NetWorks 14: The Bellwether Issue

Expert advice to help you navigate

2023

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Issue 14 | the Bellwether issue | 2023

PEOPLE WHO KNOW PEOPLE THAT HELP PEOPLE

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TEAM

NetWorks Editor: Diane Birch, BITA Executive Director Sub Editor: Laura Watkins, Events and Communications Manager

WELCOME

Features Editor: John Reynolds BITA Contributors: Barbara Cacao, CC Finance.

Sarah McCartney, SLMC Consulting.

Paula Fisher, Practical HR. Aidan Scollard, Roberts Nathan.

Krissy Rogero, Moneycorp.

Niks Druvis Andžāns, RALF Partnership.

Design and Production: E jules@stimula.co.uk

Online version: https://bita.ie/magazines.html

Printer: Aquablue Sales, Events and Marketing: T +44 (0) 7587 035740 E laura@bita.ie

Published by BITA Ltd HEAD OFFICE: OneHub, Floor 3, Maitland House, Warrior Square, Southend-on-Sea SS1 2JY

www.bita.ie T +44 (0) 7587 035740 E laura@bita.ie

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here would we be without our friends, families and colleagues? This is a question that often comes to mind when I’m working with businesses in BITA. These are the people who believe in us, support us, and help us up when we’ve fallen. Frequently, I am honoured to see this inside our own organisation. Knowing these stories of people helping each other is what inspires me, and we hope to inspire you with this edition of NetWorks.

We are being told that this year is going to be tough. Myself, I don’t believe it will be as bad as we are being told, but that doesn’t mean it won’t be a struggle. So, in this first edition of 2023, we have spoken to our members to get their advice for surviving and thriving.

On page 16, Paula Fisher explains how businesses can prepare for difficult times by checking their HR, and on page 39, Orla O’Leary introduces her Companies Hub – a new initiative that will be transformative for the BITA community. This year we are excited to launch new chapters and are also expanding with new divisions for BITA industries. Take a look at page 35 to learn about Shane Manogue’s plan for the new Surrey Chapter, and at page 38 for details of the Hospitality Division of BITA. We hope that you are as excited by these changes as we are! The team is eager to know your opinions about how BITA supports businesses, and you may have seen some polls appearing on LinkedIn. Please engage with them and let us know your thoughts, so we can continue to grow in the right direction.

We want to pull together to support our business community, but it’s also important that we support those in our wider communities. Penny Dinners is a Cork based charity that helps disadvantaged people access hot meals. With the support of some incredible members, BITA has facilitated an excited new initiative that you can read about on page 42.

All the best,

© BITA Ltd. All rights reserved Terms and conditions NetWorks is published by BITA Ltd. Its entire content is protected by copyright 2023 and all its rights reserved.

Reproduction without prior permission is forbidden. Every care has been taken in compiling the content of the magazine, but the publisher assumes no responsibility in the effect arising therefrom. Readers are advised to seek professional advice before acting on any information which is contained in the magazine. Neither BITA Ltd or NetWorks accept any liability for views expressed, pictures used or claims used by advertisers.

PAUL WHITNELL President

@BITAIntl @BITAIntl @BITA @BITA_Intl

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Contents 22

38 BITAIntl

PEOPLE WHO KNOW PEOPLE THAT HELP PEOPLE

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NetWorks PEOPLE WHO KNOW PEOPLE THAT HELP PEOPLE

Issue 14 | the Bellwether issue | February 2023

6

Cutting the Cord

9

Changes to R&D

11

Business Advice and Support

12

Letters of Intent

13

The Genuis of Genz

15

Alternative Business Finance

16

Embracing HR

18

The Future of Meat

21

How Forex can Save you Money

22

International Exposure

25

Addressing the Skills Shortage

26

Getting Prepared

29

BITA Chapters - Community Round Up

38

Focusing on Hospitality

39

Stronger Foundations

41

Global Mission

42

Growing for Green

44

Supporting the LIC

47

Helping our Communities

49

The Weight of Health and Safety

50

Prosecutions for UK directors of Irish Businesses

26 THANKS TO OUR SPONSORS

BUSINESS

Cutting the Cord Diane Birch, Executive Director of BITA, considers when it’s time to free yourself from your clients

I

work in business optimisation – advising companies on how they can get from their current position ‘A’, to where they want to be: ‘B’. This might mean increasing turnover, profits, engaging staff, marketing or all the above.

Whatever I am working on, I use the 80/20 rule; an approach developed by an Italian Economist while he was working on his vegetable patch.

Originally known as the Pareto Principle, the 80/20 rule was developed in 1906 by economist and avid gardener, Vilfredo Pareto. Pareto noticed that 20% of his pea plants produced 80% of the

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crop yield. He questioned whether this would hold true across different fields, and surprisingly, it did.

Whether considering who owns land in a country (80% owned by 20% of the population), optimisation efforts in computing (80% of the errors are contained in 20% of the code), health and safety (20% of hazards are responsible for 80% of accidents), or business, the principle holds true.

Keeping it in mind will help you to focus on the profit-making parts of your company and cut out the parts that are dragging you down.

NetWorks Sponsored by www.flexerent.co.uk

My career began in yacht-building and construction with the family business.

I then gained experience in retail management working with Topshop and Debenhams. I left long ago and promise I had nothing to do with their collapse!

I have since worked with many different businesses as a marketing and business growth strategist, helping my clients achieve their goals. From market share, through marketing and sales, the Parate Principle is applicable to (probably) every corner of your business.

When I first start working with a new client, this principle is the first thing I tell

BUSINESS

as you are with ‘Sue’ who gives you 30% of your business.

All those percentages add up, and you don’t want to lose anyone. But losing Sue would carry far more business impact than losing Jack.

Take an honest look at the time you spend supporting different clients, and seriously consider if you’re spending your time with the right people. If you spend that extra time with Sue, will she increase her business by another 5%?

The principle also works with complaints. 20% of your clients are making 80% of the complaints and extra work in your business. If someone in this 20% is also in your top 20% of spenders, then you may need to put up with them.

Many of them won’t be.

It is very common that when reviewing the customer list with my clients, we find that most of the complainers are in the bottom 80% of the spenders. Without fail, they are also bad at meeting payment deadlines.

Why are you keeping them around?

With your new, streamlined client list, you can then look at other areas to apply this principle.

If you make a product, you will find that around 80% of product defects are caused by 20% of the problems in your production methods. Review these methods, focus on improving that 20%, and the overall quality of your products will increase.

You should also have your marketing team consider their actions through this lens. They should focus their attention on the top 20% of readers of email marketing, social media and other activities, rather than trying to attract everyone.

It’s important to mention that this is a general principle that holds true across many different arenas, rather than something you should live your life by.

When checking your sales, you might find that 30% of customers are responsible for 75% of your income. Or that 15% of customers are responsible for 85% of complaints. But the 80/20 rule will generally hold true and will give you a starting point for investigations.

At BITA, we are hopeful for the year ahead, and it’s our belief that the business landscape won’t be as challenging as we have been told. As I write this, the rate of inflation is being officially downgraded.

But this isn’t just advice for challenging

Cut. Them. Loose!

them about. Most of the time they know it, but they either forget to apply it, or don’t realise the full impact it can have. For businesses looking to streamline their processes and maximise turnover, please note:

If you want to make more money, you need to free up your time!

When we go through client lists, it generally holds true that 20% of their clients generate around 80% of their income. I’m not suggesting that you go through your client database and drop 80% of your clients. But you should identify that top 20% and focus on them.

It can be tempting to treat all clients equally, but in this area (and others) equity is far more important. If you split your time equally between all clients, you will be spending as much time with ‘Jack’ who provides 2% of your business,

It can be difficult for any business to consciously rid themselves of any clients.

All people see is money walking out of the door. Instead, I urge my clients (and you) to reframe this action. Instead of losing a client and their money, you are gaining back 80% of the time your staff spend dealing with difficult customers.

Time they can use to find new and better clients or refocusing on your ledger’s big spenders.

As a manager, business owner, CEO... your time is incredibly valuable and is a resource to your business. Making sure you spend it wisely, investing that time into the clients that fuel your business, rather than focusing on the ones that drag you down, will not only improve the bottom line. Working with positive people that are a benefit to a business will also benefit the mental health and motivation of your team. It will give them time and energy to look elsewhere for cost saving and income boosting initiatives your company needs.

INCREASE YOUR INCOME, TIME AND MORALE BY SAYING NO TO PROBLEM CLIENTS! times. In order to grow and protect our businesses for the future – whether looking to sell or pass on to our family – we need to make sure they are running as efficiently as possible. Go through your operations, your processes, your complaints. Talk to your staff and ask them what takes up time. Look through the results, and just keep the 80/20 in your mind while you do so.

Cutting the cords on negative relationships and clients that don’t appreciate you will help you thrive, improving staff morale and increasing your income. www.bita.ie

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FINANCE

Changes to R&D

Ben Craig, Associate Director at Ayming, delves into upcoming changes to the UK’s R&D Tax scheme

WITH THE SMALL AND MEDIUM-SIZED ENTERPRISES (SME) ADDITIONAL DEDUCTION DECREASING FROM 130% TO 86% AND THE There were a number of changes announced in the Autumn statement back in November, which will affect the UK’s R&D Tax scheme and many of the companies that benefit from it. Ben Craig, Associate Director, R&D Incentives at Ayming UK, takes us through some of the key changes, gives his view on what they could mean for your business’s current and future innovation.

Changes to the SME scheme The headline changes to the SME scheme include: • The small and medium-sized enterprises (SME) additional deduction will decrease from 130% to 86% • The SME credit rate will decrease from 14.5% to 10%

SME CREDIT RATE DECREASING FROM 14.5% TO 10% FINDING A REPUTABLE R&D TAX PARTNER IS MORE IMPORTANT THAN EVER TO MAXIMISE THE OPPORTUNITY THE SCHEME PROVIDES. With the ONS R&D statistics update, we still don’t know enough about the impact the SME scheme has had on business investment in R&D, so now is not the time to change course so abruptly.

We must tackle the vulnerabilities within the existing SME scheme that leave it open to exploitation and misuse. Still, the large number of SMEs using the scheme properly should not suffer for the actions of the few abusing it. Rather than directly tackling the problem of fraudulent claims, it seems the Government is attempting to make it a less tempting target for abuse.

Changes to RDEC rate The Chancellor’s decision to slash R&D tax relief for SMEs undermines the essential innovation made via the scheme.

The increase in the Corporate Tax rate partially mitigates the reduction; however, the scheme’s benefit is still reduced to only 21.5%, losing nearly a fifth of its current value.

It’s even worse for loss-making SMEs; reducing the payable credit rate to only 10% means that those companies will only receive an 18.6% benefit, barely half what they currently receive.

This announcement came soon after comments on how important innovation will be as a driver of long-term economic growth and cementing Britain’s status as a ‘Science Superpower’. The reduction acts in stark contrast and contradiction to his comments made moments before.

For expenditure on or after 1 April 2023, the Research and Development Expenditure Credit (RDEC) rate will increase from 13% to 20% The change to the RDEC rate is good news for large companies, and even with the hike in Corporate Tax, it is a real-terms increase of nearly a half, to 15%.

The Government describes this as a move to ‘rebalance generosity of reliefs’, ostensibly to tackle error and fraud in the schemes.

There has been plenty written in the news recently about the levels of error

and fraud at the SME level, and there is no denying it is a problem that HMRC must address. However, no measures outlined in the Autumn Statement this morning address the issue headon. In fact, the effect of the measures introduced will simply reduce the benefit for genuine claimants. It seems at odds with the stated aim of avoiding tax rises that damage growth and asking more from those who have more.

Changes to Patent Box Some other good news, particularly for large companies: Patent Box is not being changed, and in particular, the rates are not changing. As a result, eligible profits will continue to be taxed at 10%, which looks increasingly generous given that the alternative from April 2023 will be to pay 25% tax on these profits; as a result, the generosity is effectively increasing to 15%.

Timing of the changes All the proposed changes are to take effect for expenditure incurred on or after 1 April 2023. This gives companies relatively little time to anticipate and plan for the coming changes.

To discuss the opportunities the R&D Tax scheme offers for your company’s innovation funding, speak to Ayming’s BITA lead, Ben Vass on 07826 850 339 or bvass@ayming.com

www.bita.ie

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BUSINESS

T

here has been a significant increase in the number of entrepreneurs’ stories being recounted in various forms of media over the last decade including being told on TV, in books and in films.

Their many interesting journeys are often glorified and paraded as more glamorous than they are. Couple this coverage with the fact that the UK is unrivalled as a place to start and grow a business and it’s no wonder that there has been a cultural shift that says, ‘I would like to be in control of my own life and my own destiny’.

Entrepreneurship is a well-trodden path and like in any field, professional or otherwise, mistakes can be avoided, and advancements made quicker with a little

proposal. A common theme running amongst our client base is that successful entrepreneurs only pivot if they really must, or if it’s utterly commercially compelling to do so. Alternatively, I have seen some not so successful people use pivots to justify themselves being distracted from their missions and inevitably failing.

Focus on what is most important Entrepreneurs need to hold the ability to see through what’s not important.

Although tempting, swanky office space and sexy branded stationery are vanity progressions.

We represent one client who often says that he always tells people not to

Business Advice and Support Martin Mockler, Partner at Evans Mockler, offers advice and support for those launching a new UK business venture guidance from those who have been there, done that and got the t-shirt, so to speak.

I’m very fortunate to be part of a community within the BITA that is bursting with entrepreneurial expertise, success and talent. I recently asked a number of the successful clients within Evans Mockler, who have led businesses which have had a major impact on the built environment of London and the Southeast, what their advice would be to those about to embark on their start-up journey.

Resilience and focus (commonly known as stubbornness) To be successful, an entrepreneur must be resilient. Any comment that runs along the lines of “that’s not possible” or “that can’t be done” should be treated as a challenge to prove wrong.

They must then be prepared to persevere and execute with their original

worry about where they’re working from.

Whether that’s from home, meeting people in a café, or a hotel; it’s cheaper and it’s flexible. You’re much better off spending money on marketing and maybe limited PR as it boils down to the fact that with no sales, you don’t have a business.

Consider seeking support from industry peers Entrepreneurs don’t just need money, they need support. It is very important for entrepreneurs to have the encouragement and advice they need to help propel their business forward.

Attend meetups within your industry or local community and seek out online support via forums and groups. You’ll be surprised just how willing others will be to help and offer advice for free. Signposting, reassurance and sanity checking from

peers can be invaluable at all stages of your businesses journey. There will always be someone a little further down the path you are taking.

Do not be distracted and remain focussed Try to ensure that as a business owner and leader of a team you fully understand the purpose of what you are doing. In addition, it is vital that owners stay on purpose and follow through with that purpose in all that they do.

If you find that you are heading in a direction that doesn’t support your business purpose, you risk derailing due to potential distractions.

Having said that, pivoting (which generally refers to a shift in strategy) is widely cited as a skill that entrepreneurs ought to possess. Few start-ups will avoid pivoting in their quest to find the right customer, create a clear value proposition, and define positioning.

Pivoting methodically with a clear strategy isn’t a distraction but taking a path with no clear metrics for success is a fool’s errand.

Starting a business can be exhilarating, rewarding and fun, but can be exhausting, relentless and stressful in equal measure. Just like any endeavour, taking advice from those who have already made mistakes and achieved their own successes despite setbacks is a sure-fire way to minimise the risks of lessons being learnt the hard way.

A SUCCESSFUL ENTREPRENEUR MUST BE RESILIENT AND EAGER TO MEET ANY CHALLENGES.

LEGAL

Letters of Intent David Daly, Director at HD Construction Solutions Introduction Letters of intent (“LOIs”) are widely used in the construction industry but are often misunderstood and often the cause of disputes. LOIs are intended to allow work to proceed on site whilst giving both parties some legal protection, typically before negotiations for the finalised construction contract are completed. They are usually contracts in their own right, containing all the usual requirements such as offer and acceptance, consideration, intention to create legal relations etc.

Note however they are intended to be interim and not final. Whilst that sounds all fine in theory, the reality is often much more complicated.

The law It is also important to note that there is no defined format for LOIs as was summarised in the case of ERDC Group v Brunel University (2006) EWHC 687 (TCC): “Letters of intent come in all sorts of forms … there can therefore be no prior assumptions” [27].

It is also essential that if the parties intend for an LOI to be binding, it is important to state this clearly and unequivocally so that enforceable contractual obligations on either party arise. If not and the LOI is found to be non-binding, ambiguity as to the parties’ respective obligations can arise such as remuneration for work done, which is likely to be assessed on a ‘fair and reasonable’ basis, which itself comes with inherent uncertainty. Similarly, if there is no binding completion or expiry date in the LOI, then what date are the parties working to?

Ensuring a smooth transition from LOI to an executed contract is also important so that the terms of a LOI will be superseded by that of the formal contract as was held in Twintec Ltd v Volkerfitzpatrick [2014] EWHC 10 (TCC): “It has been well established for some fifty

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What should an LOI contain?

LOIs should provide for (amongst other things) the following: • A defined scope of works • A contract sum, or more commonly in LOIs, a defined limit on expenditure • Compliant payment terms • A commencement, completion and/or expiry dates • Insurance requirements • The governing law • A dispute resolution mechanism • A pathway for integration into the executed contract

years that, all other things being equal, where two parties enter into an agreement to carry out work in anticipation that they will in future enter into a formal contract in respect of that work, if that formal contract is subsequently entered into it there may well be an implied term that the contract will govern the parties’ relationship retrospectively.” [18]

LOI problems Examples include: • Disagreement What occurs if the works are commenced under a LOI but negotiations to conclude the formal contract end up in a stalemate?

Provided the terms of the LOI have not been varied, then a contractor may choose to limit its works to that provided for in the LOI and leave site when that point is reached. What then for the employer? It is likely in that scenario that the employer would be left at square one and would need to re-tender the works. Given what has happened in the market over the last 18 months with cost escalation across the board and interest rate rises, the absence of a fixed price lump sum would leave an employer greatly exposed to increased construction and funding costs.

• LOI management LOIs can often grow legs of their own if not managed closely and be varied by conduct and/or correspondence. A typical example where this occurs is where time or expenditure limits are provided for in the LOI but are exceeded without the LOI being amended. It is not uncommon to see projects executed through to practical completion on extended/amended LOIs without a formal contract ever being concluded.

Where disputes do not arise that is all well and good but where parties cannot agree final terms of contract, all sorts of problems can arise during the works.

Conclusion Where LOIs cannot be avoided, it is imperative that its provisions and limitations are closely monitored and revised when necessary. When drafting LOIs, set out the terms of the LOI clearly and ensure they are free from ambiguity and ensure that any revisions are made in good time. Ultimately, replace the LOI with a formally executed written contact as soon as possible and ensure that that contract supersedes the LOI in full.

Disclaimer: this content is provided free of charge for information purposes only. It does not constitute legal advice and should not be relied on as such. No responsibility for the accuracy and/or correctness of the information and commentary set out in the article, or for any consequences of relying on it, is assumed or accepted by HD Construction Solutions Ltd.

COMMUNITY

The Genius of Gen-Z (and how to attract them)

Tiernan Dixon, Founder of Superbeam Agency and member of BITAx Board

I

t’s no secret that UK Construction is facing unprecedented skills and labour shortages and has been for some time now. What if part of the shortage was a communication problem that we could fix?

As an industry, we do a good job of communicating successes, whether winning awards, projects, or accreditations. These updates are great for some; suppliers and sub-contractors love seeing their clients win new work.

But what about this massive skills and labour shortage? Who should we be communicating with to address this issue?

I propose that we should start thinking more about Gen-Z. The generation that has grown up online and get much of their news and

culture through social media, the oldest cohort of which are now 24, and already part of today’s workforce.

How often is this group specifically considered when discussing strategy and recruitment?

Generation-Z are the future of the industry, with skill sets that can transform productivity and how we approach every facet of operations, from digitalisation to inclusivity and sustainability.

As a collective, the contributions of the upcoming generation have the potential to be resoundingly transformative for the contemporary workforce at large. They are digital natives, raised with emotional attachments to screens; being given an iPhone to play with when their caregivers are busy. Many consider the digital world a second home and considering improvements to online processes is second nature. Some spend hours on Minecraft or Fortnite, tirelessly building original structures with finite amounts of resources, useful for future construction professionals!

From a social perspective, the collectivism, power, and passion of this generation to ‘do the right thing’ and become influencers for change has shaken the foundation of advertising, employment, and media. Every organisation vying for their attention and talent has had to re-think communication

IT’S NO SECRET THAT UK CONSTRUCTION IS FACING UNPRECEDENTED SKILLS AND LABOUR SHORTAGES AND HAS BEEN FOR SOME TIME NOW.

strategies, adapting to the tone, platforms, and value systems of the many.

But as an industry, construction doesn’t seem to be talking their language, or even talking in the right place.

More members of Gen-Z live in a world of creative media; they communicate across an ever-changing variety of social and digital platforms. The construction industry must meet them there. To not, is like running about the 3rd floor of a hotel, looking for someone on the 5th: we’ll never find them.

Engagement Careful consideration is key to engaging with any specific group, and Gen-Z is no different. Consider how and where you are communicating your brand’s Employer Value Proposition? How are you engaging and inviting the future generation of talent into your business and the industry?

There are very simple practical changes we can make to engage a mobile-first generation, but there’s a bigger picture here too. The construction industry has so many fantastic opportunities to offer young people. Rewarding, challenging, and fulfilling careers; great money and guaranteed work.

But these opportunities will only provide value to someone if we can communicate them effectively. An unutilised opportunity is no opportunity.

We must work on our communication, and our presentation of the industry as one of a viable career, with interesting and well-paying work. Not just with words, but with images and videos that Gen-Z can engage with on their chosen platforms. The need to tell stories visually is embedded in the human psyche; the storytelling 17,000 years ago in Lascaux cave shows this.

Today our cave walls are digital.

We have a long way to go with creating compelling brand narratives that act as persuasive recruitment tools.

Beautiful, personal communications that sell the dream, but are firmly rooted in reality. The industry isn’t just competing with itself, but every other industry vying for the next generation of talent. If we want to win, we need to completely rethink our communication and recruitment strategies. www.bita.ie

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Looking for more sales leads? www.crannull.co.uk

Contact us at sales@crannull.co.uk

01582 256 010

14

BARBARA CACAO

FINANCE

Alternative Business Finance 5 Facts Every Business Should Know When advising clients on commercial finance I regularly find that not all of them are familiar with alternative funding. Unlike property professionals many business owners only come across nonbank lenders and challenger banks once their main bank rejects their funding application. Given that alternative finance has provided a lifeline to many businesses in the past seven years, including many of my clients, I thought it is time to share five often overlooked facts:

finance new material, equipment and staff.

Especially smaller alternative lenders with state-of-the-art technology, established private funding lines and less red tape are more agile and can often lend within a few days, sometimes within 24 hours (invoice finance, merchant cash advance).

5. A Self-Regulated Industry 1. Higher Risk Appetite

3. Wider Funding Options

One of my clients required a £200,000 unsecured loan to expand his business.

Because his trading history was less than three years, the client had no collateral to offer and as the business was just turning the corner to profitability, high street banks would not lend. Too risky.

However, one of the revenue-based alternative lenders was willing to lend on the company’s draft set of accounts and the last three months bank statements demonstrating a revenue of at least half of the requested loan amount. Though their interest rates were clearly higher the business was able to demonstrate that it was able to afford the loan and could repay within five years.

Alternative lenders offer a wider set of eligibility criteria when assessing credit risk, for example to clients with adverse credit histories, in exchange for higher interest rates. In some cases, however, challenger banks can charge nearly the same tier 1 rates than a high street bank.

The one key question I use when liaising with potential clients is “Have you applied for funding with your business bank?

What have they said?” Every business borrower should try their high street bank first for traditional funding. If the funding application gets rejected the alternative lending market opens wider options.

During a recession, high street banks tend to tighten their lending criteria and exclude certain risk sectors, like leisure and hospitality. Alternative lenders tend to look at each business’ individual strengths and their management teams when deciding on providing funding. Additionally, some specialist lenders accept security that your high street bank may not, such as card payments, invoices, and stock.

4. Faster Turnaround If a business’ success depends on quick access to funding the cheapest interest rate may not be the key driver. For example, contractors landing major new projects will often require a cash flow loan to

Why is commercial lending off the high street unregulated? Unlike with consumers, businesses are normally assumed to be able to understand and assess contracts they sign. In the case of smaller business borrowers such as sole traders, however, commercial lending of £25k or less is generally regulated.

Unregulated doesn’t mean it’s the Wild West, however. To demonstrate this, the Lending Standards Board (LSB) oversees lenders’ adherence to a code of industry standards, both for regulated and unregulated lending to business customers. As such, the LSB is recognised by the Financial Conduct Authority.

And Lastly...

Commercial finance brokers and advisers usually deal with a variety of alternative lenders. A good broker authorised by the Financial Conduct Authority (FCA) has their finger on the pulse and will advise on the most affordable, and most appropriate type of finance, for any given funding and client scenario.

2. Specialisation An interior designer wanted to fill a substantial cash flow gap caused by an outstanding payment for goods shipped to a customer abroad. A Letter of Credit (LC) was all that would have been needed in the first place to secure funds from a trade finance specialist.

The boutique trade finance specialist I contacted handles the whole export trade finance process on behalf of clients, from producing and presenting shipping documents under the Letter of Credit to matching the issuing bank with a UK bank who has an appetite to confirm the LC. Other areas of specialisation where established alternative lenders offer an advantage include acquisition finance, merchant cash advances, and soft asset finance.

ALTERNATIVE LENDERS OFFER A WIDER SET OF ELIGIBILITY CRITERIA WHEN ASSESSING CREDIT RISK. 15

SECTION

BEING PREPARED WITH YOUR HR CAN HELP YOUR BUSINESS SURVIVE DIFFICULT TIMES, AND SAVE JOBS IN THE LONG TERM.

Embracing HR How HR can help you navigate through a recession

O

ne purpose of HR is to give your business protection and flexibility. Never is this more important than during difficult economic times. Paula Fisher, Managing Director of Practical HR, discusses some HR areas to consider that will help you navigate the choppy waters.

Paula said “I have been working in HR for long enough to remember many situations that have had an adverse impact on business. These include the banking/credit crisis, the fuel crisis and even foot and mouth. Recently we’ve had COVID and now we are facing a recession.

COVID saw support from the government as never before with the Furlough scheme, but it is unlikely that such support will be available again as the government simply cannot afford it.

But that does not mean you cannot protect your business and have flexibility.

In fact, it is the responsibility of business leaders to ensure, as far as possible, that the business is protected, as the alternatives are pretty grim!”

provide protection and include specific clauses. Here are just 2 clauses that are recommended in your contracts:

Contracts of employment

• Short time working and layoff This clause allows you to put people on short time working or lay them off if there is a downturn in work.

Furlough was a version of this – but with government funding.

Why is it important? Because it can allow you to reduce your salary bill quickly to help you survive the most difficult times.

Paula said “By way of an example, during the credit crisis we had clients who were losing business overnight as contracts were pulled or put on hold.

Implementing short time working or laying people off, allowed the business time to recover or find new business without having to make redundancies and lose their workforce.

We had lots of examples of businesses who survived because of this level of flexibility. And while this was really tough on the individual effected, it actually saved jobs in the long run.”

It’s essential that you have good contracts of employment. Good being the operative word, as not all contracts are equal. You need contracts that

• Deductions clauses You need to watch costs at any time, but especially during a recession, and it can

You can access HR guidance and templates on the subjects outlined above by visiting the BITA HR Portal at https://bita.yourhr.guide/, which is provided by Practical HR. Practical HR also offer HR Portals, outsourced HR services and general HR support and consultancy on all areas of HR and employment law.

Contact details: 01702 216573 • paula@practicalhr.co.uk • www.practicalhr.co.uk

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be frustrating when company property is damaged or lost and you have no way of recouping the cost. A clear deductions clause can help and encourage the behaviour you want i.e., for employees to take care of company property.

“We’ve seen lots of examples of this, but one that springs to mind was when an employee was having a very bad day and threw their laptop on the floor! There were lots of issues around this, but one question was ‘who’s paying for the broken laptop?’. A clear deduction clause answers that question”.

This can also cover things like damage to company vehicles (why is it always the same people who seem to do this?), or it may be the cost of a training course and then the employee resigns so you don’t get the benefit. All these situations can be protected with a good deductions clause.

You can find more information, template contracts of employment and additional clauses on the BITA HR Portal.

Redundancies and restructures It’s not always possible to save jobs in a recession and if it becomes necessary to reduce head count, it’s important to follow the right procedures to avoid claims – as the last thing you need is the headache and cost of an employment tribunal when times are already tough.

A fair redundancy and/or restructure is about following a fair process and consulting with people. It’s always advisable to take advice on this so you don’t leave yourself vulnerable.

You can read more on the BITA HR Portal and access guidance and templates to help you manage any redundancy process.

Training Solutions Whether you are looking to keep your staff up to date with their knowledge or simply update skills, PIB Risk Management offers a wide range of national accredited courses by several awarding bodies including: > > > > > > >

The Construction Industry Training Board (CITB) City and Guilds The Institution of Occupational Safety and Health (IOSH) QualSafe The Regulated Qualification Framework (RQF) UK Asbestos Training Association (UKATA) National Vocational Qualification (NVQ)

With extensive expertise in the construction sector, we combine practical experience, knowledge, with trusted training skills to design, develop and deliver training courses for your organisation. > > > > >

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07511183459 tom.marshall@pibrm.com pib-riskmanagement.co.uk

PIB Risk Management is a trading style of PIB Risk Services Limited. PIB Risk Services Limited is authorised and regulated by the Financial Conduct Authority, Firm Reference Number 308333. PIB Risk Services Limited is registered in England and Wales. Company Registration Number 02682789. Registered Office: Rossington’s Business Park, West Carr Road, Retford, Nottinghamshire, DN22 7SW.

LAURA WATKINS 18

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TECHNOLOGY

The Future of Meat The Argument for a Clean Meat Revolution

T

he thought of tucking into an insect loaf instead of a turkey come Christmas 2030 has me concerned and now I’ve mentioned it perhaps it’s also concerning you! But if an increasing number of news articles are anything to go by, forcing down mealworms and crickets is the price we must pay for our current obsession with meat. Or is it? Not wishing to succumb to a lifetime of beckoning insectavorianism or even vegetarianism, I was motivated to investigate other avenues, and came across cultivated, ‘clean’ or lab grown meat.

As far back as 1931 Winston Churchill predicted we would eat cultivated meat; declaring “We shall escape the absurdity of growing a whole chicken in order to eat the breast or wing, by growing these parts separately under a suitable medium.”

Sadly, this didn’t happen by the 1980s as Mr. Churchill predicted, but we are slowly making headway and scientists have been working on lab grown meat since the 90’s.

Cultivating meat is a bit like creating a building, it requires the right environment, a solid framework, and the right bricks.

The cells (bricks) from a healthy animal are introduced to a scaffold (framework) on a growth medium in a sterile lab (right environment) and induced to multiply.

To hazard stretching this metaphor to the limit, you also need to arrange utilities, but instead of electricity and water, cultivated meat requires the right nutrients. This might sound off-putting at first, but hotdogs and Lucky Charms aren’t exactly natural either and we eat them. Is this very different?

The negative impact of the meat industry is huge, and lab meat offers us the rare chance to eat our cake and have it too. Although many will be put off by the idea of lab meat, we must overcome

AN INCREASING DEMAND potential aversions or resign ourselves to menus that include a lot more vegetables, and possibly, crickets.

Challenges to Change Not everyone is as keen to embrace lab meat, and there are a few reasons why the public might find it difficult to stomach.

Lab grown meat isn’t just a new food, it’s new science. Understandably there will be concerns about the safety of the meat and its health benefits. Some will find the whole idea off-putting.

Concerned with profits, any business reliant on animal products will likely do their best to exacerbate these worries.

These businesses won’t be willing to kill off their cash cows without argument and will likely fight against meat producers that can dispense with cows entirely.

With enormous start-up capital required for lab meat research and production, it is critical that there are consumers. Even accounting for sceptics, a global population of 9 billion still offers a large market for lab meat pioneers.

What of those that don’t eat meat, or who must follow certain food rules? The 1.5 billion vegetarians might be willing to try lab meat, but what of the 2 billion Muslims and 15.3 million Jewish people?

Nahdlatul Ulama, Indonesia’s largest Muslim organisation, has decided that cultivated meat is haram, or forbidden.

Other Muslim and Jewish organisations are still deliberating.

Whatever these organisations decide, there will still be people willing and excited to try cultivated meat.

Informing and preparing the public will be challenging, but by focusing on the benefits of embracing lab meat, the only thing separating the excited from the reluctant, will be time.

FOR MEAT, AND THE ECOLOGICAL IMPACT OF REARING THE REQUIRED ANIMALS, IS SPURRING INCREASING INVESTMENT IN THE DEVELOPMENT OF ‘CLEAN’ OR LAB GROWN MEAT.

The Case for Cultivation As mentioned earlier, insects are often championed as a meat replacement, as they take up a fraction of the land and resources required for livestock. Longhorned grasshoppers are 34 – 45% protein and are already enjoyed by millions. So why not look to our winged and crunchy friends as a solution to our over-reliance on meat?

To those with a western palate, the thought of eating insects is distasteful, only to be attempted at the last extreme of hunger or because of a drunken bet.

It will be a struggle to convince people otherwise. And from a global point of view, a meat rich diet is seen as an indicator of success. As nations become richer, the taste for meat continues to increase (see table: The Growing Demand for Meat) while the demand for insects decreases. Expecting developing nations to switch or stick to insects and curb their meat consumption, when appetites in the West have been so rampant, is unfair. It’s also unrealistic. Developed nations that have long contributed to the issue need to become leaders in the cultivated meat revolution. It doesn’t look like this will happen any time soon.

The growing demand for meat is already driving businesses to find inventive

FANCY A TASTE?

Labs are currently able to create meat that has a mince link texture, but filets and joints are probably at least a decade away. Unexpected difficulties in development have meant that the industry has continually failed to keep with self-stated timelines for product availability.

However, if you are in Singapore, and have a spare $50 USD, you can certainly try a chicken nugget from Eat Just (not to be confused with Just Eat!). In a world first, these nuggets were approved for sale by the Singapore Food Agency in December 2020. In November 2022, another cultivated meat company in California had a product approved as safe to eat by the US Food and Drug Administration. Change, however slow, is already happening. www.bita.ie

19

TECHNOLOGY

ways to rear more animals, faster, in closer quarters, to meet demand and maximise profits. In dystopian news, The Guardian recently reported that China has opened a 26-story skyscraper where they will mechanically raise and slaughter 1.2million pigs a year. Concerns around safety are already being raised, as even standard slaughterhouses can be petri-dishes for devastating illnesses.

Moving away from mechanised farming and towards lab meat would make slaughterhouses obsolete and mitigate the risk of creating deadly diseases.

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The USA, Ireland and others already consume more meat than they have capacity to rear, and the UK isn’t far behind, according to the Food and Agriculture Organisation of the United Nations. To meet this demand, we have increasingly turned to mechanised farming. Many of us omnivores turn a blind eye to leaked footage from abattoirs and slaughterhouses that show horrendous cruelty. We know that this isn’t rare, but habit and convenience make sure we keep buying products from these dismal places. Cultivated meat will

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provide the same product, made from the same building blocks, with the same texture and taste, with none of the bad (metaphorical) aftertaste.

The most important argument in favour of replacing livestock with the lab, is environmental. We all know about global warming and habitat destruction. Extinction rates are so high that we are considered by many scientific organisations to be in the middle of a sixth mass extinction. A study in 2021 found that a third of all global emissions are caused by our food systems, and according to the WWF, cattle ranching accounts for 80% of Amazon deforestation. Unicef has stated that 1 in 3 people globally don’t have access to safe drinking water, yet The Water Footprint Network has calculated that 15,000 litres of water are needed to produce 1kg of beef. It seems impossible that we will be able to continue as we have been.

Environmental, animal welfare, lack of space, and risk of disease are all pressures that suggest moving away from our meatcentric diets is no longer a choice. The choice we do have is what we eat instead.

Many may choose to walk the vegetarian path, and others may decide veganism or insects are the answer. For myself, I’ll leave others to enjoy their mealworm pasta and deep-fried crickets, I’ll be enjoying a steak – hold the cow.

KRISSY ROGERO

How Forex can save you money Five ways looking at your foreign exchange provision can help you cut costs in 2023 We have been told for a while now that 2023 is going to be tough but that doesn’t mean there aren’t still opportunities to make your money work for you!

Soundbites from experts worldwide are touting global recession, downturns in growth, increasing inflation, and housing market crashes.

The UK is struggling with the war in Ukraine still impacting of living and rising interest rates reducing demand for property while forcing up rental rates and creating a perfect storm to undermine the UK housing market.

2023 should be about saving, but making savings in the right places, being shrewd about utilising the services that are available to you and leveraging them to offset increasing costs.

Something often overlooked is saving money through your foreign exchange provision.

This can be a smart way to save money quickly without cutting back on other areas of your business.

We know it’s not always easy to see the true cost of foreign exchange, so at Moneycorp, we start every client relationship with a free audit.

By looking at up to 12 months of data, including the times and dates of your transactions, the exchange rates, and the type of products your business uses, and what currencies you trade, we help paint a clear picture. This allows us to understand your foreign exchange history and the needs of your business to show you accurately how and where we can save you money.

Moneycorp can then help you protect your business from unwanted exchange rate movements with various strategies to suit your risk appetite and business plans.

Here are our top five ways to save money by optimising your foreign exchange provision: 1) Make sure you’re getting the most competitive rates When you’re exchanging large amounts of money; a small difference in rate can make a big impact. We source our rates through our panel of 18 liquidity providers and, but many banks are bound by a single rate.

Make sure you’ve managed your execution risk because depending on how much you’re exchanging, the difference could be in the thousands – multiply that over the year, and your savings become significant.

2) Avoid unnecessary fees Watch out for hidden costs – some foreign exchange providers charge you to open a corporate account and to hold various currencies, while others charge fixed fees on transfers. Compare the fee structure against your foreign exchange needs, as different providers will work better for your business.

3) Open a multiple-currency account If you receive multiple currencies, make sure you have an account that supports that. It’s easy to incur charges and fees inadvertently when you receive different currencies into your UK bank account – and once it’s done, it’s difficult to do anything about it.

With an account that holds multiple currencies, you avoid these fees.

It’s an easy move to cut costs and we’ve seen clients save over $10,000 simply by opening a multi-currency account.

4) Protect yourself against risk In 2022 the GBP/EUR rate fluctuated between 1.21 and 1.07 during the year; this represents a difference of more than 12%. The impact of these fluctuations are present all the time in business, for example when you raise invoices in foreign currencies.

In an ideal world, they would all be paid within thirty days but sometimes it can stretch over months. If there’s been a big swing in the exchange rates during that time, it’s bound to have meaningful effect on the trade - whether it eats into your profit margin or swallows it up completely. To mitigate this kind of risk, your organisation can explore Forward Contracts. This allows you to hedge the rates on invoices for future payments, protecting you against volatility.

5) Get some expert guidance Speak to one of our experts about a free FX Audit Krissy Rogero (Head of UK Corporate Partnerships) E: Krissy.rogero@moneycorp.com M: 07507 898 054

FX experts work with you to understand your exposure and suggest the most appropriate currency tools that will enable you to save money on your exchange transactions. An experienced currency management professional can execute your risk management strategy in line with your risk appetite and investment objectives.

Please note forward contracts may require a deposit. None of the information contained in this article constitutes, nor should be construed as financial advice. Moneycorp Financial Risk Management Limited (company number 5774742) is registered in England. Its registered office is at Floor 5, Zig Zag Building, 70 Victoria Street, London, SW1E 6SQ. Moneycorp FRM is a trading name of Moneycorp Financial Risk Management Limited is authorised and regulated by the Financial Conduct Authority for the provision of designated investment business (firm reference number 452443). Moneycorp is a trading name of TTT Moneycorp Limited and is authorised by the Financial Conduct Authority under the Payment Service Regulations 2017 (reference number 308919) for the provision of payment services.

www.bita.ie

21

International Exposure T

he ongoing cross-industry issues with labour and skills shortages have been discussed at length, but without much in the way of tangible solutions. Trying to find a solution can be like trying to find an oasis in the desert, but there are lots of different BITA members that can assist with upskilling employees, providing access to apprentices, scholarships and access to home and foreign labour markets.

However, we haven’t heard much about foreign interns: a potentially perfect solution to short-term labour needs.

Having a foreign intern for a short-term work placement (weeks to months) can bring numerous benefits to a business.

Fresh perspectives, improved intercultural communication, increased productivity, network expansion, and cost-effectiveness are just a few.

How Hosting a Foreign Intern Can Benefit Your Business

overall creativity. By embracing diversity, companies can gain a competitive edge in a rapidly changing business environment.

Cross-cultural exchange One of the biggest advantages of hosting a foreign intern in Ireland is the opportunity for cross-cultural exchange. Hosting a foreign intern in Ireland provides opportunities for cross-cultural exchange, which can have a significant impact on a business’s workplace culture and overall performance. Cross-cultural exchange can improve communication, creativity, and problemsolving skills, while fostering a positive and inclusive work environment. This can lead to more innovative solutions, improved productivity, and a more cohesive and harmonious workplace. By embracing cross-cultural exchange, businesses can become more dynamic, innovative, and competitive in the global market.

Fresh Perspectives One of the most significant benefits of hosting a foreign intern is the fresh perspectives they bring to the workplace. Foreign interns come with unique experiences and cultural backgrounds that can provide a new outlook on business processes and decision-making. This diversity of thought can help companies come up with innovative solutions to problems and enhance their

Increased Productivity Foreign interns come with a strong work ethic and eagerness to learn and grow. This, combined with their diverse skill sets, can help boost a company’s productivity and efficiency. By bringing in fresh talent and expertise, companies can streamline processes, improve their online presence, and reach new customers. This can

HIRING FOREIGN TALENT: A GROWING TREND? Hiring foreign talent is becoming increasingly common in the global business world.

Companies are seeking out top talent from around the world to fill key positions, bring fresh perspectives and ideas to the workplace, and tap into international networks and markets. The trend is being driven by factors such as the increasing diversity of the global workforce, the need for innovative ideas, and government policies that encourage the hiring of foreign talent. This trend offers numerous benefits to businesses, including increased diversity, access to new skills and knowledge, and the ability to tap into international markets. As the global business landscape continues to evolve, the hiring of foreign talent is likely to become an even more important aspect of talent acquisition strategies.

Finding the right person can be difficult

22

NIKS DRUVIS ANDŽĀNS

LABOUR

help companies achieve more in a shorter amount of time and get ahead of the competition.

Network Expansion Having a foreign intern can also provide companies with an opportunity to expand their professional network. Interns often have connections and relationships with businesses in their home countries, which can help open new business opportunities for the host company. For example, a foreign intern from Germany may be able to help a company connect with potential customers and partners in the German market. This can be particularly valuable for companies that are looking to expand into new markets or explore new business opportunities.

Cost-Effective Finally, hosting a foreign intern for a short-term placement is often more cost-effective than hiring a full-time employee. This allows companies to test the waters with a potential employee before committing to a long-term relationship. It also provides companies with an opportunity to bring in new talent and expertise without incurring the costs associated with hiring a full-time employee. For example, a company may choose to hire a foreign intern to help with a specific project or task, without committing to a long-term employment relationship.

Having a foreign intern for a short-term work placement can bring numerous benefits to a business.

From fresh perspectives and improved intercultural communication to increased productivity, network expansion, and cost-effectiveness, companies that embrace diversity and welcome foreign interns can reap the rewards of these advantages and stay ahead of their competition. So, if your company is looking for new ways to succeed in today’s dynamic business environment, consider hosting a foreign intern for a short-term work placement.

CONTINUING BITA’S FOCUS ON CLOSING THE SKILLS GAP AND PLUGGING THE LABOUR SHORTAGE, WE HAVE SPOKEN TO RALF PARTNERSHIP AND BLACKBULLION (PAGE 25) TO HEAR THEIR INNOVATIVE SOLUTIONS TO THIS THORNY ISSUE.

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23

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LABOUR

Addressing the Skills Shortage Jon Hering from Blackbullion, considers alternatives to apprenticeships to funnel new talent into businesses

T

he divide between employers and young talent is exacerbating the already pressing skills shortage in the UK. While apprenticeships continue to be a sustainable solution for businesses with the resource and capacity to train young people over 2 - 5 years, there is a more immediate need for highly skilled, graduate talent that businesses are struggling to access. The problem is twofold.

Firstly, more students are being forced to leave university without completing their course due to the rising cost of living and limited support options available. However, what seems like an insurmountable cost for students, particularly those from the lowest socio-economic backgrounds (LSEBs), can often be a relatively small cost for a business.

Secondly, for those industries that already struggle to attract young talent, (i.e. construction, utilities, accountancy, etc.), it means losing work-ready talent that could have an immediate impact on the organisation. If businesses cannot find a way to access the students who are already equipped with the specific skills they need, it threatens to intensify the skills shortage and stunt the growth and profitability of several industries.

Simply put, businesses are losing talent and students are losing opportunities.

The problem The question of how to access, attract, and hire young talent will be a vital component of future strategy for businesses across the UK. Take construction; today, fewer young people are applying for jobs in the industry, because they are unaware of the wealth of progression opportunities that exist there. Businesses that are not visible to Gen Z will see their workforce continue to age and their labour shortage worsen.

As the workforce grows older, businesses face another constraint on a key resource: time. Apprenticeships continue to be a great route for young people into various industries but come with significant time and capital commitments that many businesses are unable to meet. For these businesses, the reality is that skills are needed now and at a price that means they can access high-level talent without affecting their bottom line.

Businesses also need to account for the future. While they need to find a way to invest in the untapped talent pools that already exist, they also need to create strategies and identify partners, to ensure they have work-ready graduates coming through their doors for years to come.

The solution We believe scholarships are the solution. As well as being a fantastic tool to help students reach the end of their degree, for businesses, scholarships build brand awareness and loyalty while ensuring that skilled talent comes directly to you.

For businesses without the time or money to make the long-term investment in apprenticeships, scholarships also offer a faster option. Targeting students in their second year means you’re giving those students the small bit of extra support they

HOW DO YOU ACCESS, ATTRACT, AND HIRE YOUNG TALENT?

need to finish their degree and arrive at your business work-ready.

Scholarships also offer a low-cost solution for businesses needing help to build the reach and scale of their recruitment efforts. We typically see about 300 applicants per funding opportunity, which means if building a talent pipeline is one of your critical business challenges, then accessing the contact information of hundreds of students for an investment in just one is a bit of a no-brainer.

In addition, you can create scholarships bespoke to the exact type of talent you need. It will also offer you the chance to show the diverse range of opportunities available and, in turn, create a workforce that reflects that diversity. Taking this approach significantly reduces recruitment costs from both a time and outreach perspective. Once a scholarship is created, the talent will come to you. Over time, you’ll develop a pipeline of talent that is diverse, committed, and equipped with the skills your industry needs.

What can you do now?

Scholarships create enormous opportunities for students and have the added benefit of highlighting your brand’s commitment to social value. Even premier brands such as Wise (formerly TransferWise) and FTI Consulting have partnered with us to make an impact on this space. If you are facing recruitment challenges, hoping to diversify your workforce, looking to build brand awareness, or simply want to create real social impact for struggling young people across the UK, please join us.

Reach out at: jon@blackbullion.com

www.bita.ie

25

Getting Prepared The last few years have been anything but ordinary for businesses up and down the country, and indeed across the world. The Covid-19 pandemic brought unprecedented levels of business interruption and financial uncertainty, yet this was only the first in a series of challenges which followed, including the war in Ukraine, disrupted supply chains, staff shortages, soaring energy bills, and an impending recession.

Jason Greenhalgh of Begbies Traynor provides 6 tips to help you prepare for difficult times

Many company directors will be entering 2023 filled with a sense of trepidation, as an uncertain economic and trading landscape is made all the worse for the huge number carrying the additional burden of debt in the form of CBILS or Bounce Back Loans.

While the challenges facing businesses are undoubtedly daunting, there are steps you can take to put your business in the best position possible to weather the storm.

1. Take stock of the situation – A cash flow summary will establish how much money is leaving and entering the business. This is a great starting point from which to determine if the company is in the position of being able to meet its outgoings as and when they fall due and, if not, give a sense of the shortfall the business is up against. Being brutally honest about the short-term outlook for the company could mean admitting the business may be in difficulty – while this is a tough thing to do, it is actually the best starting point for turning the situation around.

2. Talk to creditors – Although you can sometimes feel like you are on your own in the difficulties you are experiencing, rest assured you are not alone. Even those companies who have not been impacted will be well aware of the struggles others are facing, and would much rather know the position your business is in rather than having requests for payment ignored. Keeping a line of dialogue open with creditors can be extremely useful in helping to smooth negotiations further down the line.

3. Talk to debtors – As well as monitoring money leaving the business, it is also necessary to keep a very close eye on money coming in. If you have customers who owe your company money, you need to ensure your collection processes are as robust as they can be. You should remain in contact with debtors and chase for payment where appropriate. Knowing which customers are in a better position to pay can help you focus your efforts and maximise your returns.

4. Streamline the company – Undergoing a streamlining process can help to cut waste and boost your cash flow. Taking a strategic look at a company’s operations will highlight any underperforming areas which may be having a detrimental effect on the business as a whole.

Divesting the company of these unprofitable areas will allow money and manpower to be diverted to more profitable areas of the business.

5. Keep staff updated – As much as directors may want to hide the company’s problems from their employees, it is highly likely that staff will be aware that the business is facing certain challenges.

Staff worried about job security are unlikely to be working at their most productive level, so it may be advisable to reassure them if the situation becomes obvious. Ensure that paying wages is prioritised and keep staff updated if any changes occur. The alternative is that valuable, hard to replace staff may seek employment elsewhere, compounding the problems for the business.

6. Assess any outstanding finance – You should look at the level of current loan repayments and make a note of when fixed loan repayments come to an end. A consolidation of loans may be appropriate, or shopping around for cheaper finance options.

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FINANCE

IGNORING ISSUES DOESN’T MEAN THEY AREN’T THERE! TACKLING CONCERNS QUICKLY WILL GIVE YOU MORE OPTIONS FOR FIXING THEM.

In conclusion, don’t ignore problems.

When it comes to company distress the sooner action is taken, the more options will be available to provide help. There is a range of business rescue and recovery options which can be used to turn a company’s fortunes around. This may include a process of financial and operational restructuring, entering into negotiations with creditors, or getting some breathing space if legal action is on the horizon.

A licensed insolvency practitioner will be able to assess your current position, and work alongside you to put a plan in place to resolve the problems of the company.

Initial consultations are free, and all discussions are in absolute confidence.

For immediate help and advice, contact Jason Greenhalgh on 0161 837 1700 or Jason.greenhalgh@btguk.com

www.bita.ie

27

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BITA Chapters: Community Round Up

Supporting our Members in 2023

BITAIntl

PEOPLE WHO KNOW PEOPLE THAT HELP PEOPLE

www.bita.ie

• HR Hub • Health and Safety Hub • Net Hub • Mentors and Specialists • Special Offers • Resources Hub

Exciting News for BITA Ireland!

Community in Cork Patrick Kierans, New Chair of Cork, expresses what members can expect for 2023

F

ollowing my appointment as Chair of the BITA Cork chapter, I and the board were delighted that Tina Coy remained on the Board to help continue the development of the chapter and support its members.

2022 provided members from across Cork, the rest of Ireland and across the UK to come together to meet at our October event, share best practice and at the first BITA member showcase; present their innovations within sustainability both in terms of environment and community.

Community and the support of members continues to be at the heart of the membership in Cork and we are proud to be supporting a local charity, Cork Penny Dinners in 2023. They provide hot and nourishing meals to the needy in Cork and will soon be able to produce their own fresh vegetables thanks to a partnership forged with Tower Gardens, manufacturers of an aeroponic garden system, through BITA. You can see more about an incredible initiative with Penny Dinners and some of our members on page 42.

The project and the support from members are testimony to the kind of discussions and impact our lunches can have, as this amazing work started at our October event, where we heard from

COMMUNITY

DUBLIN

GALWAY

AND SUPPORTING MEMBERS IS AT THE HEART BITA CORK.

CORK

Catriona Twomey, a volunteer with Cork Penny Dinners. She spoke about the importance of the charity’s operations during these tough times, and how vital support from the business community is, in ensuring its continuation. We are thrilled to have helped.

Next on the agenda is a networking lunch being held at the stunning Imperial Hotel, on the 31st March! This will be another excellent opportunity for businesses across Cork and beyond, to get to know each other and expand their businesses.

Cork city center

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COMMUNITY

Ireland West gathers momentum Tara Flynn, New Joint Chair of Ireland West, is looking forward to growing the chapter

W

hile Ireland West is a relatively new and developing BITA chapter, we are excited about bringing all the benefits that BITA offers its members to businesspeople west of the Shannon.

As the BITA community grows and our Ireland West chapter gathers momentum, our board members and BITA members are all experiencing successes whether that is in the form of introductions, collaborations, or even sharing business successes and advice with one another.

There is always value in networking with likeminded people.

Board members and chapter members support, assist and provide advice to each other, and the direct connections into other BITA chapters throughout Ireland the UK and further afield continues to be invaluable for our members. We are hosting our first event of 2023 in the Hardiman hotel on the 10th March, where we will be hearing from Peter Kirwan of the Halcyon Group who is a sustainability expert. We hope to see you there.

Galway City (Ireland West)

Following two years of careful steering and hard work by Ireland West Chair Paddy Tamplin, he is stepping down for 2023, and his big shoes are being filled by new joint Chairs: Tara Flynn, Director at Paul Flynn Construction, and Deirdre Hynes, from Irish Jobs. Supporting them as Vice Chair is an exciting new presence, Sophie Long. She is an apprentice auctioneer and valuer at BV Real Estate.

We’d like to remind everyone of the importance of attending events; relationships are built off face to face

meetings! This has worked well for Ireland West Chapter member Patrick McDermott of DigiTally. After attending Liverpool Chapter events, he has developed connections and clients across the northern powerhouse following introductions from BITA members within the Liverpool chapter. He is excited about the business opportunities present in this area.

As we grow our chapter, we look forward to connecting more people and generating more opportunities for our Ireland West chapter members.

Plans for Dublin Billy Griffin, new Chapter Chair of Dublin, on his plans for 2023

F

ollowing the incredible stewardship of Aidan Scollard, I’m excited to take on the mantle of Dublin Chapter Chair, and to continue to grow the chapter. We are all thrilled that Aidan will continue on the board.

The BITA Dublin Chapter are having our first breakfast networking meeting of the year on the 7th of March at the Talbot Hotel in Stillorgan. Gas Networks are sponsoring the event and their Head of Business Development, Karen Doyle, will give the presentation on how Gas Networks plan to reach net zero by 2050, and the infrastructure that will be needed

to achieve it. There will be opportunities before and after the presentation for networking among members. As sustainability is a focus area of BITA and their members, we are thrilled to be working with Gas Networks, and look forward to hearing about necessary future plans.

We hope to have another breakfast networking event in May, and we believe that these events will give our members scope to get to know each other better, and to create opportunities for doing business in Dublin as well as the UK. We are also planning to have three other gala evening events in the latter half of 2023, and we look forward to announcing these. We urge all BITA members to keep an eye on the events pages of the website, where new events will be promoted [www.bita.ie/events].

For now, we are looking forward to the Gas Networks breakfast event and we hope to see you there! www.bita.ie

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Hearing from the Powerhouse Innovative

Leeds

Ches Moulton, Chair of Leeds, investigating the opportunities available in this fantastic city

INCLUSIVE GROWTH LEEDS HAS A MISSION TO MAKE A HEALTHIER, GREENER AND INCLUSIVE ECONOMY.

BITA Banger

Bonanza

Brendon Kenny, Chair of IOM, is launching an exciting new event!

Who is up for the BITA Banger Bonanza Challenge?

Contact Brendon Kenny brendon@galtippsolutions.com 07875 008159

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T

he Leeds Chapter is reinvigorated for 2023, and we are excited about the year ahead.

We have welcomed an exciting and dynamic new board, who are all committed to helping BITA members benefit from connections in Leeds.

Leeds is a growing city, and recent news has announced new funding from the City Council designed to help aspiring business innovators get their ideas off the ground.

This funding makes up the Innovation@Leeds programme, a recently launched tranche of funding that is offering grants to organisations that can help entrepreneurs develop their own businesses. This funding forms part of an overall strategy for business growth in Leeds: Inclusive Growth Leeds. Their mission is one that we can really get behind at BITA: To Make a healthier, greener and inclusive economy that works for everyone. Working with local businesses, globally renowned educational facilities and the council, they will be publishing a new plan for growth in the city this summer.

Anyone who has been to Leeds will know how vibrant it is, and how much it has to offer.

With this focus on investment in new ideas, new technology and new people, we believe that we are witnessing the opening of an exciting chapter in the life of this historic city.

We are also optimistic about the launch of Employment and Skills Leeds, which is offering support to people looking for work, as well as providing crucial training and apprenticeships to address the skills shortages in a range of industries.

For any BITA businesses looking to expand into Leeds and capitalise on these incredible opportunities, get in touch with us! Our social networking evenings are held on the second Wednesday at Banyan Bar, and we’ll be announcing bigger events for Q3 2023 soon.

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ome one come all to the Isle of Man, where they are hosting another event with a twist!

BITA Isle of Man has a track record of doing things slightly differently within the BITA community. Polo gala days, three-day events and sustainability conferences have all been hosted by BITA board members on this stunning island between the UK and Ireland.

This year is no different, and April will see another exciting series of events, kicking off with the banger bonanza! BITA members will be purchasing their bangers, slapping on the livery, and meeting up in Liverpool to form a good old fashioned convoy to the Isle of Man! Brendon Kenny, Chapter Chair of the Isle of Man has taken this challenge to another level, as he lives not far from the ferry terminal he has decided, to make it more interesting, to drive to Stockholm, Sweden and then travel directly to the Isle of Man in his £1000 car: approximately a 3000-mile round trip.

After getting off the ferry, our hero banger drivers will go to the rallying point in time to join in the fun of two racetrack days and a lunch.

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The charity, Speed of Sight, is holding a 2-day event on the island on the 25th and 26th April where the founder, ‘Superhuman, Mike Newman BEM’ is creating memories for 50 Manx residents who are disabled, partially sighted or blind. They will be driving circuits of a racetrack in the north of the island in duelcontrolled Caterham’s. It promises to be a wonderful 2 days giving disadvantaged people an opportunity of a lifetime.

Following this exciting two-day event, BITA IOM will then be hosting a networking lunch with Mike Newman as the keynote speaker. Mike is a 9 times world record holder on a bike, in a car, on a boat and in the air.

The most amazing thing is that Mike has been blind from birth.

COMMUNITY

Marketing

Manchester Tim Ternent, Manchester Chair, outlines the successes and community in Manchester

W

ith a drive and focus to support members and create a community across Greater Manchester where there is collaboration and support, the board was restructured in the summer of 2022. This restructure and focus on providing members with opportunities to meet and engage has seen the BITA community grow substantially both in reputation and membership.

Since the change in location for our monthly socials to its now permanent residence at The Clayton Hotel, attendance by key business owners across multiple sectors including IT, Finance,

Growing

Liverpool

Sarah McCartney, Chair of Liverpool on how 2023 is proving to be another year of successes and growth for the Liverpool chapter

Technology, Construction and related services has increased. It has also been great to see members from other chapters across the UK also join the events and further our members business reach.

To provide members with insight to areas where they may look to support the local community, we are continuing our successful work with the team at Fréa Irish Charity Partnership, who work within the Irish community across the north of England, focusing on improving the health and well-being of vulnerable members of the Irish communities. We have also now added Speed of Sight to our charity focus for 2023 and look

2023 is proving to be another year of successes and growth for the Liverpool chapter.

The recently restructured board which has broadened our support into sectors of property development, finance, construction supply chain and hospitality, has been key to this success and is integral to achieving our goals as a chapter for this year.

Our focus continues to build on the growth of last year where we saw a number of members really embrace the essence of BITA and work with the membership to provide not only key support and best practice, but also to use the ecosystem of the membership and its wider connections to create a robust supply chain of like-minded businesses.

We are looking forward to continuing with our successful Anfield lunches, supported by the team at Liverpool Football Club and will be adding smaller more sector specific events where we can discuss key challenges being experienced in the sectors and what we can do together to affect positive change.

In addition to this, we continue to build relationships with key stakeholders in the city and as such, held an exclusive audience with Theresa Grant OBE, CEO of Liverpool City Council in early February. At this event our

forward to hearing from Mike Newman OBE, at our forthcoming luncheon on the 24th of February. Mike is a 9 times world record holder for a number of speed challenges both on land and water and has been completely blind since birth.

Speed of Sight is a charity that provides life changing driving experiences for the blind and disabled.

We have a full program of events including luncheons, sector focused events and a Northern Golf Day to further add to our monthly socials which we hope will provide further opportunities for members to grow both their business and strategic relationships.

member heard about the vision for Liverpool as a region, what they are looking for in respect to the built environment and where the focus is around sustainability. We will be communicating key information regarding plans and how our members can shape their offerings to suit.

Along with our lunches, we continue to come together each second Thursday of the month for our social networking so there are plenty of opportunities to meet and build strong relationships with our BITA family.

Stretching Across the South News from

East Anglia

Chair of East Anglia, Luke Piper, explores the opportunities in his area

HISTORY, BEAUTY, TECHNOLOGY HUBS AND INVESTMENT, MEAN EAST ANGLIA IS A GREAT PLACE FOR BUSINESSES.

A

ccording to the latest government statistics, the East of England has the highest employment rate in the UK – a whopping 79.2%, and as a region, has the third largest number of private sector businesses coming in just behind London and the South East.

According to research from BDO UK, around a quarter of businesses in the region are investing in upskilling and retraining staff in efforts to increase productivity.

The East of England is also a beautiful area, that is home to one of the most visited cities in the UK, Cambridge. With historical landmarks, vibrant towns and cities and beautiful landscapes, East Anglia hosts millions of visitors a year, with Cambridge alone attracting over 8 million

per annum, who contribute £835 million to the economy.

Businesses can also find incredible young minds in the region. Globally respected research institutes including Norwich Research Park, and Cambridge University are draws to some of the finest minds that the UK and the world have to offer.

All of these factors combine to make East Anglia an incredible place to do and establish business. With BITA East Anglia, we want to be a place that outside businesses can come and make these valuable connections with our area. Whether that’s setting up a new business, opening a satellite office, tapping into the expert labour market, or just forming beneficial business relationships, East Anglia is the place to go!

Hearing from the Southwest Orla O’Leary, Chair of the South West Chapter, on why her eye is on hospitality

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fter a challenging launch of our Chapter in 2021 in the midst of the global pandemic, we are now continuing on the success of last year by focusing on supporting businesses in the key regions of Bath and Bristol, Exeter and Cornwall.

Across the regions we will be providing a number of events to provide businesses with an opportunity to connect with likeminded people and grow both company and support network.

Our membership and board work across a number of different sectors including, hospitality, finance, and construction and as such several of our events will be tailored to specific sectors with a view to provide discussion and explore solutions the BITA

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community can provide to challenges being experienced. We are working closely with the newly launched Hospitality Division, as two of the South West board: myself and Nicholas Challen, are also on the hospitality board. We are very passionate about this new division as the hospitality sector makes up such an important part of the industry in the Southwest.

COMMUNITY

Growing

London

Bridie Cunningham, Chair of the London Chapter, is looking forward to expansion in 2023

O

ur London community continues to grow and to provide a robust support network the London Board is growing with it, bringing a wealth of cross sectors experience and a broad connection base.

Our new board members are Nicola Barden, Managing Director of her family business, BSF Solid Surfaces Ltd; Troy Gallagher, former Lord Mayor of Islington, and Drew Montague, The Fine Wine Guy. Each of these members have been involved with BITA for a while and look forward to contributing, adding value and supporting us to grow the chapter to develop further.

As part of our success and that of BITA, we were delighted to support the organisations 10th Anniversary with a special construction lunch hosted by the Lord Mayor of London at the beautiful Mansion House on his last day in office. Members came from across the country and Ireland to help us celebrate

Launching

Surrey

Chapter Chair of newly formed BITA Surrey, Shane Manogue, has great plans for the area

and congratulate our key supporters with individual awards that were given and received with pride.

Throughout 2023, we will be hosting several focus evenings showcasing some of our expert members around key themes (all of which can be found at www.bita.ie/events).

This started in January with an event in the wonderful private members club Home Grown “Making 2023 the best for you and your team” An event focusing on hiring the best team, leading the best team, looking after the best team and being part of the best team featuring three of our members Bridie Cunningham - Portman Scott, Paula Ruane - Stress and Resilience Training Specialist and Baiju Solanki - Speaker, Author and Sniper Coach, which was a huge success.

We look forward to seeing you at one of our events soon to explore how the BITA community can support you and your business.

T

he Surrey Chapter was founded 2023 and regularly meets at the Kingswood Arms for their Monthly social networking evenings on the third Thursday.

Nestled in the South-Eastern part of England, Surrey is a county with unparalleled natural beauty. Characterised by acres of rolling meadows and fragrant breeze, a rich history of art and architecture, vibrant market towns, historic castles and the quintessential English villages that look like they have come alive from a picture postcard. The leafiest county located very close to London, Surrey enjoys great connectivity and proximity to city life.

Surrey is a major economic force in present England and boasts of the highest per capital income outside the capital. Owing to the stable economic strength, a large number of multinational companies have opened up their branches in Surrey. Electronics giants like Toshiba, Whirlpool, Philips, Samsung

and Canon are housed here. Alongside the pharmaceutical giant Pfizer based off the Dorking road.

Surrey has a significant presence both in England’s history and its popular culture. A county with a thriving music, art and literature traditions, Surrey is a taste of modern England.

In 2023 the Surrey chapter has chosen to support the charity Sutton Night Watch, which helps rough sleepers. To find out more about the work that SNW are doing and how you can get involved, please head to https://suttonnightwatch.com/ www.bita.ie

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COMMUNITY

Supporting the Future BITAx Chair Will Polston on BITAx successes and planned growth of the chapter

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ITAx finished 2022 with our first dinner event. The event was organised and run by BITAx members Tara Crossan and Kerry Dignam and was a roaring success with a request from members to have more of them.

The new year has got off to a flying start too, our first event was a breakfast event in London that was attended by numerous existing members and a few BITA members that took advantage of the event being the morning after the London chapters event.

I have also had conversations with Sophie Long who is keen to head up BITAx in Ireland - an exciting prospect!

It’s more important than ever that we take the time to support young people – workers and entrepreneurs – and help them into successful and fruitful careers. With the mentoring and support from BITA and BITAx members, I feel that we are really making a difference and am excited to see the expansion of BITAx to a wider audience.

This year we have focused on making sure that all BITAx members are looking to maximise their BITAx membership by attending BITA events too. Bridging BITA and BITAx members will be great for everyone.

A BITAx success story…

On 22/11/22 I launched TwentyTwo a medicinal mushroom supplement company. I first heard about Lion’s Mane (a medicinal mushroom) from BITA legend Dermot O’Grady after months of research and realised there was an opportunity and got to work. 18 months later from first hearing about it we launched and had used BITAx member Tiernan Dixons company Superbeam to do our videography work. The power of BITA helping make medicinal mushrooms mainstream!

Until next time… make it happen!

Business in the Garden Carly Northwood, Chapter Chair of Kent

O

ur beautiful Garden of England in Kent is blooming once again with a re-invigorated Board and lots of dates in the diary. The Kent Chapter is growing steadily, full of like-minded astute businessmen and women, all with the same appreciation of good conversation and strong, meaningful connections. Our events are regularly wellattended and whilst overhearing the general buzz of the room I can honestly say that the BITA mantra of “People who Know People that Help People” runs strong in our crowd. We often ask our members for feedback on their BITA experiences with an overwhelmingly positive response confirming that a simple conversation and recommendation has equalled success – 2023 is set to grow further with more exciting collaborations, member support and events.

Hot off the heels of our most recent collaborative event late in 2022 with Rift R&D, Gullands Solicitors and Whitecode Consulting and special panel guest BITA President Paul Whitnell, the Kent Chapter is set to continue with future joint events

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with existing and upcoming members relevant to topical issues that respective industries are tackling. Not only are these collaborative events a great opportunity to network, but BITA are also adding value to our attendees through knowledge, awareness, and education.

A regular feature of our calendar is the Kent networking breakfast, with the first being held in February, and the second planned for the 26th April. With over 50 guests, it’s a great way to kick off your morning! They are a great addition to our regular social evenings and annual golf day. If you want to do business in Kent, you can’t do better than BITA!

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COMMUNITY

Focusing on Hospitality The Many Opportunities of a New Division

T

here is a lot more to BITA than construction. We have members from nearly all industries; computing, retail, legal, finance, manufacturing, utilities and hospitality.

We work hard to provide our members with services, events, and support that will genuinely benefit their businesses and help them with their plans for growth.

The Member Support Hubs (including HR and Mentors) were all developed after listening to our members, as were different networking events. Last year we were approached by a few members who asked us to create a specialist Hospitality Chapter. We have had consultations with this group, which has since grown, and are now ready to launch our Hospitality Division!

Conor O’Donovan from Sefton Hospitality Group is the chair of this new division, and many of you will have met him at BITA events before. He is supported by Marian Cotter of StayCity and Orla O’Leary of Companies Hub (see more about this new venture on page 39), and Alexander Clayton from the Wyndham Grand Algarve hotel. If

you would be interested in lending your talents to the board, Ruth@bita.ie would love to hear from you.

Our Aim Why Hospitality?

Hospitality covers many different businesses. But the industry goes further than hotels and restaurants. Just as the construction industry can benefit from the contacts that they make in marketing, IT, recruitment, insurance and more, so can our hospitality businesses benefit from our connections in the wider business community.

This is also an industry that faces specific challenges. Construction has long had to deal with difficulties from labour and skills shortages, and the hospitality industry now needs to find new paths that will lead to staff, training, and connections.

The aim of the Hospitality Division is to focus on four main areas: • Improving Skills • Labour shortage • Homegrown produce • Easing exports from outside UK / Ireland

MEET THE HOSPITALITY DIVISION BOARD

Left to right: Conor O’Donovan, Sefton Hospitality Group Marian Cotter, StayCity Orla O’Leary, Companies Hub

HOSPITALITY IS A VIBRANT INDUSTRY THAT OFFERS INCREDIBLE OPPORTUNITIES FOR OUR MEMBERS.

38

To do this we will be working hard to develop new relationships in different areas that will create a tree of knowledge, experience and connections to help our hospitality members flourish, and that our non-hospitality members can tap into.

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It has become clear from our conversations with our members in hospitality that careers within the sector are no longer considered desirable, and people are deciding not to stay in the industry. We want to create a platform and offer the resources for people to tackle these issues.

BITA Divisions This would not be a chapter of BITA, as chapters are organised by area. A The objective is to ensure that members in the hospitality sector remain in contact with members in BITA from other industries to aid in cross-industry cooperation.

Any members of BITA that are involved in hospitality can also be listed in the Hospitality Division.

Next Steps BITA is planning a presence at hospitality industry events and will be planning online and face to face meetings in 2023. If you would like to be kept up to date about all Hospitality Division news and events, or are interested in joining the board, please contact enquiries@bita.ie

ORLA O’LEARY

SECTION

Stronger Foundations Accessing support to take your business to the next stage

S

etting up or expanding your business alone can be like trying to find your way without a map. It’s easy to disappear down the wrong road, and difficult to know when you are on the right one. Without an expert guide to step in and show you the right direction, you can end up back where you started.

Orla O’Leary is the founder of Companies Hub and has spent the last 12 years talking to business owners and operators looking for business advice.

Frequently she discovered that the problems stemmed from either a lack of strong foundations when setting up the business, or a lack of reliable expert advice. Companies Hub, a new resource in the BITA member support hubs, aims to fix both issues.

A familiar face to many of our members, Orla has been attending BITA events since 2018. She is the chair of the Southwest Chapter, and because of her business experience, has a keen insight into the struggles that business owners face.

“I was doing a lot of consulting work in 2020, and although my clients were in many different industries, I was coming up against the same challenges – what I would call a lack of fundamentals.” Says Orla. “I realised that there was a massive gap in available training, and that I could help businesses set solid foundations, without which, growth would be extremely difficult.”

There are many courses that claim to provide people with all they need to run a business, ranging from free, to thousands of pounds. But at the lower end of the scale, they are generic courses run for large groups, so they are unlikely to provide the required support.

Companies Hub is a training course that harnesses the knowledge of peerto-peer learning, with input and feedback

from experts, and a friendly guide to help keep people on track. The Companies Hub will help businesses with their fundamentals and set them up with strong foundations for growth. It also costs only £1,500 + VAT for the yearlong course.

The Hub is aimed at five main groups: • New businesses • Established business that need a push • Succession planning: training the person taking over • Exit strategy: separating yourself from your business • Fast-tracking staff into management Participants sign up for the course and join a group of between 10 and 15 people. Participants will be from different industries and at different stages in their business, but from around the same area.

They will meet face to face at the start of the course for a day where they meet course experts, network, and establish where their knowledge gaps are.

Following the workshop, the participants will then meet online weekly with different experts to address concerns ranging from managing stress, to the finer points of business accounting.

“There are a few USPs to Companies Hub, firstly the groups are small – between 10 and 15 people, maximum.

This means that the groups are small enough to tailor advice to their specific

circumstances, but still large enough that they can benefit from peer-to-peer mentoring.” Explains Orla.

“This creates a close-knit community that can connect the pieces, making sure that your business runs efficiently and importunately, that you are enjoying it!

There will be a wide range of expertise on offer including HR, finance, sales, marketing, legal and wellbeing: important whether sole trader or massive business.

“Participating in a course from Companies Hub will enable businesspeople to embed good practice from top down.”

Many of the experts feeding into this community will be familiar to BITA members, and Orla has been careful to make sure that there are a range of experts on offer in each area. It’s crucial that people connect well with their mentors, in both knowledge, price and personality. This range of options is another Companies Hub USP. After 12 months, participants will have finished a business course that is tailored to them and their needs, networked with experts in a wide variety of fields and have gained from peer-to-peer networking from those in their group.

A COURSE FROM COMPANIES HUB OFFERS TAILORED EXPERT ADVICE AND INVALUABLE PEER-TO-PEER MENTORING.

The Companies Hub flips the idea of the conventional style business programme on its head. We do not buy into a “One shoe fits all” ethos. At The Companies Hub no two programmes are the same as each programme is built around the participants ensuring they get the advice they need to grow their business with solid foundations supported by genuine experts.

If you are interested in joining Companies Hub as an expert, participant or both, please contact Orla who will be very happy to discuss in more detail: Orla1818@gmail.com | 07825350558 | https://the-companies-hub.com/

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COMMUNITY

Global Mission Focus Areas for 2023 are Sustainability and Innovation

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he BITA Global Forum draws together expertise of volunteers of ambassadors and stakeholders across the world, to tackle the big issues. For 2023, we are continuing to focus on sustainability and innovation.

A key area of focus will be to continue to raise the level of awareness around the overuse of plastics across all industries, and specifically the construction sector, using the #beplasticaware campaign as a springboard to rally people. The Global Forum is ideally positioned to be the conduit and originator for driving the message home about the need to reduce plastic use to protect the environment.

In addition, the Global Forum is working to enhance its partnerships with other likeminded organisations to support the #beplasticaware initiative and broaden its reach. Through collaborations with Changing Streams, Eye Sea, and the University of Liverpool, new ways of locating and disposing of plastics in the ocean are being developed, tested, and deployed.

There are some incredible innovations coming out of labs globally, from bacteria that eat plastic, to people like our own Tom Cotter at OceanR who create garments out of recycled ocean plastic.

Another focus area for 2023 is to broaden the number of opportunities for BITA Members to get involved in their communities to support the multiple organisations who are focused on cleaning up the environment.

With relationships now in place with Causeway, Beach Buddies, Changing Stream, Eye Sea, Plastic Busters, and World Clean Up Day, we will be actively promoting their various activities to ensure that BITA Members are aware of what is going on, and are actively working to help keep their local areas tidy and plastic free. Use of a clever app platform devised by IOM Chapter Chair Brendon Kenny will enable us to actively promote the regular clean up initiatives that are happening throughout the year.

All these organisations will be amalgamated under a single Global Forum app so that it can be shared with the BITA Community to educate everyone on what activities are happening and when. After that, it is up to each person to get involved if they wish, but we urge everyone to do what they can to make a difference.

Following the success of World Clean Up Day 2022 where we had an overwhelming turnout of BITA members, friends, and partners in Ireland,

the UK, IoM, IoW, USA, Turkey, and Australia to clean up their communities we will be supporting the initiative again this year.

It’s easy to fall into the trap of thinking that one person won’t make a difference, but if that were true, nothing would ever get done.

Last year, nearly 15 million people acting as individuals, groups and communities participating in World Clean Up Day, collected around 60,000

Tina Coy and Stephen Wilson Downey on the Cork Board participating in World Clean Up Day 2022

WE ARE HOPEFUL FOR THE FUTURE, BUT WE NEED TO ACCEPT THAT EVERYONE CAN MAKE A DIFFERENCE AND ENCOURAGE INCREMENTAL CHANGE. tonnes of rubbish from their environments. In one single day. We as individuals can make a difference, and we want to do even better this year – so sign up through World Clean Up Day, or the BITA website today.

Finally, the Global Forum is continuing to foster international opportunities for select BITA Members working in the sustainability and innovation space. If you would like to know more, please contact enquiries@bita.ie, or go online to the Global Forum Chapter to get in touch with the board members.

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LAURA WATKINS

SECTION

Growing for Green BITA member support fuels Cork charity expansion

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ork based charity, Penny Dinners, will be able to feed many more people across the city now they are working with Cork County Council and BITA member Tower Gardens to provide home grown vegetables to local disadvantaged people.

The partnership, facilitated by BITA President Paul Whitnell was financed by BITA member businesses Glencar, CField Construction, PJ Hegarty, and Ardent Tide.

The charity was founded in 1840, and their ethos is to “operate for as long as there is a need. To feed one person who is hungry is a worthwhile, simple, fundamental way to help that person.

The aim is to provide a warm, dry place to sit and eat, with a welcoming atmosphere, no questions asked, no judgements made all, are welcomed with courtesy. Service Users are expected to treat volunteers and facilities with the same respect and dignity that they are offered.”

Cork Penny Dinners (CPD) spoke at the BITA Networking Lunch and Exhibition in Cork on the 27th October 2022. They explained the crucial work that they do for people in the area that are struggling to get food on the table and detailed their work with the displaced in Ukraine.

Moved to try and help beyond just making donations, the business in the room wanted to provide further and sustainable support to the charity.

Paul Whitnell introduced the charity to BITA member Tower Gardens, who manufacture an aeroponic growing system that can easily grow fresh healthy food at home, in limited space, year-round.

Working with the Cork Council, CPD can now provide their service users with high quality vegetables, and even sell any excess produce to raise funds. Businesses Ardent Tide, Glencar, CField Construction and PJ Hegarty generously supported the initial set up costs, and the programme will be self-supporting moving forward.

Tower Garden will be arranging training and providing the plants and maintenance, to ensure the best performance from their system, and to maximise the amount of fresh healthy food on offer to Cork residents in need of a little extra help.

CPD Volunteer Coordinator, Caitriona Twomey, said “We have expanded from offering 150 meals a week, to 2,000.

The pressure on our services is massive, especially as all our staff are volunteers.

EATING HEALTHY SHOULD BE ACCESSIBLE TO ALL, AND WE’RE THRILLED WE ARE TAKING A STEP TO MAKE THIS A REALITY. We distribute food packages with tinned and dried food, as they have shelf-life, but have always been short of fresh food.

With this new partnership, we can provide our clients with fresh and healthy food, produced on our premises, with minimal effort from our volunteers. Eating healthy should be accessible to all, and we’re thrilled we are taking a step to make this a reality.”

There are many businesses keen to help their communities, but they don’t always know where to put their resources for maximum benefit. Networking organisations like BITA can join the dots between local needs and business capital to provide the best help for local communities. We urge councils to reach out to businesses and networking organisations and use their knowledge and contacts to help local people where it’s needed.

If you would like to support Penny Dinners with this or other initiatives, they will be very keen to speak with you!

You can contact them at – 4, Little Hanover Street, Cork Tel: 00 353 (0)21 4275604 Email: mail@corkpennydinners.ie

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Supporting the London Irish Centre (LIC) How your support has helped people in the community

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ITA has a long history of supporting charities and has been working with the Lighthouse Club almost since our founding in 2012. The Lighthouse Club has remained as a main charity of BITA, one that we continue to support as an organisation, and as of 2019 we have also been working with the London Irish Centre.

Since the Gala Ball in 2019, BITA has been working with the London Irish Centre (LIC) to raise awareness and funds for their incredible initiatives. The LIC has served the Irish community in London since it was first established in 1954 and continues to offer a range of services to people within the Irish community, some of whom have attended the Centre for many years.

Aligned to our core values, the London Irish Centre is sensitive and responsive to the needs of all people, and we want to extend our services to other communities as part of an inclusive, multicultural approach with the aim of building resilient and

cohesive neighbourhoods. From food delivery to cultural enrichment and befriending, the LIC works hard to achieve their vision of being ‘the Irish heart of London’. As an organisation with strong Irish roots, and a long-established chapter in London, we thought it was an ideal charity for BITA members to get behind.

In 2020, when we were seeing the impact of lockdowns, BITA decided to donate £20 to our two organisational charities; The LIC and the Lighthouse Club, each time a member joins us. This is an initiative that we continue today, and these funds go towards helping these charities help people in the community.

In 2022, we hosted our biggest event yet, our 10th Anniversary Gala Ball and Awards Ceremony at the Londoner Hotel, Leicester Square. We welcomed over 400 guests, and thanks to the generosity of our members, raised nearly £100,000 to support the LIC.

POEM WRITTEN BY ONE OF THE LIC BEFRIENDING CLIENTS Befriending is a gentle word, a kind word.

But also, such an important word.

Sometimes a time comes in life when we feel lonely.

It’s a feeling that can be difficult to express.

Perhaps we have aged, or our health has weakened, and we don’t have that strength or energy we used to have.

You become isolated, on your own, and it can pull you down.

But when there is a hand to reach out to, it’s good.

Time to tell a story, share some humour and maybe give a little of your experience. And to listen well.

We are human, we need that contact, it’s a life source to sustain us.

I value the hand that is held out to me, and I hold it with many thanks.

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COMMUNITY

Without our members, raising this money would be impossible. So many of you have been incredibly generous and we wanted to know, from the LIC, how the money raised has been used. So, in their own words:

Funds from BITA have help fund and start the following initiatives

• We opened our Community Fridge (foodbank) to provide free food donations for collection every week.

• We have increased our opening hours to provide a warm space for people to gather and connect for longer this winter, particularly those who are unable to afford to heat their homes or afford Wi-Fi. • We’ve grown our advice service offering, which covers housing, welfare benefits and culturally sensitive support like access to Irish pensions and planned repatriations • We’ve grown our support services which offer wraparound services to people that need additional help with things like passport applications, form filling and reading documents (as many service users are illiterate).

• We started a new Enablement Walk-in Clinic every

Monday, which supports people with complex needs and ensures they connect with appropriate services. Needs can include homelessness, substance misuse, social isolation/loneliness, mental health issues etc. All the officers in the above services provide one-to-one support to clients.

• We reduced the price of our community café lunches – where people can access a 2-course homemade meal for just £3.

• We were able to onboard 15 new befriender volunteers.

Befriending is a free service, where befriender volunteers meet up, have regular phone calls and chat with those that may be struggling with social isolation and loneliness.

• We’ve been able to provide new, free activities, such as wellbeing walks, beginners yoga, a new community choir & toddler club with free places available, traditional Irish music & live acoustic music every week to offer community and cultural services that are accessible to everyone.

We would like to thank all our members for enriching our community and helping us rise by lifting others. We will continue to raise funds and awareness for the LIC, Lighthouse Club, and the other charities supported by their local chapters. We are thrilled to hear that your support is making such an impact on people’s lives. www.bita.ie

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Helping our Communities People who know people that help people Paul Whitnell at the London Lunch in February 2020

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hen BITA was founded in 2012, it was to help fuel business growth and create genuine, lasting relationships in a friendly community for our members.

We styled ourselves as the ‘People who know people that help people’ and with that ethos, we have been incredibly lucky to attract some incredible businesses. Not content to pay lip service to this motto, many of our members were keen to help their communities, and so BITA started working with charities – both local and national.

Since 2012, through our members we have helped raise nearly £700,000 for charities across the UK and Ireland.

From the Capuchin Day Centre in Dublin, through to Penny Dinners in Cork, Frea in Manchester, Veterans Launchpad in Liverpool and many more, our members

and boards have worked hard to give back to their communities.

At the start of the year, each chapter of BITA selects a charity to work with, raising awareness and funds with their members.

These are usually small charities that work actively in the area to support local people.

You can find the charity supported by your local chapter on the chapter pages of the BITA website. If you would like to put forward a charity for consideration, please ask your local chairperson!

In addition to local charities, BITA also works to support two incredible charitable organisations; The Lighthouse Club, and the London Irish Centre.

The Lighthouse Club is the Construction Industries own charity, and they provide financial, wellbeing and mental health support to people from the construction industry. Their 24/7 Construction Helpline is manned by

Séamus MacCormaic, CEO of the LIC, at the BITA Gala Ball 2022

YOU HAVE HELPED US RAISE NEARLY £700,000 FOR CHARITIES ACROSS THE UK AND IRELAND! volunteers, and always there to help people from the industry that are struggling.

The London Irish Centre is based in Camden, and they work with disadvantaged people that need help and support with food, cultural enrichment, or general support. They are upgrading to a larger site to help more people, and you can read about them on page 44.

As part of our commitment to helping people, we donate £10 from membership fees to the Lighthouse Club, and £10 to the London Irish Centre, to help them help more people. We also help raise awareness of all our charities through social media, our magazine, and by talking about their good works at our lunches.

It is important for us, and our members, to be able to give back to our communities in this way and know that we are supporting others. All these charities need support, whether through raising awareness, attracting more volunteers or fundraising. If you would like to know more about this, you can find their contact details on the BITA website. In the coming issues of this magazine, we will be taking a closer look at the incredible work they do. www.bita.ie

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BITA platinum sponsors, Harris Group, opens new UK HQ for Harris Maxus in Liverpool.

Having outgrown its UK headquarters in Warrington, Harris Group has moved its Harris Maxus operations to a new premises in Liverpool (quadruple the size of the previous HQ in Warrington) as the company continues to grow its presence in the UK.

PLATINUM SPONSOR

DENISE HARRIS, CEO OF HARRIS GROUP

Harris MAXUS, which is one of the UK and Ireland’s leading automotive companies, officially opened the new HQ recently at Gillmoss Industrial Estate with a ribbon-cutting ceremony which was presided over by Liverpool’s Lord Mayor, Councillor Roy Gladden. Harris MAXUS is currently forecasting growth of over 200% in the UK in 2023, with sales projections across the UK and Ireland for 2022 of circa 6000 units.

Parent company, Harris Group, is recognised as one of the UK and Ireland’s foremost distributors of commercial vehicles, including its flagship electric vehicle brand, MAXUS. The company holds distribution rights for MAXUS vehicles across all right-hand drive countries in Europe and has seen significant growth in demand for its EV range.

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www.harrisgroup.ie

MEMBER SUPPORT

The Weight of Health and Safety Victoria Brown, Founder of oneSAFE, explains the relevance of Health and Safety, and what’s on offer from the newest BITA member support hub

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he public can think wearily about health and safety people, and newspapers are always happy to publicise examples of ‘Health and safety gone mad!’. But although it sometimes gets an eyeroll, health and safety regulations save lives.

Health and safety legislation was first introduced in the UK with the 1802 Health and Morals of Apprentices Act, which covered mill apprentices and was seemingly not enforced.

Extensions to the Act were added piecemeal, with add-on legislation for working in mines, working hours (maximum nine hours a day for nine-year-olds), and agriculture, all bolted on up until 1974.

The Health and Safety at Work etc. Act 1974 bought comprehensive health and safety reforms and swept away the previous mishmash of strung together legislation. It set up governing bodies and sought to improve the health and safety of people in all industries. This has also been added to throughout the years, and the impact has been dramatic.

Statistica reports that in 1974 there were 651 work-related deaths in Great Britian, and this has steadily decreased to 123 for 2022; so hardly just a box-ticking exercise.

Securing the wellbeing of employees, from illness, injury or death, is something that I am very passionate about. But sometimes the incredible strides made in the industry and the rational behind certain decisions, gets buried underneath the mocking headlines.

You may have heard about the Retained EU Law Bill, currently working its way through parliament. You may not. But the implication for workers is potentially massive. If approved, the Bill would remove 2,400 health and safety laws that were enacted during the UK’s time as an EU member. Whether or not they would be reinstated in some fashion is not yet clear.

The Royal Society for the Prevention of Accidents, the Scaffolding Association, the British Safety Council and many other Institutions in the health and safety sphere (and many others) are all sounding an alarm against withdrawing these laws, and for good reason. The laws include many that apply to the construction industry, which is still the most dangerous industry in the UK, with deaths four times higher than other industry averages. We need to make sure that these protections are kept, to safeguard workers.

Many BITA members work in and around the construction industry, and as such, health and safety are important considerations for the organisation. As a reflection of this, BITA has been working with the Lighthouse Club Charity for nearly a decade, a charity that provides emotional, physical and financial wellbeing support to construction workers and their families. It’s a cause that many members are also passionate about.

So, I was delighted to start work with BITA on a Health and Safety Hub, as part of their Member Support Area. Of course, the main part of BITA membership is around networking events and opportunities to grow your business. But that growth is impossible without the correct expertise and support in place, and this is where the Hubs can help.

Our award-winning consultancy have developed powerful Health and Safety software called oneSAFE, which can support BITA members on their growth journey, to make sure that they are fully compliant with the law, and to make sure that their employees are safe.

This system will provide access to a range of health and safety documents and useful toolbox talks to support and protect your business.

We are also offering BITA members the ability to upgrade to a comprehensive system at a discounted rate. The upgrade would provide access to the full health and safety software to track risk assessments, training records, log accidents and near misses, and help you stay on the right side of changing legislation. The platform will be launched in the next few weeks, and you’ll start receiving your log in details. I look forward to working with you all.

CONSTRUCTION IS THE UK’S MOST DANGEROUS INDUSTRY, ADHERENCE TO HEALTH AND SAFETY LAWS SAVE LIVES.

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Prosecutions for UK based Directors of Irish companies

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e have seen a number of prosecutions of UK based Directors of Irish registered companies recently where there is no EEA resident Director.

Where an Irish registered company does not have, on its board, a Director who is resident in the European Economic Area. (The EEA consists of the EU + Norway, Liechtenstein, and Iceland) it must put in place an insurance company bond, commonly referred to as a ‘S137 Bond’.

UK Resident Directors Where an existing Irish company had fulfilled this Director requirement by appointing a UK resident to the Director role up until 31st December 2020 this will no longer qualify. They should consider replacing that Director or adding an additional Director who is an EEA-resident unless exempted.

The Director requirement is based on residency, not nationality and so, a company Director of Irish nationality who lives in the UK will not satisfy the EEA requirement.

company must ensure it has continuous bond cover in place as otherwise it will be in breach of the Companies Act.

Prosecutions We recently assisted a Scottish based Director who did not have a bond in place and had ignored the warning from Companies Registration Office (CRO here in Dublin, the equivalent of Companies House in the UK). As a result of the prosecution, he had to appoint a Solicitor to appear on his behalf in court, incur legal fees and court fees of €250 together with a fine of €250, so a very costly experience (companies that did not make an appearance were fined €2,500).

The solution We have previously assisted many companies putting these bonds in place and especially for UK companies with Irish subsidiaries without a locally based Director. However this can take a few weeks to arrange and a copy must be filed in CRO when completed.

Final Word S137 Bond These bonds were required effective from the Brexit date of 1/1/2021 and in general the bonds are for a 2-year period.

Thus, many of the currently active bonds have recently expired on 31 December 2022 and should be renewed. The

Company Directors need to consider the implications on their Irish companies since the UK has left the EU. As with any legal or accounting issue early advice is important as failure to deal with this is a company law offence, category 4, with a fine of up to €5,000 for the company or its officers.

Contact us if you wish to discuss the impacts of any of these changes to your company structures here in Ireland or any planning or bond requirements. aidan.scollard@robertsnathan.com / www.robertsnathan.com

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