BUSINESS
December / January 2014-15
CONNECTED ESSEX
THE LEADING COUNTYWIDE B2B MAGAZINE T H I S M O N T H F E AT U R I N G :
Your opportunity to join the best Do you have a passion for business? Leading B2B Magazine
Business Networking
See pages 6-7
Featured Local News
Do you have a LinkedIn account but need a helping hand to make it work for you? Our bespoke training course will help, this includes: • How to download your contacts to Excel including their email addresses • What to post and when • What groups to join and how to set up a company page • Privacy settings to see who is following you or to hide your profile Plus much more… We can offer 1-2-1 training or group training to suit your requirements Offer price £99.99 for 2 hours at your offices or our training suite Call today for more details 01702 513113 BUSINESS
CONNECTED
BUSINESS
December / January 2014-15
CONNECTED ESSEX
THE LEADING COUNTYWIDE B2B MAGAZINE T H I S M O N T H F E AT U R I N G :
Your opportunity to join the best Do you have a passion for business? Leading B2B Magazine
Business Networking
See pages 6-7
Featured Local News
Get In Touch Tel: 01702 513113
Email: info@businessconnected.co.uk
Or Visit: www.businessconnected.co.uk Follow us on Facebook www.facebook.com/ BusinessConnected Follow us on Twitter
Welcome... Welcome to the latest version of Business Connected the premier countywide business to business magazine for Essex. In this edition we have a host of features, introduce our new premier partners, take a look at the pictures from the award ceremony at the Birkett Long / St Helena Hospice £50 challenge and delve a little deeper in to the Green Essex Awards & Essex Green 100. The Business East show is back next year and Business Connected is proud to have been chosen as the media partners for 2015, more details can be found on page 29. Business Connected is lucky enough to host the county’s top networking events which typically see 100 delegates passing business on a weekly basis at various locations including Essex Cricket Club, Southend Airport and Colchester United, full details over the page. We also have a whole host of networking friends and a full list of events can be found on our calendar page on the centre spread of this magazine. For more Essex news, events and all things business related please visit www.businessconnected.co.uk where our site is updated daily. If you would like to submit a press release then please email us at pressreleases@businessconnected.co.uk. I would like to thank all of our readers and advertisers who we have worked with and interacted with in the past year and look forward to working with you all in 2015.
Richard Pond Managing Director
Contents 06 Lead Feature 07 Wanted: People with Passion 08
HR Update New Antenatal Appointment Ruling for Fathers and Partners
@Connected_Essex
12 16 All rights reserved. No part of this publication may be reproduced in whole or in part in any way without prior written permission of Business Connected Ltd. Whilst every effort is made to ensure accuracy, no liability can be accepted for any errors or omissions. Printed in the UK by Printwize www.printwize.co.uk
Essex Round Up News From Around The County
Technology Update Cyber Security - What Is All The Fuss?
20 Essex Networking Events 21 Recommended by Business Connected 22 28 32 36
Business Advice Energy - Are The Lights Staying On This Winter?
Business Coach What Is My Business Worth?
Auto Enrolment Workplace Pensions - New Laws That Impact All Employers
Charity News Heart Health
www.businessconnected.co.uk
03
BUSINESS
CONNECTED ESSEX
To book tickets for any Business Connected event please visit: www.businessconnected.co.uk/our-events or call 01702 513113
About us Business Connected is proud to be operating the county’s premier b2b magazine, networking events and online portal that focus on the business community of Essex. We bring local businesses together via the many platforms that we operate. Our magazine is distributed across the whole county in print and online. The business connected website which receives over half a million hits a month is dedicated to up to date business news, a business directory and the number one place to find out what’s going on in Essex. You may have heard about the Business Connected Premier Partner scheme which helps businesses be seen not just in print but also online and through our fantastic social media
To advertise in any of our forthcoming publications or
offering, please see full details opposite.
for any information on anything Business Connected related please call us today on 01702 513113 or email
If you are like us and still like to see potential customers
info@businessconnected.co.uk
regularly face to face then our networking events might be just the answer. We hold four quality business networking events. Details of our upcoming events below. At all events we follow the same proven formula, we send delegate lists out in advance, have plenty of time to network, listen to one or two short but informative talks and get fed well. We always make sure there is a real focus on networking. Still not convinced? Then have a look at the videos of our events at www.businessconnected.co.uk, you can also book your tickets here. Business Connected
Business Connected
Business Connected
Business Connected
@Essex Cricket Club
@Southend Airport
@Ipswich Town FC
@Colchester United
1st Friday
2nd Friday
3rd Friday
4th Friday
of the month
of the month
of the month
of the month
To book your tickets, please visit www.businessconnected.co.uk
04
www.businessconnected.co.uk
The Business Connected
Premier Partner Scheme Exclusivity – We only work with one company of any type within the county. Business Connected Magazine – A full page advertisement in every edition of this magazine, we print and distribute 6000 copies, email 50,000 copies as well as uploading to the Business Connected website and social media sites. Social Media – Yes you may have a Twitter / LinkedIn / Facebook account but how about a helping hand, we can set up and run your account, interact as a “raving fan” or simply come over and give you regular training to all your staff. Pro-active
Accounting Email Campaigns – Need to get the message out to the masses? we have with a number of options
on-going support and advice with strategic business to help Networking Events – Many people know Business Connected fromanalysis our countywide events and we you achieve your want you to be part of them, fancy being a speaker or displayinggoals, yourwhoever banner at all our events? you are . . .
which we can tailor to suit the needs of your business.
Richard Bayliss Managing Director
“I didn’t realise how much money I could save before speaking Website – Our Business Connected website gets thousands of visitors a day, being a countywide to you. Thanks for all your good advice!” Darren Vallance, CAD Services
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Training, Coaching and White Collar Franchise
Help Helpwhen whenyou youneed needit itmost most IT Support Insolvency & Consultancy Practitioners
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Specialising in Business Recovery and Turnaround, Corporate Insolvency Founded in 1997, Antony BattyBatty & Co&LLP is anisestablished and and well well Founded in 1997, Antony Co LLP an established and Financial Restructuring, the Brentwood office is headed up respected Insolvency Practice withwith offices in London and and Brentwood. respected Insolvency Practice offices in London Brentwood. by Nicole Southwell who has over 22 yearsNicole experience in helping Southwell Nicole Southwell Specialising in Business Recovery and and Turnaround, Corporate Insolvency Specialising in Business Recovery Turnaround, Corporate Insolvency Head Head of ABC of Brentwood ABC Brentwood businesses across Essex and the UK. and and Financial Restructuring, the Brentwood office is headed up up Financial Restructuring, the Brentwood office is headed by Nicole Southwell whowho has over 22 years experience in helping by Nicole Southwell has over 22 years experience in helping We pride ourselves on giving Companies and Directors professional, businesses across Essex and and the UK. businesses across Essex the UK. honest advice, and our initial ‘no obligation’ meeting is confidential and free of charge. Our aim is to guide our clients through the available We pride ourselves on giving Companies and and Directors professional, We pride ourselves on giving Companies Directors professional, options, treat them with courtesy and respect, make Garyand Waskett Gary Waskettthe process honest advice, and and our initial ‘no obligation’ meeting is confidential honest advice, our initial ‘no obligation’ meeting is confidential Business Development Manager Business Development Manager as straightforward as possible. We have extensive experience in ABC Brentwood ABC Brentwood and and free free of charge. Our Our aim aim is toisguide our clients through the available of charge. to guide our clients through the available most areas of business, with Construction, Travel, Transport and options, treattreat themthem withwith courtesy and and respect, and and make the process options, courtesy respect, make the process Retail being particular specialties. Our Firm has over 150 years as straightforward as possible. We have extensive experience in in as straightforward as possible. We have extensive experience combined experience.
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Wanted: people with passion ActionCOACH is growing so fast, it has started a recruitment drive to find suitable candidates and launched a new business model option to appeal to more investors. Passion is a word that has particular meaning for ActionCOACH UK co-founder Ian Christelow, being both the quality he seeks in individuals for the ActionCOACH business network and the word that caught his eye 13 years ago in the advertisement that led to his subsequent career in business coaching. Ian Christelow: ActionCOACH UK co-founder
“People who are passionate about turning collective business knowledge into business success and who enjoy learning could find ActionCOACH the perfect opportunity to shine,” Ian explains. Christelow has recently made some changes to the structure of the UK franchising model (see panel), which he believes will create more opportunities for potential coaches to join the network. “This opens it up to a younger audience and for those who are wanting a lower investment,” he explains. “With banks willing to lend £30,000 unsecured, people who can raise £10,000 themselves can now become part of the team.” Since Ian became a partner in 2001, ActionCOACH has gone from strength to strength. Thanks to the talent and teamwork behind the franchise network over the last 13 years, it has become the best known business coaching company in the world, while the UK network has won a string of awards, including the coveted Best Business Opportunity award in 2013. Christelow’s vision is to eventually have 6,000 coaches delivering the ActionCOACH service to 100,000 businesses across the UK. It only takes a few minutes talking to the man, driven by a passion to create business success, to feel he may well achieve that goal.
Ellis Bardsley, 45, Franchise Partner in Oxfordshire since September 2013 Ellis Bardsley had 25 years of corporate experience behind him when he heard about ActionCOACH. “Although I had corporate experience, it was never with blue chip companies, but time-poor, cash-poor businesses working hard with limited resources to succeed,” he says. Bardsley signed up his first client
in October 2013, within a month of joining the ActionCOACH network. “I was very attracted by the ActionCOACH approach,” he says. “I saw the franchise as an opportunity to take my practical business experience and Ellis Bardsley with his family apply it to a proven system to create a concept that was equally useful to a large company as to a small or medium-sized enterprise,” he says. “It’s been just over a year since I invested in the business and already I’m ahead of my initial target of 12 clients in 12 months. In fact, I just signed up my 17th client, so technically I’m 42 per cent ahead of my expectations. The support I’ve received has been outstanding and that’s priceless with a new business venture and challenge. As an ActionCOACH, what I’m building is a business that delivers value to business owners, to people with genuine challenges who need some guidance. The coming years will be about constantly restructuring the business to allow me to deal with an everincreasing number of clients - and to help people achieve their goals. Only today, we’ve just helped our first client win a contract worth £500,000 - the biggest contract he has ever won. My family has got the bug too, with my wife Ali joining me in the business and my eldest son, Josh, getting involved wherever possible in between study and social at Swansea University. Josh’s latest venture is to take a busload of students down to Bristol to see the ActionCOACH founder Brad Sugars live, so already we’re contributing to the next generation of British entrepreneurs.” ActionPRIMARY
ActionPRACTICE
ActionPREMIUM
Franchise including training
£21k
£41k
£61k
10 day residential training
No
Yes
Yes
£2,000
£3,500
£5,000
5 additional revenue streams
No
Yes
Yes
2 additional fee earners
No
No
Yes
£2,100 or 25%
£1,800
£1,500
5%
5%
5%
£25k
£25k
£0
Marketing paid for you
Royalty from month 4 Marketing fund Upgrade investment
Rob Pickering, 51, Franchise Partner in Oxfordshire since July 2010 Rob Pickering calls his entry into the ActionCOACH network a happy accident. “I literally stumbled on it when a client I was doing management consultancy for asked if I did business coaching,” he explains. “Although I wasn’t Rob Pickering with his looking to invest in a franchise, soon wife Anne after dealing with ActionCOACH I realised I loved it and in 2010 I invested in the company. Four years later and here I am with 12 clients and a turnover of £200,000. The biggest challenge is getting prospects over the line to becoming clients, although usually it becomes clear to people after a couple of months how business coaching can benefit their business. My biggest win was my first client, whose question about business coaching made me switch from consultancy into being a coach. It was a small company called Academia, which was turning over £3.5 million. The company is now in The Sunday Times’ top 100 fastest growing tech companies, with a turnover of £44 million. Behind every top sports star there’s always a coach and that’s the person they thank for their success. It’s like that for us - we’re not looking for stardom, but there’s a huge satisfaction in being part of a company’s success and that’s why we do it.”
Mandy Hildred, 58, Franchise Partner in Yorkshire since February 2006 Working as business manager for a local charity in 2005, Mandy Hildred had called in ActionCOACH to inject some dynamism into an organisation that was stagnating. She found the experience so enjoyable that when her contract was up with the Mandy Hildred is building newly successful charity she joined a team of coaches the team. Eight years on as an ActionCOACH in her own right, Mandy has never looked back. “Within the first few months I had half a dozen clients and by the end of the first year I’d more than exceeded my income expectations,” she says. “Like any company owner, the biggest challenge is about building the business and delivering at the same time. I’ve had the support to be able to do that and with a business partner who shares my vision I’m now building a team of coaches, working with strategic partnerships such as accountants and banks with the aim of expanding the one-to-one and group coaching programmes and branching out into north and east Yorkshire. I say to anyone thinking of joining a business franchise such as this, if you spend a couple of days talking to an ActionCOACH you’ll be better able to make the right decision - for both your head and your heart.”
New Entry Level Business Opportunity: A. ActionCOACH Primary: £21,000. Includes five days’ basic initial training and two months’ online training. Monthly royalty of £2,100 or 25 per cent of turnover. You get access to all the ActionCOACH business coaching and training products and award winning support. Opportunity to upgrade to: B. ActionCOACH Practice: £41,000. Gets you the 10 days’ residential training, a lower monthly royalty of £1,800 and the new bolt-on revenue streams below. Opportunity to upgrade to: C: ActionCOACH Premium: £61,000. Comes with the added bonuses of an even lower monthly royalty of £1,500 and the right to employ two additional fee-earning coaches. Five new bolt-on revenue streams will be gifted to existing Practice and Premium franchise partners as they grow their business.
Five additional new revenue streams: 1. Profit Plus. Providing clients with essential bookkeeping services, business valuation, business planning, cash flow analysis, profitability analysis and financial monitoring services. 2. I love marketing. Delivering online services, including content marketing, search engine optimisation, pay per click, social media and reputation management to help businesses grow. 3. Corporate Business Coaching. Brad Sugars, the world’s number one business coach, has teamed up with Marshall Goldsmith, the top ranked executive coach, to help midsized companies grow their businesses. Two of the most influential business thinkers in the world will co-author their next book with ActionCOACH business and executive coach, Heather Christie. Their full suite of tools to tackle this massive market will be ready by October 2015. 4. Empire Business Brokerage. The fourth largest business brokers stateside has piled its experience and know-how into a brand new system and toolkit to successfully sell a business. 5. Rights to build your personal brand in association with ActionCOACH worldwide through public speaking, authorship and helping businesses grow internationally. The additional services will all be white labelled ActionCOACH and make ActionCOACH indispensable to any business owner looking to grow. For anyone investing in the ActionCOACH franchise, it’s an opportunity to develop a team of employees to deliver the new services and build a business turning over in excess of £1 million per year, coupled with the satisfaction of being a major and integral part of your client’s success.
For more information: Call Rainy or Sam on 01284 701648 or email: ukevents@actioncoach.com You can watch a six-minute overview video at: www.actioncoach-franchise.co.uk/overview
HR Update
New Antenatal Appointment Ruling for Fathers and Partners
A
s of 1st October 2014, fathers and partners have the right to take unpaid time off work to accompany expectant mothers to antenatal appointments.
c) That the appointment in question is made on the advice of a registered medical practitioner, registered midwife or registered nurse;
Employment Relations Minister Jo Swinson said:
d) The date and time of the appointment.
“Parenting is a shared endeavour and we want to encourage full involvement from fathers from the start. The right to time off work to attend antenatal appointments will help dads and partners play an important role in the early stages of pregnancy and will kick start a culture change in workplaces and help men feel more confident talking to their employers about taking time off for childcare. Dads have a key role to play in the first weeks and months of a baby’s life and it is right that the arrangements for parental leave should reflect that.
Employers who refuse time off could end up being taken to an employment tribunal, and be made to pay twice the hourly rate for each hour the employee would have taken off. Employees are protected in law from detrimental treatment for exercising this right, if an employee is dismissed because of it, the dismissal is automatically unfair.
The next step is introducing shared parental leave in April 2015, giving mums and adopters real choice about when they return to work and dads more time to bond with their children. Employers will benefit from lower staff turnover and having a workforce that is more flexible and motivated.” The right applies to employees that are working under a contract of employment, from the first day of employment. The policy also applies to agency workers who have reached the 12 week qualifying period for equal treatment. If an agency worker is engaged on a contract of employment, he or she will be entitled to the right to take leave from the first day of employment without the need to complete the 12 week qualifying period. The new policy allows for attendance at one or two appointments made on the advice of a registered practitioner, midwife or nurse for a period of up to six and a half hours for each appointment. Employers are not entitled to ask for evidence of appointments attended but they are allowed to ask for a declaration confirming their association with the mother and information about appointments. The written declaration should state the following:
Agency workers already have a degree of flexibility which means that even without this precise statutory right they can usually choose when to be available for work or not available for work. This is in contrast to employees that are engaged under a contract of employment, who have a responsibility to carry out their job role.
Taking time off which is not covered by the statutory right As was the case before 1st October, employers and employees or agency workers can still request to take annual leave for appointments and this should be requested, arranged and applied for in the usual way, in line with the employer’s procedures. Employees and agency workers who would like to attend more than two appointments may wish to book further unpaid time off in addition. This should be requested in line with normal procedures already in place, as you would for booking time off for a doctor’s or dentist appointment. Further information is available in the employer guide provided by the Department for Business Innovation and Skills. Outsourcing your Human Resources can save you time and money, providing advice from qualified personnel when you need it most. If you would like to speak to us about how we can support your business regarding any HR issues or any other HR related projects please contact us today on 01206 262 117.
a) That the employee or agency worker has a qualifying relationship with a pregnant woman or her expected child; b) That the employee’s or agency worker’s purpose in taking time off is to accompany the pregnant woman to attend an ante-natal appointment;
08 10
www.businessconnected.co.uk
Louise Parkes, SVC Group Information taken from the Recruitment & Employment Confederation, REC.
Human Resources SVC Human Resource provide a professional, cost-effective way to manage Human Resources. From offices in Colchester, we serve the whole of East Anglia and the UK beyond.
Human Resources Support REWARD MANAGEMENT
Outsourcing to SVC can save you time and money, providing advice from
PERSONNEL MANAGEMENT SYSTEMS
qualified personnel, when you need it most. You pay for what you want getting the exact support you require at an agreed price. Whether a
EMPLOYMENT LAW COMPLIANCE WITH CURRENT LEGISLATION
“one off” service project or a regular monthly HR service, SVC can help.
MANPOWER PLANNING
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Jim Kelland from Delphi Derivatives with Philip Hoddell from Birkett Long
2014
2014
in aid of St Helena Hospice
in aid of St Helena Hospice
Can you get nifty with a fifty?
The cost of care CONNECTED Media partner
Are you concerned about planning for your in aid of St Helen own future or that of a relative? Registered Charity Number 280919
£50 challenge DL 2014_mk2AW.indd 1
20/03/2014 17:04
6 November 2013 - 9.30am to 11.30am Prested Hall, Feering, Colchester CO5 9 7 November 2013 - 9.30am to 11.30am Ivory Rooms, 66-68 Laindon Road, Bille
Richard Pond with Chloe Winter accepting an award on behalf of The Yew Tree pub
Birkett Long £50 Challenge awards announced
St Helena Hospice your time… your hospice Registered Charity Charity Number Number 280919 280919
Corporate fundraising teams have raised a colossal £48,204,89 for St Helena Hospice’s
Sarah Lungley from Enable East with Philip Hoddell from Birkett Long
vote of thanks
£50 Challenge 2014. A special awards ceremony
also goes to
for participants from the 34 teams took place at
Birkett Long
Le Talbooth on Wednesday 15th October.
and Le Talbooth whose
Fundraising fun started in June, when
continued backing has been invaluable.”
participating businesses and groups were given
Jennie Skingsley, Associate and Marketing
a £50 note supplied by solicitors Birkett Long LLP.
Manager at Birkett Long LLP, said: “Being
The challenge was to invest this initial sum and
associated with the £50 Challenge again is so
make as much return as possible in four months.
exciting for Birkett Long. The firm’s association
Teams undertook a host of activities from auctions
with the hospice goes right back to its
and cycle rides to food sales and quiz nights.
inception, so it’s important to everyone here
Money Raised’, won by Delphi Derivatives Ltd, with an incredible final total of £25,676.70! Purcell Architects were given the award for ‘Outstanding Teamwork’, and Asda Harwich won the ‘Funniest Photo Award. ‘Most Innovative Idea’ went to Enable East and The Yew Tree pub was awarded ‘Most Media Coverage’. Birkett Long sponsored the drinks and awards, and Le Talbooth sponsored the marquee and canapes.
Shane Routledge from Asda Harwich with Philip Hoddell from Birkett Long
hospice. A huge
summer corporate fundraiser, the Birkett Long
Awards given out on the night included ‘Most
Daniel Whent and Nicky Crane from Purcell Architects
to support the
£50 challenge DL 2014_mk2AW.indd 1
that we continue to support such a vital part of our community. We love that the challenge encourages businesses to work together and that it often has a huge impact on the social activities of some of the companies taking part. The amazing amount it raises for the hospice is an enormous bonus too!” Mark Jarman-Howe, Chief Executive at St Helena Hospice said: “The challenge is a great way for local businesses, large and small, to make a valuable contribution to St Helena Hospice and
Lou Davison, Event Co-ordinator at St Helena
the cost of providing end of life care to all who
Hospice said, “Once again, this has been a
need it. It’s fantastic that teams – some of whom
fantastic fundraising achievement all round. We
have participated every year since its launch
are delighted that a record 34 businesses chose
in 2012 – give up their time and energy to give
to take part and have tirelessly arranged activities
something back to the community.”
An Introduction to
Sound Financial Planning Group The Retirement Planning Specialists
Our New Premier Partner We would like to welcome on board our latest Premier Partner, Sound Financial Planning Group, specialising in Retirement Planning and Wealth Management for Business Owners, Senior Executives and Members of the Professions. Sound has helped numerous individuals to successfully develop their individual wealth and retirement plans. Their unique cash-flow modeling tool ‘The Lifestyle Wealth Programme™’ provides a step by step process designed to help you grow and protect your wealth. For more information visit the website at www.soundfp.co.uk or call 01268 567567 for a no cost, no obligation chat.
Financial Planning Corner In each issue we will provide an update of important financial issues affecting our clients. Our current focus has been clients approaching or aged 55 who could potentially be missing out on valuable pension tax planning opportunities. On 6th April 2015 the proposal is that accessing pensions will change and any individuals aged 55 or over will be able to access
as this often gets around the current rules by suggesting you seek Independent Financial Advice and hoping that you don’t!
their entire fund, 25% tax free, with the remainder (if they require
Confusing we know, so what should people be doing? Our view
it) being taxed at their individual highest income tax rate. This
is that the only way to make the right choices is to prepare a
is good news, however there is a potential sting in the tail as If
comprehensive Financial Wealth Plan which deals with all your
not properly advised and managed there’s a danger of having
financial planning needs and not just your retirement plans. The aim
insufficient income throughout your retirement.
being to enable you to achieve and maintain your desired lifestyle,
While accessing tax-free cash now to spend on luxuries or reduce
while ensuring you never run the risk of running out of money.
debt may be tempting, it could be more beneficial to delay such an
To produce this we use bespoke financial planning software that
action. There is also a danger that if not correctly managed your
enables you to model your existing plan, and then set up draft
current £40,000 annual pension contribution allowance will be
scenarios to establish the effects of any changes you may wish
reduced to just £10,000 per annum, literally over night. This could be
to make. This in turn will enable us to produce a detailed list of
a massive issue for business owners and individuals who may have
improvement strategies for you to consider and follow. This process
been unable to pay pension contributions in earlier years and plan to
includes becoming financially well organised and areas such as
play ‘catch up’ and maximise contributions just before they retire.
business exit planning, will and estate planning and passing the
In addition we have started to see a trend for individuals in
family wealth down the generations.
deferred final salary pension schemes being encouraged to extract
Our firm belief is that a good starting point is to have your
benefits under the early retirement facility. The issue is that firms
pension options fully explained and we are happy to offer all
offering this service have no obligation to advise you upon the
Business Connected Partners a free no cost or obligation chat so
benefits you maybe losing by taking the funds early, which can
call us on 01268 567567 and ask to speak to one of our qualified
often be substantial. If you receive a phone call or something
pensions experts who will be more than happy to discuss your
through the post of this nature, ensure you read the small print
individual options.
Essex Round Up
News From Around The County Southend Business Awards 2014 Winners Business Connected was very pleased to have picked up the Best Business to Business of the year award at the Southend Business Awards recently. The Newsquest Essex Business Awards Team was established in 1996 and organise the increasingly popular Business Awards. To all the entrants, these awards are a fantastic way of celebrating success, boosting staff morale and projecting a positive image for business in Essex. The aim of the awards is to raise company awareness, increase networking opportunities and improve company image and customer confidence. The awards recognise the efforts of local companies who have one thing in common, the dedication to achieve excellence.
Multi-million pound Tollgate development could create 1,000 jobs and potentially include a cinema A multi-million pound retail and leisure park on the edge of Colchester could create 1,000 jobs. Tollgate Partnership Ltd is set to unveil a masterplan for 20 acres of land at Tollgate, Stanway, next month.
Essex law firm raises over £21k for local charity at black tie event Mullis and Peake solicitors based in Romford, Essex raised an astonishing £21k for their 2014 chosen charity of the year SNAP (Special Needs and Parents) at a charity ball in celebration of the charity’s 20th anniversary. The event was attended by 200 guests at Stock Brook Country Club on September 26th and during the course of the evening guests enjoyed three course dining before taking part in a live auction and trying their luck at the casino tables. Later music and dancing followed to Frankie Valli and The Four Seasons tribute act ‘The Other Guys’. The amount raised from the evening has been announced as £21,246.30 and Hilary Needham MBE, Manager of SNAP commented of the news: “we are all so pleased that it raised such an incredible amount and we couldn’t have done it without Mullis and Peake.”
The land, including the former Sainsbury’s site, could be turned into a gateway hub for Colchester if it gets the go-ahead. An estimated 480 jobs could be created during construction of the development, with a further 450 being employed within the completed site.
Wanna be an entrepreneur? Friday 16th January 2015 The purpose of this exclusive extravaganza is to offer start-ups and young adults the opportunity to really understand what it takes to start and grow a business. An unforgettable day, which will provide them with an opportunity to hear and meet real life entrepreneurs making a difference in the world.
CONNECTED
What the delegates get: an opportunity to understand what it takes to start and grow a business, a chance to meet and network with the speakers, to understand how to build a brand and to overcome any fear to move forward.
For more from around the county and to find the sources to all of these and many more Essex news stories please visit www.businessconnected.co.uk Business news stories are updated every day.
If you are a start-up or are less then 3 years old, your ticket is ONLY £10, which is fully refunded when you turn up on the day! Check this website for ticket details! www.WannaBeAnEntrepreneur.co.uk
BUSINESS
ESSEX
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The development could potentially include a bowling alley and cinema, as well as shops and restaurants, although specific proposals have not yet been drawn up.
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All Things | Scene Developing great marketing strategies and delivering with... Websites
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T: 01702 292 161
ESSEX COUNTYWIDE WINNERS 2014 – SMALL BUSINESS OF THE YEAR
Are you looking to hire new staff? Why not try Success Recruit ? An award-winning local recruitment agency, providing first class temporary and permanent recruitment solutions to professional companies in Essex and London. At Success we have a clearly defined and unique approach to recruitment that helps us provide businesses with people who can help them thrive and grow. Our ethos is to make the consultancy process about taking the time to learn about your organisation and what makes it tick; this helps us to provide an outstanding award-winning service. If you want to find out more about Success Recruit and our areas of specialism and what our partners are saying about us visit successrecruitltd.co.uk or call us on 01245 409 839 and discover the best !
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Your City Centre Venue
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The Essex County Ground, New Writtle Street, Chelmsford, Essex CM2 0PG
Technology Update
Cyber Security – What Is All The Fuss?
T
he growth of the internet has transformed everyday lives and is an important part of the UK economy. The internet-related market in the UK is now estimated to be worth £82 billion a year while British businesses earn £1 in every £5 from the internet. But with greater openness, interconnection and dependency comes greater vulnerability. The National Security Strategy categorised cyber attacks as a Tier One threat to national security, alongside international terrorism. The threat to national security from cyber attacks is real and growing. Terrorists, rogue states and cyber criminals are among those targeting computer systems in the UK. 81% of large corporations and 60% of small businesses reported a cyber breach in 2013. On average more than 33,000 malicious emails are blocked at the Gateway to the Government Secure Intranet (GSI) every month. These are likely to contain - or link to - sophisticated malware. A far greater number of malicious, but less sophisticated emails and spam are blocked each month. With the cost for the worst cyber-security breach estimated between £600,000 to £1.15 million for large businesses and £65,000 to £115,000 for smaller ones, the business world along with government must look at new ways to protect business operations and become more resilient to cyber attacks and crime. The nature of cyber threats continues to change on an almost daily basis which in itself poses issues for IT security vendors who are required to react to technical vulnerabilities as swiftly as possible. The threats whilst of a technical nature are often assisted by users’ lack of awareness of the dangers and the forms, and delivery methods, of malware.
Best Practice Options The need to protect computer stored data and other business information is not new but the need for all businesses and organisations to be better organised has become more recognised and accepted over recent years. Larger organisations and those handling credit card data have adopted best practice standards or have had standards required of them, namely, PCI-DSS in relation to credit card data in order to operate.
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The information security standard ISO 27001:2013 provides a framework for organisations to adopt and be audited against in order to demonstrate good security practices but moreover to protect their information and their business. This standard has been available for a number of years, however, its adoption by SMEs has been limited generally due to a lack of cost-benefit justification – this is also cited by some larger businesses too. The need for best practices to be adopted by all businesses is recognised as essential to protect the UK economy and as such the Government has encouraged and supported the development of IASME, a security standard specifically for SMEs. The standard could be described as ‘27001 lite’ but only because the cost of implementation, auditing and maintenance is much less. In June 2014, HM Government launched through the Department for Business, Innovation and Skills (BIS) two new cyber specific standards, namely, Cyber Essentials and Cyber Essentials Plus with a view to enabling businesses of any size to adopt the standard and to demonstrate good security provisions. SMEs now have the choice of three standards, IASME, CE and CE Plus with the clear benefits of knowing that the data held within the scope of their business system is protected using a recognised best practice. The process of adopting the preferred standards starts with the choice of the most appropriate standard which will be based upon the sensitivity of the data held, the risks to the business of data loss, and the costs of gaining the audited accreditation selected. Yellowspring has actively contributed to the development of the CE standards and is well placed to advise and guide businesses in enhancing their security provisions as well as securing the CE accreditation.
* Written by Paul Rolison, Yellowspring Ltd IT Consultancy based in Laindon, Essex www. yellowspring.co.uk
Cyber Essentials scheme If you hold sensitive information about clients, customers or any Third Party, are you sure your security measures are sufficient to protect against the growing number of Cyber attacks?
Cyber Essentials is a Government initiative designed to help responsible businesses demonstrate that they take Cyber security seriously and have implemented controls to protect data held about their clients and connected parties.
Yellowspring has the skills and experience to help you develop your security using technology and importantly process controls, and if certification is required Yellowspring can guide you through the process.
Telephone Maria West on 01268 494 101 to arrange a meeting or email: cyber@yellowspring.co.uk
Yellowspring Ltd Astra House, Christy Way, Laindon, Basildon, Essex SS15 6TQ.
www.yellowspring.co.uk/cyber
REGIONAL
NOT REMOTE Arthur J. Gallagher, one of the largest insurance brokers in the world, is pleased to announce that it has launched in Essex and the surrounding areas. From its Rayleigh office, Arthur J. Gallagher provides local market knowledge from highly trained insurance professionals. As well as a broad range of products, we also have access to a wide number of insurers and the commercial benefits of a large organisation. Arthur J. Gallagher is offering to conduct a free confidential technical audit of your Insurance and risk management programme if your company pays more than ÂŁ10,000 in premiums each year. The audit will establish, among others things, if your programme is a good fit for your business; if it will respond, as you expect it to, should you need to make a claim, and whether it is structured in the most efficient way to give you the best value for money.
Contact Andrew Sinclair today to secure your audit on:
01268 602 602 or email us at
enquiries_rayleigh@ajg.com
Arthur J. Gallagher Insurance Brokers Limited is authorised and regulated by the Financial Conduct Authority. Registered Office: Spectrum Building, 7th Floor, 55, Blythswood Street, Glasgow, G2 7AT. Registered in Scotland. Company Number: SC108909. FP445-2014
01277 230347 | nicole@antonybatty.com | www.antonybatty.com
Help when you need it most Founded in 1997, Antony Batty & Co LLP is an established and well respected Insolvency Practice with offices in London and Brentwood. Specialising in Business Recovery and Turnaround, Corporate Insolvency and Financial Restructuring, the Brentwood office is headed up by Nicole Southwell who has over 22 years experience in helping businesses across Essex and the UK.
Nicole Southwell Head of ABC Brentwood
We pride ourselves on giving Companies and Directors professional, honest advice, and our initial ‘no obligation’ meeting is confidential and free of charge. Our aim is to guide our clients through the available options, treat them with courtesy and respect, and make the process as straightforward as possible. We have extensive experience in most areas of business, with Construction, Travel, Transport and Retail being particular specialties. Our Firm has over 150 years combined experience. Testimonial – Sharon Tisdall, Company Director As a Director of an insolvent company, Nicole’s advice was really appreciated. She helped to ease the pressure and worry out of a very stressful situation by taking a hands on approach, explaining my options carefully and guiding me through this difficult period. I would thoroughly recommend Antony Batty & Co to anyone in a similar situation. Contact our team in Brentwood to get some impartial and confidential advice on 01277 230347 or email Nicole Southwell nicole@antonybatty.com
Gary Waskett Business Development Manager ABC Brentwood
Essex Networking Events Recommended by Business Connected
Dec
Dec
Dec
Dec
08 & 22
12
Dec
04 05 08 Friends of
Business Connected
4N Rayleigh
Success in the City
Billericay
Braintree Town
@Essex Cricket Club
The Hungry Horse,
The Bay Horse,
Professionals Lunch
Braintree Town FC,
Chelmsford,
Down Hall Road,
Chelmsford,
Bar Zero, CM12 9DZ
CM7 3RD
CM2 0PG
SS6 9JF
CM2 0LG
1.00pm to 3.00pm
4.30pm to 6.30pm
7.30am to 9.30am
8.00am to 10.00am
5.00pm to 7.00pm
Cost: Free
Cost: Free
Cost: £20.00
Cost: £12
Cost: Free
Membership Required:
Membership Required:
Membership Required:
Membership Required:
Membership Required:
No
Optional
No
Yes
No
Dec
For more information
Dec
15 16
on any of these events
Dec
Dec
17 18
please call Richard on 01702 513113
4N Chelmsford Central
Thurrock Biscotti
EBN Basildon
Friends of the City
Atlantic Hotel,
Brewers Fayre,
The Burstead Golf Club, Chelmsford City FC,
CM1 1PP
Thurrock, RM16 6YJ
CM12 9SS
CM1 2EH
8.00am to 10.00am
9.15am to 11.15am
7.00am to 8.30am
12.00 noon to 2.00pm
Cost: £12.00
Cost: Free
Cost: £10.00
Cost: Free
Membership Required:
Membership Required:
Membership Required:
Membership Required:
Yes
No
Yes, £195 per year
Optional
Flexible, productive ne You can network at any 4Networking breakfast. With over 5000 4Network Our meetings are relaxed, friendly and open to anyone, so pleas 20
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Sponsored by
Jan
Jan
Jan
Jan
Jan
05 & 19
06
12 & 26
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14
4N Rayleigh
Bishop’s Stortford
4N Chelmsford Central
Success in the City
EBN Basildon
The Hungry Horse,
Chamber of Commerce
Atlantic Hotel,
The Bay Horse,
The Burstead Golf Club,
Down Hall Road,
Great Hadham
CM1 1PP
Chelmsford, CM2 0LG
CM12 9SS
SS6 9JF
Golf Club, SG10 6JE
8.00am to 10.00am
5.00pm to 7.00pm
7.00am to 8.30am
8.00am to 10.00am
8.00am to 10.00am
Cost: £12.00
Cost: Free
Cost: £10.00
Cost: £12
Cost: £15.00
Membership Required:
Membership Required:
Membership Required:
Membership Required:
Membership Required:
Yes
No
Yes, £195 per year
Yes
Optional
Jan
Jan
Jan
Jan
Jan
16 16 20 23 30 Chelmsford
Billericay
Thurrock Biscotti
Business Connected
Harlow
Professionals Lunch
Professionals Lunch
Brewers Fayre,
@Colchester United
Professionals Lunch
Missoula, Springfield
Bar Zero, CM12 9DZ
Thurrock, RM16 6YJ
Colchester United,
Park Inn, CM18 7BA
Road, CM2 6JE
1.00pm to 3.00pm
9.15am to 11.15am
CO4 5UP
12.30pm to 2.30pm
1.00pm to 3.00pm
Cost: Free
Cost: Free
7.30am to 9.30am
Cost: Free Membership Required: No
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etworking across Essex king meetings a year across the UK, you can network anywhere, anytime. se book into one today. For full details visit www.4networking.biz www.businessconnected.co.uk
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Business Advice
Energy – Are The Lights Staying On This Winter?
I
t is over 40 years since the 3-day weeks of the 1970’s and the regular blackouts of the “winter of discontent”, but it appears that the winter of 2014 could see us returning to these desperate times. The winter outlook energy report published by National Grid in October 2014 predicted that the expected margin between generating capacity and peak demand could be as low as 2.8% if severe weather hits the UK during the season. So what has caused this position?
Climate Change There are two main factors driving the worsening of the UK energy supply position. The first is the UK government’s climate change policy. As part of it’s commitment to climate change targets on a global basis, the Government has set the UK the following targets: • To produce 30% of electricity from renewable sources by 2020; • To cut greenhouse gas emissions by 50% on 1990 levels by 2025; • To cut greenhouse gas emissions by 80% on 1990 levels by 2050. This has led to the mothballing of older less efficient power stations and a need for a huge investment, some say as much as £330bn, in new infrastructure to help meet these targets. The second factor is our continued and increased reliance on foreign imports of energy. As our own supplies of gas and oil decline so we are forced to look further afield for supplies to meet our shortfall. Threats such as Russia turning off its energy exports would have a significant impact on the UK. An event such as this would lead to the UK seeking imports from even further afield resulting in greater cost.
Energy Efficiency However, it’s not all doom and gloom. Whilst a business can do nothing about the overall UK position there are actions that can be taken, and as the saying goes, “every little helps”. Energy efficiency should be high on a list of a company’s priorities. A business can’t affect the price it is paying for a product, but it can certainly affect the amount of use. Some businesses will have no choice but to adopt energy efficient measures. As part of the EU Energy Efficiency Directive the UK has introduced the Energy Savings Opportunity Scheme or ESOS for short. Although this only applies to large undertakings, those with turnover greater
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than €50 million or a balance sheet greater than €43million, it also applies to companies with more than 250 employees. It is this last criterion that may mean certain organisations that may not consider themselves large fall foul of the legislation. Nursery Groups are a prime example, as the numbers of staff are added together across all sites of the business, so it will not need many sites for a large national nursery group to exceed the employee criteria. What does this all mean however? In essence it forces the companies who meet the criteria to measure total energy consumption, conduct energy audits to identify cost effective efficiency recommendations and report compliance of these obligations to the Environment Agency. It also provides smaller businesses with incentives to early adopt and provides a great opportunity to look at what they can do to improve the efficiency of their usage.
LED Lighting The use of LED lamps has often been one of the key measures that companies have undertaken to improve their energy efficiency, and in October 2014, the inventors of these devices were honoured with the Nobel Prize for Physics. The Department for Energy and Climate Change estimate that in service industries, 75% of energy consumption is in 3 areas: heating, lighting and hot water. So, if a business can make reductions in one area such as lighting then the potential financial benefits can be significant. In the early days LED lamps received a lot of bad press, poor quality products manufactured in countries with poor quality control meant that many organisations were put off. However, the landscape has now changed. Manufacturing techniques have improved, and many of the UK’s lead suppliers now own their own manufacturing facilities. With better quality products comes better efficiency. Usage from an LED bulb can be 70% less than its equivalent halogen or incandescent bulb. Not only does the bulb use significantly less energy but also there are additional benefits such as reduced heat output. It now means that an LED lamping project can deliver payback in as little as two years, with little disruption to the business.
Tel: 01279 722167 Mobile: 07803 246737 Email: lee.freeman@auditel.co.uk Lee Freeman, Auditel
Do you have the time and resources to manage your energy effectively? If not, you may be using outdated equipment that is bad for your business and bad for the environment.
ARE YOUR LIGHTS STAYING ON THIS WINTER?
The pressure is mounting on all organisations to reduce their energy usage by switching to leaner and greener technologies. But finding the best match for your business needs without expert guidance is a minefield and mistakes can be very costly. Auditel is the country’s leading provider of energy management services. Not only can we save you money, but using our hard won knowledge and expertise we can also ensure that your organisation is taking full advantage of government and EU initiatives and using the most environmentally friendly technologies which best fit your needs.
“I’ve been genuinely surprised and impressed by the savings Auditel has found as I really thought we were in a good position in terms of our existing contracts.”
Contact Lee Freeman today to book an Auditel Energy Health Check and ensure your energy usage is mean, lean and green.
T: 01279 722167 M: 07803 246737 lee.freeman@auditel.co.uk www.auditel.co.uk/leefreeman
Fully equipped to manage all your business costs
V I S U A L I S AT I O N A N D A N I M AT I O N FOR ARCHITECTURE, MARINE AND PRODUCT DESIGN
Introducing
Rise offers a unique mobile Augmented Reality solution for iOS and Android. Augmented Reality gives your customers the power to view 3d models in 360ยบ glory on their mobile phone or tablet, against the backdrop of the real world! In the next edition of Business Connected we will have a live demo page in the magazine. We will also be showcasing our amazing app at Business Connected @ Colchester United on 27th February. For further information on this and how to get the app, please call us on 01787 223674.
www.cgeyeltd.com
Show your business in the best light
printwize.co.uk Printers of Business Connected
A History of Success
Geerings Today When Walter Geering established the company in 1903 it was founded on timeless principles which are still important today. Geerings is now a modern, multi-faceted business serving customers across a variety of sectors throughout the UK and overseas. From choosing a single copier or printer to deciding how to configure an entire network of devices with supporting software, the Geerings team always fit the outcome around their customers’ business needs. For reliable and secure solutions that reduce costs, save time and improve efficiency, call Geerings for an appraisal of your specific requirements.
Tel: 01245 201138
First Tour De France bicycle race. Hayley’s Comet first seen with the naked eye. Adolf Hitler appointed Chancellor of Germany; Loch Ness monster first spotted.
1903
Firm founded by Walter Geering.
1910s
Retail stationary business opens in Ashford.
1930s
Appointed agents for Imperial Typewriters. K.R. Geering and W.R. Geering Jr. appointed Joint Managing Directors.
1940s
Office equipment branches open in Dartford and Maidstone.
Car seat belts introduced; Coronation of Queen Elizabeth II.
1950s
Equipment showroom opens in Maidstone; larger showroom opens in Dartford; new site bought in Ashford for built furniture and paperstore.
Neil Armsrong walks on the moon.
1960s
R.M. Geering appointed Managing Director; First copier sold.
Hayley’s Comet passes by.
1980s
Geerings expands into new offices to accommodate the growth of the copier division.
Chilean miners come to the surface.
2010s
W.J.R. Geering appointed Managing Director; Geerings expands into Surrey with the opening of it’s office at Shepperton Studios.
Polaroid cameras invented.
Pope Benedict 16th announces his resignation.
2013
Geerings’ 110th Anniversary.
100th Anniversary of WWI.
2014
Geerings expands it’s services into Essex.
Printing for Professionals
www.geeringsdigital.co.uk
Start growing your business today The Fleximize Refer-a-Friend Scheme If you know of a business that may benefit from our flexible financing solutions then let us know. We’ll contact the owner and if a loan is approved we’ll pay you £300 or give you an iPad Mini* (*December 2014 only). For more information, email hello@fleximize.com or call us on 020 7100 0110. You can also sign up as an introducer at www.fleximize.com/ introducers This is a limited time offer the reward is subject to change following 31/12/2014
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Refer a fellow business owner
We contact them
Loan approved
You receive £300 or an iPad Mini*
020 7100 0110 | hello@fleximize.com www.fleximize.com
(*December 2014 only)
Business Coach
What Is My Business Worth?
W
hat is my business worth? There is no more important question as a business owner that you can ask yourself.
Except perhaps: What is my business worth now? How much can it be worth tomorrow?
As Warren Buffett, that most prolific investor commented: “If business schools could offer just one course, it would not be on stock trading, the efficient market hypothesis or modern portfolio theory. Rather, Business schools should be encouraging students to learn the boring, but critically important, discipline of business valuation.”
Why? Because if you don’t know its current worth and its potential value how do you know if what you’re doing today is literally going to pay off tomorrow?
Now as the business owner, leader, chief cook and bottle washer it’s unlikely you’ll be settling in to become a student of valuation methodologies and techniques.
Typically owners only seriously considered the value of the business when something unexpected happened. The effect of some of these things on retirement plans/exit strategy, legacy, quality of life, relationships and sense of achievement could be devastating.
So how do you get the information you need in a format that’s easy to digest? It is now possible to get your own BusinessVALUATION with a full year’s access to the first and leading online business valuation system. A cloud-based service that helps you determine the value of your business and provides a dynamically driven Valuation Report, including multiple value scenarios and comparative market data.
Planned & unexpected factors that may drive you to consider changes in ownership and business value include: • • • •
Gift and estate tax planning Death or disability of the primary owner – yes you The unexpected loss of a key employee Unsuitable succession plans or no family members to take over the business • You “burn out” or crave something new • A prospective buyer approaches you with an unsolicited offer • Your business or personal relationships dissolve • The business is underperforming and possibly heading towards bankruptcy The market is now starting to move towards a more proactive requirement where owners increasingly want to be working on their business to add real value as part of their longer term plans. A proactive valuation can give you the data for how your business is performing. Especially in those key areas that impact the fair market values of your most important asset… your business. When you know how much your business is worth you are better equipped to weigh risks and rewards and to make informed decisions. Big picture risk and reward factors are: The cash flow or amount of “discretionary earnings” available to you, the owner The risk profile of your past and projected cash flows and their stability Market factors such as demographic trends, economic forecasts and business specific transaction activity Your potential for growth taking into account the above three factors
The output, customized to your business provides: Four different valuation estimates representing a range of scenarios Financial summary & assessment relative to industry data Comparative analysis of Income, Cash Flow, Assets, plus other metrics & critical success factors Financial, business and growth characteristics to calculate your business’ value This information can help you to focus on those key areas that really add value to your business. What are they and how can you measure them? Use the definition that the value of your business depends on the future expected, risk-adjusted, net cash flows generated for your benefit. For example, as the keystone of your business if, for whatever reason, you’re not part of the business then the cash flows are at risk. What is the effect of cash flow being less dependent on you making to the worth of your business in real terms? How can you quantify it? What tools do you have to review progress against? An effective business strategy requires careful planning and involves a clear understanding of the current and expected value of your business. Whatever course of action you choose, plan a strategy that gives you options irrespective of the ideal timeline for executing your plan and make sure you know the value of your actions. If you would like to know more about how BusinessVALUATION can help your growth, then please contact Kevin Clark.
In short the value of your business depends on the future expected risk-adjusted, net cash flows generated for your benefit. That dependency means that anything that you can do to increase cash flows and/or lower their risk will enhance your business value. So monitoring the value of your business should become a regularised part of your planning and actions rather than a reactive one-off.
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Tel: 01799 513264 Mobile: 07435 964224 Email: kevinclark@actioncoach.com Kevin Clark, Business Coach
A business directory brought to life Thursday 12th March 2015 10am – 4pm
• Networking Opportunities • VIP Receptions • Seminar Theatre • Speed Networking • CUFC Stadium Tours Event Sponsor
Show Support Partner
Show Support Partner
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Charity Partner
Exhibitor or Visitor information:
01206 752443 | www.colchesterunited.net
Pro-active Accounting with on-going support and advice with strategic business analysis to help you achieve your goals, whoever you are . . .
Richard Bayliss Managing Director
“I didn’t realise how much money I could save before speaking to you. Thanks for all your good advice!” Darren Vallance, CAD Services The LowTax Group is a dynamic firm of Tax Accountants and Business Advisers who specialise in helping you keep what you earn. We focus on reducing your exposure to tax and provide a full range of services for businesses, contractors and freelancers, sole traders and individuals. As an owner managed business ourselves, we have experience of starting out contracting and moving through the process of growing our client base to establish the successful company The LowTax Group we are today. Head Office
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Â?ord
Auto Enrolment
Workplace Pensions – New Laws That Impact All Employers
I
n October 2012, the UK Government’s new Workplace Pensions Reform legislation came into effect. For the first time, if you employ at least one member of staff, you will be required to assess your workforce and automatically enrol eligible employees who meet certain age and earnings criteria into a qualifying workplace pension plan and make minimum contributions to that plan. This is known as auto enrolment. Your auto enrolment obligations begin on your staging date. This is a date which has already been allocated to you by the Pensions Regulator. There are specific actions you must take at your staging date.
Let us demystify some common misconceptions • You do not assess and auto enrol just once, you have to do it every time you run your payroll • If you already have a company pension plan, you are not excluded from the new laws and you still need to check your plan, assess your workforce and auto enrol where required • You can postpone auto enrolment but your staging date remains the same and you must communicate with all staff at your staging date AUTO ENROLMENT IN A NUTSHELL Stage 1 – Get Set - From Now to Your Staging Date • Check your Staging Date • Review your workforce, data, HR and payroll processes • Decide on your Qualifying Pension Plan • Liaise with your third party payroll provider • Consider and source software solution for assessment automation if payroll is unable to do this • Analyse costs and prepare budget. Consider cost saving options such as Salary Exchange • Decide on Postponement • Prepare and implement a Communication Plan and prepare staff communications • Get HR contracts of employment in order • Develop suitable processes for ongoing administration
Stage 2 – Get Going - At Your Staging Date • Assess your workforce against age and earnings criteria at your Staging Date or Postponement date • Automatically enrol eligible jobholders into pension scheme at Staging Date • Manage employees who wish to opt-out and process pension contribution refunds
• Auto enrolment applies to all workers on a contract including fixed term and temporary workers and some self-employed people • Eligible employees must be auto enrolled before they can opt-out of the pension plan
What next? Approximately one million businesses with less than 50 employees are due to go through the auto enrolment process between now and 2018 meaning that there will be a significant number of businesses all looking for similar specialist support over a very short space of time. Auto enrolment is inherently complex and we recognise that as small business owners and managers, you need a solution that transfers auto enrolment knowledge and actions in a coordinated and cost effective way so that you can meet your compliance obligations and avoid costly fines. This is where AE Wizard can help you! Fiona Cowie, Pension Auto Enrolment Specialist, has designed AE Wizard, an innovative auto enrolment solution, specifically for small businesses which may lack the infrastructure, budgets and resource of a larger business.
About AE Wizard AE Wizard is an affordable, easy to use, online auto enrolment toolkit to enable you to plan and implement your own auto enrolment project, at your own pace, in order to meet your new workplace pension’s legal obligations. The AE Wizard toolkit incorporates video tutorials, step by step instructions, auto enrolment assessment and cost calculators, checklists, flowcharts, template documents and much more. AE Wizard takes away the worry and confusion about how to deal with the new legislation and saves time by taking you step by step through all of your auto enrolment planning and implementation tasks ensuring that you meet your obligations in the most efficient way possible. You can use AE Wizard if you are ahead of your staging date, at your staging date and even if you have missed your staging date. Find out more and try it for free at www.aewizard.co.uk or tweet @autoenrolwizard and we will get in touch.
• Complete your Declaration of Compliance with the Pensions Regulator
Stage 3 – Keep Going - From Your Staging Date Onwards • Assess your workforce every time you run your payroll
• Implement record keeping and reporting procedures
Mobile: 07968 958252 Email: fiona@aewizard.co.uk Web: www.aewizard.co.uk
• Re-enrol opted out employees
Fiona Cowie, Director, AE Wizard
• Automatically enrol eligible jobholders within 6 weeks of their assessment
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Finance Director Case Studies from CBHC
www.cbhc.uk.com
I thought it would be useful in this edition to highlight
As a result of implementing Xero, we have helped the client
some case studies where we have produced real tangible
save over ÂŁ20k per annum in overall accounting costs. In www.cbhc.uk.com
benefits for clients as a result of moving them over to Xero and providing a cloud-based accounting solution for them:
Lighting Company Our client had previously been using QuickBooks to maintain their accounting records with all sales invoicing
Passion energy commitm Our aim is to support you addition, as we now handle the cash flowgoals and accounting your for them, the management team are free to focus on the key Passion energy commitme aspects of their business that facilitate growth Our aim isand toimprove support you your services including having more time for goals customer facing work, building an effective sales strategy and fully focusing on the needs of their customers.
and payroll maintained there as well as sales and bought
The transformation of the company has been clear to see
ledgers. Only the accounts manager had access to the
and our involvement with Xero has been fundamental to
system which meant the managing director did not always
this success.
have key figures to hand to facilitate decision making.
IT Support Services Company
Converting the client over to Xero at the end of 2013,
Our client based in the City, had previously used the Sage
gave the managing director 24/7 access to the company’s
Line 50 accounting package for a number of years. Because
financial numbers which has helped him to make well
their accounts manager was part-time they only had access
informed decisions about the company’s ongoing strategy.
to their key numbers on the days she was working - outside
In addition, as all processing included sales ordering,
of that time no one had the knowledge or confidence to go
purchase ordering and cash control are managed within
in to the system and run reports off.
Xero, the company has also benefited from accurate inventory information which in turn has facilitated better control and improved cash flow.
On our recommendation, the company converted to Xero in summer 2014 and they have been delighted with the results. The accounts manager can now work remotely in Xero and as we also have full access to the system, we can provide additional support whenever it is required. The Xero system has also provided a further potential income stream for the company as it integrates seamlessly with so many other systems including CRM and ERP. This means they are increasingly able to provide this as part of the IT services they offer their clients throughout London and Essex. Once again, profitability has increased sharply since the Xero implementation. The company is more relaxed about their key numbers, knowing that we are keeping a
outsource@cbhc.uk.com www.cbhc.uk.com watching brief and our quarterly finance meetings with
annum, which in turn has had a substantial impact on their
them have triggered some very profitable activity as a result.
bottom line.
Having good quality key financial information for a company will always help to improve profitability and the very small investment in Xero, which is included in our fixed monthly fee, has been recouped many times over.
Manufacturing Company When we started acting for this client in the winter of 2013, the company was comprised of three separate entities based on their differing products lines and most of the accounting records were maintained on the Sage 200 system at a cost of over £20k per annum. The client had an in-house Financial Director as well as accounting staff, however, the accounting team were struggling to produce regular and accurate management accounts due to bank reconciliations being behind, issues with data capture and difficulties in intercompany balance agreement. After the three companies were transferred into one entity in early 2014, we converted all the Sage data over to Xero. As this could not be automated (as is the case with Sage Line 50), we had to export all data via csv files into Xero. The process had to be completed within 24 hours otherwise the client would have had to pay the licence renewal fee of £20k for the Sage software as the Sage re-seller would not let the client buy a licence for a few weeks. We were able to achieve successful implementation and have the client full operational on Xero within just three days. We also took over as FD for the client and provide detailed management accounts for the company within five working days of month end. In addition, the bank is reconciled daily, as is their invoice discounting account and we have implemented a purchase order processing system so all purchases are formally agreed and authorised before any costs are incurred. The company’s fortunes have been transformed by having good financial controls in place and they have achieved an overall saving in accounting costs of in excess of £70k per
The foregoing is only a small example of the many success stories achieved by using both ground breaking technology in accounting and providing a service which breaks the mould in terms of the accountant - client relationship. This is only the start, and I can see many more successes on the horizon. If you would like to find out how Gary White and his team at CBHC can help your business grow its profits by adopting new accounting technology and using the services of a virtual finance director please email him at gary.white@cbhc.uk.com or call him on 07595 650690.
Charity News
Heart Health
T
he medical term “cardiovascular disease” (CVD) covers heart disease, strokes and diseases of blood vessels, principally arteries, damage to which most problems can be traced. Heart disease is the single biggest cause of death in the UK causing about 146,000 heart attacks each year and 94,000 deaths of whom a third never even get to hospital. Adult CVD affecting the heart usually presents as disturbances of heart rhythm, angina, a heart attack or heart failure.
Heart Rhythm The heart rate is controlled by its own internal “pacemaker” which responds to exertion and rest by speeding up or slowing down respectively. Abnormalities may cause the heart to beat too fast (“tachycardia”), too slowly (“bradycardia”) or irregularly, causing palpitations – usually harmless – or if permanent, “atrial fibrillation”. This is dangerous and a common cause of strokes. It therefore requires treatment and any persistent rhythm abnormality should be reported to your GP.
Heart Muscle Disease The heart’s own blood supply flows through two main coronary arteries, 3-4mm in diameter. If they become narrowed by atherosclerosis due to deposition of cholesterol in the wall of the artery, insufficient blood is supplied to the heart muscle, especially when the heart rate quickens due to exertion or stress, and a “vice-like” chest pain called “angina” results. Typically angina disappears with rest or is relieved quickly by drugs. If an angina-like pain persists, is accompanied by pain going down the inside of the left arm and shortness of breath or fainting, suspect a heart attack and call 999. Don’t delay. Rapid treatment may be life-saving and may prevent permanent damage weakening the heart muscle and leading to “heart failure”. “Heart failure” due to muscle damage and circulatory problems leaves the heart unable to cope with everyday tasks and the sufferer becomes tired, breathless and develops swollen ankles.
Arteriosclerosis is a thickening and hardening of the arteries often due to atherosclerosis in which plaques of fat and cholesterol build up. Both narrow the arteries leading to high blood pressure and blockages, causing pain in leg muscles on exertion (“claudication”) or angina as described above. Sudden blockage of brain arteries causes strokes. Alternatively weakening of arterial walls can cause leakage of blood in the brain, similarly causing strokes. A potentially catastrophic weakening may occur in the abdominal aorta, the largest artery in the body carrying blood to the torso and limbs. Silent expansion then rupture of the aorta kills 6,000 UK men each year. There is now a simple NHS ultrasound screening scan available for men aged 65 and over to detect the problem, allowing surgical correction before a fatal rupture can occur. Strokes occur when a brain artery narrowed by atherosclerosis blocks up suddenly causing death of the area of brain supplied by the artery. Alternatively an artery weakened by disease or subject to too high a blood pressure may leak or burst, similarly resulting in irreparable damage to the brain affected or, of course, death.
Impotence – A Warning Sign Because the arteries supplying blood to the penis are tiny, their blockage manifesting as impotence may be the first sign of generalised arterial disease, especially coronary artery disease, and warrants a full check and heart risk assessment by a GP.
Prevention is Better than Cure Although you can’t alter some things such as a family history of heart disease or your age, there are some key heart protection steps you can take: 1. Don’t smoke or use tobacco products. 2. Get active! Regular exercise is vital. 3. Eat a heart healthy diet. 4. Maintain a healthy weight and check your blood pressure regularly – “know your numbers”. 5. Make full use of company medicals or the NHS cardiovascular checks offered by GP surgeries for men age 40-75.
Circulation Problems High blood pressure (BP) – “hypertension” – is defined as a pressure persistently above 140/90mmHg. It is frequently silent until it causes heart failure, a stroke, kidney disease and sometimes dementia. Though its causes are often unclear, its detection early is important to avoid the above complications. So, get your BP checked regularly and “know your numbers”.
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Tel: 01206 321253 Email: chris.booth@chaps.uk.com Chris Booth, FRCS, CHAPS Clinical Director
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