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New study Ranks Manchester third as the best place outside London for a finance career

Finance

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13/10/2022

New study Ranks Manchester third as the best place outside London for a finance career

Edinburgh, Birmingham and Manchester offer the next best opportunities for a career in finance after London
Surprisingly banker-friendly places include Trafford, Milton Keynes, Stockport, Solihull, Elmbridge, and Windsor and Maidenhead
Some of the most disappointing districts for finance job prospects are Cornwall, Bradford and Wiltshire

London may be the country’s banking hub, yet there are 15 places across the UK and several unexpectedly finance-friendly towns that offer surprisingly good career prospects.

A new study found that Edinburgh, Birmingham and Manchester offer the next best opportunities for a career in finance after London. Meanwhile, big districts like Cornwall, Bradford and Wiltshire disappoint in terms of pursuing a finance career, barely competing with much smaller places, like Stockport, Solihull, Elmbridge, and Windsor and Maidenhead.

The research, carried out by UK trading company CMC Markets, analysed the latest data from the Office for National Statistics, published in March 2022, for finance enterprises in 342 UK districts, excluding London, and the latest available population statistics. It found that 63% of British firms offering financial services alone, excluding insurance and pension funding, are located outside London.

Edinburgh tops the list for best places outside London for a career in finance, with around 310 firms and 527,620 residents calling it their home. It is also the only other place outside London that hosts large firms with over a thousand employees each. With a population of 1,144,900, Birmingham ranks second for finance enterprises, with around 265 firms located here, although none hire more than 250 staff.

Surprisingly, although Leeds is the third biggest city in the UK, it is outrun by Manchester, which hosts around 265 finance firms – 15 more than Leeds. In fact, Manchester has more medium to large finance companies than Leeds, despite having 32% less residents.

The wildcards of the ranking include Trafford, Milton Keynes, Stockport, Solihull, Elmbridge, and Windsor and Maidenhead. With relatively small populations of just 235,100 and 287,000 respectively, Trafford and Milton Keynes make the top 15 places outside London for a career in finance, with 130 and 110 specialised firms located here. This positions them ahead of much more populous districts like Bradford (546,400 residents and 95 finance firms), Wiltshire (510,400 residents and 85 finance firms) and Cornwall (570,300 residents and 80 finance firms).

Stockport, Solihull, Elmbridge, and Windsor and Maidenhead are four more honourable mentions. While much bigger cities may host more micro and small finance firms, counting up to 49 employees, Stockport and Solihull stand out for the number of firms that are classed as medium (up to 249 employees) or large (over 250 workers). Meanwhile, Elmbridge and the district of Windsor and Maidenhead beat the odds and, despite populations of just 138,800 and 153,500, respectively, they each host around 80 finance firms, placing them at #24 and #25 nationally.

At the other extremity, with zero to two registered firms offering financial services, are Argyll and Bute, Clackmannanshire, Na h-Eileanan Siar, Orkney Islands, Shetland Islands and the Isles of Scilly.

Michael Hewson, Chief Market Analyst at CMC Markets commented on the findings: “We were pleased to find out that these finance-friendly places are not necessarily the most populous cities in the UK. London is extremely competitive and the lifestyle is not everyone’s cup of tea, so it is refreshing to know where the best places to pursue a career in finance are that are way off the beaten path.

“Take Elmbridge and the district of Windsor and Maidenhead, for instance. They are both home to a significantly larger proportion of high earners, creating a striking demand for financial services, compared to other places in the UK. Their proximity to London makes them ideal for financial advisors looking to offer a more curated yet competitive approach.”

Here are the top 15 best places outside London for a career in finance, according to the CMC Markets research:

#	District / Unit	Number of finance firms (≈)	Population
1	Edinburgh	310	527,620
2	Birmingham	265	1,144,900
3	Manchester	265	552,000
4	Leeds	240	812,000
5	Buckinghamshire	170	553,100
6	Glasgow	155	635,640
7	Cheshire East	150	398,800
8	Belfast	150	342,560
9	Trafford	130	235,100
10	Bournemouth, Christchurch and Poole	120	400,300
11	Bristol	120	472,400
12	Milton Keynes	110	287,000
13	Nottingham	105	323,700
14	West Northamptonshire	100	425,700
15	Sheffield	100	556,500

Data source: ONS, as analysed by CMC Markets

Cheshire restaurant Next Door turns off power to protest soaring energy bills

Business support

Sam Allcock

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13/10/2022

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Cheshire restaurant Next Door turns off power to protest soaring energy bills

Next Door, a Michelin-guide restaurant in Cheshire, is protesting the impact of spiralling energy costs on the hospitality sector by opening without using electricity or gas.

The ‘Back to Basics’ event will take place on Wednesday 19^th October and will feature a nine-course tasting menu, with no gas or electricity being used on the evening or in the preparation of the dishes.

“We’ll be cooking solely on charcoal, using no refrigeration, no technology, all by candlelight!” said Head Chef and co-owner Richard Nuttall, “we are 100% committed to zero power, even in the preparation of the courses. It’s pushing us well out of our comfort zones to operate like this and keep up our usual high standards.

“Our suppliers have been incredibly supportive of our ambition and are delivering fresh goods immediately before they are due to cook due to the lack of cold storage”

The move comes after accountancy firm UHY Hacker Young reported a 64% increase in the number of restaurant insolvencies this year compared to last, with more than 1,400 premises permanently closing.

The Frodsham restaurant has built a reputation as one of Cheshire’s best rated fine dining destinations. But a perfect storm of rising inflation, the cost-of-living crisis and soaring energy costs is creating a huge challenge for the business.

Whilst the Government has stepped in to help with a scheme to push down energy costs for businesses, the support will only last until March 2023 and bills remain far in excess of their previous level.

“This event is a bold statement of independence and defiance against the ever-tightening constraints faced by our sector,” said Sommelier and co-owner Vicki Nuttall.

“We’ve already watched some of our favourite restaurants and pubs forced to close their doors, despite being busy – this is our way of showing that this isn’t acceptable.”

The one-off evening has been months in the making, with every single element carefully considered to ensure that quality is maintained at all times:

“Planning the evening has really made us appreciate just how much we rely on technology in all aspects of the business, from the cookery through to drinks pairing and facilities, it all becomes a challenge,” added Vicki.

From a drinks perspective, we’ve chosen wines which will work well at higher average temperatures, our arrival cocktail developed with the help of Three Wrens Gin is a warm apple punch! We’re cold brewing our coffee and serving herbal teas from the fire to finish”

Customers are being invited to leave behind their modern-day comforts for the evening, as they go ‘off-grid’ in the restaurant’s 17^th century building. They will dine by candlelight with live instrumentals, no electronics, no heating, no card payments, and definitely no Wi-Fi!

Richard Nuttall and his team of chefs look forward to rising to the occasion and delivering a night to remember, “we plan to serve a menu of manual skill and raw innovation combined with age old techniques such as smoking, curing, fermentation with the freshest ingredients.”

Vicki Nuttall concluded: “this is a light-hearted way to make a serious point about our industry.”

Find out more about the restaurant at: https://www.restaurantnextdoor.co.uk/

SUN-Air and British Airways resume flights to Billund, Denmark from Manchester’

Travel

Sam Allcock

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13/10/2022

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SUN-Air and British Airways resume flights to Billund, Denmark from Manchester’

Danish airline SUN-AIR has announced that its flights from Manchester to Billund, operated on behalf of British Airways, will resume from 31 October.

After a break of more than two years, the route will resume five times a week flown on SUN-AIR’s Dornier 328 Jet aircraft. Flights will operate on Monday mornings and in the evenings of the remaining weekdays.

Prior to the pandemic, the service operated for over two decades and carried more than 460,000 passengers from Manchester to Billund. The Danish city is popular with business travellers as a gateway to the wider Jutland region and is most famous as the home of Lego – the original Legoland theme park and factory are a short distance from the airport.

SUN-AIR has been a franchise partner of British Airways since 1996. It independently operates flights on aircraft bearing British Airways’ livery.

The airline suspended its scheduled flights in March 2020 but resumed in September 2022 with the reintroduction of flights between Billund and London City Airport, and will now restart its Manchester service.

Niels Sundberg, CEO of SUN-AIR, said: “We are incredibly pleased to restart this route from Billund and offer our passengers a direct connection to Manchester with our well-known full-service product on behalf of British Airways. We’ll monitor the route closely and will look to increase frequency if we achieve the support on this service that we saw pre-pandemic.”

Chris Fordyce, Head of Alliances at British Airways, said: “As the aviation industry continues to recover from the pandemic, it’s really encouraging to see SUN-AIR restarting routes that have been on hold. This route will offer even greater connectivity between Denmark and the UK, and we look forward to seeing its popularity return.”

Manchester Airport Managing Director, Chris Woodroofe, added: “We are delighted to see SUN-AIR and British Airways resuming flights to Billund. This is a very successful, long-standing service, which plays a crucial role in connecting more than 22 million people in our wider catchment area with six million people in mainland Denmark. I am sure that it will prove to be just as popular as it was prior to the pandemic.”

For more information or bookings, please contact a dedicated travel agency or visit ba.com.

Network Space Developments donates Multi-Use Games Area to community after disused £40,000 kit was included with newly-acquired industrial site

Charity

Sam Allcock

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13/10/2022

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Network Space Developments donates Multi-Use Games Area to community after disused £40,000 kit was included with newly-acquired industrial site

Network Space Developments (NSD) has gifted a Multi-Use Games Area (MUGA) to Manchester City Council after the outdoor games kit was acquired as part of the former Manchester College site on Welcomb Street.

The Openshaw site comprises of eight buildings of varying sizes which were previously used as classrooms and workshops by the Manchester School of Building. The MUGA, which was in excellent condition and worth circa £40,000, was located externally in the centre of the site for the use of the college students.

With plans underway to redevelop the site to deliver a new circa 70,000 sq. ft multi-let industrial estate, the high-spec MUGA was no longer required and was offered to Manchester City Council’s Parks team which readily agreed to take the equipment. NSD also agreed to cover the removal, cleaning and installation costs at its new home at Fog Lane Park.

Fog Lane Park, East Didsbury is one of Manchester’s first public parks and is well used by the local community and beyond. In addition to the new MUGA the park offers an existing MUGA, children’s play area, tennis courts, bowling greens and football pitches.

Joe Burnett, Development Director for Network Space Developments, said: “As part of our sustainability agenda, we are actively looking at opportunities to re-cycle and reuse elements from all our developments. Often this can mean the reuse of existing buildings’ structural frames and floor slabs but also softer elements too. This initiative represented a great opportunity to deliver a big impact through a small gesture and give back to the communities that we work within.

“The partnership with the Manchester Parks team has worked well and we’re delighted that they have been able to find it a new home where it will be enjoyed for many years by the local community.”

“This is a perfect example of the importance of Social Value and Commitment from Companies to Manchester” added Councillor Lee-Ann Igbon, Executive Member for Vibrant Neighbourhoods.”

Initial NSD development plans for the Welcomb Street site look to deliver up to 70,000 sq. ft of multi-let industrial accommodation, as an extension to their existing 175,000 sq. ft City Works site. Work is due to start on site in 2023, subject to securing planning permission later this year.

PRIMARK REVEALS CLICK + COLLECT TRIAL STORES

Retail

Sam Allcock

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13/10/2022

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PRIMARK REVEALS CLICK + COLLECT TRIAL STORES

Primark reveals the 25 stores in the North West of England, South and West Yorkshire and North Wales that will be the first in the UK to offer its new Click + Collect service
The trial launches before the end of the year and for the first time ever gives Primark customers the option to buy online and collect in store on a nominated day
Customers can browse and buy from an extensive Primark kids’ range, which includes new ranges exclusive to Click + Collect

Primark will launch its new Click + Collect service in 25 selected stores located across the North West of England, Yorkshire and North Wales before the end of the year.

The mix of Primark stores taking part in the new trial ranges from large city centre and out-of-town stores to smaller high street locations.

The trial will offer customers the opportunity to shop an extended kids’ range – spanning everything from clothing and accessories, to decorative nursery products and toys – and will also include hundreds of items exclusive to Click + Collect.

The launch will mark the first time that Primark has offered customers the option to buy online and then collect in store. Customers will be able to browse the range online, choose their preferred collection day and then collect from a dedicated collection point at their nominated store.

Kari Rodgers, Primark UK Retail Director, said: “We’re thrilled that customers across North West England, parts of Yorkshire and North Wales, will soon be the first in the country to get the chance to try out our new Click + Collect offer. From launch, they’ll be able to browse and buy from our extensive range of kids clothing and nursery products, from the comfort of their own home, before coming to collect from one of our chosen 25 stores.”

Shoppers across the country can also now visit Primark’s new website – launched in the UK earlier this year – which features thousands of products from the business’ best-selling ranges across men’s, women’s, kids’ and home, and offers customers the option to check item availability in local stores before making a visit.

The 25 Primark stores offering the new Click + Collect service are:

Birkenhead, Grange Road, CH41 6EA
Blackburn, The Mall Blackburn, BB1 7JG
Blackpool, Bank Hey Street, FY1 4RY
Bolton, Crompton Place Shopping, BL1 1EA
Broughton, Broughton Shopping Park, CH4 0DE
Burnley, Charter Walk Shopping Centre, BB11 1BB
Bury, The Rock Shopping Centre, BL9 0ND
Carlisle, English Street, CA3 8NX
Chester, Foregate Street, CH1 1HA
Huddersfield, New Street, HD1 2TR
Lancaster, Marketgate Shopping Centre, LA1 1JF
Liverpool, Church Street, L1 3AY
Llandudno, Parc Llandudno Retail Park, LL30 1PX
Manchester, Market Street, M1 1WA
Manchester, The Trafford Centre, M17 8AS
Oldham, Market Place, OL1 3AB
Preston, Fishergate Shopping Centre, PR1 8HJ
Sheffield, Meadowhall, S9 1ER
Sheffield, The Moor, S1 4PA
Southport, Chapel Street, PR8 1AE
Stockport, Chestergate, SK1 1NT
Wallasey, Cherry Tree Shopping Centre, CH44 5TL
Warrington, Golden Square, WA1 1QB
Wigan, Standishgate, WN1 1UP
Wrexham, Regent Street, LL11 1RY

This news follows the announcement in August that Primark is protecting the prices on more than a thousand essential kids’ products in response to the increasing pressure felt by households up and down the country.

To check whether your Primark store is included in the trial and sign up for updates on when Click + Collect is going live, visit: https://www.primark.com/en-gb/click-and-collect

Warrington Youth Zone now open as Caddick hand over £7m scheme

Charity
News

Sam Allcock

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13/10/2022

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Warrington Youth Zone now open as Caddick hand over £7m scheme

Hundreds of youngsters from across Warrington are now enjoying the social and sports facilities at the new state-of-the-art Youth Zone, recently completed by Caddick Construction.

Construction began on the £7million centre in 2020, on behalf of the national charity OnSide.

Located in the stadium quarter next to the University Technical College (UTC) off Dallam Lane, Warrington Youth Zone boasts an indoor climbing wall, 3G rooftop kick pitch, four court sports hall, dance and drama studio, training kitchen, arts and crafts space, fully equipped gym, music room with recording studio and enterprise suite.

OnSide now has a network of 14 Youth Zones across the country including similar centres in Wigan, Chorley, Bolton, Manchester, Oldham, London and Birkenhead. For just 50p per visit, they offer young people a space to enjoy a wide variety of sports, arts, learn new skills, or just socialise and have support from trained and dedicated youth workers.

Warrington Youth Zone, which has become home to the well-established Warrington Youth Club charity, is now open seven days a week with over 2,000 members registered. More than 20 activities are on offer for up to 250 young people, aged between seven and 19 or up to 25 for those with additional needs, every day.

Adam Poyner, Head of Construction for OnSide, said: “The Youth Zone looks absolutely amazing both inside and out. I would like to thank Caddick Construction for taking our designs and vision to the next level and skilfully brought this building to life.”

David McNicholl, CEO of Warrington Youth Zone, added: “It has been an exciting journey to get Warrington Youth Zone up and running, and to see the young people already in and using the facilities make it all worthwhile. We’ve been open for a few weeks now and to see it packed out every evening really is a dream come true – it’s the building and the place they deserve.

I’d like to thank all our supporters, particularly Warrington Borough Council, who have made this facility possible which will undoubtedly help improve the opportunities and life experiences of young people from across the district.”

Ian Threadgold, Managing Director of Caddick Construction NW, said: “It has been a privilege to work on this project with Onside Youth Zones. Not only is it an eye-catching landmark that has been designed to really make a statement, the facilities are just awesome and will inspire young people to try new activities that just weren’t possible before.

He added: “And this Youth Zone couldn’t have come at a better time for Warrington and its youngsters when so many hard-working families are feeling a real cost of living squeeze.”

The project team consisted of Seven Architecture, HL Engineers, Hurstwood Environmental Consulting and Walker Sime.

SER GROUP LAUNCHES INNOVATIVE EV BATTERY RECYCLING DIVISION

Sam Allcock

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13/10/2022

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SER GROUP LAUNCHES INNOVATIVE EV BATTERY RECYCLING DIVISION

New Electric Vehicle (EV) battery recycling facility established in the north-west of England

Manchester-based IT recycling business The SER Group, has launched Cellcycle, a specialist battery recycling division to process and recycle the expected surge in the UK’s end-of-life batteries and manufacturing scrap. Early indications suggest around 350,000 tonnes of expired electric vehicle batteries will be recycled in the UK by 2040*.

Compliance with accreditation benchmarks has already been secured with the company holding both its Approved Battery Exporter (ABE) and Approved Battery Treatment Operator (ABTO) permits, which uniquely places Cellcycle amongst just a handful of fully accredited recycling companies in the UK qualified to treat and recycle end-of-life batteries without the need for expensive exportation.

Cellcycle’s facility will dismantle batteries before the mechanical and chemical separation recycling processes are completed. When fully dismantled and disassembled, there are several applications for the recyclable extracted raw materials – for example, cobalt can be used within the chemical industries, lithium is recycled for rechargeable batteries, copper for electrical wiring, and aluminium for cans and foils.

Cellcycle will offer a truly circular economy solution and is an important first step on the UK’s journey to create an ethical and sustainable supply chain for batteries that will be increasingly necessary when transitioning to a Net Zero future.

Gary Mo, Managing Director the SER Group comments,

“The battery market in the UK is growing exponentially and with the introduction of new legislation, the demand for battery recycling innovation in the UK is rapidly rising. Moreover, we, as a nation, will not reach carbon neutrality without increasing our investment and development of new technologies and recycling opportunities, particularly as the demand for electric vehicles increases, therefore establishing Cellcycle was a priority for us.”

Currently, most companies in the UK export their end-of-life and redundant batteries to Europe, Asia, and other parts of the world for material-level recycling and face heavy transportation costs associated with that service.

Cellcycle will now change that, according to its Battery Division Director, Jeff Borrman.

“We are aiming to provide businesses with a closed-loop battery recycling process directly here in the UK that will not only be cost effective for customers but more sustainable too.

“With a reduction in the requirement to export, transportation costs will be kept to a minimum, but more importantly, recovering valuable materials from a range of different types of batteries like lithium-ion and nickel-metal hydride whilst maintaining a zero-carbon footprint is key to progressing towards compliance with the UK’s Green Agenda.

The valuable materials that are recovered through this process will help provide manufacturers and other businesses within the UK battery supply-chain with the resources to produce new, more sustainable battery technology”

KEENANS EXPANDS WITH DEAL FOR LETTING LOCATIONS

Business

Sam Allcock

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13/10/2022

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KEENANS EXPANDS WITH DEAL FOR LETTING LOCATIONS

A north west estate and letting agent has expanded into West Lancashire with a swoop for a Preston-based business.

Keenans Group has acquired Letting Locations for an undisclosed sum.

Letting Locations, which trades as Guildhall Residential Lettings, operates from Blackpool Road in Ashton-on-Ribble and has 350 properties under management.

Its managing director Robert Shields is being retained by Keenans on a consultancy basis following the deal.

Keenans is an independent, family-owned group which until now has focused on Greater Manchester and East Lancashire, with 10 branches covering 115 postcodes. It deals with over 2,500 sales and 400 lettings per year and employs nearly 100 staff.

Matthew Catterall, a corporate partner at north west law firm Taylors Solicitors, advised Keenans on the acquisition. Andrew Tabernacle of Bishops Chartered Accountants in Blackburn and Blackpool provided accounting and tax advice.

Matthew said: “We are extremely pleased to have provided legal advice to Keenans and help ensure its successful acquisition of Letting Locations. This transaction will enable Keenans to continue its impressive growth and extend its reach into West Lancashire.”

Paul Keenan, managing director of Keenans, said: “We are delighted to have completed the acquisition of Letting Locations as part of our geographical expansion in the north west.

“The business is a great fit with our current branch network and it expands our lettings management portfolio.

“The staff have tremendous experience and are passionate about the lettings industry. Their commitment to excellence for landlords and tenants alike aligns perfectly with our ethos, and we extend a warm welcome to them as part of the group.”

He added: “The advice from Matthew and Andrew throughout the process has been invaluable, and we look forward to working with them on future acquisitions as we continue towards our growth target.”

Anthony Seddon Fund gets support to navigate pandemic and prepare for emotional handover thanks to Skills for Growth – SME Support

Charity

Sam Allcock

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13/10/2022

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Anthony Seddon Fund gets support to navigate pandemic and prepare for emotional handover thanks to Skills for Growth – SME Support

Thanks to help from Skills for Growth – SME Support, mental health charity The Anthony Seddon Fund has been able to face off the challenges thrown up by the pandemic and emerge in a better position with a plan for an emotional transition at the top.

Founded in 2014 by Donna Thomas and her husband Brian after the death of their son Anthony, the Fund supports those with mental health issues in Tameside. During the pandemic, the demand for its services increased while the charity was facing issues of its own staying afloat. Last year it received The Queen’s Award for Voluntary Service, the highest award a group can receive in the UK.

It became one of the first organisations to sign up for Skills for Growth – SME Support, a fully funded business support programme designed to help Greater Manchester SMEs achieve their growth ambitions through workforce development, commissioned by the Greater Manchester Combined Authority with funding from the European Social Fund and delivered by GC Business Growth Hub in partnership with the Greater Manchester Chamber of Commerce.

CEO Donna admitted that they were struggling to cope with the increased demands for their services due to the pandemic while she was also looking to hand over the reins to her son Harry. The charity was also struggling to identify its strengths when it came to promotion for funding and claims.

“We’d never planned to start our charity,” said Donna. “We’d started to raise funds for another local charity but quickly that turned into setting up our first shop with a little corner for people to have a brew and talk to us. At that stage we didn’t even know we needed to register as a charity.

“We didn’t know what we were doing but kept growing, so eventually we reached the stage where we knew we had a responsibility to our staff to find out how to run things properly. However, paying for training when you’re a small charity is a big decision because there’s always something else you need to spend the money on, so finding free training with Skills for Growth was massive for us.

“Since we’ve done it, it’s given us a huge boost and the belief that we really can do this. We’ve learned so much and are currently in the process of creating our first ever strategy after eight years as a business. We wouldn’t be able to do any of these things if it wasn’t for the training from Skills for Growth.”

Organisations accepted onto the Skills for Growth – SME Support programme benefit from up to six months support, working alongside a dedicated Skills Coach, who provides an in-depth business diagnostic and workforce development plan tailored to achieve the business’ growth ambitions as well as being further supported to create personal employee development plans and help in finding suitable training courses.

“Having the face-to-face contact with other people who were on the same journey was really important as well as setting us a path of learning that I don’t think we’re ever going to stop doing,” said Donna. “Doing the training has also definitely helped us reflect on what we have achieved and what we’re trying to achieve in the future. We’ve got the tools now to take a step back and look at goals and how we would measure the outcomes of them to decide if it’s something we should try, or not.”

Donna and Harry took up the offer of management training which helped them to both gain the confidence and skills to achieve their goals while the Fund also received support from a Business Change Specialist who helped them to identify the strengths and impacts as well as aligning business and leadership skills to cope with the increased demand.

The Fund was also supported to obtain a grant to accommodate the need for growth to meet that demand as well as helping to protect three jobs at the charity. Now going into its 8^th year, Donna and Harry are more confident than ever in terms of its future direction and the emotional transition in leadership from mother to son, while continuing to work in Anthony’s memory.

“This year has been dedicated to sorting out our own business plan and a vision for the charity, working our way through everything we need to do to be set up properly,” said Donna. “I’m working on that with Harry and that transition is in process because I’ve been able to take a step back as a trustee with him as Chief Operating Officer, taking over the day-to-day operations. I have every confidence in him taking the charity forwards and doing things the right way.”

Janine Richardson, Programme Manager, Skills for Growth said: “The pandemic proved just how important the work of mental health charities like The Anthony Seddon Fund are to our communities. Donna and Harry have been working hard behind the scenes with the help of our Skills for Growth team. Specifically, to ensure their charity could meet the increased demand and move towards an emotional handover that ensures that its future is in safe hands.”

Manchester Business Receives R&D Cash Injection With Help From Local Company

Business support

Sam Allcock

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13/10/2022

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Manchester Business Receives R&D Cash Injection With Help From Local Company

Greater Manchester business owner Paul Wilks, Director of Jigsaw Controls and kTech Manufacturing, has been offered a lifeline against rising raw materials costs with a successful R&D claim through Research and Development Specialists LTD.

The claim comes after a 300% rise in raw material costs in the last 12-months hit the businesses cash-flow as the price of plastic soared, and will inject a combined value of over £18,500 into the companies to aid future development and clear the impact of COVID-19, despite taking less than 3 hours of Paul’s time and saving him 3-days of business hours.

Jigsaw Controls, a bespoke electrical control systems company that specialise in developing solutions to customers’ problems stand to receive a £14240 cash injection and kTech Manufacturing, a leading manufacturer of electrical wiring and accessories, stand to get a £4460 injection of cash into the businesses from successful R&D tax claims with fellow Greater Manchester business RDS.

Company Director Paul has seen the cost of raw plastics rise from £200 per tonne to over £800 per tonne, in the last 12 months. This, coupled with expected delivery dates going from six weeks to nearly six months, has put a squeeze on the expected growth, however, a chance meeting at an event has helped to ease business fears.

Here Paul explains more about the process and how it has helped his company: 

“The RDS process was much slicker and required much less of my time” begins Paul, who became aware of RDS when he met business development manager, Chris Cunnane at a Greater Manchester Chamber of Commerce social event earlier in the year.

“My previous claim, with a different R&D company, took nearly 20 hours of my time, which as a business owner I just don’t have readily available. This made me very sceptical about going through the R&D claim again, however, after speaking with Chris at the GMCC event, it became clear very quickly how different RDS were. As a comparison going through two claims with RDS took a total of three hours, saving me nearly 3-days.”

“Chris and his colleagues spent the time getting to know both Jigsaw Controls and kTech, understanding the R&D we had done, this resulted in the time saving as they did a lot of the paperwork for me, whereas previously I spent endless hours on phone calls explaining about the R&D and my businesses. The variety of experts they have in the business meant they quickly grasped and understood what R&D we were doing”.

Paul continues “In happier times the money received back from HMRC would have been put back into the business to grow it further, however with the impact of COVID still being felt the invaluable monies this time will be used to reduce the debts accrued during COVID, allowing us to start really planning for 2023 and beyond.”
 

The HMRC tax incentive is available to any company no matter the size. It rewards those undertaking original research and development with tax credits that can either be deducted from corporation tax or if a claim is historical, claimed back as a repayment of overpaid corporation tax. The aim of the Government scheme is to stimulate innovation and boost the economy.  

Mark Joyner, MD of RDS, added: “We love working with and helping fellow businesses in the North-West, especially ones that have been impacted by rising raw material costs or COVID-19. Greater Manchester has always been a main hub for manufacturing and by supporting businesses who undertake research and development as well as bring jobs to the local economy we feel like we are doing a little bit to help keep the local economy growing.”

“At kTech Manufacturing, Paul and his team have developed products that are easier, simpler and safer to use, then with further R&D have found ways to produce these at a cost-efficient price for the end-user. This is R&D working at its best and demonstrates exactly what the scheme was set up to achieve.

“There are so many companies out there like Paul’s that could be benefitting from a cash injection. At RDS, we look to make sometimes complex processes much simpler, giving business owners like Paul peace of mind and saving them valuable time”.

For more information visit https://randdspecialists.co.uk/ or call 0161 823 5281. 

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