Bradford-based Business Enterprise Fund boosts regional economy by £64m

Stuart Pearcey
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Bradford-based Business Enterprise Fund boosts regional economy by £64m

A Bradford-based social enterprise has increased the value of the regional economy by £64m as the result of investing £16m in its businesses.

The Business Enterprise Fund, with its HQ in Bradford and offices across Yorkshire, Humber and the Tees Valley, has launched its latest social impact report which reveals it has helped create 396 UK businesses and generate or safeguard 1,885 jobs in the regions between 2022 and 2023, as well as adding six new investment managers to its roster.

Specialising in providing flexible finance to businesses who need it most – and those who have a positive impact on their community – BEF is a delivery partner for the government’s Start Up Loans Programme and, alongside Finance For Enterprise, delivers the Northern Powerhouse Investment Fund’s Microfinance Loans via the British Business Bank.

The social impact report also reveals that 66% of lending was to businesses within the most deprived areas of the UK while 490 loans were issued within the lowest 35% of LSOAs (Lower Layer Super Output Areas) in the Index of Multiples Deprivation.

Business services, retail, hospitality and construction were the industries which received the most investment, with retail and hospitality demonstrating growth of 58% and 21% respectively when compared to 2020-21, while £4.4m was invested in businesses run by young entrepreneurs (aged 18 – 35) and £5.7m invested in women led businesses.

CEO Stephen Waud said: “As a social enterprise it’s imperative our work leaves behind a positive impact; we want to change communities for the better through innovative use of finance.

“We’re incredibly proud to have invested £16m in businesses across the North – to have helped launch exciting new businesses and future-proof those who are already doing good in their communities. The impact of £64m to the regional economy is huge and a testament to our dedicated team who immerse themselves in clients’ businesses to help drive them forward.”

BEF is also celebrating a raft of new appointments with Antony Nicholson joining the North East team as investment manager while Grant Williamson joins as associate investment manager. The Humber team is further bolstered by Duane Walker, Gillian Pickard and Jane Cusse with the individuals working across BEF and Start Up Loans, alongside Abbey Bickerdyke who has joined the team as Start Up Loan Administrator and is based at the company’s head office in Little Germany, Bradford.

Stephen added: “Our report demonstrates the increasing need to provide responsible, flexible finance to businesses who aren’t receiving the help they deserve elsewhere. By growing our team of passionate investment managers, we’re strengthening our position in areas where we’re needed most to help budding entrepreneurs and well-established businesses alike.”

Huddersfield-based accountancy firm sold

Tess Egginton
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Huddersfield-based accountancy firm sold
Accountancy firm Revell Ward has been acquired by private equity-backed DJH Mitten Clarke in a deal overseen by KBS Corporate. Revell Ward offers a complete commercial solution, providing bespoke financial and business support services to companies and private clients across Yorkshire. The firm was founded in 2008 following a management buyout of Mazars’ office in Huddersfield and over the course of 15 years has cemented itself at the forefront of the regional financial sector. Revell Ward is managed by directors Karen Borowski, Jennifer Davies and Lesley Sutton, who instructed KBS on the sale of the business as part of the firm’s long-term growth strategy. Richard Stocks, Senior Research Analyst at KBS Corporate, managed the buyer outreach process and was excited to present the opportunity to the financial M&A space. “Revell Ward has a strong market presence and high-quality client base,” said Richard. “It was an attractive prospect for potential acquirers as a regional firm with a one-stop-shop service. “The company generated multiple offers that presented Karen, Jennifer and Lesley with varying valuations and structures. We were in a suitable position to positively negotiate and advise on different opportunities that could fulfil their eventual exit. “The financial M&A industry is observing increased private equity interest as major investors look to enter the market and consolidate.” The successful offer came from DJH Mitten Clarke, an award-winning accountancy firm with offices in Stoke-on-Trent, Chester, Leeds, Manchester and Walsall. DJH Mitten Clarke recently received backing from private equity investor Tenzing Capital, an investment specialist focused on high-growth SMEs in the UK and Europe. The acquisition of Revell Ward facilitates DJH Mitten Clarke’s long-term vision, benefitting from the synergies presented by high-quality regional firms while enhancing the organisation’s geographical reach. Scott Heath, CEO of DJH Mitten Clarke, said: “Our partnership with Revell Ward further strengthens our foothold in the North, ensuring clients across the region benefit from exceptional services and business advice. “Our aim is to further solidify our commitment to developing top accountancy talent through investment in training and providing tailored solutions that empower businesses to succeed.” Karen Borowski added: “The alignment of values between Revell Ward and DJH Mitten Clarke will ensure the seamless integration of our technology, services and teams. We are extremely excited about the future and the opportunities the partnership will create for both our team and our clients. “We are proud to be Huddersfield’s trusted accountancy firm and will remain at the heart of West Yorkshire’s business community.” Jay Singh, KBS Corporate Finance Director, who oversaw the sale, believes the professional services market is primed for consolidation, with KBS benefitting from strong relationships with key acquirers and investors. He said of the deal: “It was a pleasure to advise Revell Ward’s shareholders and see the business pass on to a larger group that secures the long-term future of the firm. “Whilst we generated significant interest and multiple offers, the key for this transaction, and identifying DJH Mitten Clarke as the preferred bidder, was to ensure the businesses were strategically and culturally aligned, which ultimately facilitates a smooth integration process.”

Approval secured to construct energy centre in Bradford

Tess Egginton
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Approval secured to construct energy centre in Bradford
1Energy, the company behind the £40m Bradford Energy Network, has reached a further milestone in its plans to deliver a low carbon future for Bradford with confirmation of planning permission for the construction and operation of its Energy Centre. The Energy Centre – which will be located on the southern section of a cleared site located at the junction of Thornton Road and Listerhills Road in Bradford city centre – is pivotal to the Bradford Energy Network. It will house the Air Source Heat Pumps that will offer low carbon heating for key buildings across the city centre, providing an alternative to current forms of heating which rely on burning fossil fuels and have a much higher carbon footprint. The Energy Centre will distribute heat through a network of underground pipes that connect to key buildings. The pipe network is already under construction. Supporting Bradford’s transition to net zero, it is said the Bradford Energy Network will offer the most cost-effective way for businesses and organisations in the city centre to decarbonise their heating and hot water. The project aligns with Bradford Council’s goal of being the UK’s leading clean growth district and achieving net-zero by 2038 (12 years ahead of the national target). Each building connected to the Network will see up to a 75% reduction in carbon dioxide emissions. It will also support the Council’s efforts to improve local air quality in its Clean Air Zone. When Phase 1 of the network is complete, there will be up to an 80% reduction in the emission of nitrous oxide – a gas known to contribute to a range of health issues, and to aggravate existing respiratory diseases such as asthma. Commenting on the planning approval for the Energy Centre, Jeremy Bungey, co-founder and director of 1Energy, said: “The Bradford Energy Network will be a landmark project not only for Bradford, but also the UK. Bradford will be the country’s first major city centre to have a low-carbon heat network that utilises an air source heat pump at this scale. “While the construction of the underground pipe network is already well underway, this decision will allow us to press on with the Energy Centre, which will be a statement building, designed to reflect the proud industrial heritage of the location. “We are delighted to have found this well located site from where we can deliver this key piece of low carbon infrastructure that will prove so vital to the future of the city centre. Investing in Bradford’s development is at the centre of our company’s aims. Delivery of the Network will continue to progress at pace and we expect construction of the Energy Centre to begin later this year with a planned completion date of late 2025.” 1Energy was also recently granted permission to make minor alterations to its Phase One Network Route, which will enable more organisations to connect to their buildings in the Network’s initial years of operation. The operation of the Energy Centre and the process of connecting customers to the network is expected to create five full-time and five part-time jobs in the area.

City expects more than 50 firms to attend digital careers fair

Stuart Pearcey
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City expects more than 50 firms to attend digital careers fair
A free digital careers fair hosted by Leeds City Council on September 26th will bring together more than 50 organisations including xDesign, Leeds City College, Cognizant, British Library, and BAE Systems.
In addition to having access to some of the north’s biggest digital employers, attendees can also speak to a range of training providers offering courses such as T-levels, apprenticeships, boot camps and degree courses. The event inspire zone will also host fascinating talks from industry leaders and have an interactive area for attendees to get involved throughout the day, offering insight into the vast range of digital career pathways. Whatever age, academic level or background, Leeds Digital Careers Fair aims to inspire and inform all visitors about the range of digital career opportunities available to them. Leeds City Council executive member for economy, culture and education, Councillor Jonathan Pryor,said: “As an innovative and forward-thinking city, the digital economy in Leeds is booming and full of opportunities. “With a wide range of companies and training providers and insightful talks from industry leaders, this year’s Leeds Digital Careers Fair is set to build on the success of last year in showcasing the many opportunities available in this fast-growing sector. “The event is free, and everyone is welcome, so I encourage anyone interested in a digital career to book tickets today.” The Leeds Digital Careers fair is part of Leeds City Council’s Future Talent Plan. The aim of Future Talent Leeds is to be influenced, created, and owned by the city and be adaptable and resilient to thrive in the face of change. The Leeds Digital Careers Fair takes place at the Leeds first direct arena on 26 September 2023, between 2 -7pm.

Yorkshire puts in a robust performance as insolvency-related activity increases across much of UK in August

Tess Egginton
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Yorkshire puts in a robust performance as insolvency-related activity increases across much of UK in August

As the economy continues to cool in the face of higher interest rates and sticky inflation, much of the UK has seen a double-digit increase in insolvency-related activity month-on-month, however, businesses in Yorkshire and the Humber remained stalwart with a rise of just 6% in August 2023.

The latest research from insolvency and restructuring trade body R3, which is based on an analysis of data provided by CreditSafe, shows that while insolvency-related activity again rose in Yorkshire and the Humber last month, the region saw less of an uplift since July than many other regions and nations with just 267 businesses affected here.

In August, there was an increase of more than 10% in insolvency-related activity (which includes liquidator and administrator appointments and creditors’ meetings) in the North East (+21.8%), the South East (+17.9%), Scotland (+16.7%), East Anglia (+14.9%) and Northern Ireland (12.5%).

In contrast, Yorkshire and the Humber, along with the South West, the North West, and the West Midlands saw a rise of around 6% since the previous month. The regions performing most strongly last month were the East Midlands (-19.6%), Wales (-11.8%) and London (-0.9%).

However, another indicator of economic wellbeing, the number of new businesses launching, showed a less rosy picture in Yorkshire and the Humber with a slight fall since July, from 4,452 to 4,367 (-1.9%) – the only region in the UK to see a drop in start-ups month-on-month.

Of the 12 regions and nations surveyed, those with the greatest month-on-month rise in new businesses were Northern Ireland (+15.8%) and Scotland (+13.5%), while the other nine all saw single figure increases.

Eleanor Temple, chair of R3 in Yorkshire and a barrister at Kings Chambers in Leeds, said: “There’s no doubt that businesses across the UK are feeling the impact of falling consumer spending and confidence as the economy continues to suffer the effects of higher energy and fuel costs, along with rising salaries.

“However, it is somewhat reassuring to see that businesses in Yorkshire and the Humber are among those proving most resilient with levels of insolvency-related activity lower here than in many other regions and nations.

“As we approach the winter, pressures are likely to continue with high interest rates continuing to push up debt repayments and stifle demand, increasing the likelihood of the UK entering recession.

“Directors must remain alert to the riskier economic environment in which they are operating and turn to insolvency professionals for expert advice as soon as any financial problems emerge.”

York invites employers to student apprenticeship taster

Stuart Pearcey
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York invites employers to student apprenticeship taster

City of York Councillors are inviting the city’s employers to sign up to showcase their businesses and inspire employees of the future at two, free, local events.

York employers will be able to meet their potential future workforce and share inclusive employment approaches with students with Special Educational Needs and their families on Wednesday 25 October at the annual Opportunities Event at Askham Bryan College between 3.30pm and 6.30pm. Employers are also being invited to ‘host’ year 11 students for a day on Thursday 18 January so they can experience a day in the life of an apprentice. Apprenticeship Taster Days are offered each year to help students understand the local jobs market and make the best possible decisions for their future. A total of 14 employers offered ‘taster days’ as part of the scheme last year and the council’s apprenticeship team is appealing for more businesses to get involved in 2024. Pete Kilbane, Deputy Leader of City of York Council and Executive Member with responsibility for Skills Development and Apprenticeships, said: “The annual Opportunities Event and Apprenticeship Taster Day are a great way for local employers to showcase their businesses to the next generation of York’s workforce. “Ensuring high quality skills and learning opportunities for everyone is a key priority and these popular annual events help match businesses with future employees who have the skills and positive attitude they need.” The deadline to get involved in these events is Monday 2 October. Employers don’t need to have vacancies in their workforce to take part.

Hornsea to get banking facilities after five banks agree to hub plan

Stuart Pearcey
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Hornsea to get banking facilities after five banks agree to hub plan
Five high street banks will operate from a new banking hub in Hornsea, which has been without banking provision since the closure of its last two bank branches in 2018. Barclays (Monday), Lloyds (Tuesday), HSBC (Wednesday) NatWest (Thursday), and Santander (Friday afternoons) will open for business at a banking hub at Unit 2, Newbegin, a site formerly occupied by Poundland. The hub will offer a counter service operated by the Post Office, where customers of all major banks and building societies can carry out regular cash transactions. It will also offer a Community Banker service, where customers can talk to their own banking provider about more complicated issues. Councillor Barbara Jefferson, portfolio holder for coastal communities, said: “With bank branches closing across the country, we must make sure people still have access to cash and banking services in their communities. “Not everyone has access to the internet, and even if they do, they may not wish to do their banking that way, so it is wonderful that we are now able to bring in-person bank services back for the people of Hornsea. “I am very much looking forward to this Banking Hub opening for the people of Hornsea and I’d like to thank everyone who has made this possible.” Gareth Oakley, CEO of Cash Access UK, said: “Following anticipation from the local community, I am glad that we are able to confirm the location of the forthcoming Banking Hub in Hornsea. The Banking Hub will greatly improve access to cash services for individuals and small businesses in the Hornsea community.”

Lincolnshire gets £2m to launch new raft of skills bootcamps

Stuart Pearcey
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Lincolnshire gets £2m to launch new raft of skills bootcamps
The Greater Lincolnshire Local Enterprise Partnership has been awarded £2m by the Department for Education to develop another wave of Skills Bootcamps in partnership with Lincolnshire County Council. There are courses available across a wide range of subjects including, electrical engineering, skills for the care sector, digital marketing, management and more. Skills Bootcamps are flexible training courses for adults lasting at least 60 hours. They can help learners fast track to a new job, take on more responsibility in their role or gain new contracts if they are self-employed. The courses are typically at level 3, 4 or 5. Employers can send members of staff onto a Skills Bootcamp to fill skills gaps within their business; in this case the courses are heavily subsidised with only a small contribution to pay. Employer can also help develop a Skills Bootcamp focused on the skills needs of your business or help out with existing bootcamps by offering interviews to the newly qualified people who have completed one of the courses. Two hundred and seventy-two learners attended previous Skills Bootcamps in Lincolnshire and Rutland and over 94% have taken on new or additional responsibilities within their current employment, or (where unemployed) have gained new jobs. Ewan Cruickshank, Technical Support Manager at Foodclean, took part in a Skills Bootcamp in Food Safety and Compliance and said: “The course was very helpful for anyone involved in food manufacturing or food production. “The facilities at the NCFM are fantastic and the breadth and depth of knowledge that the tutors have is absolutely phenomenal. I’d definitely recommend it 100%.” Simon Telfer, Chair of the LEP’s Employment and Skills Advisory Panel, said: “Thanks to our partnership with Lincolnshire County Council and funding from the Department of Education, we are able to offer a wide range of Skills Bootcamps that we hope will help to fill skills gaps in Greater Lincolnshire. “They will also help individuals upskill and take on more responsibility in their current role or gain the skills needed to fast track into a new role.” Most adults over the age of 19 who are living in England are eligible to take part in a Skills Bootcamp as long as they are prepared to take on a new job or new responsibilities.

Seafood industry boosted by Lincolnshire organisations’ research

Tess Egginton
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Seafood industry boosted by Lincolnshire organisations’ research
Two Lincolnshire-based organisations have joined forces to identify a fresh and sustainable approach to the freeze/thaw process of seafood produce, which could transform the global seafood industry. The University of Lincoln, UK, has partnered with New England Seafood International (NESI), through a Knowledge Transfer Partnership (KTP). Designed to link forward-thinking businesses with the expertise of academics, KTPs provide schemes to help organisations innovate and grow. This KTP project will research and develop a brand-new fish thawing process, combining ecological, environmental and sustainable business outputs. The UK seafood industry relies on a large quantity of frozen and raw ingredients as part of the food manufacturing process. Currently, seafood thawing remains an under-researched area of the food chain, bringing many costly processes relating to timescales, cost efficiencies and retention of produce quality. In addition to identifying new and sustainable practice in the seafood industry, the initiative will also aim to tackle the skills shortage gap. The project will be based at NESI’s North East Lincolnshire facility in Grimsby, and the team at NESI will have access to a team of the University’s industry experts at the National Centre for Food Manufacturing (NCFM), who will assist on the project and impart their knowledge and expertise. The KTP will use a blended approach across manufacturing and scientific disciplines, in which they will challenge established industry practise, advancing the understanding of the freeze/thaw process and creating opportunity for wider industry adoption. Martin Davies, Group Operations Improvement Manager at NESI, said: “New England Seafood are delighted to have the opportunity to work alongside the University of Lincoln to improve one of the most complex and critical manufacturing process steps. “The academic expertise the University will provide, combined with many years of seafood industry experience in New England Seafood, a recipe to optimise this process for the long-term in a balanced way, across people ergonomics, food hygiene, environmental, and operational efficiency factors.” Janey Bellamy, Associate Professor in Food Robotics and Process Automation at NCFM, said: “This is a great opportunity to challenge established industry practices and to advance the understanding of the freeze/thaw process with clear and validated data. This work will have a positive transformational impact on the food supply chain across multiple sectors.” The project is funded by Innovate UK and will last for 2 years.

Six join Drax at Selby as apprentice engineers

Stuart Pearcey
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Six join Drax at Selby as apprentice engineers
Six new employees have joined Drax Power Station at Selby to start a four-year apprenticeship to turn them into engineers. The apprentice engineers have won places on the technical apprenticeship scheme at Drax Power Station near Selby in North Yorkshire – the UK’s single-largest generator of renewable power, which produces enough renewable electricity for four million homes. The four-year programme gives new recruits the opportunity to gain expertise working alongside the world-class engineers at the plant. Drax Power Station has been transformed over the last decade as part of Europe’s largest decarbonisation project, swapping coal to generate renewable electricity using sustainable biomass. Drax has ambitious plans to go even further in the years ahead, aiming to become carbon negative by using bioenergy with carbon capture and storage (BECCS) technology. Its plans would see the site capture up to 8 million tonnes of carbon dioxide every year. Sean Barry, Head of Decommissioning and BECCS Operations, said: “It was fantastic to welcome our new group of apprentices to Drax Power Station. Providing these young people with the skills required for a successful career in engineering is not only essential to the success of our business, but it is also an incredibly rewarding part of what we do. “Giving our apprentices the opportunity to work on the cutting-edge, environmental technologies of the future will ensure we’re nurturing our in-house talent and creating opportunities for people here in Yorkshire to lead the green energy transition to net zero.”
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