2015 The Top 150 companies in the West 2015: A key year ahead for Hinkley Point Bloodhound – how the West is winning the pace race £100 million investment in West sporting infrastructure
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Business Western Daily Press
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Inside PAGES 20-21
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The West’s world-leading aerospace sector is flying high
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Technology and manufacturing in the West has the perfect champion this year, when Bloodhound seeks to break the world land-speed record PAGES 26-27
Business guide sponsor UWE Bristol is among the most business-focused universities in the land PAGES 28-33
The Top 150 firms in the West Country, ranked by turnover. The comprehensive data is provided in association with our partners Jordans
The Western Daily Press Business Guide 2015 is edited by Richard Bache richard.bache@westerndailypress.co.uk
PAGES 2-3
UWE Bristol’s Professor Jane Harrington, Western Daily Press editor Ian Mean, Business West’s Phil Smith and Alder King’s Martyn Jones look at the West’s economy in 2015 PAGE 4
Peter Harris, chairman of The Forum for the Built Environment, looks at the construction sector PAGES 5-11
The Hinkley C new nuclear reactor project in Bristol is potentially the biggest investment the region has ever seen. We hear direct from EDF, from local authorities, small businesses in the supply chain and finance experts who advise other small firms how to get involved in the project
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Wolf Hall and its like are making West go-to destination for TV and film business
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Business guide sponsor First Great Western is excited to be bringing the capital closer to the West PAGES 36-39
Agriculture and the rural economy PAGES 42-43
Commercial property PAGES 44-45
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Tourism sector gets presidential seal of approval
Alan Robinson of ARC Energy is hoping for Hinkley approval
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PAGES 12-15
South Bristol is looking up
Catch up with the major developments and trends in the professional services world in the West. Including sponsor Foot Anstey
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Buoyant creative sector
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How Bristol is at the forefront of trials of new transport technology thanks to Green Capital status
Finance and Made in the West
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Business Guide sponsor NGD demonstrate how critical it is to protect IT networks
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Sporting splurge Stadia investment
This picture taken at Cheltenham Racecourse on New Year’s Day shows the progress with the £45 million project to improve the leading track. It is part of a £100 million investment in the region’s sports stadia PAGES 40-41
Sun shining on Wiltshire PAGES 54-55
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THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 1
Columns Business West Phil Smith
Property outlook Martyn Jones Commercial property activity in 2014 in the South West was the strongest since the financial crisis, driven by a buoyant regional investment market, the return of speculative development and strong occupational demand. We saw confidence accelerate throughout the year as agreements for the planned Hinkley Point C power station were approved by the European Commission and a £2 billion investment in the region’s road infrastructure was announced in the Chancellor’s Autumn Statement last year. These two multi-million pound projects alone will significantly strengthen our economy, opening up major new development opportunities in Bristol, Somerset, Wiltshire and Gloucestershire and creating hundreds of new jobs. Notwithstanding uncertainties from the forthcoming general election and the possibility of interest rate rises, optimism remains high that recovery can be sustained in 2015. The regional investment market was strong throughout 2014. Exceptional levels of demand in the London market have driven pricing to a point where the regions are perceived to offer better value and therefore attract strong institutional interest. The South West and its principal centres are performing well in a UK context, fuelling investment interest and providing attractive comparative investment returns. We expect this momentum to carry into 2015 with strong competition for the limited attractive opportunities across all sectors. The South West continues to play to its strengths of financial, professional and creative ser-
vices, engineering, technology, defence and energy. Predicting and meeting the property needs of these occupiers over the next five to ten years is essential for the region’s continued success. Those developers who had the confidence to commence speculative commercial development in 2013/14 have been vindicated, with high profile transactions in Bristol to PwC and KPMG and record rents achieved through our agency teams. In Gloucester we also secured the city’s largest and most significant transaction with the prelet of 52,000 sq ft at Gloucester Business Park to Horizon Nuclear Power Services. Permitted Development Rights, which allow the conversion of lower grade office stock to residential use without planning consent, are having a positive impact on all of our town and city centres. In Gloucester, Bristol, Swindon, Taunton and Bath, there are a number of conversions in the pipeline which will deliver schemes in 2015. In Bristol alone, over one million sq ft of offices has been identified for conversion. While in the short term this reduces the level of supply and therefore choice for occupiers seeking new premises, it is encouraging new speculative development and speculative refurbishment in Bristol and Bath and rental levels will increase again in early 2015. The food store and logistics sectors are two market sectors that are performing strongly. Lidl and Aldi have aggressive expansion plans across the region while occupiers involved in internet fulfilment are actively seeking strategic depot sites, as evidenced by
GeoPost’s recent site acquisitions at Bridgwater and Exeter. The retail sector is still a picture of winners and losers. The prime locations perform strongly but for many secondary and tertiary retail centres and high streets, trading conditions remain extremely challenging; their position isn’t helped by the as yet unresolved issue of business rates relief and reform of this contentious levy must be high on the new Gover nment’s agenda. Swindon’s retail area has been given a huge boost with the opening of the Regent Circus shopping centre late last year and retailer demand for units is strong. Meanwhile in Bristol, The Mall at Cribbs Causeway’s recently-announced expansion plans demonstrate its confidence as the region’s leading retail and leisure destination. If approved this expansion, together with the outline plans for the redevelopment of the Filton Airfield site, will represent a multi-million pound transformation of the North Bristol skyline. The on-going success of the Temple Quay Enterprise Zone and progress on the long-awaited Bristol Arena are further examples of growing economic confidence. Looking longer term, the prospect of city and regional devolution, while potentially some way off for the South West, provides a tantalising opportunity for the region to exercise greater control over its economic future, driving investment in projects that matter to us such as transport infrastructure and creating new jobs.
the political landscape is the least settled in decades. Whilst on a national scale party leaders are at loggerheads over important issues such as immigration and the NHS, local politicians must not lose sight of either the macro economic agenda or those less high profile issues that impact day to day business. It is for this reason that we are releasing our business manifesto, putting the key issues for business on the desk of every prospective candidate – issues such as skills, legislative burdens, taxation and transport links. The election is just the beginning, and we must guarantee that a shake up of government in May makes our region a more confident, enterprising and skilled place to start and grow a business – a great place from which to export your goods or services to the rest of the world.
Martyn Jones is senior partner at leading property consultancy Alder King, based in Bristol
As we prepare for what promises to be a dramatic year in politics, we see a vastly different economic landscape than that of 12 months ago. This time last year we were talking cautiously about renewed optimism for business, and now we are firmly out of that destructive recession. The new year is very much a fresh start in our region, perfectly illustrated by Bristol officially taking over the reins as European Green Capital for the year. Who could not have been impressed when Clifton Suspension Bridge was lit up as the clock struck midnight on New Year’s Eve, acting as a green beacon to the rest of the world. There is no doubt that this is a monumental year for the Bristol region to enhance its reputation for creativity, sustainability and innovation; but green can also mean go for firms across the whole South West. With the eyes of the world taking a glimpse at our region we must showcase what we have to offer. With this very much in mind Business West launched in December our #GetExporting campaign, aiming to get 2,020 more South West firms exporting by 2020. With all the coverage the South West will receive this year, what better time is there to take the leap into international markets? While 2015 offers significant opportunities, we must also face the five-month swirl of uncertainty which comes in election years with the detrimental impact on business confidence that such uncertainty brings. With half of the parliamentary seats in our region classified as marginal compared to only 10 per cent nationally, and a national appetite for devolution,
cognised far more by government. The Western Daily Press believes that whatever the colour or colours of the next government, it must really accelerate the development of skills in the South West. Skills and the development of skills is one of the beacons to future growth in the region. After a lot of warm words, skills looks to be in the sidings and it must now have more government encouragement and cash to ensure that we constantly develop our people to their full potential. Together with our sister newspaper, the Bristol Post, the Western Daily Press is also keen that government also accelerates its apprentice programme.
Sadly, with some cuts to further education expenditure, we have seen a slow down in apprenticeships being provided. This must not be allowed to happen. It is absolutely clear that the apprentice and graduate route leads to the best jobs. I believe it is in all our interests to support the colleges and universities such as the University of the West of England in developing partnerships with local business. I think there are many SMEs who do not really realise how much help they can get from partnering an educational establishment like UWE. Here in Bristol, UWE has developed tremendous real-time knowledge transfer partnerships. Did you know about them? Prob-
ably not. They can be partly sponsored by the government, giving those SMEs who probably could not afford to do so the opportunity of bringing in young people to help work on problems within their business. I hope this 2015 Business Guide gives you something of an insight into the great talents this region has in its companies and organisations. Here at the Western Daily Press we intend to keep shouting about those companies and the people behind them who drive their success. We hope you will join us in spreading the word about the south west being a powerhouse for business.
Phil Smith is managing director of Business West
Clifton Suspension Bridge was lit up as the clock struck midnight on New Year, ‘acting as a green beacon to the rest of the world’
Developing skills Ian Mean In only four months’ time we have a general election, and the Western Daily Press would encourage all the parties to digest the success stories in this, our latest Business Guide. If you look at the top 150 companies in the South West listed on pages 28-30 you will see some of the great names in every sector of business, from financial services to aerospace. And innovation in their operations is what strikes us as a key constituent of their ongoing success. We hope that innovation is recognised by the politicians, who I believe need to give this region far more support. David Cameron and George Osborne have recently been con-
stantly extolling the virtues of the North of England. They talk of the Powerhouse of the North and how the new rail links will increase its attractiveness to business. All well and good, but what about the South West? In our view, the South West is a powerhouse in its own right. But just don’t take our view, look at those companies listed in our top 150. This region is a powerhouse in all sorts of high-level technology, particularly of course in aerospace, with world-leading companies such as Airbus and the nuclear industry through EDF. Ground-breaking work by innovative companies like these and so many others need to be re-
2 BUSINESS GUIDE 2015 THURSDAY JANUARY 22 2015
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Ian Mean, editor, Western Daily Press
Columns
Exciting union of enterprise and academic rigour University view Jane Harrington Through the new building for business and law at Frenchay we will be able to achieve our ambition: to bring universities, businesses and the professions together in one building. It will enable us to continue our mission to support the region’s businesses to grow and develop. The building and its facilities will enable us to shape the future of business and legal education. By creating a space for the faculty and its partners, I envisage a building where staff, students, employers and the professions can work together and learn from each other – with collaborators accessing graduates, consultancy and research. I see the building as one that is accessible and welcoming and changes the view often expressed that universities are not open to business. Our investment represents a positive response to the recent 21st Century Leaders: Building practice into the curriculum to boost employability report by the Association of Business Schools (ABS), the Chartered Management Institute (CMI), and the Quality Assurance Agency (QAA) that highlights a need for business schools to offer more in the way of extended, meaningful work experience and connections to and with business. As one of the authors of this report, I am committed to the idea that we deliver on the need for ‘business ready’ graduates. Employability of students depends on a sound understanding of what it is that employers are looking for and integrating this into our programmes of study. We do this not just through knowledge, which is a given, but through the development of practical skills, through exposing students to organisations and through developing a work ready mind set. As the only university in the South West to be awarded the prestigious Small Business Charter Award, which both recognises the work we do with businesses and provides support for this work to develop we will be able to continue our ambition to develop innovative programmes, such as the Business Team Entrepreneurship degree, grow the consultancy work that our MBA students undertake, support graduates to set up their own businesses as well developing the regions businesses. I see us as playing an
Tom Burton working on a hand exoskeleton for stroke victims at the Bristol Robotics Laboratory WBG-E01-S2
active role in regional growth through all of our activities. Key to building on this recent success is creating a space that is welcoming to businesses, a space that breaks down the barriers that may be there around universities perceived as ivory towers, a space that inspires incorporating modern thinking in learning and teaching and ensuring that this is supported by the latest technology. The best curriculum is designed in collaboration with academics and business partners and enables students to embrace an innovative, ethical and entrepreneurial ethos and utilise their skills in the workplace from day one. Business and Law schools should invest in developing practical ways of building a closer relationship with local employers, and making it easier to access what is on offer and this is at the heart of our ambition. The build-
I am committed to the idea that we deliver on the need for ‘business ready’ graduates ing will have a state of the art event space and through this we will be able to bring in leading speakers for our students and businesses. The new space provides us with fantastic opportunities to invite businesses to become more involved whether this is through setting up offices at UWE, using the space for meetings, collaborating on new business start-ups, better access to research, so many things that put together will mean that we are able to work towards delivery of the best talent to employers and enable our students to develop the skills that will make them productive and successful. It is a wonderful opportunity to really be able to connect what we do with the businesses and professions in the region and really make a difference to the innovation and growth agenda of the region. It is this that excites me about this new building – the chance to be part of the changing landscape of the region and to see the business and legal sectors continue to develop and grow in Bristol and its region.
Professor Jane Harrington is Deputy-Vice Chancellor at UWE Bristol
THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 3
Columns Building economy Peter Harris Workload and resourcing issues in the construction sector nationally have been well documented as recessionary pressures hit business, both large and small, in the region over the past few years. It is a very rare business indeed that has not been affected in some way by the economic downturn in the sector. Government attention is constantly directed at property and construction, which acts as a strong barometer for growth and recovery. Often, committee members of The Forum for the Built Environment – a national and influential networking organisation with a strong presence in Bristol and a membership covering the South West – are often asked to provide an overview of the issues facing its members. Professional disciplines including project management, cost management, planning, architecture, engineering, M&E services, transport, environmental, energy, ecology, sustainability (to name but a few), construction groups, legal practices, construction-related sub-contract trades and material/product suppliers all join
together within the forum to share the highs and lows of the industry. It represents a diverse, strong and representative voice. Its members have suffered one of the most prolonged periods of economic instability in recent years. At the height of the recession, many member companies were forced to lose substantial numbers of key staff whose experience and skills are now proving to be irreplaceable. Irrespective of the fact that the industry has gained considerable momentum during the past 12 months, much of the ‘lost’ skill-set has not returned to the sector. Many have taken the opportunity to pursue a career change. Add to this the fact that young people are not taking up apprenticeships, nor are graduates pursuing careers in the sector, thus STEM skills are challenged – it therefore becomes easy to see how the industry is likely to struggle to respond with the same vigour and efficiency in the future as prerecession. Whilst the response from the sector is currently ‘strained’, order books are filling fast once again – local authorities and
The new Hinkley project ensures the region will become a construction hotspot academy schools are still working hard to build and meet the expanding requirement for pupil places; retail and mixed use schemes are coming back into the market, some supported by the growing need for student accommodation; commercial schemes are beginning to re-emerge as occupier demand flickers and the announcement that Bristol City Council will be coming to market for its construction partner to deliver the Arena is very welcome news. It is also very positive that
our higher and further education sectors in the South West continue to attract strong student numbers which warrants continued investment in the university and FE estate. However, one cautionary note needs to be considered and that is construction inflation, which is running well-ahead of current RPI figures. This is putting considerable strain on budgets and many projects are not proceeding as a result. The shortage of key trades and
the knowledge that the South West will become a construction hot spot as a result of EDF and Hinckley makes for interesting debate amongst the forum’s members. If my own company is in any way representative, we are very busy but equally selective in the commercial risks we are prepared and able to take. It is already recognised that tiers within the supply chains of major contractors will substantially strengthen or weaken the industry’s ability to respond to clients with build requirements and commercial terms will have a major effect on who is prepared to work with whom as the focus on risk management in the industry becomes more acute. Without doubt the construction and property sector in the South West has challenges but the commitment of The Forum for the Built Environment to support its members and champion their interests remains a principal focus for the organisation.
Peter Harris, of Bristol-based mechanical and electrical consultancy Silcock Dawson, is chairman of The Forum for the Built Environment
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THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 5 ARTWORK PROOF
Hinkley Point C Commentary The figures surrounding the construction of Hinkley Point C are compelling, writes Robin Goddard, regional director of Close Brothers Invoice Finance.
Mechanical diggers have been on site at Hinkley in preparation for a final decision to proceed with the new reactor
Hinkley Point C cleared numerous hurdles in 2014 Hinkley Point C will be the biggest civil engineering project in Western Europe. Nuclear firm EDF gives an update on exactly where the project is at the moment Hinkley Point C will be the first nuclear power station built in Britain since 1995 and a construction project greater in scale than the London Olympic Park. Once the project receives the final go-ahead, the initial phase of the decade-long build will see four million tonnes of earth excavated – equivalent to 1,300 Olympic swimming pools – for a power station that will be capable of supplying five million homes. For the South West, the project represents a substantial opportunity for local suppliers as well as for job creation. Benefit to the regional economy is calculated at £100 million a year during construction and more than £2 billion over the lifetime of
the station. Hinkley Point C has passed big milestones in the last year, including approval from the European Union. That means many of the key parts of the project are now in place. Ahead of main construction, agreements with investors and equity partners need to be finalised and a ‘final investment decision’ made by EDF Group. In the South West, more than 1,700 companies have registered their interest with the Somerset Chamber of Commerce to work on the project. Many local and regional companies already have contracts associated with HPC worth almost £100 million. In terms of employment, at least 25,000 job opportunities will be
6 BUSINESS GUIDE 2015 THURSDAY JANUARY 22 2015
created on site, with 5,600 people set to be working there during peak construction. Up to 1,000 construction apprenticeships will be created by companies working on the build. Preparatory works at the site have taken place so that full scale construction can get going as soon as a final decision is taken. Construction of key internal roads has taken place on the 400acre site. More than 100 pieces of plant machinery were mobilised, some capable of moving 30 tonnes of earth in one bucket-load. This work has included investment in the local road network, which includes a mile-long bypass for the nearby village of Cannington. After the project gets the green light, work will begin on a 500-metre jetty in the Bristol Channel to receive 80 per cent of the construction aggregates, relieving pressure on roads. Key also will be the construction of a concrete plant which will make the one million tonnes of concrete required for the reactor’s foundations. There will be an early focus to establish amenities for the workforce, with those thousands of people employed by the construction needing offices and meals, as well as somewhere to rest and change. Nigel Cann, site construction director said: “Last year was a productive year in getting ready for the final go ahead, with a sharp focus on delivering preparatory works. I look forward to seeing more Somerset suppliers being part of the HPC project in the future.”
PICTURE: EDF ENERGY
Robin Goddard, regional director of Close Brothers Invoice Finance. To find out how it could help your business visit www.close invoice.co.uk or call it on 0808 2314641 WBG-E01-S2
Predicted to be the largest construction site in Europe and estimated to cost over £16 billion, the project will create 25,000 employment opportunities in the region which will be sustained for almost a decade. The economic benefits in the community will be significant, particularly for businesses. As part of the process, EDF Energy, the company behind the facility, has placed a strong emphasis on creating a local supply chain, partnering with the Somerset Chamber of Commerce to offer firms the opportunity to become part of the process and fulfil major contracts. 1,500 businesses of all sizes, representing a wide range of professions and services, have already registered their interest with the chamber, but irrespective of their role there are challenges they all may face. Financially, firms will need to ensure that they have access to adequate funding and working capital to take full advantage of the opportunity Hinkley Point C represents. Many will be required to expand and upscale their resources including their workforce, equipment and vehicles. For others, it will be a matter of accessing finance quickly to ensure they meet deadlines and targets. The latest Close Brothers Business Barometer revealed that a quarter of firms in the region believe restricted cash flow is their biggest barrier to business growth, while a further 38 per cent cite an ability to invest in staff or equipment. They find there is often a difficult balance between managing a healthy cash flow and facilitating expansion. Instead, businesses require a source of funding that will allow them to maintain their working capital as they grow. One solution is invoice finance, a form of funding that allows businesses to access the cash tied up in their unpaid invoices. Firms send the outstanding invoice to a finance provider such as Close Brothers and in return they receive an advance percentage of the money within 24 hours. The remaining balance is then released upon customer payment, minus an agreed service fee. Invoice finance uses cash that is owed to create a flexible line of finance that the company can then reinvest in their expansion and strategic objectives. It could add enhanced stability to the cash flow of your business, but crucially, it is bespoke. Invoice finance is tailored to your needs, regardless of your company size. It can allow you to unlock further potential in your company and as the region prepares for Hinkley Point C, there may never be a more important time to reinvest and generate some power of your own.
Hinkley Point C
New nuclear build is a long road, but destination nears There are few – if any – more complicated projects imaginable to get off the drawing board than a nuclear reactor. It has been a ten-year process thus far – but the likelihood of Hinkley Point C being built moves ever closer. To build the proposed station, a number of associated developments are also required during the construction phase. Work on some of these has already begun and they will eventually include a temporary jetty on the site and a refurbished wharf at Combwich to allow heavy materials to be delivered by sea, reducing traffic on local roads. Three campuses for construction workers – two of them in Bridgwater and one on the main development site, plus various highway improvement schemes, including in and around Bridgwater.
Here are some of the key milestones.
2005 – Government says new nuclear power stations are needed to close the UK’s energy gap 2009 – Hinkley Point C identified by Government as one of eight locations in the UK potentially suitable for a new nuclear power station 2009 – EDF Energy opens office in Bridgwater 2009 – EDF Energy starts formal consultation on initial proposals 2011 – Parliament ratifies the Government’s National Policy Statements, highlighting the “urgent need” for new nuclear and following two rounds of consultation 2011 – EDF Energy applies to regulators for a Nuclear Site Licence and Environmental Permits 2011 – An application for Site Preparation works is approved by West Somerset Council 2011 – EDF Energy’s formal
The road to Hinkley Point C has been a long and windy one, but a series of waymarks have been passed en route to the point where the project is on the cusp of being formally given the green light to commence in earnest. EDF should make its final investment decision in 2015, paving the way for the power station to be built PICTURE: FRAN STOTHARD
consultation comes to an end following four stages of consultation 2011 – EDF Energy submits its Development Consent Order (DCO) application to the Infrastructure Planning Commission (now the Planning Inspectorate) 2012 – Site Preparation works start on the Hinkley Point C site after legal agreement 2012 – Planning Inspectorate starts six-month examination of the DCO in March, making a recommendation to Secretary of State by December 22 2012 – Draft Energy Bill published 2013 – Secretary of State decision to approve Hinkley Point C application given in March 2013 – Agreement reached on commercial terms of the operation of Hinkley Point C in October. Including a controversial agreement with the Government over the ‘strike price’ – a guarantee over the price paid for electricity generated by the reactor. 2013 – The European Commission announces in December it is investigating whether the ‘strike price’ agreement constitutes illegal state aid. 2014 – EDF and unions agree a deal in July about the wages and industrial conditions for workers engaged on the project. 2014 – The European Commission approves the agreements between the Government and EDF in October. 2015 – EDF and its partners scheduled to make final investment decision to proceed with project
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THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 7
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Hinkley Point C
Sedgemoor is in shape to reap the Hinkley rewards
Nuclear people Gwen Parry-Jones
Kerry Rickards , chief executive of Sedgemoor Council, says Bridgwater and the surrounding area has responded to the opportunities provided by Hinkley Hinkley Pont C Site Construction Director, Nigel Cann, stated that: “EDF Energy and its partners are developing a new nuclear power station in Somerset that will provide low carbon electricity to around five million UK homes. “The project marks the rebirth of the UK’s nuclear industry and will continue Hinkley Point’s proud track record of safe nuclear power generation dating back over half a century. “Construction of the power station, with two new nuclear reactors, is a massive investment of around £16billion. It will create 25,000 job opportunities during construction, take almost a decade to complete and provide 900 permanent jobs once it is fully operational. Safety is our number one priority. We place nuclear safety at the forefront of everything we do and our ambition is to achieve a ‘zero harm’ safety record. “We are committed to working with local people during construction and leaving a lasting legacy once the job is done.” The announcement by the Government that two new nuclear reactors are to be built in Somerset is truly a major investment to our community. Handled properly this could be transformational to our local businesses, to our town centres, to our tourist business, to our deprived communities, to our road network and to our housing supply in and around the Bridgwater area. Yes, we acknowledge that such a major investment (in the region of £16billion), employing more than 25,000 workers during the construction period of almost ten years, will have adverse impacts. However, the overall value added to our community is staggering in terms of money coming in during the construction phase enabling local suppliers to gain a real “lift” thus assisting them to establish themselves even further in the national and international markets. The Hinkley Point C Project will provide important economic benefits to the UK and locally, including: ■ A £100 million investment each year in the regional economy during peak construction period ■ Over £2 billion into the regional economy throughout 60 years of operation. Our negotiating team here at Sedgemoor did well to secure a £90
million package of mitigating resources to ensure that the construction phase lands two new nuclear power stations as smoothly as possible by the due date. Whilst, over the past three years, our community benefit team has worked hard and succeeded in firstly getting the concept of community benefit into the “psyche” of the Government’s cabinet members and secondly getting an announcement that £128 million will be forthcoming to the betterment of our communities at the operational phase of the new nuclear station. However, much more clarity is still needed from Government on exactly what the mechanics will be to release such new funds (but more on that later) to the benefit of the Sedgemoor community. To conclude then, as the chief executive of Sedgemoor District Council, I positively welcome the announcement and intention of the multi-billion pound expenditure into Somerset and acknowledge that such a huge one off investment and recurring investment if managed well, will enhance job opportunities for all, establish many new and expanded businesses in the nuclear supply chain based locally, creating lasting transport infrastructure, improved educational facilities, housing and leisure legacy and through greater wage expenditure in our communities pre and post construction phase, go a long way to ensure the retail and leisure sectors benefit enormously from the extra spend coming into our communities. We at Sedgemoor are Hinkleyready to ensure that with our impressive EDF partners we can and will make a huge positive difference to our local economy and local community now and in the future.
Sedgemoor Council has had to do its homework on Hinkley for many years. Chief executive Kerry Rickards, left and corporate director Doug Bamsey in Bridgwater in 2010 with a pile of documentation relative to the Hinckley Point project. Below, the council believes the attractive landscape and good lifestyle in the area will attract more long-term investment and persuade contractors to stay in the region
‘The overall value added to our community is staggering in terms of money coming in during construction’
One of the most senior women in the UK nuclear power industry – who was awarded an OBE in the New Year Honours list – has pledged to help nurture the next generation of female talent. Gwen Parry-Jones, EDF Energy Generation’s safety and assurance director, based at the firm’s UK headquarters in Gloucester, first moved to the city in 1995 to work at Nuclear Electric before her career took her away two years later. She returned to Gloucestershire in 2001 for a brief spell before working most recently at Heysham 1 nuclear power station in Lancashire. Ms Parry-Jones was awarded an OBE for her role within the energy industry and her work promoting science and technology careers. “I am delighted and privileged to have been awarded an OBE,” said Ms Parry-Jones, the first woman to become a station director when she took over Heysham 1 in 2008. “This award was only possible through the support of my colleagues, who have encouraged me for the last 25 years. “The task now is to ensure all our people have the greatest chance to be their best, including nurturing the next female station director.” Stuart Crooks, managing director EDF Energy Generation, said: “Throughout her career Gwen has been involved in helping to excite people about the career opportunities that are available in science and engineering and encouraging them – women in particular – to study STEM subjects. This honour is great recognition of her work.” She is also a fellow of the Institute of Physics. Her early career began as a reactor physicist and reactor control engineer at Wylfa nuclear power station in north Wales. In 1995 she moved to Barnwood, Gloucester, as a management accountant with Nuclear Electric before moving to Heysham 2 power station in 1997 as finance manager. In 2000 she moved to Canada as part of British Energy’s team working at Bruce Power in North Ontario. A year later, Ms Parry-Jones returned to the UK, taking up a position at Barnwood before moving to Heysham 1 as technical and safety manager. After three years at Heysham she took on a new role as EDF Energy’s campus project director, to develop the company’s skills programmes.
Gwen Parry-Jones was awarded the OBE in the New Year’s Honours list WBG-E01-S2
THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 9
Hinkley Point C case study ARC energy resources Welding and fabrication specialist Arc Energy Resources is one of the first SME manufacturing companies in the South West to achieve ready-to-supply status through the F4N programme. The Gloucestershire-based company received guidance and support from the Manufacturing Advisory Service AS and the Nuclear AMRC on what it needed to do to meet the required industry standards for supplying the nuclear sector. Arc Energy has worked closely with MAS over the last nine years on numerous projects to support the development of its team, business strategy and processes. During this period, the company has increased its turnover by more than 250 per cent, more than doubled the workforce and taken on a number of apprentices. Directors Alan and Rosemary Robinson said: “Every project we have completed with MAS has been valuable and has always improved the business. “Our shop floor is as organised and successful as it has ever been and communication is 10 times better than before. Production is so much more efficient and there is now an ethos of continuous improvement, with staff encouraged to put their suggestions forward. “Whenever we are looking to make improvements to our operations, MAS is the only organisation we consider.”
A £60 billion-plus nuclear new build and decommissioning opportunity is emerging in the region
Essential to focus on excellence in health and safety John Ruddleston is Fit For Nuclear (F4N) Assessor in the South West. Here he argues that a completely different mindset is required by management teams looking to enter the nuclear new build and decommissioning sector for the first time
Alan Robinson of Arc Energy comments: ‘Every project we have completed with MAS has been valuable and has always improved the business’
Small and medium-sized manufacturers in the South West must focus more emphasis on quality and health and safety if they are going to make the most of the £60 billion-plus nuclear new build and decommissioning opportunity provided in the region. The rallying call was made by John Ruddleston, Fit For Nuclear (F4N) Assessor in the South West, who is currently helping a number of companies in the region and from across other parts of England stake their claim for work – ranging from fabrication and maintenance to precision components and technical design. Mr Ruddleston believes a completely different mindset is required by management teams looking to enter the industry for the first time, with speed and cost
10 BUSINESS GUIDE 2015 THURSDAY JANUARY 22 2015
playing ‘second fiddle’ to exacting standards and a world class health and safety record. “For a long time manufacturers have had it drummed into them that they need to deliver quicker and take cost out of the equation, especially those supplying into automotive, food and, on some occasions, aerospace,” explained Mr Ruddleston. “Nuclear is very different. Of course they are looking for you to meet delivery dates and don’t expect to be overpriced, but there is more of a partnership approach to working with suppliers so they get the critical parts and services they require.” He continued: “The minimum quality requirement is ISO 9000, but companies will also need to prove they are working towards securing ISO14001 (environment-
al) and ISO 18001 (health and safety). “In addition, firms will have to demonstrate the right culture and behaviour, that they invest in training and importantly can achieve zero accidents in the production of their parts or the delivery of their services.” The Manufacturing Advisory Service recently joined forces with the Nuclear Advanced Manufacturing Research Centre to roll-out Fit For Nuclear, which lets companies measure their capabilities against industry standards and helps them bridge gaps to meet requirements. Backed by top tier partners, including Areva and EDF Energy, the initiative offers a business improvement journey that will identify strategy, implement new processes, secure necessary accreditations and provide supplier matching opportunities. It offers those participating SMEs the chance to apply for match funding for business improvement or research and development projects. F4N participants can also take advantage of the Nuclear AMRC’s Nuclear Connections initiative, which helps link manufacturers to specific supply opportunities from the industry’s top tiers. This is based on a detailed understanding of the production capabilities of individual companies and matching these to current and upcoming tenders, including the Nuclear Decommissioning Authority’s estate. Mr Ruddleston went on: “We now have funding in place to help an additional 300 manufacturers. WBG-E01-S2
“Fit For Nuclear starts with a capability questionnaire and online assessment, which will then be followed by a site visit from a dedicated F4N assessor. “They will start developing an action plan that will be verified by industry experts before a nuclear specialist is appointed to deliver the objectives and ensure you’re in the best position to win work.” The proposed investment is at least £60 billion in UK new build, with three development groups set to build 16GW of new capacity at five sites around England and Wales over the next ten to 20 years. According to the Nuclear Industry Association (NIA), the UK’s decommissioning programme is worth around £1.5 billion a year to companies in the supply chain. These contracts are available now and over many years at numerous sites. The technologies will also be exportable as Britain positions itself to support the decommissioning programmes of other countries. For further information, visit www.fitfornuclear.co.uk or contact MAS on 0207 728 3026. You can also follow @fitfornuclear on Twitter.
John Ruddleston is Fit For Nuclear (F4N) Assessor in the South West and is currently helping a number of companies in the region
Hinkley Point C
Somerset firms will feed the construction army A group of local food and drink producers have been awarded the interim catering contract for EDF Energy’s Hinkley Point C project, marking the first supply chain collaboration success story for the county. Somerset Larder will begin delivering the contract with immediate effect. The agreement runs until the spring of 2016, when the full contract for catering services at Hinkley Point C will be awarded. With a membership that comprises more than 20 local food and drink businesses, Somerset Larder brings together the finest produce and knowledge in the county, working together ‘under one umbrella’ in order to fulfil the large and complex requirements involved in major contracts. Somerset Larder was founded as a result of the Somerset Chamber
of Commerce’s supply chain activity. The Hinkley Supply Chain Team at the chamber has been working for some time to encourage and assist local businesses in forming collaborations that will help to put them in a strong position to bid for work at Hinkley. Somerset Larder’s directors are predicting widespread opportunities for the group, with this being the beginning of a movement that is expected to prosper well beyond the Hinkley project. Greg Parsons, MD of Somerset Larder and Cricketer Farm, says: “We are delighted to have been awarded the interim catering contract for Hinkley Point C, which will allow us to supply the workforce with locally sourced food from local suppliers. This achievement would not have been possible without the significant support from the Somerset Chamber,
the Somerset Larder board of directors and the EDF Energy team. However, this is merely the start and our focus now and into the future will be to ensure that Somerset Larder delivers the contract to the highest possible standards.” Nigel Cann, Site Construction Director at Hinkley Point C, says: “The South West regional economy will benefit by £100 million each year of peak construction and using local suppliers wherever possible is a key commitment for the project.” More than 5,600 people are expected to be on site at Hinkley Point C during the peak of construction, with the full catering contract including food halls, coffee bars and a central production kitchen serving both the site and worker accommodation campuses. Somerset Larder was established earlier this year as a private limited company (limited by guarantee), with a board of directors made up of representatives from seven of the founding companies. The Somerset Chamber’s Hinkley Supply Chain Team was instrumental in bringing the group together and has been working closely with the Somerset Larder directors for the past 18 months, helping them to bid successfully for the interim contract. Gerard Tucker from the Hinkley Supply Chain Team, says: “This is great news for Somerset Larder and for the county as a whole.”
Crucial connecting role
Somerset Larder brings together the finest produce in the county
The appointment of a new business liaison officer is expected to increase the engagement of North Somerset businesses in the Hinkley Point C project. Appointed by North Somerset Council, Sam Bodman will work within the Hinkley Supply Chain Team, which is managed by the Somerset Chamber of Commerce. For the past year she has been the data co-ordinator within the Hinkley Supply Chain Team, giving her a strong level of knowledge about the opportunities and specific requirements that the project will bring. The business liaison officer role has been created in order to support activity that will increase North Somerset businesses’ awareness of the opportunities around Hinkley Point C and encourage their engagement. Working with the Somerset Chamber of Commerce and EDF Energy, the business liaison officer will also act on North Somerset Council’s behalf in supply chain activity and will support capacity building and business collaboration to increase benefit to North Somerset businesses. Hinkley Supply Chain project manager Chris Langdon said: “In the short period that she has taken up the business liaison role for North Somerset Council, Sam Bodman has already engaged with over 60 suppliers in the area.”
www.bridgwater.ac.uk
TRAINING FOR BUSINESS with Bridgwater College, Somerset
Training your workforce for business growth and prosperity. We’re with you for the long-haul!
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THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 11
Actions speak louder.
EXCEPTIONAL performance
This year saw our sixth successive year of significant growth and national recognition for the quality of our service. During this time we have continued to invest in talent and infrastructure to ensure we perform at the highest level for our clients.
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12 BUSINESS GUIDE 2015 THURSDAY JANUARY 22 2015
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Professional Services
Growth on agenda in a competitive market place Change is something which the West’s professional services firms have been grappling with for some time but the pace is accelerating, reports Natalie Birrell. There are numerous factors at play but competitiveness is one of the key drivers. Many firms feel under pressure to deliver the best and most expert range of services – but at the lowest cost. And there lies the challenge. What strategies should firms use for survival and future growth? There was little investment during the recession, with many firms maintaining their profitability through cost-cutting and other measures designed to achieve economies of scale. Now, with confidence rising fast and many firms displaying a renewed appetite for spending, the sector is keener than ever to understand how the market is changing and where new business is likely to come from. Accountancy and investment management group Smith & Williamson’s 20th annual survey of Top 250 UK law firms revealed that confidence reached an eight year high towards the end of 2014. However, doubt is being cast on how sustainable this confidence is, with 71 per cent of survey respondents admitting that competitive pressures have risen further in the last year. Cash flow management was cited as the number one challenge. Ian Cooper, head of the professional practices group at the Bristol office of Smith & Williamson, said: “The legal services market plays an increasingly important role in the South West’s economic makeup and nowhere more so than in Bristol, where there is an ever-growing number of big-name firms. It’s sometimes said that there are now more lawyers in Bristol than the local market can support so increasingly firms are fishing in national and international waters or establishing themselves as niche market specialists. Interestingly, 33 per cent of South West-based survey respondents plan to open a new office in 2015, against just 16 per cent from other parts of the UK. “With the recession now behind
Debbie Farman, director of legal practice at Jordans Corporate Law and a former corporate transactional lawyer with Eversheds
them, law firms are understandably feeling bullish about their prospects. However, competitiveness is an ongoing issue. We are seeing a number of firms grasping the nettle and trying to address these pressures by developing and investing heavily in various strategies.” Fast-growing Foot Anstey has heralded several successes and impressive growth over recent years. The latest winner of Bristol Law Firm of the Year at the Bristol Law Society Awards, the firm recently won a spot on The Royal Shakespeare Company’s inaugural official legal panel. The firm, which has five offices across the South West, has also recently been recognised as amongst the most innovative in the industry with its presence in the annual Financial Times Innovative Lawyers report. This recognition is the latest for the company, which was also recently shortlisted for UK Law Firm of the Year at the British Legal Awards 2014. Law firm Withy King’s most recent strategy to acquire market share through acquisition has been part of a three-pronged plan which began with building a robust, sustainable platform for growth, followed by a period of organic expansion within its existing markets. In 2014, Withy King acquired Lemon & Co in Swindon and Edward Pilling & Co in Oxford, having acquired Whetter Duckworth Fowler the previous year, further strengthening its strongholds in Wiltshire and Oxfordshire where it has several offices. The firm is headquartered in Bath. Managing partner Graham Street believes the key to a successful strategy is to focus on the specifics of your own business rather than following the crowd. “It’s about understanding your own business and value chain as well as what clients value most about your service offering,” said Street. “It’s easy to get carried away by theory and rhetoric, forging strategies based on perceived needs and expectations, but this won’t work if it doesn’t have solid, well researched foundations. “The pace of change within the legal market is unprecedented but the appetite for legal services is strong and growing. Clients have far greater choice than ever before
Above; John Westwell, Foot Anstey's managing partner. The law firm enjoyed a strong 2014 and is well positioned to grow further in 2015. Below right; Ian Cooper, head of the professional practices group at the Bristol office of Smith & Williamson
‘Businesses have to find new and interesting ways of reacting to the market and those that do, will survive and prosper’ WBG-E01-S2
and firms are dealing with the increasingly competitive environment in their own way. We have worked hard to understand what clients value most, the markets we operate in and what differentiates us from our competitors. “It’s not about doing more of the same, it’s about understanding what is required and doing it better than the competition.” The consensus among many law firms is that differentiation is key. Nigel Muers-Raby, head of marketing at Somerset and Dorset-based law firm Pardoes, said: “Businesses have to find new and interesting ways of reacting to the market and those that do, will survive and prosper. Our strategy has been to focus on higher net worth individuals and families, many of whom are also land and business owners based in the market towns, villages and surrounding countryside. We are building a firm that has the feel of the ‘family solicitor’ – a single point of contact, with an emphasis on personal relationships – supported by teams delivering a range of core services including family, private client, property, commercial and employment law. While increased competition has led to casualties, particularly in the high street, there are still plenty of opportunities for good quality, mid-sized, regional fir ms.” One of the newest entrants to the West’s legal market is Jordans Corporate Law Limited. Formed out of its parent, Jordans Limited, itself a long-time provider of services to professional firms, Jordans Corporate Law has grown in its first year by providing corporate and commercial governance and legal advice to the business world. Debbie Farman, director of legal practice at Jordans Corporate Law and a former corporate transactional lawyer with Eversheds, said: “To become and remain competitive, it is important to find a differentiator in your service offering. Our market research has shown that the sophisticated buyer of legal services, in particular, is looking more to specialist niche firms, with a view to getting the best quality service, whilst keeping costs down.” Mrs Farman said Jordans established its law firm following pressure and encouragement from its existing client base. “We have continued to listen to the needs of those clients through our first year. Whilst we are able to practice other legal disciplines, we have chosen to concentrate our efforts on corporate and commercial governance and growth structuring for businesses, looking after the internal “heart” of a business. Firms can survive, and flourish, if they continue to work on their strategy for growth and listen to what the buyer wants – which, I strongly believe, is no longer the full service offering.” In spite of the challenges, Ben Tarrant, immediate past president of the Bristol Law Society, and partner at TLT, believes firms are right to be confident. He said: “There is a renewed optimism in the region and 2015 will be full of
CONTINUED OVERLEAF
THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 13
Professional Services Office moves demonstrate confidence
FROM PAGE 13 opportunities. Growth is being driven by increased investment in infrastructure, an improving housing market, increased lending by banks and the creation of new jobs. “A number of law firms and other legal businesses have either moved into or strengthened their position in the region. There has been consolidation in the South West market and law firms continue to demonstrate that they can adapt and thrive, offering excellent client service to rival the best around the country. “Turnover and headcounts have increased over the last 12 months and there is the expectation that this will continue in 2015. South West-based law firms are also proving successful at winning good quality work as a result of competitive pricing, excellent service delivery and by attracting top talent from other national or City law firms. There are some serious heavyweight national and international firms operating out of the region.” Accountancy firms are also dealing with competitiveness issues, but in different ways. Three of the Big Four accountancy firms, PwC, KPMG and most recently EY, have been granted Alternative Business Structure (ABS) licences which allow them to offer legal services. While this puts even more pressure on traditional law firms, the accountancy profession argues that it is no different from the increasing number of legal practices now offering business advice and financial services. The lines are set to blur even further as lawyers and accountants move away from more traditional models in response to their changing environments. The biggest accountancy firms have been looking at alternative ways to extend their reach, with some now actively targeting their services towards smaller businesses with real growth potential. This is partly due to anticipated changes to the audit threshold, which are expected to take even more privately-owned businesses out of the loop, forcing larger practices to look elsewhere to fill any revenue gaps. One of the most significant changes that accountants have been getting to grips with, particularly at the smaller end of the spectrum, is the rapid rise in the use of cloud computing packages. The cloud presents opportunities as well as challenges as clients’ needs evolve and accountants gear up to help them make the most of these new systems. Stacey Morrison, business manager at Old Mill, based in Wells, said: “Cloud computing helps businesses to improve their efficiency and agility to give them a competitive edge. Integrated bank feeds, invoice scanning and data entry from mobile devices allow business owners to see key performance indicators on an almost real-time basis. “The role of the accountant shifts from basic number crunching to being a ‘virtual finance director‘, with time to help the owner to understand figures,
The renewed confidence of Bristol’s professional services sector is reflected by two of the biggest operators paying what are thought to be record rents for new premises. Accountant PWC is moving into No 2 Glass Wharf in the Temple Quay Enterprise Zone. It was reported earlier this month that it was paying £28 per square foot for the 40,000 square foot offices. Meanwhile it has been confirmed this month that rival firm KPMG will be the anchor tenant for a major Bristol office development. It has agreed to let most of the 66 Queen Square development due to be ready in the summer. The project, part new-build and part refurbishment of a period building, was one of the first speculative office developments in Bristol since the recession. Alex Jordan, leasing director at developer Skanska, said: “We are delighted that KPMG will be the main tenant for our first UK commercial development project in
‘New office in Queen Square will provide staff and clients with top quality office space’
Chartered accountant Edward Corrigan, president of the ICAEW in the West of England and owner of Corrigan Associates
Cloud is driving a change
Stacey Morrison, business manager at Old Mill, based in Wells
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advise on early identification of problems and how to move the business forward to meet their aspirations. “As many of our clients are already using cloud packages to generate management information, we have been investing in training and technology to ensure we are able to help businesses transition to cloud services smoothly, as well as ensuring they get real value from the systems.” Chartered accountant Edward Corrigan, president of the ICAEW in the West of England and owner of Corrigan Associates in Bristol, said overall cloud computing was having a positive impact, allowing accountants and clients to share
information and interact in realtime and in a more cost-effective way. Most practices nurture their existing clients carefully and many have been able to grow in line with their clients’ expanding needs,” explained Corrigan. “Attracting new clients continues to require a focussed marketing effort. Many smaller accountancy practices, like the larger firms, are looking at ways to broaden their offering, positioning themselves as business advisors rather than just compliance providers. Marketing has an increasingly important role to play, with more accountants and business advisors looking to get to grips with social media in 2015.” WBG-E01-S2
Bristol. As developers working with our own construction team, we have been able to adapt the design of the building to fit with the needs of our tenant, while securing the longest lease in the city in recent years.” The professional services firm has agreed a 15-year lease for the first, second and third floors and part of the ground floor, filling 52,000 square feet (4,831 sq m) of the 61,000 sq ft (5,667 sq m) Grade A office building. Phil Cotton, Bristol office senior partner and south regional chairman at KPMG, said: “This significant investment underscores our commitment to Bristol and the importance of the city to our business. We have achieved continued success and growth in our marketplace, adding £17 million to our income over the last two years, and I am pleased to be able to plough these profits back into the business and invest in new flagship premises in Bristol. “Our new office in Queen Square will provide our colleagues and clients with top quality office space.”
KPMG has taken the majority of the space at the flagship 66 Queen Square development in Bristol, at a reported record £29 per square foot
Professional Services
Foot Anstey has recently won a new – and slightly different client – the Royal Shakespeare Company
Profile Foot Anstey Through its network of five offices across the South West Foot Anstey works together as one national team offering specialist legal advice and services to regional, national and international clients, both businesses and individuals. Foot Anstey is among the UK's top 100 law firms, with just under 50 partners and approaching 500 staff.
Headed by managing partner John Westwell, Foot Anstey has achieved consistent growth and strong financial performance and is on track to achieve its ambitious financial targets. It has grown organically through a bold, agile strategy that has attracted the attention of the industry. It has been named in numerous awards that include the British
EXCEPTIONAL performance
Legal Awards, MPF Awards for Management Excellence and South West Business Insider. The firm specialises in numerous legal disciplines but two areas in particular stand out. Islamic finance is a key growth area for the firm. Foot Anstey is in a unique position as the only firm outside of London to offer specialist expertise in this developing field and the Islamic finance team has enjoyed considerable recent success. Headed by Imam Qazi, the team advise Islamic banks and Middle Eastern investors on a range of high value and complex transactions, creating structures to allow conventional and Islamic financiers to work together.
2014
2010
Growth of 13.6%
Investment in IT software; InterAction
2008 John Westwell becomes Managing Partner UK officially enters recession
Imam Qazi heads Foot Anstey’s Islamic finance team
2012
New clients include The Eden Project
TURNOVER
£27.5m TURNOVER
35% growth in turnover over past 5 years
Islamic Finance specialists advises on £19million acquisition of Everything Everywhere’s Bristol office at Aztec West
£19.4m
Shariah-compliant transactions are structured on the principle of profit and risk sharing. Through this process, banks become closely involved with customers’ business. This ethical financing system prohibits exploitation, meaning conventional financing mechanisms, such as interest (riba), are precluded. Islamic finance is now an established alternative to conventional financing in the UK and is assisting with and benefiting from the increasing amount of inward investment from the Middle East. “Islamic finance is fast becoming the prevailing method of finance in some Middle Eastern states, a region where conventional finance once dominated,” said Imam. Foot Anstey's private equity team has also seen significant growth recently. Its specialist and dedicated private equity group advises institutional investors, management teams, investee and portfolio companies and banks on the full life cycle of private equity transactions. It advises on transactions throughout the UK as well as internationally and are equally as comfortable advising a management team on a mid market private equity backed MBO as on an EIS compliant fundraising by a start up venture. Equity incentivisation of management teams is a key specialism of our private equity offering. Recently shortlisted for Young Dealmaker of the Year at the SW Business Insider Dealmaker Awards, Matt Stoate leads the team which includes people that have worked in private equity departments for City law firms and corporate finance boutiques. The two teams work closely together and provide services and bespoke advice to numerous players in the fast paced and complex finance market, with expertise and costs rarely found outside London.
Islamic Finance specialist recognised amongst The Lawyer’s Hot 100 Awarded Bristol Law Firm of the Year by Bristol Law Society
Banking practice strengthened
Foot Anstey is definitely one to watch The Lawyer, 2008
£20.6m TURNOVER
11 new partners recruited Salt Quay House wins award, Commercial Development of the Year
Winners Regional Law Firm of the Year, British Legal Awards
Bristol headcount now 60
Bristol office opens with 15 staff
2013
Talent acquisition strategy begins
2009
Winners Property Law Firm of the Year, SW Business Insider
2011 WBG-E01-S2
WE’VE BEEN ON A JOURNEY, THE RESULTS HAVE BEEN IMPRESSIVE. THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 15
Green Capital Businesses of all shades will be hoping they can benefit from the South West being used as a test-bed for innovative green technology during Bristol’s year as European Green Capital, writes Jeff Wells The South West has the opportunity to reap a technological reward from Bristol’s European green capital status. The city is being used as a test bed to trial some of the latest transport technology designed to minimise fossil fuel use. Cutting-edge green technology for buses will be developed on the city’s streets – thanks to a £1million grant from the Government. Transport Minister Baroness Kramer announced that Bristol will receive the funding to buy a number of new hybrid buses, which can automatically switch from diesel to electric in areas of poor air quality. The buses will use GPS navigational technology to switch to electric power when they enter low-emission zones. Bristol City Council will use the data collected to evaluate the benefits to the city environment as well as their operational impacts for the bus service. Mayor George Ferguson said: “This is perfect timing for Bristol to test such advanced technology, as we start our year as the UK’s first European Green Capital, which is very much about the health of the city. “This ‘geo-fence’ technology will enable vehicles to recognise when they enter the areas of the city where we have the most significant air pollution problems and then switch to a green electric mode. “We need to exploit these new technologies to help us reach a future where we can all enjoy cleaner air, and a healthier future where streets are no longer clogged with traffic, where public transport provides an affordable, quality alternative to the car, and it is increasingly attractive to walk and cycle.” The city council will shortly launch a competition to select a bus operator in order start the
An environmentally friendly bus that developers say will improve air quality runs on a rather unlikely fuel – human waste
Capitalising on green status ‘We need to exploit new technologies to help us all enjoy cleaner air’
trial before the end of this summer. The exact area that the buses will operate using the “geofence” technology is yet to be decided. This is not the first new transport technology that Bristol is piloting during its year as European Green Capital.
A bus powered by gas produced from human waste – inevitably dubbed the ‘number two’ route – is already in operation serving Bristol Airport. And the city council is part of the Venturer consortium, which has recently secured funding to test driverless cars in the Bristol
new jobs and homes at Filton Airfield and a £21 million revamp of Temple Quarter Enterprise Zone are all on the cards this year. All of these are fantastic stepping stones that will further drive confidence, jobs and growth . This year, Bristol is firmly in the international spotlight as the first UK city to be European Green Capital. We have barely scratched the surface of 2015 but already we have seen a £1 million government grant for diesel-electric hybrid buses and anecdotal stories such as Bristol Airport acquiring an electric vehicle. February will see the launch of our Go Green initiative in partnership with Low Carbon South
West, setting an ambitious target to engage with more than 1,000 employers this year to demonstrate steps to reduce their environmental impacts as well as inspiring and challenging them to do more. This momentous year is packed with initiatives and activities which will showcase sustainable urban living in the 21st century and how we want to go further. As well as ringing in the green, bells have also been sounding for new political powers since the Scottish Referendum kicked off a wider devolution debate in September last year. The next step, of course, is to give our city region the powers to raise and spend the money to develop our
region. Bristol is also encouraging people to switch to electric cars by installing charging points across the city and by spring it will reach 100 charging spaces. Venturer is made up of many organisations in the South West including Atkins, Bristol City Council, South Gloucestershire Council, AXA, Williams Advanced Engineering, Fusion Processing, Centre for Transport and Society, as well as the universities of the West of England and of Bristol and their joint venture, the Bristol Robotics Laboratory. Lee Woodcock, Venturer project lead and technology director for Atkins’ highways and transportation business, said: “We are thrilled to be appointed by Innovate UK to lead the UK development of an independent test site for, and a market leading capability in, autonomous vehicles. “This programme will help keep the UK at the forefront of this transformational technology, helping to deepen our understanding of the impact on road users and wider society and open up new opportunities for our economy and society.” Mr Ferguson said: “Bristol has a deserved reputation as an innovative city and test-bed for new technologies, as we have just been recognised with the International Award for Urban Innovation by our sister city Guangzhou. As such we are delighted to be part of the Venturer project that brings together high-quality knowledge and development with an enthusiasm for creating digital solutions. “The novelty of Bristol’s approach is our focus on publicprivate-citizen partnerships, championing experimental solutions through the deployment of information and communications technology (ICT) and digital technologies in a people friendly manner. “Bristol City Council and South Gloucestershire Council have a long-standing commitment to sustainability and we place green issues at the heart of our vision for the city. “To help achieve this, significant investment is being made in renewable energy schemes.”
Time for change James Durie The start of the year is always a good time to reflect on what’s been achieved in the past 12 months. And we’ve certainly got plenty to celebrate. Bristol has made some big strides forward. That said, in an uncertain global economy, and with the UK recovery still fragile, there’s absolutely no room for complacency, especially with an unpredictable general election looming in May. Over the last few years, despite a prolonged downturn, the Bristol city region economy has consistently outgunned most major UK cities by being prepared to do things its own way and playing to its strengths. Yes, we’ve successfully built on our core sector
strengths and our strategic assets. But more than that; business and talent continue to be drawn to this area because it’s a great place to live. National media and influencers are picking up on this with The Sunday Times rating Bristol as the UK’s ‘best city to live in’. Make no mistake: it’s because the city, as a region, has put up such a united front to investors, developers and the Government itself, that major opportunities – such as the Enterprise Zone, rail electrification, the arena, the M49 junction, the South Bristol Link and the new Metrobus – are now being delivered. In addition applications for an extension to Cribbs Causeway, thousands of
16 BUSINESS GUIDE 2015 THURSDAY JANUARY 22 2015
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economy and communities. At present, it’s being siphoned off to Whitehall and redistributed according to their priorities – not ours. So 2015 also has to be the year when we surely must step forward and harness the national appetite for devolution to give us far more control of our own destiny. We must not miss this opportunity to take the next step in governance with the right powers transferred to the right levels. 2015 could be the year where – by doing things differently – we build a sustainable platform not just for ourselves, but for future generations of Bristolians too.”
James Durie is executive director of Bristol Chamber of Commerce & Initiative
Your local world class data centre Whether you’re growing, an established business, or a service provider, NGD’s purpose-built high security data centre can cost-effectively support all your data and cloud computing requirements - large or small: l Resilient: Tier 3+ electrical and cooling infrastructure for total resilience
l Scalable: Flexible accommodation in shared or private data halls and pods allows room for future expansion
l Secure: triple skinned walls, bomb proof glass, prison grade perimeter fencing, anti-ram bollards, military trained security
l Responsive: on-site engineering and sales support for server and network installation, 24/7 technical assistance,
personnel; ISO 27001, IL3+ and PCI DSS certified
l Convenient: close to Bristol and M4
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l Green: 100 % renewable energy and efficiency commitment allows lower cost power and carbon tax exemption
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Formerly SAS 70
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THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 17
Information Technology
World-class data centre holds future for our businesses Profile NGD
High-profile hacks that saw private photographs of Hollywood star Jennifer Lawrence, among others, leaked onto the internet and the intense embarrassment and commercial damage suffered by Sony when it was hacked, allegedly by North Korea over controversial film The Interview, have brought into focus how critical data security is. But are businesses in the West taking enough steps to protect their vital IT infrastructure?
18 BUSINESS GUIDE 2015 THURSDAY JANUARY 22 2015
For businesses in the South West, concerns over data loss or unplanned downtime could be a thing of the past with the availability of truly world-class data centre facilities from Next Generation Data. The UK-owned operator has invested millions in building the biggest and most secure data centre in Europe for storing data and powering cloud, web and data hosting services on behalf of all types of organisations – day in day out. The good news is that unlike most other global data centres of this calibre, the NGD Europe data centre is purposely located well away from London and the South East. In fact, its close proximity to Bristol and the M4 and M5 makes it conveniently located to the whole of our region and beyond. Already ‘home’ to some very large government and multinational organisations providing their own data and cloud hosting services, BT, CGI (with offices in Bristol), IBM and Wipro included, NGD is also fast becoming a haven for smaller and growing businesses across the region and is keen to attract more. Locally-based companies such as Computershare Technology Services (UK), Hub Network Services, UNIT4, Ovo Energy and Southern Telecom have already taken advantage of NGD’s modern purpose-built facilities to more securely store and manage their data, and in some cases deliver their own cloud service solutions to other businesses in the area and further afield. As firms continue to recognise the strategic importance of IT to their business performance, NGD is under no illusions about the absolute necessity of keeping customer data safe and all the potential risks posed, from the inherent ‘fragility’ of web and cloud infrastructure, to things altogether more sinister such as cyber or even physical terror attack. “With more businesses in the region relying on applications and services supplied through cloud providers or directly placing their own critical IT systems in the hands of colocation data centres, it is vitally important they fully evaluate the reliability, security and disaster recovery credentials
of their chosen providers – otherwise it could be case of out of the frying pan into the fire,” advises NGD’s chief executive, Nick Razey. “While it makes total business sense to outsource IT for ensuring greater security and to increase competitive edge by accessing the latest technologies, there are very few data facilities out there up to the job of supporting the IT and data storage demands of today’s dynamic service providers and growing businesses.” Not only does NGD’s strategic location in a semi-rural area serve to enhance its formidable security credentials which include triple skin walls, bomb-proof glass, antiram bollards, prison grade perimeter fencing and trained security guards, it affords customers much lower pricing compared to London and the South East. There’s also access to more reliable power thanks to a direct connection to the National SuperGrid. Unusually, all power is sourced from renewable energy, including solar, which also enables customers to reap the associated green benefits such as lower cost energy, carbon tax exemption, not to mention enhanced corporate social responsibility credentials. At 750,000 square feet (the size of London Heathrow Terminal 5) and with enough power available to supply Bristol, NGD offers the space and flexibility to suit businesses of all shapes and sizes, costeffectively housing one or literally hundreds of server racks necessary for supporting immediate and future computing requirements. Apart from the cutting-edge ‘Tier 3+’ facilities and IT infrastructure on offer, NGD hasn’t overlooked the human touch with highly qualified on-site engineering and sales support personnel on hand for managing customer equipment installations, providing round-the-clock technical assistance, equipment advice and supply, managing conference room requirements, and much more besides. With facilities and resources such as these on the doorstep, the region’s businesses can be assured there’s no safer place on Earth for entrusting their data.
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Main picture; Nick Razey, CEO Next Generation Data (NGD) Europe at the official opening of NGD Europe one of the word’s largest data centres. Above, the £200 million data centre, which has its own on-site power sub station
Information Technology Expert View Simon Taylor
How does your Data Centre measure up? 1. Prerequisites High security, abundant power, fast network links and demonstrable energy efficiency should come ‘as standard’ – check industry accreditations for proof (ISO, PCI DCI and BREEAM) 2. Location It may appear ‘convenient’ to use a colocation partner in a nearby converted office building but there may be insufficient space and power for future expansion. Consider too the impact of the location on business continuity and security – being away from flood plains, large urban areas and flight paths reduces exposure to the risks 3. Engineering support Check the level and calibre of engineering support available on-site for assistance on server configuration, rack installation, capacity planning etc. 4. Terms and conditions Are these straightforward and will they meet your needs today as well as tomorrow? How is power charged – is it metered per rack/per user? 5. Speed of deployment How quickly will your racks be installed, tested and operational? Is it just a matter of hours or several days? The difference can impact significantly on productivity and installation charges
6. Access to data Is there a legal agreement in place should your cloud provider or data centre go into administration? An escrow agreement will ensure you have legal access to retrieving your data 7. Resilience and disaster recovery Are sufficient back-up systems and fail-safe measures in place to mitigate unplanned downtime? How quickly will services be resumed should the worst happen? ‘Tier 3’ category data centres should be used as a minimum
‘Being away from flood plains, large urban areas and flight paths reduces exposure to risks’
In this digital age all businesses are effectively IT businesses, no matter what they actually make or sell. Just about every company is an IT company whether in retail, professional services, manufacturing or whatever. IT underpins the systems and processes and more importantly will usually offer the key competitive edge, manage and pay the personnel, control suppliers and their costs, manage prospects and analyse customers buying habits, not to mention monitoring sales and powering web sites. But the click-of-a-button efficiencies and competitive edge made possible by all of this sometimes obscures the realities of life for many firms of all shapes and sizes. That is, the data, web and cloud computing solutions their business eco-systems increasingly depend on are only as good as the quality and reliability of the servers and networks supporting them. If these breakdown, suffer a security breach or a natural disaster such as from fire or flood, some or all business operations are likely to be affected, often with serious consequences. Over the past twenty years or so, larger businesses have typically addressed these issues by building their own data centres close to office premises to house their mission-critical servers and storage equipment. But this approach has had its own problems, not least the considerable capital expenditure involved in construction and the headache of keeping up to date with latest hardware and software developments. Energy efficiency has also become a major challenge, with spiralling power costs and taxes on carbon emissions. With this in mind and amidst a growing realisation that IT is key to business agility and competitive advantage, many larger businesses, including a few in this region, are increasingly outsourcing some or all of their IT operations to specialist ‘colocation’ data centre operators. These provide customers with space, power and infrastructure to house and operate their own IT servers, or alternatively manage this for them. But though cost-effective for larger companies such an option has not been so viable for SMEs here or elsewhere in the UK due to high costs and lack of quality. Even though these firms are becoming increasingly aware of the risks of keeping missioncritical data in insecure computer rooms or committing it to the cloud, many managers have been left with little or no choice than to continue to do so. While most certainly cloud providers can offer them many benefits in terms of pay-as- you- go and access to the very latest business applications, these services still depend on the reliability and security of servers in data centres somewhere. So unless you know and trust the data centre behind WBG-E01-S2
‘If these breakdown, suffer a security breach or a natural disaster such as from fire or flood, some or all business operations are likely to be affected, often with serious consequences’
your cloud provider, storing mission-critical data in the cloud can be risky. Fortunately for SME businesses there is a wind of change blowing through the data centre services industry and it’s heading this way largely thanks to the tumbling cost of high-speed fibre networks. These are provided by telecom carriers and internet service providers (ISPs) and are essential for carrying data practically anywhere between everyone and everything. Their relative low cost now makes it much more viable for operators to take the kind of next generation data centre facilities traditionally clustered around London close to the telecom exchanges and replicate them much further afield. This means larger and higher calibre colocation data centres will no longer remain the exclusive preserve of very large businesses and will become increasingly accessible and affordable for small and growing firms in regional areas. NGD is one of the first operators make a very large state-of-the-art data centre available in the South West region, an area which has been somewhat under-served so far. At 750,000 square feet, the facility has the economies of scale as well as the power and resilient infrastructure necessary for accommodating and future proofing any company’s data storage requirements, large or small. It also functions as a major regional hub for multiple international telecom carriers and ISPs to ensure customers can be connected far and wide, including millisecond latency to London. Apart from the security and business continuity benefits this new breed of mega data centre can undoubtedly provide compared to the alternatives discussed, it also brings significant cost savings on IT energy usage and carbon emissions taxes. This is due to major investments in the very latest energy optimisation and cooling systems and a total commitment to using renewable green energy. As the strategic value of IT to businesses of all kinds continues to grow along with demand for more secure and resilient data facilities, it is only a matter of time until more data centre operators follow our lead in building modern facilities in the South West, furthering our vision of transforming the region into a major international data centre hub and alternative to London. This can only be good news for the continued security and future prosperity of businesses based here. Equally, in our digital age, the ‘magnetic’ effect of large world class data centres in attracting national and international businesses and talent cannot be underestimated, to the benefit of the region’s economy as a whole. Web: www.ngd.co.uk
Simon Taylor is chairman of NGD
THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 19
Aerospace
Vital sector can continue to power region’s economy
“Composites are very much part of that. There are new ideas all the time on how to use composites, it’s a key area, along with additive layer manufacturing (3D printing). “There is an expertise emerging here in these areas.” He explains the strategy is about businesses and other organisations working together for mutual gain. “We are trying to create a strategic landscape that can help the whole supply chain move forward faster and more coherently than it currently does,” he says. The future of the Filton site will be a key part of that strategy and Mr Young is keen to get it right. “We’re trying to achieve a balance so that amount of enterprise land is neither so excessive that you can’t build enough houses but neither are we being choked off so that we don’t find in five years’ time that there’s a fantastic opportunity but we just don’t have the real estate. “Industry can’t say ‘we want half the site but we don’t know what we are going to do with it’. “But it does take industry longer to crystallise what those needs are.” The aerospace industry is used to working in long cycles. It takes years to design and build a new aeroplane. But if the development of Filton really is an opportunity for the sector, it needs to move quickly or risk seeing that it pass by. It is indeed time for WEAF to spread its wings.
Flying high Simon Young The aerospace sector across the South West is world leading, but it will take planning and foresight to keep it that way. Gavin Thompson meets Simon Young, the man in charge of the industry body trying to pull the vision together Filton is a once-in-a-generation opportunity for the aerospace industry, according to Simon Young, chief executive of the West of England Aerospace Forum. That remark might surprise some in the wider community, who looked on the closure of the airfield by owner BAE Systems in 2012 as a harbinger of doom for Bristol’s aerospace industry. “That’s not a language I hear at all,” says Mr Young, not quite falling off his chair. “I hear the opposite. The passion among the businesses already here who think ‘we are where we are because of the what’s gone before and the skills here’. “The language from industry is not about leaving, it’s about sustaining and growing. The future is fantastic. This is certainly not about aerospace leaving Bristol. “Filton has been at the centre of aerospace for 100 years,” he adds. “Look at the heritage around Filton. Concorde, Rolls-Royce, GK, it is immensely rich heritage and with the big names there now we feel passionate about not wasting that heritage.” He says the development of the airfield is an opportunity for the industry. “It’s brilliant that the Bristol Aerospace Collection Trust is going to create an incredible learning facility based around the past, present and future,” he says.
Simon Young, chief executive of the West of England Aerospace Forum
“It’s a misnomer to just call it the Concorde museum, though that will be a magnificent centrepiece. What that will do to enthuse and engage young people and teachers about the brilliance of engineering is phenomenal.” Yes, Mr Young admits people in the industry were saddened by the airfield closure, but things change. “Whilst we would all love to have seen the airfield stay active, it can only stay active if you have got a demonstrable need for it,” he says. “So we acknowledge it’s a great opportunity to service the social economic need for housing. “But we also want to see that aerospace exploits the opportunity to sustain those high-quality, high-value jobs that keep the South West and UK at forefront of design and technology. “We are working with the local authority and the Local Enterprise Partnership and BAE Systems, which owns the land, to ask ‘can we have a suitable area made available that we can use to put new capabilities in’,” he says. “Some of those maybe specific industry needs, such as a company wants a building there, or could be more collaborative such as supply chain incubator units. But make no bones about it, it will be a jewel in the crown.” This means making sure the land freed up by the closure is put to the right use, and specifically that enough of the right kind of space is there for the aerospace industry to expand. “It can be far too easy for developers to meet the demands for employment targets for the land by putting high-density jobs in it,” says Mr Young. “Call centres and offices all play a part in our economy. But the high-skilled jobs that are associated with aerospace don’t come from high-density sites.” The challenge is for industry to be quick enough to influence the planning process. And that’s where WEAF has a big role to play. The organisation has evolved in recent years. It was largely funded through the South West Regional Development Agency and had around 800 members. When the agency was scrapped, it was left to find its own way. A subscription fee was introduced and although membership plummeted to closer to 150, the
20 BUSINESS GUIDE 2015 THURSDAY JANUARY 22 2015
What is WEAF? The West of England Aerospace Forum is a membership organisation for the industry across much of the South West, from Tewkesbury to Cornwall. It aims to help members grow, be more competitive and offer them support. It runs networking events, offers professional services and also delivers funding projects, such as NATEP.
What is NATEP? An Airbus engineer assembling wings at its factory at Filton organisation become self-financing. The not-for-profit body now employs eight people at its offices in Clevedon. Mr Young joined as chief executive in last January, leaving a teaching job in Oxfordshire to return to aerospace. He had previously had a number of roles including running the avionics division for what was then Smiths Aerospace and is now GE Aviation Systems near Cheltenham. Go back further and he was a jet pilot in the Royal Air Force. The aerospace sector has been working with Government to draw up a national investment strategy called the Aerospace Growth Partnership, and WEAF has taken on the task of developing a local vision.
PICTURE: SIMON GALLOWAY
“Everybody was saying this shouldn’t be owned by Airbus, AgustaWestland or Rolls-Royce, it’s sector strategy,” says Simon. “They turned to WEAF and said ‘it’s about time you guys stepped up to act as custodian of this on the sector’s behalf ’ and that’s the role WEAF is now playing.” Innovation Aerospace – or iAero – is becoming a blueprint for how the sector will develop in the coming years in Bristol and the South West. Mr Young said: “It’s a strategy focusing around the things we are good at. We are leaders in wing design, wing integration, engine controls and integration onto wings, rotary aircraft integration and design. The strategy is about sustaining that expertise and staying out in front. WBG-E01-S2
The National Aerospace Technology Exploitation Programme. It is a scheme were businesses can secure funding up to £150,000 for products or services that are past the concept stage but where the company us struggling to give it a final push to make it saleable. There are several criteria: It’s got to create new jobs or at least preserve existing ones. It has to be collaborative, making companies look for other companies or academia to work with. And it has to have “end-sure validation”. That means getting a potential end user for the product to agree it’s a good idea. That process helps the manufacturer to hone the product and make sure there is a market. Several rounds have already passed but there are further deadlines in March for applications.
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THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 21
Manufacturing
Being prepared for technological advances is key Outlook Right tools are essential The West Country’s biggest manufacturing firm believes such are the rapid changes in technology that supply chain firms really need to be on their game to thrive in future. Airbus chief operating officer Tom Williams believes suppliers around Bristol need to push the boundaries of technology around composite materials and 3D printing. “With 3D printing we have not yet fully exploited the potential,” he told our sister paper the Bristol Post last week. “Most things made in this way have been simply copying a part we have already designed and made. The next step will be to combine several parts. That will be big the change in the next three or four years.” The only Brit on the board at Airbus finds it hard to envisage a completely 3D-printed plane any time soon. Instead, he’s looking to keep depending on the supply chain in the South West, which he believes to be in good shape. “GKN is one of our biggest suppliers and a partner and we have a great working relationship with them,” he said. “There are a lot of small and medium-sized enterprises around the Bristol area too, particularly around structure design and parts with engineering capability.” Another challenge is recruitment. Sitting at the top of the food chain, Airbus can attract the right level of talent but he believes it is vital for Airbus that its suppliers further down the chain can do the same. “We have to make sure we encourage enough young people to do the science, technology, maths and engineering subjects,” he said. “You can’t really be successful in our business without a strong grasp of mathematics and physics. “In particular we need more women and we are encouraging girls to keep studying maths at A-level standard.” Meanwhile Simon Howes, the Manufacturing Advisory Service area director for South West England said it is vital manufacturers keep up with latest technology and operate efficiently. He said: “Over the last year, the MAS, which is now part of the Business Growth Service, has worked with a number of ambi-
tious and innovative manufacturers in the West Country and I continue to be inspired by their drive to keep looking for opportunities to improve, diversify and expand their operations. “This commitment to growth is highlighted by the results from our most recent quarterly manufacturing barometer survey, which revealed that nearly two thirds (61 per cent) of SME manufacturers in the region intend to invest in new technology, machinery or premises by the spring of 2015. “In the year ahead, MAS will continue to support and encourage businesses to tap into opportunities presented by significant projects planned or under way, including Hinkley Point, Crossrail and HS2, as well as through key growth sectors such as marine and offshore wind. “The contribution of the South West’s manufacturing capability in supply chains such as aerospace, defence and food and drink is also to be commended. “In collaboration with UK Trade & Investment, we are also working closely with manufacturers that are actively looking to bring production back to the UK or win work that had previously gone overseas. This will help create jobs and further support the local and national economy. “The tenacity and creativity of the region’s manufactures never ceases to amaze me and I have a great deal of confidence in them. We are committed to help them succeed.” One of the firms that MAS works with is Probiotics International. The firm, which is based in Lopen, South Somerset, manufactures a range of innovative, research based probiotic products for the veterinary, human, agriculture and equine healthcare markets. It has increased its turnover by 40 per cent and is exporting to more than 50 countries after investing £500,000 in state-of-the-art equipment after a detailed analysis of its production processes. Led by MAS, the review highlighted that some equipment was not operating as efficiently as it could and other machinery needed replacing. Toby Lewis, managing director of Probiotics International, explained: “A number of our team
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From top; Airbus board member Tom Williams; Toby Lewis, managing director of Probiotics International Ltd and Craig Peterson of Future Advanced Manufacture in Cheltenham with MAS advisor John Phillipart.
‘The tenacity and creativity of the region’s manufactures never ceases to amaze’
leaders attended a MAS workshop on lean manufacturing where they were introduced to tools and techniques that enabled them to look at the business from a different perspective. They were able to visualise how significant improvements could be made through reduced changeover and cycle times. We went away from WBG-E01-S2
the project empowered to implement changes for the good of the business.” Another firm which hails the support it received from the organisation is Future Advanced Manufacture, which is based in Cheltenham. It has increased its turnover by 30 per cent and created 20 new jobs after reshaping its business model. The company, which manufactures a range of high precision components for the aerospace, oil and gas, marine and defence industries, benefited from a strategic review of its business model as well as detailed analysis of its production processes. Within a year, the business achieved its goal of achieving a 50/ 50 split between R&D and high complexity, repeat manufacture. This enabled it to consolidate operations by bringing all business units together under one roof at a new 38,000 sq ft factory, which in turn has led to a 15 per cent increase in efficiency. Craig Peterson, managing director of Future Advanced Manufacture, said: “As a result of the work done with MAS we have been able to increase our appeal to a wider customer base. “This has enabled us win a landmark £1.5 million contract to manufacture and supply a key component for a local business, re-shoring production back to the UK from China in order to reduce lead times and costs, and increase quality control.” Meanwhile the latest figures from business and financial adviser Grant Thornton’s Agents of Growth series suggest that midsized businesses will continue to drive the research and development agenda in the year ahead, as well as being the largest investor in new technologies. According to the research, over the past 12 months mid-sized businesses expenditure on research and development has grown by 2.7 per cent, marginally ahead of the 2.4 per cent growth reported by their larger and smaller counterparts. Over the next year, nearly a quarter are expected to increase their investment in research. There are approaching 3,000 mid-sized businesses in the South West, between them employing more than 300,000 people. In 2014, these firms had an estimated combined turnover of £36.6 billion. Tim Lincoln, practice leader at Grant Thornton in the South West, said: “Innovation lies at the heart of leadership and the UK has for generations been looked at as a leader in developing new technologies, processes and ways of thinking. “It now risks losing this significantly valuable trait to other economies which are proactively offering their business communities more support and encouragement to invest in R&D. “In order for the UK to remain a relevant contender amongst global business hubs, more needs to be done to support its critical mass of MSBs in developing the processes and technologies which strengthen the competitiveness of British businesses.”
MBD_Western_Daily_Press_advert_Jan_2015_Layout 1 07/01/2015 15:29 Page 1
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THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 23
Technology
Full speed ahead in the booming technology sector At 180 decibels the rocket propelled Bloodhound will certainly raise the profile of the West’s fast-growing technology sector when Andy Green bids to beat his own land speed record. Richard Bache looks at a part of the economy that is already making quite a noise
The Bloodhound Supersonic Car (SSC) is the ultimate manifestation of the technological prowess of the South West. Ultra-fast, ground-breaking and attracting international attention. The engineers, designers and
innovators working away in Avonmouth at the very frontier of how fast man can travel on land epitomise all that is best about a sector that is winning renown across the globe. Importantly, there is scarcely a school in the land that isn’t fol-
24 BUSINESS GUIDE 2015 THURSDAY JANUARY 22 2015
lowing the progress of the supersonic project. It is inspiring future generations of engineers and scientists and will cement Bristol’s reputation as a genuine technological centre of excellence. When Andy Green puts the metaphorical pedal to the metal on the Kalahari Desert in South Africa this autumn, the world will be watching. He will be attempting to break his own 1997 record of 763 miles per hour, set in Thrust SSC on the Black Rock Desert in the USA. It is hoped that Bloodhound will crack 800 miles per hour this autumn, before an assault on the once unimaginable 1,000 miles per hour barrier next year. The numbers are staggering – Bloodhound generates 135,000 horsepower – 25,000hp more than the QE2 luxury liner. Yet its carbon footprint is the same as only 4.1 dairy cows. It can reach 0-1,000mph in 55 seconds and accelerate from 500mph-1,000mph in 17 seconds. The car will have to overcome 20 tonnes of drag at 1,000mph. It will take only 3.6 seconds to complete the flying mile and book a place in history.
From the outside it looks like a fairly mundane industrial shed in Avonmouth. Inside dozens of engineers are developing the fastest car on earth. The Bloodhound Project hope Andy Green will top 1,000 mph in their car PICTURES: SIMON GALLOWAY WBG-E01-S2
The rocket will generate 180 decibels of sound - louder than a 747 aircraft at take off. The rocket will also generate 3,000C of heat - twice as hot as the inside of a volcano. The jet engine is so powerful, it could suck all the air out of an average-sized house in three seconds. All of this hasn’t happened easily though; it is the result of 110 “man years” (or roughly 963,600 man hours) to design and build the amazing rocket- powered car. A spokesperson for the project said: “One hundred and ten manyears have been invested in the design, build and manufacture of the Bloodhound SSC, which is on track to challenge the Land Speed Record later this year in the Kalahari Desert, South Africa. It is fair to say that Bristol and the world’s eyes will be on Hakskeen Pan when Mr Green straps himself into the cockpit later this year. He will, of course, be following in the footsteps of earlier generations of pioneering West Country technology that holds world speed records. Fastest passenger plane ever
Technology
‘It is probably just about time the West adds the land-speed record to its crown...’
and undisputed queen of the skies Concorde was designed in Filton – with a little help from Aerospatiale friends in Toulouse. Fastest recorded helicopter – that will be a Yeovil-built Lynx, piloted by John Egginton over the Somerset Levels in 1986. It is probably just about time the West adds the land-speed record to its crown... There are hundreds of jewels in that crown, many of which sparkled in 2014. One trend that was impossible to miss in 2014 was the continued rise of technology start-ups in the West and the number of London tech firms investing in the region. Among the deals that grabbed headlines was Twitter buying Bristol-based analytics company SecondSync. Not to be outdone, Twitter’s great rival Facebook also dipped into its coffers to acquire West expertise. It bought Somerset drone firm Ascenta for an estimated £12.5 million. The publicity shy firm was founded on a remote farm and is the brainchild of former Qinetiq man Andrew Cox. Also making a name for itself away from the region’s bigger cities is mobile games studio Neonplay. Rather than a somewhat grubby East London set-up it is based in a former museum in Cirencester that backs onto the Bathurst estate – very much a case of the new business world meeting the Cotswolds aristocracy. Another announcement that highlighted the attractiveness of the South West for mobile firms was Somo opening a Bristol operation. It is the largest independent mobile solutions company in the world and chose Bristol to set up a specialist engineering centre focusing on the development of licensed mobile products and platforms, one of the first of its kind. A homegrown success story that has made the opposite journey is Wriggle. The mobile app – founded by former lawyer Rob Hall – helps restaurants fill empty tables by giving users last-minute offers won funding at the Google-hosted Seedcamp 2014. It launched in Bristol last summer and has expanded to help restaurants in the capital maximise capacity and is tipped to be one of 2015’s big tech success stories. Some of the key reasons for moving cited by firms relocating to Bristol and Bath are the concentration of talent, particularly emerging from the region’s universities, the attractive lifestyle, competitive costs compared to London and the south east, the energy in the booming digital sector and the mentoring and support networks that help drive success. Incubators such as SetSquared, WebStart Bristol, Engine Shed, South West Founders and TechSpark – plus Invest Bristol and Bath – have all helped make the region one of Europe’s top tech clusters that is set to enjoy a stellar 2015.
Commentary Those working in the South West’s TMT ecosystem will be reflecting on a landmark 2014 and looking ahead to a very promising 2015, writes TLT corporate partner Jon Gill. Last year, the Bristol and Bath region was identified, by leading management consultants McKinsey, as an internationally recognised technology hub, with the fastest growing community outside of London. 2015 should be the year in which the region takes full advantage of this momentum. The South West’s competitive advantage lies in the diversity of sectors, its melting pot of connections, a skilled work force and of course the quality of life that keeps luring talent away from London. This diversity encompasses world-leading companies such as Aardman, Toshiba, Intel and HP. These established players were joined in 2014 by Huawei, Somo, Kainos and Just Eat; international companies who recognised the region’s technology talent. Bristol’s digital infrastructure, improved by the Smart City initiative that enables businesses to tap into high-capacity broadband for product testing, will also prove to be an attraction in 2015. The tech start-up community is particularly exciting, with established incubators such as SetSquared being joined by the next generation of fast growth technology clusters including WebStart
£125m Huawei announced investment in research centre in Bristol last year
From top; Andy Green hopes to reach the unprecedented speed of 800 miles per hour later this year; Rob Hall, the entrepreneur behind the successful Wriggle App and Oli Christie, CEO of Cirencesterbased Neon Play WBG-E01-S2
Bristol, Engine Shed, South West Founders and TechSpark. The funding community is also developing as a result. While there is still much to be done in connecting capital with opportunity, initiatives such as Silicon Gorge, which showcased over 20 exciting ventures to an audience of investors from across the UK, are making a real impact. The global tech giants also recognise the quality of businesses emerging from the region, for example, last year TLT acted on the sale of SecondSync, the social media analytics business, to Twitter. The pace of technological change will continue to present opportunities to improve existing processes and disrupt mature industries. This includes: ■ Cybersecurity – the recent Sony hack demonstrates the financial and reputational damage that a security breach can inflict on a global corporation. But attacks are not confined to high profile targets. SMEs involved in e-commerce are particularly vulnerable. The proposed General Data Protection Regulation will strengthen data protection laws in Europe significantly, increasing the regulatory risks arising from a breach.
■ Wearable technology – this was of huge interest at the recent Consumer Electronics Show and will come to further prominence when the Apple Watch is launched in March. Like the iPhone and iPad before it, this will generate a whole new industry in terms of accessories and apps creating opportunities for businesses to capitalise on. ■ Drones – as sophistication increases and costs come down, the “gadget of 2014” will find itself being used in a huge variety of industrial applications, with existing and new businesses exploiting this opportunity. The Civil Aviation Authority will have a lot of work in determining whether users are sufficiently competent, which is presently required for commercial use, creating opportunities for training businesses in addition to those providing the technology. There is no doubt that 2015 will continue to deliver the constant and significant change that drives the TMT sector in the South West.
Jon Gill, a corporate partner at TLT, specialises on venture capital, private equity and M&A transactions involving businesses in the TMT sector. For more information please contact Jon Gill, on 0333 006 0793 / Jon.Gill@ TLTsolicitors.com
‘The global tech giants also recognise the quality of businesses emerging from the region’
THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 25
THE TO Pos
Company name
Location
County
Turnover
Employees
Profit
001
Imperial Tobacco Group PLC
Bristol
Avon
£14,588,000,000
36000
£1,261,000,000
002
St James’s Place UK PLC
Cirencester
Gloucestershire
£4,655,000,000
003
Intel Corporation (UK) Limited
Swindon
Wiltshire
£3,947,537,000
1024
£114,175,000
004
Npower Limited
Swindon
Wiltshire
£3,939,500,000
1874
£359,600,000
005
Airbus Operations Limited
Bristol
Avon
£3,800,000,000
9010
£7,000,000
006
EDF Energy Nuclear Generation Limited
Gloucester
Gloucestershire
£3,198,000,000
5737
£1,111,000,000
007
Allstar Business Solutions Limited
Swindon
Wiltshire
£2,710,274,000
164
£45,471,000
008
Honda of The U.K. Manufacturing Limited
Swindon
Wiltshire
£2,543,913,000
3322
£52,805,000
009
Connect Group PLC
Swindon
Wiltshire
£1,810,800,000
4794
£41,900,000
010
C&J Clark Limited
Street
Somerset
£1,541,000,000
16175
£119,800,000
011
New Look Retail Group Limited
Weymouth
Dorset
£1,528,800,000
20073
-£55,000,000
012
WH Smith PLC
Swindon
Wiltshire
£1,186,000,000
14723
£108,000,000
013
Agustawestland Limited
Yeovil
Somerset
£1,180,431,000
3184
£134,525,000
014
First Greater Western Limited
Swindon
Wiltshire
£1,130,274,000
5081
-£9,989,000
015
Wincanton PLC
Chippenham
Wiltshire
£1,098,300,000
15440
£34,900,000
016
Dyson Exchange Limited
Malmesbury
Wiltshire
£1,048,500,000
47
£45,700,000
017
PPL WEM Limited
Bristol
Avon
£907,600,000
3644
£152,800,000
018
The Mortgage Works (UK) PLC
Swindon
Wiltshire
£866,000,000
019
Mears Group PLC
Gloucester
Gloucestershire
£865,574,000
15532
£21,745,000
020
Westcon Group European Operations Limited
Cirencester
Gloucestershire
£845,707,000
878
£8,815,000
021
Matthew Clark Wholesale Limited
Bristol
Avon
£805,465,000
1344
£13,275,000
022
Mitie Technical Facilities Management Limited
Bristol
Avon
£732,010,000
4989
£23,975,000
023
Spirax-Sarco Engineering PLC
Cheltenham
Gloucestershire
£689,388,000
4725
£145,714,000
024
Screwfix Direct Limited
Yeovil
Somerset
£665,263,000
5442
£45,328,000
025
Zurich Assurance Ltd
Cheltenham
Gloucestershire
£652,000,000
026
Rotork P.L.C.
Bath
Avon
£578,440,000
2892
£137,997,000
027
Wessex Water Limited
Bath
Avon
£546,800,000
2244
£164,500,000
028
YTL Utilities (UK) Limited
Bath
Avon
£546,800,000
2244
£158,000,000
029
Basf Metals Recycling Limited
Cinderford
Gloucestershire
£546,401,000
030
Kerry Ingredients (UK) Limited
Bristol
Avon
£537,708,000
1895
-£4,350,000
031
GE Aviation Systems Limited
Cheltenham
Gloucestershire
£525,495,000
3002
£42,274,000
032
Steinhoff UK Holdings Limited
Cheltenham
Gloucestershire
£491,893,000
4092
£24,611,000
033
Man Truck And Bus UK Limited
Swindon
Wiltshire
£491,445,000
753
£7,759,000
034
Nutricia Limited
Trowbridge
Wiltshire
£489,008,000
751
£22,308,000
035
ALD Automotive Limited
Bristol
Avon
£485,498,000
332
£36,802,000
036
Arval UK Group Limited
Swindon
Wiltshire
£469,417,000
549
£70,000,000
037
Sun Valley Foods Limited
Hereford
Herefordshire
£451,218,000
2242
-£8,033,000
038
Messier-Dowty Limited
Gloucester
Gloucestershire
£444,905,000
935
£14,700,000
039
Supergroup PLC
Cheltenham
Gloucestershire
£430,900,000
2228
£45,200,000
040
Cambria Automobiles PLC
Swindon
Wiltshire
£395,776,000
1017
£4,026,000
041
Synergy Health PLC
Swindon
Wiltshire
£380,453,000
5107
£42,893,000
042
British Energy Direct Limited
Gloucester
Gloucestershire
£373,305,000
75
£8,020,000
043
Libya Oil Ethiopia Limited
Bristol
Avon
£365,922,000
142
£2,200,000
044
Hargreaves Lansdown PLC
Bristol
Avon
£358,393,000
794
£209,786,000
045
Renishaw PLC
Wotton-Under-Edge
Gloucestershire
£355,498,000
3345
£96,386,000
046
Ecclesiastical Insurance Office PLC
Gloucester
Gloucestershire
£350,751,000
1034
£66,937,000
047
Masstock Arable (UK) Limited
Cheltenham
Gloucestershire
£323,363,000
604
£13,115,000
048
Dick Lovett Companies Limited
Swindon
Wiltshire
£308,230,000
512
£5,732,000
049
Refresco Gerber UK Limited
Bridgwater
Somerset
£299,998,000
871
-£2,502,000
050
Colt Car Company Limited (The)
Cirencester
Gloucestershire
£267,483,000
180
£6,683,000
28 BUSINESS GUIDE 2015 THURSDAY JANUARY 22 2015
£261,000,000
£193,000,000
£30,000,000
£2,305,000
WBG-E01-S2
TOP 150 Pos
Company name
Location
County
Turnover
Employees
Profit
051
Epwin Group PLC
Cheltenham
Gloucestershire
£266,911,000
2334
£6,166,000
052
YEO Valley Group Limited
Bristol
Avon
£261,016,000
1657
£4,786,000
053
Integral UK Holdings Limited
Bristol
Avon
£238,600,000
2741
£10,740,000
054
Ryder Limited
Devizes
Wiltshire
£237,376,000
1268
£10,181,000
055
Sanlam Life & Pensions UK Limited
Bristol
Avon
£225,368,000
108
£12,055,000
056
Sita Trust Limited
Wotton-Under-Edge
Gloucestershire
£213,977,000
8
£0
057
August UK Holdco Limited
Swindon
Wiltshire
£204,654,000
1133
£6,453,000
058
Centaur Services Limited
Castle Cary
Somerset
£201,622,000
231
£3,558,000
059
Magners GB Limited
Shepton Mallet
Somerset
£201,083,000
239
£12,194,000
060
Redde PLC
Bath
Avon
£197,419,000
1182
£10,518,000
061
Nisbets PLC
Bristol
Avon
£194,444,000
888
£27,263,000
062
Tyco Electronics UK Ltd
Swindon
Wiltshire
£192,115,000
1501
£17,593,000
063
Cooper Tyre & Rubber Company Europe Ltd
Melksham
Wiltshire
£183,016,000
732
£11,198,000
064
United Oilseeds Marketing Limited
Devizes
Wiltshire
£180,390,000
29
£1,805,000
065
ISG Pearce Limited
Bristol
Avon
£177,276,000
208
£1,962,000
066
Castrol Limited
Swindon
Wiltshire
£176,369,000
067
OVO Group Ltd
Bristol
Avon
£171,678,000
247
£303,000
068
Amcor Europe Group Management
Bristol
Avon
£168,083,000
820
£6,384,000
069
Intrinsic Financial Services Limited
Swindon
Wiltshire
£166,725,000
299
-£3,205,000
070
Intercall Conferencing Services Limited
Gloucester
Gloucestershire
£164,247,000
531
£49,874,000
071
Toolstation Limited
Bristol
Avon
£163,759,000
1646
£9,488,000
072
Jisc
Bristol
Avon
£163,718,000
208
£65,240,000
073
Mulberry Group PLC
Radstock
Avon
£163,456,000
1327
£14,014,000
074
Teleperformance Holdings Limited
Bristol
Avon
£162,668,000
7537
£7,654,000
075
NOV Downhole Eurasia Limited
Stonehouse
Gloucestershire
£161,461,000
629
£65,084,000
076
Oasis Healthcare Limited
Bristol
Avon
£158,100,000
2181
£4,875,000
077
Resource Solutions Group PLC
Bristol
Avon
£157,563,000
176
£6,354,000
078
Arla Foods (Westbury) Limited
Westbury
Wiltshire
£156,545,000
4
£2,419,000
079
Vertex Group Limited
Cheltenham
Gloucestershire
£153,907,000
11857
-£4,077,000
080
Bradford And Sons Limited
Yeovil
Somerset
£152,053,000
1018
£2,251,000
081
Special Metals Wiggin Limited
Hereford
Herefordshire
£146,817,000
600
£25,430,000
082
JB Global Limited
Swindon
Wiltshire
£145,543,000
616
£7,095,000
083
Lynemouth Power Limited
Swindon
Wiltshire
£142,413,000
131
£26,117,000
084
Wyman-Gordon Limited
Hereford
Herefordshire
£142,145,000
371
£33,131,000
085
Taylor Maxwell Group Limited
Bristol
Avon
£140,559,000
152
£1,830,000
086
DAC Beachcroft Services Limited
Bristol
Avon
£134,652,000
1835
£0
087
Crown Pet Foods Limited
Castle Cary
Somerset
£132,348,000
234
£19,153,000
088
Student Loans Company Limited
Bristol
Avon
£131,362,000
2367
-£312,000
089
Kohler Holdings Ltd.
Cheltenham
Gloucestershire
£130,964,000
946
-£4,707,000
090
Ford Fuels Limited
Bristol
Avon
£128,604,000
96
£1,998,000
091
Tribal Group PLC
Bristol
Avon
£125,485,000
1415
£13,497,000
092
Avon Rubber PLC
Melksham
Wiltshire
£124,779,000
750
£16,554,000
093
Fairchild Semiconductor Limited
Swindon
Wiltshire
£124,492,000
51
£3,950,000
094
Rygor Holdings Limited
Westbury
Wiltshire
£124,431,000
536
£1,633,000
095
Seabank Power Limited
Bristol
Avon
£124,135,000
54
£51,745,000
096
Bristol Water PLC
Bristol
Avon
£123,900,000
489
£14,500,000
097
Computershare Investor Services PLC
Bristol
Avon
£123,387,000
1103
£23,206,000
098
Siniat Limited
Bristol
Avon
£122,873,000
408
£15,223,000
099
Wessex Garages Holdings Limited
Bristol
Avon
£121,626,000
231
£1,705,000
100
T H White Holdings Limited
Devizes
Wiltshire
£121,416,000
513
£2,135,000
WBG-E01-S2
£138,652,000
THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 29
THE TOP 150 Pos
Company name
Location
County
Turnover
Employees
Profit
101
M And M Direct Limited
Leominster
Herefordshire
£119,336,000
622
£9,017,000
102
A-Gas (ORB) Limited
Bristol
Avon
£118,716,000
263
£9,724,000
103
Kingspan Insulation Limited
Leominster
Herefordshire
£117,003,000
385
£11,803,000
104
Renrod Holdings Limited
Trowbridge
Wiltshire
£116,430,000
372
£1,451,000
105
Walon Limited
Yeovil
Somerset
£116,362,000
810
£7,411,000
106
Project People Limited
Bristol
Avon
£115,508,000
125
£1,074,000
107
Apetito Limited
Trowbridge
Wiltshire
£113,148,000
1180
£18,157,000
108
Blade Motor Group Limited
Gloucester
Gloucestershire
£112,726,000
384
£1,230,000
109
Cotswold Motor Group Limited
Cheltenham
Gloucestershire
£112,422,000
266
£1,738,000
110
Future PLC
Bath
Avon
£112,300,000
1036
£5,800,000
111
Stonegate Holdings Limited
Chippenham
Wiltshire
£112,298,000
466
£5,939,000
112
Happold LLP
Bath
Avon
£111,760,000
1272
£8,289,000
113
Cotswold Outdoor Limited
Malmesbury
Wiltshire
£111,356,000
1372
£5,337,000
114
International Plywood PLC
Gloucester
Gloucestershire
£111,296,000
82
£6,297,000
115
Space Cooling Systems Holdings Limited
Bristol
Avon
£110,539,000
597
£2,136,000
116
DAS UK Holdings Limited
Bristol
Avon
£109,000,000
636
£6,161,000
117
Moog Wolverhampton Limited
Tewkesbury
Gloucestershire
£108,996,000
424
£7,200,000
118
Space Engineering Services Limited
Bristol
Avon
£108,486,000
593
£3,789,000
119
Shaw Trust Limited(The)
Trowbridge
Wiltshire
£107,897,000
1474
£2,294,000
120
Harding Brothers Holdings Limited
Bristol
Avon
£104,046,000
150
£1,473,000
121
Hall & Woodhouse Limited
Blandford Forum
Dorset
£102,855,000
1465
£7,022,000
122
Lyons Seafoods Limited
Warminster
Wiltshire
£102,150,000
318
£6,479,000
123
Jamie’s Italian Limited
Bath
Avon
£101,814,000
2457
£5,604,000
124
The Unite Group PLC
Bristol
Avon
£101,600,000
890
£77,100,000
125
Western Provident Association Limited
Taunton
Somerset
£100,636,000
304
£11,546,000
126
Howard Garages (Weston) Limited
Weston-Super-Mare
Avon
£100,030,000
247
£1,545,000
127
Tata Technologies Europe Limited
Bristol
Avon
£99,296,000
456
£7,358,000
128
HF Trust Limited
Bristol
Avon
£98,817,000
47170
£27,923,000
129
Microsemi Semiconductor Limited
Bristol
Avon
£97,235,000
79
£4,717,000
130
Bailey Caravans Limited
Bristol
Avon
£96,846,000
257
£5,110,000
131
Severn Glocon Group PLC
Gloucester
Gloucestershire
£94,442,000
778
£13,213,000
132
Crown Timber Group PLC
Cirencester
Gloucestershire
£93,574,000
34
£2,456,000
133
Fish Brothers (Holdings) Limited
Swindon
Wiltshire
£93,451,000
248
£1,996,000
134
Horizon Nuclear Power Services Limited
Gloucester
Gloucestershire
£93,383,000
109
£68,584,000
135
Williamson-Dickie Europe Holdings Limited
Radstock
Avon
£92,908,000
473
£4,665,000
136
C.M. Downton (Haulage Contractors) Limited
Gloucester
Gloucestershire
£90,505,000
892
£5,334,000
137
Zycko Group Limited
Cirencester
Gloucestershire
£89,939,000
163
-£189,000
138
Yuasa Battery Sales (UK) Limited
Swindon
Wiltshire
£89,455,000
77
£2,525,000
139
Oberthur Technologies UK Limited
Tewkesbury
Gloucestershire
£88,929,000
523
£4,958,000
140
Organic Milk Suppliers Co-Operative Limited
Weston-Super-Mare
Avon
£88,710,000
15
£10,000
141
Herman Miller Limited
Chippenham
Wiltshire
£88,645,000
408
£4,739,000
142
Brightside Group Limited
Bristol
Avon
£88,613,000
1030
£11,179,000
143
Trelleborg Sealing Solutions UK Limited
Tewkesbury
Gloucestershire
£87,669,000
661
£12,351,000
144
SPP Pumps Limited
Coleford
Gloucestershire
£87,142,000
437
£5,865,000
145
Severn River Crossing PLC
Bristol
Avon
£85,435,000
183
£10,059,000
146
Langdon Group Limited
Bridgwater
Somerset
£85,025,000
996
£4,432,000
147
Yankee Candle Company (Europe) Limited
Bristol
Avon
£82,852,000
214
£3,222,000
148
AES Overseas Holdings Limited
Bristol
Avon
£82,538,000
149
Patheon UK Limited
Swindon
Wiltshire
£82,365,000
486
-£3,092,000
150
Hills UK Limited
Swindon
Wiltshire
£81,533,000
408
£4,524,000
30 BUSINESS GUIDE 2015 THURSDAY JANUARY 22 2015
£81,831,000
WBG-E01-S2
Top 10
Major American deal demonstrates Imperial ambition The West’s ten biggest companies are genuine world-leaders in their respective fields. Richard Bache looks at their achievements
Imperial Tobacco Location Bristol Turnover £14,588,000,000 Profit £1,261,000,000
1
Bristol-based FTSE 100 stalwart Imperial Tobacco highlighted its growth strategy in July by making a major American acquisition. The West’s biggest company boosted its market share in the US from 3 per cent to 10 per cent with a deal to buy a batch of US brands from rival Reynolds American for £4.2 billion, including Winston, Maverick, Kool, Salem and e-cigarette brand blu. The acquisition will be debt fi nanced and is subject to regulatory and shareholder approval, which it expect to receive this spring. Formed in 1901, Imperial now sells tobacco products in some 160 countries, all masterminded from its headquarters on Winterstoke Road, in Bristol. It might have a long and storied history, but it could hardly be accused of standing still. It opened new global headquarters in Bristol in 2013 on the site of its former cigar factory. It no longer manufactures cigarettes in the West – and announced the closure of a Nottingham manufacturing facility in 2014 – but if you smoke it is a better than fair chance that what you are smoking is an Imperial brand. It lists Davidoff, Lambert and Butler, Rizla and Golden Virginia among its massive portfolio of products. Chief executive Alison Cooper is the longest-serving female FTSE 100 chief executive and one of Britain’s top businesswomen. In December’s annual report she said: “We are a stronger business going into 2015. We’ve strengthened our brands and market footprint, increased cash conversion and considerably reduced our debt level. This has created a stronger platform for generating quality sustainable growth. We expect to complete the USA transaction in the spring of 2015, which will signifi cantly enhance our operational and fi nancial delivery in this key Growth Market.” Imperial Tobacco was officially incorporated on December 10, 1901. Then, it was an amalgamation of 13 tobacco firms – including Bristol-based Wills – which joined forces to combat the mighty
American Tobacco Company. As well as its dozens of tobacco brands it can also boast of having previously owned such wellknown names as Golden Wonder, HP Sauce, Ross frozen foods and Courage, before selling them off when it, in turn, was bought by the Hanson Trust in 1985.
St. James’s Place Location Cirencester Turnover £4,655,000,000 Profit £261,000,000
2
Cirencester-based the St. James’s Place Wealth Management Group is a FTSE 100 comany that specialises in delivering face-to-face wealth management advice to individuals, trustees and businesses. At the heart of the business is the St. James’s Place Partnership — the exclusive advisory arm of the St. James’s Place Wealth Management Group. With £49.1 billion of client funds under management, the St. James’s Place Wealth Management Group is a major force in the investment world. When it presented its third quarter results in October David Bellamy, chief executive, said: “I am very pleased to report that the strong momentum in our business continued into the third quarter, with growth in new business buoyed by a 50 per cent increase in new ISA investments, as clients took the opportunity to capitalise on the higher limits introduced on 1 July. This growth, coupled with the consistently high retention of our existing client funds, saw net inflows increase by 23 per cent to £1.3 billion in the quarter, bringing our total funds under management to a record £49.1 billion.”
Intel (UK) Limited Location Swindon Turnover £3,947,537,000 Profits £114,175,000
3
‘We are a stronger business going into 2015. We’ve strengthened our brands and market footprint’
American IT giant Intel has its UK headquarters in Swindon – which is also one of its main locations in its Europe, Middle East and Africa division. The computer chip pioneer is one of numerous firms attracted by Swindon’s highly skilled workforce, relative ease of access to
Main picture; Imperial Tobacco’s global headquarters in South Bristol. Above, chief executive Alison Cooper WBG-E01-S2
London and Heathrow and its position on the so-called Silicon Corridor along the M4. It has substantial sales and marketing teams based in Wiltshire, plus a number of corporate functions including finance, HR, corporate relation and other backoffice support services. Within Swindon Intel has recently joined forces with other high-tech businesses to support the development of a university technical college in the Wiltshire town. The group’s global outlook will continue to be determined on how it diversifies away from its core business of PC chips. It is staking considerable research dollars on ultra-mobile devices, wearable technology and data centres.
CONTINUED OVERLEAF
THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 31
Top 10 FROM PREVIOUS PAGE
Npower Limited Location Swindon Turnover £3,939,500,000 Profits £359,600,000
costs, which is where Allstar comes in. Its fuel cards allow firms to purchase all their fuel through a central purchasing system by giving fuel cards to drivers to use at a variety of outlets across the UK and Allstar will ultimately send out a consolidated, HMRC approved VAT invoice. This eliminates the need to keep fuel receipts, makes fuel purchasing more secure and gives control over all fuel purchases.
4
RWE npower’s UK head office is based in Swindon. The office, comprising more than 1,000 people, provides a wide range of services to the UK business including functions such as finance, risk management, procurement, HR, PR, communications, engineering, commercial management, strategy and legal services. It is also the main link with parent company RWE AG and other RWE operating companies. It has some 6.5 million residential gas and electricity accounts and employs around 12,000 staff. It also supplies electricity and gas to businesses of all sizes. Its customer base exceeds 217,000 business sites and includes household names Astra Zeneca, Ikea, M&S, and BT.
Airbus Operations Location Bristol Turnover £3,800,000,000 Profits £7,000,000
Location Gloucester Turnover £3,198,000,000 Profits £1,111,000,000
Location Swindon Turnover £2,543,913,000 Profits £52,805,000
Connect Group Location Swindon Turnover £1,818,800,000 Profits £41,900,000 A Honda Civic being assembled at the Japanese giant’s Swindon factory
Cream of the region’s crop guide, 2015 could be a landmark year for EDF in the UK if, as expected, it takes the final investment decision to proceed with building Hinkley C on the Somerset coast. It will be Europe’s biggest civil engineering project and a substantial boon to the region’s economy for the decades ahead. Elsewhere in the West EDF employs hundreds of people at its major offices in Barnwood, Gloucester and Exeter and has been working with hundreds of firms across the region to help them get involved in the Hinkley C supply chain.
6
As discussed elsewhere in this
8
Honda’s factory at Swindon is one of Britain’s most efficient car plants and the place where it manufactures cars specifically built for the European market. At South Marston it produces the total car, from casting, engine assembly and pressing through to welding, painting and final assembly. The company says it chose Swindon due to its high-skill workforce, one that made Swindon the manufacturing centre of the Great Western Railway – and set the standard for excellence in engineering. There’s also an outstanding infrastructure and first-rate communications links. It used the Paris Motor Show in October to to reveal its new-look Swindon-built CR-V. The exterior received a whole new look with new headlamps, front grille, fog lights, skid-plate and bumper; whilst at the rear, new LED combination lamps, a refreshed tailgate design and bumper complete the enhancements.
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Every two seconds an A320 takes off or lands somewhere in the world. That statistic goes a long way to explain why Bristol-based plane-maker Airbus enjoyed what its chief executive described as a “landmark year” in 2014. The single-aisle plane which is popular among carriers such as EasyJet to take holiday-makers on relatively short-haul destinations is the company’s biggest seller. While the double-decker A380 superjumbo dominated the questions at the company’s annual press conference in Toulouse this month, the less glamorous smaller cousin is the real star performer. In 2014, Airbus took 1,041 orders for the more fuel efficient new engine option version of the plane. Chief executive Fabrice Bregier revealed 2014 had been the second best year for orders with 1,456 net new orders for all its aircraft. The firm delivered 629 new planes to customers, just pipping 2013’s tally of 626 and revealed a record backlog of 6,386 aircraft – enough work to keep the manufacturer busy for nine years. That is good news for the 4,000 people who work for the company at its Filton base, where they design wings, fuel systems and landing gear as well as build the wings for the A400M military transport plane. He delivered a strong defence of the superjumbo A380 in the face of tough questions from journalists following speculation about its future towards the end of last year. Mr Bregier admitted the plane had been a “financial burden” in the past. “This is now a programme which delivers good industrial and commercial performance,” said Mr Bregier.
EDF Energy Nuclear Generation Limited
Honda of The UK Manufacturing
Wings being manufactured at Airbus in Filton, near Bristol
32 BUSINESS GUIDE 2015 THURSDAY JANUARY 22 2015
Allstar Business Solutions Location Swindon Turnover £2,710,274,000 Profits £45,471,000
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Swindon-based Allstar is the UK’s market leading fuel card provider, with more than 1.1 million Allstar fuel cards in circulation. It has more than 35 years experience in the fleet management industry and has clients ranging from multinationals to small businesses and even those in the charitable sector. Even in a climate where petrol prices are being slashed it is critical that businesses control these WBG-E01-S2
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The Swindon-based Connect Group almost certainly made sure that this newspaper ended up in your hands this morning. One of its divisions is Smiths News, the UK’s biggest newspaper distribution company. It delivers more than 40 million newspapers and 14 million magazines to shops each week. The logistical challenge of delivering billions of newspapers and magazines every year is immense. Few, if any, retail products are as perishable as a daily newspaper. Other operating divisions include books, education and care consumables and a major parcel delivery arm.
C&J Clark Limited Location Street Turnover £1,541,000,000 Profits £119,800,000
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Street-based C&J Clark is the world’s fourth biggest footwear company. The firm marks its 190th anniversary in 2015 and goes from strength to strength. It continues to grow in North America, Europe, India and China, and is the world’s largest casual and smart shoe company.
Corporate Intelligence
Indicators suggest steady growth is likely for 2015 Ray Ruffels, director of Business Information Services at Jordans, which provided the data for the Top 150 companies in the 2015 Western Daily Press Business Guide, considers the economic forecast for the year ahead 2014 saw record breaking figures for the number of new businesses incorporated in the UK. So will growth continue in 2015? Jordans is delighted to have been chosen to work with the Western Daily Press on this year’s Business Guide. With headquarters in Bristol, the business survival and success of our local market is as important as the national picture of business health in the UK. Jordans has been providing business information and insight into companies for over 30 years, supplying data to over 25,000 com-
panies per year. We are also the largest company formation agent in the UK. Research from the national enterprise campaign, run by the Centre for Entrepreneurs think tank, shows 581,173 businesses were registered with Companies House in 2014, beating the previous record of 526,446 businesses recorded in 2013. The figures capture everything from significant subsidiaries formed by large international conglomerates to entrepreneurs just starting out and setting-up their first limited company. According to campaign group, StartUp Britain, Greater London saw the most start-ups with 184,631 formed, up by more than 32,000 on 2013. Birmingham was in second place with 18,377 startups. Manchester was third with 13,054 and Brighton was the
Dorset brewer Hall and Woodhouse is in the Top 150, above, Ray Ruffels
We can help protect your growing business WBG-E01-S2
fourth highest with 8,344. It’s also great news for the West as Bristol is ranked the sixth hotspot in the UK, with 8,130 new companies formed in 2014. Luke Johnson, chairman of the Centre for Entrepreneurs, commented “Starting a business is easier, quicker and cheaper than ever thanks to new technology.” In the future we look forward to seeing new start-ups fight for a place in the business guide. It’s a great achievement for those companies that feature for the first time, with the top 55 companies in this year’s list being companies that featured in 2014 and, for the majority, many years previous to this. Sita Trust Limited enters the guide as the highest new entry at position 56. The Sita Trust is a not-for-profit organisation dedicated to making improvements to the natural environment and community life. We also see two hospitality businesses, Hall and Woodhouse Limited and Jamie’s Italian Limited, feature in the guide as new entries. However, Hall and Woodhouse Limited is definitely not new to the hospitality industry. The story began in 1777 when Charles Hall started brewing beer for the troops stationed in Weymouth whilst they waited to face Napoleon. Their pub estate has now grown to over 200, stretching from Bristol to Exeter
and London to Brighton. Jamie’s Italian Limited, entering at position 123, was founded in Oxford in 2008. Since then it has grown to more than 30 restaurants worldwide, including restaurants here in the South West in Bristol, Bath and Cheltenham. We also see companies that featured as new entries last year travel up the list. Cotswold Outdoor Ltd entered the guide last year as a new entrant in position 149. It reaches position 113 this year. This multi-channel retailer started out selling basic camping accessories from a small outbuilding in the Cotswolds. Nearly 40 years later it has over 65 stores in the UK. The Business Guide shows some strong performances, but what is the economic outlook for 2015? The results from the latest Chartered Institute of Credit Management (CICM) Credit Managers’ Index, a measure of economic activity, highlights for Q3 a headline index of 59.4, a figure that has been trending upwards for 6 quarters. 2015 also sees a general election which could provide a short-term negative impact on business confidence due to political uncertainty, especially if the outcome of the May election is inconclusive. To find out more about the business information, legal, compliance and accountancy services offered by Jordans, visit www.jordans.co.uk or call 0117 918 1265.
Data Suppliers for the Western Daily Press Business Guide 2015 It’s about making better-informed decisions. We arm you with reliable corporate intelligence so you can assess business risks and opportunities, monitor your marketplace, reach customers more effectively and even protect your intellectual property. For further information, please contact us. Call +44 (0)117 918 1265 Email marketing@jordans.co.uk
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THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 33
Rail Transport
Super Express Trains en route to West railways The first of the next generation trains that will slash journey times between the West Country and London have left the factory in Japan. When they are in service they will cut journey times to the capital by approximately 20 minutes
There is a buzz in the rail industry following the news that the first Super Express Train (SET), also known as the Intercity Express Train, has left Hitachi's factory in Japan to make the 13,000 mile journey to Britain by sea. Depending on the weather, it should arrive at Southampton
docks at the beginning of March. When they enter service, these new trains promise to be bigger, quieter, faster and cleaner; and they’ll offer around 20 per cent much needed extra capacity for customers at peak times too. Rail chiefs predict faster journeys between South Wales, Bris-
34 BUSINESS GUIDE 2015 THURSDAY JANUARY 22 2015
tol, Swindon, Reading and Paddington, and it is hoped journey times between London and Bristol Temple Meads will be reduced by as much as 20 minutes. When the new nine-car train arrives on UK shores, it will be taken straight to Network Rail’s Old Dalby test track, where it will be fitted with measurement devices before starting non-passenger testing on the Great Western in the summer. Before the new trains go live somewhere around the summer of 2017, there is a great deal to be done in preparation. Rail infrastructure owner Network Rail has already embarked on a massive operation to install 18,000 piles along the 235 mile track to hold gantries which will suspend electrified cables above the track. Network Rail‘s specially designed £40 million High Output Plant System Factory Train which makes, plants and cements the piles in place, can cover up to a mile in a night. However, there are many to obstacles to be dealt with along the way, including bridges, tunnels, and electricity pylons. This, combined with extra capacity on high speed trains now,
Main picture; work at Bristol Temple Meads over Christmas has seen the removal of the old Royal Mail conveyor bridge, ahead of work to prepare the station for electrification. Above; an archive photograph of one of the new trains WBG-E01-S2
should see huge improvements in the region. Although the Super Express Trains are on their way, First Great Western says it has been taking concerted steps to address the need to provide extra seats straight away as an interim measure, by creating thousands of extra standard-class seats on its High Speed Trains. The move follows a deal last year with the Department for Transport to increase standard-class capacity by converting some firstclass carriages to standard. This is creating around 3,000 extra standard-class seats every day across the network. The remaining First Class carriages are undergoing refurbishment with recovered seats, new carpets, extra privacy screens and more comfortable headrests. The first completed standard carriages entered service last summer, and the last should enter service in a few months. Additional USB-power points for easy charging of mobile and smartphones, and free WiFi will also be available in both standardand first-class carriages in the next few months.
Rail Transport Mayor calls for Temple Meads investment
‘Network Rail has already embarked on a massive operation to install 18,000 piles along the 235 mile track’
Bristol mayor George Ferguson thinks a devolution deal granting greater powers to the Bristol area will be done soon after the general election. He used a visit by Communities Secretary Eric Pickles last week to push the case for devolution and to ask for more government money towards the redevelopment of Temple Meads station, which is managed by Network Rail. “I’m confident after the election we’ll move towards greater autonomy for the region and that will lead to greater prosperity,” said Mr Ferguson. He described cities as the “engine of the economy” and said Bristol was “punching above its weight”. But Mr Ferguson told Mr Pickles that Temple Meads station needed around £300 million investment to get it into shape for the electrification of the Great Western Line, which will reduce journey times to London to one hour, 20 minutes. “As the one core city left out of the HS2 high-speed rail programme we will be looking for that level of investment, because we believe that is a real investment in the future of the national economy,” he said. “London is overheating and we are the first best stop outside the South East.” Mr Pickles was in Bristol to highlight the large amount of private investment being made in the Temple Quarter Enterprise Zone. He visited the Paintworks, where Verve is embarking on the next phase of the site, which includes more space for businesses to create up to 450 new jobs. The minister saw the work of Crux Product Design, which designed helmets for the London 2012 GB cycling team. The firm plans to move into bigger premises at the Paintworks. Mr Pickles also took a look inside 2 Glass Wharf, the big new office building across the river from the station. The £40 million office was built by developer Salmon Harvester without any tenants signed up, making it a big financial risk just after the recession. But it’s a risk that looks to be paying off, with accountancy firm PwC moving in later this month and discussions under way with more potential tenants. When full, there will be close to 1,000 people working there. Mr Pickles said: “Congratulations to Salmon Harvester for doing a piece of speculative building and also because it has worked.” In response to Mr Ferguson’s call for rail funding and devolution, Mr Pickles said: “Bristol needs to convince us on jobs and prosperity. We are looking for George to wow us, to serenade us with good ideas.” He added: “We want to do the deal.” On investment in Temple Meads, he said: “George has got ambitious ideas but it comes down to the detail.”
Commentary Matthew Barnes , regional development manager of First Great Western, details what it is doing to boost sustainability The European Commission has recognised Bristol’s success in creating a green city with a high quality of life, by naming it European Green Capital 2015. This accolade rightfully recognises Bristol’s ability to demonstrate rapid progress; environmental awareness, and a green business culture. At First Great Western, we feel strongly that rail has a dynamic and evolving role to play in promoting and celebrating the Bristol area’s green credentials. Rail is also a key enabler in the region’s growing commercial and social success. Train travel is without doubt far less carbon-intensive than travelling by car, making rail an environmentally friendly and socially responsible choice. In an era of developing green awareness, this partially explains the huge surge in business and social passengers turning to rail in recent years. Ever since pioneering Victorian engineer Isambard Kingdom Brunel first brought his railway to Bristol in 1840, it has been a vital link through the Bristol corridor with the capital. Now, as custodian of that railway, we are proud to be part of the
1840 When Isambard Kingdom Brunel brought his railway to Bristol
From top: Bristol Mayor George Ferguson has made the case to Communities Secretary Eric Pickles for more investment at Temple Meads station to prepare it for electrification. Above; Network Rail staff working of electrification project WBG-E01-S2
rail industry team dedicated to delivering a significant rail upgrade for the Bristol area through a £7.5 billion investment programme that will see the biggest step change since the railway was built. Working in partnership with Network Rail, the Government, the Bristol mayor, and a host of other local partners; we share the common aim of improving rail services in the Greater Bristol area, radically elevating the rail infrastructure and introducing the next generation of dual fuel, electric trains. This new generation of Super Express Trains, which are scheduled to enter service in 2017, will offer faster, cleaner and quieter travel that will shave precious minutes off the journey time; effectively bringing the capital a little closer. They will also offer greater capacity and a higher frequency of services. In addition to the £7.5 billion, the West of England Partnership has been awarded over £55 million in funding the MetroWest suburban rail scheme. This paves the way for the welcome reopening of the Portishead
rail line on an important commuter corridor into the city. Network Rail is also doubling the number of the lines between Bristol Temple Meads and Bristol Parkway, allowing the number of services to increase. And iconic Temple Meads station with its footfall of some 11 million people a year, will be getting a makeover too, helping it to realise its potential with a new and very different eastern approach. We’re calling this phenomenal investment programme ‘Building a Greater West’. Inspired by Brunel, the original Great Westerner, our aim is to build a railway that will bring a raft of positive benefits to help further galvanise and invigorate the whole region. There’s no denying the massive task which stands before us, and there will certainly be challenges along the way. But at such times we can all draw on Brunel’s inspiring and innovative spirit as we enter this new era for the railway. I am proud to walk in his footsteps.
‘New generation of Super Express Trains will shave precious minutes off the journey time; effectively bringing the capital a little closer’
THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 35
Agriculture
Dairy farming at crossroads as milk prices tumble Dairy farmers experienced a 2014 that few would wish to remember, writes Western Daily Press farming editor Simon Copp . Will 2015 offer an improvement or do farmers in the hard-pressed sector remain at the mercy of global markets?
If there was ever an outlook to the year ahead that didn’t list worry after worry from farmers, I missed it. Like a reverse form of the insulation of spread betting, an industry with so many sectors is always going to be exposed to the vagaries of numerous market forces. And boy, was last year a example of that. Wheat prices crashed, beef prices crashed and milk prices crashed.
Every direction farmers looked, there was doom and gloom. And though I wish I could be the bearer of better news for 2015, the tea leaves from the first few days are looking pretty uninspiring. Milk prices have continued to fall – blame the world markets if you will – and the knock-on effects are being felt, not least by First Milk’s members after the co-operative withheld payments, with speculation rife about the financial health of other processors.
36 BUSINESS GUIDE 2015 THURSDAY JANUARY 22 2015
The number of dairy farmers in the UK fell below 10,000 for the first time last month, and there is no reason to blame those who have left the industry apace. So, what does 2015 offer by way of persuading those contemplating a dash through the gate to stay in this toughest of industries? This being the South West, it makes sense to look at livestock first – and in that, dairy is suffering the most immediately, though meat has its problems too. Of a set of deeply concerning figures, one is blamed in particular – four pints for less than £1. It’s the new benchmark price for milk. And even though the supermarkets shout loudly that it is they footing the bill for such loss-leaders, many are concerned at the wider impact of devaluing a product born of blood, sweat and tears. Even Meurig Raymond, whose NFU is firmly in the “global volatility” camp, admitted in a recent interview with the Western Daily Press that he wished they wouldn’t. His caveat was that it is of course a commercial decision, though one that “Mr Farmer must not pay for”. And that really is the future in a nutshell. Whether you blame volatility, price wars or oversupply, farmers are now dealing with a global market and they must learnt the skills to do so. Farming is undergoing a radical shift – no longer does the business
Main picture; a livestock market at Standerwick, Frome, just before Christmas. Above; Farmers’ For Action protests at dairies and supermarket distribution depots became a common sight in 2014 as milk prices were slashed WBG-E01-S2
end at the farm gate. The best and most bankable businesses are those who not only grow and rear but also invest wisely, cut costs and make the most of their marketing nous. If we were to draw a broad brush across the situation, it would be that the older farmers find this toughest - though of course many are thriving. Skills such as management, finance and tax are at least as important to the man or woman whose name is on the gate as the husbandry, ploughing and other skills passed on for centuries. The farmer is increasingly a manager, employing specialists to do the traditional jobs while he or she handles the books and jumps through bureaucratic hoops. For the youngsters, this is a great opportunity to take the reins from dad or grandad, or enter the industry for the first time. Competition for college places is higher than ever and courses are being rapidly developed to cope with the changing landscape and huge advances in technology. Gone are the days of farming being seen as the default option for those at the bottom of the class. This is a bright industry leading the way with some of the best products in the world. Despite the gloom, these fresh faces are optimistic, as they may well be. All they know is the situation at present and they are determined to make the most of it, driven by a passion for food, the outdoors, livestock or a highly technical industry.
Agriculture Rights of way can be a legal minefield West Country solicitor Jonathan Cheal is a public rights of way specialist whose services are in demand across the country on a topic which can be a minefield. He’s also well known for his brightly coloured bow-ties and a monthly column in Saturday’s Western Daily Press Public rights of way issues are likely to affect you whether you have thousands of acres or a property next to a verge on the side of a lane. And it is vitally important that public access management is thought about strategically rather than piecemeal and firefighting as problems arise. For example, simply closing a gate from time to time or sticking up signs saying ‘Private’ may well be ineffective. Advice is needed because of the complex legal and technical issues; there are more major statutes on this subject than on virtually any other plus a myriad of regulations. One of the easiest ways of avoiding claims for new public rights of way across your land is to make a written deposit by lodging forms and plan with county councils. Making a valid deposit stops the
One of the highest profile rights of way disputes in the country last year was on land near Frome in Somerset. A farmer ended up installing a giant six foot high metal fence to separate walkers and dog-owners from livestock in a dramatic and drastic stand-off. Solicitor Jonathan Cheal says these sorts of disputes can often be avoided and expensive court cases dodged by relatively modest expenditure in advance. He says that one of the easiest ways of avoiding claims for new public rights of way across your land is to make a written deposit by lodging forms and plan with county councils
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clock by preventing public use of a path for less than 20 years maturing into a claim. The deposit gives you protection for 20 years but it has to be valid in terms of the wording, and accuracy, and the scale and size of the plan. It will cost you some money to do but may save you many thousands; the cost is peanuts compared to fighting a claim. I have had many cases in which a deposit has turned out to be a helpful weapon, but sadly a great deal more cases where no deposit had been done, but for which the owner would have been successful in defeating a claim. Entering into a permissive path scheme can keep control and management of access, and liaison with user groups and your parish council is also important. Just as it is important to be proactive, it is vital you are reactive. Don’t ignore a claim; don’t assume it will go away. It won’t. You need to fight evidence with evidence; there is no point in just objecting on grounds of desirability or suitability. Similarly it’s important to look at access before buying a property –public rights don’t always show up in a standard search. Proper access management can avoid unnecessary contention and specialist advice is needed.
Jonathan works with Mogers Drewett which has offices in Bath, Sherborne and Wells. He also regularly attends Market days at Frome Livestock Market. He can be contacted on 01749 342323.
THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 37
Rural Economy
Society plans to drive performance of rural economy
Businesses pay price for rural broadband Half of rural small businesses are dissatisfied with the quality of their broadband, showing they are in the “digital slow lane”, according to a new report. Research by the Federation of Small Businesses (FSB) found the issue would become more critical as small firms became increasingly reliant on a high quality broadband connection. A survey of 1,400 firms showed that those in rural areas were not happy with broadband reliability and speed. Mike Cherry of the FSB said: “This research paints a worrying picture of a divided business broadband landscape in the UK and, unless addressed, highlights a clear obstacle to growth in the coming years. “We risk seeing the emergence of a two-speed online economy resulting from poor rural broadband infrastructure. “It’s worrying that as many as 14 per cent of UK small firms still view the lack of a reliable broadband connection as being the primary barrier to their growth. “A reliable connection is now viewed as a key business requirement by 94 per cent of small UK businesses, yet continued poor connectivity in rural areas represents a huge missed opportunity for economic growth in many parts of the country. “These gaps and weaknesses need to be addressed as a matter of priority.” A Department for Culture, Media and Sport spokesman said: “We recognise the importance of rural businesses having a fast and reliable internet connection that’s why we’re investing £1.7bn in taking superfast broadband to millions of rural businesses and homes. “Nearly 80 per cent of the UK can already access superfast speeds so we’d urge businesses to check whether they can benefit. With 40,000 premises being added every week we’re on track to reach 95 per cent of the UK by 2017.”
New boss Rupert Cox Bringing millions of pounds into the West’s economy every year is the Royal Bath and West Show, which this year takes place from May 27 to May 30. 2015 marks 50 years since the Royal Bath and West Society made the Shepton Mallet showground its permanent home after travelling the country for the previous century and the year also sees Rupert Cox take up the helm as the Society’s chief executive. For Mr Cox– formerly chief executive of the Somerset Chambers of Commerce – there’s plenty on the agenda to ensure the society and the Show remain a mainstay for the region for decades to come. He said: “The showground and the society is a very strong economic driver for the Mendips, for Somerset and beyond. “We have also got a social responsibility to be a ‘hub of rural business influence’ across the whole area as we are the Royal Bath and West of England Society. “We have a responsibility to inform both producers and also consumers and to try and strengthen that link; we can do that through our shows and certainly through the flagship, Royal Bath and West Show.” But he says the shows are not just what the Society can offer – it
The Dairy Show is one of the key annual events at the showground
launched a Somerset Levels Relief Fund in 2013 later renamed the Somerset Levels Development Fund. And the society was recently awarded £50,000 by the Prince’s Countryside Fund for its work with Somerset County Council to identify the areas of the 20 year flood action plan. Mr Cox is also keen to expand the society’s youth activities. He says: “We need to show young people that there are still careers in agriculture and in associated work – no-one is doing that in the area.” And revitalisation of the 240 acre showground is also one of his goals; a consultation by Mendip district council for a Local Development Order (LDO) designating 8.2 hectacres into an enterprise area has recently finished. Says Mr Cox: “An enterprise zone would encourage inward investment with support from gover nment. “I am particularly keen to harness the opportunities there are for developing a commercial hub for farming, food production and research opportunities.” He wants the showground and its facilities to meet the expectation of visitors and says: “We have to create a capital revenue stream through our regeneration and development plans; that will be the focus over the next couple of years.” Mr Cox wants the showground to become the ‘go-to’ venue in the area and says: “We are very lucky to have a theatre which will seat 150-180 people; very few people know that. “It creates opportunities for conferences, lectures and demonstrations. “People can come here and hire a quality room for 15-20 which is fully catered and in such wonderful surroundings or hire the Showering Pavilion that will hold several thousand people.” But top of his list of goals is to ensure the Society delivers three successful shows – Grassland UK which takes place on May 7, The Dairy Show on October 7 and the iconic Royal Bath and West May 27-30. Early-bird tickets are on sale now for the Royal Bath and West with kids free on advance tickets – visit www.bathandwest.com to find out more.
38 BUSINESS GUIDE 2015 THURSDAY JANUARY 22 2015
‘We risk seeing the emergence of a twospeed online economy resulting from poor rural broadband infrastructure’
Rupert Cox is the new chief executive of the Royal Bath and West Society, below, Hereford cattle at the Royal Bath and West Show PICTURES: STEVE ROBERTS/FRAN STOTHARD WBG-E01-S2
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THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 39
Sport
Ubiquitous team kit at stadia in the West is a hi-vis jacket and hard hat
also see the creation of elevated walkways around the parade ring among a raft of improvements to the opinion. Down at Taunton the gentle thwack of willow on leather has been replaced by the sound of hammers banging as a major project to bring the County Ground up to international standards takes place. A £4 million project began at the end of the 2014 season and after a successful demolition of the Old Pavilion the steelwork of the replacement is starting to take shape and shows the obvious progress. The project also encompasses the replacement of the St James Stand and much improved corporate hospitality and media facilities, plus a high-quality rooftop viewing area. In only two years’ time Somerset will begin a new era of hosting international cricket at the County Ground when they host one of the three T20 Internationals between England and South Africa in 2017. The news has certainly got the thumbs up from everybody at the club, especially from former England international Marcus Trescothick who said: “This is really great news for Somerset. I know that everybody has been working hard to make it happen over a period of time now so to get the reward like this is absolutely brilliant.
The West’s sporting infrastructure is being radically improved thanks to a series of multi-million pound projects . Richard Bache looks at the massive investment that is providing renewed belief that the region can really punch its weight in sporting circles The safest bet at the Cheltenham Festival in March is that it is unlikely the West will see another year like 2015 for sporting infrastructure investment any time soon. Not only will the impressive £45 million new stand taking shape at Prestbury Park loom over the thronged thousands at the Festival, but 45 miles south west equally substantial building works are in progress at Bristol City’s Ashton Gate stadium. With Bristol City vying with West rivals Swindon Town for leadership of League One and Bristol Rugby enjoying a stellar first season after moving from the Memorial Ground these are clearly exciting times at the Gate. With both teams now under the auspices of Bristol Sport there is an obvious sense of momentum gathering in BS3. The first phase of the £45 million revamp of Ashton Gate is taking shape, the Robins are regularly performing in front of sell out crowds and Bristol Rugby are drawing the sort of audiences in the Championship that have made Aviva Premiership teams sit up and notice, not to mention cause envious glances from Pro 12 teams across the Bristol Channel in Wales. Both sides are short-priced favourites to win promotion and although fans have experienced false dawns before, there is an undoubted feeling that this could be the city’s year. If the promotions do happen, then both teams will be playing in a much-improved stadium next year. The Wedlock stand has been demolished – the celebrated East End shedman has had his fifteen minutes of fame – and the new stand grows day by day. Ben Swift, who attracted international publicity, sprung to prominence by enjoying one of the best free views in British sport from the roof of his shed. Now that the new stand has obscured his view the club have given him a ticket for the rest of the season. Ashton Gate will eventually have a capacity of 27,000 and the major rebuild is seeing huge in-
vestment by owner Steve Lansdown in improved conference facilities, shops, bars and catering options. Once work on the Wedlock stand is complete then the Dolman stand will be revamped, before the demolition and rebuild of the Williams stand. Main contractor Barr Construction, along with Bristol Sport and government construction database Constructionline also worked together to ensure local companies got the chance to work on the £45 million scheme. The project has been a long-time in the making, but after the frustration of proposals for a new stadium at Ashton Vale falling victim to a bitter planning wrangle, the revamp of Ashton Gate is demonstrably continuing apace. As is development at Cheltenham Racecourse, where more than 200,000 punters will enjoy National Hunt racing’s premier occasion in March. The hordes from across the Irish Sea, those up from London and the stalwarts from the shires will witness marked progress at the racecourse. The £45 million revamp of the West Country’s biggest sporting venue will be complete in time for the 2016 festival, but substantial progress has already been achieved. The Jockey Club-owned venue employed a novel approach to financing the improvements, which amount to its largest-ever single capital investment. The package includes £25m raised through The Jockey Club Racecourse Bond – the first retail bond in British sport - with the remainder secured through bank financing, a Levy Board capital fund loan, commercial deals and cashflow from trading. Kier is the main contractor, an appointment which built on its track record of major projects at Cheltenham, including the £17m construction of The Centaur building, one of the largest events spaces in the South West. A state-of-the-art new grandstand is being built alongside Cheltenham’s existing main grandstand and the project will
40 BUSINESS GUIDE 2015 THURSDAY JANUARY 22 2015
There is an obvious sense of momentum gathering in BS3 as the revamp of Ashton Gate takes shape
The new stand at Ashton Gate is beginning to really take shape. Second down, Mike Henderson of Barr Construction looks on at the progress. Bottom, East End shedman Ben Swift PICTURES: JOE MEREDITH/JMP AND DAVE BETTS
“I might make an England comeback just for that day in 2017 if I could, but it would have been amazing for me to have played an international game on my home ground.” The radical development at Taunton follows swiftly on the heels of major improvements at old West rivals Gloucestershire’s ground at Nevil Road, Bristol. It has been a regular on the international circuit over the past decade, but has won the right to stage seven international games between 2017-2019. Back on football and it is very much a waiting game as far as Bristol Rovers’ new stadium at UWE is concerned. Full planning permission for the 22,000-seater stadium is in place, but the club continues to work through the legal challenges of the sale of the Memorial Stadium to Sainsbury’s in order to fund the stadium. Chairman Nick Higgs last week featured on the front page of the Gulf Weekly spelling out the attractiveness of investing in the ‘sleeping giant’. He said he wasn’t anticipating to be inundated with offers, but there was no harm in raising awareness of the club’s potential. However, whether 2015 will see the West’s longest-running sporting stadia challenge – Bath Rugby’s seemingly eternal battle to re-develop its ground at The Rec – being cracked, remains to be seen. WBG-E01-S2
Sport World Cup excitement Gloucester is renowned as one of England’s genuine rugby hotbeds. And it is fair to say the city is getting excited about hosting Rugby World Cup games this autumn. Kingsholm will host clashes involving Tonga, Georgia, Scotland, the United States, Japan and Argentina in September and October. Welcoming visitors from the USA and Japan in particular will raise the city’s profile to key international investment markets. The fixtures will bring tens of thousands of visitors to the city and provide a welcome boom to the city’s tourism economy. Fans have already been booking rooms at Gloucester hotels ahead of the tournament, with signs that the city is a premier destination for foreign travellers. Overseas fans from some of the competition’s most fancied teams – which will not even play in any of the Kingsholm fixtures – are choosing Gloucester. According to Hatton Court Hotel on Upton Hill, fans from Australia and New Zealand, whose teams will play in London, Wales and Birmingham, have chosen the hotel en-masse to
Welcoming visitors from the USA and Japan in particular will raise the city’s profile escape the big cities in between the major games. “We are getting people whose teams are playing in London and Cardiff coming to stay,” said Simon Hanna, general manager for Hatton Court. “They are all rugby fans – mainly from Australia, New Zealand and South Africa who are coming over here for five or six weeks. “We have about three groups of between 30 to 50 people who are coming to stay and watch the rugby. Most of them want to escape the bustle of the cities outside of the games.” Meanwhile the person in control of Gloucester city centre says it will deliver the Rugby World Cup like no other city, Jason Merritt joined the city council as city centre manager in September and says he couldn’t have picked a better time to come on board. “It is a fantastic time to be in Gloucester at the moment and I don’t want to be anywhere else,” said Mr Merritt, who previously worked as operations manager at King’s Walk Shopping Centre. “I am a cog in a finely tuned machine that is going to deliver the Rugby World Cup like no other city,” he told the Gloucester Citizen. “We are looking at opportunities and there is an idea of bringing some sort of festival to the city during the Rugby World Cup so watch this space. WBG-E01-S2
Main picture; New Year’s Day crowds at Cheltenham with the new stand in the background. Above, from top; Gloucester is welcoming the Rugby World Cup, the Cheltenham revamp and supporters in the now demolished Old Pavilion at Taunton
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Commercial Property
More confidence in planning for expansion in 2015 Commercial property development is under way, but it is a case of steady as we go, writes Simon Tothill – director, Robert Hitchins Ltd, Gloucestershire Having experienced the sudden demise of the development market in 2008 we at Robert Hitchins experienced a noticeable increase in occupier interest and improved market conditions throughout 2014. We believe this will continue to build throughout 2015 and onwards and we are now on site,
building for occupiers, preparing planning applications and dusting off our development appraisals. Throughout the South West region, the picture is one of businesses large and small looking to invest – albeit cautiously. This sea change follows a gradual increase in business confidence in the eco-
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nomy and a realisation that now is increasingly a good time to plan to expand. Good news such as the European Commission’s ratification of the Hinkley C development and the increase in spending on infrastructure has helped and the amount of investment proposed in the nuclear industry both at Hinkley C and Berkeley will have a significant effect on business activity along the M5 corridor. Following years of little or no development, the supply of readily-available commercial buildings is starting to diminish through a combination of increased occupier demand, the advent of permitted development rights allowing offices to change to residential without the need for planning permission and the unremitting requirement for student housing . Locations such as Bristol are now likely to experience a time lag before any new development is delivered to the market as developers consider their risk profiles and decide whether to speculate or focus on identifying and securing pre-lettings before starting on site.
The two major speculative office developments in Bristol (the 100,000 sq ft 2 Glass Wharf and 58,000sq ft 66 Queen Square) have secured significant lettings well before practical completion and the only other Grade A office building currently on site is Narrow Quay House that was predominantly pre-let prior to start on site. In the industrial sector there has been an increase in demand with little immediately available supply. Demand from the likes of internet-related retailers and logistics companies is driving the development of bespoke buildings on strategic sites close to the M4 and M5. We have also experienced an increase in demand from technology-based companies and are shortly to start on site to build a new 52,000sq ft B1/B2/B8 facility for Sartorius Stedim Lab Ltd at our highly successful Stonehouse Park development. There are others too. The retail market is continuing to experience a restructuring. Most multiple retailers are seeking to put in place strategies that maximise the blend of internet, click and collect and bricks and WBG-E01-S2
mortar. This is likely to result in fewer High Street and out-of-town requirements but those strategic locations where stores are required may often be larger. All in all throughout the South West we are experiencing an improving market sentiment with a limited ready supply of modern and flexible commercial buildings. With increased demand and reduced supply comes improved rental levels and purchase prices. This together with a loosening of bank funding to the more established developers means that the acquisition and development of commercial property is now fully back on the agenda. Certainly Robert Hitchins is pushing the development button and is seeking new opportunities to work with occupiers and landowners. My one frustration is that the General Election is a couple of years too early. Political uncertainty and politicians misbehaving won’t assist a recovering commercial property market. Let’s hope they can behave and that it’s not too rough a ride that affects business perception for growth.
Commercial Property The commercial property market, by Simon Tothill director, Robert Hitchins Ltd, Gloucestershire Which areas of the West Country do you see as being particular hotspots this year? Towns and cities along the M5 corridor are likely to benefit from the proposed investment in the nuclear energy market at both Hinkley and Berkeley. This is already being felt with recent deals in Gloucester to Horizon Power Services and in Bristol with significant lettings to the likes of EDF. What effect are you seeing – or do you expect to see – on the commercial property market in Somerset due to Hinkley C? The effect will be significant throughout the region. In Somerset there is likely to be a resurgence in demand for commercial accommodation to service the companies directly involved with Hinkley C and those in the supply chain. There will also be an inward migration of workers involved in the construction and servicing of the scheme that should also benefit retail and leisure outlets. What trends should we look out for in the commercial property market in the West Country in 2015? I hope that 2015 follows the trend of 2014 with increased business confidence resulting in greater occupier demand for office and industrial accommodation. This is likely to be tempered by political uncertainty in the run-up to May’s General Election. The retail market will continue to focus on strategic locations for multiple retailers to suit their ‘multi channel’ businesses and, with continued downward pressure on food prices, no real return to large food stores. The leisure market is set to continue its growth but that will slow near the middle of the year.
Robert Hitchins Limited is one of the leading property developers in the South West and South Wales. Established more than 50 years ago, the Robert Hitchins Group is eminently placed to manage the full development process, from site acquisition and planning through to development and investment. It has extensive and significant interests in land, developments and property in the regions within which it operates. The company has developed more than 17,000 houses and more than 2,000,000 ft2 (185,800 m2 ) of commercial property as well as refurbishing more than 1,000,000 ft2 (92,900 m2 ) of existing buildings. There are two main sides to Robert Hitchins’ business: Properties (Commercial), and Land and Estates, based at Boddington Manor near Cheltenham. They have developed a range of commercial buildings for occupiers including British Telecom in Quedgeley, G4S in Tewkesbury, Matalan and Next in Quedgeley, and Airbus at Newport. The company has been involved on an individual basis and as a consortium member in the development of large estates such as the 300-acre site at Severnside near Bristol, and the 340-acre Kingsway site which is providing 3,300 homes, 40 acres of employment land, community and leisure facilities, retail, sports area and a primary school. www.hitchins.co.uk
Do you envisage supermarkets selling some of their land holdings given the seeming decline of big-box stores? The food store market continues to go through a significant transition. I believe we will see few if any new ‘big boxes’, with the emphasis instead on convenience shopping and smaller store formats. A significant number of sites are likely to be brought to the market which will involve a significant write-down in value for the supermarkets. Will Bristol’s European Green Capital status alter the types of office building brought to market in the city? The title will add further marketing status to what is already regarded as one of the UK premier business locations outside London. As to whether it will result in significant changes to the type of office building brought forward in the city, I remain sceptical. It may result in (hopefully) some new requirements from ‘green-led’ businesses wishing to relocate into the City which would therefore make a change to the buildings they require. I believe that any changes will principally
be occupier-led although increasing legislation and obligations through building regulations and a greater realisation by business of the need to be sustainable will drive an improvement in their green credentials anyway. Do you see uncertainty surrounding the outcome of the looming General Election having an impact of the commercial property market? Uncertainty is the biggest threat to the recovery of the commercial property market. Businesses need to plan for the future in order to grow successfully and sustainably. The General Election is likely to impact negatively on the market as politicians trade punches with seemingly little reference to the delicate nature of the recovery. Nevertheless, I think the market will continue to improve through 2015, slowing significantly before the May election and picking up thereafter. Given the success of initiatives such as the Engine Shed in Bristol do you envisage more ‘incubator’ type developments suitable for small start-ups? The Engine Shed is a great initiative. We are seeing a number of examples of incubator type schemes including those at the Science Parks at Exeter and Bristol. Robert Hitchins has been successful in delivering this type of smaller unit accommodation within its own Bonds Mill development at Stonehouse near Stroud, a refurbishment of a former Mill building with office suites from 109sq ft to 2,500sq ft. We continue to be successful in letting suites to new and growing businesses and then transferring them onto our Stonehouse Park development when their business is more established. Are there any tax or legislation changes you’d like to see to boost the market? The reform of business rates is an absolute must: a totally unfair tax on business which is doing significant harm to the economy. I would also remove empty commercial properties from the rates liability. We have lost significant amounts of commercial floor space to demolition when owners find it too expensive to wait until a new occupier is found or refurbishment can be undertaken. Are investors finding it easier to secure finance for property development? Bank lending for development remains fairly tight. Banks will often only deal with well-established property companies that have a strong track record and can put significant equity into the proposal. Even then the deal will be subject to stringent credit control. Is the rise in online shopping being mirrored by a rise in distribution/logistics properties in the West? Yes. We have seen a number of warehouse buildings being procured throughout the region and particularly with Avonmouth. This is only likely to continue as the internet market grows. WBG-E01-S2
Above; the proposal for The Office Campus @ Barnwood; top, G4S in Tewkesbury Robert Hitchins to deliver landmark office buildings for Gloucester at Barnwood Point. Robert Hitchins Ltd has plans to deliver three landmark office buildings for Gloucester in the next year in a move which demonstrates growing confidence in the local economy. The property developer, based at Boddington, is to build a new office block in Barnwood, providing 42,800 sq ft of prime accommodation. It will also refurbish two existing buildings on the same site, henceforth to be known as The Office Campus @ Barnwood Point. The site is located at one of the main gateways into Gloucester fronting Corinium Avenue and close to Junction 11a of the M5. A planning application has been submitted to Gloucester City Council which, if approved, will see the whole development deliver a total of almost 90,000 sq ft of new and refurbished office accommodation, with the capacity for up to 500 staff. The two refurbished buildings, once the HQ of Birds Eye Wall’s, will provide 12,500sq ft over three floors and 30,600 sq ft over four floors respectively. The new building will provide 42,800 sq ft over four floors. Robert Hitchins Ltd hopes to appeal to a wide range of occupiers ranging from businesses with smaller office requirements to major corporates seeking a prominent, well-located headquarters building. Property and Development Director for Robert Hitchins Ltd, Chris Haslam, said: ‘The Office Campus @ Barnwood Point will dramatically enhance the approach to Gloucester from the east. A new lease of life will be given to the refurbished office buildings and, with the development of a new office building, will add impetus to investment, development and employment opportunities in the area.’
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Tourism
Rock star appeal of our region
Talking tourism Richard Bache It was the sort of publicity that no marketing budget could ever buy and now the West’s tourism industry knows it has to capitalise on it. As endorsements go the seal of approval from US President Barack Obama is pretty hard to beat. Photographs of Mr Obama walking among the historic stones at Stonehenge graced front pages across the globe. The Wiltshire monument is now reaping the benefit of a £27 million investment in improving the vis-
itor centre – plus basking in a little presidential attention. Stonehenge is but one of the jewels in the West’s tourism crown however. The Cotswolds, Weston-superMare, historic Bristol, Bath and Wells, rural Somerset and Dorset, Weymouth and many other places up and down the region have undoubted charms. But according to some industry figures what is really needed is a more structured system of support for promoting the region. VisitBritain has forecast that
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spending by overseas visitors is set to reach record levels of around £22.2 billion in 2015. However, Bob Smart, chairman of VisitSomerset, told the Western Daily Press earlier this year that some other regions get far more support from the Government for their tourism sectors. He said: “We get strong support from VisitEngland and VisitBritain from their very limited budgets, and Somerset does well generally with domestic and overseas visitors, as we’re an easy drive from London, the Midlands and the Channel ports, and have good airport connections. “However, central government needs to do much more to support the West Country’s most important industry. It’s not a question of writing a blank cheque. Govern-
‘Central government needs to do much more to support the West Country’s most important industry’
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ment could help us kick-start important new initiatives which will boost employment and productivity, and bring in even more overseas visitors. “Some other regions are supported far more generously than the South West. “What we’re calling for is a level playing field. If central government doesn’t want to give us any money, it can save us some money by abolishing VAT on tourism transactions, bringing us into line with most of Europe. “I can’t think of any single step which would boost British tourism more, while also boosting the national economy.” Culture Secretary Sajid Javid , who grew up in Bristol, said: “The tourism sector is driving economic growth for Britain. “Britain has so much to offer tourists with our stunning countryside, great heritage and worldclass sport and culture. “Working closely with the tourism industry we will continue to champion the UK abroad as part of our long-term economic plan.” Visitors from the USA are still the biggest spenders during trips to the UK. The French visit Britain the most with Germans second. Meanwhile tourism bosses in Weston-super-Mare predict an encouraging boost in visitor numbers to the area for the forthcoming tourism season, following a rise in visits to the official destination website for Weston-superMare. An increase of over 60 per cent in visitor numbers has been seen between 26th December and 10th January, they key “post-Christmas and New Year blues” period, when it is estimated that over 40 per cent of consumers look at booking a short break or holiday following the festive season. Compared to the same period in 2013/14, there has also been an increase in requests for the 2015 official destination guide of just over 72 per cent. Love Weston tourism manager, Deborah Matthews, said: “These are really encouraging signs, especially as this time of year is key to attracting tourists.” Last week the Wye Valley and Forest of Dean Tourism Association was addressed by Lady Cobham, chair of VisitEngland, and Manon Antoniazzi, CEO of VisitWales, at Wye Dean Tourism 2015, the region’s first business of tourism event, held at Chepstow Racecourse. They unveiled the English Welsh Tourism Partnership – significant as it is one of the UK’s first cross-border tourism bodies. Caroline Anderson, chair of the Wye Valley and Forest of Dean Tourism Association, said: “Tourism is worth more than £300 million to the local economy and 2015 will see more initiatives designed to bring even more visitors to the region.”
Hinkley Point C Building better energy together
Are you interested in working at or supplying the Hinkley Point C project? Hinkley Point C nuclear power station in Somerset is a construction project greater in scale than the London Olympic Park.
each year during construction and over 25,000 job opportunities will be created. Somerset firms interested in finding out more should visit www.hinkleysupplychain.co.uk
It is a transformational opportunity for Somerset’s economy and will power five million homes. Once a final investment decision is made the regional economy is set to benefit by £100 million
Jobseekers interested in current employment opportunities should email hinkley-jobs@edf-energy.com
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THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 45
South Bristol
Is South Bristol on cusp of a ticket to the economic ball? While North Bristol grabs the headlines and investment, the south of the city has been left behind on jobs and prosperity. Gavin Thompson asks, is it time for Cinderella South Bristol to go to the ball?
Bristol’s property market appears to be booming again. Cranes can be seen across the skyline, there are hundreds of homes being built in big residential developments in the city centre and northern fringes. Proximity to the M4 and avail-
able land makes the area attractive for employment sites too. It is home to the local aerospace sector, with marque companies such as Airbus and Rolls-Royce, employing about 7,000 people between them in largely highly skilled jobs. The Avonmouth and Severn-
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side area is on the rise too, with Europe’s biggest brown-field development site being eyed mainly by the distribution and warehousing sector. The proposed new M49 junction announced in December’s Autumn Statement should help this momentum build. What of poor old South Bristol? Surely it’s time to get that market moving. Paul Hobbs, of commercial property agency GVA, says the reasons for the area’s relative poverty are long standing but not always helped by policy. “For those wanting to travel from the south of the city to the north there are rivers to cross, narrow streets, new speed limits and well-known bottlenecks,” he says. “As we have seen with similar problems in Gloucester and Bridgwater – the winners on the economic development front are those on the motorway corridor. “In the industrial space market, warehouse enquiries dominate 80:20 over manufacturing. The parcel carriers, trade counters/ merchants, supply chain businesses such as Amazon, DPD and Royal Mail can’t risk vehicles
Top; Members of the South West branch of the Association of Women in Property being given a tour of the new Filwood Green Business Park by members of the Midas Construction team leading the project. Above; Ashton Gate revamp could help provide jobs WBG-E01-S2
taking more than one hour to get to the motorway network.” Paul says the 1960s employment stock in South Bristol is another issue, making up some of the lowest grade premises in the city. “Cramped estates at Brislington, Cater Road, Ashton Vale, Novers Hill and Hengrove have declined because the demand market has changed,” he says. Things are finally looking up, however. The new Filwood Green Business Park is creating 40,000 square feet of workshop and office accommodation and is expected to support 350 jobs. The landmark offices for Imperial Tobacco and the redevelopment of the Ashton Gate stadium are changing the face of the Winterstoke Road area and providing spin-off for local businesses. The Bottle Yard Studios in Hengrove is proving a hit in the media industry, with a growing number of productions film there from Deal Or No Deal to Trollied and BBC drama Wolf Hall. Bristol Airport has a £120-million expansion plan including a 200-bed hotel. Further expansion is planned at Imperial Park too.
South Bristol
‘Restrained however by its topography, lack of inward investment subsidy, and lack of significant scale employment sites’
But the improvement is limited by infrastructure. “South Bristol is restrained however by its topography, the lack of inward investment subsidy, and by the lack of significant scale employment sites that could attract new major employers to the area,” says Paul. The proposal for the South Bristol Link Road, which has cleared planning hurdles, is the biggest hope for the area. As Paul puts it: “The most obvious opportunity to improve the situation is the A4174 ring road with the missing links at Stockwood to Hengrove, and Long Ashton to Whitchurch. The South Bristol Link has all the permissions it needs to start building. Now awaiting full approval from the Department for Transport, release of the funds to start this much-needed project to open up the south of the city is expected in 2015. “In commercial terms this will be a major bonus for South Bristol and make it a more realistic location for new investment and renewal of the existing stock. “The fact that it will open up the expanding employment opportunities of north Bristol to the labour market of south Bristol is a huge advantage for the whole city.” Paul Matthews, from the Bristol office of commercial property Bruton Knowles, agrees. “South Bristol has for too long been the Cinderella area for commercial property in the region,” he says. “Plans for a South Bristol Link Road have been talked about for decades and there is no doubt that if it does happen it will go a long way to ensuring that Cinderella finally gets to the ball. “In many ways South Bristol’s time is about to arrive.” He says despite poor infrastructure, the area has a real asset in its workforce. “The strength of the local labour market has meant that some pockets of commercial property have remained strong with Cater Road, Bishopsworth, Hartcliffe Way and South Liberty Lane all providing good bases for local businesses and consequent employment opportunities. Our surveys have shown that many people in South Bristol work in the Avonmouth and Port of Bristol area and the new link road will help them with their daily commute. “But more importantly it will encourage businesses to locate themselves in South Bristol, especially if a link into South Liberty Lane is opened up at Brookgate and some new commercial development is allowed along the route.” Paul believes the road will lead to the quality of the workplaces in improving as older stock is refurbished and brought up to date. “It will be a big advantage for the green credentials of the area as people will be able to work closer to home,” he adds. “South Bristol at the moment does not have enough workplaces for the number of houses and that surely has to be addressed. Providing easier access to the area will change that balance.” Perhaps the link road will be the glass slipper many south of the river having been waiting for.
Bold new face of Keynsham sparks revival Just over the local authority border from South Bristol a £34 million redevelopment has revitalised Keynsham town centre. The project, which took some three years to come to fruition, has seen a raft of new shops and bars open for business in the Bath and North East Somerset town. The project has seen the regeneration of Keynsham Town Hall in the heart of the town centre, plus a swathe of other improvements including: – ■ 100,000 sq ft new build mixed use development ■ 18,000 sq ft of new retail space ■ Council offices providing 70,000 sq ft for 650 staff ■ Adjacent to refurbished multi storey shopper car park providing 175 spaces ■ Over 600 public car parking spaces within 5 minutes of Market Walk ■ Creation of innovative One Stop Shop and library ■ New public square Among the businesses to move into the regenerated area include fastgrowing Bristol-based cafe bar chain Loungers. The company invested £550,000 to convert a former empty unit into its new Bonzo Lounge cafe and restaurant on Marketplace, which opened in November. Loungers operations manager, Jeremy Burton-Dickie told the Bath Chronicle: “We’re delighted to be part of this amazing new development and Keynsham is the perfect site for our
£34m The cost of the major redevelopment of Keynsham town centre
Artist Sebastien Boyesen won a contest to design a clocktower for the development in Keynsham. He used a patchwork of glass and acrylic panels to capture the history of the town in the six-metre high tower WBG-E01-S2
Lounge concept. There’s already a thriving and vibrant community and we’re really looking forward to playing our part in the foodie scene here. “Keynsham residents will be served by the very best – our new team is very passionate about hospitality. “Training includes expert guidance from one of Europe’s most acclaimed baristas.” Sainsbury’s opened a ‘Local’ sore at the Marketplace, which created in the region of 25 jobs, a similar number to the Bonzo Lounge. Artist Sebastien Boyesen won a contest to design a clocktower for the development. He used a patchwork of glass and acrylic panels to capture the history of the town in the six-metre high tower. The clock will be constructed out of a solid granite plinth with a polished finish and supporting framework of stainless steel. Bath and North East Somerset Council believes Marketplace will be the ideal spot for high street retailers and restaurant chains, serving a catchment population of more than 285,000 residents.
THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 47
Creative and Digital
Film makers can have adventures in space – there’s plenty of it here starring role Michael Ribbeck Turning a former wine warehouse in South Bristol into film studios is turning into a vintage idea. When the idea was first aired it was fair to say there were a few doubters. But a little over four years after The Bottle Yard was first opened for business and the doubters are about to be proved spectacularly wrong. The aim was to attract top film and TV productions to the studios in Hengrove by offering them the latest technology allied to one of the most important commodities in the business – lots and lots of space. The huge warehouse, which was once the home of Harveys and Constellation Europe, covers more than 13 acres of open space. Film and TV companies looking for space to build sets and create whole new imaginary worlds have come flocking to Bristol ever since the opening. And this year is set to kick off in spectacular style for Bristol’s very own film studios with two major productions about to hit the small screen. The team behind the Bottle Yard are hoping that as more and more high profile programmes are made at the studios even more productions will be made in Bristol’s answer to Hollywood. The studio ended 2014 on a high with the release of The Lost Honour of Christopher Jefferies – the ITV drama which told the story of how Joanna Yeates’ landlord was wronged by the national press. As well as showcasing what the studio can offer, the city of Bristol also went on show in the two-part special. But as 2015 kicks off two far more ambitious TV programmes are about to hit the small-screen – one in America and one here in the UK. And the two dramas could not be further apart – one is a sweeping historical drama based on the books of one of Britain’s favourite authors, the other a musical adventure featuring gallant knights and damsels in distress. The highly anticipated and eagerly awaited Wolf Hall, which is being screened at the end of the
month on BBC Two, is set to be the first major drama series of the year. Based on the historical novels of Hilary Mantel, it tells the story of Henry VIII’s bloodthirsty reign seen through the eyes of his chief advisor Thomas Cromwell. The heavyweight drama stars Damian Lewis as the capricious king and Mark Rylance as the advisor who was always willing to ensure that Henry got exactly what he wanted whatever the cost. The story follows the complex machinations and back room dealings of a power broker – from humble beginnings – who must serve king and country while navigating deadly political intrigue, the King’s tempestuous relationship with Anne Boleyn and the religious upheavals of the Protestant reformation. Wolf Hall will be shown at the end of the month but Galavant made its debut on screen in the US a little earlier this year. The ABC network has been showing the musical drama, which owes a very large debt to Monty Python’s Holy Grail version of the Middle Ages. The American series comes with a major Hollywood pedigree and is already being tipped to be a major hit in the States. The screenwriter and executive producer Dan Fogelman was involved in a string of hits including Crazy Stupid Love, Tangled and Cars. And the man behind the songs is the Oscar-winning composer Alan Menken who wrote the music for The Little Mermaid, Aladdin, and Beauty and the Beast. Galavant stars Joshua Sasse as Galavant, Timothy Omundson as King Richard, former footballer Vinnie Jones as Gareth, Mallory Jansen as Madalena, Karen David as Isabella and Luke Youngblood as Sid. But there are also a series of high-profile cameo appearances in the show including the likes of comedian Ricky Gervais and movie star Rutger Hauer. Fiona Francombe, the managing director of the studios, said: “We were quietly proud to have been home to the Galavant pilot earlier this year, and we’re
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Main picture; Wolf Hall, above; The Lost Innocence of Christopher Jefferies and right; Galavant, were all filmed at the Bottle Yard in Hengrove
thrilled that ABC Studios have now decided to base the full series at The Bottle Yard Studios. “To have secured a booking from a major international studio like this is confirmation that our facilities are competing at the highest level against other spaces in the UK production scene.” Helen Flint, the UK producer of the eight part TV series, said: “We decided to base Galavant at The Bottle Yard Studios in Bristol because we were confident we’d get a first class service from Fiona Francombe and her team. The studio is conveniently situated for Bristol and the great locations that surround the city.” The Bottle Yard studio at the former Constellation Wines plant in Hengrove is owned by Bristol City Council and provided the setting for the popular Trollied sitcom and more recently the BBC One drama Frankie. Other programmes to have been filmed there also include gameshow Deal or No Deal and the crime drama The Inside Men. WBG-E01-S2
Creative and Digital Glastonbury effect
Case study Dorset goes digital
There’s not a farm in the country that produces an October harvest quite like Worthy Farm. On a single Sunday morning alone some £30 million of ticket sales pours into the Pilton-based Glastonbury Festival HQ during the annual ticket rush. Of course, this is very far from all being profit – as most farms don’t give nearly all their profits to charity or have the considerable input costs of paying hundreds of the world’s biggest music stars. In 2013 alone the festival donated more than £2 million to charities. With the sum split between local causes and major charities such as Greenpeace, Oxfam and Water Aid. It isn’t only charities that benefit from the festival however – it is a major factor on the local economy. Studies carried out by Mendip District Council have shown that ticket-holders and traders between them spend about £27 million off-site and £26 million on-site during the festival period. The festival itself spends in excess of £20 million in staging the event, with much of the spend going to nearby businesses. Plus it provides an incalculable public relations boost, promoting Somerset and the West Country to a global audience. Since 2000, each year the festival has paid over £1 million to charities and local good causes. A vibrant tourist industry is central to the economic well being of Somerset. Having the internationally known and respected Glastonbury Festival as part of the county’s portfolio of attractions is a tremendous benefit. The high international profile of the festival results in some 700 of the world’s media coming to the festival and providing coverage in their different countries. The British Council invite promoters from all over the world to the festival – and the festival provides information for British Embassies overseas.
A concerted effort has been launched to ensure businesses in Dorset are meeting their digital potential. The Dorset Growth Hub has launched a Digital Growth campaign to help companies embrace the power of technology to boost their competitiveness in the local, national and global marketplaces. It is staging a series of events and conferences in Bournemouth, Ferndown and Weymouth as well as drop-in days in Christchurch, Swanage, Dorchester, Shaftesbury, Blandford and Bridport. Digital health checks and grant vouchers will also be available in the free programme of events and activities. It is being delivered in partnership with the Dorset Growth Hub and the Dorset Chamber of Commerce and Industry. Tony Latham, who is a Dorset Growth Hub advisor, said: “The digital world moves at a rapid pace. With thousands of potential customers online every day, it has never been more important for businesses to make sure they are up to speed. “Digital Growth will offer valuable insights into how digital technologies are shaping the business world today and how they can be harnessed to help businesses become more competitive in a fast changing marketplace.” The in-
‘It has never been more important for businesses to make sure they are up to speed’
Acts are top of the economic pops
Downton Abbey, brainchild of Dorset’s Lord Fellowes, is one of Britain’s top TV exports
Mark Ronson and Rita Ora have been given an official seal of approval after they were picked out by the Government as being among chart acts expected to boost the economy. They were on a list of “expected highlights of 2015” put together by the Department for Culture, Media and Sport (DCMS), along with the new series of Downton Abbey and Game of Thrones and writers including JK Rowling. The list was published alongside figures showing the creative industries including films, music and publishing contributed £146,000 to the economy every minute in 2013, adding up to £76.9 billion a year. The DCMS said they also accounted for 1.7 million jobs. Also on the list were Ellie Goulding, Emeli Sande and Coldplay.
Many tourists only know about the area because of the profile of the festival. Local shops, restaurants and pubs also enjoy a significant increase in trade over the festival period. Festival staff, security personnel and the fence crew start setting up the site over a month before the festival, and remain for a similar time after. They consistently use the amenities in the village and surrounding towns. WBG-E01-S2
Above left; Michael and Emily Eavis at Worthy Farm, which has an extraordinary impact on the Somerset economy. Festivalgoers spend at least £50 million in the local economy each year, plus hundreds of businesses and charitable organisations benefit financially from their involvement in the event. Above, the stars who made the 2014 Glastonbury Festival such a stunning success. From top; Dolly Parton, Lily Allen, Lars Ulrich of Metallica and Debbie Harry
teractive conference – E-Marketing and Technology Megatrends: 2015 and Beyond – is being held in partnership with Dorset Superfast Business. It will be on January 29 at AFC Bour nemouth’s Goldsands Stadium from 9am to 1pm. Keynote speakers will be Intergage managing director Paul Tansey and Key Multimedia managing director David Lakins. Two additional Digital Growth events are being held in Ferndown on February 24 at Dudsbury Golf Club and in Weymouth on March 3 at the Pavilion from 9am to 1pm. They will give an insight into new ideas to help companies become more competitive and win more business. There will be keynote speakers with updates on the latest thinking and technology, discussions with the chance to ask questions on such subjects as social media, web design and digital marketing. A series of drop-in days are also being held with the chance to have a digital health check, and apply for grant vouchers for improvements to IT systems or digital marketing activities. The digital health check includes a complete review of IT systems, including hardware, software for finance, marketing and communications.
THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 49
Finance
Where businesses need to go to find finance in 2015
Case study Trunki
Financial perspective Alastair Logan 2014 was a year of dramatic recovery for the UK with many companies in the South West eagerly seizing the opportunities that were created, writes Alastair Logan, South West regional director, Ultimate Finance. 2015 is hard to call, with a very finely balanced election coming up in May, but the outlook for the next 12 months is relatively encouraging, There’s enough momentum in the economy for businesses to remain optimistic about the overall prospects. Having said that, growth brings its own set of problems as far as finance is concerned. Companies need access to capital if they are to invest in extra resources and that is going to mean they’ll probably have to look beyond the banks, as their lending to businesses continues to shrink. Despite a string of government initiatives designed to encourage banks to pump cash into the SME sector the results have been disappointing. Figures from the Bank of England show that outstanding bank lending to businesses fell to £381.5 billion at the end of September, down another 2.6 per cent over the past year – that represents its lowest level since June 2006. Banks now provide over £100 billion less in funding to British businesses through traditional term loans than they did five years ago, a fall of 21 per cent from £483 billion to £382 billion. That has led to asset based finance becoming increasingly popu-
Alastair Logan, South West regional director, Ultimate Finance
lar. Businesses have responded to this lack of enthusiasm from the major high street lenders by eagerly exploring alternative sources of finance. The Asset Based Finance Association (ABFA) reported that the third quarter of 2014 was the biggest on record for the use of asset based finance, with £19.3 billion of funding in use by businesses at the end of the quarter, up 12 per cent on the £17.2 billion in use a year earlier. Businesses are now drawing 37 per cent more in funding through asset based finance (invoice finance and asset based lending) than the £14.1 billion they were at the height of the recession in December 2009. Ultimate Finance is playing a leading role in this change. At Ultimate Finance we have certainly seen a surge in demand for our cashflow and funding solutions, with the rate of new client acquisitions doubling over the course of the year. There was no sign of this slackening as the year drew to a close and we have very ambitious plans for growth over the coming months. The fact is we have ample funds available and as a Bristol-based business we’re eager to lend to local companies with big plans. What’s more, over recent years we’ve developed a number of innovative products that allow us to help SMEs in industries that the banks and other lenders have tended to treat with caution. Our core offerings are still in the area of invoice finance, where we will advance up to 90 per cent of the cash a business has tied up in unpaid invoices. However we now have a wider variety of options which enables us to help a greater range of SMEs than ever before. This enables us to say “yes” where others might have to say “sorry” and to create truly bespoke solutions that offer significant extra benefits to our clients. Given the fact that we have funds to lend, are very much part of the South West business community and have the flexibility to accommodate a wide range of needs and situations, we’re in a very good position to help any local company achieve its goals over the coming months.
50 BUSINESS GUIDE 2015 THURSDAY JANUARY 22 2015
Business start-ups, such as those based at Bristol’s Engine Shed, need help accessing finance says deputy prime minister Nick Clegg Deputy Prime Minister Nick Clegg has launched an initiative to unlock £100 million of finance for regional businesses. With an urgent need for local lenders to be given the capital to lend more to local businesses, Mr Clegg has announced the availability of up to £50m for regionally-focused business lenders through the British Business Bank which will be match-funded by the private sector. Over the past year, the British Business Bank has already facilitated finance for over 21,000 small businesses across the UK, to the value of nearly £1.5 billion. In the South West this equates to £79m and 1,627 businesses. Mr Clegg, said: “Britain’s economy isn’t built solely around big business.”
‘Recognising and supporting this country’s smaller businesses to succeed is integral’
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Many businesses often bemoan the Government, but various schemes have helped small businesses get off the ground in recent years. Healthy finances are crucial to allow you to both invest in your business while protecting it from what the future may bring. One example of a small business which has received government financial support is Bristol-based Trunki. Its innovatively designed products, including the famous children’s suitcase, have enabled it to access a range of government products and services, helping it to take huge leaps as a business. “Trunki has received government support in a number of ways.” explains Rob Law, founder of Trunki. “Firstly, we worked hard to re-shore our manufacturing to our plastics moulding factory in Plymouth, allowing us to benefit from The Patent Box scheme.” The Patent Box enables companies to apply a lower rate of Corporation Tax to profits earned from patented inventions. It is being phased in over a four-year period and once the full benefit of the Patent Box is in effect from April 2017 it will result in a 10 per cent rate of Corporation Tax being applied to such returns. “We have always applied for patents for all of our products to build up our IP portfolio, it’s one of the most valuable assets we have” said Rob. “This scheme is brilliant, allowing us to re-invest more of our earnings back into the business. It motivated us to stay in the UK and not to offshore. It rewards inventive companies too, which can only be a good thing. “Secondly, we received government support through R&D tax credits for the development of our BoostAPak children’s car seat and for the re-engineered version of our Trunki suitcases, which is now easier to manufacture in the UK and to recycle.” There are many types of financial support available to businesses with ambitions to grow. As well as the increasing variety of finance sources now available, such as crowdfunding, bank loans and peer-to-peer lending, there are many government schemes and incentives on top of those Trunki accessed, devised to help small businesses secure the funding they need to succeed. For example, your business may be eligible for financial support packages such as the Enterprise Investment Scheme, SMART grants or Social Investment Tax Relief. Or, perhaps, your business needs the support to secure initial funding to help turn your idea into a reality.
Made in the West
Made in the West Manufacturing Richard Bache A Apps – Bristol is a hot-bed of app design, boasting firms such as Mubaloo B Blue glass. Bristol is famous for it C Cider. Enough said D Drones. Facebook bought Somerset drone firm Ascenta last year E English wine. The Three Choirs Vineyard in Gloucestershire is one of country’s best F Fabric. Fox Brothers in Wellington, owned by Deborah Meaden, weave the finest local traditional cloths G Gin. Bramley and Gage opened a new distillery at Thornbury last year H Hot air balloons. Cameron Balloons in Bedminster are a world-leader I Ink. Bristol is world renowned for graffiti artists such as Banksy J Juice. Sunny Delight and other juices are made at Gerber in Bridgwater K Kitchens. Smallbone of Devizes make some of Britain’s finest bespoke kitchens L Landing gear. Gloucestershire’s Messier-Dowty is the world-leader in aircraft landing M Missiles. MBDA at Filton design hightech weaponry N News. South West News Service in Bristol is country’s biggest press agency O Organs. Whitchurch-based Dean Organ Builders manufacture and restore all sorts of mechanical organs P Perry. Shepton Mallet, the home of Babycham Q Quilts. Midsomer Quilting in Somerset attract customers from across the country R Robots. The Bristol Robotics Laboratory is Britain’s biggest S Shirts. Gloucester-based bespoke shirtmaker Emma Willis recently received an MBE T Touchlines. Bristol-based Pitchmark supplied line-marking equipment to all the venues at the World Cup in Brazil U Underwear. Bath-based sexual entertainment people Lovehoney have contract for Fifty Shades of Grey material V Vacuum cleaners. Dyson at Malmesbury are world-leading designers W West Country cheese. Cheddar, Bath Blue, Double Gloucester etc should all feature on any cheese board. X Xylophone. Gloucestershire-based instrument maker Jamie Linwood makes a range of outdoor instruments Y Yachts. Sunseeker in Poole make some of the world’s finest. Z Zulu Zulu – one of the milder (relatively speaking) sauces provided by Portishead-based Dr Burnorium’s Extraordinary Hot Sauce Emporium.
Clockwise, from top left; Bramley and Gage in Thornbury, South Gloucestershire, installed a new gin still in their distillery last year; Bristol-based Pitchmark supplied the line-marking equipment and paint for the Maracana and all the other grounds at the World Cup in Brazil; Portishead-based firm Dr Burnorium meet all your chilli needs; shirtmaker Emma Willis and famous balloon manufacture Cameron Balloons
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Wiltshire
Solar and soldiers provide boost for Wiltshire economy It is a tale of two distinct halves for Wiltshire’s economy in 2015, reports Tristan Cork . The solar trend shows no sign of abating and £27 million visitor centre at Stonehenge has sparked a massive rise in the number of tourists visiting
The economic downturn of the past decade and the subsequent recovery merely hastened the pace of the transformation of Wiltshire’s economy – from a manufacturing and food production base to one at the forefront of developing new technology.
And 2015 looks like being the year when Wiltshire’s surprising new place as one of Britain’s energy-producing heartlands for the next generation is cemented. For the first century of massproduced electricity, Wiltshire was all consuming and no produ-
52 BUSINESS GUIDE 2015 THURSDAY JANUARY 22 2015
cing. But the huge growth of solar farms now springing up all around the county, coupled with the success of green energy firms like Chippenham-based Good Energy, mean that as well as the likes of Somerset and its Hinkley Point, Wiltshire could eventually be a place that produces – when the sun is out – almost as much energy as it consumes. That might be a long way off, but if Juliet Davenport, the CEO of Good Energy and regular winner of industry awards and top of customer satisfaction surveys, has anything to do with it, it will be sooner than anyone could imagine. The past two years have seen almost weekly planning applications for solar farms in Wiltshire – and 2015 will be the year when the green pastures of the county’s traditional milking lands is replaced by the glint behind the hedge of hundreds and hundreds of shiny solar panels. More than 40 applications have been made in west Wiltshire alone, most of which were given planning permission with little fuss. The area around Melksham,
Main picture; More soldiers will be exercising on Salisbury Plain and above; Wiltshire’s army barracks will be getting busier, as the county is welcoming thousands of British troops home from Germany PICTURES: CLARE GREEN WBG-E01-S2
Trowbridge and Devizes, spreading north towards Corsham, is seen as ripe for solar power generation: for the national and international experts, it has four key assets that other parts of the country might not have. It is relatively flat and not in any protected areas of outstanding natural beauty. It is almost always being grazed or left for silage – with planners keen to ensure the fields can remain, in theory at least, in agricultural production. Land in the south west is far enough south to benefit from the sun’s rays – anything north of Middlesbrough is uneconomical – and far enough west to escape the inflated land prices of London and the south east, and finally, it is close to key pathways in the National Grid – something areas further down the West Country peninsula, or in west Wales, lack. The people of Wiltshire, once famed for their love of raking the moon, appear to back raking the power of the sun – a communityfunded solar farm project run by Wiltshire Wildlife Trust raised millions in only a few months, and council chiefs in Swindon have
Wiltshire
‘A high-profile visit from President Barack Obama gave the county’s tourism industry a very welcome boost’
met relatively small, albeit very vocal, opposition to building Britain’s biggest solar farms on the old RAF base at Wroughton. But one problem with the explosion of solar farms in Wiltshire is that the technology still has to be imported – something that Wiltshire’s most prominent businessman is keen to reverse. Sir James Dyson might be 68 in 2015, but he’s looking to the future with a gigantic expansion of his headquarters in the north of Wiltshire. Dyson has long since left behind its one-trick-pony reputation as a firm that only makes bagless vacuum cleaners – the sight of hand-dryers in every service station toilet and bladeless fans on every desk in California has put paid to that. But now, after steady growth since manufacturing was shipped to south east Asia almost a decade and a half ago now, the company is set to more than double in size in the next five or ten years. And 2015 will go down as the year it happened. Work is continuing apace at the firm’s Malmesbury headquarters, with three new research and development buildings rising higher from the Cotswold countryside next to its existing base on the northern edge of the town. With Sir James intent on investing much of his reputed £2 billion wealth back into turning Dyson into the beating heart of a next generation of British invention, the only realistic obstacle he has to achieving the dream of employing 5,000 engineers and designers from all over the world by the end of the decade will be recruiting them – or being allowed to by evertougher immigration rules. Wiltshire’s economy has always been a tale of two very different counties – the north with its powerhouse of service sector jobs in Swindon, design and engineering jobs in Chippenham and Malmesbury, and the more sparsely-populated south, with Salisbury and its plain dominated already by the British Army. And that influence is set to grow stronger in 2015, and the years following. The Army want to bring more than 4,000 soldiers – with their partners and children, it’s closer to 10,000 people – back from bases in Germany and pack the already army-heavy garrison towns north of Salisbury. Ambitious plans to build thousands of new homes, barracks, bases, schools, doctors and shops have been approved – now it’s a matter of getting the bricks and mortar up before the soldiers arrive. The bases already so synonymous with Wiltshire’s ‘ar my’ – Larkhill, Bulford, Tidworth, Perham Down – all once little villages just north of Amesbury – will effectively merge to create a ‘super-garrison’, the largest of its kind in Britain. And that will have a knock-on boost to Wiltshire’s economy, especially the economy of that traditionally more sleepy southern side of Wiltshire. South Wiltshire is also setting itself with a secondary industry, aside from soldiering, and servi-
cing those soldiers – tourism. The £27 million new visitors’ centre for Stonehenge did not just mean enhanced experiences for the stones on the wilds of the Plain near Amesbury. It also gave multimillion boosts to museums and tourism in Devizes and Salisbury, and the visits of the likes of President Obama and David Cameron – the latter to announce that a tunnel would, after all, be built under Stonehenge – gave the area a real tourism bounce going in to 2015. Increasingly, visitors from overseas – especially the Chinese as well as traditionally the Americans – are including Stonehenge whenever they do venture out of London. Stonehenge’s visitor numbers bobbed along just under a million for years until last year, when an extra 300,000 people arrived – generally by guided tour bus and generally because now those tour organisers from the capital were no longer embarrassed to bring their charges there. And Salisbury, along with Trowbridge, are hoping to cash in on 2015’s expected Obama-bounce – the boost from the world seeing Stonehenge on the news and booking to go visit this year. For 2015 is the 800th anniversary of the Magna Carta, a document which appears to mean more to the likes of Americans and Europeans than it does to us. Salisbury has the finest-preserved copy in the Chapter House of its famous Cathedral, Trowbridge is the hometown of the baron who had a significant hand in writing it.
Growth deal boosts county
From top; West Wiltshire alone has seen more than 40 solar farms approved; Sir James Dyson welcomed David Cameron to Malmesbury and a vast rise in visitors is expected at Salisbury Cathedral’s Chapter House in the year of the Magna Carta’s 800th anniversary. Pictured above, a more modern interpretation, cathedral visitors looking at a display of album artwork for rapper Jay-Z’s Magna Carta Holy Grail in 2013 WBG-E01-S2
Swindon and Wiltshire secured £129 million of investment just before Christmas as Deputy Prime Minister Nick Clegg signed an historic Growth Deal in Wichelstowe. The Swindon and Wiltshire Growth Deal will help to create up to 1,500 jobs, allow up to 2,000 homes to be built by 2021 and generate up to £70 million in public and private investment. Almost £13 million has been confirmed in the first year, and an ongoing commitment from the government will see more than £116 million of funding delivered from 2016 to 2017 onwards. Mr Clegg said: “This significant growth deal will enable a whole host of jobs to be created, see scores of homes built and transport improved. All of this is a major boost to the economy.” Swindon and Wiltshire Local Enterprise Partnership chairman Barry Dennington said: “We are delighted that central government recognise the opportunities in the Swindon and Wiltshire Local Enterprise Partnership to continually enable economic growth. Wiltshire will benefit from a new Science Park in Porton Down and major improvements to Chippenham Station.”
THURSDAY JANUARY 22 2015 BUSINESS GUIDE 2015 53
Food and Drink
Black Cow vodka, the creation of West Dorset dairy farmer Jason Barber, and said to be the world’s first pure milk vodka, is on posh drinks menus in New York
West’s best blazes a trail to world’s discerning markets A record 150 countries worldwide now import British produce to supermarkets, bars and restaurants, taking total sales last year to almost £19 billion – and the West is in the forefront of this exciting trend. Phil Goodwin reports The West’s food and drink industry is helping fuel a record boom in exports overseas, official figures released recently show. Producers across the region are challenging national stereotypes to sell tea to China and chillis to Pakistan. We in the West are more than aware of the quality of the produce grown here and now it appears that the rest of the world is catching up. A record 150 countries worldwide now import British produce to supermarkets, bars and restaurants, taking total sales last year to almost £19 billion, the Government said. Among the success stories from the South West are Dorset Naga chilli seeds, which are being sold to South America, India, Pakistan and Eastern Europe. Black Cow vodka, the creation of West Dorset dairy farmer Jason Barber, and said to be the world’s first pure milk vodka, is on posh drinks menus in New York.
Styles ice cream, from Somerset was shipped out to Norway, Malta and Portugal. John Sheaves, chief executive of Taste of the West, said it was clear now that products from the region could “compete in the global market”. “Some of these firms are now quite big and what we think of as nice brands are now quite sizeable,” he added. Meanwhile, a big deal in the food sector that has already been done this month involved one of the region’s biggest independent breweries being snapped up by a pub company from the Channel Islands. Butcombe Brewery, which was founded in the North Somerset village of the same name in 1978 before moving to bigger premises in nearby Wrington in 2005, has been bought by The Liberation Group. The Morning Advertiser values the deal in the £15-18 million range. Butcombe is the leading
54 BUSINESS GUIDE 2015 THURSDAY JANUARY 22 2015
brewer and pub operator in Somerset, Bristol, Bath, the Mendips and the Cotswolds, with 19 managed pubs and the multi-award winning Butcombe Brewery. The company prides itself on its traditional, classic pubs, prize winning beers, as well as Ashton Press ciders from its wholly owned subsidiary, the Long Ashton Cider Company. Guy Newell, managing director of Butcombe Brewery said: “We have had significant interest from several UK pub and drinks businesses, but for us Liberation Group was by far the best fit with our business. “They share our ethos for high quality products and service and have proved, as we have, that being independent does not necessarily prevent you from being recognised for excellence alongside some of the biggest global names in the industry. This is a new chapter for both businesses and all of the team here is looking forward to being a part of that.” Another drinks firm that has seen huge export success is North Somerset-based Thatchers Cider. It has been the tipple of choice for discerning drinkers in its West Country heartland for more than 100 years – and now the Big Apple is to get a taste of Somerset apples. New York and dozens of other American cities will now have outlets selling Thatchers Gold after the 110-year-old familyowned business announced a tieup with Innis & Gunn. Under the three-year agreement, which commenced in the autumn with the US launch of Thatchers Gold, Innis & Gunn will assume all administrative, marketing and promotional support for Thatchers’ flagship brand through its US subsidiary, Innis & Gunn USA, Inc (IGUSA). Dougal
PICTURE: FRAN STOTHARD
Sharp, founder and chief executive of Innis & Gunn said: “Thatchers Gold is regarded as being one of the best ciders in the world. Thatchers’ commitment to crafting the highest-quality and besttasting cider means that they are the perfect complement to the position that Innis & Gunn has established in the US beer market. “Thatchers Gold will be new to the US, where the cider category is showing explosive growth. “A new generation of American consumers is looking for ciders with heritage, quality and character, so this is a very exciting step and we are proud to be part of it.” The entire cider/perry category in the US is equal to less than 1 per cent of overall beer volume sales, but growing fast. Over the last three years, sales of cider have tripled in the US. Martin Thatcher, managing director and fourth generation cidermaker at the Sandford business, said: “The reputation of crafted English cider is rapidly spreading in the US. Thatchers Gold has gained a well-earned reputation in the UK for its quality and great taste, together with the values of heritage and provenance that it represents. With this continued growth in understanding and awareness of cider, the time is now right for Thatchers Gold to enter this exciting US market and engage with those consumers seeking out new and interesting brands.” Thatchers Gold is crafted at Myrtle Farm, where the Thatcher family has been tending its orchards since 1904. Only a few miles
Being independent does not necessarily prevent you from being recognised for excellence
Guy Newell, managing director of Butcombe Brewery, which was sold earlier this month, said the company had receive ’significant interest from several UK pub and drinks businesses, but for us Liberation Group was by far the best fit WBG-E01-S2
away, what has been described by cookery writer and broadcaster Nigel Slater as “one of the great cheeses of the world” is settling in to its new dairy. Todd Trethowan, one half of the sibling pair making award-winning Gorwydd Caerphilly by hand, moved from their base in West Wales to the new £1 million Trethowan’s Dairy at Puxton Court Farm, near Weston-super-Mare, as a result of their search for “the best possible milk”. They found it in Derek and Alistair Mead’s herd of Holsteins and Jerseys. It tasted great, microbiological tests showed it was of stunning quality and an old fashioned souring test proved that it still tasted great after being left out for three days at room temperature. The Western Daily Press reported last year how the move to Somerset was not as strange a journey for Caerphilly as some might think. Todd Trethowan learned the original recipe from Somerset Caerphilly-maker Chris Duckett 25 years ago, when he spent six months working for the third-generation Caerphillymaker. There was a prospering Caerphilly industry in Somerset between the wars, when Cheddar makers realised it was a quicker way to turn milk into money.
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Fuelling your momentum
Commercial, financial and taxation advice for growing businesses and their owners. At Smith & Williamson, we work with founders and management teams providing end-to-end services to meet all your financial needs. With a dedicated entrepreneurs group that truly understands the complexities of growing businesses, whether it’s raising finance, navigating complex tax issues, expanding globally or seeking an exit, we will be there to support you on your journey from vision to exit… and beyond. Contact Mike Lea, Managing Partner, Bristol office at mike.lea@smith.williamson.co.uk or call 0117 376 2151. smith.williamson.co.uk/bristol
Smith & Williamson LLP Regulated by the Institute of Chartered Accountants In England and Wales for a range of investment business activities. A member of Nexia International. Smith & Williamson Financial Services Limited authorised and regulated by the Financial Conduct Authority. Smith & Williamson Corporate Finance Limited Authorised and regulated by the Financial Conduct Authority. A member of the London Stock Exchange. A member of M&A International. The word partner is used to refer to a member of Smith & Williamson LLP. The Financial Conduct Authority does not regulate all of the products and services referred to in this document.