Business Time in Essex magazine, Summer 2024

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Festival of Business Essex Has Talent BACK FOR 2024 Issue 32 | Summer 2024 Business Time Expert legal services and independent financial advice in Essex www.teeslaw.com Expect more care and expertise for all your commercial needs Call us on 01245 904 627

BUILDING ~ BETTER ~ FUTURES

with wood and disney : The Advisors to Ambitious Entrepreneurs

Wood and Disney are a tech savvy firm of chartered accountants who focus on building a better future for our clients, their families, their teams and their communities by giving jargon-free, pragmatic, best practice business advice.

We use our skills with numbers and experience in business to make a real difference to our clients’ lives knowing that as business owners you cannot rely on the government to look after you and therefore you are driven to achieve financial freedom in whatever form it represents for you.

Building Better Futures by its very nature involves the creation of assets. The most successful people focus first on accumulating business assets before they can reap the benefits of that success personally. Those business assets may be intellectual property, tangible assets, the best team, the best systems or perhaps the most important thing for long term survival, CASH.

Recessions occur regularly every decade or so, but the survival rate of small businesses is staggeringly poor with 20% failing in the first year, 60% failing within five years and less than 30% still being in business after ten years. This is backed up by Companies House data which tells us that the average age of UK companies is just 8.4 years and over 72% of the register are under ten years old.

So, when we talk about Building Better Futures our vision is:

To defy the norm of business failure statistics and help 100% of our clients not only survive more than 10 years but also create a genuine asset to pass on to another generation

Over the past four decades we have created a process called Your Journey to Freedom® with over 500 tried and tested resources and tools. This process is a best practice process for established businesses where the owner has either reached a plateau or has exploded with growth and is fearful of losing control.

Wood and Disney

Lodge Park, Lodge Lane, Langham, Colchester, CO4 5NE

01206 233170

www.woodanddisney.co.uk

www.yj2f.co.uk

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Eight rapid years and going strong

AVERY warm welcome to our summer issue. I can’t believe this is issue 32, bringing up our eighth anniversary. Where have those eight years gone!

When we launched, the Brexit vote had just taken place. Quite a lot of water has flowed under the proverbial bridge since then but I’m delighted to say we are still here, bringing together the Essex business community with a regular mix of news, views and information.

In this issue, we take a look at the opportunities brought about by working a four-day week but still getting paid for five. Sound good? If you’d like to join the ‘4gust’ pilot, have a look at pages 30-31. We also turn the microscope on the highly important but much-misunderstood subject of marketing in a special nine-page feature starting on page 33 Once you’ve digested what some of the county’s leading marketing experts have to say,

hopefully misunderstand it a little less!

We (well, I to be precise!) offer some thoughts on women-only support groups. I suspect my musings may prompt a little reaction, but nothing wrong with healthy debate! Take a peep if you dare on page 13.

As always, my sincere thanks to all those businesses, old and new, who make this magazine possible with their backing. If you’d like to join the ranks of businesses who promote their wares and share their knowledge through our humble pages, do give me a call. It’s always a pleasure talking with others about this great county of ours.

We’ll be back with our autumn issue on September 1. Before then though, enjoy the great British summer. Now, where did I put my fleece…

Richardson 01206 843225 or 07778 067614 peter@pjrcomms.co.uk

Vivienne Richardson 01206 843225

3915

DS Group 01255 221322 To advertise or feature in the next issue of BusinessTime in Essex, contact Peter or Vivienne as detailed above.

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 3
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Expert legal services and independent financial advice in Essex www.teeslaw.com Expect more care and expertise for all your commercial needs Call us on 01245 904 627 Business Time Alternative Specialists in commercial www.aquabridgelaw.co.uk 0333 405 0327 Thinking. legal advice
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The monster in the digital shadows: why businesses need cyber insurance

CYBERCRIME is not merely a nuisance, it's a formidable threat that can wreak havoc on businesses of all sizes. In the UK alone, cybercrime cost the economy an estimated £21 billion in 2023, and the figures continue to rise.

32% of businesses in the UK have experienced security breaches or attacks, with medium and large businesses facing even higher odds. And with the average annual cost of cybercrime per victim estimated at £15,300, the financial repercussions of a cyberattack can be devastating.

Not only do they bring about financial or data loss, but a cyberattack leads to business interruption, damage to reputation and an erosion of trust from customers.

So, what types of attacks are out there?

From sophisticated hacking schemes to deceptive social engineering tactics, cybercriminals employ a myriad of techniques to infiltrate systems and exploit unsuspecting victims.

Here are some examples:

• phishing attacks

• malware (viruses, ransomware, spyware)

• hacking

• identity theft

• online fraud

• denial-of-service (DoS) attacks

• cyberstalking

• social engineering

• insider threats

• data breaches

• BEC (Business Email Compromise).

Quite a list! And it’s a list that’s growing all the time, as the monster at the door continually comes up with new ways to defraud your business. So, what do you need to know in order to protect it?

One of the most effective weapons in the cybercriminal arsenal is social engineering, a tactic used in almost 90% of all data breaches. Whether it’s a seemingly legitimate email from your bank or a too-good-to-be-true offer, cybercriminals excel at manipulating human psychology to gain access to sensitive information. And, as the government acknowledges, combatting social engineering attacks is a top priority in the ongoing battle against cybercrime.

But the responsibility doesn’t rest solely on the shoulders of authorities. Businesses must also take proactive measures to defend against cyber threats.

Businesses should consider:

• implementing robust cybersecurity measures such as firewalls, antivirus software and intrusion detection systems

• regularly updating software and operating systems to patch known vulnerabilities

• educating employees about cybersecurity best practices, including how to recognise and report phishing attempts and other suspicious activity

• enforcing strong password policies and using multi-factor authentication

• securing network infrastructure with encryption and access controls to limit unauthorised access

• backing up data regularly and storing backups offline to mitigate the impact of ransomware attacks

• monitoring network activity for signs of unusual behaviour or unauthorised access

• Conducting regular security audits and risk assessments to identify and address potential vulnerabilities

• developing and maintaining an incident response plan to effectively respond to and mitigate the impact of cyberattacks.

But what if, despite all best efforts and practices, your business falls foul of a malicious cyberattack? You can’t close the door after the monster has bolted, so wouldn’t it be advisable to have protection in place before it advances? This is where cyber insurance steps in!

Who needs cyber insurance? The answer is simple: everyone. Whether you’re a small business or a multinational corporation, the threat of cybercrime looms large.

Cyber insurance is a vital lifeline in the fight against cybercrime. If your business uses technology in any capacity, cyber insurance is not just a wise investment, it’s a necessity.

From data breaches to business interruptions, cyber insurance provides comprehensive coverage against the myriad consequences of cybercrime. By investing in this kind of insurance, businesses can arm themselves against this insidious monster and emerge stronger and more resilient in the face of digital threats.

Quite simply, you should consider obtaining cyber insurance if your business:

• uses computers and email

• maintains a website

In the vast expanse of the online world, where every click, swipe and tap can open doors to both opportunity and risk, there lurks an insidious monster—cybercrime. It’s a constant threat that preys on the unwary, exploiting vulnerabilities with cunning and precision and for businesses, it's not a matter of if they'll be targeted, but when - as Matthew Collins, Director at Chelmsford-based Ascend Broking Group, explains.

• stores digital records of customer or employee information

• conducts electronic payments or transactions

• relies on cloud storage or cloud-based services.

Cyber insurance provides financial protection and support in the event of a cyber incident, covering costs associated with financial losses, data recovery, legal expenses, regulatory fines, business interruption and reputational damage.

As human error is often the weakest link in cybersecurity defences, with even the most vigilant employees falling victim to cleverly disguised phishing emails or other social engineering tactics, cyber insurance not only helps mitigate the financial fallout of such incidents but also provides access to resources and expertise to contain and limit the damage.

Cyber insurance also serves as a safeguard against the ever-evolving tactics of cybercriminals. As technology advances, so too do the methods used by cybercriminals to exploit vulnerabilities. A robust cyber insurance policy ensures that businesses are equipped to adapt and respond to emerging threats effectively.

But perhaps most importantly, cyber insurance offers peace of mind. Knowing that your business is protected against the unforeseen consequences of cybercrime can provide invaluable reassurance.

The online world may be fraught with peril, but with the right safeguards in place, businesses can keep the cybercrime monsters at bay. Cyber insurance is not just a precautionary measure, it’s a strategic imperative in the ongoing battle against cybercrime.

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 5
care and expertise for all your commercial needs Expert legal services and independent financial advice in Essex Expect more Call us on 01245 904 627 www.teeslaw.com Offices in: Chelmsford, Brentwood, Bishop’s Stortford, Saffron Walden, Royston and Cambridge Tees is a trading name of Stanley Tee LLP regulated by the Solicitors Regulation Authority. Registered in England and Wales number OC327874. Tees is a trading name of Tees Financial Limited which is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales number 4342506.

How Essex Chambers strengthens our business community

ESSEX is a unique place. It encompasses both coastal and rural landscapes, from large cities to country villages. The diverse geography of our great county perfectly reflects the wide and varied spectrum of business and industries that call Essex home.

As the only accredited Chambers of Commerce in the county, it is our sole purpose to support these businesses. In recent months it has been so rewarding to facilitate and attend several engagements that help to strengthen our business community.

My team and I work tirelessly to forge connections that will help our members and the wider economy to thrive. From our respected position we can bridge the gap between business and local or national governments, organisations and institutions. I’d like to take this opportunity to reflect on the recent work the Chambers has undertaken to help the region to flourish now and in the future.

As the premier business support organisation in Essex, the Chambers has access to high-ranking officials in various government departments or political roles. As an a-political establishment, we work with individuals and organisations across the political spectrum, where we ensure voices of local businesses are heard and escalated where necessary.

I recently welcomed Lord Dominic Johnson, Minister for Investment & Trade to Southend. During his visit, he attended a meeting at Olympus. A big thank you to Group Managing Director Kam Hunjan, at Olympus for facilitating the Minister and myself on his visit. We are delighted that Kam will be sharing his expertise on Building a Successful International Business at our upcoming Essex Global Summit on Wednesday 22nd May, please visit our www.essexsummit.co.uk to find out more.

In early April, I was delighted to facilitate a visit from Shadow Energy Secretary, Ed Miliband, to the Port of Tilbury. I welcomed

the Shadow Secretary and Jen Craft, Labour’s candidate for Thurrock, to the port and accompanied them on a tour with Carole Cran, Chief Commercial & Finance Officer at Forth Ports Group, owners of the Port of Tilbury.

Ed Miliband pledged Labour’s mission to ‘Switch on Great British Energy’ would help bring jobs to Thurrock. We witnessed firsthand the Port of Tilbury’s transition to 100% green energy and cleaner fuels. Part of Labour’s mission to Switch on Great British Energy is to invest in clean hydrogen and wind power, which the port could accommodate under its new plans. The potential of Tilbury to become a hub for sustainable energy innovation is undeniable and we look forward to seeing how such initiatives will benefit local businesses and drive forward economic prosperity and environmental sustainability.

I had the pleasure of welcoming members to a dinner at the House of Commons, with Gillian Keegan, Secretary of State for Skills, Julia Lopez, joint Minister of State for the Department of Culture, Media & Sport and Department for Science, Innovation & Technology and Anna Firth MP for Southend West. The meal was a great opportunity to debate directly with the Ministers on the skills agenda for Essex and the role our Essex Local Skills Improvement Plan is playing in this.

Pamela Cox, Labour’s Parliamentary Candidate for Colchester, and Darren Jones MP, Shadow Chief Secretary to the Treasury, recently visited the Innovation Centre, Knowledge Gateway in Colchester for a private lunch with myself and invited members. There was great discussion on issues such as taxation, freeports, the Lower Thames Crossing

Denise Rossiter, Chief Executive Officer of Essex Chambers of Commerce, looks back on recent community and political engagements.

project and Labour’s intentions to revitalise the economy.

In recent months it has been a privilege to attend fantastic events celebrating the incredible achievements of Essex businesses as well as exploring opportunities in developing areas in the county.

I was honoured to be asked by our Patrons c2c to compère its annual Pride Awards 2024 - a joyous evening that recognised and celebrated the outstanding hard work of c2c’s colleagues.

I also attended the opening of the new Finishing Line premises in Basildon. The official opening ceremony was carried out by Baroness Angela Smith of Basildon and Finishing Line’s Managing Director, Andy Mead. It was a pleasure be invited and celebrate the prosperity of our member.

Thank you to Tendring District Council for inviting me to speak at the Supporting Your Staff development event, created to share expertise with SMEs in the local area which recruit staff or are new to recruitment. It was the perfect opportunity for me to explain to the businesses gathered about our Domestic Abuse Awareness in the Workplace Now initiative and the support it can offer to their organisations. In collaboration with Essex PFCC and Practical HR Ltd, the DAAWN initiative aims to engage with business communities to remove the stigma and barriers to conversations that prevent abuse.

As we approach the halfway point of 2024, it’s wonderful to look back and reflect on how the Chambers has been able to support so many regional businesses. There’s much more to come, including the return of our greatly anticipated Festival of Business. More information on the next page.

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Essex Has Talent Festival of Business BACK FOR 2024

We are excited to announce the return of the much-anticipated Festival of Business for 2024. This unmissable event for entrepreneurs, job seekers, and business enthusiasts will take place on Wednesday 13th November at Chelmsford City Racecourse.

Each Festival of Business has a different theme and this year’s will be “Essex Has Talent”, which aims to showcase and celebrate the extraordinary entrepreneurial ability within the county.

Bigger than ever before we’re bringing our community a business extravaganza like no other, combining an exhibition, jobs fair, speakers and for the first time, the Essex has Talent – Best in Business Award.

The heart of the Festival lies in its expansive exhibition, a perfect platform for businesses to promote and connect with their wider community. The expo this year will have an even bigger impact as we introduce a dedicated Jobs Fair section. Whether you are on the lookout for a career move or seeking fresh talent in your business the Festival is the place to bridge occupational opportunities for both employers and job seekers.

The Festival of Business is where success meets celebration. More than a business expo it is an event that applauds and showcases the tremendous talent we have in Essex. Make sure you’re apart of the celebrations.

Visit our dedicated Festival website to find out how you can get involved with this year’s event and how to book your FREE visitor tickets.

Essex is picking up the gauntlet of the skills challenge

ESSEX is one of the largest areas in England, with a population of 1,863,300, 62.2% of whom are working age.

It is diverse, with one of the longest coastlines, rural and urban areas and some of the wealthiest and the most deprived parts of the country. Proximity to London is significant to the labour market, with high levels of commuting into the capital and other areas (10% of Essex residents travel more than 10km to work). Home working is now sizeable, with 32.1% of residents working from home.

A powerful aspect of the LSIP has been the galvanising effect it’s had on stakeholders and partner organisations across Essex. There continues to be an overwhelming collaboration of our colleges, providers, employers, and local authorities. With everyone working towards a common aim and clarity on local skills priorities, we are increasingly leveraging more funding, informing local provision and helping to shape new resource and activity far beyond the original scope. We are proud to say this local collaboration has been particularly strong in Essex and was even remarked on by former Skills Minister, Robert Halfon MP, in Westminster.

To support the LSIP priorities, the DfE’s Local Skills Improvement Fund (LSIF) was put in place and is a mix of capital and revenue funding. £5.5 million was awarded to Essex colleges with an additional £610,000 funding provided by Essex County Council.

Through such initiatives, Essex is truly leading the way and that entrepreneurial

spirit continues to shine. It is important to acknowledge the work set out in the LSIP is still in its early stages as we are just nine months into a three-year plan, so there is much still to achieve.

A lot of work is now embedded in the local skills approach and understood/ adopted by key stakeholders, who are all working towards the same goals through the LSIP. Long-term change takes time, but preliminary work is helping to ensure this will be sustainable and long lasting against future priorities.

In the short to medium term, here is some of the work underway:

3 sector groups have been set up, in which many Essex businesses are participating

3 new LSIF facilities in colleges to be completed by March 2025

3 Green Skills Hub to launch in June

3 apprenticeship toolkit to launch in summer 2024

3 employer toolkit to launch in summer 2024

3 new digital solution for careers to be rolled out in Essex

3 launch of new CEIAG platform creating virtual environments for students

3 launch of ‘Building a Lasting Legacy’ construction programme – September 24 (led by industry)

3 Spotlight on Success.

In addition to the above, engagement with employers has been particularly strong and this has taken place through

a range of activities such as events, surveys, forums and roundtables. Notably, the LSIP team is also a key part of skills planning for the future and important members of groups such as the Essex Inclusive Stakeholder Alliance, SEND Alliance Group and Essex Sport and Physical Activity Skills Advisory Panel. The National Chartered Institute for the Management of Sport and Physical Activity (CIMSPA) has fed back on how positive and proactive the approach to skills is in Essex has been, with the LSIP a key part of this. To help inform future skills needs, engagement is also strong with the Lower Thames Crossing Employment and Skills Group and with Longfield Solar Energy Farm Skills Supply Chain and Employment Steering Group. The latter has approved a project, Destination Renewables, to provide training relevant to the sector and to be delivered by Colchester Institute and Chelmsford College

Employer engagement is further illustrated by the strong response rate to the most recent survey which had 354 responses. This helps us to understand and articulate the ongoing recruitment challenges you are facing, with nearly 40% of respondents feeding back that they are struggling to recruit. Additionally, more than 20% of respondents fed back that they were experiencing skills shortages. Positively, more than

Joanne Giles and Andy Sparks provide an upbeat update on the progress being made by the Essex Local Skills Improvement Plan (LSIP).

75% said current qualifications in Essex met their needs and more than 60% said they could support a high-quality work experience placement. With more than 45% requesting further information, this represents a great opportunity to engage more employers in local skills.

Continued commitment from the Essex employers to support us achieve our objectives is vital, so our promise to you is, we will be in touch and invite you to help us continue our work in shaping the skills system in Essex, so you can benefit from a funded skills system that reflects both your needs and your priorities.

We will be publishing the full annual report at the end of June where we hope to update you on the progress that we have made and our continued priorities for 2024/2025.

Visit www.essexchambers. co.uk/lsip/ to find out more and get involved.

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Crawfords Group launches dedicated department to cater to professional and

Cestate sectors' machinery and fleet needs

RAWFORDS Group proudly announces the establishment of a specialised department aimed at supporting the machinery and fleet requirements of the Professional and Estate sectors. Spearheading this initiative is Dan Turner, appointed as Crawfords Group's Group Business Development Manager for Vineyard, Fruit & Professional.

With a comprehensive range of machinery and brands, Crawfords Group stands ready to assist local businesses across various sectors, including councils, estates, ground care, sports grounds maintenance, and more. As a conglomerate comprising Crawfords,

Massey Ferguson Tractors, Manitou Materials Handling Equipment, Isuzu Pick-Up Trucks, professional-grade gardening tools, and beyond.

"Our commitment to providing outstanding service and product support

is unwavering," comments Wes Crawford, Crawfords Group Managing Director. "Our team of extensively trained professionals in our sales, service and parts departments ensures that customers receive excellent customer care. Whether it's sales advice or after-sales support, our dedicated team is here to guide you every step of the way."

In addition to exceptional customer service, Crawfords Group prides itself on offering bespoke packages and fleet deals, providing customers with complete end-toend solutions tailored to their specific needs.

"Crawfords Group understands the unique demands of the Professional and Estate sectors," added Wes Crawford. "We are dedicated to delivering solutions that not only meet but exceed our customers' expectations."

Crawfords Group offers an extensive array of premium brands, including Fendt, Valtra, and

For all machinery and fleet requirements, Crawfords Group invites businesses to contact Dan Turner today for expert assistance and personalised service. daniel.turner@crawfordsgroup.co.uk 07596866231

Women-only groups: a help or a hindrance to reaching the top?

WRITING about gender discrimination in the business world immediately makes you a hostage to fortune. The spectre of people scrutinising my every word for evidence of sexual discrimination or male chauvinism looms large over my shoulder as I tap away on my keyboard.

So, can I get in a quick pre-emptive strike and stress the following musings are intended to generate an adult debate on what I consider an interesting and relevant subject – there, nothing like getting your defence in nice and early!

There are in Essex (and I’m sure the county is far from unique here) a number of women-only networking groups as well as an Essex County Council-backed initiative called Ambitious Women in Essex. Two initial observations here: first, why is there felt the need to create such women-only groups and, second, if similar men-only groups were created, would there be a calm acceptance that such groups were as necessary as women-only groups?

I am aware of some of the reasoning behind women-only business groups but have never been totally won over by the thinking – namely, some women find men generate a threatening and aggressive environment which destroys their confidence when attending business group meetings. Well, perhaps there are women who feel this way, but is not the answer to force the organisers of business groups to call out any individuals acting in a such a manner, rather

than setting up women-only groups. Besides, I know plenty of men who lack confidence when attending group meetings, so it's not an issue unique to women.

I can’t help feel creating groups to support only women merely reinforces the unfortunate and totally untrue myth that women are the weaker sex.

When I started out in journalism as a young reporter, I worked under four editors: two men and two women. All four were excellent in their job but, if anything, I had more respect for the two women – and probably more fear! From the very start of my career, I didn’t see men or women bosses – just very good bosses. In the intervening 40+ years in business, that thinking has never changed. I don’t see men and women – just people who are very good at their job and a few who are not so good. Whether they are men or women has never been remotely relevant to me, which is how I’d like to hope most people feel.

Creating business groups which define people by their gender, in my humble opinion, merely reinforces the unfortunate sexual bias still held by what I’d like to hope is an increasingly small, but still very unwelcome, minority. By suggesting women need special treatment or support places additional hurdles on their journey to the upper echelons of business management.

A recent report by Creditsafe – Exploring Women in Business: Statistics and Trends for 2024 – revealed that whilst there has been a 7% increase in female directors since 2019, the total number of companies with female directors accounts for just 35% of all active

Looking at business life with Editor, Peter Richardson

companies in the UK. In 2023, it reported 1,252,865 female company directors in the UK, and 3,138,993 male directors.

That’s a large gap which I’m sure can be explained away in multiple ways by many people far more clever than me. The question I would ask though is this: is that gap more or less likely to be narrowed by suggesting women need their own gender-specific support groups?

Don’t get me wrong: if gender-specific groups are welcomed and enjoyed by those attending them, that’s fine with me. But I do wonder whether for every woman who welcomes and utilises such groups, there are many more who feel their very existence undermines the highly desirable move towards genuine sexual equality and the final eradication of those remaining male dinosaurs who still regard the boardroom as no place for women.

What is needed is genuine equality of opportunity in the workplace, where a person’s ability to do the job is the only criteria needed within the selection process. I’m far from convinced that gender-specific groups do anything to help promote that equality of opportunity.

I’ll end with a quote from Liz Broderick, Australian Sex Discrimination Commissioner between 2007 and 2015 and an adviser to the United Nations, the World Bank and NATO. She said: “Gender equality is not a battle of the sexes, it’s a battle for equality, a battle that men and women must wage sideby-side.”

It’s difficult to fight the good fight side by side when you’re part of a group which, by definition, has been formed purely for women.

As always, welcome other people’s thoughts – particularly those women supportive of gender-specific business initiatives, and those women who think they perhaps do more harm than good.

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 13

TGo Ape and Away at Hylands Estate

HIS spring we were delighted to launch our brandnew Company Away Day packages, partnering up with outdoor activity and tree-swinging experts, Go Ape.

After opening its 35th facility – its first one in Essex – it felt like a natural fit to introduce something new and exciting that really brings out the best in your team.

How do we know? We tried it ourselves! Our team gathered on a sunny April day to trial run exactly what our clients would be experiencing, from a hearty breakfast to Tarzan swings.

We also sat and listened to our company updates and future plans, whilst being energised and fuelled by an onsite catered lunch. We all left the day raring to go for a new season of wedding and corporate hires.

Want to bring the best out of your team with our Go Ape Company Away Day packages? Here’s what we learnt from our team Away Day:

1. Get outside: by partnering with Go Ape, we have been able to gain the best of both worlds – the stunning setting of Hylands House, and the bountiful green space that surrounds us. The fresh air our whole team enjoyed really helped to refresh our minds and get to know one another again.

2. Food for thought: the activities experienced, whether up in the trees or problem-solving on the ground, require energy. Our catering, provided by onsite café The Deli Hylands, was nutritious, satisfying, and provided sufficient fuel to keep our focus on the task at hand – fun!

3. Something for everyone: to create a comfortable environment

for everyone to enjoy their day, the team was split into two groups based on their preferences. The treetops group were given a special express route through the trees at Hylands, and the lawn games group were given plenty of effective teambuilding and problemsolving activities. With no pressure on either team to do anything they’re not comfortable with, we all felt relaxed and confident throughout the day.

Thomas Woodards, Events & Business Development Manager at Hylands Estate, shares the fun and games of its latest offering, Go Ape.

4. Get together: at the end of the day, the team was energised and ready to absorb the updates we had prepared. Room hire for this purpose is part of the Company Away Day package, so we made sure we experienced it just as our clients would.

5. Take the good times with you: don’t let your day finish at Hylands

Estate, make sure you capture the moment and take it away with you! We had a photographer on site so we could help promote the Away Days, and it’s been a wonderful way to reflect the day with the rest of the team. Grab team pictures, print them out, and remember why it is you all love to do what you do.

As the weather improves, we’re hoping to see even more of our clients enjoying the great outdoors on our doorstep. Enquire with us today, you’d be bananas to miss out!

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Make a new will – save a tax bill

INHERITANCE tax (IHT) is charged on a person’s assets on their death. As the total value of estates above £325,000 is taxable at a rate of 40%, many consider taking advantage of the various reliefs available to reduce the tax bill and consequently increase their beneficiaries’ inheritance.

One of the most valuable reliefs for business owners is business relief (BR), formerly known as business property relief. If the conditions are met, careful consideration should be given as to how to maximise its value.

Assets that pass to a spouse on death do so free of IHT. Assets passing to other beneficiaries, such as children or a business partner, are chargeable to IHT. This means, to avoid a charge to IHT on the first death, married couples and civil partners frequently have wills leaving everything to each other. Typically, their children then receive their assets when the surviving spouse dies.

However, by leaving all the assets that qualify for BR to a spouse or civil partner, an opportunity to take advantage of the relief is wasted, as the spousal exemption will already

exempt these assets from IHT.

Although BR has been part of the IHT framework for decades, its existence and the rules governing it are not immutable. In the period between the first to die and the death of the surviving spouse or civil partner, IHT can be subject to changing political and taxation priorities. It might be advisable to take advantage of BR while it is available. This can be achieved by drafting a will that passes business assets to someone other than a spouse or civil partner. This crystalises the availability of BR on the first death rather than risk BR not being available on the second death.

Testators may not be certain whether their spouse or civil partner will require the business assets, or whether it is suitable for their children to inherit the business. In these circumstances, they can include a discretionary trust in their will into which BR assets are placed. As no beneficiary has an automatic right to the assets, the testator can include a wide range of potential beneficiaries of the business assets.

If, on the testator’s death, HMRC agrees that BR applies to the deceased’s business assets, no IHT will be chargeable on these

UNLOCKING YOUR POTENTIAL

Moore Kingston Smith LLP is one of the top 20 accountancy and audit firms in the UK with a focus on owner managed businesses.

Highly invested in the local business community, our Romford team are members of the Essex Chamber of Commerce and work with local companies to stimulate sustainable prosperity for Essex.

Our Romford team offers:

• Dynamic tax planning and advisory services

• Strategic business advisory

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Alison Morris, a partner in the private client legal team at leading accountancy firm, Moore Kingston Smith, offers advice on the complex issue of IHT.

assets. Also, while BR continues to apply to the assets, there will be no ongoing IHT charges to which discretionary trusts are normally subject. This means the trustees can choose to transfer the business to the testator’s children free of IHT.

If BR does not apply to the business, the trustees can transfer the business assets to the surviving spouse or civil partner within two years of death. Doing so will mean the spousal exemption will apply, so there will be no IHT to pay until the death of the surviving spouse or civil partner.

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 15
Get in touch today T +44 20 4582 1000 20 Eastern Road Romford RM1 3PJ

In motorsport at least, if you want to know what makes the wheels go round, then the answer is research and development

According to a paper by Coventry University’s Research Centre for Creative Economies from 2014, the UK’s motorsports supply chain was worth £9 billion a year back then, employing more than 40,000 people. It has only grown in the decade since.

The three key areas of formula 1, formula E and endurance-car racing all present different challenges – and the UK is a world leader in all of them. It all harks back to the proliferation of automotive firms that sprang up here after World War Two, according to Chris Aylett, chief executive of the Motorsport Industry Association.

Although few of them survived, the many engineers’ love of racing lived on through the UK’s thriving motorsports scene. “In every one of them their R&D department was really their motorsport department,” said Aylett.

“Every weekend they would try something new, come back and put it on their cars. As those companies closed down, those people in their R&D departments decided to continue earning their living in motorsport. Britain had this fabulous resource of R&D-based automotive engineers who loved competition.”

The story continues today, with R&D constantly pushing the boundaries of what is possible on a racetrack or road. One of the most famous names of all the UK’s motorsports teams is McLaren, best known for its f1 exploits with its 12 drivers’ championships and eight constructors’ championships.

United Autosports will bring McLaren back to Le Mans

But McLaren has tremendous heritage in other disciplines too. Not least at the 24 Hours

of Le Mans, where in 1995 they ran a road car – the pioneering McLaren F1 GTR – to a famous victory. The race was the highlight of a memorable road trip that saw the car drive from the UK to Le Mans and back across the motorways and autoroutes.

Now, after a near-30-year break, McLaren will be hoping to repeat the feat at this year’s Le Mans. The race team has entered two cars in collaboration with United Autosports, a former winner of the FIA World Endurance Championship that was founded in 2009 by the current McLaren chief executive, Zak Brown.

Those cars, McLaren 720S GT3 Evo models, will run throughout the Endurance Championship season. And while they do, they will carry the logo of the Chelmsford based R&D-focused tax consultancy RDA on their tailwings.

R&D accelerates autosport

It is a (partial) dream come true for RDA’s founder, Kevin Auchoybur. “I grew up watching the great f1 battles involving the likes of [Alain] Prost and [Ayrton] Senna, all the while dreaming of one day racing an f1 car at Silverstone and the Nürburgring myself,” Auchoybur told Business Time in Essex.

16
To find out more about how RDA might be able either info@randdadvisors.co.uk or 033 33 444 RDA’s Kevin Faulkner with Autosports’ The racing giant’s return to supported by Chelmsford MCLAREN
TOGETHER
DEVELOP

AND RDA TOGETHER

“It never happened for me. Those who can, do. Those who can’t – if they’re lucky – sponsor it!”

RDA has been closely involved with United Autosports for several years. Its association began in 2020 with sponsorship of the former Ginetta Junior Championship winner and United Le Mans driver Tom Gamble, who is himself now a factory driver with McLaren.

It also sponsors Charlie Fagg, who won the 2021 GT4 European Series in a McLaren 570S and the 2023 GT Open Championship in a McLaren 720S GT3. It has proved the perfect fit, and now RDA provides its tax-consultancy services to many leading teams in the UK motorsports industry, helping them recover tax relief for their cutting-edge R&D.

RDA’s support for drivers is no gamble

The experience has been hugely beneficial to RDA in developing its expertise in the advanced-manufacturing industry. “We are delighted to be the trusted partner of so many world-class teams in motorsport,” said Auchoybur. “It brings a depth of experience of how R&D is conducted at the very highest level that we are also successfully transferring to the other sectors we serve.”

The benefits are mutual, as Aston Millar, another driver in the RDA sponsorship stable who drives a McLaren Artura trophy car in the McLaren Trophy explains: “Being a young driver in motorsport, it can be difficult to position yourself in the right area to further your career. But with RDA behind me, it helps me build my profile with the support and backing required to achieve my goals.

“In return, due to my relationship with a manufacturer such as McLaren, I always do my utmost to nurture any relationships for RDA so they can achieve a return on their investment in me.”

It certainly seems RDA, McLaren – and autosport in general – really do develop together.

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 17
able to help your business grow, contact them on 444 026, or visit their website, www.rda.co.uk Kevin Auchoybur and Nicola with Richard Dean, United Autosports’ co-owner
endurance racing will be Chelmsford firm MCLAREN
to
18

Claire Read's path to Legal 500 Hall of Fame

CLAIRE Read’s sustained professional prominence matches her acclaimed reputation. As a Partner of Essexbased law firm Birkett Long, Claire’s induction into the Legal 500 Hall of Fame is a testament to her remarkable standing and that of her firm.

As the Head of Birkett Long’s Private Client Department, Claire’s expertise and guidance helps her four teams across as many offices continually foster innovation.

Specialising in wills, inheritance tax mitigation, trust creation, and estate administration, Claire extends her services to clients with overseas property. Prior to her Hall of Fame entry, Claire had been recognised as a leading individual in the Legal 500 directory for several years. She holds full professional memberships in the Society of Trust and Estate Practitioners (STEP) and Solicitors for the Elderly. Additionally, she is the deputy chair of the Essex branch of STEP and serves on its disciplinary panel.

Claire is on the Mid Essex Local Business Strategic Committee and has become a sought-after speaker on BBC radio, providing legal advice to listeners, and offers seminars to professional groups.

Claire’s journey into law commenced when she began as a legal secretary in 1990. This experience sparked her interest, leading her to qualify as a solicitor in 2000. Reflecting on her career to date, Claire finds satisfaction in assisting clients during probate proceedings and offering complex tax and trust advice, which has led to substantial savings for her clients and their families.

Beyond her professional commitments, Claire supports local charities. She has been a trustee of the Essex Community Foundation for eight years. She served as the honorary solicitor for the Mid Essex Hospital Charity Trust, as well as work supporting MENCAP, Age UK, and Pride.

Claire’s elevation to the Legal 500 Hall of Fame highlights her dedication and client-

focused approach. For 33 years, The Legal 500 has been analysing the capabilities of law firms worldwide. Its comprehensive research programme is revised and updated every year to bring the most up-to-date vision of the global legal market.

Claire shared her thoughts on this milestone Hall of Fame achievement, offered insights into her career journey, and offered advice for aspiring solicitors.

“It was a tremendous honour, particularly as the Legal 500 recognition comes from the feedback of my clients. I am especially proud to be Essex’s only Hall of Fame Personal Tax, Trusts, and Probate Solicitor.”

When asked about the key to her success in leading her teams to Tier 1 rankings in The Legal 500, Claire said: “Delighting clients and fostering a motivated and highly skilled team have been fundamental to our achievements.”

Reflecting on the accomplishments that led to both personal and team recognition, Claire said: “Attention to detail and unwavering client focus have been critical. The Legal 500 has acknowledged

our commitment, and I’m grateful for the acknowledgement.”

Claire’s journey into law began unexpectedly, as she explained. “I stumbled into law by accident, starting as a legal secretary in 1990. This experience ignited my passion for the profession, and the rest, as they say, is history.”

When asked about her proudest accomplishment, Claire added: “This accolade and the establishment of a highly regarded and successful team from the ground rank among my proudest achievements.”

Claire emphasised the essential qualities of a solicitor. “Dedication, organisation, hard work, and a genuine desire to help others are indispensable. A passion for the law also greatly contributes to success.”

In closing, Claire offered valuable advice to those starting in law, stating: “Resilience is paramount in the early stages of your career. Explore various areas of law to discover your passions before making a definitive choice.”

Claire Read’s commitment to her profession is exemplary, and her recognition in the Legal 500 Hall of Fame is well deserved.

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 19

IAward-winning university can help unleash your business potential

N today's VUCA (volatile, uncertain, complex and ambiguous) world, staying ahead of your competition demands a constant stream of fresh ideas, skilled talent, and a relentless commitment to innovation. But where do you begin?

Helping and supporting the industry and the region of East of England remains a key mission of Anglia Ruskin University, recently awarded the University of the Year 2023 by Times Higher Education. This prestigious award honours 'exceptional performance during the 2021-22 academic year', and ARU’s success in delivering highimpact projects during this period.

As a business partner, we provide a comprehensive range of customised solutions to fuel your success journey by leveraging our extensive network, academic expertise and the talent pipeline.

You can future-proof your talent pipeline by tapping into a pool of bright, enthusiastic students by accessing our ARU internship programme. These interns bring fresh perspectives and innovative approaches to your projects, while gaining crucial work experience that benefits both parties. Internships can be tailored to your specific needs and timeframe, potentially leading to long-term employment opportunities.

Businesses who have had interns from us talk about the surge of enthusiasm, specialised academic knowledge, short-term project support, access to top talent, and reverse mentoring opportunities that is brought by our students. These engagements not only strengthen your workforce but also forge lasting connections with ARU, ensuring a steady pipeline of skilled graduates.

ARU's expertise spans diverse industries. We foster multidisciplinary teams that contribute to building safer communities, creating sustainable solutions and driving improved health and performance outcomes. Our Knowledge Transfer Partnerships (KTPs) offer a unique opportunity to integrate strategic R&D projects into your organisation. Co-funded by Innovate UK, KTPs involve employing a qualified postgraduate student alongside your team, fostering innovation and a competitive edge. Additionally, we offer contract research services to help you explore new challenges and bring fresh ideas to life.

The Students at the Heart of Knowledge Exchange (SHoKE) initiative leverages the power of student volunteerism. Through SHoKE, students actively participate in co-creating solutions that impact your operational and strategic decisions. This collaboration provides you with valuable insights and direct access to ARU's extensive academic resources, all streamlined by our dedicated staff.

Mohammad Ali, Pro Vice Chancellor and Dean at Anglia Ruskin University (ARU), explains how the award-winning university can help unleash your business potential and empower your company's growth.

The business landscape is constantly evolving, and ARU is here to equip you with the tools and talent you need to thrive. Our services provide a holistic approach to talent acquisition, skills development, and fostering a culture of innovation. From internship programmes and work placements to student-led projects, recruitment support, and collaborative research initiatives, ARU offers a unique value proposition. Partner with us to unlock a world of fresh perspectives, cutting-edge solutions, and a direct pipeline to the next generation of business leaders. Let's work together to propel your company towards a future of excellence.

20 Expert support and advice whenever you need it. larking-gowen.co.uk BusinessTime in Essex_Half page_190x131.indd 1 13/02/2024 10:36:36

Mr Ramsey’s squat problems in London

YOU may have read in the press that Gordon Ramsey has found himself in an unenviable position, in that his vacant London pub has become occupied by squatters.

These squatters vow to remain and have boarded up the windows and put up a “legal warning” outlining their occupation of the pub. So, what do you do when you get squatters in commercial premises?

If you have a right to possession you can apply for a possession order. You will need to establish to the Court that the occupation is without your consent and front load your claim with witness evidence surrounding the squatters’ occupation. A claim is usually required to be made against ‘persons unknown’ as the identity of the squatters is often a mystery. Once the claim is issued by the Court, it is down to you (or your legal representatives) to ensure it is properly served. The service provisions for claims against persons unknown is onerous and requires the claim and notice of hearing to be attached to the property or attached to stakes on any open land.

Often, that is not enough to convince squatters to leave and attendance at a

possession hearing will be the next step. If possession is granted, and the squatters still do not leave, you can apply for a bailiff to attend, with a locksmith, to empty and secure the building. You can apply for possession and a bailiff in either the County Court or the High Court. A claim in the High Court for possession requires there to be a substantial risk of public disturbance and serious risk of harm to persons or property – which is a higher bar than in the County Court but might be quicker.

This process can be time-consuming with proceedings sometimes taking months to resolve. There is a faster option, though, provided you act quickly – but it is not without its own issues. This is known as an interim possession order. This requires the claimant to have an immediate right to possession and a right to possession for the entire period that the squatter has been in occupation. This might pose an issue for freeholders who have let the property under a lease for a period of that occupation. You must make this application within 28 days of becoming aware of the squatters and serve the claim within 24 hours of the application being made.

Failure to comply with an interim

Molly Frankham Associate, Solicitor within the Dispute Resolution team at Ellisons Solicitors, looks at what can be done to remove squatters in commercial premises.

possession order, in that failure to comply means you can call the police who will arrest the squatters. However, the willingness of the police is not a certainty which makes it a quicker, but slightly more risky, option. This is probably why Mr Ramsey, via his company Gordon Ramsey Holdings International Limited, went for a possession order through the High Court.

The key to dealing quickly and efficiently with squatters in commercial or residential premises is to act quickly and seek early

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 21
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Reasons to consider gifting some shares in your trading company into a family Trust

GIFTING trading company shares to a Trust enables you to pass capital and income out of your Estate whilst still protecting the shares for family members listed as beneficiaries of the Trust.

Assets and income of a Discretionary Trust are not owned by the beneficiaries and are paid out at the discretion of the Trustees, they are protected from the following:

• creditors should a beneficiary fall into financial difficulty

• being lost to the family in the event of a divorce of a beneficiary

• being wasted on depreciating assets and unsuitable investments.

A Trust will also enable a shareholder to give away the capital value of shares but still retain some voting control over those assets in their role as Trustee. A Trust can last for a maximum of 125 years protecting the assets for multiple generations.

Trading company shares can typically be passed down between individuals without triggering an immediate Capital Gains Tax (CGT) or Inheritance Tax (IHT) charge. If this is not suitable due to the protection issues discussed above, a Discretionary Trust can be considered.

Unquoted trading company shares generally qualify for

Business Property Relief (BPR) for Inheritance Tax purposes. This may be subject to change, particularly in the event of a change of Government, you can therefore gift these shares into a Discretionary Trust whilst they do qualify for the relief.

If the trading company may be sold in the future it would be worth considering a transfer of some shares into Trust now whilst the shares qualify for BPR. This enables a percentage of value to be removed from your Estate earlier. Unlike gifting the sale proceeds, a gift of qualifying shares will not be limited to an individual’s nil rate band of £325,000 (after which a lifetime tax charge of 20% arises on the value of a gift of cash and certain other assets into Trust).

Whilst the Trustees would pay CGT at 20% on a subsequent sale of these shares, this is the same rate as an individual would pay on proceeds above £1m since the Business Asset Disposal Relief

Jamie Nice, Tax Director at leading Essex accountancy firm, Rickard Luckin, considers why a shareholder of a trading company might consider gifting some of their shareholding to a Trust.

lifetime limit was reduced. Such a gift would still be subject to 7-year survivorship to ultimately be effective for IHT, as would a post-sale gift of cash proceeds, but under the Trust route the time clock would start much sooner, often many years in advance.

If a trading company has a market value of £10m, the husband-and-wife shareholders gift 25% of the shares to a Discretionary Trust for their adult children and grandchildren, as the shares qualify for BPR there is no IHT charge on the gift into Trust. A CGT charge is likely to arise, but this can be deferred by a holdover relief claim. If the business is subsequently sold, then the Trust will receive £2.5m of the proceeds which is outside of the individual shareholders Estate for IHT, this is almost £2m more than they would have been able to shelter from IHT if they instead had retained all of the shares until a sale and then gifted

cash equivalent to their nil rate bands (£325k each) out of their sale proceeds.

Trusts can be used in a similar way if due to the company’s retained funds, or future plans, it’s likely that it will lose its trading status. Placing the shares into Trust before that change can bank the BPR now and result in a larger value being moved from your Estate into Trust before the status of the company changes.

Trusts can provide a very tax efficient means of paying for school and university fees. Dividends paid from a trading company can be an ideal way of funding these costs. All individuals (including minors) receive a personal income tax allowance and dividends received by a Trust that are subsequently paid out for a beneficiary will ultimately be taxable on that beneficiary.

This can be very useful where grandparents own a trading company and wish to contribute towards grandchildren’s school and university fees. Some shares can be gifted into Trust and then dividends voted on those shares to cover the required fees, payable directly from the trust to the school. It is likely that the grandchildren will have no other income, dividends can be covered by their personal allowances in full, or be subject to basic rate dividend tax of 8.75%. If the grandparents had paid the fees from their own taxed income, they could have suffered tax at a rate closer to 40%. This strategy is only appropriate for grandparents and not parents.

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 23

Just a moment!

WE started working with a new client in January. The senior leadership team had recognised they needed to change their culture, which the HR Director described as being ‘a bit siloed and stuck in the 1970s’.

At our first meeting, (we had five) the CEO said a few words to introduce my colleague and me, then he invited those round the table to contribute to the ‘safety moment’. They’re high-end manufacturers with some massive bits of equipment and it transpired that all meetings started with a mandatory safety moment. Fair enough.

Someone muttered something about remembering to keep the screen wash in our cars topped up in the chilly weather. Hmm…

Two things became apparent at that first meeting. While this was a fabulous bunch of 18 leaders (passionate about their product, knowledgeable and

innovative) they just moved from one challenge to the next without ever stopping to reflect on their successes and they never – ever - complimented or thanked one another for a job well done.

We implemented a ‘celebration moment’. We brought chocolates to the remaining four meetings (Celebrations, although other brands are available!) When it was time for coffee, we sprung open the chocs and, as they munched, we asked the group to reflect on their successes since the last time we’d met.

And we implemented a ‘gratitude wall’. We asked everyone to look round the table (about 15 people), identify at least one person who had helped them or done something good during the past week, write them a quick thank you note on a PostIt note and slap it on the wall.

A lot of people were uncomfortable and ignored the wall after they had done what we asked. It was clearly not cool to look at the

wall to see if someone had said something nice about you! In fact, some of the thank-you notes were a bit Smart Alec.

We published all the notes.

Next meeting we did it all again. This time several people wrote more than one thank you note. These were overwhelmingly genuine and many were quite specific. No Smart Alec stuff this time!

Lis McCormick, director at Essexbased McCormick Consultants Ltd, urges business leaders to take a moment to create a moment.

No one complained or even commented.

We did it again at the fourth meeting. At the fifth meeting, we ‘forgot’ to bring PostIt pads and asked people to say their thanks directly to one another. We were cruel - when people started muttering to their feet, or started to tell my colleague and me what great things a colleague had done, we chorused ‘look at them … tell them’. They did!

We also skipped the ‘safety moment’ at our fifth meeting.

Introducing simple things like a gratitude moment and a celebration moment are important building blocks when evolving your culture. They gently show the impact of moving from ‘rote’ to ‘real’ in the way leaders communicate with one another. What moments could you introduce that might benefit your team dynamics and help nudge your culture into a healthier space? Please don’t talk about screen wash!

ww w.essex.gov.uk/tradingstandards trading.standards@essex.gov.uk

24 ance ecnailpmoC ecivda morf eth repxe st

UK insolvencies hit 30-yearhigh

AS a director of a business, the need for expert legal advice in these tough economic times is more crucial than ever.

IT is widely known that rising costs and interest rates, compounded by the cost-of-living crisis have made it extremely hard for business owners to operate in the same way they would have a few years ago.

With experts stating the latter half of 2024 is likely to continue in the same fashion, it is important businesses are aware of the options available to them when hitting hard times. Insolvency doesn’t always mean you have to give up your business via liquidation.

At Tees, our team guides a wide range of stakeholders dealing with financial challenges, including insolvency practitioners, corporations, boards of directors, lenders, investors, business buyers, and individuals. We address various issues that may arise due to financial strain and distress.

In these tough economic times, more businesses than ever are feeling the financial strain. For many, insolvency is a genuine threat. If your business is facing this prospect, you need expert advice, and you need it fast. Talking to an insolvency expert will be your first step towards navigating your way through what can be a complex process.

Here’s how insolvency expert solicitors can help directors.

Legal advice and compliance: advise directors on their legal obligations and duties under insolvency law, ensuring they comply with all relevant regulations and avoid personal liability for any breaches.

Assessment of options: assess the company's financial situation and help directors understand the available options, such as restructuring, refinancing, CVAs, administration or liquidation. We can provide guidance on the most appropriate course of action based on the circumstances of the company. In certain circumstances, insolvency legislation can be

utilised to preserve all or part of the business of a company.

Negotiation with creditors: negotiate with creditors on behalf of the directors to try to reach agreements for repayment plans, debt restructuring or other arrangements that can help alleviate financial pressure and avoid insolvency.

Administration or liquidation procedures: if the company needs to enter administration or liquidation, we can guide directors through the process, including preparing the necessary documentation, liaising with insolvency practitioners and ensuring compliance with legal requirements. Whilst the company will be placed into administration or liquidation by an insolvency practitioner, it is important to remember their duty, once appointed, is to creditors. The director’s legal advisor’s duty remains to the director.

Protection of director's interests: we can help directors protect their personal interests during insolvency proceedings, including advising on potential liability risks, defending against wrongful trading allegations and ensuring proper disclosure of information to stakeholders. Looking at potential acquisition of parts of the business via prepack and advising upon processes which may allow the business name of the failed company to be reused by the director.

Claims against directors: the liquidator’s duty is to seek to bring funds into the liquidation. This may include pursuing claims against directors. We can help you explore available defences and defend such claims.

Director disqualification: in certain circumstances, directors may be faced with a claim they should be disqualified from being a director for a period and to pay compensation for conduct perceived as justifying disqualification. We can help defend against such claims.

Personal guarantees: often, during their business, directors have given personal guarantees for the liability of their company. We

According to figures released from the Government at the start of this year, the number of companies that entered insolvency in 2023 in England and Wales hit a 30-year high –the highest number since 1993. David Perry, Partner, Dispute Resolution and Litigation at Tees Law, addresses what businesses need to consider.

can assess the validity of such guarantees and, if valid, assist in negotiating a settlement.

Employee rights: if the company is facing insolvency, we can advise directors on their obligations to employees, including redundancy payments and compliance with employment law.

Litigation and dispute resolution: in cases where disputes arise with creditors, shareholders or other parties during insolvency proceedings, we can represent directors in negotiations or litigation to resolve conflicts and protect their interests.

Restructuring and turnaround strategies: we can assist directors in developing and implementing restructuring or turnaround strategies aimed at returning the company to financial stability and avoiding insolvency.

It’s important to get expert legal advice as soon as possible. Our team can provide invaluable legal expertise and support to directors navigating financial distress or insolvency, helping you make informed decisions and mitigate risks throughout the process. Our team includes members of R3, the country’s leading organisation for insolvency and restructuring professionals.

Entering insolvency can be a distressing and difficult time for all involved, whether it’s the company director, partners, shareholders or staff. Having legal protection and representation from the very beginning of entering such times is imperative to not only ensure you are following the correct protocol, but also to protect yours and your company’s best interests. We exist to guide you through the process and, often, we can help companies out of a dark place and help them to continue trading, rather than simply be there to assist with the closure of a business.

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 25

When it comes to running a business we understand that it’s the personal touch that counts.

Running a business can be complicated, so ensuring that you have the right team to support you and your business has never been so important.

With over a hundred years of experience working with clients, our dedicated team of accountants, auditors, corporate finance and tax advisers are on hand to assist you every step of the way.

Call our team today to find out how they can help you look after the things that matter to you and your business.

0330 058 6559

scruttonbland.co.uk

@scruttonbland

0823/05/2024/MKTG
BECAUSE WE ALL NEED SOMEONE WE CAN RELY ON

Embracing data mastery for competitive advantage

BY developing data and analytics skills, particularly within management and finance roles, organisations can experience substantial improvements in decision-making and financial management.

Data analytics offers management the tools to make more informed decisions, predict market trends and better understand customer behaviour. For finance professionals, these skills improve forecasting accuracy, risk assessment, and reporting. These capabilities enable Essex businesses to be more agile, strategic, and responsive to market dynamics.

One of the key challenges is the perceived complexity and cost of adopting big data technologies. However, the emergence of no/ low code solutions has significantly democratised access to advanced data analytics.

Tools like Excel, with its robust data analysis toolkits, and Microsoft PowerBI, a leader in business analytics services, allow professionals with minimal programming expertise to perform complex data analyses and create rich visualisations.

The strategic benefits of enhancing data analytics capabilities are clear:

• improved efficiency: automation of data collection and analysis speeds up

processes and reduces the likelihood of errors, allowing managers and finance professionals to focus on strategy and innovation

• enhanced decision-making: with better data insights, businesses can make decisions that are more aligned with market needs and operational capabilities.

• cost reduction: effective data analytics helps in identifying cost-saving opportunities and avoiding financially unsound decisions

• increased revenue: by understanding customer preferences and market trends, companies can tailor offerings to maximise profits.

Pitman Training stands as an ideal educational partner for organisations aiming to enhance their analytics capabilities, having developed a widereaching programme capability in conjunction with corporate partners such as Amazon.

Our programmes focus on practical applications and real-world scenarios. From Excel training that covers everything from basic functions to complex data models, to data visualisation courses using PowerBI, our curriculum is designed to equip your team with the skills needed to leverage data effectively.

By partnering with Pitman Training, Essex businesses gain access to expert instructors, flexible learning formats and the latest educational resources. More importantly, they place themselves at the forefront of business

The ability for Essex businesses to harness and interpret vast amounts of information is no longer a luxury but a necessity. Fortunately, solutions are readily available and quick to implement, as Chris Hodson, Programme Director at Pitman Training in Essex explains.

innovation, ready to harness the power of data to drive success.

Investing in data and analytics training is not just about keeping up with technology—it’s about taking steps to secure a competitive edge. Pitman Training can help bring this capability to life.

Embrace the data revolution and transform your business performance through educated, empowered decision-making.

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 27 Our JustGiving page As part of our 260th anniversary, we are doing a fundraising challenge to raise funds for the Essex Wildlife Trust and The Brain Tumour Charity in memory of our late colleague, Joe Brightman. FUNDRAISING FUNDRAISING C H A L L E N G E C H A L L E N G E 2024 2024 www.ellisonssolicitors.com Ellisons Solicitors is a trading name of Ellisons Legal LLP Ellisons Legal LLP is authorised and regulated by the Solicitors Regulation Authority (SRA Number 8001031) Y E A R S 260 C E L E B R A T I N G

Businesses drive our economy and communities forwardthat’s why the North Essex Economic Board (NEEB) has fully funded support programmes designed to help your business survive and thrive.

NEEB is a partnership of Braintree, NEEB is a partnership of Braintree, Tendring, Uttlesford, Maldon and Epping Uttlesford, Maldon and Epping Forest and Harlow District Councils, Forest and Harlow District Councils, Chelmsford and Colchester City Council and Essex County Council. and Essex County Council.

To find out more about fully funded support programmes from NEEB, visit www.NEEB.org.uk

Fully funded support Fully funded support for your business in for your business in North Essex North Essex Digital Skills
learning 1:1 Advice with a Business Mentor Dedicated Business Support Finance & Debt support Support
Carbon Reduction Finding further support
and
with
How can your business benefit?

Is it time to reflect on the culture of your organisation?

be described as collaborative, oriented, hierarchical, innovative, inclusive or bureaucratic, among

The impact of organisational culture on business performance is profound. A strong, positive culture can foster employee

satisfaction and overall business

micromanagement, favouritism, resistance to change, fear or lack of transparency can hinder and collaboration, ultimately

Guest columnist, James Pinchbeck, Partner, Streets Chartered Accountants, delves into company culture – and what that culture tells us about a company .

their onboarding experience, integration into the company and long-term engagement and

satisfaction. A positive culture can facilitate smoother transitions and help new hires align with company values and expectations.

Assessing organisational culture involves analysing various factors such as employee attitudes and behaviours, management practices, communication patterns and alignment with organisational values and goals.

While leadership plays a crucial role in setting the tone and direction of organisational culture, every individual contributes to its formation and evolution. However, senior executives and managers bear primary responsibility for shaping and nurturing a positive culture through their actions, decisions and reinforcement of desired behaviours.

People seek to change organisational culture for various reasons, including adapting to

external market forces, addressing internal issues or inefficiencies, fostering innovation and agility or enhancing employee well-being and satisfaction.

Changing organisational culture is a complex and challenging process that requires commitment, patience and strategic planning. It typically involves identifying areas for improvement, engaging employees in the change process, providing training and support and implementing new policies and initiatives aligned with the desired cultural shift.

Current trends in organisational culture include a greater emphasis on more flexible and remote work policies and virtual collaboration tools, fostering diversity, equity and inclusion initiatives, promoting employee well-being and mental health support and adapting to rapid technological advancements and market disruptions.

In conclusion, organisational culture is a vital aspect of any business, influencing its performance, employee satisfaction and long-term success. Understanding, assessing and shaping culture requires proactive efforts from leaders and employees alike, with a focus on fostering a positive and inclusive work environment conducive to innovation, collaboration, and growth.

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 29

Join the fourday week trial in August

WBusinessTime in Essex Editor, Peter Richardson, encourages the county’s business leaders to take part in a trial which could revolutionise working patterns, bringing benefits to employee and employer alike.

ORK a four-day week but still get paid for five: if you’re an employee, sounds too good to be true and, if you’re an employer, sounds too much like economic suicide.

However, delve a little deeper into the idea and things become a little more interesting.

Research shows at least 54 of the 61 companies that took part in a six-month four-day week pilot in the UK in 2022 have maintained the four-day week a year and a half later. As a result, four-day week campaigners have announced plans for a one month four-day week trial to take place in August this year.

The new initiative, called ‘4ugust’, will run as an annual event every August and has been launched by the 4 Day Week Campaign and think-tank, Autonomy.

Campaigners are hoping a shorter trial will encourage even more companies to give the four-day week a go. They say for companies unsure about a longer trial, ‘4ugust’ gives them the opportunity to try it just for a month and see the benefits for their organisation.

The plan is for companies taking part to give their staff a four-day week, while keeping salaries the same, for the whole month of August this summer. Alongside the bank holiday in the final week, this amounts to just four additional days off: a mini trial.

BusinessTime in Essex is a strong advocate of more flexible working patterns and is throwing its weight behind the ‘4ugust’ initiative, encouraging Essex businesses to sign up to the trial.

Going back in time for a moment, as 2019 turned into 2020, BusinessTime in Essex launched our 2020 Vision campaign which aimed to encourage businesses

to offer staff more flexible working patterns by looking at the potential for more home-working for at least part of the week. Benefits included less congested roads leading to less pollution, greater work/life balance for staff and overhead savings for businesses not needing such large offices.

Our campaign was more successful than we could ever have dreamed – sadly for all the wrong reasons! Within a few weeks of launching, Covid reared its ugly head and hijacked our campaign, turning what we hoped could be a gentle evolution into an overnight revolution. Best laid plans and all that!

However, moving on from what are fundamentally Victorian-era working patterns is still something to which I and this magazine remain very much committed – hence our support of ‘4ugust’.

Joe Ryle, Director of the 4 Day Week Campaign, said: “4ugust is an opportunity for companies to dip their toes in the pool, as it were, and try a four-day week for a limited time only.

“We are in the middle of a wave of organisations making the move to shorter working hours, and there are a great many other

in association with 30

companies out there interested but don’t know how or when to start experimenting. This August is the perfect time for a low-stakes mini

“It is also an opportunity for existing fourday week companies to shout about their best practices and celebrate their successful shifts to healthier, more sustainable and employee-centric hours. These stories should be held up as great examples of good employers and we’re here to amplify.”

Although no Essex-based businesses were among the 61 UK businesses which took part in the six-month international trial, one Essex company, Target Publishing, is a huge supporter of the four-day week. Indeed, it stole quite a march on the international trial!

When the company cut staff pay after the first coronavirus lockdown, the magazine group knew it had to make a positive gesture to its employees. So, it introduced a four-day

“I felt better in myself that I was able to give something back to match the sacrifice everyone had made,” said Target’s founder and owner, David Cann. Faced with sliding advertising sales and several cancelled projects, the publisher of 20 titles including

Natural Lifestyle and Health Food Business had cut pay for its 30 staff by 20%.

But the shift to a four-day week brought immediate benefits for the company. What surprised David was how much more effectively staff worked. When the situation had improved, he was able to reinstate everyone’s pay and retain the four-day week.

“Of course there were teething problems, but we found meetings were much shorter and we looked at the way staff worked and what they did much more closely to achieve significant efficiencies.

“And from a mental health point of view, we see huge benefits and, because everyone wants it to work, you get an upside in higher profits.”

So, concrete proof the four-day week can be introduced to everyone’s benefit. Of course, as with home-working, it won’t work for every person or every business. Adopting a flexible attitude is key. But if a business can offer even a smallish percentage of its workforce the option of a four-day week without losing any productivity or profitability, but greatly increasing staff retention in the process, surely it’s something to be carefully considered.

If anyone would like more information on ,4ugust,, contact Joe Ryle at Autonomy on 07907574189 or email info@4dayweek.co.uk

UK feedback from international trial

MOST of the UK companies that took part in the world’s biggest ever fourday working week trial have made the policy permanent, research shows.

Of the 61 organisations that took part in a six-month UK pilot in 2022, 54 (89%) are still operating the policy a year later, and 31 (51%) have made the change permanent.

More than half (55%) of project managers and CEOs said a four-day week – in which staff worked 100% of their output in 80% of their time – had a positive impact on their organisation, the report found.

For 82% this included positive effects on staff wellbeing, 50% found it reduced staff turnover, while 32% said it improved job

recruitment. Nearly half (46%) said working and productivity improved.

The report’s author, Juliet Schor, professor of sociology at Boston College, said the results showed “real and long lasting” effects. “Physical and mental health, and work-life balance are significantly better than at six months. Burnout and life satisfaction improvements held steady,” she said.

The four-day working week report, by the thinktank Autonomy and researchers from the University of Cambridge, the University of Salford and Boston College in the US, found that “many of the significant benefits found during the initial trial have persisted 12 months on”, although they noted that it was a small sample size.

Almost all (96%) of staff said their personal life had benefited, and 86% felt

they performed better at work, while 38% felt their organisation had become more efficient, and 24% said it had helped with caring responsibilities.

Organisations reduced working hours by an average of 6.6 hours to reach a 31.6-hour week. Most gave their staff one full day off a week, either universal or staggered. The report found that protected days off were more effective than those on which staff were “on call” or sometimes expected to work.

Challenges encountered by some companies included working with clients and stakeholders where four-day weeks were not the norm, or where the policy was implemented unevenly, leading to resentment among some staff.

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 31

Exciting times for Colchester's city centre economic evolution

BIG changes are unfolding in the heart of Colchester, with new and exciting opportunities for businesses.

Amidst the shifting landscapes of city centres nationwide, where retail footprints dwindle in the wake of e-commerce dominance, Colchester emerges as a beacon of promise, poised to redefine itself as a burgeoning economic powerhouse in the East of England.

With a substantial injection of more than £40 million in government funding dedicated to ongoing city-centre regeneration and an ambitious £55 million 5G pilot programme, Colchester is not merely aiming to uphold its rich historical tapestry; it aspires to catapult itself onto the forefront of innovation, beckoning forth a wave of business investments that will shape our collective future.

We have charted a strategic course in collaboration with more than 2,000 stakeholders - residents, businesses, and visitors alike - to craft a visionary blueprint reflective of our business’s aspirations. The benefit of regeneration includes: new employee opportunities for a higher skilled workforce, new businesses and business development opportunities, strengthening Colchester’s diverse economy to attract visitors and businesses day and night, enhancing our city’s infrastructure to improve accessibility and connectivity, and showcasing our unique heritage, bringing our past to life in new and interesting ways.

The early signs of our momentum have already born fruit, with a flurry of private investment – some announced and some not announced –coming to the city. Notably, our

recognition as the 22nd most exciting city to visit by The Times, surpassing famed destinations like Belfast, Amsterdam, and even the Big Apple, stands as a testament to the confidence in our city with private investors.

2024 is a pivotal year, marking the beginning of 15 transformative city centre projects slated to be completed by 2030, including the £6.25 million Digital Forum. With almost 4,000 people working in the Borough’s creative industries - many of whom work in IT, Software and Computer Servies - the Hub will nurture, support, and unite tech enthusiasts, digital artists, and entrepreneurs towards technological innovation across all sectors of the economy.

The architecture of the Hub, paying homage to the early 1900s Theatre Royal which caught fire in 1918, reflects our commitment to bringing our past to the forefront of what our city offers. Another way we intend to bring our past to the forefront is by using the £55 million 5G pilot to welcome a cutting-edge virtual reality experience that will bring Colchester’s Roman history to life, visually recreating our past through engaging actorled stories which will provide a

unique attraction for our city.

Yet, our aspirations extend far beyond the digital realm. We’re transforming public spaces, such as St Nicholas Square, creating bustling space designed to captivate visitors and to provide outdoor seating and event opportunities for businesses. Likewise, the revival of the Holy Trinity Churchyard has been described as an oasis at the heart of the city, providing a space for visitors to admire Colchester’s oldest standing structure, the Trinity Church tower.

Our infrastructure projects pave the way for a reimagined cityscape – creating a pedestrianfriendly walking and cycling network, interweaving the city centre with outlying districts and Essex University, encouraging active mobility, offering people travel options and fostering a vibrant urban environment.

Central to this infrastructural overhaul is unlocking St Botolph's Circus, destined to become a major gateway to the city centre. This visionary £11.8 million investment aims to forge a dynamic relationship between

Matthew Sterling, Head of Economic Growth for Colchester City Council, reveals how Colchester city centre is using regeneration funding to face country-wide economic challenges.

pedestrians, cyclists, drivers and public transport users, whilst creating a vibrant public realm to welcome visitors to the heart of the city.

St Botolph’s Circus is a stepping stone to creating Britannia Way, a bold initiative that aims to unveil Colchester's treasured heritage to both residents and visitors. The ambitious scheme will transform Britannia car park into a remarkable public space which can be used for vibrant events, markets, and leisurely gatherings. A pathway from the town train station will lead directly to a heritage trail, guiding visitors through St Botolph’s Priory towards Firstsite and Colchester Castle. This thoroughfare will lead to the heart of the city centre and create a captivating first impression for train arrivals to Colchester. In short, the eastern side of the city centre will be unrecognisable.

The city centre is already incredibly strong. Empty shops are filling, footfall is high, and businesses continue to collaborate with us and the Colchester Business Improvement District to shape Colchester, ensuring it has a proud past, a vibrant present and an exciting future.

We’ve created an interactive regeneration map, so if you’d like to delve into the various projects set to redefine our city centre by the year 2030, just visit www.colchester.gov.uk/ citycentre

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www.aerialessex.uk

Marketing – the essential food of any business

MARKETING – is there an element of business life that divides opinion as much as the m-word? Even its definition is cause for debate!

Here’s one I think gets pretty close by keeping it nice and simple: marketing is the process of getting people interested in your company's product or service. Feel free to disagree, naturally!

Now, how you achieve getting people interested in your company’s product or service is where it starts becoming a bit more complex and interesting –and the many and varied strands of marketing come into play.

I came across a saying a few years back (wish I could claim

credit for it, but sadly not) which has always stayed with me because it is so true: marketing is a food, not a medicine. By this, I believe the wise guru behind it was intimating marketing should be an integral, everyday part of a business’s life – not something you dip into in blind panic when the order book starts to run a bit dry (something, frustratingly, too many businesses still seem to do).

Marketing is, without doubt, the most important link in the whole business process. What good is having the best service or product in the world, if no-one is aware of it or purchasing it? It never ceases to amaze me the

number of businesses which win an award but won’t spend a small amount promoting said success. What is the point of putting in all the effort to become an awardwinner if you’re not going to tell people about it. It’s not going to help you win new business (surely the main objective of winning an award, unless you’re one of those people who just gets a warm glow from knowing you’re an award-winner) if people aren’t aware of your success?

Marketing is all about extolling and publicising what makes you different and better from your competition. It gives would-be customers a reason to choose you over your rivals. The

means of marketing is doubtless where confusion sets in. How much budget should you set aside, who do you turn to for help, do you take the digital or print route, are you seeking instant return or longer-term gain? The questions sometimes appear as endless as the definition!

TWI_BTIE_92x131mm_quarter page.pdf 1 14/05/2024 13:28

In this feature, we explore the wonderful world of marketing. Some of the county’s leading marketing experts share their wisdom and, in the process, hopefully make one of the most misunderstood strands of business a little easier to grasp and, indeed, implement.

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 33
C M Y CM MY CY CMY K

How to hire a senior marketing expert while operating on a budget

FOR some businesses, securing seasoned marketing expertise can feel out of reach due to budget constraints. Afterall, the traditional route of hiring a full-time Chief Marketing Officer comes with significant financial commitments, from high salaries to overhead costs and benefits.

This predicament leaves many businesses at a crossroads, torn between financial strain and compromising on the quality of marketing leadership. Do they risk overextending themselves financially or settle for a less experienced candidate? Stick or twist? Neither option is ideal.

Enter the Fractional Chief Marketing Officer (FCMO).

For the uninitiated, a FCMO operates by partnering with multiple firms simultaneously on a part-time basis, offering a cost-effective alternative to accessing premium marketing leadership. Engagements can vary in duration. For instance, FCMOs can be brought in on a projectby-project basis, retained for ongoing strategic guidance, or hired for specific initiatives like market entry strategies, product launches, or digital transformation projects.

With businesses facing challenging economic conditions, this flexible model is gaining traction but equally the agility that the FCMO role provides

can be crucial during periods of rapid growth. It allows companies to scale marketing efforts up or down quickly according to demand, mitigating the risks associated with either over-hiring or underutilising talent.

One of the key advantages of engaging a FCMO is the strategic insight and experience that they bring to the table. They offer an unbiased, fresh perspectives, enabling them to assess current marketing strategies, identify gaps, and craft tailored plans aligned with specific business objectives.

Moreover, outsourcing marketing leadership to a FCMO empowers business owners and executives to refocus on core competencies and strategic decision- making, unburdened by dayto-day marketing operations. The FCMO assumes responsibility for setting strategic direction and supporting its implementation to optimise marketing return on investment.

FCMOs tend to be seasoned experts who can hit the ground running, delivering immediate impact. Leveraging their extensive industry networks, they possess the connections to enhance your business' marketing reach and effectiveness. This network is likely to extend to trusted suppliers, enabling them to negotiate competitive rates and secure advantageous partnerships on behalf of your business.

Beyond strategy and execution, FCMOs offer deep market knowledge, competitor insights, and client understanding. They are likely to have been

Matthew Rowe, Director of Colchester-based MJR Marketing and PR Consultancy Ltd, explains how a limited budget does not preclude enjoying experienced marketing expertise.

around the block a bit, and therefore equipped to manage and nurture junior colleagues, strengthening your internal marketing capabilities across the business.

FCMOs can also serve as interim marketing leaders during periods of leadership transitions or while businesses are searching for a permanent CMO. They can stabilise marketing functions, assess internal capabilities, and provide valuable insights to aid in the selection of a long-term marketing executive.

As with any role, it’s essential to get the right person. Before making an appointment, evaluate potential candidates’ track records and clarify the areas of marketing expertise your business needs.

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Aim for the perfect blend

IN the age of digital dominance, where SEO, social media, and e-shots reign supreme, print marketing often finds itself questioned as a viable marketing tool.

But is print truly on the brink of extinction in the marketing world? Is it becoming the dodo of advertising strategies? Let's delve into the pros and cons of both print and digital marketing to settle this debate.

Print marketing, often overlooked in the digital era, continues to evolve and adapt. Contrary to popular belief, print media has embraced new technologies with innovations in printing methods, such as variable data and 3D printing, whilst significantly reducing costs, making print marketing more accessible and cost-effective than ever before.

One of print marketing's undeniable strengths lies in its ability to forge meaningful connections with consumers. The tactile nature of printed materials helps foster a lasting emotional connection. Additionally, the personalised feel of print media enhances its credibility and trustworthiness. If the print media is sustainable and eco-friendly, then even better. Building trust through print marketing can be a crucial component of a brand's success.

In addition, scientific research suggests print materials are processed differently by our brains

compared to digital content, leading to deeper engagement and better retention of information. This cognitive advantage underscores the enduring value of print in an increasingly digital landscape, where digital ‘things’ pop up and disappear constantly.

With digital platforms, businesses can reach a global audience, tailoring their marketing campaigns to specific demographics with pinpoint accuracy. The ability to customise ensures digital marketing campaigns are highly effective and efficient in reaching the intended audience.

Furthermore, digital marketing offers consumers a choice of how they engage with content from their favourite brands. Whether through blog posts, videos, or social media, digital platforms cater to diverse preferences, enhancing consumer engagement and interaction usually through a device which we carry around in our pocket. In contrast, print marketing's singular format may limit consumer choice and engagement, potentially hindering its effectiveness in reaching younger audiences. (Most Gen Z and Millennial brands concentrate their marketing budgets on social media platforms like TikTok and Snapchat).

Whilst the cost of online advertising is rising, due to increased competition for clicks and content, digital marketing remains cheaper than print advertising. With digital media, businesses can reach millions of potential customers at a fraction of the cost of traditional print campaigns,

Introducing WPcanopy: a comprehensive website management solution

This is Fever, a Colchester-based creative agency, is introducing WPcanopy, an all-encompassing website management service for organisations looking to protect and enhance their online presence.

WPcanopy manages every aspect of a website, adhering to rigorous ISO standards for stability, speed, data compliance, and security, allowing clients to focus on content, marketing and converting business.

This is Fever has invested in its own hardware, sustainably hosted at a UK-based carbon negative data centre operated by The Positive Internet company. It guarantees rapid PageSpeed delivery while integrating carbon reduction practices.

said: “With WPcanopy, organisations can rise above the competition and contribute positively to the planet. The service includes industryleading security, continuous PageSpeed optimisation, full GDPRcompliant data practices, regular pentest and vulnerability scanning, ISO 12700 equivalent compliance, and humanised support from a dedicated solution manager.

“We invite interested parties to contact us for a no-cost analysis of their website's current position, with an exclusive introductory offer for the first 20 customers who quote BusinessTime.”

Sarah Brockwell, Director at Essex-based award-winning PR and marketing consultancy, sarahBee marketing, suggests the answer to the print versus digital debate is all in the blend.

although the digital platform has to resonate with the right audience to be truly effective.

To sum it all up, both print and digital marketing offer distinct advantages and challenges. Print marketing excels in forging emotional connections, brand loyalty, and tangible credibility, while digital marketing boasts unparalleled reach, precision targeting, and cost-effectiveness. Rather than viewing them as mutually exclusive, businesses should try to harness the strengths of both print and digital marketing to create integrated, multichannel strategies that maximise their impact and effectiveness.

And if you want my advice, go with a blend!

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 35
Ben Green from This is Fever
• • • • • • • • • •
If you need help with your PR and marketing campaigns, visit www.wearebigwavepr.co.uk or call the team on 01206 231807
MARKETING CONSULTANCY WEBSITE DESIGN SOCIAL MEDIA MARKETING SEO / PPC ADVERTISING EMAIL MARKETING LEAD GENERATION (MICROLEAD) GRAPHIC DESIGN (PRINT & DIGITAL) CONTENT MARKETING BRANDING VIDEO / ANIMATION BUILDING YOUR BRAND. www.elancm.co.uk | info@elancm.co.uk | 01206 252378 Do your thoughts demand action? What’s on your mind? Every business leader and owner looks for improvement and those all-important marginal gains. Our goal at Elan Marketing is to help you transfer those thoughts into positive changes and gain new customers, growth and exposure for your business! A better performing website Increased advertising reach More customers Website needs more traffic Better sales figures

The ticking threat to your marketing success

BE honest, if you look back at the marketing strategy you had for this year, how much have you managed to achieve?

A report from Marketing Week estimated up to 90% of marketing strategies never get completed or see the light of day. Statistically, that means only 10% of your competitors are doing what they should be – an opportunity right?

So, you’re busy, work is coming in and it’s okay that marketing isn’t a priority. Or is it? Here are four big reasons why making the time to focus on marketing should be a priority.

Keep an eye on the competition: when was the last time you checked on the competition? A core part of your strategy should be benchmarking your business and getting regular insight into your market. Even in three months a competitor may creep in under the radar and start winning your business before you even know they are there. Strategically, you should be getting a monthly competitor update with a deeper dive every quarter to see who’s winning and who’s coming up through the ranks with rapid growth or new products and services.

Prioritise your brand: without strategic

direction and conservatorship, and a mission, vision, values-led brand roadmap that the whole business understands, it’s easy to lose brand equity. You only need a member of staff who is trigger-happy with Canva, someone who loves using Comic Sans in their presentations, and someone else who thinks it's okay to use Chat GPT to automate content, and you may soon not recognise the brand you worked so hard to create.

Lead with KPIs: this is a huge one. If you’re investing in digital or print advertising, pay-perclick, sponsorship, or even the services of an agency, how do you know if your money is going down the drain? If you want a moment to put this in perspective, take a look at what you spent on marketing and advertising this year – what’s the ROI? Last year, a Forbes report highlighted almost half of businesses can’t measure social media ROI and two-thirds of companies don’t have any marketing measures in place. You wouldn’t invest in anything else without measuring ROI, so whether it's brand visibility, sales conversions or customer retention, make measurements a priority.

Trust the experts: from websites and design to content, delays are usually down to one or more people being too busy to sign off. “I’ll look

we're always on the lookout for innovative ways to elevate our clients' marketing strategies.

One tool that's been revolutionising the industry is artificial intelligence (AI). With its ability to analyse data, generate insights, and automate processes, AI is transforming the way we approach copywriting and content creation. Gone are the days of onesize-fits-all advertising strategies; AI enables us to craft dynamic, datadriven narratives that speak directly to the unique preferences and needs of the individual customer.

One of the key benefits of AI in marketing copywriting is its ability to analyse vast amounts of data in real-time. By leveraging machine learning algorithms, AI tools can sift through customer demographics, behaviour patterns and market trends to identify insights that inform targeted and personalised messaging.

For instance, AI-powered platforms can analyse social

media interactions, website traffic and customer feedback to understand audience preferences and sentiment. With AI-powered tools, such as natural language processing (NLP) algorithms and predictive analytics, we're able to automate many of these tasks, allowing for faster turnaround times and greater efficiency. Armed with this knowledge, we can tailor our copywriting efforts to resonate with specific segments of our client's target audience, driving engagement and conversions.

Moreover, AI enables us to automate repetitive tasks, freeing up valuable time for our team to focus on strategic initiatives. From generating product descriptions and email subject lines to A/B testing ad copy variations, AIpowered tools can handle routine copywriting tasks with speed and precision.

Contrary to popular belief, AI isn't here to replace human creativity; rather, it enhances it. By providing data-driven insights and generating content ideas, AI serves as a valuable collaborator in the creative process.

Kate Everett, Managing Partner at Colchester-based PR and marketing agency, The Write Impression (TWI), takes you through four big reasons marketing should be a priority for every business.

at it this week” often ends up days, weeks or months down the line and the opportunity is lost. If you do nothing else, prioritise your workflow. If your brand voice is clear, your strategy and KPIs are agreed and in place, and you trust your team or agency, you shouldn’t need to micromanage everything that goes out.

My final tip? Don’t try to do everything at once. Plan, invest, measure and bring your best marketing investments into business as usual. Then, just keep doing it!

Unleashing the power of AI in marketing copywriting

Azzuro Marketing

For example, AI can analyse successful marketing campaigns across various industries and identify common elements that resonate with audiences. Armed with this knowledge, our copywriting team can draw inspiration from proven strategies while infusing their unique creativity and brand voice into the content.

Additionally, AI can help overcome writer's block by

generating topic suggestions and headline ideas based on trending keywords and search queries. This not only sparks creativity but also ensures our content remains relevant and timely in today's fastpaced digital landscape.

However, it's essential to recognise AI is not a silver bullet solution. While AI can automate many aspects of marketing copywriting, human creativity and expertise remain essential.

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 39

Low-cost and no-cost marketing strategies

MARKETING can be expensive, but effective marketing doesn’t require a hefty budget.

With creativity and resourcefulness, start-ups and SMEs can use low-cost and no-cost strategies to enhance their visibility and engagement significantly. Here are practical, accessible marketing tactics to elevate your business presence without breaking the bank.

Social media: social media platforms such as Facebook, Instagram, Twitter, and LinkedIn are powerful tools for direct audience engagement. Success here depends on genuine interaction—not just presence. Engage actively by responding to comments, sharing useful content, and participating in community discussions to increase visibility and strengthen brand relationships.

Content is king: content marketing, including blogs, videos, and e-books, helps establish your expertise and improves SEO, driving organic traffic. Utilise free tools such as Chat GPT for blogging and Canva

for graphics, focusing on quality content that truly engages your audience.

Effective email marketing: email marketing remains a highly cost-effective strategy. Services such as Mailchimp offer free tiers for small enterprises, allowing the distribution of newsletters, promotions, and updates to interested audiences. Segmenting your list and personalising messages can boost engagement and conversions.

Networking and collaboration: expand your professional circle through networking. Attend industry meet-ups, join forums and participate in webinars. Collaborate on events or webinars with other businesses to double your visibility at minimal cost. Offering to be a guest on a podcast not only helps create some content, but also extends your reach to a wider audience.

User-generated content: encourage customers to create content for you, such as through photo contests on Instagram or customer testimonials. User-generated content lends authenticity to your brand and

increases credibility and reach, all while saving you content creation time.

SEO optimisation: being found online is hard, so it is important to ensure your website is optimised for search engines. Focus on keyword research using tools like Google’s Keyword Planner and incorporate those keywords into quality content. Also, make sure your site is mobilefriendly and quick to load, as these factors influence search rankings.

Miles Phillips, who runs Essexbased Miles Marketing, offers some practical and workable tips on how to get the most from your marketing budget.

Business directories: list your business on online directories such as Yell and Yelp to improve your digital footprint and SEO at no cost. Most are free and if your business is a local one, look at specific local directories or ones that have a filter by areas, so you are more likely to get found.

Reviews: ask customers for reviews and make it easy for them to do so. Focus on Google reviews as this helps a lot with website SEO

and your business being found in search.

By using digital tools wisely and focusing on genuine customer engagement, you can achieve effective marketing without a big budget. There are never enough hours in the day, so why not plan to tackle just two of these points each week for the month? That should be manageable and, by the end of the month, you will have taken big steps in moving your marketing forward. Start small, use resources creatively and watch your business grow through these strategic approaches.

DON’T KNOW WHERE TO START WITH MARKETING?

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 41 Milesmarketing.co.uk WhatsApp 0754 069 5785 miles@milesmarketing.co.uk
EXCLUSIVE 20% OFF In just 90 minutes, get a marketing plan that drives results. SIMPLE, FAST, EFFECTIVE MileMarketing Business Time ad V3.indd 1 10/05/2024 11:53

More than a qualification, an MBA is a state of mind

At ARU we believe an MBA is more than a qualification, it’s more than just learning the theory behind management decisions and is instead a mindset; one of curiosity and thinking both critically and practically to find solutions to everyday business issues.

Our suite of MBAs focus on the broad, analytical and integrated study of business, with an emphasis on leadership and management and provide you with a decisionmaking toolkit of transferable employability skills and knowledge. A toolkit you will grow and develop throughout your career.

MBA

Our CMI accredited MBA provides students with the skills they need to enter a managerial or organisational role, as well as supporting those working within junior/senior management roles.

MBA Entrepreneurship

As a budding entrepreneur, you’ll recognise the practices of entrepreneurship; play, empathy, creation, experimentation and reflection. Delve deeply into each of these to develop your own ideas, evaluate potential outcomes and develop a value proposition that improves the ways you meet constantly evolving customer needs.

MBA Finance

Your grounding in management, strategy and leadership is bolstered by international finance and investment, both theoretically and practically. This exciting mix will help you navigate this fast moving and growing sector to enhance your prospects and boost your career.

MBA Fintech and Data Analytics

Advances in financial technology have bought transformational changes in the finance industry, this MBA can help you be at the forefront of these advances. One such advance is blockchain technology and digital currencies and how they’ve revolutionised payment system as well as robo-advisory services for investors.

Professional Experience

For those looking for a more practical experience, our MBAs can be extended to a 2 year course with 2 professional experience modules. These are a fantastic opportunity to gain industry exposure, benefit from professional mentoring to help you secure the graduate role you want. You choose which professional experience modules you want to take, personalising your journey and accessing the most appropriate experiences for you.

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Or call 01245 686868 SCAN ME

Public hearing to review development plan for Tendring Colchester Borders Garden Community comes to an end

APUBLIC hearing to review the development plan for a sustainable and vibrant new community on the Colchester and Tendring border has come to an end.

The Tendring Colchester Borders Garden Community (TCBGC) is a proposed new settlement, located between Colchester, Ardleigh, Wivenhoe, and Elmstead Market.

A hearing into the Development Plan Document (DPD), which outlines the vision and policies that will guide the development of the garden community, took place at the JobServe Community Stadium, in Colchester, between Tuesday, May 7, and Thursday, May 9.

The hearing, known as an

Examination in Public (EiP), took place to assess if the document meets local and national planning guidelines. The DPD covers various aspects, including land use, housing, infrastructure, and community facilities.

The project has already benefitted from extensive public engagement throughout the development process, including a public consultation exercise in May and June last year.

All comments received from residents and stakeholders were submitted to the Planning Inspectorate for consideration alongside the DPD.

Councillor Mark Stephenson, Leader of Tendring District Council, said: “These hearings signify a pivotal moment in our journey to establish a once-in-alifetime Garden Community.

“Our goal is to create a sustainable and vibrant space, equipped with essential facilities and infrastructure, designed for future generations to proudly call home.

“With Tendring District Council’s and Colchester City Council's proven track record of collaboration, the Development Plan Document (DPD) represents years of hard work and sets out the positive strategy to meet the evolving needs of our growing population over the next 30 to 40 years."

Councillor David King, Leader of Colchester City Council, said: “The hearings are a hugely helpful test of the plans for the proposed Garden Community. We seek to deliver an attractive place to live, with walkable, low traffic neighbourhoods and sense of community.

“It is by no means the conclusion of the planning process, but an important piece of the overall jigsaw that will lead us towards the realisation of this Garden Community.

“I am grateful to everyone who has already commented on and contributed to this DPD, which has already received extensive public consultation. We look forward to the Inspector’s decision in relation to the DPD in the coming months.”

Following the independent review by the Planning Inspectorate, the finalised DPD will guide future planning applications for the Garden Community.

For more information on the TCBGC project, please visit the project website: https://talk. tcbgardencommunity.co.uk/

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Know your numbers!

THOSE of you who watch Dragons’ Den will know the dragons get very upset and will not lend their money to business owners who ‘don’t know their numbers’.

Why do they set so much store by a lack of clarity over a few numbers? Surely a great idea is a great idea and the numbers are irrelevant.

The simple answer is that the dragons want a return on their initial investment and that return will be dependent on achieving measured results. Not only positive but significant profits and equally significant positive cashflow. They don’t want to invest in a good idea to find they have to keep investing just for that business to survive.

The dragons know the failure rate of small businesses in the UK is very high. Three quarters of companies formed today will not see their tenth anniversary and 90% will not see their twentieth birthday. These are not estimates but facts backed up by figures from Companies House. And the main reason given for these failures? A lack of financial control. They don’t know their numbers!

But hang on. You are in business using a skill or expertise you have acquired working for someone else and you are generating them a profit rather than benefiting yourself. As long as you understand the ‘production’ of your product or service why do you need to know your numbers? You have a bookkeeper and an accountant for that. Why have a dog and bark yourself?

Here are a few reasons why you, as the business owner, must understand the finances of your business and not just rely on

Empowerment

and informed decisions: accountants may be your go-to financial experts, but they aren't the ones running the dayto-day operations. Understanding your numbers allows you to interpret financial reports and make informed decisions about your business strategy, marketing, staffing and investments. You'll be able to ask insightful questions and have a proactive dialogue with your accountant.

Early warning signs: numbers can reveal trends and potential problems

before they become critical. Knowing your key metrics (sales, cost of sales, gross profit, overhead expenses, net profit margins etc) allows you to identify areas needing attention and coursecorrect before things spiral out of control. For example, a dip in sales or a rise in a specific expense category might signal a need to adjust pricing or investigate inefficiencies.

Improved communication with stakeholders: investors, lenders and suppliers are obviously interested in your financial health because they want to be repaid. However, customers and employees are also interested in your financial health. Customers want to ensure deposits or upfront payments are not at risk and you are financially capable of performing throughout their contract with you. Employees don’t want to give up a secure job to come and work for someone who either cannot afford to pay them or is likely to have to cut short an employment period. Having a grasp of the numbers allows you to confidently discuss your business's performance and future plans with any stakeholder.

Goal setting and tracking progress: any mentor or coach will tell you setting financial goals for your business is absolutely essential for success. Goals stated in words are emotive and create a powerful picture of what your business will look like in the future, but words are difficult to measure except as a final goal perhaps years into the future. Numbers on the other hand are easy to measure and can be broken down into short steps or

Peter Disney, of Colchesterbased accountancy firm, Wood and Disney, explains why every business owner really should know their numbers.

progress goals. Understanding your numbers allows you to track progress towards the ultimate pictured goal and adjust your direction as needed.

Reduced reliance on others: while accountants are valuable partners, relying solely on them for financial information can leave you vulnerable. Understanding the basics empowers you to make quick decisions without waiting for a long-winded and detailed analysis. You do not need 100% of the information to make a decision. Colin Powell (US General, National Security Advisor and Secretary of State) had a formula that he used. Once he had 40% of the available information, he started thinking about making a decision. By the time he had 70% of the information he had to make a decision because by wasting more time he could lose the opportunity. So, in essence, your accountant is like a financial translator. They analyse data and present it in reports, but you're the business owner –understanding the language of your finances empowers you to make the best decisions for your company's success.

When Wood & Disney conducted an impact survey with our clients, one of the questions we asked was, ‘have you noticed a difference in understanding of your finances since working with us.’ More than 85% said their understanding had improved.

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 45
everything
can to
Visit: essex-fire.gov.uk/falsealarms Are you doing
you
reduce the number of false alarms in your business or building? False Alarms Failure to reduce your false alarms may result in legal enforcement action

Essex County Fire and Rescue Service launch campaign to cut false alarms

Essex County Fire and Rescue Service

Essex County Fire and Rescue Service is taking proactive measures to reduce the hundreds of false alarms it attends each year.

According to the latest statistics, firefighters responded to over 1240 false alarms in commercial buildings last year.

Group Manager Dave Bond, Head of Protection at Essex County Fire and Rescue Service, emphasised the importance of the campaign, saying:

“Fire alarm systems are designed to provide an early warning of fire so that members of the public have ample time to exit a building and make their way to a place of safety.

“Unfortunately, the vast majority of signals from these systems are not generated by fire but other causes such as a fault in the system or cooking, steam, dust, smoking or vaping.

“This can lead to crews being turned out unnecessarily to what is a false alarm, otherwise known as unwanted fire signal.

“While we absolutely endorse the use of automatic fire alarm systems, it is imperative that these systems are correctly managed and maintained to minimise false alarms and ensure timely activation when required.”

The 1241 false alarms represent 47% of all incidents attended by Essex County Fire and Rescue Service within commercial businesses and buildings such as businesses, hotels, care homes, hospitals and schools.

Group Manager Bond added:

“False alarms are an unnecessary drain on our resources and add undue risk for our firefighters and the public from appliances responding to these calls under blue light conditions. They also disrupt and prevent our firefighters from carrying out essential training and home safety visits and business fire safety checks.

“For businesses it can result in

an impact on costs including lost revenue and the real danger of staff becoming complacent.”

Businesses who experience recurring false alarms are urged to contact their alarm system company to investigate the cause of the false alarms. Failure to reduce false alarms may result in enforcement action by the fire service.

Group Manager Bond adds:

“Recurring false alarms can often be resolved quickly and easily, so we are urging businesses who experience recurring false alarms to investigate each occurrence in order find the cause. Although we do have legal enforcement powers on businesses that fail to reduce their false alarms, we want to remind businesses that we are here to provide support and guidances for all businesses in Essex aswell”.

Essex County Fire and Rescue Service’s Business Engagement Team is available to provide support, advice, and guidance to any Essex business experiencing recurrent false alarms.

accountancy training

Train existing or new members of staff Recognised qualifications. Help recruiting school leavers.

Programmes created for your business and learners

01245 209900 chelmsford@fi.co.uk or southend@fi.co.uk

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L E A R N I N T H E C L A S S R O O M F R O M Q U A L I F I E D A C C O U N T A N T S W I T H D E S I G N A T E D S U P P O R T F R O M A C O A C H

Award-winning accountancy training is coming to Colchester

NEARLY 15 years ago, my wife and I made one of the biggest decisions of our careers. We left our secure jobs at a well-known training provider and started our business here in Essex.

We opened First Intuition Chelmsford and set about bringing high-quality accountancy and finance training to aspiring professionals looking to start or develop their careers. We started small but our Chelmsford offer grew to one that meant students were travelling from all over Essex to get to us. The obvious next step was to expand, and our Southend centre opened successfully in 2022. With a good chunk of south and mid Essex covered, we’ve built strong partnerships with clients and students across the county.

We recognise, though, there are still parts of Essex where we can help those looking to start or complete their accountancy qualifications, not to mention those firms wanting to introduce new starters or upskill existing employees. I am really excited that in September 2024, we’ll be opening our first centre in north Essex, in the beautiful city of Colchester.

So, what can students and employers expect from First Intuition Colchester? Well, to start with, a central Colchester location, as we’ve taken a space in the Mercury Theatre to host our face-to-face classes. I’m delighted our new home will be in this beautifully refurbished building where there really is so much happening all the time.

Our students will be able to study for their complete AAT (Association of Accounting Technicians) qualification in our new centre. We’ll be offering levels 2, 3 and 4 and all of these can be studied as an apprenticeship programme or as an independent learner.

As someone who firmly believes in the power of face-toface teaching, I couldn't be more excited to be opening another centre. The pandemic forced us to adapt for a short while, but I know I speak for the whole tutor team when I say we believe the best way to learn complex accounting theories is face-toface.

I’ve always found students benefit from being with their peers. There is an energy in a classroom you can’t quite replicate online. Students get to ask their own questions but also hear the answers to those asked by others. They can check their learning and discuss challenges whilst building connections with their classmates. It’s also amazing to watch a cohort go through their studies together

of First Intuition in Chelmsford, shares his excitement and passion for the company’s latest expansion –into the city of Colchester.

and the moment they complete their journey is always rewarding. I know this feeling is shared not just by me and the tutors but by the whole team, who get to know our students well during their studies.

When we started out, we were determined to create a supportive environment for our students, and I see this reflected now in our tutors. They make themselves available to help our students whenever they need extra help or support. I’m really proud of the approachable, personal and tailored teaching style our tutors bring to the classroom. Many of them are local residents, who are really looking forward to sharing their knowledge and decades of combined experience with the next generation of Colchester accountants.

When we decided to offer accountancy training under the apprenticeship scheme, we wanted to make sure we wouldn’t sacrifice the support and personal approach that has been recognised by both Ofsted

(graded as Outstanding) and the AAT. We assign every apprentice with a skills coach to help them navigate their programme, stay on track, and overcome any challenges. Our experience shows us local employers really value apprenticeships. Some use them to train new starters, straight from education, whilst others upskill team members who are ready to progress in their career.

I am really looking forward to working with our existing Colchester clients whilst meeting and building relationships with new ones. For me, Colchester is one of the most exciting locations in Essex and it’s undergone major development. The investment that has gone into transforming it into a business hub has seen a wealth of companies opening in the city. This includes those who’ve chosen the city to launch their business in, as well as those like us, who see Colchester as a key part of their expansion plans.

We know that Colchester, like so many other parts of Essex, has a wealth of talent with Colchester’s secondary and further education institutions held in high regard. With so many businesses choosing to make the city their home, I’d like to think that with our help in training their accounts and finance teams, together we can encourage the talent we have to stay in the area and continue the city’s growth and success.

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 49

Here’s something on which all limited companies should agree

ASHAREHOLDERS Agreement

is a crucial document for any limited company, especially those with multiple shareholders. Below are seven compelling reasons why having a Shareholders Agreement is essential.

Shareholders’ disputes: even if you’re close friends or family, disagreements can arise. Most disputes occur after a falling-out between shareholders and they can get ugly. A Shareholders Agreement provides a framework for resolving disputes and outlines decisionmaking processes, including mediation or third-party involvement if necessary.

Bespoke clauses: Shareholders Agreements allow you to include custom provisions tailored to your specific needs. These bespoke clauses can address unique situations and ensure clarity in your business relationship.

Regulating company management: while the Companies Act 2006 specifies certain decisions requiring shareholder consent, many other decisions fall outside board-level discussions. A Shareholders Agreement can

establish contractual boundaries on decisions that need majority or unanimous shareholder consent, such as borrowing money, hiring key employees or incurring significant capital expenditure.

Pre-emption rights on transfers: shares are assets, and without pre-emption rights, anyone can sell their shares at their discretion. Including pre-emption rights ensures that shareholders offer shares to each other first, preventing unwanted surprises like working with a competitor or a distant relative.

Deadlock resolution: when shareholders fall out, having no resolution mechanism can be detrimental. A Shareholders Agreement can outline procedures for resolving deadlocks, ensuring business continuity and preventing irreparable damage.

Protection for minority and majority shareholders: the agreement can safeguard minority shareholders’ rights and provide clarity on majority shareholders’ powers. It balances interests and prevents unfair treatment.

Clarity and boundaries: a Shareholders Agreement sets clear guidelines on how

Craig Kelly, an Associate Solicitor in the Corporate Department at Aquabridge Law, which has offices in Essex and Suffolk, explains the importance to any limited company of having a Shareholders Agreement in place.

your business relationship will work. It covers decision-making, share transfers and other critical aspects, reducing the risk of misunderstandings and fallouts.

A Shareholders Agreement defines rights, responsibilities, and dispute resolution processes among shareholders. If you have a limited company with multiple shareholders, it’s highly recommended to have one in place.

Grow

business through Knowledge Transfer Partnerships

• Government funding can cover up to 67% of the total cost

• Access to a world-class knowledge base, resources and graduate

• Gain access to new markets, increased productivity and better processes

• Build expertise, generate knowledge, and develop innovation.

If you have a strategic, innovative idea for your business, get in touch today.

Tel: 01223 695878

Email: business@aru.ac.uk

50
your
of the Year University ARU is

Should you involve employees in business succession planning?

BUSINESS succession planning is the process of preparing for the transfer of ownership and management of a company to new owners or leaders.

It can be triggered by various events, such as retirement, illness, death, or perhaps simply just a strategic decision to sell the business. Succession planning is crucial for ensuring the continuity and sustainability of the business, as well as its value and legacy.

It’s a big deal for the business owner. But it’s perhaps an even bigger deal for those people who are at the coalface every day, with mortgages or rent to pay and families to provide for. Lots is written about employee engagement in day-to-day business. But what about employee engagement in a business succession process?

One option is to involve employees directly, either by selling the business to them or by giving them a stake in the ownership and decision-making. This can be done through various mechanisms, such as employee stock ownership plans (ESOPs), employee ownership trusts (EOTs), cooperatives or partnerships.

There are a number of reasons an exiting business owner would look to do this:

• employee involvement can provide a smooth and quick transition of the business, as the employees already know the operations, the customers and the culture of the company

• employee involvement can preserve the mission and vision of the business, as well as its social and environmental values, by avoiding selling to external buyers who may have different agendas or priorities

• employee involvement can increase the motivation, engagement and loyalty of the staff, as they feel more valued and empowered by having a stake in the business. This can lead to higher productivity, innovation

and customer satisfaction, as well as lower turnover and absenteeism

• employee involvement can also create a positive impact on the local community and the wider society, as employee-owned businesses tend to be more democratic, accountable and responsible. They also tend to invest more in training, development, and social causes and pay more taxes than conventional businesses

• employee involvement can offer tax advantages for the current owners, as they may be able to defer or completely nullify their capital gains tax liability.

However, there are also some challenges and drawbacks of involving employees in business succession planning, which need to be carefully considered and addressed. Some of these challenges are:

• employee involvement can require a significant amount of time, effort, and resources to set up and implement, as it involves legal, financial and organisational complexities. The current owners and the employees need to agree on the valuation, structure and governance of the deal, as well as the financing and repayment options

• employee involvement can also entail a cultural and behavioural shift for both the current owners and the employees, as they need to adapt to new roles and responsibilities. The current owners need to relinquish control and trust the employees to run the business, while the employees need to develop new skills and competencies to become owners and managers

• employee involvement can pose some risks and uncertainties for the future of the business, as it depends on the performance and commitment of the employees. If the employees are not prepared, motivated or capable of owning and leading the business, it may affect its

Luke Morris, Corporate Finance Partner with leading regional accountancy firm, Scrutton Bland, looks at the pros and cons of involving employees in business succession planning.

profitability, growth and resilience. There may also be conflicts or disagreements among the employees over the strategy, direction or distribution of the profits of the business.

EOTs were first introduced in 2015 and whilst it has taken some time for them to gain in popularity the EOA (Employee Ownership Association) says the number of EOT transactions went up by 37% in the year to June 2023. This means there are now more than 1,400 businesses in the UK owned by an EOT.

The gain in popularity has inevitably attracted the attention of policymakers. One concern is about the governance of EOTs. Ministers are worried some business owners are trying to keep significant control of the company after the sale, appointing themselves as trustees on the EOT board as well as on the board of the business itself. The government has proposed rules to stop this with legislation that limits the seller and its representatives to having only a minority of trustees on the EOT board possible to likely follow.

Another concern is about the generous tax benefit EOTs offer owners. The sale of a business usually triggers capital gains tax (CGT) on the proceeds – normally at 20%, although with a 10% rate on the first £1m of gains due to business asset disposal relief (BADR). However, owners who sell to an EOT pay no capital gains tax at all. Instead, the trust established takes on the tax liability, which then pays CGT on any secondary sale. And secondary sales have been vanishingly rare so far. EOTs set up abroad can in some circumstances avoid this CGT liability, potentially allowing business owners to pursue a second sale but to dodge CGT completely. So, we expect legislation on this too.

Practice is developing, so if you have considered the benefits of employee ownership and think that an EOT may be the way forward, speak with us first!

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 51

Flexible Online Courses

FREE Courses
01245 26 56 11 x3439 onlinelearning@chelmsford.ac.uk www.chelmsford.ac.uk For further information: • Business Start-up • Children and Behaviour • Climate Change •
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Whether you are progressing to the next stage of study, retraining for something new or returning to study after years away, applying for one of our FREE online courses is a quick route to learn new skills.
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Staff step outside their roles for Back to the Floor Day

CHELMSFORD College held its second Back to the Floor Day on March 28.

The day allows all staff to visit different workplaces, enrich their skills, share practice and contribute to community projects. By exploring various environments, staff members remain up-to-date with industry standards by expanding their knowledge and expertise. These newfound skills are brought back to the College, enhancing the learning experience for both the learners and staff. Back to the Floor Day reflects the college's dedication to continuous learning, collaboration and supporting the local community.

With the aim of increasing skills and knowledge, staff members visited local charities and industry-related companies, including visits to their counterparts at other colleges. Included among these was a productive trip to Essex Business School by Chelmsford College's business department.

The Director of Business Development also explored apprenticeships and adult learning at Capital City College Group. Several other staff members, including senior management, visited Colchester Institute and various other colleges, showcasing the collaborative nature of Back to the Floor Day.

Aside from engaging with other education providers, successful staff activities also included a media lecturer spending the day at Chelmsford Community Radio, the marketing officer experiencing ITV Lunchtime News while numerous others made a positive impact with their volunteering efforts. From the learning centre staff assisting at Cancer Research to the admin team supporting The Wilderness Foundation UK and travel and tourism staff visiting Stansted Airport Academy, the day was filled with impactful experiences and learning opportunities. Upon returning to the college, staff shared how the day had broadened their perspectives and inspired them to create an

even more open and collaborative culture at Chelmsford College.

Chelmsford College staff are grateful for the opportunity to experience work life outside of the college doors. They look forward to building on this success and evolving future Back to the Floor Days, aiming to further increase the impact on both Chelmsford College and the local community.

Chelmsford College staff embracing their 'Back to the Floor Day' experiences across diverse roles.

Unlocking potential with stakeholder success

CHELMSFORD College is committed to meeting the skills needs of local businesses and industries and has, resultantly, formed mutually beneficial partnerships with organisations such as Sharp UK, Dlala Studios and local schools.

Since 2017, Chelmsford College has worked with Pillarhouse International, an innovative industrial equipment supplier. Pillarhouse International has been a standout employer partner for Chelmsford College, working closely with the college to provide support, guidance, and strategic direction to curriculum and study programmes. It plays a vital role in supporting the Level 3 and Level 4 Engineering Apprenticeship Standards, ensuring alignment with industry requirements while also complementing the internal training offered by Pillarhouse International.

In July 2022, Pillarhouse International led discussions on developing an electronics pathway for apprenticeships. Utilising a strategic development

fund, Chelmsford College collaborated with Pillarhouse International to create a brand-new bespoke training course in electronics aimed at upskilling employees. The success of this earned interest from other employers who have subsequently joined in supporting the new apprenticeship pathway and upskilling course. Furthermore, the college has worked with Pillarhouse International to facilitate various short upskilling courses for employees, covering topics such as management, equality and diversity training.

The future looks bright for this valuable partnership

Pillarhouse International are in talks with Anglia Ruskin University (ARU). The plans are to develop part-time degree courses so apprentices, primarily studying up to Level 4 (HNC) at college, could progress to an ARU degree (Level 6) if required. The partnership has already identified its first potential degree apprentice, currently studying Level 3 Engineering at Chelmsford College. Upon completion of the course, this apprentice will progress to a parttime ARU Electronics Engineering degree, making for an exciting milestone.

Chelmsford College places a high priority on fulfilling the objectives of its partners. At Pillarhouse International’s request,

the college has provided a course on diversity and inclusion awareness for all Pillarhouse staff. Additionally, a supervisor’s training course has been delivered onsite at Pillarhouse, minimising staff time away from the workplace. Following the success of these two deliveries, John Arrowsmith, the Apprenticeships Co-ordinator at Pillarhouse International, now views Chelmsford College as the go-to organisation for such courses in future, rather than bringing in external trainers.

Looking ahead, Chelmsford College is motivated to continue building these partnerships. The staff are excited to explore new avenues for collaboration and to advance skills development for all involved. The possibilities to help shape the future of education and industry are endless.

If your business could bring value to Chelmsford College and the college could benefit you, please email birdl@chelmsford.ac.uk or call 01245 265611.

To see additional stakeholder case studies from Chelmsford College, please visitchelmsford.ac.uk/ stakeholders

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 53
Engaged learning at Chelmsford College: stakeholders help power progress.

Redefining intelligence

ARTIFICIAL Intelligence (AI) was once hailed as something far-fetched and fictional but, almost overnight, it became part of people’s daily lives.

Today, AI outpaces even the rise of the dot. com boom, with headlines now dominated by deepfakes and chatbots like Google Gemini and ChatGPT. However, the current debate often overlooks small businesses and the selfemployed.

There are 5.5 million small businesses in the UK which employ 16.7 million people. With 20 per cent of those firms already using AI, their role in AI’s trajectory is undeniable. Small firms are agile and can make quick changes to their operations so, with the right framework, they will be able to embrace AI at pace. Forgetting them when looking at the opportunities – and risks – AI will bring would be a grave error.

But with AI’s rapid growth, the need for a balanced regulatory framework is urgent. Whether small

businesses and the self-employed are adopters of AI or creators of AI, they face vulnerabilities that larger tech companies will be less at risk of. Our report shows that 25 per cent in the information and communication sectors, for instance, fear AI may undermine the long-term viability of their business. Regulation, therefore, is key.

AI-powered technologies have the potential to improve business investment and foster growth. The role of government extends beyond managing threats – it has a pivotal role to play in boosting digital trade, raising productivity and breaking down barriers to tech adoption.

One of the most important priorities for policymakers is to address the AI skills gap, with 46 per cent of firms lacking the knowledge to integrate AI. We might not have flying cars or time travel in our future like popular culture promised, but we do have AI – and it has the potential to bring endless benefits to the economy. But before it does, we need to ensure we’re creating the right environment for small firms to thrive in.

Ann Scott, Essex Development Manager at the Federation of Small Businesses (FSB), reflects on the growth of AI among small firms and what needs to be done to ensure they can maximize the potential benefits AI brings.

Read the key findings and recommendations from the report ‘Redefining Intelligence’ by Federation of Small Businesses: www.fsb.org. uk/resource-report/redefining-intelligence. html

For practical tips on how to leverage AI and save your business an hour a week, register to attend the ‘FSB Business Bootcamp: Make your Small Business Count’: www.fsb.org.uk/eventcalendar/fsb-business-bootcamp-make-yoursmall-business-count-17-sept-24.html

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theBreaking chains of workplace helplessness

NO matter their size or industrial sector, for most organisations success often hinges on adaptability, innovation and a proactive approach to challenges.

Yet, despite their best intentions, many organisations find themselves mired in a state of inertia, unable to break free from the shackles of both system helplessness and learned helplessness. What exactly are these concepts, and how do they manifest in your world?

Understanding system helplessness

System helplessness refers to a state where individuals feel powerless to effect change within the systems and processes of an organisation. Whether it's cumbersome bureaucracy, outdated technology or rigid hierarchies, system helplessness can stifle creativity, hinder productivity and breed frustration among employees.

Imagine a scenario where employees are required to navigate a labyrinthine of approval process for even the simplest of tasks. Despite their best efforts, they find themselves bogged down by red tape, leading to delays and missed opportunities. Over time, this sense of futility can erode morale and dampen enthusiasm, ultimately impacting the bottom line. Within this scenario challenges including ineffective management practices and lack of employee empowerment are also present.

Unpacking learned helplessness

Similarly, learned helplessness occurs when individuals believe their actions have no impact on outcomes, leading them to passively accept their circumstances rather than actively seek solutions. This

phenomenon, first observed in psychological research, has profound implications on organisational behaviour.

Consider a sales team that consistently falls short of targets despite their best efforts. Over time, they may come to internalise the belief that success is beyond their control, leading to a defeatist attitude and diminished motivation. Left unchecked, learned helplessness can become ingrained in the culture of an organisation, stifling innovation and holding back growth. The challenges within this scenario also include ‘mood contagion’ (where other employees, without conscious effort, mimic the mood and expressions of the sales team) and ‘resenteeism’ (employees remain in a job they resent as they do not think they could find another role. They may be at work physically but emotionally they are elsewhere and often do the bare minimum).

The impact (which often goes unrecognised or unacknowledged)

The implications of helplessness are farreaching, affecting everything from employee engagement to customer satisfaction. In a competitive marketplace where agility is paramount, organisations that fail to address these issues risk being left behind.

From missed opportunities and inefficiencies to high staff turnover rates and diminished morale, the consequences of system and learned helplessness can be dire. However, there is hope on the horizon.

Empowering change with Emergenetics

Enter Emergenetics, a contemporary psychometric tool designed to unlock the full potential of individuals and teams. By leveraging the power of psychometric assessments and tailored workshops,

Simone Robinson, Director at First Ascent Group, Cambridge, extols the benefits of Emergenetics – a means of breaking the chains of workplace helplessness.

Emergenetics helps organisations identify and address the root causes of system and learned helplessness.

At the heart of the Emergenetics approach is the recognition that every individual brings a unique blend of thinking and behavioural preferences to the table. By understanding and appreciating these differences, teams can collaborate more effectively, overcome challenges, and drive meaningful change.

Investing in the future

An investment in an Emergenetics ‘Meeting of the Minds’ workshop, which includes individual profiles for all participants and lifelong support via the Emergenetics App, can help companies of all sizes, foster a culture of empowerment, resilience, and innovation.

“There is no such thing as helplessness. It's just another word for giving up.” ― Jefferson Smith, Strange Places

Using Emergenetics can:

• improve results achieved between interdependent organisational areas, eg sales and marketing or operations and administration, where currently there may be mistrust or lack of effective communication

• reduce absenteeism due to stress or sickness, as employers recognise the thinking and behavioural preferences of every member of staff and therefore communicate more impactfully

• improve team resilience in the face of setbacks, due to more readily accessible range of thinking and behaviour styles and resources

• encourage the delivery of feedback, by providing effective feedback mechanisms and understanding on how to accept feedback more readily and so much more.

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>>> >>> >>>
To discover how Emergenetics can help your organisation overcome system and learned helplessness, visit www.emergenetics.com or call /email Simone Robinson on 01223 223807or simone.robinson@firstascentgroup.com.

Auctions become a favourite alternative

Smonths, the auction world has learnt to adapt and has continued selling properties to cash buyers despite not being able to hold the traditional auction in a busy hotel room/ function suite.

this process as many sellers felt auctions were only appropriate if the property had structural damage, needed major refurbishment or had been repossessed.They considered it was the most suitable route for properties that were unmortgageable. During the past ten years, it has been proven that the process can be the best route of sale for many different scenarios and is of particular interest to those wishing to sell a wide range of different property assets.

with a rental income.

The upside to the on-line live streaming is that buyers from further afield can now bid at auctions without the need to travel to the venue, as was the case in the past.

Selling property by auction has been an alternative method for more than 40 years.There has often been misconception with

These include various property types such as greenbelt land, tenanted properties, open sites or land for development, with or without planning consent, HMOs (houses of multiply occupancy) and lock-up garages. This wide range includes both commercial and residential properties, whether vacant or being sold as an investment

If an auction catalogue has a selection of different kinds of opportunities, then a broad range of buyers often come running and this could include private individuals, investment companies, builders and developers and those perhaps just wanting to try their luck on buying a vacant property that gives them a project to really get stuck into.

Mike Gray is Managing Director of leading south Essex estate agency and auctioneers, Dedman Gray. Here he looks at how property auctions have flourished during the Covid pandemic and why auctions might be a very viable option to the conventional rote when selling your property.

Another misconception is that the for-sale price is sometimes low via the auction route.This has certainly proved not to be the case in recent years.There are many examples where a property is sold by auction for a much higher price than ever expected and certainly at prices

that would not necessarily be achieved if the property had been sold in the traditional way by private treaty.Auctioneers can offer further advice and guidance as to how and why this sometimes happens.

One thing for sure is that not all properties are best sold by auction but, for the right ones, it really can prove to be the most satisfying outcome delivering a strong price and within a short time scale.

Mike Gray is delighted to announce that our July auction was one of the biggest auctions ever held in Essex.

with many lots selling for much higher than the guide prices.

If you are looking to sell land, investments, vacant or occupied commercial or residential properties, garages and much more – contact our auction team on

56 75 issue 20 : Summer 2021
IMPRESSIVE PROPERTY AUCTION IN ESSEX High sales success achieved at Dedman Gray Already in 2022.
01702 311010. Valuations now being carried out for Lots in our June & July auction Colchester, Chelmsford, Braintree, Clacton, Suffolk Brentwood, Billericay, Romford, Thurrock, Grays, Southend, Basildon, Rawreth, Hornchurch. Ground Rent Investment / Probate Cases / Properties with Structural Defects / Development Land Greenbelt & Agricultural Land / Commercial Premises / Freehold & Leasehold Properties / Industrial Warehouses / Buy to Let Investments / Renovation Projects / Short Leases Southminster Norfolk Guide Price - £150,000 *plus fees Guide Price - £50,000 *plus fees Guide Price - £180,000 *plus fees Next Auction 5th June & 24th July Romford Brentwood Residential Investment: a unique character four bedroom detached on the sought after Exhibition Estate, considered to be below market value. Development Opportunity: red brick tower mill on Norfolk Broads. Planning potential for a variety of uses set in 0.37 acres Commercial Property: a vacant freehold former nightclub in Colchester City Centre. considered to suit a variety of uses subject to permissions. Residential Investment: well presented four bedroom freehold house in popular village location in need of structural repair and removal of cause of damage. Colchester Colchester Guide Price - £135,000 *plus fees Refurbishment opportunity: a vacant freehold semi- detached house on the popular Dutch Quarter in the city centre, in need of improvement. Clacton-on-Sea Basildon Guide Price - £250,000 *plus fees Guide Price - £700,000 *plus fees Guide Price - £295,000 *plus fees Refurbishment Opportunity: three bedroom mid terraced house in popular residential area, in need of modernization with vacant possession. Buy To Let Investment: a one bedroom ground floor apartment close to Laindon Station, currently let producing an annual income of £9,600. Guide Price - £125,000 *plus fees Buy to Let Investment: freehold building containing three flats fully let, producing an income £19,800 per annum. Rochford Hockley Westcliff on Sea Frinton on Sea Guide Price - £145,000 *plus fees Guide Price - £400,000 *plus fees Guide Price - £750,000 *plus fees Guide Price - £350,000 *plus fees Commercial Opportunity: a vacant Grade II listed freehold building with yard and garage at rear, centrally located close to the railway station. Residential/Land Investment: a vacant two bedroom detached cottage of timber construction in a semi-rural location on a plot of approximately 1.24 acres. Residential Investment: a substantial freehold property, currently arranged as three apartments, offering great potential to reconfigure/redevelop subject to obtaining the relevant consent/permissions. Refurbishment Opportunity: a vacant freehold four bedroom detached character house with garage in need of modernisation and improvement.

Strong start to Auction sales in 2024

THE alternative method of selling a wide range of different properties via auction has become increasingly popular in recent years.

Mike Gray, Managing Director at Southend-based Dedman Gray Property Consultants, said: “The auction process encourages a more streamline approach to the property transaction and is being chosen by many sellers as a preferred route due to contracts being exchanged immediately upon the fall of the gavel. Auction has certainly been an ideal way for probate sales on behalf of executors and various sellers that would like to bring their

disposal to a defined and early completion.

“Various properties are ideal for auction including vacant properties in need of refurbishment, tenanted shops and houses, greenbelt land, building plots and development land. Buyers tend to carry out their due diligence once the catalogue is available and get prepared in readiness to bid on the auction day. Legal packs are prepared by the seller’s solicitors so interested parties have a great deal of information provided early on for them to carry out their research.

“For many years, property auctions were generally held in function suites and hotels and during the pandemic, when

large events were not allowed, the auction market swiftly moved towards an online bidding facility with auctions streamed live so buyers could view the auction taking place and bid remotely. This has become an extremely popular process for buyers as they are able to bid for their chosen properties from further afield without the need to spend the day travelling to and from the auction venue. This has also allowed vendors selling by auction a much wider audience.

“During December we offered for sale a former mushroom farm, now arranged with a number of industrial units, providing a commercial

investment with an income of around £40,000. This lot was offered with a guide price of £950,000 and sold live on the day of the auction for £1.295m - an impressive result.

“I am sure auctions will continue to grow in both success and popularity and contribute towards speeding up of transactions throughout the property market.”

Auctions are becoming a popular alternative for quick, decisive transactions. with many lots selling for much higher than the guide prices.

If you are looking to sell land, investments, vacant or occupied commercial or residential properties, garages and much more – contact our auction team on

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 57
IMPRESSIVE PROPERTY AUCTIONS IN ESSEX High sales success achieved at Dedman Gray Auctions in 2023.
http://www.lodgepark.co.uk
01702
311010.
substantial family home sold in West Bergholt at £820,000 in our April auction.
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Two small Essex businesses celebrate awards

TWO small businesses from Essex have been revealed as finalists in the Federation of Small Businesses (FSB) Celebrating Small Business Awards 2024.

In the eastern region, Stort Valley Gifting in Harlow has been crowned Micro Business Winners, whilst Vanlife Conversions Ltd in Colchester has been named as winners of the Service Excellence Award, (the category with the highest number of applications).

Ann Scott, Development Manager (Essex) at FSB said: “Congratulations to all 12 of the East of England FSB Celebrating Small Business Award winners. They are reflective of the vibrancy, innovation and tenacity that make up our community of 5.5 million small business across the UK”.

Reflecting on the high calibre of entries, she continued: “It’s been thrilling to see so many small businesses in the East of England enthusiastically take part in our awards. The sheer scale and diversity of those who entered

is a testimony to their resilience and vitality. With the cost-of-living crisis, things are still tough for our small businesses so it’s inspiring to see so many businesses thriving”.

With record numbers of entries this year, the awards are designed to recognise and celebrate the achievements of small businesses and the self-employed from across the UK.

Finalists from across twelve areas will now proceed to the national UK finals which take place at a VIP awards ceremony at Blackpool’s iconic Winter Gardens.

Emma Robson from Stort Valley Gifting said: “There are so many incredible small businesses in the East of England, so for us to be recognised with the Micro Business award is a true honour.

“As a business, we are passionate about championing local; not only with our gift hampers, which focus on the best of Herts and Essex, but also with the suppliers we use from our desks to our ribbon printers, and everything in-between.

“We believe small businesses are at the heart of every community and hope that by winning this award it will allow us to share with others the delights our region has to offer. We are so grateful to everyone who has supported us in our journey – without our customers we wouldn’t be where we are today”.

Emily Arnold, from Vanlife Conversions Ltd, added: “We are absolutely delighted to hear we have won the East of England Service Excellence Award. We strive to form a genuine connection with each client, working closely to create their personalised off-grid van as each van facilitates the next chapter in their lives.

“This award is a resounding testament to our team's dedication and passion. They consistently go above and beyond, ensuring our clients’ expectations are not just met, but exceeded.

“To our cherished clients, thank you for entrusting us with your dreams. And to the Federation of Small Business, thank you so much for this honour and recognition. It truly means so much.”

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Support your staff and your community by setting up a Payroll Giving scheme

ESSEX Community Foundation (ECF), the independent charitable trust based in Chelmsford, has been working with businesses for nearly 30 years, helping them to shape their corporate social responsibility and support their local community.

Funds set up by local businesses with ECF have awarded £665,000 in grants in the past 12 months to local charities and voluntary organisations. ECF currently manages 180 individually named charitable funds, of which 26 have been set up by Essexbased businesses. These include Birketts, Birkett Long, Chelmsford Star Co-op, Ellisons, Rickard Luckin, RSM Saffron Building Society and Teledyne e2v.

for children with disabilities and respite for their families, support for people who are homeless, and foodbanks helping people in need.

Perry Norton, head of development at ECF said: “Businesses are often judged by the difference they are making in their local communities and it's a trend we have been seeing for some time.

“People are paying more attention to how companies engage with and contribute to the communities where they operate. This can include everything from environmental sustainability initiatives to charitable donations, support for local events, allocating time for staff volunteering, and encouraging staff to use their skills and expertise through charity trusteeship.”

Accuro, which provides activities and respite to families who have children with disabilities, is one of the charities that has received support from Saffron Building Society’s Community Fund set up with ECF in 2011.

Grants from these funds are providing a wide range of support, including friendship and dementia clubs for older people, counselling for survivors of domestic abuse, support for LGBTQIA+ communities, activities

Companies who actively demonstrate their commitment to supporting their communities can enjoy a range of benefits, including enhanced reputation, increased customer loyalty, and improved employee morale. As a result, many businesses are incorporating community support and social responsibility into their core values and strategic planning, recognising that it's not just good for society but also good for business.

Perry explained: “With around 5,000 registered charities in Essex and the same number of voluntary and community groups, it can be difficult to know who to give money to and where it will have the greatest impact.

“At ECF we work with businesses helping them to establish an approach that fits with their corporate ethos, while making an immediate difference and having a lasting impact on the lives of local people.

Why set up Payroll Giving?

l For employees, it offers a simple, pre-tax way to support causes they care about, maximising the impact of their donations.

l For charities, it's a steady, tax-efficient funding stream that saves on administrative costs.

l For employers, it can demonstrate their commitment to social responsibility. Plus, any matching payments or costs associated with running the scheme can also be offset against profits, thereby reducing Corporation Tax

“If businesses set up a charitable fund with us, staff can become fully involved in fundraising and making decisions about which charities to support. We introduce them to grassroots organisations they may not be aware of and are in need of funding.”

One of the easiest ways for businesses to engage their staff in supporting their community is to adopt a Payroll Giving scheme which is a tax efficient way for individuals to support charities.

However, a recent survey by the Charities Aid Foundation (CAF) highlighted that only 4,000 UK employers currently offer Payroll Giving and the number of employees donating to charity through payroll giving has declined by 13 per cent since 2020.

This drop in donations means local charities are potentially missing out on millions of pounds at a time when the rising costof- living is having a huge impact, as they try to balance paying increased running costs alongside greater demand for their services.

Dan Insley is a partner at Streets Whittles, a chartered accountancy firm working with businesses and individuals across

Essex and Suffolk. The company has a long association with ECF and has provided a payroll service on a pro bono basis since the Foundation started in 1996.

Dan said: “Payroll Giving is a convenient and effortless way for employees to voluntarily donate to registered charities directly from their salary, eliminating the need to make manual bank transfers or paperwork.

“Interestingly, not many employers offer Payroll Giving and few employees seem to be aware that the system exists. This is surprising as there are clear tax benefits to both the individual and the employer and setting up a Payroll Giving scheme is quite straightforward.

“There are a number of approved Payroll Giving agencies who can work with your payroll department or provider to set up a process and add the salary deductions into your payroll system. Once established, the agency will facilitate the process of deducting donations from employees' salaries and distributing them to their chosen charities.”

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If your business would like to discuss ways to support your community, please contact Perry Norton at ECF on 01245 355947 or email perry@essexcf.org.uk

Ready for personal tax changes?

AS we ushered in the new tax year, several significant changes impacted individuals' finances. Below are some of the key changes and their impact outlined:

Dividend allowance slashed: the tax-free dividend allowance has been reduced from £1,000 to £500. This will affect both those who receive dividends as part of investments but also individuals who trade through a limited company preferring to take a minimal salary, plus dividends – an approach which can be more tax efficient in terms of remuneration planning, as dividends are not subject to National Insurance and taxed at a lower rate than salary.

Capital Gains Tax threshold reduced: the annual exempt allowance for capital gains tax (CGT) has been halved from £6,000 to £3,000, down from £12,300 just two years ago. Additionally, there is a new reduced CGT rate of 24% for residential property sales for higher-rate taxpayers, down from 28%, while the basic rate remains unchanged at 18%. These changes may give rise to the need to consider the sale or acquisition of property or other business assets which might be subject to CGT.

National Insurance Contributions reductions for employees and the selfemployed: employee National insurance Contributions (NICs) saw a further 2% reduction to 8%, following a prior 2% cut announced in the Autumn Statement 2023. This reduction is estimated to save the average worker on £35,400 over £900 annually, resulting in a reduced tax rate of 28% for basic rate taxpayers compared to the previous 32% as of 5 January 2024. For self-employed individuals, the main rate of Class 4 NICs has been reduced from 9% to 6%, alongside the abolition of the requirement to pay Class 2 NICs. These changes aim to simplify the tax system and save an average self-employed person on £28,000 more than £650 annually.

Threshold freezes and adjustments: the basic rate and higher rate tax thresholds remain frozen until 2028 at £12,570 and £50,271, respectively. This freeze may pull more taxpayers into higher-rate tax brackets, with more than a million expected to face 40% tax charges for the first time. The additional tax 45% threshold remains unchanged at £125,140. Additionally, the income limit for married couples' allowance increases to £37,000 from the current £34,600.

Michael Greene, Partner Streets Whittles Chartered Accountants, looks at some of the personal tax changes we recently encountered in the new tax year on April 6.

Pensions: for private pensions, the new lump sum allowance is £268,275, while the lump sum and death benefit allowance is £1,073,100, with the lifetime allowance being eliminated. The state pension increased to £221.20 a week from £203.85 and working tax credit elements also saw adjustments.

Inheritance Tax remains frozen: the IHT threshold remains frozen at £325,000. With no increase for 15 years, perhaps not surprisingly the amount paid to HMRC in IHT is at an unprecedented level with £7.5bn said to be collected in the tax year 23/24. It might therefore be time for many to look at IHT planning in the year ahead.

Looking for a new accountant or tax adviser? Your search is over
61
Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk
62 Prime location High-quality office space 01206 577667 020 7518 3335 ben.lecoq@carterjonas.co.ukewan.dodds@whybrow.net Visit knowledge-gateway.co.uk Knowledge Gateway Parkside Clingoe House Move to our Knowledge Gateway research and technology park to access our campus facilities including our award-winning parkland, link-up with world-class researchers, benefit from our business support and networks, and connect with our talent pool of graduates and students. Join a thriving community of innovators, entrepreneurs and like-minded businesses Suites from 1,873 sq ft to 32,432 sq ft Available now

Parkside Office Village celebrates 10th anniversary

PARKSIDE Office

Village, the bustling innovation hub located on the University of Essex’s Colchester Campus, is celebrating its 10th anniversary this month (June).

As part of the university’s dynamic Knowledge Gateway research and technology park, Parkside offers a prime location for companies looking to thrive in a setting that offers not only outstanding amenities but exceptional opportunities for business development and research.

One such business is Sandersons, patent and trademark attorneys, which was one of the earliest tenants. It has seen the Knowledge Gateway grow considerably with the opening of further phases of Parkside, including the £10.7m Clingoe House in 2024 and the nearby Innovation Centre in 2019.

Practice Manager, Phoebe Fuller, said: “The primary attraction for us was the innovation developed within the university and the subsequent development of the Innovation Centre.

“It also seemed a good location because of the opportunities, services, ease of travel to and from the site, and it’s also just a really nice place to be. It’s lovely, bright and open, which is good for creative thinking and, with other businesses around, it provides plenty of opportunities for interaction.”

These opportunities include business-focused and networking events held at the Innovation Centre, Essex Business School which is also on the Knowledge Gateway and other locations on the Colchester campus. Businesses

also benefit from the university’s business engagement programme including the opportunity to get involved in the Knowledge Transfer Partnership (KTP) schemes. Essex is the number one university for KTPs – the UK Government’s world-leading programme for connecting businesses to research talent – working with close to 50 innovative companies.

Another company that joined Parkside early is WillisPalmer, a leading independent business established in 2004 to provide specialist social work services and multi-disciplinary assessments to local authorities and courts.

When the business outgrew its original premises, Parkside was identified as a highly desirable location, as Operations Director Dave Wareham explained. “We needed larger, better equipped offices and were keen to make connections with the university and its social work faculty, as well as the School of Health and Social Care, so Parkside was an obvious choice.

“It’s also a pleasant working environment, so much better than being in the city centre. Getting to the office is quicker and easier and,

as we have allocated car parking, it’s much less stressful.

“The university grounds are also lovely, especially in the summer when we can walk around the lakes and outside areas, and having the shops and restaurants on campus is really convenient.”

The connection to health and social care was reinforced earlier this year when the Health, Wellbeing and Care Hub and the Institute of Public Health and Wellbeing moved into Clingoe House at Parkside.

These links to health were also an appealing characteristic for another company that has recently taken up tenancy – GP Primary Choice, a primary care company that supports the interests of more than 375,000 patients across north-east Essex.

Owned by 32 GP practices in Colchester and Tendring, Parkside’s location is ideal, as Chief Executive Officer Joanne Sunderland explained. “We were keen to work alongside like-minded businesses and researchers focused on health issues.

“We looked at several different options and this had everything we needed. We turn left for

Colchester and right for Tendring, so the location is perfect. It also offers the added benefit of being able to go out for a walk in the parkland around campus when we take a break, so we’re delighted to have ticked all our boxes, plus a few additional ones.”

Another recent arrival at Parkside is accountancy practice Adauxi, which moved across from the city centre in early 2023.

Managing Director Neville Pearson said: “Parkside is a breath of fresh air. The energy, the space, the potential for collaboration – it all aligns with what my business represents. There is a vibrant community here we are just beginning to tap into. There is also room for my business to grow within our existing space, which will save me a lot of upheaval during the coming months and years as I look to expand the team.”

Jamie Burns, Head of Operations for the Knowledge Gateway, is proud of what Parkside has achieved so far. “We have been able to attract high calibre businesses because we really do offer something special.

“In addition to the unrivalled opportunities for networking and collaboration, we have ample onsite parking, we’re close to major transport links, including London Stansted Airport and the A12 and are within very close proximity to Wivenhoe House Hotel, which is an ideal location for corporate entertainment.

“We leverage the university's extensive resources, from cuttingedge research facilities to a talented pool of students and graduates. Parkside epitomises this synergy, combining eager learners, passionate researchers, and forward-thinking businesses.”

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 63
The second phase of Parkside completed in 2019. Issue 31 | Spring 2024

Navigating financial changes for colleges: VAT challenges and expert solutions

MY colleague Gillian McGill, a VAT expert, and I recently recorded an episode of the Larking Gowen Insights podcast

difficulties in managing major projects and routine operation.

Moreover, the inequitable VAT treatment in further education (FE) increases financial pressures on colleges. While academies enjoy favourable VAT recovery, colleges are left at a disadvantage, with VAT making costs significantly higher and reducing funding per

Despite campaigns urging VAT reform, including the recent efforts by the Association of Colleges, no substantive changes have been implemented. Political will and potential legislative shifts may hold the key to addressing these disparities in VAT treatment.

We discussed the Colchester Institute case which underscores the complexity of VAT regulations for colleges. The ongoing ambiguity surrounding VAT rules necessitates professional advice and proactive management to navigate the intricacies effectively.

At Larking Gowen, we offer tailored solutions and expertise to support colleges in managing their financial obligations. From optimising VAT recovery to providing training

Giles Kerkham, Not for Profit Partner at accountancy firm, Larking Gowen, examines the challenges facing colleges amid recent regulatory developments.

and guidance on tax matters, our team is committed to assisting colleges in overcoming challenges and maximising financial efficiency.

In conclusion, while the financial landscape for FE colleges has major challenges, expert guidance and proactive management can help navigate complexities and make sure there is financial sustainability in the ever-evolving education sector.

You can listen to our podcast episode for a more detailed summary at www.larkinggowen.co.uk/LGI

Strategic and Proactive Business Advice from an Award-Winning Law Firm Mary Anne Fedeyko Head of Corporate & Commercial 01206 574431 www.tsplegal.com

Let’s find time to celebrate our achievements

I’VE been wracking my brain to come up with something to write about, something that’s relevant, interesting and showcases some of what we do here at ACL. I sat with some of my team and started to go through things we’ve done recently to try and pick something for me to write about.

I’m not sure any of us give enough time to reflect on what we are actually achieving or have achieved. We are all so caught up in the day-to-day, getting through the to-do list, attending meetings and just doing what we all need to do to get through the working week. Add to that all the things we do outside of work and bam - its nearly Christmas again!

In a recent performance meeting with colleagues from across our directorate, a new feature was added to celebrate successes. There were some amazing things on there, but I noticed nothing from our service. How could this be? We do so much. Why wasn’t it recognised and made podium-worthy? The simple answer was that we’ve been so caught up in getting the job done, some really

noteworthy achievements are getting lost in the business as usual stuff. I commonly hear teams saying, ‘it’s what I get paid for’, ‘it’s our job to support people’ or ‘why wouldn’t we do that’. All true, but so many times we go above and beyond and just see it as business as usual.

As a manager, I always try and acknowledge those above and beyond moments with a thank you or a shout out to the relevant person - making sure others know who’s been responsible for an outstanding piece of work or given time and support to help others. Small things but a nod to their efforts and a few moments to shine a little brighter in the limelight.

So, with all that in mind I’m going to shine a spotlight on some of our achievements during the past six months (nine by the time you read this). Had an Ofsted inspection in December and retained our Good grade, started delivery of our three Skills Bootcamps in January, introduced warehousing and facilities apprenticeships in February, launched the Poppins Early Years Bursary in March, refreshed and relaunched our Multiply offer in April and signed off on our new website in May.

Amanda Rawlings, Commercial Manager at ACL (Adult Community Learning) Essex, celebrates so many recent achievements by her team and one by herself - writing this article in time!

And none of the above includes the amazing achievements of our staff and learners (hold that thought for the autumn edition where I’ll be showcasing some of those achievements from our awards in July).

Reflecting on our achievements is so important, whatever work it is we do. We should celebrate it and pat ourselves (and others) on the back for jobs well done, a mini blast of dopamine to spur us on to our next great achievement – or, in my case, completing this article on time!

Fisher Jones Greenwood LLP bolsters legal services through strategic group expansion

FISHER Jones Greenwood LLP (FJG), a prominent law firm based in Essex and Suffolk, is poised to enhance its market presence even further following a significant strategic acquisition by its parent group, Lawfront.

Lawfront has acquired Slater Heelis, an £18m-revenue law firm in the north-west, joining Fisher Jones Greenwood in East Anglia, Nelsons in the East Midlands, and Farleys, also in the north-west.

This latest addition strengthens the expanding

Lawfront network, offering significant benefits to FJG and its clients across East Anglia.

Slater Heelis, a leading fullservice law firm headquartered in Manchester and Sale, brings more than 250 years of legal excellence and a strong track record in areas such as crime (including business crime and regulatory), court of protection and Insolvency.

This expansion into new legal territories enriches FJG with additional expertise and resources, allowing the firm to enhance its already robust range of services.

“Joining forces with Slater Heelis under the Lawfront

umbrella enriches our capabilities significantly,” said Paula Fowler, Chief Executive Officer at FJG.

to make Legal advice

“This partnership not only broadens the scope of our services but also fortifies our existing departments, ensuring we continue to provide the highest quality legal support to the communities of Essex, Suffolk and beyond.”

The integration of Slater Heelis into the Lawfront group means FJG clients will now have access to a wider array of legal specialists and services, reinforcing their commitment to

excellence and client satisfaction in the region.

For more information about Fisher Jones Greenwood LLP and its services, please visit www.fjg.co.uk or call 01206 835300.

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 65
of working with of legal services. LPA, Commercial Conveyancing, Corporate Dispute Resolution, and employees, services, Planning providing joined legal affairs with Contact us today, offices,

Death of sole shareholder directors: potential perils for the company

PRIVATE limited companies often feature a sole shareholder who is also the company’s sole director, which can unfortunately, following the director’s death cause problems for the company unless appropriate arrangements are in place that allow for the appointment of new directors quickly.

A company without directors can experience significant challenges in continuing to trade, ranging from frozen bank accounts, to an inability to make payments to creditors, suppliers and employees, and to enter into contracts and commitments that allow the company to continue to trade.

Typically, a company's articles of association dictate director appointments by shareholders or existing directors. But, if the sole shareholder director has died, there may be no mechanism by which a new director can be appointed, unless express provision is made for this in the company’s Articles of Association.

Where bespoke Articles have been adopted by a company, these may allow an executor to vote in respect of the deceased’s shares to enable the appointment of a new director, even

though the shares will still be registered in the deceased’s name. Where bespoke Articles have not been adopted, the ability to appoint a director in these circumstances will depend upon when the company was incorporated.

For companies incorporated under the Companies Act 2006, adhering to Model Articles permits executors of deceased shareholders to appoint new directors. Conversely, under the Companies Act 1985 with Table A standard Articles, executor appointment of new directors hinges on registration in the company's members' register post probate grant. Obtaining a grant of probate can be a lengthy and drawn out process, during which time the company will have no directors and will be at risk of being unable to continue to trade.

Where no surviving directors exist and mechanisms for new director appointments are absent, executors of deceased sole shareholderdirectors will be unable to update the company’s register of members (as new holders of the deceased’s shares) without an application to, and an order of, the court for rectification of the register, and the court’s authority to undertake the rectification. Courts may, under certain circumstances, allow executors to rectify the register and appoint new directors without probate grant, particularly in cases where

Nick Mayles, director and solicitor with Colchester-based legal firm, Thompson Smith and Puxon, looks at the potential perils of the death of a sole shareholder director.

share ownership isn't contested and executor assurances are provided.

Business owners should therefore ensure that plans are in place that protect the business, and allow it to continue to trade, in the event of the owner’s death (or incapacity). Sole shareholderdirector companies should review their articles of association for provisions enabling executorled director appointments post the shareholderdirector's demise or incapacity. Furthermore, owners should ensure wills align with company articles of association and any shareholders' agreement to facilitate seamless transition and continuity in directorship.

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Innovation, investment, infrastructure and expertise: welcome to NEEB

WHAT is the North Essex Economic Board (NEEB) and what does it seek to achieve for the businesses and residents of North Essex?

NEEB is a dynamic partnership of local authorities focused on driving sustainable economic growth and development in the North Essex region.

Made up of members from Braintree, Colchester, Chelmsford, Harlow, Maldon, Tendring, Uttlesford, Epping Forest District Councils and Essex County Council, NEEB is working to empower businesses, support entrepreneurship, develop skills and enhance residents' quality of life. By leveraging resources and expertise, it aims to build resilient communities and create a region of opportunity for future generations.

Having spent thepast 12 months assessing local area data and establishing the key needs for the area, it has now released the NEEB Strategy, a plan forged to leverage North Essex’s core strengths and highlight the area for future investment and growth.

The findings of the data analysis exercise made clear there were four themes (key strategic priorities) that united all seven authorities, from which a coherent and compelling North Essex Vision could be built. These are:

1 - Innovative Businesses and Skilled Residents

2 - A Green and High Growth Economy

3 - A Dynamic and Connected Region

4 - Prosperous and Inclusive Communities

What does this mean for the business and residents of North Essex?

1 - Innovative Businesses and Skilled Residents

With North Essex’s substantial SME community driving entrepreneurship and innovation, three highly successful Higher Education institutions leading cutting edge research in areas including computer and data science and thriving Further Education institutions delivering the technical skills and qualifications that form the backbone of any resilient economy, NEEB wishes to ensure residents and businesses benefit from increased inward investment that helps to ensure continued personal and professional growth.

Opportunities:

• support young entrepreneurs to access skills and funding to start their own businesses

• share knowledge between educational institutions and businesses through Knowledge Transfer Partnerships to support innovation and growth

• identify skills gaps in the community and provide support and access to relevant courses helping them to upskill or gain employment

• provide support and advice to businesses across the region, supporting them to grow and highlighting key sectors for development.

2 - A Green and High Growth Economy

A forward-looking economy that utilises the diversity of its resources in a sustainable way that furthers North Essex’s clean energy strengths, boosts growth, and promotes residents’ prosperity through net zero commitments.

Starting with renewable electricity capacity and generation, North Essex has the potential to build on its incumbent strengths in this space, positioning itself as a renewable energy exemplar. The regional renewable electricity strengths are driven by three main

sources of energy – onshore wind, onshore wind and solar power.

Opportunities:

• build upon infrastructure already in place that is supporting renewable electricity generation

• boost North Essex’s Solar Power capacity

• EV charging infrastructure

• drive forward green technology and techniques.

3

- A Dynamic and Connected Region

A well-connected and digitallylinked region that provides residents with quick and reliable access to key services, encourages inward investment, and makes the most of ties to regional and international neighbours.

With North Essex’s outward facing transport terminals forming important strategic trading links for the UK and best practice work delivered in the rollout of superfast broadband across the region, it is now imperative the region focuses on how it can drive infrastructure improvements. Specifically, the region should be focusing on how it can increase the region’s roads’ capacity, improve authority-toauthority public transport links and boost ultrafast broadband availability. These improvements will further North Essex’s economic growth potential, through greater inward investment and businesses establishing themselves in the region.

Opportunities:

• build on external facing transport terminals

• build on the internal transport infrastructure

• increase in active travel initiatives to ensure residents and businesses can quickly and efficiently move around North Essex

• learn from Superfast Essex’s Broadband successes, to

further ultrafast broadband progress.

4 - Prosperous and Inclusive Communities

A thriving and inclusive region where all residents and businesses have the opportunity to contribute and prosper, exemplifying the region as a great place to live, work and visit.

With North Essex’s successes in securing central government levelling up funding, its thriving third sector and its distinct urban, rural and coastal characteristics, there is a real chance to advance pride in place and boost residents’ confidence and economic engagement within all North Essex authorities.

Opportunities:

• build on central Government funding, secured as part of the levelling up agenda

• working with partners to promote the success of Town Deal, Levelling Up and UK shared Prosperity funding to support promotion and supporting the case for continued central government and wider investor support to enhance communities within the region.

• scaling up of district specific programmes and initiatives to benefit all across the region.

Through key initiatives and collaborative thinking, NEEB strives to make North Essex a prosperous, thriving, and forward-thinking region, that supports its residents and businesses and attracts future investment for growth.

To find out more about strategy, and NEEB’s plans for economic growth in the region, please visit https://neeb.org.uk/ourstrategy/

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 67

To be part of future issues, email Editor Peter Richardson at peter@pjrcomms.co.uk or call him on 07778067614

w an eighth-page advert in BusinessTime in Essex, whose 25,000-strong readership each issue, in print and online, includes every member of Essex Chambers of Commerce and the Essex Federation of Small Businesses, amongst many others

w a 500-word company profile on www.businesswire-essex.co.uk (our amazingly Google-friendly news/PR online platform – try Googling Essex business news or Essex business scene if you don’t believe me!) complete with full interactive contact details back to your own website

w free use of www.businesswire-essex.co.uk to post regular articles about your business and/or your sector, again with full contact details w a 50% discount on any advertising space taken on our two websites

Putyourself in the county’s largest business shopwindow

For homeowners & businesses, start your journey at Looking to reduce your energy bills? myecoedge.com C M Y CM MY CY CMY K TWI_BTIE_92x63mm_eight page.pdf 2 14/05/2024 13:28 Let us make your customers hungry for your food, with stunning photography, video, and websites www.dragonfruitfoodmedia.co.uk 07927 515996 Put the cherry on the top of your food and drink marketing
wants to get the very best value from their marketing budget
so this new feature, The Essex Marketing Place, is perfect for you, however limited your budget! For just £99 an issue (that’s a mere £33 a month or £1 a day!) you can enjoy: If Carlsberg did marketing packages…!
Everyone, understandably,

ELEVEN Essex firms have won the highly prestigious King’s Awards for Enterprise 2024 for outstanding business achievements.

The awards celebrate achievements in four categories: innovation, international trade, sustainable development and promoting opportunity through social mobility.

The King’s Awards are recognised around the world as a benchmark of quality. The successful firms can now proudly display the emblem to enhance their commercial value and prestige.

Winners of the King’s Awards for Enterprise 2024 from Greater Essex are:

• Innovation: Dura Composites Ltd, Clacton-on-Sea

• International trade: Select Tech Limited, Billericay

• International trade: RSS International Ltd, Stanfordle-Hope

• International trade: Skysmart MRO Ltd, Great Dunmow

11 Essex firms win prestigious King’s Awards for Enterprise

• International trade: Atlantic Pacific Global Logistics Ltd, Basildon

• International trade: Airline Component Services Ltd, Braintree

• International trade: Kestrel Liner Agencies Ltd, Stansted

• International trade: Direct Meats (Knights Farm) Ltd, Colchester

• International trade: Titan Airways Ltd, Stansted

• Promoting opportunity through social mobility: Ipeco Holdings Ltd, Southend-on-Sea

• Sustainable development: Climbing Trees Online Marketing Limited, Colchester

The 2025 awards are now open for applications and all eligible

SPECIAL CONSTABLE

Essex firms are invited to apply.

Essex County Council hosted a webinar to support this year’s applicants. Businesses can watch the recording to discover tips and insights from past winners and local experts.

Councillor Tony Ball, Cabinet Member for Education Excellence, Lifelong Learning and Employability at Essex County Council, said: “I am thrilled to see 11 Essex businesses on this year’s list of King’s Awards winners. This demonstrates the strength and diversity of our local economy, and the success within the International Trade category clearly evidences our business' global impact.

“We are committed to supporting the growth of Essexbased businesses. From our dedicated business support service – Backing Essex Business

– to our calendar of events, there’s something for businesses of every size and sector.

“I strongly encourage Essex businesses to enter the King’s Awards for Enterprise 2025. I hope to see more local winners next year as we build our economy for future generations.”

Jennifer Tolhurst, LordLieutenant of Essex, said: “I would like to congratulate our awardees for 2024. To receive the highly prestigious King’s Award for Enterprise is a great honour, and a fantastic acknowledgement of the tenacity that these winning Essex businesses have shown during a challenging period of rising costs and economic uncertainty.

“I would also like to thank Essex Chambers of Commerce, the Federation of Small Businesses and the many other local groups and networks who have helped to promote the awards. I also extend my gratitude to the county’s past winners, who have given their time and expertise to support potential applicants. They remain incredible ambassadors of the awards and embody the highest levels of professionalism and integrity.”

TO FIND OUT MORE ABOUT THE SCHEME, EMAIL:

OR VISIT US ONLINE BY SCANNING THE QR CODE

The scheme is completely bespoke and there is no contractual commitment for any party.

Special Constables are fully warranted police officers, wearing the same uniform, have the same powers and are bound by the same codes of ethics as regular police officers. You can support them by registering with the Employer Supported Policing Scheme by allowing them some time off to volunteer in the community.

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk 69
DO YOU HAVE A IN YOUR BUSINESS?
THIS AMAZING
GROUP OF PEOPLE CHOOSE TO DO ALL THIS IN THEIR SPARE TIME
SPECIALS.COMMAND.ESSEX@ESSEX.POLICE.UK

Latest campaign supports wildlife by tackling litter

ARMED with pickers, gloves and bin bags, five times as many as expected individuals, families, businesses, schools, nurseries, walking groups and litter-picking groups joined the fight against litter in Essex earlier this year.

Why? Two million pieces of litter are dropped in the UK each day. Litter and plastic pollution have far-reaching impacts on wildlife: wildlife can get entangled in litter, hurt themselves on sharp discarded items and ingest litter, with harmful consequences.

Joe Benton, Essex Wildlife Trust Corporate Partnerships Manager, reports on Spring Pickers, a campaign which collected more than 20,000 pieces of litter, thanks to huge public efforts and local businesses.

people to pick up five pieces of rubbish every day for 10 days. The campaign reached more than 400,000 people through social and standard media. Based on sign-ups alone, a whopping 23,850 pieces of litter were removed from the environment between March 8-19. We were delighted to see so many went above and beyond the five-aday target. It was also incredibly encouraging to have the support of local businesses too, doing their part in keeping communities litter-free and in a healthy state to support wildlife.

We want to keep creating powerful partnerships on genuinely transformational

world so if that’s in conversation, we’re here to talk ideas.

hubs and libraries who pledged their support to our campaign. After such a success, we’re engaging with local business to see how we can amplify it further and even looking at campaign sponsorship. Get in touch if you’d like your brand represented alongside a community event like this, have questions about nature and business or want to support the work of the Trust.

For more details on leaving a Gift in your Will, call our Legacy team on 01621 735233, visit www.essexwt.org.uk/gifts-in-wills or scan the QR code.

Here's one of our corporate members, Anthony Payne from Monthind Clean, talking about the Spring Pickers campaign: “Not only did I find the campaign rewarding, it also has health benefits, both physically and for our wellbeing in general. Equally a great team building exercise for businesses to get involved with.”

And we’d love to hear from you too. We want an open dialogue with the businesses that make up our county, to hear what nature and wildlife means. Drop me a line at joeb@ essexwt.org.uk

Issue 32 | Summer 2024 | www.businesstimeinessex.co.uk
Love
Registered
No 210065.
Kingfisher photo: Jon HawkinsSurrey Hills Photography Help
Just a 1% Gift in your Will to Essex Wildlife Trust will protect nature and the wild places you love.
Essex • Love Wildlife
Charity:
us nurture nature forever with a Gift in your Will today

ESSEX BUSINESS PODCAST

For business owners and leaders that are looking for practical advice, tips and inspiration from peers and professional advisers across the county and beyond.

In the latest episode of the Essex Business Podcast, our guests share practical tips and strategies for expanding your network, nurturing meaningful relationships, and unlocking new opportunities.

RECENT EPISODES INCLUDE:

EPISODE FORTY-FIVE: THE POWER OF NETWORKING: NURTURING RELATIONSHIPS FOR SUCCESS

EPISODE FORTY-FOUR: LEADERSHIP LESSONS: INSPIRING SUCCESS IN A DYNAMIC BUSINESS WORLD

EPISODE FORTY-THREE: DIGITAL TRANSFORMATION: LEVERAGING TECHNOLOGY FOR BUSINESS SUCCESS

Visit www.essexbusinesspodcast.co.uk or subscribe directly from your usual podcast content provider by searching ‘Essex Business Podcast’

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