Sussex Business Times October 2013

SBT

ISSUE 372 FREE

SUSSEX BUSINESS TIMES

PLUS

FINANCE: ARE INTEREST RATES BEST BEING KEPT LOW?

PAGE 25

NATWEST: COMMERCIAL FUNDING GUIDE PAGE 30

SBT ROUND TABLE

REVIEW OF THE VAUXHALL AMPERA AND THE BMW Z4

PAGE 52

Sussex experts meet to discuss real issues faced by businesses in the county PAGE 42

EXECUTIVE EDUCATION WITH AN OUTDOORS TWIST Learn, change and grow your business skills with Chilgrove Learning & Development PAGE12

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When it comes to Mercedes-Benz, Lookers Mercedes-Benz are the business.

Excellence redefined with these exclusive spring offers.

At Lookers Mercedes-Benz, we pride ourselves on putting you first. It’s a philosophy which has seen us win awards in the past and means that we continually improve the services we offer to the public and to other local businesses.

Being part of Lookers plc, one of the largest motor retail groups in the UK with retailers spanning across the country in England, Scotland, Wales and Northern Ireland, has enabled us to develop our unique state of the art, 250 vehicle, pre-delivery inspection centre, so you can be assured your new purchase is of the very highest quality.

From vehicle funding through to fleet management, you will have the peace of mind that we can provide you with the most efficient and economical service in the area. We have local expertly trained Business Managers on site who strive for perfection and will tailor any financial requirements you may have specifically to meet your needs.

We are sure you can experience the luxury of a Mercedes-Benz for significantly less than what you may think this spring with Lookers Mercedes-Benz.

See overleaf for a selection of our fantastic business user offers available this spring.

Call one of our retailers today on 0844 947 3649 to book a test drive in any of these models.

Lookers plc Mercedes-Benz of Brighton Victoria Road, Portslade, Brighton BN41 1DY

Mercedes-Benz of Eastbourne Eastbourne Road, Westham, East Sussex BN24 5NH

Mercedes-Benz of Gatwick County Oak Way, Crawley, West Sussex RH11 7ST

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Official government fuel consumption figures in mpg (litres per 100km) for the Mercedes-Benz range: urban 13.0(21.7)-68.9(4.1), extr

Business Users only. Advance payment applies. All payments subject to VAT: Finance based on a Contract Hire agreement, 10,000 miles per annum. Excess mileage charges may apply. Rental includes Road Fund Licence for the contract duration (6 months+35 months for all models excluding G-Clas 2013. Subject to availability, offers cannot be used in conjunction with any other. Some combinations of features/options may not be available. Credit provided subject to status by Mercedes-Benz Financial Services UK Limited, MK15 8BA. †Based on an A-Class manual. Prices subject to change. You

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s.

Head turning style and luxurious comfort.

The New Mercedes-Benz E-Class makes the ultimate business statement.

New Model

E-Class Saloon.

E-Class

From just

£339 Per Month*

New Model

E-Class Estate.

From just

£349 Per Month*

E-Class

Or simply visit www.leaseamercedesbenz.co.uk for more information.

Mercedes-Benz of Redhill 12 Brighton Road, Redhill, Surrey RH1 6QL www.leaseamercedesbenz.co.uk

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9(4.1), extra urban 23.9(11.8)-85.6(3.3), combined 19.8(14.3)-74.3(3.8). CO2 emissions 334-98 g/km.

odels excluding G-Class – 3 months +35 months). Guarantees and indemnities may be required. Orders/credit approved between 1 April and 30 June 2013 and registered by 30 September s subject to change. You are receiving this e-mail as you have previously agreed to receive emails from Lookers Mercedes-Benz.

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Small enough to care, yet large enough to cope We understand how lonely it can be to run a business.

So we’re here to support you and make your life easier by taking care of your financial matters, leaving you to do what you do best.

Moore Stephens Chartered Accountants

City Gates, 2-4 Southgate, Chichester

For a friendly, no obligation meeting, call us today.

T 01243 531 600

Working with you, not just your business

www.moorestephens.co.uk/south

4 www.sussexbusinesstimes.co.uk Moore Stephens (South) LLP are registered to carry out audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England & Wales.

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SBT Welcome MEET THE TEAM

Lee Mansfield, Managing Director/ Publisher

Laura Knight, Editorial

Lottie Dowdeswell, Commercial Business Manager

Graham Carn, Financial Editor

Maarten Hoffmann, Features Editor

Tim Cobb, Contributing Feature Writer

“Although the politicians will claim the praise, hard-working SME’s account for a 30% increase in productivity”

With the sad exit of summer, the nation’s normal stance would be one of dread about the coming winter, but this year there is a definite buzz in the air – an air of expectation, one might say.

Economically, we have been in the doldrums since 2008, faced with a debt mountain the size of Kilimanjaro and frenzied media speculation that the worst was yet to come and yet here we are, facing a new dawn of recovery and not just the proverbial ‘green shoots’ but real tangible recovery. Let us not forget that it is British business that turned this around, with hard graft and a resilient attitude, even in the face of savage cuts and an ever increasing regulatory burden. Although politicians will claim the praise, hard-working SME’s account for a 30% increase in productivity, increased employment and an entrepreneurial flair that puts much of Europe to shame.

In Sussex, we are performing as well, if not better, than many other regions with positivity brimming at almost every level but there is a way to go yet and no better source of information than SBT. This month we bring you the all-important NatWest commercial funding guide, offering Sussex companies all the information needed to locate the best deal at the best rate and with NatWest’s help, funding that is affordable and specifically tailored to your business.

We put the banks on the spot with our special Round Table feature, whereby we bring together four leading players from NatWest, Santander, BDO Accountants and our own publisher to get to the bottom of the rumour mill about what the banks are up to. Many of the interesting questions were supplied by the readers of SBT and you might find the responses illuminating, to say the least.

Alongside obtaining funding, how about collecting an award of two in recognition of all that hard slog with the Sussex Business Awards, which this year marks its twenty-fifth anniversary and SBT is delighted to be the sponsor of the Entrepreneur of the Year award, l must say, we are rather spoilt for choice in Sussex.

We focus on the fascinating advent of the virtual PA, with a spotlight on Callisto Associates who are changing the way that business leaders are working by offering PA services supplied in the cloud, with remarkable benefits and cost savings. Might we all be working this way in the future?

Chilgroves Learning and Development demonstrate the benefits of professional training whilst we throw the nose bag on and pop in for a working lunch at Grand Bocca for some much needed Tapas.

SBT brings you all the business news throughout Sussex in our usual concise, accurate and absorbing style – SBT is all you need to stay ahead of the trend.

Maarten Hoffmann, Features Editor

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Contents SBT Issue 372

SBT

ISSUE 372 FREE

SUSSEX BUSINESS TIMES

PLUS

FINANCE: ARE INTEREST RATES BEST BEING KEPT LOW?

PAGE 25

NATWEST: COMMERCIAL FUNDING GUIDE PAGE 30

SBT ROUND TABLE

REVIEW OF THE VAUXHALL AMPERA AND THE BMW Z4

PAGE 52

Sussex experts meet to discuss real issues faced by businesses in the county PAGE 42

EXECUTIVE EDUCATION WITH AN OUTDOORS TWIST Learn, change and grow your business skills with Chilgrove Learning & Development PAGE12

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Chilgroves Learning & Development www.chilgrovelearning.co.uk

Sussex Business Times Managing Director/Publisher: Lee Mansfield lee@lifemediagroup.co.uk Commercial Director: Simon Skinner simon@lifemediagroup.co.uk Commercial Business Manager: Lottie Dowdeswell lottie@sussexbusinesstimes.co.uk Features Editor: Maarten Hoffmann sbteditorial@gmail.com Financial Editor Graham Carn Editorial Laura Knight laura@lifemediagroup.co.uk Subscriptions subs@lifemediagroup.co.uk Design: Harriet Weston harriet@lifemediagroup.co.uk Media Director Linda Grace linda@lifemediagroup.co.uk Accounts: Clare Fermor/Amelia Wellings clare@lifemediagroup.co.uk amelia@lifemediagroup.co.uk Published by LMG SE LTD Park View House 19 The Avenue, Eastbourne, East Sussex BN21 3YD 01323 411 601 Printed by Gemini Press, Shoreham-by-Sea, West Sussex, BN43 6NZ All material in this publication is strictly copyright and all rights reserved. Reproduction without permission is prohibited. The views expressed in Sussex Business Times Magazine do not necessarily represent the view of Life Media Group LTD. Every care is taken in compiling the contents but the publishers of Sussex Business Times Magazine assume no responsibility for any damage, loss or injury arising from the participation in any offers, competitions or advertisement contained within Sussex Business Times Magazine. All prices featured in Sussex Business Times Magazine are correct at the time of going to press.

Copyright Life Media Group LTD 2013 ©

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Welcome

Roll up roll up for another great issue of SBT – your essential guide to business brilliance in Sussex

Spending It! Must-have equipment, innovative gadgetry and cool toys for the Sussex professional

Chilgroves Learning & Development Training doesn’t have to be boring and at Chilgrove L&D their experiential approach ensures that it isn’t

Start-ups The spotlight is on Callisto Associates who are changing the way that business leaders are working by offering PA services supplied in the cloud

Working Lunch SBT stops by Grand Bocca, the new Spanish culinary haunt, in Eastbourne’s fashionable Meads area

Sussex Business Awards 2013 2013 marks its twenty-fifth anniversary and Sussex Business Times is delighted to sponsor the search for the Entrepreneur of the Year

Finance New forward planning statement pledges low interest rates for possibly three more years - is this good news or should interest rates be rising now?

NatWest Commercial Funding Guide Definitive Guide to Commercial Lending in Sussex

Round Table Sussex experts meet to discuss real issues faced by businesses in the county. First on the agenda is the topic of lending

Motoring Up close and personal with the Vauxhall Ampera and the BMW Z4

SBT Ask the Experts Your questioned answered by those in the know locally

Made In Susex Retriever Web Solutions: What exactly is meant by Digital Marketing, and why is it suddenly so important?

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DSSUS

DESiGN DESiGN STATEMENT STATEMENT

Design Statement is a brand new Whether it’s Recline Personal, Our partners include; And So bespoke showroom opening in Run Personal or Kinesis To Bed, Dave Franklin Interiors, BESpokEStone INTErIorS AND WEllNESS Handcross this month, offering Personal, they make sure all Republic, Edera Furniture, a personal and unique service. of their equipment is designed Aneesi towelling goods, Prestige Situated between London and with innovation and social Saunas, Alegna Baths, C P Hart, Brighton it is the place to go, to responsibility in mind.

Technogym, soft furnishings make a statement in your home. from Pickwell Studios, Channel Technogym is proud to be part Glazing, Scotframe, and We can offer you a key to of a movement that invests TempleSpa. luxury living, with exclusive in health for everyone and products, fixtures and fittings all promotes a better quality of Technogym is one of our partner life. Technogym firmly believes immaculately presented by our companies featuring state of the that the greater the number partners for you to view and feel art gym equipment. Technogym of people participating in the in the showroom. has always based its philosophy Wellness movement, the better upon a deep commitment to the world will be. It pays to be Design Statement offers you a the concepts of Wellness. healthy. one-stop design service where style, functionality and attention to detail are second to none.

Design Statement Mid Sussex House High Street Handcross RH17 6BW

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www.design-statement.co.uk facebook.com/designstatement @d3signstatement info@design-statement.co.uk 01444 401873 www.sussexbusinesstimes.co.uk 7

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R.T.Page

RT P

w a re h o u s i n g & l o g i s t i c s m a n a g e m e n t Come Seemeet us us at:at: The Business Start Kent 2020 show up Show 28th Stand -495 29thdo November, Let’s Business Brighton Olympia Stand 30 London

Warehousing & Distribution Services

At our modern purpose built warehousing facility in Sussex we offer highly flexible warehouse services to provide a cheaper storage solution for your business.

BENEFIT FROM: ✔ Over 70,000 sq ft of warehouse storage ✔ Flexible storage space, from 1 pallet to 3000 or more ✔ No lengthy contracts ✔ Trained, fully managed warehouse staff ✔ Over 50 years experience in logistics ✔ Just storage or complete 3PL to suit your needs.

•

•

•

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•

RT Page offers a complete 3PL (third party logistics) service to all online ecommerce retailers, whether you are a start-up business or a long established company we can adapt our service to your requirements.

RT Page brings over 50 years of experience, knowledge and expertise to provide a flexible warehousing and logistics service which delivers safely and on time to your customers. Our tailored service reduces your costs, improves the efficiency of your supply chain and contributes to your business’ profitability.

From our purpose built warehouses based in Sussex we can offer a flexible outsourced warehouse solution to suit the needs of your business and your budget. Whether you’re a start-up business looking for a single pallet or an ecommerce company looking for an entire pick and pack 3PL service we offer a smooth, efficient service that integrates effortlessly with your operations. Rest assured in the knowledge that your goods are being kept safe with secure storage and an expert team on hand.

To find out more about our services call us now on

01903 736300 or email info@rtpage.co.uk www.rtpage.co.uk

RT P

R.T.Page

w a re h o u s i n g & l o g i s t i c s m a n a g e m e n t

See us at:

Kent 2020 show Stand 495 Let’s do Business Brighton Stand 30

Delicious Restaurant Quality Sauces for Home

Warehousing & Distribution Services

The Curry Sauce Company produces a range of superb curry sauces that are ready prepared and so offer wonderful convenience. At the same time however, the sauces are so gorgeous that they allow you to prepare a meal in minutes every bit as good as you would expect from your favourite restaurant.

At our modern purpose built warehousing facility in Sussex we offer highly flexible warehouse services to provide a cheaper storage solution for your business.

Our sauces, naan breads and chutneys are stocked nationwide by fine food retailers such as Delicatessens, Farm Shops and quality Butchers.

Meanwhile we offer a Mail Order service ensuring delivery of your favourite curries to your home or place of work.

To find out more about our services call us now on

BENEFIT FROM: ✔ Over 70,000 sq ft of warehouse storage ✔ Flexible storage space, from 1 pallet to 3000 or more ✔ No lengthy contracts ✔ Trained, fully managed warehouse staff ✔ Over 50 years experience in logistics ✔ Just storage or complete 3PL to suit your needs.

01903 736300 or email info@rtpage.co.uk www.rtpage.co.uk

Browse and place your order through the website at www.currysauce.co.uk or telephone 01243 550045 and we will process your8order for you. www.sussexbusinesstimes.co.uk

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Gadgets

Gadgets & Goodies Must-have equipment, innovative gadgetry and cool toys for the Sussex professional

CAMERA PHABLET The FONE 570Q Phablet features a stunning 5.7inch IPS screen, DUAL SIM support and super fast Quad Core processing.

The FONE 570Q is a DUAL SIM Smartphone which means it will support two simultaneous SIM cards without the need for an adaptor. This essentially allows the use of two services (from different providers if you so wish) without the need to carry two phones at the same time.

GOCLEVER, £249.99. www.goclever.com

Small and sleek, the Y-cam Cube HD 1080 offers exceptional 1080p video quality whilst blending harmoniously into its surroundings, whether at home or in the office. Offering powerful, market-leading night vision and enhanced by automatic IR cut filter operation, it provides uncompromising colour and picture quality, day or night. £250. www.y-cam.com

SCAN-TO-PAY Get paid faster. It really couldn’t be easier for your customers to pay you with Zapper’s Scan-to-Pay. All they have to do is point and Zap! Bill paid! Place the Scan-to-Pay QR Code anywhere - in emailed PDF bills or printed invoices. Customers scan the QR Code and you’re paid in seconds. Payments are effortless, so your customers spend more. And you spend less time taking payments and chasing up invoices. Cash flow improves, sales increase and customers enjoy buying from you. www.zapper.com

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BAG A great way of organising t-shirts, shorts and other smaller items when travelling. Made from lightweight ripstop fabric, they come in a range of sizes and can be colour-coded so it easy to locate everything and are great for multiple trips.

Eagle Creek, from £11. www.eaglecreek.com

MUG

BOOK ENDS Add instant charm to you bookshelf or desk with these fabulous car bookends by Flamant.

Crafted from brass with an aluminium finish, these bookends feature classic racing cars on each ends, vintage in style and quirky in design. Flamant, £49. www.amara.com

MOBILE DATA

Drink spills are a hazard for keyboards with few recovering from a dowsing, so with this in mind please welcome the world’s first unspillable mug. The Mighty Mug is powered by ‘Smartgrip technology’ which means it will not tumble in the first place and can be lifted effortlessly without the need for any gimmicky buttons or levers. £20. www.onlinekitchenware.co.uk

Globalgig now brings customers global ‘go roaming’ mobile data from an extraordinary price of 2p per MB in 40 countries. Globalgig’s international Wi-Fi device and SIM-only service operates in 40 countries including key holiday and travel destinations such as, Spain, Italy, Portugal and France – all with absolutely NO roaming charges. uk.globalgig.com

ADAPTOR A handy travel device that offers four different plug configurations in one unit.

It works in 150 countries. The adapter can be used with a range of devices including: laptops, MP3 players, digital cameras, mobile phones, PDA’s, travel speakers etc and comes in a protective ballistic nylon pouch. Tumi, £75. www.tumi.com

HODALL The medium Aztec Crazyhorse travel holdall in tough Fullgrain hide caters for the weekend visitor who travels fairly light or the overnight traveller with a varied schedule. A versatile favourite. £599.00. www.humphreysofhenley.co.uk

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Gadgets

TIE CASE MONITOR The BenQ BL2411PT professional monitor is tailor made to meet the exceptional screen performance and superb user experience. Ambient light levels are automatically detected to help adjust the monitor brightness throughout the day for optimised clarity and viewing comfort and the Smart Reminder gently reminds users to take a break in a predefined time interval.

BenQ, £250. www.benq.co.uk

This beautifully made, leather Tie Case fits a single tie which gets rolled up so it is uncreased when you arrive or return home - saving on the dry cleaning bills, as well as making sure you always looks your best. The Tie Case is made from leather and has a stainless steel, magnetic closer and is presented in an elegant gift box.

The Great Gift Company, £21. www.thegreatgiftcompany.com

BAG Gate8 is a clever new range of patent protected cabin luggage that meets the hand baggage criteria of ALL airlines. It offers a stylish and practical way to carry laptops, tablets and accessories. Saving busy businessmen time, money and frustration. Gate8, £149. www.gate8-luggage.co.uk

PHONE Play your favourite games, watch HD-quality videos — simultaneously!

With fast web browsing and superresponsive apps so that enjoying the things you love to do has never been easier. Prestigio, £199.99. www.prestigio.com

MOUSE Control your PC or Mac on your desk or in the air from up to 100 feet away with just the wave of your hand. Harness the power of motionsensing mouse technology to deliver presentations, browse the Internet and more-all from across the room.

Gyration, £89.99. www.gyration.com

KEYBOARD Protect your iPad in style with a super thin screen cover for wherever you go.

Add a Bluetooth® wireless keyboard and you’re always ready to type with precision. A stylish, ultrathin aluminium screen cover that feels great and looks even better. In fact, it fits your tablet so seamlessly that you can hardly tell them apart. Logitech, £89.99. www.logitech.com

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Executive Education with an Outdoors Twist Training doesn’t have to be boring and at Chilgrove L&D their experiential approach ensures that it isn’t Walking over hot coals is something that senior managers Profile and business leaders do on a regular basis.

And that’s exactly what you get at Chilgrove Learning & Development.

Their courses and programmes are all designed to combine classroom based learning with outdoor activities and experiences to support their “learning by doing” ethos and to ensure that never again does training have to be boring. And walking over hot coals is just one of the things you and your team could be doing.

A new type of executive education provider, Chilgrove specialise in experiential learning and development programmes for anyone involved in leadership, management and development of their business and the people within it.

Set in the beautiful West Sussex countryside, Chilgrove use traditional fact-based teaching and take it outside, making the best use of the countryside surroundings and giving clients a

different experience of learning and development.

All Chilgrove courses feature some form of experiential element, from orienteering, to blindfolded 4x4 driving, to compelling accounts of Everest climbs, to glass and fire walking (or you can break a wooden board with your bare hands).

And not only do these experiences have the potential to create a lasting and powerful impact on anyone who participates, but they all support the learning objectives of the courses.

Chilgrove MD, Philip Renwick, says, “At Chilgrove we see Learning & Development as more than just going on a training course. For us, it is about the experience of coming to Chilgrove and the learning, memories and experience you then take away with you. Leaving the office for a day or two to hear what some of the best tutors in their fields have to impart, in an environment designed to relax and refresh, whilst coming away from an experience that can be powerful, memorable and long-lasting is what Chilgrove is all about.”

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Business ProďŹ le

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“The course covered the subject very well. Ample course literature was provided and the classroom and facilities were excellent.”

Chilgrove is working with, amongst others, businesses that are looking to develop leadership skills within their talent pool, increase sales performance and results and win more business, provide managers with improved communication and strategic skills and awareness, or are going through significant change and need to manage the challenges that arise from situations such as mergers, take overs, organisational restructuring, leadership changes and more.

And as well as a range of set courses, they are able to address individual business needs by tailoring programmes designed to overcome specific challenges.

Current Chilgrove courses include topics such as leadership, change management, advanced sales and negotiation skills, political savvy in the business environment, strategic planning, performance management, the Chilgrove Mini MBA and team cohesion and performance.

In fact, Chilgrove also offer

teambuilding and corporate activity days both at their venue in West Sussex and at other venues across South and Central England. They can provide daytime and evening events designed to improve team cohesion, communication, collaboration and motivation or just as a reward to staff for a job well done.

Their purpose-built venue is ideally placed for businesses in the local or regional area, as well as those based in London. With excellent travel connections including train lines from Victoria and Waterloo, just 15-30 minutes from the A3 and the M25, and approximately an hour from both Gatwick and Heathrow airports, Chilgrove is that rare combination of the easily accessible and sufficiently secluded.

For more information call: 01243 766 700 or visit: www.chilgrovelearning.co.uk Follow us on twitter @ChilgroveLD

Current courses and programmes offered

by Chilgrove • The Chilgrove Mini MBA • Team Cohesion in Times of Change • Strategic Planning • Corporate Orienteering • Performance Management • Advanced Selling Skills • Leading Effective Teams • Political Savvy • Understanding Myself & Others • Leading The Team • Managing Change

Chilgrove also offer tailored solutions for your specific business needs and challenges.

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Business Profile

Who could tell you about Chilgrove better than a client who’s been there for a course?

We asked a leading international claims and assistance company, who visited earlier this year for a one-day tailored training programme specifically designed for their senior management team what they thought of the experience.

The decision to use Chilgrove Learning & Development was based on location, content and their ability to be flexible in recognising their client’s specific business needs and translating those into a useful course for their employees, with measurable and practical outcomes.

“The location was convenient”, said their Sales & Marketing Director. Feedback from the client was that they met their brief and objectives very well especially as they had fairly precise requirements and limited time available.

All aspects of the day went extremely well, they said, and the setting, facilities, catering and overall administration all made for a very relaxed and productive day.

Specific feedback from the participants included comments on how well structured the programme was and that the course tutor made the course interesting, engaging and effective.

Everyone in their team said they had been looking forward to the course and found it useful.

This was naturally at varying levels as they were learning skills for the first time and for others, it was a useful refresher.

One overarching outcome of the training programme was the value of taking time together for strategic thinking and discussion, facilitated by the techniques learned on the course – everybody took some valuable learning away from the experience with them.

In conclusion, Chilgrove’s client said their experience was a very positive one and they would recommend them to others based on their experience.

Ian Fle Susse

“A really useful day both from a learning and team building perspective. Great setting and nice lunch too! Thanks.”

Chilgrove Learning & Development are based in their own state-ofthe-art, environmentally friendly venue with the following features: • Set in the beautiful West Sussex countryside for a relaxing and refreshing experience • Environmentally friendly producing up 30KWs of energy through solar panelling • MVHR “fresh air” ventilation system bringing the countryside inside • Light, airy rooms with inspiring views • Full disabled access including stair lift • On-site parking and cycle park • Excellent transport links: London Victoria, Waterloo, A3, M25, Gatwick and Heathrow • Just 10 minutes from Chichester city centre • Local inn and restaurant less than one mile away

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Callisto Associates

So many aspects of business are becoming remotely controlled with the rapid march of technology and it looks like traditional staff might be going the same way if Callisto Associates get their way

Virtual business sounds a little like the unrealistic thoughts of Profile a failed entrepreneur but in fact this is a rapidly growing sector that few of us thought we needed. Much like the i-pad and cloud computing, virtual business support is one of those things that no one thought was needed until we started to utilise it, and then we found out that we couldn’t do without it.

Callisto Associates is the trail blazer within Sussex in the supply of remote business support whereby senior Directors and business owners outsource their PA services. Callisto has even renamed the PA and we must now consider them to be an Associate in an attempt to break the desk bound stereotype. The benefits are obvious – no sick pay, no PAYE, no medical insurance, no pension, no employment tribunals and no holiday pay. In addition, no funding of an office, computer or mobile phone and one must presume there to be a considerable saving in coffee and hobnobs.

Callisto was founded in 2011 by former high flying PA Sophia Lee-Spencer, who accepts that the challenge lies in changing mind-sets away from viewing a PA or secretary as someone who

“One of the biggest stumbling blocks is opening people’s minds to the benefits of virtual business support” ‘does the typing and makes the tea’ and must be based in the building, and re-educating people to view them instead as the real business asset that they are.

It’s accepted practice to outsource your finances to an accountant and your legal issues to a lawyer, so she is working to reposition the role of a PA in people’s minds to an equally valuable professional resource. One of the biggest stumbling blocks is opening people’s minds to the benefits of virtual business support. It’s still an unusual way of working and many people are resistant to change, they also fear a lack of control – if they can’t see their PA how do they know she’s really doing their work? A top class PA or Management Assistant is usually degree educated, or at least highly experienced, exceptionally efficient, often bilingual, has buckets of initiative, and is almost always undervalued. Even in the largest corporations, they are rarely given the challenge they require to really thrive in a fulfilling career.

The Callisto way of working changes all this. Sophia’s vision is to take the ‘PA’

out of the office, exploit all their skills to the fullest extent and really utilise their ability to prioritise, multi-task, organise and communicate. In her experience, one Associate is more than capable of supporting more than one Executive at a time as she regularly work on six separate accounts in one day – meaning that a salary is spread over several clients, each of whom pays only for the support they actually need. In fact, they get the benefit of a £40,000 a year Associate for a fraction of the cost.

Of course it’s about building trust as well. A really good PA should become completely embedded in the organisation they support and in most aspects of their client’s life which means a certain leap of faith on the client’s part – especially for those who have not worked with a PA before.

Technology has made the role much easier and more flexible. These days you can send text messages with reservation codes, upload travel itineraries to online calendars, book flights, hotels and restaurants over the phone – tip of the

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Start Ups

fingers stuff, all of which means a much better level of customer service. Cloud based programmes like Dropbox mean that files can be shared on the go and accessed from anywhere in the world.

One of her clients regularly rings to request she upload sets of photographs or plans to Dropbox so he can share them with his clients and team on site.

Callisto give their clients access to the skills and services of a top level Management Assistant and qualified Marketing and HR support for a fraction of what it would cost to employ someone full time, in-house (currently around £30 - £40k in the South East). The beauty of the Callisto system is that you only pay for what you need.

Callisto operates from their own fully equipped office with secure information back up, and possess an unrivalled network of contacts across a wide range of industries allowing them to source suppliers and network extremely effectively on their clients’ behalf.

They have also recently launched a ‘Callisto Concierge’ service which supports their customers in the smooth running of their lifestyles; this includes managing annual subscriptions such as gym memberships, car and home insurance renewals, birthday reminders, gift shopping, delivery services, arranging cleaners, restaurant bookings and so forth.

Once Executives get their head round the issue of their PA not being located in the office, there is one further aspect that might tip the balance – it is generally recognised that business owners and the self-employed work longer hours, put in more effort and work much harder to ensure the success of their business than employees, therefore outsourcing ones PA and marketing requirements to a self-employed business owner might well result in increased effort, more work and much longer hours devoted to ensure they retain their client. With so much of today’s business being cloud based and remote technology led, might it be time to recognise that many traditional company roles could also be dealt with remotely and with far more satisfactory and less expensive results?

Case Study by Sophia Lee-Spencer ‘We support two extremely busy Directors through the daily management of their diaries and inboxes, arranging meetings, travel and responding to those emails of a non-urgent or administrative nature, whilst flagging those which require their personal attention. We send emails on their behalf in the style in which they regularly communicate, relieving them of the necessity to respond to emails themselves. We make and receive calls on their behalf and operate a dedicated line so that calls to that number are answered in their company name. In addition we help them to keep on top of any on-going projects and produce and review relevant documentation such as proposals, letters, press releases etc. It is estimated that we free up a minimum of one additional hour each day allowing them to focus on the strategic direction of the business.

Our marketing division can create and administer customer and prospects databases and design and manage email marketing mailshots.

We can help create content, track responses and click through rates and make follow up calls on our clients’ behalf. We have expertise in social media and can assist with creating a compelling content plan for the year ahead. We offer support with writing blogs and shaping strategies for different digital platforms. We have regularly assisted clients with reviewing their LinkedIn profiles to promote themselves more effectively in the marketplace.

Our content creation service covers not only social media but also public relations such as speech writing, presentation preparation and press releases. We have strong links with local radio and newspapers and regularly place articles for our clients.

With over ten years’ experience in organising corporate events, clients can outsource their event requirements to Callisto Associates in the certain knowledge that they will gain the

Sophia Lee-Spencer

“We can help create content, track responses and click through rates and make follow up calls on our clients’ behalf” maximum benefit from the improved client and employee relationships that innovative and professionally managed events can generate. For support with any HR issues we have an HR Associate specialist who is a fully qualified Associate Member of the Chartered Institute of Personnel and Development and has over ten years’ experience in HR, five of which have been in a consultancy environment.

She is available to advise and assist with recruitment, learning and development, employee relations, organisational change, pay and benefits, health and wellbeing and policies and procedures.

Our recent projects have included a 150 delegate business convention featuring speakers from international firms such as Isuzu Trucks and Virgin Atlantic, a 100 delegate annual dinner at an historic London venue, and an Awards event to recognise and reward excellence in the commercial property industry in Sussex’.

Callisto Associates Tel: 01273 957088 Mail: Sophia@callistoassociates.com Web: www.callistoassociates.com

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ADVERTORIAL

Learning with a Passion Studying for a Masters of Business Administration (MBA) changes the way businesses are run, but it also changes the way people think.

Marc Gray earned his MBA from Portsmouth Business School two years ago.

He is now a performance excellence manager for BAE Systems, working in the London headquarters of the multinational company with a turnover of £16bn a year and which employs more than 88,000 people globally.

He found studying for his MBA “exciting, enriching and enjoyable as well as frustrating at times” and said it has changed his life in ways he had not foreseen.

He said: “I am not academicallyminded or even particularly innovative but I do like to explore ideas and concepts and apply these to business situations to improve performance.

The MBA gave me so many models, frameworks and tools to use. By studying for the MBA you are taught to think like a management consultant,

standing back from the issue to analyse the situation and to decide on the best course of action. Studying meant I could tap into new ideas and resources.

“The highlight for me was during the residential to Maastricht. I really enjoyed that trip, it was very rewarding.

We had a guest speaker talking about organisational culture. These were new concepts to me and that opened up a real interest in culture and managing change within organisations. I went on to make that subject central to my dissertation and organisational culture and change is now central to my current role.”

Marc is a performance excellence manager within the section of BAE Systems responsible for managing the company’s real estate. Marc’s role involves ensuring the business delivers its strategy and creates value for BAE Systems and its customers.

When he started working for BAE Systems, he was a business improvement manager in charge of

using and finding ways of using business improvement tools including Lean and Six Sigma to help the company become more efficient and effective.

In 2009 he decided to study for his MBA and chose Portsmouth Business School because its MBA programme is accredited by the Association of MBAs. He said: “Before you sign up to something that is this intensive you look for evidence that you’re making the right decision. The AMBA accreditation made all the difference.

The kitemark is an assurance of quality.” www.port.ac.uk.mba

Show you mean business. Go back to school.

Portsmouth Business School’s Master of Business Administration (MBA) will provide you with the opportunity to develop your strategic problem-solving skills whilst mastering the latest business knowledge and practice: • • • • •

Develop your management abilities Benefit through innovative work-based learning Generous scholarships Taught part-time in two-day blocks over two years Accredited by the Association of MBAs

To find out more about our wide range of degrees, come along to one of our regular open evenings – details of which can be found at www.showyoumeanbusiness.com.

‘The Portsmouth MBA has been a lifechanging experience and one that I wouldn’t have wanted to miss.’

Heather Short, Entrepreneur 18 www.sussexbusinesstimes.co.uk

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For more information or to apply: T: +44 (0)23 9284 4888 E: mba.admissions@ port.ac.uk W: www.port.ac.uk/mba

11/10/2013 14:42

Tried & Tested

Working Lunch

SBT stops by Grand Bocca, the new Spanish culinary haunt, in Eastbourne’s fashionable Meads area

Grand Bocca Eastbourne

Address: 12 Grand Hotel Buildings, Compton Street Eastbourne East Sussex BN21 4EJ Tel: 01323 731662

My first thought was how well thought-out the place was. On a Review hot summer’s day, it was a welcome relief to step into a nice cool restaurant with quiet jazz playing. Whilst it comes heavily recommended, and with quite the wait for a reservation at weekends, Grand Bocca seems to still be something of a hidden gem as far as the lunchtime market is concerned, so it wasn’t too busy when we stopped by.

Intimate and welcoming are words

I can use for Grand Bocca without being euphemistic: it’s small, although you can book for a large-ish group, which would probably mean you had the place to yourselves, depending on numbers. Nobody has to raise their voice to be heard, staff are able to play close attention without crowding you or seeming intrusive, and the atmosphere is one of welcome, of being instantly at home – a rare pleasure when entering an unfamiliar eaterie as new as Grand Bocca.

We could have opted to sit outside, but the midday sun had become a bit much for us, and the cool interior was far more to our taste, as we pondered the menu of tapas and light lunches (a more elaborate menu is served in the evenings).

On strong recommendations from friends, we opted for tapas of plum tomato, baby mozarella and basil chilled soup; ham croquetas with celeriac and a now locally-famous board of Iberico Spanish meats.

A brief chat with head chef and owner Keith reveals that he is about to set up a cooking school, which will educate students in his specialities of tapas, Thai Street food, rustic fish dishes, and so on. Having spent many years in London, working with the likes of Gordon Ramsey and cooking at venues such as The Ivy for countless celebrity clients, Keith’s expertise are bound to be valuable for those who’d like to add a few headline dishes to their repertoire.

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Tried & Tested

“The atmosphere is one of welcome, of being instantly at home – a rare pleasure when entering an unfamiliar eaterie” It strikes us that this would be an excellent team-building outing, and a great experience to enjoy as colleagues once it’s up and running.

We also note Grand Bocca is an excellent place to take a client for an informal lunch or dinner over truly impressive food – in fact, the client we dropped in with enjoyed it so much, she plans to take her family back to the restaurant over the weekend!

In an area previously dominated by hotel restaurants, it’s refreshing to find somewhere dedicated to great food, and reassuring to know that people are investing time, money and effort into the Meads part of Eastbourne. With a local mix of eclectic (mostly independent) shops, the immediate area really has the potential to develop into a very trendy and exciting place to be – Grand Bocca might well be a very important step on this journey.

Grand Bocca, whilst more expensive than grabbing a sandwich, is good value for money and an ideal menu for those who aren’t quite sure what they fancy.

It’s ideal for small groups and informal gatherings, and we can’t wait to be able to replicate the Grand Bocca experience at home… we doubt it would stop us coming back, though!

www.facebook.com/grandbocca

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11/10/2013 14:43

BENENDEN HEALTH RESPONDS TO LABOUR CONFERENCE HEALTH SPEECH Benenden Health responds to speech by Health Secretary Andy Burnham MP at the Labour Party Conference 2013

In his speech at Labour Party Conference 2013, Shadow Minster of State for Health Rt Hon Andy Burnham MP said: “We need to give people a proper choice - Labour for a public NHS against Cameron’s market.”

Benenden Health responded by saying: “We need to give people more of a choice: Labour’s plans for the NHS should make room for mutual organisations that can deliver excellent healthcare outcomes for people while ploughing any surpluses made back into this process.

“Both Labour and the Coalition have talked positively about mutuals and their impact on, and contribution to, society. We know about this at Benenden Health. We are a not-for-profit mutual organisation that has been around since 1905. We work actively alongside the NHS to support our 900,000 members to achieve physical and emotional wellbeing.

“Private and Public aren’t the only options available – mutuals are part of the history of this country and can and should be part of its future.”

Open For Entries Enter online now www.sbawards.org.uk Deadline 30 August 2013 Sponsored By

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11/10/2013 14:43

Have You Got What It Takes to be the Entrepreneur of the Year?

Celebrating excellence across the county, the Sussex Business Awards are the longest established scheme of its kind in the region. 2013 marks its twenty-fifth anniversary and Sussex Business Times is delighted to sponsor the search for the Entrepreneur of the Year.

“I’m certain that adding the title of Entrepreneur of the Year to my email signature has made those I email sit up and take a great deal more attention,” says Kevin Byrne from Checkatrade.com and a previous winner of the coveted title.

The recognition and status of winning such an accolade certainly opens doors. So have you got what it takes?

Let’s look at some previous winners of this much sought after prize.

Last year’s winner was Rob Hill from The Eventa Group, one of the UK’s fastest growing corporate event organisers. Rob honed his skills in accountancy before striking out on his own in 2003 and is very much a self-taught businessman. Today, his group includes Eventa, The Stag Company and Hen Heaven.

Rob’s definition of an entrepreneur is someone who can ‘create something out of nothing’ and he has certainly done just that. He is a proven classic business entrepreneur whose determination and passion has led him to great success. The judges were impressed by his energy, enthusiasm and understanding of how to scale a

“Winning has definitely opened doors for me both personally and for my business. Winning has also been a great personal boost and encouragement to me” - Kevin Byrne, Checkatrade.com

business - key components for great entrepreneurship.

Rob commented recently: “After winning our Sussex Business Award, we saw a real upsurge in business from Sussex-based businesses coming to us to organise their corporate events – around 13% increase so far this year.

We have also received and secured media coverage from TV, radio and newspapers asking for our opinions on related industry issues”.

Sharing the honours with Rob as finalists were Lucy Thomson from Lavant House Stables and Matt Turner form Creative Pod Ltd. Matt also made the finals as Businessperson of the Year.

Three well known faces made the cut in 2011. Kevin Byrne from Checkatrade.com, a previous winner of

the Businessperson of the Year; Gary Peters from BrightonandHoveJobs.com and Philippa Stephen-Martin, Manor of Things.

The winner was Kevin Byrne who set up Checkatrade.com from his garden shed in 1998 to help the British public avoid rogue traders and cowboy builders by providing a free, transparent and impartial directory of trusted tradesmen across the UK. Today Checkatrade.com has grown to employ 110 staff with a turnover in excess of £7.5m. In the past 12 months, Checkatrade.com-certified tradesmen carried out a combined total of £1.4b worth of work, with complaints at just one in 215, compared to the national average of one in four.

Kevin said: “Winning has definitely

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20/09/2013 15:41

Sussex Business Awards

Camilla Stephens, Higgidy Pies

Paul Craig, Bohemia Brighton

opened doors for me both personally and for my business. Winning has also been a great personal boost and encouragement to me.”

In 2010 Camilla Stephens from Higgidy Pies was crowned. Camilla’s big idea was to start a pie company, but when she founded Higgidy ten years ago the most consistent piece of advice she was offered was to outsource manufacture and focus on brandbuilding and marketing.

She had the faith to reject that advice and set about building a highly-successful food manufacturer that values craft and creativity over mechanisation and speed. And in 2009 Paul Craig from Bohemia took the title. Paul is a man of many talents, but it is the way that he has managed to turn so many of them into revenue streams and then vertically link them that particularly impressed the judges. Showtec, his lighting and sound business, supplies his own bars, restaurants and clubs, as well as many others. His property portfolio is profitably leased to other businesses while he retains capital assets.

This year, as well as the Entrepreneur of the Year, there are fifteen trophies up for grabs including the company of the year, international company of the year and awards for responsible business practises and social enterprise.

Peter Field, the Lord Lieutenant of East Sussex takes the Chair for the third time. He comments: “For twenty five

Kevin Byrne, Checkatrade.com

Peter Field, Lord Lieutenant of East Sussex

years the Sussex Business Awards have led the way supporting and showcasing some of the most outstanding successful individuals and businesses in Sussex.

“The awards are a welcome opportunity to see and meet so many inspirational local business entrepreneurs and play a role in determining those individuals and organisations that can only be labelled the ‘Best of Sussex’”.

These Sussex companies have until 9th September to prepare their applications for a chance to triumph at the most prestigious business awards in the county.

This year’s sponsors include Morgan Sindall, Mazars, Legal & General, The Montefiore Hospital, Domestic & General, Morrisons Solicitors, Sussex Innovation Centre, HSBC, Checkaprofessional.com, Sussex Enterprise and Midnight Communications. Media sponsors will

Rob Hill, The Eventa Group

be Heart FM, Sussex Business Times, Absolute Brighton and The Argus.

The cream of the county’s leading business people will gather to see the Awards presented at Brighton Dome on Thursday 5 December. Tickets cost £90 each (+vat) or £850 (+vat) for a table of ten and includes champagne reception, three course meal, two bottles of wine on each table as well as entertainment, dancing and a few surprises - so don’t miss out! Purchase online today at www.sbawards.org.uk.

For more information please contact us on T: 01273 666200 or E: sussex@midnight.co.uk and follow on twitter @SussexBizAwards

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Authorised and regulated by the Solicitors Regulation Authority SRA Number: 511747 24 www.sussexbusinesstimes.co.uk

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11/10/2013 15:24

Finance

Are Interest Rates Best Being Kept Low or Allowed to Rise – Now? The Bank of England’s new forward planning statement pledges low interest rates for possibly three more years - is this good news or should interest rates be rising now?

Mark Carney, the new Governor of the Bank of England, in his much heralded forward statement, appears to have provided good news for SME’s and other borrowers in the UK. The headline grabbing outcome is that interest rates are to stay low for at least an anticipated further three years.

Certainly stability of interest rates, more certainty for budgeting, encouragement to invest, and overheads under control, all sound good, but is it the right thing to be done? Let us look at the positives and the potential pitfalls.

First of all, however, let us get the politics out of the way. The forward statement was accompanied by a set of forecasts that some more cynically minded would say was a form of pay-back by the Governor to George Osborne, the man who appointed him – sweet music for the ears of those advocating government’s economic policy. The housing market is beginning to recover, bank lending picking up before the 2015 election, and best of all growth - anticipated to reach c. 2.4% all significant positive ‘official’ support.

But behind that political headline we need to look at the change in Bank of England emphasis - the ‘promise’ to keep interest rates on hold until

Finance Insight

Mark Carney, Governor of the Bank of England

employment drops from 7.8% to 7%. It looks like a revolution in policy but perhaps it is more a revolution in presentation because has not the Bank’s top priority always been delivering economic recovery and getting unemployment down?

It therefore probably isn’t a big policy change in the end but it is a big change in communication, providing a very specific and clear benchmark for everyone to measure and anticipate against.

This new policy framework unveiled

by Mr Carney, now amounts to a dual mandate for the Old Lady of Threadneedle Street. Up to now, the

Bank’s key focus and monetary policy goal has been portrayed as price stability, defined as a 2% inflation rate.

Alongside this now is the extra burden of financial stability within the economy.

Monetary policy targets have undergone a fundamental shift and the promise in the statement by the Governor not to start raising UK interest rates from their record lows until unemployment has fallen to 7% has shifted the goalposts.

Why? It has been clear for some time that the Monetary Policy Committee has allowed the pace of price rises to overshoot the target, believing that to focus solely on this goal in the shortterm could damage growth to the point

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“The slashing of interest rates to just 0.5% was the right medicine a few years ago – but we are now suffering from an overdose, with too many people addicted to cheap money”

that — in the longer term — inflation could end up undershooting. However, expressly incorporating a jobs target into the remit is another matter and the new framework amounts to a major gear change which has happened with surprising speed and one wonders with how much planning and consultation. It was only in March that the Chancellor asked the Bank to look at unconventional policy tools and, with little public discussion, a major change has been effected.

This change, however providing much more clarity and certainty that interest rates will be kept down for an even longer unprecedented period, has to be good news for existing borrowers and those planning on borrowing, or is it?

What are the concerns?

Bank of England independence The Bank of England was granted its independence in 1997 and some may argue that has now been compromised since the Bank’s new very explicit focus on unemployment ties it to something more easily manipulated by politicians than headline inflation.

For example, the public sector is letting go hundreds of thousands of workers, affecting the unemployment rate. In theory politicians could affect

the Bank’s new target by letting immigration rise, effectively swelling the workforce so the proportion of those unemployed is smaller, thereby lowering the unemployment rate.

Additionally they could move people off the unemployment register onto other benefits and companies could be encouraged to put more workers on “zero hours” contracts, classing them as employed even though the labour force might be less productive.

Forecasting The point of the new forward planning statement is to offer markets, businesses and consumers more certainty around the path of monetary policy. But the question is will it? The framework setting out when the Bank will act to change policy is based on its forecasts which, like any economist’s predictions, invariably do not materialise quite as expected.

The ‘knock-outs’ The Bank’s latest announcement points to a scenario under where it does not anticipate raising base rate for years yet, but what happens if unemployment falls faster than expected? That would mean the Bank would not stick to the guidance offered up on Wednesday, potentially offering a shock to the economy, markets and the planning

that might be based on what is hoped to be a more stable base for interest rates. There are also various exceptional circumstances included in the new approach that are known as “knockouts”, or get-out clauses to the system, that allow the Bank to stray from its new framework, so nothing is set firmly in stone.

The longer term For those in business needing finance low sustained interest rates the Bank of England guidance will undoubtedly be welcomed, as well as for households with mortgages or other personal debt.

Savers will not be so happy, of course, but let me just share some alternative thinking because although Mr Carney undoubtedly has acted boldly and shown leadership, his move is not without significant risks.

The reassurance that cheap money is here to stay for longer might, in time, be seen as a mistake for two key reasons. Firstly, that the unemployment benchmark ‘links’ the Bank of England more closely with the political world, as I have mentioned earlier, but secondly and perhaps more controversially because of its undoubted unpopularity - a different tack would have demonstrated real Bank independence and be to the economy’s best longterm benefit?

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Finance

The argument for increasing interest rates – now!

Although increasing rates immediately by a quarter or even half a per cent would send shockwaves through the country and around the world, it would reinforce the Bank’s commitment to controlling inflation and be a clear indication that it truly believes that the worst of the crisis is behind us. It would actually boost confidence in the UK recovery, confirm that the process of normalisation has begun and act as a warning to still over-borrowed firms and families that this is the last chance for them to get their act together.

Keeping rates artificially low for extended periods of time inevitably distorts economies and allows unsustainable projects to survive. It also pushes bond, equity, and property prices too high, depresses the value of sterling without boosting exports. It also messes up the pensions market, and incentivises consumption over saving – and all of that even before inflation begins to rear its ugly head.

The slashing of interest rates to just 0.5% was the right medicine a few years ago – but we are now suffering from an overdose, with too many people addicted to cheap money.

Wherever one looks, there are now signs of surging demand. Industrial production rose by 1.1% and manufacturing by 1.9% between May and June. House prices in the three months to July were 4.6% higher than a year ago, the strongest rate of increase since August 2010, according to the Halifax. The British Retail Consortium estimates that retail sales rose 3.9% higher last month on a year ago. The purchasing managers’ index, a key guide to this all-important sector, jumped to a reading of 60.2 in July from 56.9 in June, its highest level since December 2006, suggesting strong growth. Even construction appears to be doing better, with its own survey jumping. Yes, we shouldn’t get too carried away, and yes, the international situation remains weak – but this doesn’t feel like an economy that is crying out for permanently negative real interest rates.

I am concerned about the recovery’s

long-term sustainability. Britain remains imbalanced, with debt-driven consumer spending, reduced savings, subsidised credit and higher house prices, rather than enhanced investment and exports, fuelling the rebound. The recovery could easily continue long enough to bolster the Coalition’s election prospects; but at some point we will have to learn to live within our means, and to produce more and consume less, and that will require an extraordinarily painful readjustment.

I don’t see that we are yet, as a society, really prepared to address our key major spending areas and it really worries me that politicians, requiring popularity, are ready to be in the forefront of encouraging us to do so.

One of the reasons we are getting the wrong kind of growth, of course, is that we are abusing the low interest medicine that was used to alleviate the recession’s impact. The only way to a strong and vibrant economy is to purge the low-productivity firms being kept alive by low interest rates. It will be painful but to shift the economy back on to the right tracks is by gradually increasing interest rates.

If one looks at money circulating in the economy, a key determinant of demand, it is now rising at what is regarded as an acceptable speed and hasn’t slowed noticeably since the pausing of quantitative easing. The statistics are again all pointing towards to the need to start lifting rates: • The narrowest measure of the money supply, which includes banknotes, coins and instant access accounts, is rocketing. The six-month rate of growth hit 11.7% annualised in June.

• People and companies tend to accumulate cash before they start to spend it; the statistics started to improve late last year, and preceded the better GDP figures by about six months.

• Growth seems set to remain strong at least for the remainder of the year and that the Office for Budget Responsibility is expected to raise its forecasts.

• The broader measure of the money supply has risen by 5.2% during the same six months to June, on a six-

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Finance

RE

Bank of England

“If the time is not right now for interest rates to rise then that time is coming. SME’s need to be thinking about it and planning for it.” month annualised basis. While not especially high, this is nevertheless impressive in the context of ultra-low interest rates which penalise people for holding money. It means that the rate at which money is circulating has gone up and that aggregate demand is therefore expanding robustly, creating inflationary pressures as too much money is chasing too few goods, services and assets.

The counter-argument is that there is still plenty of spare capacity in the economy, and that stronger demand would allow it to be put to use, creating jobs, rather than fuelling inflation. I fear though that growth that was lost during the crisis, and the GDP that didn’t materialise following it, are gone forever.

There is also a real issue over supply.

Despite government encouragement it is still very hard, for example, to build new homes in the UK, that nimbyism

blocks new infrastructure projects, that tech firms are struggling to hire the right people, and exporters are still worried about selling goods to the eurozone.

Britain also still suffers from underemployment, despite strong private sector job creation; but the labour market’s problems are complex, and include poor education, technological change and the impact of globalisation.

There is a mismatch between workers and jobs, for a variety of reasons that includes skills, regional geography and much else.

There is no single solution or explanation, but UK monetary policy is no longer the issue. Rather than popular dovish forward guidance, what the economy probably needs now is a symbolic increase in interest rates, and for everybody to start moving on to tackling Britain’s real problems. The sooner that is done the better because

the more as individuals and certainly as SME’s we get used to cheap money, the more difficult it will be to adapt to an increased cost of finance when the recovery establishes itself, prosperity returns on a more widespread footing and demand and supply issues will accelerate inflationary pressures.

If the time is not right now for interest rates to rise then that time is coming.

SME’s need to be thinking about it and planning for it. Take advantage of the lower rates now but whatever happens do not get complacent that they are here for ever – they will not be!

Graham Carn, Senior Partner, Blackstones Consulting [If you have any comments or queries on this article please email: blackstones@btinternet.com]

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T

11/10/2013 15:24

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Finance

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To remain competitive in today’s marketplace it’s essential for any business to manage costs whilst maintaining maximum efficiency, and outsourcing is a great way of achieving these aims.

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Web : www.callistoassociates.com

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11/10/2013 15:25

Commercial Funding Guide Definitive Guide to Commercial Lending in Sussex

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Foreword I hope that 2013 is going well for you and your business.

Whilst the economic outlook remains challenging I still see many success stories across our County and I remain cautiously optimistic for the rest of the year and beyond.

possible breadth and depth of support to local business and that’s why our team of Relationship Managers undertake independent accreditation each year.

Sussex is a great place to live and to do business, with the local economy outperforming the national picture.

Across the County there is a huge diversity of businesses and entrepreneurial flair and I and my team are committed to helping ‘Successful Sussex’ flourish.

I hope that your plans for 2013 and beyond are similarly successful.

One of the success stories from last year that has continued in 2013 is our involvement in the Government’s Funding for Lending Scheme (FLS).

NatWest remains committed to making it easy and affordable for businesses to access finance. As part of this commitment we’re making available £2.5bn of funding specifically to support local businesses.

Robert Clare Regional Director, Commercial Banking

This funding is limited and offered on a first-come, first-served basis and all loans approved under the fund will be arrangement fee-free. I hope that many Sussex based small and medium sized businesses will take this opportunity to invest in growth.

Access to funding is important but access to expertise is vital. Running a small business can be lonely and is certainly demanding. We believe in providing the best

Please note that the FLS cannot be applied to overdrafts, or business credit cards. Offer is only available for loans.

Usual lending conditions apply. Structured Finance and Real Estate Finance are excluded.

Security may be required for which a fee may apply. Over 18s only.

ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED ON IT.

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NatWest accredited Relationship Managers will be able to discuss a number of lending options with you. Here’s a snapshot of various products available: Overdrafts: Flexible, accessible funds when you

need them.

Your Relationship Manager will discuss your requirements and agree a borrowing limit with you.

Key benefits: ■ Flexible and accessible – use the money whenever you like within the agreed overdraft terms

Fixed Rate Loans: Easier budgeting with known

future costs.

Our fixed rate loans helps you plan your future interest payments.

Key benefits: ■ F ixed rate – available for up to 10 years giving you budgeting certainty so you’ll always know what you’re paying each month during the course of the fixture ■ Flexible repayment terms – including interest only and capital repayment holidays ■ Transparent early repayment charge – so if you choose to repay the fixed rate loan before the end of the agreed term you know exactly what the cost would be

Variable Rate Loans: Linked to our base rate for longer term loans.

Our variable rate loans are simple to arrange and easy to understand.

Key benefits: ■ Variable interest rates – linked to the Bank’s base rate ■ Long maximum term – up to 25 years ■ No penalties – if you decide to repay some or all of your loan early ■ Multi-currency – to minimise exchange rate exposure Optional features: (subject to agreement at the outset) ■ Interest-only – with a single capital repayment at the end of the term

Variable interest rate – linked to the Bank’s base rate ■ Daily interest – calculated daily on the amount outstanding, you only pay for what you owe ■ Multi currency – available in a range of currencies to reduce your exposure to currency fluctuations ■

Early repayment There may be a substantial charge to pay if you choose to repay a fixed rate loan before the end of the agreed term. We recommend that you seek legal advice before entering into such an agreement.

Interest-only With the interest-only payment option you must ensure that you save money in a separate plan so that the loan can be paid back at the end of the term.

Capital repayment holidays Take a break from making capital repayments. Any capital repayment holiday must be agreed at the outset of the loan and interest is charged during the repayment holiday and your monthly payments may increase afterwards.

Product fees may apply. Your Relationship Manager will be able to advise you of fee information.

Capital repayment holidays – subject to agreement ■ Repayment options – choose capital and interest, interest-only or capital-only repayments ■ Staged drawdown – take the loan in stages over a 12 month period (in up to four drawdowns) when you need it ■

Interest-only With the interest-only payment option you must ensure that you save money in a separate plan so that the loan can be paid back at the end of the term.

Capital repayment holidays Take a break from making capital repayments. Interest is charged during the repayment holiday and your monthly payments may increase afterwards. Product fees may apply. Your Relationship Manager will be able to advise you of fee information.

Security may be required for which a fee may apply. Over 18s only.

ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED ON IT.

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Enterprise Finance Guarantee: If you have a

viable business proposition, need working capital or money to fund capital expenditure but don’t have any assets to offer as security for a conventional loan, the UK Government Enterprise Finance Guarantee Scheme can help. The Enterprise Finance Guarantee is only available to businesses with a turnover of less than £41K. How Enterprise Finance Guarantee works Under this scheme, the Department for Business Innovation & Skills (BIS) will guarantee 75% of your commercial loan, which means you don’t need a large amount of security to back your borrowing.

What’s more, your business can enjoy the many benefits of a NatWest commercial loan.

Key benefits: ■ Fixed and variable rates – whatever suits you best ■ Loans up to £1 million – borrow from just £1,000 ■ 10 year maximum loan term – and a three month minimum term

Funding for Lending Scheme: A local fund for local businesses.

As one of the UK’s biggest lenders to small to medium sized enterprises (SME’s), we’re committed to making it easy and affordable for businesses to access finance. That’s why, as part of our commitment to the Government’s Funding for Lending Scheme (FLS), we’ve launched a £2.5bn fund specifically to support SME’s.

Flexible drawdown – take your loan in one sum or in stages ■ Capital repayment holidays - take a break from making capital repayments. Interest is charged during the repayment holiday and your monthly payments may increase afterwards. Product fees may apply.

Your Relationship Manager will be able to advise you of fee information ■ Choice of borrowing options – Enterprise Finance Guarantee facilities can also be made available by way of overdraft or invoice finance, to help suit your own individual circumstances ■

Please note that if you take a loan under the scheme, you need to pay a 2% premium on the outstanding balance to BIS. Premiums are collected in advance, on a quarterly basis by direct debit. Some sectors are excluded from this scheme, and restrictions may apply to others. Please speak to your Relationship Manager for full details.

All of our Relationship Managers, with local knowledge and expertise, are ready to discuss the fund and your funding requirements with you – to ensure you get the right option for your business.

Please note that the FLS cannot be applied to overdrafts, or business credit cards. Offer is only available for loans.

Usual lending conditions apply. Structured Finance and Real Estate Finance are excluded.

This is a limited fund and all loans approved under the fund will be fee-free and offered on a first-come, firstserved basis.

Security may be required for which a fee may apply. Over 18s only.

ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED ON IT.

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Asset Finance: Helps you finance a wide range of

business assets, from cars and vans to IT, from plant and machinery to renewable energy assets. Asset finance frees up your working capital, by allowing you to spread the cost of your asset over time. If you choose to lease, rather than purchase, you also eliminate any depreciation risks or disposal issues at the end of the asset’s useful life. We can offer you asset finance through Lombard, the RBS Group’s asset finance division, allowing you to acquire the assets you need for your business.

Key benefits: ■ A lmost any type of asset – Lombard offers fully managed solutions for computers and cars, plant and machinery – in fact, most types of business asset ■ Make VAT savings – for non-vehicle assets and company-use only vehicles, you can normally reclaim the rental VAT. For vehicles used for private purposes, you can normally reclaim half the rental VAT

Invoice Finance: Grow, acquire or help to ease

your cash-flow.

Even when business is good, cash isn’t always in abundant supply. Your cash may be with customers while your suppliers are demanding payment. If customers aren’t paying promptly, your organisation may lack the cash-flow it needs to finance important activity – such as recruiting new staff, relocating, introducing new products and services and investing in marketing.

Invoice Finance gives you access to the money your business is owed. It can also help in day-to-day cashflow management, and act as a key element of the funding mix.

We offer invoice finance through RBS Invoice Finance, which is part of The Royal Bank of Scotland Group.

Keep your costs down – when leasing, you only pay for the useful life of the asset and you can benefit from low monthly payments ■ One asset or many – it doesn’t matter if you’re a small business or a multi-national, or if you need a single car or a fleet of vehicles – Lombard can help ■ Flexible – with a wide choice of financial solutions, you can decide whether you wish to own the asset or not at the end of the agreement. You also have the option of extending the rental period, should you wish to do so ■ No disposal worries – with leased assets, Lombard disposes of the asset for you so you don’t need to worry about depreciation values or manage the sale ■

Key benefits: ■ You can receive up to 85% of the value of each invoice within 24 hours. The remainder is yours, less our fees when your customer settles ■ Eliminates the problem of late payment ■ Smoothes peaks and troughs in the sales cycle ■ Frees-up management time to concentrate on growing the business ■ Built-in credit reference checks and credit limit analysis for all your customers ■ Up to 100% protection from bad debts when you take out Bad Debt Protection with your funding facility ■ An expert team of credit controllers with multilingual capabilities ■

T here are a variety of invoice finance options available

Security may be required for which a fee may apply.

Lombard North Central PLC. Registered in England No. 337004. Registered Office: 3 Princess Way, Redhill, Surrey RH1 1NP.

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Trade Finance: Helping your international trade development.

Our trade finance products and services could help you smooth your cash-flow, improve your working capital position and reduce the risks you face in foreign markets.

We offer tailored solutions, designed to meet your particular needs and the practices of the markets you operate in. We could provide funding for your orders and cash against raised invoices.

Currency Loans: For international businesses Currency loans are designed for international trading businesses, with multi-currency cash-flow.

You can borrow in a variety of currencies, and will need to set up a currency account with us for each currency that you borrow in.

Key benefits: Reduce currency risks – currency loans help reduce your exposure to exchange rate changes ■ LIBOR and Base related interest rates available – loans over £250,000 linked to London Interbank Offered Rate (LIBOR) for the currency of your loan, or loans linked to NatWest’s variable currency lending rate ■

Key benefits: ■ Trade cycle finance – for importers of foreign goods. Financing your purchases until you receive payment from your buyers ■ Discounting – turns your outstanding debts into cash. Contact your Relationship Manager for more information on our trade finance solutions

0 year maximum term – and a one year minimum 3 ■ Fixed interest rates – for periods of up to 12 months ■ Minimum loan £26,000 (sterling equivalent) – and no maximum ■

Early repayment There may be a substantial charge to pay if you repay a currency loan before the end of the agreed term. We recommend that you seek legal advice before entering into such an agreement.

Your Relationship Manager can advise you on the best repayment structure for your business.

Security may be required for which a fee may apply. Over 18s only.

ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED ON IT.

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Regional Contacts Commercial Banking

Business Banking

Corporate Finance Mathew Glentworth Corporate Finance 07747 008053 Richard Marshall 07803 025789

Asset Finance Robert Clare Regional Director 07713 988440

Graham Wright Regional Director 07770 990688

Gary Chown East Sussex Director 07748 704484

Mark Clancy East Sussex Director 07786 703730

Warren Cooper West Sussex Director 07721 333128

Chris Curtis West Sussex Director 07799 868760

Paul McConalogue Gatwick Director 07766 442213

Dominc Williams Gatwick Director 077853 41135

Ed Tomlin 07734 717567 Jade Childs 07747 564067 Simon Cox 07885 216460

Invoice Finance Kim Tunesi 07802 488237 Callan Jones 07795 301456

RBS Invoice Finance Limited. Registered in England No. 662221. Registered Office: Smith House, Elmwood Avenue, Feltham, Middlesex TW13 7QD. National Westminster Bank Plc. Registered in England No. 929027. Registered Office: 135 Bishopsgate, London EC2M 3UR. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

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Why Network?

There is no substitute for the good old handshake, says Maarten Hoffmann

Networking is vital for any business in today’s tough Advice economic climate but as with so many commercial choices we have to make such as what computer system to install, what marketing to undertake, what printer to employ – so one has to make the important decision of where to spend valuable funds and sometimes more importantly, where to spend our valuable time when it comes to networking. There are many such events in Sussex, almost too many to shake a stick at, but which one to join?

Social media is well embedded in our psyche these days and might l say, has turned into an obsession for some.

Whilst SM is a great advent that has brought with it numerous advantages there is no replacement for face to face dialogue. I hear people say that they have 500 connections on Linked In or a thousand friends on Facebook, but how many do you actually know and how many would actually do business with you based on some tenuous link through a computer?

There is no substitution for the good old fashioned face to face hand shake and getting to know one another over a drink but if you do want to network, where, how and which group?

I faced this problem several years back when l realised that l needed to step up my networking efforts and began the search for the Sussex group that would best suit my needs.

Surprisingly l couldn’t find one that really fitted my company and as time is often more precious than money, l didn’t want to devote time to a group that didn’t deliver.

I was put off by many things. Seated meals are a bug bear for me as sitting next to two people is just not the way to go if you want to network – the very meaning of the word is to meet lots of diverse people and not just two.

Second are sponsors. They pay the organiser a fee to pitch to the group and then everyone has to stop talking and listen to a speech in which they might have zero interest. That serves the bank balance of the organiser but not necessarily the group.

I realised that what was missing was a networking event that felt like a social occasion; an event l would like to go to regardless of the networking opportunities; an event that was relaxed, well hosted, enjoyable and full of diverse, eclectic and interesting people from a wide range of different business sectors with new faces at every event in luxurious surroundings with no superfluous additions. So l founded The Platinum Club, in association with the Grand Hotel, Brighton.

Now in our third year, The Platinum Club is a great success primarily due to the number of people out there that felt the same way l did. We stripped everything away – no seated meals, no sponsors, no marketing literature, no charity whip rounds and definitely no speeches. In its place, we host a relaxed Champagne reception with delicious canapés, live jazz and hosts that know everyone in the room and all in the splendour of the Grand Hotel.

While the guests sip Champagne, the Platinum hosts work the room and make casual introductions throughout the evening just as one would if you were hosting a party and invited lots of friends who didn’t know each other.

The Platinum Club meet at the Grand Hotel Brighton every month

The difference is that we know everyone in the room and the background to their business, therefore when we make introductions we know they are relevant to the business in question and that there is benefit to both parties. Never is anyone left standing alone and within ten minutes of arriving to their first meeting, new members feel like they have come home and are amongst friends. But I’m biased - Here are a few quotes from our members:

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ADVERTORIAL

“Let me tell you, The Platinum Club is no ordinary networking club. For anyone tired to the run of the mill networking events, l would suggest you try the Platinum Club” JOHN HEALY, Chairman, HEALY’S LAW

The Platinum Club is everything l expect from a networking club – informal, full of interesting people and very well run. I look forward to each meeting and have gained new clients and made some great friends” RICHARD KENDALLTOBIAS, Director, BLUE DIAMOND SECURITY.

We have members large and small but to ensure that we are not top heavy with any particular industry, we limit members to four per business category which ensures a good spread of companies. But as mentioned, there are many networking groups in Brighton that work very well for their members.

Cobb PR run the excellent Lunch Club that meets each month as does the Curry Club who meet monthly over curry and a pint and of course there is the Boundary Club at the cricket ground and they certainly have their fans. The local Chamber of Commerce also run some interesting events. It really is horses for courses but to ensure you get the best ‘bang for your buck’, work out what you want from your networking efforts and choose the group that best suits your needs.

For those that are new to networking

“I would highly recommend the Platinum Club if you are interested in meeting new businesses in a relaxed and friendly environment – we have only just joined and have gained new clients already” BECKY SHARP, HARVEY JOHN RECRUITMENT

“Thank you for a great year of networking events that are always very well organised and so refreshing to meet so many people l have never met before” KEITH JACKMAN, Director, MERCEDES BENZ OF BRIGHTON

or feel a little insecure walking into a room full of people who all seem to know each other, here are a few tips: a/ Take lots of business cards. b/ Ask the organiser for a list of attendees, study it and work out which one’s you would specifically like to meet. c/ Don’t be shy – locate the person you would like to meet, approach them when they are not in full flow with another person, look them straight in the eye and introduce yourself with confidence. d/ Don’t begin with a rehearsed pitch of your business. Instead, treat it as you would any social event you might go to – chat and get to know each other. e/ When the time feels right, tell them about your business and all the salient points. Keep it short and succinct, hand over your card, accept theirs and ask if it would be OK to get in touch the

“I met some great people and really enjoyed myself. Well worth it and l look forward to many more” AMANDA MENHEM, Director, HASTINGS DIRECT INSURANCE

SBT is proud to be the media partner for The Platinum Club

following week to expand further. If you are getting along like a house of fire, chat away. If not, thank them for their time and move on. Remember – treat a networking event as you would a social occasion, but with a mission. f/ Accept only soft drinks until you have met all your planned people – getting tipsy straight off the bat often leads to all sorts of unplanned things falling from one’s lips and sometimes a failure to remember anyone you actually met!

Networking is a fantastic way to meet new people, gain more business and to promote your company and is very cost effective. For more information on joining The Platinum Club, call 07966 244046 or mail info@ theplatinumclubbrighton.co.uk and check out recent and future events at www.theplatinumclubbrighton.co.uk.

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Sponsored By

From left to right: David Eagle, Lead Partner, BDO, Alistair Aird, Business Development Director, Santander, Robert Clare, Regional Director NatWest, Lee MansďŹ eld, Managing Director, Life Media Group

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Round Table The Inaugural SBT

Sussex experts meet to discuss real issues faced by businesses in the county.

First on the agenda is the topic of lending

In association with The Platinum Club

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Welcome to the first Sussex Business Times Round Table in Discussion association with The Platinum Club. You will understand as a business title we at Sussex Business Times are asked many questions many of them directed to our finance team and editor, therefore after collating these we have produced a list for use in today’s forum.

Robert Clare, Regional Director, NatWest.

Alistair Aird, Business Development Director, Santander.

David Eagle, Lead Partner, BDO. Lee Mansfield, Managing Director, Life Media Group.

There’s a common perspective that banks are not lending to SMEs. How can you assure us that money is available to businesses looking to grow?

Robert Clare Regional Director NATWEST: From my perspective, I’m naturally going to say yes. We have £20bn to lend to the right businesses. My lending book has grown across Sussex in the last year and we’d love to see more applications. It’s an emphatic yes.

And Alistair, from Santander’s perspective – would you agree with Robert’s view?

Alistair Aird Business Development Director SANTANDER: We’ve been growing from a low base on corporate at 20% a year for four years…

book now worth 700m in the area. It’s not a question of not having money, it’s finding companies who want to expand in this environment and who understand risk vs equity. We’re keen to lend and have similar lending targets Lee Mansfield, MD, Life Media Group: Interesting and not unexpected answers from the banks, but from what we hear smaller businesses do struggle to get lending, but perhaps that’s because they’re not strong enough for it. Are the rules stricter now? Are banks more careful.

Robert: It’s difficult, because banks tend to give a rationale answer to an emotional question. But let me give you one statistic, our overdraft availabilities are only 43% utilised so there IS funding available. The world has changed though and in many ways we’re going back to the way bank lending used to be, which is really about understanding cash and cash generation. For a while we were in a situation where banks did lend to SMEs just against the value of security rather than the ability of the business to be successful and be able to repay.

This is better now as we’re looking at the real strengths of businesses which requires banks and SMEs to become more professional in their approach to cashflow.

And David, what are your clients saying?

David: What we’re seeing is that the better structured businesses that do have the funding are having a crisis of

confidence and not using it, whereas the smaller businesses that want to have access to that funding perhaps can’t get it because they’re not established and don’t have that track record. So we do see that our clients experience a lack of funding, but we understand why that’s the case.

Alistair: If they’re not prepared to put a personal guarantee up, they’re effectively saying we’re not prepared to risk our money but we will risk yours. We can do transactions without a personal guarantee but only when it’s absolutely necessary.

It comes back to that risk and reward balance. We’re not looking at companies doing exceptionally well, we don’t share in the rewards like a private equity firm would, we simply have to work on whether a company will keep afloat and succeed. I come from a corporate finance background so it frustrates me not to be able to buy into the story and potential of a great company when I see the potential, but that’s not where a bank comes from.

Our products have to manage their risks very carefully. We simply cannot afford to lend irresponsibly.

Robert: people are expecting to be denied funding without even having asked. They also think it’s expensive, but it’s actually never been cheaper to borrow money which means that creating a return on investment is easier.

Many Companies are looking to invoice finance as a solution to ease cashflow and create working capital in the absence of so freely available overdraft facilities but it comes at

David Eagle, Lead Partner, BDO

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Sponsored by

a price compared to overdrafts. Do you see IF as a good solution for SME’s and is it something that may be taking over from the traditional overdraft?

Robert: The market’s perception of Invoice financing is changing, for the better actually. It sometimes used to be thought of as a last resort but thankfully that’s changed. It can be a very appropriate source of funding especially for growing businesses. It’s a great way to raise cash that’s tied up in debtors.

There are of course costs associated but it’s about what having that working capital available allows you to do.

Lee: it doesn’t have the stigma it did ten years ago. Releasing that capital can be very beneficial for small companies. There can be some hidden costs which need to be watched out for and perhaps made more visible, but for small businesses it can be worthwhile.

David: You have to be very careful. It’s not about obtaining new finance, it’s about the working capital you already have, and businesses need to carefully segment and make sure that each source of finance is carefully matched with need.

Alistair: I think it’s that the fixed cost of invoice finance would make it very expensive if it were very small overdraft vs very small invoice finance… but invoice finance grows with you whereas overdraft doesn’t in the same way. All things being equal, an invoice finance company should be able to release more funds to a company on the same amount of business so there is a benefit.

Robert: There is wider value to consider rather than just the cost of the facility – for example, securing against a debtor book can allow personal guarantees to be lowered but the key thing is what the funding enables the business to do.

We hear lots of complaints about companies lengthening their payment terms to suppliers or just paying later and later, what can be done about that?

Alistair: Well, invoice finance is a way of negating this by releasing the payment.

Companies don’t pay late because they’ve set out to be inconvenient, it’s

Alistair Aird, Business Development Director, Santander

“It’s an interesting conundrum. It has always been an issue. Supply chain finance isn’t big in this country yet but overdraft facility and invoice finance are options” because of pressure throughout the supply chain and each company impacts the next and the process rolls on. We’re looking at that whole cashflow issue. You should be able to use the strength and security of the big company at the top to feed cash down through the supply chain. For example, the top company in the chain extends their payment terms to 120 days, mass panic, Santander uses the strength of that top company to release the funds and pay your invoice sooner – perhaps within a day or two, knowing that it is secured. It happens more abroad but it’s a different way of looking at things and another tool we can use.

David: I‘ve not seen this in the UK. The issue for most UK businesses is how do you stop these payment terms getting longer and longer? There used to be pressure when companies were made to show their payment terms in their account, but now they’re all getting longer nobody stands out, so I don’t see any way of stopping this without legislation.

Robert: It’s an interesting conundrum. It has always been an issue. Supply chain finance isn’t big in this country yet but

overdraft facilities and invoice finance are options. I think the important thing is that when trade terms change, you need to turn to your bank, sit down and work on a solution because there most often is one. You also need to assess how much that particular problem contract actually is worth. It’s easy for smaller businesses to feel that they have to dance to the tune of the huge companies but, if those terms are going to place unreasonable pressure on your business, it’s worth another look and sometimes tough decisions have to be made.

SME’s are targeted by government as being the vanguard for recovery can they do this without appropriate financial support?

Robert: They can, and some do so very well. The majority of SMEs in this country don’t borrow and don’t need to and that’s a very important factor.

Businesses do very well using their own cash. If a business is looking to grow, that sometimes needs equity to come in because banks will fund working capital, asset purchase, debtor finance and for acquisition but banks are looking to lend against existing and projected cashflow.

As an alternative there is strong growth

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damaging. It’s sending people down this route before they’ve even looked at other options.

What are your views on the challenger banks such as Shawbrook, Aldermore, Metro and the like? Do you see them as a threat or just healthy competition?

Regional Director NatWest, Lee Mansfield, Managing Director, Life Media Group

“Our job is to serve customers well, and good competition only makes you better at that” in peer to peer lending. There is a point at which SMEs may need equity which is where business angels and private equity may be an appropriate option.

Alistair: Banks aren’t after big risks and big rewards, that’s not how they work – they only get the interest regardless of how well the company does. There are a small number of SMES that are real growth drivers who see their business as a value creator and they’re the ones that look at the cake, if you like, and think “if I share this with an equity firm, my portion will grow. Yes, I will be sharing it, but it will be a better scenario.” Some people are looking at it far more as their own cake and are anxious about sharing it, regardless of growth. Santander have a mezzanine product called growth capital, designed for growth companies. It allows expansion by paying a higher rate of interest rather than giving up your equity.

It’s not for everyone but it’s an option for those looking at growth.

I’m not sure it’s changed, I think we’re just seeing it more. It’s important for businesses with short term cash needs to seek proper advice and good quality conversations with people who can advise them on the right thing to do.

Clearly they are very high risk transactions and the APRs reflect that. I understand that people take desperate measures taken in desperate times. From a business perspective I would implore businesses to seek proper advice.

There has been a huge rise in the advent of pay day loan companies and although I think we would all agree that this is a foolish way to borrow money, does this have wider implications for the economy in general?

Alistair: I’d definitely say to businesses and individuals to talk to people, percentages are confusing. It’s a fixed fee for the money over a very short period of time, which is more reasonable in some cases. An example Martin Lewis used was If I lend you £20 and say “pay me back next Friday and buy me a pint”… that sounds very reasonable, doesn’t it? If you look at that as an interest rate, it’s 141,000%! But you don’t look at it that way. If you extrapolate that as an AER it sounds ridiculous.

I had a look at one that lends to business, max amount was 30k for a year. We’re focusing on micro businesses that need really good, reliable financial advice and to know exactly how the money is being used.

Robert: They have always existed, the internet just makes them more visible.

Robert: That’s why this idea that the banks aren’t lending to anyone is so

Alistair: I think Santander are one! I think as we challenge the larger banks, others will challenge us and that’s surely all for the better! It drives everyone in the market to improve. Bring it on! It just emphasises that there are options for you.

Robert: I’m not going to sit here and say competition’s a bad thing, I absolutely agree. Our job is to serve customers well, and good competition only makes you better at that. The market doesn’t function without it and it’s entirely appropriate that the banks have different strengths, criteria and risk appetites. It would be a sad day when all the banks were the same, because that would mean every business would get the same answer from any bank they went to. So I welcome it, just as I welcome peer-topeer lending and support. It opens up more options for businesses to grow. It creates movement and development, which is great.

David: these smaller banks can pick and choose their sectors, which makes them more competitive in some cases. They gain more experience in their individual markets and then can sell on the basis that they are knowledgeable within that particular sector, and then of course later, they can spread their wings.

Obviously there are a lot of political and economical uncertainties within Europe at the moment, particularly surrounding the future of the euro...

How does that affect your advice to SME’s trading with Europe?

David: Currencies are particularly volatile at the moment, have been for three or four years. If you are trading overseas, you have to be aware of the risks. It’s effectively gambling at times. Every business need to look at protecting their business even if they have to do so by buying forward; taking out insurance.

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10/10/2013 11:59

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Alistair: Letters of credit are not the only tool for supporting international trade.

We do encourage our businesses to look at trading overseas and we do want to support them in doing that – done well, we have no doubt that it will be beneficial but it DOES have to be done sensibly. If you want to take a risk, go ahead but do make sure you are aware of those risks.

There are plenty of SMEs trading extremely successfully with Europe, and why limit yourself to Europe? We’ve taken companies from Sussex to the Americas and Asia, and there are plenty of opportunities that we can help you look at.

From left to right: David Eagle, Lead Partner, BDO, Alistair Aird, Business Development Director, Santander, Robert Clare, Regional Director NatWest, Lee Mansfield, Managing Director, Life Media Group

Business confidence seems to be growing a little - do you see this across the board locally or in just certain sectors - and is it well founded?

Robert: In short, yes. I’m cautiously optimistic, as you might expect me to be.

Businesses almost seem to be surprised at how well they’re doing, especially in Sussex! I think there are signs that the economy is lifting locally. They may not be dramatic but they are encouraging.

Lee: I’d agree with that. Speaking to businesses throughout Sussex as SBT, it’s amazing how much has changed in a year.

David: There are more transactions now being put to bed than there have been for a long time, because the finance is starting to become available. Once that movement begins, it begins to create confidence, which in turn lifts business further. There are certainly good signs out there.

Clearly trading conditions continue to be difficult. What would be your most important piece of advice you would give to SME’s for the foreseeable future?

Alistair: Get good advisors around you, and use them. Speak and consult with your bank, your lawyers, build a team around you. You won’t manage alone but with the right people, you will do it.

Robert: Really understand where cash is

Len Mansfield, Moderator

“Businesses almost seem to be surprised how well they’re doing, especially in Sussex! I think there are signs that the economy is lifting”

coming from, where it’s going and what it’s needed for. It’s about planning and applying logic to situations, which are justifiably emotional at times, in order to take the best approach.

David: There’s no substitute for high quality data. You can run a business on a shoe string for an amount of time but not forever, but when the time comes to seek financing you will need that information.

www.natwest.com www.santander.co.uk www.bdo.co.uk www.lifemediagroup.co.uk

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10/10/2013 11:59

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101740-R22 Parts Ad_sussex_business_times_210x297_11-2013.indd 1 P Bank Borrow SBT SEPT 2013.indd 50

No bo dy k n o w s D aikin be t t e r

09/10/2013 11:07 11/10/2013 14:14

3 11:07

Bank Borrowing With the increase of businesses seeking help, Adrian Alexander, Corporate Finance Partner, Mazars LLP, talks to SBT about Bank lending At a recent awards dinner the main cause of the Review continued recession was attributed to the negativity of the media and their pursuit of the banks, whom they have accused of not being open for business and thus not being able to drive a recovery from the “recession which they created”.

In reality, however, what I have experienced and what I believe is representative of the market, is that the banks are open and looking to lend money. The difference between now and pre-2008 however, is that the banks are looking to lend money only to those businesses with a good track record, reputable management and proper financial systems in place.

The more prudent approach by the banks is understandable and this has led to a greater level of planning from businesses looking to raise funds.

We have seen a large increase in the number of clients seeking help with business plans and although this is considered by some entrepreneurs as administrative bureaucracy, it is helping to focus the minds of management on the repayment implications of the borrowing and the potential return on investment of the project.

As well as offering the banks considerable confidence these business plans are a pre-requisite for raising finance from alternative sources such as private equity, crowd funding and angel investors.

The interest in these alternatives has understandably increased as the availability of traditional bank funding has contracted. Similarly the Government has looked to release money to SMEs through the banks

“Banks are looking to lend money only to those businesses with a good track record, reputable management and proper financial systems in place” via schemes like the Business Growth Fund, Funding for Lending scheme and the Enterprise Finance Guarantee scheme where the Government guarantees 75% of an SME’s bank loan, with the lenders covering the remaining 25%.

Despite the government and capital markets developing initiatives and alternatives to traditional bank funding there has been a decrease in the demand for borrowing. As Graham Carn mentioned in August’s edition, the recent BDRC Continental survey found that 63% of SMEs were reluctant to borrow due to the economic climate, whilst 41% were “permanent nonborrowers” who don’t use and have little inclination to use external finance.

The one area where we have seen an increase in the levels of borrowing is for ‘Two-Step Exit Plan’ or VIMBOs (Vendor Initiated Management BuyOuts).

With a number of owners having delayed their retirement, due to the poor valuations that were being realised at the height of the recession, the use of a Two-Step Exit allows the

owners to take a level of cash out of the business now to realise their life ambitions or to meet personal requirements, whilst retaining a stake in the business.

This transaction empowers management who take a percentage of ownership and ensures the owner retains a level of involvement.

Banks have typically found such a transaction attractive to fund, whilst the ownership structure may change the key individuals have not. For a high performing organisation the opportunity to lend money to the business or increase their current funding position can be good business for the banks.

The second step of the transaction involves either a full exit in a trade sale, where the management and owners realise their respective stake, or at a second MBO where the owner fully exits, and this can be carried out a stage when the bank is willing to lend further funds and the business is able to take on the debt that is associated with the transaction.

So, whilst we often hear that the banks are closed, our experience is that they have in fact taken a more prudent approach, lending only to organisations who will be able to make the repayments. A common sense strategy that, if it had been followed from the outset, may have saved us from some of the problems that have been faced over the last few years.

Adrian Alexander Corporate Finance Partner Mazars LLP, Brighton

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11/10/2013 14:14

Motoring

Test Drive

Maarten Hoffmann, SBT’s Motoring Editor, reviews the Vauxhall Ampera and the BMW Z4

Review

VAUXHALL AMPERA

As a great fan of the internal combustion engine, it was with considerable trepidation that l accepted delivery of my first alternative fuel test vehicle – the Vauxhall Ampera. l never thought l would see the day, as my opinion of all current forms of alternative fuelled vehicles is well documented and it is decidedly not complimentary. So, Vauxhall took a punt on sending me one and a very brave punt at that.

On first glance, it is a good looking vehicle with no discernible difference from any other car, although there is a slight whiff of space age styling about it. It’s when you sit in the cockpit that everything changes. Confusion reigns as you try to come to terms with the traditional dashboard suddenly appearing a trifle disconcerting and unfamiliar.

Suddenly it’s all bright screens, touch controls and bouncing balls – I’ll get to the bouncing balls a little later.

The Ampera is the first of its kind as this front wheel drive car is powered totally by the electric motor, which in turn is powered by the battery pack, which in turn is charged by the 1.4 petrol engine. The petrol engine is essentially a generator that drives the electric motor and not the car itself and kicks in automatically, and almost silently, if the batteries are low. Once charged from a standard 3 pin plug at home, it will give an electric range of 50 miles – do this sort of mileage every day and you might never have to frequent a petrol station ever again and the overnight charge is purported to cost only £1. Ideal for short commuting or shopping trips then.

Venture further afield and you will need the generator but this combination totally removes all EV’s greatest drawback range anxiety. In my time l have been anxious about quite a few things but l must say that range has never been one

of them! To be far from home or office and find that you need to plug in for a minimum 6 hours before you can go anywhere has always been the Achilles heel of electric propulsion. Vauxhall have responded to this, as with smart driving, 235 mpg is totally realistic and quite remarkable and there are even rumours of 1100 mpg!

So let’s get this straight. £1 to charge for the full 6 hours, 235 mpg with only 27 g/km coming out of the tailpipe, no congestion charge, no road tax, 50% reduction in company car tax, £5000 price reduction from the governments plug-in-discount and a very effective weapon for population control, as it is totally silent and can therefore take out pedestrians at will. I can attest to this as within 5 minutes of setting off, an old chap walked into the side of the car at a junction and got such a fright that l thought of another benefit to the car, in that l could have got the battery cable out of the boot and shocked him back to life in true Mr Bean style.

Now to the bouncing ball. The dash takes some getting used to but becomes

intuitive quite quickly and is a cause for a fair amount if tension. Everything is telling the driver what they are doing wrong. Hit the accelerator and the screens warn you how much charge you are using, how quickly you are draining the electricity and the guilt you should feel that the petrol engine is about to kick in. The bouncing ball hovers on the screen and moves up and down depending on how hard you accelerate. Like a computer game your mission, should you choose to accept it, is to keep the ball in the centre of the screen for optimum efficiency.

Now call me old fashioned, but l am not sure that such focussed concentration on the bouncing ball game is a good thing when you are in control of a 1689 kg vehicle that no one can hear coming. By the way, there is a button that makes the car chirp to warn pedestrians but l cannot countenance a time when l would want my £30,000 car chirp like a sparrow and all it would do is make the person look into the sky for that pesky bird and not see or hear you coming.

The next screen shows a diagram of the car and demonstrates where the

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power is coming from and where it is being fed to. Then there is information on regenerative brakes, petrol range, electric range, power flow, thermal management, energy management and on and on.

Then you have the standard speed, temperature, clock and the like – in short, so much information that there is barely time to look out of the windscreen. It is all very Apple like and best suited to a 15 year old with a technology obsession.

The central touch button console looks pretty cool but is not easy to use and response can be slow and inaccurate if you are looking out of the windscreen.

Visibility is poor with thick windscreen pillars that restrict the drivers view at junctions and roundabouts and the small rear window makes parking a bit of a chore.

It is surprising that it is so easy to drive as one expects a million gig computer to try to take over and drive for you but in fact, you wouldn’t know you are driving a revolutionary vehicle as it feels like any other. It is comfortable with plenty of head and leg room but with one quite serious drawback – there are only two seats in the back due to the under floor battery placement. In a full size family hatchback, this is quite a major

drawback. Acceleration is instantaneous as with the electric motor. There is no lag and the 148 bhp electric motor is fast off the mark and very smooth, with good road manners and although a tad heavy in the corners due to the weight of the batteries, it is a very good drive and much more relaxing than hybrids with noisy CVT gearboxes such as the Prius, Price could also be a drawback as at a starting price of £29,995, including the £5000 plug-in discount, it could not be called cheap. It is well worth it if you drive short distances as the savings on fuel will be immense but for those that do considerable mileage the benefits reduce considerably and would take quite some time to recover. Resale values are also a little unknown and then we come to the biggest unknown factor. Will electric propulsion be the future of motoring or will it be hydrogen, or fuel cell, or palm oil or – l could go on but only time will tell.

The Ampera is a remarkable piece of engineering that drives very well, is totally silent, comfortable and spacious and affords the driver the opportunity to be righteously smug, and was quite rightly voted 2012 Car of the Year.

The Details

By Maarten Hoffmann, Editor

www.vauxhall.co.uk

Technical Stuff: Engine 1.4 litre petrol and 148 bhp electric Price: From £29,995 after discount Fuel consumption: Up to 235 mpg Performance: 0-30 in 3.1 seconds.

0-60 in 9 seconds Top Speed: 100 mph Warranty: 100,000 miles.

Battery: 8 year/100,000 miles Like: Styling, Acceleration, Novelty Dislike: Only 4 seats, Price, Dash Distractions Alternatives: Chevrolet Volt; Toyota Prius; Nissan Leaf

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BMW Z4

Review

In my driveway is a car that l must admit, l have never taken much notice of. The BMW Z4 has been with us since 2002 in its original guise as the Z3, but for some reason it has never really been on my radar or wish list (l have quite a long wish list).

I am a huge fan of front engine 2 seater cars with long bonnets and buckets of power ever since l first ‘borrowed’ an E Type followed by an Austin Healy 3 litre and a Triumph TR6 as a kid and felt the back let go on a hard corner and was introduced to that addictive feeling of over steer.

Ergo, l should of garnered an interest in the Z4.

Anyhow, there it sits and with the

roof up it is a beautiful car. The lines are sensual, the nose and new lights are gorgeous and the back end is rather reminiscent of the SLS – one of the sexiest backsides ever designed in my opinion – with the exception of Heidi Klum’s of course!

Not quite so pretty with the roof down but you can’t have everything!

The interior is as expected from any BMW cockpit; well thought out, good driving position and great materials with the huge bonus in a soft top – a hard top.

The Audi TT and Boxster are probably as good a car but no available hard top gives the Z4 an edge. It is a cliché, but the Germans can build cars better than any other nation on earth and the devilishly intelligent thought process that went into the retractable roof mechanism just entices you to keep popping it up and down for the childish pleasure of

viewing the event – pure engineering magic packed into 22 seconds. The drawback is that your boot space is compacted to the size of a pea pod. It’s not that the space is tiny so much as put your case in when the roof is up and it will not be coming out whilst the roof is down, as all you are left with it a letter box gap. So this is the buyer’s call – safety, lack of wind noise and a cracking looking lid versus a soft top that can be breached with a pen knife but with more boot space and less weight. In any two seater sports car, the compromise must be made.

As to the drive – well, it was a tad spoilt for me as l was sent the sDrive18i which is a tad underpowered, with a 2 litre turbocharged 4 cylinder engine that certainly does its job but little more besides when a Sierra can see you off at the lights. This is a de-tuned version of

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Motoring

“As it is a BMW you can wring the neck out of it and still be quietly assured that you will see it pass 100,000 miles with little more than a polite cough for an oil change”

the 20i and aimed to get the price and emissions down, so will suit those who love the look but are not too bothered about the performance but for sane normal human beings amongst us, you have to buy at least the 20i. I would counter a different argument – get the model that goes like it looks – that would be the 35i. Knowing any disappointment was purely power related, l popped into my local dealer and borrowed a 35i – now we have a world winning, class mashing car with a 0-62 of 4.8 second, 306 bhp and 30.1 mpg and that places it firmly in the class of the SLK55 AMG and Boxster S – and that is quite a class.

All models have exceptional road manners, the gearing is spot on (if reverse selection is a trifle counter intuitive), it is agile and composed in all cornering with variable predictable steering, air bags in the headrest for sideways impact protection, great brakes, great ride and rated as one of the quietest cars in its class. At an impressive 41.5 mpg, the 18i is certainly an involved drive as you really have to drive it to get the optimum performance and the excellent economy is down to BMW’s Efficient Dynamics with brake energy regeneration, electric power steering, low rolling resistance tyres and optimum shift indicator. And as it is a BMW you can wring the neck out of it and still be quietly assured that you will see it pass 100,000 miles with little more

than a polite cough for an oil change and BMW’s pre-paid servicing pack offers all servicing for 5 years or 50k miles. Few sub £30k sports cars deliver such a blend of styling, quality, economy and grace.

And no diesel option – hurray!

The Details Technical Stuff Price: From £27,610 but you will need some extras.

Engines: 1997cc Acceleration: 0-62 – 7.9 seconds Top Speed: 137 mph Economy: 41.5 mpg Warranty: 3 years unlimited mileage Like: Performance roof; quality; aggressive stance; overpowered 35i.

Dislike: Boot accessibility; underpowered 18i.

Alternatives: Porsche Boxster; Mercedes SLK; Audi TT

By Maarten Hoffmann, Editor

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FINANCE ROUND-UP

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REVIEW OF THE MERCEDES A CLASS & KIA SORENTO

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THE ERGONOMIC ACADEMY

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Q&A

Buying a property is one of the most expensive financial commitments that most people will make in their lifetime, and it is important that they ensure they do not make a mistake by not being fully informed at the outset

Andrew Stenning from Searches UK explains: There are numerous searches which can be obtained, and with changes in the law, environment and insurance requirements, it is vital that purchasers are informed of any potential risks and future developments surrounding their proposed property to avoid their dream home becoming a living nightmare.

I understand that the legislation regarding chancel repair liabilities is changing in October 2013 – will I still need to obtain a search on chancel repair liabilities after this date?

Before answering this, let us briefly explain what the liability is. It originated under ancient medieval law and those living in a parish or on church land were obliged to contribute to the upkeep of the chancel (the space around the altar). The church could either ask for contributions from all those potentially liable, or just one or two of the wealthier land owners. There is no set limit on how much the liability could be and it is estimated that as many as 5,200 parishes may be the subject of a chancel repair liability.

The right to demand payment for chancel repairs can be protected by a notice on the Register at Land Registry and notices can be entered up to 13 October 2013. They can still be entered after that date, but only if there has been no change in ownership since then. Chancel repair liability is currently classed as an overriding

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interest, but after 13 October this will cease, although it is important to note that chancel repair liability will not be abolished after that time and will still apply in many cases. Therefore obtaining a chancel check will still be important to see if there is any liability and a further precaution may be to obtain chancel repair liability Insurance.

I do not live near to a river or the sea – am I still advised to have a flood search report?

Yes, is the simple answer. The Environment Agency estimates that 1 in 6 homes is England & Wales is currently at risk of flooding and this figure is significantly greater than previous estimates as a result of the recent inclusion of flood risk data associated with overland surface water or pluvial flooding, in addition to the more traditional tidal and river flooding in the past. The Government and the Association of British Insurers are currently locked in discussions as how best to deal with the escalating costs of insuring properties which are considered to be at a high risk of flooding. They have agreed a Memorandum of Understanding on how to develop a not-for-profit insurance scheme – Flood Re- to ensure that flood insurance remains available and affordable, however, this is still in its early stages and is not expected to be implemented before summer 2015. Because flooding can occur for a variety of reasons, undertaking a flood risk search only where a property is located near a river or the sea is not considered a robust or prudent approach in the course of a property transaction. It is essential that a

flood risk search is carried out before purchasing a property to assess if it has a history of surface water flooding, for example because of poor drainage.

Failure to find out this key information could result in the owner being unable to obtain a standard insurance policy, not to mention the potential disruption and damage that can be caused by flooding.

I have heard a great deal about “fracking” in the news recently – should I be concerned about this?

Fracking is the process of drilling down deep into the earth in order to release the gas inside. The process involves water, sand and chemicals being injected into the rock which can create new pathways to release the gas. The extensive use of fracking in the US has prompted a number of environmental concerns, including worries that the potentially carcinogenic chemicals used may escape and contaminate groundwater, as well as concerns that the process can cause small earth tremors following fracking.

Reserves of shale gas have been identified across swathes of the UK and it is recommended that an Energy & Infrastructure Search is carried out before purchasing a property, to determine if the property is likely to be affected by fracking in the area.

I understand that the Government is still committed to pushing ahead with the High Speed 2 Rail Network (HS2) – how may that affect a purchase?

The National High Speed Rail Strategy, which started with High Speed 1 (the route between London and the Channel Tunnel), is continuing with High Speed

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2. The first phase of High Speed 2 is an initial London to Birmingham line, which could be operational by early 2026.

A second phase from Birmingham to Manchester and Leeds is expected to open in 2032, with up to 14 trains running each hour at speeds up to 225 mph. Construction methods will vary, and undoubtedly will result in disruption as well as potential liability, including compulsory purchases of properties along the proposed route. These issues alone present potentially significant risks to property purchases in the vicinity and homeowners are already concerned that it may affect property values as well as views.

Searches UK are able to provide HS2 Search reports for anyone purchasing a property in any of the affected areas, which include: Ashfield, Aylesbury Vale, Barnsley, Birmingham, Bolsover, Broxtowe, Camden, Cherwell, Cheshire East, Cheshire West & Chester, Chesterfield, Chiltern, City of Nottingham, Coventry, Erewash, Islington, Leeds, Lichfield,

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Conclusion: Searches UK provide invaluable assistance to solicitors and conveyancers throughout the UK to ensure that their clients’ interests are protected, their firms act appropriately and comply with the CML’s advice and guidance and any purchasing decisions are based on a solid knowledge of the area.

Searches UK can help you with all of your conveyancing search requests, combining fast, reliable and costeffective searches with a first class personal service. www.searchesuk.co.uk

Andrew Stenning from Searches UK explains why they joined Checkaprofessional.com Searches UK are not only one of the country’s leading search providers, but we are also experts in the area of risk and compliance, and are leading the way for the search industry in this respect. By becoming members of Checkaprofessional.com, we are able to provide new clients with honest feedback from existing clients, giving them the peace of mind that we deliver on our promises and excel at what we do.

Kate Boguslawska, Employment lawyer at Saunders Law tells us about the summer changes to tribunal rules and what businesses need to be aware of

Kate Boguslawska explains: Summer changes to tribunal rules In the financial year 2011-12, there was a total of 186,300 employment tribunal claims accepted, the annual cost of the Employment Tribunal system was said to be approximately £84 million.

The Enterprise and Regulatory Reform Act 2013 and the Employment Tribunal (Constitution and Rules of Procedure) regulations 2013 came in to introduce reforms to employment law.

The Main Changes • On 25th June 2013 we witnessed the

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London Borough of Brent, London Borough of Ealing, London Borough of Hammersmith & Fulham, London Borough of Harrow, London Borough of Hillingdon, Manchester, Newcastleunder-Lyme, North East Derbyshire, North Warwickshire, North West Leicestershire, Rotherham, Royal Borough of Kensington & Chelsea, Rushcliffe, Selby, Sheffield, Solihull Metropolitan, South Buckinghamshire, South Northamptonshire, Stafford, Stratford on Avon, Tamworth, Three Rivers, Trafford, Wakefield, Warrington, Warwick, Westminster, Wigan, Wycombe.

whistleblowing reforms and the removal of qualifying period for unfair dismissal claims over political opinions.

• On 29th July 2013 the two-tier fee paying system was introduced with an issue fee of £160 for ‘minor claims’ and a hearing fee of £230; and for more complex claims an issue fee of £250 and hearing fee of £950.

• Other July changes included the introduction of preliminary hearings which would combine case management discussions and prehearing reviews and judges powers to strike out weak cases.

• Changing the cap on the unfair dismissal award for the lower of £74,200 or one year’s pay.

• The introduction of pre-termination negotiations (so called protected

conversations), renaming Compromise Agreements to Settlement Agreements and the introduction of ACAS Code of Practice on Settlement Agreements.

• 1st September introduced Employee shareholder contracts - a scheme which allows employees to give up their employment rights in return for at least £2,000-worth of shares in the employer’s company.

Upcoming changes in October 2013 • The third party harassment provisions of the Equality Act 2010 to be repealed on the 1st October 2013.

• National minimum wage will Increase.

Kate Boguslawska, Solicitor, Saunders Law Ltd: kate. boguslawska@saunders.co.uk www.saunders.co.uk, 020 7632 4300

0808 901 9042

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SBT

Corporate Christmas Parties

Alexander House Hotel, East Grinstead is an impressive venue for hosting the corporate Christmas party of the year. This glamorous five star hotel will be fashionably decorated and ready to spoil you with a superb four course dinner, dancing till midnight and casino entertainment. To add extra sparkle to your event, Alexander House are offering new corporate Christmas party bookings taking place on Thursday evenings throughout December a complimentary glass of bubbly for every guest!

Party nights start from £40.00pp. To make your enquiry contact sales@alexanderhouse.com and quote ‘SBT PARTY OFFER.’ Special offer is limited to dates and availability.

Alexander House Hotel and Utopia Spa Turner Hills, East Grinstead, RH10 4QD 01342 859 753 www.alexanderhotels.co.uk

TO ADVERTISE, CONTACT 01323 433 706 OR LOTTIE@SUSSEXBUSINESSTIMES.CO.UK Say No To Turkey! Alternative Christmas at Yum Yum Ninja Yum Yum Ninja, Brighton’s newest Pan Asian restaurant, has launched its exciting Christmas menu entitled ‘Say No To Turkey’.

The Bo Ho Ho Feasting Menu for just £25 per person is sure to tantalise the taste buds with a selection of tasty appetisers, delightful dim sum and a sharing feast of slow roasted beef rib, whole Asian style salmon or whole Chinese duck followed by a selection of desserts.

The Kurisumasu Set Menu at £35 brings Asian fine dining to Brighton’s Christmas scene featuring soup, sashimi and a trilogy of top class dim sum followed by the Yum Yum Ninja Grill; a tongue tingling option sure to delight even the most discerning food lover.

Yum Yum Ninja is now taking Christmas bookings for parties of 8 to 80, all festive party and dining needs can be accommodated without a turkey or mince pie in sight.

15-18 Meeting House Lane, Brighton, BN1 1HB 01273 326 330 www.yumyumninja.com

Christmas is coming at The Spread Eagle Hotel & Spa

Celebrate Christmas at Goodwood

We have a fabulous choice of private dining rooms - perfect for office parties and family get togethers. With roaring fires and twinkling lights the Spread Eagle is quite magical.

Christmas Dinner Parties - From £44 per person • 6–24 people in a private dining room • 25–90 people in our Jacobean Hall • Choose from a selection of three course Christmas party menus (available on request) • Half bottle of wine per person • Includes room hire • Christmas crackers

Christmas at Goodwood is a truly magical time of year, surrounded by gorgeous Sussex countryside and, cosseted in comfortable and relaxing surroundings, you will find that we have thought of everything in making this Christmas an extra special one to celebrate with colleagues and friends.

Christmas Join a Party Saturday 7 December, Thursday 12 December & Friday 13 December.

Join our festive merriment in the Cedar Suite with friends and colleagues; includes drinks on arrival, three course menu, party novelties and disco.

There is no minimum number to join this fabulous party and number of up to 120 people can to be taken From £42.50 per person

The Spread Eagle Hotel and Spa South Street, Midhurst,West Sussex, GU29 9NH 01730 816911 • www.hshotels.co.uk

The Goodwood Estate The Goodwood Estate, Chichester, West Sussex, PO18 0PX T: 01243 775537 • www.goodwood.co.uk

Christmas at Crowhurst Park

Christmas Parties at Ockenden Manor Hotel & Spa

Christmas at Crowhurst Park is a very special time. Set in a 170 acre country estate our Manor House is the ideal location for your Christmas party or Christmas day dinner. You are assured of a warm welcome in relaxing and elegant surroundings, with superb food and friendly service.

Looking for the perfect venue to hold your Christmas party - then look no further as Ockenden Manor Hotel & Spa is available for private parties throughout the festive period.

Buffet Option (£9.95 per person) or Sit Down Option (£19.95 per person) We are offering a Christmas Buffet Lunch throughout December. Ideal for families or company celebrations. You can dine in our restaurant or for larger groups we can offer our private function rooms. Buffets can be held in the evenings by special arrangement.

Crowhurst Park Telham Lane, Battle, East Sussex TN33 0SL Telephone 01424 773344 Email enquiries@crowhurstpark.co.uk

Fine Dining Christmas from £56.00 per person • 10-40 people - fine dining menu in Burrell.

• 10-21 people accommodated on a traditional long table set-up • 22 - 40 people accommodated on rounds of 10.

• Menus available on request. Prices range from £56.00 to £86.00 • Includes room hire and Christmas crackers • Special overnight bed and breakfast rates available. Host upgraded subject to availability.

Ockenden Manor Hotel & Spa Ockenden Lane, Cuckfield, West Sussex, RH17 5LD Tel: 01444 416111 • ockenden@hshotels.co.uk

Christmas at The Grand

Now taking Christmas Bookings Different Menu Everyday Fresh Ingredients Sourced Direct from Italy Daily Lunch Menu Beautiful Suntrap Garden 8 Bolton Road BN21 3Jx Eastbourne, East Sussex tel: 01323 723023 Find us on Facebook

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The Grand, Brighton is the perfect place to book your end of year conference or meeting. Plus, with any booking this December, we are offering you and your colleagues the chance to celebrate the festivities in style with a FREE Christmas party at The Grand all for just For just £149 per person.

Get in contact to find out what The Grand offer!

GB1 97-99 King’s Rd, Brighton, East Sussex www.sussexbusinesstimes.co.uk 59BN1 2FW Tel: 01273 224300 www.devere-hotels.co.uk

10/10/2013 15:50

Society SBT

The Rendezvous Celebrates the Launch of the Waterside!

The Rendezvous Casino celebrated the launch of its new “Waterside Bar & Brassiere” in Brighton Marina Village. There was a tremendous buzz as guests including many celebrities attended a fantastic evening and were entertained with some authentic cocktails, Complimentary Caribbean buffet, Live music and flamenco.

Rendezvous hostesses Sulema, Dominique, Monica and Mary

Cheryl Smith and Janette Suttle

Restaurant Manager Stephan Lamamy and Deputy Manager Daniela Bonati

Farrokh Sharifzad

Dave and Annette Day with Sue and Paul Day Karen and Richard Bidwell

Music from hot Cuban Band, SON GUARACHANDO

Susana

Anita and Chris Ellison

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20/09/2013 15:47

The 3rd Regis “Tap”

Shoreham Air Show 2013

Brilliant Sunshine and beaming smiles were the order of the day for Bognor Regis Motor Club’s third running of their charity Tour and Picnic sponsored by Orchard Restorations of Heathfield

Swingtime Sweethearts Le’arna Castle and Annie Riley

Competitors, complete with old fashioned moustaches, John Grail and Gerard Foothill

A DC3 Dakota

Plenty of exciting stunt flying from The Trig Aerobatic Team

A bacon butty and a chat before the event

RAF veteran Patrick Mead with Lyn James

Competitors Joanna Brown and Jess Carter

Studying the route

Rosemary Burgess and Christine Hunt from The Real Dad’s Army

Invaluable help from The Sussex Wing ATC

Patron of the show this year, Wing Commander David Arthurton O/C 617 Squadron, The Dam Busters Squadron

Patron of the show this year, Wing Commander David Arthurton O/C 617 Squadron, The Dam Busters Squadron

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20/09/2013 15:47

Home Grown Hero

Made In Sussex:

Retriever Web Solutions

SEO, or search engine optimisation, has gained something of a fishy reputation what with every companies inbox besieged with offers from India to ‘Make you number one on Google’ - now retriever web solutions are fighting back

Tired of the tarnished reputation SEO Brand can carry, Lancing Focus based Retriever Web Solutions was founded

by Stuart and Clare Marler in 2012 to prove that, carried out correctly, SEO can dramatically affect the success of a business. Whilst running a landscaping business, Stuart was stung by an unscrupulous SEO company and decided it was high time he invested some time to really understand the business. Whereas in years gone by, tradespeople relied on word of mouth and referrals to bring in the business, the current economic climate has led people to search online to find cheaper or comparable quotes.

Like it or not, the internet revolution has not only arrived, it has settled in, put its feet up, lit a pipe and decided to stay for the duration. Having optimised his own website effectively, Stuart’s experience was drawn upon from the Association of Professional Landscapers, who utilised his knowledge as the social media and SEO advisor on the committee. From these humble beginnings, Retriever was born.

From a small family business, Retriever has grown to include a new business team, account managers, a social media expert, a web design team and an analytics & paid search expert. For the uninitiated, perhaps a quick explanation of what SEO actually is.

In its most basic form, SEO is a series of techniques incorporating on and off page methods, as well as social media interaction, with the aim of increasing a business’s brand profile, driving visitors to their website/shop and thus increasing sales. This is of course a rather simplistic explanation, but such services break down into On-page Optimisation,

Linkbuilding, Social Media Campaigns, Website Design and paid search.

Retriever’s ethical approach to SEO has worked wonders for their clients.

One such client, Benchmark Windows, appointed Retriever in September 2012 as they were not appearing within the top ten pages on Google, despite their best efforts. Retrievers magicians went to work and they now appear on page 1 for 20 particular keywords and not only has this greatly improved their ranking but they confirm that their visitor numbers have increased by 111% and unique visitors have increased by 155%. Needless to say, their sales have increased dramatically. Another happy client is Sussex based embroidery company Wear Your Logo. Web sales are a crucial aspect of their business yet they were running a paid search campaign but not appearing in many search results. In the

five months since appointing Retriever, they now appear on page 1 for 26 keywords and visitors have increased by 80% over the same period last year.

Stuart and his team do not offer a one size fits all approach but rather a concentrated effort to understand their clients business and present a bespoke campaign that reflects the specific business goals, priorities and importantly, their budget.

Company growth comes off the back of solid hard work and an ethical approach and Retriever have proven this and are about to launch a sister company, Clareville 360, having joined forces with a well-established PR company, Clareville Communications. This union will allow both companies to offer a complete marketing service in-house, and therefore offering their respective clients joined up campaigns that service all their needs, from one reliable source.

Retrievers final piece of advice – Don’t ever be afraid to ask your digital marketing company what they are doing for you and always ask for references.

Speak to their clients as any quality company will be happy to provide you with this information. Do your homework, because choosing the right company could literally turn your business around.

RETRIEVER WEB SOLUTIONS Tel: 01903 250454 stuart@retrieverwebsolutions.co.uk www.retrieverwebsolutions.co.uk

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10/10/2013 11:28

Friends of the Albion Networking Group

Promo

al c o l t i ng

b

s with s e n i us

in Sussex

Join the Friends of the Albion Networking Group today and promote your business to over 130 other Member companies.

Enjoy monthly breakfast meetings with superb facilities at the Amex stadium and the chance to belong to the most interesting and enjoyable affinity group in the area.

Your business will also have a Member listing in every Albion home matchday programme.

01273 878278

Call Albion Commercial on or email commercial@bhafc.co.uk for more information.

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Reigate | Paddington | Farringdon

Digital Marketing Training Courses Google Analytics Conversion Optimisation Google Adwords SEO Social Media

jellyfish.co.uk/experts 0844 644 9836

Hannah Rainford Social Media Trainer

TM

Learn more, do more

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10/10/2013 11:30