8 minute read
News
Midlands business owners can’t survive another lockdown
Business owners in the Midlands have claimed they have little to no funds to see them through another lockdown, a study has found.
The survey of 200 business owners in the region, commissioned by Prime Accountants Group, found that almost 70 per cent of businesses did not have the means to survive a rainy day, with close to a third not even knowing how much money is currently in their business account.
It also emerged that almost 90 per cent of business owners across the Midlands don’t even have a contingency plan in place if a key person in the business was to pass away or leave suddenly.
Unsurprisingly, of those surveyed, almost 50 per cent claimed their business significantly suffered with the onset of the pandemic.
Kevin Johns, managing director of Prime Accountants Group, which has offices in Solihull, Birmingham and Coventry, said: “COVID-19 and various lockdowns over the past 18 months have led to a sharp rise in unemployment and business failure, which is not surprising.
“However, the results of the survey show that most businesses seem to be living in the present and not planning effectively for a brighter future.
“While I do understand it is important to endure these uncertain times as best as possible, businesses will significantly benefit if they take the time to plan and implement financial strategies that can impact and improve their future.
“Cashflow management is so important, now more than ever before. Cashflow is essential and while it is fantastic to have a budget at the start of the year, it needs to be used wisely and reviewed regularly to ensure that concerns are addressed and you are making all the right moves to secure higher profits.”
For more information visit www.primeaccountants.co.uk
Hospitality company to bring major heritage attraction to life
The team behind Coombe Abbey Hotel is set to manage St Mary’s Guildhall when it opens later this year after £5.6 million of investment and redevelopment.
Coombe Abbey Park will be appointed to operate St. Mary’s Guildhall and will draw on the expertise and resources of No Ordinary Hospitality Management to deliver an exciting heritage programme and visitor experience, and develop the marketing to attract more visitors.
The company has been formed after transforming Coombe Abbey’s commercial operations, which include new and refurbished food outlets and a highly successful Go Ape tree-top adventure.
St Mary’s Guildhall sits next to Coventry’s Cathedral and dates back to 1352. The redevelopment programme is underway with the aim of ensuring that the Guildhall takes its place in the city’s visitor offer for residents and tourists, and grows its reputation and customer base.
Richard Harrison, managing director of No Ordinary Hospitality Management and Coombe Abbey Park, said: “St Mary’s Guildhall is a truly iconic building of national importance within the city centre and we believe it has massive potential for a wide range of events.
No Ordinary Hospitality Management will operate through Coombe Abbey Park for the contract, which will also establish the Guildhall as a venue for weddings, events and conferences.
From the left, Richard Harrison, Cllr David Welsh and Ron Terry
Cllr Jim O’Boyle, cabinet member for jobs, regeneration and climate change at Coventry City Council and member of the shareholders panel for Coombe Abbey Park, said: “This is an important milestone because it means we can start gearing up for opening during our year of UK City of Culture.”
For more details visit www.stmarysguildhall.co.uk and https://noordinaryhospitality.com/
Service investment delivers excellent client experience
Employment and safety specialist AHR Consultants has further demonstrated its commitment to client care by investing in the development of its service.
The Rugby-based consultancy firm, which supported over 300 employers throughout the COVID-19 pandemic, has built on last year’s recruitment surge by enhancing its approach to client care.
While overall client satisfaction levels were at 96% during 2020 (based on a client satisfaction survey), the firm’s management team has led a strategic review into client feedback during this summer, looking to provide an improved experience across its HR, employment law and safety divisions.
As a result, AHR Consultants has invested in a cloud-based suite of internal systems which facilitate shorter lead times at all levels of the organisation. This means even faster responses to incoming enquiries, reductions in overall case resolution time and more control over the experience for clients.
The newly introduced systems are a welcome addition to the existing client care programme at AHR Consultants, which already sees its advisors following up matters with client care calls, alongside an online client portal which is regularly updated with actionable toolkits and documents.
The firm also delivers a collection of free webinars throughout the calendar year, while adopting a multi-channel approach to its consultancy operation with online training sessions and 24/7 business support.
Simon Howes, managing director at AHR Consultants, said: “We have introduced new internal systems to allow us to work closer to our clients, continue understanding their strategic aims and ultimately allow them to gain maximum use of our service.
130 new jobs on offer as firm clinches new Warwick office deal
An engineering group is creating more than 100 jobs after completing the purchase of new offices in Warwick through commercial property experts Bromwich Hardy.
Global engineering, design and recruitment firm Contechs says it has vacancies for up to 130 designers to work from its new offices at Grand Union House on Budbrooke Road.
The £1.5 million sale of the two-storey building, land, and plant and machinery was concluded by Bromwich Hardy partner David Penn – and marks the latest in a string of high-profile successes for the award-winning Coventry-based firm.
Contechs, which is headquartered in Warwick and has offices in Basildon, Germany, the USA and India, says the new offices will house designers working on all aspects of electric vehicles and allow it to expand its manufacturing base at its existing Warwick site.
Managing director Peter Jarvis said: “The new site is alongside a canal, light and airy and will be perfect as a base for our specialist design consultancy business. The move will also allow us to devote more space to manufacturing at the existing site just up the road.
“We work on all aspects of design for electric vehicles including bodies, chassis, battery trays, interiors and trim and are expecting to generate up to 130 new jobs through this expansion.
David Penn, who acted for the vendors, said: “We are delighted to have concluded this sale to Contechs, which is one of the region’s most successful companies.
“The demand for high-quality, modern office space which is conveniently located remains healthy in spite of the pandemic and its impact on working practices. We expect this to continue for some time yet.
The offices at Budbrooke Road
Pictured: Glenn Harris, Chief Executive, Midland Heart
Housing association Midland Heart has maintained its industry-leading governance and financial viability ratings.
Following an in-depth assessment by the regulator for social housing in April, the 34,000-home association has maintained its G1/V1 rating. A score of G1/V1 indicates the highest of four possible grades for both governance and financial viability.
Midland Heart, which is one of the region’s largest providers of affordable homes, took early steps
Midland Heart maintains industry-leading rating
during the pandemic to make sure it could continue to deliver services to customers in a COVID-secure way, ensuring improvements to customers’ homes weren’t postponed and that staff didn’t face the uncertainty and disruption of furlough.
John Edwards, chair at Midland Heart, said: “I’m very proud that we’ve maintained both our top rating governance and financial viability as we continue our work to deliver first-class landlord services to our customers and build as many affordable homes as we can across the region. This rating is a true testament to the dedication and hard work of our colleagues.”
Glenn Harris, chief executive at Midland Heart, added: “Last year, despite the operational challenges provided by the coronavirus pandemic, we maintained over £100 million investment to improve the comfort and safety of our customers’ homes, including installing over 1,100 new bathrooms and kitchens and building new affordable homes.”
Midland Heart has also built 350 high-quality, affordable homes in 2020/21 and agreed a new plan to deliver 4,000 new affordable homes across the region by 2025.
