Post Business Magazine - November 2012 by Liverpool Post & Echo

M O N T H LY R E G I O N A L B U S I N E S S M A G A Z I N E

POST

BUSINESS w w w . l d p b u s i n e s s . c o . u k November 2012

Giving the banks a wide berth Six-page special on access to finance

Building for the future

Langtree’s managing director on his regeneration mission

● BID for growth: Liverpool’s commercial district finds its voice ● Back to school: Firm’s new deal ● Confusion: Green Deal fury 1

INSIDE

POST

BUSINESS

NEWS

Car giant Vauxhall hires Wirral firm to produce safety video

BIG FEATURE

LIVERPOOL POST EDITOR Mark Thomas 0151 227 2000

BUSINESS WRITERS Bill Gleeson 0151 472 2319

mark.thomas@liverpool.com

How Merseyside’s small firms are seeking alternatives to banks

bill.gleeson@liverpool.com

PROFESSIONAL SECTORS

Tony McDonough 0151 330 4918

City accountancy firm expands presence in education market

tony.mcdonough @liverpool.com

17 BIG INTERVIEW

John Downes, managing director of developer, Langtree

Alistair Houghton 0151 472 2449

alistair.houghton @liverpool.com

Neil Hodgson 0151 472 2451

21 ECONOMIC DEVELOPMENT

How the BID is transforming Liverpool’s commercial district

neil.hodgson @liverpool.com

HEAD OF IMAGES Barrie Mills

barrie.mills@liverpool.com

26 HOW GREEN IS YOUR BUSINESS?

MARKETING EXECUTIVE Rachel Street 0151 227 2000

ADVERTISEMENT DIRECTOR Debbie McGraw

Building firm helping to create a greener environment

rachel.street@trinitymirror.com

INTERNATIONAL TRADE

ADVERTISEMENT SALES Neil Johnson 0151 472 2705

Spark Impact welcomes Chinese delegation to Liverpool

neil.johnson@trinitymirror.com

KNOWLEDGE ECONOMY

City region firms capitalising on the offshore wind sector

Diana Griffiths diana.griffiths@ trinitymirror.com

0151 472 2311

COMMERCIAL PROPERTY

Forever 21 store starts to emerge in city’s retail heart

35 BUSINESS LUNCH

Pesto, in Liverpool One

PHOTOGRAPHY Trinity Mirror PUBLISHED BY Trinity Mirror NW2, PO Box 48, Old Hall Street, Liverpool, L69 3EB.

THE LIST

Key events for your diary

TELEPHONE 0151 227 2000

FAX 0151 330 4942

THE NETWORKER

Alistair Houghton takes to his shed

Post Business is printed monthly and distributed with the Liverpool Post. No part of this publication may be reproduced without permission of the publisher.

38 SOCIAL DIARY

Carolyn Hughes out on the town

BRITAIN’S banks have been heavily criticised for being slow to resume lending to the nation’s small businesses, homebuyers and consumers. In this issue of Post Business, we take a look at how banks have chosen to retain funds provided by quantitative easing to strengthen their own balance sheets and liquidity, as they have been required to do by internationally banking rules. Yet, this lack of lending is holding back business investment, the lack of which is, in turn, preventing economic growth. The banks argue in their own defence that they are not solely responsible for the inertia. They claim that Britain’s businesses

BILL GLEESON are not applying for what funding is available. On the contrary, there is evidence that many firms are choosing to pay off debt and build up their own cash balances instead. If this defence by the banks was true, businesses wouldn’t be busily trying all sorts of other funding techniques, some of them really quite innovative, to make good the bank lending deficit. Businesses, big and small, are

increasingly using new lines of credit or funds, some of which didn’t exist prior to the banking crisis, while others weren’t popular in an era when money appeared to grow on trees. Invoice factoring is an increasingly popular method of boosting working capital resources, whereas in the good old days most businesses would have used bank overdraft facilities for the purpose. Ironically, the wholesale funding for invoice factoring is provided by the same banks that aren’t lending directly to business. I recently came across some new, on-

line invoice factoring businesses, including one that matches private investors with small firms seeking funds. Large, cash rich multinationals are increasingly offering quasi-banking facilities to their more critical SME suppliers. Corporate bonds marketed at retail investors have become increasingly popular over the last few years. Property developer St Modwen explicitly states that it would use funds raised from its current retail bond issue to repay, and therefore replace, existing bank debts.

Over the last four years, both Whitehall and the Bank of England have tried hard, but failed, to restore life to the lending market. The latest initiative, known as Funding for Lending, has a good chance of making a difference. This scheme uses carrots and sticks to induce banks to lend more and offers subsidised interest charges to borrowers. Ultimately, there is only one antidote to weak bank lending, which is, of course, a return to economic growth. Until then, all parties are likely to remain averse to the risks of high levels of debt.

BILL GLEESON 3

NEWS

Kop a slice of virtual action at Boot Room Cafe

A budding young striker tries his luck

LIVERPOOL fans, young and old, can take a penalty kick in front of the Kop thanks to a new simulator at Liverpool FC’s Boot Room Sports Cafe at outlet village Cheshire Oaks. The Sim Goal features computer-generated graphics to offer a realistic experience for aspiring strikers. Players can challenge a goalkeeper avatar to a penalty shoot-out in front of the Kop stand, scoring points based on whether they score a goal and the speed of their shot. “The Boot Room

Sports Cafe, in Cheshire Oaks, is the first step in expanding the franchise outside of Liverpool so we are delighted to be able to add this new equipment,” said Paul Cuttill, general manager, hospitality, tourism and events department, at Liverpool FC. “Whether it’s used for training or competing with friends, it is guaranteed to be a hit.” The Boot Room seats 230 people and features Liverpool FC memorabilia, private booths, TV screens showing live sport, and a children’s area.

Vauxhall turns to CPL for vital safety video IRRAL online training specialist CPL e-learning has developed a training course on working at height for car manufacturer Vauxhall. The interactive training programme is initially being used by staff at Vauxhall’s Ellesmere Port site before being rolled out to staff across the UK. The international workforce of Vauxhall’s parent company, General Motors, will also benefit from the training, with several language variations in production. The course took two months to develop, with filming and photography taking place at the car giant’s Ellesmere Port plant, which is home to its highly successful Astra model. Real-life footage was used throughout the programme and members of the Vauxhall team took part in the filming to help bring to life, and emphasise, the crucial safety messages. David Dasher, managing director of CPL Online, said: “Health and safety training can be a very dry subject and, in some instances, is a simple boxticking exercise.” Mr Dasher added: “Vauxhall prides itself on its exceptional health and safety record, and is keen to explore new ways of getting the message across. “We worked closely with them before work began to understand their objectives, recognising the best way of engaging with Vauxhall’s huge workforce.” CPL used a multi-media platform to get the message across, using real-life footage, animation, graphics and voice-overs. The course lasts about one hour and can be carried out in stages as a flexible learning tool.

David Dasher, CPL managing director, left, with Patrick Roberts, Vauxhall occupational health and safety engineer

QUALITY

LEGAL

Stella Kuit, Head of Private Immigration, Jackson & Canter QualitySolicitors HIGH Court grants permission for London Met to hold Judicial Review ON SEPTEMBER 21, 2012, the High Court gave London Metropolitan University permission to judicially review the UK Border Agency’s (UKBA) decision to revoke its licence to sponsor international students. The High Court has also now approved an agreement between both parties that will allow new and existing international students to continue with their studies as long as they are already in the UK and hold the correct visa. This has enabled London Met to give assurance to international students that they will be able to complete their current academic year or course, whichever is the sooner. The revocation of the London Met’s licence by the UKBA in August affected more than 2,000 overseas non-EU students. This is the first time that UKBA has stripped a “Highly Trusted” UK university of its ability to sponsor overseas students since the introduction of the current points-based visa application system. A pledge by the Government to cut UK net migration to “tens of thousands” has seen overseas students staying here for more than 12 months, caught unfairly within these restrictive figures. The implications of this for Higher Education as an export industry for the UK are potentially catastrophic. This is particularly the case given The National Union of Students’ estimation that international students currently contribute £12.5bn each year towards the UK economy. In this current economic climate, surely a distinction has to be made between overseas students and other migrants when putting net migration targets in place. Under Tier 4 of the pointsbased sponsorship system,

licence holders are required to demonstrate full compliance within separate areas of a very rigid administration process. This includes keeping accurate and up-to-date records on all overseas students which must be maintained throughout the duration of the sponsorship itself. In addition to this, sponsors must continually monitor the attendance and immigration status of each overseas student while following up reporting duties to UKBA within a designated time frame. Evidencing compliance and ensuring that these duties are adhered to can be particularly onerous for the licence holder. Higher Education institutions must now have designated teams and compliance officials employed specifically for this purpose. Although the revocation of London Met’s licence was an isolated incident, and unlikely to affect the majority of overseas students studying in the UK, the UKBA’s actions do seem to be particularly disproportionate where the specific penalisation of legitimate overseas students already in the middle of their studies is concerned. It also has the potential to be extremely damaging to the international reputation of British Universities as a whole. The High Court’s decision to grant approval for a judicial review, while also allowing existing London Met overseas students to continue studying, shows that there is a recognised need for urgent temporary measures to be put in place before a full review can be made of this arguably flawed and overcomplicated system.

‘Overseas students contribute £12.5bn towards UK economy’

■ FOR more information, email stellakuit@ qualitysolicitors.com ■ IN ASSOCIATION with QualitySolicitors Jackson and Canter

In Business for your Business

OPINION

Climate of openness vital to thwart unseemly conduct

Employers must examine workplace rules to avoid potentially devastating consequences RECENT events show that when things go badly wrong in an organisation someone else usually knows about it. But how do you make sure they feel they can speak up, asks MARY AUSTIN, MD of Liverpool training company AFTA Thought AS ALLEGATIONS against Jimmy Savile unfolded the shocking reality emerged that it was something that happened across the country, for over four decades. And once the shock began to subside, people started asking why it was able to happen. Undeniably, the BBC has serious questions to answer – as has the NHS – for the ease with which Savile was allowed access to patients and vulnerable young people. Only days ago, a private care home made the news after it “failed to respond appropriately to allegations of abuse”. Six of its staff have now been arrested. But these are just the high-profile cases. Most of us know someone who’s left a job, or struggled at work, because the culture of the organisation meant they faced bullying, harassment or prejudice. The question is – whether you’re the victim, or suspect someone else of acting inappropriately – what you do next? What does the workplace culture dictate? Commentators point to a “culture of sexism” at the BBC, but also a culture of denial. Other employees admit they heard rumours but didn’t feel in a position to challenge it. Janet Street Porter, broadcaster at the BBC in the late 1980s, spoke on Question Time about the culture of “inappropriate behaviour” across light entertainment: “A lot of people in the BBC knew what was going on. I heard rumours but I was working in an environment that was totally male. Do you really think that if I said to someone at the BBC higher up than me this was going on – they wouldn’t have taken any notice of me whatsoever,” she said. While big companies are held up as examples, harassment, bullying or discrimination can happen anywhere – particularly if staff and managers aren’t sure how to deal with issues. How would staff describe the culture of your company? Start by asking yourself these five questions: ● Do your staff know what behaviour is and isn’t acceptable? ● Does your company behave the way that it says it does? ● Do you and your staff behave within the law of the Equality Act 2010? ● Are your staff confident that their managers can manage? ● Is yours a safe company? If the answer to any of them is “No”, you could be just as vulnerable to abuses of power as the BBC found itself. Having a policy in place is one thing – creating a culture where people adhere to them, and feel confident in speaking up, is another. Ultimately, you’re responsible for the people who work for you. Whatever industry you’re in, however large or small that business is, the key is getting staff to spot the signs, and knowing how to react . . . do yours?

Bullying and harassment left unchecked in the workplace can leave employers open to legal and moral consequences

Has your organisation got a culture of denial? Mary Austin, of AFTA Thought

Allegations – Jimmy Savile

1 YOU have a manager who seems unable to work with teams. They have a high turnover of staff, but are brilliant at what they do . . . ● Do you do anything? ● Do you investigate why? ● If not, why not? The question is, what’s the underlying reason? 2 A VERY new employee brings to you, as a manager, a concern that their boss is

acting inappropriately towards them. The boss is verbally, sexually suggestive and puts them down in front of others. You know the boss – they’re renowned for testing out new staff, and losing them if they’re not up to scratch. What do you do: ● Do you laugh it off? ● Do you try and minimise it – after all, they’re a new employee? ● Do you look into it?

3 YOU’RE an organisation that works indirectly with young people; vulnerable people. Your staff aren’t aware that your workplace could be a magnet for people that abuse and take advantage of these groups, eg, a shop, or bank. Do you: ● Think about how to educate staff about what to do if they have concerns? ● Ignore it – it’s not a priority? Keep your fingers crossed!?

INSPIRING ENTREPRENEURS The North West Fund is a substantial evergreen investment fund in excess of £150million established to provide debt and equity funding from £50,000 to £2million to small and medium-sized businesses based in the North West or those who want to relocate here. The Fund is ﬁnanced jointly by the European Regional Development Fund and the European Investment Bank and is designed to help create jobs and prosperity for the region through minority investments in growing businesses. The Fund was launched in December 2010 and to date has invested nearly £35million in more than 125 businesses, with many more investments in the pipeline. The North West Fund comprises six subfunds, each managed by a specialist fund manager who supports businesses at each stage of development:

` nu~ ypigu l~hg ]fq wpi m~qgfi~ a jtg s wpi q~d hg ig|fjh q early-stage businesses looking to grow; ` nu~ ypigu l~hg ]fq wpi _~e~spjr~qg a jtg s wpi ~hg sthu~ businesses looking to expand; ` nu~ ypigu l~hg ]fq wpi bfhtq~hh zp qh dut u jipet ~h ~ g oq q ~ options for businesses; and ` xfi gui~~ h~ gpi wfq h pe~itqv btpr~ t s} ^q~ivc k ^qetipqr~qg s q _tvtg s k ai~ gte~{ What’s more, 40% of the total Fund is reserved for Merseyside to help the businesses in this area grow and prosper. The North West Fund is inspiring entrepreneurs and creating a lasting legacy for the future. Here, two entrepreneurs explain how The North West Fund helped their businesses.

SOLID SUCCESS FOR ROCK NETWORKS

AMBITIOUS GROWTH FOR EDUCATION FIRM

Technology company Rock Networks attracted £250,000 start-up funding from The North West Fund for Venture Capital in May 2011. The business, based in Golborne, near St Helens, celebrated its ﬁrst anniversary of investment earlier this year with jobs and turnover growth.

Liverpool training and education company Ambitious Minds secured £350,000 investment from The North West Fund for Venture Capital to support its impressive expansion plans.

Following the investment, Rock Networks, which is a voice and data specialist for businesses looking for new technology, boosted its customer base with contracted revenue in excess of £1.5million. As a result, the ﬁrm has taken on 18 new members of staff to deal with this increase in demand.

The company is dedicated to working with young adults to provide them with effective ﬁnancial education and employability skills. Ambitious Minds turned to The North West Fund to provide the working capital it needed to market its services. Rock Networks managing director Stewart DeRoma

Managing director Stewart DeRoma said: “We were at square one before the investment from The North West Fund. We’ve used the investment to expand everything from our IT systems and infrastructure to our sales and operating staff. “The future is promising as the demand for data specialists is ever-increasing. Hitting the £1million turnover mark in January was fantastic but we continue to look to the future to plan for growth.”

/ SUPPORTED BY

Sean McGuire, chief executive at Ambitious Minds, said:

Will Clark, of The North West Fund for Venture Capital, manged by EV, left, and Ambitious Minds chief executive Sean McGuire

“We had always wanted to base our business in Liverpool, so it was the perfect opportunity to work with The North West Fund. “In the initial meeting we ran through our background and experience to clearly understand the path that we wanted to take. Once all the ﬁnancial information and business plans were supplied, things started to move fairly quickly and a detailed understanding of our business model was established. “It is a very exciting process and the partnership we have developed with The North West Fund will enable us to build this business together.”

Interested? To ﬁnd out how The North West Fund can inspire you and step-change your business or a business you advise, contact us:

Which businesses are not eligible for funding? Most businesses are eligible, with the exception of those operating in the retail sector, or primary production industries, such as agriculture and ﬁsheries, defence, and some property development. The Fund cannot invest in re-ﬁnancing existing commercial borrowings or failing businesses. For further details on eligibility please check the website or contact a fund manager.

The North West Fund The Maltings, 98 Wilderspool Causeway Warrington, WA4 6PU

T: 01925 418 232 E: enquiries@thenorthwestfund.co.uk W: www.thenorthwestfund.co.uk

THE BIG FEATURE

Lending a hand

With industry constantly bemoaning the lack of assistance from the banks, is there any prospect that measures put in place by Bank of England governor Sir Mervyn King can satisfy Britain’s business leaders – and fend off criticism of the banking industry? Picture: REBECCA NADEN

BY BILL GLEESON

▲ ▲

The Bank of England has managed many financial crises. Can it now make Britain’s banks resume lending?

THE BIG FEATURE CONTINUED FROM PAGE 7 UCH has been done to strengthen and reform Britain’s banks during the past four years. The Basel III agreement and the Vickers report have resulted in stronger balance sheets, improved solvency margins and a series of proposals designed to prevent a repeat of the banking crisis of 2008. At the same time, the Government and the Bank of England have implemented a range of measures and incentives to encourage banks to start lending again, both to business and consumers. These include quantitative easing, the green investment bank and regional growth funding. The latest is the Bank of England’s Funding for Lending Scheme, designed to increase the supply and reduce the cost of lending to small businesses and personal borrowers. Yet, despite all of these initiatives, the banks have so far kept the purse string tightly closed. Monthly figures published by the Bank of England show that overall bank lending to business is continuing to fall. In any case, businesses don’t seem in any hurry to extend their borrowings, even if funds are made available. Firms up and down the country are not prepared to borrow money to grow while the economy remains weak and the uncertainties affecting the eurozone continue. North West region director of the EEF, the manufacturers' organisation, David Ost said: “Our experience following quantitative easing, when the Bank of England handed cash to high street banks to support SMEs, was that it didn’t happen. The banks used the money to rebuild their own balance sheets instead. “Small firms were constantly looking for finance.” Mr Ost says that one big problem is that banks seem to have lost touch with their customers. The old-fashioned branch manager, who was likely to have known his business clients well and even visited their premises from time to time, doesn’t exist any more. Instead, lending decisions are made by faceless committees. He said: “There is now a group of stakeholders in the banks who will make the decision. The company making the application for funding can’t talk to the decision makers. “Banks do have considerable funds to lend, but the problem for an SME is that the cost of borrowing is so high that SMEs are having to look at other sources for funding. “Also, even if small firms were prepared to pay the higher rate, the entire risk is on the side of the borrower rather than the bank.” The fact that small firms can’t raise sufficient working capital is having a knock on effect on the larger firms they supply. This has caused some large companies, which have substantial cash reserves, to start funding the working capital needs

of their smaller suppliers. Mr Ost explained: “A number of multinationals are almost creating their own internal banks because they are concerned about their supply chain. They fear that if their smaller suppliers get to a point where they are short of funding it would disrupt their own operations. “A number of them are supporting the finances of some of their SME suppliers. “Also, organisations like Lombard are trying to move SMEs into asset leasing rather than traditional bank borrowing. That’s a positive for the SMEs.” One business that has found it hard to access funding on a number of occasions since 2008 is Knowsley Business Park-based cable manufacturer Tratos. The company, which has been trading in the UK since 1981, currently employs 50 staff, but is hoping this number will rise to 130 on the back of inward investment by its Italian parent.

Managing director John Light recalls how, in 2008, the opportunity arose to purchase a struggling manufacturing company based in Knowsley, thereby saving 60 jobs. In the end, the deal was concluded, but not without a bumpy ride from the banks. Mr Light said: “This coincided with a major stress point in the banking world. We were with Barclays when this went through and the target of our acquisition was with RBS and Lloyds at a time when all of these were headline news due to the banking crisis. “None had a real appetite to fund this new business solely but we did, after some negotiation, end up with RBS.” Mr Light said that the deal proved expensive both in terms of the interest charged and an interest rate hedging product that the bank required Tratos to take out. Referring to the requirement

for a hedging product, which he said was introduced into the negotiations at the last minute, Mr Light said: “It did feel compulsory that we purchased from them an expensive product to cover this and without it we were not going forward.” Nor was that the end of the story. Tratos has experienced working capital challenges arising from business growth at Knowsley. The growth came at a time when both the price of copper, an important raw material in cable manufacture, rose along with demand for Tratos’s finished product. Mr Light said: “The price of copper has averaged around £5,000 per tonne since we took over and we have moved from using circa 70 tonnes per month to 120 tonnes. “Our metal purchases get an absolute maximum of 30 days’ credit, but the time taken to process the material into finished product to finally collect payment

can be up to four months. Add to this the demands by our clients to hold stocks, there is always pressure on cash flow. “We have been able to alleviate some of this by invoice discounting, which is useful but expensive. “We also find that even what we regard as very low risk business will not be accepted, as the bank might not like some condition in the contract.” He said RBS, a state-owned bank, refused to discount debts owed to Tratos by an agency of the British government. He added: “We are looking at other funding options, such as asset finance. “While the banks are keen to talk, there seems to be limited funding available, even if they have first call on stock, buildings, plant and our debtor book. The amount available is fairly small in comparison. It’s also short-term and expensive. “Generally, whoever we talk to

THE BIG FEATURE

Radical reforms at the Bank of England

Banker outlines 318 years of dealing with crises

John John Light, Light, managing managing director director of of Tratos, Tratos, at at the the company's company's cable cable factory factory in in Knowsley Knowsley Business Business Park Park Picture: Picture: GAVIN GAVIN TRAFFORD TRAFFORD

at whatever level is very helpful and they indicate that funds are available, but the decision-making process is slow and often has to involve yet another department. It’s not like the old branch or area business, managers.” Now Tratos has another requirement for funding, and this time it involves more than just the banks. The Italian parent has a factory in Sicily that manufactures almost the same range as their only other factory in Tuscany. Since demand for cable in Italy is currently weak, the Sicilian factory’s output has to be exported. However, it is expensive to ship cable, making it a better proposition to move the plant and equipment to Britain, where demand is relatively strong and supply weak. Mr Light explains: “We are now looking at closing this down and bringing all the equipment to the UK, where there is a home market keen to have a better control of its supply chain.

“We believe that there is a place for us if we can manufacture a full range for the home market and there is also still a worldwide respect for British made goods. “So we are looking for some financial assistance to do this and create directly over 100 new jobs which will in turn create additional support work such as maintenance, car servicing, even sandwich shops. “Our initial approaches to the various development and investment agencies have not met with much response as funding, especially in England, is currently small scale or awaiting a new batch of support. Scotland and Wales would appear to have more interest for inward investment, but that would involve a loss of jobs at our current site. “[Business Secretary] Mr [Vince] Cable’s business bank is some way from being in a position to actually lend money, and I am concerned that we will lose this opportunity.”

THE Bank of England (BoE) has seen many financial crises come and go during its 318-year history. Today’s protracted crisis is every bit as challenging as those of previous decades and centuries, and the BoE is responding by implementing a range of fundamental regulatory reforms. In a recent speech to students at Queen’s University in Belfast, Andrew Haldane, the BoE’s executive director for Financial Stability and member of the Financial Policy Committee, said: “A wholly new framework for financial stability policy is being put in place in the UK, perhaps the most radical in the Bank’s history.” Mr Haldane cited examples from history, including the Barings crisis of 1890 and the Overend and Gurney crisis of 1860, both being instances of BoE intervention to support financially troubled institutions. Mr Haldane explained that, following criticism of its role in bank failures and financial panics during the 19th century, the BoE became guardian of the financial system as a whole, protecting banks from what is today called systemic risk. He described how, in the years following World War II, small British firms were finding it hard to borrow money, a fact that will resonate with small firms today. In 1945, the BoE intervened by creating the institution that today operates under the name 3i. Mr Haldane said that, during the early part of the 20th century, the BoE also gradually assumed a role supporting credit creation and the wider economy which has continued to the present

In remembering the errors of the past, it gives us a fighting chance of not repeating them – Andrew Haldane, executive director for Financial Stability and member of the Financial Policy Committee day with the Special Liquidity Scheme in 2008 and the Funding for Lending Scheme introduced this year. Most recently, the BoE has been at the forefront of the debate about re-organising the structure of banking, with a ring-fence or firewall between the basic retail and investment banking sides of the business. According to Mr Haldane, the big lesson to have been learned from the recent financial crisis is the need to “pre-emptively monitor, and act on, risks arising across the whole of the financial system”. The fact that banks have quadrupled in size since 1990 has increased systemic risk and led to the introduction of macro-prudential policies, the

missing policy link during the pre-crisis period and the essential bridge between monetary policy and regulation. These lessons from history, he argued, are reflected in the wholly new structure for financial policymaking in the UK. Prudential regulation will move to the BoE and will undergo a “root-and-branch change” that will combine front-foot supervision with a focus on the big risks. The new approach will also be tolerant of bank failure, so that market discipline can “work its magic.” Mr Haldane concluded: “In remembering those errors of the past, it gives us a fighting chance of not repeating them.”

Bank shareholders to get bonus veto BANKERS’ bonuses are to be determined by shareholders under new rules currently being drafted by the European Commission. Finance chiefs in Brussels want investors to be given the power to cap the payments to ensure they do not exceed salaries.

Stefaan De Rynck, spokesman for the EU’s internal markets commissioner Michel Barnier, said there was a moral issue behind excessive bonuses. He said: “The bonus culture had an impact in terms of giving incentive to banks to take excessive risks and when liquidity

also dried up in the market that led to disaster, as we have seen. The spokesman added: “So we want to legislate on the bonus culture to change that culture. “It’s important for the efficiency of the bank there’s also a moral and ethical issue involved here about excessive

payments to bankers we have seen in the past.” Further discussions are expected to take place next week in relation to the radical bonus reform, which would require shareholders of individual banks to decide how much bankers would receive in extra cash payments.

THE BIG FEATURE

Banks need a fresh lease of Bankers hope new funding scheme will kick start lending, Bill Gleeson reports The Bank of England and Whitehall have tried a wide range of carrot and stick measures to induce Britain’s banks to lend more to business and consumers. To date, none of them have been all that effective. The latest measure is the Bank of England’s Funding for Lending Scheme. It works by allowing banks and building societies to borrow from the Bank of England for up to four years. As security against that lending, banks will provide assets, such as business or mortgage loans, to the Bank of England. The more the banks lend, the more they can borrow from the Bank of England. Banks that are increasing their lending will pay the lowest rate on their borrowing, while those that reduce their lending will pay a higher fee. The Bank of England will publish data on the usage of the Funding for Lending Scheme, along with lending data from the participants, on a quarterly basis. This design should mean that banks that don’t lend enough to business and consumers will become uncompetitive. Tim Rigg, Lloyds Banking Group area director for Merseyside, North Wales and West Lancashire, specialises in lending to businesses with turnovers in excess of £15m. Clients include Bibby Line Group, Clarke Energy and law firm DWF. He said: “Demand is not high, but we are able to support our customers, and we are lending to a good number of customers. Our new lending is up this year compared to last year.” He points to the fact that many businesses have reduced the amount of debt they hold on their balance sheets and that cash balances have risen. He said: “Companies are repaying debt and businesses are storing more cash.” The Government has recently introduced the Funding for Lending scheme, which it hopes will encourage more firms and banks to borrow and lend. Mr Rigg said: “The Funding for Lending scheme should help. We are hoping the cheaper money will encourage those businesses which have not pressed the button on new borrowing. We hope they will be persuaded there is new money around and that is it reasonably cheap.” The Funding for Lending scheme should allow banks to offer cheaper interest rates to borrowers than would otherwise

be the case. Mr Rigg said: “It should mean a 1% reduction on what it would otherwise be. “The actual rate paid reflects the risks and size and scale of the businesses doing the borrowing. “With Funding for Lending, they could be borrowing for three years at under 3%, which is as cheap as it will get in our life time. “So it’s not the cost of money that’s holding people back. “It’s more their lack of confidence in the wider market and the eurozone.” Mr Rigg insisted any business with a credible business plan would have been judged on the same criteria today as they would have been pre-crisis. It is different, however, when it comes to corporate transactions. Banks are much more prudent about their support for such deals.

He said: “Valuations and price expectations have changed. “They have reduced quite substantially. “A number of SME owners that have stuck with it for the past four years are now trying to sell their businesses and having to be more creative. “If you want to sell a business, you might not get as much, so some are taking the price in deferred consideration. “We are starting to see more of those sorts of deals being suggested. It de-risks slightly for the buyer, rather than paying all the money out up front. “Whereas five years ago you would get top price for your business and walk away, in times like these, there is more circumspection. We are looking at two or three at the smaller end of the corporate market.

“The eurozone uncertainty needs to be removed and there are signs that it is calming down. “I think that, once confidence about the eurozone is restored, people will come forward. The banks are a long way down the road of sorting themselves out. While I am not wildly optimistic, there is scope to be reasonably confident of a slow but steady improvement.” Fed up with waiting for banks to sort themselves out, some businesses are turning to alternative ways of funding their borrowing requirements. One recent trend has seen more companies replace their bank debts with retail bonds. With low face values, retail bonds are open to private investors instead of the more usual institutional investors. Companies that have issued retail

bonds include Tesco, the London Stock Exchange and National Grid. Property developer St Modwen is currently marketing its own retail bond. The regeneration specialist is currently redeveloping Great Homer Street in Everton, the Elephant & Castle shopping centre and the former Rover factory at Longbridge, in Birmingham. It requires a minimum subscription of £2,000 and the bonds are available in tranches of £100 thereafter. They can be traded on the stock market. A spokesman for St Modwen said: “They have become popular over the last year or two. “For St Modwen, it’s about diversifying debt. You can get longer maturities than are available with banks at the moment.” Bank facilities are typically

THE BIG FEATURE

life it’s not the cost of money that’s holding people back; it’s more their lack of confidence in the wider market and the eurozone – Lloyds Banking Group area director for Merseyside, North Wales and West Lancashire, Tim Rigg

renewed for two to three years at a time, while retail bonds can run from seven to ten years. St Modwen’s bond will pay an annual rate of 6.25%, which is significantly better than the rates savers can obtain from bank deposits at the moment. The spokesman added: “They typically raise £50m to £100m, whereas institutional bonds need to raise more like £200m to £300m. “Retail bonds move your maturities out a bit further, though St Modwen doesn’t have anything due until November, 2014. “These can suit a property firm because of the time frames involved. “St Modwen is a longer- term business, so longer-term finance works for them. “St Modwen has £1.1bn in its portfolio and it will stay within a loan to value ratio of 75%.”

Corporate financiers hail benefits of private equity

Small firms are missing out on viable line of funding, say experts MERSEYSIDE businesses serious about growth need to open their eyes to private equity funding and put aside the “myopia” which surrounds sharing equity. That was the verdict of business leaders who attended a breakfast event in Liverpool to discuss the funding routes available to small firms. The round table, hosted by law firm Brabners Chaffe Street, its corporate finance arm, Brabners Stuart, and stockbrokers, Charles Stanley, featured speakers from a range of banks, private equity houses and the city’s new Mayoral Development Committee, as well as a clutch of business owners. Private equity has gained an unwelcome tag in some quarters, thanks largely to high-profile deals such as Southern Cross, where asset stripping and financial engineering were prevalent, and TV shows such as Dragons’ Den, which depict entrepreneurs battling to retain control of their equity share. The reality of private equity is very different, however, according to Paula McGrath, partner at Brabners Stuart, who says that it can be an ideal route to investment with management and support for entrepreneurs, owners or management teams aiming to transform their business. Ms McGrath said: “Private equity has wrongly earned a bad name and for some Merseyside entrepreneurs it’s a no-go area from the very outset. “In reality, the aim of almost every private equity house, especially those operating in the SME sector, is to identify high-potential businesses and support them in reaching their goals, thereby reaping financial rewards for all concerned. “We’ve seen the impact of private equity investment into the region on countless occasions, notably with the work of organisations like 3i from the 1990s onwards. “If we are to push forward and regain commercial traction, private equity may be the only viable way forward for many businesses. “If you have a business under your management or ownership and you want it to grow successfully, then you overlook the benefits of private equity at your peril. “There is a definite myopia towards

Paula McGrath – says private equity can be an ‘ideal route to investment’ equity sharing and Merseyside entrepreneurs seem to find it particularly difficult to part with a stake in their business. Yet they need to ask themselves whether they’d prefer to have a considerable slice of a tiered cake, or a few morsels all to themselves.” Iain Wolstenholme, partner at Gresham Private Equity, echoed that sentiment, adding: “It’s vital that the incumbent management team is comfortable with their new investment partners so we nurture relationships over months and

years before reaching any agreement. We certainly don’t approach businesses armed with piles of cash and haggle away their equity. “Private equity is distinct from any other type of investment, in that the investee business can access invaluable insight and advice from a range of experts in their own fields, whether it’s marketing, finance or distribution.” ■ THE Brabners Stuart seminar was just one in a series the firm is holding for the SME sector.

Equity and loan funds providing cash for NW SMEs EQUITY funding is available in a variety of forms for small firms in Merseyside and the North West who are looking for investment. Merseyside Special Investment Fund (MSIF) began investing in SMEs in 1996, using a mixture of European Regional Development Fund and investment from the private sector. It ploughed £138m into around 1,400 businesses across Merseyside.

Its original funds closed in 2008, but now it is using the returns from those investments to continue to provide cash to businesses with growth potential. In November, 2010, it launched its £25m legacy fund – the Merseyside Loan & Equity Fund. The organisation currently provides investment and loan funding up to £2m to businesses in Merseyside. Its latest investment was

to a dental laboratory in Knowsley called Thermadent, which is an orthodontic products manufacturer. Thermadent has received a £2,000 loan from MSIF. MSIF investment manager Chris Walters added: “Early-stage businesses like Thermadent are vital to the growth of the local economy.” ■ THE North West Fund (NWF) was set up at the end of 2010 to provide debt

and equity funding (from £50,000 to £2m to SMEs in the North West. The £170m fund is backed by the European Regional Development Fund and the European Investment Bank and 40% of the cash is ring-fenced for Merseyside. It is divided into six funds – development capital, business loans, venture capital, biomedical, energy & environmental and digital & creative.

THE BIG FEATURE

Cllr Nick Small, fourth from left, and David Buttle, far right, Chair of the Merseyside Chapter of Credit Unions, meet credit union representatives in Lodge Lane

Credit unions backing businesses

Picture: GARETH JONES

Alistair Houghton on how a council investment could help hundreds of small firms CREDIT unions are most often associated with personal finance, rather than business – but a new Liverpool partnership is looking to change that. Liverpool City Council is giving £300,000 to a consortium of city credit unions so they can lend to sole traders and micro-businesses who would otherwise find it tough to get funding. The credit union plans are designed to provide “new and affordable loan products to local businesses”. As the loans are repaid, the money will be loaned out again to other businesses – meaning the scheme will be lending a total of £1.1m over its lifespan. The aim is that the scheme will support 620 businesses and safeguard 140 jobs. Cllr Nick Small, cabinet member for employment, enterprise and skills, said: “This is new and it is very innovative. “The law changed in January so that corporate entities can become members of credit unions. “If you’re a limited company,

you can now become a member. These are going to be microbusinesses. “It’s going to be start-up businesses who need a few hundreds or thousands of pounds for working capital, or to buy a van, or to buy ladders or to set up a website. “There’s nothing specifically out there for businesses like that. And there’s no shortage of businesses out there.” Five credit unions are involved in the business project – Norris Green, Lodge Lane, Riverside, Partners and Central Liverpool. The project will link in with Liverpool Vision’s support programme for small firms. “We think we can bring together the expertise in the credit unions with the expertise in Liverpool Vision,” said Cllr Small. And, if successful, he hopes the council will be able to leverage more investment to continue the project and expand its reach. He said: “What we’re looking to do is to develop a Community Development Finance Institution

(CDFI), which is a tax-efficient vehicle. “There’s a lot of players out there, such as Big Society Capital and Triodos Bank, who are involved in CDFIs. It’s a very attractive form of funding. “We could look at that as a next step if we wanted to bring the five credit unions together to develop something for the whole city. We could bring in about five times the amount of initial funding because we could get all kinds of match funding. “We think there’s a need for this. But we don’t want to run before we can walk.” Looking further ahead, Cllr Small says other private companies could be willing to invest in such credit union-led funds as they look to showcase their corporate and social responsibility (CSR) credentials. He said: “We can look at how we can get established businesses in the city to invest in credit unions like the city council has done. “Any company can become a member of a credit union as part

of their CSR. That will grow credit unions in the city and grow new enterprises. “The reason we have deprived communities is because we haven’t got economic activity. This will generate that activity.” One recipient of a credit union business loan is Sarah Cowan, who secured £1,500 from Riverside Credit Union in 2005 to set up an out-of-school club offering breakfast, after school and holiday care for pupils at Hunts Cross Primary School. Her Out of School Kids Club UK has now expanded in to Much Woolton Catholic Primary School. Ms Cowan, who employs nine staff looking after 150 children, took out another loan from Riverside when expanding the business in April. She said: “The terms offered by a credit union are much more flexible and favourable than those offered by the banks. “It is also a lot easier to arrange than going in to see the branch manager.” The business project is part of a

wider city council initiative to develop credit unions. As well as the £300,00 for businesses, the council is offering another £700,000 in grants to a consortium of seven credit unions – the five involved in the business project plus Enterprise and Knowsley Mutual credit unions. That money will be loaned to individuals and families. The council says the aim is to help more than 20,000 people who might otherwise be forced to turn to loan sharks or other sources of credit with extremely high interest rates. The council estimates that its total £1m investment will lead to £3m of money being spent as loans are recycled. Announcing the scheme last month, Deputy Mayor, Cllr Paul Brant, said: “This is a pioneering initiative which will help and support the most vulnerable in our community who are being hit by a triple whammy of rising unemployment, increased costs for food and fuel and cuts in welfare benefits.”

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PROFESSIONAL SECTORS

ASK THE

EXPERT

With Peter Mooney, head of employment law at ELAS

WE HAVE a member of staff who has been on long-term sick leave due to stress for five months. While we have told them that we are absolutely prepared to help them gradually return to work, the employee has made it clear that they still don’t feel able to come back. We are only a small business and this is a major drain on both our resources and staff morale, and the situation doesn’t look like it is going to change. We feel that the time is approaching to begin implementing capability procedures, but we are worried that this will put the company in a vulnerable legal position. What are our options?

THERE remains a certain amount of confusion around enacting capability procedures in the case of staff who are on longterm absence. There is no statutory defined period of time after which employers can implement capability procedures in these cases, which means each one must be assessed on an individual basis according to medical evidence. As a business, you are required to conduct a reasonable investigation into an employee’s ill health, with the first step to request a doctor’s report that outlines the employee’s condition and fitness to return to work. This can only be done with the employee’s permission under the Access to Medical Records Act. Subject to the details contained in the report, it may then be necessary to request an occupational health report, which will assess the impact of the worker’s health on their employment.

The worker is within their rights to refuse access to their doctor and decline to participate in the occupational health assessment, in which case you can only act on what you are told. Based on the information you are able to access, if you feel that there is no chance of your employee returning to work after six months, then there could be reasonable grounds for a capability dismissal. It is very important to ask the doctor if the condition falls under the definition of a disability, which transforms the issue from capability to equality. If the employee is considered to have a disability and the business is able to make a reasonable adjustment to enable them to continue in their current role, then this is something that you must seriously consider. One main sticking point in these cases can be depression, where the medical term differs greatly from the legal definition. The line is often blurred between depression that arises as a result of the employee’s immediate situation and clinical depression – a defined medical condition. In these cases, it is vital that you take legal advice regarding what can and cannot be considered a disability. Should the employee return to work, it is important to follow through on your offer to make adjustments to take their illness into account. This can come in the form of suggesting lower targets of achievement, or providing a period of adjustment for them to improve. ● FOR further information or advice, call the ELAS Advice Team on 08450 50 40 60.

Confusion exists around enacting capability procedures

■ IN ASSOCIATION with ELAS

IN ASSOCIATION WITH

Education unit in

Mitchell Charlesworth enhances specialist division to LIVERPOOL accountancy firm Mitchell Charlesworth has expanded its education division in response to the emergence of free schools, studio schools and the growing numbers of academies. It comes as a result of a collection of new contract wins, including the newly-formed free schools Harmonize Academy in Anfield, and Sandymoor in Runcorn. The revitalised division is being led by partners Philip Griffiths, Paul Booth and David Antonia, who will be working across Mitchell Charlesworth’s offices situated in Liverpool, Manchester, Chester, Warrington and Widnes. The unit will provide a business and financial support package, tackling a range of issues including payroll, VAT, auditing and budgetary processes. Liverpool-based partner, Philip Griffiths, who has more than 25 years’ experience in audit compliance, said: “We have previously worked with a number of independent and voluntary aided schools, but in recent times we have seen a large number of local authority controlled schools converting to academies and the emergence of new free schools. “These organisations have sole responsibility for managing their finances. “Our role is to ensure they manage these responsibilities efficiently, effectively and with due diligence. “We also want to provide specialist business advice to encourage sustained growth.” Mr Griffiths added: “Mitchell Charlesworth can offer support in a number of areas outside the main auditing and payroll services. “This includes the Responsible Officer Work, which involves quarterly financial control checks working alongside governing bodies. “Further services include setting up accounting and internal control systems to enable schools to report efficiently to the Department for Education.” Mitchell Charlesworth also offers support with VAT issues, the use of commercial entities to support income generation, guidance on budgetary processes and business planning, and the audit of returns to the Teachers Pensions Agency. Mr Griffiths said: “Schools, colleges and academies have a specific set of financial responsibilities which require expert attention. “It can be a complex and daunting task to ensure compliance with all of today’s rules and regulations. “We can lift this burden by providing a complete financial solution with expert business advice and guidance.”

The Liverpool Lighthouse Harmonize Academy; and, inset, below, right, Mitchell Charlesworth partner Philip Griffiths, who is leading the revamped division

IN ASSOCIATION WITH

expansion move

PROFESSIONAL SECTORS

cater for growth in free and studio schools and academies

Coutts’ UK chief investment officer, Alan Higgins

Coutts switches focus to equities

TOP people’s bank Coutts is moving to switch its investment focus to stocks and shares. The Queen’s bank, which has a branch on Liverpool’s Princes Dock, said the flow of macro-economic data is moving increasingly in favour of equities and against investment grade bonds. Equity markets remain out of favour with many investors, despite the rises seen in many markets this year, while the search for yield in bond markets appears to be an overcrowded trade. The bank says, although many investors believe bonds provide a safe haven, in the current volatile economic environment there is a higher than understood probability of negative returns from bonds in the future. Coutts’ UK chief in-

vestment officer, Alan Higgins, said: “Our confidence in equity markets has steadily increased. “In response to this, we are gradually reducing our exposure to cash by 1.5% and 1.5% investmentgrade corporate bonds to buy 3% in global equities, with a preference for Europe – selectively. “While there is no guarantee of future performance, returns from bonds have historically become negative when bond markets returns are as high and yields as low as they currently are.” Mr Higgins added: “If the positive global economic data flow builds momentum, and Spain accepts help from the European Central Bank and the US politicians manage to avoid the fiscal cliff, equities could do very well.”

COMPLEX ISSUES COMMENDABLE SOLUTIONS With comprehensive services in all areas of law, unrivalled expertise in our chosen sectors, and a reputation as a â&#x20AC;&#x2DC;formidable forceâ&#x20AC;&#x2122;* in our region, we have the knowledge and experience to take care of any legal issue, no matter how complex. Grow, develop and protect your organisation with tailored legal advice from Hill Dickinson. Contact Bill Doherty via email: bill.doherty@hilldickinson.com

*Chambers & Partners 2012

THE BIG INTERVIEW

The regeneration game BY ALISTAIR HOUGHTON

▲ ▲

How John Downes is helping Langtree stride ahead by working on three of the region’s biggest developments John Downes visits the restored Garden Festival site, in Liverpool Picture: JASON ROBERTS

THE BIG INTERVIEW . . . JOHN DOWNES CONTINUED FROM PAGE 17 N THESE toughest of times, it’s rare to meet a smiling developer. But John Downes likes to do things differently. As managing director at Langtree, Downes oversees three of the most prominent development sites in the region. At the former International Garden Festival site, on Liverpool’s waterfront, Langtree has restored and reopened the gardens and is now planning a residential development on the rest of the land. Newton-le-Willows-based Langtree is leading plans to expand the Enterprise Zone at Sci-Tech Daresbury, potentially creating thousands of jobs. And, in St Helens, Langtree has already built a new stadium for St Helens rugby league club and a massive Tesco. Now, it is working on plans for another 15-acre plot of land next door. The road to success hasn’t been smooth. The St Helens project took years to complete, while the Garden Festival project was hit hard by the collapse of housebuilder David McLean. But Downes, who started his career in regeneration working to bring new life to the North’s former coalfields, prefers to focus on the positives. All three of his landmark recent projects have been achieved by Langtree working in John Downes at the restored Garden Festival site, at Otterspool partnership with the public sector. The company has specialised in joint ventures with local authorities and the former regional development agencies (RDAs), including the old NWDA. And, despite the deep cuts the sector faces, Downes chooses to remain optimistic that there is more growth to come. “There are more opportunities now, funnily enough, to work with the public sector,” he said, sitting in Langtree’s executive box at the St Helens stadium that bears the company’s name. “A lot of the layers have been taken out. “The RDAs did a good job – but their briefs were too broad. “They’re gone, and the responsibilities have fallen to local authorities. Not every local authority has the capacity to do that on their own. They will be looking for a partner to invest and bring their skill-sets as well. “What they’ve got to invest are assets, rather than cash. For the right opportunities, we have got the cash. We have got the experience in public-private partnerSci-Tech Daresbury, where Langtree is joint venture partner ships. “We’re certainly keen to Langtree acquired the former “The local authority was lookexplore opportunities like that.” United Glass site in 1999 and ing to the future of the town began talks with the council and centre, and how to stabilise it,” OWNES sees the St the rugby club about building a said Downes. Helens project as a stadium there as part of a wider “The town centre was at the prime example of how regeneration project. point where it needed to expand public-private partWhile the stadium would beor it would contract. There was nerships can come its best-known feature, it very little room for it to expand. transform communities. was the Tesco superstore that was “The most obvious place for it “All too often, people talk about key to the whole project. to expand was the small Tesco partnerships,” he mused. “It’s the “All of these things need to be store that existed in the town most overused expression in recross-subsidised from something centre. Moving Tesco would allow generation – ‘our partners’ this, or other,” said Downes. the town centre objectives to be ‘our partners’ that. “The cross-subsidy here comes met, and a by-product of that is “But you’ve got to get the right from the Tesco. That was the that it allowed us to create the partners. With regeneration, you can’t do it on your own. You’ve got rationale for Everton’s (proposed) cross-funding for this. new stadium, and Warrington’s “We also needed additional to get the right partners who are rugby league stadium.” financial support, which came there for the right reasons. As well as supporting the from the RDA in part and the “We were partners with the building of a stadium, the new local authority in part.” club and the council on this Tesco would also help St Helens Bringing all those parties project. There were some testing Council achieve its wider together, and ensuring the times, but everybody stuck to the ambitions for the borough. relevant planning permissions, same plan.”

D 18

took years, much to the frustration of St Helens fans. But the stadium was completed in October last year, after a 15-month build. “To be honest,” Downes says now, “sometimes I wonder what we were doing for some of that time. But it was never as if there were quiet periods. We were always working on it.” The stadium has been warmly welcomed in St Helens – even though the rugby team’s form has dipped since it moved in. Downes says he is pleased that the stadium is busy all week long. “Often when I come here,” he said, “most of these rooms have people in them having meetings. “The transformation here is in non-matchday activity. It only gets used for games on 13 days a year,

and you cannot survive off that income.” Langtree now needs to consider what to do with the remainder of the United Glass site. Phase two is the 15-acre area of vacant land, surrounded by Langtree-branded fencing, that sits across the road from the stadium’s main stand. “It’ll be something that complements the stadium and the existing retail that’s on the site,” said Downes. The Langtree boss is chatty company, but measures his words carefully and, no matter which project he talks about, is wary of looking too far into the future. “The market is quite flat,” he said when pushed on phase two. “We’re not going to rush it. “We’re going to look at what

THE BIG INTERVIEW . . . JOHN DOWNES

John Downes at Langtree Park, the stadium in St Helens built by his development company, Langtree Picture: GARETH JONES

ago. To be fair, at Langtree, we said to the local authority that we would restore the garden and then turn our attention to the development. We’ve done that. “There’s been a few twists and turns. But we’ve delivered what we said we’d do – we’ve restored the gardens and opened them to the public, free of charge. And we’ve put in place a regime so that we don’t have the same thing happen as last time. “Now we can turn our attention fully to the development of the balance of the site for residential.” Downes says Otterspool remains a “cracking site” for housing, with its waterfront location and easy access to the city centre, and says the company will take its time over the next phase. “The planning permission for the site was secured back in 2008. “Now we have completed the gardens, we’re now looking at that planning consent to see if it’s still market-facing, and if any amendments need to be made to the layout. “Then we will look at potential partners – housebuilding partners – in due course. “We’re in that process now where we’re looking at the detail and suchlike. We’re confident. “The housing market is less buoyant than it was, but it’s a good site. “It’s not going to happen over the next month or two. But I’d like to think that in 12 months from now we’ll see some activity on the site.” ARESBURY’S concrete tower has long been a Cheshire landmark – and now its neighbouring science campus is becoming a North West business landmark. Sci-Tech Daresbury, formerly Daresbury Science and Innovation Campus (SIC), is home to dozens of small hi-tech firms working alongside the Science and Technology Facilities Council (STFC)’s 50-year-old Daresbury Laboratory next door. Almost 1,000 people now work across the site. Langtree became the joint venture partner in the campus in October, 2010, alongside a public sector consortium of Halton Council, the STFC and the NWDA. “Prior to our involvement,” said Downes, “the NWDA had invested something like £60m in the campus. They’d taken it to a point where they wanted the private sector to get involved to continue that development.” Daresbury Innovation Centre (DIC) houses more than 100 companies, working in areas from medicine to IT and hi-tech manufacturing. “The key with DIC,” said Downes, “is putting the private sector next to the STFC facilities so they can get the collaboration and added value of being next to the laboratories. “That’s clearly working. They operate a very strict gateway policy for the occupants of that building to make sure they’re from a science or innovation background.” The neighbouring Cockcroft Institute, the national centre for research into particle accelerator science, is a joint venture between

options there are. It’s really very early days. “Like everything we do, we want to do it right. We are in reasonable financial shape, so we can come up with the right way to do it and not be forced into doing things for external financial reasons. “We will work with the local authority to find the right solution. It’s a very big site.” A cluster of busy, occupied industrial units near the stadium is also owned by Langtree. “That would be, ultimately, phase three,” said Downes. “But there’s not even medium-term plans for that.” Langtree’s board was so pleased with the St Helens development that it bid for – and won – the naming rights to the new ground.

“We thought that, by taking the naming rights, we would have a continued association with this development,” said Downes. “We’d be more prominent for longer. And I think it’s worked well.” IVERPOOL’S International Garden Festival, in 1984, saw a 90-acre waterfront site transformed into a garden paradise that attracted hundreds of thousands of visitors. But once the festival closed, most of the site was simply left unused. The Pleasure Island complex used part of the site until the mid-90s but, by the time Langtree bought it in 2004, the whole site was derelict. Langtree teamed up with Deeside housebuilder David

McLean to create a plan for the site that included the restoration of the gardens and the building of 1,308 flats and 66 town houses. But the project was delayed when a public inquiry was called after some residents objected. “We didn’t really anticipate the public inquiry, to be honest,” said Downes. “When we got involved, the site had been derelict for all those years. “We did it in the knowledge that we were going to work in partnership with the local authority, with the restoration of the gardens and the cross-subsidy (from the housing) to the benefit of everybody.” And then, in October, 2008, David McLean became one of the highest-profile casualties of the recession when it collapsed into

administration. Langtree, however, soldiered on with the rebuilding of the former garden areas, including the lavish Oriental gardens. Even that project was delayed when, in July last year, contractor Mayfield Construction collapsed, forcing Langtree to recruit a new builder, Tolent. And, in February this year, Groundwork Merseyside – which had been appointed by the Land Trust to oversee the running of the gardens – also collapsed. The Land Trust itself is now managing the site. But Downes again refuses to dwell on the negatives. “We had the public inquiry in 2008,” he said. “The market was quite different to where it is now, or even where we were two years

CONTINUED ON PAGE 20

THE BIG INTERVIEW . . . JOHN DOWNES CONTINUED FROM PAGE 19 the universities of Manchester, Liverpool and Lancaster. It has helped Daresbury forge links with universities around the UK. When Langtree arrived, those buildings were complete and work was under way on Vanguard House, a home for companies too big for the DIC. The first challenge for the joint venture was obvious – what happens to firms that outgrow Vanguard? “The other challenge,” added Downes, “is trying to attract inward investment from mature companies that work in this field that can benefit from the collaboration and the attraction of being next door to the STFC facility.” In 2011, Downes and the SciTech Daresbury team unveiled plans to create a “technology village” around the campus – and said the project could attract as many as 15,000 hi-tech jobs. Those plans won another boost in August last year when, on a visit to Daresbury, Prime Minister David Cameron said the site was to become one of the Government’s Enterprise Zones. And, just last week, the campus was awarded £10m from the Regional Growth Fund to support its growth plans. “We had no knowledge of the Enterprise Zone initiative when we got involved,” said Downes. “But what Enterprise Zone status has done is accelerated the development process. “The Government has been quite careful to get the balance right in terms of Enterprise Zones so they don’t get businesses moving from location A to location B for tax breaks. “They haven’t been targeted at market failure areas. They’ve been given to areas that have growth but where Enterprise Zone status would accelerate that growth.” Enterprise Zones benefit from simplified planning procedures and Government support for super-fast broadband. Local authorities can retain any additional business rates gathered in those zones and use the cash to fund economic development, while companies that move there get business rate relief. Langtree is now preparing to put infrastructure in place, in line with the masterplan for the site, so building work can start quickly once investment comes in. But, again, Downes is wary about predicting when the first companies might move to Daresbury. “There’s been an awful lot of interest in Daresbury,” he said, adding cautiously: “I wouldn’t say that’s going to materialise in the next few months in announcements that X or Y business is coming to the site.” Downes prefers to talk about a 15-year development plan for the site. He said: “As more development takes place, the take-up here will increase exponentially as we create that science and technology centre of excellence. “We have a phasing plan rather than saying ‘we’ll build this building then this building’. That will be driven by investor requirements. “We wouldn’t have put money in if we hadn’t been confident. And that confidence is increasing.”

John Downes, left, walks Sir Terry Leahy and Lord Heseltine through the restored Festival Gardens, at Otterspool Picture: JASON ROBERTS OWNES honed his skills at property development and regeneration on some of the biggest redevelopment sites in Britain – the former collieries that closed in the 1980s. After working at British Coal, he moved to English Partnerships before becoming senior development manager at Amec. But, in 1997, he was asked by Langtree to become its development manager. “They had a small property portfolio,” Downes recalled, “but they didn’t have a development capacity yet.” Downes joined the board in 1999 and became managing director in 2001. Bill Ainscough, who founded Langtree in 1982 and still owns it, today chairs the business. Asked how he has helped to change the business, Downes said simply: “Profile”. “Clearly it’s a bigger business,” he added. “It’s a much bigger business – it’s five times the size it was in net asset value terms, even now. “We’ve got approaching 70 staff. We had 10 or 11 when I joined. “We have developed the development side of the business, we’ve worked very hard to improve the property portfolio, and we’ve worked to develop a regeneration side to the business that didn’t exist.

“I’d like to think we’re now established as a regeneration company of some repute.” Langtree boasts a property portfolio stretching across the North West, North East, Yorkshire and the West Midlands. “It’s targeted at SMEs,” said Downes. “That’s performing very well. We’re at mature levels of occupancy across the portfolio. “Between what Langtree owns directly and what has gone through joint ventures, we’ve got over 3m sq ft of property there. We’re at 90% let.” Langtree is involved in three property-related joint ventures with the Homes and Communities Agency (HCA) – Onsite North East, PxP West Midlands and Network Space, which has redeveloped former coalfield sites across England. Not every Langtree project has gone according to plan. Just last month, plans for Langtree to redevelop a landmark site in Bradford city centre were scrapped by the HCA. Langtree had been due to demolish a former Odeon cinema and build apartments and a hotel in its place. But, in a statement last month, Downes said Langtree felt unable to sign up to a planning agreement that would have only given it just eight months to create a viable scheme for the site. He said: “It is totally incon-

ceivable that we could fit the whole cycle of marketing, attracting interest and then awarding a new building contract within the eight-month period which in turn would have meant that we’d be demolishing the (cinema) building without its redevelopment having been secured.” But Downes is convinced there is strong pent-up demand for new commercial developments across the UK – and believes Langtree is well placed to meet that demand. He said: “The group is in good financial health. Gearing levels are low. There is significant headroom for additional borrowing in place. We’re in a good position. “The market is not that buoyant. But we’re certainly on the look-out for new opportunities, whether that’s investment or development opportunities. “The recession has been hard for us, as it has been for everyone. Development activity has been severely curtailed. “But our property portfolio is aimed at the SME market, with shorter leases and flexible terms – and that is the kind of accommodation that companies look for in a recession. The performance of the property portfolio has been quite resilient. “Thankfully, we’ve had a number of development opportunities that we’ve

continued to work on, such as this,” he said, gesturing at the Langtree Park room. “Also, we weren’t really caught holding a lot of development opportunities that we acquired at the top of the market. We decided prior to that that the market was getting too hot, and we stepped off. “That’s put us in a good position now to start the whole development process again. “It’s been hard, but we’ve coped with it.” Downes’ primary aim may be to make money for Langtree. But, in his understated way, he is clearly proud of the business’s regeneration work. He said: “At the end of the day, first and foremost, Langtree has got to make a profit. That’s what this business is about. “If we can do that and make changes like this,” he said gesturing at the Langtree Park pitch again, “then that’s satisfying. “I come here to watch the game. People just turn up to watch the match, and don’t turn around like me and say ‘I remember that bit or that bit’. “It’s the same with the Garden Festival. I saw all that to-ing and fro-ing, and now I can just stand there and see people who don’t need to know the background just walking around the gardens. It is very satisfying.”

ECONOMIC DEVELOPMENT

World-class destination

Liverpool’s commercial quarter is now a Business Improvement District (BID). TONY McDONOUGH reports on how the area is being transformed

▲ ▲

The recently-completed Number 4 St Paul’s Square

ECONOMIC DEVELOPMENT LIVERPOOL COMMERCIAL DISTRICT BID Ged Gibbons, pictured in St Paul’s Square, is now overseeing the work of both the retail and commercial BIDS; and inset, left, David Guest

CONTINUED FROM PAGE 21 ONCE hugely popular, the Starbucks Coffee outlet on the corner of Liverpool’s Castle Street and Water Street will very shortly be closing its doors for the final time. It has been packed out for years with the “suits” of the Liverpool Central Business District (CBD) – but it has reportedly struggled in recent months to generate enough revenues to justify staying open. It might not be unreasonable to suppose it is yet the latest victim of a vicious recession – but the truth is probably not quite that simple. What it almost certainly represents is the changing nature of the CBD – in particular, the shift in its centre of gravity from the Castle Street/Dale Street area to Old Hall Street a few hundred yards away. The last five years or so have seen a huge amount of

activity around Old Hall Street. Rumford Investments built 160,000 sq ft of Grade A office space at 20 Chapel Street – English Cities Fund has created even more than that at St Paul’s Square. Downing and Bruntwood have embarked on major refurbishment programmes at The Capital, The Plaza and the Cotton Exchange while UK Land and Pochin have brought Exchange Flags back to life. This has led to an exodus of professional firms, including law firms DWF, Hill Dickinson and Weightmans, from the old CBD to the Old Hall Street district. That is not to say Dale Street and Castle Street are abandoned – far from it. Occupancy levels remain healthy in the context of the economic environment and property owners have spent money on refurbishment.

But Old Hall Street is now very much the centre of the CBD, which is not just shifting but is also getting itself a real voice. Early last year, the 700 or so businesses in the business district were balloted on a proposal to create a Business Improvement District (BID). The BID model, under which members pay a small levy on top of the business rates, was already up and running in Liverpool’s retail district and Paul Rice, chief executive of the then Liverpool Commercial District Partnership (LCDP), pushed forward the proposal. The businesses, who between them employ more than 70,000 people, voted in favour of the BID and the LCDP became the Liverpool Commercial District BID. The levy they pay now totals almost £500,000 a year and goes

towards making the area “cleaner, greener, safer and more vibrant” by improving the public realm. The BID also has a wider remit to promote the district to inward investors. Sadly, Mr Rice died in January after an 18-month battle with cancer (see Page 24) but there are plenty who knew and loved him who are determined to continue his legacy. Following Mr Rice’s death, Ged Gibbons, already chief executive of the retail district BID, was appointed interim chief executive of the commercial district BID. In an interview with the Liverpool Post earlier this year, Mr Gibbons, a long-standing friend of Mr Rice, said the formation of the BID had the potential to take the BDO onto a whole new level. “The CBD accounts for 40% of the city’s economy and that is a very powerful lobbying voice,” he

said. “There is a great mix of businesses here. Yes, we have the big professional outfits, the corporate law and wealth management firms, and we also have a range of smaller businesses – shops, restaurants. “What has been created here is a sense of fraternity, where the big businesses will look after the interests of the smaller ones.” In the last few weeks, the BID has held an event to launch its annual report. Accounts show total income for the BID came in at just shy of £475,000 and in the document it listed some of the milestones of the past 12 months. These include: ● The £3m refurbishment of Castle Street; ● The Commercial Office Market Review which was distributed to 34,000 property professionals; ● Both supporting and participating in the Downtown

ECONOMIC DEVELOPMENT LIVERPOOL COMMERCIAL DISTRICT BID

ENTERPRISING

THOUGHT

With Fiona Castela, project manager at Enterprise Europe Network North West I OWN a small company that designs smart phone applications and mobile websites. We are looking to expand our services into European markets, but I don’t know where to start in finding partners and new business opportunities. Can you offer any help? THERE are many ways you can secure routes to market in Europe, through sales agents, distributors, subcontracts or joint ventures. It can be one of the hardest decisions to make when considering trading abroad, and can have a big effect on how your company is represented overseas. Some businesses opt to sell direct from the UK, while agents act as an overseas sales force acting on your behalf. On the other hand, a distributor will buy your product from you, taking control of the strategy after that. The important thing is to look for a partner that will add value to your export strategy, and which matches your company well in terms of their expectations and scope. Large organisations can afford to pay for consultants or advisers that will seek out potential trading partners, for them, but for small businesses looking to trade with Europe for the first time, the prospect of building relationships, drawing up terms and fees and signing agreements can be daunting. There are a number of key criteria you can look out for though. Firstly, their geography – it sounds basic but find out if they cover the geographical area you need. Ask them about their track record of working in that particular country – an understanding of the legislation and, of course,

language is vital. Look also at the products they currently work on and see if there is a good fit with your own. Ask them, too, about whether they can provide market research to feed into your sales forecasts. Help is also available in the form of business databases. Whether you are looking for distributors in certain countries, or simply want to know where the demand for your services is high, business databases can help you find suitable partners and potential leads based on your trade requirements, technology capabilities or manufacturing needs. At EENW, we offer free access to a Business Cooperation Database (BCD) that contains more than 14,000 company profiles and business opportunities. Through the database, companies can search for the agent or distributor which best fits their needs, browsing by country of origin, sector, area of expertise and much more. All the profiles displayed on the database have been entered by EEN colleagues in offices throughout Europe, creating a huge market of opportunities for local businesses. We can even publish your profile on the BCD so that others can find you. ● TO FIND out more, visit www.eenw.org or call 0844 259 8571 to speak with an adviser.

‘Look for a partner that will add value to your export strategy’

Castle Street, top, has undergone a £3m refurbishment – but Old Hall Street, above, has very much become the centre of Liverpool’s commercial district over the past couple of years

Liverpool in Business It’s Liverpool in Business conference and the Medicash Fit for Business conferences; ● Providing resources alongside Liverpool Vision and Professional Liverpool to look at the staging of a special event in London aimed at attracting new occupiers to the district; ● Staging the first stakeholder meeting to discuss super-fast broadband and enlist the support of levy payers; ● Started working with Liverpool Vision on a £1.5m application for RGF (Regional Growth Fund) Round 3 programme monies to improve areas of public realm within the BID area. During the year, the BID also welcomed Paul Levy, of Philadelphia Central, who addressed the DLIB conference and was quoted as being impressed with the progress made in Liverpool.

“It (Liverpool) is a fascinating city full of contrasts and colour with a unique blend of old and new. “Both BIDS have played a highly visible role in animating the city. “It was great sharing the success BIDs have brought to the USA and Canada with Liverpool’s business community. “Great progress has been made already and I have no doubt that BID status will make a big difference to the Commercial District in Liverpool.” The launch event was addressed by Commercial District BID chairman, David Guest, who heads up Bruntwood’s operation in Liverpool. He told those assembled: “The last year saw us undertake a whole raft of activity designed to put us in a position to deliver the objectives in our business plan

and invest the £3m now available over the next four years. “These objectives focus on four core areas – environment and security, development and investment, promotion and marketing and transport and accessibility. “The revenue generated each year from the levy amounts to about £470,000 and we aim to maximise the leverage through match as far as possible. “Over the last year, through one-to-one meetings, events, forums and meetings we have worked hard to engage with as many levy payers as possible to hear their views and represent them effectively wherever we can. “I would urge you, if you haven’t already, to engage with us so that we can continue to ensure that the BID can act as a powerful representative voice for businesses.”

■ FIONA CASTELA is project manager at Enterprise Europe Network North West (EENW), an organisation funded by the European Commission to provide free and impartial business advice to SMEs in the region. ■ IN ASSOCIATION with EENW

ECONOMIC DEVELOPMENT LIVERPOOL COMMERCIAL DISTRICT BID Paul Rice continued to work tirelessly for the Liverpool commercial district right up to his death in January this year

‘Paul Rice was a remarkable man

who had a pioneering approach’

THE transformation of Liverpool’s Central Business District (CBD) over the past few years has been a genuinely collaborative effort. Both public and private sectors have been instrumental in the progress made. But when such transformational change takes place, there are so often key individuals whose dynamism and vision help drive things forward. Paul Rice was one of those people. In January this year, the chief executive of the Liverpool Commercial District BID lost an 18-month battle with cancer at the age of 54. Following his death, a stream of people lined up to pay tribute to a man whom they regarded as not just an inspirational business leader, but also a friend.

The consensus was that in Paul we had lost one of the good guys. He grew up in Hunts Cross and studied modern English at the University of Wales, in Cardiff. He had originally wanted to become a journalist, but was put off by tabloid sensationalism. In his 20s, he joined the public relations department at Liverpool City Council and in 1994 he became town centre manager of Warrington. In 2001, he returned to Liverpool to become its city centre manager, before going to Manchester in 2004 to become chief executive of its city centre management company. He took the helm at what was then the Liverpool Commercial District Partnership in 2006. A devoted Liverpool FC fan, he was also lifetime vice-president of

the Spirit of Shankly Supporters’ Union. He is survived by two daughters – Janine and Louise. In 2010, he was was diagnosed with MDS – a form of blood cancer similar to leukaemia. He underwent courses of chemotherapy as well as a bone marrow transplant at the Royal Liverpool University Hospital. Despite the intensive, invasive and gruelling nature of his treatment he continued to work tirelessly, successfully campaigning to secure a “Yes” vote in the ballot last year to achieve BID status for the commercial district. In July, Paul was give a posthumous lifetime achievement award by the Association of Town Centre Managers (ATCM) at its annual ceremony at the University of Bristol.

He was a former ATCM board member and a well-known figure within Business Improvement Districts across the UK and abroad. Martin Blackwell, chief executive of ATCM, said at the ceremony: “Paul Rice was a remarkable man who had a pioneering approach to town centre management. “His death represented a huge loss to us at the ATCM and to the hundreds of people throughout the UK he helped inspire and support.” In his address at the launch of the BID annual report, chairman David Guest paid tribute to Paul. He told the audience: “Virtually everyone here will, of course, know that at the beginning of this year we very sadly lost the man who spearheaded the BID cam-

paign and deservedly is credited with many of the developments undertaken. “The death of Paul Rice was a huge and devastating loss for us all. “Many of the achievements you will see detailed in the annual report you have all been given are either a direct result of Paul’s vision and passion for the District or a reflection of his positive and lasting legacy. “The ATCM this year quite rightly honoured him for a lifetime achievement award. “One of Paul’s greatest attributes was his ability to relate to people and develop effective working relationships at all levels. “A partnership approach continues to be crucial and integral to how the Commercial District BID operates.”

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IN ASSOCIATION WITH

HOW GREEN IS YOUR BUSINESS?

Fletchrose groundworker Bobby Hughes, left, with Fletchrose operations manager, Bill Sargeant

A Green Print for success

Aintree building firm plays its part in creating a greener environment for Liverpool MERSEYSIDE building firm Fletchrose is carrying out a refurbishment of Athol Village Hall, in north Liverpool, as part of the city’s Green Print for Growth scheme. The village hall in Vauxhall Road sits at a key point in the project site plan, marking the beginning of what is set to become the UK’s greenest city park. Regeneration body, Liverpool Vision, is leading the project and has recently announced details of the 10-year plan. Aintree-based Fletchrose is working directly for social housing provider, Riverside Housing, under this element of the wider scheme. The Green Park is set to

establish green landscaped links between the city centre and north Liverpool, south Sefton and the waterfront. Under the initiative, new green spaces will be created by encouraging developers to integrate open areas for the wider community to enjoy, play and relax in. New planting of shrubs and trees along major routes (amounting to 10 trees planted for every resident living in the scheme boundaries), as well as improvements to viewing points, also forms part of the project. Athol Village Hall will undergo a major transformation under a £250,000 refurbishment programme that is now under way.

The hall has lain unused for eight years and, once complete, is set to become a hub for local community activity. Bill Sargeant, operations manager at Fletchrose said: “As a Liverpool-based contractor, it’s great to be part of the early stages of this fantastic initiative. “We’re now mid-way through our work at the village hall and have a team of 20-plus skilled tradesmen on site. “Work on site is progressing well and we look forward to handing over the revamped hall and developing our relationship with both Riverside and Liverpool Vision further as the Green Print scheme continues to build momentum.”

Athol Village Hall – undergoing a major refurbishment

IN ASSOCIATION WITH

A need for action

Industry leaders slam Green Deal confusion

BUSINESS leaders claim the Government is making a “dog’s dinner” of its Green Deal initiative and is not listening to British industry. The Green Deal is designed to help business and home owners to employ more green technologies in their properties. The idea is simple – install new green technology into your property with no up-front costs. People will pay back the costs through their energy bills over a period of time. But the project has been dogged with delay and uncertainty and this has exasperated industry leaders who claim investors in green technology are being scared off. Earlier this month, the Federation of Master Builders (FMB) warned that delays to work beginning under the Green Deal will hinder growth in the construction industry. The Government originally pledged that work under the programme would begin on October 1 this year, but ministers have now confirmed that this will not be happening until February next year, when the repayment mechanism is in place. However, households will be able to get their homes assessed from this month onwards and companies that want to become certified Green Deal Installers can already apply for certification. Brian Berry, chief executive of the FMB, said: “The FMB has long argued that for the Green Deal to succeed, Government must generate business confidence in the scheme by sending clear policy signals. “When agreed timeframes are not adhered to, businesses lose faith in what the Government is saying. Brian Berry, chief executive of the FMB – when agreed “This could mean that the next timeframes are not adhered to, businesses lose faith in what the time such a scheme is announced, Government is saying these businesses will be reluctant to invest in the areas of their Mr Hunt cited a CBI report “The big problem is that not business that are essential to the which predicted a “smart” green only could this be a massive Government delivering their policy approach could boost the economic wasted opportunity, it policy objectives.” UK economy by almost £20bn. would once again spook investors David Hunt, a director of He added: “It is already happenfrom engaging with other essentMerseyside renewable energy ing elsewhere the world over and ial renewable and energy firm, Eco Environments, and a we’re losing ground – and facing leading figure in his sector, is also efficiency projects.” black-outs.” Mr Hunt referred to the court unhappy with the way the Green defeats suffered by the Deal is being handled. Government in the past year over He called the Green Deal the reduction in feed-in tariff “undercooked” and said other levels available to homeowners people he had spoken to in the and businesses keen to go ahead renewables industry had described it as a “dog’s dinner”, a with solar PV installations. He added: “It is not so much the “car crash” and a “farce”. tariff levels that have had such Speaking at a recent event in London, he said: “The Green Deal negative impacts, more the was never intended as a driver for uncertainty caused in investors, from infrastructure scale to renewable technologies, that is commercial and even domesticthe role of feed-in-tariffs and the sized projects. Renewable Heat Incentive. “The battle between the “But energy efficiency is critical for homes, businesses and Department of Energy and Climate Change, who have learnt UK plc to reduce its carbon lessons from the past, and the footprint and energy use. Treasury is making everyone “The Green Deal should be the uneasy. ideal opportunity to support and “We need to see a Government address this issue, but we are listening to the industry and we facing a very undercooked policy David Hunt – we’re losing need to a Treasury seeing the becoming live and a Government ground growth opportunities.” that is not listening.

HOW GREEN IS YOUR BUSINESS?

ENERGY MATTERS David Hunt, director of Eco Environments WITH the big energy companies announcing another swathe of price rises, it is no surprise that combating their ever-mounting gas and electricity bills is now the biggest issue for the majority of businesses. According to the results of the Business Energy Barometer – published by the UK energy broker, Business Juice – one in 12 companies said they would face “catastrophic” consequences if the trend for 25% year-on-year price rises continued, while 31% said the impact would damage the way they do business. Another recent survey, this time by Deloitte, claimed that 90% of large companies had now put in place an energy reduction strategy in an attempt to combat spiralling energy costs. In the case of the manufacturing sector, Deloitte said: “Energy cost inflation is not a cyclical trend requiring a temporary response. “For some time now, manufacturers have been experiencing inflated energy costs, and higher prices are here to stay. “Structural reform is necessary, involving a step-change in thinking, process and actions with regard to energy usage.” Among the key issues the accountancy giant said organisations needed to look at were financial discipline, energy management, sustainability and workforce engagement. While the bigger companies may have led the way in starting to tackle the energy costs crisis, we are also seeing a growing number of enquiries from SMEs wanting to put in place their own energy reduction strategy. We have been working with a breadth of companies ranging from companies keen to install a small solar PV array to take advantage of the Government’s feed-in tariff incentives, through to

high energy users such as Cheshire-based temperature controlled storage and distribution specialist Cold Move which commissioned us to install 400kWp – comprising almost 1,700 solar panels – across its two sites. In the case of our manufacturing customers, many are investing in energy efficient lighting systems to help slash their bills and significantly reduce their carbon footprint. The return on investment for such installations can be as little as two years in many cases. And then there are genuinely groundbreaking projects such as Armstrong Point – the UK’s first zeroenergy cost business park, in Wigan, which has just been completed. The scheme has embraced a range of renewable energy technologies including 90kWp of Solar PV, a 6kW wind turbine, nine solar thermal hot water systems and nine heat pumps. The £2.7m development, on the old Britvic site at Swan Lane, Hindley Green, will provide nine high-specification business units where tenants will not have to pay out any energy costs. Such has been the response to this pioneering project, the company behind it is now looking to roll-out similar developments to other parts of the UK. Forward-thinking businesses – just like savvy consumers – can do a lot to combat the seemingly remorseless rise in the cost of energy. In these tough economic times, the kind of savings which are possible can help to make the bottom line look a lot brighter, while at the same time enabling you and your workforce to contribute to a more sustainable environment.

‘Mounting gas and electricity bills prove a big issue for businesses’

■ IN ASSOCIATION with Eco Environments

ADVERTISING FEATURE

Walk to School Week

Picture caption - Pupils from Much Woolton Catholic Primary school in Watergate Lane Woolton put their best feet forward in the walk to school with Jane Moore of the Merseytravel TravelWise Campaign

Merseytravel’s TravelWise campaign has supported the project for 13 years and this year over 50,000 children and their parents joined in the ‘Walk to School Merseyside’ campaign. Walk to School Week aims to create healthier, happier and greener schools by encouraging the school community to walk to and from school. It’s a great way

for families to spend time together, enjoy the walk, get some exercise and make new friends with other parents and children along the way. TravelWise realise that walking to school isn’t always an easy option, people have complex journeys to make which may involve dropping children at different schools before getting themselves to work,

all within a tight timeframe. However even parking a five minute walk away will reduce school gate congestion and still offers the ‘feelgood factor’ and health benefits of a short morning walk. Much Woolton Catholic Primary School have taken part in the Walk to School Campaign since 2007. Rachel Beckwith their Year 1 Teacher and Walk to School

Co-ordinator said: “Our school always enjoys taking part in the Walk to School projects, the children love it and it helps them start their day energised and alert. The FREE resources from Merseytravel make the week a big hit with our children and make the week really easy to organise.” TravelWise Merseyside is Merseyside Transport Partnership’s campaign to help people in Merseyside to make smarter travel choices – to walk, cycle and use public transport. Visit www.LetsTravelWise. org for more information.

F r o m 16 t h Oc t o b e r – 4 t h N ove e m b e r 2 012 Visit merseyferries.co.uk or call 0151 330 1444 for more information Follow us or like us at:

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INTERNATIONAL TRADE The Chinese delegation with Cllr Nick Small, centre, Madame Ren, to his left, and Dr Penny Attridge, left

Chinese in talks on link with Liverpool’s biomed sector Delegation meets council and North West Fund leaders to foster closer business ties A CHINESE trade delegation has visited Liverpool to explore ways of building greater ties with the city’s biomedical sector. The five-strong team from the Anhui province, in eastern China, was welcomed by SPARK Impact, which manages the biomedical arm of the North West Fund. Its senior investment manager, Dr Penny Attridge, provided an overview of the work of the fund, as well as a tour of the city, taking in Liverpool Science Park and the town hall. Led by the deputy general

director of Anhui’s technology bureau, Madame Ren, the focus of the delegation’s visit was to build stronger links with Liverpool’s biomedical community as the provide aims to develop an incubator hub in the provincial capital, Hefei, to assist UK firms entering the Chinese market. The delegation met with Chris Musson, Liverpool Science Park chief executive, Andy Snell, head of international investment at regeneration agency Liverpool Vision, and Cllr Nick Small, the city’s cabinet member for

employment, enterprise and skills, and newly-appointed chair of the Eurocities Economic Development Forum. Dr Attridge said: “We are committed to helping forward-thinking businesses in the North West biomedical sector to find the latest and most effective routes to market. “The delegation from Anhui has ambitious plans to develop its own facilities to aid the growth of biomedical technology and investment in the province, and it speaks volumes that they

approached us to discuss best practice, while engaging with the Science Park about the potential for a formal link.” She added: “They were also keen to meet officials from the city council and Liverpool Vision to discuss ways of connecting the two cities more formally. “Having that shared approach is essential for Liverpool to reach emerging markets and we all hope the visit spells the beginning of a strong relationship between the two cities in the future.” SPARK manages a £25m facility,

which is a sub-fund of the £170m North West Fund provided by the European Investment Bank and the European Regional Development Fund with the am of supplying debt and equity funding to small- and medium-sized businesses in the north west of England. The North West Fund for Biomedical was launched in February last year, and has already received more than 200 applications. It is expected to invest in about 50 businesses and has made 25 investments so far.

KNOWLEDGE ECONOMY The Gwynt-y-Mor wind farm, in Liverpool Bay, will be fully operational in 2014; inset, left, project director Toby Edmonds

Mersey firms

Wind farm industry leaders gather in Liverpool to

Robert Hough addresses the offshore conference

COMPANIES in the Liverpool city region are already benefiting to the tune of millions of pounds thanks to the growth of the offshore wind sector. That was a key message of a conference held in Liverpool in October to highlight the opportunities in the offshore wind supply chain. “UK content in the offshore wind supply chain – beyond the turbines” was organised by industry body, Renewable UK, in conjunction with the Liverpool City Region Local Enterprise Partnership (LEP). Held at the city’s BT Conven-

tion Centre, the event featured a number of speakers from the offshore wind industry, from the supply chain and from central Government. It heard from Toby Edmonds, from European energy giant RWE AG, which is building the huge Gwynt-y-Mor wind farm, in Liverpool Bay. The £2bn project is due for completion in 2014 and will be one of the biggest wind farms in the world. It will have a capacity of 576MW which will be able to supply power to more than 400,000 homes each year.

Project director Mr Edmonds told the delegates: “This will make a very significant contribution to the UK’s energy infrastructure. “We are a little bit farther offshore than we have been in the past – eight miles off the North Wales coastline in Liverpool Bay – and we are a bit deeper than we have been in the past, too – between 12 and 28 metres. “It began life back in 2003 but it got interesting in December, 2010, when the Government gave us permission to build it. “There are 160 3.6MW turbines and there are two offshore sub-

KNOWLEDGE ECONOMY

The foundation of a turbine being installed at the Gwynt-y-Mor wind farm

look to reap offshore benefit

discuss opportunities for local companies in the supply chain in wake of initial £310m deals stations and the cabling, and onshore there is also a substantial element.” RWE operates from two onshore bases – Birkenhead and Mostyn. The Birkenhead part of the operation works out of the Cammell Laird shipyard. Mr Edmonds talked about the opportunities in the supply chain for local firms. He said: “When people think of offshore wind they just think of the big turbines out at sea, but in reality they only represent 40-50% of the total cost. “Put another way, that means 50-60% of the project that isn’t

turbines offers opportunities for companies in the local supply chain.” Mr Edmonds added that so far £310m in contracts had been awarded to the supply chain both in the Liverpool city region and beyond. Companies in Merseyside and Cheshire that have benefited so far include: ● Cammell Laird, in Birkenhead for port facilities and mobilisation – worth £8m; ● IH Brown, in Warrington, for port enabling work – value undisclosed; ● CMACS, in Wirral, for marine

mammal monitoring – value undisclosed; ● Hughes Sub Surface, in Bootle, for diving services – £5m. Delegates also heard from Robert Hough, chairman of the Liverpool City Region LEP. He said it was essential the city region was equipped in terms of facilities, skills and expertise to take full advantage of the supply chain opportunities on offer. The LEP, he said, had identified offshore wind as an industry sector that offered huge growth potential for Merseyside. He added: Our challenge as UK plc and the city region is to

demonstrate our capabilities and ensure that our offer meets the industry’s requirements. “Of course, like all large portbased engineering centres in close proximity to large offshore wind farms, we would dearly like to attract the large wind turbine manufacturers to establish a base here – and we will continue to strive for that outcome. “But this industry is about far more than turbines. “The reality is reflected here in our city region. “We have companies working in areas as diverse as seabed mapping, electrical harmonics

and distribution, corrosion prevention and insurance. The key message from that snapshot is that the range and diversity of opportunity presented by the industry is huge and that many of these companies diversified into this industry, adapting their existing expertise and products.” Mr Hough welcomed the city region being designated by the Government as the sixth CORE (Centre of Renewable Engineering) area of the UK and the first on the west coast. “We are working with the Government to maximise the benefits of this,” he added.

COMMERCIAL PROPERTY Work on the construction of the Forever 21 store is now well under way, with Graham Lumberg, of McLaren Construction, inset, right, leading the project

Forever 21 bucks the trend US-based fashion retailer’s 40,000 sq ft city centre store will trade across five floors and is due

THERE is barely a week goes by without hearing yet another tale of woe from the UK’s troubled retail sector. In the wake of the 2008 financial crisis, a number of high street stalwarts have fallen by the wayside. Woolworths, MFI and Zavvi were just a few of the big-name casualties, and, in the last few weeks, JJB Sports has also given up the fight. However, despite the vicious

economic climate, Liverpool city centre has been holding its own. A remarkable feat when one considers that, in previous recessions, the city was often among the hardest-hit. The completion of the £1bn Liverpool One development in 2008 has given the city’s retail sector an air of confidence. Such is the belief here now that US retailer Forever 21, working in partnership with site owner Royal London Asset Management, has

chosen the city centre as the location for its first outlet in the north west of England. Nicknamed the American Primark, it is due to be completed in spring next year. Work on the £25m project, on the corner of Church Street and Whitechapel, began in January this year and already the framework of the building is starting to emerge. The previous building had to be demolished to make way and a

significant piece of Liverpool history went with it. Back in the early 1960s, the building housed the office of Brian Epstein, manager of The Beatles. On January 24, 1962, John Winston Lennon, George Harrison, James Paul McCartney and Richard Starkey (Ringo Starr) all put their names to paper on a five-year deal that would guarantee them just a farthing each for every record sold. Epstein, who ran the NEMS record store

on Whitechapel, drew up the contract having been blown away by the band’s performances at The Cavern. When completed, the Forever 21 store will span five floors and have a sales space in excess of 40,000 sq ft. McLaren Construction is the contractor charged with delivering the project. Already visible is the steel structure which now extends 22 metres above the site hoarding.

COMMERCIAL PROPERTY

How the Forever 21 store will look by day and by night when completed

of retail gloom to open its doors to eager shoppers next year Over the next few weeks, 1,000 pieces of steel will be delivered and installed. “On wider construction work, good progress has been made to date, despite difficult ground conditions and the existence of structures that had been left underground. Director of McLaren Construction, Graham Lumberg, said: “This project is logistically challenging, involving the construction of a building in the

middle of one of Liverpool’s busiest high streets. “Despite this, we have worked with our concrete specialists and have managed to overcome the access difficulties of working in the centre of the live retail area by working into the late evening and starting work while most people are in bed. “The scale of work being carried out can be assessed by the amount of concrete involved – some 4,000 tonnes of waterproof

concrete has been placed in the new basement and sub-basement which extends over six metres below street level. “Working in this exceptionally busy environment has required a robust project management plan, co-ordinating our activities with those of the city centre management team and our neighbours. “We have been overwhelmed by the cooperation we have received, particularly from the adjacent market stalls and the Boots store.”

Brian Epstein with The Beatles in the 1960s

North West England

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THE NETWORKER

BUSINESS LUNCH Tony McDonough meets Martin Wilcocks, director of Liverpool’s Wilcocks & Associates IKE many entrepreneurs, Martin Wilcocks’s path to success has not always been a smooth one. The director and founder of Liverpool wealth management firm, Wilcocks & Associates, took a huge hit when the financial crisis of 2008 shook the world. Wilcocks had been riding high on the property boom, arranging mortgage and insurance products for residential and commercial markets. Said Martin: “When the credit crunch hit, it took a massive chunk out of our turnover.” But, like so many entrepreneurs, Martin, along with his brother and fellow director Robert, spent little time licking his wounds and set about reinventing the business for a new era. Now Wilcocks, based at The Plaza, in Old Hall Street, is enjoying rapid growth once again. It now provides an integrated estate planning and wealth management service, including wills and various will trusts, inheritance tax mitigation, independent financial advice and investment management services. In recent weeks, it has secured a £25,000 loan from Merseyside Special Investment Fund to help expand the business, recruit further staff and fund marketing campaigns. Employing seven staff, the business is expected to grow turnover by 300% this year and Martin believes it is only a matter of time before it breaks through the £1m barrier. “Right now, things are nonstop,” he said. “We are moving at 100 miles per hour.” We met for lunch at Pesto, at the Liverpool One retail and leisure development. The restaurant is a Tapas-style Italian restaurant facing Chavasse Park, and, although it is part of a chain, it is probably a notch above the other eateries nearby. Tapas-style menus often present a dilemma – there is a risk of ordering too much or not enough. After a brief conflab, Martin and I agree to choose three dishes each, as well as a selection of Italian breads. So, in no particular order, we opted for peroso, a fiery Tuscan stew; polpette di manzo, meatballs; patate al origano, a bowl of mini spiced potatoes; gamberoni all’ aglio e

peperoncino, sauteed king prawns; salsiccia peperonata, spicy sausage; peperoni ripieni, filled red and yellow peppers. I have been to Pesto before and the Tuscan stew is always an essential for me. The sauce is as rich and flavourful as you could imagine, and the beef is so tender it just falls apart as soon as you touch it with a fork. Try as I might, I simply cannot get close to recreating this amazing dish at home. King prawns are a particular favourite of Martin’s and he was delighted with what was served up. “The king prawns were a real winner for me,” he said. “The more chilli the better, as far as I am concerned. “I also thought the meatballs were really tasty.” A typical Wilcocks client would be someone either retired or about to retire with around £1m upwards of assets. The firm aims to offer the most technologically up-to-date service it can, so each client gets their own “real-time” web portal to store, view and manage all their investment and financial information, as well as a smartphone app providing access to the system. At the time of the MSIF investment, Martin said: “We want to blow away the image of stuffy wealth managers and bring the industry into the 21st century. “In essence, we are providing the same offering as a City firm right here in Liverpool but at a fraction of the cost.” Martin and Robert, a financial advisor, started the firm in 2005. Martin had previously worked for banking giant Barclays for 14 years in a variety of roles. “We have worked hard over the past three years developing our wealth management proposition,” he said. “It has taken a long time to get things how we want them and I am really

Pesto, in Liverpool One – offers a Tapas-style Italian menu excited at where we are right now. We have 11 different marketing strategies on the go and one of the key things we have been doing is going out on the road and organising events to let potential clients know who we are and what we can do for them.” Wilcocks has printed leaflets advertising these events and has had them inserted into free newspapers being delivered to affluent parts of Merseyside – places like Heswall and West Wirral. “We look for around a 1% response rate from the leaflets and that gives us enough people to be able to host an event,” added Martin. “The marketing strategy, which also includes social media, is absolutely key for us. “At the moment, I am handling all of that side of the operation and could really do with a hand. “That is why we are about to take on a marketing graduate and that will take our employee

Martin Wilcocks

numbers up to eight people. What we are offering people is an holistic proposition. You don’t often find financial planning and estate services being offered by the same provider. “We are fully licensed to offer both and that is a really big selling point for us.” Tax planning has become a thorny political issue in recent times with both wealthy individuals and companies being accused of tax avoidance. Martin insists Wilcocks does not offer tax avoidance services but admits it can sometimes be a fine line. One service the firm offers is helping people pass on their assets to children using trusts. However, if local authorities believe people are deliberately putting assets into trusts to avoid paying for their own care when they get older, they can potentially attack trusts through the courts. Martin says the firm is careful about taking on clients in that particular situation: “There is a line we do not cross,” he said.

“Deliberate deprivation of assets is something we will not support. When people talk to us about protecting their assets, we look at a range of issues including their age and health. “We need to know if there a possibility they may need care in the near future – perhaps within six to nine months, and if so we may advise against passing assets into trust.” Martin has big ambitions for the firm. He added: “I am very excited about our future. We are expanding into Dubai and I think we could be employing 20 people next year. And, over the next 15 years, we could have £500m of assets under management.”

DETAILS Pesto 14, Paradise Street, Liverpool L1 8JF Tel: 0151 708 6353 webaddress: pestorestaurants.co.uk

THE NETWORKER

THE BUSINESS LIST Monday, October 29

THE Employment and Skills Group is holding a series of open dates at its Liverpool office at 19 Bold Street, up until next spring, with one open day each month apart from December. After next week’s October presentation, the next open day is scheduled to take place on November 26. The events are aimed at schools, pupils, careers advisors, parents, training providers, JobCentres, community agencies and employers and will outline apprenticeship-based employment opportunities. ■ FOR further details, please phone Julie Westbrook on 0151-702 6111.

TUESDAY, NOVEMBER 13/ THE FEEL GOOD FACTOR

Tuesday, October 30 A NETWORKING lunch is taking place at Liverpool’s Thistle Hotel, from 12.15-2.15pm, organised by Liverpool Chamber of Commerce. The “Meet and Eat” event offers networking booths and structured networking sessions to boost customer contacts. ■ FOR further information on the event, please visit: www.liverpool chamber.org.uk/ events.html? eventID=3005

Tuesday, October 30 ST HELENS Chamber of Commerce has set up a free one-hour seminar for members on which health and safety strategies could affect their businesses and organisations. The Leading Positive Health & Safety event will touch on the “hot topics” that businesses will need to be aware of, and how the right approach towards health and safety can help to protect them in these challenging times. ■ FOR further information, please contact the Chamber on 01744 742000.

Wednesday, October 31 ANOTHER free seminar, this time for members and non-members of St Helens

Warrington-based photographer Andrew Collier is donating part of his portrait fees to the North West Cancer Research Fund PORTRAIT photographer Andrew Collier is inviting business people to have their pictures taken as part of a fund-raising drive for the North West Cancer Research Fund (NWCRF). The Feel Good

Factor will take place at the Liverpool Medical Institute, 114 Mount Pleasant, and will make a donation to the fund for every portrait taken. The NWCRF provides money to help fund research at the Uni-

Chamber of Commerce, entitled “Scared to Export”, will provide help for any firms eager to break into the export market.

versity of Liverpool, as well as Lancaster University, and Bangor University. Business portraits cost £125, with £15 donated to the cancer charity. Sessions start at 9am and guests are

asked to arrive 15 minutes before their appointment. Warrington-based Andrew Collier Photography specialises in contemporary business portraits. He has worked with NWCRF since 2009 and

The event will feature companies who have experience in exporting who can offer top tips, and it will also explain what help and advice is available through the Government-backed UK Trade & Investment organisation to help avoid any pitfalls and make the most of assistance for trade trips or subsidies.

Thursday, November 1

Venue – The Thistle Hotel, Liverpool

BUSINESS leaders have the chance to take on top tips from entrepreneurial expert and former Dragons’ Den star Richard Farleigh. The Australian, who was known as the “Mr Nice” of the BBC series, is the headline speaker at the Cheshire Business Expo being held at the

Richard Farleigh Macdonald Portal Hotel, Golf and Spa, in Tarporley. Mr Farleigh will speak about his own inspirational tale of

uses his photography skills to help the charity raise vital funds. ■ TO BOOK a portrait session, please contact 01925 471091 or visit www.andrew collierphotography.co. uk

rags-to-riches and what it was like to be a “Dragon” investor on the popular TV series. He will be joined by Phil Jones, head of the UK arm of multi-national company Brother, and Clive Drinkwater, North West regional director of UK Trade and Investment. There will also be networking breakfast and lunch sessions and a range of workshops, including getting to grips with Twitter, Facebook and blogs. Tickets for the business expo are priced at £45, including lunch. ■ TO CONFIRM your place and to obtain a full list of workshops, please contact Pauline Crozier on 01606 888111 or email pauline@profilecommunications. com

THE NETWORKER

ALISTAIR HOUGHTON . . . in which creatives go for gold as a Triangle becomes a quarter at the launch of Liverpool’s trendiest sheds HERE reaches a point in everyone’s life when they need a shed. And if you’re a creative with a shed fixation, then there’s a place for you in the Baltic Triangle. This month’s hot business bash was the “launch” of the Baltic Creative project to convert “crinkly sheds” around Jamaica Street into a crucible for the creative sector. The invitation called it a launch event – though, as I kept grumpily pointing out, parts of Baltic Creative have been open so long that the launch boat has not just been missed but is already on its seventh journey to Jamaica. But, in fairness, this would be the first time that I’d set eyes on the socalled Catalyst Phase of the project. I’d seen an artist’s impression of a line of sheds inside a larger industrial unit, and wanted to see more. Plus, Cains brewery was supplying the beer. I was going to walk from the office, but I was offered a lift by a trio of colleagues. In a Mini. “It’ll be OK”, I said to myself, putting myself on stand-by to start walking. “Minis are bigger than they used to be”. Well, they might be. But I still had to fold myself up, with all the elegance of a camel attempting origami, to wedge

myself into the passenger seat. We drove along Jamaica Street and I kept an eye out for a parking place expecting, as on previous visits, that finding the right bit of Baltic Creative might prove a puzzle to match Rubik’s Magic. I was very, very wrong. It turns out that the latest phase of Baltic Creative includes a striking entrance onto Jamaica Street itself. No more are Baltic Creative tenants hiding their lights under bushels, or at least hiding their talents inside corrugated iron sheds with little Baltic Creative signs on the sides. Instead, the tenants of the Catalyst Phase now share a glass atrium whose lights blazed out onto the street outside, illuminating the smokers huddling chilled outside. The Mini parked, and I unfolded myself slowly and painfully from the dashboard, before sneaking past the smokers and into the warmth. OW, sheds are normally associated with men – and older men at that. They’re seen as refuges from the house, where men can disappear to be with their lawn-mowers, paint pots and tools. There’s even an Age UK scheme, Men In Sheds, designed to encourage men over 55 to socialise through pottering about in sheds. As Age UK

A Baltic Creative visitor strides towards the complex’s shed seven

puts it charmingly, “a shed is to a man what a handbag is to a woman”. I’ve never spotted any lads dancing around a shed in a tin-pot nightclub, mind – though I have seen them dancing to Shed Seven. But Baltic Creative wants you to shed that shed prejudice and take those warm wooden walls into your cold stone hearts. OR those for whom the triangle is untrodden turf, a primer: the Baltic Triangle has for some time now been earmarked as a creative quarter, and has become regeneration bodies’ chosen destination for creative and digital investors. For a while, the Baltic pioneers seemed like dreamers, chasing rainbows. But, in more recent years, the opening of creative complex Elevator Studios, the opening of eatery Camp & Furnace and the start of Baltic Creative have brought new life into what was previously a half-wasteland of industrial units. Among those units was a group of sheds with corrugated roofs – the “crinkly sheds” – and it’s those that have become Baltic Creative. The first phase sheds are still simple units, albeit with funky interiors. But the catalyst phase is something else. Truth be told, the development is far more exciting than any press release or CGI image had made it seem. First, the new frontage brings colour and life into the previously quiet Jamaica Street. Then, you walk through the glassfronted atrium and into a parade of sheds. But not just little garden sheds – these are supersheds, housing artists, designers and other creative entrepreneurs. And, right at the back, is the snazzy tree-lined home of the enthusiastic PRs of Agent Marketing, promoters of the launch shindig. If other local creative enterprises are speakeasies, tucked away and only findable if you know they’re there, then the new Baltic Creative is a thumping great creative disco down on the triangle’s main drag. And, as the launch event proved, it’s a great event venue. Dozens of Triangle residents and visitors milled around the sheds, or nibbled at tasty Delifonseca canapés in the atrium, all the while supping on tasty lagers and raisin ales from the unsung heroes of the night, the brewers at Cains. It’s early days for this unusual complex. As one speaker said, “Baltic Creative is like Liverpool – you have to visit to understand it.” But it already looks as though Baltic Creative could be a true change giver for the Baltic Triangle. ● FOR more on Men In Sheds, see www.ageuk.org.uk/cheshire/ourservices/every-man-needs-a-shed/

SOCIAL DIARY THE NETWORKER

Louise Hall, Jason Riley and Wendy Morton, at the Gusto Heswall networking event

Merriel Johnson, Lynn Taylor, of Claire House, and Nicola Johnson, of Coco Boutique, at the fashion event

CAROLYN HUGHES

Stef Clarke and Louise Hall enjoying some Christmas canapés at Gusto Heswall

COCO Boutique showed Southport fashionistas how to wear this season's hottest trends and gave all the advice needed to pull off the latest looks. With hair styled by Toni & Guy, Southport, the models showcased the new autumn/ winter ranges at The Vincent Hotel while raising over £3,000 for chosen charity Claire House hospice. Collections included Temperley London, Alice By Temperley, Diane Von Furstenburg, Pinko, Moschino Cheap and Chic. ■ GUSTO, in Heswall, hosted a networking event to showcase their Christmas menu last week. Invited guests enjoyed Christmas-

inspired canapés while a variety of companies were on hand to promote their businesses. ■ BALTIC Creative, Liverpool’s epicentre for creative and digital businesses, officially threw open the doors of the Creative Campus on Jamaica Street with a day of events. The day began with a Creative Forum of some of Liverpool’s most prominent designer makers. ■ OLIVE Press, on Castle Street, Liverpool, hosted an event to showcase their expert mixology skills, while introducing some new creations to their extensive menu last week. Guests enjoyed a host of freshly-prepared cocktails.

Nicola Silcock-Jackson, Maxine Farnworth, Chloe White, Natalie Silcock and Sarah Blonde, at the Coco Boutique fashion showcase

Marina and Lauren Dalglish together at the Coco Boutique fashion event Phillip Carlisle, Bretta Davis, LJH and Steph Carlisle, enjoying the networking at Gusto Heswall

Rachel Hinx and Katie Monaghan, of MAC, at the Olive Press mixology showcase

Sophie Reynolds and Anna Henshaw sample the fare at the Olive Press mixology event

Dave Pichilingi, of Liverpool Sound City, Erika Rushton, of Plus Dane Group, and Kevin McManus, ACME, at the opening of Baltic’s Creative Campus, in Jamaica Street