IoD West Midlands by Rob Beswick

West Midlands www.iod.com

January 2019

Excellence guaranteed

Dr Andy Palmer of Aston Martin lands prestigious IoD award

EVENTS | DIRECTOR DEVELOPMENT | ADVICE AND INFORMATION | NEWS

HI THERE, IT’S NICE MEETING YOU.

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Stay positive and keep a sense of perspective Brian Hall Chair, IoD West Midlands

Happy New Year. I hope you had an enjoyable and restful Christmas break, and are ready to face whatever 2019 has to throw at us! Given the political events at the end of 2018, and with the March 29 date looming large in our diaries for the UK’s exit from the European Union, the chances are that the events ready to be hurled at us will be both momentous – and plentiful! Speaking to other business leaders around the region I know there are many with concerns over what this year has in store for us, but I have decided to adopt a positive, philosophical approach and not become too weighed down with doubts and concerns. What is true is that the political situation has to settle down – and quickly. The responsibility to find a way forward now rests directly with 650 MPs in Parliament. Nobody wants to prolong the uncertainty, but everyone must remember that businesses and communities need time to adapt to future changes. Immediately after the referendum in 2016 I was at the IoD in London for a meeting with senior Japanese business figures, and one questioned me about Brexit. “What will happen,” he asked. “What are you going to do.” I explained that it was like the weather: “I’ve got no control over it. I can’t stop it. But I still have to go out in it, so I just need to prepare for whatever it is.” He got my point: “We get some eventful weather in Japan, too!” That’s where I think we are: ready to respond, just not knowing which way to go. Personally, I believe that the Government must honour the referendum decision, The one thing I really fear is civic upheaval to accompany the current political one. A constitutional crisis that unilaterally overturns the referendum is likely to provoke an angry response from some sections of the community

and that must be avoided at all costs. We all saw the scenes on the streets of Paris before Christmas, as public anger over President Macron’s proposed reforms ended in violence. That is a bigger threat to business continuity than any Brexit deal. But let’s remain optimistic; we will cope, we will find a route through. On that theme, I often find myself contemplating the way Britain is portrayed in the media. I spend much of my time talking to business leaders and they tell me about their growth plans, the new markets they are targeting and other things: pay rises for employees, training programmes for school leavers and apprentices. They talk about CSR, and how their staff go in to local schools and other organisations to support public sector

“Nobody wants to prolong the uncertainty, but everyone must remember that businesses and communities need time to adapt to future changes...” workers. They are keen to be at the heart of their communities, and play an active role in their prosperity. That’s the Britain I recognise, one full of responsible and civic-minded people, keen to improve their local communities. And then I come home and watch the news! Where Britain is often portrayed as chaotic, uncaring and collapsing. Yet it’s nothing of the sort when you get out in the real world. Perhaps the media could work harder at finding good news? As for the IoD, there have been a number of good news stories to report, both regionally and nationally. Nationally, the push is for the IoD to have a greater focus on delivering value to its members, across all regions. This new emphasis comes as the regions are becoming more and more powerful, as the Midlands Engine and Northern Powerhousestyle devolution and City deals begin to deliver results.

Continued on page 4

IoD West Midlands Patrons

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CONTACTS IoD West Midlands: iHub, Colmore Gate, 2-6 Colmore Row, Birmingham B3 2QD T: 0121 643 1868

Chair: Brian Hall e: chair.westmidlands@iod.net t: 0121 728 8360 Regional Director/Editor: Calum Nisbet e: Calum.Nisbet@iod.com t: 0121 643 7801 Office administration: Jordan Lowe e: Jordan.lowe@iod.com t: 0121 643 1868 The Institute of Directors West Midlands membership magazine is published on behalf of the IoD by: Chamber Media Services, 4 Hilton Road, Bramhall, Stockport, Cheshire SK7 3AG. Advertising sales: Colin Regan t: 01942 537959 / 07871 444922 e: colinregan001@yahoo.co.uk Production enquiries: Rob Beswick, t: 0161 426 7957 e: rob@chambermedia services.co.uk Please note... Although every effort is made to ensure the accuracy of material contained within this magazine, neither the IoD nor Chamber Media Services can accept any responsibility for omissions or inaccuracies in its editorial or advertising content. The views expressed in this publication are not necessarily those of the IoD. The carriage of adverts in this publication does not constitute an endorsement of the products or services advertised. All articles within this publication are copyright IoD West Midlands. Editorial consent must be obtained before any are reproduced either in printed form or electronically. Cover picture: Dr Andy Palmer, CEO of Aston Martin, receives the Dr Neville Bain Memorial Award for Excellence in Director and Board Practice at the IoD Director of the Year Awards. He is pictured with IoD Director-General Stephen Martin, event compere Claudia Winkelman and IoD West Midlands regional director Calum Nisbet

News

Top gear! Aston Martin’s Dr Andy Palmer roars off with IoD award One of the West Midlands most high-profile business leaders was rewarded for his outstanding business career at the 2018 IoD National Director of the Year awards, when Dr Andy Palmer CMG, President and Group Chief Executive of Aston Martin Lagonda (AML), was presented with the Dr Neville Bain Memorial Award for Excellence in Director and Board Practice. This award is the highest accolade in the IoD’s Awards and recognises the personal imprint of the UK’s most high-profile leaders on the culture and success of their organisation through outstanding professionalism and the implementation of best practice in governance and leadership. Dr Palmer was presented with the award in recognition of the successful implementation of a new governance structure at the luxury car maker, which he established on joining the business in 2014. The new structure was put in place to oversee operational performance of the business and ensure effective governance of costs and profitability, and forms an integral part of the brand’s ‘Second Century’ plan, which involves a new product offensive, expansion of the company’s manufacturing footprint and the delivery of sustainable growth. Dr Palmer said: “2018 has been a truly historic year for Aston Martin Lagonda, as we became the only truly British car maker listed on the LSE. That makes us a standardbearer for the UK auto industry. “Good governance and embedding an ethical approach to business is an incredibly important part of the Second Century Plan, with the vision ‘to be the great British car company that creates the most beautiful automotive art in the world’. “This award further demonstrates the success of our transformation plan.”

Dr Andy Palmer receives his award from Krissy Knights and Sue Smith, Sir Neville Bain’s daughters, and event compere Claudia Winkelman “All of our achievements are a testament to the extraordinary skill, professionalism and dedication of our workforce, who continue to demonstrate pride and trust in the Aston Martin brand which spreads out to our customers, our racing teams, our dealers and our loyal fans, and I dedicate this award to them.” • If you would like to enter or nominate someone for the Regional Awards in 2019, please see page 14 • IoD visit to Aston Martin - see pg 11

“Good governance and embedding an ethical approach to business is an incredibly important part of the company’s ‘Second Century Plan’ ” Dr Andy Palmer

Stay positive and keep a sense of perspective Continued from page 3 More locally, it has been heartening to attend a number of great events, but particularly the recent dinner at Warwick Castle and the last of the 2018 Productivity Breakfasts, at Aston Martin, which gave attendees some fascinating insights into how that organisation operates. We hope to continue the Productivity Breakfasts in 2019, alongside new initiatives. We are pushing hard on the

Inclusivity agenda, with my deputy, Jackie Hendley, leading, and there will be a number of events to support that. See page 12 for more details on this. In addition we are introducing a new series of ‘Chair’s Best Practice Visits’ to leading West Midlands businesses. The first will see us go behind the scenes at ADI, a major electrical and mechanical engineer. It will be a business ‘Show and Tell’, with us learning some of their

“secrets for success” where they excel. Finally, it was marvellous to see Dr Andy Palmer, president and CEO, Aston Martin Lagonda, named as the winner of the Dr Neville Bain Memorial Award for Excellence in Director and Board Practice at the IoD Director of the Year Awards. It was a fitting accolade for a man who has worked hard to transform the business into an outstanding global player (more details of this story above).

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Wesleyan proud to sign up to IoD’s patrons programme IoD West Midlands is delighted to welcome Wesleyan, the specialist financial services mutual, as its latest Patron. Established in Birmingham in 1841, Wesleyan provides financial products and services for medical and dental professionals, teachers and lawyers. The company established the Wesleyan Foundation in 2017 to support projects that are important to its customers and the communities in which they live and work. A year later, the foundation had awarded a total of more than £1million to good causes

in the form of more than 200 separate grants to charities, community groups and social enterprises across the UK. Strong advocates of corporate governance and diversity, Wesleyan has had a long relationship with the IoD, and a number of its senior management team have successfully completed the Chartered

Neil catches Grant Thornton’s eye as the ultimate ‘turnaround’ king IoD West Midlands member and Director of the Year finalist Neil Male, CEO, GMS Group, has continued collecting accolades from the business community after he was named one of 2018’s 100 Faces of a Vibrant Economy by Grant Thornton. Neil said he was delighted to be acknowledged, and many would say it is a just reward for his ‘never say die’ attitude and positivity that have been the hallmark of his career. “Never take anything for granted because things can be taken away from you in an instant,” says Neil, who learned this lesson the hard way after a promising football career was cut short by injury. Turning setback into success, Neil joined family business security services group GMS in 2000 as an employee. Neil implemented new systems, processes, software and people, which resulted in

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turnover increasing from £200,000 to £2.5 million in just five years. Today, after three management buyouts Neil has grown GMS to a £14 million turnover business which employs 500 staff. Neil has also transformed the traditional manned guarding company to a technology-driven security partner and continues to drive the business to develop a range of cutting-edge technologybased solutions and stay ahead of the curve in a saturated security market. Neil’s own experiences underline his empathetic approach to employees, giving people opportunities they may not get elsewhere. He advocates a career in security to all staff, from developing apprentices in head office to supporting the aspirations of frontline security guards to progress within the industry. This is reflected in reciprocal loyalty from staff – GMS has a 93% retention rate, compared to an industry average of 63%.

Director programme. Group Chief Executive Dr Craig Errington, CDir, won the IoD’s National Director of the Year award in 2011. He said: “Strengthening our relationship with the IoD is important to the senior team at Wesleyan, given the great work they do in supporting business leaders. “We are delighted to have become Patrons and look forward to working with the team in what will be another interesting year.”

IoD hits the road with three hot topics During 2019, IoD West Midlands will play host to three National Roadshows developed to support Business Leaders in three critical topics: Global Business, Connected Business and Inclusive Business. The workshops will be delivered by industry experts and recognised leaders, based around engaging case studies and practical exercises to maximise learning outcomes and facilitate peer networking. All three will be held at the National Conference Centre, located in the heart of the Midlands transport network, Junction 6 M42 (near Birmingham Airport). The roadshows are: • How to be Leaders in Global Business – Monday, 13th May • How to be Leaders in Connected Business – Tuesday 10th July • How to be Leaders in Inclusive Business – Wednesday 18th September The events will be half -day sessions followed by a networking roundtable lunch. The cost is £45 for IoD Members and £75 for Non-Members. Each roadshow will be partnered with a policy report, launched at the beginning of the campaign and amended throughout the year as necessary. Copies of the report will be available at each roadshow. The first workshop will focus on Global Business, covering topics that present the biggest challenges facing SMEs in the global market such as trade and expansion into new markets. For more detail, or to register your interest in attending, please email calum.nisbet@iod.com

IoD Policy Voice

Join us in getting the IoD members’ voice across to government The UK’s prosperity depends on enterprise and it is imperative that the views of directors are heard. Through our Policy Team, the IoD exerts its influence in all matters of economic and public policy: n By taking a position in the media (both nationally and locally) n Through direct discussion with ministers and civil servants n Through written responses to consultation documents and production of research and policy papers. Members of our Policy team, such as Edwin Morgan, Allie Renison and Tej Parikh, appear regularly on TV and radio and are highly valued contributors to the press and, over the year, the IoD has gained thousands of media hits, including 700 mentions in national papers. The IoD was influential in a number of key areas throughout 2018, including the debate on Brexit, trade, corporate governance, skills, the Budget and infrastructure spending. A few examples are listed below: Brexit In March, the UK and EU agreed to a transition period (in the event of a deal). This was a major win for the IoD, which was the first leading business group to call for this, backed by member survey data. Trade The Government’s new (and first) Export Strategy was launched at our very own Pall Mall. The strategy included a raft of IoD recommendations, including plans to test schemes such as export vouchers to encourage trading. Corporate Governance The IoD was a key contributor to the new Corporate Governance Code, which includes a greater emphasis on taking into account wider stakeholders. The IoD also played a leading role in the creation of the Wates Principles for the largest unlisted companies. Skills Ahead of the Budget, the Chancellor announced reform to the Apprenticeship Levy, following over a year’s worth of campaigning by the IoD and its members. The system is to be made more flexible, with a lower funding requirement for small firms and more funding given to the Institute of Apprenticeships to create

You don’t have to shout... Join the debate at www.iod.com/news/ influence-government

better courses. The IoD continues to meet regularly with officials in the Department for Education, feeding in members’ experiences of the levy, and seeking a broader use of the system to encompass a wider range of skills training. On migration, while we continue to await the Government’s White Paper, a significant breakthrough was achieved in June as medical staff were removed from the Tier 2 visa threshold, allowing more room for firms to attract skilled workers from abroad. The Budget Greater business rates relief for small firms was a specific target in our Budget submission – based on member survey data – which came to fruition in this year’s Budget. The Budget also saw an increase in Annual Investment Allowance, a long-term goal of the IoD. Infrastructure Progress was made on the new Heathrow runway – the airport most used by IoD members for business travel – in June as Cabinet agreed to press on with the project. In its Future Telecoms Infrastructure

Review, the Government committed to rolling out fibre broadband in the majority of the country by 2030; however the IoD pushed for a more ambitious target of 2025. With around 30,000 members across the UK, the IoD is perfectly placed to represent the views of our Business Leaders. To make sure YOUR voice is heard, please ensure you are registered for Policy Voice – a monthly survey that seeks opinions on the issues that matter to business leaders, including Brexit, regulation, skills and the economy. The data collected is developed into IoD policy reports, imbedded into every government consultation we respond to and shared in conversations with policy makers and the media. Policy Voice participants, which now top 3,000 members, are thanked with regular invitations to exclusive events, opportunities to win complimentary places at IoD workshops and consistent feedback on how their insights have been used. Join the debate at www.iod.com/ news/influence-government

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Mastermind groups deliver real benefits One of IoD West Midlands’ major events success stories over the past three years has been the establishment and growth of its Mastermind groups. Have you considered joining one? They are an unparalleled way of tapping into the knowledge and experiences of your fellow directors and business leaders, in a confidential and non-judgemental discussion group that delivers real insights and answers to major business problems. Here we look at the Shropshire Mastermind group: The Shropshire IoD Mastermind Group meets monthly at Haughton Hall, Shifnal, over dinner in a friendly atmosphere. It starts with the facilitator looking to identify five issues around the table, which are at the forefront of the group’s thoughts currently. To arrive at Haughton Hall, Shifnal these items each person is asked for their input and a consensus is reached by the group of what are the items for discussion. Over the rest of the evening the items are then discussed with views suggested of how to move forward. The evening starts at 6pm and is finished by 9pm. The expertise and knowledge around this table has, in many instances, helped businesses move forward successfully. This group covers all of Shropshire, parts of the West Midlands and Staffordshire. Some thoughts from members who attend. One participant said: “The Shropshire IoD Mastermind group has been a great initiative. You can share your business experiences and expertise for the benefit of others, at the same time gain plenty of useful insights, to help and support your business in other areas where you might feel inexperienced. It helps you move forward with confidence, often in new and better directions.” Another offered this: “The Shropshire IoD group is a way of tapping into a wealth of business experience, in a friendly and open environment. There are businesses both large and small from a range of different sectors and everyone is encouraged to participate through asking any kind of question and providing insights from their own experience.” The group stressed that this was not some selected group: “We are not academics. We are a group of proven and supportive business people who come together to mutually help solve each other’s business issues. There are entrepreneurs looking to start or grow their business, together with company directors and executives seeking clarity. We also have people looking for insight across all aspects of the business who will pass on expertise and knowledge willingly. Contacts are usually willingly shared and solutions tightly targeted.” Finally: “Our IoD Mastermind group is very welcoming and feels very well supported, helping drive the next phase of my business from a ‘kitchen table hobby’ to a professional business. It’s an inspirational evening and you leave with some great new ideas.” The groups are for all age groups, of all size of business: “Before I became an IoD 99 member, I was concerned that my business was too small. I’m really glad I didn’t let that put me off! The group are warm, welcoming and generous with their advice. There’s such a vast array of expertise and experience in the room. Is there anything this group can’t help with?” The Group is facilitated by Geoff Williams. Should you require more information on any of our Mastermind groups, see page 20 or call the office on 0121 643 1868.

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Reviewing your cash savings options Allan Perry, Ascot Lloyd Chartered Financial Adviser, takes a look at the wisdom of ISAs. When investing your ISA allowance this year, remember to review your existing ISA assets – particularly Cash ISA balances. With CPI inflation now at 2.4%, it is increasingly likely that your cash savings are falling in spending power. This is where the interest paid, albeit tax-free within ISAs, is lower than the effect of rising prices. Over time, this will reduce the ‘real’ (after-inflation) value of those funds. In conjunction with an Ascot Lloyd Financial Adviser, you can develop a financial plan which includes a suitable cash reserve to cover significant planned expenses and unforeseen spending needs. This can avoid you breaking in to your investments, which are ideally left to accumulate over time. Cash ISAs have long been a good shelter for your emergency fund; a savings account where you don’t pay tax on the interest. When the Personal Savings Allowance was introduced in April 2016, the use of Cash ISAs to hold tax-free savings lessened in importance. To a considerable degree, a normal deposit account now does the same job. If a higher rate tax payer holds £20,000 in a deposit account paying 2% interest per year, the gross payment of £400 is within the £500 allowance and therefore tax-free. The Personal Savings Allowance is even more attractive for basic rate tax payers, at £1,000. Holding your emergency fund in deposit accounts frees up Cash ISA balances to be invested to try and achieve a higher tax-free return. You may transfer your Cash ISA balance into your investment ISA, maintaining its tax-free status. Investments that are held within ISAs grow free of Capital Gains and Dividend taxes. You may also add up to £20,000 to your ISA during the 2018/19 tax year. Whilst it is essential not to overcommit your cash savings into investments, it is important to ensure they work as hard as possible for you. Investments involve some risk, and carry higher annual charges, but investing your money will give it the potential to grow ahead of inflation. Investment returns allow your savings to build, creating wealth over time. At Ascot Lloyd, we believe in managing volatility by diversifying the assets in which you invest. This helps instil a disciplined long-term approach and increase the compound return. An Ascot Lloyd adviser will tailor a portfolio to achieve your personal goals, accounting for your personal risk tolerance, risk capacity and the level of investment return you require. You may achieve your financial goals just that bit quicker by making sure all your assets are held within the most appropriate and tax-efficient types of account. April 5, 2019 still seems a long way away, but there’s no need to wait until the end of the tax year to review your Cash ISA balances with a financial adviser. Don’t forget: there is a £20,000 ISA Allowance for 2018/19.

Want to know more?

Speak to an Ascot Lloyd adviser on 0121 212 5700 for more information, see www.ascotlloyd.co.uk or contact us at 45 Church Street, Birmingham, B3 2RT.

News / Events

Women as Leaders

Group hears a female take on life in famous lock-up Business leaders in Birmingham went behind bars to learn about the history of female policing during a talk at the city’s Steelhouse Lane Lock-Up. The visit to the former prisoners’ cells in Birmingham city centre formed part of a series of events organised by the Women as Leaders group. The event featured a talk about the history of women in policing as well as the chance to visit the cells and see artefacts from the past, including historic helmets, radios and other force equipment. Run by the Forces Heritage Project, the Lock-Up holds events, talks and open days all aiming to raise money to turn the centre into a state-of-the-art police history museum. Dating from the 1890s, the Lock-Up has housed notorious criminals over the centuries including members of the infamous Peaky Blinders. The group was hosted by two members of the project, Corinne Brazier and Steve Rice, and volunteer and former police officer, Phil Tucker. Their talk covered the history of women in Birmingham policing from the 1830s through to the modern day. Corinne told the group how women were first able to serve as

‘lock-up matrons’ based at the cells from 1895 and that it was only in 1917 that women were allowed to serve as officers. She and Steve shared stories of some of those pioneering women whose experiences feature in their book, A Fair Cop. These included Evelyn Miles, one of Birmingham’s first female police officers who went on to become the oldest police woman, working until she was 77. They also looked at the variety of roles which women now hold in modern policing, including specialist roles as dog handlers and divers. “We wanted to tell their stories because no one else was telling them,” said Corinne. “Our book and our talks celebrate 100 years of female policing across the region. These women have incredible stories – many of which we are still discovering.” IoD Women as Leaders Vice-Chair Jackie Casey said the visit had been inspirational. “It was interesting and insightful to hear how these women were really pushing through boundaries. Our group is for members who want to progress by sharing

their experiences and knowledge and, if they have also had to overcome difficulties, how they did so. It’s about enabling women to be the best they can. The message from these police women through history is therefore really inspirational.” The talk was followed by refreshments and the chance for group members to meet each other or catch up. “The Women as Leaders events also aim to enable people to network and build relationships,” added Jackie. “There are women who have met at these events and gone on to make business together. Networking with other members at the group creates relationships and opportunities.” More on IoD Woman as Leaders at www.iod.com and for more on the Lock-Up, see www.wmpeelers.com

Royal seal of approval at leading China Expo Congratulations to Birmingham-based Devoch, which had the privilege of being one of eight companies exhibiting on behalf of the UKTI’s ‘Innovation is Great’ campaign at the 4th Internet Plus Expo in Foshan, China. The British contingent were supported by HRH Prince Michael of Kent, who led the delegation to China. The event, themed ‘Digital Life, Business & Production’, was held in the Tanzhou Convention and Exhibition Center in Guangdong and was attended by corporate giants such as Baidu, JD.com, SF Express and many other iconic global brands. Devoch and the other delegates had the opportunity to interact with Chinese businesses in addition to leading presentations on their key areas of expertise. With 77 Nobel prizes in science and technology alone, Britain has always had a great reputation for innovation and the exhibitors were all carefully selected. Even the royal link was a shrewd choice: Prince Michael provides consultancy in many sectors including construction, telecommunications, insurance, finance

Above, Prince Michael arrives to greet a Chinese delegation at the expo

and tourism as well as the medical, aviation and automotive industries. As Founder Patron of the Genesis Initiative, he is also heavily involved in the promotion of small businesses for the SME sector, with special reference to export. Prince Michael said: “I came to China about 20 years ago with a delegation of British firms seeking new business cooperation. That visit taught me the importance of committing to long-term relationships with both the Chinese government and companies, to create successful partnerships of real long-term commercial value.

“Twenty years after that first visit, I am here now to support a new wave of British innovators in the fast-moving technology sector, who have created much of the technology we take for granted today.” Devoch founders Don Lee (25) and Jonathan Sarabadu (29) were delighted to have been involved: “The future of the UK-China relationship can only be called the ‘Golden Era’ if we work towards it together. “It was great to be there showcasing our willingness and enthusiasm to bridge both countries. British brands need to go there and embrace the market and we were very lucky to be there. Receiving a personal visit from HRH Prince Michael to our stand was a great honour” Devoch is a company which supports British brands, businesses and institutions enter and grow in the Chinese Market. For more information, see www.devoch.co.uk or www.internetplus-expo.com

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It pays to plan ahead when making tax digital Tom Edwards of Smith & Williamson outlines the details of the government’s Making Tax Digital initiative and offers help and advice for businesses.

What is Making Tax Digital for VAT and who is affected? Making Tax Digital (MTD) is HM Revenue & Customs’ (HMRC’s) strategy to modernise the tax system. As well as improving HMRC’s own internal systems, MTD involves mandatory digital record keeping and reporting by taxpayers. MTD is required for any compulsory VAT-registered entity, starting with the return for the first period commencing after 1 April 2019. If the entity is voluntarily registered for VAT they can opt in to MTD or continue to submit VAT returns as they are. In October 2018, HMRC released a statement confirming that 3.5% of entities required to meet the MTD requirements have now been given a six-month extension. This six-month deferral, until 1 October 2019, applies to VAT-registered entities who fall into categories that include VAT groups. What does MTD mean for those preparing VAT returns? There will be two key requirements for relevant VAT registered businesses: n To maintain digital records to provide a complete digital audit trail to support VAT returns; and n To use MTD-compatible software to report VAT data on a VAT return period basis and receive information from HMRC, using an HMRC Application Programming Interface (API).

If your accounting software will be MTD-compliant, hopefully this transition will be a straightforward process, however if Excel creeps into any part of your VAT calculation/ submission work then you may need to make some changes sooner rather than later. My key message is to plan ahead!

Working with you – can we help? We can carry out a review of your accounting systems and VAT return processes to identify any gaps between your current VAT compliance process and where it needs to be for MTD. We can work with you to implement changes to ensure your business is ready to submit its returns under MTD by April 2019 (or October 2019). Smith & Williamson has been advising entities of all sizes (from small companies through to large corporate groups) about the MTD changes since early 2018 when the draft legislation was released. Tom and his team understand that every business is different. Using their knowledge and experience working with clients, they have been advising and implementing appropriate solutions that work now and are as future proof as possible.

For more information please contact Tom Edwards on tom.edwards@smithandwilliamson.com or 0121 710 5203

Making Tax Digital seminar The first mandatory implementation of Making Tax Digital (MTD) is for VAT and the new rules will apply from April 2019.

We will also discuss opportunities this transition presents with your accounting systems and finance processes.

Smith Williamson is hosting a joint MTD seminar with Tax Systems to provide an overview of MTD for VAT and practical guidance on preparing for April 2019.

We will be joined by Tax Systems who will demonstrate their AlphaVAT suite of MTD software. Tax Systems is a leading software specialist in tax technology in the UK & Ireland.

Seminar details

Date: Wednesday, 6 February 2019 Venue: Smith & Williamson, 9 Colmore Row, Birmingham, B30 3QY Timings: 08:00: Registration and breakfast 08:30: Making Tax Digital for VAT 09:30-onwards: Meet the experts, networking and refreshments

To register, please contact Abi Reed on birminghamevents@smithandwilliamson.com, 0121 710 5360 © Smith & Williamson Holdings Limited 2019. Smith & Williamson is an independently owned fi nancial and professional services group. The fi rm is a leading provider of investment management, fi nancial advisory and accountancy services to private clients, professional practices, entrepreneurs and mid-to-large corporates. Regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. A member of Nexia International.

News

DriveThru first for Stafford in Beacon Development Zone

Congratulations... to Matthew Behan, CEO at Barhale based in Walsall, on being elected as Chartered Director. We asked Matthew what inspired him to become a CDir… “I was interested in the Chartered Director programme due to the wide-ranging and relevant content and learning how it would improve my knowledge and compliment my experience across a number of industries. “While working through the certificate and diploma modules I met some really first-class lecturers and other course delegates, who have gone on to become valuable senior business contacts and friends. “In a nutshell the CDir programme challenges participants to create and sustain better businesses and realise more ambitious working environments. “I would wholeheartedly recommend it.”

Drivers can take a break from their morning commute now that the first Costa Coffee DriveThru in Stafford has opened for business. Work on the 0.5-acre site in the heart of the Beacon Development Zone started back in January 2018 and was completed in June. The exterior and interior has a sleek and modern finish which compliments the other buildings on the business park. There is enough seating for 96 customers, including 24 outside seating spaces, and plenty of parking availability. The DriveThru further enhances the facilities on the 50-acre development zone and is a welcome addition for employees on the business park, staff at the nearby university, police HQ and the hospital, as well as surrounding businesses and local residents.

Dames step in to key finance roles Former Virgin Money boss Dame JayneAnne Gadhia and Banking Standards Board chairwoman Dame Colette Bowe have been appointed incoming members of the Bank of England’s Financial Policy Committee. Dame Colette and Dame Jayne-Anne will replace incumbent external FPC members Richard Sharp and Martin Taylor, who are stepping down at the end of the first quarter and second quarter respectively. Dame Jayne-Anne will take up her role in time for the FPC’s second quarter round of meetings, with Dame Colette taking up her post in time for the third quarter round of meetings.

A number of new jobs have also been created, bringing economic benefits. The new DriveThru is located on the Blackheath Lane Roundabout on the busy A519 Stafford to Uttoxeter road and is in an ideal location for passing traffic. The Beacon Development Zone comprises 50 acres of greenfield development land with only a few options remaining: Plot R3A (0.77 acres, prime road frontage development site) Plot 11 (60,234 sq. ft, prime industrial development site). For more information about commercial property for sale in Staffordshire, contact ISE Estates on 01785 256098 or email info@espleys.co.uk.

• For more details on the IoD’s CDir programme, and for future course dates, contact the regional office on 0121 643 1868

Top role for Paul

Congratulations to IoD Member Paul Kalinauckas, chief executive of West Midlands-based BCRS Business Loans, who has been appointed Chair of the Board of the trade association for his sector, Responsible Finance.

IoD backing Black Country Festival IoD West Midlands is delighted to be supporting The Black Country Business Festival later this year. The festival showcases the colourful range of businesses that proudly make up the Black Country, combining existing, traditional industries with new and emerging key areas for growth within a packed programme. Running from 13th – 24th May, the festival is made up of hundreds of events spread across the region, all put on by local businesses, and range from a seminar or workshop through to a trade show or major

conference. To find out more about the events on offer, which are largely free to attend, or how to host your own event, visit www.blackcountrybusinessfestival.com

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It’s not just the end-product that’s impressive with Aston Martin, says Calum Nisbet. The entire production process has the ‘wow’ factor, too, as the IoD found on a behind-the-scenes visit... As you enter the global headquarters of Aston Martin Lagonda in Gaydon, you can’t help but be impressed. The welcoming atrium has a calm serenity that exudes the quality of the company’s deep heritage, with examples of vehicles from the past, present and future drawing you in. It’s clear that this is an organisation proud of its 105-year history, but one that has a clear defined strategy for the future. Known for building ‘Beautiful, Hand Crafted, British Cars’, its new vision is to be recognised as: ‘The GREAT British car company that creates the most beautiful and accomplished automotive art in the world.’ We were privileged to hear Dr Andy Palmer, CEO and President of Aston Martin, talk about his business, with a focus on his team, the customers and the cars themselves. You soon realise that this is a chief executive who is incredibly passionate about the organisation and has taken the concept of the ‘hands-on’ management approach to a new level. He is credited with overseeing the turnaround of the iconic brand, from a loss of £163m in 2016 to a pre-tax profit of £87m a year later and a subsequent flotation in 2018, making it the only independent and British-owned car company on the FTSE. But he also knows his product, market and customer base inside out and will not compromise on quality. A trained engineer himself, he personally signed off the first 1,000 DB11s that came off the production line before being released to customers. His experience in Japan becomes obvious when he uses terms to help describe how the business has grown. “Just as in Judo, we use our competitors’ weight to our advantage. Ferrari has shown that a car company can exist and compete in the luxury space and have value. I don’t have to prove it again, as Ferrari has already proven it. We’re going further than Ferrari though, by having a car in all key luxury and high-performance segments; covering the model range of Bentley, Rolls-Royce, Lamborghini and Ferrari in one luxury brand.” Andy is referring to his comprehensive ‘Second Century Plan’ which will drive growth by replacing every car in the current range, adding up to three model lines and entering sectors new to the company. “Our plan is well known: seven cars over seven years, with seven-year product

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Above, some of the IoD delegation at Aston Martin Lagonda, where they heard from the company’s CEO, Dr Andy Palmer

Simply stunning cycles, then copy, repeat. You have to both widen and deepen your portfolio to fit the needs of today’s high net-worth customer.” “Our priority as a company has been to adopt a ‘Beyond Lean’ approach, using management systems that strengthen our operational performance in every facet of our business. “But despite a greater use of technology, Aston Martin’s cars must still be predominantly built by hand to maintain the company’s premium appeal and exclusive personalisation. “The seats for instance, remain handstitched and signed by every seamstress. Every car on the production line is essentially unique.” Bearing in mind only 25 per cent of its annual production goes to the EU, is Andy worried about Brexit? “Our concern is the disruption border problems and red tape might cause to the supply chain. We don’t want the production line slowed or cars awaiting parts, for example. We have contingencies in place. There is undoubtedly a cost associated with it, but it’s cheaper than not building cars.”

Having only ever built 85,000 cars in its history, it is currently producing around 6,400 cars this year and plans to reach 14,000 by 2022 – this at a time when the rest of the British car industry is struggling. Under the guidance of Andy, Aston Martin is today a phenomenal success. Not only the fastest growing automotive brand in the world right now, they are also the fastest growing UK brand in any sector, with 185% growth in US market over the past year alone. Having identified future trends in High Net Worth Individuals, they will have 21 dealers in China by the end of 2018, where interestingly, 50% of customers are female. They have established a network of 160 dealers in 53 countries, with further plans to invest and strengthen their market position in these countries, covering all principal luxury markets across the globe. Aston Martin is most definitely on the journey to achieve its ‘Second Century Plan’, and you’d have to say, it looks like its success is here to stay. • This event was the culmination of our Productivity Breakfasts series in partnership with BHSF.

Inclusivity agenda

One of IoD West Midlands’ key goals for 2019 is driving forward its inclusivity agenda. Here, Jackie Hendley, deputy chair, IoD West Midlands, outlines what this is, why it is so important and the steps the IoD is taking to promote and implement it

When people ask me why having inclusivity embedded into your business or organisation is so important, it sometimes helps to answer by demonstrating it in action and highlighting the benefits inclusivity brings. A new example came for me at a recent meeting. One of the speakers pointed out that, when Nobel Prize winners were asked what had inspired them, a large proportion of them said they got their drive to promote peace from bumping into someone different to themselves. They realised that only by understanding how others think can we see things differently. Their response highlights how understanding the viewpoints of people from outside your immediate circle improves your thinking and decision making. By mixing and liaising with diverse individuals you create a real diversity of thought that finds the most effective response to challenges. It is often easy to create a culture where you surround yourself with people who look and think like you do. But while comforting, such a culture will always reduce the breadth of knowledge and thinking that you access; you end up with little variety of thought and a narrow band of options to access for solutions. Consider the Brexit debate: how many business leaders approached the referendum in 2016 confident that the UK would vote to Remain? After all, the IoD and the CBI were predicting that outcome; your social media channels and Linked In network were probably full of people saying ‘Remain’. Yet the UK voted Leave, surprising many within the establishment. But the clues were there – if you knew where to look outside your immediate circle. A friend of mind recalls how, shortly before the referendum, he ventured out onto the factory floor and asked his staff directly, which way would they be voting. He came back to the office a chastened

IoD is determined to push true inclusivity to the top of the agenda man: “We’re voting Leave,” he told people from then on. No-one he knew would be doing so – but then again, everyone he spoke to looked like him, thought like him and acted like him. Inclusivity was definitely missing from the group he discussed the issue with, but when he widened the conversation the response he received took on a different form. That story highlights the dangers of ‘un-inclusivity’: narrowing debate and ignoring the considerations of people who think differently to you. If your business is going to succeed, it has to be there for all society, not just sections of it. This is one of the key points about championing inclusivity. People sometimes think that it’s just about being fair and giving everyone a chance to succeed to the levels their talents dictate, of avoiding discrimination against one group or another, whether consciously or sub-consciously. These are important considerations, of course, but it goes much deeper than that for businesses. For directors, it makes sense to ensure that when you hold discussions around the boardroom table, you have every facet of public opinion, interests, concerns and

“People sometimes think that it’s just about being fair and giving everyone a chance to succeed to the levels their talents dictate, of avoiding discrimination against one group or another ...these are important considerations, of course, but real inclusivity goes much deeper than that for businesses ...”

tastes covered. Your board must reflect the society it is talking to. That’s true inclusivity. So what is IoD West Midlands going to do about this, if we are to make 2019 our Year of Inclusion? First, we’ve set up a working group to lead the inclusivity agenda. We’ve agreed a definition of what we’re trying to achieve, set out our objectives and pulled together a diary of events to take the issue out into the business community. The definition first: “Inclusivity describes a culture whereby groups or individuals with different backgrounds and beliefs are culturally and socially accepted and welcomed; everyone is treated fairly” This sums up our view of what inclusivity means in our workforces. At the same time as promoting this understanding, we hope to broaden the reach of IoD West Midlands to include different industry sectors; geographical mix; size of business; age profile and diverse communities in order to achieve increased talent being involved in both the IoD and in our boardrooms. By achieving this, Birmingham will be seen as a role model which will help to grow reputation, investment, efficiency and profitability. We want to involve the whole IoD membership in this as well as the wider business community. To do so we intend to host a number of events to showcase the benefits of inclusivity and demonstrate best practice. We will be looking for and utilising IoD members to act as role models for

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inclusivity. We will interview role models and share their responses as to why inclusivity is important to them and the impact a wholly inclusive culture in the workplace could have on business. We are also looking to build on our university mentoring programmes, by asking business leaders who students can identify with to speak about their careers. This group would include younger entrepreneurs, women working in traditionally male-dominated industries and people from different faiths and ethnic backgrounds. We are looking for opportunities for individuals who are currently underrepresented in boardrooms to shadow existing directors. This will help them to understand the challenges of boardroom decision making and start to gather the skills they’ll need later in their careers. We feel it is also important that the IoD ‘walks the talk’ on this issue, too, and does all it can to embed inclusivity in its actions. An example of one area we will be

“We cannot afford to overlook sections of our community who, traditionally, have not featured prominently in our decision making. All that means is that previously, great talent was overlooked, or underutilised...” considering is the timing of our events. For instance, IoD events are traditionally held in the early evening or before the working day begins, at breakfast events. Are such timings accessible to all sectors of society? Do they immediately exclude young mothers / solo parents who may have childcare or other family-related issues, from attending? Finally, we want to highlight examples of great practice through our Director of the Year Awards, where there is a category to reward those directors who have taken the lead on inclusivity in their workplace. Many of the ideas I’ve discussed here will be given more substance at our launch event, to held later in the Spring. I hope you

can find the time to attend it. The inclusivity agenda, as I stated earlier, is a key strategy goal for the IoD. It reaps benefits that touch every corner of society – and makes business sense, too. We cannot afford to overlook sections of our community who, traditionally, have not featured prominently in our decision making. All that means is that previously, great talent was overlooked, decision making was based on a narrow band of views and the business sector lost out as a result. That situation has to change: it’s time to reap the rewards of the talents of everyone in our society.

Key events to watch out for in 2019 International Women’s Day Lunch #BalanceForBetter Date: Friday, 8 March Time: 12:00pm – 2.30pm Venue: John Lewis Community Hub, Grand Central, Birmingham B2 4AU Cost: £10 + VAT

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Women as Leaders Annual Lunch Date: Thursday, 4 April Time: 12:00pm – 2:00pm Venue: 53 Edgbaston Park Road, Birmingham B15 2RS Cost: £45+ VAT members, £50 + VAT non-members

IoD West Midlands Roadshow: How to be Leaders in Inclusive Business Date: Wednesday, 18 September Cost: £45 + VAT members, £75 + VAT non members Venue: National Conference Centre Half day event, including lunch

Director of the Year Awards launch

IoD Director of the Year Awards 2019 A celebration of leadership, talent, success and achievement IoD West Midlands Director of the Year Awards Champagne Breakfast: Tuesday, 11th June 2019

to praise those directors who have excelled over the past 12 months, the awards also raise awareness among the wider business community and the general public of the significant contribution business leaders can make to society and to economic prosperity in our region. It is this wider recognition that means It’s time to shine the spotlight on the winners’ benefits are far beyond the region’s finest business leaders, as entries recognition and prestige associated with and nominations open for the 2019 IoD winning one of the Award categories. West Midlands Director of the Year IoD Members are encouraged to either awards. ENTER the awards or to NOMINATE a The Awards themselves will be handed leader that you feel excels in one of the out at a Champagne Breakfast on Tuesday, above categories. 11th June 2019, where we will celebrate Please visit www.iodawards.com/ the best-of-the-best among West Midlands westmidlands for more detail, which businesses and acclaim directors includes a step-by-step guide on who are at the forefront of Key dates how to enter. leadership excellence. Nominate and The awards are open to Enter now. Entries need to be both members and Closing date for completed by Friday, 1st non-members from across entries: March 1. March and our Champagne the business spectrum. See Breakfast will take place at Awards day: panel for the categories Edgbaston Cricket Ground on Tuesday, available. 11th June. June 11, 2019 As well as an opportunity

The categories for the 2019 DOTYA are: • Corporate Social Responsibility • Family Business • Inclusivity • Innovation • International • Non-Executive Director • Public Sector • Third Sector • Start- Up • Young Director • Small-Medium Business (below £50m turnover) • Large Business (£50m+ turnover) • Chair’s Award for Excellence in Director and Board Practice

The 2018 Awards winners, led by our Director of the Year, Carmen Watson of Pertemps

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So how do you apply... and what should I say? Whenever we launch the IoD West Midlands Director of the Year Awards, we have members approach us to ask, ‘how do we enter...’ and ‘what should we put on our application/nomination?’ To help clarify some of the key points, we asked Ian Priest, an IoD National Awards Judge, to offer his Top Tips to help you complete your submission.

Ian’s Top Tips Remember at all times that the IoD is about individuals not organisations, so your answers should be biased to what you have done, what you have achieved or influenced. Think about how you have driven the organisation’s success, rather than what the organisation has done. If the organisation has made great achievements stress what you did to make it happen. The following are areas that the judges

will be considering when making their decisions: Vision. Articulate your vision and how you are driving that forward.

Approach to challenge and obstacles / Innovation. Talk about the challenges that you have encountered and how you overcame them. What did you learn from the experience? Tell the judges how you have innovated, new ideas / new processes / new approaches etc Company culture. What do you do to foster a good culture –what would a good company culture look like to you? What is your attitude to Continual Personal Development and Corporate Social Responsibility for yourself and your staff? How do you drive this through the organisation?

If your organisation has great CPD or CSR don’t forget to state what you do to drive that. Corporate Governance. If your organisation is too small to have a full board demonstrate how you ensure that you make good decisions, for example a mentor or consultant. If you are a larger organisation discuss the role of independent chair, non exec directors, how you ensure the board is balanced and remains up to date. How often do you refresh the board or provide specific training to directors, for example? Leadership. Describe why your team would see you as a role model and how you have provided strong leadership at times of stress or challenge. Do you have any other questions? Ask the regional office on 0121 643 7801.

Enter now at www.iodawards.com/westmidlands

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Viewpoint

Let’s build a West Midlands economy that’s really fit for the future Notwithstanding the collapse of Government or the ‘Deal or no Deal’ fracas of Brexit, IoD West Midlands is expecting to receive details of the Local Industrial Strategy during January. With more than £4.5billion of investment in infrastructure, skills training and housing already lined up for the region over the next decade and opportunities for a further £10billion, the Local Industrial Strategy will channel that investment so it generates the maximum benefit for both businesses and local people. The West Midlands generates around six per cent of the UK’s economic output. While productivity has increased by more than double the UK rate over the past year, the region has significant additional potential to improve this figure still further. If our economy performed to its true potential, the regional GDP would be £16.9bn larger. So our Industrial Strategy aims to bring together public services, communities, training providers and businesses with a shared vision for inclusive growth, showing how we can reach our potential and do so in ways that enable all our communities to benefit. In the words of Andy Street, Mayor of the West Midlands: “We have a long and proud industrial heritage but now need to cement our place at the cutting edge of a new industrial revolution driven by technology. “The good news is that we are already home to some of the world’s most competitive and innovative companies in sectors such as advanced manufacturing and medical research and development (life sciences). “We also lead the way globally in electric and autonomous vehicle development and have strong digital and light rail industries. “Our goal is to build on recent success to continue to create an economy that works for everyone – one that delivers decent, well-paid jobs for local people and the right conditions for competitive, world-leading businesses to thrive and grow. According to Councillor Ian Ward, Leader of Birmingham City Council: “The West Midlands has always been a hotbed of creativity and our challenge now is to nurture the cutting-edge companies and advanced manufacturers that play an

Mircocab is leading innovation in hydrogen transport, from Coventry’s Technology Park

increasingly vital role in our regional economy. “But growth alone will not be enough. The Local Industrial Strategy must be about creating inclusive economic growth across the West Midlands and we must ensure that people have the skills needed to fill the new jobs being created. “This strategy is about driving up productivity and growing our regional economy in a way that can bring greater prosperity to all our communities. We must give people a real stake in our future success.” The WMCA and three LEPs have worked closely with key organisations across the private, public, academic and voluntary sectors as well as government to identify

the big business opportunities and strengths of the West Midlands, based on what they see as the region’s key winning positions: • The UK centre for innovation in new forms of transport such as electric vehicles, connected and autonomous vehicles (CAV) and battery manufacture. • A global leader for testing and bringing on stream new medicines and health devices • The biggest financial and professional services cluster outside London • A top location for the creative sector with world leaders in gaming and innovative content producers for new platforms

“Our goal is to build on recent success to continue to create an economy that works for everyone – one that delivers decent, well-paid jobs for local people and the right conditions for competitive, worldleading businesses to thrive and grow...” Andy Street, West Midlands Mayor

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The car industry is dead... long live the new car industry “The biggest challenge for the automotive industry hasn’t changed. You still have to stand out and stand apart by appealing to hearts and minds by offering the right mix of a performance brand, product innovation and customer experience.” So began an engaging talk from Geoff Cousins to IoD members at an event before Christmas. Geoff knows what he’s talking about: he spent 30 years within the motor industry and now runs GCA Partners, which helps ambitious businesses develop and deliver their strategy. “We hear a lot about disruption, but this is nothing new to the industry. The difference is that today’s disruption is all-encompassing and sees the convergence of auto and tech to a greater level than ever before. “As electric vehicles become more common and connected cars and autonomous vehicles stop being a thing of science fiction but a reality, surely this must mean the traditional auto industry is dead? “Key drivers of change such as socioeconomic trends, political and regulatory

pressure, along with, of course, the rise of technology, are definitely pushing pioneering firms such as Tesla to develop and deliver the car of the future, as long as they can surpass the challenges in front of them. “For example, the growth of electric vehicles is restricted by battery technology, scarce resources, infrastructure issues and customer perceptions. Will we ever have complete trust in autonomous vehicles, or a separate infrastructure to support them? Will regulation squash innovation? “How long will Tesla, the ultimate disruptor, stay in the game before they retreat back to focusing on ‘energy’, having struggled with high costs and losses as well as manufacturing issues?”

In Geoff’s opinion, the death of the auto industry is exaggerated, with regulations and lack of infrastructure potentially limiting the speed of adoption. Undoubtedly, a genuine risk to European automotive companies, bigger than the pace of change and huge investments needed, is China. A global leader in automation, China now produces more cars than the USA and Germany combined. To conclude, Geoff challenged the audience to think about their own business environment. With more demanding customers, dynamic competition and all persuasive technology, Disruption should be considered the new norm!

‘Key drivers of change are pushing pioneering firms such as Tesla to develop and deliver the cars of the future’ Geoff Cousins

Annual Dinner

Brexit debate can’t be allowed to stall the devolution drive Calum Nisbet IoD West Midlands Annual Dinner brought 2018’s events to a close in the majestic setting of Warwick Castle’s 17th Century Great Hall. Steeped in history, the hall boasts an impressive collection of arms and armour, some of which sprang to life to determine whether our noble guests were allowed to remain seated in the hall or banished into the cold. Having established that we could indeed stay, we welcomed IoD Director-General Stephen Martin as our opening speaker. Acknowledging that the work of business leaders can sometimes go unrecognised, Stephen invited members and guests to celebrate each other’s achievements and their contribution to both the region’s economy and society. Praising the economy of the West Midlands and the appointment of the Mayor, Stephen commented that,“The devolution agenda is one area of policy, like many, which has perhaps fallen into the background as Brexit has taken centre stage. I think it is important that we work to restore momentum to this process. We need to help ensure that the region has the tools it needs to stimulate investment and support the business community. “While Brexit has taken up so much bandwidth in our public debate, this is an issue that will only become more pressing once we leave the European Union.” He applauded the way that business is dealing with the uncertainty and chaos created by the world of politics. “In the wider public sphere, it has become commonplace for strong views on Brexit to tip over into uncompromising attacks. Too often people on both sides have described one another’s positions as stupid or even treasonous. “But I never encounter this approach with IoD members. Perhaps this is because we understand that all deals involve trade-offs. Perhaps it is because we are the ones who will, at the end of the day, be putting in the hours adapting our organisations to the change, regardless of what shape that change takes. “It is simply in the nature of the business community to stay clear-eyed and pragmatic about the challenges the future holds. We can’t afford not to do so. “But dare I say that this might not be the general trend in the world of politics, where tomorrow’s headlines often hold sway over the idea of solving the

Our two keynote speakers, BMW’s Michelle Roberts and Stephen Martin

underlying issues at hand.” The IoD’s guest speaker for the evening, Michelle Roberts, delivered a thoughtprovoking speech on ‘cars of the future’ – an issue she is eminently qualified to address, as Marketing Director for BMW UK. Michelle has been with BMW for 18 years and previously headed up marketing for the iconic MINI brand in UK and led the PR for BMW Group’s sponsorship of the London 2012 Olympic and Paralympic Games. More recently, Michelle was based at HQ in Munich, responsible for the management of global BMW advertising. Today she has the enviable task of protecting and growing the iconic BMW brand and supporting the development of their global product strategy for the future. Michelle explained how her team is making decisions now on cars that will be launched in the UK well into 2025. “BMW has always been a futureoriented brand. Ever since it was founded in 1916, the group has played an important role in shaping the future of – not just cars – but mobility overall. We have done so by constantly reinventing ourselves, evolving from an aircraft engine manufacturer to a motorcycle producer and then car maker.” Asking guests to imagine what a car might look like in 100 years’ time, Michelle introduced the principles of what she believes will shape cars for the future.

- Mobility is becoming versatile - Connectivity is becoming second nature - Mobility is becoming tailor-made - Technology is becoming human - Energy is becoming emission-free The strategy adopted by BMW for the next 100 years is already formed and is based on five key elements: digitalisation, autonomous, connectivity, electrification and shared. “If you are to take these elements as fundamental, it radically changes the way we think about design, building, owning and even using the traditional car. “To demonstrate how technology has moved on, having launched the i3 in 2013, BMW has already more than doubled its range capability and our next models will see that range figure double again. “There are now significant reductions in the time it takes to charge a car and wireless car charging is now a reality. “By 2025, we will have 25 electrified vehicles on the market. So the future is electric – that much is clear! “The road to autonomous vehicles is not so clear. BMW already offers highly autonomous driving assistance systems, from automatic cruise control, lanekeeping assistant and even the ability to stand outside the car and have it park automatically. “However, the future of autonomous cars will be determined on a wider societal

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Warwick Castle’s knights surprise guests with a sword fight

IoD members Dean and Marie Kavanagh with David Kearns

level. How and when the technology comes in to play are important questions not just for carmakers but for customers and regulators. So for now, the BMW approach is not to make the driver redundant, but rather to use that technology to make us all better, safer drivers. “Connectivity and digitalisation permeate every aspect of our lives, and our customers expect their cars to be no exception. “An interesting fact is that on average, a car is driven for just four per cent of its life. In the future, we see huge potential to unlock the more efficient use of each vehicle through on-demand and shared service arrangements “So our business is changing to reflect the changing world around us. But one thing that won’t change is our commitment to providing a PREMIUM personal mobility experience. One that is truly emotional and exciting, even at times when you might not be driving at all.” As guests left the Great Hall and walked past the stunning BMW i8 Roadster, you could not help but think what the vehicle parked there in 100 years might look like…. Our thanks to BMW and Coventry University for their support of our Annual Dinner and to the team at Warwick Castle for making it such an amazing evening.

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Guests from Qatar Airways enjoying the event

BMW exhibits outside the Great Hall

ART

ART offers unique return on a social investment Founded in 1997, Birmingham-based ART Business Loans has been lending successfully to small businesses and social enterprises, particularly those in under-served areas and communities, ever since. Through its work, ART continues to address the lending gap left by the high street lenders, providing finance to businesses and social enterprises that need funding to grow. For 2019 ART has announced a new community share issue that will look to raise £500,000 in additional capital to support its work in the next financial year, and is looking for individuals and businesses to buy ART shares. Doing so will not only show your support for your community and offer a considerable social return but, as ART’s chief executive Dr Steve Walker explains here, will also provide an attractive financial return in the form of a tax relief. IoD West Midlands talked to Steve about ART’s plans, and why IoD members should look to get involved. IoD: Steve, could you outline exactly what you are looking to do with this share issue? Dr Steve Walker: We are looking to raise £500,000 from individual and corporate investors to provide additional capital to support responsible finance to businesses in the West Midlands. Put simply, the money we raise will be used to lend to businesses from some of the West Midlands most marginalised communities, giving them the financial support they need to develop business ideas, grow businesses and invest in their communities. IoD: Typically, what type of businesses apply for these funds. DSW: ART’s borrowers are diverse in terms of size, activity, their stage of development and the challenges they face. In the past they have ranged from traditional manufacturers to hi-tech digital companies, and from caterers to consultants. What links them all is that the high street banks have turned them down – either fully, or in part – and that’s where we come in. We have tried to return access to finance to something more than just a ‘box ticking

difference ART has made. We’ve lent £11.7m and supported 363 businesses during that time – almost all in otherwise deprived/marginalised communities where every job matters. Over that period we have either helped create or safeguard over 2,300 jobs. That has taken a huge amount of pressure off the public sector in the form of benefits, housing costs, etc.

exercise.’ Rather, we get to know the people we are lending to and look closely at their business plans and undertake a thorough risk analysis before lending. But while we take a professional and rigorous approach to lending, we are a social lender first and foremost so we take the attitude that we want to lend to qualifying businesses, rather than looking for excuses not to lend. This reversal of approach is one small businesses say is our main point of difference. Our borrowers appreciate it: As one recent recipient of an ART loan said: “In spite of having a good financial record, we did not fit the criteria for the banks. ART is less restrictive in its lending assessments and very fair.” Another said ART was thorough in its investigation but was “prepared to take a calculated risk and support an entrepreneurial approach.” These sentiments highlight that obtaining access to finance remains a challenge for many, despite the large growth in the alternative business funding sector. IoD: What impact have ART loans had on the community? We like to think that the stats speak for themselves. Just looking at the figures from 2013 to 2018 you can see the

How much do businesses borrow? DSW: Our average loan size is around £35,000, payable back over 4-5 years. As you can see, it is not a huge amount but it is the type of figure that makes a real difference to a start-up or small business. We have numerous examples of how the cash has helped businesses. An ART loan kept social enterprise Change Kitchen afloat when changes to funding hit its client base overnight; Able Journeys invested in specialist equipment to help disabled people on their holidays; while our loan allowed Joanne’s Florist and Tea Room to invest in larger premises and a new van to support its growth plans. IoD: How does the share issue work in practice and how much are you looking for per investor? DSW: The investment is in the form of a community share offer. We are looking to raise a total of £500,000, with a minimum investment of £500, and the maximum £100,000 per individual/company, with the money invested for a minimum of five years. IoD: What do I get for my investment? DSW: Two things – and the second will surprise you. First, you get the assurance that you are investing in your local community, in entrepreneurs, in small businesses and in some of the region’s most marginalised people. That’s a huge contribution to make. The social return on this investment is immeasurable. It can count towards your business’s CSR programme, if you wish, or it could be just an example of you ‘giving back’ to the community. But it is important to stress that this is not a charitable gift. It is a real investment with a financial reward. Investments in this share issue must stand for five years and then are repayable in full. We are a not-for-profit Community

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Cadbury family investors Caroline and Benedict (centre) with ART’s Chief Executive Dr Steve Walker (far left) and Chairman Dr Nick Venning DL (far right) at ART’s 20th anniversary AGM Benefit Society, so there are no direct returns on the investments. But each investor can expect to receive a real world return on their investment of 5% per annum by taking advantage of Community Investment Tax Relief (CITR). This relief was set up by the government exactly for this purpose, to encourage high net-worth individuals and companies to invest in local businesses, entrepreneurs and social enterprises over the long-term. CITR provides a reduction on the amount of income tax or corporation tax (as applicable) paid in a year by the investor and is spread over a five-year period following an investment. For example, if an individual invests £10,000 they should receive a £500 per annum reduction against their income tax liability (a total of £2,500 over the five year period of the investment). This equates to

Further information

Tax payer rate Gross Effective Rate 20% Income Tax 6.2% 40% Income Tax 8.3% 45% Income Tax 9.1% 17.5% Corporation 5.8% a ‘return on investment’ of 5% per annum, net of taxation. IoD: That makes the 1% I’m getting from my high street building society account look a little sick! DSW: That’s the point. If you had invested the same capital in the ART Share Issue as you have in the building society you would be getting a much better ‘return’. The gross rates for all levels of tax payers are displayed in the table above. How do I claim my money back on the investment?

See www.artbusinessloans.co.uk/ invest-in-art Offer opens: 7th January 2019 Offer closes: 24th March 2019 Target: £500,000 See www.ethex.org.uk/ART2019

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DSW: ART will issue a tax certificate to investors, which will include their name, address and size of their shareholding in ART. You then submit the tax certificate to HMRC to claim the relief on your selfassessment tax return for each tax year for which relief is due. If you do not normally complete a tax return, you will need to request one from HMRC. A corporate wishing to claim relief should claim as part of its corporate tax return for each appropriate accounting period. IoD: A straight forward ‘return’ on a social investment; sounds good. DSW: The social return from working with ART cannot be underestimated but by using CITR, investors can make sure their money is still working for them while it is working for the wider community. It is a win-win arrangement that I hope many IoD members will be keen to explore.

Further information on CITR and how it can be claimed by investors can be found on these websites: www.responsiblefinance.org.uk/ the-community-investment-tax-relief-citr www.gov.uk/government/publications/ community-investment-tax-relief-citr For more information on ART’s case studies see: www.artbusinessloans.co.uk/casestudies

Mastermind Groups

Mastermind Groups: Your specialist subject – director development The IoD West Midlands Mastermind Groups bring members together to share ideas and concerns and build strong business relationships in a safe, constructive and non-judgemental environment. They offer a combination of brainstorming, education, peer

accountability and support in a group setting that sharpens business and personal skills. The ethos is to provide a positive, informal but challenging and supportive space to discuss issues that confront directors on a daily basis. The format is simple, with introductions and

feedback before all members share a summary of topics they would like to discuss. All groups include a two-course meal with wine and coffee except the breakfast group, which includes a full English breakfast.

To book: online at www.iod.com/westmids or contact Calum.Nisbet@iod.com BIRMINGHAM

WARWICKSHIRE

HEREFORD AND WORCESTER

Hotel du Vin Dates: Thursday, 17 Jan Rest all Mondays: 11 Feb 11 Mar, 15 Apr, 13 May, 10 June Time: 18:00 - 21:00 Venue: Hotel Du Vin, 25 Church St, Birmingham B3 2NR Cost: £30 + VAT

Macdonald Alveston Manor Hotel Dates: All Mondays 11 Feb, 11 Mar, 8 Apr 13 May, 10 Jun, 8 July, 9 Sept, 14 Oct, 11 Nov, 9 Dec Time: 18:00 – 21:00hrs Venue: Macdonald Alveston Manor Hotel & Spa, Clopton Bridge, Stratford upon Avon, CV37 7HP Cost: £30+VAT

Stanbrook Abbey Dates: All Thursdays: 10 Jan, Feb TBC, 14 Mar, 11 Apr, 9 May, 13 June Time: 18:00 - 21:00 Venue: Stanbrook Abbey, Jennet Tree Lane, Callow End, Worcester WR2 4TY Cost: £30 + VAT The Herefordshire and Worcestershire mastermind group focuses on supporting personal goals. It meets in the Clarence Room, and so far topics discussed have included business growth, crowd funding, staffing and IT infrastructure.

SHROPSHIRE

WOMEN AS LEADERS

BREAKFAST GROUP

Haughton Hall Dates: All Tuesdays: 15 Jan, 12 Feb, 19 Mar, 9 Apr, 14 May, 11 June Time: 18:00 - 21:00 Venue: Haughton Hall Hotel, Haughton Lane, Shifnal TF11 8HG Cost: £30 + VAT IoD member, Geoff Williams, will facilitate this group in the Brooke Suite.

EDGBASTON PARK HOTEL Dates: All Tuesdays: 12 Feb, 12 Mar, 9 Apr, 14 May, 11 June, 9 July, 10 Sept, 8 Oct, 12 Nov Time: 18:00-21:00 Venue: Edgbaston Park Hotel, 53 Edgbaston Park Road, Birmingham B15 2RS Cost: £25+VAT

HOGARTHS Stone Manor Dates: All Thursdays: 24 Jan, 28 Feb, 28 Mar, 25 Apr, 23 May, 27 June 25 July, 22 Aug, 26 Sept, 24 Oct, 28 Nov Time: 07:30 - 10:00 Venue: Hogarths Stone Manor Hotel, Bromsgrove Road, Kidderminster DY10 4PJ Cost: £13+VAT Ian Priest, IoD Black Country Branch chairman, facilitates this mastermind group which meets for a full English breakfast.

STOKE & STAFFORD Weston Hall Date: All Mondays, 28 Jan, 25 Feb, 25 Mar, 29 Apr Time: 18.30-21.30 Venue: Weston Hall Hotel, Stafford ST18 0BA Cost: £30 + VAT

This members only event is facilitated by Richard Bisiker, IoD Staffordshire Chairman. Richard is a personal development coach, trainer and author who specialises in communication. He is a Master Practitioner of neuro-linguistic programming and other people management techniques.

The evening includes a two-course meal with wine and coffee.

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New survey suggests Birmingham could emerge from Brexit with top 10 position for employment growth According to a report by Irwin Mitchell, Birmingham’s employment growth could be in the top 10 across UK cities in the three months following the UK’s current scheduled date for leaving the EU. The UK Powerhouse study by law firm Irwin Mitchell and the Centre for Economics and Business Research (Cebr), says that Birmingham’s year-on-year employment growth in Q2 2019 could reach 1.6%. Cebr’s forecasts are based on the assumption that the UK and the EU will be able to form a compromise and sign a partial free trade agreement (FTA) covering at least the most important goods traded. The assumptions are also based on the transitional arrangement being put in place that allows a continuation of the current relationship without any major disruptions until an FTA is agreed on around 2021. According to the report, Coventry will be down in 34th position with a 0.7% growth in jobs whilst Wolverhampton’s 0.1% increase puts it down in 43rd

place. Despite the relatively strong performance in terms of employment, Birmingham’s annual GVA is forecast to fall from 2.1% in Q2 2018 to 1.1% in Q2 2019. The report commended Birmingham’s efforts for pursuing a policy to reduce youth unemployment. The city secured funding from the EU for a Youth Employment Initiative in 2016, which has been supporting the rate of employment growth recently. However, support from the EU will end when the UK leaves the EU. It also raised a number of other concerns for the future,

stating that the difficulties that are expected to be faced by the automotive sector could hit the Midlands region hard and eventually see a shift in migration towards London and the South. Chris Rawstron, partner at Irwin Mitchell in Birmingham, said: “The overall impacts of Brexit on the West Midlands in the long term prove difficult to measure at this stage. “One thing that the last decade has taught us is that despite the hugely disruptive force of the financial crisis, the UK economy has been incredibly resilient. It is vital that we tackle the challenges head on and take advantage of the new opportunities that emerge. “The UK is a global powerhouse and the Midlands region plays a big role in this. We need to stay positive and work together to ensure this remains to be the case.” More on Irwin Mitchell at www.irwinmitchell.com

“One thing that the last decade has taught us is that despite the hugely disruptive force of the financial crisis, the UK economy has been incredibly resilient. Chris Rawstron

Appointment boosts real estate team The Birmingham office of Irwin Mitchell has recruited another new senior lawyer for its Real Estate department. Stuart Tym has joined from The Wilkes Partnership where he was a Senior Associate and Head of Planning. He has a wealth of planning experience having advised in-house at both district level and county level local planning authorities, as well as having advised in the private sector where he has acted for both developers, funders and private individuals on their planning needs. Stuart joins a now eight-strong planning team led by National Head of

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Planning Carl Dyer, which covers clients across the UK including Jasper Group, Roffey Homes, Store Properties, Welbeck Land and Westerleigh. Adrian Barlow, National Head of Real Estate at Irwin Mitchell commented: “Stuart will be a great asset and his appointment comes after the announcement of Tim Rayner, partner and our new Joint Head of Property Litigation. “We will continue to grow our national real estate offering across the UK, from the seven of our UK offices

Stuart Tym that offer legal services to the business community. We hope to announce further new senior recruits shortly.” Irwin Mitchell’s National Real Estate practice now has over 30 real estate partners offering the full range of commercial and residential legal advice. The commercial practice is focused around housing, strategic land, investment & asset management and retirement living.

Events Diary

IoD Spring Dinner has cyber security on menu Date: Time: Venue: Cost:

Thursday, 28 March 19.00 – 23.00 Hogarths Stone Manor, Bromsgrove Rd, Kidderminster DY10 4PJ £50 + vat

It seems fitting that our Spring Dinner at Hogarths Stone Manor this year should be on the eve of Brexit (…that’s correct at time of going to print!), but don’t worry, we are giving you an evening off that topic, replacing it with one that is arguably every bit as important: cyber security. To help us understand this issue a little more we are delighted to welcome Professor Prashant Pillai, Professor of Cyber Security and Director of Wolverhampton Cyber Research Institute, as our guest speaker. Prashant leads the Institute team developing the Hereford Centre for Cyber Security (HCCS) which will open on the Skylon Park Enterprise Zone in 2020 and will form part of a national ‘Cyber Triangle’ with

GCHQ Cheltenham and the Government Cyber Centre in Newport and ‘Cyber Valley’ with Worcestershire. It will be an anchor building generating new research and short course opportunities that will feed into training and education in industry. Professor Prashant was recently appointed by the IEEE – the world’s largest technical professional organisation for the advancement of technology – as a co-chair of the 5G-Satellite subgroup of the 5G Technology Roadmap Working Group and is a founding member of the IEEE special interest group on Big Data for Cyber Security and Privacy. Prashant will introduce us to the work of the HCCS and discuss some of the crucial cyber topics of our day, including how industry can work collaboratively with universities to better understand the benefits of Artificial Intelligence and how best we can all tackle threats in cyberspace. Please book your space at www.iod.com/westmids

adi Group to host first of ‘Chair’s Best Practice Visits’ Chair’s Best Practice Visit to the adi Group Date: Wednesday, 13 February Time: 12:00pm-2:00pm Venue: Melchett Road, Kings Norton Business Centre, Kings Norton, West Midlands, B30 3HX Cost: Free of charge In the first of our Chair’s Best Practice visits, we are delighted to have been invited to visit adi Group, a multi-disciplined engineering company offering a ‘one stop shop’ for engineering services. Their customers include numerous global brands spanning food and beverage, automotive, aerospace, pharmaceutical and defence. Founded in 1990, the group today comprises 17 limited companies offering engineering solutions through over 30 specialist service divisions and across 40+ UK and Irish locations. The business is extremely focused on its people and culture, resulting in a staff retention of around 97%.

adi Group’s sustainable business model is to grow the business by adding an additional engineering service to their Group every 12-18 months. Each of their businesses are treated as a start-up, are self-invested, and involve recruiting a senior market specialist to build the business from scratch, rather than via acquisition. Having quadrupled their business organically over the last 10 years to over £100m turnover, their Vision 2020 business plan is to take this growth on its next steep trajectory. In support of the vision they are passionate about helping the local community and supporting the engineers of the future through their pioneering preapprenticeship programme. The event will include a light lunch and optional tour of the facility.

IoD West Midlands Leadership Series

Value-creating boards – and how they can help your business stay competitive Workshop 4 Date: Thursday, 24 January Time: 7:30am-9.30am Venue: Business Solution Centre, University of Wolverhampton, The Development Centre, Coxwell Avenue, Wolverhampton WV10 9RT Cost: Free of charge Following on from our successful 2018 series with the University of Wolverhampton Business School, we are delighted to bring you another workshop – the fourth in this series – on the importance of good governance. From this workshop you will not only leave with a clearer understanding of the value which can be created by a board of directors and its individual members but also gain an insight into the state-of-the-art research into corporate governance. In this interactive workshop we will handle a case in a simulated board meeting where discussions and solutions will emerge. The workshop will focus on how you can organise your governance structure to meet the needs of your business while staying competitive in the marketplace.

Don’t forget our free Members’ Evenings... They are free of charge and a great way to meet IoD West Midlands officers and fellow members over a drink. All events run from 6pm-8pm. CoVENTRY – Monday 25th February Coombe Abbey, Brinklow Rd, Binley, Coventry CV3 2AB SHROPSHIRE – Tuesday, 19 March Haughton Hall Hotel , Haughton Lane, Shifnal TF11 8HG

To book: online at www.iod.com/westmids or contact Jordan.Lowe@iod.com

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Women as Leaders

Carmen has a story to tell the Women as Leaders Annual Lunch Date: Time: Venue: Cost:

Thursday, 4 April 12:00pm – 2:00pm Edgbaston Park Hotel 53 Edgbaston Park Road, Birmingham B15 2RS £45+VAT members, £50 + VAT non-members

Open to all members, the IoD West Midlands Women as Leaders Annual Lunch will take place at the beautiful Edgbaston Park Hotel on Thursday, 4th April from 12 noon until 2pm.

The Annual Lunch was established four years ago to allow members to hear from business leaders who are focused on addressing the gender imbalance in senior roles. Guests will enjoy a drinks reception, a two-course meal and a glass of wine, while mixing with other IoD members and listening to the inspirational story of our guest speaker, Carmen Watson. Carmen, the current IoD West Midlands Director of the Year, is chairwoman of Pertemps, a near £1bn turnover operation.

Carmen will discuss her incredible journey with the company, which saw her beginning her career at Pertemps as a secretary before working her way through the business to board level. Carmen is also an active Board member of Race for Opportunity and is a strong advocate for equality, diversity and inclusion (ED&I) in the workplace. As well as heading up the ED & I committee within Pertemps, Carmen works proactively with external customers to help them achieve their objectives.

International Women’s Day Lunch 2019 #BalanceForBetter Date: Friday, 8 March Time: 12:00pm – 2.30pm Venue: John Lewis Community Hub, Grand Central, Birmingham B2 4AU Cost: £10 + VAT for members and non-members We are delighted to invite you to celebrate International Women’s Day with a debate around this year’s global theme, #BALANCEFORBETTER. Please join our esteemed panel of speakers who will discuss how we can all achieve a better gender balance in business. There will also be opportunities for you to ask your own questions to the panel. Organised in partnership with our colleagues at CIMA, this event will be held at the John Lewis Community Hub in Grand Central Birmingham and

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will include a light buffet lunch. Panellists will include: n Nikki Rimmington, Vice President and Chief Planning Officer at Aston Martin Lagonda (pictured above) n Roger Dix, Chief Risk Officer at Wesleyan and Sponsor of their inclusivity and diversity agenda n Julia Leask (pictured below), a CIMA Fellow who set up her business in 2010 after the birth of her son to get a better work-life balance n Professor Silke Machold, Professor of Corporate Governance and Dean of Research at the University of Wolverhampton

Events diary

A Walmley welcome awaits on the course for IoD golf day IoD West Midlands Members’ Golf Day Date: Wednesday, 15 May Time: 9pm - 5pm Venue: Walmley Golf Club, Brooks Road, Sutton Coldfield, Birmingham B72 1HR Cost: Fourball – £225 + VAT We are delighted to confirm that the IoD members Golf Day 2019 will take place at Walmley Golf Club on Wednesday, 15th May. The day will begin with a bacon roll and hot drink at 9am, with the first tee off at 10am. 18 holes of challenging golf later, we will reconvene in the bar for a welcome drink, two-course meal and trophy presentations. Details of individual places will be announced nearer the date, but if you can get a fourball together now, please book on with Jordan.Lowe@iod.com

Pictured, Walmley Golf Club: A picturesque – but challenging – parkland course. You can secure a fourball slot now

Maximise membership at free, informal events

Please join us at one of our Members’ Evenings in the first quarter of the year. These events are a great opportunity to meet other members, or for non-members to find out more about the IoD. The evenings are designed to be informal and relaxed, allowing you to mingle with your peers and make sure you are maximising your membership. Our first Members Evening is at the resplendent Coombe Abbey in Warwickshire, and our second at the elegant Haughton Hall in Shropshire. Both run from 6pm to 8pm and you can drop in for as long as you wish!

The events are free, but booking is essential at www.iod.com/westmids Coombe Abbey Date: Monday 25th February Time: 18.00-20.00 Venue: Coombe Abbey Brinklow Rd, Binley, Coventry CV3 2AB Haughton Hall Date: Tuesday 19th March Time: 18.00 – 20.00 Venue: Haughton Lane, Shifnal, TF11 8HG

‘A free, informal way to network with other members and find out more about the IoD...’

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Developing your skills with the IoD Professional Development in the West Mids 2019 In 2019, we will run the four individual modules that make up the Certificate in Company Direction every six months, designed to equip you with the knowledge and skills needed for effective performance, covering the key areas of governance, finance, strategy and leadership. We will also run the diploma and a bespoke courses such as the Role of the NED. These will all be held at iHub right in the heart of Birmingham’s business district. It is also possible to attend a local intensive residential course to complete the Certificate in just five-and-a-half days. As a long-established professional

awarding body, the IoD is the only institute in the world to offer internationally recognised qualifications designed by Directors for Directors under Royal Charter. The modules of the Certificate explore the characteristics, mind-set and behaviours of a boardroom executive and explain what it takes to become an outstanding leader. They are also the starting point for our Chartered Director qualification, an international benchmark of excellence that is the highest status that may be attained in the Director profession. IoD West Midlands is well represented by Chartered Directors, who would be more than happy to have a discussion with anyone thinking of becoming part of this exclusive network of senior professionals.

Our 2019 programme is:

Role of the Director and the Board 6-7 March and 27-28 Aug

Delivering an essential understanding of the board’s role in corporate governance and risk management, this introduction to the duties and legal responsibilities of a director will enable you to tackle the challenges of the boardroom with fresh confidence and progress your career. Whether you’re a newly appointed director, aspiring to a position on the board, or looking to improve your performance with fresh insight, this practical two-day course will equip you with the crucial knowledge and skill-set to fulfil your role successfully

Finance for NonFinancial Directors 1-3 April and 23-25 September

In today’s business world, every director needs to recognise the key financial concepts and terminology that underpin a successful understanding of their organisation’s financial position. This course, designed specifically for non-financial directors and senior managers, will demystify the world of finance, allowing you to monitor the financial health of your business, evaluate business plans with confidence and contribute more effectively to boardroom discussion.

Strategy for Directors 1-3 May and 21-23 Oct*

A dynamic strategic process is a critical part of delivering stakeholder value and generating competitive advantage for your organisation. This intensive course provides insight into the board-level

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knowledge and skills required to create, implement and evaluate organisational strategy. Explore the relationship between strategy, governance and risk and learn how to use tools and frameworks that support strategic thinking and decisionmaking. Get the practical insights into how to deliver your current business objectives while future-proofing your organisation.

Leadership for Directors 3-4 June and 18-19 Nov*

Strong leadership is fundamental to the successful realisation of an organisation’s vision. This intensive course provides a valuable opportunity for directors to explore strategic leadership issues both within and beyond their organisation. This module introduces a more personalised approach to leadership and delegates will be encouraged to understand and develop their own self-awareness and emotional intelligence.

Diploma in Company Direction 2-4 September

The Diploma is an opportunity to put into practice the knowledge gained from the Certificate in a realistic and safe environment. It encourages peer-group support, challenge and stimulation, mirroring in many ways the operation of a board. By replicating the issues of a ‘real’ organisation, you will gain hands-on experience that will not only enable you to achieve a world-class qualification, but also to make a significant impact on your board’s effectiveness.

You will receive feedback on your own performance as a board member and return to your organisation ready to tackle future challenges with greater expertise and confidence.

Role of the NonExecutive Director 4 July

This comprehensive programme is designed to equip you with practical strategies to build your network, raise your profile to secure an appointment, and add value in the boardroom. As more individuals choose ‘portfolio careers’ and demand for non-executive directors continues to rise within multiple sectors including third sector organisations and private companies, it has never been more important to understand the critical requirements and appropriate skill set of a non-executive director. Gain practical advice from an experienced portfolio non-executive director and participate in interactive case studies. Discover the latest interview tips from top industry head-hunters and put your questions to guest speakers who will be on hand to offer expert guidance. The programme includes an evening drinks reception and a three course dinner at a local restaurant, offering a fantastic networking opportunity. * Please note that the dates for the second half of the year are still to be confirmed

Want to know more? For more information on how to book onto any of these courses, please visit www.iod.com/westmids/ courses Or call Calum on 0121 643 7801

News

No time to see your local GP? High-quality healthcare in the heart of Birmingham For many, the daily commute into Birmingham city centre means that a GP appointment in your home town is completely out of the question. Especially when it comes to those little niggles, rather than needing urgent help. You can’t justify taking time out of your hectic schedule for something that could be nothing. By the time you’ve waited to see the doctor, and then made the commute into the office, you may as well have taken the day off! Here at BHSF, we understand that your time is precious. Our medical practice is the perfect solution for time-poor professionals in Birmingham’s city centre. Located just around the corner from Snow Hill station, at 2 Cornwall Street, you can leave your desk and be back to work in no time at all. We offer same-day GP appointments, as well as physiotherapy, executive health screening, mental health services and a travel clinic. In an age where health is our top priority, but time constraints make seeing your local GP difficult, our medical practice makes looking after your health convenient. Whether it’s for something that’s been playing on your mind, if you want a second opinion, or you just need to get a private prescription; BHSF Medical Practice is just around the corner. “Our practice is in the heart of Birmingham’s Colmore business district.

“At BHSF, we understand that your time is precious. Our medical practice is the perfect solution for timepoor professionals in Birmingham’s city centre...”

Its convenience means that there’s no excuse for not booking an appointment for an issue that’s been playing on your mind,” says Dr Philip McCrea, practice manager. “We offer peace of mind, convenience, and a relaxing GP experience at an affordable price.” BHSF also offers corporate packages, where companies can purchase advance appointments for their employees, either

on a rolling contractual basis, or ad-hoc. With wellness promotion at the top of most business agendas, offering your people access to our quality healthcare services is a great employee benefit. If you would like to make an appointment, or find out more about our range of services, please visit our website www.bhsfmedicalpractice.co.uk or call 0121 728 8366

IoD West Midlands Director of the Year Awards 2019 Date: Tuesday, 11 June Time: 07:30 – 10:00 Venue: Edgbaston Stadium, Edgbaston Rd, Birmingham B5 7QU Cost: £40+VAT members and non-members; £400+VAT table of 10 The 2019 Director of the Year Awards celebrate the hard work and enterprise of our region’s business leaders, with the awards announced at a sparkling Champagne breakfast. Enter or nominate a candidate for this year’s awards now – and make a date to attend the awards event itself. See page 14 for more details. Tickets available via www.iod.com/westmids

Key dates

Nominate and Enter now. Closing date for entries: March 1. Awards day: Tuesday, June 11, 2019

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Cure Leukaemia says ‘on your bike... we’re going to Paris’ Cure Leukaemia, one of the charities featured in our popular Charity Spotlight (see pg 30 for this issue’s) has asked IoD members to back its biggest fundraising venture for 2019, an exhilarating, epic and rewarding London 2 Paris bike ride from 12-15 September 2019. The charity is looking for IoD members to join them for what it describes as the best four days you can have on a bike, anywhere, anytime. Whether you are a keen cyclist or a beginner looking for a new challenge, Cure Leukaemia will make sure you have the time of your life. Every aspect of the ride is planned with precision – from accommodation, meals and transport to the allimportant team of mechanics, motorcycle outriders and sports physios in support.

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This is one of the ONLY events that offer rolling road closures throughout France. Not only does this help ensure your safety but it also gives you the freedom to test yourself with time trials and timed hill climbs to find out where you rank against the rest of the riders. It also means that your ride is not hindered by traffic lights, junctions or traffic! With a full support team, thrilling time trials, challenging climbs and a five-star finale as you ride under escort up to the Arc de Triomphe and then on to the Eiffel Tower with crowds cheering you on, London 2 Paris will be an unforgettable experience. This might sound like an event only fit for cycling’s elite, but with four different speed groups, this is something

a beginner can achieve – with a little training of course! The oldest rider in 2018 was Gio aged 77. He’s pictured above with leukaemia survivor, former footballer Geoff Thomas. Want to know more? Visit www.l2prevolution.com to learn more If you might be interested becoming a sponsor of the event, from as little as £1,000, please contact James Mclaughlin at james@cureleukaemia.co.uk

Charity spotlight: QEST and the Jewellery Quarter

QEST is helping keep our craftsmanship hub alive The origins of Birmingham’s Jewellery Quarter date back to the 17th century and at its peak, in the early 1900s, the area employed over 30,000 people. Since then, however, foreign competition and mechanisation has caused a steady decline in trade. Nevertheless, the few hundred artisans who remain in the Jewellery Quarter still represent Europe’s largest concentration of skilled jewellers, and 40 per cent of all UK jewellery is made in just one square kilometre of inner-city Birmingham. From watchmakers to tool makers and chain makers, to jewellers, enamellers and pen makers, the Jewellery Quarter’s community of artisans is a key part of both Birmingham’s and Britain’s culture, heritage and skill base. However, in recent years the area has been rapidly transformed and gentrified and with property prices continuing to rise, developers are making higher and higher offers to snap up the remaining workshops and turn them into new residential blocks. Struthers is a small but ground-breaking and award-winning watchmakers which has recently started to create its own movement. Run by Craig and Rebecca Struthers, the business is based at the workshop once used by James Watt to perfect his steam engines. Craig Struthers has become one of only a handful of British watchmakers able to make a movement and a watch case from scratch, thanks in part to help from the Queen Elizabeth Scholarship Trust (QEST) – a leading British crafts charity. “QEST has helped me to develop my skills and therefore the business as a whole. Hopefully, we have an exciting future ahead of us, but for many other people working in the Jewellery Quarter, life is pretty tough. “I know company owners who bought their workshops 20 or 30 years ago for a few thousand pounds who are now up against intense competition from the Far East. When a property developer knocks on their door and offers a six or seven figure sum to sell up, I can’t blame them for jumping at the opportunity.” Rebecca Struthers – the first watchmaker to obtain a PhD in horology – says, “The Jewellery Quarter is now predominantly made up of sole traders and micro companies. With higher property prices, it has become increasingly tempting for those craftspeople to move out of the

The famous clock tower in the heart of the Jewellery Quarter

Jewellery Quarter and work from a garage or back bedroom. “The skills of the Jewellery Quarter have become increasingly scattered, creating a real conflict between business viability and value that needs to be addressed. “The Jewellery Quarter is one of the last manufacturing strongholds in Britain and I believe that many of the workshops here could be doing a lot better than they are. We need to decide how much we value these endangered skills and whether they are worth protecting. Do we value the intangible cultural heritage of traditional manufacturing in Britain more than we value a quick profit? “It is also about keeping the interdependent web of skills here alive. For example, as watchmakers, it is hugely helpful for us to have an engraver, enameller and stone-setter within easy reach.’’ Fortunately, the community of artisans in the Jewellery Quarter is close-knit and tenacious and it has at least a few useful supporters. Deakin & Francis – the oldest family jewellers in the country – was set up in the Jewellery Quarter in 1786 and it still makes its cufflinks, rings and other jewellery in Birmingham today. It also rents some of its workshops out to smaller businesses, such as Struthers, and the pen maker Yard-O-Led. James Deakin and his brother, Henry, are the seventh generation running the business, and they steadfastly turn down offers from property developers

on an almost weekly basis, choosing to protect British craftsmanship rather than take a profit. QEST is another ally of craftsmanship; the charity aims to help talented artisans across the UK achieve excellence by granting scholarships that can pay for educational courses and one-to-one training with acknowledged masters in a particular field. QEST is proud of the fact that more than 90 per cent of all the craftspeople it has helped since 1990 are still practising their craft. Many of those people employ apprentices and other staff and, collectively, they make a significant contribution to the UK economy. Deborah Pocock, executive director of QEST, says, “QEST aims to sustain Britain’s cultural heritage by supporting excellence in British craftsmanship and one of the most important hubs of craft skills in the country is Birmingham’s Jewellery Quarter. Many of the skills within its artisan community complement one another, so their combined value is much greater than the sum of their parts. “Of the 460 talented craftspeople who have received a QEST Scholarship, those who work in the Jewellery Quarter include the watchmaker Craig Struthers and the jeweller and sculptor Anna Lorenz. By allowing them to develop their skills and build a sustainable business, QEST hopes to play its part in maintaining the Jewellery Quarter’s unique pool of talent.’’