BUSINESS
ECHO
★★★★
Little Things makes a big difference
Golf boss tees up an expansion drive
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Enterprise success is Simplistix
Start Survive Thrive
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A 60 Really Useful Minutes presentation on how the principles of risk management as a decision-making tool may be applied throughout business operations will take place this Friday, May 27, at Liverpool Chamber of Commerce in Old Hall Street, from 9-10am. Book at Liverpoolchamber.org. uk
ENTERPRISING: The winning Simplistix team
PUPILS from Carmel College in St Helens will represent Merseyside in the next stage of the Young Enterprise programme in Manchester next month. Their Simplistix team triumphed at the recent heat in Liverpool Hope University’s Eden Centre with ideas for Christmas gifts, a five-a-side football tournament and their own version of ‘Blind Date’.
A FREE one-day ● course on the Equality Act is being
WAVES BIDDING TO MAKE BIG SPLASH by NEIL HODGSON Industry Reporter A NEW nationwide support agency for small firms has been launched in Liverpool. Waves Enterprise will offer business advice and training programmes to firms of all sizes and stages of development. It is an extension of the Waves ‘Sirolli’ model which created three projects across the city in 2007. Each project funded a business advisor, backed by a panel of volunteers
Agency launches national service for small firms
comprising local residents and businesses in the area who provided free advice and support for new firms, through their advisor. Waves will continue to offer free help for firms in central and south
Liverpool, but profits from Waves Enterprise – which is supported by the city’s economic development company Liverpool Vision – will help fund Waves’ free services for local firms. David Wiles, chair of Waves and chief executive of Waves Enterprise, said: “There is little doubt that the future success of our economy will depend on the success of our small and medium sized enterprises. “High quality business support is vital in these times of reduced public spending. “We believe we offer support solutions that are affordable, effective and of real benefit to business.”
LiverpoolCommercialDistrictBIDBallot 29thApril–27thMay. VOTE
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He said Waves Enterprise is the realisation of a long-held vision for the team of business owners and consultants who have worked with Waves since 2007: “Our first weeks of operation have seen our first clients through the doors and they are already beginning to see results.” Mike Taylor, deputy chief executive of Liverpool Vision, said: “Waves Enterprise has responded to a reduction in public funding by developing a whole range of low cost services businesses will want and can afford, helping to unlock entrepreneurial talent and building on the city’s growing business success.”
offered by Mersey Advice, at 4 St Anne Street, Birkenhead, on Friday, June 3, between 10am and 4pm, dealing with the largest change in discrimination legislation in the UK. To book a place contact merseyadvice@ btconnect.com or phone 0151-666 1999.
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MARTYN Best, co-founder of Liverpool PR agency Paver Smith and managing director of Document Direct has been appointed as president of the Liverpool Society of Chartered Accountants, one of the four founding societies and the oldest of the Institute of Chartered Accountants in England and Wales.
BUDGET hotels ● operator Travelodge will create 15
jobs with the opening of its first hotel in New Brighton this June. The 66-room hotel is located on the seafront, less than a mile from the town’s train station. A recruitment drive for the Wallasey New Brighton Travelodge has begun, aided by local Job Centre offices.
Yourdistrict. Yoursay.
www.liverpoolcdp.com/BID a vibrant business location at theheartof Liverpool
2 NEWS
Wednesday, May 25, 2011
★★★★
BUSINESS INDUSTRY BODY VOWS TO DELIVER ASSISTANCE
A SUPPORT agency for north west manufacturers has helped them achieve financial returns of £1.1bn and safeguard 10,306 jobs since 2002, figures show. The Manufacturing Advisory Service (MAS) North West, which is delivered by the Manufacturing Institute, unveiled the findings in its annual report. MAS operates a proactive policy of engagement, listening to manufacturers to develop initiatives, and practical assistance. And it revealed that after consulting almost 700 north west firms, financing problems and cash flow remain the top concern among almost 13.4% of companies. The second biggest concern, at 8.8%, is expansion and growth, with energy and material costs (7.6%) narrowly ahead of competition, lack of sales and developing new products (6.5%). Adam Buckley, MAS-NW head of programmes, said: “It is very interesting to see that cash flow and obtaining finance continue to cause the same level of anxiety they were during 2010. “MAS-NW will continue its proactive stance by helping great manufacturers become even better in what is the largest English manufacturing region.” Call 0800 458 9585 or visit www.mas-nw. co.uk
AWARD SUCCESS FOR PLASTERER
A HUYTON plastering firm has been named North West Subcontractor of the Year by Keepmoat Homes. Merseyside Plastering was set up five years ago by Jeff Murphy and Michael Redfern and provides work for 55 staff. At the presentation in Speke’s Crowne Plaza Hotel Keepmoat regional chief David Wroe thanked 60 small firm bosses for helping them achieve their most successful year.
SMALL
BUSINESS of the Week
T
HREE minutes from Switch Island there is a quiet oasis that is providing relaxation and reducing stress for hardworking parents. Not that they spend much time there, but It’s The Little Things children’s nursery has a string of awards and accolades commending them on their ethos and enthusiasm. That includes being named the UK’s Best Outdoor Learning Environment by industry title, Nursery Management Today, beating thousands of nurseries across the country. Scott McCubbin, who co-owns the nursery with business partner Louise Waller, said: “Our nursery, set in the family suburb of Maghull 10 miles north of Liverpool, beat rural nurseries, with significant funding and investment. “The awards we have won agreed that we had spotted an opportunity early. Our business theory sat between the corporate chains like Kids Unlimited and the small lifestyle business set in a semi-detached off a busy road.” The nursery began based on the tenet of creating the right environment for children, with business concerns secondary. Scott was confident that with the right offer in place, parents – that is, revenues – would follow. He said: “When we set out to create our children’s nursery, we had no funding, no location and no name, but we had a grand vision. “We wanted to create a nursery – and business model – which tapped into being healthy. “We wanted to be the best at this, not only in Merseyside or the North West, but in the UK. “We knew if we got this right, the rest would follow, we would create a good, profitable business that was scaleable – as long as we ensured that we not only gained credit for this business positioning but communicated and marketed it effectively.” Scott believes It’s The Little Things set up at just the right time to take advantage of the changing attitudes of parents which were, if anything, a return to traditional ideas. “Our principles and messages were key – we tapped into a shift in mindset – eating healthy and the value of fresh not processed food, the value of getting outdoors and fresh air, no matter the weather,” he said. “There were other elements uncovered in our research, such as parents’ dislike of young staff, so we made sure we employed a mix of ages with plenty of mums among them.
Children’s nursery is making a big noise Alex Turner finds out about the It’s The Little Things nursery, in Maghull “This reduced staff turnover, which also tapped into national and international research highlighting the benefits of continuity of staffing. “We opened earlier, at 7.45am, and closed later, at 6.15pm. However, it was the outdoor environment that really allowed us to stand out. We took three years to find and open our first nursery, set in a 42-acre woodland park, on the same parkland as an aviary, a wood and long fields. Squirrels, rabbits and birds roam freely. “On our main days, we are 85% capacity, despite charging significantly higher fees than our competitors, not only in the town, but surrounding towns and villages.” It is in the outdoor area that the nursery’s ethos comes to live. “The objective of our garden is simple,” said Scott. “To embrace the
outdoors and stimulate the senses and creativity of the children. “We’ve fashioned tree trunks, bamboo and metal into a giant instrument. Children experiment with the different sounds, whilst listening to the breeze whistle through the Willow planted close by. “Our construction area with real bricks and planks of wood encourages carefully monitored risk taking. “Children learn textures, weights and working together, as they move planks as a team and lift bricks in pairs. The longest plank becomes a bridge, a seesaw, a seat, a dinosaur – the possibilities are endless. “A variety of natural surfaces, from grass, logs, and bark to manmade metal frames, slides and rubber tyres challenge children to test themselves physically. Climbing, clambering, feeling, jumping and rolling all adds to
TOMATOES: A happy customer at It’s The Little Things nursery their confidence and agility. “The children rub their hands off the eucalyptus and the rosemary, while the scent of the lavender floats across the garden. “Children plant, water, pick and pod their own vegetables before feasting on their harvest.” Five years on, It’s The Little Things is also looking to reap its own harvest as it plans to start expanding from its first site. Scott added: “We are recognised nationally as being an innovator, despite relatively conservative funding. The aim is to take this innovation and role out the concept.”
Small companies urged to grasp absenteeism nettle SMALL firms are failing to tackle absenteeism issues, claims a north west employment lawyer. Employment Law Advisory Services (ELAS) says firms which train managers to combat sick-note culture see a return on their investment through falling absenteeism. Two thirds of businesses
which set tough targets and managed absenteeism are now able to reduce their overall sick leave, compared with half in 2007, says ELAS. As a result, overall sick leave has fallen from an average of 6.7 days per person per year in 2007 to five today, although absenteeism still costs the UK £32bn a year.
But ELAS argues that small firms are failing to follow suit, with as many as two thirds failing to recognise or tackle poor absence rates. And it says more than a quarter leave line managers not trained in absence handling to look after the problem as an additional task alongside their main job.
Peter Mooney, head of employment law at ELAS, said: “We have always advised clients that there are laws there to help them tackle absenteeism, if only they knew how to use them. “Too many businesses think the law is on the employee’s side and that if they take staff to task they’ll automatically
end up in an employment tribunal – that’s not the case. “Providing you’ve got evidence to back up any allegations, and that you follow correct procedures to make any disciplinary action fair, then businesses can tackle absenteeism and, in some cases, cut sickness levels considerably.”
MEET THE TEAM: Simon Waller (left), Louise Waller and Scott McCubbin at It’s The Little Things nursery, in Maghull
Final space available in landmark building The Investment Centre in the heart of Bootle town centre is south Sefton’s most prestigious business address.
A key feature of the five-storey development is the i-space incubator centre, officially opened by the Duke of Kent in late 2009.
RATES CUT BOOST FOR BUSINESSES
Do you want to be our Business of the Week? Contact Neil Hodgson 0151 472 2451 or email neil.hodgson @liverpool.com
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The landmark office building on Stanley Road offers 26,000 sq ft of flexible business accommodation, as well as mixed-use areas and a cafe on the ground floor which is due to open in late 2011. There is also parking for 48 vehicles.
NEWS 3
Wednesday, May 25, 2011
★★★★
The i-space provides managed office space for up to 18 start-up businesses on easy-in, easy-out terms. Tenants also benefit from a free computer and broadband as part of the package, as well as onsite business advice and support from social enterprise specialists South Sefton Development Trust, the managers of the centre. The building is also increasingly in demand from external organisations for meeting, seminar and conference use. The Investment Centre - which features a transparent facade and a colonnaded walkway has some impressive ‘green’ credentials.
Arvato, Sefton New Directions and two state-of-the-art dental surgeries on the ground floor. Over time, the Investment Centre will also benefit the local community. When the building was created with funding from Sefton Council, it was agreed that any surplus rental income will be reinvested in future regeneration projects in the area. Special negotiable and flexible rates are now being offered on the remaining space in the Investment Centre. Office suites from 780 sq ft to 2,500 sq ft are available at £9 sq ft, with free parking spaces.
It is heated by geothermal energy, a natural ventilation system has removed the need for air conditioning and recycled rain water is used in the toilets.
Units in the i-space incubator centre - open plan workstations and one and two-person offices - are available from £30 per week, inclusive of rates and service charge.
Tenants of the building include Sefton Council’s Economic Regeneration Department,
For more information contact South Sefton Development Trust on 0151-934 2637.
A MERSEYSIDE accountant is urging small firms to exploit a tax break after figures showed that more than £400m in Small Business Rate Relief (SBRR) is going unclaimed each year. Mitchell Charlesworth partner Paul Durrance said in England small firms are entitled to SBRR if the rateable value of their premises is below £12,000. Special rules apply for businesses that own more than one property, but with a total rateable value below this limit. He added businesses with a rateable value of up to £6,000 will pay no business rates, and this was extended by a year to September 2012 in the March Budget. This means that eligible ratepayers will receive SBRR at 100% on properties up to £6,000 rather than 50%.
Move into South Sefton’s premier office building for less Special rates on office suites from 780 sq ft to 2,500 sq ft
Grade A offi ce accommod ation in the heart of Bootle
Now from £9 per sq ft with free parking spaces Serviced offices in the i-space - starter units from £30 per week inclusive of rates and service charge Meeting and conference facilities also available Call us on:
2637 0151-93in4 formation for more
For more information contact South Sefton Development Trust www.ssdtrust.co.uk
THE INVESTMENT CENTRE
4 NEWS
Wednesday, May 25, 2011
★★★★
BUSINESS
BIG ‘We are here to help A amateur golfers improve their game’ INTERVIEW Alistair Houghton speaks to NICK WOOD, chief executive of American Golf
S THEY battle it out on the world’s golf courses for the world number one slot, it’s unlikely Lee Westwood and Luke Donald give much thought to the North West business world. But their battle for supremacy has given a timely boost to Warrington chain American Golf. This week, the specialist golfing retailer announced that sales for the year to January 31 stood at £86.6m – up 20% on the previous year. Much of that growth came through store openings, as well as the takeover of a golf website in March. But Nick Wood, American Golf ’s chief executive, says that the strong recent performance of British and European golfers on the PGA tour has helped stoke more interest in the sport – and therefore in his business. “Europe has got six of the top 10 golfers,” he says. “When you have a debate every week as to whether Lee Westwood and Luke Donald is the world number one, it hits the news more than when Tiger Woods was at the top for eight years.” Leicester-born Wood went to Cambridge University before joining private equity firm 3i, where he soon gained hands-on experience managing its investments. In 1997 he took that experience to the Dixons Group, where he spent 10 years. He ran businesses including the Dixons chain of high street stores and mobile phone retailer The Link. But in 2008 his career took a different turn when he was asked to join American Golf. The company was founded by Robert and Howard Bilton in the 1970s. In 2004, it underwent a management buyout backed by private equity firm LDC. “I was called by one of the private equity team looking after the investment in 2008,” says Wood. “They were looking to take the business to the next level. “It was still in that transition from being an entrepreneurial business to being a professional retail business. That’s what I’ve been working on. “We already had good knowledge of golf. Now I want to make this company a better retailer.” Wood joined American Golf as chairman, becoming chief executive later that year. Sales of golf equipment did dip in the recession, but Wood says American Golf weathered the downturn better than its competitors. “We probably saw a 10% fall in the market,” he says. “During that time, we performed pretty well. We grew our overall sales partly on the basis of store openings, but our like-for-like sales performed
GROWTH DRIVE: Nick Wood hopes to open more American Golf stores in the south of England significantly better than -10%. “We have now started to see some improvement – partly generated by this crop of golfers doing well.” The company has refitted its existing stores, backing that investment with advertising campaigns. Wood says the firm has also been helped by the fact that major equipment manufacturers are promoting technological innovations to their clubs. The company has also launched a store opening programme.
“We’ve opened 14 stores in the last two and a half years, including one in Aintree,” says Wood. “The business was started in Warrington. Its first few stores were around the North West. But then it grew, particularly into Scotland. “We are now a national retailer, but there are some towns and cities we aren’t in – Oxford, Swindon, Reading. They’re pretty sizeable places in which we should be represented. “We cover the North West quite
‘The big opportunities for us are in the Midlands and the South’
well, and we’re OK in Scotland. But the big opportunities for us are in the Midlands and the South. “In time, our proposition could support about 140 stores.” In 2004, American Golf bought SW Golf, the operator of the onlinegolf.co.uk brand. The group now generates 15% of its sales online, with 30% of those sales coming from overseas. Wood says: “There are two areas of golf that are growing – one is online sales, the other is the European market. SW gave us access to both of those. “American Golf ’s website is now integrated on the same platform as onlinegolf.co.uk. We’re getting synergies from the acquisition and benefiting from their experience.”
The average handicap of American Golf ’s retail staff, says Wood, is eight. The enthusiasm they have for the sport is passed on to customers, which in turn helps drive sales. “They are there to help the amateur golfer improve their game,” says Wood. “The only way they can do that is if they know more than the average golfer. It’s part of our proposition as a specialist retailer that we have strong staff knowledge. “If you’re fanatical about golf, then we’ve got a great job for you where you can talk about golf all day.” Wood is, of course, a keen golfer himself, playing off a handicap of 18. “But my colleagues call me
★★★★
Wednesday, May 25, 2011
NEWS 5
PACKAGING FIRM FLIES FLAG FOR UK
GOLFING GIANTS: Luke Donald (above) and Lee Westwood (below) are battling for the world number one slot – and their battle has helped boost sales at retailer American Golf
‘streaky’,” he smiles. “I play very well for about three holes, and then I’m all over the place.” Wood prides himself on taking time to explore the company’s store network. “Every summer, me and my operations director visit every store,” he says. “We meet the store teams to get a feel for what they deal with day in, day out. It’s a job that’s getting bigger – there were only 65 stores when we started out.” Wood spends three days a week at the company’s Warrington headquarters, spending the other days visiting suppliers or his e-commerce base in Essex. Wood is based in London, where he has lived for 18 years.
“I get the 5.39am from Euston to Warrington most Mondays,” he says. “I’m still at my desk before most of the office.” Outside work, he spends as much time as he can with his wife and nine-year-old twin daughters. Wood remains upbeat about the future of his business, taking the view that if it can negotiate a 10% fall in its market then it is well-placed to take advantage when the economy recovers. “We give the amateur golfer the right kit to improve their game,” he says. “If we get that right, we will get more people buying from us and our business will improve. “I’m proud of what I’ve achieved at American Golf, but there’s still a job to be done.”
A BOOTLE flexible packaging specialist is flying the flag for the UK in a European business competition. Weir & Carmichael is representing the country in the European Business Awards sponsored by HSBC and is competing for the Ruban d’Honneur in the next round of the competition. The firm, which was founded in 1955, is one of the representatives for the UK Trade & Investment Innovation Award for their product Britwrap Reusable Transit Packaging. Britwrap is a sustainable protective cover, designed to protect products during transit, while cutting packaging costs, waste, damaged returns and encouraging correct manual handling. Weir & Carmichael commercial director Martin Ellioth said “We’re absolutely thrilled to be selected to represent the United Kingdom.” Adrian Tripp, European Business Awards chief executive, said: “We are looking forward to seeing Weir & Carmichael in the next round.” Final category award winners will be unveiled in Barcelona on November 22.
TAXMAN IN VAT CRACKDOWN
HM Revenue & Customs (HMRC) is targeting VAT rule breakers. A summer campaign will focus on individuals and businesses who are trading above the VAT threshold, but who have not yet registered for VAT. Mike Wells, HMRC's director of risk and intelligence, said: “We are already in contact with a number of interested parties and I expect many more to contact us with their views before we finalise the design of the VAT initiative.” Previous campaigns have targeted offshore investments, medical professionals and people working in the plumbing industry, and have helped raised more than £600m.
6 NEWS
Wednesday, May 25, 2011
★★★★
BUSINESS
FINDINGNEW
Neil Hodgson reports on an alternative funding source for SMEs
FOCUS I . . . on funding
N these times of financial austerity small businesses – despite the claims of the big high street banks – are still struggling to find viable access to finance to ensure their survival, or even exploit any growth opportunities the current conditions may present. But one source of support, which sprang from the friendly societies of the 18th century, is ideally placed to help micro-businesses and is keenly awaiting a change in the law later this year which could extend funding to the wider small business community. Credit unions are not-for-profit cooperative financial institutions owned and controlled by their members to promote thrift, provide credit at competitive rates and other financial services to members. Surplus funds are shared between savers, which means loan interest can be kept low. Many exist to further the development of the communities they are based in. They grew in popularity in 1979 when the Credit Unions Act was passed. Current legislation limits them to operate a single member system. But this is ideal for the ‘one-man band’ or business that faces daunting lending criteria from the big banks unwilling to take a risk on a small, unproven venture. Restrictions and hurdles facing small businesses that, ironically, weren’t in evidence before the great 2008 credit crunch, have driven an increase in sole business owners turning to credit unions for support. Tracey Fletcher, chief executive of Liverpool-based Partners Credit Union, said: “There has been an increase, and this area is growing, slowly but surely. “We’re finding more and more people who ordinarily wouldn’t go to a credit union are coming to us for help. “They complain about their treatment from the banks or the fact they wouldn’t go to a bank for fear of refusal.” She said having that ‘light bulb moment’ and coming up with a business idea is the relatively easy part for entrepreneurs. “But what is really hard is getting the investment to enable you to start or expand your business,
COMPETITIVE: Enterprise Credit Union chief executive Karen Bennett can offer sole trader members loans with an interest rate of just over 6%, compared with more onerous terms from established high street lenders because even with the greatest idea in the world, you always have to wait to get a return and generally have to invest start-up capital. “Banks don’t necessarily want to help because you can’t demonstrate success, whereas the credit union listens, understands and they don’t naturally adopt the cold commerce that is performed by banks.” Individual members who Dale Street-based Partners – which also has offices in St Helens and Bootle – has helped realise their business dreams with financial backing include young women finishing beauty college training and keen to start up a mobile business, to the self-employed who need new vehicles or equipment to further their venture. Enterprise Credit Union has also noted a rise in enquiries from sole traders at its Huyton headquarters and its three satellites in Prescot, Page Moss and Dovecot. Chief executive Karen Bennett said members they have helped include mobile hairdressers, mobile DJs, a beauty salon, a cafe, and taxi drivers.
“A lot of taxi drivers contact us for loans for their annual insurance and MoT costs on their cabs.” Lending rates are extremely competitive. For example, a £1,000 loan over 12 months would attract interest of just £63, which falls as the loan reduces. And while credit unions may not rival someone like Santander as, it claims, the small business bank of choice, many sole traders do bank with them. Mrs Bennett said: “A lot of selfemployed people save with us. They see us as a community bank because the money is kept in the community. “We also have a relationship with BusinessLink and advise our members to go and see one of their advisers with any problems.” Enterprise was set up in 1988 and by 1998 had 500 members and assets of £47,000. Today, it boasts more than 8,000 members and assets of £4.7m. But Mrs Bennett said the impending law change will allow them to extend their support even further.
Credit unions can only deal with individual members. But a Legislative Reform Order currently making its way through Parliament would allow them to extend membership to small organisations such as businesses, community groups and social enterprises, if enacted. The proposals include some limitations, such as a 10% limit on the membership of corporate clients, a 25% limit on the amount of shares corporate members can hold in a credit union, and a 10% limit on loans to corporate members compared with total loans to all members. But another benefit could be a significant reduction in the influence of door step lenders and loan sharks. Partners Credit Union chief executive Tracey Fletcher said: “We feel the changes due and the services we will be able to offer will be of great benefit and go a long way to assist businesses, especially given today’s economy and the difficulties people still have lending from banks.”
Loan leads to new jobs PARTNERS Credit Union helped member Jenny Kirk set up her venture, Crosswood Consultancy, in April 2010. Jenny, (pictured) from Melling, said: “Although I was working in a job I loved, I knew I could do more.” Her idea was a business to provide bespoke training, such as business development, strategic planning, project management and marketing. “We also address information technology migration issues that companies face when acquisitions and mergers take place.” Jenny needed £20,000 for
NEWS 7
Wednesday, May 25, 2011
★★★★
CREDIT PHONE BILLS: Most people already use their phones for more than just talking – now are using them to pay bills and manage finances, according to the Future Foundation
MONEY MATTERS
GROWTH: Tracey Fletcher, of Partners Credit Union, has seen an increase in funding enquiries
equipment and said: “I knew the credit union was a viable option for me and they would lend me the money, but not only that, because of the way the credit union calculates its early redemption on loans, this would be of great
advantage to my business. “As well as this, I knew both my savings and loan were insured for free.” Last November Jenny was offered a nine month contract with Lloyds TSB: “Ironically, this was the first
bank that turned me down for a loan.” She added: “Although early days I have two part time employees and am enjoying continuing interest from companies interested in the services I provide.”
THE majority of Britons will be using their mobile phone to manage their money, pay bills and make purchases within the next three years, it has been predicted. Around 10% of consumers are already managing their finances through their mobile, double the proportion of people who were doing so two years ago, according to a report by thinktank the Future Foundation. It expects the number of consumers using mobile money services to exceed 50% within the next three years, as banks and retailers increase the services that are available to people using their mobiles for financial transactions. The report, which was commissioned by mobile banking services group Monitise, said a major factor driving the uptake of mobile banking would be the emergence of so-called tap-and-go payment systems. These enable people to pay for low-value transactions by tapping their mobile phone
against a contactless payment reader. Barclaycard and Orange became the first group in the UK to offer contactless mobile payments last week, with customers able to use their phone to buy things in more than 50,000 shops and food outlets across the UK. Another factor in the growth of consumers using their mobile to manage their money is likely to be their desire for convenience, with
GET SMART: Phones such as the iPhone are helping people manage their finances
with NICKY BURRIDGE, personal finance correspondent
many people opting to use their mobiles for bill payment and financial transactions even when they are at home, where they have access to a computer. Among those who already use mobile banking, 57% said they were using it more than they did a year ago, while 68% said it was more convenient than using the internet. Seven out of 10 people also said they were keen to be able to use their mobile phone to pay for items in shops. Alastair Lukies, chief executive of Monitise, said: “This research gives a real insight into how quickly and completely Britons have made mobile banking a part of their everyday lives. “The fact that more than half of Britons are expected to be using mobile money services in the next few years compared to one in 20 two years ago demonstrates an exceptional rate of growth.”
8 NEWS
Wednesday, May 25, 2011
★★★★
Business to Business
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GUSHER: High fuel costs continue to hinder businesses across the region, despite recent falls in the price of a barrel of oil
by NEIL HODGSON Industry Reporter BUSINESSES across the region are paying almost £10m more for fuel today than they were a year ago. Research by Liverpool invoice finance specialist Bibby Financial Services has revealed almost 500,000 small and medium-sized firms throughout the north west are collectively paying £9.4m more on fuel now compared with 12-months ago, as the average price of a gallon of fuel has risen from £5.50 to £6.31. And the survey revealed more than half of firms (54%) who have been hit by the price rise will pass the extra cost on to the customer. Bibby says the findings
NW firms pay £10m more for their fuel highlight the extent to which rising fuel costs have impacted on businesses and what actions have been taken to absorb the costs. More than a third of firms (36%) have decided to reduce the amount of time spent on the road to cut costs and 27% of business managers and owners are reviewing company vehicles and planning to introduce more efficient models. The research, based on the AA Fuel Report and Department of
Transport commuting and business travel survey, calculated the number of small and mediumsized businesses in the region and how much fuel is consumed at average prices, which revealed a total of £70.8m will be spent this year based on current rates, compared with £61.3m in 2010. Bibby Financial Services spokesman Dave Golding said: “Our research clearly shows the soaring cost of fuel is having a significant impact on profit margins, customer relationships and employee benefits of north west businesses. “Business managers and owners have had some difficult decisions to make as they decide whether to pass the extra fuel costs on to customers by increasing prices, which
threatens loss of trade, or alternatively, try to absorb the costs internally, which could affect the financial stability of their business. “The rising price of fuel is just the latest in a line of challenges firms are battling to overcome, putting further pressure on cash flow management and highlighting the importance of financial liquidity.” Earlier this week an AA report claimed that UK motorists are still being ripped off at the pumps, despite a slide in oil prices. A fall in the oil prices in early May took $10 off the cost of a barrel and could reduce the pump price of petrol by 4p a litre. But rapid price rises in late April still leave petrol car owners worse off than in mid-April.
Female entrepreneurs’ grant extended A SCHEME offering female entrepreneurs a £200 cash boost has been extended. The Women’s Organisation, formerly Train 2000, previously made the start-up grant offer to women living in Liverpool and Knowsley. Now the scheme has been extended to Sefton.
The money can be used towards any start-up costs, from marketing through to business stationery. Enterprise director Jackie Williams said: “We are delighted to be able to offer this start-up grant. It will be extremely helpful in the initial stages of business start-up when
there are often costs incurred.” In addition to the grant the organisation also offers a range of free services such as one-toone business advice and business-related courses. Business advisers can also assist in accessing further funding for business start-ups.
The Women’s Organisation recently relocated to its new state-of-the-art base in the Baltic Triangle area of Liverpool. The centre includes ‘incubation’ units for new and high growth female enterprises, office space including ‘virtual offices’, and an international
research and knowledge centre focused on women’s enterprise and wider economic development issues. Further details from 0151-236 6601, or freephone 0800 587 0383, or by emailing info@ thewo.org.uk or visiting www.thewomens organisation.org.uk
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