Tuesday June 5 2018
INTERACTIVE TEACHING FOR THE CITY’S CHILDREN
CARE SERVICE LAUNCHED WITH QUALITY THE FOCUS
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The latest business news at hull-live.co.uk
Kath Lavery, chair of the Business Week
Business Week ‘most diverse yet’
The panel of industry experts who kicked off the Humber Business Week with a discussion at the KCOM Stadium
‘TIME FOR REGION TO MAKE ITS MARK’ EXPERTS SAY AREA NEEDS TO BE A POWERHOUSE PLAYER By Phil Winter philip.winter@reachplc.com
communications at ABP Humber, said there had been a sense that the region had been “left behind in the Northern Powerhouse agenda,” but now was the time to make its mark. He said: “We have heard a lot in recent times about having a collective voice. The next stage is to get recognition externally.
“We need recognition from leaders that the Humber is integral to the North of England – that is very important. “We are here, and we have a big message to say.” The Bondholders Breakfast launched with a series of powerful videos from business figures across the Humber, before heading out into the KCOM Stadium for a sofa discussion. Panellists included KCOM’s
Sean Royce, Young’s Seafood marketing director Yvonne Adam and Dr David Richards from the University of Hull. The Business Week launch event also celebrated a special supplement in The Times newspaper on Monday, which focused on the Humber region’s assets, growth and potential. ghghghghg ghghghgh Mr Royce, head of operations at
Continued on PAGE 2
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THE Humber region must gain recognition among business and political leaders as being “integral to the North of England” if it is to succeed and push forward. A panel of industry experts kicked off the Humber Business Week pitchside at the KCOM Stadium with a discussion ranging from Brexit and renewable energy to the current digital world. Dafydd Williams, head of
THE 14th annual Humber Business Week is now in full flow in celebration of the businesses, large and small, which are playing their part in driving the region forward. In support of the event, the Mail will be releasing a special edition supplement next Wednesday, bringing you all the action and news from the Business Week. This year’s Business Week is the most diverse yet. The continuing growth of the renewables, digital and technology sectors and emergence of the Humber as the Energy Estuary of the UK make Humber Business Week an event worth celebrating. Kath Lavery, chair of the Business Week, said: “We like to have a festival feel to the week. With more than 50 events on offer, there is something for everyone. “Whatever the size of your business – whether you are a single-handed entrepreneur or a big business – the advice you can pick up during the week you could not get anywhere else.”
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Business
‘Time for region to make its mark’ Continued from PAGE 1 KCOM Hull and East Yorkshire, said: “It is easy to forget how rich and deep a history of entrepreneurship we have got. “Some of the biggest brands in the world started right here in the region.” Dr David Richards, at Hull University, echoed Mr Royce’s words and said: “Businesses like RB and Smith & Nephew, which have become worldwide names, have kept their roots here in the Humber. “You forget these businesses have been here for a long time, and they are investing heavily to stay here. A big part of the development of the Humber is about businesses changing and investing back into the region.” Former Chancellor George Osborne, who is now chair of the Northern Powerhouse Partnership, has also had his say on the Humber region. He wrote: “Education, skills, connectivity, creating new industries – this is the Northern Powerhouse I envisaged when we created the concept. And Hull and the Humber must be at the heart of this Northern Powerhouse for it so succeed.” More than 50 events are taking place as part of the Humber Business Week. Dr Diana Taylor, of Marketing Humber, said: “In recent times, the Humber has seen unprecedented investment and economic development, with so much positive change and opportunity all around. “We are seeing a remarkable transformation in the region’s economic fortunes and prospects. Now really is our time.” Andy Parkinson, chair of Marketing Humber, rounded off the event. He said the future success of the Humber depended on having “one voice,” “big ideas,” and “momentum”.
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We are in for another good Sesh as popular street festival returns BUSINESSES BEING URGED TO GET BEHIND SPONSORSHIP OPPORTUNITIES By Phil Winter philip.winter@reachplc.com
ORGANISERS of the Humber Street Sesh have spoken of the positive impact getting involved in the festival can have on businesses across the city. Around 40,000 people are expected to flock to the Marina and Fruit Market area of Hull over the two days, and it is not just musicians and artists who can benefit from the event. Businesses are being urged to get on board with this year’s Sesh, on August 3 and 4, through a variety of sponsorship opportunities, and help raise their profile in Hull. Mark Page, festival director, said: “We’d like to keep the City of Culture momentum going and build on the success of last year. “We are excited about the expansion of the festival, which not only provides a wider platform for emerging musicians and artists, but provides a fruitful economy for local business and creates jobs and employment opportunities. “Sponsors play a crucial part in the city’s cultural legacy.” Humber Street Sesh will for the first time be held over two days when it returns in August. Up to 8,000 people are expected to attend on Friday night, when previous Sesh headliners and special guests come together on the new Humber Quays site. More than 30,000 people are then set to descend on Humber Street and the surrounding streets for the Saturday line-up.
Around 40,000 people are expected to flock to the Marina and Fruit Market area of Hull over the two days
There are a host of sponsorship opportunities available to businesses keen to showcase their skills to the region. They include stage naming rights and stage branding, along with posters, flyers, event guides, street banners and programmes distributed to 15,000 households, courtesy of the Mail. Sponsor’s interactive logos feature on the festival website and on the Sesh’s mobile app. All stage sponsors will receive a short promotional film highlighting their involvement and support, courtesy of Nova Studios Ltd.
Elise Witty, responsible for communications and sponsorship, said “The festival allows companies to reach a huge and diverse audience in a community event, providing a powerful environment for brand awareness and activation.” VIP wristbands will be available to sponsors, allowing access to two VIP suites on the Saturday with an allocation of complimentary wristbands. Hull2017 Bid Angels, which is once again supporting Stage@ theDock, said: “Hull Bid Angels recognises the potential for the arts and business working together to bring about cultural
regeneration in the city. Humber Street Sesh supports Hull and its people and business. “It is a vibrant, unique, culturally diverse event, which brings people together and provides a legacy in the city” The festival’s directors would like to thank the following businesses for their support for 2018: The University of Hull, Hull Bid Angels, Hull College, Princes Quay, HETA, Iguana Developments, Goodwin ENRG, Hull Cars and Nova Studios Ltd and Hull Daily Mail. For sponsorship opportunities, email Elise Witty, elise@humber streetsesh.co.uk
Brewery raises a glass to new branding and website A HOLDERNESS brewery is celebrating entering its second decade of business with a new branding and website. The Great Newsome Brewery has unveiled a new rural theme, with an English springer spaniel mascot called Jem taking the centre-stage. The brewery, which
brews award-winning bitter Frothingham Best, last year celebrated its ten-year anniversary, and has also launched a new website as it strives to increase business across the UK and Europe. Matthew Hodgson, managing director, said: “The craft beer sector is vibrant and we want to better highlight our
brand attributes and the Great Newsome story to differentiate our products in a very competitive market. “We are always looking for ways to take the business forward. Introducing bold new bottle labels and pump clips two years ago proved successful and, now, we’ve gone to the next stage by presenting
what we’re sure will be memorable imagery. “It will also help to increase our audience’s emotional connection with Great Newsome by helping them to identify with the brand and be part of the brewery community.” The brewery, owned by the fourth generation of the Hodgson family, is part of an arable farm
where crops include all the malting barley it needs. Names of Great Newsome’s beers are inspired by the local environment and dialect. Sleck Dust, Pricky Back Otchan and Jem’s Stout, all from 2007, remain popular, as does Frothingham Best bitter, introduced in the following year.
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Business IN BRIEF
Good2Learn chief executive officer Paul Mandalia
Education firm shows why it’s good to learn
COMPANY USES INTERACTIVE LESSONS TO ENGAGE CHILDREN By Phil Winter philip.winter@reachplc.com
AN INNOVATIVE education company, which hopes to boost English and maths skills for children in Hull, has launched in the city’s C4DI building. Good2Learn uses short video lessons – accompanied by interactive questions – to help seven to 12-year-olds push forwards in the core subjects outside of the traditional classroom. Parents can also monitor their child’s progress in different sections of the subjects, and may even find themselves tested with some of the questions young people are asked during their education. Paul Mandalia, chief executive officer and founder of Good2Learn, said the company was offering an educational tool like no other in the market. “As far as education-tech goes, we have created a very innovative platform which makes a huge difference to families. “Up and down the country, children come home from school and if they don’t understand something, the first thing they will do is ask their parents. “Parents will have learnt the skill at some point, but may have forgotten it, or their child may be being taught in a different way. Schools are now asking parents to be more engaged in their child’s education, and that is where this platform comes in.” Good2Learn uses videos, each a couple of minutes long, to teach children in a new and more engaging way. Children can then complete a series of questions, and rewatch the video if they get any wrong to learn from their mistakes. Mr Mandalia said Good2Learn had been created to “bridge the gap between school learning and home learning.” “You only need to do one or two lessons per week, and it makes sure children are working to their full potential.
“It has been very well received so far. Schools in Hull have been very impressed with it, and we have also invited some children in for a taster session, and they absolutely loved it.” Good2Learn offers people a number of short, free lessons on its Facebook page, to give parents and children a taste of the platfor m. It is available on laptop, tablet and mobile, and costs £9.99 a month, fixed for the first year. The price includes access for a family with up to three children, as the new platform aims to be affordable for people across the city. Speaking about his background, Mr Mandalia said: “I moved to Hull five years ago. I think the City of Culture year really accelerated Hull. “The emergence of the digital quarter has made it one of the leading places in the country. “Good2Learn is the culmination of two years of development, and now we are ready to shout about it from the rooftops.” You can find out more about the company and programme by visiting www.good2lear n.com
ABP pilot Clint’s Route 66 dream An ABP employee who has retired after 17 years at the company has revealed his marine memories. Clint Howard, above, who was most recently the assistant dock master at the Port of Goole, finished his last ship on June 3. He joined ABP Humber as a trainee pilot, and worked his way up to become a Class 1 Pilot – a role which involved navigating vessels weighing up to 40,000 tonnes. “When I was a pilot it gave you short, sharp adrenaline rushes,” Mr Howard said. “There were plenty of exciting moments battling the elements. I remember I was on the launch boat travelling to a vessel at the Humber Light Float and it took two hours because of the huge six metre swells. “With the rocking motion it made it difficult to board and it was always my call when to jump on the ladder and sometimes they can be up to nine metres high. “Not only that, but at times I’d have to climb several decks just to get to the ship’s bridge– you really have to rely on your strength and sea legs!” Mr Howard plans to spend his retirement travelling the world, and dreams of driving Route 66 in America with his wife Janet. He admitted he would miss his ABP family and said there had been “fantastic comradery” throughout his career.
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BIG INTERVIEW
IN BRIEF
Claire Walker, left, and Clare Thompson have launched Life Long Care Service Ltd. Below, the company was officially opened by Lord Mayor of Hull Councillor Pete Allen and Lady Mayoress Anita Allen Pictures: Katie Pugh
Kieran Welsh, left, and Connar Kemp
Pair to work on ÂŁ4.2m centre TWO apprentices at Hull-based training provider HETA are working on the company’s new ÂŁ4.2m centre. Connar Kemp and Kieran Welsh, both 17, have joined up with Sutcliffe Consulting Engineers to work on the multi-million-pound site in Dansom Lane, Hull. The new centre, due to open in summer, will offer workshop and lab spaces. Connar said: “I’m slightly jealous that I won’t get to learn there. “When I got told I would be working on the new HETA site, I knew it would be a great opportunity and the site looks incredible, with plenty of space and amazing equipment.â€? The pair will both complete their HETA apprenticeships in a year’s time, with Sutcliffe putting in place a development programme for Connar and Kieran.
Two women who care so much about their work QUALITY OF SERVICE IS MAIN FOCUS TWO Hull women who experienced bad practices in the care industry first-hand have teamed up to raise the bar in the city. Clare Thompson and Claire Walker launched Life Long Care Service Ltd to provide a standard of care in Hull which they say will be unrivalled. With more than two decades of experience between them in the industry, the duo say they have no plans to become another large-scale care company in the city, and instead want to focus on a more personalised, quality service. Ms Thompson said: “I have worked for lots of care companies, and have seen lots of bad practice, so we wanted to do something completely different. “I have seen it all – failing to send carers to people, not giving medication on time, not following up on appointments, and just failing to take responsibility for mistakes. “It is something we both feel very passionately about, and wanted to change.� Based in Savile Street in the centre of Hull, Life Long Care Services currently employs 20 people. As well as providing care in the home in a bid to keep people living independently, the new venture also sends carers into
By Phil Winter philip.winter@reachplc.com
residential homes when they are low on staff. Ms Thompson said plans were in place for more staff to be hired, but stressed she did not want the business to grow as large as some rivals in the city. “There are some places that give 15-minute calls, and that is just not long enough to have the quality,� she said. “If it is 20 minutes and it just to drop medication off then fantastic, but that is not what we are seeing in some cases in Hull. “We want to do calls which are 30 minutes or longer, and to get family more involved in the care.� The new care company is supported by the Prince’s Trust, which the duo have both been involved in. The new care company officially opened on Wednesday, May 30 with a special ceremony at its office in Savile Street. The Lord Mayor of Hull, Cllr Pete Allen, had the honour of cutting the ribbon to open the new business. You can contact the company via its Facebook page
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Categories THE Digital Awards features 11 categories highlighting the key areas of growth and development in our digital industry. Businesses can enter as many categories as they wish, and multiple entries are permitted for different projects. The awards night will also crown our Junior Digital Champion.
Best Mobile App Sponsored by Spencer Group Judges will be looking for a stand-out app, showing innovation, imagination and flair. The app, either a standalone app or interactive element to a website, should be attractive, but also useful, and evidence of interactivity and take-up in its target market will be expected.
Young Digital Person of the Year Sponsored by Wykeland This category will recognise an individual under the age of 25 who has made an impact on the digital landscape in Hull and the East Riding in the past year. They could be a game designer or web developer, artist or software specialist. The winner could be an entrepreneur or an excellent employee whose work has made a difference to their business.
Best Digital Start-up Sponsored by Ron Dearing UTC A company or organisation that has launched in the past two years and has already found a strong and loyal digital following, customer base or audience. The winner will have bold ambitions and clear evidence their growth plans have got off to a solid start.
Best Use of Technology within Education Sponsored by PureSpeed We are looking for a standout performer in education who is using digital technology to interact with pupils, staff and the public. The winner will have embraced the internet’s possibilities for teaching and be able to show how its use has helped pupils develop their skills. Judges hope to see creative uses of technology.
Best E-commerce Sponsored by Arco A company or organisation that can show itself to be a true vanguard of digital commerce. Those who have fresh ideas for selling products online will be looked favourably on and creative thinking will be rewarded.
Best Digital Marketing Communication (inc social media, website and video) Creative campaigns are common, ones that work less so! We’re looking for a one-off marketing or promotional campaign, or continuous excellent use of digital tools, such as social media, to promote a business, organisation or event. Hull and the East Riding is home to a wealth of marketing talent and the best firms in the field recognise digital is now at the core of their operation. Judges will be keen to see eye-catching graphics, unusual videos and impressive ideas on adding value to content.
‘OUR DIGITAL POTENTIAL IS LIMITLESS’
CHAIRMAN OF C4DI SAYS CREATION OF DIGITAL QUARTER ‘CHANGED THE SHAPE OF THE CITY’
T
he creation of Hull’s booming digital quarter “changed the shape of the city”, according to the chairman of C4DI. David Keel, who also co-founded Hull-based company Trident, said the potential of the digital and technology sector in the city is “limitless”, but people should not be surprised at its rapid growth. The news comes as KCOM and Hull Live launches its 2018 Digital Awards, giving businesses large and small the chance to come together to celebrate the thriving industry. “One third of all fibre cables in the UK are under the streets of Hull, so we shouldn’t be shocked that our digital market has been so successful,” Mr Keel said. “I think that, combined with the launch of the C4DI and Hull’s year as City of Culture provided the perfect storm. “The digital quarter has completely changed the shape of the city. Up until it started, St Stephen’s had destroyed the shape and dragged everything over to that side, but the development of our side of the city has changed everything.” The Digital Awards this year offer 11 categories for businesses to enter. From new start-ups and budding young entrepreneurs, to established businesses and companies that are making their mark across the world, there is something for everyone in the awards. The awards officially launch today, with the deadline for entries being August 5. Winners will be crowned at a ceremony on September 20 at The Hull Venue. Mr Keel said: “The Digital Awards is an overwhelmingly important opportunity that businesses would be foolish not to take advantage of. “The publicity that goes with the awards is beyond what start-ups could afford, and if you win, the opportunities that can open up is incredible.”
Nicola Barker presenting the Best Global Reach Award to Trident at last year’s awards and, below, David Keel, chairman of C4DI A report released last month by Tech Nation revealed the booming digital industry that is present in Hull. The sector employs more than 4,000 people, and turned over £568m last year. What’s more, the digital and technology sector has grown 15 per cent since 2014, as businesses such as KCOM, the Ron Dearing UTC, Arco and the C4DI have helped drive the revolution. Mr Keel said internet connectivity is today the most important thing in almost any business. He said: “You could take away a business’s electricity, water or roads, and it would not have as massive an effect on them as if you took away their connectivity. “Every business today that is realistic will realise that it is, in fact, a digital business.
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in association with
Last year’s Digital Awards gave guests the chance to network before the event started at the Stage@The Dock in Hull
Categories Best Digital Innovation Sponsored by Hull College We are looking for a unique design or innovation that has helped a company or organisation take a step forward in their digital journey. Clever ideas for bringing traditional businesses into the digital arena will also be considered.
Best Hardware The judges will assess entrants for evidence of creating novel devices of genuine utility or usability – hardware that supports clear impactful improvement in the lives or situations of its end users. Preference will be given to entries designed for integration, allowing inclusion into larger, broader solutions.
Best Global Reach Sponsored by Trident The judges will assess entrants for evidence of leveraging their own unique digital products and services to gain commercial contracts outside of the UK. Preference will be given to those organisations that have been able to demonstrate that the export of their services has led to increased local turnover and consequent growth/ recruitment, etc.
Best Emerging Technology Sponsored by Arc Studios
“
The judges will assess entrants for evidence of creating innovative technology that broaches new territory in some significant way and that represents progressive developments within a field for competitive advantage. Examples of emerging technologies include educational technology, information technology, nanotechnology, biotechnology, cognitive science, robotics and artificial intelligence.
We are seeing a very high standard of work being produced both in the C4DI and across Hull David Keel
“Hull has got an amazing digital presence and the next stage is to make it even bigger.” Hull’s digital and tech-based businesses turned over an average of £133,000 last year, according to Tech Nation. The city now has 4,283 people employed in the sector, with the C4DI being described as being “at the heart of the tech scene” in the report. “The Digital Awards are different to any other awards at the moment,” Mr Keel said. “I think the future digital landscape will be incredible. Years ago, businesses that needed something digital would employ a team of developers who would sit down and bash some code out. “Today, if you want a nice product, you will think about things like virtual reality and augmented reality, and you will go to a specialist in that field. “We are seeing a very high standard of work being produced both in the C4DI and across Hull.” The Digital Awards 2018 are brought to you by a partnership between KCOM and Hull Live. You can also get involved on social media using the hashtag #HEYDigital Awards and @KCOMheybusiness
Digital Ambassador of the Year Sponsored by KCOM
Adrian Bolster presenting the Best Use of Technology Within Education Award to Digitull at last year’s awards ceremony. Below, Anita Pace presenting the Best Digital Marketing Award to Sowden & Sowden
TO ENTER THE AWARDS, VISIT WWW.THEDIGITALAWARDS.NET
Awarded by the judges to an individual, company or organisation that is leading the way in digital application and development and helping inspire others on the community. The winner will be focused on making the region a great place for start-ups and tech firms and tirelessly promote it to external organisations.
Junior Digital Champion This category is open to students in Years 9 to 11 who demonstrate a flair for using digital technology. We’re looking for students who have produced amazing digital content, developed apps or software, or have used digital technology to produce great work. Nominations must be made by a teacher and are limited to one per school. We want to hear about your school’s Digital Champion!
Terms and conditions You are eligible to enter the awards if your website, app, organisation or business is based in, or has an interest in the following postcode sectors - HU1-20, YO15, YO16, YO25, YO42, YO43, DN18, DN19. Closing date for entries is midnight on Sunday, August 5. All entries will be judged by an independent panel of judges on August 7.
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Business IN BRIEF
Interim finance officer at KCOM COMMUNICATIONS: Broadband provider KCOM has announced Anna Bielby as its new interim chief financial officer. Ms Bielby, who will replace exiting CFO Jane Aikman, will take up the role on July 1. Currently one of the company’s finance directors, she has agreed to step up to the role of chief financial officer. Bill Halbert, chief executive, said: “I am delighted to welcome Anna to the board. “She has the required skills to perform the role well and will bring additional value to discussions at both a board and senior leadership level. I look forward to working more closely with her as she takes on her new role.� A permanent appointment to this position will be made in the future, KCOM has confirmed. Ms Bielby will stand for election by the shareholders at the company’s AGM on July 20.
Left, Ian Hodges, managing director of the Horncastle Groupand Mike Beal, construction director at Hobson and Porter. Inset, Ben Medhurst, director at PPH Commercial
‘Manufacturing is at a 25-year high’ in region DEMAND FOR FACTORY SPACE IN FLOURISHING INDUSTRY THE region’s manufacturing industry is at a 25-year high as demand continues to grow for factory and office space in and around Hull. The past year has seen major projects be completed, including Alumasc Limited’s new 88,000sq ft factory and office facility in Howden, with DHL’s new distribution hub on the same site also in the pipework. Ben Medhurst, director at PPH Commercial, said the manufacturing and industrial industry is now at a 25-year high, and said the region was “flourishing�. “The outlook for the industrial market in general is very positive, with demand outstripping supply,� he said. “These low stock levels are putting positive pressure on rents and capital values, which is good news for investors and landlords. “On another positive note, occupation levels are also excellent at a number of industrial estates that we represent. The Stoneferry Park, in east Hull, is a perfect example of this, having recently become
By Phil Winter philip.winter@reachplc.com
fully occupied for the first time in a number of years following the letting of an 8,000sq ft unit to of biofuel specialists Andritz. PPH Commercial admitted it had been surprised by the high levels of interest in the region since the start of this year. Deals both large and small have been completed already this year, from smaller factory units up to major bespoke design and build facilities. The biggest of these was an 88,000sq ft factory and office facility in Howden, as building products specialist Alumasc Limited moved into its new six-acre home near Goole. The Horncastle Group has also brought forward a 36,000sq ft unit for DHL at the Ozone Business Park, Howden. Once the work is completed, the Ozone Business Park will be completely full. DHL will take a lease on the property,
which will serve as a parcel distribution depot for East Yorkshire and surrounding areas. “The occupation levels we’re experiencing at smaller factory estates are phenomenal and show no signs of abating,� Mr Medhurst said. “This is a significant vote of confidence in this area, with the local economy continuing to flourish.� PPH’s director said he was confident the region’s industrial market would continue to be strong for the rest of 2018. “There’s never been a better time to invest in industrial accommodation in Hull and the East Riding, with the strength of the city’s industrial and manufacturing industry now at a 25-year high,� he said. Over at the other side of Hull, The Thurston Group has opened a new six-acre facility in Holder ness. The new factory will produce bespoke modular accommodation for a range of sectors, including education, healthcare, construction and housing.
ÂŁ500m of Barclays funding up for grabs
FINANCE: Businesses from across the Humber can now apply for a slice of a new £500m growth fund launched by Barclays Bank. The new fund, aimed at small and medium-sized businesses, is part of Barclay’s support of the Northern Powerhouse initiative.
Manufacturing, transport and logistics companies will receive favourable terms if they dip into the lending fund, with free-term lending available for up to ÂŁ25,000. Jes Staley, Barclays Group CEO, said: “The Northern Powerhouse is an initiative which, if
delivered, would help the whole country to meet that challenge and take those economic opportunities. That is why I’m delighted to announce our £500m Northern Powerhouse Growth Fund, enabling businesses across the North to invest in jobs and growth.
“As the UK prepares for Brexit, it’s vitally important that businesses, civic leaders and Government work together to make the Northern Powerhouse a reality.� Businesses can apply for the fund by visiting www.barclays.co.uk or by calling 0333 2027446.
GOVERNMENT SUPPORT NEEDED IN ENERGY SECTOR
ERGO OPENS DOORS AFTER YEARS OF WAITING
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‘HULL HAS CHANGED BEYOND RECOGNITION’ GEOFFREY BOYCOTT AMONG KEYNOTE SPEAKERS AT REGION’S BUSINESS WEEK By Phil Winter philip.winter@reachplc.com
Littlejohn MBE, co-founder of Social Bite, which through its sandwich shops supports the homeless in Scotland. Mr Littlejohn MBE also founded The Scottish Business Awards, and shot to fame when celebrities including George Clooney and Leonardo Di Caprio visited one of his outlets. Speaking about the issue of homelessness – a subject which has been the centre of debate in Hull in recent times – he said: “A common misconception is that homelessness is caused by addiction. “The truth is, a lot of these people
Continued on PAGE 2
AMAJOR business is considering investing in the Humber region because of the success of Hull’s Ron Dearing UTC. Lord Haskins, chair of the Humber Local Enterprise Partnership, teased an audience at the group’s Future Summit on Thursday, June 7. He hailed the impact the UTC has had on the city since it opened its doors last year, and said its success had tempted a big player to invest. Lord Haskins said: “The Hull UTC is an example of education and skills having a real impact.” No further details have been revealed about the business referred to by the chair of the LEP. Ron Dearing UTC opened its doors last September, and is already over-subscribed for the next academic year. It was named in the Tech Nation report has playing a significant role in Hull’s rapid growth in the digital and tech sector, and is working alongside some of the biggest businesses in the region. The UTC also recently unveiled a scheme where students work part-time in the college, giving them the chance to earn-as-they-learn.
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A TRIO of celebrities provided a sparkling finale to the Humber Business Week as they entertained a crowd of leading business figures in Bridlington. Sir Bob Geldof was joined by Yorkshire cricketing legend Geoffrey Boycott OBE and leading social entrepreneur Josh Littlejohn MBE on stage at The Spa on Friday, June 8. The Business Day brought together hundreds of entrepreneurs and leaders from across the Humber region, with seminars and workshops also held throughout the day. Speaking to the Mail, Mr Boycott OBE said: “Hull has changed beyond all recognition in recent years. When I first went to Hull I was playing for Barnsley, and it was a very different place back then. “It is staggering how much has changed. It is a wonderful place. “It used to have the reputation of being out on a limb, but now it is fantastic. “I also remember visiting Bridlington as a kid and playing cricket on the beach. People didn’t used to go abroad on holiday back then, so we used to go to Bridlington and Scarborough.” The former Yorkshire and England cricketer shared tales from his years both on the field and off it, as well as his insight on the future of the sport. He was later followed by Josh
Josh Littlejohn MBE, co-founder of Social Bite. Left, Geoffrey Boycott OBE
Enterprise boss hints at a future investment
2 Wednesday June 13 2018
Business Bob Geldof
Star speakers at conference Continued from PAGE 1 have had terrible upbringings. They may have been taken into care as a child, been passed around the system, and then thrown out of care when they reach adulthood. “From there they slip into addiction, and then it is very difficult to leave the homeless world. “We need to be disengaging in hostels and B&Bs, and police taking people into cells, and start looking at the cause of the problems and helping the homeless into work.” The Business Day saw more than 600 people converge on Bridlington for a day of networking, activities, seminars and speeches. For the first time ever, the leaders of East Riding and Hull City Councils, Councillor Stephen Parnaby and Councillor Stephen Brady, took part in a debate which was chaired by former Hull MP Alan Johnson. Other speakers on the day included Welcome to Yorkshire’s Sir Gary Verity and leadership guru Rene Carayol MBE. Humber Business Week has now drawn to a close for another year. Speaking about its impact, Kath Lavery, chair of the committee, said: “Whatever the size of business you are, large or small, there is something for you. “We like it to have an almost festival feel about it. We have had more than 50 events, and the support we have from businesses getting involved is brilliant. A lot of businesses pay to host their own events, and we are hugely appreciative of that.”
Commercial property expertise across the Humber Region
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‘Government must back the wind energy sector’ PLANS TO PRODUCE 50 PER CENT OF NATION’S ELECTRICITY BY 2050 By Phil Winter philip.winter@reachplc.com
THE Government must back a wind sector deal that sets out plans to power half of the country’s electricity by 2050. That’s the message from the Humber Local Enterprise Partnership (LEP), which last week launched its blueprint for the future of the Humber region. The LEP said the region could benefit even further from the offshore wind sector, as companies including Siemens Gamesa and Orsted continue to drive its growth. Lord Haskins, chairman of the LEP, said at the Future Summit last Thursday: “In the next few months and years, we could either gain a lot of new business, or lose business. “At the moment the supply chain is not strong enough, and competitive enough. We are faced by strong competition from countries such as Holland, and its Government has been very committed to offshore wind. “If you are a supplier, and have a choice between the UK and Holland, you have a good idea where they are going to go. “I think the Government needs to back the sector deal, and commit itself to the future of offshore wind.” Today, five per cent of the country’s electricity is powered by offshore wind. The plan is for that figure to rise to 35 per cent by 2030, and 50 per cent by 2050. If the vision is achieved, by 2050 the offshore wind sector would employ 39,000 people, and hit more than £5bn of exports every year. The LEP is also pushing for greater assembly and manufacturing activity in the Humber,
Lord Haskins has called on support for wind energy industry
whether it is wind turbines in Hull or trains in Goole. It also wants to ensure the Humber ports play a bigger role in the country’s post-Brexit environment, and see the region’s docks take some of the strain from congested southern ports such as Dover. “Road traffic is a problem, especially on the north side of the Humber,” Lord Haskins said. “There has been substantial commitment to improve the road from the Humber Bridge to Beverley, but more needs to be done in the area. “The region is also still in limbo with the possibility of a combined authority. I am in favour of this, and I think it
“
I think the Government needs to back the sector deal, and commit itself to the future of offshore wind Lord Haskins
makes perfect sense for the economy.” The LEP’s blueprint also outlines the need for the region to continue to develop its digital and tech industry. It also wants to see the region expand its research and development base, and create more jobs in the sector. The LEP said investments from companies including RB, Smith & Nephew and Croda – totalling
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BANKING: Small businesses hit by an IT glitch at TSB bank must be compensated, according to a Federation of Small Businesses (FSB) boss. Claire Reading, development manager at FSB for East Yorkshire, said it was “vital” that those affected are given
the support they need. TSB admitted 1,300 people had lost money when life savings and other details were stolen by fraudsters. Ms Reading said: “It’s vital that small business owners affected by the TSB meltdown are compensated. “The disruption has
cost small firms time and money, and left them unable to pay panicked staff. “Perhaps most troubling, business accounts have been accessed by external parties who have preyed on those affected with phishing texts and emails.”
more than £200m – showed the Humber can deliver, but needs to keep pushing forwards. The LEP’s Future Summit was held last Thursday at the DoubleTree by Hilton Hotel in Hull. It brought together business leaders from all sectors, and was held in conjunction with the Humber Business Week programme. Other speakers included former MP Alan Johnson and Orsted’s Benj Sykes.
TSB chief executive Paul Pester
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Business IN BRIEF
Mr Dodd was the Pro-Chancellor for the University of Hull for more than five years, as well as chair of the joint Hull York Medical School. Below, Naga Munchetty
Cash raised for cancer support
Tributes made to an ‘inspirational’ man
CHARITY: Hull-based safety equipment company Arco has raised more than ÂŁ30,000 for Macmillan Cancer Support. Becky Read, pictured front, representing the charity, collected the cheque after fundraising activities, including marathons, charity bike rides, car boots, raffles and bake offs. The money raised is enough to provide a Macmillan nurse in the region for 1,225 hours. Arco recently announced David Evison as its new managing director. The company is also working on a new customer engagement centre, which will be opened in July.
BUSINESS LEADER WAS KILLED IN A HELICOPTER CRASH KEY business figures used events across the Humber Business Week calendar to pay tribute to an “inspirational businessman� killed in a helicopter crash last month. Lord Haskins, chair of the Humber LEP, said he had worked with Her Majesty’s Lord Lieutenant for North Yorkshire, Barry Dodd CBE, for two decades, and hailed the impact he had on the Humber region as extraordinary. He was joined by a host of other business leaders in remembering Mr Dodd throughout last week. Mr Dodd died on Wednesday, May 30, when the helicopter he was piloting crashed near Alborough. Lord Haskins said at the AGM of the Humber LEP: “Many of you will have heard of the tragic loss of Barry Dodd. “We had worked together for nearly 20 years on a range of Humber issues. He had an advantage over me that I did most of my public work after I retired, but he did it while he was working and running a fantastic railway business. “His contribution in making the link between public and private sector business
“
His contribution in making the link between public and private sector business and partnerships was brilliant words words
By Phil Winter philip.winter@reachplc.com
people and partnerships was brilliant.â€? Mr Dodd was the Pro-Chancellor for the University of Hull for more than five years, as well as chair of the joint Hull York Medical School, and, for 17 years, devoted one day every week to unpaid public service. Through his position as chair of the York, North Yorkshire and East Riding Enterprise Partnership, he supported businesses throughout the region, which involved managing almost ÂŁ240m of Government and European funding. “We worked closely for many years, and I cannot say how much I will miss him,â€? Lord Haskins said. “It is a huge loss to the Humber, East Yorkshire and the whole county.â€? Lord Haskins was joined in paying tribute to Mr Dodd by Welcome to Yorkshire chief executive Sir Gary Verity. Addressing an audience at The Business Day, held at Bridlington Spa, he said the region had “lost a friend.â€? Naga Munchetty, presenter and journalist, was hosting The Business Day, and also paid tribute to Mr Dodd in a speech to a full theatre at The Spa. Mr Dodd was appointed lord lieutenant of North Yorkshire by the Queen in 2014, making him responsible for the promotion of civic, commercial, voluntary and social activities in the county. Mr Dodd’s widow, Frances, has said her husband was “a wonderful manâ€? who “lived his life according to his values of honesty and integrityâ€?.
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YOUR VIEWS
IN BRIEF
A visit to Business Week is an incredible networking opportunity VISITORS SHARE THEIR VIEWS By Phil Winter
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Students visit energy plant 1
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ENERGY: Pupils at Kelvin Hall School in Hull have visited Greenergy’s plant in Immingham to learn about the jobs available in the fuel industry. The Year 10 students spoke to employers and apprentices at the plant to find out about the skills needed to pursue specific jobs. The day was led by education charity Future First, and forms part of Greenergy’s commitment to helping young people in the region into work. Matt Lent, chief executive of Future First, said, “You can’t be what you can’t see so it’s crucial for young people to meet and hear from employees in interesting jobs to help them broaden their horizons, raise their aspirations and to develop the skills employers look for.� Greenergy is Europe’s largest manufacturer of biofuel from waste.
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philip.winter@reachplc.com
ALMOST 90 businesses showcased their products and services to a packed room of entrepreneurs at the Hull & Humber Chamber of Commerce Expo. The two-day event, held at Costello Stadium, was attended by around 1,000 people, providing the perfect opportunity for businesses to showcase their talents. Nic Dakin, Scunthorpe’s MP, said 2018 was “an exciting time for the Humber region.� He said: “Events like these hopefully will grow the confidence of the region. It helps put businesses on the map and it is a great chance to showcase the talented businesses and people we have across East Yorkshire and North Lincolnshire.� With this in mind, the Mail dropped in on the Chamber Expo, and asked some of the many businesses the same question: what makes the event and Humber Business Week so special?
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Will Robins, sales director, Promobox
“It brings everyone together, under one roof, and there is absolutely every type of business you could want here. If you are looking for a certain service to help your business, there will be someone here for you, and everyone is friendly and welcoming. “You get to talk to like-minded people without having to go to a more formal speed-networking event, which some people can find quite intimidating.�
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Danny Simms, Multifry
“I think events like this are important with the way things are going at the moment. Everyone looks online and looks for the cheapest and most available product. “This gives you the chance to connect with people, and it also helps to promote the area. Hull is definitely up and coming, and we can
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make ourselves a bigger and better place together. “This is the second Expo we have ever done, and the first one here. We don’t have a big customer base in Hull as we work more with national clients, so it’s good to establish our name locally.�
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Jack Dockerty, Cobus Communications Group
“Lots of people don’t know the ins and outs of what some businesses in the region do. I could now go to a company and find out what services they offer, as well as let them know what we could do to help them and save them money. As much as it is about businesses, it is also a good fun way to meet new people and get your name out. You can build personal connections, and it is a really good way of generating new business.�
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Tricia Benson, F&T Vending Co.
“There are lots of companies here, and a lot of them may not even know each other. Most local companies want to work with local people, and it entices you to different interests as well. There are new businesses coming in all the time, and sometimes you don’t know who the best person is to go to. “This gets people together and gets them all talking, and it is all businesses from across the Humber region.�
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Stephen Parnaby, Vice Chancellor Prof Susan Lea and Lord Haskins Picture: Katie Pugh Game designers Tiya and Dalvia Dhillon
Kids’ mental health game up for award GAMING: A new game that addresses the subject of mental health has landed a brother and sister team with a place in the final of a national competition. Tiya and Dalvia Dhillon, of Long Riston in East Yorkshire, came up with the game, called Trapped, and will now go head-to-head against some of the top young game designers in the country. Their game has been designed to show the impact mental health can have on a person’s life, and has been well received since its creation. The duo, who are 11 and 14, said: “Our game tackles a very difficult issue in the modern world, mental health. We have especially chosen to set our story in a school to show the impact a mental illness can have on a person’s life.” The game will now go up against 39 other entries for the Game Concept Award at the BAFTA Young Game Designers Competition. It gives young people the chance to design and create their own games. Winners will receive a host of prizes, including games, hardware, tours of games studios and a mentor to help them develop their skills. The awards night will be held on July 7 in London.
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Optimism as the ergo centre is open at last TWO DECADES IN THE MAKING THE BUSINESS PARK IS TRADING TWO decades of work finally came to an end last week when the new £3.9m ergo business centre in Hessle officially opened its doors. The new centre, a joint development by East Riding Council and the University of Hull, will focus on the renewable and green sector, and provides state-of-the-art office and conference spaces. It was officially unveiled to a packed room of business and political leaders on Tuesday, June 5, as part of the Humber Business Week. Cllr Stephen Parnaby, leader of East Riding Council, said: “It was 20 years ago when this was first thought up. A lot of that was the development of the Bridgehead Business Park as a whole. “It was largely delayed due to issues with Highways, and then, in 2008, the economic downturn hit the region. “We were looking for funding and when the university came on board it proved to be a massive boost
By Phil Winter philip.winter@reachplc.com
“This centre is proof that good things come to those who wait.” The ergo centre forms an integral part of the Bridgehead business park. The whole park has the potential to support up to 3,000 jobs over its lifetime. Lord Haskins, chair of the Humber Local Enterprise Partnership, was also in attendance at the official opening. He said: “The ergo centre is in the right location to bring the business community together. “It is readily accessible for potential investors from elsewhere and is perfectly situated next to the A63 as well. “It forms part of the Humber’s Energy Estuary vision, which I was partly responsible for creating. “We have every type of energy here in the Humber, apart from nuclear, and it is about bringing all of those together to help the
region succeed.” As well as £2m capital investment from the council, £1m was secured for the centre from the Government’s Local Growth Fund via the Humber Local Enterprise Partnership (LEP), around £710,000 from the Green Port Growth Programme, supported by the Regional Growth Fund, and an equity investment from the University of Hull. The ergo centre is also home to Moe’s Kitchen Café, which provides the perfect hub to meet over lunch or coffee. Professor Susan Lea, vice-chancellor of the University of Hull, said: “The university is delighted to be a partner in this fantastic building, and we are pleased to have been actively engaged with East Riding Council throughout its development. “The Bridgehead location is superb and we believe the ergo partnership will provide further appeal for the businesses the Humber needs to support its long-term growth in the key areas of renewable energy and clean energy.”
Caravan companies unite to make new model TOURISM: Two East Yorkshire caravan companies have united to create a new model for the Great Yorkshire Show. Arronbrook teamed up with the Bridlington Caravan Centre to design the Luxihome range, set to be showcased at the
prestigious three-day event. The duo of companies have said they hope the new model will be popular with both old and new customers alike. Paul Coombs, director of Arronbrook, pictured, said: “After spending several months planning
and getting ready for the launch of the new Luxihome, we’re very positive it will be a success and so are Bridlington Caravans. “Historically, the Luxihome has always been very popular so it made perfect sense to give it a refresh and improve the lay-out for
the 2019 season. “We obviously think the new model is stunning and we’re confident everyone who sees it will be impressed.” You can see the new caravan at the Great Yorkshire Show, which will be held from July 10 to July 12 in Harrogate.
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Spend time in the garden with dad this Father’s Day TREAT DAD ON FATHER’S DAY WITHOUT BREAKING THE BANK WANT to mark Father’s Day without busting the budget? VoucherCodes.co.uk suggests buying greenery for the garden, which the family can plant and watch grow together, hosting a family barbecue if the weather holds up and getting dad in the mood for the World Cup by taking him to watch his local team. Anita Naik, consumer editor at VoucherCodes.co.uk, says: “We all know finding the perfect gift for dad is never easy, and if you don’t know where to start it can also be costly. “Whether you want to take your dad on a fun day out, or treat him at home, there are lots of ways to put a smile on his face this Father’s Day without breaking the bank.” HOUSEHOLDS ‘FAILING TO COMPLAIN ABOUT ONLINE PROBLEMS’ TWO-THIRDS (66%) of people experiencing internet problems have suffered in silence, rather than complain to their supplier, a study from comparethemarket.com has found. Despite not complaining, two-fifths (43%) of those who’ve had problems say outages or periods of slow Internet speeds have impacted them. frustration This could include making it harder to communicate with family and friends, not being able to access a key piece of information, or not being able to complete an important piece of work. MANY PARENTS ‘FAILING TO TAKE OUT HOLIDAY INSURANCE’ NEARLY half (48%) of parents say they do not take out insurance for family holidays, despite more than a third (37%) having Illness is no experienced a fun on holiday child falling ill or suffering an injury while away, a survey by Co-op Insurance has found. Stomach bugs, cuts and insect bites were among the most common ailments children had encountered while travelling, while some parents also reported their children suffering the likes of allergic reactions, concussion and jellyfish stings.
Travelling the world needn’t cost the Earth P
LANNING to head overseas this year for a well-earned break? Despite best intentions, many of us could end up spending far more on holiday than we meant to, according to new research from Post Office Travel Money. With an average holiday spending budget of around £360 per person, to cover costs such as meals, drinks and sightseeing, the survey found that over two-thirds of people who set a budget end up overspending anyway – typically to the tune of nearly £100 per person. But despite this tendency to bust the budget, just one-in-16 (6%) people planning trips this year say they are going to increase their budget to cover higher prices in resorts, or to allow for fluctuations in the spending power of the pound abroad. Here’s how to make sure you really can save, rather than splurge on holiday this year...
It is possible to set a holiday budget and stick to it
Setting a holiday budget doesn’t always mean sticking to it. V ICKY SHAW finds out how you can help keep spending on track you do some homework and check prices for meals, drinks and other tourist staples in the destinations you are considering. “To get a true picture of what your trip will cost, it is important to add resort costs to the package price as our research shows you can save hundreds of pounds by picking a destination where the cost of living is cheaper. Even if the package price is low, high resort costs can bust the budget.”
Don’t splash out on too many toys
against sterling since this time a year ago, the Post Office says. 3. TAKE NOTE OF WHAT OTHER HOLIDAYMAKERS THINK PLACES that have been tried and tested by others are a great way of finding value. In its consumer research, the Post Office found that 57% of people had been to Spain on holiday, and nine in 10 of them said it offered great value for money. Further afield, Thailand and the United States received the thumbs up from holidaymakers who had been to these countries, with 80% of past visitors rating them good value.
4. WEIGH UP ‘ALL-INCLUSIVE’ PACKAGES CAREFULLY THREE-IN-10 holidaymakers are 1. IF YOU HAVEN’T PICKED YOUR heading off on an all-inclusive RESORT ALREADY, FIND SOMEWHERE package this year, the Post Office’s WHERE PRICES REMAIN LOW research found. OVER three-quarters (76%) of But some who had been on holidaymakers say resort costs are a all-inclusive trips previously said worry and help determine their they were surprised about extra choice of destination, the Post Office Good value: The costs they ended up facing, with one Dominican Republic found. in 10 families saying not everything Its holiday costs barometer they’d thought was included ended suggests Bulgaria’s Black Sea resorts 2. PICK A DESTINATION WHERE THE up being covered. are a particularly good bet. Portugal EXCHANGE RATE IS IN YOUR FAVOUR Some said they weren’t happy also offers good value, although the STERLING may still be weaker about having to pay for internet use, Post Office’s research suggests while others ventured out to against the euro than in recent prices in the Algarve have been on restaurants, shops and bars outside years, but there are destinations the rise compared with last year. the resort. Among those who had where the pound will still pack a Andrew Brown, of Post Office paid out for extras on their last punch. Travel Money, says: “If you are all-inclusive holiday, they said an Turkey is a good example, while planning to holiday in Europe and average of £112 per person had the Dominican Republic is a good haven’t already booked, make sure bet as its peso has dropped over 11% been spent.
5. SET A REALISTIC BUDGET BE realistic about your costs, to avoid your budget spiralling out of control and potentially incurring extra fees to pay on plastic or withdrawing cash from an ATM. One solution could be to load money onto a pre-paid multicurrency card, which you could use for another trip elsewhere if you still have money left over after your holiday ends. If you do use plastic abroad, be wary about agreeing to pay in sterling when in shops or restaurants – as this could end up costing you more than if you paid in the currency for your holiday destination. Andrew says: “Our research found that only two in five families took enough cash with them and didn’t have to change more money abroad.” 6. TRY TO RESIST PESTER POWER PARENTS told the Post Office that they spend an average of almost £170 on kids’ beach items. Avoid pester power by setting the kids an up-front budget and letting them decide how to spend it.
8 Wednesday June 13 2018
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Business IN BRIEF
The £12m Aura Innovation Centre will use support the region’s green energy sector
The World Cup will threaten productivity
ÂŁ2bn World Cup economy threat ECONOMY: The World Cup is expected to cost British businesses more than ÂŁ2bn due to staff wasting time and taking sick days. Almost one million workers have said they would fake illness to watch the major football tournament, costing employers more than ÂŁ99m in lost hours. Workers having one eye on social media while in the office will also contribute to the lost business time. Catherine Bannan, HR manager at Printerland.co.uk, said: “There’s no doubt that the World Cup will dominate the water cooler talk across the nation’s offices this summer, but it’s important to make sure the impact on productivity is minimised. “Being too strict with staff could make them more likely to commit the workplace offences our research uncovered. “Instead, bosses should look to compromise with their workers, perhaps by setting up a TV in the break room for staff to watch on their lunch or agreeing to host a World Cup after-work party.â€? Last December’s draw put England in Group G with Belgium, Tunisia and Panama, with the first games currently scheduled at times which will be more pleasing for office workers nationwide.
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High-tech Aura at new ÂŁ12m business project VIRTUAL AND AUGMENTED REALITY TECHNOLOGY USED THE new ÂŁ12m Aura Innovation Centre will use advanced virtual reality (VR) and augmented reality (AR) technology to support the region’s green energy sector. The high-tech software will allow business clients to view the products they are building in 3D before they start making them. Ben George, Aura director, said what was happening in the renewables sector in the Humber was “more excitingâ€? than his previous career flying fighter planes. “We have already seen that VR and AR technology can be incredibly effective at problem solving. You can get a 3D view of what you want to create before you start cutting any metal. “I have had experience with the technology before, and the days of it being a bit gimmicky are long gone. “It is also useful for space training, before any people are put into place. Siemens is already using some of the tech in what it does.â€? Mr George gave an update on the progress of the Aura Innovation Centre at The
By Phil Winter philip.winter@reachplc.com
Business Day in Bridlington – the culmination of the Humber Business Week. The new ÂŁ12m renewable energy centre will be built at the Bridgehead Business Park in Hessle, and will support smaller firms looking to get involved in the energy sector. The final piece of the funding jigsaw was secured several months ago following a ÂŁ4m grant from the European Regional Development Fund. Work on the state-of-the-art centre will start later this year. Mr George said: “The work we are doing in the Humber at the moment is just the start. We are on the cusp and the start of a journey to creating renewable energy history. “We are seeing great innovation in the low-carbon sector. “This is a very exciting time. What we are looking to do in the Humber is ambitious and bold.â€? Funding for the centre has also come from
the University of Hull and Green Port Hull. Other partners in the project include Siemens Gamesa, Ă˜rsted and the Humber Local Enterprise Partnership. The development will house a ÂŁ2m centre of excellence carrying out cutting-edge research and development work to help improve the way offshore wind farms operated and maintained. Mr George said the centre welcomed input from businesses as to the services and support they most needed. He said it would help the centre tailor the work it does around the needs of the region’s companies. Speaking previously about the Aura Innovation Centre, Dr David Richards, pro vice-chancellor for research and enterprise at the University of Hull, said: “I am delighted to see that this vision is becoming a reality. “We still have a lot to do, but this is certainly the right time. “This major win for the region comes just as a sector deal for offshore wind is being negotiated with the Government.â€?
Port of Hull gains popularity with cruises TRANSPORT: Hull is becoming an increasingly popular cruise calling destination, ABP has revealed. This year, seven cruise ships have chosen to berth in the city’s port. The new arrivals join P&O Ferries in Hull, which helps almost one million passengers travel to and from Zeebrugge and
Rotterdam every year. Simon Bird, ABP Humber director, said: “It’s great to see that cruise operators are recognising the Port of Hull as not only a key departure location, but also as a calling port with so many nearby sights to be seen. “We’re confident that it will bring economic wealth to the surrounding areas with passengers visiting nearby
businesses and attractions. “Next year we already have eight provisional bookings and we will continue to invest in the infrastructure of the Port to ensure it’s a premier location to welcome many more holidaymakers.� The first cruise ship to call was the luxurious 157-metre Silver Cloud, which saw 250 passengers enjoy a day trip to Hull and York.
BIG BUSINESSES REPORT INCREASE IN EARNINGS PAGE 2
MAKING MONEY FROM BORING STUFF SUPPORT
THINKING LOCAL TRANSLATES TO FIRM EXPANSION
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The latest business news at hull-live.co.uk
Mixed reality technology has the potential to change many industries
Bankside Patterson, which manufacturers holiday home chassis, is one of the London Stock Exchange’s 1,000 Companies To Inspire Britain
Holiday firm named as one of the most inspirational
MIXED REALITY TECH IS A GAME-CHANGER
UNIVERSITY BACKS INNOVATIVE TECHNOLOGY COMPANY By Phil Winter philip.winter@reachplc.com
been backed by Microsoft. Louis Deane, a University of Hull graduate who co-founded VISR, used the example of a car workshop to explain how the technology could impact our working lives. She said: “The car engineer of the future is going to work very differently to the way they work today. “It’s exciting because, fundament-
ally, the task of repairing vehicles has operationally been the same for decades and we have an opportunity to change it. “The engineer can now work in an environment where, as they approach a vehicle, the HoloLens can recognise where the work has to be carried out and provide direct visual instructions overlaid on the car. “Pair this with intelligent devices, such as robots that bring the exact required parts and tools so they’re at hand and work with the
technician to make them more efficient, and suddenly you’re looking at huge increases in cost savings and productivity.” Companies already signed up to the Mixed Reality Accelerator include Audi, global drinks brand AB InBev, energy company Centrica and India-based digital learning experts, Lear ningMate. Audi is looking to use technology to
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RADICAL “mixed reality” technology, which could change the way businesses run in the future, is being pioneered in Hull. Some of the city’s brightest students, at Hull University, are working alongside a host of global companies to develop state-of-theart programmes, dubbed a “world first”. The Accelerator project, in partnership with graduate tech company VISR, will run for nine weeks over the summer and has also
TOURISM: An East Yorkshire holiday home company has been named as one of the most inspirational in the country. Bankside Patterson, which manufacturers holiday home chassis, is one of the London Stock Exchange’s 1,000 Companies To Inspire Britain. The list highlights the country’s fastest-growing and most influential small and medium-sized businesses. Driffield-based Bankside Patterson was established more than 50 years ago and manufactures steel framing for the holiday home and modular building sectors. Neil Taylor, MD, said: “Bankside Patterson is proud to be recognised in this prestigious report. “We have continued to demonstrate our commitment to further growth. In 2017, we made a large financial investment at our Driffield facility to enhance our manufacturing operations and also improve our IT infrastructure. “These are really exciting times for us and this accolade is a reflection of all our hard work.”
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Big businesses give the economy £400m boost
LARGE FIRMS DRIVE REGION University backs FORWARD WITH EARNINGS INCREASE innovative tech By Phil Winter
philip.winter@reachplc.com
Continued from PAGE 1 improve context awareness and workflow in order to support its technicians. John Hemingway, director of ICT at the University of Hull, said: “As a University, it’s important for us to not only lead from the front when it comes to cutting-edge technologies, but also to look at how those technologies allow us to create ever more skilled and work-ready graduates. “We believe, strongly, in the potential offered by programmes that involve not just education, but also industry and private business as well. “The Mixed Reality Accelerator is a great example of this. “We’re excited to move further into the emerging field of spatial computing and establish the University of Hull as a centre of excellence for this kind of innovation.” Recognising the enormous potential of the combined Microsoft and VISR technology, the University of Hull has invested in the Mixed Reality Accelerator and the creation of a first-of-its-kind specialist facility for HoloLens application development, based at its Enterprise Centre. Leila Martine, Microsoft product marketing director, said: “The launch of the Mixed Reality Accelerator by the University of Hull and VISR, is a landmark programme that is specifically designed to enable enterprises to fast-track the adoption of new technologies. “In this era of profound digital disruption, the majority of industries will experience significant change within two years.”
THE biggest businesses in the Humber are continuing to drive the economy forward as they enjoyed a big rise in sales and profit last year. Companies including Drax Group, Croda, Cranswick and Smith & Nephew have contributed to the region seeing a £400m increase in earnings before factors, such as interest and tax, are added. A trio of Humber-based businesses featured in the top ten businesses across Yorkshire for the highest increase in turnover, as regional leaders also performed well overseas. The news comes as accountants BDO released its Yorkshire Report, which gives an overview on the performance of the county’s biggest businesses. Mark Langford, partner at BDO, said: “Hull and the Humber is home to many world-class businesses operating across a wide range of sectors and are especially strong in manufacturing. “They are responsible for the lion’s share of the growth in international sales and earnings before interest, tax, depreciation and amortisation. “Five companies in the region increased exports by more than £20m each in 12 months.” Drax Group topped the list for the highest increase in turnover in the last year, with Cranswick plc coming in 6th place, and Croda in 8th across all of Yorkshire. Drax also saw the best increase in profits after tax, as Hull City also performed well off the pitch. The 32 corporate companies headquartered in and around the Humber saw a £400m, equal
to 50 per cent, increase in earnings before interest, tax, depreciation and amortisation. Mr Langford said: “The weak pound has also helped companies in Hull and the Humber to become more competitive abroad. It has supported those corporates with overseas operations when they exchange foreign currencies.” Manufacturing was the standout sector last year, according to the report, and particularly so in Hull and the Humber where factories delivered strong growth in revenues, exports and profits. The leisure sector also enjoyed growth, boosted in a large part by Hull City AFC’s year in the Premier League. Mr Langford said: “The Yorkshire Report 2018 shows the enduring strength and importance of the region’s mid-market in driving wealth and prosperity. “They are creating value for
Drax Group, above, and Smith & Nephew are among the region’s businesses to report earnings increases
shareholders and employing more than 150,000 people across Yorkshire and beyond.” The report also revealed the top 250 companies in Yorkshire, and a whole host of Humber businesses made the list. High flyers include Drax Group (3rd), Croda (9th), Fenner (21st), J.R. Rix & Sons (48th) and William Jackson & Son Ltd (54th).
The Yorkshire Report is BDO’s longest-running publication and is a sign of its steadfast commitment to the region. This year, the business and accountancy firm is launching a website for the report, which gives users the opportunity to filter data to gain benchmarking insights into Yorkshire. To read the report, visit www.bdo.co.uk
Trio of regional businesses up for prestigious rural award TOURISM: A trio of East Yorkshire businesses have been shortlisted for the prestigious Rural Business Awards. Indoor and outdoor play attraction William’s Den has celebrated one year since opening by being nominated for the Outstanding Rural Diversification Project.
Team William, which keeps the popular North Cave attraction running every day, has also been shortlisted as the Rural Employee of the Year. Driffield-based producer and caterer Field and Forage Ltd is up for the Best Rural Start-Up, and a shooting school near Goole
completes the list. Awards co-founder Jemma Clifford said: “Congratulations to all the shortlisted business from East Yorkshire, which have made it this far in our awards. “We are so proud to be holding the Rural Business Awards for the fourth year as they
continue to go from strength to strength.” William’s Den was opened in 2017 by Tor and Christian Carver. The rural, natural visitor attraction gives children the chance to enjoy a large outdoor play area and bespoke wooden crafted indoor play space.
Field & Forage makes its own sauces, salsas, jellies, jams and chutneys. The impressive start to business has landed it with a nomination for Best Rural Start-Up. Park Lodge Shooting School is in West Cowick and is a premier clay pigeon shooting ground.
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Business From left, Simon Brabtree, of Mercia, Jonathan Elvidge, of Moodbeam, Christina Colmer McHugh, of Moodbeam, Mark Wilcockson, of British Business Bank, John Connelly, of C4Di
Over the moon with funding INNOVATIVE HULL START-UP GIVEN VITAL CASH BOOST AN innovative Hull start-up, which has designed a wearable device that allows children to log their mood and enhance mental wellbeing, has secured £200,000 of investment. Moodbeam is the brain child of Red5 co-founder Jonathan Elvidge and former journalist Christina Colmer McHugh, who came up with the idea when her daughter became anxious at school. The new high-tech device allows children to record how they are feeling and their parents are then informed through a mobile or online app. It is not exclusively aimed at young people though, as Moodbeam hopes to tackle the complex issue of mental health. Ms McHugh said: “It’s been a two-year journey, but Moodbeam has been shown to provide valuable insights into wellbeing and mental health. “We set out to create a device with the potential to change lives. This investment
By Phil Winter philip.winter@reachplc.com
will help to make that possible.” The invention has received the backing of the Northern Powerhouse through a £200,000 investment. Since being founded in 2016, Moodbeam has seen stellar success, winning the Best Emerging Technology Award at the 2017 Hull Digital Awards. The backing from the Northern Powerhouse Investment Fund will now pave the way for Moodbeam to push forwards with its work. The device, which links to an online and mobile platform, gives insights into how moods change over time, showing patterns and trends that can support positive change. The funding will allow the business to put the device into production. Simon Crabtree, investment manager with Mercia Fund Managers, which manages the
Northern Powerhouse fund, said: “Moodbeam has proven to be a powerful offering, thanks to its ability to timestamp emotions and provide an at a glance way to see how people feel. “The technology could have a wide range of uses, from supporting children and young adults and the elderly in care, to enhancing wellbeing in the workplace and sports perfor mance. “The funding will allow the company to take the next step in bringing it to market.” Over the past year, prototypes have been tested in multiple settings and the company, which is based in Hull’s Centre for Digital Innovation (C4DI), has received interest from potential users including a university, the NHS, businesses, sports councils and health campaigners. Mark Wilcockson, senior relationship manager at British Business Bank, said: “The Northern tech sector is giving rise to a number of exciting products, ideas, and
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Ways to attract and retain great talent
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here is no doubt that we have some extremely talented business minds in our region. We must do all we can to ensure those individuals remain here, contributing to our future growth and success. The “Brain Drain” is a term that is all too familiar to some, who see promising employees attracted to what they believe to be the brighter lights and bigger opportunities that are offered to them in the larger towns and cities. It is, of course, understandable that we witness such movement, but is there more that regional business leaders of today can do to retain those who may well be able to take their place in the boardrooms of tomorrow? The answer is undoubtedly yes, and a combination of financial incentives and HR and employment policies could well
Nasim Sharf, corporate and tax partner at Wilkin Chapman Solicitors
provide you with the solutions you are looking for. On the financial side of things, you can introduce simple but effective bonus or share schemes, for example, the popular Enterprise Management Incentive (EMI). So long as you are advised correctly, these can prove to be a “win, win” situation for both sides. An employee will feel valued, while you may well be able to retain them.
In fact, some schemes will allow “golden handcuffs” to be put into place, with restrictions on rewards if the employee leaves. Of course, it is not just financial incentives that will bind a person to an employer. In fact, it may surprise some to know that pay only comes tenth in the top ten reasons why people stay in a job. A lack of training, a clear progression path and employer/ employee relations all score higher. Taking advice on good HR policies, which match the attitudes and values of your company, will set you in good stead to implement a plan of action that keeps everyone on the right track. ■ For more information, call Nasim Sharf on 01482 398393, email nasim.sharf@wilkinchapman.co.uk or visit www.wilkinchapman.co.uk
“
Moodbeam has been shown to provide insights into wellbeing and mental health Christina Colmer McHugh
innovations that are making a real impact on customers. Moodbeam is testament to that, and the company’s award-winning device has the potential to make positive differences to the wellbeing of customers. “We are pleased to announce this latest round of funding from the Northern Powerhouse Investment Fund, and are confident that the team at Moodbeam will continue to build on its momentum as a result.” The Northern Powerhouse Investment Fund project is supported, financially, by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
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DOUBLE BOOST AS FIRMS LOOK TO MAKE MOST OF INFRASTRUCTURE THE Goole area has received a double boost this week as it continues to cement its reputation as a thriving business hub. A national haulage company announced it has invested ÂŁ1m to move to the popular Ozone Business Park in Howden, adding to a host of big names already on the site. The boost comes alongside news that plans for a new access road at Goole’s Capitol Park has been approved by East Riding Council, paving the way for up to 1,200 new jobs. Goole is rapidly establishing itself as a town on the up when it comes to investment, as Siemens confirmed last week it had secured a ÂŁ1.5bn contract to manufacture underground trains at its new factory. The development of the Goole 36 enterprise zone and Capitol Park has had a massive impact on the developments. Mike Heydecke, on behalf of Sterling Capitol, said: “We are absolutely delighted that planning permission has been granted for our new access road at Capitol Park Goole. This is a significant development for us, underling our commitment to this superb site. The access road will open up the site and create much-needed business space and jobs in the Goole area. “The site has the capacity for 500,000sq ft of quality warehousing and distribution space. We are looking to build one substantial unit, but could subdivide into two. “It is adjacent to Guardian Glass and a major Tesco distribution hub, underling the park’s credentials.â€? The 32-acre site, which has a capital value of ÂŁ43m, has direct access to Junction 36 of the M62 and the Port of Goole, and sits within the Humber Enterprise Zone with potential for a dedicated rail link. Just a few miles down the road, the thriving Ozone Business Park, near Howden, has received a further boost. Established Suffolk haulage company
By Phil Winter philip.winter@reachplc.com
Kersey Freight has invested ÂŁ1m in a new northern depot on the site, after buying the land from property developer the Horncastle Group Plc. The move secures the business park’s reputation as one of the region’s most important logistic hubs, supporting other big-name businesses such as Image Data, TNT, DPD, Warburtons and Timloc. David Crawford, owner of Kersey Freight, said: “As the business has grown and become more successful, we wanted to create a base in the north to better serve our customers, but also one that would be close to the ports in Hull and Goole, the motorway networks and other cities across the region. “Ozone was the ideal location as it ticked all of those boxes, so it was an easy decision. “We worked with Horncastle to secure planning for the land and set about establishing our depot. Now we run a fleet of lorries from Howden, which operate across the Yorkshire and the north of England.â€? Ian Hodges, managing director of the Horncastle Group, welcomed Kersey Freight to the Ozone Business Park. He said: “Right from the start we developed Ozone Business Park as a logistics hub, because of its location. “We knew it would attract companies needing easy access to the road and port network for distribution throughout Yorkshire. “That has proved to be the case with the park attracting some first-class logistics operators, as well as companies in a range of other industries including print and building product manufacture. “We are delighted that Kersey Freight has now joined them and become part of Ozone Business Park’s ongoing success.â€?
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T: 0113 238 2900 E: info@ernest-wilson.co.uk W: ernest-wilson.co.uk The Business Centre, Deanhurst Park, Gelderd Road, Gildersome, Leeds, West Yorkshire, LS27 7LG TRIED AND TRUSTED SINCE 1956
6 Wednesday June 20 2018
hull-live.co.uk
MAI-E01- S4
MY BUSINESS STORY
IN BRIEF
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MD appointed at Hull Trains TRANSPORT: Hull Trains has appointed Louise Cheeseman as its new managing director. Ms Cheeseman, pictured, who is from Hull, started in the rail industry in 2001 as a guard with Northern Rail. She went on to become general manager for the Docklands Light Railway and, most recently, was Hull Trains’ service delivery director. Ms Cheeseman has now taken the reins at the rail company as its MD. She said: “I look forward to leading the team at Hull Trains and building on the successes that we have achieved over recent years, in which we regularly score highly in the industry’s independent satisfaction surveys. “We will offer ambitious improvements for passengers. We recently invested ÂŁ60m in the development and production of five new hi-tech, bi-mode trains that will come into service next year. “This will not only deliver a more reliable service, it will increase capacity and keep people moving and communities prospering as we connect the Hull and Humber region to the capital.â€?
BUSINESS RUNNING INSIGHT FROM CITY ENTREPRENEUR “If something feels right then I would follow it. For example, in developing and building partnerships, if something doesn’t feel right, for example doing a piece of work on a no win no fee basis, you have to say ‘no’. I suppose it is about having the confidence to be able to make that decision, but that only comes with experience.� Ms Johnson is also a member of Hull group For Entrepreneurs Only (FEO). She has supported FEO’s Ignition Programme, working with fledgling businesses in the region, and co-presented a session at The Business Day – the culmination of the Humber Business Week. “For me, the main difference between working a traditional nine to five job is that I can be as innovative as I want and, if an idea doesn’t work out, then that is fine too,� she said. “Being creative and putting ideas into practice is one of my
biggest strengths and, whereas in previous roles I have felt this has been stifled, having my own business lets me develop these ideas. “Another key difference is the work/life balance I have, I have two young children and I work around them so I don’t miss the important things. Of course, you never stop thinking about your business when you own it so you can’t ‘clock off ’ at 5pm.� Kiran shared her three top tips that she has learned from running a business. She said entrepreneurs have to believe in themselves, believe in their products and services, and be human. “The advice I would give is more a question – ‘what is the worst that can happen?’ “I believe that if you have a good product or service and you believe in it, it will go a long way but if it doesn’t what is the worst that can happen?�
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AN ENTREPRENEUR who saw a gap in the market helping companies with “the boring stuff � has spoken of the challenges of running a business. Kiran Johnson, director at Hull-based DKJ Support Services, said having the confidence to say no in the right situations did not come naturally at first, and that running your own business means you cannot “clock off � at 5pm. DKJ Support Services was founded in 2014 and, in Ms Johnson’s own words, helps businesses with “boring� tasks, such as bid writing and policy and strategy development. Speaking about the challenges she has faced in business, Ms Johnson said: “The main challenge which I have had to overcome is that I had a set vision of what I wanted our business to deliver; however there was not a strong market for this.
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FUNDING Small and medium-sized businesses across the Humber are being urged to apply for a ÂŁ1,000 grant at East Riding Council. Through the European Regional Development Fund, the council is able to support eligible businesses looking to
By Phil Winter philip.winter@trinitymirror.com
“We were very lucky that businesses wanted to work with us, but we had to tweak our service provision, since we have done that we have grown year on year.� The co-director of DKJ, alongside Damian Johnson, went into the business with 13 years of experience in the public sector. During that time, she spotted a gap in the market for supporting businesses with “the boring stuff �. Ms Johnson said running her own business allowed her to be as innovative as she wanted, but that not all ideas were a success. Running a business is a learning curve to even the most seasoned of entrepreneurs and hindsight is a very fine thing. Ms Johnson said: “If I was to start again I would follow my gut instinct more.
invest in growing and developing. The grant is primarily aimed at engineering, manufacturing, business-to-business services and online businesses. Unfortunately, organisations in the farming, retail or transport sectors, or
those only serving a local customer base, are not eligible. Businesses must be an SME and have less than 250 employees worldwide, including any connected businesses. The grant is for ÂŁ1,000 and can be used to fund things including tools
and equipment, consultancy support and website development. Darren Roberts, enterprise coach at the council, said: “In order to apply for the grant, you will need to complete a simple business plan, which tells us about your business and what you
need to buy that the grant can help support and how that will make a difference to your business. We will also need three independent quotes for the items you are looking to buy.� For further information about the enterprise grants, visit www.eastriding.gov.uk
MAI-E01-S4
Wednesday June 20 2018 7
hull-live.co.uk
YOURMONEY M ONEY YOUR POUND NOTES Simple steps to help children learn about money T MORE BANK ACCOUNT HOLDERS ‘SAVING EVERY MONTH’ More bank account holders are now saving regularly – but one in eight still do not have a ‘rainy day’ pot of cash they can access quickly, according to a Lloyds Bank Savings Report. More than a third (37%) of people surveyed in April say they are saving at least once a month – up from 31% when a similar study was carried out last November. More than three-quarters (76%) have saved some money in the past 12 months, and one-fifth (20%) expect to be in a position to save more in the next year. Shops enjoyed warmweather boost
SUNSHINE ‘BECKONED SHOPPERS OUT IN MAY’ Retailers saw sales bounce back during May’s better weather with the strongest growth seen in more than four years, as shoppers flocked to garden centres and splashed out on summer wardrobes. Total sales increased by 4.1% year-on-year in May, compared with a 0.2% annual increase in May 2017. This was the highest increase since January 2014, excluding Easter distortions, according to the findings in the British Retail Consortium (BRC)-KPMG retail sales monitor.
CO-OP LAUNCHES NEW DIRECT TO CREMATION SERVICE Co-op Funeralcare has launched a new direct to cremation service, providing a less costly option than a traditional funeral. Cremation without ceremony differs from a traditional funeral, with no mourners present at the cremation. Co-op Funeralcare says the business has found that for many, the decision is not driven by price, but the service gives families the chance to remember a loved one in their own way at a location of their choosing. ■■Financial fact: A record £194 million was paid out to help homeowners deal with burst pipes in the first quarter of 2018 as the freezing weather earlier this year took its toll, according to the Association of British Insurers (ABI).
The sooner children learn about money, the sooner they pick up good financial habits
Starting early could help set children on the path to better budgeting later in life. Vicky Shaw finds out how to go about it
he children in your family may possibly still be a few years away from starting their working lives – but in many homes, youngsters have already started learning about the world of earning. New research shows how the ‘pocket money economy’ is a thriving part of family life, with more than three-quarters (77%) of parents giving their children a regular allowance, according to a survey by Santander. Many also pay their brood more on top, according to the poll, which quizzed parents as well as children aged five to 15. Nearly a third (32%) pay their children to complete household chores, while 18% reward good behaviour at school. But handouts can also be reversed in the form of ‘fines’, with children having to pay their parents back for uncompleted chores or bad behaviour at school. For parents, the pocket money economy is a great If they learned when they were young way to give their children an they should be sensible with money early taste of what it’s like to when they are more independent earn, spend and save their own cash. research that younger is better,” she Ann Griffiths, senior policy says. “Starting them early gives them manager at Money Advice Service (MAS), which offers free money tips, experiences with money that will help them later in life. For example, says a recent study it conducted our insight shows that the more found nine in 10 parents feel it’s parents talk to their children about important to help their children learn about cash. “When it comes to money topics, like advertising, the better they are at making spending when is right to teach your children and saving choices. about money, we know from our
“The good news is that you don’t need to be an expert or great with money to start speaking to your children about it,” Ann adds. “There are things every parent can do.” Here are the MAS’s top tips on how parents can help their children learn about money... Give them responsibility Things like pocket money – or even just giving children responsibility for some money you already spend, for example on treats – will help them in later life when it comes to handling money in the real world. How much money they get isn’t important; what matters is that they can practise with their own money on a regular basis. It’s never too young to start The MAS’s research found that money habits begin to develop before the age of seven, so starting early really is better. Why not get your child to check your bank balance the next time you go the cashpoint? It’s also never too late to start, either. There are plenty of things you can do to help older children and teenagers learn about money too. You could talk to older children about saving for long-term goals like a car, or give them responsibility for phone credit.
Be confident This is your opportunity to help your children develop positive, beneficial habits. Every parent can do little things to help their children, even if you aren’t the best with money. Subtly integrate money into your child’s life You don’t have to have a formal discussion about finances to bring up the idea of good money management. Money is a very practical subject and children can be very hands-on learners. Find ways for your children to handle and use money whenever possible. In younger children, role-play can be used – for example ‘playing shop’ using pretend money. When you go shopping for example, encourage your child to make a choice between two items so they understand they can’t ‘have it all’, or explain to them that while two products are very similar, one is cheaper and it can be sensible to go for that one. It’s OK to make mistakes Ultimately, it’s how we all learn from our mistakes that counts, and that applies to money as well. It’s far better for children to make mistakes with smaller consequences than face bigger money issues when they are older. Talk to them about the choices they’ve made and what they’ve learned, and how that might change choices they make in the future. ■■For more advice on teaching your children about money, go to moneyadviceservice.org.uk
8 Wednesday June 20 2018
hull-live.co.uk
MAI-E01- S4
Business IN BRIEF
From left, Kirk Akdemir and Andrei Sparling
Chemicals firm wins top award CHEMICALS: Croda has won a national award for its commitment to low carbon work. The chemicals giant, which has bases in Hull and Rawcliffe Bridge, near Goole, won the Low Carbon Award at the 2018 National Chemical Industry Awards. The night, held in Newcastle on June 14, celebrated the best businesses in the industry. Steve Elliott, chief executive of the Chemical Industries Association, said: “The industry was a massive contributor to the UK economy and a better way of life. One in three cars are fitted with a Johnson Matthey autocatalyst, wind turbine gearboxes benefit from the energy efficient oils produced by INEOS and the recently announced GSK investment will see the UK continue to be the centre of vital drugs and medicine research and manufacture to combat asthma and respiratory disease. “We, you, are the industry of industries.” Other winners on the night included GlaxoSmithKline and the University of Manchester.
Money secured
SECURITY: A Hull-based magnetic safety lock specialist has attracted almost £100k of investment. GOH Trading, based in West Dock Street, supplies locks for cupboards, doors and cabinets across a range of markets. The business is now celebrating after it received £90k of backing from Bibby Financial Services (BFS) to help it grow. Suzanne Hall, managing director of GOH Trading, said: “As an international business with an ambitious growth strategy we needed a funding partner that could provide a solution to scale with our business. “BFS took the time to understand the international nature of our business and provide the funding package that suited our needs. “The funding will play a crucial part in the growth of the business.” GOH Trading is a family business with customers across the UK and Europe.
Translation specialist looks to expand in city LANGUAGE COMPANY WANTS TO FIND LARGER OFFICE A LANGUAGE company with roots in Hull has pledged its commitment to the city as it seeks a bigger home to expand. AA Global Language Services Ltd, which provides a range of translation and interpreting services, said its office in the city had “grown in importance”, and was being cramped following an influx of staff. The business is now on the lookout for a larger home in Hull. Andrei Sparling, general manager of AA Global, said: “Since we expanded from our base in Worcester, our Hull office has grown in importance and now employs 15 of our 20-strong workforce.
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We’ve looked at a number of sites and we expect to agree a deal soon, with a view to moving during the next few months Andrei Sparling
By Phil Winter philip.winter@reachplc.com
“As more people have arrived, the building has become a bit cramped and we have decided it is time for a move. “We’ve looked at a number of sites and we expect to agree a deal soon, with a view to moving during the next few months. “With a bigger office we’ll be aiming to expand further and we expect to recruit across all areas of the business.” AA Global works in a variety of sectors, and employs almost 15,000 translators and interpreters who, between them, can cover more than 500 languages. Discussions are ongoing over the move to a new home in Hull, and details of a location have yet to be revealed. The company’s CEO, Kirk Akdemir, said AA was hunting for a newer, more modern and spacious premises, with plans to recruit new staff in the future. Andrei Sparling is a recent appointment as general manager, having joined AA as a part-time interpreter and progressed to lead the business’ move to Hull in 2011.
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Mr Akdemir said of the new manager: “Andrei joined us in a part-time role, came in full-time at a very junior level and has taken on more and more responsibility over the years, making a significant contribution to the success of the business. “He has played a pivotal part in our development in Hull and he will be a key figure as we complete the relocation.” Kirk added that the promotion of Andrei sends a message to all new recruits that AA Global will offer the opportunities for the most junior staff to build successful and rewarding careers. Mr Sparling, who comes from Moldova, said: “The work has been very challenging and there is always so much more to learn, but that motivates me, as do the people I work with. “It’s about everybody working together and helping each other. My colleagues are part of the reason I am where I am. “I was one of the first people from AA Global to arrive in Hull and I have seen the transition of the city first-hand. It’s a lovely city and I see it as my home rather than as a place I came to because of a job.”
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Wednesday June 27 2018
CITY SKYLINE HAS ‘COMPLETELY CHANGED’
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STRONG RELATIONS BETWEEN HULL AND THE UNITED STATES PAGE 4
The latest business news at hull-live.co.uk
NHS trusts could save £13m a year
Events at the British Science Festival will educate and entertain. Right, Ivvet Modinou, the event director
SCIENCE FESTIVAL WILL INSPIRE CITY
CELEBRATION OF CUTTING EDGE THEORY AND INNOVATION By Phil Winter philip.winter@reachplc.com
cellor at the University of Hull, said: “We’re really pleased that RB is joining us, along with Ørsted as principal partners, to help showcase science and technology in the region. “The festival programme is incredibly diverse and aims to simplify what can seem to be very complex subjects, so the audience can appreciate the value to society of the science and engineering on show.
“By applying scientific theory to familiar situations and environments the programme reflects the university’s goal of using first-class research to solve real world problems.” The British Science Festival will run from Tuesday, September 11, to Friday, September 14. More than 100 events will be held across Hull, with other leading businesses including The Deep and Hull Truck Theatre all getting involved. Reckitt-Benckiser has jumped on board as a supporter of the festival.
Well-known for brands including Durex, Dettol, Nurofen and Strepsils, RB has joined renewables company Ørsted as a partner of the festival. Clare Walker, R&D category group director at RB, said: “RB has over 150 years’ heritage in Hull, where it leads science and innovation for some of its biggest brands. “We’re delighted to be a Principal Partner in the British Science Festival. It’s a fantastic way for us to engage with the community, inspire
Continued on PAGE 2
MAI-E01-S4
TOP businesses are preparing to showcase Hull’s science and technology sector as the city prepares to host the British Science Festival. The four-day festival, hosted by the University of Hull and supported by Reckitt-Benckiser, will transform the region into a celebration of science in September. The full programme of events for the festival has now been released, with venues and businesses across the city getting involved. Dr David Richards, pro-vice chan-
NHS trusts in the region could save almost £13m a year if they updated their energy systems, a new report has claimed. Figures released by Centrica Business Solutions have argued the missed savings caused by inefficient energy usage is enough to fund more than 400 nursing jobs in the Humber area. Hull North MP Diana Johnson has backed the report. She said: “Transfor ming buildings to be warmer, greener and more efficient offers substantial economic, social and health benefits. “As this research from Centrica indicates, there is a real opportunity for large energy users to improve energy performance, bring down bills and, in the case of vital frontline services like our NHS, ensure budgets can be spent on frontline services rather than energy costs.” NHS acute trusts spend around £500m a year on energy, nationally. The figures are part of a wider report that examines the potential impact of distributed energy solutions on job creation, economic growth and productivity. To read the report in full, visit www.centrica.com
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Business Major science festival in city
Developments such as the Bonus Arena have dramatically changed the Hull skyline
Continued from PAGE 1 people through science and raise awareness of the careers available at RB. “The partnership complements our existing outreach programmes with schools, colleges and universities.� The festival programme features a diverse range of seminars and workshops. Former Hull MP and Deputy Prime Minister John Prescott will share his experience of the Kyoto Summit, which was a pivotal turning point in his relationship with science. Another event will look at what it would be like to step inside a black hole, with male suicide and modern-day slavery in the business world also on the agenda. Ivvet Modinou, director of the British Science Festival, said: “We are really proud of this year’s programme. “It highlights local stories, explores issues of national relevance and celebrates the breadth and creativity of the cutting-edge research taking place across the UK. “We’re looking forward to engaging our festival goers with discussions, ideas and immersive experiences that surprise, delight, and challenge.� The full programme of events is now online. All tickets are free, although space for some events is limited, so book tickets at www.britishsciencefestival.org
‘Completely changed’ skyline shows growth ÂŁ110M OF INVESTMENT IN PROPERTY
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THINKING OF BUYING A BUSINESS? Are you thinking of changing your career - why not consider purchasing your own business. Call our ofďŹ ce TODAY to arrange an appointment for a FREE CONSULTATION and speak to one of our friendly sales team to discuss all aspects of buying a business.
THINKING OF SELLING? Contact our ofďŹ ce and speak to one of our valuers who can arrange an appointment for a FREE VALUATION email sales@ernest-wilson.co.uk or call 0113 238 2900
To ďŹ nd out more about these fantastic opportunities visit www.ernest-wilson.co.uk
T: 0113 238 2900 E: info@ernest-wilson.co.uk W: ernest-wilson.co.uk The Business Centre, Deanhurst Park, Gelderd Road, Gildersome, Leeds, West Yorkshire, LS27 7LG TRIED AND TRUSTED SINCE 1956
HULL’S skyline has “changed completelyâ€? as the city continues to boom with ÂŁ110m of investment into its hotels and venues. Since being announced as the 2017 UK City of Culture, Hull has welcomed exciting developments and arrivals that even the most optimistic person could have doubted. More than ÂŁ100m has been invested into the city’s hotel and venue sector; something which the council’s leader has said is a “testament to the success of Hull.â€? Councillor Stephen Brady, leader of Hull City Council, said: “It is a very exciting time for us all in Hull, with many developments already completed or nearing completion, changing the city’s skyline completely. “The investment into the city and its facilities is testament to the success of Hull as the UK City of Culture last year and enhances our appeal as a major destination for conferences and events.â€? Hull has seen significant investment in new developments, in a bid to attract big names and high-profile events to the city. Late last year, the new ÂŁ25m DoubleTree by Hilton gave the city its first branded four star hotel. The hotel has already played host to a range of high-brow business events, such as the Offshore Wind Conference and the Hull BID Awards. The DoubleTree includes a 1,000 seater, pillar-free conference and events space with its own dedicated entrance as well as 165 bedrooms, rooftop bar and a Marco Pierre White restaurant. Citywide investments also include a major refurbishment of Hull New Theatre, Ferens Art Gallery and Hull Minster. The Hull New Theatre re-opened with a spectacular Royal Ballet Gala performance and since its respective transformations the Ferens Art Gallery has welcomed the prestigious art award The Turner Prize.
By Phil Winter philip.winter@reachplc.com
Across the city, Hull Minster hosted The Turner Prize Award ceremony dinner attended by over 200 guests. When looking at what’s still to come, it is difficult to look past the official opening of the Bonus Arena. Set to be opened in late August with a performance from music icon Van Morrison, the new £36m state-of-the-art music, arts and conference venue already has an exciting programme of events planned. The centre includes a 3,500 standing capacity concert auditorium with flexible seating, which can accommodate up to 2,500. It also boasts 1,200m sq of exhibition space plus an 800-seater conference auditorium. The redevelopment of the old Kingston House building in Bond Street has also drastically changed Hull’s offering. K2 is a new £7m pioneering space in the heart of the city, with 13 floors of combined use. The venue includes a business centre, serviced offices and apartments, leisure outlets, dedicated space for meetings and events as well as a roof terrace providing 360 panoramic views of the city. Elsewhere, University of Hull has recently completed several refurbishment projects, including a £7m makeover of its dining and conferencing facilities, and a £9.5m redevelopment of Middleton Hall, which includes a concert hall, cinema and tiered conference facilities. Significant investment has also been made to refurbish and enhance the Mercure Grange Park Hull’s conference and bedroom facilities. The city also saw the opening of boutique style hotel the Hideout, which is furnished with locally sourced and crafted products.
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Business In just four years’ time, 70 per cent of Denmark’s electricity is expected to come from renewable sources. By 2050, the country aims to run completely fossil fuel-free
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Great Danish relations to help local economy RENEWABLE ENERGY SEEN AS A LINK BETWEEN REGIONS MAINTAINING a strong relationship between the Humber region and Denmark is “important for everyone,” the country’s ambassador has said during a visit to Hull. His Excellency Mr Lars Thuesen has pledged to try and strengthen the relationship between the pair, and said 2018 was “the right time to be in the Humber”. Denmark is currently one of the world’s leaders in renewable energy – a sector which the Humber is at the heart of in the UK. In just four years’ time, 70 per cent of Denmark’s electricity is expected to come from renewable sources. By 2050, the country aims to run completely fossil fuel-free. The Danish Ambassador, Lars Thuesen said: “This is the right time to be in the Humber, the UK is our fourth largest trading partner and our economy has grown by more than 70 per cent since the 1980s. “Maintaining the strongest possible relationship between the Humber and Denmark is important for everyone. We are looking forward to having the Humber as a fervent and reliable trade and investment partner. The Humber and Denmark have many growing business sectors in common, particularly clean-tech and renewables, digital and technology, and pharmaceuticals. We have a great opportunity to learn from each other’s economic reforms,
“
By Phil Winter philip.winter@reachplc.com
environmental sustainability practices and cutting-edge technology.” The ambassador visited Hull on Monday, June 18, and met with members from Marketing Humber and key partners including Lord Haskins, chair of the Humber LEP, and Pauline Wade of the Hull and Humber Chamber of Commerce. The Danish ambassador is an experienced diplomat, with a strong background in the area of trade and investment. He presented on the embassy’s role, consular services, trade and investment promotion and key sectors. Andy Parkinson, chair of Marketing Humber, gave the ambassador an overview of the Humber growth sectors. He said: “Both the Humber and Denmark have increasingly strong economies and the opportunities for further growth are evident. The Humber has had a longstanding link with Denmark since the 1980s and there are many strategic investment alliances to build upon.” During the ambassador’s visit, Rob Marshall, director of Hull’s Spencer Group, spoke about the pioneering work being carried out by the company.
Maintaining the strongest possible relationship between the Humber and Denmark is important for everyone Danish Ambassador, Lars Thuesen
The Danish Ambassador, Lars Thuesen His talk included the £200m Energy Works, which, when completed in Hull, will be the largest privately funded energy to waste facility of its kind in the UK. John Connolly, managing director of the city’s C4DI building, presented on the Humber’s digital and technology sector, using C4DI as a case study example of how the firm incubates and grows digital and technology companies by helping traditional businesses innovate. Mr Connolly said: “In 2017 jobs in digital technology in Hull were up by 15 per cent and £133k is the average digital turnover by employee for Hull companies. “That figure is the highest level north of London and the reason for the report highlighting Hull as the most cost effective place in the UK to run a tech company.”
4 Wednesday June 27 2018
IN BRIEF
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BIG INTERVIEW Mark Robson, regional director at the Department for International Trade
Insurance firm has chartered status FINANCE: A leading East Yorkshire financial advisor has gained a prestigious title awarded to only a handful of firms in the country. The Insurance Partnership Financial Services Ltd, in Beverley Road, Hull, has secured chartered status from the Chartered Insurance Institute. It is given only to firms that meet rigorous criteria in the industry. Paul Newman, director at the firm, said: “We have always prided ourselves on being thoroughly professional in everything we do, and to receive external recognition in this way is very gratifying.” Less than 700 firms have achieved chartered status to date.
Linking Hull and the US
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BUSINESS CONNECTIONS BETWEEN CITY AND AMERICA CAN PROSPER UNBEKNOWN to many, Hull’s business connections with the United States are well-established and thriving. In 2014, the city was the only one in the UK to export more goods to the States than it did to the EU. What’s more, last year, exports from businesses in the Yorkshire and Humber region to the US totalled almost £2bn. But, what can businesses in the city and East Yorkshire do to get the most out of this special relationship? Mark Robson, regional director at the Department for International Trade, has a few ideas. He said: “The world’s largest economy has long had an appetite for British products – everything from fashion to grooming, and technology to chocolate are bought by American consumers with a taste for quality products. “To put this demand into scale, exports to the United States from Yorkshire and the Humber alone totalled £1.8bn last year. “It seems that Hull holds its very own special relationship with the US, too. In 2014, Centre for Cities found Hull to be the only UK city exporting more to the US than it did to the EU.” In the last few weeks, a revolutionary £14m fighter jet left BAE’s site in Brough on its way to Texas. Once there, the F-35 Lightning II will undergo further tests at the home of US manufacturer Lockheed Martin. “There’s nothing stopping other Humberside businesses from taking advantage of opportunities in the US. But there are a few key things firms need to know before they get started,” Mr Robson said. “Companies should not view the US as a single entity. Taxation systems differ from state to state, with individual taste, demand and market competition also varying.
By Phil Winter philip.winter@reachplc.com
“Businesses should take time to develop a strong business plan before they enter the marketplace. One that both considers and adapts to the variety of markets that the country has to offer. “For online businesses, e-commerce sites will need to support US credit cards, US addresses and zip codes. Businesses looking for support can use the Department for International Trade’s (DIT) selling online overseas tool to explore how they can reach new markets through online marketplaces.” In 2017 alone, £81m worth of food and drink was exported from the Yorkshire and Humber region to the US. The sector is a perfect example of one which has flourished between Hull and the States, as businesses large and small in the city continue to lead the way with their brilliant produce. “As well as providing information on exporting opportunities, DIT has 29 experienced international trade advisers, based in the region, on hand to assist firms that are keen to start or develop their US export strategy, as well as an extensive network of staff based across the US,” Mr Robson said. While branching out to the States may be something many businesses in Hull have never considered, the proof really is in the pudding when it comes to success overseas. The Department for International Trade works to boost UK and global prosperity by promoting and backing international trade and investment. Any businesses looking for more advice on how to succeed in the States, and take their products and services to a vast new market, can visit great.gov.uk
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Business
State-of-the-art training centre is unveiled at K2 £6M FACILITY OFFERS IDEAL LOCATION FOR MEETINGS A NEW state-of the-art business facility has been unveiled inside Hull’s £6m K2 building. The centre, which provides an ideal location for companies in the city to hold training sessions and seminars, can seat up to 40 people. It is also equipped with the latest AV technology and screens, and is the latest part of the impressive K2 development to be completed. Brian Freestone, communities director at K2, said: “Community is at the heart of K2. We wanted to create a vibrant space for companies and individuals to do business – whether that’s work, host meetings, hold brainstorming sessions or run
By Phil Winter philip.winter@reachplc.com
a seminar or conference. “Sometimes this can’t be done in the office due to size and space, and providing a fresh environment can also inspire creativity and new thinking. “This is why we created the K2 Training Centre. We didn’t want this to be a place for K2 tenants only, but for other local businesses to use, too.” Situated on the first floor, the K2 Training Centre is designed to provide a corporate space for companies to hire to host staff or
client training sessions away from their offices. It is the latest corporate part of the Bond Street development to launch, with the first occupants moving into private offices and co-working spaces back in February. Since then, Rise gym, Sky Garden rooftop space and Lion Heart Hot Yoga studio have opened at K2, and work is continuing on long-term apartments and an events space for the development. The site is being developed by Tradepark Ltd, based in Beverley. The company bought the former Kingston House building in August last year, and work began in
September. Work at the K2 is moving fast, but it is not yet completed. This summer, the building is expected to welcome a new Indian restaurant, run by the former owner of Rumi’s in Beverley. Arisi will have a unique menu to the city, owner Sham Alom said, including fresh fish landed in Hull. The menu will also change seasonally with vegetarian and vegan dishes available. For more information about K2, visit www.k2bondstreet.co.uk
The centre provides an ideal location for companies in the city to hold training sessions
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We wanted to create a vibrant space for companies and individuals to do business – whether that’s work, host meetings and hold brainstorming sessions Brian Freestone
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Business IN BRIEF
Ruairidh Beath, regional director for Rix Petroleum, with a Wynnstay Fuels truck
College given accounts boost TRAINING: East Riding College has been recognised at a national awards for its impressive accountancy training courses. The education provider, based in Beverley, works with some of the top firms in the region to ensure its students stay a step ahead of the game. Its efforts landed it with a nomination for a national training award, run by the Association of Accounting Technicians. East Riding College went head-to-head with three other training providers for the Training Provider of the Year – Small award. Kate Harding, head of curriculum for business and the leisure economy at the college, said: “The courses are taught in a way that makes accountancy fun and interesting, with real life workplace examples and a supportive learning environment. “I’m so pleased the hard work of the staff and students to make our accounting provision a success has been recognised.” Courses at the college are taught by tutors who work as accountants and help apprentices and people looking to re-train to gain a foothold in the profession. Despite narrowly missing out on the award, the nomination recognises East Riding College as a national leader in its field. Students said: “The environment provided by East Riding College is one of openness, progress and development and it is felt by all of us students.”
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Rix fuelling growth as it expands into Wales PETROLEUM COMPANY ACQUIRES FAMILY BUSINESS HULL fuel giant Rix Petroleum has expanded into North West England and Wales for the first time in its 140-year history. The move comes as parent company, JR Rix & Sons Ltd completed the purchase of Wynnstay Fuels Ltd. The company has bases in Chester and North Wales and the Rix name continues to branch out across the UK. Rory Clarke, managing director of JR Rix & Sons, said the Wynnstay business was a valuable addition to the company’s network. He said: “There is a lot of synergy between Wynnstay Fuels and Rix Petroleum in terms of values and commitment to customer service, so, when we heard Jeff was planning to retire, it made sense for us to look to acquire the business. “From a location point of view, this acquisition gives us a much stronger foothold in North West England and Wales, so we’re delighted we were able to agree
By Phil Winter philip.winter@reachplc.com
a deal and take over the reins from Jeff.” The deal, for an undisclosed sum, takes Rix Petroleum’s network of depots to more than a dozen, from Aberdeen in Scotland down to Essex in the south of England. It means the company, which is headquartered in Hull, has depots in regions across England and Scotland, as well as one in Wales, for the first time. JR Rix & Sons purchased the business from owners Wynnstay PLC and Jeff Kendrick. Majority shareholder Mr Kendrick, who had successfully run the business for many decades, said: “The time has finally come for me to retire, but I am delighted to be selling to family-owned business Rix. “I can see that Rix genuinely cares about its customers and staff and I have no doubt that it will look after the customers and staff of
Wynnstay.” Ruairidh Beath, regional director of Rix Petroleum, said: “We already sell fuel to customers in Wales through our local business Rix Petroleum (Mercia) Ltd, which is based in Market Drayton. “We welcome this opportunity to increase our customer base in the area.” Wynnstay Fuels currently runs a fleet of eight road tankers. The move comes just seven months after Rix Petroleum bought Yorkshire family fuel firm Stones Fuel Oils. The Malton-based company joined the Rix portfolio when its former owner, Geoff Stones, decided to retire from running the business after more than five decades. Mr Stones agreed to sell to the fifthgeneration Hull firm because, as another regional, family company, he was confident Rix would uphold Stones’s values.
Venue makes special offer to charities EVENTS: A popular Hessle venue is offering charities a special deal on the use of its function rooms for fundraising events. The Country Park, on Hessle Foreshore, pictured, has launched a buy one, get one free deal for charities, providing the second event has the
same number of guests as the first. The deal also includes food at the event, as The Country Park continues to do its bit to help raise money for good causes. Mark Ciuffetelli, owner at The Country Park, said: “We wanted to do something for charity and we did
consider choosing a single good cause to support as our ‘charity of the year’. “However, we then came up with the idea of doing a buy one, get one free deal on charity events, which is a way of supporting a variety of different charities throughout the year.
“We regularly host charity events here and get many repeat customers, so this is our way of saying thank you to them for choosing The Country Park and doing our bit to support them.” ■ For details, call 01482 640526 or email info@ thecountrypark.co.uk
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YOUR YOURMONEY M ONEY
The key to keeping your home when you hit retirement
A
t last, mortgage lenders are catching up with the needs of older borrowers and offering products that will help to ease the UK’s interest-only time bomb. Many building societies now allow mortgage deals beyond the age of 75, and some have no age limit for when loans have to be repaid. Relaxed rules from the Financial Conduct Authority around interestonly mortgages in retirement, allowing those who pass affordability checks to continue loans into older age, have led lenders to launch interest-only mortgages for life. These could be a lifeline to those stuck with outstanding debt they simply cannot afford to repay. The FCA changed the rules after its review of the market revealed large numbers of the 1.7 million interestonly borrowers do not have the means to pay off outstanding loans. A study by think-tank the International Longevity Centre – UK and the Building Societies Association last year found that borrowing into older age is likely to move from niche to mainstream within the next decade. The amount of mortgage debt over-65s have is set to nearly double
Mortgage deals are now being offered to people over 75
Lenders offer interest-only loans for longer, reports T ricia Phillips by 2030, from £20.1billion to £39.9bn. Paul Broadhead, head of mortgage and housing policy at the BSA, says the industry must respond to the changing needs of customers with an increasingly inter-generational approach to home ownership. He says: “Our lifestyles are changing, house prices are high and we are living longer. All of these factors mean that people’s financial needs in retirement are moving on too. “Increasingly those nearing, or already in retirement, need to borrow. They may want to help children with a house deposit, supplement their income, deal with an existing interest-only mortgage or move into a more suitable home. “The reasons will be very individual. Mortgage lenders are starting to respond with a range of products including retirement interest-only mortgages and other loans for older borrowers.” The shift in borrowing trends reflects the cultural change in how we now live our lives. Life expectancy has risen to 81.6 years and we are working longer with one in 10 people aged over 65 still employed. Andrew Hagger, from personal finance website Moneycomms.co.uk, says: “It’s good to see that the ‘later life’ borrowing sector is waking up to the fact that we are living longer and finally delivering some new innovative products. “Older borrowers have faced limited options up to now, but lenders are providing a wider range of choices which will allow people to remain in their own homes and enjoy their later life free from money worries. “However, it’s important not to rush into later-life borrowing or equity release products without understanding all the ‘what if’ scenarios. These products aren’t a good fit for everyone.”
Some of these new products could offer a lifeline to those facing uncertainty with interest-only mortgages. But be sure to get independent financial advice and always involve your family in these decisions before signing on the dotted line. MORTGAGES INTO OLDER AGE All building societies provide mortgage lending up to the age of 75. Around 34 will lend into later life and some have no age limit. With all lenders you will have to pass the Financial Conduct Authority’s affordability rules. Bath, Ipswich, Leek and Saffron are amongst the 15 societies with no age limit. Family Building Society lends to age 95, while Nationwide and Darlington are two of the 11 that offer loans to age 85. Seven lenders allow mortgages up to age 80, including Leeds and Newcastle. ■■Pros: You have longer to get a loan repaid and the flexibility to change the loan to keep up with your needs and financial situation. ■■cons: The mortgage debt still has to be sorted and repaid when the mortgage term ends, leaving you with a continued burden that may stretch well into your retirement years. RETIREMENT INTEREST-ONLY MORTGAGES So far three building societies – Vernon, the Scottish and Bath – have launched retirement interest-only mortgages and more are expected to launch these types of loans soon. The latest bank to join this market is Hodge Bank which has a RIO loan for those aged 55-plus. It offers two and five-year fixed deals with rates from 3.44%. This follows hot on the heels of Aldermore Bank offering interestonly mortgages to those with at least 40% equity in their homes but they
must be repaid by the age of 99. These loans enable a homeowner to borrow against the equity in their home and only pay the interest on the loan until the property is sold. This means interest doesn’t roll up and eat into the remaining equity in the property. While traditional equity release mortgages work well for some people, more innovations from lenders means more choice of products to suit our changing financial needs. ■■Pros: You can continue to live in your home for as long as you wish and just pay the interest on your loan. You and your family will benefit from any increase in the value of the property and only have to repay the original loan amount. ■■cons: If your personal or financial situation changes you may struggle to continue with interest repayments throughout your retirement. Interest rates are at rock bottom and could go up in the future, meaning repayment will rise too. If the property market dips, depending on the size of the outstanding mortgage, there’s a risk there may not be enough equity in the property to clear the full amount – and you could leave dependents with debt to clear. EQUITY RELEASE Unlocking the cash tied up in your home can be a way to clear mortgage debt and ease financial
The shift in borrowing reflects the change in how we live our lives
pressure in later years, but it’s not the right move for everyone. Firstly, you will need to have a big chunk of equity in your home to qualify for this. For many people, especially those with big outstanding mortgage balances, the numbers won’t add up. You can t ypically get a plan worth up to around a third of the value of your home. ■■Pros: There are usually no monthly repayments and you can stay in your home for the rest of your life – or until you go into full-time care. ■■cons: It will reduce the value of your estate and can affect your entitlement to state benefits. The interest adds up on these loans over the years, although most plans have a guarantee you will never owe more than the value of your home, so no debt is left to an estate. THINGS TO CONSIDER Will you be able to afford to carry on making mortgage repayments on top of ever-increasing bills when you give up work and have to live off just your pension income? If you are a couple, how would you cope financially if something happened to your partner? People reaching state pension age after April 2016 are not entitled to any share of their partner’s state pension, as was the case for older pensioners. Mortgage rates are historically low at the moment. Even with the strict affordability checks you need to consider that once a fixed-term loan comes to an end you may end up remortgaging onto a much higher rate – it will depend on the financial situation at the time. Furthermore, your spending levels could have changed during that period. Whatever option you may choose, all mortgage debt has to be repaid at some stage – either within a set period of time or upon you going into care or at death. This will have implications on your finances during later year and your dependants.
8 Wednesday June 27 2018
Business By Phil Winter philip.winter@reachplc.com
AN aerospace and defence company, which was one of the first tenants at Brough’s Humber Enterprise Park, has unveiled a major expansion. Cablescan, which manufactures wiring and cables for the industry, moved onto the East Yorkshire site in 2012, when the company had less than 50 employees. Today, the business employs 115 people, and has recently completed its second expansion in Brough. Richard Willis, managing director of Cablescan, said: “We moved on to the site in 2012 and we had 40 to 50 employees then. “Today we have about 115 and, as a result of winning new business, we have expanded into two other leases, which means we have three leases running in parallel now. “Our clients like the site, when they come here, as it is secure and it’s a nice place to be. It puts our customers at ease. “It also has very good facilities and where we are located makes it easy for us to recruit.� The expansion is the second of its kind at the site for the business, taking its total footprint to 33,000sq ft. Cablescan also has a site in Holland, which employs 12 people, and is operated from the UK. The 79-acre business park is a fitting setting for the success of Cablescan, thanks to its rich aerospace heritage. It was once home to aviation pioneer Robert Blackburn, who chose the location for its proximity to the River Hull where he could test his seaplanes. Cablescan manufactures and develops highperformance cables and control panels for the aerospace, space and defence industries. Humber Enterprise Park is close to the M62 and a two-minute walk from Brough railway station.
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Aerospace firm expands CABLE MANUFACTURER MOVES TO LARGER PREMISES Richard Willis, managing director of Cablescan