News

The Kent and Medway Business Summit returns on Friday 13 January 2023 in the awardwinning Sibson building on the Canterbury campus of the University of Kent.

Organised by the Kent Business School, in association with the Federation of Small Businesses and the Institute of Directors, the Summitbrings together over 300 businesses, key policymakers and leading academics. The sixth annual Summit will focus on the latest news from key projects in the county as well as leading expert speakers. Alongside the keynote speeches, collaborative workshops will facilitate debate on topics including productivity, sustainability, place-making and skills.

THE KENT AND MEDWAY BUSINESS SUMMIT RETURNS

Confirmed keynote speakers include Cllr Roger Gough, Leader, Kent County Council and Richard Hicks, Director of Place, Deputy Chief Executive, Medway Council. There will be four panel sessions for delegates to attend.

1 Placemaking – Can ‘Brand

Kent’ draw and retain investment, businesses, jobs and talented people?

Chair: Richard Hicks, Director of Place, Medway Council. Panellists: Emily Dawson, Lower Thames Crossing, Graham Galpin, High Street Expert, Professor Samer Bagaeen, Kent School of Architecture and Planning, University of Kent

2 Skills – Developing Culture.

How can building loyalty and diversity in the workforce impact on skills, training, retention, and recruitment?

Chair: Professor Nicholas Clarke, Deputy Dean (Planning and People), Kent Business School Panellists: Rebecca Smith, CEO, Social Enterprise Kent, Sapphira Waterson, CEO, Management Development Services (MDS), Michelle Clarke-Cowell, Associate Director, Holiday Extras

3 Productivity – How can digital tools boost profits and drive measurable efficiency improvements?

Chair: Catherine Robinson, Deputy Dean (Medway), Kent Business School

Panellists: Harry Dance, Digital Marketing Director, KAYO Digital Limited, Dr Maria Balta, Researcher in business model pivoting through the use of digital technologies, Kent Business School. Further panellists to be announced.

4 Sustainability – Funding your green future. How sustainability can improve your business' bottom line.

Chair: Martin White, Founder, Green Business Panellists: Susan Elliott, Senior Manager, Southeast UK British Business Bank, Paul Gannaway, Director, b&m, Josh Pitman, Manager Director, Priory Direct, Lisa Carlson, Chief Executive Canterbury Business Improvement District.

Tickets to the Summit cost £40, including refreshments and a sustainable Kentish buffet lunch.

For full details and to book tickets visit https://thegulbenkian.co.uk/ events/the-kent-and-medwaybusiness-summit/

LOWER THAMES CROSSING PLANS

accepted for examination

On 28 November 2022, the Government’s independent planning authority, the Planning Inspectorate, confirmed it has accepted National Highway’s application for a Development Consent Order (DCO) for detailed examination of the Lower Thames Crossing project.

National Highways submitted its planning application for the road project on Monday 31 October following a comprehensive programme of assessments, consultation, and engagement with its stakeholders and communities. The project has been shaped by almost 95,000 consultation responses.

The decision to accept the application means the Planning Inspectorate is satisfied that National Highway’s consultation was conducted properly and a rigorous examination of the proposals by a panel of independent, government-appointed experts can begin at a date set by the Planning Inspectorate. Should consent be granted, construction could start as early as 2024. The planning process is likely to take around 18 months including 6 months of examination, some taking place at public hearings. National Highways will provide information to local communities and road users to keep them informed of the process and how they can participate and provide their views on the proposals. Ahead of the examination, the public can register to become an Interested Party by making a Relevant Representation to the Planning Inspectorate.

Matt Palmer, Executive Director for the Lower Thames Crossing said: “The Planning Inspectorate has accepted that our comprehensive programme of consultation and design development has been undertaken properly, meaning our plans can now be taken forward for robust and thorough examination by independent, government-appointed experts." National Highways is designing the Lower Thames Crossing to be the greenest road ever built in the UK. A tunnel was chosen rather than a bridge to avoid protected wetlands and marshes, seven green bridges would provide safer crossing points for people and wildlife, and viaducts are planned to protect a nearby flood plain. Over 60km of new or improved pathways would be made available for walkers, cyclists and horse riders. The scheme is also a Pathfinder project, exploring carbon neutral construction, and is the first UK major infrastructure project to put carbon reduction at the heart of its procurement process, where contractors incentivised to drive down carbon at every step, and throughout the supply chain.

The number of registered company insolvencies soar with latest figures indicating little relief for businesses as costs continue to climb

National audit, tax, advisory and risk firm, Crowe, also announces the appointment of Insolvency Practitioner, Mark Holborow as it bolsters its Recovery Solutions practice.

Government statistics released on 14 October 2022 for the month of September 2022 show that the number of registered company insolvencies in September 2022 was 16% higher than the same month in 2021 and 11% higher than the number registered three years previously (pre-pandemic). These figures, together with current economic pressures, indicate little relief for businesses or individuals in the short to medium term.

With inflation topping 10% in September 2022 and forecast to peak around 11% in the next few months, household incomes and consumer confidence will continue to be under pressure, with knock on impact for business on both demand for goods and also employees pushing for substantial pay rises. While the government has announced a business energy price cap until 31 March 2023, the rate has been locked in at nearly double the unit price that businesses were paying in 2021. The shortterm stability will be gratefully received over the winter months, however the squeeze on margins remains. Prudent management teams will also need to have an eye on what they may be paying come 1 April 2023 and plan ahead for how the business can adapt to afford it.

Many businesses have struggled through the period of the pandemic and are now facing financial difficulties due to repayment of government loans, in certain industries significant increase in material costs and lack of labour. A sharp increase in the general cost of living has also affected the hospitality industry.

Vince Green, Head of Recovery Solutions at Crowe says “What the statistics cannot show us is the level of restructuring advice and solvent rescue work which is also being undertaken. Much of the work undertaken by most insolvency practitioners is to help businesses avoid a formal insolvency procedure by taking early advice and working with their key creditors and other stakeholders to restructure and find a consensual solution that shares the burdens and benefits.”

The Crowe Recovery Solutions team has seen an increase in requests for support and advice in recent months and given the expected continued pressure for businesses through 2023 it has bolstered its Recovery Solutions practice with the appointment of new insolvency practitioner, Mark Holborow. Mark is an experienced appointment taker to support partners, Vince Green and Steven Edwards as well as the wider team.

Vince Green, Head of Recovery Solutions, commented “We are very pleased to announce that Mark Holborow is joining our team to complement our services offered to the local and national business community. Mark’s expertise and skills will further strengthen the services that we are able to provide in respect of general advisory and the restructuring market. Mark is well known in the local business community and we are confident that he will be a great addition to our team.”

Mark Holborow, Director and Insolvency Practitioner at Crowe added “I am looking forward to working with Vince and Steven to continue building the Recovery Solutions service line. Crowe already has a fantastic breadth and depth of services nationally and I’m excited about the opportunity to use my prior experience of advisory and restructuring work to help shape the future of Crowe’s restructuring practice.”

Please get in touch with Vince Green, Steven Edwards or Mark Holborow who are licensed insolvency practitioners, or your usual Crowe contact.

www.crowe.co.uk