Rising number of start-ups in Yorkshire and the Humber

Tess Egginton
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Rising number of start-ups in Yorkshire and the Humber

There is some reason for cautious winter economic cheer with the latest research from the UK’s insolvency and restructuring trade body, R3, showing that all regions and nations across the UK, including Yorkshire and the Humber, saw an increase in the number of new businesses launching in January 2024 compared with the previous month.

According to the research, based on an analysis of data provided by CreditSafe, the number of start-ups in Yorkshire and the Humber rose by 39% from December 2023 to January 2024, with another 5,405 new businesses setting up in the region last month – over 1,500 more than in the previous month.

Some other regions and nations performed even more strongly with the North East seeing a 61% rise month-on-month; the South East up by 54%; and the South West and Wales experienced a 50% uplift. The lowest increases were in Northern Ireland with a 33% rise; and in the West Midlands, up by 35%.

However, there was a less rosy picture in Yorkshire and the Humber in terms of insolvency-related activity last month. While this type of activity (which includes liquidator and administrator appointments and creditors’ meetings) fell in all 12 regions and nations, Yorkshire and the Humber saw the smallest drop with a decrease of just 4.8% since December.

This means that in January, 236 businesses in the region were affected. The North East also saw a single digit drop in insolvency-related activity (-9.5%); followed by Wales (-13.3%); and the North West (-19.6%).

In contrast, the greatest decreases in insolvency-related activity were in Northern Ireland (down by 58%); followed by the South East (-35%); the East Midlands (-34.5%); and the South West (-33%).

Eleanor Temple, chair of R3 in Yorkshire and a barrister at Kings Chambers in Leeds, said: “It is certainly encouraging to see so many brave entrepreneurs across the UK having the confidence to launch a new business as we head into 2024, and also fewer businesses last month being impacted by insolvency-related activity.

“It is perhaps a sign that the tide is turning and people are starting to feel that the worst is over as inflation steadies and there is talk of possible interest rate drops later in the year.

“However, the UK economy is continuing to disappoint with inflation proving to be sticky, operating costs rising and consumer spending remaining under pressure. In such a difficult landscape, many businesses may be heading towards insolvency and would be well-advised to seek professional advice as soon as possible to avoid financial problems spiralling out of control.”

Acorn Construction boosted with six figure investment

Tess Egginton
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Acorn Construction boosted with six figure investment

A provider of indoor and outdoor scaffold-based temporary structures and staging is focused on growth after receiving a six-figure investment from NPIF – FW Capital Debt Finance, which is managed by FW Capital and is part of the Northern Powerhouse Investment Fund.

Headquartered in Sherburn-in-Elmet, Leeds, Acorn Construction works with clients from various industries and sectors including film, TV, festivals, concerts, exhibitions, parties, sports events, arts, and theatre. Clients include the BBC, Creamfields, ITV Studios and the Goodwood Festival of Speed.

The loan from NPIF – FW Capital has helped Acorn Construction to invest in the growth of the business and launch a new black Truss designed stage into the market. This is a unique product that offers a higher capacity loading for production equipment and a black structure instead of the traditional aluminum structures. Acorn Construction has also created ten new jobs.

Rebecca Nutter, Managing Director at Acorn Construction, said: “We’ve built up an established reputation for the quality and innovative nature of our staging and structures which suit a variety of uses.

“We have created this new stage following customer demand for a black structure that can withstand the increased load capacity that is needed at festivals and concerts due to all the lighting and staging equipment needed. It can be difficult to obtain funding for this type of asset but the flexibility of the investment from FW Capital has been important.

“On the back of this funding, we are also looking at other new opportunities to develop the business further. I’ve been happy with the support from FW Capital – Lindsey has taken the time to understand our business and provided us with a personal approach.”

Lindsey McMenamin, Portfolio Manager at FW Capital, added: “Acorn Construction operate in a niche market and is known for excellence in their field. This is another great example of how NPIF funding is helping business growth with the launch of a new unique stage in response to customer demand. I’m thrilled to be supporting Rebecca and the team on their journey to further success and expansion.”

Construction Risk Seminar to help build a safer future 

Tess Egginton
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Construction Risk Seminar to help build a safer future 

A must-attend event for professionals in the construction sector and the built environment will take place on Wednesday 28 February 2024.

From architects to groundworkers, join the Construction Risk Seminar, starting at 1pm at the prestigious 4th floor of the Vijay Patel Building in Leicester, LE2 7DP. 

What to Expect

Learn to Eliminate, Reduce, and Manage Risk; discover practical approaches to make your projects safer, healthier, and more profitable; Continuous Professional Development (CPD); and elevate your knowledge and skills through engaging discussions on risk management strategies tailored for the construction industry.  

There will also be opportunities to connect with like-minded professionals, from conceptual architectural designers and engineers to surveyors, developers, and associated trades and professions.  

Key Topics of Discussion:  

Cyber & AI: navigating the digital landscape in construction.  

E&O Design Liability: understanding and mitigating design-related risks.  

Employment: exploring legal aspects and best practices.  

Supply Chain, Imports, CE Marking, and Product: addressing critical considerations.  

Credit, Bonds/Surety: managing financial risks effectively.  

Late Defect/Building Warranties vs Collateral Warranties: ensuring long-term project success.  

Health and well-being in the industry.  

MMC (Modern Methods of Construction): embracing innovation responsibly.  

Contract Law (JCT/NEC/Collateral Warranties): navigating legal frameworks for successful collaborations.  

Esteemed Panelists:  

A distinguished panel includes experts at the forefront of the construction industry:  

Nick Taylor-Ward – ACII & Chartered Insurance Broker – Konsileo

Dr. Ronaldo CEng – Producument – Toshiba Mitsubishi Europe TMEIC

Kate Cheyne – Head of School – Arts, Design, and Architecture at DMU

Emma Tegerdine, Expert Employment Law Solicitor and Judge – gunnercooke LLP

Alice Bremner – Senior Credit Underwriter at Tokio Marine HCC International

Christine White – Professor of Art & Design, Director of the Design Unit, Deputy Dean Arts, Design and Humanities at De Montfort University

Stephen Woolf – CMIOSH CMaPS MIEMA CEnv – Group Compliance Director – Sigma

Tim Rugg – Professional Indemnity Underwriting Manager at Tokio Marine HCC

Schedule:  

1:00 PM: Registration and Networking   1:30 PM: Panel Discussion   3.30 PM: Q&A Session   4.00 PM: Networking and Refreshments  

RSVP Information:  

Don’t miss this opportunity to gain valuable insights, expand your network, and contribute to building a safer future for all. Book your place here.  

For further information, please contact CE East Midlands at alexander.tabb@deltasimons.com

Event sponsored by Konsileo

Optician’s £50k loan turns vision for firm’s future into reality

Stuart Pearcey
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Optician’s £50k loan turns vision for firm’s future into reality

Thanks to a £50k loan Leeds-based optician and eyewear business Eye Room has invested in stock and staff.

The money has come from NPIF through the Business Enterprise Fund and FFE Microfinance, part of the Northern Powerhouse Investment Fund.

Eye Room is owned and run by husband-and-wife team Tomas and Hafiya Oppedal, who turned to Business Enterprise Fund for the second time, having previously received a Start Up Loan from it.

This investment has resulted in the creation of one full-time job and one part-time job, while simultaneously safeguarding three existing positions.

Tomas said: “Our partnership with BEF has been instrumental in realising our growth aspirations. This NPIF loan has empowered us to better serve our community and expand our horizons.”

Mark Iley at BEF said: “Start-up and scale-up phases are two critical stages of business growth. We take immense pride in supporting businesses like Eye Room whose dedication to excellence is truly commendable. We are delighted to be part of their growth journey and wish them every success.”

Debbie Sorby, Senior Manager, British Business Bank said: “Eye Room’s ability to bring high quality services at affordable prices is crucial in the current economic climate, and it is something everyone can benefit from. The Fund is dedicated to investing in businesses serving the heart of its community, and meeting needs with accessible, high quality and essential products.

“With an increase in digital working, the demand for optometry services is growing, not least for products at affordable prices. As Eye Room expands it will inevitably increase its staff numbers, and the investment will play an important role in facilitating this job creation and security. We look forward to helping Tomas and Hafiya expand their customer base across Yorkshire and beyond.”

Lease renewal secures 11 jobs and paves the way for £500k refurb project

Stuart Pearcey
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Lease renewal secures 11 jobs and paves the way for £500k refurb project
Sheffield Kitchen Outlet’s Hillsborough Trade Point showroom is to undergo a £500,000 refurb in the wake of agreement on a new ten-year lease on the property. The renewal of the lease on the property, handled by Sheffield property law specialist Mason Thomas Law, has also secured 11 jobs at the site, home of the family-owned business since 2013. Stuart Hattersley, Operations Manager of SKO said: “Our site at Hillsborough Trade Point is a very important location for us. We have been trading here for more than 10 years and it has been instrumental in growing the business. “Thanks to the determination of Mason Thomas Law and our surveyors, SMC Brownill Vickers, we were able to secure a further 10 years on the lease on fair terms. This has enabled us to invest significantly in the site and secure the jobs of everyone based there. “We’re very proud to be a Sheffield business and also to be a member of Made In Sheffield, which recognises the quality and Yorkshire pride of the products that we manufacture. The lease renewal secures our future in the city,” added Stuart. Cathy Thomas of Mason Thomas Law said: “It was a particularly tricky lease renewal, but we are all delighted with the outcome, particularly as it has secured jobs and SKO’s presence in Sheffield for many more years.” The 47,350 sq. Hillsborough Trade Point multi-let trade counter business park is owned by Hepp Logistics.

H2H Saltend project gets planning permission from East Riding Council

Stuart Pearcey
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H2H Saltend project gets planning permission from East Riding Council

The H2H decarbonisation project at Saltend has been given planning permission by the East Riding of Yorkshire Council, strengthening its case in forthcoming Government competitions.

Equinor’s H2H Saltend is a 600-megawatt low carbon hydrogen production plant with carbon capture, one of the first of its kind and scale to be granted planning permission in the UK, helping to establish the Humber as an international hub for low carbon hydrogen whilst significantly reducing carbon emissions. The decision comes as the project prepares for a potential application into the Government’s forthcoming ‘Cluster Sequencing Track-1 Expansion’ process, is expected to launch this year to select decarbonisation projects in both the Humber and Teesside that can connect to the East Coast Cluster’s carbon capture transport and storage infrastructure by around 2030. Due to be operational around the end of the decade and sited at the energy intensive Saltend Chemicals Park, to the east of Hull, H2H Saltend will help to reduce the park’s emissions by up to a third. To achieve this, low carbon hydrogen will be used in chemical processes by both Saltend-based and other nearby companies, as well as directly replacing natural gas in several industrial facilities reducing the carbon intensity of their products. The project also forms part of Equinor’s ‘Hydrogen to Humber’ ambition to deliver 1.8 gigawatts of low carbon hydrogen production within the region, nearly 20% of the UK’s national 2030 target. These proposals seek to develop a hydrogen transport and storage hub network linking key sites primarily on the north bank of the Humber including Saltend, Easington and the Aldbrough Storage facility, via dedicated hydrogen pipelines. The H2H Saltend planning application was submitted to the East Riding of Yorkshire Council in July 2023. There have been three public consultation events in East Yorkshire and Hull since 2021 to present the project throughout the planning process, in addition to regular dialogues with local authority and parish councillors. No objections to the application were raised by any statutory body. The UK Government is expected to launch the Track-1 Expansion competition from 2024. It is the next step of the Cluster Sequencing process, following selection of the East Coast Cluster as a Track-1 Cluster and subsequent selection of a first phase projects in March 2023, when Humber projects were unsuccessful. Minister for Energy Efficiency and Green Finance Lord Callanan said: “CCUS clusters will be the starting point for a new industry in the UK, which is why we’ve committed up to £20 billion in early support and expect to bring forward 4GW of low carbon hydrogen production by 2030.” Derek Ho, H2H Saltend Project Director, said: “Receiving planning permission for this key project could help to kick-start multiple decarbonisation initiatives in the Humber, a vital region with a long-standing history for Equinor. It is an important first step in creating a low carbon hydrogen economy and achieving net zero in the Humber, safeguarding local industries and creating greater opportunities including new jobs and skills, whilst helping the UK to tackle climate change. “This decision comes at a very opportune moment, as we await the launch of the Government’s next phase of the Cluster Sequencing process for the Humber, and it puts H2H Saltend in a strong position, should we submit a bid.”

Government names more than 500 companies who’ve paid below minimum wage

Stuart Pearcey
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0
Government names more than 500 companies who’ve paid below minimum wage
A number of employers in our region are amongst a list of more than 500 employers named by the government for failing to pay the minimum wage. The 524 employers were found to have failed to pay their workers nearly £16 million in a clear breach of the National Minimum Wage law, leaving more than 172,000 workers out of pocket. Employers being named today include Sheffield’s Tuffnells Parcels Express which went  into administration last June, 2 Sisters Food Group from Wakefield, Morrisons Produce Ltd from Bradford, Cranswicj Country Foods from Hessle, and other major high street brands, in a clear message from government that no employers are exempt from paying their workers the statutory minimum wage. The businesses have since paid back what they owe to their staff, and have also faced financial penalties of up to 200% of their underpayment. The investigations by HMRC concluded between 2015 and 2023. Minister for Enterprise, Markets and Small Business Kevin Hollinrake said: “Employees deserve to get paid properly for the hard work they put in.

“While the majority of businesses already do the right thing and pay their staff what they are owed, today’s announcement sends a message to the minority who aren’t – that there are repercussions to undercutting hard work from their staff.

“Not all minimum wage underpayments are intentional, but the government has been clear that anyone entitled to be paid the minimum wage should receive it, and that enforcement action will be taken against employers who do not pay their staff correctly.” Independent Commissioner at the Low Pay Commission, Patricia Rice, said: “Since its introduction nearly twenty-five years ago, the national minimum wage has played a vital role in protecting the earnings of the lowest-paid workers in the UK.  At a time when the cost-of-living is rising, it is more important than ever that these workers receive the pay to which they are entitled.

“NMW underpayment not only cheats workers of their rightful due, it leaves compliant firms undercut by those who do not abide by the law. By naming the firms responsible for significant underpayment, we raise awareness of the nature and the scale of underpayment and encourage all employers to ensure that they fully comply with the law.”

University of York launches £45m institute focusing on safety of autonomous systems

Tess Egginton
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University of York launches £45m institute focusing on safety of autonomous systems
The University of York has launched the Institute for Safe Autonomy, a ‘living lab’ that provides research and development space for autonomous systems operating on the ground, underwater and in the air. The £45 million facility, the first UK research Institute to focus on the safety of autonomous systems, combines a range of experimental laboratories in robotics, advanced communications and quantum communications. It aims to provide research that demonstrates how to minimise the risks associated with these technologies, while exploring their potential to deliver impactful solutions for the benefit of society, the economy and the planet. The building will be officially opened by Dr Ruth Boumphrey, Chief Executive of Lloyd’s Register Foundation, a keystone funding partner aligned to the Assuring Autonomy International Programme, which aims to provide industry, regulators and researchers with guidance in assuring and regulating robotics and autonomous systems. Professor Miles Elsden, Director of the Institute for Safe Autonomy, said: “Safety assurance is key to underpinning public trust in these new technologies and is one of the key barriers to the take-up of Autonomous Technology, such as AI, in many sectors. “To do this right we need to consider a whole range of ethical, legal, regulatory and legislative dimensions as well as risk management and harm minimisation, which are the very areas we are focusing on here at the Institute for Safe Autonomy. “These technologies are already a big part of our daily lives, whether it’s part of your mobile phone, Smart TV, or vacuum cleaner, and yet there is a significant number of people that are wary of their development, and we have to ask why that is and how we can address those concerns by evidencing how safe they are for everyday use.” The purpose-built facility provides collaborative work and test spaces for more than 100 researchers across a variety of disciplines, including Computer Science, Engineering, Physics, Law, Management and Philosophy. Its safety experts work in partnership with academia, industry, government and civil society to research safe, ethical, real-world applications for autonomous systems. Researchers at the Institute are working on a range of projects, including how robots might be safely integrated into triage procedures in emergency hospital departments; how robots can be used in social care for basic domestic tasks; the safety assurances of beyond-line-of-sight drone use, and the security of long-range underwater quantum communications. The Institute is also home to a new £1.5m solar farm project, which aims to enable the Institute to become energy self-sufficient by 2025, generating approximately 170 MWh of power annually. Funded through the UK Research Partnership Investment Fund (UKRPIF) and constructed by Siemens, the solar farm will enhance the Institute’s research capabilities to develop and use autonomous robots and drones to independently inspect and maintain solar arrays. The Institute will provide work space for small and medium enterprises (SMEs) from both the UK and internationally, operating in the field of autonomous systems.

Witham Group ball raises £8,000 for four charities

Tess Egginton
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0
Witham Group ball raises £8,000 for four charities
Witham Group, a lubricant manufacturer with its head office in Lincoln, has raised £8,000 for four charities during its annual charity ball. The event, held in January at the Hilton Double Tree Hotel, brought together team members, customers, and suppliers in a collective effort to make a positive impact. “We are thrilled to announce that our annual charity event was a tremendous success,” said Nigel R Bottom, Witham Group MD. “This achievement is a testament to the generosity and dedication of our team members, partners, and supporters who have wholeheartedly contributed to these fantastic charities.” The £8,000 raised has been equally distributed among the following four charities: Lincs & Notts Air Ambulance, Teenage Cancer Trust, Help For Heroes, and Lincolnshire Rural Support Network. Witham Group has been fundraising for charities and supporting local communities for many years, and this latest event brings the total raised to £130,000.

Investment supports data protection specialist’s expansion

Tess Egginton
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0
Investment supports data protection specialist’s expansion

Investment from Finance Yorkshire is supporting a company specialising in data protection to grow its portfolio of clients.

ProvePrivacy, based in Bradford, is a secure, digital platform designed for data protection and information governance professionals to manage data protection compliance in their organisations.

A £74,200 investment from Finance Yorkshire’s business loans fund has enabled the business to drive marketing to gain more public and private sector clients. The investment is also supporting further development of the platform.

ProvePrivacy founder Mark Roebuck developed the platform after a career in data protection consultancy, leading large scale organisational data-led projects for blue-chip clients. It was clear during this time that there was a need for a solution to help organisations manage and monitor data protection compliance.

The introduction of GDPR led Mark to concentrate on his expertise in data protection and how organisations assess and minimise risks in the use of personal data.

Mark said: “My work in advising on GDPR led to the creation of the ProvePrivacy platform – I was working with organisations who were improving their systems to cope with GDPR and the risks associated with it.

“The platform supports organisations in the management of data as well as assessment to identify and minimise risks and demonstrate compliance, removing the need for a multitude of spreadsheets and allowing data champions of all skill levels to complete the necessary information.”

Mark carried out a proof of concept at Bradford City Football Club where he was previously an associate director. The platform was developed through the Covid 19 pandemic and launched 18 months ago.

Mark added: “I have been focussed on developing the product and now is the time to drive our marketing and build up our work particularly in the private sector. Finance Yorkshire’s investment enables us to do this while at the same time continuing to develop and enhance the platform’s features and functionality in line with data protection requirements and user needs.”

Alex McWhirter, chief executive of Finance Yorkshire, said: “Mark has brought his wealth of experience in the field of data protection to develop an intuitive product which responds to the needs of organisations where the use and governance of personal data is paramount. We are pleased to support him in the development of his innovative platform and the growth of the business.”

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