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MARTIN THOMPSON Property cycle
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An EXAMINER publication
KIRKLEES BUSINESS NEWS The business NEWSpaper for Kirklees
Small firms seek to bolster finances YORKSHIRE firms are turning to new sources of funding in a bid to conserve cashflow in the event of a “double-dip” recession, it is claimed. Birstall-based specialist business finance firm Absolute Invoice Finance, reported a 47% year-on-year rise in the number of small and medium-sized enterprises securing invoice finance facilities from the firm in Yorkshire and the north-east during the second quarter. Absolute, which is part of new British bank Aldermore, revealed the latest figures following a report by the British Bankers' Association, which showed that traditional bank lending to small businesses in May fell by more than £100m against the same month in 2009. It also comes as some analysts predict that the UK will enter a double dip recession before the end of 2010.
■ CASH CALL: David Jones, of Absolute Invoice Finance
The BBA figures showed that new loans to small firms increased by
£75m between May and June 2010 – but year-on-year term lending fell by £269m compared to June, 2009, when the economy was still in recession. Average monthly loans had declined by almost half since 2008, when banks lent an average of £991m to small firms. In 2010, the average monthly loan rate is £564m. Dave Jones, regional managing director at Absolute in Yorkshire and the north-east, said: “It is hugely encouraging that growing numbers of SMEs in the region are heeding the lessons of the last 12 months and preparing themselves well in advance of any further downturn in the economy. “The last downturn was disastrous for thousands of SMEs, many of which simply were not prepared for the triple whammy of dwindling consumer spending, cost squeezes and increased payment terms from their customers.
“Cash is king – and forward planning is crucial to ensure healthy cashf l ow t h ro u g h o u t a ny f u r t h e r downturn. “But with the major high street banks apparently reducing lending levels further or demanding hefty additional collateral from SMEs as security for loans, alternative finance may prove to be the preferred option for a large number of businesses.” Matthew Goodman, head of policy at the Forum of Private Business, said: “Our own research shows that both loans and overdrafts have decreased since the start of June – at a time small businesses need more finance in order to expand. “The need for finance is only going to increase as the economy grows and as small firms, which must be the catalyst for sustained economic recovery, try to meet renewed demand.”
Yorkshire lagging behind in workforce training YORKSHIRE is failing to keep up with other regional economies when it comes to employment rates and productivity, it is claimed. A new report – Ambition 2020: World Class Skills and Jobs for the UK – ranks Yorkshire and Humber ninth out of 12 regions in a productivity league table of the UK. Yorkshire also has a lower than average employment rate – 70.9% versus the UK average of 72.7%. Overall it ranks 10th in the Regional UK Competitiveness Index.
The report warned that the UK risks sliding down the international productivity rankings – threatening the country’s competitiveness – unless its skills and employment systems are fundamentally improved. Investors in People, the body promoting staff training and development in firms, urged local businesses to boost investment in the skills of their people to help stay on track and remain competitive. Report author Mark Spilsbury said: “In the current economic climate, it’s
more important than ever that businesses are able to get the best out of their people. “This means challenging and inspiring managers and employees at all levels to achieve their potential. “Employers have to be ambitious and act now to develop the skills they will need in future. This will improve their productivity and performance, benefiting them, their employees and the country as a whole.” Steve South, managing director of Real Radio Yorkshire, which has
Investors in People status, proposed a five-point plan for firms to improve skills and productivity. They should review their business goals and break down business ambitions into small, manageable steps; create a plan for up-skilling the business to turn raw talent into the stars of the future; think creatively about how to train staff; consult employees when planning a learning and development strategy; and make sure they share their vision of the company’s future with the workforce.
INSIDE Boosting skill levels A HUDDERSFIELD woman is helping UK bosses boost their management skills. Business education expert Narinder Uppal has been appointed head of the awarding body at the Chartered Management Institute. She will be in charge of promoting CMI management and leadership qualifications and developing links.
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Fashion statement AN online boutique has made a smart move. Cleckheaton-based Business Wardrobe, which provides designer office wear for women, has seen a huge rise in web traffic since forming a link-up with fashion label Betty Jackson.
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KIRKLEES BUSINESS NEWS
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HSBC earnings fuel furore over lending BANKING giant HSBC said it more than doubled half-year profits to £7bn in the first six months of this year. The bigger-than-expected surplus came amid mounting political furore over a perceived failure by banks to lend to businesses. However, HSBC claimed it had lent more to Britain’s small firms since the start of the year. The pressure on banks to show they are freeing up credit is unlikely to ease as HSBC’s performance meant UK players are on course to report a combined half-year profits haul in excess of £10bn this week. HSBC generates a large slice of its profits from emerging markets. The bank said the UK side of the business lifted underlying profits by 23% to £593m. The global results were helped by a sharp fall in bad debts, which dropped to their
lowest level since the financial crisis, according to HSBC. The leap in profits came despite a drop in trading revenues at its investment banking division, which was hit by “exceptional” stock market volatility in the second quarter of the year. HSBC’s figures follow a warning from Chancellor George Osborne at the weekend that banks had an “economic obligation” to lend to businesses. Business Secretary Vince Cable has called for dividends and bonuses to be targeted in a “carrot and stick” approach to boost lending to cash-strapped small firms. HSBC risked stoking anger further by revealing a 39% hike in staff pay and bonuses at its Global Banking and Markets division to £1.6bn since the end of 2009.
It set aside total pay and benefits of £6.2bn across the group – up 7% on a year earlier. Michael Geoghegan, HSBC group chief executive, said the bank was braced for “intense public and political scrutiny”. He said the banking sector and regulators had a “responsibility” to take the next steps to free up the flow of credit and support the wider economy. Lending was up 4% across all regions since the end of last year and HSBC said demand for credit among businesses had increased, despite recent suggestions from the sector that there is a lack of appetite for borrowing. Gross new lending to small businesses rose by 38% to £1.4bn in the half-year. HSBC’s performance helped the FTSE 100 close up 139.09 at 5397.11.
■ STATEMENT: A big fall in bad debt helped HSBC
Camelot courts lottery regulator
Arena profits race ahead
NATIONAL Lottery operator Camelot stepped up its efforts to appease regulators over plans to offer extra commercial services through its terminals. The group outlined a raft of measures it hopes will reverse the National Lottery Commission’s initial decision to block proposals that would see it provide mobile phone top-ups and electronic bill payment services. Camelot said the NLC had agreed to consult on the remedies put forward – which include publishing separate accounts for the new business and employing a competition law officer to police the service.
THE UK’s biggest horseracing operator revealed a rise in half-year earnings after seeing signs of recovery in corporate hospitality spending. Arena Leisure, which owns racing venues Wolverhampton, Worcester, Windsor, Doncaster, Lingfield Park, Southwell and Folkestone, said average attendance was up by 3% to 1,498 as underlying profits for the six months to June 30 rose by 25% to £ 2 m . H o s p i t a l i t y at t e n d a n c e increased by 13%. The group expects to stage 353 fixtures this year – accounting for about 25% of all UK racing – but the size of next year’s schedule is still
The NLC has now extended its review to September 17, but Camelot claimed each month of delay was costing about half a million pounds of lost donations to good causes. The NLC, which has been reviewing Camelot’s proposals since February, announced a provisional decision last month to refuse the plans on the grounds it could breach European or competition laws. It said the risks to competition outweighed the “relatively small” returns – pointing out that Camelot’s lottery business generates about £1.6bn a year for good causes, while the proposed additional services were estimated to raise £5m a year.
uncertain due to the impact of a sharp fall in the horseracing betting levy. The sport is funded by a levy on bookmakers’ profits, but the figure is set to drop to about £70m from the £94.5m expected in this year. The amount received by Arena racecourses from the levy during the half-year period fell by more than £1m to £10.6m with most of the shortfall affecting prize money. Arena said 88 fixtures leased from the British Horseracing Authority were most at risk from the funding shortfall, although most make a positive contribution to the levy and should survive.
Retail therapy SHOPPING centre owner Hammersons said its markets continued to recover from the recession after lower vacancy levels and rising income helped lift half-year profits by 7%. The owner of the Brent Cross and Bullring retail centres said adjusted profits improved to £70.2m in the six months to June 30. Occupancy rates improved to 96% at the end of June 30 while like-for-like rental income rose by 5%. Demand for office space in central London also reached a three-year high during the first quarter as financial organisations took advantage of lower rents and incentive packages. Hammerson said it had a “substantial” pipeline of potential future developments in readiness for when market conditions improve.
All-round success TYRE fitting franchise HiQ reported a 7%-plus rise in annual turnover and double-digit growth for gross profits. HiQ also reported an 8% rise in customers for its 145 centres, which include Huddersfield and Dewsbury. Retail director Juergen Titz called the results “a welcome boost for all associated with HiQ”.
SHARE PRICES NORTH AMERICAN American Express £28.34 +0.29 Gannett 862.93 +34.57 Hess Corp £34.98 +1.30 Microsoft 1646.03 +23.88 Motors Liquidation 47.14 Wal-Mart Stores £32.15 -0.03 AEROSPACE & DEFENCE 1 Avon Rbbr 113 /2 +1 BAE Systems 3187/8 +61/2 Rolls-Royce Gp 5861/2 +61/2 AIM Brady Plc 67 -1/2 Dawson Intl 21/4 Man Brnze 40 AUTOMOBILES & PARTS GKN 1365/8 +11/2 BANKS Barclays 344 +111/8 HSBC 680 +34 1 Lloyds Banking Gp 72 /2 +31/8 1 Ryl Scotland 52 /8 +21/8 Stan Chart 18611/2 +191/2 BEVERAGES Diageo 1127 +20 SABMiller 1977 +43 CHEMICALS Croda 1344 +53 Elementis 98 801/2 +3 Johnsn Mat 1740 +49 CONSTRUCTION & MATERIALS Balfour Beatty 2565/8 +71/2 Costain 197 +31/2 ELECTRICITY Drax Grp 3863/4 +23/4 Intl Power 366 +8
Scottish & Sthrn 1129 +21 Energy ELECTRONIC & ELECTRICAL EQUIPMENT Chloride 3731/4 +1/8 Laird 1247/8 +21/4 EQUITY INVESTMENT INSTRUMENTS Alliance Trust 3221/4 +55/8 FIXED LINE TELECOM SERVICES BT Grp 1421/2 +1/4 Cable & Wireless 60 +3/4 Comm Cable & Wireless 68 +11/4 Wwide Colt Group 1253/8 -31/2 KCOM 49 +1/4 1 Talktalk Telecom 121 /4 -11/4 FOOD & DRUG RETAILERS Morrison W 2711/4 +61/4 Sainsbury 3483/4 +51/4 5 Tesco 398 /8 +8 FOOD PRODUCERS AB Food 1040 +13 Nth Foods 423/4 -1 Tate Lyle 450 +5/8 Unilever 1815 +4 Uniq 10 -1/2 GAS, WATER & MULTIUTILITIES Centrica 3097/8 +6 National Grid 524 +141/2 Pennon Grp 600 +10 Severn 1344 +34 +51/2 United Utils 5901/2 GENERAL FINANCIAL 3i Group 2857/8 +13/4 ICAP 4141/8 +131/8 London StockExch 6631/2 +161/2 Man Group 2231/4 +6
Provident Financial 827 +201/2 Schroders 1334 +46 Schroders NV 1105 +38 GENERAL INDUSTRIALS Cooksn Grp 467 +23 REXAM 311 +2 Smiths Grp 1139 +23 GENERAL RETAILERS Ashley L 13 Carphone Whse 2301/2 +1/2 DSG International 271/2 +5/8 3 Home Retail 243 /4 +43/4 3 Inchcape 308 /4 +10 Kingfisher 2213/4 +61/2 M&S 3591/4 +143/4 Mothercare 530 +8 Next £22 +1/2 WH Smith 4283/4 +41/8 HEALTH CARE EQUIPMENT & SERVICES Smith Nph 5661/2 +12 HOUSEHOLD GOODS Aga Rangemaster 93 +5 +5 Barrat Dev 1011/4 1 Persimmon 375 /4 +221/8 Reckitt Benckiser £317/8 +5/8 Taylor Wimpey 281/2 +2 INDUSTRIAL ENGINEERING Charter 7281/2 +61/2 IMI 736 +221/2 INDUSTRIAL METALS Ferrexpo 2953/4 +19 INDUSTRIAL TRANSPORTATION BBA Aviation 2041/8 +81/8 Forth Ports 1289 +17 LIFE INSURANCE Aviva 3727/8 +151/2
911/4 +13/4 1251/8 +41/4 5661/2 +12 2431/4 +47/8 1 209 /4 +7 MEDIA BSkyB 714 +3 Chrysalis 101 +1 D Mail Tst 4991/8 +14 ITV 531/2 +17/8 Johnston Press 191/2 -1/2 Pearson 1009 +191/2 Reed Elsevier 5551/2 +31/2 STV Group 871/4 1 Trinity Mirror 104 /2 -2 Utd Business 571 +201/2 UTV 1211/2 -1 WPP 695 +171/2 Yell Group 24 MINING Anglo American £261/4 +1 Antofagasta 1037 +49 BHP Billiton £203/8 +7/8 Eurasian Natural 940 +331/2 Res Fresnillo 1058 +27 Kazakhmys 1278 +62 Lonmin 1632 +62 Rio Tinto £341/2 +11/2 VEDANTA £255/8 +11/4 RESOURCES Xstrata 1075 +591/2 MOBILE TELECOM SERVICES Inmarsat 7551/2 +181/2 Vodafone Group 1507/8 +21/8 NONLIFE INSURANCE Admiral Grp 1513 +65 RSA Insurance Gp 130 +23/8 Lgl & Gen Old Mutual Prudential Resolution Standard Life
Local shares Carclo Chapelthorpe Marshalls National Grid Weir Gp
152 253/4 90 524 1226
-1
+141/2 +53
FTSE closed at
5397.1 Up 139.0 BG 1050 +281/2 BP 4131/8 +71/8 Cairn Energy 482 +151/4 1 Royal Dutch Shell A 1820 /2 +66 Royal Dutch Shell B 17501/2 +71 Total £33 +1 Tullow Oil 1300 +69 OIL EQUIPMENT & SERVICES AMEC 901 +28 Petrofac 1328 +78 Wood Group 380 +221/4 PERSONAL GOODS Burberry 8591/2 +18 PHARMACEUTICALS & BIOTECHNOLOGY Astrazeneca £325/8 +1/4 Axis-Shield 2653/4 -1/2 GlaxoSmithK XD 13
REAL ESTATE Brit Land 4711/2 Captl Shop Cent 3473/8 DTZ Hldgs 58 Hamrsn 3983/4 Land Secs 627 SEGRO 2845/8 SOFTWARE ETC SERVICES Autonomy Corp 1660 Dimension Data 1217/8 Invensys 274 Logica 1093/4 Misys 2571/4 Sage Group 2421/2 SUPPORT SERVICES Bunzl 693 Capita 7321/2 Davis Service 3881/4 Group De La Rue 738 Electrocomp 228 Experian 637 G4S 264 Hays 935/8 Homeserve 4503/4 Menzies J 414 Rentokil 1061/4 Smiths News 1091/4 Wolseley 1462 IT HARDWARE ARM Hldgs 332 Psion 80 Spirent Comms 128 TOBACCO Br Am Tob £217/8 Imperial Tobacco 1807 LEISURE & HOTELS Arriva 7721/2
+93/4 +47/8 +1/4 +101/4 +141/2 +45/8 +15 -11/8 +7 +13/8 +51/4 +35/8 +3 +131/2 +141/4 +41/2 +3 +91/2 +53/8 +33/8 +151/4 +1 +37/8 -21/4 +24 +33/4 +21/2 +1/8
+3 +21/2
Brit Airways Carnival Compass Grp easyJet Enterprise Inns FirstGroup Go-Ahead Greene King Intercontl Htls Ladbrokes Mitchells & Butlers Natl Express PartyGaming Rank Org Stagecoach Group TUI Travel Whitbread
2307/8 £233/8 5481/2 4071/4 105 3753/8 1146 451 1121 1403/4 3171/2 2363/4 3091/2 1181/4 1731/2 2151/2 1450
+111/4 +3/8 +181/2 +73/8 +23/8 +71/2 +30 +8 +18 +51/4 +55/8 +31/4 +91/2 -3/4 +51/4 +51/4 +42
FTSE 100
INDEX 5397.11
+139.09
FTSE 250
INDEX 10161.17
+212.45
TOURIST RATES Tourists going abroad can expect the following rates for sterling: Australia...................... 1.64 dollars Bangladesh................. 102.95 taka Brazil.............................. 2.46 reals Canada....................... 1.54 dollars China ............................. 9.52 yuan Czech Republic ...... 27.37 korunas Denmark....................... 8.53 krone Euro............................... 1.15 euro Hong Kong................ 11.59 dollars Hungary................... 304.88 forints India.......................... 64.11 rupees Japan........................... 129.74 yen Mexico ....................... 17.64 pesos New Zealand .............. 2.01 dollars Norway ......................... 9.06 krone Pakistan.................. 126.99 rupees Philippines ................. 61.05 pesos South Africa................. 10.66 rand South Korea.............. 1607.00 won Sri Lanka ................ 166.99 rupees Sweden....................... 10.79 krona Switzerland.................. 1.56 francs Taiwan ...................... 43.70 dollars Turkey....................... 2.23 new lira USA ............................ 1.50 dollars
KIRKLEES BUSINESS NEWS KEEN cyclist Martin Thompson is steering a path through the West Yorkshire property jungle. Martin, 39, a commercial property partner at law firm Armitage Sykes, likes nothing better than mountain biking around the local countryside. But he wouldn’t change a thing when it comes to the course his career is taking. Martin first got to know the partners and staff at Armitage Sykes when he spent a period on work experience at its New North Road offices in 1994. Shortly afterwards, he applied for a position as trainee solicitor with the firm. After joining as a trainee in 1995, he completed his two years of training and qualified as a solicitor. He worked in the general company commercial department for a year or two before the opportunity arose when one of the partners retired to move into the commercial property department in 1999. Says Martin: “I deal with general commercial property matters such as landlord and tenant issues, not sure it would be the same and we have an excellent acquisitions and disposals, experience in Leeds, reputation for retaining but I specialise in acting for Sheffield or Manchester. clients. property developers – “The size of the business “We undertake detailed acquiring sites, dealing with community in Huddersfield client satisfaction surveys on local authorities and the wider area means it a regular basis and the documentation and utility is possible to build close outcome is that 98% of our claims, plotting off the site relationships with other clients would recommend us to create new plot title professionals in the town. to other people needing our deeds and dealing with “I also think it means you services. We have a loyal main contractors and can provide a more rounded client base and a lot of our architects.” service to your clients. You Martin says the economic work comes through find with the bigger firms that recommendation.” climate remains uncertain Martin traces his interest in they are ‘over-specialised’. I for the property sector, have been in negotiations the law to the efforts of one although there are tentative where I’m facing three or four teacher. signs of recovery. specialist lawyers “I did law at A-level at “Although the recession is representing a single client. Wakefield College,” he technically over, it is very “Huddersfield people want recalls. “We had this fantastic difficult still for property a rounded, complete service lecturer – one of those developers,” he says. “A and they want to talk to one exceptional types who just number of the main banks person who knows drew you into the subject and are virtually closed to everything about their case.” property development work. made it fascinating in a way Armitage Sykes, one of that another lecturer would They have their eyes on Huddersfield’s be unable to do. continued volatility and long-established law firms, “Once I got into law, restrictions in the residential deals mainly with company property law was where I mortgage market. and commercial work – such wanted to be working. I have “They see commercial as commercial property, always had an interest in property development as business acquisitions and property. If I wasn’t involved high-risk at a time when disposals and share in property law I would be they are continuing to focus transactions. involved in property in some on building up their The firm, employing 65 other capacity.” reserves. people, also deals with Martin, who grew up in “Some cash-rich buyers have been able to get some Netherton, Wakefield, gained issues such as probate, wills and trusts, advice on a law degree at Leicester incredible bargains, but the inheritance tax, residential University and completed his downside of that is that conveyancing, litigation, Law Society finals at Leeds some sellers have been hit dispute resolution, personal particularly hard where they Metropolitan University. injury, family and “Wakefield and cannot wait for the market to matrimonial, debt collection Huddersfield is my locality,” recover.” Martin stressed: “There is he says. “I enjoy working in a and employment law. Says Martin: “The name community of this size. I am pent-up demand, which will come forth once money markets ‘free up’ – but it is difficult at this point to see when that will happen. It may be another 18 months to two years.” Armitage Sykes conducts a lot of its commercial property work in Kirklees, although the department also works in Calderdale – through its Brighouse office – and in Wakefield and Leeds. “We also have clients who have moved out of the area, but still want us to represent them,” says Martin. “We ■ ON LOCATION: Martin Thompson, of law firm Armitage have developed strong Sykes, couldn’t be happier with his choice of career
profile
Page 3 Martin Thompson
Martin steers steady course Armitage Sykes is well-recognised in the town and the firm has been around a long time. “A lot of firms put too much emphasis on marketing and getting people through the door at the expense of personal service. “That’s not a business model to which we subscribe. People don’t want the ‘call centre’ treatment – they want to speak to the person dealing with their case. The vast majority of our work comes through recommendation – and there is a reason why people recommend us.” Armitage Sykes is a supporter of Kirkwood Hospice, Overgate Hospice and the Laura Crane Trust. “We sponsor various events,” says Martin, “I try to take part in fund-raising events when I can. I was in a team competing in the Kirkwood Hospice It’s A
Knockout a little while back, which was great fun. “At one point, I did a cycle ride from John O’Groats to Land’s End when the hospice was fundraising for its new annexe about 10 years ago. “That’s something I’d like to do again. I’m not ready for it now, but I might try Land’s End to John O’Groats at some stage – or an equally challenging bike ride, perhaps somewhere hotter! “I do like cycling. I am part of a group of mountain bikers who go out every Tuesday night and most weekends. “It started as an informal thing, but it is a commitment now – even if we do end up in the pub for a couple of pints and some pork scratchings to undo all our good work!”
HENRYK ZIENTEK
Role: Partner in the commercial property department Age: 39 Family: Married to Sara with daughters Eva, nine, and Nell, six Holidays: Cornwall, the Canaries and the Caribbean Car: Land Rover Defender First job: Shop assistant in a farm tools shop Best thing about job: The variety of property work and building close relationships with other professionals Worst thing about job: The problem creating a balance between the amount of paperwork and being immediately available for your clients Business tip: Prioritise, plan, execute!
Armitage Sykes Work: Legal services Sites: Huddersfield and Brighouse Employees: 65 Phone: 01484 538121 Email: martin thompson@armitage sykes.co.uk Web: www.armitage sykes.co.uk
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KIRKLEES BUSIN
Making Britain a qualified success
BRITISH bosses need to boost their management skills, says a Huddersfield woman. Business education expert Narinder Uppal has called for more senior and middle managers to go for professional management qualifications. Narinder, who hails from Fenay Bridge, made the plea on her appointment as head of the awarding body at the Chartered Management Institute. Narinder joined the CMI in March last year to build up a business leaders’ network promoting best practice for managers. Now she will be responsible for promoting the CMI’s management and leadership qualifications and developing its links with its network of approved centres – colleges, universities and private providers – offering CMI qualifications to more than 34,000 middle and senior level managers each year. Said Narinder: “In a climate where managers and leaders are often the first to be blamed, it is imperative that they take steps to develop the skills which other criticise them for lacking.” But she added: “Developing management capability isn’t just the domain of the employer. It should be everyone’s business. The opportunity to drive home this realisation and make a differ-
Forward planning THREE directors at regional development agency Yorkshire Forward have been confirmed in their posts. Mark Lovell, Clr Mark Kirk and Linda Pollard will serve on the board of the Leeds-based agency from December 14 and will help steer its multi-million pound programme of work throughout 2010 and 2011 until the agency closes to make way for a new regional support framework. Linda Pollard is deputy chairman of Yorkshire Forward and takes a lead role in skills, tourism and key account management. Mark Lovell is executive chairman of A4e Ltd. Clr Mark Kirk is leader of North Lincolnshire Council.
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■ PROMOTION: Narinder Uppal is urging more middle and senior managers to gain professional qualifications
ence to the quality of UK management is something I cannot wait to begin.” Narinder said the case for managers seeking professional qualifications was stronger than ever – forecasts suggested the number of managers in UK organisations will rise by 900,000
between now and 2017. Employers also needed to get their management teams qualified as a way of improving retention rates – against a backdrop where four in 10 people leave their jobs because they are not given the training they were promised. Narinder said individuals should take more responsibility for their own skills development to improve their employment prospects. Evidence suggested that a professional qualification makes someone 9% more employable. Narinder has almost 20 years experience in the business education sector. She began her career in the sector as a programme leader for Huddersfield training provider S&S Training before becoming assistant head of faculty at Calderdale College’s business and professional department. Later, as interim director of international development at the London School of Business and Finance, she helped increase revenue by more than £1m in little over a year. She also spent five years as head of education networks at the Chartered Institute of Marketing, where her shake-up of its accredited study centre network resulted in it generating 40% of total organisational revenue.
Gift Aid well worth it ITH planned public sector expenditure W cutbacks set to commence, there is concern for many charities over their
source of funding and they may have to depend further on the generosity of the British public in order to carry on their valuable work. For many individuals, significant tax relief is available as an added reward. Since April, 2000, all donations to charities are made under the Gift Aid scheme, where donations are deemed to have had basic rate tax relief deducted by the donor. The charity will receive not just the amount of donation but the tax deemed to be withheld. For individuals who are liable to basic rate tax, broadly those with gross income of up to £43,875, there will be no further tax relief due on the Gift Aid donations made. But higher rate taxpayers will be able to obtain a tax refund on their donations equivalent to 25% of the amount paid. (Pay £80 and the charity get back £20 and you get a refund of £20). With the introduction of the additional 50% tax rate, from April 6, 2010, those with taxable income in excess of £150,000 will be able to claim even more tax back on any Gift Aid donations made. For those with income over £100,000 the personal allowance will taper away and an individual with an income above £112,950 will receive no personal allowance at all. Individuals with income falling in this range who make a Gift Aid donation, or a personal pension contribution for that matter, will obtain a tax refund equivalent to 50% of the net payment.
TAX TALK Colin Barratt
(Pay £80 and you get back £40, the charity gets £20; or a pension contribution of £80 and get back, £40 tax back and the pension fund gets £80 plus £20 tax refund). However, for individuals who make Gift Aid donations but pay no tax then beware as HMRC will seek to recover from them the basic rate of tax that is deemed to have been paid on donations. Philanthropy can come at a price! Tax relief on Gift Aid donations is usually allowed in the year of payment. However, an election can be made, normally through the Self Assessment Tax Return, to carry back a later year’s donation to the previous tax year. The availability of this election allows an individual to obtain higher rate tax relief in the earlier year if they know they will only be liable to tax at a lower rate in the later year. But there is a deadline for making this election. For 2009-10, the election needs to be made before or at the same time as 2009-10 return is prepared and no later than January 31, 2011, otherwise 2010-11 donation cannot be carried back. For married couples suffering different rates of tax, it would be sensible for Gift Aid donations to charities to be made by the spouse who is the highest rate taxpayer as they are able to obtain the optimum relief for these payments.
Colin Barratt is tax partner at Wheawill and Sudworth chartered accountants, Huddersfield
■ ADVICE: Gareth Dando, of Ramsdens Solicitors
Flexible way to beat ‘sickies’ EMPLOYERS should introduce flexible working policies to counter the problem of workers throwing “sickies”, says an employment lawyer. Gareth Dando, head of employment at Ramsdens Solicitors in Huddersfield, said figures from Aon Consulting showed that one in five UK workers feigned an illness last time they took a day off work as sick leave – costing the economy billions of pounds in lost production, benefits and healthcare. The soaring absence rate in Britain is equivalent to every worker taking at least one day off, yet only 52% of Brits take a sick day for genuine health reasons, according to the Aon survey. Some of those phoning in sick were doing so because they felt an honest request for time off to care for children and loved ones would be met with refusal. Mr Dando said employers were well advised to tackle the issues of sickness and workplace absence – before they seriously damaged efficiency and hit their balance sheets. Many workers would not feel forced to take a day as sick leave if they could just be honest and have access to flexible working hours or ‘social days’. By giving workers the option to undertake flexible working patterns, employers could ease workplace tensions, improve staff confidence and increase productivity. Among the Aon survey’s findings, 15% of people said that more interesting work would keep them in the office. And while 11% of people said the threat of redundancy would persuade them to cut down the number of days off for non-medical reasons, almost a quarter said a cash incentive on top of their salary would also encourage them to come in to work.”
NESS NEWS
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Sign of the times at busy company A COMPANY supplying signs for hospitals and clinics is focusing on further expansion after a move to bigger premises. Visual Systems and Signs, led by husband and wife Chris and Helen Hunter, has moved from 4,000sq ft premises in Denby Dale – its home for more than 20 years – to occupy a new 6,000sq ft unit at Station Road Technology Park, Skelmanthorpe. The move this summer has enabled the firm to increase workshop capacity by 50% and sales office space by 40%. The extra space meant the firm could buy new digital sign-making equipment and laminators as well as new graphic department computers. Mr Hunter said: “Investment in new equipment will enable us to m a nu f a c t u re m o re p ro d u c t s in-house as opposed to out-sourcing and provide the ability to supply a new range of products. “Following the move, we are just about to offer our apprentice a full-time position, increase the hours of one of our part-time employees and start the recruitment process for a full-time sales member of staff. “We currently employ eight people, all of them living local to the business. The idea is to increase this figure to 10 by January, 2011.” The Hunters acquired the business through a management buy-out in 2003. Mr Hunter had
■ GOOD SIGNS: Chris and Helen Hunter are setting their sights on new markets for Visual Systems and Signs following a move to new premises at Skelmanthorpe
worked for the previous owners for nine years and progressed from trainee salesman to general manager. Following the buy-out, the new owners changed the focus of the business towards the healthcare market. During their first two years in charge, the company achieved its best-ever performance since its formation in 1981. Now the company makes signs
and visual display systems ranging from patient chart holders located on the front of a patients’ bed to bed location boards that monitor patient arrival and discharge. The company deals with both the NHS and the private healthcare sector nationally and has also shipped its products to hospitals in Costa Rica and Germany. Said Mr Hunter: “The culmination of all our hard work resulted in
forming a working relationship with the NHS Institute of Innovation and Improvement who saw our products as ‘cutting edge’ for helping them implement and achieve the concept of a ‘productive ward’. “In essence, a productive ward is a well-run and efficiently organised hospital ward, where – through the use of our visual boards – staff are able to speed up patient discharge, thus creating bed space and saving them thousands of pounds a year.” Visual Systems and Signs won a regional business award in January last year on the back of achieving its most successful year ever. Mr Hunter said that spurred the company onto bigger and better things – including a full re-brand courtesy of Huddersfield-based branding agency The Engine Room. The firm is also planning to exhibit at the Kirklees Business Conference in September as part of efforts to raise its profile locally. Said Mr Hunter: “Our market research had shown that our customers perception of us was ‘small business, homemade design’. This was costing us money. “As a result of the re-brand, we have been able to create an identity that sits well with everyone ranging from directors of nursing services to matrons and ward managers. Consequently we have seen an increase in sales and profitability.”
Training assignment completed A CONSULTANCY specialising in human resources has completed a four-month project to promote apprenticeships. Shepley-based JCS HR was commissioned by Local Government Yorkshire & Humber to encourage councils to take on more apprentices. JCS director Julie Sykes said: “LGYH approached me as they needed help to put together a toolkit which would encourage and support local councils in making greater use of apprenticeships. “Having worked with LGYH previously, I was more than happy to get involved. “It’s great to receive feedback on how some of the authorities are proposing to use the materials we have produced.” Amanda Glew, apprenticeship manager for LGYH, said: “Julie’s input into this project has been invaluable and we are incredibly proud of what we have produced. “The feedback we have received already from the local authorities is very encouraging.” JCS has worked with LGYH on a number of projects, including research into redeployment practices and preparation of job descriptions.
Keep up to date with insurance matters USINESSES may be putting B themselves at risk of facing huge costs by not insuring
their properties to the full reinstatement value, according to a survey by a leading insurer. The survey found that more than 77% of properties were under-insured with an average increase to sum insured required of about 55%. This degree of under-insurance could be devastating to a business in the event of a major claim such as a fire. If the sum insured is too low then an insurance policy may not provide enough money to rebuild the property. This could leave a business in a critical condition especially given the current economic climate. The recession has led to significant reductions in the market value of buildings. This has led to some property
Often valuations are undertaken for bank or sale purposes and these may not accurately reflect the total cost of rebuilding a property. Some insurers have agreements in place with valuation suppliers to offer discounted rates for their customers meaning they could provide A professional valuation carried a good first point of contact for out on a property will ensure it is businesses looking to properly value valued for the correct amount. their property.
RISKY BUSINESS Mark Dalton
owners questioning whether there has been a similar reduction in reinstatement values and whether building sums insured should be similarly reduced. However, while property owners may be looking for savings in these troubled times, it is important that this is not at the expense of insurance cover. They should consider a valuation immediately as they may not have sufficient reserves to deal with the consequences of under-insurance.
For further information about how to ensure your buildings are adequately insured or for further information on this topic please contact us now on 01422 358 525 or email info@wilbyltd.co.uk
Mark Dalton is associate director at Wilby Ltd
KIRKLEES BUSINESS NEWS Investment market gains momentum INVESTMENT in the UK commercial property investment market has risen to a two-year high, according to latest figures. National commercial property consultancy Lambert Smith Hampton reported 15 deals worth more than £100m during the second quarter of the year, accounting for £3bn of the total. Overseas investors replaced UK institutions as the most active investors in UK commercial property, accounting for nine of the top 20 positions in LSH’s most active buyers index. The largest transaction during the quarter was the £580m purchase of the Knightsbridge Estate by Saudi Arabian investor Olayan Group from Avestus Capital Partners – formerly Quinlan Private. However, investment activity across Yorkshire fell during the second quarter of 2010 to just over £200m, compared with the £233m achieved during the first quarter of the year. While the number of individual transactions rose, the average deal price dropped by almost 25% to just under £10m. The retail and leisure sector accounted for 54% of total activity in the region – although that figure is swelled by one transaction, CIT Group’s acquisition of Princes Quay Shopping Centre in Hull, which was the region’s largest deal at £71m. Other key transactions included Hermes’ sale of BT’s Yorkshire headquarters on Sovereign Street in Leeds for £40.17m and Jersey-based Ediston Opportunity Fund’s acquisition of Cutlers Gate in Sheffield for £14.3m. LSH said it had also seen a small recovery in the lending market. Ezra Nahome, chief executive of LSH, said: “The market has become more broadly based in recent months with renewed buying activity from several sources that have been out of the market for some time. “The greater variation of buyers must bode well for the coming months, in what we believe will be a more challenging market.” Mr Nahome said that after a period of increased activity at the start of 2010, which had resulted in a swift adjustment in values, the market was expected to go through a period of consolidation as it found its new level. He said: “The market needs to pause for breath, to allow investors to become comfortable with the new yield regime.” To date, yield improvement had been focused on prime assets, with secondary property values in some cases still languishing at levels set near the bottom of the market. This was likely to remain the case until investors became more confident about the underlying strength of the economy. This may take some time to be established and fears of dipping back into recession did nothing to help investor sentiment. Said Mr Nahome: “The austerity package instigated by the new government has made investors unsure about the prospects for the recovery in the economy. “The early signs from the equity market showed nervousness, but property remains an attractive asset class and – with running yields of almost 6.5% – compares favourably with the return investors can achieve by investing their cash in the equity or bond markets. “The market may have come a long way in a short period of time, but this has arguably been too much too soon and further improvement will be harder to achieve for the remainder of the year.”
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Plea to protect training budgets
■ TRAINING RUN: Steve Housden, Yorkshire and Humber regional strategy adviser for CITB-ConstructionSkills
THE building industry must continue to invest in training – regardless of the impact of public sector cuts on construction activity. Steve Housden, Yorkshire region strategy adviser for sectors skills council CITB-ConstructionSkills, said construction was crucial to the success of the UK economy. However, construction output had fallen by 13% during the recession and while output nationally would average at 1.7% growth this year, Yorkshire would be slightly weaker at 1.6%. Said Mr Housden: “Given this background, it is all the more important to secure and maintain the right level of skills and investment in training, so that the industry has the necessary human capital to make a positive contribution to the region’s infrastructure – a pre-requisite to economic recovery. “Many workers have suffered at the hands of the downturn, being laid off or leaving the industry for good, which in an upturn leaves the region exposed to skills shortages. “To prevent this skills shortfall we need to ensure that we have a sufficient pool of talent to meet the
future demands.” Mr Housden said: “Apprentices are the lifeblood of the construction industry and a vibrant apprenticeships programme, supported by government, is the best way to ensure that Yorkshire and Humber avoids any future skills ‘time bomb’. “As well as benefits for local firms and the wider industry, apprenticeships are also vital in helping to create opportunities for young people in their own communities. “Only by keeping those opportunities local to our region can we ensure that we help a generation of young people who are not employed or in education and training to find work on their doorstep.” Mr Housden said the coalition government had set a target of £6.25bn of savings this financial year and cuts to be made in several areas would affect the construction sector. But he said: “The government does put skills and training high on its list of priorities – investment in training, as well as a continued focus on retaining and re-skilling current employees, particularly to meet the green agenda.”
Company builds reputation for safety A HOUSEBUILDER with a development in Kirklees has won a top safety award. McIner ney Homes, which built the Heritage development at Mirfield, has won a gold award in the Royal Society for the Prevention of Accidents Occupational Health & Safety Awards 2010. T h e R o S PA A w a r d s scheme aims to cut the number of accidents and cases of ill-health at work and encourage organisations to develop robust health and safety management systems. McInerney collected its award during a presentation ceremony in Birmingham during Safety & Health E x p o 2 0 1 0 , E u r o p e ’s premier health and safety at work exhibition. The company was
judged on its accident records and on strict standards of management and health and safety performance. Lee Mills, UK health and safety director for McInerney Group, said: “We’re absolutely delighted to have secured a gold award from RoSPA. “ We ’ve d eve l o p e d a bespoke management system for McInerney’s business and our expert team delivers health, safety and e nv i r o n m e n t s t r a t e g y across the group. “It’s fantastic to have our hard work recognised with such an influential award and to be honoured with gold as a leader in our field. The work will continue as we hone our health, safety and environment systems and build on this year’s success.”
■ SAFE HANDS: Lee Mills (right), UK health and safety director for McInerney Group, receives the gold award on behalf of McInerney Homes from RoSPA trustee Ian Walker
House prices fall as supply rises A SHORTAGE of buyers sent house prices falling in July for the first time since February, according to figures from the Nationwide Building Society.
The latest survey by the mortgage lender said the average price of a UK property dropped by 0.5% to £169,347 between June and July. Nationwide said the fall came as the number of househunters numbers dwindled amid uncertainty over jobs and the wider economy as the Government ramped up its austerity drive.
The scrapping of home information packs also tempted more sellers on to the market, which has seen supply outstrip demand. July’s fall comes after growth stalled in June, although prices remain higher on a year-on-year basis. Nationwide said prices were 6.6% higher on an annual basis in July - lower than the 8.7% in June. James England, head of residential for estate agency Carter Jonas in Huddersfield, said: “Supply has improved considerably in the past month or two and while this will naturally place some downward pressure on
prices, we expect them to stay in this general range due to the extremely low base rate. “A degree of price stabilisation was inevitable after the strong growth seen in the second half of 2009.” Said Mr England: “We are beginning to see a divide in the market between the mid to higher end, where demand is still strong and property prices are staying firm, and the lower end, where confidence and the ability to arrange mortgage finance are certainly constraining factors. A two tier market is slowly beginning to form.”
KIRKLEES BUSINESS NEWS
property
Waitrose unveils local shops plan SUPERMARKET chain Waitrose is seeking sites for new stores in West Yorkshire – with Kirklees one of the districts being considered. The retailer is keen to roll out new stores – creating hundreds of jobs – in town and city centres as well as suburban areas across the area. Retail specialists at the Leeds office of property consultants King Sturge have been appointed to find and acquire suitable sites as part of Waitrose’s plans to open 30 new stores throughout the UK next year. The first new-format Waitrose convenience store opened in Cambridgeshire earlier this year, creating about 40 jobs. A further five have followed. Waitrose is seeking sites suitable for stores with a sales area of 3,000sq ft to 7,000sq ft or 4,00sq ft to 10,000sq ft gross in town and city centres, transport hubs and the suburbs. The team at King Sturge said it already had several sites under consideration. Jonathan Newns, head of the King Sturge in-town retail team, said: “Waitrose’s move into smaller stores demonstrates that convenience shopping is a growing market. “Today’s busy lifestyles mean
that customers want choice and access to food shopping on their doorstep. The convenience stores which open in the north will help to create easier access to a wider choice of quality products which is good news for shoppers.” Said Mr Newns: “From a property point of view, the smaller format stores should be easier to accommodate as they allow for greater flexibility in the size of retail unit and location and should
■ STORE STRATEGY: Jonathan Newns (left), partner with property agency King Sturge in Yorkshire, says Waitose is keen to expand its convenience store format in the region
encounter fewer potential planning hurdles.” Research based on shopping patterns at Waitrose’s existing convenience shops shows that customers use them to buy everything they need for the next 24 hours. The new stores in the north will focus on freshly-baked bread, sandwiches, salads, deli products and individually-wrapped cakes, quick meals, fresh meat and fish as well as
household items such as health and beauty goods, cleaning products, greetings cards and gift wrap, The Leeds office of King Sturge is one of the region’s largest independent firms of chartered surveyors and property consultants with 70 staff providing property agency and investment services throughout Yorkshire and Humber and North Derbyshire.
Revamped units set to boost supply of industrial property INDUSTRIAL units at Brighouse have been placed on the market following refurbishment work on the properties by its new owner. MB Services has completed partial extension and refurbishment at Caldervale Works to form a series of self-contained industrial units ranging in size from 2,857sq ft to 29,581sq ft. The units will each have secure yards and parking and a large steel roller shutter loading door. A spokesman for MB Services said: “We have and will continue to invest significantly in the refurbishment and extension of the existing building structure to provide a range of workshop units to satisfy local demand. “We have noted a particular shortage of smaller industrial units to let at the present time – particularly in the immediate Brighouse area – and we believe that following the economic downturn that the units we are creating at Caldervale Works will appeal to the market.” MB Services, based at Deighton, is one of the largest commercial property landlords in Kirklees with more than 500,000sq ft of industrial, retail and commercial properties. Paul Andrew, of Walker Singleton, who is joint marketing agent for the property, said: “Caldervale Works lends itself well to sub-division to form the smaller industrial units occupi-
■ SPACE FINDER: MB Services has completed work to extend and refurbish part of Caldervale Works at River Street, Brighouse, to form a series of self-contained industrial units
ers demand at the moment. “It occupies an excellent location on the edge of Brighouse town centre and benefits from easy
access to Junction 25 of the M62. “We anticipate that there will be a good level of interest from potential occupiers.”
Page 7 Property sale realises £5.2m STRONG demand for residential stock contributed to proceeds of more than £5.2m being generated at the latest Eddisons property auction. Some 79 lots out of 112 offered were sold at the two-day sale held in Leeds and Manchester – a 70% success rate. Eddisons said interest in the residential stock was in response to sensible pricing which had been set to reflect current market conditions. Tony Webber, of Eddisons, said: ‘With bank lending remaining difficult, we advised vendors to set prices at realistic levels. This encouraged multiple bidding for many of the lots which drove prices beyond their original guides. “It is clear that residential property remains the preferred long-term investment of choice for many people.” Highlights included a vacant former farm and outbuildings in Wakefield which was sold on behalf of Wakefield Council for £162,000 off a guide price of £100,000-plus. Old Park Farm on Welbeck Lane includes a farmhouse in need of renovation, a barn and derelict stables. A vacant doctor’s surgery in Batley was sold for £190,000. The former Undercliffe Surgery was offered with planning consent for conversion to two houses. It had been marketed previously at £275,000. A number of pubs across Yorkshire and Derbyshire offered by Punch Taverns were also snapped up by individual buyers at prices above their original guides. The next sale takes place on September 16 at Leeds United Football Club, Elland Road, Leeds, and on September 21 at The Fairways Lodge and Leisure Club, Prestwich, Manchester.
Housebuilder is UK’s best THE developer of a major housing scheme in Huddersfield has been named as the best housebuilder in the UK. CALA Homes, which built the Hexagon residential development at Birkby, came top in six of the eight categories in a national survey of people who bought new homes in 2009. The survey was undertaken by he Home Builders Federation. CALA topped the ranking on the two key measures of overall customer satisfaction and of customers prepared to recommend the company’s homes to a friend with scores of 95.6% and 97.2% respectively. CALA was also ranked best for completing homes on time (95%); the condition of the home on move-in day (94%); the standard of finish (95%) ; and post move-in service (88%). The company beating the average score on each occasion by more than 12%.
KIRKLEES BUSINESS NEWS
Julie Charlton
Movers and shakers
Setting a trend with teamwork
Horizon Signs A SIGN manufacturing firm has announced a new appointment. Horizon Signs, based at Milnsbridge, has appointed Julie Charlton as national accounts manager. The move follows a period of expansion which has seen the company invest in a new powder coating works and set up a sister company to focus on the education market. Ms Charlton, who is pictured (above) with director George Foster, joins the team with more than 10 years experience working in sales as an account manager for blue chip companies such as Wrigleys. She will work on key accounts at Horizon, overseeing the entire process from order through to completion.
Joanne Wiliamson
Lloyds TSB
■ SUITED: Jane Dawson, director of Business Wardrobe
A KIRKLEES-based online boutique has made a smart move. Cleckheaton-based Business Wardrobe, which provides designer office wear for women, has reported a massive rise in visits to its website after forming a partnership with Betty Jackson to stock its spring/summer range of tailored workwear. Since March, Business Wardrobe has been stocking items from the Betty Jackson Two collection. Jane Dawson, director of Business Wardrobe, said the relationship was proving very successful as both companies recognised the importance for women to look stylish in the workplace while not compromising on comfort or quality. Betty Jackson, launched in 1981, is a leading UK fashion brand offering a wide range of womenswear. It has also recently expanded into
Say cheese – twice over
LLOYDS TSB Corporate Markets has appointed Joanne Williamson as business development director for North and West Yorkshire. Ms Williamson (pictured) has more than 25 years’ banking experience, including 14 years working in the corporate banking arena. She is credited with playing a key role in the creation of Lloyds TSB’s corporate office in Leeds in 1996 and was part of the team delivering support and financial solutions to businesses across the city and the wider region for 12 years. Ms Williamson will work with area director Shaun Ellenthorpe and is joined by two new relationship support managers, Richard Howarth and Michelle Oates. Ms Oates joins from Lloyds TSB’s Manchester office, while Mr Howarth, already based in Leeds, joins from the bank’s business support team.
Philip Kelshaw
Flexitallic INDUSTRIAL sealings company Flexitallic Group has appointed Philip Kelshaw as managing director. Mr Kelshaw (pictured) spent more than 20 years in the chemical industry before moving to sealing technology in 2005 at Precision Polymer Engineering in Blackburn. He joined Flexitallic as sales and engineering director in 2007 and went on to focus on improving distributor networks and material supply chains. As part of the Cleckheaton company’s restructuring, former managing director David Mitchell becomes group corporate development director and Alex Lattimer has been promoted to commercial director with responsibilities for directing internal sales. Stuart Lumley has been appointed as operations director responsible for manufacturing and logistics.
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■ TWICE AS NICE: Chris Taylor (centre), of Eaton Smith, presents the award to Claire Holmes (second right) and Jemma Hammond (right), of Cryer & Stott Ltd, watched by (from left) Karen Borowski, of Revell Ward; Tracy Smith, of the Mid Yorkshire of Commerce; and Kate Dallas-Wood, of Business Link CHEESEMONGER Cryer & Stott has achieved an awards double. The West Yorkshire company has won the Business of the Month Award – run by Huddersfield law firm Eaton Smith in association with the Lockwood-based Mid Yorkshire Chamber of Commerce – for the second time after impressing judges with its latest expansion plans. The Castleford-based firm began as a partnership in May, 1998, and runs as a family business. It is a wholesale “consolidator” buying food from 40 to 50 local suppliers as well as producing its own range of cheeses. The company plans to expand its activities following the recent acquisition of premises at Allerton Bywater. The new facility will include a small café and will also sell cheese, meat, bread and fresh produce as well as preserves which will be made on the premises. Cryer & Stott have also won a
£120,000 contract to supply its “artisan cheeses” to several local football clubs, as well as supplying £20,000 worth of specialist cheeseboards to the St Ledger at Doncaster Racecourse and to York Racecourse. The company anticipates significant growth and is predicting that turnover will rise by £300,000 in the next 18 months. This growth will create a further nine full-time and five part-time positions. Richard Holmes, director of Cryer & Stott said: ''Winning the Eaton Smith Business of the Month Award means a great deal to us. It’s wonderful that our commitment to supporting local producers has brought us recognition. The award is open to all companies in Calderdale, Kirklees and Wakefield. For more details visit the website www.eatonsmith.co.uk or contact Ian Greenwood of Eaton Smith on 01484 821389
footwear and accessories. Although Betty Jackson ranges are sold nationwide in department stores, it is not yet widely available online – making Business Wardrobe a great outlet for the label. Said Jane: “We’re delighted with the success of the Betty Jackson Two collection. “Our customers love the brand. “It is quality women’s workwear at its best and we’ve seen a substantial rise in visits to the website since we started stocking Betty Jackson.” Gianluca Consoli, international sales manager for the Betty Jackson brand, said: “Our spring/summer collection shows that workwear doesn’t have to be dull. “With an injection of colour and great tailoring, women can look forward to dressing for work.”
There must be an angel A TOP award has winged its way over to a company in Huddersfield. Longwood-based accounting software provider Liquid Accounts was recognised at the British Business Angels Association Awards – when it scooped the category for Angel-VC Deal of the Year. The category was open to individual venture capitalists, business angel networks, groups and syndicates and individual investors who had successfully structured a deal including both VC and angel investment. Liquid Accounts raised £770,000 of investment funding in February by selling an 18% stake to a syndicate of prominent local business angels. A further 12% was match-funded by the Government’s flagship fund for women-led businesses, The Aspire Fund. That support was secured through marketing director Lisa Kendrick, one of the founders and owners of Liquid Accounts. She said: ““We’re delighted that our efforts and success have been recognised and we’re proud to win such a high-profile award. “The fact that we managed to raise such a substantial investment, especially in a recession, is testament to how much the business has grown since starting out five years ago.” The award was collected on behalf of the firm by Ken Cooper, of Capital for Enterprise. He said: “Liquid won because their recent investment was a great example of a strong syndicate of business angels working effectively with a more formal venture fund.” The main speaker at the awards presentation in Manchester was Julie Meyer, founder of Entrepreneur Country, chief executive officer of Ariadne Capital and panellist on BBC’s Dragon's Den Online. The BBAA is the only national trade association dedicated to promoting angel investing and supporting early stage investment in the UK.