• The LBPI shows that ‘Business Creation’ is the most common attribute in the North West, driving expected growth for Q3 2023
• Manchester part of ‘Research and Innovation’ group where venture capital investments and R&D spending forecasts strong growth
• Liverpool part of ‘Sales Growth’ group where business revenues and recruitment are expected to increase to meet high demand for goods and services

Nearly a third of local areas in the North West (31%), surpassing the 19% average seen across England, Scotland and Wales, have been identified as Business Creation Areas – places which share an anticipated high rate of new business and investment growth, according to the latest figures from KPMG UK and the University of Nottingham.

The data comes from the new Local Business Pulse Index (LBPI), which uses AI technologies to pinpoint what is influencing economic activity across England, Wales and Scotland by using seven groups to characterise potential growth.

Created by the professional services firm and university, the aim is for businesses and local government leaders to use the LBPI to prioritise what type of investment is needed and where it should go.

The seven groups have been derived from the geographic, sub-national data covering businesses, employees, and consumers. These groups include Business Creation; Sales Growth; High Investment; Employment Growth; Research and Development; Consumption Growth; and High Productivity.

Out of the 39 areas across the North West, the LBPI reveals the following group breakdown:

• Barrow-in-Furness, Blackburn with Darwen, Bolton, Bury, Chorley, Knowsley, Rochdale, Rossendale, South Ribble and St. Helens are areas in the High Investment group, with high expectations of growth in business investment, and firms facilitating flexible working with new digital infrastructure;
• Allerdale, Blackpool, Burnley, Carlisle, Copeland, Halton, Hyndburn, Oldham, Pendle, Tameside, Wigan and Wirral are areas in the Business Creation group, with the highest start-up rates, combined with high expectations on investment growth;
• Cheshire East, Liverpool, Preston, Salford, Sefton, Stockport, Trafford and Warrington are areas in the Sales Growth group, with strong sales forecasts, combined with strong expectations on employment growth as firms expand to meet demand;
• Cheshire West and Chester is an area that is part of the Employment Growth group, which would show high expected growth in future hirings combined with strong performance in new job openings;
• Eden, Fylde, Lancaster, Ribble Valley, South Lakeland, West Lancashire and Wyre are areas in the Consumption Growth group, with high household credit scores, supporting the local consumer and leisure-focused economy;
• There weren’t any areas in the High Productivity group, which would show leading productivity hotspots and the highest rates of hybrid working;
• Manchester is in the Research and Innovation group, with the strongest growth in venture capital investment and R&D expenditure.

The live tool includes an interactive map of Scotland, England and Wales, with navigable local and regional business growth perspectives and detailed snapshots of individual areas.

The LBPI will be updated each quarter, presenting a current and forward-looking view across each locality. Users will also be able to see where local areas have moved from one group to another, reflecting changes in the local business cycle.

Warren Middleton, Office Senior Partner at KPMG in the North West, said: “The LBPI gives an emerging view of the markers and characteristics of the new post-pandemic economy in the North West. It provides a complementary, and critically objective, analysis for local leadership, investors, and businesses alike.

“Giving real time insight like this can help focus investment and strategic decisions based on real time data. The data also shows us how local areas compare to others, if goals are being achieved, and importantly, where there may be gaps.

“The North West is witnessing a surge in start-ups and investment opportunities, positioning the region as a crucial player in the Business Creation group. Our strategic focus on fostering partnerships and attractive investment zones is helping the region reclaim its position as a growth epicentre. Notably, Manchester, one of our largest cities, shines in the Research and Innovation group, thanks to its thriving innovation hub supported by the city’s educational facilities that encourage early-stage initiatives. Similarly, Liverpool is thriving in the Sales Growth group, with local businesses generating strong sales and revenues, resulting in high demand for new talent.” 

Professor John Gathergood, at the University of Nottingham School of Economics, said: “We are delighted to bring together the latest economic data, together with artificial intelligence technologies, to create this exciting new product with KPMG. It will support businesses and governments to help make better decisions about localities across Great Britain.” 

Karl P Edge, Head of KPMG Private Enterprise in the UK, said: “As the economy continues through a challenging period, there’s growing emphasis on local authorities to define their economic strategies and leverage profile of their business community.

“That’s why we’ve created the Local Business Pulse Index to help pinpoint the growth opportunities across England, Scotland and Wales. From the data, we can see there are distinct hubs for job creation, use of technology when working remotely, and investment. While we’ve experienced significant economic challenges over the past few years, it’s encouraging to see business creation levels come out on top in the North West, reassurance that growth and confidence are headed in the right direction for the region’s local areas.

“The need to understand local economies is crucial in prioritising investment and informing wider policy and with this tool, we can start to map out where our priorities should lie.”

Recycling and Waste Management Equipment company CRJ Services has today announced a key partnership with agricultural, municipal and recycling machines manufacturer Pronar. 

CRJ has signed an exclusive distribution agreement for the whole of Great Britan for the Pronar trommel screens and associated parts. Pronar trommels have undergone an extensive upgrade in the last few years, allowing it to compete with the best in the market. 

Director Rob Symons said: “CRJ prides itself on offering a wide array of machinery into the waste and recycling industry supported by first class service. Joining in partnership with Pronar further improves our ability to offer our customers a first class product.

“CRJ will be adding Pronar trommels into its own hire fleet and will also have units for sale. We are really looking forward to working with the Pronar team over the coming years, supplying trommels and parts to our wide range of customers”.  

Mateusz Daniluk, Sales Manager Recycling Division commented: “ We are very pleased we reached an agreement with CRJ Services to become a distributor for our trommels. CRJ both hire and sell trommels and enjoy a very enviable reputation for great service within the UK, so combining this with a quality Pronar machine should prove to be a winning combination. We are really looking forward to working closely with CRJ over the coming months and years to establish the Pronar trommel as the leading machine in the industry”.

CRJ Services is a comprehensive waste, recycling, and forestry equipment provider, operating throughout the UK and Ireland, delivering quality machinery and reliable service to more than 250 customers.

To find out more about CRJ Services, go to https://www.crjservices.co.uk.

The Padel Club, launched in Wilmslow, have secured an impressive site at TraffordCity, the North’s leading destination for sports and leisure.

The Padel Club has seen significant demand for Padel in the UK market, reflected in the high occupancy rates at the Club, as the player participation in the sport has significantly increased during the last 12 months – and forecast to grow exponentially.

Padel is the most on trend racket sport, played in a glass walled court, a game of doubles for every skill and ability level.  This makes Padel a highly accessible and enjoyable sport for players to participate in.

Working in partnership with Peel L&P, The Padel Club will be a major new hub for health, sport and socialising within TraffordCity, which is the UK’s foremost retail, leisure and commercial destination with over 3 million square feet of shops, restaurants, leisure and sport and currently attracts 44 million visits a year.

The Padel Club have submitted plans to Trafford Council to build a high specification Padel club, that will include 11 courts: 9 covered courts and 2 open air courts. Additionally, there will be a Clubhouse and facilities, that will provide a social space for players to connect and create a community, advocating well-being and interaction. The Club’s architectural design and landscaped surrounds will provide an unparalleled experience for Padel players and sports spectators.

The Padel Club at TraffordCity will be a 1.5 acre development and a c£2m build, creating 15 jobs specifically in the emerging sport and support further positive economic impact to the complex and surrounding catchment. There is the expectation that The Padel Club at TraffordCity will become a destination Padel site for the UK.

Kristopher Ball, Founder and CEO at the Padel Club said: “We are delighted to be establishing our next Padel Club at an incredible location in Trafford City. We will be launching a fantastic new sport into to a destination that is already thriving with other excellent sporting businesses. We very much look forward to sharing more detail about our club plans.”

James Whittaker, Executive Director of Development at Peel L&P added: “TraffordCity is the UK’s foremost retail, leisure and commercial destination and we are very proud to be working in partnership with The Padel Club to serve up their fantastic offering and experience to our TraffordCity community.

“We’re passionate about health, wellbeing and community. From skiing and soccer to sky diving, snowboarding and golf, TraffordCity is the only destination in the UK to offer all of these activities in one place and we are very excited to be able to add Padel to our fantastic mix of inclusive sport and social experiences; whilst supporting further job creation and opportunities within our local community.”

The construction of the Padel Club at TraffordCity is set to commence in 2023, with an estimated completion time of approximately 4 months.

To find out more about TraffordCity visit: https://traffordcity.co.uk/

A Manchester-based firm is supporting a local artist to help protect the legacy of his unique sculptures.

Heywood-based Manchester Galvanizing Ltd has been called upon to future-proof the latest venture of local customer, Paul. Having retired from the metal finishing industry, he has over 50 years’ experience and knowledge of working with steel, and is now seeking new and exciting challenges.

Paul said: “I love making things. Over the years, I’ve designed and fabricated many items, including gates, models, garden furniture, and road legal trikes – one of which I built in 1997, I still have and use.

“I turn 70 this year and still like to keep active. A friend of mine, Richard Armstrong, Owner of Armstrong Fabrications in Oldham, recently asked me to create a metal stag, and I jumped at the opportunity. I loved it – it reignited the creative spark in me once again, and I’ve since created a number of other items.”

Paul’s most recent project is a life-sized eagle garden feature, with a wingspan of approximately six feet. This is currently the third of its kind he’s fabricated, which is to be gifted to a local care home for the residents to enjoy.

“Over the course of 35 hours, I fabricated the bird using 5mm, 12mm and 16mm wire (plus whatever weird and wonderful materials I could find in the workshop),” Paul added.

“Having worked in the metal finishing trade – mainly powder coating and painting – before I retired, I’ve known of Manchester Galvanizing for a number of years. With their fantastic reputation, known locally to be very efficient and to produce an excellent quality of workmanship, I asked for their assistance to galvanize this piece to prevent it from rusting in its outside location.”

Mark Waters, Commercial Manager at Manchester Galvanizing, concluded: “We’ve been privileged to play a part in supporting Paul’s passion for art and creativity – no project is too big or too small at Wedge! And what a fantastic sentiment that this eagle sculpture will be donated to a local care home, and thanks to the galvanized finish, it will be weather-proof, ensuring it remains in top quality condition for many years to come.”

Manchester Galvanizing is part of Wedge Group Galvanizing Ltd, the largest hot-dip galvanizing organisation in the UK with a history dating back over 150 years. With 14 plants strategically placed across the country, the firm offers a truly national galvanizing service.

For further information please contact Wedge Group Galvanizing on 01902 601944 or visit www.wedge-galv.co.uk.

Today is the deadline for struggling high street brand Wilko to find a retail company takeover offer. Dan Booth, CEO of Leonard Curtis, commented on why a buyer might make an approach.

“Location would certainly play a part,” said Dan.

“And it’s got a good brand name in the market – obviously been in the trade for nearly 100 years. They are a recognised player, established in multiple high streets across the country, with some decent footfall and a service that people still want.”

On why a deadline has to be imposed he added: “You can’t keep the process going on indefinitely as 12,000 people are currently waking up every morning with a great deal of uncertainty. So, you need someone involved to provide some certainty.

“The process is a bit like running a relay race. Directors have declared the business insolvent and passed responsibility onto an administrator and their primary objective is to pass the baton seamlessly on to a potential buyer who, you hope, will preserve as many stores and jobs as possible. We need a deadline to push that process through.”

Looking at how Wilko has failed as a business, he said: “There will be a number of reasons why it did not succeed and in the fullness of time there will be a good explanation for that.

“It’s no secret that the high street has had a difficult time. Debenhams, Monsoon, Go Outdoors, Harveys Furniture, Bensons for Beds, Victoria’s Secret – to name a few – have all found it tough with stiff competition.

“Rising inflation, cost of living and high interest rates have all contributed and customers have had to make a decision on purchases on a need to have rather than nice to have basis.”

Booth said that whether the brand remained would be a decision for the buyer.

“There is 93 years of heritage and history for Wilko  – people relate to it and know what they are getting – and I am sure the founder James Wilkinson did not see this coming. It would be a shame for it not to continue.”

On the restructuring market in general Dan added that it was getting busier.

“People are finding it hard to trade through issues like cost of materials, employee wage demands and inflationary pressures,” he stated.

“It is a difficult time to be in business at the moment.”

• ONS data shows the Consumer Price Index is up 6.4% on last year
• Costs of items and services remain high despite drop in inflation 
• Experts reveal tips to build savings despite higher outgoings 

Financial experts have advised on how best to prevent expensive everyday items and services from destroying your savings, following the ONS’ report* of increased consumer prices.

The data, released today, shows that core consumer prices (excluding energy, food, alcohol and tobacco) rose by 6.4% in the 12 months up to July 2023, while the annual rate for consumer services in that month was 6.5%, up from 6.3% in June.

Despite easing inflation causing the Consumer Prices Index (CPI) for July to be lower than the rate of 7.9% in June, down from a peak of 11.1% in October, the overall annual increase shows that Brits are still shelling out more for food, household bills and other commodities and services compared to last year.

Savings experts at money.co.uk/savings-accounts today revealed how you can minimise the negative financial impact of this and maximise your savings despite higher outgoings compared to previous years.

Lucinda O’Brien, expert at money.co.uk savings accounts, said: “The ONS’ report on consumer prices is bad news for long-term savings, as higher outgoings on everyday items and services see savings increasingly pushed to the bottom of Brits’ financial priority list.

“Despite seeing a slight decline in the rate of these prices compared to last month, thanks to the inflation rate dropping from 7.9% to 6.8%, it will likely take some time for the CPI to return to that of last year – if at all.

“So it’s vital to not delay starting to build your savings pot – in fact, the higher cost of necessities means you need a savings pot to fall back on more than ever – so remind yourself, if not now then when?

“While nothing can be done about the price of consumer items, it is possible to cut back on unnecessary purchases that could be running your monthly expenditure up at a time when every pound counts – so have a look into your spending and set yourself a realistic monthly budget.

“It’s also crucial to make your money work for you, by putting money away in a high-yield savings account rather than letting it sit in a current account, missing out on money earned in interest.

“An instant access savings account will allow you to withdraw money as and when you need to, without incurring any penalties, so you can still build your savings while being able to access the money if unexpected costs come up.

“For example, Hampshire Trust Bank is currently offering 4.55% AER variable on their Online Easy Access Account that has no notice, penalties, charges or limits on withdrawals.”

For more information and guidance on saving, including the best savings rates available today, visit: https://www.money.co.uk/savings-accounts