CORNWALL'S PREMIER BUSINESS RESOURCE FOR ALL THE LATEST NEWS AND OPINION
businesscornwall.co.uk
FEBRUARY 2024 | ISSUE 174 | £5.95
FINANCE & FUNDING
FUTURE PLANNING
HEALTH & WELLBEING
WELLNESS AT WORK
PASSING THE BATON
FACE TO FACE WITH WWA’S ANDY SNAPES AND JAMES BECKLY
01326 312707 stmichaelsresort.com
Feel good again
Vertu Land Rover Truro 6 Cornwall Business Park West, Scorrier, Redruth, TR16 5BN 0344 234 6119 vertumotors.com/land-rover Official Fuel Economy and CO2 results for the Range Rover Sport Autobiography 23MY extended-range Plug-In Electric Hybrid range in mpg (1/100km) (weighted combined): 353.1-313.9 (0.8-0.9). CO2 Emissions (weighted combined) 18-20g/km. Equivalent all-eletric range: 70 miles (112 km). The figures provided are as a result of official manufacturer’s tests in accordance with EU legislation with a fully charged battery. For comparison purposes only. Real world figures may differ. CO2, fuel economy, energy consumption and range figures may vary according to factors such as driving styles, enviromental conditions, load, wheel fitment, accessories fitted, actual route and battery condition. Using 50kW rapid DC charger. Charging times will vary dependent on many factors, including: the age, condition, temperature and existing charge or the battery facility used and duration of charge. For more information and to configure your vehicle visit landrover.co.uk. Vertu Land Rover is a trading name of Albert Farnell Limited which is an authorised representative of Bristol Street First Investments Limited, which is authorised and regulated by the Financial Conduct Authority. Company registration number 00391896. VAT Registration number 902737238. Registered office: Vertu House, Fifth Avenue Business Park, Team Valley, Gateshead, NE11 0XA.
FEBRUARY 2024
INSIDE FEATURES
REGULARS 4 INCOMING WHAT STEPS DO YOU TAKE TO AVOID BURNOUT AT WORK?
6 BUSINESS NEWS 8
CEO INTERVIEW IN CONVERSATION WITH WWA SENIOR PARTNER JAMES BECKLY AND CHAIRMAN ANDY SNAPES
14 FINANCE & FUNDING FROM EXIT PLANNING TO PEER TO PEER LENDING
28 HEALTH & WELLBEING LOOKING AFTER A BUSINESS’ MOST IMPORTANT ASSET
ISSUE 174
ALL CHANGE AT CROWDFUNDER
36 ON THE MOVE MOVERS & SHAKERS
37 FOOD & DRINK PAUL AINSWORTH BOOK
38 CREATIVE & DIGITAL HIYIELD BECOMES A B CORP
39 TOURISM NEWS MANNINGS ON THE MARKET
40 EDUCATION & TRAINING NEWS NEW CHAIR AT FALMOUTH UNI
41 CHAMBER NEWS CHAMBER CEO KIM CONCHIE
42 JUST A THOUGHT BERT BISCOE ON RURAL FUNDING
44 CONNECTED WHAT’S GONE
46 EVENTS DIARY WHAT’S ON
48 THE LAST WORD KIRSTY DAVEY FROM COODES SOLICITORS
PHOTO: THE NATURAL FIBRE COMPANY SEE PAGE 15 FOR MORE
BUSINESS CORNWALL | 1
ISSUE 174
FEBRUARY 2024
WELCOME
CORNWALL'S PREMIER BUSINESS RESOURCE FOR ALL THE LATEST NEWS AND OPINION
businesscornwall.co.uk
FEBRUARY 2024 | ISSUE 174 | £5.95
FINANCE & FUNDING
FUTURE PLANNING
HEALTH & WELLBEING
WELLNESS AT WORK
PASSING THE BATON
FACE TO FACE WITH WWA’S ANDY SNAPES AND JAMES BECKLY
01326 312707 stmichaelsresort.com
Feel good again
ON THE COVER WWA’S ANDY SNAPES AND JAMES BECKLY – SEE PAGE 8
BY EDITOR NICK EYRIEY
Secrets to your success There are so many different concerns and ingredients involved in running a successful business. And in this month’s issue of Business Cornwall, we focus on two of them – namely finance & funding, and health & wellbeing. Get either of them wrong and your business’ chance of success will be significantly impaired, irrespective of the quality of your service or product.
EDITORIAL DIRECTOR Nick Eyriey nick@businesscornwall.co.uk
In fact, the two of them are inter-related and we ask the question – if you look after your people, do the pounds look after themselves?
PUBLISHER Toni Eyriey toni@businesscornwall.co.uk ACCOUNT MANAGER Caroline Carter caroline@businesscornwall.co.uk BUSINESS DEVELOPMENT MANAGER Rachel Koerner rachel@businesscornwall.co.uk DESIGN Ade Taylor design@businesscornwall.co.uk PRINT Printed by Stephens and George BUSINESS CORNWALL is published 10 times a year by:
Of course, that can be too simplistic, but the importance of wellbeing in the workplace should not be underestimated. And what is not too simplistic to say, any business’ most important asset is their staff. And on that theme, the Cornwall Chamber of Commerce has just begun its annual search for the Duchy’s brightest young talent – Cornwall’s 30 under 30. This year it is switching things up a bit by shortlisting 80 nominees and then announcing the 30 winners at a glitzy awards ceremony. Profiles of all the winners will also feature in a comprehensive and glossy review in this magazine. So, if you (or someone you know) is under the age of 30 on March 18, living and working in Cornwall and doing some fantastic things, then what are you waiting for?
Tonick Business Publishing Pool Innovation Centre Trevenson Road, Redruth TR15 3PL
Head over to www.cornwallchamber.co.uk/ 30-under-30 for all the details. Deadline for nominations is Friday February 23.
Tel: 01209 718688
Good luck one and all!
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Registered under the Data Protection Act. All rights reserved No part of this publication may be reproduced, copied, stored in an electronic retrieval system or transmitted without the written permission of the publisher. Stringent efforts have been made by Business Cornwall magazine to ensure accuracy. However, due principally to the fact that data cannot always be verified, it is possible that some errors or omissions may occur. Business Cornwall magazine can not accept responsibility for such errors or omissions. Business Cornwall magazine accepts no responsibility for comments made by interviewees that may offend.
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INCOMING
THE CONVERSATION www.bestplacestoworkincornwall.com
w
According to research, 77% of business leaders regularly lose sleep in their role and over a third find themselves working beyond normal working hours. What steps do you take to avoid burnout?
The big question w
Jointheconversation /business-cornwall /businesscornwall @biz_cornwall /businesscornwall
businesscornwall.co.uk
HYLTON ESPEY
Culture Restaurant As a new business owner in the hospitality sector with over 20 years working in the restaurant industry, my schedule is more balanced than ever. I control my work hours and structure my week so that there is a great work life balance. Our business model is ingredient led and
4 | BUSINESS CORNWALL
this controls the experience of our guests. By removing the choice, we can prepare for the exact amount of covers, reducing food waste, food cost and increasing creativity with what is available. In my opinion, menus have become way too large in the last couple of years which immediately impacts the freshness, quality and over works all the kitchen staff. This is definitely a factor in the high turnover
of staff in the hospitality industry and a reason why it is becoming harder to attract youngsters into the profession. If I lose any sleep, it is because I am excited about a farm visit or adventure before my work day starts. We are sustainable in our approach to how a restaurant is run, that includes the menu, daily practices and a new approach to what work in hospitality looks like.
THE CONVERSATION www.bestplacestoworkincornwall.com
ADAM PEARSON
Newquay Hypnotherapy I think the first step to avoid burnout is to take it seriously. It’s a thing. And it’s much easier to avoid than to recover from. It’s also not an on/off. There may be signs, in which case - take note. There are lots of things I do. Prioritise sleep - quantity and quality. It is possible to sleep and be successful! We actually get more done when we sleep - as most people actually know. It is possible to lack sleep and succeed - but not for long. Something will be sacrificed - often health. Take it seriously, and then enjoy yourself. Whether work or play, doing things you really enjoy is the healthy and sustainable option for a successful life.
REBECCA LOTO
Cornwall Innovation Owning a business can be stressful, and if you are working in a job as well, even more so! My experience of burn out was when I was working full time, as well as project managing a back-to-brick development of a three-bed house into a high quality co-living home (HMO) for five tenants. During the six months of the refurbishment, I surfed three times and went to the gym about the same. For someone who normally exercised 5-6 days per week, this was not good! All of the business owners I have mentored are ambitious and have numerous ideas for growth and other business ventures. When you love what you do, it’s hard to switch off. To avoid burnout, I know exercise is vital for me. I now use my business strategy and mentor mindset when planning exercise; I make a plan and have accountability. By booking a gym class or a surf session (both with strict cancellation policies), I am held accountable to turn up, rather than leaving it until tomorrow. With these sessions scheduled into my calendar, like a non-negotiable business meeting, I get to exercise without the guilty feeling of believing I should be working on something for the businesses I run.
SOPHIE GRATTON Girls in Cornwall
To stay clear of burnout I am very intentional with the commitments that I
take on, my focus is on what truly matters to the incredible community of women I serve, whilst also protecting my energy to ensure I can work to the best of my ability. Additionally, I’ve found that setting boundaries, like turning off my social media notifications, plays a crucial role in preserving my mental well-being and preventing burnout. Spending quality time with my partner, friends and family is non-negotiable for me, this is what brings me energy. Putting activities in the calendar with the people that matter to me helps me maintain a healthy balance and gives me something to look forward to. For me planning work life is just as important as planning my social life!
LAURA WHYTE Whyfield
As a business owner, it is so easy to slip into a routine of late night or weekend working and feeling that you need to be available all of the time. Leading a team or running a business is hard work, can be full on, and it isn’t often easy to switch off at the end of the day. My advice would be to ringfence and safeguard small amounts of time for yourself that is non-negotiable; whether this is a morning swim or a Saturday night in front of the tv with the family, make this time protected and then when you do have to put in the extra hours, you know some downtime isn’t far away.
KATE DORAN Flotsam Flo
I think the main thing to not lose sleep is to love what you do! I absolutely adore experimenting with upcycling broken wetsuits and inflatables. Every item is different and so I can be creative with all of these. It is very hard to manage your time, especially when you’re ‘in the zone’ and just want to be making. To make sure I have some time out, I have horses so need to check them daily and it gives me some fresh air as well. I wouldn’t recommend everyone gets horses, but I think it’s important to have other hobbies and interests to make sure you take some time out. For me, that’s drawing, riding my bike or horse riding with friends. That is one thing I’ve learnt from my brain
INCOMING
haemorrhage four years ago, (which can make me tired) is that your time and health are SO important and to try something new because tomorrow is never promised.
NICOLA O’DONNELL
National Lobster Hatchery There are always going to be times where work is harder to switch off from, however especially in a leadership position it is vital that you keep motivated and energised as the team feed off from you. No one is their most effective when they are tired and stressed, so one non-negotiable for me is no work emails on my mobile. This doesn’t mean I’m not contactable, far from it, but endless emails and their notifications make it easier to switch off once I am finished for the day. Now working from home has become the new ‘normal’, it is something that I really struggle with, especially separating work and home. Changing your environment to somewhere new like one of the great local cafes and tourist attractions nearby, not only helps I also always find the change gives me a dose of inspiration and helps me switch off once I am finally at home.
LAURA JESSICA WALKER Burnout coach
Self-care is the cornerstone of my philosophy; Keeping my cup full. With a full cup, we can handle almost anything life throws our way. This understanding, born from my own experience as a CEO who faced burnout, now informs my approach to coaching women leaders. I’ve realised the power of small, consistent practices in preventing burnout. Embracing spirituality was a key turning point in my recovery, with meditation and wild swimming becoming integral to my wellness. This personal transformation is central to my coaching. I encourage my clients, inspiring women leaders, to establish ‘daily nonnegotiables’ – simple yet impactful actions that anchor their day. For instance, one client, overwhelmed by her numerous responsibilities, started with minimal steps: one mindful breath, five minutes of mindfulness at lunch, and an uplifting song during her commute. These practices, though initially small, helped her reconnect with herself amidst a demanding schedule. By building and deepening these habits over time, we create a robust foundation for enduring change.
BUSINESS CORNWALL | 5
CORNWALL
BUSINESS NEWS
NEWS IN BRIEF Bude-based green-tech business, Cleaner Seas Group, has been presented with a leading international award in Australia. Pitted against 200 businesses from 54 countries, Cleaner Seas scooped the Ocean Impact Pitchfest 2023 Award, for its Indi home microfibre washing machine filter. ______________________________________ The Falmouth Business Improvement District (BID) has secured a fourth term, following a resounding 90% ‘yes’ endorsement by the local business community. The fourth, five-year term will start on April 1. ______________________________________ Boardmasters has set out its growth plans following the submission of a new licensing application to Cornwall Council. Under the new application, the festival’s capacity will increase from 53,000 to 58,000 this year and up to 65,000 in 2025. At Fistral Beach, where the Boardmasters surf competition takes place, capacity will remain at 22,000. Boardmasters 2024 will take place from August 7-11. ______________________________________ Work has begun installing a canopy of 543 solar panels that will cover the entire New County Hall visitors’ carpark and significantly reduce running costs for the building. The 230-kilowatt project will power a third of the energy needs of Cornwall Council’s headquarters in Truro and decrease its carbon footprint. ______________________________________ A Cornish business leading the way in environmentally-friendly cork products has received further funding from the Cornwall and Isles of Scilly Investment Fund (CIOSIF), to support its continued growth. The £100k loan to I for Design, which creates a range of natural homeware products under its LIGA brand, will support expansion into the US and across Europe.
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Plans to breathe new life into Truro have taken a step forward following the official launch of the new company which will deliver the Truro Town Deal-funded project. Led by Truro City Council, the New Life for City Buildings project will help to revitalise the city centre by refurbishing, renovating and repurposing empty spaces above shops and on the edge of the city. It will be delivered by the Truro Regeneration Company CIC (TRC) which will be responsible for assessing applications and distributing grants to owners and landlords looking to transform the upper floors of their
CHANGES AT CROWDFUNDER Crowdfunder has announced the appointment of Dawn Bébe and Simon Deverell as joint CEOs. Co-founders Bébe and Deverell will be stepping up from respective roles of chief operating officer and chief creative officer, while Rob Love, co-founder and former CEO, will relinquish his executive duties but continue to be a shareholder. The move follows a ten-year period of growth. Over £350 million has been raised on the platform for thousands of projects including over £1 million for Oxfam with a Glastonbury prize draw last year. “I’m delighted to co-lead the Crowdfunder
ONS CORNISH FINDINGS The Office on National Statistics (ONS) has published the findings of its Census 2021, exploring the characteristics of people who identified as Cornish. In the census, people were able to identify as Cornish through write-in response options under the ethnic group, national 6 | BUSINESS CORNWALL
TRURO TLC FROM TRC buildings to create new high quality living and working space in the city centre. Its chair, Rupert Hume-Kendall, said: “The aim of the programme is to create sustainable and eco-friendly residential and office accommodation and inject vibrancy into Truro by refurbishing and repurposing dilapidated or empty properties.”
team with Simon,” said Bébe. “Crowdfunder has done so much to tackle society’s challenges by making ideas happen. I look forward to working with even more project owners and leading brands to create even more impact in the years ahead. “I’d also like to thank Rob for the part he played in creating the idea that has helped change the world.” Love, who launched Crowdfunder in 2012 with Bébe and Deverell, expressed his confidence in the new direction. “It’s time for a change of leadership and the opportunity to support Crowdfunder from a different angle,” he said. “I’d like to thank the Crowdfunder team who have been brilliant to work with, and now, as a co-founder and key shareholder. I look forward to finding new ways to help them deliver more ideas that might just change the world.”
identity and main language questions.
According to the findings, the largest concentrations of people who identified as Cornish tended to live further west in Cornwall. For instance, in Penzance North almost 1 in 4 people identified as Cornish.
117,350 people identified as Cornish through the national identity, main language or ethnic group questions. 88% of people who identified as Cornish were located in Cornwall - 18.1% of Cornwall’s population.
People who identified as Cornish had an older age profile - those located within Cornwall had a median age of 49 and those located outside Cornwall had a median age of 46, compared with a median age of 40 for the population of England and Wales.
BUSINESS NEWS
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SEAFOOD WORTH £174M The importance to the economy of Cornwall’s seafood sector has been revealed in a new report. New figures have revealed Cornwall is home to more seafood restaurants than anywhere else in the country outside of London. According to an independent research report, 16% of Cornwall’s table-service restaurants (not including fish and chip shops) specialise in seafood. The report was commissioned by the Cornish Fish Producers Organisation to
Drones have been flying over Falmouth Harbour as part of technical trials being carried out by the Open Skies Cornwall (OSC) consortia. The trials are part of plans to test shipto-shore flights and prepare Falmouth Harbour’s ground infrastructure, flying procedures and airspace for drone activity to support maritime use cases identified by the harbour and local stakeholders. OSC is a UK Research and Innovation (UKRI) Future Flight Challenge competition winner working to unlock low-level airspace to enable lifeline and
determine the true value of seafood to Cornwall and the Isles of Scilly. Overall, the sector contributes £174 million to the county’s total gross value added. Chris Ranford, CEO of the Cornish Fish Producers Organisation, said: “The results of this report are outstanding. We always knew the importance of fishing to Cornwall, but this provides the socio-economic evidence to back it up, inform decisionmaking and attract strategic investment into the industry.” Around 8,000 people in Cornwall work in seafood, according to the report. That means for every Cornish fisherman at sea there are 15 more jobs on shore – five of those are also linked to tourism.
DRONES OVER FALMOUTH commodity deliveries via drone. Miles Carden, CEO at Falmouth Harbour, said: “Testing the possibility of drone deliveries to and from vessels is an incredibly exciting proposition for Falmouth Harbour. Whether medical supplies or deliveries, one can imagine the utility of commercial Ship-to-Shore drone operations.”
CORNWALL
£4.7M BOOST FOR MINING PROJECTS Ambitions to make Cornwall a worldclass region for tech metal mining have received a boost with a £4.7 million investment from the Cornwall and Isles of Scilly Good Growth Programme. The strategic investment will accelerate Cornwall’s goal to be a major environmentally sustainable producer of critical minerals such as lithium, tin and tungsten, unlocking potentially thousands of jobs. The Government has identified Cornwall’s resources as nationally important to the UK’s future green growth and for a raft of industries, from car making to electronics and defence. Research shows that Cornwall alone could meet more than half the UK’s 2030 demand for lithium, which is an essential part of the electric vehicle battery supply chain. The investment will support three miningrelated projects - a critical minerals processing and testing equipment hub, which is a collaboration between the Camborne School of Mines and Cornwall-based mineral processing company Grinding Solutions Limited; a geo-resources cluster development body that can co-ordinate the sustainable growth of the sector led by the University of Exeter; and the planned reopening of South Crofty tin mine, Cornwall’s last working tin mine which closed in 1998. The investment has been welcomed by Cornish Lithium founder and CEO, Jeremy Wrathall, who commented: “We congratulate our friends and partners at Camborne School of Mines, the University of Exeter, Grinding Solutions Limited and Cornish Metals who will benefit directly from this latest tranche of government funding and look forward to collectively achieving a new era for mineral extraction in Cornwall and a Net Zero future.” BUSINESS CORNWALL | 7
CEO
INTERVIEW
Andy
&
Snapes
8 | BUSINESS CORNWALL
CEO
INTERVIEW
There has been a changing of the guard at construction consultancy Ward Williams Associates (WWA). Following a two-year transitionary period, founding partner Andy Snapes has taken a more ambassadorial role of chairman and handed the senior partner baton over to James Beckly. Andy looks back at an amazing 43-year career with WWA, and along with James, reflects on the business’ burgeoning success and future opportunities.
&
James
Beckly BUSINESS CORNWALL | 9
CEO
INTERVIEW More than 40 years with the same business, that is some achievement. When you started, could you have imagined you’d still be there over 40 years later?
former businesses to become Ward Williams Holdings, which happened in 1989. So, that’s the business that I’m a founding partner of, but I joined one of the previous businesses nine years before that.
Andy Snapes: I always maintain it’s because I lacked ambition! No, I definitely did not think I’d be here for more than 40 years and I certainly couldn’t have imagined what the business would become. It’s quite a complex story in terms of the origins of the business, because it was formed out of two
And when it started it was just based in Truro obviously, how many were there of you? There was six of us at that time and we had a sister practice, which was Ward Williams Partnership, based in Tavistock. And then the two businesses came together in 1989. And that was the start of Ward Williams Holdings, which was myself, Roland Tiplady and Paul Williams. And the business steadily grew from there to offices around the country. Has growth been organic or through acquisition? It has pretty much been organic growth. We’ve not merged with anybody, we’ve never taken anybody over. Martin Ayliffe bought Baseline into the fold when he became a partner further down the line. But it has always been around organic growth, and looking at the next territory, and bringing the next right person into the business to be able to further the ambitions. And James, you’ve been with Ward Williams since 2017? James Beckly: I actually went overseas and worked for a developer for about ten years. But I worked with Andy previously and I think that was a big part of the connection that we made. So, I knew the old Ward Williams and was quite involved in the old Ward Williams business and I know a lot of the founding partners quite well. I think that was an important ingredient as well when I joined.
10 | BUSINESS CORNWALL
CEO It was first announced that James would become senior partner back in December 2021. Has this long transitionary period been important? JB: I’ve been earning my spurs and learning from my learned colleague! But it was a very important period for a number of reasons. Number one was where Ward Williams has come from, with all the history. It’s quite important that whoever was taking over the reins understood there was nothing broken. The danger is you see how quickly CEOs can come in with a new set of ideas, rip the rulebook up and then they’re gone in two years. And actually, because of our custodianship model, what both Andy and I talked about was that we needed to make sure that this was a very soft transition, where I had time to really understand the heartbeat of our business and recognise that although we do things differently in some instances and some things will evolve and change, it doesn’t need to happen overnight. And I think by having had Andy at my right hand over the past three years, it’s meant that some of those decisions that I might have taken if I was a CEO elsewhere, I’ve had that natural, critical friend there to say “I’m not sure we need to do that quite so quickly. Let us consider how we could do it.” And I think that’s been invaluable. And of course, Andy has not gone away. As chairman, he’s still very much here.
model was becoming increasingly difficult. We needed to take the business to a bit of a different operating model, so working with our accountants we came up with the LLP model where we have equity partners who all have an equal share in the business. So now we’ve got a really interesting model where no goodwill changes hands. When one of us leaves, you walk away with the loan that you’ve put into the business. And that’s it. We can now invite those who we think are the right next person to be a partner of Ward Williams. And it’s not just governed about those who might have a large chequebook.
In short, I’m an absolute introvert, and James is an absolute extrovert!
AS: I’m still here to offer my support and to really continue to embed that custodianship. As a business, we went through quite a fundamental change in 2016. We used to be a limited company, but we recognised that succession planning in that corporate
And how does it feel now that you’ve handed the baton over, so to speak? More than 40 years is a long time.
It’s only now starting to dawn, because it’s all still quite recent. The change happened at the end of November and we obviously had a brief hiatus with Christmas and now we’re back at it. But yes, I’ve had time to mull on it! And James and I had a ceremonial handing over of the bucket and shovel as we called it, in front of the whole team back in October. But it’s nice not to have that day-to-day pressure now. That, I would say, is the hardest part to come to terms with. And I think now James is picking up that cudgel and realising there are those issues that come up that you can’t sidestep, you just have to deal with them. How do the two of you differ in management and leadership styles? AS: That’s a good question. In short, I’m an absolute introvert, and James is an absolute extrovert! James is very upfront and
INTERVIEW
I suppose, historically, I perhaps kept more of my own counsel. JB: I think we are very different, but we mustn’t forget that there’s a strong management board behind all this. And all of us have been with the business a long time. And as you know, Andy isn’t stepping away completely and will be there to certainly give me that counsel and that calmness. Ten years ago, Andy had to be everything, but actually that’s not quite so important now. We’ve strengthened the support service side of the business and now we’ve also got HR and accountancy experts on board, and I think with that kind of support, it’s enabled us to look at things in a slightly different way. I can now look more at the strategy, in terms of how we evolve the business. Where’s the industry going? What’s going to be really important? How are our customers and our clients responding? How do we need to innovate? And that’s where I now spend a lot of my time.
The business started in Truro but has expanded greatly. Where do you have offices now? London, Manchester, Gloucester, Winchester, Exeter, Plymouth and Truro. We’ve been working in Nice in France and we have got projects in Ukraine as well, in Kyiv. We have about 160 people now in the team.
BUSINESS CORNWALL | 11
CEO
INTERVIEW
Apart from its size obviously, how has the business changed over the past 43 years? AS: The obvious things with the passage of time, the technology we use now you could never have imagined 40 odd years ago. It was the stuff of science fiction. And I guess the biggest change is probably in the services we deliver, the way that they’ve evolved, and the inputs that clients now require, and the sophistication of the information that we’re required to produce now as professionals. The industry has certainly moved away from aspects of its traditional routes and I think James would agree that that’s not always been for the best. And growing nationally rather than being just Truro, that must have presented its own challenges? When we’ve moved to a different territory, it’s always been first and foremost about trying to recruit the right person to come in and lead that new part of the business. I’ve always talked about the businesses being an incomplete jigsaw puzzle. And we’re always looking to add that next piece which is going to make the picture bigger and better. It wasn’t that long ago you became a part of the growing B Corp movement. What was the thinking behind that? JB: This is something Andy was passionate about. I remember Andy coming to a board meeting saying this is something we really need to look at. There are many facets to it. As a group of partners, we need to do the right thing. Our communities and our environment are all under pressure and business can have a positive impact. And it’s not a dirty word to talk about profit either. Profit actually enables us to do the good things that we
12 | BUSINESS CORNWALL
want to do. And one of Andy’s arguments was that our industry is going to change, the property world is going to change and banks are very quickly not going to be lending for projects which don’t have very strong ESG (Environmental, Social, Governance) credentials. And we’re seeing that now, people are coming to us because of what we are and what we stand for. We need to be purchasing in an ethical manner to ensure we get the funding and I think that’s only going to increase.
unquestionably; we’re a sizable fish in this pond. But when you go nationally, no, we’re not. There are still some very big players out there, but we are starting to eat into those markets. But you’ve got those ‘super consultancies’, who are between 3,000 and 20,000-strong around the world. And we regularly compete and win against those businesses, but we wouldn’t pretend that we are one of those and we don’t want to be.
Attracting good quality people is hard and becoming a B Corp has definitely helped
You were one of the first chartered surveyors in the world to become a B Corp. Are increasing numbers in your industry now following suit?
AS: Architects, engineers, we’re seeing real growth in that. In the surveying world, still surprisingly few. It probably doesn’t fit the model of a lot of the super consultancies. As a B Corp, you have this obligation to amend your articles of association or your members agreement and that becomes much tougher when you’re a 3 or 4,000 strong business with overseas shareholders. So, I think it does suit smaller, more nimble businesses. JB: Construction has generally got a recruitment crisis. Attracting good quality people is hard and becoming a B Corp has definitely helped with the next gen becoming really interested, buying into Ward Williams. 160 people, offices across the country, annual turnover for the last financial year of £11 million. Is WWA seen as a big company in the industry now? AS: In the south west and west of Bristol,
JB: We’re punching reasonably well and I think we punch well above that at times. Take health care, for example, certainly on the south coast and south west, we’re working in all the major hospitals, and we’re seen as one of the major suppliers.
Looking back over your last 40 years, what projects have you been most proud of? AS: Goodness me, there have been so many. In terms of most spectacular, you know, I was really privileged to work with Pendennis on the Lord’s Media Centre. That project was three years of my life. A great project to be involved with, absolutely unique. Nobody had ever built anything like it before. We’ve worked in the Middle East. Going back to the early 2000s, we worked on some of the biggest towers in Saudi Arabia, working with some of the best architects and engineers in the world, which was a great experience. And then down to some of the smaller community projects that we’ve always done have been fantastic. Things like Nancledra Community Hall which we did probably 20, 25 years ago now and things like that. Wendron Football Club and their club house which at the time got the largest grant ever from the Football Foundation, £650k. There has been
CEO
INTERVIEW
just a huge variety of different projects and different challenges over my lifetime here. Heartlands was a lot of fun and in terms of eventually getting it over the line, that was not without its challenges. Such a shame what is happening there now. And now you’re taking a back step, what are you going to miss most? I think inevitably it’s the people, whether it’s close colleagues within the team at Ward Williams or the clients with whom you build some great client relationships with. But, as we’ve said, I’m not going anywhere immediately, I’m still sticking around for a couple of years, and I daresay I might still do the odd bit beyond that. Wait and see. What legacy do you think you have left the industry and the company? AS: I think there’s a great business that is well set. From a client’s perspective, they know that when they come to Ward Williams, they get product ownership. They don’t just get people who walk through the door, earn their money and get out as quickly as they can. We like to add value to everything that we do. That’s always been part of the ethos and I know will always be part of the ethos going forward under James and others after him. You must be very proud of your time? Yes. But it’s always difficult to take time to look back and say well that was good, or that was fun. But for me it’s always been about what’s next, what are we looking forward to dealing with next time? And personally, what will you have more time to do now? I’ll probably spend a bit more time in the water, I’m really passionate about surfing.
For my sins I’m chairman of Perranwell Football Club as well and I’m non exec on a couple of other business boards. I sit on the Chamber of Commerce and Cornwall Environmental Consultants boards. So, I’ll keep myself out of mischief! I’m also a passionate campaigner around ocean health and keeping sewage out of the sea, so that’s something that I will continue to do as well.
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Even though your business may be running smoothly with plenty of miles still in the tank, it is never too early to start thinking about your exit strategy.
Start with the
end in mind?
For some entrepreneurs embarking on their business journey, the dream destination is clear from the get-go.
Whether it is a business passed down through generations that has pivoted and diversified along the way, or a business based on an innovative idea with a plan to sell on at the right time, exit strategies are often part of the growth strategy. Successful businesses can literally outlive their founders too, so for business leaders considering how their businesses will survive
and succeed beyond their tenure, it is never too early to think about exit strategies.
Building a business to sell, winding it down to make a reputable exit, passing it on to family or employees, or keeping your options open - recognising the right option and right time is critical to a successful exit and financial security for those involved. • WHY: Why an exit strategy is being considered in the first place is directly linked to the needs and wants of the individuals involved – needs and wants which will likely be
integral to determining the best option to take.
For some it may be about a lifestyle choice or a change in personal or financial circumstances, for others it is about legacy and passing a healthy business down a family. • WHO: Who is involved and implicated? When a business leader exits are the remaining team members able and willing to keep hold of the reigns? Consideration must extend beyond the business leaders and their employees too; to key partners and stakeholders, supply chain and customers.
FOUR THINGS CORNISH BUSINESSES NEED TO WATCH OUT FOR IN 2024 Sam Perkin is a member of association of Taxation Technicians Steering Group and a lecturer in business planning and management at Cornwall Business School, Falmouth University. 14 | BUSINESS CORNWALL
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• WHAT: Taking into account past, present and prospected activity, cashflow, profitability, assets (from IP to property, investments to vehicles); what makes up the value of the business? • WHERE: Opportunities for local funding, international trade activity or changes in tax laws; the location of a business and its activities will have implications on its valuation, growth and taxation.
of the opportunity he saw back in 2019 and the process of investing in and taking over the business. “Having successfully passed the baton on several businesses, the challenge of exporting previous experience and knowledge in another albeit entirely different sector was too much to resist. The synergies with previous turnarounds were apparent – an underperforming business; SME manufacturing, a willing workforce seeking direction; untapped potential and a niche opportunity.
It is never too early to think about exit strategies
• WHEN: Timing is everything whatever your strategy. If looking to sell a business, doing so at a time of increased profitability and with an awareness of impending tax implications is paramount. Choosing employee ownership? It may be that seasonality of business activity or recruitment plans play into choosing the timing. And, of course… • HOW: Whilst often detrimental to business relationships, reputation and the option to hold future management roles, liquidation or bankruptcy are the common exits for owners of failing businesses. For those businesses with growth potential, there are other opportunities... SELLING TO A PARTNER OR INVESTOR The Natural Fibre Company, a jewel in Cornwall’s textiles and manufacturing crown, is the award-winning Launcestonbased woolen mill. In 2019, Colin Spencer Halsey took over the business and led a business recovery and turnaround. Applying his significant manufacturing, investor and change management experience, Colin talks
NATIONAL INSURANCE (NI / NICS): The “employee main rate” drops this year to 10%, meaning employers hold back less of their employees’ wages to send to HMRC. This gives an opportunity to some employers to potentially award an annual pay rise, reflecting well on you as an employer. Cuts in NI for the self-employed do not come into effect until April when the main rate drops from 9% to 8%. In addition, Class 2 (the small weekly contribution to allow you to draw state pension) has been withdrawn, saving you £3.45 per week compared to 2023-2024. However, since this is still due in 23-24 and is payable by 31 January 25, many business owners will
“The implications of investing in a business are somewhat different in the case of distressed businesses, where time to act is of the essence and therefore there is a higher degree of risk and intuition (not always successful I might add!) However, there is the fundamental of undertaking due diligence whatever the circumstances.
“Whilst my role is to provide a strategic vision, from my experience the key is to surround yourself with people who know more than you do and then deliver a change agenda through them. I like to build a team that embraces the ethos of ‘leading change without the fear of failure’ and exploring different ways of doing business. As a result, we have completely changed the culture; it’s no longer owner led, an energized and knowledgeable team who run the day-to-day business; robust financial controls leading to a much-improved credit record. The introduction of an R & D capability with the aim of creating a ‘wool development house’ combining raw fibre with alternative materials to
not instantly feel this drop in the same way employees do. MINIMUM WAGE: From 1 April, this will increase by 9.8% to £11.44 per hour for workers aged 21+. This will influence the wages you pay staff not just minimum wage earners, but those above who will want to keep their salary above others as they are in this year. Many employees will be expecting a pay rise in the region of 10% - a cost many businesses will struggle to budget for.
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provide a commercial solution. These changes are underpinned with awards, peer recognition and a raised company profile that reaches well beyond Cornwall. “As I enter the realms of ‘grey hairs and wisdom’ thoughts move towards passing the baton and for someone else to build on the platform created and uphold the legacy. The focus of an exit strategy is to ‘groom the business’ for sale or future investment ensuring the housekeeping is in order and the framework including a vendor driven due diligence which addresses any potential issues whilst adding value to the proposition.”
COLIN SPENCER HALSEY (THE NATURAL FIBRE COMPANY)
Income) is forecast to drop to 3.5%, lower than before the pandemic times, so your customers may “feel this squeeze” even more... LEVEL 2 “DEVOLUTION” TO CORNWALL: Cornwall has gained nonmayoral devolution. With adult education being devolved to Cornwall, there is an added incentive for businesses and skills providers to work together to better determine the skills needed in the future here in Cornwall.
CUSTOMER SPENDING: You need to plan carefully for the following year, as inflation is likely to remain at about 4% and the RHDI (Real Household Disposable
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DANIEL RICHES (THE PELOTON)
EMPLOYEE OWNERSHIP Introduced by the UK Government in 2014, the employee ownership trust (EOT) is a relatively new option, enabling a company’s employees to take ownership. EOTs are set up by existing owners of a company and often catalysed by a business owner’s plan to exit. Transparency, trust and inclusion have been paramount for the Best Places to Work in Cornwall winner and Penryn-based accountancy firm, The Peloton, in its journey to becoming employee owned.
The Peloton team have gone on to support and advise clients such as Meneage Dental, Sanders Studios and Kudos Records in becoming employee owned.
family business from one generation to the next, Steve says: “From a young age kids need to understand and appreciate the skills and values needed to run a successful small family business and work their way up from the bottom, learning all the nuances involved at every level to be a respected and effective manager in the future.”
SUCCESSION
BUY OUT/ACQUISITION:
Often as businesses evolve, they diversify and Cornwall has seen numerous farms and estates take new directions over recent decades, and often as one generation makes way for the next.
In 2022, TouchByte, a Falmouth-based firm specialising in face recognition technology, was acquired by SALTO Systems, a global leader in keyless access control. Jeremy Sneller, Touchbyte’s MD, founded the company in 2015 further to a career path that focused on managing sales teams selling face recognition into border control. When it was time for a change, he moved down to Cornwall and identified the buzzing business community in the county. He knew he wanted to get involved.
The Lostwithiel-based Colwith Farm Distillery continues to expand its facilities, product range and trophy cupboard since the Dustow family diversified from farming to vodka production in 2010. Cornwall’s first plough to bottle distillery is based upon five generations of farming at the site, with three generations of the Dustow family currently involved in the businesses on site. Whilst Chris, his father Mike and grandfather Clive continue to grow the potato farming operations, Chris’s brother Steve has developed the distillery, complete with a visitor centre and tasting bar. Joining the family business, for Steve it was a case of looking at what he could draw from the existing business (ie expertise, knowledge and resource), and how he could marry this with any potential opportunities out there that excited him. He then considered his own skillset and what he would need to turn his ideas from concept into reality. With a business degree, management experience from working in the construction industry, but no real distilling knowledge, Steve had to work hard to gain this through courses, reading, and experiences in other businesses.
An incredible option well worth considering
Commitment to clear organisational values and goals facilitated the transition for the team. Discussing the direct experience of his team and the benefits for other business leaders considering the same strategy, Daniel Riches, director of The Peloton says:
“EOTs represent a fantastic opportunity for business owners looking to retire but reluctant to sell using traditional means. By empowering our teams to carry on the legacy of our owner Mike, he received full market value without Capital Gains Tax to pay and allowed our staff the opportunity to become business owners. EOT’s won’t be for everybody but for the right owner and right team it can be an incredible option well worth considering.”
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The family is passionate about the heritage of their business and the value which harnesses over a century of expertise, experience and passion, and Steve and Chris hope that Colwith continues to grow with the family for generations to come. When considering the journey of passing a
“I saw that the technology, face recognition access control, is a product that generates a huge amount of commercial value, as well as its use as a government tool. My knowledge
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of the technology shouldn’t go to waste. I like to think of face as a key; instead of carrying keycards, remembering a pin or using your phone to access a space, your face is an efficient, always charged, and never-forgotten alternative.”
them into the future of access control: face recognition. While we knew we couldn’t compete with a market leader on this scale, we did know that our product development and learnings over the previous five years would be of value to SALTO, to enable them to deliver a market-ready solution quickly, and with fewer industrialisation costs, too. We approached the CTIO of SALTO via LinkedIn, began to build a relationship, and the rest is history.
Having an eye on the exit does not mean having less commitment
This adaptation of usecase of the tech led to the creation of TouchByte. This pivot, in conjunction with Apple releasing iPhones with FaceID in 2017, meant that face recognition technology was both accessible, and understood by the everyday consumer. “We’ve had our ups and downs; Covid, and GDPR regulations changing, to name a few, but I’ve always believed that face is the future,” he says.
Talking about his business strategy and decision to sell, Jeremy says: “The right buyer or partner for your business may initially be perceived as your competitor. They can come out of left field. SALTO Systems were searching for a product to springboard
“The acquisition process couldn’t have been achieved without the support of our legal teams, Bishop Fleming and Murrell Associates, who transformed a daunting and complex mission into a far simpler process, enabling us to complete as quickly as possible.
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The exit strategy that is right for you and your business will of course depend on numerous factors – not least the personal ones. Having an eye on the exit does not mean having less commitment, rather having a plan. Whilst nothing is as constant as change and the best laid business plans will invariably need to sustain some curveballs along the way - and in some situations change direction altogether, keeping the end in mind is clearly critical for any business leader.
“My advice to any founder ready to exit is to assemble a legal team who are acting as a critical friend. Finding the right team for you should be your number one priority before engaging in any discussions with a buyer.”
JEREMY SNELLER (TOUCHBYTE)
We are your trusted business advisor on hand to help you revive, refocus, rebuild your business Azets is the largest regional accountancy and business advisory firm to SMEs across the UK. • • • • •
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Trust us to keep you compliant and guide your business through growth and everything that lies ahead. Get in touch with your local Truro trusted business advisor today - 01872 271655 Malcolm Peters Partner malcolm.peters@azets.co.uk Marc Farmer Partner marc.farmer@azets.co.uk
Matt Webb Director of Audit & Assurance matt.webb@azets.co.uk
STEVE DUSTOW (COLWITH FARM DISTILLERY )
azets.co.uk #AzetsSMEChampions
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Navigating the
storm
The current economic climate is hitting some businesses hard. With high interest rates, inflation, the rising cost of energy, and the increase in price of raw materials many businesses are considering ways in which to weather the storm of the cost-of-living crisis. Whilst this can be a distressing time for some, it is prudent to give early consideration to ways in which your business can be protected, and corporate restructuring can be a useful tool to do this.
Financial restructuring can often release capital and streamline a business’s finances to assist with its survival in difficult economic circumstances. This could include debt reduction and consolidation, by way of using any capital to pay off debts or negotiating more favourable terms with creditors. Any surplus assets may be sold to generate capital and, whilst unpleasant, there may be scope for workforce reduction to decrease outgoings.
When we think of corporate restructuring, our minds often go to thoughts of insolvency. However, insolvency should be seen as the final stage and last resort following the failure of other types of restructuring, should these be appropriate and available to you. At Coodes we work closely with a number of experienced insolvency practitioners to support businesses at this final stage.
Whilst Insolvency is generally the last resort, it does not necessarily mean the end of the road for a business.
An extremely effective way to strengthen your business
Mergers, acquisitions, divestments and joint ventures are all commonplace tools used by businesses as part of restructuring efforts. • Mergers and acquisitions involve merging with, or acquiring another business, usually a competitor or complimentary business. Mergers and acquisitions often have a positive impact on the business, increasing its customer base, reducing competition, and ultimately increasing share prices. • Divestments relate to selling off a branch or part of the business to increase capital. • Joint ventures see businesses with aligned goals joining forces to create a new entity utilising joint capital and resources. Joint ventures are often very successful both socially and economically, creating jobs and providing enhanced services to customers and communities.
Entering administration is often the first stage of the insolvency process. Its purpose is to rescue the company, if possible, and to avoid liquidation. A buyer may be available to step in and allow the business to continue to trade under its new structure or agreements reached with creditors to provide the business with time to get back on its feet. Timely restructuring can have a positive impact on a business, potentially increasing profitability; whether by reducing outgoings, capital growth, or extending the remit of the business’ offering to customers. By taking early advice as to maximising profitability, it may be possible to reduce or even eliminate the need for additional
Lucy Vaughan is a Solicitor in the Coodes Commercial Disputes team. If you have an enquiry about how Coodes can help your business please call 01872 246235 or email lucy.vaughan@coodes.co.uk
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With the current economic climate hitting some businesses hard, Lucy Vaughan, a solicitor at Coodes shares how you can ensure your business remains robust and able to weather the cost-of-living crisis. borrowing at a time when interest rates and inflation make doing so less favourable. Restructuring can be daunting, but it is also an extremely effective way to strengthen your business in the face of adversity, and to facilitate future development when the seas are calmer. Advice should be sought at the earliest possible opportunity if you have concerns about the financial viability of the business, to maximise its chances of weathering the current storm and continuing to prosper in the future.
SOUTH WEST INVESTMENT FUND BACKS LOCAL BUSINESS The British Business Bank’s South West Investment Fund supports businesses across the region, with Truro-based children’s book publisher Hungry Tomato among those receiving recent funding. The government-backed fund was launched in July last year to boost the supply of finance to small and medium-sized businesses throughout the South West. In its first six months it completed £2.4 million of debt and equity investments. The South West Investment Fund provides loans from £25k to £2 million, and equity investment up to £5 million, and builds on the success of the British Business Bank’s Cornwall and Isles of Scilly Investment Fund which completed its investment phase at the end of December 2023.
fund manager SWIG Finance, which manages the smaller loans part FINANCE & of the fund across the South West region.
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Led by Sharon and John Twiggs, Hungry Tomato publishes soft learning books for children and currently employs five members of staff, with four new jobs expected to be created over the next 12 months. Sharon says: “This funding will help us to commission authors, artists and editors and buy in new stock. Without it we may have had to change our publication programme which would have slowed the pace of our growth, and it would have prevented us from hiring additional staff.” Jody Tableporter from the British Business Bank, adds: “In its first six months, the South West Investment Fund completed £2.4 million of debt and equity investments across the South West and we look forward to providing further finance to growth-minded businesses in Cornwall and the Isles of Scilly.”
Hungry Tomato has received a £84k loan from the South West Investment Fund via appointed
FOR MORE INFORMATION ABOUT THE SOUTH WEST INVESTMENT FUND AND HOW TO APPLY VISIT SOUTHWESTINVESTMENTFUND.CO.UK
INDEPENDENT FINANCIAL ADVISERS
wwfp.net | 01872 222 422
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A brave new
world?
2024 could be a transformational year in terms of finance and funding for businesses in Cornwall. First up, let us look at grant funding. Many of you will have seen reports of a “funding crisis” amid concerns that our share of the Government’s replacement for EU grants would soon run out. This was about the county’s slice of the UK Shared Prosperity Fund (UKSPF) and the £132 million allocation to take us through to 2025.
We are aware that grant programmes being administered by Cornwall Council were many times oversubscribed. Whilst we wait to see what will be agreed for post 2025, there is still UKSPF funding and business support available via the Cornwall and Isles of Scilly Growth Hub. Outside of UKSPF monies, there remains funding for specific business types and/ or projects through national schemes, primarily those administered by Innovate UK and Defra. On the latter, one of my colleagues was particularly interested by the development of ‘natural capital’ funding initiatives. I am sure we will hear more on this subject as the year progresses, specifically as Cornwall Council has a project looking at this.
Much is changing but there is still funding out there, says Sarah Carbis at PKF Francis Clark. see SWIG Finance secure the contract to deliver small debt (up to £100,000) – and it was great to see the team at SWIG Finance winning recognition, and awards, at the end of 2023. On a national level, anyone who has listened to my colleagues Jeremy Richards and Alison Trant speak will be aware there is a multitude of debt providers out there and it is important to understand the wide range of product offerings. This is something we can assist with, as well as working with businesses on applications.
Optimism among business leaders was on the increase
On the debt side, 2023 marked the closing of the Cornwall & Isles of Scilly Investment Fund (CIOSIF) for new business. I was very pleased to see that the FSE Group, who administered CIOSIF, picked up the contract for the South West Investment Fund (SWIF) in our patch. This should ensure some continuity of service. Staying with the SWIF, I was also pleased to
Equity funding is another area where we could see transformational change, specifically as regards business angels. Colleagues have long felt this was a largely untapped source of business funding and so we have been following with interest the Tech South West Investor Programme. This is another area we expect to hear a lot more about in 2024. Alongside this, the SWIF will be a source of equity, while private equity and venture capital firms also continue to invest.
In summary, I was pleased to read that optimism among business leaders was on the increase at the beginning of 2024. I anticipate that many businesses in Cornwall will be looking to invest in growth and/ or sustainability projects this year and we look forward to working alongside funders and other agencies to help them secure the required funding.
For more information, call 01872 276477 or visit pkf-francisclark.co.uk
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Whether it’s for commercial or residential, borrowing money doesn’t hurt, says Worldwide Financial Planning CEO Peter McGahan, but paying it back can.
Falling cost of
borrowing
When interest rate forecasting for budgeting or business, you don’t want to be forecasting by putting your hand out the window to check. It’s a tad too late. Your hand will just get wet. The last time I wrote about borrowing rates coming down was in June 2008, when inflation was at best contrived. It took until October that year, but it happened. Since then, it’s been a flat liner. In 2018, we told people to stress test mortgages at seven per cent, and that it was a reality. At the beginning of last year, we also believed that higher rates were temporary, and we still believe that.
direction the market believes rates will be going, often in contrast with the Bank of England base rate. You need to know they are different, and often with competing goals. The Bank’s real aim is to slow wage inflation and the market wants to lend money at a profit. Pay awards were running at over three times the Bank’s goal. That could cripple an economy.
In 2018, we told people to stress test mortgages at seven per cent
While I hope everyone picked up those tips at the time, it’s highly unlikely of course. So, what of the borrowing rates for this year? Deep in the Bank of England notes, you can find the forward price yield curves, and in particular there is a section that is regularly updated which shows the costs of borrowing money in the coming years. There is no real point in looking on further than two years from now as too much can happen, but the rates show the cost of borrowing money today for borrowing in one month’s time, out to five years. We have been keeping a close eye on this for the last two years and in particular the
When financial headlines come out after inflation news, the central bank may often play it down in their press releases, but the market often reacts differently, in effect saying “we don’t believe you’. That’s the cat and mouse game which confuses you, the borrower, and that’s what we told readers not to get caught by last year by panicking and fixing into long term borrowing at excessive rates. It’s still the same. Think of the Overnight Index Swap (OIS) as the fixed rate of interest at which banks lend to each other overnight (Overnight Interest Swap). Think of the OIS rate as roughly the wholesale cost of money for the lenders to package their fixed rate deals. They look at that rate, and then put together a package including their costs, profit and calculation of risk for the mortgage. A higher
2024
Loan to Value (LTV) of say a 95 per cent mortgage will cost more than a 50 per cent loan to value. Seemples? Last year we could see where the OIS was going and what rates it was offering at that point for future borrowing. Last year, the expected borrowing rate on the OIS fell by over one per cent, despite the Bank never once lowering rates. Today I can see what the future borrowing costs are for the next two years and it’s all downward. The more the headlines show inflation under control, and the closer we get to the election, the greater the pressure on those downward rates.
INDEPENDENT FINANCIAL ADVISERS
wwfp.net | 01872 222 422 If you have commercial or residential lending and want to know the potential future level of costs, please call us on 01872 222422.
Peter McGahan is the CEO of independent financial adviser, Worldwide Financial Planning. Worldwide Financial Planning is authorised and regulated by the Financial Conduct Authority.
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A decade of
impactful lending
Launceston born and bred, Folk2Folk is the UK’s largest peer to peer lending platform with more than a decade of revolutionising borrowing and lending in the UK under its belt. Folk2Folk emerged as a local beacon of hope after the financial crisis, providing much-needed finance to rural businesses and welcome income for private investors. Now ten years on, co-founder Louis Mathers reflects on the origins and ethos of the company: “There was definitely an antiestablishment element to why Folk2Folk was started,” says Louis. “As partners in a law firm, we had been treated terribly by a large high street bank who wanted us to expand the banking agency we ran, only for them to arbitrarily decide later to terminate all agencies across the country. Simultaneously funding for rural small businesses was drying up and investors were receiving rock-bottom levels of interest. “We suddenly found ourselves with banking premises, loyal staff, and customers with financial needs, but no agency. We decided to start a new business – Folk2Folk - offering local people the chance to earn decent interest while supporting local businesses and offering local businesses fair access to loans. We wanted to
plug this gap while showing we could provide finance, and look after investments locally, much better than the banks.” Within a year, Folk2Folk facilitated £22 million in loans. Early growth propelled the company beyond its Cornish roots, and by early 2015 nearly £50 million of funding had been invested within Cornwall and Devon. The company went on to expand nationally, providing funding for regional small businesses and presenting attractive property-secured investment opportunities for private investors across the UK. Folk2Folk has since grown to become the largest platform for peer-to-peer lending, having facilitated more than £660 million in business loans.
The company’s influence extends far beyond the immediate transactions. In most instances, Folk2Folk’s funding has stimulated job creation, strengthened local supply chains, or enhanced community facilities. In 2017, Folk2Folk coined the term Folkomics™ to describe this socio-economic impact. Louis takes pride in the company’s role in supporting local economies and the resulting tangible impacts. “Our operations have undeniably led to more prosperous rural locales, and it’s not hard to see the impact when speaking with our customers,” he says.
Facilitated more than £660 million in business loans
Staying true to its core ethos of fairness has been a hallmark of Folk2Folk’s journey. “We’ve always operated on the basis of fair exchange,” Louis emphasises, “working to balance the funding needs of borrowers and the risk and reward expectations of investors.” For a company renowned for its friendly personal service, an ongoing challenge has been to ensure the right balance between technology and people. “Folk2Folk is not the type of business you can entirely automate,” Louis explains. “Our customers value their personal interaction with us, and both underwriting and security due diligence require our human expertise.” CHAMPIONING RURAL BUSINESSES Louis explains that most banks and funders still don’t fully understand the needs and values of rural and regional small businesses, making it difficult for them to access the finance they need to start, grow, or diversify. “Regional business are, in effect, discriminated against compared to their urban counterparts,” says Louis, “Folk2Folk aims to level the playing field for these businesses by making funding available to them.”
FUTURE GROWTH As Folk2Folk enters a new phase of mature growth, Louis envisions a future of steady and sensible expansion. The focus remains on staying faithful to its values and purpose, prioritising prudence over rapid scaling. Expressing gratitude to all stakeholders, Louis acknowledges the collective effort that has shaped Folk2Folk’s journey and looks forward to continuing the legacy of positive impact. “I am extremely proud of what we have achieved over the past ten years. By pulling together, we have created a shining example of how sharing capital resources can make a meaningful difference in people’s lives,” he says. From its Cornish beginnings to becoming the UK’s leading peer-to-peer lending platform, Folk2Folk embodies the Cornish traits of innovation, resilience, and drive.
www.folk2folk.com 01566 773296 | enquiries@folk2folk.com
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Happy
With the new tax year almost upon us, RRL tax partner, Steve Maggs, offers this useful checklist of advice.
new (tax) year
It is that time of year again when we reflect and make plans to review and tackle things we have been meaning to for a while. Reviewing your tax and financial position should be included in these plans. This represents an overview of some tax planning points you may wish to consider. • Income splitting – Married couples/civil partners should review their level of taxable income received in the year to make use of tax savings by structuring their affairs to ensure that both use their personal allowances and basic rate tax bands.
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• Watch exposure to stealth taxes – for example the loss of the personal allowances where your taxable income exceeds £100k, or the required repayment of child benefit (the High Income Child Benefit Charge) where you or your partners’ taxable income exceeds £50k. • Pensions – Seek to make use of any unused annual allowances from the previous three years. It is prudent to become a member of a registered scheme (if you are not already). Pensions are incredibly useful for inheritance tax planning purposes. Director/shareholders should strongly consider their company making employer contributions on their behalf
where cash is not required for the working capital of the business and they do not need to extract it as income (not needing the cash in their hands personally). • Use of a company – If you are a higher or additional-rate taxpayer, structuring your business or investments through a limited company can significantly reduce your tax liabilities. • Use your basic-rate income tax thresholds by voting dividends from your personal/family company – this should be considered each tax year, providing the company has available reserves (accumulated
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profits). Even if the company does not have the cash to pay the amount to you, this can be left as a loan to the company. • Consider your cash extraction strategy from your company – the vast majority of limited companies will be required to public their accounting profit with their accounts filed at Companies House, as part of new law. This has prompted director/shareholders to consider their cash extraction strategy, along with the usual considerations as to changes in circumstances and tax efficiency comparison.
delayed, MTD is still coming! The required entry dates are currently: 6 April 2026 if you have an annual business or property income of more than £50k, and 6 April 2027 if you have an annual business or property income of more than £30k. • Inheritance tax – given the freezing of inheritance tax nil-rate bands, and the rates of inflation and property inflation, an increasing number of estates are being subject to inheritance tax at 40%. This is a significant liability for estates to suffer and is a tax that can be adequately mitigated. Consider seeking advice from competent, experienced advisers.
Tax has become increasing more complex
• Watch the further reduction to the capital gains annual exemption – the annual exemption is further reducing to £3k (from the current £6k) from 6 April 2024. This will mean many more capital gains being subject to capital gains tax and needing to be reported to HMRC.
• Capital Allowances – Often an overlooked aspect when investing in new ventures. Consider when purchasing a furnished holiday let or commercial property. • Making Tax Digital (MTD) – Whilst the implementation has been significantly
• Inheritance tax Business Property/ Agricultural Property Relief – A regular review of the availability of these valuable reliefs is essential. This is particularly important over the coming 12 months given that we are expecting significant changes (probably narrowing of the availability of these reliefs) in the coming news under a new government. Those currently benefitting from these reliefs should consider implementing planning to ‘bank’ the benefit now.
FUNDING
• Will – Is your Will up to date? Consider making a Will if you have not made one. • Lasting Powers of Attorney – Certainly just as vital for future assurance. This is to cover your position should you lose cognitive mental capacity during your lifetime – particularly when you have dependants. The new tax year is a prompt to consider these points (and others). Tax has become increasing more complex, and the supply of good, practical, competent tax advice is unfortunately relatively scarce. We are the leading tax specialists in Cornwall and can assist you with any tax advisory needs.
This article was written by Steve Maggs, Tax Partner. Truro 01872 276116 Penzance 01736 339322 post@rrlcornwall.co.uk www.rrlcornwall.co.uk
BUSINESS CORNWALL | 25
FINANCE
& FUNDING
Accountancy Introducing six accountancy firms from the Duchy...
stars
WHYFIELD
Whyfield is a trusted accountancy partner, focused on helping people’s businesses and lives to flourish. It’s people that inspire this modern and forward-thinking firm to do better every day, always striving to help their clients make the most out of every opportunity: empowering success. From caring for their clients’ accounts to ensuring their team feels fulfilled, Whyfield is focused and diligent in approach, dedicated to achieving the outstanding.
THE PELOTON The Peloton is an employee-owned, chartered accountancy firm, helping clients in Cornwall with their accounting and tax affairs. Chartered: Unlike lawyers or doctors, anyone in the UK can call themselves an accountant. The Peloton, however, are Chartered Accountants giving you confidence that your complex accounting/ tax affairs are being handled by a qualified professional.
26 | BUSINESS CORNWALL
01326 660022 thepeloton.co.uk
Employee-Owned: Every person you speak to is a partner, with a direct interest in ensuring clients have the best possible experience. We are the 1st accountant in the UK to have this status. Technology Led: All our team are Xero Certified. From digital bookkeeping to software integrations and making tax digital, The Peloton pride themselves on being at the forefront of accounting technology.
01872 267 267 whyfield.co.uk
Since 2014, Whyfield’s team of highly regarded accounting experts and business advisors have been helping to turn ideas into thriving startups and have been working with well-established businesses to deliver the inspiring plans of directors and shareholders, all while transforming the way they approach their finances.
FINANCE &
HARLAND ACCOUNTANTS Feeling stuck? We can help As experienced business owners ourselves, we understand the daily challenges you face. Finding the time to tackle your numbers is daunting, but it doesn’t have to be that way. Let’s work together to find opportunities, make bold decisions, and propel your business forwards. We’re a friendly bunch of savvy, down-to-earth human beings, with a passion for helping your business thrive.
01726 74573 info@harlandaccountants.co.uk
3 reasons your business needs us: 1 Control We give you confidence and clarity to bring life to your ambitions 2 Support We help you find opportunities and make bold decisions 3 Purpose We believe profit and purpose can be pursued equally.
GRAHAM SMITH CHARTERED ACCOUNTANTS Interested in a proactive approach to accounting, where tax efficiency is always considered?
from complex tax issues to tax planning for the future, as well as the completion of compliance documents.
Graham Smith Chartered Accountants is a growing firm based in Redruth which, via clear communication, provides a professional, timely service along with comprehensible advice.
Quality tax advice is not guaranteed in the county. Graham Smith can provide this ensuring work performed is accurate whilst mitigating tax liabilities.
FUNDING
01209 213281 grahamsmith.co.uk
Being a firm of chartered tax advisers also, it can advise on a vast array of tax matters
GW ACCOUNTANTS We’re a small firm of accountants in Falmouth/Penryn that do things differently.
· Spend more time working on your business success
• We have an open-door policy, so if you have a question, you just need to email/call or pop in.
· Enjoy peace of mind knowing you’ve got the support you need
• VAT/payroll/accountancy – we can take care of any of it.
· Understand changes in legislation
LINGGARD & THOMAS We want to give you the time, the tools and the knowledge to grow, to succeed and to reach your goals. Our mission is to empower your business through a range of accountancy services including
· Feel in control of your finances
• We explain everything in plain English.
Here, we don’t just care about the numbers, we care about people too. This means that you can:
Linggard & Thomas are a chartered accountancy practice based in Newquay; the partnership of two ex-colleagues turned friends, Samantha Linggard and Lucy Thomas. We are a pro-active, forward thinking accountancy practice.
www.gw-accountants.co.uk
· Make the most of your earnings.
01637 801083 linggardandthomas.co.uk
bookkeeping, annual accounts, management accounts, payroll and tax returns. When working with us, you will discover a passionate team who will ensure you have the information required to make better business decisions.
BUSINESS CORNWALL | 27
CORNWALL
WELLBEING
Working toward a
healthy future
Look after the people and the pounds will look after themselves. We examine Cornwall’s culture of workplace wellbeing. A common theme among Cornwall’s business community in 2023 was the importance of being ‘people-led’. And, with Cornwall’s B Corp community flourishing, companies across the Duchy are now all the more transparent about their values and purpose - underpinned by prioritising people and planet. This was echoed in the answers we received to our last issue’s Big Question with regard to resolutions for 2024. Also, ‘The Great Resignation’, catalysed by the Covid-19 pandemic, has impacted companies across the UK, and for Cornwall’s business community – made mostly of small but mighty teams – staff retention and their wellbeing is paramount, more than ever. Joe Turnbull, founder of the B Corp-certified video agency, Bull & Wolf, and a winner of Cornwall’s 30 under 30, is a strong voice in Cornwall’s business community and advocate for the importance of staff wellbeing. Joe says: “We set out from day one to run a different kind of creative agency, one that cared about its people and the planet. The creative industries are notorious for bad working practices, with high churn and poor employee wellbeing and I fundamentally believe that this leads to bad work. So we work really hard to build a culture that focuses on team development, wellbeing and collaborative input. “We have flexible working, team away days, regular check-ins with our team and always try to adapt to their needs, and next year we are introducing wellbeing days. Good people equals good creative equals better results for our clients. So, while we will always focus
28 | BUSINESS CORNWALL
on building an agency based on kindness and compassion, it’s not just a nice thing to have a strong culture, it also makes good business sense.” Based on survey responses from nearly a thousand companies across the UK, The Chartered Institute of Personnel and Development (CIPD) issued its last report in September 2023. A poignant outcome from its research was the rise in absence due to sickness; 7.8 days on average per employee per year - the highest level in a decade and two days more than recorded in 2019 (5.8 days). A significant event in that timeframe, no doubt, was the pandemic. Together with economic instability, the costof-living crisis, pressures on our healthcare systems and the rise in mental health issues, business leaders now have much to consider in looking after their staff, their values and their bottom-line.
clear that company culture and the wellbeing of the team is of utmost importance. We have always had access to benefits such as flexible working, private healthcare and more imaginative initiatives like ‘pawternity’; where we get time off to look after a new puppy! What’s more, we conduct team surveys every six months to ensure we are achieving our full potential of staff satisfaction and are always open to new ideas that will benefit our wellbeing.” Last year, in highlighting the value of creating a culture that employees want to be part of, Forbes stated: “A workplace respecting people of all races, backgrounds, genders and sexual orientations will attract and retain a wider, more diverse and better community of talent.”
Build a culture that focuses on team development, wellbeing and collaborative input
CIPD’s findings also demonstrate that, “mental health remains the most common focus of organisations” wellbeing activity, with more than half of respondents reporting their activity is focused on this area “to a large extent”. Most also make some effort to promote values/principles, work–life balance, physical health etc. Clearly, supporting the wellbeing of the individuals who make up our vibrant business community is critical to the value of Cornwall’s economy. Ben Clements, sales & partnerships manager at Best Places to Work in Cornwall 2023 winner, Peaky Digital, says: “Since joining Peaky Digital it has been
More locally, Cornwall Chamber’s 2023 Q4 survey to our business community highlighted that 51% of companies (a rise of 3% on the previous quarter) had attempted to recruit, and of those, 74% (a rise on the previous quarter) experienced difficulties recruiting the right people. With 51% citing labour costs as the reason for experiencing pressure to raise prices, attracting the right staff and staff retention is surely ever critical? Is investing in retaining good staff a financial no-brainer? The Truro-based farming insurance specialist, Cornish Mutual, prides itself on looking after its staff and clients.
WELLBEING
CORNISH MUTUAL
CORNWALL
HELEN TITE (iCAREiMOVE)
PEAKY DIGITAL
LUCY COX (THE ACADAME)
BULL & WOLF
BUSINESS CORNWALL | 29
WELLBEING
CORNWALL
During the Covid-19 pandemic, Cornish Mutual developed a ‘Going for Gold’ initiative to support health and wellbeing activities for its staff and reach its goal of being awarded Gold in the Cornwall and Isles of Scilly Healthy Workplace awards. Katie Harland, HR & communications lead, told us about the activities to improve staff wellbeing as the company looks ahead in 2024.
Is investing in retaining good staff a financial no-brainer?
“Wellbeing planning at Cornish Mutual is owned by a team of volunteers, the ‘Wellness Warriors’ from across our organisation,” she says. “We are launching a packed wellbeing calendar for 2024 which will enable our employees to choose to engage with a range of informative events and initiatives which match their interests and stages of life, from food fuddles to menopause cafes. The calendar includes focus on physical, emotional and financial wellbeing, with the aim of giving all employees the opportunity to come together for the chance to try new things and access health and wellbeing support when and where it’s most needed for them.” From offering flexible working patterns to staff development schemes, business owners now consider their staff’s health and wellbeing in more ways than one. Previously taboo topics in the workplace are now the themes of workplace training; for example, the menopause, which can have a significant effect on the health and wellbeing of employees – and in turn on their performance at work.
ADVERTORIAL
In response to the impact of the menopause on the workplace, in 2021, the UK Government’s Women’s Health Ambassador, Dame Lesley, was invited to join a UK Menopause Taskforce as a permanent member, with a remit to work with the Minister for Employment on employment-related issues. Also launched in 2021, The Menopause Workplace pledge was developed by Wellbeing of Women, in collaboration with Hello! Magazine and Bupa. Demonstrating their commitment to providing menopause support, over 1,000 employers including John Lewis and the BBC have signed up, with many other businesses introducing menopause training and support. Cornwall’s Helen Tite, CEO of iCareiMove, highlights the importance of menopause awareness and training in the workplace when considering staff’s health and wellbeing. iCareiMove’s research states three in five menopausal women, aged between 45 and 55, reported being negatively affected at work by their symptoms. Helen says: “The training we deliver ultimately helps us all build better relationships not only in the workplace but with women who surround all of us in all elements of life. We have a transformative programme in Women’s Wellness in the Workplace, promoting women’s wellness in professional settings, expert insights, networking, and a commitment to a healthier work environment. “As we are living longer, we are spending more time in the workforce and need to futureproof businesses to not only retain women but to enable women to thrive in exemplary organisations.”
MEN’S HEALTH While industries such as construction remain male dominated, men’s health, and specifically their mental health, is now a more common topic of consideration. Providing health and wellbeing support for past and present employees of the Royal Institution of Chartered Surveyors (RICS), the independent charity Lionheart has been specifically set up with a mental health focus. RICS highlighted Men’s Mental Health Month in November as “an opportunity for all of us to contribute to the dialogue around men’s mental health”. RICS references a study done by Richardson Healthcare, which states, “one in eight men in England faces common mental health problems” and over 75% of those polled, “experienced some level of symptoms such as anxiety, stress, or depression”, citing workrelated pressure as the most common cause. Speaking at The Future of the Built Environment event last November, Mark Jones, senior project manager for construction firm Morgan Sindall SW, highlighted the company’s activity in supporting its supply chain and staff. Mark says: “At Morgan Sindall we are pleased to offer our supply chain the access to the Supply Chain Assistance Programme where they can access free confidential support and resources, this service is available through a free 24 hour helpline where support is given for Health Assured Support. Also, within the team here at Morgan Sindall, we have a strong internal network of trained mental health first aiders to provide additional face to face support should it be required.” As businesses across Cornwall look ahead in 2024, cashflow will no doubt remain at the forefront of company directors’ minds, but
WELLBEING – SOFT OPTION OR SMART BUSINESS?
by Hazel Sanders, senior associate and head of HRExpress at Stephens Scown. Stephens Scown’s HRExpress service supports businesses in tackling issues using ethical HR and supports plans to improve employee wellbeing. Hazel Sanders is a senior associate and head of HRExpress and would be happy to discuss further – contact her on hre@stephens-scown.co.uk or 03300 945312.
30 | BUSINESS CORNWALL
WELLBEING
the importance of their staff’s wellbeing will too. Investing in staff, be it through training and support or through more considered recruitment methods, may cost but it can also pay off. Of businesses referenced in Cornwall Chamber’s survey results, more were looking to grow their workforce (17%) than reduce it (9%), and most anticipated their workforce to remain the same. Whilst Cornwall anticipates provision of European-funded training to cease, 29% of businesses said their plans for investment in training have increased.
CORNWALL
As businesses seek to invest in their people, retain staff and recruit better, health and wellbeing will remain a common theme in the workplace. Our community has shown that the health and wellbeing of staff is integral to the health and wellbeing of any business. Look after the people and the pounds will look after themselves?
Lucy Cox, is a Cornwall-based confidence specialist and director of The Acadame, a coaching business specialising in corporate training and executive coaching. Lucy’s business offering is based upon statistics that show, with a strong foundation of confidence, staff work better as a team. She says: “With over 50% of staff stating that they feel their low self-confidence means they are not meeting their full professional potential, you can start to see the direct impact on organisational growth and therefore value. At the end of the day, our businesses are our people. Our research showed that over 8% of businesses estimated a loss of potential annual turnover to the tune of £100k+, with a further 25% estimating that figure to be between £20k and £50kpa. It is clear that any leaders serious about business growth and enhancing business value should prioritise investment in their most valuable asset - their people.”
Look after the people and the pounds will look after themselves?
Managing people in the tough world of business doesn’t leave much room for moral principles, right? That depends on how you see it…
• Making decisions with integrity and ethically.
With changes to the way people think about and choose their employer, ethical management is becoming more important. Ethical HR isn’t about inaction, being ‘soft’ or ‘ducking’ an issue that has to be tackled. In fact, it can give a real competitive advantage for your business:
• Not tolerating discourteous or disrespectful behaviour.
• Having clear agreed organisation values embedded and upheld by all – incorporating them into appraisals can be a great tool. • Committing to honest communication.
• Staying open to feedback. • Saying thank you.
• Seeking a diverse workforce. • Protecting personal data. • Having an employee-powered CSR policy. • Developing efforts to support employees in partnership with them.
efforts to furthering those goals and in turn improving profit. With increasing recognition through initiatives such as B Corp certification, there is greater understanding that how a business looks after its people has a direct link to its success. An organisation that pursues this cultural change is likely to be a valued partner for its customers, with organisations being proud to be associated with them. This just makes business sense.
It is well known that where employees feel engaged in the workplace, they share the goals of the business, directing their
BUSINESS CORNWALL | 31
New Homes for sale in Bodmin
Discover a place like no other
Secure your first choice home here now and enjoy exclusive pre-sale prices from
£329,995
It’s almost time to unveil the first phase of 3 & 4 bed homes at The Watchmaker’s. And you’re invited! The first phase will consist of 3 & 4 bed homes, with 2 bed homes in later phases. All with character features and set around 1.5 acres of open space.
Register your interest to receive your invitation to our VIB (Very important bunny) launch event.
01208 244971
thewatchmakers@bunnyhomes.com The Watchmaker’s, Old Callywith Road, Bodmin, Cornwall PL31 2GT
Images are for illustrative purposes only. Prices and availability correct at time of print.
ADVERTISEMENT FEATURE
www.bunnyhomes.com
Discover exceptional new homes at The Watchmaker’s What does your idea of wellbeing at home look like? If you could write a wellbeing wish list, what would it include? Perhaps you’d like to live in an elegant new home, filled with light, surrounded by trees, where the air is clean, and where, whatever the season, when you step outside you feel as though you’ve stepped straight into nature? And would a beautiful park on your doorstep be wonderful too? A place where you can find thinking space, to take a picnic or book and find a shaded corner in the sunshine; a haven where the pace of life just slows a little every day – a place to recharge and replenish? And what does working from home look like to you when it comes to wellbeing? Does your ideal home feel wonderfully rural, yet have all the benefits of modern living – traditionally built with energy saving materials, high-speed broadband and all the comforts of a brand-new home? A place where technology enhances your life and work balance, because everything works exactly as it should? And where you don’t have to think about ongoing maintenance and masses of DIY because so much of it is already taken care of for you? And maybe you’d like to have the right home, in a lovely new neighbourhood, but without having to move away from Cornwall at all? Perhaps this means less of a commute because you’re so much closer to your place of work, as well as being nearer to family, friends, or where your children go to nursery or school? In a first for Bodmin, bunnyhomes is proud to bring its 14-acre John the Watchmaker’s Great Country Park – known as The
Watchmaker’s – to the town. The stunning new neighbourhood of just 170 beautiful two, three and four bedroom Georgian-inspired elegant homes is set in beautiful grounds overlooking Bodmin Beacon all designed around a 1.5 acre park for residents to enjoy.
Susan adds: “We are crafting a unique neighbourhood of just 95 homes for sale, 24 lovely apartments for rent and 51 local parish homes on this 14-acre site, which benefits from lots of beautiful green space and mature trees.
As an exceptional creator of new homes, bunnyhomes, whose home is also in Bodmin, begins the design process of each new home and each new neighbourhood with wellbeing at its very heart.
“We are incredibly passionate about how we plan each neighbourhood; we set out to provide homes that truly lend themselves to the overall wellbeing of every new resident.”
Susan Edwards, Head of Sales, explains: “We scrutinise the finest details and take great care over everything, from including over-sized windows to maximise daylight, to ensuring good air quality within the home.
To find out more about wellbeing at The Watchmaker’s, visit bunnyhomes.com/your-home/reasons-to-buy/
“And because we appreciate how important outdoor space is for wellbeing too, each resident starts their journey with a turfed garden and beautiful, large paved patio area, and even an outdoor tap and double socket. This attention to detail is not typical in a brand-new home – which is why we have made them an everyday part of ours.”
And to explore how to become one of the first people to call this elegant new neighbourhood home, take a look at The Watchmaker’s online at bunnyhomes.com or call bunnyhomes on 01208 244971 or email thewatchmakers@bunnyhomes.com This neighbourhood and our homes really do need to be seen to be believed.
WELLBEING
CORNWALL
Healthy
Presenting six of Cornwall’s wellbeing specialists...
heroes
ALLURE BEAUTY Helen Hart at Allure Beauty has been based at the Health & Wellbeing Innovation Centre in Truro for four years. As a volunteer for the charity Look Good, Feel Better, she works closely with the Cove at Treliske in helping cancer patients feel good about themselves through makeup and skincare. One of her passions alongside the full range of beauty treatments is SPMU and loves
NEWQUAY HYPNOTHERAPY It’s when we are relaxed that we are most effective. Business owners know this. Anyone negotiating a deal or a performance review, focusing, giving a presentation, speaking up or speaking out, will want to be calm, clear, confident and in control. When we’re stressed, problems can get complicated. The solutions don’t need to be. Whether it’s physical, mental or emotional
34 | BUSINESS CORNWALL
benefits you’re after, or better sleep, hypnotherapy is natural, easy, enjoyable, safe, surprisingly straightforward and very, very effective.
newquayhypnotherapy.com 01637 852394 info@newquayhypnotherapy.com
07928 074269 allurebeautycornwall.co.uk
transforming again those who have lost their brows through chemo. A quote which is the ethos of Allure is: “We delight in the beauty of the butterfly, but we never know the changes it has gone through to achieve that beauty.”
WELLBEING
PEGASUS - MEN’S WELLBEING CENTRE Established in 2014, Pegasus provides a nurturing space for men to conquer life’s hurdles, foster resilience, and achieve emotional wellness. Its team of skilled counsellors, psychotherapists, and coaches delivers personalised mental health services aimed at empowering men to excel in every facet of their lives.
CORNWALL
01209 205785 | 07817 261494 pegasusmenswellbeing.co.uk
Pegasus. Additionally, its tailored programmes are designed to enhance the mental wellbeing and productivity of male employees. Pegasus is committed to nurturing the emotional strength of men and fostering their overall success.
Those seeking a supportive environment to address life’s challenges will find solace at
ACTIVE PLUS
01326 567174 | activeplus.org.uk
Active Plus has been supporting businesses and communities since 2011 and has worked with over 7,000 individuals.
The Veterans are on their own journeys, making the transition from the military to civilian careers.
At the core of this support has been the Military Veteran led confidence, motivation, teambuilding and resilience courses.
They are inspirational role models for people dealing with change, promoting the value of ‘helping yourself by helping others.’
These courses provide the vehicle for participants to look at things differently, embrace change and focus on what it can do rather than what it can’t do.
HEALTHAPPY
01566 471733 healthappy.co.uk
Healthappy transforms workplace wellness by providing a comprehensive solution to enhance both physical and mental health. Offering extensive guidance on diet, nutrition, environmental awareness, and social impact, it empowers employees with fitness routines, yoga sessions, personal growth resources, and nutritional support. This initiative underscores a business’s dedication to employee wellbeing, attracting top-tier talent and nurturing a dynamic, health-conscious work atmosphere.
ST MICHAELS RESORT St Michaels’ new collection of Wellness Days offer the perfect opportunity to step away from everyday pressures and focus on wellness and restoration. The collection ranges from short 2-hour experiences through to full days and even 3-night breaks, led by experts and spanning a variety of activities including candle-lit yoga, wild swimming and even Latin dance. Breathe in the refreshing sea air and take in
The outcome; heightened productivity, minimised absenteeism, and scalable solutions adaptable for diverse organisational scales—from fledgling startups to expansive corporations. Healthappy’s holistic strategy ensures businesses flourish by recognising their most crucial asset: their people.
01326 312707 stmichaelsresort.com
the surrounding blue space as you enjoy a Wellness Day designed to put your wellbeing at the forefront. Spend your day with like-minded individuals doing what you love or trying something new. A day to invigorate mind, body and soul on the Falmouth coast.
BUSINESS CORNWALL | 35
PEOPLE
ON THE MOVE
Falmouth Harbour has appointed environmental scientist and businessperson Natasha Collings-Costello as a new commissioner.
NEW HEADLAND HEAD The Headland has appointed an experienced hotelier to its leadership team. Jason Adams has assumed the role of interim MD for a six-month period. The Headland hopes that Adams’ extensive expertise, gained over a successful career that includes a four-year tenure at County Durham’s AA five red-star resort, Rockliffe Hall, will significantly contribute to the next stage of its success.
Collings-Costello, who is MD at Cornwall Environmental Consultants Ltd – the commercial arm of the Cornwall Wildlife Trust - brings 20 years’ experience in the environment and ecology fields to the broad mix of skills and expertise required on the board ,which oversees the management of the harbour’s wide-ranging activities. She said: “As a proud Cornish person who is passionate about the environment and natural assets of Cornwall, I am very excited to join Falmouth Harbour as a commissioner and feel I will be able to provide valuable input and support to the leadership team
Debbie Gilbert has been appointed CEO of Healthwatch Cornwall.
Family director, Veryan Palmer, said: “Welcoming Jason to The Headland brings us great pleasure. We are thrilled at the prospect of his guidance, which we believe will offer invaluable direction to our exceptional team during this new interim phase.”
HOME, SWEET HOME YOU CAN COUNT ON SEAN Well-known accountant Sean Mitchell, has joined Lang Bennetts as a director. Mitchell is based in Truro and specialises in owner-managed business accountancy. Having worked in the area for 20 years, he enjoys long term relationships with many local companies and is delighted to be part of a team that, he says, understands how to help businesses grow from start-ups onwards. “My approach has always been a partnership one,” he said, “working collaboratively and proactively with owners throughout the life cycle of their business and making them aware of opportunities and potential issues from the start.” 36 | BUSINESS CORNWALL
And her new workplace feels like a home from home, as she grew up in
The Alverton in Truro has welcomed back a familiar face. Paul Ricketts, who was previously overseeing The Alverton between 2014 and 2018, has been appointed general manager of the hotel. With a career spanning over 30 years, Ricketts is no stranger to hospitality. Having held roles in a number of high-profile establishments, most recently the Penventon Park Hotel, The Falmouth Hotel and Retallack Resort, he left The Alverton initially in 2018 to go travelling. Paul has now returned to The Alverton and is responsible for overseeing the hotel’s overall operations, ensuring guest satisfaction, and maximising profitability. His key duties include financial management and budget control, staff leadership, overseeing sales and marketing, quality control, and strategic planning. Ben Young, MD at The Alverton’s parent
HARBOUR COMMISSIONER
and the sustainable management of the harbour into the future.”
historic Walsingham Place in Truro, where Healthwatch Cornwall is based. “My parents ran their business from number one, where we lived, and Healthwatch Cornwall offices are at number six,” she said. “I couldn’t wish for a better location or a more exciting role.” Describing herself as a “proud Cornish woman”, Gilbert is at the helm of an organisation that aims to ensure people’s views and lived experiences inform local health and social care decision making. Part of a network of more than 150 local Healthwatch locations across the country, Healthwatch Cornwall was launched in 2013. In addition to Debbie Gilbert, four new non-executive directors have joined the Healthwatch Cornwall board - Mike Wall, Dr Clive Acraman, Richard Williams and Dr Keith Judkins.
RICKETTS’ RETURN
group, The Cornwall Hotel Collection, said: “It’s brilliant to welcome Paul back to The Alverton. His experience is unparalleled, which matched with great leadership skills, means that he’s a great role model for our team.”
FOOD &
TUCK INTO A NEW ROLE Andrew Tuck, formerly the head chef at the St Kew Inn, is this month taking the helm as head chef at Flushing’s Harbour House.
Outlaw’s New Road in Port Isaac has been voted one of the UK’s top restaurants in the annual Harden’s Top 100 Best UK Restaurants diners’ poll. The restaurant jumped to the #2 spot from last year’s 44th position with Nathan Outlaw’s other Port Isaac outpost, Outlaw’s Fish Kitchen, also featuring at #24. Harden’s co-founder Peter Harden said of Outlaw’s New Road: “Nathan Outlaw’s harbourside HQ inspired a dazzling level of satisfaction from our diners this year, with all of the numerous reports we received on it acclaiming it as an ‘outstanding’ performer and very arguably ‘the best seafood and fish restaurant in the UK’.” Adding to Cornwall’s star showing, Paul Ainsworth’s flagship restaurant Paul Ainsworth at No.6 in Padstow goes from strength-to-strength climbing to #4 in the ranking for its “out of this world” experience.
A rising star on the Cornish food scene known for his love of open fire cooking techniques, Tuck recently featured on Rick Stein’s Cornwall series and The Great British Menu and has graced the stages of Cornwall’s popular food festivals.
HELP TO GROW
Until recently, he headed up the kitchen at the St Kew Inn, leading the pub into the Estrella Damm Top 50 Gastro Pub at #36.
Hale Events, organiser of next month’s Expowest Cornwall tradeshow, has revealed details of a new initiative for emerging artisanal Cornish food and drink producers.
Tamara Costin, who owns Harbour House along with William Speed, said: “Andrew Tuck taking up the helm of our open Harbour House kitchen…is a match made in culinary heaven.”
‘DAZZLING’ NATHAN OUTLAW
It is teaming with Cornwall Gateway CIC to provide a platform for these enterprises to showcase their offerings and connect with a broader audience. If you’re interested in taking part with Cornwall Gateway at the show (March 6-7), then you must be a Cornwall-based food and drink producer with a turnover less than £50k. For more details, contact louise.ellis@cornwallgateway.co.uk
BREWER OF THE YEAR St Austell’s brewing director, Georgina Young, was named Brewer of the Year at the British Guild of Beer Writers Awards. Relative newcomer, Ugly Butterfly in St Ives, fluttered into 31st position. “A seriously interesting tasting menu and a view to die for are helping to win evergreater acclaim for Adam Handling’s (of London’s ‘Frog’ fame) beautiful venue overlooking Carbis Bay.”
Top Cornwall chef Paul Ainsworth has revealed he will release his maiden cookbook next summer. The Michelin star chef’s words, and work, has already appeared in the Padstow Festival Cookbook. But he’s finally decided to take the plunge and can’t wait for his own publication to hit the shelves later this year.
AINSWORTH ON PAPER
DRINK
“It’s taken a long time, on purpose,” he told the Fuelling Around podcast. “It’s one of those projects that, when you say yes, it’s huge. It’s over 100 recipes and is with an amazing publisher, Harper Collins.
The award follows hot on the heels of a Lifetime Achievement award she received at the Brewer’s Congress in October. “I am absolutely made up by this award,” said Young. “I couldn’t do any of this without my great team and everyone at the brewery. We work for an amazing business.”
They’ve been amazing, they just want me to be able to pretty much do what I want to do. “It’s not a No6 cookbook, so it’s recipes that you’ll find from Cafe Rojano’s, The Mariners and things I love to do at home. “ The television personality was on the show to discuss his love of cars but also spoke at length about becoming one of the UK’s top chefs, about working under Gary Rhodes and Gordon Ramsey and also discussing what it’s been like to compete with Rick Stein in Padstow. “I actually know Rick’s ex-wife Jill more,” Ainsworth told the podcast, “and I can honestly say it’s always been amicable and nice and I know his son Jack really well. “There’s always been a bit of a feeling that there’s enough room for everybody, but also now I think there is definitely a common ground that we complement each other.” BUSINESS CORNWALL | 37
CREATIVE
AND DIGITAL
SPONSORED BY
FIRST IN CLAAS
customers to experience it firsthand.
Cornwall-based film production company, Oatey, has completed two films for CLAAS UK, one of the world’s leading agricultural machinery manufacturers.
Oatey founder, Sam Oatey, said the magnitude of the project, one of Oatey’s largest to date, underscores the trust that CLAAS UK placed in its hands.
Following the opening of its new £21 million UK headquarters in Suffolk, CLAAS UK sought Oatey’s expertise to create high-end content that would not only showcase the state-of-the-art facility but also entice
“CLAAS UK’s decision to collaborate with us echoes the rising influence of Cornwall’s talent on a global stage,” he said. “It speaks to the unmatched creativity and professionalism present in our region.”
The centrepiece of this collaboration was the customer experience film, a comprehensive tour of CLAAS UK’s new headquarters. Oatey also embarked on its most ambitious FPV (first person view) drone tour to date, which involved 175 individuals and five intricate flights.
www.digitalpeninsula.org
LOBBYING FOR A CREATIVE FUTURE Renowned Cornish theatre companies Scary Little Girls and ‘Owdyado Theatre have partnered up to lead a campaign for Cornish creatives lobbying for more support for the region’s creative industries. Over 70 local creatives – including artists, performers, writers and directors – responded to a recent survey despatched by the ‘Owdyado team, looking for their thoughts about the current status of the Cornish creative scene.
Climate-conscious digital product studio, Hiyield (pictured), and broadband provider, Wildanet, are among the latest Cornish companies to have achieved B Corp status.
B CORPS ON THE RISE
Both businesses have been certified by B Lab, the not-for-profit behind the B Corp movement, as having met rigorous social and environmental standards which represent their commitment to goals outside of shareholder profit. Hiyield founder and CTO, Matt Ville, said: “Our B Corp certification marks a key milestone in our journey to positively impact our team, community, and the planet. “It aligns with our core values and the high standards we set for ourselves. As the tech world expands, it’s imperative to be more mindful of its impact on our planet.” Wildanet, meanwhile, has become the first UK-based AltNet (Alternative Network
Provider) to be a certified B Corporation. Helen Wylde-Archibald, chief executive of Wildanet, said: “We are delighted and very proud to be recognised as a certified B Corp and to be leading the way for UK AltNets. “Wildanet’s founding mission, our ethos and operation is steeped in responsibility and sustainability. It is about working with and supporting communities in Cornwall and the south west, seeking to balance looking after the environment, looking after people, and growing a successful and profitable longterm business.” Currently, there are over 1,500 B Corps in the UK and 7,000 globally. Hiyield and Wildanet are now part of a cluster of B Corps from Cornwall, including Finisterre, Origin Coffee, Rodda’s, and xigxag to name but a few.
TAKING THE LEAD AT WILD CARD Communications consultancy, Wild Card, has strengthened its business structure for 2024 and beyond with the appointment of a new senior leadership team.
LAUREN PETERS, ELLIE KITCATT & AARON HUCKETT 38 | BUSINESS CORNWALL
In a hat-trick of promotions, six-year Wild Card veteran Aaron Huckett has been promoted to director and heads up business development for the consultancy across its
Survey respondents recently met in Penryn to consider how to address the challenges facing the sector. The major issue cited by survey participants was the availability of arts funding within Cornwall, with perceived problems with decision-making criteria from funders and the distribution of the funds across the UK. Charlotte Bister, creative director of ‘Owdyado Theatre, said: “The survey we undertook underscores the abundance of ambition, talent, and passion in Cornwall’s performing arts community – but it also sheds light on the frustration, anxiety, and exhaustion that many artists face.” Rebecca Mordan, artistic director of Scary Little Girls, added: “In these difficult times, it can feel like the goal posts are always moving - despite us all working harder and harder. But Cornwall has such a unique performative culture and talented, resilient artists, we feel there is so much we can do if we talk and work together to bring positive change to our sector.” three offices in London, Bristol and Cornwall. Huckett also has strategic oversight of the consultancy’s brand activity and oversees all social and digital delivery. He is supported in the refreshed senior leadership structure by Lauren Peters and Ellie Kitcatt who have both been promoted to the position of associate director with a specific focus across Wild Card’s food & drink and travel & lifestyle clients. Long-standing director, Sophie Langridge, completes the senior leadership team alongside MD Georgie Upton.
NEWS
B CORP GEMS
TOURISM
TOURISM FORECAST VisitBritain has published its tourism forecast for 2024 showing an increase in inbound visits and spend overall to the UK compared to 2023 levels. VisitBritain’s overall forecast for spending by international visitors in 2024 is £34.1 billion, up 7% on the spending predicted in 2023 and up 20% on 2019. Looking at the number of visits to the UK, 39.5 million visits are forecast, up 5% on the 37.8 million expected in 2023, however still 3% shy of 2019 levels.
Cornish Gems has become the first holiday home company in Cornwall to receive B Corp certification. Cornish Gems joins just ten other accredited accommodation providers in the whole of the UK.
(ESG) manager, Emma Fashokun, Cornish Gems achieved an overall score of 97, exceeding industry averages across all the examination areas of Governance, Workers, Community, Environment, and Customers.
Led by environmental social governance
Nadia Macer-Wright, co-owner of Cornish Gems, said: “We’re thrilled to share our B Corp certification news, as the first independent Cornish home company to be accredited. It’s a milestone moment for our business. We’re extremely proud to join the B Corp community and to help pave the way for the sector.”
Two of Cornwall’s best known hotels have gone on the market.
Meanwhile, the popular Mannings Hotel in Truro is also available.
Christie & Co is seeking offers of £3 million for the freehold of the Driftwood Hotel, perched along the South West Coastal Path and boasting sweeping sea views over Gerrans Bay.
Lynn Manning bought the hotel in 1993 with her husband, who tragically died of a brain tumour not long after they had started the extensive renovation and refurbishment programme of the Grade ll listed coaching inn.
This achievement follows a rigorous B Corp certification process assessing the entirety of business operations, ensuring social and environmental standards are met with an ethos of re-evaluation and improvement.
The “New England inspired” hotel features 14 rooms, a highly regarded restaurant and a three-bedroom owner’s house, along with landscaped gardens and five-acre grounds down to a private beach. The current owners, Paul and Fiona Robinson, have decided to list the hotel to seek retirement.
“I was brought up in the hospitality industry right here in Cornwall,” explained Manning. “I had been looking at this beautiful but neglected hotel for years, and eventually my husband and I approached the then owners and started negotiations for us to buy it. “At the time, there were plans to turn it into
The United States continues to lead tourism’s recovery with record-breaking spend by American visitors in 2023, up 28% on 2019 based on latest figures. Recovery from Europe slowed as 2023 progressed with spending, in real terms, remaining just below 2019 based on the latest data. China has continued to build back with visitor numbers increasing throughout 2023, with an expectation to recover to a value of £1.7 billion in 2024. VisitBritain is predicting that inbound tourism, both the number of visits and spending, will recover to 2019 levels by early 2025.
HOTELS FOR SALE a shopping centre, but fortunately we were able to invest in the hotel instead, turning it into a much loved and successful business which has surely been part of thousands of lives since it was built in 1797. I have always seen the hotel as part of the heritage of Truro and I hope whoever buys it will have the same vision for keeping the business at the heart of the local community.” Property consultant, Vickery Holman, is handling the sale with a guide price of £4.5 million. BUSINESS CORNWALL | 39
EDUCATION
& TRAINING
SPONSORED BY
www.truro-penwith.ac.uk
institution that is driving regional growth. “I am greatly looking forward to leading the board through its next chapter as we work together to ensure the University continues to thrive.”
UNI NAMES NEW CHAIR Falmouth University has appointed a new chair of governors. Helen Owers will assume the role in April, taking over from Chris Pomfret who is stepping down after nine years. Owers lives in Cornwall and has served on Falmouth University’s board since 2019 as an independent member. She has extensive senior executive experience in the media and creative industries and was president of global businesses and chief development
officer at Thomson Reuters. Commenting on her appointment, she said: “It is a privilege to be taking up this position at an institution I greatly admire. “Falmouth University is pushing the boundaries of creativity and expanding its application in exciting ways, fusing creativity with the potential of new technology. It’s delivering research excellence and a great student experience, and it has an important role to play in Cornwall as an anchor
Professor Emma Hunt, vice-chancellor and chief executive of Falmouth University, added: “Helen’s experience, expertise and skills have made her an enormous asset to the board as an independent member and will make her an outstanding chair. I look forward to working with her in this new capacity as we work to deliver our institutional strategy. “Helen will step into the role of chair as Christopher Pomfret OBE steps down in his ninth year in the role. We are enormously grateful for his contribution to the university over this time, which included a period of significant growth, successful ventures including our Launchpad programme, the creation of new partnerships and of course, the challenges of navigating the pandemic.”
CORNWALL COLLEGE SHOWS SPIRIT Learners from Cornwall College University Centre, part of The Cornwall College Group (TCCG), showcased their artistic talents at the Royal Cornwall Museum’s (RCM) ‘Spirit of Cornwall’ exhibition last month. Carol Weir’s eye-catching artwork has captivated the public’s attention in Truro and has earned her a spot on the shortlist for the museum’s Panel’s Choice award category. Meanwhile, Bev Williams has been displaying her artistic finesse in the gallery and has been shortlisted in the People’s Choice award category. The Spirit of Cornwall exhibition provides a platform for local artists to celebrate and showcase their creative endeavours based on the county’s wild coastlines, moors and mythology. Jamie Hanson, senior study programme manager for higher education art and design, said: “Carol’s achievements speak volumes about the impact of the BA(Hons) Art & Design Practice programme in Camborne. Her multiskilled creations reflect the rich learning opportunities provided by the course. It’s inspiring to see all our students and ex-students grow into confident artists.” 40 | BUSINESS CORNWALL
An innovative training course focused on promoting leadership and team building within the NHS has been shortlisted for the Health Service Journal (HSJ) Partnership Award. Take Point Training, in partnership with Barts Health NHS Trust, has been shortlisted in the category of ‘Best Educational Programme for the NHS’. The Falmouth-based firm specialises in leadership and team development training, using the skills, experience and expertise of former military personnel. The HSJ Partnership Awards recognise outstanding contributions to improving healthcare and effective collaboration with the NHS. Now in their seventh year, 228
TAKEPOINT SHORTLISTED entries have been received for this year’s Partnership Awards, with Take Point Training among the projects and individuals included in the final shortlist. Stephen Marcus, head of learning at Take Point Training, said: “Being shortlisted for the HSJ Partnership Awards 2024 is extremely exciting and I am thankful for the recognition of the programmes impact, the foresight and ambition of our partners Barts Health NHS Trust, and the hard work of our teams in delivering this successful programme.” Winners will be announced at an awards ceremony in March.
CHAMBER
SPONSORED BY
cornwallchamber.co.uk
NEWS
HAPPY NEW YEAR! means feeling melancholy in March because you’re not achieving what you said you would. Business conditions are tough at the moment, so the best thing we can do is continue to strengthen our organisations, so that when things get easier, we can fly. So, what’s the lay of the land as we move forward in 2024?
CORNWALL CHAMBER CEO, KIM CONCHIE, LOOKS FORWARD TO WHAT’S IN STORE IN THE COMING MONTHS It was lovely to stop, but it’s also lovely to be back, and I’m excited to see what 2024 holds for Cornwall’s businesses and Cornwall Chamber of Commerce. As with individual New Year’s resolutions where we often set fairly unachievable goals, it’s important not to put too much pressure on your business in the early part of the year. New year, new start – I’m all for it, but not if it
Many firms are still facing huge pressures where hiring and retaining staff are concerned. The BCC has just released figures from a survey of 5,000 business across all sectors. 82% of firms within the hospitality sector reported hiring challenges – up from the Q3 figure of 79%. If we can’t get on top of this in Cornwall, it’s going to (once again) make things difficult for our peak season. In Cornwall, lack of housing is most definitely having an impact on recruitment – and indeed the confidence and ambition of our younger colleagues more generally. I’m excited to have teamed up with Nick Rodda (Rodda’s) and Bull and Wolf to create a campaign encouraging business owners to look at what space they might have available to sell, rent or give, to create temporary or
permanent housing for workers. By reinventing empty spaces, we can reduce pressure on businesses and boost the Duchy’s productivity. It’s crucial we retain our skilled workers and don’t lose them to other counties because they have nowhere to live in Cornwall. Skills is a big issue as we move into 2024. The BCC is calling for a more flexible apprenticeship levy, access to rapid upskilling and reskilling opportunities, and a long-term commitment to Local Skills Improvement Plans across England. The upcoming budget is an important one to help businesses get back on track. We need support to get more people into work and plug skills gaps. This year is going to be an interesting one; not only will the UK have an election, but so will 63 other countries. The number of voters heading to the polls (globally) will be the most ever in history. It will be fascinating to see how global commerce changes under all those new leaders…
30 UNDER 30 AWARDS Our 30 under 30 awards are stronger than ever. Now in their ninth year, these awards celebrate the Duchy’s brightest young business talent. We’re privileged to have the support of Business Cornwall, as well as Whyfield, Bauer Media Group, Coodes Solicitors and Truro and Penwith College, to help us recognise 30 of Cornwall’s most innovative young businesspeople.
Nominations can come from friends, family, employers, colleagues, or the individual themselves. The judges are looking for nominations that represent the true diversity Cornwall has to offer and the unique contribution these passionate and talented people are adding to the Duchy. The awards are a brilliant opportunity for employers and managers to really show how much they value the work of their young members of staff and give them that added bit of confidence to push themselves further.
In a change to the usual proceedings, this year we’ve decided to shortlist 80 nominees and announce the 30 winners at the awards ceremony.
In the last nine years, we’ve seen how valuable that 30 under 30 accolade is on a CV, so it’s well worth the time to complete the application form.
To be eligible for the award, 30 under 30 candidates must be employed, or selfemployed, under the age of 30 on March 18, 2024, and living and working in Cornwall.
Why not start the New Year off with an award! All info at our website, cornwallchamber. co.uk > events > 30 under 30
Email: hello@cornwallchamber.co.uk Call: 01209 216006 Online: www.cornwallchamber.co.uk
WHY JOIN?
Cornwall Chamber of Commerce is an independent not-for-profit organisation accredited by the British Chambers of Commerce. We solely exist to represent businesses in Cornwall. Our events provide a platform for businesses to connect, create and make valuable business relationships. Membership to the Chamber starts from as little as £17 +VAT per month and provides you with the tools to promote your business. Get in touch today to have a chat about how we can support you and your business. BUSINESS CORNWALL | 41
OPINION
JUST A THOUGHT
Investing
in the future
42 | BUSINESS CORNWALL
JUST A THOUGHT
OPINION
Former Cornwall Transport Portfolio holder and Mayor of Truro, Bert Biscoe, offers his ideas for a Cornish rural infrastructure and development fund. In the rural visitor idyll, which is, of course, shared with those whose profession is producing food, perhaps the greatest unsung challenge, in socio-economic and environmental terms, is the sustained maintenance of Cornwall’s minor road network. The lanes constitute about two-thirds of our highway network. Surprisingly, despite the marketers’ wiliest wiles, grass grows down the middle of a remarkably small amount of these winding, narrow, and evocative highways and byways. Ditches and drains are routinely cleared, potholes, when reported, are patched and, as resources allow, repaired. Hedges are kept in good condition by evermore invasive machines to the extent that Cornwall is losing her worry-lines and habitat. There is constant erosion of verges as machinery hacks out passing places, and traffic volumes and driving styles erode tarmac which, in many cases has lasted well since its initial provision, mainly in the 1930s. The impact of rural road maintenance on the Council budget is such that the challenge is not being kept pace with, even though the commitment of the always excellent CORMAC means that, so far, we have seen little abandonment or down-grading – but, be warned – this will come, unless we do something. Many Cornish towns now boast a Business Improvement District (BID), financed by a small percentage levy added to business rates. Nothing is perfect, and many BIDs, especially post-lockdown, appear to have business plans rooted in a different dimension to the reality that many towns now face, but the idea is sound. Some years ago, whilst considering the challenge of sustaining a high-quality rural road network, I suggested exploring with the Government the possibility of a rural BID. However, my suggestion included amassing the bulk of levy income into an endowment fund which, as time went on, could produce two key outcomes: 1. INVESTMENT INCOME to meet the cost of maintaining the rural road network.
2. AN INVESTMENT FUND charged with supporting the appropriate development of Cornish rural businesses to foster employment, innovation and business development. The suggestion of an endowment was also made when notions of Cornwall experiencing a resurgence in mining, spurred by the resource demands of technologies required to mitigate and meet the challenges of climate change, were damned as the fantasies of fanciful dreamers. The publication of the UK Minerals Strategy in February 2023 laid that lie! Cornwall (and Camborne School of Mines) sits front and centre – it’s coming back, no doubt. What will we get out of it? This second string to the Cornish Endowment bow needs serious and urgent thought. Lithium is the tip of the metalliferous iceberg – tin and copper (traditional), rare earths and, most importantly for electronics, china clay – Cornwall has the most plentiful supplies of high-quality materials in Europe, and amongst the best in the world. Prices and costs are coming ever more closely into alignment. What will the Cornish dividend be?
and the need to maintain them, and to find a creative and affordable way to sustain the funding necessary to enable our economy to continue and evolve. It seems to me that, rather than sequestering tuppence a wheel on top of the fare from cars on the Bridge or fitting occupancy monitors to hotel beds, the business rate offers a readymade fiscal mechanism. The BID concept offers a good governance model, and the concept of ‘endowment’ means that some part of the tax burden at least is being used as an investment and not just to fuel cashflow and debt repayments. If we are to engage in talks about devolution with the Government and Cornwall has an economy which pays-in to the British project rather than being depressingly dependent upon its pecunious largesse, then those talks need to get real and big! We need to talk about investing in a proper Cornwall-focused health service; we need a police force which can properly serve our population. And we need to be able to innovate in generating sustainable revenue to keep the nervous systems of connectivity open and in good repair. And we need to ensure that justice is done to all those communities which are now looking forward to a relatively short burst of intense mining activity, so that appropriate levies are in place and enforced to enable an eventually riven place to sustain itself as a beautiful, fulfilling, healthy, clean, caring and unique place for however long the future lasts!
Business rates offers a readymade fiscal mechanism
I recall the Cornish Stannary Parliament issuing a (very modest) invoice to the Duke of Cornwall, seeking late reparational settlement for 800 years of exacting revenue from Cornish mining – a tad eccentric, you may say, but the reasoning is not. The Stannary was suspended (not abolished) in the C19th. The UK Minerals Strategy has nothing to say on the matter!
If the UK Government sees Cornwall as the key to its need for strategic materials to develop planet-saving technologies, then how will it compensate Cornwall for the loss of its underground and mineral wealth? It’s all very well talking about skilled jobs and so on, but any mining boom will have a finite life, with Cornwall left by the end, like the North Sea, hollowed out! And then, we return to those rural roads
About the author: Bert Biscoe’s Bardic name
is Vyager gans Geryow. He is a former Transport Portfolio Holder and retired member of Cornwall Council. He was Mayor of Truro during lockdown, and now offers historical walks around Truro, writes poems and thinks….
BUSINESS CORNWALL | 43
CONNECTED
CORNWALL
CLLR MARTYN ALVEY
MOST SUSTAINABLE ORGANISATION, WILDANET
GROWING GREENER WINNER, THE GROWER
CORNWALL SUSTAINABILITY AWARDS The Westcountry Rivers Trust was crowned overall winner at the Cornwall Sustainability Awards, held at the Royal Cornwall Museum. Other winners on the night included The Grower, Cleaner Seas Groups, Treveth Holdings, Wildanet, Lynher Dairies and sustainable holiday accommodation company Railholiday. A perpetual award was also set up in memory of the former chair of Cornwall and Isles of Scilly Local Enterprise Partnership, Mark Duddridge, who died last year.
JOSIE PURCELL FROM OVERALL WINNER WESTCOUNTRY RIVERS TRUST WITH CAROLINE CARTER (BUSINESS CORNWALL) 44 | BUSINESS CORNWALL
CONNECTED
CORNWALL
CAROLE THEOBALD (ISIGHT CORNWALL)
BUSINESS CORNWALL LIVE! The Pool Innovation Centre was the venue for Business Cornwall’s first networking event of the year. Delegates heard from four speakers across a range of topics, aimed at helping get your business ahead in 2024.
CAROLINE CARTER (BUSINESS CORNWALL), TONI EYRIEY (BUSINESS CORNWALL) AND RACHEL KOERNER (BUSINESS CORNWALL)
BECCIE PASCOE (HAPPY BUSINESS), CERYS HARTT (GROWTH HUB) AND JOSH HOOLE (PEOPLE HUB)
TREVOR LEE (TREVOR LEE MEDIA), CALLUM PHILCOX (PKF FRANCIS CLARK) AND PATRICK FETTER (AZTEK)
CHRISTIANA RICHARDSON (GROWTH HUB), RIA WILLIAMS (PERFECT SUMS), JO SIDNEY (PERFECT SUMS) AND TOM KENNEDY (BAUER GROUP)
TIM WILKINS (CORNWALL PAYROLL) AND IAN HARRIS (CORNWALL BUSINESS CONNECTIONS)
KIRSTY MILES-MUSGRAVE (GROWTH HUB) AND AMANDA PENNINGTON (WILDANET)
DAN GOODWIN (BLUEFRUIT SOFTWARE), IVA SCHROEDER (DIGITAL FLOWER) AND REBECCA LOTO (CORNWALL INNOVATION) BUSINESS CORNWALL | 45
UPCOMING
EVENTS
FEBRUARY 2024
EVENTS WORKING LUNCH 6 LISKEARD
Country Branch Library, Liskeard
Meeting on the first Tuesday of each month, The Working Lunch is a great way to meet business owners and entrepreneurs to discuss the challenges and possibilities in Liskeard. eventbrite.co.uk
MARK DUDDRIDGE MEMORIAL
Hall for Cornwall, Truro
The Cornwall and Isles of Scilly Local Enterprise Partnership is hosting a memorial event to celebrate the life and work of its late Chair, Mark Duddridge, who passed away in May. eventbrite.co.uk
CHAMBER LUNCH 7 CORNWALL Tresanton, St Mawes
Join Cornwall Chamber for its monthly networking lunch, this month hosted at the picturesque Tresanton Hotel in St Mawes. cornwallchamber.co.uk
TOURISM TOGETHER Saffron Academy, Newquay
Tourism Together is a collaborative network established to support Cornwall’s tourism, leisure and hospitality sector. eventbrite.co.uk
REAL FOOD & FARMING CONFERENCE 8 CORNWALL
great meeting. If you have never experienced an Open House with Your Partnerships at the birth home of Your Partnerships, you are missing out! yourpartnerships.co.uk
Queen’s Hotel, Penzance
The Cornwall Real Food and Farming Conference is back for 2024, for the freshest farming ideas this side of the River Tamar! eventbrite.co.uk
THE PIG DIPPERS
The Pig at Harlyn Bay
WOMEN IN BUSINESS LUNCH
Diving into a swim at Harlyn Bay is like stepping into a tranquil aquatic paradise. So why not join the gang in February, after all from here on out the water is only getting warmer! cornwallchamber.co.uk
Penventon Park Hotel, Redruth
All are welcome to the Women in Business Lunch on the second Thursday of each month. yourpartnerships.co.uk
CHAMBER BRUNCH 13 CORNWALL Cove Café, Hayle
The first Chamber Brunch of 2024 will return to the beautifully picturesque, The Cove Café in Hayle. cornwallwallchamber.co.uk
20 BIG CORNISH TECH SHOWCASE
14 KING NETWORKING
Victoria Inn, Threemilestone
The Kernow Independent Networking Group gathers fortnightly every other Wednesday. Members each give a one-minute presentation on their business and the kinds of referral they would particularly value. king-networking.co.uk
PARTNERSHIPS OPEN HOUSE 15 YOUR Victoria Inn, Roche
This is the original home of Your Partnerships and this is always a
Spaceport, Newquay
The Big Cornish Tech Showcase will be the first event in Cornwall dedicated solely to demonstrating the quality of digital and software expertise we have in the region. eventbrite.co.uk
PIRAN BUSINESS BREAKFAST Norway Inn, Perranarworthal
Referrals based network. Building strong relationships and working for one and all. Piran business networking has just one business category per member so you know who you’re referring too. eventbrite.co.uk
TRURO COFFEE & COWORKING Green Room Café, Truro
If you work from home or are a successful career woman who just needs to escape the office, then
YOUR PARTNERSHIPS IS CORNWALL’S LARGEST NETWORKING GROUP, WITH MEETINGS UP AND DOWN THE DUCHY Growing a business can be challenging. You want your business to be visible to the right people, so it’s important to know how and where to meet them. Your Partnerships is Cornwall’s largest networking group and its events enable you to connect with other members, gain referrals and build trusting relationships with customers and suppliers.
Your Partnerships, can help your business grow! For meeting dates (online and in-person), visit our website at... 46 | BUSINESS CORNWALL
yourpartnerships.co.uk
UPCOMING
EVENTS
For further details of these and more networking events visit businesscornwall.co.uk To publicise your event for free, email news@businesscornwall.co.uk
Women’s Business Club’s Coffee & Coworking is perfect for you. eventbrite.co.uk
ARTISTS & MAKERS NETWORKING
Royal Cornwall Museum, Truro
Drop into Royal Cornwall Museum for a creative networking event. Connect with artists, makers, spaces and creative organisations in Cornwall. eventbrite.co.uk
MEDIA 21 SOCIAL WORKSHOP
Healeys Cyder Farm, Penhallow
Big Box & Peaky Digital combine for a one-of-a-kind workshop.
Access actionable insights and take your brand to the next level in 2024. eventbrite.co.uk
BUSINESS BREAKFAST 22 PENZANCE
The Exchange, Penzance
An informal breakfast meeting for business owners, professionals and anyone with a business interest in Penzance and Cornwall. eventbrite.co.uk
PIRATES V 23 CORNISH ROYAL NAVY
Mennaye Field, Penzance
A break from league action and a special fixture in
the rugby calendar, as the Cornish Pirates entertain The Royal Navy at the Mennaye. Hospitality packages available for the full match day experience. cornish-pirates.com
CHAMBER BIG BREAKFAST 28 CORNWALL Greenbank Hotel, Falmouth
Cornwall Chamber of Commerce would like to invite you to The Greenbank Hotel for its February BIG breakfast event. The theme of this breakfast will be centered around People & Work Culture. cornwallchamber.co.uk
CONFERENCES • MEETINGS • TRAINING DAYS
Considering a new venue for your next private event? Scan below for more information.
Friday, February 23, kick-off: 19.30
Cornish Pirates v Royal Navy
Get the full match day experience with our amazing match day hospitality package. For more information email: liz.mclean@cornish-pirates.com www.cornish-pirates.com
The Royal Cornwall Events Centre, Wadebridge www.pavilioncentre.co.uk BUSINESS CORNWALL | 47
THE LAST
WORD
KIRSTY DAVEY Coodes Solicitors
WHAT DID YOU WANT TO BE WHEN YOU WERE YOUNG?
I wanted to be a pathologist as I have quite an analytical brain and so this appealed to me, although looking back it was perhaps a bit morbid. I then discovered that I was quite talented at negotiating with my four siblings and so becoming a lawyer was a natural choice.
WHAT WAS YOUR FIRST FULL TIME JOB?
I worked for the Department of Work and Pensions. Having experience in the public sector has been helpful in my current career and I was lucky enough to work with some amazing people.
WHAT HAS BEEN THE BEST MOMENT IN YOUR CAREER?
Being nominated as President of the Cornwall Law Society has been a high point for me this year, but I always get a buzz when finishing any deal or project for a client.
WHAT HAS BEEN THE WORST MOMENT IN YOUR CAREER?
Going to multiple interviews when looking for a training contract. I am highly competitive and so took knockbacks quite personally. Looking back, I can see now that we just weren’t the right fit for each other and it was very much for the best!
WHAT IS THE BEST THING ABOUT LIVING IN CORNWALL?
The beauty of the unspoilt wild parts, from the old mining works on the coasts to the moorlands where time really does feel like it is standing still. I am a winter person and I love getting a space to myself to enjoy.
WHAT’S IN YOUR POCKETS?
Nothing – I have a Mary Poppins size handbag and so the pockets remain free!
48 | BUSINESS CORNWALL
HOW DO YOU LIKE TO RELAX?
Being outside generally and doing an activity – walking, kayaking, swimming, anything really!
IF YOU COULD INVITE ANY TWO PEOPLE FOR DINNER, WHO WOULD THEY BE AND WHY WOULD YOU INVITE THEM?
This is a tricky question because ideally you would want them to also get along! I would love to listen to Ranulph Fiennes as he must have endless stories to share, but also would invite Greg Davies to lighten the mood and perhaps set some dinner party challenges!
IF YOU COULD BE GOD FOR A DAY, WHAT MIRACLE WOULD YOU PERFORM? Nothing. I’m not overly sure that I could cope with the risk of triggering a butterfly effect and so would prefer not to wield that much power!
WHAT WAS YOUR BIGGEST MISTAKE IN LIFE?
None – every mistake is a lesson. I’m also not so sure that I would want to rank those that I have made!
WHAT WAS YOUR LUCKIEST BREAK?
Getting into UCL when I was in living in Sydney at the time. I didn’t know how good a university it was when applying!
WHAT WOULD YOU LIKE TO BE DOING IN FIVE YEARS’ TIME?
The same role in my firm, but having grown the firm by offering an even better service than we do now. I would also like to have done a big challenge of some sort by then too, I have the Atlantic Challenge page saved as a favourite currently.
PREP SCHOOL OPEN MORNING Wednesday 13 March from 9.30am to 12.30pm
Discover the difference at Truro High School, for girls aged 3-18. Please register in advance by emailing registrar@trurohigh.co.uk or calling 01872 242902 www.trurohigh.co.uk
BUSINESS CORNWALL | 49
WHY VISIT?
Join us at
• Meet a range of producers - from small artisans to international brands. • Connect in person, network, taste and be inspired. • Get set up for the year ahead in two perfectly timed days. • Exclusive show offers.
EXPOWEST CORNWALL
TRADE ONLY
6-7 March 2024
WADEBRIDGE
Expowest Cornwall is the region’s truly essential hospitality and catering trade show. See, touch and taste the newest crop of products, catch up on the latest news and gossip, and get a feel for how the latest trends are shaping the market. This is the one show you cannot afford to miss.
REGISTER NOW FOR YOUR FREE ENTRY BADGE
Visit: expowestcornwall.co.uk to register or call us on 01934 733456.
ROYAL CORNWALL SHOWGROUND WADEBRIDGE, CORNWALL PL27 7JE Wednesday 6 March 10:00am - 5:00pm Thursday 7 March 10:00am - 4:00pm The showground is one and a half miles west of Wadebridge on the A39. There is free parking within an easy stroll of the show.
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