Business Leader Magazine

Issue 19: July - September 2017

Running a business from a castle BLM talks to tech entrepreneur Chris Morling

BLM meets Charlie Mullins OBE - Page 10

Post-Brexit vote how are West exporters holding up? - Page 32

Directors debate - Page 51

businessleader.co.uk

Weston College has secured £19m of Local Enterprise Partnership funding, which has contributed to the redevelopment and modernisation of the historic Winter Gardens Pavilion, creating the Law and Professional Services Academy.

On average, around 25% of businesses in the legal and professional services sectors have reported a skills shortage.

The facility will specialise in delivering both traditional training routes and apprenticeships at further and higher education level in: • • • • • •

Law Accounting Financial Services Business Studies, Management and Administration Human Resources Leadership and Management

The Law and Professional Services Academy will act as a catalyst for the regeneration of Weston town centre, while also nurturing talent and addressing skills gaps across the South West.

Our new selection of courses, starting in September 2017 will include: Legal • Paralegal, Level 3 • CILEx Professional Technical Diploma, Level 3 • LLB (Hons) Law

Financial Services & Accounting • Taxation Technician, Level 4 • Professional Accounting, Level 4 • Business and Finance, AAT, Level 2 • Assistant Accountant, Level 3

If you’re paying the apprenticeship levy, you can use your allowance to pay for our new work-based training programmes!

Non-levy paying employers will only need to contribute 10% of the training costs!

Management • Leadership and Management ILM, Level 7 • Operations/Department Manager, Level 5 • Team Leader/Supervisor, Level 3 • Digital and Technology Solutions, BSc (Hons)

Contact the Business Growth Team to find out more -

01934 411 686

directorteam@weston.ac.uk

Editor’s Intro

Welcome to the latest edition of Business Leader

Oli Ballard Editor, Business Leader Magazine

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What are the ingredients that make a successful entrepreneur?

20

Getting to the nub of what an entrepreneur is can be a difficult thing. The definition is open ended and open to interpretation. Who is the first person that comes into your mind when you hear the word entrepreneur? A recent twitter poll we ran showed that Sir Richard Branson was the most common name that people said, with a final poll of 64%.

From page 10 we have an entrepreneur feature where we try to answer this very question. With well-known and leading business figures contributing, hopefully we come close to finding an answer. This edition also has an interview with the founder of Gtech, where you can find out what it’s like to go up against Dyson and the trials and tribulations of being an inventor (page 14).

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In this issue...

Latest News

4

GDPR - Panel Debate

8

You will also find a sector focus on Bristol (page 20) & North Somerset (page 39); the findings of a panel debate into the challenges facing directors (page 51) & a feature into international business & export (page 33).

Celebrating Entrepreneurs - Charlie Mullins Interview

10

My Journey - Chris Morling

18

Bristol & the City Region

20

Challenger Banks - Panel Debate

26

Ones to Watch - Heat Recruitment

30

Export & International Business Debate

33

Focus On Weston-super-Mare/North Somerset

39

/BusinessLeaderUK

Crowdfunding - Feature

44

Property & Construction Debate

46

/BLeaderNews

Challenges for Directors Debate

51

Ones to Watch - Ecosurety

54

Business Leader - The magazine for business and enterprise

Inside this latest edition of Business Leader Magazine you can also find the usual news, views and comments from business leaders from across the region.

NEW businessleader.co.uk

/company/business-leader-magazine /BusinessLeaderUK

Issue 19: July - September 2017

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Business Leader

Lead

How is Brexit affecting the mood of the nation?

F

indings from a national study on the mood of the nation in light of Brexit were revealed to marketers and business leaders from across the South West at the second in a series of new breakfast briefings from McCann Bristol, called ‘Talks on Toast’.

The event, which was held at the Bristol Harbour Hotel on 22rd June, unveiled a bitesized version of McCann Worldgroup UK’s newest study ‘Truth About Britain’.

The study investigated some of the attitudes towards national pride, globalism and other social issues following the EU referendum result; as well as exploring regional differences.

sense of pride in being from Britain, while only 50% in the North East felt proud of their nation.

The talk was designed to show businesses in the South West that the most valued brands are those representing reliability and permanence – brands that connect with British character in a meaningful way.

The study tracked and analysed British consumers’ mood over 12 months and found there is an overall renewed optimism and pride in Britain today, but fundamental regional differences point to a splintered national picture.

These bedrock brands are those that are firmly rooted in a clear set of values and provide confidence in the face of uncertainty. 76% of those in the South West prefer a brand that is local, and 83% prefer brands that reassure rather than challenge.

71% of people living in the South West felt a

Kathryn Ellis, Planning Director at McCann

Bristol said: “Brexit reveals stark regional differences in attitudes towards national pride, immigration, globalism and other social issues. McCann Worldgroup UK is the only agency to have a regional UK network, so we commissioned ‘Truth About Britain’ to better understand the regions and their attitudes”.

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Issue 19: July - September 2017

Portishead Office Kestrel Court Harbour Road

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kimbatchelor@pureoffices.co.uk

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Business Leader - The magazine for business and enterprise

Recruitment

Talk to Us As a specialist recruitment team, working across Professional Services, IT and Engineering, we take time to build mutual relationships to connect our clients with the right candidate. Ensure you find the perfect fit, entrust your recruitment to our experienced consultants.

Telephone­­–­0345 375 1747 Email­–­hello@heatrecruitment.co.uk

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Latest News APPOINTMENTS

HR Specialist joins leading South West Telecoms firm

Bristol FM company on track for a record year Following a string of high-profile client acquisitions and partnerships, directors at Bristol-based Almeda are anticipating record sales for its latest financial year.

Grace Williams has joined PureComms as HR Manager at the company’s St Austell office.

Grace has a Master’s degree in Human Resource Management from Plymouth University. Before this, she received a certificate in Human Resource from Truro College.

Miller Pattison appoints new CEO Salisbury-based insulation specialist, Miller Pattison, has appointed Alex McLeod as its new CEO with Mike Dyson retiring after two years as MD. Alex has more than 10 years of experience in the insulation industry and he joins the firm from his previous role as a CEO of a manufacturing company supplying roofing and flooring products to the new build housing market.

Mike Jackson joins boutique advisory firm Bristol-based advisory boutique Shaw & Co are delighted to announce that Mike Jackson has joined its team in the role of director to help scale-ups accelerate growth and generate value.

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Issue 19: July - September 2017

The company recently won a contract with English Heritage, where it will be delivering mechanical and engineering maintenance to 23 sites cared for by the organisation, including the coastal castles of Pendennis, Tintagel Castle and Dartmouth Castle.

Almeda has also partnered with several educational establishments. The Bristol FM company is on track for a record year in helping support and develop students across the south west.

Brady George - MD, Almeda

As part of its on-going strategy to offer energy efficiency ideas to its customers, Almeda has united with client Arnolfini and UWE Energy Efficiency to conduct energy audits through UWE’s Architecture and the Built Environment Department.

Brady George, Managing Director of Almeda, comments: “English Heritage is a prestigious account and we are excited to have the opportunity to work alongside an organisation that shares our values and to help them achieve their environmental and efficiency goals moving forwards.”

Defence Minister opens £3m Cyber Security centre in Gloucester Defence Minister Harriett Baldwin visited Gloucester last week to open Lockheed Martin’s £3 million, job-creating Cyber Security Centre.

The Government is investing £1.9 billion in cyber security as part of its five-year National Cyber Security Strategy.

The new ‘Cyber Works’ centre, is designed to tackle the complex cyber threats the UK faces. It will create 90 high tech jobs in Gloucester and enable Lockheed Martin to work closely with its UK partners to share knowledge, research and deliver cutting edge capabilities.

Business Leader - The magazine for business and enterprise

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citroen.co.uk *Offer applies to business users for sales of qualifying models ordered & registered 01/07/2017 & 30/09/2017 or until such time as offers/prices may be withdrawn by Citroen at its complete discretion. Optional paint available at extra cost. Finance subject to status. A guarantee may be required. Over 18s only. Finance provided by and written quotations available on request from PSA Finance UK Limited (company registration number 01024322) t/a Citroen Financial Services, Quadrant House, Princess Way, Redhill, Surrey, RH1 1QA, UK. Citroen Financial Services is authorised and regulated by the Financial Conduct Authority. Howards Motor Group is acting as a credit broker and is not a lender. To finance your vehicle we may introduce you to a limited number of lenders. Offers & prices correct at time of going to press from Howards Citroen. Terms & conditions apply. Please ask us for details. Subject to stock availability.

HOWARDS CITROËN Hildesheim Bridge, Weston-super-Mare BS23 3PT Local Business Manager Robert Ayre: Mob: 07880 736 659 Email: robert.ayre@howardsgroup.co.uk Priorswood Road, Taunton, Somerset TA2 8DN Local Business Manager Simon Jones: Mob: 07891 137931 Email: simon.jones@howardsgroup.co.uk

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Latest News

Castle - championing small businesses

Jeremy Coombes

Already storming from strength to strength, Portishead’s Castle Business Finance is committed to recognising other great small businesses in the area and is proud to be sponsoring the Business of the Year Award (1-10 employees) at this

year’s Business Leader Awards.

With experience of building businesses from scratch into multimillion pound entities, Castle Chief Executive Jeremy Coombes is a champion of recognising and supporting potential.

Jeremy said: “Castle has been in business for less than a year and so we understand what it is like to be a young, growing company.

Although our senior team has a combined wealth of 55 years’ experience in the business, we still face the same hurdles and understand the challenges that our clients, both existing and future, may be encountering.

“We wanted to celebrate the great small businesses that we have in the South West, and so by sponsoring this award we hope to encourage them to enter and show the nation that our region is a force to be reckoned with.”

Castle are specialists in providing bespoke funding solutions to SMEs and lend across a varied cross-section of businesses, with manufacturing, wholesale, haulage and recruitment already proving to be key sectors. In just nine months of trading, they have already provided £6.3 million of support to UK businesses.

Since moving into their larger premises earlier this year, Castle has continued to expand its team, and is recruiting for various roles to continue delivering the excellent business finance support and service that in a short space of time Castle has become renowned for.

It is their common sense approach to lending that has set Castle apart from other business finance companies, with decisions being made in a matter of hours – by a qualified decision maker looking at each opportunity - and then releasing funds quickly.

For more information on Castle, visit www.castlebusinessfinance.co.uk or call 01275 390660.

South West robotics team secures £5.8m investment

L-R: John Rees, Silas Adekunle and Chris Beck

Reach Robotics, the robotics, augmented reality and mobile gaming firm, has secured a £5.8 million investment.

The company was founded in 2013 by John Rees, Silas Adekunle and Chris Beck to develop the next generation robotics platform that incorporates state of the art robotic engineering, combined with mobile gaming and augmented reality – this fusion led the team to create the MekaMon intelligent gaming robot.

Bristol airport CEO steps down to take on new opportunity Bristol Airport announces that its CEO, Robert Sinclair, will step down later this year to become the new Chief Executive Officer of London City Airport.

Robert was appointed CEO of Bristol Airport in October 2008 and has overseen a 45% increase Robert Sinclair in passenger numbers, significant growth in new destinations, and the completion of a £160m development programme which has culminated in the airport being ranked No1. in the UK for overall passenger satisfaction.

Award-Winning Legal Advisers to Regional Businesses 6

Issue 19: July - September 2017

0117 925 2020 vwv.co.uk

Business Leader - The magazine for business and enterprise

Interview:

Rich Clothier – Wyke Farms

BLM talks to Wyke Farm’s Rich Clothier about exports Can you tell me about Wyke Farms and its history?

“The family have been making cheese for over 200 years in the Mendip Hills in Somerset. Today, Wyke Farms is still family owned and one of the largest independent cheese makers and milk processors in the UK producing over 13,000 tonnes of Cheddar per year to the same awardwinning secret recipe written down by my grandmother Ivy Clothier. We currently process about 300 million litres of milk per year. Whilst we mainly make Cheddar cheese, we also work with some other dairies to process milk on their behalf.

“For example, we process quite a lot of milk for Yeo Valley Farms, who are also based on the Mendips. Historically we have always been strong in the independent sector.

“My grandparents changed the business in the early 1900s. My grandmother started making the cheese consistent through her family recipe and sold into the independent retailers of local delis.

“So, up until the year 2000 we were strongly focussed in the independent sector.

Obviously, the retail sector changed and we sold more and more into the national, multiple retailers and into the export market as well.”

How important are family values to the business?

“Really important because one of the things that we say is that we want to do business

we are proud of. We want to be proud of our products, the way we do business and the impact our decisions have on our community. We make longer term decisions because we are a family business that has been trading for 300 years.”

Where do you export? Where have been the main challenges?

“We export to around 160 countries from around the world. The challenges of exporting are fewer. The world is getting easier to communicate with and logistically, the channels are becoming more slick and sophisticated. The challenges would be the usual things, developing products that can have a longer shelf life or labelling requirements for different regions.”

What are the main challenges your business is about to face?

“Brexit is a challenge but the most important thing is the effect on currency and in many ways, it is the result of many different decisions. If we get a tough Brexit and are on WTO rules then that could weaken the pound and that has implications for business.

“It is the impact on the currency that provides the challenges because we do business with customers we have been dealing with for 10 to 15 years who would have contracts that last a year, so volatility within the year just makes everything so much more difficult.

L-R: Rich Clothier (Wyke Farms), Steve Beavan & Richard Drewett (Barclays)

availability of labour as there are not enough young people going into the labour market.

“If our economy wants to grow, we are going to need people to be able to work. We will need some sort of controlled migration of workers from within the EU so that we can staff up the jobs that a growing economy is going to produce.”

How long have you been working with Barclays and how do they support your business?

“We have been working with Barclays since about 1975/76. They understand what our objectives are in a positive way, they believe in the team and feel a part of the business.

We are growing our business overseas, making more premium mature-type cheddars, which need more stock funding.

“The best thing a bank can do and is understand the direction the business is going in and support in any way they can. People change but the deep-seated relationships within the bank have been maintained and that has been important.

Instability is the enemy of business and what Barclays have done all the way through is provide stability.”

“We are also concerned about the

Wyke Farms: Tel: 01749 812424 www.wykefarms.com Steve Beavan: Mobile: + 44 (0) 7881 317981 Email: steven.beavan@barclays.com

www.barclayscorporate.com

The views expressed in this article are the views of the author alone and do not necessarily reflect the views of the Barclays Bank PLC Group nor should they be taken as statements of policy or intent of the Barclays Bank PLC Group. The Barclays Bank PLC Group takes no responsibility for the veracity of information contained in the third party guides or articles and no warranties or undertakings of any kind, whether express or implied, regarding the accuracy or completeness of the information given. The Barclays Bank PLC Group takes no liability for the impact of any decisions made based on information contained and views expressed. Barclays is a trading name of Barclays Bank PLC and its subsidiaries. Barclays Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No 122702). Registered in England. Registered number is 1026167 with registered office at 1 Churchill Place, London E14 5HP. August 2017. + Please note: this is a mobile phone number and calls will be charged in accordance with your mobile tariff.

Business Leader - The magazine for business and enterprise

Issue 19: July - September 2017

7

GDPR:

Panel Debate

What impact will GDPR have on businesses?

The Panel

Sandy Gilchrist Director, Priviness

B

LM attended the Stackhouse Poland cyber security event in London, where leading experts were brought together to discuss GDPR and cyber security and how businesses can best deal with these issues.

HOW CAN BUSINESSES BEST PREPARE THEMSELVES AGAINST HACKING?

Sandy Gilchrist: “The most important thing from a businesses’ internal governance perspective is to be prepared all the time and to put it on the agenda before it becomes the agenda. This means setting up processes and systems within your organisation to ensure that you are looking at this all the time. In addition to this, make sure you have the right training and that everything in the business is documented, because unless it is, you are in breach of GDPR as well as being susceptible to hacking.”

Sheona Wood: “It is also about investing in your IT infrastructure at the beginning, such as your firewalls and your anti-virus software.

This means that you’re checking in real-time for issues with activity, rather than waiting to be re-active once something happens.”

HOW MANY HACKS ARE THE RESULT OF ACCIDENTAL BREACH, WITHIN A BUSINESS? SO, THIS MEANS DATA FLOWING OUT OF A BUSINESS INADVERTENTLY AS OPPOSED TO AN EXTERNAL ATTACK? Oz Alashe: “A high proportion of the information that we lose is shared and that could range from an inadvertent email,

Oz Alashe MBE CEO & Founder, Cybsafe

WHO SHOULD BE RESPONSIBLE FOR TACKLING THIS ISSUE IN A BUSINESS? Geoff Keig: “To deal with this, the structure needs to be topdown. You will need a cascade arrangement, with somebody responsible at the very top of your business, on the board or otherwise, who has this as their remit.

“They will have a facility for checking hacker and breach activity and then you’ll have a day-to-day operation which they will not see, unless it is an emergency. This will help to keep you secure and up to date with regulations.”

GDPR COMES INTO EFFECT IN MAY NEXT YEAR, AND MUCH IS MADE ABOUT THE MAXIMUM FINE, WHICH WILL BE €20M OR 4% OF GLOBAL TURNOVER – WHICHEVER IS THE GREATER. HOW RELEVANT ARE THOSE NUMBERS FOR ALL BUSINESSES?

IS THE TRAINING OF STAFF BEING TAKEN SERIOUSLY ENOUGH TO DEAL WITH THIS ISSUE?

Sandy Gilchrist: “They are relevant in terms of the law, but the law also says there is the principal of proportionality – it needs to be dissuasive to that business and others.

Oz Alashe: “When it comes to the human aspect, we often gloss over it and there is much more that can be done. If you ignore the impact your people could have, it could have a negative impact on your business.

It’s being put on the agenda more due to GDPR but not equipping your staff with the knowledge and best practice around this area, is a bit like filling up a bucket full of holes, with water.”

Sandy Gilchrist Issue 19: July - September 2017

Sheona Wood Partner, DWF Law

through to people losing laptops and mobile devices with data they thought was encrypted.”

“The most important thing from a businesses’ internal governance perspective is to be prepared all the time and to put it on the agenda before it becomes the agenda.”

8

Geoff Keig Head of Division, Stackhouse Poland

“If someone came along and knocked on your door and said – there’s been a breach of GDPR, as you haven’t notified the people on your database about how you are using their data then that would be an example of a breach.

“A breach is not necessarily always due to hacking. But, it’s unlikely you are going to be hit with a huge fine in the first instance as the regulator would most likely issue a warning and say I’ve looked at your processes and this is where the error lies, so rectify it.

“An example of a significant breach is Talk Talk and because of how they announced and handled this they suffered a 50% reduction in their profits, a third of their

Business Leader - The magazine for business and enterprise

GDPR:

Panel Debate “Many of the elements included in GDPR are just good practice and we’re gravitating towards brands that hold our information correctly.”

Oz Alashe MBE online, so I am comfortable with people looking at every email that I send. However, there are people who truly believe that their privacy is paramount – it is state security versus civil liberty – stalking, slander and libel against privacy. That is a balancing act that needs to be carried out.”

WHAT EMERGING FUTURE TECHNOLOGIES WILL WE HAVE TO WORRY ABOUT THE MOST?

share price had been lost and thousands of employees lost their jobs; and to boot they got fined £400k (under GDPR it could have been £80 million).

“The only reason they were fined this amount was because it was the fourth time it had happened.

“The fines will obviously hurt businesses but it’s also worth considering the damage that will be made to a business and its brand outside the courtroom, there is no proportionality here – like the courtroom – instead it is emotive and this is where businesses will get hurt.”

Sheona Wood: “When GDPR was being discussed and drafted, there was some suggestion that SME businesses will be let off, or given one warning, but that was quashed because the principle of protecting the data and individuals was so overwhelmingly paramount that the fines are will be in place for all businesses.”

Oz Alashe: “Many of the elements included in GDPR are just good practice and we’re gravitating towards brands that hold our information correctly. It’s the right thing to do and to demonstrate you are adhering to GDPR will be a value creator, rather than not.

“A report by PwC last month regarding data protection and regulations showed a 150% increase in fines in 2016 compared to the previous year and fines of £3.2m were issued. There is a general trend of this being taken more seriously.”

Sandy Gilchrist: “The ICO have said that they are treating May 25 2018 (this is when GDPR comes into effect) as a once in a lifetime opportunity to crack down on businesses that aren’t doing the right thing.

“They want to make it clear though, that it doesn’t mean they will be throwing fines out left right and centre and they don’t want people to look at this as a data prevention rule, they want you to look at it as a data sharing rule.

“The ICO already has a lot of useful tool kits for SMEs online for the Data Protection Act. Let’s look at this as a positive thing that encourages data sharing and not a negative scaremongering thing surrounded by fines.”

TO WHAT EXTENT CAN YOU BE ANONYMOUS ONLINE? SHOULD YOU BE ANONYMOUS? Sheona Wood: “People are having a good go at trying to be anonymous online, whether it is something trivial such as World of Warcraft users not wanting their real identity revealed in order to protect their ‘warrior status’; or to rather more serious issues where people are using cryptographic tools to make themselves anonymous.

“I think it is possible to try and make yourself anonymous online, however, whether you should be able to make yourself anonymous is really for the judgement for society and government.

“My personal view is that you should be accountable for statements that you make

Business Leader - The magazine for business and enterprise

Oz Alashe: “I rarely look at technology as something that we need to worry about.

Many things are changing and they will affect us. What do we need to do to make sure we are not harmed by them? The technological advancement I’d draw attention to is the Internet of Things.

“It is vital we understand how interconnected and how dependent we are in everything we do, on technology. Everywhere we talk and go data is being gathered about us; about what type of coffee we like for example as people want to sell to us.

“We could take this as a point of worry but I’d rather say that we embrace it and consider it as an opportunity; and GDPR is one of those.”

WHAT IS THE MOST USUAL FORM OF CYBER-ATTACK? Sheona Wood: “What I have seen the most of is phishing and voice phishing – where someone phones up claiming to be the bank.

We have seen millions of pounds lost from businesses and individuals due to this form of cybercrime.

“In terms of future threats, I see cyber like the game of whack-a-mole - where you whack a phishing mole, but another one pops up and the thing we are seeing more of too, is identity fraud. All you need to impersonate somebody is your name, address and birth date.

“I feel strongly about education and training at the front end, not after the event by explaining to everyone what they should have done.” 

Issue 19: July - September 2017

9

Celebrating Entrepreneurs:

Interview

I hate meetings.

They overcomplicate things – surely the answer is just yes or no

TV celebrity and Britain’s first millionaire plumber, Charlie Mullins OBE, talks business with BLM’s Managing Director, Andrew Scott.

C

harlie Mullins OBE is managing director of Pimlico Plumbers, the UK’s largest independent plumbing firm which he started in 1979, after leaving school at 15 with no qualifications.

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Issue 19: July - September 2017

Many sleepless nights I’ve had many sleepless nights in business, thinking – are we going to be able to pay the bills? Are we going to lose our house? The biggest hurdle came in the 1980s when we nearly went bust.

there was no money around at all. There was a plumber who lived in my area called Bill Ellis. He was a good guy, he had a nice house.

Instead of going to school I would go and work for him and he instilled a work ethic and sense of right and wrong in me.

We didn’t have any structure in place and I was trying to do everything by myself and we owed half a million pounds. I went to two liquidators and one of them said why not fight for everything – which is what I did. I don’t think I was serious enough up until then but this changed everything.

He told me to become an apprentice plumber because I would never be out of work and I would make lots of money. He gave me the direction that I needed in life and I believe that is true of most people – that they just need to be given some direction.

Business instinct My instinct for business is inspired by my background. I came from a very poor one and

Control Now that the business is successful and up and running it isn’t as hard as it looks to keep control of its day to day running. To help with

Business Leader - The magazine for business and enterprise

Celebrating Entrepreneurs:

Interview

A working breakfast with BLM’s Andrew Scott and Charlie Mullins OBE

this we came up with a do’s and don’ts book with thoughts on how it should be run and we called it the Pimlico Bible.

I’ve learnt over the years that I can’t do everything myself and there are great people out there and you must get them on-board and involved in helping the business grow.

What drives you on Money is a great driver for me. It’s not all about money but it gives you freedom and you can buy wonderful things in life. I’ve been poor and I’ve been rich and I know which one I’d rather be.

“I was very vocal about remaining in the European Union. Many people thought it was because I employ EU workers, but this has nothing to do with it. I only employ a handful.”

I think perceptions are also changing around people with wealth and how it isn’t a terrible thing to have money and be successful. There is now more of a realisation that the person who has money most likely employs a lot of people and their lives are improving too.

case we’re involved in where a plumber, who worked for us, demanded sick pay and holiday pay, even though he was a selfemployed contractor. Unfortunately the Court of Appeal agreed with him, which is why we’re appealing the decision to the Supreme Court.

Politicians The current Prime Minister – at the time of writing – isn’t connecting enough with businesses. When David Cameron was in power I was regularly invited to Downing Street and I felt I was being listened to. He seemed to understand the message that the more people you employ the better it is for everybody.

Pointless meetings I think meetings are very simple – most of the time people sit around looking at each other and are frightened to say anything. You can end up sitting there for three hours and come out of the meeting wondering what it was all about. I can answer any question in three seconds. The answer is almost always yes or no.

Business obstacles There are too many obstacles put in front of business owners. We also need more clarity on the Gig Economy. There is a high-profile

Remain in the EU I was very vocal about remaining in the European Union. Many people thought it was because I employ EU workers, but this has

Business Leader - The magazine for business and enterprise

nothing to do with it. I only employ a handful.

My reason was because I believe we need people from mainland Europe to come here and fill vacancies. People have the idea that immigrants are taking our jobs and stopping UK citizens from working, but that isn’t the case. It’s the benefits system that is stopping people from working.

When you’ve made it I’ve never thought that I’ve made it in life. I don’t tell myself that I have because if I do then I’ll take my finger off the pulse and sit back. Other people tell me about what I’ve achieved but I don’t recognise it. I still have the hunger to be better and learn.

Total focus I’ve had lots of business propositions too, but I only get involved in my own business. The more I put into Pimlico the more I get out of it.

People come to me and say I’ve missed out on this opportunity or that one, but I’m fine with that – if it’s that good they’ll be able to make a success of it.

The next stages for the business are to concentrate on expanding in London and the areas on its outskirts.

Business advice My key advice to anybody running a business and looking to scale it up is to keep it simple.

Turn up on time, do an excellent job and keep focused. It’s also important to recruit the best people around you. 

Issue 19: July - September 2017

11

Entrepreneur Review:

Top 6

The lightbulb moment – meet these entrepreneurs who started their empires later on in life

M

odern business is full of start-up businesses who have grown from a tech-savvy millennial’s idea and vary from niche to widespread markets.

However, this is not always the case and throughout the UK and the wider world of business, there are many who have had a full career in another sector before releasing their product or service.

These entrepreneurs may have started later than some, but their contributions have helped businesses and the public across wide-ranging areas of business and life.

For example, most of the world knows the face of KFC, Colonel Sanders. However, many don’t know that he started the business after he had retired at the age of 65.

Post-retirement, he felt he had failed in life and decided to commit suicide. He sat writing his will but instead wrote about his accomplishments and his love for cooking and fried chicken. He then went from doorto-door selling his patented recipe and by the age of 88 he was a billionaire with a fast food global empire.

Jason Bannister, Oak Furniture Land Bannister started out as a furniture salesman in Burnley and rose through the ranks to become a regional 12

Issue 19: July - September 2017

manager. Despite his promotions, he became disillusioned with his job. In 2004 he extended his house and purchased a container of Mexican pine furniture for £10,000.

By 2005, and in his mid-30s he left his job to run eBay’s biggest furniture retailer. After receiving multiple calls from customers to view his showroom, he told them he was an online only store. This led to the purchase of some unit space on an airfield in Cheltenham. Oak Furniture Land now boasts over 70 stores across the UK. Sir James Dyson, Dyson Perhaps one of the most recognisable names in the world of design and innovation, James Dyson started his vacuum-based empire at the age of 41 in Malmesbury, Wiltshire back in 1987.

The company now has an annual revenue of almost £2bn and sells its products all over the world. However, the emergence of the company came from the purchase of a Walmart hoover in the early 1980s. The hoover bag and filters would repeatedly clog and he soon realised that a cyclone-based product would avoid this. He created the world’s first bag-less vacuum cleaner and has been improving on that design ever since.

Peter Kelly, Softcat In 1983 at the age of 37, Peter Kelly created mail order operation, Software Catalogue.

However, in 1996 it was rebranded as a B2B IT infrastructure provider and rebranded themselves as Softcat.

Aimed towards helping small and medium sized businesses, with IT sourcing challenges and software licensing needs – in 2016 Softcat had a turnover of over £670 million, an income of over £40 million and opened new offices in Leeds and Glasgow.

Softcat has repeatedly been near the top of the ‘Great Place to Work’ award and last year they placed 5th in the UK. Sir David McMurty and John Deer, Renishaw At the ages of 40 and 42, respectively, McMurty and Deer created Gloucesterbased engineering company Renishaw in 1973. The company’s first product was invented by McMurty to fix Olympus engines used on Concorde

Business Leader - The magazine for business and enterprise

Entrepreneur Review: aircraft. This innovative product led to a revolution within aviation and has grown from strength-to-strength ever since.

Renishaw now has more than 70 offices in 35 countries and in 2016 had revenues of over £430 million.

Dale Vince, Ecotricity After leaving school at 15, Vince spent several years as a new age traveller and in 1995, at the age of 35 he set up Ecotricity – a Gloucester-based green energy company. After being inspired four years earlier by the sight of his first wind turbine, Vince set up the company with a single wind turbine to power an old army truck he used to live in.

The company has grown and has now expanded into producing solar and gas energy as well as releasing their first electric car – which broke the electric land speed record and reached 151 mph.

In 2010 Vince became chairman of Forest Green Rovers FC and revamped the club to all green energy and only vegan food available to players, fans and staff. … and Henry Ford, Ford Motor Company Before starting his world-renowned automobile empire, Ford had a series of businesses that went bust. It wasn’t until the age of 40 that the Ford ‘999’ model was released to the public, which then led to the illustrious ‘Model T’ being sold across America five years later.

With Ford’s various other ventures, including his own series of newspapers in the Southern states, he promoted his cars and by 1918, half of all vehicles driven in the USA, were Ford Model Ts. By the time of his death in 1947, Ford had amassed one of the largest wealth’s in history – a staggering total of $199 billion. 

Top 6

Bringing it all together – getting entrepreneurs to think about the boring stuff

By Greg Moss, Bond Dickinson

I

t's easy to get lost in generalisations when talking about entrepreneurs.

Like all our clients, each one is completely different from the last when you get into what makes them tick and why they do what they do. On the other hand, there are certainly themes and commonalities in our work with entrepreneurs.

Firstly, it's fair to say the boundaries between work and life are often far more blurred than they are for most. This can be especially true of family businesses where boardroom and dinner table might feature the same personnel.

Another common theme is that entrepreneurs, by and large, are essentially very interested and emotionally invested in what they do. Their businesses have been born of a great idea, a long cherished dream, or an opportunity to monetise something that has long interested them.

Also, increasingly, the measures of success are complicated and multifaceted. Large numbers of start-ups are socially focused or mixed motive, and the goals may be more fluid and emotionally driven.

For all these reasons, entrepreneurs can particularly value the input of a trusted adviser, be that an FD, financial planner, accountant or legal advisers.

These advisers often have the challenging though essential job of getting entrepreneurs to focus on essentially boring details just enough so that they can delegate them away and get back to the fun stuff.

Family owned and run businesses are notorious for neglecting the kind of formal

contingency planning which can feel inappropriate to bring up in this context, but which is arguably most valuable within such operations. Awkward 'what if' questions about the impact of a death or a divorce, or a divergence of views about the future direction of the company, should be faced up to. This can be much easier where you have an impartial adviser in the room, as we can raise these questions from behind a barrier of pointy-headed officiousness.

As awkward as these discussions may be, the outcome is often a set of formal arrangements which avoids off-the-scale awkwardness, or worse, further down the line. Once these areas have been properly considered, grappled with, and actions taken, everyone can move them into the background again where they belong.

In a similar vein, a good adviser can make the numbers work from start-up through to exit, by providing proactive guidance on issues such as equity dilution, profit extraction, preparing for exit. It's fair to say that in these areas the best outcomes are achieved by taking good advice as early as possible. Clients often limit their options by engaging with these questions too late in the day. This is often simply because individuals have (understandably) concentrated on driving all the big stuff forward – coming up with the great ideas, growing the business, changing the world.

A good adviser would have popped up at critical times to make sure the less interesting (but also important) things didn’t get missed along the way.

At Bond Dickinson we have a multidisciplinary approach, with experts on financial planning, legal, and tax issues. If you’re an entrepreneur seeking good advice, we'd love to have conversation about whether we can help with the boring stuff.

T: 0345 415 0000

www.bonddickinson.com Bond Dickinson LLP provides regulated legal services and its wholly owned subsidiary Bond Dickinson Wealth Limited provides regulated financial planning and investment services. Bond Dickinson LLP is authorised and regulated by the Solicitors Regulation Authority and Bond Dickinson Wealth Limited is authorised and regulated by the Financial Conduct Authority.

Business Leader - The magazine for business and enterprise

Issue 19: July - September 2017

13

Interview:

Nick Grey

When did you set up Gtech?

“I started Gtech in the UK in 2003/2004 while I was designing products that other people were branding and licensing. Revenue from overseas licence deals was invested in developing Gtech in the UK. “I wanted to grow the Gtech brand, so I tried to focus more on the UK and was less inclined to let other people put their brands on the products I was inventing.”

Where do you sit in the market against Dyson?

“I think we are quite different in approach.

Dyson is very much technology, technology, technology. Whereas we are very much focused on the consumer side. We try to answer questions such as, is the product easy to use?

“I often analyse competitor products and look at ways that we can bring something to market that is an improvement to that, or different.

“If I’ve sold someone a product I want it to be easy to use. I want a 90-year-old to use it and a 5-year-old to be able to use it, and obviously everyone in between. So, I think we are very much consumer focused.”

BLM meets world famous inventor

Nick Grey, founder of Gtech-

Do you have a plan to grow the business internationally? ““For about two or three years, all our manufacturing was focussed in the UK because we didn’t have any spare capacity to trade further afield. So, we closed off a lot of international business but a few months ago, especially with the pound dropping, we realised we need to sell overseas and we will be looking to grow our exports.

to talk innovation and how he’s taking on Dyson

“I’m always a consumer and if the world doesn’t seem quite right I always want to change it. It doesn’t matter if it’s on a big scale or a small scale, if a product is not right I believe I can do something better. So, it’s nearly always a consumer insight that gives me the starting point.”

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Issue 19: July - September 2017

Business Leader - The magazine for business and enterprise

Interview:

Nick Grey HOW TO

“For example, we’re set to launch in China in six to eight weeks. The products are starting to pick up in the US too. They are still with a licensee now, but the volume is picking up and we’re looking at several other international markets.”

What are the challenges of introducing yourself in a new country?

“It’s figuring out how to get your product in front of your target market, as quick as possible. This is made more difficult when you have competitors already established in that market. For example, Dyson are incredibly successful around the world and in some markets, they have 80% of the floor care sales. When you’re up against a company that impressive, it is a challenge to establish yourself.”

Do you have a set process or pattern for coming up with an invention?

“I’m always a consumer and if the world doesn’t seem quite right I always want to change it. It doesn’t matter if it’s on a big scale or a small scale, if a product is not right I believe I can do something better.

So, it’s nearly always a consumer insight that gives me the starting point.

“I’ll then go about designing an improvement. So, if I was going to do a new toaster I would buy whatever I consider to be the best available and then look to improve it. Sometimes, this is achieved by throwing the whole lot away and starting again but if you find out what the weaknesses and strengths are of the best available, you then have a good starting point.”

What’s the hardest part of being an inventor?

“The hardest part is that you must throw a lot of stuff away.”

What about running a business?

“Running a business is tough and it is lonely at times. One tough element is that you always need to adapt. In 2010, I went for media training because our brand manager said, ‘You’ve got to go out and go on adverts.’

“At the time I thought, I’m the inventor, you guys sell things. I invent things and that’s how I saw it. But she said, ‘No, you need to face the public, you need to talk to journalists, you need to do stuff.”

“It is essential that we encourage young people to take an interest in design and engineering. In my opinion, the British are the best designers in the world.”

How did you overcome this challenge?

“I enrolled on the training at Birmingham University, and at that time I was very disillusioned, it was when we were about to launch the AirRam and things were very difficult.

“I wasn’t sleeping well and the world seemed a very difficult place, and suddenly, I knew I had to close a lot of the business, so that was tough.

Secrets to Entrepreneurial Success Chris Atkinson Elysian Training

We are living through an incredible age for entrepreneurialism. Never in history has it been so easy for people to take an idea and market it to a potentially global customer base.

However, with the ease of access has also come increased competition, market saturation and highly inconsistent quality.

If entrepreneurs want to thrive in this new economic environment there are some factors which increase the likelihood of success and some common pitfalls which all too often undo the aspirations of new enterprises.

“But, I came up with ways to manage myself personally and this made a positive difference.”

A successful entrepreneurial business is built on finding the ‘sweet spot’ where the following three factors overlap:

What more needs to be done to engage young people in design and engineering?

“It is essential that we encourage young people to take an interest in design and engineering. In my opinion, the British are the best designers in the world. We’ve just got that mentality that we question things, sometimes we’re a bit over confident as a nation but you must back yourself as an inventor and designer.

Your passion - what you get excited about and care about

“I think taking design and technology off the curriculum in schools is madness. I’ve never heard madness like it before, it’s our biggest asset.”

What will the long term impact be of not encouraging design and engineering, amongst young people?

“It is essential that we encourage young people to take an interest in design and engineering. In my opinion, the British are the best designers in the world and one of the reasons for this, is that we always look to question things.

“I think taking design and technology off the curriculum in schools is madness. I’ve never heard madness like it before, it’s our biggest asset.”

Business Leader - The magazine for business and enterprise

Your skills - what you are good at and have a natural talent for Commercial need - product or service that people are willing to pay for Aligning these three things gives a much stronger likelihood of success however it is still no guarantee. Once a new opportunity has been identified, there are two significant pitfalls lurking in the early stages that commonly kill young start-ups.

Branding and Beauty: One of the most enjoyable things when creating a new business is choosing a name, creating a website and making your offering look fantastic. Be warned however these steps are one of the most common points of failure as they require a huge amount of time and often a lot of money.

Who is doing the selling? The other major issue is that someone needs to be 100% focused on sales to ensure a stable and sustainable business in the early days. Many entrepreneurs are so enthralled by their own idea that they assume “if I build it they will come”.

Sadly, this is unlikely; getting people to spend money with you and buy from you needs to be a full time focus in the early days.

Issue 19: July - September 2017

15

Entrepreneur Review:

Outsourcing your finance function How does it work?

Jon Marchant - Director, Mazars

O

utsourcing within small and medium sized enterprises (SMEs) for IT, facilities and HR has long been common place allowing business owners the time and energy to focus on running their business. Outsourcing your finance function SMEs can also make great business and commercial sense.

There are without doubt cost advantages but the other benefits around innovation, ease of management and time to focus on the strategic direction of your business also make the consideration of outsourcing finance a compelling proposition.

Cloud accounting software can provide a real time view on business performance, cash flow and business finances. These key metric dashboards will help SMEs work smarter and faster.

The consideration around financial outsourcing are usually driven by a business event “trigger”. A review of the finance function for security and effectiveness, difficulties in recruiting high quality personnel, emergency accounting support required due to leavers, sick leave, maternity etc. or the potential sale of a business.

Each of these events can bring about a

need to review the way your finance function operates now and in the future.

legal input to ensure a smooth transition to outsourcing.

The cost savings however cannot be overlooked – the automated processes and ability to tailor the support required on an individual SME business can bring about significant savings. As a rule of thumb you would expect to see at least 25% savings against existing total salary and associated costs of your financial function.

This scoping process should assess your existing systems and outputs and enable you to streamline these systems and tailor your outputs for internal management purposes but also for meaningful key metrics and dashboards for third parties (eg. banks, investors etc.)

The decision to outsource your finance function may initially seem daunting.

These concerns can be overcome by taking some key steps and continually assessing the impact and benefits of this business transformation process.

Firstly the choice of provider is crucial in ensuring the support and technical knowledge required during the process and on delivery are proven and secure. Choosing a provider who has experience within your sector or with your size and type of business is crucial. Ask for recent client testimonials from your provider given that they have already been through this process.

It is vital that your chosen provider clearly scopes the changes and milestones required and with the appropriate technical and

In addition to the business bookkeeping, accounting and management accounts this service can also provide accurate cash flow forecasting, credit control support and an FD service to support the business.

At Mazars we have seen SME businesses throughout the UK considering this flexible, fixed cost and high quality output model.

These businesses can range from new start up fast growing SMEs through to mature businesses whose finance functions have developed over many years and are no longer fit for purpose.

The technology and support are out there to implement this flexible finance model – this is the future for SME businesses.

For more information please contact Jon Marchant, Director on Tel: 07881 283568 or email Jon.marchant@mazars.co.uk.

www.mazars.co.uk 16

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My Journey:

Chris Morling

Meet the tech entrepreneur who runs his business from a castle

Business Leader Magazine met with the founder and Managing Director of money.co.uk – Chris Morling – to talk about his business journey and what it’s like to work from a castle.

Can you tell us a brief history of money.co.uk and yourself?

My background is in I.T. and prior to money.co.uk I had a whole series of different websites, all focussing on different financial products and even some products outside the financial sector. It was in 2008, it was a kind of do-or-die moment - rather than having lots of little sites that were doing OK, l thought, let’s have one site that’s amazing.

We spent a year bringing all the information together from all those separate sites and launched money.co.uk soon after.

Chris Morling

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Issue 19: July - September 2017

That was the lead up and since then we’ve grown from strength to strength. But I think it’s fair to say in the first few years we ticked along, didn’t really push the business, it was profitable but we weren’t doing anything to stand-out.

Business Leader - The magazine for business and enterprise

My Journey:

Chris Morling

It was another realisation that if we don’t do something special, we’re not going to survive.

What has been behind the success of your business?

Some of it can be attributed to having the drive to see things through and deliver on my vision and ideas. Not just start something and then start something else, which I think some people can fall into the trap of. I think as well as a technical mind, I have a creative mind, which really helped me early on as it allowed me to do basically everything within the business.

I’ve had experience in every area of the company, most of which beyond technology were completely new to me. Even though I don’t do any of that now on a day-in-day-out basis, what it does give me is an insight into what needs to be done and a true understanding of the issues involved.

I don’t think the success of the business is down to me; one person is like lighting a touch paper. One person starts it off and gets it going but without a talented team around you you’re not going to go anywhere.

Blowing my own trumpet, I think I employed some brilliant people and they’ve proved it because we’ve delivered so much with such a small team.

How do you see the finance comparison market evolving?

I think it’s all about personalisation. What you’ll see is more relevant information coming to you, as and when you need it, rather than you having to go to a comparison site to compare.

A good example of that is the energy clubs that you see now, where you can sign up and you’ll be told when there’s an opportunity to save money and that’s going to happen across more and more sectors.

Our mission statement is to make financial decisions as simple as possible with clever technology. So, everything we do is about making that decision process simple because they’re complex products and there’s a lot of stuff out there, and you must throw a lot of technology in the mix to make that work.

In terms of the technology, what sets you apart from the competition?

First there’s the technology that impacts what the consumer sees and then there’s technology at the back end. In terms of what

The Library Room

the consumer sees, we put a lot of emphasis on creating a massive wealth of guides for people to understand, not just what financial products mean and what there is on offer, but how to compare them and choose the one that’s relevant for you.

Ultimately, our focus must be on user experience because we’re no fools. If you don’t make the user experience a positive one and genuinely help people they’re not going to come back. And number two, obviously it’s the right thing to do as well.

“The castle was vacated by Cirencester College. One of my colleagues actually gave me the details as a joke and said, ‘Oh, check this out.’ And I said, ‘That looks quite cool. Why don’t we go and have a look at it?”

Business Leader - The magazine for business and enterprise

What have been the main challenges you’ve faced in business and how have you overcome them?

The key one for me has been the growth. I know we are a comparatively small company compared with many, we’ve currently 57 employees. But having gone from a team of 12 two years ago to 57, it’s a very different game both personally and in terms of how the company operates.

Why did you choose a castle for your office?

“Because it became available! We were around the corner at the time in a very small office, and I realised we had to move premises, obviously in order to grow. I was really keen to stay in central Cirencester.

I’ve worked on industrial estates in the past, and for me they’re quite soul destroying.

It makes such a difference having such a nice immediate working environment where you can walk into town. That limited where we could move to considerably, we had two or three options. There’s very little in Cirencester.

“The castle was vacated by Cirencester College. One of my colleagues actually gave me the details as a joke and said, ‘Oh, check this out.’ And I said, ‘That looks quite cool.

Why don’t we go and have a look at it?” 

Issue 19: July - September 2017

19

Bristol & the City Region

Metro Mayor

Introducing the West’s first Metro Mayor, Tim Bowles

B

usiness Leader Magazine spoke to recently elected West of England metro mayor, Tim Bowles about his first two months in the job, the challenges he has faced and his vision for the future of the region.

HOW HAVE YOU FOUND THE ROLE SO FAR? “I have thoroughly enjoyed it. It has been very pressurised and there has been a lot of work to do – we are setting up a new authority from scratch. We have a lot of different teams coming together from various parts of the different councils.

cracking things we have been doing. There hasn’t been just one highlight but here have been some interesting things that I have done.

“Other aspects, like our Invest in Bristol and Bath teams are all coming together under the new roof. That is an awful lot of work but it is great fun.”

“Recently, I was with a group of school children and we were talking about the skills they needed for the future workplace. We’re thinking about how children at school age can get excited about what we have got, as a region, so they can become the next generation of entrepreneurs.”

WHAT IS THE TOUGHEST CHALLENGE YOU HAVE FACED SO FAR? “It has been about identifying opportunities and that is the way I have always looked at these things. I have always been a ‘half full’ kind of person.

WHAT ARE YOUR PLANS FOR THE IMMEDIATE FUTURE? “The first meeting of the combined authority was an important milestone. All of us who have worked so hard to get the devolution deal in place, were present.

What was your previous job?

“District Councillor for Winterbourne”

“The challenge is making these things come together and then start delivering.”

How much will you be paid? “£62,000 per year”

YOUR PERSONAL HIGHLIGHT SO FAR? “There have been so many, my diary is full of

“The immediate future is an opportunity for us all as leaders, to get around a table and get the process in place so we can start pushing forward. We are now driving forward our ideas in terms of transport planning, for example.

IN SHORT What is a Metro Mayor?

“A metro mayor is the chair of a combined authority that has agreed to a Devolution Deal and is voted in by the electorate in the combined authority area. As Metro Mayor, Tim covers the Bristol City Region, South Gloucestershire and Bath and North-East Somerset.”

“It is all about strengthening our economic growth in the region, delivering the new infrastructure, houses and jobs that we need.”

IT WAS ANNOUNCED THAT THERE WOULD BE A FUNDING BOOST FOR TRANSPORT PROJECTS. WHAT WILL THIS DELIVER? “We will deliver a mix of large and small transport projects across the region, which have recently been approved.

“Projects worth more than £17m were approved and awarded funding of just over £10m to improve walking and cycling links, public spaces, public transport and road safety in the region. They underpin our aims to support economic growth and improve connectivity.

Tim Bowles

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Issue 19: July - September 2017

Business Leader - The magazine for business and enterprise

Bristol & the City Region

Metro Mayor

“The projects are (courtesy of combined authority media team): • £2.8m towards speeding up a strengthening, maintenance and improvement scheme for the Bromley Heath Viaduct reducing the time taken from 52 to 33 weeks; • £2.2m towards a new single platform rail station next to the Park and Ride at Portway on the Severn Beach Line; • £1.8m to relocate a coach park in Bath from Bath Quays North to Odd Down Park and Ride; and • £3.3m towards 14 separate transport projects across the region including new cycle paths and bus lane enforcement.

“Through the Local Growth Fund, the Joint Committee can approve projects that will deliver much needed infrastructure for the region. These developments will give us a better-connected region.”

WHAT ARE YOUR LONG-TERM PLANS? “It is one of those lovely questions that people always ask me. I have just started a

new job that no one has ever done before, for which there is not a job description.

There isn’t an office and there isn’t something set up.

“There are six people around the country who have a similar job title but none of our jobs are the same because we have all got different devolution deals. The answer is that we have got to make this first devolution deal work and that we deliver as a region.

“We need to show Westminster and the world that as a region we are strongly joined together and working positively.

“That means that the plan must be about providing long term jobs and opportunities for people across the region and deliver a growth plan for everybody. That is what we are here to do and I am confident that we are going to start delivering soon."

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21

Focus On:

Bristol

The lack of BIG plans for the city has meant lots of opportunities for little plans BLM talks to Nick Childs – co-founder of Childs+Sulzmann about Bristol and its future

How have you seen Bristol change as a city?

“Enormously. There was a time when Bristol really wasn’t a very attractive location for property investment. It was thought that the planning context here was just too difficult; but that changed rapidly in the mid-90s when the city decided it would become open to development.”

What do you believe sparked this change?

“It was the change in the Chief Planning Officer at the time; at Bristol City Council.

The city’s focus shifted and its attitude to inward investment and business improved.

Changes were happening that we would never have seen under the previous administration.”

What does the city need to do to keep to its roots but also develop and grow – and manage the tension between growth and conservation?

“For 35 years, we have been good at looking after our old buildings. The Conservation Act came in 1976; and we’ve got 19 conservation areas and hundreds of listed buildings. Bristol was very keen to grab the opportunity to protect its history and heritage because they had been through

that horrible period, like many cities did, when engineers and planners were wanting to drive motorways through the middle of the city.

“The city objected to most of the proposals that were coming through and since then we have had a conservation guided policy.

Now, we have all those important buildings and areas protected and Queen Square is looking beautiful and there are plans for St Mary Redcliffe and lots of nice parts of Clifton.”

“But it (conservation) is starting to get in the way of developments. If we are going to be a really thriving economic city then we need to build some big, new buildings to make that happen.”

What do you think needs to be done to bring more sites forward and get the city building?

“Leadership from the Mayor and Metro Mayor is important. Marvin Rees has shown his colours in areas such as the Redcliffe Quarter, where developers were planning to build a tower. Far from saying he didn’t like the idea, he is proposing to get it built and built big. He asked the developer to make

the tower taller. His view is, if you’re going to do it, do it properly. That’s leadership.”

Bristol has grown rapidly – however people abroad ask, ‘where is that?’ – do you think it matters that Bristol isn’t as well known?

“It’s difficult – it’s known very well in certain areas. In the media and culturally it is well known – in the music industry, the film industry, the creative industries – Bristol is an absolute focus of attention. It depends who you are asking. Nationally I think it is very well known.”

What makes Bristol different to other cities?

“Interestingly, the lack of leadership over time and lack of big plans for the city has meant lots of opportunities for little plans. If you take a city like Manchester or Birmingham, they tend to make a master plan and say, ‘this is what we want to do’ – lots of funding, lots of energy and commitment and go ahead and do it.

“They build the new bull ring or they recreate the middle of Manchester with real commitment, real fast. Bristol has never done that. Bristol has small plans and doesn’t implement them all at once. It is incremental.

“That leaves lots of opportunities for small entrepreneurs and creative industries to fill in the gaps. So, a lot of what’s going on here is not new shiny tower blocks in the middle of town – it’s in Stoke’s Croft or the back streets of Bedminster, where small businesses are doing well.

“Birmingham was a city built on production lines, whereas Bristol goes off in different directions all the time, experimenting and changing its mind – because it’s a highlyeducated place, we are always self-critical.”

Projects Nick has been involved include: The Engine Shed & Hotel De Vere Tortworth Court

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Employment

So hungover I’ve called in sick again! Great time last night!

Problems within the team?

As an employer, it’s inevitable that – at some point – you’ll need advice from an employment law specialist.

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If this is you and you need help quickly, we offer practical, professional and workable

solutions that protect you, your interests and your business in tricky legal situations.

Or, keep us on hand to provide ongoing support to your business. By working in partnership with our clients, we get to know what’s important to you – enabling us

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Issue 19: July - September 2017

23

Advertorial:

Bristol City Region

College focuses support on regional economic growth S

ince the arrival of Lee Probert as Principal and Chief Executive at the beginning of 2016, City of Bristol College has focused on enhancing the employability of its students for the benefit of local employers and the sectors central to the city region’s growth plans.

The college, which works with some 700 employers and supports circa 1,600 apprentices, is aligning its work with the priority sectors that have been identified by the West of England Combined Authority, Local Enterprise Partnership, the businessled body charged with furthering the economic growth of the Bristol city region.

Providing work-ready people for businesses in sectors such as advanced engineering and aerospace, defence, construction, creative, digital and media, computing and IT, health and life sciences, high tech and low-carbon industries is the challenge.

existing employees who need retraining, particularly as higher level skills are increasingly in demand.”

The college’s focus on employability for local employers is also reflected in ambitious physical change. A £4m expansion of the College’s Advanced Engineering Centre (AEC) is soon to open. Funded by West of England Combined Authority/ Local Enterprise Partnership, it will enable the expansion of the College’s aeronautical and engineering provision, helping to meet a skills gap in a critical sector.

The 13,000 sq ft facility will include a number of specialist labs to support skills development in the design and maintenance of aircraft and engineering systems. It will also include state-of-the-art computer aided design and 3D printing equipment to support skills development in design and prototyping.

Key to strengthening links with regional employers is the College’s Partners in Business Board, which comprises key business figureheads across different sectors. The Board is designed to gain skills needs insights from senior business directors to help shape future provision and to raise awareness of what the College can offer across a wide range of business sectors. Probert says the college is keen to bring more business leaders into the fold, to gather the broadest range of views possible.

“The challenges faced and the skills required by businesses of different sizes and in different sectors can vary greatly, so it’s vital we continue to receive the input of business leaders.

“The door is open for more businesses to talk to us – this really is the most productive way to address any issues over skills gaps and employability challenges for the good of the region.”

Says Probert: “Employability is the key.

Rather than being seen as a provider of courses, our philosophy is one of “passports for jobs” – how can courses and modules contribute to moulding individuals that are confident and workplace-ready?

“We have really put the focus on re-engaging with the city, where our roots lie, rather than spreading our wings too wide. In doing so we have set about getting to grips with its skills needs and responding appropriately.”

Claire Thorogood, who was one of Probert’s first appointments at the College, as the Director of Apprenticeships and Employer Based Training, says: “We are interested in an ongoing dialogue with employers about their skills needs so we can respond accordingly. Increasingly employers are meeting up with our curriculum teams to help design programmes that are bespoke to their requirements.

“We are also not just talking to employers about students who will be entering the world of work for the first time but also

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Issue 19: July - September 2017

Lee Probert

Above L-R: David Snell, Operations Director at Kier Western and Wales, Lee Probert, Chief Executive and Principal at City of Bristol College and Adam Powell, Director of Skills at West of England Combined Authority/Local Enterprise Partnership

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Issue 19: July - September 2017

25

Challenger Banks:

Panel Debate

What impact are challenger banks having on the market?

With more challenger banks – the definition of which is open to interpretation – entering the market, BLM met with three industry figures to find out more.

Gary Wilkinson CEO, Redwood Bank

Andrew Bloom CEO, Masthaven Bank

WHAT ARE SOME OF THE KEY CHALLENGES IN DEVELOPING A NEW BANK? Gary Wilkinson: “The first challenge that you need to overcome is finding investors who are willing to back you and provide the necessary funding to support your business plan and your growth.

“You also need to have a viable business plan that is deliverable, realistic and acceptable to the regulator. Without that you won’t be able to cross the line and get the necessary authorisation.”

WHAT DO YOU THINK THE FUTURE OF BANKING WILL LOOK LIKE? Gary Wilkinson: “There have certainly been some changes in the banking environment, in the last eight or nine years. I think there will still be the need for the mainstream banking industry in the next five to ten years.

“I do also believe there will be many new

Ian Walters MD, Metro Bank

challenger banks that continue to enter the market and provide competition. There are a lot of niche areas that the major banks are not servicing and there are issues with helping SMEs with access to finance.”

WHAT ARE YOUR PLANS FOR GROWTH IN THE NEXT FIVE YEARS? Gary Wilkinson: “Well we haven’t gone public to say exactly what are plans are – we are not saying what level of capital we will have. We are planning on a cautious and measured entry into the market. We will ensure we will do this in a risk adverse manner.

“It is a relatively prudent and conservative business plan that we have put together by design. Based on our numbers, I would expect over the next five years we will be building our balance sheet circa £1 billion.

So, relatively small.”

Ian Walters: “I think in terms of 2020 we’ll be 110 stores and we’ll have around two

“What we are finding, is that within the UK banking market there is a lot of pent up frustration and dissatisfaction with the established incumbent banks.”

Ian Walters

26

Issue 19: July - September 2017

million customer accounts. We currently have 2,800 colleagues and I think we’ll have about 5,000 colleagues by 2020.

“In terms of a couple of financial metrics, we think in 2020 the loan to deposit ratio will be about 80%, and the return on equity will be around 18%. We’ve had now a few quarters of profitability and we’re on track with those numbers.

I think in terms of regulation there will be things around data protection, but nothing that is fundamentally going to change.”

DO YOU HAVE A CERTAIN TYPE OF CUSTOMER YOU ARE LOOKING TO ATTRACT? Gary Wilkinson: “We are entirely focused on SME customers; and will be lending to owner occupied businesses as well as experienced landlords.

“Regarding the latter, they will have commercial or residential properties, or both, that they will invest in and we will service these customers. On the deposit side, we will be looking at a wide range of businesses, clubs, charities and associations who will invest in our deposit accounts.”

Andrew Bloom: “On the savings side, we are looking for people interested in getting attractive returns on their savings and are fed up with the low savings rates which some of the mainstream banks offer.

“They will be looking to have a smooth, clean online journey and they value their time setting up these accounts. They also need to be digitally comfortable. But we also provide a London-based telephone sales servicing support team for people to contact and call up and speak to a real human being.

“On the lending side, it still falls, very much, under the vision of human digital banking but the lending profile is people who need flexibility, they need someone to look at their individual requirements and that is why we manually underwrite all cases.

Business Leader - The magazine for business and enterprise

Challenger Banks: “We don’t use credit scoring. An individual underwriter looks at an individual case and decides based on this– which is treating that customer fairly and meeting that person’s needs.”

Ian Walters: “We provide a great service to all types of customer. What we are finding, is that within the UK banking market there is a lot of pent up frustration and dissatisfaction with the established incumbent banks and so when we set out the original vision, seven years ago, the aim was to have a million customer accounts by 2020. We have revised that now to two million.”

THE DEFINITION OF ‘CHALLENGER BANK’ CAN BE QUITE CONFUSING – WHAT DOES IT MEAN TO YOU? Gary Wilkinson: “It can be a little bit misleading in terms of what a challenger bank is. I don’t think it is about challenging the big, mainstream banks – I think they will continue to dominate the market.

“I do, however, believe that challenger banks will provide alternative provisions of finance to customers, albeit individual, consumer customers or, as we are doing, SMEs and other customers. I think it will provide customers with more choice and provide greater competition within the marketplace.”

Panel Debate “We felt there was a huge gap on the savings side because the mainstream banks can raise their money cheaper via various government lending schemes and hence they do not need to attract savers – so they were almost treating savers with contempt.

“Equally on the lending side we were looking at those people who are credit-worthy individuals but they were excluded or having tremendous difficulty in the mortgage market because they didn’t fit a certain tick-box matrix. Different does not mean risky. This is what spurred us on and what differentiates us from other banks who are entering the mortgage market.”

HOW ARE YOU USING TECHNOLOGY TO DRIVE GROWTH AND EXPANSION IN THE BUSINESS? Andrew Bloom: “Technology has been used to assist consumers on both the savings and lending side. For example, we have a product where you can choose the duration of your fixed-rate term.

“Not everyone wants to go into a branch and some people want to deal with their finances on a Sunday at 10pm, so using a

digital medium gives customers enhanced flexibility.”

Ian Walters: “I think there’s something quite interesting around PSD2, which stands for Payment Services Directive Stage 2. We think this could be quite exciting.

“It’s all about how the banks can make certain customer data accessible to third parties via an API layer. It’s not a million miles away from what the CMA has said around open banking.

“That opens up the opportunity to work with other partners to create some fantastic experiences for customers.

“Fundamentally it’s about creating a great customer experience and giving customers a choice of how to interact with their bank.

Amazon is a great online experience but it’s only good if your books arrive on time, so the different channels need to be integrated seamlessly. I think that’s the future for technology and I think there’s a demand from customers to do more self-serve but we firmly believe that customers should be able to choose how they interact with their bank.” 

Andrew Bloom: “We prefer the term specialist bank because there may be other banks who have a high-street presence and are looking to challenge the high street banks by having a branch in the same location, but that is not Masthaven’s aim.”

WHY HAVE WE SEEN SUCH A RISE IN THE NUMBER OF BANKS ENTERING THE UK MARKET? Andrew Bloom: “Any entrepreneur must start off by not looking at what they want to do, but looking at what there is a demand for – what do customers want?

“Any entrepreneur must start off by not looking at what they want to do, but looking at what there is a demand for – what do customers want?”

Andrew Bloom

Business Leader - The magazine for business and enterprise

Issue 19: July - September 2017

27

l Taylor Review:

Employment

What are the findings of the Taylor Review and how will they impact businesses?

I

welcome the Taylor review of Modern Working Practices published in July. Unlike many proposals to change employment laws, Taylor has taken a non-partisan approach which aims to build on the "distinctive strengths" of the UK labour market, governance and regulation which the report describes as the "British Way". As the Brexit vote, the last general election and the appalling tragedy of the Grenfell Tower fire have all demonstrated, we are in danger of creating a very polarised society, which is also demonstrated by "in work poverty", particularly for those who do not have any guaranteed weekly working hours.

As Taylor says, "ensuring all work is fair and decent with realistic scope for development and fulfilment relies on the provision of quality work".

So, how can our society achieve "Quality Work" and what should business be doing now and what legislative changes, amongst those suggested by Taylor, do I think are most likely to be introduced in the next 24 months?

Employment quality: Whilst "zero hours" contracts will be retained as part of the UK's flexible labour market, I think a guaranteed minimum weekly hours for all workers with a minimum hourly rate above the national minimum wage/living wage is a likely change to allow all workers to plan their finances with more certainty.

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Issue 19: July - September 2017

Clarity on Employment status: Employers will be required to provide clear information to people when they start work as to whether they are "employees" (with full employment rights) or "workers" (people who are not employees but who enjoy a more limited set of key rights).

The category "workers" may be renamed "dependent contractors", and a key right which is currently only enjoyed by employees will be adapted and extended to them, namely that on day one they should receive a written statement of their statutory rights and the particulars that apply to them in relation to matters such as working hours, basic pay, holiday pay, sickness benefits etc. I think these statements will make clear that it is not the business that decides a person's employment status but the law. The Government may develop an on-line tool to help people assess their status, and I also think a quick determination service either through the employment tribunals or ACAS will be introduced. I have seen these work very effectively in Spain where a judge got through six cases in an hour.

Work Life balance: More employers are getting used to the cultural shift towards agile and flexible working, where employees commit to deliver their job tasks in return for flexibility as to when they do it, provided the employers' realistic requirements are met.

The idea that flexible working does not work has had its day except in some (but not all) senior leadership roles.

Engage with your workforce: Evidence shows that discussing the needs of the business and the needs of your people has

“More employers are getting used to the cultural shift towards agile and flexible working, where employees commit to deliver their job tasks in return for flexibility as to when they do it.� positive productivity and cultural benefits for all.

Implementing many of the Taylor recommendations should have cross-party support. The benefits of these changes should lead to less worker stress and a greater tax take, both of which are necessary to increase the civility of our society, UK productivity and the resources available to underpin UK infrastructure. The report deserves to be understood at Board level.

Julian Hemming is co-chair of Osborne Clarke's international employment law group and advises clients around the world on workforce issues.

Contact Julian Hemming today on Tel: +44 (0) 117 9173582 or email julian.hemming@osborneclarke.com

www.osborneclarke.com

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Ones to Watch:

Heat Recruitment

THE ONES TO WATCH SERIES IS SPONSORED BY GRANT THORNTON UK LLP One of the world's leading organisations of independent assurance, tax and advisory firms T: 0117 305 7600 | E: harry.walker@uk.gt.com | www.grantthornton.co.uk

One volunteer is as good as ten conscripted staff – BLM met with Steve Preston to find out his recipe for success

B

uilding a successful business is hardwork. Changing the perception of an entire industry, is even harder.

But fresh off the back of winning a Lotus Award for great business culture – the first recruitment business to do so – Steve Preston, Managing Director of Heat Recruitment, is having a go at achieving both.

Having set up the business in his back garden in 2006 - it specialises in recruitment for the insurance, accountancy, legal, engineering, IT and financial services sectors – Steve now has a team of fifty plus staff and is based at One Castlepark in Bristol, the company’s fourth office.

Culture What strikes you when you first visit Heat’s offices is the positivity and evidence of creating a culture that puts the employees and their well-being first. Whether it’s the table tennis table or games machines, it’s clear Steve is determined to shake off the perception that recruitment is a numbers game and staff just mere fodder.

And beyond the superficial evidence in the office, Steve has also made mental health and wellbeing central to the company’s values. It’s a policy that has seen the company achieve around 90% staff retention.

He comments: “It’s not just about putting a table tennis table in the office. It’s also about creating a working culture that puts the staff first and gives them both flexibility and a clear sense that if they work hard and achieve, they will be rewarded.

“Mental health is very much a key discussion point now. We very rarely talk about how we are feeling mentally. It doesn’t mean that we have issues or problems but it means we are 30

Issue 19: July - September 2017

sometimes feeling a little down in a certain area. People spend a lot of time at work, so they should be able to discuss this.

infrastructure around this growth. When you move offices that is just the start – it’s also about the fit out.”

“We have brought in break out areas where people can relax but still work in that area.

We also have a concept called wellbeing Wednesday where people can give their ideas on how they may like to improve their working environment.”

Regarding the recruitment landscape in general, Steve says that there has been stagnation when it comes to wages.

“Like any business, we still have to deal with recruitment issues ourselves – we have to find good people and that can be a challenge. The ‘recession’ has also been one. We’ve seen the FTSE at lowest and the FTSE at its highest and this can affect recruitment.”

Success In addition to creating a successful working culture, Steve and the team have also seen the company achieve commercial success. It is on-course to hit a turnover of £4.5million and has seen exponential growth over the last four years.

But what have been the main challenges?

Steve explains: “Like any business, we still have to deal with recruitment issues ourselves – we have to find good people and that can be a challenge. The ‘recession’ has also been one. We’ve seen the FTSE at lowest and the FTSE at its highest and this can affect recruitment. Thirdly, another challenge has been finding office space as we grow and building the relevant

He comments: “There are a lot of jobs that are paying a similar amount of money to what they were ten years ago. In some cases, wages haven’t increased at the same rate as living costs.

“We see a lot more counter offers too, when someone is about to leave we have got to prepare against the counter offer because that organisation will probably review their salary and therefore the person stays.

Having said that, the market is buoyant and we’re seeing that companies are looking to recruit and that they still want to grow.”

Future For the future of the company, Steve is ambitious. He comments: “The sectors we are in now are buoyant enough for us to keep expanding. I have a duty of care to keep growing the business – I have a head count target of 100 people and then I will probably move the goal post again, once we hit that.

“You constantly keep thinking, where is your profit, where is your turnover. From 2012 to 2016 we have gone up 504% on our turnover so, it has been a remarkable period.

I’m also keen to ensure we stay at the forefront of technology and keep improving the customer experience.

“It’s also about the staff and we want to keep building a fantastic culture. I take the view that one volunteer is as a good as ten conscripted staff – I want people to love working here.”

Business Leader - The magazine for business and enterprise

Steve Preston - MD, Heat Recruitment

The Heat Recruitment team

Business Leader - The magazine for business and enterprise

Issue 19: July - September 2017

31

Export & International Business:

Debate

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The Line-up Trevor Debenham Somerdale Chris Couzins-Short Tudor Rose Paul Brown MHI Tim Harrap Lye Cross Farm Richard Lowe China Bureau Martyn Jones Weston’s Cider John Rubidge Business West Ewen MacGregor Bond Dickinson Katerina Kallias Aon plc Neil Douglas Viper Subsea Jonathan Pratt Yeo Valley

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Issue 19: July - September 2017

Business Leader - The magazine for business and enterprise

Export & International Business:

Debate

SPONSORED BY AON RISK SOLUTIONS EMPOWERING RESULTS FOR CLIENTS USING INNOVATIVE RISK AND PEOPLE SOLUTIONS T: 0117 948 5007 | E: peter.grocock@aon.co.uk | www.aon.co.uk

Post-Brexit vote how are South West exporters holding up?

WHAT ARE THE TOP-LINE CHALLENGES FACING EXPORTERS IN THE ROOM?

you can’t make a decision and I don’t think government can make a decision either.”

Neil Douglas: “Our challenge has been that the business not only has to become known in these different countries but it needs to gain exposure and to understand the different trading challenges, within those different entities.”

WHERE DO YOU SEE YOUR GROWTH MARKETS AND OPPORTUNITIES?

Paul Brown: “In the early days, we were a domestic company that felt we were on an island off the north coast of Europe. A lot of our competitors were not looking at Europe as a market space. E-commerce has grown and smaller companies have started to recognise export.

“The weak pound seems to have encouraged more companies to export, which is a positive thing. All exporters need to be careful of ensuring they are adjusting their prices accordingly though, so when the pound recovers they don’t get hit with price rises.”

IS THIS CLIMATE EASIER OR HARDER TO TRADE IN? Paul Brown: “The changes in regulations across Europe in the last five years has made it easier. The challenge is now global exporting, to America and Asia. Has it become easier? It has always been a challenge but you just must get the volumes right.”

WHAT COUNTRIES DO YOU EXPORT TO? Tim Harrap: “70% of British cheddar goes into Europe and 50% of our exports go into Europe – so it is quite an important avenue for us. We have strong sales into the US for manufacturing products and retail. Because of the EU/South Korea FTA, we have been able to export added value into the Korean market and gain some traction there.

“In the current climate, the challenge is that

Jonathan Pratt: “Everyone has spoken about China but it is fraught with difficulties, particularly with organic food. There is a lot of effort that sucks up a lot of resource when Europe is much easier for quicker wins; and we operate in short-life products and there are many challenges with that.”

“If you have something of value and there is a demand in the market then they are the key triggers for businesses to think about export. If we get hung up with Brexit we are never going to do anything.”

Richard Lowe

HAS BREXIT MADE IT MORE LIKELY YOU WILL EXPAND OPERATIONS? Jonathan Pratt: “The biggest impact for us is that we have bought raw materials from Europe so there has been a significant cost impact for us. Brexit hasn’t had a large impact on our exporting business but from a buying perspective it has.”

WHAT ARE THE FAMILIAR CHALLENGES YOU ARE FACING? Chris Couzins-Short: “There are many challenges. I think the Brexit impact for us has been quite minimal. You had the initial currency benefit straight away, although a lot of people were locked into contracts at that point so not everyone felt the full benefit of that.

“From a manufacturing point of view, we work with 30 manufacturers from around the globe. When you look at the UK ones, they are looking to put the prices up because the costs are going up. We are looking at price increases from anywhere between 8-15%, which eliminates any benefit you get from currency.”

ARE MORE BUSINESSES EXPORTING FROM THE SOUTH WEST? John Rubidge: “We are still trying to find the companies – there is not a queue at

Business Leader - The magazine for business and enterprise

our door. The perception of trade is that it is difficult and the mechanics of it frighten some people.”

Jamie Douglas: “If you look in the South West there are around 220,000 registered businesses. If you look at HMRC figures, just under 6,000 of those are described as regular exporters. There is probably in total 18,000 businesses that we have identified that have a product or service that could compete in international markets.”

Ewen McGregor: “We will start getting a period of stability and then the results of the General Election may ultimately have an impact on the way we leave Europe. So, I think people are looking to move to new markets and I think that itself creates a lot of challenges. There is a huge pressure on people to be looking to export and I think sometimes it can be a vanity project.”

Richard Lowe: “If you have something of value and there is a demand in the market then they are the key triggers for businesses to think about export. If we get hung up with Brexit we are never going to do anything.

Cont.  Issue 19: July - September 2017

33

Export & International Business:

Debate

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“I think ‘Brand Britain’ is still strong. When you go abroad you still see the Union Jack on products and British made is seen as a positive. It is deeply embedded in the world’s psyche in that respect.”

Trevor Debenham

“What I have realised over time through researching the market, is that you need to go out there, get on a plane, talk locally to people in the markets – you can’t beat that.”

John Rubidge: “The optimism is something that you need to have if you are in business anyway because if you are pessimistic you won’t get very far. For the last four years the South West’s dependence on the EU and US has been big. There needs to be something that can shift the balance. Last year exports from the South West grew to the EU and the US. See export not as an extension of what you do but see it as an opportunity.”

They tell me about emerging economies and where they have seen opportunities, they have done their due diligence and they are very interested. The discussion around Brexit for me, day-to-day with companies, doesn’t come up because we are not talking about European markets most of the time.”

HOW DO YOU WORK TO ASSESS RISK? IS THERE A STRONGER ROLE FOR ADVISORS IN HELPING COMPANIES EXPORT? Katerina Kallias: “Aon are very much risk managers as well as insurance brokers and various other things as well. We cannot physically help businesses grow but we what we can do is give as much advice as we possibly can.

“First, to identify the risk that will potentially emerge as a result of exporting or actually setting up an operation overseas; because at the end of the day our clients need to focus on growing their businesses. They have an awful lot to do and the due diligence and the research that goes into export overseas and

“It is a little bit of the British mentality that we might be good at stuff but we don’t want to tell the world.”

operating international is incredible.

“We look at our clients and tell them where they might be stopped in their tracks. A lot of the time, the risks and exposures – they are not insurable but you still have to be aware of them and that’s where we come in.”

DOES ‘BRAND BRITAIN’ STILL HOLD SWAY IN OVERSEAS MARKETS? Trevor Debenham: “I think ‘Brand Britain’ is still strong. When you go abroad you still see the Union Jack on products and British made is seen as a positive. It is deeply embedded in the world’s psyche in that respect.”

Paul Brown: “It is a little bit of the British mentality that we might be good at stuff but we don’t want to tell the world. Outside the UK, there is a real demand for British products and services and as an exporter you need to remember that if I am going to send something half way around the world, it is not going to be cheap so there is a premium for that.”

Jonathan Douglas: “Every time I have heard the ‘Brand Britain’ discussion, it is almost exclusively a backward-looking type of branding – the history, heritage and the quintessential Britishness but that is quite sector specific. It’s worth considering championing things like technological expertise, engineering and innovation too.” 

Jamie Douglas: “What I find, when I meet companies is that they are educating me.

Paul Brown

34

Business Leader - The magazine for business and enterprise

Issue 19: July - September 2017

IT Support

Cloud Services

Web Design

Security

Communication

Is your small business ready for GDPR?

By Chris Pottrell - Managing Director, Nebula IT

25 May 2018. It’s an important date for you, but what does it mean? No, it’s not your mother-in-law’s birthday. It’s GDPR day.

Say what? It’s a major piece of EU legislation concerning data protection that is being introduced. It will have implications for nearly all businesses.

You’ve clocked that it is EU legislation, so perhaps you’re thinking it won’t matter because of Brexit. Wrong! We will still be in the EU when it comes into effect. And once we leave, the UK government has indicated it will introduce legislation that mirrors EU rules anyway!

GDPR (General Data Protection Regulation) is designed to give European citizens more control over how companies use their personal data. It will be backed up with harsh penalties - does €20 million or 4% of global turnover make you take notice?

Are small businesses exempt from GDPR? The short answer is no. Small businesses will be affected by GDPR.

If you are collecting, storing, handling or processing personal data, these rules are going to be relevant. Here are some of the issues that you will have to deal with: • Explicit opt-ins. You will now have to get explicit opt-ins where people have been told exactly what they are signing up for.

You can’t collect email addresses for one purpose and then use them for something else.

• Accountability and a paper trail. You must have the systems in place to record customer consent. It may also mean that you will have to document decisions you take about using data.

• Breach reporting. This relates to a breach of security that leads to unauthorised disclosure of, or access to, personal data - or the loss, destruction or alteration of that data. You’ll have to report it to the regulator within 72 hours of discovery and potentially to individuals concerned. You will also have to investigate the breach and take action.

Business Leader - The magazine for business and enterprise

Next steps for GDPR Although the launch date is in 2018, you need to act now. The best starting place is to understand what data you have, where it’s stored and who has access to it.

Once you have this understanding, you can start to plan. Ask yourself questions like “Do we use data solely for the purposes we have disclosed? What effect will our activities have on our data?”

We’ve given you a starting point. But there is so much detail that we can’t cover everything in one article. We’d suggest the next step is to talk to an expert.

Chris Pottrell advises businesses on strategic IT solutions. If you’d like to discuss GDPR, call Nebula IT on 01454 534 009.

www.nebulait.co.uk Issue 19: July - September 2017

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YOUR 201 7

HOST

AWARD CATEGORIES INCLUDE: Business in the Community • Green Business of the Year • Marketing Campaign of the Year • Innovation & Technology Award • Customer Excellence Award • Export & International Business Award • Employer of the Year • Rising Star Award • Commercial Property Award • Entrepreneur of the Year • Start-Up Business Award • Corporate Deal of the Year • Business of the Year (1-10 employees) • Business of the Year (11-50 employees) • Business of the Year (51+ employees)

Visit blawards.co.uk for more information or 36

Issue 19: July - September 2017

Business Leader - The magazine for business and enterprise

DON

SEPTEMBER 28TH

Boo ’T MIS k at b your ta S OUT lawa ble ! rds. toda co.u y k

A FANTASTIC & PRESTIGIOUS NIGHT TO CELEBRATE ENTREPRENEURS & PROFESSIONALS IN THE SOUTH WEST REGION The date when visionary business leaders, entrepreneurs and professionals come together for the prestigious Business Leader Awards – the South West’s most prestigious and influential business event.

Held at Ashton Gate, Bristol, and hosted by the legendary Jeremy Vine, the evening recognises and celebrates the most dynamic and successful companies, entrepreneurs and rising stars.

15 exciting award categories, exquisite champagne reception and 4 course gala dinner, and a fabulous evening of entertainment and networking among the regions business leaders.

book your tickets today, call 0117 325 7779

China: Review

Six British brands

making waves in China and what you can learn from them popularity in China is huge and so when he put his name to Haig Club Whisky – they received a wealth of interest and sales.

‘Brand Britain’ is on the rise in the world’s most populous country, China.

Quintessential Britishness, the Royal Family and even David Beckham help in the growth and reach of businesses; as well as the well-regarded manufacturing, design and commercial credentials.

Adam Vines, CEO of Join in China, a Gloucester-based company who help companies get contacts within China, explains how British brands have grown.

Britain has long been regarded as producing stunning and well-built sports cars and they have long been a symbol of success. Within the Chinese business community, you would often see executives driving Bentley, Aston Martin and Jaguar cars.

He comments: “Brand Britain is really recognised as excellent quality, good craftsmanship and our design skills are fantastic. It doesn’t matter if it is consumer goods or manufacturing, or any business sector because it is down to quality.

However, this has changed in recent years.

Vines comments: “Bentley have done well but I have seen a downturn in the last couple of years, as have most luxury brands.

The issue has been corruption and bribery in the past.

“It’s not a case of putting a Union Jack on a product and then you are going to sell in the millions, it’s got to be more sophisticated than that, but it’s not a bad start.”

“A couple of years ago people where happy to show off their luxury brands, that has now subsided as people don’t want people to think that it was because of any kind of bribe.”

So what are the brands that have been successful?

Despite China being equally, if not more famous for producing and drinking tea then Britain – British tea companies have excelled in recent years. Where Pukka have excelled is in their advertising.

Vines comments: “Pukka Tea have done really well and their branding is really different. Tea is such a central part of Chinese life and they tend to brand on quality, so when somebody comes to the market which is a lot quirkier and it’s from the UK, they have done a really good job. They have gone into a traditional market and done something differently.”

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Issue 19: July - September 2017

Unlike the high-end luxury brands, British middle-class clothing lines have excelled.

Where Gucci and Louis Vuitton have fallen victim to the bribery-linked brands, Mulberry’s low-key start in China helped in its sales.

They didn’t go all-out advertising with huge stores and billboards, yet launched with ‘Brand Britain’ at the forefront of their marketing.

If there is one man who encapsulates growing a brand, whether it’s himself or any of his companies, it is David Beckham. His

Vines explains: “There is a bit more of a drinking culture now in China and business gifts are still huge. The fact that David Beckham is associated with this whiskey and the branding is quite modern, they are trying to appeal more to the thirty-something demographic rather than anyone older, who also happen to be the level of management who would be receiving this as a gift.”

Despite having Japanese characters on their clothing, a country China has a fraught history with, Superdry have adopted a more Union Jack-themed range and have been successful in the same way as other middle-class brands.

Having started in Hong Kong, young Chinese men and women have been drawn to the high quality and ‘Brand Britain’ theme the Cheltenham-based company have introduced themselves as.

The world’s leading vacuum supplier has made huge strides throughout the world with their products, and China is no different.

Vines said: “You can walk into a room and instantly know it is a Dyson, and these kind of marketing brands are targeted across the world at people who like good design, good quality, well manufactured products and China is no different.”

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Stephen Robertson awarded honorary degree for contribution to Bristol business

Stephen Robertson is to be awarded the Honorary Degree of Doctor of Business Administration (HON DBA) by the University of the West of England (UWE Bristol) in recognition of his contribution to Bristol Business and academic business engagement.

Stephen is Chairman of Retail Economics (bespoke research consultancy), Non-Executive Director: Timpson Group (privately held services retailer), Hargreaves Lansdown plc (FTSE 100 consumer financial services), Sofology (furniture retailer) and Clipper Logistics plc. Stephen is a Visiting Professor at Bristol Business School at UWE Bristol.

He spent seven years as Marketing Director at B&Q before leading the acquisition of Screwfix Direct which he then chaired through a period of strong growth. He went on to become Director of Communications at Kingfisher plc and took the helm of the Ellen MacArthur sponsorship programme. Subsequently, he served on the boards of WHSmith and Woolworths.

www.albertgoodman.co.uk

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Grand Ambitions T

he economic profile of Weston-super-Mare and North Somerset is changing fast. A multidimensional economy shaped by its landscape.

Rural industries and the food and drink sector prosper on the Mendips, while heavy industry and a major international distribution hub prosper at Bristol and the Royal Portbury Docks in the north. Across the region the leisure and tourism industry thrives and innovative and entrepreneurial businesses flourish.

Out of the region, but nearby, Bristol is a major commercial, financial and cultural centre and the Hinkley Point C development presents opportunities for businesses in the construction, nuclear and related industries.

Weston-super-Mare is prominently located at the gateway to the South West. Over recent years the town has benefited from significant commercial investment, award winning regeneration schemes and is now poised to reap the rewards. Developments at Weston College, the Junction 21 Enterprise Area (J21EA) and FoodWorksSW are a clear investment in new infrastructure designed to grow North Somerset’s skill base and foster innovative businesses.

North Somerset is creating the right conditions for high-value companies to succeed by helping them set-up or relocate and then grow. One such business is accountancy firm, Albert Goodman, which is driving forward an ambitious growth plan for its audit, accounting and tax consulting services in the region. They have built a strong reputation for advising businesses, their owners and high net worth individuals in Somerset, Dorset, Devon and the wider South West.

Stephen Robertson said: “It is both a pleasure and an honour to receive this recognition from the respected and innovative Bristol Business School.”

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Albert Goodman’s growth strategy has seen the opening of larger offices in Weston-superMare at Worle Parkway following a merger with successful North Somerset accountancy practice, T P Lewis & Partners in May 2015.

Chris Walford, a Partner from the firm’s Weston-super-Mare office, commented on the firm’s recent expansion in North Somerset, saying “Since our successful merger with TP Lewis & Partners, we have taken on larger offices in Weston-super-Mare as part of our expansion strategy. We are investing in and expanding our local team to support businesses and their owners in North Somerset.”

Albert Goodman prides itself on its client focused approach. Staff take the time to understand their clients’ needs and provide proactive advice to help them achieve their ambitions.

Commenting on Albert Goodman’s approach, Chris Walford continues, “At Albert Goodman we believe in providing a service which is different. Promptness and pro-activity together with value for money are at the forefront of what we do. Above all, we identify with people and help cut through complexity by explaining issues in a straightforward and understandable way giving simple and effective ideas.”

“Our growth ambitions in North Somerset are clear and we would like to help similarly ambitious businesses by bringing our own “can do” attitude. We are confident that we can introduce some original concepts whether these are tax saving ideas, assistance with raising finance, business planning or business acquisitions or sales.”

For advice on growing your business contact Chris Walford at Albert Goodman’s Weston-super-Mare office.

T: 01934 642222 E: chris.walford@albertgoodman.co.uk

www.albertgoodman.co.uk

Issue 19: July - September 2017

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What next for Weston-super-Mare?

W

eston-super-Mare has seen a drastic and continuing transformation in recent years, and with the growth and development of University College Weston, The Hive and the Junction 21 Enterprise Area, it appears there is more to come.

Following the 2008 fire at the Grand Pier, which destroyed the pavilion, a £39 million redevelopment plan was put in place and two years later, it re-opened. As the re-born, focal point on the town, the pier attracted a reported 100,000 visitors in its opening weekend and it has continued to grow ever since.

Weston-super-Mare Other attractions and developments that have helped in Weston’s recent rise have been the Helicopter Museum, Sea Life Aquarium and the on-going developments at Weston College.

Dave Crew, Director of Business Growth at Weston College, comments on the future plans for the college: “It is an exciting time for us as we have the Law and Professional Services Academy opening in the Winter

Gardens in the coming months, which is a significant investment in the town and also supports the on-going regeneration of Weston.

“The College will be making significant investment in areas of our provision in the next few years including our health and active living provision with a new skills centre to train a future health workforce.

We will also be investing in construction infrastructure training facilities in Weston with an additional new skills centre to provide ground works and civil engineering training.”

With the continuing expansion of the nearby Hinkley Point nuclear power station, the college is also aiming to provide the South West with the necessary skills and qualifications for the years ahead.

University centre The University Centre Weston development at The Winter Gardens began in 2014 when they approached the council. A year later, development began and new teaching facilities are now available, as well as community space including the restored 1920s ballroom.

Crew continues: “The new skills training facilities in areas such as health, construction, law and professional services and digital skills including cyber security will support our objectives to provide outstanding educational opportunities in the town.”

Growth Regarding the wider economic future of the town, North Somerset Council’s Head of Economic Development Stephen Bashford comments: “With a population set to exceed 100,000 and an ambitious growth agenda, Weston has all the hallmarks to be a significant economic driver within the wider West of England.”

With the slogan, ‘Designed for life, built for business’, the Junction 21 Enterprise Area will enable further commercial opportunities for the town as its location adjacent to the motorway and throughout the town offers prime office space for the region.

As part of the area, the highly anticipated food and innovation centre will open to the public, in the hope of attracting manufacturers from across the UK. With these new office areas opening throughout Weston, it appears there is demand from businesses looking to grow within the town or is the space being filled by businesses looking to re-locate from further afield?

“Office stock grew by 600 (16%) between 2011 and 2016.

This has been driven both by healthy levels of start-ups and expansions of our indigenous firms. Much of this activity has been focussed on Junction 21 EA, with the Hive acting as a catalyst for new business creation.”

The new Weston College Law & Professional Services Academy

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Issue 19: July - September 2017

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Challenges too Despite the ongoing growth, Weston will be facing several challenges in its goal to become a prominent business area for the South West and the UK.

Dave Crew

Stephen comments: “Office stock grew by 600 (16%) between 2011 and 2016. This has been driven both by healthy levels of start-ups and expansions of our indigenous firms. Much of this activity has been focussed on Junction 21 EA, with the Hive acting as a catalyst for new business creation.”

Bashford comments: “Whilst the area has experienced healthy growth in its employment and business base in recent years, to move its economy to the next level it needs to continue to attract high value employment. This will increase competition, wage levels and, ultimately, standards of living for new and existing residents of the town and its hinterland.”

Crew adds: “We need to look at the transport infrastructure and see how it can be improved to increase opportunities for people. There is still some uncertainty around devolution and how North Somerset has a role in the region. Weston needs to keep working hard to attract new businesses and investment in the town. We need more businesses to move here to employ local people and support the economy in Weston.”

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In terms of transport, despite having reasonable rail links, Weston has been cut off from big businesses as all airport visitors have been pointed towards Bristol, Exeter and Cardiff. However, Bristol Airport recently started a daily shuttle service to-and-from Weston from 3am to 11pm.

Many questions are still also unanswered in terms of the devolution process; however steps have been made to tackle this. West of England metro mayor Tim Bowles comments: “We have got to be thinking ahead. We cannot solely solve today’s transport problems because as we develop as a region we have got to make sure we are linking into our economic growth.

“Transport is going to be key. Last month, we signed off approval to develop our transport plan. That will cover the combined authority and North Somerset. That is vital to ensure that the transport planned will meet the future growth points.” 

Issue 19: July - September 2017

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Flourishing food and drink sector

by Rebecca Dixon, Murrell Associates

N

orth Somerset’s food and drink sector has been quietly punching above its weight for many years and has become crucial to the area’s long-term economic success.

beginning to actively nurture the sector.

Many of the 50,000-plus rural jobs based in the West of England are in North Somerset.

Brexit and a weak pound inevitably create some tough challenges and uncertainties, but there also opportunities and the means to make the most of them in North Somerset.

Significant challenges However the North Somerset food and drink sector faces significant challenges.

The availability of commercial spaces on acceptable lease terms has been a key issue for a number of our clients.

The flip side of a weakening pound of course, is that it has the potential to open up new export markets. The demand for specialist, luxury and ‘heritage’ foods is increasing in emerging markets such as China and Malaysia.

Locally produced food Closer to home, locally produced food is becoming more sought after and local authorities and enterprise initiatives are

In North Somerset, FoodWorksSW will offer know-how, operating premises, training, product development facilities and many other services to local food and drink producers. Funded by the West of England LEP, construction on the project at the Junction 21 Enterprise Zone at Westonsuper-Mare should begin later this year.

Some food and drink businesses have found it difficult to secure premises at an affordable rent or with rent-free periods adequate to cover their fit-out and equipment costs. Similarly they have encountered difficulties in negotiating lease terms long enough to make fit-outs financially sustainable and a reluctance from landlords to offer security of tenure or rights to renew leases.

also experiencing the effects of the falling pound with ingredients, machinery and labour from overseas now more expensive.

For some overseas nationals, seasonal work in the UK is no longer their first choice.

Long term Longer term, access to the single market and regulatory compliance are of concern to all our clients but those in the food and drink industry are particularly vulnerable.

However the food and drink sector in North Somerset continues to develop and with the assistance of projects like FoodWorksSW, producers have a great chance to make the most of the opportunities available.

Murrell Associates offers legal services to small and medium-sized businesses.

We specialise in the food and drink sector and run regular seminars and know-how sessions.

For further details please contact Rebecca Dixon: rdixon@murrellassociates.co.uk

Inevitably food and drink businesses are

Is the UK prepared for the changing global world?

The latest edition of KPMG’s Global Change Readiness Index (CRI) ranks the UK as the nation 10th most ready for change, up from 13th place in 2015.

This puts the UK behind countries well recognised for innovation like Singapore (4th) and Germany (9th) but also ahead of global leaders like the US (12th), Hong Kong (13th) and France (20th).

Looking at the results in more detail, the UK ranks 7th for enterprise potential, 13th for government capability and 8th for societal robustness.

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Issue 19: July - September 2017

Ian Brokenshire, Enterprise lead in the South West, comments: “As the UK gets to grips with Brexit, some business leaders have become deeply pessimistic, seeing only the potential jeopardy and upheaval that lies ahead.

“Of course, the risks of Brexit are manifold and very, very real. Indeed many require attention with the greatest sense of urgency. But this study offers a more rounded perspective. It reminds us not to lose sight of the UK’s potent global strengths.”

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Latest News from

Junction 21 Enterprise Area

I

n July FoodWorksSW, the food and drink innovation centre on the outskirts of Weston-super-Mare moved another step closer with planning permission for phase one of FoodWorksSW granted. Earlier this year North Somerset Council successfully bid for £9.36 million Local Growth Deal funding from the West of England Local Enterprise Partnership to help fund the first phase of FoodWorksSW on five acres of land within the Food Enterprise Zone and Junction 21 Enterprise Area.

This Centre of Excellence will create a key focal point for food and drink manufacturers in recognition of the growing strength of the food and drink sector within the South West region.

For the first time in the South West, food -grade manufacturing units, product development facilities and specialist food and drink support will be brought together under one roof.

A specialist pilot business support programme already underway has supported 30 businesses with a variety of technical and specialist support on packaging, equipment, shelf life, recipe reformulation, scaling up, R&D tax credits, export, labelling, contract manufacturing, skills and training analysis and product process review. Once open the centre will continue to develop its work with facilities across the South West to draw together business support, funding programmes, facilities and know-how to make it far more accessible to business.

Building work on FoodWorksSW is expected to start this autumn with an anticipated opening of January 2019.

The new FoodWorksSW development

Alongside the milestone achievement of planning approval for FoodworksSW there continues to be healthy commercial activity and development across Junction 21 Enterprise Area.

Artists impression of the Holiday Inn Express Hotel

Planning permission has been granted for a 120 bed Holiday Inn Express hotel at Weston Gateway Business Park, on the A370 next to Knightstone Housing HQ. This £12 million investment should create some 50 local jobs. Opening is planned for summer 2019.

On an adjacent plot the council have granted approval for a campus of smaller light industrial units. While modest in scope, this speculative development further demonstrates strength in the North Somerset’s business base and demand from local business for new premises in Weston.

Elsewhere negotiations continue with commercial schemes emerging, particularly at Weston Business Quarter close to the North Somerset Enterprise Agency’s Hive building where 7 light industrial units around 3,000 sq ft each are proposed at Beaufighter Rd. Interest is understood to be strong with a number having been let off plan already; please do get in touch if you would like further information on these.

Please contact the Economic Development service for more information, Tel: 01934 426 266 or email business@n-somerset.gov.uk. @Foodworks_SW www.j21.co.uk @21EA www.foodworks-sw.co.uk Business Leader - The magazine for business and enterprise

Issue 19: July - September 2017

43

Crowdfunding:

Feature

Is crowdfunding set to go mainstream?

Oliver Mochizuki Co-Founder, Fundsurfer

Luke Lang Co-Founder & CMO, Crowdcube

W

hen you hear the term ‘crowdfunding’, it is likely you think of Kickstarter and thousands of people investing lesser amounts of money to pool together to help a project get off the ground.

However, the evolution of the market and the wide-ranging types of both investors and companies has led to it becoming a more accepted source of financing a start-up or scale-up business.

Business Leader Magazine spoke to Oliver Mochizuki, Co-Founder of Bristol-based Fundsurfer, and Luke Lang, co-founder and CMO of Exeter-based Crowdcube on the rise of crowdfunding and what the future of the of it will be.

As a relatively new way of sourcing funding, the industry has had to overcome the initial scepticism from investors and dismissal 44

Issue 19: July - September 2017

from mainstream lenders to evolve from a niche source of capital, to being the backbone of multi-million pound companies.

Shifting towards mainstream Lang explains the evolution of crowdfunding: “It has certainly shifted towards the more mainstream. It has become an accepted form of raising finance. If you look at the leading UK crowdfunding platforms, in terms of the number of deals funded, a sizable proportion of them are done on crowdfunding platforms.

“It is certainly having a material impact on those businesses that are able to raise capital through crowdfunding and those businesses are hiring – there is job creation and safeguarding of jobs. There are new offices opening, new products and services being launched which is enabling businesses to export overseas.”

Mochizuki concurs and sees the industry developing further. He said: “What we are seeing, in terms of the crowdfunding sector evolving, is that a lot of crowdfunding platforms have realised that they are not going to be the next Kickstarter. So, there’s a lot of diversification now in terms of the funding options.

“We are going to see a lot of diversification in terms of the services offered, but we are also seeing a much higher takeup now and understanding is increasing as crowdfunding becomes more of a mainstream funding option.”

Oliver Mochizuki

Business Leader - The magazine for business and enterprise

Crowdfunding:

“We are seeing more and more platforms offer access to additional funding options.

We are going to see a lot of diversification in terms of the services offered, but we are also seeing a much higher take-up now and understanding is increasing as crowdfunding becomes more of a mainstream funding option. It’s opening up massive opportunities to projects and companies which perhaps would have struggled to raise the start-up funding they need.”

Further evolution With further development and evolution on the horizon, especially in the niche markets, many crowdfunding platforms have been created over the last few years.

However, platforms that have managed to adapt to the ever-changing economic conditions and form of financing a business have grown quickest.

Material difference Lang said: “I think those platforms certainly are able to generate investment and liquidity and engagement from investors and have really sparked and peaked the interest of entrepreneurs.

“If you are an entrepreneur that has got a large community or customer base or a large network, there are lots of additional benefits of an effective crowdfunding campaign.

“If you execute effectively then there is the opportunity to get some publicity off the back of that success and have a PR bounce

Feature

“We have conducted research into the motives of investors and return on investment is always top of that list. They do it for lots of reasons but primarily it is because they think that the business is sound and that they think they will get a return at some point in the future.”

ground level for a project that someone personally believes in.

Lang explains: “We have conducted research into the motives of investors and return on investment is always top of that list. They do it for lots of reasons, but primarily it is because they think that the business is sound and that they think they will get a return at some point in the future.

as well. There are a number of benefits beyond just the capital but increasingly we are the place to come to get that access to that capital.”

“It is undeniable that there are other motives at play, whether there is social impact, an environmental impact, or a perceived economic impact of backing a business. I certainly think there are other factors at play as well. When you boil it down to why they invest into the business, it is all about the idea, it’s about the product or service and how that sits within the market and its competitive landscape.”

Supporting start-ups Crowdfunding has helped start-up and scale-up businesses from across a variety of sectors and has raised lesser amounts of capital as well as raising multi-million pounds of investment.

The future As two of the leading crowdfunding platforms in the UK, the need to adapt to the market is important and both men have a sharp vision of where their respective companies will be heading next.

To demonstrate how much crowdfunding has grown, last year, Crowdcube set a record of raising a staggering £1 million pounds in 96 seconds for Monzo Bank – they also had a £10 million raise for Scottish craft beer company, BrewDog last year.

Mochizuki said: “We are essentially going to become a tech enabled investment bank, while we will continue to offer crowdfunding services directly on the platform, we are also going to be looking at setting up investment funds, managing funds with investment bank partners in the US and UK.”

Luke Lang

However, unlike traditional sources of capital, whether it is a bank loan or government grants, crowdfunding encourages personal involvement from the

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Lang said: “We will continue to attract the best businesses to the website. Now, we are also testing through a beta market place how we might do secondary transfers of shares by creating some liquidity so early investors in the businesses might be able to sell those shares to someone else." 

Issue 19: July - September 2017

45

Property & Construction:

Debate

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What are the major issues affecting the

West property & construction sector?

CAN YOU GIVE AN OVERVIEW OF THE COMMERCIAL PROPERTY SECTOR? Gavin Bridge: “First, there are a lot of examples in the city of outside investors who have acquired sites or buildings and have developed plans for offices, which in my view are too big for the city.

“Take up figures show that most deals are sub-5000 sq.ft. and there are very few deals done over 20000 sq.ft. The HMRC deal is a once in a generation deal, which we narrowly missed out on.

“The second thing is that we are the only company – Cubex Land – that is building speculatively in the city and we are delivering buildings that we feel are the right size for the Bristol market.

“There is also a buoyant investor market in the city but the property industry needs to find a way of satisfying the demand that the technology, media and telecoms sectors have for de-furbed office space, that offers an easy in and easy out model.”

Jonathan Lambert: “One of the challenges over the last few years has been the flipping of certain sites between residential and office. There are examples where we thought

“We are seeing more people looking for space in creative technology space. It is a really emerging sector but it goes back to the issue about the flexibility of the rental.”

Andy Smith

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Issue 19: July - September 2017

something was coming forward for office but has been turned into residential instead. But this is going back the other way now.

“There is also an issue around affordable housing and the agenda from politicians is based around this and it has an impact in terms of risk for developers and delivering mixed use projects and the values that can be derived from them.

HOW ABOUT OUTSIDE OF THE CITY? Rebecca Dixon: “I do a lot of work in the Cornwall market and Exeter – we are seeing a lot of response for a need for spaces and I have a lot of clients who are looking to developing on standard buildings, which lend themselves to easy in easy out arrangements.

“The issue we then face is financing the project and it is tricky finding lenders who understand these buildings.”

Andy Smith: “We are seeing more people looking for space in creative technology space. It is a really emerging sector but it goes back to the issue about the flexibility of the rental.”

James Petherick: “I think there has been a tendency in the industry, including local authorities, to focus on space and the numbers they need. Office space is obviously very important and there is always a focus on creative industries and knowledge based industries but we recently did a job for a science based company.

a model. Apart from Aztec West and Bristol Business Park, I wouldn’t want to invest in anything in North Bristol – who wants to work in a two-storey office building where you cannot park and cannot get a train? It’s not ideal for attracting office staff.”

HOW DO THINGS LOOK FROM A RECRUITMENT PERSPECTIVE? Craig Davidge: “For senior to middle management, people are interested in flexibility and not so interested in 5-10% pay rises like they used to be historically. People are now also more interested in working from home.

“With start-up organisations, some of them might not take up a space for a year or two because of WiFi or internet but will get rid of one of their biggest overheads in terms of rental; and work remotely.”

WHAT ARE THE KEY ISSUES OF CITY CENTRE WORKING? Gary Sheppard: “I think the issue of city centre working is primarily transport and infrastructure. Also if you go back two years, there was an abundance of offices that wanted to become apartments and stuff like that. This year it has been more about turning residential into offices. What I would like to see is this two-year cycle where we can flip them back.”

HOW DOES BRISTOL COMPARE WITH OTHER MAJOR CITIES IN THE UK?

“They don’t want to be on the fringe of the city, they want to be near facilities. There needs to be a better understanding of what is going on in the economy. It is not as simplified as we sometimes portray in the planning system in research documents.”

Richard Bonner: “Developers are now getting more focused on the end users. That is being driven in London around technology businesses and we will see that filter down to here.

Gavin Bridge: “Business parks are dead as

Cont. 

Business Leader - The magazine for business and enterprise

Property & Construction:

Debate

SPONSORED BY ROSEMONT PARTNERSHIP EXECUTIVE SEARCH & INTERIM RECRUITMENT EXPERTS T: 01454 629 612 | E: info@rosemontpartnership.com | www.rosemontpartnership.com

The Line-up Gavin Bridge Cubex Land Tim Stringer Integral Build Craig Davidge Rosemont Partnership Chris Thomas CBRE Richard Bonner Arcadis Andy Smith Midas Construction Max Thurgood Clarkebond Rebecca Dixon Murrell Associates Mark Alker-Stone AWW inspired environments Lee Hawker Redrow Homes Gary Sheppard Helm Construction James Petherick JLL Mel Clinton Nash Partnership Rachel Bell Stride Treglown Jonathan Lambert Savills Business Leader - The magazine for business and enterprise

Issue 19: July - September 2017

47

Property & Construction:

Debate

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developer community and saying we have a building here that has been in a terrible state for years, and say, we need somebody to work with us to develop it.”

what is going to happen? My view is that everyone will continue as they are, certainly if they are in a protected and trained profession.”

CAN THE ELECTION OF A METRO MAYOR SOLVE SOME OF THESE ISSUES?

HOW DO WE INCREASE DIVERSITY IN THE CONSTRUCTION SECTOR?

Mel Clinton: “Yes, that is potentially an opportunity as is the Joint Spacial Plan.

Bristol has large central areas where there is low-density shared space.

Rachel Bell: “I think it is all about the image of construction. I have got some stats from the CITB for 14-19 year olds. More than half of them thought construction was outdoors and getting dirty.

“Some of those areas should be densified but to do that you are going to have to relocate those businesses. The Joint Spacial Plan is an opportunity to do that, if we want to be a serious city.”

Mark Alker-Stone: “We need to be radical with transport. They have got to consider introducing a congestion charge like in London to sort out the traffic in the city.

“The real demand is around the big regeneration areas and I think we must wake up to the fact that we’re not yet packaging up Temple Meads and attracting the big investors.

“There is a lot of money pouring in. Chinese investors remain hungry for products in the UK and London is a big destination point but that is rippling that out to here.

“From a regional perspective, in the West Midlands and in Manchester they have longdemonstrated their big vision and we need to do the same.”

Gavin Bridge: “We’d happily invest in Temple Meads as transport hubs are very appealing and this is where the future of developments may lie. Development around transport hubs, whether it is affordable housing, housing for private renters, space for start-ups and hotels – there is so much opportunity for development around Temple Meads.”

Tim Stringer: “Why isn’t there somebody from the council side who is coming to the 48

Issue 19: July - September 2017

“I believe there must be a fundamental change in the way Bristol and its environment thinks of itself. There also seems to be scant acknowledgment that the Bristol economy cannot survive without all the commuters from the area and actually until we get a strong Metro Mayor and acknowledgement that Bristol is a part of a much wider economy, decision making will be difficult.”

MOVING ONTO SKILLS, CAN YOU FIND WHO AND WHAT YOU NEED? Andy Smith: “Now, I would say we are at a crisis point when it comes to skills. The average age of a construction worker is 49 and they are male. You can see that there is a huge gap and we need to get young people working in this sector.

“It is about encouraging and explaining that the money and salary they can achieve is a lot better than the perception. Many would be shocked what they could earn. It is going to have to be a marketing campaign to transform the industry and make it seem attractive.”

“The solution is to go into schools and tackle it at this level. It is horrendous that some teachers don’t know about the industry and therefore they are saying, girls, you go and do hair and beauty and boys, you go and do the exciting engineering work.

“It is about getting that message across to teachers, so we spend a huge amount of time at careers fairs and going into schools, raising awareness of the careers available to them.”

WHAT HAS BEEN YOUR EXPERIENCE IN RECRUITMENT? Max Thurgood: “I will quite happily take on anybody who can do the job – whether they are part time or full time, and no matter their gender or nationality. I just want somebody who can do the job.

“That’s the problem at the minute – finding the people who you know will do the job. I would prefer experience but I am quite happy to train someone up. We have really struggled with this and I have been astounded at some of the people coming out of the colleges, lacking fundamental skills. They are not being taught the skills we need.” 

HAS THERE BEEN A CONTRACTION IN THE NUMBER OF PEOPLE FROM THE EU WANTING TO WORK IN CONSTRUCTION SINCE THE BREXIT VOTE? Tim Stringer: “There is a lag and a lot of question marks from people coming over from Europe and they are asking themselves Business Leader - The magazine for business and enterprise

News

Healthy level of demand in Bristol’s office market The Bristol Office Agent’s Society take-up figure for Bristol’s city centre in Q2 2017 was 141,670 sq. ft. This is 12% higher than Q1 but below the 5 year average, which is not surprising with two record years of take-up in the last three.

The largest deal in the city centre this quarter was the letting of 13,671 sq. ft. of first floor space to Jordan’s, at Orchard Street’s Temple Back. This deal, along with the letting of 5,995 sq. ft. of ground floor space to Mott Macdonald, an existing occupier of the building, means that the building is now fully let.

Grade A take-up has remained steady with a further 33,000 sq. ft. of space being taken out of the city centre market this quarter.

With only one new development under construction and one grade A refurb being brought to the market later this year, we await the impact of ever reducing supply on the development pipeline.

Bristol’s out of town take-up was at a similar level to this time last year, at 58,999 sq. ft. There were only two deals over 10,000 sq. ft. this quarter – Biz Space’s purchase of 17,891 sq. ft. at Equinox South for their use as serviced offices and the letting of 14,325 sq. ft. at Concorde House to YTL Property Holdings.

Offering an excellent environment for your business to thrive in • Meeting rooms to rent by the hour, half and full day • 12 fully furnished office suites • Suites ranging from 1 desk to 12 • Fibre-optic internet • Professional uniformed receptionists • Business centre team • Telephone and voicemail answering service • Fully-fitted shared kitchen, tea and coffee provided • On-site parking, covered bicycle parking • Maintenance • Mail Handling • Virtual Office Services

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At New World Business Centre, we strive to go beyond expectations & create a quality working environment! www.newworldbusinesscentre.co.uk Business Leader - The magazine for business and enterprise

Issue 19: July - September 2017

49

Challenges for Directors:

Debate

IN ASSOCIATION WITH THE INSTITUTE OF DIRECTORS SUPPORTING BUSINESSES AND THE PEOPLE WHO RUN THEM SINCE 1903 T: 0117 370 7785 | E: iod.southwest@iod.com | www.iod.com

BLM teams up with IoD to hold exclusive director’s debate About the debate

B

LM partnered with the Institute of Directors (IoD), who arranged for a panel of chartered directors to discuss the key challenges facing leaders in business and industry. The findings are published in this feature.

WHAT ARE THE MAIN CHALLENGES FACING DIRECTORS IN THE ROOM? David Doughty: “From my own business, and from my clients, it is that lack of confidence and insecurity that delays buying. It seems to be worse if you are older. There seems to be a lot more reasons for not making a buying decision…Christmas, New Year, Skiing, School Holidays.

“I think once we have government with a good majority – whatever flavour it is – and once we have seen the way Brexit is going, I think then it takes out two of the reasons.

“It is easy to think that everything has been invented but there is still a lot of things that can be done and are being done. Investors, in our experience, are backing those thing’s.”

Nick Sturge

50

Issue 19: July - September 2017

People tend to look for excuses. It is the entrepreneurs who aren’t looking for excuses though, they are looking for reasons to take opportunities.”

HOW IS INVESTOR CONFIDENCE HOLDING UP? Nick Sturge: “I have a very local perspective in that respect, both in terms of a sector view and from a geographical perspective. Within this context, we have seen a significant step up in terms of the level of investor activity and that is critical in the initial stages.

“So, we are seeing more activity which is my closest estimation to confidence. I do think that, having spent time out of Bristol and the South West, there is a difference in the sectors and the markets here in this part of world compared to other places like London and Manchester – who have a larger volume of activity, so some of these businesses are formed on a false premise.

“There is a lot of hype around start-ups and some them don’t get anywhere. What we see is perhaps less start-ups but the ones who do start-up are more likely to stay and be solid.

“It is easy to think that everything has been invented but there is still a lot of things that can be done and are being done. Investors, in our experience, are backing those thing’s.”

WHAT CHALLENGES ARE IOD MEMBERS FACING MORE BROADLY? Simon Face: “The range of challenges is almost unlimited, but one people are worried about is around the future of the workforce and where future labour is going to come from – particularly post-Brexit. So, while we have a little time to work things through, it is not a huge amount of time – about 18 months. Things are going to change,

particularly in manufacturing and food.”

Mark Saxton: “I don’t think we have 18 months, I think the issue is right now.

Certainly, in the health sector – it is here now. We celebrated diversity day – 49 different nationalities in a small district general hospital – that is quite staggering for Yeovil.

“There are a couple of things I would also like to say. I think this pay vs Retail price Index (RPI) is just a train coming down the track.

That is a big issue I think certainly in the health sector with a 1% cap.

“Generally, too, I worry about the global trend of disengagement, the Trump type of reaction. Two major political parties in France were eliminated and it is a new model in France. I think the have’s vs the have-nots are also a major issue facing us locally and globally.”

WHAT WOULD YOU SAY ARE THE MAIN GLOBAL RISKS FACING DIRECTORS? David Doughty: “Globalisation is having an affect but I am not sure it is having the affect that people think it is. I think the trade markets are as healthy as they ever have been. I was a director of a manufacturing business which exported most of what it produced and we never discussed tariffs or trade agreements. If there was a business there, we went after it.”

ARE PEOPLE NOW TALKING ABOUT TARIFFS? David Doughty: “Politicians and the media talk about it but the reality for most businesses is that it is never discussed.

They sell around the world and deal with the agreements afterwards, with what you must pay in tax or not.”

Business Leader - The magazine for business and enterprise

Challenges for Directors:

Debate

IN ASSOCIATION WITH THE INSTITUTE OF DIRECTORS SUPPORTING BUSINESSES AND THE PEOPLE WHO RUN THEM SINCE 1903 T: 0117 370 7785 | E: iod.southwest@iod.com | www.iod.com

Mark Saxton Ballintrae Partnership Ltd

Simon Face IOD South West

“It is a lot easier to close offices here then it is in Sweden or France, for example.”

Mark Saxton

Nick Sturge:“Some of these things (such as trade tariffs) have been business as usual for a long time but suddenly they become issues, perhaps unnecessarily.

“Regarding trade with Europe, some companies are fearful of that what the new climate may mean for them and the challenge will be for early stage companies to bring expertise on board, which they don’t have.”

Simon Face:“I think whatever happens, the UK is going to become a much higher cost of economy. We are already seeing inflation coming through, food prices and in automotive goods as well. If we start seeing more tariffs and import duties, which is the likely scenario then this will have an impact.

“Businesses will have to look to where they can make money and add value – it is around innovation, it is the knowledge economy – that is the where the future of the UK is going to be. We will probably end up looking more like Switzerland or Norway.”

COULD WE END UP BEING LIKE A SINGAPORE WITHOUT THE SUN? David Doughty: “We are seeing signs of this already I think. If you look at the housing market, the house prices in London and the South East – that smacks of a high cost

David Doughty Excellencia Ltd

economy. Whether the city will survive or be able to help sustain that is another question.

“We are still one of the most attractive countries for inward investment though, mostly because it is very easy to set up a business. That is the primary factor, the taxation would be an added sweetener and there is no reason why we couldn’t have a corporation tax regime, that is more attractive than the EU.” IS THE UK AN EASY COUNTRY TO DIS-INVEST FROM? Mark Saxton: “It is a lot easier to close offices here then it is in Sweden or France, for example.

“Anecdotally we are hearing of more global businesses investing in Ireland for example, to make sure they still have access to the EU market as well as having an international, English-speaking base.

“What we are also hearing is that people working in the city can more cheaply buy a house in Ireland and fly into an airport every week than work in London and fly home at the weekend.

“We are still one of the most attractive countries for inward investment though, mostly because it is very easy to set up a business.”

Business Leader - The magazine for business and enterprise

David Doughty

Nick Sturge Engine Shed

“That is another example of the world becoming more global, whether you like it or not.”

HOW MUCH OF A THREAT WOULD JEREMY CORBYN AS PRIME MINISTER BE? Simon Face: “I don’t think most business people would see a return to the nationalisation of utilities as necessarily a good thing. It might sound attractive as an individual, if you’re voting for what appears to be a free service but at the end of the day it still must be paid for and accounted for.

“The reason why most water companies were privatised in the 80s and 90s was because they needed huge investment – they were running 100-year-old infrastructure which needed replacing.”

Nick Sturge: “Some of his policies will of course be popular but staggeringly expensive and that logic has not been articulated.”

David Doughty: “He also demonstrates a lack of understanding of the way that pensions are funded because he is talking about taxing investors as if they are private individuals but they are mostly pension funds.”

Nick Sturge: “There was one thing in the Labour manifesto that the IOD would be nationally supportive of, subject to detail, which is the idea of more worker representation at board level.

“It would be interesting to get some thoughts on that. The IOD is supportive of better engagement at board level with the workforce. There is much to be discussed because if you elect an employee to sit on the board, then they need the skills to be a company director. It is an easy sound bite for politicians but in practice it is difficult.”  Issue 19: July - September 2017

51

News

Ascot Group hosts its inaugural summer ball Weston-super-Mare headquartered media and technology company The Ascot Group recently held its summer ball at the Grand Pier.

Over 100 guests attended the event, which was held for staff who work at the company, suppliers and a selection of customer and contacts.

Guests were treated to a spectacular evening that included a gala dinner, a live show and talented musicians.

As an added twist, the doors at the Pier closed to the public to give guests exclusive access to the indoor theme park, which includes a full-size go-kart track.

The invitation-only event was hailed as a great success, with guests arriving from all over the UK, some even by helicopter.

Andrew Scott, Ascot Group Managing Director, comments: “The event doubled up as an opportunity to treat our sixty plus staff members to a spectacular evening; as well as welcome some of our key suppliers and national clients to attend the event and celebrate success and entrepreneurship.”

www.businessleader.co.uk @BLeaderNews

Coming soon...

Business Leader National Edition

Following on from the success of our ground-breaking South West Business Leader Magazine and with huge demand from the UK’s leading entrepreneurs and professionals – the new national edition will hit desks in September.

Subscribe now to receive your copy: • The UK’s first national business magazine launch in a decade • Connect your brand with the country’s top entrepreneurs and business owners • Authoritative national business news and features

To find out more or to subscribe, call 0117 325 7779 or email sales@businessleader.co.uk 52

Issue 19: July - September 2017

Business Leader - The magazine for business and enterprise

www.btc.ac.uk

ARE APPRENTICESHIP REFORMS AFFECTING YOUR BUSINESS? knowledgeable in the new reforms and how they might be affecting your business or organisation.

Matt Tudor, Director of Business Development & Marketing

One of the team’s Employer Account Managers will consult with you and help you to understand the best way of using the Levy to your advantage. The team’s combination of expert knowledge of funding and awarding body requirements, Bridgwater & academic and Taunton College is pedagogic expertise one of the largest and previously successful employer Apprenticeship partnerships, means providers in the we are extremely South West. well-placed to provide solutions for your business to ensure the new reforms are contributing to your growth and bottom line.

At Bridgwater & Taunton College we can add value to the Apprenticeship programmes delivered by us, supporting you with implementing processes in accessing the Apprenticeship Levy Ensure the new and in using the new Apprenticeship Digital Apprenticeship reforms are System (DAS). We can also work with contributing to you to develop new your growth and Apprenticeship bottom line! standards, so we are delivering Apprenticeship programmes written and owned by you and groups of employers in your sector.

To discuss anything about Apprenticeships, contact the Bridgwater & Taunton College Business Development team on 01278 655111, or email business@bridgwater.ac.uk

The Government is committed to achieving 3 million Apprenticeship starts by 2020, using the recent introduction of the Apprenticeship Levy and new standards to do so. Bridgwater & Taunton College is also committed in contributing to this goal, and can support businesses and organisations in managing the effects of the new Apprenticeship reforms.

Bridgwater & Taunton College is one of the largest Apprenticeship providers in the South West, Bridgwater & and the Business Taunton College can Development support businesses team is highly experienced in and organisations the development in managing the and delivery of effects of the new Apprenticeship Apprenticeship solutions, as well reforms. as being highly

The Business Development team are highly experienced in the development and delivery of Apprenticeship solutions.

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Ones to Watch:

Ecosurety

THE ONES TO WATCH SERIES IS SPONSORED BY GRANT THORNTON UK LLP One of the world's leading organisations of independent assurance, tax and advisory firms T: 0117 305 7600 | E: harry.walker@uk.gt.com | www.grantthornton.co.uk

I joined as employee number 7,

now I’m the Managing Director BLM met with Ecosurety Managing Director, James Piper

that this is the only place I’ve worked. I know almost everything that goes on in the business and that can be a problem.

What does Ecosurety do?

“The business is a packaging, waste electrical and battery compliance scheme. We help companies comply with environmental law. Specifically, the Producer Responsibility Regulations which were introduced in 1997.

“From going from a very small company to a medium company and being on that journey all the way through I’ve been quite involved in everything.

“We started in 2003 and we have grown rapidly since that time. I joined the company in 2009 when we had seven employees and we now have 35 employees. We have seen our turnover rise from 1 million to 15 million since 2009.

“I joined as employee number seven; as a graduate having studied Biology at Exeter and I didn’t know anything about the compliance world.

“My first big client was Wolseley in 2011/12. That was a significant moment for us. The following year we won Britvic and the year after Co-op and the year after we won Mars and Red Bull. They are all still our clients.”

Would you say that companies are becoming more aware of environmental issues?

“I think companies are more aware of the power of social media. If we take the example of ocean plastics, many of the issues have come from the fact that we export a lot of our waste. If we can spend more money in the UK looking after the UK infrastructure there is an opportunity to avoid some of those issues which have developed. People expect companies to be able to react more quickly to environmental issues.”

Are certain industries further ahead than others?

“I think retailers are because they are directly consumer facing. I also think industries that are under fire are pushing – for example the soft drinks industry with

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Issue 19: July - September 2017

“I’ve been sales manager, technical lead, IT manager and I was doing the invoicing at one point.

“It’s very difficult for me not to be involved.

Since becoming MD I’ve had to step back and restructure the company so that I’m not managing lots of people. I’ve brought in a strong board.

James Piper - MD, Ecosurety

sugar tax and ocean plastics. Also brands which have litter on the side of the road are the ones who want to put themselves forward for a solution.

“One of my strong beliefs is that we spend too much time blaming the brands. That Coke bottle on the side of the road didn’t get there because Coke put it there – the consumer put it there. My view is that we should be spending a lot more money on educating consumers and improving the infrastructure to make it next to impossible to leave it on the roadside or on the beach.

On the go recycling needs to get better.

“I’ve spoken with several councils who struggle with on the go recycling. I’m a big fan of the Simon Sinek golden circle model.

We start with Why on everything. We need to spend more time on talking about why we recycle. If the council makes a million pounds on recycling and that money goes back into social care my view is that’s something the public will grasp.”

How is your role developing as the business grows?

“I would say that I’m an unusual MD in

“I do believe I’m better when I am out meeting clients and developing strategy. I think that’s where I’m better.

“I know I can’t do everything. As the business gets bigger there is more risk if it all sits with me. Therefore, since I’ve become MD we’ve put in some really great people. We used to do graduate recruitment with four new graduates joining us each year. The first wave of graduate recruits are now managers.”

What’s next for the business?

“We want to double the size of the business by 2020 in terms of revenue and profit. We are moving more into how we can improve the recycling space and how we can bring innovation through. For example, things you can’t recycle such as coffee cups. How do we ensure that money is going into developing recycling solutions? Bringing about transparency in the evidence market will help us achieve that.

“By focussing on the FTSE 350 in particular we’re interested in the level of impact we can have.”

Business Leader - The magazine for business and enterprise

Independent Business:

Comment

GOVERNMENT ADOPTS NEGATIVE OGDEN RATE Ryan Legge

I

n a well-publicised move earlier this year, Lord Chancellor Elizabeth Truss announced a new Ogden Rate for personal injury awards. Also called a Discount Rate, it’s been slashed from 2.5% to -0.75%. Unsurprisingly, the news was pleasantly greeted by personal injury victims and advocates, yet strongly condemned by the insurance industry.

The Ogden Rate In personal injury cases, courts and insurance providers use the Ogden Rate to determine the present value of the compensation that needs to be paid to an injured individual (claimant). The Ogden Rate works on the basis that the party providing the personal injury award can discount the sum provided to the claimant by a small amount because the claimant will be able to make up the difference between the actual award and the sum provided, by investing the sum over long and low-risk schemes.

For example, a claimant entitled to a £1,000 claim with a 2.5% Ogden Rate would receive a £975 sum because he or she is expected to be able to earn 2.5% interest a year on the sum. To help calculate claimants’ pay outs, insurers apply a ‘multiplier’, which takes into account age, gender and mortality risks in order to determine claimants’ financial needs over their likely lifetimes.

The Lord Chancellor’s decision The decision is controversial because it effectively requires any party paying a claim to increase rather than discount the sum that is provided to the claimant.

The Lord Chancellor concluded that an accurate Ogden Rate must represent the current conditions of long-term investment markets. Noting that the last Ogden Rate calculation dated back to 2001, the Lord Chancellor determined that a rate of -0.75% represents an accurate rate for the current market.

Contrasting reactions to the decision Personal injury advocates welcomed this announcement stating that a new rate was long overdue and that it does a better job at providing financial compensation to individuals who now face long-term, if not permanent, restrictions on their ability to provide for themselves.

businesses, including 36 million individual and commercial motor policies.

Coupled with the recent increases in Insurance Premium Tax (from 6% to 12%), these are tough times for the insurance market, as insurers and brokers try to justify premium increases whilst recommending higher liability limits to cater for the increasing court awards.

At Hayes Parsons Insurance Brokers, we work with a vast range of businesses to understand their insurable risks, mitigate the potential of future claims and arrange competitive yet suitable cover.

If you have any queries about how the Ogden Rate could affect your or your business please feel free to get in touch with Ryan on 0117 929 9381 or r.legge@hayesparsons.co.uk.

Insurers sharply criticised the decision by stating that it has arbitrarily increased the sums they must provide to personal injury victims and will result in millions of pounds of lost profits. Insurers are expected to file an appeal to reverse this decision.

Future of the insurance market The Association of British Insurers called the decision ‘crazy’, and estimated that it will directly increase motor and liability premiums for millions of UK drivers and

Business Leader - The magazine for business and enterprise

0117 929 9381 enquiries@hayesparsons.co.uk

www.hayesparsons.co.uk Issue 19: July - September 2017

55

Exhibition Feature:

Advertorial

How to write a stand brief that delivers results

By Paul Runacres, Clip Exhibition & Display

O

nce you have decided that you want to attend an exhibition, you need to write an effective stand brief. This can be the difference between having a reasonable show and having a great one.

Follow these simple steps to ensure you write an exhibition stand brief that delivers great Return on Investment (ROI).

1: Know exactly why you’re going to the exhibition You need to make sure that the stand design is completely aligned with your event objectives. If your objective from the event is to collect new data and grow your database then you need your stand to be designed accordingly. It needs to be open and inviting but also the flow needs to be considered so visitors can be questioned, give their data and then be moved off the stand as professionally and quickly as possible so there’s room for the next visitor. The reason for attending the exhibition will underpin every aspect of the design. If you get this right and make sure everything is aligned then you will create great results and ROI from the exhibition.

2: Understand your stand voice You need to make sure you are completely clear on the stand “voice” that you want to be delivered. Every aspect of your stand gives out a message, from the style of furniture and refreshments you offer to the way that you collect leads and the clothing your staff wear. You need to make sure that all of these factors are in line with your stand voice to deliver maximum impact at your show. Consider the following; Give thought amongst your team, to which 3 individual words you would want everyone to associate with your Company brand. These words need to be the basis of your stand “voice”. It is vital that you know these and that any company that is going to design a stand for you knows these. Your stand needs to reinforce these values on every level. For example if a company was trying to say “prestige, heritage and quality” then regardless of the features needed on the stand, the tone and stand “voice” needs

56

Issue 19: July - September 2017

to echo these values. The furniture might be leather arm chairs, refreshments would be cups of tea served in china cups and saucers, or coffee served by a professional barista and the staff should be wearing business suits. By the same token, if your company’s brand values are “dynamic, young and fun” then the staff might be wearing bright coloured polo shirts, shorts and even flip flops. Refreshments might be smoothies and stand furniture would be more appropriately bean bags.

If you can match every element of your stand with the values that you are trying to deliver then the stand will be much more effective and deliver much greater ROI. 3: Everything must have its place Once you are clear on why you’re attending the exhibition and what your stand “voice” needs to say about you, you can look at the detail on the stand. Write a list of every physical thing you feel you need on the stand, from a plasma screen to a reception desk and storage areas to furniture. Now that you have that list go back and make sure every item fits in with your reason for going to the exhibition and your stand “voice”. If it doesn’t meet your reason for going or your stand “voice” then put a line through it. It is amazing how many people

have features on their stand for no real reason or worse still features that are in complete contradiction to what they are trying to achieve. On an effective and results focused exhibition stand, every feature is there for a very specific reason. It’s not a time or a place for “nice to haves”.

So, that’s how to write a successful brief that will deliver results: 1. Be clear on why you’re attending the show and ensure everything about your stand ties in to those reasons.

2. Decide on your stand voice. What does every aspect of the stand need to say about your company.

3. Only request features on your stand that meet your reasons for attending and tie in with your stand “voice”.

For more information on the wide range of products and services we offer, please call us today on 0800 834 298.

www.clipdisplay.com enquiries@clipdisplay.com

Business Leader - The magazine for business and enterprise

Extending Jordans services to Asia Jordans (Hong Kong) Limited Gateway to Asia

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• Corporate compliance and governance • Directors’ training • Shareholder agreements • Mergers, acquisitions and disposals • Group re-organisations including capital reductions and demergers To find out more about how we can help, contact: Debbie Farman on 0117 918 1221 Email: DFarman@jordanscorporatelaw.com Or Simon Bates on 0117 918 1210 Email: SBates@jordanscorporatelaw.com Authorised and regulated by the Solicitors Regulation Authority. No. 605152

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