The Chamber Surrey, May 2016 by Benham Publishing Limited

theChamber Voice&VisionofSurreyBusiness|May - June 2016 www.surrey-chambers.co.uk | ÂŁ3.95 (where sold)

EU Referendum - Your Views Page 26 24 Hours with... pg 20

Sector Focus - Venue Finder pg 29

Nick Wyschna Guildford Fringe

When being hospitable pays off

Big Interview with Venner Shipley pg 22

Technology Showcase pg 40

The importance of protecting scientific ideas

Latest technology news

Contents

theChamber

Voice & Vision of Surrey Business www.surrey-chambers.co.uk

May - June 2016

Welcome to theChamber from our Chief Executive Louise Punter Softening economic growth a cause for concern Businesses in Surrey have recently contributed to the British Chambers quarterly economic survey, which is showing nationally a picture of softening economic growth, with potential risks arising both here at home and overseas. This trend isn't dramatic, nor indicative of an impending recession - but certainly something that should trigger warnings around Whitehall and Westminster. The thing is, in the febrile climate around the EU referendum, those warnings can seem faint when compared to the fanfare around the start of the main campaign itself, following last week's designation of the official Remain and Leave campaigns. But all the noise doesn't make our warning any less important. Recent experience, particularly with the steel industry, airport expansion, and so much more, suggests that much more remains to be done. One of our many priorities over the coming weeks will be to get this message across, so that our politicians hear, as one best-selling author has put it, the signal -- rather than just the noise like a social issue but it is a key business issue raised by several of our members. Businesses recently gave the Green Light to exploring whether a Business Improvement District (BID) is right for Epsom. Surrey Chambers hosted a visioning event at Epsom Playhouse to consider what a BID might do for Epsom if one were created. There are already BIDs in Camberley and Guildford, which enable the local businesses to decide where to spend extra income ring-fenced through Business Rates. The delegates from 40 businesses across Epsom were very keen to progress the investigation. I had a fantastic time when I attended the Surrey Advertiser’s Toast of Surrey Awards last week and had the

privilege to be presenting the International Trade award which was won by Vocality but closely contested by the other three brilliant Surrey Chambers members: Conjoint Export Services, Perfect Pitch and Global Travel Management. Global Travel Management however were also nominated and won the award for companies with a turnover over £5 million. A huge congratulations to our members Julianne Ponan from Creative Nature and Source Supplies who both won awards too. It was so great to see so many familiar faces win some amazing awards. I have been bowled over by the fantastic work local companies are doing overseas and hope it will encourage other businesses to “go global”. We are now looking for Chamber Business Awards 2016 entries. This programme is one of the UK’s most contested and prestigious business award programmes with organisations of all sizes and from all sectors from right across the UK competing for the coveted titles and the national recognition they bring. I would like to secure some wins for Surrey so encourage submissions from all businesses.

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Introduction Members News Members News Financial Law Members News Members News Members New Ask the HR Expert Health and Wellbeing Members News Investment News 24 Hours with... Big Interview International Trade

Editorial and General Enquiries Surrey Chambers of Commerce Unit 14a, Monument Way East, Woking, Surrey GU21 5LY Tel: 01483 735540 Fax: 01483 756754 Email: info@surrey-chambers.co.uk

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Cover Feature Sector Focus Venue Finder 36 Venue Finder Industry Comment 38 Design/Leisure 39 Economy/Development 40 Technology Showcase 43 Ask the Expert 44 Member News 45 Business News 46-47 Chamber Events 49 New Members 50 Chamber Chat

Production Manager Mark Etherington Email: mark@benhampublishing.com

Media No.

Chief Executive: Louise Punter Finance: Caroline Cherryman

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Editor

Disclaimer

Aisha Bennett Tel: 01483 735545 Email: Aisha.Bennett@surrey-chambers.co.uk

The Chamber is published for the Surrey Chambers of Commerce and is distributed without charge to Chamber members in the county. All correspondence should be addressed to the Editor at Surrey Chambers. Views expressed in The Chamber are not necessarily those of Surrey Chambers of Commerce. Reprinting in whole or part is forbidden except by permission of the Editor. © 2016.

Publisher Ian Fletcher Benham Publishing Limited 3tc House, 16 Crosby Road North, Crosby, Liverpool L22 0NY Tel: 0151 236 4141 Fax: 0151 236 0440 Email: admin@benhampublishing.com Web: www.benhampublishing.com

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Advertising and Features

Whilst every effort is made to ensure the accuracy and reliability of material published in this journal, Benham Publishing and its agents can accept no responsibility for the veracity of claims made by contributions in advertising or editorial content.

Karen Hall Tel: 0151 236 4141 Email: karen@benhampublishing.com

Benham Publishing cannot be held responsible for any inaccuracies in web or email links supplied to us.

Published May 2016 © Benham Publishing

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Introduction

A word from our President Welcome from Frankie Tierney Business owners have key role to play in referendum The upcoming referendum and the debate widely referred to as “Brexit” has officially started the formal campaign stage. You would be forgiven for not realising that it only officially started recently as it has been the subject of much debate for and against for some time now. As UK trade in Europe accounted for 45% of exports and 50% of imports of goods and services in 2014 it is entirely understandable that free trade with other EU member states is high on the list of concerns by SME’s as well as the larger multinationals. When I look at the multitude of opinions, some expert and some definitely not so expert, expressed in newspapers, social media, television and radio, it is apparent that the issues fall into two distinct areas.

Firstly the impact on business, trade and ultimately the economy and secondly the issues relating to sovereignty, protecting our borders and the creation of a “European State”. What is best for the first may not be best for the second, which creates something of a dichotomy in the decision making process. The risk of course is that people decide the whole thing is too complicated to vote on at all. It is not businesses that will be voting in June, but people. It is therefore imperative that business owners and the decision makers in the SME’s (which form by far the most numerous of the business entities in the UK) engage in the referendum, make their decision, what ever that may be and make that vote count.

“It is not businesses that will be voting in June, but people. It is therefore imperative that business owners and the decision makers in the SME’s engage in the referendum ...”

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Are you aware of the new far-reaching EU Data Protection changes that will affect your business? by Sarah Orchard, CIM The new General Data Protection Regulation, which is expected to be formally adopted this year and come into force in 2018, will have far-reaching impact on the way data protection is regulated in the UK. It will apply directly in the UK without the need for further implementing legislation and will replace the Data Protection Act 1998 (DPA) – and along with it, the relatively “light touch” regime that UK businesses have been used to. As a UK business owner you need to be aware of these changes and how it affects in particular, your collection and use of personal data whether for marketing activities or otherwise. Some key changes to note are:

1. Broader Applicability: The Regulation applies to data controllers and data processors established in the EU and also to those outside of the EU, where the processing relates to the offering of services or goods to EU data subjects or the monitoring of their behaviour within the EU. The territorial scope of the Regulation and its direct application to data processors marks a broadening of the current position and will impact on many industries, including those companies that provide cloud computing services.

2. Greater Accountability: The blanket obligation to notify with the ICO is abolished in favour of more proactive data protection procedures and mechanisms, with more requirements for businesses. As part of a drive for greater accountability, public bodies and businesses processing sensitive data on a large scale or engaged in systematic monitoring on a large scale will need to appoint data protection officers.

3. New Obligations for Processors: The Regulation introduces heightened obligations, restrictions and accountability for data processors. Like data controllers, they will be directly accountable for failures and liable to fines and compensation claims from data subjects.

4. Enhanced Rights for Data Subjects. The Regulation includes additional rights, including a new “right to be forgotten” - which is broader than the existing right to apply to have outdated search engine results removed and would entitle data subjects in certain circumstances to require data controllers to erase their personal data. Data subjects can claim compensation for damage resulting from infringements of the Regulation.

5. Greater Penalties: The maximum fine for breaches of the Regulation is EUR 20 million or 4% of annual worldwide turnover in the previous year (whichever is higher), representing a significant increase on the current maximum of £500,000 under the DPA.

*** FREE LEGAL MARKETING SEMINAR *** The CIM Surrey branch will be joining leading legal firm Stevens & Bolton LLP and Head of Data Protection, Beverley Flynn - together with the data protection and privacy team, for a more detailed update on the new General Data Protection Regulation and its implications for UK business owners on 29th June at 6.30pm. It will provide a plain English and practical guide to the Regulation and what you need to be aware of especially in relation to your marketing activity. Book your free place at www.cim.co.uk/events/

Members News

Guildford’s Fringe Theatre Company Charity receives first Workplace is going from strength to strength In 2012, Guildford Fringe Theatre Company paid actors, stage crew and directors by way of a profit share system, like many other fringe theatres around the UK. However in the past four years every Guildford Fringe production has made a profit. There is a demand for professional and high quality fringe theatre in Guildford and as a company, we now have the ability to pay our production teams and actors a set wage. Managing Director of Guildford Fringe, Nick Wyschna, commented, “I am thrilled to announce that Guildford Fringe is now at a place where we can pay all actors working with us, minimum wage rates of pay, or more!” He continues, “The Guildford Fringe uses

small, quirky venues. Although this does commonly present limitations on our seating capacity and what we can therefore pay our actors, the company is growing and as profits build, the salaries we offer will increase accordingly.” Moving forward, all casting calls for the Fringe will be advertised as paid contracts. We will be providing jobs to people in the theatre industry new graduates, as well as more experienced actors and actresses who are between mainstream West End and UK tour contracts. Guildford Fringe had been involved in discussions with

the actors union Equity, but has now decided to issue their own paid contracts with actors. Guildford Fringe Theatre Company produces many shows and events throughout the year in and around Guildford town centre. Most notable is their annual Fringe Festival that runs throughout July. With over 7,000 audience members attending the 2015 Festival, this year is set to be even bigger and more successful. For more information on our forthcoming productions and events visit: www.GuildfordFringe.com

TWM Solicitors advises Easy Convey Ltd on its acquisition by OneMove Technologies Inc. TWM Solicitors have recently acted for the shareholders of Easy Convey Ltd with regards to the sale of 51 per cent of the issued share capital to OneMove Technologies Inc. Easy Convey Ltd, which was founded in 2000, has established itself as an electronic conveyancing specialist providing a comprehensive case management solution for conveyancers in England and Wales. During 2015, their software was used to transact property value totalling £25.9 billion and generates over £55.3 million a year in fee income. Easy Convey Ltd is headquartered in Godalming, Surrey. TWM worked on behalf of the shareholders with regards to

drafting and negotiating Heads of Terms, the Sales and Purchase Agreement and assisted with other transaction related documents. The TWM team was led by Jamie Berry (Partner and Head of Business Law) and assisted by Peter Stevens and Sarah Marchant. Managing Director of Easy Convey Ltd, Dominic Cullis, said in relation to TWM’s services: “Brilliant and I couldn’t have asked for more from Jamie. Jamie got involved right from the start and achieved the best outcome for us. Personally for me as a co-director, and for the future of Easy Convey, it was Jamie’s skills. He’s very easy to deal with, knowledgeable and astute. Whilst TWM are a regional UK

law firm, Jamie has the right expertise to act on behalf of our business in relation to a deal involving an international investor with global law firm representation. “Thank you again to you and your excellent team to bring this deal to a very positive close. Your expertise ensured our deal was right for us and we made it over the finishing post.” OneMove Technologies Inc. is Canada’s leading provider of a web-based conveyancing software solution, econveyance. OneMove Technologies Inc, including its subsidiaries, employs over 150 people across Canada. For more information visit www.twmsolicitors.com

Wellbeing Charter award

Voluntary Action South West Surrey has received recognition for their work to improve the health and wellbeing of their staff through a new award. Voluntary Action South West Surrey has received recognition for their work to improve the health and wellbeing of their staff through a new award. The Workplace Wellbeing Charter award is the first to be made by the Council led Guildford Health and Wellbeing Board. The Charter is a national standard that promotes health and wellbeing at work. It helps organisations to benchmark their approach to health and wellbeing in the workplace, and to develop an action plan. Councillor Iseult Roche, Lead Councillor for Community Health and Sport presented the award to Carol Dunnett of Voluntary Action South West Surrey at a recent Guildford Health and Wellbeing Board meeting. Cllr Roche said: “The Charter is an important aspect of public health as it promotes wellbeing of staff, helps to reduce sickness absence and benefits both employees and the organisation. We are pleased to present our first award to Voluntary Action South West Surrey and look forward to working with organisations across the borough to help them achieve the same award.” Carol said: “We are delighted to receive this award and be the first in Guildford to achieve it. We believe the scheme presents an excellent opportunity for organisations of all sizes to be recognised for the good work they do to promote the health and wellbeing of staff. I hope many other organisations benefit from the Charter in the future.” Health and wellbeing at work is one of the priorities of the Guildford Health and Wellbeing Board. The Board consists of members from Guildford Borough Council, Surrey County Council, Guildford and Waverley Clinical Commissioning Group (CCG), Surrey Heath CCG and the voluntary sector.

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Members News

Whether we’re in or out - why we need to celebrate European wine As wine drinkers we are very lucky indeed to live in the UK, to our mind nowhere else offers the diversity of choice on the shelves than the UK market. In wine terms we are the ‘window shop of the world’ we have a vast choice here of wines to choose from all corners of the world, even a short hop over the channel into France and we will see wine shops dominated by French wines and this goes for most wine producing countries in Europe, they are dominated by their own wines as well as their closest neighbours. What is so great about the winegrowing regions of Europe is that they offer us so much diversity, even within their own countries, France lays claim to perhaps the greatest of sparkling wines from the northern region of Champagne to some of the

darkest and densest reds from the southern regions of the Rhone and Languedoc. Here at Cellar Magneval we believe very much in wines showing the uniqueness and qualities of the areas in which they are produced and hence why we carefully select an ever evolving range of wines that represent the best from their regions, whether it be for a private function or a bigger ticketed tasting, last month we took a journey down the Loire Valley and next month we will be sticking with France and going to Burgundy, sadly we can only really explore 6 wines in detail (each served with a delectable canapé and cheeses) but we focus on what makes that region

so special at the same time as showcasing some of its very best wines. It is a bamboozling subject learning about wine, but the

great thing is that due to the diversity of different wine growing regions and upcoming areas, it is a highly enjoyable and never ending journey!

For more information visit www.cellarmagneval.com/ripley

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Financial Law

Private Limited Company Share Incentive Schemes A share option in this context is the right to buy a specified number of shares at an agreed fixed price in the company at some point in the future. 3. Not have gross assets exceeding £30million. 4. Have less than 250 full time employees (or part time equivalent). 5. Undertake a qualifying trade, i.e. a trade undertaken on a commercial basis with a view to making profits, not consisting of excluded activities. 6. Have a permanent UK establishment. This is generally used by private companies as an incentive as the price paid by the employees is not subject to income tax or national insurance contributions. Below is an outline of the more popular tax-advantaged schemes currently in use.

Enterprise Management Incentive Schemes Enterprise Management Incentive (EMI) Schemes offer favourable tax treatment for both the employee and the company, as the tax liability only arises on the sale of the shares by the employee. These are therefore the most popular schemes. They also provide flexibility as to the terms of the option, often being performance based. Qualifying Companies In order to grant valid EMI options a company must satisfy certain conditions including: 1. Independence i.e. they cannot be a 51% subsidiary of another company or controlled by another company. 2. Only have qualifying subsidiaries i.e. the company must own at least 51% of the shares in its subsidiaries and the subsidiaries cannot be controlled by any other person.

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Qualifying Employees The employee receiving the benefit of the EMI option must be a qualifying employee. To qualify an employee must: 1. Be a genuine employee of the company (or of a qualifying subsidiary) granting the option. 2. Meet the statutory working time requirements i.e. employees: a. Who spend at least 25 hour per week working for the company; b. Whose employment with the company makes up at least 75% of the employee's working time; or c. Who has no other employment or selfemployment, no matter how little time they are required to spend working for the company. 3. Not have a material interest in the company (or its subsidiaries) granting the option, on his own or together with his associates. This arises where the employee

and/or the associate holds beneficial ownership or control of more than 30% of the shares or entitlement to 30% or more of the assets.

The Option The option must comply with various requirements to qualify as an EMI option and must: 1. be granted to either recruit or retain an employee. 2. be granted over qualifying shares. 3. comply with the limits on options (currently £250,000). 4. be recorded in a written option agreement between the company and the employee, setting out certain specified information. 5. be exercisable within ten years of the date on which it is granted. 6. not be exercisable more than one year after the date of death of the employee. 7. be non-transferable. 8. be notified to HMRC within 92 days of grant. Company share option plans Under a Company Share Option Plan (CSOP) scheme an employer can grant shares to its employees and, if the statutory conditions are met, any gain on the exercise of options will be free from income tax and National Insurance contributions. Options can be granted over shares with a total market value of up to £30,000, with the exercise price fixed on the grant of the option. The employee as

For additional information please contact: Jo Noddings, Corporate & Commercial Department email: Jo.noddings@herrington-carmichael.com 0118 977 4045

the option holder cannot exercise the option until after the expiry of a pre-determined period (a minimum of three years). At this point the option can be exercised and the shares purchased.

Save as you earn or sharesave option schemes A Save As You Earn or Sharesave option scheme (SAYE) is a share option scheme with two elements, a savings arrangement and a share option. The grant of the option is conditional on the employee entering into an HMRC-certified savings arrangement. This requires the employee to save between £5 and £500 per month for three or five years, by deduction from pay. At the end of the savings period, the accumulated savings can either be withdrawn by the employee, or used to exercise the option. How can we help? Irrespective of which share incentive scheme a company chooses to implement and operate, it is important that bespoke advice is always taken. The suitability of each scheme for a company can be discussed, as well as the requirements for implementation. You can also ensure that you get detailed analysis regarding any change in requirements, including tax changes. The Herrington Carmichael Corporate team can work with you to decide whether a share incentive scheme is right for your company and what scheme may be appropriate.

Members News

World’s largest public art event comes to Surrey CowParade, the world’s largest public art event comes to Surrey this summer and will see lots of brightly decorated fibreglass cows placed in popular landmarks across the county.

The festival, now in its fourth year, is looking bigger and better than ever before with new venues, new acts and new events to brighten up the arts diary in Guildford. The idea is that each cow is ‘sponsored’ by a business, community group, school or charity and decorated by an artist. The cows, which can be

standing, sitting or grazing, will then be herded to the inaugural Surrey Hills Food, Drink and Music Festival at Coverwood Farm, Peaslake on September 3. Cows will be auctioned off for charity with ‘sponsors’ choosing a charity of their own to benefit from half of the auction proceeds, with the other half going to the Surrey Hills Trust Fund, established in partnership with the Community Foundation for Surrey to conserve and protect the Surrey Hills Area of Outstanding Natural Beauty. The fund supports local community projects that benefit the Surrey Hills landscape. CowParade Leader Tim Metson comments; "Cow Parade provides a unique opportunity to raise awareness of the

Surrey Hills and in particular farming. My family have been farming since the 1950s, and have seen many changes. High land and labour prices, together with the depression in agricultural incomes, create a massive pressure to give up farming or diversification which does not benefit the Surrey Hills. Cow Parade coming to the Surrey Hills allows us to shine a light on what an important role farmers play as custodians of the landscape”. CowParade Surrey has already secured offers of support from key organisations including Vines Group BMW and MINI, Gatwick Airport, Denbies Wine Estate, University for the Creative Arts, The Friary Guildford, Waitrose, The Jockey Club and more.

Get involved by visiting www.cowparadesurreyhills.com or call 01483 661150.

Performances mark anniversary Throughout June and July Surrey’s award-winning Guildford Shakespeare Company will continue their 10th Anniversary celebrations with their Annual Open-Air Theatre Season. Expect a rush of colour and frivolity as two of Shakespeare’s most-loved comedies explode into life at two of Guildford’s most enchanting locations. First in the outdoor double-bill is the rollercoaster farce, The Comedy of Errors. Shakespeare’s shortest play revolves around two sets of twins who arrive in the same town, on the same day, completely unaware of the other’s existence; and so begins a whirlwind of confusion as wives, debtors, friends and even the twins themselves are caught up in the mayhem. Staged in the venue where GSC first started, the production will use Guildford Castle Grounds to take audiences from an austere gallows setting outside the

ancient Keep, through the gardens to the Victorian bandstand, re-imagined as the town market-place. The professional company will then relocate to the next

venue, the University of Law on Portsmouth Road for the second play in the open-air double-bill: Much Ado About Nothing.

More information at www.guildford-shakespeare-company.co.uk

Hayley Turner and Alex Greaves announced as Ambassadors The Investec Derby Festival has announced ex-leading jockeys Hayley Turner and Alex Greaves as Ambassadors for Ladies Day. Alex made history in 1997 when she rode Ya Malak to win the Nunthorpe Stakes at York to become the first female jockey to triumph in a British Group One. During the course of a remarkable career she racked up more than 300 winners. Hayley Turner is widely considered to be the most successful British female jockey ever. She became the second woman to win a British Group One when she rode Dream Ahead to victory in the July Cup in 2011, and followed up this success to become the first woman to win two British Group Ones after winning on Margot Did in the Nunthorpe later that same year. In addition to these achievements she became the first woman to ride 100 winners in a season. This year’s Investec Derby Festival takes place on Friday 3 and Saturday 4 June. Ladies Day, on Friday 3, will be a celebration of women from the world of sport. Ladies Day tickets start from £23.00 and Derby Day tickets start from £35.00. For further information on the enclosures and to book tickets please visit www.epsomderby.co.uk or call Epsom Downs Racecourse on 0344 579 3004.

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Member News

New Transport Strategy to get things moving A strategy with a programme of schemes covering all modes of surface transport – cars, buses, trains, cycling and walking – has been unveiled in the borough of Guildford. Councillor Matt Furniss, borough council Lead Councillor for Infrastructure and Environment, said: “For the first time, we have taken the lead in defining our own future in transport terms. We have drawn together the key strands from the forward plans and thinking of the transport providers and funders and the Council’s own transport evidence base. “The result is this up-to-date and forward-looking strategy, which sets out a programme of schemes covering all modes of surface transport in the borough and beyond. The schemes will, in combination, tackle the historic infrastructure deficit and mitigate the principal transport impacts of future proposed planned growth in our borough. “The strategy is consistent with the Council’s draft Local Plan. Our future transport system will be greener, safer and more reliable.” Journeys on key parts of the road and rail networks at peak times of the day lead to congestion and overcrowding, delays and unreliability, which directly impacts people and businesses. The new strategy sets out a programme of improvements to address the historic issues and future infrastructure requirements. Key elements include: • Transforming the A3 in Guildford and the A3/M25 Wisley interchange • Improved rail capacity with two new stations serving new and existing communities • Sustainable Movement Corridor and a comprehensive Guildford cycle network • Better bus services • Surface access to expanded airports

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A little help goes a long way: five things to outsource now For most of us starting a business is an exciting step towards greater self-determination and wealth creation.

However you start, the first steps are a combination of enthusiastic leaps and tentative pigeon steps – but are you wearing the right shoes? A lot of your time and energy can be spent on setting up the company and getting the business ready to do what you really want to do. However, unless you have done it before (and even if you have done it before), you can get distracted with the many tasks that need doing.

In the early days most companies are tight for cash and, as a result, the owners will tend to do as much as they can themselves. This is a laudable philosophy and in some respects doing everything yourself, at least for a while, is a great way to learn. However, if your ambition is to grow the business this approach will be restrictive, both on the business and you personally. If tasks can be better distributed among your existing team the solution may be right in front

of you. However, in most owner managed businesses there isn’t much spare capacity to simply offload tasks you shouldn’t be doing. The answer may well be outside. An understandable reaction is ‘but that will cost money’ and it is true – especially if they are good, professional suppliers. The point is that the time you save and dedicate to higher value work should pay for itself many times over. So try it. Start with these five things: 1. Administration and secretarial tasks 2. Marketing campaigns 3. Website development and content updates 4. Social media posts 5. Event management Ian Parker Director, Henchards Frances Cassell Director, p.a.

Business owner Sara Tye on work life balance On 26 June, Sara Tye will compete in the IRONMAN Wimbleball 70.3. The event will be the culmination of many months of training 14 hours a week at unsociable hours for the award-winning entrepreneur, top 500 international PR and business development expert. Sara’s motivation for all this exertion is her quest for the much vaunted work-life balance, the journey and experience by extending each day with quality training.

Last summer, a survey found that a quarter of small business owners have fallen ill due to stress and overwork. With this in mind, Sara, founder and managing director of redheadPR and CEO of Etape Suisse, urges her fellow business owners and employees to get active. She said: “After working flat out for over 30 years, something had to change. I tried many things but exercise has really opened my mind. It’s reduced

my stress levels massively and added a new dynamic to my life; I have extended my day and it’s helped me on the next phase of growing my business. “As well as being fitter than I’ve ever been before, I’m enjoying the benefits of a more sane work life balance. Exercise also focuses my mind on wider health issues and, as a result of this, I’m focused on my nutrition and am wheat free.”

Focus on Finance

HM The Queen and HRH The do’s and don’ts The Prince of Wales visit of good business planning Prince’s Trust Centre

Setting up successful business, PGH Pest Control & Prevention Ltd, “I’ve copied what I have learned on the Princes Trust Courses to set up this new, exciting and unique business.”

Her Majesty The Queen and His Royal Highness The Prince of Wales visited The Prince’s Trust Centre in Kennington on the 8th of March to meet young people whose lives have been changed by the youth charity as it celebrates its 40th anniversary.

The Queen and The Prince heard from young people whose lives have been turned around through The Trust’s programmes, which are designed to equip young people with the skills, tools and confidence needed to move into work, education or training.

Founded by The Prince of Wales in 1976, The Prince’s Trust has supported 825,000 vulnerable and disadvantaged young people to overcome their challenges and move into education or work.

One of those was Peter Higgs who showed Their Royal Highnesses a display case of honeycomb with thousands of bees, which he uses to demonstrate his honey bee rescue service, BeeGone.

“The Prince’s Trust has supported 825,000 vulnerable and disadvantaged young people to overcome their challenges and move into education or work.”

We all claim to do it, but what does business planning best practice look like? Don’t be fooled by the myth that only start-ups need a business plan. To get what you want from your business and to be able to drive your company and people towards that goal, a business plan is vital. We’re not talking about speciality plans designed for example, to secure funding, but rather a road map that exists to help you run your company. So, what makes a good business plan? For a plan to be usable and useful, it should be succinct, focused and fit the business need. Here are some pointers that can help you get the most from your plan. Don’t rely on intuition alone Business owners rely heavily on intuition. As a business matures decisions need to be based on more concrete objective information about customers, suppliers, competitors and talent. Invest in gathering evidence and information on which you can base your plan. Be realistic A business plan is not about identifying goals and rushing full steam ahead to achieve them. It needs to be based on a solid foundation on which you can build over time. Break the plan into achievable milestones that give you time to put the right people, systems and processes in place. Communicate the plan A plan that lives only in your computer or in a locked draw won’t deliver. Share the plan with the people who have to run it and deliver it. Engage your management team in the planning process and ensure that they take the plan to their teams to get them on board and committed. Share responsibility A task or an action that doesn’t have an owner is unlikely to be implemented. Go through your plan and establish who will be responsible for each significant

task and function at every point. You cannot take responsibility for delivering the entire plan on your own. Hold yourself to account As you develop your plan, ask yourself, how will we know if we followed the plan? How will we track results and compare them against the plan? Setting specific and measurable tasks, deadlines, budgets and building regular review sessions will help you evaluate progress. Keep it alive! No business plan is good if it’s static and inflexible. Planning isn’t about predicting the future once every few years. It’s about steering and managing a course against an ultimate destination. It requires regular review and occasionally correcting the path you’re on. By investing time and thought in developing a formal business plan you will emerge with strategic priorities, an understanding of the resources you need to achieve these and a clear path for how you are going to make money. Dan Morgan, Partner, Esher T: 020 8549 5137 E: dmorgan@hwca.com Surrey offices in Esher and Godalming www.hwca.com

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Members News

First Career Fair for school On Wednesday 19th October 2016, The Winston Churchill School will be holding its first Careers Fair. The Careers Fair will be open to all students and will encourage them to assess their current strengths and consider the skills which are valued by employers.

Car Show raises funds for hospice care Farnham’s annual Classic Car Show saw its most successful year ever this year, welcoming record numbers of vehicle enthusiasts and raising a fantastic £1,537 for local Hospice Care charity Phyllis Tuckwell. The show has been running for many years now and was held in its usual location of Farnham’s Central Car Park, on Sunday 10th April. The recent rain held off and visitors to the show were able to enjoy a sunny but windy day browsing the unique collection of classic and vintage cars, motorcycles and ex-Army vehicles which were on display. An auto jumble was set up for anyone looking for a particular car part and Phyllis Tuckwell’s Fundraising team were also there, running tea and cake stalls to keep everyone well-fuelled. Car Show organiser Hermon Frost has been a supporter of Phyllis Tuckwell for many years now and all donations received at the show each year are given directly to the charity, which provides compassionate end of life care for patients and families living with cancer, or another serious progressive illness, across West Surrey and North East Hampshire. The money raised will help to fund the medical and nursing care, therapies, counselling, social work and practical support which the charity offers its patients and their families. “We are enormously grateful to Hermon for supporting Phyllis Tuckwell, year after year, at what has become a much-loved annual event,” said Leanne Tembo, Community Fundraiser at Phyllis Tuckwell. “As the NHS/Government only covers 20% of our costs, we need to raise over £20,000 a day to be able to offer all our services, free of charge, to our patients and their families, and the money raised at events such as this contributes greatly to that.” If you would like to find out more about fundraising for Phyllis Tuckwell, please call 01252 729446, e: fundraising@pth.org.uk or visit www.pth.org.uk

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This new event will enable our students to interact with local employers, colleges and universities in order to gain valuable information and advice on the wide range of career paths, training and employment opportunities available. It is anticipated that the prospect of meeting employers first-hand will inspire our students to think about their future possibilities, to aim high and motivate themselves in school.

This event is being planned as part of our ongoing careers programme for all our students and will support other activities provided by the school, such as work experience, enterprise days and employer engagement sessions. Work-related activities already include taking part in the McLaren Manufacturing Challenge and being successful participants in the BBC School Report.

If you or your company are interested in being an exhibitor at the Careers Fair or speaking to small groups of students about your profession, please contact me directly on j.sigrist@wcsc.org.uk.

Artists’ Village provides the ideal creative ambience With the opening of Watts Studios in January 2016, Watts Gallery – Artists’ Village has moved one step closer to complete restoration as one of the most important 19th century heritage sites in the south east. Featuring stunning Victorian paintings and sculpture, unique historic architecture and inspiring spaces and grounds, the Artists’ Village provides the ideal creative ambience for meetings, conferences or receptions. This summer, alongside our permanent collection, visitors can discover how the Victorians used photography as entertainment in the exhibition Close Up & Personal: Victorians & Their Photographs (14 June to 6 Nov). This exhibition explores the ways early photography was enjoyed

by a society that quickly became obsessed with collecting celebrity images, experimenting with 3D stereoscopes and creating collages and personal photo albums. New work by our artist in residence Andrew Kearney will be on display in Watts Contemporary Gallery from 14 June to 10 July. This exhibition uses recorded images and manipulated materials to reexamine the ways we view the landscape of the Artists’ Village. Starting 15 July, Linocut Lives On - co-curated by designer

Cath Kidston -features original prints by some of the foremost British linocut artists of today. All artwork in these exhibitions is for sale. With our unique programme of exhibitions, demonstrations, events and workshops, the Artists’ Village is the perfect location to escape with your team for a meeting, lunch or away day retreat. Set within the peaceful Surrey countryside and offering a variety of tours, talks and catering options, we have a range of spaces and packages to suit every need.

Members News

Let's talk growth Where can businesses find comprehensive information about local business support, events and news, and connect with expert advisers? Check out the Enterprise M3 Growth Hub, an expert advice and resource network which helps businesses achieve results quickly through a personal, tailored service focused on growth. Businesses can find: • a comprehensive database of key business services available locally and nationally internationally

• News and events • Business Advice and expert tips • A Helpline - telephone advice on any business opportunity or question facing a business. • Web chat - interactive discussion with on-line advisers • A ‘My profile’ feature – allowing businesses to personalise interests and receive alerts tailored to their needs.

Check out the Growth Hub at www.enterprisem3growthhub.co.uk To keep up to date with the latest on local and national business support you can register on the portal and you can follow us on Twitter @EM3GrowthHub.

Training with a twist Guildford’s Yvonne Arnaud Theatre Apprenticeship of The Year Finalist in the 2016 Toast of Surrey Business Awards Supporting local theatre keeps the show on the road and nurtures the dramatists of tomorrow. Guildford’s Yvonne Arnaud Youth Theatre Apprenticeship Scheme is a year-long role for a young person looking to pursue a career in the Theatre. Apprentices learn the ropes in lighting, sound, prop and costume making in eight productions per year, as well as working in marketing, funding and operations. Uniquely, the Theatre focuses on each apprentice’s interests, helping to get them industry ready at the end of their placement. Nick White, Head of Youth, Education and Community explains, “Our scheme not only opens a door to young people, but gives them the time to learn and make informed choices about their chosen career path.” Former apprentice Laura Trundle, now Artistic Director of HookHitch Theatre Company, says “The Arnaud taught me how theatre as a whole works. It was a fantastic experience where I developed not only technical skills but also as a practitioner.”

Being nominated for Apprenticeship Scheme of the Year speaks to recent calls by Ofsted and the British Chambers of Commerce for high standard training offering employees the skills they need to succeed. Previous apprentices now work in production, run their own theatre companies and in theatre design and education, for theatres throughout the UK. The Yvonne Arnaud Theatre is seeking sponsors for the Youth Theatre. For details contact: Madeleine Coleman on mcoleman@yvonnearnaud.co.uk or 01483 535818.

Ask the HR Expert One of my employees is currently being investigated for a criminal offence. If he’s convicted can I dismiss him? NC, Reigate There are several elements to consider here. A fair dismissal is likely to be obtained if there is a connection between the conviction and the nature of the employment; for example, if the crime makes it illegal for the employee to do that job (such as working with children) or if it makes the employee unsuitable for that particular job (such as a cashier committing theft). Another reason could be that you have lost trust and confidence in your employee or that the events affect your business’s reputation too much. If your employee is sentenced to a prison term, you could dismiss with notice, or frustrate the contract. Procedure would still be required to obtain a fair dismissal; the fact that the employee is in prison does not negate the need for procedure. The length of the prison sentence would have a bearing on whether this would be a fair dismissal or not. As always be sure to conduct an investigation and follow a fair procedure allowing the employee to respond to the allegations.

I have an employee with a medical condition; what is 'reasonable adjustment'? JD, Farnham Not all medical conditions legally require reasonable adjustments – only if they amount to a disability. If the employee is disabled, then you have a statutory duty to make reasonable adjustments so that the employee is not substantially disadvantaged when doing their job. There is no exception for small employers and no requirement for the employee to suggest adjustments. Extent of improvement after the adjustment, cost, practicality, size and type of business are some of the criteria to be considered when deciding if an adjustment is reasonable. Reasonable adjustments may include: • Changing the way things are done – e.g. change of hours, ignoring periods of disability related absence for the purposes of the disciplinary procedure or redundancy selection criteria. • Physical changes to the premises – such as disabled toilets, lifts. • Providing aids to carry out the role – computer software, instructions in Braille.

Tel: 033 3305 7155 Dennis.Upfold@peninsula-uk.com www.peninsulagrouplimited.com

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Health & Wellbeing

More than just Indigestion Mr. Andrew Davies, Consultant surgeon at Spire Clare Park, discusses recent health campaigns aimed at indigestion sufferers, deciding which patients need investigation for these symptoms and the new endoscopy suite at Spire Clare Park. oesophagus, a condition in which chronic acid exposure leads to changes in the cells lining the oesophagus. This in turn can lead to oesophageal cancer, although the percentage of patients developing cancer remains very small. Although the outcomes from oesophageal cancer treatment have improved dramatically over the last 20 years, the majority of patients still present relatively late.

Acid Reflux, also known as GORD (Gastro-oesophageal reflux disease), is extremely common with up to one third of the population experiencing some symptoms on a weekly basis. It is also a major health economic issue with drug expenditure accounting for over £200 million per year. Recently, there have been a number of health campaigns targeting acid reflux, one example of which was “Action Against Heartburn”. The driver for these campaigns has been the acknowledgement that the UK has a very high incidence

of oesophageal (gullet) cancer which has been linked to chronic GORD. Whilst these campaigns made an important point, they were not intended to cause panic amongst occasional heartburn sufferers, but rather to improve public awareness and provide some sensible advice on the thresholds for further investigation. As doctors we have a responsibility to get the balance right between early detection of serious conditions, such as cancer, and the avoidance of unnecessary testing. GORD is a known risk factor for the development of Barrett’s

The consensus from these campaigns recommended patients with persistent (3 weeks or more) or unexplained symptoms of reflux should see their GP, and discouraged prolonged periods of self-medication with over the counter remedies. Those who continue to experience symptoms despite treatment and anyone with difficulty swallowing should be referred to a specialist for endoscopy. Patients diagnosed with Barrett’s oesophagus should be enrolled in a surveillance programme.

conscious sedation, this is rarely an issue. In fact, many of the symptoms of reflux, which can be debilitating, can be effectively managed by medication and lifestyle changes. The added reassurance of having had an endoscopy can be important to many patients. Surgery is sometimes considered for patients with particularly severe reflux symptoms or those that do not tolerate (or wish) to take long term medication. It can be extremely effective when used correctly, and involves keyhole surgery and an overnight stay in hospital. The new JAG accredited endoscopy suite at Spire Clare Park is an exciting development that will provide first class facilities for the investigation of reflux symptoms. The increased capacity will allow us to offer more appointments at greater convenience to our patients and is planned to open in Q4 2016.

People experiencing these symptoms, may be reluctant to consult their doctor because of the perception that endoscopy is an unpleasant and poorly tolerated procedure. In truth, with modern equipment (such as narrow endoscopes) and the options of throat spray and

Mr. Andrew Davies is a Consultant upper Gastro-intestinal and general surgeon at Guy’s & St Thomas’ NHS trust and Spire Clare Park, Farnham. He has a particular interest in laparoscopic anti-reflux surgery as well as being a specialist for endoscopy, abdominal hernias, gallstones and oesophageal and gastric cancers. Patients with any of these conditions can be seen at Spire Clare Park Hospital, assessed rapidly and treated. Mr. Davies offers regular consultations, investigations and treatment here. For more information on acid reflux, you may visit our website www.spireclarepark.com, search consultant : Mr Andrew Davies. Appointments can be made by contacting Spire Clare Park directly on 01252 895 490 or Mr Davies' medical secretary on 0203 7635 933.

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Health & Wellbeing

Taking a healthy approach to the workplace The importance of health in the workplace is increasingly being recognised and more and more employers are acknowledging that they have a role to play. So what else can you do to improve things?

A study published several years ago underlined that point. Produced by the Work Foundation in partnership with RAND Europe and Aston Business School, the report showed that an estimated 27.6 million working days were lost in a single years in Britain due to work-related illness. This represented 1.15 days lost on average per worker. The report suggested that help offered in the workplace can be effective to address poor health and well-being. It said that the idea of health and well-being at work should go beyond the mere absence of illness or disability. It should be understood as a “state of complete physical, mental and social wellbeing” as identified by the World Health Organization. Evidence reported in the study showed that that workplace ‘health interventions’, including targeting problems due to work-related factors such as low back pain, musculoskeletal disorders and mental health disorders, can have positive health outcomes. The study also suggested that interventions aimed at improving damaging lifestyle behaviours such as poor diet, smoking, alcohol abuse and lack of physical activity can be effective. The result of all this awareness is that company bosses are increasingly coming to realise that a healthy workplace has many benefits for their businesses According to ACAS, the benefits of promoting a healthy workplace include more motivated workers, improved customer service, fewer absences and greater creativity.

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The organisation advises companies to have in place effective policies for managing people issues, high levels of trust between employees and managers and line managers who are confident and trained in people skills ACAS also says that a healthy workplace is one where workers feel valued and involved in decisions. The organisation advocates managers who identify problems at an early stage and seek to resolve them using informal methods. It says that such companies use services such as occupational health where practical, to keep employers healthy and get them back to work quickly if they do have problems. ACAS says it helps if managers have been trained so that they who know how to manage common health problems such as mental health and musculoskeletal disorders Another suggestion from health advisors is healthy options in the canteen, including plenty of salads and fruit. As for employees, NHS experts say they must play their part to support the company. The NHS say that knowing how to deal with pressure at work is critical and its advice includes learning to identify the symptoms of stress as well as learning to prioritise your workload. Certainly, if you work on a computer a lot, it’s important to take regular breaks. That means for every hour at your keyboard you should rest for at least five to ten minutes. The need for regular exercise is also advised by occupational health experts, whose suggestions include walking over to someone’s desk at work rather than speaking to them by phone, take the stairs instead of the lift and using your lunch break to exercise.

Carry out health checks Cardio vascular disease (CVD) is the most common cause of death of working age people in the UK and costs the economy £3.1 billion a year due to days lost to death, illness and the care of people with the disease. Check with your local surgery or hospital about health checks which can be carried out to reduce the risk to your staff. Lose weight It’s all too easy to put on weight with a hectic modern life but you can change things.By making simple swaps, you can lose weight without giving up the things you love. For example you can swap your high calorie coffee drinks like whole-milk lattes and frappe for drinks made with skimmed milk. Swap your high sugar or fat snacks biscuits and crisps for a healthier food like fruit. At work, you can swap the lift for the stairs and rather than eating at your desk get up and move about. Be physically active Being active is good for your mind and body. Employees who are physically active take 27% less days of sick. You don’t have to join a gym or set up a rigid exercise programme. Walking and cycling to work are good low-cost ways to increase your physical activity and can be fitted into you daily routine. Many companies encourage their staff to walk and cycle to work. However, a visit to the gym is a good idea as well and some enlightened companies provide gym membership as part of employment packages for their staff, recognising that healthy workforces benefit everyone. Eat well Poor nutrition can effect your energy levels, concentration and health and make it difficult to maintain a healthy weight. With almost two thirds of adults over weight or obese in England it is important to ensure that you eat a range of food and cut down on foods high in salt, sugar and fat. Stop smoking If you are a smoker, stopping is probably the single biggest thing you can do to improve your health. Smokers on average take 4.4 more days of in sickness absence than non smokers. Stopping smoking will improve your health and fitness.

Health & Wellbeing

Did you know gentle exercise actually helps back pain? Back pain is a common problem that affects most of us at some point in our lives. It can be triggered by bad posture while sitting or standing, bending awkwardly or lifting incorrectly.

Expert spinal consultant, Adam Way of BMI Mount Alvernia Hospital talks further about what can be done to prevent/help back pain and whether painkillers actually help. What is back pain? Back pain is suffered by 50% of the adult population annually lasting over 24 hours; it has a significant impact at home, work and with leisure activities. Often it is caused by muscle spasm but can also be due to problems like: • a disc prolapse • wear and tear of the joints in the spine e.g. facet osteoarthritis. The majority of back problems are self-limiting within 6 weeks and management is aimed at settling symptoms as fast as possible and also reducing the number of future episodes and severity. What can I do to help/prevent back pain? Years ago, we used to tell patients to rest their back and often retire to bed, but actually research shows, this was incorrect. The most important thing with managing an acute episode of back pain is to gently keep moving by doing the following to help the spine: • Gentle stretching exercises • Walking • Swimming • Cycling

Essentially, it is imperative to keep moving the joints, ligaments and muscles and prevent buildup of spasm. Yoga and Pilates type exercises are excellent to build up core stability strength and hopefully reduce future episodes of pain. Beware of lots of high impact work though e.g. road running, which is associated with exacerbating some back symptoms. Do off the shelf painkillers actually help? There has been recent evidence published that paracetamol is not useful with the treatment of back pain. It is a safe and easily available tablet that has little impact on other medications and thus is still a reasonable first choice. Other medications such as naproxen or ibuprofen, called anti-inflammatory tablets, are useful but can have an impact on other medications and should be considered after discussion with your GP if a prolonged course is required. Paracetamol and antiinflammatory tablets can be taken together. Other stronger

painkillers such as Cocodamol or Tramadol are effective and your GP can increase to morphine based tablets or even patches, which release a very low constant dose of morphine via the skin. What treatment can be carried out if the problem persists? If your back pain has not settled with the above time, gentle exercise and pain killers, then the next consideration is seeking professional help via a physiotherapist, osteopath or chiropractor. They all have their expertise and all have proven evidence of success with treating back pain. Treatments with 1 therapist should start to take effect after 3-4 sessions and if this does not occur then either different treatment or a spinal opinion may be considered. The mainstay of treatment will then range from spinal injections e.g. an epidural or facet injections to settle the inflammation of a nerve or facet joint respectively. These are successful in about 60% cases but for ongoing pain,

one may need to consider discectomy/decompression surgery or lumbar fusion surgery if all the above treatments have failed. Techniques are very advanced nowadays and although like any surgery, there are risks, they are generally small. Many procedures will utilise a microscope now and be termed “minimally-invasive”, which is a generic phrase for causing the least muscle damage to the spine, which will assist with post-operative rehabilitation. Patients often leave hospital the day or two days post-surgery and rehabilitate over 4-6 weeks after spinal surgery. With advancements in both surgery and anaesthesia, we are routinely operating on older and more complex problems as a matter of routine and patients who were previously incapacitated with pain are doing very well.

ADAM WAY MSc, FRCS(Orth) Consultant Spinal Surgeon BMI Mount Alvernia Hospital

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Members News

St Catherine's Hospice host successful business breakfast St Catherine’s Hospice hosted their annual business breakfast, giving local business supporters and businesses interested in finding out more about supporting their local hospice the chance to come together and network. Sponsored by employee benefit specialists, Unum, the breakfast was hosted at the Alexander House Hotel and Utopia Spa Hotel and treated guests to interactive networking activities, and exclusive hospice updates. The breakfast also included speeches from Giles Tomsett, Chief Executive at St Catherine's, Patricia Brayden, Medical Director at St Catherine's and inspiring guest speaker and hospice supporter, Patrick McIntosh. In a moving and honest presentation, three time cancer survivor, Patrick, shared his personal battle with bowel, skin and prostate cancer and described how he walked 222km to the South Pole whilst recovering from the illness to raise awareness and funds for charity. Dr Christopher Schenk, Chief Medical Officer at Unum UK, shared with other businesses how Unum have raised more than £23,000 for St Catherine's after nominating them as their chosen charity of the year. Laura Kelly, Corporate New Business Fundraiser at St Catherine's, said, "It was great so many local businesses came along to enjoy breakfast with us and it was a lovely chance to publicly thank them for their support, celebrate their achievements and share how they can continue to help St Catherine's in future..”

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SMEs improve business performance, Kingston Smith research shows Business performance has improved for over two thirds of small and medium-sized enterprises (SMEs) compared to three years ago with increased turnover, profitability and staff numbers. This is according to Kingston Smith’s fourth report in its SME Success series, ‘Winning New Business’, which surveyed over 1,000 SMEs, researching how they attract new business. Interestingly, areas outside of London and the South East have shown similar improvements in business performance to those within the South East. However, turnover growth differs greatly by sector, with Information & Communication, Finance & Insurance Activities and Transport & Storage leading the way. Paul Samrah, partner at Kingston Smith in Redhill comments, “This data backs up what we know about Surrey SMEs; they are thriving, growing and have a critical role to play in driving the UK economy. Much of the improved business performance can be attributed to these SMEs demonstrating tenacity, drive and

commitment to finding innovative ways of winning business.” The survey shows that face-toface networking emerged as the highest rated method of building contacts and boosting relationships. Paul comments, “This finding validates the

excellent work that Surrey Chambers of Commerce events continue to run in support of the Surrey region.” For further information or to request a copy of the report, please email Paul Samrah at psamrah@kingstonsmith.co.uk

Safe Haven service opens in Guildford Oakleaf is the location for the new Safe Haven in Guildford.

The Safe Haven will offer a safe, calm and therapeutic environment, promoting independence and recovery for people and their carers in need of support in a mental health crisis. The Guildford service builds on the success of the Aldershot Safe Haven which has been

running for more than a year and those in Camberley, Woking, Reigate and Epsom. The aims of the service are to reduce emotional and psychological distress and offer an alternative to attending A&E when people are experiencing, or at risk of escalating to, a mental health crisis. The service is a partnership between NHS Guildford and Waverley Clinical Commissioning Group; Surrey County Council; Surrey and Borders Partnership

NHS Foundation Trust, Community Connections The Welcome Project - Catalyst and Oakleaf Enterprise. Clive Stone, CEO of Oakleaf Enterprise, said: “This is a tremendous opportunity not only for Oakleaf, but for Guildford and the surrounding community. “It not only allows us to develop better relationships with other mental health professionals but also increase the provision of support offered to beneficiaries, especially those facing or in crisis situations.” Safe Haven at Oakleaf will be open 7 days per week (including Bank Holidays) from 6pm-11pm.

For further information, contact 01483 303649 or safehaven@oakleaf-enterprise.org.

Investment News

Currency Risk As everyone knows, this June sees UK citizens voting on whether or not to remain in the EU.

Family Fortunes There is nothing wrong with protecting our hard earned assets! But that is not necessarily how our populist press would see it.

The uncertainty surrounding this referendum has had a negative impact on the value of sterling in the last few months, particularly against the Euro and the US$ and has made the markets very volatile. Whilst some of our clients are waiting for the outcome before proceeding with currency transactions, many do not have this option and have to press ahead with their plans despite the exchange rate uncertainties. So how can they minimize risks on their buying power, and give them a bit more certainty? One option is the Forward Contract. This simple facility allows clients to fix the exchange rate now for completion at a future point in time up to 2 years. So how does it work? Let’s say a client needs to sell Sterling for Euros but the contract is going to take 3 months before completion.

In the meantime the Brexit debate is likely to put some pressure on the Pound, meaning that the cost of the transaction could effectively go up before the final payment date. We can agree a fixed exchange rate based on the market rate today, meaning the buying cost in Pounds remains exactly as it is now, no matter what happens to the Pound after June. Another option, for regular travellers to the Euro zone, is to use one of our PremierFX Currency Cards. This enables clients to top up a card with Euros or US$ at any time then spend the currency in any retail outlet that accepts Mastercard, once abroad, with minimal transaction charges and no currency risk. Whether you are private individual or a company, contact Premier FX to discuss reducing currency risk and international payment costs.

For more information contact Premier FX: PremierFX, Reigate Tel: 01737 735064 Email: Reigate@premierfx.com

The recent haranguing of Mr Cameron, regarding his family’s inheritances issues, is a perfect example of such misinformation, mis-enterpretation and misleading journalism. Now obviously being Prime Minister, Mr Cameron needs to consider how such things are regarded far more carefully than us mere mortals, but this rampant coverage has put an unpleasant smear across the whole subject. The fact is that we are entitled, quite legitimately to protect our assets from further tax, such as inheritance tax without any fear of exposure or humiliation. After all, most of our assets will have already been taxed once before, so the whole subject is very questionable. However as British citizens we should all carry out some reasonable financial family planning to make sure that the Chancellor does not become the largest beneficiary of any of your family’s estate. Not only do we all have access to a nil rate band of £325,000, but as of next year a further exemption relating to our houses as well. Additionally we all can take action to transfer assets over our lifetime, quite legitimately without incurring the wrath of the Revenue - in fact just as Mrs Cameron did.

Like many of us in Chambers, we have worked hard for our assets as we have grown our busineses, and therefore it would be negligent of us not to protect their value for the benefit of our families. So fear not the lazy media out to try and humiliate politicans over their financial affairs, but rather we should all look to start to plan as to how we should minimise such payments now. As for the future, well I want to see some ‘radical common sense’ around Inheritance Tax. I would like to see individuals being able to transfer their wealth into new businesses as a way of investment for the future. This I think would be a far more creative way of turning something as negative as inheritance tax, at times of family trauma, into something more long lasting and creative by allowing the previous generation to invest in the companies of the next generation. Surely passing on money for the growing of wealth and the economy is far more laudable than just the punishing of the wealthier for their success. Yours, Justin Urquhart Stewart

Call 020 7760 8777 or Email: information@7im.co.uk

www.7im.co.uk

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24 Hours with ...

24 Hours with ... Nick Wyschna - Guildford Fringe

Busy days as anticipation grows for Guildford Fringe Festival Things have stepped up about 4 gears since we took on Charlotte so there is plenty to do!

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