Hull launches grants scheme for city’s SMEs
Hull businesses can apply for loans from Hull City Council through a small business loan scheme set up with a £1m pot of funds.
The Business Loan Scheme will be aimed at SMEs in the which have capital spend projects only, and will focus on what is known as syndicated lending, offering loans alongside other lenders.
Loans will generally range between £60-150,000, with loan terms between three and seven years.
Under the Business Loan Scheme, the LUP grant is not repayable, meaning funds will be available to support more businesses in the future on a ‘revolving basis’ following successful repayment of the loans, further facilitating business and economic growth in the city.
Cllr Paul Drake-Davis, the council’s portfolio holder for regeneration, said: “It’s great that the council is now able to offer these loans to small and medium sized businesses in Hull.
“The council is committed to supporting businesses of all sizes and this is another example of that, using the funding received from the government last year.
“It’s important that the Business Loan Scheme is managed carefully and diligently so it can grow and continue to provide financial support to local companies for many years to come.”
The initial Business Loan Scheme is open for applications until March 2025.
Lincolnshire IT support firm becomes part of Air IT
Lincolnshire IT support firm SCS is now part of Air IT, the Nottingham-based Managed Service Provider (MSP) for SMEs.
Matthew Stead, Managing Director of SCS, says: “We’ve spent the last 30 years developing and growing SCS into a successful regional business with an enviable local reputation.
“By joining Air IT, we’ll be able to offer additional technical expertise, skillsets and new exciting capabilities, whilst continuing to deliver the highest levels of service to our clients. We are very much looking forward to continuing our journey of growth and establishing Air IT as the IT partner of choice for SMEs in Lincolnshire and beyond.”
James Steventon, CEO at Air IT, said: “I’m delighted to welcome SCS to Air IT. They’re a great addition to our team, sharing a similar approach, culture, and a commitment to delivering exceptional service to clients.
“With a strong focus on our core services including managed IT support and Microsoft technologies, we’re looking forward to combining our joint knowledge, skills and experience to deliver even greater results for our valued clients.”
SCS will be operating from the same premises with the same staff as before.
FSB calls for changes to education system to protect small firms
With the development of Artificial Intelligence small firms need protection from deepfakes and improvements to the education system to allow it to live up to its true potential, a new report by the Federation of Small Businesses shows.
Redefining Intelligence: The Growth of AI Among Small Firms, published today, emphasises that while the technology can work in tandem with human intelligence and creativity, it should not replace human judgement entirely.
It also highlights the importance of Intellectual Property rights, over fears that allowing AI to sidestep IP could disincentivise small firms from coming up with new, creative ideas.
Figures show that small firms are adopting AI at a rapid pace, with one in five already using it, and 11 in 20 recognising its potential benefits. Similarly, three in five aiming for rapid growth plan to use it – but these figures are likely to grow rapidly as the technology gets smarter.
But while AI will bring many benefits, the risks must not be glossed over as the AI debate gains more traction, with the 73 per cent yet to embrace it worried about:
- 46% not having the knowledge to use it correctly.
- 31% their ability to manage security risks.
- 24% the impact of deepfakes.
- 20% the abuse of their IP rights.
- 12% whether it will reduce the long-term viability of their business.
- Make it illegal to use deepfakes with the intent to cause commercial damage, with legal recourse available for victims.
- Request the Law Commission conduct a review into the use of AI and how it relates to IP, and how best to update existing laws to make it clear that copyright can only sit with a human author.
- Broaden the remit of Ofcom so it regulates cloud infrastructure in the same way as utility providers, ensuring cloud infrastructure remains affordable.
Lincolnshire timber firm to be sold
Saint-Gobain has signed a binding agreement for the sale of its treated timber products (utility poles, fencing and railway sleepers) manufacturing brands.
Iivari Mononen Group is to take on Lincolnshire-based Calders & Grandidge, as well as PDM in Ireland.
The divested assets generated revenues of €50 million in 2023 and employ 80 people.
The divestment of PDM completed on 1 March, and the sale of Calders & Grandidge is expected to be completed by the end of 2024, subject to competition authority clearance.
Established for over 100 years, Calders & Grandidge is headquartered in Boston, Lincolnshire.
The company noted that the divestments “are part of Saint-Gobain’s continued business profile optimization strategy, in line with its ‘Grow & Impact’ plan.”
University of Bradford launches new programme to support SMEs
A £1.9m project aimed at giving SMEs access to scientific equipment at the University of Bradford has been set up.
Project SIBLING – Scientific Instrumentation for Business Leadership in Innovation and Growth – will aid the research and development of SMEs based in West Yorkshire through the use of advanced scientific instrumentation at the University of Bradford.
Firms will be given access to equipment in the University of Bradford’s Centre for Chemical and Biological Analysis and Advanced Manufacturing Laboratories in its Faculties of Life Sciences and Engineering and Digital Technologies.
The SIBLING project is being delivered by the University of Bradford and is part funded by the UK Shared Prosperity Fund. In West Yorkshire, the West Yorkshire Combined Authority leads the implementation of the Fund as part of the Mayor’s ambition to make West Yorkshire the best place to work, learn and live.
SIBLING will deliver 45 fully-funded research and innovation projects between September 2023 and March 2025. It will see SMEs given access to six cutting edge instruments including X-Ray diffraction, metal/composite 3D printing (additive manufacturing) and thermal analysis instrumentation.
Experts at the University of Bradford will offer help to participating SMEs with free research and innovation projects on its new and existing instruments. The services on offer in the project will also be tailored to the individual requirements of the participating firms.
Professor Richard Telford, Director of the Centre for Chemical and Biological Analysis at the University of Bradford, said: “We are targeting under-represented firms in the region, such as female and BAME-led SMEs.
“It is a brilliant opportunity for West Yorkshire SMEs to access equipment and expertise that we have at the University which will allow them to innovate. This in turn will hopefully see their companies develop new products and processes and provide a significant benefit to their operations.”
Dentists offered more government cash to take on NHS patients
Dental practices are being offered up to £50 extra for every new NHS patient they take on in the latest milestone in the government and NHS’s plan to make millions more dental appointments available.
The new patient premium will mean that participating NHS practices can benefit from payments of either £50 or £15, depending on care, for each new patient treated. This will apply for any patient who has not seen an NHS dentist over the past two years. The level of the payment will depend on the complexity of the treatment required and is on top of existing funding the practice receives for treating patients.
Through the scheme and wider measures in the dental recovery plan – which is backed by £200 million – the government and NHS aim to deliver an extra 2.5 million appointments for patients over the next 12 months.
The plan builds on existing work to improve access to dentistry, with the government investing more than £3 billion each year to support the sector. Last year, 1.7 million more adults and around 800,000 more children saw an NHS dentist compared to the previous year.
Health and Social Care Secretary Victoria Atkins said: “I want to make access to dentistry faster, simpler and fairer for patients – particularly those who have not been able to see a dentist in the past 2 years.
“This scheme is good for patients and good for dentists. It will see millions more appointments made available for those who need them, while also rewarding those dentists who are taking on new NHS patients.
“It’s all part of our plan to put NHS dentistry on a sustainable footing for the long term and ensure that good oral health is a reality for everyone.”
Sheffield gets £67m to build 1,300 new homes in two districts
Homes England has agreed a £67m funding package to support the creation of two new communities at Furnace Hill and Neepsend in Sheffield.
The funding will support vital land assembly and enabling works across five hectares of brownfield and underutilised land, enabling new homes and commercial space to be built, as part of wider regeneration activity.
Peter Denton, Chief Executive of Homes England, said: “This funding will kickstart the transformation of Furnace Hill and Neepsend, paving the way for 1,300 new homes and 4,000 square metres of commercial space, and, ultimately, the creation of two new vibrant communities.
“A core part of our remit is to use all the tools at our disposal to help places to achieve their vision for their area. Our work with Sheffield City Council over the last two years is a prime example of what this looks like in practice. We’ve worked in partnership with the council and other local stakeholders to create a viable action plan, and now we’re providing the funding to help make it happen.”
The proposals to transform Furnace Hill and Neepsend have been spearheaded by the Sheffield Together Housing Growth Board, which includes Sheffield City Council, Homes England, the South Yorkshire Mayoral Combined Authority, the Sheffield Property Association and the South Yorkshire Housing Partnership. Cllr Tom Hunt, Leader of Sheffield City Council, said: “This major investment will help to create two new city centre neighbourhoods on brownfield land. It will help to breathe new life into Furnace Hill and Neepsend and create great neighbourhoods with 1300 new homes.”Pace of AI adoption means Government and education system have to catch-up fast, say small firms
Small firms need protection from deepfakes and improvements to the education system to allow Artificial Intelligence (AI) to live up to its true potential, a new report by the Federation of Small Businesses (FSB) shows.
Redefining Intelligence: The Growth of AI Among Small Firms, published today, emphasises that while the technology can work in tandem with human intelligence and creativity, it should not replace human judgement entirely.
It also highlights the importance of Intellectual Property (IP) rights, over fears that allowing AI to sidestep IP could disincentivise small firms from coming up with new, creative ideas.
Figures show that small firms are adopting AI at a rapid pace, with one in five (20%) already using it, and 11 in 20 (55%)recognising its potential benefits. Similarly, three in five (60%) aiming for rapid growth plan to use it – but these figures are likely to grow quickly as the technology gets smarter.
But while AI will bring many benefits, the risks must not be glossed over as the AI debate gains more traction, with the 73 per cent yet to embrace it worried about:
- 46% not having the knowledge to use it correctly.
- 31% their ability to manage security risks.
- 24% the impact of deepfakes.
- 20% the abuse of their IP rights.
- 12% whether it will reduce the long-term viability of their business.
- Make it illegal to use deepfakes with the intent to cause commercial damage, with legal recourse available for victims.
- Request the Law Commission conduct a review into the use of AI and how it relates to IP, and how best to update existing laws to make it clear that copyright can only sit with a human author.
- Broaden the remit of Ofcom so it regulates cloud infrastructure in the same way as utility providers, ensuring cloud infrastructure remains affordable.
- Creating a GCSE and A-Level qualification in applied computing, that focuses on the practical use of AI.
- Specific new programmes to help make small business owners make the best possible use of AI in their business, including to better assess training and to make sure take-up of new technology is supported.
British Steel invests in £1.1m in specialist forklift trucks for Scunthorpe site
Acquisition of two more forklift trucks for completes a £3.1-million investment in mobile plant at British Steel’s Scunthorpe site.
The SVE 52120-60 forklift trucks have a maximum lifting capacity of 52 tonnes and will be used to transport and load semi-finished steel products.
This latest £1.1-million investment replaces older machines that had come to the end of their working lives, and follows the recent addition of seven other vehicles to modernise the heavy mobile fleet.
The forklifts have the latest engine control system that allows for better performance through improved fuel efficiency and improved emissions control.
Mark Ding, Manager – Workshop Services, Plant Infrastructure and Assets for British Steel, said: “This is a significant investment in our mobile plant which will assist operational performance as well as reducing maintenance costs and improving our environmental performance.”
The trucks, supplied through West Midlands-based Cooper Specialised Handling, run on modern diesel engines and have a lifting height of up to five metres.
They will be used to transfer hot steel stock bars, which are placed into packs of varying lengths and amounts and loaded according to grade and customer needs. They are also being used to load cold stock from stocking areas onto mainline external wagons, internal mill deliveries and loading slab caster for customers via road and rail.
David Cooper, Executive Director of supplier Cooper Specialised Handling, said: “SVE Truck forklifts have been used on the British Steel Scunthorpe site for more than 25 years during which time they have built a unique reputation for strength, quality and operator comfort in what is, widely accepted, a heavy-duty handling environment. We are naturally delighted that this tenure continues with this supply contract.”
Chancellor announces pension scheme reforms
Chancellor Jeremy Hunt has announced pension fund reforms in a move he anticipates will boost British business and increase returns for savers.
The changes mean:
* By 2027 DC pension funds will disclose their levels of investment in British businesses, as well as their costs and net investment returns.
* Pension funds will be required to publicly compare their performance data against competitor schemes, including at least two schemes managing at least £10 billion in assets.
* Schemes performing poorly for savers won’t be allowed to take on new business from employers, with The Pensions Regulator and Financial Conduct Authority having a full range of intervention powers.
Mr Hunt says that by ensuring pension funds publicly disclose where they invest and the returns they offer, it will make it possible for employers and savers to compare schemes and make informed choices. The government is embarking on Value for Money pension fund reforms to improve outcomes for savers and consolidate the DC pensions market. The reforms will ensure that pension managers are focused on securing good returns for savers.
The plans are subject to a consultation by the Financial Conduct Authority and build on the Government’s Mansion House compact, that encouraged pension funds to invest at least 5% of their assets in unlisted equity.
Chancellor Jeremy Hunt said: “We have already started on a path to drive growth, unlock capital for our most promising companies and improve outcomes for savers – and these new rules mean employers and savers can see how their money is invested and how the returns compare to other schemes.”
