|
-
|
|
Top story
|
NWDA launches £10m business support fund
The Northwest Regional Development Agency (NWDA) has launched a Transition Loan Fund of at least £10m, aimed at providing the region’s small and medium-sized businesses with immediate access to finance. The initiative, announced at the second meeting of the Joint Economic Commission for the North West this morning, is available to companies with a viable business plan and an ability to service the borrowing required, but which have been unable to obtain such funding from conventional sources. Bryan Gray, chairman of the NWDA and deputy chairman of the commission, said the funding will help companies “survive and grow” and confirmed it is separate to the £140m Venture Capital Loan Fund, which will be available from April 2009. Under the scheme, businesses will be able to apply for loans between £3,000 and £50,000.
|
|
|
Deals
|
ANS seeks acquisitions
Technology infrastructure company ANS Group, which is based at Manchester Science Park, has reported pre-tax profit up 8 per cent to £538,485, on turnover up 8 per cent to £538,485. The company says it is well-placed to ride out difficult trading conditions and expects to continue trading profitably. The board is looking for suitable bolt-on acquisitions and has provisionally lined up bank finance to fund any deals and capitalise on drops in company valuations and an increase in distressed businesses.
Campbell Woolley is launched
Following the demerger of the corporate finance and accountancy arms of Manchester firm Ford Campbell, Andy Campbell’s accountancy practice has been renamed Campbell Woolley as Tony Woolley joins Campbell at the helm. Woolley joined the practice in the late 1990s as a tax assistant and was made tax partner in 2007. The firm’s range of services include strategic finance, corporate finance, tax, audit and management accounting.
In Focus - AIM
It’s not been the best year to attempt floating a company on AIM and in this week’s In Focus online column, Insider editor Michael Taylor examines how AIM has changed over the last two years. With a little help from a man with two cows. “Even in a buoyant market there was always the feeling that AIM had something of the Wild West about it,” he says. “Lots of risky shell companies that never came to anything.” To find out what more he has to say about the future of AIM, what the advisers are doing now and how a man with two cows tackles AIM click here.
|
|
Business
|
Chambers and Bibby honoured by CBI
Stuart Chambers, the chief executive of Pilkington owner Nippon Sheet Glass, was hailed as business leader of the year at the CBI North West’s annual awards lunch on Friday. Chambers, who still lives in the North West and chairs the North West Business Leadership Team, said the St Helens plant was in good shape to weather the challenges to the business. “We’ve managed to upgrade to make glass for the solar energy industry,” he said. The board of the year award went to Liverpool-based Bibby.
Music to MBL’s ears
MBL Group, the Leyland-based distributor of CDs, videos, DVDs and computer software chaired by Peter Cowgill, has announced its unaudited interim results for the six months to September. The company, formerly Air Music and Media Group, has seen sales increase by 20 per cent to £34.9m, operating profits up by 16 per cent to £2.2m and profit before tax up by 21 per cent to £2.3m. The group has benefited from the expansion of its customer base at Music Box Leisure in the second half of the last financial year. Cowgill said the group was in the most important trading period of the year and, while there were challenging market conditions ahead, the board remains “confident that a solid platform has been developed from which to take advantage of market opportunities”.
Kitchen manufacturer falls
Bolton-based Bernstein Group, a kitchen manufacturer that supplies housebuilders, retail channels, national trade counters and social housing, is the latest victim of the housing and retail downturn and has been placed into administration. The closure of a major trade customer has also had a major impact on the viability of the company. Administrators at PricewaterhouseCoopers (PwC) have made 140 out of 250 staff redundant and intend to complete existing orders. PwC director David Kelly said: “We would invite any interested parties to contact us as soon as possible.”
JJB secures training funding
Troubled Wigan-based retailer JJB Sports has secured £1m of government funding to provide a bespoke customer service training package for more than 600 of its store staff across the country. The training programme will be a mix of workshops, presentations and assessments and all staff that complete the programme will receive an NVQ Level Two. Phil Swaine, associate director of retail operations, said: “Investing in this is a big focus for us. We want staff to have a future with JJB and this latest initiative demonstrates our commitment to that goal.”
Job cuts at Woolworths
The administrators of high street retailer Woolworths have made 70 redundancies at the company’s support operations in Castleton, Rochdale. Neville Kahn, joint administrator and reorganisation services partner at Deloitte, said: “Unfortunately, it has been necessary to make some 450 employees redundant out of a total workforce of over 25,000. There have been no redundancies in the high street stores and distribution centres. Our expectation remains that stores will remain open beyond Christmas and that all staff in the stores will be paid in full.”
Small businesses struggling to get credit
Around a third of small businesses are still struggling to get affordable credit from the banks despite commitments to lend fairly, according to figures released today by the Federation of Small Businesses. The organisation’s latest member poll shows that 30 per cent of small businesses have seen an increase in the cost of new or existing credit in the last two months. Over 60 per cent reported that trade had decreased in the last two months and 40 per cent are being paid later for services and supplies. This has led to more than a third considering reducing employee numbers, 36 per cent considering cutting staff working hours, 41 per cent contemplating curbing future hiring and 39 per cent even thinking about closing down.
Contract win for Commendium
Penrith-based telecoms consultancy Commendium has secured a £3.8m contract to help small businesses in Northern Ireland develop online and e-commerce strategies. The contract win follows on from the success of previous schemes, such as Project ACCESS, which saw the adoption rate of broadband in Cumbria rise from 20 per cent to more than 75 per cent. As a result of the contract, Commendium plans to open a new office in Northern Ireland in a move that will create ten jobs.
Lunney leaves AFR Consulting
Adam Lunney has left AFR Consulting, the Bolton-based financial recruitment consultancy he cofounded with Simon Speak and Phil Scott in 2004, to pursue other interests. He will be replaced on the board by Tammy Smith, who joined the business in April 2008 to launch its clerical finance division. AFR helps accountancy firms and other businesses to find the right financial job candidates, from clerical and administrative roles to board level.
North West economy worsens
The economic climate in the North West has worsened in November according to the latest survey from The Royal Bank of Scotland. The Business Survey Data shows output, new orders and outstanding work all contracting and the rate of job losses increasing. The seasonally adjusted business activity index fell from 46.5 to 37.8 in November and 42 per cent of firms reported lower activity. Employment levels fell for the seventh successive month to their lowest levels since 2002 as firms responded to weaker demand by cutting jobs.
Accountancy firm relocates Penrith office
Cumbrian accountancy firm Saint & Co has relocated its office in Penrith from Poets Walk to the Penrith 40 Business Park, close to junction 40 of the M6. The company said the move was in response to clients’ requests for a more convenient and accessible location with better parking facilities. The practice will be led by partners Andrew Liddle and Ron Kenyon.
Context wins SiraCom account
Macclesfield based PR and marketing consultancy Context has been appointed to manage all media relations for SiraCom, an IT and communications company based in Basingstoke. The business specialises in providing open network technologies, including wireless and wired networking and IP telephony. The appointment follows Context’s Gold Award at the North West PRide Awards held in November.
|
|
Property
|
£1.1m for City Park
The Irwell City Park waterfront public realm scheme has won £1.1m in funding from the Northwest Regional Development Agency (NWDA) and partner councils. Irwell City Park is a venture between the Central Salford urban regeneration company, Salford City Council, Manchester City Council, Trafford Metropolitan Borough Council, the NWDA and private sector partners. The project team will now appoint project managers, a design team and cost consultants to undertake all detailed design and technical assessments for the section of the project connecting MediaCityUK and Salford Quays to Greengate.
Asten Fold scoops development award
The £4m Asten Fold development at Duchy Bank in Salford has been named Best Partnership Development at the What House? Awards 2008. The development, led by Space New Living, a subsidiary of Manchester-based Great Places Housing Group, in partnership with Bardsley Construction, Salford City Council and Salix Homes, was praised for its community involvement in the design process. Asten Fold is part of the Manchester Salford Housing Market Renewal Programme and consists of 37 affordable new homes.
Centurion Way marches on
Commercial property developer PPG Land has completed the second phase of its speculative development at Centurion Way in Leyland. The scheme consists of a 34,205 sq ft warehouse with 70 parking spaces and four electric up and over loading doors. It follows on from the construction of three warehouses, now occupied by Chorley & South Ribble PCT, Leyland Service Centre and Leyland Exports.
Tesco plans refused
Supermarket giant Tesco has been refused planning permission to open a new store in Great Harwood, near Blackburn, following a public inquiry. Government inspector Phillip Ware concluded that there was no longer a need for the 45,000 sq ft store after a separate £32m store in Accrington was given the go-ahead. The Great Harwood Regeneration Board will meet later this week to discuss how the refusal will impact on its regeneration strategy for the town. Tesco now has 60 days to appeal against the decision.
|
|
Events
|
Dates for your diary this week
Cumbria Vision and Northwest Business Network are staging a free seminar and workshop at Rheged, Penrith, on Tuesday from 9.30am to 1pm to provide important information on how Cumbrian businesses can compete for business opportunities and other public sector contracts related to the London 2012 Olympic Games and Paralympic Games. And all day on Friday Places Matter is holding a free Building in Context workshop at the University of Cumbria in Ambleside to inspire confidence in developing successful designs for new development in historic areas. Meanwhile, office refurbishment specialist Overbury is holding a Christmas dinner at Manchester’s Stock on Tuesday, while on Friday morning there’s a little bit of an announcement going on at Manchester Town Hall about some £3bn of transport funding.
Krypton Factor is back
Commuters walking through Manchester Piccadilly station this morning were greeted with a promotion for the return of The Krypton Factor to ITV. This time it’s aimed at business people and is sponsored by accounting software company Sage. The promotion continues tomorrow and online. “Sage is celebrating the extraordinary successes of ordinary people overcoming challenges through a combination of energy, determination and skill,” said Joanna Elliott, head of brand communications at Sage UK. Sadly, Gordon Burns is no longer involved.
|
|
|
Contact Us
Insider
8th Floor, Boulton House
17-21 Chorlton Street
Manchester
M1 3HY
Telephone: +44 (0)161 907 9711
Email: nw@insiderdaily.co.uk |
 |
Subscribe
To subscribe to the eBulletin,
click here.
|
|
- |
