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EDITORIAL Simon Angear - Editor E: simon.angear@businessleader.co.uk Barney Cotton - Digital Editor E: barney.cotton@businessleader.co.uk
DESIGN/PRODUCTION Adam Whittaker - Senior Designer E: adam.whittaker@businessleader.co.uk Melissa Larkin - Website Development E: melissa.larkin@businessleader.co.uk Ben Matthews - Digital Communications E: ben.matthews@businessleader.co.uk
SALES Sam Clark - Business Development Manager E: sam.clark@businessleader.co.uk Emma Filby - Business Development Manager E: emma.filby@businessleader.co.uk
CIRCULATION Adrian Warburton - Circulation Manager E: adrian.warburton@businessleader.co.uk
ACCOUNTS Jo Meredith - Finance Manager E: joanne.meredith@businessleader.co.uk
DIRECTORS Oli Ballard - Publishing Director E: oli.ballard@businessleader.co.uk Andrew Scott - Managing Director E: andrew@businessleader.co.uk
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Business Leader targets North after office expansion
Business Leader’s ambitious growth plans have seen its parent company sign the lease on a second office building – as well as begin hunting for its first premises in the North of England. The Ascot Group – which comprises Purplex Marketing and Insight Data, as well as Business Leader – this month took possession of a new office block adjacent to its main headquarters. The move comes after the company enjoyed major growth in 2019; its 70-strong team has outgrown its former base and will now be split across the two sites. ‘Ascot Two’ will house 30 extra desk spaces, a conference/training cenre and a new boardroom. This in turn will free up space at HQ for a new tech, media and marketing hub, featuring a studio to record video content and podcasts. With plans to triple the size of the business in the next three years, expand the events team and launch several new ventures, projects and businesses, additional office space was vital – however, further steps in the growth journey are already in the pipeline.
Durham University launches new entrepreneurship institute
A new dedicated facility for business and entrepreneurship will be opened at Durham University following a ‘transformative’ £7.5m donation from a former student. Durham alumni Charles Wilson and his partner Dr Rowena Olegario’s financial contribution will fund the Wilson Institute for Small Business and Entrepreneurship at Durham University Business School. The Wilson Institute will provide entrepreneurs and leaders with support to develop those businesses to full potential.
Ascot Group CEO, Andrew Scott
Andrew Scott, CEO of Ascot Group, explained: “We have exciting plans to create a global media, marketing and tech business and our second home will help us build that. “We have employed a huge number of people in the last two years and Ascot Two will allow us to expand Purplex, Insight and Business Leader and continue our upward trajectory. It will help us develop our team skills further and attract the very best marketing, media and tech people. “And, after our successful opening in Bristol and London, Business Leader Magazine will now build on its presence in the Midlands and North by opening a dedicated office and recruiting an editorial and commercial team ‘on patch’. “The new office and team will spearhead a new era as we expand our editorial coverage and launch several major events to inform, connect and inspire entrepreneurs in the region.”
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Jaguar Land Rover to cut 500 jobs at Merseyside plant
British automotive giant Jaguar Land Rover (JLR) has announced it will cut up to 500 jobs at its Halewood plant on Merseyside. This is where the Range Rover Evoque and Land Rover Discovery Sport are built for customers around the world. The JLR plant employs around 4,000 people and said it will be offering an enhanced voluntary redundancy programme. JLR insisted the change, which was agreed as part of pay negotiations last year, was about efficiency rather than loss of volume, as the firm looks to reverse losses of round £2.5bn.
A company statement read: “Through its ongoing transformation programme, Jaguar Land Rover is taking action to optimise performance, enable sustainable growth and safeguard the long-term success of our business. Central to the Halewood manufacturing strategy, we are moving from a three-shift to a ‘two-plus’ shift pattern from April 2020. “This will deliver significant operating efficiencies at the plant, while enabling us to meet the growing customer demand for our new Range Rover Evoque and Land Rover Discovery Sport.”
IKEA announces first major UK store closure
Swedish retail giant IKEA has announced it will close its store in Coventry city centre this summer. The firm revealed the store had made continued losses since it opened in 2007, with fewer people visiting it than expected. IKEA said it would be speaking with the 352 workers affected by the announcement and would look to find them new jobs at its 22 other stores across the UK. IKEA stated it remains committed to growth in the UK. An IKEA spokesperson said: “Given its location and the size of the land available at the time, the store was built over seven levels, which resulted in a significant impact on the operating costs of the store and the shopping experience for customers. “In addition, the changing behaviour of customers in the area who prefer to shop in retail parks and online has resulted in visitor numbers being substantially lower than expected and continuing to decrease over time.”
OakNorth agrees £50m funding deal with ‘highlyimpressive’ housebuilder Hayfield
Midlands housebuilder Hayfield has secured £50m in funding from OakNorth Bank to accelerate plans to create 500 new homes a year until 2022. The Solihull-based firm has completed a debt finance deal with OakNorth which will enable it to add to a ‘strong reputation for providing high-quality homes’. The developer will use the bespoke finance package from OakNorth, arranged by London-based Reality Wealth Ltd, to accelerate its growth ambitions and deliver 500 homes per annum over the coming 36 months. Mark Booth, Managing Director of Hayfield, said: “This new capital structure will enable Hayfield to quickly lose the newcomer badge and will allow us to realise our aspiration to become an established medium-sized institutional quality housebuilder of note.”
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New funding deal for flagship £90m Liverpool development
Liverpool’s Baltic Triangle
A £20m finance deal has been agreed between Legacie Developments and Maslow Capital for a flagship residential and retail scheme at Liverpool’s Baltic Triangle. Work on the Parliament Square development, which has an overall value of £90m and will see the construction of 500 contemporary state-of-the-art apartments across four blocks, began last October. The transformative scheme will include a public plaza with restaurants, boutique shops and a gym for residents. Legacie Developments founder John Morley said: “The significant financing we have secured from Maslow Capital is a massive vote of confidence in our work and a major boost for the prestigious Parliament Square development.” Maslow Capital Co-founder and Deal Originator, Chris Blowers, said the deal confirms Liverpool’s status as a positive location for residential investment. He said: “Legacie Developments has a track record of delivering high specification, quality residential developments. This, coupled with Liverpool’s economic growth and appeal as a destination to live and work in recent years, made the funding of this development extremely attractive.”
Podcast Host and Newable Avitus Business Development Director Morgan Pierstorff
America Made Easy? New podcast helps SMEs streamline US expansion
Opportunities abound for ambitious British businesses eyeing a US expansion. America is the largest consumer market in the world with over 265 million consumers. Its £16.8tn economy accounts for a quarter of the world’s GDP and is eight times larger than the UK (even California’s economy is bigger). Much has been written about the ‘special relationship’ between the UK and the US, but any UK company that’s tackled the American market will tell you there are plenty of obstacles along the way. With scale comes complexity and America is far more complex from a regulatory, tax and even cultural perspective than most UK business owners realise. Rather than learning the hard way, UK SMEs would be wise to consider how best to route their US expansion and seek help along the way. The America Made Easy Podcast helps SMEs tackle the complexity of setting up and growing their business in the American market. In season one, the podcast, produced by the transatlantic joint venture Newable Avitus, will be exploring the operational elements of scaling your business in the American market, speaking with experts on topics ranging from culture to tax to talent as it seeks to help SMEs map and execute a successful US expansion strategy. If you are leading or are part of a team responsible for executing a US expansion, regardless of whether you are at square one or have been in the US market for years… if you have wished you could test your business in the US market before fully investing, the America Made Easy Podcast can help you streamline your operations and growth. For more information and to subscribe to ensure you never miss an episode, visit: https:// newable.co.uk/advice/americamade-easy/
Iconic British motorbike firm crashes into administration
Leicestershire-based motorbike manufacturer Norton Motorcycles has fallen into administration. The windingup order was given to the firm after it struggled to pay a tax bill. Founded in 1898, Norton Motorcycles is one of the country’s last remaining homegrown motorcycle brands, and has been an iconic name within the sport and the movie industries. Norton’s factory in Castle Donington has about 100 staff, and their futures with the firm are currently unknown. Global accountancy firm BDO has been appointed as administrator. Lee Causer, Partner at BDO Birmingham branch, said: “We are taking all necessary steps to ensure that customers, staff and suppliers are supported through the administration process.”
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New Birmingham Canal housing development plans approved
Plans to build more than 750 new homes on a derelict site on Birmingham’s Main Line Canal have been approved by Birmingham City Council. Joint venture partners Galliard Homes and Apsley House Capital’s proposed scheme at Soho Loop was given the green light in early February. The decision paves the way for the £165m urban regeneration scheme, which will comprise 102 two and three-bedroom townhouses and 650 one and two-bedroom apartments, more than 10,000 sq ft of commercial space, new public realm, parks and gardens, and shared amenity spaces. Called Soho Wharf, the scheme has been designed and by Claridge Architects, which worked with the joint venture partnership on its Timber Yard development in Southside. Stephen Conway, Executive Chairman of Galliard Homes, said: “Our vision for Soho Wharf is to deliver a residential-led, mixed-use scheme that will be truly transformative for Birmingham. We are pleased the council shares our vision for the site.”
Soho Wharf, Birmingham
Apprentice winner Michelle Dewberry to drive BigChange expansion
LDC announces launch of Newcastle office
LDC, the private equity arm of Lloyds Banking Group, is set to open a new office in Newcastle city centre, further extending the firm’s footprint across the UK. The new office signals LDC’s ambition to support the growth of mid-market businesses in every region. Situated on Grey Street in the heart of Newcastle’s business district, the new office covers 3,000 sq ft. The firm currently has over £100m invested in portfolio companies across the region including Newcastle-based NBS and Northumberland-headquartered Mandata. Martin Draper, Chief Executive of LDC, said: “The North East is an increasingly attractive proposition for private equity investors so opening a new office in Newcastle and extending our team felt like the perfect way for us to cement our commitment to the region.”
8 BigChange, the mobile workforce management technology company, has hired Michelle Dewberry as an ambassador. Dewberry will support sales and marketing activities for the BigChange Collaboration Network, which allows customers to win new business, collaborate with suppliers and contractors, and deliver services more efficiently through the BigChange platform. Broadcaster and businesswoman Dewberry shot to fame in 2006 when she won the second series of BBC reality TV show The Apprentice. Dewberry commented: “BigChange is an amazing company with a fantastic workplace culture and the potential to make a big positive difference globally.”
New £90m designer outlet village in north of england unveiled
Plans to build an outlet shopping and leisure destination in the North of England have been unveiled, along with the first 23 brands to sign-up including Calvin Klein, Tommy Hilfiger, Adidas, Levi’s, Mint Velvet, Joules, Gap and Skechers. Scotch Corner Designer Village, in North Yorkshire, will become the pre-eminent outlet destination for the region. The 250,000 sq ft scheme will feature up to 92 units in the first phase, 10 of which will be a range of restaurants and cafés. The developer, Scotch Corner Richmond LLP, is investing £90m into the scheme. Simon Waterfield, developer and coowner of Scotch Corner Richmond LLP, said: “Our vision is to create a retail and leisure destination that will appeal to customers from near and far. With no other major outlet centres within a 60-minute drive, and nearby towns generally providing a lower-priced fashion offer, we feel confident that we will add to the appeal and prosperity of the region.”
Yorkshire fertiliser development firm secures £405m rescue deal
A £405m rescue deal has been announced that will see Yorkshire-based fertiliser development firm, Sirius Minerals fight off administration – saving more than 1,000 jobs. The Anglo-American company received financial backing from shareholders, and plans are in place to create a new fertiliser mine in North Yorkshire. Shareholders were told if they did not support the rescue deal, the firm would imminently collapse. Sirius Minerals Chairman Russell Scrimshaw said: “The positive outcome secures a return for shareholders, and provides greater certainty in terms of safeguarding the project and protecting the jobs of our employees.”
£350m arena vision unveiled for Manchester
One of the world’s leading venue developers has unveiled ambitions for a new £350m arena at the Etihad Campus in Manchester. Oak View Group (OVG) is preparing a planning application which is expects to submit ‘in the coming weeks’ for a venue which would prove to be the largest of its type in the UK. The firm says the 23,500-capacity venue ‘would bring a whole host of benefits to the entire city of Manchester and the UK’. It says the development would boast ‘cutting-edge audio and visual technology’, and its private investment of £350m would be ‘the most ever spent on an arena in the UK or in Europe’. A spokesman added: “From the start, OVG has also ensured that sustainability and inclusivity is at the heart of this project, as well as engaging with and involving the local community.” The ambition is to build the new venue on Manchester City’s Etihad Campus, and the hope is that it will attract major names from the world of music, as well as a wide range of sporting events such as basketball, hockey, martial arts, entertainment and more.
Proposed Manchester Arena
It is expected to create 3,500 jobs during the construction phase, as well as 1,000 permanent jobs once it is up and running. OVG is already behind major projects in New York, Milan, Seattle and Austin, but the Manchester vision would represent its first UK development. If its Manchester plan wins the approval of city planners, it could be up and running as early as 2023.
