8 minute read
business bulletin
from Forum Summer 22
summer 22 business bulletin
Bringing you the latest developments, breaking news and exclusive updates from Entrepreneurs' Forum members…
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Rob Young, Governor at HMP Low Newton; Beverley Toone, New Futures Network; Ian Baggett, Founder CEO of Adderstone Group, and Chair of HMP Northumberland and Low Newton Employment Advisory Boards (EABs).
Adderstone Group CEO to chair board helping prison-leavers back into employment Adderstone Group's Founder CEO and former North East Entrepreneur of the Year, Ian Baggett, will chair the HMP Northumberland and HMP Low Newton Employment Advisory Boards (EABs) – an initiative designed to welcome prison-leavers back into sustainable employment. A Ministry of Justice backed scheme, the EABs connects HMPs with business networks across their region, helping prison-leavers to secure paid work and enabling businesses to grow their workforce. Ian expressed his delight at the scheme that’s changing lives, "Recruiting ex-offenders might not be a classic HR strategy but the evidence does stack up. Everyone needs a job and a purpose in life. Our day job is regenerating and enhancing built environments, so why wouldn't we do our bit to help safeguard communities too? It's unbelievably rewarding to watch someone thrive on the back of a second chance. I'd encourage employers across the region to get involved and not just out of social responsibility. The vast majority of ex-offenders are extremely loyal, productive and hardworking, so it makes great business sense."
Game-changing partnership between ION and Stripe confirmed Newcastle based FinTech company, ION, has recently announced they have joined Stripe’s Partner Ecosystem (SPE) to become a strategic partner. Stripe, a leading global technology company that builds payments infrastructure for internet usage, has appointed ION as a strategic partner for billing implementation in the UK - a move that will see the company supply fully integrated payment and billing infrastructure to mid-market businesses. Stripe currently offers over 135 currencies and dozens of payment methods, automated billing, revenue recognition and global tax calculations covering 35+ countries. A game-changing deal for ION, the move will see both companies collaborate to accelerate cash collection for mid-market organisations through the implementation of ultra-modern financial infrastructure and technologies.
Ringtons capitalise on soaring biscuit boom to record a 10% rise in turnover Surging sales in tea and biscuits have resulted in a promising 10% lift in turnover at local tea manufacturer, Ringtons. A North East institution that celebrates its 115th anniversary this year, Ringtons recently published their end of year accounts detailing how the family firm has bounced back from the pandemic as sales exceeded pre-covid levels. Looking to the future, the Byker-based business is beginning to modify its operation for greener, more sustainable technologies having purchased two electric delivery vehicles in 2021. Ringtons have their eyes firmly set on capitalising on their strong financial footing with the implementation of eco-friendly operations.
The Lakes Distillery named World's Best Single Malt Whisky The likes of Glenmorangie, Bunnahabhain, Aberlour and Kavalan will be looking over their shoulders after Cumbria-based business, The Lakes Distillery, was awarded the World’s Best Single Malt Whisky at the Whisky Magazine Awards. Situated near Bassenthwaite Lake, Keswick, The Lakes Distillery claimed the top prize after an expert panel placed their Whiskymaker’s Reserve No.4 top of the class - no surprise, given this particular drop is renowned amongst aficionados for its rich manuka honey notes and velvety blend of rich spices. It’s a huge result that places the North of England on the nose of whisky connoisseurs across the globe.
Robson Laidler Accountants play pivotal role in launching luxury hillside huts in rural Northumberland Advisers at Robson Laidler Accountants have helped realise a married couple’s luxury venture with the completion of four high-end staycation experiences situated in a half acre of luscious woodland. Having forged a career organising safaris to Africa and the Indian Ocean Islands, Phillip Gregory and his wife Fiona, set their sights on creating a brand new luxury glamping concept using recycled materials and locallysourced products, yet needed the expertise of RLA to guide the project through building requirements and the financial uncertainty of the pandemic. Throughout the project Robson Laidler provided Philip with cash flow forecasts, budget analysis and regular business coaching, all of which allowed him to release his personal investment for the couple’s dream to soar.
Big year for region’s premier science park The North East Technology Park (NETPark) is a regional success story, home to innovation and technological advances thanks to its range of exciting companies stretching the boundaries of the possible. From humble beginnings in 2005, the park now plays host to over 40 companies employing 600 people. In fact, the site has become so successful that it will see a huge £50m expansion to accommodate the growing businesses there and to attract new ones to the campus style location. Its success stems from the approach Business Durham, who manage the site, take in working with those companies and encouraging collaboration between them and the other organisations on the park. Those other organisations, strategic partners, include world top 100 Durham University who have established their own Enterprise Zone ‘Orbit’, aimed at supporting science and technology businesses either at start-up stage or established and growing. The Centre for Process Innovation (CPI) is the other key partner onsite, home to their National Printable Electronics Centre, National Formulation Centre and National Healthcare Photonics Centre. They help to bridge the gap for academia, industry and government between innovation and commercialisation. NETPark’s offer doesn’t stop there. It is the only UK Science Park with two National Catapult Centres, The High Value Manufacturing Catapult, managed by CPI and the North East Centre of Excellence for Satellite Applications managed by Business Durham and supporting the region’s successful and growing space sector. "NETPark offers a unique opportunity for our growing science and technology businesses in the region," explains Sarah Slaven Managing Director of Business Durham. "It’s setting, a campus style of lowdensity buildings in a rural setting, allows the tenants room to breathe, not worrying about commuting to a city centre, whilst being well connected with the A1(M) five minutes away." "As a selling point, environment is a very important aspect of our achievements at NETPark. As well as the green spaces in and around the park, we have developed an environment of support and cooperation between the businesses, our strategic partners and the excellent staff we have at Business Durham." Business Durham is the business support service for Durham County Council, and works with companies large and small, new and established across a variety of sectors, managing a portfolio of property enabling the county’s businesses to thrive and grow. "We’re at a very important point in the development of NETPark. Later this year we will see building work start on phase three of the park with its £50m expansion. Businesses are growing here, others in the region and beyond are keen to be part of the success story. The site is nationally significant in supporting the continued growth of science and technology businesses. With this expansion we hope to further the region’s reputation and long tradition of being innovators that can change the world.” New Forum partnership puts research first A new partnership between Northumbria University and the Entrepreneurs’ Forum is putting research first, helping Forum members to innovate better than ever before. The Forum’s first ever ‘Knowledge Exchange Partnership’, the collaboration has been formed as a response to the new ways of working brought by the pandemic. As Vince Robson, Business Development Manager at Northumbria University explains, “In a post-Covid era, one of the key challenges Northumbria’s researchers are helping organisations with is whether they model their business on a position where some form of normal service will eventually be resumed or do they tear up the rule book and assume that business models are now changed forever. Designing the future of business will require effective collaboration and communication to make evidencebased decisions and take actions in a way that are sensitive to the broader context.” Coming into effect from June 2022, the partnership focuses on building a mutual relationship between the university and the Entrepreneurs' Forum’s members where research is created and exchanged. This insight will support North East entrepreneurs to shape new sustainable products and services, improve their ways of working and create inclusive workplaces. One business already benefiting from this approach is Tyneside-based smart procurement and supply chain business NBT
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Group. Academics from the University’s Global Logistics, Operations and Supply Chain Management research group collaborated with NBT to secure £290,000 of funding from Innovate UK to conduct a six-month feasibility project. The project, completed in autumn 2021, evaluated the potential for applying new and emerging 'smart' technologies in a manufacturing factory context to optimise maintenance inventory management and supply chain processes. The results are being progressed and used to inform a larger funding bid and new product and business models within NBT. Toby Bridges, NBT Chairman, said, “Working with Northumbria University has challenged us to look at our strategy and operations through a different lens. Our research collaboration is providing opportunities to understand and exploit new industry 4.0 and Industrial Internet of Things Technologies to transform manufacturing operations and increase competitive and sustainable advantage”. On the potential of the Forum’s partnership, Vince said, “We are delighted to be engaging more deeply with the Entrepreneurs’ Forum. Our new partnership will provide opportunities for even greater integration with a progressive business community. The university is seeking to engage with businesses across research, programme development, student employability and graduate destinations. We look forward to shaping the future events and sessions with colleagues at the Entrepreneurs’ Forum.”
