Business Round Table - Firms review 2023 in Chesterfield

Over the last year, the town has seen a record amount of start-up businesses, combined with the success of new spaces such as the Northern Gateway Enterprise Centre and One Waterside Place, the former of which is more than 80% occupied and the latter is now fully let.

What’s more, 2023 saw the introduction of several new events, including the Chesterfield Children’s Festival, Eat in The Park, and Peddler Market, bringing new visitors to the town, and encouraging residents to rediscover the area.

Businesses in Chesterfield remain positive, drawing on inspiration from the developments which have come out of the ground this year, and announcements of more new projects set to come forward in 2024 and beyond.

This month’s round table, organised by Destination Chesterfield in conjunction with the Derbyshire Times, brought together representatives from businesses across the town’s network of Chesterfield Champions to look back on a productive 2023 and discuss the outlook for the year ahead.

Participants

DS - Dom Stevens – Manager, Destination Chesterfield (Chair)

AS - Cllr Amanda Serjeant - Deputy Leader and Cabinet Member for Finance and Asset Management, Chesterfield Borough Council

SK - Scott Knowles – Chief Executive, East Midlands Chamber

DST - Dominic Staniforth – Chartered Accountant, BHP Chartered Accountants

RA - Rachel Allison – General Manager, Rose Cottage Doggy Daycare

NV - Nick Varley – Compliance and Business Development, SMH Group

MG - Mark Gilman - Director, Business Improvement & Growth, University of Derby

PL - Paul Lewis – Head of Partnerships, Mortgage 1st

What have been the biggest achievements for Chesterfield this year, especially in the context of a tough economic climate?

DST - The £20 million of levelling up funding that Chesterfield has won is a huge opportunity. For several years, we've been talking about a lot of projects which have been going on, and it's nice to see some of those coming to fruition and being occupied.

AS - From a Council perspective, the fact that we opened One Waterside Place and that is now fully let just shows the strength of the appetite that people want to base businesses in Chesterfield.

SK – You’ve got a congregation of projects that are all starting to mature, and many of us can remember those projects starting to be developed maybe a decade ago, or even more in some cases. To see a lot of those now being delivered and starting to have an impact is something to be proud of.

MG - As we know, 2023 has been a difficult year economically. However, our recent research shows small businesses in Chesterfield are growing and we've got more births than deaths of businesses. So, all of that is very positive under the present economic circumstances.

RA - Obviously, the regeneration of Chesterfield Waterside is a big positive. It's bringing about that much-needed change to make our town bustling and vibrant.

PL – We’re seeing lots of new housing coming forward in Chesterfield, and the demand is still high too. The housing market has remained very resilient and is bucking the trend compared to other towns.

NV - One of the things that's impressed me is the way in which Chesterfield has raised its own awareness, and it's not the easiest job when you're close to Sheffield, Derby and Nottingham. From a business point of view, we've certainly noticed a significant upturn in 2023 with new business in and around Chesterfield.

AS - I'm going to put Stephenson Memorial Hall in the mix here as well. We've got contractors on site and work is well underway. It is going to make a fantastic cultural hub for people in Chesterfield.

SK - There is a richness of different types of accommodation for businesses in the town centre, and slightly adjacent to the Town Centre at places like Dunston and Tapton. I think that that's all really positive because we still get lots and lots of businesses all seeking different types of accommodation and Chesterfield has now got offers for no matter what you want.

NV - We decided to go forward with the stadium sponsorship at Chesterfield Football Club and it's been one of the best decisions that our firm has ever made. The team are doing fantastically well, and the stadium itself lends itself to so many different uses. It's really become a huge part of the whole community.

How important are local events and festivals in raising the profile of Chesterfield?

DST – Chesterfield has some significant public assets, which other towns don't particularly have. We mentioned the football club, and there is also the Winding Wheel, the Pomegranate Theatre, and Queen's Park. Those are all fantastic assets and it's important to make the most of them to make Chesterfield a destination.

NV – I grew up in Sheffield, but as a child, I started coming to Chesterfield with my grandfather to watch Derbyshire Cricket Club in Queens Park. I just fell in love with it. We have a lovely town centre which is just a five-minute walk away from the park too, which I love.

AS - It's important that people and families have things locally that they can go to. I love going to the monthly artisan market, and I really enjoyed the Peddler Market. I’ve also heard how excited people are to be able to meet Santa in the Market Hall on the run-up to Christmas. All these things support the area and happen because of partnership working.

SK - I think in this post-pandemic period, everybody's got a choice about how, where and when they shop. Therefore, you've got to give a reason for people to come into town and not shop entirely online. Chesterfield punches above its weight in terms of the volume of events. It’s all about transforming our towns into more of an experiential day out.

MG - We shouldn't underestimate the knock-on effects of things like events, and heritage tourism. They all impact the SME community. People are now looking for different blends of leisure and retail, and these kinds of things change the nature of the high street. But we're also now in a global economy with the Internet and the technology that we use. If you can harness that and use it in an integrated strategy, there's a great level of growth for the future.

DST – Of course, there are still challenges, but one thing that could kickstart growth is encouraging people to live in our town centre. They would be more encouraged to spend in the area and go out in the evenings, which would change the whole dynamic of the town for the better.

Firms across the UK have continued to face issues with inflation, energy bills and supply chains. However, that hasn’t done anything to slow down regeneration and investment in Chesterfield.

RA - I remember going into town with my mum every Saturday to do the shopping when I was younger. However, I now have two young kids, who absolutely hate shopping. But when there is an event in town, it gives them an appeal to want to go in and visit. Yes, we've got the ease of Internet shopping, but having these events in Chesterfield makes the idea of coming into town more appealing.

AS - Chesterfield won ‘Best Small City’ at East Midlands in Bloom for 2023. Things like that go towards making Chesterfield a fantastic place to live, work and invest.

The success of new office developments in the town has been a major highlight. What do you think are the town’s strategic advantages for investors?

SK - Firstly, you've got some obvious things like the geographic advantage, being slotted where Chesterfield is, and its proximity to the M1. Chesterfield is easy to get to, has good public transport, and a good road network.

DST - I think it's the value proposition when you compare Chesterfield with some of the cities which surround it. Our company has offices in larger cities, and Chesterfield is much, much better value. It's an attractive place for businesses to start up and grow.

AS – Chesterfield Borough Council has a close working relationship with the private sector, and events such as the Investment Summit and the Skills & Employability Conference have built those relationships up over time. We have supportive businesses which help us in our ambitions and in getting the message out that Chesterfield is open for business.

NV - The price advantage that Chesterfield has is quite unique and is extremely competitive. I think there's a really good choice of venues for businesses to set up, not necessarily all in the town centre but in surrounding areas too. I've got a good friend who's got an office at Dunston, and he loves it there.

MG - The fact that Chesterfield continues with new developments is great for the construction industry as well. It’s also about making sure that you have the right businesses and the right jobs. Statistics show that there's a skills shortage, and while things are generally positive, we all need to keep our eye on addressing that.

SK – Chesterfield also has a very cost-effective workforce, which can fit the needs of any type of inward investor, whether that's indigenous or overseas. I think Destination Chesterfield is good at shouting about those benefits on a national and international stage to attract investment to the town.

AS –The new Construction Skills Hub in Staveley is due to welcome its second cohort soon. Then, it will move onto a purpose-built site in Staveley in 2024. It's important that our young people and also people who want to change careers, have the ability to gain the skills that employers are looking for.

SK - Businesses are actively talking about moving to places like Chesterfield, where they've got the ability to expand quickly without the planning regime being very preventative.

How is your organisation planning to support growth and development in Chesterfield in 2024?

NV - From our own point of view, we've signed a deal with Chesterfield Football Club and the Community Trust for three years. I genuinely believe that the team has got a fantastic chance of getting back into the Football League.

RA - Our business had a big win at the Chamber’s Derbyshire Business Awards, which was absolutely amazing. I would say that showcases how we're supporting growth by embracing technology and innovation and working closely with local businesses. I think if we all collaborate with each other, that's really going to help with bringing more success to the town.

DST - The continued development of Waterside is important. It's obviously a huge project, but hopefully having the offices full will create further momentum for others to develop things which have long been promised. The Peak Resort is exciting, and hopefully, that will come to fruition quickly.

MG – The University is continuing its work in the community, alongside students and businesses to bring this nice, applied level to the academic work that we do. We want to be realistic and not seen as academic ivory towers.

PL - We've gone out into schools and educated over 1,500 pupils in and around our local area about mortgages, credit reports, finance, and understanding social responsibility to better equip children to buy properties 5-10 years from now. Our plan is to plant the seed enough to help people with their finances and put themselves in a good position to start with, not fall down the trap of having missed payments on things like mobile phone bills, which unfortunately would stop them from moving into properties further down the line.

AS – As a local politician, I spend a lot of time out and about on the doorstep, talking to people. Sometimes, people don't always feel that what's happening around them, is for them. So, when we looked at refreshing our growth strategy for economic development, we looked very closely at the idea of inclusive growth. It means that people who live in Chesterfield Borough should feel the benefit of what is happening around them, through skills, jobs, training, affordable housing, as well as a low carbon economy.

NV - It's highly likely that we're going to be looking for new premises in Chesterfield in 2024. We're very excited about a few places that have already been brought to our attention. There's no doubt at all that we will be looking to employ more staff in that office too.

MG – In Chesterfield, we've probably got about 85% of companies which are either low-growth or static. If we can get all of those 85% to grow just 1 or 2% per annum better, that is going to have a real impact on the economy.

PL – We’re also looking to launch a new academy at Mortgage First, which is going to equip people to become mortgage brokers and mortgage advisors within Derbyshire. It's something that we're passionate about, and our hope is that we have an Academy where we're bringing in 10 to 15 new mortgage brokers to come and work for us.

AS – We also implement things like local labour clauses, where if you want to work with the Council on a particular development, then you must show what apprenticeships you're going to provide, and what local jobs you're going to provide. If everybody who did business in Chesterfield and North Derbyshire also insisted on the localisation of apprenticeships, skills, training and supply chains, imagine what a difference and impact we could make to our local economy.