Absolute Business Magazine Issue 2

The only relevant business magazine for the South East Issue 2. 2014

Gatwick vs Heathrow There can only be one winner

WOMEN IN BUSINESS Glass Ceiling or Sticky Floor?

KARREN BRADY CBE

ExclusivE intErviEw with thE author, EntrEprEnEur and boss of wEst ham

Plus: NatWest Funding Guide Personal Finance Guide Legal Issues Accountancy Marketing Commercial Property Business Travel Editorial Opinion Expert Columns Networking Guide Business Motoring International Trade Local & National News

Issue 2. 2014

For all enquiries please contact: Ian Trevett – Managing Editor ian.trevett@absolutemagazine.co.uk 07584 023635 Maarten Hoffmann – Features Editor absolutebusinessmagazine@gmail.com 07966 244046

Lynne Edwards - Sales Director Commercial & Residential Property lynne@absolutehomesmagazine.com 07931 537588 Anya Zervudachi - Sales Manager anya@absolutemagazine.co.uk 07596 337828 Luke Thacker - Sales Manager luke.thacker@absolutemagazine.co.uk 07568 336402

Daniel White – Deputy Editor dan.white@pinnacle.uk.com

Frida Clementz - Senior Designer frida.clementz@absolutemagazine.co.uk

Alan Prior MD / Publisher

ABSOLUTE LIFESTYLE LIMITED Premier House 11 Marlborough Place Brighton BN1 1UB Tel: 08707 707 765 Fax: 08700 052 082 ian.trevett@absolutemagazine.co.uk www.absolute-business.co.uk

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Absolute Business Magazine would like to thank the advertisers that appear in this publication for their support, and wish them every business success. The contents of this publication are believed to be correct at the time of printing; nevertheless, we cannot endorse, and readers should not rely solely upon, the accuracy of any statements or claims contained herein, without prior consultation with the service provider.

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20. KARREN BRADY

How did West Ham boss Karren Brady take rejection from a Waitrose checkout job? We ask her that, and her thoughts on her recent CBE, in this exclusive interview with the 2007 Business Woman of the Year.

At A Glance 6 NEWS 11 WOMEN IN BUSINESS 20 KARREN BRADY 28 GATWICK vs HEATHROW

30 BUSINESS FUNDING 38 PERSONAL FINANCE 66 MOTORING 74 PETER JAMES 78 RACECOURSE

welcome .

Welcome to issue two of Absolute Business Magazine. The feedback we received from issue one of the magazine was overwhelming - 100% positive. It appears that there is genuinely a desire to have a relevant regional business magazine. Thank you to everyone who took the time to pass on their thoughts and opinions.

I am sure that issue two will be received just as well, if not better. The theme is women in business, so we are very pleased to include an interview with the dynamic force of nature that is Karren Brady. Karren deservedly received the CBE this year for services to entrepreneurship and women in business.

She talks about how she made it to the top, notably in the testosterone-fuelled environment of professional football clubs.

Karren Brady says, “I look forward to the day when it will be unnecessary to discuss the role of women in business.” That day is not here as yet, but is it getting closer? Maarten Hoffmann bravely tackles the issue of whether the glass ceiling still exists and seeks the views of some of the region’s most successful businesswomen.

11

11. WOMEN IN BUSINESS Is there a glass ceiling or a sticky floor for

women in business? We investigate through interviews with some of the leading female CEO’s across Sussex.

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The magazine isn’t all about gender issues though. We continue to provide a wide range of expert analysis and thought provoking comment on all aspects of business. We delve deeper into the crucial debate on where London’s airport expansion should be based (It HAS to be Gatwick!). We have a packed motoring section including the stunning (and downright ugly) new models on show at the Geneva Motor Show and we have a fascinating chat with Chris Coopey of Carpenter Box Accountants. We also meet Davina Wells, the new Executive Director at Brighton Racecourse, just in time for the new flat season.

It is a great read, so please enjoy the only relevant business magazine for the region.

74. PETER JAMES Does the old adage that the better the restaurant view, the worse the food, still stand true? Our food critic and international best-seller Peter James finds out at The Crabtree in Lower Beeding.

Ian Ian Trevett – Managing Editor

QUOTE OF THE WEEK: “I’ve done an awful thing” How Vince Cable broke the news to his wife that he’d invited George Osborne to stay.

CAR TAX UP Company car drivers are about to be hit with higher tax bills with an increase for 2017 – 2019 of 2% for all cars emitting more than 75g of Co2 per kilometre with a maximum cap of 37%. This means that by 2018, all cars emitting 180g Co2/km or more will be liable for the maximum 37% company car tax rate.

In this issue, Lookers Mercedes-Benz tackle this subject with advice on which cars emit what and the related costs. The good news? Fuel duty has been frozen until spring 2015.

MILLIONS BLOCKED MILLIONS of savers will be barred from taking part in George Osborne’s radical pension liberation plans over fears they could spark a sell-off in government bonds. The Chancellor last week revealed shock plans to allow retiring Britons to raid their pension pots for cash — stripping away tax rules that encouraged retirees to buy investments that pay out a steady income. The move has delighted campaigners, who have been complaining about the poor value offered by annuities. It has also proved a big hit with the electorate, with a YouGov poll suggesting 66% of voters think the plans are a good idea. Yet the new rules apply only to savers with modern, “defined contribution” pension schemes. About 7m in old-fashioned final salary schemes will not be allowed to raid their pension pots. The Chancellor has already barred 5m public sector workers with final salary pensions from moving their benefits as it would result in such a large cost to the exchequer.

THE TAXMAN COMETH The taxman will now be able to plunder money directly from your bank account for any amount they feel is owed. The new powers are designed to clamp down on tax avoidance and will give HMRC free and open access to all of your bank accounts. Granting HMRC direct access to a taxpayer’s accounts means that the taxman can take priority over all other creditors.

I am sure we all applaud the government catching tax cheats but is this not a step too far?

We are all aware of cases of mistakes by the taxman and just imagine the battle you would have with them in trying to get money back that had been taken in error.

Blood out of a stone comes to mind.

HOW THE MIGHTY HAVE FALLEN Troubled smartphone maker Blackberry, that was used by just about every politician and movie star for so many years, has reported a net loss of $5.9bn (£3.5bn) for its latest financial year. However, in the three months to 1st March it recorded a smaller than expected loss of $423m, compared with a loss of $4.4bn in the previous quarter. The company said it was pleased with its fourth quarter performance, and that it was on “a path to returning to growth and profitability”. Boss John Chen said the firm was moving to a “sounder financial footing”. Blackberry devices have recently lost out in the high-end smartphone market to Apple’s iPhone and phones powered by Google Android operating system. During the financial year, the company’s losses included $934m on unsold Z10 smartphones and restructuring costs of $512m. Fourth quarter revenues fell to $976m, below analysts’ expectations of $1.1bn.

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April/May 2014

- Business|news -

SNAPSHOTS

MOONPIG.COM I’m betting you sang that blasted theme tune as you read this title? If ever there were a motivator for start-up businesses to grasp the nettle and surge on, it is the owner of Moonpig floating the company with a valuation of £500m, after buying it three years ago for £120m, valuing it at up to 25 times its 2013 earnings. This is fuelling the appetite amongst fund managers for buying into tech-related shares to gain exposure to the migration of shoppers to the Internet. Another, Boohoo.com, a fashion retailer, is set to debut on the market at £560m, therefore laughing, not crying, all the way to the bank.

ECONOMIC WARFARE

EXPORT STARS

The Sunday Times International Track 200 is the definitive ranking of private companies with the fastest growing international sales. The search has now begun for companies that, in the face of tough economic conditions at home, have found new opportunities abroad. Companies have until May 2nd to nominate themselves for the table, which is compiled by the Oxford research company Fast Track with sponsorship from HSBC. The league table being published on July 13th is followed by an awards dinner in London that all 200 ranking companies will be invited free of charge. To find out if your company should be in it, contact Lindsey.uppadine@fasttrack.co.uk or call 01865 297009. For more information on funding and assistance on international trading, NatWest Bank have published their guide in this issue of ABM.

It is reported that Russia has been hammered economically in a single day. A result that would of cost thousands of lives and trillions of Euros to achieve militarily.

Larry Fink, CEO of BlackRock – which controls $4.3 trillion in global assets stated: “In one single day, the capital markets crushed Putin. In one single day, the stock market was down 12%, so 23% for the year. Russia is not an economic power today as it is totally dependent on energy. Instead of having military war, we had economic war and l believe it is this that tempered Putin’s push into Kiev. And in one day, Russia lost”. Goes to show that business, not governments or armies, are in control of this planet – and no one gets physically hurt and it cost the West nothing. But time will tell.

THE PERSUADERS Anyone of a certain age will recall the cult 70’s TV show The Persuaders, starring Roger Moore as aristocratic Brett Sinclair and Tony Curtiss as Danny Wilde. More importantly were the cars – Curtiss in the Ferrari Dino and Moore in the gold Aston Martin DBS as they raced at full chat through Nice in the opening titles. Well now you can invest in the memory as the DBS is up for auction by Bonhams in May and it still carries the original plate PPP 6H. It cost £6,897 in 1969 but the guide price in May is a cool £1 million. Classic car investment is enjoying an all-time high at the moment and what better place to put your spare cash or that pension release.

ZOMBIE FUNDS The City regulator is to investigate firms running 30 million old insurance policies worth £150bn over concerns about “unfair” terms and conditions. The investigation will look at pensions, endowments, investment bonds and life insurance policies sold in the UK between the 1970s and 2000. The Financial Conduct Authority (FCA) will look into policies which penalise savers who want to switch providers.

Insurance firms’ share prices dropped in trading on Friday as a result. Resolution, which owns Friends Provident, Legal & General and Aviva were among the biggest fallers on the FTSE 100 in London, just days after share prices were hit by George Osborne’s plans for an overhaul of the UK’s pension system, and a cap on pension management fees.

- Business|news -

April/May 2014 │07

Driving AMBITION FOR SUSSEX ENTREPRENEUR

A new online car sales portal, specialising in used German cars, has launched.

The brainchild of a young Sussex entrepreneur, AutoAuktion.co.uk has gone live just as latest research reports that sales of quality German car brands soared in the last two years.

Ollie Manning, 25, from Horam, has made a massive investment to create AutoAuktion.co.uk, the only German specialist car-trading hub in the UK. With several years experience in the car trade, he spotted a gap in the market for a vehicle-trading platform focused on specific car brands. He also had the foresight to spot the upward trend of German car sales – Volkswagon, BMW, Audi and Porsche all saw their sales increase in 2013.

Ollie said: “Like any new business venture, there is risk and also great excitement. Getting to this stage has involved obstacles – and there have been a few, but it has been worth it.”

Tyre kicking has gone on-line and backed by an extensive marketing campaign, Ollie is confident that people will soon know that if they want to buy or sell a German car then Auto Auktion should be their first visit.

AutoAuktion.co.uk allows people to buy, sell or auction their German car on the site for just £9.95 a month. For more information visit: www.autoauktion.co.uk also on Facebook and @autoauktion

THRIVING EXPORTS

Exporters from across the South East have celebrated their success in international sales with help from UK Trade and Investment (UKTI) South East. Hosted at the Royal Automobile Club in Epsom, Surrey, the export event included companies that had benefited from UKTI’s award winning Passport to Export programme, and included keynote speeches from renowned rugby union player and world cup winning coach Sir Clive Woodward and Rona Fairhead CBE, UK Business Ambassador and non-executive director for HSBC. Businesses were given the opportunity to build on their international achievements by meeting with UKTI international trade advisers (ITAs) in a series of one-to-one clinics. In the last five years, 935 businesses in the South East have been helped by the award-winning Passport to Export scheme.

Signed, Sealed and Delivered Michael Jones are pleased to announce the acquisition of the Commercial Agency division of Jordan & Cook, which is where founder of the practice Mike Jones began his career in the property industry at the age of 16.

“This is perfect timing for our business, as our Commercial Property department has been expanding significantly in the past year, having enjoyed its most successful period since it began.

With Steve Berrett, our Commercial Partner at the helm, the department has gone from strength to strength,” says Mike Jones, Managing Director.

The Jordan and Cook purchase has involved the transfer of all the commercial estate agency business which includes several substantial commercial portfolios, including large pension funds and major property owners in the area. Michael Jones is now one of the most active, independently owned Commercial Agents in the South East.

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April/May 2014

- Business|news -

SNAPSHOTS

SELF DEFENCE

Shoreham based security company, Blue Diamond Security, have responded to the countless local media reports we hear about attacks on women with the development of a Self Defence Class, exclusively for women. According to figures, 1 in 4 women will be the subject of a sexual attack in their lifetime and 4 out of 5 who are trained to fight back will escape. Blue Diamond is owned and staffed by top professionals with impressive military training and one of their contracted roles is security for the live finals of the X Factor. The course not only teaches self-defence but also cardio fitness, toning and weight management and results in an A Level qualification equivalent.

For more information, contact Richard KendallTobias on 07958 574016 or e-mail richard@ bluediamondsecurity.co.uk.

WESTHAM BUSINESS OPENS DIGITAL DOORS

Identity Signage & Printing, based in Westham has become one of the first businesses in the Eastbourne area to partner with Google Business Photos to open its digital doors, allowing customers to take a 360-degree virtual tour of the inside of its premises. Google Business Photos enables companies to publish panoramic photos of business interiors on Google Maps.

Through Business Photos, customers can walk around, explore and interact with businesses throughthe latest in digital imagery.

“Earlier this year we won an award for our fantastic new office, showroom and workshop,” Michael Gietzen, Managing Director of Identity said. “We wanted to show off the interior of our award winning office and what better way to showcase this than through Google Business Photos. By visiting Google Maps, visitors can virtually step into the offices, workshops, design areas and showrooms and see what we are about and how we work. It also allows us to stand out from our competition on Google,” Michael continued.

The virtual tours were produced by Hamish McDonald, who is one of only a very few photographers accredited by Google in the UK to offer this service called ‘Google Business Photos’. His website for Google Business Photos is www.360bizphotos.co.uk.

- Business|news -

HILTON GO APE Hilton London Gatwick Airport hotel works very closely with Hilton in the Community Foundation as well as different local community centres and charities with the objective of helping young people have a brighter future. One of the upcoming events is being organised by their Business Development Team together with Go Ape in Crawley.

The idea is to create awareness of the different ways anyone – being a company or an individual – can join forces to help the community and give something back. “Hilton Gatwick goes Wild” event will be taking place in mid April 2014 and will consist of the classic Go Ape experience of “Tree Top Adventure”, where different team members – including their Director of Business Development – will be jumping off high platforms, going through tricky crossings and wiping out at the bottom of zip wires in order to raise money for Hilton in the Community Foundation.

If you would like to get involved with any fundraising activity organised by the hotel or would like to organise a whole event in partnership with them, all you need to do is get in contact with their Marketing Manager, Bettina Maduro at bettina.maduro@hilton.com who will point you in the right direction.

April/May 2014 │09

Do you want to be part of a winning team?

Hastings Direct is a multi-award winning business and one of the UK’s fastest growing insurance providers with over 1.5 million customers. We have ambitious plans and we’re seeking talented professionals to join our winning team based in Bexhill-on Sea. As a company that’s going places and yet still small enough to feel like you can make a difference, we can offer genuine development and career progression.

Customer Facing /Contact Centre roles available;

We have many exciting career opportunities;

Customer Representatives Customer Representatives earn up to £18,000 (including basic salary and bonus)

Senior Pricing Analyst - This role represents a unique and exciting opportunity to take the lead in development of Hastings pricing strategy.

We provide our customers with a refreshingly straightforward service and we’d like to hear from you if you enjoy talking to customers and love working in a fast paced, busy office.

Data Architect - The Data Architect is responsible for leading the definition, design, development and governance of the Hastings Data Architecture.

As a customer representative you will be talking to our customers over the phone, providing straightforward service, whilst working in a supportive team that recognises and rewards hard work. We provide first class training in order for you to succeed in your role.

Call Centre Manager - Successfully lead and develop the contact centre and its colleagues to deliver excellent ~customer service to Hastings Direct customers.

Commercial Analyst - The Commercial Analyst will have responsibility for supporting the delivery of the household risk pricing strategy.

Underwriting Pricing Analyst - To provide data analysis support to enable management & enhancement of the underwriting profitability of the Advantage Private Car products Java Developer - The Java Developer will provide design and development skills to deliver high quality enhancements and maintenance changes to the Internet facing applications and services developed within Hastings Direct

Are you: • Self motivated?

• Adaptable?

• Dedicated to delivering great customer service?

• Flexible to working 37.5 hours per week within the hours below?

Mon – Fri 8am to 9pm, Sat 9am to 5.30pm & Sun 10am to 5pm.

To learn more about each of the above vacancies please contact us:

recruitmentteam@hastingsdirect.com

01424 735735 ext 8924.

2013 and 2014 Car Insurance Provider of the Year, Consumer Moneyfacts Awards 2013 Insurance Times Awards, Personal Lines Broker of the Year 2013 UK Broker Awards, Personal Lines Broker of the Year.

WOMEN IN BUSINESS GLASS CEILING OR STICKY FLOOR?

by Maarten Hoffmann – Features Editor

“I look forward to the day when it will be unnecessary to discuss the role of women in business.”

Karren Brady CBE The quote above would seem to echo the sentiments of most women that l have spoken to. So why are we still discussing it? It would appear we are discussing it because it is still an issue with many women in business and, although nothing near as bad as it once was, it is still a bone of contention.

So much so that the press is full of related stories, such as the latest campaign to ban the word ‘bossy’ whenever used in a female context. This ‘Ban Bossy’ campaign was launched by Facebook’s chief operating officer and, arguably, global bossyboots-inchief, Sheryl Sandberg, whose book on the subject of how women can get ahead in business sold more than a million copies.

To this end she has launched the banbossy. com website and has encouraged a slew of famous women to put their names to it, including Beyonce, Victoria Beckham and Condoleezza Rice.

“When a man gives his opinion, he’s a man.

When a woman gives her opinion, she’s a bitch.”

But what’s wrong with being bossy?

Margaret Thatcher was certainly bossy and revelled in the title and, love her or hate her, it cannot be denied that she got things done; former US Secretary of State Madeleine Albright was described by those closest to her as ‘very bright, very bossy’ and l would think that Boudicca was a tad headstrong and I would not be surprised if Cleopatra had a bit of an attitude.

Isn’t it odd that when men order people around they are called ‘leaders’ but when women do the same thing, they are called ‘bossy’? To me this is ridiculous and moves the argument about equality backwards not forwards. As long as women are concerned with such trivial matters as name calling, their efforts will be forever thwarted.

Television historian Bettany Hughes recently commented that the last time women had equality was in 3,500BC in Mesopotamia, although we are unable to discuss that with anyone of the day. It’s less than 100 years since women got the vote and only 44 years since the Equal Pay Act, yet only four out of 100 top companies are run by women and only 23% of our MP’s are women.

Bette Davis

“The reason there are so few female politicians is that it is too much trouble to put makeup on two faces.”

Maureen Murphy Now we have another survey stating that scientists have concluded that when it comes to power, women are very bad at sharing.

Their tests purport to show that women are less willing to co-operate with each other than men and that same-sex rivalry can have very unhappy outcomes.

I wonder if these ‘scientists’ were men and what a shame they have nothing better to do.

Boudicca

- ABM|Opinion -

April/May 2014 │11

I even read a critique regarding the mysterious loss of Malaysian flight MH370 by a woman who was furious that not one of the air accident investigators interviewed on the TV was female.

This is getting ridiculous!

There used to be a pay gap but reports only last week show that the gap has gone.

Twenty years ago, a woman in her thirties with a full time job, earned 11% less on average than a man. Today that gap is just 1%. For those aged 22 to 29, women actually earn 0.3% more than men. The fact that the pay gap has all but disappeared is because more women are going to university and their aspirations have risen, so says the Department of Culture, Media & Sport – run by a woman by the way. In fact, of the five Ministers in that department, four are women.

“Remember, Ginger Rogers did everything Fred Astaire did, but backwards and in high heels” Faith Whittlesley So, in an attempt to find out the truth, l ran my own survey of Sussex-based female business leaders. I asked a series of questions in an attempt to get beneath the tabloid headlines and find out what real women, at the top of their firms, had to say. Now, it must be said that as a man, l embarked on this little survey with some trepidation, aware that l could stick my size nine’s right in it and cause outrage with sexist questions, but fortune favours the brave and my first question duly received a blast.

I asked Rosemary French, CEO of the Gatwick Diamond Initiative, if the increasing success of women in the workplace, threatened men’s role in society? Rosemary’s response: “For goodness sake, that question could only have come from a man”. But that is surely the point – it was a man asking because l believe that some men do feel this, and that might be part of the problem.

Rosemary went on to say “What exactly is a man’s role if it is not the same as a woman’s”. She then apologised for her initial response as it was, in itself, sexist and l think that proves the entire point – we can all be hurt by sexism if we are sensitive to sexism. I am not, so it made me laugh and endeared me to her whereby another might take offence.

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April/May 2014

The same question was put to Fiona Marley, MD of File Express who responded with: “Only if they want it to! It’s a little like Mandela’s philosophy, in that he did not want the blacks to rule the whites but for us all to be equal”. It is worth pointing out here that all of Africa is now, rightly, ruled by blacks and yet, there is still rampant inequality, with those at the top still greedily hoarding as much as possible for themselves and treating anyone at a lesser level of society with total disdain. Human nature, not colour, has always won the day. Would it be different if women ruled the world? Would it matter what colour she was?

Equality across all spheres of society is, in my opinion, impossible. But when we talk about sexual equality we are faced with a few colossal barriers. Sex, motherhood and men.

Sex - because that is our basic difference and men are hard-wired into thinking about sleeping with any attractive woman that crosses their path and therefore, often see them as conquests rather than equals.

Motherhood - because that can only be achieved by women and is a life-changing, hugely inconvenient factor to building up a long term successful career. And men?

Well, many corporate men are egotistical and possessive of their position and many would sell their mother to get ahead on the corporate ladder. And that’s with other men!

When dealing with women, I’m afraid there is still the feeling, at the very top of mainly

Fiona Marley, MD of File Express American corporations it has to be said, that women should take notes and make the tea or be at home looking after the next generation of sexist men.

“Young wives are the leading asset of corporate power.They want the suburbs, a house, a settled life and responsibility.They want society to see that they have sold themselves for something of value.”

Ralph Nader I believe upbringing to be a major contributor. Men’s reactions to women are totally dependent on their parents. A father who has little respect for women will breed it into his sons, and insecurity in his daughters, and a mother who is not strong enough to stand up for herself can do them all lasting harm. Of course, that man will be married to that woman, as he would have no chance of marrying a strong woman as she would stuff his head down the loo and wouldn’t have looked at him twice in the first place! A perfect storm then.

I have three sisters, three daughters, four sisters-in-law, two ex-wives, two mother-inlaws, an absent father and of course, a mother, and went to a school that comprised 96% girls. I am now, and always have been, totally hard-wired to see women as 100% equal and, in many cases, far more competent, empathetic and able than their male equivalent. I believe that the world is coming round to this view but we must shuffle the current generation off their mortal coil before we will see true change.

Rosemary French, CEO of the Gatwick Diamond Initiative

“Women who seek to be equal with men lack ambition”.

Timothy Leary

- ABM|Opinion -

Just look where we are in the 100 years since women got the vote: Angela Merkel (German Chancellor),

Rosalind Brewer (CEO, Wal-Mart),

Dilma Rousseff (President, Brazil),

Joyce Banda (President, Malawi),

Christine Lagarde (MD, IMF), Janet Napolitano (Chief, Homeland Security),

Angela Ahrendts (CEO, Burberry), Sri Mulyani Indrawati (CEO, World Bank),

Indra Nooyi (CEO, Pepsi),

Arianna Huffington (CEO, Post Media Group),

Geun-hye Park (President, South Korea),

Bonnie Hammer (Chairman, NBC),

Virginia Rometty (CEO, IBM),

Gail Kelly (CEO, Westpac Banking),

Ursula Burns (CEO, Xerox),

Amy Hood (CFO, Microsoft),

Meg Whitman (CEO, Hewlett Packard),

Mary Jo White (Chair, SEC),

Maria Foster (CEO, Petrobras),

Sue Nagle (President, HBO),

Susan Wojcicki (VP, Google),

Mary Callahan Erdoes (CEO, JP Morgan),

Christina F de Kirchner (President, Argentina),

Judith Rodin (President, Rockefeller Foundation),

Yingluck Shinawatra (PM, Thailand),

Melanie Healy (CEO, Procter & Gamble),

Marissa Mayer (CEO, Yahoo),

Anne Sweeney (President, Walt Disney),

Margaret Chan (CEO, WHO),

Deirdre Connelly (President, GlaxoSmithKline),

Mary Barra (VP, General Motors),

Amy Schulman (CEO, Pfizer),

Amy Pascal (Chair, Sony),

Janet Yellen (CEO, US Federal Reserve)

Drew Gilpin Faust (President, Harvard University),

Janet Yellen is, arguably, one of the most powerful people in the world - and l could go on and on. The New Year’s honours list also recognised several women for services to business such as Dame Alison Carnwath (Chair, Land Securities), Karren Brady CBE (Chair, West Ham Football Club), Katherine Garrett-Cox CBE (CEO, Alliance Trust), Jayne-Anne Gadhia CBE (CEO, Virgin Money).

Interestingly, whilst typing this, l have just realised that l made a subconscious effort to use the word Chair instead of Chairman – l fear l am becoming a feminist!

“A woman is like a tea bag. It’s only when she is in really hot water that you realise how strong she is.”

Eleanor Roosevelt Women are succeeding at an ever faster rate and although not fast enough for some, one cannot deny the pace of change. The problem we will face is the role of men. I fear that some men will adapt to change far slower than women, due in part of course, to the fact that men don’t want to share the power for fear of being revealed as not quite as good as they think they are and women have a tendency to call them out on these things. Being outshone by a man is one thing but by a woman? This tends to bring out the Neanderthal is some members of my gender.

But having said that, we must look hard at the changing role of men in business. There is still a stigma attached to a man who stays at home with the kids whilst his wife goes out to work and yet research shows that there has been an increase of 23% in stay-at-home Dads. This stigmatism might only be in the mind of that man, but it is there and valid. We cannot change male roles so quickly without dealing with the cultural problems that it throws up.

After male bias, the one huge problem that women have to resolve is motherhood. Not just the obvious daily drama of organisation to be in the office by 8am, but the emotional tug of war that so often raises its head. In many women, it changes their focus and presents a dichotomy – would l rather be in the office for 10 hours a day, putting out fires, sitting on airplanes and making money or at home with my children – women are indeed nurturers and the drive is primeval and not easily ignored. And that is the one immovable object in the whole debate – men cannot have babies and unless a particular piece of research passed me by, will not be able to in the foreseeable future.

- ABM|Opinion -

April/May 2014 │13

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As Rosemary French stated: “I sacrificed children for my career – it was a deliberate act – but if l was in that position today, l would definitely have children. I became the CEO of a business with over 100 employees at the age of 34, which was rather bad timing to start a family”.

The only way around this is for it to be totally expected, and enshrined in law, that a women in the work place will, if and when she chooses, be taking 3/5 years out after birth and will totally expect the position to be kept open, to suffer no bias due to her absence and should face no hurdles to her continued advance within the company. All companies over a certain size must make space for a crèche within the office and agree to workable flexi hours.

Fantasy? Perhaps, but companies have to do a lot more to achieve the best man/woman for the job. Rosemary went on: “Maternity laws mean that businesses do not know whether the woman is coming back to work until the very last minute. This leaves small businesses in particular unable to plan ahead. Why not change the law to enable the employer to ascertain whether they are coming back, say three months before the end of their maternity pay period. My second problem is that child care costs are horrific. All governments to date have done little to alleviate the cost pressure of child care. We have a situation where women go back to work and yet actually bring home no extra money because of the cost of child care. Let’s look at what the Scandinavians are doing. I would pay grandparents to look after their grandchildren instead of abusing their kindness. This is the most sexist part of our legislation”.

In 2014, what we see is an ever increasing number of women running their own businesses, where they make the rules and set the standards. Of the business leaders l spoke to, it was those running their own firms that most likely mentioned that they did not feel they suffered any sexism at work, whereby the employed women mostly stated that they had in the past, but suffered very little these days. Karen Silk, MD of Capital International Staffing said: “I have never been aware of sexism in my working life, which is somewhat surprising as l entered the workplace in the mid 70’s.

I think this is as a result of my own attitude and l would not tolerate any sort of sexism towards me or anyone else.”

Further evidence of female advancement are the recent comments by Baroness Deech of the Law Commission, stating that she fully

intends to bring in a pre-nup law specifically aimed at protecting women’s earnings from predatory men. Good news of course, but l am duty bound to comment that whilst men have been the top earners for generations and suffered the pain of their wives being awarded half their earnings after divorce, it is only now that women are in the same position, that a female Law Lord feels the need to pass a law to ensure men cannot do the same thing. We must ensure that women stop at equality and not cross the line into discrimination against men.

All female networking groups are another bone of contention. If l created an all male group and specifically excluded women, l would be hauled into court in a heartbeat and pelted with rotten fruit. Women cannot complain about exclusion and then start excluding men.

“Men are from Earth, women are from Earth.

Deal with it.”

George Carlin

“Nobody will ever win the Battle of the Sexes.

There’s just too much fraternizing with the enemy.”

Henry Kissinger I then asked for an opinion on whether men or women make better bosses. Amanda Menahem, HR Director of Hastings Direct Insurance, after chiding me for asking a sexist question said: “There is a lot of research to show that women consistently outperform men within education, so clearly if what makes a good boss was purely down to academic achievement, it would be women!

But the answer is down to the specifics of the situation, one’s own personal characteristics, what one has learned and how that fits the context – regardless of gender.”

“I myself have never been able to find out precisely what feminism is: I only know that people call me a feminist whenever I express sentiments that differentiate me from a doormat.”

Rebecca West The one thing that united every woman l spoke to is the subject of positive discrimination. Positive discrimination and all-woman shortlists and the like are abhorrent – they set the feminist cause back decades. The best person for the job must be the mantra. There can be no favouritism due to gender, race, creed, colour or sexual orientation. And yet, Lloyds Bank have just announced that they pledge to ensure that 40% of their top jobs go to women, meaning that of the 5000 vacancies over the next six years, 2000 must go to women. But what if there is not a suitable female candidate?

Does this mean they will take a sub-standard woman for the role due to this public announcement just to meet this ludicrous ‘gender quota’?

Surely the point is to eradicate discrimination, not to just develop new strains of the disease.

- ABM|Opinion -

Menahem, HR Director of Hastings Direct Insurance

And what about nature vs nurture? Are men born sexist or is it bred into them? From my personal experience, l would say it is bred into them by parents, present day culture and television, but l put the question to Fiona Marley: “Yes, l think there is definitely a difference and that is why a workplace is best suited to a mix of genders. So for me, it is nature but nurture does play a role”.

Rosemary French stated:” Of course there are inherent differences between men and women. In the board room loo, l discuss Strictly with my female colleagues while l know that the men’s loo is full of talk about Barcelona FC or Rooney! We are different.

That is the beauty of having a good mix of males and females in the workplace and especially at the top. Each brings different skills and together these skills amount to much more than the separate parts”.

I feel that women are so very nearly there with full equality, which is due in no small part to their uncompromising efforts and those of enlightened men, with of course a few glaring exceptions, but the one immovable barrier to total equality in the work place will always be motherhood. As long as men rule the larger companies, this will always be a problem but with women

April/May 2014 │15

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rising to the top all over the world, this will change and facilities will be made available for women to bear the next generation AND hold down their coveted jobs. Rosemary French admitted that she sacrificed having children for her career but what would of happened to her career if she’d of had children. I would suggest that it would have stalled whilst she was caring for her offsping whilst her male contemporaries proceeded at pace up the ladder. This is blatantly unfair and must change if women are to be truly equal in business.

“The day will come when men will recognize woman as his peer, not only at the fireside, but in councils of the nation. Then, and not until then, will there be the perfect comradeship, the ideal union between the sexes that shall result in the highest development of the race.”

Let’s face it, without women it is the end of the human race and without women in business, the work place will be a miserable and uninspiring place to be. We need each other.

Susan B. Anthony

History is Herstory too.

My final question went to God, but she was busy and requested l call back later!

VENUS WAS HER NAME Nominations for the NatWest Venus Awards 2014 are now open The NatWest Venus Awards recognise women in the Business Community and are now open for nominations for Sussex until 16th May 2014.

Venus Awards were set up in 2009 by Tara Howard, to recognise the hard work, effor t and skill that it can take women to successfully juggle business with other commitments. Up to four teen categories will be judged by sponsors, with three categories being voted for by the general public.

Finalists are invited to attend the prestigious Awards Ceremony at the Grand Hotel, Brighton in September 2014, where the winners are announced during an exciting and fun event, which is fast becoming the business social event of the year.

The Venus Awards have gone from strength to strength in the past five years, launching in various regions across the country.

Talking about the phenomenal growth of the Awards, Tara Howard the Founder, herself a business woman and mother of four, commented; “It really is inspiring to see how much support and enthusiasm there is for the awards and what a difference they can make. I’ve even had past winners confess to me that the awards have changed their lives – that’s really powerful, and drives me forward to expand and launch the awards in new regions to recognise more deserving women.”

Using the simple online nomination process, you are encouraged to nominate a friend, relative or work colleague so, to nominate your favourite working woman in Brighton or to see the categories available, please visit http://Brighton.venusawards.co.uk/nominate

- ABM|Opinion -

April/May 2014 │17

Sussex-based Skerritts received the coveted Citywire award for a record fourth successive year from comedian Ed Byrne at the awards ceremony at the Park Plaza in Westminster.

Women in Business Women have changed the landscape of the business world in the last decade or two. Years ago, films such as ‘A Woman of Substance’ inspired my female peers (and me) to be the best we could be. With the elements stacked against them, the stories portrayed women who would hold their own, win and succeed in business. Today, we are celebrating what has been achieved since those earlier movies. Of course, some would say “we are not there yet’; but neverthe-less I feel there is much for the female fraternity to celebrate.

This success is not just about women making it on their own. Many men have helped women reach such heights - acting as advocates and mentors, in the past and now – not only ensuring the best person gets the job but also nurturing great opportunities for growth and development for women. I am most grateful for all the support I have had over the years.

Sarah Hopwood

Business Consultant, International Speaker, TV Presenter, Voiceover Artist & Cruise Lecturer www.sarahhopwood.com

“With another man I can call and say ‘stop mucking about and get on with it’ – I have to tread more carefully with a woman.”

“Women don’t like working for other women.”

“It’s all about attitude – it’s the same for men and women, respect is earned.”

I have cer tainly not been aware of any discrimination, experiencing equally good relationships with men and women. In fact, because of my past careers in nursing and teaching, I found myself avoiding allwomen meetings, enjoying the move away from an exclusively female environment.

I eventually realised my shortsightedness, making the changes needed, enabling me to enjoy the different ambiance of femaledominated meetings.

Reports from the local chambers of commerce show there are more women than men in the south setting up in business, not just in complementary therapies, catering and virtual PA’s but also startups such as recruitment, accountancy and law. There are more females heading up departments; I also know there are more female partners in professional service firms than there were some 30 years ago. So the opportunity to discuss a deal with a female decision-maker is growing all the time.

I am writing this during a speaking contract on a cruise-liner, so I thought I would ask retired professionals what they think. Some of the comments are interesting..

“It is great to see more women in senior positions.”

We all know working from home has transformed the business world. It has opened up opportunities for men and women to in some way ‘have the best of both worlds’ – to reduce stress and get

- Business|Ethics -

things done. The set back can, at times, be more about knowing how or when to switch off; supporting the all-important Life Balance.

Personally, I have no evidence to say there is a difference between men and women in delivering best practice – so believe their business ethics are the same.

The last Absolute Business Round Table discussed Women in Business, revealing very encouraging results from around the table The straw-poll showed a growing number of women successfully gaining promotion although it was acknowledged there are variances in different industries.

We also talked about women-only networks.

I have to say my lingering post-discussion thought was, could men get away with as many networks only for men? Personally I am not sure…

April/May 2014 │19

20│ April/May 2014

- Business|Interview -

BUSINESS RADY MEANS

In 2014, Karren Brady was listed as one of the top 500 most influential and inspirational people in Britain. Throw in a CBE in the New Year Honours list for services to entrepreneurship and women in business, and it’s clear that the 44-yearold has gone from strength to strength since launching herself into the corporate world at the tender age of 18. Words by CAMILLA DAVIES

‘People are scared of change, whereas i like it. I like the challenge of it.’

Current Vice Chairman of West Ham United Football Club, Karren Brady infiltrated the football world some 20 years ago. She first hit the radar as the formidable Managing Director of Birmingham City Football Club, taking over the ailing West Midlands outfit at just 23 years of age. And the businesswoman, who charmed a team of rowdy footballers as well as manager Barry Fry, coaxed the club out of administration, recording a financial trading profit within the year.

Despite contention about a woman’s perceived place in the football hierarchy, Brady excelled in the male dominated sports world.

No wonder she was voted Business Woman of the Year in 2007 following on from being voted Cosmopolitan Woman of the Year in 2006 in the category of Women Who Have Changed the World. It was therefore with great pleasure that she was chosen to captain the team on BBC’s The Apprentice for Comic Relief, where she led her team of Trinny Woodall, Jo Brand, Cheryl Cole and Maureen Lipman to a resounding victory over the allmale team of Alistair Campbell, Piers Morgan, Rupert Everett, Danny Baker and Ross Kemp and raised over £1 million in the process.

Before joining Birmingham City, her career had begun as a graduate trainee with advertising agency Saatchi & Saatchi. It didn’t take long for her to move on, applying an exacting touch over a wealth of sales and marketing

- Business|interview -

projects at LBC, the London Broadcasting Company. Making more in commission than the rest of the sales team together, Brady rerouted to Sports Newspaper Ltd and just five years after leaving school, she had landed the Managing Director role at Birmingham City Football Club.

Brady went on to float the Blues on the stock market, making her the youngest Managing Director of a PLC in the UK and the business was valued at £82 million, when she sold it in October 2009. Not bad at all for a football club that only four years previously was in administration.

She smashed the glass ceiling in the man’s world of football and has continued to rocket sky high ever since. With positions on multiple boards and the kudos of having authored four best-selling books, the mother-of-two remains a figure of authority.

Yet this self-made millionaire, a powerful voice in several of the UK’s biggest multinationals, and responsible for securing seven and eight figure profit margins, started at the bottom too. Applying for a supermarket checkout job, Waitrose bosses found 16-year-old Brady too ‘glamorous’ for the role.

“To this day, one of the most preposterous things I’ve ever heard,” Brady begins. “I was 16 and wanted some extra money so I thought

April/May 2014

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‘Considering her contributions to multinationals such as Arcadia and Mothercare, the upmarket supermarket has cost themselves not only a shelf stacker but the perfect investor, director and brand ambassador.’ it’d be the perfect place for a Saturday job. But they turned me down on the basis that I was too glamorous. I mean, come on, I don’t know how that was possible? I was a teenager with nothing, no fancy clothes or jewellery. I don’t know what their problem was.”

As such, the supermarket chain remains one brand she just won’t touch.

“I was highly embarrassed and I still have a slightly resentful feeling towards them. And I haven’t been in a Waitrose since, nor do I have any desire to ever go in one again. I’ll never forget that. It was the most ludicrous thing I’d ever heard.”

Considering her contributions to multinationals such as Arcadia and Mothercare, the upmarket supermarket has cost themselves not only a

shelf stacker but the perfect investor, director and brand ambassador.

“Well you might say that,” she laughs, “but I think I was always destined to move around a bit before settling on one role. That’s certainly the way it panned out and I think that’s an important path to take. Anyone young and into business should look to explore as many different aspects of what they do. It’s great to get that out the way early and I never regard any job or task as a waste of time – it’s all character-building stuff, and sometimes even the most mundane challenges teach us things we weren’t expecting.”

That Waitrose glitch at the base of the career ladder certainly hasn’t slowed Karren Brady’s ascent up the corporate rungs. Familiar on our television screens as Lord Sugar’s right-hand woman in his quest to find a business partner on The Apprentice, her supermarket rejection may have phased her, but the Amstrad boss knee-knocking catchphrase, ‘you’re fired’, does not.

“I love the show and I’ve learnt that Lord Sugar is really quite a soft, loveable man. He can come across as fearsome, and he doesn’t suffer fools gladly but he has a wicked sense of humour and is great fun to be around, as is Nick Hewer, my other partner in crime.”

Brady admits that, given the chance, she would have leapt at the chance to have been a contestant on the show. “One hundred per cent, without a doubt,” she beams. “I would have relished the challenge.

22│ April/May 2014

- Business|Interview -

“I did do Comic Relief does The Apprentice and won by a pretty decent margin, so yes, if the oppor tunity had come up, I’d definitely have gone for it.”

Having her first child, Sophia, at 27, Brady famously took only three days off before returning to work. She’d encourage her children to take part in The Young Apprentice – though recognises the limitations of nepotism.

‘Football is what we do on a Saturday.

But like any other business we have marketing, sales, retail, media and an operations arm.’

“Yes, I think I would, it’d be great for them.

It’s good for giving them an idea of how the real world works. I’d love them to go on, although it’s probably not going to happen with me on the show.”

As well as encouraging young people to get involved in the business-based TV programme, Brady is known for advocating the cause of women within business –

‘Famously, when one of her players quipped, “I can see your tits in that shirt,” she came back with “Don’t worry, when I sell you to Crewe, you won’t be able to see them from there,” – and sell him she did.’ attitude that I wasn’t as good at the job, simply because of my gender.

“Happily though, there’s been a slow but definite transitional period over the years.

It’s a completely different era now and women are respected and celebrated in work and rightly so.” though, happily, sexism is not an immediate issue in Brady’s current roles.

“Honestly, I feel there’s very little sexism across the business sector these days,” she tells us. “I certainly don’t come across it myself and I hear precious few examples of it happening to other women.”

‘The people who inspire me the most rise up against the odds.’

That’s not to say it was this way when she star ted in the football industry. Famously, when one of her players quipped, “I can see your tits in that shir t,” she came back with “Don’t worry, when I sell you to Crewe, you won’t be able to see them from there,” – and sell him she did.

“I’ll admit, coming into Birmingham, it was a completely different story than it is today,” she continues. “The glass ceiling was very much enforced at that point and I faced a number of pretty substantial obstacles – and it was just because I was a woman. I’m not going to elaborate on certain confrontations because none were keenly memorable or left a lasting impression but there was that

If this is the case across the board, Brady’s influence has undoubtedly played a par t. She has built a reputation based on diversity and breaking game barriers in the patriarchal spor ting world. Backed by suppor ters as varied as Cosmopolitan Magazine and the governmental Women and Work programme, Brady calls upon her fellow female professionals to continue to help women make their way in the business world. Advocating a female suppor t network, Brady seeks to identify talented women in business and suppor t them in their journey to the boardroom.

“Personally, if I’m dealing with a male counterpar t, I don’t feel like there’s any difference in exchange or relationship because I’m a woman and he’s a man. I fully believe those dark days are over. There might be remnants that exist but they’re in nothing more than comic stereotypes - it’s such an archaic notion.”

And that view of sanity and sense is reflected elsewhere in her business principles – indeed, even when it comes to running West Ham United Football Club, she doesn’t believe the East London outfit operates any differently to any other enterprise. Appointed VC of the club in 2010, Brady argues that most big brands fulfil a similar business model.

“Football is what we do on a Saturday,” she says. “But like any other business we have marketing, we have sales, we have retail, we have a media and an operations arm. We have a development business and an online business; those are all the things that a football club builds on its foundations in order to drive the revenue that means it can compete on

- Business|Inteview -

a Saturday, so it’s a big operation. Yes, there are rules in football that buck typical business mechanics and processes but there are 790 full and part-time staff at West Ham also working incredibly hard to deliver success for the football club, so no-one can tell us this isn’t an important thing.”

The difference, for Brady, lies in the production process.

“People will disagree, but between this and a ‘normal’ company, I don’t see a massive difference. I sit on the boards of Mothercare and Arcadia and I’ve done work with Channel 4 and various others and most companies are very similar in their structure. Where a football club differs to virtually any other business, is that we don’t manufacture anything - we don’t produce anything really. All of our assets are people. It’s getting the best out of people, bringing together footballers with the supporters, mixing that with finance, commerce and sponsorship.That’s all a part of running a football club.”

If people are an asset, then Brady has certainly proved her worth as an individual in the business world – not that she has any plans to get out of the game just yet.

“Doubtful! I love what I do and I want to build and expand down the line. The only thing I crave is more time for holidays with my husband – former Birmingham player Paul Peschisolido – and family. That’ll be part of my personal five-year initiative.

“But I can’t ever imagine not working,” she confesses. “I’ve worked all my life; what would I do with myself? Take up bridge? Knitting?

Naturally, each to their own, but I think I’d go mad. I’ll work until my last breath… and find some way to go on even after that!”

April/May 2014

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INTERNATIONAL AMBITIONS The opportunities for international trade are growing and UK companies are increasingly taking advantage In the first edition of the NatWest Funding Guide I talked in general terms about the broad range of funding options available to SMEs. As the economic recovery strengthens there is a growing recognition of the importance of International trade, especially exports, as we seek to rebalance the economy and build sustainable growth.

The British Chambers of Commerce Annual Conference held on 1st April made much of this, so it seems right to focus on the financing of International Trade in more depth.

NatWest research shows that twothirds of UK businesses feel now is a good time to further develop their overseas trading activity. With the domestic market flat for many businesses, international trade has perhaps never been as important to the growth of UK companies and the country as a whole.

Although the two largest markets for UK exporters remain the Eurozone and the US, constrained growth in both of these regions has encouraged UK businesses to explore new territories, with the focus increasingly on faster-growing Asia, the Middle East, Eastern Europe and Africa.

24│ April/May 2014

Choosing a bank with global reach provides key advantages.

Their local presence can provide on-the-ground exper ts with a detailed understanding of both the local market and your individual needs, which can help you develop connections and overcome barriers in new markets.

However, for importers and exporters, the level of risk involved in an overseas transaction fluctuates depending on what payment method is used. For example, as an importer, paying cash in advance is high risk – you have paid but you may never get the goods you ordered but, as an exporter, being paid in advance removes nearly all risk from the transaction.

‘Developments in technology and payment standardisation have helped to drive greater efficiencies, while also strengthening visibility and control.’

Developments in technology and payment standardisation have helped to drive greater efficiencies, while also strengthening visibility and control.

For importers:

If your business involves paying for goods from overseas to fulfil your client orders before your clients pay you, you could find your cash flow stretched. Import loans enable your business to keep functioning normally while you fulfil your order, ship the goods to your client and await their payment.

- Finance|funding -

Over the coming issues, Robert Clare, NatWest Regional Director for Sussex and Surrey & South West London, will present a comprehensive guide to sourcing funds for businesses of all sizes.

The natwest FUNDING GUIDE

This short-term loan is then repaid once the payment is eventually received.

For exporters:

Pre-export finance loans are most beneficial, being tailored specifically to the length of your transaction. When your customer pays you, the loan is repaid. Sometimes your customers may ask for extra time to pay you once you’ve shipped your goods to them. In fact, you may secure more contracts if you can offer your clients this payment flexibility. Post-export finance solutions can provide the cash flow you need to continue running your business, while your customer benefits from a deferred payment period.

UK Export Finance has a range of schemes to help exporters who are having difficulty obtaining funding, while UK Trade & Investment also offers help on all aspects of exporting.

From the Letter of Credit Guarantee Scheme to the Bonds Support Scheme which sees UK Export Finance provide your bank with a guarantee up to 80% for Advanced Payment Bonds, to the Export Working Capital Scheme which facilitates exporters’ access to working capital finance on specific contracts by sharing risks with the bank via a guarantee.

‘Pre-export finance loans are most beneficial, being tailored specifically to the length of your transaction.’

Therefore, for UK companies looking to begin or increase their international trade, it is crucial to choose a global bank which can help you identify

- Finance|funding -

the best markets and how to approach them, as well as finding the right partners, mitigating risk and maximizing efficiency throughout the trading process to provide your company with the best chance of success.

There is of course other help and support available. For example, Sussex Enterprise, the accredited Chamber of Commerce serving SMEs across Sussex, completes and process more than 6,000 export documents each year.

As before, I hope you find this information helpful and that 2014 continues to be a year of sustainable, balanced growth for businesses across Sussex and beyond.

April/May 2014

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FLYING TRADE GROUP CASE STUDY

Innovative thinking by NatWest specialists helps food importer continue impressive expansion When the Flying Trade Group appointed NatWest as its principal banker in 1996, it employed 60 people. By June 2013, its headcount had reached 600. Despite the tough lending climate, the Bank continues to support the business’ accelerating growth with innovative funding solutions − in this case, a stock loan.

Based in Harwich, Essex, the Flying Trade Group has an annual turnover of around £90 million generated by several separate businesses. They include Flying Trade Ltd, which imports rice, flour and other non-perishable food products from Asia, the Far East, Africa, Eastern Europe and the Caribbean. A second business, Surya Rice Ltd, stores then processes the products for onward sale to a growing network of wholesalers, retailers and large supermarket chains throughout the UK. Despite the sustained economic downturn, the group net profit increased from £2 million in 2008 to £5 million in 2012.

Its growing profits are matched by its growing reputation. The group’s portfolio includes leading names such as Laila, Salaam, Apna, Frooti, Jamaica’s Pride, Island Sun,

Samai and Cawoods. Together, these brands have won the group around 15% of the UK market for ethnic foods and further growth is forecast.

Until recently, NatWest helped to fund the group’s success through a conventional overdraft. In June, however, a NatWest team lead

by Roger Glasel, International Manager, Transaction Services UK and Peter Beer, Relationship Director, worked alongside the client to introduce a stock loan.

Explaining the rationale behind the switch, Roger says: “Buying and importing stock ties up a significant proportion of Flying Trade’s funds.

When the lending climate was more favourable, we were in a position to increase Flying Trade’s overdraft to fund its expansion.

Offering the business a stock loan means that we are still able to

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To date, this international customer has financed rapid growth by purchasing stock using a conventional overdraft.

Offering a stock loan to fund stock purchases enables NatWest to maximise lending in a tough lending environment.

This simple, flexible funding solution enables the customer to reduce pressure on its overdraft to fund further expansion – and grow profits.

To find out more Call 0800 210 0235 Text Relay 18001 0800 210 0235 visit natwest.com/international Lines are open 9am-5pm Monday to Friday (excluding public holidays).

Calls may be recorded.

Security may be required. Product fees may apply. Over 18s only.

ANY PROPERTY USED AS A SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED ON IT.

maximise the amount of debt that we can provide to the business and continue to support its growth.

“Currently, stock loans are relatively rare,” continues Roger.

“But as part of our commitment to supporting UK businesses, we hope to agree more of them in the future. These loans are particularly well suited to businesses involved in international trade where there is a clear, auditable paper trail attached to its imports. Flying Trade fits this definition perfectly.”

Expanding on the advantages of a stock loan versus an overdraft, Peter Beer says: “Inevitably, using an overdraft to fund stock purchases puts pressure on your overdraft. We analysed how much of Flying Trade’s overdraft went towards stock and converted that figure into the stock facility.

This, in turn, will relieve pressure on the overdraft and allow the business to invest that money in

to other areas of its growth. Stock loans also make sound sense from a bank’s perspective. In Flying Trade’s case, the underlying value of the imported stock is relatively high and can be realised relatively easily.”

In the end, Flying Trade agreed a £2.5 million stock loan with NatWest. With the emphasis on maximum simplicity, collections are payable at sight with 100% of each collection debited to the stock loan. The loan period is determined by food type, with terms varying between 90 days for non-rice foodstuffs and 140 days for rice. Significantly, the deal also gives Flying Trade additional control over its finances by allowing it to drawdown payments in US dollars, sterling or euros.

Commenting on the value that Peter’s team brings to his business, Suki Dulai, Flying

Trade’s Managing Director, explains: “We wanted a financial solution that was simple and flexible – and that is exactly what NatWest gave us. The Flying Trade Group is a complex organisation and through the years we have approached NatWest with some fairly complex proposals. But there isn’t a deal that they have not done with us.

In fact, we have grown up with them.”

As Roger concludes: “Offering Flying Trade the stock loan option is a clear indication of NatWest’s appetite for supporting successful SMEs despite the tough lending environment. It is about offering our customers innovative choices at a fair price to achieve a winwin solution for everyone involved in their business. Deals like these are very rewarding all round.”

To find out more Call 0800 210 0235 Text Relay 18001 0800 210 0235 or visit natwest.com/international Lines are open 9am-5pm Monday to Friday (excluding public holidays). Calls may be recorded.

Security may be required. Product fees may apply. Over 18s only.

ANY PROPERTY USED AS A SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED ON IT.

National Westminster Bank Plc. Registered in England No. 929027. Registered Office: 135 Bishopsgate, London EC2M 3UR.

90340295 0813

HEATHROW vs GATWICK The Battle lines are drawn The decision on which airport is expanded is of enormous commercial and economic importance to the two areas involved and each are pitching hard to ensure they are granted the right.

A new runway could be built more cheaply and sooner if Gatwick was chosen for expansion over Heathrow, the West Sussex airport’s boss has said.

Stewart Wingate, chief executive of London Gatwick, said a second runway could be built at Gatwick for £7 billion compared to an estimated £17 billion to build a third runway at Heathrow, Britain’s busiest airport.

Lawmakers and business leaders agree that Britain needs new runways to help it remain economically competitive but building more capacity around densely populated London is unpopular with voters and a decision on expansion repeatedly pushed back.

“If chosen - and with swift decision making - we are committing today to start work on site in the next parliament,” Wingate said at an event in London in April. Gatwick’s new runway could be operational by 2025, the group added, a year earlier than Heathrow’s plan. Although with the Heathrow decision having to go to a public enquiry, that plan could be on hold for years as the 28│

April/May 2014

protesters will no doubt go all the way to the High Court, and then European Court, in their attempt to halt it. The protest is led by MP for Richmond, Zac Goldsmith, who has threatened to resign and force a bi-election if Heathrow goes ahead and let us not forget, that David Cameron promised in an election pledge that he would not extend Heathrow. Gatwick is due to submit further research to the Airports Commission in May and is working with architect Sir Terry Farrell, who released more images of the planned two-runway airport.

Sir Terry said: “Expansion at Gatwick could do for south London and the wider region what the Olympics did for east London and give a huge boost in terms of jobs, housing and regeneration.”

Owners of more than 1,000 homes in Kent, Sussex and Surrey are eligible to claim noise insulation grants, Gatwick Airport has announced. The grants of up to £3,000 are now available to more than 40% more home and will go towards double glazing as well as loft insulation.

‘Expansion at Gatwick could do for south London and the wider region what the Olympics did for east London and give a huge boost in terms of jobs, housing and regeneration.’

The boundary for the scheme has been extended by about 10 miles (15km) to the east and west of the airport. Noise level boundaries have also been lowered for those qualifying.

- Airport|Expansion -

Gatwick Airpor t is owned by a group of international investment funds ultimately controlled by funds managed by a unit of Global Infrastructure Par tners (GIP). GIP retains a 42 percent controlling stake in Gatwick.

Other shareholders are the Abu Dhabi Investment Authority, National Pension Service of Korea, California Public Employees’ Retirement System and the Future Fund of Australia.

But Heathrow said airlines had been unable to sustain long-haul flights at Gatwick and claimed 21 services had been withdrawn from there since 2008. Airline Garuda Indonesia’s decision to use Amsterdam Schiphol instead of Gatwick as its European base for a service to Jakar ta showed only a hub airpor t hosting many connecting passengers could sustain long-haul routes.

The European boss of US-based Delta Air Lines has called for the expansion of Heathrow over Gatwick airport, saying: “business travellers prefer it.”

Delta’s Perry Cantarutti, who is running the airline’s new transatlantic tie-up with Virgin Atlantic, warned: “Cities that offer two hub airports tend to be a limiter for airlines and for passengers. It’s not a viable alternative.”

He made his comments as Delta began its $360 million (£215 million) Virgin tie-up with an inaugural route to Seattle from Heathrow. Delta has moved routes away from Gatwick as part of its new venture, despite the airport claiming its expansion would provide an economic boost equal to the 2012 Olympics.

But Cantarutti warned London could “get left behind” if the Government fails to come to a decision about expansion. “We’re watching the development of

airports in the Middle East with a keen interest and watchful eye,” he said. “Heathrow’s role for providing flights into London is secure, but as a place to connect customers, there’s some risk.”

He also said that Heathrow’s takeoff and landing fees — which fall for passengers from today — make it “a very expensive airport to operate from”. The Civil Aviation Authority is forcing Heathrow to cut fees by 1.5% per year until 2019, and the airport today said it would accept the decision.

‘and let us not forget, that David Cameron promised in an election pledge that he would not extend Heathrow.’

“The fees and taxes make air travel a very expensive proposition for UK consumers,” said Cantarutti.

“Heathrow’s fees are too high. As we plan our joint business with Virgin, these fees are becoming a more relevant consideration surrounding possible expansion.”

Chief executive Colin Matthews said: “Heathrow doesn’t oppose a second runway at Gatwick which

- Airport|Expansion -

serves predominantly short-haul, low-cost airlines. But new capacity at Gatwick will not provide the hub capacity needed by network airlines to put on new long-haul routes.”

Heathrow has given a star t date of 2020 for work on its £17bn runway because a public inquiry would be needed for the six-year scheme to go ahead.

Heathrow Limited is owned by unlisted Heathrow Airport Holdings which is co-owned by Spanish infrastructure firm Ferrovial and others partners.

A government commission, led by Howard Davies, the former head of the Financial Services Authority, is currently assessing the issue of runway expansion and will make a final proposal on how and where capacity should be extended by the summer of 2015.

April/May 2014 │29

Equity or debt – which is best for you?

Growing a business costs money.

How much depends on how ambitious you are for your business to grow quickly. Rapid acquisition of market share can be expensive and that needs funding.

Unless you have access to a private money pit, that will often come down to a straight choice between venture capital and debt funding – i.e. the bank.

So which would be best for you?

There are arguments for both. Take venture capital first. It’s probably true to say that the VC industry in the UK is often seen more as a necessary evil than as an invaluable source of wealth creation. The industry has had trouble shaking off the image of being little more than asset strippers.

This is not only unfair, it’s also plainly wrong.

Venture capital and private equity companies are much maligned because they are also much misunderstood.

I’ll let Mark Florman, Strategic Adviser and Industry Ambassador at the British Venture Capital Association, put the case for the defence. In a speech last year, when he was the BVCA’s CEO, he made reference to the attacks of a few years back about predatory capitalism. He said: “There was hysteria and misunderstanding. We

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are industrialists who build better businesses rather than alternative financiers. You can paint us as very bad people but we are not.

“Private equity companies grow faster, create new opportunities and are more innovative. We are private owners representing pension funds, insurers, sovereign funds. It is venture capitalists and the banks who can get Britain’s biggest wealth creators, small and medium-sized companies, investing and growing.”

Even though it means giving up equity in return for cash, many entrepreneurs choose venture capital as their preferred funding option because they know it’s more likely to help them grow rapidly.

That is particularly true of those in the technology industry. The BVCA reckons that 40% of VC deals in the US and Europe are done with tech companies. Biotech and healthcare account for around 20%.

That’s largely because these types of businesses are capital hungry from the outset...and need a lot of feeding!

Funding will often be required for R&D and product development even before the customer proposition has been fully established.

On average, for every 10 businesses that Venture Capital Companies back, only one or two will go on to make big bucks.

Three or four will merely break even and the rest will go down the pan.

So although the win ratio may not be high, those that do come in usually pay off handsomely.

Then, once that has been done, clients and market share have to be acquired. With tech companies, this can be rapid. Just look how

- Business|Funding -

quickly companies like Spotify, Hailo and Shazam have garnered a mass market worldwide. On the other hand, it can take a lot longer for them to start generating profits.

That is where VCs really earn their corn. Their’s is a high risk approach.

They may spend years sinking money into a business before they begin to see any return. That’s why they take an equity stake in it. If it does eventually succeed, they stand to make a significant financial gain when it’s floated or sold.

And those large gains are essential because they have to pay for the number of investments that fail. On average, for every 10 businesses they back, only one or two will go on to make big bucks. Three or four will merely break even and the rest will go down the pan. Still, the majority of VCs manage to make more profits than losses so although the win ratio may not be high, those that do come in usually pay off handsomely.

There are, of course, downsides to VC involvement. By giving up an equity share of the business, owners no longer have total freedom to run things the way they want. And, if and when their ship does eventually come in and they float or sell, they have to share the spoils.

On the other hand, while they’re still running the business, they will often benefit from the investor’s managerial

High tech companies have shown that market share can be quickly acquired.

Nik AskAroff CEo, EMC Corporate finance

Eastbourne office 01323 410144 Maidstone office 01622 685734

involvement. There are plenty of early-stage businesses around who regard this as important. Just look at the numbers who are still prepared to try their luck in the Dragons’ Den. For them, getting the managerial support – and the contacts – of one or more Dragon is often just as important as the cash investment, even if it does mean giving up a decent slice of the equity.

For those who want to retain 100% ownership, debt remains the best option. Bankers, by and large, don’t want any involvement in the day-to-day running of the business so the owners are free to pursue their own growth ambitions in the way they choose.

Debt also tends to be cheaper than other forms of finance because it is designed, and therefore priced, for areas of low risk. Against that, bank lending invariably requires covenants around debt servicing and leverage which may be uncomfortable for some.

Of course, debt and venture capital aren’t mutually exclusive. They can quite easily work together. You might,

for example, use VC early on while you are refining the product and establishing a market. But once that has been done and you are able to show that the business, or at least a part of it, is making money and is capable of repaying a loan, debt finance may come into play.

So it’s really horses for courses, and understanding what type of financing will best suit your business at different stages of its development.

If you need any help, we can provide it. Over the last 25 years we have helped SMEs in Sussex and Kent to raise more than £400m of debt and equity finance. And we have excellent contacts within both the banking and PE/VC community as well as a string of private investors looking for the right opportunities.

‘For those who want to retain 100% ownership, debt remains the best option.

Bankers, by and large, don’t want any involvement in the day-to-day running of the business so the owners are free to pursue their own growth ambitions in the way they choose.’

Crawley office 01293 440366 Brighton & Hove office 01273 945984

EMC Corporate Finance Ltd, Rochester House, 48 Rochester Gardens, Hove, BN3 3AW Contact: Nik Askaroff, CEO Tel: 01273 945984 Email: nik.askaroff@emcltd.co.uk Web: www.emcltd.co.uk

- Business|Funding -

April/May 2014 │31

96% 96%* of our clients would recommend our services.

What more would you need to know before giving us a call? *based on 4525 surveys since 2005

Brighton & Hove 01273 329797

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05/02/2014 12:16:52

Business Scene

Premier networking forum, The Platinum Club, held their monthly event in March and celebrated the launch of the first issue of Absolute Business Magazine.

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Held at The Grand Hotel, Brighton

March 23rd 2014

1. Clarence Mitchell (Con. Candidate Brighton Pavilion), Karen Miles (Con. Candidate Patcham) and Lee Wares (Con. Candidate Preston Park)

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2. Darren Crabb (St James’ Place WM), Amanda Menahem (Hastings Direct Insurance) and Ulrich Hoffmann (W&R Winery)

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3. Gemma King (Be Creative), Maarten Hoffmann (The Platinum Club), Kate McCoy (Cloud Nine PR) and Nigel Ilsley (Iron Mountain) 4. Hilary Arundale (Swann Editing) and Kevin Smyth (Burt Brill & Cardens) 5. Keith Jackman (Mercedes-Benz), Gemma King (Be Creative) and Michael Wilkins (Allied Irish Bank)

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6. Miles Ward (Rampage Television) and Maarten Hoffmann (The Platinum Club)

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7. Robbie Vella and Phil Mills (University of Brighton) 8. Tony Rice (Audi), Jane Doswell (Image Matters) and John Kelly (Square One Financial)

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Photos: Rosebery Images

- Business|scene -

April/may 2014

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CAPITAL ALLOWANCE

CHANGES Changes in the capital allowances rules, which come into effect this month, could lead to commercial property owners, whether buying or selling, losing this valuable tax relief forever.

What are capital allowances?

Capital allowances are valuable tax reliefs on expenditure on plant and machinery, including that which forms part of a property (referred to hereafter for convenience as “fixtures”).

Examples include lifts, lighting, sanitary ware, central heating and air conditioning systems.

Allowances are available at different rates depending on the nature of the items to which they are being applied.

Whether the property is held as an investment or is used in their trading business, these allowances can be deducted from the owner’s taxable profits thus reducing their tax bill. The value arising depends upon the business tax rate and the type of property (some properties being more plant-rich than others).

However, the tax savings are generally substantial; typically, in the order of 5-10% (and sometimes as much as 25%) of the expenditure incurred.

Particularly plant-rich properties

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include offices, care homes, pubs, restaurants, hotels and motor dealers.

Many owners have not taken advantage of this relief and are therefore losing out on tax savings estimated to total billions of pounds.

What is the purpose of the new rules?

Where a property containing eligible fixtures is purchased, the capital allowances available in respect of the fixtures, should be available to the buyer. The amount on which allowances are available will depend upon the price paid by the buyer for the property and the value agreed between the seller and the buyer to be apportioned to the fixtures.

Rob Fawcett is a Partner and Head of Property at Bennett Griffin LLP

‘Many owners have not taken advantage of this relief and are therefore losing out on tax savings estimated to total billions of pounds.’

The purpose of the new legislation is simply to ensure that HMRC are not giving allowances more than once for the same fixtures at based on overinflated values.

- Commercial|Property -

What are the new rules?

From this month capital allowances will only be available to a buyer of second hand fixtures if the seller has “pooled” the relevant expenditure for capital allowances purposes in a chargeable period when it owned the property.

What requirements must be met?

There are two principal requirements which must be met as follows: 1. Fixed-value requirement By this requirement part of the price apportioned to the fixtures must be fixed either by: •

The seller and buyer agreeing and entering into an election setting out the value attributed to the fixtures pursuant to section 198 or section 199 of the Capital Allowances Act 2001 at the time of the transaction (or within up to two years after the transaction); or

•

Application for a determination by the First Tier Tax Tribunal within two years of the transaction

If the election is not made (and a direction from the Tax Tribunal not applied for) within the two year period, the buyer will not be able to claim capital allowances on the fixtures acquired on the property purchase.

Subsequent buyers will also be prohibited from obtaining allowances.

If an election is made, the seller will be required to bring the value in the election into account as a disposal value in its capital allowances computation and the buyer should be able to claim allowances on this amount.

In practice, the effect of this requirement is that it is advisable for the parties to enter into an election as part of the transaction process. If the parties have been unable to agree an election at the time of a transaction, it is unlikely they will so do afterwards as there is no incentive for the seller to cooperate (assuming they can be traced) and buyers will want to avoid the cost and uncertainty of a Tribunal application.

2. Pooling requirement The effect of this requirement is that the seller must have pooled its expenditure on fixtures in a chargeable period before the property is sold. Pooling expenditure

means either making a claim for capital allowances, or notifying HMRC of the amount of the qualifying expenditure and adding it to the pool without actually making any claim.

Is the position any different for non-taxpayers and property traders?

There are special rules that enable allowances to be preserved if an intervening owner is not entitled to claim allowances, e.g. because it is a charity, a pension fund or it is holding the property as trading stock e.g. developer.

‘As the effect of failing to comply with the new requirements will result in the buyer and all future owners losing the ability to claim the relief in the future.’

It is impor tant that non-taxpayers pay attention to the capital allowance position and obtain the necessary information when they purchase proper ties as, even though they themselves cannot claim allowances, they can preserve the value of the allowances (and thereby increase the value of the proper ty) for future buyers.

What practical effect will this have on a transaction involving commercial property?

Buyers will need to take a more proactive approach to capital allowances at the time of the transaction and seek to agree an election for a fair apportionment with the seller. Their advisers should ensure that the correct enquiries are made (and followed up) relating to capital allowances to ensure that any election that is entered into is correct and can be relied upon in future.

- Commercial|Property -

Buyers can no longer sit back and rely on getting specialist capital allowances advice after the event. Of course on some transactions buyers may have to take a pragmatic view about the potential worth of capital allowances.

For example, a buyer of a 30 yearold building that has never been refurbished may be more relaxed about the seller failing to provide any information about capital allowances than the buyer of a 3 year-old building.

As the effect of failing to comply with the new requirements will result in the buyer and all future owners losing the ability to claim the relief in the future, it is anticipated that a two-tier market for commercial property will evolve, i.e. with properties with nil allowances being considered less valuable than a similar property with a continuing right to capital allowances.

All commercial property owners should review their portfolio to establish if they have any unclaimed allowances and should contact their accountant or a specialist Capital Allowances advisor for expert advice. The cost of such advice will be dwarfed in comparison to the tax savings that could be claimed and/ or the impact on the value of the property if such advice is adhered to.

April/May 2014 │35

Gatwick Diamond Business Awards 2014 The Winners are announced The winners of the Gatwick Diamond Business Awards were announced in March in front of an audience of 600 of the top business people in the Diamond.

Hosted by Tim Vine and held at the iconic Effingham Park Hotel, the Awards Dinner was the culmination of hundreds of hours of hard work by the sponsors, judges, organisers and the entrants themselves.

“This year was another record year for entries,” said Jeremy Taylor of Gatwick Diamond Business, founder of the Awards. “It was also a record number of attendees, all who came along to reflect on and recognise the quality, diversity and achievement of some outstanding businesses and the people who work in them.”

The winners are:

Business of the Year - Sponsored by NatWest Commercial Banking

Business Person of the Year – sponsored by Deloitte LLP

The Award for Corporate Responsibility- Sponsored by ESHCon Ltd

Mayo Wynne Baxter

International Business of the Year – Sponsored by Gatwick Diamond Initiative, Rainbo Supplies & Services Ltd

The Award for Customer Delight – Sponsored by Storm Creative

The Award for Place to Meet for Business – Sponsored by EasyJet

Roger Crow, Cubic Transportation Systems Ltd

Checkatrade.com

Thomas Eggar LLP

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April/May 2014

Alexander House Hotel & Utopia Spa

- Diamond -

The Award for Developing People for Business Success – Sponsored

by Central Sussex College, International Logistics Group (ILG)

The Award for Innovation and Technology – Sponsored by Rawlison Butler LLP, Johnston Sweepers Ltd

Digital Marketing Business of the Year – Sponsored by PVL

Professional Services Firm of the Year – Sponsored by Litigation Protection, Loch Associates Employment Lawyers

Employer of the Year – Sponsored by Search Consultancy

1st Central Insurance Management Ltd

Green Business of the Year – Sponsored by Crawley Borough Council Green Business Programme, University of Brighton

The Award for Supply Chain Excellence – Sponsored by Hays

New Business of the Year – Sponsored by Coast to Capital LEP

RocketMill

Elekta Ltd

Opus Innovations Ltd

- Diamond -

April/May 2014 │37

ExcitEmEnt in thE PEnsions World… richard skerritt comments on the headline budget announcement Excitement – not a word you would usually associate with pensions, but the recent budget caused more than a ripple of excitement and surprise amongst everyone involved with the pension industry.

In a move anticipated by precisely nobody, the Chancellor, Mr Osborne, announced in his recent budget, the proposal that with effect from April 2015, people would be able to take ALL of their pension funds as a lump sum, from age 55. This, in a stroke, took away the most popular objections to pension saving, namely inaccessibility and inflexibility.

Up until relatively recently, people were forced to buy annuities with their pension funds – fine when annuity rates were good, but a major issue when annuity rates were poor, as they are at the moment. The introduction of Income Drawdown in the 1990s was a major step forward, but most people would still

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‘This, in a stroke, took away the most popular objections to pension saving, namely inaccessibility and inflexibility.’

be “forced” into buying an unpopular annuity with their hard earned pension funds. Therefore, the recent budget was a seismic change for all people who held pension funds.

How does this affect people in practice?

Whilst we think that the changes are, on the whole, great news for people with pensions, there are dangers and downsides.

Firstly, whilst you can take all of your pension fund as a lump sum under the proposed changes from April 2015 (providing you are aged 55 and above), only 25% of this is tax free – the remaining 75% of the fund will be taxed at your marginal rate. For people who are higher rate taxpayers, or would become higher rate taxpayers by taking their pension fund, this will have a major impact. Taking your pension fund in annual amounts to maximise your tax efficiency can overcome this, but requires planning.

- Personal|Finance -

richard skerritt managing director

Secondly, a pension fund has major tax advantages – apart from some tax on dividends with the fund, growth on assets held within a pension is largely tax free. Therefore taking money out of a tax advantaged pension fund, just to sit in a taxed fund or taxed bank account, doesn’t make an awful lot of sense.

Thirdly, a pension fund is designed to provide people with an income for life. Annuities, whilst unpopular and currently not great value, do achieve this. Allowing people to take all of the money out of their pension funds, does run the risk that people will spend now with little regard for their future income needs. Whilst we agree that people on the whole should be trusted with their own funds, not everybody is financially disciplined enough to plan for their future, especially in the “want it now” society we live in.

Will you buy a Lamborghini with your pension pot?

In summary Taking into account the dangers and downsides discussed above, we think the budget was great news for pension savers overall.

We think that it will encourage a lot more people to invest into pensions, now that there is the proposed flexibility in retirement, and that has got to be a good thing.

With upfront tax relief on contributions, tax efficient growth, tax free cash (25%) on retirement and with no restrictions on taking money from their funds (from age 55), pensions are a very compelling investment and one that everybody that is earning should consider.

An example of how this could work is shown below*: John is a Company Director aged 55 and has not used this year’s pension contribution allowance, or the 2 previous year’s allowances, giving him lots of scope to make pension contributions.

John is a higher rate (40%) taxpayer.

He decides to invest £100,000 into a pension plan. As he gets full tax relief on this contribution at 40%, the net cost to him is just £60,000.

Even assuming that the fund doesn’t grow (to guarantee this John could invest in a cash fund), John will have (approx.) £100,000 in his pension fund in April 2015. John decides at this time to take all of this fund as a lump sum. The first £25,000 is tax free, the remainder is taxed at John’s marginal rate (40%) – after tax, John is left with £70,000. This is an increase of £10,000 on his net contribution of £60,000, equivalent to growth of over 16% in the space of a year, without taking into account any fund growth on the money invested.

‘Taking into account the dangers and downsides, we think the budget was great news for pension savers overall.’

fund of £75,000, which has cost him £35,000, to draw out when he wishes.

If you would like to discuss the new oppor tunities brought about by the recent budget, or would like a review of your existing pension funds or your pension planning, you should speak to an Independent Financial Adviser.

Skerritts are currently offering a free initial meeting to all readers of Absolute Business magazine. Simply phone (01273) 204999 and mention Absolute Free Initial Meeting.

If you have pension funds that have not been reviewed recently, this could be having a major impact on the growth and potential growth of these funds. *The above example is subject to the proposals going through and no other changes to pensions legislation or taxation.

Skerritts are currently offering a free initial meeting to all readers of Absolute Business magazine. Simply phone (01273) 204999 and mention Absolute Free Initial Meeting.

Alternatively, John could take just his tax free lump sum and be left with a

- Personal|Finance -

April/May 2014 │39

Hilton Brighton Metropole Hotel

© 2014 www.phidia.com

MI D SUM MER BALL In Aid Of

Saturday

21st June 2014

£750

for a table of 10 To book your tickets contact Nicky Willard at nicky.willard@hilton.com or call 01273 715043

@TheBrightonBall

Sponsored by

Welcome to the

InstItute of DIreCtors Before launching into other topics in the future I thought I should begin by setting out what the Institute of Directors is.

If you are reading this magazine I am sure you will have heard of us, but what are we about?

The aims of the IoD have remained since its inception in 1906. Though the language of their expression and the environment to which they relate have changed, the core values remain.

We exist to: •

Promote for the public benefit high levels of skill, knowledge, professional competence and integrity on the part of Directors or equivalent office holders

•

Promote the study, research and development of the law and practice of corporate governance (and share any useful results of such study and research)

•

•

“Sounds good” you say, “but can I join?” Why yes, that is if you are a person who is responsible for the strategic business direction of an entity and the implementation of its corporate governance and who makes the decisions which determine its success and integrity.

Through regional committees, such as in Sussex, we try to ensure that we provide events and opportunities for members that will be accessible and relevant. Though events will enable members to meet and make contacts, their primary purpose is not networking but rather the opportunity to meet fellow business leaders and share experiences.

Represent interests of members and the business community, encouraging and fostering a climate favourable to entrepreneurial activity and wealth creation Advance interests of members and provide facilities, services and benefits to them

Members recognise that whilst we all have the stresses and strains of running our businesses, very rarely do we encounter an issue that has not been (or is not being) encountered by someone else, and that the sharing of their own experiences (good or bad) may help someone else through a situation.

Equally, the opportunities are there to share and encourage best practice. Through its Chartered Director training scheme the IoD offers a first rate route with high levels of expertise and qualification.

In Sussex we promote a series of opportunities for members to meet and discuss issues relevant to them. Most often over breakfast

and usually with a facilitator, groups can meet to discuss what they and their businesses need to talk about and share.

On top of this we also provide feedback from the grassroots of business to national headquarters at Pall Mall to enable them to lobby and persuade government on behalf of business. Regular “Policy Voice” surveys collate members’ views and dictate what points the national representatives are to advocate.

Dean Orgill Chairman of Mayo Wynne Baxter www.mayowynnebaxter.co.uk www.iod.com

Just a thought ...

March saw the 25th anniversary of (Sir) Tim Berners-Lee’s proposal paper advocating the creation of the internet. Where would your business be without it today?

As an organisation I have found that the IoD has provided me with excellent information, training opportunities, relevant events and the chance to have my say. It can do the same for you.

- Institute of directors -

April/May 2014 │41

THE VALUE OF FACE-TO-FACE ENDURES

By Jonathan Dolding, Head of Marketing & Events, Let’s Do Business Group

Despite economic trials and the emergence of new media, the value of face-to-face marketing endures. Just look at some of the opportunities on offer across Sussex – business breakfasts, lunch clubs, sporting occasions and exhibitions to name but a few.

In today’s modern age of technology, businesses have been able to utilise a multitude of new communication channels but the value of face to face communication cannot be underestimated, given that many of the county’s networking events attract dozens if not hundreds of business people.

Whilst harnessing technology and new media is fundamental in effectively reaching their markets, businesses must also plot and plan which face-to-face channels offer the best return.

followed was dozens of reply all emails with boasts, counter boasts and the odd opportunity to buy a surf board and cast iron fire grate. It was all light-hearted in the end. What was missing from the string of emails was credibility and the opportunity to build personal relationships – though someone did suggest a picnic with spam sandwiches.

As an exhibition organiser, I would of course say that exhibitions offer a competitive advantage over alternative face-to-face options, as they give like-minded people the chance to meet with their peers, share knowledge, discuss new ideas and build credibility in person, creating a forum where buyers can see, feel, touch, taste and present their products and services.

With the rise in more impersonal marketing channels and social media

‘Human interaction is what exhibitions deliver more cost effectively than any other promotional channel.’

approaches, exhibitions become more important than ever as human interaction is what exhibitions deliver more cost effectively than any other promotional channel.

If used properly and planned well, exhibitions are a powerful medium because they target an audience in one convenient place. They offer exhibitors the chance to influence motivated buyers and time-deprived decision makers who are often seeking immediate solutions to their business challenges.

Interestingly enough, the final suggestion of the email thread above was ‘Maybe whoever initiated this should set up a networking event for us to attend’. Long live face-to-face! www.letsdobusiness.org

Last week I was witness to a Bcc faux pas, where 471 email addresses were displayed in the Cc field and the sender sung his own praises about the services he offered. What - Exhibitions -

April/May 2014 │43

Green deal or no deal Now might be the time to read your EPC and act Who will this affect?

1st April 2018 might seem a long way away but commercial property owners, tenants and lenders should be considering their options now, in view of the provisions of the Energy Act 2011 (the Act).

The Act makes provision for the arrangement and financing of energy efficiency, improvements to be made to properties by owners and occupiers in particular in the private rented sector.

Initial indications are that between 18 and 20% of current commercial properties will need to be improved in order to meet the Minimum Energy Performance Standard Regulations (the Regulations), which as yet still do not exist.

The energy rating of a building is determined by its Energy Performance Certificate (EPC) and the vast majority of commercial buildings are required to have an EPC before they can be sold or let.

Current assessments are that the threshold for compliance with the Regulations are that a building should have an E rating and, therefore, those buildings with F or G ratings will not be able to be let after the Regulations are in force, which is no later than 1st April 2018.

This is unless significant efforts (i.e. the full package under the Green Deal has been implemented) have been made to reduce the rating to the lowest possible level.

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The Green Deal provides a funding mechanism to ensure that any works required to raise the EPC rating of a building can be implemented without an upfront cost to the landlord/ owner but the cost of the works and finance will be recoverable through the energy bills for the property from the party that instigates the works. However, the savings from the improved services must be sufficient to cover the finance and capital costs.

Who is responsible for the works?

Owner occupiers are going to be responsible for improving the energy efficiency of their buildings.

If the building is let, a landlord of a non-domestic property will be required to take such action to ensure a level of energy efficiency is provided in order to meet the Regulations. The property may not be let until the landlord has complied with the obligations mentioned in Section 49 (2) of the Act, thereby making such improvements in compliance with the Regulations.

In some and perhaps only limited instances (it will depend upon the wording of the service charge provisions in the lease) will the costs of these works be payable by a tenant.

A tenant would only normally be liable for the cost of repairs and not improvements and, therefore, improvements may not be recoverable as part of the service charges. However it is not uncommon for service charge

- LEGAL -

‘Owner occupiers are going to be responsible for improving the energy efficiency of their buildings.’

david ashton Head of commercial property at rix & Kay Rix & Kay is a leading regional law firm with offices in Brighton & Hove, Seaford, Sevenoaks and Uckfield. The firm has grown significantly over the last decade which bears testament to the strength of our client relationships and progressive attitude.

Recognised in the latest editions of The Legal 500 and Chambers and Partners in thirteen and eight practice areas respectively, the firm also boasts eleven Leaders in their Field.

We serve individuals, organisations and businesses across the South East and further afield.

S O L I C I TO R S

L L P

provisions to have a “sweeper clause” which entitles a landlord to recover under service charge expenditures incurred as part of good estate management, but tenants are likely to challenge any expenditure that improves the building.

Also in the current economic climate solicitors for tenants are attempting to remove any ambiguous clauses in the lease so that tenants do not have to pay for the “upgrade” of the landlord’s asset.

Actions to be considered

Owners and occupiers of nondomestic properties should be considering their contingency plans

to deal with the risks if the current proposals are implemented in full.

Investors and owners should review their portfolios now and consider what actions should be taken.

An owner or occupier needs to see what options are available to improve the EPC rating or possibly dispose of the property.

Tenants may want to sublet and should consider if they can make alterations and what landlords’ consent will be required. The Regulations will be in when the term comes to an end on leases where the term expires after 1st April 2018

‘Initial indications are that between 18 and 20% of current commercial properties will need to be improved in order to meet the Minimum Energy Performance Standard Regulations.’

A tenant will also need to consider whether or not funds can be obtained through the Green Deal and whether or not the repayments under the energy bills go beyond the terms of the lease, as landlords may reasonably request indemnities or may be able to refuse to give consent.

Tenants may also consider whether or not they should be renegotiating the length of their lease term perhaps for a longer term.

For further information on forming a new business, please contact the Rix & Kay Company Commercial team based in Uckfield on 01825 744447.

Recent posts - http://www.rixandkay.co.uk/news-social-media/ Twitter - @RixandKayLaw LinkedIn - http://www.linkedin.com/company/rix-&-kay-solicitors-llp

The Courtyard River Way Uckfield East Sussex TN22 1SL

- LEGAL -

April/May 2014 │45

Business Travel

In the last edition we gave you an overview of what Business Travel meant to us. We therefore thought that in this issue you should hear from the other side. We have randomly selected one of our clients, Graham Viles at Brand Learning, to provide you with an insight as to what their experience was like when changing Travel Management providers. Brand Learning - Global experts in marketing capability development supporting over 120 multinational clients with a touchpoint in over 60 countries.

IntervIew by Howard Hunter, unIglobe

Graham, tell me a little about you and your roles in the organisation? I qualified as an

accountant in 1988, following the completion of my degree in accountancy at UEA Norwich.

After working in audit at Grant Thornton, I held the position of financial director at Petal Group, a greeting card publisher. The company grew dramatically during that time and in 2002 I was closely involved in the successful sale of the business to a major competitor.

Having spent several years working for a sourcing company in China, I then returned to the UK. Immediately prior to joining Brand Learning I was financial controller for Sodexho PLC at Ascot Racecourse.

My current role is diverse and interesting. It includes working with the finance, commercial, IT and facilities teams to deliver a seamless business operations function to a busy and expanding strategic marketing consultancy.

Brand Learning has been listed as a Times Best Company to work for. What does this mean to you?

We were proud to secure a top five position in the Sunday Times ‘Best Companies’ award from 2009 – 2012, winning first place in 2011.

This, in addition to a top ten finish in the Great Places to Work ‘Best Workplace’ award for 2013, reflects our commitment to providing the best possible experience to our

46│ April/May 2014

employees. It’s very important to us here at Brand Learning that we’re constantly learning from the people we work with and are always looking to improve our standards.

Previously your travel was managed by one of the big three providers. Why wasn’t this working for you? Our previous

provider decided to centralise its response systems and, as a result, our relationship felt a little less personal.

As a client we like to develop strong relationships with our key suppliers and the change in direction from our previous provider felt like a move away from the position we wanted.

Naturally this led to the decision to review your travel provider.

What was this process like? We

approached the process just as we would any supplier review. Firstly, we asked contacts within our industry who they recommended – and we then began a formal procurement tender in which we invited the incumbent and two selected competitors to submit proposals.

‘After reviewing all the proposals, we selected Uniglobe as our preferred supplier and then commenced formal commercial discussions.’

After reviewing all the proposals we selected our preferred supplier and then commenced formal commercial discussions.

What were the key drivers & objectives and was it easy for you and your team to identify them? We

were looking for a supplier that would value the partnership between us.

We also wanted to ensure that our preferred supplier could support our - Business|Travel -

planned growth strategy, including international expansion.

Finally, we considered the views of the staff who would be involved in the day-to-day operations with our supplier; they needed strong relationships and quick response times. These were all built into our original brief.

Did the companies you engaged with assist in articulating the objectives? Yes, each company was

able to support our brief and each one made presentations around its own individual strengths. There were positives from all three tenders that needed to be taken into account.

Once the selection was made, how quickly were you able to implement the new TMC? The

implementation went very smoothly.

The selected partner assisted with the implementation and supported us in communicating with the team.

We arranged a face-to-face meeting between the new supplier and the employees who would be working directly with it, which helped to develop strong relationships at an early stage.

Having a company Director involved from the supplier side during this process was important as we found issues could be resolved quickly.

T: 0845 180 7817 E: sales@uniglobepreferred.co.uk W: www.uniglobepreferred.co.uk

Graham Viles Commercial Director

What were your main concerns about the change? As with any

time you make a major change with suppliers, we wondered if we made the right choice. Despite all the processes you put in place, we recognised that without any previous experience with a new supplier, there is risk that it could all suddenly go wrong.

refunds for unused flights, the whole process went very smoothly.

How did you gain buy-in for the change from your organisation?

What resistance was there?

It was also important that we maintained emergency cover during the transition and were able to continue to book flights as the transfer occurred.

The fact that we were able to support our growing American presence by working for the first time with both our UK and US offices was a great way to sell in the change. We were also able to organise hotel bookings with our new supplier and this had a favourable response from our travelling employees.

How smooth was the implementation? It went very

Were senior management engaged in the process? Yes, our CEO and

smoothly. The face-to-face meeting enabled a great working partnership to develop early and we felt that our new supplier greatly supported us during this phase. A project team from both sides worked to ensure all timelines stayed on track.

What were the pain points you encountered during the change process? Leaving our previous

supplier was hard given the amount of time we had worked with them – but in all honesty we experienced very few pain points during the change process. Apart from some hiccups having to manage the

‘We have worked with Uniglobe for nearly two years now and the relationship is strong and regular contact between UNIGLOBE and our employees has ensured that the day-to-day interactions run smoothly.’

Board were engaged in the process from the beginning. They supported the decision-making and also the communications to the overall team.

Since changing Travel Management companies what have been the most significant benefits? As stated above, we now

have support both in the UK and the US and this gives us a very local feel to our growing international presence. Being able to book hotels through the travel account has also been a huge positive for both our business and our travellers.

- Business|Travel -

We also receive detailed management reports that enable us to review travel needs. In fact, we are in the process of negotiating our first route deal via the TMC, as we continue to expand globally.

You operate in a number of countries. How was your Travel Management Company able to help with the multi-national rollout?

They had an office in the New York area and we are now talking with the people there about supporting us in our new office location in Singapore. We have found them to be a flexible partner with either group offices or partnerships in all the areas we are considering.

Would you recommend your Travel Management Company?

We have worked with UNIGLOBE for nearly two years now and would recommend it. Whilst there have been a few small issues on the way, the relationship is strong and regular contact between UNIGLOBE and our employees has ensured that the day-to-day interactions run smoothly.

April/May 2014 │47

PREPARING FOR YOUR EXHIBITION Top 10 - hints & tips 1.

PLAN AHEAD When booking a stand at an exhibition you generally do this at least weeks, months or even a year ahead but yet we so often get calls very late in the day for products needed for the stand. This could be for the banners, roll ups, promotional products or business cards. Try to set yourself a deadline of ordering your items six weeks in advance. This then leaves plenty of time to get everything right, produced and delivered to you.

ENSURE YOU KNOW THE SIZE OF YOUR STAND Make sure that you know the actual size of your stand before you order anything to go on it. If a stand is 2m x 1m, you will not fit on a pop up stand sized 2m x 3m. This may sound obvious but people cannot always visualise the size their actual stand will be. Try measuring out the space in your office and working out what you want to do with the space.

3.

2.

THINK ABOUT THE DESIGN OF YOUR STAND Bright colours, simple and easy to read text will all help attract visitors to your stand. Ensure your stand makes it obvious what your business is all about. All items on your stand should match your brand – collateral should all match and have the correct logo on and be the correct colours.

HAVE ENOUGH MARKETING COLLATERAL Running out of cards and brochures is a big no-no! Ensure you have plenty of business cards, leaflets and brochures for the show. If you have not got enough, order them in plenty of time. A show specific flyer can be a very cost effective solution and can be a good way to measure show success.

4.

For more information please contact sales@signage-printing.com or call 01323 469111.

48│

April/MAY 2014

- SIGNAGE -

5.

CLOTHING AND NAME BADGES Ensure all members of staff who are manning the stand have a name badge and corporate clothing. This always makes you look professional, prepared and friendly.

6.

THINK ABOUT PROMOTIONAL ITEMS Word gets out if you have an alternative giveaway and this will drive visitors to your stand. These keep your Company name at the front of peoples’ minds and people like receiving freebies. Many people give away pens, stress balls, key rings, phone skins, mugs or sweets. Small items that people can carry with them always work the best. You do not want to be bogged down with too much to carry when you are visiting a show.

INVITE PEOPLE TO YOUR STAND Spend some time thinking about who you would like to visit your stand and send e-mails to these people to invite them. This can be prospects and existing clients as well as potential suppliers.

8.

MAKE SURE YOU ARE IN THE SHOW GUIDE All exhibition and trade shows have a show guide. Make sure you have an entry which is more than just your name and address. Something concise and informative about what you do can help get visitors to your stand.

It also will help those who keep the show guide, as a potential supplier directory.

ENSURE YOU KNOW HOW THINGS WORK How many times do you get to your exhibition stand with the equipment to put up and find you do not know how to use it? Practise beforehand to ensure you do not have the stress and worry on the day. We are happy to help you with this by showing you how it works when you buy.

10.

7.

9.

BUILD UP AND BREAK DOWN TIME Most events have an allotted time for you to build your stand and break it down again afterwards. Ensure you have staff booked in to do this rather than having the stress of trying to get the stand ready on the day. Do not start breaking your stand down and packing away until all visitors have gone. This looks really bad and makes you look like you cannot wait to get away.

Please visit our website: www.signage-printing.com - SIGNAGE -

April/MAY 2014

│49

993 Million and counting

By Sasha davies and amanda godfrey, directors, godfrey investments

What does “property investment” mean to you? A new kitchen? A second home? Extending your buy to let portfolio? Finding that elusive piece of land with sea views on which to build your dream home? According to our friend Collins (of the English Dictionary) any and all of the above would fall under the literal definition – “the act of investing money, effort, resources… into something of value” Investing in property, whether it be in your own home, or for primarily financial reasons, has been popular in this country for centuries and will no doubt continue to be so. Just take a look at the TV listings for the next few days – if you weren’t so busy working, you could enjoy 25 hours of property related TV each day (yes it is possible if you fast forward through the ads!).

Google “Top 10 reasons to invest in property” and you’ll get around 993 million hits, compared to only 535 million for the top 10 things to do before you die!

So what is it about property? Well first and foremost we all need somewhere to live. In the UK, two out of three households are owned by the families and individuals who live in them. Property for many of us has been the single biggest investment we have made and are likely to make.

50│

April/May 2014

Buying your own home has made sound financial sense – there are not many other purchases for which you could go to the bank and ask them to put up 80% of the value at a reasonable cost over twenty five years. Residential property performed on par with the FTSE 100 over the last thirty years and, given the proportion of home ownership and the nature of the market, even in a downturn, “panic selling” en mass is extremely unlikely, making it a generally good investment either on its own or as part of a diversified investment strategy.

Investing in additional property has been an increasingly popular choice for both financial reasons - the benefit of a regular income stream as well as the value created through capital appreciation; the leverage and potential tax benefits – as well as more emotional reasons. Many people we work with and speak to talk about the “reality” of property – the opportunity to touch it, see it, and even

- Property|Investment -

drive past it. Particularly when it comes to investing with your children or grandchildren in mind, not only the possibility that you may be able to help them with their first home, but that they will get to experience the reality of your investment has considerable attraction.

The impact of the recent financial crisis has been widely reported, the challenges of getting onto the property ladder and the impact on first time buyers is certainly evident. So how has this affected the “profile” of your average investor? Our view is that Mr, Mrs, Ms Average has never really existed – like the 2.4 child family. In the few years that we’ve been working in the area we’ve seen new investors just out of college and well into retirement. We’ve met individuals with astronomically high net worth and others with minimal financial opportunity. There are first time buyers aged eighteen and eighty. Some people with incredible insight and knowledge of the

Sasha Davies and Amanda Godfrey

industry and others with “high will” but low skill. This diversity is just one of the examples of what makes what we do on a daily basis so exciting and varied – we both spent twenty plus years dealing with Corporate Purchasing Managers – can you imagine how much more fun this is?

Those investing in property may come in all shapes and sizes and have a multitude of decisions to make – where to invest, when, with whom? And with few exceptions we all have to deal with multiple “players” in the industry. Extending your home will require at minimum a decision on an architect and a builder and is likely to involve planners and your neighbours. Purchasing a property at minimum a solicitor, mortgage lender or other form of funding. Developing your own property? Then add to the list with structural engineers, the NHBC (National House-Building Council), health and safety inspectors… And nowadays thanks to the plethora of “case studies” available to us through various media, we are all property experts! At the least, we should know that like many projects across many industries, budgets are often too low, timeframes too optimistic, contingency planning is often overlooked and communication often undermanaged – the classic business plan trap of over promise and under deliver.

In a complex environment, where, despite the large sums of money involved, many of us make decisions – particularly when it comes to our own home – based on heart vs head or emotion vs logic. We are advocates of using both sides of our brains and not just to force logic to help justify the decision! We can all be guilty of the latter – one of our colleagues recounts with a wry smile how she made her decision to buy her home “within seconds” of walking through the front door and then quickly turned every potential negative into a positive: located just off the A26 became “great access”; being attached to the neighbour’s house – “I’ll feel safer when I’m alone a night”; lacking an ensuite – “who needs three showers for three people anyway?” We don’t need agents to spin features for us when we are more than capable of doing it ourselves!

What has worked well for us in the relatively short time that we’ve been running this business is a combination of clarity, focus and objectivity – which we’ve used to assess the projects we’ve taken forward, from the type of opportunity to the projected return on investment – and a more emotion based and intuitive approach to how we have created partnerships and developed relationships. Property investment for us is both science and art - Property|Investment -

we are equally passionate about both and look forward to sharing some of what we’ve learnt over the coming months.

If you have any property investment projects that you’d like advice on, or would just like to talk through to get an additional perspective on, please do call or e-mail us – we’d be very happy to see if we can help.

“The information included in this article does not constitute any form of financial advice or recommendation and is not intended to be relied upon by any reader in making any specific investment decision”.

Godfrey Investments

72B St Georges Road BN2 1EF 01273 672801 info@godfeyinv.com godfreyinv.com

April/May 2014

│51

The History Man Chris Coopey, Practice Director at Chartered Accountants Carpenter Box, has an unquenchable thirst for knowledge.

Interview by Ian Trevett

“Most people think that Carpenter Box is a made-up name,” declares Chris Coopey, “but it isn’t the case.”

There is no doubt that Chris is about to explain the origins of the company name. “It started in Brighton in Midland bank chambers.

Mr Carpenter, who was a chartered accountant, trained Mr Box. When the training was complete, Mr Box was about to set off on his own career, when Mr Carpenter suggested they form a partnership, and thus the firm was formed as Carpenter Box 90 years ago.”

There is something quite infectious in Coopey’s enthusiasm. He is just so interested in the personalities that started the practice, that you get drawn in. You get the feeling that he would have loved to have met both Mr Carpenter and Mr Box. He recalls the excitement of discovering Harold Box’s World War One medals and wonders what his experiences were like. Mr Coopey would have been the perfect history teacher.

Maybe one day he will be, but for now he has plenty of business matters to embrace. After a varied career he trained as a lawyer, 52│

April/May 2014

becoming a partner at Wynne Baxter (prior to the merger with Mayo & Perkins). Inevitably he is an authority on Mr Wynne Edwin Baxter, the coroner who presided over many of the inquests into the victims of the infamous Jack the Ripper cases. He then made the unusual step for a lawyer in joining an accountancy firm.

“Usually it happens the other way around. An accountant joins a law firm as a Financial Director. But I was massively impressed when I met the partners of Carpenter Box they understood things very clearly.

They measured their success by the success of their clients. They felt that if they could do anything to help a client to grow, develop and become more successful, then in doing so Carpenter Box would become more successful. And they are not wrong.

This client-centred approach is the best way to be.

‘The yardstick I use is that if any member of our agricultural team were to walk into a pub full of farmers, they would not only understand the language but could speak it too.’

“They really are businesspeople who understand business. And in the last couple of years we have taken this idea on a step. I think we are quite unusual. You expect accountants to do the accounts and tax returns, and even give tax advice - and we can. But - Accountacy -

we have also developed a number of specialist sector teams that can give real advice. We have strong property & construction, manufacturing, health, automotive, not-for-profit sector teams and many others. The yardstick I use is that if any member of our agricultural team were to walk into a pub full of farmers, they would not only understand the language but could speak it too.

“Many of my partners are from national firms but they had decided they wanted to get out of big firm culture to row their own boat so to speak. I was asked to join to think about branding and projecting the firm’s expertise out there and because I believe in our product, I am real advocate, and in truth I do enjoy talking!”

There is a touch of self-deprecation in this statement. Admittedly, Chris does enjoy a chat, but a better description is that he is a communicator, and he encourages the company to be proactive in the business community. He isn’t afraid to voice an opinion either.

“Our sector approach is more than finding new clients,” he explains. “We look to influence the sector itself.

An unusual meeting place for the partners: Thingvellir in Iceland, in a lake where the tectonic plates meet.

For example, we facilitate the Sussex Manufacturing Forum and through MHA (a UK wide association of accountancy and business advisory firms of which Carpenter Box was a founder member), we lobby the Government on behalf of the sector in relation to issues that affects the growth potential of manufacturers and engineers. We get manufacturers together to set the agenda.

“Recently, we arranged a round table of educationalists and industrialists to discuss the skills gap. With the secondary education system as it is, the connection isn’t really there.

The Further Education colleges and universities will put on engineering or manufacturing courses if they think they can get bums on seats. If secondary schools aren’t pushing STEM (science, technology, engineering, and mathematics) subjects then these courses won’t get the desired demand. Michael Gove is pushing an agenda of traditional academic subjects which isn’t helping the problem. Unless secondary schools start to target more vocational learning and the STEM subjects, the skills gap will grow worse. This is something we

campaign on, and is an illustration on how we act differently to most accountants.

“Girls certainly aren’t encouraged enough to do STEM subjects and there is a massive shortage of women in engineering. One Welsh manufacturer I met told me how every year he arranges tours for local schoolchildren around the factory demonstrating how hightech the company is. On the way out, he heard the teacher tell the kids: ‘This is where you will end up if you don’t work hard!’ Can you imagine how he must have felt?”

We are very excited by the possibility of a new runway. But even if it doesn’t happen, Gatwick/ Crawley is and will be a vibrant place in which to do business, and a very different market in comparison to the coastal towns.

Carpenter Box has grown rapidly and employs 106 people in Worthing, which is a fair size for an independent regional practice. Understandably the company is looking to expand its reach and a second office is being established in Gatwick.

“We are very excited by the possibility of a new runway. But even if it doesn’t happen, Gatwick/ Crawley is and will be a vibrant place in which to do business, and a very different market in comparison to the coastal towns.

- Accountancy -

“After spending a lot of time around Gatwick, Crawley and Manor Royal, we decided that initially, The Beehive was the right place for us. It is the original Gatwick Airport terminal built in 1936 in Art Deco style. We have taken time to meet professionals in many sectors in the Gatwick area and we feel there is a demand for our services and specialist sector approach in the area.

Crawley is an interesting place to do business. As a market there are so many opportunities there. It took a little while for me to understand how the geography works. The town and Manor Royal are very close, but are quite separate.

“There is a great cluster of manufacturing and engineering, not all of which is associated with the airport. Our critical mass and expertise in this sector means we can give valuable service to such companies which might formerly have only used national firms. We also benefit from our involvement with MHA as well as Morrison International which is a worldwide association, with representation in 65 countries. We take our memberships very seriously and use it to build April/May 2014 │53

strong relationships by getting very involved. Over the past couple of years we have attended conferences in Geneva, New York, Dublin to make relationships.

So is this the star t of a UK-wide network of Carpenter Box offices?

According to Chris the company has no such plans.

‘Worthing is an excellent place in which to do business.

There is a belt of commerce around it yet the town itself is the calm in the eye of the storm. Around the edge there are some worldbeating companies.’

“I think we will continue to grow but what we won’t do is have a proliferation of offices. Whatever structure we have in next five years, we want to ensure that the client is the centre of our world.

“The hub in Worthing is such an impressive place to be as there is always someone there with the expertise, whatever the subject. And also Worthing is an excellent place in which to do business.

“We have some great companies nearby. There is a belt of commerce around it yet the town itself is the calm in the eye of the storm.

Around the edge there are some world-beating companies. You have companies like Ricardo at Shoreham Airpor t, Bowers and Wilkins (arguably the best speaker manufacturers in the word, take a look at their Nautilus speakers – unbelievable!), ETI (Electronic Temperature Instrumentation). Both B&W and ETI have been awarded a Queens Award for Industry. There is Parafix (adhesive tapes), Penton (fire alarm technology) and Saywell (distributor of spares for aircraft) to name a few.

“We think Wor thing and Adur is a great place to be and has a fantastic quality of life. We want to retain our hub here.

“Because both Worthing and Brighton and Hove are within the Coast to Capital Local Enterprise Partnership (LEP) we think Worthing is destined to become more connected as Brighton and Hove start to look more to the west. I think traditionally Brighton has looked to the east, but Eastbourne and beyond are in a different LEP - the South East LEP so the focus is changing. Add to this the Greater Brighton project, which means that there is a new nexus, again reinforcing Brighton’s links with

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- Accountancy -

towns to the west. Hopefully both Coast to Capital and the Greater Brighton project should unlock considerable funding in transport, education and infrastructure, which will be extremely positive.

“As well the support for the locality, we don’t want to lose what we have, which is a real family feel to the firm.

The firm has a personality. I think we are seen as quirky, fun and dare I say, not your typical accountants.

“One thing that I love is that my par tners lunch together every Wednesday. Whoever is in the office will stroll through Wor thing to a restaurant, often to the amusement of the local traders who see us do so every week. We then spend a good couple of hours catching up with news and quite frankly, having a bit of a laugh, normally at each other’s expense!

“We also plan trips away - the most recent being to Iceland. We wanted to see the Northern Lights and thought it would be fun to go to Iceland. Of course I arranged a few activities, unbeknownst to the other partners, eg snorkelling in a lake with a temperature of zero degrees, just over the canyon where the American and Eurasian tectonic plates meet. To the horror of one of my partners, we also went caving in a lava tube. If only I’d known he was claustrophobic! To his credit he braved his fears and a good time was had by all.

“The firm is also very much a part of the community with our wonderful staff involving themselves in all sorts of fundraising.They run the Carpenter Box Charitable Foundation which over the last three or four years has given something over £50,000 to local good causes.”

Which brings us to the real reason why Carpenter Box employed Chris Coopey.

“Yes, 15 years on I am still organising my charity quiz nights,” he replies to my final query.

In a constantly changing business world it’s good to know there are some familiar institutions you can rely on! www.carpenterbox.com

The CommerCial SCene

in Sussex

Steve Berrett Commercial manager steveberrett@michaeljones.co.uk

Being asked to write an article on the commercial property market in Sussex is a fascinating task, not only does this cover a wide area of the southeast coast but there are also many different sectors from small retail shops right through to large industrial estates that can affect the market.

Recent repor ts from economists suggest the larger UK Commercial market as a whole is robust and the strongest it has been for six years and set to increase by 2.5% in 2014. However, in changing times and with question marks still over the performance of the high street it is not so easy to generalise the market place.

The London Connection Sussex property, like many other south east counties, is being fuelled by investors in the city who are looking to regional markets for investment opportunities.

We have noticed a substantial increase in enquiries from London buyers in 2014 as, not only is there a limited supply of stock in the city, but clearly you can also get a lot more ‘value for money’. It is likely that a typical £1m-£5m sized development opportunity will attract one third of buyers outside Sussex. So if you are looking to sell your commercial property, it is worth considering targeting buyers in the London area, as they are often looking for a quick and efficient sale.

Change in Planning New permitted development rights set out under the Town and Country Planning: General Permitted Development Order (Amendment 2013) has been brought in nationally to encourage development. The move is to speed up its delivery by removing local authority red tape as well as reviving economy and the housing shortage.

This incentive for developers is currently only available for three

years and it has already encouraged numerous office premises in Sussex to be converted into residential dwellings. With lower office capital values and with residential values on the increase, developers are scouring the local market looking for dilapidated or refurbishment opportunities which could provide a healthy return on investment.

More Retail and Trade Parks for Sussex The demand for more industrial and retail parks is growing significantly as consumers increasingly demand out of town and easy access shopping locations. Larger stores are also unable to find the physical spaces they need in town centres and so they look to parks for a solution.

Chichester and Bognor Regis are areas which are currently blossoming, with Bognor having seen two new out of town retail parks open up as well as being awarded a regeneration grant of £1.65 million, following a successful bid for funding by Arun District Council to help create a vibrant, modern and attractive town centre.

‘GlaxoSmithKline has been beefing up its facilities in Worthing. Their existing site will receive £120 million for local upgrades and expansion buildings to produce the pharmaceuticals giant’s top selling antibiotic.’

having been affected by the recession for so long. With new companies starting up and looking for business premises or existing scaling up to meet the increased demand.

It has been extremely difficult for businesses to buy freehold premises and particularly on our doorstep.

Older units are now showing their age which makes this a vital contribution to attract and retain small and growing companies to the region. Some of the larger companies in the area have found that building their own premises is the only way to enjoy a commercial property that meets its needs.

In Worthing, Rayner Intraocular Lenses is building a brand new headquarters and will transfer its 170 strong workforce from Hove to the site and create 30 new jobs in the process. On the same estate, GlaxoSmithKline has been beefing up its facilities. Their existing site will receive £120 million for local upgrades and expansion buildings to produce the pharmaceuticals giant’s top selling antibiotic.

The commercial property market in Sussex is certainly on the move. If your business is looking to expand or you are looking to invest in commercial property then seek advice beforehand with a professional commercial agent.

Build your Own Commercial Premises Expansion in the industrial sector has been particularly noticeable locally

- Commercial|Property -

April/May 2014 │55

Your Commercial Agent across Sussex

Development site of approx 1.2 acres for sale

Freehold warehouse/office investment for sale

Modern warehouse with first floor offices to let

Worthing

Rustington

Portslade

• Level, well located site suitable for high-density housing (STPC) • Excellent location close to Durrington station and Worthing Leisure Centre • Conditional and unconditional offers invited for the freehold

• Three recently refurbished warehouse units and 3 storey office building • Total site area of approx 15,368 sq ft with approx 35 parking spaces • Current total rental income of £126,000 from 5 existing tenants

• Warehouse with excellent first floor offices totalling approx 2,703 sq ft • Roller shutter door, male & female WCs, kitchen facilities and 3 phase electric • Parking for 5 cars to front in addition to loading and unloading area

Guide price £2.25 million

Asking price £1.45 million

Rent £24,000 per annum

Small portfolio of three tenanted properties for sale

Prominent character town centre retail premises to let

Prominent offices close to town centre to let

Petworth

Worthing

Worthing

• Rarely available Grade II listed buildings in idyllic village location comprising a retail unit (currently a post office) with residential accommodation and two further residential cottages • All units subject to existing tenancies

• Ground, 1st and 2nd floor unit and large basement with total approx 3,356 sq ft • Suitable for A1, A2 and A3 consents • Wooden flooring, inset spotlighting and air con throughout with WCs on ground and 1st floor levels

• Ground and first floor offices of approx 5,654 sq ft • Parking in separate nearby yard for approx 30 vehicles • GCH, air con, suspended ceilings, kitchen and WCs to both floors

Price £625,000 (3 properties)

Rent £40,000 per annum

Rent Upon Application

Commercial

01903 228602 8 Chapel Road, Worthing commercial@michaeljones.co.uk Steve: steveberrett@michaeljones.co.uk Jon: jonjustice@michaeljones.co.uk

www.michaeljones.co.uk Steve Berrett / Jon Justice / Emma Isaac

Attractive Town Centre Offices TO LET PROPERTY:

Ridgeworth House

RENT: SPACE:

£58,476 per annum

3rd floor town centre offices

5,315 sq ft

SOLD: LARGE WEST SUSSEX INDUSTRIAL INVESTMENT Top: Harwood Business Centre, Littlehampton Bottom row, left to right: King Edward Close, Worthing Wickham Business Centre, Littlehampton Southcourt Yard, Worthing

PROPERTY:

Industrial portfolio consisting of 41 units over 4 industrial sites in Worthing and Littlehampton,West Sussex

SOLD PRICE: SPACE:

£3.7 million 57,000 sq ft

M

ichael Jones Commercial are pleased to announce the sale of this large commercial investment portfolio in West Sussex. The off market instruction was sold to a private investment company based in Brighton who has recently acquired a further site in nearby Hove.

The sites produce annual rent of £350,000 therefore showing an initial return of circa 9.5% with prospects for growth.

Over 90% of the units were sold with existing tenancies whilst Michael Jones Commercial has worked quickly to decrease the vacancy levels for the new owner.

The firm are now instructed on two similar investment sales in West Sussex.

Further details can be obtained by contacting Steve Berrett or Jon Justice on 01903 228602.

‘WE NEED MORE INDUSTRIAL PROPERTIES TO SATISFY GROWING DEMAND.’

If you are looking for a stateof-the-art office suite that is ready to move in to, then this property is for you.

Previously occupied by a prestigious PR company, these contemporary offices are available to rent.

The suite is mainly open-plan with room for approximately 60 desks and there are also several private meeting / manager rooms. The suite has 8 allocated on-site parking spaces, something of a rarity for town centre offices.

The offices provide a modern working environment and should attract interest from a variety of commercial businesses. It benefits from suspended ceilings, recessed lighting, gas central heating, secure entry phone system, shower room and a passenger lift to all floors.

There are also lots of fun touches, including an American style diner, eye catching bright images on the sunblinds, a seaside themed meeting room and one with imitation grass!

The suite will undoubtedly inspire a new or relocating business and viewing is highly recommended.

To find out more about this unique property then call the team at Michael Jones Commercial today.

2014 Racing & EvEnts

Sponsor a race or take ADVERTISING & SPONSORSHIP full ownership of a race Race sponsorship and on-course meeting make it Excitingand racing, spectacular views and a great location advertising is a great way to promote an extra special day... your company for brand positioning, product launches, networking or for celebrating a special occasion amongst friends, family or employees.

With a private suite to host your guests, there’s no other feeling like it when your race name is announced and you all join in the excitement of watching your race; certainly a memorable occasion for all!

With over 150,000 visitors each year and many more watching televised action of the racing via live TV coverage on Sky channel AtTheRaces, race sponsorship and on-course advertising is a great way to promote your company in the sporting arena.

To book call 01273 603580 or visit www.brighton-racecourse.co.uk

2014 Racing & EvEnts Exciting racing, spectacular views and a great location

AUGMENTED REALITY IS DINO-MITE Nova Direct and Konica Minolta showcased the future of print using prehistoric creatures at IPEX 2014 Words by Daniel White

Dinosaurs were brought to life in March using a combination of the latest digital technology and the power of print at the world’s biggest English speaking event for print, publishing and media.

everyday life. The technology can add graphics, sounds, haptic feedback and smell to the natural world as it exists, with video games and mobile phones likely to be the first to see its benefits.

Running across six days at the ExCel London, IPEX is an exhibition that combines the latest technologies with education to allow a glimpse into the future through showcases, industry forums and a comprehensive programme of events.

Everyone from soldiers, to drivers to someone looking for the nearest train station may soon be able to benefit from the ability to place computer-generated graphics in their field of vision and Fry believes its future opportunities are endless.

IPEX’s Inspiration Avenue celebrated the powerful print opportunities available and saw Nova Direct team up with Konica Minolta to re-engineer software, typically used in technology for children’s games, to show its practical applications in the real world.

“Typically, people can see a 3D photograph online of an everyday object, but they’ve no way of easily knowing how it would fit in to the exact space at their home,” explains Fry. “So by taking a printed sheet home, they can then put the sheet in the exact space they want the TV to go and then see it in the exact size and spot as it would appear in their home.

The potential is enormous.

Their outcome: the image of a dinosaur projected on to the screen of an iPad or iPhone through identification of an image on a printed page. Andy Fry, the Managing Director of Nova Direct, is excited by the future of the technology.

“If you thought print was a dinosaur, you’re wrong because we’ve brought it back to life especially for IPEX,” Fry beings. “This sort of application is going to be a profitable bit of our business in months and years to come.”

The Augmented Reality technology is thought to have major practical uses in the near future, with plans to apply it to

“As another example, take a cruise holiday: do you want to have an economy or economy plus cabin? Perhaps even a tour of the grand ballroom. Using an iPhone or iPad to scan a brochure or mail piece provides an immediate true-to-scale appearance of exactly what it would be like.”

Nova Direct is one of the UK’s leading providers of digital print and for more information call 01444 231400 or visit www.novadirectmail.co.uk

- Business|Marketing -

April/May 2014 │59

... engaging minds, encouraging excellence, shaping futures

We invite you to find out what Hurst can offer your child To find out more, visit our website www.hppc.co.uk To arrange a personal visit or to attend our Open Morning on 10th May 2014 please contact Admissions on 01273 836936 or email admissions@hppc.co.uk Academic, Art, Drama and Music entry awards available for Senior School entry at 13+ and 16+ Academic and Music entry awards available for Prep School at 11+

Hurstpierpoint College

College Lane

Hurstpierpoint West Sussex

BN6 9JS

How scHools And businesses cAn Help young people gAin workplAce skills

Heather Beeby Director of Communication Hurstpierpoint College

Although most schools offer some form of careers advice to their pupils, for independent schools this tends to focus more on which degrees fit which career paths. Relatively few consider entering the workplace directly from school, although the increased tuition and living costs associated with studying at university may become more of a factor.

For employers, there has long been a recognisable skills gap, both for school leavers AND amongst university graduates, who are judged as not properly equipped to enter the workplace ‘ready for business’.

Much has been written about how schools and colleges should do more to prepare their students for their future work lives and at Hurstpierpoint College we have put an excellent careers advice and work experience programme in place. Our parent body and alumni are hugely supportive in visiting the College to give careers talks on their particular area of expertise, to take part in ‘speed conversation’ evenings and to offer a series of wonderful work experience opportunities for sixth formers, preceded by a formal CV

writing, application and interview process at the College.

For many young people joining an apprenticeship scheme and receiving training and employment at the same time is becoming an increasingly attractive proposition.

A medium-sized business in mid-Sussex, Hurst is, as a responsible employer in the community, considering working with City College in Brighton and Hove to recruit apprentices to work in its support staff team in a number of different areas, for example a trainee electrician in our estates department.

‘Apprenticeships are not necessarily an expensive option for employers, as government funds are available...’

For the employer, the support offered by the apprenticeship training provider may include, amongst other things, pre-recruitment, interview and assessment of apprentices, along with the delivery of training, evaluation and progress reports.

It may help highlight a skills gap within an organisation and enable a company to plan its future workforce with trained employees who have the right skills and knowledge to answer the needs of that business.

- Business|Education -

So how do apprenticeships work?

They are available at levels, ranging from GCSE through to Degree level and combine a minimum working week of 30 hours paid employment with flexible attendance at college, either one day or evening per week or for a period of time in a block, depending on the structure of the apprenticeship.

Apprenticeships are not necessarily an expensive option for employers, as government funds are available to cover the costs of the compulsory elements of the scheme. Employers are expected to contribute to training costs and to cover the salary of its apprentices which are on a National Apprenticeship Minimum Wage scale.

As a way of unlocking potential, apprenticeships have a great deal to offer, both for the young people and the organisations who engage with the scheme. The website www. apprenticeships.org.uk has a wealth of information for companies, young people and parents. www.hppc.co.uk

April/May 2014 │61

Knowledge is power

Viki Faulkner, Head of training and Development at the University of Brighton

Can academics and businesspeople talk the same language?

They certainly can, says Viki Faulkner, Head of training and Development at the University of Brighton, and partnership can yield valuable results.

InTerVIew By Ian TreVeTT I head up the in-company training arm of the university, based in the economic and Social engagement Department. I am very much externally-facing, building bridges between what we do inside the university (research and teaching) and what we do outside with the business community. I help business people to find a way in and help the academics to find a way out.

We can build advanced courses with businesses such as the MSc in applied Computer Science we developed with IT company FDM. Or we can provide short courses for employers in areas such as leadership and management, innovation and specialist technical skills.

We see our role as a university as bringing new trends and ideas to the business community. we can say to businesses, why not talk to us, we are at the leading edge of a lot of the new innovations and developments.

We can go into businesses and work with them to assess their training needs and help design a package of support, whether it is tailormade training, consultancy, providing interns or working on a KTP (knowledge transfer partnership). we will look at the ways the university can help the business and that is the raison d’etre for our department .

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People often see universities as being closed to anyone who is not on a two or three year degree or is not aged between 18-22. But our offer is much wider than that. Courses can be as short as half a day and we can deliver them on the company’s site. For example we ran a short course on waste management for a consortium of businesses in the Manor royal area. Businesses often don’t think of asking their university for help.

We are very serious about applied research at the university. It has to be relevant and useful to business.

There is nothing that academics love more than a problem to solve. If you have a business dilemma, let them help.

Sonia Blizzard from Beaming is an advocate for Profitnet

We have to be aware of revenue streams for the university. we set up the training and development depar tment a year and half ago. we pulled together various courses and training programmes and brought them together and we treat the depar tment as a business.

Beaming’s Sonia Blizzard is a passionate advocate for ProfitNet. Beaming is an internet and telephone service provider based in St Leonards on Sea. Started in a garden shed in 2004, Beaming’s growth rate of nearly 800 percent between 2006 - 2011has led to it being listed in the Deloitte Technology Fast 50 for the last three consecutive years.

One of our most successful ventures is the Profitnet initiative. Selected business owners and managers come together in total confidence, once a month to collaboratively address real business challenges and help each other seek new opportunities for innovation and growth. we have several case-studies on our website.

As a result of Profitnet, Beaming’s Managing Director Sonia Blizzard completely revamped their marketing and the way the company positioned itself. “with high-growth companies in a competitive market you can never stand still.what gives you a

- Business|Education -

competitive edge is applying knowledge and innovation. That comes from knowing about the latest technology and investing in training. Profitnet was definitely the catalyst for many of the initiatives which have produced this growth. The advice from my peers and the specialist training has helped me to think more strategically and confidently. I wouldn’t have achieved this expansion without the encouragement and support of my Profitnet peers.”

We worked with the Manor Royal Business District and Crawley Borough Council to develop a training course designed to help businesses of all sizes, but particularly SMEs, to work collaboratively to reduce their waste streams and increase recycling rates.

Steve Sawyer, Executive Director for Manor Royal Business said: “Waste is something that all businesses in the area are concerned about because the cost of dealing with it is very significant. So it made great sense to try to address the issue collectively with a course tailored specifically for the needs of these businesses.”

We have received funding to run a new phase of the programme through the Regional Growth Fund. Companies can apply now to join one of four new subsidised Profitnet groups,

although to benefit from the subsidy companies need to be within the Coast to Capital Local Enterprise Partnership area at the moment.

Knowledge Transfer Partnerships (KTPs) enable businesses to access knowledge developed in universities to benefit their business, at the same time enabling academics to apply their research and understand its application in industry to benefit future research and teaching.

KTPs are fantastic opportunities to take on a research and development project and put a

new member of staff in your team as well as having an academic as an advisor. Fresh thinking, specialist expertise and business experience is a very powerful combination.

Businesses can steal a march on their competitors and really get ahead.

Please talk to us, even if you are not sure how we can help. It is only by talking that we can find a way to help you grow. Our remit is to create jobs and support innovation.

Contact us at the business helpdesk (0)1273 643098 businesshelpdesk@brighton.ac.uk

New Business Growth Programmes from the University of Brighton All subsidised to help your business to grow.

• Knowledge exchange • Development Programmes • Graduate internship placements • Grants

Raise the performance of your business by injecting new talent, innovation and inspiration from like-minded business people. Whether you need a graduate placement or a place on our business development programme Profitnet, we have a wide variety of expertise that applies to business, and we will be delighted to share it with you.

Call the Business Helpdesk on +44(0)1273 643098 or email businesshelpdesk@brighton.ac.uk

Business helpdesk advert v2.indd 2

07/04/2014 11:41

COMMUNICATING YOUR BRAND

Graphic and 3D Design Project Management Commercial Signage Interior Environments Exhibition Design & Build Way Finding Retail Branding Our clients

+44 (0) 1323 469111 www.signage-printing.com

THE UNIVERSITY CHALLENGE

In our next issue, we will be investigating the gap between graduate education and the needs of the employer. Often we find that the university curriculum does not line up with what the employers are looking for and this is a gap that ABM would like to help address. The most important thing in maintaining the motivation of the graduate is to ensure there are jobs available to them upon completion of their course. We hear media stories of five unskilled positions being offered by an employer that receives 500 applications, with many of them from university graduates. One presumes this means that they are unable to find a job commensurate with their degree yet there are jobs available that would benefit from their skills. Why the mis-match?

We spoke to Amanda Menahem, the HR Director of the largest employer in Sussex, Hastings Direct Insurance, in an attempt to understand the problem.

We are constantly recruiting; growing by circa 200 jobs every year and l currently have over 300 positions available but must admit that we do have trouble filling some of these roles with the right people. Many of them are specialist professional roles in finance, IT, marketing and commercial. We also seek analytical and data skills such as maths, statistics and engineering because these disciplines are great for roles in our pricing, underwriting and actuarial functions.

These disciplines and skills are hard to find in Sussex and while we often seek those with experience, we need to start working with ‘raw material’ by working with the students and graduates early on that have the potential to take on these roles. I fully understand that our region loses many of its most talented graduates to London, with the thought that they will secure the highest salary, however, this is not true. Many of the roles available with Hastings Direct are at a package level on a par with London without the hassle and high cost of having to travel there every day. Of course, as a business that’s big enough to command attention but still small enough to make a difference, you can really stand out and forge a career in a way that’s more difficult

in some of the big London firms.

As for our ‘bulk’ recruitment – the majority of our customer facing roles are actually highly skilled; requiring the ability to become insurance ‘experts’, with some IT and technical skills and, of course, great customer service skills. Not only this, but to progress – which is something we want and need as a business to fill future pipeline roles, employees need to demonstrate a number of qualities. For example, the drive to continuously learn and adapt, to improve what we do, to make things happen, be accountable and drive their own destiny rather than waiting for opportunities to land in their laps. To what extent is this taught in education?

We have grown so fast and so we still lack sufficient leadership skills and if we don’t address this the gap will grow.

And yet graduates often lack the ‘life’ skills which enable them to go on to be successful leaders.Turning to the harder business skills, we often find we lack project management and problem solving skills and also the ability to deal with ambiguity (and turn it into outcomes and actions). I know that students undertake project work but l wonder how aligned the learning is to what businesses need? Are they taught the broader PM skills and how these might apply in the workplace?

Perhaps even more importantly are the people/social skills required to be successful. Those that do well, and what we find harder to find, are those that possess emotional intelligence; empathy, awareness of personal impact on others, influencing skills, the ability to ‘bring people with them’ – these are the skills that are critical in being successful in any business and yet these are rarely the focus in academia.

In turn, we also need universities to tell us about the ways in which we can meet the needs of graduates more effectively – whether it be work-life balance, oppor tunities to under take fur ther study, work place flexibility, work place environment. Help us to help the students be successful with us.

AMANDA MENAHEM HR Director, Hastings Direct Insurance

I think more needs to be done to prepare the students for work and l am delighted to join ABM in their quest to identify the problems and would greatly value the opportunity to fully discuss this with the universities.

I think that Sussex produces some fine graduates (indeed I was one of them!) with great potential but there is more that can be done to ease their path to work and l look forward to getting involved in the campaign.

- Human|Resources -

April/May 2014 │65

HOW TO PREPARE FOR CHANGE…

By Keith Jackman, Marketing Director, Lookers Mercedes-Benz Managing fleet operating costs is vital; luckily there are several things that can be put into place to make sure your fleet is as cost effective as possible for your business WHAT CAN WE DO TO CUT FLEET COSTS? There’s one simple rule to follow which will guide you in the right direction for cutting costs in your fleet operation; low emission vehicles.

Benefiting from low emission, fleets come in all shapes and sizes:

2014 Product portfolio CO2 Benchmark in the premium segment 81kW

81kW

101kW

101kW

125kW

150+20kW

150kW

190kW

A 180 CDI

B 180 CDI

CLA 200 CDI

GLA 200 CDI

C 220

E 300

ML 250

S 350

ECO SE (manual)

ECO SE (manual)

Sport (manual)

SE (manual)

BlueTEC SE (manual)

BlueTEC Hybrid SE (automatic)

BlueTEC SE (automatic)

BlueTEC SE Line (automatic)

92g/km

98g/km

117g/km

119g/km

103g/km

109g/km

160g/km

A3 2.0 TDI (100kW) Q3 2.0 TDI (103kW) A4 2.0 TDI ultraUNDERSTANDING (120kW) A6 2.0 TDI Ultra (140kW) Cayenne Diesel (180kW) OPERATIONAL COSTS g/km g/km g/km g/km g/km g/km With taxation 99 favouring lower-emitting vehicles the principle is straightforward 121 107 137 109 114 189g/km Once you have tackled the future – the less CO2 your vehicle emits, the less you will be paying on tax and, with development of vehicle taxation for the rules set to get tighter, it's time to look at how cost effective your fleet is. your fleet, the operational issues can 525d (160kW) 116d ED (86kW) C-Max 1.6TDCi (85kW) 218d (105kW) 320d (120kW) X5 25dxdrive (160kW) X1 18d (107kW) be taken on.

One advantage tog/km businesses with g/km a low emission fleet, is being able to claim 99 117 119g/km 128g/km 109g/km 123g/km 155g/km tax relief against depreciation in relation to the CO2 emissions of your vehicle.

Understanding the likely whole-life For example, those emitting over 110g/km and up and including 160g/km of operational costs of a vehicle over CO2 are eligible for a 20% write-down allowance compared to those of a government fuel consumption figures in mpg (litres per 100km) for the Mercedes-Benz range: urban 13.0(21.7)-67.3(4.2), extra urban 23.9(11.8)-88.3(3.2), a typical fleet life-cycle can result higherOfficial emitting CO2 can now only claim 10% each year.

For us here at Lookers combined 19.8(14.3)-78.5(3.6). CO2 emissions 334-92 g/km. Official EU-regulated test data are provided for comparison purposes and actual performance will depend on driving style, road conditions and other non-technical factors. Images used for illustrative purposes only. Correct at time of print 03.14. in huge savings for your company.

Mercedes-Benz we can take advantage of the higher write-down and in some Whole-life costs should include fuel circumstances can claim the available 100% write-down allowance for those costs servicing, maintenance repair cars emitting 110g/km or less, like our smart cars and many of our popular costs, tyre costs and residual values.

A-Class, B-Class, C-Class and E-Class models.

CUT DOWN ON TAX A3 1.6 TDI (77kW) Touran 1.6 TDI (77kW)

The same emission-based philosophy is applied to Capital Allowances, according to the experts, penalty relief coming from the old price-based capital allowance regime and the new CO2-based system mentioned above, which could be as much as £2,000 for those heavy polluters!

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Company cars are usually based on a three year life-cycle covering 60,000 miles. Whole-life costs are expressed in pence per-mile

- Fleet Management -

146g/km

‘Understanding 155g/km the likely whole-life operational g/km costs148 of a vehicle over a typical fleet life-cycle can result in huge savings for your company.’

A8 3.0 TDI Quattro (184kW)

730d (180kW)

terms per-vehicle, rounded up to a total cost over the vehicles life cycle. Using these costs give you a benchmark for your selection and can guide you in making the right choice of vehicles for your fleet.

fleet. If you are unfortunate enough for an accident to occur we can appreciate that the quicker the driver and your vehicle returns to the road the more cost effective it is for your company.

Mercedes-Benz is synonymous with automotive excellence. Our award winning vehicles combine performance with class-leading luxury as well as outstanding levels of safety and environmental credentials, offering exceptional whole-life costs and excellent writedown values.

PREVENTING RISKS

Looking into accident history may reveal accident rate patterns and could open your eyes to mistakes drivers make time and time again.

For example, statistics show high incident rates in company car parks. With the knowledge of this information you can now put into place certain procedures to reduce the likelihood of these accidents happening in future.

Costs to your fleet are sometimes unavoidable and sadly sometimes accidents do happen, mostly small but unfortunately there are occasions where these accidents are larger and can cost your companies a lot of money.

The key here, as obvious as it may be, is to minimise risk within your

When accidents do occur dealing with third parties, organising repairs, replacement cars and of course insurance can take up your valuable time, which of course equates to money lost. To make this as easy as possible and to ensure you save as much money as possible, Lookers

‘Using these costs give you a benchmark for your selection and can guide you in making the right choice of vehicles for your fleet.’

- Fleet Management -

Mercedes-Benz work with Helphire to ensure you are back on the road as quickly and effortlessly as possible. If you are involved in a non fault accident Helphire will supply you with a like-for-like courtesy car, deal with your insurance claims and ensure your vehicle is looked after and back to you in next to no time.

IN SUMMARY… Evaluating your fleet can prove that savings can be made right across the board with a little diligence and care, from day-to-day maintenance through to top-line strategy and in most cases no drastic measures are needed. There is no need for a revolution to make a big financial impact, just some careful analysis of your fleet operation and often small adjustments which can all create significant savings for your company.

Contact Mercedes-Benz of Brighton, Gatwick, Eastbourne and Tonbridge at 0844 659 7503

April/May 2014 │67

JAGUAR F TYPE REVIEW

THE POINTY CAR According to my children, the Jaguar F Type has a new name – the pointy car. You will be asking what on earth they are talking about as did l, however, it all made sense when l dropped them off at school. All the boys were pointing at the car. In fact, this is something that you would need to get used to if you purchase one, as it gets pointed at and crowded around and on more than one occasion, l had to ask chaps with cameras to move so that l could get in the damn thing!

So, after much hoopla, l finally get my hands on the long awaited and much talked about F Type – the so called follow up to the historic and much loved E Type. I would quite like to go against the flow and tell you that they are all talking rot and that, in fact, this is not a very good car. But alas, l cannot. It is breathtaking in looks, performance, road holding and sheer style.

TECHNICAL STUFF Engine: 2,995 V6 Supercharged Power: 375 bhp Performance: 0-60mph 4.8 seconds Top Speed: 171mph Economy: Combined 31 mpg Price: From £58,520. As tested £79,230

68│ April/may 2014

- Motoring|review -

Motoring Editor – Maarten Hoffmann

I was sent the 3 litre V6S which was at first a bit of a disappointment as l was hoping for the V8. Thank God they didn’t send me the V8 or l would be an ex-motoring editor, as without my licence l am not of much use to man or beast and hanging onto your licence is the biggest problem with this car. It is very difficult to believe that this is ‘only’ a 3 litre engine producing 375bhp, as it goes like the clappers and seems to have endless torque all the way through the power band. The supercharger helps of course and the 8 speed quick shift will never be the subject of a misrepresentation lawsuit as it is well, quick. Acceleration to 60mph is 4.8 seconds and with a top speed of 171mph, the 3 litre really is all you will ever need. I would suggest the V8 is for those that hate their licence or MP’s with compliant wives who agree to point share!

Please forgive my Neanderthal tendencies but one of my favourite features is the exhaust button that allows you to select the tone of the exhaust. I found it, set it to very bloody loud and then snapped the switch off so that it could never be reset. The noise is gorgeous and l was to be seen driving anywhere that had a tunnel en route. Although the auto mode works away unnoticed and the flappy paddles do their job, oh how I yearn for the day when one forward looking but retro minded top manufacturer goes back to a gearstick. And, if there is any car today that deserves a good old fashioned gearstick, this is it. In addition to my favourite button, via the Dynamic Drive system, you can also set tweak the steering, throttle and gear changes speeds all via a touch screen.

The handling, ride and steering are easily as rewarding as its closest rival, the Porsche 911, but there is a flair to all of it that is uniquely Jaguar.

The steering is eerily accurate and precise and those with Parkinson’s need not apply, as it responds to your every twitch. Corners are taken with supreme confidence as Ian, the Absolute Business Editor, found out when we took the road over Beachy Head. Well not over Beachy Head but that winding, undulating road with the switch backs at the top that really shows off the poise

and planted feel of this hairy chested gem and as hard as l tried, l could not reach its grip limit. And as hard as l tried, l couldn’t remove the embarrassing stain on Ian’s seat either!

The F Type is designed by Ian Callum and you will not be surprised to learn that his hand was all over the design of the Aston Martin DB7.

The all-aluminium body is curvy and eminently lickable and the nose is a work of art. The power hood does not have the usual flip up cover but folds away to become its own cover, quite clever if you are trying to save weight. The flip out door handles are not to my taste but the resulting streamline effect is worth it. Boarding is not so much sitting down as slithering across the threshold and dropping into launch control with the bonnet somewhere off in the distance, growling and waiting to be unleashed. The Jaguar push button gear selector has been replaced with a joystick from a Nintendo game with a trigger to ease transition and as funky as it is, it is not easy to use fast and too easily encourages your hand to slip off. The cockpit is sumptuous with balletic pop up air vents and let there be no doubt who this car is designed for – the driver.

A nice, if slightly terrifying, place to be for the passenger but the driver gets the reward, even down to the barricading grab bar that demarcates the passenger’s limits. For the price, there are a few bits of cheap Jaguar

‘There is a button that makes the exhaust louder - i found it and ripped it off so that it could never be reset and then searched out the nearest tunnel..’

- Motoring|review -

switchgear that we have seen in the XKRS such as the indicator stalk and the boot release and, although nothing more than annoying, l don’t want to be annoyed at all for £79,230.00. There is also a padded extension from the headrest that was uncomfortable between my should blades and little adjustment l could make to get rid of it and while l am moaning, the boot is big enough to take, well, a boot!

Not two mind, just a boot!

But away with the moaning and a summary of the car that Jaguar literally bet the farm on. Their reputation as a maker of top spor ts cars was on the line and a collective sigh from us all that they have pulled it off, with gusto.

I thought they had done it with the XKRS but the F Type was the icing on an already very impressive cake. And the mark of this success – sales last September were up by 35% and overall they sold 312,834 cars in only 9 months. The F Type cherry sits atop the cake with a solid reputation for being furiously fast, well planted, well-built and above all else – great fun.

The best spor ts car to come out of Britain for a very long time – and now there is a hard top version which gives me yet another reason to review the F Type, although Simon Cowell has just purchased one, so maybe not!

April/May 2014 │69

A REPORT FROM THE GENEVA MOTOR SHOW It is that season again when the world’s motor manufacturers get set to reveal their wares, complete with flashing lights, motorised turntables and, for some archaic reason, girls draped across the bonnets. Now it strikes me that the only reason you need a beautiful girl splayed across your new car is because that new car is ugly and needs improving. If the car is a stunner, then l don’t need a mannequin getting in the way.

I defy you to look at this image of the stunning new Alfa Romeo 4c and not to scream – ‘get that woman out of the bloody way’!

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MOST BEAuTiFul This has to be the Maserati Alfieri with lines to die for. The only problem is that it’s a Maserati!

Stylish as they are, they never quite caught the technological train when it left the station in the early nineties and although there are some great designs, there is little else to tempt you to buy one, unless you just want to stare at it, stroke it and occasionally lick it.

- Motoring|review -

UglIest

I had to give very little thought to this one – the new Bentley SUV – there’s two words l never thought l would say in the same sentence!! The shock l felt when l first saw the EXP 9F concept model was soothed by the thought that they would make so many changes before it went into production that it would be unrecognisable.

But no – it would appear that this is the actual model that will go on sale in 2016 and it has already received 2000 pre-orders without the buyers having seen it. I have very little doubt that the car will be up to Bentley’s normal high standards but only if you can get over its looks – it honestly looks like the sort of car l would doodle as a kid, whilst dreaming of being a car designer before realising that car designers are hugely talented and l was not.

“I had a lovely time surrounded by shiny new metal and ordering up my review cars for the coming year.”

Motoring Editor – Maarten Hoffmann

Best ConCept Kia keep producing good solid road cars and their concept cars are great but as long as they have hard plastic interiors and bland handling, they will remain stunning concepts. Ignore the orange paintjob and this car is seriously good looking.

- Motoring|review -

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Least Changed This title has to go to Audi for their new TT. Although often derided as a hairdressers car, l do feel this is a tad harsh as it has always been a very competent machine. It looks good, drives like it’s on rails and if you pick up the 3.2 litre engine, goes like stink and although it wins the title of least changed, I think it looks fantastic.

BIggest POtentIaL

strangest

Jaguar are capitalising on their remarkable success since the Indian Tata company got hold of it and are planning a mid-size mass appeal car called the XE. I have reviewed just about every one of their cars over the past two years, with the new ZF Sportbrake coming next week, and if these models are anything to go by, the XE will be a huge success and will sell by the bucket load. I have rediscovered my love of Jaguar and if they price it right, the XE will start to trouble Stuttgart. A case of ‘you’ve tried the cowboys, now try the Indians’.

This oddball from VW is called the XL1 and looks like something out of Joe 90.

Into production? I think not.

MOst BOrIng This was a battle as there were quite a few dullards on show but the Suzuki Celerio has to take the title.

Pensioners will most likely love it but please...

72│ April/May 2014

- Motoring|review -

I want It

Lamborghini have produced a new model entitled the Huracan and how can you not salivate over this little gem?

Totally impractical, hugely expensive and totally bonkers but hey, what’s not to like? The only trouble with Lambo’s is that they all start to look the same after a while. Still, they can be comforted by the fact that according to the Chancellor, every pensioner in the country will soon be ordering one.

Most IntrIguIng Mercedes top of the range S Class has a new brother. The S Class Coupe has arrived and not only does it look great but knowing the S Class as l do, it will most likely be an absolute corker and at last, not designed to be chauffeur driven. It is on my review list and l will let you know if l am right.

I want It too The only truly British car left on the planet is built in Surrey with an engine made in Sussex, at the end of Shoreham airport. The new McLaren 650S is beautiful and will do 0-124mph in 8.4 seconds. They haven’t announced the price yet but you can expect a figure well north of £1 million but you could also be assured that if you were lucky enough to get your hands on one, you could sell it for double within a day. I want it.

outstandIng Idea VW have produced an all-wheel drive van!

The Multivan Alltrack is long overdue when you consider that so many vans spend their time on muddy building sites laden with a ton or two of payload, so why not make them 4 wheel drive. Good idea.

So, there you have it – the Geneva Motor Show at a glance. I must say, l had a lovely time surrounded by shiny new metal and ordering up my review cars for the coming year. I was wined and dined at the superb Quai Turrettina on the River Driote, stayed at the 5-star Hotel Kempinski and was offered a vast and mouthwatering array of cars to rip around the Swiss countryside. It is indeed tough being a Motoring Editor dear readers and l can sense you groan with agreement that this is a pretty tough gig. Therefore, l fully expect letters of condolences and if you feel the need to start a benefit fund for me, l will reluctantly agree. Smug, moi?

- Motoring|review -

April/MAy 2014

│73

Friendly with Food

Peter James dines at the Crabtree in Lower beeding Anyone who ever ate at the top of the Post Office Tower in London, when it first opened, might have agreed with that old adage about restaurants, the better the view, the worse the food.

And yes, I think this might have been true thirty years ago, but I’m not sure I agree any more. I’ve eaten in plenty of fine restaurants with glorious views, including this month again in Brighton’s fabulous GB1 at The Grand, with its stunning seafront view. I took Ellen, widow of wonderful journalist broadcaster Derek Jameson, who is as sophisticated and as well travelled as it gets and she loved it.

Back in November, I was at Sky 57 in Singapore, one of the best restaurants I’ve ever eaten in, with the best waiter ever and a view to die for. And just last week I sat at the Top Of The World on the 107th floor of the Stratosphere in Las Vegas – not a restaurant I had high hopes for, other than the fact that it was very high indeed, and that we were distracted as we waited to order by a steady stream of people jumping past our window. Was it after getting the bill, I wondered?

Then the waiter told me they were bungee jumping, which made it all a bit less exciting… That was until the sommelier arrived - simply one of the best, most charming, most urbane, knowledgeable and least pushy members of his elite profession ever.

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The food was seriously good too, but I remember it only in a distance haze of fine wine as we steadily revolved around the horizon. Or was it the other way around?

The French Riviera has its share of great restaurants with magnificent views, and few finer that the terrace of the Eden Roc perched above the Mediterranean at the Hotel du Cap in Antibes – one of the world’s most beautiful hotels – it is elegance personified, although for me always tinged with the dark shadow that it served, allegedly, as an HQ to the SS during the war.

By the international best-selling author Peter James

‘It is where, apparently, French bard Hilaire Belloc, who rightly fell in love with Sussex, liked to drink.’

This month’s restaurant,The Crabtree, has a rather different kind of view – It faces, across a busy main road, the grounds of South Lodge, one of Sussex’s most glorious country house hotels, and which contains two very fine restaurants. Yet far from being outshone by its grand neighbour, the Crabtree has a fine pedigree of its own. It is where, apparently French bard Hilaire Belloc, who rightly fell in love with Sussex, liked to drink.

Formerly owned in more recent years by Jeremy Ashpool, in my view the finest chef in Sussex, who now runs the superb, eponymous, Jeremy’s at Borde Hill. Its more recent management, after a long period in the wilderness, includes family of Simon Adamson Hope, founder

- Restaurant|review -

of Food For Friends, Brighton’s first truly inventive and pioneering vegetarian restaurant and food emporium. But although there are good vegetarian dishes on the menu, fish, fowl and red-blooded carnivores are extremely well served.

Externally, the Crabtree is what it has always been, a rather nondescript looking country pub, that would be easy to pass by. But then you’d be missing a treat. Inside, despite a warren of smallish rooms, there is a light, airy, modern feeling, helped by uncluttered décor, and a relaxed atmosphere fostered by the extremely charming, young, professional staff. One look around on a recent Sunday visit – I’ve been a few times now – confirmed what I was sure was going to happen under its inspired new team – this is not a place where people stop for fuel en route to somewhere, it is a proper destination itself.

Inventive starters include braised chicken wings with crispy quail egg, scallop ceviche, cured salmon, a glorious spin on the current beetroot and goat’s cheese fad – a perfectly judged leek, beetroot, goat’s cheese and celeriac terrine, and oysters – deliciously sweet Carlingford’s. These bivalves are back in fashion with a vengeance in restaurants around the world now, and as a fan, I’m delighted.

High protein, low sugar and fat, for

‘We were distracted as we waited to order by a steady stream of people jumping past our window.’

far too long they have been shunned by people terrified of shellfish poisoning, or revolted by the very idea of them slipping down.

Yet, in the middle ages, because they were so cheap and plentiful, they were a staple diet of monks, and in Victorian times they would be used to bulk out the protein in Steak and Kidney puddings. The best way to avoid poisoning is to sniff each one – and savour the amazing scents.

If it smells nasty it is off – and I’ve been served one like that in one of Toronto’s finest hotels a year ago – luckily I spotted it, resulting in a very chastised chef. (Cooked oysters is a safe way – and I defy anyone who loves food not to love Oysters Rockefeller, made with béchamel sauce and spinach, or Kilpatrick, with bacon, done masterfully at English’s).

Among the stellar mains is a giant couscous filled grilled pepper and pomegranate parcel, a superbly moreish shitake mushroom and root vegetable suet pudding, smoked haddock, blackened South Coast cod (nice to know its provenance, but I’m not convinced it tastes any different to North Sea cod or Icelandic cod, or the cod I ate in Las Vegas last week that had been line caught out in the Atlantic by a fisherman called Dan) corn fed chicken, slow cooked lamb loin and dry aged rib steak served with proper hand-cut chips.

Desserts are equally up to muster, and the wine list is quite superb both in its choices and very reasonable mark-ups. I especially liked to see such a wide range of wines by the glass – and different glass sizes.

There are set lunch deals and a set Sunday, and on a la carte, starters range from a very reasonable £6£8.00, mains equally from £12.50-£20.

It was Hilaire Belloc who wrote those immortal words that I love to read out at special birthday gatherings: From quiet homes and first beginnings, out to the undiscovered ends, Nothing’s worth the wear of winning, save laughter and the love of friends.

You’ll hear a lot of laughter in the Crabtree and you’ll feel a lot of love of friends.

www.crabtreesussex.co.uk

International best-selling author, Peter James, is our independent restaurant reviewer. The reviews are 100% impartial and free from advertising.

In fact, he doesn’t even tell us which restaurants he is going to review!

- Restaurant|review -

April/May 2014 │75

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Working capital As well as being an important win for Spirotech, the size of the order also brought challenges. The gap between funding manufacture costs and receiving payment for the finished products would put significant pressure on working capital. This is where NatWest was able to help.

As Sanjay Vallabh, International Manager, Transaction Services (UK) explains, “We were able to sit down with Spirotech and build a detailed understanding of the contract terms, work with them to produce cashflows and identify payment timings, then structure a loan around their needs”.

Trade expertise As well as providing a £1.5m working capital loan, Sanjay and NatWest Relationship Manager Mike Cartwright were on hand at every stage of the process. NatWest’s detailed knowledge of the UK Government support schemes helped Spirotech

to successfully apply for the Export Credit Guarantee Department’s Export Working Capital Scheme.

As Spirotech was to be paid by its customer through a Letter of Credit (L/C), the NatWest team was also able to call on the Bank’s trade expertise to ensure that the terms of the L/C were fair and that Spirotech met all the administrative requirements in order to receive payments on time. This meant identifying any necessary amendments to the L/C and checking that the correct documents were presented against it to release the funds.

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Premier in Racing Davina Wells has checked out of the hotel industry to take over the reins at Brighton Racecourse Interview by Ian Trevett

ABM: Can you tell us a little bit about

your background and how you became the Executive Director at the course?

DW: I was working for Whitbread

in their Premier Inn Hotel chain. I was there for nearly ten years but moved around quite a lot, in Sussex and Hampshire. Prior to that I was in retail sales so I was very much in an environment with peaks and troughs, where you had the buzz of a really busy day. Premier Inn is quite a steady business and after time I realised I probably needed to explore something different. I was approached by an agency for the position at Brighton racecourse and I thought, although it’s something very different from what I had been doing, there are a lot of skills that are transferable. It is still about people, still about the team, the customer and sales. Which is all an aspect of what I was doing before, just that now I am at a racecourse.

ABM: Was your lack of racing knowledge an obstacle?

DW: I have been racing but not hugely

regularly and very much from a social aspect rather than understanding the detail. So, there has been a steep learning curve. I have been supported by the company really well with the induction and lots of different introductions to racing and I’m learning every day. I pick up quite 78│

April/May 2014

a lot just by reading the Racing Post everyday and watching Channel 4 racing and At the Races. It’s just a case of trying to pick up as much as I can about the industry. But the expectations haven’t been for me to become a specialist. People that have been in this industry for a very long time; for me to try to pick up and match their knowledge would simply be unrealistic.

ABM: Do you think it was a deliberate

policy to find someone who was from a commercial background?

‘I have a lot of experience in building a reputation and creating advocates for a business or a brand.’

DW: I think they would have been open to either. There are people from all kinds of backgrounds, some very much from a racing background and some from a more hospitality or leisure background, as I am. So, I think they are open to either and see the benefits of both.

ABM: What do you think you can bring to the role?

DW: I have a lot of experience in

building a reputation and creating advocates for a business or brand.

When I began at Premier Inn there were 50 hotels, when I left it was 650 hotels so it has obviously gone through a lot of growth. You get the brand awareness from a big company but starting out, it wasn’t so well known. It was a case of understanding who is coming and why.This has given - Business|Interview -

me real strength in looking at how I can create as many advocates to the racecourse as possible, especially on a local level. There are a lot of people that live locally who never come to the course, so there is a lot I need to do about that. Once they have been, we need to ensure that they have an amazing time so they recommend us to other people, and returning themselves to our other race meetings.

ABM: I assume you are looking for people that aren’t necessarily racing enthusiasts as the race-goers will come anyways?

DW: Racing enthusiasts will support us all the time. They are the ones that support us even when the weather is awful; they will be here supporting racing. But we need to supplement this with leisure guests and the leisure pounds are hard to fight for. There are a lot of choices and people can’t afford to do everything. You need to try to make sure you have got the best possible product and that people can understand what you offer. For example, children can come racing as a cost effective family day out.

My other strength is understanding what the customer wants, taking the trouble of trying to get feedback rather than making assumptions. I can create a really strong team with one clear purpose, one clear goal of

Davina Wells

what we are all here to do regardless of our different specialities and what actual responsibilities we might have.

ABM: In which area do you see the most scope for improvement?

DW: Social events. Weddings, parties, celebrations... Private bookings are probably where we need to focus, so people just don’t see it as a place to come racing. We want them to think that, actually, it’s a good venue and you don’t have the troubles of getting all the way in to town.

There’s free parking; it’s quite easily accessible. Actually the racecourse might be a great place to hold a wedding party or a birthday party.

So, I think we really need to drive that as well and our awareness around that.

this part of your strategy to get to know the local business community?

DW: I said to Samantha Bailey, the

Commercial Director, that I need to get to know people in Brighton.

Before I knew it I had volunteered to dance in front of 600 people. This could be my 15 minutes of fame! The trouble is I don’t know what I will have to do next. It will probably have to be a skydive or something similar.

ABM: What do you see as your target in the first year?

DW: I would like to do an excellent

We also need to drive business events. We had the Care Awards Conference just a couple of days ago, with over 500 people visiting. It is an excellent conference venue.

job at increasing the footfall and admissions into the racecourse and get recognised in the industry. I would like to get to a point where people are leaving and re-booking at the same time. I want to develop advocates for the racecourse so we are not having to look for that new business all the time. I want to build loyal repeat business that we can nurture and work really closely with.

ABM: You have signed up to take

ABM: Finally, what tips would you give

part in a dancing competition at the Rockinghorse Mid-Summer Ball. Is

‘if you get an opportunity to do extra, do more.

Demonstrate that you are not only efficient of achieving your current role and responsibilities but actually you can do more beyond that.’

DW: It’s about seizing opportunities that present themselves to you. I have had opportunities for promotion because I had already demonstrated that I had the ability as I had already been working beyond the role that I was in. So, if you get an opportunity to do extra, do more. Demonstrate that you are not only efficient at achieving your current role and responsibilities but actually you can perform beyond that. People will see it as less of a risk to promote you because they have already seen and heard about what you can do.

Be really open-minded about who you can learn from, whether that is colleagues, line managers, your team. You can learn a lot and get some really good ideas. Try to get to know your business backwards.

Understand the market place and who your customer is. Find out why they come and then you can go and try to find more customers like the ones you currently have. www.brighton-racecourse.co.uk

to someone starting out in business?

- Business|Interview -

April/May 2014 │79

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COMING NEXT ISSUE We intervieW richard Branson exclusively for aBM

ADVICE PANEL our team of top experts will respond to your questions.

POLITICS We invite politicians from the main parties to state their case on regional matters that matter.

FEATURE We look at the plight of graduates and their search for work and ask if more can be done to align the employers' expectations with the graduates' skill sets.

If you would like to involved with any of these forthcoming features or join our unique Founding Partnership scheme, please contact Maarten Hoffmann on info@absolutebusinessmagazine@gmail.com If you would like to advertise in any forthcoming issue, please contact Ian Trevett on ian.trevett@absolutemagazine.co.uk.

Next Issue out in June

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QUARTERLY ECONOMIC SURVEY Q4 2013 The British Chambers of Commerce’s Q4 2013 Quarterly Economic Survey (QES) results are positive and point to continued economic growth in the short term.

7,992 businesses responded to the survey during the period 10 November to 1 December 2013. _____________________________________________________________

1 9 8 9 to 2 0 1 3

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+ represents an expansion - represents a contraction represents the change on the previous quarter.

Domestic Sales Growth in manufacturing domestic sales slows slightly but the balance is still near an all time high

Export Sales Export sales increase for the service sector and remain steady for manufacturing

6 pts

Services

2 pts

to +38%

Manufacturing

2 pts

no change

to +36%

Manufacturing

Confidence - Turnover Firms in both sectors are more confident that turnover will increase

Services

Manufacturing

to +36% Services

+35%

Confidence - Profitability Firms in both sectors are more confident that profitability will increase

6 pts

2 pts

to +60%

to +45%

Services

1 pt

to +67%

5 pts

Manufacturing

to +51%

Employment Expectations Firms in both sectors expect to take on more staff over the next three months

1 pt

Services

Manufacturing

to +27%

2 pts to +31%

Find out more at www.britishchambers.org.uk or contact the BCC at +44 (0)20 7654 5800 Be part of Britain’s biggest and most influential business survey: #joinyourchamber

Are you feeling confident?

S O L I C I TO R S A N D N OTA R I ES

Asks Wendy Bell, General Manager of Sussex Enterprise You may’ve heard on the radio the British Chambers of Commerce (BCC) say “Business Confidence has increased by 2%” and then the programme will often go on to discuss some of the reasons why this is but have you (like me) wondered how the BCC know that this is what businesses are feeling?

The answer is simple! The Quarterly Economic Survey is collated (see infographic on the left); spookily enough; every quarter by Accredited Chambers of Commerce up and down the country, where we ask all our members to get involved and have their say. It’s been running for 24 years now and is an invaluable tool, providing a real barometer of business’ views across Britain. Your views are important so if you’d like to be part of Britain’s biggest and most influential business survey then contact: mark.tilley@sussexenterprise.co.uk Sussex Enterprise are taking this one step further this year and we’re delighted to announce the formation of Policy Committees in local areas. Working with town chambers and our Premier Members we are looking to really get to grips with the issues that businesses face daily; as part of the British Chambers of Commerce we are able to feed your views directly to Westminster.

The businesses of Sussex contribute massively to the economy of the UK and we believe that you have a right to be heard! We are looking for volunteers who have something to say about business so do get in touch if you’d like to be involved.

The Law. Good to know you have grand masters on your side.

www.bennett-griffin.co.uk Become a member and join the debate call today on 0845 37 595 50

We believe that effective networking is all about relationship building in a relaxed and informal environment and The Platinum Club provides the ideal platform for companies both large and small, to come together for an enjoyable evening in the luxurious surroundings of The Grand Hotel Brighton.

“ ”

Don’t just take our word for it, here is what some of our club member’s have to say

Let me tell you that the Platinum Club “ is no ordinary networking club. For anyone who is tired of run-of-the-mill networking events I would suggest you try the Platinum Club.

John Healy – Healy’s LLP

”

I would recommend the Platinum Club “ as a fantastic way to meet new contacts in a relaxed evening of networking with a great location! Good spread of Companies and make you feel at home!

Tony Rice – Coulsdon Audi

”

The Platinum Club is all that I expect from a networking club, “ informal, full of interesting people and well run. I look forward to each meeting and have found that I have made new friends and met new clients.

Richard Kendall Tobias - Blue Diamond Security

”

“

We have recently become members of The Platinum Club where we have met great people and even gained new clients already. I would highly recommend The Platinum Club if you are looking to meet new businesses, in a relaxed and friendly environment.

Becky Sharp – Harvey John Recruitment

”

The Platinum Club is undoubtedly one “ of the most prestigious networking groups I have attended. The meetings are vibrant and positive and we leave the events with a spring in our step, pleased we made the Denise Buchan – commitment to attend.

Classic Consulting

”

Platinum events are always so well “ organised and attended by the right people.” Keith Jackman – Mercedes-Benz

Call: 07966 244046 • e-mail: info@theplatinumclubbrighton.co.uk • web: www.theplatinumclubbrighton.co.uk

It’s all about the food

If the law is an ass

Says Julia Chanteray, president of Brighton and Hove Chamber of Commerce You might have noticed something about all the networking events we run at Brighton and Hove Chamber of Commerce.

A little thing they all have in common.

It’s all about the food.

One of the best decisions we ever made was to hold our breakfasts at Carluccio’s. At most breakfast networking events, the food is pretty terrible. That’s okay, because you’re not there for a delicious breakfast, you’re there for the networking. Or is it? We think that our networking meetings are the best in town and, in part, that’s because we care about the food. Our members appreciate that they can get a tasty healthy alternative at Carluccio’s or go for their fancy Italian version of a fry-up. That must be why everyone leaves the breakfast events with a spring in their step, all ready to attack their desks.

Actually, the attacking the desk bit might be the Carluccio’s coffee and the free refills but I’m sure that the yummy breakfast helps as well.

And of course, there’s our Business in the City lunch at Drakes Hotel. I’m sure that there’s a lot of business going on at that lunch but, if you’re going to go networking, you might as well eat a delicious three course meal at the same time. Especially when it’s at one of the best restaurants in the city, and it’s tax deductible.

There’s only coffee and biscuits at our Bite Size Learning sessions.

But we’re lucky enough to have them sponsored by the Sussex Cricket Ground, which, you might be surprised to learn, have a brilliant catering team to look after us. Even the biscuits are scrumptious.

And then there’s the slightly strange food. Once a quarter, we run a brunch at Terre a Terre. It’s pretty much the same as the breakfast, but it’s good for people who either don’t like to get up too early, or the people who have been up since dawn taking the children to school. I’ll let you into a secret. Try the tofu. The guys at Terre a Terre put in some secret ingredient and it tastes amazing.

If all of this is making you feel a bit peckish, then head over to www.businessinbrighton.org.uk and book yourself a little snack. You might want to have some networking with that.

Julia Chanteray runs the business advice consultancy, the Joy of Business, and is the President of Brighton and Hove Chamber of Commerce.

To kick some you’ll need a good lawyer

S O L I C I TO R S A N D N OTA R I ES

01903 229999

www.bennett-griffin.co.uk

The Business Network Emma Pearce’s guide on where to network

Part Two. West Sussex.

WEST SUSSEX: County and National organisations Basepoint Networking Hub

For Basepoint locations in the South go to www.basepoint.co.uk/locations

BNI

Sussex BNI chapters meet weekly – typically breakfast, but some now meet at lunchtime www.bnisussex.co.uk

Chambers: Billingshurst Chamber – www.billingshurstchamber. co.uk. Chamber meetings, plus

BilliBusiness Lunch Club and annual exhibition - BilliBiz – The Show www.billibiztheshow.co.uk

Chichester Chamber - www.chichestercci.org.uk Crawley & Gatwick Chamber - www.crawleychamber.co.uk Haywards Heath and District Business Association – Monthly networking drinks and other events. hhdba.com Horsham Chamber - hcci.horsham.co.uk Steyning and District Business Chamber - www.steyningchamber.co.uk Worthing and Adur Chamber - www.worthingandadurchamber.co.uk

Fabulous Women

(Men are welcome) Groups operate in a number of counties in the South. In Sussex, to date (November 2013), there are groups in Brighton, Hailsham and Crawley – see www.fabulous-women.co.uk

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First Friday Network

Some now on other Friday’s in the month! www.firstfriday-network. co.uk/meetings

FSB

Surrey and West Sussex Branch - www.fsb.org.uk

Lady Golfer Club

Golf and networking events for members and non-members on various golf courses. www.ladygolferclub.co.uk

Sussex Business Clubs

Open to the bosses of businesses with a turnover of £2m + with 10 staff +. www.sussexbusinessclubs.com

The Mumpreneurs Networking Club (Men and

women without children are welcome) Full list of locations - www.agoodgossip.co.uk

Local events Ashington Ashington Business Consortium www.abc-networking.co.uk/meetings. html

Chichester SCENE 4 Women – South Coast Enterprise Network Evening Boxgrove Village Hall, The Street, Boxgrove, Chichester, PO18 0EE Every 3rd Wednesday 7pm-9pm For local women in business, SCENE 4 Women is an informal and friendly networking group aimed at building those all important business relationships. www.scene4women.co.uk

Crawley Business Magnets Breakfast Networking Stepneys Café, Maidenbower Pavillion, Crawley, West Sussex, RH10 7HG Every other Tuesday morning at 8am Our format includes a ‘minute’ round to introduce your business and what type of clients you are looking for. We also provide the opportunity to get to know people via short ‘meetings’ www.business-magnets.co.uk

Horsham Business Builder Club 3 Kings Court, Horsham, West Sussex, RH13 5UR The events are designed for forward thinking, growth mode businesses to network in relaxed, sophisticated venues free from all the pressures and rules of the more formal networking organisations. You can be as active or as passive as you like, no pressure, just a friendly relaxed environment. www.businessbuilderclub.co.uk Horsham Business Club The Chapel, Graylands Estate, Langhurstwood Road, Horsham, RH12 4QD Horsham Business Club is an independent networking group, where you can meet like-minded individuals in a relaxed, inviting atmosphere. www.horshambusinessclub.com

Horsham Coworking Carmela’s Italian Restaurant, 3 Denne Road, Horsham, West Sussex, RH12 1JE Every other Wednesday between 10am and 4pm

- Business|Networking -

Emma Pearce www.pearcemarketing.co.uk Outsourced marketing service and social media training.

A friendly co-working meet-up for freelancers and home office workers in Horsham. Bring your laptop, work alongside others, chat and collaborate. It’s a new way of working! Free Wi-Fi. Free to attend. www.horshamdigital.co.uk

Sussex Women in Business – Horsham Various events. www.wib-sussex.co.uk

Hurstpierpoint Hurst Women in Business For women in business in and around Hurstpierpoint www.hurst-women-in-business.co.uk

Turners Hill Ladies R Us –Turners Hill Phone 07929048138 and email info@ladiesrus.co.uk .

West Chiltington Zest For Life Networking Group - West Chiltington First Thursday of the month. For professionals in the Health & Beauty.

Various locations – West Chiltington, Slinfold etc. zflgroup.biz/networking/

BECAUSE THERE’S A FOODIE IN EVERY TRAVELER. Amy's Restaurant is no ordinary airport hotel restaurant! This contemporary, chic and sophisticated restaurant offers an exceptional gastronomic experience which is fondly spoken of by travelers across the globe. The menu, which offers a la carte dining, is a celebration of delicious flavours, using only the highest quality ingredients and producing irresistible, perfectly balanced dishes. Amy's, which is open to nonresidents, is well known for its exemplary service and attention to detail.

Give your event that little bit extra, enjoy the bright, contemporary tones of our newly refurbished Amy's Restaurant. The perfect place to enjoy a friendly after event drinks or a formal meal with business clients.

It is extremely unlikely that your first visit will be the only one you make!

To book a table call +44 (0) 1293 518080 or email biju.pappachan@hilton.com

South Terminal, Gatwick Airport | West Sussex | RH6 0LL ©2014 Hilton Worldwide

T: +44 (0) 1293 518 080 | F: +44 (0) 1293 579 072 facebook.com/HiltonGatwick | twitter.com/HiltonGatwick

BUSINESS BY THE BOOK The Top Ten Best Selling Start-Up Books at Waterstones (as of April 1st)

1

The Easy Ebay Business Guide: The Story of One Person’s Success and a Step-by-Step Guide To Doing It Yourself (Paperback)

by Cathy Hayes This book not only tells the story of how the author went from being an eBay buyer to a Top Rated Platinum Powerseller but also provides the reader with a step-by-step guide to launching a successful eBay business.

2

E-Myth Revisited (Paperback)

by Michael E. Gerber Voted #1 business book

by Inc. 500 CEOs. Michael E. Gerber points out how common assumptions, expectations and even technical expertise can get in the way of running a successful business.

3

Understand Tax For Small Businesses: Teach Yourself (Paperback)

by Sarah Deekes Tax matters for small businesses because they must pay it correctly in order to stay legal and efficiently in order to stay competitive.

This book, written by a chartered accountant who has helped small businesses for twenty years, helps you to do both.

4

Start It Up: Why Running Your Own Business Is Easier Than You Think (Paperback)

by Luke Johnson From Pizza Express and Channel 4 to his incisive “Financial Times” column, Luke Johnson has spent two decades on the business frontline, amassing a personal fortune estimated at £120 million.

5

Start Your Own Business 2013: The Most Realistic and upto-date Guide to Starting a Business (Paperback) by startups.co.uk This edition includes the latest information on tax, VAT, support and legal regulations for budding entrepreneurs and small businesses, plus advice on taking advantage of today’s economic conditions.

6

The $100 Startup: Fire Your Boss, Do What You Love and Work Better to Live More (Paperback)

by Chris Guillebeau The $100 Startup is your manual to a new way of living. Learn how to earn as much as you would from a nine-to-five job but on your own terms, when and where you want.

7

Craft Show & Sell (Paperback)

by Jayne Torie Through step-bystep tutorials and inspiring profiles, this book delivers all the advice and vision that today’s crafters need to take their brand or business forward into a new realm.

- Business|Books -

8

Setting Up a Successful Photography Business: How To Be a Professional Photographer (Paperback)

by Lisa Pritchard This book includes all the essentials - how to prepare the best portfolio and website; how to market yourself and get clients; how to cost and produce shoots; how to finance and run your business plus much more.

9

Starting and Running An Online Business For Dummies (Paperback)

by Kim Gilmour, Dan Matthews and Greg Holden All you need is a good idea, a bit of start-up cash, computer equipment and a little help from the practical, handson information in Starting and Running an Online Business For Dummies.

10

How to Start Your Own Business for Entrepreneurs (Paperback)

by Robert Ashton This bestselling book offers the most extensive start-up toolkit of invaluable advice and expert guidance. Relevant to entrepreneurs of any experience, it covers absolutely every aspect of starting a business.

April/May 2014 │89

WISE WORDS I have heard many Wise Words throughout my career and, as is often the case, they really only resonate sometime later.

The two first quotes are from my favourite book, To Kill a Mockingbird by Harper Lee. I read it when I was a child and have read it several more times as an adult. I recognise that one is shaped by many things when growing up: parents, family, peers and the general situation that life brings to you but l think that this book, with its themes of justice, isolation and courage to stand up for those who need help have shaped me, shaped my thinking, my motivation.

Things are always better in the morning. This is so true! We’ve

all heard this advice, many times, but it takes practice to trust it. I’m still amazed how different things look in the morning light. The perspective changes, the nuance and interpretations seem more positive and I approach things with a clearer sense of purpose after a good night’s sleep. A difficult or demanding situation that arrives late in the day just isn’t that bad the next morning quite remarkable but very true.

You never really understand a person until you consider things from their point of view... Until you climb inside of his skin and walk around in it. How can we have

empathy if we don’t consider the feelings and experiences of others? I can be quick to judge and yet, when I stop, take a breath and take time to consider what the other person might be experiencing, I find myself coming to different conclusions about their possible motives or why they have made the decisions they have made. This quote shapes the way we work with people at The Whitehawk Inn.

90│

April/May 2014

Live so that when your children think of fairness, caring, and integrity, they think of you. The

American author, H. Jackson Brown Jr included this quote in one of his books. Being a parent has proved to be one of the most rewarding and yet daunting roles I have. My own parents were fabulous role models and brought their children up with an expectation that their children would consider the needs of others, be kind and resist selfishness. They both gave lots of their time and energy to other people. I think it rubbed off!

‘Opportunity dances with those already on the dance floor.’

Opportunity dances with those already on the dance floor. I think

this sums up how I like to think I approach life. Life is there to be enjoyed and to make a difference but you have to be on the dance floor to join in the dancing and to take opportunities as they come.

The Whitehawk Inn is well known across the City for its mission to prepare people for a brighter future. We enable people to have confidence in themselves, to articulate their aspirations and then

- Wise words -

Frances Duncan Director of award winning local charity in East Brighton, The Whitehawk Inn www.whinn.org.uk

make plans and take steps towards achieving their goals. We help to prepare them for the dance floor.

‘So, when your eulogy is being read, with your life’s actions to rehash.

Would you be proud of the things they say about how you spent your dash?’ I know exactly where I heard

this. Last year, at a fundraising event for the charity, our patron Peter James, the author, delivered the entire poem beautifully. The packed room fell silent as no doubt everyone was able to relate to so much of it.

For me personally it was the final verse that produced goose bumps!

I immediately questioned myself “Would I be proud? Have I spent my life wisely, so far?” I feel privileged to have been able to follow so many of my dreams and I am grateful for the opportunities I have had in life.

There’s still plenty of time to listen to those more experienced in life and learn from the millions of examples around you. The world is a very educating place actually.

Dreams can come true...

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