West Midlands businesses are this morning coming to terms with a highly uncertain political landscape. Conservative hopes of gaining an overall parliamentary majority were hit by an inability to take key marginal seats in areas such as Birmingham Edgbaston and Solihull, and a hung parliament seems increasingly likely. Whilst it is too early to determine the exact shape the next government will take, business leaders are understandably seeking a quick resolution to this morning’s state of limbo. James Watkins, executive director of lobbying organisation Business Voice WM, said: “What West Midlands business needs now is a stable economy and a stable future. That means MPs cannot spend time squabbling in Westminster while businesses struggle to get on with the day job of securing employment and improving the bottom line.” Louise Bennett, chief executive of the Coventry and Warwickshire Chamber of Commerce, has called on whichever government is elected to support business growth. “The most important thing now is that business is given the freedom and support to grow, take on new staff and help drive forward the economy. Reducing the national debt is going to be crucial and, at times, difficult, unpopular decisions are going to be made. Political point scoring has to be put aside because it’s vital for the good of the economy and keeping interest rates low that the huge black hole is dealt with.”

East Midlands businesses and business leaders are trying to assess what the uncertain general election result means for the local economy. Patric Phelan, location director at accountants Vantis in Leicester, said: “At this time it is very unclear as to the final outcome but the potential uncertainty does not bode well. Business is resilient and will adapt to whatever the economic circumstances may be, but financial stability has to be achieved and maintained to provide and environment in which business can thrive and grow.” George Cowcher, chief executive of the Derbyshire and Nottinghamshire Chamber of Commerce, said: “The most urgent priority now is for the political parties to form agreements and work together quickly to agree how the next government will be made up and, crucially, how it will work together.” Meanwhile, Ron Lynch, Institute of Directors East Midlands regional director, is calling for decisive action once a government is in place. “A new government needs to have a bold programme over the next parliament to restore the UK’s competitiveness. It is also vital that a new government acts decisively and early to address the UK’s challenges,” he said.

Oldbury’s Mayfair Fire Protection has been bought by Gloucestershire company Green Compliance. Green Compliance, a provider of energy certification and consultancy services, paid an initial consideration of £2.392m for the Black Country business which provides fire protection equipment and associated services. Depending on MFP achieving specified profit targets by the end of this year, a further deferred cash consideration will become payable. The calculation of the deferred consideration will be based on a multiple of six times EBITDA for the year, less the initial cash consideration. The total deal sum is capped at a maximum of £4m. The deal was funded from existing cash reserves and from a new loan facility from HSBC. For Insider comment, click here.

Land Rover is to create 275 new jobs at the company's plant in Solihull. The additional positions are required to support an increase in demand following the seventh consecutive month of improved sales. March sales in the UK recorded the highest figures for any month in the company's 62-year history. Phil Popham, Land Rover managing director, said: "These additional positions are excellent news for the manufacturing industry in the Midlands. It comes as a result of a phenomenal response received from customers and the media to the award winning 2010 model year range."

The civil engineering division of Sutton-in-Ashfield’s North Midland Construction (NMC) has recently been awarded four contracts by Siemens Transmission & Distribution for works at various electrical substations that have a combined value approaching £4m. The first of these contracts is for the construction of a new GIS substation at Earlham in Norwich. The second contract is for the construction of another new substation, this time alongside an existing facility at Dunston, also in Norwich. NMC will carry out substructure works together with external works comprising access roads and car parking. NMC will also build an extension to an existing electrical substation at Market Drayton in Shropshire.

Birmingham’s business leaders have called for “vast improvements” to signposting, following a presentation from Chiltern Railways on the proposed new mainline connecting Moor Street with London. At the presentation hosted by Birmingham Forward, the networking and lobbying group’s chief executive Richard Brennan said: “A good job has been done in recent years in restoring Moor Street to its former glory but signage and getting people from the station into the business district or retail core seems to have been forgotten. If the station is to compete as a viable alternative to New Street, it needs to carefully consider how it can improve its immediate environment.”

To submit your property to Commercial Property Finder click here

Cedar House Investments has announced the sale of further office space at Charter Point, its five-acre office development in Ashby de la Zouch. The company has sold number 5 Charter Point to ID Butt Consulting, which specialises in engineering services, predominantly to the gas industry. The scheme has proven popular, with only one unit now remaining for sale or to let.

The new president of the Birmingham Insurance Institute for 2010/11 is Peter Maskell, who becomes the first person since 1937 to hold the position for a second term. He was president previously in the Institute’s centenary year 1987/8. Maskell is chief executive of BHSF, the Birmingham-based health insurer and provider of employee benefits, and was elected at the BII annual general meeting. He is a fellow of the Chartered Insurance Institute and a chartered insurer, and has been a BII council member since 1970.