Business Leader Magazine: August/September 2023

EVENTS FOR YOUR CALENDAR

SEPTEMBER

5TH EVOLVING CONSUMER EXPECTATIONS AROUND E-COMMERCE AND HOME DELIVERIES

6TH SEVEN HABITS OF SUCCESSFUL BUSINESSES

14TH PLANNING FOR GROWTH AND BUILDING FINANCIAL RESILIENCE

19TH TALKING SHOP: THE FUTURE OF RETAIL DEBATE

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A reputation built up over decades can be destroyed in hours by a botched response to a major issue. Controversy is nothing new to BrewDog. From toxic workplace to the best employer, how have turned things around?

The Midlands is often classified as an underdog. With a £238bn economy and a population of over 10 million, is the region one to watch?

EDITOR’S COMMENT

Happy summer. We’re deep into the season of barbeques, out-of-office responses, and warm nights. Whilst many people have a brief respite from the daily grind, there’s no break from the headlines of high inflation, stubborn interest rates, and potential winter blackouts. Even though the mainstream news is packed with doom and gloom, the business world is brimming with enough positivity to warm the cockles of one’s heart.

The winners of the 2023 Go:Tech Awards were crowned at a gala ceremony at Hilton Bankside in London. The national awards, run by Business Leader, celebrated the best of UK innovation. Every award finalist truly represented the reason we should all be positive about the country’s prospects, despite the looming recession cloud.

This edition of Business Leader magazine is packed with the essential reading you need to get you through to your children’s first day of school. Under the microscope is BrewDog’s miraculous turn from taking a lagering for being an abusive environment to the hoppy accolade of the best place to work; a PR spin-job or a lesson in how to handle a crisis?

We met Roc Nation Sports International’s President Michael Yormark at their London HQ to talk about creating a team environment in the workplace, taking inspiration from some of the world’s biggest names in sports, and much more. We also look into the prospects of raising investment outside London, investigate the UK’s drain brain, and take a deep dive into the state of the manufacturing sector. Thanks for reading this edition and be sure to join the conversation on LinkedIn.

Josh Dornbrack Editor

Editorial@businessleader.co.uk | @JDornbrack

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EDITORIAL

Josh Dornbrack - Editor

E: josh.dornbrack@businessleader.co.uk

James Cook - Digital Editor

E: james.cook@businessleader.co.uk

Patricia Cullen - Senior Business Reporter

E: patricia.cullen@businessleader.co.uk

Alice Cumming - Editorial Assistant

E: alice.cumming@businessleader.co.uk

SALES

Sam Clark - Head of Awards Sponsorship

E: sam.clark@businessleader.co.uk

Tom Dyson - Advertising & Sales Executive

E: tom.dyson@businessleader.co.uk

DESIGN/PRODUCTION

Adam Whittaker - Head of Design

E: adam.whittaker@businessleader.co.uk

DIGITAL & WEB

Gemma Crew - Marketing Manager

E: gemma.crew@businessleader.co.uk

Rosie Coad - Marketing Executive

E: rosie.coad@businessleader.co.uk

CIRCULATION

Adrian Warburton - Circulation Manager

E: adrian.warburton@businessleader.co.uk

DIRECTOR

Oli Ballard - Director

E: oli.ballard@businessleader.co.uk

MANAGING DIRECTOR

Andrew Scott - Managing Director

E: andrew@businessleader.co.uk

OUR COMMITMENT

Business Leader Magazine is committed to a zero carbon future and supports the World Land Trust by using compostable wrap rather than plastic polywrapping. Carbon-balanced PEFC® certified paper, which is sourced from responsible forestry, is produced in an environmentally-friendly way to offset our CO2 emissions.

UK SMALL BUSINESS OWNERS REPORT POSITIVE OUTLOOK

79% of small business owners in the UK anticipate business growth in the next 12 months. According to a recent survey by American Express and Small Business Saturday UK, the same percentage of respondents believe their businesses are currently in good shape. Despite ongoing challenges, 64% of small businesses expect better performance in the final quarter of 2023 than in the previous two years.

However, the survey also revealed that running a business has become harder for 35% of respondents, primarily due to inflation and rising costs of goods, services, energy, and fixed costs like business rates and taxes. On a positive note, many small businesses are taking proactive measures to drive growth, with 30% planning to increase sales and marketing activities, 25% aiming to diversify their product or service offerings and 20% planning investments in new technology.

UKEF’S

£6.5BN BOOST FUELS UK BUSINESSES’ INTERNATIONAL EXPANSION

Hundreds of UK businesses, spanning various sectors from clean energy to life sciences, have received £6.5bn in support from UK Export Finance (UKEF) over the past year. This Governmentbacked support has enabled these companies to enter international markets, driving economic growth and contributing to up to 55,000 UK jobs.

UK FINTECH FUNDING DECLINES IN FIRST HALF OF 2023

New data from Innovate Finance reveals a dip in UK fintech funding in the first six months of 2023. Total cash raised by UK fintech firms reached $2.9bn (£2.2bn), marking a 37% decrease compared to the latter half of last year.

The decline in funding has been accompanied by a decrease in investment, with 111 out of 199 deals occurring in the first quarter, accounting for £2bn of the total. This trend aligns with the global decline in fintech funding, as market conditions continue to be unpredictable, and investors shy away from high-growth start-ups.

SURVEY FINDS FOUNDERS MORE FOCUSED ON DRIVING POSITIVE CHANGE THAN 10 YEARS AGO

Entrepreneurs of small to mid-size companies are increasingly focused on driving positive change in their local communities, according to research conducted by the Entrepreneurs’ Organisation. The survey of nearly 500 business owners from 50 countries revealed that 24% believe the entrepreneurial spirit is more widely understood and embraced today compared to a decade ago. Furthermore, 20% expressed a greater focus on driving positive change in their communities than they did in 2013.

The study also highlighted coping strategies for personal stress, with 34% seeking support from peers, 26% engaging in activities like painting or exercising, and 20% confiding in family. Additionally, the research indicated that 18% of respondents plan to shift to AI and automation tools, while 30% intend to hire international talent or improve company culture for remote employees. Almost half of the survey participants (45%) expressed a responsibility to support the next generation of entrepreneurs through mentorships, internships, and investment.

LINKEDIN

23% NO

UK BUSINESSES SLAPPED WITH £13.5M IN FINES FOR DATA MISUSE

The Information Commissioner’s Office (ICO) has ordered eight businesses to pay hefty fines totalling £13.5m in the first half of 2023, as revealed by cyber security and data protection consultancy CSS Assure. Notably, social media giant TikTok received the largest penalty of £12.7m for breaching data protection laws, specifically mishandling personal data of minors. The ICO estimated that approximately 1.4 million children under the age of 13 in the UK had accessed the video-sharing platform in 2020.

The fines also targeted marketing firms for unsolicited calls and spam emails, energy companies for illegal marketing calls, a consultancy for unauthorised SMS messages, and an appliance service company for unsolicited marketing calls. In addition to the fines, the ICO reprimanded 15 companies, issued enforcement notices to eight others, and prosecuted three businesses for failing to meet their information rights obligations.

4% OTHER

73% YES

EUROPEAN COMPANIES COULD UNLOCK £2.5TRN BY CLOSING TECH GAP

European companies have the potential to unlock a staggering $3.2trn (£2.5trn) in additional revenue by 2024 if they bridge the technology gap with their North American counterparts, according to a new report by Accenture. The study emphasises the need for European companies to enhance technology expertise within their boardrooms, accelerate investments in research and development, and capitalise on their strengths in upskilling.

The report highlights that a mere 14.4% of European board members possess technology experience, while countries such as the Netherlands, Ireland, and the UK demonstrate the highest levels of technology expertise. Despite the gap, European firms are focusing on upskilling initiatives, potentially explaining their lower concern regarding a technology skill shortage compared to their U.S. counterparts.

SHOULD HUGE BONUSES, LIKE THE £3.7M AWARDED TO THE BOSS OF BRITISH GAS-OWNER CENTRICA, CHRIS O’ SHEA, BE A THING OF THE PAST?

POLL

UK ECONOMY ON THE BRINK OF A £31BN BOOM

WITH GENERATIVE AI ADOPTION

New research from KPMG reveals that the widespread adoption of generative AI has the potential to inject £31bn into the struggling UK economy. The ‘Big Four’ firm predicts that generative AI could increase UK productivity by 1.2%, equivalent to an additional output of £31bn annually.

Yael Selfin, Chief Economist at KPMG UK, suggests that generative

AI could free up workers, allowing them to dedicate more time to other activities. The report also highlights that around four in ten jobs may be impacted by generative AI, with 10% of occupations facing significant changes.

While generative AI may not eliminate jobs, it could pose transitional challenges for some industries.

EY STUDY REVEALS SURGE IN UK DEAL VOLUMES, BUT INVESTOR CONFIDENCE REMAINS FRAGILE

The UK financial services industry witnessed a significant surge in mergers and acquisitions (M&A) activity, reaching a 10-year volume high of 160 deals in the first half of 2023, according to EY’s latest analysis. This marks a 16% increase from the same period in 2022. However, the total disclosed deal value experienced a decline, plummeting from £11.5bn in H1 2022 to £4.7bn in H1 2023, representing the lowest level since the onset of the pandemic.

Breaking down the sector-specific M&A activity in the UK’s financial markets, the insurance sector saw an increase in the number of deals from 48 in H1 2022 to 54 in H1 2023. However, the total publicly disclosed deal value plummeted from £3.8bn to £16m year-on-year. In the banking sector, there were 39 deals in H1 2023, compared to 35 in H1 2022, but the total disclosed deal value declined from £4.0bn to £3.2bn year-on-year. The wealth and asset management industry experienced a rise in the number of deals from 55 in H1 2022 to 67 in H1 2023, yet the total deal value dropped from £3.7bn to £1.5bn year-on-year.

EUROPE’S SOLAR START-UPS SEE UNPRECEDENTED 398% FUNDING INCREASE

European solar energy start-ups have seen a remarkable surge in investment, with funding levels skyrocketing by 398% compared to last year, according to recent research. In the first five months of 2023 alone, these companies received a staggering $6bn (£4.6bn) in funding. Avnet Abacus, an electronics distributor, analysed Crunchbase data to shed light on the funding landscape in the solar energy sector.

The research unveiled significant trends, revealing that European solar start-ups experienced a 398% increase in total investment, surpassing $6bn (£4.6bn) by the end of May 2023, compared to $1.2bn (£929m) in the same period last year. The average investment in European solar reached an all-time high of $166.1m (£128.6m), surpassing the global and US averages.

Tom Groom, Global Client Services Partner at EY said, “The macroeconomic environment this year has undoubtedly impacted deal value, with a continued reduction in private equity involvement in particular.

“However, the key drivers of M&A – being growth, innovation and synergies between businesses – remain, and as firms develop approaches to deliver M&A in this higher rate environment, we anticipate a return to higher deal values.”

Tom Groom – Global Client Services Partner, EY

DO

LINKEDIN

POLL

GLOBAL FINANCIAL WEALTH DECLINES FOR THE FIRST TIME IN 15 YEARS

6% OTHER 12% NO 82% YES

Global financial wealth experienced its first decline in 15 years in 2022, dropping by 4% to $255trn (£197.5trn), according to the Boston Consulting Group Global Wealth Report 2023. Factors contributing to the decline include rising inflation, increased interest rates, and poor equity market performance amid geopolitical uncertainty due to the Ukraine war. However, a rebound is anticipated in 2023, with

a projected 5% growth to $267trn (£206.8trn).

Notable highlights include a 6.2% increase in personal cash and deposits and a 5.5% rise in the value of real assets. While financial wealth continued to grow in some regions, North America and Europe experienced declines. The report also highlights shifting dynamics in booking centres, with Hong Kong expected to surpass Switzerland as the largest centre by 2025.

MERSEYSIDE MANUFACTURER COMMITS TO JOB CREATION THROUGH STRATEGIC PARTNERSHIP WITH WORKFORCE DEVELOPMENT ORGANISATIONS

Warwick North West, Merseyside’s largest trade manufacturer of windows and doors and a strategic partner of the Liverpool Chamber of Commerce, has joined forces with two separate renowned workforce development organisations, Nobody Left Behind and Inside Connections, in an effort to address the persistent skills shortage plaguing the manufacturing sector.

Nobody Left Behind uses sports to build positive mindsets among young unemployed people, before providing industry-specific skills training in preparation for sustainable and meaningful employment.

Inside Connections, meanwhile, is a community interest company providing support and training for prison leavers and young people at risk of offending, making a positive impact on individuals, families and communities.

John Burton, Founder of Inside Connections, said: “We are proud to be working with Warwick North West on this exciting initiative.

We are dedicated to changing lives by providing opportunities to gain important skills leading to employment, which can play

a significant part in diverting young people from crime and reducing reoffending.”

Through these partnerships, Warwick North West will help support comprehensive training programmes tailored to the manufacturing industry, providing the necessary skills and knowledge required to thrive in the sector.

The company also aims to absorb a significant number of qualified people into its workforce, enabling them to apply their newly acquired skills and contribute to the company’s overall growth.

Warwick North West Director Greg Johnson explains: “Not only are we proactively seeking solutions to the industry’s skills shortage, but we are trying to do it in a way that gives back to the city and community. As an employer, we genuinely care and want to provide employment opportunities to people in the manufacturing and fenestration industry.”

▴ Greg Johnson – Director, Warwick North West

YOU THINK THE JUST STOP OIL PROTESTS ARE DOING MORE DAMAGE TO THEIR CAUSE THAN GOOD?

Roc Nation is an undisputed juggernaut. Since Hip-Hop icon Jay-Z founded the company primarily with the intent of signing pop and rap artists in 2008, Roc Nation has grown into the world’s preeminent entertainment company.

Boasting clients such as Rihanna, DJ Khaled, Jess Glynne, and Alicia Keys, the company announced the formation of a game-changing sports management division, Roc Nation Sports, dedicated to sports representation for professional athletes in 2013. Michael

Yormark was brought into the company a year later, and together, they’ve gone on to revolutionise the world of sports management forever.

Meeting Michael at Roc Nation Sports International’s London HQ, we spoke to him about being a disruptor, taking inspiration from his clients, the importance of leading by example, and much more.

COULD YOU GIVE US AN OVERVIEW OF YOUR CAREER TO DATE?

I remember when I was 12 or 13 years old growing up in Morristown, New Jersey, talking to my identical twin brother, Brett, about what we wanted to do with our life. We both agreed that we’d love to be in sports somehow. My brother ended up taking a very similar career path to mine and he’s currently the Commissioner of the Big 12 college athletic conference. That’s where my passion and focus really started at a very young age.

Fortunately for me, after I came out of graduate school, I was able to get right into the business. I worked for a couple of different sports companies in New York City before I moved to South Florida, to get in on the team side of the business. I had the opportunity to work for the holding company of the Florida Marlins baseball team, the Miami Dolphins NFL team, and the Florida Panthers Ice Hockey team, which was an extraordinary experience. I spent about 20 years working on the team side of the business. I went from South Florida to Columbus, Ohio to start the NHL expansion team. I then went back to work for the Tampa Bay Lightning, and then ultimately returned to South Florida to be the CEO of the Florida Panthers.

After my professional journey on the team side of the business, I then decided to cross over and joined Roc Nation in 2014.

For the better part of the last decade, I’ve been working with Roc Nation out of their headquarters In New York, and here in Europe since September 2019. It was a big shift for me, not only from a job perspective, but it’s been an extraordinary journey. Now I get to work very closely with some of the biggest names in entertainment and sport, and it has truly been a blessing.

YOU DID A GREAT JOB GROWING THE FLORIDA PANTHERS BRAND AND THAT’S WHAT CAUGHT THE EYE OF JAY-Z. HOW DID YOU FIND THE EXPERIENCE OF GROWING A WINTER SPORT IN A WARM CLIMATE?

When you think about South Florida you think about big-time college athletics, such as the University of Miami. You think about the Miami Heat. You think about the Miami Dolphins, the oldest team in the state of Florida with an incredible history. You also have the Florida Marlins (now Miami Marlins), a team that’s won an MLB World Series. So, for the Florida Panthers, the area was a non-traditional market for ice hockey. However, we were a challenger brand. For me, it was a big challenge; how do I help the brand become relevant?

How do we break through and attract new fans, people that had never thought about hockey before the Florida Panthers entered the market in Miami in the mid-90s? The

secret sauce for me, was positioning the Florida Panthers as entertainment, not sport. We were very fortunate to be in an arena that was also very popular for concerts and shows. With some of the biggest artists and events coming through our building, I took a non-traditional sports team and built an entirely different narrative around the club. It had never really been done before and that’s where I met Roc Nation and its leadership.

YOU’VE GOT BIG-NAME CLIENTS AT ROC NATION SPORTS INTERNATIONAL, SUCH AS KEVIN DE BRUYNE, MARO ITOJE, ROMELU LUKAKU, AND SIYA KOLISI. IS THERE AN X FACTOR THAT DRAWS YOU TO AN ATHLETE THAT YOU WANT TO REPRESENT?

We want to associate with great people, first and foremost. Athletes that are truly the best at what they do, but also want to inspire and motivate people. They want to tell their story, they want to impact lives, and, in some cases, they even want to create hope for those that are coming after them. With Siya Kolisi, for example, you think about South Africa and about how he won the 2019 Rugby World Cup as Captain. You think about how inspiring and motivational that was and how he created hope for a nation, those are the types of individuals that we are attracted to, and that, I think, are attracted to us. I would also use the word ‘disruptive’ because we, as a global brand and as a company, are exactly that. We’re not about the status quo. We want to push boundaries and the athletes that we have both on the rugby side and the football side, are very similar. They want to do things differently, and they want to inspire, motivate, change lives, and create hope. If you’re able to accomplish that, then you’re building a legacy.

One of the things we talk to our athletes about all the time is, “how do you want people to talk about you when your career is over?” Also, “what are the opportunities you

“WE’RE NOT ABOUT THE STATUS QUO. WE WANT TO PUSH BOUNDARIES AND THE ATHLETES THAT WE HAVE BOTH ON THE RUGBY SIDE AND THE FOOTBALL SIDE, ARE VERY SIMILAR.”

want to create for yourself when your career is over?” Those are the types of athletes that we try to recruit, and those are the type of athletes that want to be part of our family.

DO YOU FEEL THAT WORKING WITH HIGH-PERFORMANCE ATHLETES GIVES YOU EXTRA DRIVE WITH REGARDS TO YOUR LEADERSHIP?

No question about it. For example, Siya Kolisi is one of the most inspiring individuals I’ve ever met in my life. He got injured a few months ago and the way he’s pushing to be ready for the Rugby World Cup in France is unbelievable. The dedication, the commitment, the understanding that so many people are hoping that he’s there, as the captain of their national team. To see him putting himself through what he’s going through to get ready is inspiring for me. So when I wake up in the morning and think about my morning workout at Jab Boxing Club, I ask myself, “shall I really go to the gym today? Maybe I can sleep an extra hour and a half?” I quickly get out of bed and say, “if Siya Kolisi is doing this, why shouldn’t I do it?”

A lot of our athletes inspire me that way. They drive me to be the best I can be. I’m dealing with it every day. Our company is dealing with very special, very unique, and very gifted people. It’s important that we, in many respects, represent what they represent. I can’t sit down with any of the athletes or clients we work with and tell them what they

should be doing better if I’m not doing it. If I’m not living the same lifestyle, based on commitment, passion, and sacrifice, how can I ask them to do the same? That’s one of the reasons why I get up at four o’clock in the morning and train in the gym every day. So that I can sit at the table with any client and feel comfortable giving them my opinion, as a leader, as a mentor, and as an advisor.

MANY LEADERS FIND THEMSELVES GETTING FRUSTRATED WITH THE TEAM AROUND THEM FOR NOT BEING AS HIGH-PERFORMING AS THEM, AND NOT THINKING IN THE SAME WAY AS THEM. IS THIS SOMETHING YOU’VE FOUND WHILE BUILDING YOUR TEAM AT ROC NATION?

I think we all have that frustration at times. We want everyone around us to be like us, but that’s not reality. You want to have different types of people in every company. You want diversity. Just because somebody perhaps is a little quieter, and doesn’t have as much outward passion, it doesn’t mean that they’re not as committed the same way. We have to try to pull the best attributes out of every employee we possibly can. We talk about “team first” at Roc Nation.

In a team, you’re going to have star players on a team, and you’re going to have some role players. Those role players may not have the same skillset or the same DNA as the

star players, but they’re very important for the overall success of the team. We have some star employees here, and we also have some outstanding role players. Those role players are as important as the stars because they play an important part in the overall success of the company. While it is frustrating at times that everyone may not be on the same page all the time, as a leader we have to accept that. I had to learn that throughout my career.

WHAT MAKES A GREAT BUSINESS LEADER TO YOU?

I’ve worked for a lot of leaders in my career and worked for a lot of different companies, and as I reflect on the leaders that I had the opportunity to work for, those that I admired the most are individuals that lead by example. Leaders that were doers, not talkers. Leaders that took accountability. Leaders that had an open-door policy, and that also didn’t expect everyone to be like themselves. That ultimately creates a winning culture for any organisation.

I send out a good morning message to every staff member every day. I use that as the first opportunity to inspire. I want every single staff member when they get up in the morning to see my message, read it and be inspired, be motivated, and I want them to want to achieve greatness every day. 

ON THE WRONG SIDE OF THE BRAIN DRAIN

IS THE UK AT RISK OF LOSING ITS SKILLED WORKFORCE?

The UK Government remains focused on immigration while ignoring that many Britons are leaving the country. Brain drains are rampant in developing countries where the economy is unstable, but is the UK also at risk?

Whether it’s a broken property market or a cost-of-living crisis or a Government that changes every two minutes, things don’t look great in the UK. With net immigration on the rise, any brain drains that occur will likely be industry specific.

HIGH-TAX, LOW-WAGE BRITAIN

The UK is feeling the effects of the cost-of-living crisis more keenly than other countries, with food price inflation at a 40-year high. The rise in remote working is a major factor in young professionals leaving the UK, but for many, skyrocketing inflation has been the tipping point.

Another big negative is the lack of funding for venture and growth stage businesses, which means they’re lacking the resources to hire, according to Alan Furley, Co-Founder & CEO at ISL Talent

“Funding across Europe has dropped so the UK isn’t alone in this challenge, but we’ve lost the big lead we had, meaning increased competition from countries like Germany and France.

“Brexit is another big factor. A few years back, one of my team realised that 13 of his last 14 hires wouldn’t have been eligible to work here once we left the EU – even though that’s not replicated across the market, the UK always relied on mobility in Europe to fill our talent pool,” he adds.

Alban Gérôme, Founder and Cybermetrics Implementation

Lead, reveals how some countries offer higher wages to attract talent.

“In this field, Germany and the Netherlands have been facing unique talent sourcing issues, which have resulted in salaries 20% higher than the salaries offered in the UK,” he says.

INFLOWS...

People come, and people go. But lots of people go.

According to the latest ONS statistics, 1.2 million people migrated into the UK and 557,000 people emigrated from it, resulting in a net migration figure of 606,000 as of the end of June 2022. Immigration decreased between 50 - 60% between 2019 and 2020, though some caution is advised when interpreting data collection around the pandemic.

If the UK is to become the ‘science superpower’ the Government wants it to be, then it must do more to support training and education in STEM and redesign the visa system to attract more international talent, according to a new report by the Campaign for Science and Engineering (CaSE).

The shortage of STEM skills is an ongoing problem and is estimated to cost the UK economy £1.5bn per year, the report notes. In 2021, the Government acknowledged that the R&D sector will need at least an additional 150,000 researchers and technicians by 2030 if the country wants to realise its ambitions. The same year, the Institution of Engineering and Technology estimated a shortfall of over 173,000 workers in the STEM sector.

According to the latest Hiring Trends Index report, over one-third (37%) of businesses reveal they are struggling to find the right people, with a quarter (25%) of businesses reporting lengthy times to hire as a top concern this quarter. In order to combat this, 35% of businesses are upskilling their staff, while over a quarter (29%) have increased salaries and/or bonuses.

When it comes to sourcing externally, over one in ten employers (11%) are looking overseas to find the talent they need, with this rising to 25% in social care and 19% in medical & health services. Despite the recent focus from the Government on re-engaging

candidates who have recently left the workforce, only 12% of businesses attract older/retired workers back into their business.

According to Julius Probst, Labour Economist at Totaljobs, 33% of resignations between Jan-April were driven by employees seeking higher pay.

... AND OUTFLOWS

The labour shortage is exacerbated by reduced net migration. According to the OECD, 50% of firms are having difficulty recruiting new workers, while one in five have problems retaining staff. Although some shortages are due to economic restructuring, according to a report by De Lyon and Dhingra, 10% of companies say that the UK point-based immigration regime is to blame. More than 557,000 people emigrated from the UK in 2022, and official figures show that the number of adults leaving the UK has steadily risen over the past decade.

While inflows have received the most headlines, Britain must look at outflows as well. Moving abroad is starting to appeal to more and more workers, notably the most highly skilled in London, as wages in the UK stagnate and costs rise. Countries are encouraging workers to escape the broken-Britain blues. The capital of EU member Lithuania is offering to cover relocation costs of up to €3,000 and says its rental prices are two-thirds more affordable than in London.

As of January 2021, EU citizens (except Irish) were subject to the same points-based immigration system that applies to non-EU members. Studies from the ONS indicate that EU net migration was negative in 2020, with approximately 94,000 more people leaving, rather than arriving in the UK.

MEDICINE AND SCIENCE

With the Government holding out on demands for pay rises, doctors are heading overseas. A study by Nuffield Trust, an independent health think tank, showed 1 in 10 health workers quit their jobs in the 12 months prior to June last year. Consequently, the NHS is facing severe staff shortages and burgeoning waiting lists for critical medical services.

Furthermore, the General Medical Council (GMC) reports that 6,950 UK doctors filed for a certificate to work overseas last year, up from 5,576 in 2021. More than half of the doctors who have left the UK are still employed abroad, with one in six moving to Australia, according to a GMC poll.

Despite recent progress with Brussels, Rishi Sunak is refusing to back Britain’s re-entry into Horizon Europe, the EU’s multiannual framework programme for research and innovation for the years 2021 to 2027, causing unease amongst leading scientists. What is being done to counteract this exodus? The Business Secretary announced up to £484m in research funding to support the R&D sector, but will this be enough?

A POSITIVE SHIFT

“Despite a falling number of vacancies, hiring is continuing and the number of employees on a payroll showed another monthly increase in March 2023 – reaching 30 million. Meanwhile, the total number of people in employment is 32.9 million,” says Probst. The main reason behind the increase in labour force participation has been the rise in the cost of living. The increase in employment over the latest three-month period was largely driven by part-time employees and self-employed workers.

“FUNDING ACROSS EUROPE HAS DROPPED SO THE UK ISN’T ALONE IN THIS CHALLENGE, BUT WE’VE LOST THE BIG LEAD WE HAD, MEANING INCREASED COMPETITION FROM COUNTRIES LIKE GERMANY AND FRANCE.”

Alan Furley Cont. 

Tough economic conditions can present entrepreneurs with unique opportunities. There are plenty of huge companies that started during a recession, including Wilko, PC World, and Sipsmiths. Globally, half of all Fortune 500 companies began during a crisis. Furley notices a change in the air.

“Last autumn, a couple of people told me that they were fearful of launching businesses in the UK because of the Truss/Kwarteng political uncertainty. However, at this year’s London Tech Week, it felt there was more interest than ever in building in the UK.

“So hopefully Rishi Sunak’s visible support for the tech sector is making a difference, although the Government funding in areas like climate, AI, and quantum computing looks low when compared relative to the EU and US figures,” he warns.

OPENING UP

Reducing immigration is making headlines, but many non-UK citizens have emigrated to the UK to start businesses. We can’t afford to lose these innovators.

“Not many founders I speak to understand the way they can use visas to hire the talent they need, but this is an area you can argue has the potential to help bring the best talent to the UK.

“Options like Scaleup, Global Talent, and High Potential Visas can help access the vital people we need to

ALIGN YOUR BRAND WITH THE UK’S VOICE FOR BUSINESS

Business Leader will connect you with the entrepreneurs who are the UK economy’s energy and heartbeat via print magazine, our virtual and live events network, and digital opportunities.

help the UK compete – but only if routes are clear and red tape reduced,” advises Furley.

Rishi Sunak may discover that his commitment to cut net immigration from more than 500,000 people a year is more than possible - but not in the way he hoped.

The UK has long relied on luring professionals away from the developing world with promises of better salaries and working conditions. Now conditions must improve at home. Otherwise, the UK may experience what it is like to be on the wrong side of the brain drain. 

41% NO

59% YES

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Simon Cooper Partner

THE TRIALS,

TRIBULATIONS AND TRENDS OF TRAVEL AND TOURISM

The Covid-19 pandemic forced us to reimagine travel as we knew it and make do with the ‘staycation’. But when we embraced the lack of international travel, the opportunities for campsites, B&Bs, hotels, and a multitude of other businesses up and down the country were significant, and the domestic businesses that have been able to adapt and remain agile are thriving.

Not everyone enjoys camping, for example. But, when scientists proved that we were less at risk of exposure to Covid-19 in nature, a slight change to the business model was all that was needed for many sites to invest in pods, shepherd’s huts and even converted shipping containers. Glamping brought in a different section of the consumer market.

A bi-product of pandemic ‘germaphobia’ has been the growth of touchless technology, allowing people to access menus, activate lifts, gain entry to their rooms, etc, on their phones. Of course, technology is here to stay and hotels have to be hot on these trends in the digital age.

But, while the bigger players in the market can afford such investment, how will the smaller businesses remain ‘current’ when costs are such an issue?

Organisations must return to what they have sight of when making business decisions and this reinforces the power of information. For example, there are hints at occupancy growth –a recent PWC report forecasts growth in the hotel sector in the Capital this year, but businesses across UK regions must pay a little more heed.

We’ve said it before – and PWC’s report reiterates it – that ‘cash remains king’ in the current climate. Now more than ever, cash management of what’s coming into your business and qualifying it against outgoings is crucial for a steady balance sheet, especially as those wanting to invest may find that financing is more expensive, given higher interest rates.

Monahans works with a large number of SMEs in the travel and tourism sector. For advice on the latest in the market or to discuss your business’s next steps, get in touch today.

T: 01793 818300 simon.cooper@monahans.co.uk

We only have one goal at Monahans: to help you achieve your tomorrow. Your success is our ambition.

DOUBLE DUTCH'S AMBITIOUS GROWTH STRATEGY BACKED BY £4M INVESTMENT

EMPLOYEE ENGAGEMENT PLATFORM SECURES £6.2M INVESTMENT

Milton Keynes-based, WorkBuzz has successfully raised £6.2m in a funding round led by YFM Equity Partners. The round also saw participation from existing investors Mercia and Foresight Group, utilising funds from the Midlands Engine Investment Fund (MEIF). With this fresh capital infusion, the company aims to expand globally, enhance sales, and marketing efforts, and introduce new technological innovations to serve its growing client base.

Founded in 2018 by employee engagement expert Steven Frost, the company has experienced remarkable growth, nearly doubling in size annually. Currently, the platform serves over 400 organisations, including renowned names like Five Guys, Shell Energy, and HS2. This marks the third funding round supported by Mercia and Foresight, who have been backing WorkBuzz since 2021 through MEIF funding.

Renowned producer of mixers and tonics, Double Dutch, has successfully concluded its latest funding round, attracting an impressive £4m investment. This announcement comes on the heels of the brand's remarkable 63% growth in distribution over the past year. The company's founders, Raissa & Joyce de Haas, are confident that the newly secured funds will fuel their expansion plans in the UK, allowing them to strengthen their sales team and drive further growth in export markets.

The company has set its sights on the Benelux region, its secondary home market, along with the UAE, and is even considering venturing into the APAC region. To fortify its presence in the UAE, the company has appointed Benita Bohsali, a seasoned professional with a background in supporting prominent businesses like MMI, Red Bull, and Heineken, as the Head of International Growth.

KEEP UP TO DATE WITH THE LATEST FUNDING NEWS

Advanced materials company, Material Evolution, has secured £15m in Series A funding to propel the production of its revolutionary low-carbon cement. This innovative cement boasts an impressive 85% reduction in carbon footprint compared to traditional Portland cement. The funding round was spearheaded by KOMPAS VC, an early-stage venture capital firm dedicated to decarbonising the built environment and manufacturing industry. Joining the round were Norrsken VC and CircleRock Capital, alongside existing institutional investors, such as Playfair Capital, At One Ventures, SkyRiver Ventures, and HG Ventures. Co-founded by Dr Elizabeth Gilligan and Sam Clark, Material Evolution has developed a game-changing low-energy, low CapEx manufacturing process that employs zero heat, addressing the high CO2 emissions associated with conventional cement production.

MATERIAL EVOLUTION SECURES

£15M SERIES A TO REVOLUTIONISE LOW-CARBON CEMENT

▴ Members of the Material Evolution team

▴ Raissa & Joyce de Haas, Co-Founders of Double Dutch

▴ The WorkBuzz team

GAME-CHANGING PLATFORM RAISES NEARLY £6M TO FUEL SME GROWTH

FundMyPitch (FMP), a platform connecting investment-ready companies with investors, has achieved a significant milestone by raising £5.77m in funding for entrepreneurs within its first year of operation. Founded by entrepreneur Steven Mooney in 2022, FMP has experienced rapid growth, boasting 3,460 registered users, including 941 businesses seeking investment and 2,519 investors.

FMP’s success is attributed to its innovative video pitch model, enabling entrepreneurs to create compelling content to attract investor interest. With a focus on early-stage opportunities and a commitment to facilitating successful deals without upfront fees, FMP utilises advanced AI algorithms, an intuitive user interface,

BRITISH BUSINESS BANK ANCHORS MERCURI’S £50M FUND

TANDEM BOLSTERS GROWTH AMBITIONS WITH £20M CAPITAL INJECTION

Tandem, the UK-based purpose-led digital banking platform, has successfully secured £20m in Tier 2 capital from growth investor Quilam Capital, known for its expertise in the speciality finance sector. This investment further strengthens Tandem’s growth trajectory as it continues its mission to build a profitable and environmentally conscious banking platform. The capital raise, which concluded in late June 2023 with the assistance of financial services advisor Alantra, reflects Tandem’s commitment to helping households reduce their carbon footprint and supporting the country’s transition to a carbonneutral economy.

INTEGRUM RENEWABLE ENERGY GAINS MOMENTUM WITH MAJOR PE INVESTMENT

Mercuri, an early-stage media technology investor formerly known as GMG Ventures, has successfully raised £50m for its second fund from institutional investors. The British Business Bank, through its Enterprise Capital Funds (ECF) programme, has made a significant cornerstone investment. Leveraging their sector expertise in the convergence of media and technology, Mercuri’s new fund aims to support UK-based start-ups that are revolutionising traditional media models with artificial intelligence.

The fund’s focus is on technology-enabled products in the creation, distribution, consumption, and monetisation of content and data. Mercuri plans to make up to eight new investments annually, prioritising data governance and AI safety among its portfolio companies as a certified B Corp and Co-Founder of VentureESG.

UK-based Solar PV and Battery Storage developer, Integrum Renewable Energy Ltd, has received an investment from private equity firm Omnes, facilitated by the corporate team at independent law firm Burges Salmon. Omnes, dedicated to energy transition and innovation, has acquired a majority stake in Integrum through its Capenergie 5 fund, the latest renewable energy private equity fund. Omnes plans to deploy £150m of equity to further its advancement in the UK renewable energy sector, leveraging its existing pipeline of 2GW of utilityscale solar and battery energy storage systems. With a target operational portfolio of 1GW+ and a multi-GW pipeline, Integrum aims to become a fully integrated Renewable Independent Power Producer (IPP). The Burges Salmon team, led by Partner Jonathan Eves, supported Integrum Renewable throughout the transaction.

and strategic partnerships with financial institutions, venture capital firms, and start-up incubators.

▴ Senior members of the Mercuri team

▴ Steven Mooney, CEO at FundMyPitch

◂ Jonathan Eves, Partner at Burges Salmon

RAISING CAPITAL OUTSIDE THE CAPITAL

THE CHANGING LANDSCAPE OF INVESTMENT IN THE UK

Along with New York, London is in a category of its own. While other areas of the UK are developing and more businesses are setting up outside of the capital, does a London-centric bias still exist?

SHARE THE WEALTH

Growth is starting to spread across the country, rebalancing years of economic imbalance, which has seen growth in London and the South East outpace the rest of the country. Strategies focus on regeneration, levelling up, and as the Chancellor put it in his Spring Budget –realising the “significant untapped growth potential in the UK’s cities outside London.”

CAPITAL GAINS

Firstly, London’s position at the centre of the UK’s tech economy is safe. A new report by the Startup Coalition found 8 of the top 10 constituencies for technology were based in the capital. However, Manchester, Oxford, Cambridge, Edinburgh, Bristol, and Leeds have all become major players in the UK tech sector, each producing their very own unicorns.

Professor Ian Goldin, author of The Age of The City, thinks London will continue to capture the lion’s share of new capital and investment in Britain. Otherwise, locations boasting R&D institutions and leading universities will come up trumps.

“As generative AI accelerates the transformation of the economy towards more knowledge-based services and

Brexit accelerates the decline of traditional manufacturing, the advantages of London will grow,” Goldin says.

“In the intensifying war on talent, particularly for globally mobile, highly skilled people, who are at the forefront of new technologies and the accompanying legal and financial services, the cosmopolitan attractions of London are advantageous, particularly for young people.

“Elsewhere, it is the clusters around cutting edge research in great universities and places with deep expertise in new materials and health applications who are likely to be successful in raising capital.” he adds.

TRAILBLAZER DEALS

The Government is going for growth. A Department of Business and Trade (DBT) spokesperson said:

“The Government is committed to encouraging private investment across the UK as we strive to level up the country, grow regional economies and create more highly skilled jobs.”

“THE GOVERNMENT IS COMMITTED TO ENCOURAGING PRIVATE INVESTMENT ACROSS THE UK AS WE STRIVE TO LEVEL UP THE COUNTRY, GROW REGIONAL ECONOMIES AND CREATE MORE HIGHLY SKILLED JOBS.”

Department of Business and Trade spokesperson

Results are already visible around distributing business opportunities and prosperity more evenly throughout the UK. The latest Rebuilding Britain Index (RBI), The Great British Migration, which tracks the UK’s social and economic progress against 52 measures on a quarterly basis, found that relatively little separates the UK regions and nations, with London achieving the highest RBI score (66/100) and Wales the lowest (62/100).

Levelling up strategies will further reduce regional disparities. A Levelling Up white paper from last year included trailblazer deals with Greater Manchester’s and West Midlands’ Combined Authorities, aiming to increase the current levels of devolution.

The Government’s promise was reiterated in the Spring Budget, which included these regions as a component of the growth initiative.

“Recent EY data showed that the UK is second only behind France as a top European investment destination. All parts of the country are benefitting from our support, with London remaining the number one location for inward investment, closely followed by Manchester, Edinburgh and Birmingham,” added the DBT spokesperson. Both sub-regions will have more authority over local transit, skills, jobs, housing, innovation, and net-zero priorities thanks to the agreements. Additionally, they will be given single financial settlements at the upcoming spending review, similar to those given to Government departments.

CapEQ Partner Doug Edmunds thinks the economic climate and fear of uniformity is dampening deals everywhere.

“The recent economic turbulence has made investors much more cautious since

these figures were compiled. While private equity funds are still very active, we are hearing that VCs are growing concerned that mainstay sectors, such as fintech and SaaS start-ups and scale-ups, lack differentiation in often saturated markets,” he says.

RAISING CAPITAL OUTSIDE THE CAPITAL

Danny Brewster, CEO and Co-Founder of twentyone believes there is still much life in the city.

“London’s fintech scene attracted $10.2bn in investment in 2022. When you consider the total amount raised for fintech businesses across the whole of the UK was only $12.5bn, then you begin to see the scale of London’s continued dominance in this area, which has been built up over many years.

“WHILE PRIVATE EQUITY FUNDS ARE STILL VERY ACTIVE, WE ARE HEARING THAT VCS ARE GROWING CONCERNED THAT MAINSTAY SECTORS, SUCH AS FINTECH AND SAAS START-UPS AND SCALE-UPS, LACK DIFFERENTIATION IN OFTEN SATURATED MARKETS.”

Doug Edmunds

“Historically, it’s been harder to raise capital outside of London, but I think that is beginning to change. Perhaps it’s a case of a rising tide lifting all boats, but we’re starting to see increased interest in businesses in other parts of the UK. I think the emergence of genuine fintech hubs like Manchester, Birmingham and Leeds has massively helped here,” he adds.

Tim Mills, Managing Partner at ACF Investors, thinks London remains the centre, but it’s apparent that the landscape for investment across the country has improved. He outlines four circumstances that have brought about this change.

“Firstly, Covid-19 and lockdowns shrank the planet (at least in peoples’ minds) and reduced the concerns about investing remotely, so investors are more willing to invest around the country (and not just in the regions they are based).

“Secondly, there is just a lot more venture capital around (more money, more funds, more investors) so not only is there more competition to find great founders and businesses. Thirdly, more of those funds are dotted around the country; and finally, talent has always been widely spread but founders across the country have discovered they don’t have to travel to London to get funding and can often build businesses more efficiently in lower-cost centres,” he says.

There is no denying the magnetism of London for high-growth companies. It is still, and will remain, the UK epicentre for tech talent and capital, according to Andrew Noble, Partner at Par Equity

“Having said that, with growth in the number of tech companies being launched across the UK, what we are seeing in the data is the north of the UK starting from a “low base” to now being in receipt of further funding from London-based venture capitalists seeking quality deals at sensible valuations in other parts of the UK,” he says.

Noble, along with hundreds of others, realises the lure of the land north of London.

FAIR GEOGRAPHIC SPREAD ACROSS THE UK

Real levelling up is on the horizon thanks to new funding control authority granted to Greater Manchester and the West Midlands. Regarding this, Manchester received £532m last year, (marking an astounding 50% yearover-year increase), Noble reminds us to review these amounts with caution.

“It’s easy to get carried away by the headline numbers, but let’s remember that of the £532m, roughly £250m was invested into three companies in Manchester – Be.EV, Freedom Fibre, and Modern Milkman. So, the increase has largely been driven by these outliers. However, the trend is moving in the right direction, and this is true of other regions in the north of the UK. For example, tech funding in Scotland was up 37% in 2022 to record levels,” he says.

According to Mills, it is the result of a cumulative effect.

“Every ecosystem needs a certain critical mass to scale and Manchester’s growth in recent years has helped drive further expansion (talent attracts investors and capital crowds in talent). We are also starting to see some proper growth rounds (not just

seed of early-stage VC funding) really kick in and drive the numbers up,” he says.

According to the RBI, across the whole of the UK, as many as 19% of people are planning to relocate to a different part of the UK within the coming year, and in London, the figure reaches 35%. Noble reveals higher education institution funding as an explanation for this exodus:

“One of the reasons for the underlying trend is the growth of funding for university spin-outs right across the UK, and, as it happens, the north of the UK is blessed with an outsized number of universities which are deemed too world class for their research and innovation, and this is the potential bedrock for future tech success in this part of the UK.”

Regarding Manchester’s windfall last year, Brewster says:

“It’s an amazing statistic, which underlines the growth that the city’s fintech scene has seen in recent times. I can speak about the city’s appeal first-hand, as I decided to launch twentyone, a financial services provider here recently, inspired by Manchester’s affordable business leases,

“I THINK THE EMERGENCE OF GENUINE FINTECH HUBS LIKE MANCHESTER, BIRMINGHAM AND LEEDS HAS MASSIVELY HELPED HERE.”

Danny Brewster

its deep tech talent pool and its culture of hard work and creativity.

“Much like the city we now call home, our team greatly values responsibility, honesty, and transparency. Ultimately, I think that’s the case for a lot of businesses here, who see the importance of launching in a city they feel truly aligned with. This combination leads to great businesses, which invariably end up attracting investment.”

Brewster, while acknowledging London’s recent lull in funding is quick to point out how well the city did compared to other global cities.

“All in all, London suffered a 5% dip in funding levels last year, but it still outperformed many other major cities around the world amidst a major slump. More broadly, the UK still receives more investment in fintech than all the next 10 European countries combined and is only second in the world to the US.”

MANCHESTER REIGNING CHAMPION

In cities like Sheffield, Manchester, and Birmingham, metro mayors have not only pushed for urban renewal but are also enhancing connectivity, bringing together

local governments, and opening up additional chances for regional economic and social growth. Brewster thinks Manchester recognised the success of London’s fintech scene and wanted to replicate that but in an authentic way.

“The city has made use of distinct advantages over London, such as lower business leases to attract companies who may have otherwise felt compelled to start up in the capital.”

Undoubtedly, cost has been a major contributor to this shift, but there are many other factors at play.

“Tech start-ups need solid talent pipelines, support from local authorities and a deep network of like-minded individuals and organisations to grow. Manchester ticks all those boxes, plus it’s also a great city to live and socialise in. The city is now full of intelligent entrepreneurs, fast-paced start-ups, innovators, and hyper-growth businesses, all of whom are looking to be the next big thing,” adds Brewster.

Edmunds thinks it’s no surprise to see more backing for North West businesses.

“Manchester has some exciting early-stage SMEs in the adtech, edtech, and fitness app markets with strong disruptive potential,” he adds.

IS LONDON LOSING IT?

Undermining London is not the answer to Britain’s problems – that will result in levelling down, weakening national competitiveness.

LINKEDIN POLL

17% YES 83% NO

“London is not ‘losing it’. People don’t realise that the north of the UK is now a one trillion-dollar economy. That’s the equivalent of the 8th largest country in Europe and the 20th largest country in the world. Key to the success for northern tech will be in its ability to attract the necessary scale-up capital and talent to build global category leaders,” says Noble.

“With the confluence of a rich engineering and manufacturing heritage across the north of the UK, and growing venture capital appetite for climate tech and health tech solutions, I expect to see some hugely successful companies in these areas being built in this part of the UK over the coming 5-10 years,” he adds.

London is still the largest market by some margin, but Mills points out that the opportunities for businesses and founders outside the capital will continue to improve as success spreads.

“The key for any centre is having the pool of skilled people, capital, access to customers, and entrepreneurial energy,” he adds. Brewster doesn’t think London is becoming substandard, rather he thinks other tech hubs like Manchester are catching up to its heights. As the old Irish saying goes, ‘it doesn’t matter where you are, there you are.’ Revolutionary ideas can come from anywhere.

“Funding is down worldwide, particularly in the fields of tech and fintech, but I still believe the cream always rises to the top. Whether you’re in London or not, a gamechanging idea is a game-changing idea and will always attract investors,” he adds.

Let’s wait and see if promises to ‘level up’ Britain’s forgotten regions come to fruition. Currently, with little progress in closing the gap between London and the rest of the country, the capital’s position within the UK won’t be seriously challenged overnight. Though it will have to work harder to maintain its position. 

IS ENOUGH BEING DONE TO ENCOURAGE INVESTMENT OUTSIDE OF LONDON?

“LONDON IS NOT ‘LOSING IT’. PEOPLE DON’T REALISE THAT THE NORTH OF THE UK IS NOW A ONE TRILLION-DOLLAR ECONOMY.”

Andrew Noble

TATA COMMUNICATIONS ACCELERATES GLOBAL GROWTH WITH KALEYRA ACQUISITION

DEAL VALUE: $100M (£77.8M)

Global digital ecosystem enabler, Tata Communications, has announced its definitive agreement to acquire Kaleyra, Inc. This strategic move aims to empower enterprises worldwide to deliver personalised experiences to their customers. Kaleyra is a leading omnichannel integrated communication services provider, offering targeted personalisation through messaging, video, push notifications, email, voice-based services, and chatbots.

With this transaction, Tata Communications gains access to Kaleyra’s proven platform, enhancing its capabilities and scale. Kaleyra’s strong presence in the banking and financial services,

KEEP UP TO DATE WITH THE LATEST M&A NEWS

WASSERMAN ACQUIRES SQUADRA SPORTS TO ESTABLISH WASSERMAN CYCLING

DEAL VALUE: UNDISCLOSED

Global sports, music, and entertainment agency, Wasserman has made a significant move in the world of cycling with the acquisition of Squadra Sports Management. The practice has now been rebranded as ‘Wasserman Cycling,’ as announced by Travis Clarke, Executive Vice President of Action Sports & Olympics. As part of the acquisition, Dries Smets, the Managing Director of Squadra, has joined Wasserman as Senior Vice President of Cycling, along with all former Squadra employees.

The impressive roster of Squadra Sports includes top riders with multiple Monument wins and Road World Championships. This acquisition further strengthens Wasserman’s presence in cycling, complementing their previous investments, such as the Circuit Racing International Tour (CRIT) partnership.

retail, and digital commerce industries across global markets further strengthens Tata Communications’ position. The cashonly acquisition is valued at approximately $100m (£77.8m), with Tata Communications assuming all outstanding debt. Tata Communications is advised by Lazard Frères & Co. LLC, while Kaleyra is represented by Willkie Farr & Gallagher LLP as its legal counsel.

CORLYTICS TAKES THE LEAD IN REGTECH INNOVATION THROUGH CLAUSEMATCH ACQUISITION

DEAL VALUE: UNDISCLOSED

Dublin-based financial services software company, Corlytics, has announced its acquisition of Clausematch. This marks Corlytics’ second acquisition this year, positioning the company to manage the complete regulatory risk value chain globally. By combining Corlytics’ proven intelligent regulations and regulatory data with Clausematch’s expertise in creating and mapping intelligent regulatory documents, the acquisition represents a significant breakthrough for the RegTech industry.

As part of the deal, Clausematch Founder and CEO Evgeny Likhoded

will assume the role of President of Corlytics, focusing on strengthening partnerships with major banks, insurers, and payment companies. The acquisition brings Corlytics’ client base to 80, including 14 of the world’s top 50 banks. John Byrne will lead the enlarged group as CEO, responsible for driving the company’s vision, growth strategy, and profitability.

▴ (L-R) Troy Reynolds, Chief Legal & Compliance Officer at Tata Communications, Mysore Madhusudhan, EVP Collaboration and Connected Solutions at Tata Communications, Tri Pham, Chief Strategy Officer at Tata Communications, Kathy Miller, Director Board Member at Kaleyra, Dario Calogero, Founder and CEO at Kaleyra and Dr. Avi Katz, Chairman of the Board of Directors at Kaleyra

▴ (L-R) John Byrne & Evgeny Likhoded

ZEUS GROUP BOOSTS MARKET PRESENCE WITH JAMES HAMILTON GROUP ACQUISITION

CARLYLE ACQUIRES MAJORITY STAKE IN LEADING SUSTAINABILITY FIRM ANTHESIS

DEAL VALUE: ENTERPRISE VALUE RUMOURED TO BE £400M

DEAL VALUE: UNDISCLOSED

Irish-owned packaging solutions business, Zeus Group, has announced the acquisition of Northern Irish print and packaging company, James Hamilton Group. James Hamilton Group boasts €18m (£15.4m) in annual sales and a dedicated team of over 120 employees. This strategic move aligns with Zeus Group’s 2023 growth strategy, aimed at surpassing group revenues of €500m (£427.2m).

The acquisition strengthens Zeus Group’s position in the food and retail packaging sector, enabling enhanced product offerings, operational efficiencies, and local manufacturing expertise in printed packaging. With its expertise in retail food packaging, food sleeves, cartons, and advanced label production, James Hamilton Group significantly enhances Zeus Group’s ability to cater to the needs of customers in the food, beverage, and retail industries.

Global investment firm, Carlyle, has announced its acquisition of a majority stake in Anthesis, a prominent sustainability advisory and solutions company. The deal sees Carlyle partnering with Anthesis’ employee shareholders, while existing shareholder Palatine retains a minority stake. The financial terms of the transaction remain undisclosed. With over a decade of experience, Anthesis has become a leader in delivering impactful sustainability, ESG, and net zero programmes for more than 4,000 clients worldwide.

The B Corp-certified company operates with a team of over 1,250 specialists across 39 offices in 22 countries. Carlyle’s investment through its Carlyle Europe Partners (CEP) platform will support Anthesis in expanding internationally, diversifying its service offerings, and continuing its successful M&A strategy.

This move highlights Carlyle’s commitment to addressing critical ESG issues and driving effective decarbonisation strategies across its investment portfolio.

LIMBS & THINGS EXPANDS PORTFOLIO WITH EOSURGICAL ACQUISITION

DEAL VALUE: UNDISCLOSED

Bristol-based medical task trainer specialist, Limbs & Things, has made a significant acquisition by purchasing laparoscopic surgical trainer and software specialist, eoSurgical. eoSurgical is renowned for its technology-driven approach and self-directed learning solutions in laparoscopic surgery. This deal allows Limbs & Things to integrate eoSurgical’s products into its existing lineup of laparoscopic trainers, expanding its offerings in the market.

Developed by consultant surgeons Roland Partridge, Paul Brennan, and Mark Hughes, eoSurgical’s simulators are widely used in over 90 countries, including the Royal College of Surgeons Improving Surgical Training Programme in the UK. The portable simulators and user-friendly software make it convenient for training in

departments,

various settings, including simulation environments, operating

or even at home.

▴ (L-R) Nick Hull, Managing Director of Limbs & Things, and Roland Partridge, Co-Director of eoSurgical with eoSim.

▴ (L-R) Alan Hamilton, Director at James Hamilton Group, Brian O'Sullivan, Founder of Zeus, and Keith Hamilton, Managing Director of James Hamilton Group

FROM TOXIC WORKPLACE TO BEST EMPLOYER BREWDOG’S ASTONISHING TURNAROUND

A crisis is a sliding doors moment for any business. A reputation built up over decades can be destroyed in hours by a botched response to a major issue.

Controversy is nothing new to BrewDog. Since its establishment in 2007, the self-described “Punk” of beer brewers have intentionally stirred the pot with shock strategies and as much profanity as possible.

PUNKS WITH PURPOSE

Difficult times can give a fresh incentive for companies to consider who they are, what they stand for, and what they hope to achieve. However, going from allegations over abuse of power and rumours of a toxic workplace to landing a place on the Sunday Times Best Place to Work listing is a big jump, even for the most positive of people.

In BrewDog’s case, issues stemmed from internal challenges. Punks with Purpose, a workers’ rights advocacy group striving for change, brought attention to concerns of a toxic workplace, including allegations of

a culture of fear, pressure, and employee harassment.

The company’s rapid development and desire, according to the former workers, had resulted in a disrespect for its employees, making working conditions difficult and unfriendly. Last year, Hand & Heart and Punks with Purpose, launched The BrewDog Affected Workers’ Platform for impacted BrewDog workers to independently register their employment experiences. BBC documentaries and podcasts followed.

CHANGING TIDES

The Aberdeenshire-based brewer began to experience a shift, thereafter, including a pay review, additional resources, and an independent evaluation that consulted all 1,694 employees.

Fast forward to today, and Brewdog is listed among The Sunday Times’ Best Places to Work in 2023. The Top Employers Institute certification assesses companies via an independently audited and fact-based HR Practices Survey, covering Steer, Shape, Attract, Develop, Engage, and Unite.

The list recognises companies that create a happier and more fulfilling working environment, by fostering engagement from their teams, yielding great business and performance in return. That is a far cry from the BrewDog of 2022. What a difference a year can make.

TICK TOCK

Timing is everything when dealing with a crisis. Say and do nothing and you’ll create a vacuum that will be filled with other people’s

“MAKE SURE THE STRATEGY IS BASED AROUND A UNIQUE MISSION ETHOS, FOR EXAMPLE, BELIEVING IN SOMETHING THAT IS UNIQUE TO YOU AND YOUR BUSINESS.”

Matthew Hayes

take on the situation, only adding fuel to the fire.

Matthew Hayes, the MD of Champions UK plc., believes that when dealing with reputational crises, the key to a successful business strategy is consistency. Often when there is bad press, businesses fall into the trap of reacting immediately, which tends to escalate the situation, either by confirming there was a problem or presenting a loss of direction as to what they stand for.

“Make sure the strategy is based around a unique mission ethos, for example, believing in something that is unique to you and your business, and then be consistent in its delivery.

“If a business reacts quickly and in a positive way, the challenge itself can improve the ongoing relationship, as it demonstrates the way in which a business goes about confirming what it’s about and what matters to it,” he says.

HIGHS AND LOWS

Last year BrewDog opened two global flagship bars in Waterloo and Las Vegas, and there is an exciting pipeline of new bar openings, including at Gatwick Airport. They reported record revenues for 2022 and current trading is very strong. Boasting five of the fastest-growing beer brands in the UK, including Lost Lager, BrewDog is now ranked the world’s 14th most valuable beer

brand by Brand Finance, overtaking Carlsberg for the first time. Seems too good to be true...

Jonathan Hemus, Managing Director of crisis management consultancy Insignia and author of the award-winning book, Crisis Proof, thinks that BrewDog was helped in that its values and reputation have always been based on a maverick and anti-establishment approach, meaning that rather than damaging it, many of its ‘crises’ have in fact further reinforced its position as a maverick.

“Similarly controversial behaviour by a staid bank would not have played out so well,” he adds.

When asked about the recent transformation, going from allegations from former employees to Best Place to Work awards, James Watt, BrewDog Co-Founder and CEO, said that life in a fast-paced, high-growth business isn’t for everyone, but BrewDog have always been fully committed to doing the best they can by their people.

“That includes our commitment to paying the Real Living Wage, our unique company-wide profit share scheme, and amazing signature benefits like giving our people time off to look after a new puppy (we call it pawternity leave). Over the past two years, we have continued to invest in our governance, our team’s development, mental health support, progression opportunities and our employee ownership program. We are determined to continue to improve every element of what we do,” he said.

But is it enough?

SUPPORTING START-UPS

Alongside Trigger Happy TV star Dom Joly and professional investor Codie Sanchez,

Watt is putting £5m of his money on the line to help make a success of start-ups in the Next Unicorn competition. 750 keen entrepreneurs sent over their ideas, which was whittled down to 14 to pitch to Watt in person.

Having originally planned to back three out of the five businesses, Watt is now backing all five finalists, including edible bug business Yumbug, and Tallow & Ash with their planetfriendly laundry detergent. He announced that all five finalists will each be taking home a share of his investment – backing an extra two firms who expected to miss out at the contest’s Las Vegas final.

In a world-first, investment is now open via Crowdcube, allowing members of the public to invest in the five winners on the same terms as Watt. Given that hundreds of people applied, it’s clear that many are ready to ignore any current difficulties concerning Watt.

This is a sign that nothing sticks forever and possibly that controversies are more digestible when cash is involved.

INCLUSIVE CULTURE

Whether it’s meaningful change or merely paying lip service depends entirely on who you talk to, but BrewDog has partnered with LGBTQ+ charity MindOut, to help raise awareness of its mental health services and provide access and support to staff and customers.

Lauren Carrol, Chief Marketing Officer at BrewDog, acknowledges there is always more to do:

“We’re not perfect, but we’re committed to making BrewDog a great place to work, and to support LGBTQ communities that many of our employees and customers are a part of.

“Through our partnership with MindOut, we are delighted to support the fantastic work they do in Brighton and beyond. We take inspiration from the work they do as we continue to evolve and develop our DE&I policies to make sure every BrewDog employee and customer feels welcome, safe, and included in our spaces all year round,” she says.

The beer brand has announced that 50p from each sale of the limited edition 4.5% guava-infused pride month lager will go directly to the charity. Given that BrewDog’s culture seemed to slowly sour like beer left outside on a scorching day, any good associations are welcomed.

MEANINGFUL CHANGE

Crisis situations are catalysts for meaningful changes and can position companies in a much healthier place to deal with problems going forward.

Martin Calvert, Marketing Director at ICS, points out that often the most effective strategies are the ones that involve doing hard work in the right way. If there is fundamentally no change, then ‘astroturfing’ reputation will not help and the difference between the public story and the real situation will be even more damaging.

Watt published an open letter to the brewery’s ‘haters’ after the company was named on The Sunday Times’ Best Places to Work 2023 list. The letter, published on LinkedIn, was addressed to “the small group of individuals who seem to have made it their life’s work to take down our company.”

Calvert raises this approach as possibly problematic when repairing reputations.

“In order to equip PR professionals to do their jobs well, there has to be actual meaningful change and a story that isn’t easily punctured. With BrewDog, it feels like there are still some risks given the borderline aggressive tone used by company representatives when the topic of their reputation comes up,” he says.

No one wants to endure a crisis but, ironically, they provide a catalyst for positive change that less dramatic circumstances rarely do.

LEGAL IMPLICATIONS

When transforming reputations from bad to brilliant, Ashley Hurst, Partner at Osborne Clarke, says that a good corporate reputation has all sorts of advantages from a legal perspective.

“It means that the media will be more sceptical over damaging allegations and the company will find it easier to establish relationships with key stakeholders, including regulators.

“From a litigation perspective, it’s easier to take the moral high ground when coming from a position of reputational strength. Conversely, threats of legal action from a company that is on the ropes from a reputational perspective can lead to counterparties and journalists digging deeper for bad news,” he says.

John Morgan, Principal Associate at Eversheds Sutherland, reveals that the organisations who are most successful in truly resetting or evolving their culture and reputation are those who genuinely engage with their past (even where they believe allegations are undeserved), and use it positively and purposively to design their future organisation.

“The perception of fairness for staff and others cannot be underestimated – a brilliant reputation can transform your workplace, employee engagement, productivity, loyalty, recruitment prospects, and of course reduce the risk of claims or allegations. In large companies, whether private or listed, employee voice is part of corporate governance reporting requirements, which can therefore lead onwards to improved investment or sales opportunities and a well-deserved reputation for both S and G in the ESG sphere,” he adds.

A thorough investigation into not just certain circumstances or complaints, but overall culture in a more holistic way is important, according to Laura Pharez-Zea, Principal Associate at Eversheds Sutherland

“This can lead to some hard and perhaps unanticipated conversations about people, structures and ways of working, and whether these are optimal. Organisations which carry out these steps are then well-placed to move forward and create their new story. They have a clear idea in mind of their ideal organisation and bring colleagues along on the journey, often by consulting and discussing with them each step of the way,” she says.

“The BrewDog case study is helpful in demonstrating how lawyers need to work with communications and commercial teams to ensure that the legal strategy is consistent and complementary to wider strategic aims,” advises Hurst.

THE POWER OF SOCIAL MEDIA

According to Natalie Topham, Head of Content at strategic marketing communications agency MC2, social media, and LinkedIn specifically, has become a powerful medium where CEOs and business

leaders can directly control the narrative.

“Penning open letters, as James Watt has done, aims to increase transparency and build authenticity. He’s steadily shifting the story from it being a company marred by serious employee complaints, to one that is learning from its missteps and putting their people at the heart,” she adds.

LESSONS CAN BE LEARNED

Pharez-Zea believes that challenges to reputation, particularly where these take place in the public eye, tend to provide real opportunities for a cultural reset.

“We increasingly see organisations facing such crises immediately holding themselves to a higher standard and the minds of senior leaders become focused on achieving root and branch change. Companies which face the need to reform their reputations need to engage with their past, present and future,” she says.

While, sadly, many leaders will breathe a huge sigh of relief and swiftly move on when a crisis is extinguished, more enlightened businesses will use it as an opportunity to learn and improve, according to Hemus.

“They will rigorously identify the conditions that allowed the crisis to occur and look for ways to prevent a repeat. They will assess the effectiveness of their response and whether additional training, resources or support is required in future. Crucially, they will act on the learnings and make the business more resilient as a result,” he says. Crises provide a great opportunity. Watt reflects on what can be learnt after going through difficult times.

“You have to be both humble and confident. Humble enough to recognise where there is room for improvement (there always is), and confident enough in what makes you unique. One of the most important things we’ve ever done as a business is to commission an independent review of our culture. It was a brilliant exercise and gave so much insight and ideas for how we can continue to put people at the heart of our business,” he adds.

GROWTH MUST BENEFIT EMPLOYEES AND FOUNDERS

Calvert says that companies sailing quieter waters might not address shortcomings fully, but for companies facing an existential threat or being challenged about their values, the point can be forced - with a positive lasting legacy.

It is always better to get your house in order instead of scrambling to clean up a mess. Be prepared, get on the front foot, and take control of the narrative. 

CEOs and owners of small and medium sized businesses must often navigate rugged, unpredictable terrain alone. But as a Vistage member, you’re travelling a proven, time-honoured path to new levels of success.

So go ahead and set your sights on that next great peak –because your peers and your guide have your back.

LIVE A LIFE OF CLIMB

Scan the QR code to find out how the world’s leading CEO peer advisory and executive coaching organisation can help you reach new heights.

MANUFACTURING SECTOR REPORT

With an annual output of £183bn, the UK is the ninth largest manufacturing nation in the world. From January–March 2023, the manufacturing sector accounted for 9.5% of total UK economic output. Now, that’s a sector worth saving.

LIGHT RELIEF

There was a continued rebound in activity in the second quarter of the year, easing fears of a significant recession for the sector, according to the Q2 Manufacturing Outlook Survey by Make UK and accountancy and business advisory firm, BDO.

The findings paint a positive picture, with improvements driven by strong demand in the Other Transport and Electronic sectors, in particular, with the balance of output in Other Transport (largely aerospace) extremely strong at +82%.

The resumption of international air traffic following the lockdowns and a surge in orders for new aircraft are easing some of the doom that has been engulfing Britain’s industrial sector. According to Make UK and BDO, this reflects a continued recovery in the aerospace sector with the increase in passenger miles, together with a spate of large orders for new aircraft over the last year.

Furthermore, there is huge potential in electronics, as companies invest in digitalisation and extra capacity to counter labour shortages. These investments are now translating into consistently strong balances for the South East where electronics is the second-largest industrial sector in the region.

Additionally, in a climate rocked by economic crises, the figures in manufacturing are going in the right direction. UK GDP increased to £51.35bn in the first quarter of 2023, up from £51.09bn in the fourth quarter of 2022. While growth is expected to be modest at 0.3% this year and to improve to 1.0% in 2024, according to the OECD, obstacles still exist.

“Despite the first half of the year seeing some pressures easing, there are longer-term systemic challenges in the UK market, with built-in inefficiencies that need to be addressed urgently, in order for UK manufacturing to effectively plan and invest,” according to Richard Austin, BDO’s National Head of Manufacturing

JOB LOSSES

Undoubtedly, the UK’s manufacturing economy is under stress, and unless managed correctly, is at risk of a Brexit-induced spiral of decline. In 2010, the UK supported 2.9 million manufacturing jobs but by 2022 that number had fallen to 2.7 million. In January–March 2023, the manufacturing sector accounted for 8% of UK employment.

Charlotte Brumpton-Childs, GMB National Officer, recognises that the loss of almost 200,000 jobs is devastating for workers – and their wider communities.

“Every job lost means a household income more stretched. In the worst cost-of-living crisis for a generation we need more decent, skilled jobs – not to shed them at this rate,” she says.

Not all parts of the UK experienced a decline, with the West Midlands adding 25,500 jobs, representing an 8% increase from 320,700 to 346,200. London was also up 3.7% having seen numbers increase from 5,300 to 142,300.

However, Brumpton-Childs says ministers must do more to keep jobs in the UK or the manufacturing sector will continue to witness further losses.

“The global green jobs race could revolutionise UK manufacturing – creating tens of thousands of jobs in fabrication for new wind, solar, and nuclear. But this Government seems happy to let them all disappear overseas,” she warns.

Austin emphasises the need for policymakers to address systemic challenges urgently, so the UK can better compete with other countries in the long term.

“Supply chain pressures, for example, are an endemic issue for the businesses we talk to, particularly medium-sized firms. They are facing continued disruption and increased costs, at home and abroad, with many choosing to onshore operations but facing major barriers in doing so.

“These issues cannot be overlooked by policymakers, or we run the risk of tepid-at-best growth for UK manufacturing while neighbouring countries outpace us,” he advises.

INFLATION WOES

According to statistics from this month’s S&P Global Composite Purchasing Managers’ Index (PMI), the UK is in a difficult situation with historically highinterest rates. Firms throughout the UK’s services and industrial sectors suffer due to elevated interest rates, high inflation, and negative growth forecasts. The index highlights the increased costs that companies are passing on to customers. The survey showed 25% of services companies raised prices in June compared with only 4% that cut them.

However, British manufacturers anticipate that price hikes will be the least in the coming three months since February 2021, but they will still be substantially quicker than their long-run average. Despite being considerably above its long-term average of +7, the Confederation of British Industry (CBI) reported that its monthly index of manufacturers’ average selling price estimates fell to +19 in June from +21 in May. This is the lowest reading in more than two years.

OUTDATED PROGRAMMES AND PRODUCT-AS-A-SERVICE

Outdated programmes like the Apprenticeship Levy threaten the expansion of the manufacturing sector by failing to solve labour shortages in the workforce.

THE GLOBAL GREEN JOBS RACE COULD REVOLUTIONISE UK MANUFACTURING – CREATING TENS OF THOUSANDS OF JOBS.”

Charlotte Brumpton-Childs

There are calls on the Government to eliminate pointless red tape and give entry-level apprenticeships the same priority and financing as higher-level degrees. Only then will we begin to see changes.

Also, the sector must keep up with changes in consumer expectations. Consumer interactions with companies, including OEMs, and their expectations of the customer experience have evolved significantly, as a result of digitisation.

In the past, a client would buy a piece of equipment, complete the sales process, and then, after the final installation, only communicate with the manufacturer when they need repairs or were considering purchasing another piece of equipment.

Today’s consumers prefer to pay just for what they actually need on a continuing basis rather than making a one-time purchase. They also expect continual access to companies and regular contact with them.

Although this shift in expectations presents certain difficulties for manufacturers, it also creates new possibilities, such as Product-as-aService - leasing (rather than selling) equipment to customers and/or offering a list of subscription-based value-added services.

SLOWLY (AND STABLE) DOES IT

There is plenty to be optimistic about. Firstly, dismiss the misconception that manufacturing jobs are poorly paid. The average manufacturing wage is 12% higher than salaries in the wider economy.

LINKEDIN POLL

James Brougham, Senior Economist at Make UK, recognises the improvements while remaining cautious:

“Manufacturers are seeing a gradually improving picture, but the word ‘gradually’ is doing a lot of heavy lifting. However, companies are at least seeing a relative period of stability after the political and economic turmoil of the last few years when they have spent most of their time firefighting.

“Substantial challenges still remain, however, and so long as there is an absence of an overarching industrial strategy growth prospects will remain anaemic at best,” he says.

Despite what some may be saying, the manufacturing sector is keeping steady, and there is less risk of a severe recession in the industry overall. Although investment levels are a touch underwhelming, employers have strong employment aspirations as they look for qualified workers.

BUILD, BUILD, BUILD

There are reasons for positivity, with manufacturing looking strong and simultaneously a need for reform and support within the industry. Business sentiment is mixed, there is a strong pick up in services but ongoing weakness in manufacturing.

The UK’s manufacturing sector has tremendous potential to drive significant growth. With the right policies in place, the UK can reach new heights. Let’s get behind new policies to support manufacturing. When manufacturing grows, our whole economy grows with it. 

HOW COULD THE UK MANUFACTURING SECTOR IMPROVE?

There’s always scope to do better and we are all committed to doing that. Strong collaboration between industry, the Government, SMEs, and academia is the answer. I recently attended the UK Government’s Skills for Growth conference. Attendees heard from the Chancellor, Education Secretary, and Business and Trade Secretary on how we all need to work together to ensure we have a pipeline of talent to secure critical sovereign skills for the UK.

IS THERE A STEM SKILLS SHORTAGE?

We are recruiting a record number of 1,400 apprentices across more than 60 programmes and 1,200 graduates this year. This is a 40% rise on the previous year. We also had a record 13,000 applications for our apprenticeship programmes, so there is plenty of young people wanting to work in STEM.

HOW

WOULD YOU RATE THE CURRENT HEALTH OF THE UK MANUFACTURING SECTOR?

55% 22% 5%

18% POOR GOOD VERY POOR EXCELLENT

We are doing all we can to ensure our intake comes from a diverse range of backgrounds, so we get the best talent the country has to offer. Our partnerships with Movement to Work and the Prince’s Trust enables us to provide a route into highly skilled work for the young and unemployed.

WHAT'S THE FUTURE OUTLOOK FOR THE SECTOR?

We are optimistic for the future outlook. We are harnessing the power of advanced technologies, enthusing the next generation of young people and implementing robust sustainability standards to ensure our business has the longevity to enhance sovereign skills and capabilities for the UK.

IN CONVERSATION WITH RICHARD HAMER, EDUCATION & SKILLS DIRECTOR OF BAE SYSTEMS

“Without exception, every deal we have done with Karen and her team has been efficiently handled and competitively priced. Professional, no fuss lending at its best”

Borrower, Wales

CELEBRATING TECHNOLOGY & INNOVATION

CAN YOU SHARE WITH US THE INSPIRATION BEHIND YOUR WINNING BUSINESS AND HOW IT ADDRESSES A SPECIFIC INDUSTRY CHALLENGE OR OPPORTUNITY?

CareScribe

CareScribe was founded by Chris Purcell, his brother Richard, and their friend Tom Cartwright - all of them are neurodivergent and have been on distinctly different journeys in terms of how they were supported with this throughout higher education and work.

There are always barriers faced by people with disabilities but there’s no reason that we, as a society, can’t overcome them nowadays: especially with all the advances we are making in assistive technology. And so the raison d’etre for CareScribe is to remove the barriers facing people in full-time education and the workplace and to enable them to study and work independently.

Speechmatics

We strive to understand every voice. We aim to unlock human potential, increase the inclusivity of speech recognition engines, and lower bias through natural interaction with intelligent machines. Last year, we broke through a significant number of boundaries standing in the way of making our aim a reality.

COULD YOU DESCRIBE THE KEY MILESTONES OR BREAKTHROUGHS YOU ACHIEVED DURING THE DEVELOPMENT OF YOUR PROJECT, AND HOW THEY CONTRIBUTED TO ITS SUCCESS?

Racelogic

Our latest breakthrough? Tracking the Skycam camera during the Super Bowl. This allowed Fox Sports to add real-time Augmented Reality graphics on the live feed to 115 million viewers. This project, our first in TV, has caused quite a stir, and

we’re now chatting with a bunch of Sports TV production companies about providing a similar service.

Enhanced

In recent years, we have invested a lot of time and resources into transforming our customer journeys, we take the time to map out customer journeys and put ourselves in their shoes, exploring how each step makes us feel and how it can be improved. This honest look in the mirror drives continuous improvement and helps keep customer satisfaction as a key focus.

AS A WINNER AT THE GO:TECH AWARDS, WHAT ADVICE DO YOU HAVE FOR ASPIRING ENTREPRENEURS OR INNOVATORS WHO ARE LOOKING TO MAKE A DIFFERENCE IN THE TECHNOLOGY SECTOR?

Limbs & Things

Be clear on your mission and remain focused on delivering it. Although we are

2023 PARTNERS

constantly innovating and developing new and updated products, our mission has remained consistent throughout; to improve patient outcomes through easy-to-use, costeffective, realistic medical training products. And listen closely to your market. We work side by side with medical practitioners all over the world to ensure we are creating what they need.

Loadsure

Have empathy for your customer and ensure that your business and the technology you harness addresses a real problem. There are a lot of technology providers out there looking to disrupt without a real understanding of the issues. So look to be your client’s partner and create a bespoke, purpose-built, and tech-enhanced product that truly supports their business.

OUR 2023 WINNERS

Being able to celebrate and have that recognition for our whole team is important. Find the time and go for it!

Lloyd’s Lab

Work on something you are passionate about. The start-up life is a rollercoaster, the highs are amazing but you need something to get you through the inevitable lows –passion is the secret sauce that gets a lot of founders through.

Speechmatics

Go for it! Stay consistent in your vision and mission and persistent, don’t get discouraged, and use any feedback to learn and grow.

Loadsure

One crucial bit of advice is to share this recognition with your entire team. Your success is often built in collaboration with many others; ensure that everyone is appreciated!

Enhanced

The Go:Tech Awards has been an exciting journey for all of us. The application process highlighted our greatest achievements while also identifying areas we’d like to improve on. It’s been such an empowering experience for our I.T. support team who have worked so hard.

Calvium

Find the category that fits your situation and go for it! It’s a smooth process and a great award ceremony.

VIEW OUR WINNERS GALLERY HERE

DO YOU HAVE ANY ADVICE FOR ENTREPRENEURS CONSIDERING ENTERING THE GO:TECH AWARDS IN THE FUTURE?

Racelogic

If you’re considering the Go:Tech Awards, our advice is to sell your story! A compelling backstory, combined with a history of growth and profitability, is a great way to catch the judges’ eye.

CareScribe

The application process provided us with a great opportunity to look back at where we’d come with our product and reflect on how much we’d accomplished and most importantly, winning the Go:Tech Award was a lovely way for us to rally the team!

Limbs & Things

Winning the HealthTech Business of the Year award is a fantastic accolade for us.

DO YOU HAVE WHAT IT TAKES TO WIN? START YOUR ENTRY FOR 2024

DO WE SHUT UP SHOP ON INVESTMENT UNTIL TIMES GET BETTER?

John Stapleton has created and grown a few successful consumer-led businesses, including New Covent Garden Soup Co and Little Dish, over almost four decades.

A fund manager I know well has described the investment market as ‘carnage’. The cost of capital is through the roof and availability is very scarce. The rest of us are seeing this in a variety of ways – start-ups are having a difficult time raising funds (certainly at the inflated valuations they have become recently used to) and more established businesses are shelving plans to invest in growth even when they can demonstrate a tried and tested business model to justify it.

Conventional Wisdom dictates that Central Banks raise interest rates whenever inflation is high or employment is at its fullest level – thus dragging inflation back to a ‘manageable range’. I remember how many said 12 months ago that inflation this time round was driven mostly by ‘supply-side

disruption’ and not waning demand. The implication is that once we got our supply chains sorted and serviced the pent-up demand, inflation would drop dramatically. So much for that – inflation appears to be a much more dogged proposition than predicted.

Also, in the last six months, it has become clear that interest rates are not exactly the solution they have been in the past. The Financial Times reported the world’s 20 largest economies have raised interest rates by an average of 3.5% in the last 12 months but with no sign of inflation returning to (Fed or ECB) target levels of 2%, before 2025.

From experience, it seems to take about 18 months for the impact of a rate rise to fully pass through the economy. There tend to be a few reasons for this: the global economy is now more services biased, which requires less capital (and therefore is less sensitive to the cost of capital); far fewer homeowners

have variable-rate mortgages than previously (in the UK down from 70% in 2011 to 10% in 2023) and labour shortages have driven wage growth and therefore, inflation.

Despite this gloom, there remains a huge amount of money looking for a home. And we’ve all been here before. We’ve all been through downturns, with all the pessimism that goes with it. However, there always is an up-turn. The crystal ball can only tell us when that will be. But the smart money (quite literally) is on investing now. My advice is let’s not sit on our hands for 18 months waiting for things to get demonstrably better. Get ahead of the game. Who knows if we’re now at the bottom of the trough – we’ll only know that in a few months when we look back – but a few things will have happened for sure over the next 12-18 months:

An election in the UK with a likely change of Government. An election in the US is also looming – and this looks to be – at least for now - more difficult to call. Some things may have happened by then:

The war in Ukraine may either be over, or it will be viewed as the ‘new norm’? The initial six-month shock of the war, which spooked the markets, is a memory. Supply chains have been re-established or earlier ones circumvented. We are now in a new ‘business as usual’ and this signals stability, at least of sorts.

One other event will have taken place by the end of the year – COP28 in the UAE (December 2023). One key area attracting significant investment already, and likely to continue at pace, is sustainability initiatives designed to mitigate or control climate change. Given the large reserves available in the GCC area and the urgent need to deploy, this is likely to be a key milestone signalling the recovery of the global economy in 2024.

If we want to look closer, there are already signs of some optimism with global M&A deals completed during Q2 2023 up approximately 23% compared to Q1 (albeit Q1 was the slowest start to a year in a decade).

Those who make investments now – despite the apparent headwinds - or prepare now for investment events in early 2024 are likely to be on the cusp of recovery and benefit from the early change in sentiment. Q1 2024 is likely to be much less ‘carnage’ than we think we are currently experiencing. 

HOW HAVE THE TOP 32 BEEN CHOSEN?

The people included in this list have made up a significant proportion of their net worth through ventures outside of the salary earned whilst playing their chosen sport(s). These ventures include investments in other companies, endorsements, and businesses they’ve founded and run, or just worked at.

This list is in no particular order.

TOP 32 SPORTS STARS TURNED ENTREPRENEURS

Many people have asked whether sports stars make successful entrepreneurs. Success in the sporting world does not always translate to the business one, but there are plenty of entrepreneurs that have seamlessly made the transition and in some cases, even eclipsed their sporting achievements. For our latest Top 32 list, we profile the top sports stars turned successful entrepreneurs.

GARY NEVILLE FOOTBALL

Manchester United legend Gary Neville is one of the club’s most decorated footballers and a successful pundit since retiring in 2011.

His investment business, The Relentless Group, was launched in 2015, whilst he co-owned Salford City F.C. along with several of his Class of ‘92 teammates since 2014. Earlier this year, he sold a majority stake in his production company, Buzz16, in a move that could value the firm at more than £200m. In 2021, The Sun reported that Gary was involved in 66 businesses and his financial assets were worth £70m.

GEORGE FOREMAN BOXING

George Foreman is one of the most famous names in boxing. Regarded as one of the sport’s most-devastating punchers, he’s also the oldest heavyweight champion ever in the sport’s history, having held the title at age 46. Outside of boxing, Foreman is best known for his eponymously named grill, which he promoted to great success via various TV commercials.

In 1999, he sold the commercial rights to the grill for $138m (£109m), which has sold over 100 million units since it was first launched in 1994.

JACKIE EDWARDS ATHLETICS

Five-time Olympian long jumper Jackie Edwards still holds the indoor and outdoor long jump records at Stanford University. A former silver medallist at the Commonwealth Games, since competing at her final Olympics in Beijing in 2008, Edwards has gone on to establish Tootsies, high-quality compression socks for pregnant women that are designed to alleviate the discomfort of swollen legs.

In addition, Edwards created the Tootsies Fit Club, which is aimed at encouraging women to have healthy pregnancies by providing them with exercise and nutritional information.

LYDIA LASSILA SKIING

Australian freestyle skier Lydia Lassila competed in five Olympic games, became an Olympic champion in 2010 and won a bronze medal in aerial skiing in 2014. After undergoing surgery on a ruptured anterior cruciate ligament (ACL) in 2005 and having her knee collapse again a year later, Lassila was inspired to set up BodyICE, a company that supplies a range of area-specific ice and heat packs across Australia, New Zealand, the US, Germany, and the Middle East.

In 2020, she also set up ZONE by Lydia, a supplier of ecoconscious products for yoga, wellness, and life.

SERENA WILLIAMS TENNIS

Arguably the greatest female tennis player of all time, Serena Williams has won the most Grand Slam titles in the Open Era and is the only player to win all four Grand Slams in singles and doubles. Her VC fund, Serena Ventures, was launched in 2017 and has raised $111m (£87m) and invested in more than 60 start-ups.

In December 2022, the tennis legend co-founded the active lifestyle recovery brand Will Perform, and in April 2023, Williams also launched a multimedia company, Nine Two Six Productions.

DAVID LLOYD TENNIS

David Lloyd is a former Davis Cup captain who coached former British number one Tim Henman, helping him to break into the world’s top 10 players. A hugely successful entrepreneur, Lloyd founded the fitness and leisure company David Lloyd Leisure in 1982, floated the company on the London Stock Exchange in 1992, and sold it to Whitbread Plc in 1995 for a reported £201m.

He then created Next Generation fitness clubs, selling the business to London & Regional in 2006. Lloyd’s other business ventures include real estate development and investment in the edtech business Toppa.

DAVID BECKHAM FOOTBALL

One of the best English midfielders of his generation and the highest-paid footballer in the world in 2013, David Beckham is a British cultural icon. Outside of his glittering football career, he is the part owner of both Salford F.C. and MLS side Inter Miami CF.

Beckham launched DB Ventures in 2014, which handles endorsements with Adidas, Tudor watches, and Haig Club, his own whiskey brand. The former England football star has also invested in UK esports firm Guild E-Sports, as well as tech companies Zenga and MyFitnessPal, amongst others.

MICHAEL JORDAN BASKETBALL

Michael Jordan is one of the highest-earning sports stars turned entrepreneurs of all time. Widely regarded as the NBA’s greatest-ever player, the six-time NBA champion first partnered with sports apparel giant Nike in 1984, and introduced the Jordan Brand with them in 1997. In 2022, the Jordan Brand brought $5.1bn (£4bn) to Nike with Jordan taking at least $150m (£118m) of that.

He is also a NASCAR team co-owner and an investor in sports-betting firm DraftKings. In June 2023, Jordan sold his majority stake in the Charlotte Hornets basketball team for a rumoured $3bn (£2.37bn).

JOSH LEWSEY RUGBY

Josh Lewsey is the CEO, Asia Pacific Financial Advisory of the global CEO advisory firm, Teneo. He has spent 20 years working across financial and advisory services, which includes roles at EY and within Citigroup’s Capital Markets team, with other notable roles including a stint as interim CEO of Cornish Pirates and Head of Rugby at the Welsh Rugby Union.

Before venturing into the business world, Lewsey was a member of England Rugby’s 2003 World Cup-winning squad and a four-time Premiership winner with Wasps.

KRISTI YAMAGUCHI FIGURE SKATING

A two-time World champion, former figure skater Kristi Yamaguchi became the first Asian American to win a gold medal in a Winter Olympic competition after her victory at the 1992 Olympics. Following her Olympic victory, Yamaguchi founded Always Dream in 1996 and the foundation has been improving childhood literacy in underserved communities ever since.

A renowned keynote speaker, she also created her own clothing line, Tsuya, with her various business exploits collectively helping Yamaguchi to build up an estimated net worth of $8m (£6.3m).

MICHELLE BROOKE-MARCINIAK BASKETBALL

A former point guard in the WNBA Michelle Brooke-Marciniak led the Tennessee Lady Vols to their fourth National Championship in 1996 and was named MVP in the Final Four of that same season. Marciniak also spent five years as the assistant coach at the University of South Carolina but got her start in business after cofounding bed linen company SHEEX in 2008.

The company, which supplies bedding and sleepwear that is designed to help with sleep and recovery, is now a multi-milliondollar firm that is stocked in stores across North America.

OSCAR DE LA HOYA BOXING

Boxing great Oscar De La Hoya set up his combat sports promotion firm, Golden Boy Promotions, in 2002, and by 2009, it was generating revenues of more than $100m (£79m) a year. Serving as the company’s Chairman and CEO, Golden Boy has promoted a wealth of combat sports stars, including the current undisputed super middleweight boxing champion Canelo Álvarez and former unified light-welterweight world champion Amir Khan. An 11-time world champion in six weight classes in his own right, De La Hoya was named Fighter of the Year by The Ring magazine in 1995.

DAVE BING BASKETBALL

Former Detroit Pistons point guard Dave Bing spent 12 seasons in the NBA, winning the Most Valuable Player Award in the 1976 NBA All-Star Game. After retiring from basketball, Bing became a pioneer in the steel industry, forming his own company, Bing Steel, in 1980 and growing it from four employees to more than 1,400 and with annual revenues of $300m (£237m).

Bing sold the firm in 2007 and began a career in politics, winning an election to become Mayor of Detroit and serving in the role from 2009 to 2014.

CRISTIANO RONALDO FOOTBALL

Regarded by many as the greatest footballer to have ever lived, Cristiano Ronaldo has scored more than 800 career goals, won the Ballon d’Or five times, and won Euro 2016 with his native Portugal. But his incredible net worth of $500m (£395m) comes from much more than football.

From a luxury hotel chain to clothing and perfume brands, Ronaldo has stakes in restaurants and fitness centres and even owns a hair clinic and a private jet rental business. One of his more surprising, but reportedly most profitable, business ventures is a paint store he owns with his brother.

MATHIEU FLAMINI FOOTBALL

French former football player Mathieu Flamini is best known in England for his time at Arsenal, where he won three FA Cups and a runner-up medal in the 2006 Champions League. Shortly after leaving Arsenal for AC Milan in 2008, Flamini ventured into the business world, co-founding GF Biochemicals, a global producer of levulinic acid and derivatives.

The company, which is headquartered in the Paris and employs 50 people, has successfully raised €15m (£13m) for its mission, whilst Flamini was named CEO of the company in 2022.

KUMAR SANGAKKARA CRICKET

Kumar Sangakkara is regarded as one of the best wicketkeeper-batsmen of all time. The former Sri Lanka captain helped his country win the 2014 ICC World Twenty20 and reach four other world cup finals across One Day and Twenty20 cricket.

A self-proclaimed foodie, since retiring from the sport, Sangakkara and former teammate Mahela Jayawardene founded Ministry of Crab, a successful restaurant chain that has consistently been listed as one of the best restaurants in Asia. Last year, Sangakkara co-founded esports company Behaviol, which has already secured $2.5m (£1.9m) in seed funding.

SHAUN WHITE SNOWBOARDING

As the world record holder for the most gold medals at the X Games and most Olympic gold medals (three) by a snowboarder, Shaun White is an absolute legend of the sport. With a net worth of $65m (£51m), he’s also a legend in the business world.

White launched his first video game franchise, Shaun White Snowboarding, in 2008, purchased a minority stake in the California-based skiing and snowboarding resort, Mammoth Resorts, in 2016, and part owns several other resorts. He also owns an active lifestyle called Whitespace and even took ownership of the Air + Style festival of music and snowboarding.

SHAQUILLE O’NEAL BASKETBALL

Four-time NBA champion and the NBA’s Most Valuable Player in 2000, Shaquille O’Neal is regarded as one of the greatest centres in the history of basketball. Yet, his sporting ability is, perhaps, exceeded by his acumen for business.

Earlier this year, Yahoo reported that Shaq has owned as many as forty 24 Hour Fitness gyms, 150 car washes, 155 Five Guys Burger & Fries, 9 Papa John’s, 17 Auntie Anne’s pretzels, and a few Krispy Kreme restaurants. He also has an impressive venture portfolio, having invested in the likes of Google, Lyft Inc., Ring, and Vitaminwater.

VENUS WILLIAMS TENNIS

With seven Grand Slam singles titles, including five at Wimbledon, and 14 major doubles titles, Venus Williams is one of the best to ever pick up a racket. And like her younger sister Serena, she has also been very active outside of the sport. Venus founded a full-service commercial and residential design firm called V Starr in 2002 and launched an activewear and lifestyle brand, EleVen in 2012.

The tennis legend has a plant-based protein company called Happy Viking, works as Asutra’s Chief Brand Officer, and joined Topsin Consumer Partners as an Operating Partner earlier this year.

MARQUES HARRIS AMERICAN FOOTBALL

Former linebacker Marques Harris spent five seasons in the NFL, playing 60 games for the LA Chargers. But after his NFL career came to a premature end, Harris returned to his native Colorado to build a successful real estate business.

Harris is also the Co-Founder and Operator of the real estate investment marketplace Pi Legacy Holdings, a distinguished public speaker, life coach, and the President of Athletes for CARE, a community of athletes that use their influence to improve health standards for athletes around the world.

DEREK REDMOND ATHLETICS

The former British 400m record holder, Derek Redmond won gold in the 4x400 men’s relay at the 1991 World Championships in Tokyo but was forced to retire a few years later due to injury. Since retiring, Redmond has bounced back from bankruptcy twice, working as a motivational speaker, business coach, trainer, and author for more than 25 years.

He also spent six years as Group Performance Director of Thomas International, although many will know him today as an Auctioneer on Channel 4’s The Greatest Auction.

TONY HAWK SKATEBOARDING

A pioneer of modern vertical skateboarding, Tony Hawk has won Gold 10 times at the X Games, the annual action sports event, and landed the first documented 900 (a two-and-a-half revolution aerial spin) in 1999. Hawk teamed up with Activision in the same year to create Tony Hawk’s Pro Skater, which is now a billion-dollar video game franchise.

He has his own skateboard company, Birdhouse Skateboards, and his own clothing brand, Hawk Clothing. Hawk was also one of the early investors in Blue Bottle Coffee, which was acquired by Nestlé for $500m (£395m) in 2017.

ROBBIE FOWLER FOOTBALL

Back in 2021, the Daily Star reported that former Liverpool player Robbie Fowler’s net worth had reached £31m. A big reason for this is Fowler’s vast property portfolio, which reportedly consists of more than 80 properties, although Robbie Fowler Sports Promotions is also said to be worth around £2m. His other ventures include investments in several racehorses with former Liverpool teammate Steve McManaman.

Nicknamed “God” by the red half of Merseyside, Fowler scored 183 goals and won five major trophies across two spells at Anfield.

YUVRAJ SINGH CRICKET

Yuvraj Singh launched his investment company, YouWeCan Ventures, in 2015 whilst still playing for the Indian national cricket side. He has gone on to invest in a variety of tech start-ups, including Healthians, which provides lab test services at home, and online restaurant reservation platform EazyDiner, amongst others.

Away from his role helping various Indian start-ups to get off the ground, Singh is best known as a formidable left-handed batsman. In the 2007 World Twenty20, he famously hit English seamer Stuart Broad for six sixes, whilst he became the first player to take a five-wicket haul and score a 50 in the same World Cup match at the 2011 World Cup.

JOHN ELWAY AMERICAN FOOTBALL

Denver Broncos legend John Elway is widely regarded as one of the best quarterbacks to ever play American Football. Winning the Super Bowl twice with the Broncos, Elway also served as the franchise’s General Manager when they won Super Bowl 50.

In the business world, the NFL legend has shown himself to be equally formidable. Elway owned several car dealerships in the 1990s but sold some of them to AutoNation Inc. in 1997 for $82.5m (£65m). The former owner of Arena Football Team Colorado Crush, he also has a chain of steakhouse restaurants, called Elway’s, spread across his native Colorado.

WAYNE GRETZKY ICE HOCKEY

Widely considered the best to ever lace up a pair of skates, ice hockey legend Wayne Gretzky held 61 NHL records at the time of his retirement in 1999 and remains the leading goal scorer, assist producer, and point scorer in NHL history. Since retiring, Gretzky has forged an impressive business career, investing in two ice hockey teams, Phoenix Coyotes and Hull Olympiques, and the Canadian football team the Toronto Argonauts. A Partner with sports equipment manufacturer First Team Sports, Gretzky, who has a net worth of $250m (£197m), also owns restaurants and a winery.

JOHN EALES RUGBY

A legend of Australian rugby, John Eales won two Rugby World Cups with his country, captaining the team to victory in 1999. Nicknamed “Nobody” because “Nobody’s perfect”, the former lock is the highest-scoring forward in Test rugby history with 173 points for the Wallabies.

Shortly after leaving the sports, Eales founded Mettle Group, an HR consultancy which was acquired by Chandler Macleod in 2008. He also founded John Eales 5, which is now a part of International Quarterback. An active investor, Eales has also served as a Non-Executive Director in various ASX-listed companies and is currently a director at global impact firm Palladium.

KATIE WARNER JOHNSON BALLET

Katie Warner Johnson is the Co-Founder and CEO of Carbon38, the multi-brand women’s activewear retailer. Carbon38 was founded in November 2013 and Johnson successfully grew the company by 500% in 2015.

To date, the multi-million-dollar retailer has raised just shy of $40m (£31m) in funding and supplies more than 80 global brands. Prior to setting up her business, Johnson trained to be a professional ballet dancer, performed in several national tours on Broadway and worked as a fitness instructor.

MARIA SHARAPOVA TENNIS

Many Brits will remember Maria Sharapova for her upset victory over Serena Williams at Wimbledon in 2004, aged just 17. The five-time Grand Slam champion and the only Russian to win all four majors, Sharapova is one of the best tennis players of her generation.

An equally shrewd businesswoman, Sharapova launched her confectionary brand Sugarpova in 2012 and, according to a report by The Sun from earlier this year, the business is now worth £150m. The former tennis star sits on the board at fashion brand Moncler and has invested in various wellness and beauty brands, such as Bala Bangles and Supergoop.

DANICA PATRICK RACING

Danica Patrick is the most successful woman in the history of US open-wheel car racing and has enjoyed considerable success since stepping out of the driver’s seat and venturing into the business world. Patrick purchased a vineyard named Somnium in 2009 and a portfolio of exclusive wines are now released under the brand name. With an estimated net worth of $80m (£63m), Patrick has earned millions of dollars from high-profile endorsements from the likes of Coca-Cola, Go Daddy, and AirTran Airways, whilst she has hosted her own podcast, Pretty Intense, since 2019.

ION TIRIAC TENNIS

Back in 1991, the Ion Țiriac Bank was founded, the first private bank in post-Communist Romania. When Țiriac sold his 45% stake in the company to UniCredit back in 2015, the bank was Romania’s fourth largest in terms of assets, with €6.45bn (£5.6bn) worth. Thanks to a wealth of other business enterprises, which includes auto dealerships and a charter airline firm, his estimated net worth is an incredible $2bn (£1.58bn).

But prior to becoming one of Romania’s richest people, Țiriac won the doubles title at the 1970 French Open. He also played ice hockey for his country at the 1964 Winter Olympics.

ARNOLD SCHWARZENEGGER BODYBUILDING

Although most people today know Arnold Schwarzenegger for his iconic Hollywood roles and his stint as the Governor of California, the bodybuilding great and seven-time Mr. Olympia winner was a millionaire before he got his big break in the acting world. His first business venture was a bricklaying business, the profits of which he used to start a mail-order business for bodybuilding equipment. Next up was a real estate business, which Schwarzenegger used to become a multi-millionaire before the age of 25. Today, he has more than 100 business ventures, multiple property holding companies, and an estimated net worth of $450m (£355m).

ENTREPRENEUR REVEALS THE SECRETS TO RAISING INVESTMENT IN THE UAE

Obediah Ayton was raised in the UK but began his professional career studying accounting in the United States of America. Upon his return to the UK, he got a job working at a Family Office under a German entrepreneur, learning about buying companies and becoming a keen Investment Analyst. He then set up shop in the Middle East with a dream of building his own companies.

Despite starting with nothing, he set up several businesses including an accounting company and a media company, before moving into food and beverage management. Now, he runs a holding company that invests in start-ups and has amassed a loyal LinkedIn following of over 64,000 people. He covers topics such as tips for entrepreneurs looking for funding in the UAE and explanations of ruling families, local family offices and groups.

We talk to Obediah about why companies should aim to be camels, not unicorns, how the Family Office ecosystem works in the UAE, and more.

WHAT DREW YOU TO THE UAE?

The Middle East is quite intimidating. It’s a desert and it’s easy to think that there’s not much to here. However, when you come here you fit into the culture. Tax is also a huge advantage. In the UK and other developed countries, we pay a lot of tax. The way I think about it in the UAE, it’s like going onto Amazon but you don’t have Prime, when you’re picking your films, you have to pay for them one by one.

In the UK, it’s like you have Netflix. You’re subscribed into the system, there’s no way of getting out. Even if you don’t like anything on Netflix, you still have to wait for the next series to come; it’s a bit of a trap. In the UAE, you pay for what you consume. It’s a country of choice. I can do as I please, I can set up a business, I can operate it and pay no tax.

I then get to pick what I consume such as healthcare, schools etc.

I can speak to China in the morning, and I can speak to America in the evening, and there are not many places on this planet where you can do that. It’s also an emerging market. All the Islamic laws changed during the pandemic, and it became a lot more flexible for a foreign owner or an expat to live here.

We have our ruler and our conglomerate families that have been here since the birth of the country, but in the tech space, there still isn’t a huge number of leaders here. We don’t have a long line of list of CVs of these unicorns, or what we call camels, here, so there’s lots of opportunity.

Otherwise, it would just sit there and do nothing. It’s a sophisticated engine. It has a mandate from its principal, to go and invest in things and make money not correlated to the day-to-day business. There are lawyers and accountants, it’s very expensive. It’s not something you want to get into unless you’ve got quite a bit of cash, but that is the definition of a Family Office. Now Family Holdings (or Family Offices as they are known out here) are different.

They are a ginormous holding structure that is split into segments, with certain family members having portions of the business, but it’s normally owned by dad or grandad; so, there’s normally a single shareholder. All these businesses are still operational and in broad, diverse industries, such as mining and minerals, oil and gas, real estate, and financial technologies. When they generate enough cash, and this cash left over, typically families would invest in other things from the holding company.

COULD YOU EXPLAIN THE SYSTEM THAT YOU HAVE IN THE UAE WITH REGARD TO FAMILY OFFICES?

A Family Office in the UAE is a bit of a buzzword; it does exist, but it’s different. They are actually a family group or family holding, and the difference is massive. In the UK, if you made loads of money, you’d put a big chunk of change in a different account or a fund. Then you get some clever guys from Goldman Sachs to manage it and make more money on that money.

That’s why a lot of families had been very good at private equity because they’ll go out and buy another company or acquire another company for their portfolio. The one thing which was very new to them was venture capital investing. Picture a massive holding company: the money is everywhere, and you don’t know where the liquidity is. When a shiny start-up comes to your doorstep and says, “we’re one of the fastest growing companies in the UK, we’ve got this guy and this group on our cap table – big names –and we want your money.”

The problem is that a lot of these Emirati groups could take months to find out how to get that money into one place. Therefore, this corporate structure is a little bit of a mess.

“I CAN SPEAK TO CHINA IN THE MORNING, AND I CAN SPEAK TO AMERICA IN THE EVENING, AND THERE ARE NOT MANY PLACES ON THIS PLANET WHERE YOU CAN DO THAT. IT’S ALSO AN EMERGING MARKET.”

A lot of what you do has to complement their portfolio. So, if I’m a UK business and I want to raise money from the Middle East, you need to go with the approach of saying, “Mr Family Office, I have a product that can service one of your portfolio companies.” Once you’ve built a relationship with them, then you can say we’re raising growth capital on our holding company back in the UK, we would love you to be a partner. If he’s obviously seen the talent of your business, yourself, and your team, then he’s going to figure out a way to invest in you.

HAVE YOU NOTICED A TREND IN THE SIZE OF COMPANY THAT SUCCESSFULLY GAINS INVESTMENT IN THE UAE?

What size it must be, I don’t know, but what I can say is that it can’t be something that is not proven with customers. You’re going to struggle to get this country to believe in you if the local country hasn’t started to believe in you. It’s not about raising money, it’s about saying, “I have a product in the UK, it works, and we want to pick it up and put it in the UAE.”

They’re generating a good income from oil and other types of fossil fuels, etc., the sovereign wealth is pretty good; life is okay here and they hold all the cards. So, when they want to give you money, they’re going

to want something in return. I would say the standard is a mature seed or an early Series A. Another thing I would stress is pricing.

You’re entering a country that doesn’t have a lot of history and pricing. If you’re coming in looking for somebody to validate your business, this is probably not the best country. It’s not that they can’t, it’s just it would take a long time and may be down to PwC, costing you a fortune, and giving you a lower value than you’re expecting as a founder.

MOST OF THE COMPANIES ARE AIMING TO BECOME UNICORNS BUT ON LINKEDIN YOU TALK ABOUT BUSINESSES AIMING TO BECOME CAMELS INSTEAD. COULD YOU TELL US MORE ABOUT THE CONCEPT OF BEING A CAMEL?

A camel is often seen as a big creature that smells and isn’t very attractive. A unicorn is seen as this beautiful, rainbowcoloured, mystic creature. The Middle East has only become relevant to the rest of the world in the last three years, since the pandemic, and we’ve been trying to illustrate the strengths that we have here. We see ourselves as resilient, and a camel is just that. They are found in the desert, and they survive on little water and food.

I’ve put this analogy out to the business world because as the West is struggling

with a financial crisis, the Middle East is holding true. We have no banks failing here. A lot of the world is moving here for the lifestyle. Small businesses are getting funded here. There’s no slowdown. When a storm comes, camels typically run to it because they enjoy the storms. But typically, I can tell you that if a storm comes, unicorns are running in the opposite direction.

NO CONVERSATION ABOUT THE UAE IS COMPLETE WITHOUT COVERING THE CRITICISMS, REGARDING LGBTQ+ RIGHTS AND FREEDOM OF THE MEDIA, ETC. HOW IS THE WAY THE MIDDLE EAST IS VIEWED AROUND THE WORLD REGARDED THERE? Being an expat living here for the last four years, a lot changed during the pandemic. The world stood still, and we realised that we need to change, to be better, to make more friends, and to be more international. You’re free in Dubai. There’s nobody telling you what you can do; just respect the culture and respect the country. It’s also worth noting that they are breaking their religion for us. The prayer on Friday is the main prayer of the week.They have sacrificed their Friday and moved the weekend for the rest of the world. That’s huge. Now with Saudi Arabia, we have to respect that they are a country that’s only really starting to open up to the world. They’re going to have their own laws and their own views on life, but they’re trying. As Brits, we don’t ever like to admit that we were one of the biggest invaders of many countries hundreds and thousands of years ago. You have to give countries time; it’s not going to flip overnight. 

Mid-Year Check-in: The Top 3 Priorities for CEOs

With the aftershocks of the pandemic receding, CEOs are navigating this new and ever-changing economic reality. A generationally empowered workforce that rapidly adapted to a hybrid workplace has created hiring and retention challenges. For business leaders creating a strategy and finding growth through calculated investments is now more challenging than ever.

Each year, at Vistage, we index business leaders to capture the major decisions, top investments and leadership challenges of CEOs and other key leaders of small and medium-sized businesses.

As part of our latest deep dive we’ve identified the following key themes for the second half of the year, as business leaders look ahead to the next growth cycle:

WORKFORCE VOLATILITY

While unemployment rates remain historically low, worker quit rates remain historically high and, while the hiring frenzy of 2022 has passed, the competition for attracting and, most importantly, retaining the workforce is intense. The pressure will continue to ease as the aftermath plays out, but once the growth cycle takes hold, the demand for talent will skyrocket again.

To curb the workplace volatility, it’s particularly critical for leaders to focus on training their frontline bosses. This ensures the people who have the greatest influence over (and the most direct day-to-day interaction with) employees are equipped and capable to support them. People don’t quit bad jobs, they quit bad bosses. According to our latest survey, 80% of Vistage CEOs are

investing in programs for their managers and leaders.

While we may be experiencing a slight cooling in the demand for talent compared to the white-hot labour market of 2021, it’s worth remembering current levels are still well above what they were pre-pandemic, and economists project this lull will be short-lived.

INFRASTRUCTURE FOR EXECUTION

Technology will continue to dictate the speed of change. Currently, three-quarters (75%) of CEOs are investing in technology to reduce the labour burden on the workforce, and 12% plan to do so in the future.

AI and ChatGPT are becoming mainstream and supporting initiatives at all levels of the organisation. The evolution of the digital workplace creates the platform for a high-performance workplace. Key to that environment is the organisational ability to collaborate.

Getting good at collaboration is an easy tactic with immediate impact. This starts with choosing a standard collaboration technology that integrates best with your other systems and training individuals on the skills and capabilities of that app. The right technology and training that are then aligned with organisational standards and protocols streamline connectedness in the workplace, especially one that is distributed.

OPPORTUNITY IN THE AFTERMATH

All businesses are operating and managing the aftershocks of the pandemic and current economic climate. Some businesses have struggled with slowing customer demand

By Joe Galvin, Chief Research Officer of Vistage

while others have seen operating costs soar. Finding opportunities in the aftermath will be a differentiating factor for successful companies.

One area of focus for small and medium-sized businesses is taking advantage of weakened competitors. From targeting their customers to recruiting their talent to actually acquiring their business, there may be many levels of opportunity to gain market share in the aftermath.

Strategic price increases balanced with customer growth in the face of inflation are where CEOs are finding opportunities as well. Leaders should evaluate not just revenue but order volumes as well to understand the rates of change in customer demand.

Underlying all of these themes is the necessity of building a strong leadership team. Many CEOs cited they were taking a hard look at their organisational structure and leadership team in 2023. They need leaders that can manage the new rules of collaboration and accountability that come with a hybrid workforce.

Leaders can identify strategic growth opportunities and develop plans to get there. Leaders who are foundational at attracting and retaining the workforce to lead their company through this slowdown will be positioned for the next phase of growth.

EVERYONE HAS A

PERSONAL BRAND

WHETHER THEY LIKE IT OR NOT

Freddie Paxton is a personal branding expert and the 27-year-old CEO of WOAW: the UK’s number 1 Personal Branding agency for Founders, CEOs and entrepreneurs.

If you’re on social media, chances are you’ve noticed the words ‘personal branding’ a lot more in recent times. To some, it’s nothing more than a bit of fluff: “Why would I need one of those? What does that actually mean? Surely that’s just for the egotists.” Sorry to break it to you, but you’ve already got one. Everyone does.

Some of you are ‘the miserable guy with a short temper.’ Some of you are the ‘snappy dresser.’ Or perhaps you’re ‘the one who’s always banging on about X.’ Jokes aside, the point is that we’re all viewed as something — the difference is that some are choosing to control that narrative, leveraging the power of social media to do so; while others are letting it play out without intention.

When WOAW first started, we had almost no competitors. We were the first personal branding agency in the UK specifically focused on working with Founders, CEOs and entrepreneurs. When you have a look at the landscape now, there’s much more competition. While that always makes things slightly tougher for you as a business, the increasing interest in this industry actually adds massive credence to what we’ve been saying for years:

This stuff is important. Really important. And it works.

THE POWER OF A PERSONAL BRAND

When curated properly, a strong personal brand can be a person’s most valuable asset. I always use the analogy of industry events. We all know what it’s like — you turn up, you’re there to network, you have to spend time doing the rounds introducing yourself to people and getting your name out there. It’s time consuming and draining. When someone has already put thought into building and scaling their reputation online, it’s totally different. You walk into that room and people already know who you are and what you do. The groundwork is already done, and those conversations facilitate themselves.

Most people running businesses have genuine expertise in certain areas. They have a wealth of knowledge and are well-placed to become an authority within those spaces. But without really demonstrating that in a tangible way, who is going to know? How are they any different from anybody else?

That is why I talk about being able to ‘control the narrative’: you’re able to decide what you want to be known for, what you want to showcase and what you want to achieve, then build a reputation with purpose around those aspirations.

IT’S MORE VERSATILE THAN YOU THINK

I’m frequently asked why someone should actually invest in their personal brand - whether that be via an agency like ours or by themselves. The answer relates specifically to the versatility of a good personal brand’s effectiveness in what it can help an individual achieve.

To give specific examples, we work (and have worked) with people who have entirely different aims, from raising investment rounds, selling their business, attracting better talent or just simply driving more revenue. Being active online and putting out the right messaging can be an effective solution to achieving any or all those goals – not just one of them.

A NOTE TO THE NAYSAYERS

So, to those who are still sceptical about the value behind building a personal brand, I’d ask you to do the following:

Think of a person in the public eye that you’ve never met, but that you admire.

David Attenborough. David Bowie. David Schwimmer, perhaps.

Now ask yourself, why do I admire them? How is it that I admire them, having never even met them?

In many cases, the answer to your scepticism lies within those considerations.

HOW THE RIGHT PARTNERSHIP CAN HELP YOU GROW,

Ian Aspinall Apple Public Sector Lead, Kingsfield IT

appointed Kieran Shah and Matt Green in senior, public-sector roles to continue growing the 15-strong team.”

But that’s not all. Having been included in a variety of frameworks, Including

Aspinall continues: “Growth has been cemented with a consistent series of new framework and partnership wins, taking Kingsfield to new heights under Brian Boys’ direction. This includes securing a place on a multi-billion-pound public sector framework, which has seen Kingsfield become a “go-to” provider of cloud services for the public sector nationally.

“On top of this, Kingsfield has recently received national recognition from tech giant Microsoft, being awarded the “Worldwide Rising Star” award. The plethora of new framework and award wins has skyrocketed the growth of the Midlands-based team.” Whilst there have been several factors that have simultaneously driven the company’s growth, the overriding factor is the direction provided to the company by Managing Director Brian Boys. Following his appointment, Aspinall says Kingsfield was also accredited as an Apple Authorised Reseller, allowing them to receive funding and specialised training from the world’s largest technology company. The trust bestowed by this accreditation also enabled Kingsfield to develop relationships with clients.

But Apple is not the only tech giant that Kingsfield partners with.

Ian continues: “Kingsfield has also received a host of new business wins and partnerships with the likes of Riverbed, 8x8, and Microsoft, and has even gone as far as to be named the fastest-growing UK Microsoft partner in the UK. Association with names like Apple and Microsoft can often be as valuable as financial funding, for clients to know that the biggest names in tech trust a company to speak on their behalf.

“This has also been a result of Kingsfield’s increased presence at events around the country, allowing the chance to meet potential clients face-to-face.”

INFLATIONARY PRESSURES AND BUDGET CONSTRAINTS

Since Kingsfield started its rapid growth journey in 2021, the UK has been battling a cost-of-living crisis. And whilst inflation is no longer in double digits, interest rates have hit their highest mark in 15 years. This has proven challenging for Kingsfield because although high inflation is affecting every industry, Aspinall says it is taking a disproportionately heavy toll on the tech

sector and this is having a knock-on effect on business.

He explains: “Many businesses and organisations are less willing to commit to new investment with tech providers, at least until inflationary pressures are brought under greater control. However, Kingsfield has remained resolute in the face of rising inflation and with several high-value, new contract wins in recent months, the company believes it can continue its path of consistent year-on-year growth.”

LOOKING TO THE FUTURE

Of course, there are not only the challenges of today to consider but also the ones of tomorrow. Since the launch of ChatGPT in November 2022, there has been widespread adoption of AI tools amongst UK businesses. As artificial intelligence continues to develop and more companies consider how they can benefit from them, specialist IT consultancies like Kingsfield will undoubtedly be affected. But fortunately, they are already preparing for these industry changes.

Aspinall explains: “Undoubtedly, AI will bring both positive and negative changes to our industry. But one thing is for certain, it is not going anyway anytime soon. That is why Kingsfield is doing what it can to get ahead of the curve - to ensure AI will help, rather than hinder both employees and clients. This includes installing apps to save staff members time on copywriting and administrative duties.

However, inflationary pressures have also meant budgets are tight for many publicsector bodies and organisations, which make up the majority of Kingsfield’s clients.

“The public sector is often under scrutiny when it comes to budgetary decisions,” continues Ian. “This is true from both a managerial perspective and a public one. For that reason, when going to tender, it is common for public sector organisations to choose the partner who offers the lowest prices. While the reasoning for this is understandable - and going to tender is likely the quickest way for procurement teams to get the tech they need at the right price - for a company such as Kingsfield, which prides itself on its commitment to providing the latest tech innovations, this can lead to roadblocks that cannot be avoided.

“Public sector budgets in general can often present difficulties in the procurement process. Budget cuts and public scrutiny lead organisations to be cautious with their finances.”

But thanks to tools such as Apple Financial Services, Aspinall says Kingsfield can offer organisations tailored solutions that fit them and their budgets, which has helped them to overcome this difficulty.

“AI will be a hot topic for years to come and tech specialists are already using various applications to the benefit of an employee’s working day. Kingsfield will continue to stay up-to-speed with all things AI, not only for the benefit of its employees but for clients too.”

Aspinall concludes: “Kingsfield aims to continue its pioneering spirit in the world of public sector technology, especially across the healthcare sector. The NHS has faced enormous pressures in recent years and will continue to do so without an uplift across Trusts in bespoke IT and technology support.

“By providing doctors and nurses with the absolute best in devices, Kingsfield aims to support healthcare professionals.

“Kingsfield will continue to promote and offer support for the biggest names in tech on a national scale, offering clients the very best hardware and services to streamline workflows and enhance productivity throughout the public sector.” 

“GROWTH HAS BEEN CEMENTED WITH A CONSISTENT SERIES OF NEW FRAMEWORK AND PARTNERSHIP WINS, TAKING KINGSFIELD TO NEW HEIGHTS UNDER BRIAN BOYS’ DIRECTION.”

ATTEND THE NETWORKING EVENT OF THE YEAR FOR UK SCALE-UPS

16TH NOVEMBER

The Awards will celebrate the best businesses in the UK. Guests will be treated to a four-course dinner, entertainment, the awards presentation and afterparty.

5 REASONS TO ATTEND

• A UNIQUE NETWORKING OPPORTUNITY

• THE PERFECT STAFF MOTIVATOR

• LUCRATIVE MARKETING & INVESTMENT OPPORTUNITIES

• PERSONAL GROWTH

• A NIGHT OF ENTERTAINMENT

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lewis raymond tayor

Adversity. A word associated with so many high-profile business figures since the dawn of time. James Dyson had 5,126 failed prototypes before coming up with his now legendary bagless vacuum. Selfmade multi-millionaire Inger Ellen Nicolaisen, Founder of Nikita Hair, overcame being raised by an alcoholic father and being a homeless 15-year-old with a daughter to care for. These inspirational stories shed light on the never-say-die attitude of entrepreneurship.

Lewis Raymond Taylor’s story is one of hardship and pain but it’s also one of the most beautiful examples of how taking responsibility for yourself and your actions can transform the trajectory of your life, both personally and professionally. We talk to Lewis about his upbringing, which included three prison sentences, how he’s overcoming the negative stereotype of the life coaching industry and his plans to build his company to become a unicorn in less than a decade.

COULD YOU TELL US ABOUT YOUR UPBRINGING?

My dad was verbally and physically abusive to me, and my mum was very emotionally disconnected as well, so I didn’t really have a nurturing family environment growing up. From a young age, I was naughty and acted out. As I got older, that led to criminality, things like shoplifting, criminal damage, and lighting fires. I was also sexually abused when I was 11, which contributed to my behaviour.

Ultimately, I had this need for significance and love, and I guess I was looking for attention in some way. I was expelled from school at 15 and then

I was sent to a Young Offender Institution by the time I was 18. I had three different mental health diagnoses over the years; antisocial personality disorder, emotionally unstable personality disorder, and Bipolar II disorder (BP-II). At one point, I slit both sides of my throat and was sectioned under the Mental Health Act. I even walked in and found my dad dead from his alcohol abuse at one point.

I went to prison three times in total. When I was serving my third sentence, I had the realisation that I couldn’t keep blaming everything and everyone around me and I had to take responsibility for myself. I started to engage with the services that are inside the prison. I read books, went to the gym, and did a rehab programme.

After serving my 18-month sentence, they picked me up from the prison gates and took me directly to the rehab centre in Portsmouth. I spent six months there doing a 12 Step recovery programme and, during it, they broke me down and rebuilt me. When I walked out of that place, I just felt lighter.

Cont. 

FROM PRISON SENTENCES TO BUILDING A SUCCESSFUL COACHING EMPIRE

I started to do some charity work as part of my probation and realised that it felt good to help people. During the 12 Step process, I had picked up so many powerful lessons going through the trials and tribulations, that I started to help people for free. I realised that these people are getting great results. This was about seven years ago now, and coaching was in its infancy, so I didn’t know what a life coach was. However, when I started to Google it and do a bit of research around it, I realised that maybe I could do it.

I did some training and built a coaching business to six figures in seven months and then the business just progressed really from there. I realised that I needed to move out of one-to-one into creating digital assets like courses, membership sites, technology, team members, automation, and things like that. The company has grown now to the point where we’re more of an ed-tech company. We have VR apps on the Oculus, we have our own app on App Store, and we provide education for other coaches that want to become a life coach. Essentially, we provide the academy to train you to become an accredited coach.

We had built a freedom-based passion-led online coaching platform where I could do this from anywhere in the world. When the pandemic hit, we quadrupled our revenue in a year and as it stands today, we have a team of 80 and clients in over 80 countries, with $7m (£5.6m) in annual revenue. On a personal level, I’m married to a beautiful Venezuelan woman, and we have our first child on the way.

THERE IS A NEGATIVE STIGMA OF LIFE COACHES IN THE BUSINESS COMMUNITY – BECAUSE THERE ARE SO MANY OF THEM PROMISING PEOPLE THE WORLD. HOW DO YOU OVERCOME THIS STIGMA?

The marketplace is really why we’ve created this platform. We verify the people on our platform, so they have to submit their credentials, along with a recorded coaching or consultancy session for us to actually observe. We watch it and give it a score, similar to an Experian credit score. However, the biggest thing is the escrow payment holding system. This means that people can’t lose their money because there’s an agreement upfront and the funds are only released once the results have been delivered, a little bit like Upwork or Fiverr. In terms of the negative opinion of it, I do believe it’s in a lot more industries than just coaching experiencing this. Coaching is the second fastest-growing sector in the world, it’s a $20bn (£16bn) industry globally and has a compound annual growth rate of 6.7%. It’s really grown since people were able to deliver it via an online video call, instead of in-person, but like any fast-growing industry, it does have its own teething problems. In our modern world of algorithms, if you seek out negative stories about something, you’ll continue to be fed negative stories about something. But I get to see the other side, which is the huge impact that people

are having on people’s lives. There are coaches who help thousands of people, who then go off to help thousands of people and you get this network marketing ripple effect of good things going throughout the world, in a way we’ve never seen before.

WHAT HAS YOUR FUNDING JOURNEY BEEN TO THIS POINT?

We’ve managed to build the company to a valuation of $25m (£20m) with no debt, no investment, and no personal funding. I didn’t even need to bootstrap it. When I went from those one-to-one sessions to launching a course, the first course made £17,000 and was reinvested into hiring a few staff. Before we knew it, we were making upwards of £500,000 a month. Now, we really want to scale up what we’re doing. For example, our Return on Ad Spend (ROAS) is 9:1, which means thatt for $1 we spend, we get $9 back.

We’re at the point where we have something that’s working very well, we want to do more of it and that’s why we want the investment. We initially did a community round, where we raised £1m, and now we’re into pre-Series A, where we’re looking to raise £2m. We have a plan for what we use that for, and then we’re looking to raise another £10m. We’re really going for it and have huge aspirations. We are forecasting to be a billion-dollar company in seven years.

COULD YOU TELL US A LITTLE MORE ABOUT YOUR COMPANY, THE COACHING MASTERS, AND WHAT LED YOU TO TAKE THE BIG STEP TO CREATE IT?

“COACHING IS THE SECOND FASTESTGROWING SECTOR IN THE WORLD, IT’S A $20BN (£16BN) INDUSTRY GLOBALLY AND HAS A COMPOUND ANNUAL GROWTH RATE OF 6.7%. IT’S REALLY GROWN SINCE PEOPLE WERE ABLE TO DELIVER IT VIA AN ONLINE VIDEO CALL, INSTEAD OF IN-PERSON.”

WE’RE ON THE TAIL END OF A MARKET WHERE TECH VALUATIONS WERE COMPLETELY THROUGH THE ROOF. HOW HAVE YOU FOUND THE APPETITE OF THE INVESTORS YOU’RE TALKING TO?

There are many examples of tech companies with huge valuations but are pre-revenue, but our valuation is based on traction. We got our evaluation done by an independent valuation expert. It ended up being a 46page report, and it was essentially done on a multiplier of how much money we’re making, rather than a forecast.

I know it sounds a little bit superficial, but I was living in Bali when we started talking to investors. I had blonde highlights and my tattoos out, so I don’t think the investors quite got the message of where we were going as a company. That is what led to a few people saying that it seems like a high-risk investment.

So, I moved back to London, dyed my hair brown again, and bought a suit. I felt I needed to shake some people’s hands again. Sometimes, playing investors at their own game needs to be done in business, to be able to build that trust and connection with people.

Since I’ve been back, we’ve had some people say that they couldn’t give us the

£2m investment because their smallest cheque size is £10m. Another said that they would have invested but had a similar company on the books already. I’m confident now that within the next two or three months, as I come back and show a little bit more mature persona, the £2m is going to be raised very soon.

HOW HAVE YOU FOUND GETTING THE RIGHT PEOPLE AROUND YOU TO HELP GROW THE BUSINESS?

When you’re a start-up, you can’t necessarily really afford to pay for people that have a

large amount of experience. I was able to apply myself to all of the departments within the company and understand how they work without really needing to dig too deep and know how to direct those teams. So, I wouldn’t say that there was this very selfsufficient team that I could just step out of, and it would continue to work.

It could be quite brutal at times, in terms of having to get rid of people, hiring new people, or changing things, and it can be quite stressful to keep things afloat and keep things growing. I found it difficult to find the right people at the right price point at the right time. It’s difficult to find people that are really good at something because if they’re really good in the entrepreneurial world, they’re going to be doing it for themselves, making their own money.

So, one of my biggest challenges has been finding the right people. I was a coach when I started the company. We were able to fill my spot, so I don’t need to do that anymore. We will continue to plug those gaps where I’ve had to oversee things in time and, maybe as we grow, we’ll come to a point where it’s time to change the CEO. It would be egocentric of me to not allow the company to develop because of me being in the way. 

“WE INITIALLY DID A COMMUNITY ROUND, WHERE WE RAISED £1M, AND NOW WE’RE INTO PRE-SERIES A, WHERE WE’RE LOOKING TO RAISE £2M. WE HAVE A PLAN FOR WHAT WE USE THAT FOR, AND THEN WE’RE LOOKING TO RAISE ANOTHER £10M.”

WHERE ARE COMPANIES APPLYING INNOVATION TO SUPPLY CHAIN AND LOGISTICS OPERATIONS?

The turbulence of the past two years has shown senior management the importance of supply chains and logistics. The need to innovate to adapt supply chain and logistics operations to challenging market conditions has never been more important. While every company’s challenges and opportunities are unique, it has also become truly important to establish whether there are any common technology innovation themes across most organisations.

With that in mind, Descartes, in conjunction with SAPIO Research, studied 1,000 supply chain and logistics executives’ opinions in the UK, Europe and North America to determine where organisations are placing their innovation emphasis and technology deployment focus. Some of the results will be surprising, while others show how market hype distorts innovation realities.

Chris Jones, EVP, Descartes reveals all and shares some of the key findings and insights from this study.

DIGITISATION INITIATIVES

Digitisation efforts are closely aligned with supply chain and logistics innovation, because they’re about transforming company performance in ways that allow customers to see the positive difference. Supply chain and logistics operations are very extensive, so it’s highly unlikely that companies would have digitisation programs that address the entirety of their operations. The study identified the top digitisation initiatives (see Figure 1) companies have focused on as order fulfilment (47%), customer experience (45%) and transportation processes (44%). Notice that these initiatives are largely “customer facing” as opposed to back office operations.

focus. In some cases, supply chain and logistics applications, such as warehouse management systems (WMS), simultaneously topped the list for most innovative part of the business and the list of those applications having the greatest need for innovation (see Figure 2).

APPLICATION INNOVATION REQUIREMENTS EXPLAINED

This is further elaborated on by considering application innovation according to three categories: most innovative; most in need of innovation; and the innovation focus over the next two years.

Most innovative

Over a quarter of respondents feel their companies are most innovative with their WMS (28%) and transportation tracking (26%). Transportation management systems (TMS) were third (25%); however, this figure rose to 28% for those who said senior management believe supply chain and logistics innovation is very important and declined to 18% for those who said senior management believe it less important.

Most in need of innovation

SUPPLY CHAIN AND LOGISTICS APPLICATIONS

The answers to three questions paint a picture of where companies believe they’re most innovative in their supply chain and logistics operations, where they have the greatest need for innovation and where they will focus innovation for the next two years. In general, no one application area dominated the results for the state of innovation today and future focus.

The degree of application innovation in a given area is also a function of its importance to the organisation and past innovation

WMS (24%) was also cited as the top area with the greatest need for innovation, followed closely by inventory management (22%). While inventory management is second, it’s fairly low, which is surprising given how many problems companies have experienced either with having excess inventory or not enough of the products that customers want.

Innovation focus next two years

The top focus areas for innovation for the next two years are customer experience (25%), TMS (24%) and WMS (23%). Customer experience was the highest priority for manufacturers, retailers and distributors, but the fourth highest priority for carriers and logistics services providers. TMS was the highest priority for carriers and logistics services providers, but the fourth highest priority for manufacturers, retailers and distributors.

Figure 1: Digitisation Initiatives

Source: Descartes

What areas in your organisation are the most innovative today?

What areas of supply chain and logistics technology in your organisation are in the greatest need for innovation?

Where is the greatest innovation focus for your organisation in the next 2 years?

ADVANCED COMPUTING TECHNOLOGIES

Advanced computing technology has been touted as the next wave of supply chain and logistics innovation, but it’s still early stage for most companies (see Figure 3). When looking at full deployments, with the exception of data analytics (40%), most advanced computing technologies such as machine learning (20%), artificial intelligence – non machine learning (17%) and robotic process automation (16%) are still in the early stages of full production use. For pilots or partial deployments, however, there is a lot of advanced computing technology activity in supply chain and logistics operations: robotic process automation (52%), machine learning (52%), data analytics (50%) and artificial intelligence – non machine learning (47%).

CONCLUSION: MOMENTUM EXISTS, BUT THERE’S WORK TO DO.

The last several years have been an accelerator of supply chain and logistics innovation with almost two-thirds (65%) of the study’s respondents indicating they’re increasing IT innovation funding. Given the scale and scope of supply chain and logistics, companies are focusing on transforming customer-facing processes and operations. No single supply chain or logistics application stands out as the dominant way to innovate, which speaks to the diversity of challenges and opportunities companies face and the need for a wide array of solutions. For many companies, they’re early in their advanced computing technology journeys, but the next two years could prove interesting as pilots and partial deployments come to fruition. What technologies is your company using to innovate its supply chain and logistics operations?

routinguk.descartes.com

Figure 2: Application Innovation

Source: Descartes

Figure 3: Deployment Maturity of Advanced Computing Technology

Sajid Javid MP, former Chancellor of the Exchequer, has caused alarm amongst some people by saying the salary of MPs should be doubled, and it can be paid for by halving the number from 650 to 325.

Their basic annual salary is £86,584. On top of this, they get rent paid for on a small London flat, or hotel costs covered, and their travel to and from London is reimbursed.

By most people’s standards, it’s a very high wage, one that many say is too high.

There’s a famous saying in politics: “When a Labour MP goes back to their local Labour Party meeting, in their constituency, they’re the best paid person in the room. When a Conservative MP goes to their local Conservative Association meeting, they’re the worst paid person in the room.”

The adage probably doesn’t apply to Labour MPs now, because many middle and topranking public sector workers, some of whom undoubtedly belong to the Party, have salaries far outstripping those of MPs. The Taxpayers Alliance estimates 2,759 council employees, alone, get paid more than £100,000 each year.

If we’re honest about it, being an MP, assuming one does the job properly – and some don’t – is an extremely unattractive occupation. You spend long hours in Westminster, away from your family if your constituency is outside the M25. On returning home, you often spend the weekend knocking on doors, attending local events, and holding advice surgeries.

MPs in the UK face incredible levels of intrusion, whether it’s the media investigating their private lives, members of the public taking photos of them whilst

WHO WOULD WANT TO BE AN MP?

they’re on the train, or CCTV footage being leaked.

Then there’s the abuse. The number of threats, extremely nasty social media posts, and even physical attacks are beyond belief. We’ve had two MPs murdered in the last seven years.

There is the precarious nature of the job. No matter how well an MP works, few know whether they’ll be in their job for any length of time. Some will lose their seat because of a national swing in opinion against their Party, some could be deselected by their local Party members, and others, even in safe seats, can be subject to their seats disappearing in boundary changes, as we’re seeing now.

Finally, there’s the financial rigmarole. The Independent Parliamentary Standards Authority (IPSA), through which MPs must process all their staffing, accommodation, travel,

and office expenses, is one of the most ridiculous, petty, jaundiced organisations to have been invented by humans. Most MPs need to employ someone for several hours each week simply to comply with IPSA procedures.

THIS ARTICLE IS WRITTEN FOR BUSINESS LEADER BY FORMER MP, BUSINESSMAN AND AUTHOR, SIMON DANCZUK

If all this weren’t enough for MPs, they are also caught up in the 2017 Money Laundering Regulations, which say financial institutions must identify Politically Exposed Persons (PEPs) and subject them to ‘enhanced customer due diligence’. The suggestion is that they might be more susceptible to being offered bribes or compromised by those seeking to corrupt the system. The latest high-profile example is Nigel Farage having difficulty opening bank accounts, other MPs reporting having their bank accounts closed, and former MPs not being able to use certain money transfer companies.

There are undoubtedly advantages to being a Member of Parliament. You can really help people with their problems. Public institutions and large corporates generally do listen to MPs when they raise concerns on behalf of a constituent. An MP worth their salt can hold the Government to account, get amendments made to legislation, or successfully champion a cause they know to be in the public’s interests.

Being an MP also gives you an insight into how the world works, it gives you access to study and examine a wide variety of issues and subjects in detail. Plus, you are your own boss. Whilst you generally have to toe the Party line, you set your own work priorities and focus on what is important to you.

There is also a little bit of status left in the role. You can share your views on a wide range of subjects and sometimes get listened to by a relatively large audience. And there is career progression. You can rise to the level of minister, secretary of state, or even Prime Minister, increasing your status and profile further, if that’s your thing. The crux of the matter comes down to whether the pros of being an MP outweigh the cons, and whether the salary level, taking everything into account, is a plus or a minus. Does it help attract talented people, who don’t have independent means, or is it resulting in attracting only those who will coast along, keep their heads down, and have little aspiration or ability for our country?

Looking at our current political situation, considering we have dozens of MPs already announcing they’re not bothering to stand at the next election, and considering the unattractive nature of being an MP, as unpalatable as it might at first seem, Sajid Javid could well be onto something. 

“THE CRUX OF THE MATTER COMES DOWN TO WHETHER THE PROS OF BEING AN MP OUTWEIGH THE CONS, AND WHETHER THE SALARY LEVEL, TAKING EVERYTHING INTO ACCOUNT, IS A PLUS OR A MINUS.”

THE LAND OF OPPORTUNITIES DRAWING BUSINESSES AWAY FROM LONDON

There’s so much more to the Midlands than Shakespeare, Stilton, and Paul Smith. With a strong, modern business services sector, a central location, comparatively cheaper overheads, and a great quality of life, the region is drawing companies away from the capital.

Often classified as an underdog, but with a £238bn economy, a population of over 10 million, and accounting for approximately 12% of the Gross Value Added, the Midlands is one to watch.

THE MIDLANDS

Recent research by Informi reveals the most entrepreneurial regions across the UK, and the West and East Midlands come out 6th and 7th respectively.

On reflection of the findings, Huw Moxon, Marketing Manager at Informi, comments: “While the country as a whole has experienced challenges in the aftermath of the Covid-19 pandemic, certain regions have shown resilience and demonstrated themselves as vibrant hubs for entrepreneurship and growth. This data emphasises the importance of regionspecific support systems and initiatives that enable entrepreneurship and business growth.”

Historically, the Midlands was associated with manufacturing and still boasts several global brands including Toyota, Jaguar, and Land Rover. However, the region’s industry repertoire is expanding.

HSBC moved its headquarters from London to Birmingham’s financial district, and Deutsche Bank, PricewaterhouseCoopers, and HM Revenue and Customs, also set up offices in the city. Furthermore, the Midlands Innovation Partnership, a collaboration between eight research-intensive universities, drives cutting-edge research, innovation, and skills development, growing a high-tech, high-skilled economy.

A NEW FRONTIER EMERGES

Louisa Harrison-Walker, CEO of the Sheffield Chamber of Commerce, praises the maturing investment landscape in Yorkshire, as investors recognise they no longer need to only work with South East/Golden Triangle businesses. Offering a solid Chamber of Commerce, the region is also home to Sheffield University, which is part of Northern Gritstone and the emerging ‘Northern triangle’, proving a core narrative on the world stage.

“Yorkshire is a quietly determined region, with worldclass facilities both in Academia and the private sector,” she says.

She goes on to say that indigenous start-ups are now scaling with the investment that has arrived.

“Significant funds are moving and investing in our region, and as other local cities become saturated and prices creep up, Sheffield offers a local and logical place to invest,” she adds.

Sheffield is known for its rich tradition and has grown to become one of the great economic powers in North England, boasting an ideal balance between nature and industry. The city is renowned for its steel industry, and its fast-growing economy is worth £7bn each year, with a GVA increase of £4bn since 1997, growing on average 5% every year.

Sheffield is a great international centre, and it is only a 30-minute drive from four

investors looking for the highest yields, with a low entry price compared to other UK cities and a fast-growing population.

EAST SIDE

An East Midlands company is flying the flag for ESG. Northampton-based company Cora was crowned Climate Champion of the Year at the recent Unlock Net Zero Live Awards. The inaugural awards ceremony recognised businesses and leaders in the UK housing sector going above and beyond on their journey to decarbonisation. Cora set the standard when it came to being an environmentally conscious housebuilder,

shifting to a profit-with-purpose model, with a key focus on sustainability and a target to become net zero by 2050.

The ‘Full speed ahead: bringing high-speed rail to the East Midlands’ report outlines the economic benefits of a high-speed rail in the region. When integrated with other projects such as the Midlands Rail Hub and electrification of the Midland Main Line, extending HS2 to the East Midlands will bring the region’s cities and towns closer together and enable easier connections.

A new report from Make UK and accountancy and business advisory firm BDO LLP shows that manufacturing is growing in importance within the East Midlands economy, with the sector accounting for 16.4% of the region’s economy in 2022 (an increase from 15.9% in 2021), and way above the national average of 10%. The report also shows an increase in 7,000 jobs in manufacturing in 2022 compared to 2021, up to 265,000.

WEST SIDE

Yiannis Maos MBE, CEO of TechWM, a not-for-profit community initiative that strives to be the voice for technology and digital across the West Midlands, reveals that businesses are choosing to set up and relocate to the West Midlands due to several factors, including the cost of operating, geographic location, the quality of life for their employees and access to a diverse and highly talented workforce.

“These are just some of the factors that are seeing the likes of Goldman Sachs, Advanced, and Tata Technologies choose the region over London. These reasons are also partly behind the West Midlands topping regional rankings for foreign investment and seeing the highest growth in the UK,” he adds.

Roy Quick, Sales Director at RDS, a specialist in R&D tax claims based in Birmingham, says the Midlands and Birmingham are great locations for manufacturers, engineers, and construction workers who make up a high percentage of the 800 clients they currently help.

“The region offers fantastic talent, and the location is central and offers us the opportunity to reach a range of different locations. Also, the NEC and various networking opportunities are fantastic,” he says.

By strengthening management capability in the region, a new growth model built on a skilled and confident managerial workforce is built, propelling the West Midlands towards a prosperous future.

Coventry and the West Midlands is a powerhouse of innovation and engineering, supported by advanced manufacturing and research, according to Julian Tranter, MD at Tom White Waste

“The positive investment and ‘open for business’ approach, showcasing the region to the global market, as well as Coventry being the city of culture last year and the Commonwealth Games all support the success that the region has seen,” he says.

The West Midlands Global Growth Programme is a new government-backed incentive package to further bolster trade and investment between the West Midlands and global markets.

DEMOGRAPHICS DYNAMISM

The Future High Streets Fund has given grants totalling more than £220m to 17 communities in the Midlands Engine area. Nearly 880,000 firms are located in the Midlands. According to the UK Regional Trade in Goods Statistics 2021, the Midlands area accounted for 20.1% of England’s exports (West Midlands - 11.3% and East Midlands - 8.8%) which was above London (15.6%) and the South East (17.8%).

A demographic aspect is also in play. Birmingham is listed as the most ethnically and culturally diverse city in the UK by the World Population Review.

Maos reveals that urban areas have so much potential if harnessed in the right way.

He says, “That’s why it’s encouraging to see large-scale partnerships being formed, such as the recently announced collaboration between Bruntwood Sci-Tech, Aston University, and Birmingham City Council, and their plans for a large-scale innovation cluster to supercharge Birmingham’s growth. We need to see more strategic partnerships like this across the Midlands so that the region can fully realise its massive potential.”

Business confidence increased in both the East and West Midlands in June, according to the latest figures from Lloyds Bank Commercial Banking. Business confidence in the East Midlands rose 35 points in the fifth month of the year to 52%, according to the latest Business Barometer.

CHALLENGES

New analysis from the Chartered Management Institute (CMI) shows huge demand for management skills in the West Midlands, with demand not meeting supply. Job postings mentioning “management” increased by 75% and those mentioning “leadership” increased by 280% over the past decade.

Further research indicates a significant disparity between the number of managerial job postings (177,965) and the available CVs with management skills (91,902) between April 2021 and April 2023.

“THE REGION OFFERS FANTASTIC TALENT, AND THE LOCATION IS CENTRAL AND OFFERS US THE OPPORTUNITY TO REACH A RANGE OF DIFFERENT LOCATIONS.”

Roy Quick

UK REGIONAL TRADE IN GOODS STATISTICS 2021

huge issues for development,” he adds.

KEY TO SUCCESS

Dr Fiona Aldridge, Head of Insight & Intelligence at the West Midlands Combined Authority, emphasises the critical role of leadership and management capability in advancing the West Midlands economy:

“Our region’s leadership and management capability will be one of the most critical factors in driving forward our West Midlands economy.

“A priority commitment for the West Midlands Combined Authority is therefore to invest more into leadership and management skills. This investment will support our Plan for Growth, an ambitious strategy which aims to unlock the full potential of businesses and organisations that are grouped into several key growth clusters.

595 Midlands companies, adding more than 2,370 jobs, and attracting £236m in private sector co-investment.

This is a welcomed reprieve, given the current state of the world economy, and companies on the ground are already seeing results.

“RDS has grown 300% in the last year, and we believe with our new office and the team that we can scale up and perhaps double the headcount in our Birmingham office. The business Growth Fund acquired a percentage of our company, and they are pivotal in our plans to grow further over the coming months,” says Quick.

Analysis by the CMI finds that despite being the 7th largest contributor to the UK economy, the West Midlands faces significant challenges in terms of management and leadership training, particularly in SMEs. The West Midlands is facing a triple gap: weak productivity, skills mismatch, and inclusion challenges which, if left unaddressed, will hold back growth in the region and the wider UK.

Quick points out that there are additional challenges.

He says, “The access and congestion around Birmingham Business Park can be a challenge for commuting to and from the office and be problematic when our teams are visiting clients.”

Maos thinks it’s more about understanding where the growth will come from and focusing on where we can build on current strengths.

“For instance, in the West Midlands, we have a ‘Plan for Growth’ that identifies eight clusters that can supercharge the local economy, these include health-tech, manufacturing and the creative sectors. By focusing on these sectors, we can strategically look at innovation, funding opportunities and startup support to ensure they evolve and become key drivers of economic growth,” he says.

Tranter highlights the cost of energy as a significant challenge for business, noting that this is the case nationally, rather than region-specific.

“However, cost and availability of land are

“Sectors ranging from advanced manufacturing to the creative industries will benefit from our leadership and management training – and, importantly, we will be looking to support those running smaller and medium-sized businesses, as well as reaching people who might not otherwise get access to this type of support,” she adds.

By 2030, the Midland Engine Partnership wants to narrow the productivity gap such that it is at, or above, the national average.

FUTURE POSSIBILITIES

A £400m investment fund to encourage SME growth in the Midlands will be introduced in 2024. The British Business Bank is implementing the Midlands Engine Investment Fund II (MEIF), as part of measures to level up access to financing in the region through loan and equity funds. Since it began, the MEIF has contributed more than £200m to the Midlands, helping

London is a capital full of potential. The Midlands is a trailblazer. Maos doesn’t think one will cancel the other and is optimistic about the future.

“London is still a unique and amazing place but I personally see it becoming a hub for predominantly financial services and international high-growth ventures. This will leave a lot of scope for more growth outside of the capital, especially in emerging and evolving sectors,” he concludes.

Times may be tough, but enterprise in the UK keeps going. More specifically, in the Midlands.

In the wise words of the Midlands’ own William Shakespeare: “Some are born great, some achieve greatness, and some have greatness thrust upon them.” 

“OUR REGION’S LEADERSHIP AND MANAGEMENT CAPABILITY WILL BE ONE OF THE MOST CRITICAL FACTORS IN DRIVING FORWARD OUR WEST MIDLANDS ECONOMY.”

Dr Fiona Aldridge

FINANCIAL SERVICES

GLOBAL FINTECH GIANT APPOINTS NEW CHIEF PRODUCT OFFICER

SumUp has appointed Anna Kuriakose as its new Chief Product Officer. Joining in mid-June 2023 and based in London, Anna brings a wealth of experience from her previous roles at Meta, JustGiving, and TotallyMoney.

With a background as an early Product Manager at Skype, she will focus on strengthening SumUp’s product team and implementing the company’s product strategy. Anna’s goal is to align and develop SumUp’s diverse range of products to effectively meet the needs of small businesses and address the daily challenges they face.

NEW CEO TO LEAD EXPANSION OF VIRGIN EXPERIENCE DAYS

Virgin Experience Days, a leading player in the experience gifting markets in the UK and US, has announced the appointment of Christoph Homann as its new CEO. With a successful track record in the digital gift card business and experience in consumer digital platform companies like eBay and Ticketmaster, Christoph brings valuable expertise to drive strategic growth.

PKF FRANCIS CLARK BOLSTERS LEADERSHIP TEAM WITH NEW DIRECTOR APPOINTMENT

PKF Francis Clark, a leading accountancy firm, has expanded its VAT and customs team with the addition of Director Joe Francis. With two decades of taxation experience and a specialisation in indirect taxes, Joe joins from Grant Thornton and has a strong background in accountancy firms in the Southampton area.

PKF Francis Clark boasts one of the country’s largest and most experienced VAT, customs, and indirect tax advisory teams. The firm’s marine specialists also provide valuable business support to British Marine, a prominent industry organization in the leisure, superyacht, and small commercial marine sector.

CONSULTANCY

He has a proven history of revenue and EBITDA growth, European expansion, and successful investor exits. Under Christoph’s leadership, Virgin Experience Days will continue its expansion plans in both the UK and US markets.

CHALLENGER CONSULTANCY FIRM SECURES RUGBY LEGEND AS NEW PARTNER

Elixirr has appointed former Springboks rugby captain and entrepreneur, Bob Skinstad, as Partner. Skinstad's diverse background brings extensive boardroom and advisory experience to enhance Elixirr's business development capabilities. With a focus on expanding Elixirr's sports and media services network, Skinstad joins during a period of remarkable growth in this sector.

▴ Anna Kuriakose, Chief Product Officer – SumUp

FINANCIAL SERVICES

EMPLOYMENT & SKILLS

VENTURE INVESTOR ANNOUNCES THREE SENIOR PROMOTIONS

Notion Capital, the European venture investor in business software and fintech, has announced three senior promotions, including Itxaso del Palacio as General Partner and Stephanie Opdam and Kamil Mieczakowski as Partners. Itxaso, a Spanish-Basque national, brings significant expertise to Notion with her background in investment and academia.

Opdam and Mieczakowski, Dutch and Polish nationals respectively, have made substantial contributions to strategy, leadership, and identifying promising companies for investment. In addition, Notion has successfully closed its new €300m (£256.3m) fund, Notion Capital V SCSp, reaching its ‘hard cap.’

GEMMA COLES APPOINTED AS CEO TO ACCELERATE GROWTH

UK-based international property portal, Kyero, has appointed Gemma Coles as its new Chief Executive Officer. Coles takes the reins from Co-Founders Martin and Louise Dell, who established the business in 2003 with an initial investment of £5,000.

Since then, Kyero has grown to become the largest international property portal in the UK, featuring over 750,000 properties for sale across Europe and generating a turnover of £4m. Coles, who joined Kyero as Managing Director in 2020, has demonstrated strong leadership and delivered a remarkable 50% revenue growth despite the challenges of Brexit and the Covid-19 pandemic.

EXPERIENCED TELECOM EXECUTIVE JOINS LYCA MOBILE AS CEO

Lyca Mobile has appointed Richard Schäfer as its new CEO. Schäfer will also take on the role of Lyca Group CEO. With over 22 years of experience in the UK and international telecommunications sector, including positions at Three UK and Vodafone UK, Schäfer brings a wealth of expertise to drive the company’s growth.

Schäfer’s appointment marks an exciting new chapter for Lyca Mobile as it focuses on delivering value and expanding its services.

LAURA WALL JOINS DEAZY AS HEAD OF MARKETING

Developer marketplace platform, Deazy, has appointed Laura Wall as Head of Marketing to fuel its ongoing growth and solidify its reputation as a go-to source of tech talent for enterprises. Wall, previously Global Head of Marketing at Codurance, brings a wealth of experience in targeting CTOs and Heads of Engineering to navigate cloud migration journeys.

With her extensive tech and digital background, Wall will spearhead business growth, particularly within the enterprise sector. Deazy, recognized as the 13th fastest-growing UK tech company in revenue by Deloitte, connects enterprises with curated development teams, offering expertise, capacity, and flexibility.

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BE A BETTER BOSS: LEARN TO BUILD GREAT TEAMS AND LEAD ANY ORGANISATION TO SUCCESS

BY: HENRY ENGELHARDT

In his book “Be a Better Boss,” Henry Engelhardt, Founder and ex-CEO of Admiral Group plc, emphasises the importance of effective leadership for both individuals and organisations. Supported by his extensive experience, Engelhardt shares strategies derived from his success in growing Admiral’s value to £10bn in under 30 years. The book offers practical insights to transform basic principles into essential management techniques

“This is a book all leaders should read. Henry generously shares his thoughts, insights and experiences in a way that is

accessible to everyone. We can all learn from it and challenge our own leadership style and actions.” – Annette Court, Chair of WH Smith PLC

THE SECRET SAUCE: SUPERSCALE YOUR BUSINESS AND EMPOWER YOUR TALENT WITH EMPATHETIC LEADERSHIP

SAM SMITH

For entrepreneurs aiming to achieve their first million in revenue, building a reliable team that supports business scalability is crucial. This book reveals a formula for cultivating an inclusive culture that values employees. Stand out from competitors by incorporating energising elements that drive growth and seize business opportunities. Author Sam Smith, the esteemed Founder and ex-CEO of finnCap Group, shares her impressive experience in over 200 transactions and advises scale-up companies.

THE BRAND MAPPING STRATEGY: DESIGN, BUILD, AND ACCELERATE YOUR BRAND

Karen Tiber Leland, the Founder of Sterling Marketing Group, presents “The Brand Mapping Strategy,” a guide for entrepreneurs and business leaders. This book emphasises the importance of intentional brand creation, offering strategies and practices to cultivate industry influence. Drawing from real-life successes, Leland equips readers with the tools needed to become industry leaders through effective branding.

“How can you make a brand synonymous with leadership, intelligence, and integrity? Karen Leland answers these questions and more with insight, warmth, and wit. This is a book that will help you raise your profile and turn heads.” – John Paul Rollert, Harvard Extension School

GROW AND SELL YOUR START-UP: HOW TO CREATE A BUSINESS YOU CAN SELL FOR MILLIONS

BY: FIONA HUDSON-KELLY

Experienced entrepreneur Fiona Hudson-Kelly imparts her wisdom in a new book “Grow and Sell Your Start-Up”, recounting her ventures of building and selling two profitable businesses. Through practical advice and firsthand experiences, Fiona equips aspiring entrepreneurs with crucial knowledge and step-by-step instructions. This valuable resource enhances the chances of achieving a lucrative business sale in the future. “No-nonsense and straight talking! Fiona Hudson-Kelly is an entrepreneur, who knows exactly what it takes to start, grow and successfully sell a business.”

– Duncan Cheatle, Founder of Helm

21ST March 2024

Edgbaston Stadium, Birmingham

A ground-breaking conference that will unite the most exceptional and visionary minds from all corners of the UK for an extraordinary day of growth and inspiration.

• Immerse in game-changing content from world-class speakers who revolutionised their industries.

• Gain invaluable insights from inspirational leaders who scaled their businesses and unlock their secrets to success.

• Meet expert partners eager to elevate businesses to unprecedented heights.

Connect your brand with the decision makers at the UK’s leading event for scaling & high growth companies.

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