Business 29 January 2014 by BGSD-cs

FIND A NEW JOB

WOMEN IN BUSINESS

SHOW GOES ON

Looking for a new job? Don’t miss our 8-page supplement – inside

Successful women should be mentors to others in their careers - page 2

Bristol’s biggest business show will be held again in March - page 5

Business bristolpost.co.uk

www.

JAN 2014

SUCCESSFUL SUCCESSION

TAILOR-MADE FOR THE JOB Having spent hours as a child in her mum’s shop, Jayne Wolstenholme was ready to take over. Has your business got a succession plan? EPB-E01-S3

www.bristolpost.co.uk/business

Wednesday, January 29, 2014

Awards

Sponsors

Successful women can help others

Promotion all taken care of

Gavin Thompson Assistant Editor (Business) gavin.thompson@b-nm.co.uk

HE founder of a successful exporting firm is encouraging people to enter this year’s Bristol and Bath Women in Business awards. Susie Hewson founded Natracare, which makes organic cotton tampons, 25 years ago because she felt there was a need the market was not meeting. “I didn’t decide ‘I want to be a business woman, what business should I start’, but felt there were no products available to meet a need and was driven to find a solution,” said Susie. But it was hard going to begin with. “It was a long learning curve. I had to learn everything. For example, our products are classed as medical so I had learn about regulations and licences in different countries,” she said. Natracare, which employs 10 people from its Kingswood base and turns over around £11 million a year, now exports to more than 60 countries. Susie said women still had a tough time breaking through to the top level because of the pressures to perform a “dual role” at work and at home. “There are industries where it is very difficult, such as law, for women

● Susie Hewson, centre, at last year’s Business Awards

THE CATEGORIES ● Woman of the Year, sponsored by PPC ● Young Entrepreneur of the Year ● Mentor of the Year ● Contribution to the Community Award, for women who have made a difference to Bristol or Bath ● Women in the Workplace Award, sponsored by Crest Nicholson, for companies that show flexibility and adaptability to the employment of women ● New Business of the Year, to stay on a level playing field because of the hours expected,” she said. “It can be difficult for women to also play the role society requires of

sponsored by HSBC Commercial Banking ● Business of the Year, sponsored by City of Bristol College ● Award for Innovation ● Marketing Campaign of the Year ● Female Apprentice Development Award, sponsored by the West of England Local Enterprise Partnership ● Outstanding Contribution to Business in Bristol or Bath sponsored by UWE Bristol

them – to look after children and families – and follow a significant career path. “But there are businesses which

are more flexible in terms of home working, childcare and make it easier for people to stay in their careers.” Susie said those who have been successful should give others a leg up. “People should mentor more. I have mentored a couple of businesses and it doesn’t take that much time.” And she added women should not be put off thinking they can’t win. Last year Natracare won the International Trade Award at the Bristol Post Business Awards – beating Wallace and Gromit creator Aardman into second place. Susie said: “People think ‘I can’t enter’ or ‘I won’t win’. But it’s not just for people who own a business but women who maybe work for big firms but make a contribution. I would encourage them to go for it. ” To enter the awards go to www. bristolpost.co.uk/wiba. The deadline is February 21.

● PPc is one of the leading print and promotions companies in the South West, helping clients achieve their business, brand and marketing goals; a ‘one stop shop’ to ensure a smooth, fast, efficient and cost-effective solution. With an experienced graphic design team and extensive knowledge of the print industry, PPc is only too happy to help clients from concept to delivery to best meet budget demands. PPc provides clients with an extensive range of print products from booklets, brochures, business cards, flyers, leaflets, letterheads, NCR books & pads, newsletters, magazines or bespoke spot colour & spot uv to large format printing for any requirement. Correx and signage, a vast range of banners to complete store/office re-branding is undertaken. PPc operates a full direct mail service to clients, undertaking all aspects of mail-outs. From getting your stationery and envelopes printed, to data handling & lasering, sorting, machine or hand enclosure and posting to simple postcard or one-piece mailers. With vast experience in this field you can relax knowing you won’t blow your budget and deliver on time. PPc has access to an extensive portfolio of promotional gifts; whether you just require pens for your counter-top, conference gifts, Christmas gifts or something more bespoke for your high-end corporate clients, PPc has factories operating Internationally and is able to offer quality goods at the best prices. With clients from private, public and political sectors to the financial & hospitality service industries, why not call PPc today to see how they can help you?

Outsourcing

EPB-E01-S3

Global accounting team celebrate 27% growth THE Bristol office of accountancy and business advisory firm BDO LLP has announced its global outsourcing team achieved 27 per cent growth in the last year. The team has doubled in size to more than 30 over the last three years. It was set up five years ago to help multi-national companies minimise the complexities and risk of accounting and complying with local laws when trading overseas. The team provides services including direct and indirect tax compliance, bookkeeping, management reporting and payroll and employee benefits, utilising local experts in the countries where their clients operate. It is managed by the team in Bristol

who work closely with BDO’s international network of more than 1,200 offices in over 140 countries. Duncan Ashman, the partner who heads up the global outsourcing division at BDO in Bristol, said he was confident the business was likely to grow even faster as the global economic recovery gathered pace. He said: “The service has grown particularly strongly in North America and in California’s Silicon Valley on the back of referrals from our international network and word-of-mouth endorsement. “We are delighted with the impressive growth that we have experienced to date and we have a number of exciting new business opportun-

ities in the pipeline. We have expanded the team as new clients have come on board and existing clients develop their international footprint further in emerging markets. “There have been some major wins in recent years, including listed businesses within the telecoms, high-tech and pharmaceutical sectors. We have ambitious plans for further growth and are expecting to double in size over the next three years.” BDO is looking for applications from school leavers and graduates who have an interest in a career in accounting or project management and being part of the local team delivering services to international businesses.

● The global outsourcing team of the Bristol office of BDO LLP

www.bristolpost.co.uk/business

Wednesday, January 29, 2014

Space

Satellite kits aim to speed up missions

Gavin Thompson Assistant Editor (Business) gavin.thompson@b-nm.co.uk

BRISTOL company is taking a different approach to the space industry, designing modular satellites that will be cheaper and easier to

build. The space division of SEA, based in Coldharbour Lane, is developing OmniSat architecture, a kit of nano-satellite parts that can be tweaked to build small spacecraft to orbit the Earth. These mini satellites, weighing 10-50kg, could be used for: ● Tracking ships and aircraft around the globe ● Communications with remote areas ● Low budget space technology demonstrations ● Looking for asteroids that could smash into Earth. Project manager Dr Lucy Berthoud said: “Faster, better and cheaper is hard to accomplish in the space industry, where long development times are the norm, because each new mission is designed from scratch. “The OmniSat architecture is designed to cut the time from concept to launch down to a year, which will enable a new wave of exciting mis-

● SEA is aiming to cut the time for space missions from idea to launch to just 12 months with its nano-satellite kit - the satellites could be used for everything from personal communications to asteroid hunting

sions to be developed.” Dr Claire Parfitt, design lead on the systems for the project, added: “The flexibility of OmniSat’s modular architecture means the same parts can be reconfigured to fulfil the requirements of many different kinds of space mission, including those that haven’t even been thought of yet.”

The inspiration came from desktop computers, according to electrical design lead on the project Andrew Bacon. He said: “Desktop PCs have a wide range of off-the-shelf standard size cards that slide into motherboard slots to increase functionality. This means that the electronics can be assembled and tested by trained

technicians very quickly.” The idea is being developed under a programme funded by the European Space Agency. SEA, which employs 230 staff in Bristol and Somerset, hopes the satellite will be useful for missions that need to be turned around quickly because being able to build them from a kit of off-the-shelf

Get in touch

Best deals - How the numbers stack up Business current accounts

Business savings accounts

1.01% State Bank £10,000 deposit of India

Cambridge & Counties 1.80% Bank £10,000 deposit

0.25% £1 deposit 0.12% £1 deposit

Co-operative Bank

United Trust Bank

1.55% £500 deposit

United Trust Bank

1.50% £500 deposit

0.10% Unity Trust £25,000 deposit Bank

1.50% Shawbrook £5,000 deposit Bank

0.05% £1 deposit

State Bank 1.49% of India £10,000 deposit

Allied Irish Bank (GB)

1.36% 0.05% National £500 deposit Counties BS £1,000 deposit

Inflation (CPI)

2.0 0.6 0.5 3.99

Weekly earnings

Corporation tax

23 20

% Main rate

Small profits rate – below £300,000

Base interest rate Employer NI rates .8% % Standard rate on Ave mortgage rate %

13 10

earnings above £148 per week

.4%

Employees in salary-related pension scheme earning up £770 p/w

Petrol prices .67p

129 137 137 72

Unleaded

.10p Diesel

.64p Super unleaded

.27p LPG

Source: PetrolPrices.com

Assistant Editor (Business) Gavin Thompson Call 0117 934 3336 Email gavin.thompson @b-nm.co.uk Twitter @gavin_thompson1 Writer Rupert Janisch Email business@ b-nm.co.uk Advertising Robert Rodgerson Call07828 941469 Email robert.rodgerson @b-nm.co.uk Advertising Jane Chapman Call 01179 343025 Email jane.chapman @b-nm.co.uk Advertising Simon Coy Media Sales Executive - Business Call 07736 900 705. Email simon.coy @b-nm.co.uk

EPB-E01-S3

Source: Business Moneyfacts moneyfacts.co.uk

parts will cut the time needed to prepare. Radiation hardened spacecraft typically take three to five years from concept to launch, the OmniSat architecture intends to reduce this to 12 months. The satellites will be light enough to piggyback on bigger space missions to get into orbit.

www.bristolpost.co.uk/business

Strategy

Support

Investment

MP urges mayor to back south of city

Cash opportunity for product developers

● CITY MP Dawn Primarolo has called on mayor George Ferguson to support a new enterprise area for south Bristol. The Labour MP made the call after learning that representatives from the West of England Local Enterprise Partnership had been meeting with Treasury officials to develop the idea of a South Bristol Enterprise Area. However, this is missing from the LEP’s draft strategic economic plan. The Government plans to allow councils in the Bristol area to keep income generated from growth in business rates across five designated enterprise areas and the Temple Quarter enterprise zone during the next 25 years. But Ms Primarolo, pictured, fears her constituency is missing out. She said: “The mayor has confirmed to me that he wants to link the new Filwood Green Business Park, Hengrove Park and other key development areas. But does his lack of enthusiasm mean that my constituents will miss out on new jobs? “I would be very happy to work with the mayor to ensure that the benefits of growth are shared more fairly and the creation of an enterprise area would be a significant first step.” Previously, in a letter to Ms Primarolo, Mr Ferguson refused to commit to a south Bristol enterprise area, which could benefit from the City Deal money and other initiatives to encourage employment. The City Deal is an agreement between Government, councils in the Bristol area and the West of England LEP to devolve more financial powers. Under the proposal, the growth in business rates from enterprise areas across the area, plus the Temple Quarter ‘enterprise zone’ in Bristol, will be pooled and then reinvested locally. Currently, rates go into a central Government pot before being shared out across the country. The designated enterprise areas are Avonmouth, Severnside, Emersons Green, Filton, Bath City of Ideas and Junction 21, near Weston.

● NEW product development consultancy Pera Technology has launched a search for Bristol’s best-kept secret inventions. The move follows the local launch of a three billion euro fund for SMEs, which came into place on January 1 as part of the European Union’s Horizon 2020 package of business support services. Pera Technology has been supporting Bristol businesses to secure funding, develop new products and improve processes for four years as part of a previous EU programme and now wants to make the most of its successor. Candice Tyler, South West regional manager, said: “Horizon 2020 presents an enormous opportunity for Bristol manufacturers. “Whether business owners have ideas sitting on the shelf gathering dust, or are already undergoing feasibility testing – with new product development programmes lasting anywhere from two years up to 15 years in sectors such as aerospace and medical – the chance to secure up to 100 per cent funding for research and development cannot be missed.”

EPB-E01-S3

Wednesday, January 29, 2014

ERHAPS an alternative title for this piece could be the fictional Mary Poppins exhortation “well begun is half-done”. The non-fictional Sir Richard Branson has stated that the secret to a successful start-up lies “in the art of delegation, risk-taking and surrounding yourself with a great team, working on projects you really believe in”. There is a continual stream of start-up businesses, but the failure rate is high, and even if a business gets through the first crucial three years, the owners end up disappointed because the business is not performing for them as they had hoped. There are all sorts of reasons for this but the most common malaise is best expressed by the complaint that “I don’t own the business, the business owns me”. This arises from the fact that the owner spends too much time working in the business and not enough time working on the business. That phrase has become something of a truism, but it is worth repeating

● From left, Colin Richards, Barclays business manager, David Turner, director at WBC Automotive Ltd, and Richard Crew, senior Barclays business manager

New premises High-tech HQ puts firm out in front Gavin Thompson Assistant Editor (Business) gavin.thompson@b-nm.co.uk

BRISTOL motor vehicle repair firm has invested £1.7 million in new high-tech and eco-friendly premises and body shop. WBC Automotive Ltd was established in 2002 following a management and staff buyout from Nationwide Accident Repair Service plc. The new investment will see the company move into bespoke 20,000 sq ft premises in Caxton Business Park, Crown Way, Warmley. The premises have been built and refurbished to WBC Automotive’s specifications to incorporate an efficient, state-of-the-art body shop. Director David Turner said: “This

is a great opportunity for us to deliver a client experience which is second to none. “The premises will house the latest diagnostic and specialist repair equipment with a separate 6,000 sq ft aluminium repair facility, while at the same time introducing an eco-friendly environment aimed at driving down energy costs.” The firm secured finance from Barclays for the expansion. “We’re delighted that Barclays has backed our ambitious plans to create an energy-efficient body shop fit for purpose in the 21st century,” said David. WBC Automotive Ltd deals directly with major insurance companies including Aviva, Allianz Cornhill, Churchill, Catlin and is one of only five AMG Mercedes accredited structural aluminium approved body shops in the UK.

The firm has recently gained full Jaguar and Land Rover aluminium accreditation in addition to VW and Audi, Seat and Skoda and taken this opportunity to fit 6.5 ton lifts and geometry equipment to support light commercial approval for Mercedes-Benz and Volkswagen light commercial vehicles. WBC Automotive has recently won the contract for Avon and Somerset Police and Rolls Royce among others and has hired 10 new staff to join the team of 40 to meet current demand. Richard Crew, senior Barclays business manager in Bristol, said: “This is an important investment for WBC Automotive Ltd which sets them up as one of the most innovative motor vehicle repair firms in the South West.” The new premises will be officially launched in February.

Start as you mean to go on... Know how Andrew Fisher FCA Executive Director Alanbrookes Ltd AndrewFisher@ Alanbrookes.co.uk 01934 863386

because it is so incredibly common. In many cases, all the owner has ended up with is a job, but with no paid holiday or sick leave. There will always be a demand for, say, good plumbers and good IT consultants, but just because you have the requisite skills in your chosen field does not mean that you can turn this into a successful business.

There are any number of business publications and DVDs that take you step-by-step through the setting-up of a real business that is capable of running effectively without the original owner’s input (our favourite being Michael Gerber’s The E-Myth), but what we sense that most potentially successful entrepreneurs are after is someone to turn to when they face new challenges or need to make strategically important decisions. This person can best be described as a mentor. A mentor is very different from a trainer, technical consultant, professional adviser or management consultant. They act more like a sounding board for ideas, providing honest and

constructive feedback, and are particularly useful at offering wise and dispassionate counsel at times of stress, such as a period of rapid growth, or rejection of a request for additional bank funding. The problem is that these experienced mentors can be expensive, and start-up businesses often have little capital. Websites such as mentorme.co.uk can give you access to a wide range of mentors, from both commercial and not-for-profit organisations. There is also a Government-backed initiative offering a mentor as part of a start-up loans package (www.startuploans.co.uk). Some firms of chartered accountants offer free business advice for start-ups (see www.icaew.com and search for business advice service). Many pro-active accountants will

Legal

Solicitors ‘must stay disciplined on finance’ ● BRISTOL law firms are growing profits but need to refocus, according to Law Society research. The findings from the Law Management Section’s annual financial benchmarking survey, sponsored by Lloyds Bank Commercial Banking, shows fee income for legal firms increased by an average 4.1 per cent in 2013. Average profit per equity partner rose by 3.6 per cent to £121,731. The survey showed a greater number of practices in Bristol and Somerset had converted to a limited company or LLP, but there was a fall in equity partner capital. Craig Baldwin, of Lloyds Bank Commercial Banking, said: “Solicitors are likely to get busier with a revival in house move transactions and rising levels of confidence. However, solicitors in Bristol will need to maintain financial discipline for sustained success.”

provide a mentor to hold you to account at regular intervals, and to accompany you to crucial meetings. One or two even offer a full first year mentoring package to start-ups which meet its criteria (search on the web for Entrepreneurs’ Scholarship Award for an example). An alternative way of rewarding a mentor is to give them a meaningful stake in the business in return for ongoing support. People are instinctively averse to giving away equity, but 60 per cent of a great enterprise is better than 100 per cent of a one-man band-type business. Unless you are already an experienced entrepreneur, new businesses are more likely to succeed with a mentor to hand. Start-up businesses need a unique differentiating factor to succeed and a mentor will help you identify what this is and how to market it – or expose the lack of a unique selling point, in which case you will need to go back to the drawing board!

www.bristolpost.co.uk/business

Wednesday, January 29, 2014

Business services

Strategy

Minister offers help in the search for growth ● TRADE Minister Lord Livingston is writing to every mid-sized business offering them support from UK Trade and Investment. Mid-sized businesses are vital to the Government’s plan to reduce the deficit and create jobs. The CBI estimates that, nationally, if they reach their potential, it would be worth £20 to £50 billion to the UK. Russell Jones, UKTI regional director, said: “There are many of these businesses in the South West, some of which export already but need to do more, and others that are ready to export but have yet to think about an international growth strategy. We want to inspire these companies and help them to unlock their full potential growth.”

Get the bigger picture. Business news from Bristol, Bath, Gloucestershire and Somerset. Scan to sign up for news direct to your inbox

● Organisers Jack and Neil Kinnerly from Business Sorted at last year’s event; below, exhibitors and delegates at the event

Networking Bristol’s biggest business show is back for more Gavin Thompson Assistant Editor (Business) gavin.thompson@b-nm.co.uk

HE city’s biggest business show takes place again in March, with a new name but the same appeal as a one-stop-shop for business owners. The Bristol Business Exhibition, formerly the Best of Bristol Business Exhibition, returns to Ashton Gate after two successful shows last year. The show attracts more than 100 exhibitors, and 500-800 delegates. Organiser Neil Kinnerly said: “This is a free event for delegates. It’s a one-stop-shop for all the business services that they might require. “This is Bristol’s biggest business show.” This is the 16th time the exhibition

has taken place. The event is a place where people can meet contacts and make deals. But it is also ideal for people thinking about going into business or who are just about to launch, and high street businesses, such as restaurants and hairdressers, according to Neil. “There are IT companies, web designers, marketing companies, social

media specialists, email marketing firms, banks and more,” he said. “All the services that a small or medium sized business needs. “And it’s all free to delegates. Entry is free, parking is free.” Neil started the exhibition as a way for clients of his own business to network and meet face to face and it has grown and grown ever since. As well as the chance to find new

suppliers and network with other business people, the exhibition features seminars. This time the guest speaker is Don Cameron, managing director of Cameron Balloons, who was recently appointed MBE in the New Year Honours. Don will share his own business success story, as the leading maker of special-shaped balloons. Guy Longmore from RE Cloud will host a seminar on cloud computing. Bedminster printing company Brunel One is sponsoring the exhibition. Bristol News and Media, publisher of the Bristol Post, will also have a stand at the show. There is still space for more exhibitors to take part. Anyone interested can find out more at www.bristolbusinessexhibition.co.uk. The exhibition is on Tuesday, March 4, 10am to 3pm at the Dolman Exhibition Centre, Ashton Gate.

Technology

Firms slow to adapt sites for mobile users ● ONLY one in four Bristol small and medium-sized business websites are mobile-friendly, according to hibu. A snapshot survey involved 100 Bristol businesses. Similar surveys in other cities put Birmingham and Liverpool top of the league at 34 per cent. John Salsbury, South West regional manager at hibu, said: “Anyone who has visited a website that isn’t mobile-friendly knows how frustrating – or even impossible – it is to browse and navigate it on their mobile device. With consumers increasingly searching local businesses on their smartphones and tablets, it’s crucial firms have websites that are mobile-friendly.”

Building links

Public houses

Science park welcomes Romanian ambassador

Work under way on £140,000 new look

Bonnie Dean, chief executive of the park, said: “We are honoured to be hosting Dr Jinga and believe that science and technology is a good platform to build relations with Romania. “The ambassador himself has an impressive scientific education having graduated in physics at the University of Bucharest and worked as a physicist engineer at the Institute of Nuclear Power Reactors in Pitesti. “Romania has a notable history of science and technology and it is

reported to have one of the highest numbers of computer programmers in the world.” Mark Walton, managing director at Amdaris, said: “Dr Ion Jinga’s visit provides a great opportunity to shine the spotlight on the work we are doing to help solve a range of IT challenges for our global clients. “Central to this approach has been our expansion across Eastern Europe where we are continuing to invest and expand our highly qualified team of IT developers.”

● From left, Amdaris director Andy Rogers; Mark Walton; Dr Ion Jinga; Richard Pitkin, Innovation Centre director, Bristol & Bath Science Park; and Amdaris director Vlad Nanu

● A CLEVEDON pub is closed for two weeks while it undergoes a £140,000 transformation. Leaseholders Mark Green and Sarah Aston Davies and owners Punch Taverns are investing in The Bristol Inn, in Chapel Hill. Mark, who took on the pub in October, said: “There will be major work conducted throughout to define individual areas and create a snug, dining, lounge and sports area, each with their own feel.”

EPB-E01-S3

ROMANIA’S ambassador to the UK visited a hub of science and technology businesses in Bristol. While his country has been in the news more due to often near hysterical immigration concerns of late, at least one part of Bristol is keen to build business ties with the country. His Excellency Dr Ion Jinga visited Amdaris, an IT solutions company which has an office in Romania, at its headquarters at the Bristol and Bath Science Park in Emersons Green.

www.bristolpost.co.uk/business

Wednesday, January 29, 2014

Focus on start-ups | Sponsored by THEME SPONSOR’S NAME HERE.

Commercial feature

Hold-ups with MoTs drove us to set up our own vehicle test lane

Know how William Sanzo Director Eurotaxis

Gavin Thompson Assistant Editor (Business) gavin.thompson@b-nm.co.uk

Further growth is very much achievable for us

YATE taxi and coach-hire company is opening its doors to other businesses after investing in a commercial vehicles MoT

lane. Eurotaxis has been a phenomenal success story since it was founded by Juan Sanzo in 1980. It has grown from a one-man operation, after Juan bought a “battered old” Austin for £200. Now the firm has 180 vehicles – taxis, buses and coaches – and a turnover of £5 million a year. It employs 95 people and uses a number of other self-employed taxi drivers. That growth, however, caused Juan a headache. Every commercial vehicle has to be MoT-tested each year. And unlike with a personal car, you cannot take it to many garages. There are a select number of specialised testing lanes in Au-

“ You can never get an appointment – it was a real problem. And when you did it was taking four hours to take a vehicle for testing and then bring it back. So we decided to invest £150,000 in building our own lane to do it in-house. Juan Sanzo thorised Testing Facilities. Difficulties in getting Juan’s fleet of vehicles to the nearest centre, and lack of available appointments, prompted Eurotaxis to come up with a radical solution. Juan said: “You can never get an appointment – it was a real problem. And when you did it was taking four hours to take a vehicle for testing and then bring it back. “So we decided to invest £150,000 in building our own lane to do it in-house.” It took six months to get through the red tape and logistical hurdles. But the lane finally opened for business in November, just before the firm’s 33rd birthday. The benefits for Eurotaxis are the time and cost savings in not having to get its vehicles to the test centre.

● Eurotaxis directors Keith and William Sanzo And to cover the running costs and eventually recoup the investment, the firm has opened up the lane to other companies. It has a VOSA tester on site three days a week, but is hoping to extend that to Monday to Saturday once it has enough customers coming in – that could add up to 80 tests each week. Juan says the MoT lane will never be a big profit-maker for the company, but has mutual benefits for his business and other firms in the area that can make use of it, paying just a small pit fee on top of the VOSA charges. The MoT lane is just one of the

services Eurotaxis offers over and above a typical taxi firm. It runs a commercial-vehicle recovery service for breakdowns, can carry out repairs and maintenance work, and can collect and return vehicles for their MoTs. And its coach hire arm takes people across the UK and Europe. Eurotaxis undertakes around 8,000 to 10,000 taxi journeys every week, and buses about 5,000 children to and from school. Juan said: “The key to growing the business has been hard work and family.” His wife Anne is the managing director, sons Keith and William are

directors and son-in-law Toby runs the workshop. Juan said: “It is very important that it is a family business. It gives you trust, and know how, from length of service. For example, Keith has been with the business for about 20 years.” As to his own involvement as company secretary, Juan, 63, has no plans to retire. He said: “I enjoy this too much.” And he still gets behind the wheel regularly. Juan said: “I still drive every day – buses, taxis, whatever. I enjoy the driving. There is no hassle. There is no stress. Driving is driving.”

ITH the Government’s continuing frugality, it may seem that the transport industry has been regulated an exponential

amount. Rising costs of fuel coupled with increasing traffic congestion mean that for many operators profits are being squeezed like never before. Established more than 33 years ago and still a family-run taxi and PCV operator, Eurotaxis has seen many changes, the largest of which was amalgamating two sites and moving to a purpose-built transport yard in Yate. Only last year we were based on a small, dusty yard in Westerleigh with our maintenance facilities based eight miles away, and our nearest VOSA Authorised Testing Facility 16 miles away in Avonmouth. If you think that some PCV vehicles will only do eight miles per gallon, we were wasting a small fortune in fuel and wages commuting daily between the sites. After 13 years, we finally found a suitable location and moved to a purpose-built transport yard in Yate with on-site facilities. However, we still had the 32-mile round trip nearly twice a week for a PCV vehicle to go to the ATF for its MoT. We have invested £150,000 in a new ATF lane at our depot in Yate. The ATF lane is now open to the public and to other operators. Since its opening day we have seen all kinds of vehicles on site, from horseboxes to coaches, from HGVs to buses. Some individuals or operators who do not have maintenance facilities have even brought their vehicle to us for its MoT preparation where we have guaranteed it will pass its MoT. Alongside our ATF lane we have invested in our vehicle-recovery infrastructure with a Mercedes Actros and a Mercedes Atego. So far there have been numerous HGV and PCV operators who have used our maintenance and recovery services as a one-stop shop for their vehicles. Our other significant investment last year was building a classroom and becoming an authorised centre to give the Driver Certificate of Professional Competence. We see that growth – although difficult at the moment – is, with the right infrastructure and commitment, very much achievable.

Not Just Taxis

EPB-E01-S3

eurotaxis.com 0333 666 66 66

Recovery & Repairs

Mini Buses & Coaches

Taxis & Weddings

ATF - HGV & PSV MOTs

www.bristolpost.co.uk/business

Wednesday, January 29, 2014

In pictures Bristol’s business community Business Networking International (BNI) group launch

● Paul Trinder, Right At Home

● MORE than 50 business owners attended a lunchtime networking meeting at Goldbrick House on Park Street to launch the newest Business Networking International (BNI) group in Bristol. Named after the current England cricket captain, BNI Cook is the eighth chapter in the city and already has 22 members, ranging from sole traders to larger businesses with seven figure turnovers. The launch event, which took place on Wednesday January 22, saw 38 other companies visiting the group, to see the benefits of the structured networking and to make new business contacts. BNI is a 29-year-old business and professional organisation that allows only one person from each trade or profession to join a chapter. Across the UK and Ireland its members in 52 chapters last year passed almost 700,000 referrals worth more than £330 million of business, making each seat worth an average of over £27,000 per year. Kay McMahon, director consultant for BNI in Bristol, said: “It was a great event and we are looking forward to welcoming back many of these visitors, and some new ones, to our next big launch event on Wednesday February 5th.” For more information on how to visit BNI Cook please contact kay@shiftkeycoaching.co.uk.

Get in the picture

Send us photos from your event, with names please, to business @b-nm.co.uk

● Bev Spring, Transact Bookkeeping; Andrew Stinchcomb, Integrity Financial Ltd; Sarah Owen, Referral Institute

● Paul Godsland, NatWest

● Martin Bell, Footworks Orthotics

● Rob Gilbert, Clifton Consulting

● Mark Wyatt, Telecom Network Services; Sean Cox, 3D Interiors

● Andy Paterson-Jones, New England

The Style Forum launch ● A model on the catwalk at the launch of The Style Forum at Berwick Lodge near Cribbs Causeway. The group aims to bring together young people with employers in the fashion and beauty industry Pic: Dan Regan BRDR2014012 7E-007 EPB-E01-S3

● For the full story got to: www.bristol post.co.uk

www.bristolpost.co.uk/business

Wednesday, January 29, 2014

Focus on start-ups | Sponsored by THEME SPONSOR’S NAME HERE.

Focus: Succession planning

GOOD PLANS CAN BRING SUCCESS A failure to think about the future spells the end of many businesses which could have otherwise survived through the generations. Rupert Janisch looks at the importance of proper succession planning.

N October last year this paper published a feature on family businesses, describing how they make up the majority of private companies in the UK. But even though we British often prefer to do business with family members, when it comes to handing over responsibility for running these companies, statistics show that things tend to falter. According to the International Centre for Families in Business (ICFB) – based in Staffordshire but with an office in Bristol – three-quarters of the 4.6 million private sector enterprises in the UK are family fir ms. Making a massive contribution to the UK’s economy, it’s not just micro businesses which feature in these figures. In fact, family businesses make up nearly half of all mid-sized businesses in the UK and there are 1,000 family firms with more than 250

“ I’ve been around the block a bit and so has Mark. We’re not going to hand the business over willynilly to someone who’s not competent.”

EPB-E01-S3

Debbie Fortune employees, the statistics show. But of these companies – three million of them on our shores – the ICFB estimates that some 60 per cent fail to plan formally for succession, making a successful handover from one generation to the next highly unlikely. So these next figures will come as little surprise. Only three in 10 companies make it to second generation family ownership and less than one in 10 makes it to the third generation. Of course, there are many pitfalls facing family businesses when a change happens at the top of an organisation. Just because established hierarchies in the family structure may work well in a business, it doesn’t mean that there is a natural progression when that hierarchy changes. Family members employed in a business may not be suited to run-

It’s not so easy for jeweller to ring the changes ● THE owner of a 304-year-old Bristol business is facing an agonising conundrum – how to retire. Paul Davis has been managing director and owner of Parsons Jewellers, in the Galleries shopping centre, for 15 years. He was the first owner outside the Parsons family since the business was founded in 1700.

ning the company, especially at short notice if the head of the company dies suddenly. So it may well be that, especially in the current economic struggle, running the business on a daily basis is enough to worry about, without planning for a future structure which may seem like a lifetime away. And in any case, are these really the types of conversations – potentially hurtful, stressful and difficult – which a business owner would want to have with family members already involved in the company? However, the fact is that, in the same way that a will is vital to protect the future of a family’s estate, there is a great deal to lose by not planning for every eventuality. Not only in terms of the future

Case study At 62, and having had health problems, he wants to retire. But like many smaller jewellery businesses, any potential sale is complicated by the stock. “I have got a large stockholding, which is my pension fund,” he said. “I need someone to be able

prosperity of the business which, if planned properly, can potentially provide income for generations to come. The tax implications of winding up a company because its succession planning has not been sufficiently organised are also significant. So planning ahead, through talking with the other family and non-family members of the business to find out what they want from the future, what their goals, ambitions and business talents are, will pay dividends and contribute to the handover going smoothly. Debbie Fortune, 58, and her husband Mark Hayward, 64, run Debbie Fortune estate agents, based in Wrington, North Somerset. They opened the agency in January 2009

to buy out that stockholding. I have no other pension.” Paul says succession is a growing problem in his industry. He had hoped to follow the Parsons tradition and pass the business on to one of his four sons. But he said: “They’re not interested. They have their own careers. One is a policeman, one a lawyer, one an IT consultant and

and it now employs 12 people, having recently expanded after buying Setter and Lea in Chew Magna. Of the 12 employees, one is Debbie’s eldest son Ben Fortune, 38, who joined the company in 2011 and who the couple feel will be a worthy successor to carry on the family name. Although Debbie and Mark have no plans to retire, Ben is being given shares on a yearly basis as part of his salary package . It’s not happening in a rush. Mark’s parents both lived into their nineties and his father worked until his mid-eighties. So Mark has no plans to retire quite yet. But he appreciates the importance of getting the ball rolling early and the succession plan, itself more than two years in the making, is starting to be realised.

● Paul Davis in his shop Pic: Dan Regan BRDR20140120E-004 one a jeweller, but he runs a successful jewellery business in London that makes more money than I do.” The easiest thing for Paul to do would be wind down the stock and close the business, then put the proceeds into a pension. But he’d much prefer to find a buyer who could take on the business as a going concern.

“It has to be a gradual process,” Mark said. “We need to know that the people we have in mind for the company’s future are the right people. So unless we start doing something now, the business can’t go forward with confidence. “Our staff are all aware of the plan, but not the detail. Getting them involved is crucial and the shareholders’ agreement is a key to all of this. We are looking at giving selected long-term employees a share of the business and having a plan in place lets them know that they are going to have a job in place in 10 years’ time.” Mark and Debbie both plan to remain involved in the business and are aware that it wouldn’t make sense to place all the onus on Ben for the company’s future.

www.bristolpost.co.uk/business

Wednesday, January 29, 2014

IN THE GENERATION GAME

Expert eye Hannah Petherick Solicitor, family and wealth management team email: hannah.petherick @gregglatchams.com

Plan for after your departure

● Jayne Wolstenholme is transforming Frocks and Tails on Cotham Hill into a men’s hire business; below, young Jayne with mum Angela Haig-Harrison at Main picture: Dan Regan BRDR20140121B-007 their old shop; far right, Frocks & Tails and the old Frocks Antiques shop

Jayne makes herself at home as she takes over her mum’s shop Case study kitchen and I said, ‘Oh, go on then’.” Angela has wound up the old business and Jayne has bought the stock. She is leasing the premises from mum. So although Angela’s business is now closed, the spirit lives on as Jayne opens a Bristol branch of her Men’s Hire brand. “Regular customers won’t really see the difference,” she said. Jayne has spent several months observing the business. “I started going in the shop and watching and learning. It’s about understanding the differences. Something like evening tails in Thornbury you might get asked for once a year; in Clifton you get people looking for them last-minute for a function. So I needed to know what to stock.”

Jayne worked in Australia in a sales role for names including Hugo Boss and Jigsaw for a number of years before coming back home and going into business. Her franchises offer last-minute hire services as well as home visits

and are run by full-time mums. But her taking over mum’s store might not quite be the retirement Angela had been planning. Jayne said: “I’ll have more to do, so mum is helping me more with the children.”

“I’ve been around the block a bit,” said Debbie, “and so has Mark. We’re not going to hand the business over willy-nilly to someone who’s not competent. Ben has strengths in certain areas – he’s an excellent estate agent but needs to build experience in business skills.” Some basic rules of thumb apply to succession planning, taking into account the obvious, which is that every business is different, with unique structures and relationships that are bound to influence this plan.

Firstly, it is vital to start planning before those plans need to be executed. So if you want your children to take over the business, and they want it too, the earlier you start putting a plan into place the better. And in terms of execution, an early transfer saves money on tax and enables you to change tack more easily if anyone changes their mind. The second rule is not to try to do it yourself. Using an accountant or a legal firm – Debbie and Mark use the Your In-House Lawyer service from

Gregg Latchams – will help inform your decisions on what’s best in terms of tax planning, as well as minimising the potential for conflict by having everything formalised and recorded. Company owners should also be honest, perhaps brutally so, about what’s best for the business. For example, there’s no point handing everything over to the favourite son if he’s not up to the job – it will only backfire further down the line. As with many aspects of business,

communication is crucial to success. Those affected by generational changes may not like a business owner’s decisions, but clarity and openness go a long way to mitigating any disappointment. And it’s also important not to neglect the other employees of a firm – they are stakeholders in the business, too, who have an important part to play in its future. It may not be appropriate to let them know exactly what your future plans are, but taking them into account is worth doing.

EPB-E01-S3

● FOR Jayne Wolstenholme, her latest business acquisition has a familiar feel. That’s not surprising as it’s something of a homecoming. Jayne, 41, has just taken over her mum’s shop. And it’s a shop where she spent many hours as a child, as it has been in the family since 1976. Mum Angela Haig-Harrison ran Frocks And Tails formal wear hire shop from the premises in Cotham Hill. But at 63 she was keen to retire. Jayne is no stranger to the industry. She started her own Men’s Hire business, specialising in men’s formal wear, in Thornbury, and has since franchised the brand. After some initial reluctance from Jayne, the succession has been fairly straightforward. “Mum had been thinking about retiring,” said Jayne. “I wasn’t sure. I had been thinking about how I would fit it into my business model. Then one day we were sitting in the

HAT is “succession planning”? Put simply, I mean planning to match your aims for your business with the aspirations of your successor. But who is your successor? For many owner/manager businesses, it is a purchaser, perhaps a competitor, supplier or joint venture partner but it could be a fellow shareholder, the management team backed by a third party funder such as private equity backer or perhaps an employee benefit trust. The key document for the passing of the reins is a sale and purchase agreement. For others the obvious successors are family members, children most often and the key document is your will, trust documents and articles of association of the company. If you are one of those business owners who find it difficult to contemplate the time when you will no longer be in charge, this is the time to reflect on what the business will look like when you are no longer there and how best to preserve the value that you have created into the next generation. But just as you must examine your own motivation so you must consider those of your successor. You can start by putting yourself in the shoes of your successor: in what sort of order would you like to take over? This means addressing the issues that are likely to reduce the value of your business and to promote the points that are likely to add to the value of the business. Then put time, energy and sometimes money into making sure those issues are attended to. At the same time if your plans are to hand on to the family, it is best to speak to those involved. You may have always assumed that your children wish to take over the business. They may not. They may prefer a share structure which enables them to draw an income from the business whilst leaving its management, and hopefully expansion, to professional directors. It is not always possible in these situations to do fairness by equality between all children: allocation must also give credit for work and time devoted or to be undertaken as part of the settlement to avoid resentment. You may want to consider protecting the business from claims from spouses or spouses of children on relationship breakdown by entering into pre/post nuptial agreements.

www.bristolpost.co.uk/business

Wednesday, January 29, 2014

The Big Interview

THE WOMAN WHO PUTS THE CARE With 1,200 staff, 3,000 clients and four care homes, looking after the elderly is a serious business for Helen Joy. But that doesn’t mean you can’t smile about, as Gavin Thompson discovered

AVING the surname Joy perience but about understanding brings certain expectations how people behave in certain of a person’s character. And situations. We are looking for in the case of Helen Joy, kindness.” boss of Brunelcare, you So instead of looking at CVs – “what don’t walk away disappointed. can you learn from a CV?” – Helen Her office is nothing to write home looks at personality. about – nice views across the rooftops The firm uses psychometric tests of east Bristol, but little on the walls initially, then in interview they ask aside from a planner with boardroom questions that find out who you are. dates, and a couple of birthday cards “Tell us about a time when you let on the filing cabinet. somebody down”, “tell us about a But Helen’s personality has enough time you are particularly proud of ”, colour to brighten things up. “tell us about a time when you saw When we discuss the organisation’s something you disagreed with”. future plans, which she hopes will “We go into great detail about how include a new care home if they can they acted and what they thought,” find the money, Helen says: “If I win says Helen. the lottery next week, I would like to “Winterbourne View [a local care build a new care home.” home where people with learning When I point out most people would disabilities were abused in a care perhaps start with a long holiday, new home, the abuse only exposed by Panhouse or flash car, she responds: orama] shows you that you can have “What’s the use in having lots of someone with 30 years experience money?” who is a sadist. This approach may seem “We can train to make up surprising for a busifor lack of experience but nesswoman, so it is you can’t train kindonly right to point ness.” out that BrunelAs the boss, Helen care is a charity. sees instilling that Name: Helen Joy It was formed in ethos as a key part Age: 63 1941, during the of her job and Born: Bedminster, Bristol Second World talks to all new School: Ysgol Llewelyn War, in Bristol employees about Primary School in Rhyl and by “a group of it during their Kenilworth Grammar School people who got induction. First job: Nurse together to try “I set the tone Hero or inspiration: In to support for the whole business, an ex colleague older people”. company. I like to who was amazing and “We’ve never think of our staff showed me what great really strayed far as professional and leadership was all about. from that initial competent but delivIn my personal life, mum purpose,” Helen exering that support and and dad. plains. “We are a local care as if that person charity all about helpwas their best friend.” ing older people make the The care industry has a most of their lives.” high staff turnover, about 25 per The company has three divisions. It cent a year, but, perhaps because of owns about 1,000 sheltered housing that recruitment strategy, Brunelflats in Bristol, where people live care’s is better, at 17 per cent. independently but have access to a “It means somebody stays with us shared lounge and a member of staff for about six years on average which, will be on site every day. in our profession where there are a It looks after people in their own lot of young people, we think is quite homes, usually those with substanan achievement. tial care needs. “We are quite emotional people and And it runs four care homes, two in the work can be emotionally very Bristol, one in South Glos and one in draining, we have to give each other a Glastonbury, specialising in patients lot of support.” with severe dementia. Care work creates controversy It is a charity, but doesn’t do a lot of when something goes wrong. fundraising. Most of the income Not just around the scandals such comes from social services and from as Winterbourne View, or abuses of people who pay for services, a growtrust such as thefts from a patient’s ing area. purse that wind up in the justice Helen would like to see more system and then the front pages. But money raised, but is reluctant to also in the way care is given. spend money on a fundraising team There was a recent storm around in the face of tough competition from short timed visits to patients, with other charities, preferring to use incarers pressured to dash from one come on caring for the 3,000 patients, person to another regardless of their or clients, instead. needs. “A well run charity is a very well Helen says planning client visits is run business,” she says. “logistically very complex” but “It has to be.” stresses the team is flexible and reThe organisation’s unusual, spond to changing needs, even if it perhaps enlightened, approach means the managers getting stuck shines through when it comes to rein. cruiting new members of the “Every day there will be someone 1,200-strong team. we go to see who does not answer the “We look for the kind of people who door,” says Helen. keep their promises, who go the extra “They may have just gone out but mile,” she says. “It’s not about exyou have got to have a procedure in

EPB-E01-S3

Vital statistics

My working day Wake up: 6.30am Breakfast? Cup of decaf coffee Start work? Depends; usually around 8.30am Typical working day? Totally variable from doing a presentation to new staff, to looking at the accounts to talking to relatives in one of our care homes; no two days are the same Go home? Usually around 6pm Take work home/attend evening functions? At least one evening function a week and I generally work on the train (an hour’s journey to Exeter). Probably work for 2-3 hours most weekends.

www.bristolpost.co.uk/business

Wednesday, January 29, 2014

BACK INTO CARE BUSINESS “ The Winterbourne

View scandal shows you that you can have someone with 30 years experience who is a sadist. We can train to make up for lack of experience but you can’t train kindness Helen Joy

My downtime

Business diary South West Infrastructure and Economic Question Time: RCIS-organised discussion around challenges and opportunities facing South West in funding and delivering infrastructure fit for the future, 3-6pm, today, January 29, Holiday Inn, Bristol. Old Down Manor Showcase: Complimentary showcase of venue for corporate events. today, January 29, 3.30-6pm. Email: olivia@olddownmanor. co.uk. Spike Design: Open Wednesday: Free business advice and hot-desking for creative start-ups, today, January 29. Call Jane on 0117 929 2266. FSB South Gloucestershire seminar: How small businesses can get the best from LinkedIn. today, January 29, 6.45-9.45pm, Aztec West Hotel, Almondsbury, BS32 4TS. Register at www.fsb.org.uk. Ready for business workshop: Introductory workshops for anyone who is exploring self-employment or starting a business at Brave, The Coach House, Upper York Street, Bristol, 10am-4pm, tomorrow, January 30. Free. Contact readyforbusiness@ businesswest.co.uk. Young business forum: Institute of Directors Bristol and Bath Young Business Forum, networking for start-up businesses. The Waterhouse, Bath, 6-8.30pm, tomorrow, January 30, meal included. Call 0117 3707785 for tickets. FSB Bristol branch networking event: Free for members networking, Wednesday, February 5, 9.30-11.30am, Regus, Friary, Temple Quay BS1 6EA. Register at www.fsb.org.uk. Get Connected Bristol: The Bristol Post’s first regular business networking event. Wednesday February 5, 6-8pm, BDO offices, Finzel’s Reach, Bristol. Invitation only, contact gavin.thompson@b-nm.co.uk. Wednesday@6: Bristol Institute of Directors host informal free networking at The Radisson Blu from 6-8pm, February 5. Call 0117 3707785 to register. Bristol Chamber of Commerce networking breakfast: Liaise with like-minded people and enjoy a full English breakfast in Goldbrick House, 7.30-9.30am, Thursday, February 6. £11 members, £20 non-members. Contact: events@ businesswest.co.uk. Chinese New Year Reception: Bristol China Partnership welcomes the Year of the Horse with gala banquet at Zen restaurant on Wednesday, February 12. Members £40, £50 non-members. Email: dianne. francombe@bristol-chinapartnership.com or call 0117 956 7096. 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.

EPB-E01-S3

My perfect weekend: Cinema or theatre on Friday night. On Saturday, early morning swim, singing lesson, lunch in town and meet up with pals in the evening. Sunday is all about getting out for a walk on Dartmoor or by the sea followed by Sunday lunch and TV to relax before the week begins. Lovely weather helps to create the perfect weekend! Favourite book or film or TV show? A Town like Alice; have read it many times and still enjoy it; I am a romantic and love happy endings! Hobbies: Singing, crosswords, current affairs and interior design.

place for what to do and that will take longer. “Or if somebody falls and you need to stay and wait with them for an ambulance, you would ring the team leader and somebody from the office could go out and take over delivering care. The managerial staff have to be flexible enough to do that.” Dementia care, one of the organisation’s areas of expertise, is rising up the political agenda. Bristol has declared the desire to be a “dementia friendly city”, but Helen believes there is a lot of work to be done. “We have built a number of extra-care homes and it made me realise how important design is to helping people find their way around,” she says. Things such as using colours and objects such as shelves and plants to help people know where they are. “Even dinner plates. If they are just white it’s hard to see the edges.” She says: “If Bristol is going to become a dementia-friendly city we need to look at our signs and street furniture as well as trying to help people understand more about dementia. “Even in the medical sector, they understand about the disease but we need to understand how to talk to people with dementia.” She gives the example of asking someone “don’t you remember” an occasion or person, which immediately makes them anxious. It’s a problem that will only grow. Helen says that once you are 80 there is a one in five chance of dementia, over 90 that’s one in three. As life expectancy grows, so will dementia. But it’s a challenge Helen wants to continue meeting. She spent 15 years as a staff nurse in Manchester, followed by 10 years in the business world, for firms including Radio Rentals and Scottish Power, setting up factories, call centres, running a consultancy business. Then along came the perfect job, combining the skills of her diverse background. She’s been doing it for 10 years and, at the age of 63, is not stopping anytime soon. “Why would I retire when I love what I do? I just love it. There will come a day when I will have to recognise that someone else would do the job better. You can’t be so arrogant to think you can’t be replaced, but for now I am enjoying it and hopefully adding some value.”

JOIN TODAY AND SAY YES TO

SAVINGS! Costco Wholesale is a membership warehouse club, dedicated to bringing our members quality goods and services at the lowest possible prices. We provide a wide selection of merchandise, plus the convenience of speciality departments and exclusive member services, all designed to make your shopping experience a pleasurable one. We are confident in the quality and value of our products, and we stand behind them with our guarantee of satisfaction.

Join in the warehouse or online: www.costco.co.uk/membership

CAFÉ PASS THIS VOUCHER ENTITLES THE BEARER TO A SNACK* FROM OUR CAFÉ Valid until 31/03/2014

*Snack comprises of Hot Dog & Soda, or Bakery product & Tea/Coffee Only available at Costco Bristol. Membership Required.

The annual membership fee for Standard Trade Membership is £20 (plus VAT). Executive Trade Membership is an additional £30 (plus VAT) upgrade fee a year. Each membership includes a complimentary card for your spouse or domestic partner. The annual membership fee for Standard Individual Membership is £25 (plus VAT). Executive Individual Membership is an additional £30 (plus VAT) upgrade fee a year. Each membership includes a complimentary card for your spouse or domestic partner. Membership Criteria applies. Membership must be obtained before purchases can be made. Costco accepts cash, debit card, cheque or American Express

Costco Bristol St Brendans Way Avonmouth Bristol BS11 9EZ T: 0117 916 0130 E: marketing116@costco.co.uk

EPB-E01-S3

Central Membership: 01923 830 477 www.costco.co.uk