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TOURIST REVIVAL ISSUE 07


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FO REWORD

FOREWORD In sickness and in health: the unbreakable bond between the entrepreneurial spirit and the economy

es, the consensus is it’s going to get worse – ‘armageddon on the high street’, tabloid headlines scream – before it gets better. And yes, few businesses have escaped the effects of the financial fallout from Covid 19. It remains to be seen how long the employment register and, indeed, the economy itself will need to be hooked up to Rishi Sunak’s lifesupport machine.

And in Cambridge, the new National Centre for Propulsion and Power has opened within the hallowed halls of the Whittle Laboratory tasked, among other things, with helping us achieve Net Zero by 2050. We are at a turning point in terms of humanity’s need to decarbonise the aerospace industry, says its director Prof. Rob Miller. It is no glib, throwaway line to say East Anglia is scattered with beacons charting the region’s course to recovery.

Nonetheless, there is much to be hopeful about in East Anglia. The business community is still emitting strong signs of life. In this issue, we take a look at some of the bigbudget, ground-breaking developments that speak of inward investment, jobs and the pushing of technological boundaries. Norfolk and Suffolk’s share of the Government’s pandemic-recovery Getting Building Fund is £32m. It will kick-start a plethora of projects designed to create more than a thousand jobs, while protecting 3000 more. It should also leverage a further £85m in public and private sector investment. Great Yarmouth’s ailing business heart is set to be revived with a £49m injection of cash to boost the tourism industry that is its lifeblood. “These are exciting times for Great Yarmouth," say the councillors leading the way.

Helen Compson Editor, East Anglia in Business

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issue 07

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Foreword 03 In sickness and in health: the unbreakable bond between the entrepreneurial spirit and the economy

Tourism 06|09 A campaign to kick-start Norfolk and Suffolk’s tourism industry and put it ‘top of mind’ for holidaymakers planning a staycation has been launched.

Transport & Infrastructure 14|19 The Greater Cambridge Partnership has approved plans for a new high quality public transport route that will mean thousands of people can leave their cars at home and travel into the city and the Cambridge Biomedical Campus more sustainably.

Business Focus 20|23 Digital & Innovation 10|13 A new £9.6m digital skills training centre designed to provide “a rich pipeline of new technology talent” is on schedule to open in January.

Multi-million pound plans are afoot to return Great Yarmouth to its former glory.


CO N TENTS

Editor Helen Compson helen.compson@distinctivepublishing.co.uk

Design Distinctive Publishing, 3rd Floor, Tru Knit House, 9-11 Carliol Square, Newcastle, NE1 6UF Tel: 0191 580 5990 www.distinctivepublishing.co.uk

Advertising Distinctive Publishing, 3rd Floor, Tru Knit House, 9-11 Carliol Square, Newcastle, NE1 6UF Tel: 0191 5805990 www.distinctivepublishing.co.uk

Social

Energy & Environment 26|27 The new National Centre for Propulsion and Power was officially launched by the Prince of Wales in January. Now Cambridge City Council’s planning committee has approved plans for the expansion of Cambridge University’s renowned Whittle Laboratory in order to accommodate the groundbreaking enterprise.

East Anglia in Business @EAinBusiness

Wellbeing 34|35 As we gradually begin to adapt to the ‘new normal’, the mental health impact of the COVID-19 pandemic is beginning to emerge in new evidence.

East Anglia in Business www.eastangliainbusiness.co.uk

Legal 36|37 Business Focus 30|31 The majority of UK mid-market businesses (88%) have made fundamental changes to their business model during the pandemic, with half also planning to continue with the new model going forward.

When you first set up a limited company, it will invariably be purchased “off the shelf” with a ready-made set of ‘articles’. The articles are the constitution of the company.

Distinctive Publishing or East Anglia in Business cannot be held responsible for any inaccuracies that may occur, individual products or services advertised or late entries. No part of this publication may be reproduced or scanned without prior written permission of the publishers and East Anglia in Business.

Headline News 32|33 Projects across Norfolk and Suffolk which will benefit from a £32m Government funding boost have been announced.

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TOUR I S M

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TOURISM RECOVERY PLAN KICKS OFF A campaign to kick-start Norfolk and Suffolk’s tourism industry and put it ‘top of mind’ for holidaymakers planning a staycation has been launched.

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TOUR I S M

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ttractions, hotels, theatres and other businesses in the region’s £5bn visitor economy have felt the full force of the Covid-19 pandemic, with some forced to close and many laying off staff and suppliers. But with overseas tourism unlikely to recovery quickly post-lockdown and with theatres and other cultural venues likely to be among the last to reopen, there is an opportunity to capitalise on people looking to holiday at home and at less crowded resorts.

VISIT EAST OF ENGLAND www.visiteastofengland.com

A plan launched today by New Anglia Local Enterprise Partnership and Visit East of Englandhighlights the sector’s need to rese the way it does business, particularly through increased digitisation and reskilling, so it can take advantage of a rise in domestic breaks and be more resilient out-of-season. It also lays the foundations for the area to become one of the Government’s Tourism Zones, an initiative designed to boost holiday destinations across the country, helping create new jobs as well as supporting improvements in transport connections. Measures aimed at restarting the visitor economy, which have been developed with local authorities and other partners, include:

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Promoting Norfolk and Suffolk as ‘Unexplored England’, a title post-lockdown that will resonate with people looking for undiscovered, less populated areas. Scoping and bidding for funding for a Destination Alliance to deliver activity in a co-ordinated and collaborative way across local authorities and destination marketing organisations. Providing the right data and information at the right time, so businesses can focus their activities and play their best role in recovery. Collaborating with projects such as Look Sideways East, EXPERIENCE and Celebrating Culture 2021 to put cultural and experiential tourism at the heart of the recovery plans, promoting less well-known destinations and yearround attractions. Working with creative industries and other sectors to create innovative and immersive experiences for theatres, zoos and museums. Norfolk and Suffolk has one of the largest and fastest-developing local visitor economies in England, employing 89,100 people – 11.3% of the workforce – and supporting 7,050 businesses. Last year the area attracted more than 80 million day-trippers and just under 5 million staying visitors.


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That figure will be significantly lower in 2020, so it must position itself to recover in a way that will be fit for a very different tourism and hospitality landscape.

Before You Go’ initiative and the ‘We’re Good To Go’ industry standard and consumer mark, which shows the level of joined-up thinking from a local to national level.”

Doug Field, chair of New Anglia LEP, said: “The Covid-19 pandemic and lockdown has undoubtedly been one of the biggest challenges our local visitor economy has ever faced.

Theatres and other indoor cultural venues will be some of the last businesses to reopen, and research shows local theatres are projecting an unrecoverable gap of £10 million by September 2020.

“This Visitor Economy Recovery Plan brings partners together to commit to immediate actions to help businesses adapt, re-open and return to serving local communities and visitors as quickly and safely as possible.

However, they can play a key role in the longer-term recovery effort, said chair Helen Wilson - the New Anglia Cultural Board was developing an integrated vision of how the region’s cultural sector could drive both investment and growth.

“This plan, together with strong leadership, will help put Norfolk and Suffolk ‘top of mind’ and deliver a brighter future for the visitor economy.

The visitor economy across Norfolk and Suffolk is worth more than £5bn and employs around 120,000 people, many of whare young people early in their careers.

“Our recovery has to be built on successful partnerships and collaborations and by working together we can support this important sector, its businesses and staff to restart and recover.” Andy Wood, chairman of Visit East of England, said: “The visitor economy across Norfolk and Suffolk is worth more than £5bn and employs around 120,000 people, many of whare young people early in their careers.

S​ he said: “The cultural sector lies at the very heart of our tourism offer and plays a major role in attracting many of the visitors to our region. Like the rest of the visitor economy, the arts and entertainment have been hit very hard by the pandemic and are facing an uncertain future. “If the visitor economy is to return to the success it has seen in recent years, it is vital that a vibrant cultural sector is able to make a full contribution to that regrowth. Collaboration will be key to our success and this Recovery Plan is an important step in positioning ourselves for new growth.”

“It is therefore a vital sector for the region’s jobs and economic wellbeing, as well as a means of showcasing the very best that our two great counties have to offer to both domestic and international visitors. “As one of the first sectors in and one of the last out of the crisis, it has been hit hard by Coronavirus. The sector is an eco-system of thousands of small and medium, often family-owned enterprises that will respond quickly and innovatively as demand returns. “Therefore, this Visitor Economy Recovery Plan is an essential piece of work that will underpin the sector’s return to health and prosperity for the benefit of Norfolk and Suffolk.” The publication of a co-ordinated recovery plan for the sector in Norfolk and Suffolk has been welcomed by VisitEngland. Its director Andrew Stokes said: “This kind of collaborative work will be vital in helping the visitor economy recover post-pandemic and it’s encouraging to see so much engagement, particularly with Visit East of England’s Tourism Business Survey. “There are references to VisitEngland’s ‘Know

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DI GI TAL & I N N OVAT IO N D i g i Te ch

NEW £9.6M CENTRE CEMENTS UNIQUE DIGITAL SKILLS PARTNERSHIP A new £9.6m digital skills training centre designed to provide “a rich pipeline of new technology talent” is on schedule to open in January.

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he DigiTech Centre, a collaboration between the University of Suffolk and BT and supported financially by the New Anglia Local Enterprise Partnership, will provide training in cutting-edge digital skills for people looking to pursue careers in the information and communications technology sector.

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The aim is that the stream of highly qualified potential employees coming out of its doors will fuel tech businesses nationwide. Prof. Nicholas Caldwell, professor of information systems engineering at the University of Suffolk, said: “This partnership project provides a 21st


D IG ITAL & IN N OVATI ON D i g i Te ch

century centre for teaching digital skills and courses for the benefit of everyone in the region. “It provides a venue not just for students who want to get degrees, but also for continuing professional development and people who are already in employment - the centre is in the heart of the Innovation Martlesham cluster of 140plus hightech companies with unparalleled opportunities for co-operation at every level. “We are amongst just a handful of universities globally to have the direct backing and link with one of the world’s top communications companies in BT. We expect this will help to attract students from far and wide." The centre will be part of the Innovation Martlesham technology cluster at Adastral Park, home of BT Labs and a further 130 companies. The hub of BT’s global Research and Development arm, Adastral Park, on the outskirts of Martlesham near Ipswich, was opened by Her Majesty the Queen in 1975.

Last December, Princess Anne gave the royal seal of approval to the new DigiTech Centre when she visited Adastral Park to take a look at the plans. The centre will house not only to Suffolk University’s ICT and Digital Creative courses, but also a range of new and innovative courses in emerging technological disciplines, such as telecoms and future networks, artificial intelligence, data science and software defined systems, cloud computing and all aspects of smart metrology, testing and verification.

Artists impression of the new DigiTech Centre

Specialist high tech laboratories will form the heart of the new centre, to be used jointly by university staff, students and businesses at Adastral Park and, indeed, from across the region. Prof. Tim Whitley, Managing Director of Research at BT, said: “This new centre will create a rich pipeline of new technology talent, powering the East of England’s growing reputation as an ICT powerhouse, and fuelling the growth of innovative businesses across the UK.

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DI GI TAL & I N N OVAT IO N D i g i Te ch

Adastral Park

“We’re delighted to be working with the University of Suffolk and the New Anglia LEP to embed the Digitech Centre at the heart of the Innovation Martlesham technology cluster, to create a rich ecosystem for growth in digital innovation.” The New Anglia Local Enterprise Partnership has supported the development of DigiTech to the tune of £6.5m. Chair Doug Field said the centre would give East Anglia’s growing ICT ecosystem a significant boost, not least because it would provide a collaborative space in which firms could improve and develop their own IT systems. “It will assist productivity in sectors which use ICT as a key enabler, hugely increase the capacity of the University of Suffolk’s School of Science, Technology and Engineering, and double the number of apprenticeships available,” he said.

LISA PEKINS

Lisa Pekins, BT Adastral Park and Research & Realisation Director

“Adastral Park is a world-leading ICT cluster and by investing in this and other projects, the Local Enterprise Partnership can help to provide the infrastructure, skills and innovation needed to supercharge our economy.” DigiTech will ultimately play host to around 500 students and 145 apprentices each year, with students slitting their time between Adastral Park and Suffolk University’s Waterfront Campus.

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It is expected that BT’s global standing will attract students and trainees to DigiTech from all over the world. Lisa Perkins, BT Adastral Park and Research Realisation Director, said: “Adastral Park is already home to cutting edge technology research and innovation, for BT and the Innovation Martlesham cluster, and this will be strengthened further by the addition of the new DigiTech Centre. “This is an important collaboration with our partners and I believe it will have a major beneficial impact for East Anglia, both in terms of contributing to the regional economy and enhancing the area’s reputation as a source of world-class talent in the fields of technology and research. “The new centre will provide exciting career opportunities for apprentices and graduates and create a pipeline of new technologists for BT. In turn, it will also lead to a talent pool for local companies and the development of new start-up businesses. “The DigiTech centre will offer training in areas of emerging technologies such as artificial intelligence, cloud computing and data science; technologies that will have an enormous impact on the way we all live, work and play in the future.”


D IG ITAL & IN N OVATI ON

R e ac t Comp uter Par t ne rshi p

REACT COMPUTER PARTNERSHIP For almost a quarter of a century now, the React Computer Partnership in Woodbridge, Suffolk, has acted as right-hand man for small to medium size companies in need of an IT department.

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pecialising in the supply, installation and support of business IT systems, last summer the family behind it, the Pledgers, were anointed Family Business of the Year at the East of England FSB Celebrating Small Business Awards. No-one is immune to the threat of cyber hacking, no matter how big or small their business operation. But there are simple defence mechanisms you can put in place to hugely reduce the risk of becoming a victim, said React Computer Partnership director Francis Pledger. The starting point is to wake up to the risks in the first place – to become aware of just how hackers work and what they are after. “People can’t be complacent and think ‘I’m only small, it wouldn’t be worth bothering with me’, because just last week there was an example of a man, a solooperator, who had to pay thousands to get his data back,” he said. “But in any attack, it could be that the individual is not the final intended victim – they could just be the stepping stone, the entry point into their organisation.” Hackers are commonly using one of two approaches: a spray attack, in which they cast their net widely in the hope of catching at least a minnow, and/or the very targeted spear phishing, in which case they have the biggest of fish in their sights. A spray attack will begin with the harvesting of as many usernames in an organisation as possible. That isn’t hard, given the standard ‘first name.surname@ companyname.co.uk/com’ format and the availability of staff profiles on company websites and LinkedIn. Francis said: “Once they have usernames, they will carry out the spray attack picking a common password, and unfortunately people still use the same password over and over again – ‘password’ and ‘123456’ are still the most common ones. “They will try all of the usernames, working through a list of common passwords, until they get a hit. Then all they’ve got to do is log in and take over that person’s account. “From there, they will begin generating emails effectively from that person, often saying ‘I’ve just shared a document for you to review’ and the recipient will have to log in to review it, thereby giving the hacker their account details too.” And so it goes on, with the hacker usually trying to move as far up a hierarchy as they can, to the most senior people with the highest level of privileges.

Once they think they’ve reached someone with enough authority, they will strike, sending a ransom ware bomb into the IT system to encrypt the organisation’s data. “Shortly after that, the company will get an email saying, give us ‘x’ thousands of pounds or we’ll delete it all,” he said. If and when the hacker gets to chief executive or, say finance director, level, it turns into spear phishing, big game hunting style. By now, the stakes are high. “If they have managed to harvest the CEO or finance director’s account details, they won’t do anything for a while, just sit and watch their email correspondence,” said Francis. “Then at the right time, when say the CEO has gone on a business trip abroad, the finance director will get an email saying something like ‘Sorry, I’m in a meeting at the moment, but I said we’d pay this person this amount – can you make the payment now’.

REACT COMPUTER PARTNERSHIP 01394 387337 info@reactcp.co.uk www.reactcp.co.uk

“When the CEO returns, he/she knows nothing about the email, of course, but it’s too late, the money’s gone.” React Computer Partnership makes a point of ensuring its clients employ the three basic lines of defence against cyber-attack. One, secure IT infrastructure by ensuring staff use strong passwords. Microsoft Office 365 also offers a two-factor authentication before allowing a log-in, presenting hackers with double the trouble. Two, put staff on the alert, teach them what to look out for. Three, know in advance how you would restore data and, importantly, how long that would take, should the worst happen.

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T RAN S P ORT & INF RAST RU CT U R E C a m br id ge S o u t h E a st Trans p or t

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TRAN SPO RT & IN F RASTRU CTURE C ambr id ge S o ut h E a st Tran s p or t

NEW PUBLIC TRANSPORT AND CYCLING SCHEMES APPROVED The Greater Cambridge Partnership has approved plans for a new high quality public transport route that will mean thousands of people can leave their cars at home and travel into the city and the Cambridge Biomedical Campus more sustainably.

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T RAN S P ORT & INF RAST RU CT U R E C a m br id ge S o u t h E a st Trans p or t

people can walk, cycle or ride horses the whole length of the route – encouraging sustainable and active travel. A full environmental impact assessment of the preferred scheme, along with a further phase of public consultation, will take place in the autumn. The final scheme will then be sent back to the Executive Board for a final decision before an application is submitted to the Secretary of State for approval. The Partnership’s priority public transport routes form an integral part of the delivery of the Cambridgeshire and Peterborough Combined Authority’s Cambridgeshire Autonomous Metro (CAM) scheme, part of a network of regional routes planned for delivery by 2024. The Executive Board also approved a range of experimental projects to support work led by Cambridgeshire County Council to make it safer for people to cycle and walk around Greater Cambridge during the Covid-19 pandemic. Walking and cycling has been identified as vital to the national recovery from Covid-19 and local authorities across the country are working to make them easier and safer, while supporting social distancing. The GCP plans, part of a wider programme developed by the county council, include extensions to the pedestrianised zone in the city centre and other changes to create low-traffic streets.

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n June, its Executive Board gave the green light to a raft of plans to transform the way people travel, including the preferred off-road route for phase two of the Cambridge South East Transport scheme, three further ‘Greenways’ schemes for segregated cycling, and experimental walking and cycling measures to support people and businesses through the recovery from Covid-19.

CAMBRIDGE SOUTH EAST TRANSPORT www.greatercambridge.org.uk

The Cambridge South East Transport Scheme will connect the city and Cambridge Biomedical Campus with communities to the south-east, such as Great Shelford, Stapleford and Sawston, as well as link the key employment sites of Granta Park and Babraham Research Park. A new travel hub near the A11 will mean drivers can leave their cars outside the city and complete their journeys on bike or improved public transport services running on a segregated offroad route. The route is intended to be served by modern, electric vehicles to limit air pollution and noise, and will also deliver a separate path alongside so

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It aims to provide additional cycle parking alongside improved access to ebikes and cargo bikes, and will work with businesses to develop a pilot for deliveries and freight in the city centre. The Executive Board has also approved plans for a new travel hub to the south of Foxton Station, designed to enable more people to leave their cars and travel by public transport. Executive Board chairman Coun. Roger Hickford said: “The approval of the Cambridge South East Transport scheme is a big step in our ambitions to reduce congestion and improve air quality by giving thousands of people travelling from the south east the option to get out of their cars and switch to first-class public transport services to get to work and appointments at the Cambridge Biomedical Campus. “Supporting more people to walk and cycle has been identified as vital to the national recovery from Covid-19 and so I am pleased that we are able to support Cambridgeshire County Council to make it safer for people to get around by funding these schemes that can be installed quickly on an experimental basis and enable people to try them out and provide feedback to us.”


TRAN SPO RT & IN F RASTRU CTURE C ambr id ge S o ut h E a st Tran s p or t

Supporting more people to walk and cycle has been identified as vital to the national recovery from Covid-19 and so I am pleased that we are able to support Cambridgeshire County Council to make it safer for people to get around by funding these schemes that can be installed quickly on an experimental basis and enable people to try them out and provide feedback to us.

COUN. ROGER HICKFORD EXECUTIVE BOARD CHAIRMAN

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T RAN S P ORT & INF RAST RU CT U R E C a m br id ge C i t y A i r p or t

HOW TO JET OFF IN SAFETY AND COMFORT The time has come to get back in the air, to get back out into the world, reconnect with customers, family and friends, and kick-start the economy after many months of lockdown.

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ou may think it’s not just as simple as booking a flight, heading to the airport and jetting off. Now you will also want to take Covid-19 into consideration and ensure that any journey you take is as low risk as possible, for you, your loved ones and business contacts. That’s where smaller, regional airports, like Cambridge City Airport, come into their own. We’ve always been known for our friendly, tailored, customerfocused service, great destinations and superb charter flights and now you can add strict antiCovid safety measures to that list too. When we redesigned our FBO last year we wanted to make it as quick and convenient as possible, so you can go from our front door to your flight with the minimum of disruption.

Then you can head straight through security screening to the comfortable lounge, where the same measures are in place. Chartering a private jet or helicopter is more cost-effective than you might imagine, and with pandemic safety measures in place, including state-of-theart air purification equipment that helps minimise infection, makes more sense than ever.

We’ve always been known for our friendly, tailored, customer-focused service, great destinations and superb charter flights and now you can add strict anti-Covid safety measures to that list too.

That is even more essential during and post-pandemic, when you want to minimise contact as you progress through the airport to your personal charter flight. Unlike commercial airports and airlines, here there are no queues. We check your bags immediately you enter our FBO at Cambridge Jet Centre,

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where you’ll find hand sanitiser, and friendly staff wearing masks and socially distancing.

Add to that the list of destinations we fly to, those on the UK Government’s list of countries and territories in the UK’s travel corridor, so you can go there and back without having to self-isolate.

That’s not just convenient, it also saves valuable time and money, and takes the stress and strain out of jetting off, whether for business or pleasure. We are already seeing more than 100 per cent increase in demand in the last two months from customers who appreciate the efficiency of being able to head off to Europe for meetings and jet


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back the same day with the minimum of disruption – few contact points, maximum cleansing opportunities and no self-isolation requirements. If that is not convenient enough, there is the added benefit of being just a few meters from our secure car park or taxi drop off, thereby saving even more time and further reducing the risk of exposure to infection. We also offer state-of-the-art business facilities, so if you have to work, you can do so in safety and comfort. We partner with Weston Aviation and Apollo Air Services, who offer an extensive charter service for individuals or business. If you would like any further information, please contact them on + 44 (0)845 050 6500 or email chartersales@ westonaviation.com to receive a quote. https://www.westonaviation.com/charter/

Check out some of our prices for your Leisure or Business Aviation. For a little getaway, you can travel to Europe for as low as £5,300!

Berlin

£7,800

Dublin

£8,300

Cork

£7,200

Isle of Man

£6,200

Milan

£8,700

Venice

£11,500

CAMBRIDGE CITY AIRPORT cambridgeairport.com

Madrid

£11,800

Cambridge City Airport, Newmarket Road Cambridge

Note: These prices are based on a King Air aircraft and includes up to seven passengers. Weston Aviation would look at entry level jets and above for the longer journeys and you will receive a

CB5 8RX enquiries@cambridgeairport.com Cambridge Jet Centre Phone: +44 1223 373214 Email: fbo@cambridgeairport.com

personalised quote. We are looking forward to the future of the aviation industry. Being flexible and adaptable,

Jersey

£6,000

while maintaining the safety of passengers, is vital

Guernsey

£6,000

need to travel.

Amsterdam £5,300 Paris

£6,800

to regaining the confidence of those who want and

These are just some of the many benefits of travelling through our award winning top regional airport. Your comfort and safety is our top priority.

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BU S I N ES S FOC U S

Gre at Ya r mo u t h B oro u g h Co unc i l

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BU SIN ESS FOCUS

Gre at Yar mo ut h B oro u g h Co unc i l

REVIVING THE BUSINESS HEART AND SOUL OF A SEASIDE TOWN

Redeveloped Market Place visualisation

Multi-million pound plans are afoot to return Great Yarmouth to its former glory.

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BU S I N ES S FOC U S

Gre at Ya r mo u t h B oro u g h Co unc i l

“While all town centres face shrinking retail space and reduced footfall, successful places continually reinvent themselves, using their special strengths as a platform.” The town centre plans dovetailed with other regeneration work and investment in the borough, including on the seafront, North Quay and Hall Quay, and would hopefully act as a catalyst for further investment. “These are exciting times for Great Yarmouth," they added. Great Yarmouth’s MP Brandon Lewis said: "The borough council is submitting a strong bid which would result in transformational change for the town centre and I would like to congratulate everyone involved in preparing it. “As the Member of Parliament, I have no hesitation in backing this bid and will champion the cause in Westminster." The council expects to get an answer towards the end of the year. The proposals include:

The Conge redevelopment - indicative visualisation

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reat Yarmouth Borough Council has set the wheels in motion of a £49m regeneration package designed to revive the town centre as a vibrant economic, cultural and community hub. Part and parcel of that is the £19.9m application it has now submitted to the Government’s Future High Streets Fund. Building upon the Town Centre Masterplan and significant highways improvements already made at key gateways, the ambition is to diversify the town centre’s offer and make the most of the borough’s rich heritage, in the process maximising the potential for tourism businesses.

GREAT YARMOUTH BOROUGH COUNCIL www.great-yarmouth.gov.uk

By introducing more residential, cultural and leisure uses, bringing empty and often historic buildings back into play in the process, and improving the links between key gateways and the seafront, the council intends to make the most of the town centre for residents and visitors alike. A new heritage centre and the burnishing of the main arrival points will help boost visitor footfall and spend. The vision also includes relocating the well-used library to a larger building in a more central location, converting empty or under-used buildings into new homes, giving the go-ahead for new housing on The Conge and King Street and treating the Market Place to a facelift. Councillors Carl Smith and Trevor Wainwright said sustainability was at the heart of the plans. In a joint statement, the leaders of the council's main political groups said: "Government funding is critical to delivering transformative change for our town centre. “We have put together a robust business case and an exciting and cohesive vision for regeneration, including an enhanced library as a new leisure anchor.

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Enhanced library. The council is working with Norfolk County Council to explore opportunities to relocate the strong library offer to a more central location, with the potential to later attract even more people and possibly expand the facilities into a learning hub, working with local schools and colleges. Any library move will be subject to funding, public consultation and a suitable building being secured. Initial conversations are underway with the owners of the former Palmers building. New homes. The council recently submitted a planning application to redevelop The Conge with 89 new homes, helping to meet local need for good quality housing and improving the entry point to the town centre for those coming in from the railway station. Match funding is being sought from the Future High Streets Fund. The council is also seeking funding for residential conversion of a number of nigh-on empty historic buildings in the Market Place and King Street. In addition, funding is being sought to enable Great Yarmouth Preservation Trust to develop new contemporary houses on eight plots at the rear of King Street, which would also improve the street scene. Market Place. Match funding is being sought from the Future High Streets Fund to redevelop the Market Place and a planning application has been submitted. The council wants to expand the size of the events space available and plant 50 flowering cherry trees around the car park, among other things. Heritage centre. Supported by the council and part of the Future High Streets Fund bid, Great Yarmouth Preservation Trust has recently bought the empty former Greenwoods store with plans to convert it into a new heritage centre. Low carbon and digital targets. In addition to targeted tree-planting, the council is seeking funding for other green measures, such as more electric vehicle charging points, future proofing public transport and increasing the use of digital technologies.


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Gre at Yar mo ut h B oro u g h Co unc i l

The town centre plans dovetailed with other regeneration work and investment in the borough, including on the seafront, North Quay and Hall Quay, and would hopefully act as a catalyst for further investment. These are exciting times for Great Yarmouth.

CARL SMITH & TREVOR WAINWRIGHT COUNCILLORS

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ADVE RTOR I AL I ndi go S wa n

CORONAVIRUS, THE ENERGY INDUSTRY AND MAKING INFORMED DECISIONS The world has changed a great deal since the beginning of March 2020 a global pandemic tends to have that effect. One thing is certain, no one envisaged in January that many of us would spend several months in lockdown with little to no physical contact with the outside world.

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rotecting and stabilising operations, people and supply chains has been the priority for many businesses but now organisations need to start thinking strategically about how they will adapt as the pandemic evolves. The phrase ‘new normal’ has been abundant throughout the coronavirus pandemic but there must become a point when we start accepting that the current situation is now just ‘normal’ and that we need to adapt to this way of working.

INDIGO SWAN www.indigoswan.co.uk

As we slowly creep out of lockdown and measures are eased slightly, there is no doubt that there will be continued restrictions in place for some time and the possibility of a second wave of infection outbreak is high. This means businesses need to build some level of flexibility and resilience into their short- and medium-term business planning. Organisations from all sectors will want to examine their approach to risk with a fresh set of eyes and consider what measures are needed to offer more security. Forecasting your future energy costs can be tricky but is also one way of bringing some financial security to the current volatile situation. Getting to grips with your utility bills and energy usage can help to make sure your business is running as efficiently as possible and knowing when is best to renew your contracts forms a small part of that. As an energy consultant, Indigo Swan can help you to gain a better understanding of the current energy markets and guide you through the best time to renew your contracts based on actual market price movements. A vital part of operating a successful and profitable businesses is by keeping running costs as low as possible.

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The impact of coronavirus on energy markets has resulted in wholesale prices falling to those historic low levels seen in 2016. At one point recently the US oil price even went negative, meaning people were paid to take barrels. The supply/ demand balance has never been more out of kilter. Indigo Swan can forecast a ‘best time to renew’ by cross referencing an actual quote for your supply with real market knowhow. By using information that is relevant to you, combined with up-to-date market information, we can target our analysis, providing you with a report designed to assist you to make better decisions about your energy. There will always be unforeseen costs that arise. What you can do is have a good understanding and grasp of those expenses you do know about, which includes your utility bills. It’s important that we plan for a new sense of vulnerability. Businesses should use their pandemic experience to inform reviews of their business continuity plans and crisis management strategies. As the focus shifts to stabilising our new environment and looking ahead, balancing budgets has never been so prevalent. Each decision we make effects how our future is shaping. We are here to help make some of those decisions easier and lighten the load. If you would like any more information, please feel free to contact Indigo Swan. Email: hello@indigoswan.co.uk Telephone: 01603 625522 www.indigoswan.co.uk


ADV ERTORI AL

I ndi go S wa n

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E N E R GY & E N V IRO NM E NT

Nat ion a l Ce nt re for Pro p uls ion & Power

NEW CAMBRIDGE CENTRE HAS NET-ZERO IN ITS SIGHTS The new National Centre for Propulsion and Power was officially launched by the Prince of Wales in January. Now Cambridge City Council’s planning committee has approved plans for the expansion of Cambridge University’s renowned Whittle Laboratory in order to accommodate the groundbreaking enterprise.

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ime is of the essence, said the man at the helm of the new centre tasked with accelerating the development of lowcarbon technologies for the propulsion and power industries. Prof. Rob Miller, Director of the Whittle Laboratory, located within the university’s engineering department, said: “Our enemy is time. To achieve net-zero by 2050 we have focused on accelerating the technology development process itself.” To that end, the new centre, which is due to open in 2022, will bring together researchers from across the UK university network with industry partners such as Rolls Royce, Mitsubishi Heavy Industries, Siemens and Dyson.

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Prince Charles started the ball rolling in January. Patron of the University of Cambridge Institute for Sustainability Leadership (CISL), he hosted a roundtable meeting of aviation and power generation business leaders, senior Government officials and researchers. They talked about how, practically, the UK could accelerate the development of low-carbon technologies. Prof. Miller said all concerned recognised where we stood in the journey. “We are at a pivotal moment, in terms of both Cambridge’s history of leading technology development in propulsion and power, and humanity’s need to decarbonise these sectors. “Fifty years ago, the Whittle Laboratory and its industrial partners faced the challenge of making air travel efficient and reliable.


EN ERGY & EN V IRO N MENT

Nat ion al Cent re for Prop ul sion & Powe r

“Now the new Whittle Laboratory and the National Centre will enable us to lead the way in making it green.” Supported by the Aerospace Technology Institute with funding from the Department of Business, Energy & Industrial Strategy, the centre aims to meet around 80% of the UK’s future aerodynamic technology needs. Tightening the circle between design, manufacture and testing will be crucial. In a three-pronged attack, design times are being reduced through the use of artificial intelligence and augmented design systems run on graphics processors, originally developed for computer gaming.

“By fuelling innovation, we will ensure the UK remains firmly established as a world leader in low carbon technologies as we make strides towards our goal of net zero emissions by 2050.” The university brought together the different strands of its research, policy and private sector engagement activities on climate change under the umbrella of ‘Cambridge Zero’ in 2019. It describes the Whittle Laboratory and CISL as key to promoting and facilitating the ability of academia, the Government and the private sector to work as one on the most important issue of our age. In June, Cambridge City Council gave the go-ahead for the construction of the new building that will house the National Centre for Propulsion and Power.

Manufacturing times are being reduced by directly linking the design systems to rows of in-house 3D printing and rapid machining tools, rather than relying on external suppliers.

Located on the university’s West Cambridge campus, it will replace part of the current Whittle Laboratory and “worn out facilities that were installed 50 years ago”.

And testing times are being reduced through the development of rapid assembly and disassembly experimental test facilities, which can be operated by Formula Onestyle pit teams.

Prof. Miller said: “The Whittle Laboratory has high expectations for the design of the new building, working with an internationally renowned architect who has been able to balance the practical needs for the national facility with stringent design requirements for west Cambridge."

“There’s a natural human timescale of about a week, in which if you can go from idea to result, then you have a virtuous circle between understanding and inspiration,” said Prof. Miller.

There’s a natural human timescale of about a week, in which if you can go from idea to result, then you have a virtuous circle between understanding and inspiration.

“We’ve found that when the technology development timescale approaches the human timescale – as it does in our leaner process – then innovation explodes.” Simon Weeks, Chief Technology Officer of the Aerospace Technology Institute said: “We are pleased to support the National Centre for Propulsion and Power with funding through the ATI Programme. “The centre will play a critical role in developing sustainable propulsion technologies, a key part of the UK’s air transport technology strategy. “It builds on the world-leading reputation of the Whittle Laboratory to create a globally unique capability.” Business Minister Nadhim Zahawi said: “The new National Centre for Propulsion and Power will support the UK’s thriving aerospace sector and help it develop cutting-edge technology at an even faster pace.

NATIONAL CENTRE FOR PROPULSION & POWER

A planning officer’s report said the development would contribute significantly to the local economy, not least through the continued employment of the 74 members of staff at the Whittle Laboratory and the research potential vouchsafed for students. The facility would focus on the development of technology for ultra-low emission aircraft and low carbon power generation, it added. A Cambridge University spokesperson said: “The further development of the Whittle Laboratory, as part of the wider West Cambridge development, will provide the very latest facilities for world-class teaching and research, housing the National Centre for Propulsion and Power laboratory – the new UK centre for low-carbon aviation. “As part of a well-connected R&D environment that benefits Cambridge, the region and the UK – designed to high standards in environmental sustainability – the development will help foster the exchange of ideas and knowledge, including with world-class manufacturers, and ensure Cambridge continues to attract the most talented academics and researchers from across the UK and the world.”

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ADVE RTOR I AL

SHAPE YOUR ORGANISATION’S CULTURE Established in 2012 by Mary Aslett, an experienced professional in the world of learning and development, Corporate Growth Consultancy provides solutions to help businesses grow and prosper from their base near Eye in Suffolk.

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e became Everything DiSC® and Five Behaviors™ Authorised Partners in 2017 and have successfully used the full suite of applications with businesses alongside our extensive range of short courses. No matter how you define it, organisational culture has faced dramatic—likely permanent—changes in the wake of COVID-19. Sudden transitions to remote working for many have forced new ways to communicate. Businesses are used to doing more for less and now, more than ever, businesses face a very real choice between actively shaping a culture that supports business recovery or letting culture emerge in a way that drag down morale, collaboration and performance. It’s undeniable that culture matters, and organisations must take action to purposefully shape a culture that supports morale, recovery, and continued success. But culture doesn’t transform by itself—it needs a catalyst. Everything DiSC®, can be that catalyst. Culture doesn’t improve or change with a single event but rather it is built and reinforced over time enabling everyone to work towards a shared vision for success.

Everything DiSC Workplace® on Catalyst™ takes the best-selling Everything DiSC Workplace® experience to the next level. Designed to engage everyone in an organisation in building more effective relationships at work, Workplace on Catalyst helps people adapt to others in real-time. By combining the Everything DiSC® assessment, Catalyst platform, and instructor-led facilitation (currently virtually), participants will: Discover their DiSC® style Deepen understanding of self and others Learn how to build better relationships with others Access real-time tips for more effective interactions with their colleagues Build the foundation for future social and emotional skills training With our guidance, Workplace on Catalyst inspires a more engaged, collaborative culture that improves the overall quality of the workplace.

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01603 931764

MARY ASLETT Corporate Growth

Get in touch to find out how we can help you shape your organisation’s culture in a way that supports employee morale, business recovery and continued success. Call: 01379 308690 Email: Hello@corporategrowth.org Web: corporategrowth.org


ADV ERTOAL RIAL ADV ERTORI I nd i go S wa n O p e n CR M

MHA Larking Gowen can help you through these uncertain times

Now more than ever it is important to keep track of your business’s financial performance, instil stability and minimise disruption. The team at MHA Larking Gowen is on hand to help.

“ Keeping you moving during “

COVID-19

Now, for tomorrow

T: 0330 024 0888 29 larking-gowen.co.uk

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BU S I N ES S FOC U S Gra nt T hor nton UK L LP

UK MID-MARKET PERMANENTLY CHANGED BY PANDEMIC UPHEAVAL The majority of UK mid-market businesses (88%) have made fundamental changes to their business model during the pandemic, with half also planning to continue with the new model going forward.

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hat’s according to new research from Grant Thornton’s International Business Report, which explores the impact of COVID-19 on businesses in the UK and across the world. The H1 2020 IBR data shows that changes made by UK mid-market businesses have been wide ranging and include: 42% have adjusted their business strategy almost half (49%) have implemented home or flexible working over a third (34%) have reduced capacity or closed/suspended operations over a third (34%) have had to make redundancies, introduce pay cuts, introduce unpaid holiday, or make use of the government’s furlough scheme.

Financial support measures have been a lifeline for the UK mid-market

TIM TAYLOR

East Anglia Practice Leader Grant Thornton UK LLP www.grantthornton.co.uk

As government now starts to move into the second phase of its economic response to the virus, the survey found that the financial support measures introduced by government to support the country through the pandemic so far have been vital, with over a third of respondents (35%) using, or planning to use, government grants. The Coronavirus Job Retention Scheme (CJRS) was ranked as the most beneficial measure. But with the Chancellor confirming that the CJRS will definitely end by October this year, and the new Job Retention Bonus only providing support through to January, worryingly, the research finds that one in four UK companies still need to access new funding, and also cut costs and restructure, in order to continue trading.

Mid-market growth expectations at record low as uncertainty and economic impact of pandemic hit Less than a third (31%) of UK companies feel optimistic about the outlook of the country’s economy over the next 12 months; a stark 15 percentage point drop from H2 2019 and a significantly lower result than the global average, (43%).

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This fall in optimism is also impacting revenue expectations with less than a third of UK companies (32%) expecting to see an increase over the next twelve months; a 21 percentage point drop compared to H2 2019 and the lowest level recorded by the IBR since it launched in 2011. On average, UK firms expect revenues to fall by 11% in 2020 due to COVID-19. Economic uncertainty was cited as the biggest constraint to growth for the UK mid-market (70%). A shortage of orders (51%) and a shortage of finance (45%) were also highly ranked, both increasing in significance since the second half of 2019 (+12 and +11 percentage points respectively).

Business strategies set for a revamp as businesses start to plan for market recovery The research found that many companies are also looking to make specific changes to their business strategies after COVID-19, as the pandemic has highlighted areas for improvement. Digital transformation was ranked top, with 48% of UK companies anticipating they will need to make more use of technology – despite an expected drop in investment recorded in this area (-10 percentage points since H2 2019). This was followed by changes to improve their organisational flexibility (41%), improve their crisis management process (36%) and build more resilience in their supply chains (33%). Despite the ongoing uncertainty, many UK midmarket businesses are now starting to look ahead and prepare for market recovery. Over half (54%) of the companies surveyed have started to plan for their workplace safety in the future, compared to only 47% globally. A third (35%) have also started to plan different scenarios for the scale-up of their company operations. Tim Taylor, East Anglia Practice Leader at Grant Thornton UK LLP, said: “The coronavirus pandemic has meant businesses around the world are continuing to face a myriad of issues affecting every aspect of their company, from their people, to their customers and suppliers and their fundamental business operations.


BU SIN ESS FOCUS

Grant T hor nton U K L L P

“The support made available to companies over the last few months has been critical to keeping the economy and many companies afloat. But we know this support cannot last forever. “The new measures announced by the Chancellor in his economic update may provide further temporary support for those affected by furlough, and hard-hit businesses in the hospitality and tourism sectors, but questions remain around the longer-term impact and how much further support will be needed. “The impact of the pandemic has been stark and with so many continued unknowns, combined with Brexit, it is unsurprising to see that business optimism and growth expectations have dropped significantly. “But while there is challenge there is also opportunity. In times of crisis, innovation is rife and many organisations have seen rapid change during the pandemic, as necessity has removed barriers to transformation efforts.”

“Volatile times call for real-time understanding of where your business is at,” said Tim, “a focus on building business resilience and the courage to take action supported by clear and informed decision making. “While businesses still need to focus on the immediate pressures of today, it is encouraging to see that many are also starting to plan for tomorrow by: considering how to safely return to the workplace, updating their business strategy to ensure it reflects their new priorities, and determining how best to scale up their company operations. “Agility and resilience will be critical to success as we move into the next few months. Businesses will need to continue to be open to doing things differently and embedding any new, successful, workplace practices, to ensure survival and growth post the pandemic.”

The importance of technology had proved paramount in enabling businesses to remain connected with their people and their stakeholders, and in opening up new commercial opportunities, he said. Now was a critical moment for businesses, as lockdown continues to ease and more companies start to re-open, to decide how they want their business and their people to operate and work moving forward. And for many, this might not be a return to the ‘old normal’, as its research had found a continued, fundamental shift in the business models of the UK mid-market.

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H E ADLI N E N E WS Ne w A ng l i a L EP

£32M CASH BOOST FOR PROJECTS ACROSS NORFOLK AND SUFFOLK Projects across Norfolk and Suffolk which will benefit from a £32m Government funding boost have been announced.

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ew Anglia Local Enterprise Partnership learned in July it had been awarded the money from the Government’s Getting Building Fund, designed to help deliver jobs, skills and infrastructure in the wake of Covid-19. On Tuesday, August 4th, it duly announced how the money would be spent. It includes the redevelopment of the derelict Burtons building on Ipswich waterfront, the creation of an energy sector Operations and Maintenance campus in Great Yarmouth, a new Integrated Care System Academy at the University of Suffolk and additional funding for New Anglia LEP’s Business Resilience and Recovery Scheme, which offers grants to businesses as they recover from the effects of the pandemic. Together, the projects will:

DOUG FIELD

Chair, New Anglia LEP www.newanglia.co.uk

“It shows the Government’s commitment to our area and allows us to work with partners to bring forward key infrastructure projects and help us achieve the goals in the new Economic Recovery Restart Plan and Economic Strategy.” The full list of approved projects: Redevelopment of Burtons building, Ipswich Redevelopment of Cornhill, Bury St Edmunds Micro generation and storage of electricity on car parks in Babergh and Mid Suffolk Extending full fibre broadband in Suffolk East Suffolk Market Towns project

Create 1,100 new jobs

Integrated Care System Academy at the University of Suffolk

Safeguard more than 2,900 jobs

Great Yarmouth seafront regeneration

Unlock a further £85m of private and public sector investment

Development of the Food Innovation Centre, Broadland

Assist more than 500 new learners

Operations and Maintenance Campus, Great Yarmouth

Deliver more than 1,000 new superfast broadband connections

North Walsham Town Centre Revitalisation

Under the criteria set, projects had to be deliverable within 18 months and linked with the region’s Economic Strategy, Economic Recovery Restart Plan, and the Government’s Recovery Plan. They also need to deliver clear economic outputs, such as jobs, housing, or apprenticeships.

Extending ultra-fast broadband infrastructure in Norfolk

Doug Field, chair of New Anglia LEP, said: “These projects will help us deliver on our ambitions to be a fantastic place to live, work and learn.

Over 300 successful projects in England will receive a share of the £900m Getting Building Fund, which was announced by the Prime Minister in June, to invest in shovel-ready housing and infrastructure projects, creating jobs and supporting economic recovery across the country.

“From providing new community facilities and training centres to redeveloping our town centres and supporting our key sectors, the projects will

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accelerate local growth and support our economic recovery.

Enterprise Zone Accelerator Fund Extension to New Anglia LEP’s Business Resilience and Recovery Scheme


HEAD LIN E NEWS

Ne w A ng li a L E P

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W E LLB E I N G Ma S T

WHY MENTAL HEALTH AND WELLBEING MATTERS POST-COVID As we gradually begin to adapt to the ‘new normal’, the mental health impact of the COVID-19 pandemic is beginning to emerge in new evidence.

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ollowing the launch of their new course, MaST Evolution, an immersive e-learning specialist, have highlighted that many employees will be suffering from a lower mental wellbeing as the return to the workplace.

MAST www.mast.co.uk

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Reports from the Office of National Statistics (ONS) show that more than two-thirds of adults in the UK (69%) reported feeling somewhat or very worried about the effect COVID-19 is having on their life, with the most common issues being worry about the future (63%), stress or anxiety (56%) and boredom (49%).

of how to manage wellbeing in the workplace, including self-care and how to support others when you first notice a need. MaST’s instructor-led mental health and wellbeing course has been developed using engaging visual collateral to provide trainers with the materials they need to add immersive understanding of and insight into the issues in the workplace that can damage wellbeing.

It is important for employers to review and adapt measures to support employees experiencing a poorer wellbeing because of COVID-19.

By developing an understanding of mental health issues and how to create a sense of wellbeing, employers can counter the reduced confidence, capacity and productivity that comes from workplace stress.

All employers have a duty to protect the health, safety, and welfare of their employees, including mental health and wellbeing. It is important for employers to review and adapt measures to support employees experiencing a poorer wellbeing because of COVID-19.

In situations where employees need support beyond a good listener, it essential for employers to be aware of where to signpost individuals experiencing a higher severity of mental ill-health.

It is well-documented that employees often do not feel comfortable in speaking up about poor mental health - this is where training plays a crucial role. Employers should look to increase awareness

To learn more about MaST Evolution’s instructor-led e-learning, contact peoplesolutions@mast.co.uk or visit https://mast.criticalcinema.co.uk/ store/885714-mental-health-wellbeing-ilt


WELLBEI NG MaS T

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LEGAL Pa l adi n

ARE YOU A SHAREHOLDER? THEN YOU NEED A SHAREHOLDERS AGREEMENT. NEIL ASHLEY OF PALADIN EXPLAINS WHY When you first set up a limited company, it will invariably be purchased “off the shelf” with a ready-made set of ‘articles’. The articles are the constitution of the company.

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hey will either be the standard form ‘model’ articles published from time to time pursuant to the Companies Acts, or a version of those articles as modified by a third party – usually the incorporation company through which you purchased the company, or possibly your accountant or other advisor.

provisions regarding shares and distribution of any profits; and a few administrative provisions. It is no business of the Companies Acts (pardon the pun) to be concerned as to whether you can operate the company strategically, favour particular shareholders or indeed resolve the myriad of problems and disputes which might arise.

Perhaps unsurprisingly, the model articles are basic. Moreover, they are limited to the essential items of governance and functionality which are regarded by the law as prerequisite for operating a company. These are: the creation of shareholders and directors; the respective powers, responsibilities and decision-making of directors and shareholders; basic

A shareholder agreement (“SHA”) is a contract between the shareholders – and often, although not necessarily – the company itself. Unlike the articles, which are a public document available for scrutiny on Companies House, this is a private document between the shareholders only. It sets out the rights


L EGAL Pa l adi n

and responsibilities of the shareholders and, subject to some fundamentals, can be drawn-up in whichever way the shareholders wish. It is usually within the SHA that the shareholders, if they are sensible, make provision for a number of issues which the model articles say nothing about. If any of these issues might be important to your company one day, you should have an SHA and a set of articles which complement it. Ultimate control – Articles can generally be amended by special resolution (75% or more of the members who are present and vote at a general meeting). An SHA can require a “super-majority” for approval of certain important decisions. That super-majority can be calculated to ensure that control vests (or indeed doesn’t vest) in a relevant proportion of the total shareholders, or even that 100% approval is required. A supremacy clause can then ensure that in the event of a conflict, the SHA overrides the articles. Board control – An SHA will usually make provision for the number and make up of the board directors, often providing shareholders with a right to appoint a certain number of directors to the board. This is key in ensuring that a shareholder has some day to day influence over the company.

a transaction on the same terms where a majority shareholder is selling their stake. Information – What rights do shareholders have by default to company information? Very little, and only on an annual basis. An SHA can ensure that shareholders get the information they require at the frequency they require. Confidentiality and restrictive covenants – Shareholders will often have access to confidential information and trade secrets. Without an SHA, the company and other shareholders will have to rely on the basic common law obligations in relation to these important issues. However, an SHA can restrain the shareholders in whichever way the shareholders, including preventing them from working or dealing with competitors in the future. Deadlock – Sometimes shareholders will reach an impasse on an issue and be unable to proceed, potentially threatening the very existence of the company. An SHA can ensure that there is a mechanism for resolving such disputes which will allow the company to move forward. This may include a put option (entitling a shareholder to sell their shares by a pre-determined formula) or a call option (entitling shareholders to compel a shareholder to sell their shares) or even a shotgun clause (a mandatory scheme which operates either to force a shareholder to sell their shares or to buy out the offeror at a price determined by the offeror).

It is often the case that the first time a shareholder reads a company’s articles is when a serious problem arises, by which time it is invariably too late to avoid either serious prejudice or an expensive dispute.

Share transfers – An SHA can make provision for permitted transfers (shareholders having the right to transfer existing shares to others, often for tax advantageous reasons); voluntary transfers (how shareholders will be permitted to dispose of their shares); and automatic transfers (the circumstances in which shares will be forcibly removed, such as in the event of a shareholder breaching a duty to the company or harming its interests).

Transfer restrictions – An SHA can give the shareholders greater control over each other, as well as protection from undesirable third parties becoming involved in the company. A Buyback right will enable the company to have the exclusive right to buy its shares back in the event of a transfer situation arising. A right of first refusal will allow remaining shareholders to have first refusal, usually in proportion to their existing shareholding, of shares which are being offered for transfer. Drag and tag provisions – Imagine a majority shareholder wishes to sell their shares to a third party, but the buyer insists on acquiring 100% - otherwise the deal will fall through. Drag provisions enable the majority to force minority shareholders to sell under the same terms and conditions. Conversely, Tag provisions ensure that minority shareholders can join

PALADIN Paladin-knight.co.uk

Anti-dilution provisions – Without an SHA, shareholders are vulnerable to dilution of their interest upon the issuing of new shares – either in terms of their relative ownership compared to others (% dilution) or in terms of value (economic dilution). Rights of pre-emption entitle shareholders to acquire new issued shares on a pro-rata basis in order to maintain their proportional ownership of shares. Full-ratchet and weighted-average provisions allow shareholders to retain their economic standing. As can be seen, the absence of a well-drafted SHA means that none of these very real and common situations are catered for. It is often the case that the first time a shareholder reads a company’s articles is when a serious problem arises, by which time it is invariably too late to avoid either serious prejudice or an expensive dispute. Agreeing all of these matters in advance and when relationships are sound is undoubtedly the best approach. Call Paladin on 0345 222 0 111 for advice and assistance with all shareholder and boardroom matters.

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Financial support from business lawyers? Unprecedented. There’s a lot of difference between us and most other lawyers. We do our business like businesspeople. As new businesses and new ways of working are emerging from the ‘lockdown’ we are here to support those businesses with everything from incorporation, through merger and acquisition, to sale. And we’ve adjusted our fees to support struggling local businesses who need us. Just tell us what terms you need and if we can help, we will. After all, we’re all in this together. We’re THE lawyers for local business. In these unprecedented times, we can help. Commercial law | Employment law | Shareholder disputes | Intellectual property HR consultancy | Investigation services | Mediation | Data and Privacy

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E: enquiries@paladin-knight.co.uk T: 0345 222 0111

Paladin-knight.co.uk


BU SIN ESS RECOVERY Ne w A ng li a L E P

BUSINESS VIRTUAL RECOVERY FESTIVAL FOR NORFOLK AND SUFFOLK A virtual business recovery festival will provide two days of free training, workshops, panel discussions and advice sessions to help Norfolk and Suffolk’s businesses restart after the Covid-19 lockdown.

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ESTART, on 29 and 30 September, will be free for any business or organisation to join. With two live streams on each day, the festival programme is packed with opportunities to learn something new, share ideas, get practical support and hear from a wide range of speakers. Organised by New Anglia Local Enterprise Partnership, with support from the team behind the Norfolk Enterprise Festival, the RESTART business recovery festival builds on the two-county Economic Recovery Restart Plan which was launched at the end of June. Confirmed sessions include: Business grants and funding Life after furlough – what next for your employees? Top tips for marketing to new customers, including social media, video and copywriting

Making your business greener – how to assess and lower your environmental impact Upskilling your workforce Chris Starkie, Chief Executive of New Anglia Local Enterprise Partnership, said: “We’re committed to supporting local businesses to get back on their feet after some of the toughest months they will ever have faced. “Bringing together local partners and businesses to create two days of inspiring, exciting and practical sessions - hosted virtually and free for any business to watch – will help us to kickstart our recovery and give business owners the ideas, confidence and support they need to come back stronger.”

NEW ANGLIA LEP www.newanglia.co.uk

To sign up for a free place, simply visit https:// newanglia.co.uk/restart-festival/ and complete the contact form to receive updates and links to the live streams.

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BE E VE RYW H ER E D i g i t a l Ma r ke t i ng

BREAK THROUGH THE NOISE Digital marketing shouldn’t be scary. At Be Everywhere, we understand how complex today’s marketing landscape is portrayed, which is why we thrive on helping our customers to find their digital voice.

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ur services provide an effective solution to growing your brand online, helping you to reach and engage with audiences both genuine and relevant to your business.

Strategy

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We help you to directly reach and engage with your target audience and customers through email marketing campaigns, that are both tactical and GDPR compliant

By thoroughly profiling your business, we implement a bespoke digital marketing strategy, clarifying the objectives, messaging, channels and audiences of your campaign.

Analytics

Social Media

"Working with Be Everywhere has assisted us in taking a more strategic and holistic approach to communications across our social media channels."

Across a range of social media channels, we strategically help your brand to promote itself and build engagement, influence and trust with relevant audiences.

Design We create eye-catching visual campaigns consistent with your branding to help you stand out from the crowd and from your competitors and build memorable brand awareness.

Content Marketing From social media messaging to blogging and press releases, we replicate your brands tone of voice and research your industry to create compelling and targeted content.

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Email Marketing

From content performance to audience and engagement, our analytics give you and your business a deeper insight into your activity and helps to strategise digital growth.

Testimonials "A testament to a great media package that I can't fault! A heartfelt thanks from my team." "I would happily recommend them to anyone wanting to get more exposure through social media." “They are proactive, full of great creative ideas and are always there when I need them." Let us help your business find its digital voice. Get in touch for an informal and informative chat – info@be-everywhere.co.uk 0191 850 5990 or visit www.be-everywhere.co.uk


Find your digital voice! Engaging your brand with audiences that matter.

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East Anglia in Business 07  

East Anglia in Business is designed to generate collaboration, sustainable growth, competitive advantage and to build links with businesses...

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East Anglia in Business is designed to generate collaboration, sustainable growth, competitive advantage and to build links with businesses...

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