DRIVING BUSINESS AMBITION F I R S T V O I C E . F S B . O R G .U K | O C T O B E R 2 0 2 1 -JA N UA R Y 2 0 2 2
O C T O B E R 2 0 2 1 -J A N U A R Y 2 0 2 2 SUSTAINABILIT Y | COVID-19 SUPPORT | FEMALE ENTREPRENEURS
Doing your bit How the small things can make the world of difference
COVID-19 SUPPORT The ongoing assistance available to help you bounce back FEMALE ENTREPRENEURS Adapting to lockdown conditions – and thriving THE DECLINE OF CASH As cash usage falls, how are small businesses adjusting?
01 Cover_First Voice Oct-Jan 2022_First Voice.indd 1
24/09/2021 09:07
JAGUAR I-PACE
ELECTRIC HAS NEVER LOOKED SO GOOD.
I-PACE FROM £495 A MONTH +VAT* With zero tailpipe emissions and an electric range of up to 292 miles** on a single battery charge, the Jaguar I-PACE not only looks good it also benefits from notable financial incentives and delivers significantly reduced running costs. *Business Contract Hire Initial rental in advance £4,455 +VAT, followed by 48 monthly rentals of £495 +VAT. 8,000 miles per annum. VAT payable at 20%. Model pictured above (includes optional 22” 5069 alloy wheels and Electronic Air Suspension) from £571 a month +VAT, plus initial rental in advance of £5,138 +VAT.
UP TO 292 MILES ELECTRIC RANGE** UP TO 80% CHARGE IN 85 MINUTES USING DC RAPID CHARGER UP TO 1% BENEFIT IN KIND TAX^
INTUITIVE PIVI PRO INFOTAINMENT
To find out more or book an extended test drive, search Jaguar I-PACE.
Fuel Consumption: N/A. CO2 Emissions: 0 (g/km). EV Range: Up to 292 miles. **The figures provided are as a result of official manufacturer’s tests in accordance with EU legislation with a fully charged battery. For comparison purposes only. Real world figures may differ. Energy consumption and range figures may vary according to factors such as driving styles, environmental conditions, load, wheel fitment, accessories fitted, actual route and battery condition. Range figures are based upon production vehicle over a standardised route. Important information, Business users only: Based on a 22MY I-PACE EV400 SE standard specification, non-maintained. Excess mileage charged at 20.8p per mile + VAT. Must be returned in good condition to avoid further charges. Contract Hire subject to status. 18+ only. This promotion cannot be used together with other manufacturer’s promotions and is subject to availability at participating Retailers only for new vehicles registered by 30 September 2021. Contract Hire is provided by Jaguar Contract Hire, a trading style of Lex Autolease Limited, Heathside Park, Heathside Park Road, Stockport SK3 0RB. Model shown may not reflect 22MY specifications. Consult your local Retailer for 22MY specifications. ^Benefit In Kind Tax rates for 2021-22 financial year.
FV.Oct21.002.indd 2
21/09/2021 10:38
OCTOBER 2021-JANUARY 2022
inside 46 My journey Paul Devlin and Judith Neill on bouncing back from disaster
48 Ask the experts Recovering debts and negotiating new leases
06 heads up 6
member spotlight 49 Member news Snail farm slithers to success, ex-fighter on boxing clever, and good fortune for flyer firm
Need to know FSB calls for rates rethink; fall in apprenticeship starts; more support needed for small businesses to ‘level up’
Data centre Confidence falling amid rising costs and reduced exports
Entering the FSB Celebrating Small Business Awards 2022
Our top tax tips; how FSB Insurance Service helped improve an ‘invidious’ insurance renewal quote
10 Opinionated Thérèse Coffey on the Kickstart scheme, Martin McTague on ‘going green’, Dave Chaplin on IR35 and Emma Mahy on adaptability
57 My business Children’s entertainer Ade Bowen talks coping with Covid, and unusual requests
40 Legal
Jo Faragher speaks to four female entrepreneurs to find out how they successfully juggled responsibilities during the pandemic
24 Big picture
30 Deep dive
Do you know your Equality Act responsibilities?
The impact of Covid-19 on the hospitality and tourism sectors
first steps
03-04 Contents_First Voice Oct-Jan 2022_First Voice.indd 3
18 Leading the way
How can small businesses play their part in fighting climate change? Penelope Rance outlines seven simple steps to sustainability
...Market your firm post-Covid; use video to win customers
firstvoice.fsb.org.uk
From loans and grants to rates relief and eviction protection, Alex Wright looks at the various Covid-19 support schemes taking us through to 2022
26 Making a difference
36 How to
How the pandemic changed workspace requirements
14 Safety net
The devastating impact of climate change
advice
43 Business premises
features
52 FSB Awards
54 Member services 9
32
32 Money worries
39
David Adams investigates the fall in cash use – from businesses ‘going cashless’ to the difficulties this presents for certain segments of the population october 2021-january 2022 | firstvoice | 3
23/09/2021 12:24
inside october 2021-january 2022
M I K E C H E R RY O B E , N AT I O N A L C H A I R
62
first word ITH THE POLITICAL PARTY SEASON ON behind us, it is clear there are further her challenges ahead. With the potential al for ongoing restrictions, FSB has become ever more important, ensuring your issues are taken to governments and policymakers. s. While much of the economy is getting back ck up and running, we’re not at full speed yet. For some, normality is yet to arrive, with restrictions on visitors and the ever-present sight of sanitising stations and masks. In this edition of First Voice we explore ongoing pandemicrelated issues, as well as other important topics for small businesses. For many, working from home has become the norm, and businesses are now working with employees to look at the future of work. Live issues include the costs and benefits of continued home working, hybrid models and working hours, as well as maximising productivity. Of course, a number of sectors need employees on site – from construction to manufacturing and retail. In some of these, especially hospitality, recruitment has become a headache. There is also pressure from increasing raw materials costs and other supply chain problems. Alongside all of this, the environment is fast becoming the number one issue for businesses and the public. With COP26 starting at the end of this month, the spotlight on the role that small firms can play is shining bright; many are looking to innovate, while others will need government support to help them adapt. Achieving net zero, switching to electric vehicles, cutting down email usage – all of these issues and more must be addressed if we are to safeguard the planet and the economy for future generations. We can’t afford to squander the chances we have left to turn the tide on climate change.
W
tech bits 58 New kit and apps The best new gadgets and apps for small businesses
60 Digital voice Our pick of First Voice’s online and social media content
out of office 62 I could try... ...Fencing
64 Downtime Teambuilding that boosts nature conservation, too
last word 66 Guy Browning Navigating the pitfalls of a family business
This edition of First Voice went to press on 23 September. All information is correct as of that point.
Publisher: Aaron Nicholls Editor: Nick Martindale Email: firstvoice@redactive.co.uk Lead designer: David Twardawa Picture researcher: Claire Echavarry Sub-editor: Kate Bennett Production: Aysha Miah-Edwards Email: aysha.miah@redactive.co.uk Advertising: Lynne Murray Email: lynne.murray@redactive.co.uk Tel: 020 7324 2726 First Voice is published on behalf of the Federation of Small Businesses (FSB) by Redactive Publishing Ltd (Tel: 020 7880 6200) firstvoice.co.uk | redactive.co.uk
Printed by Warners
4 | firstvoice | october 2021-january 2022
03-04 Contents_First Voice Oct-Jan 2022_First Voice.indd 4
FSB publications manager: James Connor Email: james.connor@fsb.org.uk Tel: 07595 284088
fsb.org.uk While every care has been taken in the compilation of this magazine, errors or omissions are not the responsibility of the publishers or of the editorial staff. Opinions expressed are not necessarily those of the publishers or editorial staff. All rights reserved. Unless specifically stated, goods or services mentioned are not formally endorsed by FSB, which does not guarantee or endorse or accept any liability for any goods and/or services featured in this publication. ISSN 2399-5467 Copyright: FSB Publications Ltd
This paper envelope, and the copy of First Voice magazine inside, are 100% recyclable.
First Voice is available on subscription at £42 per annum. For details, contact james.connor@fsb.org.uk First Voice has an audited net average circulation of 122,603 (Jul 2019 to Jun 2020).
AccessAbility help. If you require this document in an alternative format, please ring 01253 336036 or email: AccessAbility@fsb.org.uk HONOURS Best Digital Magazine – Memcom Membership Excellence Awards 2019 Best Association Magazine – Association Excellence Awards 2018
firstvoice.fsb.org.uk
23/09/2021 12:25
FV.Oct21.005.indd 2
21/09/2021 10:39
8 THINGS YOU NEED TO KNOW
heads up
APPRENTICESHIPS
2
Apprenticeship enti hip starts fall again
1
B U S I N E S S R AT E S
FSB calls for action on business rates SB HAS WRITTEN TO THE Government to highlight steps that should be taken to protect small businesses, spur economic recovery and secure green investment as part of an upcoming review on business rates in England. In a letter to ministers, FSB National Chair Mike Cherry describes the tax as “regressive and outdated”, and encourages policymakers to: Stop penalising investments aimed at improving sustainability and working conditions, such as solar panels, insulation, ventilation, recycling facilities and bike sheds, which typically cause a property’s value, and by extension its rates bill, to increase Exempt all childcare providers from business rates to bring support across England in line with that provided in Wales and Scotland Aid high street recovery by
F
accelerating reforms that have seen some of the smallest businesses removed from the rates system by increasing the threshold for 100 per cent small business rates relief to £25,000 Remove a quirk in the system that causes a firm operating across two premises to be charged rates even if its total valuation should see it qualify for relief Ensure that efforts, welcomed by the small business community, to conduct more frequent revaluations for business rates purposes are light-touch and transparent, and do not prevent valid appeals.
Following Government figures showing that the number of apprenticeships and traineeship starts in England fell again in 2020-21, FSB has called for urgent action to ensure firms can access skills. Mike Cherry, FSB National Chair, said: “Chronic skills shortages that existed before the pandemic hit have been exacerbated by lockdowns disrupting development, a new immigration system and a reduction in economic mobility for some workers. “Close to four in 10 small firms now cite skills shortages as a major barrier to growth. As we look to recovery, upskilling young people, who face an incredibly challenging climate, must be a priority for this Government. “Over the longer term, getting skills development right will require a holistic approach, empowering those in work to take control of professional development and reskilling, while also ensuring that education leavers have a plethora of attractive options – from work placements and qualifications, to apprenticeships, to clear information about career paths and in-demand sectors.” See Thérèse Coffey’s Opinion piece on page 10
Mr Cherry said: “Renewed efforts to ensure that rates bills are based on fair valuations are welcome and much needed – the more we can move to rolling up-to-date valuations, the more we can ensure this is a fair system fit for the digital age.”
6 | firstvoice | october 2021-january 2022
06-09 Heads up - news_First Voice Oct-Jan 2022_First Voice.indd 6
firstvoice.fsb.org.uk
23/09/2021 11:02
heads up need to know
3
CHARITY
Charity partnership formed after awards WO FSB MEMBERS WHO met at the 2019 FSB Celebrating Small Business Awards have teamed up to help protect vulnerable babies. Matt Dyson, co-founder of sleep aid manufacturer Rockit, met Seffie Wells, founder of baby clothing firm aidie London, when both were up for an award. Seffie later started The Aidie Trust, which Rockit has appointed as its charitable partner. “We have kept in touch since, and when she set up
T
the The Aidie Trust we were keen to get involved,” says Matt. “The charity provides interventions to some of the UK’s most vulnerable babies. Every time someone orders one of our sleep aids from rockitrocker.com we will donate 10 per cent of the profits to The Aidie Trust.” Working with women’s shelters, The Aidie Trust provides support to babies living in domestic abuse refuges. To find out more about the trust or make a donation, visit aidietrust.org
SURVEY
Survey finds need for relatable role models
4
NNOVATE UK AND FSB RESEARCH FINDS THAT 75 PER CENT OF entrepreneurs had dynamic role models – but 78 per cent of female business owners didn’t see female role models, and 54 per cent of people from ethnic minorities didn’t have role models of the same ethnicity. A third (29 per cent) of small business owners said not having a role model meant their journey had been slower (16 per cent) or that they were not as successful as they felt they could have been (13 per cent). However, 12 per cent said this motivated them more. Some 76 per cent of business owners say a role model helps entrepreneurs build successful businesses. This rises to 81 per cent for female leaders. Karen Jelenje from Tottenham, North London, winner of the 2021 Young Innovators Awards, says: “If you can’t see it, it’s hard to believe you can make it. Seeing successful business owners in the media that look like them can help young people believe.” Find out how Innovate UK could support you at ktn-uk.org/programme/young-innovators
I
firstvoice.fsb.org.uk
06-09 Heads up - news_First Voice Oct-Jan 2022_First Voice.indd 7
SUPPORT
Small firms need better access to support
5
The Government’s flagship levelling-up agenda will fall short of improving regional economies unless more is done to bolster business support for smaller firms, according to a new FSB report. Ahead of the Government’s Spending Review, the Open for Business report sheds light on how business support advice was used by small firms during the pandemic. Key findings include:
84%
of small firms received some sort of business support advice during the pandemic
45%
of small firms say the advice they received helped their business survive But most sole traders found that business support advice for them was not helpful
FSB National Vice Chair Martin McTague said: “If small firms are to compete on fair terms with larger businesses, if regions are to step out of the shadows and if all businesses can thrive after the pandemic, then an element of levelling up is critical. “Government needs to simplify and streamline how and where small firms can access critical business support advice, building on what currently works.” october 2021-january 2022 | firstvoice | 7
23/09/2021 11:07
heads up p need to know
ENVIRONMENT
PROCUREMENT
8
Hope for local firms in Scotland’s green push
New initiative targets net-zero action
CTION TO ENSURE LOCAL firms win more public contracts should be at the heart of the Scottish Government’s ambitions for a green recovery, according to FSB. Only five per cent of the Scottish public sector’s £14 billion procurement budget is spent with firms with fewer than 10 employees, despite these firms accounting for 94 per cent of businesses in Scotland, according to official figures. The value of procurement contracts won by smaller firms has been in decline in Scotland since 2016.
FSB has joined a new group of energy providers, tech firms, property developers, financial services companies and advocacy groups dedicated to spelling out what net zero really means for businesses. The Accelerating Net Zero Coalition has been convened by Tortoise – the ‘slow news’ group that prioritises in-depth analysis – ahead of the COP26 summit in Glasgow this autumn. This follows the launch of FSB’s Sustainability Hub (www.fsb.org.uk/sustainability), and its participation in the Broadway Initiative and backing of the UK SME Climate Hub. FSB National Chair Mike Cherry said: “Many small firms are keen to reduce their carbon emissions, but aren’t sure where to start. Others see apocalyptic scenes on the news, and the challenge facing us as so enormous that they feel overwhelmed. “We are pleased to join the Accelerating Net Zero Coalition to bring a new focus on achievable steps for small businesses. Our membership will help us analyse what decisions are needed at COP26 from our Government and others, so that the goal of achieving net-zero status can be reached.”
A
AWARDS
With ith reforms to procurement in the agreement pledged l between the Scottish Greens SNP, FSB wants and the SNP stretching local spending targets set for public bodies, and is calling on ministers to develop local supply chains for projects to reduce carbon emissions, such as schemes to improve the energy efficiency of buildings. Andrew McRae, FSB’s Scotland policy chair, said: “These reforms could make it easier for more locally-based firms win valuable green contracts, helping these businesses develop the skills required for a lower carbon economy. And by maximising the number of local suppliers, you boost the economic and community benefits of public spending.”
7
South Wales firm leads by example
Apprenticeship programme and training provider The Educ8 Group has been named the best mid-sized company to work for and best education company in the UK in the Best Companies to Work For list. The FSB member, based in Ystrad Mynach, South Wales, was set up in 2004 and now employs 200 people. Grant Santos, CEO (pictured, left, with chairman Colin Tucker), attributes the success to culture. “We recruit determined, creative and innovative individuals who can contribute to the company’s ongoing success and match our vision and values,” he says. 8 | firstvoice | october 2021-january 2022
06-09 Heads up - news_First Voice Oct-Jan 2022_First Voice.indd 8
“In return, we provide our employees with an exceptional working environment, a culture that is steeped in support for each other, ambition and fun. We aim to reward our employees for their hard work and provide them with opportunities to shine and progress in line with their career goals. “Involving staff at all levels in agreeing the values and ethos of a business is also vital, to foster buy-in and empower people to not only live and breathe the values but also challenge people at all levels where they believe those values are not being followed,” he adds.
See our cover feature on page 26 firstvoice.fsb.org.uk
23/09/2021 11:07
heads up in-depth
data centre
SMALL BUSINESS CONFIDENCE BY REGION Most confident
+20 CONFIDENCE
Least confident
Confidence waning but SMEs stay positive Small business confidence fell during the second quarter of this year but the first half of 2021 marked the first run of positive values for consecutive quarters since 2018. FSB’s Small Business Index fell by 8.7 points to reach 18.6, reflecting unease before the economy fully opened up in July. The report identified concerns that may become more of a feature, including rising input costs and staff
+21 +24
difficulties. Almost a quarter (23 per cent) have seen operating costs increase while 37 per cent say a lack of staff is holding them back. Exporters fared worse than they had expected to, with one in four (23 per cent) saying they have now stopped selling into the EU. In all, 54.4 per cent say they are aspiring to grow in the next 12 months – an increase of 1.7 per cent on the previous quarter.
+50 +23
+12
+34 -1
+29
SMALL BUSINESS CONFIDENCE BY SECTOR
+27
SMALL BUSINESS INDEX SNAPSHOT 50
Retail
0
+27.3 25
+20
Manufacturing Information and communication
+18.6
0
+22
-5 +27
Construction Arts, entertainment and recreation
-25
-32.6
+29
-50
Accommodation and food service activities
-49.3
+64 -75 0
10
20
30
40
50
60
70
Q2 2020
Q3 2020
Q4 2020
Q1 2021
Q2 2021
Q U I C K F I R E S TAT S
22%
55%
£17.5bn
The rise in businesses started in the year to March 2021 compared to the last one, a study by financial platform Tide finds
The proportion of UK staff who have welcomed a return to the office, according to IT service provider Totality Services
The total amount of money owed to UK businesses, according to Pay.UK and the Chartered Institute of Credit Management
firstvoice.fsb.org.uk
06-09 Heads up - news_First Voice Oct-Jan 2022_First Voice.indd 9
october 2021-january 2022 | firstvoice | 9
23/09/2021 11:08
heads up skills
THÉRÈSE COFFEY
Just the job W Workplace skills and experience are pivotal to y young people’s career prospects. Small b businesses are providing high-quality jobs tthrough the Government’s Kickstart scheme
OR YOUNG PEOPLE TRYING to get a foot on the career ladder, there has long been a conundrum: how do you get a job without experience? And how do you get experience without a job? In the past, there were many ways to overcome that barrier. Small businesses, in particular, have always played a huge role in getting people into work for the first time, or back into work if they have been unemployed. When the pandemic struck, many of those doors were quite literally shut. Many young people had the rug pulled from under them just as they were searching for their first job opportunity. There was a danger that a generation would be lost. It was against this backdrop that we devised and launched our Kickstart scheme by creating thousands of fully-funded, quality jobs for 16-24year-olds. Getting that first exposure to operating in a workplace is a crucial moment in life, providing the chance to not only gain skills and experience, but also take on responsibilities. Small businesses are excellent at nurturing talent. They are geographically well spread – providing jobs and growth in villages and towns, as well as big cities, right across the country – and
F
10 | firstvoice | october 2021-january 2022
10-11 Heads-up - Opinion_First Voice Oct-Jan 2022_First Voice.indd 10
disp d disproportionately is employ many of those for whom the jobs market is harder to navigate than it should be, such as disabled people. We knew Kickstart would only b successful if small businesses be wer an integral part of the scheme. were Following the 2008 recession, we know that nine out of 10 of those who moved from being out of work into employment did so with a small business, so I am grateful to the many thousands of small business owners who have been willing to provide Kickstart jobs. I am also grateful for FSB’s role in this – collaborating with us to ensure Kickstart is small business-friendly, but
Small businesses have always played a huge role in getting people into work for the first time also going further than that and actually setting up its own Kickstart Gateway. FSB’s route was particularly targeted at smaller firms and the self-employed who wanted external support to enable them to offer high quality jobs. This did not just involve on-the-job experience, but also additional wrap-around support from experts in mentoring, CV-writing
and training, as well as administrative aspects such as payroll. Small businesses are providing a fantastic range of opportunities through Kickstart, highlighting the diversity of roles and locations that are available in the small business community. To those businesses yet to get involved, I encourage you to join our national effort and submit your applications to DWP as soon as possible. You will get funding to cover wages, a grant to help with set-up costs and employability training, and, most importantly, you will be giving a young person the chance to prove themselves, gain valuable experience and build a better future. The very first FSB Gateway job went to Joshua, a political science graduate, who was placed with an international social enterprise based in Carmarthen. Joshua is just one of more than 50,000 young people who have benefited from a Kickstart job so far, and jobs continue to come on stream every day. They are not just benefiting from a job, but also gaining the confidence and connections to forge longer-term, quality careers. For those placed in smaller businesses, it may also inspire them to become entrepreneurs themselves and kickstart their own business, supporting the UK economy and, in time, creating opportunities for future generations. THÉRÈSE COFFEY MP is Secretary of State for Work and Pensions. Views expressed are those of the author and not necessarily those of FSB. firstvoice.fsb.org.uk
23/09/2021 11:09
heads up sustainability
OW DO YOU CLEAN A SPACE shuttle’s parachutes? The answer, without blinding you with science, doesn’t involve a packet of washing powder from the corner shop. Instead, NASA came up with some special technology which, it turns out, is now being used for commercial laundry here in the UK. I mention this not just as an example of the ingenuity in taking something created for one purpose and adapting it for another, but because this particular technology provides a much greener way to wash large volumes of hotel bedlinen and towels or restaurant tablecloths. It means far less water, ater, electricity and harsh chemicalss are used in the cleaning process, which, in turn, saves money. It has been pioneered in the UK by Laundry Efficiency, a small business siness in the West Midlands that won the Environmental Award at FSB’s Celebrating Small Business Awards ards UK Final earlier this year. It strikes me as a brilliant example of how greener er ways of working are not just good for the he planet, but can also be good for business. ess. In the run-up to the COP26 international environment summit mmit in Glasgow, we’re hearing a lot in the media about ‘the race to net zero’, but how does that abstract phrase translate practically ractically into a small business? Some have already embarked d upon greener ways of working, but for or many small business owners who would ould like to play their part, it can seem a bit overwhelming in the face of thee time pressures and financial costs involved nvolved in running a business. That’s why I think it’s time we looked at this from another perspective rspective – the business case for being more environmentally friendly, and the risks involved in not doing so. All of us have seen the visible impacts of climate change in the news – from flash floods to wildfires. There is a growing demand for products and services that have less of an impact on the environment.
Illustrations: Sam Kerr
H
firstvoice.fsb.org.uk
10-11 Heads-up - Opinion_First Voice Oct-Jan 2022_First Voice.indd 11
For consumer-facing businesses, there is, at the very least, a brand reputation benefit in being able to demonstrate good environmental credentials. It can also open access to things like the Good Business Charter. But there is also a fast-accelerating B2B need to do this, too. Big corporates are required by law to report on their annual energy use and greenhouse gas emissions – and they can only really bring these figures down if those in their supply chains are playing their part. Increasingly we will see bigger businesses shunning smaller firms in their supply chains that are not reducing reduci their carbon footprint, in in favour favo of those that are.
M A R T I N M cTAG U E
Increasingly we will see bigger businesses shunning smaller firms in their supply chains that are not reducing their carbon footprint When it comes to the financial costs involved in making changes, it can m work both w ways. On a basic level, reducing energy use will save money. en However, I accept that other changes involve upfront costs. That’s why there upfr is a strong case ca for the Government to provide support supp to help small businesses on o their environmental journey – for fo example a scrappage scheme to h help replace diesel or petrol commercial vehicles with electric ones. Politicians must also get rid of tax disincentives disincentive – it’s ridiculous that installing solar so panels in your premises will get you clobbered with a bigger business rates bill, for example. With greater support and motivation in place, I believe small motivat businesses busines can play a big part in improving improvi the environment. That’s not just essential for saving the e planet, bu but also for sustaining and growing our ou own businesses. MARTIN Mc McTAGUE is National Vice Chair, Advocacy, FSB. All information is Policy & Adv accurate as of 23 September 2021.
Time to act Small firms are going to come under huge pressure to ‘go green’ in the years ahead. But there are genuine business opportunities to be had, too october 2021-january 2022 | firstvoice | 11
23/09/2021 11:09
heads up IR35
DAVE CHAPLIN
Are you in or out? The introduction of off-payroll legislation for th private sector earlier this year has caused the h headaches for contractors. Working with cl clients to reach the right determination is vital (Chap (C (Chapter Ch 8 of ITEPA 2003), applicable where the client meets the small wh company’s exemption or is wholly com comp overseas, and the updated off-payroll o overse ve (Chapter 10) that took effect in llegislation legislatio egissla a April. A pril. The tax treatment differs, and you’ll why. need n eed to t understand u FF-PAYROLL LEGISLATION ((IR35) IR35) took effect on 6 April, making medium and large private firms responsible for determining a contractor’s IR35 status, and taxing earnings as employment income if applicable. Many confused hirers have simply blanketbanned limited company contractors. Earlier this year, contractor Robert Lee lost his appeal against HMRC at Upper Tribunal as judges were forced to rely on the limited evidence provided at First-tier Tribunal, which had led to the conclusion that IR35 applied to work he had carried out. This underlined the importance of reinforcing status assessments with strong evidence, gathered before and during the engagement. If the client and contractor work to create an evidencebased position, it’s difficult for HMRC to claim otherwise.
O
‘Outside IR35’ contracts ‘Outside IR35’ contracts exist, and the key is for both parties to work collaboratively to sustain IR35 status and ensure working practices affirm this. Personal service, mutuality of obligation, and control are the factors used to determine status. There are now two versions of IR35 – the original Intermediaries Legislation 12 | firstvoice | october 2021-january 2022
12-13 Heads -up - Opinions_First Voice Oct-Jan 2022_First Voice.indd 12
Statu Determination Statements Status If a position is ‘inside IR35’, obtain a copy of a Status Determination Statement and the contract on which it is based. Evaluate it for any flaws in the assessment. To dispute an assessment, you must make representations to the client, who is obliged to consider them and change the
Once some firms test the water, others will follow
your rate by to be net income-neutral. Bear in mind that hirers will also want to pass their new tax bill onto you by way of a rate reduction. If ‘inside IR35’ status arises because a client refuses to do an assessment, try renegotiating your rate to counter your tax hit. The challenge some face is withdrawal of tax relief on expenses. A contractor ‘inside IR35’ who lives in accommodation during the week may need to up their rate by 40 per cent to maintain take-home pay – making the hire untenable.
Beware of umbrellas Tread with caution when considering umbrella companies. It is an unregulated market and you are responsible for any non-payment of tax, not the scheme provider. Be wary of the indicators of non-compliant schemes, such as dubious payment terms or a lack of transparency over payment illustrations. It’s safest to be on the client or agency payroll.
status or provide reasons for not doing so. This means the client is judge and jury, so will dismiss frivolous representations. You’ll need to provide representations just as an expert might prepare the pleadings for a case, highlighting factual errors and misapplications of the law. You may decide to get help with this.
Contractors provide vital skills
Calculate rate renegotiations
DAVE CHAPLIN is CEO and founder of IR35 Shield and author of IR35 & Off-Payroll Explained. Views expressed are those of the author and not necessarily those of FSB.
Working ‘inside IR35’ will impose an employment tax liability on the end-client and/or agency, and a tax hike, so you must know how much to increase
It is vital to play an active role in the compliance process, understand the rules and work with clients to ensure contracts align with the working relationship. In time, the dust will settle. Once some firms test the water by engaging limited company contractors, others will follow.
firstvoice.fsb.org.uk
23/09/2021 11:09
heads up adapting to change
HIS YEAR MARKS THE THIRD birthday of IoT Solutions Group, the company I co-founded with Neal Forse. We use remote sensor technology to collect data, provide insights and improve decision-making for clients. The idea for IoT Solutions Group came when Neal and I had a conversation while driving from a global network conference. Both of us had experience delivering client projects and were excited by the potential of the Internet of Things (IoT) – a digitally connected universe of everyday physical devices and people. Despite the opportunities and solutions IoT provides, its adoption across business and society has yet to reach its potential. otential. We went from pondering whatt could be done about this problem to the realisation ealisation that we could help drive awareness ess of the IoT as a business solution across multiple sectors. There’s a lesson here: by opening up to a like-minded colleague in the spirit of collaboration and problem-solving, lving, I was able to find the inspiration to begin a successful business. Having decided cided to take action, we began planning. We identified gaps in the general awareness areness of IoT and a lack of deployment infrastructure, then found ways to fi ll fill them. This kind of planning is essential sential to any business undertaking. Creating eating a viable business model involves forensically detailed analysis and d research, complete with roadmaps, ps, timelines and a strong understanding nding of the market and its appetites.
T
the adult social care sector – we learned that it’s possible to turn challenging circumstances into fresh opportunities.
Key takeaways During the past three years, not a day has gone by without me learning something new, and many of these lessons will apply to an array of companies and organisations – adapting to pandemic life has been a universal experience. Some key things we have learned are: Agility with principle. It is vital to remain adaptable. Rather than sticking doggedly to pre-determined plans, it is crucial to re-prioritise, establish alternative a ltern solutions and ensure that cchange hang happens in the appropriate places.
Illustrations: Sam Kerr
firstvoice.fsb.org.uk
12-13 Heads -up - Opinions_First Voice Oct-Jan 2022_First Voice.indd 13
Listening is everything. Changing priorities is only effective if you understand what matters most. In unders client-facing businesses, this can only client-f be don done by listening to clients and responding to their needs. Great customer respon relationships and client input are vital for relation companies providing solutions. compa Tech for good. Working in the tech industry, industr it’s key to maintain an ethical dimension and ensure the benefits of dimens technology are clearly communicated techno and dem demystified. By encouraging councils, businesses and individuals to remove busines barriers barrier that prevent technological progress, progres society will be all the better. ese lessons have seen us through an Thes amazing amazin three years. There is no question that many ma in the technology sector will find tha that these values of adaptability, listening listenin and ethics resonate with others’ experiences from the pandemic. experie EMMA MAHY is CEO and co-founder of Solutions Group. Views expressed are IoT Solu of the author and not necessarily those o of FSB. those o
Dealing with curveballs If the business was born from planning, anning, we survived the pandemic by knowing owing when to put those plans to one side. ide. Everybody has been affected by Covid-19 Covid-19, and we were no exception. With priorities changing, budgets reallocated and diverted and some projects postponed, we had to reconcile the loss of potential business. At the same time, we swiftly learned to recognise new opportunities. By applying our agile business principles to socially responsible fields – for example, developing technology for
If the business was born from planning, we survived the pandemic by knowing when to put those plans to one side
EMMA MAHY
Flexible thinking Planning is a vital part of creating a successful small business. But it’s also important to be adaptable enough to know when it’s time to change tack october 2021-january 2022 | firstvoice | 13
23/09/2021 11:10
feature covid-19 support
There’s no question that the various measures put in place by the UK Government and devolved nations have helped many small firms survive the Covid-19 pandemic. But while some support remains available, other initiatives are starting to wind down. Alex Wright outlines the state of play
SAFETY NET 14 | firstvoice | october 2021-january 2022
14-17 Government support_First Voice Oct-Jan 2022_First Voice.indd 14
firstvoice.fsb.org.uk
23/09/2021 11:11
feature covid-19 support
Illustration: IKON images
G
OVERNMENT FINANCIAL support has been a lifeline for small businesses during the Covid-19 crisis. During the past 18 months, millions of UK businesses have accessed grants, loans and job or tax support schemes, and the Government has so far paid out hundreds of billions of pounds in support to help keep firms afloat during these challenging times. Among the key packages it has provided for SMEs are the Coronavirus Job Retention Scheme (CJRS), the SelfEmployment Income Support Scheme (SEISS), the Coronavirus Business Interruption Loan Scheme (CBILS), the Bounce Back Loan Scheme (BBLS) and the Recovery Loan Scheme (RLS).
It also set up the Small Business Grants Fund and the Retail, Hospitality and Leisure Business Grants Fund, and has offered business rates relief and VAT payment deferrals. Extra funding has also been handed to the devolved administrations of Scotland, Wales and Northern Ireland (see box), as well as local authorities, although gaps have remained – particularly for some recently self-employed and limited company directors. According to FSB’s Business Support report, 84 per cent of participants accessed support advice. Fifty per cent of those surveyed received free Government support, with north-east England reporting the highest percentage (61 per cent). Forty-five per cent said that the advice they received helped their business survive the pandemic, while 33 per cent claimed it didn’t. The following will help as a guide to the main schemes still available, what their benefits are, and what businesses need to be aware of when repaying them – as well as when they start to wind down and repayments need to be made.
Loans The BBLS was one of the Government’s most significant support packages. As of April, £46.5 billion had been paid out and 1.5 million loans approved. However, the scheme, which enabled SMEs to borrow between £2,000 and up to 25 per cent of their turnover, and was capped at
Businesses need to bear in mind that the RLS is nowhere near as attractive as the CBILS or the BBLS
Countryby-country measures SCOTLAND The Scottish Government launched the Strategic Framework Business Fund in November 2020 to provide payments to businesses based on their sector, rateable value and level of restriction they were under. Since then, local authorities have been given discretionary funds, aimed at helping firms that didn’t qualify for grants from the fund, to distribute as they see fit.
WALES The Welsh Government has announced another round of the Economic Resilience Fund to support businesses that incurred costs due to the pandemic in July and August. To be eligible, their turnover must have been reduced by 60 per cent or more year-on-year as a result of Covid-19 restrictions, with funding ranging from £2,500 to £25,000 depending on the industry.
NORTHERN IRELAND The Northern Ireland Executive has extended its 100 per cent business rates relief until the end of the 2021/22 financial year for retail, hospitality, leisure, tourism, manufacturing and childcare businesses. Top-up grants have also been made available to firms that missed out on funding from the Small Business Support Grant and the Retail, Tourism, Hospitality and Leisure Grant, worth £10,000 and £25,000 respectively. october 2021-january 2022 | firstvoice | 15
14-17 Government support_First Voice Oct-Jan 2022_First Voice.indd 15
23/09/2021 11:11
feature covid-19 support
£50,000, closed at the end of March. With no interest to pay for the first year, after which the rate increases to 2.5 per cent, the loan term is six years with the option to extend to 10 years. Early repayment can be made without incurring a fee. “The BBLS has really helped small businesses, particularly those that had just started up or were servicing existing debt,” said Richard Osborne, founder of UK Business Forums. “Provided they are using it wisely and for legitimate purposes, then that’s fine.” The RLS has, in effect, taken over from the BBLS. Launched in April, it provides financial support to help businesses recover and grow. The scheme has been extended until the end of this year for firms affected by the pandemic. It is open to all companies that qualify, including those that have already used the BBLS and CBILS, and offers £1,000-£10 million in
45%
The proportion of firms that received help which say it helped them survive the pandemic
16 | firstvoice | october 2021-january 2022
14-17 Government support_First Voice Oct-Jan 2022_First Voice.indd 16
the form of a term loan, overdraft, invoice finance or asset finance. Businesses are required to pay interest and any associated fees, with the annual effective interest rate, upfront. Other fees are capped at 14.99 per cent. The length for term loans and asset finance is three months to
six years; for overdrafts and invoice finance, it’s three months to three years. Lenders won’t accept personal guarantees as security for loans under £250,000. Members can apply to the scheme through the FSB Funding Platform. However, Carl Reader, chairman of business advisory firm d&t, warns: “Businesses need to bear in mind that the RLS is nowhere near as attractive as the CBILS or the BBLS. Unlike the Enterprise Finance Guarantee that came before, it isn’t available to new start-ups, or at the 2.5 per cent rate that the BBLS was.”
Tax support In addition to loans, businesses in England can apply for restart grants of up to £18,000 until March 2022. Nonessential retail firms are eligible for oneoff grants of up to £6,000, while those in the hospitality, accommodation, firstvoice.fsb.org.uk
23/09/2021 11:12
feature covid-19 support
The UK-wide VAT payment deferral was another big boost for struggling firms. Again, it was automatically offered to businesses between 20 March and 30 June 2020, with 599,500 payments – worth £33.5 billion – being deferred during this period. Companies were required to pay the deferral in full by the end of March or arrange payment in monthly, interest-free instalments. In England, eviction protection for commercial tenants for unpaid rent has been extended to 25 March 2022. However, it is still advisable for businesses to communicate with their landlord and try to agree a future payment plan where possible. FSB continues to lobby the Government to extend its support for small businesses. Among its key asks are greater promotion of the UK-wide Pay As You Grow scheme, giving businesses that took out state-backed loans longer repayment periods or payment holidays.
Repayment quandaries
leisure, personal care and gym sectors can get the full amount. Many high street businesses have also benefited from business rates relief, which is automatically applied by local councils and was an issue that FSB has lobbied hard for. From the start of July, the rate in England was reduced to 66 per cent until the end of March 2022. FSB National Vice Chair (Policy & Advocacy) Martin McTague says: “To help hard-hit sectors and high streets as we look to recover, we’re calling for an overhaul of the whole business rates system, with more firms taken out of paying business rates altogether, and more frequent and fair valuations. In a pre-pandemic survey, over half of our members said that they would not survive if it weren’t for business rates reliefs, underlining the precarity of many firms’ financial situations even before Covid-19 hit.” firstvoice.fsb.org.uk
14-17 Government support_First Voice Oct-Jan 2022_First Voice.indd 17
There is a significant dilemma surrounding repayments. “The big question right now is whether you keep your loan or pay it back,” said Serena Humphrey, Managing Director off Th Thee F Word. “Given that it’s cheap finance, and the interest is relatively low, it might be an idea to hold onto it and extend the terms. On the other hand, you might just want to pay off your our debt so you don’t have any future obligations gations moving forward. It depends entirely rely on your individual circumstances.” Paul Samrah, Partner at Moore Kingston Smith, advises those who might bee struggling to take early action. “If you are unable to make these tax payments, ments, contact the HMRC’s Time to Pay service,” ervice,” he says. “They will listen to your case ase and may ask you for more financial al information before agreeing on thee best solution. If you don’t, you could be liable for penalties and legal action.”
Best foot forward The Bounce Back Loan (BBL) helped to ensure the survival of Lucy Jeffrey’s fledgling business. Having started her online business, Bare Kind, which sells bamboo socks, in 2018 while she was still working in a bank, she initially decided to shut it down when the pandemic struck last year. But after taking out a £3,000 BBL in August 2020, she revived the firm and ploughed it straight into social media marketing. “Initially it was just a side project – I never imagined one day it would be my main business,” she says. “It was a bit of a Hail Mary moment – I quit my job in November and threw everything into the business. “Having the Government loan gave me the confidence boost I needed. I hired a freelancer to do some Facebook ads for me and it paid instant dividends – I made 10 times the return on my investment.”
ALEX WRIGHT is a freelance business journalist october oc o oct ctto ob obe ber 2 be 2021-january 02 021 0 021-ja 21--ja 21 -jjja an nua nu ua u ary ry 2 20 202 2022 02 02 22 2 | ffi firstvoice i rst r sstt vo rs voi v oii cce o e | 17 17
23/09/2021 11:12
feature female entrepreneurs
Leading the way Up and down the country, female entrepreneurs have had to adapt in the face of the challenges posed by Covid-19. Jo Faragher speaks to four inspirational FSB members who have been able to thrive during a traumatic period
T
HE PANDEMIC’S DISPROPORTIONATE impact on women has been well documented. Women were the majority in industries with the highest job losses, such as retail and hospitality; more women than men have been furloughed in the UK; and women’s family or caring commitments had an impact on their ability to work, with 48 per cent worried about negative treatment from their employer due to childcare responsibilities, according to a TUC survey. A February 2021 report from the House of Commons Women and Equalities Committee concluded that “existing gendered inequalities in the economy have been ignored and sometimes exacerbated by the pandemic policy response”. Female small business leaders themselves faced a host of challenges from the onset of the pandemic, from tough decisions about furlough or flexible working to juggling their own personal commitments with concerns about staff wellbeing and productivity. “Females often carry a lot of household stuff, on top of having to cope with the pandemic and the uncertainty of income,” explains Stella Smith, founder of wellbeing and benefits platform pirkx, which secured £1 million in seed funding in 2020 in spite
of Covid-19 challenges. Her product supports selfemployed and gig-economy workers, many of whom are women. “I’m a mum as well as a co-founder and my daughter was just two when the pandemic started, but I tried to take the positives as it meant I had more time with her as I was at home,” she says. But women are arguably uniquely positioned to help the economy out of the crisis. “Women have a positive role: their empathy, emotional intelligence, willingness not to judge and to accept where things are at and move forward positively are all assets,” adds Ms Smith. “They have made an enormous effort to be present on the map of success when it comes to entrepreneurship in the last century. The impact is significant.” First Voice talked to four women small business owners about their experience of the pandemic and where they see their role as we emerge from it.
18 | firstvoice | october 2021-january 2022
18-20 Female Entrepreneurs_First Voice Oct-Jan 2022_First Voice.indd 18
23/09/2021 11:13
feature female entrepreneurs
A N I M AT E D T E C H N O LO G I E S
Recreating in-person networking As the events industry ground to a halt in 2020, visual communications company Animated Technologies identified a business opportunity. “We wanted to create a better networking system that was reflective of those chats over coffee you might get at a face-to-face event,” explains Director Anna Burke (pictured, left). The Anglesey-based company applied for an Innovate UK grant from the Government and was awarded £430,000 to build a virtual events platform in conjunction with another technology partner, Bangor
University and Menai Science Park. The company’s core business is producing animations for engineering and technical clients to showcase products. Customers are looking for sophisticated and interactive ways to visualise what they do, with augmented and virtual reality often part of the brief. Ms Burke set up the company with her husband, and having young children means the couple has often had to ‘tag team’ work and childcare over the past 18 months. “We’re lucky because we run the company,” she says. “It means we can be flexible with our staff, so if you want
‘You’re trying to be a leader, a mum, a cook’
to go away for the weekend and work from a different location on Monday, that’s fine.” She believes female-led businesses can make a difference as the economy starts growing. “There’s a real need for better communication of products – the technical and engineering industries don’t always present the best images. We can make it more creative and engaging,” she says. That doesn’t mean it’s easy: “It can be difficult to find your place and where you sit. You’re trying to be a leader, a mum, a cook – it can be overwhelming.”
PIPSTER SOLUTIONS
From going solo to a team Pippa Birch always swore that she would remain a sole trader and never take on staff. Over the course of the pandemic, however, her bid-writing skills were in high demand as clients in her key sectors of highways and civil engineering pitched for post-Covid-19 business. “I was working seven-day weeks and it was starting to affect my health,” she says. She took the decision to take on one more employee, but now has a team of six. Her team comprises women at different stages of life. “We have core hours but otherwise we work flexibly and we’ve settled into our own rhythm,” she adds. “One works 7am to 3pm as she has young children; another takes time out to walk her dog; another starts and finishes later.” Ms Birch has appointed a bid coordinator so she can ensure clients get the best service. The Government’s ‘Build Back Better’ agenda means public procurement will boom over the coming months, so having a broad
range of operational and bid-writing expertise means the company can respond to demand. While she never intended to have an all-woman team, she is determined to ensure her business is a family-friendly employer. “I always knew that if I did get staff I would not make them feel guilty for taking an emergency afternoon off and making the time up elsewhere. We all know that the business needs to meet its goals, that we need to gel as a team, but also look after ourselves as individuals,” she adds. Remote working means Pipster Solutions can recruit the best people regardless of location. The team has one in-person meeting per month, along with twice-weekly video catch-ups and regular one-to-ones. “It’s been lovely to have a team to talk to as I’ve been on my own for so long,” Ms Birch concludes.
‘I always knew that if I did get staff I would not make them feel guilty’
october 2021-january 2022 | firstvoice | 19
18-20 Female Entrepreneurs_First Voice Oct-Jan 2022_First Voice.indd 19
23/09/2021 14:39
feature female entrepreneurs
‘I was working silly hours but also had days when I couldn’t face going near a computer’
COMMWIRE
Keeping people connected The pandemic has pushed our connectivity expectations sky-high. With more people working from home, video calls are part of the routine and many organisations have transferred phone systems to work remotely. East Kilbride-based Commwire provides the cabling backbone that helps these systems work. “Cloud telephony is vital for remote working so workers have a seamless transition – the app they see on their phone is the same as if they were at their desk,” explains Director Lynnette Thomson. Commwire’s clients range from a care home that realised video-calling would be important, to cabling for retail till systems and student accommodation. Ms Thomson juggled home-schooling with her business responsibilities. Her focus is business development and networking, which lockdowns prevented. “I felt this quite personally,” she says. “The customer wins that make you feel good about yourself weren’t there, so while we were checking in on our own staff to ensure their mental health was okay, no one was checking in on us.” There were periods when restrictions meant some staff were furloughed, but with support from FSB, Commwire accessed Government grants and a Bounce Back Loan. Grants also enabled the business to take on two apprentices, and it will soon take on a third through the Government Kickstart scheme. “Connectivity is people’s lifeline,” she says. “We have growth plans but want them to be sustainable.”
‘While we were checking in on our own staff, no one was checking in on us’
20 | firstvoice | october 2021-january 2022
18-20 Female Entrepreneurs_First Voice Oct-Jan 2022_First Voice.indd 20
KEEP IT SIMPLE TRAINING
Meeting growth in demand The past 18 months have been busy and challenging for Grace Graham, founder of Keep It Simple Training. The Black Lives Matter movement meant that organisations were demanding her anti-racism training more than ever, but she was also dealing with personal challenges. Her son was in the middle of his GCSEs, so she needed to support him, and she lost three family members during the pandemic. “I was working silly hours but also had days when I couldn’t face going near a computer. The
fact we couldn’t go out at the beginning made things hard, but I accessed FSB Care, which was a great help,” she explains. Before the pandemic, most training was delivered in person; transforming this into a mix of Zoom sessions and online learning was tough. However, running her own business meant she could blend her family’s needs with her mix of consultancy and teaching. “It’s a good thing as a business owner that I’ve been able to be flexible,” she adds. The past year has seen a surge in clients wanting support to create and implement anti-racism policies, and she is considering building up a team of associates to deliver on this demand. “Lots of organisations have policies in place but don’t know how to implement them, or whether they will change anything,” she says. “It’s good that people are talking more about racism because we’re all impacted by it.”
JO FARAGHER is a freelance business journalist
Watch FSB’s social media lead Zoe Cairns and diversity and inclusion lead for Greater London Grace Graham share the secrets of their success in our video at youtu.be/VuJUQuR2WQI. And if you entered the Dell Women’s Entrepreneur NetworkDream Tech Contest to win up to £25,000 of new tech, keep an eye on the First Voice Twitter feed, where we will announce the three lucky winners in December.
firstvoice.fsb.org.uk
23/09/2021 11:14
MOBIMEND IS A SYSTEM FOR REPAIRING MOBILES AND TABLETS. The company is now extending the MOBIMEND franchise to individuals as a proven business model which has been operating for five years. MOBIMEND.CO.UK/JOINOURTEAM MOBIMEND.CO.UK
CHLOE@MOBIMEND.CO.UK
MOBIMEND is a registered trademark and is an affiliate company of Licensing Management International www.lmiuk.com
FV.Oct21.021.indd 2
21/09/2021 10:40
advertorial yay.com
Getting the word out Marketing your business online with .UK and VoIP Presenting the issue With 89% of UK businesses trading again as of August 2021, up from 71% of businesses in January of this year [1], and just 3.7% of the workforce on furlough versus 19.9% in late January [1], there’s now more capital flowing through the palms of the public, ready to be paid back into quality services like yours. However, as 2022 approaches, small businesses need a strategy for getting the word out about the great work they do. Making sure your business can be found easily, and by as large an audience as possible, will be crucial for success while consumers stick with brands they know. In practice, this means ensuring your business’s reputation is strong, you’re fostering trust in your brand and you’re making it as easy as possible for customers to find you. With advertising becoming more digital (the UK online advertising market generated £15.7 billion in 2019 [2]), you must bolster your online presence or establish one from scratch – and this starts with your website.
Establishing a presence online Perhaps the most important part of your online presence is your domain name (think the ‘Google’ or ‘Amazon’ part of any web address, coming before the ‘.com’ or ‘.co.uk’). Well-chosen domain names are usually semantically related to the most popular searches online in your industry, meaning better positions in the results, more eyeballs on your website and more paying customers. The best 22 | firstvoice | october 2021-january 2022
22-23 Yay Advertorial_First Voice Oct-Jan 2022_First Voice.indd 22
will also be memorable and easy to spell. Of course, the most sensible domain name is usually your business or brand name itself, leaving little left for you to optimise. What you might not know is how much the other components of your web address can affect traffic to your website and its perceived trustworthiness. The TLD, or Top Level Domain (this would be the ‘.co.uk’ part), is the most important thing after the domain name itself. In addition to the typical .UK and .com TLDs, all kinds exist at various price points, including .io and .app.
So which TLD should you choose? The data seems to suggest that, for small businesses in the UK at least, the .UK TLD family is your best choice. Firstly, data from Nominet tells us that 70% of people prefer to click on a .UK-ending domain, 91% of people associate the .co.uk domain with safety and 89% associate .co.uk with security [3]. With today’s concerns over data privacy and an ever greater amount of crime occurring online, it’s crucial that businesses invest in boosting the reputation of their online business, and the data suggests that using a domain ending in .UK will help towards this end. Secondly, it seems that UK consumers find UK domain names more memorable. When asked to think of domain names, 47% of people spontaneously name any .UK domain [1]. A memorable website domain will improve the chances of your business
being remembered and chosen again. Fundamentally, though, the best TLD is one that helps to convey your business’s core values. As a small business, your local customer base will be important to you. Conveying a sense of homegrown neighbourliness will help any small business’s marketing strategy, helping to foster crucial rapport with local customers. If for no other reason than this, small businesses in the UK should prioritise securing a .UK domain for their website.
How to buy a .UK domain name Domain names are purchased online in a hassle-free process from what’s known as a domain name registrar. For security and authenticity reasons, it’s crucial that you choose a registrar that is directly accredited by the domain registry that controls the TLD you’re looking to use. For a .UK domain, you’ll want to look for a registrar accredited by both ICANN, the internet’s not-for-profit governing body, and Nominet, the domain name registry that controls .UK domains. Yay.com is one such registrar, directly accredited by both ICANN and Nominet, selling domain names ending in .UK and almost every other TLD you could think of. This makes us the perfect, trusted source from which to buy your new .UK domain names. Yay.com is offering all .UK domains registered before 30 November at just £1.50 for the first year* – get yours today at yay.com/fsb. firstvoice.fsb.org.uk
23/09/2021 11:14
Connecting with customers
from home or on the road, you need a way for these callers to present the business phone number when they make calls, no matter the device they are using or their location. This issue is solved instantly with a caller ID selection feature, one available with all good VoIP systems, that allows you to present as any phone number you own when you make a call. Speaking of phone numbers, to complement your new domain name ending in .UK, small businesses will do best with an area-code phone number, clearly communicating to customers where they can be found. Handily, the best VoIP providers will have a library of geographic phone numbers to further cement yours as the business of choice in your local area.
If you make it difficult for your customers to contact you or make a purchase, you’ll be missing out on easy business. That’s why it’s vital you make it easy for your website visitors to make contact. With a VoIP service, you’ll have tools at your disposal that allow you to do just that: tools that make things like click-to-call contact forms and in-browser voice calls possible, making it easier than ever for customers to connect with you to ask about and pay for your services. Without a VoIP service, it is difficult to give your customers a congruent brand experience. If you have staff working
“It’s vital you make it easy for your website visitors to purchase or make contact.”
Making business easy If you’re using an old analogue business telephone service or your personal mobile phone to conduct business, you’ll miss out on all of these easy but powerful ways to boost business. If you need a VoIP phone service that can offer you all of the above at an affordable price, Yay.com is here to help. Our phone system allows you to make and take business calls from wherever you are and with any device you own.
SIGN UP AT yay.com/fsb, or call 0330 122 6000.
£3.49/USER/ MONTH* with a free business phone number included
Build a branded caller experience that puts your customers first for as little as £3.49/user/month*,
with a FREE business phone number included. Experience HD call quality and the power of our VoIP platform free today by signing up at yay.com/fsb, or call 0330 122 6000. *Prices exclude VAT.
REFERENCES [1] “Business insights and impact on the UK economy”, Office for National Statistics, last modified 12 August 2021, www.ons.gov.uk/businessindustryandtrade/business/businessservices/bulletins/ businessinsightsandimpactontheukeconomy/12august2021 [2] Ofcom, Online Nation 2020 Report, 52, www.ofcom.org.uk/__data/assets/pdf_file/0027/196407/online-nation-2020-report.pdf [3] Trust & Awareness Research 2021, conducted by Yonder on behalf of Nominet
firstvoice.fsb.org.uk
22-23 Yay Advertorial_First Voice Oct-Jan 2022_First Voice.indd 23
october 2021-january 2022 | firstvoice | 23
23/09/2021 11:14
big picture climate change
24 | firstvoice | october 2021-january 2022
24-25 Features - Big Pic_First Voice Oct-Jan 2022_First Voice.indd 24
firstvoice.fsb.org.uk
23/09/2021 11:15
BIG PICTURE
Photography: Reuters
Flooding hell
firstvoice.fsb.org.uk
24-25 Features - Big Pic_First Voice Oct-Jan 2022_First Voice.indd 25
Businesses in Northwich town centre are left facing a clear-up operation after the town was hit by severe flooding in January 2021, when the River Weaver burst its banks following Storm Christoph. It was the second time in two years that the area had been hit. Events such as this are now more common across the UK as more extreme weather becomes the norm. Most scientists attribute this to climate change as a result of global warming. The upcoming COP26 summit in Glasgow aims to accelerate action to tackle this.
october 2021-january 2022 | firstvoice | 25
23/09/2021 11:15
feature sustainability su
MAKING A
DIFFERENCE As the world turns its attention to next month’s COP26 summit in Glasgow, small firms too need to do more to play their part in helping meet the UK’s strict carbon emissions targets. Penelope Rance outlines how even the smallest outfit can make a difference
26 | firstvoice firstvoi v ce | october 2021-january 2022
26-29 Features - sustainability_First Voice Oct-Jan 2022_First Voice.indd 26
firstvoice.fsb.org.uk
24/09/2021 09:08
feature sustainability
I
N JULY, FATAL FLOODS IN Europe offered a reminder that we must all work to mitigate the climate crisis – and adapt to weather it. November’s COP26 summit in Glasgow will see countries reporting on their progress, with decisions made at the highest levels affecting even the smallest businesses. “Every little helps: if everybody does the right thing, we end up with meaningful change,” says Martin Baxter, Director of Policy and External Affairs at the Institute of Environmental Management and Assessment. “It’s important that small businesses don’t get frozen out of the green industrial revolution. We need entrepreneurial SMEs to bring new technologies and develop sustainable business models to help create the solution.” Small businesses tend to support netzero objectives, with a recent FSB survey showing 36 per cent of members wanting to do more to achieve sustainability. But many do not appreciate the scope of the changes required, with only 22 per cent believing they will have to adapt to meet government emissions targets. “If we are to reach the UK Government’s 2050 Net Zero goal, we need to start making changes now,” points out Friederike Andres, FSB’s Policy Advisor for Energy, Environment and Infrastructure. “The earlier businesses start thinking about it, the more time they have to make the necessary changes, from energy consumption to waste and recycling, and their business model itself.” However overwhelming the task seems, there are simple steps you can take. Putting environmental impact at the heart of every business decision is the first. “There’s a lot small businesses can do,” says Mr Baxter. “The type of vehicles you have, or driving less. The greenest energy is the energy you don’t use. It’s similar with waste, maximising the materials you use to greatest effect.” Transitioning to net-zero can also
firstvoice.fsb.org.uk
26-29 Features - sustainability_First Voice Oct-Jan 2022_First Voice.indd 27
deliver business benefits: cutting costs, attracting talent and bolstering reputation. “Being sustainable could be an area of business growth,” adds Mr Baxter. “Customers are expecting to do business with more responsible companies, and people want to work for companies that are doing the right thing.” The following areas are those in which you can make a big impact through relatively small changes, helping to play your part in cutting emissions.
1
2
Save your energy
3
Sustainable workplaces
Cut energy use where you can, then source essential electricity from renewable suppliers. Green energy used to command a premium, but suppliers now offer competitive tariffs. SSE, for example, is supporting SMEs to go green by supplying 100 per cent renewable electricity for new business customers. “If you add up the 5.6 million SMEs across Britain, collectively they can make a huge difference,” says Nikki Flanders, MD of SSE’s customer business. Green energy comparison sites such as Big Green Switch can help you find a sustainable supplier, and it has also launched an initiative letting SMEs offer home workers £35 of free green energy.
Stick to a single principle
Reorganising your business around sustainability is the most effective way to appease consumers, investors and employees calling for sustainability, believes Neil Gaught, co-founder of Single Organizing Idea. “The only way to guarantee that you deliver sustainability in everything that you do is to make it part and parcel of the core business strategy, using that as the guiding star for everything,” he says. By engaging with all stakeholders, internally and externally, you can identify a ‘single organising idea’ and the values that underpin it, then align every part of your business with it.
There are many ways to make a workspace more sustainable. During the first lockdown, Natasha Penny, founder of accountancy firm Busy Books Westbury, downsized from a rented office to an environmentally friendly shipping container in her garden. The location cuts her fuel use and Ms Penny has had an EV charger installed via a government grant.
Sustainability stats
2050 The year by which the UK is required by law to hit net-zero carbon emissions
64m The number of unnecessary emails sent by Britons each day
22% The proportion of small firms that currently believe they need to adapt to meet government emissions targets
october 2021-january 2022 | firstvoice | 27
24/09/2021 09:08
feature sustainability
She is already seeing energy and financial savings: “The container is easy to heat and light, and cheap to run with no rental costs.” Its environmental credentials are enhanced by custom insulation and a sedum meadow roof to offset CO2 emissions and attract wildlife. “My staff love the clean, fresh, unique place of work, knowing they are working for a company that cares about the planet, not just profits,” says Ms Penny. “I would encourage other business owners to be honest about what they need from their place of work, and if they can make the smallest changes.”
4
Vehicles and transport
Transport contributes to CO2 emissions, so switching to electric or ditching the motor altogether can have a major impact. “Explore public transport options to see if you can reduce your car journeys,” suggests Ms Andres. “Or look at options such as a cycle-to-work scheme, if available to you.” According to research by Electric Bike Access, those living close enough to cycle to work could see impressive reductions in their carbon emissions. Driving commuters generate 4,321.77kg of CO2 over the course of a working life, while cyclists generate 20kg – also significantly smaller than rail commuters, at 588kg. “Not only does cycling to work
encourage staff to put their wellbeing to the forefront, it can help businesses meet environmental targets,” says Ed Pegram, Business Manager at Electric Bike Access.
5
Go digital
The amount of energy needed to power the servers for any website is huge
While many businesses now operate remotely, cutting transport emissions, few count the carbon cost of virtual communications. According to Ovo Energy, Britons send over 64 million unnecessary emails each day, using vast amounts of energy via computers and servers. If each UK adult sent one fewer, it would save 16,433 tonnes of carbon a year. Tom Vaughton, founder of analytics consultancy Varn, encourages clients
28 | firstvoice | october 2021-january 2022
26-29 Features - sustainability_First Voice Oct-Jan 2022_First Voice.indd 28
to recognise digital activities’ cost. “Website hosting has a massive impact,” he says. “The amount of energy needed to power the servers for any website is huge.” Web design can also make a difference. “If your website is more user-friendly, customers have to spend less time looking for information on it, so it costs less power and you’re likely to convert more clients.”
6
Tackle packaging
Sustainability isn’t just in your products; it’s also in the way you deliver them. Consumers expect minimal packaging and easily recycled materials. Ystrad Mynach-based Transcend Packaging
How you can get involved Looking to be more sustainable, but not sure where to start? The race to a net zero carbon economy by 2050 has begun – and FSB are making sure small businesses aren’t left out of the big picture. You can get all the help and guidance you need for your business at our Sustainability Hub at www.fsb.org.uk/sustainability The COP26 climate talks, taking place in the UK this November, give FSB the perfect opportunity to explore the significant role small businesses will play in the transition to Net Zero.
You can join this free conference on 2 November to find out what’s in it for you. For registration details scan the QR code (left), or go to bit.ly/FSB_NetZeroJourney
firstvoice.fsb.org.uk
24/09/2021 09:08
feature sustainability
was founded to help small businesses convert packaging to sustainable alternatives. “We’re not talking about paper-based materials that can only be industrially composted, incinerated or recycled by niche companies, but a paper product that is as easily recycled as a newspaper, or can biodegrade in your home compost bin,” says company CEO Lorenzo Angelucci. Digital printing, which has lower minimum-run sizes, allows businesses to reduce order sizes, warehousing requirements and packaging waste, saving materials and money. And by using UK-made products and components, small businesses can shorten their supply chain. “Reducing the need to import products from abroad minimises excess CO2 emissions,” adds Mr Angelucci.
7
The smaller stuff
As well as considering major changes, it’s worth sweating the small stuff. Portishead-based bClear Communications is aiming to become carbon-neutral by the end of the 2021 – and in the meantime, it is making as many simple changes as possible. All office tea, coffee and sugar is Fairtrade; it uses recycled toilet roll and paper towels; wildflower areas attract bees and butterflies; every staff member has a plant to improve air quality; team members are encouraged to cycle, walk or use public transport; and printing is limited, and always black and white. CEO Debbie Staveley says: “It makes a real difference to know that you’re playing your part, and employees appreciate it too.”
Help for small businesses “There are major changes coming, but you’re not doing it on your own,” assures Friederike Andres, FSB’s Policy Advisor for Energy, Environment and Infrastructure, citing a number of schemes helping SMEs shift to more sustainable practices. FSB is part of the Zero Carbon Business partnership, bringing together business organisations, energy networks and environmental support services to help smaller businesses join the low carbon economy. The Zero Carbon Business Portal (zerocarbonbusiness.uk) is another useful resource. In Northern Ireland, the BITC Business Action on Climate Change (bitcni.org.uk/programmes/business-action-onclimate) offers access to a series of online resources to SMEs committing to reducing their carbon emissions by 2030. Scottish businesses can contact Zero Waste Scotland (energy.zerowastescotland.org. uk), which offers loans to SME sustainability projects. Other resources are available at Net Zero Nation (netzeronation.scot/ take-action/businesses). Business Wales (businesswales.gov. wales/green-growth-pledge-0) hosts information, workshops, online, telephone and virtual face-to-face advice, plus specialist support to help businesses go green.
PENELOPE RANCE is a freelance business journalist
firstvoice.fsb.org.uk
26-29 Features - sustainability_First Voice Oct-Jan 2022_First Voice.indd 29
october 2021-january 2022 | firstvoice | 29
24/09/2021 09:09
deep dive hospitality and tourism
Holding on Small firms in the hospitality and tourism sector play a vital role in employing people, including those from under-represented groups. But the sector has been badly hit by Covid-19 EMPLOYMENT AND ENTERPRISE
Percentage of FSB small business employers that employ at least one of the below All FSB small businesses FSB accommodation and food services
75% Men
69% 81% Women
87% 16-17 years olds
8% 25% 20%
18-20 years olds
of FSB small businesses in the hospitality and tourism sector are owned by women, compared to an overall average of 31 per cent
35% 30%
21-24 years olds
38%
Lone parents
16%
(those with a dependent child(ren) aged under 16 years old)
28% 2%
Ex-offenders
3% of small hospitality businesses employ at least one EEA national, more than any other sector
of small manufacturing businesses supply to hospitality and tourism
30 | firstvoice | october 2021-january 2022
30-31 Deep Dive_First Voice Oct-Jan 2022_First Voice.indd 30
firstvoice.fsb.org.uk
23/09/2021 11:29
deep dive hospitality and tourism IMPACT OF COVID-19
31%
54%
65%
53%
of small hospitality and tourism firms in England used the Leisure, Hospitality and Retail Grant of £25,000
used the Small Business Support Grant of £10,000
of small hospitality and tourism businesses said the relaxation of planning regulations for pubs and restaurants, allowing them to operate as takeaways, was important
used a loan from the Coronavirus Business Interruption Loan Scheme or Bounce Back Loan Scheme
HIGH STREET
56% of small firms in the sector have taken on new or existing debt as a result of Covid-19 – higher than any other sector
HELPING OUT DURING COVID-19
feel concerned about the decline of the high street, although the sector is more positive than others
22%
Source: FSB’s A Menu for Recovery Report, June 2021
of small hospitality businesses offered shared community spaces
33% think making vacant units readily available for businesses to let would help save the high street
of small hospitality businesses donated to local food banks
26% carried out a broader community role
12% of small hospitality and tourism businesses are on or next to the high street, more so than the average small business
firstvoice.fsb.org.uk
30-31 Deep Dive_First Voice Oct-Jan 2022_First Voice.indd 31
provided free services or accommodation to key workers
october 2021-january 2022 | firstvoice | 31
23/09/2021 16:24
feature the decline of cash
MONEY
WORRIES The pandemic has accelerated the fall in cash use – but while many are happy to pay by other means, this does not apply to all. David Adams reports on how small firms are responding
F
IRST VOICE HAS BEEN reporting on the decline of cash for years, as more consumers and businesses adopt card and other digital payment methods. However, the pandemic has accelerated these trends. Lockdowns forced more business and retail activity online, led to higher limits on contactless payments and 32 | firstvoice | october 2021-january 2022
32-34 Features - Cash_First Voice Oct-Jan 2022_First Voice.indd 32
saw consumers asked not to use cash by some retailers. Another long-term trend – the closure of bank branches – has also continued, making it harder for businesses and their customers to withdraw or deposit cash. What are the implications of those changes? Between 2017 and 2019, cash use fell by about 17 per cent per year, but 2020 saw a 35 per cent decline, according to financial
industry body UK Finance. Cash was only used for 17 per cent of payments, compared to 45 per cent in 2015. More than half of all payments (52 per cent) were made by debit or credit card, with contactless cards alone accounting for 27 per cent – up from 19 per cent in 2018, and used by at least 75 per cent of people in every age group. Almost one in three adults (17.3 million people) were firstvoice.fsb.org.uk
23/09/2021 11:30
feature the decline of cash
also registered for at least one mobile payment scheme by the end of 2020, with 7.4 million signing up during the year. “Customers have greater choice and are able to select the payment method that suits them,” says Adrian Buckle, head of research at UK Finance. “The important thing for small businesses is understanding how customers want to pay and supporting them in doing that.” Many people still like cash, though. UK Finance’s figures show that, even in 2020, 1.2 million consumers used cash for almost all payments. The trouble is, to use cash, you need access to a bank or ATM. The number of branches across the UK fell from 14,855 in 2010 to 7,675 in March 2020, according to the Office for National Statistics, and closure announcements continued in 2020 and 2021. Consumer group Which? says more than 3,000 free-to-use ATMs have closed across the UK since the start of 2020. At the start of 2021, the Financial Conduct Authority (FCA) called on the eight largest high street banks to reconsider branch closures because of the negative impacts on some customers and communities. Every closed branch means a longer journey for small business owners, says firstvoice.fsb.org.uk
32-34 Features - Cash_First Voice Oct-Jan 2022_First Voice.indd 33
35%
The amount by which the use of cash fell during the Covid-19 pandemic in the UK FSB National Vice Chair, Policy and Advocacy, Martin McTague – “or standing in a Post Office queue – not acceptable if you’re holding £5,000 in cash”.
Risky move Some small businesses have responded by going cashless, with payments taken via card, mobile or online transfer. The payments move seamlessly into their bank account, and there is no need to visit the bank in person, with the security risks that entails. It works well for some businesses, but relies on the efficacy and reliability of the technology, from devices in retail stores to banking and payment
apps, software and Wi-Fi or broadband connections. If the tech fails, the business may be unable to take payments at all. There are also places where broadband connectivity is patchy or non-existent, restricting use of non-cash payments. “Most people in those communities will end up carrying cash, so small businesses in those areas cannot trade without having access to cash,” says Mr McTague. Most consumer-facing businesses have some customers who simply prefer using cash. They are often from older age groups or less wealthy demographics. Some people on lower incomes have restricted access to digital financial services, while people with disabilities may find it difficult to use chip and PIN, contactless or other digital payments. Survivors of domestic abuse may use cash in order to evade their abusers. Both Which? and FSB have expressed concern about this. As Gareth Shaw, Which? Head of Money, puts it: “The UK is sleepwalking into a cashless society without ensuring people who are reliant on cash are not left behind.” In spring 2021, the two organisations launched a campaign asking businesses to sign up to a pledge: to accept cash for as long as october 2021-january 2022 | firstvoice | 33
23/09/2021 11:30
feature the decline of cash
customers want to use it. Retailers, other consumer and trade associations and the Bank of England have all offered support. There is also an element of self-interest here. Mr McTague points to FCA figures showing that five million people in the UK “are dependent upon cash for most purposes – and businesses have got to trade with those people”. He adds: “We’ve also always felt that the card companies are more likely to keep charges low if they’ve got cash as a competitor.”
Cashing up Nonetheless, some small businesses have stopped using cash. They include Campbells, which runs a bakery and two shops in Crieff and Comrie, Perthshire. Founded in 1830, the business is now run by a seventh generation of Campbells: Ian and his wife Ailsa. They were considering going cashless before the pandemic, to remove the burden of managing cash and travelling to and from the bank. When the shops reopened in June 2020 after the first lockdown, they did so without cash. Ailsa says there is no comparison between using apps and services from Starling Bank and the old way of working. “It’s all online, it’s easy to use, there’s no more counting cash: it just flows into the bank account,” she says. “We did get negative feedback from a few customers, but most people have bank cards and know how to use them – and with people using cards, average spend is up, too.” There are downsides. “There is some cost involved, in bank charges and the cost of the technology,” she explains. “You need someone in the business who can work with the tech.” She also regrets the shops no longer having charity collection boxes – she and other local businesses are investigating other ways to fundraise. Ben Simmons, owner of the Big Shots Café in Brighouse, West Yorkshire, has also observed a fall in the use of cash, but has no plans to go cashless. First Voice interviewed the café’s previous owner, Naomi Sleigh, about the decline of cash in 2019. She did not want to stop using cash, largely because some customers still 34 | firstvoice | october 2021-january 2022
32-34 Features - Cash_First Voice Oct-Jan 2022_First Voice.indd 34
The important thing for small businesses is understanding how their customers want to pay wanted to use it; one in three transactions were still conducted in cash. Today, says Mr Simmons, it may only be one in 10. “I think eventually everything will go cashfree,” he says. “But there are always a few customers who still like dealing in cash.” This is despite the fact that the last local bank branch has now closed. “I have to go all the way to Halifax or Leeds to do any banking, which is a huge inconvenience,” says Mr Simmons. But because the business now uses less cash, he only needs to do this about once a month.
Access controls With cash still useful, and sometimes essential, there is a need for policymakers to support access to it. The Government acknowledged this: it has been conducting an Access to Cash consultation, seeking feedback on proposed legislation to protect networks for cash withdrawal and deposit facilities, and considering whether a single regulator should be given overall statutory responsibility for cash. It will also
introduce cashback without purchase in some shops, after adding this to its Financial Services Bill. Banks are backing initiatives to support cash access, including eight Community Access to Cash pilots running in locations across the UK. Some of the pilots featured Bank Hubs, providing basic banking services from locations such as Post Offices, and/or use of automated deposittaking machines and ATMs. The pilots ended in October 2021, but UK Finance has formed an Access to Cash Action Group to develop further proposals. “The banking and finance industry has publicly committed to ensuring there is access to cash for those who need it,” says Mr Buckle. “However, we must recognise that cash is used less than it once was, so the challenge is to ensure an efficient and effective cash distribution system that is sustainable at lower levels of cash usage.” With caveats about reliability and connectivity noted, technology also has an important role to play. FSB members can access a range of payment services delivered via FSB partner Worldpay, including secure physical and virtual payment terminals, and real-time monitoring of payment data. Other fintech specialists continue to develop new tools – such as Incomeing, an app that enables and monitors payment requests for businesses, or Tomato Pay, which uses QR codes to enable instant payment via phones. Development and adoption of Open Banking should soon stimulate further innovation. “People should have the freedom to pay the way they want,” says Mr Shaw. “An individual business can look at its customer base and say how it can best service them. Cash is still important to the economy, despite the decline in use. If we just rush into a cashless world, there could be serious consequences. That’s a good reason for everyone to care about this, even if your business is no longer using cash much.” DAVID ADAMS is a freelance business journalist firstvoice.fsb.org.uk
23/09/2021 11:30
FV.Oct21.035.indd 2
14/09/2021 15:02
GUIDANCE FOR SMALL BUSINESSES
advice HOW TO...
Market your firm post-Covid Raising awareness of your business can be one of the biggest challenges for small firms that lack large marketing budgets. Omar Merlo and Jaka Levstek outline how it can be done HE COVID-19 PANDEMIC HAS TAKEN A severe toll on businesses, with many having spent the past year and a half struggling to survive, and relying on Government grants and furlough schemes simply to make it through this tough period intact. Of course, one of the first questions business leaders tend to ask themselves during a difficult period is: where can I cut costs? Often, companies that are strapped for cash will see the marketing department as an easy area to cut, believing it will have minimal effect on the wider business – but this is simply not true. Brand marketing has never been more important, especially as it now looks as though we are entering some form of normality again, and businesses are competing with each other for customers after 18 months of just surviving. However, some small businesses may have seen the pandemic impact their marketing pot, or lacked a big budget even before it hit – especially compared to the competition. How can these firms get the most out of marketing on a limited budget? Here are five tips for marketing your firm successfully without breaking the bank.
T
36 | firstvoice | october 2021-january 2022
36-37 Advice - How to 1_First Voice Oct-Jan 2022_First Voice.indd 36
1
THOUGHT LEADERSHIP ON SOCIAL MEDIA
Social media is a fantastic and free tool that business owners can use to market their business. One key approach that can garner the best results is using personal profiles and thought leadership to offer something valuable to your network. This is a great way to boost your personal brand and ensure you grow a following in a specific field, targeting the right audience. Business owners can use sites such as LinkedIn to position themselves as an authority figure in their field, and therefore someone who
can offer creative solutions to those who need them. You’ll be able to target the specific sectors to reach your intended audience, and subtly showcase your expertise as well as offering your products and services. Building up a personal brand on these sites is inexpensive to do – it just takes time. However, the time you spend creating this valuable content for your relevant audiences will be worth it once your network grows and you and your company become well known in your specific industry.
2
DIGITAL DATABASE TOOLS FOR TARGETED EMAILING
Digital advertising on platforms such as Google and Facebook is becoming more costly. It’s firstvoice.fsb.org.uk
23/09/2021 11:32
advice marketing
leadership changes. For instance, if you sold a new, innovative tech solution, you’d be keen to find out whether a company has a new chief information officer or innovation director. These tools use machine learning to update you, and offer you the opportunity to design and target emails to these new members of management, offering services or even just a chat through email. Not only will you receive real-time updates and a list of specific and relevant sales prospects, but you’re also not having to fight for advertising space online.
3
Illustrations: Jamie Jones
Businesses are competing with each other for customers after 18 months of just surviving incredibly difficult to be seen high up for a specific keyword or phrase unless you pump a huge amount of money into it. Database-focused tools scan company and senior management profiles on sites such as Companies House and LinkedIn to keep you updated on any firstvoice.fsb.org.uk
36-37 Advice - How to 1_First Voice Oct-Jan 2022_First Voice.indd 37
OFFER FREE TRIALS OR PRODUCTS
Offering free trials or access to free products can get customers onboard quickly and easily. Many potential customers may be put off by the initial high cost barrier of your product, especially if they have no third-party trustworthy feedback, or need to sign up to a long subscription or contract. By offering potential new customers the opportunity to try your products and services for no cost, you can easily attract a large number of people, many of whom may be keen to carry on using the product or service even if it eventually comes to a time where they may have to pay. This method, of course, is only successful if you have complete trust in your product or service, and know that what you offer is going to be appreciated and wanted by those customers.
4
TAKE CARE OF YOUR EXISTING CUSTOMERS
Marketers often tend to obsess about new customer acquisition.
However, it is much easier, and more beneficial, to keep the majority of your customers and grow by a few percentage points each year than to have a rapid growth in clients, but also a huge client turnover. One relatively inexpensive way to keep current customers happy is to offer loyalty rewards, whether that’s discounts, exclusive access to services or even just customer participation, so they have a say in how the company moves forward. Current customers will value this, and will want to continue buying your product or service if they feel valued themselves.
5
KNOW THE AREAS THAT BENEFIT YOU THE MOST
Keep an eye on the marketing, PR and advertising opportunities that work for your business, and know how to use them to the best of your ability. For instance, influencer marketing on Instagram won’t work for a manufacturing company, but it will for an ecommerce one. It’s important you don’t invest in the wrong type of marketing for your company, industry or target audience. So, whether it is thoughtful content marketing, targeted earned media, podcasts and broadcast outlets, or influencer marketing, ensure you do your research and know which one would benefit you most. OMAR MERLO is Academic Director of the MSc Strategic Marketing programme at Imperial College Business School JAKA LEVSTEK is CEO and co-founder of d.labs and Executive in Residence at Imperial College Business School october 2021-january 2022 | firstvoice | 37
23/09/2021 11:32
:KHQ LW FRPHV WR ¿ QGLQJ FRPSHWHQW ¿ UH VDIHW\ VHUYLFH SURYLGHUV IRU \RXU EXLOGLQJ
, y f i c e p s t s u j t ’ n o D
verify!
WKHLU 7KLUG
3DUW\ &HU
WL¿ FDWLRQ
0DMRU ¿ UHV DUH KLJKOLJKWLQJ WKH QHHG WR HQVXUH WKH ULVN IURP ¿ UH LV UHGXFHG DQG PDQDJHG LQ WKH EHVW ZD\ SRVVLEOH :KHQ VRXUFLQJ KHOS PDNH VXUH \RX VSHFLI\ FRPSHWHQW ¿ UH VDIHW\ SURYLGHUV and YHULI\ WKHLU 7KLUG 3DUW\ &HUWL¿ FDWLRQ LV DSSURSULDWH DQG YDOLG IRU WKH ZRUN UHTXLUHG $OO %$)( 5HJLVWHUHG &RPSDQLHV DUH 7KLUG 3DUW\ &HUWL¿ FDWHG YLD 8.$6 $FFUHGLWHG &HUWL¿ FDWLRQ %RGLHV LQ RQH RU PRUH VSHFL¿ F DUHDV RI ¿ UH VDIHW\
8VH WKH %$)( )LUH 6DIHW\ 5HJLVWHU WR HLWKHU VHDUFK RU YHULI\ D SURYLGHUV VSHFL¿ F 7KLUG 3DUW\ &HUWL¿ FDWLRQ
ZZZ EDIH RUJ XN British Approvals for Fire Excellence
FV.Oct21.038.indd 2
17/09/2021 10:37
advice technical information
1
4
WORK WITH EXPERTS
The right video can give you a competitive advantage and convey a lot of information in just two to three minutes – but first you have to decide what you want your video to convey. Do you need it to provide an introduction to your business? Is it to highlight an interesting case study – an inspiring customer story that a potential new client could empathise with? Or are you looking for an explainer video to show how a product works?
Instead of briefing your video production company on tone of voice and brand guidelines, brief them on the emotional response you want from your audience. How do you want them to feel while they’re watching, what behaviour do you want to trigger and what do you want them to do when they finish watching? Once the creative process of filming or animating the video has begun, your feedback will be important during production to keep everything on track.
2
5
REPURPOSE CONTENT
6
GET IT OUT THERE
DECIDE ON THE TYPE OF VIDEO
GET THE MESSAGING RIGHT
Maximise your return on investment by identifying which of your messages will be most effective visually – and therefore give you the results you need. Create a brief with a breakdown of what the video is for, who the target audience is and why you want to make it. Then storyboard it, visualising the key stages of the brief – are you showing how a product works, for example, or are you planning interviews with team members or clients?
3
HOW TO...
Use video to win customers
THINK ABOUT TONE
Graphics, animation and sound can all help to reinforce your brand. A well-placed logo, gentle music and a good speaking voice create a feel for your brand that would be impossible using just text. Make it easy for the viewer to absorb your video content by avoiding technical jargon and using everyday language that anyone can understand. Keep the tone light and friendly and the styling simple – avoid jarring transitions and effects. Your video needs to elicit an emotional response and be memorable.
firstvoice.fsb.org.uk
39 Advice - How to 2_First Voice Oct-Jan 2022_First Voice.indd 39
Video can be a useful way of getting your message in front of the right people at the right time, and persuading them to engage, says Rob Edmonds ISUAL CONTENT CAN BE A POWERFUL tool to increase sales, when used in the right way. Bold, engaging and inspiring video and animation content can make all the difference. Telling people that your company can help them will persuade some people, but many more will be convinced when you show how you can help them. The following six steps will help you create engaging videos to increase sales.
V
Work smart to get the most out of your budget. Make sure your content can be reused and repositioned for different purposes – create short clips for social media, or use an extract from a case study interview to explain how straightforward your onboarding process is. Your video will also contain frames that can be used as still images for visual communications, from your website and social media to company presentations and sales material.
It’s no use creating a great video if no one sees it – use the right platforms and distribution tools. Use easily shareable platforms such as YouTube or Vimeo, and take into account formatting specifications. You also need to tailor your video according to the channels you choose – social media videos tend to be short and attention grabbing. The aim is to capture attention, keep people engaged and inspire them to act. ROB EDMONDS is founder and creative director at NRG Digital
october 2021-january 2022 | firstvoice | 39
23/09/2021 11:33
advice legal
Harassment
D I S C R I M I N AT I O N
Ensuring equality While only the most serious discrimination cases generally make the news, all employers need to be aware of their responsibilities under equality legislation HE EQUALITY ACT 2010 applies to all employers and service providers in England, Scotland and Wales; separate legislation applies in Northern Ireland. Small employers may have more informal practices and be more constrained by resources, which could impact how they implement the legislation – but no employer is exempt due to size. The act sets out nine ‘protected characteristics’ that are protected from unlawful discrimination: age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race, religion or belief, sex, and sexual orientation. Several types of discrimination are prohibited:
Direct discrimination based on association
T
Direct discrimination This is treating someone less favourably because of a protected characteristic, such as deciding not to employ someone because they are pregnant. Direct discrimination can never be justified in law. However, in the case of age, treating one person less favourably than someone else may be justified.
HANNAH THOMAS is an employment solicitor at FSB Legal Hub. FSB members should ring the FSB Legal Helpline on 03450 727 727 to discuss legal issues
This is where you discriminate against an individual based on their association with someone who has a protected characteristic. If you refuse to promote an employee who has a disabled child because you think they will take a lot of time off, you are discriminating against them based on association.
Direct discrimination by perception This is treating somebody less favourably than someone else because you incorrectly believe they have a protected characteristic.
Failing to make reasonable adjustments Failing to make reasonable adjustments for a disabled person is discrimination. A receptionist with anxiety and depression who found working in a public-facing role stressful was awarded over £50,000 when her employer failed to consider alternative back-office employment for her.
Indirect discrimination Discrimination arising from disability This is treating a disabled person unfavourably because of something connected with their disability when this cannot be objectively justified, such as disciplining an employee for disability-related sickness absence. 40 | firstvoice | october 2021-january 2022
40 Advice - Legal_First Voice Oct-Jan 2022_First Voice.indd 40
This applies if a practice has a worse impact on a person with a protected characteristic than one who does not, when this cannot be objectively justified. If an employer can show the practice is a proportionate way to achieve a legitimate aim, the claim will not succeed.
Harassment is unwanted behaviour related to a protected characteristic that violates dignity or creates a hostile, degrading, humiliating or offensive environment.
Victimisation Victimisation is treating someone unfavourably because they have taken action relating to the Equality Act, for example making a complaint or supporting somebody who is doing so. Employers are legally responsible for acts of discrimination, harassment and victimisation carried out by workers while they are doing their job. It does not matter whether the employer knew about or approved of what the worker did. However, the employer will not be held legally responsible if they can show that they took all reasonable steps to prevent their worker acting unlawfully. Below are examples of reasonable steps employers can take that may provide a legal defence against discrimination carried out by workers: Providing a simple checklist on discrimination to talk staff through, together with regular refreshers, or arranging equality training Writing expected standards of behaviour in a dignity at work policy Including a requirement about behaving in line with equality law in employment contracts or written policies, and making it clear that breaches will be treated as disciplinary matters Making it clear how staff can complain if discrimination happens. FSB members have access to a template on dignity at work and equal opportunities policy and guidance on discrimination on the FSB Legal Hub.
Unless otherwise stated, the advice on this page applies to England and Wales only
23/09/2021 11:33
The A4 Label Specialists
Laser & Inkjet Labels Free Samples
Huge Range
Fast Despatch
Call us on:
01270 668076 Buy online at:
www.labelplanet.co.uk FV.Oct21.041.indd 2
14/09/2021 15:03
No contract, no hidden fees, just easy flexible payments. sumup.co.uk/firstvoice
o o o o o o o
oo
oo
o
oo
ss ne
Make your bus i
oo
oooo
FV.Oct21.042.indd 2
fic ial
o
o o o o
ooo
f o o
o o ooo
oo
14/09/2021 15:05
RESOURCES TO HELP YOUR START-UP SUCCEED
IN ASSOCIATION WITH
first steps BUSINESS PREMISES
Office politics Covid-19 has shaken up the business premises market, leaving some small firms unsure where to turn next as the recovery takes hold. Christian Doherty outlines the options available to SMEs in a post-pandemic landscape
OVID-19 HAS FORCED many of us to reassess where and how we want to work. Millions have been forced to work from home; for some, office leases have been relinquished completely. But with normality seemingly about to return, many small business owners are asking: should a return to the status quo be the priority, will the home office serve as a permanent base, or is there another option? The commercial real estate sector hopes home working won’t take hold completely. Instant Group reports that when restrictions were tightest, occupancy rates in some cities such as Edinburgh fell close to 50 per cent – but during Q2 2021, rates across all key cities analysed were over 70 per cent, which it labels “a very positive sign for the recovery of the industry”. Among the optimists is Richard Morris. The chief executive of IWG plc is one of the most important voices in the debate over UK workspace: IWG owns Regus, the UK’s biggest chain of serviced offices, and many other co-working and workspace brands. He believes the pandemic has changed how companies view location, service and convenience. “What we’re seeing now is this move to hybrid working, with people being more flexible,” he says. “People want to work nearer to where they live. Not surprisingly, that’s down to the fact that we’ve all seen the benefits of not having to do the grinding commute in the car, bus or train most days.”
C
Think local That new approach is reflected across the UK. Gareth Alexander owns a technology business in Hull. His Covid-19 tale is typical: initial shutdown shock followed by a reduced team, working from home. firstvoice.fsb.org.uk
43-44 First steps - office premises_First Voice Oct-Jan 2022_First Voice.indd 43
october 2021-january 2022 | firstvoice | 43
23/09/2021 11:34
first steps
IN ASSOCIATION WITH
business premises
After six months at the kitchen table, he built a garden office. “My commute is now 10 yards, from the kitchen to the bottom of the garden,” he reflects. “It cost £5,000 to build, it’s got electrics and Wi-Fi, and it took eight weeks to install.” Mr Alexander says that by staying within permitted development planning rules, the office both suits his business and adds value to his house. “In addition, we’re saving money on the rent that we would have been paying – something around £8,000 a year for office space.” There are financial and accounting aspects to consider. Under UK law, a company can pay the full cost of a garden office, assuming it is used for business purposes. However, no corporation tax deduction can be claimed on the building cost; HMRC classes the office as a capital rather than revenue expense, thanks to the office’s expected use for “a reasonable period and will provide enduring benefit to the business”. They therefore don’t qualify for immediate tax relief. In addition, Mr Alexander notes, garden offices require careful tax treatment: “In essence, your business is renting that space from your home, so you can charge money for rent, utilities and so on,” he says. “But you need to be careful: if it’s too high then the property could be deemed commercial, so when you come to sell your home, that may have lot of tax implications.” For now he’s happy to have designed a truly hybrid model of remote and home working. “With the 9-to-5 out of the window, the flexibility and productivity have definitely improved,” he says. “It’s worked well, and the IT has held up.”
between home and office, and allowing her team to do the same. “I do sometimes wonder, ‘why didn’t I look at this before?’” she says. “Because we’ve now got a smaller team, we do a lot of training online as opposed to being on-site. We also renegotiated our terms at the incubator, where the management team has been really supportive.” Ms Winwood is now looking at taking on a smaller office to reflect the newly remote/flexible business. “Four of us worked 40 per cent from home, and two further members are in the field working from home,” she says. “It’s a different set-up, but it’s working much better.” By renegotiating key terms and setting up a payment plan, she has kept hold of the office space needed to bring the team together. “We lost 64 per cent of the turnover initially,” she recalls. “We would have downsized if we could have, but thanks to a sensible conversation with the landlords, that’s meant so much.” Thankfully, her business is recovering well, so office space is still needed. But
My commute is now 10 yards, from the kitchen to the bottom of the garden
Hybrid solution Amanda Winwood’s experience reflects Mr Alexander’s. She launched her skincare and wellness business Made for Life Organics eight years ago, but Covid-19 has prompted her to re-model, retaining an office/ lab in an ‘incubation’ space in Plymouth while splitting time 44 | firstvoice | october 2021-january 2022
43-44 First steps - office premises_First Voice Oct-Jan 2022_First Voice.indd 44
where that space is, and how often it is used, remains unclear. Mr Alexander understands the dilemma: his business’s growth will hinge on adding workers from further afield, making investing in a permanent location pointless. “One of the issues we have as a business outside London is trying to find the right skillset,” he says. “Now, to address that, I work with a developer based in Romania and one in London; we don’t see any massive impact on their performance because they’re remote. “If we want to grow, I could see us renting a conference room for a day every few weeks,” he says. “You can get everyone together, almost like a quarterly board meeting. I could see a situation where we have a meeting in Leicester, say, or Nottingham, where everyone can get to easily. I see renting individual rooms in a Covid-safe environment for a day every quarter as the way of the future.”
Local regeneration One possible consequence of a permanent shift towards working locally is the reinvigoration of high streets. “We’re seeing big demand in suburban and rural locations – 100 per cent higher than before the pandemic in some suburban sites,” says Mr Morris. He believes city centre office dynamics will change: “They will become places where people gather to do things that are best done in person – team building, training, collaboration or business planning. That’s where the head office might be focused. But work will be more distributed.” The death of the office has been exaggerated, he says, and business owners have a broader range of options. “The idea of reinventing the high street is taking hold,” he says. “Retail premises need new purpose, and as more become available it’s a great opportunity to use them as workspace.” CHRISTIAN DOHERTY is a freelance business journalist firstvoice.fsb.org.uk
23/09/2021 11:34
advertorial SumUp
5 ways to get paid without cash C
ash is king, the old saying goes – but is that really the case these days? Customers are increasingly turning away from cash, both because of new habits formed during the pandemic, and because there’s an ever-expanding range of more convenient and appealing ways to pay. Certainly, cash alternatives are on the rise in the UK – even back in 2018, debit card transactions were exceeding cash payments. Cashless is easier for customers; it’s quick and secure, and there’s never an awkward scramble to find exact change. At SumUp, we make it simple for small businesses to go cashless. No contracts, no hidden fees, just easy flexible payments.
Card readers A card reader is probably the first thing that springs to mind when you think of cashless payments. Ours are easy-to-use for both you and your customers, and we don’t charge any monthly fees or ask you to sign a contract. A SumUp card reader is also small enough to fit in your pocket, so you can take it wherever your business takes you.
Online store Another great way to get paid is to set up an online store so you can sell your products to anyone from anywhere. With firstvoice.fsb.org.uk
Sumup Advertorial_First Voice Oct-Jan 2022_First Voice.indd 45
SumUp’s free online store builder, you can create your very own ecommerce website in minutes. Simply add items, press ‘publish’ and reach customers around the world. And with our intuitive store editor, it’s a breeze to add logos, homepage banners and SEO tags – no web design skills required.
QR codes Payment by QR code saw a huge surge in popularity during the pandemic. If you’re looking for a hygienic, truly contactless payment solution, look no further. Simply generate a code within the SumUp App, print as many copies as you like, and stick them in convenient spots around your place of business. Then your customers can pay with their smartphones, completing transactions via our secure website.
“Cashless is easier for customers; it’s quick and secure, and there’s never an awkward scramble to find exact change”
Payment links Payment links are the flexible way to get paid online. Enter the amount you want to charge, generate a link and share it with your customer via social media, SMS or email. The link will take the customer to a secure website where they can complete the transaction. It’s a great way to take cashless payments without a card reader.
Invoices With SumUp Invoices, you can generate professional, legally compliant, on-brand invoices in moments. When your customer receives an invoice, they’ll have the option to pay online, instantly and securely. You can create and send as many invoices as you like with no service fees. There are also no costs for receiving payment by bank transfer – just a small fixed fee for card payments. All in all, SumUp Invoices makes it just that little bit easier to get paid on time. So start your cashless payment journey today and make your business official. Simply download the SumUp App and create a free profile, or head to sumup.co.uk/firstvoice to learn more. october 2021-january 2022 | firstvoice | 45
23/09/2021 11:35
first steps my journey
ABBEY UPHOLSTERERS
Bouncing
back
After Covid-19 and Brexit, Carrickfergusbased furniture manufacturer Abbey Upholsterers was hit by a factory fire earlier this year. Nick Martindale speaks to Managing Director Paul Devlin and Commercial Director Judith Neill about how it is rebuilding
Q
Can you tell me about the business and how it was set up originally?
PD: It was set up by my grandfather. People were finding it difficult to get things done just after the war, and he started doing carpet-laying and moved into
46 | firstvoice | october 2021-january 2022
46-47 Frsit steps - my journey_First Voice Oct-Jan 2022_First Voice.indd 46
upholstery. In the 1960s my father, George, joined and he upscaled it, and they built a new factory in the grounds of the family home. My father is now 77 but he’s still in most days, from 7am to 6:30pm. My brothers, Desmond and George, are in the business as well.
Q
How has it grown over time?
PD: When my father started the new factory it was manufacturing to supply shops, but during the Troubles there was a lot of damage done to hotels, bars and restaurants, and they adapted to that. We did a lot of work for a company owned by Guinness called Croft Inns, and would service its 12 pubs, looking after maintenance and fitouts. When I joined in my early 20s we moved more into hotels. In 2007 we left the original factory because we had outgrown it and moved to a 100,000 square foot factory in Carrickfergus. In the last two to three years, we have had an extension planned for that factory with a 25,000 square foot shed. Every year the business has grown and we now do more in hospitality, football and horse racing. We’ve done fitouts at Arsenal, West Ham and Wembley, and the boxes at Royal Ascot. But the company name
firstvoice.fsb.org.uk
23/09/2021 11:36
first steps my journey
SCAN ME Watch the video of the interview by scanning the QR code
Q
What advice would you have for anyone starting their own business now?
doesn’t reflect everything we do. We can upholster and make new items, but we can also do joinery and repolishing.
Q
PD: The main thing is to realise the amount of hard work that they’re going to have to put in to get it up and running, and to where they want it to be.
How have you financed the business?
PD: We have financed it as we have grown. Last year we were looking at turning over £15 million, and then Covid-19 hit. Everybody thought it would pick up after the summer but it steadily got worse. It’s only in the last few weeks that projects that were on hold are starting to see life, but the downside is the increased costs. In a normal year we’d be looking at 3-5 per cent increases, but now we’re looking at 30-70 per cent across the board.
Q
You were badly hit by a fire in April this year. How did that affect you?
PD: It couldn’t have happened at a worse time. There was a bit of light at the end of the tunnel coming out of Covid-19, and things were starting to open up. We had had a lot of projects before Covid-19, and that meant that we were storing a lot of furniture for different companies, and the fire took a lot of that out. But we were very lucky that all the heavy machinery was saved. We were also lucky in that we were able to move 40 per cent of our production literally a couple of miles down the road into an old Amazon warehouse, which meant we were back up and running within two weeks. But
People should look at their insurance in a very detailed manner
firstvoice.fsb.org.uk
46-47 Frsit steps - my journey_First Voice Oct-Jan 2022_First Voice.indd 47
Q FSB Northern Ireland Regional Chair Brendan Kearney (left) presents Paul and George Devlin (junior) of Abbey Upholsterers with the FSB UK Family Business of the Year 2020 award
we then had to jump on trying to get these projects operational, replacing furniture that had already been made. We’ve only been fully operational for new projects from the end of July. We hope to have the old factory fully open again for the end of March 2022.
Q
How did you handle that from a staffing perspective?
JN: Paul and the senior management team made sure we sent out positive messages to ensure that staff were confident that we were going to get back up and running again. We’ve retained the majority of staff, and also had to take on a few extras just for the logistics of getting up and down the road.
Q
What advice would you have for other small firms, based on your experience?
PD: One thing people should do is to look at their insurance in a very detailed manner because what they think they’re insured for and what they are insured for could be two different things. The other thing which has taken up a lot of time is getting them the information they need, so just making sure that all the paperwork is right.
What do you enjoy most about running your business?
PD: The satisfaction you get when a big project has just finished. It gives you confidence and pride to know that you’ve done a football stadium or a hotel or fitted out a big house and people are delighted.
Q
What are the main challenges as we start to recover from Covid-19?
JN: Staffing could be a problem. It’s quite easy to get people onto an apprenticeship in the joinery side of the business, but there are so many other aspects of the business that aren’t promoted in education. Apprenticeships are not offered in upholstery and warehousing through traditional avenues, so we have sought alternative apprenticeship schemes to further train and develop our employees. Brexit hasn’t helped, because we previously employed a lot of foreign workers and they have lost confidence in coming to Northern Ireland.
Q
What are your hopes for the future of the business?
PD: We’re concentrating on getting the factory rebuilt, but we’re also looking at building the extension. We’ve invested in new machinery that’s due at the start of next year, so we’d like to get back to how we were in March last year. JN: The expansion will increase our capacity and our capabilities, and hopefully our employment, and then we’ll be able to go for some even larger projects, as well as continuing to facilitate customers we already have.
october 2021-january 2022 | firstvoice | 47
23/09/2021 11:37
first steps your questions
Bad debt and rent renewal Our legal experts are on hand to provide you with advice on setting up and running your own business. Adam Grimwood, a solicitor at FSB Legal Hub, answers some of the latest queries
Q A
I am having trouble with bad debts. What should I do?
What you do depends on the circumstances, such as the nature of the client and the amount of debt. You may want to be more patient with a long-standing or regular customer. If there is a dispute over the quality of the goods or services, you must try to resolve this before issuing court proceedings. It’s important to ascertain who owes the money. It is amazing how often we don’t establish who we are dealing with: an individual or a business; a sole trader, partnership, LLP or limited company? Generally, you should start with a pleasant chasing letter, politely reminding the client about the debt, but with a deadline for replying. If the money isn’t forthcoming, or an acceptable arrangement made, then send a letter (or email) before action. If the debtor is an individual (including a sole trader), your final letter before action must comply with a ‘pre-action protocol’, so needs to be in a certain format. If the debtor is an LLP or limited company, it doesn’t. It’s a good idea to state what interest is due either under your terms and conditions or, if your client is a business and your T+Cs don’t cover this, under the Late Payment of Commercial Debts (Interest) Act 1998.
If the client still hasn’t paid, you can take court action. You typically start using the Money Claim Online portal. If the amount is less than £10,000, it’s generally referred to the small claims track. If the debt is large enough, you could consider starting insolvency proceedings against your debtor. If they are an individual, the
48 | firstvoice | october 2021-january 2022
48 First Steps - Ask the experts_First Voice Oct-Jan 2022_First Voice.indd 48
debt must be above £5,000; for a limited company, it’s only £750, but these actions cannot currently proceed if the limited company can show that it is suffering financial difficulties caused by Covid-19. There are precedents for the appropriate letters on the FSB Hub, and FSB Legal offers fixed-fee debt recovery services.
Q
My lease ends next May. We’d like to stay on, but wish to avoid an increase on our rent. What is our position? Check whether your lease is ‘inside’ or ‘outside’ the Landlord and Tenant Act 1954. For the Act not to apply, you would have signed a declaration to this effect, known as ‘contracting out’. This means you’ve no automatic right to stay when the lease expires, and the landlord calls the shots on the new lease terms. If you can’t reach agreement, you could be left looking for new premises. If the Act applies (which it does if you have exclusive possession and occupy premises for business purposes) and neither you nor the landlord do anything, your lease will automatically continue on the same terms. Check if your lease contains a rent review clause – without this, the landlord cannot just put up your rent. If
A
there is such a provision, there will be a procedure to follow, and you can challenge any increase. You may decide to leave things as they are and hope the landlord also finds this acceptable. The Act provides a mechanism for either party to bring matters to a head, but the final outcome may only be achieved by issuing court proceedings. For tenants, the procedure is triggered by serving a Section 26 Notice request to the landlord for a new lease. The landlord can choose whether to oppose it. If the matter goes to court, any new lease granted must be on substantially the same terms as before, although it’s likely the landlord will seek a rent increase. Before starting this process, take advice from a local chartered surveyor about the amount of rent you could be expected to pay – you’ll know whether it’s worth having an interim discussion with the landlord about renewing. There are now cases where the courts have had to look at Covid-19’s effect on what the new rent should be.
Unless otherwise stated, the advice on this page applies to England and Wales only
23/09/2021 11:37
YOUR NEWS AND INSIGHTS
member spotlight
FOOD AND DRINK
Snail venture for Somerset pair RYING TO WORK OUT what to do with land and outbuildings after a house move led Lyn Paxman and her husband to set up their unlikely venture of snail farming in rural Somerset. “We liked the idea of trying something new and influencing people to be adventurous,” she says. “We also liked that escargot meat is a sustainable source of protein – it takes 45 times less land to farm escargot than lamb, per kilo of protein.” After overcoming initial hurdles, such as building predator-proof enclosures and learning how to create the right
T
firstvoice.fsb.org.uk
49-51 Spotlight - member news_First Voice Oct-Jan 2022_First Voice.indd 49
conditions to breed snails, the company Snail Escargot was hit by lockdown, meaning it couldn’t bring in help. “Luckily my older teenage children were home, so we set them to work,” says Lyn. “It really was a family project.” Another hurdle was building up a customer base. “Our main customers are restaurants and, of course, last year they were all closed and weren’t in a position to experiment with putting escargot on their menu. We were able to hibernate our stock and enquiries have been increasing this year. I’ve also found that snails are an excellent source of nutrition for reptiles, and
we now have a regular order for a live-food supplier.” Another possible market is preprepared dishes, selling directly to the public at delicatessens and farm shops. “I’d love to convert more people in the UK to eating escargot,” says Lyn, who also runs business coaching firm EvolveYou. “It’s a common choice in the rest of Europe and I don’t understand why it fell out of favour in the UK.” She’s even launched a ‘snail school’, for those looking to set up their own snail farming firm. “I teach the farming cycle, how to build the infrastructure and how to develop your business,” she says. october 2021-january 2022 | firstvoice | 49
23/09/2021 11:39
member spotlight your news and insights
COACHING
Former boxer channels winning mentality IKE MANY BUSINESS S owners, former professional boxer Billy Schwer has been forced to adapt his offering during the Covid-19 pandemic. “My main business was inspirational or motivational speaking, so obviously in the first lockdown that all disappeared,” he says. “I was a public speaker with no public to speak to.” The former British, Commonwealth, European and d World boxing champion had already written a book called Man Up The World Champion Way, which he set about turning into 12-week, one-to-one or group coaching programmes for entrepreneurs and business owners. “My brand is mental boxing, so it’s all about mindset and unlocking what’s in the way for people to succeed,” he says.
L
Billy says he has drawn on his experiences of coping with life after boxing. “I found the transition to be very difficult,” he says. “I lost everything and had a mental breakdown. I had to break free from that, and then reinvent myself, which is what I’ve been doing for the last 18 years or so.”
Billy, who has also presented at various FSB p events, says the demand for e help on how to fulfil h potential and cope with p pressure has increased since p before the pandemic. He’s b created a seven-step process, c which includes the idea of w “win or lose, you choose”. “ “That means just being mindful of the choices that m you’re making, and the things y that you’re saying yes or no t to,” t he says. “It’s only when you separate yourself from it and observe yourself that you’ve got an opportunity to do something a bit differently.” Ensuring there’s an end-vision is particularly important for business owners, he adds. “What is it that you’re looking to achieve?” he asks. “If you can get connected with the outcome, then there’s always a next logical step.”
ARTS
Educating children on paramedic life A chaplain working with a paramedic from the South East Coast Ambulance Service has drawn on his experiences to create his own series of books. Tim Parsons says the Paramedic Chris books aim to educate children aged four to 10 on the ambulance service and life as a paramedic.
“The idea was born when I came home from my first-ever shift with a paramedic named Chris,” he says. “Chris had shared how his daughter had battled with cancer from a young age and had yo written a book wr herself based upon he health experiences. he I got thinking that yyou have Fireman Sam but nothing S
50 | firstvoice | october 2021-january 2022
49-51 Spotlight - member news_First Voice Oct-Jan 2022_First Voice.indd 50
for the ambulance service, and as a result the Paramedic Chris series was created.” To date, he has released three series, selling around 2,000 copies each, as well as an audio series, with more books in the pipeline. “The biggest challenge has been getting the series known and marketing it,” he says. “I am told this is a common issue for self-published authors. My
ultimate aim from the series is to one day have enough money to open a retreat centre for mental health.” The books can be purchased from timparsons.co.uk/store
firstvoice.fsb.org.uk
23/09/2021 11:39
member spotlight your news and insights
MARKETING
5 MINS WITH...
Reece Samani, Signature Pharmacy
Q
Tell us about your business Signature Pharmacy is an online medication delivery service, SignatureRx is a digital private prescription writing system, and The Locum App connects pharmacies with locum pharmacists.
Q
How did it get started? I started Signature Pharmacy a year after qualifying as a pharmacist, as I saw a gap in the market. The other two followed as solutions to issues I saw in the industry.
Q
How has it developed since then? It’s not always easy – and gets less easy with each new venture! But they are growing and have strong customer bases.
Q
What’s the best thing about working for yourself? It’s rewarding when you see people using something you have worked to develop.
Q
What’s the worst? There are days when you could do with someone to talk to or lean on.
Q
What advice do you have for people starting a new business? Overnight success is a myth. You need to love the business and put in the effort.
Q
How has FSB membership helped? The online support pages and legal documentation have proven useful, and winning an FSB award helped build trust during Signature Pharmacy’s infancy.
Q
Tell us something fun… I co-own a restaurant with my family. It’s a tough job having to check all the dishes before they’re put on the menu...
firstvoice.fsb.org.uk
49-51 Spotlight - member news_First Voice Oct-Jan 2022_First Voice.indd 51
Leaflet firm hits landmark figure A
NORTH-EAST LEAFLET MARKETING COMPANY THAT WAS SET UP DURING
the Covid-19 lockdown has hit the landmark of one million deliveries. Doug Stuart of Dor-2-Dor Aberdeen & Dundee already employs 40 people and delivers projects on behalf of customers from a broad spectrum of sectors, including retail, hospitality and politics. The franchised firm is on course to deliver between three and four million leaflets in its second year, and future plans include expanding into Aberdeenshire and Angus. “Leaflets remain a really cost-effective, targeted and powerful way of getting a message out,” says Doug. “We saw a rise in our customers winning business from them last year, as people responded to a physical and tactile method of communication which is strategic, precise and planned.”
MANUFACTURING
The key to longevity Specialist paint manufacturer Technical Paint Services is celebrating notching up 75 years of business. Set up by James Peacop in 1946, the company is today run by his son Robert, who has been with the firm since 1968. Robert puts its longevity down to a combination of knowing the market, staying abreast of changing customer requirements and providing a personalised service. “A smile and a joke often cut the ice and go a long way,” he says. He also warns against undervaluing your product. “It may be dearer, but make it better or quicker and easier to get hold of,” he says. “For me, price
matching and heavy discounting don’t work for the long-term health of your business.” At first, the firm specialised in developing paints for use in construction and road-building, but main markets today include sports surfaces, such as tennis or football courts, and industrial settings, such as factories. The business employs three fulltime and two part-time staff, with Chris Broomfield and Stephen Varley set to take on more of the managerial responsibilities in the coming years as Robert decreases his hours. Robert’s son Bob is also involved on the production side of the business. october 2021-january 2022 | firstvoice | 51
23/09/2021 11:39
member spotlight fsb awards
FSB AWARDS
Celebrating small business Entries are now open for the Celebrating Small Business Awards 2022, designed to recognise the achievements of the nation’s small firms HE FSB CELEBRATING Small Business Awards recognise and celebrate the huge contribution that smaller businesses and the self-employed make to the UK. The people, companies and families that own, run or work in smaller businesses are our innovators, our economic drivers and backbones of our communities. They embody the creativity and resilience that fuels UK prosperity. FSB’s Celebrating Small Business Awards is the largest event of its kind. On average, more than 8,000 small businesses register and enter. Our UK winners are all outstanding examples of successful and diverse small businesses. Our UK Final, the concluding event in our annual event programme, sees 132 finalists from 11 categories and 12 geographic finals come together to find out who will be the overall winner in each category, and who will be crowned the overall FSB Small Business of the Year. The UK Final will be held on Thursday 19 May at the Radisson Blu Hotel in Glasgow.
T
52 | firstvoice | october 2021-january 2022
52-53 Spotlight - awards_First Voice Oct-Jan 2022_First Voice.indd 52
A P P LY N O W
Regions and closing dates Entries for the Celebrating Small Business Awards are open now, so make sure you get your application in ahead of the deadline below:
1 Scotland (13 February) Regional final: Waldorf Astoria, Edinburgh (31 March)
1
2 5
2 Northern Ireland (27 February)
6 4
Regional final: Crowne Plaza, Belfast (13 April)
8
3 Wales (20 February) Regional final: St David’s Cardiff Hotel (8 April)
4 North West (23 January) Regional final: The Midland Hotel Manchester (11 March)
7 3
9 11
12
10
5 North East (30 January) Regional final: Newcastle Gateshead Marriott Hotel MetroCentre (21 March)
9 East of England (16 January)
6 Yorkshire & Humber (9 January)
Regional final: Newmarket Racecourse (4 March)
Regional final: The Principal Hotel, York (25 February)
10 South West (16 January)
7 West Midlands (30 January) Regional final: Forest of Arden Marriott Hotel and Country Club (17 March)
Regional final: Somerset Cricket Club, Taunton (2 March)
11 South East (6 February) Regional final: Hickstead International Showground, Haywards Heath (25 March)
8 East Midlands (20 February)
12 London (23 January)
Regional final: Leicester Marriott Hotel (6 April)
Regional final: The Royal Horseguards (8 March) firstvoice.fsb.org.uk
23/09/2021 12:26
member spotlight fsb awards
C AT E G O R I E S
JUDGES
Meet the judges
Award categories
The line-up of judges for the Celebrating Small Business Awards 2022 includes:
There are 12 categories in the FSB Celebrating Small Business Awards:
Becky Toal
Lesley Batchelor OBE
Managing Director, Crowberry Consulting Ltd Becky is a judge in the environmental/sustainability category. She established Crowberry Consulting Ltd in 2006 and has more than 20 years’ experience as an environmental and sustainability manager, having also worked for the Co-operative Group and English Nature. Trained as an environmental auditor, Becky is a chartered environmentalist and a full member of the Institute of Environmental Management; she holds degrees in environmental management (MBA), environmental impact assessment (MSc) and ecology (BSc). Becky is a lead auditor to ISO 14001, ISO 50001 and ISO 20121, and is a registered ethical auditor.
COO and Commercial Director at Open Borders Direct International judge Lesley Batchelor OBE is a champion of UK exporters, with a track record in enhancing the international performance of hundreds of businesses. From a blue-chip background, she worked as Director General of the Institute of Export for 12 years, promoting professionalism and the need for qualifications and support for businesses. She is also a past CEO of Open2Export. Lesley is often sought out for comment on Brexit and international trade issues, writing thought leadership pieces for many journals, TV and radio stations.
Stella Smith
A digital award judge, Olu Odeniyi is a cybersecurity, information security and digital transformation trusted advisor who has 30 years’ experience helping organisations maximise gain from technology solutions, including optimisation of business operations and processes. During this time, Olu has held a number of key senior leadership, strategic and operational positions, gaining awards for business innovation and exceeding objectives. Olu has run a technology company, pioneered peer business support via social media, and advised both small and larger companies on core strategy including cybersecurity, digital transformation and unified communications.
High Growth Business of The Year Self-employed/Sole Trader of The Year Family Business of The Year Start-Up Business of The Year Digital/e-commerce Business of The Year
Founder and CEO, pirkx
Olu Odeniyi FSB Board Director
Micro Business of The Year
A judge for the wellbeing award, in 2018 Stella founded pirkx, a disruptive force in the UK’s employee benefits industry that provides affordable wellbeing benefits for everyone, creating happier, healthier humans. She has board-level advisory expertise spanning alternative investments, technology, financial markets and services, together with private enterprise. Prior to founding pirkx, Stella was Chief Investment Officer at CWB Group, Senior Investment Director at alternative investment specialist Ingenious, and Director, Retail and Private Wealth, at HBOS Treasury. Stella joined HBOS from Lloyds TSB Financial Markets, and the majority of her early career was in private banking at C Hoare & Co.
firstvoice.fsb.org.uk
52-53 Spotlight - awards_First Voice Oct-Jan 2022_First Voice.indd 53
Wellbeing Award
Community Award
International Business of The Year Business and Product Innovation Award Young Entrepreneur of The Year Environmental/ Sustainability Business of The Year october 2021-january 2022 | firstvoice | 53
23/09/2021 12:27
member spotlight your services
SELF-ASSESSMENT
Taxing times With tax deadlines on the horizon, make completing your tax return less stressful with FSB Tax Investigation Protection’s top tips for filing your self-assessment
UNNING YOUR OWN BUSINESS means you get to do what you’re passionate about every day – but the thought of finances and filling out tax paperwork can be daunting. Don’t worry: if you’re new to self-employment or want to make the process less stressful, FSB Tax Investigation Protection is here to help.
R
Don’t miss the deadline The self-assessment tax return deadline is: 31 October following the end of the tax year for a paper return 31 January following the end of the tax year for an online return If you don’t meet the deadline, you may face a fine from HMRC – so don’t leave it until the last minute.
File online
You can start making your preparations and getting organised when the tax year has finished on 5 April. If you’ve been collecting everything you need as you go, you’ll save valuable time when it comes to filling in your tax return. Plus, if you do need to get in touch with HMRC, you’ll avoid the rush.
Gather all the paperwork and details that you will need ahead of time: Unique Taxpayer Reference (UTR) number National Insurance number Details of all your income, including rental income, bank/building society interest or dividend payments Records of relevant business expenses If you’re employed, you’ll need your P60.
Gather all the paperwork and details that you will need ahead of time
Registering to file online makes it easier to upload all the information that HMRC needs from you. If you’re busy, you don’t need to do it all in one go – simply save your form and fill it in when you have time.
From invoices to bank statements, keep accurate records of income and what you’ve claimed as business expenses throughout the tax year and make sure you declare everything. You can do this with a spreadsheet or online accounting software. Don’t forget that there are different rules if you run a limited company.
54-55 Spotlight - Services_First Voice Oct-Jan 2022_First Voice.indd 54
Start early
Get organised
Track your income and expenses as you go
54 | firstvoice | october 2021-january 2022
If you have other non-business sources of income or gains, these may need to be declared on your return, and you should have all the necessary records. You should keep records for six years, as HMRC can request them in the event of an enquiry.
Budget in advance Manage any surprises with your tax bill by budgeting in advance for what you anticipate your tax bill will be and getting ahead if you need to make any payments on account. Set aside a portion of your income every month for paying tax and National Insurance contributions.
Seek advice Lastly, it’s important to seek advice when completing your return to clarify any areas of doubt and to ensure that your submitted return is complete and correct. FSB Tax Investigation Protection provides advice, comprehensive support, and tax investigation insurance for most business-related HMRC enquiries, all at no extra cost. firstvoice.fsb.org.uk
23/09/2021 12:27
member spotlight your services
INSURANCE
BENEFITS
Saving the day Whitehaven business Summergrove Halls was shocked to receive a renewal quote that was 300 per cent higher than last year’s. Fortunately, FSB Insurance Service was able to help
FSB member benefits FSB members can access a wide range of marketleading services, including specialist advice, financial expertise and built-in insurance protection.
FSB Business Banking When Summergrove Halls’ insurance was due for renewal, the team at FSB Insurance Service was just a phone call away with a competitive quote and “heroic customer service”. “Our business insurance was up for renewal and we had been with the same insurer for many years, so we were shocked when our renewal quote was 300 per cent higher, despite no recent claims,” says Rob Rimmer, Director at Summergrove Halls. With the business “left in a very invidious position” and insurance just 72 hours from expiring, Rob contacted FSB Insurance Service, which stepped up to the challenge. “We have a pretty non-standard business – a hotel and offices for let with a diverse range of users – so the cover we needed was not off the shelf,” he says. “Anne Butler
from FSB Insurance Service was a hero and managed to massively improve on the quote. She beat our existing broker’s re-quote by 33 per cent and kept me constantly up to date to beat the deadline. “Anne sorted all the paperwork and ensured we were insured correctly and that our cover didn’t run out. FSB Insurance Service did a brilliant job in getting cover for us at such short notice. Getting insurance at a great price is important, but great customer service is important too!” he adds. “I would absolutely recommend FSB Insurance Service to other FSB members. We had a fantastic experience.” Such experiences are becoming more common. “A recent survey of FSB members showed that 75 per cent are experiencing price increases and one in four are seeing cover reduced,” says David Perry, Managing Director at FSB Insurance Service. “We’re here to help guide members through this difficult insurance market.” FSB Insurance Service is an award-winning full general insurance broking service with exclusive discounts, tailored support and a dedicated insurance advice line. FSB members can register with FSB Insurance Service for free.
firstvoice.fsb.org.uk
54-55 Spotlight - Services_First Voice Oct-Jan 2022_First Voice.indd 55
Free everyday banking services
FSB Care Dedicated nurse support for physical and mental health conditions
FSB Cyber Protection 24/7 cyber security guides, documents and insurance
FSB Debt Recovery 24/7 support, free template letters and discounted legal costs
FSB Employment Protection 24/7 HR advice, employment documents and tribunal insurance
FSB Funding Platform One simple application, impartial financial advice and 24/7 support
FSB Health and Safety Advice Expert advice, online documents and on-demand training
FSB Insurance Service Exclusive discounts, advice line and free business continuity planning kit
FSB Legal Hub 24/7 advice line and over 1,300 guides and documents
FSB Legal Protection Scheme Save thousands with legal expenses insurance at no extra cost
FSB Payments Discounted card payment processing solutions
FSB PR/Crisis Management PR advice, crisis communications support and insurance
FSB Tax Investigation Protection Support and insurance for certain business-related HMRC enquiries
FSB Workplace Pensions Discounted workplace pensions and payroll management packages Are you making the most of your membership? To learn more about each benefit, visit fsb.org.uk/benefits or call customer services on 0808 20 20 888 october 2021-january 2022 | firstvoice | 55
23/09/2021 12:28
020 3962 8009
FSB INSURANCE SERVICE'S CHECKLIST FOR WELCOMING YOUR CUSTOMERS BACK TO YOUR BUSINESS
Businesses are reopening as part of a gradual process to get ‘back to work’. Many SMEs are pleased, as the ¿nancial pressure of closing premises has been signi¿cant, but it’s important to ensure that businesses reopen safely and with the appropriate cover in place.
PRACTICAL CONSIDERATIONS ☐ Do your premises need a deep clean prior to reopening? ☐ Is there any debris or evidence of damage that needs fixing? ☐ Are your security systems still in operation? You may need to let your alarm receiving centre know you’re returning ☐ Is your fixed wiring system in good order? Have you had your electrics checked and are the inspection certificates up to date? ☐ Have you checked all your equipment is operating properly? ☐ Has potentially hazardous material been stored correctly? If not, does it need to be disposed of? ☐ You may want to get a pest control contractor in to check the premises for signs of infestation ☐ If you’re a food business, do you have any perishable stock that needs replacing?
HEALTH & SAFETY AND COMPLIANCE ☐ Revise your health and safety policies to include precautions to prevent the spread of coronavirus COVID-19. Note: HSE has released guidance for making your workplace COVID secure ☐ Review your fire risk assessment– is your fire alarm operating correctly? Are your fire extinguishers within date? Will all your fire wardens be on site when you reopen or do you need to reallocate these roles?
☐ If your business involves home visits, will you and your staff be adequately protected when entering customers’ homes? How can you minimise risk of infection? ☐ Any vehicles or high traffic areas should be regularly cleaned using gloves and standard cleaning products, with emphasis on handles and other high-touch surfaces.
INSURANCE CONSIDERATIONS ☐ Check your business insurance is back in place if you downgraded cover during lockdown ☐ Has your business model changed? Make sure your insurance covers any changes to how your business operates (deliveries, etc) ☐ Let your insurer know when you are back on the premises, so that they don’t mistakenly think you’re exceeding any unoccupancy clause in the policy wording In need of insurance advice? Call FSB Insurance Service on 020 3962 8009 Monday - Friday 9am - 5.30pm (excluding Bank Holidays)
REGISTER NOW AT WWW.FSB-INSURANCE-SERVICE.COM/REGISTER FSB Insurance Service Limited is authorised and regulated by the Financial Conduct Authority (FCA Registration No: 788654) Registered Office: 20 Fenchurch Street, London, United Kingdom, EC3M 3AZ. Company Number: 10831430.
FV.Oct21.067.indd 2
14/09/2021 15:02
member spotlight my business
Can you tell us a bit about your business? Action Pussycat is a family entertainer based in Weston-super-Mare. I provide birthday parties, cabaret entertainment, business promotions and events. I am a sole trader and have been operating since May 2001. Initially it was something I did at the weekends, but in March 2016 I left my jobs as an art teacher and marketing manager to go full-time and pursue my goals of selling my TV show, releasing a single and publishing a book. I also arrange family-friendly events. My concerts offer a live experience but with quieter music, daytime show times, local venues and smaller ticket prices.
When and why did you first set up the business? Action Pussycat was originally going to be an outdoor pursuit company. When I started offering birthday parties, I had also started coaching land yachting. I found that land yachting would have to be cancelled if it was too wet, too windy or not windy enough, but the parties could go ahead whatever the weather.
Photography: Alamy
How has it developed since then? I added different party package options, and new equipment helped me diversify. I started doing bigger events when the local authority stopped organising free family events in the parks. When I was offered redundancy money by my employer, I went full-time. Covid-19 hit hard, as I was no longer able to offer face-to-face entertainment. I put together an hour of virtual entertainment and was used by schools, organisations, firstvoice.fsb.org.uk k
57 Spotlight - My business_First Voice Oct-Jan 2022_First Voice.indd 57
do. Creating a children’s party around the idea that a child did not know who their father was because their mother was a free spirit when she was younger did not fit well!
What are you most proud of, from a business perspective? MY BUSINESS
Ade Bowen A weekend gig as a children’s entertainer led to Ade setting up Weston-super-Mare firm Action Pussycat charities, clubs, pubs and parents; in December 2020 I won a Lockdown Community Champion award for keeping children connected and mentally healthy.
Who else do you have working with you? I occasionally work with other providers – forest schools, a princess company, charities and local businesses.
Who do your main customers tend to be? Parents with children aged five to eight who want a memorable experience for their child’s special day.
What’s the most unusual situation or request you’ve had? I offer themed parties, but Mamma Mia! was one I was not able to
Being able to provide for my family by doing something I love is amazing.
How does your FSB membership help? When I joined, I was annoyed with my business bank. For just £20 more than what I was paying in bank charges, I could join FSB and access its support services. It gave me peace of mind that I had someone fighting my corner.
How would you like the business to evolve over the next few years? I would like to pick up more long-term contracts. If I could get a regular booking at a holiday park, tourist attraction or family pub to put regular money in the bank, that would be a godsend and free up mid-week time to develop my act.
And the longerterm plan? Ideally it would be for a production company to pick up my TV show. Find the pilot episode on YouTube by typing in Ade Venture.
What do you do to relax? I have two daughters, who I love spending time with. Over lockdown we have done a lot of walking and cycling, and in normal times we go to the cinema or play games. I also miss live entertainment such as stand-up comedy, live music, pub quizzes and the theatre. I am in a local drama group and do a bit of stand-up comedy. When I have time, I like to write and have almost finished my fourth children’s book. october 2021-january 2022 | firstvoice | 57
23/09/2021 13:00
TECHNOLOGY TO HELP YOUR BUSINESS
tech bits
2
GADGETS
All kitted out The latest must-have tech includes a Covid-19-configured laptop backpack, a brain-powered wellbeing hub and an app to reassure nervous travellers
RiutBag+
While no one doubts that PowerPoint is an exceedingly useful ul bu business tool, ol, varying levels in expertise among staff can slow down the process off putting t together a presentation. Free-to-download plugin BrightSlide has been created to help bring everyone up to speed, making creating and editing presentations as quick and easy as possible. Conceived with smaller businesses in mind, BrightSlide enables PowerPoint users to quickly align objects, save animation combinations and access advanced typography settings to deliver presentations smoothly and efficiently. Features include live paragraph and character spacing with real-time feedback; a ‘copy/match size/position’ function to place items of the exact same size at the same location on every slide; and the capability to save animations to a local library so they can be applied at any time during a presentation.
Rendering things Covid-19-free using some form of antibacterial agent has become so normal it’s becoming hard to remember a time when it wasn’t. To this end, business bag specialist Riut has just released the RiutBag+, an easy-to-clean 20-litre laptop backpack that combines an ultra-hygienic design with anti-theft features. Constructed from a combination of wipe-clean tarpaulin and PVC, it can hold laptops of up to 15 inches (plus storage for up to two tablets in a double-zipped compartment), and comes with a mask-holder and an attachment for a sanitiser bottle. The zip sits against the wearer’s back, deterring would-be thieves. Expect to pay around £129.
www.brightcarbon.com
www.riut.co.uk
BrightCarbon BrightSlide e
58 | firstvoice | october 2021-january 2022
58-59 Tech bits - Gadgets_First Voice Oct-Jan 2022_First Voice.indd 58
1
firstvoice.fsb.org.uk
23/09/2021 12:28
tech bits new kit and apps
3
SafeStep
MyndPlay ndPlay MyndHub ndHub MyndHub ub appears to have stepped straight out of science fiction and onto Kickstarter. This £350 system not only looks after a user’s mental wellbeing, but also enables them to learn to control a range of devices using the power of their brain. A headset uses three sensors to measure brainwave activity, which is transmitted wirelessly to a hub to which electrical or mechanical devices can be
connected, and then controlled controlled, connected by the power of thought. As well as training one’s mind to switch things like lights and kettles on or off, MyndHub provides users with visible data about their mental activity patterns, as well as feedback to help them focus, relax or even meditate. Pricing includes the hub and the headset. www.myndplay.com
Sanitiser Sentinel Even though the practice of hand sanitisation has become second nature to staff in workplaces across the world, anything that prompts employees to stay as safe as possible has potentially life-saving benefits. Sanitiser Sentinel uses a proximity sensor to trigger spoken and visual reminders to encourage people to wash or sanitise their hands whenever they walk past the machine. Already installed in a number of NHS sites and private practices in the UK, the technology is placed above soap or hand-sanitiser dispensers, and uses flashing lights and up to 26 selectable messages – in up to 20 different languages – to help keep staff safe. Final pricing for the Sentinel has yet to be set, but a guideline of £50 plus VAT has been suggested. www.sanitisersentinel.com firstvoice.fsb.org.uk
58-59 Tech bits - Gadgets_First Voice Oct-Jan 2022_First Voice.indd 59
4
After 18 months of avoiding travel, workers may be unused to going out alone. To ease the minds of anxious travellers, developer Ska Train has launched SafeStep. Users switch on the app at the start of their trip, and if they fail to reach their destination within an allotted timeframe, a designated colleague, family member or friend will receive a text and a link with the sender’s location. Available on Apple and Android for £2 per month. safestep-app.co.uk
Companion The pandemic has made it difficult for small businesses to monitor and help with employees’ wellbeing, as many try to stay afloat with their workforce at home. Companion provides a way to support employees who are experiencing mental health issues. Based on cognitive behavioural therapy, the app reduces stress and anxiety via tools, guides and interactive exercises. Included in the NHS Apps Library, it is initially available to businesses as a free seven-day trial. Following that, it’s £99 per month per team. companionapproach.com
PiPoffice PiPoffice is a business phone system with an app optimised for personal mobiles. Staff can work from any location with access to everything they’d expect from a desk phone system, including call recording, conference calling, and call monitoring and logging. It comes with a direct dial-in business number, ensures best available call quality, and can distinguish between business and personal calls. Available on iOS and Android, and compatible with Teams, Salesforce, Dynamics 365, Bullhorn and Zoho, it starts at £12 per user per month. pipcall.com october 2021-january 2022 | firstvoice | 59
23/09/2021 12:28
BEST OF FIRST VOICE FROM THE WEB AND SOCIALS
digital voice ONLINE
First for knowledge
TOP TIPS
Five tips on taking great photos for social media N TODAY’S WORLD, HAVING eye-catching visual content is one of the most important parts of small business marketing, and it is certainly the most vital aspect of social media marketing. The benefits of having strong imagery on social media that complements your brand’s story are undeniable. However, for many small business owners, creating compelling visual content for your business can be a daunting task. Have you ever looked at another business’s Instagram feed and suddenly felt as though your images just don’t compare? Here are five tips to level up your photo game…
I
1
ADD TO THE STORY: Make sure that your image is in line with the story you’re trying to tell. Images shouldn’t just be used to fill up space,
but instead encompass the core values of your business and your messaging.
2
WATCH YOUR LIGHTING: When taking photos, lighting is your best friend. Try to make use of natural light to really make your images pop and give them a warmer feel.
The First Voice website is packed full of practical advice and tips to help you grow your business. Here are just some of the articles that have been grabbing your attention recently Develop a business growth mindset bit.ly/3k6jfIB
Understanding pre-pack administration changes bit.ly/3npOZKM
3
EDIT, BUT DON’T GO OVERBOARD: Aim to enhance your photos with some simple editing to highlight the key subject of the image or improve lighting. You can use your phone’s own basic editing software, or use Photoshop or Lightroom if you have access to these.
4
KEEP THEM NATURAL: We’ve all seen those cringe-worthy staged photos online that some people use... Don’t recreate those shots! Instead focus on getting natural photos, whether it’s of your staff, customers or your products and services in action.
5
USE THE RULE OF THIRDS: When taking pictures, our natural instinct is to centre the subject perfectly – but the rule (or guideline) of thirds suggests that putting your subject in the left or right of the frame allows for a much more compelling image.
60 | firstvoice | october 2021-january 2022
60-61 Tech bits - digital voice_First Voice Oct-Jan 2022_First Voice.indd 60
How to start a conversation about mental health bit.ly/3tG0Vt4
Get set to sell online bit.ly/3C7gVHw
How to respond to a potential buyer for your business bit.ly/2XgrGrT Find more at firstvoice.fsb.org.uk
Knowledge centre To see more webinars, podcasts and other interactive media, scan the QR code
firstvoice.fsb.org.uk
24/09/2021 09:10
tech bits
10K
digital voice
FOLLO ON TW WERS ITTER Thank you
us if n
WEBINAR
! Fo ot alre llow ady...
Cybersecurity for your small business in the post-Covid-19 world This webinar explored the importance of reviewing your cybersecurity to protect your business from new and emerging threats in a post-Covid-19 world. The webinar also covers how this can be an enabler for evolving your business to meet new employee and customer expectations, from ensuring staff can work safely from home to making sure that your customers can receive your goods and services remotely without them or your business being compromised. bit.ly/fvcyberwebinar
EVENT
The Small Business Tech Summit 2021
VIDEO PODCAST
Women entrepreneurs share their best advice The challenges women in business face; the importance of getting the best technology advice; and – most importantly – why women entrepreneurs should celebrate their success bit.ly/DDTComp
Through seven quickfire sessions, the inaugural free Small Business Tech Summit, brought to you by First Voice and Dell Technologies, will bring together a host of expert speakers to explore how technology can help small businesses meet the challenges of today and seize the opportunities of tomorrow. Register: bit.ly/FVTechSummit
What the National Insurance increase really means for small businesses This episode sets out what the government’s National Insurance hike of 1.25 per cent means for you and your small business – and the steps you can take to understand the impact it will have on your future plans. bit.ly/FVPodcast8
firstvoice.fsb.org.uk
60-61 Tech bits - digital voice_First Voice Oct-Jan 2022_First Voice.indd 61
october 2021-january 2022 | firstvoice | 61
24/09/2021 09:10
STUFF TO DO IN YOUR SPARE TIME
out of office I C O U L D T R Y. . .
Fencing If you’re seeking a new sport to challenge both body and mind, and help you indulge a few musketeer fantasies, fencing could just the ticket, says William Ham Bevan ONTRARY TO THE SLASH-BANG swordplay seen in Hollywood epics, fencing is all about timing, tactics and strategy. Indeed, former British champion Jon Willis – Director of Salle Paul, a club based in the purpose-built Leon Paul Fencing Centre in north-west London – calls it “physical chess”. He says: “Being athletic, fast and fit is obviously an advantage, but it’s not the be-all and end-all. It’s a skill sport: you can pick it up in your 40s and go on to beat fencers in their teens if you’re more skilful than they are.” There are three weapons – foil, épée and sabre – each requiring a different style of fencing. With the light, springy foil, only hits to the torso are valid. The heavier épée, descended from the duelling sword, makes the whole body a valid target area. On foil and épée, hits can only be made with the point of the blade, but the sabre is a cutting weapon that can also score with its edge, on any part of your opponent’s body from the waist up. To further complicate matters, the foil and sabre have ‘right of way’ rules preventing simultaneous hits: a hangover from duelling, when attacking into an opponent’s attack could result in both fighters getting a skewering. In basic terms, whoever first
C
62 | firstvoice | october 2021-january 2022
62-65 Out of office_First Voice Oct-Jan 2022_First Voice.indd 62
firstvoice.fsb.org.uk
23/09/2021 12:31
out of office i could try...
initiates a successful attack will win the point, and you must parry an opponent’s move before launching your own riposte. No such rules apply in épée fencing, where the objective is simply to hit your opponent without being hit yourself.
Where can you do it? There are fencing clubs in every part of the country, and most run taster sessions or courses for total beginners. British Fencing, the sport’s governing body within the UK, has an ‘activity finder’ section on its website that can direct you to clubs in your area (britishfencing.com). Almost all fencers begin on the foil. It’s considered the best for learning the discipline and the basic techniques that will stand you in good stead on all three weapons, such as posture, footwork and point control. Given the presence of steel swords, fencing is a surprisingly safe pastime. A recent ranking of injuries in Olympic sports placed it 42nd out of 51, below badminton, table tennis and even curling. Mr Willis adds: “I’ve heard it said that it’s statistically safer than crown green bowls, although that would be for different reasons. “You’re wearing a double-layer of clothing that’s certified not to break, even under a very high force: the international standard is 800 newtons. And the swords aren’t the sort of thing you’d go out and stab someone with. They’re pieces of sophisticated sporting equipment, designed not to break.”
How do you get started? On a beginner’s course, you’ll be provided with all the kit you need: a weapon, a glove, a mask to protect the face and neck, and that all-important protective clothing. This comprises a jacket, a plastron (protecting the upper torso and sword arm), a chest protector for women, and breeches. If you take to the sport, you’ll start one-on-one fencing with electronic scoring equipment. This requires special weapons that connect to a body wire, and from there to a cable reel at each end of the narrow ‘piste’ where combat takes place. For foil or sabre, you’ll also need to wear a conductive lamé firstvoice.fsb.org.uk
62-65 Out of office_First Voice Oct-Jan 2022_First Voice.indd 63
jacket over your protective gear, so that only hits to the valid target area are registered.
What are the benefits? Fencing provides an excellent all-round workout: after their first few sessions, beginners often report aches in muscle groups they never knew they possessed. “It’s good for endurance, but also for movement, explosive power and strength,” says Mr Willis. “And the more you do it, the more you improve your coordination.” A side benefit is the social aspect. Most clubs arrange activities away from the piste, and will probably have a favoured hostelry for drinks after an evening of combat.
There are three weapons – foil, épée and sabre – each requiring a different style of fencing What does it cost? At Salle Paul, a four-week adult beginner’s course is £120, including a mask and glove that you can keep (sallepaul.co.uk). Most clubs will expect you to invest in your own equipment if you want to carry on fencing after your beginners’ course has concluded; some are happy to keep on lending you the kit if you take a follow-up intermediates’ course, or will give you a few months’ grace. A foil starter kit with everything you need to compete at club or competition level, including mask, clothing, lamé, body wire and electric foil, can be bought for £560 from Leon Paul (leonpaul.com). Other suppliers include Allstar Uhlmann (allstaruhlmann.com), PBT UK (pbt-uk.com), Sword Price Fighters (swordpricefighters.com) and Excalibur Sports (excalibursports.co.uk). october 2021-january 2022 | firstvoice | 63
23/09/2021 12:31
out of office downtime
TEAM BUILDING
Can you dig it? For a team-building day that helps the environment and supports local communities, you’ll need to put in the spadework. Here are some charities offering hands-on experiences
Photography: © Catherine Bullen (rspb-images.com)
RSPB Conservation charity RSPB relies on volunteers to maintain its reserves. Mike Harris, Corporate Partnerships Officer for England, says: “We have 31 sites in England for corporate volunteering, plus some in Scotland, Wales and Northern Ireland.” The focus is on practical work, such as creating paths and planting wildlife gardens. Mr Harris says: “We normally take groups of six or more – we have taken fewer, but need to charge our minimum fee for six. This covers staff time, materials, equipment, PPE and insurance, plus a small surplus to help improve habitats.” See rspb.org.uk. Minimum group size:
ideally 6. Guide price: £60+VAT per person. Enquiries: corporate. partnerships@rspb.org.uk, 01767 680551
The Conservation Volunteers TCV’s activities include planting trees, clearing routes and creating gardens. Douglas Palarm, Head of Partnerships and Fundraising, says: “In a normal year we could have up to 8,000 employees volunteering, and 98 per cent would recommend it to a colleague.” The work helps build morale and local connections. Mr Palarm says: “Volunteers are not only supporting projects where they live and work. They’re also mitigating
climate change, improving biodiversity and combating isolation.” See tcv.org.uk. Minimum group size: ideally 10. Guide price: £50+VAT per person. Enquiries: corporate-enquiries@ tcv.org.uk, 01302 388883
Trees for Cities Trees for Cities plants saplings, oversees maintenance work on urban green spaces, and runs ‘Edible Playground’ schemes that turn schoolyards into market gardens. Corporate Partnerships Director Rory Field says: “We can provide volunteering anywhere in the UK. We do most of our conservation outside tree-planting season,
SPEND IT
Boxes of delights Subscription boxes are gifts that keep on giving. From fresh flowers to well-thumbed books, here are five monthly treats worth a click:
1
A vase array
With a Bloom & Wild subscription, you’ll receive fresh flowers through your letterbox each month. The Seasonal Blooms collection changes through the year, promising ‘heady flowers and special stems’ to suit every season. You can make up your own bouquet, or leave their
florists to put together a sweet-smelling surprise. Seasonal blooms subscription, £25 every 28 days (bloomandwild.com)
2 Hop round the world Beer 52 bills itself as a craft beer discovery club. The premise is simple: a different country is featured each month,
64 | firstvoice | october 2021-january 2022
62-65 Out of office_First Voice Oct-Jan 2022_First Voice.indd 64
from which you’ll receive a beer selection, magazine and snack. You can choose a mixed case or one containing light beers only, and you’ll never drink the same brew twice. Beer 52 subscription, from £24 for eight beers every 28 days (beer52.com)
3 A second look
There’s no shortage of book subscriptions for readers, covering everything from women’s writing and sci-fi to spy fiction. The Hand Me Down Book Club is different, giving pre-owned
books a new life rather than a trip to landfill. You’ll receive a specially picked box of fiction titles each month, based on your reading preferences. Hand Me Down Book Club subscription, from £9.99 a month for two books (hmdbookclub.co.uk)
4 Say cheese
Join the unimprovably named Pong Cheese Club, and one Thursday a month will never smell the same again. Expect four fine cheeses, delivered with ice-gel packs to ensure freshness. You can tick ‘no goat’s cheese’, ‘no firstvoice.fsb.org.uk
23/09/2021 12:32
out of office downtime
although we’re doing it year round in some form. The playgrounds scheme is more sporadic, as we’re dependent on when schools can let us host groups. But there’s always work to be done!” See treesforcities.org. Minimum group size: 15. Guide price: £50+VAT per person. Enquiries: corporate@treesforcities.org, 020 7840 5950
Wildfowl & Wetlands Trust WWT is dedicated to preserving wetlands, and has found that keeping groups small is best. Corporate Partnerships Manager Georgie Cox says: “In summer and autumn, we’d cap group numbers to 15. In winter and spring, we can raise that to 20. It may be clearing vegetation, fence work – whatever needs doing at the time.” A typical day includes a talk about WWT, a chance to explore the reserve, and conservation. “Groups love mixing with colleagues in a new environment,” says Ms Cox. “Many are surprised at how much of a difference their work makes.” See wwt.org.uk. Minimum group size: 8. Guide price: from £35+VAT to £62+VAT per person. Enquiries: corporateenquiries@wwt.org.uk, 01453 891191
blue’ or vegetarian options, and there’s a premium service with extra titbits for true aficionados. Pong Cheese Club, from £22 a month (pongcheese.co.uk)
5 Change of zine
Stack could be described as reader’s roulette. Each month, the company scours the world’s best independent magazines, picks one issue and delivers it to your door. You never know what’s coming next: recent selections have included Hamam, on global bathing culture, and the eclectic Paris arts magazine Matto. Stack magazine subscription, from £70 per year (stackmagazines.com)
firstvoice.fsb.org.uk
62-65 Out of office_First Voice Oct-Jan 2022_First Voice.indd 65
INVEST IT
DO THE LOCOMOTION Transport memorabilia’s appeal ‘Bus & Coach Stop’ may be tricky to comprehend if enamel flags you’re stuck at a red signal. But Almost anything featuring according to Michael Wickham the London Transport – Director of Transport Auctions roundel is collectable, such of London, specialising in rail, as this pair of rare 1940s/50s bus, tram and London signs in top condition. Underground collectables – it’s Closing bid: £750 popular as a décor addition. He says: “Our buyers split into Great Western three categories. First, you have Railway transport enthusiasts looking to trespass notice complete their collections. Then An unrestored castthere are professionals: people iron sign from the seeking film props or something to original GWR of 18331948, laying down the furnish a pub or restaurant, or railway by-law in both dealers selling to businesses who Welsh and English. want something for a boardroom. Closing bid: £250 “The third group is the public. They’re looking for something London interesting to take home – an Underground enamel sign that looks good on the pocket maps, wall, or a design classic like the 1971-1987 Harry Beck Tube map. The The original 1933 Tube Underground has huge interest map may be most from non-enthusiasts. First coveted, but this bundle editions of the Beck map in good of 63 later maps fetched condition can go for £1,500.” £300 over its estimate at Locations can make a huge auction. Closing bid: £450 difference to desirability. While many covet Oxford Circus, Baker Enamel sign, ‘Bill Street or Edinburgh Waverley Stickers will be signs, memorabilia from prosecuted’ suburban stations and forgotten A notice often seen on branch lines tend to sell only to London Transport property transport buffs. in the 1960s (sometimes Rarity and condition also annotated with “Bill Stickers is impact price. “You’ll see good innocent”). Closing bid: £300 examples of almost everything,” says Mr Wickham. “And something from an Underground platform can be in mint condition even if it was up Southdown female for decades, as it’ll never have been bus conductor’s exposed to the weather.” uniform Forgeries are not a major problem A classic clippy’s uniform with enamel items, but cast-iron is (cap, jacket and trousers) easily remade. It’s essential to deal from Southdown Motor with a reputable dealer. Services, which once served Sussex and Hampshire. Here are five lots sold by Closing bid: £90 Transport Auctions of London in July 2021: october 2021-january 2022 | firstvoice | 65
24/09/2021 09:11
last word guy browning
a small business A family affair Family businesses are unique arrangements that can just as easily go wrong as right. The trick is to work out how you will resolve any issues before you all fall out OU’D THINK ALL FAMILY businesses are pretty similar, but they’re not. They’re as different as families themselves, and just as tricky to manage. Some are like beautiful loving partnerships where everyone co-operates nicely and is treated well. Others are like the mafia. When you work with your family, you can’t go home and have a good whinge about your co-workers, principally because they’re already at home and equally ready to whinge about you. That’s why it’s vital to have some kind of pressure-release mechanism when things get heated. You can go and talk to the HR department, which in small family businesses is often the dog. If your dog is being walked more than four times a day, there’s likely to be a problem in the business. Telling your partner they need to learn to stack the dishwasher doesn’t normally go down well. How do you tell the same person at work that they need training on something equally basic? Giving them a formal appraisal doesn’t work at home, and won’t work at work. Ideally, you’ll have an experienced business mentor to tell everyone what’s
Y
66 | firstvoice | october 2021-january 2022
66 Last word - Guy Browning_First Voice Oct-Jan 2022_First Voice.indd 66
required, so get one early while you’re all still getting along. When it comes to technology, you’re probably best just talking to your children. If you don’t get advice from anyone about anything, you’ll end up talking to the receiver appointed to wind up your business. Every family has a black sheep. Normally, they’re the ones who set up the business in the first place – but what happens when all the other family sheep want to join in? People who think they should be part of the family business just because they’re part of the family are a danger. If you bring them onboard, it will make finding other talented individuals more challenging, because outsiders will think that not being one of the family will count against them.
If your dog is being walked more than four times a day, there’s likely to be a problem
Roughly one in three family businesses are handed on to the next generation. There are lots of reasons to go into the family business. The best – and worst – is that it’s all there for you on a plate. Family businesses work best when members of the next generation learn outside the business and bring their knowledge back in. It also means other people will pay for their learning opportunities (mistakes). Trust is essential. If you don’t have it in the family, you won’t have it in the business. If you’re thinking of going into business with someone related to you, a business ‘pre-nup’ is essential. Who has the remote control on the sofa at home is a big issue, and it’s the same in a business. You have to be clear who controls what, otherwise you’ll end up on two different channels in two separate rooms. Successful family businesses generally have three things going for them: they have a sound idea for a business, they work hard and, most importantly, they plan ahead. It’s like inheritance tax; if you don’t want to pay it, plan ahead to reduce it. If you don’t want problems in your family business, talk them through before they arrive. As in any family, as long as you’re talking things through honestly, you’ll work it out. Remember, that’s talking things through with your actual family, not the dog. GUY BROWNING runs the design agency Smokehouse. smokehouse.co.uk firstvoice.fsb.org.uk
23/09/2021 12:33
Funding Platform
How property finance can help your business grow F rom checking your agreements to adding up the costs, finance experts from FSB Funding Platform (fsbfundingplatform.co.uk) share the key things you need to know about property finance and buying business premises.
What should you consider when buying business premises or commercial investments? Owning your own premises can be a great way of growing your business. With a commercial mortgage you can benefit from any increase in the value of the property, and you don’t have the constraints that can be associated with renting. However, remember that you’ll be taking on some additional risk and responsibility when owning a property. If you rent your premises, you can move quickly and easily, but you are vulnerable if your landlord decides to sell the property.
Buy-to-let and holiday lets With the recent boom in staycations, and the stamp duty holiday extended until 30 September 2021, the popularity of buying a property for holiday lets has grown during the COVID-19 pandemic. Whether you are buying a single property or adding to an existing property portfolio, the opportunities to arrange competitive finance options are growing. firstvoice.fsb.org.uk
FSB Advertorial_First Voice Oct-Jan 2022_First Voice.indd 67
How to find the right property for your business
Choose the location carefully Pay as much attention to the location of your commercial premises or investment properties as you would when buying your own home. Will the location work positively for you, your staff and, of course, your customers?
Rent or buy? The costs of buying a commercial property, particularly with a mortgage, will likely exceed the cost of renting the same property. A deposit will be needed to secure a loan, and remember to budget for ongoing maintenance and running costs. Some of these costs, particularly with holiday lets, can be tax-deductible. You should confirm the availability of these with an appropriate expert. Keep flexibility in mind If all goes well, your business is likely to expand and change during the time you own the property. Make sure you choose a commercial premises that can be adapted as your business grows. Sub-letting You should consider retaining the option of sub-letting part of your premises. This can be an excellent way of raising additional income. Do make sure your loan provider allows sub-letting as part of your loan agreement.
Alongside your loan interest costs, there are other fees to consider when arranging a loan. Make sure you include these in your budgets. Arrangement fees – These normally come in at 0.75% to 2.5% of the overall value. This could also include a commitment fee on acceptance of the mortgage offer. Valuation fee – Lenders will engage an independent valuer to conduct their own assessment of the property as a condition of an offer, so be sure to ask if this applies. Legal fees – Commercial mortgages are often more complex than residential, so the legal fees tend to be higher. In addition to your own fees, there may be some costs you need to cover for the lender. Find out how this works upfront to get a clear picture of total costs.
If you are planning to take your business to the next level, the FSB Funding Platform (fsbfundingplatform.co.uk) uses technology coupled with friendly advice. Whether you’re buying a business premises or making a residential or commercial investment, we can help. APPLY NOW https://app.finpoint.co.uk/ partners/FSB-Funding-Platform
october 2021-january 2022 | firstvoice | 67
23/09/2021 12:34
FV.Oct21.068.indd 2
14/09/2021 15:01