Business News

Two influential figures from the Midlands business community are to be awarded honorary doctorates from Birmingham City University in recognition of their outstanding achievements to the region.

Paul Cadman and Paul Faulkner, who have supported, developed and led businesses ranging from entrepreneurial start-ups to globally recognised brands, will receive one of the highest distinctions a university is able to confer, at a Symphony Hall Birmingham ceremony on Tuesday 30 August.

Businesses across Dudley are being urged to “fly the flag” for the borough and apply for a major national award. The Queen’s Awards for Enterprise recognise outstanding achievement in businesses.

The leader of Dudley Council is urging businesses to apply for the awards and highlight the “outstanding” work that goes on in the borough.

As per the report published by The Brainy Insights, the global urban air mobility market is expected to grow from USD 2.1 billion in 2021 to USD 29.0 billion by 2030, at a CAGR of 33.9% during the forecast period 2022-2030.

Urban air mobility (UAM) is a highly automated, on-demand, unpiloted, cargo or passenger-carrying air transportation service. The concept of transportation has made city travel easier by avoiding traffic jams and congestion on roads.

Virgin Money has launched a new online service called Marketplace where small business banking customers can access a number of different useful services offered by best-in-class digital providers.

Following on from the successful launch of M-Track* earlier this year, Marketplace is the next step in the ecosystem that Virgin Money is developing, offering digital services to help customers run their businesses successfully.

Work has started on transforming another swathe of derelict brownfield land into a new industrial park following a £6.5m investment by the West Midlands Combined Authority (WMCA). Property developer St Francis Group has begun construction of a 113,000 sqft industrial unit in the Darlaston Enterprise Zone in Walsall, creating more than 195 new jobs.

The scheme, called Parallel 113, is a key part of the wider Black Country Enterprise Zone which is being led by the Black Country LEP and aims to unlock and redevelop nearly 300 acres of former industrial land, delivering 3,000 new jobs. The Parallel 113 site is the size of 10 football pitches and will be just a five-minute walk from the new Darlaston railway station – a project being led by Transport for West Midlands (TfWM), which is part of the WMCA.

Andy Street, Mayor of the West Midlands and chair of the WMCA, said: “It’s wonderful news that an investment of over £6.5million from the WMCA is helping to regenerate yet another brownfield site at the same time as creating valuable industrial jobs for local residents.

“The Parallel 113 scheme forms part of the wider Black Country Enterprise Zone vision which has an important role to play in the economic revitalisation of the wider area. This dovetails nicely with our development of nearby Darlaston Railway Station and demonstrates how improved transport connectivity can attract further investment as we continue to transform this area for the better in the months and years ahead – maintaining our strong commitment to brownfield-first development.”

Tom Westley, Chair of Black Country LEP, added: “This is a perfect example of not only delivering premium industrial space within the West Midlands but bringing the Black Country’s Enterprise Zone ambition to light and creating additional jobs in the local area. The Black Country LEP sees Parallel 113 as a huge improvement to the local economy allowing us to continue to establish the Black Country as an ideal place for businesses and communities to thrive.”

St Francis Group has a strong track record as a brownfield land and regeneration specialist with a growing reputation for developing high-quality industrial warehouse schemes across the UK.

Gareth Williams, St Francis Group development director, said: “We are delighted to have secured this investment. The start on site marks another opportunity to deliver another speculative Grade A industrial hub for the region, of market leading quality in such prominent location adjoining the M6 motorway.”

Councillor Mike Bird, WMCA portfolio holder for housing and land and leader of Walsall Council added: “This development of high-quality commercial warehousing will help create many new jobs for local people while regenerating another brownfield site. The WMCA is continuing to invest in the transformation of brownfield land to not only help preserve our green belt but also drive our region’s economic recovery by providing businesses with the places they need to grow.”

Access to the WMCA funding was provided by Frontier Development Capital who continue to work closely with property developers and the WMCA to manage investments from the WMCA Commercial and Residential Investment Funds.

An alarming 60% of employees reportedly feel disengaged from their workplace – amidst companies struggling to form a post-pandemic work culture which is fit for a hybrid world.

According to findings from a Robert Walters poll, the UK is facing a ‘Disengagement Crisis’ with almost half of white-collar workers claiming that their workplace has become unrecognisable in the past 12 months – with high staff turnover (54%), less people coming into the office (49%), and a subsequent decline in team socials (43%) being the main drivers.

Below is a readout and quotes following the Prime Minister, Chancellor and Business Secretary’s roundtable with the electricity sector this morning.

Prime Minister Boris Johnson said: “Countries around the world are feeling the impact of Putin’s damaging war in Ukraine. We know that this will be a difficult winter for people across the UK, which is why we are doing everything we can to support them and must continue to do so.

An international car parts firm which has recently expanded its operations in the borough received a visit last week from the Mayor of Dudley. Dudley’s first citizen, Councillor Sue Greenaway, visited the new Herth+Buss factory in Pensnett as part of the Made in Dudley Borough initiative.

Two old school friends, who took on high-profile entrepreneurs in the Dragons’ Den twice, are setting their sights on a £500,000 sales return for their new eco-friendly solution to serving up sauce. Ian Worton and Peter Neath are confident that Saucestream is going to prove a big hit with green-minded consumers after it saw an initial spike in online and Amazon orders.

The Chancellor's response to ONS (Office for National Statistics) July inflation statistics - Chancellor Nadhim Zahawi said: “I understand that times are tough, and people are worried about increases in prices that countries around the world are facing. 

Trade shows or business exhibitions were once the gold standard in marketing for lots of companies. They represented a chance to showcase your business to thousands of people across a few days. Many attendees would cross the threshold and walk around these large exhibition stores, taking all the stands in. 

A survey among Birmingham residents questioning what the houses of the future will have to help reach net zero showed that 44% thought solar panels to generate electricity should feature, 39% would have rainwater collection devices and 31% would have electric vehicle charging points. Gadgets to help with landfill waste came in at 4th with 29% and heat pumps came in at 5th with over 27% of those surveyed thinking they would be useful for a house of the future to help with the environment.

Corporate Finance and Real Estate Advisory firm Harrogate International Advisory based in Liverpool and with offices in Birmingham have today announced that they have secured a multimillion pound funding line from a Private Family Office, which will be known as ‘Harrogate Private Property Fund’.

The Multi-Million pound fund will be utilised for real estate projects in the UK and will focus on Bridging Finance, Mezzanine and Equity within the property sectors in residential and commercial developments.

Outline planning approval has been granted for City of Wolverhampton Council’s redevelopment of the city’s wholesale market site to facilitate the first phase of the Brewers Yard city centre living scheme.

Computer generated images show what the new Hickman Avenue market could look like. The scheme is designed to accommodate the Council’s fleet services operation, which is due to relocate from its current Culwell Street depot to pave the way for hundreds of new homes as part of the Brewers Yard regeneration masterplan.

Global travel prices are predicted to continue to increase in the remaining months of 2022 and throughout 2023, according to the 2023 Global Business Travel Forecast, published today by CWT, the B2B4E travel management platform, and the Global Business Travel Association (GBTA), the voice of the global business travel industry. 

Lesters has announced it has invested £100,000 into the opening of a second warehouse to help it cope with a 120% increase in orders.

The large packaging specialist, which has recently recruited 15 new staff, has fitted out the 25,000 sq ft facility near its headquarters in Burntwood with flexible racking options meaning it has enough space to store over 2000 pallets.