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The organisation based in Chapeltown is set to host a series of enterprise themed events next week to mark the occasion and encourage young people looking to break into the industry.

Research published in SME Magazine shows six in 10 young adults plan to be their own boss by the age of 30, suggesting that the launch of a new business hub in Leeds couldn’t have come at a better time.

To celebrate the hub’s grand opening, on Monday 13th May the launch of Steps to Business is kicking off a week of enterprise themed events. The scheme is a start-up training programme aimed at aspiring entrepreneurs aged 16-25 who will be linked up with access to investors and business advisers.

On Wednesday 15th, Enterprise Takeover Day will be happening – an informal event offering a one-stop shop for all business support needs from industry experts across West Yorkshire.

Commenting on the news, Adrian Green, Unity Enterprise Manager, said: ‘We are excited to be hosting such an impressive line-up of activities over the course of five days, each with entrepreneurship at its heart.

‘Steps to Business will use non-conventional training methods to help those taking part realise their dreams.  The launch event on Monday is free to attend and we are expecting lots of foot fall from noon until 4pm when it concludes.

‘We are also hugely grateful to AD:VENTURE for organising the Enterprise Day on Wednesday which, again, is free entry for all.’

Leeds Media Centre is one of three business groups operated by Unity Enterprise, the not-for-profit subsidiary company of BME housing association Unity Homes and Enterprise, and it recently underwent a £1.8m refurbishment in partnership with Leeds City Council and the European Regional Development Fund.

Cedric Boston, Unity Homes and Enterprise Chief Executive, said: ‘Leeds Media Centre is already a hive of entrepreneurial activity.  The new business hub will enable it to play an even greater role in empowering local people to succeed in business.

‘Creating and improving life chances is at the heart of everything we do.  Starting and growing a sustainable business can be the key that unlocks doors to social and economic progression in vibrant neighbourhoods.

‘As a BME housing association with our roots firmly in the local communities we serve, we know that the entrepreneurial talent is out there.  We will continue to do everything we can to find and nurture it.’

Image: Leeds Media Centre

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Research discovered over 1,500 people were sleeping rough in Nottingham in 2022, prompting authorities to create a new housing scheme to get people off the streets.

Nottingham City Council have teamed up with Places for People, a leading UK social enterprise organisation, the Department for Levelling Up, Housing and Communities (DLUHC) and Homes England to deliver four self-contained homes to help get people off the streets in the city.

One of the Nottingham homes that is available to get people off the streets.

The properties, which will be managed by Places for People, are fully furnished and occupied by a single adult experiencing homelessness or at risk of it. Each tenant will be able to stay in the homes, which cost £330,000 to renovate, for up to two years.

After two years, tenants will be supported into moving into longer-term accommodation, freeing up the properties for other people at-risk of sleeping rough.

Rachel Crownshaw, group managing director for communities at Places for People, has claimed that within the past year, the organisation have helped over 10,000 people escape homelessness risks and that his new scheme will only excel their efforts.

‘This is going to be such an important service for those in Nottingham who desperately need somewhere safe to live independently,’ Crownshaw said. ‘We’re delighted to see Villa Road open, and I’d like to thank our partners at DLUHC, Homes England and Nottingham City Council for working with us to bring this to life.’

Crownshaw added: ‘People end up rough sleeping for a variety of complex reasons varying from financial trouble, domestic abuse, difficulties with drugs or alcohol, and mental health.

‘That is why this service will be much more than a place to live, we will also be delivering a bespoke plan for everyone living here to help them tackle obstacles or challenges they face and help them access a variety of support services. Through this support, we aim to help everyone who lives here into permanent and independent accommodation and reduce their risk of homelessness again in the future.  

‘I’m proud to say that this service is part of our continued support to help people out of and away from homelessness. In the last year, we have helped almost 11,000 people who were homeless or at risk of being homeless across the UK and we are determined to continue to build on this.’

At the beginning of 2023, figures were published by Shelter – the UK’s leading homelessness charity – which showed that on a given night in 2022 there will have been over 1,614 people recorded as homeless in Nottingham, which is a rate of one in 201 people. This is the highest rate of homelessness found in the East Midlands.

Arguably, the completion of this scheme couldn’t have come at a better time. With previous data already showing that homelessness is a major crisis in Nottingham, the continued cost-of-living issues could only have contributed to the problem.

Cllr Jay Hayes, portfolio holder for housing and ward cllr for Bestwood, said: ‘We have maximised every opportunity for grant funding to support the delivery of the city’s Ending Rough Sleeping plan.   

‘We are therefore very pleased that Places for People Living Plus will be joining the local partnership and delivering new homes to help meet the wide range of needs of vulnerable people in Nottingham.’

Image: Places for People

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Today policymakers at the Bank of England confirmed interest rates will stay at 5.25% but they have hinted at a potential June cut.

At 12pm today, 9th May 2024, experts claimed that although inflation is looking to be ‘moving in the right direction’ as it is expected to hit its target of 2% and would fall to just 1.6% in two years, interest rates will remain at 5.25% – the highest level experienced within the last 14 years.

Members of the Bank’s rate setting monetary policy committee (MPC) – which is comprised of nine individuals – were found to be split on the decision to hold rates at the same level. Swati Dhingra and Dave Ramsden voted to slash rates down to 5%.

However, despite being overruled, it seems support to lower interest rates are growing. In the previous meeting, Dhingra was the only one who voted to cut them.

Andrew Bailey, the Bank’s governor, has suggested that a rate cut at its next meeting in June is a possibility.

‘Before our next meeting in June, we will have two full sets of data – for inflation, activity and the labour market – that will help us in making that judgement afresh,’ Bailey said. ‘But, let me be clear, a change in bank rate in June is neither ruled out nor a fait accompli.’

News of keeping interest rates at 5.25% has, however, come as a shock for small and medium-sized enterprises (SMEs).

Douglas Grant, Group CEO of Manx Financial Group, said: ‘Today’s decision to maintain interest rates at the same level will reassure some businesses and consumers but frustrate others. The path however is set for rates to come down and small and medium-sized enterprises (SMEs) should seize this opportunity to re-evaluate their current lending arrangements and strengthen their positions.

‘Research conducted by Manx Financial Group reveals a significant shift in the financial landscape for SMEs. In contrast to the previous survey, where only 25% faced challenges, the current findings indicate that two out of five SMEs are now grappling with operational slowdowns or halts due to a lack of external financing.

‘The survey also underscores that 15% of SMEs seeking external finance or capital are unable to secure the necessary funds. This financial constraint, coupled with a potentially unprecedented and volatile environment marked by ongoing conflicts, multiple elections, a tightening labour market, and persistent cost-of-living challenges, poses obstacles to the prospects of SMEs and national economic growth.

‘The current government has demonstrated the effective implementation of short-term loan schemes, and we advocate for the next government and Treasury to continue this focus. Prioritising the establishment of a permanent government-backed loan scheme, tailored to resilient sectors and involving both traditional and non-traditional lenders, could be instrumental.’

Daniel Austin, CEO and co-founder at ASK Partners, has welcomed the announcement with open arms as he claims it will benefit the real estate sector.

‘Holding steady at 5.25 per cent as expected is welcome news from the Bank of England for many in the real estate investment market as the UK property sector remains in recovery mode and is starting to adjust to the ‘new normal’ rate environment,’ Austin said. ‘We’re now starting to see a gap in monetary policy develop in Europe with the Swedish central bank deciding to cut for the first time in eight years yesterday.’

Austin added: ‘For those currently looking to invest in commercial and residential real estate without the hassle of ownership, alternative avenues such as property debt investment, which can provide higher returns and also access to liquidity via a secondary market, are becoming more popular.’

In March it was reported that inflation dropped to 3.2% and is expected to have fallen to 2% in April after a reduction in the energy price cap, bringing down household bills monthly.

The Bank said inflation would be bumpy this year after a rise towards an average of 2.5% in the second half of 2024, before falling again in 2025 and 2026 to 1.6%.

Image: Shutterstock

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The Committee has published a new report calling for the government to leave affordable rents to the private sector and to direct their attention to social homes.

Earlier this week, the cross-party Levelling Up, Housing and Communities Committee (LUHC) published a new report titled ‘The Finances and Sustainability of the Social Housing Sector’, in which experts call on the government to invest in the social housing sector to ensure 90,000 new social rent homes can be delivered per year in England.

One of the ways of achieving this, according to professionals who work within the sector, is that the government should stop focusing their attention on affordable rents and they should set a clear, achievable target for the number of social rent homes it intends to create each year.

The report also recommends authorities use land value capture and reforms to grants and funding to support social housing, and help the sector deliver decarbonisation and fire safety improvements – a topic that should arguably be a priority since the tragic fire broke out at Grenfell Tower.

Responding to the report, Darren Rodwell, housing spokesperson for the Local Government Association (LGA), claimed that there are more than 1.2 million households on council waiting lists in this country and over 100,000 households living in temporary accommodation – a record high.

Rodwell said: ‘Long-term certainty on powers and funding could help councils deliver an ambitious build programme of 100,000 high-quality, climate-friendly social homes a year.’

In addition to Rodwell expressing his concerns, a number of other industry experts have also voiced their opinions on the new report.

Andy Hulme, chief executive, The Hyde Group

‘We need to be building around 90,000 more socially rented homes every year to meet existing need. But, to get anywhere near this, we need more public investment which will give the sector confidence and unlock an even larger amount of private investment.

‘Government can play an important role without necessarily as big a price tag. By giving housing providers more certainty on rents and longer funding programmes, investment in homes and the building of homes will be increased.’

Andrea Thorn, director of homes and communities, Riverside

‘Providing a target for the number of social homes the sector should build each year would enable government to work with housing associations and councils to deliver more much-needed homes.

‘Homes England should play a strategic role, providing grant funding for social housing which would help solve the housing crisis, boost the economy, create thousands of new jobs, and reduce pressure on the NHS, criminal justice system and social care system.

‘Ahead of the next general election we urge all political parties to read this report and engage with housing associations on how we can work together to fund and deliver more social housing in the decades to come.’

 In addition, London Councils welcomed the LUHC report, claiming that ‘without more government investment it is hard to see anything but a bleak future for social housing.’

‘With resources massively squeezed, it feels like we’ve been left with mission impossible,’ the spokesperson said. ‘Social housing is crucial to tackling London’s homelessness crisis. It’s a vital component of the capital’s social and economic success, and we should all want the sector to thrive. Boroughs are as keen as ever to work with ministers in ensuring more resources are secured for boosting social housing in London and across the country.’

Image: Huy Hóng Hớt

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