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STAR TECH
FAB LAB
CELEBRATING SUCCESS
City firms showing off their wares at VentureFest – p2&3
Couple’s analytics services business booming – page 5
We reveal the Post Business Awards finalists – pages 8&9
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MAY 2015
BIG INTERVIEW
GIVING CREDIT WHERE IT’S DUE Meet the technology guru at the Bristol-based global leader in mobile payments – pages 6&7
A greener Bristol is a greater west. EPB-E01-S3
#GreaterWest
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Planning
Alder King key in overcoming sticky wicket ● THE decision to approve new floodlights for Gloucestershire County Cricket Club is being hailed as a win for a firm of planning consultants. Alder King helped the club secure unanimous approval from Bristol City Council for permanent floodlights at the County Ground in face of opposition from some residents in the Bishopston area. The firm worked with the club, the England and Wales Cricket Board, lighting specialists and the local community to address the objections raised. The application process included minor changes following consultation with the community in relation to floodlight design and start times of domestic games. Alder King’s head of planning Simon Fitton said: “We are delighted that the club has been successful in its application to secure floodlights at the Bristol County Ground.
“Allowing the floodlights to go ahead has helped secure the future of international cricket in Bristol for the foreseeable future and, critically, ensures that Bristol will be able to host World Cup Cricket in 2019.” Club chief executive Will Brown, pictured, had previously warned failure to get the floodlights could cost the club international fixtures and could ultimately force it to leave Bristol. Following the decision, he said: “We are delighted that the committee has come to this decision as it finally allows us to realise our ambitions to continue staging international cricket in Bristol. “The club will now work towards installing the lights ahead of the start of the 2016 season and looks forward to hosting four Cricket World Cup matches in Bristol 2019.”
Wednesday, May 13, 2015
Tech
STAR TECH BRISTOL’S BEST Oh}pu \ovtwzvu
Assistant Editor (Business) gavin.thompson@b-nm.co.uk
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ROM the world’s biggest aeroplane manufacturer to a new business that sells spare capacity in your computer to animators, the best tech Bristol has to offer will be on show next month. The line-up for VentureFest announced today backs up Bristol’s claim to be the UK’s biggest tech hub outside of London. Headline speakers will be Scott Wilcox, director of technology for South by Southwest, a huge festival which takes place in Texas each year, and local success Col Needham. Col is the founder of IMDb (Internet Movie Database), the go-to website for information about films and film stars. He said: “Bristol & Bath has an outstanding and innovative start-up culture which is one of the reasons the IMDb UK office is located in Bristol. “I’m looking forward to learning more about other exciting companies in the region and sharing my own experiences over the last 25 years.” Airbus is one of the sponsors of the show, which is returning after a year’s break. Katherine Bennett, vice president public affairs at Airbus, said: “Innovation, technology and entrepreneurship are at the heart of our business so being a part of something that celebrates both entrepreneurs and innovators is really important to us.” Other big names exhibiting include Renishaw and GKN Aerospace, But the real stars of the show are the smaller tech firms. Ben Trewhella, managing director of Opposable Games and founder of SouthWestVR, which is exhibiting, said: “We are at the beginning of a hugely exciting time in technology; virtual reality and augmented reality games, experiences and applications are about to explode like the web, social and mobile before them. “It’s incredibly exciting that so many developers and engineers are coming together to network and showcase at VentureFest Bristol & Bath.” Venturer, the collaborative project to test driverless cars in Bristol, will
be there too. Dr John McCarthy of Atkins, one of the businesses involved in the project, said: “Bristol already has a fantastic reputation as a test-bed for new technologies so we are delighted to be able to explore and trial the feasibility of driverless cars here. “My presentation, which is part of the High Tech Panel Session chaired by Innovate UK, will look at how changes in people’s behaviours and new technology could shape our future cities and the way we approach transport in years to come.” One of the most exciting areas will be the start-up village. This year the line up this year includes: ● Habu, an innovative space man-
agement and room booking platform. ● Fundsurfer which helps projects and companies find finance, offer a variety of funding options alongside rewards and donation-based crowdfunding its own platform. ● 500 More are digital health consultants developing mobile apps for health and wellbeing. They created of Walking Safari, an app designed to encourage people to walk more. ● Jamp Technology is developing a portable electronics device for musical instruments which uses digital effects such to modify sound. ● Zoetrope is an Internet of Things consulting and prototyping company.
“ Bristol already has a fantastic reputation as a test-bed for new technologies so we are delighted to be able to explore and trial the feasibility of driverless cars here. Dr John McCarthy
Finance
Curtis Banks lists on stock exchange
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A BRISTOL pensions provider has listed on the stock exchange, in the most high profile local float since the recession. Curtis Banks, based at Temple Quay, listed on the AIM index run by the London Stock Exchange on Friday at an initial price of 190p per share. Yesterday that had risen to 206.5p. Managing director Rupert Banks said: “The initial public offering has been a great success, both in terms of recognising the achievements of the business in such a short space of time and in terms of providing capital for
the next stage of our growth curve. “We have a pretty senior group of new institutional investors and equally a group of loyal employees who now share in the ownership of the business. “We feel that it is a Bristol success story and one that has really only just started its journey.” The company has raised £7.5 million from the placing of 3.9 million new ordinary shares which it will use to fund more acquisitions to grow the business. It has already grown from a standing start five years ago to become the
third largest dedicated full SIPP provider in the UK. The shares sold represent 25 per cent of the company ownership. Curtis Banks administers self-invested pension products (SIPPs) at the higher end of the market, aimed at those with pension pots around the £500,000 or above mark. It employs more than 100 people in its Bristol HQ and the same again spread across offices in Dundee and Market Harborough. Chairman Chris Banks was given the honour of opening the stock exchange on the first day of shares
● Rupert Banks opens the London Stock Exchange trading in the company. Rupert added: “The directors would like to thank all of those who
have made this possible. We have a very talented staff and a supportive group of local advisers.”
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Wednesday, May 13, 2015
SHOW TALENT AT FESTIVAL ● Visitors will be able to experience virtual reality at VentureFest
● Venturer, the collaborative project to test driverless cars in Bristol, will be at the ventureFest; below, a previous event at the Engine Shed
● Agilics makes build-your-own robot kits developed for education and was the star of a recent robotics trade mission to Silicon Valley. ● Blispa creates beacon driven experiences for museums, events and festivals. ● Furu Furu is a mobile-first fashion and social networking app which allows you to search for clothing from your favourite brands or trending styles and connects you with stores and brands based on tastes, location and social circles. ● YellowDog releases the spare processing power from people’s computers, giving computer users money for nothing. This is then offered to animation studios giving
them their own personal supercomputer to improve how they render animations. ● VRgo makes a new kind of motion controller for virtual reality, called VRgo. It is a self righting stool that tilts and turns in 360 degrees. This motion is picked up with an embedded sensor that sends the data wirelessly to the PC. so lean forward on the chair and you move forward in the virtual space. ● Sourceabl online advertising platform connecting women running small businesses to B2B providers. ● TimeTag.tv helps people find content in video by automatically tagging the content and providing search tools as well as coding, se-
curity and content delivery services to allow companies to manage their video channels. One aim of the event is to help such companies find investors. Tom Fox, manager in KPMG’s technology team in Bristol, said: “We have an enormously successful and innovative tech sector in the South West but at the moment the significant talent present in the region isn’t matched by the availability of financial investment for start-ups. “VentureFest has a pivotal role to play in linking our region’s entrepreneurs with potential investors, giving them the opportunity to showcase what they can do and se-
cure backing. “It also connects our region’s largest and smallest businesses. Big corporates are looking for new ways to keep up with the changing business environment and creating alliances with start-ups can help them to do that. By linking with our region’s youngest companies, established blue chips can access a new entrepreneurial edge and benefit from the talent and vision these businesses have.” Business West will be on hand promoting its support services. Managing director Phil Smith said: “In conjunction with Innovate UK, we’ve organised a jam-packed business support programme which will provide an overview of the fantastic cross-sector support available to companies in the region. “From a range of 20-minute drop-in sessions on business support to Landscape Talks focusing on four key sectors, we hope these will act as a useful resource for companies based here in Bristol and Bath as well as those looking to start or move their operation to the region.” The return of the event has in part come about due to Bristol 2015, the organisation behind the European Green Capital programme of events, with a green tech tinge this time. Andrew Garrard, chairman of Bristol 2015, said: “As a world centre for innovation we’re really excited to have the opportunity to bring together Bristol and Bath’s leading businesses, entrepreneurs and thought leaders and showcase their cutting-edge thinking and approach to investors from across the region, country and from around the world. “In Bristol’s year as European Green Capital, VentureFest will also showcase the best green technology innovations from Europe and highlight the environmental contribution made by the West of England.” Matthew Cross, head of inward investment at Invest Bristol & Bath, summed up: “VentureFest will bring together industries ranging from high-tech to creative and digital media, robotics and aerospace, working collaboratively to drive innovation. This is why many major global players are increasingly setting up operations in the Bristol and Bath region.”
● VentureFest takes place at the Engine Shed and Passenger Shed in Bristol on Tuesday, June 9
Insurance
Upbeat Jelf set to expand after positive results ladies Road in Clifton and 225 in its Chipping Sodbury HQ. “We are looking to expand our business and take up new premises,” said Alex, pictured. He said the firm would keep its Chipping Sodbury base but hoped to find new Bristol premises, adding that the move didn’t relate to residents’ parking, which has been introduced in Clifton recently and has spurred some businesses to move away. Alex said the firm’s growth was down to customer service. “We as a business having been
working hard as we have grown to ensure we stay focussed on our clients’ needs,” he said. “It’s a cliche I know but it has delivered good results.” While acquisitions have played a key part in the firm’s growth, Alex points to 4.5 per cent organic growth to back up his customer-focussed approach. Profits before tax and other deductions in the insurance business rose from £4.4 million to £5.3
million, an 18 per cent lift. While the employee benefits arm saw earnings rise 27 per cent from£1.4 million to £1.7 million. Outside of Bristol the firm employs another 70 people in the South West and more in 37 offices across the UK. The business, which was founded in 1989 by Bristolian Chris Jelf, advises clients on insurance, employee benefits, health insurance and financial planning.
Bristolian Sajid made Business Secretary ● A BRISTOLIAN has been given the business brief in the new Tory Cabinet following last week’s General Election. Sajid Javid replaces Vince Cable as Secretary of State for Business and although he is the MP for Bromsgrove, he is Bristol raised and his mum still lives in the city. His family lived in Stapleton Road and Sajid went to Downend School then Filton College. Sajid, pictured, is a known Eurosceptic, which may concern some big businesses, but his views on cutting red tape will please most. Shortly after his appointment he told the Today programme that he believed passionately in free enterprise. “What we do know is that sometimes when government creates new rules and regulations they make things worse not better,” he said. “We are clearly on the side of business and as a government we can help make a better environment for business because it’s those businesses by and large that create jobs.” He said his priority would be supporting job creation.
Property
ADP joins tenants at waterside offices ● ANOTHER firm has moved into waterside office development Templeback. ADP, a global human capital management solutions provider, has become the fourth new tenant in the past six months. The firm plans to expand its research and development arm within the building and is taking 8,000 sq ft on the first floor of the building on a five-year lease. Phil White, head of property at ADP, said: “The new facilities will allow us to further grow the business and attract the highest calibre of staff in the area.” It follows lettings to Mott MacDonald, Momentum Financial and Colliers CRE at the building which is asset managed by Cube Real Estate on behalf of its owner, Benson Elliot. The office is being marketed by DTZ and Alder King. The office is also home to NFU Mutual.
Get in touch Assistant Editor (Business) Gavin Thompson Call 0117 934 3336 Email gavin.thompson @b-nm.co.uk Twitter @gavin_thompson1 Advertising Robert Rodgerson Call07584 003229 Email robert.rodgerson @b-nm.co.uk Advertising Jane Chapman Call 01179 343025 Email jane.chapman @b-nm.co.uk
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INSURANCE firm Jelf hopes to move to bigger premises in Bristol as it continues to grow. The AIM-listed firm has posted an 11 per cent rise in revenues in its annual results, from £39.3 million to £43.7 million. Group chief executive Alex Alway told the Post: “We are in a very strong place. “We are seeing across the board things in the general economy are going well and that is translating into better results for us.” He said the firm employed 340 people around Bristol, 115 in White-
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Aerospace
Rolls-Royce to cut another 1,300 jobs ● ENGINE maker Rolls-Royce has already cut 1,300 jobs and will press on with its plan to double that figure despite an improving order book. Many of those cuts are understood to have come in Bristol, where the firm employs 3,500 people at its Patchway plant, and Derby. The firm has kept tight-lipped about where cuts would be made since its initial announcement last November. At the time trade unions warned it was in danger of jeopardising the skills base in a core sector. However the firm responded with the launch of an advanced manufacturing facility in Bristol which will be at the forefront of developing carbon fibre composite fan blades. While the 120 jobs created are dwarfed by the cuts, it showed the firm is serious about its future in the city. However in the short term it continues to be in for a bumpy ride. Despite announcing its biggest ever order - 50 Trent 900 engines to power Emirates’ Airbus A380 super jumbos - currency fluctuations look set to cost the manufacturer. Its interim management statement said that compared with 2014, average rates for sterling have weakened against the US dollar but strengthened against the euro and the Norwegian kroner. If rates stay around this level it will wipe £350 million off its projected earnings. The statement confirmed the company is pushing ahead with its cuts in the aerospace division and warned it was also “driving further cost reduction programmes” in its land and sea division too, which supplies engines for naval vessels. Trade union Unite recently warned of industrial action if the firm refused to rule out compulsory redundancies. A new chief executive, Warren East, takes over the company in July following the departure of retiring John Rishton.
Learndirect takes on three office floors
● From left, Steve Hulbert, Sean Atkins, Jayne Caple and Rob Abbott
Tailor-made Team find a better marketing method Oh}pu \ovtwzvu
Assistant Editor (Business) gavin.thompson@b-nm.co.uk
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OUR former directors of magazine publishing business Future have set up their own business together. Jayne Caple, Rob Abbott, Steve Hulbert and Sean Atkins have launched a ‘boutique’ content marketing agency in Bristol. Vivid aims to offer clients bespoke marketing strategies and sees its small size as an advantage, meaning it can be quick on its feet and combine that with the experience of its team. “We no longer believe in the traditional agency model,” said managing director Jayne. “Big agencies are big bureaucracies, rigid in the face of an ever-evolving media landscape “We believe traditional time-tested
Service the top priority as pair ‘plug the gap’
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Property
Marketing
Finance
TWO friends with more than 30 years’ experience as accountants between them have taken the big step of launching their own firm. Danny Stevens, 30, and Alyson Davies, 39, pictured, have opened Pure Professionals in Alma Road, Clifton. The pair, who have worked for various firms in the city, left their previous jobs to set up their own practice. Danny says the firm has a clear vision. “From previous experience, we felt businesses weren’t getting the support and service they always de-
Wednesday, May 13, 2015
served from some of the larger accountancy firms, so we have launched to try to plug this gap,” he said. “Pure Professionals is committed to adding value, rather than treating businesses as cash cows. “For us, the days of billing by the hour and the accountant being a necessary evil are over. “Accountants that don’t adapt to advances in technology and the future economy will get punished, which is why we are determined to be part of shaping the future of professional services.”
methods can get in the way of modern customer engagement, so we decided to find a better way.” Through custom magazines, mobile marketing, video production, tablet and online publications, websites and email, Vivid aims to takes brand ideas from the strategy and concept stage to launch and then evaluation quickly and effectively. And its approach to looks to be paying off, with Vivid already winning four clients – most recently provide content and the design contract for London based home improvement experts Opun.co.uk. Commercial director Steve said: “Our boutique content marketing approach brought a level of passion and helped us establish a real connection with the Opun.co.uk senior team. “The genuinely bespoke thinking that was applied to Opun’s marketing brief demonstrated just how individual each client need is. We listened – really listened – and formulated a unique strategy which the
board clearly appreciated.” The team have decades of experience between them, and working together in their previous roles have delivered content solutions for a roster of international blue chip brands including Sony, Tesco, O2, Virgin, Fender Guitars and Autotrader, as well as membership organisations including the PFA, Musicians’ Union, and GMB union. Career achievements include producing branded content that has been recognised at the International Content Marketing and DMA awards, as well as the Digital Impact Awards. Content director Sean said: “We’re incredibly excited to be able to offer clients the kind of personal service and world class content expertise their brands deserve. “Applying agile thinking to strategy, creation, delivery and results is the difference between good and brilliant content. Vivid are going back to the roots of brilliant content marketing.”
● TRAINING firm Learndirect has taken three office floors at Monarch House meaning the property in Bristol’s Queen Charlotte Street is now full. The 1960s office building close to Queen Square and the Floating Harbour, has been refurbished to incorporate air conditioning. Learndirect has acquired the floors, totalling 8,530 sq ft, on a 10-year lease at £12 per sq ft. Richard Pearce landlords TCN UK said: “Across our assets in Bristol we have seen improved occupier sentiment. This letting further confirms the demand for good quality space”. Natalie Bennett of letting agents Hartnell Taylor Cook LLP, said: “Monarch House provides good quality second hand office accommodation but over the past five years this sort of space has proved very difficult to let due to the quantity of similar space available in the market. “However, following the easing of planning regulations in the past couple of years, a number of high profile office buildings in the city centre have been removed from the market and are being converted to residential uses and, when combined with the strengthening economy, the market for similar office suites is now much tighter and we anticipate vacancy rates to fall dramatically with pressure increasing on rents to rise.”
Hospitality
Hotel ranked among best venues to work ● THE Aztec Hotel and Spa at Aztec West Business Park has been voted in the top 10 of best places to work in hospitality 2015. The 128-bed four star hotel, part of the Shire Group, employs 180 staff, many of whom have 20 years’ service. It was given the accolade by The Caterer industry publication which praised its engaged, happy and productive workforce. General manager Chris Hill said: “This is a great award for the hotel to receive. We have a very stable and experienced team at the Aztec Hotel and Spa and this award is a great testament to our hotel principles, quality, integrity and care.”
The firm has landed several clients already. And Alyson says it has ambitious plans going forward. “We want to open new offices, create new jobs and work alongside businesses to help them grow,” she said. “Everybody says they’re different, but we really believe we are and feel our young and disruptive approach will be good for business owners in this fantastic and thriving city.” The firm offers a wide range of accountancy services, including support services, compliance services and taxation. The pair have defined themselves as general accountancy practitioners and aim to work across a wide range of sectors. The company will encourage people to use online accounting packages, but can guide clients through the process of converting to an online system to give them a more streamlined approach to accountancy.
Wednesday, May 13, 2015
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Analytical services
Banking
Boom time Asbestos-check firm buys its base as order book grows Oh}pu \ovtwzvu
Assistant Editor (Business) gavin.thompson@b-nm.co.uk
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USINESS is booming for a company founded by a husband and wife that assesses buildings for asbestos. PJL Laboratories, based in Whitchurch, Bristol, offers asbestos analytical services to customers including private individuals, businesses, other asbestos handling companies, building contractors, self-employed construction workers and anyone who is buying a building that would need an asbestos report. Since May 2004, every non-domestic property has been required by law to hold an active asbestos management plan. The firm has now bought its premises and invested £150,000 in the business with help from Barclays, to meet the demands of its current order book and future growth strategy. Established in 2005 by husband and wife team, Phillip and Eileen Love, PJL Laboratories has since built up a UK-wide customer base and has experienced an increase in turnover each year, despite the recent challenging economic climate. The move secures the company’s existing 3,500 sq ft laboratory and office space, located at Hawkfield Business Park, Whitchurch, and is an important step in future-proofing the business. Philip said: “This is a great opportunity and with the support of our bank and a sound business plan the purchase has resulted in a significant rental reduction, allowing us to continue to invest in the business now and in the foreseeable future. “This is good news for the business and for our staff, many of whom have been with us for several years.” The premises cover two floors, offering additional space for future expansion as well as free parking for the firm’s 15 employees. Sally Tullett, Barclays business banking manager, Bristol, said: “Successes like PJL Laboratories are why it is so important to continue supporting start-up businesses as, in time, they can grow and play an
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HSBC’s triples fund on offer to SMEs ● HSBC has created a £150 million fund to support small and medium sized businesses in Bristol and Bath. The fund is treble last year’s pot of £50 million, showing the general uplift in confidence. The bank is also waiving or refunding arrangement and security fees on business loans of between £1,000 and £300,000 until the end of July. James Elwes, area director of business banking in Bristol and Bath, said: “SMEs in Bristol and Bath are ambitious and we are open for business and ready to help them invest to grow. “Too often I hear customers say they weren’t aware just how closely HSBC works with SMEs and start-ups in Bristol and Bath. We want to change that perception and reaffirm our commitment to businesses of all sizes.” Ian Stuart, head of HSBC’s UK Commercial Bank, added: “We’re hugely proud of our unique international network, but it’s vital that businesses across the country, from start-ups and sole traders upwards, know that HSBC is there to support them.”
Survey
Remote working on increase, finds study
● Lab analyst Alice Smith testing samples at PJL; left, Eileen Love of PJL Laboratories, outside their Barclaysfunded new laboratory and office at Hawkfield Business Park, Whitchurch.
integral role in contributing to a prosperous economy. “By really understanding the business, we have been able to support PJL Laboratories financially and professionally since it was founded a decade ago. No matter where a business is on its journey our wide range of support is designed to help.” PJL is accredited by UKAS, the body recognised by the HSE and the Government to assess using internationally recognised standards. Due to the nature of the work, the firm is checked by the HSE every year.
● MORE people are using remote working tools in their job, a new survey has found. In Bristol 78 per cent of those questioned have used at least one tool enabling remote working in the previous month, according to a survey of over 4,000 senior business people across the UK by workplace provider Regus. The research found the traditional problem of accessing files is being solved by secure document sharing services. Dropbox is the most commonly used online file-sharing service, used by 58 per cent, followed by Google Drive (39 per cent) and Google Hangouts (17 per cent). Another challenge remote workers face is being overlooked when they are not in the office. However, Instant Messaging tools and VoIP are helping remote employees show they are available, connected and immediately responsive.
Tobacco
Imperial’s sales hit by Iraq troubles vious year. The firm has benefited from improving its stock control, with fewer cigarettes sitting idle with distributors. To keep shareholders happy, it increased the interim dividend by 10 per cent to 42.8 pence per share. Chief executive Alison Cooper said the firm was delivering in its targeted growth brands and markets, which include Italy, Greece, Scandinavia, Saudi Arabia, Japan, Taiwan and Kazakhstan, although politics again meant Russia proved more of a challenge. “This has been a good start to the year,” she said. “The progress we're making with our strategic agenda is improving the consistency and qual-
ity of our performance, with our growth brands delivering 12 per cent underlying volume growth and further gains from our specialist brands. “We continued to build momentum in our growth markets and generated positive results from returns markets. “Cash conversion was up, our debt reduced significantly and we delivered another dividend increase of 10 per cent. “We are building on these successes in the second half and look forward to completing the US deal and realising the benefits of our enhanced brand equity and scale in this important market.”
Looking ahead, Imperial shareholders recently approved the acquisition of a number of assets in the USA from Reynolds American, including the Blu e-cigarette brand, which were being sold as part of a
merger between Lorillard and Reynolds. It will increase Imperial’s market share from around three to 10 per cent in the US and the firm hopes to secure regulatory approval this year.
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POLITICAL problems in Iraq hit sales at Bristol firm Imperial Tobacco in the first six months of its trading year. A statement from the cigarettemaker, which has headquarters in Winterstoke Road, said underlying tobacco volumes were down five per cent, “held back by Iraq, where the deteriorating political and security situation has significantly impacted industry volumes”. Excluding Iraq, underlying volumes were down three per cent. Despite the drop in volumes, net revenues were flat at £2.9 billion. Profits from the six months were £959 million, down two per cent from £978 million in the same period the pre-
● Imperial Tobacco chief executive Alison Cooper says the company has had a number of successes in the first half of the year
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Wednesday, May 13, 2015
The Big Interview
MAKING THE WORLD GO ROUND A LIT
The way we pay keeps getting easier Gavin Thompson meets Jeremy Gumbley, chief technology officer at the Bristol firm which is making that a reality
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T’S the noise that tells Jeremy Gumbley where he is in the morning. The chief technology officer at Creditcall splits his time between homes in Bristol and New York. “New York has that permanent background noise,” says Jeremy. “Whenever I come back here after being in New York I can’t sleep for the first few nights, not because of jet lag but because there’s no background noise. “I live in Southville and lying there you’re thinking there’s something missing. The only thing is the occasional ambulance on Coronation Road and the wood pigeons. “Then after I go back to New York I can’t sleep because there’s this constant din and background noise.” Despite the noise, or lack of, Jeremy loves travel. Everything from the mechanics – “you see an A380 taking off and the size of it it’s a
Vital statistics Name: Jeremy Gumbley Age: 44 Title: Chief technology officer at Creditcall Born: Birmingham Education: I went to school and got to 16 and thougt what I’m going to do is go into the wide world and start work. First job: McDonald’s flipping burgers. It taught me an awful lot about hard work and responsibility.
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marvel it can even fly” – to the language – he’s a fluent Italian speaker. One of his biggest disappointments is the direct flights between his two homes were scrapped. “It’s a real pity Continental decided to stop its direct flight to New York,” he says. “It was so convenient for businesses here in Bristol. That probably brought a lot of economic benefit tot he region. But we are where we are. When I first moved to Bristol you could fly to Ibiza and Aberdeen, now you can get anywhere in the world.” His love of travel might partly explain why Creditcall exports to 27 countries. Last year it received the Queen’s Award for International Trade. But it’s the company’s crystal ball gazing that explains why it’s been so successful executing it. “If there is one thing Creditcall has been very good it it’s figuring out what’s going to happen in the future,” says Jeremy. “We looked the United States and thought the next logical step would be for it make the jump to smart card, chip card technology. “With the precedent being set in the UK in 2005, we thought the US would migrate at some point. “Part of it is about seeing the mov-
ing parts and another is creating the future. I think it was Steve Jobs who said that people don’t necessarily know yet what they want to buy. Some of our products fit that too. “We have been an incredible innovator in the payment space. What’s amazing is we are a comparatively small company based in Bristol. “When you pay something, enter your pin or insert your card there’s a fair chance that the technology that you can’t see powering that is Creditcall. The chances are if you’ve paid for car parking in the UK or US you’ve used Creditcall. “We facilitate in the background. In the early days if you stayed in a hotel with a phone with a card swipe on the site, that was ours.” The US was the first export market for the firm, based in the Harbourside
across from Wapping Wharf (and yes if you park there it is Creditcall technology in use). “It was a risk,” admits Jeremy. “Every business will face that decision whether to keep trying to grow at home or look elsewhere. “We took a cautious approach and didn’t open lots of office and employ lots of people but it has paid of hugely for us. “The US opened the door to Canada and Australia because once you can figure out how to make it work in the US you can do it elsewhere. Now we never assume working in a new country will be easy but we are not frightened either.” Having seen the move to smart card technology coming, what’s next? “Contactless has been a really slow burner but is going to be really big,”
“ Contactless has been a really slow burner but is going to be really big... It is growing very rapidly and that will be further enhanced by the ability to use your phone Jeremy Gumbley, Creditcall says Jeremy. “It is growing very rapidly now and that will be further enhanced by the ability to use your phone in lieu of a card. Creditcall is at the epicentre of what goes on in that space because it is the next logical
place for payments to evolve.” Jeremy explains how the firm got involve in this area. “When you take a phone apart and look at the component parts and you take a payment device apart and look at the component parts, they are very similar,” he says. “So we got thinking – and I remember the brain-storming session very clearly – when and how is this platform going to evolve into a payment platform? “We brought out a product back in 2010 and we continue to be ahead of the game and are one of the world leaders because we had the appetite for some risk. “Contactless will be the dominant way of paying for things, whether by phone or card or other form factors such as wearable technology. That’s
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Wednesday, May 13, 2015
TTLE BIT FASTER My working day Working day: My day will consist of checking with those teams, creating new things looking at how we join the dots and commercialise products. I’m an early starter and a late finisher. I like coming in before it gets busy but I’m really interested when I see people working late that they are invested in what they are doing. So sometimes I think I’ll leave at 6pm, then I see a bunch of people working on something exciting and think ‘maybe I’ll spend some time with them’ and then it will be 8pm.
Aviation
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Bristol Airport flying high for easyJet as airline profits soar BRISTOL proved itself to be one of easyJet’s best performing airports as the firm released bumper half-year results. Senior executives at the carrier took the chance to reaffirm their commitment to Bristol while also commenting on the debate over devolution of air passenger duty. The tax is being devolved to Scotland and Bristol Airport bosses fear if the same happens in Wales it will give Cardiff Airport an unfair advantage by allowing it to cut prices for flyers. However easyJet’s UK director Sophie Dekkers said she hoped such talk would result in lower tariffs across the board. “You can’t cut tax in Cardiff and not do the same over the Severn Bridge in Bristol,â€? she told the Post. The company reported a profit of ÂŁ7 million, boosted by the lower oil price as well as a rise in passenger numbers. Across the UK, the number of passengers rose 3.6 per cent but Bristol far exceeded that with eight per cent growth year-on-year. “Bristol is performing really well for us,â€? said Sophie. “We have added an extra aircraft this year, taking the number based in Bristol to 12. “We are launching seven new routes from Bristol this year which is unusual for any airport to have so many.â€? Two of those routes are being launched today. The airline, which carried 3.6 million passengers in and out of Bristol, has transformed its image in recent years and is attracting many
more business travellers. Commercial director Ali Gayward said the company would continue to aim for that market by improving its service, for example adding a second bag for easyJet+ card holders. She said the next phase would be to roll out digital improvements to airports including Bristol. “We are making digital enhancements,â€? said Ali. “We have just launched our Mobile Host app at Edinburgh and Gatwick airports where through push notifications we can take you through the airport.â€? It means instead of being glued to screens, alerts about gate numbers, boarding times and distance to the gate will be sent direct to passengers’ phones. Ali said the firm was working with airports including Bristol to roll it out. Meanwhile, the airline has been working with Airbus to re-model its A320 planes to add an extra six seats for future deliveries, taking capacity to 186. Ali said: “We could have made it an extra eight seats but we wanted to keep the seats the same size for optimum comfort.â€? Staff at Airbus, which employs 4,000 people in Filton, Bristol, redesigned the cabin to find this previously un-used space for the additional seats. Total revenue for the six months to March rose from ÂŁ1.7 billion to ÂŁ1.77 billion, with profits up to ÂŁ7 million from a ÂŁ53 million loss over the same period in 2014. However it expects the second half figures to be affected by French air strikes last month.
My downtime Downtime: My work and home life are intertwined. I’m very interested in languages and other cultures, I speak Italian and lived there for some time. I enjoy horse riding and love travel. I love planes and airports.
â—? Chief technology officer Jeremy Gumbley from Creditcall Photographer: Barbara Evripidou
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just an evolution of the mobile payment space.� Creditcall employs 72 people at its Bristol office but hopes to hire 20 to 30 more this year as it expands. Even then, it is still small in global terms, something Jeremy believes has a value. “We are small and fleet of foot and have a lot of smart people,� he says. “When you have that combination we are difficult to out manoeuvre.� People are the key to success as far as Jeremy’s concerned. He is full of praise for the talent pool in the Bristol area and the two universities, Bristol and UWE, which help produce them. But once they get to Creditcall, he thinks the work keeps them motivated. “People know they are working to-
wards a tangible goal,� he says. “You are doing something people will use.� Sometimes in business there is chasm between the people who make the products and those who want to make profit from them. Not so at Creditcall. “I always had a flair for technology and commercialising technology,� says Jeremy, who was an early pioneer in the anti virus industry. “We are a cutting edge technology company but we always keep an eye on making money because we are providing people with jobs. I like to say to people who join that you can have a job for a long as you want it. “Technology for technology’s sake is fantastic, you can spend your career in research doing that. But for me the ultimate validation of your thoughts and hard work is whether somebody was prepared to exchange money with you for it. “I want to see my technology being used in the furthest corners of the world. “I go to San Francisco and I can see so many instances of Creditcall’s technology there. How cool is that? Eight thousand miles from here and you can see our logo on parking meters in Silicon Valley. For me, that is the ultimate accolade.�
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www.bristolpost.co.uk
Wednesday, May 13, 2015
Bristol Post Business Awards |
’
FINALISTS WHO WILL BY VYING FOR OF THE YEAR
Sponsored by Jeff Way Electrical Services
Assistant Editor (Business) gavin.thompson@b-nm.co.uk
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T’S a mighty impressive shortlist that shows the strength of Bristol’s business community... Here we reveal the finalists for the 2015 Bristol Post Business Awards in association with UWE Bristol. The number of entries was well up this year, perhaps reflecting growing confidence among business owners and managers. But the quality of field has been staggering and making this shortlist is no mean feat. There are some very successful firms that didn’t make it this far, which is testament to the quality and talent among businesses in Bristol. It was certainly a tough task for the judges, who had a very thick judging pack to get through and we’re grateful to the time and effort they all put in to drawing up this list. The winners will be announced at the gala dinner held once again at The Passenger Shed, Brunel’s Old Station, in Temple Meads on June 25. With the calibre of finalists, it will be a cracking night, although the evening is not just about them - it’s highlight of the Bristol business calendar and tickets are on sale now for any business that wants to be there. But enough with the preamble here are your finalists...
YOUNG ENTREPRENEUR OF THE YEAR Sponsored by Renishaw ● Craig Stevens, Workout Bristol Ltd/ Superhuman Events Ltd, North Street ● Amy McCormack, ETM Recycling, Ashton Vale ● Emma Sherry, Chorus Solutions, Portishead ● Edward Hodges, Joining Forces Training, Easton
RETAILER OF THE YEAR Sponsored by Broadmead BID ● Angelberry, Southmead ● Nailsea Electrical, Gloucester Road, Bishopston
CUSTOMER SERVICE AWARD Sponsored by Destination Bristol ● DoubleTree by Hilton, Cadbury House, Congresbury
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● CR Windows, Kingswood ● DoubleTree by Hilton, Bristol City Centre
● MixRadio, Wine Street, city centre ● Broadmead BID, Broadmead ● CR Windows, Kingswood
BEST CREATIVE OR TECHNOLOGICAL BUSINESS AWARD LARGE BUSINESS OF THE YEAR Sponsored by Smith & Williamson
Sponsored by Next Generation Data (NGD) ● Mubaloo, Clifton ● PeopleSource MD Tim Allen and chairman Jason Baker
● Hargreaves Lansdown, Harbourside: Perhaps Bristol’s best know success story of recent years, the firm was started by Peter Hargreaves and Steve Lansdown and grew to become a FTSE 100 listed company employing more than 900 people. In recent years the founders have stepped back but the firm continues to thrive with profits reaching £209 million in the year to June 2014. ● Computershare, South Bristol: This financial services firm employs 1,400 people at its UK headquarters, providing services such as share registry, childcare vouchers and tenant deposit protection schemes. It has invested £130 million growing through acquiring businesses and has revenues of more than £200 million. It has launched several new services recently as well as improving its headquarters, which is now a listed building. ● People Source Consulting, Bath Street, city centre: A recruitment business founded by Jason Baker which set out to not just succeed for its clients but also be the best place to work in Bristol. It started with a £5,000 Prince’s Trust grant and 13 years on is heading for a turnover of £28 million. The firm recently moved into new offices, with room to grown... and for a few arcade games and snooker table.
FAMILY BUSINESS OF THE YEAR Sponsored by BOM Group ● John Sheppard Butchers, Ashley Trading Estate
● Vistair, Almondsbury ● Creditcall, Harbourside
LEISURE AND TOURISM BUSINESS OF THE YEAR Sponsored by QBE ● Smoke & Mirrors, Denmark Street ● Rainbow Cafe, Clifton ● Everyone Active, various Bristol leisure centres
START UP BUSINESS OF THE YEAR ● Julian Foster, a boss at financial services firm Computershare
Sponsored by Jordans ● Steak of the Art, Harbourside ● Cubik Innovation, Bristol and Bath Science Park, Emersons Green ● ForrestBrown, Clifton
ENVIRONMENTAL BUSINESS AWARD Sponsored by Nuffield Health ● ETM Recycling, Ashton Vale ● Computershare, South Bristol ● Ashfords law firm, city centre ● Solarsense, Backwell ● Peter Hargreaves whose firm’s profits hit £209m in the year to June 2014
INNOVATOR OF THE YEAR
EXPORT AWARD
CONTRIBUTION TO THE COMMUNITY ● Energise - Everyone Active, Easton
Sponsored by Mazars
Sponsored by First Great Western
Sponsored by Aon
● British Corner Shop, Iron Acton
● MD Building Services, Bedminster
● Fhoss Technology, Weston-super-Mare
● Boomeco, Avonmouth
● Ashfords law firm
● Jeff Way Electrical Services, Knowle
● Mubaloo, Clifton
● Yate Supplies, Yate
● Ovo Energy, Temple Quay
● Vistair Systems, Almondsbury
MARKETING CAMPAIGN
Lifetime achievement award sponsored by UWE Bristol, will be announced on the night
www.bristolpost.co.uk7i|zpulzz
Wednesday, May 13, 2015
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In association with
THE TOP PRIZES ON OUR BIG NIGHT SMALL BUSINESS OF THE YEAR Sponsored by Lloyds Bank Commercial Banking ● Angelberry, Southmead: A frozen yoghurt franchise business started by friends James Taylor and Ryan Pasco at the Imperial Retail Park... in winter. It has grown to have outlets not just in Bristol but the Middle East and South Africa among others and has signed deals for major expansion in these export markets. ● ETM Recycling, Ashton Vale: A family-run business offering waste management, recycling and skip hire. It recycles 90 per cent of all the waste at its recently reopened centre. The firm was founded in 2010 and has become a key player in the market in Bristol and Bath, with a particular SME focus. ● Sovereign Fire and Security, Avonmouth: A security consultant and alarm installer which grew from a home-based business to owning
its own purpose-built premises. Another family-run firm, it was founded in 1991 and now has a turnover over £3.5 million ● Chorus, Portishead: The business has grown from a two-man consultancy to a team of 50 specialising in IT support, cloud computing, web development and other creative services. The firm partners with industry leaders such as Microsoft and the team is still growing with expansion on the horizon and hopes to grow turnover close to £4 million this year. ● TR Scaffolding, Brislington: A small engineering business which has found success providing a niche service for specialist scaffolding since being taken over by new owners in 2012. Working on higher risk projects has rewarded the firm with higher margins allowing it to reinvest in its workforce. It now plans to expand to other parts of the country.
South West Business
New website brings you latest business news briefing. Bristol Post assistant editor (business) Gavin Thompson said: “We believe this is something business owners, managers, professionals and entrepreneurs have been crying out for. “Through South WestBusiness we will deliver the best business news service in the region if not the country. “But we know businesses want more than just news so we’ve introduced a two-tier membership structure to help them stay ahead of competition and give their business super powers.” The Smarter Web Company, a small business based at Aztec West in Bristol, has designed the new site. Managing director Andrew Webley said: “We were thrilled when South West Business asked us to revamp the website that we created several years ago. “It’s great for us to see a large website with content from a number of different parties being managed through our system.” The new-look Southwestbusiness.co.uk will be officially launched at UWE Bristol on May 21. Email sarah.wallbridge@localworld.co.uk if you would like to attend.
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TODAY the Bristol Post and its sister titles across the region are launching a new business website. South West Business will be the place for breaking and in-depth business coverage in the Bristol area. But as well as local business news channels, it will focus on key sectors such as aerospace and professional services, meaning readers can keep on top of their industry locally and across the region. The site is powered by the business teams from Local World’s newspapers and websites in the region, including the Bristol Post, Bath Chronicle, Gloucestershire Echo and Gloucester Citizen. South West Business has been running for several years but the new site - which will be found at the same address www.southwestbusiness.co.uk from this afternoon – is a more modern platform, built to be just as good on mobile, tablet or desktop. As well as news and analysis available to all, the site has a range of new features for members including: ● A self-serve business calendar where you can upload your own events or see what’s going on; ● A Your News channel where you can post articles to share your success stories; ● A property search where you can find new commercial premises and post properties for sale or rent; ● A directory of members to help you build contacts; ● And a SME SOS channel where business owners can find advice articles and a monthly podcast helping you handle thorny issues. ● Access to a daily 7am Business Bite
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Business diary Business Showcase South West: Inspirational speakers, exhibition stands and networking opportunities. Free event at Colston Hall tomorrow and Friday. www.showcase2015.com. Networking with Bordeaux trade delegation: Bristol Junior Chamber and the City Council host a 40-person delegation from Bordeaux from May 16 to 19. This networking event is open to all but ideal for those with an interest in environmental technology, web development, digital media, online gaming and AV production. Monday May 18, 6-7pm, at Hamilton House, 80 Stokes Croft, BS1 3QY. Email BJC president Ben St Quintin at bstquintin@alderking.com to confirm your attendance. Hinkley Clinic: North Somerset businesses interested in opportunities around the Hinkley Point C power plant can sign up for clinics at The Hive on May 19 and 26. Contact sambodman@ hinkleysupply chain.co.uk. Bristol and Bath Apprenticeship Awards: An evening to celebrating the best apprentices in the region, organised by the Bristol Post and Bath Chronicle in association with South Gloucestershire and Stroud College. May 20 at Bristol City Centre Marriott. Tickets at www.bristolpost.co.uk/ apprenticeship. South West Business Launch: Hear about the exciting re-launch of our business news and information platform, SouthWestBusiness.co.uk. Takes place at UWE Frenchay Campus from 6pm on Thursday, May 21. Email sarah.wallbridge@ localworld.co.uk to register. Business Pulse: Showcase of the BDO Bristol Post Business Pulse survey results, plus the chance to ask the mayor about issues raised from the surveys at BDO LLP’s Bristol office on, Wednesday, May 27, at 12.30pm. Sign up and submit a question at www.surveymonkey. com/s/XHFFP9H.
Wednesday, May 13, 2015
In pictures Bristol to Paris charity bike ride
Magnifique Cyclists reach Paris on big ride to raise cash for hospitals
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IRED but elated, a group of Bristol’s business leaders and professionals pedalled their way to Paris to help a charity appeal reach a major milestone for one of the city’s hospitals. Around 70 cyclists, including representatives from AWW, Specsavers, Weaver Demolition Services, Clifton Estate Agents, Ardent Communications and Bristol Media, made their own Grand Depart from the Clifton Suspension Bridge and made the arduous cycle to another landmark – the Eiffel Tower. Lorna Clark, head of corporate partnerships at the Above and Beyond charity, which supports the University Hospitals Trust, said: “There’s been such a sense of excitement in terms of everybody getting on the road and taking on this huge 270-mile challenge for our hospitals. “I’m delighted that so many local companies took part. Businesses of all sizes – from small, independent owner-operated to much larger companies – have come on board. The commitment to fundraising and training for this event by our cyclists has been remarkable. “The challenge team’s arrival into Paris was a really special day for Bristol and for the charity, given our Golden Gift Appeal is now at the £5 million mark, and our cyclists are leading the countdown to raise that final £1 million – helping to transform our city’s hospitals for patients in our city and region for generations to come.” The appeal aims to raise £6 million to better equip the trust’s hospitals, which include BRI, the Children’s Hospital and St Michael’s.
● Walid Kuyami and Noel Hirons of Renishaw celebrate with community fundraisers and sisters Sophie and Georgina Moule; Sue Atkinson of Ardent Communications punches the air on the charity team’s triumphant entrance to Paris after their epic challenge for our hospitals; below left, Andrea George and Charlotte Meads of Nuffield Health
In pictures Launch of Bristol Chapter of Urbanistas UK
Venturefest: Showcase for innovation comes to the Engine Shed and Passenger Shed at Temple Meads. June 9. More at venturefestbristolandbath.com Charity mergers seminar: Experts talk about legal issues around charity mergers, including Sue Davie, from Meningitis. 10am-1pm, June 18, at Foot Anstey, 100 Victoria Street, Bristol. Call 0800 408 0050 or email events.team@ footanstey.com to book.
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Investing in the Future: Eden Project co-founder Sir Tim Smit is keynote speaker at this Rathbone Greenbank Investments event, which also features short talks from local figures involved in creating a more sustainable future. Part of Big Green Week. Venue is At-Bristol, June 18. Book at www.biggreenweek.com. Email your business events to gavin.thompson@b-nm.co.uk. Events are sometimes cancelled without us being notified so please check with organisers before travelling.
Women-led group seeks to bring new passion to business projects A GROUP of women who want to make Bristol a better place have launched the Bristol Chapter of Urbanistas UK. The venture has a collaborative spirit so there are fittingly three co-founders of the new chapter: Helen Farmer of VoiceByVolume Marketing, Shankari Raj Edgar of Nudge Group and Lily Bernheimer of Space Works Consulting. They want to use their experience and passion to help people start new projects or to amplify good stuff going
on already. Helen describes herself as a catalyst and connector, setting up or growing partnerships and communities locally and internationally, working for women, business and social impact. Shankari is a cutting edge architect and designer working with communities to reinvigorate or create people-centred design of places, spaces and buildings such as the Creative Common and the Engine Shed re-design.
● Liane Hartley
● Lily Bernheimer of Space Works Consulting
Lily is a London Urbanista who recently moved to Bristol, bringing a big picture research perspective to help understand and act on human factors in the cities we live in. The ethos of the women-led group is to be creative, disruptive and collaborative. It aims to provide a supportive environment where women can bring ideas and challenges and get support to help them to act.
Helen said: “Some people may be put off by ‘women-led’ but not everyone, some people can see that this kind of group can provide a dedicated space for women to bring their idea, project or challenge and get help with any obstacles to help them ‘do’ it.” The group has a long list of potential areas to tackle from looking at how Bristol can be more joined up to achieving greater business diversity.
www.bristolpost.co.uk7i|zpulzz
Wednesday, May 13, 2015
In pictures ICAEW’s West of England annual dinner
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We need to involve schools in our profession, says president THE president of the ICAEW, which represents chartered accountants, has urged the profession in the South West to work with schools and communities to plug a major skills gap in the sector and support future economic growth. Speaking at the ICAEW’s West of England annual dinner in Bristol, Arthur Bailey said: “We are campaigning for work experience to be mandatory in schools and encouraging our members to provide work place experience for disadvantaged young people. He added: “Exposure to working life can make all the difference to young people. “It’s not just our profession that benefits but the 1.5 million businesses we advise.” Arthur highlighted the success of a number of initiatives that the ICAEW was already involved in, including the BASE competition for schools which runs across the region and is designed to help pupils understand the importance of business strategy and teamwork, as well as Access Accountancy, a scheme which is opening up the profession to those from less privileged backgrounds. He also reported that 135 accountancy companies in the region had signed up for its business advisory service, volunteering to support start-ups and growing businesses. The dinner was sponsored by leading law firm Thrings and Lloyds Bank. Clive Hetherington, area director in the South West at Lloyds Bank Commercial Banking, said: “We understand the importance of giving young people access to experienced business professionals who can help equip them with the important skills they need when entering the workplace.” Simon Holdsworth, managing partner of Thrings, said: “It is vital that the professional services community harnesses its collective experience and knowledge and shares it with
● From left Ed Corrigan, President of ICAEW West of England; Paul Harvey, South West Business Development Director, Lloyds Bank Commercial Banking; Ann Widdecombe; Simon Holdsworth, Managing Partner of Thrings; and Arthur Bailey, President of the ICAEW
● Clare Beazley – PleaseTech Ltd and Kit Beazley – Triodos Bank
● Left, Nick Jones, Katie Haynes, James Pitts, Jennifer Smith and Will Mallott – all Grant Thornton; right, Martin White – Linden Homes, Rose Bancroft – Michael Page, Nick Stavri – Page Executive and Martyn Cutter – RWE nPower schools and colleges across the region. By collaborating in this way, pupils will have the best possible opportunity to realise their commercial ambitions and, in turn, help protect and accelerate future economic growth.” Former Conservative MP and gov-
ernment minister Ann Widdecombe was the keynote speaker at the event and gave her insights into what the political parties will need to do to secure the business vote at the General Election. She said: “Top of the business agenda is reducing red tape, easing
taxes and making the education system more efficient so that young people are readier for employment.” Ed Corrigan bowed out as president of ICAEW West of England after his 12 months in office. He will be replaced by Rick Sturge, whose career has included working
in director-level strategic and business development roles for the Chartered Institute of Management Accountants, Accenture and PwC. He is currently EMEA vice president of sales and marketing at business process management specialists Firstsource.
sales at stockbroker WH Ireland, said: “Public equity finance offers businesses of all sizes the opportunity to attract capital and grow. “This event showed how business owners can build a relationship with
brokers to understand what investors want and deliver value that benefits all parties.” Mark Wesker, corporate finance partner at Osborne Clarke, said: “The success of this event demonstrates
the increasing interest of businesses in becoming listed companies. “This reflects the attractiveness of the equity markets to growing businesses and the strength of the economy in the South West.”
In pictures Public equity markets
Is this the right moment to list your business?
Tim Ward, chief executive of QCA, added: “Events like this are very important to spread the word about how public equity finance is vital for a growing economy.” Jasper Berry, head of institutional
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DIRECTORS from 35 businesses across the South West gathered to examine the state of the public equity markets and whether now was the right time to list their business. The event was a joint venture between Moon Consulting, WH Ireland, the Quoted Companies Alliance (QCA) and Osborne Clarke, held at the UK law firm’s Bristol Office. Speakers were Tim Ward of the QCA and Jasper Berry of stockbrokers WH Ireland. They gave a candid assessment on the advantages and disadvantages of public equity finance. A Q&A panel discussion followed, where a variety of directors from businesses of all sizes and sectors debated the topic. Simon Quinn, senior search consultant at Moon Consulting said: “This series of events has proved extremely popular with clients and I want to thank everyone involved in making it such a success. “We want to guide directors through the many finance options available so they can find what works for their business.”
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www.bristolpost.co.uk7i|zpulzz
Wednesday, May 13, 2015
General Election Bristol bosses welcome result and look forward to period of stability Oh}pu \ovtwzvu
Assistant Editor (Business) gavin.thompson@b-nm.co.uk
● Firms in the South West have welcomed David Cameron’s election victory and hope for continued investment; below, Phil Smith
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USINESS leaders are urging the new Conservative Government to look further ahead at the challenges facing business and Bristol. Phil Smith, managing director of Business West which represents firms through the region’s chambers of commerce, welcomed the result for bringing stability. “Firms across the South West are breathing a sigh of relief as the prospect of a second successive hung Parliament disappears,” he said. “A majority government means that businesses can continue with their investment and growth plans, it is now up to the government to continue to make the changes necessary to support economic growth. “The Conservatives must use their clear mandate to take the important decisions to help British businesses invest and grow. “In return, business stands ready to work with the new government to deliver prosperity, jobs and sustained economic growth.” But Phil admitted there were some big questions ahead, chiefly the EU referendum. He said: “Our region contains several high profile businesses for whom an EU exit would pose a serious risk, and with that the health of key business sectors and
supply chains. It is vital that a referendum is conducted in a way that does not exacerbate uncertainty and jeopardise our region’s investment, jobs and growth.” Jeremy Richards, head of the Bristol office of property consultancy JLL, called for a longer term focus on infrastructure and house building. “The real challenge for the next government is to focus on medium-term measures to improve productivity, which has lagged behind countries such as the US, Germany and France, despite our remarkable rates of job creation,” he said. “This will need to include further
investment in infrastructure and skills. But the real job that begins today is to set out a clear plan to boost new home supply. A stronger housebuilding sector is the only way to solve the UK’s housing crisis, while also adding construction jobs. “Continuity of housing policy will strengthen the chances that the UK will make strides to solve the housing crisis. This election result is a win for struggling renters, aspirant first- time buyers and even the bank of mum and dad.” Adam Tavener, chairman of Clifton Asset Management, and the catalyst for the Alternative Business Funding (ABF) platform, said small businesses must be the priority.
He said: “The coalition government went to great lengths to ensure that the SME part of the private sector, above all others, received the structural and legislative support it needed to thrive, most urgently in the area of access to finance.” In particular, he praised the Small Business, Enterprise and Employment Bill which included the mechanism by which major banks have to refer SMEs they have declined for funding to suitable alternative lenders. Adam said: “Although possibly not as headline grabbing as some aspects of government policy this Act, and the bank referrals part of it, are hugely important to the long-term health of the economy. “It’s now important that the new Conservative government continues to prioritise the SME access to finance issue and see the bank referrals part of the Act into the shape it needs to be to start delivering real results as soon as practically possible.” Tim Lincoln, head of practice at Grant Thornton in Bristol, said: “This election result provides the stability of a single party government and avoids lengthy coalition negotiations, which will help to calm markets and reassure business. “It will provide some continuity of policies, albeit a shift away from the Lib Dem centre. But it also creates greater long term instability – on Europe and in terms of the constitution of the UK and relationship with Scotland.”
In numbers Inflation (CPI)
8 86A 969 86= ;6AA
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Weekly earnings
Base interest rate
. . .
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Ave mortgage rate . Corporation tax .
:8
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Business current accounts 1.01% State Bank £10,000 deposit of India 0.25% £1 deposit
Opinion
Election outcome means interesting times ahead Oh}pu \ovtwzvu
Assistant Editor (Business) gavin.thompson@b-nm.co.uk
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HE results are in and, rather than weeks of negotiations, we know where we stand – with a Conservative majority Government and David Cameron as Prime Minister for another five years. What does that mean for businesses in the Greater Bristol area? In some ways, it means certainty. Reforms brought in by the coalition, such as new pension freedoms and ways to make banks refer business loan refusals to alternative lenders, will stay. The promised review of business rates, which we called for with our #realratesreform campaign, should go ahead, too, although I fear a Tory majority Government might be less radical with this. Time will tell. Infrastructure projects that had received Government backing in recent Budgets and Autumn Statements, such as the new motorway junction on the M49, should also go ahead. This will open up land at the northern end of the Severnside/Avon-
mouth site for development and will appeal to distribution and industrial uses where the time it takes to get to the motorway network is crucial. Further afield, the improvements to the A303 route into the South West should gain, too, although this could still crash if costs spiral. Whether currently unfunded ideas, such as a new motorway junction for Emersons Green on the M4, will happen is less clear, but it is certainly the sort of project that fits into the Conservatives’ ‘long-term economic plan’. Big business will be pleased that it won’t face Labour’s proposed corporation tax rise and employers who use zero-hours contracts will be relieved that the Tories won’t demonise them in the way Labour would. The future of devolution remains uncertain. In order to get more local control over issues like tax, spending and transport, the local authorities will need to come together in a more organised way. It’s hard to see Greater Bristol matching the joined-up approach that has paid off for Greater Manchester. Our West of England Local Enterprise Partnership is in flux, too, with chairman Colin Skellett stepping down and a call for new business
“ The promised review of business rates, which we called for with our campaign, should go ahead, too, although I fear a Tory majority Government might be less radical with this. representatives to come forward. We have lost some key figures from Westminster, too. Nationally, the former Business Secretary Vince Cable has gone and Shadow Chancellor Ed Balls. Closer to home, Steve Webb was a victim of the Lib Dem collapse, having held the Thornbury and Yate seat for the party since 1997. In the past five years, he has proved himself a capable and creative Pensions Minister at the vanguard of the most radical reforms of the last Government. He’s a rare thing – a politician motivated by policy and detail, not ego. The Apocalypse Lib Dem leads to a curious position. We have a majority Government, but arguably a less
stable one, and that’s generally bad for business. Despite cries that only majority governments can be strong, the coalition stood firm for five years. It meant Mr Cameron didn’t have to move too far towards the Eurosceptics on his right. With a slender majority, now he will. Remember John Major’s trials and tribulations after his shock 1992 win? That could mean tighter rules on immigration. Which is bad news if you work in construction, leisure, tourism and a host of other industries. We have a shortage of broadband engineers in this country, for example. Who will install your super-fast broadband if we close our borders? Businesses, and indeed our universities, need talented migrants. And, of course, we will have an in-out EU referendum, which will mean at least two years of uncertainty that might hold back some of the inward investment Britain, and increasingly Bristol, has been attracting. So while the Conservative majority provides continuity on tax, infrastructure spending and more, it doesn’t give us certainty. For business, there are interesting times ahead.
Business savings accounts Cambridge &Counties
1.75% £10,000 deposit
State Bank 1.49% of India £10,000 deposit Source:
Petrol prices 6A8w
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