Focus on pro-growth policies for small firms, FSB urges new Government
“To achieve the Prime Minister’s ambition to drive wealth creation in every community, the new Government should look to quickly build on this result with further pro-growth policies targeted at small firms and self-employed people.
“The King’s Speech next week will provide an excellent opportunity for the new Labour Government to show it is truly committed to the success of the small business community.
“Shortly after the General Election was called, we pulled together over 150 growth-focused recommendations to form a manifesto for small businesses and the self-employed.
“In it, we highlighted issues such as the need for planning reform and a Small Housebuilders Strategy to ensure that smaller construction firms are at the heart of delivery plans for new homes and upgraded infrastructure, as well as drawing back foreign visitors who have been tempted elsewhere by reintroducing an expanded tax-free shopping scheme, which could add billions to the economy.
“In order to invest in growth, small businesses need access to affordable finance of various kinds, without lenders discouraging risk-taking by demanding personal guarantees as a blanket policy. We were pleased to secure the evolution of the Recovery Loan Scheme into the Growth Guarantee Scheme, which is now live and making more small business bank loans viable.
“As a recipe for the growth we all need, we hope the new Government makes sure every decision it takes considers the needs of small firms, as well as the indispensable contribution they make to the economy.”
HMRC launches online tool for firms to gauge what VAT registration would mean to them
HM Revenue and Customs has launched a digital tool to help businesses estimate what registering for VAT may mean for them.
The VAT Registration Estimator has been developed after feedback from small businesses suggested an online tool would be helpful to show when their turnover could require businesses to register for VAT and its effect on profits.
A business must register for VAT if:
- its total VAT taxable turnover for the previous 12 months is more than £90,000 -known as the ‘VAT threshold’ – until 31 March 2024 this was £85,000.
- they expect their turnover to go over the £90,000 VAT threshold in the next 30 days.
- they are an overseas business not based in the UK and supply goods or services to the UK (or expect to in the next 30 days) – regardless of VAT taxable turnover.
South Yorkshire businesses list town centre safety and cleanliness as priorities
Safety, cleanliness and the quality of retail have all been cited by South Yorkshire businesses as top priorities for their local urban cores. This is according to the recently-published findings of the Town and City Centre Survey.
The regional Chambers of Commerce covering Doncaster, Sheffield and Barnsley & Rotherham asked businesses to rate the various aspects of their urban core, to highlight its greatest strengths, and to conversely identify those areas where they think investment is needed most.
Results indicate that businesses are deeply invested in their respective civic centres and regard them as being critical to the economy. Yet there are also mixed feelings about what the future holds here.
Of those businesses polled, 73% say that they visit their nearest town or city centre on at least a monthly basis. Furthermore, the general consensus amongst respondents is that these urban cores are indeed beneficial to the wider region, playing a big role in: generating tourism; attracting investors; retaining young talent; and developing civic pride.
However, despite valuing town and city centres so highly, a third of firms expressed that they are not optimistic about where their nearest hub is heading over the next five years. Indeed, there is a real split in confidence over whether there will be any discernible improvements in that time span.
Carrie Sudbury, Chief Exec of Barnsley & Rotherham Chamber, said: “It is heartening to see that businesses do actually believe that their local civic centres are important and that many of them back up that sentiment by visiting frequently.
“We cannot ignore the fact that respondents also flagged a number of deep-seated issues too. Most notably, less than 15% of firms answered positively when asked to rate the cleanliness, retail offer and safety of their nearest civic centre and the vast majority of them told us that these areas must be prioritised going forward.
“Similarly, other characteristics — like the availability of business collaboration spaces and the quality of both our residential & leisure offers —rated quite low as well. Recognising that these challenges and concerns may not be unique to South Yorkshire, it is still clear that a lot of work remains to be done.”
Government gives development consent to Gate Burton Energy Park
Eighteen months after submission of plans for The Gate Burton Energy Park the scheme has been granted development consent by the Secretary of State for Energy Security and Net Zero.
Gate Burton Energy Park is to be built on land near Gate Burton in Lincolnshire. The electricity it generates will be exported via a connection into the existing national electricity transmission system at National Grid’s Cottam substation in Nottinghamshire.
The project is anticipated as having a generation capacity of around 500 megawatts (MW). This is equivalent to providing enough clean energy to power over 160,000 homes and avoid more than 100,000 tonnes of CO2 emissions every year.
The facility plans to build on about 684 hectares of agricultural land south of Gainsborough, near the communities of Gate Burton, Martin, Knaith Park and Willingham-by-Stow.
Spencer Group wins £23m contract for pioneering energy plant
Hull-based engineering specialist Spencer Group has won a £23m contract for a key role in the development of a pioneering new energy plant which aims to reshape the future of renewable energy.
The Group will design the site layout and deliver the enabling works and civils for a first-of-its-kind energy storage facility which is being developed at Trafford Energy Park in Carrington, Manchester.
The £300m development by Highview Power will store surplus electricity generated from wind and solar, and will be the first commercial-scale plant in the UK to deploy a pioneering new technology known as liquid air energy storage.
Developed by Highview Power in the UK over the past 17 years, the technology allows renewable energy to be stored for up to several weeks, longer than battery technologies.
The plant will be one of the world’s largest facilities of its kind and, once complete, will have storage capacity to provide enough clean and green energy to serve the needs of 480,000 homes.
Spencer Group Executive Chairman Charlie Spencer said: “Highview Power is a leading player in helping the UK achieve its net zero targets and is addressing the key issue of energy storage.
“We have a strong track record of delivering large-scale energy projects and we’re excited to expand our portfolio of works within this field with a project that will play a key role in the UK’s energy transition.”
John Goldie, Highview Power’s Programme Director, added: “We are looking forward to continuing to build and further our relationship with Spencer Group, which we have developed over the past 24 months during the pre-execute phase of the Carrington project.
“We selected Spencer Group based on their expertise and experience in delivering similar type projects and providing innovative and value-added solutions in engineering and construction.”
Spencer Group’s Civils Division will begin work on site in late 2024, with the plant expected to be operational in 2026.
York chocolatier wins inaugural Made Smarter award
York-based chocolatier Choc Affair has won the inaugural Made Smarter Adoption Award on recognition of its commitment to digital transformation and innovation within the manufacturing sector.
Choc Affair achieved a huge leap in capacity for its handmade chocolates thanks to a high-tech labelling machine funded by a £20k grant from Made Smarter Yorkshire & Humber, delivered through the South Yorkshire Mayoral Combined Authority and the York & North Yorkshire Growth Hub. The machine has led to an increase in capacity from labelling 600k bars a year to 1.5m.
Julian Barrie, MD of Choc Affair, said: “The process with Made Smarter was really easy. The support and financial assistance have been invaluable. We’re excited to scale up our business and secure our future thanks to this investment.”
The Made Smarter Adoption Awards, launched to recognise and celebrate SME manufacturers who have embraced technology and skills to digitalise, decarbonise, and drive growth, saw regional winners from across the UK compete for the national title at an awards show in Liverpool.
Brian Holliday, Co-Chair of the Made Smarter Commission, added: “The Made Smarter Awards celebrate digital transformation among SME manufacturers, and I would like to congratulate all winners and nominees as we collectively celebrate the successes the Made Smarter adoption programme has helped support in each of the individual manufacturing businesses.”
Amazon told to act swiftly to show compliance with Groceries Supply Code of Practice
Fewer than half of firms supplying directly to Amazon who responded to the Groceries Code Adjudicator’s 2024 annual survey believe the company consistently or mostly complies with the Groceries Supply Code of Practice.
Despite the overall improvement in the treatment of suppliers, Amazon’s perceived Code compliance score fell from 59% to 47%.
Mark White, the Groceries Code Adjudicator has told Amazon that it must take swift and comprehensive action to demonstrably comply with the Code. The GCA is monitoring changes that Amazon is making and their impact on suppliers to determine whether they are sufficient.
He said: “I am encouraged to see improvements in Retailers’ treatment of suppliers across a range of issues including the management of cost price increase requests but also resolution of invoice discrepancies and data input errors.
“However, the survey shows clearly that many suppliers do not believe that Amazon is complying with the Code. Amazon must ensure suppliers understand the changes it has made since its designation and in response to these survey results, and make any further changes that are needed to ensure Code compliance.
“I will not hesitate to launch a formal investigation if appropriate and necessary to ensure Amazon is treating its suppliers fairly and lawfully. I encourage suppliers to continue to confidentially tell me about the issues they are facing with Amazon.”
The results of the eleventh annual survey, which received more than 3,000 responses, show that the number of suppliers experiencing a Code issue fell from 36% to 33%.
There was a significant improvement in relation to cost price increases (CPIs). As food price inflation has fallen, the number of suppliers which requested at least one CPI from a Retailer over the previous 12 months fell from 91% in 2023 to 67% in 2024. The number of suppliers highlighting a Retailer’s response to a CPI as an issue almost halved, falling from 28% in 2023 to just 16%.
There has also been improved performance against other issues impacting suppliers:
- 21% of suppliers highlighted inadequate processes in place to enable invoice discrepancies to be resolved promptly, compared to 25% of suppliers in 2023.
- 11% of suppliers highlighted data input errors not being resolved promptly, compared to 16% in 2023.
Fusion energy project appoints three new non-exec directors
UK Industrial Fusion Solutions Ltd has appointed three new non-exec directors to support of the delivery of the UK’s prototype fusion energy plant.
Kaveh Pourteymour, Julie Nerney and Dr Luc Bardin will be part of STEP, the Spherical Tokamak for Energy Production, to be built at the former West Burton Power Station near Gainsborough, which aims to demonstrate net energy from fusion alongside paving the way for the commercialisation of fusion energy.
These strategic appointments follow the launch of a multi-stage competition to find industry partners – one in engineering and one in construction – to form a public-private alliance led by UK Industrial Fusion Solutions Ltd, a wholly owned subsidiary of UK Atomic Energy Authority Group, to deliver STEP.
Professor David Gann, Chair of UK Industrial Fusion Solutions, said: “We are delighted to welcome Kaveh, Julie and Luc to our Board, together with Charlotte Valeur and our other executive and non-exec members. Their strategic insights will be invaluable as we navigate the delivery of a new technology to ensure the UK remains at the forefront of an emerging industry.”
Kaveh is currently Managing Director – Head of Business Partnering and Projects for global mining group, Rio Tinto, and joins the UKIFS Board as a digital transformation leader with over 30 years’ experience spanning energy, utilities and manufacturing in addition to complex systems engineering and digital modelling. Throughout his career, Kaveh has successfully implemented cutting edge solutions to enhance business performance delivered through operating models that incorporated diversity and inclusion at their heart.
Julie has been delivering impactful and sustainable change in organisations for over 30 years in roles that span c-suite and board level, experiencing every stage of the organisational life cycle. She has delivered high profile and complex programmes, including a leadership role in the transport operation for the London 2012 Olympic and Paralympic Games and was appointed as a Non-Executive Director of the Supreme Court in February 2023.
A current Non-Executive Director on the UKAEA Group Board, Dr Luc Bardin joins for a shorter period to help with the transition from UKAEA to UKIFS, where his world renowned expertise in organisational development and strategic partnering will be of immense value.
The UKIFS Board will also be joined by Jamie Stapleton as Board Advisor. Jamie is currently VP Digital Innovation & Synergies at Hitachi Energy.
The new appointments join fellow independent Non-Executive Director, Charlotte Valeur, an Investment Banker and experienced FTSE Chair and Non-Executive Director. Her long board-level experience spans a host of sectors and industries and covers IPOs, mergers and acquisitions, and restructuring. She is a recognised international authority and professor in corporate governance and leadership, and author of ‘Effective Directors, Questions to Ask’.
UKIFS will be responsible for the delivery of STEP from later this year. The programme aims to create future opportunities for suppliers ranging from whole plant integrators to critical system manufacturers that can design and deliver future plants worldwide in addition to benefitting the communities that surround West Burton.
The fusion process can be thought of as the opposite of fission – combining lighter atoms rather than splitting heavier ones. It is based on the same processes that power the Sun and stars and has potential to provide safe, sustainable and low-carbon energy for generations to come.
Floormaster’s PV grant’s expected to save more than £3,500 a year on energy bills
Barnsley-based Floormaster Yorkshire has gained grant funding to invest in solar panels which will generate more than 70 percent of the energy it needs.
The company has installed 36 panels to the roof of its warehouse at Barugh Green to feed electricity into the company’s 600 sq ft showroom next-door. The company’s investment has been backed by a grant from the Net Zero Barnsley programme delivered by The Business Village in partnership with Barnsley Council.
Floormaster became eligible for a capital grant – which they’ve had to match-fund – to invest in a development to cut carbon emissions, after completing the programme.
The family firm bid for £6,000 to go halves on a £12,000 photo-voltaic system designed to switch the company to renewable energy, reducing carbon emissions by 80 per cent and slashing energy bills by half.
OPs Manager Daniel Deacey said: “We own our warehouse and its expansive roof, so when Net Zero Barnsley helped us look at the idea of putting solar panels up there to generate power for our showroom and offices it all made perfect sense.
“Even so, as a small business we probably wouldn’t have been able to afford to pay up-front for the PV system – the grant support was really important in our decision to go ahead.
“We look forward to much lower monthly energy bills soon. And, as we’ve all got to work towards net zero emissions, it feels good to have taken significant action towards that too.”
Floormaster currently uses 16,651kWh of electricity a year which amounts to 3,220kg of CO2 emissions and costs nearly £8,000 in bills.
Floormaster’s 15.3kWp PV system is expected to generate 13,000kWh of renewable energy a year and reduce the company’s carbon emissions by 2,613kg a year. The panels should save them more than £3,500 a year on energy bills and pay for themselves within three and a half years. It is also calculated that over the panels’ 22-year lifetime, they will produce 303,975 kWh of clean energy and reduce the company’s CO2 emissions 58.78 tonnes.
Pubs win extra time as England bid for Euros glory
Tomorrow night pubs and bars across England and Wales can keep their doors open until 1am as England bid to become champions of Europe, Home Secretary Yvette Cooper has confirmed.
Following the Three Lions’ emphatic semi-final win on Wednesday night, the team is set to go head to head with Spain in the final of the 2024 UEFA European Football Championship.
The heavyweight clash will kick off at 8pm, with fans up and down the country coming together to show their support.
Pub licensing hours can be relaxed to mark occasions of “exceptional national significance”, meaning pubs and bars will be able to stay open for an extra 2 hours tomorrow evening.
Yvette Cooper said: “We’re so proud of Gareth Southgate and the England team. It’s right that we can all come together tomorrow to enjoy the match and—do we dare to dream?!—hopefully celebrate an England victory.
“I want to pay special thanks to the police officers and first responders who will be working across communities to keep us safe.
“I look forward to getting behind all our brilliant players, who bring so much pride to our country, and I want to wish the team the best of luck. Let’s bring it home.”
As well as bringing fans together for longer, tomorrow night’s extension is due to be a welcomed boost to the hospitality industry. Emma McClarkin, Chief Executive of the British Beer and Pub Association, said: “As with the semi-finals, pubs will be licensed to stay open until 1am on Sunday night and thanks to the Home Office for making the changes to the licensing rules for allowing this to happen. “The changes give fans even more time to enjoy the game, support our pubs and hopefully celebrate football finally coming home.“Fans have shown us resoundingly this tournament that there is no better place to watch our teams and soak up the atmosphere than the great British pub. This Sunday the BBPA urges everyone to get down their local, support our pubs and get behind the boys. Come on England!”
