CHAMBER CONNECT Q. 22021 1-26.qxp_Chamberlink 19/05/2021 10:05 Page 16
Business News
Kris Wigfield, Managing Partner at Begbies Traynor in Sheffield
Businesses in rising distress Businesses in Sheffield are experiencing rapidly escalating levels of distress, despite Government support measures designed to avoid mass insolvencies. According to the latest Red Flag Alert data, published by leading independent business rescue and recovery specialist Begbies Traynor, numbers of businesses showing earlystage, or ‘significant’, signs of financial distress had risen by 29% since Q1 last year, to affect 5,138 firms in Sheffield. In the last quarter alone 665 more Sheffield businesses had begun to experience financial problems, a 15% increase on Q4 2020. The picture was reflected across the UK, which saw a 42% rise in symptoms of early distress, compared with the same quarter last year, immediately before the outbreak of the pandemic. ‘Significant’ distress rose by 15% quarter on quarter to affect 723,000 firms across the UK. Kris Wigfield, Managing Partner at Begbies Traynor in Sheffield, said: “It is enormously worrying that we are seeing distress levels rising so steeply across the board, despite the raft of support measures put in place by the Government to stave off widespread business collapse. “It is inevitable that Government support will have to be withdrawn at some point, and, coupled with the fact that the courts are still struggling to catch up with a backlog of cases brought against indebted companies, it seems likely that what we are seeing unfortunately is the calm before a very turbulent storm. “For small business owners in particular it can seem that there is nowhere to turn in the face of such large-scale financial challenges but seeking professional help should always be the first port of call.”
16 CHAMBER connect Spring 2021
Rob Burrow and Kevin Sinfield
Rugby legend helps tree planting charity campaign elcome to Yorkshire’s My Y personal membership was launched on Yorkshire Day, 1 August 2020, promoting Yorkshire across the globe and uniting those connected to the county by planting a tree for each and every member. Welcome to Yorkshire is now joining forces with the inspirational former Leeds Rhinos rugby league player Rob Burrow to launch a special Welcome to Yorkshire Rob Burrow Membership. The membership costs £30, and £5 from each membership will be donated to the MND Association and recorded in the MND Association Rob Burrow Fightback Fund. Pontefract born Rob was diagnosed with Motor Neurone Disease (MND) in 2019 and has since spoken publicly about his illness, raising awareness and inspiring his close friend and Leeds Rhinos Director of Rugby, Kevin Sinfield, to raise £2.7m in his ‘Seven in Seven Challenge’ (seven marathons in seven days) in support of people impacted by MND. Kevin Sinfield MBE said: “Rob is a proud Yorkshireman and loved playing for his county during his glittering career. This is a wonderful way for people to support the MND Association and help families just like Rob’s.” Over 2,000 trees have been planted since Welcome to Yorkshire successfully launched its personal My Y membership scheme, with plans for thousands more to follow
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in the coming months at sites across the county. High-profile celebrities with trees planted in their name include multi-awardwinning actor Sir Patrick Stewart, Yorkshire shepherdess Amanda Owen, gardening guru Alan Titchmarsh and the late Captain Sir Tom Moore. The global membership scheme with a range of options, includes offers, discounts, a much-coveted green Y badge and a donation to Welcome to Yorkshire’s dedicated charity, Yorkshire Cancer Research. Welcome to Yorkshire Chief Executive James Mason said: “Rob Burrow is an absolute Yorkshire legend and the team at Welcome to Yorkshire are honoured and proud to be joining forces with Rob to raise money for his chosen and incredibly important MND charity through our My Y membership, which also helps the environment by planting a tree for every single member.”
Kevin Sinfield and Welcome to Yorkshire CEO James Mason
Jenn Dodd, Regional Fundraiser for Yorkshire, Humberside and the North East at the MND Association, said: “We are so grateful to Welcome to Yorkshire and Rob Burrow for providing this exciting membership option where in addition to having a tree planted in your name you can also help support people affected by MND. We hope that the membership and trees will inspire future fundraising and awareness raising activities for people affected by MND, and that this will grow into a long-lasting legacy for Rob and the 5,000 other people living with MND in the UK right now.” Playing an important part in combatting climate change, trees remove carbon dioxide from the atmosphere and every six trees can help to absorb up to a tonne of carbon over a 50-year lifespan. Visit: www.yorkshire.com/becomea-member
