Business Round Table - Chesterfield firms praise town's investment credentials

Several multi-million-pound projects are expected to get underway this year in Chesterfield and Staveley’s town centres, with work now taking place to revitalise the historic Stephenson Memorial Hall. Furthermore, planning permission has been submitted for the much-anticipated Gateway @Peak development, giving visitors a base to explore Chesterfield and the Peak District.

Last year saw new office spaces in the town, One Waterside Place and the Northern Gateway Enterprise Centre proving extremely popular with businesses looking to relocate. With further ambitions for growth in 2024, business leaders in the town’s network of Chesterfield Champions discussed if they believe the town can harness the current momentum, and further cement its credentials as a desirable place to invest.

Participants

• DS – Dom Stevens – Manager, Destination Chesterfield (Chair)
• SP – Stacey Pocock – Solicitor and Executive Director, CMP Legal
• MC – Matt Close – UK Business Lead, NeoDyne Ltd.
• RW – Ryan Wilkes – Senior Manager – Owner Managed Business, Shorts Chartered Accountants
• TS – Tom Swallow – Development Manager, Bolsterstone Group PLC.
• RS – Richard Sherwood – Director, Roy Peters Estates
• JE – Jason Evans - HSE Advisor and Principal Designer – Mascot Management Ltd
• AR – Amy Revell – Co-Founder and Director, We Are Spaces Ltd.

Why should businesses consider investing in Chesterfield, and what specific factors contribute to the region's economic appeal?

MC - There are lots of advantages to Chesterfield that some other places have, but it's also competitive. It's centrally located, close to the M1 with good public transport, and that's good both for getting to clients, but also for staff in terms of commuting.

TS – The offices at Chesterfield Waterside are now fully left in less than 10 months, which stands testament to the fact there is demand for high-quality space in the town. The availability of talent is a huge part of it as well, with the University of Derby and Chesterfield College nearby.

RS – The cost base of Chesterfield is significantly cheaper than surrounding cities. Support for businesses is available through the Chesterfield Champions scheme, and the local authority has quite a visionary approach.

TS – The town punches above its weight. When we're looking at delivering schemes, you’re competing with major cities. Chesterfield has many of those tangible things that occupiers look for.

AR - When we first set up the business, we originally had our office in Nottingham City Centre. It was an absolute nightmare even thinking of driving into the centre of Nottingham every day. We then saw the Northern Gateway Enterprise Centre being built and thought would be perfect. We're now moving to the bigger office here, meaning we’re able to evolve and grow organically in the same building.

JE – Looking at the quality of life, being so close to the Peak District and lots of green space is attracting great businesses to the area. You've got a good work-life balance with great outdoor amenity value.

SP - We have been trading in Chesterfield for just under three years. One of the reasons that we chose Chesterfield was the parking. They've just introduced the low emission zone in Sheffield, whereas you get the feeling Chesterfield wants people and businesses to come here, which is great. We managed to find a great location for the office, a lovely building with a lovely feel to it in a nice area.

RW - We find that a lot of small businesses from Sheffield are coming to Chesterfield because the barriers of entry or a lot lower. They've still got the high-quality office space, but it's a fraction of the price compared to a city centre. We have a lot of clients coming into the office, and many of our Sheffield clients come to the Chesterfield office because the parking is much better value.

TS – We’re seeing people from Sheffield also wanting to come to Chesterfield rather than work in the city, which is a big tick in the box for the town as well. The availability of the railway station is also a big driver.

AR - Most of our staff live in Chesterfield and have different types of skill sets. We've got project management, administration and finance, and design. But we've also got people who work for us based in York, just outside of London or living in Sheffield. We've been able to do that because of the transport links as well. People like to live here because it is quite affordable, and you get a good quality of life.

In the current economy, how positive is the outlook for investment in Chesterfield for the year ahead?

SP – More than 95% of our clients are businesses, and we have a full spread of firms, from sole traders to larger businesses. At the moment, things are moving and going well. There is an appetite for investment. We are seeing the buying and selling of businesses, with a lot of restructuring and merging.

DS – From a Chesterfield point of view, we’ve seen lots of investment, but if you look at the media outlook all the time, it's quite doom and gloom. When Destination Chesterfield started 12 years ago, it was all doom and gloom despite the feeling that our businesses were doing ok, but we were not celebrating it. We see it as our role to continue highlighting success across the town.

MC - We're confident, and that’s why we've invested in an office abroad for the first time. I don't know whether it's a bounce back from COVID-19, but we are seeing clients working up to investing in their businesses, which provides a knock-on effect for us.

TS - I think there's a diversification across industries in the town. You're not reliant on one sector in particular. I think there is a very positive outlook for now, and next year with the stabilisation of interest rates and finance, I believe we’ll see people gearing up to take that jump.

JE - In terms of the number of inquiries we get, it's off the chart this year. So, it looks like it's good times ahead if you can convert the momentum into live jobs. Accessible finance, and incentives such as easy-in, easy-out terms, should realise a lot of these projects. It is just a matter of getting spades in the ground.

RW – We thought things had slowed down after the bounce-back loans from Covid tiered off, but it seems to me that they've come back around. We've got companies that have paid them off already and they're looking for more finance to grow, which was a surprise really as we thought people would still be struggling and just getting back to where they were.

AR - I've seen a lot of clients focus on ESG, looking at how the spaces that they have now, or will have in the future are going to be as sustainable as they can be. So, people are investing in high-quality space and not necessarily taking as much space, but they're doing more with the space that they have. Businesses want the other amenities that the space comes with, such as bike stores, showers, and lockers.

DS – You can see from the response to the flooding, the support that's been out there and the offers of help and fundraising have been amazing. I think that's what makes Chesterfield what it is. That community spirit is the same in the business community as well. We're small enough to get together, talk about an issue and make a difference, which is a lot harder if you're in a larger city because it tends to get fragmented.

AR – I also think that Chesterfield businesses look to try and work with other local businesses, so that has created a micro-economy in a way, but that is what has made the businesses resilient and also appreciate how much it matters to have that network of business partnership here.

How much does Chesterfield’s quality of life play into its hands as an attractive place to invest?

RW - Having local green spaces available is always a benefit, especially compared to walking around a big city that's all hustling and bustling. In Chesterfield, you've got that choice of whether you want a slower pace or a fast place to live.

AR - What is quite nice about Chesterfield, is that we do have that smaller community feel. I see so many Chesterfield businesses trying to support people. I think there's a spirit, not just in the businesses but across the board that makes Chesterfield unique.

MC - The green and open spaces in Chesterfield and the proximity to the Peak District are great for our business, our clients and our staff.

SP - I live in Sheffield, and I can guarantee you it takes me less time to get to Chesterfield than it takes me to travel the three-and-a-half miles into Sheffield city centre.

AR – Many of our team walk and have also cycled to work, because Chesterfield in comparison to Sheffield is quite flat. If someone needs to go to a meeting, they can walk to and from the railway station. It's close to the town centre which provides a lot of convenience for residents and businesses. We've got good connectivity from a public transport perspective.

RS – According to Rightmove, we are the happiest place in the East Midlands. The contributions to happiness were feeling a sense of pride, belonging, and community. Access to green space and nature is also important to residents.

In light of changing work trends, how does Chesterfield attract and retain top talent to provide a skilled workforce for its businesses?

SP – I think that Chesterfield’s next step is to become known nationally as a hub for business, commerce, and innovation. We tend to find that people outside the area are still seeing Chesterfield as a small town. That really shouldn't be the case, because the clients that we're servicing aren't the type of clients that you'd expect from a small town. If we shout about all those positives on a national level, we could draw more people in from the larger cities.

DS - The new Destination Chesterfield strategy post-pandemic is all about pushing that messaging more externally, and hopefully, our businesses can continue to help us do that through their networks. The more we can all shout about the town, the more people will hear about us.

TS – The availability of good quality business accommodation is so important because without that, you don't get the kind of businesses that are going to attract people to work here. I think the upcoming East Midlands Combined Authority will play a big part in terms of spreading that message and having a bigger platform to share our successes with.

MC - Attracting good talent is difficult for us, especially in STEM industries. So, when we have the opportunity to get people to come to the business, it's important to keep hold of them because it's such a big effort to get them here. Having somewhere people can afford to live, and enjoy living is crucial to them staying at the company.

JE - We worked with Blue Deer Ltd. to develop the Glass Yard and Batch House on Sheffield Road. As part of that, we worked alongside Chesterfield College, bringing two or three groups to the site, and showing them how things work. It is important that our young people see what industry they're going into. It’s about paying it forward to provide some inspiration to your young people.

DS – We have to inspire local people to discover the industries we have. We’ve been involved in Made in Chesterfield since 2014, which links school pupils to manufacturing and engineering businesses in the town. We also worked with partners to pilot the Careers Made in Chesterfield project alongside the property and construction sector last year, which saw businesses delivering workshops at a local secondary school.

AR – I think that it’s how you target younger people too. So many kids are on TikTok now and are learning how to solve problems there. Many even use it as a search engine to get answers to questions too. So, we need to make sure we are using the right medium to target younger audiences.