Business Leader Magazine: October/November 2023

We take a deep dive into training and recruitment, looking into its state post-Covid and unveiling the successes and where things need to be improved.

EDITOR’S COMMENT

Welcome to Q4 and the latest edition of Business Leader magazine. Exciting news came out of our HQ last month, with HomeServe PLC Founder and Chairman, Richard Harpin, acquiring the publication from the Ascot Group. The deal signals a new era in our journey to solidifying our place as the voice for UK businesses, and the team are excited for the future. Andrew McLaughlan takes over as CEO of Business Leader, with Founder Andrew Scott staying with the business as Chairman.

In this edition, we explore the world of co-founder prenups, look at the state of the South West economy, ask if the reign of the outspoken leader is over for good, and much more. The team took the trip to West London for our latest cover interview with the global icon that is Kelly Hoppen. Meeting Kelly at her beautiful design studio, we discussed her upbringing, building her “overnight” success over more than four decades, and her time on Dragons’ Den.

We also take a deep dive into the cost of UK visas and the effect it’s having on our talent pool, highlight the top 32 manufacturing stars to watch, and ask what effect a Labour Government would have on business. Thanks for reading our publication and, as always, we want to hear from you. Reach out to us if you have any feedback on this edition through LinkedIn or pop us an email.

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 - Sales Director

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

Lee Irvine - Head of Multimedia and Video

E: lee.irvine@businessleader.co.uk

CIRCULATION

Adrian Warburton - Circulation Manager

E: adrian.warburton@businessleader.co.uk

MANAGEMENT

Andrew McLaughlan - CEO

E: andrew.mclaughlan@businessleader.co.uk

Andrew Scott - Chairman

E: andrew@businessleader.co.uk

Oli Ballard - Director

E: oli.ballard@businessleader.co.uk

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 SMES PRIORITISE SALES BOOST ACCORDING TO AMEX SURVEY

According to the latest research from American Express, the majority of small and medium-sized businesses (SMEs) in the UK are focusing on increasing sales by intensifying marketing efforts and investing in new products and services. The annual Business Barometer, surveying 1,000 UK SMEs, revealed that 64% of respondents are diversifying customer offerings to strengthen business performance.

Growth strategies include enhancing customer communications (43%), introducing new services (38%), offering special deals (32%), and ramping up marketing activities (41%). The study also highlights the importance of innovation, with 32% planning to introduce new payment methods. American Express has relaunched its campaign highlighting the benefits of accepting Amex for small businesses.

UK TO REJOIN £85BN EU SCIENCE RESEARCH PROGRAM HORIZON EUROPE

The UK Government has unveiled plans to rejoin Horizon Europe, the £85bn EU science research initiative, ending its two-year absence postBrexit. The UK's earlier exclusion resulted from the failure to negotiate a continued participation agreement. Downing Street revealed that the reentry into Horizon would occur through a tailored arrangement with the EU, and the UK will be a fully associated member until 2027.

This collaboration, involving Europe's top research institutions and tech firms, allows EU member states to contribute funds, which are then distributed based on merit. The move opens doors for UK firms to collaborate with nations like Norway, New Zealand, and Israel, who are also part of the program. UK researchers can now apply for grants and project participation.

INVESTMENT FIRM LAUNCHES £1BN GROWTH FUND

UK Fintech Growth Partners, a London-based investment firm, has unveiled a £1bn growth fund aimed at bolstering the UK's rapidly expanding fintech sector. This initiative comes in response to a recent downturn in fintech funding, with a year-on-year drop of 8% in 2022. In H1 2023, funding reached $2.9bn (£2.2bn), representing a 37% decline compared to H2 2022, according to Innovate Finance data.

With over 1,600 fintech firms currently in the UK, this number is anticipated to double by 2030. Supported by leading entities like Mastercard, Barclays, NatWest, the London Stock Exchange Group, and Peel Hunt, the fund's objective is to assist fintech companies in the Series B to pre-IPO phase. The initial capital injection is expected in Q4 2023, followed by four to eight annual investments ranging from £10m to £100m.

UK GOVERNMENT GRANTS £75M TO BMW FOR ELECTRIC MINI PRODUCTION IN OXFORD

BMW is set to produce its forthcoming electric Mini in Oxford, thanks to a £75m Government investment. The German automaker is poised to disclose details of its £600m investment, anticipated to safeguard around 4,000 jobs. With BMW's forthcoming announcement, recent investments in the UK's automotive sector will surpass £6bn, according to Government officials.

The funding is aimed at converting the Cowley plant to all-electric production by 2030. Prime Minister Rishi Sunak stated that the Government's support is securing jobs and boosting the economy, making the UK "the best place to build cars of the future.”

Susannah Streeter, Head of Money and Markets, Hargreaves Lansdown says: “There will be relief for thousands of car workers in the UK today as BMW is set to reveal the details of plans to build two new electric Mini models at its plants near Oxford. Concerns had been rising about the lack of infrastructure in the UK, particularly plants to build batteries, but funding from the Government’s Automotive Transformation Fund has clearly helped clinch this deal.

“This will help secure the future for 4,000 employees who currently work at the plants, but there will be knock-on benefits across supply chains and also ancillary services which support the workforces in the region. News of the development may also help propel interest in EV ownership, given the iconic nature of the mini brand here in the UK.”

UK BUSINESSES HIT WITH £75M IN FINES DUE TO SLOPPY PAYROLL

New data from HM Revenue and Customs (HMRC), obtained by HR and finance expert MHR, reveals the substantial financial impact of incorrect or missing payroll reporting on UK businesses. HMRC has imposed penalty charges totalling £75,154,200 since 2020 on firms repeatedly failing to comply with payroll reporting requirements, with 27% of this sum imposed in the past financial year (April 2022 to April 2023).

This significant financial burden underscores the need for businesses to adopt automated technology for accurate reporting and avoid such needless penalties, particularly as many companies continue to report manually.

SURVEY REVEALS URGENT NEED FOR INNOVATION AMID ECONOMIC UNCERTAINTY

A recent survey conducted by Miro, the visual workspace for innovation, underscores the unanimous agreement among business leaders and information workers that innovation is vital for success. However, economic uncertainty, fear, and outdated practices hinder many from capitalising on this opportunity.

Globally, 98% of leaders and 90% of information workers view innovation as

urgent, with 79% of leaders and 76% of workers stating it's necessary for competitive advantage. Despite this consensus, economic uncertainty causes 57% of leaders to perceive innovation as a luxury and 62% admit fear obstructs innovation efforts. Outdated technology and cross-functional collaboration challenges are also significant barriers, cited by both leaders and workers.

REPORT CALLS FOR REGIONAL INVESTMENT TO SUPERCHARGE UK SERVICES EXPORTS

A report titled "Global Horizons: Realising the Services Exports Potential of UK Nations and Regions" has highlighted the need to address regional disparities in service exports across the UK. The report, developed by the Institute of Export & International Trade in partnership with Flint Global, was presented at a parliamentary event.

It emphasises that improvements in connectivity, education, and immigration policies are crucial to narrowing regional gaps. While services contribute significantly to the UK's economy, they are concentrated in London and the South East. The report recommends investments in infrastructure, education, and research and development at both national and regional levels to boost services exports and foster economic growth.

UK EMPLOYEES LACK CONFIDENCE IN WHISTLEBLOWING POLICIES, REVEALS SURVEY

A survey conducted by HR software firm Personio has unveiled a significant disparity between UK employers' and employees' confidence in workplace misconduct handling. While 51% of employers expressed extreme confidence in their misconduct management, only 27% of employees shared that sentiment.

Moreover, 91% of UK employees expressed concerns about retaliation against whistleblowers. With UK whistleblowing laws under review and new legislation in place across Europe, organisations are urged to establish safe and anonymous channels for whistleblowing. Despite 75% of surveyed employers claiming to have a whistleblowing policy, 27% of employees were unaware of their organisation's policy.

40% OF MANUFACTURING SMES BELIEVE CONDITIONS ARE WORSE NOW THAN DURING PANDEMIC

New research from Bibby Financial Services (BFS) highlights the substantial impact of current economic conditions on small and medium-sized manufacturing enterprises (SMEs) worldwide. In a survey spanning nine key international markets, 40% of manufacturers agree that global business conditions are currently worse than during the pandemic, with 27% stating that the situation is worse than following the global financial crisis.

The outlook for the sector is also pessimistic, with only 16% believing in a strengthening global economy, while 13% still consider a recession a possibility. Top concerns for SME manufacturers include inflation (56%), energy costs (55%), and economic uncertainty (29%).

Despite these challenges, 86% remain confident in their business prospects for the year, with 72% anticipating increased sales in the next six months.

Jonathan Andrew – Global CEO, Bibby Financial Services

84% OF UK AND IRELAND BUSINESSES HAVE ADOPTED AI

New research from global consulting firm Slalom indicates that 84% of businesses in the UK and Ireland have adopted AI in some capacity. Contrary to the perception of AI hesitancy, only 13% of businesses have not yet ventured into AI. Most businesses fall into the exploratory stage (26%), having conducted successful trials and now considering integration.

Another 24% are confident, with AI tools already integrated across their organisations. A pioneering 6% have bespoke AI solutions and a clear adoption strategy. Senior executives tend to trust AI more, with 97% of C-suite respondents and 93% of business owners finding it trustworthy.

REPORT UNVEILS WHAT TOMORROW’S C-SUITE WILL LOOK LIKE

Leadership Dynamics, the proprietary platform of The LCap Group, has released insights into the future of the C-Suite, emphasising the role of AI-driven leadership in the corporate world. The report predicts the rise of new C-Suite positions, including Chief Supply Chain Officer, highlighting the importance of global operations, Chief AI Officer (CAIO) to lead organisations into an AI-driven future, Chief Growth Officer (CGO) emphasising technology and customer-centricity, and Chief Empowerment Officer (CEmO) signifying a shift in leadership dynamics.

As businesses navigate rapid technological changes, succession planning gains importance in preparing leaders for roles that may emerge in the future. The report provides a roadmap for AI adoption and addressing associated challenges.

RICHARD HARPIN COMPLETES ACQUISITION OF BUSINESS LEADER

The Ascot Group has finalised the sale of Business Leader, its B2B media and events firm, to Richard Harpin, Founder and Chairman of HomeServe PLC. Business Leader caters to ambitious entrepreneurs, professionals, and business leaders across the UK through various channels, including a print magazine, newsletters, podcasts, and a news website.

It is also renowned for hosting prominent business events like the Scale-Up Awards. With Richard Harpin's backing, Business Leader aims to evolve into an influential publication for UK entrepreneurs, offering guidance, fostering networking, knowledge sharing, and inspiring leaders among the nation's 110,000 medium-sized businesses. Andrew McLaughlan will assume the role of CEO in this transition.

NEW

NEW ASSET FINANCING IS UP 9.7% IN THE PAST YEAR

Market analysis by debt advisory experts, Sirius Property Finance, reveals a 9.7% annual surge in new lending through asset financing, amounting to £31bn. This growth is significantly driven by the service and construction industries. Asset financing enables businesses to expand without the hefty upfront costs of essential operational equipment, opting for agreed periodic payments instead. Businesses prefer asset financing as it's often more cost-effective than other financing methods, although it may entail equipment usage restrictions. In 2022, commercial vehicles, company cars, and plant and machinery equipment were the top assets acquired by UK businesses, together accounting for 79% of new lending.

TECH NATION RELAUNCH DATE CONFIRMED

Tech Nation, the start-up growth network that ceased operations in March, is making a comeback during Birmingham Tech Week this October. After losing out on a £12m Government grant to Barclays Eagle Labs earlier this year, Tech Nation closed its doors but was subsequently acquired by the Founders Forum Group in April. Carolyn Dawson, CEO of the Founders Forum Group, will unveil the vision for "Tech Nation 2.0" during the official relaunch on October 16th.

The revived Tech Nation will reinstate its four start-up growth programs: Libra for ethnic minority founders, Rising Stars for earlystage start-ups, The Climate Programme for climate tech firms, and Future Fifty for late-stage businesses.

FIRST CLOSE COMPLETED FOR SCVC’S LATEST $100M DEEP TECH FUND

SCVC, an early-stage deep tech venture capital firm, has announced the first close of its second fund, aiming for up to $100m (£80m). The Bristol-based firm, founded in 2020, focuses on advanced technologies to enhance health and sustainability, spanning biotech to quantum tech.

The fund will target pre-seed and seed stages, with initial investments ranging from $500,000 (£401,000) to $3m (£2.4m), along with follow-on funding for Series A rounds up to $7m (£5.6m) for top-performing start-ups. VyperCore, a RISC-V startup, is the fund's first investment, and another in a gene therapy platform start-up is imminent.

16TH NOVEMBER 2023

YOUR CHANCE TO ATTEND THE NETWORKING EVENT OF THE YEAR FOR UK SCALE-UPS

Bought to you Business Leader, these awards will celebrate the best businesses in the UK. Guests will be treated to a night of entertainment, with unique networking opportunities and the perfect staff motivator to show personal growth.

Sponsored By:

BUILDING A

HOW KELLY HOPPEN CBE ESTABLISHED A GLOBAL BRAND HER OWN WAY

She has an unstoppable worldwide brand, her name has become a verb synonymous with class and style, she’s a former Dragon, a renowned presenter and author, and a champion of British enterprise. Kelly Hoppen is without doubt an icon.

However, Kelly’s story isn’t one of overnight success. She was relentlessly bullied at school, she’s dyslexic, she suffered from severely low self-esteem, and her father passed away when she was just 16 years old. At 16 and a half, she convinced her stepfather’s friend to let her redesign his kitchen. Around this time, her friend was having an affair with a famous racing driver, so she became the interior designer of his house as a front to their affair… and the rest, as they say, is history.

Over the next four decades, Kelly has worked for some of the most well-known names on the planet, from the Beckhams to P. Diddy, and worked with homes, yachts, jets, hotels, restaurants, and more. She’s written over a dozen books and won numerous awards. We met up with Kelly at her studio in West London to talk about how business has changed, building a global brand, being a Dragon, and more.

YOU STARTED YOUR BUSINESS BEFORE THE AGE OF GOOGLE AND SOCIAL MEDIA. DO YOU THINK YOU’D STILL BE SUCCESSFUL IF YOU STARTED YOUR BUSINESS TODAY?

If I could rule the world for a day, I would shut down technology, because I think people need to really understand what it is to go and find creativity and use your imagination. When I started my business, I would look at magazines, go to libraries and I would get in my little beaten-up old car and drive to find things like fabric. My style came from my travelling and my imagination, whereas today, you go on Pinterest, social media, or Google and you can copy it.

I wouldn’t want to change my journey. I like the way my business grew organically, and I still feel it grows organically to this day. I think everything today is so instant, and I’m not sure that I would have had the same life and the enjoyment that I got out of it. If you’re good enough, you can be very successful very quickly today, but I think there’s also a massive amount of competition.

I am so glad I didn’t have to see what everyone else was doing when I first started out because I was just following my own path and my own destiny. I remember over the years being asked, “what great designers do you admire?” and I didn’t know because I was in my own little bubble.

YOU’VE MENTIONED BEFORE THAT YOU WERE QUITE SHY GROWING UP. HOW DID YOU OVERCOME THIS CONSIDERING NETWORKING HAS PLAYED A BIG PART IN GROWING YOUR BUSINESS AND BRAND?

My ex-husband Ed (Miller) was really good for me, in that he was almost part of my team. I would host these events, and I would be so nervous, but he would be right there with me. There was an incredible PR company called Camron PR, and I worked with Judy Dobias to start this networking thing that really took off. The events were quite forward-thinking because everyone had to come with a business card, and I would say, “you cannot leave without exchanging cards because something will come out of it.” People really respected me for sharing, and to grow anything in life - it doesn’t matter what it is - you have to share. If you give, you get back.

Another key moment came from working with David Zelman, who is a life coach in New York. I had one session with him in his corner office, and he explained to me that if you run a business and your name is at the top, everybody underneath has to feel like it’s their business. He also showed me that if you share every piece of knowledge you have, your business will become bigger. This is part of why I started writing books. I came away from the session thinking that the sky was the limit. I had to just keep on going because I thought I had reached that point of success, and he showed me I hadn’t even started.

YOU’VE NEVER RAISED EXTERNAL FUNDING FOR YOUR BUSINESS. WAS THAT A VERY SPECIFIC CHOICE?

I’m a grafter. I get up every day at 5:40, have my black coffee, and I’m in the gym. That’s my moment to prepare for the day, and then I come to work. People have asked me for years why I still work, and I just say it’s my life and I love it. It never ever occurred to me to go and ask somebody for money, I just worked to make money. Maybe sometime down the line, I might look to sell some of the business, but for the 40+ years I’ve been doing this, I’ve wanted to own 100% of it.

DO YOU CONSIDER YOURSELF A COMPETITIVE PERSON?

I wouldn’t class myself as competitive, I would say that I don’t like to fail. I’m not somebody that goes up against people because, under this stern businesswoman, I do have a nice nature, but I don’t like to fail. Any entrepreneur will know that if you fail, it doesn’t matter because you’ve already got another idea. That’s something I try and teach young people that you shouldn’t hold on to something so much that if it doesn’t work or you’ll never move forward.

“PEOPLE HAVE ASKED ME FOR YEARS WHY I STILL WORK, AND I JUST SAY IT’S MY LIFE AND I LOVE IT.”

WHEN YOU GOT THE OFFER TO BE ON DRAGONS’ DEN, DID IT COME AS A SURPRISE AND HAD YOU DONE MUCH INVESTING BEFORE?

I did invest in small businesses but the call to be a Dragon definitely came out of the blue. I thought it was a great opportunity but then I thought “what am I doing?” I remember the night before filming, I got a reassuring call from Duncan Bannatyne saying that I’d be fine.

I do wish that I could do it now. I almost feel like I was too green behind the ears to do it and I’ve learnt so much since then. I loved doing the show, I loved all of the Dragons, but I hadn’t factored in that it wasn’t just the 21 days of filming. Once you invested in something, you had to run those businesses. My thing was I wanted to invest in young entrepreneurs, which I did, but they need a lot of time, so I had to employ more people etc. I still watch the show though, I think it’s brilliant.

MENTORSHIP, NOT JUST IN THE DEN, IS VERY IMPORTANT TO YOU. WHY IS THIS?

Maybe it’s because I started my own business so young. I have a large following on social media, and I came to the realisation of how powerful it was, especially after the Covid-19 lockdowns. Every day, I walk down the street and people stop me saying, “if it wasn’t for you, and what you were saying and teaching me, I wouldn’t have got through it.” I’m one of those people that doesn’t quite understand social media, but I started to understand how powerful it could be as a tool to help people. I still do the teaching and mentorship on Instagram, and I think it’s really important because people are struggling right now.

YOU RUN A GLOBAL BUSINESS AND BRAND. HAVE YOU COME ACROSS ANY PRACTICES THAT YOU WISH WE APPLIED HERE IN THE UK?

As the world has become smaller, I think you find fewer things to discover. What I’ve always loved about travel was that you would go to New York, and you’d go to a diner because you hadn’t been to one in London, or you go to China and the food and their manners would blow you away. I believe that every culture should own what it has. We have a rich history in Britain, that’s who we are. I think if we changed and became like another country, then it becomes less exciting.

HOW DO YOU COMPARE THE DOOM AND GLOOM WE HEAR ABOUT THE CURRENT CLIMATE TO OTHER ECONOMIC CRISES THROUGHOUT YOUR 40-PLUS-YEAR BUSINESS CAREER?

I’ve lived through a global recession before, and I think that was very frightening. When you suddenly hear the word ‘global’, it hits home that it’s bigger than just our country. But we survived our previous global recession, and we will survive this. Everyone said after Brexit “give it eight years”, but we didn’t factor in Covid-19, which has probably been the worst thing I’ve lived through.

Everything always works itself out, and inflation will plateau. Unfortunately, the cost-of-living for people is where the problem is. The bigger the divide between rich, middle, and poor, the bigger the problem is, so we have to try and make that work better.

HOW HAS YOUR BUSINESS BEEN AFFECTED BY ONGOING SUPPLY CHAIN ISSUES, SUCH AS THE WAR IN UKRAINE?

Across the board, things are taking longer. Brexit hasn’t helped and there are some companies that will not supply at all. If you take our business, for example, we’re building a 50,000 square foot house in Hong Kong, or Miami to get things from A to B, with the price increases, and the lack of stock… Who would have known that when you went to buy a sofa, it would take six months? That is a small price to pay compared to real-world issues, but in terms of my business, it has definitely affected us.

That’s where you learn to factor it in, and you find other avenues. I am one for always looking to find a way. If something doesn’t work and you’re at a dead end, there’s got to be another road somewhere, because there’s always somebody that’s using that opportunity to create something. I’ve always said in my talks that there is an opportunity here for young new businesses and new entrepreneurs to take over some of this production line. I’d like to be producing more in Great Britain. I’m a great advocate for the GREAT Campaign, because we just sold our soul, and everything went overseas. We have to be more in control of what we do here. 

▴ Kelly Hoppen CBE with Boy George

“I BELIEVE THAT EVERY CULTURE SHOULD OWN WHAT IT HAS. WE HAVE A RICH HISTORY IN BRITAIN, THAT’S WHO WE ARE.”

EV CHARGING START-UP GETS FUNDING BOOST

Estonian electric vehicle charging start-up, VOOL, has successfully concluded another seed investment round, securing €1.3m (£1.1m) in funding. Adding to this, VOOL recently received a substantial grant of €1.6m (£1.3m), totalling its funding at €7.6m (£6.5m). VOOL’s technology is known for its remarkable efficiency, utilising the existing grid three times more effectively than the average without causing overload, ensuring reliable and cost-efficient EV charging for businesses and individuals.

The fresh investment will primarily support the expansion of EV charger production and international sales, alongside enhancing customer support in Nordic countries. VOOL also continues to develop new products, incorporating its innovative three-phase technology for household use. This latest funding round, spearheaded by Specialist VC, attracted a mix of notable investors, including real estate developers such as Kaamos Group and Astri Group, and investment company Amalfi.

DEEP-TECH FIRM SECURES £3M INVESTMENT

Mindgard, a deep-tech start-up specialising in AI security, has secured seed funding from IQ Capital and Lakestar to launch its unique enterprise platform. With a £3m investment, the London-based company plans to boost growth and expand its operations. Mindgard’s comprehensive enterprise platform is engineered to tackle AI security concerns head-on.

Developed in collaboration with Lancaster University, it draws upon years of PhD-level AI security research and features an automated threat analysis, detection, and response platform already adopted by the intelligence community. Mindgard’s platform seamlessly integrates with leading cybersecurity products and is part of the prestigious NVIDIA Inception Programme and Microsoft Founder’s Hub.

WAYFLYER AGREES TO $1BN FINANCING DEAL WITH NEUBERGER BERMAN

Wayflyer, the e-commerce-focused revenue-based financing and growth platform, has entered into an off-balance sheet program, set to acquire up to $1bn (£800m) worth of assets from funds managed by investment management firm, Neuberger Berman. This strategic move enables Wayflyer to continue offering competitive capital solutions to its customers while addressing the surging demand from US-based e-commerce businesses.

In addition to this development, Wayflyer recently secured a renewed $300m (£240m) debt line from J.P. Morgan in June 2023, aimed at fostering its growth and providing accessible, flexible, and rapid funding for e-commerce clients. These steps, along with Wayflyer’s successful Series B round, reflect the company’s strong financial position, marked by remarkable

growth, with a 100% increase in capital deployment from 2021 to 2022. Impressively, more than 80% of Wayflyer’s customers return for additional financing after their initial funding transactions, underlining its value in the e-commerce industry.

▴ Juhan Härm - CEO & Co-Founder, VOOL

▴ Aidan Corbett - CEO & Co-Founder, Wayflyer

ASSETCOOL RAISES £2.25M SERIES A FUNDING

AssetCool, a thermal metaphotonics company spun out of the University of Manchester, has successfully concluded a £2.25m Series A funding round. The primary contributor to this round is Northern Gritstone, an investment firm focused on university spinouts and techenabled businesses in Northern England. They join existing shareholders, including the Northern Powerhouse Investment Fund managed by Mercia Asset Management and Kero Development Partners.

Global population growth, increased use of electricity-intensive products like electric vehicles, and renewable energy integration are straining electricity networks. AssetCool addresses this challenge by coating new overhead conductors and offering retrofits for existing electricity networks, including through aerial coating robots. This funding will support the commercial rollout of AssetCool’s coating and further development of retrofitting techniques for existing grids.

GLOBAL CRITICAL MINERALS INVESTMENT FIRM COMPLETES $200M FUNDING ROUND

TechMet has successfully concluded its latest equity fundraising round, raising $200m (£157.3m). This achievement sets the company on a path to surpass a billion-dollar valuation in the coming months. The fresh funding will be channelled into TechMet’s existing portfolio of ten assets, where expansion in extraction, processing, recycling, and manufacturing capacity is underway.

Founded in 2017, TechMet is a permanent capital platform dedicated to developing

projects across the critical minerals value chain, crucial for clean energy technologies. Key shareholders include the US International Development Finance Corporation (DFC) and Mercuria Energy, with significant contributions from London-based Lansdowne Partners, S2G Ventures, and others in this recent funding round. In the past year, TechMet has invested over $180m (£141.5m) in various critical minerals companies worldwide.

STONEWATER’S GAME-CHANGING £200M FUNDING BOOST

Stonewater, one of the UK’s largest housing associations, has secured a £200m funding injection from Lloyds Bank to bolster its ongoing development efforts. This organisation, overseeing around 36,000 homes for over 78,000 residents primarily in central and southern England, has refinanced its existing £125m facility while increasing it by an additional £75m. Furthermore, Stonewater has transformed this facility into a sustainability-linked loan, contingent on three key performance indicators.

These KPIs encompass retrofitting existing properties to exceed minimum regulations by achieving at least an EPC C rating by 2030, and elevating energy efficiency standards for new homes to surpass minimum planning regulations, targeting SAP 86 and above for a significant proportion of new properties. Finally, Stonewater is currently rated as “Gold” via the independent SHIFT sustainability framework – an amalgamation of 15 separate ESG KPIs into one overarching score. Stonewater is looking to enhance its SHIFT score year-on-year with an ultimate ambition of achieving SHIFT “Platinum”– an accolade that no other social housing provider currently holds.

▴ Brazilian Nickel site at Piauí, North East Brazil

▾ Anne Costain CFO, Stonewater

LOST BRILLIANCE: HOW THE UK’S VISA COSTS PUSH AWAY GLOBAL TALENT

SHAKE UP THE LANDSCAPE

Mandie Sewa, Head of Immigration at Brevis Law, thinks the new student visa rules will potentially shake up the landscape for employers seeking international talent. These rules may impact the availability and accessibility of international students as potential employees.

“From January 2024, the rules will make it impossible for international students to bring their dependants, unless they are studying on postgraduate programmes with a research focus, such as researchbased PhDs and research-based master’s programmes,” she adds.

Subject to final confirmation and the passage of the necessary legislation, the main rate

will increase to £1,035, and the discounted rate for students, their dependents, those on Youth Mobility Schemes and under-18s will increase to £776.

The cost of work visas and visit visas will increase by 15%, and the cost of study visas, certificates of sponsorship, settlement, citizenship, wider entry clearance and leave to remain visas, and priority visas by at least 20%.

STRAIN ON EMPLOYEES

Karendeep Kaur, Legal Director for Migrate UK, thinks the increased visa fees will be a strain on employers. However, if they are willing to cover these application fees, they are less likely to lose out on overseas talent, especially to competitors who are

willing and able to cover these fees. She also acknowledges it will be the smaller organisations that will be more affected.

“It is worth noting that those coming to the UK on a shortage occupation role will benefit from lower UKVI (UK Visas and Immigration) fees and can be paid less. However, this does not affect the HIS (Immigration health surcharge) fees payable. As a result, forward planning is key.

“Due to these increases, overseas candidates will certainly be encouraged to seek employment elsewhere other than the UK. Therefore, something for the UK Government to consider, with a view to assigning higher fees to other sectors where there isn’t a shortage or for those roles

THE UK NEEDS TO RECRUIT A QUALIFIED WORKFORCE, AND NEW REGULATIONS ARE TURNING PEOPLE OFF

which tend to offer higher salaries,” she says.

Juliana Lobo, a Brazilian national living in the UK on a work visa with her husband and two children, says the increased fees will affect British universities, which rely on overseas students, as well as British companies, which need to employ hard-to-find skill sets from outside the UK.

“A recent study showed that international students starting their studies in 2020/21 would generate up to £41.9bn for the UK economy. This is compared to the estimated £4.4bn it costs the UK to host them and any dependents they may have, implying a net benefit of £37.4bn for the UK economy,” she adds.

LESS TALENT, MORE COSTS

Skill shortages are problematic. There is no universally accepted definition of a labour or skills shortage and no one obvious flawless policy response.

Sewa goes on to say that the visas will discourage many international students to choose the UK as their destination of study. As a result, employers may face challenges in recruiting and retaining international talent.

“The Government has stated that that the current Skilled Worker route will remain an option for overseas migrants to come and work here.

“However, as many employers are aware, integration of migrants to the UK can be an issue, if they haven’t been to, or lived in, the UK before.

“The advantage of hiring an individual who has studied in the UK is that they will already be familiar with the way of life, working practices and other cultural norms and values,” she adds.

The new rules could lead to a decrease in the pool of qualified candidates for particular positions and industries, potentially affecting the overall competitiveness of certain businesses.

Additionally, employers may need to adapt their recruitment strategies and explore alternative avenues for attracting international talent, which will lead to increased costs on businesses that are already overstretched, according to Sewa.

METHOD BEHIND THE MADNESS

The Government maintains that only foreigners will be impacted by the significant increases. However, with the exception of work visas they will primarily impact British families. Even for non-British families, the reforms will have a detrimental effect on UK businesses, which may be forced to choose between firing an employee or assisting them with visa expenses.

A Home Office spokesperson said: “It is right and fair to increase the Immigration Health Surcharge and visa application fees so we can fund vital public services and allow wider

funding to contribute to public sector pay.”

This will allow more funding to be prioritised elsewhere in the Home Office, which will include paying for vital services and supporting public sector pay rises. But what does it mean for talent?

LOSING TALENT

UK businesses should focus on prioritising and investing in their talent. Hiring, upskilling, and empowerment is the lynchpin to executing strategic priorities and giving an organisation the best chance to thrive in an uncertain future.

Dr Sarion Bowers, Head of Policy at the Wellcome Sanger Institute, said: “We have staff from over 70 countries in the world working on Sanger’s transformative science. Our work has supported the UK to be the global leader in genomics. It costs a family of four around £10,000 in visa costs to move to the UK and now those looking to bring their talent to the UK are being asked to pay £1,035 per person per annum for the NHS, on top of already paying through their income tax.

“We are finding recruitment increasingly difficult, and any loss of talent will not only impact our science, it will impact the UK economy.”

RIPPLE EFFECT

The increase in visa fees may negatively impact on the UK economy. Higher visa fees are likely to discourage international students, workers, and businesses from choosing the UK as their destination, according to Sewa.

“This could result in a decline in the number of international students enrolling in UK universities, a decrease in foreign workers filling skill gaps, and a reduction in foreign investment and business expansion in the country.

“WE ARE FINDING RECRUITMENT INCREASINGLY DIFFICULT, AND ANY LOSS OF TALENT WILL NOT ONLY IMPACT OUR SCIENCE, IT WILL IMPACT THE UK ECONOMY.”

Dr Sarion Bowers

“INTERNATIONAL STUDENTS STARTING THEIR STUDIES IN 2020/21 WOULD GENERATE UP TO £41.9BN FOR THE UK ECONOMY.”

Juliana Lobo

“These factors can have a detrimental effect on various sectors of the economy, such as education, healthcare, technology, and finance, which rely on international talent and investment. Furthermore, a decrease in international students and workers may lead to a loss of revenue for universities, businesses, and the Government, impacting future economic growth and development,” she adds.

According to Kaur, there is an increase in sponsor licence applications, with statistics showing that over 6,000 sponsor licences were approved in the last 3-month reporting period. This is a strong indicator that the UK is still very much reliant on overseas labour. “The next reporting period post fee increases will determine whether these increases are proving to be a detriment. Without overseas talent filling the UK’s shortage gap, employers in certain sectors may be forced to close their businesses which would be a huge impact across the UK economy,” she warns.

MANAGING THE FALLOUT

The UK can take several measures to decrease the barriers facing foreign talent and attract international individuals to work and study in the country. Sewa outlines some potential actions:

• Streamlining visa processes

Offering attractive visa options including expanding the range of visa options that cater to the needs of international talent. For example, creating specific visas for skilled workers, business owners, and graduates to attract individuals with the desired skills and

qualification, so increasing the number of designated bodies and providing clear published criteria for existing visas, such as the Innovator Founder.

• Providing incentives for employers

Offering incentives to employers who hire foreign talent, such as tax breaks or grants, to encourage them to actively seek international candidates and invest in their recruitment and integration. Enhancing support services, by providing comprehensive integration support services to foreign talent, such as language training, cultural integration programmes to enhance intercultural communication, awareness, and understanding to help ease the transition and make the UK a more attractive destination, whilst enhancing business operations.

• Promoting diversity and inclusion

Emphasising the value of diversity and inclusion in the workforce to create a welcoming environment for foreign talent. Encouraging employers to adopt inclusive hiring practices and fostering a culture of acceptance would make the UK more appealing to international individuals. Research has shown many benefits of a diverse and inclusive workplace, including higher revenue growth, greater readiness to innovate, increased ability to recruit a diverse talent pool, and 5.4 times higher employee retention.

ALTERNATIVE ANSWERS

Lobo recommends that instead of increasing fees, the Government should take into consideration the amount of money the

overseas employees already pay and apply a reasonable/fair proportional rate, as they are contributing to the UK’s development and helping British businesses to grow.

“Foreign talent will start considering other countries when thinking about living abroad, as the UK is making it harder and harder for those people to afford to live here. At the end of the day, the extortionate fees will become a barrier for those talents who wish to come to the country,” she warns.

Kaur agrees that a freeze on fee increases would be the obvious answer. Alternatively, the UK Government should add the current sectors facing a shortage to the shortage occupation list to lower the salary requirements and visa application fees.

“However, the key to this being a success is if the UK implements an effective immigration system that is responsive to economic needs,” she advises.

Despite the ever-increasing obstacles around immigration laws, foreigners continue to see the UK as a desirable alternative. Given its high-spending consumer market, multicultural population, and innovative businesses, in addition to the language, location, and financial climate for start-ups and new firms, the UK still attracts top talent. However, will transnational workers still choose the UK? Let’s hope so, or it will damage an already fragile economy. 

LINKEDIN POLL

ARE UK VISA COSTS PUSHING AWAY GLOBAL TALENT?

YES 79% NO 19% OTHER 2%

“WITHOUT OVERSEAS TALENT FILLING THE UK’S SHORTAGE GAP, EMPLOYERS IN CERTAIN SECTORS MAY BE FORCED TO CLOSE THEIR BUSINESSES.”

Karendeep Kaur

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BELIEVE IN ANGELS

In today's complex business funding landscape, securing capital for start-ups and scale-ups has become increasingly challenging. Traditional avenues like bank loans are subject to more onerous lending conditions. Meanwhile, venture capital firms are demanding higher standards and more tangible metrics.

Against this backdrop, angel investing represents a viable funding route that not only provides capital but also invaluable expertise, mentorship, and network connections. So what are the advantages of this form of funding and why should young and ambitious businesses consider it?

NAVIGATING CHALLENGES IN A POSTCOVID ERA

The aftermath of the global pandemic has left many entrepreneurs and businesses grappling with financial uncertainty.

Economic pressures, combined with embedded inflation and rising mortgage rates, have created an environment where access to traditional funding sources is not as straightforward.

According to a report by the Federation of Small Businesses (FSB), the number of UK businesses that are struggling to access finance has increased by 25% in the past year. Meanwhile, the average time it takes for a business to secure a bank loan has

increased by 50% in the past year and the cost of bank lending has increased by 10% during the same period.

Venture capital firms, once seen as the bastions of early-stage financing, have also adjusted their approach. The focus has shifted from certain growth metrics to a more discerning look at profitability and far stricter terms that can be off-putting for young businesses.

Companies that previously boasted impressive growth figures are now under scrutiny for their inability to translate those metrics into sustained profitability. This shift has led to a new emphasis on start-ups' ability to achieve quick routes to profitability, rather than other growth metrics that may flatter to deceive in real business terms.

Amid these challenges, angel investing has emerged as a beacon of hope for start-ups seeking not only capital but also strategic support.

According to Beauhurst, a data platform for the UK's start-up ecosystem, angel investment in the UK reached a record high of £2.7bn in 2022. This was a 25% increase from 2021 and the highest level of angel investment since 2008. Overall, the number of angel-backed deals in the UK increased by nearly 50% between 2014 and 2022, which is clearly a very positive trend.

BEYOND FUNDING ALONE

The reason more start-ups are turning to angel investors is that they bring a diverse set of benefits that extend far beyond funding alone. These include:

• Expertise and guidance

Most angel investors are experienced entrepreneurs, businesspeople and/ or industry experts who have navigated the challenges of building successful businesses. Their insights, advice, and mentorship can provide start-ups with a roadmap to success, helping them make informed decisions and avoid common pitfalls.

• Network connections

Angel investors often have extensive networks in their industries of interest. These connections can open doors to potential customers, partners, and collaborators, giving businesses a head start in building crucial relationships.

These connections can also help startups hire the right service providers, from accountants and lawyers to marketing agencies, distributors, and supply chain partners. Start-ups need to look after every penny, and hiring the wrong company can end up being a very expensive mistake. So introductions to trusted partners can be invaluable.

Mike Lebus, angel investor, entrepreneur, and Co-Founder of the Angel Investment Network, explains why the number of companies turning to angels for investment has skyrocketed.

• Alignment with values

Unlike venture capital firms, angel investors can have a personal interest in supporting a start-up's mission and objectives. They may have a real passion for a specific sector, due to their areas of expertise, or they could be aligned with certain purpose-driven ventures.

On the Angel Investment Network platform, we have seen interest in impact-related terms skyrocket in recent years, and there has been a surge of interest among investors who prioritise the societal and environmental impact of start-ups.

Angel investors who care deeply about the problems a start-up aims to solve would be more likely to invest due to their personal vested interest in the company’s purpose and potential success.

• Less aggressive deal terms

At the early stages of a start-up's journey, aggressive deal terms from venture capital firms can be a hindrance. Angel investors tend to be more flexible and collaborative, allowing start-ups to maintain more control over their vision and growth trajectory.

Indeed, for many, they are simply the most appropriate form of funding at a pre-Series A stage. Something many entrepreneurs only find out later. We did some research among successful entrepreneurs and asked them to offer their one most important piece of advice. The theme of not going to VCs too early came out loud and clear. Typified by this comment from Benjamin Carew, Co-Founder of affordable workspace solution Othership: “If VCs keep being really nice but don’t invest, you are probably too early. Save yourself the time and build more traction and try and do an angel round or friends and family.”

ANGEL INVESTING IN TODAY'S CLIMATE

While angel investing offers a promising avenue for start-ups seeking funding and support, it's important to note that competition for angel investment has intensified. Many angels have curtailed their investment activities due to changing financial circumstances. Additionally, a focus on start-ups with more proven traction has become more pronounced.

In my next article, I will consider the key factors that drive investors' decisions in the realm of angel investing. Understanding these factors can provide start-ups with valuable insights and strategies to enhance their chances of securing the support they need to thrive. In conclusion, angels continue to play a pivotal role in propelling businesses to success, especially in a challenging and competitive funding landscape. Their expertise, mentorship, and network connections, coupled with a shared vision for a start-up's success, can make all the difference in transforming a fragile young business into a thriving, profitable venture. As start-ups navigate the evolving business landscape, it could be time to believe in angels as catalysts for business success. 

CLIVE HENRY GROUP COMPLETES MANAGEMENT BUYOUT

DEAL VALUE: “SEVEN-FIGURE MBO”

A group of healthcare-focused businesses, comprising recruitment, consultancy, and technology sectors, has successfully completed a seven-figure MBO. The Clive Henry Group encompasses three distinct entities, each making a unique contribution to the healthcare industry. Mprove is a consultancy firm specialising in delivering high-quality solutions for clients in health and care. Woodrow Mercer Healthcare specialises in healthcare sector recruitment, connecting expert interim consultants with the NHS. Meanwhile, Tech Canal excels in digital healthcare solutions, specialising in sourcing SaaS-based solutions for its clientele.

Corporate Finance guidance was provided by Peter Williams and Fraser Pirie from UHY Hacker Young,

while legal counsel came from James Down and Olivia Jones at Hill Dickinson. Praetura Commercial Finance led the funding, with Stuart Bates and Adam Hooson at the helm, and assistance from Grant Thornton and Addleshaw Goddard.

MEADOW COMPLETES NAKED FOODS DEAL

DEAL VALUE: UNDISCLOSED

Meadow, a prominent UK value-added ingredients company, has announced its acquisition of Naked Foods Limited, a strategic move to solidify its standing as a trusted partner in supplying crucial food ingredients to renowned UK brands. This expansion plan encompasses both organic growth and strategic acquisitions. The acquisition not only allows Meadow to diversify its product portfolio but also fosters synergies between the two entities, leveraging their expertise in product development and manufacturing.

SPROUT SOCIAL ACQUIRES INFLUENCER MARKETING AND SOCIAL INTELLIGENCE PLATFORM

DEAL VALUE: $140M (£110.2M)

Sprout Social, a prominent social media management software provider, has unveiled its acquisition of Tagger Media, an influencer marketing and social intelligence platform. This strategic move solidifies Sprout's leadership position in the social media software arena, offering brands an all-encompassing platform to execute comprehensive social strategies on a large scale.

The acquisition of Tagger Media was completed with a cash consideration of $140m (£110.2m). Funding for this acquisition was sourced from Sprout Social's cash reserves and their newly established revolving credit facility. This investment underscores Sprout's commitment to enhancing its social media management capabilities.

Naked Foods is a well-regarded manufacturer in the food and beverage industry, operating from its BRC A* grade facility in Kent. Since its establishment in 2003, the company has organically expanded its offerings to include over 300 recipes and several thousand tonnes of sauces annually. These products encompass fruit preparations for yoghurts, dairy drinks, ice cream, plant-based items, and sweet fillings for bakery and dessert goods.

▴ (Left to right) Liam Molesworth, CEO & Co-Founder and Sam AlsopHall, CSO and Co-Founder of Clive Henry Group

PARAGON CONTINUES EUROPEAN EXPANSION WITH ACQUISITION

DEAL VALUE: UNDISCLOSED

Paragon, a leading provider of transformative business services, has expanded its footprint in Western Europe with the acquisition of Canon France Business Services (CFBS), a subsidiary of Canon Europe in France and a prominent player in the Business Process Services (BPS) sector.

CFBS is known for its customer-centric culture and expertise in IT security and process optimisation technologies, including AI solutions. The integration of these two firms will boost the group’s growth in this domain, providing added value to their existing customer base in France. CFBS boasts over 400 employees and serves clients in diverse sectors, including defence, nuclear, health insurance, and banking.

OANDA DIVES INTO CRYPTO WITH MAJORITY INTEREST ACQUISITION OF COINPASS

DEAL VALUE: UNDISCLOSED

OANDA Global Corporation has announced its acquisition of a majority stake in Coinpass Limited, a UK-based crypto asset firm regulated by the Financial Conduct Authority (FCA). Founded in 2018, Coinpass facilitates cryptocurrency investment and trading for retail investors, professional traders, and businesses, offering a wide array of fiat/crypto, crypto/crypto, and stablecoin pairs through its proprietary trading technology.

FORTUNE 500 SOLUTIONS INTEGRATOR ACQUIRES AMDARIS

DEAL VALUE: UNDISCLOSED

Insight Enterprises has completed the acquisition of UK-based Amdaris, a specialist in software development and digital services. Amdaris operates service delivery centres across Eastern European countries. This strategic move allows Insight to expand its solutions portfolio and IT supply chain capabilities by incorporating Amdaris’ innovative software development, application support, managed services, and consultancy offerings.

Amdaris, a Microsoft-Gold Certified Partner for over a decade, is known for delivering transformative digital journeys. With over 800 employees, their expertise in outsourced extended delivery teams for enterprise and consumer software applications aligns perfectly with Insight’s global Modern Applications and Data & AI practices, accelerating customised solutions for back-end, cloud, mobile, data analytics, and web front-end to support clients in their digital transformation efforts.

REFRIGERANT GAS SUPPLIER A-GAS SELLS MAJORITY STAKE TO TPG RISE CLIMATE

DEAL VALUE: UNDISCLOSED

International legal firm Osborne Clarke has provided counsel to A-Gas' management team in their majority stake sale to climate investment strategist TPG Rise Climate. Despite this change, KKR, the majority owner of A-Gas, will maintain a substantial minority stake in the company, fostering collaboration with both TPG Rise Climate and A-Gas' leadership. For over three decades, A-Gas has played a pivotal role in capturing refrigerant gases for reuse or safe disposal, creating a closed-

loop system that curbs harmful gas emissions.

With TPG Rise Climate's support, A-Gas intends to expand its global operations, meeting the rising demand for refrigerants and further promoting sustainability in the refrigerant gas supply chain. Osborne Clarke's team, led by Private Equity Partners Alisdair Livingstone and James Taylor, along with Senior Associate Jack Wellington, provided guidance for this transaction.

LINKEDIN POLL

DO YOU THINK THE ERA OF OUTSPOKEN BUSINESS LEADERS IS COMING TO AN END? NO 68%

YES 25% OTHER 7%

Brash leaders can achieve brilliant results. In business, where the stakes are high and the margin for error is low, taking a bold approach to drive a company to new heights is admirable. But at what cost?

The business landscape is changing, alongside a change in values and expectations. The leadership styles that have been successful in the past are not likely to work in 2024 and beyond. Will traditional, alpha leaders struggle to deliver the high level of innovation required by the changing times?

CHANGE IS AFOOT

Every crisis gives cast to a new style of leader. In difficult times especially, leaders need to steady the ship and make decisions to calm the waters as they set a new course for the business. Simon Jeffries, a leadership strategist, thinks a brash approach might lead to short-term gains, but if it also leads to instability, the net effect is negative.

“Pay cheques are no longer the primary motivation. Empathy, communication, and mentorship are valued as much as salary. Externally, a 24/7 media cycle creates constant scrutiny.

“Controversial actions create a PR nightmare causing reputational and financial damage. A brash approach might lead to short-term gains, but if it leads to instability in the long run, the net effect is negative,” he warns.

The economy currently faces a growing demand for a level of innovation that ‘alpha’

CEOs who run their teams in a commandand-control manner simply cannot meet. Leaders who make it through difficult times typically distinguish themselves from the pack by traits like courage, resiliency, and a forward-looking outlook.

BOARDROOM DISRUPTERS

Change is in the air. BBD Perfect Storm created a specialist division called New Macho, which focuses on how brands and advertisers can talk to, and relate to, modern men.

According to Fernando Desouches, Managing Director at New Macho, there is a growing call for a more conscious type of leadership, which is becoming increasingly appealing. A recent New Macho study, concerning a sample of men aged 18-75 in the UK and US, showed a shift in values between pre-pandemic and current times. “In the past, male aspirations were centred around making money, seeking fame, or living a glamorous lifestyle. However, presently, men aspire to more intangible goals: finding happiness in everyday life, fostering good relationships, and maintaining good health,” according to Desouches.

Regarding work expectations, the majority agreed that “work should be meaningful, helping both myself and others.” However, when asked about social expectations, they still perceived that the “work hard, play hard” mantra dominates.

WHY BRASH BUSINESS LEADERS MIGHT BE FADING AWAY

“A BRASH APPROACH MIGHT LEAD TO SHORT-TERM GAINS, BUT IF IT LEADS TO INSTABILITY IN THE LONG RUN, THE NET EFFECT IS NEGATIVE.”

Simon Jeffries

Sally Percy, leadership journalist and author of the book ‘21st Century Business Icons: The Leaders Who Are Changing our World’, thinks that while outspoken, largerthan-life leaders help their companies to stand out from the crowd, they can also be immensely polarising figures who embroil their businesses in unnecessary controversies, alienating both customers and employees.

“Most businesses will not want to expose their brand to these risks. Instead, today’s leaders are increasingly expected to be empathetic and inclusive individuals, who are sensitive to the opinions and perspectives of their own organisation’s stakeholders, as well as evolving trends within society more broadly,” she says.

BOLD VERSUS BRASH

It is time to redefine the concept of “man-up”. Either business leaders and organisations adopt the emerging principles required to adapt to the future, or we run the risk of returning to the past, which can be risky for society as a whole, as well as for business.

Dr Alexandra Dobra-Kiel, Innovation & Strategy Director at Behave, says that long-term productivity, which requires more creativity and innovation, can benefit from the decline of the brash leadership style. Creativity and innovation can only thrive in an environment that allows employees to explore, reflect, and experiment.

The characteristics required in the Special Forces are mirrored in business. According to Jeffries, in the special forces, you need someone capable of taking calculated risks without being paralysed by fear or

uncertainty. Decisions must be made with conviction and backed by decisive action.

“But this must be tempered with emotional intelligence. Mission success requires a ‘one team on one mission’ approach. If a leader stands at odds with those expected to follow, failure becomes inevitable,” he adds.

A BALANCING ACT

Desouches thinks that intelligence without wisdom (or consciousness) can lead to selfdestructive outcomes.

“I believe this realisation lies at the core of the change in our leadership values. Leadership solely based on intelligence can solve problems but may also be harmful or unsustainable. Therefore, there is a growing call for a more conscious type of leadership, which is becoming increasingly appealing and necessary,” he says.

A brash leader tends to be dominant, assertive, and unapologetic in expressing their opinions. According to Dobra-Kiel, this can have a positive effect on employees’ short-term productivity, as a high-pressure environment can push employees to focus, make quick decisions, and prioritise effectively.

“However, working in a high-pressure environment over a prolonged period often leads to the build-up of negative emotions amongst employees, which narrow their scope of attention, cognition, and action and therefore drive employees to focus on task completion. Negative emotions can increase ethical risk, as less attention for anything but the task at hand is provided,” she warns.

According to Percy, business leaders should invest in developing their emotional

intelligence skills, paying particular attention to empathy. She goes on to say that it is only by understanding the expectations, motivations, and needs of others that they will be able to inspire people to follow them and help them achieve their vision of business success.

THE

FUTURE IS BRASH BRIGHT

“We will still see brash leaders because their ‘force of nature’ personality traits can force huge success. But, as the business world continues to evolve, I think they will become the expectation rather than the rule,” says Jeffries.

Coming into 2024, leaders are facing huge challenges; people are questioning how and why we work and the shifts across the working landscape are now fast in play.

According to Desouches, where it’s daunting for many leaders who are trying to navigate these changes, there is also a huge opportunity for meaningful change. He believes that men (and the world) are at a tipping point, as we are witnessing some of the most important leaders in the Western world (not just business leaders) sometimes behaving like children, inviting others to fight in the school playground.

“These are not the type of leaders we need to address the significant social, environmental, and economic issues we are collectively facing. Instead, we require grounded, mature men who understand that the leadership values we expect are shifting from control, competitive, unconscious, and individual to creative, collaborative, conscious, and connected,” he adds.

Various studies highlight what leadership tactics are popular right now, but in essence, there are many effective approaches to lead. Instead, true trailblazers will concentrate on their ongoing development, banishing archaic methods and building the kind of company that never stops seeking a better way.

“Anyone can hold the helm when the sea is calm” - Publilius Syrus 

“THERE IS A GROWING CALL FOR A MORE CONSCIOUS TYPE OF LEADERSHIP, WHICH IS BECOMING INCREASINGLY APPEALING AND NECESSARY.”

Fernando Desouches

Shoulder to shoulder

Sophie Austin HR Partner

SUPPORTING A HYBRID WORKFORCE

No one could have predicted that our working process would change irreversibly in the last three years. Navigating global lockdowns hasn’t been easy – many struggled to adapt, facing issues of loneliness and difficulties setting boundaries between work and their personal lives when confined to dining room tables – but, with around half of us now working from home or in some sort of hybrid capacity (a mix of home and office-based work), the concept is here to stay.

So how do we embrace it?

Shifts in working patterns wouldn’t have been possible without modern technology, and businesses have realised the opportunities that communication channels such as Zoom and Teams bring. They facilitated easy meetings between managers and colleagues and a raft of cost - and time-saving efficiencies for both companies and clients.

The use of this technology also extends to communicating with colleagues to help them navigate changes, overcome uncertainty and reassure them that they’re being listened to. After all, when it comes to announcing changes, you can’t simply ‘tell’, you have to ‘ask’ as well. Doing so breeds insight; you can act in the best interest of colleagues if you fully understand their needs and drive engagement by getting employees involved in key decisions.

And how do we implement it?

Managers and HR teams must be the conscience of the business, maintaining as much structure as possible between people in different locations. This is where collaborative technology can be so powerful, even if this is simply facilitating regular team meetings, get-togethers over lunches, or organising a focus for the day. Colleagues will benefit from human connection and meetings can promote collaboration or spark ideas. For younger staff, this can be the best alternative to the learnings derived from face-to-face interactions.

In summary, change brings uncertainty and colleagues need to understand how they will be affected and how they will benefit. The use of technology for clear communications and employee engagement becomes paramount when managing people in multiple locations.

T: 01793 818300 sophie.austin@monahans.co.uk

Through all of life’s ups and downs, we’re next to you every step of the way.

We only have one goal at Monahans: to help you achieve your tomorrow.

DRIVING GROWTH IN CHALLENGING TIMES INSIGHTS FROM HARRIET GREEN OBE

Harriet Green is the real deal. She’s run some of the world’s largest companies and has been banging the drum on the tangible benefits of inclusivity for over two decades.

From 2018 to 2020, she served as the Chair and CEO of IBM Asia Pacific, where she focused on driving innovation-led growth within the organisation. Prior to that, she was the leader and Founder of the IBM startup Watson Internet of Things from 2015 to 2017. Green’s expertise and leadership contributed to the advancement of IBM’s initiatives in the Internet of Things domain.

Before her tenure at IBM, Green held the position of CEO at Thomas Cook Group from 2012 to 2014. During her time there, she played a crucial role in transforming the company’s fortunes. Under her leadership, Thomas Cook Group’s market worth skyrocketed from £148m to over £2bn, and the company’s share price experienced a staggering increase of 829%.

Following the announcement of Green’s departure, the company’s share value suffered a significant drop of over £350m. This incident highlighted the impact of her leadership on the organisation’s financial performance and investor sentiment.

In addition to her roles at IBM and Thomas Cook Group, Harriet Green also served as the CEO of Premier Farnell from 2006 to 2012 and has been a board member of BAE Systems, a multi-national defence, security, and aerospace company.

Green’s notable achievements and track record in driving growth and innovation demonstrate her strategic vision and ability to deliver substantial results in various industries.

We spoke to Harriet about how innovationled growth could get us out of the global economic struggles, restructuring a business with empathy, the importance of building trust with your employees, and much more.

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

I would describe my career as having panned five different industry sectors and have been deeply privileged to live and work on four continents whilst being a global executive. I just like to do what other people may consider as hard and important things. It’s always been a big part of my life.

I remember in my first CEO role working for Sir Peter Gershon, Chairman of Premier Farnell plc, my first strategy was called ‘People, Planet, and Profits’. The City, and certain investors that stick in my mind, basically said, “Drop the people and the planet stuff. Just focus on delivering us profit Ms Green, if you wouldn’t mind.” Even way back then, I always felt that ‘People, Planet, and Profits’ should be woven into the organisation.

My first pledge in 1996, way before people did pledges, was around respecting, engaging, and working with people, because of their enormous differences. Whether that’s age, sex, colour, creed, sexuality, orientation, or physical or cognitive abilities, we should joyfully make our teams full of richly different individuals. That has continued to be my mantra when putting together groups of people to get great stuff done. It’s so good that this is now in the mainstream vernacular.

YOU SPEAK PASSIONATELY ABOUT THE LINK BETWEEN GROWTH

AND INNOVATION. COULD YOU TELL US ABOUT THIS?

When you want to grow little companies, medium-sized companies, or giants, history has proven that you don’t cost-cut your way to greatness. You innovate your way to growth, and that’s been proven throughout the decades. The 1950s is perhaps the best example of that.

There are many parallels between the 1950s and the time we’re living in today. In the ‘50s, they went through a brutal global influenza pandemic, where as many as 50 million people lost their lives. Most of the Western World was recovering from a diabolical war and all of the upheaval and horror that was inflicted upon the surviving societies. But what really transformed the ‘50s was innovation. This included the creation of grids throughout the world, that gave people the ability to turn on a switch and have electricity. It was also a time when the mighty Sony came up with a transistor radio, which launched a whole new mobile entertainment and communications environment.

I’m a huge believer that two things determine growth. The first is innovation. The second is that the critical communities - your employees, your clients, your suppliers, those who help you stabilise the robust supply chain - have to trust in the product or the capabilities that you are creating, and that it will help make the world, and those that you’re serving, a better place. The combination of innovation and trust, I think, is as important now as it was in the 1950s. YOU’VE ALWAYS BEEN VERY OUTSPOKEN ABOUT DIGITAL TRANSFORMATION BEFORE IT WAS WIDELY ACCEPTED. WHY WAS THAT SO IMPORTANT TO YOU AND WHERE DID THE DRIVE TO MAKE A DECISION LIKE THIS COME FROM?

I found that it was very important, as a new CEO, to listen to those you respect and those who are involved in the technologies

“I JUST LIKE TO DO WHAT OTHER PEOPLE MAY CONSIDER AS HARD AND IMPORTANT THINGS. IT’S ALWAYS BEEN A BIG PART OF MY LIFE.”

Listen to the interview here

and the business models of the future. It became clear to me then that paper-based models could be so much more powerful, cost-effective, and useful to the client base if they were digitised. Then it became about seeking out great partners who had already built e-commerce platforms (such as IBM).

I spent time looking at models, what’s working and what’s not. Piloting was important; you don’t go all out on something unless you really see that it works.

We created a community for customers and clients to talk to us, which online did so powerfully. Technology and disruption allow you to do things that you were just unable to do before. I remember my youngest daughter Gemma said, “What did people do before eBay?” and that is a great question because, before those types of technologies, a global online auction environment was simply not possible.

I think those themes still work today, particularly in a decade where we have very expensive money. I spend a lot of my time listening, really understanding what’s new, what’s happening out there, what models are working and what isn’t. There’s also a need for a different type of leadership. Often, we find ourselves in beleaguered and tired environments, after what we have all been through, so never was there a greater need for these things.

YOU OVERSAW THE CUTTING OF 2,500 JOBS IN YOUR TIME AS CEO OF THOMAS COOK. HOW DID YOU DEAL WITH MAKING DIFFICULT DECISIONS LIKE THIS AND DO YOU HAVE ANY TIPS FOR PEOPLE WHO MAY HAVE TO DO THE SAME?

First of all, what we were most proud of at Thomas Cook is that in the nearly three-year period, no one lost money on our watch. We raised billions of pounds as we grew the company. Of course, with such a dramatic transformation, we needed to change the shape of Thomas Cook. We needed to hire new digital people, product people, and many others who could help us with the change and the transformation.

We also had other changes we needed to make. For example, we had to stop procuring hotels by country because Thomas Cook Belgium and Thomas Cook Germany were competing to buy beds for the summer season. It is always with great sadness that anyone no longer has a job on your watch, but I think there are a couple of things that I have always done.

The first is to make sure that your communication is so honest, empathetic, and regular, that if your own children were being laid off and bringing that information home, you would feel that the very best was being done to inform, to advise, and to add support. So, your Chief Communications Officer is as important as your CFO and CPO in these environments of change and transformation. The second is we put a great deal of time and energy into reskilling and helping people find other roles to ease the

passage of those we had sadly needed to reshape in terms of the new Thomas Cook.

DO YOU HAVE TIPS FOR LEADERS LOOKING TO BUILD TRUST WITH THEIR EMPLOYEES?

I think the essence of leadership is to be able to embrace employees in an increasingly polarised world. It’s even more important, and it’s the essence of leadership. My tips would be, first of all, what is your purpose? What is your commitment and promise? What is it that you are offering the world, offering your employees, offering your customers, offering those in the supply chain? If you can’t answer that in a meaningful way, then you know, that’s the challenge. How will you drive innovation-led growth?

Half the world has been doing this for a decade already, led by many of the tech firms, I saw this done brilliantly at IBM and I have done this myself, with teams of all different cultures and ages and backgrounds, and cognitive skills to design things together. What are the one or two big problems that we face? And how do we solve them as a team? An hour of design and thinking a day keeps the ills of disaffected employees and unhappy clients away.

Secondly, even though you may be employeecentric, without clients, you don’t have a business. Are you spending a huge chunk of your time really listening to your customers and understanding what they need? What about what they want in the next two-to-three years, and involving all of your organisation around that? Design Thinking is something you could start. Pull five people together this afternoon and have a session. It’s fun, it’s productive, it’s insightful, and if you’ve got richly diverse and inclusive teams, you will get amazing solutions. People know what the world needs, we just have to release and harness that. 

“THERE’S ALSO A NEED FOR A DIFFERENT TYPE OF LEADERSHIP.”

After the volatility of the pandemic, the UK has entered the “aftermath economy.” Leaders should use this period of relative economic stability to best prepare themselves for the next growth cycle. Those who focus on retention can ensure their talent won’t quit as soon the job market re-accelerates to the white-hot pace of 2021-2022.

While there are many ways CEOs can address their workforce velocity rates, or the speed at which employees quit, one of the most overlooked comes down to the basics: infrastructure.

Infrastructure encompasses everything from the factory floor to equipment, office space and remote setups. A physical working environment is fundamental to employee experience, regardless of where or how the work is being done.

Whether it’s a warehouse or construction company, distribution service, or accounting firm, strong infrastructure boosts output and eliminates the distraction of frustration.

The following are four approaches CEOs can take to maximise their investments in technology.

COLLABORATION MORE

It is critical companies get good at collaboration. The myriad of communications tools available, compounded by the rapidly developing hybrid workplace, demands organisations to review their suite of collaboration tools (e.g., Microsoft Outlook, Gmail, Google Drive, Slack, Zoom, Microsoft Teams), rationalise use-cases for each tool and standardise company expectations for how and when they are used.

While many individuals had to learn how to function in the work-from-home environment rapidly during the pandemic, we are now in a state of finding best practices that can be applied throughout entire organisations.

ROUTINELY UPGRADE

The workplace is the foundation for performance and can be a competitive advantage when looking to attract and retain talent. Ensuring employees have the best tools, applications and workspace conditions demonstrates a commitment to their development and provides a powerful boost to employee engagement.

USE EVERY CAPABILITY

Before investing in new technology, it’s important leaders first make sure they are

By Joe Galvin, Chief Research Officer of Vistage

taking full advantage of the features that are already in place. A key piece of this is training employees on every applicable function. Not every capability will be missioncritical, but there is almost always more efficiency and knowledge to extract from current systems before implementing entirely new business applications.

HARNESS ARTIFICIAL INTELLIGENCE

Finally, AI will impact individual productivity long before organisations are equipped to capitalise on it. CEOs should identify the best AI applications for their team and then train them on them extensively. This will allow employees to figure out how it will best help them in their specific role. Then, as AI gains speed, leaders will be poised to accelerate their digital transformation as well.

In today’s hybrid, digital-first world, infrastructure is no longer as simple as having an open office space and a few computers. Leaders who fail to put their technology at the top of their priorities and invest in creating a best-in-class work environment stand to miss out on top talent and fall short when the next growth cycle inevitably ignites. And, as leaders learned during The Great Resignation, having the right team in place during a tight labour market can be the difference between success and failure.

WWW.VISTAGE.CO.UK

4 Ways leaders can maximize technology in the “aftermath” economy

CO-FOUNDER PRENUPS IS THIS THE RISE OF THE NEW NORMAL?

A dream team. One shared vision. Founding a start-up can challenge even the strongest individuals. Add to that founding a start-up with a close relative and things can get interesting. Tales of start-ups are filled with broken partnerships on the precarious road to success.

We have seen some great family dynasties including the Rothschilds and the Mercks. These are the positive stories. Then there are many that didn’t make the cut.

FAMILY FAILURES

David Davies, Corporate, Commercial & Finance Partner at Kingsley Napley LLP, reveals that setting up and running a business with a relative or a close friend is relatively common – particularly among younger entrepreneurs – and whilst the depth of the pre-existing relationship can bring a sense of relative freedom to running a new business, if it goes wrong, it can go very wrong.

Take the historical example of brothers Rudolph and Adolf Dassler, who founded one of the world’s first athletic shoe companies. When their personal relationship broke down, so did their company, subsequently leading to an infamous feud and a long-lasting rivalry between their successive companies, Adidas and Puma.

Statistics show that strong personal relationships don’t necessarily equate to strong professional relationships. Noam Wasserman, author of The Founder’s Dilemma, states that 65% of start-ups fail due to co-founder conflict.

The odds are not in your favour. Doing business with family members has huge benefits, such as comfort, understanding, transparency, and trust. However, it can also be laden with disadvantages, such as conflicts and resentments in long-standing relationships.

Mark Zuckerberg’s bitter separation from his original Facebook co-founders was publicised for all to see in the 2010 film The Social Network, but founders in 2023 can go in prepped for break ups. Introducing the co-founder prenup - essentially the business version of the well-known marital agreement - helping determine how shares in the company are divided up and what conditions are attached to them.

CO-FOUNDER PRENUPS

Ifty Nasir, Co-Founder and CEO of Vestd, says that even if your co-founder is a sibling or family member who you have a strong relationship with, it is vital to protect yourself should there be issues further down the line.

“THERE CAN BE A BLUR BETWEEN THE PERSONAL AND PROFESSIONAL, AND WHEN THAT HAPPENS, RELATIONSHIPS CAN BE STRAINED.”

Mark Gudgeon

“Those who have siblings will have often heard the words ‘it’s not fair!’ during childhood arguments - a prenup agreement helps ensure fairness for everybody. Each sibling gets what they’ve worked for and earned, with nobody walking away with anything undeservedly,” he says.

Very little stands still in life and business, according to Mark Gudgeon, Senior Dispute Resolution Solicitor at Harper James Solicitors, and as the business moves forward, so too do the relationships.

“There can be a blur between the personal and professional, and when that happens, relationships can be strained. And in that scenario, family members will look to the constitutional documents only to find an absence of answers or guidance, or inadequate provisions that do not assist or which can be unhelpful,” he warns. Davies agrees. Ideally, a shareholders’ agreement is reviewed regularly. This ensures that it is suitable for the current business, accurately reflecting the shareholders’ respective, expected rights and obligations.

However, if there is no agreement in place and the co-founders have a divergence of expectations, whether for the direction of the business or in respect of their own commitment to or reward from the business, the fallout can be all the more devastating.

“Whilst the provisions of a shareholders’ agreement dealing with a dispute do not always avert feelings of frustration, at least there is a pre-agreed, structured process that should result in a settlement. Without such a framework, the likelihood of reaching a settlement is reduced and the sense of injustice will run deeper than it would in the average business relationship.

“The intense, profound, and wide-ranging ripples caused by the fallout from such a dispute can cause irreconcilable family rifts and split groups of long-standing friends, in much the same way as might a marital divorce,” warns Davies.

I’M A SHAREHOLDER, GET ME OUT OF HERE!

Protections, like co-founder prenups, have come in the nick of time. Top reasons small businesses fail? 23% don’t have the right team. That’s right. You have to have the right team especially as you seek investment.

According to recent Mastercard Europe research, one in five family-run SMEs is experiencing conflict around who will run the business in the future, with 27% claiming their relatives are resistant to trying new things. Fewer than one in ten (8%) see a longterm future (10+ years) carrying the baton for their family business.

On the whole, respondents were positive about working with their relatives and family firms were more optimistic they would grow in the coming year than non-family-run businesses. However, the uncertainty of if, and how, to modernise, coupled with family dynamics, could increase the risk of family businesses getting outpaced by more adaptable competitors.

Nasir introduced these agreements through Vestd’s ‘Agile Partnerships’ solution in 2021 and since then, demand for them has soared. In the last year alone, the number of co-founders establishing ‘prenups’ increased by 500%.

“The figures show how vital they are and how cautious people are at a time when the economy is so fragile. Anything can happen when you least expect it, and more founders are making it a priority to be legally protected,” he adds.

However, recent data from Mastercard Strive UK highlights that family-run businesses are less likely to worry about finding and keeping good employees: Just over one-in-five (21%) are worried about it, compared to almost a third (30%) of non-family-run businesses.

PROTECT TO PROGRESS

Gudgeon outlines the importance of defining lines; especially as family-run businesses often start with one family member being an investor and the other being much more hands-on.

“However, as the business moves forward, the investor might want more day-to-day involvement. Without clearly defined roles in the form of a shareholder’s agreement and/or Directors’ service agreement, the freedoms they unintentionally granted themselves can result in chaos and infighting,” he warns.

Although it may feel unnatural, drawing this line is vital, according to Nasir, to help set everything out clearly so everybody is on the same page. Having open conversations about expectations actually helps protect future family relationships too.

“Over the last year, the need for a business prenup has become more pressing, in part due to the ongoing economic uncertainty and the cost-of-living crisis applying pressure on businesses of all sizes. Any time of crisis or negativity tends to see an increase in money worries and business owners ensuring they have everything in order - hence the rise of the co-founder prenup,” he adds.

THE PROOF IS IN THE PUDDING

Davies also sees the positives in setting up a family business. The other side of the same coin is that the bind of a family bond or a historically close friendship can tie cofounders together in a business relationship for significantly longer than they would otherwise.

“ANYTHING CAN HAPPEN WHEN YOU LEAST EXPECT IT, AND MORE FOUNDERS ARE MAKING IT A PRIORITY TO BE LEGALLY PROTECTED.”

Ifty Nasir

“THE INTENSE, PROFOUND, AND WIDE-RANGING RIPPLES CAUSED BY THE FALLOUT FROM SUCH A DISPUTE CAN CAUSE IRRECONCILABLE FAMILY RIFTS.”

David Davies

“I have seen this resulting in a deeprooted and unvoiced antipathy towards the business and the other co-founder, meaning (in the best-case scenario) that the business will not be as successful as it could otherwise have been,” he adds.

Annabel Lui, Co-Founder of Cutter & Squidge, who runs the business with her sister Amy, is one such success story. They had business in their blood, growing up with parents running restaurants, and both sets of grandparents were also business owners, so that understanding of sacrifice and dedication to work was there for both of them from a very young age.

Lui believes that while there isn’t an exact science, alignment and attitude is key.

“The best part is that you are both singing from the same sheet. We are equal partners, and both understand that the destiny of our future is in our hands and no one else’s.

“The worst part is that we never stop. We can take work home with us as we are also best friends, we spend a lot of free time together. It drives our husbands crazy,” she says.

FAMILY TIES

Davies maintains that the key to success is for founders, whether related or not, to have regular and candid conversations about their respective expectations around the future of both the direction of the business and their respective, personal engagement with it. Record everything and seek professional advice where divergence appears.

“Of course, people’s aspirations, needs, and ability to make commitments (of time and/or

money) change over time, as their personal circumstances change.

“Long-term business relationships between relatives or close friends can work exceedingly well; these are built on a maintained level of trust which must be developed through regular communication - historic or family bonds will only take the success of the business so far,” he advises.

Like all healthy relationships, open communication and mutual respect will allow co-founders to outlive the honeymoon period.

WOULD

Submitting content to for our themed months, you can extend the reach of your business and brand, connecting with successful companies and professionals. When providing content to us, be sure to link to the month’s theme. We are also open to talking to leaders around the theme. Inclusion will be at our editorial discretion.

“WE CAN TAKE WORK HOME WITH US AS WE ARE ALSO BEST FRIENDS, WE SPEND A LOT OF FREE TIME TOGETHER. IT DRIVES OUR HUSBANDS CRAZY.”

Annabel Lui

Communicating with purpose

Did you know that purpose accounts for 57% of reputation, and reputation represents 63% of an organisation’s value*?

Target is an independently-owned PR and communications agency working with businesses and brands of all shapes and sizes, helping them to clearly articulate their purpose and grow their reputations among those that matter to them.

Business benefits

Having a clear purpose can bring many business benefits. In fact for many it’s become intrinsic to success - the Fortune 100 top performing companies are consistently those with purpose at their core.

This is because people expect organisations to better demonstrate how they contribute to society. As such, purpose-driven consumers who choose products and brands based on how well they align to their values now represent the largest segment of consumers (44%). It also has a big impact on the workforce and employee engagement. A recent survey by Everfi found that almost 70% of respondents would not work for an organisation that didn’t have a solid purpose. Purposedriven companies also see as much as 90% employee motivation and loyalty. However, articulating purpose clearly and effectively can be challenging for any organisation, irrespective of size or sector. That’s why communications is critical to being purpose-driven.

Planning with purpose

The strategic communications planning process we undertake often begins with needing to help a business define or refine their purpose, and how it connects with their vision and business priorities. We know that facilitating a focused discussion among the leadership team is what clients value most. These workshop sessions give the team the time and space to uncover differences in opinion, priorities and interpretations, enabling us to help bring clarity and agreement.

It’s important that any PR and communications plan we then develop supports the embedding of purpose into the company culture, before prioritising external audiences and channels. We then execute the agreed tactical delivery whether through campaigns, content creation and media relations, continuously evaluating progress as we go.

For more than 45 years, we’ve used our communications experience to manage and protect the reputations of businesses of all shapes and sizes, from the most advanced engineers, to daringly disruptive innovators, or muchloved market leaders.

Supporting social success

Using social media effectively can help to build like-minded communities and create opportunities to engage

with customers. A new study by BT also revealed that social media is the number one force helping UK businesses to turn a profit.

However, the study also found that one in five business owners have difficulty keeping up with the changing social media landscape.

Recognising these challenges, Target offers a packaged social media service, Social Media Ignite. Our award-winning social media team, with social media consultant and author, Luan Wise, takes clients through a three-step process to improve their presence on social media.

To find out how purposeful communications can contribute to the success of your organisation, or if you want to re-ignite your social media content, get in touch.

Rachel Meagher

T: 01242 633100

M: 07920 468412

www.targetgroup.co.uk

SILICON GORGE RISING

CAN THE SOUTH WEST TECH SECTOR SUSTAIN ITS GROWTH?

What condition is the South West economy in? Is it a thriving area for growth and funding? Where can the region do better? We answer these questions and lots more...

Uncertainty across the macro economy is rife, but this corner of the UK is brimming with possibility. Businesses are taking advantage of the favourable business climate by seeking possibilities to expand, whether by building their teams or diversifying into new markets.

FOODIE HEAVEN

The South West is a vibrant and diverse economy with much to offer. According to Briony Phillips, Special Projects Lead at Rocketmakers, the breadth and depth of industries and exciting new developments, including the launch of the Hydrogen South West Consortium and the impact of MyWorld (exploring the future of creative technology innovation), are to be celebrated.

“An impressive 211 companies have announced equity deals totalling £563.5m, with seven of those companies raising more than £10m,” she says.

Crispin Busk, Founder of Kabuto Noodles, based in Bristol, thinks the South West has a lot going for it from a quality-oflife perspective, and therefore attracts entrepreneurs and businesses into the area.

“In the world of food, there’s a huge spread, ranging from the big local ones, like Yeo Valley, down to the newer innovative ones, like Boundless Snacks. There’s lots of different bodies out there to help, including Government agencies, as well as support agencies,” he says.

According to Busk, the South West has one of the strongest heritages in the country vis-a-vis the food industry, and the region needs to promote this unique selling point even more.

TECH HUB

The South West is transforming into a bustling tech hotspot!

Home to 17,500+ tech firms, including big players like Software firm Cardstream, chip makers Graphcore, and engineering giants Dyson, it’s no wonder it’s been dubbed the ‘Silicon Gorge’.

The South West tech sector is set to grow to almost £20bn Gross Value Added (GVA) a year by 2026, creating over 125,000 new jobs, according to a study from Whitecap Consulting.

However, Phillips remains cautious.

“With the recent launch of the £200m South West Innovation Fund and the exit of Amdaris to Insight Enterprises (a Fortune 500 company), it’s easy to assume that the economy of the South West has never been in better shape.

“But there are also signs of challenging times - some of our favourite restaurants closing, funding delays and blockers for startups and scale-ups alike, and much more. In fact, earlier in the summer, Beauhurst demoted Bristol to being the 5th Top Startup Hub - down from 3rd place in their previous reports,” she warns.

SEASONAL NO MORE

The South West was traditionally seen as a seasonal destination. No more. According to Daniel Jenkins, Head of Client Services at Wagada Digital, seasonality has gone straight out of the window in terms of trends in business growth.

“While 2022 felt buoyant, Q1 this year saw high inflationary rates, along with the increase in interest rates for many, not just in the South West, but across the country. “However, in the last 2-3 months, things feel more buoyant and it feels like clients have more trust, courage, faith, and positivity

SET

in their outlook, in terms of dipping their feet back into the water and considering investments once again,” he says.

“We are seeing growth targets increase and businesses looking more ambitious in what were challenging conditions, during Q1. Certainly, into Q3, businesses feel as if they are beginning to find their feet,” he adds.

Jenkins is optimistic about the buoyancy of the economy, outlining the Golden Valley development in Cheltenham, offering many job opportunities.

“The move to establishing the UK’s Silicon Valley will create huge opportunities for this part of the South West region, and the expansion of a skills and educational pipeline,” he enthuses.

The new report ‘The Great Rural Revival’, shows £65.1bn could be added to the UK economy and employment could be increased by 6.8% through the creation of hundreds of thousands of new jobs if rural areas had access to excellent digital connectivity. The South West could benefit, and the local economy could unlock £7bn and generate 39,000 new jobs.

Robert Beauchamp, Managing Economist at Cebr commented:

“Our findings highlight how improved digital connectivity could unleash growth in the rural economy. These impacts would mainly be felt outside London, in regions like the South West. Improved connectivity could allow rural businesses to be more efficient, make full use of digital technologies, and create more jobs to strengthen the rural economy.

“Without improved rural connectivity, problems which could be solved will instead remain and the opportunities related to better connectivity would not be realised, meaning rural communities will continue to underperform relative to their urban counterparts.”

UPS AND DOWNS

Data from millions of card payment transactions was analysed as part of the takepayments UK Spending Index, which broke down consumer spending by region and industry. Results concerning the South West show that:

Consumer spending grew 21% from 2021 to 2022 in the South West, which was equal to the overall UK average growth of 21%. However, the story isn’t equal across the region - consumer spending in Cornwall only grew by 13%, whilst it grew by 25% in Dorset.

Compared to the South East, the economic growth since the pandemic has been slower - the South East’s spending grew by 36% between 2021 and 2022.

In 2022, The South West accounted for 8.4% of the UK’s spending

RURAL BARRIERS

Despite a challenging year for the business community amid rising inflation and economic uncertainty, many firms have been quick to adapt and innovate - and as a result are thriving. It’s these efforts we want to celebrate.

These results follow a recent stream of reports highlighting the fragility of Cornwall’s economy, which has struggled to recover following the disruption to tourism during the Covid-19 pandemic. Census figures from the Office for National Statistics also found that two in five Cornwall residents are economically inactive, with data showing 53.9% of households in Cornwall are “deprived” in at least one of the three dimensions of deprivation.

Over the last decade, digital connectivity has improved in rural communities across the UK, creating new opportunities within previously disconnected regions. However, a digital divide remains between rural and urban communities, which is preventing rural communities from achieving their growth potential, with many areas still unable to access reliable connectivity. Cont. 

ALREADY HOME TO 17,500+ TECH FIRMS

CREATE 125,000 NEW JOBS (ACCORDING TO WHITECAP CONSULTING)

PROS AND CONS

The pros and cons of business in the South West are two sides of the same coin, according to Crispin.

“With less major cities than other regions, there is a lower selection of people, and recruitment can be harder. However, the right people are often either close by, looking to move, or can work remotely. This does make recruitment a bit harder though,” he warns. Also, depending on where the business is based, it can be further from your major customers, meaning there’s longer and more expensive travel, he adds.

However, Jenkins is positive about the region and reveals there is lots of development in business-to-business growth, with towns such as Gloucester still attracting a lot of investment.

“Moving away from a London-centric feel to an area where talent is living on businesses doorstep, is beginning to cut through. Similarly, people who have moved away and then returned to the area, myself included, particularly for those with young families, supports this idea of a growing and strong workforce.”

He goes on to outline that accessibility is always a strong consideration, and with the M4 corridor, more open and accessible than ever before, particularly with the free bridge in place, it means there is more connectivity to surrounding areas and businesses in Wales.

“The location of the region within the UK means that businesses can develop

LINKEDIN POLL

IS THE FOUR DAY WORKWEEK GOOD OR BAD FOR BUSINESS LEADERS?

commercial relationships with other important hubs, such as Birmingham, Cardiff, and Worcester, for example, as well as increased employment opportunities.”

next generation and the South West’s core infrastructure.

“This might include sharing expertise, networks, specific experiences, or funding to enable the region to go further and faster,” she advises.

Looking ahead, businesses who continue to manage their working capital and monitor tight margins will be well-placed for a prosperous 2024.

GOOD 74% BAD 23% OTHER 3%

BUSINESS CONFIDENCE BOOM

According to the Business Barometer from Lloyds Bank, confidence rose 12 points during August to 46%, the highest reading since February 2022. Companies in the South West reported higher confidence in their own business prospects month-on-month, up two points at 49%. When taken alongside their optimism in the economy, up 23 points to 43%, this gives a headline confidence reading of 46%.

The economic and demographic challenges everyone in the UK is facing have led to a greater focus on business survival and less investment in collaboration. Phillips would like to see more ‘reinvestment’ (not just financial) from successful founders and business leaders into the

SOUTH WEST FOOD AND BEVERAGE FIRMS KICK ON POST-PANDEMIC

Amidst the formidable backdrop of the pandemic and the cost-of-living crisis, a striking 72% of South West food and beverage businesses are optimistic about the future, as per recent research conducted by PR agency Grayling. This research, in partnership with Taste of the West, highlights a notable uptick in revenue for many businesses since the pandemic's onset. Nearly 42% of these businesses have witnessed growth exceeding 20% since 2020, with just 10% maintaining the same revenue levels. Primary challenges faced in the past year include surging energy costs (34%), increased food production expenses (29%), and labour shortages (20%). Respondents

pointed to decreasing inflation (50%) and reduced energy prices (34%) as factors that could significantly benefit their businesses.

Reflecting on the past three years, the industry's resilience and determination have been critical in weathering the pandemic. Approximately 55% of businesses adapted their operations, leading to positive outcomes, including increased community support (37%) and successful digital transformations (33%).

COMPANIES IN THE SOUTH WEST REPORTED HIGHER CONFIDENCE IN THEIR OWN BUSINESS PROSPECTS MONTHON-MONTH, UP TWO POINTS AT 49%

“THE LOCATION OF THE REGION WITHIN THE UK MEANS THAT BUSINESSES CAN DEVELOP COMMERCIAL RELATIONSHIPS WITH OTHER IMPORTANT HUBS.”

Crispin Busk

SHAPING SOMERSET’S TOMORROW, TODAY

As Somerset embarks on a transformative phase of growth and renewal, Bridgwater & Taunton College (BTC) stands at the forefront, championing opportunities that truly benefit our community. Our goal? To guarantee that everyone has access to the essential skills training, opening doors to fulfilling and prosperous careers. I firmly believe that by channelling the power of education and skills development, we can pave the way for a brighter economic future, enriching both businesses and communities.

We pride ourselves on building partnerships with regional, national and international organisations to become their partner of choice. Such partnerships play an instrumental role in moulding a dynamic curriculum, perfectly aligning it with the evolving skill requirements of both Somerset and the UK which, in turn, unlocks opportunities for our community which reach well beyond the confines of Somerset.

A testament to our commitment to skills delivery is BTC’s involvement with the Hinkley Point C project, the UK’s newest nuclear power station. Our continuous engagement with diverse stakeholders ensures the skills needed for this mammoth project are delivered, spanning its many phases, from construction to operational.

This collaboration has also led to the creation of the National College for Nuclear, further cementing BTC’s place as a leading provider of nuclear skills training.

able to complete their qualifications without having to uproot or travel long distances, fostering a dedicated nursing community curbing the necessity for external and overseas hiring.

In anticipation of the future, BTC is well-prepared to support the groundbreaking Gravity scheme. As the UK’s first smart campus, Gravity aims to create a global hub of innovation, attracting high-tech businesses to Somerset. With its extensive industry connections, innovative curriculum, and commitment to upskilling, BTC stands as an invaluable partner for Gravity, ready to provide the skilled workforce necessary to make this ambitious vision a reality.

In an era of significant socio-economic shifts, Somerset requires an institution of world-class calibre to support economic revitalisation. BTC is proud to serve in this capacity, ensuring organisations and individuals are equipped with the necessary skills to thrive and further attract inward investment to the county.

Away from large infrastructure projects, BTC has demonstrated its tried and tested approach to skills development. The College was recently recognised for its approach to supporting the development of Somerset’s future nursing workforce. Our tailored programme enables students to stay and study locally, meaning they are

Bridgwater & Taunton College’s pivotal role in developing a Skilled and Revitalised Future

▴ National College for Nuclear

▴ Andy Berry – Principal and Chief Executive Bridgwater & Taunton College

READ MORE BUSINESS LEADER FAILURE STORIES HERE

THE BEST BUSINESSES USUALLY GET A

THINGS RIGHT

We all love a good business success story, but the reality is that the road to success is often tinged with failure.

The world’s most famous entrepreneurs have tasted it, but the lessons learnt from failure can be crucial in forging a successful career. We spoke to Avin Rabheru MBE, the CEO of Housekeep, about his experiences of failure and how it’s benefitted his business journey.

DO YOU THINK EVERY SUCCESSFUL BUSINESSPERSON HAS EXPERIENCED FAILURE AT SOME POINT?

Undoubtedly. I think that all business leaders experience minor failures all day, every day. What’s important is how you approach your work and how you respond to the failures along the way.

Successful people are curious and inquisitive, so they respond to failure with investigation and iteration rather than despondency.

WHAT’S THE BIGGEST MISTAKE YOU’VE MADE DURING YOUR CAREER AND WHAT DID YOU LEARN FROM IT?

I don’t really have a career blooper as such. I tend to think deeply about problems before tackling them in the first place. While it reduces the risk of failure, one of the consequences of this is that I’m probably slower to action than others.

Over time, this can result in you getting lost in the weeds, rather than focusing on the two or three things that can really scale your business. I’ve tried to combat this by starting each week by asking myself “What’s the goal?” and “What are the biggest things I can deliver this week to move the dial?” This has helped me to manage my time and improve my personal effectiveness.

WHAT IS THE BEST WAY TO BOUNCE BACK FROM FAILURE?

Firstly, you need to figure out why something failed.

Was it the hypothesis? If so, then abandon what you’re trying to do altogether. But if it was the implementation that led to failure, iterate, and try again in a different way. You should respond to your successes with the same critical eye. When things go well, interrogate why. Then ask yourself “Can I double down on this?” or “Can I achieve even more here?”

Ultimately, 80% of your results will likely come from 20% of your efforts. So, driving successful results – and your most effective people – even harder can be invaluable.

HAVE YOU LEARNT ANY LESSONS FROM THE MISTAKES MADE BY THOSE AROUND YOU, OR THOSE MADE BY OTHER SUCCESSFUL ENTREPRENEURS?

I was fortunate to spend nearly a decade of my career in venture capital, investing in young, early-stage businesses across various sectors, stages, and geographies. I’ve learnt a lot from those founders, hearing stories of what worked and what didn’t for their businesses.

I’m also still an active investor in many early-

stage businesses, so that’s like a directory of learnings over time.

If I’m to share one specific lesson, it’s that the best businesses usually got a very small number of high-importance things right –and that the rest didn’t really matter.

IS IT MORE IMPORTANT TO TRY AND FAIL AT SOMETHING THAN TO NOT TRY AT ALL? Of course – you’ve got to try everything once in life. But the risks you take with your business should be calculated. If failing at something could take your business under, then you need to think carefully before you leap.

DO YOU THINK BUSINESS LEADERS SHOULD BE MORE OPEN ABOUT THEIR EXPERIENCES OF FAILURE?

I’d express this the other way around.

I think business leaders should encourage those around them to think deeply about the challenges and opportunities ahead of them, then create an environment where calculated and rapid risk-taking and learning are encouraged. Of course, failure will undoubtedly result.

What business leaders should be open about is why they made decisions, what worked, what failed, and most importantly, why. 

VERY SMALL NUMBER OF HIGH-IMPORTANCE

▴ Avin Rabheru MBE - CEO, Housekeep

TOP 32 MANUFACTURING STARS

The manufacturing industry is vast and whilst we often praise the industry’s makers, the suppliers do not tend to be as well celebrated. But who are the companies behind the brands, what are they up to, and are they really as successful as they claim to be? For our latest Top 32 list, we looked at the top manufacturing stars to watch out for.

HOW HAVE THE TOP 32 BEEN CHOSEN?

The manufacturing companies included in this list have enjoyed significant growth over the past few years. From longestablished companies to relatively new start-ups, the impressive nature of these companies is taking the manufacturing industry by storm. This list includes a wide variety of companies, from cement producers to meat alternatives, that have been chosen for their recent successes. This list is in no particular order.

THISIn 2019, Co-Founders Andy Shovel and Pete Sharman set up the meat-alternative brand THIS, aiming to appeal to meat lovers and vegans through realistic products. They have a range of plant-based pork, chicken, and beef alternatives currently available in supermarkets and some key food service chains, including Greggs and Caffè Nero.

Named one of the UK’s fastest-growing food brands in 2022, with £20m+ annualised turnover after 3.5 years of trading, the company has scaled impressively since its founding. More recently, THIS raised £15m in Series B funding to assist in their expanding R&D capabilities.

SHELFORCE

The company started in 1839 as a workplace for visually impaired people, making brushes, baskets, and mats. Today, Shelforce specialises in supplying high quality windows and doors to local authority building projects, including Birmingham City Council. This strategic pivot didn’t alter Shelforce’s desire to provide a workplace for people with disabilities. The firm currently employs 30 people, of which 75% have a disability.

Shelforce has been recognised by The Kings Award for Enterprise in Promoting Opportunity. With a recorded turnover of over £6m, the company is on track to hit £8m this year.

▾ Pete Sharman & Andy Shovel Co-Founders, THIS™

BIOMASON

Utilising biology to produce cement, Biomason has been using microorganisms to grow sustainable, structural biocement since 2012. The company aims to eliminate 25% of the concrete industry’s global carbon emissions by 2030 (currently 7% of global carbon emissions comes from cement and concrete production), harnessing biotechnology to reinvent cement and offer a planet-friendly alternative.

In 2022, Biomason raised $65m (£51.2m) in Series C funding and have since been working towards accelerating the development of their biocement technology platform.

GILCREST MANUFACTURING

Dating back to 1946, Gilcrest Manufacturing is a composite panel manufacturer that has grown to specialise in cleanroom systems, being used by such notable companies as Rolls-Royce, Pfizer, and Dyson. In 2022, the company achieved the status of Carbon Neutrality after taking action to reduce its environmental impact each year.

With an estimated turnover increase of 148%, going from £2.8m in 2020 to £6.9m in 2022, Gilcrest Manufacturing has grown exponentially, largely due to its contribution to the pharmaceutical market throughout the pandemic.

NIM’S

A notable manufacturer of air-dried fruit and vegetable products, renowned for its range of crisps, garnishes, teas, ingredients, and pet food, Nim’s is a key manufacturing company in the UK. Utilising ‘rescued’ or ‘wonky’ produce, the company has a strong commitment to reducing food waste.

Following notable partnerships with the likes of Zizzi and Wagamama restaurants to food producers like Primula Cheese and Bennett Opies, Nim’s saw an 86% increase in turnover, and continues to grow with multiple developments in the works, including retail products to help tackle the rising cost-of-living crisis.

Cont.

CARBONCURE TECHNOLOGIES

A fast-growing carbon dioxide removal tech company, CarbonCure Technologies has developed a solution to enable concrete producers to use captured carbon dioxide to produce low-carbon concrete mixes. Aiming to work with concrete producers, CarbonCure Technologies has established itself in over 775 concrete plants worldwide to improve concrete’s economics and reduce its CO2 footprint.

Having raised $150m CAD (£87.3m) in funding to date, this company is seemingly dominating this space in the manufacturing industry since being founded in 2012.

LESTERS

Lesters is a UK-based independent manufacturer of large-format corrugated cases and highperformance packaging. Employing over 60 people in its facility in the West Midlands, the company has focused its expansion on creating an ecosystem around its core box range.

Celebrating its 40th birthday, Lesters has completed its major expansion plans that have seen sales more than double to £18m in three years. As well as creating over 20 new jobs, the company is seen as a major disruptor, reinforced by the multi-million-pound acquisition of two large-format casemakers.

POWERSHEDS LIMITED

Manufacturer of garden sheds, summerhouses, log cabins, and decking kits, Powersheds’ Founders had previous experience in the industry and setup the company in hopes of creating an industry standard for quality and service.

After establishing in 2019, the company has seen extraordinary growth, whilst facing several hardships like the pandemic and cost-of-living crisis. They have grown into a £15m annual revenue company with nearly 70 members of staff.

▴ Robert Niven Chair & CEO, CarbonCure Technologies

THE OXFORD HEALTH COMPANY LTD

The Oxford Health Company Ltd is an independent dietary supplement company based in Oxfordshire and distributed throughout the EU. With an emphasis on the quality of its products and services, the company’s choice to manufacture in the UK allows them to follow the strictest of guidelines.

In 2021, the company won a global environmental packaging award, recognising its work in this area, and in 2023 was listed by The Sunday Times as the 83rd fastest-growing private company in the UK. The company has also won several large contracts, including producing Vitamin D supplements for CEV patients during the Covid-19 pandemic.

PAPIER

Stationary brand Papier was founded in 2015 and has since expanded to sell a variety of products, from notebooks to diaries, photobooks to wedding invitations. The company has a focus on sustainability, making products to order to avoid excess stock, sourcing paper from FSC-certified forests, and utilising paper packaging for recycling at home.

At the beginning of 2022, Papier secured a £36.9m Series C investment for international expansion, with the US market reportedly accounting for almost 40% of the brand’s revenue at the time.

AURRIGO INTERNATIONAL PLC

Aurrigo International Plc is the company behind the driverless Auto-Pod and a new autonomous cargo dolly for aviation. The company saw revenues reach £5.3m in 2022 and has set out ambitious expansion plans to maximise new contracts in its automotive division. It has also entered a multi-year partnering agreement with Changi Airport Group in Singapore.

Founded by brothers David and Graham Keene thirty years ago, Aurrigo successfully raised £8m in an IPO last September and has used the financial backing to roll-out its transport technology in the UK, Europe, North America, and Asia.

AMPD ENERGY

A construction technology company that is dedicated to making the construction industry emission-free, Ampd Energy has developed the Enertainer, an advanced and connected battery system that replaces dirty, noisy, and hazardous diesel generators used on construction sites.

Having raised $27m (£21.3m) to date, the product has seen an increase in innovation in the construction industry. Since its deployment, the Enertainer has been used across 170 construction projects worldwide, preventing 29,566 tonnes of CO2 and removing air pollutants from construction sites.

▴ Aurrigo International Group

BRANDAUER

Brandauer produces high-tolerance metal pressings/stampings for customers in 26 different countries across 10 sectors, including automotive, construction, and medical. The company has recently announced a joint-venture with In-Comm Training that has seen an investment of £1m in a new Precision Tooling Academy, to aid the UK toolmaking talent crisis.

The company recorded its best year in 2022 after increasing its presence in electrification and securing notable contract wins to increase sales by 20% and take their turnover past £9m.

PP CONTROL AND AUTOMATION

PP Control and Automation is a UK-based manufacturing outsourcing specialist, including components for F1 cars, and protecting mobile phones from water damage, amongst others. Based in the Midlands, the company’s business model works with OEMs and ‘early disruptors’ looking to bring technology solving everyday issues to the market.

The company has increased its workforce to over 230 people as part of its strategic expansion plans, which have put it on course for £33m sales in 2023, a £9m increase on the previous 12 months.

MY FABULOSA LTD

My Fabulosa Ltd. is a manufacturer in household cleaning products, founded four years ago by CoFounders Mike and James Sharpe. After launching in 2019, Fabulosa has closed the latest financial year with £32.5m turnover. This is exponential growth for the company after the turnover figures for 2020 were £19.4m.

Since 2021, Fabulosa has been building its export channel, but has enjoyed further success through international trade, with 3,000 locations spread across the continent.

AEROSEAL

Aeroseal helps seal leaky HVAC units and building envelopes with chewing-gum-like material combined with AI and loT-equipped installation hardware. Since its founding, Aeroseal has raised $67m (£52.8m), continuing its mission to shrink carbon emissions with its technology by one gigaton of CO2 annually.

With over 200 employees, since the company’s founding in 2010, Aeroseal has sealed more than 260,000 buildings globally. More recently, the company has begun using its Series B funding for expanding into gas pipelines and new geographical markets.

▾ (Top L-R) Mike Sharpe - Co-Founder and Adam Burnett - Group Marketing Director

(Bottom L-R) Jennifer Sharpe - Chief Fragrance and James Sharpe - Co-Founder & MD

HOWORTH AIR TECHNOLOGY

Howorth Air Technology’s passion for air quality began in 1858 in the poorly ventilated cotton mills of Lancashire. With a vision to protect workers, Founder James Howorth began manufacturing apparatus to provide ventilation and improve air quality. In 1960, the company expanded, collaborating with Sir John Charnley after needing a clean surgical zone in surgery, creating the first UltraClean Ventilation system.

After being in a loss-making position to generating record annual profits over the last three years, Howorth Air Technology now employs 131 people and has expanded its operations. The company is a £20m+ turnover business, with a recorded growth of 89.27% in export sales over the last two years.

ALLOY WIRE INTERNATIONAL

A manufacturer of exotic alloys, Alloy Wire International supplies round, flat, and profile wire to more than 55 countries. Founded by Bill Graham in 1999, the company has recently extended its Employee Ownership scheme following a Management Buy-out in early 2023, including all 33 employees.

This ‘people-first’ approach has seen an increase in sales from £12.8m at the start of 2022 to a predicted £18m for the end of this year.

TYRONE FABRICATION

Located in Northern Ireland, Tyrone Fabrication is an expanding provider of intelligent enclosure solutions. The company combines CAD/CAM technology with over 30 years of manufacturing experience and is on a current growth trajectory of 37% annually.

From £16.4m turnover in 2021 to £22.5m in 2022, Tyrone Fabrication is consistently demonstrating its status in the rail, telecoms, data, and power and utility sectors. The company manufactures items from small meter and electricity cabinets to large Relocatable Equipment Buildings.

PAC GROUP

PAC Group, established in 2018 as Process Automation & Calibrations Ltd, has evolved from a team of eight to over 50 employees. In 2021, PAC Group was awarded a seven-figure contract from Aerosystems to deliver a hot drape former for its Aerospace Innovation Centre.

In its first year, the business achieved £2.6m in turnover, and has grown to over £8m turnover in 2022, despite the current economic challenges and those posed by Covid-19.

MYENERGI

Renowned for its solar-compatible zappi EV charger, myenergi sets the standard in green home energy innovation. Having pioneered an extensive portfolio of eco-smart home energy technologies, the business was recently recognised as one of the UK’s top ten fastestgrowing companies by The Sunday Times.

More recently, myenergi has secured £30m from HSBC UK to support the development and production of smart home energy products. Further to this, myenergi is set to become one of the leading home EV charge point providers after surpassing its 500,000-unit sales milestone.

▴ Jordan Brompton - Co-Founder & CMO and Lee Sutton - Co-Founder & CEO

LUCECO PLC

With over 70 years of experience, Luceco Group has a family of brands which manufacture and distribute LED lighting, EV chargers, electrical wiring devices and accessories, circuit protection, and portable power solutions worldwide. Brands under the company include Kingfisher Lighting, and Nexus.

The company also acquired DW Windsor Group in 2021, and Sync EV in 2022. Luceco has experienced 19.9% growth since 2019, with revenue increasing from £171.1m to £206.3m in 2022.

TRUELINE PRODUCTS

A family-owned manufacturing company celebrating its 30th year in business in 2024, Trueline Products delivers Render Beads, Expanded Metal Products, Fabrications for External Wall Insulation, and much more across the UK for the construction industry.

The company has invested significantly since 2020, including employee training and support, and laser machinery costing £1m. With its financial outlook being significant growth, having increased annual turnover by 15.1% from 2021 to 2022.

BLUETREE GROUP

Founded in 1989, Bluetree Group now employs over 400 people after rather humble beginnings. The company operates through four brands: instantprint.co.uk, Route1Print.co.uk, kingsburypress.com, and bluetreemedical.co.uk, the latter being the first manufacturer of Type IIR Surgical face masks.

The Group is certified as Carbon Neutral and actively measures and reduces its greenhouse gas emissions, with an increase in recycling rates averaging 91.2% and a 43% reduction in packaging spanning 2020 to 2022. Bluetree Medical has reported a 68% increase in revenue from £53.2m in 2021 to £89.6m in 2022.

▴ (L-R) Matthew Pates - QSHE Manager, Sarah Cooper - Finance Manager, Ryan Taylor - Operations Manager, Luke Wellings - Company Director, John Gilmore - Communication Manager and Joshua Barrington - Commercial Manager

BRITON FABRICATORS

Established in 1973, Briton Fabricators Limited is privately owned by the Bontoft family, managed from their Midlands office and fabrication plant in Nottingham. The company has steadily grown over the past few years, with notable clients including National Highways and Network Rail. Specialising in the design, build, installation, and refurbishment of gantries, footbridges, steelwork, and much more, the company’s manufacturing facility is dedicated to Infrastructure Engineering.

With a reported turnover of £23.5m in 2022, Briton Fabricators experienced a 37% increase from 2021, where they saw a turnover of £17.1m.

CALBEE UK

Calbee is a manufacturer of crisps and snacks headquartered in West Yorkshire. In 2018, the company acquired Seabrook Crisps, leading to significant expansion. In the year to December 2022, the company reported a turnover of £56.9m, a 21% increase on the previous year. Calbee has recently invested £3m in technology and manufacturing, and a further £12m crisp capacity expansion plan is about to be implemented at the Seabrook manufacturing site, totalling over £15m and creating over 50 new jobs across both sites.

BRAMBLE ENERGY

Bramble Energy was founded in 2016 and has grown to employ over 80 people. Through its PCB-X platform, they are expediting the worldwide reduction of carbon emissions whilst establishing sustainable sources of clean energy.

Bramble Energy has recently unveiled a new multimillion-pound headquarters with a hydrogen innovation hub, aiming to level up the UK’s hydrogen and fuel cell testing capability.

FABWELD STEEL PRODUCTS

Fabweld Steel Products is a manufacturer of access covers and other fabricated steel products, including non-structural and structural applications. The company has been selected to supply major projects in the construction, water management, utility, renewable energy, and security sectors.

Over the years, it has provided steel products for high-profile projects including London Power Tunnels, Premier League football stadiums, the O2 Arena, and the Natural History Museum. The company has grown its turnover by 20% over the past two years whilst cutting energy usage by 50% over the same period.

QUELL THERAPEUTICS

Founded out of frustration for ‘default’ exercise, the founders of Quell Therapeutics set out to build an immersive and entertaining video game that incorporated exercise. Quell Therapeutics is set to launch their Impact device and game, Shardfall, attempting to appeal to both the £1.8bn UK fitness market and the £2.6bn UK video game industry.

The company recently closed a $10m (£7.9m) Series A funding round, building on the $5.5m (£4.3m) seed funding round at the end of 2020.

UK DOORS ONLINE

UK Doors Online manufactures French doors, sliding doors, aluminium bifold doors, composite doors, and roof lanterns. Launched in 2020, the company was established with the aim of driving aluminium manufacturing into the future.

After three years, UK Doors Online has expanded beyond West Yorkshire and opened a London-based factory. With its steady expansion, the company has been able to increase the rate of recruitment, despite the industry’s skills shortage.

MEADOW

Meadow has grown into a £550m value-added ingredients business specialising in dairy, confectionary, ice cream, prepared foods, and plant-based industries. They also claim to be the only independent chocolate crumb and sweetened condensed milk manufacturer in the UK.

With a dedicated team of food specialists focused on produce innovation, engineering, and improvement, Meadow works with its customers to create products and services they need. More recently, the company acquired sweet sauces manufacturer, Naked Food, further enhancing its offering.

GOODFELLOW CAMBRIDGE LTD

A global supplier of materials that meet the research development and specialist production requirements of science and industry, Goodfellow Cambridge Ltd. is a leader in its field. The firm has introduced several specialist metals and materials to its range that have helped solve production bottlenecks and bring products to the end user.

Goodfellow Cambridge sales have increased by 20%, presenting year-on-year growth for the business. Turnover has also rocketed to £23m, seeing the workforce increase by 25, following a recruitment drive. 

leader in focus

NATASCHA VAN BOETZELAER TRANSFORMING LEADERS TO TRANSFORM COMPANIES

In the fast-paced world of digital transformation, Natascha van Boetzelaer shines as a prominent thought leader on all things related to digital talent and organisations.

As a seasoned expert based in the Amsterdam office of global leadership advisory firm, Egon Zehnder, she has been instrumental in guiding both disruptive start-ups and established companies through the intricacies of digital capabilities on a global scale.

With a diverse portfolio of clients, Natascha collaborates with a wide spectrum of talent, ranging from visionary leaders driving transformation in traditional enterprises to trailblazing entrepreneurs leading pure-play ventures. She also partners with domain experts in critical areas like product and technology, growth, artificial intelligence, and data science, enabling companies to stay ahead of the digital curve.

We speak to Natascha about the difference in leadership over the years, the benefit of hiring talent from outside your sector and much more.

COULD YOU GIVE US A BIT OF A SUMMARY OF YOUR CAREER TO THIS POINT?

When I graduated from McGill University, having studied econometrics, I was mostly interested in studying abroad because of my curiosity. I didn’t have a dead-set idea of what I wanted to do. This was in the late 90s, an age of with difficult strategy, consulting, and investment banking options, and I was lucky enough to be offered a choice.

My father had been in banking and said that strategy consulting would be a better fit, so I joined a company called Mercer Management Consulting in London and loved it. It was later acquired by Oliver Wyman, but I got access to many different types of sectors. After two years, I felt that I wanted to be closer to the action than being a strategy consultant. One of my colleagues, and now dear friend, had moved to a company that was backed by a venture firm called Arts Alliance.

He introduced me to the Founder, and I went to see him with the idea that he’s got something in his portfolio that would fit me. I met him and heard about what they were doing, and it was so exciting. So, I said to him, “Look, I’d love to work for you,” and he said, “Well, that’s great. But I don’t have anything available right now. But I’ll call you if anything comes up.” A week later, he calls me back and he said, “Look, we’ve actually got room for an analyst. Come and meet a few more people.” So, that started my sixyear career in venture capital.

We were working with businesses and entrepreneurs, such as lastminute.com, Kiala, and lots of exciting companies in Europe and in the US. After a couple of years, the bubble burst and we looked in a different direction. I had two young kids at the time. My husband, who’s also Dutch, and I decided it was time for the family to move back to the Netherlands. I got in touch with Egon Zehnder after the move. At first, I wasn’t too interested in doing search or headhunting, but they introduced me to a private equity firm, as an investor relations officer.

I did that for six months and found that I really wanted to do something more dynamic and work with people rather than assets. They agreed to pivot my role, and that was 16 and a half years ago. So now at Egon Zehnder, I work with everything consumer internet and a bit of SaaS too. I have amazing colleagues and love what I do.

WHAT WAS IT ABOUT THE ENTREPRENEURIAL SPIRIT THAT HOOKED YOU?

It is the passion and the drive. I love to meet people who are so convinced about a product or service, and that are fiercely determined. In the Arts Alliance days, I spoke to people, with families, who would take a second mortgage on their house, sell their car, and had an unwavering belief in what they were doing.

On the other side of that, you meet some people who are working in large corporates, and they came across like they were just doing a job. They were basically just ticking through the hours. This was in stark contrast to entrepreneurs who had committed their whole life to making their dream happen.

WHAT KIND OF DIFFERENCES HAVE YOU NOTICED IN LEADERS THAT YOU PLACED AT THE START OF YOUR CAREER TO THE ONES YOU’RE PLACING TODAY?

A lot, of course, has been driven by the world that we live in today. We say that the world has become a lot more complex, rather than complicated. Complicated problems you can solve in linear ways. Complex problems, you can’t. A basic example of this is when people first went to the moon. That’s complex. But today, where there are macro and geopolitical challenges, you need to think of digital transformation, sustainability, diversity, and inclusion, etc. As a leader, there are so many things coming at you that operating in a complex setting requires a different kind of leadership.

What does that mean, in terms of a leader?

A leader is no longer an autocratic, top-down leader who has all the answers. Someone who can set a three-to-five-year strategy, not necessarily on their own, but even with just their core leadership team. A leader today is someone who enables an environment where people can innovate, where people can experiment, and where you inspire the people in your organisation to come up with ideas.

The second is that there is that degree of honesty, maybe even vulnerability, required. A leader will get much more respect if they are willing to say, “Look, I don’t have all the answers, and we need to find the answers together. Here are some of the questions I’m asking myself...” When you create that kind of openness in your organisation, it also makes it psychologically safe for others to want to come up with ideas and to feel comfortable enough to suggest things. Whereas in the past, they were just kind of taking orders and executing.

And then, of course, there’s sustainability. Most talent, especially younger people, will only join organisations that have a purpose. I’m not saying that purpose only needs to be around sustainability specifically, but companies need to be purposeful. People can really sense whether it’s authentic or not, so the organisation, and the leaders specifically, need to be a lot more authentic. The talent also wants to know about diversity and inclusion. Not just talking about it but having evidence to back it up.

WE’VE SPOKEN TO PEOPLE WHO BELIEVE THAT HIRING SOMEONE THAT’S COMPLETELY OUTSIDE OF THEIR SECTOR CAN GIVE THEIR COMPANY THE EDGE. IS THIS SOMETHING YOU’VE NOTICED?

This is definitely something we’ve noticed, and there are reasons for it. It goes back to my point about the type of leadership required in this day and age. When you stick to hiring in a specific sector, often you

“A LEADER TODAY IS SOMEONE WHO ENABLES AN ENVIRONMENT WHERE PEOPLE CAN INNOVATE, WHERE PEOPLE CAN EXPERIMENT, AND WHERE YOU INSPIRE THE PEOPLE IN YOUR ORGANISATION TO COME UP WITH IDEAS.”

cannot find the person who is that evolved, in terms of leadership, because there are some sectors that started evolving in this direction earlier on. If I just think about digital transformation, the sectors that were closer to the consumer had to change early on, because the consumer expectations were changing.

If you think about media, retail, and banking, those were some of the sectors that were affected by digital transformation much earlier than the others. There are some sectors that are only now bringing in leaders to drive their digital transformation, just because they didn’t really need to, and there was no real sense of urgency.

We really encourage our clients to open the candidate pool and look at different sectors. We also ask them to establish clarity on what of the requirements are ‘must haves’, and what are ‘nice to haves’.

WHAT IMPROVEMENTS DO YOU FEEL LEADERS NEED TO FOCUS ON MAKING?

We did a big study amongst CEOs two or three years ago and, for us, the biggest insight there was that leaders are saying that in order to transform their company, they need to transform themselves. They’re starting to say, “Wow, this is really so

demanding on me. I am not equipped in how I show up as a leader today.”

Over the past years, we’ve developed quite a few transformational programmes where we work with leaders, put them in a group of 15-20 likeminded people, and work with them to really develop much more of an understanding of who they are, but also what has made them into who they are. Looking into questions like “Why do I feel triggered by this?” etc. Often those are patterns that are developed in their childhood. We work with them and help to unlock access to the much broader range of

leadership capabilities they have. I think that’s a massive opportunity for many leaders, but it requires a willingness to work with someone, without judgment, to really understand yourself. It also requires you to be much more open to feedback.

I really wish that more companies had more of a feedback culture so that people can learn about themselves. We’re seeing this more in younger generations. They want feedback on the fly, not just a once-a-year, formal feedback survey. 

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“THERE ARE SOME SECTORS THAT ARE ONLY NOW BRINGING IN LEADERS TO DRIVE THEIR DIGITAL TRANSFORMATION.”

COUNTDOWN TO THE ELECTION

WHAT CAN WE EXPECT FROM A LABOUR GOVERNMENT?

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

All the opinion polls predict a massive Labour victory at the forthcoming General Election – talk is of a Tony Blair-style landslide.

Assuming Labour does win over half the 650 Parliamentary seats what should we expect from Prime Minister Starmer and his Labour Government?

As John F. Kennedy said: “Victory has a thousand fathers, but defeat is an orphan.” Expect all the old Blairites, trade union leaders, some senior business executives, and even Corbynites to start crowding around the new PM.

The Tony Blair Institute for Global Change is already strongly associated with Starmer’s campaign. There is talk that Alistair Campbell – Blair’s former press officer – is advising the Labour leader and Jim Murphy – a key minister under Blair who went on to work at his Institute – is moving his business, Arden Strategies, much closer to the Labour brand.

BUDGET BATTLES

You’ll see all the trade union General Secretaries (Unite, Unison, USDAW, CWU, GMB, FBU and more), which sponsor Labour, trotting down Downing Street to try and get a return on their member’s money. And some business leaders will be quick to embrace the new regime, just as they did with New Labour in 1997.

It’s hard to predict how the wider financial markets will respond to a Labour victory, much depends on what they do in the first 100 days. One would expect the new

Chancellor, Rachel Reeves, to approach the economy in a similar way to Gordon Brown back in ‘97, which would mean them sticking to the Conservative’s fiscal spending constraints.

However, expect tension within the new administration. Ed Miliband is insistent on borrowing £28bn a year to fund his

green plan. This is all about creating environmentally friendly jobs and infrastructure, which might well reduce CO2 emissions, but it also means there will be no money for more conventional projects, such as road building, schools, or Ministry of Defence initiatives.

The Labour five-point immigration policy also commits to spending 0.7% of Gross National Income (around £15bn) on aid to developing countries. Funding on this scale can’t come from economic growth, so taxes will have to rise, or they’ll need to borrow even more than is being borrowed currently – that could spell disaster for the economy.

CLIMATE CRUSADE

Sticking with Miliband’s climate change ambitions, we know Labour will ban North Sea oil and gas exploration which will increase energy bills, and until recently, they were committed to introducing Ultra Low Emission Zones (ULEZ) not just in London, but across all major cities – another tax in all but name.

Touching upon immigration, one has to wonder whether a Labour Government will have a more open borders policy. Keir Starmer, and new members of his latest Shadow Cabinet, are strong EU Remainers and have supported freedom of movement. It begs the question of whether, once in power, they will see an amnesty for illegal immigrants as part of the solution.

In terms of health, we should expect more money than ever going into the NHS, propping up a system that is more about supporting its employees than it is the patients. The unions’ grip on Labour will ensure that any cash injection rewards their members before anyone else.

Talking of state-owned enterprise, in recent years, Starmer has also backed nationalising a range of private businesses, from the rail network and water companies to energy businesses. Whilst we may agree that many of these monopolies are poorly regulated, can we, as a country, really afford to buy back all the shares, reorganise management and give them yet another rebrand?

STARMER’S DILEMMAS

One of the first policy initiatives announced by Starmer, based on a report by Gordon Brown, promises greater devolution and replacing the House of Lords with an elected chamber.

One might assume that more democracy is good for us, but don’t be duped into believing giving greater powers to devolved administrations is a panacea. We only have to look at the failings of Labour in Wales, the SNP in Scotland, and the ineffectiveness of some regional mayors to know the model doesn’t always deliver.

As for Lords reform, lots of Labour peers have already come out against it, meaning that a Labour Government will get mired in a legislative process which blocks up any new proposals they want to get through.

Then there is the issue of tackling crime. Previous Conservative Government cuts to the number of police officers have undoubtedly impacted on the ability to solve crime, but so has the woke agenda of senior Chief Constables. More effort seems to go into policing the internet and social media than solving burglary.

Credit to Suella Braverman, the current Home Secretary, police numbers are now beginning to rise, and she recently announced a crackdown on woke policing. Her aim is to get rid of Pride flags on uniforms and police vehicles, stop officers from taking the knee for Black Lives Matter (BLM), and halt the use of she/her pronouns to describe trans-rapists.

A Labour Government will be challenged to find the funding to continue increasing police numbers and as concerning is their attitude to the whole woke agenda. Starmer has struggled to define a woman, he and Angela Rayner take the knee in their parliamentary office to celebrate BLM and Scottish Labour supports youngsters self-identifying and changing their gender.

The idea that a Labour Government will eradicate the woke agenda which has infiltrated our policing and educational establishments is for the birds.

As the General Election creeps ever closer, we need to scrutinise exactly how a Labour Government will behave, then we can be more decisive about how we should vote.

READ SIMON’S WEEKLY COLUMN

“THE IDEA THAT A LABOUR GOVERNMENT WILL ERADICATE THE WOKE AGENDA WHICH HAS INFILTRATED OUR POLICING AND EDUCATIONAL ESTABLISHMENTS IS FOR THE BIRDS.”

HENRY DIMBLEBY MBE AT HOME GROWN: COOKING UP BUSINESS SUCCESS

Home Grown, the UK’s leading business club, stands as a beacon of entrepreneurial growth in the heart of Marylebone. With strategic partnerships with organisations like Harvard Business Alumni, Coutts and Beauhurst, Home Grown offers unparalleled access to the finest minds in business. Home Grown’s commitment to fostering growth goes beyond the ordinary, with tailored benefits such as marketing and leadership coaching, scaling up strategies and brand development. Initiatives like Green Shoots and the Investment Series provide expert guidance, making Home Grown a nurturing environment for promising businesses.

The club, adorned with elegance and contemporary design, features 35 bedrooms, private dining rooms, business lounges and meeting suites, all designed to facilitate professional connections and collaborations. Home Grown’s membership package offers a wealth of benefits, including exclusive business talks, leadership seminars and invite-only dinners, attracting over 1,300

seasoned entrepreneurs, investors, and global business leaders.

The latest instalment in Home Grown’s Rockstar Series brought forth Henry Richard Melville Dimbleby MBE, a renowned British businessman and cookery writer. As the Co-Founder of Leon Restaurants and the Sustainable Restaurant Association, Henry has left an indelible mark on the culinary world and sustainability efforts. He graced Home Grown’s stage in conversation with Alan Smith, Founder and CEO of Capital Partners, in an event that illuminated the journey of a true business rockstar.

Henry Dimbleby’s entrepreneurial journey began with an unconventional start – renting out magazines. His love for initiating ventures was evident from the beginning, setting him apart from those solely focused on global problem-solving through business. His diverse career path traversed physics, philosophy, cooking, journalism, and management consulting before he found his true passion in food.

During the conversation, Henry emphasised the pivotal role of having a

co-founder, acknowledging the challenges and advantages that arise from such a partnership. He and his Co-Founder, John, complemented each other’s skills harmoniously.

▴ Henry Dimbleby MBE - Co-Founder, Leon Restaurants

Branding emerged as a core theme in Henry’s discourse. He delved into the art of creating a distinct brand identity for Leon, a fast-food business, while preserving some familiarity with the fast-food concept. Striking this balance was crucial for attracting and retaining customers. The evolution of Leon’s branding, from handwritten chalkboards to sophisticated food photography, demonstrated the brand’s commitment to growth and innovation.

One fascinating aspect of Leon’s journey was the origin of its name. Henry Dimbleby recounted how a friend initially disliked the name and predicted failure. However, Henry and John intentionally chose a nonpropositional name that allowed customers to build a complex, emotional relationship over time. They brainstormed various options, but they eventually settled on “Leon,” which carried visual appeal and a warm, Mediterranean feel. This inclusive name could resonate with various cultures and religions, making it unique.

The name “Leon” even underwent a playful transformation to “Noel” during the Christmas menu, adding a touch of humour to the brand and endearing it to customers.

Henry Dimbleby’s wisdom extended beyond the Leon brand. He shared valuable insights for entrepreneurs:

• Equity management: Caution and strategy are vital when distributing equity in your business during fundraising or sales negotiations. It can profoundly impact your business’s long-term value.

• Focus on product quality: Consistently delivering a superior product is a key driver of success and growth in a consumer-focused business.

• Continuous learning: Consider hiring a coach to navigate challenges, improve leadership skills, and grow as an entrepreneur.

• Passion and purpose: Staying true to your passion and original purpose can help maintain a strong sense of mission as your business expands.

• Balancing commercial incentives: Finding the right balance between commercial incentives and core values is essential for long-term success and impact.

• Adaptability: Pragmatism and adaptability are crucial in making business decisions that allow your product or service to reach a broader audience.

• Spread your message: If you have a cause or message, consider avenues like writing a book or advocacy to amplify your impact.

As we bid adieu to this inspiring evening with Henry Dimbleby MBE, we’re excited to announce the next Rockstar on the Road event. Following Home Grown’s recent gathering in Manchester with Green & Black’s Founder, Jo Fairley, they will next be heading to Bristol on Thursday, 26th October.

Stay tuned for another captivating conversation that promises to ignite your entrepreneurial spirit. Home Grown is dedicated to nurturing your business growth, one rockstar conversation at a time. See you in Bristol. 

TRAINING & RECRUITMENT SECTOR REPORT

We take a deep dive into training and recruitment, looking into its state post-Covid and unveiling the successes and where things need to be improved. The training sector is calling out for more Government support, with the financial viability of the skills sector at risk.

However, the recruitment and staffing industry contributed £42.9bn of direct Gross Value Added (GVA) to the UK economy in 2021, indicating a 21.7% increase from 2020. Additionally, the Recruitment & Employment Confederation’s latest Recruitment Industry Status report demonstrates the huge role recruitment and staffing firms played in driving economic recovery, with 22.4 million temporary or contract placements and 540,000 permanent placements made in 2021.

THE SECTOR

Ashley Ramrachia, CEO and Founder of Academy thinks we are seeing the biggest and most radical reshaping of the workforce in modern history with automation, AI, and technology advances radically transforming the nature of work.

“Entire professional fields will decline while new tech-enabled roles boom, causing huge mismatches between AI-affected areas like customer services and tech, where demand for AI, Cloud, and cybersecurity skills is outstripping supply by 5:1.

“This is accelerating the need to reskill and deploy today’s workforce for tomorrow’s jobs at scale and I’m concerned that our traditional hiring and education pathways are simply not meeting the challenge at scale or speed,” he says.

Nichola Hay MBE, Director of Apprenticeships and Policy at BPP, thinks UK businesses have been struggling to bridge the persistent skills gap in the workforce economy, particularly in sectors such as sustainability, tech, and healthcare.

As such, the value of apprenticeships and traineeships is being recognised as a way of addressing these talent shortages, with training providers working increasingly hard to support the upskilling of UK employees.

“However, the training sector is calling out for more Government support. The financial viability of the skills sector is at risk given the challenging economic environment we’re in, which will only worsen without action from the Government,” she says.

GOING FOR GROWTH

How are things looking now? With a renewed focus on winning new business and leveraging technology, Jonathan Beech, Managing Director of Migrate UK, advises that employers should check if the required job roles are on the extensive shortage occupation list if they haven’t already.

“If a business or organisation hasn’t already explored sponsoring overseas workers, whether via skilled worker or other routes, this is also open to exploration – we regularly help organisations who have previously struggled to fulfil positions meet crucial job requirements through sponsorship.

“Just 3.5% of UK employers possessed a licence to sponsor EU or non-EU workers, despite widespread talent shortages in the last quarter of 2022. We advise any business large, or small, suffering from persistent skills shortages to apply for a sponsor licence to support their recruitment,” he adds.

According to Ramrachia, traditional hiring processes select talent based on backwards-looking indicators like pedigree and prior experience. He goes on to say that this is constraining the supply and diversity of the talent pool by screening out exceptional female and minority talent from tech.

“We’ve partnered with forward-thinking companies like Aldermore Bank, Dojo and Ocado Technology to pioneer a new model for building talent. By evaluating the forward-looking predictors of success, we’ve been able to radically reverse the gender gaps in tech by screening in for potential, not pedigree,” he adds.

SKILLS GAP

In a bid to address the critical digital skills gap, the UK Government’s previous initiatives have fallen short, leaving businesses grappling with the consequences.

Stefan Tornquist, SVP of Learning and Research at Econsultancy, thinks that the time has come to address shortcomings in the UK’s business landscape and find a fresh approach to digital skills training to make the UK ‘fit for the future’.

“Rishi Sunak’s £3bn funding promise in 2021 was a mere drop in the ocean, while Liz Truss’s ‘growth’ plan in 2022 ignored the pressing need for skills development, resulting in a staggering £63bn loss to the economy.”

According to Hay, the rise in the diversification of sectors in recent years and subsequent skill requirements has created a significant number of new job opportunities too, which apprenticeships should be helping to fill.

“However, to ensure the demand for skills matches the supply, we need to ensure that the provision of entry routes, upskilling, and retraining for talent matches the scale of the needs of the economy as well,” she adds.

APPRENTICESHIP AID

Apprenticeships are a fantastic way for people to learn the skills that will help them get on in life and help boost the productivity of businesses.

“However, over the last three years, the apprenticeship programme budget has not kept pace with the increased apprenticeship levy uptake. In fact, by combining the unallocated funds and programme budget underspend, it’s estimated the apprenticeship sector has been shortchanged by over £1bn,” Hay warns.

“THE FINANCIAL VIABILITY OF THE SKILLS SECTOR IS AT RISK GIVEN THE CHALLENGING ECONOMIC ENVIRONMENT WE’RE IN.”

Nichola Hay MBE

“It’s not just the skills sector calling for more support either. Retailers, hospitality businesses, the tech industry and recruiters have called for urgent reform of the apprenticeship levy, if it’s to continue increasing productivity, fuel economic growth and raise wages,” she adds.

However, there is hope ahead. The NHS has announced its ambitions to train one in six doctors using apprenticeships, while the nursing sector has been using apprenticeships for a while.

LEARNING & DEVELOPMENT

When companies take learning and development seriously, they see higher enthusiasm and longer tenure, according to Tornquist.

“We recently fielded research which found that when development programs align with career aspirations and offer diverse learning options, only 19% of employees struggle to find time for training.

“Companies need to cast a critical eye over their existing learning and development programs, identify critical skills gaps and take steps to motivate and bring their employees along the upskilling journey, for mutual benefit,” he adds.

People are more important to achieving transformational growth than new technology.

“So, effectively marrying professionals’ need for dynamic, ongoing learning with the objectives and outcomes of a company’s development programmes can help everyone involved to stay engaged and ahead of the curve,” according to Tornquist.

There is a greater demand for workers with technical and digital skills, with the aim to raise productivity. This demand is being driven by rising digitisation and automation of processes, goods, and services.

Businesses should invest in workplace training and development and help employees in continuing their education and retraining throughout their working careers, due to the pace of change and ongoing skills shortages.

SOLUTIONS, SOLUTIONS, SOLUTIONS

Being sponsored by an employer is the next logical step and this process can be actioned from within the UK.

“If organised at the correct time, there should be no disruption to the employee’s work,” according to Tornquist.

The Association of Employment and Learning Providers (AELP) has called for immediate support for apprenticeship providers with an across-the-board uplift of 10% in funding for all apprenticeship training providers, as well as raising the maximum Government

contribution above the current £27,000; and the introduction of a minimum Government contribution of £5,000 per year across all apprenticeships, according to Hay.

“We also need a post-16 skills system that is coherent, coordinated, and aligns with strategies across all Government departments – Department of Work and Pensions, Department for Education, and HM Treasury,” she says.

ROUTES TO WORK

The Government has introduced some new immigration categories that could help with short and longer-term vacancies. Beech outlines them below:

• The Graduate visa: Overseas students who have successfully completed a degree level qualification in the UK can apply to stay for two years (three for PhDs) and work with very little restriction.

• The High Potential Individual visa (HPI): This visa concentrates on those students who have graduated within the last five years from one of the world’s top 50 universities (not including the UK). Tornquist believes the potential market here is very large, with over 5.2 million students having enrolled at the listed universities over this time.

• The Temporary Worker: This route has been used widely in its many guises over the years. Again, little restriction and although there is a quota in place, this could soon be increased when the UK/Australia trade agreements are finalised with higher numbers, increased visa duration, and people up to 35 years old (increased from 30) allowed to travel to work in the UK without the need for a sponsor.

Sally Hunter, Managing Director (EMEA & Global Accounts) at Cielo Talent, acknowledges that as tech firms look to reduce costs and slow down or stop hiring, there is a need to take this opportunity to reset workforce planning.

“Now is the time to assess intern, apprenticeship, and graduate strategies in order to come out strong. The challenges posed by the scarcity of experienced hires persist, despite the absence of high demand for hiring.

“The pursuit of innovation means employees need to possess learning agility and behavioural ease in embracing tasks that are still in the process of being invented,” she advises.

SECTOR BUOYANCY

Whilst the market was indeed buoyant initially in 2021 and early 2022, that buoyancy has since reversed and we’re now seeing a significant number of layoffs – both for in-house recruiters and tech employees overall, according to Hunter.

She reveals the fintech and technology sector remains sluggish with demand for talent at the lowest level they have ever seen, meaning recruiters who saw a surge in their earning potential and career opportunities are now finding that they’re out of work.

“The hypergrowth in demand coming out of the pandemic has now turned into, at worst, lay-offs and at best holding onto the current headcount and allowing natural attrition to reduce the overall cost. The US is faring even worse than the UK, with the sentiment at present being that the recovery for this sector will likely be in late H1 2024,” she adds.

Martin Hartley, Group CCO of emagine Consulting, remains optimistic.

“The UK leads globally, and if you look at the US recruitment market, all the top firms have British MDs and Directors, so the UK really does set the bar. People often say if you test yourself in a British company first, you know you have the ability to work anywhere in the world,” he says.

FOCUS ON FINTECH

Every company is now a technology company, as major enterprises digitally transform and build new technical capabilities in-house.

Prakash Pattni, Global MD for Financial Services Digital Transformation at IBM, reveals that fintech has always struggled to find the right talent, but to capitalise on emerging tech like generative AI, leaders are competing for an increasingly sought-after pool of skilled professionals.

“However, these skills have the potential to move across industries – in that they aren’t specific to fintech – and fintechs can look to talent pools in other sectors for skills relating to cybersecurity, for example,” he adds.

The landscape of tech roles is changing in businesses too. For example, banks are moving to providing services online, instead of customer-facing facilities, and the rise of AI and its potential uses still need to be investigated and integrated into the workforce. It is therefore more important than ever for the tech sector to reskill the existing workforce to keep up with this ongoing innovation, according to Hay.

Generation Z workers increasingly make up a large part of the workforce, and recent research suggests they prioritise their work-life balance over the hustle culture that

previous generations embraced, according to Pattni.

“In order to attract and retain the best future talent, fintechs need to speak to this need for greater flexibility and balance. Many fintechs were established with working practices to fit this trend, but others will need to adapt and place more emphasis on their culture and employee benefits,” he advises.

learning is here to stay. With rising costs of facilitating in-person courses, training providers are seeing the real benefit of going virtual.

The most popular course types (in-house and workshops) last year have both declined in number this year, with training providers sharing that they expect a further 14% drop in focus of these course types in the next 12 months.

Conversely, virtual course types, such as e-learning and blended learning, are averaging at similar levels to 2022 and are predicted to increase in popularity next year. Over 50% of training providers say blended learning is a focus for them in 2024.

Pattni points out it’s important that fintechs differentiate themselves in a crowded market. While more established companies can potentially offer larger pay packages and more extensive benefits, up-and-coming talent are also looking for purpose.

RESET TO GROW

Businesses need a highly skilled workforce to compete with foreign competitors. Successful models are founded on an employer-led skills system that is stable and coherent, with access to prestigious technical and vocational certifications, excellent career support, and chances for lifetime learning and ongoing reskilling.

“Many organisations have scaled inefficiently to ride the hyper-growth wave, and they now find themselves in a position where they need to reset their whole approach to their recruitment and HR strategies,” advises Hunter.

“This reset involves unravelling inefficient processes and appropriately right-sizing investment,” she continues.

According to the State of the Training Industry Benchmark Report 2023, online

“Fintechs will need to focus on their employee proposition and commitments to social and environmental issues to attract these groups,” he says.

FUTURE FOCUS

Hartley thinks the focus will be on strategic initiatives and business improvement strategies.

“Location strategies, such as bestshoring and nearshoring – employing teams in different geographical locations – may be considered by companies to ensure they are getting the best price for quality services and expertise,” he adds.

Companies that transform talent strategies to access non-traditional talent pools using skills-based assessments and rapid upskilling will achieve competitive advantages. Firms that fail to take action will face debilitating talent scarcity and skills mismatches, warns Ramrachia.

You choose your path. 

“THE UK LEADS GLOBALLY, AND IF YOU LOOK AT THE US RECRUITMENT MARKET, ALL THE TOP FIRMS HAVE BRITISH MDS AND DIRECTORS, SO THE UK REALLY DOES SET THE BAR.”

Martin Hartley

Business Leader gives a rundown of recent appointments and promotions across various sectors.

UNMIND EXPANDS EXECUTIVE TEAM TO HIT £100M MILESTONE

Global workplace wellbeing solutions provider, Unmind, is gearing up for a major expansion, aiming to reach a £100m operation milestone. In the past year, the company has undergone a significant transformation, forging partnerships with major players, such as Yahoo, Ovo, and Calix. To steer Unmind through this next phase of growth, several key appointments have been announced.

Mike McGuire assumes the role of Chief Commercial Officer, leveraging his extensive experience from a decade at Salesforce and as GM at Iterable. Amber Coster takes on the position of Chief Operating Officer, drawing on her previous roles as Vice President at hyper-growth companies ClickUp and AppDynamics.

CREATIVE INDUSTRIES

RAPIDLY GROWING UK CREATIVE AGENCY NAMES NEW CEO

Media Zoo has named Giles Smith as its new CEO. This move comes as the company aims to build upon its recent successes and continue expanding both domestically and internationally. With more than two decades of business development experience, Giles held key positions, including Director of Solutions for Financial Services and Director of Enterprise Sales & Services at QA Ltd.

His journey at Media Zoo began as Global Solutions Director, and he subsequently became Managing Director before ascending to the CEO role. This transition follows the departure of former Joint CEOs Rachel Pendered and Mark Killick, who remain stakeholders in the company.

FINANCIAL SERVICES

Gavin Wade, who initially joined Unmind as VP of Product in 2021, now assumes the role of Chief Product Officer.

ANDARIA

APPOINTS SARAH OLIVA AS CHIEF OPERATING OFFICER

Andaria, the licensed e-money institute and digital payment provider, has welcomed Sarah Oliva as its COO. With a wealth of banking experience and strong leadership skills, Oliva’s appointment comes as Andaria embarks on its next phase of innovation and development. In her role as COO, Sarah Oliva will manage internal and external stakeholder relationships to facilitate rapid business growth.

Before joining Andaria, Sarah served as Head of Operations at AgriBank PLC, a Maltese credit institution. Prior to that, she spent over seven years at Merkanti Bank Ltd, holding roles such as Head of Operations and Treasury, Operations Manager, and Treasury Executive.

▾ Giles Smith – CEO, Media Zoo Image courtesy of Denise Winter Photography

Mike McGuire

Amber Coster Gavin Wade

IGF CONFIRMS CEO SWITCH

After seven fruitful years at the helm, John Onslow, CEO of Independent Growth Finance (IGF), has made the difficult decision to step down. This move follows John’s recent chemotherapy treatment for cancer, during which he recommended finding a replacement for the company’s benefit. In the meantime, IGF has introduced Steve Chait as the new CEO.

Steve brings over three decades of extensive experience in Asset Based Lending, having honed his skills at Burdale, Wells Fargo, and most recently, Blazehill Capital. Encouragingly, John’s treatment is progressing positively, and IGF anticipates his return later this year to continue contributing to the company’s growth.

BUSINESS MANAGEMENT

FINANCIAL SERVICES

GREG

DUNNE JOINS PARAGON BANK AS RELATIONSHIP DIRECTOR

NEW BRITISH BUSINESS BANK CPO NAMED

Paragon Bank’s Development Finance division has welcomed Greg Dunne as its new Relationship Director, leveraging his extensive two-decade-long experience in development finance. Greg’s previous role as Lending Director at Pluto Finance over six years has equipped him for this key position.

In his new role, Greg will report to Senior Relationship Director Nigel Jackson, overseeing the management of an expanding client portfolio. Paragon’s Development Finance division has seen impressive growth, with lending increasing by 24% to £623.2m in the last financial year, resulting in a loan book growth to £719.9m, up from £608.2m the previous year.

Karen Barnett has been appointed the new Chief People Officer of the British Business Bank. Her appointment brings her from WH Ireland, a firm specialising in private wealth management, financial planning, and capital markets services. While at WH Ireland, Karen served as the Human Resources Director and sat on the Executive Committee, where she successfully established a best-practice HR team. Her responsibilities included collaborating with the Board and CEO to craft and implement effective people strategies and policies.

Before her tenure at WH Ireland, Karen held the position of Head of

KEEP UP WITH THE LATEST BUSINESS APPOINTMENTS

Human Resources at Merian Global Investors, where she concentrated on improving organisational effectiveness, fostering a positive culture, talent acquisition, and supporting various business transformation initiatives. Karen started her career within a sizable team at the Department for Education.

▴ Steve Chait CEO, Independent Growth Finance (IGF)

TRUST, GUTS, AND A LITTLE BIT

Federico Charosky Founder, Quorum Cyber

“There was a collection of problems early on that we fell in love with but weren’t really being addressed. At that time, everybody was used to being sold a product instead of working with a partner to achieve specific outcomes. So, buyers were pretty much left to their own devices. Our approach is that it’s our job to use the tools to achieve your desired outcomes. We deliver the journey and help you to understand it

and not have to understand all its features. Our customers were getting tired trying to manage so much, but we take all the overheads away, they just need to tell us where they want to get to. There’s a costreduction that has benefitted our customers in the current economic climate, plus a simplification and elegance to using a single ecosystem that is well-tested and vetted. “Finally, the prevalence of threat has helped to drive urgency and attention. So, when you have companies needing to do more with less, the threat becoming increasingly real, and us telling a story about mutually invested outcomes, you’ve got a nice recipe. There’s a huge amount of being in the right place at the right time.”

AT THE HEART OF SCOTLAND’S TECH HUB Charosky hails from Argentina and says migrating has enabled him to remain outside the UK’s political and cultural dynamics, leaving him to focus on the business without judgement in these areas. Considering how divisive British politics can be, many would agree that’s a good thing. But why did Quorum Cyber’s Founder, who has also worked in the Middle East, choose Edinburgh as the place to set up his business?

It turns out the decision to choose Scotland was a strategic one. Having previously cofounded a start-up north of the border in 2010, Charosky had an excellent experience of utilising Scottish talent, so when starting Quorum Cyber, he wanted to do this again but on a much larger scale.

He explains: “We have strategic relationships with several major Scottish universities, which enables me to quickly scale up talent. We bring them into our Quorum Cyber Academy, where we infuse them with our values and tech expertise. The ability to scale that quickly and bring in talent of that calibre is unique. In that regard, I think Scotland fights at the best levels internationally, which is great.”

However, having access to skilled candidates is only one part of the puzzle, particularly during the war for talent that tech companies are currently experiencing. So, instead of diving headfirst into such a competitive environment, Quorum Cyber launched an academy and decided to build a rapidly growing workforce instead.

Charosky continues: “We were conscious that being able to scale the company at this rate of growth, while maintaining quality

and culture, would be limiting. So, instead of competing for talent in the market, we took the decision early on to build our own workforce and that became a key differentiator for us.

“For example, the staff you have might not be the right ones for the next stage of growth, so how do you take people with you on that journey, whilst ensuring you have the right skills at the right time? There’s buying cycles and global macroeconomics that impact customers’ decisions. You’re also going up against American firms that have raised hundreds of millions of dollars pitching to businesses.”

Charosky says the unexpectedness of the pandemic was another challenge, but equally, it provided them with an opportunity that the company’s leader is extremely grateful for.

“One of the main reasons people leave companies is because they don’t get the development they were promised. So, we wanted to create a place that enables talented people to take control of their career paths and grow through that academy, whilst understanding that they might leave. The plan isn’t to keep everybody forever, but for the time people are here, they should be constantly growing and have an opportunity to develop. If you can offer that, hopefully people will want to stay for two or three years longer because there’s always something to learn.”

NAVIGATING AN EVER-CHANGING PATH

Increasing staff numbers is an essential step for growing any company, so the fact Quorum Cyber has more than doubled its staff numbers over the last 18 months is testament to the incredible success of its academy. Whilst the cyber specialist has successfully managed talent acquisition, its rapid growth journey has been encumbered by other challenges. In Charosky’s opinion, the fact he is a first time CEO is one of them.

He continues: “There’s a lot of growing pains and a need to learn what the job requires at the different stages of growth. As a firm, our growth has meant we have shot through some gates really quickly, so you need to be very comfortable living in ambiguity. You’re going from one stage to the next without having fully grown into the previous one, so you’re constantly being pushed. Navigating that growth is the nature of why we’re here but you face challenges on that journey.

“We were very lucky,” says Charosky. “In a different six months, everything that happened might have meant a completely different story. We went into the pandemic, when everyone was furloughing people, with freshly raised capital, a well-stocked bank account, and the ability to hire rather than a need to fire people to cut costs. That was pure luck, but it provided an opportunity for us, and I’ve been fortunate to have a team around me I can lean on to figure out the best way of going through the challenges we’ve faced.”

FUTURE PLANS

For many business owners, growing their company is done with the view of eventually completing an exit. Charosky is enjoying the ride too much to consider one right now and wants to continue enjoying the ride for as long as possible. He concludes: “The plan is to continue growing as quickly as we can and internationalise the business. We launched in North America last year and that’s going great, but it’s the first region of many that we want to explore. We’re getting ready to potentially do some M&A activity, if we find the right vehicle to integrate more companies into the business. So, no plans for any form of exit anytime soon.

“I’m having too much fun, and this is super cool. When else is the only thing that I know how to do going be relevant in the world? I have no idea, so I’m going to try to surf this wave as much as I can and continue to tell relevant stories!” 

“THERE’S A LOT OF GROWING PAINS AND A NEED TO LEARN WHAT THE JOB REQUIRES AT THE DIFFERENT STAGES OF GROWTH. AS A FIRM, OUR GROWTH HAS MEANT WE HAVE SHOT THROUGH SOME GATES REALLY QUICKLY.”

SUSTAINING SUCCESS

Watermans' winning strategy that’s revolutionising the hair industry

In 2012, the entrepreneurial duo of Matt and Gail Waterman founded trailblazing enterprise, Watermans. Renowned for their innovative line of opulent hair growth solutions, encompassing shampoo, conditioner, scalp elixir, and vitamins, the brand has etched its name into the annals of the business world.

What began as a home-based operation has since evolved into a distinguished entity within the hair and beauty sector. Their global footprint spans continents, with product exports reaching destinations as diverse as Australia, UAE, South Korea, Taiwan, Slovenia, USA, Canada, and multiple European nations, showcasing

We spoke to Gail about the genesis of the business, the

YOU AND YOUR PARTNER, MATT, STRUGGLED WITH VARIATIONS OF HAIR LOSS. CAN YOU DISCUSS A LITTLE BIT ABOUT YOUR JOURNEY AND BUILDING YOUR SUCCESSFUL

I am a former hairdresser and salon owner, who has a background in the hair industry for over 32 years. Matt, a marketing expert, knew what high standard needed to be achieved when producing this product. As you mentioned, we suffered both for many years with different variations of hair loss problems and decided to launch the business in 2012.

We began the development journey by testing the products on ourselves and once we saw results, we brought the products into my salon customers. This allowed up to experiment on a range of different hair types, textures, and hair problems and to substantiate the efficacy of

The next stage was finding a manufacturer. This was extremely difficult because we had no background in manufacturing or weren’t celebrities. After a while we found one, and we have grown with them ever since. Today, we sell a product every 30 seconds across our network of distributors around the globe.

YOU DONATE PRODUCTS TO NHS CHEMO WARDS. WHAT ADVICE DO YOU HAVE FOR ENTREPRENEURS LOOKING TO INCREASE THEIR PARTNERSHIPS AND CHARITY WORK?

Seek out charities or causes that align with your company’s values and mission. Look for organisations that resonate with your business’s core principles, as this alignment will make the partnership more meaningful and authentic. Also be sure to consider supporting charities or initiatives in your local community. Building strong relationships with local organisations can have a direct and visible impact on the community, fostering goodwill, and positive word-of-mouth. Rather than just offering donations, explore ways to collaborate directly with charities. Partner on initiatives, events, or campaigns that can leverage both your business’s resources and the charity’s reach to create a more significant impact together.

Be transparent about your charitable contributions and their impact. Make sure you share updates on the progress of your partnerships to build trust and show your commitment to making a difference. Building successful partnerships with charities often requires long-term commitment. Instead of one-off efforts, consider sustainable, ongoing collaborations that can have a lasting effect and a positive change.

Genuine philanthropy goes beyond just public relations or marketing. It’s about creating meaningful connections and making a positive impact on society. By being authentic and committed, entrepreneurs can forge valuable partnerships that benefit both their businesses and the communities they serve.

WHAT IS IT LIKE GROWING SUCH A LARGESCALE BUSINESS OUT OF SHEFFIELD? WAS THERE EVER TALK ABOUT MOVING DOWN SOUTH TO LONDON?

Growing a large-scale business out of Sheffield, or any location outside of major business hubs like London, can present unique challenges and opportunities.

Whilst London is often considered the country’s primary business hub, other regions like Sheffield offer distinct advantages, such as lower operating costs, a skilled local workforce providing jobs for the surrounding communities.

Some businesses may consider moving to London for increased access to a larger customer base, networking opportunities, and a more prominent presence in the national and international business scene. However, staying outside major cities can also allow companies to differentiate themselves and capitalise on local market opportunities.

Online businesses have the advantage of being locationindependent, which means they can operate from anywhere with an internet connection. This flexibility allows entrepreneurs and businesses to reach a global audience without the need for a physical brick-and-mortar presence in a specific location.

However, even though online businesses have this advantage, they still need to consider factors like international regulations, shipping

logistics, and customer support to ensure successful operations, and a positive customer experience. Nonetheless, the internet has revolutionised how businesses operate, enabling a new era of location-independent entrepreneurship and commerce.

WHAT SETS WATERMANS APART FROM ITS COMPETITORS?

Watermans being run by 99% women and 50% owned by a woman of colour may provide a unique and diverse perspective in the industry, differentiating them from competitors. Quality products, a unique brand story, sustainable practices, and winning a Queen’s Award for International Trade creates a brand that people can trust.

HOW IMPORTANT IS DIVERSE REPRESENTATION TO YOU IN BUSINESS, AND HOW CAN BUSINESSES DO BETTER TO INCREASE DIVERSITY?

Diverse representation in business is crucial and important to us, as it brings various perspectives, experiences, and ideas to the table, fostering innovation and creativity. It helps businesses better understand their diverse customer base and cater to their needs effectively. Additionally, diverse teams are more likely to make well-rounded decisions and create a positive work environment.

Implement fair and unbiased recruitment processes, ensuring that the candidate pool is diverse. It can encourage and promote individuals from underrepresented groups to leadership positions and set examples for others, develop policies that support work-life balance and accommodate diverse needs. Establish employee resource groups to foster inclusivity and provide a platform for underrepresented employees.

Encourage working with diverse suppliers and partners to promote economic empowerment, set diversity goals and regularly track progress to ensure accountability. Finally, promote a culture where all employees feel valued, respected, and heard. By taking these steps, businesses can create an inclusive environment that values and celebrates diversity, benefiting both the company and its employees. This fosters a sense of belonging that makes everyone feel like they are part of the team. 

Gail & Matt Waterman Co-Founders, Watermans

21ST CENTURY BUSINESS ICONS: THE LEADERS

WHO ARE

CHANGING OUR WORLD

BY: SALLY PERCY

Seasoned business journalist Sally Percy unveils the remarkable accomplishments of pioneering business leaders worldwide. Her book takes readers on a global journey, from California to Tokyo, showcasing luminaries from diverse sectors like technology, banking, and social media. This is an all-encompassing perspective on international success stories, shedding light on the achievements of these remarkable individuals who have left an indelible mark on the modern business landscape.

“A gem of a book, written with the sparkle and insight that characterises Sally

Percy’s renowned coverage of leadership and business. A great learning lesson in leadership.” – Matt Symonds, Editor-in-Chief of BlueSky Thinking

PRACTICAL GUIDE TO CREATING A HYPERAUTOMATED ECOSYSTEM OF INTELLIGENT DIGITAL WORKERS

BY: ROBB WILSON AND JOSH TYSON

Robb Wilson, CEO, and Founder of OneReach.ai, leverages his two decades of expertise in user-centric design to unlock the potential of hyperautomation. Teaming up with Josh Tyson, Director of Creative Content for OneReach.ai, they share their insights in this book and delve into the ethical implications of widespread conversational AI adoption, explore the concept of self-driving organisations, and reveal effective strategies for establishing a hyperautomation ecosystem adaptable to any

DISASTER IN THE BOARDROOM: SIX DYSFUNCTIONS EVERYONE SHOULD UNDERSTAND

BY: GERRY BROWN AND RANDALL S. PETERSON

The book underscores the pivotal role of independent directors in ensuring a robust and balanced board. Through insightful analysis, it illustrates how genuinely independent directors act as safeguards against the undue influence of narrow agendas and the risks associated with uniformity. The book serves as a poignant reminder of the adverse consequences that arise when this essential aspect, often referred to as “NEDglect,” is overlooked.

BY: TOM WILLIAMS

Tom Williams, Principal at Innovation

Consult and a seasoned business growth coach, shares his wealth of entrepreneurial experience in his latest book. With a background that includes founding and cofounding five businesses and orchestrating successful exits, Williams offers a five-part formula to help businesses shatter growth limitations. This comprehensive guide imparts valuable insights and serves as an indispensable resource for entrepreneurs looking to navigate the intricacies of business growth and achieve sustained success.

“If you only read one book on scaling your business, make it this one. It’s full of insights and practical steps from an

STARTUP, SCALEUP OR SCREWUP: WHY BUSINESSES FAIL TO SCALE AND HOW TO FIX IT

AGE OF INVISIBLE MACHINES: A

“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

THE CONFERENCE FOR ENTREPRENEURS

Edgbaston Stadium, Birmingham

March 2024

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.

We offer multiple sponsorship packages with opportunities for any budget. Speak to a member of a Business Development team to find out more. sales@businessleader.co.uk 020 3096 0020

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