheme included. Transforming Leeds station with accessibility improvements and a better cycling infrastructure will be great for everyone who uses the station, and delivering the two schemes together will reduce any impact on passengers.” The works are being delivered through the Combined Authority’s Transforming Cities Fund programme, which is aimed at making it easier for people to walk, cycle and use public transport. The works are the first stage in the Leeds Integrated Station Masterplan – the vision of Leeds City Council, Network Rail, the Combined Authority and partners to transform the Station into a world class hub at the heart of the UK’s rail network, accommodating current and future demand for rail travel and acting as a catalyst for wider regeneration in the south of the city centre.

Acquisitive education recruitment specialist swoops for Lancashire business

Tess Egginton
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Acquisitive education recruitment specialist swoops for Lancashire business
Operam Education Group, the BGF-backed education recruitment specialist, has completed the latest in a series of acquisitions, as part of its buy-and-build strategy. The Barnsley company has acquired Lancashire-based Bridge Education Recruitment in a deal supported by BGF. Bridge Education, founded in 2014, is the second acquisition by Operam in the last 12 months and continues the management team’s growth strategy. Following the acquisition, Bridge Education co-founder and director, Sharon Bridge, will remain with the business. Operam CEO Eddie Austin said: “The acquisition of a trusted brand like Bridge Education is another important step forward for the business. The company has all the attributes we look for and fits perfectly with Operam – not only strategically and culturally, but also from a geographical perspective. “We have an extremely strong pipeline of acquisition targets and we’re confident our approach will enable us to continue to expand, not just across our established regions, but into new geographies as well.” Last year, BGF committed a further £2.5 million in follow-on funding to support Operam’s buy-and-build growth strategy, alongside £2.5 million of senior debt from HSBC. An additional £2.5 million of equity funding has also been committed to support future acquisitions which will take BGF’s total investment in Operam to £9.5 million. BGF investor Rob Johnson added: “We’re delighted to be supporting Operam’s latest acquisition – the fifth since BGF first invested in the business in 2019 – and look forward to welcoming Bridge Education into the Operam family. “Having worked closely with Eddie and the team over the past four years, it is great to see the business continue to successfully execute against the original plan we backed. With a strong pipeline of acquisition targets, established systems and processes and further committed funding from BGF, all the ingredients are there for Operam to continue on its successful growth journey.”

Demolition paves the way for multimillion-pound Leeds student development

Tess Egginton
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Demolition paves the way for multimillion-pound Leeds student development
Development specialists Urban Group (York) Ltd has completed the demolition work at 26-34 Merrion Street and has now commenced on the foundations of the circa £15 million nine-storey Straits Aire student accommodation scheme in Leeds. The 32,000 sq ft (2,898 sq m) building will provide 88 boutique en-suite studios, including four rooms designed for those with disabilities and two premium suites. With on-site facilities including a cinema, gym, lounge, event, dining and breakout study space and laundry facilities, it is expected to appeal to students seeking high specification accommodation. Straits Aire is being delivered by Urban Group’s Construction Division, which specialises in buy-to-let residential and student accommodation, and will complete in summer 2024. Q Investment Partners (QIP) closed on the circa £15 million deal last year, and this transaction forms part of a larger institutionally-backed student housing fund. The circa £150 million portfolio managed by QIP comprises some 1,000 bedrooms around the UK, from Edinburgh to Greater London. Craig Stevens, construction director at Urban, said: “This is a challenging site in a constrained city centre location. With careful management we are on schedule and there has been lots of interest as the building starts to emerge. “We are working with a fantastic team of sub-contractors and have established a variety of work and training opportunities in the city as part of the development. “Ultimately, it will be great to bring this site back into use and deliver some fantastic studio apartments close to the city’s universities as well as shops and leisure outlets, bringing a boost to Leeds’ economy.” Working with a team of established sub-contractors, demolition work of the former derelict bar completed in January 2023, paving the way for a nine-week programme of foundation and groundwork. The tower crane will be established on site to commence steelwork. Urban will also deliver the fit-out up to practical completion of the building in July 2024. Designed by Brewster Bye Architects, it will be operated by Prestige Student Living, the premium brand of Homes for Students, and it will have a manned reception facility.

Despite soaring energy costs, only 29% of UK manufacturers consider net zero to be a priority

Tess Egginton
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Despite soaring energy costs, only 29% of UK manufacturers consider net zero to be a priority

Energy prices are negatively impacting the majority of UK SME manufacturers, according to the latest Manufacturing Barometer survey by SWMAS. But, with the government’s ambitious target to achieve net zero by 2050, are SMEs on course to succeed?

This quarter’s statistics indicate half of respondents (51%) see net zero as a positive expansion for UK manufacturing. However, less (42%) are confident this will actually be beneficial for their individual business.

Almost three quarters of manufacturing firms have said they are already working towards net zero (73%), although only a very small number of these businesses (2%) actually know the carbon footprint for the products they supply, and just 3% have a detailed carbon footprint ready for their organisation. 50% of manufacturers have started, but are yet to formally establish any metrics, and an additional 23% have so far only attained a basic carbon footprint for their organisation.

Nick Golding, Managing Director at SWMAS, says: “Profitability remains a challenge for most firms, particularly with the current energy crisis which is showing no signs of waning. It is understandable that for most, implementing the new net zero standard isn’t a priority with other challenges being faced, particularly when planning and implementing a scheme to neutralise their carbon footprint will cost additional time, resources and money.”

Only 37% of respondents have actually taken a pledge for their business to achieve net zero but, encouragingly, three quarters of these firms aim to reach this at least 10 years before the government’s 2050 target. On the other hand, over 70% of the firms questioned reported that the transition to net zero is not a current priority for their business.

There are still many barriers being faced by manufacturers dominating their current and future business focuses. As many as 64% do not think the benefits outweigh the cost of implementing low carbon improvements and almost half (44%) have said there is nothing driving them to prioritise net zero over other issues in the business. This is further backed up by the fact that over three quarters of responding businesses said none of their customers have asked them to provide their carbon footprint data.

How will carbon footprint credentials benefit UK manufacturers? Almost half (48%) have said they think being able to promote their net zero ambitions will help them win future work. Furthermore, 27% believe this would attract potential employees at a time when the competition for skilled workers is at an all-time high.

Nick adds: “These findings indicate some optimism from UK manufacturers despite the ongoing challenges around price increases, supply chain disruption, and skills shortages. It’s clear that many firms see the benefits of achieving net zero, but there are a number of challenges that could be preventing their progression.

“There are lessons for policymakers to consider, particularly in relation to simplifying planning requirements for onsite energy systems such as solar and wind as well as incentives for these technologies to support the manufacturing transition towards a net zero future.”

Malton Enterprise Park reveals new office development

Tess Egginton
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Malton Enterprise Park reveals new office development
Malton Enterprise Park in North Yorkshire has unveiled a brand-new office development in the heart of the park. Harrison Developments LLP, the owners and developers of the park, strategically located next to the A64, are including a high-quality conference facility within the development. The offices, which range 1,350 sq ft to 4,050 sq ft, will be available on a leasehold or freehold basis with flexible terms at the end of April. They will be fully air-conditioned with electric vehicle charging points and spacious parking. Sean Harrison, Managing Director of Harrison Developments, explained: “We are tremendously proud of this new office development, as well as what we have achieved elsewhere on the park. “It was always our intention to provide some high-quality office space on site, together with the industrial and commercial development which has already been completed. “During the past two years, our enterprise park has been transformed and is now very much a business community with existing and new clients using each other’s services on a daily basis. This mutual co-operation is incredibly beneficial and is really appreciated by our occupiers and business owners. “When we began work on site, we really wanted to create this environment and make the park an enjoyable, as well as a productive, place to work. “With this in mind, we are planning to include a 650 sq ft conference facility at the heart of our new office development, which can be rented on a hourly or a daily basis. We see this as a perfect solution both for businesses on site and in Malton itself, who are wanting flexible space for a variety of uses. “These uses could be for staff training, one-off meetings, retirement celebrations and this space has kitchen facilities for tea and coffee and sandwiches etc and is completely private from the other offices within the new development.” Sean added that he felt this could be a very popular conference venue, as there was nothing like it in Malton itself.

Yorkshire business confidence rebounds

Tess Egginton
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Yorkshire business confidence rebounds
Business confidence in Yorkshire rose 22 points during February to 34% – 13 points higher than the UK average – according to the latest Business Barometer from Lloyds Bank Commercial Banking.  Companies in Yorkshire reported higher confidence in their own business prospects month-on-month, up 17 points at 37%. When taken alongside their optimism in the economy, up 29 points to 32%, this gives a headline confidence reading of 34%.   Yorkshire businesses identified their top target areas for growth in the next six months as evolving their offering (42%), hiring new employees or investing in training (38%), and diversifying into adjacent markets or exporting to new markets (36%). The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.A net balance of 41% of businesses in the region expect to increase staff levels over the next year, up 15 points on last month. Overall UK business confidence decreased by just one point to 21% in February. Firms remained positive about their own trading prospects with a net balance of 31% expecting business activity to increase in the coming 12 months. Firms also reported plans to create new jobs with 20% of businesses intending to make new hires over the next 12 months – up three points from January. All UK regions and nations reported a positive confidence reading in February, with six areas reporting a month-on-month increase in confidence. Of those, the West Midlands (up 30 points to 48%) and Yorkshire and Humber saw the largest monthly increases. Steve Harris, regional director for Yorkshire at Lloyds Bank Commercial Banking, said: “It’s fantastic to see business confidence in the region has risen again with firms reporting the highest levels of overall confidence since May last year. “Economic headwinds persist, but it’s encouraging to see that businesses are showing resilience and going after ambitious growth plans to boost their own trading prospects.    “We’ll continue to stand side by side with businesses as they focus on opportunities for growth over the coming months.” Retail confidence bounced back, rising for the first time in three months to 21% (up 14 points), led by improvements in both trading prospects and economic optimism. However, business confidence fell in construction (down eight points to 19%) and services (down five points to 20%) although this remains higher than in the latter part of 2022. Hann-Ju Ho, senior economist for Lloyds Bank Commercial Banking, said: “Business confidence has lost a little momentum this month, following the strong gains seen recently. Firms are feeling more cautious about the wider economy. However, confidence in their own trading prospects continues to strengthen, helped by tentative signs that wage and other cost pressures may be reducing. “While inflation appears to be tapering, pressures on consumers will need to ease further to help make it a more stable environment for businesses to operate.”

Former apprentice rises through the ranks to become Managing Director at Integra Buildings

Michael Fisher
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Former apprentice rises through the ranks to become Managing Director at Integra Buildings
Former apprentice Chris Turner has been appointed as the new Managing Director of modular construction specialist Integra Buildings. Mr Turner, who joined East Yorkshire-based Integra as an apprentice, has progressed over 20 years from an entry level role to now take on day-to-day leadership of the fast-growing business. Having been promoted from Commercial Director, he will take the company forward with a strong pipeline of projects and ambitious growth plans. Former MD Gary Parker, who co-founded Integra 25 years ago, has become CEO in the restructure, with a new remit to focus on strategic opportunities. Mr Parker has led the development of the company from a start-up business employing a handful of people to a significant employer in the Humber region, delivering high-profile, multi-disciplinary projects across the UK. Based at Paull, east of Hull, Integra employs 160 people and provides a range of modular and anti-vandal solutions for sectors including construction, education, health, sport and commercial. Mr Turner, who is 42, has been named as MD just weeks after Integra became one of fewer than 30 companies to be named on a new £10bn government framework to drive investment in modular and offsite construction. Being appointed as a supplier on the Offsite Construction Solutions framework means Integra can tender for significant public sector projects across the education, justice and defence sectors, creating a strong pipeline of work for the company over coming years. Mr Turner said: “Becoming Managing Director is not something I could ever have expected when I joined the business 20 years ago, but I’m excited to take on the challenge. “It’s also great that I will still be working closely with Gary in his new role. We have a shared vision for the further growth of the business and the continued evolution of our products. “The modular construction sector has seen phenomenal growth over recent years and we’ve grown at an even faster rate. We see no reason for that to change, because modular building has so many advantages over traditional construction and is inherently more sustainable. “We’re very well placed to continue to out-perform the market with our excellent team, strong pipeline of projects and exceptional track record of project delivery.” Mr Turner studied Mechanical and Manufacturing Engineering at Humberside University before joining Integra in 2003 as an Apprentice Technical Draughtsman. He became Estimating Manager and Commercial Manager before being appointed as Commercial Director in 2012. Since then, Integra’s turnover has trebled from £14m to £42m in 2022. Mr Turner joined Mr Parker and Paul Tansey as a shareholder in the business last year, ahead of the planned leadership restructure. In his new role as CEO, Mr Parker will remain fully committed to the business and focus on strategic developments, opportunities to extend the scope of the business, and potential acquisitions. He will also lead a project to expand the Integra site at Paull, to create more production and storage space to support the company’s growing project portfolio. Mr Parker said: “This feels like the right time to hand over the day-to-day running of the business to Chris and to reward him for the outstanding contribution he has made to our growth and development. “Chris brings proven capability and commercial expertise to the role. He is loyal, hard-working, experienced and also highly respected, within the business and outside it with our clients and partners. “We’re proud that a homegrown talent has become our new MD. It’s a brilliant demonstration of our commitment to developing our people throughout the business and giving them the opportunity to grow with us.” With Mr Parker now CEO, Mr Turner is supported as MD by fellow members of the senior leadership team – Safety, Health, Environment and Quality (SHEQ) Director Paul Tansey; Operations Director Jim Butler; Technical Director Mike Marriott; and Finance Director Sarah Marshall.
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