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BUSINESS SOS
HAPPY WORKERS
BRIGHT YOUNG THING
How to recover when it all goes horribly wrong – pages 8&9
The company where everyone has a career coach – page 3
Meet the rising star of Park Street – pages 6&7
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bristolpost.co.uk
21
JAN
2015
WIRELESS
UPWARDLY MOBILE Tech firm’s about to hit the big time with a cheaper way of solving 4G reception woes – see page 5
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www.bristolpost.co.uk/business
Business rates
Wednesday, January 21, 2015
Insurance
Firms ‘in limbo until after the next election’
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● BUSINESSES are facing “a state of limbo” over business rates until the outcome of the general election, a property expert has warned. Paul Stevens, below, director of rating at Lambert Smith Hampton’s Bristol office, said the government’s decision to delay the revaluation process, which was due to take place at the end of March, by two years had created myriad problems. “The delay has significant implications for ratepayers, with many in the South West now paying higher rates bills as a result,” he said. “It will not be resolved until the outcome of the election is known in May and whichever party or parties are in power make their intentions for business rates clear.” Revaluations reflect changes in the rental market and have taken place every five years since 1990. The last one was in 2010 and was based on values at April 1, 2008 – the peak of the rental market, before values in many areas experienced dramatic falls. The next revaluation was due to take place this year and would have been based on rental levels at April 2013, which would have seen ratepayers who had seen the value of their properties fall between 2008 and 2013 enjoy a reduction in rates bills. But it has now been confirmed that the 2017 revaluation will be based on rental values as at April this year. This could have an impact for Bristol businesses because a lack of new development combined with good levels of take up of “grade A” space has led to increases in prime rents which will only accelerate during 2015. Paul added: “In the meantime, ratepayers need to be proactive to ensure that their rate liabilities are managed to keep bills to a minimum. Complexities resulting from stop-gap tinkering with the system mean that the system is now needlessly complicated and opportunities can easily be missed.”
● One Victoria Street and, inset, Cubex director Gavin Bridge
Buoyant market Riverside office space snapped up by Spanish firm Gavin Thompson Assistant Editor (Business) gavin.thompson@b-nm.co.uk
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SPANISH insurance firm is opening a new base in Bristol after letting a landmark city centre office on a 15-year lease. MAPFRE, which specialises in the car sector and also owns the Insure And Go travel insurance brand, is moving to the city centre from its Almondsbury base. The firm has been looking for a new office since 2011 and finally found the right location, letting One Victoria Street. The 46,500 square foot building has
room for up to 600 staff. The firm will be relocating its MAPFRE Abraxas, MAPFRE Warranty and Home3 operations from its Almondsbury base but a spokesman said it may move other arms to the city in future. “There will be new hirings both in Bristol and overall in the UK, but we can not quantify them at the moment,” he said. “We’ve chosen Bristol for its dynamism and communications infrastructure, the quality of its professionals and its proximity to London. We are also attracted by Bristol’s quality of life.” The building has been remodelled by local developer Cubex and owner M&G Real Estate. Cubex director Gavin Bridge said: “This is a great achievement for us to
Transport
Tourism
Growing First bids to hire 70 bus drivers
Park invests £100,000 in facilities
● BUS operator First has launched a brand new recruitment campaign as it seeks to hire at least 70 new bus drivers for positions in Bristol and Bath. With an expanding business and increasing demand for bus services across the region, the company’s demand for drivers has never been higher. James Freeman, managing director of First West of England, said: “The bus business gets in your blood. People who join our business as drivers will find they have an exciting and rewarding job, which helps to keep our towns and cities moving. More people travel by bus in the UK than any other form of transport.”
A TOURIST attraction has unveiled plans to invest £100,000 in new facilities to bring in more visitors. Puxton Park, outside Weston-super-Mare, will introduce a new lake, horse and barrel carousel and a “lumberjacks dash”, where children will try climbing and balancing exercises while learning about different timbers. The adventure park also wants to open 120 holiday log cabins so visitors can stay at the site, which it hopes will be approved later this year. The park is also investing in conservation by planting 2,000 new shrubs and trees to encourage more wildlife. Managing director Alistair Mead
said: “Puxton is widely becoming known one of the most popular adventure parks in the region and through our continued investment we hope to maintain this position. “We are thrilled to announce we plan to invest another £100,000 into new attractions this year, following the huge success of our bumper boats in 2014. “We would like to thank everyone for their continued support, which without we would not have been able to achieve all that we have to date.”
● From left, Alistair Mead, Luke Patrick and Lee Sargent
have let the entire building in under a year after completion. It’s an indicator of positive movement in the Bristol office market and demonstrates the requirement for sustainable, energy efficient commercial space in the city.” The move comes as the Office Agents Society released figures showing office take up across Greater Bristol passed the one million square foot mark in 2014, the first time since 2008. Take-up reached 1,266,535 square foot with a very strong fourth quarter pushing it past the landmark tally. City centre activity in the fourth quarter totalled 401,235 sq ft, compared with the 2013 figure of 76,835 sq ft. While the out-of-town figure for the three-month period was 91,649 sq ft
compared with 51,163 sq ft at the same point in 2013. Andrew Hardwick of Clifton-based property firm WGH said: “Market conditions have significantly improved over the last 12 months with headline rents increasing and incentive levels reducing.” Catherine Collis from office agency Alder King, also based in Clifton, added: “We saw a dramatic jump in take-up in the final quarter of 2014 with a number of high-profile lettings. “This was a great way to end 2014 and we expect this level of activity to continue into 2015.” The Victoria Street deal suggests 2015 is starting strongly too, although lack of supply could slow the pace as the year continues.
www.bristolpost.co.uk/business
Wednesday, January 21, 2015
Digital technology
Top place to work Kainos focuses on helping staff move up ladder Gavin Thompson Assistant Editor (Business) gavin.thompson@b-nm.co.uk
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Interest rates ‘biggest cause for concern’ ● COMPANIES in Bristol are worried about how even a small rise in interest rates would affect them. Research from insurance specialist QBE found more than one in five (22 per cent) citing interest rates as their biggest concern regarding the economy. Thirty-nine per cent said a rise of up to 1.5 per cent would have a tangible impact on their business. Of the 51 firms surveyed, 48 per cent would have to raise scrutiny on levels of working capital and cash flow while 38 per cent would expect increased trade credit risk within their customer base. Thirty-seven per cent would take a more cautious approach to spending. Trevor Williams, head of credit and surety in Europe at QBE, said: “Our research reveals a marked sensitivity among Bristol businesses to even the smallest increase in interest rates. In particular, companies expect their working capital and the credit worthiness of their customers to be impacted. “The closing of 2014 and the first days of 2015 have seen a number of high profile business failures and profit warnings. “Margins continue to be squeezed and payment terms extended, leaving businesses susceptible to being starved of cash. Companies offering unsecured trade credit to their customers would be prudent to explore the benefits and protection that credit insurance can deliver.”
Business Guide ● John Clapham, coach, with staff at the Kainos office
using private social network Yammer for internal communications – allowing people to easily work on projects across offices. And the firm runs an annual Ap-
keep and nurture that talent. She added: “We let our people shape the environment, we listen to feedback that we are given from our staff. We have quite a relaxed work environment, flexible working hours and casual dress. “We have programmes in place to drive the development of top talent in the industry, at every stage of experience. “Appearing once again in the Sunday Times Top 100 list is a great honour and a tribute to our amazing career ladder, creative coaching and community camps. “I’m very proud of our team that makes these things happen.”
Laser specialist sees bright future at new site
and added: “We are up and running with a new Bystronic 6kw flat bed laser and a pressbrake to fold the flat profiles we produce on the laser.”
● BRISTOL-BASED companies make up almost a third of the biggest businesses in the West, according to a new guide. The Western Daily Press Annual Business Western Daily Pres Guide is s published in our sister guide 2015 paper tomorrow, highlighting the biggest companies based in the region by turnover. As you would expect, Bristol is home to many of the powerhouse performers, including Airbus, Imperial Tobacco, Hargreaves Lansdown and Mitie. To see which company is top of the pile and who is up and down on 2014, pick up a copy of tomorrow’s Western Daily Press.
Business
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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 Call07828 941469 Email robert.rodgerson @b-nm.co.uk Advertising Jane Chapman Call 01179 343025 Email jane.chapman @b-nm.co.uk
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one when it comes to service and quality”. He said the company had installed the latest equipment at the new site,
The 18,000 square foot factory at Stover Trading Estate has plenty of room for growth and the company plans to add to the existing capacity in a short space of time. Managing director Andy Evans said: “It’s fantastic to see the factory open. “We have spent the last four months upgrading the building to what is now a showpiece manufacturing unit with the very latest in laser cutting technology. “It’s our mission to give the very best quality and service to our customers in the South West.” The factory employs an initial 12 staff, all of whom have a wealth of experience in the laser cutting industry. The firm also has manufacturing divisions in Stafford and Derby.
Revealing the risers and fallers in region
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“ Family businesses are the backbone of the nation’s economy – they are our unsung heroes – and they make a massive contribution to our GDP.
pcamp for first year undergraduates and CodeCamp for school leavers. “It works for us and them,” said Colette. “We are able to spot the talent for the future and we give them valuable work experience.” The first graduates for the Bristol AppCamp last year will be coming back for longer placements this year, keeping the talent production line moving. Colette said it was the local talent which convinced the firm Bristol was the right location for its expansion. “The 26 people we have recruited to date is testament of the talent we can see in Bristol,” she said. Now it is here, the firm wants to
Pic: Dave Betts
Engineering
A COMPANY which makes precision engineered parts and components has opened a new factory in Yate. SSC Laser specialises in laser cutting, an accurate way of shaping metal sheets to make manufacturing parts. The factory is the latest in the expansion of a company whose ambition is to open a laser cutting division in every major city in the UK over the next 10 years. SSC Yate started trading this month with a full order book. Sales manager Ben Cliss said: “Our growth in the area is unprecedented. “We worked in an office at Aztec West for two years before expanding to the factory in Yate. “We are determined to be number
Economy
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VERYONE at digital technology business Kainos has their own career coach to act as a guide and mentor to help them move up the ladder. It’s one of the reasons the firm has been named among the Sunday Times’ Top 100 Places to Work. It’s not the first time it has made the list, but it is the first since it opened its Bristol office. Lured by the talent pool and growing tech hub in Bristol, Kainos opened its base in the city last year. It now employs 26 people and is looking to fill a further 24 roles with the possibility of further expansion. Head of talent development Colette Kidd said: “If we find the right people, there’s no upper limit to our recruitment.” Kainos, which is Greek for “fresh”, provides digital solutions in three main markets, government, healthcare and financial services. For example, it has been developing the system used by the Department for Environment Food and Rural Affairs to deliver European subsidy payments to farmers who can now manage them online. It is also developing a system for people to check their driving records online such as what categories of vehicles they can drive, as well as any penalty points they have. Getting people who fit in to the culture is important to the company. So much so that once it had decided to move to Bristol, Kainos invited local recruitment agencies over to its Belfast HQ to show them its culture in action to them find the right people. “We are looking for innovative people who have ambition, people who are flexible and have a real desire to learn and like to work in a collaborative environment,” said Colette. “We’ve worked very hard to make sure the Kainos culture happens in all our offices.” As well career coaches, that means
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People
Wednesday, January 21, 2015
Insurance
Conference
UWE hailed for commitment to gay staff ● UWE Bristol has been recognised for its commitment to supporting gay employees. It was the top university in this year’s Top 100 annual Stonewall’s Workplace Equality Index. Out of the hundreds of employers surveyed, UWE climbed 24 places to 11th spot overall, from 35th position in 2014. The index is based on a range of key indicators including a confidential questionnaire of lesbian, gay and bisexual staff, with 9,700 participants nationwide. This consistently revealed that employees from organisations ranked in Stonewall’s Top 100 exhibited higher levels of staff satisfaction and loyalty. Pro Vice-Chancellor and UWE Bristol diversity champion Professor Ron Ritchie said: “We are delighted to have made year-on-year progress in the prestigious Stonewall Workplace index and to now find ourselves so high up and the top university in the list. We were aware of the greater challenge of this year’s submission due to a revised set of criteria established by Stonewall, so are especially pleased. “We celebrate the diversity of our workforce and know it helps make the university a creative, dynamic, inclusive and innovative institution. Supporting the LGBT agenda in a variety of ways is important to us. A lot of the credit must go to those at UWE Bristol that work hard to make it such a welcoming and inclusive place through initiatives like staff and student networks.” Other employers with local links in the list included Lloyds Banking Group (3), PwC (82), HSBC (94) and Bristol City Council (98). Sign up here for business news direct to your inbox every day
Oculus gets set for virtual reality event
● Hayes Parsons managing director James Woollam has led a buyout of the insurance broker
Broker Boss who joined from school leads buyout Gavin Thompson Assistant Editor (Business) gavin.thompson@b-nm.co.uk
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HE management team of a Bristol based insurance broker has bought out the business for an undisclosed sum. It’s the culmination of quite a journey for managing director James Woollam, who only planned to stay for a couple of months when he joined Hayes Parsons after leaving school Now James, 33, has led the buyout. The business which has an insurance premium turnover of £11 million and saw 12.5 per cent growth last year, was founded by George Hayes more than 50 years ago. It built a reputation as an independent broker, providing a wide range of insurance products and risk management services for private and
“ In an era of consolidation, I am so pleased we have remained independent and therefore true to the original values of the business. James Woollam commercial clients. As well working with independent businesses in Bristol, the firm’s strategy has been to develop national specialisms in niche markets, such as marine, education, technology and property industries. It’s a plan that has helped the business to remain independent itself. James said: “In an era of consolidation, I am so pleased we have managed to remain independent and therefore true to the original values
of the business. “We have a great team and a strong reputation for customer focus and professionalism, and our acquisition gives us the flexibility to meet our aspirations and really push the business forward. “We look to the future with a great deal of excitement and I personally can’t wait to get started.” The company recently moved to new offices in Colston Tower in the city centre, meaning it starts a new chapter in a new environment. Former chairman George Hayes added: “We have always wished for the firm to stay independent, but were acutely aware of the challenges this brings with it. “James has led significant growth in the business over the last five years and so we know that we are leaving Hayes Parsons in great hands, safe in the knowledge that both clients and staff will be looked after in the manner they have come to expect from the company for the last 50 years.”
Recruitment
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Friends forging ahead after just three years A RECRUITMENT firm working in the construction sector has enjoyed a record year thanks to the fast-growing commercial building market. Despite only being founded three years ago by friends Gary Higgins and Ben Milsom, GBRS Recruitment has seen revenues hit £2.5 million and is employing new members of staff to cope with demand. And with the new nuclear reactor at Hinkley Point around the corner combined with the burgeoning commercial property market in Bristol, the pair are confident of good times ahead.
Gary, 32, said: “2014 has been a whirlwind new year for us and there is no doubt the increasing number of office construction builds has been good for business. “We’re supplying more and more staff to non-residential build projects, both commercial and industrial. We’ve definitely seen confidence blossom amongst developers and investors.” The last JLL and Glenigan’s latest UK commercial Construction Activity Index demonstrated this growth stating that non-residential new build activity is increasing rapidly,
● Gary Higgins and Ben Milsom with the value of new starts over the year to Q3 in 2014 amounting to £12.5 billion – up 5.4 per cent on the year to
Q2. The report also stated that the rise in activity has led to supply chain issues and labour shortages, which
● A COMPANY leading the development of virtual reality headsets will be part of the line-up at a new conference in Bristol. SouthWest VR Conference, organised by Stokes Croft-based studio Opposable Games, will spotlight how virtual reality is shaking up the entertainment industry and transforming the way we interact with film, games, TV and animation. The one-day event, which could become annual, takes place on February 24 in the At-Bristol science attraction. Oculus, which is behind the Oculus Rift headset, Aardman and Yogscast will be among the guests. Visitors will be able to try out some of the latest VR kit, including the Oculus Rift Development Kit 2 and Samsung’s Gear VR Innovator Edition. David Maher Roberts, creative and digital media specialist at Invest Bristol & Bath, said: “The region has a long-established industry in TV, film and animation, coupled with a thriving games industry, meaning that it is well placed to host start-ups and established brands as they move into virtual reality. “Current estimates indicate a worldwide market of $5.2bn, made up of games, film and TV, visualisation and experiential applications so this is a hugely exciting time for the region.” Visit www.southwestvr.com for more details and tickets.
Property
Grade A city centre office building sold ● A BIG grade A office building in the centre of Bristol has been sold for an undisclosed sum. The 89,010 sq ft Kings Orchard office building has been sold by DTZ on behalf of IVG to Aviva Investors, represented by Bray Fox Smith. The building, overlooking the Floating Harbour, is let by law firm Bevan Brittan on a 20-year lease and part sub-let. Mike Luscombe, fund manager at Aviva Investors said: “We are upbeat about the potential for UK real estate in 2015 and particularly key office markets outside London over the short to medium term.”
Gary and Ben have also noticed. Ben, 32, said: “Skills shortages in the construction industry are at their highest level since 2008 and this is seeing costs rising and leads times extending. “We are launching a campaign to encourage young people to enter construction and it’s been good to see some of our clients launching their own apprenticeship programmes to solve the problem.” Gary added: “The faster than expected recovery is bound to bring pressures but we must look at the positives in the construction sector. “The industry remains in a strong position going into 2015 and a 10 per cent growth in new project starts in 2014 is matching pre-recession levels. “And there has been a four per cent rise in non-residential starts, with privately financed sectors faring better than those backed by the public sector.”
www.bristolpost.co.uk/business
Wednesday, January 21, 2015
Technology
We’re on the verge of some big deals, says Blu Wireless chief Gavin Thompson Assistant Editor (Business) gavin.thompson@b-nm.co.uk
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N the early years, hardly anyone at Blu Wireless got paid. It’s not the glamorous life you might imagine at a cutting edge tech start-up. But the hard work and persistence is finally paying off for the Bristol-based company. Founder and chief executive Henry Nurser believes they are on the brink of some major deals with “big household names” for their ground-breaking kit. The company is developing technology that should vastly improve 4G phone signals without needing to dig up roads and pavements to lay cables. Henry said: “It all relates to mobile reception. At the moment 3G is okay but patchy – but 3G has relatively large range from each cell of around 1km. When it comes to 4G cells only have a range of around 2-300 metres so you get spots of good reception and areas of terrible reception in-between. “The industry recognises this problem and what they need to do is put lots of little cells around the place which are closer together. “Then the challenge is how do you link them together? The conventional technology is to use fibre or wired ADSL technology. What we realised was if you could do that using very directional wireless technology it could solve a real industry problem. All the big operators are starting to wake up to this.” Earlier this month the firm exhibited at CES, one of the world’s biggest trade shows for technology and gadgets. There Henry says they impressed potential customers and competitors alike. Now the team is almost ready with demonstration models of its ideas and will be showing them to would-be customers in the coming weeks. But already, 53-year-old Henry is looking beyond those sales to delivery – and that means recruitment. “We anticipate getting two or three big deals in next few months,” said Henry. “My challenge for this year is less about selling because we have something which is compelling and everyone wants it. “It’s all about execution and getting talented people on board so we can deliver in the next 18 months.” The firm, which creates the technology and then licences its manufacture, already employs 30 members of staff, along with a handful of contractors, but plans to expand that to 50 in the near future. It has been growing at a rate of two people a month for more than a year. And recruitment might be helped by the fact that every employee has equity in the company.
● Anastasios Karakasiliotis at work at Blu Wireless
● Blu Wireless founder and chief executive Henry Nurser
HENRY’S TOP TIP ● ”Don’t start out looking for an exit. Build value in the company and if at some point in the future someone comes in who thinks you are valuable and wants to buy you, that’s fine. “If not and you want to keep
“It’s interesting work,” said Henry. “So a lot of engineers do it because they are interested in the technology but they need to explain to partners why they aren’t at home and that’s where the equity helps.” The company was born following a
running the company, you can. “I’m a bit old fashioned. I believe it’s much better to do something difficult with experienced people and then you can create something of real value.”
conversation with Bristol University’s Joe McGeehan, who is now chairman of inward investment agency Invest Bristol and Bath. He suggested if someone could solve a problem around high-speed wireless communication elegantly,
Pictures: Jon Kent there would be big demand as wi-fi speeds were continuing to increase. Henry and his fellow founders, including chief technology officer Ray McConnell, got to work. Later they realised the same techniques would work for connected wireless infrastructure such as mobile cells. The journey has been far from easy, however. “People survived on nothing for over a year,” said Henry. “Then there was a little bit of money from some angel investors from Bath of about £100,000 and that helped start the company. We got that to last two years. We stretched it pretty thin... if you don’t pay anybody money goes further.” Eventually they found more investment in London. “We’d love to have been able to get more money locally but there’s not yet the access to capital locally,” said Henry. “That takes time, you need successful entrepreneurs feeding back into the community.” Last year the firm, based at the Engine Shed, was the single biggest beneficiary of the Bristol Post’s Going for Growth campaign, in which we helped the West of England Local Enterprise Partnership hand out up to £24 million in grants to businesses. It received £1 million in support, without which Henry says they “probably wouldn’t be here”. But given that the purpose of the grants was to create job growth, it already looks like a sound investment of public money.
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Broadband
Service ‘never really designed for business’ ● BROADBAND has never been fit for purpose in the commercial world, according to the managing director of a telecoms company that counts Bristol Airport, BWOC, auctioneers Bonhams, Cooperative and Opus among its clients. The comments from Rob Vivian, pictured, come after BT has been criticised for its slow implementation of super-fast broadband across parts of the South West. They also follow a report by Talk Talk, which revealed that 65 per cent of small businesses in Bristol believe broadband connectivity is fundamental to their growth. Rob’s company has been in business for five years, based in Tickenham, near Bristol. He said: “Broadband has always been better suited to homeowners looking to use the internet; as you can download content at good speeds but upload speeds have always been slower. “It was never really designed for businesses and fast-forward to the present and we are sending more emails and more information is being held in the cloud; and broadband has quickly become not fit for purpose for businesses.” Rob added that businesses don’t often get the best service level guarantees and that leased line options, although more expensive, could be more effective solutions for businesses, because they don’t incur as much downtime, saving businesses more in the long-term. “It’s not about broadband it’s about connectivity and the market has become very confused around this, with many firms not knowing if their communications are fit for purpose,” he said. “Running your business with broadband is like buying a Mini Metro and expecting it to do 130mph.”
4G
‘Phone companies still favouring London’ ● A NEW report has found Bristol is poor for 4G. Although EE, which has a big local base, pioneered 4G in the city, Vodafone and O2 have been slow to follow. The report said: “Bristol in particular showed alarming coverage with no access to 4G across the city (on Vodafone and O2), despite recently being heralded the new tech hub of the UK. Amy Catlow, director at Expert Market which carried out the research, said: “These findings make it clear that phone companies are still favouring London, and many places across the UK are receiving a poor service as a result.”
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Wednesday, January 21, 2015
The Big Interview
I WANT TO GIVE BACK TO CITY THAT’S Nadia Abdullah is working to make Park Street a destination for Bristolians and visitors to the city. But, as Gavin Thompson found out, her own journey has been quite a ride too.
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HE last thing Nadia Abdullah remembers before the accident is the circular badge of a Mercedes Benz heading straight for her. That was eight years ago. Now, the 25-year-old, described as a “rising star” in the city, doesn’t make long-term plans. “I don’t think that far ahead,” she says. “My life changed in a day.” The crash happened back in 2007 when Nadia’s mum was driving her to a hockey game. “There was a car heading towards us,” Nadia recalls. “Mum tried to veer to the side but there was a stream of traffic coming the other way. The last thing I remember was the circular Mercedes badge hurtling towards me. The entire front of the car came into my side.” Still in shock, after crawling from the car Nadia went to her hockey game. “I tried running for the ball and my legs gave way,” she says. “I tried again and my legs gave way again. I had shooting pains up my spine all that week but then my grandmother died and it just got overlooked in everything that was going on. I did go to the doctors but I could touch my feet – I was a ballet dancer – and so they didn’t think anything was wrong.” There was something wrong. It was four years later that the real impact of the accident was seen. Nadia was by then nearing the end of an internship with global brand experience agency Jack Morton in London, confident of landing a full-time job at the end of it. But the long hours at a desk proved too much for her injured back, which gave out two weeks before the end of the programme. “I was signed off work and had to leave my job which was devastating,” she says. Instead of staying in the family home to be looked after, Nadia decided to return to Bristol, where she had been a student, to build a new life. “I couldn’t stand my parents seeing me unable to tie my own shoes,” she says. “I’ve always been the one in my family who people turned to and now I couldn’t do anything. I moved here to recover and to find myself.” She certainly did. Despite being told she should give up dancing, Nadia persisted and won a place dancing in the closing ceremony of the London 2012 Olympics with Darcey Bussell. “I nearly bolted at audition,” admits Nadia. “All the girls were standing on one leg pulling the other over their head and I was recovering from injury and couldn’t even touch my toes. I called my friends and they said ‘you are the Rocky in this story, you’ve got nothing to lose’. So I went for it.” After the Games, she accepted dancing was something she had to stop. To maintain a connection and use her experience, she formed and ran a
Vital statistics Name: Nadia Maria Abdulla Age: 25 Place of birth: Carshalton School: Sutton High School First job: When I was 7 I worked in my uncle’s beauty shop selling little hair bands and clips! Hero or inspiration: My dad
dance company for a year, raising money for charities. While that was rewarding, it wasn’t going to pay the bills. Nadia needed a new passion and, surprisingly, found it when she took a job at Jamie’s Italian restaurant in Park Street. “I attended a Park Street traders meeting on behalf of Jamie’s,” says Nadia. “At the first meeting traders kept saying Park Street is no longer a destination point. So at the next one I went along and said, it’s going to be a long journey but for one day in the year we can put something on to guarantee this is a destination point.” That’s how Park On Park Street came about. It took six months hard work by the traders coordinated by Nadia to stage the event which saw the street turfed over and turned into a park on summer Sunday, attracting thousands of visitors. It was a tremendously busy time for the budding events manager. She joined marketing and communications agency Harvey David, based in Queen Square, after hearing a talk by one of the founders at a networking event, so found herself in a new job, organising a major event in her spare time. “It was mayhem,” she says, laughing. But there’s no hiding the pride in what they achieved. “We created it to make it a destination point and people came. It benefitted the business, they did well. “Did everyone work together to volunteer? Yes! The businesses and community worked together to put it on. Some people thought it was a council-run event but it wasn’t. “There are huge learnings we can take from it. The park wasn’t as good as we thought it would be but we had no money and we put it on.” There was, of course, that other event in Park Street last year, artist Luke Jerram’s giant water slide which made headlines around the world. Is there any resentment that he somewhat stole Nadia’s thunder? “It was never about my thunder,” Nadia replies. “At the end of the day, we were trying to put Park Street on the map and he did exactly that so I’ve got no qualms with it at all. “It did make life very difficult be-
● Nadia Abdulla, founder of
Park Street Events; inset left, Nadia ready to dance at the Olympics Main pic: Dan Regan
cause I couldn’t market anything or apply for sponsorship until he had finished because all the focus was towards his project. “Also it came out of the blue. But our mission was to put Park Street on the map and the slide did exactly that.” Nadia founded Park Street Events which she runs with colleague Rebecca Wall – “we have very complementary skills” – and the pair hope to stage the event again, but “bigger and better”. They applied for a grant from Bristol 2015, the company behind the European Green Capital programme, but were unsuccessful. “Becky is looking at other funding applications and I’m looking at sponsorship,” says Nadia. “If it doesn’t happen in 2015 it would be a great disappointment but we’ll work to make it happen in 2016. It will be a bigger and better park all the way down Park Street.” She has ideas to get all local schools involved to make it a learning event, with areas looking at food, technology
My working day My working day You wake up at? 7am What do you have for breakfast? I combine cereals: muesli, granola and Weetabix! What time do you start work? 8.30am What happens in your typical working day? Oh wow, well that depends on what project I am on. It ranges, but I usually start the morning with a team meeting, before getting my head down in the office to tick off the day’s to-do-list, the afternoon will
and a host of other things. She wants to get the traders involved again too. “We’ve got lots of plans we just need the funding behind us,” she says, and adds, “It’s about promoting Park Street, yes, but Bristol as a whole too. It’s saying, ‘look what we can do’.”
consist of couple of meetings with new businesses / key people in the city. Then it will be onto Park Street Events and how we can grow this to promoting all that Bristol have to offer and creating opportunities. What time do you go home? Usually home about 9pm (after the gym or networking meetings) Do you take work home/attend evening functions? I do attend work / evening functions, but I try not to take work home but instead finish later in the office.
2014 was a good year for Park Street. On top of the water slide and Park on Park Street, it was a finalist in a competition to find the UK’s Best High Street. Given that even within Bristol, there’s pretty stiff competition, that’s quite an achievement.
www.bristolpost.co.uk/business
Wednesday, January 21, 2015
’S GIVEN ME SO MUCH
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Sponsor profile
● An artist’s impression of the planned Mall expansion
The Mall backs award for community work
O
My downtime
says. There are some worries around night-time safety. There have been a number of assaults in Park Street in recent months but Nadia says the day and night-time businesses work much more closely now recognising it’s in all their interests to make it a safe place where people want to come. What of the future, then? Nadia continues to work for Harvey David and run Park Street Events Community Interest Company. She isn’t looking too far beyond another Park On Park Street. “I’m not allowed to run. I had to give up hockey and dancing. If I look at everything I gave up I can get really negative,” says Nadia. “But I’m a positive person. I moved to Bristol to find myself and I did. The city has given me so much. I enjoy leading and influencing in order to help promote Bristol. I want to give back to the city because of what it has given to me.” No set long-term goals, but plenty of big ideas.
in association with
ing their successes.” The Mall’s owners recently submitted plans for a major expansion that would create more than 6,000 new jobs – half during construction and the rest once it is finished – and bring an extra £215 million into the local economy. The £316 million project would see more shops, including a new major store alongside current anchor tenants John Lewis and M&S, a new hotel, apartments and more cafes and restaurants. If it secures planning approval, the ambitious scheme would be finished by 2021 The Bristol and Bath Women in Business Awards take place on March 19. Nominations have now closed but to become a sponsor or book tickets, visit the website www.bristolpost.co.uk/wiba.
SPONSORED BY
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What’s your perfect weekend? Spending some quality time with my girlfriends; having coffee and catching up, travelling to London and seeing my family, organising a uni reunion or big friends meet up in the evening and getting some of my own jobs done – I like a mix of productivity and relaxation. What’s your favourite book or film or TV show? When I was a kid I loved A Walk to Remember, now I don’t find films as inspiring, but book… The Alchemist. What are your hobbies (if any)? Dancing – ballet, lyrical, salsa, most styles really, choreography, the gym – if you can call that a hobby? Drinking coffee!?
“The judges were so positive about what we had done and really felt sense of community,” says Nadia. One of the first tasks they had to address is what is Park Street? Gloucester Road is about independent shops, Clifton Village is about aspiration. What is Park Street? “Where does Park Street fit in?” asks Nadia, rhetorically, “We connect everywhere – from the bottom of the hill where you’ve got more artistic shops and community, moving up towards Clifton at the top. “You can come here at any point of the day and have something for you. You can have breakfast at Boston Tea Party, do some shopping, lunch at the Folk House of the Guild then there’s the nightlife.” Unlike Gloucester Road where the arrival of national chains is viewed with suspicion, Nadia believes they have contribution to make in Park Street. “The likes of Nandos, TM Lewin and Wilkos want to be part of the community and they really helped us out with Park on Park Street,” she
NE of the region’s major shopping destinations has become a category sponsor for the Bristol and Bath Women in Business Awards for the first time. The Mall at Cribbs Causeway is a leading shopping and leisure destination with more than 130 stores, cafes and restaurants employing almost 4,000 people, a significant proportion of whom are women. A spokesperson for the centre said: “Women are well represented within the management team and we have an all-female marketing department. “Not surprisingly 70 per cent of the 13 million visitors to The Mall each year are women.” The Mall is sponsoring the Contribution to the Community Award, which goes to the businesswoman who can demonstrate the difference they have made to the community in Bristol and Bath over the past year. The judges will be looking for how nominees have made a difference as individuals and through the company they run or work in. “We are thrilled to be sponsoring The Bristol and Bath Woman in Business Awards 2015 and specifically the ‘Contribution to the community’ award” they added. “We look forward to championing the women who make a difference in our local communities and celebrat-
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www.bristolpost.co.uk/business
Wednesday, January 21, 2015
Focus on start-ups | Sponsored by THEME SPONSOR’S NAME HERE.
Business rescue & recovery
EXPERT ADVICE WHAT YOU SHOULD What happens to businesses when they hit a rocky patch? Rupert Janisch speaks to experts in Bristol about how they can recover
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SUCCESS is a lousy teacher. It seduces smart people into thinking they can’t lose.” Bill Gates said that, and he knows a thing or two about running a successful company. But success in business is fragile. One minute, things can be rolling along nicely. Take your eye off the ball, and trouble can start. And when things go wrong, it can happen really quickly. Cash is king for most businesses but especially for the smaller ones, who may lack assets they can finance and be vulnerable to late invoice payments as a result. Many companies are just a couple of months’ cashflow away from insolvency. Then you’re into the realm of insolvent trading, winding-up orders, creditors’ voluntary arrangements and the like. We’d rather not go there. Khurm Arshad is consultant at Lightside Financial, a Bristol-based team of debt advisers which helps people out with personal and business debt. Unsurprisingly, the Lightside offices were particularly busy during the recession but they still receive a regular stream of referrals from accountants and solicitors whose clients have run into trouble. “Lots of business can’t grow without borrowing from banks, or asset finance, or some other way of using debt as a strategy to grow,” he said. “But obviously it’s better if they don’t have to. If it is necessary, however, it’s important to constantly monitor what you owe your creditors and what your debtors owe you. Make sure that your invoices get paid, because that is your lifeline.” “A lot of the businesses we see,” says Mr Arshad, “leave it quite late to walk into the accountant’s office, put their hand up, and say they need help. It can often be out of their control – if debtors owe money and the business hasn’t got the necessary cash flow as a result, the first thing to be done is to pick up the phone and get help. Because if you owe money to your creditors, 30 days can roll by very quickly. “Businesses need to get advice as soon as they know they have financial worries, because it’s far easier to deal with it in the beginning than it is two, three or four months down the line. “The first thing to do is see where the income is. Many building companies, for example, really struggled during the recession and for them restructuring consisted of refinancing assets, putting unsecured debts into arrangements and giving them breathing space to work through the recession so that they can pick things up when work starts coming in again. “In the most extreme cases, companies end up going into liquidation or administration. We would always
“ Companies need to
identify areas of weakness within the business – it’s no good the heart being good if the lungs are going to fail. David Johnson
“ While economic growth should lead to a welcome upturn in orders, it is important for businesses, their bankers and professional advisers to be alert to the signs of overtrading.
“ A lot of the businesses we see leave it quite late to walk into the accountant’s office, put their hand up, and say they need help. It can often be out of their control.
Steve Ramsbottom
Khurm Arshad
try and avoid that but there are cir cumstances when it’s the only thing which is applicable.” Now that the economy is improving and businesses want to capitalise on the potential for growth, they should be aware of the dangers of overtrading – when a business is stretched beyond its resources, whether in terms of staff, production capacity or, importantly, working capital.
Steve Ramsbottom is a partner who covers business restructuring and insolvency at the Bristol office of accountancy firm Moore Stephens. He said: “While economic growth should lead to a welcome upturn in orders, it could catch out businesses that are not properly prepared. It is important for businesses, their bankers and professional advisers to be alert to the signs of overtrading.
“Overtrading can be addressed if identified in good time. Warning signs include: consistently borrowing to get through the month, an ever-increasing overdraft, late payment of suppliers to manage cash flows, rising customer complaints suggesting drop in quality of goods or services, late payment by customers indicating a weakness in credit control, slipping margins with orders being priced too competitively and stock shortages or excess stock. “Banks and professional advisers are in a good position to identify when a business is in danger of overtrading and help clients manage the situation. “They should make sure their clients have a robust and integrated budget, regular management reporting and a rolling 13-week cash flow forecast. “They should also consider using key performance indicators and variance analysis – comparing actual results to budget – to give greater insight into business performance. “Other ways in which advisers can help their clients is to encourage them to engage with their suppliers early to agree flexible credit terms, or consider whether the relevant business model is fit for purpose and ready for growth.” So whether it is the business owner or a professional adviser, someone involved with the company should always keep on top of the financial state of play. And the worst thing is possible is to avoid the issue. David Johnson, director at Probus Financial Consultants and regional chairman of the Chartered Institute of Management Accountants, agrees: “We are likely to continue in a very mixed and volatile world economy so it’s essential business don’t bury their heads and become complacent. “Review and renewal is key to a good healthy future and the better the information and intelligence managers have, the better the chances of doing the right and best thing for the business and its stakeholders. “I have worked with a company in the clean and dirty water industry where I happened to go in the day before the bank sent in its restructuring people to explain what was happening. The company could have been wound up because the bank was threatening to withdraw its overdraft facility. “I was able to persuade the bank that the company was viable and it could manage the cashflow – it became a rapidly-growing business within 18 months. “In this case, they needed someone to take charge of the finance function and have a respected presence in the boardroom to enable them to keep the flow of cash coming through. “Companies also need to identify areas of weakness within the business – it’s no good the heart being good if the lungs are going to fail. “Another example is an engineer and repair services company which had contracts with major brands like Sony and Panasonic to do warranty repair work, which didn’t understand where the profitability of its business was. “It’s all well and good having big brand clients but there’s no point if you’re losing money, because it costs
‘We were a bit naive in not looking ahead’ Case study ● NOW in its 25th year, Rhodes Event Management started life in 1989 as Rhodes Leisure, set up by former Gloucestershire and Durham County cricketer Phil Bainbridge. Offering corporate hospitality and activities, the company enjoyed success, and Rhodes Event Management was incorporated in 1998 with three directors, five employees, its own premises and a host of activity, team-building, entertainment and conference equipment. Things didn’t go so well when the recession of 2008 landed as Rhodes faced falling sales and with overheads of £30,000 a month – including staff, mortgages, cars, leasing agreements and directors’ salaries. “It doesn’t take too long,” said Mr Bainbridge, “of not hosting events, for £30,000 a month to start eating serious chunks out of your accounts. “Even though we had run a really good business, I suppose we were a bit naive in not planning ahead as well as we should have done. We soon found ourselves in a pretty tricky situation. “We asked the bank for more lending, based on the fact that we had around £140,000 of equity in our own units and about £100,000 of stock. But when it started raining, the banks weren’t lending out any umbrellas.
you more than you are able to charge the manufacturer. So it’s about knowing and understanding where they were making and losing money. In this case, they were busy but they were busy fools, because they weren’t working in profitable areas. “The company was going to go under and it took someone like me, who could look at the business from the outside, who could identify which the profitable parts of the business were.” While debt can become a major millstone around the neck of any business, Mr Arshad believes that it shouldn’t put business owners off borrowing, or investing. “Lots of business can’t grow without borrowing from banks, or asset finance, or some other way of using debt as a strategy to grow,” he said. “So we wouldn’t advise people not to get into debt. But it’s important to constantly monitor what you owe and what your debtors owe you. Make sure that your invoices get paid, because that is your lifeline.”
www.bristolpost.co.uk/business
Wednesday, January 21, 2015
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DO WHEN THE GOING GETS TOUGH ● Former cricketer Phil Bainbridge runs an event management business “We made some redundancies to cut costs but in 2009 the three directors decided to split the business up in order to save it, selling the units and the equipment. “I carried on with Rhodes – we had a brand which was worth maintaining – and the other two directors started up their own enterprises. It was very amicable. “The plan was to pay off our debts but continue to trade. We used accountants, and had some formalised exit contracts drawn up. “It wasn’t too formal – it was done on a friendly basis with the view that we would all carry on working together. “As it turns out, it hasn’t happened that way but there’s not been any bitterness at all. The business was in doubt at one stage but I’m very proud of what we’ve achieved since then. “In the first year after 2009, Rhodes turned over around £400,000 with me on my own, and it’s now up to £750,000 or so. “Since we split, I’ve set up several joint ventures so I have exactly the same offering of services that we had before the recession, just without the overheads. “In retrospect, we were very fortunate to have the foresight to buy our own business premises, which meant we had some equity to weather the storm. “It’s always nice to have something which can help bale you out of a tricky situation. If push comes to shove, you always have that option. Again, that issue is redressed and we’re back in our own offices again.”
Written plan the key to success... and avoidance of failure
I
Know how Andrew Fisher Executive director Alanbrookes Ltd 01934 863386 AndrewFisher@ Alanbrookes.co.uk www.alanbrookes.co.uk
difficult times the avoidance of failure counts as success – start with a written plan. There is commercially available software which will enable you to write a professional looking plan, and it is worth spending time and a modest amount of money on this.
In all cases your main business plan should be backed up by a marketing plan. You might be able to get the operations, administration and finance near perfect, but without a way to bring your products or services to market this will be wasted effort. A written plan provides a good basis for forecasting. Many businesses only produce forecasts when they have to, a typical example being to secure financial support from a bank or investor. However, forecasting is an absolutely essential business tool which will help you take the right decisions with regard to issues such as the development of new products and services, new premises, borrowing facilities, investment in plant, investing in a new IT system, or when to take on new employees. Find out where you are now. Ask
your accountant to analyse the last three to five years’ trading results, and comment on areas such as liquidity, margin, return on assets and so forth. This should include benchmarking your company against the industry standard, using readily available data from trade associations. Use this data to come up with what the next five years would look like if you made no changes to the business. Some accountants have access to software which uses techniques such as regression analysis to come up with predictions. Then factor in all the changes you are planning, such as purchasing a new asset, developing a new product, putting in new systems, outsourcing or insourcing certain activities, improving credit control and so forth. This will not only help you with a straight “yes” or “no” decision but
also a “when”. Stress test your model, by factoring in increased interest rates, below target sales, spikes in raw material prices, labour shortages, increased tax rates and anything else which could impact your business. If the short term part of the forecast shows you heading for trouble, take protective action. This will need intensive micro-managing and the key areas will be break-even point, margin and cash flow control. You may have to perform some painful pruning of the business in order to for it to live to fight another day. The skill lies in doing this without harming the medium term prospects unduly. But be quick – in an organism as complex as even a modestly sized business there is a delay in sending instructions and the ship answering to the helm.
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T IS an unfortunate fact that many businesses fail because their owners or directors have either not spotted the warning signs in time, or delayed taking action because they think things will shortly turn around by themselves. This happens to otherwise very effective owner managers because there is usually a delay between the boat springing a leak and that sinking feeling. The three keys to avoiding problems are: ● Planning ● Forecasting ● Protective action These are all inter-related and in military or sporting terms could be respectively characterised as strategy, tactics and emergency action, developing as the campaign or game unfolds. The foundations of success – and in
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www.bristolpost.co.uk/business
Business diary Western Daily Press Business Guide 2015: Keynote speaker Prof Jane Harrington from UWE will launch the annual business guide from our sister publication, the Western Daily Press. From 8am at UWE Exhibition and Conference Centre, Frenchay Campus, Thursday, January 22. Register via UWE website. LEP Digital – driving results through social media: Simply signing up to Twitter, Facebook and LinkedIn is not enough, you need to align your social media activity with your business strategy to drive results. 9.30am-3.30pm on January 22, at the BAWA Centre, Filton. Bristol PA Network: A professional forum where you can find inspiration, develop your skills and meet fellow PAs. Each meeting includes elements of learning and development, inspirational speakers and networking. January 25, 6pm at Hotel du Vin. Strictly for PAs, EAs, secretaries and office administrative professionals. Book via eventbrite.
Wednesday, January 21, 2015
Bristol Connected
Great way to make new contacts
T
AKE the chance to make new business contacts by signing up for the Bristol Post’s next networking event – Bristol Connected. The popular networking event takes place every other month at venues around the city. The next event will be held at the Bristol Hotel, Prince Street, from 6-9pm on Thursday, February 5. There will be nibbles and refreshments and it’s a great chance to make new connections and catch up with
old contacts from a range of business across the city. Guests will hear from The Bloodhound SuperSonic Car team – who are attempting to break the land-speed record with a jet-engine powered car built in their Avonmouth base. Then to slow things down a little, Rosalind Turner will talk about her unusual networking idea – netwalking. Bristol News & Media managing director Sarah Pullen said: “It’s fant-
● A past event
astic to provide a place where businesses can come together in an informal setting. There’s always a real buzz around this event so we’d love to see you there.” The Post launched Bristol Connected a year ago and the event has welcomed hundreds of people from web entrepreneurs to stair lift manufacturers, tailors to property consultants and lawyers to investors. Tickets are free but limited and usually go quickly. To sign up visit Eventbrite.
In pictures The Prince’s Trust Million Makers
JLL South West Property Market Review: Can property keep pace with the changing face of technology? And how will property requirements in a multitude of sectors, including healthcare, retail and more, look in the future? Thursday, January 29, 6pm, At-Bristol. Outlook 2015: Commercial property agency DTZ presents analysis and forecasts for the sector at The Bristol Hotel, from 8am on Thursday, February 5. 66 Queen Square Topping Out: Celebrate major milestone in the creation of the Grade A office space, which integrates a Grade II listed Georgian terrace within the new building. Thursday, February 5 at 66 Queen Square. Invitation only. Bristol Connected: Bristol Post networking event at The Bristol Hotel. Thursday, February 5, 6-8pm. Register via Eventbrite. Bristol Distinguished Address Series – Peter Mather: BP’s group regional vice president, Europe and UK, delivers the latest address in the series supported by the Bristol Post. His has overall responsibility for all BP’s activities across Europe. From 6pm, February 11, at the Glendinning Lecture Theatre, Frenchay Campus, UWE. Bristol Airport Careers Fair: Information on becoming one of the 3,000 workers at the airport. Held in the Administration Building at Bristol Airport from 4-6pm on Friday, February 6 and 10am-oon on Saturday, February 28. Email recruitment@ bristolairport.com to register, indicating preferred date.
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Start-up Drinks Bristol: UWE Enterprise hosts drinks and informal networking evening at the Engine Shed on Tuesday February 17 for all interested in start-ups and entrepreneurship. Book via Eventbrite. 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.
● From left, Vanessa Moon, Samantha Bunn, Sally Mabbutt, Anne Summers, Kally Hayes, Helen Turton and Peaches Golding at the Moon Consulting offices
Staff rise to challenge to help vulnerable young BUSINESS leaders learned about how The Prince’s Trust Million Makers programme is supporting vulnerable young people across the South West and encouraging businesses to empower and develop their staff. A group of directors and non-executives from a variety of sectors including finance, legal, software and media enjoyed a business lunch presentation at Moon Consulting’s office to hear about the trust’s flagship private sector funding programme and to discuss it with
previous participants. The Million Makers challenge empowers staff within a business to create a mini-enterprise to raise money for the trust. Staff benefit from the valuable experience of running their own businesses, raising the profile of their respective companies while funding trust initiatives to help unemployed young people into work, education and training across the region. Previous participants in the scheme were on hand to give their first-hand account of the programme,
including Ruby Harcombe from Royal Bank of Scotland whose team raised over £15,000. Attendees also heard how these funds are being put to good use, with Young Ambassador Kally Hayes telling her story of how the trust helped her turn her life around. Moon Consulting director Vanessa Moon said: “We have a long-standing relationship with The Princes Trust in the South West and we are delighted to promote the Million Makers programme to our clients throughout the region. Million
Makers benefits disadvantaged young people, businesses and staff so it’s a win for all concerned.” Helen Turton, corporate fundraising manager at the trust in Bristol said: “With more than one in five young people in Bristol struggling to find work, we are extremely grateful for the support of local business like Moon Consulting to help more young people gain the skills and confidence to turn their lives around. “We would love to hear from other businesses keen to take on the challenge this year.”
www.bristolpost.co.uk/business
Wednesday, January 21, 2015
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People
Senior director Jo first woman in top GVA role Gavin Thompson Assistant Editor (Business) gavin.thompson@b-nm.co.uk
J
O DAVIS has taken on the leadership of commercial property agency GVA in Bristol, becoming the first woman to hold the regional senior director role at the firm. Jo is already a senior member of GVA’s national planning development and regeneration team, leading the planning team across the South West and South Wales. She becomes one of nine regional senior directors at the firm, the title given to those heading up UK offices. With 20 years’ experience in the industry, she has been involved in planning many of the South West’s most prominent regeneration projects, residential housing developments, and complex brownfield site developments, working alongside companies and organisations such as HCA, St Modwen, North Bristol NHS Trust, Cubex, Linden Homes, Barratt Homes, Bloor Homes and Persimmon
“ Jo’s promotion is richly deserved. She originally helped establish the planning team here in Bristol and has developed it into one of the region’s most highly regarded planning advisers. David Mace Homes. She is a member of Bristol Property Agents’ Association Planning Forum and the Business South West Planning and Transport Committee. GVA employs 82 people in its Bristol office at St Catherine’s Court, across a range of commercial property disciplines, including agency, planning, valuation consultancy, lease consultancy, business rates, building, health and property management. GVA chief executive Rob Bould
● Jo Davis has been involved in planning many of the South West’s most prominent regeneration projects said: “Jo’s appointment is aimed at supporting a key location for us in Bristol and our future business development, a vitally important part of driving growth for all our regions.” Jo’s predecessor David Mace is stepping down after eight years in the
role as regional senior director but will continue his development consultancy work including his long standing involvement with The Mall at Cribbs Causeway. He said: “Jo’s promotion is richly deserved. She originally helped es-
tablish the planning team here in Bristol and has developed it into one of the region’s most highly regarded planning advisers, having been involved in some of the region’s strategically important regeneration sites.”
Appointments and awards ● Secure Trust Bank Commercial Finance is expanding its team in the South West and Wales with the appointment of Craig Stritch as regional sales director. Craig, top right, joins from Aldermore, where he was associate director. He has a wealth of experience in finance, including past positions at Ultimate Finance Group as regional director, and Barclays as business development manager. He will be based in Bristol working with SMEs which are looking to improve their working capital. Secure Trust Bank, the AIM-listed challenger bank, launched its commercial finance arm last year to provide SMEs with asset based lending products.
● Malachy McReynolds, third from top, has been appointed a board member of SWIG Capital, the fund holding arm of alternative finance provider South West Investment Group Limited. He joins Graham Miller as a non-executive director to the board and will aim to forge relationships with local authorities, LEPs and private sector organisations in the upper end of the South West. Malachy was previously the managing director of renowned chocolate manufacturer Elizabeth Shaw and now chairs the not-for-profit home improvement agency, West of England Care and Repair, as well as being a member of the West of England LEP. ● Leisure centre operator the Circadian Trust has given a lifetime achievement award to Ian Jones. Ian, bottom, began at South Gloucestershire Council in 1991 as a leisure engineer and became director of building and environment in 2007. The council then set up the trust to run its leisure centres. He was presented with the award by comedian Chris Barrie - who played leisure centre boss Gordon Brittas in the BBC comedy the Brittas Empire - and trust chief executive Mark Crutchley. Mark said: “Over the past 24 years Ian has been instrumental to the trust’s success, including securing a £750,000 Sport England Energy Improvement grant in 2014. More recently, Ian helped achieve several International Standards Organisation accreditations that recognise exemplary energy management and environment, health and safety systems and quality systems.”
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● KPMG has appointed Simon Pilkington new partner in its strategy advisory team in Bristol. Simon, second from top, is an experienced transactions adviser and for the 16 years has led and delivered major bids, transactions and commercial projects with public and private clients across the defence and wider government sector. He joins KPMG in April from PwC, where he co-led the firm’s aerospace and defence practice. In his new role at KPMG Simon will focus on defence, security and intelligence work. He joins the firm’s team which provides audit and advisory services to the Ministry of Defence and a range of other public and private sector clients. Bernard Brown, head of defence for KPMG, said: “Simon’s experience of advising businesses and defence organisations on complex commercial transactions and projects will help our clients to protect their margins and get the most out of their commercial negotiations.
“This is one of many such appointments we are making to ensure that we have the capacity to deliver excellent quality work for our defence clients.”
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www.bristolpost.co.uk/business
Wednesday, January 21, 2015
The back page
Your digest of the week in business
Places ● Grade II listed Coach House B&B in Bristol has been sold for more than the £895,000 asking price, in a deal brokered by property adviser Christie & Co. Built around 1750, the former coaching house has since been converted to offer 15 letting rooms, one bedroom owner’s accommodation, car park and a one acre paddock. The previous owner had been at the Coach House, Hambrook, for more than ten years and during this time developed the business into a profitable operation. Keen to take a step back and pursue other interests, he instructed Christie & Co to market the business. Sophia Sangchi, of Christie & Co’s Bristol office, said: “The sale of the Coach House demonstrates continued improvements in the hospitality market. It is great to see that following a targeted marketing campaign, we were able to bring strong offers to the table. “I am thrilled for new owner Mr Chandrasekhar — his enthusiasm for the business was apparent from his first viewing and I am confident he will make every success of the Coach House.” ● Bristol City Council is looking for developers to turn a former primary school into affordable homes. It has appointed property agency Colliers to market the former Dunmail Primary School site in Southmead. Mayor George Ferguson said: “We are looking for developers who have the track record and expertise to create exemplar sustainable housing in a development which will act as a beacon of environmental and social excellence – demonstrating what can be achieved. “The chosen developer will be presented with a great opportunity to showcase an innovative approach at a time when the eyes of the world are on Bristol.” Interested parties are asked to register to receive marketing information and to attend a presentation to bidders at the M Shed on Friday, January 23. ● Pet charity Blue Cross is to open its first store in the market town of Chipping Sodbury. The charity, well known for the
● Ashfords staff hand over £62,000 to Children’s Hospice South West
● Besley Hill staff at their new office rehousing and the treatment of pets including cats, dogs, rabbits and horses is moving into the former Co-operative Bank store on the High Street. It has taken a sub-lease until June 2018 on the ground floor store with a sales area extending to 595 sq ft at an annual rental of £15,000. Hartnell Taylor Cook LLP advised the Co-operative Group and Johnson Fellows advised Blue Cross. ● The Knowle, Bristol, branch of estate agents Besley Hill has moved to new offices in Wells Road. Rowena Brewer, has taken over the franchise. She said: “We felt the offices needed updating and we weren’t able to do that at the previous location so I am extremely pleased to have moved to bigger, brighter premises with a new look.” Rowena has worked in the property market for12 years. “I thought it was the right time in my career to set up on my own and taking over here was a great opportunity,” said Rowena. ● A North Somerset spa has
● The Thespa spa at DoubleTree by Hilton, Cadbury House, has undergone a makeover undergone a makeover of its own. Thespa, which can be found at DoubleTree by Hilton, Cadbury House, has been refurbished with new furniture, lighting and decoration. Spa manager Amy Weston said: “The spa is really popular with local clients, hen parties and hotel guests alike so the new refurbishment will be welcomed by many. “We’ve gained an enviable reputation for being one of the best spas in the region and the work will ensure the venue continues to offer the best relaxation and pampering around. “The new lighting is fabulous and makes a real difference to the atmosphere in the treatment rooms and we’re in love with the glitter wallpaper! It’s the attention to detail that keeps people coming back to us time and again.” ● TV post-production company Evolutions has opened its second office in Whiteladies Road, Bristol, just a year after opening in the city. Situated at 38 Whiteladies Road, the new building will provide
additional capacity for the business. Managing director Simon Kanjee said: “Evolutions Bristol is doing better than we could have ever expected and has meant that we now must open a second site to accommodate that growing demand. Our investment in creative talent and facilities here is testament to how much we believe in the market in the South West.” Andy Smith of property consultants Knight Frank, which advised Evolutions on the acquisition of the 2035 sq ft Victorian villa, said: “Having recently let the 11,000 sq ft office at 11-13 Whiteladies Road to Evolutions it was great to be asked to acquire this additional space for them.”
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● Law firm Ashfords raised more than £62,000 for Children’s Hospice South West, its charity of the year for 2014 – enough to pay for two specialist nurses for a year. Eddie Farwell, co-founder and chief executive of the Wraxall-based charity, said: “On behalf of all the children and families who receive our special care, I would like to thank each and every member of the team for their commitment and support. “They have helped to create many, many smiles and should feel very proud! It was indeed an incredible year.”
Success ● Ian Yarrow and Lee Lawton have been named Ventrolla Installers of the Year 2014. Ian and Lee work as a team, covering the Bristol, Bath and Wessex areas and have over 20 years’ experience repairing and installing timber sash windows for Ventrolla. Customers have described them as “a credit to the business” and “extremely professional, very hard working and a pleasure to have in the house.” Operations manager Rachael Tranter said: “Ian and Lee are conscientious, good natured and are an invaluable part of the team. Customers regularly comment on their high quality work and friendly service and I am delighted they have received the recognition they deserve with this award.”
0.5 1.6 1.8 0.5 3.99
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David Beaumont Area director SME Banking Lloyds Bank Commercial Banking
provide local firms with the chance to expand, with a number of supply chain opportunities available. There are also a number of SME incubators and initiatives across the city designed to help new and existing companies receive the support and funding needed to get established and grow their business. Having the correct form of funding is a vital part of ensuring that companies make the most of new growth opportunities. Initiatives such as the Funding for Lending Scheme enables firms to receive discounted lending, and local initiatives such as the Re-
gional Growth Fund offer grants and loans to new or expanding SMEs on a regional level. Another option for businesses looking for a more flexible form of funding is an invoice finance facility, which allows businesses to borrow against client invoices, generating capital that can be invested in expansion opportunities before payment has been received from the customer. When approaching any form of lender it is vital businesses are able to demonstrate a clear plan for how the money will be used and how long it may take to pay back. Funding isn’t the only support for growth, however, and at a Lloyds Bank event in Bristol 57 per cent of firms said they would prefer to speak to an external mentor. A popular way company owners can gain this sup-
port is through one-to-one mentoring with someone outside their firm. They can provide an objective perspective for new ideas and strategies as well as help business leaders determine the parts of their company they need to focus on to grow. Mentoring is an invaluable tool for entrepreneurs who have a product idea but are unsure of how to turn it into a viable business. Many incubator schemes offer mentoring as a key part of their service, recognising the guidance of an experienced business leader can be as beneficial to new enterprises as funding. Whatever a business’ goals might be, it is important Bristol firms remain focused on growth in 2015 and continue to use the array of support to capitalise on all expansion opportunities.
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Corporation tax % Main rate
21
Small profits rate – below £300,000
20
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Business current accounts
1.01% State Bank £10,000 deposit of India 0.25% £1 deposit
Business savings accounts 1.9% Secure Trust £1,000 deposit Bank State Bank 1.49% of India £10,000 deposit
Opinion
OR many businesses the start of a new year is an opportunity to assess their performance over the past 12 months, and look at how to develop and grow during the next year. For many Bristol-based firms 2014 was a strong period of growth, but according to the latest Lloyds Bank Business in Britain report, confidence amongst companies in the South West has fallen in the past six months, from 58 per cent in July to just 43 per cent in December 2014. Despite this slightly pessimistic picture, expectations for sales, orders and profits remain above their long term average for the region, meaning that there are still a wealth of opportunities for businesses to grow. External projects such as Hinkley Point C in Somerset have potential to
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Still plenty of opportunities for business growth
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Petrol prices .05
107 114 117 60
Unleaded
.33 Diesel
.81p Super unleaded
.55p LPG
Source: PetrolPrices.com