Whitaker Tankers, a long standing, family owned shipping business based in Hull, has been acquired by marine fuel specialists Lindsay Blee. Whitakers is an internationally renowned fuel transportation company, operating a fleet of sea going tankers and specialising in ship bunkering services. Mark Whitaker, managing director, whose family has owned the business for 144 years, said: “The success of the Whitaker business has only been achieved through the incredible hard work and professionalism of our staff ashore and afloat – and as there will be no changes in this regard we are confident that there will be a smooth transition to the new owners, of whom we wish the very best in their new venture.” James Hills, managing director of Lindsay Blee, added: “We are thrilled and very proud to be adding Whitaker Tankers to our organisation. We look forward with excitement to working together with the Whitaker team and building upon their well established success and reputation for quality and service.” The Whitaker family were represented by a legal team from Andrew Jackson Solicitors LLP led by Philip Ashworth (Corporate) and including Nicole Waldron (Corporate), Rob Hill (Property), Fiona Phillips (Tax), Dominic Ward and Rebecca Forder (Shipping). Philip Ashworth, corporate partner, said: “It is particularly poignant to represent the Whitaker family on its exit from the Tankers business after so many years having personally been associated with three generations of the family since 1981. “The family strongly believe this is a positive change, providing clarity on the succession of the business to its staff and customers. “I am sure the business will go from strength to strength and it is a delight to see Mark and his family move forward to their next chapter.” Whitakers was provided with accountancy support from Steve Bramhall at Smailes Goldie in Hull. Linday Blee was represented by a legal team at Gosschalks, comprising Nigel Beckwith and Emma Orris, together with financial advice from Majors in Hull provided by Stewart McGregor.

Small firms are hampered by late payments and have dampened growth expectations for 2024, according to the Small Business Index for Q4 2023, says the Federation of Small Businesses. The report is said to be a temperature check of small firms’ sentiment and experiences at the end of last year, and analysis of the figures related to investment and growth aspirations, late payment, and finance use finds that small businesses have lost some optimism amid difficult trading conditions. FSB National Chair Martin McTague  said: “When we look at how small businesses fared towards the end of 2023, it’s hardly surprising that the overall economy also stuttered, with Q4’s poor performance officially dragging the UK into a recession. Now the question is how we rekindle growth – and looking at how to kickstart investment and expansion will be a big part of the answer. “One major barrier to investment among small firms is the imposition of personal guarantees for even relatively small amounts, which is why we raised a super-complaint with the Financial Conduct Authority about the practice. We think lenders should take a more holistic view of borrowers, and should recognise that demanding personal guarantees is having an overall chilling effect on growth and investment. “We were relieved to see Government funding for the Recovery Loan Scheme, now renamed the Growth Guarantee Scheme, extended in the recent Budget. This will support the expansion plans of thousands of small firms. “Another threat to small firms’ financing options looms with the planned removal by the Bank of England’s Prudential Regulation Authority of the SME Supporting Factor, which allows lenders to hold lower levels of capital to counterbalance loans to SMEs. If it is abolished, banks will have one more reason not to lend to smaller firms, which we believe will reduce the availability of finance overall, and push up rates. “Unless matters change, the holding pattern seen in the SBI results looks set to carry on, with the impact felt more keenly in some sectors than others. It’s striking just how downbeat the hospitality industry is, according to our figures, and the news that one in eight expect to close this year is deeply alarming. “Late payment is a scourge, and one that shouldn’t exist – there’s no excuse, with modern business banking methods, for large companies to hold onto money due to small suppliers. Overdue invoices cause uncountable amounts of stress and harm to small business owners, leading to sleepless nights and lost productivity. Large companies should make their payment performance a board-level issue, and include it in annual reports, to improve accountability and transparency. “Small firms contain the dynamism and the ambition to grow that will get the economy up and running, if they are given the right conditions to flourish, invest, and make their mark.” The differences between sectors on this topic were especially pronounced. Information and communication firms were notably optimistic, with a healthy 56.0% predicting they would grow over the next 12 months, and only 9.4% expecting they would downsize or consolidate the business, sell or hand it on, or close down entirely. Manufacturing firms were similarly confident about future growth, with 54.8% forecasting growth ahead, and 7.9% expecting to shrink, as were professional, scientific and technical firms, at 52.5% looking to grow and 9.8% predicting they would contract. Retail and wholesale firms were less optimistic than the average, but were still within touching distance of the all-sector scores, with 47.3% predicting growth, and 18.6% predicting contraction. The hospitality sector was far more downbeat about its future prospects. Just three in ten accommodation and food service sector businesses (31.6%) believe they are on course to expand, while a greater proportion – 35.5% – predict that they will contract. Among that latter figure, a shocking one in eight firms in the hospitality sector – 12.6% – expect to close entirely in the next 12 months, nearly four times the rate for all businesses (3.4%). The share of small firms experiencing late payments rose from three in five in Q3 (60.8%) to nearly two in three in Q4 (65.8%). The proportion of small firms whose late payments worsened over the quarter, meanwhile, rose from over one in four in Q3 (27.9%) to over a third in Q4 (34.9%). Small firms’ views of the availability and affordability of new credit remained notably negative, with only around one in seven small businesses (14.5%) rating it as quite good or very good, while over half (52.0%) rated it as quite poor or very poor. Among those small firms whose applications for new credit were successful over the quarter, a third (33.4%) were offered a rate higher than 11%, a new record for the SBI.  

Farmers and land managers can now get up to £11,600 per hectare for the public benefits delivered by woodlands they create – a 45% increase – under the England Woodland Creation Offer. The change has been introduced by Defra and the Forestry Commission as the latest step to increase tree-planting across the country. Forestry Commission Chief Executive Richard Stanford said: “There has never been a better time for farmers and land managers to plant and grow more trees, and these announcements make it clear that woodland creation is a compelling part of the business of land management. I encourage everyone eligible to take advantage of the generous woodland creation incentives now available. “In addition to encouraging woodland creation away from most productive land, it is important to remember that trees and woodlands can support farming objectives – for instance providing shade and shelter, improving productivity through healthy soil and water, reducing erosion and nutrient loss from surface run-off, or improving drought and flood resilience.” The increase in EWCO payment rates will take effect immediately and offer farmers and land managers more tailored tree-planting incentives to encourage woodland creation where it is best suited, whilst also protecting our most productive farmland for food production. This is a key part of the Government’s plans to achieve net zero by 2050 and put nature at the forefront of its efforts to tackle climate change. The current maximum rate per hectare available from additional contributions will increase from £8,000 to £11,600 – a 45% increase. That will increase to £12,700 in stackable payments if the land is also eligible for the new Low Sensitivity Land Payment. Standard costs payments will remain at up to £10,200 per hectare. As part of the enhanced package, key new measures include:

• A new payment to encourage EWCO applications on low sensitivity land has been introduced, avoiding land most suitable for food production. When planting on low sensitivity land you can now receive £1,100 per hectare.
• A new ‘Nature Recovery – premium’ payment option (£3,300 per hectare) has been added to the Nature Recovery Additional Contribution. This is designed to encourage the planting or natural colonisation of highly biodiverse woodlands next to ancient woodland.
• Uplifts have also been made to some of the other existing additional contributions, with a focus on riparian buffers, flood mitigation and access. For example; payments for flood risk management have doubled from £500 to £1,000 per hectare, and recreational access has increased from £2,200 to £3,700.
• Annual maintenance payments have been raised from £350 to £400 per hectare, per year, for 15 years – recognising that caring for new trees is vital if new woodlands are to flourish.