Hull gets £120k grant to explore barriers to training and employment amongst the young
Hull City Council, The Warren, and Humber Learning Consortium have been successful in securing £120,000 grant funding from the Youth Futures Foundation.
The money will be used to undertake research into the mismatch between the high number of apprenticeship vacancies and job vacancies locally, compared with the high number of young people not in employment, education or training.
Hull is one of seven areas to receive a part of £16million for the research, which will last 18 months.
The Connected Futures research programme will be led by young people, and aims to join up multi-agency support for young people.
Councillor Linda Tock, Portfolio Holder for children’s services said: “I’m pleased Hull is to benefit from this funding and research. We hope that through the Connected Futures programme we can address barriers to employment for young people, through connected and consistent support that they need to get good jobs in the city.”
Danni, a young person at The Warren, said: “It’s great news. When we – as a group of young people – sat down with Youth Futures and told them how it was, it felt like it really hit home, it felt real – that we were heard and that we were trusted to know best about the reality of how it is for us.”
Back with a bang: Hospitable Boost programme returns for Autumn 2022
Business Lincolnshire are running their popular hospitality programme for businesses across Greater Lincolnshire and Rutland again this October!
As part of Business Lincolnshire’s Growth Hub offer, the programme will be delivered over a 7-week period, with a combination of group sessions and one-to-one support providing a flexible schedule for business owners.
The fully-funded bespoke programme will be delivered by specialist consultancy firm CDI Alliance, offering delegates the chance to network with like-minded businesspeople from the hospitality and tourism sector.
Cllr Colin Davie, executive councillor for economy and place at Lincolnshire County Council, said: “Greater Lincolnshire and Rutland has a high-quality and varied offer for tourists – covering city, coast and countryside. The visitor economy sector is currently estimated to be worth over £2.39bn per year to the Greater Lincolnshire economy, supporting at least 30,000 full time equivalent jobs.
“Tourism is growing and is one of the most important growth sectors for our region. Whether you’re a sole trader with a permanent team or a long-standing family-owned business employing casual and seasonal staff, this intensive programme will be adapted to suit your individual support needs. It’s a fantastic programme and not one you want to miss out on!”
With limited places available, any business interested in joining the programme should sign up to the ‘Tell me more’ sessions to find out more about the support on offer. These online sessions will take place between 10:30 – 11:00 on a number of dates next month, listed below:
- Tuesday 13th September
- Thursday 15th September
- Thursday 22nd September
- Tuesday 27th September
360 Accountants appoints second Senior Corporate Portfolio Manager
360 Chartered Accountants has named Natalia Prasal as its second Senior Corporate Portfolio Manager.
She has 10 years’ experience in all aspects of accounting and finance in both practice and industry, as well as specialising in automating accounting processes.
MD Adrian Hunter said she is a great addition to the 360 team. “We are building an exceptionally talented team here and she will be a huge asset. She brings real energy and enthusiasm to the role, as we continue to grow our business across Hull, York and the surrounding areas. Our clients deserve the best possible service and engagement. That is always our primary focus.”
As well as proactively managing a portfolio of corporate clients, Natalia will lead her own team of accountants and apprentices, developing their skill set and actively mentoring them as part of their professional development. She said: “I’m very excited and motivated to be a part of such a driven and innovative company with amazing core values. 360 is constantly achieving great things, with many growth opportunities ahead both for the firm and for our individual career paths. I’m looking forward to developing my own professional skills and contributing towards any improvements in the automatisation of processes.”
Regional locations announced as part of carbon capture programme rollout
A number of projects in our region have been shortlisted by the Government for the next stage of its carbon capture programme, which will attract funding.
They include: Killingholme, Keady 3 power station,, Hydrogen to Humber at Salted, and both Phillips 66 and the Lindsey Oil Refinery. Their selection is said to represent an important step towards a net zero economy. The UK has one of the largest potential carbon dioxide storage capacities in Europe, making it one of the most attractive business environments for CCUS technology. This is thanks to an unrivalled asset – the North Sea, which can be used to store captured carbon under the seabed. The UK government’s commitment to support CCUS UK-wide could help to create 50,000 skilled jobs in the UK by 2030.
Today’s shortlist follows the commitment in the Prime Minister’s Ten Point Plan for a Green Industrial Revolution,
It’s intended to create CCUS in two industrial clusters by the mid-2020s, and a further two by 2030. These clusters will support the government’s ambitions to decarbonise industry and put the UK at the forefront of the growing carbon capture market. In November 2021, the HyNet cluster in North West England and North Wales, and the East Coast Cluster in the Teesside and Humber were selected as Track 1 clusters, for deployment by the mid-2020s. These clusters will be the first to be considered for support under the government’s CCUS Programme, which includes the £1 billion CCS Infrastructure Fund (CIF).
The shortlisted projects will now also be considered for government funding support to join one of these clusters, to use carbon capture technology to help decarbonise their businesses.
Leeds sets out ambitious plans in bid for over £100m of levelling up funding
Leeds City Council has submitted six constituency bids totalling £120.8 million as part of the round two Levelling Up Fund to deliver transformational change for communities across Leeds.
The ambitious proposals would, if successful, allow the council to deliver on the government’s levelling up agenda building on the Morley town deal and connecting West Leeds funding through investment in parks, transport infrastructure, high streets, and local economies across the six city’s parliamentary constituencies, that have not yet received levelling up or towns deal funding.
The submission of six separate bids to the round two Levelling Up Fund reflects the significant commitment within the council to deliver transformative change, benefiting communities across the city.
In total, the ambitious plans could deliver £186 million worth of investment, including a £8.7m match funding contribution from Leeds City Council and a further £56.3 million from partners and grants, designed to deliver economic growth, address health and wellbeing inequalities, and transform pride of place in communities.
In Leeds Central, the bid aims to deliver transformative change in Holbeck that will renew essential local infrastructure, transform the local community centre, deliver high quality public realm and green space enhancements, and deliver green retrofit property repairs.
The bid for Leeds West will deliver quality greenspace enhancements across five community parks, enhance active travel connections, and deliver a revitalised high street in Armley that prioritises public transport and pedestrians with new quality public realm improvements.
Redevelopment of the existing Fearnville Leisure Centre into a 6000 m² wellbeing centre forms the focus of the bid in Leeds East, allowing for the revitalisation of a rapidly deteriorating facility to serve some of the most deprived communities in Leeds.
In Elmet and Rothwell, the bid delivers a series of linked habits in a coherent connected corridor activating the River Aire. This includes the creation of a much needed new visitor welcome building at the RSPB St Aidan’s nature reserve.
For North West Leeds a package of two intrinsically linked projects have been submitted as part of the bid, which will invest in transport infrastructure to accelerate the delivery of and unlock the benefits of the 90 acre North West Leeds employment hub site.
Finally, in North East Leeds the bid aims to prioritise sustainable transport options through a new park and ride site and the provision of high-quality segregated walking, cycling, and dedicated bus infrastructure along one of the main corridors, better sustainably connecting North East Leeds with the city centre and relieving the communities along the corridor.
Councillor Helen Hayden, executive member for infrastructure and climate, said: “The six bids that we have submitted to the Department for Levelling Up, Housing and Communities, offer a unique opportunity for the department to deliver meaningful transformation, driving economic growth forward and tackling health and wellbeing inequalities.
“As a council we are committed to working with the government on all six projects to help transform local areas and I believe all six projects will if successful make a real difference to residents across Leeds.”
Councillor James Lewis, leader of Leeds City Council, said: “We have put together six ambitious bids and they represent a real opportunity to build on the great work taking place across Leeds to regenerate our local communities, delivering 21st Century infrastructure and create meaningful jobs.
“The scale and ambition of the bids also reflect the incredible amount of work put into their development and I must extend a sincere thank you to teams from Asset Management and Regeneration, Highways and Transportation, and Parks and Countryside along with their partners and consultants.”
The bids will now be evaluated by the Department for Levelling Up, Housing and Communities, with bid outcomes expected to be announced alongside the Autumn statement.
Industrial electricity users could get further help with energy bills
Businesses like steel and paper mills that use a lot of electricity could see further relief under new proposals to help subsidise energy costs.
The government is consulting on the option to increase the level of exemption for certain environmental and policy costs from 85% of costs up to 100%.
This reflects higher UK industrial electricity prices than those of other countries including in Europe, which could hamper investment, competition and commercial viability for hundreds of businesses in industries including steel, paper, glass, ceramics, and cement, and risk them relocating from the UK.
The proposal would help around 300 businesses supporting 60,000 jobs in the UK’s industrial heartlands. Looking at ways to reduce the cost of doing business for key industries would help secure the future of domestic manufacturing and maintain a competitive business environment in the UK, ensuring economic growth and protecting thousands of jobs across the country.
The Energy Intensive Industries Exemption Scheme provides businesses with relief for the costs of renewable levies, including Contracts for Difference, the Renewable Obligation and Feed in Tariffs, in their energy bills.
Business Secretary Kwasi Kwarteng said: “British manufacturers are the lifeblood of our economy and central to our plans to overcome this period of economic uncertainty.
“With global energy prices at record highs, it is essential we explore what more we can do to deliver a competitive future for those strategic industries so we can cut production costs and protect jobs across the UK.”
Director General of UK Steel Gareth Stace said: “The publication of this consultation is a significant step forward in delivering competitive electricity prices for the UK steel sector and should provide some much-needed relief in the face of extremely challenging circumstances at the current time. While there remain difficulties, this announcement demonstrates that UK government understands the challenges of British industry and continues to support steelmakers and steel communities across the country.” The government has provided more than £2 billion to support businesses in energy intensive sectors with the price of electricity bills since 2013. The launch of the consultation follows the extension of the separate but similar Energy Intensive Industries Compensation Scheme for a further 3 years and a more than doubling of its budget. The compensation scheme provides businesses with relief for the costs of the UK Emissions Trading Scheme and Carbon Price Support mechanism in their electricity bills.Lincolnshire LEP seeks Manufacturing Board members
The Greater Lincolnshire LEP has added its Manufacturing Board to the list of groups it needs new members for.
The LEP is looking for leaders in manufacturing to join the Board as ambassadors for the industry and to represent the sector across Greater Lincolnshire, including as Chair and Vice Chair.
Board member David Talbot of Catch UK said: “As a member of the Greater Lincolnshire LEP Manufacturing Board, I have been impressed by how the group has been a driving force behind supporting the manufacturing industry in the region.
“It has been so much more than a group that meets and networks, as it actually delivers. The board has provided support to some fantastic initiatives such as the University of Lincoln-led Greater Lincolnshire Engineering and Manufacturing network group and the Lincolnshire Institute of Technology among many others.
“This support can only enhance and improve the manufacturing base in our region. As the CEO of an industrial membership and skills organisation in the Humber it’s great to be able to bring a knowledge base to this board from our members with the aim of championing manufacturing across Greater Lincolnshire.
“We particularly welcome applications from female candidates and candidates from diverse backgrounds.
This role is voluntary and will involve attending four meetings per year, currently being hosted virtually. Occasional presentations to the LEP Board may also be required. Further information from Amy O’Sullivan at the LEP – amy.o’sullivan@lincolnshire.gov.uk
FSB outlines help it wants government to give to small firms
Calling for help for small businesses on energy bills, a reversal of the National Insurance hikes, a VAT cut, a reduction in fuel duty, and rooting out the late payment crisis, FSB National Chairman Martin McTague said: ““The estimated fall in the headline GDP measure in Q2 is unwelcome but unsurprising news for small firms, whose confidence nosedived over the quarter, according to our research.
“The 0.2% real-terms fall in household consumption despite rises in outlay on housing and travel is a flashing alarm for small businesses, many of whom rely on consumer spending.
“With levels of fuel poverty skyrocketing, fuel costs far higher than they were in the same quarter last year, and rent costs rising steadily, there is less left in people’s pockets for holidays, new clothes, meals out, and other discretionary spending, leading to lower sales for many small businesses.
“The 1% fall in the wholesale and retail trade over the quarter is deeply concerning, with supply chain disruption causing huge headaches and extra expense for businesses.
“Small firms were also hammered over the quarter by rising taxes. The National Insurance hikes in April have piled more financial stress onto the cost of running a business, at a time when inflation has spiked to a four decade high.
“We have been urgently drawing attention to the cost of doing business crisis for months now, as our members tell us that they are struggling to keep up with ever-rising costs – producer input prices rose by 24% in the year to June 2022, the highest level registered since records began in 1985.
“Adding in the recent jump in the base rate, which means a higher cost of borrowing for many kinds of commercial and personal debt, and which will dampen consumer spending, there’s little sign of any relief coming any time soon.
“There is no excuse for the Government to sit on its hands, with the very survival of thousands of small businesses at stake, and a recession looming.
“Today’s figures must be a wake-up call to policymakers that urgent intervention is needed.
HullBID food events boost turnover for trades as thousands flock to take part
HullBID’s summer of food celebrations brought thousands of people to the city’s Fruit Market area as the third of this year’s Hull Street Food Nights was followed by the return of the Yum! Festival of Food and Drink.
Traders taking part in the back-to-back events were inundated with hordes eager to try cuisine from around the world, and non-food businesses, including those based permanently in Humber Street, welcomed the events as a huge boost for business and Kathryn Shillito, HullBID Executive Director, said there will be more to come.
Kathryn said: “The response to our events programme has been amazing and we will soon be announcing more attractions with particular emphasis on family fun. We are planning a big steampunk festival – a first for Hull – in October and we are in the process of organising some dinosaur street entertainment on Saturday 17 September.
“There’s also the fourth of this year’s Hull Street Food Nights still to come and we’re now working on ideas to pull in the crowds for Christmas and into 2023. With all of this we work closely with city centre businesses to ensure our events are proven crowd-pullers which deliver bottom-line benefits.
“The latest in our Hull Street Food Nights programme was another huge success and our first Yum! Festival since 2019 was phenomenal, featuring local businesses as well as a bit more variety from further afield and generating welcome trade for businesses in all sectors across the city centre.”
Caroline Birchall told how Yum! has helped her business, Laura’s Fudge, make an impact nationwide with an outlet at the Yorkshire Wildlife Park and as a supplier to major brands including Harvey Nichols and Selfridges.
Caroline said: “We do about a dozen festivals a year and we’ve been to Yum! four or five times. It’s the first one we’ve done in this part of the city. It’s a really nice area and it’s very busy.”
An additional attraction at Yum! was the Good Things Market which was launched in 2019 by the owners of Humber Street businesses Form and Plant & Paint and which returned last year.
The market, which will be back in Humber Street on Sunday 28 August, normally brings together about 40 traders with half coming from Hull and East Yorkshire and the rest from as far as Brighton and Edinburgh. For Yum!, the event featured 20 traders on the Friday and a different 20 on Saturday.
Lara Roberts, owner of Plant & Paint, said: “Our first market after Covid was summer 2021 and we did one in the winter and another in spring. This one is a special edition purely for Yum! and the next will tie in with Freedom Festival so we’re back with a bang!
“It has a really positive knock-on effect. People come here ready to spend money on indie businesses and it’s really good for the shops and the cafes as well.”
The final Hull Street Food Night this year will take place in Zebedee’s Yard on Thursday 8 September from 4pm until 9pm. It will feature many of the traders from the three previous events this year and the Yum! Festival, as well as a programme of live entertainment.
Reliance on overdrafts should worry SMEs, says accountancy firm
The value of overdrafts used by SMEs have grown 18% from £8.3bn in May 2021 to £9.8bn in May 2022 as financial stress in small businesses rises, says national accountancy group UHY Hacker Young.
James Simmonds, partner at the firm, says that the rise in overdraft use is concerning as overdrafts are rarely the most suitable form of lending for small businesses. The fact that they can be withdrawn with little notice by banks makes them a risky form of borrowing.
Interest rates on overdrafts are also higher than on some other forms of lending. The average interest rate charged on an SME overdraft was 4.3% in May 2022, compared to 3.2% for traditional term loans*. the rise suggests that some SMEs may be struggling to secure these more suitable forms of lending.
The increase in the amount borrowed by SMEs through overdrafts is a reversal of a decade-long trend of falling overdraft use. The value of small business overdrafts fell consistently over the past decade as businesses benefited from a benign economy and high consumer spending.
The availability of CBILS and BBLS loans during the pandemic also reduced the need for overdrafts among SMEs. James Simmonds says that some SMEs may now be using their overdrafts to make repayments on those loans.
Small businesses in the retail sector have increased their overdrafts by the largest percentage over the past year, rising 41% from £1.1bn to £1.6bn. As the cost of living crisis forces consumers to slow their spending, more small retail businesses have faced a cash flow crunch.
Manufacturers have also borrowed more heavily, with overdrafts in this sector increasing by 69% from £680m to £1.1bn between May 2021 and May 2022. Manufacturers are dealing with the rising cost of raw materials as well as labour and other overheads such as energy.
Says Mr Simmonds: “It is worrying to see small businesses relying more heavily on their overdrafts. Cash flows are coming under increased pressure – and that’s while interest rates are still relatively low.”
“As shoppers tighten their belts, retail in particular is feeling the squeeze. Some retailers have seen their margins eaten up by inflation and overdrafts are a vital lifeline for them.”
“The effects of the uncertainty are hitting manufacturers too. As the cost of raw materials continues to rise, small businesses have little leeway to absorb the rising costs other than by relying on their overdrafts to tide them over.”
