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Time to quit the day job? Discover what it takes to turn your idea into cash...
PRINCIPAL SPONSORS
SUPPORTED BY
BENTLEY CHELTENHAM
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000 Entrepreneurs Foreword March 13:Layout 1
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Welcome With a word from our guest author Professor Andrew Burke, Director of the Bettany Centre for Entrepreneurship at Cranfield Whether you delve into business school research or scan the press, you will find a consistent picture of what defines entrepreneurship. Entrepreneurs exploit new opportunities and in order to do so they challenge the norm, they are innovative and they take risks. They often revolutionise industries overturning long established technologies, business models and dominant firms. So in terms of entrepreneurial performance, there is a widely held view that the objective is to be more entrepreneurial than anyone else. As a result, budding entrepreneurs feel compelled to look for a breakthrough ‘big idea’. Images of light bulbs and figures shrieking ‘Eureka’ frequently appear on marketing material aimed at entrepreneurs. Among the plethora of management texts and “I did it my way, so can you” books for entrepreneurs, they are encouraged to be highly innovative and to do things differently – after all, doesn’t competitive advantage require differentiation from competitors? They are told to be ambitious and to have the courage to take on the associated financial and career risks. One Government quango for entrepreneurship even argued that British entrepreneurs do not take enough risks. While this picture gives a reasonably accurate account of the actions of a
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typical entrepreneur, it is misleading if you are interested in the ingredients of successful entrepreneurial strategy. As we know, most entrepreneurs are unsuccessful. Typically, more than half of business start-ups fail between four to five years after start-up. Of those that survive only a small minority, around 4%, become successful (whereby the owner is demonstrably more affluent than they would have been in employment). One of the aspects that distinguish these entrepreneurs from the rest is their approach to strategy. So what makes a successful entrepreneur’s approach to strategy different? There are two distinct features. Firstly, usually unknowingly, entrepreneurs embrace rather than reject corporate strategy. Successful entrepreneurs alter archetypal entrepreneurial strategies in a manner that is akin to a conscious attempt to accommodate some of the winning ingredients of corporate strategy. Secondly, successful entrepreneurs will often trade off or tone down the archetypal brash entrepreneurial behaviour for a more civilised version. The outcome is an entrepreneurial strategy that is a winning formula for entrepreneurs and entrepreneurial corporations alike. CS For further information contact the author at andrew.burke@cranfield.ac.uk
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000 Entrepreneurs Top 24 March 13:Layout 1
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SUPPORTED BY
CHARLIE BELDAM
ALAN BERESFORD
DARRELL BLAKE
Director, Cotswold Gold
CEO, Omega Resource Group Ltd
Director, Blushes Hairdressing
When did you establish your company? Cotswold Gold was established after I left University in 2010.
When did you establish your company? Two other founders and I (James Strickland and Raymond Pugh) started our business on the 28th March 1998.
When did you establish your company? 25 years ago, with a continued successful partnership with my brother Mark . We opened our first salon in Gloucester and we are now operating three salons in Gloucester, Cheltenham and Cirencester. We see around 2000 clients a week between all three salons.
What inspired you to do it? Cotswold Gold was formed out of a piece of coursework in my final year. I wanted to add value to a crop that we already grow on the farm, without changing the everyday farming practice. What were you doing before? Before I set up Cotswold Gold I was studying at the Royal Agricultural College on an Agricultural Land Management Course. During the breaks between terms I worked on the farm at home in the summer and was a ski instructor in the winter months. What was your age when the company was founded? 22 What was your initial investment? Cotswold Gold was set up at first by sending home grown rapeseed oil to be contract pressed. By doing this Cotswold Gold managed to keep the overheads low whilst bring money from sales in to help to cover the costs of installing the machinery. All the building work was done in our spare time to again cut costs. This made the initial investment £40,000. What do you believe it takes to be an entrepreneur? I believe you have to be flexible to change and the most important thing is to have passion for what you are selling. Is it for everyone? NO! The highs are higher, the lows are lower and that is not for everyone. The responsibility and risk of going it alone are huge but if you can make it pay off then the reward feels amazing. What is the best piece of advice that you were ever given? This may sounds very silly but the best bit of advice I was given was someone saying, "it will not work, give up... you are trying to make a vegetable oil." At this point I had to make sure it would… just to prove them wrong. Did you ever take “no” as an answer? This is not a sob story but being very dyslexic at school and not being expected to get through GCSEs I was brought up having to prove people wrong. This I believe put me in good stead for running my own business and not taking no for an answer. There is always a way of turning a no in to a yes if you are positive and passionate enough not to give up.
What inspired you to do it? A desire to be self-employed, and hopefully grow a really successful company. What were you doing before? Myself and Ray were doing technical recruitment and James was a Sales Manager for Budweiser. What was your age when the company was founded? I was 23, James 25 and Ray 26. Do you wish that you had taken the plunge sooner? No, it was early enough and we were still very young. What was your initial investment? Very small as it was the bank's. We were turned down by five banks due to our age, before finally being approved by the sixth bank we presented to. The current number of full time employees with your company? 100+ What do you believe it takes to be an entrepreneur? Zest, ideas, determination, patience, maturity, enthusiasm, and an ability to cope with worry, enabling you to find clarity or self-belief even in the most difficult of times. Also, if you don't know something, don't be afraid to ask, depending on the audience! Is it for everyone? No, not all. That's no bad thing either, but it wouldn't suit many characters. Also, if there are several founders it takes a special chemistry and mix of skills for the partnership to survive. What is the best piece of advice that you were ever given? From my dad, 'If you're not being successful or earning enough money, don't blame the company, you've only got yourself to blame'. Did you ever take "no" as an answer? Yes, but never the first 'no!', and 'no's' won't always be 'no's' forever
And finally… what are your 3 secrets to success:
And finally… what are your 3 secrets to success:
1. Passion 2. Family support 3. The Brand Cotswold Gold
I'll let you know when we consider ourselves successful… But, along the way be yourself and try as hard as you can.
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What inspired you to do it? I was working in London and it was a mutual ‘now or never’ decision for us both really. What were you doing before? I was working at Vidal Sassoon in London and learning my craft. What was your age when the company was founded? I was 26. What was your initial investment? It was £7,000. No bank would lend us the money and so we actually borrowed from our mother. She became a partner in the business until the loan was repaid to her. What do you believe it takes to be an entrepreneur? Having your own vision. We always knew what it was that we wanted to achieve and didn’t ever want to sacrifice quality. You have to be prepared to put the hours in and always remain true to your vision. Is it for everyone? No, I don’t believe that it is. There is absolutely nothing wrong with being a 9-5 kind of person, but as an entrepreneur you just can’t be! What is the best piece of advice that you were ever given? Generally, in business, nothing happens by accident, you have to make it happen.
And finally… what are your 3 secrets to success: 1. Be prepared to take risks 2. The ability to stand in your client’s shoes and see things from their point of view 3. Don’t surround yourself with negative people
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NICK BROADY
JOHN CAINES
FRED CAIRNS PALMER
MD, Avenue Cars of Gloucester Limited and Gloucester Coatings
Talking about Maxima and now Director and Founder, Angels4Angels
MD, WaterCoolersDirect.com
When did you establish your company? Avenue Cars in 1988 / Gloucester Coatings 2010
When did you establish your company? First established Maxima in 1975, aged 26.
What inspired you to do it? Gloucester Coatings – recognising the potential in a failed business that was based in one of my properties. Avenue Cars – Being able to do the job better than the companies I was working for, and doing it for myself and my team. What were you doing before? Managing four garages for a local businessman. What was your age when the company was founded? 26 Do you wish that you had taken the plunge sooner? No as I needed the experience to direct my own company. What was your initial investment? My house, lots of personal guarantees, and all of my spare cash. The current number of full time employees with your company? Full time 20 What do you believe it takes to be an entrepreneur? Drive, initiative, being prepared to take a risk. working 24 hours a day, 7 days a week, and being a ‘people’ person Is it for everyone? Not really, as you sacrifice a lot. It is dependent on your drive What is the best piece of advice that you were ever given? Never fall out with anyone, as you may need their help in the future. How do you contribute to the community? • Vice chairman and trustee of the Pied Piper appeal and Cloud 9 • President of Brickhampton Golf Club. • Head up the Sports action group for the Honourable Company of Gloucestershire
What inspired you to do it? The emergence of low cost computers that could actually help business. What were you doing before? Previously Financial Director of Westbury Homes. Glad I did NOT start earlier because about seven years of working life as an accountant and then as an FD gave me insights into business management without which I would not have had the knowledge and credibility to run my independent business. What was your initial investment? No initial financial investment – just ‘sweat’ and effort. The current number of full time employees with your company? From that start up we grew to over 500 staff across eight countries by the time I sold most of my shares to the management team in 2001 and left the business. Since then, I have acted as coach and investor to early stage enterprises. What do you believe it takes to be an entrepreneur? Entrepreneurs need to be self reliant, resilient and persistent , they are probably ‘misfits’ as employees. Definitely not for those who need security and don’t like change.
When did you establish your company? The company was established in 2004 and we operated from a sofa in a loft, at my house in Dursley. We have come a long way since then and now operate from our prestigious offices on Gloucester Business Park. In those relatively short 8 years we have quickly grown to become the most successful online water cooler companies in the UK. What age were you? I started WCD at the age of 37. What was the initial investment? £25,000 and a lot of sweat! Current number of full time employees? 25 people and a great network of engineers, installers and distributors. What do you believe it takes to be an entrepreneur? Listen to your customers; they are the best source of ideas and inspiration for me. Always be different and make yourself stand out (for all the right reasons of course). Never stand still… work hard and innovate. Deliver the edge at all times. A positive can-do attitude is probably the most crucial trait as there are lots of challenges, particularly when starting up and even today during these tough economic times. Is it for everyone? No, I think you have to be a certain type of person to maintain the level of drive required. It’s important to have that ambition but also to be able to sustain that energy and ignite it in the people around you. What is the best piece of advice you were given? My mentor and good friend, MD at Encyclopedia Britannica said to me “If you want to sell what John Jones buys then first you must look through John Jones’ eyes.” I have never forgotten this and it still rings true for me today.
Did you ever take “no” as an answer? Without accepting defeat easily, it’s smart to know ‘no’ for an answer when it shows you don’t have your proposition right – but come back to the same customer or objective with a new and improved offer; that’s resilience.
Did you ever take “no” as an answer? No is the very short answer to that! Hannibal Barca was one of the great leaders of all time. When crossing the Alps he is believed to have said: ‘We will either find a way, or make one’. I love this quote.
And finally… what are your 3 secrets to success:
And finally… what are your 3 secrets to success:
And finally… what are your 3 secrets to success:
1. Knowledge of your industry 2. The drive to succeed 3. As much luck as possible deliver that ‘little bit more’. Happy customers bring in new customers.
1. Put yourself to see as customer does
1. To listen and understand what your customer wants and deliver what you promise. 2. Never stand still, innovate and be different from all the rest out there. 3. You are only as good as your team.
Did you ever take “no” as an answer? No!
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2. Work only with colleagues who are fully capable and fully aligned with you 3. Deal with problems promptly
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SUPPORTED BY
DARCEY CROWNSHAW
GEORGE DAVIES
KATIE DOBSON
MD, Snow Business International Ltd
Fashion designer and Retailer
MD, The Cutlery Commission
When did you establish your company? 1983. What inspired you to do it? A phone call. The company I worked for wasn’t interested in the potential order because it was too small. What were you doing before? Working as a manager at a company that supplied paper based products. What was your age when the company was founded? 29 Do you wish that you had taken the plunge sooner? I had my ‘first business’ at the age of 11 collecting and returning bottles and jam jars, then progressed to carrying buckets of coal up from cellars for old ladies, cutting front hedges and washing cars, progressing again to photography before ‘giving up’ at the age of 25 to get a real job. What was your initial investment? £300 borrowed from a bank, I stayed with that manager as he was moved from branch to branch until he retired. The current number of full time employees with your company? 30 at the Snow Mill but we account for many more jobs at our overseas branches and at the companies who now manufacture for us. What do you believe it takes to be an entrepreneur? A desire to do things your own way, the ability to take responsibility for failures and a respect for (but not an aversion to) risk – not to mention being into what you do to a degree where it is your job, hobby, holiday and weekend pastime.. Is it for everyone? No What is the best piece of advice that you were ever given? Invest in equipment - it just keeps paying back. Give good friendly service at a fair price – it is better to earn £10 a year for 20 years, than £100 for just one year. How do you contribute to the community? By giving people a place to work, paying taxes, giving work experience opportunities, buying locally where possible, contributing to selected local causes. Did you ever take “no” as an answer? Understanding what the no means is
When did you establish your company? I was 28.
When did you establish your company? February 2012
And finally… what are your 3 secrets to success: 1. My work is my hobby so instead of playing computer games, I play ‘Snow Business’, and just like computer games, when you succeed at one level, you move up to the next level. 2. Failure is never anyone else’s fault, if failure occurs – learn from it and try again. 3. Being fair but determined. People like doing business with people who charge a fair rate and deliver what they promise – or even deliver that ‘little bit more’. Happy customers bring in new customers.
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What inspired you to do it? I was working on a project based around school wear and thought there was a huge gap in the market. I was approached by Hepworth who sought my expertise in ladies wear. I travelled around 20/30 different towns to seek a national gap and found one laying between M&S and Jaeger… this was the birth of Next. From here I established the mail order business and saw a gap in the market for out of town fashion supply and so set up George at Asda. What was your initial investment? The only time I ever went to a bank in my life to borrow money was for my first business and I have never borrowed from a bank since. I like to control my own funding. What do you believe it takes to be an entrepreneur? You become very driven and in other words you have to do something. You have to have the vision to see things ahead of everyone else, especially in fashion, and team this with extensive research. I don’t rely on a marketing team to give me the information, I visit my staff in person and believe that is the key to success. Remain visible and I make sure that everybody calls me George, never Mr Davies! What is the best piece of advice that you were ever given? You never crack it. You have successful periods, but what about tomorrow? Think ahead. Never become complacent. Did you ever take “no” as an answer? No! I have never taken no as answer and I suppose that what I’m good at is detail.
And finally… what are your 3 secrets to success: 1. Determination 2. Detail 3. Vision
What inspired you to do it? I was already making cutlery 'for fun' and getting such good feedback that I decided to leave my job and start a business What were you doing before? I worked part time as a receptionist. What was your age when the company was founded? 30 Do you wish that you had taken the plunge sooner? Nope. I didn't have the confidence or knowledge What was your initial investment? Nothing. I had the tools and bought vintage cutlery from car boot sales. The current number of full time employees with your company? I have 4 'Spoonettes'! What do you believe it takes to be an entrepreneur? Passion. If you don't love what you do then you won't succeed. It's not enough to be driven by money- you need to wake up everyday with a spring in your step and love every second Is it for everyone? I think it is! If you have an idea, and you believe you can do it then anything is possible. I really do believe that What is the best piece of advice that you were ever given? "Never get so busy making a living that you forget to make a life". It is so easy to become consumed by your new enterprise but it is important to find a healthy work balance. Did you ever take “no” as an answer? Oh yes! When I started out I found everything quite intimidating and took bad advice from people I trusted at the time. There were many things I wanted to do and was often told 'no'. Things have changed now though and business is booming!
And finally… what are your 3 secrets to success: 1. Surround yourself with people who are passionate about the business 2. Never get complacent and constantly strive for better 3. Accept that you can't do everything and invest in experienced people to help you
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DEBRA DREW
SARAH FENWICK
MD, Fabric Architecture
MD, Energist UK
When did you establish your company? October 2000
When did you establish your company? In 2006, in partnership with my father.
What inspired you to do it? After a successful career working for large organisations, I wanted to take all I had learned and do my own thing What were you doing before? Business Development roles for very large companies, at executive level reporting to The CEO. What was your age when the company was founded? 45 years old. Do you wish that you had taken the plunge sooner? Yes, I do. I was always a very entrepreneurial thinking employee… committed to proving my value to the organisation and willing to take risks. What was your initial investment? £80,000 and 80 hours a week! The current number of full time employees with your company? 16 Is it for everyone? It is for more people than realise it. Our current generation are proving how incredibly rewarding it is to go your own way. I am amazed at the stories I read every day of creative ideas and brilliant opportunities people are creating for themselves. What is the best piece of advice that you were ever given? My mantra is a quote by Ralph Waldo Emerson, "Nothing great was ever achieved without enthusiasm". How do you contribute to the community? I have set up a Charity for the work my husband and I undertake in Africa, for women and education as well as digging wells.
Managing Partners, Expectations Recruitment
What inspired you to do it? We were building and so owned a small construction company and I still remember the day that we made the decision to set up Energist UK. My father read an article in one of the industry news bulletins and it talked about our particular area of regulations coming in. The conversation happened around the fact that we were going to be affected by that as builders and so Energist UK was born. My father is rather entrepreneurial; he is 74 now and has only ever worked for himself.
When did you establish your company? April 2003
What were you doing before? My background was in sales and marketing.
What was your age when the company was founded? I was 54 and Victoria was 29.
What was your age when the company was founded? 35 What was your initial investment? Around £15000 and we now operate with a team of 42. Our target for this year is £2million. How do you contribute to the community? We raised nearly £4000 for charity last year and we do something everything month so charity is quite a focus for us and we are obsessed with dressing up. I feel our place as a business is about building profit, growing, providing employment and careers. We are ethical and do what we should do but I don’t pretend to be out there saving the world.
Did you ever take “no” as an answer? Once I have thrown my hat over the wall…no is not an option!
Did you ever take “no” as an answer? Yeah I think so, being honest I probably did. But then you just get around it. Well, I do. Sometimes it’s internally and you have to overcome your own barriers.
And finally… what are your 3 secrets to success:
And finally… what are your 3 secrets to success:
1. Determination 2. Fearlessness 3. Enthusiasm
1. Celebrate your successes 2. Fix your focus 3. Get on and do it!
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JO LONG & VICTORIA MADDOCK
What inspired you to do it? We had worked together in business for some time. I (Jo) was a founding Director of Office Angels and Victoria had managed a small string of agencies. Victoria asked me to be a mentor to her and Jo said only if she could be a partner in the new company!
What do you believe it takes to be an entrepreneur? Spirit. This trickles through the organisation. We encourage people to be their own boss within the company. In a small company, passion is so important and people need to feel valued. You can’t be a wimp. What is the best piece of advice you were ever given? From my father, ‘ There is no such word as can’t’. Did you ever take “no” as an answer? We don’t believe in saying never! The worse thing it to get a rejection and to let it show. Always keep hold of your dignity.
And finally… what are your 3 secrets to success: 1. Be passionate about what you do 2. Never lose sight of what your aims and objectives are 3. Never underestimate the competition
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SUPPORTED BY
CHARLES MARTELL
SIR DAVID MCMURTRY
MIKE MELLOR
MD, Charles Martell & Son Ltd
Chairman and Chief Executive, Renishaw plc
MD, Space Catering
When did you establish your company? 1972 What inspired you to do it? The Old Gloucester breed of cow was almost extinct and I wanted to help ensure its survival by putting it back to what it does best which is to produce milk for making Double and Single Gloucester cheese. What were you doing before? I was at Cardiff University and a warden at the Wildfowl and Wetlands Trust, Slimbridge. What was your age when the company was founded? 26 Do you wish that you had taken the plunge sooner? No, would have been too young. What was your initial investment? About £500 for 3 Gloucester cows and a bull. £100 for a collection of slightly rusty vintage cheesemaking equipment. The current number of full time employees with your company? 5 What do you believe it takes to be an entrepreneur? I've never thought of myself as an entrepreneur but I do believe that I'm driven by what I love doing, but guided by my head. Is it for everyone? No What is the best piece of advice that you were ever given? My dear late grandmother told me once: 'Just be true to yourself.' As useful to me as a guide in business as well as in life.
When did you establish your company? April 4th 1973 (we are 40 this year!) What inspired you to do it? Whilst working at Rolls-Royce I invented a product that solved a major measurement problem faced by manufacturers worldwide and for which there was therefore significant potential. What were you doing before? I was Deputy Chief of Engine Design at Rolls-Royce in Filton (I didn’t leave to work full-time with Renishaw until 1979) What was your age when the company was founded? 33 What was your initial investment? John Deer (co-founder) and myself invested from our own personal funds. The current number of full time employees with your company? Just over 3,000 worldwide, of which 1,750 are in Gloucestershire. What do you believe it takes to be an entrepreneur? A belief in your own abilities, not following convention, and surrounding yourself with a team people who add additional skills that complement your own strengths Is it for everyone? If you have an original patentable idea, are prepared to work very hard, seek out sources of business advice, but be prepared for the inevitable set-backs then you have a chance of success; and you’ll also need a little luck at times. What is the best piece of advice that you were ever given? “Don’t give up”! How do you contribute to the community? We set up a charities committee 30 years ago run by employee representatives that distributes funds from the company; we have strong links with schools and we also support many regional festivals and sporting activities through sponsorship.
When did you establish your company? May 2000 What inspired you to do it? The company I was with was bought and I found myself still in the industry but as MD of a company that was very focused on catering equipment hire and less interested in designing and supplying turnkey projects. We had a chat and a deal was done for me to form a new company and take over that part of the business. I had always wanted to have my own business eventually and it was a perfect opportunity. What was your age when the company was founded? 33 Do you wish that you had taken the plunge sooner? No, I had a great 'apprenticeship' working for two guys who remain close friends to this day. They gave me the start I needed and I learned a massive amount from both of them. What was your initial investment? I borrowed £150,000 to get it started and give us a bit of working capital. The biggest commitment was taking over contracts for vehicles and taking on existing staff. The current number of full time employees with your company? 31 What do you believe it takes to be an entrepreneur? Lots of ingredients; you have to want to do it and lots of people don't, you can't be too risk averse, being a good communicator is really important and you need to be decisive, staff, customers, and suppliers all hate it if you can't make your mind up, it creates a lot of doubt. Is it for everyone? Definitely not but for every good entrepreneur there are dozens of really talented people backing them up who just don't have the appetite for the owners role and the entrepreneur would be lost without them.
Did you ever take “no” as an answer? Not easily!
Did you ever take "no" as an answer? About 100 times a week from my teenage daughters, and yes, occasionally at work!
And finally… what are your 3 secrets to success:
And finally… what are your 3 secrets to success:
And finally… what are your 3 secrets to success:
1. Work hard. 2. Be driven by your ambition but guided by your brain. 3. Never give up.
1. Strong patents. 2. An idea that can be developed and funded out of your own resources. 3. Finding a strong complementary partner.
1. Work hard and be seen to lead from the front. 2. Communicate really well at all levels. 3. Keep a very close eye on the margin.
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CAMILLA MILES
ROB REES
JESSICA SAINSBURY
MD, Corinium Care
Director, The Cotswold Chef
MD, Cowley Manor
When did you establish your company? 1995
When did you establish your company? We first set up here in The Cotswolds in 1994 and have adapated and changed a great deal since, now solely working as a not for profit organisation.
When did you establish your company? In 2002 when we opened Cowley Manor.
What inspired you to do it? I was running a nanny agency, and my clients started asking me if I could find a carer for their parents as well as a nanny for their children. I sold the nanny agency when the live-in care agency took off. What was your age when the company was founded? 33 Do you wish that you had taken the plunge sooner? It was the perfect time to start a business: I’d just moved to the Cotswolds for family reasons and wanted to start my own business that would be both a challenge and a success. What was your initial investment? £50 for stationery, bags of energy and tons of enthusiasm. The current number of full time employees with your company? Corinium Care has 17 staff at our head office in Nailsworth, and more than 800 registered carers. We also have staff in New Zealand and Zimbabwe. What do you believe it takes to be an entrepreneur? A willingness to take risks, and the ability to listen. Also recognising your own strengths and weaknesses so you can fill the gaps in your expertise by bringing the right people on board to help. Is it for everyone? Being in charge is not for everyone – thank goodness. But what every entrepreneur needs is a great right-hand person – someone with good judgment who will act as a sounding board and a calming influence. What is the best piece of advice that you were ever given? Be brave and listen to your instincts. Did you ever take “no” as an answer? Not often, but I’m always prepared to listen.
And finally… what are your 3 secrets to success: 1. Insisting on high standards 2. Putting the personal touch at the heart of all we do 3. Taking time to get the best out of the people who work for you because they are the real key to success.
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What inspired you to do it? It’s about freedom and delivering your wish list of activity. It’s certainly hard work and requires dedication but there is no easy job out there so working hard for yourself feels more comfortable. What were you doing before? I was inspired by great foodies doing great things as a young chef working in first class eateries around the globe from London to Bath, to the Cayman Islands. What was your age when the company was founded? I was 22 years of age. Do you wish that you had taken the plunge sooner? No I wasn’t ready. I’ve learned so much in the last 20 or so years about money, strategy, vision, customers and staff . What was your initial investment? Mine originally was time and knowledge – I had a backer! The current number of full time employees with your company? 8 currently and then as Chairman of another organisation I have just over 70 staff. What do you believe it takes to be an entrepreneur? Belief in product, knowledge of your customer, clear strategy and a huge amount of evidence based risk taking. What is the best piece of advice that you were ever given? Be nice to everyone on the way up as you never know who you may need on the way down. Did you ever take “no” as an answer? Yes. Admitting you are wrong is important. Being honest with yourself and others is a must.
And finally… what are your 3 secrets to success: 1. Great family support and trust 2. Stunningly dedicated staff who share your vision 3. Try and do as much as possible without the bank’s money
What inspired you to do it? Before we had children, my husband Peter and I spent quite some time travelling together and were always amazed how many hotels did things we didn’t like. That’s when we decided to search for our own hotel and we found Cowley Manor. We knew we wanted to be in the Cotswolds and fell in love instantly when we saw this wonderful house in a magical hidden valley with a series of lakes set in gorgeous grounds. It was a labour of love that took us 3 years to transform before we opened in 2002. What do you believe it takes to be an entrepreneur? Passion, courage of conviction and an unrelenting eye for detail. Is it for everyone? Absolutely not, it takes perseverance and resolute tenacity. You have to be able to deal with the unexpected and stay true to your original vision. How do you contribute to the community? All of our hotels are deeply rooted within the local communities in which they are based. We also personally support a number of charitable causes. Giving backing and helping to improve has always been important to us.
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SUPPORTED BY
DENNYS SHORTT Chairman & CEO, DCS Europe plc
MEREDITHE STUART-SMITH
EMMA SUMMERS MD, Juice Recruitment
MD, Meri Meri When did you establish your company? In 1994 in a stable block at my farm near Broadway. What inspired you to do it? I wanted to be my own boss. What were you doing before? I was working for my father but wanted a change of direction. What was your age when the company was founded? 29yrs Do you wish that you had taken the plunge sooner? Yes but doing a job and learning skills for 10 years was good for me. What was your initial investment? My house! I persuaded the bank to lend me money against my house as security and used Invoice Factoring. The current number of full time employees with your company? 313 employees – 283 in DCS and 30 in Enable Software. What do you believe it takes to be an entrepreneur? Passion, energy and good planning. Is it for everyone? No – only for those with true passion and a strong composition. What is the best piece of advice that you were ever given? What you believe... you create. How do you contribute to the community? We sponsor several sports clubs and I am Strategic Director of a football club. We support the local hospice, the air ambulance and MacMillan. I help in education with local schools and am on the Board of Warwick Business School. Did you ever take “no” as an answer? I remind myself for every 10 people that say no – there are 90 that will say yes.
And finally… what are your 3 secrets to success: 1. Be passionate about what you do. If you are not passionate about your job then leave and try something else. 2. Be energetic. All entrepreneurs work very hard - 6am start and 8pm home. Even after 20 years I am still doing that. 3. Learn to plan strategically. I use the Harvard Balanced Scorecard method - see www.mystrategyplan.com
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When did you establish your company? In 1985 What inspired you to do it? I have always loved making things and selling them. What were you doing before? I was involved in museum programs. What was your age when the company was founded? 27 What was your initial investment? My family gave me about £50,000. The current number of full time employees with your company? 65 What do you believe it takes to be an entrepreneur? No pride, patience and flexibility What is the best piece of advice that you were ever given? Don't throw good money after bad. How do you contribute to the community? I am a patron of Cheltenham Festivals. Meri Meri has a very strong GSCE week long intern program. We teach students the basics of product design. The students move through the studio working with designers, art workers, photographers and our web team. Did you ever take “no” as an answer? What does no mean???
When did you establish your company? Juice was established in May 1998 so we are 15 years old this year. What inspired you to do it? I used to walk past the employment agencies during my lunch break and felt that as good as they were, the industry was dated. I wanted to create an environment that was dynamic, innovative, fun, and enthusiastic. What were you doing before? Prior to establishing Juice, I worked for Deloittes where I was responsible for Search & Selection in the South West. I recruited FD’s, MD’s and CEO’s for Deloittes clients. What was your age when the company was founded? I was 26 – gosh I am giving my age away now! Do you wish that you had taken the plunge sooner? No not at all – looking back now – it was perfect – I was young and hungry and I am still very ambitious today! What was your initial investment? £7,000 from selling my car - I had no bank loans or overdrafts and never have. What do you believe it takes to be an entrepreneur? Passion, hunger and determination to be the best at what you do. Is it for everyone? It depends on you as an individual. If you love what you do, whatever it is, you can be successful. You do however need to sleep, eat and breathe it – you never switch off! What is the best piece of advice that you were ever given? Be positive and determined – even during hard times – positivity and determination will stand you in great stand. Did you ever take “no” as an answer? No – never! There is always a way!
And finally… what are your 3 secrets to success:
And finally… what are your 3 secrets to success:
1. Know your market place 2. Careful of your costs and overhead 3. Value the people in your company.
1. Planning 2. Hunger and determination 3. Passion and enthusiasm
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Four common approaches shared by successful entrepreneurs: 1. Solve the last 10% of the innovation problem
EMMA WHITELAW
KAY WILLIAMSON
MD, Chapel Spa
MD, Gravitas PR
Being the best innovator is not the objective. Successful entrepreneurs solve the last 10%, rather than the first 90%, of the innovation problem. The timing or order of an entrepreneur’s innovation is important. Successful entrepreneurs are rarely the first to introduce an innovation to the market. Their contribution is usually marginal compared to the totality of the final innovation. So why then are they successful? The answer is because their marginal contribution to innovation solves the last remaining part of the consumer problem and as a result has a dramatic commercial impact.
When did you establish your company? I brought Chapel Spa from Center Parcs in Jan 2007
When did you establish your company? 1992.
2. Reform rather than revolutionise
What inspired you to do it? I was tired of working hard for someone else! What were you doing before? Spa Manager at Cowley Manor What was your age when the company was founded? I bought the business at the age of 25 Do you wish that you had taken the plunge sooner? No, it was the best time. I had built up invaluable experience and had no family ties or commitments. What was your initial investment? £200k The current number of full time employees with your company? 8 full time but due to nature of business and opening hours, have another 12 more part time.
What inspired you to it? Two firms asked me to manage their PR and the firm was born. What were you doing before? I was in London working on iconic consumer brands and working for HP, Butlins and Whyte & MacKay Whiskey. What was your age when the company was founded? 32. Do you wish that you had taken the plunge sooner? No, the time was right in 1992. What was your initial investment? Nothing. It was self-financing. The current number of full time employees with your company? 7. What do you believe it takes to be an entrepreneur? Bravery, the ability to apply intelligence and to develop a great team.
What do you believe it takes to be an entrepreneur? Belief, Self Motivation and someone who does not quit.
Is it for everyone? It isn’t everyone’s cup of tea but you can be an entrepreneurial employee in the right workplace.
Is it for everyone? It can be! Most of it’s mental - you can learn the practical skills as you go.
What is the best piece of advice that you were ever given? From my Dad who said “you can do anything you set your mind to” or my mentor who said “Know where you are heading – have a clear vision – and accept it may take changes of route to get there”
What is the best piece of advice that you were ever given? Ensure you know your figures and profit and whats in your bank account every day. This will allow you to make the best decisions. How do you contribute to the community? We do numerous charity work each year and I love helping local small businesses to develop too. I have frequent coffee sessions with ladies seeking and needing advice and happy for them to pick my brains. I love seeing other people succeed. Did you ever take "no" as an answer? Only from well respected family members and business role models. Sometimes other people do know best.
How do you contribute to the community? We partner local universities and colleges by helping their students get a realistic picture of careers in PR. Equally we support jointventures and initiatives to support business clusters around health, food science, life sciences and the low carbon economies – sectors that could give the Cotswolds an extra dimension. Did you ever take “no” as an answer? I’m pragmatic, but I like to take the attitude that any problem has a solution so often that’s a NO!
And finally… what are your 3 secrets to success:
And finally… what are your 3 secrets to success:
1. Know that your staff are your most important asset. 2. Always know where your business is at financially - this allows you to make important and sensible decisions for the future. 3. Have great business relationships and willingly do favours for other people.
1. Be self aware or work on being so 2. Hire people who are better that you or who balance out your skills 3. Have a cause you really care about – ours is to improve the quality of life for people and the plant by promoting good health and the environment.
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Revolutionising business rarely requires revolutionary innovative steps. Most successful entrepreneurs are reformers not revolutionaries. Instead of light bulb flashes and shrieks of Eureka, most successful entrepreneurial ventures make modest innovation contributions. If you take a look at the dominant firms in entrepreneurial markets such as the Virgin Group, Innocent, Ryanair and Facebook, you will typically find that successful entrepreneurial ventures did not introduce massive innovation steps. Their innovation is more continuous and built on an existing innovation platform provided by other firms.
3. Agility – being able to change strategy and tactics Successful entrepreneurial creativity is an ongoing process which enables entrepreneurs to change their mind. Business ideas come from having an idea to solve a consumer problem and/or a new application for a technology/innovation. In both cases many other people will have been in the same situation and have had the same thoughts so entrepreneurs can usually bank on similar ventures launching at the same time. Sadly, many promising entrepreneurs waste their time trying to keep their ‘unique idea’ secret when what they should be doing is putting it into action. The reality is that many other ventures will be doing just that with the same idea. Furthermore, successful innovation develops and improves as part of an iterative process that requires putting the idea into practice. In essence, the development and refinement of the basic idea into a fully fledged entrepreneurial strategy emerges through an ‘into action trial and adapt or proceed’ approach.
4. De-risk before taking risk Successful entrepreneurs neither embrace risk nor rely exclusively on courage to take risk. Instead they minimise risk to acceptable levels by using corporate finance strategy. That is not to say that entrepreneurs are experts or even understand corporate finance but they do understand its underlying logic or intuition. They adopt strategies that allow them to hedge and spread risk. For further information contact the author at andrew.burke@cranfield.ac.uk
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ALL THE RIGHT MOVES It’s not too late to apply to university or college this year. Before you get started read these top Dos and Don’ts from Cathy Gilbert, Director of Customer Strategy at UCAS
DO
research your university and degree course choices carefully before applying. For me, that should include going to open days as well as looking at the online information. You’ll spend three or four years studying in higher education, so you should be really passionate about the course content and your chosen place of study.
DO
remember the UCAS application deadlines. UCAS will send applications to universities and colleges up until 30 June. There’s still a good chance of being made an offer, if places are available. Any applications received after 30 June will go into Clearing automatically.
DO
make the most of the help available from UCAS on UCAS.com. Working through our Six steps to applying will make the process much easier. You can also watch videos on UCAStv featuring students who have already started and been through big events like Freshers’ Week. If you have
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a burning question at any stage of the process why not ask our team of experts on Twitter (@ucas_online) and Facebook (/ucasonline)? You’ll get a clear answer back very quickly.
DON’T
forget that some universities and colleges will ask you to sit an admissions test in addition to the standard qualifications. The Admissions tests section of the UCAS website will help you understand some of these.
DON’T
be tempted to submit a copied personal statement or one downloaded from a website. Thankfully, only one percent of applicants did this last year.
UCAS is quite clear that personal statements should be an applicant’s own work, although we do advise that parents and teachers check them over. Our computer system has tens of thousands of personal statements on file and similarities will be flagged up to the universities.
DON’T
panic about tuition fees. There is a wealth of information out there to help you understand the costs of higher education – and remember you won’t have to pay anything upfront. You can visit the Student finance section of our website to find out more, or visit Moneysavingexpert’s Students section. CS
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Inspire their
FUTURE Introducing your teenager to the UCAS Card is a great way to start their higher education journey
Parents who want to discuss the routes to university or college with their children can use the free UCAS Card as a starting point. After signing up, teenagers are sent regular, relevant information about their options, alongside key information on the application journey. The card also provides discounts at a range of stores, both online and in the high street. When young people register for the card at UCAS.com they will be sent a monthly newsletter, concise emails about interesting courses, details on key application dates and the free discount card. Debbie Scott of UCAS Media said: “The UCAS card is the information source for 17-18 year olds wanting to find out about
their next step in education. “The appeal of the discount card scheme is obvious but it is the wealth of inside information and educational benefits that are of most value. Registered students receive great guidance on the UCAS application process, helping them from start to finish.” The information is designed to complement the good advice that they receive in school and can form focal points in ‘next steps’ and UCAS sessions. Students are sent tailored information about courses and individual universities and colleges depending on the choices they make in the UCAS Card registration. Pupils are not bound by their choices at registration either. They can change their criteria at any point throughout their UCAS Card membership, meaning the information sent to them also changes.
It's not too late to apply this year. UCAS will send applications to universities and colleges up until 30 June. Applications received after this date are sent into Clearing automatically.
Email bulletins UCAS Card members will receive monthly email bulletins. These will focus on options other than higher education, reminders about vital UCAS deadlines and guidance about filling in key parts of the application. Secure, official information The UCAS Card does not have its own website - it operates securely within the main UCAS site. This means that there are no security or access issues for schools and colleges. It's a safe, official route to useful, relevant information. How do students register? To register, students need to go to www.ucas.com/ucascard. The UCAS Card scheme is the platform for young people to start looking into higher education and researching their UCAS application.
About UCAS UCAS, the Universities and Colleges Admissions Service, is the UK's shared admissions service for higher education. The charity manages applications from over 600,000 applicants each year for full-time undergraduate courses at over 300 institutions across the UK. CS MARCH 2013
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Who inspires you? We asked the business women who helped to make this supplement happen to name an inspiring entrepreneur of their own... Angie Petkovic, apt marketing & pr
For me, inspiration comes from the people I interact with and those who share the sam e principles and values as me . A particular successful entrepreneur who influence s and inspires me is Richar d Millington, Director of Feverbee and ex- student of Gloucestershire Unive rsity. Richard joined me on pla cement eight years ago and challenged me even then; it’s not usual to mentor a student that asserts their beliefs, but Richard did and made me question and rep osition many of my own business approaches. Since graduating with a First, he has gone on to establish his own incredibly succes sful company with associated training courses, working with clients including The UN , The RSPCA, and BAA. He is a walking, talking exa mple of just how far and well you can succeed if you put your mind to it! Truly inspirational!
, e all-Gibbins Suzanne H of Commerc r e b m a h C hire Gloucesters ast Coast tour of the E
Helen Lovatt, Angels4Angels
I have had the privilege of h meeting and working wit several inspiring entrepreneurs. The one se of the word) who gentleman (in the true sen Dennis Fredjohn MBE. stands out – the late great the early 1990s at Capital I worked with Dennis in ts in supporting early Ventures, which had its roo esses. The Cambridge stage entrepreneurial busin mble roots and a veteran educated Dennis from hu had an ability to engage of the aluminum industry t the best in those and motivate and bring ou n was as something of a around him. His reputatio ble where others didn’t buccaneer willing to gam e values. What did I whilst adhering to his cor rtance of integrity, learn from him? The impo and how to get deals humanity, being genuine big picture… and most done by focusing on the at the same time. importantly to enjoy life
it of a y’s SA doing a b U e th in e Ben & Jerr as w ould visite th In 1994 I sh e . Ben w id d at e th w glad sisted our! But I’m and friends in et d y years later in mething t h an ig m sl as a w t, n it o t u m b er l o V o sch ed to do so factory in at they decid enfield met at th re s G er y re urse in ice rr ca Je r d pondence co Cohen an arts in thei es st rr e ls co fa $5 f a o series ed with scoop shop in 1978, after a together. Arm ey opened their very first ccess and g, th Not a great su sign that t. n cream makin o m er V , a urlington ore and hung downtown B closed the st ing any ey ak th s m th re n e’ o ether w h w t after two m u o re gu d by 1979 osed to fi arned a lot an le said ‘we’re cl ey th t u b f ice cream weren’t saling pints o le money’. They o h w an eg say, is k and b e rest, as they h T they were bac . n va er p VW cam out of Ben’s brand. this story and ve lo I . ry to is h
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With specia l thanks to Carol Freeman
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000 Entrepreneurs SSL March 13:Layout 1
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Starker’s in the rain? Not likely…
Eric Barton shares the mouse mat with IT supremo Roger White, Managing Director of SSL Clouds are wonderful things. Unless of course one of them lets go with the old h2o and you’re bereft of an umbrella or in the nude. William Wordsworth in 1804 had a few poignant, wandering, lonely scribbles on that very subject. Not the nudity… the clouds! I’m still landlocked in the blissful ignorance of a cloudless World. Not so the IT gurus of today’s business milieu. Computers now feel like the norm in the workplace. It makes us wonder what we did before computers. It feels natural to work at a computer because it blends into the
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business lifestyle. A scrap of paper and a biro isn’t going to cut it. When was the last time you watched somebody writing a letter with a pen? The invoices, letters, confidential documents, receipts and more can be done in less time than doing it manually. It’s true to say we live in an immediate World. In the damp, soggy fog that can envelope any companies’ IT strategy there is always a ray of sunshine, hope and help to burst the clouds of confusion that still shroud some companies IT planning and spend. Roger White and his team of cloudbusters at SSL (Severnside Software Limited) are keen to point out that with some forward planning and the right
approach it’s not all doom and gloom and you can easily avoid problems before the ‘bugs bite’ or you irrevocably watch your company grinding to an ITled gridlock. Roger White says, ‘companies need to keep their IT strategy and planning up to date and more importantly plan for the future expansion of their operation’. Never a truer word said. Talk to any entrepreneur and they’ll openly admit to wanting their own business embryo to be become bigger, stronger, increasingly efficient and more profitable. Its common sense to want growth and IT plays a huge part to not only the forward planning, but the smooth day - to - day running of any company. Just think of your emails MARCH 2013
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going into meltdown or all your sales records or invoices disappearing into to a deep, awful void never to be seen again. Roger goes on to further say,’ it’s crucial that companies get a handle on their IT strategy and likely needs in both the medium and long-term. At SSL providing the key advice on this very area of 24/7 IT support is one of our real strengths. We don’t want companies to be out in the proverbial rain without any cover or support’. Computers have indeed transformed the workplace and workplace mobility will be the next revolution to impact corporate Britain as emerging technologies continue to enable and power our daily work lives. Roger White comments, ‘the growth and emergence of the Cloud and networking are now becoming indispensable to more and more companies and individuals alike’. Another important growth sector within the computing world will be the continuing rise of Big Data. According to analysts, there will be countless opportunities for the creation of new businesses to crunch the massive amount of information being generated every day by companies which is simply too big to store and analyse in house. Again that’s where Roger White and the ‘cloud busters’ come in at SSL; giving straight honest easy to understand advice that helps crystallise your way forward. It’s a scary reality that if you don’t keep up with this stuff then your company could be affected and you could easily founder on the shoals of indifference. Roger White is very emphatic when he says, ‘I don’t want any of our existing or potentially new customers to get bogged down in the IT maelstroms that can easily develop through either accepting the status quo or indeed being ill informed’. There’s and old adage that says people get bored, people get headaches…computers don’t. Companies like SSL are at the technological coalface when it comes to identifying not only problems but solutions. Like the ‘march of the penguins,’ the growth of office based technology is becoming inevitable and ever - more crucial to the every day operation of MARCH 2013
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Roger White
even the smallest companies. When man went to the moon the Apollo spacecraft computer only had 1k of memory. It is now predicted that within the next forty year span one £1,000 computer will be more intelligent than the entire human race. That’s bonkers. Within fifteen years, one single computer will be smarter than the average human being, or somebody from some god forsaken mid – American inbred backwater. Within five years, one computer will have the brainpower of a mouse (of the animal variety) and Artificial Intelligence will have officially outsmarted all of humanity. The stellar moment in time at which computers ‘outsmart’ humanity is known as the ‘singularity.’ Computers are already acquiring the ability to learn from past events and mistakes, and after the singularity, they will be better at doing so
than any human being on earth. This coming paradigm shift leads us down one of two paths: One embracing technological progress and one rejecting it. Scary stuff. Roger White finally comments with a sage of friendly advice, ‘as a company don’t get left behind with any of these advances and certainly don’t be left naked or exposed.with your IT planning or current needs’. Roger White and the SSL team are always on hand to help with strategy, planning and support. It’s soothing to know they’re just a call away and can administer the complete 24/7 support and planning package that could just make the difference. Remember even poets use computers, starker’s or not! CS For more information www.ssl-uk.net Tel: 01452 720250
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Angels4Angels turning local entrepreneurs’ dreams into reality The UK economy needs entrepreneurs and growing businesses to help it recover. If the Cotswolds is anything to go by, the country’s prospects are in good shape… But new ventures need nurturing and a recent Cheltenham initiative has just that objective in mind. To enable local budding entrepreneurs to realise their aspirations, Cheltenham based businessmen John Caines and David Cribbin have combined their first-hand experience in angel investing and numerous business successes, to form a managed business angel syndicate. Angels4Angels provides an effective and free service to the growing number of investors seeking to back early stage entrepreneurial business ventures. John Caines comments, “Angels4Angels brings together the ideas of good practice derived from independent research and my observations from the past 10 years of working with entrepreneurs, business angels and venture capitalists. Our aim is to contribute to the bigger picture of creating worthwhile employment and the sort of businesses that will enhance a competitive UK economy, as well as giving our investors a good return. When approached at a professional and portfolio level, it can also be a very good investment vehicle.” He continues: “The recipe for success is capturing excellent experienced business people and matching them to relevant ambitious entrepreneurs.” Since its inception in May 2012, thirty investors have joined John Caines and David Cribbin in committing to fund start up businesses. These investors range from experienced angel investors through to recently retired business owners and busy hands-on executives,
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all looking for new investment opportunities. David Cribbin comments: “In early September 2012 we completed our first investment which is not only a good investment for our members, but will also mean employment for over 300 people. We expect to complete two further transactions over the next few weeks. With proven processes now in place, we aim to upscale Angels4Angels rapidly towards our aspiration of national coverage, investing several £millions per year in entrepreneurial businesses.” Together with other ventures being evaluated for investments later in the year, the Angels4Angels portfolio covers such diverse businesses as smart energy metering, innovative footwear, medical devices and crowd funding of good causes. David added: “The diversity of ideas that we see and the enthusiasm of the innovators starting new businesses can only bode well for the UK – our mission is to enable more entrepreneurial dreams to turn into reality”. From their principle of only investing where there is a suitable Lead Investor to add effective mentoring and financial support, Angels4Angels enables experienced people to put something back into both the economy and next generation of business leaders. Caines comments: “Successful mentoring is a fulfilling role for
What are Business Angels?
Business Angels are individuals who invest in early stage entrepreneurial business ventures. An increasing number of angel investors organise themselves into angel syndicates to share research and pool their investment capital. Angels4Angels is one such local syndicate. Lead Investors in addition to the clear benefits for the recipients of their accumulated wisdom. Businesses backed by angel investors tend to create jobs of good quality in ventures that add to the UK's competiveness as a further boost to the economy.” Successive governments and business leaders recognise the contribution that new businesses add to boosting enterprise and growth. This is reflected in the long established Enterprise Investment Scheme (“EIS”) which provides attractive tax incentives to investors in such businesses. Cribbin adds: “Angels4Angels will seek to take advantage of such tax reliefs so that investors may be able to obtain both income tax relief and a capital gains tax free return on disposal.”
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The Angels4Angels team The Angels4Angels team possesses a diverse set of skills and experience – but they all have the same fundamental motivation to kick start that sustained uplift in the UK economy by releasing and supporting the energies of our entrepreneurs.
JOHN CAINES John brings a wealth of experience to the angel investment process. Following an accountancy qualification and an MBA from the London Business School, John founded Cheltenham-based software company Maxima and developed it to a profitable 500 staff group before a successful exit in 2001. John has assisted many businesses as a Non Executive Director including Gloucestershire-based companies, such as Cotswold Collections and Kallidus. John has chaired the South West Angel and Investor Network - SWAIN, is author of 'The Effective Entrepreneur' and in 2009 was awarded an OBE for 'services to entrepreneurship and business'. DAVID CRIBBIN David brings valuable experience in identifying investment opportunities. In 1988, qualified accountant David joined £8m turnover Agri-Supply business Masstock as CFO, and in 2005 became CEO. At Masstock, David led the acquisition and integration of 40 companies and as CEO achieved unprecedented growth in Are you an entrepreneur? Are you an entrepreneur with the ambition and credentials to build a highly successful business, who requires funding to achieve your aspirations? Do you recognise the benefits an experienced lead investor/mentor with knowledge of your sector can bring to your business? If so – you are invited to contact Angels4Angels.
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skills and expertise
revenue from £170m to £330m and an eight times growth in earnings. David jointly led two MBO's and a successful exit to Origin Plc in 2008. During his time at Masstock, he completed an MBA from Warwick Business School and attended the prestigious Advanced Management Programme at Harvard. Since his successful exit from Masstock in 2010, David has made a number of personal investments in early stage growth and jointly invested with venture capital backed businesses. He is also involved in a number of charitable foundations.
VICTORIA FRANKS Victoria communicates regularly with investors and entrepreneurs. Victoria’s background as Marketing &
How to become a part of Angels4Angels and make a difference… Are you looking to invest? Perhaps you are looking for a new challenge after exiting a successful business or you would like to diversify your investment portfolio? Angels4Angels would welcome
Left to right: Victoria Franks, John Caines, David Cribbin and Helen Lovatt
Communications Manager at Cheltenham based Software company Maxima means she is fully equipped to build a sustained programme of communications to investors and entrepreneurs in the Angels4Angels community.
HELEN LOVATT Helen introduces investors to the benefits of angel investing. Helen’s involvement in the local business community and background as a corporate finance lawyer, including time in-house with Venture Capital and business development, positions her perfectly to introduce high net worth investors to angel investment and early stage entrepreneurial business ventures. enquires from potential Investors who are looking to join a managed angel syndicate as either a passive or more hands-on business angel.
If you are interested in joining Angels4Angels please contact Victoria Franks on 07971 971 899 / victoria.franks@angels4angels.co.uk or visit www.angels4angels.co.uk for more information CS
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Brewin Dolphin – supporting entrepreneurs and business in Gloucestershire Brewin Dolphin is one of the UK’s largest independentlyowned private client wealth managers, with 39 offices throughout the UK and Channel Islands. Committed to personal service, we offer a wide range of financial solutions to help you make the most of your investments. For more information, please contact Paul Nurden on 01242 577 677 or email paul.nurden@brewin.co.uk brewin.co.uk/cheltenham
The value of investments can fall and you may get back less than you invested. Brewin Dolphin is a member of the London Stock Exchange and is authorised and regulated by the Financial Services Authority No.124444
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Raising our game Paul Bates, Publisher of Cotswold Style, met up with Ed Mawle, Divisional Director at Brewin Dolphin Cheltenham and asked him about entrepreneurs in Gloucestershire... Have you noticed an entrepreneurial shift in Gloucestershire over the past few years? Yes, it’s interesting to note that since 2008, the number of entrepreneurs in the country as a whole has grown by 367,000, according to the latest figures from the Office for National Statistics. This shift has definitely been reflected in Gloucestershire with more and more people deciding to leave the comfort and safety of salaried employment. We, of course, have a lot of home-grown talent in the county but due to Gloucestershire’s location and popularity, we also benefit from an ongoing influx of progressive businesses and individuals who choose to relocate to the area.
What is the profile of the typical Gloucestershire entrepreneur? Interestingly, there is no ‘typical’ entrepreneur, no mould that can be easily stereotyped. Ages vary widely, from people in their 20s starting out in business on their own to those who have worked in industry for maybe 20-30 years. The nominees showcased by Cotswold Style and those whom we come into contact with at Brewin Dolphin do, however, share certain attributes: a spirit of adventure, a compelling personal drive, a belief in themselves, a confidence in others and a willingness to get stuck in – traits which set them apart and which make them so exciting to work with. How important is the Entrepreneurs Award for Gloucestershire? It is hugely important. Firstly, it provides
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a stage to showcase the business talent that we possess in the county. Secondly, it encourages our entrepreneurs and gives them public recognition for their ingenuity and tenacity. Finally, it provides press coverage and networking opportunities which cannot be underestimated in a climate where bank lending and business funding is more discerning.
What have Brewin Dolphin done to foster entrepreneurial spirit in Gloucestershire? Two things: Through increasing our brand awareness via the Brewin Dolphin Cheltenham Cricket Festival and via our association with Gloucester Rugby, we are trying to raise the profile of local business in Gloucestershire. By fostering relationships and engineering networking opportunities, we hope that entrepreneurs – (both small business owners and the entrepreneurially-minded within larger organisations) – will have a better platform from which to drive their businesses forward. Secondly, we help entrepreneurs to make the most of their money and to plan for the future in relation to their personal finances as well as their overall objectives for their business. Formulating a coherent and suitable investment strategy for our clients obviously represents the core to our bespoke wealth management offering, but we also take a wider look at their finances and personal circumstances. This will often require the expertise of other associated private client professions in the area with whom
we find our services dovetail perfectly, both from a technical and relationshiphandling perspective.
What attracts you to working with entrepreneurs? Entrepreneurs make things happen. Refreshingly, they see opportunities rather than obstacles. They tend to be excellent networkers and their energy is contagious. Entrepreneurs force us to raise our game - a challenge we revel in. They work on short timelines so decisions are made swiftly. We also find they are only too happy to recommend the services of people they trust and firms with which they’ve had a good experience. Entrepreneurs are extremely valued clients at Brewin Dolphin. They challenge us, they make us think and they empower us. A happy side effect is that their success is great PR for our services! CS The value of investments can fall and you may get back less than you invested. The opinions expressed in this document are not necessarily the views held throughout Brewin Dolphin Ltd. Brewin Dolphin Holdings PLC and its subsidiaries (including Brewin Dolphin Limited), as well as their Directors, representatives and employees, accept no liability for any direct or consequential loss arising from the use of this document or its contents.
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At Brewin Dolphin, we can’t do our job without knowing what makes you tick. So we’ll always invest our time. Before we invest your money.
At Brewin Dolphin, we believe it’s essential to understand what’s important to you. It’s the key to creating and managing your bespoke portfolio. When it comes to your investments, the first thing we earn is your trust. For more information, please contact Alex Barrell on 01242 577 677 or email alex.barrell@brewin.co.uk brewin.co.uk/cheltenham
The value of investments can fall and you may get back less than you invested. Brewin Dolphin is a member of the London Stock Exchange and is authorised and regulated by the Financial Services Authority No.124444
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BOLD & BRAVE… Eric Barton meets up with Kay Williamson, Managing Director, Gravitas PR The very essence of any entrepreneurial activity is usually based on the ability to overcome fear, conquer self doubt and harness the mind. Stacking shelves in a supermarket is usually borne out of necessity rather than desire. Patently there is a big difference between shoving cans of beans in aisle three to the heady heights of handling high profile PR campaigns, but there is a link in that it only takes the desire and the brainpower to make the difference. PR is at the very beating heart of most companies and their external profile is in most cases crucial to them. Think horses versus beef in ready meals here. Kay Williamson, Managing Director and owner of Cheltenham PR outfit Gravitas has cut a swathe through the PR world since she emerged in the 1980’s with a history degree from Lancaster University and a gritty knowledge of the media from working for pennies with local press ‘up North’ as an intern. Her desire to get on led her to leave her Manchester home for London. As Kay explains,’ I was always going to be journalist and a move to London seemed the right thing to do’. As her experience in London widened she also embraced the PR ‘super mix’ that sometimes only a stint there can offer. Kay says,’ I worked on iconic brands like Butlin’s and HP to The National Maritime Museum, and for big PR consultancies. A sojourn of twelve years saw Kay’s enthusiasm wane for the ‘big smoke’. Kay says,’ I knew Gloucestershire through the Badminton Horse Trials and decided that Cheltenham would offer the best challenges outside London’. Then when two former clients asked her to manage their PR the die was cast. Kay says,’ I decided this was my time and formed Gravitas PR’. In fact you’ll find that Gravitas PR was born in a recession and it takes real self belief and guts to open MARCH 2013
up shop in an economic downturn. Her first big break was winning the PR account for South West Nuffield Health Hospitals. Kay says,’ this prestigious client was so prized that I was editing speeches for them on the eve of my wedding’. Kay Williamson is clearly passionate about PR, crisis communications, her clients and her team’s achievements. Her passion is at the very core of the business where she instils those very self same qualities in her hugely dedicated team. Kay goes onto further say, ’my role is like that of a creative director here and I have to be a catalyst through the culture I create. It’s the staff here that really makes things happen’. They must be doing something right as Gravitas PR can boast a host of high profile clients; everything from the skincare brand where they created Cheltenham’s first pop-up beauty shop to the wild flower turf company who supplied London’s Olympic Games. The last recession bit many local firms and Kay simply says, ‘it’s been tough and we hunkered down a bit, but we also hired more people and have expanded.” Starting any business is daunting and only entrepreneurs who have been through this mill know what they’re talking about. Kay Williamson is very
direct on this, ’my advice is if you want to start something up, just do it – and while you’re still young, as you can always go back to stacking shelves. If you believe in what you’re doing follow your heart, not just your mind… and above all be bold and brave’. And what of the future at Gravitas PR? Kay says: “In the next three years I’d love this building to be bursting at the seams with talented, dedicated people who can deliver work for our clients in the spirit of bravery and intelligence that clients need’. Kay Williamson has come a long way from borrowed offices and computers to owning a four - storey office building in Lansdown Place in Cheltenham. Just shows you what bravery can do. CS For more information www.gravitaspr.co.uk Tel 01242 211000
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MAKING YOUR ‘LIGHTBULB MOMENTS’ LAST A LIFETIME In today’s competitive marketplace entrepreneurs and their precious ideas need guarding. RICKERBYS LLP can make sure your ‘next big thing’ isn’t over before it begins. The team has produced a free guide to Intellectual Property, from creation through to expansion and beyond and is essential for anybody who sees potential in their bright ideas.To request your copy contact:
e: ip@rickerbys.com t: 01242 246494 www.rickerbys.com
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Entrepreneurship: Never a better time? As we come to the fifth or, perhaps, even the sixth year of the UK’s economic downturn it is interesting to note that there are still good reasons for entrepreneurs to feel confident about the ability of business to thrive and continue in what many commentators would have us believe is an unbelievably harsh climate. In this brief article I set out a number of factors which suggest that everything is not doom and gloom especially for those with an interesting and original idea:-
1. The Patent Box. This new regime will allow worldwide profits from the exploitation or eligible patents or other qualifying rights held by companies which are subject to UK corporation tax to be taxed at a lower rate of 10% rather than the main rate of 24%. This new regime comes into effect on 1st April this year with the lower rate being phased in over a five year period; 2. China. The growth of the economic powerhouse has slowed markedly over the past year or so. Companies are no longer as completely wed to the lower production costs offered by the far East. There are undoubtedly quality issues in cases of large scale manufacture which have caused production to be concentrated either within the UK or in facilities over which greater control can be exerted from the UK.
3. Education. Business leaders in the UK are beginning to concentrate far more on establishing direct links with schools in order to ensure that there is a ready supply of suitably qualified students. The Government’s commitment to the education sector now encompasses “studio” schools MARCH 2013
which are designed to provide a vocationally based approach to education. It is highly encouraging to see Gloucestershire College pioneering the ‘Gazelle’ scheme that puts ‘entrepreneurship’ as a core theme in their business related vocational training. 4. Finance. Many successful companies are sitting on large “war chests” of money which are simply waiting for good ideas to emerge. 5. Entrepreneurs remain active and committed. The food and drink sector is increasingly fast and (forgive the pun) fluid. Entry costs are relatively low for the right quality product (probably not involving horsemeat). Entrepreneurs increasingly focus on branding issues with which to badge their product. In some cases the wackier the better!! A good example is that of Innocent – the smoothie maker.
6. Entry costs. The internet and the rise of the “App” is the obvious example. Entry costs are not particularly high. I am aware of one client who produced a modern take on an established computer game where the royalties provide a steady monthly cheque. Gloucestershire has always been a great place to do business. There is no doubt that entrepreneurship is alive and well within the Uk in 2013.It is just a little more difficult to identify than before. Whatever the economic climate, there is room for original thinking and new business opportunity. For further information or advice, please contact Richard Knight, Partner and Head of the Corporate Team at Rickerbys LLP Solicitors on 01242 246468 or email Richard at Richard.knight @rickerbys.com
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Make a difference Renishaw plc is a UK company, which employs over 3,000 people in more than 30 worldwide locations. We develop and manufacture world class products - our core skills rest in measurement, motion control, spectroscopy and precision machining. From jet engine and wind turbine manufacturing, to dentistry and brain surgery, we apply innovation to solve tough engineering and scientific problems. Part of Renishaw’s ongoing success is due to our commitment to invest in the training and development of our people through structured career and development programmes. We offer a competitive salary and excellent benefits package. Please see our website for a full list of over 100 UK based Engineering and Scientific opportunities. The majority of these roles are based in south Gloucestershire, within easy reach of Bristol, Bath, Cheltenham, Gloucester, Stroud, Swindon and The Cotswolds Join a global company that encourages personal achievement. Latest vacancies include: Application Engineers
Senior Optoelectronic Engineer
Design Development Engineer
Senior Production Engineers
Process Development Engineers
Software Engineers
Technical Sales Manager
Make a difference: visit www.renishaw.com/careers or call 01453 524524 Hear about jobs at Renishaw first, follow @renishawplc on
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Brunsdon
TM
INSURANCE AND FINANCIAL SOLUTIONS SINCE 1932
FRESH PERSPECTIVES INSPIRED SOLUTIONS Brunsdon. Where experience counts for everything. As a 100% independently-owned company, we specialise in helping businesses and individuals realise their potential and achieve their goals. We are widely regarded as experts in Employee Benefits and workplace pensions Auto-Enrolment, Financial Solutions, Wealth Management, Commercial Insurance and Personal Insurances. And we are able to offer clients access to institutional levels of investment via our own exciting investment solution. Call us on 01452 623 623, e-mail enquire@brunsdon.co.uk or visit www.brunsdon.co.uk and learn how we could help you now, or in the future.
Giving something back
Brunsdon is the trading name of Brunsdon LLP (Reg. No. OC341093) Brunsdon Financial Services Ltd. (Reg. No. 03434005) and Brunsdon Insurance Brokers Ltd. (Reg. No. 03433998), all of which are registered in England and Wales at 18c, Ley Court, Barnett Way, Barnwood, Gloucester GL4 3BX. Offices in Gloucester, Cheltenham and the Forest of Dean. All firms are authorised and regulated by the Financial Services Authority (FSA). FSA registration details can be checked by visiting http://www.fsa.gov.uk/ Not all products and services offered are regulated by the FSA.
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#YellowSofa
Join the debate now
JOIN THE DEBATE See what the future holds: 11-14 April 2013
For great ticket deals and more information visit cheltenhamdesignfestival.com Discover how creative thinking changes lives for the better at the Cheltenham Design Festival – with four days of inspiring events for all the family at the Parabola Arts Centre, it’s a vision of our future.
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Cheltenham gets creative
The Aston Martin Rapide S will be making an appearance along with Aston Martin's celebrated Design Director Marek Reichman
From cars to mobile phones, design affects our lives in every way as the Cheltenham Design Festival shows
Back for its second year from 11-14 April, in a blaze of its signature yellow, the Cheltenham Design Festival will set the Parabola Arts Centre abuzz with debates, talks and interactive events that show the power of innovation. Last year saw a host of worldrenowned creative thinkers taking the stage as designers, branding experts, engineers and digital masterminds talked about the power of creativity. For 2013 the organisers have added an extra day and invited even more innovators to demonstrate how good design improves our lives. This year's festival will feature even more family events, including a series of fun, free workshops for young artists, inventors and photographers. If you think creativity doesn't touch your own life, think again. Everything around us is designed; our phones, our cars, the chairs we sit in and the shoes we wear. Good design is seamless; when it works we don't even notice it's there. This four-day event is a chance to see creative thinking in action and take part in some fun and fascinating discussions and debates. Motor enthusiasts have a chance to hear from Marek Reichman, Aston Martin's Design Director, who will explain how the iconic car manufacturer achieves a perfect balance of design and performance. It's a rare chance to hear MARCH 2013
from the man behind one of the most prolific periods of new model introductions at Aston Martin – including the DBS which featured in the 2008 James Bond film Quantum of Solace. It's also an opportunity to under the bonnet of the Rapide S itself and appreciate its grace and poise. The Cotswolds is a centre of innovation, a fact that hasn't escaped the festival's organisers. Oli Christie of mobile games studio Neon Play in Cirencester will be showing what it takes to create and launch successful mobile games while the architects behind the new-look Cheltenham Art Gallery and Museum will be explaining how they took inspiration from the museum’s collection for the new design. The Cheltenham Design Foundation, the charitable trust behind the festival, are passionate about nurturing creativity locally. Their Design Academy, free Saturday classes for 14-16 year olds, has been a huge success and allows local young people to experience many different design disciplines. At the 2013 Festival, all young creative minds can get involved in the Sunday Studios, free to 816 year olds. Covering illustration, inventing and photography, these handson workshops are a great way to explore ideas and see where they lead. In the Ideas Lab workshop, budding inventors
Right: BBC Radio 4’s Fi Glover returns for 2013 to chair more lively debates at the Festival
can get tips from the Science Museum's Inventor-inResidence Mark Champkins, who'll be showing how to research ideas, take them to the next level and pitch a product. As a successful candidate on the BBC's Dragon's Den, Mark will also be giving advice to inventors for all ages in the Parabola's main auditorium so it's a great opportunity to learn from someone who actually tamed the Dragons! During the Festival there will be events and workshops taking place at the Parabola, so you can soak up the atmosphere and discover something new. This year's Design Academy students will be showing an exhibition of the work they've produced, from soft drinks packaging to self-portraiture and building designs – a chance to see what the next generation of Cotswolds creatives are up to. CS Tickets will be on sale from the Town Hall box office or the Cheltenham Design Festival website. To find out about all the events, sign up for the Sunday studios and to buy tickets, go to cheltenhamdesignfestival.com
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MAKING PROGRESS As legislation makes dropping out a thing of the past, a new UCAS website is helping thousands of teenagers make the right choice after GCSEs From this summer, by law, teenagers must stay in some form of education or training until the end of the academic year in which they turn 17. The UCAS Progress website is helping councils, schools, colleges and parents meet this challenge, by letting young people search for post-16 courses all in one place. Since September last year, younger students in Gloucestershire have been using UCAS Progress (ucasprogress.com) to find courses ranging from apprenticeships in engineering to A-level maths. Gloucestershire county council and local education providers have teamed up with the Progress team to deliver regional content for the new web service. While UCAS is best known for managing university applications, UCAS Progress is for younger students searching for courses like BTECs, Diplomas, A-levels and apprenticeships. It’s free to use and can also accessed on mobile devices like tablets. Teenagers can search for courses by region, type of course, or just a simple keyword, then save and share them with friends, family and advisers. From September - under a change in the law known as Raising the Participation Age - teenagers must continue in education or training until the end of the academic year in which they turn 17. And from 2015 that requirement extends until they turn 18.
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Gina Bradbury
Nationally, the UCAS Progress service receives over one million page views a week. Andrew Webster, Information, Advice and Guidance Manager for Prospects said: “We’re very positive about seeing the introduction of UCAS Progress within the Gloucestershire area because of the support it offers to young people making career choices. “Using UCAS Progress students can find out information about schools, academies, colleges and training providers, and view information by course, provider or on a map. “By typing in their postcode or the location of where they want to study, they can find learning opportunities within a chosen distance. “UCAS Progress is a great way for them to explore the options open to them and is a helpful supplement to the expert face to face careers guidance provided by Prospects Careers Advice Plus.”
More than 70 local authority areas in England, including Gloucestershire, are using UCAS Progress as either a search tool, or as a complete search and apply system. Gina Bradbury, Head of UCAS Progress said: “As the demands of Raising the Participation Age become a reality this year, we’re very excited to be working with Gloucestershire’s Local Authority and education providers, to help young people make informed choices about the future. “With so many changes within education, and new responsibilities for schools and colleges, we have worked to develop a service that is efficient and effective for students as well as for the teachers and advisers supporting them.” CS For more information contact the UCAS Progress team on 0871 468 2568 or email ucasprogress@ucas.ac.uk
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#EnTTrepreneurs Supporting EnTTrepreneurs; why Tayabali Tomlin is the right Accounting firm
Research shows that aside from friends and family, accountants are the most trusted advisers for any business. Accountancy is an integral, necessary service and making the decision about who to use can be difficult; entrepreneurial businesses looking to grow should be selecting a firm that can support them as a start-up and adjust to their needs as they expand.
At Tayabali Tomlin we recognise that entrepreneurs need more than just ‘an accountant’ and we specialise in creating added value services for each of our entrepreneurial clients. As a profession, accountants are particularly risk adverse which directly contrasts with entrepreneurs’ risk-taking instincts; we’ve recognised this gap, addressing the disparity so we can help you achieve your personal and business goals. This means your attitude to business becomes the focus of our work and our service, leaving you free to concentrate on optimising your business. We’re here to help... For any business, choosing the right accountant is a critical decision. Pick the wrong firm and it will cost you a lot of money, slow your growth, and give you additional stress and worries. To make it simple, we offer individual support for tax returns and end of year accounts or a range of ongoing fixed fee packages to support and help you manage and optimise your business. Contact us today to find out how we can help your business fly and ensure you have a forward-thinking accounting team on your side. MARCH 2013
What makes us different?
• We’re experts – innovative in our outlook we understand entrepreneurs and what they need and, more importantly, we understand business. Whilst all our clients are unique, they do share certain common characteristics, so we are able to benchmark them against relevant performance indicators and carry out sensitivity and ‘what-if ’ analysis to help them grow and become more profitable. • We’re committed – we take the time to learn about you and your entrepreneurial business, which enables us to appreciate what works and what doesn’t for you. • We’re proactive – tidying up history is not our primary aim. We look forward with a commercial focus and provide practical support including strategic planning, cash flow forecasts and budgeting, client advisory boards, customer service training and Boardview. We also instinctively work to minimise your tax liability to the legal minimum, combining simple and innovative tax planning techniques to ensure you have the right structure and tax efficient approaches. Our aim is to help you fulfil your goals! • We’re flexible – entrepreneurs are extremely busy and often need advice or to meet at the drop of a hat! We are adaptable and use technology to its fullest so that we can provide the most efficient and effective service possible. • We’re straight-forward – entrepreneurs want to know what they are paying for, so we have fixed price agreements and a transparent fee policy. T: 01242 583 772 E: enquiries@tayabalitomlin.com W: www.tayabalitomlin.com #enTTrepreneurs
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Be unique. Bespoke yourself something beautiful from Beards. Tailored to suit every budget. For your bespoke appointment, call us on 01242 516238
Buy online at www.beards.co.uk
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