Business News

The Government has today revealed it wants to work with the West Midlands Combined Authority (WMCA) to create Investment Zones in the West Midlands, which will help drive economic growth, new homes, and jobs.

Chancellor Kwasi Kwarteng also revealed that the Government plans to fast-track a number of vital transport schemes in the region to ensure work gets underway before the end of 2023.

A combination of measures announced in the budget today will create new opportunities for innovative start-ups and will help unlock private investment.

However, these measures must be underpinned by a collaborative and sustainable university sector to succeed says the National Centre for Universities and Business, the collective voice of UK business and universities. Today’s announcements set an economic growth goal of 2.5% and seek to drive up private investment through targeted tax and regulatory measures.  

Below is the stakeholder reaction on specific measures within the Growth Plan, including: alcohol duty, off-payroll working rules (IR35), VAT-free shopping and the Seed Enterprise Investment Scheme

Nuno Teles, Managing Director, Diageo Great Britain said: “Today we raise a Guinness to the Chancellor and PM, as a freeze in alcohol duty is great news for pubs, restaurants, and tourism.

Representatives for the Green Homes Grant scheme which helps homeowners make their property greener and sustainable - and save money on energy bills will bring their roadshow to Blakenhall next week.

City of Wolverhampton Council is partnering with Marches Energy Agency in hosting an energy efficiency roadshow at:

Azets Birmingham’s tax partner, Ray Abercromby, completed a 1,000-mile venture, from Land’s End to John O’Groats in aid of The Pebbles Project Trust, a charity based in South Africa that supports children impacted by poverty in The Winelands.

Being a wine lover, Ray chose to raise money for The Pebbles Project, a charity that was originally set up to help children who were born with Foetal Alcohol Syndrome (FAS), a preventable birth defect caused by a woman consuming alcohol during her pregnancy, one of the consequences of the wine farms historically part-paying their workers in wine.

A leading independent insurance brokers has been shortlisted for a top industry award.

Carlisle-based H&H Insurance Brokers has been named as a finalist in the 2022 Insurance Times Awards in the Independent Broker of the Year category.

Linda Wyatt has been the CEO of AIM since it was formed in 2012. She stepped down from the position in September this year when the organisation merged with Open College Network West Midlands.

Linda was nominated by AIM colleagues in recognition of her (almost) 40 years of service to the FE / Training/Awarding sector and her leadership of AIM. Initially Linda worked for Open College Network then, after a series of organisational changes, set up the independent Awarding Organisation (AO) AIM Awards in 2012.

Martin McTague, National Chair of the Federation of Small Businesses commented: “This is clear and decisive action to support growth. The decision to reverse all four of these tax rises will support livelihoods, jobs and small businesses across the UK. Removing taxes on jobs, investment and growth is the right thing to do, and FSB has campaigned long and hard for this decision.

The Chancellor of the Exchequer responded to the ONS public sector finances stats for August 2022. 

The Chancellor, Kwasi Kwarteng, said: “Our priority is to grow the economy and improve living standards for everyone - with strong economic growth and sustainable public finances going hand in hand.

Energy bills for UK businesses will be cut by around half their predicted level this winter under a huge government support package. The scheme will fix wholesale gas and electricity prices for firms for six months from October 1, shielding businesses from crippling costs.

Hospitals, schools and charities will also get help, the government said. It comes after ministers announced a £150bn plan to help households with their soaring bills for two years.

XPO Logistics, Inc, a leading provider of freight transportation services, have announced that three of its business leaders have been selected by Supply & Demand Chain Executive magazine to receive the 2022 SDCE Women in Supply Chain Award: 

Lucy Scott, director at Birmingham-based bakery, Lil’s Parlour, said: “Despite endless pivots and strategy rethinks, our sales have been decreasing steadily for well over a year.

More than 120 of the world’s leading sheet metal pressworkers will be heading to Birmingham in October as part of a major global manufacturing event. The 20th ICOSPA (International Council of Sheet Metal Presswork Associations) Congress will return to the UK for the first time in 18 years, with the emphasis firmly on ‘New Tech, New Skills and New Challenges.’

Following the latest CPI figures, My Pension Expert's chair, Andrew Megson, stressed that there is no room for celebration even as inflation slows slightly... I hope you can use it:

He said: “Given all the predictions that inflation was going to climb to 15%, or higher, by early 2023, the slight easing in the rate will be welcomed by everyone.

Forty businesses and individuals have been shortlisted for the Solihull Chamber of Commerce’s annual awards, which will be handed out during a glittering ceremony next month. The winners of 10 sector awards will be revealed on the night, with one business going on to be crowned the overall Solihull Business of the Year.

A leading Cumbrian law firm is celebrating one of its client’s winning contracts worth more than £4million.

Collaboration and joint ventures are becoming ever more prevalent for SMEs looking to combine their skills and expertise to bid for major industry contracts across a range of sectors.