Inflation falls more than expected offering “whisper of relief” to businesses
UK inflation has dropped more than expected, with annualised inflation rate, measured by the consumer prices index (CPI), dipping to 3.9% from 4.6% in October.
This is the lowest rate since September 2021, is below the expectations of analysts, and comes largely thanks to declines in motor fuel prices and recreation costs and a slowdown in food and drink inflation.
Annualised inflation had been forecast to come in at 4.4%.
Meanwhile, core inflation, which takes out volatile factors like energy, food, alcohol and tobacco to give a clear picture of underlying trends, was more stubborn at 5.1% in the 12 months to November 2023, falling from 5.7% in October.
Responding to the news, Martin McTague, national chair of the Federation of Small Businesses (FSB), said: “The decrease in inflation is a whisper of relief to small firms as we end the year. The reduction marks a significant shift from the staggering 10 per cent figure this time last year at the peak of the cost-of-doing-business crisis.
“As inflationary pressures ease, small firms will be wanting the Bank of England to indicate when interest rates may start to fall – this would increase access to finance, drive economic growth and provide a fighting chance at avoiding a recession.
“Businesses will be hoping for a stable environment characterised by more predictable market conditions and lower costs in 2024.”
Collaborating bus companies get approval for plan to enhance city services
Hull’s Bus Alliance has welcomed the Department for Transport’s decision to approve its plans for an enhanced partnership to deliver better bus services for the city and its passengers.
The Alliance, bringing together Hull City Council bus operators Stagecoach East Midlands and East Yorkshire Buses, produced an enhanced partnership plan and scheme.
The plan outlines the delivery of the objectives within the bus service improvement plan, including bus user feedback and preferences and measures to promote bus travel.
Bus services in Hull have been impacted by a number of challenges, including the Covid-19 pandemic and a shortage of drivers.
Stagecoach and East Yorkshire Buses have worked closely with Hull City Council to address these issues, and are excited about delivering enhanced bus services, as part of a joint commitment to public transport in the city.
Councillor Mark Ieronimo, cabinet portfolio holder for transportation, roads and highways at Hull City Council, said: “It is vitally important that we deliver the bus services that the people of Hull deserve.
“Bus operators have faced significant and unprecedented challenges over the past few years, which have affected services.
“Through the new enhanced partnership, the Hull Bus Alliance is looking to the future and working even more closely together to help make bus travel more efficient, reliable and attractive.
“By encouraging more people to choose bus travel, we can reduce congestion on our roads and make travelling around Hull a better experience for everyone.”
Matt Cranwell, MD of Stagecoach, said: “We are pleased to see that our long-term bus service improvement plan for Hull has been approved by the DfT.
“Our partnership, in the past, has delivered a number of initiatives that have benefited bus users in the city, which has been supported by significant funding from Stagecoach.
“It’s now important that we work closely together to implement further measures that assist buses to move around the city more easily and that will help ensure we provide a punctual and reliable bus service, as well as reduce journey times for bus users.
“It’s vital that buses within the city are supported, as a thriving bus network helps reduce traffic congestion, whilst reducing harmful emissions.”
Ben Gilligan, MD of East Yorkshire Buses, added: “Buses play a critical role in the connectivity and prosperity of the city, allowing people to move around as well as opening up access to jobs, leisure and education.
“This collaborative effort between ourselves, Stagecoach and Hull City Council represents a commitment to overcoming previous challenges and helping create a better network across the city for our passengers.”
Fond farewell as Manningham Housing Association Chair steps down
The Chief Executive of Manningham Housing Association (MHA) has paid tribute to the Bradford-based organisation’s Chair, Barrington Billings, who is stepping down at the end of December after more than six and a half years in the role.
Mr Billings has more than three decades of experience in the housing sector and is currently Head of Asset Management and Development at Tuntum Housing Association in Nottingham.
He is a former President of the Chartered Institute of Housing.
Lee Bloomfield said Mr Billings has played “an absolutely pivotal role in enabling MHA to establish a reputation as one of the most forward-thinking housing associations in the country.”
He continued: “Barrington joined us in 2017 following a regulatory downgrade. We needed a leader who could bring strength in governance and a unique blend of experience in both housing and non-executive roles. Barrington emerged as the beacon we sought, providing us with the guidance and expertise needed to navigate through challenges and steer MHA towards success.
“Under his direction, we have achieved the highest possible gradings from the Regulator of Social Housing and become the first housing association to be officially accredited for our work in promoting equality, diversity and inclusion – alongside numerous other awards.”
Mr Bloomfield added: “Barrington’s journey with MHA has been marked by a dedication to excellence, an unwavering commitment to governance best practices, and a wealth of experience that has truly enriched our organisation.
“We cannot adequately express our gratitude for Barrington’s dedication to MHA and the broader community. As we say farewell, we reflect on the positive impact he has had on our organisation and the countless lives touched by his leadership. His legacy of excellence, integrity and compassion will continue to inspire us in the years to come.”
Barrington Billings said: “Establishing our Community Investment Strategy and the range of community based initiatives that followed were proud highlights for me.
“Winning awards and accolades are always welcome, but these are merely recognitions of the critical grass roots work MHA have been doing in local communities.
“Of course, none of this success would have been possible without the solid and transformational leadership of our CEO Lee Bloomfield, Deputy CEO Ulfat Hussain and Director of Finance and Resources John Kent.
“Lee and Ulfat have both been there from the start of my time as Chair and stood with me shoulder to shoulder in the challenging early days of putting our house in order.
“The success of MHA could not have happened without our staff, our tenants and customers. The Customer Panel, led by MHA tenant Cath Bacon, has also been instrumental in scrutinising, reviewing and improving the services we provide.”
He added: “I am delighted to be handing over the reins to Rupert Pometsey our current Vice-Chair, who I regard as one of the best in the country.
“I will leave knowing that the organisation is in great shape and in good hands, ensuring that the vision and legacy of its founding members – in providing excellent housing and related services to local communities – will endure.”
Sheffield firm secures strategic home
Knight Frank’s Sheffield’s agency team, headed up by Peter Whiteley, has facilitated the strategic disposal of 10,000 sq ft of offices in the Meadowhall district.Located at the junction of Brightside Lane and Weedon Street, the 1980s-built Riverside Court complex, will become a new base for project leaders and associated contractors handling one of the city’s most important industrial developments. Purchased by Sheffield Forgemasters, teams working on the company’s new 13,000 tonne forging line and proposed new machining facility will take up residence in the two-storey building, relocating from the main site.
Peter Whiteley, partner and head of office at Knight Frank, said: “Sheffield Forgemasters is investing in the city of Sheffield through its recapitalisation project, bringing employment, commercial and property opportunities.
“It was important for the company to house the relevant staff on one site, also emphasising how crucial an office space with associated parking is in this type and scale of scheme.”
The engineering firm is undergoing a multi-million recapitalisation project which will see its work force almost double via on-site contractors, making space a premium at the 64 acre site.
Steve Marshall, Manufacturing Transformation Director at Sheffield Forgemasters, said: “The purchase of offices at Riverside Court offsets demands that the recapitalisation programme will place on existing facilities.
“Our employee count is more than 600 and contractors are set to number almost 500, so additional offices and car parking are essential to maintain productivity without any impact on our major recapitalisation works.”
Knight Frank acted for the owners of Riverside Court, while JLL represented Sheffield Forgemasters on its expansion in the Don Valley.
Lindum starts work on new homes for Lincoln City Council
Lindum Group has started work to convert an old garage site into 11 new affordable homes for City of Lincoln Council.
The project will bring a range of family properties, comprising two and three-bedroom homes, to Hermit Street. It is hoped the new homes will fill the gap for family homes within the area and create a sustainable community.
Procured through Pagabo’s Medium Works framework, each property will be council rented accommodation, equipped with air source heat pumps, two parking spaces, and an electric vehicle charging point.
At a groundbreaking ceremony hosted by City of Lincoln Council, Freddie Chambers, Lindum Group MD said: “As a local contractor with more than 400 employees based in and around Lincoln, it’s great to be involved in a scheme that will provide quality, affordable housing to this part of the city. It is particularly pleasing to see family homes being built within walking distance of the city centre, too.
“As well as carrying out construction, Lindum is working to bring additional value to the community. We are helping to bring forward a landscaping initiative covering Hermit Street, Portland Street, and a green space on Monson Street.
“We will also be looking to engage with the local Nest Nursery and Preschool, donating some logs for their outside area and hopefully getting the children to come on a visit at the site. As a local construction company, we will always look to prioritise improving the local communities in which we are working.”
Landmark leisure destination in Rotherham forges ahead as build programme enters final phase
Building work is on track at Forge Island in Rotherham as the flagship development enters the final months of construction ahead of opening to the public towards the end of summer 2024.
The new landmark destination, which will bring a much-needed family-friendly offer to Rotherham as part of Rotherham Council’s regeneration vision for the town centre, is being delivered in partnership with the Council, nationwide placemaker Muse and contractor Bowmer + Kirkland.
Work began on site in November 2022 and construction has continued at pace, with all topping out milestones due to be reached early next year on the cinema, Travelodge hotel and retail buildings – set to house a mix of independent eateries. Once construction completes at the end of spring, the tenants will fit out their premises ready for the scheme opening.
Local resident, 30-year-old Sam Clarkson, whose apartment overlooks Forge Island, said: “We’re on the seventh floor so we have a bird’s eye view of the development; all of a sudden it seems to have sprung up out of nowhere. I’m getting married next year and we have 400 guests coming, and having a trusted name like Travelodge, that everyone knows, on our doorstep is really great.
“Hopefully the development will have a domino effect and help put money back into other local businesses by bringing footfall into the town centre. It will give people more choice socially and bring more people in from other areas.”
Together with Rotherham Markets, the improvements are a key part of Rotherham Council’s large-scale regeneration plans aimed at breathing new life into the heart of the borough.
Rotherham Council’s Cabinet Member for Jobs and the Local Economy Denise Lelliott said: “These developments form the main cornerstones of the council’s multi-million-pound investment in Rotherham’s future.
“A number of major milestones have been achieved at Forge Island over the last 12 months, including the installation of a new pedestrian bridge, which connects to the town centre and which nods to the town’s rich engineering heritage and is inspired by the world-famous Bailey Bridge designed by Rotherham-born civil engineer, Donald Bailey, during the Second World War.”
Raife Gale, Senior Development Manager at Muse, said: “Developing a transformational scheme of this scale always comes with its challenges – not least the difficulties of building on an ‘island’ surrounded by water – so the fact we’ve remained on track is a testament to the hard work of the whole project team.
“It’s fantastic to see the impact Forge Island has already made on the town centre skyline, and we can’t wait for the community to come and enjoy all that it has to offer when it opens next year.”
Construction work on the £47m Forge Island scheme – which was announced as 100% let in October 2022 – is led by contractor Bowmer + Kirkland, working alongside the wider project team which also includes Arup, Helm Consulting, Arcadis and re-form Landscape Architecture. The new pedestrian bridge was designed by FaulknerBrowne Architects.
2024 Business Predictions: Gav Winter, CEO of RapidSpike
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Gav Winter, CEO of RapidSpike.
Everyday AI is revolutionising how we work by seamlessly integrating automation, data-driven decision-making, and personalised experiences into our personal and professional lives. This transformative technology streamlines tasks and empowers individuals with data-driven insights, enhancing their skills and efficiency across various industries. The first evolution of AI will not be AI taking our jobs; it will be those who can use AI effectively to do more people’s jobs and machine learning taking over logistics transportation.
For those who find themselves made redundant by AI, there is a need to reskill those people, so there is a considerable surge in the technology educational markets, especially in deprived areas. The drivers can become technicians for the new logistics sector, and those who found themselves out of a role will be reskilled to help create more AI integration; this is where we provide the basic universal income in the first instance to allow some of those people to follow a passion rather than a vocation.
Moving onto a subject closer to RapidSpike, changes in E-commerce and Online will be exciting. The future of websites themselves is poised for transformative change, focusing on immersive and interactive experiences, mobile-centric design for personalisation, and an unwavering commitment to enhanced data privacy and security. As technology evolves, websites will continue to adapt to meet users’ changing needs and expectations in an increasingly digital world.
Mobile-centric in the future doesn’t just mean your pocket device. It will be watches, glasses, TVs, intelligent walls and more. E-commerce platforms like Shopify and similar will provide technology to many leading brands, with less being done in-house on the basic structure and more 3rd party tools created to enhance small niche parts of the experience. Standing out will be about the online shopping user experience, zero tolerance for issues, expectation of speed and the product itself.
AR/VAR/AI combining to create a virtual fitting room. Advanced technology, including AI-driven virtual try-ons either on an avatar on a 3D model of yourself, haptic feedback for fabric feel, high-quality imagery, and AI-powered fit predictions and recommendations, will revolutionise the online fashion retail industry, offering immersive almost real world shopping experiences.
Voice commerce is gaining traction due to the growing popularity of voice-activated devices like smart speakers. E-commerce platforms must optimise their voice search capabilities to ensure customers can easily find and purchase products using voice commands. Creating voice-friendly shopping experiences will be essential to effectively tap into this emerging trend.
As we look to the future, sustainability is poised to take centre stage in the technology industry. Beyond addressing the environmental impact of devices and data centres, consumers and stakeholders will increasingly expect brands to take a comprehensive approach to minimising their carbon footprint. Online sustainability extends from managing energy consumption to optimising data centres and making eco-conscious website design choices. Keeping the per-user footprint low will be crucial, aligning technology with the growing global commitment to a sustainable future.
Croda’s Chief Financial Officer plans to move on
Croda’s Chief Financial Officer Louisa Burdett intends to leave the Snoath-based company next June to become Chief Financial Officer at Spirax-Sarco Engineering plc.
Anita Frew, Chair of Croda, said: “On behalf of the Board and all Croda colleagues, Steve Foots and I would like to thank Louisa for her contribution to the Company. Louisa will leave with our best wishes next summer and in the meantime, a search for her successor is under way.”
Croda confirms that trading is in line with previous guidance and Full Year 2023 Group adjusted profit before tax is still expected to be between £300m and £320m. Principally due to recent currency movements, notably in Argentina, PBT is expected to be towards the lower end of that range.
Supporting the vulnerable all adds up for audit specialists at RSM
Poverty-hit children will get help to keep warm this winter and bereaved families will be supported in coping with their loss thanks to the fundraising efforts of staff in the Hull office of global audit, tax and consulting advisers RSM UK.
The 100-strong team raised more than £25,000 from events ranging from food challenges to fitness training with Olympians and have handed it over to the Sailors’ Children’s Society, a charity founded in Hull over 200 years ago and now providing lifelines nationally to the families of seafarers in crisis; and Dove House Hospice, which is expanding its range of services. Natasha Barley, CEO of the Sailors’ Children’s Society, said: “What RSM did makes a massive difference. They raised a phenomenal amount of money and they had a lot of fun doing it. “The money will go towards our winter appeal, to provide winter coats and sturdy shoes for children across the country, which they would unfortunately not have without the support of the charity. If we have any extra it goes towards our winter heating grants as sadly there are a lot of children in this country who are cold and hungry.” Jonny Bottomley, Partnership Development Fundraiser for Dove House, added: “The money has come in at a really important time for us. The impact of Covid reduced our services right down to our bedded unit and we are working hard to reopen some of the provision that we had to close, and offer some new support. We have so far opened some outpatient services, community groups, and groups for child bereavement and general bereavement.” Andy Capes, office managing partner at RSM in Hull, said: “Our team in Hull, chose the regional charities to benefit as part of a nationwide fundraising effort. In total we raised £206,000 which was topped up by the firm to add another £100,000. Our local team took part in a charity race night, completed the Yorkshire Three Peaks Challenge, hosted cake and bake events, launched a tuck shop, dressed up as celebrities and superheroes and even ran York marathon all in aid of two important charities.” Other businesses supported the campaign by donating prizes and four companies – Forrester Boyd, MKM, Rix Group and Williamsons Solicitors – paid for some of their staff to join an elite training session at the Village Hotel with Colin Jackson and Jamie Baulch, medal winners at the Olympic Games, Commonwealth Games and World and European outdoor and indoor championships. That event took place on the eve of the Society’s sportsman’s lunch, which broke all records for the charity by generating more than £75,000. All involved are aiming to set a new record in 2024. Andy said: “We teamed up with Forrester Boyd for the Olympic event and had a great time, so much so we’re planning on sponsoring next year’s event together. Not only did we have a lot of fun, but we raised a record amount of much-needed money, and set the bar high for next year’s fundraising efforts.”New chocolate factory plans to educate manufacturing engineers of the future
A new chocolate factory is to open in Barnsley to inspire and educate the next generation of UK manufacturing engineers.
The ‘JJA Snack’ facility is an initiative by South Yorkshire-based JJA Pack – a global supplier of industrial chocolate-handling equipment to the likes of Mondelez and Premier Foods. It’s teamed up with long-term partner Siemens to create the advanced, commercially-viable chocolate manufacturing line, which will give young people hands-on experience with the pioneering technologies used to manufacture chocolate bars.
Thousands of school kids will have the opportunity to learn about where chocolate comes from and how its harvested, with pupils able to design a bar and create it on the JJA Snack production line. A group from Outwood Academy Shafton will be among the first to visit the site in Barnsley.
Meanwhile, engineering students will be able to learn about data capture, streamlining manufacturing processes, and energy efficiency.
The Sheffield Steelers and Leeds Knights ice hockey teams are among JJA Snack’s first customers for branded bars, with the facility also set to manufacture chocolate under its own name.
The factory is set to open as Timothée Chalamet and Hugh Grant star in Christmas blockbuster release Wonka, which tells the story of how the beloved Roald Dahl character Willy Wonka become a world-famous chocolate maker.
Jamie Ashpole, director at JJA Snack, said: “It’s so important that we inspire more young people to pursue careers in manufacturing to enable the sector’s future success. Creating an opportunity for students of all ages to get a taste for modern, industrial chocolate-making, is our way of helping to address the UK’s current STEM skills gap.
“It’s exciting to bring this project forward in collaboration with Siemens, which provides a window for young talent to see how industries are advancing with the help of digital technologies.”
Andy Lane, business development manager at Siemens, said: “The modern chocolate factory may look worlds apart from any Roald Dahl creation. But they’re equally exciting – enabled by groundbreaking technologies, including data insight powered by artificial intelligence.
“Chocolate can be an extremely difficult substance to handle due to its inclination to set and become solid. This can damage equipment and bring down-time to production lines, causing big brands millions-of-pounds in losses a week.
“This is just one of the engineering challenges that budding Wonkas at JJA Snack will learn about – alongside how manufacturers are using smart digital technologies to spot and remedy problems before they occur.”
JJA Snack will use cloud-based AI solution Insights Hub to provide a comprehensive picture of the production line’s performance, which can be accessed both remotely and in situ. Through the power of AI, the data collected is used to avoid machine downtime by predicting and diagnosing issues remotely.
