Business 30 July 2014 by BGSD-cs

BUILDING BLOCKS

CARE MARKET MOVE

GOOD NEIGHBOURS

How house building is driving our economy – p8&9

Website could be RightMove of the care home market – p5

Social network aims for world domination, in a nice way – p11

Business bristolpost.co.uk

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JUL

2014

SPECIAL REPORT

JAM TOMORROW Preserves firm shows how to get exporting - and make your profits grow – see page 2

www.businesswest.co.uk

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#GetExporting

www.bristolpost.co.uk/business

Wednesday, July 30, 2014

Exporting

Global spread Jam and juice firm enjoys 10 years of export growth Assistant Editor (Business) gavin.thompson@b-nm.co.uk

OU don’t have to be a manufacturer to become a successful exporter, as Bristol-based jam and fruit juice business Stute Foods

proves. The family business was set up in 1969 by Denis Hybs, then technical director at Robertson’s Jams in the city. That firm had been working with German jam-maker Stute, but decided to pull out of mainland Europe. But Denis had built a strong relationship with Stute and decided to set up a UK business to maintain that. Stute Foods was born, first in Park Street and now in Sunderland Road, Clifton. Its products – jams and fruit juices – are made by its German namesake but then sold from the Bristol office to the UK and, increasingly, around the world. The company’s turnover has grown to £4.5 million, thanks to that successful export strategy. Managing director Laurence Hybs, Denis’s son, said: “Over the last 10 years our exports have grown and grown. They are now more than 50 per cent of our business, whereas they were two or three per cent.” One of the most impressive aspects is the number of markets Stute Foods has gone into. Rather than focus on one or two, the firm is selling across the world in countries including Nigeria, Kenya, Morocco, China, Australia and Canada. It has largely avoided mainland Europe, partly due to language issues. “We took the decision to only print our labels in English, rather than have to create new ones for each country,” said Laurance. “So we are in countries where English is either the main language or widely spoken.” The company has found UK Trade

✔ Don’t expect business dealings to move quickly, the Arabic approach to time is much more relaxed and slower than that in Western cultures. Don’t be surprised if your contact takes calls on their mobile phone, or accepts visitors into their office during your meeting; they don’t mean to be rude. ✔ Men in the Middle East claim a more modest amount of personal space than that which is usual elsewhere. Relax when an individual steps closer as it is normal in Arabic societies. Men may hug and kiss other men on the cheek on greeting.

● Laurence Hybs, MD, and Mark Turner, national sales manager

#GetExporting Business West is campaigning to increase the number of exporters in the region. Under the banner #GetExporting, the goal is help 2,020 companies to grow their business through exports by 2020. Business West and UKTI can offer a range of support for firms looking to export. Find out more online at www.businesswest.co.uk.

and Investment’s services a help getting into some markets. Laurence said: “We were looking for a supplier in Hong Kong so we paid them to do some research and they came back with four wholesalers, one of whom we came to an agreement with, and they have been taking our products like clockwork ever since.” Entry into other markets has been less planned. “We sell in the supermarket in Gibraltar and many Moroccans working there buy our jams and take them home,” he said. “We had a call from a company in

Picture: Michael Lloyd BRML20140728E-001 Morocco asking if we could sell to them. We said yes, but there’s a 70 per cent import tax in Morocco. But because we sell jam made for diabetics, they were able to get the tax lowered to 10 per cent.” One area Laurence recommends getting help is letters of credit, a guarantee from a bank that you will get paid “If you are doing business with someone halfway around the world and you can’t get paid in advance, you need some sort of guarantee.” he said. “You can do it yourself, but it’s easy to make a mistake, so it’s better to get it done properly.”

Leading the way overseas BRISTOL-based business organisation Business West is going international with its support services. It has teamed up with Bedminster-based company Flying Penguin Enterprises to provide business solutions to the Zubair Corporation in Oman. The aim is to help Zubair encourage and achieve growth and development of small and medium sized Omani businesses and to help identify support services and solutions related to water resource management and railway training. Gaining knowledge of the local market will in turn allow Business West to spot opportunities

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Thinking of exporting to the Middle East? Here’s some things to Consider ✔ Do understand ‘Wasta’ before attempting to do business in the Middle East. Wasta is Arabic for connections, clout, influence and is part of the culture in all Arab countries. It is vital to ensure that you are speaking to the decision-maker.

Gavin Thompson

Top tips for Middle East exports

www.businesswest.co.uk www.businesswest.co.uk www.businesswest.co.uk

in the country for Business West members and exporters back home. Managing director Phil Smith said: “Research shows that collaborating overseas is fantastic for achieving high-growth within businesses and we are thrilled to have joined forces with a leading Omani company, to help the growth of SMEs and infrastructure in Oman. “At Business West we are excited to share ideas and build on each other’s skill sets. “This new venture shows that by taking our services overseas we are practising exactly what we preach, linking into our current #GetExporting campaign and truly showing that the only way is export!”

✔ When doing business with an Arabic woman, on the other hand, as a man, don’t stand close to, stare at, or touch a woman – this would be seen as very disrespectful. ✔ If you’re a woman remember to take a headscarf, in case you visit a mosque or a crowded souk, as a show of respect. ✔ When conducting business, it is customary to first shake the hand of all males present. Don’t shake hands with a woman unless she extends her hand to you. ✔ Allocate plenty of time for refreshments, or coffee, before attempting to engage in business. It is important to first establish respect and trust. Don’t drink alcohol during a meal before you know your host is happy to do so. ✔ Don’t display the soles of your feet or touch somebody with your shoe as this is often considered rude. This includes sitting with your feet or foot elevated. ✔ Make the effort to build friendship and trust during business. Many in the Middle East do not separate professional and personal life. Doing business revolves much more around personal relationships, family ties, trust and honour.

● Phil Smith, Business West managing director, with Nick Wilton, of Flying Penguin

#GetExporting #GetExporting #GetExporting #GetExporting

www.exportbritain.org.uk

● By Sarah Hildersley, above, of Business West. www.businesswest.co.uk

www.bristolpost.co.uk/business

Wednesday, July 30, 2014

Aerospace

Profits soar Plane parts maker flying high despite military dip Gavin Thompson Assistant Editor (Business) gavin.thompson@b-nm.co.uk

LANE parts maker GKN saw its pre-tax profits rise a healthy six per cent, in a further sign that the commercial aerospace sector is

soaring. But, reflecting the challenges faced across the sector, the military side of the business struggled. GKN employs 1,500 in Filton manufacturing and assembling wing parts for customers such as nearby Airbus, and another 275 in Western Approach, Severn Beach, working on wing design and production using cutting edge composite materials. The group reported pre-tax profits up to £340 million for the year ending June 30. Sales slipped slightly from £3.87 billion to £3.83 billion. Results were hit by the strong pound to the tune of £24 million, but it didn’t look as bad on the figures because last year the firm suffered a one-off £25 million restructuring cost. Overall performance was lifted by GKN’s strong car parts business, but the locally-based aerospace division saw its commercial business – parts for passenger planes – grow five per cent. Revenue on the military side shrank by two per cent, however, reflecting defence spending cuts around the globe. That means the overall aerospace sales figures were down slightly across aerospace to £1.1 billion, from £1.12 billion the year before. Speaking about the company’s overall results, chief executive Nigel Stein said: “This is another good performance, particularly in GKN Driveline which delivered 11 per cent organic sales growth. “We have continued to outperform our key markets and report good underlying financial results in spite of sterling’s strength and some end market weakness – we expect these trends to be maintained in the second half. “GKN is continuing to make encouraging progress.” Looking ahead, GKN expects the commercial aerospace sector to continue to do well, but the military side to remain a challenge.

● Chief executive Nigel Stein says GKN is continuing to make encouraging progress after a six per cent increase in pre-tax profits

Insurance

‘Business as usual’ after firm bought out ● AN insurance company is being given a makeover after it was bought by a rival, but bosses say that it’s business as usual for customers. Giles Insurance Brokers, based in Gloucester Road where it employs 32 people, is being renamed under the Arthur J Gallagher brand after it was bought by the firm last November. The £233 million deal put it among the top three commercial retail insurance brokers and added the 36 Giles branches to its global network. Regional director Gary Fletcher said after the takeover, the first step was to turn two businesses into one. He said: “Following the acquisition, our top priority was delivering a successful integration of the two businesses with minimum interruption to our valued customers. “We’re delighted to announce now the completed rebrand of Giles Insurance Brokers to Arthur J Gallagher across the UK. “For our customers in Bristol, it is very much business as usual. “That said, we are now able to significantly widen our offering, providing more choice and better value for our business partners.” The combined UK retail division of Arthur J Gallagher controls £1 billion of insurance premiums and employs 2,600 people. Internationally, the group employs 4,500 staff in countries including Australia, Singapore and Chile.

A spokesman said: “Commercial aircraft production continues to grow strongly. Both Airbus and Boeing continue to benefit from increasing deliveries and a record order backlog, and both have announced plans to increase production levels for single aisle aircraft in the future. “There is also increasing demand for strong global suppliers to support their expansion plans. “Military spending remains under pressure, largely driven by cutbacks throughout the USA and Europe.” The firm said the outlook for 2014 was modest sales growth, reflecting these conflicting trends.

“ This is another good performance, particularly in GKN Driveline which delivered 11pc organic sales growth. Nigel Stein

Part of the Local World group

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EU pay ruling

Holiday season could bump up wage bill how commission schemes can build in some sort of averaging provision that makes appropriate allowance for periods of annual leave. “As well as being costly, this could prove to be an administrative nightmare for employers. “It could also cause havoc for employers in sectors where commission forms a key part of their reward strategy such as the motor industry, the utility sector and estate agents.” She added the ruling, which was the result of a British Gas sales consultant taking the company to court arguing his commission was part of his normal pay, was likely to be extended to overtime. “Not only will this increase the cost of annual leave,” said Sarah, “it could give rise to substantial claims of back pay.”

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BUSINESSES are being warned to beware that their wage bill could be higher than expected as we enter the summer holidays. A recent European Court of Justice ruling stated workers should receive their normal remuneration for annual leave – which includes both basic pay and commission. It could have a big impact on firms that pay bonuses, commission and overtime payments which are not usually included in annual leave pay packets. Sarah Driscoll, Employment Solicitor at Clarke Willmott, which is based off Victoria Street, Bristol, said the court regarded annual leave as an important social right and staff should not be financially worse off for taking it. She said: “Employers across the county will need to give urgent and serious thought to

ACHIEVE INCREDIBLE

Insurance

SUCCESS

ONLINE IN 2014

WITH OUR PROVEN 3 STEP PROCESS ● Office manager Martin Barnett with Barbara Probert, a director and widow of founder Dave Wyatt; below, the shop in the 1970s and a cutting from the Bristol Post in 1988 showing Pic: Michael Lloyd BRML20140728A-001 Barbara and son Mark on the firm’s 25th anniversary

Firm marks 50 years since dad’s bold step

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

HORTLY after the birth of your second son may not be the wisest time to leave your job and go into business on your own. But it’s a decision that paid off for Dave Wyatt and his family. Dave walked away from a safe job at Liverpool Victoria to start his own insurance company. The decision proved a sound one, as the firm is now celebrating its 50th anniversary. Dave, pictured, died in 1987 but his eldest son Mark now runs the business. Widow Barbara recalls how it all began: “Our second son Richard had just been born and was about five days old when my husband came up and said ‘I think I could do something on my own, what do you think?’. We have two sons and a mortgage. “I said, let’s try it because in years to come we may say ‘what a pity we didn’t’.” Dave left his job and opened his business – Mark Richard Insurance, named after both sons – initially working from his front room. He later opened premises at 282 St

John’s Lane in Bedminster where it remains today, although branches in Nailsea, Staple Hill and Warmley have since been added. Now it is run by Mark, but Barbara said there had been no pressure for them to take on the business. “We always felt if they wanted to do it they would but they didn’t have to,” she said. “But one day Mark went along and Dave came home and said ‘he’s very, very keen’ and that’s how it went.” Mark, 54, said the insurance landscape now was unrecognisable from when his dad started the firm. He said: “Mark Richard has always prided itself on providing a high quality local ser-

vice, personalised for people’s needs. It’s what drove the company in its early years, and we work hard to maintain the tradition 50 years on. “So although nowadays we deliver services online just as people expect, we’re also available face-to-face or at the end of the phone.” Mark said the fir m’s longevity was almost matched by the staff ’s loyalty. He said: “Over 50 years the business has provided employment livelihoods for scores of local people. It’s remarkable how many of them have stayed with us for such a long time. “We have a few staff who joined us straight from school and remain in post now, decades later.”

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Thanks a million to fuel card team as milestone reached ● A FUEL firm is celebrating reaching the milestone of supplying a million litres of diesel sold on its fuel cards in one week. Thomas Silvey Ltd, of Yate, started the new Silvey Fuel Cards department four years ago with two staff, a telephone and a handful of customers. Now it employs 11 staff and looks after 2,000 businesses across the UK. Managing director David Hatherell said:

“The fuel card team has done us proud. Through competitive pricing, hard work and first-class customer service they have consistently grown the business and this milestone is an accolade to their commitment to our customers and the business”. The firm was founded in 1870 trading commercial coal in Bristol to large employers such as Wills Tobacco and Frys Chocolate.

www.bristolpost.co.uk

Wednesday, July 30, 2014

Retail

Website

Care homes Easy way to help find quality places for loved ones

One in four of us visit city’s pop-up shops ● ONE in four Bristolians have visited a pop-up shop in the past year. The figure, from research by economists CEBR, says 26 per cent of residents have been to pop-up shops, putting Bristol just in the top 10 hot spots in the UK. Cardiff was number one. The reports found pop-up shops contribute £2.1 billion to the UK economy each year and is a growing sector. But it said that could be higher if barriers such as lack of flexible short-term contracts and high business rates were removed. Bristol-based mobile phone firm EE is backing Pop Up UK, a campaign to encourage and support pop-up shops. Mike Tomlinson, EE’s small business director, said: “Small businesses, and pop-ups in particular, face massive barriers and we’ve launched Pop-Up UK to stoke the fire under Britain’s pop-up retail economy.”

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

Hatts Coaches

Victims offered deals ● COACH holiday specialist Bakers Dolphin is helping holidaymakers affected by the collapse of Wiltshire-based Hatts Coaches, which has gone into administration. Around 1,000 people are believed to have made bookings with Hatts and may have lost their money and their holiday. Bakers Dolphin, based in Weston-super-Mare, is offering 50 per cent off its holidays to anyone who lost out in the Hatts collapse. Sales and marketing director Amanda Harrington said: “When this sort of thing happens it undermines the industry’s good reputation.”

Office space

Business centre opens ● A NEW business centre has opened offering serviced offices in Warmley. New World Business Centre has transformed a neglected building into a bright and spacious office. Each individual office, named after a major world city, is fully furnished, has fibre optic internet, key fob entry and state-of-the-art telecoms, as well as shared access to a shower, business lounge and kitchen area.

● Clare Fraser has designed a website that aims to offer a quick and easy way for to find accommodation for families and the NHS

INDING a home to buy or rent online has become the norm both on websites such as the Bristol Post’s or directly through estate agents. But while the web is now first port of call for property hunting for yourself, it hasn’t been such a common tool when looking for a care home place for a loved one. That could be about to change as Clare Fraser, from Filton, has launched the first dedicated self-service letting agency for England’s 17,000 care homes. The 46-year-old teacher found it challenging to find care homes when helping her mother-in-law a few years ago. “I have personal experience of dealing with the care system and I know what a tortuous and stressful process it can be – anything aimed at making the process easier is to be welcomed,” she said. Large numbers of care home beds go empty, hitting profits, and Clare believes there is a gap in the market to help fill them. Clare said: “In the current financial climate we know that up to 20 per cent of a care home’s profit can be lost when the last few rooms are unoccupied. “We also understand that it can be a struggle to fill them, so we’ve designed a site that is specifically tailored for care providers who need to fill these spaces.” She added that families and health professionals often needed to find homes at short notice, so her business would help them too. Clare said: “Care Homes Now will be a quick and easy way to find up-to-date accommodation for families, friends and the NHS looking for

good quality care for loved ones within their chosen location. “There are thousands of brilliant, caring establishments out there, working around the clock, every day of every week, delivering superb care and showing huge commitment to residents and their family members – they just need to be found quickly and easily.” Users will be able to leave recommendations on the website, carehomesnow.com, as is common practice with holiday websites or when buying goods. Clare said this would help people make a more informed decision, but added nothing could take the place of visiting the home in person. She said: “Our website is just a stepping stone to help along the way.

“ I know what a tortuous and stressful process the care system can be.” Clare Fraser This is often an emotional time for all involved and it is definitely not a ‘one size fits all’.” Despite a career in public service, Clare has always had an entrepreneurial streak, right back to making and selling earrings to classmates when she was at school. She hopes the business will become the “go-to website”, providing the latest room availability across the country. It launches next month with care homes offered a free trial, after which they would pay a subscription. Five per cent of profits will go to charities supporting the elderly. Clare said: “It is a modern, simple and affordable solution which will save people both time and money.”

Aviation

World tour puts A350 to the test THE world’s newest airliner has been flying on a world tour on its journey to securing its final certification before going into service. The A350 XWB is undergoing rigorous flight tests with an itinerary including stops at 14 major airports and flying via the North Pole. The large plane is Airbus’ answer to rival Boeing’s Dreamliner. It will carry 300-400 passengers when in service. The XWB stands for extra wide body, which allows wider 18in seats in economy or more passengers. The plane also uses lighter materials to make it 25 per cent more fuel efficient than earlier models. The test aircraft, numbered MSN5, is one of the fleet of five and one of two with a fully functional cabin, made up

to include 42 business class and 223 economy class seats. The flights are being operated by Airbus flight crews joined by pilots from the European Aviation Safety Agency. The tests form part of the last trials required for aircraft Type Certification scheduled for the third quarter of this year. The first airline delivery, to Qatar Airways, is due towards the end of the year. The three-week testing programme includes four trips with starts in Toulouse, France. Trip one, goes to Canada via the North Pole and Frankfurt. The second to Asia, the world’s fastest growing aviation market, includes visits to Hong Kong and Singapore. The third takes the aircraft to

Johannesburg and Sydney. From Sydney it will fly to Auckland, followed by Santiago in Chile and Sao Paulo before returning to Toulouse. On the fourth and final trip, the A350 will depart from Toulouse to Doha, then onto Perth and back to Doha. From Doha it will fly to Moscow, then to Helsinki from where it will fly back to Toulouse. The A350s have undergone 540 flights and 2,350 hours in the air. Airbus has already won orders for 742 planes from 38 customers. ● Airbus suffered a blow to the A380 super jumbo programme yesterday when it cancelled an order for six planes from Japanese airline Skymark. See page 21 of today’s Bristol Post for the full story

● The A350’s test flights will take it around the globe

www.bristolpost.co.uk/business

Wednesday, July 30, 2014

Exports

Royal honour Credit from the top for firm behind card technology Gavin Thompson Assistant Editor (Business) gavin.thompson@b-nm.co.uk

OU may never have heard of Creditcall, but you’ve probably used its services. In fact, you’ve more than likely trusted the Bristol company with your credit or debit card details. As chief technology officer Jeremy Gumbley puts it: “We provide the glue between the device such as a parking meter and the banking network.” The company was formed in 1996, initially providing telephone services for hotels. “If you stayed in a Travelodge or Premier Inn and there was a phone with a credit card swipe to make calls, that was us,” said Jeremy. The rise of the mobile phone put an end to that market, but the firm saw it coming and moved into new areas. Its technology is used by people who want to make card payments without a member of staff there to supervise. Customers include Bristol Airport and the Cabot Circus car park. Turnover last year was £5.7 million, up from £4.7 million the year before. Exports have grown 80 per cent. Now the firm is leading the way exporting its payment services overseas, particularly the North American market, and has been awarded the Queen’s Award for Export. Jeremy said the firm had found Americans were more likely to risk a new technology. “Our first customer in the US was in Seattle, where they deployed 2,500 parking meters with new technology,” said Jeremy. “We made that work and it paved the way for further success.” The firm’s biggest US customer is now the City of New York, which also uses the technology in its parking meters. Across the country, there are 45,000 meters using Creditcall’s system.

“ We provide the glue between the device such as a parking meter and the banking network Chief technology officer Jeremy Gumbley ● Creditcall Chief executive Peter Turner is presented with the Queen’s Award by Lord Lieutenant Mary Prior; left, Creditcall at Bristol

Using sales and distribution partners overseas allows it to get into the markets without directly employing a large workforce there. It does have a small New York office and two staff in Canada. And Jeremy believes the company’s advantage over competitors is that it makes the system simple for the customer, by dealing with the

complications of the banking system for them. The company is rooted in Bristol and enjoys being here. It moved recently because it had outgrown its old office, but in the end only went across the road into Merchants’ House, near Wapping Wharf. Chief executive, Peter Turner, said: “It became clear very quickly that

many younger members of our workforce walk or cycle to work – about 70 per cent. That meant moving a few miles down the road was not an option. We need to be in the centre.” He added: “We ask a lot of our staff, but we do listen to them.” Jeremy said the wealth of talent in the city was a key reason to stay, with about two-thirds of the 62 staff working on technology. “One of the great things about Bristol is the fact we have the opportunity of getting quite a lot of graduates from UWE, Bristol and Bath universities.” Staff watched a presentation ceremony as Lord Lieutenant Mary Prior handed over the Queen’s Award. Bristol Lord Mayor Alistair Watson said: “These awards are not given to many businesses and when we get one here in Bristol we always celebrate it. I am so glad your new HQ is here and you are going to continue to grow here.”

Apprenticeships

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Teenager Sam starts dream career A HARTCLIFFE teenager has secured his dream career in business administration at a local community centre. Sam Saint, 17, has secured a competitive apprenticeship at @Symes, a Hartcliffe community centre located above a library. @Symes is run and managed by local people. It provides support for adults in the community and is dedicated to getting people back into work by offering advice sessions and skills-building courses on employability, IT for beginners, work clubs, life coaching and introduction to volunteering courses. Sam is now the first port-of-call for centre visitors and provides crucial financial support and general administration. Qualifying in a year’s time, Sam will also be working towards a NVQ in Business Administration. Sam said he was unsure what to do

next at college, so he joined an apprenticeship academy where he tried a couple of placements before an adviser matched him with a business administration opportunity. “At first, I was unsure whether it would be a career suited to me,” he said. “However, I have found it really worthwhile – having always been naturally talented at maths – and I now get to use those skills to good effect. “This job has not only given me a career focus, but it has allowed me to learn new skills, while gaining invaluable experience. I’ve finally found something I truly enjoy doing. “Everyone at @Symes has really welcomed me and I’m so glad to have finally found the perfect career that suits me and my skills. This apprenticeship has undoubtedly given me great experience and built a strong foundation for my career.”

The apprenticeship course, delivered by training provider t2 Group, allows Sam to gain hands-on experience in business administration as well as providing him with functional skills in core subjects, including maths, ICT and English. The firm’s Bristol Apprenticeship Academy offers 20 weeks of intensive employability training combined with work experience, leading to nationally recognised qualifications and building practical on-the-job skills. Dave Marr, director of business development and human resources at t2 Group, said: “This apprenticeship has given Sam a sharp focus while providing him with a broad base to build his career on.” He added: “We’re delighted that he’s finally found his passion and can now start to look forward to the future.”

● Apprentice Sam Saint, 17

Economy

Recovery on ‘strong ground’ in South West ● THE economy has pushed past its pre-recession peak of 2008 and local businesses say that is being felt on the ground. The UK’s economy GDP grew by 0.8 per cent in the second quarter of 2014. It has grown three per cent from the same point last year. The previous peak was in the first quarter of 2008, after which came the credit crunch and resulting recession, which saw the economy shrink by 7.2 per cent. The news was welcomed by businesses and business leaders in Bristol. Rob Law, chief executive of Bristol-based child luggage maker Trunki, said the growing economy was reflected in his business, too. He said: “We’ve experienced significant growth with our exports, which are up by 25 per cent. Trunki has just launched in the USA, northern Europe and China and all three are performing extremely well. “We’ve hired five new members of the team and we’re currently undertaking a significant investment strategy after the Business Growth Fund injected £4 million into the business for future growth.” He added that the firm planned to launch two new products this year. Phil Smith, managing director of regional business organisation Business West, said its own surveys backed up a growing confidence. He said: “Our Local Business Survey this quarter of over 740 businesses across the region paints a positive picture for our region and builds on a strong start to the year. “Quarter two results showed that growth remains on a firm footing here, with increases in domestic sales and orders fuelling business confidence, which is up on both the quarter and the year, standing at 74 per cent.” Government figures show employment has increased by 139,356 across the whole South West since 2010. Mr Smith said the jobs figures had been reinforced by businesses reporting they had recruited more staff this quarter and expect to continue to do so over the next three months. He added there was still work to be done, but overall the South West economic recovery was on “strong ground”.

www.bristolpost.co.uk/business

Wednesday, July 30, 2014

The Big Interview

UNLOCKING OPTIONS FOR GROWTH Bristol has a strong professional services sector, with lawyers, accountants and the like working behind the scenes making the business world tick. We caught up with three of them to show us behind the curtain at what really goes on...

● Directors of Smith and Williamson, from left, Martyn Fraser, Iain Lownes and Matthew Pearson

Vital statistics Matthew Pearson Age: 43 Place of birth: Manchester School: St Ambrose College First job: Teacher Iain Lownes Age: 43 Place of birth: Kidderminster School: Wolverhampton High School First job: Shelf-stacking in M&S Martyn Fraser Age: 39 Place of birth: Aylesbury School: King Edmund School (now Yate International Academy) First job: Paper round

“ There is a real appetite for growth and ... good quality businesses are in a really strong position to capitalise on the opportunities Iain Lownes “For example, we recently completed a large fundraising for a client in the US private placement market as they were seeking to access finance beyond the UK banking sector.” So what makes a good corporate finance client? “It’s not about the size of the company or the value of the deal but rather the complexity of what they

My working day Martyn Fraser Wake up at? Whenever the kids get up, normally early Breakfast? Toast What time do you start work? Around 8am What happens in your typical working day? No two days are the same as they are driven by what clients are looking to do. What time do you go home? Typically around 7pm but often much later as much of our work is driven by tight deadlines. Do you take work home/attend evening functions? Yes

are trying to achieve,” said Martyn. “We help clients to resolve complex challenges typically requiring senior level input, strategic thinking and often creativity in coming up with the best solution.” “It’s not always the solution that companies think they are looking for either,” added Iain. “We are often approached by businesses for advice on a particular issue, but when we talk it all through, it turns out there are other more suitable options which hadn’t even been considered.” Matthew added: “Businesses often have a lot more options than they may realise. “It’s a mistake to think equity and debt finance is necessarily difficult to come by, although it’s true to say creativity may be needed to unlock them. Investment and lending criteria may have changed, but if a company is fun-

My downtime Iain Lownes What’s your perfect weekend? Exercising – I run 10 miles on Sundays – and baking a cake with my children What’s your favourite book, film or TV show: Ice Cold in Alex (above) and A People’s History What are your hobbies? Fitness and military history

damentally sound then options do exist, although companies must help by ensuring they position themselves in the best possible light, which is where an experienced adviser can come into their own.” But Martyn says it’s not all about the deals. He said: “It’s about building long-term relationships with a trusted adviser who can help develop and implement plans which will enable the business owners to realise their ambitions for the company as well as personally. Whilst this may ultimately involve some form of transaction, we often work with clients for many years in advance of this.” Iain added: “Many entrepreneurs understandably try to do it all themselves until they realise they no longer can. Unfortunately, at this point, the real opportunities have often been missed.

“ I recently worked with a company which was lucky enough to have a great managing director who was willing and capable of taking the business on. That’s surprisingly rare and most companies don’t gear up early enough for a sale. We tend to talk to business owners years in advance, helping them to structure and position their companies in the right way to achieve the best possible outcome.” Whether a business needs financial advice or any other form of professional support or service, the key seems to be in unlocking the options so they can make informed choices and realise their full potential. “Most clients know what they want but they don’t necessarily know how to get there,” said Martyn. “In my view the role of the professional adviser is to help them bridge this gap.”

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ROFESSIONAL services is one of the five key growth sectors identified by the West of England Local Enterprise Partnership in its strategic plan to stimulate the region’s £25 billion economy over the next six years. Bristol boasts a rich seam of professional services firms, whose work is often conducted behind closed doors and yet underpins many business success stories. The sector is going through a period of evolution, but it continues to prosper and remains one of the strongest economic contributors. Among those firms is accountancy and investment management group Smith & Williamson, with 170 people based in central Bristol. Its corporate finance team is one of the biggest in the region and has seen a significant rise in activity locally, nationally and internationally in the first half of 2014. It recently completed three major deals, including the £80 million acquisition of Amber Taverns, an £11 million investment by Mobeus Equity Partners and the sale of the Microsoft UK Country Partner of the Year, Information Management Group, to US-based Hitachi Consulting. Martyn Fraser, Iain Lownes and Matthew Pearson are all part of the 10-strong Bristol corporate finance team, a market that has been rather busy of late. “We have seen a significant improvement in confidence this year which has galvanised businesses into action,” said Iain. “There is a real appetite for growth and with a wide range of funding options now up for grabs, good quality businesses are in a really strong position to capitalise on the opportunities. “Whether it’s capital for a management buy-out or buy-in, development capital for expansion or obtaining advice on funding options, restructuring or exit strategies, there is plenty going on.” Much of the business done by such professionals now crosses international borders. “The UK is an attractive market for inward investment and the ability to reach overseas buyers is increasingly important when selling businesses,” Martyn said. “Most of the deals we are involved in now have an international element even for relatively small businesses that might traditionally have been marketed only to domestic buyers. Globalisation has made the world a small place and created an opportunity to structure transactions that simply wouldn’t have happened 20 years ago.” And it’s not just exporting, but investment coming into the area, too. Matthew said: “Equally, we are also seeing international finance houses coming to the UK and actively looking to purchase UK assets. Robust UK companies with an overseas mandate are high on their ‘wish lists’ and there are interesting deals to be done.

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Wednesday, July 30, 2014

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

Focus: House building

HOUSE BUILDING KEY TO LAYING House building is both a major driver and indicator of economic recovery. Rupert Janisch looks at the various issues confronting the industry in Bristol

● From left, Michelle Cole, of Mi-space, with Serena Findlay and children Ruben and Mari at Stibbs Hill, St George

N the 1930s house building played a major part in our nation’s economy recovering from a major double-dip recession. Something similar could happen

now. As the UK recovers from the financial turmoil post 2008, house building is widely regarded as a major impetus to growth. Apart from the benefit to the major firms, growth in the industry has a wide knock-on effect throughout the supply chain, from architects and planning consultants to bricklayers and electricians. Usman Yaqub, a Bristol-based independent chartered architectural technologist with Studio Yaqub, said new housing developments were

“ New housing developments are a key driver for economic output and wealth creation, as thousands of people at all levels of the economic ladder are employed and growth is attracted to the area. Usman Yaqub

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often used as a “litmus test” for the entire economy. He said: “They are a key driver for economic output and wealth creation, as thousands of people at all levels of the economic ladder are employed and growth is attracted to the area. “This formula works perfectly in the UK, as there is a chronic shortfall of housing, therefore the supply and demand scales are firmly tipped towards demand. It’s not the only driver, but it is a key one. National

Developers can bring benefits for wider community, as in Bristol... ● Community benefit as much as corporate profit was a key driver in two developments undertaken by Mi-space in Bristol recently. Mi-space is the residential housing arm of the Midas Group, one of the region’s leading independent construction companies. The company is a significant house builder in the South West, focused on developing affordable housing schemes for housing associations. The Stibbs Hill development, built for Bristol Community Housing in St

Case study

statistics indicate housing construction totalled 133,650 in the 12 months to March 2014 – up 31 per cent. “It is not only housing but also amenities that will begin to develop the area as part of these projects. This will lead to the development of necessities such as schools, leisure centres, high streets, shopping

George, and The Station, a recently completed creative youth centre in the heart of the city, are prime examples of where they have worked closely with the local community. Michelle Cole, community engagement manager for Mi-space, said: “During the builds, we worked in partnership with councils, planning authorities and other partner organisations to deliver an

agreed number of work placements, training and apprenticeships. A large number of those brought in under this scheme came from the very local community, not just the wider area. “During the building of The Station, the company funded a film created by a local group that engaged with the local young people. It

was about the apprentices employed on the project, including an educational piece around why being an apprentice is a positive career step, and also an element on the history of the former fire station.” Rob Benson, left, director of Mi-space, said: “I believe there’s a huge opportunity for the whole undertaking of house building to create a much wider community and social value.”

centres and community centres. “This will also result in commercial developments that will see new businesses such as offices, warehouses and factories opening. All this development will at every stage result in job creation.” In Bristol, you can see development happening all over the city. Inner city

projects include ones in Fishponds by Bovis along Brook Road, and another development completed along Plummers Hill. In Filton, there is in-fill development opposite the University of the West of England’s main campus. This is a large area that will be converted into housing for the city without

impinging on the greenbelt. Another example of suburban development is the former runway in Filton close to Cribbs Causeway. Usman said: “I have noticed a considerable increase in enquiries for planning and building regulation packages from residential and business customers alike.

www.bristolpost.co.uk/business

Wednesday, July 30, 2014

FOUNDATIONS OF OUR RECOVERY Training crucial to provision of skilled workers Case study ● BUSINESSES within the house building sector know it is important to support the supply chain to ensure capacity can increase. But just as crucial to ensure the supply of talent and skills by investing in training. Without the skilled workers, businesses will not be able to grow. That’s why Taylor Wimpey Bristol, based in Aztec West, is currently supporting eight trade apprentices embedded within the brick-laying and carpentry supply chain, as well as three site manager apprentices, two trainee assistant site managers, four trainee sales executives and seven office-based trainees. Managing director Keith Simmons said: “Excellence in house building is all about having the right people to do the job – to meet the high standards of workmanship and customer service our purchasers expect. “We’re supporting trainees and apprentices in a wide range of roles, including our office trainees who I like to call the ‘Magnificent Seven’! It’s not only good for the local economy; it’s also good for the future success of the business.”

“I have recently been involved with extensions and planning applications for businesses and homeowners now finding it viable to carry out works. There is definitely increased confidence in the market place.” It is the big players who are driving most of the development, and therefore economic activity. Taylor Wimpey Bristol is building thousands of homes in the areas surrounding the city, including 700 at the former Cadbury site in Somerdale, Keynsham, and 2,500 at the Lyde Green village development in Emersons Green. Managing director Keith Simmons said house builders often don’t get the appreciation they deserve. “House building sites are really like mobile factories,” he said. “We’re a major employer, but because our workforce and factories are mobile, we don’t tend to get the same recognition as if we were running a factory in a fixed location employing

● From left, the Magnificent Seven Taylor Wimpey apprentices Matthew Powell, Liam Symonds-Barry, Joseph Cowell, Ollie Clayton, Mark Davies, Toby Lloyd and Holly Cotterell outside the firm’s Bristol HQ in Aztec West

600 staff. But just as in the case of manufacturing, the local supply chain is also critical to the house building sector, so we do everything we can to support it.” Facts back up Keith’s argument – Taylor Wimpey Bristol has about 600 sub-contractors signing into its 12 sites across Bristol, Gloucestershire, Somerset and Wiltshire on average every day. Every Taylor Wimpey house built is estimated to create one and a half full time jobs on site, and a further three in the supply chain. In financial terms, the company will spend £180 million over the next three years with the businesses that form its supply chain in developing its new sites across the region – that’s £60 million per annum spent within the local area. The number of homes being built across the South West is growing. Last year the region saw 13,606 new-build homes registered with the National House-Building Council

(NHBC), an increase of 16 per cent on the previous year, and the third highest rate of new home starts in the UK outside of London. Those within the sector therefore recognise the vital importance of supporting the supply chain and developing the skills needed to ensure capacity can increase within the industry, and investing in training is a crucial part of the strategy to enable continued growth. But smaller operators – those without the purchasing powers of the big guns – find they have to wait their turn to take advantage of the opportunities economic recovery brings. Rob Benson is director of Mi-Space, the affordable housing arm of Midas Construction. He said a shortage of workers meant smaller operators

could find themselves starved of labour, while the bigger companies had the power to buy up the materials. It means the small companies have no people to build their properties and nothing to build them out of. “Once planning has been granted there are major challenges over skills shortages and materials,” he said. “A lot of the large materials manufacturers mothballed production because the demand wasn’t there. “When the market recovers – and our market tends to recover quite quickly – it takes six to 12 months for that capacity to appear again. “Therefore in the short term the only thing that can control distribution of materials is price. So that’s how materials are allocated – it means that prices rocket through the

roof and, if you’re not prepared to pay, you have to wait. I had a quote for bricks done recently which meant I had to wait for 47 weeks. “Now clearly the big house builders are producing over 10,000 houses each per year and they have the purchasing power, which means smaller companies have to wait. “Labour is also a very transient market, and you may even find you come back after lunch to find your bricklayers have gone to work on a project over the road because the pay is better. “That really does create problems in terms of delivery.” One example of a business which is aimed at tackling the lack of skilled labour is the South West Construction Academy (SWCA), recently set up by plumbing tutor Shane McCallum at Eastwood Park near Wotton-under-Edge. Providing distance learning and on-site training, SWCA not only aims to provide highly-personalised training but it also aims to provide industry with the skills it requires. Shane, below left, said: “The construction industry is made up mainly of an older workforce, many are leaving the industry every year through retirement and they need to be replaced with skilled tradespeople, either through apprenticeships or people who are looking to retrain and enter the construction industry. “The need for training of these people is becoming more and more prevalent, and the problem with college courses is that they are starting to be more focused on English and maths than the vocational qualifications. “I feel that people can be disadvantaged because they don’t have their GSCEs but may well have a good skill set if trained properly. “Employers need to have more incentive to take on adults who have gained their diploma and need to complete their qualification with an NVQ, not just apprentices.” While bigger firms have apprenticeship programmes to address future skills needs, it’s harder for the many smaller firms in the chain. The Construction Industry Training Board has been working to develop a joint investment strategy with the local councils and the West of England Enterprise Partnership in a bid to help those smaller companies invest in skills and apprentices. It has pledged to fund £500,000 to training if that can be matched. So far it has been met with enthusiasm but not the cash needed to kickstart the scheme. If we want house building to continue to drive our economy, now would be a good time to find that investment.

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www.bristolpost.co.uk/business

Wednesday, July 30, 2014

In pictures - Get Growing: The Great Business Roadshow at the Engine Shed

How to expand Meeting that growing need

● Bath Universal Promotions - John Barnard, Oliver Wilkey and Tom Barnard BRML20140724A-004

● The half-day workshop on how to grow a firm ● Rob Hall of Wriggle and freelance Robert Graham BRML2014 0724A-001

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● Vicky Fraser and Nick Hounsfield of The Wave BRML2014 0724A-002

● Simone Kidner of Paper Art and Neil Bolton of Spectrum Internet BRML2014 0724A-006

Photographs: Michael Lloyd BRML20140724A-009

HAT do a group of home-based accountants, early stage tech entrepreneurs, marketing agencies, consultancies, and creative firms have in common? They all want to grow their business and 35 of them attended Get Growing: The Great Business Roadshow at the Engine Shed. They were looking for advice on growth, from learning about how to scale their business and establishing the right time to take on employees to growing sales, improving marketing and networking. Among those in attendance was India Rabey, who has a graphic design agency specialising in print, branding and interpretation. She has been self-employed for six months but has so much work she has set up a limited company called The Way and is now looking to take someone on. India said: “I heard about the roadshow on Twitter and it sounded like it would be useful. It certainly was! I networked and met lots of lovely people in similar positions.” India also won a £500 prize she hopes to put towards a Growth Accelerator course. Hayley Conick, UK country manager at one of the event organisers Elance, said: “Growing a business while staying lean and keeping costs down is a real challenge for small businesses. “We know from the thousands of businesses using our platform in the UK that getting access to the talent, advice and support you need, when you need it, can make the world of difference.” The roadshow was put together by Elance and other partners including FreeAgent, Constant Contact and Advantage Business Partnerships. Hayley said: “There are clearly some terrific entrepreneurs in the area and we look forward to hearing how they get on following the event.”

● Dave Hancock of IH Bristol, Krystian Gorski of Phoenix Systems, Toby BRML20140724A-003 Hoare of Clearwater and Margo Field of IH Bristol

● Peter Johnson and Stuart Hinde of Wizard Systems BRML20140724A-005

● Lydia Samuel and Charlie Bradley of Women Outside the Box BRML20140724A-007

www.bristolpost.co.uk/business

Wednesday, July 30, 2014

Business diary

In pictures - Neighbourly launch at the Engine Shed

Meet the minister: South Gloucestershire FSB hosts a Q&A event with Pensions Minister and local MP Steve Webb (right). Questions must be emailed in advance. Wednesday, July 30, 7pn-9pm, at Aztec West Hotel, BS32 4TS.

● From left, Chris Kelly of Neighbourly, Marissa Ellis of Webstart, and Rob Scott-Cook Photographs: Gavin Thompson from Woodlands Church.

● Neighbourly chief operating officer Zoe Colosimo and chief executive Nick Davies

‘This could be the world’s next big social network’

GALLERIES GALORE

FOR MORE PICTURES Check out our website at bristolpost.co.uk/business

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

● Lucy Hather and Nick Roberts of Superact we didn’t do a brilliant job over here of telling the story of our community engagement and what it means to have a Starbucks in your area.” He said that when the floods hit New Orleans Starbucks workers got involved in the relief effort. “When we had floods here we were ready, we had people ready to help but we couldn’t find projects who needed our support or who knew how to ask for our support.” It was shortly after that he heard from the Neighbourly team and now Starbucks plans to use the platform to find projects it can support locally.

● Griff Holland of Friska, Simon Redfern of Starbucks and Nicky Gaskell of Starbucks

Carmel McQuaid, head of responsible business at M&S said: “Neighbourly is a perfect way for us to elevate our level of community involvement. It provides us with an easier and clearer way of understanding what a project is doing at a local level – and offering it some practical assistance. It gives us a chance of saying ‘yes’ more often.” Community groups and organisations can put their projects on the network, and support it with video and other social media. More than 200 have already signed up ahead of the full launch. It is free for community groups

● Left, Lucy Smith of Mazars, Kate Smith of Bristol Zoo, Roxanne Simmonds of Mazars, and Jess Robinson of Swallow.

while businesses pay a subscription. For companies, they can see which projects are in their area and also find out how they themselves compare with their competitors in terms of helping out. Nick added that businesses needed to engage with consumers not just as customers but as people in order to sustain their business going forward and to recruit the best staff. He said: “UK businesses spend .04 per cent of profits on community projects. In the US it is 14 times that. “There’s a lot more business can do.”

Wednesday@6: Institute of Directors informal networking at the Radisson Blu Hotel 6-8pm, Wednesday, August 20. Non members welcome. Free but to register call 0117 3707785 or email iod.southwest@iod.com. Wednesday@6: Institute of Directors informal networking at the Radisson Blu Hotel 6-8pm, Wednesday, September 3. Non members welcome. Free but to register call 0117 3707785 or email iod.southwest@iod.com. Institute of Directors Bristol branch Autumn Special Held at the University of Bristol Botanic Gardens with Martin Bigg from the Bristol Green Capital Partnership, Tuesday, September 9. Check www.iod.com/swestevents for more information and to book. 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.

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● Right, Jeff Macdonald of innate motion, Berend Maten of Enoor, and Dave Martin of Call Of The Brave.

Wednesday@6: Institute of Directors informal networking at the Radisson Blu Hotel 6-8pm, Wednesday, August 6. Non members welcome. Free but to register call 0117 3707785 or email iod.southwest@iod.com. Bristol Connected: The Bristol Post’s popular business networking event takes place a the Hilton Garden Inn, Temple Way, from 6pm-8pm on Thursday, August 14. A chance for SMEs to network as well as meet the Post team. John Hirst from Destination Bristol will be among the speakers. To sign up go to eventbrite or scan the QR code below.

Gavin Thompson

NEW social network that brings together businesses and communities has launched in Bristol with global ambitions. Neighbourly is a place where communities can promote projects in need of funds or support and businesses can find local scheme to help. Chief executive Nick Davies told the 60 people attending the launch in the Engine Shed: “We believe this could be the world’s next big social network. We believe it’s an idea for a changing world.” It’s a grand statement but backed up by two major companies on board for the launch, Marks & Spencer and Starbucks. Also speaking at the launch, Starbucks’ director of corporate affairs Simon Redfern said the coffee chain had been founded with the community at heart. He said: “When we started Starbucks in 1971 it was very deeply engrained in the company to engage in the community. “When we came to the UK in 1998 everyone knew what Starbucks was and that it was a cool coffee brand but

Summer party: Moon Consulting holds its summer party at the Old Fire Station, Pill, on Thursday, July 31 from 6-8.30pm. The evening will feature display of elite Aston Martin and Bentley cars courtesy of local luxury car dealers HR Owen Cheltenham and two classic Austin Healey race cars. Fundraising for the Fire Fighters Charity.

www.bristolpost.co.uk/business

Wednesday, July 30, 2014

The back page

Your digest of the week in business

Places

In numbers Inflation (CPI)

● Bristol Airport could be about to change hands. A number of outlets including Reuters and City AM have reported an investment firm owned by Australian bank Macquarie Group is looking to sell its 50 per cent stake. It bought the airport back in 2001 for £198 million from the city council and First Group. The other major shareholder in the airport is the Ontario Teachers’ Pension Plan, which has a 49 per cent stake. The other one per cent is owned by Sydney Airport. Passenger numbers have been rising, with the airport reporting record figures in June. ● Business centre provider Regus is looking for more sites around the area and has hired property consultancy Alder King to find them. The firm has 300 sites across the UK and wants more, specifically 10-15,000 sq ft sites in traditional in and out of town business locations such as transport hubs, universities and shopping centres. Simon Price, head of agency at Alder King, said: “Regus has identified untapped demand for flexible workplaces in a number of towns across the region and excessive demand in centres where it already has representation such as Bristol.”

People ● Construction industry recruitment agency Sphere Solutions has appointed Helen Rosborough, above, as business improvement manager. A civil engineer by qualification and early career, Helen joins Cribbs Causewaybased Sphere from global recruitment company CDI AndersElite. Director James Hughes said: “We are hugely excited to have attracted such a leading professional from the global recruitment industry as Helen. Her

● Jackie Sheehan, Martin Strong, Huw Brown and Pip Eyles wearing their jammies in Millennium Square to raise cash for charity Picture: Martin Bennett high level expertise in fast-growth development of regional recruitment business makes Helen a superb fit for our major growth ambitions.”

The site was an initiative led by Ham Green-based Clifton Asset Management, which specialises in pension-led funding for businesses. The site’s goal is to support SMEs requiring non-bank finance solutions. Ben Hughes, chief executive of Community Development Finance Association, said: “Linking up with other leading funders makes it easy for small business owners to navigate the options and find what’s right for them.”

● Clevedon Telecoms firm Pure Comms has appointed Rob MacDonald, below, as a data specialist. The 40-year-old’s appointment follows a strong start to 2014 with each month exceeding the performance of the previous

one. Managing director Rob Vivian said: “It’s no secret we have big ambitions as a company and Rob will be key to us as we continue to expand.” The firm’s customers include Bristol Airport and Castlemeadbased Opus Recruitment.

Other ● Barristers’ set No5 Chambers, in Queen Square, has been crowned The Lawyer Chambers of the Year. Practice director Tony McDaid said he was “very proud and excited”. He said: “I believe that being awarded this accolade is recognition of No5’s business model, founded upon attracting stellar barristers and rising stars and

● Paul Bleasdale QC, Head of No5 Chambers with Tony McDaid supporting their success with outstanding practice management and business development.” The citation said: “Progressive and forward thinking, No5 takes the top award for having the confidence and courage to take the lead in a difficult market.” ● The online portal for alternative business lenders, which started thanks to the idea of a local business, is expanding. Forty Community Development Finance Institutions responsible for funding over 10,000 small businesses rejected for bank finance last year, have joined with alternativebusinessfunding.co.uk.

● Finally Bristol business leaders visited Millennium Square wearing just their jammies in a bid to raise awareness of youth homelessness. Huw Brown, director at KPMG, was joined by Ernst and Young’s executive secretary Pip Eyles, tax adviser Martin Strong, and tax team assistant Jackie Sheehan who all took part in Action for Children’s pyjamming challenge, which asks people to pose in their pyjamas and share photos online. The campaign coincides with Byte Night South West, a fundraising event that calls on members of the business and technology communities to sleep rough to raise vital funds for the charity’s youth homelessness services. Huw, who is Byte Night South West co-chair, said: “Posing in my pyjamas in Millennium Square was a silly challenge, a bit of an embarrassment, and all round good fun - but it had a serious purpose.” Byte Night is on Friday, October 3.

Tech cluster must compete on a global stage

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Inflation (RPI)

Weekly earnings

Base interest rate

Bonnie Dean Chief executive Bristol and Bath Science Park

own two feet. I wholeheartedly agree with this stance as I believe that it is important that the focus is not on positioning our tech cluster in relation to other UK tech hubs, but on competing at a global level. The fact that this latest report has highlighted the “global significance” of our tech cluster only underlines the need for this internationally-orientated approach. The Bristol and Bath area has plenty to showcase to a global business audience, with key strengths in an array of interlinked sectors, encompassing high tech, aerospace and

advanced engineering, digital and creative industries, robotics and more. And a collaborative approach at the heart of our tech cluster means that technologists, industry leaders and academics work together, creating a lively ecosystem of innovation and enterprise. At the Science Park, for example, we place an important focus on brokering influential and meaningful introductions that help businesses accelerate their growth. For example, Altair Product Design is running its specialist software at CFMS, an independent centre for advanced modelling and simulation, and one of our tenants, to design ultra-lightweight products with clients in the National Composites Centre, which is also based at the Park.

Since the Park opened in September 2011 it has attracted more than 60 science and tech businesses, and it is pleasing to see that tenants are adding specialist staff in record numbers since setting up here. Meanwhile, the Park’s strong international links open up new opportunities for companies overseas. Together with one of our tenants, Marine Current Turbines, a Siemens company, and XMOS, based in Bristol, I last year attended a trade mission with the Prime Minister to China, for example, and the Park itself hosts international delegations, such as the recent visit by the Canadian deputy trade commissioner. Let’s make the most of global connections such as these to aim high and ensure Bristol and Bath’s tech cluster looks beyond the UK to the international arena.

% %

Ave mortgage rate % Corporation tax % Main rate

Small profits rate – below £300,000

Business current accounts State Bank of India

1.01% £10,000 deposit 0.25% £1 deposit

Business savings accounts Cambridge & 1.80% Counties Bank £10,000 deposit Shawbrook Bank

1.40% £5,000 deposit

Source:

The op-ed column

RISTOL and Bath’s recent involvement in Tech City UK’s inaugural ‘cluster showcase’ serves as a timely example of the benefits of working through and with London’s tech hub. Held at Bloomberg, City Gate, in London, the session offered the opportunity to present the region and some of our tech star companies to investors and the media. The audience was told how Bristol and Bath region’s vibrant high tech sector was singled out recently as “globally significant” and “high growth” in an influential report looking at UK clusters. At the launch of the report, McKinsey & Company, which conducted the research in association with Centre for Cities, said Bristol and Bath’s tech cluster is not competing with London’s Tech City, but can stand on its

1.9 2.6 0.6 0.5 3.99

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