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WOMEN IN BUSINESS
RENT OR BUY
DESIRE FOR SUCCESS
Meet the inspiring winners from our inaugural awards – see pullout inside
The pitfalls and potential of property leasing and purchasing – see pages 6&7
Online boutique makes move to bricks and mortar with Cilfton Village store, page 8
Business bristolpost.co.uk
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09 APR 2014
TECH START-UP
LET’S GET A WRIGGLE ON
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Lawyer quits career to follow his dream and launch mobile discount voucher company – p3
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Delivering IT Security Solutions, Managed Services, Cloud Computing, Telephony and Mobile Computing.
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Voted One Of The “1000 Companies To Inspire Britain” By The Daily Telegraph.
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Wednesday, April 9, 2014
Construction
Green qualities of new business park win praise
● From left, Midas’ Jamie Harwood shows plans for Filwood Green Business Park to Green Party delegation Molly Scott-Cato, Will Duckworth and Tony Dyer
A BUSINESS park being built in the city had its environmental credentials boosted by praise from the deputy leader of the Green Party. Filwood Green Business Park is being created by Bristol City Council to kick-start the city’s status as European Green Capital in 2015, and has attracted international attention. Will Duckworth, deputy leader of the Green Party of England and Wales, paid a visit to the site along with Molly Scott-Cato, the party’s national spokesperson on finance and lead South West candidate for the European elections, and Bristol Green Party candidate Tony Dyer. Bristol-based firm Midas Construction began work last month on the business park in Knowle. Mr Duckworth said: “It is fantastic to see genuine, sustainable construction work in progress. Sustainability is at the heart of everything that is being done and everything is being considered for the whole life of the building. “There is especially interesting work being done on green jobs and up to 100 jobs are going to local people during this build. Bristol is leading the way in the UK.” The £11.6 million project is being funded by Bristol City Council, the European Regional Development Fund and the West of England Local Enterprise Partnership.
Economy
Recovery City ready to take full advantage Gavin Thompson Assistant Editor (Business) gavin.thompson@b-nm.co.uk
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RISTOL is one of the best-placed cities in the country outside London and the South East to take full advantage of the economy’s return to growth, according to new research. The Cities in Recovery report, put
together by property firm CBRE, looks at a number of factors that will affect 20 major regional UK cities, including educational levels, the growth of new businesses and the potential for economic growth following five years of recession. The findings indicate that Bristol is one of the best educated cities in the UK and is fifth behind only major university locations such as Oxford, Cambridge and Edinburgh in terms of the number of people with a high level of academic qualifications. This is significant because academ-
ic attainment is often seen as a key factor when it comes to economic growth and in terms of the number of new businesses launched each year. The report also reveals that in 2011 Bristol was second only to Manchester in terms of the number of businesses launched. More than 600 firms were set up in the city in one year. Philip Morton, pictured, head of
office agency and development at CBRE Bristol, was pleased but not surprised by the findings. He said: “It comes as no surprise that Bristol is one of the cities best set up to benefit most from the economic recovery. “All the ingredients are in place and, perhaps most of all, Bristol is a city where people want to come to live and work. One of the biggest drivers of employment across the UK is pro-
fessional services, and the report rightly highlights Bristol as a city with a large concentration of law firms and accountancy practices. As a result, we expect it to continue to benefit from the predicted growth in this sector. “There is a long way to go, but it is encouraging to see we are one of the best-placed cities to take full advantage of the improving conditions.” The report also highlighted Bristol is one of the cities that would most benefit from newfound confidence in the financial services sector, an area
Construction
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Base creations to be sold in South America A BRISTOL company that has worked on projects including Heathrow’s Terminal 5, the sky walkway over London’s 02 arena and the Mound Stand at Lord’s cricket ground is exporting its talents to South America. Base Structures, which specialises in tensile fabrics, is partnering with Brazilian subcontractor Remaster BR and its Colombian counterpart to sell its complex architectural structures. The alliance will see Base offering design, manufacture and installation of technically challenging tensile fabric structures in both countries. Remaster will act as the South American face of the British firm, while Base will offer the technical
expertise, specialist training and manufacturing, which is in short supply in the designated countries. Both Brazil and Colombia have recognised demand for these lightweight, architectural structures, which can be installed quickly to support major infrastructure through cladding, link walkways, entrance canopies or otherwise for standalone temporary venues. Andy Traynor, head of installations and overseas development, said: “The key to this relationship is the mutual values our companies share. “Remaster is a recognised innovator, offering high-quality products and great customer service, which is an excellent match for Base. We see this as a long-term strategic rela-
● The teams from Base, based in Feeder Road, Bristol, and Remaster, in Brazil, who will be working together to export Base's skills to South America tionship and look forward to building a solid Anglo-South American arm.” Base will be hoping to take technically advanced membranes to South America – materials that last longer, are more fire resistant and are self-cleaning. The membrane welding will be done at the firm’s Feeder
Road headquarters, then shipped out as and when needed. Typical projects will be in the sport and leisure sector, such as temporary venues and shelters as well as major infrastructure with entrance canopies, facade cladding, link walkways, shelters, shades and covered atriums.
Paulo Jubilut, managing director at Remaster BR, said: “We understand the demands of our marketplace and can draw on Base’s expertise and manufacturing while we gain the technical skills to be able to realise these beautiful structures in our own continent.”
www.bristolpost.co.uk/business
Wednesday, April 9, 2014
3
Getting it right
Mobile phones
● Grazziella Pinto receives her award from Debbie Staveley
bClear Communications ‘proud award sponsor’
● From left, Ben Reynhart, Rob Hall, Zamira Drew, Yasmin Amarante and Mike Jackson
Photographer: Evelyna Karbowiak BREK20140328B-013
Appy hour Discover the cheapest bars in town… with a little Wriggle Chris Campbell Business@b-nm.co.uk
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FORMER lawyer has set up a new venture helping to fill bars and restaurants in Bristol. Rob Hall, 28, has created Wriggle, a phone app that offers those looking to eat or drink out in the city a list of places to go at a discounted rate. The app, which will be available to download later this month, has already attracted 25 businesses to take part. It tells people of venues where they could eat or drink that night for a cheaper price. Bars and restaurants benefit because they can fill their premises, instead of having empty tables. Rob formed Wriggle with the help of WebStart Bristol, a hub based at Engine Shed by Temple Meads Station and which supports new start-ups. Rob, of Clifton, said: “When I was working as a lawyer, my friend and I had a hare-brained idea about dis-
count vouchers. But we found it too difficult. I later had an idea to make last-minute offers, to cut food waste for venues. Bristol has this environmental and sustainable edge and works well with independents. It’s (WebStart Bristol) been amazing. “As a young entrepreneur with no experience, I’ve had guidance and help on concepts and a team working on copyright. It’s unbelievably helpful.” Rob has three staff on board, including full-time designer Yasmin Amarante and two interns from Bristol University, where he graduated with a degree in English literature in 2009. He moved back to Bristol after working as a lawyer, which saw him based in London and Brazil. Frustrated with the profession, he explored his options and developed the app idea. It took more than two months to design and three weeks to build, with the help of a creative team and an investor. The business has been testing the concept for a month, with emails sent out to more than 700 people who have already signed up to the company’s website www.getawriggleon.com.
2014 15 HOSPITALITY
Rob Hall
Rob added that he was achieving a lifetime goal by launching the business and thought it offered a unique service. “I’ve always wanted to run my own business,” he said. “We don’t feel anyone else is doing this. There are a few others in the area, but I don’t think they are doing it in the same
time-sensitive way. We are very much focused on being successful in Bristol. People of all ages are signing up – the app may be popular with text-savvy younger people, but it is for everyone.” Rob is looking for further funding for the app – which doesn’t list national chain restaurants or bars – to develop it further. Users will be able to pay for their food and drink discounts over the app. It will be free to download by the end of April.
Get in touch Assistant Editor (Business) Gavin Thompson Call 0117 934 3336 Email gavin.thompson @b-nm.co.uk Twitter @gavin_thompson1
Writer Rupert Janisch Email business@ b-nm.co.uk Advertising Robert Rodgerson Call07828 941469 Email robert.rodgerson @b-nm.co.uk Advertising Jane Chapman Call 01179 343025 Email jane.chapman @b-nm.co.uk Advertising Shama Abokor, Regional Business Account Executive Call 0117 934 3426 Emailshama.abokor@ b-nm.co.uk
For more information & to book please contact either:
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PACKAGES
“ We are very much focused on being successful in Bristol. People of all ages are signing up – the app may be popular with text-savvy younger people, but it is for everyone.
● bClear Communications is a specialist PR and communications agency specialising in financial services, property and construction. It provides clients with measurable results delivered through a clear strategic plan of action combined with creative flair and exceptional attention to detail. As a female-run company working in such male dominated industries, it understands the exceptionally high levels that women need to deliver in order to be successful. The company is a proud sponsor of the Young Entrepreneur category in the inaugural Bristol and Bath Women in Business Awards. Managing director, Debbie Staveley, said: “bClear’s core goal is to add value to every individual and business with which it works and sponsoring the Young Entrepreneur award is yet another way of achieving this. “We hope that awards such as these will help further the careers of other young women starting out in business.” In the awards programme we printed incorrect details for bClear, which we are happy to put right. See today’s four-page pull-out for coverage of the awards.
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www.bristolpost.co.uk/business
Wednesday, April 9, 2014
Business Showcase South West
Leading the way Bristol’s skills and talent driving the 4G revolution, says top director Gavin Thompson Assistant Editor (Business) gavin.thompson@b-nm.co.uk
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NE of the top directors at mobile giant EE says Bristol has led the 4G revolution and will continue to do so, thanks to the skills and talent in the city. Gerry McQuade, pictured, chief marketing officer and board member at the Aztec West-based firm, said Bristol was the first place to get 4G – with the first transmitter in the UK just off the M32. Speaking to delegates at the Business Showcase South West, he said: “Being here gives us a pool of talented graduates better than anywhere else in the UK. “Having the universities of Bristol, Bath and UWE on our doorstep gives us access to the best young talent around. “It is not just about graduate talent, though. We also need to be in a location where we can get mature talent. There is a plethora of media, high-tech and engineering business giving us access to new blood with the
necessary experience that helps keep us successful.” Mr McQuade told the story of EE in Bristol, from its origin as Rabbit nearly 25 years ago, then Orange, before the latter’s merger with T-Mobile led to the creation of EE as the biggest player in the UK mobile market. He said UK consumers had led the way globally in mobile internet use, but businesses had not always done the same. However, Mr McQuade said the arrival of 4G was changing that, with 200,000 small businesses and 5,000 large corporate firms using 4G, which allows them to use more data more quickly and opens up mobile working. He added: “Mobility will change not just the way you contact customers, but the way you run your business.” Mr McQuade was one of several high-profile speakers at the showcase, staged at Colston Hall. Entrepreneur Ajith Jayawickrema told delegates how he founded the Las Iguanas chain in the city and has since started a Caribbean dining chain called Turtle Bay. He said: “When I told people we would be selling curried goat, they said ‘who will eat that?” But he said starting a business was
● Sara Cottrell, of High Growth Knowledge Company, at the Showcase about finding a gap in the market. “If no one else is doing it, you get to write the story,” he said. A 30 per cent stake in the new chain recently sold for £6.4 million. Earlier in the day, Karren Brady, vice-chairman of West Ham United Football Club and star of The Apprentice television show, had told del-
Pics: Barbara Evripidou BRBE20140408B-8
egates how ambition, determination and positivity were the key tools for success in business. As well as speakers there were exhibitors, with stands spread around the venue. Among them was Derek Ahmedzai, co-founder of crowdfunding platform Fundsurfer. He said: “Mostly we are looking for
people who are going to put funding projects onto the platform. We have had quite a lot of leads.” Another exhibitor was title sponsor Enterprise Rent-A-Car. Regional business sales manager, Luke LeSauteur, was full of praise for the event’s organisation, saying there was a “quality feel throughout”.
Opinion
Industrial strategy creating jobs now… and in the future Vince Cable Secretary of State for Business, Innovation and Skills
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RISTOLis an area famous for its engineering excellence, from Brunel to the aerospace industry, but it is increasingly known as a hub for high-tech and creative industries. Last Thursday, I was lucky enough to visit several of these high-growth, high-tech start-ups within the SETsquared hub and Pervasive Media Studios at Watershed. They have a brilliant story to tell – for example, SETsquared has helped its member ventures raise nearly £83 million of debt, grant and equity funding in just six years. I spend a lot of my time talking about the importance of boosting growth outside of London. I met with the West of England Local Enterprise Partnership about plans for the city and surrounding area. In reality, we have one simple objective: to create and support highly skilled, long-term jobs like those at Redcliffe Precision Ltd – that has benefited from finance from the LEP’s Growth Fund – and within Bristol’s growing Temple Quarter. For too long, the engine of Britain’s economy have been the bankers who led us into disaster. Some areas have been marginalised in obtaining finance for investment. Getting the country’s finances in order still means that we simply can’t do that anymore. That’s where the industrial strategy that I’ve been championing in Government comes in. Our industrial strategy is a long-term partnership between Government and business, which plans beyond the usual five-year political timetable. We aim to show the UK is open for business, and the right place for companies to build factories or research centres.
● Vince Cable with Rob Laird (ops director), during his visit to Redcliffe Precision Jon Kent The march of technology means new opportunities for new and expanding businesses, including those in Bristol. We are supporting ‘eight great technologies’ like new advanced material and robotics (such as Bristol Robotics Lab or OC Robotics), where the UK could take a world lead. Potentially these mean we will be world leaders in technology that helps us do everything from stopping people rejecting donated organs to creating food replicators like on Star Trek. If we want to create these jobs and support these technologies we need to make sure that companies can get access to the finances they need to build new factories, export to new countries and employ more people. The Government is doing that, by putting pressure on the banks to lend more, creating our own British Business Bank, and providing grants through the Regional Growth Fund and the Advanced Manufacturing Supply Chain initiative. Our industrial strategy is helping companies across Bristol create jobs now, and it is laying the foundations to keep creating jobs like this in future so that young people can have long, exciting and rewarding careers.
www.bristolpost.co.uk/business
Wednesday, April 9, 2014
Catering
5
Survey
Half of firms say EU has a positive effect
● Fred and Anna in The Mango Hub Indian railway station-inspired 'break-out zone’; above, one of the dishes being cooked
Curry hurry Major expansion after just one year for street food firm
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FATHER and daughter team who started a south Indian street food business from the family kitchen a year ago are celebrating their first anniversary with a major expansion. Trained chef Fred Balakrishna and his stepdaughter Anna Smith, who run The Mango Hub, have been currying favour to such an extent that they have had to move into a far bigger premises. The pair now create their authentic vegetarian Keralan cuisine, which is going down a storm at markets across the region, from a 1,300 sq ft production kitchen on Bedminster Trading Estate, with plans for a Mango Masala cookery school in the pipeline. Sourcing fruit and vegetables from Bristol wholesale grocery market and authentic ingredients from the Sweetmart, Easton, the business was borne out of Fred’s passion for recreating the food he grew up with, combined with Congresbury-born and bred Anna’s love for south Indian
food. Anna, aged 24, a professional musicianship graduate who swapped the piano for the pakora as an alternative outlet for her creativity, said they were thrilled that business was booming. “There has been a surge in the popularity of street food in the UK, and the beauty of our food is that it isn’t the stereotypical cuisine you get in the tourist traps of Mumbai or Goa,” she said. “It is based on authentic recipes from the south Indian region of Kerala, with many of our spices sourced from the local mills of Kozikhode, formerly Calicut, where Fred and his mum’s family come from. “A huge fan of south Indian food myself, I bring my own Bristolian touch to the mix.” Helped out by Anna’s mum, Rebecca, and gran, Jo, who makes mango chutneys for the business, Fred and Anna can be found selling everything from vegetarian and mainly gluten-free curries and bondas to bhajis and dips at regional
“ There has been a surge in the popularity of street food in the UK, and the beauty of our food is that it isn’t the stereotypical cuisine you get in the tourist traps of Mumbai or Goa Anna Smith
markets including Clevedon, Bath, Brent Knoll, Bridgwater, Frome and various markets in Bristol, which they hope to build on this year. In terms of The Mango Hub’s heritage, Fred, aged 54, was classically trained in European and British cuisine 15 years ago, going on to work in UK hotels, restaurants and pubs,
with a spell catering for players and fans at Worcestershire County Cricket Club. He spent a year working in pastry and fine dining in London, going on to specialise in contract catering for 11 years, with clients including Hinkley Point power station – catering for around 2,000 people at peak times – and Royal Mail. The grandfather-of-three was also selected to be a volunteer in the kitchens at the London 2012 Olympics, feeding up to 34,000 people a day. Anna, meanwhile, has been singing and studying music for over a decade and studied professional musicianship at the University of Southampton. After completing her degree, however, she was unsure what she wanted to do. Starting her own cake stall called Earth Cakes, she became more interested in the food and catering industry, jumping at the chance to get involved with her stepdad’s dream last April.
● BUSINESSES in the West of England believe being in Europe has a positive effect. That is according to a new survey from Business West, the umbrella organisation for the chambers of commerce in the region. In the survey of 600 businesses, 50 per cent said Britain’s EU membership was positive, compared with 16 per cent who said it was negative. The biggest benefit was ease of access to the larger customer base, listed by 45 per cent, while regulations and red tape were the biggest drawback (49 per cent). More than a third of businesses in the region were also concerned about the uncertainty of the UK’s future membership, showing that there needed to be more clarity. Phil Smith, pictured, managing director of Business West, said: “Businesses want to stay in the EU, but they don’t want to stay at all costs. Red tape is stifling them and reform is needed to address countless regulatory burdens that act as a barrier to business growth. “The business community feels our politicians are letting them down by playing political football with a referendum, rather than getting down to business. We need a clear message from our political leaders about the possible renegotiated terms of membership, rather than constant talk of whether the UK should be ‘in or out’.”
Community
Neighbourly connects with palace investors ● SOCIAL network Neighbourly, which connects community projects with companies that want to make a difference, pitched before investors at St James’ Palace. The event was spearheaded by the Duke of York, who recently visited the SETSquared incubator at the Engine Shed, where Neighbourly is based. SetSquared director, Nick Sturge, said the success of its companies in the region (two from the Bath centre also took part) was a testament to the area’s innovation and entrepreneurialism.
50 jobs as growing Kainos opens city office tech professional pool to draw on. “We look forward to bringing our unique workplace culture to Bristol, as well as our community initiatives around digital education.” He noted the city’s transport infrastructure, close to the motorway network, that gave easy access to the Midlands, the South West regions and Wales. The company also cited Bristol’s strong support for business, as well its strength as a source of graduate talent with two first-class local universities, which is fostering a growing community of high-tech firms and digital agencies.
Professor Joe McGeehan, chair of Invest Bristol & Bath, which helped cement the opening of the new centre, said: “We are looking forward to welcoming the Kainos team to Bristol and supporting them in its ambitious growth plan. “As a proven global technology leader, we are hopeful Kainos will make great contributions to our city and local economy, as well as to the established Bristol digital community.” Following on from the digital solutions firm’s arrival, Kainos will also be hosting its summer AppCamp in the city this year. The camp is a free event where undergraduates in computing or
related subjects are trained to develop apps for Apple iPhones or iPads by Kainos software developers over an eight-week programme. Chief technology officer, Tom Gray, said: “The build-up to each AppCamp is tremendously exciting, and this year is particularly special because of the additional event in Bristol, where Kainos has recently opened a new office. “We look forward to seeing what emerges from this summer’s activities.” The camp starts on June 30 and interested students can apply for a place by visiting www.appcamp.co.uk/sign-up/ or email to appcamp@kainos.com.
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A TECHNOLOGY company that provides IT systems to help its customers work smarter is moving to Bristol and creating 50 jobs. Kainos, which works mostly in healthcare, financial services and the public sector markets, is moving into the Orega Business Centre in Victoria Street, the heart of the city’s professional services district. Managing director, Brendan Mooney, said: “Our move to Bristol reflects our growth, plus our commitment to our UK customers. “Bristol is a central, well-serviced and business-friendly hub for us, with a great graduate and
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www.bristolpost.co.uk/business
Wednesday, April 9, 2014
Focus on start-ups | Sponsored by THEME SPONSOR’S NAME HERE.
Property leasing and purchasing special Expert eye Vicci Morris Senior surveyor, GVA Vicci.morris@gva.co.uk www.gva.co.uk
Buy or lease? The benefits and pitfalls
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OST businesses at some point are faced with the dilemma of deciding whether to lease or purchase commercial premises. While every business is different, there are a few common factors that should be taken into consideration when evaluating such a decision. Many regard leasing accommodation as being cheaper initially than purchasing. However, you need to remember that commercial property is not for the short term and that obligations arising during a lease period can sometimes lead to unplanned costs, resulting in financial liabilities being higher than anticipated. When purchasing a property asset you will have a good idea what your long-term fixed costs will be, such as a fixed-rate mortgage. In contrast, when leasing, the market will dictate your new rent, generally every five years. With the large outlays of cash required to purchase, the opportunity cost of that money needs to be considered. What return would you expect to receive on that money compared with investing back into your business or other investments? Furthermore, the growth phase of a business should be a major consideration in making the lease versus purchase decision. If the business is relatively new and/or in a high growth mode, leasing may allow more flexibility so that capital can be used elsewhere and not tied up in assets. However, if your company is mature and stable, purchasing space is a great way to meet your future space needs, particularly in a specialist industry such as manufacturing, where improvements to the business, including unique fit-outs and specialised machinery, are more beneficial to own. The answer to leasing or buying commercial space is not always a simple one. It is important to decide on the specific requirements that will meet your business needs and objectives, as well as economic and social conditions, in close liaison with your financial, legal, taxation and business advisers. While the decision may seem overwhelming, there is help. The first step is to receive advice and assistance from a commercial property professional such as GVA, which knows the property market and can understand your business plan, providing you with the required outcome and decision to help grow your business.
KEY DECISION – WHAT TO As more firms look either to move office or move into their first premises, Rupert Janisch looks at the benefits and the pitfalls of the various options.
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OME of the South West’s biggest businesses started life as tiny operations, nuggets of inspiration run out of home offices, garage workshops or garden sheds. And every business that starts from humble beginnings and is serious about major growth will at some point reach the landmark stage of moving into an office. It’s an exciting time for any business and it’s a sign to present and potential employees, not to mention customers and suppliers, that the future is getting serious. Even for those companies that are more established and are already
“ Seeking professional advice at an early stage can help to avoid many of the most common pitfalls, and eliminate costly mistakes which may come back to bite you at a later date. Paul Williams
occupying premises, office moves will pose a variety of questions to answer and considerations to be taken into account. Bristol’s size, location and transport links make the city highly accessible for employees and visitors – to a point, at least, as the congested heart of the city remains a problem issue for those wanting to make the most of a truly central location. And with new commercial property springing up at developments like 66 Queen Square, 2 Glass Wharf and at Finzels Reach, as well as the renewal of areas such as Stokes Croft, there are many new opportunities available for a variety of budgets. One of the main decisions will be whether to lease or rent, and each option brings with it many pros and cons. Paul Williams, head of Bruton Knowles in Bristol, has some advice to business owners looking to lease their first premises – a step he likens to a first day at school, or buying a new house. Firstly, he said, be aware of the costs – not just the rent to be paid, but also business rates, outfitting costs, partitioning, legal fees and moving costs. Secondly, give yourself enough
time for the moving project from start to finish. He said: “Experience shows that people generally underestimate how long it is going to take them to find the right premises and move in. Ideally you should allow a minimum of six months from starting the search to actually receiving the keys, but in many cases anything up to 12 months is more realistic, depending on how specific your requirements are.”
Bear in mind also the inflexibility of leasing, with many landlords looking for a minimum contract of anywhere between a year and three years, during which point the business will be liable for the rent. Mr Williams, pictured, said: “The moral of the story is ‘look before you leap’, or if you prefer, ‘act in haste, repent at leisure’. “Seeking professional advice at an early stage can help to avoid
many of the most common pitfalls, and eliminate costly mistakes which may come back to bite you at a later date. “If things go wrong, the wording of the lease is the only thing which a court will have regard to if called upon to settle a dispute, so it’s best to get it right, however friendly your relations with the landlord might appear to be at the outset.” Purchasing property brings with it similarly complex considerations. Advantages to purchasing include the freedom from rental increases, potential capital gains
www.bristolpost.co.uk/business
Wednesday, April 9, 2014
7
CONSIDER BEFORE OFFICE MOVE
● Green energy is a growing requirement for businesses
Landlords must get to work on energy efficiency changes ● FOR landlords who are leasing commercial property energy efficiency is a growing issue. And if it isn’t already, it should be. By 2018, it will be illegal to lease a property that doesn’t receive a certain rating on its Energy Performance Certificate. Ben Preece, pictured, senior legal adviser at city firm Gregg Latchams, said: “There is no doubt that there is both a global and a national movement towards reducing the impact of carbon on the environment. It has resulted in ambitious targets being set at a national level. “The legislators have decided to focus on key areas to encourage fundamental changes. Buildings are thought to account for approximately 40 per cent of the UK’s carbon emissions – too big an issue to ignore and the legislators have acted accordingly. “On the one hand, there are carrots, like the Green Deal and
loss of capital through the reducing value of their office. Other considerations for all companies moving into new offices include: location, as in whether to go out-of-town with good communications or stay in a city centre for convenience and brand awareness; serviced offices or empty shell premises; size and constitution; financing, and many more. Despite the risks and complexities, both in the rental market and for those looking to buy, the improving economy means that more and more companies are looking to move. Research from global real estate
firm Jones Lang Lasalle predicts increasing industrial property demand this year, with take-up across the UK set to exceed 2013 levels. Bristol is expected to mirror this national trend with increasing occupier confidence and demand, which puts the city in a strong position to lead the economic recovery. JLL predicts a return to rental growth over the next four years and strong investor activity in the UK market – a trend which is already emerging in Bristol, where incentives to entice tenants are not as prevalent as during the recession and demand from investors is increasing.
This is partly being driven by an active SME market, which accounts for 85 per cent of industrial transactions in the city. At the end of 2013, availability of units between 1,000 and 99,999 sq ft was 17 per cent lower than a year before. Similarly, in the Greater Bristol area, the number of vacant units stands at eight per cent, down from 11 per cent 18 months ago. Meanwhile the Office Agents Society, made up of representatives from Bristol’s leading surveying practices, has released the office take-up figures for Bristol for the first
other incentives and subsidies, to encourage people to spend money to change their buildings. “However, there are also sticks which can be found in the Energy Act 2011, which basically says that you have to achieve a certain EPC rating. Until you do, you cannot legally let your property. There have been indications that this level will be an E rating, and around a quarter of registered properties currently fall below this category. “There are likely to be logistic issues with enforcement, as the regulations will be enforced by local authorities who are already stretched. But with a maximum penalty of £5,000 for residential landlords and no limit for commercial landlords, it’s important that landlords start preparing for these changes now.”
quarter of 2014. The results show an increase in the number of transactions in both city centre and out-of-town markets, although the total take-up is marginally down on the same period in 2013. In Bristol city centre, there were 31 transactions totalling 115,722 sq ft in the first quarter of 2014, compared to 27 transactions totalling 145,555 sq ft between January and March last year. In the out-of-town market, quarter one take-up increased by 32 per cent to 108,241 sq ft with 18 transactions, compared with 13 transactions totalling 81,650 sq ft last year.
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when the property increases in value, tax deductible interest payments, potential for subletting and remortgaging, as well as freedom to make the premises your own. On the flip side, businesses wanting to buy their own premises will need substantial deposits which could be used for investment elsewhere in the business and they will be responsible for their property’s upkeep and vulnerable to mortgage payment increases. And with uncertainty over the future of the property market, the possibility of a bubble bursting could leave companies at risk of a major
Case study
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www.bristolpost.co.uk/business
Wednesday, April 9, 2014
Up and coming
Movers & shake-ups The latest appointments news. Send your news to business@b-nm.co.uk
Retail
The real deal Rachel pops up with her first store after online success Rupert Janisch Business@b-nm.co.uk
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HE owner of a successful online boutique has opened a shop in Clifton Village. Objets de Desir has been running as a trading website since last summer, since when owner Rachel Drake has experimented with pop-up shops in Quakers Friars and Cabot Circus. Following their success, Rachel decided to start her first permanent shop and the new boutique opened in The Arcade in Clifton last week. Objets de Desir sells jewellery, art, homeware, fashion items and accessories, designed by up-and-coming, emerging artists. Rachel, who is 27 and moved to Bristol with her husband from London more than three years ago, comes from a creative family and her mother was a fashion designer. She said: “Objets de Desir gave me the opportunity to not only source beautiful, handmade products, but to also curate them in an online boutique. “Bristol seemed like a great place to start this, as it is such a creative environment and also seems to be very good at promoting new businesses. “Objets de Desir was originally started as an online boutique, but through the experience and success of the previous pop-ups I have done I have decided to turn it into a physical shop, so it will now be both online and in a shop, too.” The new store is self-funded, using the proceeds of the pop-up shop in Cabot Circus before Christmas last year, which was in turn funded by a loan from the Prince’s Trust Enterprise Programme. Rachel said: “I am very excited
“ Bristol seemed
like a great place to start this, as it is such a creative environment and also seems to be very good at promoting new businesses. Rachel Drake
about opening the new shop, but of course slightly nervous, too. I think some nerves are a good thing, though, as it spurs you on to make it a success. “I am lucky that I have had some experience through the pop-ups I have done and I have a bit of an insight into how it works now and how long things take to organise.” Like many owner-managers, Rachel said she had learned a lot about running a business and had visions of taking the business wider. She said: “The hardest part has been doing everything by myself – I have learned so much in the last year, about everything from tax returns to search engine optimisation.
● Some of the items on sale “But it’s so rewarding to see the hard work finally paying off. If in five years’ time I could have a successful website and shop, that would be amazing. The dream scenario would be to open another shop in London, too.”
Learning
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Award for college ‘tech geniuses’ THE library service at Weston College has won a national award for its level of technical support. The Council for Learning Services in College (ColRiC) judges chose Weston College’s LibraryPlus-based and cost-free TechGenius service for its service interaction. Technology and library team leader Jon Hofgartner said: “This is brilliant news. TechGenius was set up by Learning Technologist Louise Hutson with Foundation Degree Computing students gaining work experience by helping others with computer, tablet, laptop, PC and phone glitches. “Around eight TechGeniuses rotate campuses offering general technical advice – from help setting up new phones to support with any computing device.” Chair of CoLRiC Margaret Phillips
said: “CoLRiC launched these awards as we are convinced there are many unsung heroes in libraries making a truly magnificent difference to learners. We have been overwhelmed by the number and quality of the entries and the commitment given by staff to the service.” In the last three years the college’s library service has invested over £1 million and now has 22 staff. Spokeswoman Claire Bushell said: “Three years ago the college started from scratch to create state-of-the-art learning facilities on all campuses which are vibrant, office-free spaces where students study, discuss, think and create in a relaxed and welcoming environment. “It’s wonderful our students are integral to winning this national award. The feedback we get from library users is incredibly positive.”
● Back row, Weston College staff Claire Bushell, Louise Hutson and Jon Hofgartner; front row, students Klaudia Pedzimaz and Ryan Prescott
● BURGES Salmon partner and banking and transport sector specialist, Sandra Forbes, is leaving to be group general counsel of National Express and its company secretary. Sandra joined the firm in 1991 and has been a partner since 1996. She established its banking practice and is head of the corporate and financial institutions department. Head of banking, Richard Leeming, said: “We will miss working with Sandra, but congratulate her on this fantastic opportunity. It was Sandra's foresight and energy in the early 1990s which established our successful banking practice. We thank her for that very significant contribution.”
● Deloitte has appointed Martyn Gregory as practice senior partner for the firm in the South West and Wales. Martyn, above, is an experienced corporate finance partner who has led Deloitte’s corporate finance advisory business in the South West and Wales for a decade, is a member of the UK Advisory Corporate Finance Executive and has played a key role in the growth of the business as part of the senior management team. Martyn said: “I am absolutely delighted to be appointed as the practice senior partner, leading Deloitte in the South West and Wales.” ● Commercial property consultant Knight Frank has expanded its property asset management department in Bristol to meet growing demand in the South West. Jo Crofts, pictured, formerly an associate in the office agency, has joined the team that manages key industrial, office and retail buildings from Swindon to Taunton and all around Bristol on behalf of landlords. David ‘Dai’ Williams, who heads the department in Bristol, said: “As the impact of the recession begins to ease, there is a growing demand for skilled professional management of commercial property in the region. This expansion of our team will enable us to satisfy this increased requirement.”