Book Your Place at next month’s Leadership Conference – see pages 6 & 7 LAWScullion Introducing our new legal partners - great legal advice plus free consultations for readers (subject to availability) Profiling New BWC members Jennifer McKenna of Concept Financial Services, Michelle Beaumont from Beaumont Legal Recruitment and Karen Dodds of TEMPLESPA 2022/2023Events Read all about our fantastic events for 2022/23 – full details on page 2Issue 3 | Sept 2022 www.bwcedinburgh.co.uk
PROGRAMME FOR GROWTH – AUG 30,31 & SEPT 1ST TEA & BUSINESS CHAT - 5TH SEPT BWS AWARDS: CLOSING DATE FOR COMPLETED ENTRY FORMS - 5TH SEPT (5PM): FIRST ROUND OF JUDGING - 15TH SEPT FINAL JUDGING - 22ND SEPT SHORTLIST ANNOUNCED - 23RD SEPT BUSINESS LAUNCH PROGRAMME – 21 SEPT THE 8:45 BUSINESS CONNECTIONS - 28TH SEPT TEA & BUSINESS CHAT - 1ST FEB PROGRAMME FOR GROWTH – 7-9TH FEB BUSINESS LAUNCH PROGRAMME – 21ST-22ND FEB CORPORATE LUNCH – 23RD FEB THE 8:45 BUSINESS CONNECTIONS - 22ND FEB TEA & BUSINESS CHAT - 1ST MAR BUSINESS ROADSHOW - 16TH MAR THE 8:45 BUSINESS CONNECTIONS -29TH MAR TEA & BUSINESS CHAT - 2ND NOV STARTING A BUSINESS OPENS: 7TH – 11TH NOV (week only) AWARDS PRESENTED AT BWS BUSINESS AWARDS LUNCH CEREMONY FRIDAY 18TH NOVEMBER BLACK FRIDAY & CHRISTMAS GIFT GUIDE - 25TH NOV THE 8:45 BUSINESS CONNECTIONS - 30TH NOV TEA & BUSINESS CHAT - 7TH DEC THE 8:45 BUSINESS CONNECTIONS - 25TH JAN TEA & BUSINESS CHAT - 5TH OCT 4TH OCTOBER BWS LEADERSHIP CONFERENCE. SPONSORED BY MENTORING MATCH – OPENS 3RD - CLOSES 14TH OCT BWS AWARDS EARLY BIRD TICKET OFFER CLOSES - 14TH OCTOBER THE 8:45 BUSINESS CONNECTIONS - 26TH OCT CORPORATE LUNCH WITH INVITED SPEAKER – 27TH OCT 22/23 EVENTS Scan for more events information
events
maggi@bwsltd.co.ukManagingMaggiBWCbw_connectionEdinburghwww.bwcedinburgh.co.ukKay@bwcedinburgh.co.ukedit@bwcedinburgh.co.uk-EdinburghMeehanEditor delighted to be back with our September edition and hope you all enjoyed a great summer! I’m very pleased to welcome our new legal partners, Scullion LAW, who will advise and inform us each month on a variety of important topics. Meet the team on pages 12 and 13 where you’ll also find out everything you need to know about Minutes of Agreement. Have you entered our Awards this year? You have until 5pm on September 5 to get your entry in at https://www.bwsltd.co.uk/awards and remember to book your tickets to our glittering Awards event on November 18 here: https://www.bwsltd.co.uk/shop
We’re
We’re all looking forward to our inaugural Leadership Conference which will take place on October 4 at Glasgow’s House for an Art Lover. Sponsored by Selaura, this exciting event will give you the chance to hear from some of the business world’s leading ladies who will share their experiences and insights into how they made it to the top and what you can do to become a future leader. If you haven’t yet booked your place, make sure you do so soon as tickets are limited and you won’t want to miss out! Read all about it on pages 6 and 7. Our next 8:45am Business Connections event will take place on September 28 and we look forward to seeing you for a great morning of networking. The venue for this month’s meeting is Luckenbooths, 329 High Street, The Royal Mile, Edinburgh. We’re also featuring BWC Edinburgh members, Jennifer McKenna of Concept Financial Services, Michelle Beaumont of Beaumont Associates and Karen Dodds of TEMPLESPA in this month’s edition. If you would like to appear in a future edition of the magazine, please don’t hesitate to get in touch with me at kay@bwcedinburgh.co.uk to discuss ideas.
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Kay EditorAnderson–BWCEdinburgh magazine for more information
• We’ll lose home ownership – you remain 100% the legal owner of the property and benefit from the increase in property value.
SHAPE
Financial Services to find out more
FINANCESYOURWITHWecaughtupwithJenniferMcKennaofConcept
Fact or Fiction
Clients may already have a lifetime mortgage – and, like a conventional mortgage, this should be reviewed on a regular basis –and they may be able to save on their current interest rate.
• Interest rates are very high – yes, they tend to be generally higher than traditional mortgages, rates are available for under 4%, so you may be pleasantly surprised.
“CFS Equity Release is passionate about later life finance and ensuring our clients have the best advice to ensure they enjoy their retirement and have the access to the funds they need to fulfil their aspirations now and in the future.”
• Interest rolls up so quickly, there won’t be any inheritance left – with interest rates being as low as they are it would take about 20 years for the loan to double in size. You can select inheritance protection if you want complete certainty over inheritance amounts.
• You’ll end up owing more than your home is worth – all products come with a ‘No negative equity guarantee’, meaning whatever happens when your home is sold, it is guaranteed that you will never pass on a debt to your estate.
As we live longer, healthier lives, attitudes have changed - our parents probably never had bucket lists and girlie weekends didn’t exist…why should these things stop when you retire? You may have sacrificed your pension contributions whilst working to pay a mortgage and provide a roof over your family’s heads, so look on your home as an extension of your pension and use this tax free cash for your retirement.
• It’s only to be used if desperate – lifetime mortgages are becoming increasingly popular as part of retirement planning. Pensions might be getting stretched with high inflation or you may want to assist loved ones. Many ‘high net worth’ clients are using a lifetime mortgage instead of dipping into investments or pension pots to avoid taxation and to reduce potential inheritance tax. See how much your home is worth with our instant online valuation, then use our calculator to estimate how much equity could be released.
There are still a lot of misconceptions and myths that surround equity release - below are some of the common ones:
Many over 55s find themselves with Interest Only mortgages and no way of repaying these – the old endowment policies failed to provide the returns once projected 25 years ago. A lifetime mortgage could be the solution. With the option of no contractual monthly payments, it could keep outgoings in retirement to a Propertyminimum.does have to be of standard construction and not have flooded or be subject to subsidence or heave. Close proximity to commercial premises may impact the lending. With Jennifer’s local expertise she can gain a fast decision from the lender on property criteria.
McKenna CeMAP CeRER Jennifer McKenna - Concept Financial MobileJennifer.mckenna@cfsequityrelease.co.ukServices07946723924 What could you use it for? Pay off an existing mortgage or fund a new HolidayNewHomeGiftpropertytofamilyimprovementscarormotorhomeofalifetime Key Details Age PropertyMain55+residencevalue +£75k Release between 25-55% of the value of the property
CFS can also deal with your Residential Purchases, Remortgages, Buy To Let and Offset mortgages and they have specialist advisers to deal with pensions, investments and commercial lending.
Jennifer comments: “Being the only female on the Board, the guys would only think of what guys wanted and when I suggested a ladies’ day – after a few sharp intakes of breath – it was added to the events calendar and now, many years later, it’s the most looked forward to event of the season. This
Referring your later life clients to Concept Financial Services is quick and simple – let CFS take care of the compliance. A quick chat with Jennifer and you’ll be up and running. They even provide marketing support to help grow your business. CFS never cross sell – your clients remain your clients and they never bombard them with unwanted emails. Your clients will need to take legal advice before releasing equity from their home. Lifetime mortgages and home reversion plans are not right for everyone.
really helped me understand why, in a large corporate organisation, targets were set to have a diverse senior management team in place, as I had seen it at first hand. Volunteering is not only rewarding but helps you grow as a person and you can transfer/adapt these skills in your business.”Jennifer
Charity Trustee When Jennifer is not helping clients, you will find her at Falkirk Rugby Club where she is a Trustee and Treasurer of the registered charity. Jennifer has volunteered for many years after her 2 sons started playing at primary school. Back in 2013 Jennifer identified a missed opportunity when many employers provided matched funding for any fundraising activities for charities, but sadly not clubs. This prompted the club to apply for charity status.
JOIN US AT THE BWS CONFERENCE
SPONSORED BY There’s still time to sign up for our Leadership conference on October 4! We would love you to join us for this very special day of empowering women at the beautiful House for an Art Lover in Glasgow. We have invited women from different sectors to participate. The event will be hosted by Rachel McTavish, who will interview and explore topics with each CEO and leader about their careers, leadership styles and business experiences. We will examine what makes a modern leader and how they manage today’s challenges.
LOGANAIR
LEADERSHIP CONFERENCE
LEADERSHIP
We have a wide variety of amazing speakers taking part including: DR JILLIAN FOUNDER OF THE SOCIAL INTELLIGENCE LAB KAY RYAN CHIEF COMMERCIAL OFFICER OF DR LALITH WIJEDORU JENIFER SASSARINI
FOUNDER OF BEHIND YOUR MASK DR
Leadership success is focused on ensuring we help women shape the world of work in a positive and impactful way. The aim of the day is to help women who want to move into a leadership role or those who are already in senior positions seeking advancement in their careers.
CONSULTANT GYNAECOLOGIST AND OBSTETRICIAN AT NHS GREATER GLASGOW AND CLYDE & HONORARY SENIOR CLINICAL LECTURER AT THE UNIVERSITY OF GLASGOW ANNE BODEN CEO, STARLING BANK There will be opportunities for networking and talking to our guests throughout the day. Leadership Conference Agenda: 09:00 - 09:30 WELCOME COFFEE 09:45 - 11:00 GUEST SPEAKERS 11:00 - 11:15 BREAK 11:15 - 12:30 GUEST WORKSHOPLEADERSHIPSPEAKER/ 12:35 - 13:35 LUNCH 13:45 - 15.15 GUEST SPEAKERS
After more than two years without real networking, we would like to connect with businesswomen who have made an impact on the business community and who are also leading the next generation of women in business.
The event provides leaders with a great opportunity to exchange views and ideas, allowing them to discuss tomorrow’s challenges as well as how to leverage current business opportunities.
Selaura’s ingredients support sleep, boost energy and stamina, reduce stress and anxiety, balance hormones, boost immunity, alleviate brain fog, promote joint and muscle health, support hair, skin and nail growth and reduce digestive issues. Free from wheat, dairy, soy, fish, artificial sweeteners and preservatives. No gluten containing ingredients. No fillers or bulking agents. Suitable for vegans. Manufactured in the UK. Visit www.selaura.com for more details.
Registration & Prices: There are limited tickets available for the Leadership Conference, priced at just £60 + VAT for BWS and BWC Edinburgh members and only £70 + VAT for non-members. Don’t delay - book your place today
www.bwsltd.co.uk/shop/p/leadership-ticketat: Our conference is sponsored by Selaura, the premium supplement for perimenopause, menopause and beyond. The ethos behind the company founded by Morven Shaw and Debbie Wheeler is that this phase of your life should be celebrated and enjoyed. That’s why they developed the Selaura proprietary formula which contains 12 premium, clinically-proven ingredients, all at optimal daily doses. Selaura was developed by women, working with some of the world’s leading nutraceutical companies, to be the best in class, single solution supplement to support the 48 symptoms of perimenopause/menopause.
IT UP Anne Ferguson is a director of Glasgow-based celebrity stylist Taylor Ferguson Hairdressing. Here Anne examines why hairstyle changes can potentially generate positive benefits…
ON TREND Change is everywhere…and nowhere more obvious than in our world of haircare. We’re not sure if it’s linked to the pandemic, to those restrictive lockdown days, to that ever-pervasive feeling of general uncertainty or what, but we’re seeing more and more clients who are seeking one thing and one thing alone. They want a big change. That’s their choice of words – big change. We love the phrase because as creative professionals we’re happy to use our experience and expertise to deliver exactly that for the client. We regularly receive emails from new clients who are in pursuit of change. They do give reasons. They feel they’re in a rut. They are bored of their usual style or colour. They don’t want the ‘same-old, same-old’ routine cut and want something different. Naturally, we’re always keen to welcome new clients but there’s an additional frisson when that client is up for the big change!
ANNE FERGUSON CHANGE
BOOSTS CONFIDENCE Without question, the new clients we’ve seen seeking that big change have left with a spring in their step. Their confidence has been boosted with their hairstyle change making them feel like an entirely new person. Whether that change makes them look younger – and yes, we’re strong believers that a big change to hairstyles can deliver that effect – or feel more confident, then it’s job done from our perspective.
BIG CHANGEextensions boosting volume BIG CHANGEcolour, condition and cut BIG CHANGEcolour and cut transformation
WHY CHANGE YOUR STYLE?
Our crowning glory is the one accessory we can’t take off and throw into the back of the wardrobe. Our hair is with us day in, day out and so it’s important for us to be happy with how it looks. Yes, it will grow each week but if it’s well cut –and the colour works for us - then we’ll remain happy. Or so we should. That’s why getting your style right is important because it’s something we live with on a daily basis, and we all prefer good-hair days to bad ones! That change should be discussed in advance. You should set out your hair aspiration. Your stylist should add in their advice and professional opinion on how the big change can be delivered. It’s a team decision between you and your stylist. Always be prepared to listen to the hair experts. They’ve got your best hair interests at heart!
AGE IS MORE THAN A NUMBER
Some sectors of our profession say you shouldn’t keep the same hairstyle longer than three years or so. We disagree. Who says there are rules? We have clients who seek change on each appointment. Again, nothing should be set in stone. It’s about how you feel and what you want to achieve with your hair. What we do know is that we can all fall into a rut with our hair. If the style we’ve picked works, then we’re more likely to stick with it but by changing hair tones or introducing some layers or changing a fringe style then we can get that extra boost from the new image. It all contributes to that big change experience.
A couple of new clients who’ve visited us said they were told they’d started to look like their mums. We all love our mums, but do we want to be their hair-twin? Probably not. A new hair look – whether by cut, colour or even some real-hair extensions – can generate a younger and fresher look. Changing that hair look can transform you into a new person. We see the results day in and day out. Clients tell us they look up to 15 or 20 years younger when our work is done. Their words! We’re just happy they’re happy.
Cutting, colouring and adding more hair with extensions can introduce big changes to your overall look. One other very important element of change which is often overlooked or even misunderstood is conditioning. So often we welcome new clients who are unhappy with their hair’s condition. Too dry, too frizzy, too limp, too greasy. We hear these and many more condition gripes. These can be turned around - intensive in-salon conditioning treatments are literally akin to hair boosting prescriptions. We tailor the ‘recipe’ to deliver the individual’s requirement. That big change alone can work wonders – and last for weeks. It’s all about delivering more TLC to our crowning glory. Do that alone, and you’ll see a big change! BIG CHANGEcolour and extensions
CHANGE BEATS NO CHANGE
KISS GOODBYE TO BAD HAIR DAYS
We’ll put up with a lot in our lives. But bad hair days can make or break our day. How often have you spent hours in front of the mirror agonising over what to do with your hair and finally opting for a ponytail? Whether it’s for business reasons, for party time, a special event or just for you, then the right time for making that change is now.
THE TOOLS OF CHANGE
Recruiting new staff on more generous remuneration than existing employees can foster resentment, so creating more attractive overall packages with flexible working, or providing perks which can be easily revisited, may be more helpful. Managing expectations around unsustainable pay increases if the economy worsens further is a fundamental concern.
Small businesses trying to cope with 9%-10% inflation face a difficult balancing act. For many there is a stark choice between potentially alienating customers by increasing prices too sharply or absorbing increased costs and risking their own survival.
Higher prices, especially for energy and fuel, mean consumers will focus on essentials, with less cash to spend elsewhere. This creates uncertainty for retailers.
Costs should obviously be minimised as far as possible and feeding in any possible reductions to the cashflow forecast will show their impact over the longer term.
Reviewing purchasing patterns, for example, could bring cost Businessessavings.arenot protected by the energy price cap, so it is important to focus on energy usage. Even something as simple as replacing inefficient light bulbs with more modern alternatives could make a Staffingdifference.costs are also likely to be on the increase and generally represent a large proportion of a business’s outgoings. Although a checkout-free store is not an
For instance, if you operate a retail business, should you stock up now for Christmas - taking advantage of lower prices - despite the risk that Christmas spending could be
Any business looking to replace staff or to expand will also almost certainly be facing increased wage demands.
For now and the foreseeable future, forward planning is about building resilience and managing costs. If you need additional guidance as you weather the storm, please get in touch on info@ammu.uk or call 01292 388 031. Staff shortages and higher borrowing costs are also leaving many businesses concerned about the longterm impact of such a challenging trading environment.
Althoughcurtailed?theChancellor announced a £15 billion package of support for households, many will only see a one-off £400 energy bill discount, and then not until this autumn. Even if the last two years have been safely negotiated, you will probably not yet have rebuilt your cash reserves. Maintaining a regularly updated cash flow forecast looking up to a year ahead will help to identify any cash shortfall well in advance. It may be tempting to sell stock at what it has cost you, rather than what it is going to cost to replace. All well and good if it keeps cash coming in, but an accurate cash flow forecast will give you an idea of how long such an approach is sustainable.
The current economic situation has brought a level of risk and volatility that many businesses have never faced before. Even with the best intentions, a cashflow forecast is almost certainly not going to be anywhere near 100% Thisaccurate.doesn’t mean the exercise is futile, especially if you use a ‘what if’ approach in your contingency planning. Scenarios such as “What if my raw material cost rises 10% more than expected?”, or “What if an important customer pays a month later than usual?” are useful tools in interrogating your position.
option for most, technology might be a solution. There’s a range of EPOS applications available and digital solutions that may provide you with alternatives to keep the cost of servicing your customers at a manageable level.
MANAGING YOUR BUSINESS THROUGH A PERIOD OF HIGH INFLATION
HMRC’s late payment interest rate has gone up by another quarter percent, and now stands at 3.75%. Late payment interest encourages prompt payment, ensuring fairness for those paying on time. The rate for overpayments remains at 0.5%. NIC Covid-19 rules end HMRC has disregarded changes to an individual’s work location caused by Covid-related restrictions when deciding whether NICs are payable in the UK. This approach ended on 30 June, and NICs will now generally be paid according to where a person works.
Companies House is also to be extensively reformed and one key change will see all smaller companies filing a profit and loss account. There are some 4.4 million active companies registered with Companies House, and the vast majority of these are micro-entities or small companies. Businesses in these two categories do not have to file a profit and loss account, and the information provided by a micro-entity can be as little as just three figures: total fixed assets, current assets and current liabilities. Filing a profit and loss account will mean sensitive commercial information is readily available to a company’s competitors. Employees, customers, family members and any other interested parties will also be able to see how profitable a company is. In addition, small companies will lose the option of preparing abridged accounts, so a full balance sheet will be required and small companies will have to file a directors’ report. No dates yet for implementation but when I hear more I will let you know.
Just in case you missed…some recent announcements
Advisory fuel rates from 1 June show across the board increases, particularly for petrol and diesel where all but one rate has gone up 2p or 3p. LPG rates are 1p higher, with the fully electric car rate unchanged at 4p.
MTD for income tax and sole traders: One in five sole traders is unaware of the impact Making Tax Digital (MTD) for income tax will have on them, according to a recent report. From April 2024 quarterly reporting requirements will become mandatory for any sole trader earning more than £10,000 each year from self-employment or property. If this applies to you and you are not sure what you need to do to get ready, please get in touch.
Click here to read Nicola’s most recent reviews Connect with Nicola on Linkedin by clicking here
Any separation from a partner or spouse is a difficult time. Even amicable separations can be challenging with so many things to think about including finances and living and care arrangements for the kids.
THE BENEFITS OF ENTERING INTO A MINUTE OF AGREEMENT UPON SEPARATION
Judith Higson is Head of Department and Executive Director. Click here to read Judith’s most recent reviews Connect with Judith on Linkedin by clicking here
ASK OUR NEW LEGAL EXPERTS
We are delighted to welcome our new legal partners, Scullion LAW, as our regular contributors on a variety of legal subjects.
family law team were awarded the prestigious award of Family Law Team of the Year 2021 winners by SME News Scottish Enterprise and recently were absolutely delighted to have been selected again for the second time in two years as a finalist for Family Law Team of the Year in the Scottish Legal Awards for 2022. Also ranked #1 in Glasgow for Family Law (as voted for by happy clients on reviewsolicitor.co.uk). In addition to this, they are a Legal 500 UK recognised firm.
Click here to read Sam’s most recent reviews
It’s important to get independent legal advice as soon as possible, even before you separate if you can, to make an informed decision about how you want to move forward. Quite often we find that when clients initially come to see us and get legal advice they are emotionally overwhelmed and not in the right space mentally to proceed. They need time to process a separation and to consider what to do as there is simply too much going on. What they do gain from speaking to us is information about all the options open to them and formulation of a plan to assist them in moving forward. Additionally, we have built up a network of trusted professionals ranging from mental health counsellors to divorce coaches who are available to provide real practical support to our clients at this time or indeed at any time to allow them to consider and prioritise
Scullion LAW are a medium sized, multi award winning, boutique firm specialising in four key areas: Family Law, Criminal/ Road Traffic Law, Property Law and Wills, Estates and Future Planning. Their hard work, passion and focus mean they always put their clients’ interests Theirfirst.
Nicola Buchanan is Senior Associate Director
Both Judith and Nicola are Accredited Family Law Specialists, Accredited Mediators and Collaboratively Trained Solicitors. Judith is also an Accredited Child Law Specialist. They have both been practising solicitors for over 20 years and have substantial experience of all aspects of family law and they are ably assisted by both Laura and Samantha. You can get a FREE 20mins appointment with Judith or Nicola, subject to availability. Get in touch via info@scullionlaw. com or on 0141 374 2121 or visit www.scullionlaw.com
Click here to read Laura’s most recent reviews Connect with Laura on Linkedin by clicking here
Everymatters.case is unique and that is why our service is bespoke. We work closely with our clients and take everyone as they are. Care is one of our core values. We are there throughout to guide and support clients before, during and after separation. Our aim is to get you the best possible outcome and to give you peace of mind.
Samantha Robertson is Accredited Paralegal
Laura Cousins is Assistant Solicitor
For married couples, a Minute of Agreement usually ensures a smooth path to a divorce without the need for the expense and uncertainty of a court action.
It is a unique agreement for each couple and can cover one item or many including, but not restricted to, the
• contents of a property, other assets and liabilities, savings and pensions.
• maintenance monies for a spouse and/or children;
The content of this article is for information only and is not intended to be construed as legal advice and should not be treated as a substitute for specific advice. Scullion LAW accepts no responsibility for the content of any third party website to which this article refers.
Once registered it creates a binding legal document which can be enforced if necessary through the courts.
Which option you choose depends upon your needs and circumstances and will be explored to ascertain the best fit for you. The aim however is always the same – to reach agreement. So what is a Minute of Agreement?
Once clients are ready to proceed then we deal with matters on a practical basis. If possible, it is always preferable to agree matters. In Scotland, couples who are separating are encouraged to negotiate and reach agreement on important matters without the need for the court to be involved. Ideally that is the best solution in terms of keeping control, speed, legal costs and client satisfaction.
• Or you both attend mediation to allow you the space to resolve any and all matters. That can be either through a CALM mediator, who is a Law Society accredited family law solicitor or through family mediation.
• care arrangements for children;
• payment of school fees and extra-curricular activities;
It is not uncommon for a party who wishes to preserve money or property given as a gift or inheritance or a party who has contributed a significant sum of money to the purchase of a property and intends to cohabit there with a partner to enter into a Minute of Agreement to regulate, protect and provide clarity should the relationship end. This is essentially an exercise in risk management, providing certainty for those who are bringing substantial wealth or assets to a relationship.
• Alternatively, there can be negotiation or agreement through solicitors instructed by both parties. This can be by direct correspondence through solicitors or, if your solicitor is a collaboratively trained solicitor, through meetings with them and the other party;
We can prepare an Interim Minute of Agreement which commonly is for the sale of a property or a full and final Minute of Agreement detailing everything, or both. If you are separated then you will need a Minute of Agreement signed so you can sell any property upon which the other party has a claim. Usually one solicitor is instructed to prepare the Minute of Agreement and it is either sent to the other party or their solicitor to confirm they agree with it or to suggest any revisals. The other party does not require legal advice before signing. Once the parties agree, the original needs to be signed by both so as solicitors we need to consider practical arrangements for signing.
•following:thetransfer or sale of a property;
When is best to enter into a Minute of WellAgreement?reallyatany time during or after a relationship has ended. In our experience, the vast majority of Minutes of Agreement are prepared once a relationship has ended.
There are various ways in which agreement can be •achieved:Directdiscussions with the ex-partner or spouse;
Essentially it is a contract. A party must have capacity and be of requisite legal age to enter into a Minute of Agreement. It has important legal consequences so we would always advise you to seek legal advice.
Research by The Gender Index found that women-led firms in the UK disproportionately attract less investment than those led by men, despite the fact that women are starting more companies than ever before.
Research by independent asset manager BOOST&Co has revealed that over a third of SMEs in Scotland believe that debt funding is more widely available to male-owned businesses.
Although debt funding is available to all eligible businesses, regardless of the gender of the owner, there is still a prevalent gender funding gap in the UK whereby women are likely to encounter more obstacles when trying to obtain funding.
GENDER MATTERS
Further research found that male-owned businesses receive seven times more funding than those owned by women which shows that, although progress has been made, better support is needed for female business leaders on their funding journey.
Additionally, nearly half (46%) of business leaders believe that debt funding is more widely available to businesses that have been established for longer. Although this may have traditionally been the case, with historical performance being used to assess a firm’s eligibility for funding, alternative lenders take a more holistic approach that can provide businesses at an earlier stage with the support they Commentingneed. on these findings, Joanna Scott, Managing Director of BOOST&Co, says:
Of those surveyed for the Geared for Growth report, 34.6% of Scottish business leaders agreed with the statement that debt funding is more widely available to businesses owned by men. This view was also particularly prevalent in London and the South East.
“More support is needed for female and ethnic minority founders to change the perception that funding is less widely available to these groups. We must work to identify and remove the barriers to applying for and receiving funding and look at why some female-owned businesses may be more reluctant to pursue debt funding as an option.
The Geared for Growth report, which surveyed 500 business leaders across the UK, also revealed a number of misconceptions around access to funding, with over a third (34.6%) of Scottish businesses holding the incorrect view that if a traditional bank rejects a debt funding application, it is unlikely that any other lender will accept it.
“In today’s funding landscape, the opportunities for businesses seeking funding support are ever increasing, regardless of how long they have been established and how profitable they may be. Despite this, more needs to be done to reduce the gender funding gap and convey the message that funding is a journey for businesses of all different shapes and sizes.”
“The research highlights a number of misconceptions around the debt funding process and eligibility criteria. It is therefore clear that more needs to be done to improve understanding in this area and relay the fact that debt funding is much more accessible than many businesses believe it to be.
Russell Borthwick Chief Executive, Aberdeen & Grampian Chamber of Commerce commented: “By 2030 a fifth of Scotland’s population will be of retirement age and by 2050 this will be one quarter. Our nation’s overall population growth since 1970 is only 5%, well behind peer nations. As we attempt to recover from the pandemic and grapple with the impact of geopolitical events, these worrying statistics, together with the results of this survey, confirm that labour and skills shortages are worsening, acting as a dangerous drag on economic recovery and growth.
SCOTTISH SHORTAGESSKILLS
“The need for employers to take a long-term strategic approach to addressing the skills gaps is more important than ever. These recruitment challenges place a focus on growing talent from within the organisation as well as attracting new staff.
“Through The Open University’s work with employees and organisations across Scotland, we’re seeing how targeted skills training can make a huge difference providing new opportunities for individuals and supporting growth for businesses.”
The report is an annual temperature check on the UK’s business landscape across a multitude of different UK nations, regions and sectors.
“Workforce and skills planning has never been more important and it’s vital that policy makers, employers, our education system and training providers work meaningfully together to ensure our businesses have access to the people and skills needed to achieve our economic potential.”
“Critically, staff in Scotland seem to be under more pressure than staff elsewhere in the UK. More employers say this year that the skills shortage is increasing their teams’ workloads and wellbeing.
responders in Scotland agreed that their organisation is currently facing skills shortages, up from 62% in the 2021 Business Barometer report.
• Around 62% of organisations in Scotland have implemented some form of written plan around recruitment, training, addressing skills shortages, environmental, social, and governance (ESG), or diversity and inclusion.
David Allen, Senior Partnerships Manager, The Open University in Scotland commented: “Our Business Barometer report highlights more Scottish companies are struggling to recruit the right people with the right skills. This is up 8% to 70% this year.
The Open University’s annual report provides a temperature check on the skills landscape. Over two thirds (70%) of Scottish organisations are experiencing the knock-on effect of ongoing skills shortages and recruitment challenges. It also highlights the effect the skills shortage is having on staff morale and wellbeing, with 84% of Scottish organisations saying the impact increases workload on other staff.
To read the annual Business Barometer report visit barometer-2022-17062022https://www.open.ac.uk/business/business-
As a result, more than half (53%) of organisations surveyed expect to increase their investment in staff training over the next year, showing that Scottish organisations are currently motivated to tackle recruitment challenges.Organisations also reported they were feeling the full impact of complex socio-economic issues such as Covid-19, Brexit, the war in Ukraine and rising business costs, which are all feeding into the skills Partneringshortage.
with the British Chambers of Commerce for the first time, The Open University’s 2022 Business Barometer report, was conducted by the British Chambers of Commerce, surveying 1300 employers.
• 84% of Scottish organisations say the impact of skills shortages is causing increased workload on other staff, while 77% are seeing reduced output, profitability, or growth, according to new data from The Open University’s Business Barometer 2022 published in partnership with the British Chambers of •Commerce.70%ofsurvey
Wednesday 28th September 2022 | 8:45am-11:00am Luckenbooths, 329 High Street, The Royal Mile, Edinburgh 8:45am BWC Edinburgh Business Connections Morning networking before work Kay@bwcedinburgh.co.uk BWC Edinburgh is the place to grow your business community. Making business connections on the last Wednesday of each month. It’s a great way to form relationships with local organisations and business owners. The 8:45 BWC Business Connections may be a good match for you. Black DoesChristmasFridayGiftGuideyourbusinesshaveaspecialBlack Friday or Christmas deal to shout about? We’re teaming up with some amazing businesses to bring our members and followers the ultimate Business Women Connections Edinburgh deals to celebrate the festive season. All of our featured products will be special offers from key companies and all are guaranteed to arrive in time for Christmas. If you have a potential present or offer that would appeal to our audience, this is the ideal way to reach the all-important AB1 female market in the run up to Christmas. Prices start at just £99 for an A7 ad or you can upgrade to a 1/4pg, 1/2pg or full page to give your brand even greater exposure. The Gift Guide will launch on November 25th 2022 Contact kay@bwcedinburgh.co.uk to book your ad today!
Karen tells us: “Our skincare mission has always been to look the best version of yourself. Not perfect. The best temple. Your skin health is not only your natural barrier and outer shell but the most important visible layer to other people and the world. At TEMPLESPA we want you to look the best for the age that you are. To look healthy, energised, less tired, perhaps, and with good ‘skin health’. You will be content to age well.
Karen offers classes in Skin Therapy and Corporate Wellness both online and face to face, as well as one to one consultations. You can reach Karen on 07841572063 or on karendodds30@yahoo.com or forhttps://spatogo.templespa.com/karendoddsvisitmoreinformation.
Become a member to take advantage of our events and resources for women in business, including educational and networking events, as well as training and support for starting, developing, and growing businesses. As a part of a supportive network, you will learn how to overcome self-doubts and embrace being in business with confidence! The only requirements for joining BWC are a good internet connection and time to learn. BWC Membership The place to grow your business community. Get the tools you need to scale and grow your business, grow your career, and do what you love. We have three levels of STARTERmembershipMEMBERSHIP £120 0-3 years ESTABLISHEDtradingBUSINESSES £144 For established businesses trading for 3 years CORPORATE+ BUSINESSES £450 We offer corporate memberships to employees of companies with immediate access to many benefits As part of your membership we have video workshops covering some of these topics. • Legal & finances (plus done-for-you templates!) • Lead generation & email marketing • Business & life organisation • Influencer partnerships • Affiliate marketing • Branding & design • Facebook & Instagram ads • Content Creation • LinkedIn • Money mindset & high performance www.bwcedinburgh.co.uk yourselfIndulgewith We are delighted to welcome Karen Dodds of TEMPLESPA to BWC Edinburgh! The ethos behind the brand is simple. To create exceptional skincare products and experiences that make a real difference to your skin health and soul health. They believe that your body is a living temple. Honour it, enjoy your life and live it to the full. They offer cruelty free, botanical, anti-aging formula products as well as the exceptional wellbeing experience of a TEMPLESPA facial or class experience.
“We also want you to feel the best version of yourself. To have the best ‘soul health’. To feel good, feel healthy, feel confident, balanced, in control of your own destiny, able to inspire and make others feel good, too.”
You can reach Michelle on 0131 272 2772/07710 448 975 or at michelle@beaumontrecruitmentsolutions.co.uk
MICHELLE BEAUMONT
Over the past 25 years in business, no matter how knowledgeable you think you are, there is always something new to learn. Running a business is a lifelong learning journey. I am fortunate enough to have worked alongside some hugely successful, inspirational individuals, I viewed these individuals as my mentors.
I launched Beaumont Recruitment Solutions in February 2022 and we have grown very quickly in such a short period of time. I have just recruited my own VA – something I have never had historically – as well as a part-time recruiter to assist me. I hope to continually grow my business to recruit UK wide and internationally. What advice would you give to readers who have just launched their business or who are thinking of starting a new business? I would advise everyone to follow their gut instinct. Fear of the unknown is a good thing, it creates commitment, determination and focus. Know your chosen market inside out, ensure your service offering is marketable and adds value, understand your competitors USP’s and go for it! Don’t be scared of making mistakes, you learn from Surroundthese.yourself with like-minded individuals, seize every opportunity to continually learn new skills, seek out opportunities to collaborate and expand your business network.
We caught up with new BWC Edinburgh member, Michelle Beaumont of Beaumont Associates, to gain an insight into her career and company.
Throughout my career I have worked within a business sales focused environment. I have worked within the Scottish Recruitment profession for 25 years - I think I have actually worked for every recruitment business based in Edinburgh - before starting my own business, Beaumont Recruitment Solutions. I wanted to launch my own business, as I felt there was a lack of a consultative, client centric approach within the recruitment profession. Many of the larger recruitment businesses are focused on volume of CV’s despatched to their client base, achieving daily, weekly and monthly KPI’s. The lack of a personal, tailored recruitment strategy to capture the best talent available within the market when recruiting for clients, as well as looking above the parapet when representing candidates to help further their career, was very apparent. These missing ‘links’ were the catalyst for me launching my own business.
Keeping yourself grounded, listening to your clients’ needs, being professional.... at all times when interacting with individuals and consistently delivering the best possible service to your client base is key but, most importantly, have fun and enjoy your job. How did the pandemic affect your company?
What do you think are the key learnings you’ve taken from your 25 years in business?
I launched my business as the world was emerging from the pandemic, well, easing from it! Fortunately, the recruitment market is incredibly buoyant. Many of my clients had not recruited for their business for 2+ years and the need for their business services has increased, leading to a surge of recruitment openings. The downside to this is that quality candidates are very difficult to find, so it is very much a candidate driven market. Candidates’ salary expectations have become inflated making it challenging for employers, if their recruitment budgets are tight, to secure the best talent available. What are your aims and plans for the future?
Every day is a school day!
Tell us about your background and what led you to start your company?
InterContinental Edinburgh The George | 19-21 George St, Edinburgh EH2 2PB EdinburghTheGeorgeConference@ihg.com | +44 (0)131 240 7128 | edinburgh.intercontinental.com BE INSPIRED BY HISTORIC SURROUNDINGS In our beautiful hotel at the heart of Edinburgh’s New Town, your business meetings and events are expertly handled by our trusted advisors. Within 20 minutes of Edinburgh Airport and just a short walk from Edinburgh Waverley, the hotel is the perfect destination to come together.
