east midlands business news

Major boost for a joined up visitor economy strategy for the East Midlands

A new regional approach to delivering a thriving visitor economy across the East Midlands is set to be developed.

In a meeting on Monday 4 November, the East Midlands Combined County Authority (EMCCA) Board agreed funding of up to £60k to support the joint work of the region’s two Local Visitor Economy Partnerships (LVEPs) to develop a Destination Management Plan for the EMCCA region to add value, strengthen collaboration and avoid duplication.

The approach agreed by the Board focuses on three core elements to boost the visitor economy:

  • By promoting our place and products to deliver enhanced profile, greater reach and more visitors.
  • By developing the offer, working with our stakeholders to improve and increase, for example, hotel accommodation and live venue, conference facilities etc
  • By realising the value of the sector, showing the wider benefits to our region over and above the contribution to our economy.

Mayor of the East Midlands, Claire Ward, has begun a series of engagement events in order to hear directly from key organisations across the sector.

This has included a Derby and Derbyshire-focused meeting hosted by the Devonshire Group at Chatsworth House, an Arts Council-led event in Chesterfield, bringing together representatives from across the culture and heritage sectors, and a Nottingham and Nottinghamshire-focused event hosted at the National Civil War Centre in Newark.

These events provided valuable feedback regarding the challenges and opportunities for organisations in the sector.

There are now two Local Visitor Economy Partnerships (LVEPs) that cover the whole of the EMCCA area, Visit Nottinghamshire and Visit Peak District, Derbyshire and Derby and they are both formally accredited by Visit England. They will work with EMCCA to develop a strategic vision for the region, highlighting all the fundamentals of making our destinations thrive, while supporting local businesses.

The tourism/visitor economy makes a significant contribution to our economy, worth around £5.25bn in 2023 and supporting around 52,000 jobs. The aim is to take up numerous opportunities to grow the value of the sector, both in terms of direct economic impact and wider benefits that support EMCCA’s inclusive growth objectives.

Mayor of the East Midlands, Claire Ward, said: “The Visitor Economy is one of my key priorities because it matters everywhere: to our cities, our market towns, and our rural areas alike.

“This is a vital agenda for the whole region and I’m delighted to lead and strengthen collaboration with our regional partners. Our joined up Destination Management Plan means that we can have more impact, and improve our offer for visitors, residents and grow our economy.”

Jo Dilley of the of the Visit Peak District, Derbyshire and Derby LVEP said: “We’re delighted that East Midlands Combined County Authority (EMCCA) recognises the importance of the visitor economy, which is worth £2.89bn to the Peak District and Derbyshire, and are pleased to be working in partnership with Visit Nottinghamshire on joined-up Destination Management Plans that will benefit the entire East Midlands region.

“The visitor economy is a sector that can drive positive change across local communities, providing jobs, boosting investment, and supporting the development of vital infrastructure. By working collaboratively and creating a strong partnership across the Combined Authority, we can offer efficiency of scale and growth for businesses, amplifying key assets across national and international markets. Together, we can deliver a sustainable strategy that provides a strong foundation for the sector’s future growth.”

VisitEngland Director Andrew Stokes commented: “It is great to see these two Local Visitor Economy Partnerships (LVEPs) working in collaboration to support sustainable growth in tourism and investment in the East Midlands. The local visitor economy will benefit from this joint and stronger regional alignment.

“VisitEngland will continue to work with Visit Peak District, Derbyshire & Derby and Visit Nottinghamshire LVEPs as they develop their collective Destination Management Plan with our expert guidance and resources in areas from product distribution, accessibility and sustainability to business support, funding bids and marketing.”

At the meeting, Board members emphasised the value of the visitor economy and the opportunity we have to grow this. There are great assets already across our area, and by joining up our efforts we can promote an offer that persuades people to visit for longer, spending more in our region and going home having had a great experience and promoting our region.

The Board also noted the vital contribution that will be made by areas such as transport and skills, for which EMCCA is becoming responsible, and the opportunity we now have to make sure our spending and delivery in those areas helps our visitor economy thrive, through promoting the value of jobs and careers in the sector, working with providers to develop a skilled workforce, and helping improve transport connectivity for visitors and those working in the sector.

Visit Chesterfield for a great day out or to stay. Find out more at: https://www.chesterfield.co.uk/visiting/

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East Midlands Mayor announces major step on path to growth

The region that gave birth to the first industrial revolution will set out a roadmap to invest billions of pounds in a new future which grows prosperity for all its people and places.

The Mayor of the East Midlands, Claire Ward – is launching a high-powered Inclusive Growth Commission which will identify how the region can harness major opportunities and tackle its challenges over the next decade and beyond.

Its work will guide how the East Midlands Combined County Authority invests a £4 billion funding pot to help drive a thriving economy across Derby and Derbyshire, Nottingham and Nottinghamshire.

Mayor Claire and council leaders across the region have appointed the RSA (Royal Society of Arts), which is renowned for its work in helping places join the dots between economic opportunities and people’s needs, to run the Commission.

It will be chaired by the RSA’s Chief Executive, Andy Haldane – the former Chief Economist of the Bank of England – who will be joined by a team of national and regional experts including Sir John Peace, Chairman of the Midlands Engine and one of the founders of the Nottingham-based global business, Experian, and Gillian Sewell, the CEO of YMCA Derbyshire.

They will spend the coming few months talking to communities, businesses, councils and major regional institutions to find out what people think about the region and its potential.

The Inclusive Growth Commission will release an initial report next Spring, which sets out the current picture in the East Midlands, and a final report next Autumn. This will outline how investments could grow the economy in a way which tackles challenges and connects people and places to new opportunities.

Mayor Claire said: “Inclusive growth means creating opportunities for all — good jobs, quality education, and thriving local economies that work for every single resident. It’s about ensuring no one is left behind as we build a prosperous, sustainable future.

“Whether you live in one of our vibrant cities or a rural town or village, this will make a real difference to how we lift our region.

“I’m proud to have put together this ambitious commission, and together, we will make the East Midlands the best place to live, work, and learn.”

Andy Haldane said: “I am excited to be chairing this new commission which has the potential to unlock tens of millions in growth across this dynamic region. By taking a fresh look at the many opportunities underpinning the East Midlands economy, we will seek to supercharge the region, bolster job opportunities, and make progress towards net zero.

“At the RSA, our Design for Life mission draws on the ingenuity and interconnectedness of communities and local leaders around the country- not least through our Prosperous Places work. I look forward to seeing that come to life in the year ahead”.

Sir John Peace said: “I know from my own experience that the East Midlands is a place that can lead the world. It is brimming with inventive spirit, and has a long tradition of taking new ideas and turning them into innovations that change people’s lives.

“But we can do better. We now need to apply that inventive spirit to the challenge of connecting more of our communities to prosperity and I’m delighted to be joining the Inclusive Growth Commission and playing a part in that process.”

Gillian Sewell added: “The East Midlands is an outstanding region that has so much to offer and be proud of.

“We can build on this strong foundation and deliver meaningful benefits by lifting the prosperity of our all our communities whilst supporting the wellbeing of our people”.

The Commission’s conclusion and recommendations will be developed in close collaboration with a wide range of groups and organisations across the East Midlands, including councils, businesses, colleges, universities and trade unions. The recommendations from the Commission will inform future investment proposals for up to £4billion of public investment by EMCCA.

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Chesterfield businesses invited to have say on government Industrial Strategy before time runs out

With exactly one month left until the government closes public consultation on Invest 2035 – its Industrial Strategy – East Midlands Chamber is to hold three round table webinars for the business community to help shape and influence the consultation response ahead of the 24th November deadline.

Insight and evidence gathered at the webinars – to be held on 11th, 18th and 20th November – will provide the core elements, shaping the response East Midlands Chamber delivers to the government.

The government’s Industrial Strategy proposes to boost growth across clean energy, advanced manufacturing, creative industries, clean energy, design and technologies, defence, life sciences, financial services and professional and business services. The final Industrial Strategy will be published in spring 2025, alongside the multi-year spending review.

East Midlands Chamber Director of Policy and Insight Richard Blackmore said: “This is a critical moment where, with only 4 weeks until the clock runs out on the government’s public consultation, it’s essential the voice of business in the East Midlands is heard.

“The Green Paper identifies 8 key sectors which offer the highest growth opportunities for the UK economy. It is vital the East Midlands is seen as a key delivery partner for some, or all of these to ensure the region benefits from the impact on growth this strategy is set out to deliver over the next 10 years. We’re calling on the region’s business community share their views and experiences on the 10 questions we’ve raised including ‘How should the government identify the most important subsectors and technologies’ and ‘What barriers are there to investment?’

“It’s just a case of a business choosing one of the three webinar dates that work for them and registering. Sparing a short amount of time could really make a difference.

“These opportunities to influence policy on this scale are rare. It’s seven years since the previous government released the last Industrial Strategy, so now is a key opportunity which I’d urge businesses in the East Midlands to seize and shape the response that the Chamber presents to the government.“

Register to attend one of the webinars here.

2 male and 2 female business people speaking at table at Chesterfield Enterprise Centre

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Board launched to strengthen regional business connections

Representatives from across the East Midlands are being sought to help strengthen the connection between East Midlands Combined County Authority (EMCCA) and local businesses.

EMCCA’s Business Advisory Board will provide strategy, advice and guidance to the main EMCCA Board, chaired by Mayor of the East Midlands, Claire Ward and EMCCA’s committees. It will help ensure the experience and knowledge of regional businesses is harnessed when making decisions around the economy, skills, transport, housing and the transition to net-zero.

David Williams, Chairman of Geldards, one of the UK’s leading law firms and business representative on the EMCCA Board will chair the new Business Advisory Board.

David Williams, Chair of the Business Advisory Board, said: “I’m committed to raising the economic prosperity of our region and through this board we will build a strong partnership between the public and private sector and ensure that the benefits of devolution can be realised across the region. We need experienced individuals to join the board who are willing to share their insights to help guide the work of the new combined county authority.”

Mayor Claire Ward said: “It is vital that we bring together representatives from across the business community to help shape the future direction of the East Midlands. Our region is home to a huge range of businesses from global manufacturers through to small high street retailers and through this board we can shape policies and support programmes that will drive growth across our region.”

EMCCA’s Business Advisory Board will include 16 members, including representatives from the private and public sector and East Midlands Chamber of Commerce. Private sector representatives will include experts from large businesses, small and medium enterprises and sectors with a significant chance of attracting further investment.

Members of the Board will be expected to have a good understanding of the East Midlands region and the business sectors that operate within it, experience of leadership roles in business and understand the challenges faced by businesses.

The Business Advisory Board will meet four times during each financial year.

More information about the Business Advisory Board including details about the role of the board and the person specification for members can be found in the East Midlands Combined County Authority Board papers from Monday 17 June: (Public Pack)Agenda Document for East Midlands Combined County Authority – Board, 17/06/2024 11:00 (derbyshire.gov.uk)

Two briefing sessions for businesses are set to take place on the following dates:

  • Weds 14th at 1400
  • Thurs 15th at 0930

Anyone wishing to express an interest in joining EMCCA’s Business Advisory Board should contact Acting Executive Director for Strategy and Inclusive Growth, Will Morlidge at will.morlidge@eastmidsdevo.org.uk

claire ward speaking into a microphone at Celebrate Chesterfield

 

 

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East Midlands Mayor meets new Prime Minister to discuss devolution

The Mayor of the East Midlands, Claire Ward, has been Downing Street with the country’s regional mayors to meet Prime Minister Keir Starmer and Deputy Prime Minister Angela Rayner to discuss more powers and funding for the East Midlands.

Mayor Claire attended a high-level roundtable for UK Mayors as the government announced it was setting up a council for regions and nations to support a drive to loosen Westminster’s “tight grip” over big cities and regions.

The Prime Minister said: “I’m a great believer in the idea that those with skin in the game – those that know their communities – make much better decisions.”

The government has said it wants to give more power to the regions, recognising the part regions like the East Midlands have to play in delivering economic growth – a central pledge by the new government.

Mayor Claire said: “It’s the beginning of a new era for our villages, towns and cities. After years of languishing at the bottom of every funding league table, the East Midlands will finally get the investment it deserves. I wholeheartedly welcome the Prime Minister’s commitment to giving our communities more of a say on some of the most important issues.

“I think it’s significant that the roundtable took place so early in the government’s first week in charge. Both the Prime Minister and Deputy Prime Minister understand that mayors are uniquely placed to make the best decisions for the places we serve and know that we can lead the drive for growth across the country.

“It was, of course, a thrill to be in Downing Street and make the case for our great region. There are many challenges ahead, but I’m confident we’ll have great support from the government to make our region the best place to live, to work and to learn.”

Find out more about why Chesterfield is an ideal location to base your business: https://www.chesterfield.co.uk/business/invest-in-chesterfield/

Claire Ward and regional mayors stood in front of London bus

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Chamber reacts to general election announcement

East Midlands Chamber has reacted to the news that a general election will be held on 4th July 2024, reflecting on what it means for our region.

Yesterday, Prime Minister announced the news that Britain will be going to the polls this summer.

Scott Knowles, Chief Executive of East Midlands Chamber commented: “Confirmation that the General Election will be held on 4th July is something we welcome as a politically uncertain environment can hinder planning and decision-making for businesses. Regardless of who is in power, we’re clear in the East Midlands of the policy reform that we need to see to enable business growth.

“For too long our region has been overlooked when it comes to investment, despite the fantastic businesses we have here and our status as a Centre of Trading Excellence – making, moving and innovating the goods and services that make our country tick.  Earlier this year we went to Westminster to present our asks directly to the government in our Manifesto for Growth 2024.

“The Manifesto is the direct result of what businesses have been telling us they need from the next UK Government and provides a clear blueprint for the things that would support our growth and success.  The document details specific policy asks across four key areas – People and Skills, Infrastructure and Connectivity, Planning, Taxation and Regulation.

“We look forward to continuing our conversations with all of those standing to represent communities in the East Midlands over the coming weeks and ensuring they understand the ways that, if successful, they can support our local businesses to deliver the growth and success that the whole country wants to see.”

East Midlands Chamber is currently working alongside Chesterfield Borough Council to deliver support for organisations in Chesterfield through the Chesterfield Accelerator programme. Find out more about the support available at: https://www.chesterfield.co.uk/business/business-support/

East Midlands Chamber supports the marketing and economic growth of the town through Chesterfield Champions, a network of over 200 organisations across Chesterfield and North Derbyshire.

Man wearing suit speaking on a stage at a lectern

Scott Knowles, East Midlands Chamber

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East Midlands set to shine at national economic development event

Regeneration across the East Midlands will be put under the spotlight at a major investment and infrastructure forum next month.

The UK’s premier economic development event, the UK Real Estate Investment and Infrastructure Forum (UKREiiF) is taking place this year from 21-23 May in Leeds.

UKREiiF aims to connect people, places and businesses to drive sustainable and inclusive investment – regenerating towns, cities and driving development – which in turn have a positive impact on communities, economic growth and prosperity.

Representatives from D2N2 LEP will be attending UKREiiF and will lead an interactive panel discussion on 22 May – ‘Focus on the East Midlands: our Time is NOW’.

During the panel session, delegates will hear directly from the new East Midlands Mayor, who will be confirmed once elections have taken place on Thursday 2nd May. Senior leaders from D2N2 LEP, East Midlands Freeport and the East Midlands Development Company will also outline investment and development opportunities in Derbyshire and Nottinghamshire, and explain how devolution is set to transform the East Midlands region.

With access to up to £4 billion funding to invest in skills, transport, homes and regeneration and decarbonisation, the East Midlands devolution deal represents a once in a generation opportunity for our new East Midlands Mayor to use their new powers and new funding to drive growth and prosperity across the region. Panellists will discuss major infrastructure investment propositions coming on stream in our region such as the East Midlands Investment Zone, the STEP Fusion programme and the East Midlands Hydrogen cluster.

Devolution Panellists sat at table on stage with full audience listening

Panel discussion on East Midlands Devolution at UKREiiF 2023

Panellists include:

  • The newly elected East Midlands Mayor*
  • Elizabeth Fagan CBE, Chair D2N2 LEP
  • Nora Senior CBE, Chair, East Midlands Freeport
  • Sir Chris Haworth, Chair, East Midlands Development Company

*The East Midlands Mayor will be elected on Thursday 2 May and will confirm attendance following the election

The panel will be chaired by independent broadcaster Geeta Pendse

D2N2 LEP Chair, Elizabeth Fagan CBE, said: “During the panel, I’m looking forward to discussing the wealth of investable propositions we have in Derbyshire and Nottinghamshire, such as the East Midlands Investment Zone, that will focus on advanced manufacturing and green industries. The Investment Zone will complement our region’s low carbon prowess in nuclear and hydrogen, in particular the STEP Fusion programme in North Nottinghamshire and our East Midlands Hydrogen Consortium, our unique inland hydrogen collaboration cluster. The East Midlands is on the cusp of a very exciting future and it’s vital that we seize the momentum that devolution brings to transform our region.”

East Midlands Freeport Chair, Nora Senior CBE, said: “We have been presented with a once-in-a-lifetime opportunity to attract and drive investment, innovation, and green growth across the region with two landmark destinations offered by East Midlands Freeport and the new combined authority’s investment zones. This panel will be an excellent showcase for all that the East Midlands has to offer investors who are keen to harness the skills, expertise and manufacturing heritage we have on offer here in the heart of the country.”

The Chair of East Midlands Development Company , Sir Chris Haworth said: “This is a momentous year for the East Midlands. We are looking forward to working with the East Midlands Combined County Authority and Mayor. There are some hugely exciting opportunities in the region which is at the centre of an energy revolution with the emergence of STEP nuclear fusion. Later this year, the closure of Ratcliffe Power Station, which is the last coal fired power station in the UK, marks a significant moment in history and provides a key location for economic growth adjacent to East Midlands Parkway Station.”

Delegates representing Destination Chesterfield will be in attendance at the event, discussing the wide range of investment taking place across the town with fellow attendees.

Peter Swallow, Chair of Destination Chesterfield said: “UKREiiF is an excellent opportunity to showcase our region, which we know has huge potential for investment and growth.

“Chesterfield has seen a significant amount of major regeneration over the past decade, with several multi-million-pound projects still coming forward.

“We look forward to seeing how devolution in the East Midlands will bring further growth to our town and surrounding areas – improving jobs, skills, infrastructure and quality of life for our people.”

Join the interactive panel session at UKREiiF to discuss how Team East Midlands is working together to unlock our region’s £4bn investment opportunity and create a brighter future for Derby, Derbyshire, Nottingham and Nottinghamshire. The panel is free to attend for delegates attending UKREiiF.

Focus on the East Midlands: Our Time is NOW

To find out more about why Chesterfield is a perfect location to base your business, go to: https://www.chesterfield.co.uk/business/invest-in-chesterfield/

waterside place

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East Midlands Chamber at Westminster to Present Growth Manifesto for the Region to Government

Improvements to taxation, infrastructure, skills alongside reform of the planning system are among key asks that will be handed to the UK government and MPs today in a new manifesto from East Midlands Chamber.

Under the proposals taxation and regulation would see reforms to make them simpler, transport would benefit from electrification of the Midland Main Line and upgrades to key road networks, while acceleration of full-fibre broadband roll-out across the East Midlands would boost digital growth.

The document also identifies the ‘Big Opportunity’ for the East Midlands – to develop the region as a centre for the future of energy production, storage and provision.

Hosted by Nigel Mills MP, co-Chair of the East Midlands All Party Parliamentary Group, alongside East Midlands Chamber President Stuart Dawkins and Chair of the Board Kevin Harris, and with a delegation of regional business leaders in attendance, the event at 13.00 today in Westminster will mark the official launch of the Manifesto for Growth 2024.

Speaking ahead of the Westminster launch, East Midlands Chamber Chief Executive, Scott Knowles, said: “This document is the culmination of in depth engagement with our members. It builds upon our core themes of Innovation, Infrastructure, International trade and Investment, making specific recommendations in four areas: Skills reform for the reality of today’s workforce; Transport and infrastructure that is fit for purpose; Developing a taxation and regulation regime that is aligned with a long-term vision for the country; and how we fix the broken planning system.

“We’re also really excited to be presenting our Big Opportunity, to create a centre for the future of energy production, storage and provision in the East Midlands. We’ve already had some exciting recent developments in this space, including the STEP fusion plant development in West Burton, the Freeport’s ambitions for the Ratcliffe-on-Soar Power Station site and the work Rolls-Royce are doing on Small Modular Nuclear Reactors.

“A vision of the future where the East Midlands is exporting the products, processes and people that can deliver Net Zero is absolutely possible, and it’s essential that we get the right policy support from Government to unlock that opportunity.”

Chris Hobson, the Chamber’s Director of Policy & Insight, added: “We might not know when a General Election will be called, but it’s a certainty that it will at some point in the next ten months. With economic growth still precarious after several disruptive years, it’s a critical time to release this Manifesto that outlines the things businesses have told us they need for those that live and work in the East Midlands to be successful.

“This isn’t a zero sum game. If we get this right we all win. And the policy environment in which we operate is a key enabler to helping us get this right. Whoever is leading the country, businesses themselves will continue to do what they’ve always done: looking to develop opportunities, open new markets and maximise the materials they have and circumstances they are in to be successful.”

Some of the key asks in the Manifesto for Growth 2024 include:

• Business rates: Full review of the system.
• Tax and regulation: Simplify the R&D tax credits system.
• Skills: Incentives for businesses that invest in staff training.
• Infrastructure: speed up rollout of full-fibre Broadband.
• Planning: Let the private sector plug gaps on council staffing.
• Transport: Full electrification of the Midland Main Line commitment, reinstatement of direct rail links between Coventry and Leicester and improvements to the A50/A500 and A46 corridors.

Chris Hobson, East Midlands Chamber

Chris Hobson, East Midlands Chamber

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Chamber lands global accreditation for workplace wellbeing

East Midlands Chamber is helping to set the bar for workplace wellbeing after landing a global accreditation – with the help of the region’s top expert in the field.

The region’s largest business representation group has achieved the WELL Health-Safety Rating at its offices in Chesterfield and Nottingham, following consultancy support from workplace consultants and office fit-out specialists Blueprint Interiors, based in Ashby-de-la-Zouch.

Administered by the International WELL Building Institute (IWBI), the rating is an evidence-based, third-party verified rating for buildings that focuses on operational policies, maintenance protocols, stakeholder engagement and emergency plans to address a post-Covid environment now and into the future.

WELL certification helps large and small businesses to take the necessary steps in order to prioritise the health and safety of their staff, visitors and stakeholders by reviewing environmental aspects such as air and water quality, nourishment, light, noise and comfort.

The WELL Health-Safety Rating focuses on stakeholder engagement, health resources, emergency preparedness and cleaning procedures. East Midlands Chamber director of resources Lucy Robinson said: “The pandemic shone a new light on how we manage workspaces in order to instil confidence among employees and visitors who use our buildings, whether it is everyday or on a hybrid working basis.

“We therefore felt it was important to adopt a recognised standard to ensure our buildings support the wellbeing of our people when they are working from the office in order to support collaboration with colleagues.

“Working closely with our patron Blueprint Interiors, we focused on areas including air and water quality management, cleaning and sanitation, emergency preparedness, health service resources, and stakeholder engagement and communication.

“As a result of these efforts, we are delighted to have received the WELL Health-Safety Rating, which we believe will enhance our offer as an employer of choice in the region while also acting as an exemplar for our 4,000-plus members.”

Workplace design consultancy and interior fit-out specialist Blueprint Interiors became the first company in the East Midlands to achieve the WELL Health-Safety Rating in 2021, and now supports other businesses to meet the requirements for accreditation.

Rebecca Beadle is a WELL-accredited professional, and lead project designer and well-being specialist at Blueprint Interiors.

She said: “We are continuously innovating in order to bring workplace consultancy, practical processes, sustainable building techniques, psychological theory, data insights and accreditations such as the WELL Building Standard together to ensure workplaces meet the needs of the people that use them. East Midlands Chamber has fully embraced all these principles and we are pleased to have been able to support it to achieve this prestigious rating.”

East Midlands Chamber supports the marketing and economic growth of the town through Chesterfield Champions, a network of over 200 organisations across Chesterfield and North Derbyshire.

Dean Symonds and Lucy Robinson

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Regional unemployment rate remains among lowest in the UK

The East Midlands’ unemployment rate has remained at 3.7% for the fifth month running, new figures by the Office for National Statistics (ONS) show.

It puts the region near the top of the list for having a low proportion of over-16s out of work and significantly below the UK average of 4.2%.

The data, for the period between August and October 2023, means the region’s unemployment rate has now been under 4% for the past two years, having last been above the threshold in the three months to October 2021.

The economic inactivity rate for 16 to 64-year-olds – which measures the number of working-age people who have dropped out of the labour market for reasons such as retirement, caring duties, long-term ill health or studying – remained at 20.9% for the East Midlands for the third consecutive month, above a pre-pandemic trend around the 19% mark.

East Midlands Chamber chief executive Scott Knowles said: “The fact our region’s unemployment rate has remained at a relatively low level for such a prolonged period is testament to the efforts and resilience of our region’s business community in the face of significant economic challenges.

“Rising economic inactivity has been one of the greatest concerns over the past couple of years as it led to a dwindling labour market, which has restricted capacity – and therefore the ability to grow, raise productivity and bring prices down.

“While this rate remains above pre-Covid levels, it’s pleasing to see this has now come down by about 2% throughout this year, giving firms more room to manoeuvre.

“However, our own research shows there is no room for complacency. Our Quarterly Economic Survey shows a net 7% of businesses have increased their workforce during the final three months of 2023, compared to a net 15% in the previous quarter – an indication of the tough trading challenges that persist. Over the next three months, a net 17% expect their workforce to expand in size, so prospects may improve.

“Many employers continue to face challenges with filling job vacancies. More than half (55%) of organisations attempted to recruit during Q4, and more than seven in 10 (72%) of these experienced problems in finding suitable staff. There are particular shortages to fill skilled manual and technical roles, as well as professional and managerial positions.”

East Midlands Chamber published its regional economic blueprint, titled A Centre of Trading Excellence: A Business Manifesto for Growth in the East Midlands and Beyond, in November last year, urging Government to focus on the “four Is” of investment, innovation, infrastructure and international trade.

It set out a list of policies to encourage businesses to invest in their people, including introducing flexible incentives for businesses that invest in staff training and bringing forward the introduction of the Lifelong Loan Entitlement to support retraining and the retainment of an older workforce.

Scott added: “We really need a dedicated Government policy that supports companies to invest in their people, whether that be in upskilling their existing workforce or reskilling prospective employees to fill skills gaps.

“We must also tailor policies to recognise the diversity of people who are out of work and avoid a one-size-fits-all solution. We would also like to see Government work with businesses to offer support, and share best practice, on what a flexible and inclusive workplace looks like as this is another vital ingredient in enticing people back to work.”

To read the Chamber’s Business Manifesto for Growth, A Centre of Trading Excellence, visit www.emc-dnl.co.uk/manifesto.

 

Scott Knowles

Scott Knowles, Chief Executive of East Midlands Chamber

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East Midlands can ‘lead the way’ in energy transition, Midlands Energy Summit hears

The East Midlands has the potential to “lead the way” in the energy transition to net zero by holding some of the key ingredients – but businesses need more support to make changes right now.

These were two of the headline messages at the Midlands Energy Summit, held by East Midlands Chamber at the University of Nottingham’s Trent Building yesterday (Thursday 30 November).

Speakers from major organisations including Toyota, Uniper, National Grid and the East Midlands Freeport gave an insight into some of the clean energy activities happening in the region, including in hydrogen, nuclear fission and nuclear fusion.

A new East Midlands zero-carbon innovation centre, which aims to transform cutting-edge green research at the University of Nottingham and Loughborough University into commercial products, was announced by the Freeport’s chief executive Tom Newman-Taylor at the event – with the Freeport contributing £5m over funding towards the initiative.

East Midlands Chamber director of policy and insight Chris Hobson said: “With three of the big bases for future energy provision – hydrogen, nuclear fusion and nuclear fission – being developed here in the East Midlands, across a range of nationally-critical projects and research that is backed by public and private sector investment, we are leading the way in the energy transition.

“It was fascinating to hear more about some of these plans from the major players in these areas, and the new East Midlands zero-carbon innovation centre is an exciting initiative that taps into these strengths while developing new sectors that will deliver further investment and high-quality jobs for our communities.

“But while the future holds plenty of promise, we mustn’t forget about what we can do here and now to make gains in the green agenda. Toyota is a great example of a company making small adjustments to save lots of energy and while some of these learnings can be passed down through the supply chain, there is plenty more we can do.

“Small businesses tell us they want to make the necessary changes to decarbonise their operations, and many are already taking huge strides forward, but require more support.

“Our Sustainable East Midlands initiative can signpost businesses to funded programmes, events and best practice. More broadly, it’s crucial for businesses, the public sector and universities to work closer together to develop research and roll out new technologies that will help the East Midlands and UK to become a world leader in the net zero economy.”

Midlands Energy Summit - Scott Knowles

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