Business Eye JanFeb 2019

Issue 185 Jan/Feb 2019 £2.50 Voted best Business Magazine in Ireland 2005 and Magazine of the Year for Northern Ireland

NI Retail...

A Lawyer’s Perspective from Arthur Cox Features:

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Ruth McDonald…Narratology & The Executive Market

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Grant Thornton… Tax Team At Forefront Of Growth

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Paddy Anderson…

Steering Translink’s Investment Agenda

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Contents

Jan/Feb 2019 ISSUE 185

Cover Story

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NI Retail… A Lawyer’s Perspective from Arthur Cox

Branding….The Foundation For Business Success Rick McKee, Managing Director of top branding agency The Foundation, talks to Business Eye about the importance of branding to companies across the board, and about the growth of the agency.

Many retailers in Northern Ireland experienced a challenging 2018, prompting some to turn to their legal teams to help improve trading positions.

Kieran McGarrigle, a Finance Partner at leading law firm Arthur Cox, provides a lawyer’s insight into the current climate on the high street and the use of legal processes by some retailers to survive.

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Narratology… Weaving An Executive Success Story

Cunningham Coates might be based in one of central Belfast’s more modern office buildings, and it might well be a leading player in today’s wealth management marketplace, but it is also one of our city’s oldest and most historic companies, able to trace its roots back to Belfast in the mid-1800’s..

Tina McKenzie….Spearheading Grafton’s Stellar Growth Tina McKenzie is the dynamic and charismatic CEO of the Grafton Group, one of Northern Ireland’s fastest growing companies and largest employers, and doubles up as one of our most effective business ambassadors in her role as Northern Ireland Chair of the Federation of Small Businesses.

One of the most effective players in the specialist executive search marketplace, Ruth McDonald, has established a brand new company to service Northern Ireland’s top-level recruitment space. Narratology promises to deliver London-style methods to an increasingly busy executive recruitment sector here.

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Paddy Anderson…..Steering Translink’s Investment Agenda

Grant Thornton’s experienced Belfast-based tax team, headed by tax partner Peter Legge, is at the forefront of the firm’s impressive growth in the Northern Ireland marketplace….not to mention its plans for the future.

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An Eye On The Arts

As CFO at Translink, Paddy Anderson has plenty on his plate. The group’s £90 million investment in the Glider network in Belfast is up and running, but there’s a lot on the transport agenda going forward, not least a landmark investment in brand new multimodal transport hubs in both Belfast and Derry-Londonderry.

Jimmy Fay, Artistic Director at Belfast’s Lyric Theatre, talks to Business Eye about the challenges facing the arts in Northern Ireland and how the theatre is looking forward to a bright - and creative - future.

More Broadband Investment On The Ofcom Agenda

Jobs Market

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SeeMe… Belfast Birth, Global Ambitions One of Northern Ireland’s most experienced recruitment industry entrepreneurs has teamed up with a senior tech industry exec turned inventor to launch a revolutionary new digital end-to-end recruitment service. SeeMe promises to deliver a brand new way for candidates to apply, and for organisation to seek new talent.

The number of homes and offices in Northern Ireland unable to get a decent broadband connection has fallen by 15,000 over the last year, Ofcom has found, but some 40,000 premises still cannot get a good connection. The findings, part of Ofcom’s recently published Connected Nations Northern Ireland report, shows progress on the availability of broadband and mobile services, which are crucial to people’s personal and working lives.

A start of year Business Eye Business Leaders Forum asks a cross section of Northern Ireland business leaders and key decision makers to look at the key challenges of the year ahead of us all….with Brexit topping almost everyone’s agenda.

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Eye on Conferencing

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Eye on Events

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Eye on Personal Finance

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Moving On

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Eye on Motoring

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Eye on Law

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Eye on Management

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Eye on Finance

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Eye on Digital

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Editor Richard Buckley Commercial Director Brenda Buckley

Business Development Manager Ciara Donnelly

Design Hexagon Tel: (028) 9047 2210 www.hexagondesign.com

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Brexit & Beyond

Eye on Communications

Buckley Publications 20 Kings Road Belfast, BT5 6JJ Tel: (028) 9047 4490 Fax: (028) 9047 4495 www.businesseye.co.uk

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Grant Thornton….Tax Team At Forefront Of Growth

Transport Infrastructure

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Historic Firm Stays At The Leading Edge

Executive Recruitment

Regulars

Specials

Photography Press Eye 45 Stockmans Way Belfast, BT9 7ET Tel: (028) 9066 9229 www.presseye.com

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The DUP’s leader at Westminster, Nigel Dodds, issued a statement recently in which he called for ‘cool heads’ to be applied to the Brexit negotations, and the ongoing pantomime over at the House of Commons.

Comment

“We’re in a situation where our politicians are clearly relishing being centre stage.

They’re enjoying playing their roles in an endto-end game of brinkmanship.”

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e’s right. Cool heads are very definitely needed. But they’ve been needed and absent for a very long time as the whole debate has run....and run....and run.

At the time of writing, we’re not a whole lot further on than we’ve ever been. Business here in Northern Ireland, already well used to uncertainty, has no idea what’s going to happen. And anyone who claims that they know how all of this is going to pan out is talking nonsense. As for planning for Brexit, as some business advisers and others have recommended, is it even possible?

We’re in a situation where our politicians are clearly relishing being centre stage.

They’re enjoying playing their roles in an end-to-end game of brinkmanship. But, even though it’s a cliffhanger in sporting parlance, it’s a very dangerous game to be playing.

There’s little doubt that some of the stories surrounding what will transpire if the UK crashes out of the EU without the safety net of a deal are probably a little farfetched. They’re might be just a smidgeon of exaggeration in evidence every now and then.

But can any of us, with hand on heart, be absolutely sure that the scare stories won’t come to pass. No we can’t. And nor can the Sammy Wilsons and Jim Allisters of this world.

The Democratic Unionist Party and its 10 MP’s play a crucial role at the centre of UK national politics at the moment. But they might be wise to remember that it won’t always be like this. They won’t always be in the national spotlight and in demand for interviews and speaking opportunities.

The 10 MP’s represent Northern Ireland, and it’s incumbent on them to do the best they can for Northern Ireland.

Richard Buckley EDITOR Irish Magazine Editor of the Year 2005

At the time of writing (there’s that phrase again...), the DUP has a chance to deliver something concrete for Northern Ireland. If they are complicit in allowing the Theresa May government to drive the whole of the UK over the cliff of a hard Brexit, they’ll become persona non grata to business leaders back here in Northern Ireland. And they’ll face a long journey back to acceptance.

Perhaps that sounds self-serving. Perhaps it could be seen as arrogance on the part of business. But, at the end of the day, the DUP’s MPs have a unique, once in a lifetime, chance to fight for a deal which would provide real and tangible benefits for Northern Ireland.

And the party doesn’t need to compromise much, if at all, on its beliefs to do that.

Ultimately, when the Brexit dust has settled, and when there’s a much changed or very different government in power at Westminster, the DUP will have to shift its focus back home.

It’s something that they might want to start thinking about.

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Eye on News

ARTHUR COX SELECTS THE FOSTERING NETWORK AS CHARITY PARTNER

Colm McElroy, Finance Partner at Arthur Cox and chair of its CSR Committee joins Kathleen Toner, Director of The Fostering Network in Northern Ireland to announce the leading law firm’s selection of the organisation as its charity partner for 2019.

Leading law firm Arthur Cox has selected The Fostering Network in Northern Ireland as its charity partner for 2019, in a move that will see the firm’s employees take an active role in volunteering for the charity.

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he Fostering Network is the leading fostering charity in Northern Ireland, helping to support and transform the lives of children in foster care.

The collaboration forms an important element of Arthur Cox’s wider Corporate Social Responsibility (CSR) programme.

Alan Taylor, Chairman of Arthur Cox in Northern Ireland said: “We view a comprehensive CSR strategy, which is embedded into mainstream practices across our business, as vital to the wellbeing of our employees and the continuing success of the firm.

“We have a very active CSR Committee at Arthur Cox, which is drawn from employees at all levels and undertakes a variety of volunteering and fundraising activities throughout the year, aimed at delivering meaningful impact for our community.”

Colm McElroy, Finance Partner at Arthur Cox and chair of the firm’s CSR Committee added: “Some of our employees and associates have direct experience of the fostering environment in Northern Ireland and after meeting with The Fostering Network, we knew we could play an important

role in support of the charity.

“This partnership is about utilising the skills and expertise of our team, so we can volunteer with The Fostering Network, providing handson support in addition to fundraising.

“Be that helping young people prepare for the work environment by assisting with the compilation of CVs, interview skills, or other areas where the charity believes we can add significant value.

“The Fostering Network already runs a series of programmes in Northern Ireland that transform the lives of children in foster care and we are ready and eager to play our part in assisting the charity.”

More than 2,200 children live with over 2,100 foster families across Northern Ireland each day. The Fostering Network estimates that at least 200 new foster families are required across Northern Ireland in 2019 alone. In particular, there is a real need to find foster carers for teenagers and sibling groups.

Flybe Takes UK Punctuality Title

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lybe, Europe’s leading regional airline, has been recognised as outperforming many major UK players for its overall On Time Performance* (OTP), with an interesting note that its 86.5% punctuality in and out of George Best Belfast City Airport is higher than the top industry players and higher than its own above average industry performance.

In what is widely regarded as one of the industry’s most comprehensive on-time analyses based on ‘the most stringent and consistent criteria’, Flybe was the only UK-based airline to feature in the three Top 10 lists published by FlightGlobal,*** placing eighth in the Major Airline table with a 77% on time performance record during 2018. The overall results were determined following analysis of more than 120,000 operated flights a day drawn from over 600 global sources.

Sir Timo Anderson, Flybe’s Chief

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Operating Officer, commented: “We operate in excess of 450 flights a day, many more than any other airline operating in the UK. As such, this further official and independent recognition for our punctuality record is extremely welcome and owes a lot to our hard-working crews and engineers. Nevertheless, we believe that there always remains room for improvement. A very good record for departing and arriving within the accepted 15-minute window is naturally one of the main considerations for travellers when deciding to which airline they will take their business and we are therefore excited about achieving even better performance in this area in the year ahead.”

Speaking about Flybe’s on-time performance at Belfast, Katy Best, Commercial Director at George Best Belfast City Airport said its above-average punctuality

was testament to the positive relationship Flybe has enjoyed with the airport over the past 35 years.

“This is great news for all passengers travelling to and from Belfast City Airport on the many domestic routes served

by Flybe. Congratulations to the Flybe team on this significant achievement.

“We are committed to providing an enjoyable experience for all our passengers, whether they are taking off from or arriving at Belfast City Airport, and we work closely with all our

partners to ensure a smooth journey for our customers. As an example, as part of our £15m investment in our facilities a major upgrade to the Security area last year has reduced passenger processing time to an average of just six minutes.”

This latest report reinforces other high-profile OTP recognition received by Flybe in recent years including being named the most punctual UK-based airline in the Which? report on the ‘Best and Worst Airlines’ published in January 2018.

Eye on News

Onecom ‘Pockets’ Five Year Contract With Fintru Onecom, the UK’s largest independent telecommunications provider, has secured a five year agreement with FinTrU.

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he six figure deal means Onecom will provide telecoms solutions to both Belfast and North West offices.

Onecom NI offers a variety of different products and services that help businesses, ranging from sole trader to multi-nationals. The Northern Ireland office opened in January 2017 and has grown turnover to over £2m.

Paul Lawther, Head of Onecom NI, said: “This is a significant deal for Onecom as our Belfast office heads towards its second anniversary. Last year we secured significant contracts with a number of new customers such as the Irish Football Association (IFA) and Concern Worldwide.

“FinTrU is one of the most exciting companies to come out of Northern Ireland in recent years and we’re delighted to have secured this new partnership. There is a good synergy between both companies who

demonstrate an entrepreneurial nature with customers at their core.”

He added: “Onecom and FinTrU are both fast growing companies and this partnership will only further strengthen our market share. We have a significant pipeline of agreements signed for 2019 which puts us in a strong position for continued growth this year.”

Founded in December 2013, FinTrU is a multi-award winning financial services company that is committed to giving local talent the opportunity to work on the global stage with the largest international investment banks. In June 2018, FinTrU announced plans to create 605 jobs over the next five years including a new office in the North West.

FinTrU helps global investment banks meet their regulatory requirements.

Richard McGuinness, Chief Operating Officer of FinTrU, said: “Given the nature of our business, we needed a reliable telecoms company who

could provide a scalable solution as we continue to grow our operations in Belfast and the North West.

“We approached several multinational companies but Onecom provided a solution that utilised the

latest technology and they really impressed us with their approach that aligns with our own growth plans. We look forward to working with the team over the next five years and beyond.”

P&O Ferries Set To Delight Customers With New Club Lounge Menu P&O Ferries is delighted to launch its new Club Lounge Menu offering even more choice for customers travelling between Larne and Cairnryan on the shortest and most frequent crossing between Northern Ireland and Scotland.

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he new menu is exclusively available now in the Club Lounge on all sailings and provides a mouth-watering selection of light bites which are perfect if you are feeling peckish. It includes a selection of light meals such as a prawn open sandwich on wheaten bread, gammon ham and sweet pickle salad, and, among the breakfast options, smoked salmon and scrambled eggs on wheaten toast.

Club Lounge access starts from £12 per person when pre-booked and currently includes free Priority Boarding for cars (worth £6), so upgrade now and treat yourself to a stress-free trip and quick boarding.

A Club Lounge upgrade also includes a complimentary glass of wine, soft drink or hot beverage, and the opportunity to pick up a complimentary newspaper and take in the sea views as you sail.

Speaking about the introduction of the new menu, Sarah Rosier, Director of Passenger Sales for P&O Ferries, said, “We are thrilled to launch our new Club Lounge menu. We are continuously looking for ways to enhance and improve our customer experience.

The menu was designed to enable our Club Lounge customers to enjoy an even wider choice from our on board food offering which already has fresh, high quality food at its heart.

“Not only do we have the fastest

crossing to Scotland, but one of the reasons many people sail with us is so that they can break up their journey and enjoy a tasty meal on board. Now, for those in Club Lounge, they have the added knowledge that as well as securing a seat in the lounge’s tranquility, this new

menu offers an even wider choice than the tasty range of options available in the main Food Court.

“Choose to upgrade to travel in Club Lounge and you’ll be able to relax and unwind in an exclusive and peaceful area as you enjoy complimentary refreshments and snacks.”

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Eye on News

Record 151 Cruise Ships Due In Belfast This Year

Cruise Belfast, the partnership between Belfast Harbour and Visit Belfast, has announced that 285,000 visitors aboard 151 cruise ships are due to call at Belfast Harbour this year, an increase of 31% on the 115 visits during the 2018 cruise season.

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uly will be the busiest month with 32 ships calling, including SAGA’s first ever new build vessel, the ‘Spirit of Discovery’. Other first time callers to Belfast this year include

‘Disney Magic’ and Cruise & Maritime Voyage’s new ship ‘Vasco da Gama’.

In total 35 separate cruise lines will call at Belfast, the most frequent being Cruise & Maritime Voyages

(15) and Princess Cruises (13).

The Italian-based Costa line will also call at Belfast for the first time while the number of calls from Celebrity will double to eight. Norwegian Cruise Line is expanding its visits from one in 2018 to eleven calls as part of its strategic growth plans for the Northern European market.

Michael Robinson, Belfast Harbour’s Commercial Director, said: “Every year Northern Ireland’s tourism offer continues to grow, attracting new cruise lines and ensuring that long-established port customers continue to develop their presence in this market. The arrival of almost 300,000 visitors during this cruise season is a significant economic boost for the tourism sector, helping sustain and support further growth.

“Belfast is now the third most popular destination in the UK and Ireland for one-day cruise ship calls after Dublin and Orkney. This is a remarkable achievement that reflects the ongoing marketing activities of our partnership with Visit Belfast under the Cruise Belfast brand.

“This year we’re particularly pleased to welcome a number of standout new calls

including Disney and the first visit to any Irish port by SAGA’s newest vessel. Belfast City Centre and day trip destinations such as the Giant’s Causeway, the Glens of Antrim and Ards Peninsula continue to be a big draw for visiting passengers.”

The first vessel is due on 12th March while the final visit of the season is scheduled for the end of October. The largest ship to berth will be the 319m long, 125,000 tonne Celebrity ‘Reflection’ which carries 4,300 passengers and crew.

Gerry Lennon, Chief Executive of Visit Belfast added: “Cruise tourism continues to be one of the strongest growth sectors of tourism worldwide, and Belfast is asserting itself as a destination of choice in the eyes of cruise lines and their passengers. In the last five years alone, cruise visitor numbers to Belfast have more than doubled to the 285,000 that we expect to welcome this year.

“Visit Belfast continues to work closely with Belfast Harbour and our partners in the tourism industry to ensure that our cruise visitors get a world-class welcome and experience during their time in the city.”

levels to ensure excellence of delivery to our clients is key to our firm’s strategy.

“We are strongly committed to providing the high-quality guidance, support and mentorship which allows outstanding young individuals to excel in their legal training and join the firm as newly-qualified solicitors.

“Together with the support of

our clients, our success in Northern Ireland over the past decade has been driven by the outstanding quality of our lawyers and business support professionals. During this time, we have grown to a team of over 120 and will continue to invest in expanding our talent base in the coming years, in line with client demand.”

13 appointments mark continued investment in talent for A&L Goodbody Corporate law firm A&L Goodbody (ALG) is continuing to grow its talent base in Belfast as six members of the firm complete traineeships and take on roles as newly-qualified solicitors, and a further seven trainees join the firm.

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aving successfully completed training contracts with ALG, Niamh Collins, Dean Barr, Emmie Ellison, Lauren Lamont, Laura Barron and Jennifer Brannigan have secured fulltime positions as solicitors at the firm.

Meanwhile, Kourosh Abelekoob, Lydia Gilmour, Victoria Roberts, Shane Swaile, Martin McKiernan, Lauren McCollum and Lauren Smyth represent the newest cohort of trainees who will begin their legal training at ALG. Michael Neill, Head of Office at ALG in Northern Ireland, said: “Managing talent and driving high performance across all

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Eye on News

Malone Dental Smiling Under New Ownership A well-known dental practice in South Belfast is under new ownership having been purchased by local dentist Seamus Kennedy, with investment support from First Trust Bank.

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alone Dental, based in a Tudor style building located at 54 Malone Road, has changed hands from long standing owner, Dr Maria McElholm.

The practice has been acquired by 29-year-old Dr Seamus Kennedy, who plans to expand the surgery’s offering by extending the existing range of dental services and introducing facial aesthetic treatments including; tooth alignment, dental implants,

Dr Seamus Kennedy, the new owner of Malone Dental in Belfast is pictured with Joanne Earley, Business Manager of First Trust Bank.

cosmetic dentistry, and anti-wrinkle and dermal filler treatments. The ten-strong team service around 4000 patients across the greater Belfast area and wider afield.

Speaking about the acquisition, new owner Dr Seamus Kennedy

said; “I have always aspired to own my own practice and was delighted when the opportunity presented itself to purchase such a well-respected business locally”.

“I am excited to begin this new chapter for Malone Dental, building

on the current foundations of customer service excellence. We will remain a family orientated practice, providing high quality dental care for NHS and private patients. We also have plans to expand our services by offering non-surgical facial aesthetic treatments, meeting a growing demand for these procedures.”

Joanne Earley, Business Manager at First Trust Bank added; “From our initial meeting with Seamus it was clear he had researched the market and had ambitious plans for the business. To own a practice before the age of 30 is a remarkable achievement and we offer our congratulations to Seamus, his family and the team at Malone Dental.”

“First Trust Bank has in-depth experience across the healthcare sector and we are currently working with five other dental practices, helping them acquire or expand their business. We are proud to work alongside so many driven individuals like Seamus and wish him well as a new business owner.”

W5 Opens New MED-Lab Exhibition MED-Lab, a new interactive medical themed exhibition area at W5, takes visitors of all ages on an extraordinary and fun journey of discovery into the human body.

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he only exhibition of its kind in Ireland, it offers visitors the opportunity to learn about the amazing systems that keep our bodies alive and, by using advanced imaging technologies, see inside the body.

MED-Lab gives us the ability to explore our bodies and enables visitors to get hands on with some intriguing interactive exhibits, learning how the scientists at Almac Group discover and develop medicines and diagnostic tests for patients globally.

This exciting new attraction has been developed by W5 in consultation with local audiences and is funded by the Inspiring Science Fund - a partnership between the Department for Business, Energy & Industrial Strategy (BEIS), UK Research and Innovation (UKRI) and Wellcome. Additional support was awarded by the Almac Group.

The Inspiring Science Fund is a £30

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million capital scheme to support science centres across the UK, helping them rethink what they do and what they offer to the public.

Eric Porter, Chair of the Odyssey Trust said: “Enhancing education and scientific knowledge, MED-Lab is an innovative and intriguing investigation into our most prized possession – our body! We are delighted to unveil the first of eight new innovative zones in W5, which we know will be hugely popular with our visitors.”

Alan Armstrong, Chairman and CEO of the Almac Group said: “It is a real privilege to be partners in such an exciting project. As a business employing over 5,000 individuals globally, our success depends on the talent and skills of our most important asset, our people, it is therefore crucial that we continue to invest in the next generation. Almac is dedicated to advancing knowledge and interest in STEM subjects and sharing

Ashfield Girls High School School students Beem Johnston and Eden Haycock with Stephen Barr (MD Sciences and Discovery, Almac) and Eric Porter (Chair of Odyssey Trust). The new interactive medical themed exhibition takes visitors of all ages on a fun journey of discovery into the human body

our rich history and work carried out in the medicine development lifecycle for patients globally. We hope that through MED-Lab combined and with our long term STEM Outreach strategy thousands of young people will be inspired to seek out careers and realise the potential opportunities that exist across Almac.”

The new exhibition completed phase one of a refurbishment which will maintain W5’s position as a world class science

and discovery centre attracting tourists and people of all ages from Northern Ireland and beyond. In addition to the £1m investment provided by Almac Group, W5’s new Health and Life Sciences partner as part of a 10 year agreement, there is a £4.5m capital investment package for W5 refurbishment during 2019-2020. £3m funding was awarded through the Inspiring Science Fund and a further £1.5m invested by the Odyssey Trust.

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Eye on News

NI Manufacturers Remain Positive The latest Manufacturing NI and Tughans “The State of Northern Ireland Manufacturing 2018” manufacturing survey reveals a sector demonstrating positive growth, sustained profits and increased staffing levels.

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he survey, which was conducted in December 2018 for Manufacturing NI and legal firm Tughans, shows that 67% of respondents (up from 56% in May 2018) consider the uncertainty of Brexit to be the biggest issue currently affecting business, out polling other issues such as the cost of doing business and local political uncertainty.

Against this background, 80% of those surveyed described their business as being in a position of growth whilst 57% said they expected that growth to continue in the next 12 months.

57% of firms reported an increase in staffing levels, compared to 45% in May 2018, with 62% planning to take on more workers in the next year.

As Brexit looms, 50% of respondents believe that it will have a negative impact on business.

Preparations for are in evidence with 33% having conducted a Brexit risk assessment, 30% having put in contingency plans in place and 16% already stockpiling in anticipation of supply disruption.

Another 42% plan to stockpile to ensure continuity of supply.

Other barriers to growth include problems recruiting the appropriate skills to meet orders, bureaucracy and government policy areas.

Looking to the next 12 months, manufacturers are planning ongoing investment with 72% intending to increase spend on sales and marketing; 71% aiming to upgrade or introduce new facilities and machinery and 61% focusing

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on R&D or product development.

Stephen Kelly, Chief Executive, Manufacturing NI, says, “by nature, business will be positive, seek opportunity and plan for the future.

The survey demonstrates this continues to be the case despite some dark economic clouds on the horizon. Firms want a business environment which allows them to succeed, to be agile and take action on areas which allow them to create more wealth and work. Sadly, in the face of spiralling input costs, particularly energy, recruitment difficulties and 2 years after the collapse of the NI Executive and the increasing prospects of a No Deal Brexit, firms are escalating plans to make investments elsewhere or plough cash into investments which protect rather than grow their businesses.

It is startling that whilst the vast majority of firms recruited in the past year that 4 out of 5 of them struggled to get the skills they require for their business. This comes at a time when migrant labour is leaving, when a new migration policy restricts the ability to recruit and firms are being taxed for Apprenticeships without the right to invest this money into developing their own people.

A year ago 21% of businesses could see Brexit as being a success.

This has now sunk to only 6%.

Very few are convinced of any of the arguments put forward, particularly those promoting a No Deal exit. Indeed, half of firms say that Brexit is already having a negative impact on their business

Manufacturing NI’s Stephen Kelly, Maureen Traecy of Perceptive Insights and James Donnelly of Tughans at the report launch in Belfast.

and two thirds are say that it is a barrier to growth. These are people who understand the practicalities of trading in markets at home and abroad. Those who want Brexit to be a success need to start listening to these businesses or face the prospect of job losses in the mouth of May’s Council elections.”

James Donnelly, Corporate Partner, Tughans, adds, “The generally positive mood revealed in the survey is encouraging despite the many real and potential challenges the sector is facing.

With the majority of surveyed businesses (89%) actively recruiting, it remains a concern that 81% have found difficulty in recruiting the skills required and that 21% are turning down

potential business opportunities as a result. Whilst the sector is doing its best to mitigate against the skills deficit, there is no doubt that a restoration of local government would be of great benefit to address this.”

The Manufacturing NI and Tughans manufacturing survey was carried out in December 2018 by Perceptive Insight. Respondents represented companies from across Northern Ireland including those employing up to 1000 with the majority in the 10-49 bracket. The top three manufacturing sectors who completed the survey were machinery and equipment; wood, paper products and printing; other manufacturing and repair.

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Eye on News

A Year Of Progress for NI Tourism Alliance

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orthern Ireland Tourism Alliance has marked the successful conclusion of a year in business with a Members’ Forum at Riddel Hall, Belfast.

Addressing the audience of key players reflecting public and private sector representation within the hospitality and tourism sector were John McGrillen CEO Tourism NI, Niall Gibbons, CEO Tourism Ireland and Geraldine Fee, from the Department for the Economy. Featured ‘in conversation’ with event MC, Mark Simpson, was Bill Wolsey, Managing Director of the high profile Beannchor Group, Northern Ireland’s largest hospitality group.

Brenda Morgan, Chair of the NI Tourism Alliance, opened proceedings with a review of progress made by the NI Tourism Alliance since its inception one year ago. She said that, although the organisation’s diverse membership means it reflects a huge variety of views, it nevertheless provides Northern Ireland’s all-important hospitality and tourism sector with a single, united voice. The demand for progress has been reflected in the organisation’s fast growing membership which has

attracted influential members across the public and private sectors.

Brenda commented; “From the outset we have identified VAT and APD as massive obstacles which are putting a brake on our industry’s growth. Air Passenger Duty, the tax levied on every passenger travelling on every flight departing from airports in the United Kingdom, is the highest tax of its kind in the world while, at the same time, the UK’s 20% tourism VAT rate is amongst the highest in Europe, putting us at a huge disadvantage when, just across the border the Republic imposes a rate of just 13.5%. Those two major issues which unite our industry and, working together, galvanised for action we will continue to push Government for positive reform.

Brenda continued, “In the months ahead NITA undertakes to visit every area of Northern Ireland to consult, face-to-face, with all our members, drawing on their experiences, concerns and knowledge.

While we have already identified and are working to address key issues such as APD and VAT, we are particularly eager to explore with our membership their views on how to manage the skills gap which continues to impact adversely

Guest speakers pictured (l to r) are Niall Gibbons, CEO Tourism Ireland, John McGrillen, CEO Tourism NI, Mark Simpson host, Brenda Morgan, Chair, of the NI Tourism Alliance, Bill Wolsey, Managing Director of the high profile Beannchor Group and Geraldine Fee, Department for the Economy.

on our sector – and we know that many other important topics will be raised.

“Northern Ireland is making up for a lot of lost ground and tourism remains vulnerable. The uncertainties surrounding Brexit have only added to our legitimate concerns, adding a difficult and as yet unmanageable layer of complexity.

However, as we teeter on the brink of making ours a Billion-Pound-A-Year industry we have been given a tantalising

glimpse of just how successful we could be in the future, if we receive the support and recognition which our sector so clearly merits. Tourism is already making a massive contribution to Northern Ireland PLC, and NITA is fully committed to supporting the sector it represents as, together, we work towards our new goal, set by Tourism Ireland and Tourism Northern Ireland, of achieving, by 2025, an annual tourism revenue of £2Billion.

MW Launches Film & Video Service MW Advocate, one of Ireland’s leading communications consultancies, has launched a dedicated film and video production service with filmmakers Rhys Green and Laura Stark.

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hys and Laura have a combined experience of fourteen years in film production and editing and are both graduates of the Northern Ireland Film School.

With a combined experience of over fifty years of filming, campaigning, politics, journalism and PR, the expanded team at MW Advocate will focus on the production of short and engaging films for use on YouTube, Facebook and Twitter as well as mainstream broadcast media outlets and for clients’ own websites. The focus of the new service will be on the production of engaging and imaginative content, which impacts everyone who watches it.

Speaking at the launch, MW Advocate Managing Partner Brendan Mulgrew said:

“Film and video is fast becoming the main way that organisations and individuals communicate and this new service will deliver imaginative and engaging content which people will actually want to watch.

The prohibitive cost and bland nature of many corporate videos has prevented many organisations from producing their own films but we’re confident that will change thanks with Rhys and Laura’s expertise and our competitive pricing.”

The new service will include filming, editing, voice-over and a range of other film and production services.

Together the team has already produced films for a range of well-known brands and organisations including SSE Airtricity, Radius Housing, World Health Organisation Belfast Healthy

Cities and the Derry-based ‘We All Belong’ anti-prejudice campaign.

Rhys Green said: “We are delighted to be working with MW Advocate who have a deep understanding of the importance of producing quality film product which is interesting to viewers and will grab their attention. Our experience of film-making and editing

is one that we want to being to as many businesses, charities and public sector bodies as we can and working with MW Advocate will make this possible.”

The initiative may also see the production of short films in future, with discussions already underway with a number of short film screenwriters, to explore potential subjects.

Eye on News

Deloitte Plans New Belfast Head Office Deloitte has announced that it has selected Bedford Square as the location of its new head office in Northern Ireland.

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eloitte will become the anchor tenant in McAleer & Rushe’s new development on Bedford Street, which is centred around the regeneration and refurbishment of the historic listed building formerly known as the Ewart Building.

Staff currently based at Deloitte’s other offices in the city will all move to Bedford Square and once completed the Belfast office will be Deloitte’s largest UK office by headcount outside of London.

Bedford Square, an £85m development project, is a 213,000 sq ft Grade A office development to be delivered by McAleer & Rushe which will accommodate over 2,000 people upon completion.

It includes a modern new office building which will be linked to the refurbished and extended Ewart building on Bedford Street, a prime city centre location which has been unoccupied for some time.

The new Belfast office will accommodate all of Deloitte’s core business areas, including audit, tax and consulting and will also see a new state-of-the-art Deloitte Digital and Greenhouse space created in the Ewart building.

The vacant four-storey sandstone warehouse building was designed by James Hamilton for the Bedford Street Weaving Company and completed in 1870. The new development aims to regenerate the old warehouse building, respecting its heritage and the character of the exterior, while completely redesigning the interior.

Jackie Henry, senior partner at Deloitte in Belfast, said: “After a long selection process we are delighted to be able to announce the choice of Bedford Square as our new home in Belfast.

“It is a symbol of Deloitte’s commitment to this city that we have chosen a development which will breathe life back into one of Belfast’s beautiful but neglected heritage buildings, contributing to the regeneration of the city centre while at the same time delivering an exciting and flexible modern work environment for our increasingly diverse and connected workforce.”

She added: “Deloitte’s operations have been growing rapidly over the past few years, driven by increased requirements for our services across traditional areas such as tax, audit and consulting, but also our wider expertise in exciting new areas such as digital analytics, cloud services, cyber security and robotics.

“This new office will bring Deloitte’s expertise in Belfast together under one roof, which will foster even greater collaboration between teams and enable us to create a campus environment that is ideally suited to the agile and augmented jobs of the future.

“This significant investment reflects our confidence in Belfast and its high-quality talent base. Based on our current growth projections we expect to have 1,000 staff in Belfast by 2022, with over 400 of these new roles supported by the Department for the Economy through Assured Skills and Higher Level Apprenticeships. Given that growth trajectory we have also made sure we have the option to increase the space to accommodate up to 1,250.”

BT Offers Communities Chance To ‘Adopt’ Their Local Phone Box For £1 BT is offering communities the rare opportunity to adopt their local payphone kiosk for just £1 to transform unused kiosks into something inspirational for their local community.

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ith numerous payphone kiosks including 180 traditional red boxes available to be adopted across Northern Ireland, BT is encouraging community groups to seize the opportunity to do something wonderful with these phone boxes that often have little or no usage.

BT will continue to cover the electricity to the adopted kiosks, which can be

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turned into any exciting new ventures to benefit local communities – such as housings for defibrillators, mini-libraries,

coffee shops, miniature art museums, sweet shops and information centres.

One payphone in Devon was even turned into the “world’s smallest nightclub.”

Commenting on the launch, Paul Murnaghan, BT’s Enterprise division director in Northern Ireland said: “We are delighted to be announcing the launch of the Adopt a Kiosk Scheme in Northern Ireland.

“What better way to make use of our existing kiosks than to offer communities the chance to ‘adopt’ them in their local area and give them a new lease of life?

“It’s simple to apply and individual assessments will take place to confirm if the adoption is possible and whether there is availability in a specific area. The opportunities are endless and since we launched the scheme in other parts of the UK, more than 5,500 communities have seized the chance to do something

great with their local phone box.”

Communities can adopt a kiosk in Northern Ireland if they are a recognised local authority, such as a district or borough council, a parish, or town hall.

Boxes can also be adopted by registered charities or by individuals who have a payphone on their own land. With a large number of people in Northern Ireland now using a mobile phone, usage of payphones has declined by around 90 per cent in the past decade. The Adopt a Kiosk scheme allows communities to find new uses for kiosks to benefit local people.

For further details on how to apply to Adopt a Kiosk, simply log on to www. bt.com/adopt where application forms and information can be found.

For when organisations need organisation Without back-office brilliance and premium, specialist support staff, plans for an organisation’s fast-track growth will go nowhere, fast. That’s why the brightest, best and bluest of chip companies in Northern Ireland trust the only niche support services recruitment agency in the region. That’s us.

We’re here for when you need steady heads and safe hands to support your exciting ambition.

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Eye on Branding

The Foundation for Business Success Strategic branding, says Rick McKee, can deliver clear competitive advantage

It also explains the thinking behind The Foundation as the new name for the brand agency within Belfast marketing services group The Pierce Partnership, led by Managing Director Rick McKee.

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he Foundation works with the senior teams of organisations, helping them to address some of their biggest challenges through branding and marketing. Rick explains “Very few leadership teams we encounter lie awake at night worrying about their branding or their marketing. In our experience, their concerns are typically things like strategic direction, sales, cost-control,

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market penetration, customer retention, competition, efficiency, clarity & consistency, attracting talent, people engagement; all that stuff.”

A business studies graduate from Jordanstown in 1994, Rick started his career in the printing industry with Smurfit Group in Dublin and Belfast. “I hadn’t much of a notion what was going on at that point beyond the theory book, but my time in Smurfit

factories took me around quite a few departments in the office and factory floor. It was a great way of getting to grips with how parts of a business work together, but very differently from each other, in contributing to success overall.”

Following his time in Smurfit Group, Rick joined his late father Will McKee in training and development business Euroventure in 1996. He first became involved in sales and marketing when the business took a stake in digital start-up Tibus, which grew to be the largest digital agency on the island at the time, and owned by UTV Media plc, who bought the business in 2008. Rick’s tenure there in commercial roles, starting as ‘the sales guy’ in 1996, spanned 17

years including three years as Managing Director until 2013.

“My father Will, a huge influence on me, died in January 2013; whether that was a factor in my thinking or not I don’t really know, but I fancied a change of scenery and joined my brother John McKee in his consulting business Linkubator.

There I loved the challenge of working with senior teams of businesses, helping them with strategic and management development challenges; but after a couple of years, I concluded that the planning itself wasn’t enough for me – I really missed driving the execution of the plans, and wanted to get more involved again.”

“I met Chief Executive Robert

Eye on Branding Pierce through a mutual friend in late 2016. He was looking for someone to lead commercial development across The Pierce Partnership, we got on great, I joined the business in early 2017, and here I am.”

Working across the group’s three businesses, Rick leads the brand & marketing agency The Foundation as Managing Director.

He also works as Commercial Director with digital agency The Tomorrow Lab and print services business Printellect. There are synergies to this, as most client assignments in The Foundation benefit from the services of all three group divisions. With 35 people across the group, The Foundation has a team of 12; a mix of leadership, strategic, creative and delivery skills, all aligned to address client challenges.

Where does The Foundation come in? “Well, it’s important to acknowledge that we know we’re not the answer to every problem – but our approach of really understanding a client’s business, being prepared to challenge and dig deeper, allows us to devise branding and marketing programmes for clients that deliver on those things that keep them awake!”

Rick says the company’s most fulfilling work is often with companies in the business-tobusiness space. “Their customer engagement and sales process

tends to be more complex, involved and intensive, it takes longer, involves very different buyer types and decision structures, but usually a much tighter group of stakeholders. It’s not about spending their budget – many of these businesses don’t even have a marketing budget as such, and that means we need to make our case and stand over it at board level.”

McKee contends that investing in brand and marketing isn’t

Rick McKee, Managing Director, The Foundation

“For us, it’s asking the right questions.

Every organisation has a different set of needs and objectives, so there can’t be a cookie cutter approach to what we do.”

about a new logo, style, website or pretty pictures – it’s investing in delivering and maintaining success. “For us, it’s asking the right questions. Every organisation has a different set of needs and objectives, so there can’t be a cookie cutter approach to what we do, and we’re fortunate to have many great long-standing client relationships as a result.”

“I believe a lot of companies are great at marketing without necessarily realising it, because they simply know their customer really well. But getting an accurate view on maximising that, or following through and delivering on it, can be really difficult for some businesses, and we try to help where we can in both planning and execution.”

“A lot of the work we do for clients starts out with ‘branding’.

There are dozens of ways of defining brand, but for us, your brand is what people say about you when you’re not in the room. Yes, things need to be right visually, but there’s so much more that needs to be thought through for success to follow. That’s not just about customers – it also relates to staff engagement and attracting talent to your business – employer branding and staff engagement have been growing areas for us.”

And what about the brand of The Foundation, with a new start for a well-established business?

Rick says that he and his team try to keep it simple: “We focus on the why; really getting behind the brief with our clients. We try to deliver ‘wow’ for those we work with.

We keep in mind that it’s our job to help other people. And finally, like most businesses, we strive to be better. So we will do our best and let others say things about us when we’re not in the room!”

You can discover more about The Foundation at www.wearethefoundation.co.uk

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Eye on Investment

(L-R) Head of Financial Planning David Currie & Associate Director in Investment Management Ryan Cornett.

Cunningham Coates...

Historic Firm Stays At The Leading Edge Cunningham Coates might be based in one of central Belfast’s more modern office buildings, and it might well be a leading player in today’s wealth management marketplace, but it is also apparent that this is one of our city’s oldest and most historic companies.

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stablished as a stockbroker way back in the Belfast of 1843 by Josias Cunningham, the company has been celebrating its 175th anniversary throughout 2018. The family link continues with current partner Jonathan

Cunningham, the great-greatgrandson of founder Josias.

A lot has changed in Belfast over those 175 years, and a lot has changed too at Cunningham Coates. Today’s firm is about more than stockbroking and is more of an investment management and financial planning operation forming part of Smith & Williamson, an independent financial services group with over 1,700 people across 12 UK and Ireland offices.

Cunningham Coates employs a team of around 40 at its Belfast base, and the rich heritage of the company remains very

important to how it works and those who work there.

“Of course such a unique history and the culture it brings is a unique selling point for us,” says Associate Director Ryan Cornett. “Many of our clients are multi-generational with a number of the families we look after having been with the firm for decades. This has been a very solid and stable business over the years, but we certainly can’t be complacent. It is important that we look to the future and constantly develop our offering to make sure that our clients continue to receive a first-class service.”

Eye on Investment Cunningham Coates has a team of almost 20 investment managers in Belfast, backed up by support staff, and a dedicated Financial Planning team led by the firm’s Head of Financial Planning, David Currie. Around £1 billion is managed through the Belfast office, whilst the company is part of a broader group that has more than £20 billion worth of client funds under management in total. The Belfast firm became part of Smith & Williamson in 2002 and being part of the larger financial services group has brought significant benefits.

“Smith & Williamson’s systems and resources have helped to improve the services we can provide,” adds Ryan Cornett.

“They enable us to do what we do best. That is to build bespoke investment portfolios for our clients here in Northern Ireland.”

“There is both an art and a science to investment management, and our role is to be able to combine the two, to create the right solutions for clients who entrust us with their investments.”

Cunningham Coates works with a wide spectrum of clients across Northern Ireland, from private individuals to a range of local companies and quite a number of locally-based charitable organisations.

Cunningham Coates has strengthened its Financial Planning offering under David Currie’s leadership with the recent hire of Craig Routledge as a Senior Consultant, and his team works with Investment Managers to ensure that clients receive a comprehensive service.

“A lot of our work revolves around inheritance tax planning and, of course, pensions and pension management. Individuals

Financial Planning Team (L-R) - Craig Routledge & David Currie.

can benefit from a lot more freedom as far as pension choices are concerned, and that’s been an important part of what we do. Holistic financial planning is an essential part of what we can deliver to our clients,” says David Currie. “We’ll look in detail at every aspect of an individual’s circumstances and at the many different external factors that can have an impact, both now and in the future. It’s not always easy, but it’s a crucial part of the investment process here at Cunningham Coates.”

Both Ryan Cornett and David Currie are all too aware that investors have a lot of choice available to them when it comes to seeking advice, making decisions and buying investment products. “Investors can go online and have an investment made within a few clicks,” says Ryan Cornett. “For some customers out there, it might well offer a cost-effective solution but we take the view that investment decisions should be backed by the best possible professional advice.”

Investment management, at all times, has to operate against a background of global economic and political challenges. In this part of the world Brexit might

“There is both an art and a science to investment management, and our role is to be able to combine the two, to create the right solutions for clients who entrust us with their investments.”

loom large, but, as Ryan points out, it’s somewhat less significant in the global scheme of things.

“Of late, news of ongoing ‘trade wars’ between Donald Trump and the Chinese and changes in interest rate expectations in the U.S. have had a much greater impact on world markets than Brexit. Even within a U.K. context, any Brexit related volatility can provide investment opportunities of its own.”

“The old adage of “time in the market, not timing the market” rings true however, building a well-diversified portfolio and maintaining a long-term view of markets will ensure that any short-term volatility is of limited significance.”

RISK WARNING Investment does involve risk. The value of investments and the income from them can go down as well as up. The investor may not receive back, in total, the original amount invested. Past performance is not a guide to future performance. Rates of tax are those prevailing at the time and are subject to change without notice. Clients should always seek appropriate advice from their financial adviser before committing funds for investment. When investments are made in overseas securities, movements in exchange rates may have an effect on the value of that investment. The effect may be favourable or unfavourable.

DISCLAIMER By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication.

Details correct at time of writing.

Cunningham Coates is a trading name of Smith & Williamson Investment Management LLP (who provide investment management and banking services) and Smith & Williamson Financial Services Limited (who provide financial planning services) Registered in England at 25 Moorgate, London EC2R 6AY Both of the above entities are authorised and regulated by the Financial Conduct Authority.

19

Eye on Cover Story

The Retail Sector...

A LAWYER’S INSIGHT

Many retailers in Northern Ireland experienced a challenging 2018, prompting some to turn to their legal teams to help improve trading positions. Kieran McGarrigle, a Finance Partner at leading law firm Arthur Cox, provides a lawyer’s insight into the current climate on the high street and the use of legal processes by some retailers to survive.

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ompetition from online outlets, business rates, and restrictions on trading hours have all been reported as presenting trading difficulties for retailers throughout the past year. In Belfast city centre, these were exacerbated following the fire at Primark’s landmark Bank Buildings.

Commentary provided by economists, property agents, or representatives of businesses operating in the sector, provided useful insight.

However, the legal sector has also played a prominent role.

The Finance Team at Arthur Cox, headed by Kieran McGarrigle, has been amongst the most active legal advisers, working with investors, lenders and insolvency practitioners in dealing with some

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of the challenges and opportunities facing retailers and landlords.

Kieran said: “Last year was undoubtedly a particularly difficult one for the retail sector, with the shutters coming down on a number of household names such as Poundworld and Toys ‘R’ Us after the companies were placed into administration.

“In Belfast, the industry was also badly affected by the devastating fire at Primark, cutting off significant parts of the city centre from pedestrians during the crucial Christmas trading period.”

Kieran leads a team at Arthur Cox comprising some of the most dynamic and creative minds in the sector, including Partners Stuart Mansfield, Colm McElroy and Lizanne Jones.

Positive developments The team observed many positive developments, alongside the perceived dominance of business failure and legal processes to manage creditors, as Kieran explained: “One of the biggest talking points of last year was when Primark reopened in December. More than 1,000 shoppers were in the queue waiting to go through the

Eye on Cover Story

“Lawyers continue to be very active in the retail space, assisting some trading businesses in using legal mechanisms to manage or reduce liabilities, improve cash flow and stabilise ongoing trade.”

doors, illustrating not only how great a loss the store had been to the city centre, but also the strong consumer demand that exists when the offer is right.

“According to the British Retail Consortium, the year ended on a positive note, with Northern Ireland high street shopper numbers lifting by 4.1 per cent in December compared to same month in 2017.

“There were other welcome signs too. Jewellery chain Argento reported

record growth as revenues reached £52 million while Lunn’s announced plans to open a Rolex boutique in a newly revamped Queen’s Arcade as part of a £1m investment.

“Meanwhile, three fashion brands, Jack Wills, Guess, and Radley announced that they would open at The Boulevard (formerly The Outlet) in Banbridge which also reported a 25 per cent increase in turnover and strong growth in footfall last year.

“These developments, amongst

others such as plans by Subway to open a further eight outlets in Northern Ireland during 2019, and the seemingly limitless consumer appetite for new coffee shops, point to some good news stories for retail and an underlying resilience in the local sector despite the very challenging conditions.”

However, Kieran, who joined Arthur Cox in 2010, said some retailers are grappling with structural financial issues.

Active “Lawyers continue to be very active in the retail space, assisting some trading businesses in using legal mechanisms to manage or reduce liabilities, improve cash flow and stabilise ongoing trade.

“Working closely with tenants, landlords, and investors, we have seen three broad categories of retailers. Some have failed and ceased trading, others are

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Eye on Cover Story a functioning Northern Ireland Executive, Brexit and high inflation were negatively impacting spending during the third quarter of last year.

Kieran added: “It is also clear that retailers are dealing with a supply and demand trade off, with many operating in units that are simply too big to suit their current level of business.

“Given the amount of shopping that now takes place online, coupled with subdued demand from consumers, conditions may not improve for some time but those retailers that keep investing now will emerge stronger.

“Smartphones can be used at any time of the day or night to make a purchase instantly. Hence, those retailers that adapt their offering to meet the continued growth in online shopping stand a greater chance of having a more sustainable business model.”

Trends The Arthur Cox Finance Partner team, from left, Colm McElroy, Kieran McGarrigle (Head of Finance), Lizanne Jones, and Stuart Mansfield

fighting for survival and managing their creditor positions, and some are adapting positively to a radically changing market.

“In the case of one of the most high-profile examples, House of Fraser, it avoided a complete shutdown following a purchase of certain assets from the administrators by the Mike Ashley-owned Sports Direct.

The new owner is also reported to have entered into an ‘interim agreement’ with key landlord, Intu, to avoid the closure of four stores.

“Other household names such as Homebase, Mothercare, Carpetright and New Look opted to avoid administration and risk a complete shutdown of trading operations by ‘doing deals’ with creditors or, in some cases imposing deals on creditors, through Company Voluntary Arrangements (CVAs).

“A CVA is a proposal by a company to reduce its liabilities and reschedule the repayment of the liabilities which, if accepted by at least 75% of its creditors (by value), will be binding on all creditors. A creditor approved CVA can provide the retailer with some stability and breathing space, in the short term at least, by improving its balance sheet.”

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The struggles of some retailers have also prompted reactions from others trading successfully under the same roof, Kieran explained.

“There is growing speculation that where one retailer has sought to reduce and vary its lease covenant to a landlord, other neighbouring retailers will seek to place an obligation on their landlord to pass on the comparable terms to them,” he said.

“If one tenant’s rent is reduced through a CVA, some retailers are arguing that their rent should be no higher than the struggling tenant’s rent.

“This will certainly make negotiations with landlords for new leases or lease renewals more complex. Landlords are determined to resist this approach at present, but, over time, commercial pressure may be brought to bear on landlords to reconsider their stance.”

Caution The upward trend in struggling retailers has also caused most lenders and commercial property investors to be more cautious towards retail investment, Kieran said.

“For any investor with a retail

tenant, whether it is a large scheme or single unit investment, the strength of the rental contract is critical,” he added.

“Therefore, the possibility that this may be diluted, through the insolvency of that tenant and a lesser covenant then being imposed upon a landlord, whether or not they accept it, has understandably made investors much more cautious about retail investment opportunities.

“The same caution extends to lenders, when considering financing retail investment.

“A lender’s debt will typically be serviced from the rental income but what happens if that income is reduced or if it is not available to service the debt?”

Considering emerging trends over the next 12 months, Kieran sees more companies being placed in administration and the continued use of CVAs as a means for some to continue trading.

“This may cause some further instability. Investors and funders may continue to be cautious towards investment in the early months of 2019,” he said.

“However, there are also signs of retailers refreshing and reinventing themselves by harnessing innovation to meet changing consumer demands and behaviours.

“By continuing this process of rebirth as they battle to safeguard their businesses, retailers with a dynamic outlook, coupled with the right finance, will continue to grow and remain relevant to future generations.”

Demand While using legal processes may have helped some retailers address the more immediate trading issues by improving their balance sheets, the long-term prospects “are more likely to be shaped by consumer demand and behaviours,” Kieran continued.

The most recent Consumer Confidence Index, compiled by Danske Bank, reported that concerns over the absence of

The Finance Team at Arthur Cox is well positioned to advise businesses on the impact of emerging trends in the sector and on any aspect of banking and finance law in Northern Ireland. Call +44 28 9023 0007 for further information from Kieran, or your regular Arthur Cox contact.

Eye on Communications

Five Reasons To Consider Internet-led Communications Technology To Transform Your Business In 2019.

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he communications industry has advanced at an incredible rate over the last five years and has minimised the risk of your business communications failing through internet-led services. Incorporating the internet into all facets of your communications is a positive step for any business. An internet-led approach differs greatly to the traditional copper wires, making the classic ISDN network appear dated when compared to new business quality VoIP alternatives.

But what exact benefits does internet-led communications offer your business and why should you consider it to transform your business this year? Here’s our top five reasons.

1. The final countdown for ISDN has already started.

From daily office deadlines to Brexit – we’re all up to our eyes with deadlines.

A significant deadline is looming over the telecommunications industry too, the end of ISDN services. BT Wholesale plans to switch off the UK’s legacy ISDN phone line network by 2025, making this ageing network obsolete.

Interestingly, Openreach has not installed any new ISDN lines in central London since 2014, which goes to show their commitment to and the impressive adoption rate of VoIP services by businesses.

With this planned advancement in mind, there has never been a better time to consider the move for your business.

2. Every penny counts.

With VoIP using an internet connection, you can do away with costly ISDN lines and physical phone systems. This can help eliminate costly engineering calls, aging hardware, maintenance and the costs associated with productivity loss. In addition, it greatly reduces the costs associated with long distance and international calls, empowering a business to expand its business to international markets.

VoIP technology is incredibly sophisticated and of excellent quality

You already understand how important communications are to your business’ productivity and efficiency.

When it comes to the communication technologies that support your business, even the smallest disruption can result in substantial upset to your day.

By Stuart Carson, Rainbow Communications

and so much better than the traditional phone systems you might be more familiar with. A better product, for lower price? Surely it’s a no brainer.

3. Team work makes the dream work.

VoIP services offer advanced telephone features seamlessly such as conferencing, do-not-disturb and instant messaging, helping business transform their internal.

Employees can communicate with one another via the touch of a button and office managers and receptionists can easily see when employees are available or already on a call.

that culture is incredibly important to a company’s legacy and brand image.

After all, how can you describe yourself as dynamic and caring of your staff if you’re still relying on dated technology?

When culture goes bad staff-turnover can increase and along with being costly to replace employees, your customers suffer.

Flexibility is one of the biggest selling points to today’s workforce and VoIP offers it by the bucket load. It takes the ‘office call’ out of the office allowing calls direct to the office to be answered at home and allowing your employees more opportunity to work on the move – provided an internet connection is available.

5. First class customer service.

4. Improved company culture and flexibility.

Company culture includes a variety of elements including first and foremost the day-to-day working environment, along with how a company’s values relate back to employees. We all know

Hiring an expert team to look after your transition to VoIP will, in the long-term lead to them carrying out comprehensive security risks assessments and offer 24/7 access to support, and software updates. All of this relates directly back to your productivity and efficiency

delivering a better customer experience.

In addition, premium VoIP features can create excellent customer optics.

For example, you can choose ‘on-hold’ music that is relevant to your audience.

Auto-attend allows callers to choose the right extension by interacting with a personalised voice recording, and calls can be recorded to ensure an ongoing high quality of service.

With so much change on the horizon, now is the right time to make a call on whether your current phone system is the best for your business in the long run.

Stuart Carson is Sales and Marketing Director at Rainbow Communications, Northern Ireland’s largest independent telecom provider. For more information on its full range of services, including bespoke solutions, visit www.rainbowcomms.com

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Eye on Leadership

Tina McKenzie...

Spearheading Grafton’s Stellar Growth It’s a bit hard to imagine a Northern Ireland business scene without Tina McKenzie as one of its key players. Yet, when she returned to her native Northern Ireland just over five years ago to open Staffline Group’s first office here, she found it hard to break into the local business community.

“B

ack then, we were a twoperson operation with a brand name that was big in GB, but no one had really heard of us over here, so we had to start from scratch in more ways than one,” she says.

Things are a little different now. That fledgling Belfast office has turned

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into the region’s largest recruitment group by some distance, one that has swallowed up a couple of the leading local names in the marketplace and a business that is heading for a £175 million turnover this year.

It still forms part of the Staffline Group Plc, a London-based business with

revenues of £958 million, a healthy pre-tax profit at the last count of £24 million and a confirmed status as the No. 1 recruitment industry player in the country.

Locally, it isn’t known as Staffline any more. Following on from the acquisition of Grafton Recruitment last year, the Northern Ireland business is striding forward under the well-established and respected Grafton brand name across both of its main divisions – its Recruitment business and its People Plus apprenticeship and training operation.

“We’ve worked hard to grow the business over the past number of years,” says Tina McKenzie. “Staffline has its particular strengths in areas like food, hospitality and retail and we’ve worked

to develop those in the local marketplace.

But we’ve added a strong white collar element to Staffline’s blue collar pedigree and we’re active in areas like contact centres, banking and financial services.”

Grafton Recruitment hasn’t been the only acquisition by Tina McKenzie and Staffline Group Plc over the past couple of years. The group bought Diamond Recruitment, once a leading player in the marketplace here, and has also made further acquisitions both north and south of the border.

“We’ve also been growing organically at the same time,” Tina McKenzie hastens to add. “If we weren’t producing the right kind of numbers, my board of directors might not be so keen to sanction the acquisition investments we’ve been making.”

Staffline NI, as it was, produced an £80 million turnover last time around.

Combined with Grafton’s turnover, this year’s figure will be around £175 million.

That makes the business a big operation indeed by Northern Ireland standards.

Eye on Leadership “It also means that we’re well poised for further growth, particularly in the Republic of Ireland, where we see a lot

that there is demand for temporary

a few years ago, Tina McKenzie has

staff like there has never been before.

returned to the cut and thrust of public

between a sizeable business with

“We don’t look upon ourselves as

But how does she split her time

life more recently as Northern Ireland chair

hundreds of employees and multiple sites

of growth opportunities. Once again,

recruiters plain and simple. We manage

of the Federation of Small Businesses. In

in addition to her FSB responsibilities.

that growth will be organic, but we’ll

workforces on behalf of our clients. And

that role, she’s become a highly effective

It’s a lesser known fact that she’s

also be looking at some very strategic

the world of work has changed. It’s not a

spokeswoman for business interests here.

also the Honorary Consul for Finland

acquisitions, and it shouldn’t be too long

9-5 environment any more. If someone

before we have some news on that front.”

Recently, she was one of the prime

here in Northern Ireland, building on

has the right skills and wants to work from

movers in the business community’s

a connection with Finland that she’s

4 pm to 8 pm every day, then we’ll find

response to both the lack of an

built up over years in business.

marketplace, she says candidly, remains

them somewhere where they can do just

administration at Stormont and to the

fairly flat. “I think that recruitment,

that. That’s what this business is all about.

Brexit negotiations as they will impact on

team of four managing directors who

this part of the world and its economy.

look after the distinct divisions of our

The Northern Ireland recruitment

and the temporary staff sector in

“But we also have to face up to the

particular, is a very good barometer

challenges out there. The figures

of the economy as a whole.

show that Northern Ireland still has

be easy to argue that she has played

and to have a really strong team of

a high proportion of economically

a leading role in shaking up a network

managers right throughout the group.”

inactive within its population.

of business organisations locally who

“I had an old boss in my days with Randstad (one of the world’s bigger recruitment and HR consultancy firms)

“There could be 50,000 vacancies on

In fact, going a little further, it would

“I’m very fortunate to have a great

business here in Northern Ireland,

Looking to the future, Tina

would have been reticent in the past to

McKenzie says that it will be

dirty their hands in political waters.

dominated by further growth.

who used to plot the progress of the

the list here at any one time, but a lot of

recruitment marketplace and the global

those vacancies simply won’t be filled,

economy on the back of a roll of wallpaper.

often because people don’t want to

she smiles. “It’s really good to be able

this year, but we want to go a lot further

The similarities were uncanny...

“I’ve enjoyed the role....I really have,”

“We will reach a £175 million turnover

give up benefits and risk the roof over

to speak up for business and to help

than that. The largest player in the

“While we’re flat up here, the Irish

their heads for a shot at employment.

get a really important message across

economy is anything but. We’ve seen

“It’s a situation that has to change.

all-Ireland recruitment market has a turnover of €450 million, so our target is simple. We want to hit the €500 million turnover mark. It might sound a bit ambitious....but we think we can do it.”

that we are the wealth creators and the

some very significant job announcements

A new approach, particularly to youth

driving force behind the economy. And

in recent weeks, the minimum wage has

unemployment, is badly needed.”

it’s been good to be able to get right

risen above €9.50 and there’s no doubt

Following a brief involvement in politics

through to the heart of government.”

25

Eye on Tax

Tax Saving Resolutions Income Tax band you are in, with basic rate taxpayers entitled to a £1,000 allowance, while higher rate taxpayers receive a £500 allowance. Additional rate taxpayers are not eligible for a PSA.

Keeping it in the family

It’s a good time of year to start planning your tax affairs before the end of the tax year on 5 April. We can help start you off on the right financial footing for 2019.

T

ax planning might not sound very exciting, but it can have a dramatic effect on your personal finances, as there is still much that can legitimately be done to save or reduce tax.

Here we’ve provided some of the areas you may wish to discuss with us, if appropriate to your particular situation.

each year while still getting tax relief. For the 2018/19 tax-year, for most people it’s £40,000, or the value of your whole earnings – whichever is lower.

Depending on your circumstances, you may be able to ‘carry forward’ any annual allowance you haven’t taken advantage of in the three previous tax years.

Topping up your pension You’ll receive tax relief at the basic rate of 20% on contributions made to personal and workplace pensions. So, for every £80 you pay in, HMRC will top it up to £100. If you’re a higher or additional rate taxpayer, you can claim back up to an additional 20% or 25% through your self-assessment tax return.

Watch out for the annual pension allowance. This is the limit on the amount that can be contributed to your pension

26

Taking your ISA to the max One of the easiest ways to reduce your tax bill is to shelter any returns above your allowances in an Individual Savings Account (ISA). For the 2018/19 tax year, you can put up to £20,000 into an ISA. For a couple with two children, the total ISA allowance available to the family is £48,520, which comprises £20,000 for each adult plus £4,260 of Junior ISA allowance per child.

Getting personal with your allowance Everyone has a certain amount of income they can earn each year without paying Income Tax, known as their ‘personal allowance’. For the 2018/19 tax year, this amount is £11,850, for the 2019/20 tax year it’s £12,500.

“Watch out for the annual pension allowance. This is the limit on the amount that can be contributed to your pension each year while still getting tax relief.”

Your personal allowance is in addition to the Personal Savings Allowance (PSA). Since April 2016, savings interest has been paid taxfree, which means that most savers no longer have to pay Income Tax on the savings income they receive.

Your PSA depends on which

Your estate is chargeable to Inheritance Tax (IHT) at 40%, although the first £325,000 nil-rate band (NRB) is exempt. Anything that goes to your spouse is also exempt.

Married couples and registered civil partnerships can benefit from an additional family home allowance, making it easier to pass on the family home to direct descendants without incurring IHT charges.

The residence nil-rate band (RNRB) can reduce the value of your estate that is subject to IHT at the full rate of 40%.

The RNRB is set-off against the value of your estate ahead of the NRB, and the maximum RNRB amount allowed on a death in the 2018/19 tax year is £125,000.

Current tax rules also enable you to give away up to £3,000 free of IHT each tax year. You can give away more than this amount if you want to, but you must live for at least seven years from the date of the gift for it to be exempt from IHT.

Taking control of your finances Taking control of your finances is a great feeling, so if you would like to discuss any aspects of your financial plans, please speak to Fairstone on 02892 605 088 or email info@fairstoneni.co.uk – we look forward to hearing from you.

Information is based on our current understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from, taxation are subject to change.

The value of investments and income from them may go down.

You may not get back the original amount invested.

Eye on Tax

Grant Thornton Tax Team At Forefront Of Firm’s Exponential Growth

Richard Gillan, left, Managing Partner, Grant Thornton Northern Ireland and Peter Legge, Tax Partner

Peter Legge, Tax Partner at Grant Thornton, reflects on a continued period of growth for the leading business advisory firm’s tax team, with revenue quadrupling over the past four years.

G

rant Thornton in Northern Ireland has enjoyed a sustained period of growth over recent years, symbolised not least by the firm’s move, just over a year ago, to iconic new offices on Donegall Square West in Belfast city centre.

The relocation to the landmark DSW Building followed exponential growth across all business service lines within the firm, with revenues having trebled and the workforce doubling in size within three years.

The move to Donegall Square West has acted as a

catalyst for further growth.

Key to the continued growth has been the success of the Grant Thornton Tax practice which, under the leadership of Tax Partner, Peter Legge, has seen revenues increase fourfold in the past four years.

Peter joined Grant Thornton in 2005 and now forms part of a dynamic Partner Team, led by Managing Partner Richard Gillan.

Peter said: “It has been great to be involved in the transformation that the firm has experienced over recent years. I am particularly proud

of the rapid growth realised within our tax practice and the high calibre of experience and expertise that now exists across our team. Through both in-house development of existing staff and further recruitment of specialists who have an in-depth knowledge of niche areas within tax, we continue to provide clients with meaningful, value-added and forward-looking advice.”

Experience Peter has assembled a market-leading team, which

27

Eye on Tax

Grant Thornton Tax Partner Peter Legge, third from left, leads a team that includes Directors, from left, Lee Squires, Alan Gourley, and Mark Bradley

includes Directors Mark Bradley (specialising in Corporate Tax), Alan Gourley (Private Client Director), and Lee Squires (Director of Indirect Tax).

Peter continued: “For me, it has been about bringing together the best people with the experience to provide sector-leading services against the backdrop of what is an increasingly complex tax world.

“Within the last six months, we have brought in Alan and Lee to our team of Directors which has served to significantly strengthen our offering.

“Alan comes with more than 25 years’ experience across practice, industry and the public sector. With a focus on High Net Worth Individuals and family businesses, he is one of Northern Ireland’s most respected advisors on income tax, capital gains

28

tax, inheritance tax and succession planning.

“Meanwhile, Lee joined us from an international law firm in London where he had led its VAT and indirect tax practice.

An expert on VAT, customs and excise duties and stamp taxes, Lee has also played a key role in our Brexit advisory team.

“We have also enhanced the tax group, bringing in additional senior expertise to our specialist R&D, Capital Allowances, International Tax, Payroll and Employer Solutions teams.

“Our Tax service is of course just part of Grant Thornton’s multi-disciplinary offering.

Alongside our core Tax, Audit and Advisory service lines sit a Brexit consultancy, People and Change consultancy, Cyber Security, Forensics, Corporate Finance and Restructuring teams.”

UK and Ireland dimension A UK tax team, which maintains close links with Grant Thornton UK, the Belfast tax practice is also an integral part of the allIreland organisation, thereby offering clients the “best of both worlds from an Irish and UK perspective”, Peter explained.

“Given our position as a team based within the UK, but as part of the wider Grant Thornton Ireland partnership, we are uniquely placed to provide joined-up and co-ordinated advice to clients on both their UK and Irish tax matters,” he said.

Central to the success of the tax team is the direct involvement of the Partners and senior personnel with clients.

Peter added: “For me, it’s not just about winning the business and then moving on to the next proposal.

It’s about being actively involved and having a genuine interest and desire to secure the best possible outcome for clients.

People come back to us because of the level of service we provide – at Grant Thornton we will always “go the extra mile.”

Continued growth Looking to the future, Peter sees continued expansion: “We experienced significant growth throughout 2018 and are forecasting further growth of 25 per cent this year. The investment in our new offices reflects our ambition and drive, not just as a Tax team, but also as a practice.

“Although we already have more than 100 people working at Grant Thornton in Belfast, that number is set to increase considerably following our recent announcement of 48

Eye on Tax

new roles, with the assistance of Invest Northern Ireland.

“The Tax team itself now comprises 40 and we recently welcomed a new intake of graduates, while our internship programme annually attracts the best young professionals in the region.

“There is no doubt our success has been enabled by an ability to attract the very best talent in the market - we focus not only on recruiting but also rewarding talent. Individuals want to work for us because we empower them with the tools and support necessary to fulfil their own ambitions.”

Developments Peter added: “Of course, this year, Brexit will once again dominate, and we will continue to work with companies

in the lead up to the UK’s exit from the European Union and beyond, as we have done since the referendum was announced.

“However, it is by no means the only major change that is on the horizon in 2019.

“Making Tax Digital for VAT is set to go live from the beginning of April meaning all companies will be required to maintain records digitally and submit returns either directly from their accounting software, or via Application Program Interface software linking spreadsheets to the HMRC system.

“In addition, as the battle for talent intensifies, we are seeing an increasing demand for our Equity Reward services as local businesses seek to offer key employees a stake in the business as a means to align their goals with the company’s ambitions.

“Other changes in the most recent budget that we are advising clients on include the rise in Annual Investment Allowance to £1 million and the amendments to the qualifying conditions for Entrepreneurs Relief to apply on disposal of a business asset.”

As the requirements on businesses and individuals in relation to their tax affairs evolve, Grant Thornton’s team, having an expert knowledge of the tax regimes in the UK and Ireland, will continue to provide industry-leading advice to clients across all sectors.

Peter added: “Tax requirements are constantly being updated and we must adapt in order to ensure our clients continue to receive the best possible advice.

“We believe in finding the one reason why you should do

something, rather than allowing the five reasons you shouldn’t, stop you in your tracks.

“That fits in with the Grant Thornton ethos of ‘doing things differently’ which I believe has been, and will continue to be, key to our success as a Tax team, and as a firm, operating at the heart of Northern Ireland.”

For further information or advice, contact Peter Legge at peter.legge@ie.gt.com or call +44 28 9587 1050.

29

Eye on Law

2018 – A YEAR TO REMEMBER Michael Neill and Sam Corbett from A&L Goodbody reflect on a busy year for the firm’s Restructuring and Insolvency department which has become the go-to team for contentious restructuring and insolvency cases.

30

Eye on Law A&L Goodbody’s (ALG) Restructuring and Insolvency department doesn’t normally like to talk about its achievements.

Ordinarily, the team in Belfast like to keep their heads down and get on with the business of handling sensitive, complex and demanding cases, letting the results do the talking.

However, the end of one year and the start of another often sees pause for thought, even in the busiest practises. It was during this period of reflection that it became clear the firm had a key role to play on all of the main restructuring or insolvency cases in Northern Ireland in 2018 – including the only PLCs to enter formal insolvency processes last year, Johnston Press PLC and Carillion PLC. In a 12-month period there were at least nine cases which fell into the “significant” category. Of the nine cases, most hit the press. Given the nature of the work, some necessarily did not. Landing leading roles on every one of them was quite an achievement.

Michael Neill, Head of Corporate Restructuring and Insolvency at ALG said the work flow reflects the confidence which clients have in the team.

It’s a confidence which has grown since ALG opened in Belfast over a decade ago.

“The quality of the work which we are consistently being assigned is testament to the ability, commitment and professionalism of the

McErlain’s Bakery The rescue of the business behind the Genesis Crafty brand of bakery products is a good example of a quick and efficient turnaround by ALG’s Corporate Restructuring and Insolvency team.

The first call indicating the pending insolvency of the firm – which supplies breads, buns and cakes to UK supermarkets - came through to Sam on an urgent basis last August and it was all hands to the pump, in conjunction with EY, to handle the administration and the sale of the business out of Administration.

A buyer had been found for the Magherafelt business in the shape of Paul Allen and within the timescale of ten days the deal was completed.

That swift action saved 260 jobs and allowed supplier contracts to be maintained. And, shortly after the rescue deal, the new owners announced it was creating a further 40 jobs.

“McErlain’s is a strong example of how the team can handle difficult and sensitive cases in a highly competent manner in a short time scale,” Sam said. “It’s particularly pleasing that a buyer was found for the business and the best possible resolution achieved for all involved.”

team,” Neill said. “That is a reputation which we have quietly built up over the last few years, not by shouting about it but by proving we can repeatedly perform to the highest standards.”

“Our client base is knowledgeable and sophisticated so when they are faced with something of real importance, something which will have a significant impact on the future of a business, they’ll turn to us. You only have to look at some of the cases we’ve worked on over the last year as evidence of that.”

Sam Corbett, who works closely alongside Michael in leading the Restructuring and Insolvency team, agreed, pointing to the strength in depth within the team being one of the main draws for clients.

“What differentiates us from our competitors is the quality of the people we have operating within our team and working alongside us within the firm.” A phrase which is oft-repeated but rarely proved. ALG has, however, repeatedly proven their excellence when handling the kind of work which is precedent setting.

Sam said: “Often when clients come to us there is a crisis or urgent advice is required.

They need a law firm which is able to instantly embed itself in their issue. Our team has done just that on countless occasions, rolling their sleeves up and getting under the skin of the problem from the off.”

In fact, this is best illustrated from a quote from the leading legal directory, Chambers UK, which placed the team again in the top tier for the ninth consecutive year, commenting: “They’re unique in that they’re so collaborative.

They are all grouped together to solve the case for us. It’s rare to find that level of attentiveness”.

Given the nature of the work, ALG is often assigned to cases which are of such a sensitive nature they have to remain confidential, but there are some over the last year which have been in the news already and provide good examples, two of which can be seen in the adjacent columns.

The team itself is made up of a wide range of experience, one which is being added to with each additional case.

As well as Michael and Sam, it includes Ross Kane, Aine Hughes, Tanya Surgeon, Jennifer Brannigan and Dean Barr.

All are highly-skilled lawyers, living and breathing the work which is presented to them and, while individually excellent, form a team with an unmatchable skill base and focus.

Michael commented: “We have built a tight knit team which we are really proud of and which we have been able to rely on time and time again to produce the best possible results for our clients.

The last year has undoubtedly been busy but we are looking forward to another productive year.”

Johnston Press The pre-packaged sale of the entire business and assets of Johnston Press PLC and its vast amount of subsidiary companies across the UK was another prime example of how the ALG team are adept at dealing with extremely complex cases involving multiple stakeholders and issues in a number of jurisdictions.

The owner of The News Letter, Scotsman, the i newspaper and a number of other titles, was unable to refinance a £220m bond which was due to expire early this year.

The value of the Group was such that the only solution was the pre-packaged administration process transferring all of the business and assets of the group to a new company owned and funded by the bondholders. This preserved the jobs of all of the Group’s employees and ensured the continuation of the business as a going concern.

The case was heard in the High Court in London, the Court of Sessions in Scotland and High Court in Belfast, much of which occurred over a November weekend. The work, of which the team at ALG played an integral part, meant the business could continue trading, saving hundreds of jobs both in Northern Ireland and further afield.

Commenting on the administration and sales process, Michael said: “This deal, which was executed over a weekend, resulted in the survival of the business as a going concern and minimal disruption to its suppliers / customers. The team worked extremely hard alongside expert terms in the UK to deliver a seamless transaction across three jurisdictions.”

Other key cases in 2018: 1. The Liquidation of Carillion PLC. 2. The Administration of House of Fraser.

[3. The Administration of certain companies within the Lagan Group.]

4. The Administration of Williams Industrial Services.

5. The pre-packaged sale of American Golf.

6. The CVA for Homebase.

7. The CVA and Administration of Toys “R” Us.

31

Eye on Transport

Paddy Anderson...

Steering Translink’s Investment Agenda It’s hardly surprising that Paddy Anderson commutes from his East Belfast home to Translink’s offices in the centre of Belfast by public transport. Or by the Glider, to be more precise, a tangible and visible symbol of Translink’s ambition to transform public transport here.

T

he Glider, which links East and West Belfast via the city centre and also runs out to Titanic Quarter, is the most significant change and investment in public transport here in recent years. Funded by the Department for infrastructure, it cost £90 million all in all, taking in vehicles, ticketing, shelters and all of the preparatory road works.

But it’s by no means the only one. In his role as Chief Financial

32

Officer, Paddy Anderson welcomes the investment and is, naturally, very focused on the returns.

What’s important from a Translink perspective, as Anderson is keen to emphasise, is that the investment in public transport is paying off. More and more people here are choosing to use it.

“Last year, we saw 81 million passenger journeys on Translink services, the highest number in the last 20 years,” he says. “Journeys

on Metro and Goldline services were the highest ever recorded, and NI Railways journeys were the highest in its 50 year history.

“It delivers on the challenge laid down to us in the draft NI Executive Programme for Government, which was to increase the use of public transport.

“We have a simple vision – to be your first choice for travel in Northern Ireland – and four key objectives, operational excellence, value for money, customer satisfaction… and of course, passenger growth.

“We’re on target to increase those overall passenger journeys again this year, helped by the fact that we have Glider up and running. We’re

achieving really good growth in the numbers using Glider, 20% or around 30,000 passengers per week. We simply couldn’t achieve this growth rate with a sub standard product, and that’s why it is crucial for us to keep up the pace of investment.”

Paddy Anderson underlines the importance of technology to all that Translink is doing at the moment.

The new Glider ranks as a high-tech vehicle with its eco-hybrid engine, spacious interior and innovative features, and the Glider shelters include state of the art ticketing technology as well as RTPI, real time passenger information, screens.

Anderson is leading the charge on the £45 million investment in

Eye on Transport

next generation ticketing, aimed at introducing an integrated ticketing platform which will introduce contactless technology across the board, bringing ticketing on to mobile platforms and phasing in systems similar to London’s Oyster Card.

“The new Ticketing system is all about simplicity and accessibility for our passengers. We’re setting out to make it as effortless as possible for the public to use our services and get to where they want to go. Alongside ticketing, RTPI will continue to play an important role going forward..... so passengers can use their phones to check when a bus or train is due then buy a ticket and get on board.”

Translink, he says, sets a high bar right across its transport operations when it comes to customer service standards. “We strive to deliver the highest standards of customer service – it is something that we reinforce to all our staff, whether they’re working in our stations or on our trains or buses.”

Then there’s the small matter of the fares themselves. Translink has to work to ensure that fares are pitched at the right level to maintain and grow passenger numbers. And that’s probably not as easy as it sounds.

Moving across to the NI Railways network, Translink announced in December that it has signed a £50 million contract with Spanish rail manufacturer CAF to supply 21 new train carriages for the network. The new rolling stock will arrive by 2021 and will help to accommodate the growing number of passengers using trains.

Two of the group’s biggest investments on the horizon will

be new transport hubs in Belfast and Derry~Londonderry. The Belfast Transport Hub, awaiting a planning decision, sets out to create a world-class transport interchange and surrounding master plan development (Weavers Cross) based on the site of the current Great Victoria Street Station/Europa Buscentre.

“Belfast Transport Hub / Weavers Cross is hugely important for the region,” he says. “In transport terms, it will provide a gateway to Belfast, a main bus and train connection point and the main rail link to Dublin, including direct connections to all major airports. It will give us the additional capacity we need at the station. The Weavers Cross development is a very significant commercial opportunity and has the potential to transform and regenerate the area around it.

He continues, “I’m very focused on improving the commercial returns from our stations and wider estate. The investment at Belfast

Transport Hub and development at Weavers Cross provide us with a great opportunity to build on a number of successful initiatives which are improving our commercial performance. We have engaged with a number of commercial partners to help us drive this agenda forward.

In the North West, the former listed Waterside Railway Station in Derry-Londonderry will be restored and form part of an innovative multi-modal Transport Hub serving the city and region.

“We’ve already introduced an hourly Belfast to Derry~Londonderry train service which is proving very popular. Again, the new hub will give us additional capacity and integrate with a variety of local bus service connections,” explains Paddy Anderson.

Another significant investment is underway on the North Coast, on the new Portrush Train Station, which will be redeveloped in time for The 148th Open which takes place at nearby Royal Portrush this July.

Back in Belfast, the old Central Station has been given a facelift and re-named Lanyon Place Train Station, reflecting the surrounding area’s ongoing development.

The Belfast-Dublin Enterprise train service will depart from and arrive at the new Belfast Hub when it opens and the two partners involved, Translink and Irish Rail, have said that they’ll work towards an hourly service on the route and a reduction in the current journey time to just under two hours.

“Around 3.3 million people, or half the island’s population, live within a 40-mile commute of the BelfastDublin corridor so it’s easy to see that the potential here is huge.”

A Chartered Accountant, Paddy Anderson joined Translink as Chief Financial Officer in 2015. In addition to overseeing all aspects of finance, Paddy is responsible for the Group’s commercial property portfolio, ticketing technology and procurement.

On the procurement front, Translink is holding a Supplier Engagement Event in partnership with InterTrade Ireland at Titanic Belfast on Tuesday, 26th February, 2019.

Potential suppliers will have the opportunity to engage with Translink decisionmakers across the Group’s key business functions. For more details or to register visit www.intertradeireland.com/ selltotranslink and follow @Inter_Trade @Translink_NI #sell2translink

33

Eye on Recruitment

Digital Recruitment Service Launched In Belfast With Global Ambitions It’s not CV, it’s SeeMe

One of Northern Ireland’s most experienced recruitment industry entrepreneurs has teamed up with a senior tech industry exec turned inventor to launch a revolutionary new digital end-to-end recruitment service.

G

ary Irvine, founder of Diamond Recruitment Group and 4c Executive, is working alongside entrepreneur and lean production expert Johnny Matthews to launch SeeMe, a highly effective and innovative platform that matches candidates to vacancies via a unique community of job seeker and employer users.

Candidates, who will be able to download the SeeMe app free, create their private profile using a straightforward LinkedIn style template and can

34

then keep their job seeking status up to date via the app that generates their own personalised job board.

Organisations, who will pay for the service, can post job opportunities along with a wealth of details to showcase themselves, including video content and receive single formatted applications along with percentage matches as created by the SeeMe algorithms.

SeeMe was given an official launch at Belfast’s W5 recently, an event attended by more than 150 key industry players and company representatives.

As the man who led Diamond Recruitment through to its height as a £40 million turnover operation before establishing 4c, Gary Irvine does not have a lot to learn about the fundamentals of recruitment.

“I do know that attracting and recruiting the right candidates to your company can be really tough, as well as how it’s easy to feel that your valuable time is being wasted by looking at the wrong CV’s or interviewing people who just aren’t suitable.

“On the other side of the coin, I’m well aware of the frustrations faced by candidates, who worry about having to create a CV or complete an application form and have trouble finding out information about organisations who have

vacancies and their recruitment process.”

“When Johnny got in touch with me about the idea, I have to be honest and say that I wasn’t expecting too much before we met up. But, when SeeMe was first demonstrated to me, I knew right away that this really could be a game changer.”

Both men emphasise that Northern Ireland, will ultimately make up for only 1% or so of their total potential marketplace across the UK & Ireland. They envisage a 3-month period to establish SeeMe in the local marketplace, an ideal test bed for future growth, followed by a move into the Republic of Ireland, then an expansion into GB over the following 15 months and, from there, to the US, Europe and beyond.

“We are absolutely certain this is the logical next step for recruitment, where things haven’t really changed much since the introduction of online job sites back at the start of the millennium. The job sites took the whole process out of print media and online, but they really haven’t developed much at all since those early days,” adds Johnny Matthews.

“The recruitment market is ready for a spot of innovation and to align itself with the digital age” Gary Irvine, meanwhile, might have a strong recruitment agency pedigree, but he sees how

Eye on Recruitment

the agency process can slow down candidates applying for and being appointed to roles.

“Many agencies do a really good job, but they largely act as brokers, and there’s no doubt that it slows the whole process down for candidates and employers alike. What’s more, the competitive market means that agencies are fighting over the same people, the same employers and the same jobs. Job seekers, especially passive job seekers, fear the process and often do not apply because there are excessive barriers to entry; the process is often onerous and risky at best.

“There’s still a place for traditional recruitment methods, but our new product moves well beyond those. It’s almost instantaneous, it’s interactive, it’s pleasurable to use, its compliant, its accessible and it’s effective.”

From the candidate perspective, SeeMe seems to be something of a no-brainer. Millennials (16-35 year olds), by their nature, dislike traditional CV’s or application forms and prefer to do everything through their mobile app. On the SeeMe platform, the profile section is social media-based and a whole lot easier, allowing candidates to upload video and photo content alongside their credentials. Once a profile has been created, it is easy to update and it is even easier to manage. Once registered on SeeMe, no one knows you are there except yourself and until you decide to apply for a role with an employer.

“Candidates can look at available jobs that match their profiles at any time of the day or night...and they can apply for jobs on the same basis. It really is as easy as that,” adds Johnny Matthews. “Apply at the touch of a button, the application goes straight to the employer as a SeeMe standard formatted profile, and from their perspective, each applicant is ranked by suitability according

to their job title, industry experience, salary expectations, distance they are willing to travel to and for work and, most importantly, their skills” A former Royal Engineer, Matthews transferred to industry and trained in production technologies with Bombardier before moving to Airbus UK, before another career diversion took him into the world of finance where he went on to become a Director for Personal Insolvency with Grant Thornton.

“It was only when I started to engage with the recruitment industry that I started to realise that it wasn’t easy for either companies or for candidates,” he says. “So, I started to look in more depth at the process and at the frustrations and barriers on both sides. I knew a bit about the employer journey, but I had to spend some time understanding the business from a candidate perspective. SeeMe has developed from that... with two years of research and hard work in between.”

The final product is all about simplicity – a simple ‘boarding process’, as Irvine and Matthews call the first steps for either candidate or employer, easy to use templates and an easy to use interface for users, whether they are employers or jobseekers.

In addition, there is a lot of functionality built in.

The ability to build in video content – messages from CEO’s, site tours, interview scheduling, interview scoring, job offers etc – is a major plus for companies, especially those working to attract new talent. SeeMe truly allows the employer to manage the recruitment process end to end. They can also completely remove any risk of conscious or unconscious bias from the recruitment process by utilising the SeeMe Diversity Ambassador module, a truly revolutionary function that ensures talent is recruited purely based on merit.

“What’s more, SeeMe gets around the old

problem for candidates of applying for jobs via the job boards and then having to field phone calls at their places of work, not only from potential employers but also from recruitment agencies.

Our platform ensures that it’s all confidential and that’s how it should be,” adds Gary Irvine. SeeMe empowers the job seeker by giving them the ability to engage directly with the employer.

Moreover, even if a candidate does not land the job, practical feedback is easily provided through SeeMe from the employer at each stage. “As things stand, our research showed that 32% of candidates applying for roles didn’t even get a phone call to tell them that they’d been unsuccessful.”

“With SeeMe, it’s a relaxed process. Create your private profile and when you hear the ping of the app, have a look and see what you think. If you decide to apply, it’s a confidential process,” says Johnny Matthews. “If you’re an employer, SeeMe will maximise the exposure of your role or roles to as wide an audience as possible whilst helping to avoid the time-wasting aspects often associated with traditional recruitment methods.

Simply put, SeeMe will transform how job seekers find and secure work into the future and it will transform how employers attract and secure employees into the future. It will give job seekers a much-needed sense of empowerment and enable employers to recruit staff in an efficient and compliant manner and at a fraction of the normal cost per hire.

W: SeeMeHired.com E: info@seemehired.com T: 028 9039 4021

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Eye on News

Tourism NI calls for entries to Northern Ireland Tourism Awards 2019

Murray Watt, Regional Director, EMEA, visits Belfast ahead of the Baker Tilly International’s EMEA Regional Conference in May. He is joined by Joanne Small, partner at Baker Tilly Mooney Moore (left) and Rachael McGuickin, Director of Business Development at Visit Belfast.

Tourism NI has launched this year’s Northern Ireland Tourism Awards alongside event sponsor Diageo.

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ourism businesses across Northern Ireland are being encouraged to enter the awards which will take place in May. The Northern Ireland Tourism Awards will recognise and reward excellence, best practice and innovation by tourism and hospitality businesses from across the country over the last twelve months.

This year, businesses have the opportunity to compete for eleven categories ranging from

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Authentic NI Experience of the Year and NI Tourism Entrepreneur of the Year to Best International Experience of the Year and Most Impactful Digital Innovation. The full list of categories can be found at www.nitourismawards.com Calling for local tourism businesses to enter the 2019 awards, John McGrillen, Tourism NI Chief Executive said; “On the international stage our reputation as a tourism destination, both for leisure and business, has grown substantially and these awards are about recognising those in the industry who have helped to deliver this success.”

“By the end of 2018 the tourism industry was supporting 65,000 jobs and contributing £2.5 million per day to our local economy, making tourism a key driver of economic growth.”

“With such a huge year ahead as we gear up to host The 148th Open at Royal Portrush, I have confidence that 2019 will again see the tourism industry break records. I wish all of our entrants this year the very best of luck.”

Paddy McKenna, Commercial Manager for Diageo Northern Ireland, commented; “We are extremely proud title sponsors of the Northern Ireland Tourism Awards. Our brands, including Guinness, Harp, Baileys and Smithwick’s, are synonymous with the hospitality and tourism industry and we are both committed and passionate in our support of the sector.”

“These Awards are an opportunity to acknowledge and celebrate the individuals, businesses and initiatives that have put Northern Ireland firmly on the tourism map

and, in doing so, have proven to be significant economic drivers for the Northern Ireland economy at a time when we really need it. The innovation, drive and diversity of the sector is evident and we would encourage all those involved to take part in the awards and showcase the very best of tourism in Northern Ireland.”

The deadline for submitting entries is Thursday 21 February at 5pm.

For full details on categories and how to enter please visit www.nitourismawards.com Further details, including date and venue for the 2019 Northern Ireland Tourism Awards, will be confirmed in February.

Eye on Arts

Business & The Arts

The Lyric Theatre’s Executive Director Jimmy Fay talks to Business Eye plays produced by the Lyric over its 50 years on Ridgeway Street. We had many different and successful actors come back and reprise roles or create new ones. Highlights of many in the evening for me were Stella McCusker performing Yeats, Ciarán Hinds pushing the limits with Owen McCafferty’s The Absence of Women, Marty Maguire reprising his role from A Night in November, and Adrian Dunbar reciting the last monologue from Dancing at Lughnasa.

It was a wonderful experience to see new and veteran actors on stage together and taking their well-deserved bow at the end of the performance.

1. What sparked your interest in theatre As a child I spent a lot of time playing with toys creating characters for them and imagining elaborate scenarios. I have four younger sisters and I would get them to help me stage dramas.

They would act out on my box bed with cardboard sets we made together.

We would charge the adults (long suffering parents, aunts, uncles) in to see them. I never really wanted to do anything else other than create theatre.

Except at one stage I wanted to be a journalist. I saw my first professionally produced show when I was about 15 and from then on I knew this was an industry I wanted to be involved in.

2. Can you tell us about your career to date?

After I left college I created a company called Bedrock. I studied Roosevelt’s New Deal policy for theatre artists in the 1930s and realised there was a similar structure in place with the Fás courses in Dublin. We got funding to produce whatever drama we wanted and I managed to wrangle an office and a rehearsal space for free. We had a lot of energy then and attracted a lot of great talent. In my career I have been a Metal Clown with the French company Archaos, Artistic Director of Bedrock, the first director of the Dublin Fringe Festival (which Bedrock created), a staff director at the Abbey, Literary director at

the Abbey, Associate artist at the Abbey, and now Executive Producer of the Lyric.

I’ve also had a parallel freelance career as a theatre director and producer.

3. How long have you been with the Lyric?

Coming up to 5 years next May. Early days yet!

4. Can you tell us about the current Lyric 50 celebrations?

We decided early on that this would be about the future as much as the past. I think it’s essential that we acknowledge the extraordinary work of our Founder Mary O’Malley and everyone who has ever worked positively in the Lyric, but it is very important to keep the current team and our audiences on looking forward. This is vital if you want to take advantage of present opportunities.

It has been a lot of fun examining the Lyric’s past achievements and to see how much the theatre is held in such affection by its audiences. It is an extraordinary success story over the generations and we are proud to be standing tall on the shoulders of giants.

5. What has been your key highlights of the celebrations?

They are ongoing but we have just staged an extraordinary night of theatre which focused on the amazing new

6. What, in your opinion, are the key business components to running a successful Theatre?

It is essential you have a vision for the theatre. My team, my board and I are all of the same mind and that is to focus on producing high quality professional theatre with an eye on new writing; to afford opportunities to each and every one in our profession regardless of gender, background or age; to esteem our audience and maintain a constant dialogue with them and offer them a diverse, provocative and fun program that somehow reflects their interests, fantasies and sense of place.

We recently announced our spring programme for 2019. Key highlights include our co -production with Bruiser Theatre Company, of Hitchcock’s The 39 Steps (2-31 Mar) and a major revival of Tennessee Williams’ Pulitzer Prize-winning play A Streetcar Named Desire (4 May – 1 Jun), directed by Irish Times Theatre Award winning director Emma Jordan.

We also announced Erica Murray as our 2019 Artist-in-Residence.

7. What opportunities and challenges are ahead for Lyric in the next 50 years?

Funding will always be an issue. We are a 390 seat auditorium which is actually a very strange size. It is perfect for a communal moment when a show, play, production touches a nerve and really takes off. Actors tell

me they really love to play on the stage and it has an intimate feel to it. But, again, if a show really takes off especially in a commercial sense we don’t have the size to capitalise on it nor do we have ability to price up the seats. Every seat in the Lyric is a great seat. And we are loyal to our audience so we keep our ticket prices affordable. I think theatre is constantly seen as under threat from home entertainment and this is certainly true - it can be difficult to get people through the doors sometimes. But theatre is essentially a communal activity and that sense of joy and excitement that theatre can give you is something worth sharing and being part of. You need always to be observant and respectful of your audience. You need to try and be ahead of them but be open to shifting tastes. Some of our biggest hits have been shows that occasionally baffled me but I got into the spirit of them from the communal aspect. We need constantly to be breaking down barriers that theatre is elitist or too high brow. I was from a working class background in Tallaght, Co. Dublin and theatre has never been that way for me.

8. What is your vision for Lyric over the next 50 years?

To produce plays that are vital and reflective of the extraordinary audience we are honoured to serve.

To maintain a beautiful space in which to rehearse, perform and partake in the ritual of theatre. To adapt to the sophisticated use of technology increasingly employed in creating theatre. To keep storytelling and the sense of wonder at the heart of all our theatrical endeavours. To honour, at all stages, the people who make theatre happen; on stage, backstage, front of stage and those in the auditorium who have paid their tickets and are waiting for the show to start. I’m not sure if I’ll still be running the Lyric for its hundredth anniversary gala night but I would sure like to be in the audience and watch the show.

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Eye on Law

Closing In On The Open Banking Opportunity Anna Vangrove, partner at UK law firm TLT Behind the scenes

At the time of writing, we have just marked the one-year anniversary of PSD2 and open banking coming into force in the UK.

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his new regulatory framework is designed to open up the banking market to new providers, ushering in a new era of digital platforms to support customers in ways they had never thought possible or even imagined.

While the banking apps on your phone might look similar to how they did a year ago, the lack of a “killer app” belies the hard work and strategic decisions that are happening behind the scenes.

As the one-year anniversary loomed, we spoke to 130 financial services leaders to get their impressions of where the market is heading and to find out where companies are investing, how they’re going about this and about their biggest challenges and opportunities.

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Belfast’s fintech scene There is an excitement brewing around Belfast’s fintech scene.

For such a small ecosystem, there have been a high volume of companies appear in this space over the last few years with ideas ranging from B2B to dark web monitoring and data management platforms.

Then in September 2018, Belfast’s first dedicated fintech co-working space, Catalyst Belfast Fintech Hub, also opened for business. Located in Danske Bank’s city centre headquarters, it is dedicated to the growing cluster of local early stage fintech companies that are ambitious to scale and expand into new markets evidencing the growth of the sector in Northern Ireland.

2019 is going to be a pivotal year in terms of regulatorydriven change, fintech growth and investment and therefore increasing competition for both banks and fintechs, with some interesting market dynamics at play.

Of the 130 people we spoke to, 84% have open banking products in development or ready to launch – suggesting we are on the brink of a tidal wave of innovation. Having a clear strategy and moving on it quickly will be crucial to gaining a foothold as the market evolves, and as competition for a slice of investment funds, technology budgets, partnerships and customer app space intensifies.

Indeed, 66% of respondents expect the market to become more consolidated with larger banks and corporates buying fintechs and smaller banks to keep pace with the speed of product development needed to succeed under open banking.

Banks and non-banks see big tech companies like Google, Amazon, Facebook and Apple as their biggest threat.

The right approach Safeguarding your business will depend on a number of key considerations.

Smaller companies need to consider their business plan and do the necessary preparations to attract the right kinds of investment and partnership agreements.

New products require some careful decisions about branding and IP protection for everything from the algorithm to the name and visual identity.

All businesses will need to communicate effectively with

their customers about how new security protocols and services work and implement the measures to deliver them.

Partnership agreements will need to be carefully structured and of course all businesses need to understand their regulatory obligations and how to minimise risk.

Looking ahead To find out more about open banking, including exclusive research, advice and case studies from TLT lawyers and guest speakers, please register your interest in attending our digital banking events by emailing Anna Vangrove.

You can download our report Opportunity Knocks – the future of open banking at tltsolicitors. com/openbanking2018

CONTACT: Anna Vangrove Partner at TLT LLP anna.vangrove@tltsolicitors.com 0333 006 1410

Eye on Finance

Controlling Risks In Your Business

by Alistair Cooke, Director, ASM Chartered Accountants Strategic Is the product or service you are offering still fit for its purpose or are competitors bringing new products/services to market which will make yours redundant? To minimise the impact of this, you need to be constantly aware of what is happening in the market place and be able to respond to meet customers’ demands.

This might be through continual product development/research. Another approach might be to acquire new products or even a competitor to be able to access their product range.

Operational

No-one likes to think that their business is at risk but by its very nature, being in business carries risk.

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very entrepreneur is a risk-taker and hence every business owner.

It is only by taking them that you can enjoy their rewards. The key however is managing them within your business and being comfortable with the amount of risk which cannot be controlled.

The first vital piece of information in managing the risks within your business is to be able to identify them.

If you don’t know what the risks are, you won’t be able to manage them.

So what are the main risks businesses face today? Obviously they vary by business but can be generally categorised into 4 main areas: t 4USBUFHJD t 0QFSBUJPOBM t 'JOBODJBM t $PNQMJBODF

These are risks associated with business’ operational and administrative procedures.

These can include such things as recruitment of sufficient staff with the correct qualifications and experience. A way of managing this may be to recruit inexperienced staff and train them yourself i.e. under an apprentice program.

Is your supply chain over-reliant on 1 supplier for a key component? Your business might be at risk of failure or at best, being unable to supply your customers if this supplier went out of business. Unless it is a very specialist component, having more than 1 supplier will not only mitigate such risks but may ensure each supplier remains competitive in their prices.

IT systems play a major role in most businesses today. Unfortunately a business’s IT infrastructure is like our plumbing or electricity – we only notice it when it stops working. In many organisations, the effect IT has on the smooth operational running is greatly underappreciated, until the system fails and everything grinds to a halt. Have you sufficient contingency plans in place should you suffer a major IT failure? If you sell online and your website is offline, this is the same as your shop being closed.

Customers will not be able to purchase your goods and may well go elsewhere.

Speak to your IT provider and ensure that

not only are backups being taken but that they are tested on a regular basis to ensure they are working correctly.

Also consider the risk of cyber-attacks or data loss to your business. Obviously with GDPR now in force the penalties for failure to protect data can be financially quite high but also the reputational damage to a business can be huge due to a cyber-attack or data breach.

Compliance Compliance risks are those associated with the need to comply with laws and regulations. They also apply to the need to act in a manner which investors and customers expect, for example, by ensuring proper corporate governance.

A business also needs to consider whether changes to employment or health and safety legislation could lead to an increase in your overheads or force changes in your established ways of working.

Legislative risks can also pose a significant risk to your business. For example, concerns about the increase in obesity may prompt tougher food labelling regulations, which may push up costs or reduce the appeal of certain types of food.

At the time of writing this article, Brexit and the impact that any deal or no-deal will have on businesses still remains a significant unknown. Only when any deal has been agreed will businesses be able to analysis it to determine the impact upon their business. This could be both financial in terms of additional costs but also an increase in compliance due to border checks etc.

Financial Apart from the main risk of business failure, other main risks affecting businesses can include interest rate rises, foreign exchange rates and changes in tax policies.

Businesses can protect themselves from the potential impact of interest rate increases by locking all or a portion

of their debt into fixed rates. This can help a business plan their cashflow by being sure of their future payments.

These days a greater risk to businesses can be foreign exchange rates. For many businesses the weakness of sterling since the Brexit vote has provided a great selling opportunity, particularly for those business which export. However for many other businesses, which import all or part of their product the weakness of sterling has led to higher costs and hence they either face raising their selling prices or seeing their margin eroded.

Other financial risks which a business face include failure of a customer to pay. To try and minimise this risk a business needs to assess how they decide to extend credit to a potential customer. Are suitable credit checks carried out / references obtained?

Are the limits reviewed on a regular basis?

Should credit insurance be obtained?

In summary, all businesses carry risk. It is how we deal with that risk is important.

A risk management plan should be drawn up and the following action taken: t *EFOUJGZ UIF SJTLT t "TTFTT UIF SJTL – how likely is it that they will occur? t .BOBHF UIF SJTL – can they be avoided, reduced, transferred or accepted? t .POJUPS BOE SFWJFX – to ensure control measures in place are adequate

Alistair Cooke, Director, ASM Dungannon Tel: 028 8772 2139 E: alistair.cooke@asmdungannon.com The content of this article is for information purposes only and advice particular to your circumstances should be sought from a professional advisor.

ASM Chartered Accountants have six offices – Belfast, Dublin, Dundalk, Dungannon, Magherafelt and Newry. The 120 strong team specialises in a range of accountancy disciplines including Audit and Accounting, Business Consultancy, Corporate Finance, Forensic Accounting, Hotel and Tourism Consultancy, Internal Audit and Taxation Services.

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Eye on IT & Technology

Driving Digital First

Following October’s repositioning of Belfast Waterfront’s conferencing and event business as International Convention Centre Belfast, Business Eye took the opportunity to speak to Charlie McCloskey, Head of Digital at ICC Belfast, Waterfront Hall and Ulster Hall about how their digital approach is driving the venues ambitions on a global stage.

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A

gainst the backdrop of increasingly competitive market conditions within the events industry, venues have been forced to continually find ways to differentiate their proposition. Recognising this, Northern Ireland’s only purpose-built international convention centre has developed a strategy which above all aims to support their conferencing client – anytime, anywhere.

ICC Belfast, has adopted a ‘digitalfirst’ approach to marketing that has seen a greater emphasis placed

on the development of digital tools and assets. This digital strategy helps to fulfil its compelling value proposition of delivering for Belfast and Northern Ireland socially, culturally and economically by showcasing the city and beyond as a unique, vibrant and flourishing business tourism destination. Given that Belfast is still considered by some to be a hidden gem, educating professional conference organisers and event professionals about the ambition, optimism and energy of a city that is well-equipped to compete

Eye on IT & Technology Hall are also benefitting from the shift in marketing focus.

“Last year we upgraded our quarterly ‘What’s on’ brochure, Front Row, to a weekly e-zine that is supplemented by a condensed flyer which lists a smaller number of upcoming events in both venues over the next eight to ten weeks.

Updating Front Row’s design and distribution channels from the former methods was not a spur of the moment decision, it was a measured response to market demand and trends. So far this has been working incredibly well with revenue from ticket sales ahead on budget and exceeding last year’s figures.”

But what about older consumers who are traditionally perceived as being less tech-savvy?

“Since April 2018, the percentage of website visits coming from the 55 – 64 year old demographic has increased by almost 20%” explains Charlie “This was the group that had the biggest increase, and it’s quite a substantial increase at that. Our marketing approach is based on extensive research and it is constantly being refined with the needs of the customer at the forefront of our minds.”

“How customers interact with us is continually changing, it’s therefore imperative that we adapt to our customers’ needs.”

on the world-stage, is critical.

“Placing digital at the forefront of everything we do allows us to be targeted, measured, efficient and responsive, explains Charlie.

“How customers interact with us is continually changing, it’s therefore imperative that we adapt to our customers’ needs. At the minute, focusing on digital is crucial to addressing those needs.”

And it isn’t just in the conferencing side of the business the digital transformation is taking effect, the live entertainment brands; Waterfront Hall and Ulster

“Many learnings taken from the venue’s live entertainment offering have been used to influence the conferencing roadmap. Of course, a local consumer who wants to purchase two tickets to a show or gig has a different agenda to an international conference organiser that’s scouting out a location for a multi-day medical conference. However, there is undeniable crossover between the audiences that we leverage as often as possible to improve the entire offering.”

One action that was taken to

better serve the unique needs of these markets was the creation of a new ICC Belfast website which was launched as part of the conferencing brand reposition in October 2018. “The need for a dedicated conferencing website that exists completely independently to our e-commerce entertainment website was obvious. The majority of research carried at the initial stages of organising a conference or business event is done online.

Having a state-of-the-art website that was built with the needs of the time-poor end users, can only help us in moving our prospects along the conversion funnel to eventually becoming booked business. With every out-of-state conference delegate valued at £488 per day to the local economy, the potential rewards of economic impact are there to be reaped.”

Charlie concluded: “The new website is just the start of the digital transformation in conferencing for ICC Belfast.

Through the successful

implementation of new digital innovations, we can communicate the correct content to the correct audience, through the most appropriate channels. This should result in more event organisers not only shortlisting the city but actually booking and hosting in our venue. We have the potential to become one of the UK and Ireland’s best performing International Convention Centres.

ICC Belfast’s facilities are worldclass, the brand stands up against the best in the industry and our digital-first approach will absolutely support and further what we already have to help the business deliver commercially.”

Visit iccbelfast.com to find out more about the business’ capabilities as a conference venue or waterfront.co.uk to find out what’s on and book tickets in the Waterfront Hall and Ulster Hall venues.

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Eye on Media

Marketing Guru Talks To Belfast Audience

Pictured with Richard Shotton (second from right) is Valerie Ludlow, CEO; Colin Anderson, Chairman and Robert Lyle, Head of Media at ASG & Partners.

In the first of the ‘ASG & Partners Presents’ series, the Belfast based communications agency welcomed advertising and marketing expert and behavioural scientist Richard Shotton.

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o an audience packed full of marketeers, industry experts, influencers, media, and brands, Richard talked through how fundamental our behavioural biases are, and how these can be used to the advantage of brands and campaigns. From an understanding of authenticity and why ‘perfect’ is unattractive to consumers (The Pratfall Effect), to a clever chronicle of the fundamentals of value and comparison (Anchoring and Price Relativity), the session realised the opportunities an understanding of these biases can present.

Richard benchmarked real industry examples, making the case for how relevant, broadscope, and robust the theories of behavioural science are.

In addition to writing a regular column in Marketing Week on the behavioural science experiments he runs and how the principles can be applied in any real-world situation, Richard’s book, The Choice Factory, was one of the top selling marketing books on Amazon in the past year.

Head of Media at ASG & Partners, Robert Lyle explained why behavioural science is becoming such an important tool for advertising and marketing

strategy. He said, “Behavioural science is a study of what makes human beings tick. If we get to the bottom of how we make decisions, how attitudes influence our actions and how to encourage behaviour change, we can be much more effective in our marketing, resulting in higher return on investment. It is estimated that these behavioural insights can add another 20% to the impact of a campaign. With around £170 million being invested in advertising in Northern Ireland annually, this could equate to an additional £34 million of value to these campaigns.”

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Eye on Communications

More Broadband Investment As Ofcom Highlights Rural Divide

The number of homes and offices in Northern Ireland unable to get a decent broadband connection has fallen by 15,000 over the last year, Ofcom has found, but some 40,000 premises still cannot get a good connection.

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he findings, part of Ofcom’s recently published Connected Nations Northern Ireland report, shows progress on the availability of broadband and mobile services, which are crucial to people’s personal and working lives.

But around 40,000 homes and offices, or 5% of properties in Northern Ireland, still cannot get the broadband speeds needed to

44

meet a typical household’s needs.

Most of these are in rural areas.

Ofcom defines this as broadband offering a download speed of at least 10Mbit/s, with an upload speed of at least 1Mbit/s. The figure has fallen from 55,000 premises last year.

Ofcom says the availability of these services is lower in rural areas, not just in Northern Ireland but right across the UK, because

of the increased costs of deploying communications infrastructure to serve areas where there are few customers or where the costs of building infrastructure are higher.

Jonathan Rose, Ofcom Northern Ireland Director, said more needs to be done to improve services in rural areas especially.

“Fast, reliable internet access, wherever you live and work, is essential. This report underlines the good work taking place to increase the availability of faster broadband services in Northern Ireland.

“However, there are still significant numbers of properties in rural areas that don’t have access to decent broadband. It’s therefore vital there is further action to ensure people in these areas aren’t left behind.”

The broadband Universal Service Obligation, due to be introduced in 2020 and which will give consumers and businesses the right to request a decent broadband connection, will help those with the slowest connections.

Alongside this, operators and government are involved in several Northern Ireland-specific projects that will improve the region’s broadband infrastructure.

When it comes to tackling the problem of poor broadband in rural areas, the most important is Project Stratum - a £150m plus investment in broadband, currently being scoped by the Department for the Economy. Money for the project is being made available through the DUP / Conservatives confidence and supply deal.

A DfE spokesman said: “Assuming that the project business case is fully approved, and a positive outcome to the open procurement is achieved we anticipate contract award by the end of quarter three in 2019 and the first deployment of infrastructure by April 2020.”

Elsewhere, the Ofcom report shows superfast broadband – defined by Ofcom as a download speed of 30Mbit/s or more – was available to 89% of Northern Ireland

homes and businesses by September 2018, up from 86% a year earlier.

Eighty per cent of small and medium-sized enterprises (SMEs) now have access to superfast broadband or faster – up from 75% in 2017.

The Connected Nations report also shows the average download speed of a connected broadband service in Northern Ireland rose by 10% in the year, from 39Mbit/s to 43Mbit/s. At the same time, average monthly data usage per connection has increased by 28% to 240GB. Meanwhile, coverage of ‘ultrafast’ broadband in Northern Ireland, which Ofcom defines as speeds of 300Mbit/s and above, has risen to 38% of properties, from 25% last year (UK-wide availability is 50%), largely as a result of continued upgrades by Virgin Media to its high-speed network.

There has also been a significant increase in the number of premises passed by full-fibre networks.

Such services are capable of delivering very high speeds, well in excess of 300Mbit/s.

Some 12% of premises in Northern Ireland, which is highest of the UK nations, now have access to full-fibre services.

You can find out more about broadband and mobile coverage in Northern Ireland through Ofcom’s Connected Nations reports and interactive tools, which are available online at www.ofcom.org.uk.

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Eye on Executive Recruitment

Ruth McDonald & Narratology...

Weaving An Executive Success Story One of the most well known players in the specialist executive search marketplace has established a brand new company to meet the needs of Northern Ireland’s top-level recruitment space.

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Eye on Executive Recruitment

R

uth McDonald has been working in the recruitment sector here for 18 years, latterly as one of our best known headhunters. Now she’s decided to carve her own niche as Managing Director of Narratology, a city centre-based executive search and selection consultancy.

And, if she can continue to apply her obvious passion for the people business along with an intentional attention to detail, Narratology will quickly become a force to be reckoned with.

The name of Ruth’s new firm begs an obvious question. “Narratology is the study of narrative, its themes and component parts. As I see it, every business has a story, a background to how it became the organisation it is today. Events, hard work, ideas and values all bring meaning and purpose to a company and it’s a well known fact that a workforce connected to the business means a better business. That’s really powerful.

And I’ve found that it’s a company’s story that executives buy into when considering a career move, and of course how they can play a part in it.

“It’s a different way of looking at how this traditional industry engages with talent. I’ve always worked really hard to engage with my clients....to talk to them, to hear their stories, and to get beneath the skin of their challenges.

Without that kind of understanding, I don’t think it’s really possible to do the job that we do which, at its heart, is all about matching executives with the right roles in the right organisations for them.”

A modern languages graduate, Ruth McDonald ended up in the world of recruitment almost by accident when she took a summer job with one of the leading firms in the field. “I loved it right from the start. I loved dealing with people, and I loved the fact that I could see the impact that I was making.”

After spending several years working with a city centre recruitment firm, she then found her niche as a senior recruiter in the banking and finance sector. It was a natural progression then to move into executive search and selection, where she has spent the last number of years of her career.

“I felt that I was ready to set up a firm of my own. What’s more, a lot of clients and candidates were telling me that I should do it.”

Narratology is a firm that, Ruth reckons, will take a different approach to its competitors in the local marketplace.

“Some of the larger companies here in Northern Ireland still look to London when it comes to high-end executive recruitment.

My objective is to deliver London standards of service, and London search and selection methods, here in Northern Ireland.”

To enable Narratology to do that, the firm has its own dedicated research unit, staffed by a London-trained specialist who can provide the initial intelligence to back up any executive recruitment brief.

“It’s very important to how we work. This market is all about doing the homework

and making absolutely sure that we understand the market we’re dealing with and the people we’re speaking to.

“I might be the MD, but I’m out there winning the business and delivering for our clients.

In a nutshell, we’ll take a brief, we’ll drill into the right areas of the market and we’ll refine our searches and how we approach them. This business isn’t all about finding.

It’s also about engaging, especially given the current battle for strong leadership talent.

“My promise to those who might want to work with us is that if you engage with Narratology, we’ll work hard to deliver an end to end search and selection process to produce the results for you. We know that a quality shortlist from which a high calibre appointment can be made is what our clients seek when they retain an executive recruitment firm.

We believe our model of in-house research combined with a strong network and knowledge of the local market, will deliver that.”

What impresses about Ruth McDonald is the fact that she’s a student of people, a business enthusiast and someone who appreciates the nuances of her chosen field. She emphasises the importance of chemistry when it comes to executive search and selection.

“Someone might appear to be the right candidate for a role on paper, but the chemistry might turn out to be all wrong.

We talk about “cultural fit” in recruitment which means having common backgrounds, values and outlooks, however executive candidates need to have chemistry with their fellow leaders in an organisation. It’s my job to assess this as well as the technical fit. I always think, though, that the chemistry I’m talking about is instant and fairly obvious.”

Headhunting , she says, has come a long way since what she describes as the days of the ‘little black book’ and hush hush meetings in the Reform Club. “That’s not to say that we don’t have contact networks, but to find the “best” person for a specific appointment we need to use a structured process.”

By the nature of the Northern Ireland economy, Narratology will focus on key sectors like agri food, manufacturing and banking and finance. “I’ve placed dozens of Directors and Senior Managers over the last number of years and it’s clear that there will continue to be opportunities for high calibre executives. That’s not going to change. It certainly hasn’t in the 18 years that I’ve been in the trenches! And what’s really great is seeing how those executives have been pivotal in their companies’ success.

“We have to be creative when it comes to finding the right candidates, but that’s the nature of this business. Companies and organisations these days look after their people a lot better than they used to do, which is a good thing, so there has to be a real reason for an executive to consider a career move. And, as well as being creative, we’re also capable to looking well

outside the boundaries of Northern Ireland.

“A lot has been said about the diaspora, and attracting talent back to Northern Ireland. This is absolutely a source of talent we tap into but the key is that, as well as the career opportunity being right, their personal circumstances need allow for them to return or to relocate.

Ruth also points out that the higherlevel executive search and selection marketplace also means dealing with candidates who might not have engaged in the recruitment market for many years.

“I’ve found myself working with people who haven’t had to do an interview for 15 or 18 years, and sometimes they’re a bit apprehensive about what this might involve. We are there to support both parties through this and, if we do our job of matching candidates to roles as we should do, the interview process won’t be as difficult as some might imagine.

“It’s very important not to waste anyone’s time. Search consultants need to do the legwork and to manage expectation from the outset.

That will remove a great deal of the risk” It’s hardly surprising that Ruth McDonald describes herself as a ‘doer’. She’s not going to be content to recruit to her own team and sit back in the Managing Director’s office.

“Definitely not,” she says. “The whole point of the Narratology model is to allow me to be out there talking to people, connecting organisations with senior talent. That’s what this job is all about. And I want to be the best in the business here in Northern Ireland.”

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Eye on News

PwC to Move to Merchant Square in Belfast’s Biggest Office Deal PwC has struck Belfast’s biggest privatesector office letting deal to become the anchor tenant in the city’s Merchant Square development.

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urrently based in Waterfront Plaza, PwC’s existing 2,000 staff will relocate to Merchant Square in the summer of 2020.

PwC says its plans for further investment and job creation mean it is running out of space in its current Belfast headquarters.

The £70 million Merchant Square complex is being developed by Oakland Holdings, and straddles the junction of Wellington Place and Upper Queen Street, combining the former Oyster House and Royston House. When completed there will be over 200,000 sq feet of Grade A office accommodation on nine floors, with space for more than 3,000 people.

PwC in Northern Ireland is PwC UK’s fastest-growing UK region and its largest regional office outside London. Belfast is PwC’s recognised global centre for technology, digital advisory services and research and

is a major exporter of technology and regulatory advisory services.

PwC in Northern Ireland recruited over 600 new staff on the past 12 months and has doubled local employment numbers to more than 2,000 in the last two years; largely due to the significant growth of Operate, the firm’s innovative operational delivery division.

Announcing the proposed move to local staff, Paul Terrington, Northern Ireland chair and head of UK regions said: “This move underlines the PwC Executive Board’s confidence in Northern Ireland as a location and the success of the firm here.

We will continue to grow in local, national and international markets from Belfast, drawing on the technology skills emerging from our schools, universities and colleges.

“In the past year, PwC invested over £50m in the local economy and

our decision to relocate to Merchant Square and concentrate our growth plans in Belfast reinforces our belief in the city’s ability to inspire and support the creativity and aspirations of our people, and to help us attract and retain top talent here.

“We are investing in technology and collaborative space to ensure we can work well with clients from across the globe and with local business, education and social and community enterprise. We intend to make Merchant Square an accessible and vibrant part of life in the city.”

With long-established credentials in the technology sector, PwC’s Merchant Square base will be one of the city’s most innovative digital spaces. Taking inspiration from the Frontier development in PwC’s More London office, it will incorporate technology-enabled client collaboration and event space.

Merchant Square will feature a state-of-the-art hub that will provide the infrastructure and environment where visionaries and technology innovators can collaborate, disrupt and create solutions that help clients solve complex problems.

PwC Northern Ireland will remain

the firm’s global hub for blockchain, moving operations for this as well as PwC Research and the Google Innovation Lab to Merchant Square.

For some long-tenured staff at PwC Northern Ireland, the move will be a homecoming. Royston House was the original base for Price Waterhouse, before it merged with Coopers & Lybrand in 1998 and moved to Waterfront Plaza in November 2001.

Retail technology firm partners with Queen’s Management School

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Pictured L-R are: Dr Barry Quinn, from Queen’s Management School; Peter McCaul, CEO of Pearlai; and Dr Byron Graham, from Queen’s Management School.

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ewry-based technology firm Pearlai have announced a new partnership with Queen’s Management School at Queen’s University Belfast.

The retail technology company have been developing VIP loyalty smart technology in conjunction with a number of shopping centres throughout the UK for the past two years. Their smart technology is the first of its kind in the retail marketplace.

By using the Pearlai platform, shopping centres now have the ability to turn anonymous shoppers into loyal customers.

The shopping centre provides their best customers with a VIP keyring that enables the shopper to receive year-round exclusive offers and discounts via text message within the shopping centre.

Dr Barry Quinn, lecturer in finance, and Dr Byron Graham, lecturer in business analytics from Queen’s Management School, have been working with Pearlai to better develop the existing data that the company collects through their platform.

Peter McCaul, CEO of Pearlai said: “Working closely with local experts like Dr Quinn and Dr Graham at Queen’s Management School has provided new opportunities for the commercialisation of the data we collect through our product offering. It makes for exciting times in the retail technology space.”

“Through the use of predictive modelling and analytics we have been able to help Pearlai better understand their data and have assisted in implementing processes to utilise the vast amount of retail data which their platform captures. This innovative technology will help draw customers back into the shops,” said Dr Quinn.

Pearlai were recently shortlisted for the ‘Best Shopping Centre Innovation’ at the International Retail Property Conference MAPIC awards in Cannes, France.

Eye onBusiness Leaders Forum

Eye on Business Leaders Forum

Business Leaders Forum At business events all over Northern Ireland, and in the pages and new bulletins of the media, there’s really only been one topic of conversation over recent months. And that, of course, is Brexit.

With Brexit dominating the agenda going into 2019, what are your hopes and fears for business and the economy in Northern Ireland during the coming 12 months?

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e all have our day to day business concerns, worries, hopes and fears, of course. But Brexit has been like one huge, black, forbidding storm cloud approaching us for some time now. To such an extent, in fact, that we’ve got used to living with that big ugly cloud in the background.

Of course, the cloud analogy doesn’t apply to all of us. Apparently there are business folk amongst our number who think that Brexit is a fantastic idea and who really don’t care whether the UK negotiates its way out, wriggles out or crashes out with

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flames coming out of every window.

But the two of three suspects that we know of weren’t available. For some reason, they don’t really like talking to us.

So, on the pages that follow, we’ve gathered a cross section of sensible, pragmatic, living and breathing business leaders and personalities who’ve been willing to share their views of the year ahead and how development may or may not affect both their own domains and Northern Ireland as a whole.

And Brexit, of course, isn’t the only show in town. In case

anyone had forgotten, we’ve had well over two years without a Stormont administration, yet more evidence of the salt rubbed in our wounds by our own politicians.

What’s more, every one of us has his or her own business challenges to contend with.

That’s the nature of the beast.

And business life has to go on.

Should we be preparing for the worst scenario? Hell no, how can we do that when none of us knows – even at this last-gasp stage – what’s going to happen.

We live in interesting times.

Eye on Business Leaders Forum

Professor Nola Hewitt-Dundas

Angela McGowan

Head of Queen’s Management School

Rick McKee

CBI NI Director

Michael Neill

Managing Director, The Foundation

Head of Belfast Office, A&L Goodbody

Chris Conway

Kevin Kingston

Translink Group Chief Executive

Nick Whelan

Head of Danske Bank

Brian Lavery

Group Chief Executive at Dale Farm

Managing Director, CBRE

Kirsty McManus

Brian Murphy

National Director, IoD Northern Ireland

Brian Gillan Head of Business and Corporate Banking at First Trust Bank

Managing Partner BDO Northern Ireland

Judith Totten Managing Director, Upstream Working Capital Ltd

Danielle McWall Head of Department, Ulster University Business School

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Eye on Business Leaders Forum

Rick McKee Managing Director, The Foundation

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t seems that Brexit has taken over from the weather as the go-to subject for smalltalk here. I don’t dwell on it as I don’t pretend to know all that much about it, but it cheers me right up that nobody else appears to have a clue either!

Brexitally challenged as I am, everyone seems to have the same basic frustration; not whether it’s a good deal, a bad deal or a no deal, but rather what’s the deal? It’s the lack of clarity that’s the killer.

If you’re leading a business, generally you’ll have an eye on strategy and planning, but the current fog makes even basic planning incredibly difficult.

We will know soon enough how it will pan out for us here, and there’s no single answer.

After all the shouting, my guess is it’ll be great for some, terrible for others, and alright for the rest. Our own focus this year will be on controlling what we can control and doing what we do – helping our clients to be the best they can be by understanding their challenges and working with them to meet them.

I’m no economist as this piece demonstrates, but I get the feeling that Brexit is stealing all the limelight unfairly. I was in short trousers and unaware of the financial crash of 1978, and sweet sixteen and even more unaware for the one in 1987. I was right in the thick of it when the dotcom bubble burst in 1999, and again when the backside fell out of everything in 2008.

I consider myself an optimist, but when’s the next one going to drop? Gulp! www.wearethefoundation.co.uk

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Eye on Business Leaders Forum

Michael Neill Head of Belfast Office, A&L Goodbody

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sense of ‘the great unknown’ continues to cloud the economic outlook for Northern Ireland in the year ahead. Alongside the absence of a devolved government, a lack of certainty around Brexit continues to impact business and investment decisions.

From a macro-perspective, there are clearly areas which are beyond our control. Like every business, however, it’s about anticipating the opportunities and threats

and planning accordingly.

We see local business doing that every single day. We’re receiving calls daily from concerned companies of all sizes right across Northern Ireland who are seeking some sense of clarity on Brexitrelated legal matters that will impact their business.

The fact that organisations like Invest NI provide both guidance as well as financial support towards getting the right Brexit-related advice is encouraging.

Whilst some legal areas seem to come under more focus than others – such as regulated finance, energy, procurement and employment law – every area potentially presents some form of challenge.

However, it’s as important to look beyond the short-term challenges and focus on improving Northern Ireland’s global competitiveness if we are to continue attracting investment into the region. As such, initiatives such as the

Belfast Region City Deal and the ‘C8’ collaboration are to be welcomed and will play an important role in contributing to sustainable economic growth not only in the year ahead, but in the longer term.

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Eye on Business Leaders Forum

Nick Whelan Group Chief Executive, Dale Farm

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n the face of current unprecedented economic and political developments, the business community needs to work more collaboratively than ever before.

From our perspective, as a dairy cooperative, that means continuing to solidify the close partnerships we have built with our customers and protecting the needs of our farmers with every business decision we make.

It also sharpens the mind when it comes to working smarter. For Dale Farm that will involve doubling down on the work we have put in to drive innovation and efficiency across our operations, such as the solar farm now powering our cheese factory in Cookstown.

I believe the dairy industry needs to also use this time as a platform to showcase the quality of our milk. Our farm husbandry, genetics and grassland management are undeniably world class. We need to take great pride in that and shout it from the rooftops – we simply can’t afford not to.

Eye on Business Leaders Forum

Professor Nola Hewitt-Dundas Head of Queen’s Management School

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ooking to 2019 I am reminded of the song

by Bob Dylan: ‘The times they are a-changin’.

Major changes extend far beyond Brexit and the political impasse at Stormont.

These include US trade protectionism, a slowdown of economic growth in China, the growing possibility of sovereign debt default in Italy and the escalation of far-right politics etc. All these changes have structural effects on the flow of capital, technology and labour that are essential for business to operate and drive economic growth. Few of these changes are going

to be resolved on 29th March and no doubt new ones will emerge throughout 2019.

In the same song, Dylan goes on to write: ‘he who gets hurt will be he who has stalled’.

2018 has brought some good news with continued growth in the business birth rate, the number of registered businesses, increase in share of exports and increase in R&D expenditure.

However, productivity remains low, innovation and entrepreneurship rates are the lowest in the UK and employers are increasingly vocal about a growing skills crisis. The challenge for NI in

2019 is to start moving again!

2019 will be a critical year for NI. The Brexit outcome we hope will create greater certainty for business and in turn the basis for restoration of Stormont. Structural issues such as funding of Education from primary through to Higher Education and investment in infrastructure must be addressed urgently if businesses are to be supported to compete.

Equally, in a region with the highest proportion of adults who do not participate in the labour market, there is a moral obligation to ensure these individuals are

cared for through a fit-forpurpose health service, and provision of community and educational opportunities.

NI is approaching a tipping point and for the optimist 2019 will be a year of greater certainty post Brexit, of a functioning Executive that stops stalling on key economic and social issues and that businesses will be provided with the capital, technology and skills that they require to make NI successful. What’s the alternative? Back to the words of Dylan: ‘(we) better start swimming or we’ll sink like a stone, for the times they are a-changin’.

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Eye on Business Leaders Forum

Chris Conway Translink Group Chief Executive

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e have ambitious plans for 2019.

We’re continuing to work on the North-West Multi-Modal Transport Hub in Derry~Londonderry and on the new train station in Portrush, in preparation for the Open Championship, which will be a huge sporting event for Northern Ireland. We’ve also got new bus and rail fleet investments in planning, including new low emission buses and rail carriages for NI Railways. We are also waiting for planning approval to get started on the construction of the Belfast Transport Hub project, a multimillion pound investment that will significantly enhance public transport for everyone in Northern Ireland and regenerate a major area in Belfast.

Of course, 2019 won’t be without its’ challenges – as a major operator of cross-border bus and rail services, we are following the Brexit negotiations very closely. This is creating major uncertainty for staff, passengers and our supply chain.

However, despite the absence of a devolved Government and local politicians to make decisions, like all business people, we are getting on with it and working with colleagues in Iarnrod Éireann and Bus Éireann to minimise any disruption to cross-border services as a result of a ‘no-deal’ Brexit. Getting a devolved Government up and running again must be an imperative in 2019, however in the absence of this civil servants must be allowed to make decisions to keep NI running.

Throughout this year, Translink will continue to work collaboratively with all stakeholders to support economic growth, social inclusion and an improved environment by making public transport ‘your first choice for travel in Northern Ireland.’

Eye on Business Leaders Forum

Brian Murphy Managing Partner BDO Northern Ireland

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he coming 12 months have the potential to be transformative for the Northern Ireland economy.

Pent up demand, which has been stymied by overwhelming uncertainty in the last year, could be unleashed under a clearer political roadmap to help boost economic growth.

Much will obviously depend on the outworking of the Brexit debates but recent figures from CBRE’s research show business in Northern Ireland is getting on with what it does best – doing business

and creating jobs – despite the current environment.

Our Real Estate Outlook for 2018 reported record take-up of nearly 900,000 square feet of office space, a sterling performance under the circumstances.

Hearteningly, the organisations behind those deals are from a broad range of indigenous companies, inward investors and government – a healthy mix.

More major deals have already been announced since the end of 2018 - such as Deloitte’s plan to move

into the new Bedford Square development - as Northern Ireland continues to prove its mettle as a world-leading region for office occupants.

But our research also revealed a moribund investment market, one struggling to stir buyers and sellers from the sidelines as the ever-present political uncertainty continues.

With any luck, a clearer idea of the UK’s relationship with Europe will emerge before long and these investors will come back to the market.

Something which is less clear

is the local political situation, one which has been hamstrung for more than two years now.

Our politicians owe it to the electorate to get back to the business of governing to provide the additional certainty needed for investors to get back up to speed and, just as importantly, get infrastructure projects moving.

There has been a dearth of leadership from all corners in recent times so let’s hope 2019 provides a steadier platform for us all to make correct business decisions.

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Eye on Business Leaders Forum

Kirsty McManus National Director, IoD Northern Ireland

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nly the most optimistic observers would attempt to make any accurate predictions for the economy in 2019, given that we are now just weeks away from Brexit and the prevailing sense of uncertainty that dominated 2018 has continued well into the new year.

However, our hope is that a ‘no deal’ Brexit will be avoided, in line with our long-term position that reaching agreement before the UK leaves the EU would provide the best possible outcome for our economy.

The majority of our members tell us that a disorderly Brexit would have wideranging ramifications for their businesses, consumers and the economy as a whole – and we agree.

No matter how the UK leaves the EU on 29th March however, Brexit will of course continue to dominate the headlines.

This cannot be avoided but it must not be at the expense of other matters crucial to the wellbeing of local businesses.

It’s hard to believe, but 2018 was intended as Northern Ireland’s Year of Infrastructure, but during the year, a vacuum in political decision making resulted in £2 billion of infrastructure projects being placed in jeopardy.

Releasing the logjam which has affected projects as diverse as the North South Interconnector and the Casement Park sports stadium needs urgent attention and will require the restoration of the Northern Ireland Executive.

It won’t be the only issue we’d like to see in the in-tray of new ministers however, with the Northern Ireland skills agenda, the promotion of improved productivity and delivering a new economic strategy all requiring renewed political focus.

Eye on Business Leaders Forum

Brian Lavery Managing Director, CBRE

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he coming 12 months have the potential to be transformative for the Northern Ireland economy.

Pent up demand, which has been stymied by overwhelming uncertainty in the last year, could be unleashed under a clearer political roadmap to help boost economic growth.

Much will obviously depend on the outworking of the Brexit debates but recent figures from CBRE’s research show business in Northern Ireland is getting on with what it does best – doing business and creating jobs – despite

the current environment.

Our Real Estate Outlook for 2018 reported record take-up of nearly 900,000 square feet of office space, a sterling performance under the circumstances.

Hearteningly, the organisations behind those deals are from a broad range of indigenous companies, inward investors and government – a healthy mix.

More major deals have already been announced since the end of 2018 - such as Deloitte’s plan to move into the new Bedford Square development - as Northern Ireland continues to prove

its mettle as a world-leading region for office occupants.

But our research also revealed a moribund investment market, one struggling to stir buyers and sellers from the sidelines as the ever-present political uncertainty continues.

With any luck, a clearer idea of the UK’s relationship with Europe will emerge before long and these investors will come back to the market.

Something which is less clear is the local political situation, one which has been hamstrung for more than two years now.

Our politicians owe it to the electorate to get back to

the business of governing to provide the additional certainty needed for investors to get back up to speed and, just as importantly, get infrastructure projects moving.

There has been a dearth of leadership from all corners in recent times so let’s hope 2019 provides a steadier platform for us all to make correct business decisions.

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Eye on Business Leaders Forum

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Angela McGowan CBI NI Director

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BI members across Northern Ireland and indeed right across the UK are hoping that very soon we will see a consensus across parliament for a Brexit plan which works for the economy and all the UK regions. Hopefully that agreed parliamentary plan will be realistic, i.e it needs to be acceptable to the EU. It also must provide a guarantee that there will never be a return to a hard border in Northern Ireland.

Companies want a UK/EU deal which allows for frictionless trade flows. They hope for a deal that protects supply chains and their just-in-time production models. They also need to see a transition period in place and, above all else, they hope to see a no-deal Brexit taken off the table as soon as possible.

There are of course fears for how things will play out if politicians continue to play a game of “who blinks first”.

Unfortunately, at the beginning of the year, companies have been forced to focus time and resources trying to look for ways to mitigate the damage from a no-deal Brexit. Some have been spending money stockpiling components and many have been forced to buy or rent extra storage facilities to avoid their products or components getting stuck at ports. Some Northern Ireland companies have been exploring ramping up offices and production facilities in the Republic of Ireland or elsewhere in Europe. This means that firms are now directing money that should have been spent on investment into producing contingency plans for no-deal.

There is a huge opportunity cost to the prevailing uncertainty. But the government could help to relay such fears and divestment by taking a no-deal Brexit off the table as soon as possible.

Let’s hope in the weeks ahead politicians’ step back from the brink, focus on compromise and create the conditions for the economy to thrive in 2019.

Eye on Business Leaders Forum

Brian Gillan Head of Business and Corporate Banking at First Trust Bank

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hile the business community has had a lot of practice recently learning how best to operate within an uncertain political and economic climate, the latest wave of our all-island research into business sentiment towards Brexit finds that uncertainty is significantly weighing on investment confidence.

52% of SMEs locally who had planned to invest or expand now state that these plans have been reviewed, postponed or cancelled as a direct result of Brexit.

Not surprisingly, we have seen

an uptick in the number of NI companies investigating their Brexit planning (44%). Given the lack of consensus within the UK parliament about the Withdrawal Agreement and little clarity on what a subsequent trade deal might look, planning can be a tough ask. We would however like to see more companies examining the potential impact of leaving the EU on their business and supply chains, and therefore the challenges and opportunities that might arise over the next 12 months and beyond.

Despite the negative sentiment, we shouldn’t forget

that we have seen decent growth since the vote in 2016.

NI businesses are resilient and demonstrate attributes such as flexibility, adaptability and partnerships which in these uncertain times are a prerequisite for success.

Political leadership however is a vital missing ingredient both in respect of Brexit and locally with regard to our assembly.

Many customers will continue to create new opportunities, pivoting or expanding their propositions, responding to market challenges and client needs whether that’s retailers exploring e-commerce and creating

new shopper experiences, manufacturers automating their processes to hotels building spa experiences.

Hopefully our politicians will lend a hand by working to avoid a ‘No Deal’ Brexit.”

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Eye on Business Leaders Forum

Danielle McWall Head of Department of Accounting, Finance and Economics, Ulster University Business School

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t is well documented that the economic impact of Brexit is anticipated to be considerable however, because of our history, politics and geography, NI businesses are resilient, and my hope is that they continue to harness this resilience to survive, manage and grow despite the Brexit uncertainty.

NI businesses are growing, albeit at a slower rate than we would like. The January 2019 NICEI1 results show 2.1% annual growth in real terms. NI unemployment rates are also faring better than that of the UK, EU and RoI. NI unemployment in September 2018 was 3.9% compared with the UK (4.1%), EU (6.7%) and RoI (5.4%)2.

One of the main challenges in the coming 12 months is the tightening of the labour market with little capacity, which will put further pressure on business growth. Businesses need to ensure that there is significant investment in people to grow the business. My hope is that through investing in people who can challenge what the business does and how it does it, we will see real growth and margin improvement for NI businesses.

There are clearly challenging times ahead and it is easy to be distracted by factors you cannot control, but what it has done for us at the Department of Accounting, Finance and Economics is to focus on how we can build future talent.

All our programmes be they undergraduate, postgraduate, masters’ top-ups, or businesstailored, develop entrepreneurial skills and equip students with the skills to analyse, critique and challenge. We want our students to have the resilience businesses need in today’s uncertain climate.

Ultimately, when I see the quality of students at Ulster University, their enthusiasm, ambition and drive, I can only be positive.

1 Northern Ireland Composite Economic Index, Quarter 3 2018 (17, January 2019) 2 NI Statistics and Research Agency, Labour Force Survey latest results (11, December 2018)

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Eye on Business Leaders Forum

Judith Totten Managing Director, Upstream Working Capital Ltd

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hen I was asked to pen my thoughts on the economy in Northern Ireland in 2019 in the context of BREXIT, would it be rude to say, I sighed? But when I look around me and I engage with colleagues, clients and friends alike, I think it is fair and honest to say that we are all weary of the headlines and the endless sniping and negativity.

We all have an opinion – right or wrong – but on one thing we are all agreed. Can we please just get on with it? Stay or go, Deal or No Deal, Hard Border or … not.

Yes, we need a negotiated settlement and we need to get there fast – but day to day, we

simply need to work, pay our bills, educate our children, care for our sick and elderly, travel, trade and build on our vibrant local economy. We have amazing resilience in Northern Ireland, we have a strong work ethic and we have talent in abundance. We are not perfect, and we have our issues, but this is still a great place to live, work and raise a family.

So, my hope is for a breakthrough in the local leadership impasse – and conversely, my fear is inertia and ingrained tribalism preventing that.

My wider hope is for BREXIT – in whatever form – to be resolved and that as business owners

and citizens of NI we can get on with implementing whatever changes come for our collective advantage. My fear is a ‘No Deal’ outcome dragging this uncertainty and turbulence on and on, as there will be corporate casualties and frankly our talented young people will be lost to other regions – and they are our future.

NI is like any business – it needs leadership and direction to be strategic and successful on a global platform. We certainly have the ingredients – we have just lost the recipe.

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Eye on Business Leaders Forum

Kevin Kingston CEO of Danske Bank

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hile Brexit will of course be on everyone’s mind this year, it is vital that it isn’t the only thing we focus on and that it doesn’t hold back the fantastic progress being made to transform Northern Ireland into an international hub of innovation and creativity.

Amidst ongoing uncertainty, we must continue to champion innovation, providing an environment that supports the entrepreneurs behind the growing number of digital and knowledge-based start-ups who have the potential to compete globally with the products and services they’ve developed.

Although barely a day goes by when the Irish border is not in the headlines, there are no borders to limit the expansion of these high potential companies. The scale of the opportunity for some of them to grow, create wealth and become major employers should not be underestimated.

However, competition is fierce in the tech world and these fledgling companies need support to scale their businesses. Securing investment, hiring talent, product testing, network development, sales and marketing strategies, customer retention, intellectual property – the list of challenges for early stage ventures can be daunting.

But it is our belief that these companies can be a driving force for the local economy in future. That’s why Danske Bank has partnered with entrepreneurial support expert Catalyst Inc to create Catalyst Belfast Fintech Hub, Belfast’s first dedicated fintech hub, on the ground floor of our city centre headquarters.

These innovators have more chance of realising their potential and unlocking opportunities if they are part of a wider business community that collaborates and provides access to expert advice and practical support.

Innovation doesn’t happen in isolation. Both the private and public sectors have a huge role to play in nurturing it. For the good of the economy, I hope in 2019 we don’t lose sight of that bigger picture.

Eye on News

Baker Tilly Conference Comes To Belfast

Murray Watt, Regional Director, EMEA, visits Belfast ahead of the Baker Tilly International’s EMEA Regional Conference in May. He is joined by Joanne Small, partner at Baker Tilly Mooney Moore (left) and Rachael McGuickin, Director of Business Development at Visit Belfast.

Accountancy and advisory firm, Baker Tilly Mooney Moore, will this year welcome delegates from the global Baker Tilly Network to Belfast for a prestigious international Conference.

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aker Tilly International’s EMEA (Europe, Middle East and Africa) Regional Conference will take place in Belfast for the first time since its inception 30 years ago. Since the first Summit in 1988, Baker Tilly International has evolved into a $3.6bn organisation with a workforce of 35,000 colleagues, in 746 offices worldwide.

On 10th May, Belfast will host delegates for the five-day conference which will be held at the Europa Hotel, with gala events held at various other venues including Belfast City Hall and Titanic Belfast.

Organisers expect the conference to attract around 250 delegates from around the world to take part in the packed programme of technical sessions, collaborative meetings, thought leadership and motivational keynotes.

Ted Verkade, Baker Tilly International CEO said: “This year’s highly anticipated EMEA Conference represents the beginning of a dynamic next chapter for our network, as members from around the world gather in Northern Ireland to collaborate and share expertise.”

Murray Watt, Regional Director, EMEA continued: “I am excited

to be working with Baker Tilly Mooney Moore as hosts of our 2019 EMEA Conference. Belfast is the perfect choice as a vibrant, fast growing economy that reflects our own focus on growth.

A key element of our conferences is relationship building. The warm-welcome and personal approach I have experienced from our colleagues in Belfast will provide the perfect backdrop to foster closer relationships. I would also like to acknowledge, and thank, Visit Belfast for their support in building a programme that allows us to experience the City together at its finest.”

Rachael McGuickin, Director of Business Development at Visit Belfast, added: “We are delighted that Belfast has been chosen as the host city for Baker Tilly International’s EMEA Regional Conference. The event will make a significant contribution to the city’s growing tourism economy

so we are grateful to Baker Tilly Mooney Moore for working with us to bring the conference to the city.

“Belfast is an award-winning events destination, so we look forward to welcoming the delegates to the city later this year and showing them everything Belfast has to offer.”

Baker Tilly International is also proud to unveil a new logo, visual identity and new purpose – Now, for tomorrow – as part of the ongoing evolution of the Baker Tilly brand. Baker Tilly Mooney Moore will encompass the new brand identity which is aimed at strengthening and modernising how the global business represents its network to its clients, people, profession and the communities in which it operates.

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Eye on Agri Food

Fiona and David Boyd-Armstrong of Shortcross Gin which now selling in 30 markets including the US, Australia and United Arab Emirates

Distillers In High Spirits As Exports Pour In For Our Unique Craft Gin Serves Gin is Northern Ireland’s fastest growing and most successful craft spirit. Sam Butler talks to local gin distillers making an increasingly significant impact on export markets.

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hortcross, Jawbox, Boatyard and Copeland, Northern Ireland’s leading gin producers, have all recently announced export successes in markets as diverse as Australia, Sweden, France, Denmark, Switzerland and Estonia.

Both Shortcross, which secured recent business in Australia and now sells in 30 international markets, and Jawbox are also making an impact in the vast US market. Recent business for Jawbox has included France, Australia, Switzerland and Sweden, while Saintfield-based Copeland, a producer of gin blended with local fruits, has just landed its first export deal, in Estonia, a good

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market from which to access Russia, Latvia, Lithuania, Finland and Norway.

Boatyard, in Enniskillen, is now shipping gin to Denmark and Switzerland.

They are part of the rejuvenation of the juniper-flavoured spirit which has been transformed by craft distilleries from so-called mother’s ruin to the hippest alcoholic beverage. British consumers, in fact, purchased more than 60 million bottles of gin in the 12 months to June 2018. Sales in the UK were worth more than £1.6bn up 38 percent year on last year.

And combined yearly gin sales in the UK and overseas have doubled in the past five years. There are now over

400 gin distilleries in the UK, according to the Office of National Statistics.

In the last 12 months, British gin exports reached almost £500 million.

Gin is clearly outperforming every other spirit in terms of sales growth in the UK and now accounts for 68 percent value growth across spirits. Contributing to the growth of gin is its versatility as a base for a wide range of highly creative cocktails. Exports of Irish gin have also surged to a record level in 2018.

Three of our distilleries, Shortcross, Jawbox and Boatyard, have grasped the opportunity by producing unique cocktail ‘serves’. Shortcross, in particular, has organised an innovative competition for bar mixologists to develop original cocktails and used the winning gin in a limited edition version.

Jawbox has also extended its appeal to cocktail mixologists with the recent introduction of liqueur gins flavoured with rhubarb and pineapple with ginger.

Both are now part of the small batch distillery’s international market drive.

It is produced at Echlinville Distillery in Kircubbin with Echlinville Gin. Gerry White, who founded Jawbox in 2016, the first local gin to be launched in Belfast in more than century, says: “We’ve been building our international distribution network steadily over the past year and have a number of important agreements already in place to help accelerate the export sales of Jawbox and especially our new liqueur gins for cocktail bars.”

Gin is rapidly becoming part of the food culture, says Miles Beale, chief executive of the UK’s Wine and Spirit Trade Association. “People are drinking less, but they’re more interested in what they’re drinking. They will spend money on it,” he adds. Hence the success of higher priced craft gins with the type of interesting back stories now underpinning our spirits. They also emphasise provenance and natural ingredients.

David Boyd-Armstrong, founder of Shortcross with wife Fiona in 2012, says “Shortcross, for instance, harvests botanicals such as apples, elderflowers, elderberries and wild clover from the distillery’s location on the vast Rademon Estate, near Crossgar. Water used in the process is also drawn from an aquafer on the family estate.”

Jawbox is distilled from barley grown on an estate at Kircubbin and botanicals include heather harvested from the slopes of Belfast’s Black Mountain, while Boatyard, near Enniskillen, incorporates Fermanagh sweetgale, a shrub growing wild in the Lakelands. Echlinville Gin includes local gorse and seaweed from Strangford in its botanicals.

In addition to the established local gins, several newcomers, including Ion Distillery in Carrickmore, Co Tyrone and Mourne Dew in Rostrevor, Co Down, are now bidding for business here and abroad. Ion, which means pure in Irish, was launched by successful craft brewer Darren Nugent of Pokertree Brewery earlier in the year.

Rostrevor-based Mourne Dew’s logo takes its inspiration from Bronze Age Gold Lunulas (neck collars) which are believed to have been made using gold from the Mourne Mountains. The distillery has even employed an ethnobotanist to scour the slopes, foraging local edible botanicals. It’s created “a library of very special tinctures using a low temperature, vacuum distillation process to gently extract the flavours from the delicate flora”, according to the recently launched company.

Eye on Agri Food

Joe McGirr, founder of Boatyard Double Distilled Gin near Enniskillen, is exporting to Denmark and Switzerland

Gin distilleries here, furthermore, are stirring up tourism interest through the creation of attractive visitor centres.

Those enjoying the experience as well as the gin are also fuelling the growth in sales. Visitors to Northern Ireland can now see craft gin being distilled at Rademon Estate, Jawbox and Boatyard, the latter established

by Joe McGirr, who has vast experience in both gin and whisky marketing.

Visitors to the Rademon Craft Distillery, which produced the first gin here in over a century, enjoy a multi-sensory experience. Unlike any other distillery experience in Ireland, visitors are greeted and briefed by David-Boyd Armstrong, the master distiller. Included is an exclusive, behind the scenes look at the distillery and the precise, by-hand processes that make Shortcross Gin so special.

At the heart of the distillery is a 450litre copper pot still, furnished with two enrichment columns – the only of its kind in the world. The process is completed from start to finish under the watchful eye of David. Throughout the process, he tastes and noses each cut to ensure the renowned quality and continuity of every single batch of Shortcross.

The distillery will shortly launch a new malt whiskey and will be also well-positioned to benefit from the remarkable growth in whiskey tourism throughout Ireland. Upwards of one million people, mostly tourists from the US and Europe, tripped around Ireland’s 15 whiskey distilleries last year, a measure of the tourism potential of spirit distilling throughout the island.

2Gareth: Gareth Irvine, founder of Copeland fruitinfused gins, has won first export business in Estonia

“The visitor centre is now a key aspect of our business,” Boatyard’s Joe McGirr says. “Our location in one of the most picturesque parts of Ireland, overlooking Lough Erne, means we can benefit from the growth in tourism and also offer visitors another and very appealing attraction.”

Boatyard has expanded its range of double distilled gins and has developed a ‘seed to sip’ vodka, made using organic Irish wheat from county Kildare. The ‘seed-to-sip’ ethos enables the distillery to trace the wheat used in each individual bottle back to the farmer and even the field in which it was grown. It’s the only distillery in Ireland using organic Irish wheat.

The spent grain goes to local farmers who use it to feed what are probably the happiest cows in Fermanagh.

Soon Boatyard will launch the first malt whiskey distilled in Fermanagh in over a century.

Another with plans for a visitor centre is Copeland Gin in Saintfield, a specialist in fresh fruit-infused gins, which has just landed business in Estonia.

Copeland blends gin with raspberries, blackberries and blackcurrant, also ideal for original cocktails. It plans to move to a new distillery in Donaghadee.

The company has won listings with major retailers such as Tesco, Marks and Spencer, Sainsbury, Aldi, Lidl and Musgrave Group, is also shipping its gins to Britain and the United Arab Emirates. The visitor centre is part of exciting plans to grow the business here and abroad.

Gerry White, founder of Jawbox Classic Belfast Dry Gin which is now selling internationally, most recently Australia

Visitors will also be able to see gin, vodka and a Cuban rum being distilled at Ion in Carrickmore soon. The distillery is a development of the Pokertree craft brewery established by marketer Darren Nugent in 2013. He’s also got an Irish malt whiskey in his blueprint for the future.

“We certainly have a good range of ales and stout which are popular especially in Northern Ireland and parts of the Republic of Ireland. However, I saw an opportunity to grow the business faster by investing in distilling spirits especially rum, vodka and gin,” Darren explains.

“The processes are similar, and I decided that the future development of the business would benefit substantially by distilling Northern Ireland’s very first Cuban style rum. While I’ve introduced spirits I will still continue to brew and develop the Pokertree beer range.

All the spirits are distilled on-site adjacent to the brewery. “They are all made from scratch,” he says.

He’s invested in three copper pot stills and associated condensing columns in a new plant adjacent to his existing brewery in the Tyrone village, located between Cookstown, Dungannon and Omagh. “I opted to invest in three separate stills for the rum, gin and vodka because I wanted to focus on the purity of each spirit and not try to produce all of them on one. This is also why we’ve chosen the ‘Purity of Spirit’ strapline,” he adds.

His unique back story is based on local geography. “Each spirit is handcrafted in small batches using fresh water from the distillery’s own artesian well

and are then filtered over volcanic rocks underpinning the distillery.

“Using volcanic rocks reflects our commitment to the locality. Carrickmore is the Irish for big rock and is partly built on ancient rock formations dating back millions of years,” Darren explains. “Our focus on authenticity is carried forward in our use of rum yeasts. Our first rum is a spirit aged in bourbon barrels and featuring Caribbean spices to produce a spiced rum that’s whiskey casked and has very distinctive flavours and taste.”

And why not mix your gin with a unique handcrafted tonic from Longbridge craft minerals in Belfast!

Longbridge, formed last year by Wayne Adair has also developed a Belfast Ginger Ale for Irish whiskey.

Darren Nugent founder of Ion Distillery in Carrickmore, Co. Tyrone, is producing gin, vodka and a Caribbean rum

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New Job. New Opportunity. New You. Eye Moving On

graftonrecruitment.com

Business Eye Banner Ad.indd 1

14/01/2019 11:57:32 1 Re-Gen Waste has announced that Colin Walsh, Chief Executive and founder of Crescent Capital, has been appointed to its board of directors. Mr Walsh has been an active venture capital investor in the local manufacturing and high-tech sectors for over twenty years and is currently chairman of Acheson Holdings Limited. He also holds directorships at NiSoft Holdings Limited, Fusion Antibodies plc, Replify Limited and Belfast Power Limited.Mr Walsh previously served as the CBI Chair for Northern Ireland and Chair of Andor Technology plc; he is also the trustee for NI on the UK board of Barnardo’s.

1 Colin Walsh

2 Laura McCorry

3 Michael Barnett

2 Historic Royal Palaces has appointed Laura McCorry as the Head of Hillsborough Castle and Gardens.

Laura will oversee the £20 million major project to transform the Castle, which is set to open to the public on 10 April 2019. Leading an expert team of conservators, curators and gardeners, she will manage the development and conservation of the historic site.

Accountancy firm McAleer Jackson has announced 3 the appointment of Michael Barnett as director.

Mr Barnett, from the Clogher Valley, brings 20 years’ experience with two mid-tier firms to the company together with specialist knowledge in advising owner-managed and growing businesses.

4 Eoin McGrath has been appointed as Luxury Leisure Sales Manager with Hastings Hotels. He has 10 years’ experience in the hospitality industry and has worked for Hastings Hotels for three years. Eoin is responsible for overseeing the luxury leisure sales bookings from across the world for Northern Ireland’s leading collection of hotels.

4 Eoin McGrath

5 Chris Kilpatrick

6 Wendy Close

5 Chris Kilpatrick becomes Mid as Strategic Communications Manager at Mid & East Antrim Borough Council. A journalist by trade with over 10 years’ experience across titles such as the Belfast Telegraph and Daily Mirror, Chris’ previous role within the Council was as Media Relations and Communications Officer.

6 Wendy Close has been appointed as Group HR Director at Prestige Insurance Holdings, the parent company of Abbey Insurance Brokers.

She was previously Bank of Ireland’s Senior HR Business Partner in Northern Ireland.

7 Dr Dennise Broderick

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7 Galen Ltd has announced the appointment of Dr Dennise Broderick as its new Managing Director and President. She will report to Alan Armstrong, CEO and Chairman, Almac Group, - the parent company of Galen Ltd. Most recently Dennise held the position of Country Manager, leading the Irish affiliate of IPSEN Pharmaceuticals and was responsible for all aspects of the business.

Prior to this Dennise also held CEO/MD and senior leadership roles with Pfizer, Hospira, Zeneus, Viatris and other pharmaceutical companies both in Ireland and Europe.

New Job. New Opportunity. New You. graftonrecruitment.com

Business Eye Banner Ad.indd 1

14/01/2019 11:57:32 Moy Park has announced the appointment of 8 Nicky Taylor as Head of Talent and Employee Experience. With a strong track record of leadership and talent development in the food industry, Nicky has over 17 years of experience, having held the role of Head of Organisational Development at Samworth Brothers and most recently Head of Leadership and Talent Development at Tulip.

8 Nicky Taylor

9 Sean Boyle

10 Darragh Rutherford

9 Sean Boyle has been appointed Delivery Co-Ordinator for Into Film’s new ScreenWorks project. ScreenWorks, supported by NI Screen, is an exciting new scheme to help young people in Northern Ireland aged 16-19 explore career options in screen crafts through a range of unique work experiences delivered by leading industry professionals.

10 Darragh Rutherford has been appointed as Head of Finance for leading fit-out specialist, Portview. Formerly the Financial Controller for Terex Corporation, Darragh brings with him fifteen years of invaluable experience in the Manufacturing, Construction, Mining and Retail sectors.

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11 Michael McCrory

12 Anna McKelvey

13 Gregg Reid

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PR and content agency Smarts Communicate has welcomed four new members of staff to its creative team.

Michael McCrory has been appointed as a Senior Communications Consultant, bringing over 15 years’ experience to the business having worked with a large number of major corporate and consumer brands across Ireland and the UK. Anna McKelvey joins Smarts Communicate as a Senior Communications Consultant with seven years’ experience working within digital marketing and a passion for content creation. Gregg Reid has been appointed as a Communications Manager.

An accomplished video editor and producer, Gregg joins Smarts’ digital team working on developing and delivering cutting-edge digital content strategies. Tim Acheson also joins as a Communications Manager. His previous experience includes helping brands to transform their digital footprint and grow their visibility as well as rolling out experiential campaigns and activations.

15 Matthew Hamilton becomes Assistant Contracts Manager at Hagan Homes. Matthew has several years of experience in the construction industry, with a background in site engineering and involvement in a number of high-profile projects. Prior to this Matthew worked in the services sector.

14 Tim Acheson

15 Matthew Hamilton

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Eye on Management

Growing your business during Brexit - what to ‘remain’ and ‘exit’ It’s a topic people are both gripped by and bored of. It’s apparently dividing families and long-standing friends who are on very different sides of the fence. And it could be one of the biggest opportunities for our country or it’s downfall, depending on your point of view.

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owever, regardless of Brexit, local businesses must forge ahead in their day-to-day endeavours as we await the final outcome, or the next twist in a tale which has more disputes, finger-pointing and threats than any divorce court has ever seen.

But what do you do as a business when deals and no-deals are still being thrashed out and uncertainty looms large? Local entrepreneur and business author, Philip Bain, co-founder of ShredBank, shares his thoughts on what should ‘remain’ and what should ‘exit’ if you’re running - and growing - a business during Brexit.

Your nerve...must remain In business, when trouble comes along – something as inevitable as death and taxes - the worst thing you can do is lose your nerve. At the minute, as Brexit rolls on, there has been a lot of flapping about and panicking by many people - mostly politicians. Everyone simply needs to calm down.

Losing your nerve will bring you no advantage, in fact it will deliver the opposite. Worrying won’t change anything; but losing your nerve will increase

your stress and emotions and ultimately cloud your judgement and dilute your ability to make good, rational, decisions based on solid data. So don’t panic.

Your business model...must remain When problems and unrest arise in any form there can be a temptation to ditch the business model, turn it upside down, or just throw it out of the window. But it’s important to stick to the plan. When we lose our nerve, we are more likely to panic and start changing things in a knee-jerk, irrational way.

Don’t do this. Instead keep your business model.

As with every plan, it’s important to be flexible, adapt, and refine it accordingly, but don’t abandon it. One thing you need to ensure is whether your business model is still relevant. To do this, simply apply the four-point test with the following questions: Does my business solve a problem? Are there people still suffering that problem? Do the problem sufferers want a solution to the problem? And, can I provide the solution at a price less than the cost of enduring the problem?

If you pass this four-point test - you are relevant. So the business model must remain.

Your investment plans...must remain Many businesses are holding back on investing or cancelling their business investment plans altogether. I would urge a different approach.

If you plan to be in business in the long-term, investment needs to continue in all circumstances.

In fact, while many businesses are cutting back, by continuing to invest, you immediately give yourself a competitive advantage by investing at a time when others are not. I suggest investment in marketing is particularly important to ensure you grab the best of the business opportunities out there!

Philip Bain of ShredBank

Exit …from unprofitable products or services Absorbing unprofitable products or services during the good times may be an affordable luxury but it’s certainly not productive during potentially uncertain economic times. Review everything you do and make sure that whatever you are doing, and whatever you are selling, it is genuinely profitable. The dead wood has got to go.

Exit …the middle ground The middle ground in the market is a straightforward nightmare. As the name suggests, the middle ground has a middle-of-the-road offering, with middle pricing, and middle quality and it’s a very crowded space. In this market space, it’s very competitive, very price sensitive and nothing short of impossible to make a profit or grow your business within. Instead, move out of the middle ground and shift towards either a budget model or high-end, quality model. It might feel risky at first, but the opportunities are so much greater.

Exit …anything holding your business back Get rid of products that are unprofitable as they will hold your growth back by eating cash. Stop using processes that are inefficient because they will hold you back by causing a lot of downtime. And finally free yourself of any people that are holding you back as they will consume you with difficulties and divisions. Ultimately, unprofitable products, inefficient processes and the wrong people need to exit the building!

Philip Bain is the co-founder of ShredBank which uses mobile shredding trucks to shred confidential information at clients’ premises, giving peace of mind from a service that delivers security, transparency and legal and environmental compliance for its growing list of customers. Philip has also published two books, Start to Grow and Start to Lead, which are based on his own personal experiences of launching and growing businesses, and have become Amazon best sellers.

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Eye on News

BELFAST TO HOST MAJOR EVENTS INDUSTRY FORUM Belfast has been named as the official destination for the 2019 Conference and Incentive Travel (C&IT) Agency Forum.

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uccessfully secured in partnership

by Visit Belfast, Tourism Northern Ireland, Belfast ICC, Titanic Belfast and Hastings Hotels, this sought-after event represents a major coup for Belfast and Northern Ireland’s drive to bring in even more business tourism opportunities in the years ahead.

The annual event, which has only been held outside London once previously in its 10-year history, will bring more than 100 of the UK’s leading and most active event planners and suppliers to Belfast this summer (30 July – 2 August 2019).

C&IT is the UK’s leading, influential brand for the Meetings, Incentives, Conferences, and Events (MICE) industry and provides a key source of information, news, collaboration and

networking opportunities through its expansive and unrivalled portfolio of print and digital outlets.

Senior planners and managing directors from major UK event agencies will attend the four-day event, which provides the opportunity to meet and network with key industry suppliers.

In addition, Visit Belfast also confirmed that a second event – C&IT’s Corporate Forum – will also be held in Belfast next summer, bringing up to 40 corporate event organisers together in venues around the city.

Belfast secured the conference highlight following a recent site visit to the city by senior C&IT officials who chose Belfast over other UK rivals for its hospitality and welcome, state-of-theart venues, award-winning attractions and unrivalled entertainment.

Rachael McGuickin, Director of Business Development at Visit Belfast, said: “This is a major coup for Belfast.

These flagship industry forums are attended by many highly influential global event organisers who between

(l-r) Oonagh O’Reilly, ICC Belfast, Laura Cowan, Titanic Belfast, Rachael McGuickin from Visit Belfast, Hastings Hotels’ Catriona Lavery and Eimear Callaghan from Tourism NI.

them control a combined annual spend on events worth £450 million.

“The decision by C&IT – the industry leaders – to base themselves here for these pivotal events represents a real vote of confidence in in our city.

“Belfast is now competing at the highest international level. Only a few months after being officially recognised as the Best Events Destination, the decision

by C&IT to bring its annual forums to Belfast is potentially transformative for

a city that is focused and committed to business tourism success.

“We look forward to warmly welcoming these important guests to Belfast and to the positive impact and long legacy which these events will bring.”

The C&IT Forum is renowned within the industry, and attracts the biggest and most successful companies, including “super agencies” like BCD events, Banks Sadler, CWT, Concerto Group, George P. Johnston and Ashfield Meetings and Events.

Manufacturing NI launches Leadership Summit ‘Anchor High’ Manufacturing NI has launched Anchors High, an exclusive leadership summit event to be held at The Lough Erne Resort on 12th and 13th March.

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earing from pioneering leaders with experience of industry and beyond, attendees will be challenged, inspired and have their mindset transformed through a series of hands on workshops, insightful keynotes and reflective sessions, gaining insight into new options and models of operation that will redefine manufacturing.

CEO of Manufacturing NI, Stephen Kelly commented: “With so much uncertainty around, this isn’t an easy time to be a manufacturer. They have a lot of real work to do and real-world challenges to wrestle. Now more than ever we need talented and committed leaders. This is why we’ve launched “Anchor High”.

A chance for our manufacturing leaders to learn, work and share with their peer group to create

more partnerships, more wealth and more work”.

He added; “Our leaders know we are in the middle of a transformative period, nourishing a talented workforce, investing in product and process innovation and adopting new models of smart manufacturing. Our summit will vice firms the chance to explore and to share best practice, build relationships with others facing or beating similar challenges and work together to build strong firms, communities and the economy. It’s a chance to challenge themselves and others just like them”.

Johnny Hanna, Partner and Head of Tax at KPMG in Northern Ireland said: “We are delighted to be the lead sponsor of this inaugural Leadership Summit. Manufacturing is fundamental to the Northern Ireland economy and this summit provides an excellent opportunity for leaders in manufacturing to share their knowledge and experience amongst peers whilst also gleaning best practice insights from global experts”.

Manufacturing NI is also delighted to have Pinsent Masons and Barclays Bank as their Silver Sponsors for the event.

Launching the event are John Hart of Pinsent Masons, Mary Meehan from Manufacturing NI, John Mathers, Barclays Bank and Johnny Hanna, KPMG. For more information or to book a place, please visit www.anchorhighsummit.com Early booking is advisable as places are restricted.

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Eye on News

Construction Begins At GroundBreaking £9M Cold Storage Facility

Richard Gillan, Managing Partner, Grant Thornton, Michelle Harbinson, Head of Business Acquisitions, First Trust Bank and Carn Coldstore owner Patrick Derry are pictured at the site of the ground-breaking £9 million cold storage facility at Carn Industrial Estate, Co Armagh.

Construction has begun on a £9 million cold storage facility and transport depot, the first of its kind in Northern Ireland, at Carn Industrial Estate with support from First Trust Bank.

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arn Coldstore is owned by Patrick Derry, Managing Director of Derry Refrigerated Transport. The 52,000 sq ft warehouse facility, due to open in Autumn next year, will be the tallest in Ireland standing at 17.5 metres high and will allow products to be stored from -25 to +5 degrees.

A new venture for the Kilmore

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businessman, Carn Coldstore is expected to create 50 new jobs by 2020. The cold storage and freezer facility will be equipped with state-of-the-art Co2 refrigeration equipment provided by Armagh company, Cross Refrigeration.

The site will also feature rain water harvesting technology, helping create further energy efficiencies and reduce the business’s carbon footprint.

Speaking about the investment, Carn Coldstore owner Patrick Derry said; “Carn Coldstore complements the services being delivered by Derry Refrigerated Transport, providing new and existing customers with convenient and reliable storage near at hand.

It’s a substantial investment, and one we are putting to good use with advanced equipment that can deliver real-long term

savings to us and our customers.

“It’s great to see construction moving swiftly at the site and we’re working with talented local builders and developers including MDK Construction to get the business operational by autumn next year. First Trust Bank and Grant Thornton have also been a great help on the project, getting finance over the line quickly and offering advice and support.”

Michelle Harbinson, Head of Business Acquisitions, First Trust Bank said; “We are thrilled to help Patrick realise his vision for Carn Coldstore and provide support across his growing business portfolio. Home to the most advanced equipment available in the sector, Carn Coldstore together with Derry Refrigerated Transport will provide businesses with much needed transport and

cold storage facilities, particularly important to our expanding agri-food and retail industry.

It’s great to see local business leaders like Patrick evaluate the marketplace and push for innovative growth opportunities.”

Richard Gillan, Managing Partner, Grant Thornton added; “With an investment of £9 million and the potential to create 50 jobs in the next two years, we were delighted to support Patrick with fundraising support and advice.

Carn Coldstore is a fantastic facility which will be welcomed by many in the supply chain throughout the island of Ireland and the UK. It is important that entrepreneurs like Patrick Derry continue to receive the support they require as their businesses go from strength to strength. We wish him and the team well in this latest venture.”

Eye on Internet

They would have asked for faster horses – but only in black

By Gareth Dunlop, Fathom.

The business textbooks are rightfully kind to Henry Ford – kinder certainly than to his only recognised son Edsel Ford – after whom the least successful automobile in the company’s long and proud history was named.

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ord Senior rightly garners much credit for the democratisation of the motor car, propelling it from aspirational to attainable in a generation through efficient production processes and widespread availability via innovative franchising models.

Despite imparting much wisdom over his decades in leadership, he is most commonly remembered for two memorable quotes.

The first one, “You can have it in any colour you want as long as it’s black” surely was one of those jokes where you had to be there? Perhaps Henry’s team had grown used to the idea that Henry’s jokes needed laughed at, whether funny or not. “You can respond to my bad jokes any way you want as long as it’s with uproarious laughter” might be closer to the truth.

It’s his second famous quote that forms the basis for this tome however “If we’d asked our customers what they wanted they’d have said faster horses”.

At first glance this appears to suggest that customer research is the enemy of innovation however I hope to argue that the opposite is the case.

The reason? Because you invest in your customers not to mine for the solution but to understand the problem. In fact, it’s because

of the complementary nature of understanding the customer and innovation thinking that all of the respected methodologies around product, service and experience design insist on first understanding the problem before designing the solution.

If Ford had spoken to his customers he would have learned that they wanted a faster way to travel from A to B, that horses were smelly and highmaintenance and that carriages were too expensive for all but the upper-middle and upper classes.

In other words, he would have realised that there were real transport problems which could be solved through innovation.

His customers therefore would have helped him define the problem statement. It was always going to be the job of Henry and his boys to innovate the solution.

Ford, like other famous visionaries such as Jobs and Branson were born with an innate intuition which allowed them to distill shifts in society, technological advances and commercial opportunity to innovate and make money.

However, for mere mortals like you and I, the componentry of innovation has been deconstructed into structured methods which help guide the origination process.

Five whys (an iterative interrogative technique used to explore the cause-and-effect relationships underlying a particular problem), the magic question (“if you had a faster horse, what would you let it do”), and innovation sprints all provide means by which designers and strategists give themselves the very best opportunity for good outcomes.

Ford’s intuition was to fail him in the 1920s, as General Motor’s research-led approach gave them competitive advantages in trade-ins, innovative ownership models, and variations in car colour and style. Their approach to the market, underpinned by research, was simply titled “A Car for Every Purse and Purpose.”

Their competition halved Ford’s market share from 2/3 in 1921, to 1/3 five short years later.

Harvard Business Review’s Patrick Vlaskovits summarises it best “The real lesson learned was not that Ford’s failure was one of not listening to his customers, but of his refusal to continuously test his vision against reality, which led to the Ford Motor Company’s failure of continuous innovation, resulting in a catastrophic loss of market share from which it never recovered.”

It is only right that one applauds Ford’s mettle in introducing an

innovation as revolutionary as the motor-car into the mainstream.

And part of that involves admiring his intuition and his nerve in following through on his vision. But to tell the whole story, one must also reflect that this same belief in his own intuition stifled his success and his company’s growth.

Throughout, he would have got further and faster if he had complemented his own genius and bravery by investing in better understanding the needs and desires of his customers in the short, medium and long terms.

Gareth Dunlop owns and runs Fathom, a user-experience consultancy which helps ambitious organisations get the most from their digital products by viewing the world from the perspective of their customers. Specialist areas include UX strategy, usability testing, customer journey planning and accessibility.

Clients include Three, Bord Bia, firmus energy, Kingspan, AIB and Tesco Mobile. Visit Fathom online at fathom.pro

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Celebrating life, every day, everywhere

DRINK RESPONSIBLY The BAILEYS, GORDON’S, CAPTAIN MORGAN, SMIRNOFF, GUINNESS, SMITHWICKS, CARLSBERG and HARP words and associated logos are trade marks © Diageo 2015.

Eye on Events

Danske Tech Stars announced:

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our local female entrepreneurs have been crowned Danske Tech Stars after winning a Danske Bank and Women in Business competition. As part of the competition the winning tech companies: Afterbook, Health Gainz, JadBlok LTD and Senergy will benefit from 12 months’ free desk space in the new Catalyst Belfast

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Fintech Hub co-working space on the ground floor of Danske’s city centre headquarters. Pictured (L-R) are Roseann Kelly, Women in Business; Christine Boyle, Senergy; Jessica Dornan-Lynas, Afterbook; David Allister, Danske Bank; Claire McMullan, Health Gainz and Yao Yao, JadeBlok LTD.

Business leaders awake to Energy & Light

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usiness leaders gathered at Titanic Belfast on the winter solstice for a very unusual business event: On the shortest day of the year, a year that many may have found challenging with internal and external factors impacting on business success, the Management Leadership Network facilitated an event at which attendees gained insights into how they can look after their own mental health and support that of their employees.

The event, at Titanic Belfast, heard from performance coach Gerry Hussey and health and wellness expert, Miriam Kerins of Soul Space and was supported by Electric Ireland. Proceeds went to PIPS Charity which provides a range of services supporting good mental health. Pictured left to right are: Gerry Hussey, Miriam Kerins, Clare McAllister, Northern Ireland Residential Manager Electric Ireland and Kevin Kelly, Management Leadership Network.

Celebrating life, every day, everywhere

DRINK RESPONSIBLY The BAILEYS, GORDON’S, CAPTAIN MORGAN, SMIRNOFF, GUINNESS, SMITHWICKS, CARLSBERG and HARP words and associated logos are trade marks © Diageo 2015.

Eye on Events

Belfast Business Awards Launched

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aul McClurg, Head of Belfast Business Banking at Bank of Ireland UK is pictured alongside Rajesh Rana, President of Belfast Chamber of Trade and Commerce and Clodagh Rice, Business Journalist at BBC Radio Ulster at the official launch of the Belfast Business Awards for 2019 at the Grand Central Hotel.

Spanning 21 categories from Best New Business, Best Family Business, Social Enterprise of the Year, Employee of the Year to the Bank of Ireland UK Lifetime Achievement award, the awards will this year be held in the iconic Titanic Belfast on Friday 10th May 2019.

Pictured (L-R) are David McCrisken, Manager, Technical and Engineering at MCS Group; Lord Mayor Cllr, Deirdre Hargey, Belfast City Council; Chris McCreery, Director of NI Science Festival; and Heather Cousins, Deputy Secretary at the Department for the Economy.

Festival Highlights STEM Career Opportunities

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Forestside Takes Top A&B Award The annual Arts & Business NI Awards have taken place at Belfast’s Lyric Theatre in front of 300 guests. Mary Nagele, Chief Executive, and Martin Bradley MBE, Chair, Arts & Business NI join Peter Kilcullen of sponsors Allianz to present the Allianz Arts & Business NI Business of the Year Award to Lee Cutler of Forestside Shopping Centre.

ext month, the NI Science Festival, in partnership with MCS Group, will host a series of events to showcase the growing number career opportunities available with some of Northern Ireland’s top employers in STEM industries.

Taking place in the Ormeau Baths Gallery, Belfast, Beers & Careers is a series of informal meet-ups for people exploring career opportunities in any of Northern Ireland’s science, technology, engineering or mathematics industries.

Over the course of five events, attendees will have the opportunity to hear directly from some of the city’s biggest employers actively recruiting skilled graduates in areas of fintech and cyber security, health and life sciences, engineering, clean tech, creative and digital.

Chris McCreery, Director at the NI Science Festival, said: “At the NI Science Festival, we work make STEM accessible to people of all ages and abilities, and to encourage people

to develop themselves and pursue careers in these thriving industries.

“We showcase the latest advances in technology, the future of engineering, varied applications for mathematics in everyday life and cutting-edge scientific research. Through our programme of insightful and thoughtprovoking talks and discussions, we also exist to challenge audiences.”

David McCrisken, Manager, Technical and Engineering at specialist STEM recruiter MCS Group, added: “MCS Group is delighted to be supporting the Beers & Careers series which is a fantastic showcase of Northern Ireland’s STEM employers.

Each evening will feature truly innovative and cutting-edge organisations, from locally grown startups to major global players presenting the diverse and rewarding career paths within their sectors and organisations.”

The 2019 NI Science Festival takes place from February 14-24.

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Eye on News

Retail Struggles But Office And Industrial Sectors Brighter Changing shopping habits continue to be acutely felt in the commercial property sector in Northern Ireland, according to the Q4 2018 RICS and Ulster Bank Commercial Market Survey.

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weak retail sector, with declines driven by the structural shifts in consumer preferences, is in contrast to the stronger performance of the industrial and office sectors over the quarter.

In terms of occupier demand, Northern Ireland was one of only a small number of UK regions where there was an increase in the quarter; however, there was significant divergence at a sector level.

A net balance of +10% of respondents said that overall occupier demand increased in Q4 2018. Demand for industrial space (a net balance of +26% of respondents) and office space (a net balance of +48% of respondents) increased, whilst occupier demand for retail space was reported to have fallen again, according to a net balance of -41% of respondents.

Reflecting the decline in demand for retail space, expectations for retail rents in the three months ahead continued to fall (a net balance of -35% of respondents).

Sentiment regarding the rental outlook in the industrial sector (a net balance of +17% of respondents) and the office sector (a net balance of +43%)

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was significantly more positive.

Despite political uncertainty, investment enquiries were reported to have picked up for the first time in three quarters. Again, there was divergence between the sectors through, with enquiries regarding office and industrial assets rising and enquiries for retail property falling for the fourth consecutive quarter.

Brian Henning (pictured), Chairman, RICS in Northern Ireland, said: “Changes in the preferences and behaviours

of consumers are resulting in a continually challenging landscape for the retail sector and this can be seen in the data from the latest survey, with retail experiencing another very challenging quarter at the end of last year. On the other hand, sentiment amongst surveyors remains relatively positive in the industrial and office sectors, which is encouraging in the face of uncertainty. Retail aside, expectations for the market are also relatively upbeat considering the landscape.�

Eyeon Motoring

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dfcbelfast.co.uk

Eye on Motoring

Pickup your company car We looked at the key advantages of choosing a pickup as a company car.

Flat-rate BIK tax for pickups

Mitsubushi L200 DI-D Barbarian From £255 + vat/month

Check out our website dfcbelfast.co.uk for more information

Most pickups are considered light commercial vehicles (LCVs) so they are taxed differently to conventional company cars. Simply put, benefit in kind (BIK) is set at a flat rate, irrespective of CO2 emissions or price.

For the 2018/19 tax year, BIK for pickups is fixed at £3,350. So if you pay tax at 20% that’s just £670 a year or £55.83 a month. For a 40% tax payer it works out at £1,340 for the year or £111.67 a month.

When you consider that very few company cars will cost a 20% payer £50 a month, you can immediately see the potential to make savings here.

Savings on fuel

Practicality credentials

Company car drivers are taxed on private-use fuel that’s paid for by the employer, and again pickups can bring big savings here. The 2018/2019 taxable benefit amount is £633 - and you’ll be taxed at 20% or 40% of that, depending on your banding.

This differs again from conventional company cars, which have a rate set at £22,600 for the 2018/19 tax year and then multiplied by the car’s BIK tax percentage and your own salary tax band – the same way company car tax is calculated. With these considerations the pickup is the cheaper option.

Very practical with a large load space on offer and most models offer 3,000kg or more braked towing capacity too.

Opt for a double cab body style and there’s space for four to travel in comfort, and many also offer four wheel drive as standard When we’ve driven pickups off-road before we’ve come away impressed with their capabilities. So if you’re considering a 4x4 as your next company car, a pickup truck is an alternative worth considering.

We supply all makes and models of cars and vans, contact us for more information.

Local Company Local People Local Service

DFC is Northern Ireland’s only major independent locally owned Vehicle Management Company.

For almost 30 years DFC have supplied, funded and managed cars and vans. We are confident we can provide a cost effective solution for your business or individual needs.

Call us today for more information on our car and van offers on 028 9073 4222 or email sales@dfcbelfast.co.uk

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dfcbelfast.co.uk

Eye on Motoring

DFC Your Local Company For All Your Vehicle Requirements DFC are totally independent so will only ever advise on the best option for you. Below are a few special offers.

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dfcbelfast.co.uk

Eye on Motoring

As a business owner do you buy or lease your vehicles?

It’s an important question as they can eat up considerable time and money for any business.

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he truth is there’s no right or wrong answer. It depends on your circumstances.

But you don’t know if there’s an easier way or better deal out there for you?

This is why we’ve produced this FREE guide to simplify vehicle finance for you.

We want to give you key information and let you make an informed decision you’re confident in. The decision that’s best for your business.

In our FREE guide you’ll discover: t 5IF USVF DPTU PG SVOOJOH a vehicle - you need to consider more than just the acquisition of the vehicle t :PVS GJOBODF PQUJPOT - By looking at the pros and

cons of each finance option this will give you a better idea of what suits you t 8IP UIF SJHIU QSPWJEFS is for you - Tips on deciding what dealership or vehicle management company is best for you.

PLUS, get a FREE one-to-one consultation with one of our dedicated account managers to see how choosing the right finance can save your business time and money.

To download your free guide visit guide.dfcbelfast.co.uk and scan the QR code

Local Company Local People Local Service

DFC is Northern Ireland’s only major independent locally owned Vehicle Management Company.

For almost 30 years DFC have supplied, funded and managed cars and vans. We are confident we can provide a cost effective solution for your business or individual needs.

Call us today for more information on our car and van offers on 028 9073 4222 or email sales@dfcbelfast.co.uk

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dfcbelfast.co.uk

Eye on Motoring

Motoring with Derek Black dbmotoring@btinternet.com

NEW BMW X5 RANGE FACTORS IN PERFORMANCE WITH ECONOMY! T

The original X5 was a pioneer of the luxury off-road sector. Now it is just one of half a dozen BMW ‘Sports Activity Vehicles’ on offer.

he new model is a bit bigger, It has a 7 seat option but comes in a rationalised range aimed at more demanding - and moneyed - buyers.

All three engine choices are straight sixes with a top-line 400PS 50d with a twin turbo motor that can hit 62mph in 5.2 seconds! There is also 340PS 40i petrol that does the same trick in 5.5 seconds! As these are off the Richter scale for the company accountant, the go-to engine for the business buyer is the familiar 3-litre turbo diesel of the 30d with 265PS on offer.

This one can be a bit gruff at times but acquits itself very well in terms of performance and economy with 0-62mph in 6.6 seconds and 45mpg on the combined cycle. (Most of us could manage with this!) Emissions of 158g/ km put it in the 35% BIK bracket.

Considering that all X5s come with BMW’s eight-speed Steptronic gearbox and the xDrive intelligent all-wheel system these returns are all the more remarkable. This a

premium machine which delivers a better driving experience than its SUV rivals.

With a sophisticated chassis, including air suspension and anti roll mechanisms, the X5 can cope with bad surfaces without distress and still handles better than you expect. This is very reassuring on mud or snow with reserves of grip and technology to counteract excesses by the driver. There is a go-anywhere attitude.

Inside, there is a striking 12-inch colour screen and the BMW Live Cockpit Professional system. You can even set up your phone to act as a more secure car key.

There are two trim levels - xLine and M Sport. As these cars come lavishly equipped, there are fewer options. There is a Sport Plus package with Karman Kardon sound or an Off-Road package with a sump guard, mechanical differential and off-road modes for sand, rocks, gravel or snow.

Priced from £57,495, the latest BMW X5 is a formidable contender but faces stiff competition from Audi, Range Rover and Porsche.

HYUNDAI SWITCHES ON TO THE GREEN CAR MARKET WITH IONIQ Hyundai is putting it up to the Toyota Prius and co. with its Ioniq which comes as a triple whammy with hybrid, plugin hybrid and pure electric choices of propulsion. This is a significant addition to the green car market.

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usiness drivers, in particular, stand to gain most from this increase in choice. All three options offer low or even zero carbon emissions which translate to lower company car tax. Prices range from £20K to around £30K with the pure electric cars costing the most but bringing the most tax benefits.

The hybrids are powered by a 1.6 petrol engine and an electric motor with a combined power output of 141PS. The standard hybrid takes 10.8 seconds to reach 62mph

which is comparable to many diesels. Economy is rated at 78.5 mpg with emissions equivalent to 84g/km putting it into 19% BIK. The plug-in hybrid, with its larger battery, takes 10.6 seconds for the dash to 62mph. The fuel calculation rates it at 256mpg!

The emission estimate is 26g/km meaning that this car is in 13% BIK. Which hybrid to choose? If your commute is less than 30miles then the plug in is best as it can get you there on electricity alone.

Moving on to the all electric car, it produces just 120PS but has the best acceleration time of 10.2 seconds. Top speed is lower than the hybrids despite being quicker off the blocks. But the big bonus is zero emissions and zero business car tax!

Its realistic range is around 130

miles and charging takes 33minutes to achieve 80% on a fast charger or overnight on a household socket.

Choosing which version to buy requires consideration of the pros and cons of the hybrids against the electric Ioniq. Electric offers the biggest tax saving but has limited

range and is the most expensive to purchase. The hybrid may be a good compromise for those who need flexible journey capability.

The arrival of this new Hyundai brings welcome new competition to the green car maker and discounts should be possible.

dfcbelfast.co.uk

Eye on Motoring

Motoring with Derek Black dbmotoring@btinternet.com

IT’S AN MG, BUT NOT AS WE KNEW THEM BACK THEN! T

The magic MG octagon badge is back, not on a new sports car, but on the grille of a small SUV!

he ZS cross-over is the car that the new Chinese owners of the marque hope will help to double their sales in the UK (admittedly from a small base.)

Approaching the newcomer with low expectations, I found it was better than I feared. It looks sharp and modern with more space inside than some of its competitors. Just as the market is dominated by the SUV breed, the cheap and cheerful end is packed with likely contenders. There’s the Fiat Panda 4x4, the Ssangyong Tivoli, the Dacia Duster and the Suzuki Jimny - to name but a few.

The big plusses are low price and a long 7-year (80,000 mile) warranty. As four-wheel drive is not offered, maybe it is best to regard the ZS as a bigger than average hatchback roundabout, an office hack car that serves as a workhorse.

Two petrol engines are offered - a lethargic 1.5-litre with 104PS and a

5-speed manual gearbox and a 110PS 1.0-litre, three-cylinder turbo that has more than a bit of attitude and comes with a 6-speed auto gearbox. The smaller engine is more likeable and adds a bit of personality to the otherwise uninspiring driving experience.

As for running costs, the larger and more easy going 1.5 engine has a slight edge with 47mpg combined and emissions of 140g/km compared to 45mpg and 145g/km.

BIK ratings are from26%, reflecting the absence of a diesel engine.

There are three trim levels - Explore, Excite and Exclusive. You get a bright 8-inch touchscreen on all models, with the Excite adding 17-inch alloys, air con and Apple CarPlay and the Exclusive has a leather look interior and a reversing camera. Prices range from a keen £12,495 to around £17K for the Exclusive with the 1.0 turbo engine and auto box.

NISSAN’S ORIGINAL SUV GETS A POWER MAKE-OVER Nissan played a big part in getting people out of saloons and hatchbacks and into the high riding SUV cross-overs that are now crowding the marketplace.

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irst launched in 2007, the oddly named Qashqai looked like a bold gamble but turned out to be an inspired initiative.

Now that they face strong competition, notably from the SEAT Ateca, Peugeot 3008 and the Skoda Karoq, they have revisited their big seller. It gets revised engines, sharper styling and still enjoys a pricing edge over the newcomers.

How does it shape up and is it still the SUV to beat?

It is not surprising to find a new 1.3 turbo petrol alternative to the diesel engine. This scores on price and drivability, making the flexible most out of its 140PS output.

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Rated at up to 53mpg combined, it has emissions from 121g/km to 130g/km it and starts at 25% BIK. But the evergreen 1.5 dCi does even better business for high milers. A shade more sluggish with 115PS, it stretches the economy to as much as 74mpg combined with emissions of 100g/km and it gets a 24% BIK rating. It is very hushed and flexible on the road.

A more powerful 148PS 1.7-litre diesel - and fourwheel drive - is also available, together with a 160PS petrol for those who need a bit more power. A twin clutch automatic gearbox is another option.

The Qashqai is pleasant and easy to drive and feels secure on twisting roads. No SUV is quite as pleasing as a car to drive but this one is better than most. It has good grip on the bends and the ride is fairly supple compared with more sporting rivals.

No less than 7 trim levels are offered with the cheapest Visia level running to air conditioning,

remote locking, four electric windows and cruise control.

The top Tekna+ models have all the executive touches like leather seats with power adjustment but prices are up to premium levels too.

If you are content with the petrol engine, then the starting price is around 23K with the diesels nudging 24K.

2018... an award winning year for Wilsons Auctions!

Wilsons Auctions has achieved success throughout the UK and Ireland having picked up five awards and shortlisted in a further eight categories across a total of seven industry and business awards in 2018!

Recognised for our innovation, marketing and business growth over recent years, as a long-running family business, we would like to thank our staff for their hard work and the continued support of our customers and clients, as we strive to keep one step ahead of our competitors.

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