Think Enterprise January 2019

Think Enterprise Publication | January Edition

READ INSIDE

IS YOUR BUSINESS PREPARED FOR

BREXIT

IOEE ACADEMIES TAKE NOTE

NEW QUALITY ASSURANCE STANDARDS NEW APPRENTICESHIPS CAMPAIGN

FIRE IT UP!

Vol. 26

THINK ENTERPRISE January Edition Vol. 26

CONTAC T US 53 Coniscliffe Road Darlington DL3 7EH 0845 467 4928 newsletter@ioee.uk ioee.uk

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SARAH TROUTEN, IOEE CHIEF EXECUTIVE Happy New Year (is it too late to say this?) and welcome to our very first edition of 2019!

This month we feature the IAB Awards whereby I was honoured to be invited to present the Small business mentor of the year award. Mentoring is a vital support tool for small businesses so it’s fantastic to see so many committed to volunteering their time to this. If you’re considering mentoring why not take a look at our mentoring essentials module, free to all members within the IOEE Campus.

With the new “Making Tax Digital” legislation coming in to force on the 1st April, we’ve reviewed what this means for you and what steps you need to take now to ensure you’re ready. We’ve also reviewed Brexit this month, providing thoughts on how to ensure your business is ready for the impact of Brexit.

It’s fantastic to see the new Fire it up campaign, raising awareness of the huge range of learning and development opportunities for people of all ages and sectors.

This month we chatted to Lewis Mowbray our marketing and social media whizz and find out what he loves getting up to inside and outside of the office.

Our quality assurance team have been busy and we are delighted to be launching our new Quality Assurance Guidance, our new approach will mean or Academies have a clearer understanding of our requirements and be better supported to meet these. Read more on page 24 and look out for the guidance coming out to you.

And finally we catch up with Enterprisingly Me – whose struggle to get people to pay on time will strike a cord with many.

So keep warm and safe and enjoy this months publication x

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CONTENTS 6. GLOBAL KNOWLEDGE EXCHANGE NETWORK AT IOEE CENTRE OF EXCELLENCE, LSBU Incase you missed it... Last month LSBU hosted it’s African Knowledge Exchange Conference with special guest Brian Cox!

»» p.6

8. iAB AWARDS 2018 Here at SFEDI Group we were very proud to sponsor the 2018 IAB Awards Small Business Mentor of the Year award, it was a fantastic event all round and head to page 8 to read more.

12. SPOTLIGHT ON: LEWIS MOWBRAY

»» p.8

This month we’ve spoken to Lewis Mowbray the Marketing & Communications Officer here at the IOEE. Lewis graduated from University in 2014 with a BSc in Computer Graphics and we’ll get an insight into Lewis’ role, head to page 12 for more!

14. making tax digital

»» p.14

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If it hasn’t already been on your to-do list then it definitely should be by now! Believe it or not it’s now less than 90 days until the first phase of the new Making Tax Digital (MTD) legislation comes into effect for VAT.

14. enterprisingly me A monthly feature where you can follow entrepreneurial adventures. Names have been changed to protect the innocent but everything you read really happened, making for a very interesting read.

16. BREXIT READiNESS »» p.14

We take a look at what Brexit will mean for UK Business’ and how you can ensure that your business is ready for the impact of Brexit in the initial stages and moving forward.

23. NEW APPRENTICESHIPS CAMPAIGN A new national apprenticeship campaign is now live: ‘Fire It Up’ will help raise awareness of the huge variety of apprenticeship options. »» p.16

24. IOEE academies recieve new quality assurance standards We’re paving the way with new Quality Assurance Standards - with the ever changing nature of delivery and quality assurance of vocational training, the workplaces we operate within and the changes in the regulatory environment for qualifications.

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Renowned physicist Brian Cox addresses African knowledge exchange conference at IOEE Centre of Excellence, LSBU Professor Brian Cox speaks at a symposium on the theme of popularising science in Africa co-hosted by LSBU and the Global Knowledge Exchange Network

London South Bank University, in partnership with the Global Knowledge Exchange Network (GKEN), played host to a symposium on the theme of ‘popularising science in Africa’ on Saturday 8 December.

Renowned physicist, Professor Brian Cox (pictured above left, with student Sohail Jassemi Moosavi) gave the keynote address, in which he spoke about his involvement in a project to build a giant telescope in the Ethiopian desert, which led to a growing personal involvement for him as a scientist in Africa.

Professor Cox went on to deliver an animated presentation on the general theme of ‘Exploring the Universe’, touching on Stephen Hawking’s research into radiation from black holes, quantum mechanics, galaxies, solar systems, expanding space, exploding stars and light and dark matter. Brian spoke passionately about the importance of science in our everyday lives, a notion that parallels GKEN’s aim to promote scientific research and education across Africa.

Brian Cox upon arriving at LSBU and welcomed by one of the student ambassadors

Speaking at the conference, Professor Brian Cox said: “On my visits to Ethiopia, I have found that a thirst for knowledge and enthusiasm is common everywhere I go.

It’s only the question of possibility that’s key. All I have to do is go into a village to be greeted by wide-eyed children who just want to know about the Universe. I want them all to be physicists.”

Sarah Moore-Williams, Dean of LSBU’s School of Business said: “The Business School is very proud to have co-hosted this year’s GKEN Symposium.

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“London South Bank University has been transforming lives, communities and businesses for over 120 years.

Our mission is to be recognised as an enterprising civic university addressing real world challenges, with our research creating new knowledge with practical applications, helping to find solutions to global issues.

“We hope this GKEN event has helped move the debate on by exploring measures and ideas that will help Africa to meet its development goals. By combining natural and social sciences and innovation GKEN hopes to transform ideas and technologies into economic and social value for Africa.”

“By co-hosting GKEN’s symposium we have demonstrated our support for the importance of promoting science within Africa. This is a cause which is truly aligned to LSBU values and we are inspired by the potential impact we will be able to generate by working with GKEN to raise awareness of these important issues.”

The afternoon sessions included five detailed project pitches from one academic and four PhD candidates, addressing themes such as ‘Understanding Skills Needed in Africa’, teaching in Africa and measuring collaboration, which generated lively discussion among participants.

LSBU’s Professor Amare Desta, Co-founder & Director of GKEN said: “Africa needs to develop not only ‘science talent’ but also science and technology managers to ensure that the continent’s human, financial and institutional resources are efficiently mobilized and allocated. GKEN also wants to ensure that potentially useful research findings, including indigenous knowledge and practices, are robustly protected and exploited to obtain maximum benefit.

This symposium also received support from the Satellite Connectivity in Health and Education (SCIEH) group and marketing and communications firm, TIBEB Intermedia. It will be followed by another conference and workshop in Ethiopia in April 2019.

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IAB AWARDS 2018 A global audience attended the annual awards ceremony at the House of Commons on December 6, 2018, hosted

by IAB president Fabian Hamilton MP

Back in early December we were thrilled to be attending the International Association of Bookkeepers Awards 2018 as a sponsor!

The event itself being help in the Terrace Room overlooking the Thames, first to the stage was Fabian Hamilton MP, as praised the work of the IAB, its professional members, students and centres around the world, something we echo here at the IOEE.

This year SFEDI Group were sponsors of the IAB Small Business Mentor of the Year which was won by Laura Whyte FIAB, huge congratulations to Laura! Laura was presented her award by CEO of the IOEE Sarah Trouten.

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IAB 2018 Award Winners

The awards inspire and recognise excellence in IAB members, accredited centres, students and other professionals. The event also celebrates and champions the critically important contributions that bookkeepers, payroll professionals, accountants and enterprise mentors make to the success of millions of micro and small businesses.

Colin Faires MIAB was named Bookkeeper of the Year, a category sponsored by Lloyds Bank.

The other award-winners were: IAB Small Business Mentor of the Year: Laura Whyte FIAB (sponsored by SFEDI Group).

IAB Payroll Professional of the Year: Aisling Murray (sponsored by CIPP).

IAB Accountant of the Year: Samantha Nicholson MIAAP (sponsored by F A Simms and AMLCC).

IAB Student of the Year: Michelle Hammerton.

Tutor of the Year: This year there were joint winners: Helen Abari MIAB from Zatkhon Accountancy Training and Di Garbera MIAB from Golding Computer Services Ltd.

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SPOTLIGHT ON: L e w i s m o w b r ay

In this months installment of Spotlight On we’ve sat down over coffee with Lewis Mowbray to find out more about him and his role as Marketing Executive here at the IOEE. So Lewis, how was it you got into Marketing?

“Well it was something I fell into initially, it all started when I went to University in 2011 to study Computer Graphics and after graduating in 2014 I found I had developed a skillset I could transfer to a lot of different jobs.

I began as a Marketing Intern and have since worked my way up to Marketing & Communications Executive here at the IOEE” It sounds like you’ve made some great progress in your career so far, so what does your role at the IOEE

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currently involve?

“I’ve been at the IOEE for around 10 months now and I’ve loved every minute of it, I’m very thankful to have been given a role in which I can choose the direction for the IOEE. I am responsilbe for the content pushed out across the IOEE’s Social Media channels, pulling together exciting new articles for Think Enterprise monthly as well as bringing together content for our IOEE Members adding courses to the Campus and much more. There is never a dull moment here and we are always working on something to bring another feature to our IOEE Campus and members.

We have a lot that we are currently working on and we can’t wait to announce them in the near future, there is one thing that I can announce

and that is we will be looking to bring out a new IOEE Course on the campus each and every month, helping business owners and entrepreneurs are always at the cutting egde of business in the UK and further afield.

So what is it you enjoy doing when you’re not at work?

I’ve got a huge interest in technology generally and all things computing, I still play a lot of games having previously played Call of Duty at a professional level and attending tournaments throughout the UK, that makes me sound like a massive nerd!

I also have a huge passion for cars, ever since I was a child I’ve always loved Aston Martins, Ferrari’s, Pagani’s and so on! I was invited by Aston Martin’s CEO, Dr. Andy Palmer in 2017 to visit the HQ in Gaydon which was a fantastic experience to see the production line and gain an sneak peek and some of the upcoming models at the time. Finally Football is something I also love, still playing 5 a-side, although I could do with a bit more cardio, I support Sunderland which, well, the less said about that the better.

So I’d say I have quiet a varied range of interests, something which you wouldn’t necessarily put together.

With everything you’re working on at the IOEE is there anything which you particularly enjoy?

I’m thankful to be in a job and work environment which is very enjoyable but if I had to nail down one thing it would probably be working on Social Media and working towards new and engaging content for our followers and seeing the interactions with our posts grow as people discover the IOEE and some of the fantastic work we are doing in promoting Enterprise within the UK and supporting business owners and entrepreneurs alike.

Thank you for that Lewis, It’s been great chatting to you this morning and it sounds as if you have a lot in the pipeline which IOEE Members and Think Enterprise readers can look forward to seeing.

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Making Tax Digital If it hasn’t already been on your to-do list then it definitely should be by now! Believe it or not it’s now less than 90 days until the first phase of the new Making Tax Digital (MTD) legislation comes into effect for VAT. MTD will come into effect on Monday, April

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1st, 2019 meaning that all UK businesses with a turnover above the VAT threshold of £85,000 will need to keep digital records and submit VAT returns digitally.

Making Tax Digital is an HMRC initiative designed to ensure that the UK tax system

is effective, efficient and supports HMRC’s plans to be one of the most digitally advanced tax administrations in the world.

For many the introduction of Making Tax Digital will signify the end of paper based accounting systems and those using electronic spreadsheets such as Excel, will need to invest in specialist accounting software or bridging software capable of sending and receiving data from the HMRC website.

Any Accountant can advise on when, and how to digitalise a paper based system, and members are encouraged to raise any specific individual queries directly with their Accountant or HMRC. Those who already hold a digital submission exemption will automatically continue to be exempt.

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‘Enterprisingly Me’ is a monthly feature where you can follow my entrepreneurial adventures. Names have been changed to protect the innocent but everything you read really happened.

I hope my story inspires you to take your first steps, or if you already have, then it lets you know you’re not on your own. Starting and running a successful business isn’t about being perfect. It’s about loving what you’re doing, learning from your mistakes and keeping the faith!

It seems a while since I updated you what with both Christmas New Year celebrations getting in the way of work but its good to be back! It’s the one time of the year that most people in our type of business seem to be taking a rest. Well rest might not be the right word as our house was full of adults and children of all ages who arrived expecting to be looked after… Shouldn’t I be getting looked after at my time of life?

I seem to be in that middle generation that’s still looking after parents but also looking after my own children and now some inherited through association. Why did I not think about that when embarking on a new personal relationship – shouldn’t I have used my business acumen when choosing someone to share my life with – thinking with my head instead of thinking with my heart? I have a feeling that there are more challenges to come with this one. I really don’t have the time for ‘outside interests’ there’s so much going on in the business.

Remember I mentioned that I was about to embark on a new business partnership? Well we’ve got another opportunity to work with two people to create a piece of software that we think will revolutionise the way in which we deliver our qualifications. Things have moved really quickly and before we know it we’ve agreed to fund the development and help with the marketing of it.

It all seems too good to be true and although this seems like a really good business opportunity there is also a high element of risk associated with it.

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The new project is in software development, something I have absolutely no experience of however my son, who has recently joined the business from university, seems to think this is a really good move for us. Things that are niggling me include the following: •

We don’t have any experience of working with our new partners and although they seem like ‘canny lads’ you never really know people until you work with them.

•

The new product we’re creating has never been tried before so we are risking our time and money on something that is brand new to the market.

•

We are sure that this is something that is needed to improve the quality and ease of qualification delivery however there are so many technical obstacles to overcome that there’s lots that could go wrong.

But what the heck – you’re a long time dead and this is a brand new experience for us all and although it has happened very quickly I’m hopeful that this is just the start of us building and growing our business in a different way. We have built up lots of contacts who we can speak to about this and the people I have spoken to so far seem to think this is really good idea. What could go wrong? Yes we could probably have taken more time doing some in depth research but I’d much rather use my gut instinct and just get on with it. Anyway the two canny lads that we have taken onto our books have said

they have other offers so we’ve seized the day before we lose them… only time will tell if we’ve made the right decision.

The other new partnership is working really well – we’ve got some new qualifications and we’ve already got people wanting to sign up for the courses. The partner is wanting to take up office space in our building which will make it a lot easier for us further develop the courses and explore even more opportunities so all good!

Money is tight! Getting people to pay on time is an ongoing challenge. Why is it that people working for large businesses like banks and the government seem to think its OK to let small businesses like us wait to be paid?

I had to ring the bank and ask for a bit of leeway on our overdraft facility – its embarrassing as it looks like we’re not managing our finances properly when actually we’re acting as a banking facility for the larger businesses. If only we can get them to understand that the only way we can pay ourselves and our staff is if they pay us on time.

Only last week I was chasing a payment that was 2 weeks overdue when I was told that if we didn’t extend our payment terms to 60 days they would not be giving us any more business. How unfair is that? It doesn’t matter how much the government rules that small businesses should be paid within 30 days the big boys continue to call the shots! As it nears the end of each month I worry that there won’t be enough to pay all of the new staff we’ve employed. I don’t think people realise that it costs money to grow a business. I’ve come to realise that the term speculate to accumulate doesn’t always relate to buying new clothes to attract a new partner!

So why have you just agreed to invest in our new software development project I hear you say? Well where would we be without a little bit of excitement in our lives. This living on the edge is addictive ……… saying that I can’t forget the little blip I had a couple of months ago which led me to think that I was maybe suffering from anxiety.

But as I haven’t felt like it since I’m sure it must have been a one off. No point worrying about it as there’s loads I want to do and don’t want miss out on all of the opportunities that seem to be coming our way. Problem is I see opportunities absolutely everywhere. When does that stop? When do you arrive at opportunity overload central?

People who aren’t in business themselves often think its all about the money – well that couldn’t be further from the truth. In fact I was making more money for myself when I was working for someone else . No, owning your own business is much more than that. It’s the feeling that you are in charge of your own destiny and that you are doing something you love. It’s the feeling of freedom that comes with being able to make your own decisions (not all of them sensible ones to be fair) and it’s the adrenaline rush that comes from getting things right and having others listen and follow you. It’s the best feeling in the world – I thoroughly recommend it! Why not try it for yourself?

Me x

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BREXIT As Brexit draw ever closer we look at wether your business is ready for Brexit

The UK is due to leave the EU at 23.00 GMT on Friday 29 March, 2019.

This date can be extended if the UK and all EU members agree, but it remains the key milestone and has been put into British Law. In the time leading up to this date, the UK and EU continue to 16 | Think Enterprise

negotiate the new terms of their relationship.

affect trade and in turn, how will Brexit affect your business?

If agreed, there will be a transition period until at least December 2020 for companies to implement the changes.

In broad terms, and outside of niche industries such as farming or medical research, the following areas of business will likely have to be examined and potentially revised once the UK leaves the EU, largely because the UK will

So one of the main questions when it comes to Brexit is how does it

The UK is currently due to leave the EU at 23.00 GMT on Friday 29 March, 2019, are you prepared?

no longer recognise institutions that oversee these areas, or will no longer be a part of the EU free trade area.

How long will it take for my business to adapt?

It’s currently not possible to say but according to the YouGov survey, businesses in the UK reported that they anticipated spending an average of 15 months preparing, while countries in the EU reported an ideal period would be nine months.

Although It’s likely much of this adaptation for businesses will take place in the transition period across the 2019 and 2020.

My business is based in the UK and only has UK customers. Will I be affected by Brexit?

There are virtually no businesses in the UK that won’t affected by Brexit.

The question is one of degree and all businesses should examine their processes. While Brexit also presents many business opportunities, it’s likely Brexit will affect businesses in many subtle ways that will take some forethought to plan for.

For example, you might be a car maintenance business serving only UK customers, but the replacement parts you require might not be manufactured in the UK, so you may need to source new suppliers to avoid possible delays and extra costs involved with potential customs duties, or plan these delays and fees into your existing procedures.

How will Brexit affect businesses? Final thoughts There’s no doubt that preparing a business for Brexit continues to be difficult due to the current uncertainty. In all likelihood, this situation isn’t likely to change until the transition period ends in December 2020 (assuming a soft Brexit occurs).

However, there’s a surprising amount of information available to help you prepare.

Making good use of it can mean the difference between being ready for Brexit and being left behind.

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The Passport to Enterprise and Employment range of qualifications support individuals through the development aof the knowledge and skills realating to personal enterprise development and how this can support in playing a part in the community and the wider society.

3 KEY AREAS PERSONAL AND SOCIAL DEVELOPMENT EMPLOYABILITY KNOW HOW SELF EMPLOYMENT ESSENTIALS It also supports individuals to explore either how to search for sustainable employment through the development of the knowledge and skills to be a productive member of staff or to explore whether self-employment is a valid option as a career pathway and what would be involved in taking this forward.

Whether supporting learners develop their personal and social needs, helping an individual find sustainable employment or supporting the next generation of budding entrepreneurs, the Passport to Enterprise and Employment qualifications offer a fully flexible solution to meet all your needs.

CLICK HERE TO LEARN MORE & how to become an academy

All learners receive complimentary membership of IOEE upon completing their qualification.

IOEE membership provides access to a wealth of enterprise knowledge and support including access to: • • • • •

The IOEE virtual enterprise campus A range of online tools, resources and webinars Our monthly publication ‘Think Enterprise’ Mentor support Answers to enterprise questions from other members and IOEE resident experts.

JOIN THE IOEE GET ACCESS TO E-LE GROW YOUR BUSINE FIND A MENTOR. SHOW OFF YOUR ENT SEARCH IOEE MEMBERSHIP 20 | Think Enterprise

EARNING COURSES. ESS.

TERPRISE ABILITY. Think Enterprise | 21

e-Learning is now 50% off! Click here for more information

Our innovative e-Learning course is now online!

For those unable to host an Apprenticemakers workshop we’ve put together a fantastic new e-learning course, which will give you everything you need to become a successful mentor to apprentices within your business.

The Support Your Apprentices Need This e-learning module provides an introduction to mentoring for those taking on a mentoring role to support apprentices. It is interactive and thoughtprovoking and develops an individual’s skills and abilities in order to become a successful apprentice mentor. The workshop also supports individuals looking to develop their wider people management skills.

We have developed a module containing simple, step-by-step bite-sized lessons that your learners can access at their convenience.

Individuals can purchase this course now and get instant access. You’ll also get an Apprenticemakers Certificate of Completion and one years free Studying Membership of the IOEE

As used by:

E R I F P U IT New National Apprenticeship Campaign A new national apprenticeship campaign is now live: ‘Fire It Up’ will help raise awareness of the huge variety of apprenticeship options available for people of all ages and backgrounds and the positive impact they can have for apprentices and employers.

The new campaign includes national TV and social media adverts, and a new website which you can find here: https://www.apprenticeships. gov.uk/ The site provides helpful advice and information as well as access to thousands of apprenticeship opportunities across the country.

The toolkit and campaign materials will enable you to share and

promote the campaign across your social channels and with your own networks.

It’s been asked that employers post live and future apprenticeship vacancies on: https://www. findapprenticeship.service.gov.uk/ apprenticeshipsearch The campaign will direct traffic to look at live apprenticeships vacancies to stimulate interest and encourage applications If you have Apprentices or are looking to take on an Apprentice then Apprenticemakers offer both a workshop and online course to ensure you are prepared for taking on Apprentices and having the ability to mentor them successfully.

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QUALITY ASSURANCE FIT FOR THE FUTURE

We’re paving the way with new quality assurance standards for our IOEE Academies!

With the ever changing nature of delivery and quality assurance of vocational training, the workplaces we operate within and the changes in the regulatory environment for qualifications, it is important that we continue to build and review the robot future proof system.

As well as maintaining the confidence in the high quality education provisions offered by our centre network.

Over the previous years organisations delivering qualifications have altered how they interact with learners and their Awarding Organisations. This includes those who we work with within the SFEDI Awards delivery network and our systems should adapt to reflect these changes and new ways of working.

The best practise report helps you to share all of the good practise that has taken places across the UK in the delivery of SFEDI Awards qualifications over a 6-month period.

The guide will help you to provide: • An overview of performance of the centre network during the latest round of monitoring activities • Areas of best practise demonstrated by our centres • Common areas for improvement with suggested solutions • Other recommendations to help improve delivery

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THINK ENTERPRISE January Edition Vol. 26

CONTAC T US 53 Coniscliffe Road Darlington DL3 7EH 0845 467 4928 newsletter@ioee.uk ioee.uk

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