The Business Magazine - South West & West Midlands

Bath Start-up sold for eight figure sum 🪙🎉 Bath start-up LUX Rewards has been sold with an eight-figure valuation. Founded in 2015 by Bristol-born James Courtney while studying at the University of Bath, aged just 21, Lux Rewards started as a dining rewards app, connecting customers with high-end restaurants. Despite early backing from the Just Eat Accelerator and local angel investors, the start-up struggled in its early years. At one point in 2019, the business was just two weeks from shutting down entirely. The business has now reportedly been sold to global software company Enigmatic Smile, a London-based customer rewards technology provider, which first invested last year. Last year, Lux Rewards won Fintech of the Year at the EntreConf Awards, sponsored by Cazenove Capital in Bristol last September. On winning the award, the company said... Continue reading... https://lnkd.in/dUDvYs3Q SETsquared Bath Innovation Centre, SETsquared Partnership #finance #investing #sales #deals #startup #fintech #bathnews #bathhour #businessnews #businessintelligence

£30k grant powers Solihull firm’s global growth plan 🪙🌎 A Solihull electronic engineering and control panel design and manufacturer whose control systems already power industry in the UK and beyond is continuing its growth into international markets thanks to funding from Business Growth West Midlands (BGWM). Mayor Richard Parker and Solihull Metropolitan Borough Council leader Cllr Ian Courts visited Controlsforce Limited on Tuesday 25 February, to hear how its £30,000 growth grant had helped fund the expansion of its manufacturing premises and its workforce, helping it to take on a major new overseas contract. Managing director Marc Bozdogan now expects turnover to more than double this year as the company scales up its exports on the back of the additional capacity funded by the grant. Mr Bozdogan said... Continue reading... https://lnkd.in/dAwG8_4S #technology #innovation #manufacturing #engineering #investing #growth #businessnews #businessintelligence

SWIG Finance secures £10m boost to help small businesses across South West 🪙🎉 Investment group SWIG Finance has secured a capital injection of £10 million from Triodos Bank UK and Better Society Capital (BSC) through the second phase of the Community Investment Enterprise Fund (CIEF). The £10 million facility enables SWIG Finance to support more micro and small businesses in the South and West Country. Small businesses across the region report finding finance a key challenge. Community Development Finance Institutions (CDFIs) like SWIG Finance are designed to support small businesses that may not be able to secure funding from mainstream lenders. The keystone investment will significantly increase the funds available for lending to underserved businesses. This funding forms a part of a larger, now £72 million investment initiative, aimed at supporting micro and small businesses (MSMEs) across England and Wales. The fund is managed by Social Investment Scotland and deployed via a network of regional CDFIs including SWIG Finance, Finance For Enterprise, BCRS Business Loans and Business Enterprise Fund (BEF) | Loans & Finance for Small Businesses. Continue reading... https://lnkd.in/dqch_Vxj #finance #investing #smallbusinesses #SMEs #deals #support #banking #southwest #businessnews #businessintelligence

New restaurant to open in Cheltenham 🍽️👀 The owner of LA PETITE BRASSERIE in Cheltenham is opening a second restaurant in the town. Chef 'supremo' Ram Jalustram is taking over the site previously known first as Koloshi, then more recently The Gagan, on London Road. Ram will open his new restaurant concept in early April. Ram is an award-winning chef and entrepreneur with experience as Executive Head Chef at some of the world’s finest establishments, including running and working at four of Gordon Ramsey’s London empire as well as being the executive chef for the prestigious: five-star Gleneagles Hotel, Resort and Golf Course. Ram said... Continue reading... https://lnkd.in/dwyutiv3 #restaurant #cooking #food #property #realestate #thingstodo #cheltnews #chelthour #businessnews #businessintelligence

"World's longest running science communications programme" is 20 years' old 🌐🎂 FameLab International, the world’s longest running and furthest-reaching science communication competition, kicked off celebrations for its 20th anniversary year by heading to Antarctica. In its milestone year, FameLab hosted a regional heat on Livingston Island. Through Cheltenham Festivals' partnership with Beautiful Science in Bulgaria, the event – organised in collaboration with SOFIA University’s Department of Education and Civil Science – showcased the competition’s commitment to breaking boundaries. Five budding scientists, engineers and researchers took to the stage to explore topics spanning glaciers’ internal temperatures, controversies over cryotechnology and climate change. Each participant had just three minutes to convey a scientific concept of their choice to an audience and expert panel of judges. Winner Petar Sapundjiev, an engineer and environmental volunteer, emerged victorious, having best demonstrated FameLab's 3 C's – Content, Clarity and Charisma – to reveal what the chef at the Bulgarian Antarctic Base has in common with Sir Issac Newton. Continue reading... https://lnkd.in/eDX37-97 #communications #science #anniversary #growth #technology #innovation #cheltnews #chelthour #businessnews #businessintelligence

£230m DHL investment in Coventry will create hundreds of jobs 🪙💼 Logistics giant DHL has invested £230 million in a new e-commerce hub in Coventry which will create up to 600 local jobs, in the latest in a series of job-boosting investments across the UK. Business Minister Justin Madders formally opened the new hub which covers 25,000 m² of space and can handle up to a million parcels a day, speeding up delivery times for UK consumers in a major win to the Coventry and wider West Midlands economy. This announcement comes as the latest research shows the UK is expected to reach a turnover in e-commerce of £176 billion by 2029, leading all European economies. The latest figures from the Department for Business & Trade also show the West Midlands region landed 133 foreign direct investments in 2023/24, generating 7,581 new jobs. Business Minister Justin Madders said... Continue reading... https://lnkd.in/eQv5HdTr #finance #investing #jobs #recruitment #careers #property #warksnews #warkshour #businessnews #businessintelligence

Pioneering South West tech accelerator secures government funding 💼🪙 Tech South West has secured government funding to expand its successful Growth Forge accelerator in 2025. The funding comes via the Barclays Eagle Labs Ecosystem Partnership Programme, funded by government, which supports organisations embedded in their local entrepreneurial ecosystem to boost their support to tech and digital businesses. Applications are now open for the 2025 programme, which introduces three specialist growth tracks covering AI, MarineTech and CleanTech alongside its core offering. Continue reading... https://lnkd.in/g7ag3PCA #technology #innovation #finance #investing #deals #government #smallbusiness #southwest #businessnews #businessintelligence

Friday good news: Business confidence rises across South West and West Midlands 💼📈 Business confidence across the South West and West Midlands rose nine points during February to 42 per cent and 60 per cent respectively, according to the latest Business Barometer from Lloyds Banking Group. While companies in the South West reported slightly lower confidence in their own business prospects month-on-month, down three points at 54 per cent, their optimism in the economy rose 10 points to 30 per cent. A net balance of 32 per cent of businesses in the region also expect to increase staff levels over the next year, up seven points on last month. Continue reading... https://lnkd.in/eXciJrAQ Lloyds Business & Commercial #businessconfidence #confidence #finance #investing #report #growth #westmidsnews #westmidshour #businessnews #businessintelligence

Aston Martin Lagonda Ltd reduces headcount in "necessary" cost-cutting plan 🚗💼 Aston Martin has cut its workforce by five per cent after losses widened by a fifth last year and it sold fewer cars than in 2023, following a string of supply chain issues and production delays. The manufacturer is planning to axe 170 jobs as it seeks to return to profit amid a rollout of new product launches. It plan is to make sure the company is “appropriately resourced for its future plans”, calling the cuts a “difficult but necessary action”. Aston Martin said it is targeting yearly savings of £25 million, and expects to hit about half of that total this year. Continue reading... https://lnkd.in/eWkiaCbv #recruitment #careers #finance #investing #automotive #jobs #warksnews #warkshour #businessnews #businessintelligence

Cheltenham manufacturer supports next generation of green engineers 🟢⚙️ Cheltenham-based Puredrive Energy Ltd has donated a range of cutting-edge Duracell Energy storage and renewable technology products to the newly opened Green Skills Centre at the College of West Anglia (CWA) in King’s Lynn. The facility, which was officially opened by James Wild MP for Northwest Norfolk, is set to play a key role in training the next generation of engineers for the UK’s rapidly growing green economy. With the East of England poised to become a major hub for clean energy production over the next decade, the Green Skills Centre is a crucial investment in skills, innovation, and opportunity for West Norfolk. Students at the centre will gain hands-on experience with the latest renewable energy technologies, including solar power, battery storage, and electric vehicle charging—key skills that will be in high demand as the UK transitions to a low-carbon future. Continue reading... https://lnkd.in/eytRGnRt #manufacturing #engineering #recruitment #careers #sustainability #ESG #cheltnews #chelthour #businessnews #businessintelligence