Yorkshire business confidence grows
Business confidence in Yorkshire and the Humber rose 11 points during May to 45%, according to the latest Business Barometer from Lloyds Bank Commercial Banking.
Companies in Yorkshire and the Humber reported higher confidence in their own business prospects month-on-month, up 16 points at 50%. When taken alongside their optimism in the economy, up five points to 39%, this gives a headline confidence reading of 45% (vs. 34% in April).
A net balance of 29% of businesses in the region also expect to increase staff levels over the next year, up eight points on last month.
Looking ahead to the next six months, Yorkshire and the Humber businesses identified their top target areas for growth as entering new markets (41%) and evolving their offering (31%). A quarter (25%) said they planned to introduce new technology or to invest in sustainability.
The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide. The data for this edition was collected between 1–16th May, before the UK general election was announced.
National picture
In May, overall UK business confidence reached its highest level since 2015 – rising by eight points to a net balance of 50%.
Businesses showed increased optimism in both their trading prospects (up nine points month-on-month to 54%) and the economy (up seven points to 46%). Firms’ trading outlook was the most optimistic in seven years, while economic optimism was the highest recorded since September 2021.
Scotland and the South East of England were the most optimistic of the UK nations or regions in May (both 57%), followed by the West Midlands (56%).
Sector insights
Similarly, there were particularly strong results reported in the construction and services sectors this month. Prospects in the construction sector jumped to 58% (up 20 points), the highest for 14 months, while in services, expected output increased to 57% (up 12 points). On the latter, it is the highest level since the survey was expanded in 2018. Expected business activity in the retail sector also improved to 49% (up three points).
Although trading prospects in manufacturing eased slightly to 49% (down three points), the underlying trend over the last three months remains positive.
Martyn Kendrick, regional director for Yorkshire and the Humber at Lloyds Bank Commercial Banking, said: “It’s no surprise that Yorkshire’s firms are so confident in their own prospects – this is a region with huge adaptability, resilience and a deep pool of skill and insight.
“As businesses look at how they can drive further growth on the back of such a positive outlook, we’ll be by their side with our backing and insight to help them ensure they’re equipped for whatever lies ahead.”
Hann-Ju Ho, senior economist, Lloyds Bank Commercial Banking, said: “These results highlight a notable improvement in business confidence. Optimism about the economy increased to 46% this month – the highest result since September 2021, when the country was emerging from the Covid-19 pandemic, but before the energy crisis after the invasion of Ukraine.
“The regional picture has also improved – we’ve now seen increases in seven of the UK’s 12 regions, where there was previously a more mixed picture. Results in the South East, Scotland and the West Midlands were particularly strong. Across the sectors, there were strong, broad-based improvements in services and construction.”
Melissa joins Private Client department at AWB Charlesworth
Melissa Butler has joined AWB Charlesworth Solicitors as paralegal in its Private Client department dealing with Wills, Trusts and Probate.
She has almost a decade of experience in estate administration, the preparation of Wills and Lasting Powers of Attorney, and in dealing with applications to the Court of Protection.
Jenny Barron, Head of Private Client said: “Our wills and probate business is going from strength to strength and we have an urgent need to expand our team to cover the large quantity of work and maintain our excellent standards of service. Melissa’s extensive experience is a great advantage to us as we increasingly take on complex inheritance work and help families with multiple assets.”
Melissa said: “AWB Charlesworth is a long-established firm with a great reputation, progressive in its approach to the law, and yet maintaining the strong values of a family firm.”
AWB Charlesworth’s Private Client department is split across three offices to service the needs of clients in Skipton, Keighley, Bradford, and the wider area of the Aire Valley and the Yorkshire Dales.
Food entrepreneur urges manufacturers to share in donating five million meals a year
2 Sisters Food Group owner Ranjit Singh Boparan has urged other manufacturers to join him to help tackle the continuing food insecurity crisis gripping UK households by donating up to five million meals every year.
He intends to increase food donations from his food manufacturing empire, which has premises in Scunthorpe, following his announcement last November to work in partnership with charity FareShare and retailers.
He said: “We have a moral responsibility to do the right thing. It cannot be right that in the UK in 2024 people are struggling to feed themselves. No-one should go to sleep on an empty stomach at night, especially not children.
“I have previously committed to supporting the King’s Coronation Food Project and in partnership with M&S, we are working to boost Fareshare’s distribution efforts. However, I do feel it is time for individual companies who make food to step up and help alleviate this problem.
“This also requires a big effort from our supply chain and it’s fantastic to see so much goodwill and support. Without the support of companies like Magnavale who are storing these products for us, this entire distribution effort wouldn’t be possible.”
Millions of people – including one in five families with children – have gone hungry or skipped meals in recent weeks because they could not regularly afford to buy groceries, according to new food insecurity data.
According to the latest Food Foundation tracker, 15% of UK households – equivalent to about eight million adults and three million children – have experienced food insecurity in 2024, as the cost-of-living crisis continues to hit the pockets of low-income families. It is estimated this figure has doubled in the last three years.
In November 2023, Ranjit met The King in support of the Coronation Food Project following his pre-Christmas donation of one million meals, donated in partnership with M&S.
£20k grant helps Driffield business cut its carbon footprint
Driffield-based engineering company Shields has significantly reduced its carbon footprint with the help of a £20,000 grant secured with the help of the Invest East Yorkshire’s Business Support team.
The grant has been invested in a large solar panel installation at the company’s premises on the town’s Kelleythorpe Industrial Estate.
Carey Kelly, a Director at Shields, said: “We have enjoyed a long and positive relationship with the Invest East Yorkshire Business Support team. As the business has grown and our plans have changed, we have worked closely with them, not just in relation to financial assistance but also for ongoing advice and guidance. We are very appreciative of this support and look forward to this relationship continuing as we grow as a business and create more skilled jobs for Driffield and the surrounding area.”
Business Advisor Chris Moore said: “Following a review of the business and a discussion about its growth plans, we arranged for Shields to have an independent energy assessment by a specialist company that we appointed. This was fully funded and highlighted a number of energy saving measures they could take as part of their commitment to becoming more environmentally sustainable.”
Shields is a family-owned mechanical engineering and bulk processing company established in 1984. It now employs more than 50 people and works with customers across the UK.
Shields first worked with Invest East Yorkshire’s Business Support Team more than ten years ago and, since then, has benefited from the advice, support and knowledge of its team of advisors on several occasions, helping to further fuel its growth and development.
Most recently, the company worked with Business Advisor Chris Moore to access a £20,000 grant from the UK Shared Prosperity Fund. This enabled Shields to achieve its goal of drastically reducing its carbon footprint by investing in a large solar panel installation project at its headquarters in Driffield.
Vacant space in Hull to be brought back into use as leisure and social venue
Dozens of city centre jobs will be created at a new, modern leisure and social venue in Hull.
Hull City Council has allocated £400,000 of external funding to Federation of Sport Limited to bring back into use over 1,500sqm of vacant floor space at Unit 7, King William House.
The unit has stood empty for an extended period but will now see a brand-new facility as part of the Lowgate building’s overall regeneration in recent years.
The project will involve the installation of high-grade sports technology, including audio-visual equipment, as well as two bars and communal areas and a fully-fitted, commercial-grade kitchen.
The overall cost of the works is projected to be almost £2m, meaning more than £1.5m of private capital is being invested into the city centre.
There are 43.5 full-time equivalent job vacancies expected to be created as a result.
Garry Taylor, assistant director of major projects, culture and place at the council, said: “King William House has seen significant regeneration in recent times and it’s pleasing to see another plan come to fruition.
“City centre grants have unlocked so much potential for Hull and I’m delighted that the council has been able to provide further support.”
New chair for Keighley Town Board
Bradford Council has welcomed a new chair to the inaugural Keighley Town Board.
As part of the Government’s Levelling Up agenda, Keighley was awarded £33.6m via the Towns Fund for its Town Investment Plan in 2021, and has since has been allocated up to £20m to deliver a Long Term Plan.
The Keighley Town Board has been set up to deliver both plans and is made up of representatives from local businesses as well as charitable and voluntary organisations, with support from Bradford Council.
The newly-elected chair Tim Rogers is the CEO of Future Transformation, a not-for-profit organisation with a mission to close the digital divide and reverse climate change. Born and raised in Keighley, Tim is a fellow of the University of Bradford as well as chair of the Digital Makers Operational Board and sits on various boards across the region with a STEM focus. Tim is also on the DSIT Cyber Security Board advising on policy and skills provision.
Tim said: “Keighley has some of the most recognisable and important cultural assets of the whole district with the Worth Valley Railway, the heritage of the Brontë’s, our buildings such as Cliffe Castle, incredible local businesses like Timothy Taylors and so much more.
“My vision is to use this multi-million pound investment from the public purse to create an environment where the private sector can see a sustainable return on any investment – allowing Keighley to realise it’s potential in its economy, skills, heritage, creativity and transport aspirations.
“In order to do that we all need to be on the same page and we need to work together in a truly collaborative way. I want to hear from people in all Keighley’s communities, and from businesses, schools and colleges in Keighley on what they want to see. This really is our time to shape our own future over the next ten years and beyond. And it will happen with everyone supporting it.”
Tim will oversee the delivery of some of the board’s pivotal projects such as the Providence Park development, the Community Grants programme, the Town Centre Infrastructure project and the Capital Assistance to Business Growth grants.
Bradford Council’s Portfolio Holder for Regeneration, Transport and Planning Councillor Alex Ross-Shaw said: “The previously-established Keighley Towns Fund board has already been successful in delivering some excellent work. With the additional funding through the Long Term Plan, the vision for Keighley will now be developed further and this will of course take previous plans for the town into consideration.
“We are pleased to welcome Tim as chair to drive the work of the Keighley Town Board. With his experience, he will be an asset to the team. These are exciting times for Keighley. The level of investment in the town is significant and it will be transformative.”
My Pension Expert acquires financial adviser
Doncaster-based My Pension Expert has acquired Tenet&You.
Tenet&You is a financial adviser that provides tailored advice to ensure clients’ finances are in the best possible place to match their circumstances and aspirations. It was appointed as a representative of the Tenet Group.
This is My Pension Expert’s first acquisition. Tenet&You has £490 million assets under administration, taking the combined entity to approximately £1 billion assets under influence.
As part of the acquisition process, Tenet&You will operate as an appointed representative of My Pension Expert. Then, in due course clients will be moved across to My Pension Expert systems as they become part of the My Pension Expert group.
My Pension Expert CEO, Andrew Megson, said: “We’re delighted to conclude the acquisition of Tenet&You; a business that shares our ambition to empower all UK consumers to achieve their financial goals, and build our organic growth model. This exciting move will ensure My Pension Expert can deliver high-quality, independent financial advice to more people nationwide.
“Throughout this entire process, our focus has been on ensuring the best possible outcomes for the existing Tenet&You customers. Much work has gone into making sure the move is seamless, and My Pension Expert is perfectly positioned to provide our new clients with outstanding service and care.
“This marks our first acquisition, and we look forward to continuing our growth and strengthening our offering in the future. We’re an ambitious business, and the entire team are excited to continue driving My Pension Expert forward in the years to come.”
Music hub vision takes major step forward with £1.6m Canada House purchase
Harmony Works Trust has reached a key project milestone following its purchase of the 35,000 sq ft Grade II* Listed Canada House in Sheffield City Centre.
The £14m Harmony Works project will restore and revitalise Canada House, one of Sheffield’s grandest buildings. The building will be transformed into a new, central music education hub for young musicians from across the city and region.
Harmony Works will be home to every genre of music and music-inspired culture offering spaces for teaching, practising, rehearsing and performing.
The Trust, which was awarded charitable status in August 2023, has bought Canada House from retail brand Panache for £1.6 million. The Harmony Works project and Canada House refurbishment is backed by multiple funding initiatives, including Government Levelling Up Funds secured by Sheffield City Council to support the regeneration of Castlegate.
Canada House’s city-centre location means it can be reached by public transport from all parts of South Yorkshire ensuring that the very best music education is accessible for all.
Founded by Sheffield Music Hub, Sheffield Music Academy, Brass Bands England, and Music in the Round, the project is also backed by Sheffield City Council, major public funders, the Sheffield Culture Collective, and the universities.
Commenting on the project’s progress, David Hobson, Chair of Harmony Works Trust, said: “Our goal is to foster growth and transformation through the power of music. We are incredibly excited to announce that Canada House is officially ours. This is a huge milestone moment for our project.
“We, alongside all our partners, collaborators and funders, have worked incredibly hard to get this far, and we want to say a massive thank you to them for all their help and support to date.”
Emily Pieters, Harmony Works’ Project Director, added: “While we’re one step nearer to achieving our long-term goals of creating a more accessible and inclusive musical pathway for the young people and their communities across the Sheffield region, our work here is just beginning.
“With significant support from the public sector secured, we now need the help of our private sector to get this project over the finish line.”
Councillor Martin Smith, Chair of the Economic Skills and Development Committee at Sheffield City Council, said: “As well as creating an educational and inspirational space in Sheffield, the Harmony Works project will be a major catalyst for change in our city, particularly the Castlegate area.
“It will also help to preserve one of our city’s finest historic buildings and bring forward a plan to transform music provision in the region.”
An Italianate Renaissance-style building, Canada House was built in 1875 for the Sheffield United Gas Company. Over the past few decades, the building has taken many guises, from nightclubs to restaurants, and has more recently been home to specialist lingerie brand Panache.
The funding support to date has been provided by the Architectural Heritage Fund, The National Lottery Heritage Fund, Sheffield City Council, South Yorkshire Mayoral Combined Authority, the UK Government, and local Trusts and Foundations.
International law firm CMS LLP has also provided pro-bono legal support for the project since 2018.
Harmony Works Trust is now applying for additional funding support from Arts Council England and Trusts and Foundations for its next phase of the project.
Keighley businesses share in almost £1m to boost business and create new jobs
More than 20 businesses in Keighley have been awarded more than £973,000, and 15 businesses in Shipley have received more than £604,000 with the expectation of 151 jobs being created across both areas as a result.
The money has come from the Keighley and Shipley Towns Funds, with more still available.
The Capital Assistance to Business Growth Programme is part of the Government-funded Towns Fund and there is £4m available to support local businesses in the Keighley and Shipley areas, with approximately £2m allocated to each.
Grants are allocated by the Towns Fund boards for each town, made up of private sector representatives, with support from Bradford Council. Businesses can use the grant to invest in premises, machinery, equipment or property to fit out and bringing disused buildings back into use.
Funding has so far been spent on a wide-range of projects by businesses across the district such as expanding and modernising facilities, as well as replacing older equipment with more efficient, up-to-date systems.
Councillor Alex Ross-Shaw, Bradford Council’s Portfolio Holder for Regeneration, Planning and Transport, explained: “It’s so positive to see how this funding is already making such a significant impact. It has directly translated into growth for the businesses who have received it so far and the welcome creation of new jobs for the area.
“Grants ranging from £1,500 to £315,000 are still available for businesses within – or looking to move to – the Keighley and Shipley Towns Fund Areas, and other businesses are invited to apply.”
Adam Clerkin, chair of Shipley Towns Fund, said: “The process of securing a grant is straightforward and the team at Bradford Council will advise businesses throughout. This kind of support for local businesses is crucial in the current economic climate and we want to make sure that everyone who is eligible, has access to it.”
Chair of Keighley Towns Fund Tim Rogers, added: “Keighley has a proud industrial heritage and a thriving business community. There is funding available for businesses who would benefit and we’re keen to support them. I would encourage anyone interested in applying to get in touch.”
Major open die forge project enters second phase
A demolition programme at Sheffield Forgemasters’ Brightside Lane base has opened the site up for the next phase of construction for the UK’s largest open die Forge.
With a footprint of 150 metres by 84 metres, the location is now undergoing piling works for the foundations and base, which will support a 13,800 sq m building containing a new 13,000 tonne heavy forging press, furnaces, quenching pits and cranes.
Partnered by Vinci Building, who have secured a £138 million contract to deliver the Forge building, Sheffield Forgemasters is undertaking a site-wide recapitalisation programme to produce a new level of technological advancements and production facilities in support of the UK’s defence programmes.
Craig Fisher, Recapitalisation and Transformation Director at Sheffield Forgemasters, said: “We are now at a notable milestone in our Forge project, with the site fully cleared and processed so that piling works can proceed.
“This moves the project into its next phase, which is where the pace of delivery ramps up.”
Demolition and remediation works have been underway for the past seven months, including removal of internal steel structures, stabilising the ground, removal of any contaminants, processing more than 25,000m3 of spoil, and crushing 4,500m3 of old concrete to clear the site.
Chris Winspear, from VINCI Building, said: “We are delighted that we have now completed the demolition and prepared the first areas of site ready to receive the substructure works for the new building. We are looking forward to the next phase of the project working in collaboration with our supply chain partner, Cementation Skanska, appointed to undertake piling and ground engineering package of works.”
Working closely with VINCI Building, piling specialist Cementation Skanska will construct a 200 metre long secant pile wall for the new forge, between eight and ten metres deep. In total, 1,500 piles will be required for the project.
The forging line is set to be operational in the summer of 2027 and will be complemented by a new machining facility, which is currently being scoped, containing multiple versions of the world’s largest, most advanced, five-axis vertical turning lathes and creating an unparalleled manufacturing facility.
Craig Fisher added: “The scope of what we are undertaking at Sheffield Forgemasters is unmatched since the Victorian era, with facilities which will work to create a new standard of large-scale engineering accuracy, innovation and speed for complex, nuclear-grade components.
“An uplift in defence contracts has meant that we need the capacity of our facilities to be able to match increased throughput.”
The forging line and proposed machine shop will service defence and commercial work in sectors such as civil nuclear power, creating a new generation of engineers and designers, trained to work with Industry 4.0 technologies.
Turner & Townsend is also a supporting partner for the Sheffield Forgemasters project, alongside Tetra-Tech.
