IoD Suffolk Summer 2012

IoD Summer 2012 issue_Layout 1 28/05/2012 14:14 Page c1

suffolk SUMMER 2012 | www.iod-suffolk.co.uk

Innovation and business

IoD Summer 2012 issue_Layout 1 28/05/2012 14:14 Page c2

IoD Summer 2012 issue_Layout 1 28/05/2012 15:07 Page 1

CONTENTS

Welcome. Summer has arrived and there’s lots to celebrate, in spite of turbulent times. The economic forecasts for our region remain strong and there’s no shortage of opportunities, whether it’s in renewable energy, ICT or new approaches to farming.

Innovation is our theme for this edition of the magazine, as we explore ways in which Suffolk businesses are taking advantage of those opportunities. We find out how to transform bright ideas into commercial products; we talk to the entrepreneur who’s brought beautiful shoes to Bury; and we raise our glasses to the Milsom family as they celebrate 60 years of excellence in the hotels and restaurants business.

Have a great summer!

Email us at IoD-feedback@tilstonphillips.com or write to us at the address below. Jane Chittenden – Editor

4 CBP0004792805124132

Published by: Tilston Phillips Magazines Limited 141 Norwich Road Ipswich IP1 2PP enquiries@tilstonphillips.com www.tilstonphillips.com Designed by: Alan Brannan Design www.alanbrannandesign.co.uk

11

Printed by: Healeys Print Group www.healeys-printers.co.uk

All rights reserved. Reproduction, in part or in whole, without the prior consent of the publisher is strictly prohibited. The content of this magazine is based on the best knowledge and information available at the time of publication. All times, prices and details of events were correct at time of going to press. The views expressed by the contributors are not necessarily those of the publishers, proprietors, the Institute of Directors or others associated with this production.

19

Contents

1

From the Chair

3

IoD Conference 2012

4

IoD Events

6

Across the region

9

Company Profile – Milsoms

11

Corporate News

12

Business Strategy and IoD News

16

Protecting the Director

18

Innovation and business

19

Business Profile – Ryan Insurance

27

Investment

28

Suffolk women in business

31

Leisure

33

Business books

34

Culture

35

Member profile – Dave Norval

36

© Tilston Phillips Magazines Limited 2012

IoD suffolk | summer 2012 | 1

IoD Summer 2012 issue_Layout 1 28/05/2012 14:14 Page 2

Commitment that brings certainty to your business 01473 346046 www.poundgates.com Pound Gates St Vincent House, 1 Cutler Street, Ipswich, Suffolk, IP1 1UQ Pound Gates & Co Ltd, trading as Pound Gates, is authorised and regulated by the Financial Services Authority, and is an ISO and Investor in People accredited company.

IoD Summer 2012 issue_Layout 1 28/05/2012 14:14 Page 3

WELCOME

New members to Suffolk branch Andrew Barnetson CPI Jeremy Bradley Kettle Foods Ltd Kevin John Fitzgerald f-star GmbH Michael James Haggerty Left Field Ltd Melanie Harvey Virtual PA Services Camelia Ion-Byrne Optimal Payments UK Ltd Kem Masinbo-Amobi KMA Solicitors Jon Shooter Glazing Vision Ltd Nick Webster Nine Telecom Group Ltd Simon Wetherell Arcus FM Ltd

IoD Suffolk membership benefits • • • • • •

IoD Travel Services IoD Car Rental IoD Director’s Liability Insurance IoD Professional Indemnity Insurance IoD Home and Contents Insurance IoD Health Plans For a complete list of the current affinity member benefits, please see www.iod.com/speciallynegotiated To find out more about joining IoD Suffolk branch please contact: Caroline Kearney Suffolk Branch Administrator 07917 699 498 caroline@iod-suffolk.co.uk Institute of Directors Suffolk Branch 25 Wilding Drive, Grange Farm Kesgrave, Ipswich IP5 2AE www.iod-suffolk.co.uk Follow @SuffolkIoD

From the Chair As I write this column we are once again in the middle of a Eurozone crisis. The difference perhaps with this one is that it seems we are reaching the end game.

With the Greeks unable to form a Government following their General Election, the likelihood is that a second election will bring in a new Government clearly opposed to the Euro bail out package. The consequences of this are hard to predict as the possibility of Greece exiting the Euro and defaulting seem high. For Greece both of these events would create at least in the short term economic pain which is hard to visualise. For the rest of the Eurozone the consequences are uncertain but could well include other countries facing a similar future. As we have seen in Greece and France the general population is not convinced of the need for austerity to the level we are now seeing.

The impact on the UK is perhaps harder to predict. In the short term we are seeing a boost in value of sterling which by reducing the cost of imports will bear down on inflationary pressures. However by increasing the price of exports it will weaken the prospect of an export led recovery. The UK economy is certainly weak and my belief is that the Prime Minister needs to reassert his

authority so that when the inevitable Greek collapse happens we have a strong Government able to take decisive action.

Here in Suffolk my feel is that generally we are out performing the national economy.

Certainly in my own business we have experienced record demand for mortgage lending. We shouldn’t underestimate the importance of a recovery in the housing market to generate economic growth.

As for the IoD we are looking forward with anticipation to the Conference on 20 June.

We have a fantastic line up of speakers and a wonderful venue at Woodhall Manor.

All we need is a little sunshine to ensure a fantastic day.

Finally, I will be stepping down as Chairman of IoD Suffolk at the end of the year and with the help of the committee have begun the process of appointing my successor.

Paul Winter 16th May 2012 IoD suffolk | summer 2012 | 3

IoD Summer 2012 issue_Layout 1 28/05/2012 14:14 Page 4

IOD CONFERENCE

Annual Conference | 20 JUNE 2012 | Woodhall Manor | 9.30am – 4.30pm

BELIEVE... DEVELOP... ACHIEVE There’s still some places available (but please hurry and book) for IoD Suffolk’s annual conference on Wednesday 20th June. This will be a fascinating day with top speakers and an array of business topics to give you fresh ideas, new insights and an opportunity to learn something new.

You don’t have to be an IoD member to book or attend – everyone is welcome. There will be great networking and everyone should depart feeling fired up.

BOOK NOW IoD member tickets are £95.00 (ex VAT) whilst non-member tickets are £142.50 (ex VAT).

To book your place (and confirm your syndicate choice) please contact Caroline Kearney, IoD Suffolk Branch Administrator.

Email: caroline@iod-suffolk.co.uk Tel: 07917 699 498.

At Woodhall Manor to launch the event publicity were (left to right) Richard Jackson (Mancroft International), Paul Winter (Chairman, IoD Suffolk), Robert Leggett (Ensors), Jo McKenzie (Barker Gotelee), Jane Bowen (Corporate Training Consultant) and Simon Quantrill (Quantrills).

For the full conference programme and details see www.iod-suffolk.co.uk

Keynote speakers

John McCarthy CBE will tell his incredible survival story and the techniques he learnt for overcoming self-doubt and despair as he endured 1,943 days in squalid captivity at the hands of terrorist kidnappers in the Lebanon.

An acclaimed speaker he resonates with business subjects such as motivation, leadership and communication.

4 | IoD suffolk | summer 2012

Stephen Drew, Senior Vice-Principal of Passmores Academy in Harlow, will give an insight to his steely determination and belief that adults should do everything possible to recognise young people’s potential, a passion which brought him into the limelight in Channel 4’s Educating Essex.

Laura Kuenssberg, Business Editor for ITV News (and former Chief Political Editor for the BBC) won acclaim for her coverage of the 2010 General Election and covered Barack Obama’s Presidential campaign. She’ll give insights into the latest business stories hitting the headlines.

IoD Summer 2012 issue_Layout 1 28/05/2012 14:14 Page 5

Syndicate sessions Delegates will be able to choose one syndicate session from each group.

KNOWLEDGE AND SKILLS

Brand management through law

Get Linkedin without being a twit or losing face

Led by Jo McKenzie, Litigator and Intellectual Property Lawyer at Barker Gotelee, this session will give an insight into which areas of the law are important in protecting your brand; what to be aware of and how to manage a dispute.

Led by Simon Quantrill, Managing Partner, Quantrills, this master-class will inform you about how to protect your business from social media misuse, answering key questions such as what are the risks; what can go wrong and who is legally liable?

Walking the talk – how to manage change and build a culture of success

Practical tax planning for businesses during difficult times

Kimberley Williams, Managing Director, Williams-Wroe management consultants, will show how change is crucial for growth and innovation in every business; this master class offers guidance on how to design, implement and embed change initiatives which can transform your business.

Robert Leggett, corporate tax partner, Ensors, will use this syndicate session to look at how you can manage your workforce without it costing your business a fortune; what costly tax pitfalls you should avoid and why splitting up your company might help.

MINDSET AND ATTITUDE

The mindset of great achievement

What a feeling – a team in top flight!

Led by Richard Jackson, Partner, Mancroft International, this thought provoking session looks at why at least 80% of our success is the result of our mindset, our attitudes – the way we think.

Jane Bowen, Corporate Training Consultant will look at the motivators and drivers which make a team really work well together and how to get that desire to succeed and achieve more.

The leadership skills for a winning team

Creativity in action!

Stephen Unwin, Senior Business Coach, will present leadership techniques and tools to help you communicate effectively with your team, together with proven principles to ensure that you create the right environment and disciplines to get your team performing at their very best.

Led by David Hall, The Ideas Centre, this highly interactive and energetic session will introduce and use techniques to explore the underlying principles behind creativity.

David has a passion for creativity and innovation, and a pursuit of the perfect culture has provided a common thread throughout his career. He won an E-on Award for ‘UK’s Most Energetic Boss’! in 2007 when chief executive of HFL.

Thank you to our Annual Conference sponsors

IoD suffolk | summer 2012 | 5

IoD Summer 2012 issue_Layout 1 28/05/2012 14:14 Page 6

IOD EVENTS

Winning when you’re winning

Question Time Evening

Guest speaker Steve Nevey

In association with

In association with

WEDNESDAY 18 JULY 2012 WEDNESDAY 11 JULY 2012 7.30am – 9.30am Sir Bobby Robson Suite Ipswich Town Football Club IoD members £27.50 (ex VAT) Non-members £41.25 (ex VAT)

6.30pm – 10.00pm The Council Chamber, Endeavour House IoD members £35 (ex VAT) Non-members £52.50 (ex VAT) Come and join us for a very sociable evening where we’ll be discussing three major topics and also finding time between debates for drinks, good food and a glass of wine.

The evening will be hosted by IoD Suffolk Chairman Paul Winter and starts at 6.30pm with reception drinks and canapés. In between the sessions there will be a buffet dinner, wine, dessert and coffee.

‘Are today’s students ill-equipped for work in the real world?’

This is a current hot topic of discussion and there’ll be representatives from both sides of the argument who’ll present their cases and stimulate debate.

‘Tesco law – would you buy legal advice from a supermarket?’

This will be a chance to discuss the role of big consumer brands entering the world of legal services following a change in the law.

Change management consultant Kimberley Williams will be one of the speakers.

Guest speaker William Kendall

WEDNESDAY 19 SEPTEMBER 2012 7.30am – 9.30am Hintlesham Hall IoD members £27.50 (ex VAT) Non-members £41.25 (ex VAT) William Kendall is perhaps best known for the New Covent Garden Soup Company which he built up and sold to a public company. He and several colleagues then bought the embryonic Green & Black’s from its founder and grew it to an international brand which they sold to Cadburys in 2005.

William is advisor to or director of many organisations, both public and private, including Adnams, Notcutts and listed investment trust Keystone. He lives in Suffolk and farms organically and conventionally.

Steve Nevey has spent the last 22 years in the high-octane world of Formula One motor racing, working with Footwork Arrows, Stewart Grand Prix, Jaguar Racing and, until very recently, double-world champions Red Bull Racing. He gave a fascinating talk at the IoD 2011 conference and is back by popular demand.

Steve is passionate about Formula 1 and, in particular, the intense technology challenges that underpin it and insists that it is very representative of the broader environment of product design and manufacture.

Investing in Innovation and Brands

MORE DIARY DATES 18 OCTOBER Annual Dinner 21 NOVEMBER Breakfast event both events n association with Marshall Jaguar, Ipswich and Cambridge

He is able to draw some interesting comparisons from the lessons that can be learned from honing a 2.4 second pit stop, to the active transfer of core competence from one area of the business to another.

What’s the future for our town centres?

One side of this debate topic will be presented by Paul Clement, chief executive, Ipswich Central, the delivery company behind the Business Improvement District (BID) project, which recently renewed for a second five year term following overwhelming support from town centre traders.

Steve will keep you enthralled and entertained with this thought provoking presentation.

Please join us for what promises to be a highly enjoyable evening.

BOOK YOUR EVENTS To book any event please contact Caroline Kearney, Suffolk Branch Administrator.

Telephone: 07917 699498 Email: caroline@iod-suffolk.co.uk or visit: www.iod-suffolk.co.uk

2012 programme is kindly sponsored by:

6 | IoD suffolk | summer 2012

IoD Summer 2012 issue_Layout 1 28/05/2012 14:14 Page 7

IoD suffolk | summer 2012 | 7

IoD Summer 2012 issue_Layout 1 28/05/2012 14:14 Page 8

SOMETHING SOUND FAMILIAR? Ever get the feeling you’ve heard something somewhere before?

Without legal protection, you could be exposed to the risk of trade mark infringement. In a crowded marketplace, it’s vital to shield yourself from imitators and protect your brand and hard-earned reputation.

Our friendly expertise and legal knowledge of trade marks and patents could be the cheapest insurance you ever take out. But don’t leave it too long.

01473 660 600 www.dummett.com

Creativity, stimulation, provocation, sharing...

Providing a forum for regular practice of creativity techniques and facilitation, the Ideas Centre also provides a range of provocative and energising seminars to motivate and excite your change agents.

The change process inevitably drains the energy levels of even the most passionate individuals, so the Ideas Centre provides a resource to re-charge the batteries, to provide new ideas and to provide a source for innovation and transformation. This is not about continuous improvement – but more about discontinuous change, introducing step-function change into a business by challenging conventional thinking.

Meetings are held on a monthly basis in a range of locations. Attendees are urged to be selfish – ensuring that sessions deliver benefit for their own organisations.

Contact Dr David J Hall d.hall@ideascentregroup.com See www.ideascentre.co.uk for further information.

The Ideas Centre Ltd French’s Hill Pond Hall Road Hadleigh Suffolk IP7 5PQ

8 | IoD suffolk | summer 2012

IoD Summer 2012 issue_Layout 1 28/05/2012 14:14 Page 9

ACROSS THE REGION

Work under way at John Lewis site

The scheme’s owner, AquiGen Real Estate Solutions, has already attracted Waitrose and John Lewis at Home as the headline tenants at the Ransomes Way site, home of the former Cranes factory.

The layout of the development will help to create a parkland style setting with the 100,000 sq ft John Lewis at Home and Waitrose store scheduled to open later this year.

Outline planning permission has also been granted for a further 60,000 sq ft of non-food retail space and 25 acres of employment (office, industrial and warehousing) land capable of accommodating up to 600,000 sq ft of new buildings.

AquiGen managing director, Paul Isaacs, said: “We are extremely excited to have started the process of bringing this scheme to life. It is going to add a new vibrancy to the region, attracting major retailers, businesses and considerable corporate investment through the creation of around 1,500 jobs.”

Work has begun on Futura Park, one of the most comprehensive regeneration schemes in East Anglia, which will see a new 44-acre business and retail park in Ipswich.

Nigel Keen, director of development at the John Lewis Partnership, said: “It is great to see work under way in a scheme that brings John Lewis and Waitrose shops side-by-side for the first time and, with its significant investment and job creation, represents a real vote of confidence for Ipswich.”

Ensors trainees make their marks Two trainee accountants from Ensors have been recognised for achieving outstanding marks in their professional qualifications.

Adrian Tonge, based at the Bury St Edmunds office, achieved the third-highest mark worldwide for his final five professional exams, qualifying with ACCA (The Association of Chartered Certified Accountants) in December 2011. Adrian joined Ensors in November 2006 having completed a history degree at The University of East Anglia.

Gail Mackie, based at the Ensors Ipswich office, has been recognised for achieving the highest average mark in East Anglia across her last six professional exams for a student in a non ‘big four’ firm. Gail has three exams to sit this year before qualifying. She joined Ensors in August 2008 straight from A-levels, studying for AAT (Association of Accounting Technicians) before moving on to train as a chartered accountant.

Danny Clifford, Ensors managing partner, said: “We are extremely proud of Adrian and Gail. They carry forward a long tradition of high-performing students at Ensors.

Something, I like to think, we can in part attribute to the support and encouragement we give our students.”

IoD suffolk | summer 2012 | 9

IoD Summer 2012 issue_Layout 1 28/05/2012 14:15 Page 10

Selling your business?

With you every step of the way...

Christmas is over, are you dreaming of retiring by selling your business?...

Yes? Then there’s only one place to go. Ensors. The first step in making that dream become a reality...

We talk, we agree, the price is right.

Now you can return to your business happy in the knowledge that the deal is in safe hands...

We at Ensors then put the wheels in motion, using our business knowledge...

We have the experts to identify the right buyers for you, confidentialitybeing key at all stages...

We get lots of interest, they’re queueing up outside the door. We negotiate the best possible deal for you with the assistance of our tax team...

Lawyers are instructed, they cross the t’s and dot the i’s. Nearly there...

Whatever obstacle is put in the way, we’ll drive you through to completion...

No matter what time of day or night, we’ll be there to finalise the deal and your dream becomes reality.

Ensors expertise, excellent friendly service and regional knowledge offer the perfect solution.

Over 100 years of practice can't be wrong.

Call David Scrivener on 01473 220081 or email david.scrivener@ensors.co.uk

Ensors Chartered Accountants Making you more than just a number

CAMBRIDGE HUNTINGDON SAXMUNDHAM BURY ST. EDMUNDS IPSWICH

www.ensors.co.uk

IoD Summer 2012 issue_Layout 1 28/05/2012 14:15 Page 11

COMPANY PROFILE

This year, the Milsom family celebrate 60 years of providing the finest dining and exquisite accommodation in Essex and Suffolk. But that hasn’t put a damper on their sense of fun, Paul Milsom tells Laura Potts.

Marvellously

MILSOMS At any given moment in the last 60 years, guests might have spied Roger Moore unwinding at Le Talbooth, caught Henry Blofeld spinning tales of cricket or glimpsed the founder of East Anglia’s premier hospitality group astride an elephant.

As Paul Milsom, managing director of Milsom Hotels & Restaurants puts it, “We’re in the business of fun.” No kidding.

Hotels have come a long way since Gerald Milsom turned conventional accommodation on its head by appointing each room with its own television and en suite. Dismayed, the local morality brigade presumed the bed-and-bath combination was the mark of something indecent, laughs Paul Milsom, but it was his father’s enterprising efforts that put Milsom Hotels and Restaurants at the forefront of British hospitality. Sixty years on, it’s difficult to match some of Gerald Milsom’s more outrageous stunts – such as staging a dogfight between a Spitfire and a Messerschmitt to mark the 40th anniversary of VE Day – but fun is still clearly at the heart of the Milsom philosophy.

Even with the economy taking a toll on personal spending, the Milsoms’ four hotels and six restaurants in Essex and Suffolk haven’t missed a trick – testament to their excellent food and inviting atmosphere. If the recession of the early 90s posed a challenge, Paul Milsom said, “The reverse is true this

time. Our business is looking fabulous.”

That means catering for as many as four big events a day in the summer, plus running the hotels and restaurants at capacity. Paul Milsom attributes this success to a few main factors: continual investment in aesthetics and service, a strong focus on food, and an active role in the community. It’s a formula that keeps people coming back – up to 70 per cent are repeat customers, Paul Milsom said, and the majority of the 300,000 yearly guests come from a 60-mile radius.

“It’s partly to do with our longevity,” said Paul Milsom, adding that the entry point for buying a hotel today is so prohibitive that few, if any, can attempt it as a family enterprise. “Now, so many hotels are under management and the owner is removed from the cut and thrust of the daily business.

We are so entwined in the area that people almost see us as a community resource.”

Indeed, from its many charity engagements to third generations of families choosing a Milsom venue for weddings and other celebrations, it’s clearly a valued local institution. There is even a Milsom Restaurant cookbook in the works, compiling some of the favourite recipes collected over 60 years.

“Sunday lunch at Le Talbooth is like a club.

There are very few restaurants in the country where customers take such a proprietorial approach,” said Paul Milsom, who, like his

two young sons, grew up in the business.

“It’s nice that so many people have had some of the best times of their lives in our restaurants and hotels.”

With the interior design expertise of Geraldine Milsom, Paul’s wife, the hotels and restaurants maintain a contemporary glamour that dovetails with the strengths of their respective locations, whether near the water or surrounded by lush gardens.

Chefs at each Milsom establishment are urged to make their own mark on the menu, keeping in mind what will appeal to diners rather than what will create buzz in the foodiesphere. This isn’t to suggest the food is tame or typical – multiple awards attest to an inventive approach that also makes the most of local ingredients – but Paul Milsom is adamant that “our customers are not used as guinea pigs.” He and all the chefs meet regularly for tastings before new items make it to the table, something he says is “creatively good for them and has helped the quality and consistency of what we do.”

It’s a long way from Gerald Milsom’s first humble tea room in rations-era 1952, but the basic Milsom principle continues.

“We try not to take ourselves too seriously.

I love it when you hear people laughing and partying, and that’s the reason we’re here,” Paul Milsom said.

IoD suffolk | summer 2012 | 11

IoD Summer 2012 issue_Layout 1 28/05/2012 14:15 Page 12

CORPORATE NEWS

Agency for hire

By Andrew Fleming, Partner – Blocks Solicitors

Now that the dust has begun to settle, following the coming into force of the Agency Workers Regulations last October, it is an appropriate time for hirers to consider the effects which the Regulations have had.

Agency workers are a key element of flexible working practices for many businesses.

The Regulations mean that: • from day one, agency workers are entitled to the same collective facilities and amenities as permanent workers and to receive information on any vacancies arising; and • from the end of week 12, agency workers are entitled to the same basic working and employment conditions as permanent workers.

There are practical difficulties in giving the same conditions as permanent workers, particularly in gauging comparative pay, where bonuses and commission are involved.

Administrators must also calculate agency workers entitlement to holiday and sickness benefits. Where a worker is taken on to cover

a range of responsibilities, the calculation of comparative benefits can become problematic. Furthermore, should these responsibilities change during the agency worker’s time in the business, his or her conditions must be reassessed.

From October this year, many agency workers will be entitled to join a qualifying pension scheme, although, admittedly, in most cases, this will be the agency’s responsibility.

Little wonder then that both agencies and hirers have sought to avoid the obligations of the Regulations by: • Having a ‘managed service contract’ between agency and hirer, where a general service is offered rather than a specific worker.

• Using the services of a limited company which employs the worker.

• Providing a pool of different people from the agency to do the required work.

• Taking on a worker for a maximum of 12 weeks.

• In the case of high worth workers, requiring him or her to sign a compromise agreement.

All these possible solutions need to be carefully considered before implementation.

Employment tribunals are keenly aware of their existence and there are specific anti avoidance provisions in the Regulations.

Potential hirers need to be prudent and should always check the agency’s written terms of engagement.

01473 230033 arf@blockslegal.co.uk

Successful Succession…

In today’s competitive market, many owner-managed businesses are focused on driving profitability and managing cash flow. It is hardly surprising that many owners’ thoughts of how they will one day exit the business are deferred.

This is a great shame, as a well thought through succession plan can ensure the business is passed on smoothly and at a desirable price. It also removes the burden of worry about how this will be achieved, freeing the owners to concentrate on what they do best; run their businesses.

The three main exit options for owner managed businesses are: 1. Sell the business to family members and/or management.

2. Sell the business to a third party.

3. Employ sufficient management to enable the owners to retire and derive a regular income stream from the business profits.

James Lay

Bank lending is not as freely available as it once was, so most deals now include an element of deferred consideration, being money paid over a period of time and not on completion.

In return, owners receive a commercial rate of interest for the unpaid amounts, often at a much higher rate than they would receive from a bank deposit account.

Consider tax implications and arrive at a tax-efficient method of achieving succession, Capital Gains Tax and Inheritance Tax being the key taxes to consider. The current tax regime is relatively forgiving on business sales, and if structured correctly then it is often possible for the sale to be taxed at 10%.

Your corporate finance advisor or accountant will be able to advise you further.

James Lay is a director of Larking Gowen Corporate Finance Limited, working closely with his corporate colleagues in Norfolk, Suffolk and North Essex. For a free, no obligation consultation please email: james.lay@larking-gowen.co.uk or telephone: 01473 833 411.

This article is designed for the information of readers. Whilst every effort is made to ensure accuracy, information contained in this article may not be comprehensive and recipients should not act upon it without seeking professional advice. Larking Gowen is registered to carry out audit work in the UK by the Institute of Chartered Accountants in England & Wales. Authorised and regulated by the Financial Services Authority. ©Larking Gowen.

12 | IoD suffolk | summer 2012

IoD Summer 2012 issue_Layout 1 28/05/2012 14:15 Page 13

ACROSS THE REGION

Watch this White Space...

Ipswich-based creative agency White Space has appointed Rebecca Riley as PR account manager.

She joins Emma Noye, who has headed the company’s PR department since last year, and the pair say they have big plans to establish White Space as the leading creative PR agency in the region.

GT expands its finance team Financial and business advisory firm Grant Thornton has welcomed a new manager to its expanding East of England corporate finance team.

Nehal Patel will work across the offices covering Suffolk, Essex, Norfolk and Cambridgeshire, advising clients on all aspects of corporate finance including mergers, acquisitions, MBOs, succession planning and fundraising.

Rebecca said: “Times are changing and businesses are becoming increasingly savvy about how they should be spending their marketing budgets to achieve the best results.

We don’t want to hide behind marketing or PR jargon, or tie clients into expensive retainers that aren’t flexible enough to accommodate the needs of the modern-day business.

“Instead, we are committed to using our energy and creativity to develop campaigns that produce real, tangible results and benefit businesses.”

Emma added: “There is an incredible amount of ‘lazy’ PR around – which does tend to give the industry a negative perception, and we’re here to completely counteract that with our well-thought-out, well-executed campaigns.”

Rob gets on board at Pound Gates After three years with insurance brokers Pound Gates, Rob Thacker has been appointed as a director.

Before joining Grant Thornton, Nehal worked as a fund accountant for State Street Bank in the City then held a managerial position at a Cambridge-based corporate finance firm for six years. He has a degree in economics and a masters in finance.

He said: “The corporate finance market is buoyant with a strong pipeline of activity both now and in the short to medium term.

I hope to add to the team’s considerable experience in advising clients across the region, as well as create new opportunities in the marketplace.”

Darren Bear, corporate finance partner at Grant Thornton, added: “Our aim is to expand Grant Thornton’s corporate finance presence across the region and help more businesses make the most of the knowledge and expertise we provide as a national and international firm, from a local perspective.

Nehal will play a significant role in helping us achieve this.”

A chartered insurance broker, Rob started as sales manager in 2009 having held leadership roles elsewhere. He completed an MBA in 2004.

Kevin Collins, managing director, said: “Rob has brought a huge amount of energy to Pound Gates and this has delivered results for our business. Making Rob a director allows him to develop further and provides

him with the platform to promote and grow our business. Now we are a chartered insurance broker we need people at Rob’s level to continue to maintain the high standards and our quality agenda.”

Rob said: “The people and the approach here is second to none, so to be core to the organisation makes me very proud.”

IoD suffolk | summer 2012 | 13

IoD Summer 2012 issue_Layout 1 28/05/2012 14:15 Page 14

CORPORATE NEWS

Lovewell Blake opens office in Bury St Edmunds One of the region’s leading accountancy firms, Lovewell Blake has opened a new office in Bury St Edmunds as the latest move in expanding business in Suffolk.

The office on the Hillside Business Park – the firm’s 10th across East Anglia – will be managed by Cathryn Brooker, who is moving from Lovewell Blake’s Thetford office, supported by some of the firm’s partners and specialists.

Cathryn Brooker has worked in accountancy for more than 20 years. She began accountancy training with the London office of BDO Stoy Hayward, qualifying as a chartered certified accountant in 1994 and subsequently also becoming a chartered accountant. She went on to join KPMG, followed by roles in industry, before joining Lovewell Blake in 2001. She has experience

with a wide range of clients including professional firms, motor dealers and foreign-owned UK subsidiaries.

working regularly at Bury St Edmunds.

He has described the new office there as ‘critical to the firm’s expansion plans’.

Jemma Jackson also moves across from the Thetford office. She started her accountancy training there in 2004 and qualified as a chartered certified accountant in 2011.

Partner Brian Floringer – who will be combining roles in Thetford and Bury St Edmunds – has almost 30 years’ experience with Lovewell Blake, qualifying as a chartered accountant in 1992 and becoming a partner in 1999. He specialises in family businesses and is a fellow member of the International Centre for Families in Business.

Tax partner Colin Fish and VAT consultant Liz Hill will be available at the new office on a regular basis.

Three more of the firm’s Thetford personnel – partner David Buller, manager Paul Milton and tax manager Colin Chamberlain – will be combining roles there and at Bury St Edmunds.

Douglas Young, managing partner of Lovewell Blake, heads the firm’s strong agricultural team which already has many clients throughout Suffolk and will be

The firm’s financial planning arm, Lovewell Blake Financial Planning Ltd, has recruited consultant Kevin Farrell, who will be permanently based at the new office, along with Julie Cross, mortgage specialist, who has moved across from Thetford.

Lovewell Blake has already held a number of free seminars in Bury St Edmunds on the Budget, Corporate Planning and Family Business. The next in the series is a VAT/ PAYE Update on Wednesday 20 June.

For more information and to book your place, go to www.lovewellblake.co.uk/ business-briefings Lovewell Blake’s other offices in Suffolk are at Halesworth, Long Melford and Lowestoft.

NEW OFFICE IN BURY ST EDMUNDS First Floor Suite 2 Hillside Business Park IP32 7EA T (01284) 337070

Baker Tilly, a leading national firm with a local Suffolk presence Baker Tilly based in Bury St Edmunds offers the benefits of a national, Top 10, accounting firm with a local Suffolk presence.

Baker Tilly based in Bury St Edmunds is one of Suffolk’s leading professional services firms and possibly Suffolk’s largest firm of Chartered Accountants. We benefit from a national and international network to add to the depth and quality of the advice provided to our clients.

If you want the best of both worlds, a local service with a national and international reputation, please contact Stephen Duffety on 01284 763311 or email stephen.duffety@bakertilly.co.uk Baker Tilly, Abbotsgate House, Hollow Road, Bury St Edmunds, Suffolk IP32 7FA

© 2011 Baker Tilly UK Group LLP, all rights reserved

www.lovewell-blake.co.uk OFFICES: BURY ST EDMUNDS | GREAT YARMOUTH | HALESWORTH LOWESTOFT | NORWICH | THETFORD MARKET DAY OFFICES: AYLSHAM | DISS | LONG MELFORD | NORTH WALSHAM

14 | IoD suffolk | summer 2012

Baker Tilly UK Audit LLP, Baker Tilly Tax and Advisory Services LLP, Baker Tilly Corporate Finance LLP, Baker Tilly Restructuring and Recovery LLP and Baker Tilly Tax and Accounting Limited are not authorised under the Financial Services and Markets Act 2000 but we are able in certain circumstances to offer a limited range of investment services because we are members of the Institute of Chartered Accountants in England and Wales. We can provide these investment services if they are an incidental part of the professional services we have been engaged to provide. Baker Tilly & Co Limited is authorised and regulated by the Financial Services Authority to conduct a range of investment business activities.

IoD Summer 2012 issue_Layout 1 28/05/2012 14:15 Page 15

ACROSS THE REGION

Champagne launch for new cruise To celebrate the launch of a new cruise added to their schedule, Viking Mariners and Milsom Hotels invited guests to join them for cocktails on the luxury Fairline Squadron motor yacht, My Fair Lady.

After a leisurely cruise along the River Orwell, and arrival at the Pier in Harwich, guests were welcomed with a champagne reception, followed by a showcase dinner in the Harbourside Restaurant.

The three-course meal was prepared by head chef Tom Bushell with gourmet fish dishes the flavour of the day. For the return cruise, guests boarded at dusk, enjoying a star-lit, return passage to the evocative night-time atmosphere of the Ipswich Waterfront.

For further details visit www.vikingmariners.co.uk

Golf day marks 20th anniversary After the success of the Ufford Park Open Day on Bank Holiday Monday, when the sun shone and close to 1,000 visitors enjoyed the 20th anniversary activities, the question was would the weather behave for the final celebration – the Corporate Golf Day. Thankfully it was a mostly dry day with 12 teams of four teeing off in what has become an annual event, with an arrival champagne breakfast. This year's competition had a special twist as it was exactly 20 years to the day that Ufford Park opened for business.

The golf was followed by a gala dinner.

Ufford Park chairman Colin Aldous thanked everyone's loyalty over the past 20 years in business and recalled how he had fallen in love with Suffolk as a small child travelling from Halesworth to Chelmsford by train to see his grandparents.

IoD suffolk | summer 2012 | 15

IoD Summer 2012 issue_Layout 1 28/05/2012 14:15 Page 16

BUSINESS STRATEGY AND IOD NEWS

Keep calm and collaborate

By Kimberley Williams, Managing Director – Williams Wroe Management Consultants

Organisation wide collaboration is imperative for successful strategy execution in any business, and yet, professional service organisations on which the rest of the business community rely for legal, financial, and business advice, often encourage behaviours that undermine internal co operation.

The difficulty is that lawyers, accountants, bankers, and to some extent management consultants, are not naturally collaborative.

Professionals define themselves in terms of their technical expertise; they are ‘hard wired’ to work independently and are motivated by individual achievement, whilst remuneration reward schemes offer little incentive to share, co-operate, or collaborate. So, despite corporate rhetoric of team work, unwritten rules and accepted behaviours encourage ‘star players’ and the reality of internal competition which is counter-productive, results in underperformance.

How can professional service organisations overcome this issue, and in doing so, improve their efficiency at delivering services for their clients?

To cultivate a collaborative culture, organisations must seek to recruit cooperative people and discourage highly competitive individuals. This will be counter intuitive for many professional service organisations, where autonomy and a highly competitive nature have traditionally

been desirable qualities in candidates.

Co-operation and the desire to work collaboratively with others to achieve a common aim must become a core competency, of equal importance to technical expertise, talent, drive and ambition.

Few of us are wholly co operative or wholly competitive, and adjust our natural tendencies depending on the environment we are in, so it is essential for organisations to emphasise to employees the value of collaboration at an early stage, and to regularly reinforce this message by encouraging collaborative behaviour across the whole of the organisation.

Co-operation can be promoted by mentoring, where senior team members volunteer to support their less experienced colleagues, and are skilled at both listening and imparting guidance and knowledge, sending out a strong message that the development and active support of others is as valued as technical capability and fee earning capacity. However, co operation can be quickly undermined by performance

management processes which only recognise and reward individual accomplishments.

A system that rewards those who adopt a co-operative approach, over and above individual achievements will reinforce a culture of collaboration, leading to improved performance.

Meanwhile, increasing pressure from clients to provide more efficient and cost effective solutions to their legal and financial problems has created challenges and new opportunities for the professions. Strategic alliances are emerging between natural competitors, who are working collaboratively to pursue joint purchasing arrangements and achieve cost efficiencies. More importantly, relationships between professional service organisations are strengthened such that collaboration is emerging as a means of delivering added value services to clients and creating a stronger business community.

44(0)1394 277066 kwilliams@williams-wroe.com www.williams-wroe.com

New member elected to Suffolk IoD committee Jane Bowen has been elected onto the committee of IoD Suffolk.

Jane, from Felixstowe, set up her corporate training consultancy 11 years ago and she has used her musical and theatrical skills to help her small business flourish.

16 | IoD suffolk | summer 2012

She is a member of Ipswich Operatic Society and part of her portfolio of bespoke training is a unique theatre team building day. Her father is David Lowe, who managed Ipswich’s Regent Theatre for thirty years and Jane’s theatrical roots have led to a creative flair which she brings into her training sessions.

Jane is particularly good at improving interpersonal skills and trouble-shooting any inter-staff relationship issues which as a boss are difficult to tackle. As well as bespoke courses for groups of staff and one-to-one sessions with individuals, she runs open courses at Basepoint Business Centre Ipswich.

On her appointment, Jane said: “I like to be part of something local and the Institute of Directors in Suffolk offers something a bit different from other network groups. I was delighted to be elected to the committee.”

Paul Winter, Chairman of Suffolk IoD, added: “Jane’s enthusiasm and her experience of running her small business will be a great asset to Suffolk IoD.” See www.tailored-training.com

IoD Summer 2012 issue_Layout 1 28/05/2012 14:16 Page 17

A specialist Intellectual Property company that moves with the times At ip21 we pride ourselves on offering a full range of IP services, as well as IP advice and support tailored to the commercial benefit of our clients.

O Patents O Trademarks O Licensing O Design Rights O Litigation O Portfolio Management O IP Valuation O IP Budgeting

Tel: +44 (0) 1603 457008 Norwich Tel: +44 (0) 2033 271310 London www.ip21.co.uk

IoD Summer 2012 issue_Layout 1 28/05/2012 14:16 Page 18

PROTECTING THE DIRECTOR

PROTECTION AND EXPLOITATION OF INTELLECTUAL PROPERTY RIGHTS Valuable Intellectual Property Rights (IPR) exist in practically all companies and other corporate vehicles. It is essential that once a company acquires these rights, which often follows significant investment, they are properly protected and exploited to ensure they are an asset.

The Government made it clear through the recent Budget that it promotes the view that the UK should be seen as a world leader in IPR. Therefore, the exploitation and protection of IPR is becoming increasingly important both in the UK and in global markets. To this end, it has put forward proposals for potential tax benefits on profits attributable to particular types of intellectual property. For example, the introduction of the patent box regime that may have advantages for companies that develop patents.

If the value of IPR is to be fully exploited it is important that companies ensure that issues of ownership are recognised and recorded so that potential risks or challenges to IPR ownership are minimised.

Undisputed ownership of IPR, in addition to the unencumbered exploitation of any rights, will greatly assist in any action that may be necessary should those rights be infringed by a third party.

As e-commerce and web generated profits become increasingly important to all types of businesses the protection of IPR is becoming paramount. If a company intends to use its IPR to help maximise profits, the ownership and management of that IPR is essential.

If you are in any doubt about the ownership or registration of your intellectual property rights – for example, whether rights created and used by your company belong to you – or you would like to consider registering or regularising your current IPR, Birkett Long LLP would be pleased to assist.

Ownership should be recorded at the earliest possible stage and, if necessary, the appropriate documents and/or confidentiality agreements should be put in place. This is particularly important where work for the company is commissioned rather than carried out ‘in house’, especially if the use of this work is then subject to licence agreements. This also applies to internet domain names, which are essential to most businesses.

Only when the ownership of rights has been established and regularised can those rights be exploited for the benefit of the company.

Depending on the corporate structure, it may be worth considering whether a separate company should own the intellectual property and licence it to the company using the IPR, for obvious corporate advantages.

18 | IoD suffolk | summer 2012

Contact Ian Dawes at Birkett Long LLP 01206 217314 ian.dawes@birkettlong.co.uk

IoD Summer 2012 issue_Layout 1 28/05/2012 14:16 Page 19

The OrbisEnergy Building

Innovation and business Innovation is increasingly important to our region’s economy, but how do you turn a bright idea into a commercial product? It’s the core business of Lowestoft company 4NRg; Business Development Director Mark Aspinall tells Jane Chittenden how it’s done.

We’re in 4NRg’s office at OrbisEnergy, the innovation and incubation centre for the offshore renewable industry. This is no ordinary office. The whole of one wall is an enormous window of curved glass, looking out across the North Sea (the building is perched just above the sea wall).

The remaining walls are covered with maps and working drawings; there are detailed models; there are stacks of folders and reference books. There’s a buzz of activity.

Getting a bright idea to market is a lot of hard work, Mark says. “It sounds like it’s ‘inventorish’, but coming up with the idea is the easy bit, in some respects. You’ve got to sell the idea to potential funders and it’s their money, so they’re not going to part with it lightly. You have to make a good business case.”

THE INSPIRATION FOR THE SCOUR PREVENTION SYSTEM We’re looking at a model of an innovative scour prevention system, winner of last year’s EEEGR (East of England Energy Group)

Innovation Award. It’s a mat made up of what appears to be interlocking rubber tyres, with a light covering of sand. It looks deceptively simple, but is in fact a very clever idea.

Offshore wind turbines have to be protected from scour: the action caused by the water accelerating round the turbine and digging holes, sometimes several metres deep, around the foundation base. The conventional way of doing this is to pile rocks around the base of the wind turbine; the problem is that the protective rocks are scoured away too, within a short period of time – and it’s expensive to replace them. But there’s another way to tackle scour.

“A colleague of ours, Bob Durrant, noticed that while he was diving, the discarded tyres that were lying on the seabed didn’t move, didn’t sink, didn’t get covered – they just stayed there day after day. The clever bit was that whereas most people would have said: “Oh, that’s just a bit of rubbish,” and moved on, he said: “Oh, that’s interesting; I wonder why that happens.” And that gave him the idea of creating protective mats from recycled tyres.”

IoD suffolk | summer 2012 | 19

IoD Summer 2012 issue_Layout 1 28/05/2012 14:16 Page 20

INNOVATION AND BUSINESS

20 | IoD suffolk | summer 2012

IoD Summer 2012 issue_Layout 1 28/05/2012 14:16 Page 21

FROM AN IDEA TO A BUSINESS PLAN But Bob wasn’t sure how to develop the idea.

Mark explains that this is one of the biggest barriers to innovation: “The problem is the transition. Lots of people have good ideas, particularly those that are based on their experience. Bob’s idea for the mats came out of his experience as a commercial diver. But he didn’t know how to commercialise it, and that’s the disconnect. I’ve met lots of engineers who’ve literally got a bookful of ideas, but they haven’t commercialised any of them because they don’t know how to translate the thought into a deed. They don’t know how to raise funds; or how to write a business plan. That’s why Bob brought his idea to us, to take it further.”

They created a new company: Scour Prevention Systems Ltd (SPS) and developed the concept from an engineering perspective and helped to get the patent filed. Getting the patent was the first step in creating some value for the business, which would make the project attractive to investors.

“That was quite a lot of work. We were very lucky in that we got some funding from Renewables East – only a small amount, but it made the impossible possible. On the back of that, we clearly had a good idea. We didn’t have a patent granted, but we had a patent filed. Over the following twelve to fifteen months we developed a business plan and we did a lot of research. One of our research students looked at the size of the market for wind turbines globally, out of which we were able to make an estimate for how big the market might be for our mats, which then allowed us to be very robust in terms of the business opportunity.”

The installation cost is about the same, whether you’re using rocks or mats for scour prevention. But the mats will last twenty years and the rocks will disappear very quickly; you have to replace them every four or five years. SPS’s estimate was that the energy companies could save a million pounds per turbine over the life of the wind farm, which is a huge saving in cost. A wind farm that is currently being built off the coast of Wales has two hundred and fifty wind turbines – that’s a quarter of a billion pounds in savings.

“We proved that potentially there was quite a big market for this scour prevention system.

We were looking specifically at shallow seas, with fast-moving tides and sandy bottoms, because that’s where you’re going to find that scour is one of the biggest problems.”And the tyres aren’t going to landfill; they are being recycled into something useful. From an environmental point of view, the Environment Agency loves them. There’s a lot of research to prove that they’re very stable; they don’t harm the environment.

Model of the Tidal Harvester offshore

IoD suffolk | summer 2012 | 21

IoD Summer 2012 issue_Layout 1 28/05/2012 14:16 Page 22

INNOVATION AND BUSINESS

MAKING THE CASE FOR ANGEL INVESTMENT

THE TIDAL HARVESTER: TIDAL ENERGY IN SHALLOW WATERS

STARTING WITH VERSION 1 AND GOING ON FROM THERE

With that market evidence and the business plan they went out to look for money. They applied to EEDA first and got a grant; on the back of that, they obtained Low Carbon Innovation funding. “That enabled us to go to angels and say: “Look, we’ve had two lots of due diligence. They both like it; are you willing to invest?” We got twenty-three expressions of interest out of thirty, which is amazing, and out of those we picked two.

And that finished our round of funding; but the interest was so great that I was able to ask the Low Carbon Innovation Fund to withdraw and just let the angels put their money in instead.”

They followed a similar R&D process with their Tidal Harvester, which won this year’s EEEGR Low Carbon Innovation award. The bright idea here was: “How could we make better use of the tidal energy in our local waters?”

Mark explains the company philosophy of incremental development: “A lot of clever ideas have come out of looking for the best, whatever that may be. We came at it quite deliberately from the other end and said: “How can we deliver a solution that the industry wants?” That’s how we’ve ended up with the device that we’ve got: something that fills a need and is profitable. We’ll close a round of funding this month, and that will fund the next twelve months of development.

We’ll call it Version 1. It won’t necessarily be the perfect solution, but it will be commercially viable, and that’s what we’ve aimed for. Rather than trying to get the best theoretical device possible, we want something that is clearly profitable, and then sell that. Then we can use the money raised from that to develop better devices, more efficient devices, and become commercial as quickly as we can.

At the moment they are doing a trial with E.ON at Scroby Sands off Yarmouth, and hope to have that finished by September of this year. After that, they plan to start commercial installation.

Most tidal energy devices developed today have been designed for deep water and fast flows, like the waters around the islands of North Scotland. These are axial devices, like underwater turbines, and they are very successful in those environments. However, most of the investment has gone in the North Sea; it’s shallow and it doesn’t run quite so fast, so you need a different kind of solution.

4NRg came up with something very different: a surface-mounted device, so it floats, and it will run in about seven metres of water. And most importantly, they can be arrayed out between the wind turbines. The energy companies have already spent billions of pounds on cables and sub-stations, on vessels, on skilling people up, on on-shore maintenance operations and sites, so the infrastructure is already there. The Tidal Harvester could generate maybe half as much energy again as the wind does, but at a fraction of the cost, because the infrastructure is in place.

“We’re not theorists; we’re very much about engineering; and if anything’s going to be about three years away from market, it’s too far away for us. It’s too much about invention, if you like, or research, rather than about innovation, which to us is about seeing a need and filling it.”

Profile view of The Tidal Harvester

22 | IoD suffolk | summer 2012

IoD Summer 2012 issue_Layout 1 28/05/2012 14:16 Page 23

WHERE TO FIND ADVICE AND SUPPORT FOR INNOVATION Regional initiatives The New Anglia Local Enterprise Partnership (LEP) aims to clear the way for businesses to develop and innovate, bringing prosperity and global recognition to our key business sectors: www.newanglia.co.uk The East of England Energy Group (EEEGR) is the industry association for energy in the East of England. Its annual energy innovation awards reveal pioneering ideas and groundbreaking technology which can benefit the energy industry: www.eeegr.com OrbisEnergy is a specialist innovation and incubation centre for the offshore renewable supply industry,for businesses keen to capture the economic benefits from offshore wind, wave and tidal technologies: www.orbisenergy.net

Artist’s impression of the tidal barrier for The Broads Authority

THE TIDAL BARRIER: A PROJECT FOR THE BROADS AUTHORITY

BEING PART OF THE ORBISENERGY COMMUNITY

4NRg has taken the Tidal Harvester concept further, adapting the technology that they’ve developed for offshore and reinterpreting it to be used elsewhere. The idea is simply that most of the time you get energy, because most of the time the river is flowing. But in periods when you’re likely to get huge tidal surges – which are happening more and more frequently with climate change – you can shut all the gates and keep the tide out.

The tidal barrier is work that the company did for the Broads Authority about eighteen months ago, and they’ve just won a small contract from them to develop this further.

We’ve been touring OrbisEnergy as we talk, looking down at the seawall directly below; the whole building is full of the North Sea light, although it’s a grey day. Does it make a difference to be in a building that’s visually arresting? And how important is it to be located here in the OrbisEnergy community, rather than in one of the leading universities?

“The estimates are that if you get this right, at Yarmouth, you can protect the whole of the Broads region for probably another hundred years – at which point, you’re probably more worried about breaches around the coast than you are about spring tides coming up the river. But at least it gives us time then to work out what we’re going to do next, as the problems become more severe.

“We did the same thing as before: we did some R&D; we then built up our business case and we went out and pitched it. We did some market research with students from UEA, who really understand the environmental issues. And so it became very much evidence-based, as opposed to “make it up as you go along”; that’s what I think brought the investors in this time.”

“It’s an inspirational building; it becomes an attractor for renewable energy businesses.

And that’s very important for us, because we feed off the engineers around us,” Mark says.

“We’re about being close to market; so every single investor that’s invested in Tidal Harvester is an engineer. They have all worked offshore; they all understand what we’re trying to do and why the energy companies will like it. None of them is just taking a punt on something that might be quite clever; and everyone has something positive to contribute as an engineer.

Whether it’s about the power take-off, or how we anchor the system to the sea floor, or whatever it is, they all feel that they can add something to make the chances of success that much better. This is of course the ideal angel – you’re not just looking for money; you’re looking for technical expertise, contacts, understanding of the market or whatever it happens to be, some way of adding value beyond just simply the pound notes.”

The company has a growing portfolio of innovative projects that will keep them fully occupied, but what’s the biggest challenge for 4NRg right now? “Finding the project that will win us our third EEEGR award in a row!”

Adastral Park is BT’s global innovation and development centre. It’s also the home of InnovationMartlesham – a joint initiative by BT, Local Authorities and the Haven Gateway Partnership to bring ICT related companies to the Park: http://atadastral.co.uk Support at national level The Department for Business and Industry (www.bis.gov.uk) has a comprehensive list of sources of help and advice on innovation, including: • the Technology Strategy Board (www.innovateuk.org), which provides a range of support for R&D and innovation including grants and support for knowledge transfer • Government funding for venture capital: the UK Innovation Investment Fund • tax relief for technological R&D provided by R&D tax credits • reduced tax scheme on patent and certain other income (from 2013), called the ‘Patent Box’ • guidance on how to access business finance and other business support • loans available from European Investment Bank (EIB) for investment by business and universities in R&D and innovation • business opportunities from public procurement, including pre-commercial procurement such as the Small Business Research Initiative and Forward Commitment Procurement • help for UK companies to identify and benefit from developments in science and innovation overseas via the Global Science and Innovation Network.

• knowledge transfer from the Government’s research base • support for design, protection of intellectual property including patents and copyright, standards and measurements provided by our innovation infrastructure partners.

• exporting support for innovative UK companies, and inward investment and R&D partnering support for overseas companies provided by UKTI

IoD suffolk | summer 2012 | 23

IoD Summer 2012 issue_Layout 1 28/05/2012 14:16 Page 24

I’m helping to beat cancer, too!

Ride a bike, go for a hike, sing a song, knit-a-thon. It doesn’t matter what you’re good at, there’s a way to raise money and help save lives. Our research is funded entirely by the public, so we really need your help to raise as much as we can to continue our work to beat cancer.

Find out how by visiting www.cancerresearchuk.org/fundraising or calling 08701 60 20 40 and register for your fundraising pack.

Cancer Research UK is a registered charity in England and Wales (1089464) and in Scotland (SC041666).

IoD Summer 2012 issue_Layout 1 28/05/2012 14:16 Page 25

CORPORATE NEWS

How do you turn a good idea into a real business?

That was the issue facing Adande Refrigeration, an engineering consultancy in Lowestoft.

energy costs, wastes food and eats profit. In essence Adande’s idea was to store food in an insulated drawer. When you open the drawer the cold air stays where it is meant to be, with the food. Energy costs are halved and food quality is improved.

Adande put together a team of advisers, including Chris Thomson, from Bury St Edmunds Solicitors Greene & Greene. Chris had spent most of the 1990s helping clients to innovate in the biotech sector. That experience taught him that a good idea needs protection, funding but, most of all, the energy and enthusiasm of investors and commercial partners willing to support its development. Chris explains “Innovators don’t have time to make mistakes. Usually funds are limited and you want to be first to market. Learning from the experience of others improves your chances of success”.

They spotted a basic problem with refrigerators. Every time you open the door, the cold air falls out. That wastes energy and means that temperatures within the fridge vary hugely. You may not mind that at home, but in commercial kitchens it increases

Chris joined Adande’s board and helped the company protect its ideas, collaborate with commercial partners, raise funds and maintain good relations with investors.

These days the company has a substantial business supplying products to customers ranging from multinationals like MacDonald’s and KFC to fine dining

restaurants like Le Manoir and The Dorchester. Export sales are increasing.

Chris has helped license Adande’s technology in four continents.

Chris takes pride in being part of the Adande team. “This is the most enjoyable work I do.

Some businesses expect a solicitor to just tell them that “the law says do this don’t do that” and put a bill in. For me it is far more satisfying to work with a client over time, to give them the benefit of experiences we’ve had elsewhere and to help them to succeed in the way that Adande has.”

Adande continues to innovate, and to support new innovations. The company is working on new technology for supermarkets and has sponsored “World Skills”, a showcase for up and coming chefs. Chris continues to work with the company and to also work with other innovators in markets such as medical devices and animal health.

For further information, please contact Chris Thomson on 01284 717412 or christhomson@greene-greene.com

Soaring into the cloud 2012 has been positioned by many in the IT industry as the year of ‘the cloud’. There has been no shortage of businesses moving their systems into the cloud every day, with 1,100% growth expected by 2015.

The cloud offers tremendous benefits to businesses, with email, documents and software applications such as Microsoft Office all accessible from a central cloud service, removing the need to maintain expensive onsite servers.

A recent survey by Microsoft found that 80% of SMEs consider it ‘essential’ that cloud services are provided by local companies.

Security is often the most cited reason for delaying a move into the cloud, with businesses wanting greater reassurance that their valuable data is in safe hands.

Outsourcing into the cloud not only provides significant long-term cost savings but also gives much greater flexibility, allowing you complete access to all your documents and email from anywhere you have internet connectivity – home, on the move via WiFi and mobile, or from another office location.

Suffolk businesses are embracing the cloud.

One local company taking steps to help their clients move into the cloud is Strident Computer Systems which has invested in a new datacentre at Crown House in the heart of Ipswich.

Businesses can quickly and easily scale up or scale down cloud services as and when they are needed, only paying for what they use and everything is automatically backed up.

Andy Pope, managing director of Strident Computer Systems, explains: “As we developed our own cloud infrastructure in Suffolk, we wanted our customers to

understand the benefits that it will deliver them rather than the complexities of the technology itself.”

“By opening our own cloud datacentre in Ipswich, we can reassure customers that whilst their data is ‘in the cloud’, it is not geographically far from them at all,” added Andy Pope.

For more information on cloud innovation in Suffolk please visit: www.strident.co.uk or call: 01473 835 280.

IoD suffolk | summer 2012 | 25

IoD Summer 2012 issue_Layout 1 28/05/2012 14:16 Page 26

COMMERCIAL C OMMERCIAL L LAW AW AD ADVICE A VICE Chris one Chris Thomson Thomson iiss o ne of of tthe he top top commercial commercial lawyers law yers He hass o over 24 experience off tthe in EEast ast Anglia.

Anglia. H e ha ver 2 4 yyears ears e xperience o he opportunities businesses. iissues ssues ffaced aced aand nd o ppor tunities open open to to b usinesses. management Chris C hris is is actively actively involved involved in tthe he m anagement of of Greene Greene business on board G reene & G reene aass a b usiness aand nd ssits it s o n tthe he b oard Refrigeration. off client client Adande o Adande R efrigeration. furthur FFor or fur thur information, information, please ccontact ontact Chris Chris on 01284 717412 or christhomson@gr christhomson@greene-greene.com eene-greene.com

How high is your profile?

Work with us to fly above the rest

public relations O reputation O social media

olicitors 80 Guildhall Street Street Bury Bury St St Edmunds Edmunds IP33 1QB G Greene reene & G Greene reene S Solicitors mail@greene-greene.com www.greene-greene.com www.greene -greene.com T 01284 762211 mail@greene-greene.com

01473 326400 info@genesispr.co.uk www.genesispr.co.uk

Intellectual Property Rights and the Olympics Whilst everyone is watching the main sporting drama of the events at the London Olympics this year, the event will also demonstrate the benefits that can be achieved by having a monopoly created by Intellectual Property Rights (IP Rights).

The Olympics provides a number of marketing opportunities for companies but, as you would expect the International Olympic Committee keep a keen eye on the IP Rights associated with the Olympics.

Olympic Games. David, a keen sailor, will be based at Weymouth (the sailing venue) for the Paralympic Games and is still waiting to hear where he will be stationed for the main Olympics.

The Olympic organisers are very conscious of the need to maintain exclusivity for the main sponsors of the events, as they have invested substantial sums of money for that exclusivity. In particular, the Brand Protection Team will be watching to ensure that any attempts at ‘ambush marketing’ are headed off, and will also be explaining to smaller traders why unauthorised use of the Olympic symbols is not permitted as it dilutes the distinctiveness of those symbols.

Whilst the Brand Protection Team may restrict the activities of some companies, other businesses may be benefiting from their own Intellectual Property Rights at the Olympics. Companies may be using their own patents to ensure that they are the sole supplier of products to the elite Olympians.

For example, in 2008, Speedo owned numerous patents relating to the LZR swimsuit and 98% of all medals won at the Beijing Olympics were won by swimmers wearing this swimsuit.

Dummett Copp LLP are very pleased that David Copp, one of our founding partners, has been seconded to join the Brand Protection Team for the London 2012

26 | IoD suffolk | summer 2012

As in all industries, progress is essential and, since Roger Bannister’s sub 4 minute mile on a cinder track in 1954, modern running

tracks have developed significantly following a patent for a paving material filed in 1962 by 3M, the company who also gave us the Post-it note. Interestingly, one of the inventors of this new ‘springy’ paving material also created Scotch Tape. This year one particular athlete could benefit from the innovation of a device originally patented in 1992.

Oscar Pistorius, the ‘Blade Runner’, could become the first athlete in history to win medals at both the Olympic and the Paralympic Games.

Whilst these are specific examples, London 2012 will serve to demonstrate how your company could use Intellectual Property Rights to achieve a competitive advantage within your business arena.

May 2012 Nick Jackson njackson@dummett.com

IoD Summer 2012 issue_Layout 1 28/05/2012 14:16 Page 27

BUSINESS PROFILE

Nowadays when you think of insurance many people tend to conjure up images of red telephones and meerkats along with hunting down the cheapest possible prices. At Ryan Insurance Group we have a different philosophy, which is about good advice, value for money and meeting your needs.

Ryan Insurance Group Protecting your world since 1975 Although the ways in which people buy their insurance has changed over the years, with the introduction of the direct insurer call centres in the early 90s and more recently the plethora of insurance comparison sites there is still huge demand for the independent broker and the added value we offer to our customers.

We are proud of what we do: providing a professional service and expert advice to our customers from the time you take out your first policy to helping you through the claims process should you be unfortunate enough to make a claim. This is what we have been doing since we began selling our first insurance policies in 1975; many of these customers are still with us today and almost feel part of the family.

We are one of the very few brokers in the region that still offer both personal and commercial insurance. In fact our Business Insurance Division make up for 50 per cent of our business and our Private Clients Division takes care of the personal insurance needs of these commercial customers.

Over recent years we have developed specialist divisions within the group namely our Hospitality Division, for accommodation providers, pubs and restaurants and our Enterprise Division which looks after all the insurance needs of self employed individuals.

Our Business Division also specialises in the shipping and logistics industry and social welfare sector. It’s this formula which has enabled our staff to specialise in these areas by understanding the sectors and the products available which ultimately provides our customers with the best possible advice.

business. We remain committed to our independent status, our traditional values and always putting the customer first.

Our staff have always been a great asset to us and we have created a ‘family feel’ within the business, after all almost 50 per cent of our staff have been with us for over 10 years which is testament that it is not only our customers that value what we do.

Ryan’s are proud of the service we provide to our customers so if you like what you have read and would like to join the family, please get in touch.

Giving advice and providing solutions to protect your assets is still what we do best, whether it is insuring a prized beach hut on Felixstowe sea front or arranging a programme of insurance and risk management for a large manufacturing

It is because of this commitment and the dedication of our team to giving great customer service that we have grown and maintained our success over 37 years. It is a family business in every sense of the word.

We strive to preserve those values which are important to us and to our customers and where we feel we can really make the difference and set us apart from other brokers.

Ryan Insurance Group Ltd Crane Hall London Road Ipswich IP2 0AL 0800 093 4462 tracy.healey@ryan-group.co.uk www.ryan-group.co.uk

From insuring a prized beach hut to arranging a programme of insurance and risk management for a large manufacturing business, Ryan’s can help

IoD suffolk | summer 2012 | 27

IoD Summer 2012 issue_Layout 1 28/05/2012 14:16 Page 28

INVESTMENT

Can a bottle really be worth that much?

Wine Investment with Johnny Wheeler of Culver Street With a bottle of wine in a supermarket costing on average less than £5.00, prices of top Bordeaux and Burgundy at ten or even a hundred times as much can be hard to comprehend. It is not unusual to find that a case of Grand Cru Burgundy costs upwards of £1000 today, and a First Growth Bordeaux is difficult to source at under £5000, that’s £400 plus a bottle. The casual observer would be forgiven for wondering what planet buyers of these wines were on.

Costs of production do rise with quality – small scale production, low yields and the use of hand-made new oak barrels all add to cost – but in reality it is difficult to spend more than €10 or €20 making a bottle of wine even at the very best vineyards. One of the world’s most expensive chateaux, LafiteRothschild, is reputed to have earned €70m in 2010 on a turnover of €80m. The earnings figure did not include depreciation costs, no small matter with a large chateau and 100 hectares of vineyards to maintain, but under any measure its cash-generating ability is eye-watering.

As any economist will tell you, the price of a commodity is determined in the long run by demand and supply. The most celebrated wines are, unsurprisingly, in permanent short supply. Vineyard acreage at Lafite or Latour is fixed and production of the ‘Grands Vins’, the top bottlings at each chateau, is actually falling as winemakers select ever more strictly in the search for the ultimate bottle.

28 | IoD suffolk | summer 2012

These chateaux are all the more celebrated on account of their history – they are amongst the select few to have been classified Premier Cru (First Class) in 1855 – and enjoy a form of natural monopoly that pushes prices in only one direction.

Demand has risen steadily over a century as wine culture has colonised more and more corners of the globe. Wine drinking has become a lifestyle choice from Beijing to Bombay, with the new rich keen to drink only the best. The association with cultural sophistication, a whiff of aristocracy and limited supply have proved a winning combination. And it’s not just millionaires’ juice – plenty of us will find an occasion once or twice in our lives to splash out on a really memorable bottle of wine.

It is this rising tide of value that provides the logic behind wine investment. Buying early, storing cases in ideal conditions and selling into the international market as the wine matures – the formula is quite simple.

Execution can be rather more complex with issues of vintage variation, excise duty, provenance and authenticity to deal with, and market volatility can’t be ruled out.

Expert advice is needed to avoid the pitfalls.

But with market turbulence all around us it’s not surprising that ‘alternative’ commodities such as wine, with a growing market presence in the still-burgeoning economies of Asia and the BRIC countries, have become a popular investment.

Next time: the do’s and don’ts of wine investment Culver Street is a boutique fine wine trader specialising in managing cellar portfolios for private clients. Culver Street has recently launched Vinsignia, a wine fund qualifying under the Enterprise Investment Scheme. www.culverstreet.co.uk

IoD Summer 2012 issue_Layout 1 28/05/2012 14:16 Page 29

(

) #$ ! '! "! * ,

!' &'$ *

! ! "*

"'$% % & + &$ *

""

$& $

# $ # $%"! !& %

"

"$ & & '! ! $ ( " # %% " %# $ ! ) ! # $ # $%"!

!& $*

Seckford Hall

Hintlesham, Ipswich IP8 3NS www.hintleshamhall.com

Hotel & Restaurant

I N T R O D U C I N G

Featuring Chris Lee’s ‘Select’ and 8 course Tasting menus ‘Classic’ menu, set lunches and lighter meals served in bar/restaurant

AA Restaurant since 2007

THE BILDESTON CROWN 104 High Street Bildeston, Ipswich Suffolk IP7 7EB Telephone: 01449 740510 www.thebildestoncrown.com

IoD suffolk | summer 2012 | 29

IoD Summer 2012 issue_Layout 1 28/05/2012 14:16 Page 30

IoD Summer 2012 issue_Layout 1 28/05/2012 14:16 Page 31

SUFFOLK WOMEN IN BUSINESS – NICOLA SEXTON

Best foot forward She has made the leap from well-heeled shoe lover to high-end importer and brand namesake. Nicola Sexton, of Bury St. Edmunds’s Nicola Sexton boutique, tells us why life is too short for boring footwear.

That may be true regarding her foray into retail, but Sexton had seen all aspects of business – both good and bad – in her previous work in the property sector.

“It gave me a huge introduction to business and I saw that it wasn’t just plain sailing,” she said. “Because I’ve had no experience in the fashion industry, I just follow my gut instinct, and, so far, every single thing has just slotted into place without a hitch.”

Nicola Sexton’s eureka moment arrived in a fleeting exchange from an expensive car.

“I was walking through Mayfair when a guy screeched to a halt and called out his window, ‘I love your boots!’ And then just drove off,” Sexton said.

That was it: within months, Nicola Sexton’s exclusive range of high-end heels was taking Bury St. Edmunds by storm. Complete with a fuchsia-soled and NS-initialled stiletto emblem, Nicola Sexton the shoe lover became Nicola Sexton the brand.

Sexton had been working in property, but found the demands of “flying here, there and everywhere all the time” didn’t fit with raising two teenage daughters in Suffolk.

One perk of business trips to Monaco was the discovery of high-quality Italian shoes that weren’t available in Britain. Sexton saw a gap in the market, and the comment from the passing driver in London propelled her into action.

“It was one of those feelings that it was meant to be,” she said, two years after opening Nicola Sexton in a timber-beamed shop on one of Bury’s prime shopping streets.

“I hadn’t got a clue what I was doing, if I’m completely honest. I really did leap in.”

So how does one go from feeding their own shoe addiction to supplying other likeminded women with footwear they can’t find anywhere this side of the Channel?

In Sexton’s case, it was as easy as knocking up some business cards enabling her to gain access to a show in Milan that is only open to those in the shoe industry. Lacking such key elements as a premises or prospective suppliers, Sexton headed straight for her “favourite designer of all time, Luciano Padovan,” who invited her to his Italian factory, where his designer sketched the stiletto emblem now emblazoned throughout her boutique. Before long, Sexton was being asked to bring her exclusive ranges of Italian shoes to events in London, which helped her capture a customer base stretching far beyond Bury. She makes it all sound simpler than deciding between ankle boots in brushed suede or patent leather.

Sexton estimates that 60 per cent of her merchandise is unavailable elsewhere in the UK and, in addition to her own Nicola Sexton range of pumps made in Italy, she offers a bespoke service, which she said accounts for about 10-15 per cent of her business. It sets her boutique apart, she said, adding that “customer loyalty has been phenomenal.”

Since opening Nicola Sexton in April 2010, Sexton said business has increased month on month, exceeding targets. With just one other full-time employee, Sexton devotes herself tirelessly to her business, and says her twiceyearly buying trips to Italy are intense and exhausting, but partly attributes this to her tendency toward perfectionism. She is now looking to Copenhagen for a new accessory

range, and also carries belts, bags, scarves, umbrellas and more, in addition to more ankle-friendly wedges, slingbacks and sandals. It is, though, her trademark killer heels that stand out: Sexton said she’s incapable of wearing anything else, even as she sprints up the shop’s steep staircase in an eye-wateringly elevated red pair to retrieve stock.

On a breezy market Saturday, women of all ages wander around the tidy shop floor.

While Nicola Sexton is a hit with race-goers and those looking for something to complement their formal wear, this morning it’s the effortless chic of a navy blue wedge made popular by the Duchess of Cambridge that several shoppers can’t resist admiring.

At price tags scaling £650 for some boots, it’s firmly in the aspirational realm for many shoppers, but so popular have the Nicola Sexton range of pumps been that they will soon be available in a number of stores around Britain and Ireland.

“The wholesale aspect is something I can do from here,” Sexton said. “I would love to have another store, but until I’m able to recruit another part-time member of staff to fit into the very tight relationship Lucy and I have formed, it will not be a priority.”

Starting an independent business from scratch is quite a daunting process, particularly in an uncertain economic climate. But Sexton said she was empowered by doing something entirely herself – “sink or swim” – and has no regrets.

“Setting up on my own is the best thing I’ve ever done,” Sexton said. “I’m surrounded by the thing I love, but the stock is changing constantly. You just get totally absorbed by it all, but I’m a workaholic so I don’t mind.

I listen to what my customers want, and I hope I deliver. Being able to provide that service is really rewarding.”

And then she’s off, dashing upstairs in heels that frighten the more timid wearer of sensible shoes, to feed a footwear frenzy that doesn’t appear to be abating any time soon.

IoD suffolk | summer 2012 | 31

IoD Summer 2012 issue_Layout 1 29/05/2012 17:02 Page 32

CONFIDENCE You can be confident that our years of experience in creating work place solutions will work for you.

Advice Line:

0845 603 1585

"You can only be a true market leader when you no longer resemble your competitors"

The Specialists in office interiors sales@sourceoneconsulting.co.uk www.sourceoneconsulting.co.uk Based in Ipswich with branches in Cambridge, Letchworth & Nottingham.

Left to right: At the West Wing at Ickworth House are Malcolm McGready (Ensors) Graeme Leach (chief economist, IoD) Paul Winter (Chair, IoD Suffolk) Simon Quantrill (Quantrills) and Nicola Furmston (Barker Gotelee)

Grexit and the UK effect Graeme Leach, the Institute of Directors’ chief economist and director of policy, gave his perspective on the Greek euro crisis and its effects on the UK at IoD Suffolk’s May breakfast.

Speaking at the West Wing at Ickworth House, he said: “The euro crisis never went away, but even for those who thought it had, recent weeks have been an ugly reminder of the downside economic risk to the UK economy.”

He said the potential solutions lie with fiscal and monetary policy but that “Germany and France have a fundamentally different concept of what fiscal union means.

To Germany it means hard binding rules in order that the Club Med economies don’t get in this mess again. For France fiscal union means Germany opens her cheque book.”

32 | IoD suffolk | summer 2012

He continued: “It could be argued that at one minute to midnight Germany will blink and baulk at the prospect of Grexit and financial contagion and capitulate to Greek demands to ease the austerity programme.

This argument is appealing but flawed nonetheless. Germany has had ample opportunity to ease off on the pressure for austerity but has failed to do so.”

Graeme Leach said he didn’t believe further austerity measures are sustainable in Greece.

He said: “Barring unforeseen economic and political miracles, Greece is going to run out of money, default and crash out of the euro.”

He said the uncertainty on the continent clearly adds to the gloom and doom at home, in the wake of the UK falling back into technical recession in the first quarter of 2012.

“What business needs now is the confidence to invest and recruit, because UK plc has the cash – around £750 billion at the last count.

But the longer the euro crisis goes on, the longer companies delay taking on staff and taking the plunge with investment. In my view we’re entering the end game for Greece.

What happens over the next six months could largely determine UK economic prospects for the next decade.”

IoD Summer 2012 issue_Layout 1 29/05/2012 17:02 Page 33

LEISURE

Getting to grips with the joys of golf...

Having run Corporate Golf Days for a number of years it is clear that there are some who would welcome the opportunity to experience the event, but feel that their golfing skills come up short.

“It can be difficult to get to grips with new skills and Andy’s calm and patient introduction to the game of golf was essential. It made the day accessible and much more enjoyable.

This year Ufford Park saw its Corporate Golf Day being combined with the venue’s 20th anniversary celebrations and this served as a great opportunity to introduce a new element to the celebrations.

“We had no idea of the complexities of the equipment or about the etiquette of the game when we arrived. As the day progressed, however, we felt confident enough to give it our best shot, while having fun and playing in a relaxed, informal setting.

For those being completely new to golf, we offered a one-to-one coaching session with Andy Kirk, a golf pro who is part of The Doctor Golf Academy.

Stuart Robertson Head PGA Golf Professional The Doctorgolf Academy & Director of Golf Ufford Park Hotel, Golf & Spa 01394 382836 mail@doctorgolf.co.uk www.doctorgolf.co.uk

We had two novices this year and by all accounts, it was a worthwhile experience.

As they told me afterwards: “Andy took us through all we needed to know – from pointing out the difference in the clubs to explaining the jargon of golf. At the end of the session we confidently tried the first hole of the course – only to discover that we were well below par!

“It was a great experience and we thoroughly enjoyed ourselves as we gained a much better understanding of what golf is all about.

It was surprisingly fun and golf is clearly a game that can be enjoyed by all – whatever your age or fitness level Ufford Park caters for everyone.

“It is certainly true that golf is a great way to escape the rush of modern life and enjoy quality time in the fresh air.”

This is just one of the ways we are looking at opening out the game to a broader audience.

Meetings with Style Ufford Park Woodbridge near Ipswich in Suffolk offers more than just a choice of great conference rooms - it uniquely provides packages to refresh both your mind & your body.

87 bedroom hotel 2 storey driving range Health Club & Luxury Spa 18 Hole, Par 71 golf course Team building available

Air conditioned banqueting & conference rooms (2-300) Tailored corporate golf & conference packages available Restaurant & Bar

For more information call 0844 477 1832 or visit www.uffordpark.co.uk Yarmouth Road, Melton, Woodbridge, Suffolk IP12 1QW

IoD suffolk | summer 2012 | 33

IoD Summer 2012 issue_Layout 1 28/05/2012 14:16 Page 34

BOOK REVIEWS Where Good Ideas Come From: The Natural History of Innovation

by Steven Johnson Epenguin (eBook) £7.99

The Ten Faces of Innovation: Strategies for Heightening Creativity

by Tom Kelley Profile Business £6.99

The world economy is now approaching the final death rattle of the greatest Ponzi scheme in history: a scheme in which politicians stood by as the financial industry and sovereign governments created a vast overhang of debt, a mountain of lowquality assets – and laid the foundations for an economic disaster which will dwarf any other in history. There are four possible outcomes for our future: – economic growth (unlikely) – stagnation (probable) – inflation (bad) – default (disastrous). Which of the four it will be depends on choices that are being made right now, not always wisely, by politicians, technocrats and bankers. Planet Ponzi is a provocative assessment of the state of today’s global economy. Mitch Feierstein reveals the true debts of Britain, the US government and the eurozone – the full picture, not the figures the politicians would have us believe. In Planet Ponzi, Feierstein explains clearly the background to the world's worst financial crisis for seventy years, predicts the next steps in this infinitely dangerous game and offers practical advice on measures which you personally can take to protect yourself and your family.

A brilliant guide to fostering creativity and business innovation, ‘The Ten Faces of Innovation’ shows how any individual can become an experienced architect, storyteller, caregiver or crosspollinator...just four of the ten characters that can be adopted in different situations to create a broader range of solutions to business problems. At the start of the creative process you might be the ‘anthropologist’, going into the field to see how customers use and respond to products; later you might be the ‘hurdler’, who overcomes obstacles on the way to the finished product.

The book explains with examples from business how adopting these characters can beat naysayers who stifle innovation.

Serial Innovators: Firms That Change the World

by Claudio Fesser John Wiley & Sons £23 The average life expectancy at ‘birth’ of a firm is roughly 15 years, and only one out of twenty lives longer than fifty years. Firms are born, they grow, then they struggle to keep up with changing markets.

Slow adapters often become big losers, fall by the wayside, and die.

Serial Innovators studies the factors affecting the ageing of firms, particularly those that slow down their ability to adapt to changes in the marketplace. The book reviews recent findings in relevant academic fields to understand how firms, as they grow, develop rigidities that prevent change.

34 | IoD suffolk | summer 2012

Gamestorming: A Playbook for Innovators, Rulebreakers, and Changemakers

by Dave Gray O'Reilly Media £17 We're moving from an industrial to a knowledge economy, where creativity and innovation will be the keys to value. New rules apply. Yet 200 years of industrial habits are embedded in our workplaces, our schools and our system of government.

How must we change our work practices to win in the 21st Century? Gamestorming is a playbook for people who want to design the future and innovate. It's a rough-and-ready toolkit for inventors, explorers and change agents who want to use design thinking to grow and sustain movements for change.

Gamestorming is full of practical, proven solutions to common workplace challenges.

Learn how to engage people in your project, to get better traction and move more quickly with groups, to make things happen and get better, faster decisions and results.

St Joseph’s College

BUSINESS BOOKS

Whole College Open Morning 13 October 2012 Informal Open Morning 16 November 2012 Whole College Open Morning 9 March 2013

A co-educational Independent Day School for 3-18 year olds with boarding facilities.

Scholarships and bursaries up to 100% of fees available.

A Christian School in the Lasallian Tradition.

Belstead Road, Ipswich, England IP2 9DR Telephone: 01473 6980281 registrar@stjos.co.uk www.stjos.co.uk

IoD Summer 2012 issue_Layout 1 28/05/2012 14:16 Page 35

CULTURE

From ancient Greece to Stratford 2012...

This summer, London’s Olympic Park will be filled to capacity as spectators flock in their thousands to the 2012 Games. But how did the tradition of the sports stadium begin? What were the origins of the multitude of arenas that can be found all over the world today?

Stadia: Sport and Vision in Architecture, an exhibition at Sir John Soane’s Museum in Lincoln’s Inn Fields, London, will trace the evolution of these iconic structures – from ancient times to the state-of-the-art stadium in Stratford.

Sponsored by Populous, designers of the main 2012 stadium, the exhibition, which runs from 6 July until 22 September, starts with the first, permanent structures – such as those at Olympia and Nemea in Greece and Rome’s Colosseum, itself an inspiration for Soane.

A Panathenaic amphora showing the ancient Greek armour race, terracotta lamps featuring gladiator fights, and a large bronze goose that adorned the Hippodrome at Constantinople will all be on loan from the British Museum, celebrating the way art has been used to embellish and celebrate sports arenas throughout history.

By the Middle Ages, temporary structures took the place of permanent venues and sporting contests were played out in town squares, watched by fans on temporary grandstands.

One of the greatest treasures on display is a Renaissance manuscript owned by Soane – the earliest archeologically correct record of the Colosseum and regularly consulted by Michelangelo. The second half of the exhibition focuses on the modern stadium, including a detailed model of the Stratford building, displayed in the new Soane Gallery.

The gallery, designed by architects Caruso St John, is the first part of a £7million restoration programme ‘Opening up the Soane’. Two domestic interiors have been converted into exhibition space, both rare examples of Soane’s surviving architecture and of the interiors of the 1790s. New display cases use the latest lighting and environmental technologies to protect sensitive and valuable artworks.

Tim Knox, director of the museum, is delighted for the opportunity to bring ancient and modern together and celebrate the Soane’s new galleries: “The great stadia of the ancient world, like the Colosseum, are the ancestors of the innovative sports architecture of today’s Olympiad.

“Roman reliefs of chariot racing in a hippodrome, Soane’s drawings of the

Colosseum, and the oval form, tiered seats, and retractable ‘velarium’ of the London 2012 stadium, demonstrate the inexorable impact these ancient architectural designs have had on modern forms.

“By hosting this exhibition in our new exhibition galleries in the heart of Sir John Soane’s museum, we celebrate the ancient roots of today’s Olympics, whilst looking forward to architectural visions of the future.”

Rod Sheard, senior principal at Populous, said: “Stadia have become the ‘cathedrals’ of the 21st century. The London 2012 stadium will be one of the most viewed buildings in history, and will bring a pilgrimage of national and international athletes and spectators to celebrate a unique experience.

“We are at a point in which a stadium, more than any other building type in history, has the ability to shape a town or a city. It puts a community on the map – establishing an identity and providing a focal point in the landscape. It is by observing the past that we can move forward and create these catalysts that regenerate complete areas and become part of the legacy of a larger process.”

IoD suffolk | summer 2012 | 35

IoD Summer 2012 issue_Layout 1 28/05/2012 14:17 Page 36

MEMBER PROFILE

Dave Norval CHARTERED DIRECTOR

How would you sum up your business career?

In a word: varied! I was very fortunate to be given the opportunity to work in many sections of the AECI, a subsidiary of ICI, which included a secondment to the UK in the 80s and West Africa Ghana in the 90s.

Through the exposure to different functions and training I have acquired a broad range of knowledge and skills that are benefiting me greatly as a non executive director. Today I have involvement in many sectors which makes my daily business life very interesting.

Are there lessons from Africa?

Dave Norval, a Chartered Director, has worked globally at Board level in mining services and construction in Africa, Middle East and Europe. Closer to home he is Deputy Chairman of Ipswich Hospital NHS Trust and has been on the Board since 2005.

There are many. Africa is developing so many more opportunities than in developed economies. While growth is assisted by innovations such as internet and mobile technology it still relies heavily on personal relationships. Africa presents a huge market potential, countries like Ghana are growing at >5 per cent per annum. One key lesson is that African culture respects age and wisdom and they still strive to ensure the elderly are looked after within the extended family system.

Has Chartered Director status helped, if so how?

I was only admitted as a Chartered Director in December 2011 so directly not at this stage, but I believe that shareholders will be demanding that the board is made up of sufficiently qualified and competent directors. However the requirements to qualify as a Charted Director have been very good. I completed both the IOD Certificate and Diploma in company direction, then submitted my portfolio of experience for peer review. The combination of theory and experience has been beneficial to me and the companies I work with.

What do you like about the IOD? I have the occasion to work in London a few days a month and really appreciate the facilities at 116 and 123 Pall Mall. I often entertain clients from Africa at Pall Mall and the location and service creates an impressive image of UK business. Locally I enjoy attending the various activities.

From talking to other people our local group is very active and creates a good mix of instructive and social events.

Biggest challenges of the Board Room?

To ensure the board is working as a group of equals and not just representing their respective functions. The importance of individual executives and non executives is to realise they all have equal power and responsibilities in the Board Room. Also to ensure that while the interests of the shareholders are important, taking into account environmental and social responsibilities is becoming very important too, as is the need to be compliant with the many and varied regulations.

Favourite part of Suffolk?

Suffolk is a wonderful county to live in and there is always plenty to do. I like all the seaside towns including Felixstowe where I live but my favourite is Southwold.

Are you a member of the IoD? Join us and you’ll discover a unique mix of opportunities to learn and be inspired by interesting speakers; meet other directors, senior managers and professionals and enjoy a variety of social occasions with a big member discount.

Many of our members take advantage of other IoD benefits including the superb meeting space and facilities in Pall Mall, London, which are FREE to use; FREE one-to-one expert advisory sessions and FREE business information queries answered within 24 hours.

As an IoD Suffolk member you are also entitled to free access to a dedicated workstation in the new e-touchdown on the 5th floor at Eastern Enterprise Hub in the James Hehir building on Ipswich waterfront.

See www.eehub.co.uk For membership details email caroline@iod-suffolk.co.uk

36 | IoD suffolk | summer 2012

IoD Summer 2012 issue_Layout 1 28/05/2012 14:17 Page 37

We supply an extensive range of ceramic, porcelain, glass and natural stone wall and floor tiles.

Our showroom has a comprehensive display with the majority of products being exclusive in our region.

To complement the quality of our tiles we have wonderful sanitaryware products on display along with very stylish designer radiators and towel rails.

E

LA

N

E

There are also many related products and accessories available including a range of shower enclosures, showers, taps and underfloor heating.

G

DE

LEOPO

STER

LD

SI

HE RO

AD

RO

ST

AD

R USH MER E WO OD BR IDG E RD

HEA TH ROA

ROAD

AV E N U E

ROAD

GORING

ROAD

L AT T I C E

HALL

SPRING

W OOD BR ID GE R D

BENT LANE

D

GE

AD RO

D

visit our showroom 36-38 Woodbridge Road (A1214) Rushmere St Andrew Ipswich IP5 1BH. T: 01473 617050 www.foxwoodceramics.co.uk

BEECH ROAD

ID

JU P ITE RR

BR

D OR

LINKSFIELD

ING RD

RD

RD ER

RE AD

OD

F AY PL

D

PH OE NIX

E

A

WO

ER

RO A D

RE

SC HR EIB

ME

MI LT ON

ST

WELL

RO

KIRBY

CAULD

SPRING

AD

SH

HM

O

WOODB RI D GE

RU

S RU

R

ROAD

L C

ROAD

AT

CO

IoD Summer 2012 issue_Layout 1 28/05/2012 14:17 Page 38

The future of high-performance luxury cars, available now from Bury St Edmunds Audi & Ipswich Audi.

Bury St Edmunds Audi

Ipswich Audi

Skyliner Way Moreton Hall Bury St Edmunds Suffolk IP32 7YB 0844 776 0618 www.burystedmunds.audi.co.uk

2 Bath Street Ipswich Suffolk IP2 8SG 0844 776 0483 www.ipswich.audi.co.uk

Part of the Marriott Motor Group Franchise Group

Part of the Marriott Motor Group Franchise Group