Platinum Business Magazine - issue 101 by Platinum Media Group

THE LARGEST CIRCULATION REGIONAL BUSINESS PUBLICATION IN THE UK platinum SIRRUSHDIESALMAN MAGAZINEDYNAMICINSIDE DOING DIFFERENTLYSPACE Surrey Research Park TRAVEL Elevate your break RUSHDIE FIGHTING AGAINST THE DEATH OF FREE SPEECH Has anyone seen the UK Opposition? PARTNERSHIPAGREEMENTS How to get them right MOTORING HuracanLamborghiniSTO ISSUE 101 SEPTEMBER 2022

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ofCompanytheYear Sponsored by ServicesProfessionalAward Sponsored by BusinessInternationalofthe Year Sponsored by ProjectConstructionofthe Year Sponsored by Large Business of the Year Sponsored by SME Business of the Year Sponsored by GrowthBusinessAward Sponsored by FINALISTS • Branstone Farm, Arreton Valley • Hillbourne Primary School • Portsmouth International Port • The Livingstone Academy • Winchester Sports & Leisure Park FINALISTS • Agincare • Meachers Global Logistics • Portsmouth International Port • Ridge and Partners • Savills Southampton FINALISTS • Absolar Solutions Limited • Carswell Gould • Hampshire Artisan Foods • Hewitt Matthews • Start Communications FINALISTS • Meachers Global Logistics • Paul Basham Associates • Penta Precision • Start Communications • ThinkEngine ofEmployertheYear Sponsored by Future Talent of the Year Sponsored by ofBusinesspersontheYear Sponsored by FINALISTS • DB Foods • Highfield Professional Solutions • Innovative Physics • Laura Fisher • Lionel Hitchen FINALISTS • Blake Morgan • Highfield Professional Solutions • Lionel Hitchen • Savills Southampton • The Glow Studio FINALISTS • Darren Cooper, Peter Cooper Motor Group • Lesley Robinson OBE, British Marine • Richard Hand, Ridge and Partners • Gavin Hall, Savills Southampton • Steve Witt, Not Just Travel & The Travel Franchise ofStart-uptheYear Sponsored by Best ServiceCustomerAward Sponsored by FINALISTS • Chamiah Dewey Fashion • Hampshire Artisan Foods Ltd • Labl.it • powerQuad • Start Communications FINALISTS • Blake Morgan • Dutton Gregory Solicitors • Pure Human Resources • Ridge and Partners • Surrey Translation INFO@PLATINUMMEDIAGROUP.CO.UKBureau Contribution to the Skills Agenda Sponsored by FINALISTS • Eight Wealth Management • Fareham College • Morgan Sindall Construction • Superior Seals • Trant Engineering Business Innovation of the Year Sponsored by FINALISTS • Kortext • Marwell Wildlife • Microlink Pc • Morgan Sindall Construction • Mountjoy BusinessSustainableof the Year Sponsored by FINALISTS • Coconut and Cotton • Greenwood Plants • Marwell Wildlife • Portsmouth International Port • Wightlink Ferries FINALISTS • Callum Wright, LMSUK • Chamiah Dewey, Chamiah Dewey Fashion • Dmitrijs Meiksans, Demo Consultancies • Hannah Ramplee, Chilworth Manor • Laura Fisher, Laura Fisher MAGAZINE FINALISTS • Chichester Shutters • Highfield Professional Solutions • Kimbridge Barn • New Place Hotel • Surrey Translation Bureau 2022 FINALISTS ANNOUNCED FINALISTS • Highfield Professional Solutions • Lionel Hitchen • Morgan Sindall Construction • Ridge & Partners • Start Communications

It’s It’sbringtimefinallytothatideatolife.finallytimetobringthatideatolife.bringthatbringthatideatolife. Join NatWest’s free online Business Builder course today to start turning your idea into a business tomorrow. Search NatWest Business Builder to sign up

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PLATINUM MEDIA

LEGAL 16 DMH Stallard How to avoid disputes in partnership agreements 30 Loch Associates Encourage employees to speak up, and make sure they are heard, says Pam Loch. Plus details of a Platinum Reader Offer 38 Mayo Wynne Baxter Planning for future care costs – the traps and considerations INNOVATION 52 Sussex Innovation Talent, culture and resilience – the three big challenges facing SMEs TRAVEL 60 Hobby Holidays Platinum travel editor Tess de Klerk suggests a few hobby and adventure-based breaks, as an alternative to ‘lazing on the beach’

The role of SSTL within international space programmes 24 Mattioli Woods Make sure that, in the world of investments, clients are being served properly 26 NatWest Business NatWest’s PMI Business Activity Index: the indicator of regional economic health 40 MDHUB Fiona Shafer’s in-depth interview with Luke Mead, CEO of the LMS Group 44 NatWest client profile Focus on Management & Construction Services Ltd, and NatWest Business’ part its growth 55 BIPC How could my business benefit from desk research? 56 NatWest AcceleratorEntrepreneur

SEPTEMBER

MOTORING 64 Motoring Review Motoring editor Maarten Hoffmann reviews the ‘fire-breathing’ roadgoing version of the Lamborghini Huracan STO GROUP BIG STORIES 20 Sir Salman Rushdie Attacking an open advocate of free speech is an attack on free speech itself 32 Where is the Opposition? With the turmoil at the top of the UK government, shouldn’t Labour be taking more of an advantage? NEWS 8 Local and international news A round-up of the important business stories in Sussex and around the world 12 Prime Minister Liz Truss As the UK welcomes the sixth Prime Minister of the 21st century, Platinum takes a look-by-numbers at the new leader of the Tory Party

No part of this publication may be reproduced without prior written consent from the publisher.

The publisher reserves the right to change or amend any competitions or prizes offered.

CONTENTS 2022 101 BUSINESS 14 Brewin Dolphin Taking a decision to invest when a recession is looming 18 Surrey Research Park

A focus on Rest Space, a company set up to facilitate the ‘power nap’ at work 59 Cleankill MD Paul Bates stresses the importance of communication to get your name out there FINANCE 36 Kreston Reeves Financing business assets –a guide for SMEs 49 Haines Watts Three challenges facing nearly all family businesses 20 60

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Platinum Business Magazine is owned and published by Platinum Media Group Limited.

EVENTS 2 Central South Business Awards 2022 The big event is at the end of this month. Get involved in this prestigious new awards ceremony 28 Sussex Business Awards 2022 Deadline for entries is this month, so enter while you still have the chance 47 Better Business Show 2022 After an enforced wait, Worthing’s biggest business show returns 50 Surrey Business Awards 2022 Judging is imminent ahead of the awards evening in November

Visualise your future with a 360° review delivering trusted, expert advice. FinancialEstateInvestmentsPensionsPlanningManagement Get in touch 020 8936 outcomestoMattioliNowjulie.sebastianelli@mattioliwoods.com3970intheSouthEast,Woodswillworkharddeliverthebestfinancialforyou. Authorised and regulated by the Financial Conduct Authority. www.mattioliwoods.com

SUB EDITOR: Alan Wares alan@platinummediagroup.co.uk

In this issue we look at Partnership Agreements and how to make them work, we ask where the UK’s Opposition Party is hiding at a time when they should be making hay, and we investigate how to finance those business assets.

There is much much more for your delight and delectation and we hope you enjoy this issue.

EVENTS DIRECTOR: Fiona Graves fiona@platinummediagroup.co.uk

HEAD OF DESIGN: Michelle Shakesby design@platinummediagroup.co.uk

7www.platinummediagroup.co.uk WELCOME

The PlatinumTeam

Maarten has still got his driving licence, though no-one quite understands how, and nor will you when you read his review of the Lamborghini Huracan STO. Fiona Shafer takes a more sedate spin in the SEAT Tarraco. Tess covers Hobby Holidays for those that prefer to keep on the go.

COMMERCIAL DIRECTOR: Lesley Alcock lesley@platinummediagroup.co.uk

Mattioli Woods asks if you are being served and Sussex Innovation tackles some of the biggest challenges facing SMEs.

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WELCOME

PUBLISHER/EDITOR: Maarten Hoffmann maarten@platinummediagroup.co.uk

CONTACTS

Welcome to the September issue of your favourite business magazine as the summer vacations are over and we return to work.

TRAVEL EDITOR: Tess de Klerk tess@platinummediagroup.co.uk

REALITY OR FANTASY?

Hopes that supersonic passenger planes might boom again have been aired from time to time ever since Concorde’s last flight in 2003. Now, they are soaring, on the back of the news that American Airlines has purchased 20 Overture jets from the Colorado-based manufacturer Boom Supersonic. Two other big airlines – Virgin Atlantic and United Airlines – have also placed orders for the plane, dubbed “son of Concorde” by its makers, which is set to begin production in 2025 and aims to run on 100% sustainable aviation fuels.

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Founder CEO Blake Scholl said he hoped to consign jet lag to history; some have speculated that the first commercial flights could run as early as 2026. Overture promises top speeds of Mach 1.7: below Concorde’s Mach 2.04, but twice the speed of today’s fastest commercial aircraft – nearly halving times on many routes. Concorde was a technological marvel for the 1960s, says Scholl. “But they weren’t focused on the economics. More efficient technology means we can get the cost right down. The plane’s 65-80 seats will initially be priced at business-class rates, eventually falling to standard prices.

BrewDog has announced it will close six of its pubs, blaming spiralling costs and a “clueless government”. The craft beer firm will shut the Hop & Anchor in Aberdeen, Smithfield Market Arms in London, Hop Hub in Motherwell and its BrewDog bars in Dalston, east London; Old Street, east London; and Peterhead, Scotland. James Watt, founder and chief executive of the company, said in a LinkedIn post that the hospitality sector faces “sheer ‘rabbit in the headlights’ paralysis of this zombie government” as rocketing costs threaten the future of many pubs, restaurants and

CLUELESSbars.

NEWS BULLETIN

❛❛ It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt ❜❜ MARK TWAIN TWITTER EDIT

It has been rumoured for months, and clamoured for by high-profile users, including reality TV star Kim Kardashian— who needled Twitter founder Jack Dorsey about it at Kanye West’s birthday party in 2018. And now the Twitter edit button is finally here. The company announced that the ‘edit tweet’ function is being tested internally, and will shortly be available to those who pay for Twitter Blue, the company’s subscription service. While the ability to edit tweets will be limited to those who pay £3 a month for now, all Twitter users will be able to see tweets that have been edited in their timelines—alongside evidence that they’ve been changed post-publication.

An exodus of over-50s who left the workforce during the Covid pandemic is fuelling wage inflation, says the boss of John Lewis. Dame Sharon White said any government must think really hard about how to get more older people back into work.

NATIONALISATIONtariffs.

Energy firms that cannot lower bills should be temporarily brought into public ownership, former Labour prime minister Gordon Brown has said, in a stark challenge to the government.

The Co-op has agreed to sell its 129-strong petrol forecourt businesses to Asda in a deal worth £600m.

Brown has called for the energy price cap to be cancelled and for the government to negotiate new lower prices with energy companies. The former Labour prime minister compared the current costof-living crisis to 2008, when some banks were temporarily nationalised to protect consumers.

EXODUS

PETROL DEAL ❛❛ Get your facts first, then you can distort them as you please ❜❜ MARK TWAIN ❛❛ Buy land, they’re not making it anymore ❜❜ MARK TWAIN

The UK has seen one million people, mostly in their 50s, leave work since the start of the Covid-19 outbreak. That inevitably causes wage inflation, said Dame Sharon. The number of economically inactive people - those without a job and not seeking to work - is higher than before Covid struck, according to the Office for National Statistics. Retirement is the most popular reason given by people aged between 50 and 70 for not working. Job vacancies are at a record high, and employers who want to attract and retain staff are under pressure to lift wages, which in turn fuels inflation.

Writing after annual bills were forecast to reach more than £4,200 by January 2023, Brown said that the government should pause any further increase in the cap and then negotiate separate company agreements to keep prices down after examining profit margins and available social

The Co-op said the sale of the sites, which represents 5% of its retail estate, would enable it to expand its network of grocery stores, and also help it balance the books. Asda said the purchase was part of plans to move into smaller, convenience grocery stores. About 2,300 Co-op petrol station staff will be moved to Asda’s employment. As part of the deal, Asda will pay £438m in cash and take on responsibility for Co-op’s lease payments which total about £162m. The precise figure will be confirmed when the sale is completed later this year.

9www.platinummediagroup.co.uk NEWS

TheNEWSownerofseveralcinemasacrossSussexisreported

LOCAL

When record temperatures wracked the UK in late July, Google Cloud’s data centres in London went offline for a day, due to cooling failures, with outages limiting their access to key Google services for hours. Oracle’s cloud-based data centre in the capital was also struck down by the heat. Oracle blamed “unseasonal temperatures” for the blackout. The UK Met Office suggests that the record heat was an augur of things to come, which means data centres need to prepare for a new normal, meaning higher bills for all companies.

Demolition work of the conference space to the rear of the Hilton Metropole on Brighton’s seafront is well underway to make way for a new nine-storey hotel with 221 Almostbedrooms.allofthe original building has been torn down by excavators. The exhibition space was last used in 2018, with the city’s tourism team reassuring councillors in a meeting last year that the loss of the space would not impact Brighton’s ability to host large conferences, which is incorrect as it was the largest hotel exhibition and conference space in the city. For some odd reason, a condition of the planning permission requires the Metropole site’s owner, Topland, to spend £50,000 on public art.

to be preparing to file for bankruptcy. Cineworld shares have plummeted as concerns grow that it will file for bankruptcy “within weeks”. The chain has cinemas in Brighton, Crawley, Chichester and Eastbourne. It also owns Picturehouse cinemas which runs Duke of York’s in Preston Road, Brighton, and its younger sister the Duke’s at Komedia, in Gardner Street. It is unclear what the future holds for these. Shares in Cineworld Group PLC dived by two-thirds within minutes of reports by the Wall Street Journal that it had hired lawyers from Kirkland & Ellis and consultants from AlixPartners to advise on the bankruptcy process.

❛❛ fear of death follows from the fear of life. A man who lives fully is prepared to die at any time ❜❜ MARK TWAIN

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The

NEW HILTON BRAND

HOT DATA MADNESS

MOVIE

FASCINATING GRAVEYARD you ﬁ nd yourself on the side of the majority, it is time to pause and reﬂect MARK TWAIN

❛❛ Whenever

❜❜

11www.platinummediagroup.co.uk NEWS

Most of the aircraft kept at boneyards are either kept for storage with some maintenance or have their parts removed for reuse or resale. It is home to everything from Harrier Jump Jets and Sea King helicopters to police cars and jet Theskis.fascinating scrapyard, owned by Adrian Wright, is secured behind a black wrought iron gate. The owner lives at the site, enjoying the remarkable collection in his very own backyard.

Tucked away in woodland in Surrey is an extraordinary scrapyard where aircraft go to die. Glover’s Wood is on the edge of Charlwood, and is one of the largest woodlands in the region.

MARK

❛❛ Part

CHAMBER NEWS Surrey and Sussex Chambers of Commerce are delighted to announce that they has been chosen to lead the development and delivery of the Local Skills Improvement Plan (LSIP) for their Followingregions. the successful development of the Trailblazer LSIP, published in April 2022, the Chambers have now been designated as the Employer Representative Body to take forward the LSIP for Sussex and Surrey, as they are rolled out across the country. Skills shortages are regularly highlighted by businesses as a key recruitment issue, and the Department for Education-funded LSIPs aim to put the voice of local employers at the heart of the learning and skills system to build a stronger, more dynamic partnerships between employers and education providers. It is hoped this will allow provision to be more responsive to the skills needs of employers in the South East labour market. This designation provides an exciting opportunity to continue the work started during the LSIP Trailblazer. It will bring together employers, training providers and other key stakeholders across the South East to continue to respond to the skills priorities and solutions identiﬁ ed within their LSIP report.

COLLEGE MERGER

A rare sight in itself, the scrapyard also has the unique aspect of being less than 10 minutes from Gatwick Airport.

A merger has taken place between Chichester College Group and Greater Brighton Metropolitan College (GB ThisMET).merger brings many opportunities, as they come together to create a dynamic, strong and resilient college group, ensuring employers, young people, apprentices and adults across the region will be able to access high quality and wide-ranging education and training programmes. The newly formed Group will educate and train over 25,000 students annually and have ten campus sites across the region. As part of the merger, they will be rebranding Northbrook MET as Northbrook College, while Greater Brighton Metropolitan College will become Brighton Metropolitan College, retaining the identity that resonates with students and employers in the Brighton community. of the secret of a success in life is to eat what you like and let the food ﬁ ght it out inside ❜❜ TWAIN

Truss was President of Oxford University Liberal Democrats whilst studying philosophy, politics and economics. In 1996, she both graduated and joined the Conservative Party. She worked at Shell and Cable & Wireless, and was deputy director of the think tank Reform. Truss was elected for South West Norfolk at the 2010 General Election. As a backbencher, she called for reform in several policy areas including childcare, mathematics education and the economy. She founded the Free Enterprise Group of Conservative MPs and wrote or co-wrote a number of papers and books, including After the Coalition (2011) and Britannia Unchained (2012). 26th Francis, 16, Liberty, College, Oxford

The new prime minister of the United Kingdom

Mary Elizabeth Truss served as Secretary of State for Foreign, Commonwealth and Development Affairs since 2021, Secretary of State for International Trade of the United Kingdom since 2021 and Minister for Women and Equalities since 2019. A member of the Conservative Party, she has been Member of Parliament for South West Norfolk since 2010.

1975 in Oxford SPOUSE Hugh O’Leary PARENTS John & Priscilla Truss CHILDREN

13 EDUCATION Merton

12 www.platinummediagroup.co.uk FEATURELIZ

TRUSS

❛❛ The teachers at my primary school were all card carrying members of the Labour Party and it was not part of the culture to approve of anything the government were doing ❜❜ ❛❛Every pound that comes into the work,wasExchequerearnedbysomeonethroughhardandcouldhavebeenusedforanewcar,aholidayoratreatforthechildren.ItmeansIhavearesponsibilitytomakesurethatallpublicspendingis justified ❜❜

BORN July

❛❛ At primary school, l played the role of Margaret Thatcher in a mock election play. I ended up with zero votes - l didn’t even vote for myself ❜❜

❛❛ The reason l am a Conservative is that l saw kids at my school in Leeds being let down ❜❜ ❛❛ At Oxford, l met Tories and found these people do not have two heads or eat babies ❜❜ ❛❛Britain is the ideas factory of the world and has potentialhugeto benefit from the freeinOurtechnologicalnextrevolution.futureliesbeingahighskilled,highinnovation,enterprisenation ❜❜ ❛❛ Women need to be less

During a speech to the Lib Dem conference in 1994, she made an impassioned plea to abolish the monarchy

about making money ❜❜

FEATURE

Her father is an emeritus professor of pure mathematics at the University of Leeds, while her mother, the daughter of a Latin teacher at Bolton School, was a nurse, teacher and member of the Campaign for Nuclear Disarmament. Truss has described her parents as being “to the left of Labour”. When Truss later stood for election to Parliament as a Conservative, her mother agreed to campaign for her, while her father declined to do so. Her father is so upset by his daughter being leader of the Conservative Party, that he refuses to speak of it. squeamish

Read on to find out why attempting to time the market is risky, and what you can do to protect your investments in challenging times.

whereas markets tend to be forward-looking. Basing your investment decisions on what’s happening in the news right now is unlikely to reap rewards because, very often, this will have already been priced into valuations. The most recent recession occurred in 2020, when the coronavirus pandemic sparked lockdowns in the UK and Europe. The FTSE All Share plunged in February and March, yet it wasn’t until August, when data showed GDP

If a recession is looming should I invest?

How recessions affect stock markets

The slowdown in the UK economy may have you wondering whether this is a good time to be investing in the stock market. Warnings of a recession are unsettling, but our analysis shows it is far better to maintain a long-term view than try to avoid market dips.

Recessions, defined as two consecutive quarters of shrinking gross domestic product (GDP), are commonly associated with falling stock markets. However, the two don’t necessarily happen in tandem. Market selloffs typically occur well ahead of recessions being officially announced, and they often recover well in advance too. This is because economic data is largely backward-looking

Total returns of the FTSE All Share between 1 May 1989 and 28 April 2022 based on a £10,000 initial investment, with the assumption that all dividends are reinvested.

FTSE All Share (price index)

can

had fallen by 2.2% and 20.4% in the first and second quarters, that the UK was confirmed to have been in a recession. By then, the index had already bounced back and anyone who had sold out of their investments would have risked missing out on these subsequent sharp gains.

Brewin Dolphin Limited is a member of the London Stock Exchange, and is authorised and regulated by the Financial Conduct Authority (Financial Services Register reference number: 124444). Registered office: 12 Smithfield Street, London, EC1A 9BD. Registered in England and Wales – company number: 2135876. VAT number: GB 690 8994 69

The dangers of timing the market

Recession or no recession, trying to time the market is almost impossible. In an ideal world, you would ‘buy the dips’; in reality, there is no way of really knowing whether the stock market has reached rock bottom and when the recovery will occur. The practice ‘buy low, sell high’ is something that only professional investors should attempt. Do it wrong and you could miss the market’s best days, ending up significantly worse off.

0 20 0 0 40 0 0 60 0 0 80 0 0 £ 00 0 0 £ 20 0 0 £ 40 0 0 £ 60 0 0 Stayinvested Missed5bestdays Missed10bestdays Missed15bestdays Missed20bestdays Missed25bestdays Missed30bestdays 2500 2700 2900 3100 3300 3500 3700 3900 4100 4300 4500 D e 1 9 J a n 2 0 F e b 2 0 M a r 2 0 A p r 2 0 M a y 2 0 J u n 2 0 u l 2 0 A u g 2 0 S e p 2 0 O c t 2 0 N o v 2 0 D e c 2 0 J a n 2 1 F e b 2 1 M a r 2 1 A p r 2 1 M a y 2 1 J u n 2 1 u l 2 1 A u g 2 1 S e p 2 1 O c t 2 1 N o v 2 1 D e c 2 1 J a n 2 2 F e b 2 2 M a r 2 2 A p r 2 2 Source: Refinitiv Datastream

Rather than trying to time the market, a much better tactic is to stay focused on your long-term goals. Recessions are a normal (albeit unnerving) part of investing. It remains true that investing offers the potential for greater returns than cash over the long term.

Managing a well-diversified investment portfolio on your own isn’t always easy, and that’s where getting some smart advice can help. An adviser will build a portfolio that suits your individual needs and works hard to preserve, and grow, your money’s purchasing power over the long BDM4002_2207_0.1term.The value of investments, and any income from them, fall and you may get back less than you invested. Neither simulated nor actual past performance are reliable indicators of future performance. Information is provided only as an example and is not a recommendation to pursue a particular strategy. Information contained in this document is believed to be reliable and accurate, but without further investigation cannot be warranted as to accuracy or completeness.

The best way to mitigate the impact of stock market falls is to spread your money across a range of asset classes and sectors, in accordance with your needs and attitude to risk. Different asset classes and sectors tend to perform differently to one another in a range of market conditions, which can help to smooth portfolio performance over the long term.

The chart shows the impact of missing the market’s best days on a £10,000 investment in the FTSE All Share between May 1989 and April 2022. If you kept your £10,000 invested throughout, it would have grown to £140,287 by the end of the period, assuming dividends were reinvested and before fees. However, if you tried to ‘buy low, sell high’ and missed the market’s 30 best days, your investment would have increased to just £33,872.

Impact of missing the market’s best days on a £10,000 investment over three decades.

Focus on your long-term goals

Paulbrewin.co.uk/gatwickCannons 01293 661323 | paul.cannons@brewin.co.uk

Source: Brewin Dolphin / Refinitiv Datastream

❛❛ It is important to take the time to record how your partnership will work and ensure that you review it regularly ❜❜

It is therefore important to take the time to record how your partnership will work and ensure that you review it regularly, so that it remains fit for purpose and has sufficient scope to take account of the ups and downs of normal business activity as well as the unexpected. Not only will this mean that you are in control of the relationship rather than some piece of legislation that was drafted over 130 years ago, but it will also help you should, (perish the thought), a dispute

16 www.platinummediagroup.co.uk LEGAL

Sadly,arise.

When a business relationship is under pressure, either due to personal disagreements or differing business objectives, you need a firm legal agree ment in place to help you navigate Startingthrough. a new business is an exciting time. You’ve decided on your product or service, your operating model and everything is rosy. But what about the legalities of the relationships between you and your peers? Have you thought about how this will work both at the start and as the business develops? Equally, if you have an existing business, are the legalities of the relationship set on firm foundations that will enable effective management during periods of growth, instability or change? Whilst many will opt for a formal company structure, partnerships are very common in England, allowing indi viduals to enter into a business relationship with less strict formalities than are required for a limited company. If this is your vehicle of choice, it is important from a risk management perspective to make sure that everyone knows where they stand, both now and in the Whilstfuture.itisnot a legal requirement to have a written partnership agreement in place, if you don’t, the relationship will be governed by The Partnership Act 1890 (“the Act”). And whilst us lawyers love reading Statute, most normal people do not. Plus, the Act means that terms are imposed that you might not want or like.

Nicola Billen, Partner, DMH Stallard, has advised many Partnerships when things have gone wrong, and her number one tip is to get the Partnership Agreement right from the start and don’t rely on good will

we see many partnership disputes and are often told by our clients

andHowAGREEMENTSPARTNERSHIPtogetitrightavoiddisputes

“I never thought this would happen”. Taking pre-emptive steps is not a sign of weakness, or that you don’t see things succeeding, but rather it is a commer cial and pragmatic approach.

So here are some top tips for what to include in a partnership agreement and what to keep in mind as the business grows:

❛❛ Whilst many will opt for structure, partnerships very common England ❜❜ www.platinummediagroup.co.uk

CRITICAL EVENTS

In the early days it is likely that you will agree about most things, but that might not always be the case. It’s important to define who will be responsible for the day-to-day management, what kind of decisions can they make alone and what decisions need a unanimous vote from all the partners - or at least 75%. Put together in writing how the process will work, so that everyone is clear from the start. Ensure that there is a mecha nism to allow you to make changes in future, not only to the agreement gener ally, but also to key business requirements if needed.

are

a formal company

For further information enquiries@ DMHStallard.com

DECISION MAKING

17 LEGAL DMH Stallard is known for providing a service that is always partner led, tailored and highly responsive to the needs of our clients

You may have decided on a simple split in respect of investment into the business, but what if you are investing different amounts – from both a monetary and time perspective? Think carefully about how money should be used and allocated, particularly as the business evolves and new contracts are entered into. Make sure any mechanisms in place set out a clear understanding of how the finances will work, and that this is reviewed on a regular basis, otherwise this can become a real bone of contention.

Whilst having a written agreement in place is not a sure-fire way to make the partnership work, it certainly will go a long way to helping it remain on the straight and narrow. If things do start to go wrong, they can become compli cated very quickly, so take the time to try to resolve issues and look at the bigger picture as quickly as possible.

There can be a big difference between what one person sees as their role and what others within the partnership perceive it to be. This can lead to a misalignment of views on who is entitled to what profit. Without a clear separation of duties and understanding of bound aries, disputes can easily unfold. Evidently this is a part of the business makeup that can change over time, so should be reviewed regularly to ensure that any agreement in place truly reflects the position.

What should the process be if a dispute arises between you and your fellow part ners? A multi-tiered dispute resolution provision can be a good idea as this ensures that the parties follow a sequence of processes, which hopefully encourage everyone to sensibly settle issues without the need to resort to more draconian steps. Also consider how important it is if a dispute does arise that any facts remain private. If it is important, then you may wish to consider referring any dispute to arbitra tion rather than court proceedings.

Many issues arise over succession plan ning and the process for an outgoing partner and what happens to those continuing. If there are only two part ners and no written agreement in place, then the partnership will automatically dissolve if one retires. So whilst you might not be thinking about that stage in your life just yet, make sure you at least have something in writing to explain what happens if and when you do.

INVESTMENT

DISPUTE RESOLUTION

DUTIES

Additionally, whilst a sale or buyout probably won’t be on the cards in the early days, it’s worth considering how the company should be valued for such purposes and review this every few years to make sure it’s still workable. Danger can arise if the process is not properly documented anywhere, or conversely if formalities are set out in a partnership agreement but not adhered to.

Borne of the first successful launch of ‘small-sat’ UoSAT-1, and built using commercial off-the-shelf components by the company’s Chairman Sir Martin Sweeting - then a University of Surrey researcher - SSTL has grown to become a global space industry power house.

It will use a technique called GNSS Reflectometry which exploits existing signals from Global Navigation Satellites, such as GPS and Galileo, as radar signal sources. The HydroGNSS mission will assist with the fight against climate change by providing valuable measure ments using space technology.

LUNAR PATHFINDER

Surrey Satellite Technology Limited (SSTL) has been based on the Surrey Research Park in Guildford since 2006, having been located in various locations around the south east of England since its launch nearly 40 years ago

DOING DIFFERENTLYSPACE

HYDROGNSS With funding from the European Space Agency’s Scout programme, SSTL is building HydroGNSS, a 55kg small satel lite to measure climate change variables. HydroGNSS will take measurements of key hydrological climate variables, including soil moisture, freeze thaw state over permafrost, inundation and wetlands, and above ground biomass.

SATELLITEVU MWIR PATHFINDER

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SSTL is building a Mid Wave Infra-Red (MWIR) thermal imaging satellite for Satellite Vu. The pathfinder satellite will pave the way for a planned constella tion of MWIR spacecraft which will have the ability to measure the heat signa ture of any building anywhere multiple times a day. This will then enable SatelliteVu to derive new insights in real time about building emissions, energy use and insulation.

The Lunar Pathfinder spacecraft is designed to provide affordable commu nications services to lunar missions via S-band and UHF links to lunar assets on the surface and in orbit around the Moon, and an X-band link to Earth. Due to launch 2025, the Lunar Pathfinder space craft will be a mission enabler for polar and far-side missions, which, without direct line of sight of the Earth, would otherwise have to procure their own communications relay spacecraft.

BUSINESS

The SSTL supply chain is 80% UK based and in 2022, over a third of those are SME organisations, many of whom are based in the local area. SSTL is at the forefront of the UK space industry supply chain strategy. Inspired by the ambitious goals set forth in the National Space Strategy published in September 2021, and the UK Space Agency’s Corporate Plan 2022-2025, SSTL is honoured to be a founding member and part of the Advisory Board representing industry at the new SurreyHampshire space cluster ‘Space SpaceSouth-Central’.South-Central brings together local government and the UK Space Agency, all levels of academia as well as industry to help unlock further growth and potential in the space sector. This includes manufacturing organisa tions and service providers; SSTL can’t build our satellites unless its suppliers have the right skillsets available in their workforce or local area to make the Spaceparts!

SSTL’S ANNUAL IMPACT IN THE UK 2020

IS fascinating and inspirational and it can help organisations recruit the talent needed if it is known the part being designed or made will be going in to orbit on satellites such as Lunar Pathfinder or Satellite Vu. That is why SSTL involves itself in Outreach, to educate and inspire through events like World Space Week and the Guildford High Street Takeover and careers events, school liaisons and more.

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Lunar Pathfinder is a more cost-effective alternative to direct-to-Earth solutions, and a credible alternative to institutional deep-space ground stations, offering orbiters and near-side missions a better availability, enhanced safety and improved data-rate.

As a part of the UK manufacturing industry and with 40 years’ experience of working with supplier organisations in the South East and around the country, SSTL knows that the key to unlocking that ambitious growth is the UK supply chain - those already in the space industry and those who are yet to join it.

❛❛ A thriving sector, space has seen extraordinary growth over the last decade, trebling in size ❜❜ Space South Central brochure July 2022

One of Space South Central’s mission objectives is to inspire people to take their careers into space, whether that is straight from education or coming from a different career or industry altogether.

SSTL’S IMPACT IN THE UK In the UK, 5.6 million businesses are SMEs; small to medium sized organisa tions with a turnover of less than €50 million and fewer than 250 employees (source: www.gov.uk). SSTL has been an SME for much of its time so the company understands the challenges but also the unique strengths, agility and space-potential of SMEs in the South East and the UK as a whole.

2022-25UKpublications/national-space-strategywww.gov.uk/government/organisations/uk-space-agencywww.gov.uk/government/www.spacesouthcentral.comwww.sstl.co.ukSpaceAgencyCorporatePlan

If you want to find out more about where the UK space industry is headed, Space South Central, how to be considered for the SSTL supply chain, or to see the career opportuni ties available right now, please visit the links below or get in touch!

BIG STORY

21www.platinummediagroup.co.uk BIG STORY What constitutes free speech? At first glance, this a rather basic question but it is far more complex than one might think - and we lose it at our peril. If Rushdie can be silenced, so can we all.

By Maarten Hoffmann

SIR SPEECH?OFTHERUSHDIESALMANDEATHFREE

This is the definition of the death of free speech and must be fought, battled and defended to the last man and woman with a breath in their lungs. I recall well the shock and disgust felt across the world that followed the fatwa over the idea that writing a book could lead to death. Suddenly, the simple act of writing was fraught with danger. Society cannot survive without free speech. Democracy is built on the right to dissent, on the right for people to holds opposing views. Our society needs freedom of expression to protect us for the worst atrocities that govern ments can visit on their citizens.

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Salman Rushdie wrote a fictitious book in 1988 entitled The Satanic Verses. Great offence was taken by muslim hard-liners, mainly Iranian, and the Ayatollah Khomeini issued a worldwide fatwa calling on all Muslims to kill him. 34 years later, they tried, stabbing him up to 15 times as he stepped onto stage in the US to give a speech.

❛❛ Freedom of thought and expression are essential for civilised life. But this does not mean we have the right to hate speech ❜❜

Christians might hold Jesus in such high regard and would be offended if l said he didn’t exist, if l said the Bible was a made up story to keep the masses in check, if l said he was gay, trans or an idiot, or published a cartoon of him in a dress, that would be my right.

The French magazine Charlie Hebdo published a simple cartoon of the prophet Mohammed in 2015, and their office in Paris was bombed and 12 people were killed, with 11 badly injured.

Let’s get this straight. You have the right to be offended, you have the right to be outraged and you have the right to argue your point. But you DO NOT have the right to murder people who trans gress your views or beliefs.

Hardline Muslim doctrine states that if you dishonour their beliefs, you should be killed. We in the UK have beliefs.

Freedom of thought and expression are essential for civilised life. But this does not mean we have the right to hate speech, or incitement to violence, or words that denigrate or dehumanisefree expression should be exercised with respect. But it is not a crime to doubt or question others’ religious Iviews.fullysupported Rushdie in the eighties as l didn’t believe that he wrote his novel to deliberately cause offence. A novel is a dialogue of voices. A novel is not polemic. It creates a world to question a world. I believe we must protect the realm of the imagination. No one should be killed because of a novel, as violence is never the answer to disagreements and an eye for an eye makes the whole world blind.

In the eighties, Booker award author, Ben Okra lampooned the rigged Nigerian elections and was strongly advised to leave the country immedi ately as his life was in danger. A year later, author Ken Saro-Wiwa was hanged in Nigeria for protesting against the environmental damage caused by oil drilling in his home state. Nine jour nalists, including Maharani Durrani, were killed in a bomb blast in Afghanistan in 2018 for writing about women’s rights. Czech journalist Pavla Holcova was shot to death with his fiancée in 2018 for investigating the links between Slovak prime minster and the Italian mafia. Mexican journalist Leslie Ann Montenegro was shot dead in 2018 for poking fun at local politi cians. Jamal Khashoggi was killed and dismembered in 2018 by, allegedly, the Saudi head of state for his views - and so it goes on.

BIG STORY

And now some lunatic called Meer Asif Aziz has stated on Twitter that JK Rowling is next - for her views!!

If one writer can be silenced or killed then we can all be. We cannot allow this legitimisation of the murder of an artist in our world. To kill one imagination is to kill all our imaginations. It is too late in the day to turn back the clock of human liberties.

Throughout history, the thoughts that will take us forward have often been censored but the thoughts that liberate us always triumph in the end - often over the corpses of those brave enough to take a stand.

❛❛ The thoughts that liberate us always triumph in the end – often over the corpses of those brave enough to take a stand ❜❜ In 2020, 69 journalists were murdered for their views or for what they wrote.

And this is not just about journalistsnone of us can function without a measure of courage. Our lives would be intolerable without freedom of thought.

23www.platinummediagroup.co.uk It is NOT your right to kill me for those views and anyone who feels it is, should be sanctioned immediately and the killer should be sent for trial and would likely be jailed for life for first degree murder. There is no defence in UK law, or most other countries, for murder for religious reasons. Murder is murder.

We saw how the pandemic changed some long-term plans signifi cantly. In some cases, income needs and risk appetites altered. Whilst technological developments have significantly ❛❛ Nothing in life stays the same.

24 www.platinummediagroup.co.uk PERSONAL INVESTMENT

Guiding is one of the cornerstones of a discretionary management relationship. It is a common misconception that the relationship sees clients relinquish all control of their investments. The best outcomes are achieved by working with clients as partners, where there is a clear collaboration to deliver the right outcomes.

Brexit. Covid. War. Infl ation. Not an exhaustive list but these landmark events have caused world stock markets to be volatile over the last seven years. If you are an investor (and this includes your pension), do you know who is actually responsible for your investments day by day? You?

It is clear nothing in life stays the same.

Current inflation rises are proof of that ❜❜

You don’t have to look as far back as this TV classic’s heyday to have experienced fairly seismic shifts in investment markets. Charlotte Aspinall, Senior Investment Manager at Mattioli Woods offers some guidance

As an investment manager with over 20 years’ experience, my main role, at times of seeming capitulation, is to remind clients of their ultimate objectives and where appropriate to discourage the natural urge to deviate from the long-term strategy, until the worst is over. Whilst it is undoubtedly tempting to turn to cash in uncertain times, history tells us that it can be the very worst thing to do. By the time investors feel confi dent to go back to the market, it is usually when prices are rising, and the predominant emotion is fear… of missing out.

As opposed to buying an investment product, discretionary management is an ongoing service which continues long after the initial agreement is in place. We work with our clients to provide an appropriate strategy to meet specifi c needs, whether that is a longterm capital requirement or for income, perhaps to replace earned income, or more commonly, to supplement income in phased retirement. Requirements clearly evolve over time as our clients moves through their life, and at Mattioli Woods, we’re proud of the role we play within the families we look after, advising and managing the different generations’ needs. We combine expert investment management with highly experienced financial planning, to ensure that a client’s investments are held, managed, and drawn upon in the most effi cient and effective way.

ARE BEINGYOUSERVED?

A computer algorithm? A large investment house? Someone, a human, you can trust and meet with regularly? Events such as the Lehman’s collapse in 2008 had a profound impact on global stock markets, investors’ attitude to risk and the regulatory environment, for both institutional and retail investors. Brexit turmoil saw a sharp fall, but an equally sharp recovery, as did, to some extent, the downturn we saw during the early part of the pandemic.

STAY CONNECTED

Current inflation rises are proof of that.

WORKING WITH CLIENTS

It is therefore essential that clients have regular, personal contact with their investment manager and not just a periodic statement of investment performance. I maintain regular contact with my clients, ensuring that I am fully up to date with any changes in circumstances, plans or indeed their thoughts and feelings about their financial future.

changed the way business is conducted, meeting clients in person really does provide a greater depth of under standing when managing financial objectives and investments. This is something I have always valued.

Mattioli Woods plc is authorised and regulated by the Financial Conduct Authority ness at any cost, but getting the right fit for both client and manager.

Within our bespoke portfolios, we look to invest in a wide range of investments, from direct equities to managed funds and exchange traded funds (ETFs).

Many of our clients do not have either the time or desire to be heavily involved with their investments. At the initial stage, it is important that we are aware of the client’s experience of investing –what are their expectations? Two clients could have a similar risk appetite but may have portfolios which look quite different in terms of composition. This could be down to their preferences, experiences or the size of their overall assets and investment objectives.

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PERSONAL INVESTMENT

An increasing number of individuals are seeking advice with regards to their investments; indeed, we are seeing governments actively encouraging indi vidual accountability for retirement provisions. Apart from the property in which we live, a pension may be the largest asset we own during our lifetimes. With such a valuable asset, isn’t it important that investors ask the question – am I just a number or am I being served?

So, what does a discretionary invest ment strategy look like? The short answer is there is no blueprint. You may have the financial capacity to take on a relatively high degree of risk, with a proportion of your assets; however, you may lack the appetite for stock market volatility. There is little point in having a high-risk portfolio if the result is Likewise,insomnia.a client may have the desire to take on a high degree of risk, but ulti mately relies on the funds to maintain a relatively modest lifestyle. It is for us to provide the appropriate solutions and to comprehensively explain the possible outcomes. It is not about winning busi Charlotte Aspinall, Senior Investment Manager at Mattioli Woods E: charlotte.aspinall@mattioliwoods.com T: 020 8936 3970

❛❛ It is not about winning business at any cost, but getting the right fit for both client and manager ❜❜

A bespoke service can tailor investment solutions to meet specific needs, main taining the flexibility to accommodate any changes, which life inevitably throws at us all.

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“July data indicated a slowdown in activity growth in the South East’s private sector with the headline figure the lowest for almost a-year-and-a-half. Demand was once again impacted by high prices, material shortages and market uncertainty. Input costs have remained elevated for the last year or so, exacerbated by the war in Ukraine and lockdowns in China.

Anecdotal evidence suggested that while some companies faced a pick-up in demand, others reported that clients were reluctant to SENTIMENTspend.LOWEST

ECONOMYNATWEST'SMARKETANALYSIS

NatWest London and the South East Regional Board:

New order growth quickened in July, thereby extending the current sequence of expansion to 17 months. The rate of growth was modest overall, slower than the long-run series average and the second-weakest since March 2021.

Sources: Natwest, IHS Markit 40506070302010 52.7 July 2022

The Export Climate Index fell from 52.3 in June to 50.2 in July, to signal 25 consecutive months of improving demand conditions in export markets. That said, the rate of growth slowed notably from June, and was only slight.

Optimism in the region was slightly stronger than the UK average.

SINCE APRIL 2020 Sentiment regarding output levels over the year ahead remained positive in July but moderated to the weakest in 27 months amid concerns over the global economy, political uncertainty, rising prices and weak consumer demand.

“Despite the fairly challenging economic environment and back-to-back reductions in backlogs, firms were still committed to raising their head-counts which they did so sharply and in hopes of greater demand in the coming months.

Meanwhile, Germany and the US registered a renewed contraction in output with the latter registering the quicker reduction.

07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 40506070302010

DEMAND AND OUTLOOK NEW ORDER GROWTH QUICKENS, BUT REMAINS HISTORICALLY WEAK

NEW BUSINESS INDEX sa, >50=growth since previous month 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22

Of the region’s top five export markets, Ireland recorded the strongest uplift, followed by the Netherlands and France.

› COMMENT

The South East Export Climate Index is calculated by weighting together national PMI output data according to their importance to the manufacturing exports of the South East. This produces an indicator for the economic health of the region’s export markets.

WEENENVANCATHERINE

EXPORT CLIMATE INDEX

“The South East, and indeed the UK, face a tough few months ahead as recession concerns loom and inflationary pressures remain.”

Firms in turn noted a weaker rate of optimism which was the lowest since the pandemic began in the first half of 2020.

>50=growth since previous month

Sources: Natwest, IHS Markit50.2July 2022 EXPORTS EXPORT DEMAND GROWTH GRINDS TO A NEAR-HALT

BACK-TO-BACK REDUCTIONS IN OUTSTANDING BUSINESS

INPUT PRICES INDEX sa, >50=inflation since previous month 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22

OUTSTANDING BUSINESS INDEX sa, >50=growth since previous month 40506055453530252007 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22

ECONOMY

Sources: Natwest, IHS Markit 405060809070 83.9 July 2022

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MARKED AND ACCELERATED UPTICK IN HEAD-COUNTS

Sources: Natwest, IHS Markit 49.2 July 2022

REMAINS ELEVATED, BUT MODERATES Cost burdens faced by businesses in the South East continued to rise substantially in July, continuing the run of inflation that began in June 2020. Despite moderating to a five-month low, the rate of increase was among the fastest in the survey’s history amid supply chain friction, rising fuel prices, and growing material costs. Manufacturers continued to note the steeper rate of input price inflation compared to their service sector

A slight increase at the UK level contrasted with a reduction in the South East.

Sources: Natwest, IHS JulyMarkit57.3202207 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22

EMPLOYMENTcounterparts. INDEX sa, >50= growth since previous month 40506065554535302520

PRICES INPUT PRICE INFLATION

Staffing levels at private sector firms in the South East rose at a robust and accelerated pace in July, thereby stretching the current run of growth to 17 months. In fact, head-counts rose at the quickest pace for nine months, and at a rate that was far above the historical average. Firms reportedly raised workforces in line with growing output projections. Of the 12 monitored regions, the South East recorded the strongest increase.

Outstanding business at private sector companies in the South East fell in July, thereby signalling two successive months of decline. The rate of reduction was marginal with panel comments indicating that weak demand and improving material availability contributed to spare capacity.

❛❛ New order growth quickened in July, thereby extending the current sequence of expansion to 17 months ❜❜ CAPACITY

BUSINESS

Innovation in Business Award Sponsored by Young Achiever of the Year Sponsored by Best ServiceCustomer Sponsored by BusinessInternationalofthe Year

Chief Financial Officer of the Year Sponsored by This award aims to recognise the CFO who has had the most positive impact on people, profit and environment. The individual has inspired and influenced the people around them to achieve growth and build a sustainable business of the future.

ofCompanytheYear Sponsored by Large Business of the Year Sponsored by Medium Business of the Year Sponsored by GrowthBusinessAward Sponsored by

Sponsored by HeroCommunityAward Sponsored by IndustriesCreative Award Sponsored by ServicesProfessionalAward Sponsored by

This Award aims to recognise a business that has made signiﬁcant strides in their ﬁeld, be it developing a new product or by introducing a new process or system to an existing business.

Recognising an individual who stands out from the crowd, has an entrepreneurial spirit, demonstrates outstanding achievement and inspires others around them.

Recognising outstanding businesses which operate in the creative and digital sectors (PR, advertising, architecture, art, crafts, design, fashion, film, music, photography, performing arts, publishing, software, toys/games, TV/radio and/or video games). This Award aims to recognise excellence in regulated sector management underpinned by a strong financial performance and adherence to a professional code of conduct. This category covers a wide range of professional services including legal, financial, recruitment and consultancies.

The winner of this award will be selected from the finalists in all the other categories. This Award will be chosen by the sponsor and recognises a business they feel stands out as an inspiration to other businesses. This Award aims to recognise a business that has demonstrated outstanding achievements in all aspects of their organisation. The business will illustrate strong growth, innovation and leadership as well as a clear vision. Open to all businesses with a turnover over £5 million. This Award aims to recognise a business that has demonstrated outstanding achievements in all aspects of their organisation. The business will illustrate strong growth, innovation and leadership as well as a clear vision. Open to all businesses with a turnover between £500,000 and £5 million. This award recognises a business which, through outstanding vision and leadership, has achieved significant and sustained growth. Entries are open to profitable businesses that can demonstrate an increase in employed staff over a two year period.

Recognises an individual or business whose contribution to society makes a substantial difference to the lives of others.

This Award aims to recognise a business that exceeds customer expectations in all areas of the business by providing the very highest level of customer service.

Recognising the achievements of a young professional aged between 16-30 who has achieved a level of business success that deﬁes their age. Their story will demonstrate tenacity, determination and will be known by peers/mentors as ‘one to watch’.

This Award is open to any business based in, or conducting the majority of its overseas business from, an operational base in Sussex. The company should demonstrate healthy import/export activity and good trading relationship with any country outside of the UK.

Sponsored by

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Small Business of the Year Sponsored by Start-up of the Year Sponsored by Employer of the Year Sponsored by

Recognising a business with entrepreneurial aptitude, vision, ambition, drive and commercial acumen to build a successful enterprise from start-up.

The business must have started to trade no earlier than March 2019 and no later than October 2021. Recognising a business that has created a healthy and supportive work environment with a genuine commitment to the wellbeing of its employees.

Regardless of the issue involved, it is more important now than ever before that these conversations are handled correctly to ensure your employees feel heard, understood and respected. This will ultimately achieve a mutually bene ficial goal. If you get it wrong though, you could score an own goal! Why has handling these conversations correctly become so important? Firstly, it helps you to retain staff who will be more engaged and more productive. 92% of highly engaged employees believe they feel heard in the workplace. When employees feel heard, they also feel empowered to initiate difficult conversations when an issue arises.

❛❛ No matter how brilliant your mind or strategy, if you’re playing a solo game, you’ll always lose out to a team ❜❜ Reid Co-FounderHoffman,of LinkedIn

‘Speak and be heard.’ It’s the sound advice Pam Loch of Loch Associates is offering to employees and managers alike in order to help stop small issues become larger problems In the past having difficult conversa tions with your teams was not a common occurrence. Life has changed though and nowadays those conversa tions are more frequent and extend beyond the usual work-related situa tions involving performance, career development and pay rises, to more personal issues, including health concerns and personal problems.

30 www.platinummediagroup.co.uk LEGAL ❛❛ It is more important now than ever before that these conversations are handled correctly ❜❜

Although this may be harder to deal with than simply brushing issues under the carpet, it creates an opportunity for changes to be discussed and to resolve any concerns before they become a bigger problem, avoiding the risk of staff opting to resign. It is always better to deal with any concerns as they arise rather than having a more complex situ ation to sort out later down the line.

Nipping it in the bud is the best approach and that enables managers to use their time and resources to help their team to be focused on achieving performance goals, leading to higher retention rates.

If sensitive issues are mishandled however, employees are more likely to become demotivated, disloyal and speak negatively. They may even post anonymous, negative feedback online about the employer. All of which can have a detrimental effect on a compa ny’s reputation and success.

Why it’s no longer ‘a little less conversation at work’

A common mistake managers can make is not reacting to situations as seriously as they should do. This is especially true when an employee raises an issue informally. If the proper reaction is not taken in the first instance, this can quickly lead to a formal griev ance which may spiral into a resignation and then an Employee Tribunal, if not resolved. Therefore, it’s important to consider any issues, and take them seri ously. This makes employees feel supported. After that, ascertain what the correct procedural response should be once you have considered the issue.

To sign up to our next training session on September 20th 2022, visit PLATINUM2020%readerandtraining-tickets-379188090787nip-it-in-the-bud-management-www.eventbrite.co.uk/e/usetheexclusivePlatinumdiscountcodetoreceiveofftheticketprice:

5 When the conversation is ending and before you take any further steps, reflect back and summarise the conversation, to ensure there are no Ourmisunderstandings.straplineatLoch Associates Group is ‘People are our business’; they are your business too. A company’s success depends on its team and the effective management of it. Managers must have these difficult conversations to manage effectively. They need to have the skillset to do that, which is why we offer our popular ‘Nip it in the Bud’ training sessions to help managers acquire those skills and give them confi dence to have those tough or tricky conversations!

4 Ensure the person doesn’t feel judged or dismissed.

Here are some simple suggestions to keep in mind, which we may forget when we are busy:

3 Empathy is key. Attempt to under stand what the person is feeling and ask questions for clarification if you don’t feel you’ve fully understood the issue. ❛❛ It’s important to consider any issues, and take them seriously. This makes employees feel supported ❜❜

READERPLATINUMEXCLUSIVEOFFER

Pam Loch, Solicitor and Managing Director of Loch Associates Group E: www.lochassociates.co.ukinfo@lochassociates.co.uk

Often a team member will approach you about a sensitive subject with little or no warning. It’s not uncommon for over sharing of personal information as well, and you cannot dismiss it out of hand because it may impact on the individual, their work and the team. Therefore, it’s vital to know how to respond.

31www.platinummediagroup.co.uk LEGAL

2 Make sure you are in an environ ment and have a mindset where you can give your full attention. Do this away from potential distractions so you can understand and consider what they are saying.

Listening more than speaking is key. Allow the individual to speak and feel heard when talking.

Alan Wares attempts to unravel the unravelable…

32 www.platinummediagroup.co.uk BIG

And all of this raises an even bigger question, pertinent to the UK population as a whole - where is the Opposition?

It is of no concern or consideration that the incumbents are the Conservative Party - that’s largely irrelevant - nor that many members of the party now feel they have no voice, this has been an administration of breath-taking hubris and corruption.

SOSTORYWHERE IS THE OPPOSITION?

With the Conservative Party having been in complete turmoil, Labour ought to be making hay from such upheaval, especially with the manner of Johnson’s resignation. However, their lead in the polls is miniscule. This leaves much of the country asking…

And what ‘went before’ was something never seen in politics in the UK; it tran scended party politics, and went way beyond previous Westminster play ground petulance.

From wilful misleading of Parliament, to outright lying to Her Majesty the Queen; from the cost of living crisis to unlawful multi-billion pound contracts being handed out to the most inappropriate companies; from an ambivalence to their own lockdown laws, to a blatant disregard for their own international treaties. And more besides.

Liz Truss cannot stray too far from the Conservatives’ 2019 Election Manifesto in terms of what she wishes to get done, and this will likely taint Truss - especially as she has been party to what has gone before.

We now know that the new leader of the Conservative Party, and Prime Minister of the UK, is Liz Truss.

Of course, the Truss campaign may well be largely forgotten by the time she enters No.10. It’s one thing appealing to your grassroots party membership; it’s another issue governing the world’s sixth largest economy.

Smith’smovement.early

❛❛ In the mid-1990s, Tony Blair enjoyed the patronage of Rupert Murdoch. To many on the left, that was seen as a betrayal ❜❜

So given that Labour is only four points ahead (at a time in the administration when Tony Blair was constantly 20 points ahead), is Sir Kier Starmer the problem?

33www.platinummediagroup.co.uk BIG STORY

WHAT WENT BEFORE In the 1990s, when then-Prime Minister John Major was struggling to hold together a coherent, functioning government with a faction-split party (mostly down the ubiquitous Tory fault line of ‘Europe’), Labour was able to offer a credible alternative, first with John Smith, the modernising leader who sought to water down the power the trade unions had within the Labour death brought in Tony Blair, cut from the same cloth, who continued to appeal to the centre Today,ground.given the calamitous and often illegal behaviour of many members the current government, the opposition ought to be miles ahead in the polls. So why are they not?

The leadership could - and maybe should - be hammering the government relentlessly. There is the argument, as Napoleon Bonaparte pointed out of never interrupting your enemy while he is making a mistake, meaning Labour is careful in taking its pot-shots.

It’s not unreasonable to say that, certainly since the Brexit referendum, UK politics has been far uglier, dirtier, seedier and more polarised than ever before - and that includes the far left’s hapless efforts to unseat a very unpop ular Margaret Thatcher in her first term in office.

In the mid-1990s, Tony Blair enjoyed the patronage of Rupert Murdoch. Even the Telegraph, while still supporting the Conservatives, could see how tired and ineffective their party was becoming, and acknowledged a certain merit in letting someone else have a go.

To many on the left, that was seen as a betrayal, but since the deregulation of the press in 1981, unelected, often foreign or non-dom newspaper barons have set the political agenda. And the agenda from these barons has rarely been positive for Labour.

Labour will always be in the spotlight of having to fight not just for the political centre ground, but for a centre ground many commentators keep on shifting.

The YouGov polls for the first week of August 2022 put Labour four points ahead of the Conservatives. Three weeks earlier that gap was 11 points, and that bounce may well be on the back of Boris Johnson eventually announcing his resignation. However, four points is a pitiful lead considering what has been going on since 2019. Is it the personnel? The poli cies? The perceptions?

34 www.platinummediagroup.co.uk BIG STORY Labour, like most parties, is a broad church of political opinion. It largely abandoned its hardened socialist princi ples in the 1990s when the shifting sands of public opinion saw that working class people alone would not be able to get them back into power. The behaviour of their part-pay masters - the trade unions - during the 1960s through to the late 1980s didn’t help the cause. Their interference in political matters, rather than concentrating purely on workers’ rights issues, led many to believe that they had overplayed their original remit. The issue with that today is that many believe that’s how the unions are seen now, 40 years later.

And this is where, for many floating voters that all parties rely on, Labour took its decision to - wrongly - head left. The favourite for the leadership was David Miliband, previously the foreign secre tary under Gordon Brown. A policy advisor to Tony Blair before he took office, he was seen as representing a continuation of the New Labour project, and a safe pair of hands.

However, not everyone in the Labour movement was pleased. Many felt that they didn’t have their man in place at No.10. Blair moved quite a way to the right, so much so that he couldn’t call his party ‘Labour’ without keeping a straight face. So ‘New Labour’ it was. Meanwhile, for ‘traditional’ Labour members, it meant the Conservatives were no longer in power - so they played along. When the succession of Blair (clearly the safer pair of hands) to Gordon Brown (a safe pair of hands, but had to suffer the indignity of not being Tony Blair) took place, the wagons started circling. The banking crash of 2008, while not being Labour’s doing, still happened on their watch. So for them, the honeymoon period with the tabloids was up. This leads us to 2010. Gordon Brown lost the General Election. He could have formed a minority government with Nick Clegg’s Liberal Democrats, but the latter chose the largest party to form a coali tion Thiswith.leftLabour at a crossroads; do they continue with the previously-successful New Labour project, or did they look to find a new path?

Labour’s heyday was, of course the end of the 1990s, and into the first decade of this century. Two unprecedented land slide General Election victories sought to herald and new dawn for British politics.

He was nominated by the largest number of MPs, and - without taking up too many column inches explaining Labour’s elec toral college system - won the clear vote of MPs, MEPs, and regular Labour Party

After his defeat, David left Westminster in 2013 to take up other projects in the United States, where has remained since. Some in the party want him back, as they believe he could be doing better than the current incumbent in opposition. But nine years out of the loop? Even Harold Wilson pointed out ‘a week is a long time in poli Astics’.for Ed Miliband’s time as a leader, he did not gain the traction of an electorate that is still suspicious of trade unionism within politics. He was geeky, a political nerd - unlike the more suave David Cameron. The PM appealed far more to those who take presentation over content.

With hindsight, it’s tempting to consider how the Labour Party would have fared under David Miliband in opposition from 2010 to 2015. Certainly he presented very well and very passionately. Would David have done better in the 2015 General Election? Very possibly. Would he have kept a more divided part together in that time? That is something that many within the Labour Party look back on, mournfully wondering, ‘what if…?’

The untimely death of John Smith in 1994 almost certainly denied the UK of a leader many could believe in, especially given John Major’s government’s behaviour at the time. This has been glossed over by the fact that Tony Blair took on much of Smith’s reforms, and managed two landslide victories. ❛❛ This has been an administration of breath-taking hubris and corruption ❜❜

However,members.it was the third branch of the college branch that did for him, and he was beaten by - of all people - his younger brother Ed. Ed was supported by the trade union members and affiliates whose vote makes up the final third of the college system. The support for junior within the trade union movement far outweighed the support David had within the other two branches.

OTHERS WHO GOT AWAY JOHN SMITH

Successive government bills have seen the power of the trade unions severely curtailed, and they no longer have anything like the political clout of the 1970s, but the perceptions remain.

THE ONE WHO GOT AWAY?

The main reason he won, according to political commentators, was because he was the only one who opposed the government’s austerity policies.

For a party who have spent 12 years out of government, Labour have got through relatively few leaders. A real jolt to the political universe was felt when long-standing back bencher, and outsider, Jeremy Corbyn, won the 2015 leadership election.

Tackling an administration through the legislature that has an 80-seat majority is extremely difficult.

Is Starmer there yet? Is the Opposition properly there yet? There’s only one way to find out…

So is he making a decent fist of it? The main priority for Sir Kier Starmer at present is that he is not fighting a General Election now, though many wish that to be the case. He will be fighting a General Election at the end of 2024. Until then, it has always been the case that opposi tion parties like to keep their powder dry during mid-terms, whether they have formulated policies or not. That, for many, isn’t good enough.

Since that most recent election, Starmer has had to stand up, in his role as Her Majesty’s Leader of the Opposition, and hold a government unbothered and ambivalent to its many shortcomings to Starmer,account. rightly or wrongly, is being compared to Tony Blair, who consistently held a lead while in opposition, and usually a big one. The picture is different now; politics is dirtier and more unpleasant; and a new epic scale of corruption that appears now to sit front and centre within the political arena is not something everyone knows how to deal with.

While a General Election is due to be held in two and bit years’ time, what Starmer’s supporters - and maybe even those who hitherto voted for Johnson but who now want something else - would like to see is an effective Opposition; landing the blows, calling out the untruths (some thing for which Johnson is not out of the woods from) - all the while supporting the government where appropriate - and being ready at a moment’s notice to fight for office, should the call come.

The fact he was able to make in-roads on by now-Prime Minister Theresa May’s government majority after the 2017 General Election was not some thing expected inside nor outside of the Butparty.even for the cult status - or maybe because of it - he divided the party, and he was never going to be able to command a majority in the House.

LIZ KENDALL Liz Kendall was a challenger in the 2015 Labour leadership election. She was to the right of the party –so much so that many in the party dismissed her as ‘Tory-lite’. She was, however, according to many political commentators, the one the Conservatives feared the most. In the end, she finished a distant fourth. Again, it would have been interesting to see which direction she’d have taken the party. Her lack of dynamism was among the reasons for her not doing better.

35www.platinummediagroup.co.uk BIG STORY

POST MILIBAND

The opposition, licking its wounds – and really not expecting the kicking they got – chose former Director of Public Prosecutions, Sir Kier Starmer to lead.

Every government needs an effective opposition. This can either kick the government into doing the right thing, or make the electorate see that the Opposition may well be able to do better.

ANDY BURNHAM Like David Miliband, there are many within the Labour Party who would like to see the return of Andy Burnham. He stood down from his seat in 2017 when he became Mayor of HeManchester.wasachampion of the Hillsborough victims, of tackling homelessness, and he regularlymostly successfully - challenged government when he felt that too much assistance money during Covid-19 was being spent in London.

❛❛ Labour’s heyday was, of course the end of the 1990s, and into the first decade of this century ❜❜

SIR KIER Corbyn’s tenure came to an end after a crushing defeat for Labour in the 2019 General Election. It’s an election which has since become one of the most infamous in history as one where the Government has largely ignored its own manifesto, going back on several promises.

Hire purchase, sometimes called lease purchase, will be familiar to most of us. It is a common way for businesses and, of course, individuals looking to buy expensive pieces of equipment with a view to eventually owning them. Payment terms are fixed over an agreed number of months. This remains popular with businesses with a predictable cash flow. Assets purchased in this way will usually be shown on a company’s balance sheet with payments shown as reducing a liability. A company can claim capital allowances on hire purchases, offsetting expenditure against taxable profits.

Assets purchased under a finance lease are typically treated in much the same way as a hire purchase agreement with the asset being recognised on a company’s balance sheet. There is, however, one notable difference. Tax ownership remains with the leasing company which can claim capital allowances. The depreciation charge will generally be an allowable tax deduction for the company leasing the asset.

Financing business assets – a guide for SMEs

A finance lease, sometimes called a capital lease, is effectively a rental agreement. As with hire purchase, a fixed monthly fee is agreed over a set time frame. The leasing company will own the asset and whilst it may be possible for the business renting that asset to benefit from a percentage on any future sale value, it will never own that asset.

Where a company applies International Financial Reporting Standards (IFRS 16), almost all leases are recognised on the balance sheet by recognising a right-of-use asset and a corresponding lease liability.

Assets held under operating lease are not shown on a company’s balance sheet, and the rental costs are deducted from profits. The tax treatment for an operating lease will follow the accounting treatment.

FINANCE LEASE

HIRE PURCHASE

UK generally accepted accounting practice (UK GAAP) – whether FRS 102 or FRS 105 – makes a clear distinction between operating leases and finance leases, based on an assessment of multiple factors. For example, operating leases tend to have a much shorter term, relative to the entire working life of that asset; and the total cost of an operating lease is likely to be much less than the fair value of the leased asset.

36 www.platinummediagroup.co.uk FINANCE

Businesses will have a continuous cycle of purchasing or investing in new assets – from IT equipment to vehicles, manufacturing plant to tools of a trade. There are many different ways a business can finance that investment, writes Rachel Emmerson, Business Advisory, Accounts and Outsourcing Senior Manager at Kreston Reeves

Here is my short guide to the most common ways a business can finance new assets or refinance assets they already own.

Our Shaping your future research reported that a fifth of businesses plan to undertake major investment in new technology in the next two years. This investment will sit alongside further investment in the assets that a business needs to build and grow.

With the cost of investment often high, outright purchase is rarely an option. There are now many ways a business can fund those purchases, supported by a sophisticated asset finance industry.

HOW KRESTON REEVES CAN HELP Businesses looking at the financing or refinancing of assets will need to take into account a number of issues, including cashflow and tax. Not all routes will be appropriate for all Webusinesses.havespecialist teams that work alongside businesses to advise on financing business assets. UK financeoperatingdistinctionpracticeacceptedgenerallyaccountingmakesaclearbetweenleasesandleases

The super-deduction was designed to stimulate business investment in plant and machinery, and will be available for qualifying expenditure incurred from April 1st 2021 up to and including March 31st 2023. The super-deduction provides for 130% capital allowances on most new plant and machinery acquired by companies. The aspect that makes the relief ‘super’ is that the relief obtained is more that the expenditure originally incurred. Where the accounting period spans April 1st 2023, the 130% rate will be apportioned based on the days prior to this date over the number of days in the period. If we use a December 31st 2023 year-end as an example, the superdeduction will be 107.4%.

❛❛

FINANCE

Businesses can use assets they own to raise finance to purchase new assets.

CONTRACT HIRE Contract hire is used exclusively to finance vehicles and is valuable for businesses that wish to spread the cost of fleets without the cost of maintenance and upkeep. Costs are fixed each month based on the value of the vehicle, the anticipated mileage and its estimated future value. At the end of the hire period the vehicle is handed back.

REFINANCING ASSETS

A twist on the contract hire agreement; a PCP agreement provides the lessee with the option to purchase the vehicle at the end of the initial lease term for an agreed sum. The accounting can vary depending on the terms of the lease, resulting in either an operating or finance lease. Again, the tax treatment will depend on the terms of the lease.

Because these contracts do not typically transfer the risks and rewards of ownership, they are likely to be classified as operating leases for accounting purposes and the tax treatment will likely depend on the terms in the lease agreement, all will need to be checked individually.

PERSONAL CONTACT PURCHASE (PCP)

The tax implications of a sale and leaseback transaction are complex and the tax treatment will be dependent on the terms of the agreement. We would recommend you seek tax advice ahead of completing a sale and leaseback transaction.

CAPITAL SUPER-DEDUCTIONALLOWANCES

The second, more commonly called asset-based lending, involves the company selling that asset to an asset finance provider and leasing back that asset for an agreed monthly sum. This releases capital to allow the business to invest.

❜❜

If you would like support or guidance in this area, please get in touch. Alternatively we have a library of helpful content to support businesses with their planning www.krestonreeves.com/shapingyourfuture.

Ensure you maximise this relief by accelerating any capital spend before the end of your next accounting period.

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The resulting lease will need to be assessed as either an operating or a finance lease. This assessment will drive the accounting treatment, with implications on the recognition or derecognition of the asset, and the new lease liability.

Rachel Emmerson can be contacted by email at rachel.emmerson@krestonreeves.com, or call 0330 124 1399.

There are two straightforward ways to approach asset refinancing. The first is to use the asset as security on a loan. If the business defaults on that loan, the asset will revert to the funder.

writes Fiona Dodd, Partner at Mayo Wynne Baxter

PLANNING FOR FUTURE CARE COSTS –TRAPS CONSIDERATIONSAND

Planning ahead for care costs is not as straight forward as some may think. Independent advice may be required to tiptoe through the legal minefield,

Every parent wants to provide for their children, even when their children are grown up. It’s an instinct to try to pass on as much as possible on your death.

Inheritance tax used to be the main worry, but successive governments have introduced changes to legislation which have removed much of the sting.

Many people see it as a tax on hard earned savings and investments in later life. It is not a tax. The cost is payable directly to the care home. The govern ment feels that if you can afford to pay for your care, you should. There’s a safety net in that the local authority (LA) will pay if you are unable to do so your self, like those who cannot afford a home, get council accommodation. There are strict capital limits. If you have more than £23,250 in capital, you will be required to pay the full cost of your care. Certain assets are disre garded such as property still occupied by your spouse, some insurance poli cies, and some pension income.

Attention has now turned to the cost of care, both in the home and in residential settings. Care costs can regularly reach £1,500 per week.

38 www.platinummediagroup.co.uk LEGAL

LEGAL

Many couples who have children have a dilemma. As a spouse, they want to provide for each other, as a parent they want to pass as much as possible to their children. The dilemma is how to achieve both, or at least reach a deci sion they are happy with. If they leave everything to each other, then it may all

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There are ways of drafting Wills for couples to ensure that some, at least, of your assets are protected for your chil dren, whilst still providing flexibility for the survivor to move home or spend their money as they see fit. This is a very complicated area of law and people do need to take specialist, experienced, impartial Whateveradvice.acouple decides, it is the fact of making an informed decision that is more important than the actual deci sion itself. Plus, it helps the children to know that whatever happens, their parents were prepared.

❛❛ It is the fact of making an informed decision that is more important than the actual decision itself ❜❜ It’s tempting therefore to try to give everything away to family before entering a care home. However, this would not be effective. The LA will refuse to provide funding, even if your assets are below £23,250 if they believe that you’ve taken action to put assets beyond reach to avoid paying care fees, or when they feel it is foreseeable that you may need care in the not-too-dis tant ‘Action’future.can be making gifts, going on a spending spree, putting assets into trust, or simply taking an expensive holiday. Not only can the LA refuse to pay for the care, but they have the power to seek to reclaim that money, or chal lenge trust arrangements. They can challenge actions taken many years before care is needed if they believe that the action was done to avoid care costs later in life. There is absolutely no time limit for a “safe” lifetime action, no matter what anyone may tell you.

go in care costs, but the survivor can choose the best care home. If they bypass each other, their children will inherit more, but the survivor may have to sacrifice some comfort for this.

Fiona Dodd, fdodd@mayowynnebaxter.co.ukPartner

He strode very purposefully towards me, standing tall in his boots and jeans, a mop of wild blonde hair, hand outstretched for a hearty handshake and said: “Hello – right, please can you help me sort my team out?”

❛❛ Clients that trusted us and put their faith in us would not have been able to get through [the pandemic] without the help of LMS Group ❜❜

LMS Group is an award-winning technology company, full of experts that provide the best possible IT Support, IT and cloud services, technology strategy, cyber security, communications and connectivity for small to mid-size businesses. A leading Microsoft Gold and Cisco select partner, it covers London and the South Coast.

40 www.platinummediagroup.co.uk BUSINESS

And that is Luke. Bold and straight to the point, a high-energy entrepreneur who does not suffer fools gladly and wants the very best for his team. Always. What he doesn’t know, like any wise leader, he seeks help with.

IT RAISINGSUPPORT:THE BAR

I first met Luke Mead, CEO of LMS Group, way back in autumn 2014, when he was just 23. By Fiona Shafer

Fast forward eight years to 2022, and Luke has indeed sorted his team out; and they in turn have helped Luke to grow a thriving, profitable, highly accredited and well-respected technology business turning over £3.2 million.

What do they think of your success now? I don’t know. I am not successful in my eyes – I just run a business.

I didn’t know what I wanted to be – I lived for the moment to be honest.

I remember aimlessly staring out of the window when my Dad was looking after my younger brother and I. He’d always fall asleep during the day. He’d come home extremely tired after working all hours as a London firefighter, having had little to no rest. He also had a part-time labouring job too; he’d fall asleep in the chair in front of Match of the Day. Mum was out at work, she was a part-time waitress, making ends meet as it was all a bit hand-to-mouth growing up. I never wanted to be anything. I vowed when I was a spotty teenager never to work in IT as I just saw it as really boring and dull. So it’s all rather ironic that I now work in technology. I was a right little so-and-so at school as I was not challenged and, to be honest, I found it too easy and got quickly got bored.

So how exactly did this all come about? As a child ,what did you want to be when you grew up?

What is the biggest life skill that your Mum and Dad have instilled in you? Understanding and appreciating hard work and not living beyond my means.

❛❛ I don’t have to work five days a week at all now but I choose to as I love it so much ❜❜ Are there other entrepreneurs in the family? No. I think I may have broken the mould with LMS Group.

At the end of the day, I am their son and as long as I am happy and healthy, that is all that matters to them. Also, it’s not about me anymore. I’m just the one that opens the door to their grandchildren when they pop over.

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Were there any teachers who managed to influence you at school? Yes – 100% – Mrs Stewart, my tutor in years 10 & 11. She gave me amazing support during the time when my best friend died. She believed in me and said I must work with computers. At the time it was what I was good at and I was already capitalising on fixing local residents’ computers from my bedroom when I was at school. She really pushed me and had tears in her eyes when I finally said I had applied to go to Chichester College to do a BTEC in IComputing.havealways been a bit of a tinker. I want to know how everything works, having an inquisitive mind has probably carved my path in life. For instance, at primary school, the school had a new security door installed which probably costs several thousands of pounds and I was caught picking the lock with a paper clip not long after it had been installed. On another occasion my mate and I ‘borrowed’ the stereo remote control from his dad’s new 5-Series BMW and used it to turn up the school PA system during assembly.

You have recently moved from MD into the CEO role – which part of your role do you enjoy most?

How would your two young children describe their Dad? Fun! The smiles that I get when I walk through the door are just magical –that’s really fulfilling. Are you as ambitious as you were when you first set up the business? When I started up, I was hungry! Everything was new and I had ‘shiny object syndrome’. There is a clear difference between hunger and ambition. I was so young when I started, with no family and staff with depen dents. I was very happy-go-lucky, and did most things on a whim. I didn’t really know where I was going to take the business. I go back to what I said earlier about living for the moment, and suddenly it started to ramp up with each phase of growth making me think, “ooh, that’s new and exciting”.

When the pandemic struck, those clients that trusted us and put their faith in us would not have been able to get through it without the help of LMS Group. A couple mentioned this in a client video testimonial/case studies that we have been putting together.

42 www.platinummediagroup.co.uk BUSINESS

It’s quite poignant really, as our mission, vision and values are now at the core of everything that we do at LMS Group, through service delivery, recruitment and ultimately the success of our customers and colleagues.

Above and beyond anything else, it is seeing the team develop and grow. I love them all to bits, and it is just brilliant to see them flourish. Helping our clients grow and, in many cases, transform their businesses is amazing.

What would you say to your younger self if you went back to the start of the business? What do you wish you had known? Loads. You know how goal driven I am now, with goals, objectives and milestones? In the beginning, the business had no vision, mission, or defined values. The business and I were drifting.

You asked me in the earlier years about this, mission visit and values, and I remember saying these things were all ‘corporate drivel’. I guess I can link this back to my childhood, where I just took each day as it came.

❛❛ I love them all to bits, and it is just brilliant to see them flourish ❜❜

What is your definition of success?

But as for ‘am I as hungry or gunning for it now?’ My end goal now is completely different to when I started. As long as I can be fully present at home, financially free and unfettered I am happy. Many people, I believe, interpret that starting and running your own business is about making money, but I soon realised that methodology and way of thinking is a bit over-hyped. For me, it’s about buying time to do what I enjoy and developing and building others. I don’t have to work five days a week at all now but I choose to as I love it so Imuch.really enjoy the people development side of it now, watching people grow and flourish, which is quite ironic when you look back to when we first met!

My biggest success is my family; getting home and having a happy and healthy family. You can have all the money in the world but that does not mean anything if you don’t live by your core values.

And I love doing a good job for our clients and seeing their success through technology, and the smiles that are associated. It’s all about people, relationships, and helping others.

That is really fantastic. What has been your proudest professional moment? When lockdown struck it was hard. We are such a close-knit team, and we tried our very best to replicate the office vibe and maintain the interpersonal relation ships that we hold so close. We tried everything (as many companies did) from virtual Zoom quizzes, themed Zoom events, Zoom charades, Zoom murder mystery, but it wasn’t the same.

When not at home enjoying and spending time with his young family, Luke and his team can be seen abseiling towers and jumping out of planes in October 2022 to raise funds for The Sussex Snowdrop groupE:www.thesussexsnowdroptrust.comTrust:luke.mead@lms.groupwww.lms.

I buy business books like they are going out of fashion. Do I read them? Nope. I listen to a lot of podcasts. I really struggle to read words unless I really get into it, but that takes a while. I am a visual person. Give me a diagram or technical drawing any day of the week. What would irritate you most about you on a long-haul flight?

The truth is, there was a moment at our delayed Covid-Christmas party, whereby the whole team were gathered in the Technology Tavern and I looked around and saw everyone under one roof - together, happy, engaged and looking alive and full of energy. I was behind the bar, and I thought, “I have made it!” I felt so fulfilled and at that very moment, on top of the world! We handed out our own company awards that evening which were very funny indeed – but I was a bit too hammered to remember!

If I can’t be the best at something I just won’t do it. Which is such a bad tendency to admit. It’s not a competitive thing; it’s more about perfection. I aim for perfection in everything that I do which at time then frustrates me as it slows me down. How competitive are you on a scale of 1-10?

What is your business book and why?

I am curious if you win a client off another competitor? How does that feel? We onboarded a substantial new client with around 130 staff recently. I went to lunch with the owner of the incumbent IT provider that we were taking the contract over from – so that I think sums it up that question to a tee. It’s more important to build relationships than to burn bridges. What do you see as your key achievements in the past two years? It’s been a whirlwind! We’ve grown the company by around 200% in the past 24-month period (we’ve gone from nine to 27 staff); we’ve released a company EV scheme for colleagues that have been with the business for over two years; we’ve purchased a company Tesla; we’re merging into the group our telecoms business; we’re re-structuring some group companies to allow for an EMI scheme, and revenue this year will exceed £3.2m.

I think this goes back to my school days. I managed to hide myself up a tree at Primary School one sports day and my parents couldn’t see me in any of the races. It didn’t interest me. The following year I put two and two together, and realised that if I were to help with the PA tannoy and sound system for the teachers, I’d get a pass from being involved in having to sit in the middle of a baking hot sports field doing something that didn’t interest me. So, the next year meant I didn’t get a numb bum from spending all day up a tree and also meant I could sit in the Thisshade!is a classic example of how I use my creative mind to get the best out of a situation; call it problem-solving. I get a massive amount of enjoyment from other people’s success, especially my team.

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I remember one time the whole team were on a group call and everyone was a bit down in the dumps, it was relent less working in IT Support at the very beginning. A colleague mentioned he just wished we could all go to the pub like good old times, and so the idea of the Technology Tavern was born. I had an ‘aha’ moment! So, in answer to your question I guess I should say it should be something like an award or accreditation, but it’s not.

I am a massive fidget. Additionally, if you like dried nuts, I am the awkward one who has the tannoy announcement to say don’t open or consume any nut-based products - as I have a severe nut allergy. How do you relax? My idea of relaxing is something practical around the house. Just give me an odd-job to do whereby I don’t need to talk to anyone!

I am not competitive if I don’t care about something. However, if I do care, I’ll do whatever I need to do to get that something done, completed or across the line to perfection.

I’m also looking forward to coaching and mentoring my colleague Paul Rumsey in his new role as Managing Director as I move to the role of CEO. I realise I am not the right person operationally for the next phase of company growth. Paul, however, is.

I can’t think of anything duller then going to a spa. I have tried golf and soon gave up on it as it drove me madmainly beause I was no good at it.

If you are interested in finding out more about the MDHUB, please visit Emailwww.mdhub.co.ukMDHUBDirectors: Fiona Shafer: fiona@mdhub.co.uk or Phil Green: phil.green@mdhub.co.uk

Management & Construction Services Ltd has been serving Surrey’s construction needs for 40 years. Platinum caught up with Managing Director, Paul Hodges, to learn more about the company

The majority of our work is from repeat customers and government frame works, all of whom recognise that we are a trustworthy company and are a safe pair of hands. We are therefore regarded as their preferred construction partner.

There are many facets to my role but my primary objective as Managing Director is to support my fellow directors strategically, and to ensure that we achieve our mission and objectives to delighting customers.

I have a heavy focus on our pre-con struction activities where I help customers unlock their construction projects, and assist our estimating and pre-construction team to submit compliant and accurate bids.

❛❛ We are acutely aware that we in the construction industry must adapt and improve our business to suit clients’ requirements ❜❜

We deliver projects in various environ ments including offices, light industrial, homes, schools, ecclesiastical, blue light and civic buildings. However, an increasing number of clients are using our extensive education experience to their benefit.

Can you tell me about Management & Construction Services Ltd (MCS)?

Inside Management &Construction Services

The company was formed in 1982 by the founding directors, and as the names implies, the focus is on the professional management of the construction service with a high level of attention not just on the quality of build, but the service to deliver it. We operate across the public and private sectors completing projects ranging in value from £500k to £10m.

What is your role within the company?

MCS has been a massive part of my life for the last 35 years and it’s very much part of me. My role as Managing Director is not just working ‘on’ the company, it is working ‘in’ the company, which I love.

In addition, we have a special works department working with key clients, delivering smaller value projects from £100k to £500k.

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45www.platinummediagroup.co.uk

3 GREENER PLANET Creating a better planet for future generations by putting the climate, biodiversity and resources crises at the heart of the way we do business.

1EXCELLENT BUILDINGS Delivering buildings which are resilient to the impacts of climate change, conserve natural resources, use responsibly sourced low-carbon resources, minimise carbon emissions and the cost of ownership.

But to expand on that a little more and give you a theoretical outline process, you could either initially speak to an architect about your project directly, or speak to a design & build contractor, like MCS. We would meet with you to define your actual requirements, usage and develop an appropriate brief. We would also, at this stage, look at the site location and obtain planning advice on suitability/ consent etc.

The job is as much about building positive long-term working relationships with clients, as it is delivering fine quality Inbuildings.addition, providing an excellent working culture and environment for our staff to work in and thrive, while at the same time build a long term profitable sustainable future for the business is very rewarding. As a business, we have traded through three recessions, one credit crunch and now a pandemic which I think shows real strength and resilience of the company and the outstanding level of support and confidence our bankers, NatWest, has in our business.

We would then, together with you, appoint the most appropriate architects and designers to complete the design and agree with you the various ‘sign off’ stages to ensure the design meets your exact requirements. Once the design is finalised and planning consent achieved we would complete your build to the agreed programme, budget and sustainability targets. We would then provide our thorough client demonstration and handover process, and provide post-completion support for the live building. We want to ensure you are completely satisfied and check the building is operating as planned.

MCS actively engages with the Supply Chain Sustainability School to guide us to achieving our CSR and environmental targets. We also actively encourage our supply chain to engage with the school too, so to collectively improve best Thepractice.need to slow climate change is critical to us all and it would be a serious and painful mistake if we failed to address tomorrow’s problem today.

What does the future hold for Management & Construction Services Ltd? As the company celebrates its 40th anniversary, the ethos of the company, which I described earlier, remains the same since establishment.

Knowing we are consistently delivering completed projects to our clients’ satisfaction; being able to drive past a completed project with pride and say, ‘we built that!’

During the pre-construction and construction process we would provide continual cost advice, so there are no surprises.

What has changed over those last 40 years is our effort to continuously improve all elements of our company including technology, processes, tools, products, services and so on.

We are acutely aware that we in the construction industry must adapt and improve our business to suit clients’ requirements. For example, in the last five years, a stronger focus for our clients has been to design their building with good environmental credentials and ensuring that their building was delivered sustainably. Here’s to the next 40 years! www.mcs-construction.co.uk

If we, at Platinum Media Group Towers, needed a new office built, how would we go about it?

BUSINESS

As a constructor, we understand that we play a pivotal role in delivering positive benefits in the communities in which we work and live, ranging from employment, education and training, to community investment; we therefore create bespoke CSR Plans for each project we undertake. Our approach is structured around three themes:

What is the most rewarding part of your role?

Just call me, I would love to help you.

We share Surrey County Council’s endeavours to deliver the highest levels of ethical and sustainable operations. Like them, we are committed to achieving Net Zero emissions by 2030.

How are you contributing to Surrey County Councils target of NetZero?

2 BUILDING LIVES Supporting the people and busi nesses in our communities to thrive with a focus on helping young people to access good careers.

SHOW ORGANISER SHOW PARTNER Find out more at www.worthingandadurchamber.co.uk#betterbiz2022 Design:&Branding yoohoocreative.com ENTRYFREE Worthing Leisure Centre Thurs 22nd Sept • 10amAreaNetwork4pmMeet buyersthePowerBreakfastHour supportbusinessFree – – – – – – – – – – – – – – –InspiringKeynoteSpeakersBuildyourConnectionsSpeed 100+Networkingexhibitor stands Explore local opportunities ORGANISER SHOW PARTNER out more at www.worthingandadurchamber.co.uk#betterbiz2022 Design:&Branding yoohoocreative.com ENTRYFREE Worthing Leisure Centre Thurs 22nd Sept • 10amAreaNetwork4pmMeet buyerstheHour supportbusinessFree – – – – – – – – – – – – – – –InspiringKeynoteSpeakersBuildyourConnectionsSpeed 100+Networkingexhibitor stands Explore local opportunities PLATINUM MEDIA GROUP MEDIA PARTNER

Here’s what you can look forward to on the day: BE REPRESENTED With over 100 exhibi tors and 500 attendees, this is your opportunity to be visible at the biggest annual showcase of brilliant local busi nesses. There will be a huge selection of small, medium and large companies, from a wide range of industries. Take this amazing chance to represent yourself and your business, and grow your connections across the local business community!

BE INFORMED A great occasion to discover more about what’s on your doorstep, find out about hundreds of local businesses, and open up even more opportunities to shop local. Plus, your chance to meet the buyers from larger local companies, and Adur & Worthing Councils.

Bigger Better Stronger Together

BE PROMOTED Boost your profile and get to know your local business commu nity. Don’t miss our speed-networking session in the middle of the day. Join hundreds of like-minded local business owners at this year’s Worthing and Adur Better Business Show to meet, talk, laugh and prosper! We still have a few stands available to exhibit at the show, click here to find out more. event-4875540thingandadurchamber.co.uk/ 2022 –www.sampharoah.com

BE DEVELOPED Don’t miss the incred ible and inspirational keynote speakers. BE CONNECTED Get a head-start on the day by joining exhibitors and other attendees to meet, network and mingle over a pre-show breakfast.

BOOKINGS NOW OPEN FOR WORTHING AND ADUR’S BIGGEST BUSINESS SHOW WHEN: Thursday, September 22nd

THE BETTER BUSINESS SHOW IS BACK!

47www.platinummediagroup.co.uk EVENT

4pm WHERE: Worthing Leisure Centre, Shaftesbury Avenue, Goring-by-Sea, Worthing BN12 4ET FREE TO ATTEND! Photo credit:

BE SUPPORTED There are plenty of opportunities to access free business support from business experts in various fields and industries. Plus, why not take advantage of our new networking area whilst having some great conversations.

10am

For Andbusiness...foryou Call us on 0800 84 94 101 Offices across Sussex www.mayowynnebaxter.co.uk

SUCCESSION TRANSITIONINGANDTO THE NEXT GENERATION

Family businesses make up approximately 85% of private sector businesses. They have unique advantages including family members sharing a similar vision, values and commitment to drive business However,performance.theycanalso be inward looking and resistant to change, lacking that outside perspective that can spark new and innovative ways of improving Belowprocesses.Idiscuss three key challenges facing family businesses and how to overcome them.

There has been a lot of discussion around work-life balance in the last couple of years but this can be even more challenging to achieve when your personal and business life are so

While succession can be an uncomfortable conversation, in my experience it’s better to tackle it well before any change is to be implemented so that everyone knows where they stand. An unbiased advisor can also offer objective advice and work alongside all the differing personalities in the family with no agendas of their own.

Three challenges facing family businesses weaknesses it can also create friction and insecurities around succession.

As your business grows and scales, you need to prioritise key skills over family ties. This can be tackled in a couple of ways. Either by investing in family members to expand their skillset or by recruited external talent into key roles. Both approaches have their advantages and drawbacks but I generally advise businesses to implement a combination of both.

SCALING YOUR BUSINESS

The longer term solution of upskilling family members should be a big part of the business’s talent strategy and generally this will also feed into the conversation of succession. At pivotal moments, building up your management team by recruiting outside support that is already up to speed, and that offers a fresh perspective, can be crucial to the success of the business, and expand your thinking in ways you may not have expected.

By Daniel HainesManagingMorgan,Partner,WattsEsher

FINANCE

While the handover between the fi rst and second generation may be a smooth process, this can become more challenging when you hit the ‘third generation problem’. The initial founding family members built the business from the ground up, with the second generation seeing this labour of love. They form an understanding of the business at a young age and are fully imbedded when the time comes to take over. By the third generation, the family has expanded, with cousins across various households who have all had differing levels of involvement in the business and offer different skillsets and Thiscompetencies.canbeablessing and a curse, while all these variations can help to build a complete team that complements each other’s strengths and

49www.platinummediagroup.co.uk

If you feel like there is no separation between work and family, it’s likely that you’ll burn out. You need to allow yourself a respite so that when you are working you are able to give your all.

The same goes for your relationships within your family, if they become too work-centric, resentments will grow.

Whenentwined.working with family, it can feel unnecessary to set clear boundaries but, if anything, I think it is more important than a traditional workplace. Whether your ‘rules’ are not talking business at the dinner table or implementing set working hours, having a clear distinction will benefi t the business in the long-run.

If you need support with your family business, get in touch. www.hwca.com/accountants-esher T: 020 8549 5137 E: esher@hwca.com

BLURRED LINES BETWEEN BUSINESS AND FAMILY

PROUDLY SUPPORTED BY ofBusinesspersontheYear

This Award aims to recognise a business that has demonstrated outstanding achievements in all aspects of their organisation. The business will illustrate strong growth, innovation and leadership as well as a clear vision. Open to all businesses with a turnover under £500,000. This award recognises a business which, through outstanding vision and leadership, has achieved signiﬁcant and sustained growth. Entries are open to proﬁtable businesses that can demonstrate an increase in employed staff over a two year period. The Judges will want to know how this was achieved, how it is being managed and the strategy which you will use to sustain your success.

SURREYBUSINESSAWARDS ofCompanytheYear Most BusinessSustainable Chamber Member of the Year

Recognising an individual who stands out from the crowd, has an entrepreneurial spirit, demonstrates outstanding achievement and inspires others around them.

Small Business of the Year

GrowthBusinessAward HeroCommunityAward ServicesProfessionalAward

Recognises an individual or business whose contribution to society makes a substantial difference to the lives of others. This Award aims to recognise excellence in regulated sector management under-pinned by a strong ﬁnancial performance and adherence to a professional code of conduct. This category covers a wide range of professional services including legal, ﬁnancial, recruitment and consultancies.

The winner of this award will be selected from the ﬁnalists in all the other categories. This Award will be chosen by the sponsor and recognises a business they feel stands out as an inspiration to other businesses. This award recognises a business that has taken its environmental, social and ﬁnancial performance to new heights in an effort to achieve a sustainable future. This long-standing award is for the businesses that are scaling up commitments and actions across all areas of corporate sustainability to advance the green economy. This award recognises a Surrey Chamber of Commerce member who has been actively engaged with the local business community. The business should demonstrate a dedicated commitment to their team and delivering outstanding service and a strong plan for sustainable performance.

This Award is open to any business based in, or conducting the majority of its overseas business from, an operational base in Surrey. The company should demonstrate healthy import/ export activity and good trading relationship with any country outside of the UK.

Recognising a business with entrepreneurial aptitude, vision, ambition, drive and commercial acumen to build a successful enterprise from start-up. The business must have started to trade no earlier than March 2019 and no later than October 2021. This Award aims to recognise a business that has made significant strides in their field, be it developing a new product or by introducing a new process or system to an existing business.

SUBMIT UP TO THREE 2022 LIVE

Recognising a business that has created a healthy and supportive work environment with a genuine commitment to the wellbeing of its employees.

Recognising the achievements of a young professional aged between 16-30 who has achieved a level of business success that defies their age. Their story will demonstrate tenacity, determination and will be known by peers/mentors as ‘one to watch’. The individual must be aged 30 or under before April 2022.

CATEGORIES ONLINE WWW.PLATINUMMEDIAGROUP.CO.UK

Best ServiceCustomer Start-up of the Year Business Innovation of the Year Young Professional of the Year

ENTRIES AWARDS CEREMONY NOVEMBER 3RD

GUILDFORD DEADLINE EXTENDED SEPTEMBER 9TH 2022

This Award aims to recognise a business that exceeds customer expectations in all areas of the business by providing the very highest level of customer service.

VIEW

BusinessInternationalofthe Year Large Business of the Year Medium Business of the Year ofEmployertheYear

❛❛The session on brand storytelling was very impactful, and we’ve made a whole host of changes inspired by that ❜❜ Joel Fielder, founder, Switchplane Ltd

ATTRACTING AND RETAINING TALENT Nearly every business leader we spoke to pointed out that ambitious busi nesses in East Sussex are held back by the struggle to recruit and retain the talent they need. Today’s workforce is more discerning than ever before about their choice of career path, and organi sations simply cannot thrive without having a plan in place to become an ‘employer of choice’. Recruiting tactics are becoming increasingly sophisticated in this envi ronment, and successful businesses will learn to treat their recruitment strategy with the same care and atten tion that they put into marketing messages. Your brand identity and company narrative are no longer written with just the customer in mind – they are equally important tools for attracting potential employees who share your vision and values.

52 www.platinummediagroup.co.uk TALENT,INNOVATION

The Bamboo Club is funded by the Business East Sussex Pivot Programme, and is open to founders and directors of high-growth busi nesses in East Sussex. Facilitated by Sussex Innovation’s expert consultancy team, these sessions have been specif ically designed with the needs of the region’s most ambitious and fast est-growing businesses in mind. The content is informed by the common strategies, operational and cultural challenges that come with building a larger team. Over the past few months we’ve been speaking to every participant about why they joined the programme, and the most critical challenges they’re facing in 2022. There are several common themes that are clearly occupying the thoughts of founders and business owners right now.

CULTURE AND facingTacklingRESILIENCEthebiggestchallengesSussexSMEs

After a year of developing and running peer-to-peer networks for regional business leaders, Sussex Innovation is searching for the last few companies to join the final cohort of our successful Bamboo Club programme. By Nigel Lambe.

INNOVATION

Does your business have at least five employees and an annual turnover of at least £200,000? This is your last call to join the Bamboo Club for a fully-funded support programme of masterclasses, one-on-one coaching and action learning with a motivated peer group.

Business resilience has been a core theme of the Bamboo Club since its inception – the club is named for bamboo’s flexibility and ability to continue growing in the face of extreme conditions. The peer-to-peer sessions act as a forum for business leaders to discuss the questions to which there are no simple answers. By bringing a range of perspectives and experiences together, you’ll hear examples of what has worked for others, hold each other accountable, and have a trusted group of equals who’ll be direct and up-front with their advice.

The widespread adoption of remote and hybrid work models brought on by the pandemic has only cemented the need for clear direction and shared goals across companies. We now have the power to make many parts of the business more efficient through auto mation and mechanisation, and it’s important that we use this opportunity to focus teams on the most rewarding elements of work – those that still demand a human touch.

Visit www.sussexinnovation.co.uk/training-programmes/ programmes-bamboo-club/ to find out more and register your business.

The Bamboo Club is part of the Business East Sussex Pivot Programme, managed by the Business East Sussex Growth Hub on behalf of East Sussex County Council and the South East Local Enterprise Partnership.

There was also recognition that, in order to retain talent, businesses must back up their recruitment strategies with a positive workplace culture informed by strong leadership. As well as benefitting employee wellbeing, prioritising culture is also proven to increase productivity.

Recent years have dealt small busi nesses a series of social and economic shocks, including the disruptions of Brexit, the pandemic and war in Europe, and the pressing need to transition towards Net Zero. Our cohort of business owners were understandably concerned about supply chain stability, rising prices and incoming regulation, and how these changes may impact their business. They are looking for methods and tools to help increase their resilience and plan for sustainable growth in the face of these changes.

❛❛ The Bamboo Club gave me the confidence to restructure my business and build to meet the ever-changing world we are in at the moment. The result is that I’m fully booked and growing again… it will ultimately ensure I am better equipped to steer the business into the next 10 years ❜❜ Michael McCarthy, founder, Safer Health and Safety ❛❛ The programme has made me consider my leadership style, the culture I want to be part of, and the importance of staff development, team building and management strategies. I feel like I have more of the tools and knowledge to do this now… we instigated a team day and restructured staff roles and responsibilities in a better way, that I hope will sustain the business for growth ❜❜ Laura founder,Queening,AuraQue Ltd

LEADERSHIP AND WORKPLACE CULTURE

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RESILIENCE IN THE FACE OF CHANGE

This webinar will update you on the recent and forthcoming financial, tax, and restructuring changes and how they impact your business. Our experts will advise you on how to plan now, prepare for tomorrow and make the most of opportunities available. Who is this webinar for? Chief Financial Officers, Finance Directors and owners of UK businesses keen to keep up to date with financial reporting, governance and tax changes on the horizon. Finance focus webinar: Book your place! For more than accountancy, business and financial advice. Call: +44 (0)330 124 1399 Email: enquiries@krestonreeves.com Visit: www.krestonreeves.com Date and time: Tuesday 5 July 2022 | 9am - 11am To book your place, contact Elise Mason: T: + 44 (0)330 124 1399 E: W:events@krestonreeves.comwww.krestonreeves.com/events

WHAT IS DESK RESEARCH?

WHAT’S SO IMPORTANT ABOUT DATA?

55www.platinummediagroup.co.uk

At the BIPC, we tend to start with COBRA, an easy-to-use encyclopaedia of information for starting, running and managing a small business. It includes over 4,000 factsheets, local area profi les and business profi les to help you get off the ground.

It doesn’t matter if you’re at the idea stage or if your business is more established, desk research can help your business growth and developGettingment. stuck into the analytics and research might not be everyone’s cup of tea, but at the Business & IP Centre (BIPC) Sussex, we get a little excited about helping customers fi nd their perfect stat, report or consumer analysis nugget.

It’s important to know that you don’t have to begin with a blank sheet of paper. Desk research is all about using other people’s findings and analysis to get to your answers quickly. You might want to know if your idea for vegan dog treats has – er – legs. Before you go out and ask your prospects what they think, it would pay to know how the global market on dog food is doing, the forecasts for dog food purchase over the next few years, and who the key players are in the market.

In summary, considering desk research may not sound too glamorous, but we at BIPC Sussex fi rmly believe that doing a little tabletop strategy can give your business the edge and we are here to help.

BUSINESS

Beyond COBRA we have industry and market databases that give you the inside track on your industry not just in the UK, but internationally too.

With our free business databases, a little training, and us to call on when things get tricky, desk research at BIPC can become (dare we say it) a little bit enjoyable. All you need to access the databases is a library card.

Having a data-led approach starts to look really appealing when it comes to investors, finance and funding. Allowing you to pitch with accurate information gives you, and your investors, confidence. By using the BIPC Sussex’s nine business databases, you get all of this without having to pay a penny.

WHERE TO BEGIN?

Arguably one of our most searchworthy databases is GRANTfinder, which can help you put your plans into action by giving you information on various financial support options.

How could my business beneﬁt from desk research?

Find out more www.brighton-hove.gov.uk/bipcat or email bipc@brighton-hove.gov.uk

These are Mintel, IBIS World, Statista and WhenEMIS.itcomes to getting to grips with suppliers, partners, investors, clients and competitors, our company databases – FAME, Kompas Easy Business and Local Data Online, are a great source of information, contacts and statistics.

Using reliable data to make key business decisions; BIPC can help

Desk research allows you to gather this information from a range of reports, databases and statistical tools. It’s a strategic advantage putting you ahead of your nearest competitor, before you’ve even got out of your seat.

56 www.platinummediagroup.co.uk BUSINESS

Kate and Supa said, “It shows these organisations do care about their employees and recognise the impact rest can have on reducing incidents, while improving performance and well being. We all know sleep is good for us but it is also the first thing to go when we are stressed, overworked and busy.”

They felt that there was an untapped opportunity in rest while the rest of the world fights for your every waking moment. Fatigue is costing the UK economy billions due to incidents and illnesses and there is an urgency to understand the impact of rest on

Rest Space came about when co-founders Supa and Kate were both working long hours and taking naps during their lunch breaks to boost their productivity. When sharing this with their colleagues, they were surprised to find others were napping too, with the most popular nap spot being the toilets. As highlighted in mainstream news, rest is the only basic need we cannot get on-demand, and 49% of millennials want to nap during their office day. 80% of millennials admit to napping at work. Supa and Kate found rest during the working day is a powerful and neces sary tool to improve performance, mental health and physical health.

Both founders wanted to give a big thanks to the NatWest Accelerator for helping them through mentorship, support and access to the community of entrepreneurs. “It was invaluable connecting and learning from other businesses.” They would like to focus on the benefits of rest for businesses. In addition to selling Rest Spaces, they are educating employees on how rest is fundamental to performance and wellbeing.

They got amazing reviews from their first Rest Space they hosted in a co-working office. One review was from a mother-to-be who said that having access to the Rest Space meant she didn’t have to choose between the health of her baby and her career, espe cially after she’d been trying for seven Metroline,years.

a TfL bus provider, has Rest Spaces at two of its bus depots for bus drivers and staff to use, and will soon be delivering more Rest Spaces to NHS hospitals. Loughborough University is To get in touch, go www.restspaceldn.comto analysing the impact of the Rest Spaces to see the impact not only improving health and safety but also the drivers’ “Wewellbeing.recognise drivers can be suscep tible to fatigue due to various lifestyle factors, which is why proactively helping our drivers tackle the issue is a priority for us. We continue to look at new safety initiatives with the objective of achieving Vision Zero,” said Sinead Maguire, Head of Transport Safety at Metroline.

CASE RESTSTUDYSPACE employees’ health and wellbeing. Rest Space was born to help us be our best at work, by providing a practical solu tion to improve burnout, stress and diversity at work; all of which currently pose huge challenges for employers.

BUSINESS We Are Hurst Sixth Form Open Morning - Saturday 8 October A truly co-educational Sixth Form providing an excellent all-round education on our 140-acre campus within the West Sussex countryside. Our students gained 96.2% A* B grades at A-level in 2021. Flexi and weekly boarding are available and we offer extensive bus routes across Sussex, Surrey and Kent. hppc.co.uk | @Hurst_College | @HurstCollege | @Hurst_College

Brighton Gatwick Guildford Horsham London dmhstallard.com For business We make it our business to know your business, working with you to add value and to deliver tailored legal services with energy and creativity whether you’re an established market leader or an ambitious start-up. For you Your family’s security and wellbeing are your priority. And we have the legal skills and knowledge to support your plans and the challenges life brings. Outstanding legal advice for individuals, families and businesses. Our success depends on understanding your needs Please call or email to discuss how we can help you: 03333 enquiries@dmhstallard.com231580 Our focus is you

59www.platinummediagroup.co.uk CONTROL

In pest control, there is still the one brand that effectively is the ‘Hoover’ of the industry. As far back as 1985, Lenny Henry was on stage at Wembley in Live Aid, introducing UB40 to sing ‘There’s A Rat In My Kitchen’…and to an audience of one billion viewers said, ‘I’d call in AtRentokil!’Cleankill, we have had to get out and communicate to our marketplace that there are alternatives; especially alternatives who are far more highly accredited, who will be far more economic and whose staff stay with them.

Paul Bates, Managing Director Cleankill Pest Control

Cleankill is a supplier of public health pest and bird control services to commerce, industry, restaurants hotels, schools, colleges, universities and hotels – in fact any building where people live or Pestwork.control is mostly about prevention, and every office block and every restaurant in every city will have some form of pest control. If you go to the United States, people will go and eat in a restaurant, and if they see a pest control van outside as they know that the restaurant is taking care and attention to keep free of pests. However, in the UK the pest control industry has a different image and people tend to think that a pest controller outside a restaurant is not a good sign. This is because we have not communicated the message that pest control should be about prevention rather than Incure.my experience, around 80% of problems in the workplace are communication related. Workplace communication is important to companies because it allows them to be productive and profitable. Employees will experience an increase in morale, productivity and commitment if they are able to communicate both up and down the organisational chain.

PEST

For a free pest control survey, email info@cleankill.co.uk, or call 0800 056 5477.

Cleankill is the only pest control company in England to have achieved the Investor in People Gold accreditation. We are main contractors for two prestigious, international property firms, and we are the ‘go to’ company when pest problems are in the news for BBC Radio Surrey and Sussex; broadcasters who trust us to give factual information and advice.

Salespeople must communicate their services and products to their clients; managers must communicate the ideas of their bosses to their staff; bosses must communicate their ideas to their manager. Even when you first start work, possibly at the very bottom of the pile, if an idea or instruction is not communicated properly, the interpretation of that idea could end up very differently from the original idea. The finished object will have gone through so many changes, it GROW is nothing like the originator’s initial intention if communication is poor.

COMMUNICATE TO

Because of our treatment of staff, who all get private healthcare for themselves and all dependants, who get all of their pension contribution paid by us as well as many other benefits and who all get continual professional development, we have many small companies now offering themselves to us when the current owners decide to retire. All of this is as a result of effective communication which has taken us from zero turnover to, I hope, in excess of £4million by the end of this financial year.

Simply lazing on the beach not quite cutting it anymore? Upskill breaks, hobby holidays, call it what you will, more and more people are looking for that something extra - and we have found some fantastic options out there.

By Tess de Klerk

Letaka Safaris currently offers two separate itineraries, perfect for those who want to safari with like-minded travellers. Tailor-made and private safaris are also possible.

BREAKYOURELEVATETRAVEL

INPHOTOGRAPHYWILDLIFEAFRICA

SAFARI IN SOUTHERN AFRICA… With an intoxicating mix of wildlife, vibrant colours, beautiful scenery, and extraordinary light, the photographic opportunities in Africa are endless.

From £4,090 pp www.letakasafaris.com/find-a-safari

60 www.platinummediagroup.co.uk

Letaka Safaris runs specialist photography trips where a professional photographer accompanies guests to advise and assist budding amateur and experienced photographers alike. Full immersion in the beautiful Botswana bushveld is guaranteed, with accommodation in safari-style tents.

LEARN TO SOAR PARAGLIDING IN SPAIN…

Photography is central to the Great Plains Conservation experience inspired by world-renowned wildlife filmmakers and photographers, Dereck and Beverly Joubert. Photographic hides are in place at a range of their camps to guarantee extraordinary close-up shots of wildlife, while the animals themselves are unaware of human presence. Options range from a camouflaged boat anchored mid-river to treetop platforms, all hidden from sight. Tents are equipped with professional Canon camera sets at selected camps, with photography tuition available on request. From £870 safari/photographic-safarihttps://greatplainsconservation.com/pps

TRAVEL

❛❛ Feel as free as we earth-bound beings can be by learning to glide on the currents, free-flying with only the swoosh of the winds for company ❜❜

... AND ACROSS THE GREAT PLAINS

Who amongst us hasn’t stared up in the sky, envying the freedom of the soaring birds above? Feel as free as we earth-bound beings can be by learning to glide on the currents, free-flying with only the swoosh of the winds for Letcompany.theenthusiastic and highly experienced team at Fly Spain show you how with their six-day Beginners Elementary paragliding course in Algodonales, in the province of Cadiz, Spain. All equipment and tuition are included, as well as accommodation in a picturesque townhouse with a pool. Fly Spain is a BHPA school, meaning that you can go on to train for your UK gliding qualifications. From £1,200 pw www.flyspain.co.uk/paragliding-courses/ paraglider-training-for-beginners

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… AND IN FRANCE

The southern French Alps is a world famous paragliding destination thanks to its reliable thermals and good weather. Undiscovered Mountains are experts in the area and offer a six-day Learn to Fly course in the ski resort of Orcières. Accommodation is available at several quaint hotels and chalets, and there is plenty of mountain activities for those in your party who might not feel as enthused about running off the mountain’s edge. From £930 pw https://undiscoveredmountains.com/ learn-paragliding-holiday-french-alps

62 www.platinummediagroup.co.uk TRAVEL

❜❜ FEED ARTISTTHEIN YOU

POTTERY IN HAMPSHIRE

From £260 pp https://angelsfarm.co.uk

PAINTING ON THE ISLES OF SCILLY

Potter Jo Osman hosts two and three-day residential pottery stays at the lovely Angels Farm Pottery B&B, a 10-minute walk away from open Hampshire forest. Choose the Slowdown weekend if you’re a complete novice, or Fledgling Potter, if you already know a thing or two about throwing pots. Accommodation is in the pretty farmhouse or glamping tents, and courses include vegetarian lunches expertly prepared using home-grown vegetables and seasonal produce. Courses fill up quickly so plan ahead!

From £1585 pp www.newlynartschool.co.uk/courses/tresco-painting-holiday the Slowdown weekend you’re a complete novice, or Fledgling Potter, if you already know a thing or two about throwing pots

❛❛ Choose

The Newlyn School of Art offers an impressive range of indoor and outdoor art courses which includes painting holidays on Tresco Island. These are hosted by artists who know the islands intimately and have exhibited their work there many times. The painting holidays are run over four days and include, four days of painting tuition, five nights’ dinner, bed and breakfast at a traditional seaside inn, plus unlimited access to the Flying Boat Spa and famous Abbey Gardens. Painting materials are also included.

❛❛ ‘The holiday you can take home with you’ has been running since 1979 and has an enviable reputation ❜❜ A MIXED A BAG

AND

The Crush Course, held over a weekend at the Dartington Trust near the Dart River in south Devon, teaches the art of winemaking. Guests participate in the entire process, visiting a vineyard and touring the winery, crushing grapes, sampling different varieties, and leaving with their own homemade bottle of sparkling vino. From £325 pp www.dartington.org/ event/the-crush-course

AN ALL-ROUNDER IN GREECE

WINEMAKING IN DEVON

63www.platinummediagroup.co.uk TRAVEL

Want to do something but not quite sure what? Then head for Skyros. They offer weekly getaways with jam-packed activities ranging from water sports to creative writing to comedy workshops and so much in between. There are, on average, eight different activities each day and you get to choose which you feel like attending on the day. The location is stunning, either Atista Bay on the pine-forested Aegean coast or the picturesque little village of Skyros. ‘The holiday you can take home with you’ has been running since 1979 and has an enviable reputation. From £795 outdoor-adventure-holidayswww.skyros.com/courses/pw

www.platinummediagroup.co.uk64 MOTORING

The Huracan is a great car and has been around for a while, so why not produce a fire-breathing road-going version of the GT3 racer? Why not indeed?

The STO’s huge rear wing can be manu ally adjusted between low downforce (324kg at 174mph), mid (363kg) and high (420kg). The cofango – complete with louvres to exit hot air from the wheel wells and bonnet vents to extract hot air from the radiators – is also a powerful tool in the aero set-up, and the shark fin on the rear deck is said to improve yaw stability. Overall aero effi ciency is improved by 37%, with downforce up 53%.

The STO stands for Super Trofeo Omolgato which translates to ‘l am going to kill you if you don’t pay atten tion.’ Even if that were true, it’s not joking as at speed, it demands your attention at all times which l adore, as it is a totally involved fully alive drive.

Being a great fan of the Huracan EVO AWD, l reviewed the rear-wheel drive version last year, and my life flashed before me more than once. In the rain, it takes every ounce of concentration not to spin with a naturally aspirated 5.2-litre V10 in the back driving only the rear wheels in a car that weighs about the same as a packet of crisps. This is not for the faint-hearted. So when Lamborghini called to ask if l would like the ‘fast’ version, l swallowed and said yes immediately. Then swallowed Itagain.arrived in lime green with graphics galore, a huge red-tipped rear wing, a full roll cage and stripped to the bare minimum. Door handles, carpets, grab rails - all gone in an effort to save weight. With weight being the enemy of perfor mance, every ounce has been edited out including thinner glass, extensive use of carbon fibre and magnesium LAMBORGHINI HURACAN DEATH OR GLORY

By Maarten Hoffmann wheels, resulting in a dry weight of 1,339kg. They even removed the bonnet opening mechanism as it weighed 2kg and replaced it with a small plastic key which has to be manually inserted to open the boot and the one-piece bonnet. Once you have removed the weight, you need to add weight in the form of aerodynamics.

The STO is not all about brute power due to its race heritage, it’s far more about balance, agility and consistent lap times. That almost makes me laugh as with a heavy right foot, this is a brutally fast hardcore race car. Does it take on the Ferrari 458 Speciale? Oh yes - and then some.

TOP: ECONOMY:193mph13.9mpg combined PRICE: £216,667 AS TESTED: £290,367

❛❛ So when Lamborghini called to ask if l would like the ‘fast’ version, l swallowed and of course, said yes immediately. Then swallowed again ❜❜ The superb engine delivered 631bhp taking it to 60 mph in three seconds, and delivers you to 193mph shortly after that. The steering wheel carries settings that take it from STO for road driving, Trofeo for track and Pioggia for Therain. engine and 7-speed DCT box are mind-boggling superb and the linear throttle provides almost mystical accuracy. The carbon ceramic brakes from Brembo, wrapped in grippy Bridgestone Potenza rubber are aston ishing and a real danger to the cars behind as no one quite expects you to stop in the distance these tyres are capable of. And the engine note –well, what can l say? ‘Sublime’ is the best word l can conjure up. There was some criticism of the old Huracan regarding understeer but any notion of that in the STO has been totally eradicated. The STO simply does what it’s told, when it is told and is one of the most involved drivers cars l have ever driven - and l have driven them all!

MODEL TESTED: Huracan STO ENGINE: 5.2-litre, V10 POWER: 631 bhp SPEED: 0-62 - 3 secs

My better half insisted that there was room for her handbag on the floor between her legs and looked quite smug about it – until l hit the first highspeed corner. l now know exactly what women keep in their handbags as the contents, much like the lack of gravity in space, were sent flying around the cockpit. I was hit with a lipstick, her coin-filled purse and a tampon whilst trying to hold the corner at 140mph. Not a problem Sir Lewis Hamilton has to endure l am sure! For the sheer delight of driving, this is a joy-filled and hilarious and but it’s not driving - it’s theatre. It might seem a tad pricey at £260,000, but with the McLaren 756LT at £280,000 and the Mercedes AMG Black at £335,000, it could be seen as a bit of a bargain. Worth every penny and get it while you can as with the eco brigade taking over, l fear we might not see the likes of it again.

STO

65www.platinummediagroup.co.uk MOTORING

TECH STUFF

Inside, you have race-inspired buckets seats, a huge suede covered dash and room for a pack of mints. There is space for nothing but two bums and the keys so if you have luggage, send it ahead.

THE ALL-NEW Subscribe NOW at info@platinummediagroup.co.uk WE LAUNCHED DYNAMIC –THE BUSINESS MAGAZINE FOR WOMEN, THREE YEARS AGO AND HAVE BEEN ASTOUNDED BY ITS SUCCESS Therefore, this issue of Dynamic is the last one in this format, and a new version is coming. No longer bi-monthly, the all-new Dynamic Magazine will become monthly as why should you have to wait? In November, you will see the all-new Dynamic. New writers, new stories, new sections, new design and a new Editor – we are very excited THE BUSINESS MAGAZINE FOR WOMEN MAY | JUNE 2021 UNCONSCIOUSBIASINAWORLDDESIGNEDBYMENLOVE HOW TO FALL BACK IN LOVE WITHBUSINESSYOUR WORLDATTEMPTRECORD SACHA DENCH SISTERS ARE DOIN’ IT THEMSELVESFOR MOTORING JAGUAR I-PACETHEBUSINESS MAGAZINE FOR WOMEN LIZ TRUSS BIDDING FOR THE TOP JOB Jan Feb 2022 #14 NATWEST The future of work HEALTH The ResponseFreeze MOTORING VW ID.4 MAGAZINE THE BUSINESS MAGAZINE FOR WOMEN September October 2022 #18WOMEN IN LEADERSHIPThe stats Smart retirement planning The truth depressionabout BANNEDWHATSNUBBEDANDWOMENCOULDN’TDODYNAMICMOTORING SEAT InspirationalTarracowomenThespringboardtosustainability If you would like to receive a free copy of Dynamic, simply pop your email address to info@platinummediagroup.co.uk and the magazine will drop into your inbox each month. Or for £25 per year, let us have your physical address and you can have the printed copy mailed to you

THE BUSINESS MAGAZINE FOR WOMEN September | October 2022 #18 WOMEN IN LEADERSHIP The stats Smart retirement planning The truth depressionabout BANNEDSNUBBEDANDWHATWOMENCOULDN’TDODYNAMICMOTORING SEAT InspirationalTarracowomenThespringboardtosustainability

3 4 MEET THE COMMITTEESTEERING 5 WELCOME 6 UPFRONT All the latest bulletins from the world of business 8 Kreston Reeves Alison Jones discusses the longterm hidden costs of recruitment and retention 10 BIG WomenSTORY–banned and snubbed A snapshot of women in history being treated as lower-grade citizens from exclusion in pubs, to be written out of history altogether 16 Wellesley Samantha Kaye from Wellesley talks about the well-being beneﬁ ts of smart retirement planning 18 Inspirational women Dynamic focuses on two women who have made it to the top of their professional ladders - providing an inspiration to other women 20 NatWest The latest Sustainable Business Tracker from NatWest points to the increasing number of ﬁrms now taking sustainability more seriously 8 22 Mental health / depression Doctors and scientists are coming to terms with the realisation of the causes of depression - altering many decades of prior medical thinking 24 Women in leadership According to the HamptonAlexander Review, there is a concerning lack of females in business leadership roles. Dynamic crunches the numbers 26 SEATMOTORINGTarraco Dynamic Motoring Editor Fiona Shafer had high hopes for the SEAT Tarraco, even before she drove it. Did the car live up to those high hopes? 24 10 BIG STORY BANNED SNUBBED& contents 26 MOTORING DYNAMIC

4 EMMA LANE Head of ManagementClient Allica Bank PAM ManagingLOCHDirector Loch Associates ABIGAIL OWEN SeniorCounselCorporate DMH Stallard FIONA ManagingSHAFERDirector MD HUB ALISON ADDY Head of EngagementExternal Gatwick Airport LOUISECEOPUNTER Surrey Chambers of Commerce ManagingREID-ROBERTSMAXINEDirector Quantuma ZOEPartnerRUDLING RSM JULIEChairKAPSALIS Coast to Capital LEP FAYE LONG Regional Director NatWest Group ROSEMARY FRENCH OBE Non-Executive Director GatwickInitiativeDiamond ALISONPartnerJONES Kreston Reeves LESLEY CommercialALCOCKDirector The MediaPlatinumGroup CEO/PublisherHOFFMANNMAARTEN The MediaPlatinumGroup Our illustrious steering committee guide the editorial tone of the magazine FIONA GRAVES Events Director The MediaPlatinumGroup MEET COMMITTEESTEERINGTHE

FROM ROSEMARY FRENCH OBE Chair of the Dynamic Steering Committee

While judging a Business Award recently I was heartened to read how well companies are recognising and helping staff on all health issues. In addition to mental health, well-being first aiders and neurodiversity advice, I noted that menopause mentors are common. In several cases, company charitable support has moved from the larger medical charities to Endometriosis UK, which I think is amazing.

Businesswomen have long been ‘bringing home’ the goods, too often with little recognition. In the world of sport, we can now proudly say that our Lionesses have been rightly acknowledged and praised for their fitness, team playing, resilience and perseverance. However, are the ‘esses’ on the end of lion not rather subservient? Why not tigers or even gazelles, if we want to remain zoomorphic?Iwondered how many of those players had the additional burden of their periods during the competition, remembering how hard it was

SUB EDITOR: ALAN WARES

ROSEMARY’S OBE WAS AWARDED FOR SERVICES TO WOMEN IN BUSINESS

WWW.PLATINUMMEDIAGROUP.CO.UK

alan@platinummediagroup.co.uktogetenthusedaboutanything, never mind vigorous sport, when I would get my monthly brain fog and lethargy.

PUBLISHER/EDITOR: MAARTEN HOFFMANN maarten@platinummediagroup.co.uk

EVENTS DIRECTOR: FIONA GRAVES fiona@platinummediagroup.co.uk

TRAVEL EDITOR: TESS DE KLERK tess@platinummediagroup.co.uk

HEAD OF DESIGN: MICHELLE SHAKESBY design@platinummediagroup.co.uk

DISCLAIMER All rights reserved. The views expressed in this publication are not necessarily those of the publisher. The publisher cannot accept responsibility for any errors or omissions relating to advertising or editorial. The publisher reserves the right to change or amend any competitions or prizes offered. No part of this publication may be reproduced without prior written consent from the publisher. No responsibility is taken for unsolicited materials or the return of these materials whilst in transit. Dynamic Magazine is owned and published by The Platinum Media Group Limited.

COMMERCIAL DIRECTOR: LESLEY ALCOCK lesley@platinummediagroup.co.uk

5 welcome

Contacts

The research, conducted amongst more than 500 GCSE, AS level and A level students, has revealed the extent of the impact of the cost-of-living crisis on students’ desire to pursue higher education. Three quarters say university is too expensive, while 55% want greater financial independence upon leaving school.

{up

A LEVEL NEWS The CEO of Calvin Klein has announced that she will step down before the end of the year. Trish Donnelly, chief executive officer of PVH Americas and Calvin Klein Global, will remain in an advisory role through November 30. She had served in the role for about 18 months, joining PVH from Urban Outfitters, where she spent six years, in February 2021. She also held prior leadership roles at J.Crew and Cole Haan.

I do not believe in using women in combat, because females are too fierce Margaret Mead

ACCREDITATIONMENOPAUSE front }

As students received their A level results on August 18th, new research among school leavers has revealed that almost half are considering ditching university to launch their own business.

CK NEWNEEDSCEO

Students are also considering advantages beyond cost, with more than half identifying being their own boss (54%) as the biggest, followed by more flexible working patterns (40%) and not having to work a 9-5 job (34%). Two-fifths (38%) want to follow their passion.

All the latest bulletins from the world of business

Boots has become the first health and beauty retailer to achieve an independent accreditation from Menopause Friendly Accreditation’s Independent Panel. This accreditation recognises the work Boots, Boots Opticians and No7 Beauty Company are doing to create a workplace culture where women can feel empowered to talk about the menopause transition and other important health issues and get the support they Meanwhile,need.

the same three organisations have also achieved the Age Inclusive accreditation from age diversity organisation, 55/Redefined. With over 51,000 Boots team members across the UK - 80% of whom are women, and 27% are over 50 - these two accreditations are important milestones in the work that the company is doing to support an inclusive and open workplace culture around age inclusivity, diversity and menopause awareness.

OFGEM RESIGNATION

Being a woman is a terribly difficult task since it consists principally in dealing with men Joseph Conrad

A drug used to prevent epileptic seizures and migraine has been found to double the chances of a child developing autism if the mother takes it while pregnant. An urgent review has been launched into topiramate, known by the brand name Topomax, which has been prescribed for Itdecades.follows warnings about another epilepsy drug, sodium valproate, marketing as Epilim, which has been looked to higher-than-normal rates of the same condition, plus congenital birth defects. Experts believe that over 20,000 babies have been harmed as a result.

Salma al-Shehab, 34, a mother of two young children, was initially sentenced to serve three years in prison for the ‘crime’ of using an internet website to ‘cause public unrest and destabilise civil and national security’. But an appeals court on Monday handed down the new sentence – 34 years in prison followed by a 34-year travel ban – after a public prosecutor asked the court to consider other alleged crimes.

7 NEWS

America is a land where men govern, but women rule

John Mason Brown

A non-executive director at energy regulator Ofgem has quit over changes to the way the energy price cap is set. Christine Farnish said she felt the regulator had not “struck the right balance between the interests of consumers and interests of suppliers”. Ofgem is in charge of setting the level at which domestic energy costs are capped every three months.

DANGEREPILEPSY

The case also marks the latest example of how the crown prince Mohammed bin Salman has targeted Twitter users in his campaign of repression, while simultaneously controlling a major indirect stake in the US social media company through Saudi’s sovereign wealth fund, the Public Investment Fund (PIF).

The watchdog thanked Ms Farnish “for her many years of devoted service”. Ms Farnish said she disagreed with a decision to change the cap to enable suppliers to recoup certain wholesale costs sooner - a measure the regulator has said would prevent more suppliers going bust.

An Ofgem spokesperson said: “Due to this unprecedented energy crisis, Ofgem is having to make some incredibly difficult decisions where carefully balanced trade-offs are being weighed up all the time.”

A Saudi student at Leeds University, who had returned home to the kingdom for a holiday, has been sentenced to 34 years in prison for having a Twitter account, and for following and retweeting dissidents and activists.

MORE SAUDI OUTRAGE

There are also other factors such as the time it takes a new employee to get up to speed, gain knowledge of the business, build customer relationships etc. So, it certainly makes more financial sense for businesses to invest in attracting and retaining employees for the longer term. The Office for National Statistics estimates the number of job vacancies in the UK between April-June 2022 has risen to 1,294,000, an increase of 6,900 from the previous quarter. Figures have been rising since JanuaryMarch 2020 and the beginning of the global pandemic when it stood at 498,400 UK job vacancies. The number of experienced staff over 50 that have decided to take early retirement is also at its highest levels ever seen and this drain of experienced staff is having a huge impact on all businesses. So aside from offering a competitive salary and employee benefits, what else can a business do to attract and retain the best employees? Here are some ideas based on our experience here at Kreston Reeves. Themes such as self-awareness, resilience, employability go hand in hand with challenging the way students think about their ambitions

SUPPORT YOUNG PEOPLE

CONSIDERING A CAREER IN YOUR SECTOR Kreston Reeves supports the LoveLocalJobs Foundations’ Dare to Dream programme which helps year 10 students in Sussex. The Dare to Dream programme helps to change the mindset and attitudes of young people, building their self-confidence and helping them to realise their full potential using newly learnt life skills.Themes such as self-awareness, resilience, employability go hand in hand with challenging the way students think about their ambitions. Our team has been fully involved in schools and have acted as mentors to those seeking to fulfil their potential, both personally and professionally. Whilst these young people may be a couple of years off entering the work place, we want them to know there are interesting and rewarding careers available in the accountancy profession and within our firm and that they all have something positive to offer.

8 FINANCE

The hidden long-termcosts of recruitment and retention

It is estimated that it can cost a business between six and nine months’ equivalent salary to replace just one salaried employee and for executive positions it is a much greater figure. Alison Jones, Partner at Kreston Reeves, looks into this further

We are very proud to be one of the first accountancy firms with Employer Training Provider inspectedstatusbyOfsted

Investing in your EVP is important and not only should it be resourced well but your senior team should be involved along with your HR and marketing teams and, of course, your employees should be involved in the decision process. It has been shown that a strong and well-defined EVP can make a significant contribution to encouraging people to choose to work for a business and retaining existing employees.

◗ Alison Jones is a Partner at Kreston Reeves and can be contacted at alison.jones@krestonreeves.com

Do your employees understand why your business is a great place to work?

We don’t just work together as a team for our clients, we also work together to help make a difference to the communities around us and to causes which are important to our employees. In June, two teams successfully completed a 24-hour walking challenge in aid of a number of local charities. One team took on the South Downs Way whilst the other team took on the North Downs Way, with both teams attempting to cover as much distance as possible. Both teams covered a terrific distance each of 106km and 98km respectively. It was a fantastic achievement for everyone involved and everyone who supported them. Naturally there are also other ideas which might benefit your business and will help to motivate your staff. For example, recent research from the Workforce Institute at UKG shows 74% of staff who felt they were listened to by their employer, were also more engaged and effective in their role.

FINALLY WHAT’S YOUR EMPLOYEE VALUE PROPOSITION (EVP)?

Communicating clearly and making sure it is also reality will help employees feel valued and choose to work for your business. Put simply they will understand what they are getting out of the transaction.

Providing employees with an opportunity to be open and honest and to express concerns or suggestions could be implemented in the form of a ‘Stay Interview’. Instead of waiting until annual reviews, or until someone hands in their resignation, your team can be encouraged to participate in regular interviews or less formal discussions. Make sure you listen and act on their feedback and to address any concerns that might be shared otherwise the whole exercise becomes pointless. The Institute’s research also highlighted that two in five job leavers who had not had a Stay Interview said it would have made an impact on their decision to leave. This tangible impact could save your business a significant amount of money each year and over the duration of an employee’s working career with you as well as improve the workplace for others.

WORK TOGETHER AS A TEAM BOTH IN AND OUT OF THE WORKPLACE

Clearly I’ve touched on just some of the issues here, and many people don’t go to their accountant for HR advice and support. But from my experience, by understanding the value you can bring to your business from investing in both your recruitment and retaining your staff means in the longer term you will add much greater value to your business.

9 FINANCE INVEST IN STAFF TRAINING AND DEVELOPMENT.

Kreston Reeves was really proud to have recently been rated ‘good’ in our first Ofsted inspection. It was one of the first inspections of an accountancy firm as an Employer Training Provider. The company has more than 00 people working across London, Kent, and Sussex, and 104 apprentices working across all areas of the business. Our ‘good’ rating across all aspects of training and support includes personal development, behaviour and attitudes, leadership and management and provision for learners with high needs. We are also very proud to be one of the first accountancy firms with Employer Training Provider status inspected by Ofsted which is helping to encourage greater diversity and inclusion and new routes into the profession.

10 BIG STORY

The success of England’s Lionesses in the Women’s Euros this summer finally put women’s football front and centre in the news - for the right reasons. It has been a long fight both on and off the field, but by no means the only fight women have had to put up to attain equal recognition.

BIG STORY BANNED SNUBBED& 11

By Alan Wares Women’s football banned by the Football Association in England from 1921 to 1972, purely because the authorities arbitrarily felt it was not a game for women. The fact that it was more popular than the men’s game at the time clearly piqued their ire further. It’s far from the only time in history that women have either been banned, overlooked, snubbed or even written out of history altogether. Dynamic takes a snapshot of other instances at the outright misogyny of female exclusion in daily life.

12 BIG STORY

STANDING AT THE BAR

However, in November 1982, Gill and Coote eventually won their case of sexual discrimination at the Court of Appeal, and women were finally allowed to buy their own drinks at the bar.

AOWNINGCREDIT

Just 40 years ago, journalist Anna Coote and solicitor Tess Gill won a major legal battle against El Vino in Fleet Street, London, a popular watering-hole for editors, journalists, and lawyers alike. El Vino had had a long-standing rule about women not being allowed to stand at the bar to buy or have a drink, and must be served at table in the back bar. Campaigners had fought against this discriminatory rule, believed to have been introduced straight after the war, as early as 1970, when a protest group of female journalists entered the pub and demanded to be served as equal citizens. They were treated with the disdain they had come to expect, and were frog-marched from the premises, with little sympathy from fellow male journalists. By the time the Sex Discrimination Act 1975 came in, El Vino was regularly fighting off legal cases, though the licensing authority - Westminster City Councilwas constantly siding with the bar, leading many people believe the Act was basically useless.

THE BOXING

Fortunately, the ban was not repeated. Finally, in 2012, women were not only watching but also taking part, as women’s boxing was added to the Olympic programme. In fact, the 2012 Games in London became the first in which women competed in all the sports categories.

WATCHINGCARD

The 2012 Olympic Games in London became the first in which women competed in all the sports categories This was a luxury women could only have fantasised about until the 1960s. While the tradition was that women were in charge of household budgets, many, if not most, had little say over the money itself. In the 1970s, wives (yes, wives, not women in general) in the US and UK could only get access to a credit card if it were co-signed by their husband. Single or divorced women still needed a man to co-sign their applications. This changed in the UK in mid-seventies, when the Sex Discrimination Act 1975 outlawed discrimination against women seeking to obtain goods, facilities or services, including loans or credit.

Although women were banned from watching the original Olympics in ancient Greece, the rebirth of the modern Olympic Games in 1896 meant an increasing number of female athletes and spectators. However, in 1930 an aversion to female attendees reared its head when the British army banned women from watching boxing matches. A report in the Ottawa Citizen - Canada was still a dominion of the British Empire at the time - stated authorities had decided boxing “was not an edifying spectacle for women”. They took particularly offence at more vocal women, stating: “Wives who are often keen and critical spectators are thus prevented from seeing their husbands compete.”

RIGHT

MARYLEBONE CRICKET CLUB

13 BIG STORY

The MCC was founded in 1787 as a male-only cricket club. The idea of admitting women - hitherto not welcome in the Pavilion, unless they were domestic staff - as members was discussed by the Committee in 1967, but it would be another 30 years before the rulesThechanged.catalyst for change came in 1990, when a membership application from Rachael Heyhoe-Flint, the most prominent woman cricketer of her generation landed on the President’s desk. When MCC took legal advice, the Club was surprised to discover that there was nothing in its own rules to prevent a woman becoming a Member, as the rules always referred to any ‘person’ who applied for Membership, and whether they were a man or a woman was never mentioned. However, the Committee responded saying that women were welcome to apply, whilst they also felt the need for the existing Members to support the move. For the time being, that support simply wasn’t there, meaning an application was always going to fail. Eventually in 1998, then-President, Colin Ingleby-Mackenzie, a supporter of women members at the MCC, put the question to the membership once more. It took two separate votes, but in September 1998, the motion was carried, ending 211 years of the exclusion of women from the Lord’s Pavilion. The rules were changed to make it clear that either men or women could become Members of MCC, and a group of 10 women were granted Honorary Life Membership, including HeyhoeFlint. Today, Clare Connor CBE is the MCC President, the first woman to hold the title.

Up until the 1930s women in Britain could not file for divorce unless they could prove their husband had been involved in acts of cruelty or had violated ‘rules of marriage.’ Increased pressure from activists eventually led to the Matrimonial Causes Act 1937, which meant either party in the marriage had the right to file for a divorce. The movement marked the beginning of the modernisation of divorce laws in the UK. TO A DIVORCE

But on January 23rd 1911, the French Academy of Sciences made a grave error against both history and science. At their meeting, Marie Curie was proposed for membership — and promptly voted down.

Marguerite Perey, a French physicist who discovered the element francium, was the first woman to be elected – in 1962, more than half a century after Curie’s defeat, and almost 30 years after her death. Who was Perey’s professor and mentor?

KATHERINE

Johnson was a mathematician who worked for NASA’s predecessor – the NACA – from 1953. Her work included calculating trajectories, launch JOHNSON THE WRITTENMATHEMATICIANOUTOFHISTORY

Scientists and academics across the world were appalled at the Academy’s treatment of Madame Curie. This was compounded 11 months later when she was awarded the Nobel Prize for chemistry. Not only was Curie the first woman to win the Nobel Prize, she remains the only woman to receive it twice for And Curie is still not a member of the French National Academy, even posthumously.

It was said Apollo XI astronaut Buzz Aldrin trusted ofcalculationsJohnson’soverthoseNASA’scomputers

14 BIG STORY

PROTECTIONEMPLOYMENTACT1975

This law finally made it illegal for businesses to fire women for being pregnant. The legislation also established that women were entitled to take maternity leave, and that they had the right to return to their position after doing so. However, despite this law being in place for nearly 50 years, the UK’s Equality and Human Rights Commission estimates that over 50,000 women are sacked - illegallyevery year for being pregnant, and denied jobs for being of ‘child-bearing’ age.

As highlighted in previous editions of Dynamic, the gender pay gap is alive and kicking

THE

This is a tiny snapshot of how women have been excluded or ignored through recent history, and that doesn’t consider the implications of the recent US Supreme Court ruling on the landmark 1973 Roe v Wade case. This has been further brought to the fore in the UK by Danny Kruger MP, who feels that women should not have full bodily autonomy, and that it should be a matter for political decision-makers. Clearly, a long way to go.

15 BIG STORY

The right to vote may seem an obvious, page-one aspect of a functioning democracy, but in many states –including across western Europe – women’s voting was illegal. Millions of women around the world have fought for this basic human right – at some cost. Some have lost their liberty, and even their lives over it.

Australia likes to make a progressive claim to allowing women the vote, as they did in 1902. However, this was for non-indigenous women only. The indigenous population didn’t get full rights until 1962. It wasn’t until 1906 that the Duchy of Finland – the first European state – allowed universal suffrage, although that was then part of Russia, and not an independent country. The first independent European state to offer women voting rights was Denmark in 1908. From 1918 to 1928, women could vote at 30 with property qualifications or as graduates of UK universities, while men could vote at 21 with no qualification. From 1928, women had equal suffrage with men. It’s the Gulf states who are dragging their feet over this issue. While technically, all of them allow women to vote (Saudi Arabia since 2015), some are absolute monarchies, while in others elections are either indefinitely delayed, or the notion of democracy has little value.

* The Isle of Man has had universal suffrage since 1881, although is not regarded as a nation state.

By the turn of the 20th century, only New Zealand* afforded all women full voting rights, just 129 years ago.

SUFFRAGEOFFROMSUFFERINGLACKUNIVERSAL

This act made it illegal to pay women less than men for the same amount of work. It also made it illegal to give women less favourable conditions of employment than men. Some employers attempted to find a loophole in the law by rewriting women’s job descriptions so they wouldn’t have to raise their pay, or by creating new positions for which there were no male equivalents hired. Thankfully, this generally received resistance from localHowever,authorities.50years later, as highlighted in previous editions of Dynamic, the gender pay gap is alive and kicking, despite all companies employing over 250 staff being obliged to publicly report their salaries.

EQUAL PAY ACT 1970

Samantha Kaye, from Wellesley, discusses how putting plans in place for retirement can go a long way towards boosting your mental health and sense of well-being, not to mention the important role she can play in guiding you towards the financially comfortable future you aspire to

RETIREMENTBENEFITSWELL-BEINGOFSMARTPLANNING

Taking a positive approach and actioning some collaborative planning could make a huge difference to your well-being – both in the lead-up to, and during retirement

There’s no such thing as the ‘wrong’ reaction, whether that’s anxiety and fear, or optimism and excitement. Indeed, it could all well depend on where you are in relation to this turning point, and to what degree you feel prepared for it. After all, along with milestones such as landing your first job, getting married and starting a family, retirement is a major life-changing event.Would it reassure you if I were to say that taking a positive approach and actioning some collaborative planning could make a huge difference to your well-being – both in the leadup to, and during retirement?

THE

Ladies – when you think about retirement, what emotional response does it trigger?

Wellesley is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Groups wealth management products and services, more details of which are set out on the Groups website www.sjp.co.uk/products. Wellesley is a trading name of Wellesley Investment Management Ltd.

THE POWER OF EMOTION Retirement can be one of the top emotional upheavals in your life, and it goes without saying that we can fall prey to external pressures from those around us when it comes to decisionmaking, thereby endangering our behaviour and outcomes. This is where professional advice comes into its own, as a way of separating facts from feelings when it comes to finances. I can help you pinpoint your retirement goals as part of a five to ten-year plan, establish what you wish to achieve, and work with you to put a plan in place sooner rather than later, while giving you the confidence to action more on your own terms, too. So don’t feel alone, let me help you embrace the many well-being benefits that financial planning has to offer.

WELL-BEING

Getting into a regular savings habit can be a hugely positive first step to take in feeling confident about your retirement. All the more so in the current climate, where people have learned to take ownership of their money and strengthen their financial resilience, despite all the hardships. Regular savings could support your goals over the short, medium and long term – along with the appropriate product. For example, if you’re saving for retirement, tax-efficient pensions are a typical starting point. Have you taken out a workplace pension? Chances are that your employer is paying into it too, and the tax relief available on pension contributions is a great government incentive to save, save, save! What’s more, you can build up your ISA investments over that period – and property could equally have a part to play, too.

ALL PROGRESS IS GOOD PROGRESS If you feel at all confused by the ins and outs of long-term saving – what you can and can’t do, and which products give the best value – you’re not alone. Just remember that the secret to making progress is to get started, no matter how small the first step is. This can really give you peace of mind and hope for the future.

Let’s start a conversation today.

◗ Samantha Kaye, Chartered Adviser Wellesley House, 50 Victoria Road, Burgess Hill, West Sussex RH1 9LH 01444 samantha.kaye@sjp849809p.co.ukwww.wellesleywa.co.uk

PROMOTIONAL FEATURE

The value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.

The levels and bases of taxation, and reliefs from taxation, can change at any time and are generally dependent on individual circumstances.

WITH CONFIDENCE COMES

Believe in yourself! A major part of financial well-being is about having a sense of confidence, so don’t worry if you lack financial knowledge or indepth understanding about financial products.True,you might feel under pressure to make the ‘right’ choices and risk the ‘wrong’ outcome if you choose to not seek professional advice. Yet the control over retirement that we enjoy nowadays can open up more doors, too –for example, having more say over when we retire. I would always say to go with your gut instinct. For instance, what does retirement look like for you? Would you like to retire at a certain age or just go with the flow? Starting with this simple goal can make preparation that much easier.Try not to be swayed by what works for others – this is truly all about you. Mapping your goals and putting a plan in place helps to give you a sense of well-being.

Whilst in command she has been responsible for providing information and communication services, command support and capability development, in support of formation headquarters up to and including the Allied Rapid Reaction Corps and the UK Joint Force Headquarters. Higher command appointments were the 1st (United Kingdom) Signal Brigade and General Officer Commander the Army Recruiting and Initial Training Command.

Lieutenant General Sharon Nesmith

Lieutenant General Nesmith

Sharon Nesmith has taken up the role of Deputy Chief of the General Staff (DCGS), becoming the first female British Army officer to hold the rank of Lieutenant General and occupy this prestigious role. The appointment was approved by her Majesty The Queen.

General Nesmith is the Master of Signals, a Colonel Commandant for the Royal Electrical and Mechanical Engineers, and a Vice President for Army Football and Army Rugby. I am excited to be playing my part in leading the Army’s mobilisation to meet today’s threats, and the delivery of our Future Soldier’s bold modernisation agenda

Raised in Northumberland, Lieutenant General Sharon Nesmith commissioned into the Royal Corps of Signals in 1992, spending the majority of her early years serving in Germany, the Balkans and Iraq.

According to the Hampton-Alexander Review, there has been “a concerning” lack of female representation in leadership positions and key executive roles among UK companies Staff appointments have been focussed on capability development, resource planning and personnel. She has completed the Higher Command and Staff Course and is a graduate of the Major Projects Leadership Academy. She has served as Colonel Capability Plans in the Army Headquarters, the Head of Manning as a Brigadier, and the Director of Personnel as a Major General. She has also been the Senior Responsible Officer for the Armed Forces Recruiting Programme. She became the Deputy Chief of the General Staff in August 2022.

18 INSPIRATIONAL WOMEN

WOMENINSPIRATIONAL

Lieutenant General Nesmith said: I am deeply honoured to be appointed as the Deputy Chief of the General Staff at such a pivotal time for the British Army. I am excited to be playing my part in leading the Army’s mobilisation to meet today’s threats, and the delivery of our Future Soldier’s bold modernisation agenda.

Defence Secretary Ben Wallace said: I am delighted that Sharon Nesmith has taken up her role as Deputy Chief of the General Staff. She brings extensive experience and new ideas to drive the Army’s transformation and deal with emerging threats across the world.

Jo joined Sussex Police in 2018 as Deputy Chief Constable and became the force’s ninth Chief Constable in July 2020, and is the first female Chief Constable in the history of Sussex Police. Jo is the National Police Chiefs’ Council lead for Roads Policing, and has always had a strong belief that the effective policing of our roads will reduce crime and save lives.Jo’s career in the police spans nearly 30 years, during which time she has undertaken a wide variety of roles. These have predominantly been operational, both in uniform and within Child and Adult Protection Units, CID and as Firearms, Public Order and Critical Incident Commander.

19 INSPIRATIONAL WOMEN

Jo started her policing career in Norfolk in 1993, serving up to the rank of Chief Superintendent. She then transferred on promotion to Kent as Assistant Chief Constable in 2014. Throughout her career she has been committed to taking a preventative and proactive approach to policing –working closely with partners. Her strong belief is that there are very few circumstances where policing alone is the answer. As Deputy Chief Constable in Sussex, Jo was responsible for the effective and efficient running of Sussex Police, and delivering the services that communities expect and deserve. She has been pivotal in ensuring that additional investment into the force has bolstered operational policing and delivered visible results. This includes new proactive Tactical Enforcement Units, an increased panSussex Rural Crime Team and Local Resolution Teams, which protect and support victims of domestic abuse. Jo has also overseen investment in additional PCSOs, Roads Policing officers and has driven the recruitment of more police officers, as well as investment in the Force Contact Command and Control Department. On becoming Chief Constable of Sussex, Jo set out three clear priorities: ◗ To protect communities ◗ Catch criminals ◗ Deliver an outstanding service to victims and witnesses. This is underpinned by a professional, healthy, diverse and inclusive workforce that take pride, and are valued, for the work they do. Throughout her career Jo has been committed to taking a preventative and proactive approach to policing – working closely with partners Chief Constable Jo Shiner

51% of SMEs reported green energy as a high priority for the year ahead, up from 42% in March

This suggests that approximately two-thirds of SMEs (66%) will have switched at least some of their external vendors to domestic suppliers by the summer of 2023. On a five-year horizon, this figure rises to threequarters of SMEs.

A further 20% are looking to re-shore at least part of their supply chain to boost sustainability during the year ahead.

The latest NatWest Sustainable Business Tracker shows encouraging signs that UK businesses are seeking to reduce the carbon footprint of their supply chains.

SPRING SUSTAINABILITYTO

Andrew Harrison, Head of Business Banking at NatWest Group, said, “Global supply chain pressures have focused SMEs’ priorities on switching to UK suppliers. This ensures they have the consistency they need while matching up to their increased sustainability priorities. It’s good news that it’s been paired with a higher

Nearly half of all SMEs (46%) have already switched to a domestic supplier due to sustainability concerns.

SMEs indicated that increasing recycling (60%) and having cleaner business processes (54%) were the biggest focus areas of sustainability, with both rising in priority since March.Results also highlight a considerable slowdown in business activity growth at small and medium-sized enterprises across the UK, with the speed of recovery the weakest since February 2021. Weak customer demand in response to the passing of sharply rising input prices on to them, as well as the uncertain economic outlook, was cited by survey respondents. The increasingly challenging global economic backdrop did not prevent an increase in the prioritisation of sustainability action among SMEs though. 43% said it was a priority in June, up from 40% in March, this was the highest since the start of the pandemic (44% in February 2020).

Another way that firms have readjusted their global supply chains has been through switching to suppliers that have environmental credentials, with 28% of surveyed SMEs having done this already. A further 20% of SMEs are planning to switch to

21 BUSINESS ◗ www.natwest.com/business.html

SMEs indicated that increasing recycling (60%) and having cleaner business processes (54%) were the biggest focus areas of sustainability suppliers with better environmental credentials over the next year. Three of the five sustainability priorities of the Sustainable Business Tracker increased since March 2022, with low carbon energy consumption seeing the biggest rise in prioritisation. Some 51% of SMEs reported green energy as a high priority for the year ahead, up from 42% in March, and the largest percentage in the survey history. Firms shared their plans to boost low carbon energy consumption by installing solar panels on site, as well as investments in battery storage and electric vehicle charging infrastructure.

prioritisation of low carbon energy consumption as well as ambitions to increase recycling.

“NatWest’s Springboard to Sustainability report, published in October 2021, found that 50% of the UK’s carbon reduction ambition can be delivered by the SME sector. This could also unlock a £160 billion opportunity for them. Sustainability, recovery and growth go hand-in-hand, and SMEs need to be supported to know how to make the most of the opportunities that lie ahead. We at NatWest are doing our best to support them.”

This has now been proven to be false, writes Tess de Klerk

inimbalancebyisDepressionnotcausedachemicalthebrain

An exhaustive umbrella review – an overview of existing meta-analyses and systematic reviews - carried out in 2022 by University College London (UCL) scientists found no evidence in support of the popular ‘serotonin hypothesis’. It comes as no surprise that the ‘serotonin hypothesis’, or interchangeably used term, ‘chemical imbalance’ emerged simultaneously as the introduction of Prozac to the market in the late 1980s, and this narrative has been heavily promoted by the pharmaceutical industry and legitimate professional organisations alike. It has encouraged people to think of their psychological difficulties in terms of chemical brain processes and has led to antidepressants frequently hailed as the first and best intervention strategy. This narrative provided relatively easy answers to the medical profession and suffering patients alike and doctors started prescribing antidepressants with sometimes reckless abandon, elated that they had an answer in pill form. Of course big pharma profits Since the 80s we have been told that the majority of cases of depression have a biochemical root cause – an imbalance of chemicals in the brain, including a deficiency in serotonin.

If your medical professional explains depression in terms of ‘chemical imbalance’ then its time to find a different professional

soared. Even when it became apparent that these meds were effective in roughly half of patients only, or that SSRIs could cause worsening of suicidal ideas in vulnerable patients, or that withdrawal symptoms could be severe and debilitating, they kept prescribing. It made sense to, while believing that depression had a biochemical cause and that the meds ‘fixed’ that. Akin to putting a broken arm in a cast. But what the highly regarded UCL study now proves is that there is no consistent evidence showing an association between serotonin and

HEALTH

◗ Journal Reference: Joanna Moncrieff, Ruth E. Cooper, Tom Stockmann, Simone Amendola, Michael P. Hengartner, Mark A. Horowitz. The serotonin theory of depression: a systematic umbrella review of the evidence. Molecular Psychiatry, 2022; DOI: 10.1038/s41380-022-01661-0

Joanna Moncrieff, MD, Professor, and lead author of the study says: “I think we can safely say that, after a vast amount of research conducted over several decades, there is no convincing evidence that depression is caused by serotonin abnormalities, particularly by lower levels or reduced activity of serotonin... Many people take antidepressants because they have been led to believe their depression has a biochemical cause, but this new research suggests this belief is not grounded in evidence.” It is important to note that the study did not review the efficacy of antidepressants. The medications work for millions of people. But now no one knows why or how they work. Interestingly, studies have shown that the pharmacological effects of antidepressants are frequently no better than those produced by a placebo and may not ultimately improve quality of life in the long term. A 2010 review of the literature summarised: “Metaanalyses of FDA trials suggest that antidepressants are only marginally efficacious compared to placebos and document profound publication bias that inflates their apparent efficacy…

Conclusions: The reviewed findings argue for a reappraisal of the current recommended standard of care of depression.” Depression, the reasons for it and its treatment cannot be boiled down to chemical equations. The review also found strong links between adverse and traumatic life events and the onset of depression, which points to the possibility that environmental stress factors override internal brain processes in the emergence of the disorder. And antidepressant medications are not a miracle cure for that. The authors encourage further research and advice into treatments that might focus instead on managing stressful or traumatic events in people’s lives, such as with psychotherapy, alongside other practices such as exercise or mindfulness, or addressing underlying contributors such as poverty, stress and loneliness. But why do these findings matter?

As Prof Moncrieff said: “Our view is that patients should not be told that depression is caused by low serotonin or by a chemical imbalance, and they should not be led to believe that antidepressants work by targeting these unproven abnormalities. We do not understand what antidepressants are doing to the brain exactly, and giving people this sort of misinformation prevents them from making an informed decision about whether to take antidepressants or not.” If your medical professional explains depression in terms of ‘chemical imbalance’ then its time to find a different professional.

23 depression, and no support for the hypothesis that depression is caused by lowered serotonin activity or concentrations.

24 LEADERSHIP

According to the Hampton-Alexander Review, there has been “a concerning” lack of female representation in leadership positions and key executive roles among UK companies OF WOMEN ON BOARD Diageo PLC 60 2 Auto Trader Group 55.6 3 Burberry Group PLC 54.5 3 Admiral Group PLC 54.5 Rightmove PLC 50 4 Halma PLC 50 4 Severn Trent PLC 50 5 London Stock Exchange Group 46.2 6 ITV PLC 45.5 6 Melrose Industries PLC 45.5 Pearson PLC 44.4 8 WPP PLC 42.9 8 B&M European Value 42.9 JD Sports Fashion PLC 42.9 9 InterContinental Hotels Group PLC 41.7 10 Next PLC 40 10 BP PLC 40 AstraZeneca PLC 38.5 GlaxoSmithKline PLC 38.5 Dechra Pharmaceuticals PLC 37.5 The British Land Company PLC 36.4 Rio Tinto PLC 36.4 Legal & General Group PLC 36.4 J Sainsbury PLC 33.3 Phoenix Group Holdings 33.3 Average 44 COMPANIES WITH BOARD

RANK COMPANY %

FTSE100

HIGHEST PERCENTAGE OF WOMEN ON THE

Small Business Price, a business-tobusiness data comparison website, has explored publicly available data by the Financial Times Stock Exchange (FTSE) 100 and 250, which are all part of the FTSE 350. The data explores females in leadership, revealing which companies in the UK have the largest and smallest number of female members on the Board of Directors.

The Financial Times Stock Exchange, often shortened to FTSE, is frequently referred to as the “Footsie” and is now branded as FTSE Russell. It is a global index leader, providing innovative benchmarking, analytics, and data solutions for investors worldwide. FTSE Russell is wholly owned by the London Stock Exchange Group. By analysing data from the FTSE 100, Small Business Price has created a leaderboard of the top 25 companies in the UK with the largest percentage of female members on the Board of Directors and found that Burberry had the highest. From analysing data from Glassdoor, on average, the top 25 companies that possess the greater number of women on their board of directors scored higher in ratings in all categories: overall rating, culture and values, diversity and inclusion, work-life balance, senior management, compensation and benefits and career opportunities.

WHAT IS THE FINANCIAL TIMES STOCK EXCHANGE INDEX?

WOMEN LEADERSHIPIN

RANK COMPANY % OF WOMEN ON BOARD 1 Vivo Energy PLC 22.2 2 CMC Markets PLC 25 2 Renishaw PLC 25 2 Carnival PLC 25 2 BALFOUR BEATTY PLC 25 2 Bodycote PLC 25 3 Homeserve PLC 27.3 3 Helios Towers PLC 27.3 3 Aston Martin Lagonda Global Holdings 27.3 3 Wizz Air Holdings 27.3 4 DiscoverIE Group PLC 28.6 4 Grafton Group PLC 28.6 4 Frasers Group PLC 28.6 4 Oxford Instruments PLC 28.6 4 Bytes Technology Group PLC 28.6 4 Ultra Electronics Holdings PLC 28.6 4 Hilton Food Group PLC 28.6 4 BBGI Global Infrastructure S.A. 28.6 4 Trainline 28.6 5 Clarkson PLC 30 5 TI Fluid System 30 5 Network International Holdings 30 5 Capita PLC 30 5 Weir Group Holdings 30 6 Airtel Africa PLC 30.8 Average 27.78 WOMEN ON THE BOARD Averageboardsize onwomanTotalboard Executivewomanonboard Averageboardsize onwomanTotalboard Executivewomanonboard 1086420 10 5 1 1 2 9 The data illustrates that the companies with more women in leadership positions have higher satisfaction in every category TOP 25 BOTTOM 25 FTSE250 COMPANIES WITH LOWEST PERCENTAGE OF WOMEN ON THE BOARD

25 LEADERSHIP

By analysing data from the FTSE 250, Small Business Price has also created a leaderboard of the 25 companies in the UK with the smallest percentage of female members on the Board of Directors. It discovered that Vivo Energy PLC which ranked first in the below table had the lowest. According to the FTSE report, on average, the 25 companies that have the least number of women on their board of directors scored lower than the top companies in ratings in most categories. For example, in overall rating, culture and values, diversity and inclusion, work-life balance, senior management, compensation and benefits and career opportunities.Overall,the data illustrates that the companies with more women in leadership positions have higher satisfaction in every category, such as culture and values, diversity and inclusion, work-life balance, senior management and compensation and benefits. For example, the average score for culture and values for companies in the top 25 was 3.9 compared to 3.5 out of 5 for those in the bottom 25.

SEAT has a deeply entrenched history of Spanish symbolism, and it appears that the citizens of modern day

SEAT

DYNAMIC

Not least as not many cars I have ever driven have been named after a beautifully preserved Roman amphitheatre in Catalonia, designated a UNESCO world Heritage site in 2000.

They say first impressions count. I had quite high expectations of the SEAT Tarraco –even before I drove it. By Fiona Shafer

Tarragona (formerly known as Tarraco) even had a vote on the name of the car. Now that is what I call people power! However, when it arrived, rather like a miniature Sherman tank on my drive (minus the gun turret obviously), the first thing that sprung to my mind was ‘how very grey it all was’. Think Sir John Major grey. But like our former premier, it turned out to be full of Sunday morning surprises once I managed to work out how to start it (it had a numb clutch thing going on which I found rather disconcerting).

26 With seven seats, its interior design is very upright, tidy, comfortable, practical and highly organised

TARRACO

Starting out life as a manufacturer of badge engineered Fiats in Spain, the Spanish brand became a wholly owned subsidiary of the Volkswagen

◗ The fuel consumption gauge not easy to see. ◗ Not the widest of cars for three people in the back. ◗ The space between the two child seats is a bit limited.

27 MOTORING Group in 1990, and was their ﬁrst nonGerman marque. So as a big fan of VW, I was not at all surprised by how it both looked and performed. I was also curious to see how it compared with my Landrover Discovery Sport. Pretty well, as it happens, just as long as you don’t go oﬀ-roading any time soon alongside its close competitors - the VW Tiguan Allspace, Skoda Kodiaq, Kia Sorrento and Peugeot 008. In keeping with SEAT’s simplicity of design, the Tarraco is a very straightforward car. With seven seats, its interior design is very upright, tidy, comfortable, practical and highly organised. Nothing fancy at all. What you see is what you get, quite literally. You won’t be caught slouching in this car anytime soon. I do like the addition of a wave of your foot that opens the ◗ Very comfortable driving seat with lots of seats adjustments available. ◗ Fantastic visibility and blind spot monitoring. ◗ Luggage capacity – with seats up (230 L), with seats down a whopping (700 L). ◗ Great big water bottle and coffee cup holders throughout. ◗ Lever for boot inside driver’s door in a sensible place for a change. ◗ Good sound system. ◗ Place holder for your mobile phone. ◗ Frameless mirror. ◗ Three-year warranty up to 60,000 miles, similar to VW and Skoda. ◗ 9.2-inch Infotainment screen and Simply, a very sensible car that will probably last a small lifetime.

NAY YAY

Model tested: FR 2.0-Litre TDI Engine: 2-litre TDI Power: 200 bhp Speed: 0-62 – 7.8 secs Top: 130 mph Economy: 43.8 mpg combined Price from: £31,890 As tested: £43,000STATS

rear hatch automatically, which is rather handy when your hands are full of bags, or children when leaving the supermarket.Itisalso scores highly on the safety front. A class leader for safety technology with a five-star Euro NCAP score of 97% in the adult occupant category, and a very respectable 79% for safety assist. The pre-crash assist system claims to react in 0.2 seconds to prepare occupants for an impact by tightening seatbelts, closing windows and sun roof, while activating warning lights to increase safety during and after a crash. There is also a rollover assist which turns the engine off, makes an emergency call, unlocks doors and activates hazard lights if the car should roll over. And then there is the sporty bit. This was the big surprise for this type of car. It is really light, has precise steering, and handles well for such a big car, although I do worry that at speed the kids in the very back might feel like they are strapped into a ride at Alton Towers. It does 0-60 mph in 7.8 seconds with a top speed of 130 mph. It has a firmer suspension than some of its close rivals. Stick with the SE Trim and 17-inch alloys and you will find it manages country roads better than most. It really does snap you out of any gentle reverie.

DYNAMIC

THE VERDICT

7/10

◗ You can only get the seven-seater and not the ﬁ ve-seater in the UK. ◗ Slightly numb clutch pedal was disconcerting and hard to predict.

◗ The tech is very basic – not always a bad thing.

◗ Two rear seats particularly cosy for children - you are unlikely to see them at all for the entire duration but not great at all for adults.

Mercedes-Benz of Guildford 01483 916291 sandown-group.co.uk The new all-electric EQE For more information please contact our Sales Team at Mercedes-Benz of Guildford on 01483 916291 Moorfield Road, Guildford, GU1 1RU Business avant-garde with progressive luxury The EQE features a sporty design with all the characteristic elements of Mercedes-EQ, one-bow lines and cab-forward design. Sensual Purity is reflected in generously modelled surfaces, reduced joints and seamless design. The overhangs and the front end are kept short, the rear provides the dynamic accent with a sharp rear spoiler. Flush with the outer edge of the body, the 19- to 21-inch wheels, together with a pronounced muscular shoulder section, give the EQE an athletic character.

Platinum Business Magazine - issue 101

Articles inside

Hobby Holidays

Cleankill

BIPC

NatWest Entrepreneur Accelerator

Better Business Show 2022

NatWest client profile

Sussex Innovation

Haines Watts

MDHUB

DMH Stallard

Sir Salman Rushdie

Surrey Research Park

Mattioli Woods

Where is the Opposition?

Mayo Wynne Baxter

Kreston Reeves

Loch Associates