My first job – Nancy Thomson 2 Raise a glass to the Ale Trail to save pubs 3 Unemployment figures continue to fall 6 How to futureproof your business 8
Aug 2013
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Engineering firm’s vision Vision Engineering currently employs 120 people from its premises in Send and Woking but this could increase if plans to create a global headquarters and manufacturing centre are approved ... and that can only be a good thing, says Surrey Chambers of Commerce NEW jobs could arrive in Send if an engineering firm’s bid for a new headquarters is given the goahead. As many as 30 jobs could be created if Vision Engineering’s plans for the new facility at its Send Road base are approved by Guildford Borough Council, after they were submitted in July. The new building, which will include a housing development and manufacturing facility, would replace the firm's current Send headquarters. Vision currently employs 120 staff at its Send and Woking facilities and hopes to add to that number if proposals are granted. Mark Curtis, managing director of Vision, reassured those who might have any worries about the expansion. He said: “As long-term residents of Send, we get on very well with our neighbours, but are sensitive to their concerns about that part of our factory plans which is in the Green Belt. We have, together with our architects, tried to minimise the impact on the surrounding area. We are confident that we can get that balance right and provide more well paid, long-term jobs for local people. “The existing factory was built in the 1960’s and 70’s. “We are trying to create a modern global headquarters and manufacturing facility which will enable us to continue to flourish in
Top, Vision Engineering explains its plans and, above, an artist’s impression.
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Send, providing well paid, skilled and stable jobs for the next 50 years. In order to be competitive with our Japanese, American, Chinese and German competition, we need to have a modern facility so that we can use the latest and most efficient manufacturing principles.” Vision held a recent open day to discuss its proposals with around 100 Send residents, as well as representatives from local
‘We are trying to create a modern global headquarters and manufacturing facility that will enable us to continue to flourish in Send.’ councils. The firm said the open day was well attended and Mr Curtis believes the event created a good forum. “It was great to see so many Send residents engaging in the planning application process,” he added. “We got some really good feedback and ideas, which we will now incorporate into our plans. “We have listened very carefully to the good advice we received from county, borough and parish councillors. “We have incorporated the latest green building processes, existing mature tree screening and
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affordable housing into our plans.” A spokesman for Vision explained the firm sees it as important to recruit local people, and pointed out that many current employees live in Send and the surrounding area. The spokesman said the proposals would be ‘very beneficial’ for the area. Vision has been based in Send and Woking since 1958 and supplies quality control equipment to global manufacturers of mobile phones, medical devices and performance engines. As much as 89% of product manufactured onsite is exported to both developed and developing economies. Louise Punter, chief executive of Surrey Chambers of Commerce, underlined the importance of the firm’s role in the wider Surrey economy. “I think this is exciting,” she said. “It is the sort of expansion we should be supporting and encouraging in the area. For us, as the Chambers and our vision for the economy going forward, we are totally in support of the planning application. We have a need to create jobs, there is still unemployment. Creating 30 new jobs has got to be positive. It is likely to have a tremendously positive effect on the local area.” Guildford Borough Council will now consider the application, which will be subject to a public consultation.
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August 2013
Raise a glass to the Ale Trail to save our pubs ‘Use them or lose them’, is the message from CAMRA in a bid to save Surrey and Hampshire’s historic pubs By Tim Harris
tim.harris@trinitymirror.com A NEW ale trail launched in Surrey could act as a lifesaver for pubs in the county during a difficult economic time for the trade. The recession has taken its toll on the pub trade in the last few years and even now around 20 pubs are closing every week across the UK. The Surrey and Hampshire Borders branch of the Campaign for Real Ale (CAMRA) has launched its Pub Trail 2013, which will be used throughout the summer to encourage more people to support pubs in local towns and villages. Paul Cowper, chairman of the CAMRA branch, hopes the ale trail will act as a boost for local pubs in the uncertain economic climate. “These days we need to
encourage people to get out and use their pubs as much as possible,” he said. “Rather than people going to the supermarkets to buy some bottles, they should go out and try
Paul Cowper.
the real thing in the pubs. If you do not use the pubs you are likely to lose them.” Mr Cowper said there are around 520 pubs in this CAMRA area, and 10 have closed in the last five years. He continued: “It is very worrying to see that. “It is important to help pubs in Surrey because there are a lot of villages. “There may only be one pub per village – so if you lose that pub you are losing a huge community facility. “To lose a pub is very detrimental to the whole social and economic stability of the area.” The CAMRA trail features 24 pubs across the Surrey and Hampshire border area and participants are invited to visit each one, where they can sample a pint of locally brewed beer and collect a stamp or sticker.
3
WINDLESHAM • Half Moon • Mr Bumble
Golden Pot •
• Crown (Knaphill) • Crown (Horsell)
SURREY
CAMBERLEY • RSVP
FLEET
Falkners Arms • Prince Arthur • The Tweseldown (Ch.Crookham) •
FARNBOROUGH • Prince of Wales
GUILDFORD
• Jolly Farmer (Bramley) • The Parrott (Shalford)
TONGHAM
ALDERSHOT
• White Hart
White Lion •
HANTS
WOKING • Herbert Wells
BLACKWATER
EVERSLEY
MILFORD
FARNHAM
• Refectory
• Bat & Ball (Boundstone) • Jolly Sailor • Nelson Arms
HAMBLEDON • Merry Harriers
TILFORD
• Duke of Cambridge
CHURT
Crossways •
The first 50 fully completed trails will receive a limited edition T-shirt and anyone who visits at least 12 pubs will be entered into a prize draw. The trail was launched at Wetherspoon’s The Herbert Wells, in Woking, in July. Other Surrey pubs included in the trail are The Parrott, in Shalford, The Jolly Farmer, in Bramley, The Refectory, in
CHIDDINGFOLD • Swan Inn • Mulberry Inn
Milford, The Duke of Cambridge in Tilford, The Swan Inn and The Mulberry Inn, in Chiddingfold, The Crossways Inn, in Churt and The Crown of which there is one in both Knaphill and Horsell. “I think the ale trail will certainly help stimulate some fast growth for the pubs,” added Mr Cowper. “All pubs on the trail will serve local ales at least 80% of the time, which are kept in good condition.
“Pubs and the beer industry need all the support we can give them. The idea behind the trail is to support our community pubs and local breweries. “We want to help give these places the edge over supermarkets and off-licences selling low-cost, mass market lagers, at a time when, despite the recent freeze in beer duty, many pubs are struggling for custom.”
A royal seal of approval for firms FOUR Surrey firms have been recognised with a royal award for their success in international trade. The quartet of Surrey exporters gathered in London in July to celebrate their Queen’s Awards, at an event organised by UK Trade & Investment (UKTI). The ceremony was held at The Farmers Club, in Whitehall, London, and was attended by minister for Trade & Investment Lord Stephen Green and UKTI South East director Lewis Scott. The Surrey firms were given Queen’s Awards for International Trade or Innovation 2013, marking their achievement in business. The recipients were Hewson Consulting Engineers, from Guildford, Dorking firm G3Baxi Partnership, Explorations Partners International, from Cobham, and Woking-based McLaren Electronic Systems. Lord Green, said: “This event highlighted some of the best
Charles Nockold, Paragon Software Systems, Chaplain Ted Bellingham and Cllr Hazel Watson at My Time.
Paragon support for My Time The winners of the Queen’s Awards, above. Picture: Zute Lightfoot. Below, Lord Lieutenant of Surrey Dame Sarah Goad presents the award to Hewson Consulting.
exporters in Surrey to me and demonstrated the entrepreneurial spirit that exists in the area. “Boosting our export performance is vital if we are to secure long term, sustainable economic growth. These Queen’s Award winners demonstrate the strength of exporters in the area and the positive impact exporting can have on their company. We are committed to helping businesses of all sizes in Surrey and across the country take their goods and services to overseas markets.” Mr Scott added: “Winning business overseas is vital for our future growth. These companies who have won the Queen’s Award provide a tremendous example for other local businesses to follow. “The South East is the biggest exporting region in the UK and, as such, plays a vital role to the economy.”
A COMPANY from Dorking has put its backing behind a new children’s charity which promotes friendship. IT firm Paragon, in High Street, has announced it will sponsor new Dorking charity My Time, which supports young people aged between eight and 12 years old. The charity is run by the United Reformed Church in the town. Kirsty Heard, from Paragon, coruns arts and crafts sessions for the charity, and said: “The children love their arts and crafts sessions. “Many have established friendships through the activities and they look forward to seeing each other. They take great pride in their handiwork and are constantly making things for their parents and siblings. “It is great to see them interact and relax with others who
understand what they have to do at home in a welcoming, stress free environment. “I am pleased to use my free time in this way and it’s gratifying that Paragon supports the work of the charity.” My Time offers respite activities for children and young people in Surrey and the surrounding areas whose lives are adversely affected by the disability or ill health of other family members. The Dorking branch was opened in February this year. “My Time provides an essential service for these young children who have to cope with additional pressures of looking after parents or siblings,” added Charles Nockold, marketing and business development director at Paragon. “We are pleased to be able support Kirsty and the My Time team in their extremely worthwhile efforts.”
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August 2013
How did one woman’s infatuation with beachwear lead to Bikini Fling? As females around the country consider what to wear on the beach this summer, Rebecca Younger meets a Surrey businesswoman who has taken the decision to make the daunting choice more easy than it used to be IT is finally summer and that means, for women, the dreaded search for that perfect bikini is on. Fed up with her friends complaining about not being able to find a bikini that fitted for their annual holiday, one Surrey woman decided she would create a business to help. Alexia Pinchbeck, from Chiddingfold, set up the online business Bikini Fling (www.bikinifling.com) last year in a bid to provide a range of bikinis to help women feel more body-confident on the beach. The 31-year-old took inspiration from the coastal resorts of Brazil, where she lived for a number of years while growing up. “Brazilian women have a completely different attitude to wearing a bikini on the beach,” she said. “They always look really confident and that they’re really enjoying their bodies. “The bikinis are gobsmackingly small – you couldn’t get away with that in the UK – but their attitude is something it would be nice to see more of here.” The more girls Alexia talked to and the more research she did, she began to realise that not many women felt confident in a bikini and that was mainly down to the fact they could not find one to flatter their body shape. With the business idea already in her mind, Alexia came up with the name for her company after a midnight skinny dip on holiday
Alexia Pinchbeck.
with a friend. “I’d made a list of 30 things to do before I was 30 and I was trying to work my way through the list,” she said. “The whole concept of doing something outrageous and getting outside of your comfort zone in order to grow as a person really resonated with what I wanted the brand to convey.” The range of bikinis Alexia offers combines cuts and styles for all different body shapes and sizes
while styles and colours can be mixed and matched to create a completely bespoke bikini. “Not many women are the same dress size on top as they are on bottom and everyone I spoke to said they struggled to find a bikini that fitted both,” explained Alexia, who offers more than 200 possibilities within her mix and match range. “I think the fabric is really important to help with support and then in turn, that helps with confidence. We use Italian Jersey, which is soft yet really strong so it holds you in all the right places.” The current collection is called Romantic Fling and was influenced by the garden at Alexia’s parent’s Surrey home. Another strong influence for Alexia were the friends who helped with her research and initial concept for the business, and so she decided to name each of the styles after them, along with other women who have inspired her. She said: “They are named after women I find interesting – there are lots of fabulous women out there and so I haven’t run out of names yet.” Alexia, who offers a bespoke fitting service, said feedback over the past year has been fantastic and she even receives postcards from around the world from women telling her what a difference the bikini has made to their holiday. “It’s as if I’m travelling
Anabella top and bottoms in navy. Pictures: Catherine Frawley.
vicariously through my bikinis,” she joked. “But what really makes
Tallulah top and Bridgette bottoms in red.
the whole thing worth while is seeing a girl’s eyes light up when
they try on a bikini they really like.”
Number of ‘zombie businesses’ down from last year THE number of businesses that can only afford to pay off the interest on their debts is falling across the south east, says new research. There are 25,000 companies classes as so called ‘zombie businesses’, 9% of all businesses in the region, with the figure decreasing by 14% from last year. James Stares, chairman of the southern committee of R3, which carried out the research,
said: “The figures follow the national trend of fewer ‘zombie businesses’ and it is promising to see that businesses in the South East are doing better than most when it comes to paying their debts too. Here, only one per cent of firms struggle to pay their debts when they fall due, that’s one of the lowest figure of all UK regions. “That percentage has also decreased from last year, meaning
businesses are getting to grips with their borrowings. “It is worrying to see that some 10% of businesses in the region are having to negotiate their payment terms with creditors. “This should ring alarm bells. The time may be fast approaching for lenders, including suppliers and banks, to decide which businesses to continue to support and which to let go.”
From depressed teen to career girl, thanks to the Princes Trust AN ‘inspirational’ young woman has turned her life around and started working in Guildford after two suicide attempts as a teenager. Afsana Benozir, who started working at wealth advisors Towry, in Millmead, earlier this year, has come through adversity after trying to take her own life twice when she was 16. Twenty-one-year-old Afsana was helped to get her life back on track by charity the Princes Trust and is now relishing her job in Guildford. At the age of 10 years, Afsana closed herself off from everyone and just a couple of years later she was self-harming as a means of relief. “When I was young, life for me was very dark,” she said. “Depression had a full hold on
me. I would come home and I just wouldn’t really speak to anyone. I started to become really withdrawn. I used to come home and I would sit in the dark in my room, I would just sit there in the dark for hours on end. “I think everything just got on top of me. When I was walking one day I stopped and realised what a farce my life was and I would rather not go on living. “It was a really difficult time in my life, I realised how horrible I felt about life.” Afsana, who is from Tower Hamlets, London, left home aged 17 and spent around two years living in different houses, temporary accommodation and safe houses. She was taken on by the Princes Trust to complete a 12-week programme in a bid to help her. Afsana received strong support
from one Princes Trust worker in particular, Donovan Samuels, and she firmly believes the charity has saved her life. She said: “Donovan has been my rock. He made sure I kept going, for the first time in my life I felt somebody cared. Without the Trust I would not be here, it really has completely changed my life.” Afsana studied an access to medicine and medical biosciences course in London before returning to the Princes Trust, this time as an assistant team leader. Since then Afsana has won the Young Achiever award in the Princes Trust and Samsung Celebrate Success Awards 2013, and has been in employment for a few months. She was speaking at an event called Handbags and Gladrags charity dinner, in March, when
Jon Bowes, from Towry, was inspired by her story and offered Afsana a job with the company. “He came up to me and said ‘I will give you a job’,” she said. “It is really good here, I have learnt a lot. My journey has been a lot of work but I think it has made me stronger. I am really happy with how my life is going right now. “I will never forget the people who supported me for as long as I live and I will never forget what they have done for me.” David Villa-Clarke, wealth advice manager at Towry, added: “Afsana’s story, from being suicidal as a teenager to winning the Princes Trust award earlier this year, was a huge inspiration to us all. “We are thrilled that we have been able to support her as she starts her career.”
Afsana Benozir has settled in her new job in Guildford thanks to the Princes Trust after some tough years as a teenager. Picture: Steve Porter. (Ref: SA134684_1)
August 2013
5
Speed up process of airport decision making BUSINESSES need increased airport capacity as soon as possible. The airport debate is moving fast as proposals have now been submitted to the Davies review on airport capacity. The government has set up an independent commission to advise on the best way forward for the UK to remain globally competitive. Because of the time it takes to make decisions on this kind of long-term strategic planning, businesses find it difficult to contribute as they strive to grow
their businesses over the next 12 months or even as far as the next five years. Changes to airport capacity focus on more than 20 year horizons. However it really is time for businesses to make their views heard. There are a number of options on the table but the least palatable have to be creating a new hub airport in the Thames Estuary or expanding Stanstead to become the UK hub. In Surrey we have thousands of
businesses who are here because of the excellent connectivity that is currently available. Moving the UK’s only hub airport to the Thames Estuary or Stanstead would be enormously damaging. Some businesses would close, others would relocate. Either way, the effects on the people and economy of Surrey would be severe. Also of critical importance is the time it would take to either build an airport
August Chamber Connections – Guildford Breakfast, 8am to 9.30am, The Mandolay, Guildford.
£15
£30
Open 18 Hole Golf Competition followed by dinner and prize givving, 1pm to 8.30pm, Cuddington Golf Club, Banstead.
£66
£75
15 Thu
Chamber Connections – Elmbridge Breakfast, 8am to 9.30am, The Hilton Hotel, Cobham.
£15
£30
20 Tue
Summer Evening Cocktail Hour, 5pm to 7pm, The Lotus Lounge, Woking.
£15
£25
22 Thu
Chamber Connections –Redhill Breakfast, 8am to 9.30am, Chapters Café, Doynings Leisure Centre, Redhill
£15
£30
£20
£30
6
Tue
8 Thu
September
6
Fri
Businesswomen in Surrey – Men and Women – Different but Equal? 12.15pm to 2pm, The Mandolay Hotel, Guildford.
Surrey’s digital strategy – have your voice heard Surrey Chambers wants to hear what digital issues and challenges are facing businesses in the county AS ever, Surrey Chambers of Commerce is at the forefront of the implementation of emerging technologies and we want to ensure that the voice of business is heard at all stages. Surrey Connects (the Surrey Enterprise Partnership) is creating a Surrey Digital Strategy to support businesses to help them remain competitive and ensure they are best equipped to perform and exceed in an increasingly global
market. To do this, they need to identify what issues and challenges are facing Surrey businesses and therefore what support is needed by them to ensure they are using all the tools and techniques available to succeed. Whether trading locally, nationally or globally, there are plenty of competitors both at home and abroad who are trying to secure market share within the UK – and digital is the way they are doing
this. Surrey Chambers, along with Surrey Connects, want to ensure that any support needed is put in place to ensure our businesses are truly global. Surrey chambers is hosting a focus group to get the views of local business which are key to help shape the plans going forward. n This is taking place on August 8. For more information or to attend call 01483 735540.
from scratch or expand one heavily thus having an impact on businesses right across the country. By building on the excellent facilities we already enjoy we at least have some chance of competing with other countries on the global stage. Adding a runway to Heathrow and also one to Gatwick would appear to be the favoured option of businesses in Surrey. While we take years to make decisions (the final decision on airport
capacity will not be made until 2015) dozens of airports are being built and expanded around the world. If the government really wants to support international trade then members of parliament should speed up the decision making process and ensure that our connectivity to the rest of the world is fit for purpose. Surrey Chambers will be listening to our members and leading a campaign to make sure that the right decisions are taken.
The BIG eCommerce Conference returns by popular demand The online world moves at a rapid pace but The BIG eCommerce Conference can help your business keep up FOLLOWING its huge success last year, The BIG eCommerce Conference is returning to Surrey this September with sponsorship from Surrey Chambers of Commerce, More Than Just Mobiles and SignUp.to. The inaugural 2012 event attracted more than 100 delegates and 15 keynote speakers, including Thomas Power, of Ecademy, who will once again compère and chair proceedings. The BIG eCommerce Conference 2013 promises to be another not-to-be-missed day for businesses engaged in online sales activity – from established companies already trading on the internet, to start-ups keen to enter the virtual retail market. The conference is organised by Surrey-based digital media business b:web, experts in building ecommerce websites large and small. Zoe Brown, managing director of b:web, said: “The feedback from last year’s event was fantastic
“For those who attended the 2012 conference, there is more to learn in 2013” which is why we have chosen to run another this year with completely fresh content. “The online world moves at a rapid pace, and much has happened over the past 12 months, which we will cover in the form of seminars, workshops and guest speaker presentations. “For those who attended the 2012 conference to increase their skill set, there is much more to learn in 2013.” As well as addressing subjects such as mobiles, conversions, the user experience, return on investment (ROI) and social media, the conference will feature case studies from companies that have actively embraced the ecommerce world. More Than Just Mobiles and
Babyface will share how they approached the journey, what worked, what didn’t, and important lessons learnt. TWM Solicitors will also cover the legal pitfalls of trading online which many organisations miss. Guest speaker and Surrey Chambers of Commerce chief executive, Louise Punter, added: “The BIG eCommerce Conference is a fantastic initiative from b:web. “It helps businesses locally to make the most of digital marketing. “We are delighted to be sponsors and hope to improve our own techniques in the process.” The BIG eCommerce Conference 2013 takes place from 8.30am to 5.30pm on September 27, at the H G Wells Centre in Woking, Surrey. Surrey Chambers members can utilise a buy one get one free offer on tickets. For more information call 01483 735540 or visit www.thebigecommerceconference.co.uk.
6
August 2013
Unemployment figures continue to fall in Surrey Surrey Connects aims to double the county’s economy to £52bn by 2030 by leading activities that embed sustainability into businesses to enable them to weather economic storms in the long term.
SURREY RESIDENTS CLAIMING JOB SEEKERS ALLOWANCE (JSA) 13,000
11,969
11,000
10,043
9000
1,480
7000
5000 4000
GE
41.1%
16.5%
15.0% 610
June 2013
June 2012
June 2013
% 2 2.
Data source: Nomis Courtesy of Surrey Connects
JSA
Fig 3
CLAIMANTS BY DISTRICT OR BOROUGH JUNE 2013
1.7% 22.7% SPELTHORNE
3.5 %
ST SOUTH AEGAE AVER
4,080
760
June 2012
CLAIMANTS AGED 24 AND UNDER Percentages denote the ratio of all claimants in that given data range who are aged 24 or under.
UK AVERA
38.8% 1,950
1000
Fig 1 percentages denote the ratio of all Surrey residents of working age who claim JSA. Fig 2 shows the percentage of all Surrey claimants (as seen in Fig 1) who do so for 6 months or more. Fig 3 percentages denote the ratio of residents of working age in each Surrey district/borough who claim JSA.
The proportion of claimants aged 24 and under is currently showing a downward trend across the county
19.7%
2,700
2000
ALL CLAIMANTS OF WORKING AGE
The figures show a drop in people claiming for longer than six months, however because the overall number of claimants, shown left, has fallen by so much this is recorded as a proportional rise.
4,595
22.8%
3000
SURREY AVERAG E
1.4 %
1.6%
1.5%
1.5%
1.5%
1.4%
1.4%
1.3%
1.2%
20.7%
19.3%
20.8%
19.6%
20.2%
17.7%
18.9%
REIGATE & BANSTEAD
TANDRIDGE
people claiming JSA last month. Spelthorne has remained the area with the highest percentage of residents at the working age claiming JSA, at 1.7% in June. After this came Reigate & Banstead with 1.6%, followed by Epsom & Ewell, Surrey Heath and Tandridge, which all had 1.5%. The areas which had the smallest percentage of working age residents claiming JSA was tied between Elmbridge, Mole Valley and Waverley, which all had 1.2%. There has been no movement percentage of working age people in Guildford claiming JSA, which has reminased at 1.4%.
KEY
Fig 2
FEWER JSA CLAIMANTS IN SURREY
6000
SURREY’S economy has appeared to show continued improvement according to the Surrey Connects Surrey Economic Prospects, released at the end of July. The prospects suggest that unemployment has fallen in Surrey in the last month, with the data revealing the number of people claiming Jobseeker’s Allowance (JSA) has dropped. The number of Surrey claimants in June stood at 10,043, a drop of more than 500 from the figure the month before, which was 10,557. The number in April was even greater, at 10,920. In addition to this the Surrey JSA claimant figure for last month represents an annual decrease in those claiming the benefit. In June 2012 as many as 11,969 people were claiming JSA in the county, close to 2,000 less than the figure for last month. The Surrey Connects Economic Prospects report read: “The most up-to-date way of measuring unemployment is by using JSA claimant data. “Surrey’s claimant count rate (1.4% of residents at working age)
continues to be low relative to the South East (2.2%), England (3.4%), the UK (3.5%). “It also remains low relative to economic comparators: Oxfordshire (1.4%), Buckinghamshire (1.7%), Cambridgeshire (1.8%) and Berkshire (2.1%). Good news was also evident in the Surrey Connects Economic Prospects for the county’s youth unemployment outlook, as less people aged 24 and under are claiming JSA. The number of JSA claimants aged 24 and under in June stood at 1,950, compared to the 2,110 the month before – a drop of more than 150. The figure has showed continued decrease over the last three months, after it was 2,220 in April. Youth unemployment has also fallen in the last 12 months, representing annual improvement in Surrey. In June 2012 there was 2,700 JSA claimants aged 24 and under, which means there has been a fall of 750 claimants by the same point this year. Finally, the Surrey Connects Economic Prospects revealed which boroughs and districts in Surrey had the highest levels of
...OF WHOM CLAIM JSA FOR 6 MONTHS OR OVER
1.4%
10,000
8000
tim.harris@trinitymirror.com
Fig 1
1.7%
12,000
By Tim Harris
SURREY HEATH
EPSOM & EWELL
WOKING
GUILDFORD
RUNNYMEDE
1.2%
1.2%
18.6%
18.1%
19.0%
MOLE VALLEY
ELMBRIDGE
WAVERLEY
August 2013
Investment watch
7
Keeping an eye on the markets
Investors weigh up potential for stimulus withdrawal By Philip Scott
Head of Advisory Stockbroking at Simple Investments Current Overview Share prices have recovered over the past month as investors continue to digest both the potential timetable for and ultimate effect of US monetary stimulus withdrawal. The Federal Reserve has recently fine-tuned a previous announcement and clarified that QE (Quantitative Easing/ Money Printing) will only be ‘tapered’ if certain economic metrics allow (i.e. if unemployment reaches a certain reduced level). Moreover that any actual ‘tightening’ in policy (interest rate rises) may not come for some time yet even if QE is reduced. A few weeks back the message had been somewhat different: basically that tapering would commence in September (with little or no degree of wriggle room) and the market had got to thinking interest rate increases might not be far behind. There are possibly far reaching negative global ripple effects of reducing US (bond buying) financial assistance. Simultaneously the Americans are currently implementing spending cuts in an effort to reduce their budget deficit. The potential repercussions of the two
combined could be to impact the US economic recovery and therein lies the heightened (perceived) risk to global markets. One assumes the Fed will be monitoring and managing this dynamic closely going forward and we are due a near term update. Central Bank announcements are also due this week from both the BOE (UK) and ECB (Europe) and ongoing accommodative tones are expected. Despite slowly improving UK economic data, Mark Carney and company will persevere with a supportive low interest policy designed to nurse our economic recovery. Last month I argued that an opportunity had likely been created to invest in equities further to the significant drop experienced by the end of June. Thus far that looks to have been a decent call with the FTSE currently 4.3% higher although we now appear to be consolidating. Markets do tend to overshoot to the upside or the downside when sentiment driven momentum takes hold. These are conditions where active and nimble investors look to take action and I have selectively added to blue chip names on this retracement for clients. The averaged income yield (by way of dividend) of the FTSE 100 index (as I write) is about 3.5%
which in simple terms, when contrasted with saving account rates and government (investment grade) bonds, still looks attractive. In addition, equities have the added upside potential of capital growth. The short-term call for market direction is tricky right now as we are trading in the middle of the recent range and on seasonally low day-to-day trade volumes. While my medium to longer-term view is for higher levels (as I believe the global economy continues its recovery), those eyeing optimal entry prices for new (long) investment positions are probably best advised to keep some cash on the sidelines. Timing the market is a difficult thing to do but it can save or make significant sums if successful even to an extent. Stock specific thoughts A robust dividend yield on a stock is not only useful for the ultimate return achieved (when added to any capital growth), it can also help to provide support for a share price on the basis that the dividend payment is secure and not under threat. Whilst many clients I advise are predominantly capital growth investors, many well run companies also happen to pay decent dividends. Two such companies have
come onto my investment radar of recent. Imperial Tobacco in the FTSE 100 is now back at the lower end of a two year trading range under £22. Now selling on under 10 times projected 2014 earnings with a well covered (and growing) 5.9% dividend yield, I sense an investment opportunity. Markets are competitive and under much regulatory pressure, but Imperial is well managed, with defensive and strong cashflows and possibly a takeover target in addition. Although 60% skewed to Europe for profits, I believe the valuation discount to the sector it now resides on looks overly pessimistic. Laird plc (£1.90) in the Mid Cap (FTSE 250) space capitalised at £500 million pays a secure 6.35% dividend and sells on under 9 times next year’s expected profits. A market leader in the niche technology arena of electromagnetic interference mitigation, the company is global serving a range of sectors from Smartphones to Transport and Industrial. A solid balance sheet and flexible in approach for growing markets, this looks appealing to me on initial investigations.
This report was written by Philip Scott, Head of Advisory Stockbroking on 30/7/13 when the FTSE 100 was trading at 6570.
Philip Scott of Simple Investments.
Oh brother! Supermarket deal sees Surrey Cider hit the spot TWO brothers from Surrey who started their own cider business just two years ago have watched the venture grow. Ben and Will Filby, founders of The Garden Cider Company, have landed a deal with two supermarkets to sell bottles of their Surrey cider up and down the country. The Filby brothers’ Surrey Cider is being sold in 80 Tesco stores in the south of England, as well as 60 Asda stores across the UK. Ben, of Farncombe, and Will, who lives in Cranleigh, started their business in spring 2011 after being tempted to turn a hobby into something more. The Garden Cider Company is based in Witley and began by the pair asking people for their surplus garden apples in return for free cider. Ben, 41, said: “We asked the local community to give us their spare garden apples that would otherwise be compost or go to waste. In return, we would provide them with an allocation of cider based on the weight of their donation. It was the fairest idea we could come up with at the time as we had no money to pay for the amount of apples we needed. “People were very keen on the idea of using those apples that
would have ended up as compost. It is a unique way to make cider and it is a very organic idea.” Before long Ben and Will, who are originally from Tilford, had received 80 tonnes of apples from intrigued communities and their cider, which is bottled by Weston Cider, captured the imagination of pubs, farms and local produce shops in the county. The brothers then heard about an opportunity to meet the buyers from Asda in September last year at an event run by Taste South East, a network for food and drink businesses in the region. The deal with the supermarket was agreed, and since then the agreement with Tesco has also been set up. “This has just been a whirlwind,” said Ben. “We set out to just see what we could come up with. “I strongly believe we have got a unique product in the market and the way the Surrey community has got behind us has been overwhelming. We are very proud to have our roots in Surrey. The product is called Surrey Cider, it is made in Surrey and the apples are predominantly from Surrey. “That name is on supermarket shelves up and down the country and is putting Surrey on the map.”
Paulette Schwartz, founder of Fabulous Women.
A one stop skills swop shop
Brothers Ben (right) and Will Filby, founders of The Garden Cider Company.
Ben and Will thanked the community for their part in the business’s success and described it as a real example of a ‘community working together’. The brothers said their cider journey so far has been exciting,
but also challenging. Ben added: “Both of us have invested a great deal in this venture, both emotionally and financially. There is a future in the business. We are very excited about what the future now holds.”
AN East Molesey-based women’s business network has launched a new initiative for small firms to exchange skills. Business network Fabulous Women – which also welcomes men – has kicked off the free ‘Skills Swop’ initiative, which is designed to allow small businesses to help each other out. Examples of early swops have included the design of a threepage charity sponsorship pack in exchange for a three-hour business coaching session, and a 90-minute one-to-one yoga session in return for a 90-minute singing lesson. Paullette Schwartz, founder of Fabulous Women, said: “This initiative is proving very popular. Small business owners find it difficult to make ends meet in the current economic climate and this is one way small business can get the support and skills they need to develop their businesses.
“It is also a great way of networking and making contacts.” Ian Gray, a North Surrey Fabulous Women member, recently used Skills Swop to help boost his knowledge of selling online. “In return for installing one of my water softener units, I received some training on how to sell my product online,” he said. Fabulous Women launched just over a year ago and now has more than 50 members from around the South East. Ms Schwartz added: “We are keen to get small business going. A thriving small business sector has got to be good for our economy. I believe a strong small business community can help each other in their success and am very proud to see so many of our members cheering each other on.” For more information about Fabulous Women and the Skills Swop initiative, visit www.fabulous-women.co.uk.
8
August 2013 Sponsor’s feature
How to best futureproof your business with technology? A dilemma all Surrey businesses face is how best to cope with technology. Do you have the resources to hire an IT director/ team? Do you really need IT personnel in-house? Do you have the knowledge to supervise an IT team or should you let the experts do it for you? So many questions, what are the right answers? Andy Houston from Arcom IT explains For many, outsourcing can be the best option. Having an expert IT firm come in, review your business aims and processes to assess your current and future technology needs in order for your business to function to its full potential can be a massive benefit. Arcom IT manages the technology requirements of many Surrey businesses and keeps them running 24/7. Outsourcing your technology can give you increased performance and save you money in the short and long term. Issues to consider include having reduced capital expenditure by using the equipment and resources of a third party supplier, reduced costs by not having technology personnel on your payroll, having expertise available to make sure you have the correct solutions now and in the future, using the latest technology you might not otherwise be able to afford, and having an expert IT support function. By outsourcing you can vastly reduce capital expenditure as you may not need to purchase and maintain IT equipment but use your provider’s, which is likely to be far technologically advanced, robust and better specified than that you might be able to afford if you were providing it
yourself. For example, if you are a business with £80,000 worth of IT equipment it would cost probably £40,000 to have an internal IT person
“Outsourcing your technology can give you increased performance and save you money in the short and long term” look after this system, whereas with outsourcing from Arcom IT the figure would be far, far lower. You can save money by not having IT people on your payroll, plus which if you have one person running your IT, what happens when that person is on holiday or sick or suddenly leaves the business – one person is a single point of failure. There can be the fear factor for a small business whereby an owner is worried about giving an internal person too much control over an area where the owner is not an expert, and is a junior IT person really the most suitable to give sound advice for business critical decisions?
With an outsourced model you have permanent, expert cover, and with Arcom IT you have access to a whole team of highly qualified experts. For a small business keeping up with technology developments can be a nightmare. Arcom IT outsourcing gives you a far quicker deployment and ability to upgrade: For most companies, designing, procuring, and implementing IT equipment and systems can consume a significant amount of time and effort, even if you have the knowledge and expertise to make the correct decisions. Arcom IT can implement new projects in a very short timeframe. Outsourcing enables cost reduction and amortises costs into a predictable monthly service fee. Many companies find it more economical to outsource IT infrastructure as compared to maintaining it in-house due to the high cost involved in terms of personnel, security, power /generator provision, fire suppression, automated backup systems, spare parts, and 24/7 monitoring and response. Outsourcing can give you a better service, with expert advice and constant service, save you money and all this will free you up to do what you do best… run your business!
With over 2 million emails sent every second, who will keep your 'traffic' moving smoothly?
In the midst of new legislation,economic turbulence and environmental challenges it’s important that the 21st Century doesn’t leave your business in a jam. At Arcom IT we have an unrivalled team of friendly experts who can supply and support robust, tailor-made solutions that evolve to keep you on the straight and narrow. And since our main office has been in Surrey since 1998... we’re just down your road!
• Server & Desktop Virtualisation • Storage Virtualisation • Application Virtualisation • Infrastructure Services • Cloud Services • Disaster Recovery & Business Continuity • Workforce Mobility • VoIP Telephony & Internet communications • 24/7 Monitored & Managed Support
W: www.arcomit.co.uk | E: info@arcomit.co.uk | T: 01483 505055 Arcom IT Ltd, Export House, Cawsey Way,Woking, Surrey GU21 6QX
Arcom IT Sussex Office, 2 Tarmount Lane,Tarmount Studios, Shoreham-by-Sea, West Sussex, BN43 6DA,
Arcom IT Gibraltar Office Unit 2b, Garrison House, 3 Library Ramp, Gibraltar.
The importance of a reliable email system It’s amazing how we have all become totally dependent upon email. It is by far the most important business communication tool used today. We all know the huge frustration when there is a technical hitch which denies us from seeing our email. Given the choice of email or telephone I suspect that most people would choose email. In addressing this prioritisation of email communication, Arcom IT has worked hard to offer our clients the best email solution. As the range of email threats has grown, systems for email security and encryption have become ever more complex. Users need ever higher levels of protection while at the same time expect more business functionality. Arcom IT Email Security solutions provide the most comprehensive, cloud-based email risk mitigation system on the market today. Backed by stringent availability, along with flexible email encryption options, the Arcom IT email solutions cut costs and complexity, removing threats in the cloud to reduce your risks and improve overall email server performance. It is also built to ensure you can meet data security and privacy obligations governing everything from health information to payment card processing information in emails. Uniquely, Email Security allows end users to manage their Secure Email Gateway, as well as manage
their safe and blocked senders list, or even report spam, all from directly within Microsoft Outlook. The product protects against inbound and outbound email-borne threats, including malware, spam, phishing, Denial of Service attacks, deliberate or accidental data leaks, outages, and social engineering attacks. Email archiving is a critical requirement for every organisation, but it’s more than just email storage for the sake of record keeping and compliance. Arcom IT Email Archive solutions cut the cost and complexity of secure, accessible email archiving. It gives your users instant access to every email they’ve ever sent or received and it gives you central control of email retention policies. Email has become the most critical form of business communication, yet it’s not always as reliable as it is important. Businesses
can no longer afford outage for any length of time. Arcom IT Email Continuity solutions deliver always-on, seamless email availability through automatic service failover and failback in near real-time during an email outage. It integrates so seamlessly with Microsoft Outlook that your employees will just carry on using email safely and securely – whether the email outage is planned or not. An essential part of your business continuity plan, Arcom IT Email Continuity is a cloud-based solution that steps in automatically to deliver email to end users during planned and unplanned outages of your Microsoft email service. Managed from a single administration console, and with no additional on-premise hardware required, Arcom IT simplifies your network and reduces administration.
2
July 2013
My first job A SUCCESSFUL business improvement company has expanded its operations into Surrey. An event at the University of Surrey on Thursday July 4 marked the launch of Pro-actions Surrey. The company helps business owners, from start-ups to small companies in London and the South East, with plans to expand nationwide in the next three years. Without tying companies into long contracts Pro-actions provides assistance in achieving profitable growth, working in collaboration with the major high street banks, local authorities and a range of professional partners. The launch event included presentations from founder Andy Linnett and area director for Surrey Ted Clarke as well as existing clients. Mr Clarke said: “I’m delighted to have the opportunity to help business owners and partners across the county by leading a new team delivering the proven range of Pro-actions services. "Surrey is a vibrant county with an abundance of businesses and we aim to help all of those that need it”. Pro-actions offers free business briefings aimed at the leaders and managers of small and medium size businesses. Advice is given on subjects including marketing, sales, cash management and time management. The firm was founded in Essex in 2007 and now operate out of London, Essex, Kent, Hertfordshire, Sussex and Surrey. THE South East remains the UK's biggest exporting region after figures revealed exports in the area were worth more than £11 billion at the start of this year. Figures published by HM Revenue and Customs (HMRC) showed exports were worth £11.057bn to the South East between January and March of this year. BUSINESS confidence in Surrey has fallen in recent months, according to new research. Research carried out by workplace provider Regus has revealed business confidence in Surrey has not only dipped during the last six months, but also lags behind the national average. Six months ago, the Regus Business Confidence Index (BCI) showed Surrey firms to register 103 on the index, compared to an overall UK standing of 94. While confidence in the UK as a whole currently remains unchanged, Surrey firms appear to have taken a step back, registering a BCI of 90. Steve Purdy, UK managing director for Regus, said: “This edition of our confidence index shows a sharp correction in the local figures, with confidence falling back into line with national averages.”
Editorial Director Marnie Wilson Group Deputy Editor Mark Miseldine Business Reporter Tim Harris Commercial Manager Amanda Ducas Regional Sales Manager Sarah Firth
A
Shahid Azeem is the managing director of Arcom IT What was your first job? When I was 17 I began working life at the Guildford Sheet and Metal Company, cutting metal panels. When I was 18 I got a job as junior data processor at the now defunct Ministry of Agriculture, Fisheries and Food (MAFF), in Guildford. I didn’t know anything about computers at the time, only that they were said to be the future, and that was good enough for me. This is where my passion for computers started and I was also lucky in that my first boss at MAFF, Pete Brayne, who is now chief executive of Guildford YMCA, was tremendously supportive of me. Several businesses later, A+P Computers morphed into Arcom IT.
How did you get from there to where you are today? I am very grateful to the start that Pete gave me, and the faith that he showed in me. I remember the motivational way he talked to me, a young person starting out, and I've tried to help young people along the way ever since. I am involved with a youth charity called Mosaic, set up by Prince Charles. I have always had a strong social conscience and Arcom IT is a Patron company of Mosaic. What has your career so far taught you? I have learned over the years that you should treat people as you would like to be treated yourself, to conduct business with openness and integrity. I am passionate about helping other businesses and to encourage entrepreneurial spirit. I have done a lot of mentoring, particularly in schools and for disadvantaged people. I helped set up the Woking Asian Business Forum and Arcom IT is a supporter of several local charities. What does the future hold? Recently we moved from the
Shahid Azeem, managing director of Arcom IT.
Arcom IT office in Guildford to refurbished offices in Woking, and we are involved with Woking Borough Council in setting up a business incubation scheme. As for the future, I would like to develop this side of our business, working in conjunction with
prestigious partners to help budding entrepreneurs. A long time ago when I was cutting out sheets of metal I didn't know that I could be an entrepreneur, and I want to help young people to achieve their dreams too.
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Younsters at St Thomas of Canterbury School are hooked up.
Green company connects with some young learners A GREEN award-winning company has helped a school in Guildford double its number of computers. Construction group Skanska, which has a base in Woking, recently sent technicians to St Thomas of Canterbury Catholic Primary School, in Horseshoe Lane West, to install power and data on 15 new computers. The school had was awarded
the computers by the Olympic Delivery Authority for a nominal fee after London 2012, but could not afford to make them operational. Skanska, which was awarded The Sunday Times Best Green Company Award in 2011, decided to help out, meaning all 30 children in a class at the school can work on their own computer instead of sharing.
“Each child can fully participate in the lesson,” said Vikki Merry, a Year 2 teacher at St Thomas School. “There has been a noticeable improvement in their computer skills already.” Headteacher Kevin Gawley said: “It was very kind of Skanska to arrange for technicians to carry out the cabling and electrical work and without their generous
support we would not have been able to finish the project.” Skanska’s work at St Thomas School was part of the firm's project to provide ‘commitment to young people’. “We are delighted the children can now work from their own computer at St Thomas,” said Becki Taylor, administration and communications manager at Skanska.