34 minute read
Patron Focus
A historic firm with a modern outlook
Longmores Solicitors has had a long and distinguished history in Hertfordshire, providing private and commercial clients with a top-quality service since 1819. Yet the firm prides itself on its modern, forward-thinking approach and ability to respond rapidly to clients’ changing needs.
It is this philosophy that has stood Longmores in good stead through the years, one that has helped the firm grow its reputation and influence in the legal marketplace.
Joint senior partners, Chris Pease and Richard Gvero, lead a modern and progressive firm of experienced solicitors who operate across the spectrum of private and commercial clients. The private work spans personal disputes, family law, residential conveyancing and employment law for employees. On the commercial side, the work covers business disputes, commercial property, rural land, employment law for employers and a company and commercial practice headed up by Daniel Burns. This practice deals with all manner of business transactions, including mergers and aquisitions, private company corporate finance, shareholder and partnership agreements on the corporate side and a wide range of commercial contracts and advice in relation to other commercial issues such as intellectual property, IT and data privacy. Now Daniel wants to use Longmores’ Chamber patron status to maintain and strengthen the firm’s presence in the local business community. He says: “We want to expand our horizons both within Hertfordshire and beyond. Our brand is already recognised throughout the county but we also want to use networking opportunities, such as those offered by Chamber events, to reach out to other businesses that perhaps haven’t heard of us. It also allows us to get involved more with the local community and give something back to the area that is very much a part of our identity.”
Operating across a wide range of business specialisms is helping to cushion Longmores against the impact of COVID-19. Daniel, who joined the firm last year, says: “The diversity of our practice, allows us to be resilient in these difficult times. Mergers and acquisitions have generally been put on hold so that area is quiet for us, but the employment law side is exceptionally busy as you’d expect. As a modern, forward-thinking firm, we’ve invested in technology so staff can work remotely and keep providing an excellent service to our clients.”
Building a brighter future for all Leaving a social, environmental and economic legacy is a key cornerstone of Willmott Dixon Construction’s philosophy.
The fifth generation-owned family business is well-known for its sterling work on new-build projects, including schools, housing schemes, leisure centres and hospitals, but providing wider societal benefits is just as
important as generating revenues.
Richard Davidson, Director of Willmott Dixon, says: “We have a purpose beyond profit; we want to improve the wellbeing of people in society beyond the buildings we create. We do this by being as sustainable as possible in different ways – by creating apprenticeships or providing work experience opportunities, for example, or by reducing our carbon footprint and protecting and enhancing biodiversity on our projects. was a key reason why we decided to become a Chamber patron last year.”
For Richard, having patron status is a great business development opportunity for Willmott Dixon - but that doesn’t just mean cross-selling products and services to other members.
He says: “It’s also a chance for us to engage more broadly with the wider community, to find out what’s going on and see if we can add value to other organisations, and vice-versa. Some of the small businesses I meet are driving forward some fantastic initiatives that we could get involved in – initiatives that would bring wider benefits to the community. Together, we can think outside of the box and inspire each other.”
a leisure centre in Harpenden. The company continues to plough ahead with other projects, although steps have been taken to minimise the impact of COVID-19.
Richard says: “We’ve put extra checks in place on site and we’re practising social distancing wherever possible. It’s a tough time but it’s vital that there’s a construction industry to come back to after this virus has passed. Construction provides 15% of UK GDP and accounts for around three million jobs – or 10% of total UK employment. This industry is going to be crucial to the fortunes of the economy postCOVID-19.”
In conversation with ...
Julia Bunting Marketing and Communications Director, Support UK
Support UK supporting customers with their critical communication needs These are challenging times that we find ourselves in and although we may sometimes moan about technology and the hold it has over our everyday lives, where would we be without it right now?
Nowadays, we rarely like to use the word “normal” but going to work, irrespective of workplace location, is “normal”. So when we are told that we aren’t able to attend our normal place of work, it becomes essential to have the tools in place that will enable us to keep going.
Since our Government ordered lockdown, Support UK have been inundated with customer requests to provide various solutions to ensure varying levels of business continuity. There are very few organisations that have adequate plans in place for this type of catastrophe, so naturally we are doing everything in our power to ensure that businesses can still continue to function outside of their normal parameters. As well as supporting our own customer base, we have been trusted advisors to other UK telecommunications companies, sharing our in-house expertise to deploy working from home strategies, both quickly and efficiently. We deem it imperative that every sector has access to the products and services that will allow them to function effectively, whether or not they have a budget to cope with a business continuity strategy. To guarantee this, we offered the education, health and non-profit sectors a free no obligation 3 month subscription to our new Cloud Office hosted solution powered by Avaya.
This pandemic will change our business landscape for ever and we have to embrace technology to maximise our chances of survival. Our customers that adopted a unified communications solution before The Coronavirus outbreak, were already in a strong position and have seen effectiveness of employees rise and productivity soar and now understand the business savings that can be made by implementing a mobility solution for their workforce. During the last few weeks we have seen a surge in companies investing in hosted telephony, unified communications, software and call recording solutions and a huge spike in the demand for headsets, especially for use with softphones. Our support services have also been incredibly busy customising complex call routing plans, especially for our customers with contact centre departments and operator services. We have many customers in the finance, travel, manufacturing, retail, science and technology and public sector, where it has been essential for many of these organisations to continue to work. One of our biggest customers is a global travel company. They have had no choice but to cancel over ten thousand holidays and to
do this with as little disruption as possible, we created dedicated outbound call groups with the specific aim of calling customers to re-arrange their bookings. Within 24 hours we successfully implemented full remote working for all of their employees, created remote contact centres in the UK and Australia, closed many other locations and diverted these calls to a fully functioning remote contact centre. During this time we also delivered training on the contact centre reporting software, which will be critical to ensure they maintain their strong customer experience. However, on a more positive note, on Sunday 5th April their inbound sales agents took 34 new bookings for cruise holidays in early 2021. This is certainly something to celebrate!
Technology enables business transformation and it allows you to push boundaries. Irrespective of your business size, voice technology has the ability to adapt your business, creating a more resilient environment for your organisation to flourish. We have been helping businesses of all shapes and sizes to adopt reliable technology that will continue to drive their business forward and serve their customers effectively.
If you would like to have an informal chat about how we can help your organisation, get in touch with us on 0345 241 1521, info@support-uk.com or via the contact us section at www.support-uk.com
CYBER CRIMINALS EXPLOIT CORONAVIRUS PANDEMIC CYBER CRIMINALS EXPLOIT CORONAVIRUS PANDEMIC
As your workforce’s dependency on digital communications has grown, so has their vulnerability to criminals. In today’s unprecedented context, a cyberattack that deprives businesses of access to their devices, client data or connectivity could be devastating. On March 27th Europol issued “Pandemic profiteering: how criminals exploit the COVID-19 crisis”. The key findings of this report in relation to Cyber Crime stated “Criminals have used the COVID-19 crisis to carry out social engineering attacks, namely phishing emails through spam campaigns and more targeted attempts such as business email compromise (BEC).” Below we provide some useful hints and tips. As your workforce’s dependency on digital communications has grown, so has their vulnerability to criminals. In today’s unprecedented context, a cyberattack that deprives businesses of access to their devices, client data or connectivity could be devastating. On March 27th Europol issued “Pandemic profiteering: how criminals exploit the COVID-19 crisis”. The key findings of this report in relation to Cyber Crime stated “Criminals have used the COVID-19 crisis to carry out social engineering attacks, namely phishing emails through spam campaigns and more targeted attempts such as business email compromise (BEC).” Below we provide some useful hints and tips. In the March/April edition of Inspire we urged Hertfordshire Businesses to invest in a comprehensive Cyber Insurance policy; stating it was ‘essential’. In ‘lockdown’, more than ever, we are here to support business owners by providing the correct insurance solution for their business and employees. WE’RE HERE TO HELP... In the March/April edition of Inspire we urged Hertfordshire Businesses to invest in a comprehensive Cyber Insurance policy; stating it was ‘essential’. In ‘lockdown’, more than ever, we are here to support business owners by providing the correct insurance solution for their business and employees. WE’RE HERE TO HELP...
Health England or the World Health Organisation. Scammers create emails that appear to come from these sources, but contain malicious phishing links or dangerous attachments. ...asking for charity donations for health studies, doctors, or victims that have been affected by the Coronavirus (COVID-19). Scammers often create fake charity emails after global events. BE CAUTIOUS WITH
Health England or the World Health Organisation. Scammers create emails that appear to come from these sources, but contain malicious phishing links or dangerous attachments. ...asking for charity donations for health studies, doctors, or victims that have been affected by the Coronavirus (COVID-19). Scammers often create fake charity emails after global events. BE CAUTIOUS WITH
EMAILS... 5 SIMPLE TIPS TO AVOID GETTING TRICKED
BEWARE OF ONLINE REQUESTS
FOR PERSONAL
BEWARE OF ONLINE REQUESTS
FOR PERSONAL
CHECK THE EMAIL ADDRESS OR LINK CHECK THE EMAIL ADDRESS OR LINK
Sometimes, it’s obvious the web address is not legitimate. But keep in mind Phishers can create links that closely resemble legitimate addresses. Delete the email. Sometimes, it’s obvious the web address is not legitimate. But keep in mind Phishers can create links that closely resemble legitimate addresses. Delete the email.
WATCH FOR
SPELLING & GRAMMATICAL
SPELLING & GRAMMATICAL
LOOK FOR GENERIC GREETINGS LOOK FOR GENERIC
GREETINGS
Phishing emails are unlikely to use your name. Greetings like “Dear sir or madam” signal an email is not legitimate. Phishing emails are unlikely to use your name. Greetings like “Dear sir or madam” signal an email is not legitimate.
AVOID EMAILS THAT INSIST YOU
AVOID EMAILS THAT INSIST YOU
for commercial businesses across Hertfordshire We are based in Potters Bar, but our services are available for businesses across South East England. “The railway station opened in August 1850 on the former London to Peterborough line passing between the villages of Potters Bar and South Mimms, encouraging people to relocate to the area and boosting investment in housing.”
Our mission is to source high quality recycling materials to supply mills in the UK and around the world. We are dedicated to diverting quality recyclables from landfill and work with our customers to ensure that where possible, this is completely eradicated.
Why choose CS Recycling?
Free recycling audits for all prospective customers Free Waste Transfer Notes for all our customers Transparent pricing, there will be no hidden costs.
We also offer confidential shredding…
Transport connectivity offers route to success
The name Potters Bar is thought to derive from evidence of a Roman pottery, believed to have operated in the Parkfield recreation ground area.
The Potters Bar of today owes its growth and development to the coming of the railways and the development of the wider transport network. The railway station opened in August 1850 on the former London to Peterborough line passing between the villages of Potters Bar and South Mimms, encouraging people to relocate to the area and boosting investment in housing.
This was the catalyst for rapid suburban growth, the emergence of industry and the continuing development of road and rail links, notably the M25, which has enabled Potters Bar to grow into a modern town with an active community life.
Businesses are very much part of this thriving community. Established for more than 30 years, Sampson & Partners Fencing supplies and installs all types of fencing including security, industrial, timber fencing, railings, barriers, bollards and gates including automation and integrated access control systems. From its Potters Bar base, the company serves a range of clients including local and national building contractors, civil engineering contractors, government bodies and private industry.
Would you like a quote?
enquiries@csshredding.co.uk
Why choose CS Shredding?
We offer a 10% discount on our
services for Hertfordshire Chamber
of Commerce members and for our CS Recycling customers. Director Marc Sampson says: “Our office in Potters Bar is conveniently situated between three major road networks: the M1, M25 and A1. This puts us in a great position to serve London and the home counties. There are also many other businesses that take advantage of this location and we are here to serve their security needs.” Right now, with the country in lockdown, much of the construction supply chain is closed for business to comply with social distancing rules that protect staff and operatives. However, Marc believes his company is well placed to capitalise on an upturn once business returns to normal. He says: “I believe that placing our business into isolation at this juncture is the morally correct thing to do to protect my staff and others. We still have “stock and existing contracts” so once the social distancing rules are relaxed, we’ll be able to return to site in a timely manner. Once the virus has run its course, there will be a need for increased security measures including the requirement for fencing and access control. There may also be a lot of dormant sites that need protecting. Furthermore, the government requirement to increase the housing stock will continue, and this is another sector we are heavily involved in.”
sales@sampsonfencing.co.uk www.sampsonfencing.co.uk Sampson & Partners Fencing
CS Recycling
Recycling?
andre@csrecycling.co.uk
We also offer confidential shredding…
Another Potters Bar business that is adapting to the COVID-19 situation is CS Recycling. The company has been providing recycling services to businesses across the South East of England for more than 80 years. Emma Curtis, marketing manager and data protection officer at CS Recycling, says: “As we have seen a significant drop in the quantity of commercial recycling, we have sadly had to furlough eight members of our team, which will enable us to get past the lockdown phase of the pandemic. We’re operating on a smaller scale to meet the needs of our customers in essential industries such as wholesale, hospitals and food preparation. Longer-term, we’re looking to invest in our confidential shredding side of the business. We are expecting a steep increase in employees working from home when the lockdown is lifted and businesses are operating as usual. We can see that confidential document collections will need to be available for employees working from home to divert the confidential documents from kerbside paper recycling collections. So, we are working with our existing and potential customers to identify exactly how we can meet their needs.”
If you are having a big clear out of documents, we can provide you with a pack of our shredding bags. When you have filled the shredding bags, we will arrange the collection from you. We only charge you for the sacks that you fill at £4 + VAT per sack and a call out charge of £30 + VAT. CS Recycling exports to meet the demand of recycling mills around the world. Although the lockdown has disrupted the flow of recyclable materials to these mills, leading to a short-term deficit, Emma is confident that the company will be able to navigate the new commodity market landscape on the other side of the pandemic from its base in Potters Bar. “It’s probably the most ideal location for an exporting company like us,” she says.
Hertfordshire’s data destruction service provider
“It’s a massive advantage to be so close to the major road networks. As we export 80% of our products, it gives us swift access to the major ports such as Felixstowe, Dover and Thames Gateway. It’s also great for accessing our commercial recycling customers as we’re so close to Watford, Stevenage, Welwyn Garden City, Bishops Stortford and other major industrial hubs across Hertfordshire.”
www.csrecycling.co.uk www.csshredding.co.uk
Excellent transport connectivity is also a reason why
Chasebridge Wealth
Management enjoys being located in Potters Bar.
Director Gordon Craft says: “We have the M25, M1 and A1 on our doorstep and we have great rail links into London.
“We’re a patron of Hertfordshire Chamber of Commerce and this has enabled us to make some great connections locally. We’ve engaged with a digital marketing company to help us develop ideas to grow and develop our business in the area.”
Gordon has worked in financial services for more than 20 years. He provides advice on all areas of wealth management, including investment planning, inheritance tax planning and retirement planning. He recognises that savings may be depleted and disposable income scarce as businesses stave off the effects of COVID-19.
“It might encourage people to do more financial planning so they don’t have to live hand-to-mouth if something like this happens again,” he says. “We’re adapting to this situation by using different technologies to maintain good client relationships. We’re hosting meetings via Zoom and we post thought-leadership articles on LinkedIn to remain visible to the outside world.” “Businesses need to be flexible and agile,” he says. “We can guide them through the possibilities with creative ideas alongside pragmatic strategies. When the isolation rules begin to ease, the level of competition amongst all businesses will intensify; I can help business owners, entrepreneurs and tradespeople to gain a competitive advantage and hit the ground running.
The lockdown will have a number of direct and indirect consequences, including economic hardship for many business owners, cashflow issues and inertia. As an agile business with low overheads and the capability to be flexible and adapt, I believe we are well-placed to weather the storm and help others to do so too.”
Purple Marketing helps businesses improve their marketing ROI, visual impact, reputation and response rates. The company provides planning, graphic design, copywriting and content services using Zoom, Skype, Teams, Facetime and WhatsApp. Its design and printing facilities remain open so businesses can use the lockdown time to update, upgrade and generally improve the quality of their marketing materials.
Jeremy believes that the diversity of Potters Bar makes it the ideal place in which to live and do business.
He says: “We enjoy the best of both worlds: beautiful green countryside on our doorstep, combined with a superb train service that gets us into central London in just 16 minutes, and we are just a short car or bus trip to the Piccadilly Line on the London Underground.
Potters Bar is notable for the quality of its local schools and the world-renowned Royal Veterinary College has its main campus nearby. Unlike some of the surrounding towns and villages, properties in the town remain reasonably priced, ensuring that businesses here can offer great value.”
“We enjoy the best of both worlds: beautiful green countryside on our doorstep, combined with a superb train service that gets us into central London in just 16 minutes, and we are just a short car or bus trip to the Piccadilly Line on the London Underground.” Jeremy Silverstone of Purple Marketing Communications
Protecting businesses during unexpected crises
The COVID-19 crisis has rapidly changed business operations, encouraging them to shift to a remote, digital working model.
During the past decade, organisations have been implementing new technology capabilities into their IT landscape to transform their current operating model to a more digitally enabled operating model.
The current atmosphere of uncertainty calls for faster more efficient implementation of such capabilities. Alongside operations and finances, organisations have to rapidly rethink their customer lifecycle engagement model. To minimise risks, several organisations have taken measures to safeguard their employees and have executed a Business Continuity Plan (BCP) to protect their services. We have outlined some of the key steps that organisations need to take to 1) weather the risk unexpected economic volatility poses to operations 2) develop operational and financial resilience to build sustainable business models.
Operational Resilience:
1. Assess whether the current operating model is fit for purpose or needs redefining. 2. Business capability maturity assessment should establish whether current capabilities are adequate or if new capabilities need to be developed/ procured to deliver the strategic objectives. 3. Product and services value propositions need to consider whether businesses can continue to retain and attract customers as per their growth plan. 4. Protect assets from external threats (e.g. cyberattack, scam emails, etc) by collaborating with IT service providers. Ensure the ability to recover services and data from last known position. 5. Review communication strategy, such that employees, customers, stakeholders and shareholders are kept regularly informed.
Financial Resilience:
1. Businesses need to assess their short-tomidterm financial stability, monitoring cash-flow and margins. 2. Review current supplier partnership contracts.
Engage with suppliers early in the process to develop a commercial model that is mutually beneficial. 3. Review Capex and Opex models.
Avoid hasty decision to minimise short-tomidterm Opex forecasts. Use operating model lenses to assess how existing resources can be exploited. 4. Following business reviews, invest in innovative ideas or existing backlog transformation initiatives that can accelerate the implementation of new operating model.
Contact : e: Shan.Pretheshan@supa-itconsulting.co.uk t: 07956073264 www.supaitconsulting.co.uk In collaboration with our clients, working to transform business foundations to achieve a more resilient model that delivers measurable outcomes!
Government supporting tech start-ups
Over the last two weeks I have been working with the tech industry, colleagues in Parliament, and officials at HM Treasury to try and agree a bespoke Covid 19 support package for tech start-ups.
Bim Afolami Member of Parliament for Hitchin and Harpenden
With a package of more than £1bn in support for the tech start-up ecosystem, the Chancellor is making his commitment clear that Britain should be the best place in the world to start and grow a tech business.
Now, Britain’s start-up ecosystem is the biggest and best in Europe. This is the result of years of hard work from the ground-breaking entrepreneurs who have built brands to rival the best in the world. These companies, once footnotes, are now the stars of our economy not just in a small corner of East London but across the UK. They grow faster and hire more than almost any other sector of the economy, with British tech firms raising more money last year than their French and German counterparts combined. It was all going so well, then the coronavirus crisis hit. Much like the rest of the economy, the capital that fuels this success disappeared overnight. Start-ups went from future stars to fighting for survival in days.
Of course, this should not be surprising from a Chancellor who has seen the success that embracing tech can bring - he experienced first-hand the innovative drive in Silicon Valley which grips the British start-ups he is helping today. For anybody who hasn’t seen the Chancellor in action, let me assure you that he is as impressive as the reports say, and he combines a winning personality with an overriding aim of building the best economy possible for the UK. As with all great policies, the key now will be implementation. We are working on the detail to make sure the money gets to the companies that need it in a timely fashion. There will also be public/ private partnership between private investors and HM Treasury, which means that the British taxpayer will directly benefit when these start-ups grow into successful larger businesses. But the government’s commitment will not only help British start-ups survive this crisis, it helps set the course for Britain’s economy – one driven by innovative, competitive entrepreneurs breaking down barriers and spurring growth. By backing our tech ecosystem, the Chancellor does not just save start-ups in the short term, he future-proofs Britain’s economy in the long term.
Nathanael Young, a specialist litigation and insolvency lawyer, answers questions about the effect of the coronavirus on contracts.
What effect has coronavirus had on contracts?
Q
Over the last few weeks, coronavirus has caused unprecedented disruption to most businesses. This has led to a huge increase in enquiries about the effect of the outbreak on contractual obligations. Some are finding contracts difficult or impossible to perform, while others are faced with arguments the other party can’t perform. A
What happens if I can’t
perform a contract? Q
In some cases, there will not be any issue. Some contracts allow a party to cancel without preconditions. It may suit both parties to cancel or reschedule. However, by default, contracts bind the parties until they are completed – or performed as lawyers say. Being unable to perform a contract will normally mean the other party has a claim against you for damages, even if it was not your fault. A
What can excuse non
performance? Q
The legal concept of
‘frustration’ may stop a party being liable, but only if performing the contract has unexpectedly become either impossible, or radically different from what was envisaged. Frustration is all or nothing - if it applies, it results in the contract being discharged, so that no further performance is required. If it doesn’t, the normal rule applies. A
Does frustration apply to
my contract? Q
The rules on frustration may be displaced by the A
contract itself. Many written contracts include ‘force majeure’ clauses instead, which set out what happens when significant events occur outside the control of the parties. These often involve suspension at first, followed by complete cancellation if the suspension lasts long enough, so in some cases they can give a very different outcome.
Can I rely on force
majeure? Q
Force majeure doesn’t apply by default; it only applies if a clause to that effect appears in your contract. Even if it does, it is crucial to check whether and when the rights under that clause can be triggered, the effect that will have, and whether any special notices or conditions are required. Not all clauses give the same rights. A
If there’s no force majeure clause, is my contract frustrated?
Q
Frustration doesn’t require a specific clause or even a written contract. The coronavirus outbreak has also led to many unexpected events. A
However, frustration is very fact-specific; it depends on analysing what performance is required and what effect events have had on that performance.
As frustration has such drastic consequences, it does not apply just because the contract has become more difficult to perform or there is likely to be a delay in performance.
What happens if we have started to perform a contract and it is frustrated?
Q
Not all contracts are the same, but the general rule is that money paid before the frustrating event has to be repaid, while money due beforehand ceases to be payable. However, a party that has incurred expenses can hold back or recover a sum for those expenses to the extent the court considers that just. A
Likewise, the court can require a party who has already gained a valuable benefit under the contract to pay an appropriate sum for that benefit.
Please note the contents of this article are given for information only and must not be relied upon. Legal advice should always be sought in relation to specific circumstances.
In Conversation... with Donna Obstfeld
Managing Director of DOHR
How do I get my staff to care about my business as much as I do? “They may forget what you said, but they will never forget how you made them feel.”
This quote has multiple sources, but for me the underlying message for employers links this famous quote to company culture. How you make your staff feel says a huge amount about you as the business owner and often dictates how engaged your staff are with you, your business and your goals.
How do I create the right culture?
To create the right culture involves multiple stages:
1. Design the culture you want
– know what you want your business to stand for and feel like (both internally and externally)
2. Communicate the culture
you want – help those around you to share your vision and to understand your why. It is far easier to buy into something you truly understand 3. Embed the culture you want – this involves training, feedback and reinforcement of positive examples of the culture you are creating and want others to adopt 4. Lead by example – As the business leader, the buck stops with you. If you create the right culture and everything you do and say reinforces that culture, those around you will not only know what is expected, but will understand what they are required to do and most importantly, how to do it.
How do I maintain the culture I want?
Once you have achieved the right culture, you need to ensure that every aspect of your businesses reinforces that culture so that employees are engaged and continue to contribute at the highest levels. To do this you need to look at key business processes: • Who are you recruiting – do they have the same values as you and are they a good fit for your culture? There are plenty of people who could do the job, but they must want it for the right reasons (and not purely for the pay). • How do your policies and procedures support your culture and incentivise the right staff to join you and then to stay with you? This is multi-faceted and examples include: o Flexible working – hours, days and location o Benefits – annual leave, medical care, gym membership o Dress code o Performance management o The office environment o Your charitable works o Your customer service policies o Your environmental credentials
Once you have the right culture in your business and are actively managing people and processes to create, maintain and reinforce that culture, the right employees will care about your business. They will understand your ‘why’ and your ‘how’. Employees who live and breathe your culture, are fully engaged with your business and will care about your business as much as you do. If they aren’t engaged with your business and therefore don’t care about your business, they are the wrong people and need to be changed!
Call DOHRtoday on 01923 866037 to discuss how we can save you time, money & stress! www.dohr.co.uk
Legal Property Experts in association with Penman Sedgwick LLP
Claire Miller – Partner, Head of Property, Penman Sedgwick LLP
Commercial Leases: Quarterly rents, cashflow and the impact of Coronavirus (COVID-19)
Most commercial leases require the tenant to pay the annual rent due to the landlord in advance by four equal quarterly instalments during each year of the term, usually on the ‘traditional’ quarter days (25 March, 24 June, 29 September and 25 December), although some leases refer to payment on the ‘modern’ quarter days (1 January, 1 April, 1 July and 1 October).
Either way, if you are a commercial tenant it is quite likely that just as you have been getting to grips with the current restrictions that have been put in place to control the spread of the virus a significant payment fell due under your lease – and it is quite likely that the economic impact of the COVID-19 pandemic will still be playing out when the next payment falls due in a few weeks’ time. Cashflow pressures are a concern for any business – what should you do if you suddenly find that you cannot pay your rent? This is clearly a concern for both the landlord and the tenant. In this time of crisis many parties have already had to make decisions (or are about to do so) about whether a shortterm rent concession might be agreed, and if so on what terms. It is important (if future disputes are to be avoided) that any rent concession is properly documented and there is a lot to consider when doing so. For example: How long will the concession last? Is it purely a personal arrangement between the parties? Is the rent simply being deferred, or are the payment dates being amended? If so, can the landlord charge interest? Or is the landlord agreeing to waive the rent for a specified period? How does the rent concession impact on any security the landlord might hold, such as a rent deposit or a personal guarantee?
If you are looking for legal advice, we can help.
Problem Solved
Unlock the Key Human Performance Indicators in your people
Optima-life are thought leaders who blend expert knowledge from the worlds of sport, business and health with technology. Our clients, ranging from SMEs to multinationals, come from a variety of sectors and are often experiencing the challenge of accelerated change or growth. Regardless of their profile, a characteristic our clients have in common is a recognition that supporting their people is critical for sustained performance.
For Leaders: Coaching & Mentoring
What sort of leader do you want to be?
Our work will focus on your: • Energy • Balance • Communication • Health & wellbeing • 21st century leadership
For Teams: Workshops, Talks & Webinars
What sort of team do you want to be? Our training focuses on their: • Energy • Resilience • Efficiency • Adaptability • Culture
For Organisations: Our digital platform
What sort of organisation do you want to be?
Our approach focuses on organisational: • Energy • Wellbeing • Engagement • Cohesion • Environment
If you would like to talk through how we support organisations and explore how we could help your people, do make contact via info@optima-life.com and we can arrange a time to talk.
The Conscious Leaders Podcast is a fresh new podcast from Mindful Pathway. In it, Ruth Farenga (Founder, Mindful Pathway), talks to progressive business leaders focused on creating a positive culture and leading in progressive and innovative ways. Shining a spotlight on Conscious Leadership
This insightful interview series features conversations with CEOs who are empowering their staff. Each guest talks about their journey, their philosophy including their values and ethos as well as the practical side and how this plays out
on a day to day basis. In challenging times, it is important to give ourselves perspective and focus. The Conscious Leaders Podcast
provides an opportunity to engage with cutting edge leadership and offers listeners the chance to reflect on their own challenges and successes.
The guests in this series all come from different industries and perspectives. There are some common themes but the interviewees have all come to their own way of leading via a different route, with a powerful story to tell. “I am really proud and excited to bring this series to the public. This is a transformational time as leaders revaluate the way they behave and I found from my research that leaders like learning from other great leaders in both philosophical and practical ways. I have the honour of talking to leaders with a more progressive approach. I hope people find it insightful.” says Ruth Farenga.
Episode 1 features John Hesler from the Napkin group discussing how releasing his grip on control has served him. Episode 2 features June Cory of My Mustard fame delivering a frank insight into leadership.
