Surrey Business Magazine - issue 52

SURREY

BUSINESS THE OFFICIAL SURREY CHAMBERS OF COMMERCE MAGAZINE

DYNAMIC AWARDS All the results inside

Business succession planning MOTORING Maserati Quattroporte

ISSUE 52 JULY 2022

DYNAMIC MAGAZINE The $600 million woman Sheryl Sandberg The only adult in the room

TRAVEL A day in Reykjavik

Sir Graham Brady TRYING TO KEEP THE CONSERVATIVE PARTY TOGETHER

SURREY CHAMBERS OF COMMERCE CONNECTING PROMOTING SUPPORTING & REPRESENTING YOU AND YOUR BUSINESS

CALL US TODAY AND JOIN SURREY'S MOST INFLUENTIAL BUSINESS NETWORK @SURREYCHAMBERSOFCOMMERCE

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J U LY 2022

CONT ENT S 30

66

FINANCE

24 Invest for your child’s future in the new tax year 42 Banking crypto investment losses with tax authorities 51 Wealth planning conversations for business owners

BUSINESS

16 BIG STORY

30 The Brady bunch

EVENT

14 Double gold for RSM at Magic Circle Awards 20 Central South Business Awards 2022 28 Invest in Surrey 40 Under 40 Awards 40 Speedee boarding 49 The Better Business Show is back!

52 Sussex Business Awards 2022 62 Surrey Business Awards 2022 65 CREST22 Awards – all the winners

LEGAL

26 Protecting your confidential business assets 36 Working 9 til 5 – no longer the way to make a living?

60 Business succession planning

72

11 Getting the best from hybrid working 16 25 years of making life work with mental illness 17 Challenging the perceptions of hospitality careers 34 Family business pensions – are you missing out?

38 Roscomac Precision CNC Machining 46 How to prepare for a finance application 56 Case study: GoJoe 66 How can businesses reduce their carbon footprint?

EDUCATION

44 Schools – needed more than ever

INNOVATION

54 Meet the Sussex Pioneers

ECONOMY

58 NatWest’s market analysis

CHARITY FOCUS

68 Join Team Chestnut this summer

20

MOTORING

74 Maserati Quattroporte Trofeo

74 TRAVEL

72 A day in Reykjavik

PLATINUM MEDIA GROUP

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

PRESSURES CONTINUE TO MOUNT IN ALL ASPECTS OF BUSINESS START-UP ACADEMY

We held an excellent graduation celebration for all the businesses that took part in our second Startup Academy, and we are now looking forward to recruiting the next cohort.

We are welcoming pre-starts and early start businesses (up to three years) to take advantage of this invaluable support. They will benefit from a stellar group of presenters across nine sessions at the Login Business Lounge, Camberley. At the end of the nine months, they will each have a fantastic set of resources to use for the future of their businesses.

SURREY BUSINESS AWARDS

These awards are heralded as one of the best in the country, and we are delighted to be working with Platinum again this year to make them even bigger and better. There are still a couple of sponsorship opportunities available so do contact us if you are interested. Many of you deserve to be recognised for how you have met the challenges of the past two years. Make sure you enter at least one category.

Go to www.platinummediagroup. co.uk/events/surrey-business-awards for the details.

❛❛ The most frequent concern

we are currently hearing is around the difficulties of recruitment ❜❜

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70 YEARS OF HM QUEEN ELIZABETH II’S PATRONAGE

Surrey Chambers, along with the British Chambers of Commerce, has celebrated 70 years of Her Majesty The Queen being our patron. She has always been very interested in the business community and we thank her for her constant support.

WHAT IS HAPPENING TO GDP (THE VALUE OF THE ECONOMY)?

The fall of 0.3% in April, following a 0.2% decrease in March, highlights the increasing stress our economy is under. All main sectors have seen a fall in growth - the first time since January 2021. This decline is the inevitable outcome of surging inflation, supply chain disruption and widespread skills shortages.

Businesses from all sectors are facing unprecedented rises in raw material costs, soaring energy bills, and wage pressures. The introduction of an increase to employer National Insurance Contributions in April has only further added to firms’ woes. This declining output comes off the back of two years of significant damage sustained by small businesses, whose weakened cash positions mean that they are in a far worse position to stomach further pressure.

WELCOME

WHAT IS CHALLENGING BUSINESSES NOW?

The most frequent concern we are currently hearing is around the difficulties of recruitment. An increasingly tight labour market means it’s much harder for employers to fill job vacancies – impacting on their ability to operate normally and retain skills in the business. With a new record set for the number of vacancies, and no easy way to fill them for many companies, labour shortages are starting to damage growth prospects.

Despite recruitment difficulties, the damage to firms’ finances from soaring inflation and rising National Insurance will limit the extent to which wages can

continue rising. We need to find ways to bring people back into the labour market. Flexible working practices, rapid re-training opportunities and a focus on workplace health can support many economically inactive people to return to the workplace. But for some roles, where there is clear evidence of a national shortage of skills and labour.

Firms need access to people, at all skill levels, from outside the UK and we are keeping the pressure on Westminster to address this.

Surrey Chambers of Commerce can be reached on 01483 735540, info@surrey-chambers.co.uk, @surreychambers www.surrey-chambers.co.uk

Louise Punter CEO Surrey Chamber of Commerce

AND WHILE YOU’RE HERE...

Platinum Media Group enjoys the largest circulation of any business magazines in the UK, reaching over 720,000 readers across the South East and this includes 468,000 online readers. If you can’t wait for the next issue then jump onto our social media platforms and join the conversation.

@platbusmag Platinum Publishing Group www.platinummediagroup.co.uk

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#CHAMBERBUSINESS At the heart of our local business communities, we’ve got the understanding, data, insights, services and expertise to support you and your business

SURREY CHAMBERS OF COMMERCE

DON’T JUST JOIN – JOIN IN! Why being a member of Surrey Chambers of Commerce is good for business, locally, nationally, and globally We are Surrey’s largest not-for-profit business support and networking, organisation

We act as a catalyst by connecting you to opportunities, skills, knowledge and valuable contacts

All of our services and products are directed by the business community for the business community

As a member, there are many marketing opportunities available to you, designed to help you maximise your membership

Visit www.surrey-chambers.co.uk or call: 01483 735540 Please email our Head of Membership for further details sarah.butcher@surrey-chambers.co.uk

CHAMBERS NE WS SURREY CHOICES ‘CELEBRATING SUCCESS AWARDS 2022’ On May 17th, Surrey Choices celebrated disabled people and partners at its first ever Celebrating Success Awards ceremony at Denbies Wine Estate.

Families, friends, and colleagues came together to recognise this year’s winners in beautiful surroundings.

The Celebrating Success Awards highlight the achievements of people supported by Surrey Choices. The judging panel comprised of disabled people and colleagues from Surrey Choices. They were impressed by how each of the winners had overcome challenges, achieved new goals and were inspired by the way they demonstrated the values.

and where the winners and many others have improved their skills and wellbeing.

Winners were recognised in one of four award categories: Health and Wellbeing; Independent Living and Life Skills; Friends Relationships and Communities; Employment, Volunteering and Vocational Learning.

The awards also recognised some of the many businesses, schools and colleges which Surrey Choices works

with. One of the partnership winners, Stripey Stork, collects donations for babies and children, and then rehomes them with families experiencing hardship across Surrey. They are extremely understanding of the needs of disabled and autistic people and make adjustments to support everyone to work. They use visual aids to help volunteers know what tasks to do.

The team listens to the needs of each volunteer and comes up with solutions to ensure that everyone can join in.

The awards also recognised employers and organisations the company works with in the community who have created supportive and inclusive environments,

The Celebrating Success Awards 2022 had a profound impact on everyone in the room. From tears of joy, cheering, and laughing, the guests walked away feeling inspired. The awards shone a light on people’s personal achievements, development and fulfilment with Surrey Choices. www.surreychoices.com

BROOKLANDS HOTEL ACHIEVES GOLD ECOSMART ACCREDITATION

to achieve gold ECOSmart accreditation as part of our journey to become a more sustainable business.”

Brooklands Hotel is on a journey to achieve rigorous environmental and sustainable practices across its business. The first step on this journey was to work with Greengage Solutions who independently identified and documented its current sustainable processes and measures. The awarding of Gold ECOSmart status reflects the extensive measures it takes to fully embrace environmental sustainability.

Bar & Grill and our corporate and social responsibilities.

ECOSmart is the accreditation programme of Greengage Solutions, which recognises and supports ecofriendly hotels that meet certified standards of sustainability.

Marco Gervasoni, General Manager, said, “We understand the importance of protecting the environment and take our corporate and social responsibility and environment policies Brooklands’ current sustainable practices include processes to conserve very seriously. Brooklands Hotel has water and energy, minimise waste while a ‘green’ committee that meets regularly to monitor processes in maximising recycling in all areas of the place and to discuss new ideas hotel, sustainable food and beverage across the business. We are delighted management in the 1907 Restaurant,

Louise Boyse, Commercial and Business Director at Greengage said, “Brooklands Hotel has made a real effort to have sustainability at the heart of its business. Evidence of this can be seen across all five sections of their ECOsmart survey, such as zero waste to landfill and its ‘Make It Green’ linen reuse scheme. We look forward to working with Brooklands Hotel on its sustainability journey and are pleased to have them as part of our ECOsmart community.”

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We can help take the stress out of customs declarations for your goods ChamberCustoms is the customs training, advisory and brokerage service delivered through Surrey Chambers of Commerce and across the UK Chamber network. Our customs declaration service is for UK importers and exporters, of all sizes, in every region of the United Kingdom. With direct links to the HMRC Customs handling system and all inventory linked ports, we can guarantee that your goods, no matter where they enter or leave the UK, will be cleared for onward transportation smoothly.

We offer:

A high level of compliance and assurance for customers Confidence on tariff and data entry to remove fiscal risk; backed by the technical expertise of the market leader in this sector A wealth of international trade experience and expertise from across the trusted Chamber of Commerce network Contact the ChamberCustoms team at Surrey Chambers of Commerce now

customs@surrey-chambers.co.uk l 01483 735549 Helping traders to keep on trading

NEWS

UNIVERSITY OF SURREY LAUNCHES FUTURE OF WORK RESEARCH CENTRE How are artificial intelligence technologies transforming jobs and skills? How does hybrid working affect productivity, teamwork, and value creation? These are some of the critical questions explored by the University of Surrey’s new Future of Work Research Centre, which launched in May 2022.

“With so much uncertainty in our work environment, we’ll be looking at the critical questions facing the future workplace – from analysis of job quality and digital technologies through to the hopes and perils of hybrid working.

“Artificial intelligence, machine learning and robotics technologies are changing the nature of jobs, with The new Research Centre will focus on massive implications for training, skills, people management and job quality in and careers. Our new Future of Work a fast-changing working environment, Research Centre will draw on worldcharacterised by rapid technological advancements, economic developments, leading expertise across the University of Surrey, covering artificial intelligence, and societal value changes. These digital technology, and human resource changes have transformed the nature management, as well as working and organisation of work, as well as alongside industry and policy partners. conditions of employment.

Across our work, we’ll be looking to offer advice on how fairness and justice can Professor Ying Zhou, Director of the be secured in an increasingly diverse Future of Work Research Centre at the workforce.”

University of Surrey, said:

COMMUNITY ACTION DAY LETS THE CHILDREN PLAY Fourteen colleagues at industrial filter maker Amazon Filters have gone hands-on to help a Surrey primary school improve its playground.

Thanks to the team’s voluntary input, pupils at Sandringham Infant Academy in Frimley are now able to play on brighter, fresher equipment.

The initiative, a community action day brokered by charity the Community Matters Partnership Project (CMPP), included painting and improving play facilities such as climbing walls, decking, benches and fencing.

The school is just two miles from Amazon Filters’ head office and production centre at Albany Park in Camberley.

As a business partner of CMPP since November 2021, the manufacturer provides volunteering opportunities for its 220 Camberley-based staff working across a wide range of job disciplines, both factory and officefocused.

Ruth Pappadakis, Head of Human Resources at Amazon Filters, said: “Many of our employees live locally

Furthermore, the Research Centre is being established just as the UK Government launches its own Future of Work Review headed by MP Matt Warman.

The launch event featured Professor Glenn Parry, Head of the Department of Digital Economy, Entrepreneurship and Innovation; Professor Francis Green, Professor of Work and Education Economics at UCL Institute of Education; and Jonny Gifford, Senior Advisor for Organisational Behaviour at the Chartered Institute of Personnel and Development.

More details on the Future of Work Research Centre can be found at www.surrey.ac.uk/future-work

and are keen to give something back to the community.

“On this occasion it was a joy for so many colleagues to have the opportunity to roll up their sleeves and help a nearby school.

“We find that offering the chance of community volunteering encourages staff wellbeing, workplace values and company culture.

“At the same time, it means that together we strengthen our community connections and do our bit for worthwhile local projects.”

As well as community action days and school support, CMPP brokers corporate participation in environmental clean-ups and charity fundraising initiatives. www.amazonfilters.com

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BUSINESS

GETTING THE BEST FROM HYBRID WORKING The past two years have led to a new situation and new needs in the workspace: social distancing measures, protection of our health and a growing digital transformation.

Hybrid working (office and home) is both a trend and a reality. Traditional offices must evolve in a flexible, agile and smart way in order to attract talent, enhance creativity and get the most out of in-person work.

Every employer depends on having healthy and productive employees, and we know that valued and supported staff are far more likely to deliver the best outcomes.

Studies have linked employee happiness with their working environment and this, in turn, has helped generate fresh ideas for the workplace.

Dividing space into different working zones allows staff to work productively under the new hybrid working model.

WHAT CAN BE DONE TO OPTIMISE YOUR WORKPLACE?

■ Create working zones to allow people to work productively ■ Provide flexible areas for all styles of working ■ High and low furniture to give different ways in working ■ Bespoke wall coverings help convey what your company is all about.

■ Wallpaper and glass décor divides areas into distinct working zones ■ Touch down spaces to allow employees to work away from their desk This in turn will: ■ Bring people and teams together in a relaxed and inviting space

■ Enhance your team through collaborative working ■ Create an engaged and more inviting atmosphere for employees ■ Improve employee wellness and increase productivity ■ Promote talent At REDBOX Group we strive to understand how you work as this helps us to design spaces that improve productivity and collaborative efforts. As a certified B-Corporation, we choose to use our business as a force for social good and we have a passionate and caring team that reflects this. Contact us today to arrange a complimentary consultation.

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sales@redbox.co.uk 0203 328 6000 Redbox.co.uk

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SURRE Y CHAMBERS E VENT CALENDAR JULY ONWARDS….

BUSINESS BREAKFAST

MEMBERS NETWORKING EVENING

Tuesday July 12th | 08:00 – 10:00 Denbies Vineyard, Dorking Join us for our bi-monthly Business Breakfast and meet a range of local businesses over a delicious breakfast.

Hear from a guest speaker or be involved in a networking activity over a two-hour breakfast event to start your day off.

Don’t forget your business cards! Click here to book.

Thursday July 28th | 18:00 – 20:00 The County Club, Guildford Join us at The County Club for our Members Networking Evening for networking, welcome drinks, and canapés to catch-up on the happenings of the previous month’s business calendar.

This event is the perfect occasion for an informal, relaxed gathering with members you already know and the opportunity to make new business connections. Click here to book.

HAVE YOUR CAKE & EAT IT

MEMBERS NETWORKING EVENING

MOLE VALLEY

Thursday August 24th | 14:30 – 16:30 The Elvetham Hotel, Hook Surrey and Hampshire Chambers of Commerce invite you to Have Your Cake and Eat It! An afternoon tea networking session for businesses located on the Surrey and Hampshire border.

Join us for two hours of facilitated networking over tea, coffee, and a slice of cake as you network. You can expect a guest speaker or activity to break-up the afternoon.

Click here to book.

GUILDFORD

REIGATE

Thursday August 25th | 18:00 – 20:00 Reigate Manor, Reigate Join us at Reigate Manor for our Members Networking Evening for networking, welcome drinks, and canapés to catchup on the happenings of the previous month’s business calendar.

This event is the perfect occasion for an informal, relaxed gathering with members you already know and the opportunity to make new business connections. Click here to book.

BUSINESS BREAKFAST GUILDFORD

SURREY YOUNG PROFESSIONALS NETWORKING

Tuesday September 6th | 08:00 – 10:00 The County Club, Guildford Join us for our bi-monthly Business Breakfast and meet a range of local businesses over a delicious breakfast. Hear from a guest speaker or be involved in a networking activity over a two-hour breakfast to start your day off. Don’t forget your business cards!

Click here to book.

Thursday September 15th | 18:00 – 20:00 The Guildford Harbour Hotel Surrey Chambers of Commerce presents its Surrey Young Professionals Networking Evening. Whether you are new to the world of networking or simply wish to brush up on your networking skills, our Surrey Young Professionals Networking series is here to connect you with like-minded people, all over some delicious canapés and cocktails. Click here to book.

GROW YOUR BUSINESS SHOW

MEMBERS NETWORKING EVENING

Thursday September 22nd | 08:00 – 16:00 Epsom Downs Racecourse Surrey Chambers of Commerce is delighted to once again be exhibiting at the Grow Your Business Show on September 22nd.

The show is free for visitors and is dedicated to providing a professional, open and friendly platform for Start-ups, SMEs and large businesses looking to network, build relationships, gain knowledge and keep up to date with the latest products and services. Click here to book.

GUILDFORD

Thursday September 29th | 18:00 – 20:00 The Guildford Harbour Hotel Join us at Reigate Manor for our Members Networking Evening for networking, welcome drinks, and canapés to catch-up on the happenings of the previous month’s business calendar.

This event is the perfect occasion for an informal, relaxed gathering with members you already know and the opportunity to make new business connections. Click here to book.

EVENTS

Leading audit, tax and consulting firm, RSM UK has won two gold accolades at the Magic Circle Awards at a ceremony held on May 17th at the Carlton Tower Jumeirah Hotel in London

Double gold for RSM at Magic Circle Awards Head of private client services Gary Heynes, based at RSM Guildford, took home the gold award for Accountant of the Year, while RSM won gold for Large Accountancy Firm of the Year. The prestigious event has been celebrating the achievements of leading professionals from top tax, law and investment management firms for the past 16 years. The awards were hosted by comedian Emmanuel Sonubi and judged by an esteemed panel of wealth advisors from many market-leading firms.

❛❛

I am thrilled to have won this award and feel proud to be recognised for my accounting expertise. At RSM, we pride ourselves on supporting our clients with tax advice to help them navigate a rapidly changing environment and this award pays testament to our success Gary Heynes, partner and head of private client services, RSM UK

❜❜

Trusted business advisor is an oft-used phrase in our profession, but ❛❛ it is completely apt in the case of Gary Heynes. Gary is great at understanding what his clients want and then delivering relevant tax and commercial advice in a way that clients can both understand and apply.

He’s also a genuinely nice guy and a deserved winner of this award Ali Sapsford, head of tax at RSM UK

❜❜

www.rsmuk.com

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BUSINESS

25 YEARS OF MAKING LIFE WORK WITH MENTAL ILLNESS Guildford-based Oakleaf has been helping the community to manage its mental ill-health since 1995, and it is proud to announce that this year marks its 25th anniversary as a charity. Oakleaf became a registered charity on September 22nd 1997, having started with just 40 clients. It now supports over 800 people each year.

Oakleaf works with adults aged 16-67 who are struggling with their mental health. It delivers work-related training courses, which enable clients to gain qualifications and practical experience.

In addition, it provides employment support, one-to-one emotional support,

counselling services and a wide variety of wellbeing activities both online and in-person including confidence building, badminton, tai chi, watercolour art, football, youth groups, and much more.

Where Oakleaf differs from other mental health charities is that it also acts as a social enterprise, providing services and products to the public; the funds of which are fed straight back to the charity.

It’s no surprise that in a world where people’s jobs account for most of their time, our mental health affects our working lives just as our profession can

❛❛

“I had only just started with Oakleaf when the lockdown commenced, so as you can imagine it left me stranded and very isolated. I am doing a range of different courses through Oakleaf, and I am thankful for all their time, kindness, help and support. These classes have given me a reason to get out of bed and have provided me with a real drive and daily structure.”

John, Oakleaf client

❜❜

impact our mental health. There’s a lot of overlap between these two aspects of our lives.

For this reason, Oakleaf launched the Mental Health Leaders Network (MHLN) at the end of 2021, bringing together a wide variety of Surrey businesses committed to addressing workplace mental wellbeing. The network provides events, training and support around workplace, mental health for member businesses and their staff – and all membership fees go towards funding Oakleaf’s charitable activities.

“We are incredibly proud to be founding members of the Mental Health Leaders Network. Mental health is something that affects us all and it’s our duty, as business leaders, to make our team’s wellbeing a priority.” – Suzanne, Marketing Manager at projectfive Oakleaf’s Head of Partnerships and Engagement, Jen Clay has recently released a brand new podcast: ‘Oakleaf at Work: Exploring Mental Health in the Workplace’ where she speaks with guests from the MHLN as well as experts in the fi eld to discuss a wide range of topics within workplace mental health and wellbeing.

Oakleaf also continues to provide Mental Health First Aid training for businesses, an internationally recognised training course which teaches people to spot the symptoms of mental health issues, offer initial help and guide a person towards support.

www.oakleaf-enterprise.org

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BUSINESS

Challenging the perceptions of hospitality careers Giles Thomas of the Manor Collection wishes to change the public’s perceptions that the hospitality sector only offers limited opportunities Working within the hospitality industry has forever been associated with negativity. It’s seen within TV programmes and Hollywood films, in everyday news, and even through so-called advice from teachers and parents. The industry is synonymous with being a stepping stone to what many refer to as ‘a proper job’. And now, with the sector desperately trying to operate in a world of rising costs, it has never been more important to change this old-fashioned point of view.

that needs to change. For hotels, restaurants and bars to bounce back from the past two years, the word hospitality must no longer be linked with inferiority.

A recent survey commissioned by jobs site, caterer.com, found that 95% of adults aged between 18 and 24 would not pursue a career in hospitality. The reasons cited are that the industry doesn’t offer enough career progression, that the hours are long and stressful, the pay is poor and, incredibly, their parents want better for them.

Our industry is filled with exciting career opportunities that cover a huge array of individual interests and passions. We are a small group of independent hotels and yet we have people in human resources, learning and development, finance, sales, marketing, health and safety, maintenance, gardening and so much more.

Working in our industry offers the opportunity to be whoever you want to be. And we have so many success stories where this is the case.

How can anybody compete with that?

It’s clear that this is not an easy fix but rather a generational way of thinking

So what do we need to do? Well, for me, the first thing we must do is educate people in what hospitality actually means. We are, at the end of the day, here to make people smile. But that doesn’t simply mean we serve them their breakfast promptly or that their bedroom was cleaned thoroughly.

Take Daniel for example. Daniel joined us as a kitchen porter, but his eye for detail and his way with people made him perfect for our front-of-house team.

Now, Daniel works in our accounts department and, due to his passion for all things digital, also acts as our main in-house photographer.

So before you tell your children to ‘get a proper job’, consider what hospitality really means. As an industry we are so much more than the national perceptions. We are flexible and adaptable to your lifestyle and strive to offer a work/ life balance that suits you and what your life demands right now. We actively promote creativity from all our staff where ideas and methods of practice can be put in place by you. And, importantly, you are part of a real team; a family that supports and encourages each other in a way that you simply won’t find elsewhere.

Giles Thomas Operations Director, Manor Collection

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SURREY CHAMBERS OF COMMERCE

EXECUTIVE PARTNERS & PATRONS Surrey Chambers commerce Learn more about executiveof partner membership EXECUTIVE PARTNERS & PATRONS or L e apatronage r n m o r e a b o u t at e x e cwww.surrey-chambers.co.uk utive partner membership or patronage at www.surrey-chambers.co.uk

www.surrey-chambers.com

www.surrey-chambers.co.uk

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NEW MEMBERS

Surrey Chambers of Commerce welcomes its latest member companies When you join Surrey Chambers of Commerce, your company details automatically get listed on this page alongside fellow new members.

What a fantastic way to let the Surrey Business community know you are out there and ready to get those all-important connections.

NORTH FACE CONSULTING LIMITED 07974 779070 www.northfaceconsulting.co.uk

ELSTONE IT SERVICES LIMITED 08004 647987 www.elstone.net

SURREY COMMUNITY FOUNDATION 01483 478092 www.cfsurrey.org.uk

CHALLENGERS 01483 230060 www.disability-challengers.org

THE MARKETING MATRIX 02035 386588 www.themarketingmatrix.co.uk

THE LINKS CENTRE 2030 01372 376696 www.tlc2030.org.uk

BIGMORE BENEFITS 01932 253939 www.bigmorebenefits.com

BIZZCTRL 07770 343980 www.bizzctrl.com

BREATHEHR 01403 288700 www.breathehr.com

SJL CONSULTING 07912 690968 www.consultingsjl.com

All new Chamber members are entitled to a one-off 50% discount for a company profile within this magazine. Contact lesley@platinummediagroup.co.uk for more details

If you are looking to join Surrey Chambers, then please do get in touch: sarah.butcher@surrey-chambers.co.uk or call 01483 735540. We look forward to hearing from you!

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❛❛We see the Platinum Club as an important and integral part of our brand awareness strategy, through interactions with well-connected business people and other influencers. ❜❜ PETER COLLIER DIRECTOR, MATTIOLI WOODS PLC

The Platinum Club has been the region’s leading peer-to-peer business networking event for CEOs, Managing Directors and Partners of many of the leading companies across the South East for over 12 years.

Limited memberships are available and to apply, please contact maarten@platinummediagroup.co.uk ❛❛ Bubbles and canapés for atmosphere, friends that make it a club and new people at every event make it well worth returning – l have for over ten years!❜❜ BARRY CARDEN MANAGING DIRECTOR CARDENS ACCOUNTANTS

Fiona Mulliner (Martlets) and Peter Collier (BDM, Mattioli Woods Wealth Management)

Mardi Roberts (Director, Ridgeview Wine Estate), Donna Holland (CEO, Rockinghorse) and Lesley Alcock (Commercial Director, Platinum Media Group)

THE PLATINUM CLUB

Invest for your child’s future in the new tax year Saving and investing money on behalf of children or grandchildren could make a big difference to their future, helping them to pay for university or even put down a deposit on their first home.

With a new tax year upon us, there is no better time to ensure you’re investing as tax efficiently as possible for your children.

A simple and tax-efficient way to save money for children is to invest through a Junior ISA. If you begin early, your child or grandchild could have a substantial sum of money by the time they turn 18, giving them an important financial leg up as they enter adulthood.

Why invest for a child

How much to invest

Children today face a more uncertain financial future than they did in the past. University tuition fees in the UK have increased nine-fold since 1998 to up to £9,250 a year1, meaning many students face graduating with enormous levels of debt. Meanwhile, house prices have increased at a much faster pace than average wages, making it harder to get a foot onto the property ladder.

Investing for your child or grandchild offers them the chance to graduate free from debt, raise a deposit for their first home, or simply have a financial boost when they most need it.

How much you choose to invest will depend on a range of factors, including your financial circumstances, goals, and personal preferences. It’s important to ensure you don’t invest more than you can afford, and that you’re not neglecting other goals, such as building an emergency fund or saving for your retirement.

Cash versus investing

The table below gives an illustration of how much a monthly investment could potentially be worth after five, ten, 15 and 18 years. Remember, investments can fall as well as rise, and inflation can reduce the spending power of money over the long term.

There are lots of options when it comes to saving and investing money for children. Piggy banks and cash savings accounts are useful for teaching young children about money, as well as funding short-term goals like buying a new gadget or toy. But when it comes to longer-term goals, leaving money in cash probably isn’t the wisest decision.

The interest rates on cash savings accounts tend to be below the rate of inflation. This means that, over time, the ‘real’ value of your child’s savings will decline. If you left £100 in a piggy bank and inflation averaged 2.5% a year, its real value would fall to just £53.10 after 25 years.

Investing in the stock market offers the potential for greater long-term growth, helping your money to work harder for your child’s future. Although the stock market is volatile, history shows that over periods of ten or more years it tends to perform more strongly than cash and grow above the rate of inflation.

The benefits of a Junior ISA One of the best ways to invest for a child’s future is through a Junior ISA. You can invest up to £9,000 a year (tax year 2022/23) for each child, and you don’t pay capital gains tax on the profits (‘gains’) you make when selling investments. Reinvested interest and dividends are also tax free, making Junior ISAs a simple way of investing tax efficiently. Once your child turns 18, they can either access the money or continue investing through an adult Investment ISA. Although it’s possible to invest for children through your own ISA, opening a Junior ISA means you won’t use up any of your own £20,000 annual ISA allowance. You might also find it easier to manage your savings and investments if you can clearly see how much money belongs to each member of the family.

Number of years

£50 per month

£100 per month

£300 per month

5 years

£3,464

£6,929

£20,787

10 years

£7,846

£15,693

£47,079

15 years

£13,470

£26,940

£80,821

18 years

£17,583

£35,166

£105,497

Source: Brewin Dolphin. Assumes investment growth of 5% a year after charges and before inflation.

The key thing to remember is that the earlier you start, the better your chances are of boosting your child’s future financial security.

Not only will you be saving for a longer period, but you’ll also have longer to potentially benefit from investment growth and compound returns. Compounding is where you get a return on your returns as well as on your initial capital, and it is particularly powerful over long periods.

Next steps Understanding how much you can afford to save for children and where to invest it isn’t always straightforward. Taking some smart advice will help you feel confident that you’re balancing saving for children with your other needs, and that you’re on track to meet all your goals.

1

www.ucas.com/finance/undergraduate-tuition-fees-and-student-loans and commonslibrary.parliament.uk/research-briefings/cbp-8151/

www.brewin.co.uk/gatwick

Paul Cannons Senior Investment Manager paul.cannons@brewin.co.uk 01293 661323

Other family members can also contribute to your child’s Junior ISA, helping to build up an even more substantial sum of money.

The value of investments, and any income from them, can fall and you may get back less than you invested. Tax treatment depends on the individual circumstances of each client and may be subject to change in the future. 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.

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 BDM3902_2206_1

LEGAL

Nicola Billen

Abigail Maino

How can you protect your company’s confidential business information and assets when someone leaves?

By Nicola Billen and Abigail Maino

PROTECTING YOUR CONFIDENTIAL BUSINESS ASSETS Your business is unique and has a lot of confidential and highly sensitive information that is vital for its success.

Much of this will be held on central IT systems, accessible to employees whilst working for the company.

The information might include lists of customers, financial projections, price sensitive information, business plans and strategies, to name but a few. And whilst you are of course content for employees to make use of this data to further the business’ needs, you would not want them using it when they leave, whether for their own benefit or that of your competitors.

PROTECTING SENSITIVE INFORMATION WHEN AN EMPLOYEE LEAVES YOUR BUSINESS

So how can you make sure the information remains protected when someone leaves? And how can you stop a departing employee from taking and sharing it with their new employer so that they gain an advantage over you?

A key part of protection and prevention needs to happen right at the outset, when you take on someone new. You need to ensure that your employment contracts go far enough to protect your business, both during and after an individual’s employment.

There are terms implied into every employee’s contract. For example, there is the duty of fidelity to maintain mutual trust and confidence. But it is not enough to rely on these terms, nor to rely on ex-employees doing the right thing in order to safeguard your business. Employment contracts should contain specific terms known as ‘restrictive covenants’, or ‘post-termination restrictions’, to help protect you when someone leaves for a specified period of time.

Common terms include: 1. Non solicitation – so the employee cannot poach your customers and clients.

2. Non-compete – which restricts the employee from working for a competitor within a specified geographical area.

3. Non dealing – the employee cannot deal with your customers and clients, regardless of who approaches whom.

4. Non poaching – the employee cannot poach your other employees.

In addition to these restrictive covenants, there should also be general confidentiality clauses, which make it clear what information is confidential; the use of which must be restricted while setting out the consequences of any misuse of confidential data.

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LEGAL

If and when a problem does arise with an employee who has departed or is about to depart, it is imperative to seek legal advice immediately so that the business gets help with securing and preserving data and advice on what to specifically look for. This is a very specialised area of law, so seeking advice from a knowledgeable legal team will mean that the business is in a position of strength should action be required.

FORENSIC READINESS PLANNING

As a first step you should look at your ❛❛ standard contracts of employment in order

to ensure they contain the right provisions ❜❜ CONTRACTS OF EMPLOYMENT

As with everything, prevention is better than cure, so as a first step you should look at your standard contracts of employment in order to ensure they contain the right provisions, and that any restrictions on the employee are reasonable and can be justified insofar as they protect your legitimate business interests. There is no ‘one size fits all’ and reasonableness is judged at the time the contract is entered into with that particular employee.

It is a risky business putting contracts in place without properly considering what you are seeking to protect and how far you need to go in order to do so. You, as the employer, not only need to be able to rely on properly drafted provisions, you also need to be able to justify any restrictive covenants in the event of a dispute arising. This is because if a court considers a clause is unreasonable (in scope and/or length), it is likely to strike it out of the contract, potentially leaving the business without adequate protection or grounds to pursue someone.

In addition to the contract of employment, the business also needs to make sure that it knows who is accessing its confidential and sensitive information.

Having audit logs in place which record sufficiently detailed data of what your employees are accessing, through what means and when, will help should a situation arise. Given that this data could be subject to challenge if a dispute arises, you need to make sure that it is secured and properly and legitimately monitored at all stages.

DMH Stallard, in conjunction with First Response, will be hosting an event in September addressing these issues.

To register your interest or if you are interested in finding out more about protecting your companies information assets please e-mail enquiries@DMHStallard.com

It is critical not to let your IT team go in to ‘have a quick look’ unless they have forensic training and know what they are doing. Evidence spoliation is of real concern in these situations, so when in doubt take copies from any devices and accounts in question. Ideally, use a third party to advise, so that the steps can be carried out ‘at arms length’. This is all part of forensic readiness planning which all businesses should consider as part of their wider Incident Response Framework and general risk management.

If the business takes the necessary steps from the start, the legal team will have all of the necessary information and knowledge to write to the employee and future employer setting out your rights to help negotiate a successful outcome. Not only will this save you time and money, it will also ensure that what makes you you, remains firmly under your control.

DMH Stallard is known for their expertise, approachability and for always adopting a commercial and pragmatic approach.

Nicola Billen is a Partner in our Dispute Resolution and Litigation Team.

Abigail Maino is a Partner in our Employment Team

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EVENT

INVEST IN YOUNG SURREY At the recent ‘Invest in Surrey 40 under 40’ Business Awards, Surrey Research Park tenants took home almost a quarter of the total haul of awards A positive spotlight was shone on the dynamic young talent making a difference in Surrey at the inaugural ‘Invest in Surrey 40 under 40’ Business Awards.

The Awards night also officially launched Surrey County Council’s new business-focused brand, Invest in Surrey, which works to provide a wealth of resources to businesses starting, growing and moving to the Surrey region. The team, led by Daniel Murray, is focused on supporting businesses to help them to thrive in the county which is recognised as ranking highest in the UK (outside London) for professional workforce.

The Surrey 40 Under 40 Business Awards is the first of its kind in the region, with the goal of celebrating the incredible talent that is present locally.

Entrepreneurs and young professionals in established businesses have a key role to play when it comes to maintaining Surrey’s unique high value position in the UK economy, and the awards were designed to celebrate and recognise the county’s movers and shakers who are already making a difference.

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Surrey Research Park had good reason to be proud as almost a quarter of the winners at the inaugural awards are part of Surrey Research Park’s innovation ecosystem. The awards were a celebration of the outstanding talent in the region and shone a light on the Park’s unique innovation ecosystem.

Grant Bourhill, Chief Executive Officer, commented: “This level of award wins within a couple of square miles at Surrey Research Park is phenomenal.

Congratulations to all of our winners at Surrey Research Park. We are thrilled to be suppor ting a communit y of successful entrepreneurs and business leaders, and it is a great opportunity to

celebrate our up-and-coming young talent.”

Over 100 nominations were received from a wide variety of sectors. Winners were announced by established business leaders based in Surrey including Tamas Csejtei, People Team Director at Samsung; Damion Potter, Head of Global Policy and Government Engagement at Haleon Consumer Health; Caroline Fleming, Director of Innovation Strategy from the University of Surrey and Louise Bittleston, Corporate and Community Fundraising Manager at WWF UK. The awards were held at the county council’s landmark headquarters in Reigate. Surrey County Council is recognised nationally for its pro-business approach to economic growth, with Surrey generating an annual output of over £43 billion to the UK economy thanks to world-leading academic and corporate Research and Development, being home to some of the UK’s leading businesses, offering excellent connectivity to London and the rest of the world, a highly skilled workforce and a superb quality of life.

EVENT

Almost a quarter ❛❛ of the winners at the

inaugural awards are part of Surrey Research Park’s innovation ecosystem ❜❜

CONGRATULATIONS TO ALL THE SURREY RESEARCH PARK WINNERS

Tim Oliver, Leader of Surrey County Council, commented, “What is key for Surrey is inward investment. Surrey has a thriving economy, but it needs to continually renew and refresh itself. It’s important to continue to attract cutting edge businesses that are innovating, improving services and delivering new ideas. Surrey businesses have a very good, long history of doing exactly that and it’s great to see the next generation of entrepreneurs building on that heritage”

n T OM BOULTON Lead Engineer Surrey Satellite Technology n M ILO BYGRAVE Lead Designer 22Cans n C OLIN FRANCIS CEO LabCycle n C HRIS JAMES CTO Gold-i n N EIL JOHNSTON CEO and Founder Vector Suite and Rocketdesk n A MIR TABA CTO DIREK LTD n D R ANNA VARTAPETIANCE CEO, Co-Founder and Director Securium n C HARLOTTE WATSON Operations & Relationship Manager SETsquared Surrey n B EN WARD Business Owner Rocketdesk and Supergonk

Invest in Surrey builds on and promotes this strong energetic, youthful, entrepreneurial spirit and other key strengths of the Surrey economy, to attract business to the county – and more likeminded people!

www.surrey-research-park.com

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BIG STORY

As the political unrest at the top of the Conservative party continues to regurgitate on a daily basis, and the rankand-file Parliamentary party are clearly unhappy with the skipper, spare a thought for Sir Graham Brady, chair of the 1922 Committee.

He has had to arbitrate over in-house fighting, a far-fromcomprehensive support for the leader, and two votes of no-confidence in the Prime Minister. Given that that has only ever happened in history once before, then his role as ‘teacher’ of the governmental Bash Street Kids offers up some sympathy from outside. By Alan Wares

THE BRADY BUNCH Graham Stuart Brady was born on May 20th 1967 in Salford, Lancashire (now Greater Manchester). He graduated from Durham University, having read Law, in 1989. While there, he served as Chairman of the Durham University Conservative Association for a year.

After eight years working in the private sector, Brady was elected Conservative MP for Altrincham and Sale West in 1997, at the age of 29. This was Labour’s landslide election victory, and although this constituency is one of the safest Conservative seats in the country, Brady’s majority was just over 1,500. In the six subsequent General Elections, he has comfortably held on to his seat.

From 1999 to 2003, Brady served on the Employment and Education Select Committee, under the leadership of both William Hague and Michael Howard. He was also made Opposition spokesperson on that subject.

30

BIG STORY Brady’s promotions to junior minister and PPS (Parliamentar y Private Secretary), continued until 2007, when he opposed his leader David Cameron’s opposition to grammar schools, and resigned from Shadow Government to return to the backbenches.

His role as ‘teacher’ ❛❛ of the governmental

Bash Street Kids offers up some sympathy from outside ❜❜

He joined the 18-member Executive of the 1922 Committee in 1998, resigning in 2000, and re-joining in 2007, and made Chair in 2010. It is a post he has retained in perpetuity with the exception of a short period when, in May 2019, he resigned in order to consider launching a bid to become leader of the Conservative Party.

He ultimately decided not to run for Leader, and he returned to the Committee to serve as its acting Chairman until a new executive was elected in the next session of Parliament.

Considered to be a very safe pair of hands in the role, he was subsequently re-elected as the permanent Chair in January 2020.

He was knighted in 2018 for ‘Political and Public Service.’

PERSONAL POLITICS

Brady was highly active in politics as a student. He served as Chairman of the Durham University Conser vative Association. He served additionally as Chairman of Northern Area Conservative Students (1987–89) and as a member of the Conservative Party’s National Union Executive Committee (1988–89).

Brady has never held a Government role – only Shadow Government roles from 1998 to 2007, and the Chair of several select committees within Portcullis House.

In 1998, he was one of a very small number of Conservative MPs who voted in favour of an equal age of consent.

Conversely, in 2013, he voted against David Cameron’s Bill to allow same-sex marriages, citing that it had not been in the party’s 2010 manifesto, and that it may upset religious groups.

In 2016, he was a supporter of Brexit in the EU Referendum.

In January 2019, the House of Commons voted to approve Brady’s amendment to the Brexit Next Steps motion, which called for “the Northern Ireland backstop to be replaced with alternative arrangements to avoid a hard border, supports leaving the European Union with a deal, and would therefore support the Withdrawal Agreement subject to this change.”

In May 2020, Brady called for the removal of ‘arbitrary rules and limitations on freedom’ brought in by the government because of the Covid-19 pandemic.

Despite professional medical advice, he still felt that the British public had been “a little too willing to stay at home.”

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PARTY LEADERSHIP ELECTIONS

The Conservative Party can be quite brutal when it comes ousting its leader.

Aside from leadership resignations, usually after a General Election defeat, or through ill-health or death, Labour have only had one mid-term political challenge to the leadership since 1961 (and a failed one at that).

In the same period, the Conservatives have brought about five mid-term leadership challenges - including two while the leader was Prime Minister - not all of which have succeeded.

Considered to be a very safe pair of hands ❛❛ in the role, he was subsequently re-elected as the permanent Chair in January 2020 ❜❜ He was against a second lockdown, citing increased mental health issues, including the risk of increased suicides and domestic abuse, as well as excess deaths due to reduced access for care.

Brady is also a steering committee member of the lockdown-sceptic ‘Covid Recover y Group’ - a group of Conservative MPs who opposed the government’s second lockdown in December 2020. They were criticised as an ‘echo’ of the European Research Group (ERG) of MPs, and a response by backbench Conservatives to Nigel Farage’s anti - lockdown Reform UK party.

In the end, the leader of his party enacted the illegal breaking of lockdown rules anyway.

Brady is patron of the Counselling and Family Centre in Altrincham, and a trustee of the Jubilee Community Centre in Bowdon, Greater Manchester. He is a keen supporter of Stockdales, a charity supporting children and adults with learning disabilities in Manchester.

to have paid his son, a student at the time, using public funds despite little evidence of his having done the work he was supposed to.

With that in mind, Sir Graham Brady employs his wife Victoria, whom he married in 1992, as his senior parliamentary assistant, with one of the highest reported salaries for that role.

As a piece of tittle-tattle, it raises eyebrows, but the fact is, arbitrary accusations of nepotism have little merit, especially if the family employee in question is highly competent in their role. Every instance must be taken on a case-by-case basis - as per the issue with Derek Conway 15 years ago - but any thoughts of banning family members from the role on principle, is akin throwing the baby out with the bathwater.

FAMILY ROLE IN WESTMINSTER

Following the Daily Telegraph’s extraordinary 2009 exposé into MPs’ expenses claims, attention was drawn to whether it was appropriate for MPs to employ members of their family within Westminster.

This was highlighted when Conservative MP Derek Conway was alleged in 2007

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Sir Graham Brady and wife Victoria

The 1922 Committee has an 18-member executive committee which, led by Sir Graham Brady, oversees the election of party leaders, or any Conservative party-led vote of confidence in a current leader. Such a vote can be triggered by 15% of Conservative MPs (currently 54 MPs out of the 360 sitting MPs) writing a letter to the chairman asking for such a vote.

In the near century-long history of the 1922 Committee, the Chair has had to oversee three votes of no-confidence (as opposed to direct leadership elections) in the Tory party leader. Two of them have fallen on Sir Graham’s watch.

Although Theresa May won her 2019 vote of confidence - triggered by dissatisfaction among Conser vative Associations, rather than MPs - it was too small a margin for her to be seen to be an effective leader, and she resigned one month after the vote.

This process was used most recently on June 6th 202 2, against Boris Johnson. Interestingly, although he won his vote of confidence, it was by a smaller percentage margin, yet he shows no signs of handing over the reins. The last time a leader lost such a vote was on October 29th 2003, when Iain Duncan Smith was defeated by 90 to 75.

This is different from previous attempted coups. Under former party rules, the Conservatives could have a party leadership election every year. This little-know rule was used by Sir Anthony Meyer in 1989, He did not expect to win; merely to put numbers on the dissatisfaction among backbench Tory MPs. The incumbent Margaret Thatcher won comfortably.

However, another leadership election was held in November 1990.

BIG STORY 1922 COMMITTEE Although Thatcher won again, like Theresa May 29 years later, it was not seen as enough to win the confidence of the Parliamentary party. She withdrew from the election in the second round, bringing to an end 11 years of her leadership of the country, and 15 years of her party.

John Major unilaterally resigned in 1995, fed up of all the petty bickering in his government party, and immediately re-stood in a ‘back me or sack me’ ballot.

Again, only Conservative MPs could elect the leader in those days, and Major comfortably won his own vote of confidence. He resigned as leader two years later after heavy General Election defeat.

All of these procedures fall, or have fallen, under the remit of the Chairman (and so far, only men have had the permanent role) of the 1922 Committee.

Since 2010, that has been the responsibility of Sir Graham Brady.

The Chair has had ❛❛ to oversee three votes

of no-confidence in the Tory party leader.

Two of them have fallen on Sir Graham’s watch ❜❜

The 1922 Committee - or the ‘Conservative Private Members’ Committee’ to give it its formal name – is a parliamentary group of Conservative MPs in the House of Commons. It was formed in 1923 by the MPs who were elected in 1922. (It is named after the intake year, rather than the formation year).

The committee is made up of all Conservative backbench MPs, and meets weekly while Parliament is in session.

It provides a way for backbenchers to co-ordinate and discuss their views independently of frontbenchers (i.e. government or shadow government ministers). However, since 2010, frontbench Conservative MPs have had an open invitation to attend meetings. The committee can also play an important role in choosing the party leader.

The phrases ‘men in suits’ or ‘men in grey suits’, meaning a delegation of Conservative MPs asked to address the leader, is a jocular reference to the 1922 Committee.

BACKBENCH ONLY

In 2010, the Conservatives formed a coalition government with the Nick Clegg-led Liberal Democrats. Prime Minister, and Conservative party leader, David Cameron, suggested changes to the committee rules to allow frontbench Tory MPs to be involved in the recommendation-forming process. This upset some backbench MPs, who saw - not unreasonably - that the 1922 Committee was for them, and not frontbenchers.

Ministers argued that such a change would be necessary for the Parliamentary party to function coherently, especially as it was in a coalition partnership.

Despite the concern, committee members voted to approve the change, 168-118. However, under the deft, diplomatic skill of Graham Brady, newly arrived in his role as chairman of the committee, he clarified shortly after that vote that although frontbenchers were able to attend meetings of the committee, only backbenchers would be able to vote for its officers and executive committee.

FUTURE CONFIDENCE VOTES

Current Conservative party rules don’t allow for another vote of confidence in the leader for at least a year to the day after the previous vote. There are some in the party who wish to change that rule, though Sir Graham Brady himself has no intention of entertaining that change.

However, with further domestic and transport fuel prices hikes due in the Autumn, the cost of living rises showing no signs of abating, and an inherent disinterest to properly assist the worst off in society from the top of government, Sir Graham may well be busy next summer with worried Conservative MPs concerned over losing their seats in the House of Commons.

Groundhog Day, anyone?

33

BUSINESS For over 40 years, Small Self-Administered Schemes (SSAS) have been used by business owners to provide control over their pension fund and simultaneously assist in the development of their business. They have the potential of being one of the most tax-efficient vehicles available in family wealth planning

FAMILY BUSINESS PENSIONS – ARE YOU MISSING OUT? There is increasing complexity in financial life and sometimes your need for expert advice may not be immediately obvious. Julie Sebastianelli looks at a real client situation (suitably redacted) which started with a small pension query and ended somewhere completely different!

A few years ago, an accountant asked me to help the patriarch of a family business (let us call him Philip) with what seemed a straightforward pension matter. In my experience, pensions might be simple to understand but expert advice is often needed, and sometimes before it is too late.

In this case, the advice required related to a pension scheme nomination. Like a Will, a nomination specifies who the member would like to receive any unused pension on their death. But it is not exactly like a Will as the pension usually falls outside of the estate and the rules for pensions are different.

Philip had been married twice and had two adult children (step siblings) who did not get on, while his second wife was on poor terms with Philip’s eldest child (from his first marriage).

In our world, one ❛❛ size does not fit all.

Your financial requirements and objectives are as unique as you are ❜❜ 34

BUSINESS TAKE CARE WITH PENSION FUND NOMINATIONS

At the initial meeting, two important matters arose. The first was that Philip had an old nomination and had determined his second wife should receive the whole of his pension on his death to meet her income needs, a sum in excess of £2m. On her death, the remaining pension would be shared equally between his children.

Second, the pension was a SSAS that he set up many decades ago. The members, who were also Trustees of the scheme, were Philip and his two children, both of whom worked in the family business.

Each had funds in excess of £2m as well as enhanced lifetime allowance protection. The main scheme asset was the land and buildings the business had traded from for a decade. This was leased to the company; a typical and often very effective way to hold commercial business premises for these member-controlled schemes.

COMMERCIAL PROPERTY INVESTMENT IN A SSAS

My colleague, Jerry Rixon, joined me for this initial meeting. Jerry has nearly 40 years’ experience as a Trustee of SSAS and extensive practical knowle d g e of c o m m e rc ial p ro p e r t y investments in these schemes. Philip disclosed that developers were talking about plans for the site which had a book value of around £3m. The family disagreed over what to do partly because the family business had been in existence for over 50 years, and partly because the younger sibling was a long way off being able to access her pension (currently age 55 is the threshold). She argued that even if the land could be sold at a substantial gain, she would not be able to draw on this for at least 15 years. Put simply, she couldn’t allow her stepbrother to see his value immediately if she couldn’t obtain hers – and Trustee decisions have to be unanimous. Philip was struggling with the disagreements and was not getting the advice he wanted or needed.

Going back to the pension nominations, if Philip left his share of the pension to his wife (on his death) it would become her designated fund alone to decide on in future. She would be under no obligation to leave (on her death) any of her undrawn share of this fund to Philip’s eldest son and, in all likelihood, would leave everything to her own daughter –

IS THIS YOU?

n A director/shareholder of a family business? n You already have a SSAS but no one is talking to you about the planning possibilities? n You have a SIPP and you are a director/shareholder of a family business? n You are thinking of selling your business and you want to make the most of this opportunity with your pension fund?

WHY CONSIDER A SSAS?

n Control of all aspects of running the scheme (subject to HMRC regulations); n Company contributions are tax allowable; n Investments grow tax-free and with no CGT; n Pooling investments with your family or co-directors; n Commercial property that can be leased back to your business; n Making a loan to your business subject to rules; n Flexible retirement benefits; n Ability to cascade the fund down to your family and free of IHT; n Can often be more cost-effective than multiple SIPPs. Mattioli Woods both advises on and administers SSASs and SIPPs in the South East and throughout the UK and Northern Ireland. the younger sibling. This was not Philip’s intention and I advised on changing the pension scheme nominations to reflect his desired outcome as far as possible, and particularly in view of the potential increase in fund size, due to the rising property valuation. Philip took my advice and at the same time the Trustees agreed to appoint us to administer and advise on the SSAS and the potential sale of the property. The brief was to create a commercial outcome that would satisfy all parties: the three members of the SSAS, the pension scheme itself and the company.

THERE’S NOTHING WITHOUT TRUST

This was no easy or quick task. Indeed, we have to fast forward over two years before an acceptable solution was agreed and finalised. Jerry was at the centre of a three-ringed circus that

involved the SSAS, the company and the individual members. Additional advisers were appointed to act where appropriate and alongside this, a bidding process was initiated and managed, resulting in the eventual sale of the land for over £14m. A creative and commercial solution was negotiated by Jerry that satisfied all parties. It showed that building trust within a fractured family takes time and patience as well as expertise.

This ‘simple pension query’ raised family concerns of extraordinary proportions. The skills required to gradually build bridges and mutual understanding were those of technical expertise, patience, and tact. There is no off-the-shelf quick fix. In our world, one size does not fit all. Your financial requirements and objectives are as unique as you are.

Julie Sebastianelli, Wealth Management Director at Mattioli Woods Julie.sebastianelli@mattioliwoods.com 020 8936 3970 Please visit their website, mattioliwoods.com for further information.

Mattioli Woods plc is authorised and regulated by the Financial Conduct Authority.

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LEGAL Pam Loch, solicitor and managing director of employment law specialists Loch Associates Group, discusses how managers can best motivate, supervise and manage staff within a hybrid working regime

Working 9 til 5 – no longer the way to make a living?

Who would have thought five years ago that we would be discussing the demise of the traditional working day? However, here we are with 36% of employees reportedly working from home at least once in the last seven days.

With Covid still doing the rounds, rising fuel costs and potential strikes hitting commuters, this percentage is likely to increase with more staff working from home to avoid the increasing costs and the challenges of travelling to work.

There are, however, negative aspects to working at home which we are increasingly encountering with our clients seeking help to find a way forward.

Most notably is the rising number of remote workers who are being signed off sick due to mental ill health. So how do you manage your teams effectively when the standard working day and working week looks like it has gone for good?

CHANGING PRACTICES

Looking back at 2019, the percentage of employees working from home was just 4.7%. This rose to 43.1% during the pandemic. The latest statistics suggest that working full-time in an office environment is unlikely to ever return. Some of the UK’s biggest employers, including BP, Nationwide and British Airways,

have confirmed that they have no plans to require staff to return to work fulltime in an office for the foreseeable future.

It’s not just remote working that has been a game changer, though. More employers are offering unlimited holidays and compressed working hours as different ways to address mental ill health concerns. Goldman Sachs recently announced its senior staff would be able to take unlimited holidays, subject to a minimum number being taken, as a way to try to address that concern.

However, they have taken the view that staff should not be working remotely, as they recognise the negative impact of not being together in the workplace with less collaboration and learning opportunities being available. The concerns around mental ill health appear to apply across the board, and managers do need to be trained to know how to engage with their team in the office or at home to address those concerns.

Inherently most managers do engage better on a face-to-face basis, and remote or hybrid working brings its own set of challenges; including, motivation and supervision, knowledge sharing and team building.

❛❛ Managers essentially have to revisit the way they have operated to create a cohesive team ❜❜ 36

TIME FOR A SUPERVISION RE-THINK?

Employers will need to rethink how they motivate their staff. The absence of supervision can lead to employees becoming easily distracted by family, deliveries or other factors found within the home. Critically it can also lead to the increased risk of costly mistakes.

Isolation from the team can also weaken communication channels. The all-important ‘corridor conversations’ and “cooler chats” don’t take place which is likely to lead to the team culture being adversely af fected. More worrying we are seeing the creation of division and a two-tier workforce - with “homeworking shaming” taking place.

LEGAL WHAT CAN YOU DO?

As an employer and specialists advising clients on employment law, at Loch Associates we recommend prevention is much better than the cure. Here are a few ideas to consider to help maintain a high level of employee wellbeing, engagement and productivity.

1

Is remote working right for the worker in the first place? Many people think they work as effectively at home as they do at work but are they correct? It may be the case they are not suited to it in the long term and so there could be a problem in the making with their mental health.

We have been carrying out remote working psychometric tests with staff who not only start working remotely but for those who have been working remotely. It’s an objective way to assess suitability but also enables managers to know where they may need to target their attention when working with the employee.

2

Have you got the right policies and procedures in place? Having the right policies and procedures in place will help managers manage more easily while protecting your business and employees. Ensuring staff are aware of expectations, and the disciplinary or performance steps that may be taken if these are not met, is important. It also could include the ability to work remotely being relinquished.

3 Managers essentially have to revisit the way they have operated to create a cohesive team where the days and hours being worked are significantly different from what it was like in the past. That’s not to say that we all worked ‘9 til 5’ in the past, and parttime workers did feel left out which is why the Part Time Workers Regulations were introduced in 1999.

However, no-one wants to end up in an Employment Tribunal with an employee feeling unfairly treated. Aside from the cost involved, there’s the loss of valued staff who are difficult to replace that you don’t want to be facing either.

Consistent communication and authentic conversations - These are some of the most important steps you can take to protect your employee’s wellbeing. Weekly one-to-one checkins create a sense of accountability which will increase productivity, and it allows a set time for employees to discuss any issues they may have.

It’s important to engage at a social level too which is more challenging remotely.

4

Is their home safe? Checking the home working environment is safe is not only a legal obligation but also essential to look after your staff’s wellbeing. If you have not carried out a health and safety assessment for remote working, then now is the time to do that. It’s important to consider not just the physical safety but also how isolated the person could feel, and ensure steps are taken to address that risk assessment too.

5

Knowing when to seek professional support – managing remote working and the challenges around mental ill health can feel daunting, and employment law is a minefield. It’s that you not only seek specialist support when you need it but that you encourage your managers to seek help too. Training your managers on mental health is essential but also on how to hold meetings and manage staff remotely remain critical.

Getting it right could mean that the death of the ‘9 til 5’ regime is a positive outcome. Research suggests that remote working actually encourages employee retention. With 47% of UK employees saying they would rather quit than return to office work, it’s something that employers need to keep in mind.

Being flexible in how you approach working with employees removes push factors that would have forced employees to resign in the past, for example, when relocating. Similarly, remote working gives employers access to a broader talent pool when recruiting.

With the continuing challenges in recruiting good staff it’s time to revisit how we approach the working day.

Pam Loch, Loch Associates Group Employment & Business Law, HR Consultancy, Wellbeing and Mediation https://lochassociates.co.uk

37

BUSINESS

ROSCOMAC PRECISION CNC MACHINING Huge investment in technology and solar takes UK manufacturing to a new level Founded in 1976 by Fernando Martello, Roscomac grew from a small factory, to occupying 19 units and now resides on a two-acre site in Worthing. With Fernando’s son, Joseph Martello being at the helm for the last 23 years, the business has strengthened its core activity in machining, producing complex components for blue chip clients world-wide in many key sectors including aerospace, defence, medical and transport.

Following a £4m+ investment over the past four years, Roscomac now produces over a million parts every year from aluminium, steel, brass, and many other materials and have established themselves as the ‘go to’ manufacturer for OEMs.

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TECHNOLOGY AND POWER CONSUMPTION IS EVOLVING

More businesses are recognising the importance of the environmental impact of their products, making the selection of business partners not just about focusing on quality and price, but how ‘green’ they can be in the process of servicing their customers.

In 2018/19, Roscomac started its shift into serious automation and site upgrades to reduce its environmental footprint. A new roof with 700 solar panels were installed, lights were

❛❛ It has always been the directors’ philosophy to invest ❜❜

changed to LED, and 95% gas heating replaced with more efficient equipment, saving the business 12% of its power usage.

The second phase is about to begin with a further 700 solar panels being installed which will generate 25% of the businesses’ power usage while removing dependency on the national grid.

Planning or just good timing? The directors at Roscomac had the foresight to see the need to reduce both their energy footprint and reliance on ever-increasing energy costs. Almost every square metre of roof space is now being utilised.

The installation of EV chargers for both staff and visitors who have gone ‘green’ is another small example of the many changes Roscomac have made.

Sustainability and environmental impact are no longer a tick box exercise, they are real and being addressed at Roscomac at every level and in every department.

BUSINESS

BAPTISM BY FIRE

❛❛ Sustainability and

D ur ing th e pand e mic , o n e of Roscomac’s key customers, BD who manufactures Alaris Infusion pumps used in hospitals world-wide, increased its demand fivefold. The challenge was getting these critical components manufactured so pumps were delivered where they were needed most during lockdown, essential to saving lives.

At the time, Roscomac had just started its investment for an aerospace customer. Almost overnight the aerospace demand was switched off and the focus was immediately switched to start using this new equipment to support the critical demands of the medical sector. 20 machines were replaced by ten new five-axis CNCs (computer numerical control) with the ability to run unmanned for up to 14 hours at a time using robots. Starting with just one machine in late 2018, by 2021 nine more followed.

A bonus was that the new machines achieved increased output whilst using less electricity and taking up a smaller footprint. A recent planning application to extend the building was no longer needed as Roscomac had freed up 25% of the existing floor space.

It has always been the directors’ philosophy to invest, recognising that by doing so they would also attract the best talent in the market and new customers

environmental impact are no longer a tick box exercise ❜❜ globe, Roscomac was only one of a handful that was awarded. This was a testament not only to the technology employed but the Roscomac team’s accomplishment.

who could appreciate advantages of the automation and investment.

The pandemic accelerated what would likely have been a drawn-out period of trials taking many years resulting in the transition being completed in a fraction of the time.

As a critical manufacturer, having mitigated risk whilst still ensuring quality was not compromised, Roscomac was recognised in 2021 by the presentation of an award for its efforts by its main medical customer. Out of tens of thousands of suppliers around the

It has always been thought that banks would be there when you don’t need them, and can be shy when needed the most. Fortunately, the bold moves Roscomac took to steer the business, almost overnight, were supported by NatWest and other asset financiers.

The savings, long-term opportunities and overall prospects, were predicted and have since been proven to be selffunding.

Roscomac continues to seek all opportunities to reduce its footprint and enhance sustainability as a business.

www.roscomac.com

39

EVENT

On June 16th, a charity event entitled Speedee Boarding took place at Hove Lagoon

SPEEDEE BOARDING Mayhem was on the cards as 30 Sussex companies took to paddle boards, many for the first time, in a relay race. The event was organised by serial charity fundraiser, Neil Laughton from Laughton & Co who had just returned from a paddle boarding trip along the Amazon. Platinum Media group took part and won the first heat – sadly, that was as good as it got!

Along with many others, they helped

40

to raise money for their selected charity. In Platinum’s case, this was Rockinghorse Children Charity.

Each team selected their own charity and a total of £12,000 was raised – and a great day was had by all. Hats off to Neil Laughton who donated an enormous amount of time to this event, along with many other such events each year.

EVENT

THE RESULTS CHAMPIONS SPEEDEE BOARDING TROPHY:

Sussex Cancer Fund

WINNERS SPEEDEE BOARDING PLATE COMPETITION:

Focus Group

BEST SPEEDEE BOARDING COMPETITOR:

Andrew Jones (Chailey Heritage Foundation)

WINNER SPEEDEE BOARDING DEMOLITION DERBY:

Morgan Andrews

THE BENEFICIAL CHARITIES:

Project Eileen £1,000 (Warren House & Brighton Girls School) Focus Foundation £1,000 (Focus Group) Chailey Heritage Foundation £500 (Achelous Energy) Young Minds £500 (Flexy/Pivotal Group) Rockinghorse £500 (Platinum Media Group) Off the Fence £500 (Sutton Winson) Integrated Neurological £500 (Sutton Winson) Burgess Hill Food Bank £500 (Sutton Winson) Martlet’s £500 (Silver Star Cleaning) Heads On £500 (Mayo Wynne Baxter) Chestnut Tree House £500 (Oakley Properties) St Wilfred’s Hospice £500 (Whitebox UK) Sands £500 (Acumen Business Law) Sussex Nightstop £500 (Jaspar Group) Bevern Trust £500 (Jaspar Group) Hope Charity Project £500 (Jaspar Group) Somerset Centre £500 (Brighton CCTV) Renewable World £500 (E3 Events) Sussex Cancer Fund £500 (FRP Advisory) Sussex Aid for Refugees £500 (Cardens) WOLO £500 (Dotsquares) The Charley Ashton Foundation £500 (Sopro)

Such was the success of the day that it is now to become an annual event with next year’s event taking place on Sussex day, June 16th 2023. Companies are encouraged to enter now by contacting neil@neillaughton.com.

Places are limited to 40 companies.

41

FINANCE

With the price of crypto assets falling this year amidst the backdrop of the war in Ukraine and interest rate hikes, many investors in the digital asset market will now be sitting on significant losses.

By Paul Webster, Private Client Tax Director at Kreston Reeves

Banking crypto investment losses with tax authorities Those hardest hit will the ones that entered the markets in late 2021 at the height of the bull run, and now find themselves underwater. Once a bear market sets in, it is inevitable that some cryptocurrency projects will not survive, leaving new investors licking their wounds. Some will panic and sell at a loss, whilst others will hold until there is virtually no value remaining.

According to a survey in the US, 43% of males in the 18 to 29 age group have had some exposure to cryptocurrency investing. In the UK, the numbers are likely to be weighted more towards the younger generation. Whilst they may be astute when it comes to investing in this new asset class, many will have limited experience of tax rules, having never been required to complete a Tax Return, let alone make a loss relief claim.

Many of the discussions centre around gains in crypto, but what can an investor do if they have made a loss?

❛❛ The acquisition and disposal

of crypto assets is generally subject to the Capital Gains Tax rules in the UK ❜❜ 42

Firstly, the acquisition and disposal of crypto assets is generally subject to the Capital Gains Tax rules here in the UK, unless the trading volume is so significant that it warrants being a trade. The difference in tax rates are considerable with capital gains taxed at up to 20%, and trading profits at up to 45% - with National Insurance on top.

FINANCE

❛❛ Failure to act

now in banking losses to set against future gains could be costly ❜❜

Where a crypto investor has sold a cryptoasset at a loss, that loss must be claimed within four years of the end of the tax year in which the loss was realised. For example, if an individual sold three Ethereum at a loss on February 15th 2022, they would have until April 5th 2026 to make a claim for the loss relief. If that individual does not complete a UK Self-Assessment Tax Return (which many 18-29 year-olds will not), they would need to write to HMRC within that time frame.

There are so many projects that fail to achieve the hundredfold return that so

many new investors dream of. Social media is awash with excited young inves to r s wh o have pl o u g h e d thousands into projects promising the world, only to find that after months or years, their investments are worth next to nothing. Most will retain those holdings in the hope that one day it may recover, or it may be that the costs of disposing of the asset would cost more than the asset is worth. It may also be the case that there is no liquidity left on the decentralised exchanges to enable them to sell the asset.

Very few will be aware of the ability to m ake a l os s c lai m in th ese circumstances.

A ‘negligible value claim’ can be made where the value of an asset (including cr ypto assets as per HMRC ’s Cryptoasset manual at CRYPTO22500) is worth next to nothing. There is no definition in legislation of ‘next to nothing’ so there is an element of subjectivity in assessing whether an asset is indeed worthless.

For example. Mr Smith buys 10,000 tokens on a Decentralised Exchange for £0.50 per token in October 2021. By April 5th 2022 (end of the UK tax year), the price is £0.01 per token, and it

appears as though there is little liquidity remaining on the exchange, and the founders have all but ceased social media interaction with the community.

A claim could be made on a 2021/22 Tax Return to bank the £4,900 loss, which can then be carried forward indefinitely. The tokens are deemed to have been sold and reacquired at £0.01, despite the investor continuing to hold them. If the tokens are subsequently sold at a profit further down the line, Mr Smith would have to assess the gain to Capital Gains Tax with the base cost now being £0.01.

If Mr Smith sells a buy-to-let property in 2022/23, realising a gain of £17,200, the £4,900 loss brought forward would cover the taxable element over and above the Capital Gains Tax annual exempt amount, which currently stands at £12,300. This is worth up to £1,372 in tax relief as a higher rate taxpayer pays 28% on residential property gains.

If crypto investors do make gains in the future, whether this is on the sale of more digital assets, or other assets subject to Capital Gains Tax, they may live to regret not banking their crypto losses now. With the EU voting to ban anonymous cryptoasset transactions, and the FATF rules for Crypto Exchanges and Custodians looking to tighten the rules up around money laundering, it will become easier for tax authorities to pick up gains. Failure to act now in banking losses to set against future gains could be costly.

If you would like to discuss crypto assets, you can get in touch with Paul Webster by emailing paul.webster@krestonreeves.com.

Visit www.krestonreeves.com or call us on 0330 124 1399.

43

EDUCATION

By Richard Taylor-West, Housemaster/Head of Religion, Ethics and Philosophy, Hurst College

SCHOOLS – NEEDED MORE THAN EVER There is little doubt that good schools are needed now more than ever. Human beings are essentially – and I use that word precisely – social animals, and if we lose sight of this, we are in trouble.

The long two-year stretch of Covid-19 was clearly damaging to young people.

Ofsted produced reports in November 2020 and the findings were stark.

Young people had been de-skilled, some had developed mental health issues and others found simple tasks like reading very difficult to perform.

The top inspector of schools, Amanda Spielman, said: “The impact of school closures … will be felt for some time to come – and not just in terms of education, but in all the ways they impact on the lives of young people.”

One aspect of their lives that concerns me is their interactions with others.

Headteacher Jill Thompson was quoted in the tabloids as saying that, in her mind, children were up to two years behind socially – and this is a huge problem, if true. I suspect it is. Even at Hurst, where I am a boarding housemaster, I have seen this, and I am not surprised. Students who spent two years lacking structure, not working to

44

strict timetables, not having to meet expectations of behaviour or deadlines, have been affected and are now having to readjust.

For the business world, I see these developmental dips as challenging unless they are met head-on and resolved, over time. This needs to be done deftly and carefully. We cannot bludgeon pupils back into shape; they

❛❛ Ofsted produced

reports in November 2020 and the findings were stark ❜❜

will need to be cajoled, encouraged, and skilfully formed. This takes no small degree of empathy and guidance. We need to prepare them to lead conferences, to engage in efficient recruitment, resilient project management, and so on. They are the future.

At Hurst, we have faced a few tests in this regard, but we are prepared for them. We are fortunate to have time with the pupils, a privilege of the boarding environment, which creates a longer day and evening activities too.

We have more time with them to discuss projects, help them manage deadlines, and to structure their work. If the wheels come off, every now and then, tutors are here to help put them back on. Our staff aim to be patient, firm and thorough, guiding pupils with their extended projects, Young Enterprise, the Duke of Edinburgh Award and so many other activities that are designed to provide opportunities for social interaction and teamwork.

Matthew Arnold, in his great work Culture and Anarchy, famously argued that the good schools had a part to play in helping young people throw off ‘sheepishness’ and ‘awkwardness’ and

EDUCATION

so develop the confidence to work successfully with others in teams and communities.

He was right. At Hurst, we talk about having ‘confidence’ but not ‘arrogance’.

We like to help young people to become highly effective team players but also open and generous leaders.

We aim to nurture young people so that they enjoy their own strengths whilst having the emotional intelligence

❛❛ At Hurst, we like to help young people

to become highly effective team players but also open and generous leaders ❜❜ to make space for others and their ideas, embracing diversity and creating inclusion.

Interestingly, an article in the HuffPost recently said that businesses want

‘value for money’ and ‘people that will hit the ground running’ and provide results that will ‘ justify their appointment in the first place’. I firmly believe Hurst’s young people can do just that.

They are IT literate, confident, and used to challenging experiences. Six hours of lessons, followed by sport, the cadet force, the Choir, DT workshops and homework is a pretty average day for a Hurst pupil. They tend to leave us with charged batteries and ready for action, and we are proud of that. It’s what Hurst is all about.

Richard Taylor-West, Hurst College www.hppc.co.uk

45

BUSINESS

Deciding to take out a loan is a big step for any business, whether you’re just starting up or setting your sights on growth for your existing business.

HOW TO PREPARE FOR A FINANCE APPLICATION You might be considering finance to kickstart your new business. Alternatively, you might be looking to support your already established business, such as through investment in business assets, or expanding your operations or team, or as a buffer against shortfalls in cashflow.

When applying for business finance, it’s helpful to know beforehand what you can expect to be asked for from your lender, so that you can begin to gather evidence for a strong application. By preparing in advance, you are not only increasing your chances of securing finance; but you are also heading off any potential hiccups in good time, which avoids delays, as well as making the whole process a less stressful one for you.

There are a vast number of options to choose from when it comes to finance providers. Business finance is available from a number of different institutions, from household name high street banks to lenders with an alternative approach, like Community Development Finance Institutions and Peer-to-Peer platforms.

The latter can offer competitive loan amounts and terms to business. Each lender will have a different application procedure, requiring different information from you.

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Due to the variety of options available to businesses, one of the first things to consider before starting your application is deciding which lender is the right fit for your business. Seek out expert advice to ensure that you are applying for the right type of finance. There is a wealth of information out there, from free business support and advice from organisations like Let’s Do Business Finance, to accountants, banks or commercial finance brokers who can provide clarity on what type of finance you need, and the best place to get it from.

Whether you’re gearing up to raise finance for a start-up or a growth loan, one thing that many lenders will ask for is a detailed overview of your business in the form of a business plan. Your lender will want to

understand your business – what it is, how it works, who your target market is, and your plans for the short and long term. Your plan should give a comprehensive picture of how, if your application is successful, you will use the finance to achieve your goals, and if you will be able to make the repayments.

A business plan, as well as being a key part of your business application, enables lenders to get a real sense of your business, and how viable a business loan will be, as well as give an insight into how much you need to borrow to succeed. It also creates a road map for you as a business, helping you to make sense of your business journey and, in making a plan, help you stick to it.

Alongside a business plan, lenders require you to provide the financial history and performance of your business, normally in the form of copies of your financial accounts. For established businesses applying for a growth loan, this is usually spanning back at least the previous two years. For pre-start and start up businesses, this might be similar to the last six months of business bank statements, as well as the last three months of your personal bank statements. Sharing this information enables

BUSINESS

access and analyse the relevant information from your accounts online, cutting out the time delay that traditionally came with the need for paper copies.

Lenders may also ask for a Cash Flow forecast for your business, anything from 12 months to a few years, to show how you expect to grow. For new and aspiring business owners this element can seem tricky – but essentially, you need to gather together your key expenditure, and price this against your projected sales and profits. Expenditure can be anything from rent, salaries, materials, assets, bank loans, fees and charges, marketing and advertising spend and tax, and will be different for every business.

A well thought-through and prepared application provides the lender ❛❛ a great deal of comfort as it shows the owners have done their homework, have a clear plan and road map of how they will achieve their plans, where the funding request fits into that and, importantly, how it will be repaid.

The converse tends to be true of poorly prepared applications with incorrect or missing information, which indicates a poorly run business which doesn’t inspire confidence that they will get repaid Sean Dennis, Managing Director at Let’s Do Business Finance

❜❜

lenders to study expenditure and profits and gauge the general outlook for your business, as well as determine your ability to make repayments on your loan.

A good rule of thumb for any finance application is to show that you can manage your existing debt, either in your personal or business accounts. To pre-empt these checks and show to

lenders that you are responsible with your finances, you might benefit from checking your own credit rating in advance and work on improving it in the lead up to your application, as this may increase a lender’s confidence in you.

The use of Open Banking has made this a much easier and transparent process, as Open Banking enables the lender to

The journey starting or growing your business can be unpredictable, so a good addition to any application is to show that you have alternative options to financing, as this can demonstrate to lenders that you are responsible and may improve your chances of accessing funding.

Forward thinking when it comes to preparing for your finance application is key. It allows you to gather quality evidence for your application ahead of time and negate any bumps in the road, as well as gives you some wiggle room to fine tune your proposal along the way. By preparing detailed and well thought out supporting documents, you not only show lenders how responsible you are – thereby improving your chances of a successful application – but you’re also helping to create a solid foundation for your business to fall back on, and a roadmap to follow for the future.

Let’s Do Business Finance is a Community Development Finance Institution which supports businesses both starting up and already established with our financial services, including Start Up Loans, Business Loans, and Brokerage. If you’re considering business finance, get in touch with our team at www.letsdobusinessfinance.co.uk/ or email info@ldbgroup.co.uk for more information.

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Worthing Leisure Worthing Centre Leisure Centre Thurs 22nd SeptThurs • 10am 22nd - 4pm Sept • 10am - 4pm

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EVENT

The Better Business Show will take place on Thursday September 22nd between 10am – 4pm at Worthing Leisure Centre

THE BETTER BUSINESS SHOW IS BACK! Bigger Better Stronger Together The Show is in its ninth year, and is wellknown locally as the ‘must-attend’ business exhibition in our area. The Show has a strong focus on buying local, showcasing some of the fantastic businesses that are right on our doorstep. From the Pre-Show Networking Breakfast at 8.30am to the close at 4pm, the day is going to be jam-packed with speakers, exhibitors and networking opportunities.

There is something for everyone.

Whether you are interested in meeting like-minded businesses to grow your network, finding that all-important new client, procuring for your own business or just having a great day out hearing from inspirational speakers and meeting lots of local businesses, then this event is for you!

If you are a previous attendee, you will know that this event always has the most amazing buzz in the room; it really represents the vibrant local business community that we are so lucky to be a part of.

The Better Business Show is all about connecting the local business community by collaborating and growing together. As the Chamber always says, “together, business is stronger”.

EXHIBIT AT THE SHOW!

Join over 100 exhibitors to showcase your business and raise your profile. Stands are now on sale and selling fast, starting from just £219 + VAT. “Would 100% recommend to any business looking to boost brand awareness” To find out more about booking a stand visit worthingandadurchamber.co.uk

Registration to attend the Better Business Show is open now, book your free place at worthingandadurchamber.co.uk

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Finance focus webinar: Book your place!

This webinar will update you on the recent and forthcoming financial, tax, and restructuring changes and how they impact your business.

Date and time: Tuesday 5 July 2022 | 9am - 11am

Our experts will advise you on how to plan now, prepare for tomorrow and make the most of opportunities available.

To book your place, contact Elise Mason: T: + 44 (0)330 124 1399 E: events@krestonreeves.com W: www.krestonreeves.com/events

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.

For more than accountancy, business and financial advice.

Call: +44 (0)330 124 1399 Email: enquiries@krestonreeves.com Visit: www.krestonreeves.com

FINANCE

By Daniel Morgan, Managing Partner, Haines Watts Esher

Wealth planning conversations for business owners For the majority of business owners, personal wealth is closely connected with the success of your business, which means business decisions often have a signifi cant impact on your life beyond work. Many owners don’t prioritise personal wealth planning – which can limit options for tax-effective planning, and leave a variety of risks unmanaged.

Here are the top three planning points I talk to my clients about when encouraging them to think about their personal wealth objectives.

DON’T PLAN IN ISOLATION

While business and personal assets should be treated differently when it comes to tax and wealth planning, these need to be viewed in a joined up way in order to make the best decision on how to structure your affairs in the most tax-efficient manner.

FUTURE PROOF YOUR BUSINESS AND PROTECT YOUR FAMILY

Often neglected is a plan for the possible death or incapacity of an owner. If this were to happen, it’s vital to understand how the assets you hold personally such as shares or property can be transferred to the family in the most tax-effective way, or released so the business can continue to benefit.

There are many options to explore such as structuring these assets in a trust or Family Investment Company, which can secure these for your family and also mitigate Inheritance Tax consequences.

Shareholder protection can also be useful if it makes commercial sense.

If, for example, you are thinking about purchasing property, or have extra cash in the business, it’s important to think about how you hold these assets and what you do with them in relation to both your business and personal wealth goals.

❛❛ There is always a fine balance

to be struck between preserving the family’s wealth and planning for inheritance tax ❜❜

This arrangement enables surviving owners to purchase the deceased owner’s shares from their estate which provides the dependents with a source of cash and keeps the business in control of the remaining owners.

SECURING GENERATIONAL WEALTH

There is always a fine balance to be struck between preserving the family’s wealth and planning for Inheritance tax.

Essentially, this type of planning involves two options: transferring assets to beneficiaries directly, or through a vehicle that offers protection of your assets like trusts or certain corporate structures such as Family Investment Companies.

Changes to tax rules can often trigger the need to review these plans, whether in relation to the treatment of disposal of particular assets or changes to trust taxation or the treatment of non-domiciled tax payers. This sort of planning works best with longer term strategies and measures being taken over time.

It takes time to develop the right strategy to protect your wealth and pass on your wealth to the next generation in a manner that minimises the tax burden for you and your family and protects your assets for years to come.

It’s never too early to have conversations about how you should structure your business and the ownership of your assets in context of your personal wealth and succession goals. Talk to us today to see how we can support you and your business.

If you would like to discuss the best way to secure your wealth, get in touch. www.hwca.com/accountants-esher T: 020 8549 5137 E: esher@hwca.com

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THE GRAND BRIGHTON

SUSSEX BUSINESS AWARDS 2022 ESTABLISHED SINCE 1988

PROUDLY SUPPORTED BY

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Proud to support

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LIMITED SPONSORSHIP OPPORTUNITIES AVAILABLE CONTACT INFO@PLATINUMMEDIAGROUP.CO.UK

Company of the Year

Large Business of the Year

Sponsored by

Sponsored by

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.

Businessperson of the Year

Community Hero Award

Sponsored by

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

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.

Young Achiever of the Year Sponsored by

Recognising the achievements of a young professional aged between 18-30 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’.

Employer of the Year Sponsored by

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

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.

Sponsored by

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

Sponsored by

Sponsored by

Creative Industries Award

Sponsored by

Innovation in Business Award

Medium Business of the Year

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).

Best Customer Service Sponsored by

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.

Start-up of the Year

Sponsorship available

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 February 2019 and no later than August 2021.

Business Growth Award Sponsored by

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.

Professional Services Award

Sponsored by

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.

International Business of the Year

Sponsored by

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.

Small Business of the Year Sponsorship available

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 of no more than £500,000.

INNOVATION

MEET THE SUSSEX PIONEERS Sussex Innovation has been supporting some of the region’s most innovative companies for more than 25 years. Now the organisation has launched a new premium TV series, speaking to business owners and experts about how innovation happens and why it’s of critical importance to any small business.

By Nigel Lambe, Chief Executive, Sussex Innovation Last year, we made our bid to the UK Community Renewal Fund to support the East Sussex business community in its recovery from the turbulence of the past few years. Rather than simply repackaging the work that we already do with innovative start-ups, we wanted to make sure that we designed a programme for the whole business community. It’s exciting working with new technology and radical ideas, but we also know that there are hundreds of great small businesses across the county who have very different needs.

We hear a similar story every day, whether it’s from small manufacturers, law firms, retailers or hospitality businesses. SMEs recognise that they need to try new ideas, develop new processes and launch new products in order to

stay ahead of the competition. In most cases, however, there are two major barriers – they’re not confident with how to go about it, and they don’t have the time to get started.

With this in mind, we got to work making our Sussex Pioneers series. We wanted to create something that would demystify innovation, offer a training toolkit that would cover all the fundamentals, and be available to anyone, whenever they want to access it.

I’m proud to say that it has now launched; eight films packed with inspiring stories of local innovators, insightful conversations with experts, and impactful ideas to bring into your business. The series is supported with a forum to connect and collaborate with

other companies, bitesize innovation canvases to keep track of your plans and weekly live Q&A panels. And it’s completely free – visit sinc.mylearnworlds.com to get started!

❛❛

We recognised that there were lots of inefficiencies that we found frustrating, but had never thought to address ourselves. It came to a point where we thought ‘let’s do something about this’, so we decided to create our initial product Dr Rosie Scott, Co-Founder, Definition Health

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INNOVATION I didn’t buy this business ❛❛ as an environmentalist with a vision to change the world around CO2 in construction. I came to it indirectly, when a customer approached us to recycle a particularly difficult type of waste, and we had to find a way to do that James Bailey, Chief Executive, Roadways

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You might think that most innovation happens on university campuses or in laboratories. But in fact, the most common sources of innovative ideas are your own employees, suppliers and customers.

After that are other perspectives from your industry, such as competitors, consultants, professional bodies and conferences. While radical innovation can often be taken from a different context, incremental innovation usually starts closer to home.

One final thought: it’s only a real opportunity if you can capture the value you create. Think about the assets your business has that your competitors don’t. Is it your brand and reputation, or knowledge that only you have access to?

Intellectual property like patents or trademarks? Technical complexity that can’t be easily copied? Or competitive advantages in marketing, production and operations?

LOOKING FOR YOUR NEXT INNOVATION? A TASTE OF WHAT TO EXPECT:

Every innovation strategy begins with a search for opportunity. Before we can decide what, how and why we are going to innovate, we need to have a full picture of the options open to us.

But before we get there, it might be helpful to start with a definition. What exactly is innovation? Many businesses think they’re not capable of innovating, because they think of it as inventing something entirely new. That’s not the whole truth. In fact, innovation is about successfully creating and capturing value from a new idea.

It doesn’t have to be a product – it could

be a service, a process or the way a business is positioned. It doesn’t have to be new to the world – it could be new to a place, or simply new to your organisation.

And it doesn’t have to be a radical change – innovation is very often an incremental process.

Innovation isn’t a single flash of inspiration. It’s a process that involves some guesswork, experimentation and then careful implementation. That’s why you need to build systems involving your whole team to manage it. Innovation can start from anywhere, and to find and harness the right opportunity, you must always be open and receptive to new ideas.

If you’re a registered business with an address in East Sussex, you can register to watch all episodes of Sussex Pioneers completely free of charge at http://sinc.mylearnworlds.com This project is funded by the UK Government through the UK Community Renewal Fund. www.sussexinnovation.co.uk

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BUSINESS

CASE STUDY

GOJOE

environment, which was made more difficult at the outset of their journey given neither of them had any background in tech. They also mentioned keeping up with the commercial demands, moving at the current speed on a limited budget and not getting ahead of themselves.

Fitness made social and easy for your ‘Average Joe’ Take a look at how a simple but innovative idea, starting with two lawyers at university, led to investment by Alistair Brownlee MBE, the acquisition of global clients such as Diageo, PwC and Experian and, more recently, the closing of their second investment round for over £1m!

Two sports lovers, Will Turner and Phil Steele, met at university 18 years ago while studying law. Both went on to become sports lawyers, with Will spending eight years with Team GB, moving from the legal side to a commercial side, while Phil went on to become a partner at Brabners for 13 years.

Both of them loved, and were motivated by, the social element of sport and exercise, and would run team-based athletic events at university with their house of ten ‘ordinary joe’ friends (which they still do to this day). They realised they took something from the experience in terms of motivation and enjoyment which they did not find in existing digital or physical fitness products, many of which weren’t particularly innovative, and which focused primarily on ‘invested athletes’.

Phil and Will felt that there was an opportunity to use their commercial experience to create a product that could keep the masses on their exercise journeys for longer through data, influencers and the blockchain.

When asked about their business and personal motivations, they mentioned wanting to create something that would use exercise as a way to connect and motivate people across the globe to stay on their exercise journeys for longer, that was truly social and which leveraged community and athletes in an innovative

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When asked about what the most rewarding parts of being founders was, they mentioned “being captain of our own ship, and being able to shape the direction of travel” and “getting the freedom to make your own choices which could have a major impact on our business… where highs are higher, and lows are lower”. They also mentioned getting to innovate and try new things was very rewarding. way. They have very ambitious growth plans, aiming to make GoJoe the biggest fitness app in the next five years, and they plan to do this via many different ways. One of those, in particular, is how – despite being a consumer product – they are already working with some of the world’s biggest companies on the B2B side, who are using GoJoe to engage and connect their staff in an innovative way, with a focus on digital wellbeing and movement.

GoJoe’s offering is highly innovative, in particular how they are building out their integration of NFTs and the blockchain to give genuine value to its global community of users in an authentic and sustainable way. In terms of challenges, the team noted the difficulty of building a tech product in such a fast-moving

Both founders wanted to give a big thanks to the NatWest Accelerator for helping them through its mentorship, during which time they were provided with investment and recruitment guidance as well as giving them the confidence required to get the product out there at an earlier stage than they would have otherwise done. Their advice to up and coming entrepreneurs would be to do the same, and to take risks in recognition of the fact that countless mistakes and learnings will be made along the way.

To end, they wanted everyone to go check out GoJoe at gojoe.com and download the mobile application to get started with their exercise journeys, enter challenges with their friends and many others around the world.

Phil Steele: www.linkedin.com/in/steelephilip Will Turner: www.linkedin.com/in/will-turner-8a315833 GoJoe: www.linkedin.com/company/readysetgojoe www.gojoe.com

Does your business need a helping hand?

During these unprecedented times, many businesses are struggling so we would like to help. We are offering free general guidance on: • Unpaid invoices & contract disputes • Commercial landlord & tenant issues • Professional Negligence • Commercial insurance claims

• Trading Standards & consumer complaints • Shareholder & Partnership disputes • Employment claims & settlement agreements • Franchise disputes

Call us on 01273 223290

or visit www.mayowynnebaxter.co.uk/here-to-help

Offices across Sussex

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ECONOMY “May PMI data revealed a marked slowdown in activity growth in the South East’s private sector. Output and new orders rose at the softest pace for five months while backlogs neared stability. Employment continued to expand sharply, however, with staffing levels rising at a quicker pace amid hopes that clients would increase their orders.

› COM M E N T CATHERINE VAN WEENEN

NatWest London and the South East Regional Board:

“That said, data for the region was gloomy, especially on the price front. Inflationary pressures continue to build and show no signs of letting up. In fact, input and output price inflation were at record and near-record rates, respectively, with the war in Ukraine exacerbating prices for fuel, materials, energy and transportation. Brexit also hasn’t helped matters, adding an extra headwind to firms.

“Companies in the South East subsequently lowered their expectations for output growth which remained positive, but dipped to the lowest for just over a-year-and-a-half.”

NATWEST'S MARKET ANALYSIS DEMAND AND OUTLOOK NEW ORDER GROWTH SLOWS FOR THE THIRD MONTH RUNNING

NEW BUSINESS INDE X

sa, >50=growth since previous month

Private sector firms in the South East reported another increase in new business during May. However, the rate of growth eased to the weakest since last December and was slower than the long-run series average. Anecdotal evidence suggested that while some companies faced greater demand, others reported that clients were reluctant to spend.

53.5 May 2022

70 60 50 40 30 20 10 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22

FUTURE ACTIVIT Y INDE X

Sources: Natwest, IHS Markit

>50=growth expected over next 12 months

72.1 May 2022

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SENTIMENT DIPS TO WEAKEST IN OVER A-YEAR-AND-A-HALF.

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Sentiment regarding output levels over the year ahead remained positive in May. That said, the degree of optimism dropped to a 19-month low amid concerns surrounding the global economy, inflation, the war in Ukraine and material scarcity.

70 60 50 40 12

13

14

15

16

17

18

19

20

21

22

Sources: Natwest, IHS Markit

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More positively, only Yorkshire & Humber and the North West recorded a stronger level of optimism than the South East.

ECONOMY EXPORTS EXPORT CONDITIONS CONTINUE TO IMPROVE IN MAY

E X P O R T C L I M AT E I N D E X

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.

At 53.5 in May, down from 54.3 in April the Export Climate Index signalled 23 consecutive months of improvement in export conditions faced by South East businesses.

Of the region’s top five export markets, Ireland recorded the strongest expansion for the fourth month in a row, while France recorded a robust uptick. Germany and the US saw output growth moderate in May. Meanwhile, the Netherlands registered the softest expansion for a year-and-a-half.

BUSINESS CAPACITY STAFFING LEVELS RISE AT SHARP AND ACCELERATED PACE

sa, >50=growth since previous month

53.5

May 2022

70 60 50 40 30 20 10

07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 Sources: Natwest, IHS Markit

EMPLOY MENT INDE X

sa, >50=growth since previous month

Private sector firms in the South East continued to add to their head-counts in May, thereby extending the run of job creation to 15 months. Moreover, the rate of growth was marked, quickened from April and was much faster than the long-run series average. Panel comments suggested that firms sought to employ staff ahead of marketing campaigns and business expansions. At the sector level, service providers registered a stronger increase in head-counts than goods producers.

55.5 May 2022

65 60 55 50 45 40 35 30 25

PRICES INPUT-PRICE INFLATION QUICKENS TO RECORD HIGH

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

Cost burdens faced by businesses in the South East continued to rise substantially in May. In fact, the rate of inflation quickened to a fresh series high, surpassing March’s previous peak. The war in Ukraine exacerbated prices for fuel, energy and raw materials. Firms also reported higher labour, transportation and commodity costs.

Sector data indicated that manufacturers continued to register a steeper rate of input price inflation than service providers.

INPUT PRICES INDE X

sa, >50=inflation since previous month

87.4 May 2022

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Sources: Natwest, IHS Markit

❛❛ Cost burdens faced by

businesses in the South East continued to rise substantially in May ❜❜ CHARGE INFLATION SECOND-STRONGEST IN THE SERIES HISTORY

Amid rising input prices, private sector companies in the South East increased

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their selling prices in May. The latest uptick moderated from April’s previous peak but was still the second-strongest in the series’ history. Firms reportedly hiked their fees in line with larger cost burdens. Output charges have now risen in each of the last 20 months.

60 50 40 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22

Selling prices rose at a quicker pace in the region than at the UK level.

Sources: Natwest, IHS Markit

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LEGAL

Business owners often look at succession as something that will happen many years or decades into the future.

The truth is, writes Jessica Partridge of Mayo Wynne Baxter, none of us knows when these plans will become reality

BUSINESS SUCCESSION PLANNING Whatever your age, if you own a business, it is important to consider who you could involve now at a management level. You may also wish to put in place a Business Lasting Power of Attorney to enable a trusted individual to act on your behalf should you become unable to do so by way of mental or physical incapacity.

Investing in legal advice now could avoid everything you had planned for the future of your business and for your family being completely washed away.

Planning ahead ❛❛ to protect your family

and employees from unprecedented stress is surely reason enough to put provisions in place

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DO YOUR ARTICLES OF ASSOCIATION, PARTNERSHIP AGREEMENT OR LLP AGREEMENT ENABLE YOUR EXECUTORS TO ACT?

Ensuring your organisation’s governing documents enable your executors to act on your death and not to have to wait to get probate is essential. Failure to do so may result in the business being unable to trade.

A starting point is to ask yourself if your business could survive for up to six months without you while your executors obtain a grant of probate. Would the business be able to continue to pay its workers, suppliers and fulfil customer orders?

It is likely your governing documents will need amending to allow the executors to act.

DOES YOUR WILL COMPLEMENT YOUR ORGANISATION’S GOVERNING DOCUMENTS?

Many of our corporate clients separate out their wishes for their private and business assets, but tying the two together is vital when it comes to planning for the future. It is common to assume that because a Will is in place, everything is in order. However, there could be an important missing link.

Our experienced team can examine your governing documents and your Will to ensure they fit together. As seen in a recent High Court case, the wishes you have set out in your Will may not in fact be possible because of the way your articles of association have been drafted. Once they are in place, it is important to keep these documents under review and ensure they remain up to date as your business and personal lives change.

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LEGAL

KEY PERSON INSURANCE WITH A CROSS OPTION AGREEMENT

Having insurance in place along with a cross option agreement for fl exibility gives further peace of mind. Most people will pass their business interest to their spouse, partner or family. Those benefi ciaries may wish to ‘sell’ these back to the business, but there is nothing binding to make this happen in the absence of a pre-drafted agreement. The business may not be able to buy the shares from the beneficiary (even if they wanted to) as they may not have any readily available cash. Perhaps borrowing is an option. This will take time. Would it even be possible against the likely backdrop of a potentially traumatic period for the organisation?

They could sell the shares on the open market but, would they get a fair value?

How long would this take? The business would almost certainly not welcome this course of action.

What else? The spouse may decide to keep the shares and become actively involved in the business. This could be an unwelcome event for any remaining business owners.

Key person insurance would solve this problem, allowing the business owners the option to purchase via the life insuranc e policy which allows the beneficiaries to receive the cash they would prefer.

CHECKLIST:

n Check key man insurance n Check life insurance n Check shareholder/partnership agreements/articles n Check powers of attorney n Check business structure n Update the Will n Talk to the family n Talk to the professionals Planning ahead to protect your family and employees from unprecedented stress is surely reason enough to put provisions in place in case any of the scenarios above were to play out.

Jessica Partridge Mayo Wynne Baxter.

E: jpartridge@mayowynnebaxter.co.uk DD: 01273 223203

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OPEN FOR ENTRIES ENTRY DEADLINE AUGUST 31ST 2022 DOWNLOAD YOUR ENTRY FORM ONLINE WWW.PLATINUMMEDIAGROUP.CO.UK BUSINESSES CAN SUBMIT UP TO THREE ENTRIES ● £25 PER ENTRY AWARDS CEREMONY NOVEMBER 3RD 2022 G LIVE GUILDFORD

SURREY BUSINESS AWARDS PROUDLY SUPPORTED BY

LIMITED SPONSORSHIP OPPORTUNITIES AVAILABLE CONTACT INFO@PLATINUMMEDIAGROUP.CO.UK

Businessperson of the Year Sponsored by

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

Professional Services Award Sponsored by

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.

Small Business of the Year Sponsorship available

(turnover under £500,000) 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.

Best Customer Service

Sponsorship available

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.

Business Innovation of the Year

Most Sustainable Business

Chamber Member of the Year

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.

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.

Sponsored by

Large Business of the Year Sponsored by

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.

Business Growth Award

Sponsorship available

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.

Start-up of the Year

Sponsorship available

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 February 2019 and no later than August 2021.

Sponsored by

Medium Business of the Year Sponsored by

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.

Community Hero Award

Sponsorship available

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

Company of the Year

Sponsorship available

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.

Sponsored by

Employer of the Year Sponsored by

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

International Business of the Year Sponsorship available

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.

Young Professional of the Year Sponsorship available

Recognising the achievements of a young professional aged between 18-30 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.

EVENTS

CREST22 Speakers, sponsors and winners with CREST Business Awards Co-Directors Carol Miller (far left) and Terry Tidbury (far right)

Surrey woman who helped feed thousands takes green award its beer made from unsold loaves from their local bakery.

Raj Kumari Byford, founder of One Thought Changes All, is Sustainability Hero 2022 at the CREST22 Business Awards; Surrey’s only green business awards. The Hero award was one of six coveted titles announced at an awards ceremony in May covering a wide cross section of businesses.

Raj, from Weybridge, who set up her not-for-profit business and has helped thousands of vulnerable residents struggling to cope, said: “This award will enable us to now open more doors to help create more environmentally friendly projects to help ensure we have a sustainable future.”

Woking-based McLaren Applied’s winning entry for Smarter Transport was for research and development work that includes a key component for delivering the next generation of electric vehicles, weight reduction technology for train carriages and a fuel analytics platform to reduce carbon emissions.

“As a Surrey-based employer, we’re proud to see our locally-developed solutions being recognised for the

Professor Angela Druckman, Director of the University of Surrey’s Centre for Environment and Sustainability, and her team have worked in association with CREST Awards since its conception and gave each category award winner the chance to receive sustainable business consultancy advice and CDP training. pioneering role they play in the transition to more efficient and lower carbon forms of transport” commented Business Director, Samir Maha.

The Sustainability Impact award was won by Clandon Wood Nature Reserve and Burial Ground on the outskirts of Guildford, while Claire Brown of PlantPassion, which farms and supplies seasonal sustainable flowers in East Clandon, won the Efficiency Champion award.

Nordic Wellness Drinks, which produces Kefir-based fruit drinks, and helps to educate local communities about natural, good health, took the Going Circular title.

Reigate-based Crumbs Brewing won this year’s Transforming Food award for

She said: “The Centre for Environment & Sustainability (CES) at the University of Surrey is delighted to support the CREST22 Awards. CES is keen to work with local businesses to help them become more sustainable.”

Cllr Marisa Heath, Cabinet Member for Environment for Surrey County Council, who were headline sponsors, said: “Surrey County Council is delighted to recognise businesses who are working so hard to reduce carbon emissions in Surrey.”

https://crestawardssurrey.co.uk

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BUSINESS

Low Carbon Across the South and East provides grants to help businesses reduce their carbon footprint – as well as those of their supply chains – through developing and promoting green goods and services.

HOW CAN BUSINESSES REDUCE THEIR CARBON FOOTPRINT? ENERGY REDUCTION There are many ways to reduce the footprint of day-to-day operations; replacing inefficient lighting is an obvious low-cost step that offers a high return in terms of savings. LoCASE has supported many SMEs to change from old style strip lighting to LED systems which can result in 60-80% savings. The bigger the building, the longer the hours’ use, bigger the savings could be. We’ve recently supported a football club to replace their floodlights, helping them to reduce their energy costs and improve their facilities whilst tackling their carbon footprint.

Reducing heating costs has the same challenges. For instance, using infrared heaters, which are more efficient than

using gas or electric portable heaters will help, as will replacing gas boilers and adding zoning controls. Air or ground source heat pumps work well in suitably insulated buildings to provide greater energy savings than using older gas boilers.

Moving your fleet to electric vehicles can also provide substantial savings.

LoCASE has supported an SME to replace a diesel van with two e-cargo bikes, saving thousands of pounds each year in fuel costs. Other SMEs are buying second-hand electric cars, vans and taxis to reduce their costs and drive down their environmental impact.

We are also seeing high demand to support solar projects for sports clubs, charities and other businesses to reduce the day-to-day use, while looking to reduce the cost of grid supplied electricity, with some also using battery storage to support energy use in the evenings.

With grant funding reducing the overall projects cost, the return on investment can be made in just a few years. With the further increases in energy costs expected again in the Autumn, more savings can be expected.

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❛❛ With grant funding reducing the overall projects cost, the return on investment can be made in just a few years ❜❜ GREEN GOODS AND SERVICES LoCASE also provides funding to help promote green goods and services, whether that be electricians promoting heat pumps or solar installations, double glazers promoting increased energy savings in their products or those working to develop goods that need extra R&D, or marketing support to help promote a new product launch.

The Low Carbon Across the South and East Programme has been funded by the European Regional Development Fund.

It is a partnership between the Kent County Council, Basingstoke & Deane Borough Council, East Sussex County Council, Essex County Council, Isle of Wight Council, Portsmouth City Council, Rushmoor Borough Council, Southampton City Council, Southend-on-Sea Borough Council, Surrey County Council, Test Valley Borough Council, Thurrock Council, University of Brighton, the University of Portsmouth, West Sussex County Council, and Winchester City Council.

STEPS TO ENVIRONMENTAL MANAGEMENT – A FREE RESOURCE The aim of this free business support is to facilitate the reduction of carbon emissions by providing training, tools and resources to assist SMEs to implement an environmental management system or plan.

This is delivered by the LoCASE partnership across three levels: Blue, Silver and Gold. Each SME completes a stage, moves on to the next level and achieves accreditation.

Check out www.locase.co.uk for more information.

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CHARITY FOCUS

Are you an adventure-seeker or adrenaline-lover, marathon sprinter, or more of a weekend walker?

Whatever your challenge, make this summer your time to jump, run, climb, walk or cycle for your local children’s hospice, Chestnut Tree House

JOIN TEAM CHESTNUT THIS SUMMER “When I was about 24 weeks pregnant, we visited Chestnut Tree House for the first time,” says Mum, Dawn. “You hear the word ‘hospice’ and you get frightened; you think of a sad and gloomy hospital setting. But it’s not like that. We walked in and it instantly felt like a home away from home; it was amazing. We stayed for dinner, had a swim with the boys - it is such an amazing place.

By joining Team Chestnut, your support means that children with life-limiting conditions can just be children.

Whether it’s getting messy with arts and crafts, exploring the great outdoors, or relaxing in the multi-sensory room, your donation helps them make the most of the short time they have. Children like Zac.

ZAC’S STORY

Three-year-old Zac was born with Semilobar Holoprosencephaly – an abnormality of brain development in which his brain doesn’t properly divide into the right and left hemispheres, resulting in severe complex needs and a life-shortening condition.

“We were given this diagnosis at our 20-week scan, and we were shortly referred to Chestnut Tree House, our local children’s hospice” says Dad, Adam.

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“When Zac was about six months old, we had our first community visit from Chestnut Tree House. It’s our only chance to relax and not to worry.

Sometimes we go out to the cinema, or for dinner – it’s the only time Adam and I can eat together.”

As well as community visits, the family also visit Chestnut Tree House for respite care. “We all stay together at Chestnut Tree House, it’s like a little holiday for us where we can have precious family time.

Zac is so happy to visit the House, when

we drive there, he knows where he is going and you can see he just gets so excited, he’s so happy when he is there.”

One of the family’s favourite things to do at Chestnut Tree House, is to visit for the activity days. “We’ve met amazing animals, a bubble-pop man, been to a medieval day, made some furry friends – Zac loves it, the boys love it, and we just love watching them all make amazing memories together.”

When asked what life would be like without Chestnut Tree House, Dawn said “I wouldn’t even want to think about it. It has been lifechanging in so many ways.

Our lives would be very, very different without Chestnut Tree House.”

CHARITY FOCUS

HERE ARE JUST A FEW WAYS YOU CAN BE PART OF TEAM CHESTNUT THIS SUMMER: ABSEIL AN ICONIC LANDMARK

Saturday August 20th Experience an adrenaline rush and take in stunning views over Portsmouth Harbour and the Solent as you abseil 100m down the iconic Spinnaker Tower.

MAKE A SPLASH

BLAZE THE TRAILS

Sunday July 17th Hit the Downs on two wheels this summer and take on the most exhilarating climbs and swooping descents that the South Downs has to offer. With a fully signed route, refreshment stops and mechanical support, our professionally organised off-road cycling event has everything you need to cross the finish line safely and in style.

Monday August 29th Head to the stunning Weir Wood Reservoir near East Grinstead for an open water swim. Take on 1km, 3km or even 5km in this truly unique outdoors open water swim and enjoy a day filled with natural beauty, camaraderie, and achievement.

GET YOUR RUNNING SHOES READY

Sunday September 4th Chestnut’s Littlehampton 10k starts along Littlehampton’s promenade and takes in the central town and residential Rustington, before a stunning seafront finish near the iconic East Beach Cafe.

Whether you’re looking to run your first 10k or beat your personal best, this fast and flat course by the sea is a great opportunity to get those running shoes out.

SOAR FROM THE SKIES

Sunday August 14th Take on your most exhilarating challenge yet, with a breath-taking 125mph freefall and stunning parachuted glide with views across the South West. A skydive really is the ultimate once-in-a-lifetime experience.

GIVE YOUR TIME

Volunteering is a great way of trying something new, gaining new skills and experiences, meeting new people, and giving something back your local community. Challenge seekers could not cross the finish line without the passion and energy of volunteers cheering them on.

From sorting donations in our shops and helping in the hospice gardens to cheering on fundraisers or assisting in the offices – there’s a volunteering opportunity for everyone!

Find out more about Chestnut Tree House at www.chestnut.org.uk.

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22 SEPT 2022 EPSOM DOWNS RACECOURSE WE’RE BACK FOR 2022!

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70+

Exhibitors

12+

Seminars

PEST CONTROL

Marketing, marketing, marketing was the advice given to me in the early days and, even when the business has been struggling, we’ve continued marketing. By Paul Bates

ENTERING AWARDS CAN BE AN EFFECTIVE MARKETING TOOL 6

In a sector where one company beginning with ‘R’ - which I happened to work for before I became the MD of Cleankill Pest Control – has incredible brand recognition, we have to work hard to promote ourselves. Once we’ve done that, we can persuade potential customers that we are a far better choice and offer superior service and value for money.

Entering local and national awards has become a core aspect of our marketing strategy. It’s often a marketing tool that is overlooked because people find them time consuming and difficult.

RECOGNITION Whether you win or lose, your name will be mentioned again and again throughout the awards ceremony, which is great publicity. I remember Hugh Dennis kept mentioning Cleankill during a ceremony because he found it amusing - and that was a year we didn’t win. By the end of the evening, everyone in that building had heard Cleankill’s name several times.

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HERE ARE MY TOP SIX REASONS FOR ENTERING AWARDS:

MORALE Award ceremonies are a great opportunity to show staff appreciation for their efforts. Buying them a ticket to the ceremony might cost you in financial terms but the loyalty it engenders will be priceless. If you win, they can share in your success. If you lose, then just being together at a social event is valuable.

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USP Have a unique selling point.

For example, Cleankill is an environmentally aware pest control company, and business awards are a great way to promote it. Even something that may seem an unnatural match – e.g. ‘green’ and pest control – will receive an enormous boost when you win an award for it. Cleankill has won several awards for being green at the Gatwick Diamond Business Awards, Croydon Business Excellence Awards, and Seahaven Awards.

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FEEDBACK Winning is great but it is not everything. The judges in a competition will know a thing or two about running a business, and may even know about your sector.

They are impartial, often work in your area, and can offer invaluable feedback.

There is no denying that entering business awards is time consuming, and it may force you to objectively assess an area of your business you would rather ignore, but that is part of their true value.

The question isn’t, “should I enter business awards?” it is, “can I afford not to enter?”

VISIBILITY Winners will have their profile raised through articles in local and trade press. You can also talk about your success on social media and on your website. It is a great way to let your customers know they are working with an industry leader, and it doesn’t hurt to differentiate your company from the competition!

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QUALITY By definition, a winner has been judged to be the best in that category. Even being a finalist is an amazing achievement. Since awards are often judged by local business leaders, being independently judged as the best at something in your region is always going to be a boost for your company and, because most business communities are quite small, this will give you an amazing advantage over the competition.

Cleankill was named Company of the Year in the British Pest Control Awards

For more information go to www.cleankill.co.uk

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TRAVEL Iceland is fantastic and I could easily spend weeks in this land of elves and trolls but if you have only a day or so in the capital, don’t fret, Reykjavik is small enough for you to be able to catch the friendly, creative Nordic vibe in a short space of time. But I warn you, you’ll want to go back and do it all again.

By Tess de Klerk

A DAY IN REYKJAVIK BREAKFAST – WHAT’S YOUR MOOD?

The Laundromat Cafe is a lovely, cosy little gem, perfect for brunch or lunch, with local specialities such as Skyr cake – and yes, there’s a laundromat downstairs. Looking for fantastic crepes, including gluten-free? I suggest heading to Eldur og Ís at the bottom of t h e r a i n b ow - p a i n te d r o a d , Skólavörðustígur.

In the mood for something more deathmetally first thing in the morning? Turn left at the bottom of that rainbow-hued road to find an unassuming cafe/bar in what must have been a house at some point. Order your breakfast beer and poke bowl amongst the politest leather clad rockers you’re ever likely to find.

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MIDMORNING MEANDERING

Head up the slope of the rainbow coloured road. (Yes, clearly I used it to get my bearings!) Icelanders are a creative bunch as seen by the street art and all the quaint makers and artists’ shops. (Did you know that around 10% of Iceland’s population will publish at least one book in their lifetime?)

Window shop and browse your way up the hill to find yourself looking up at the magnificent Hallgrímskirkja church, overlooking the whole of Reykjavik. This stunning expressionist style building’s design was inspired by the beautiful basalt columns at Svartifoss waterfall on the south coast of Iceland, and the

building work took 38 years to complete!

At the top of this 74.5-metre tall Lutheran church you’ll find a viewing platform boasting 360-degree views of the entire city - well worth the €7 fee for the lift.

LUNCH

I suggest heading to a cafe, of which the city has plenty. We enjoyed Café Babalú, with its suntrap rooftop terrace. Visiting this little yellow/orange cafe felt like a trip unto itself - or just plain trippy - with its eccentric and ebullient decor, colourful everything, with something of everything, it seemed to me. If you’re not quite up for the slightly bizarre then rather pop over the road to Salka Valka for a more classy menu. There really are plenty of eateries to choose from, and all are easily reached by foot in this tiny capital city.

TRAVEL

Sky Lagoon

DINNER

Hands down, my first choice would be the Old Iceland restaurant... in my humble opinion. Carnivores can’t go wrong by ordering the lamb ribeye and slow-cooked shoulder of lamb; stuff to write home about.

EVENING ENTERTAINMENT

There’s plenty of nightlife and it won’t be easy to choose if you have such a short amount of time but...

AFTERNOON ADVENTURES

Sky Lagoon You’ll have to hail a ride for this one but it’s only a few minutes outside of the city and it is STUNNING. A luxury spa – ‘Where the sea meets the sky’ – nestled in a cliff, fed by the healing thermal waters that Iceland is blessed with. The spa is an impressive ode to old Norse bathing culture fused with modern Nordic design. Go on, treat yourself, why not go for the seven-step immersive experience of pampering in a most impressive, fairytale setting?

Reykjavik City Museum and Settlement Exhibition Dig into the story of the Vikings at the Settlement Exhibition, the impressive archaeological site underground at the City Museum. It tells the story of human settlement over 1,000 years ago.

Sperm whale penis The Icelandic Phallological Museum If you’ve never pondered the prevalence of penises in the world, then this one will really shock you. Be entertained and engrossed in equal measure as you check out more than 250 specimens from whales to walruses to, well, men.

Sun Voyager at sunset A short stroll down from the penis museum, you’ll find the harbour and the Sun Voyager sculpture. Get there just before sunset for a great silhouette against the changing colours of the northern sky. It was designed by the renowned artist, Jón Gunnar Árnason as an ode to sun and light.

If you’re in Reykjavík from September to March, head out into the cold in hopes of seeing the aurora borealis dance through the night sky. Not sure where to go? Book a tour at Aurora Reykjavík: The Northern Lights Center to learn about their history and science before being taken to the best vantage point.

There’s a unique charm to Icelandic nightlife with good company, security, and plentiful drink options. You’ll find local and international clubs, bars and craft breweries to suit every taste - and it’s all centred around the main shopping street: Laugavegur. As you descend the main road, you’ll see that Laugavegur becomes Bankastraeti, then Austurstraeti. You’ll find nightlife all along this strip.

Stay at the stylishly offbeat Canopy by Hilton for a very convenient location.

Starting from £286 prpn during the summer season.

Sun Voyager

We could not fault Icelandair on our journey, and that says a lot these days! Tickets are much more expensive than they were a short while ago – pick up a return flight from Gatwick to Reykjavik for around £315 to £520.

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MOTORING

TECH STUFF MODEL: Quattroporte Trofeo ENGINE: V8 twin-turbo POWER: 572bhp SPEED: 0-60 4.3 seconds TOP: 202mph ECONOMY: 12.2 mpg combined PRICE FROM: £131,680

MASERATI QUATTROPORTE TROFEO As Maserati continues to deliver its entire range to me, l will continue, with some joy, to review their entire range.

It would be churlish not to. By Maarten Hoffmann So, as they drop the Quattroporte Trofeo onto my drive, this is a model that is well recognised as it has been with us since 2013.

Maserati still makes its big, bad fourdoor limousine, though l wouldn’t have blamed you for presuming it’d gone the same way as the Jaguar XJR, fading against the onslaught of Germany’s luxury saloons. A Maserati is a wilfully esoteric choice. That’s what makes it so achingly cool with the Italian trident having one last stab at

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the petrol V8 glory days, before it goes battery-powered.

You have the choice of two V6 engines, delivering 345bhp in the standard model, and 425bhp in the V6S. Then we come to the model on my drive - the barnstorming 572bhp, twin-turbocharged 3.8-litre V8, Ferrari-engined, real-wheel drive via an eight-speed auto box.

There are of course, more powerful Mercs and Beemers out there but they

are all limited to 155mph whereby the Maserati will demonstrate its party trick – 202mph with no limiter.

Now, you cannot, of course, go 202mph anywhere but the track and the German autobahns - or so it says in the Highway Code - but let’s just say that l ‘imagined’ what l am about to say. On a dark motorway at 3am l ‘imagined’ that it reached 192mph and was stable as a rock and still had legs to stretch – my ‘imaginary’ courage ran out before the engine.

We have to accept that there are betterequipped cars out there, with more tech, more gizmos, at a cheaper price with a better residual - but that’s not the point.

This car is obscenely cool and makes a Bond villain out of any grey average Joe

MOTORING

❛❛ We have to accept that there are

better-equipped cars out there… but that’s not the point ❜❜ that gets behind the wheel, whilst screaming “They don’t make ‘em like they used to.”

It has its quirks, of course. Floor it from standstill and it has a little think about it, the oily bits chat amongst themselves whilst they consider your foot’s request.

It will then rocket you to 100mph at which point the rear tyres finally find the traction to match the torque and all hell breaks loose; new underpants could be required. I opened it up at on the M23 at Gatwick and was at Heathrow within

seconds it seemed, and l still had my luggage!

With underpants still fresh as a daisy, l held down the Sport button for a couple of seconds and arrived at Corsa mode, or track to you and me. This turns off all traction and stability controls, and you take your life in your hands - literally. But blimey, this is how driving used to be and l miss it - a lot.

Inside, all is well, if a tad 1980s. But that in itself is refreshing if you drive as many

cars each year as l do; most new cars are achingly plain and dull with more buttons that your nan’s cardigan. It’s huge in the back, lashings of leather everywhere - it’s just a nice place to be.

You won’t get any change out of £130,000 but then the bragging rights alone could be worth that down the pub. What do you drive? As all the middle-management wallers respond with BMW, Mercedes, Audi you can take satisfaction with your response being ‘a Maserati Quattroporte’ eliciting the same response as the gunslinger does when entering the western saloon - the piano stops, silence reigns as they all turn to stare at the cool dude who just walked in.

Really, what price?

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THE BUSINESS MAGAZINE FOR WOMEN

THE DYNAMIC BUSINESS AWARDS All the winners inside SHERYL SANDBERG ‘The only adult in the room’ leaves Meta MOTORING Top tips for those long journeys HEALTH The benefits of a good night’s sleep

NAZANIN ZAGHARIRATCLIFFE

THE $600 MILLION WOMAN

July | August 2022 #17

Visualise your future with a 360° review delivering trusted, expert advice.

Pensions Investments Estate Planning Financial Management Now in the South East, Mattioli Woods will work hard to deliver the best financial outcomes for you.

Get in touch 020 8936 3970 julie.sebastianelli@mattioliwoods.com

Authorised and regulated by the Financial Conduct Authority.

www.mattioliwoods.com

cont ent s 10

BIG STORY Nazanin Zaghari-Ratcliffe

4 MEET THE STEERING COMMITTEE 5 WELCOME 6 UPFRONT All the latest bulletins from the world of business 8 Storm ahead?

Alison Jones of Kreston Reeves advises on fiscal matters for the uncertain times ahead 10 B IG STORY The $600 million woman The amazing story of Nazanin Zaghari-Ratcliffe’s incarceration in Iran, and the UK’s bungled efforts to release her 14 G etting ahead of the curve Samantha Kaye from Wellesley discusses how income protection and critical illness insurance can help to keep things on track 16 THE DYNAMIC AWARDS All the winners and highlights from this ground-breaking event in Brighton 20 S heryl Sandberg ‘The only adult in the room’ is leaving Meta (formerly Facebook). Dynamic looks back on her achievements

22 U sing technology to achieve pay equity Algorithms are being used more and more to equalise men’s and women’s pay, writes Dr. Margrét Vilborg Bjarnadóttir 24 Oh, sweet slumber!

Tess de Klerk considers the importance of a good night’s sleep. Every night.

26 P esky travel scams Tourists - especially women – are prey to many scams while travelling abroad. Dynamic suggests a few counter-measures 28 MOTORING ‘I–Spy’ v ‘War & Peace’ 30 top motoring tips for a happy holiday, by Fiona Shafer

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28

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MOTORING

3

MEET THE STEERING COMMITTEE

Our illustrious steering committee guide the editorial tone of the magazine

JULIE KAPSALIS Chair Coast to Capital LEP

FAYE LONG Regional Director NatWest Group

ROSEMARY FRENCH OBE Non-Executive Director Gatwick Diamond Initiative

EMMA LANE Head of Client Management Allica Bank

PAM LOCH Managing Director Loch Associates

ABIGAIL OWEN Senior Corporate Counsel DMH Stallard

ALISON ADDY Head of External Engagement Gatwick Airport

LOUISE PUNTER CEO Surrey Chambers of Commerce

MAXINE REID-ROBERTS Managing Director Quantuma

LESLEY ALCOCK Commercial Director The Platinum Media Group

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MAARTEN HOFFMANN CEO/Publisher The Platinum Media Group

ALISON JONES Partner Kreston Reeves

FIONA SHAFER Managing Director MD HUB

ZOE RUDLING Partner RSM

FIONA GRAVES Events Director The Platinum Media Group

welc ome

FROM ROSEMARY FRENCH OBE Chair of the Dynamic Steering Committee ROSEMARY’S OBE WAS AWARDED FOR SERVICES TO WOMEN IN BUSINESS

The Imposter Syndrome suffered by so many women is discussed in this month’s edition.

The women that I mentor continue to talk about their strong feelings of not being ‘good enough’ and that they will be ‘found out’; that others will think they are incompetent, or at the wrong level of seniority or even a fraud.

So much of my mentoring time is taken up boosting confidence which repeatedly declines between sessions. It’s almost as though these women cannot hold on to their obvious strengths, and succumb to self-doubts. It saddens me because we can still trace this back to our education and culture. Women are expected to conform; to not stand out; to comply, not to challenge and to stay quiet, and not to speak up.

I then reconsidered my own position and realised that I also still have my own self-doubts about my ability - despite my 44 years of business experience. I can be confident in so many scenarios and yet I still do not introduce myself socially to strangers as a businesswoman. It often takes my husband to beef up my credentials because he is so proud. Am I ashamed, embarrassed or do I just not want to stand out?

It has made me think.

The Dynamic Awards, the results of which are in this issue, go some way to conquering this problem, and build the confidence in women that you are good enough, you can do it and you should be proud of your achievements.

Contacts PUBLISHER/EDITOR: MAARTEN HOFFMANN maarten@platinummediagroup.co.uk COMMERCIAL DIRECTOR: LESLEY ALCOCK lesley@platinummediagroup.co.uk EVENTS DIRECTOR: FIONA GRAVES fiona@platinummediagroup.co.uk EVENTS EXECUTIVE: SARAH GOLDSMITH sarah@platinummediagroup.co.uk TRAVEL EDITOR: TESS DE KLERK tess@platinummediagroup.co.uk HEAD OF DESIGN: MICHELLE SHAKESBY design@platinummediagroup.co.uk SUB EDITOR: ALAN WARES alan@platinummediagroup.co.uk

WWW.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.

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TOTALLY UNBELIEVABLE Millions of women in the US will lose the constitutional right to abortions, after the Supreme Court overturned its 50-year-old Roe v Wade decision.

The backwards, male-dominated, Trump-manipulated US Supreme Court, which should obviously be abolished without delay, has decided what women can, and cannot, do with their bodies, on pain of a jail term.

In Texas, for example, it’s up to life in prison and a bounty of $10,000 for anyone that reports an abortion. Word has it that the next thing they will look at is gay marriage and birth control! Can you spot the difference between US Christian fundamentalists and Islamic fundamentalists - no, me neither. Taliban for congress…?

The only vague solace we can take from this is that it could never happen in the UK, as we would simply not put up with it, the protests would block every city and the government would be out. In the US, it is fractured into 50 states and each have huge power to frustrate federal government and ’trigger’ laws. Don’t break up the United Kingdom!

{up f r o n t } All the latest bulletins from the world of business

BOILED EGG SYNDROME We need to accept that we won’t always make the right decisions, that we’ll screw up royally sometimes – understanding that failure is not the opposite of success, it’s part of success Arianna Huffington

She is the founder of a bank valued at about £2bn, but getting people to believe in her idea was not easy.

Anne Boden said in her career, she has often been the only woman in the boardroom. “Nobody believed me, now my business is worth £2bn.” She said women were perceived as either being too soft or too hard, what she termed as ‘boiled egg syndrome’.

Ms Boden, from Swansea, founded Starling Bank, which operates solely online, after becoming disillusioned with the banking industry but getting people to invest in her idea proved tricky.

Who’s laughing now?

BRAIN DRAIN American Ivy League universities, such as Harvard and Yale, are capitalising on the fact that Oxbridge universities are discouraging students from private schools in a drive to increase diversity within the UK’s top universities.

Oxbridge now consider the applicants’ social background, in a process called ‘contextual admissions’, to encourage more state school students to come forward. This has left some of the best and brightest of the UK’s young talent to be plucked by the US Ivy League, with the possibility of never returning, and the best will immediately be offered jobs in the US. The UK race to the bottom continues.

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GP HEAD HARASSED The first female doctor to lead England’s GPs allegedly faced sexist comments and poor conduct at the British Medical association that led to her taking long-term sick leave. Dr Farah James took up her post as chairwoman of the BMA’s GP committee last November but went on sick leave in March this year. Various women have quit the union over the years due to a culture of sexism, claiming they were belittled, harassed, groped and propositioned.

WOMENS HEALTH TSAR Dame Lesley Regan, professor of obstetrics and gynaecology at Imperial College London, has been appointed England’s first women’s health ambassador. She will oversee a forthcoming government health strategy for women. Professor Regan, 66, said: “This is an important opportunity to get it right by addressing the inequalities across society.”

Find the smartest people you can and surround yourself with them Marissa Meyer, CEO of Yahoo!

BEST LOCATIONS FOR FEMALE-LED BUSINESSES

Small business insurer Simply Business has revealed the most common locations for female-led businesses across the UK.

The new research found that London remains the small business capital, with the greatest number of femaleled businesses of the UK’s biggest cities. Birmingham and Leicester followed close behind, indicating that the Midlands Engine is creating an environment that supports female entrepreneurs.

1. London 2. Birmingham 3. Leicester 4. Liverpool 5. Bristol 6. Edinburgh 7. Manchester 8. Glasgow 9. Exeter 10. Sheffield

Simply Business analysed over 425,000 small businesses across over 1,000 different trades on their customer base and found that accountancy was the fastest growing type of business for female entrepreneurs, with 16 times the number of female-run accountancy businesses in 2017 than there were in 2014.

They also looked at the most popular types of business owned by women, with business consultancy appearing high on the list alongside trades like hairdressing and cleaning.

Other trades appearing in the top ten of femaleowned businesses were IT contractor and market trader, reflecting the diverse range of career paths chosen by female entrepreneurs today.

Glasgow l

l Edinburgh

Liverpool l l Manchester l Sheffield Birmingham l

l Leicester

l Bristol

l London

l Exeter

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FI NA NCE

Alison Jones, Partner at Kreston Reeves, offers some practical advice for the unsettled economic times ahead

STORM AHEAD? The UK economy shrank in April 2022, contracting by 0.3% after a previous drop of 0.1% in March. The figures published by the Office for National Statistics (June 13th) show all main areas of the UK economy – services, manufacturing and production have shrunk for the first time since January 2021.

Whilst the drop in output in all areas has surprised many in the City, there is no doubt that there will be some more difficult times ahead if this trend continues. There are, however, practical steps that all businesses can take to prepare for what may lie ahead.

They say that ‘cash is king,’ and cashflow management must be the number one priority over the coming months. Effective cashflow management will enable businesses to weather any disruption as best they can to be in a stronger position to grow in the future.

There are other steps that you should also consider:

1

CUT NON-ESSENTIAL EXPENDITURE Review your current business plans and cut out any non-essential expenditure immediately. It may be that these plans can still happen; they are simply deferred. However, until you have undertaken more detailed scenario planning and have a clearer understanding of how long this economic uncertainty could last, then current spending should be limited to just essential items. But be careful that you don’t drop your marketing budget so low that everyone forgets about you!

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2

SCENARIO PLANNING Prepare short-term cashflow forecasts based on different scenarios that your business may face in the coming three, six and 12 months. The details of these scenarios will be dependent on your sector and business model.

The likelihood is that none of the scenarios you plan for will come to fruition. However, the process of looking ahead and preparing these forecasts will focus your attention to critical areas and will allow your thinking to be more agile, and to make quicker decisions as the economic environment changes.

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SPEAK TO YOUR SUPPLIERS AND CREDITORS Now, more than ever, it is vitally important to have open and honest conversations with your suppliers and creditors. Some may be having similar concerns to you, so may not be able to extend payment terms. However, being transparent and open with them now, will hopefully build stronger bonds and continued relationships.

It may also be necessary to consider reducing credit terms for customers who are slow to pay, or are in a more precarious position, in order to accelerate cashflow and minimise risks to your business.

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SPEAK TO YOUR LENDERS Ensure that you are clear about the message you wish to give to a lender before you approach them. Cash conservation is a key strategy for many businesses during tough economic times, but there is also the impact of inflation to consider in the longer term.

Lenders will wish to see businesses continue to thrive and should be empathetic to customers who are taking sensible strategies, so prepare cashflow projections before any discussions with your bank or lender.

We are always there to support you if you need help in preparing these projections.

FI NA NCE ◗ Bad Debt Relief – Have you claimed Bad Debt Relief (although remember these rules also require you to pay back VAT to HMRC if you haven’t paid a supplier invoice)? ◗ Applications for Payment – You can assist your sales VAT cash flow by issuing Applications for Payment for ‘continuous supplies’ rather than full VAT invoices, so that VAT is due when you are paid by customers. ◗ Alternative Evidence claims – Have you paid VAT you cannot claim due to a lack of an invoice? Consider alternative evidence claims. ◗ Cash Accounting Scheme – Can you switch to the Cash Accounting Scheme to delay VAT due (although this also affects the ability to claim VAT on purchases)? ◗ Customs Duty savings – Have you paid the right amount of Customs Duty? Or is there a more appropriate, lower, rate for the goods imported? ◗ Overseas VAT costs – Have you incurred VAT overseas you haven’t recovered? Is it worth making a claim? ◗ Move to monthly returns – If you receive regular repayments, are you on monthly VAT returns?

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We saw a huge amount of creativity from businesses of all sizes during the pandemic, and that might be needed again

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MAKE USE OF HMRC’S TIME TO PAY FACILITY Any business with outstanding tax liabilities (e.g. PAYE, VAT, Corporation Tax) may be eligible to receive support in deferring any payments due to HMRC for a limited period. It is aways better to be upfront with HMRC if you are having issues. Each request is reviewed on a case-by-case basis and the tax payer needs to contact the HMRC Covid-19 Helpline on 0800 024 1222.

BE CREATIVE We saw a huge amount of creativity from businesses of all sizes during the pandemic, and that might be needed again. It is likely you will have a loyal clientele and there might be various ways you can continue to sell to them to provide immediate cash for your business. Consider special offers, loyalty schemes and larger discounts for up-front payment.

Running your own business is tough but it shouldn’t be lonely, so do get in touch to discuss how my team can help you to prepare for whatever lies ahead. We are in this together.

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ARE YOU PAYING THE RIGHT AMOUNT OF VAT? Depending upon the basis of your VAT registration, some of the tips below from our VAT Director Colin Laidlaw may help you. ◗ Maximise the VAT you are entitled to – Are you recovering all the VAT on expenditure, such as staff expenses? ◗ Ensure reliefs are identified – Are you paying VAT on expenditure (or income) you shouldn’t be? Are there reliefs available?

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

Visit www.krestonreeves.com or call us on 0330 124 1399.

9

BIG

STORY

In early 2016, it would have been highly unlikely that Nazanin Zaghari-Ratcliffe, Iranian-born, but later with Iranian-British dual citizenship, would have thought that she would have been at the centre of a bizarre story of international petulance. It’s a story involving international arms dealing, accusations of espionage, imprisonment, a 40-year inter-governmental squabble, and a highly incompetent British Foreign Secretary. It’s also such a farcical story that the likes of Len Deighton or Frederick Forsyth would have struggled to write without feeling a sense of embarrassed incredulity. By Alan Wares

THE $600 MILLION WOMAN Nazanin Zaghari was born in 1978, and brought up in Tehran. She studied English literature at the University of Tehran, before becoming an English teacher.

From 2003 onward, she worked as a translator at the Japan International Cooperation Agency in the aftermath of the Bam earthquake in southern Iran. She also worked for the International Red Cross and Red Crescent Societies, and the World Health Organisation.

She moved to London in 2007, and met Richard Ratcliffe. They married in 2009 and she took on his name while keeping her own. While in London, she worked for BBC World Service and Thomson Reuters Agency, both in administrative capacities.

ARREST

In 2016, Zaghari-Ratcliffe, who by now had dual citizenship - a concept Iran does not recognise - had returned to Iran to visit her family for a holiday to celebrate Nowuz (New Year). When travelling to Iran she would do so on her Iranian passport, as required by Iranian law. She used her British passport for all other international travel.

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She was arrested on April 3rd 2016 as she was about to board her flight back to the UK. At first, the reason for her arrest was not made clear. Hardline elements within Iran believed the BBC was a tool for British espionage and her time at the BBC World Service, which also helped train journalists, was enough for some within the Iranian judicial system to convince themselves that she was a spy.

In early September 2016, ZaghariRatcliffe was sentenced to five years in prison for allegedly plotting to overthrow the Iranian government. The prosecutor general of Tehran stated in October 2017 that she was imprisoned for running “...a BBC Persian online journalism course which was aimed at recruiting and training people to spread propaganda against Iran”.

In March 2019, the British Foreign and Commonwealth Office (FCO) granted Zaghari-Ratcliffe diplomatic protection, raising the status of her case from a consular matter to a dispute between the two governments. Iran argued the designation was contrary to international stating “Governments may only exercise such protection for own nationals. Iran does not recognise dual nationality.

BIG

STORY

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BIG

STORY

She was released on licence in 2019, and went to live with her parents, but had to stay within 300 metres of their house; effectively she under house arrest. She was allowed video conversations with her husband and children, while also being given a number of broken promises regarding her permanent release.

She was released in March 2021 at the end of her sentence, but this was not before - in late 2020 - the Iranian courts concocted a further set of accusations against her. She was found guilty in a court, without British observers, of propaganda activities against the Iranian government and sentenced to one year in prison, and banned from leaving Iran for a year.

By way of clarification, her lawyer said that she had been accused of taking part in a demonstration in London in 2009, and giving an interview to the BBC Persian service.

BORIS JOHNSON

The main part of Zaghari-Ratcliffe’s defence against her accusers was that she was there on a holiday, and had never worked to train journalists in the country.

However, on November 1st 2017, the then-Foreign Secretary, Boris Johnson, not normally noted for his diplomatic skills, made a statement in a Commons select meeting, that, ”When we look at what Nazanin Zaghari-Ratcliffe was doing, she was simply teaching people journalism, as I understand it, at the very limit.”

These remarks were exactly at the cornerstone of Iran’s charges against her, and completely at odds of who she was, and what she was doing. They also appeared to have put her at further risk, prompting widespread condemnation from nearly all quarters.

The Thomson Reuters Foundation, her employer, called on Johnson to “immediately correct the serious mistake he made” in this statement.

They added “She is not a journalist, and has never trained journalists at the Thomson Reuters Foundation”.

BBC Media Action – as the World Service department she was working in was now called - described her role there as “junior and purely administrative.”

Four days later, at an unscheduled court appearance, the Foreign Secretary’s statement was used in evidence against Zaghari-Ratcliffe.

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ARMS DEAL

Not one piece of evidence was ever presented to Zaghari-Ratcliffe, and no official charges were ever made public.

So why was Iran behaving like this?

In 1971, the UK signed a deal for Iran – then led by the Shah - to purchase Chieftain tanks and other armoured vehicles. Iran paid £650m for its new weaponry. When the Shah’s regime fell in the Islamic Revolution of 1979, the UK (and US) cancelled the undelivered part of the order. The new Islamic regime asked for a refund on the undelivered tanks. Since then, and for the past 40-plus years, the two governments had been in a legal dispute over payments, with Iran demanding – with interest - a £400m repayment from the UK. In January 2016, the United States refunded Iran $400 million for undelivered military equipment which was associated with the release of four

The Foreign Secretary’s statement was used in evidence against Zaghari-Ratcliffe

Iranian-Americans. At the time, it was perceived to be a precedent for ZaghariRatcliffe’s situation.

As such, it was felt that Iran was using individuals as bargaining chips against western governments to repay old debts. For their part, the UK and Iranian governments both feverishly denied any link between the pay dispute, and Zaghari-Ratcliffe’s prolongued incarceration.

Given his seniority in government status even at the time, this then raises the questions - was Boris Johnson merely acting his ill-informed, ignorant self, or was there something more sinister in his statement?

Given the facade Johnson has put up in the past of his loveable, dithery buffoon; challenging the tired cliche of the dull, grey politician - a facade that has clearly slipped off and slid down the gutter - it’s difficult to tell whether we are talking conspiracy or cock-up here.

Maybe 10 years ago, he could have got away with it being a ‘gaffe’. It was a bad one, but a ‘gaffe’ nonetheless.

Today, though - it’s not a massive leap of credulity to believe that something more nefarious was at play.

BIG

The Foreign Office spokesman at the time said the remarks “provide no justifiable basis” to bring further charges against Nazanin Zaghari-Ratcliffe.

Whilst undoubtedly true, given Iran’s behaviour in this matter up to this point, it was completely the wrong thing to say at the wrong time. Naturally, he has never apologised for this remark.

For years, Richard Ratcliffe believed that there were elements, indeed a whole government department, who wanted to block payment to Iran at any cost. The fact the Zaghari-Ratcliffe spent six years in prison points at an ambivalence of the UK’s diplomatic and foreign players towards its own citizens.

In truth, Zaghari-Ratcliffe’s incarceration was, of course, a farce - devoid of legal, humanistic or intelligent merit.

The United Nations, US Congress, the Canadian Parliament and the European Parliament were among those calling for her immediate release.

Even then, before coming home, Zaghari-Ratcliffe was forced to sign a false confession, admitting her espionage and conspiracy crimes. She did so, but let everyone know she what she had done, and why she has done signed - effectively nullifying any credibility in her ‘confession’.

Upon her arrival back in the UK after six years away, Zaghari-Ratcliffe said in a press conference that returning home was “precious” and “glorious”.

Nazanin doesn’t owe us gratitude: we owe her an explanation

STORY

However, in an unusual, but highly appropriately robust statement – one where the usual sense of appreciation and diplomacy has been clearly dismissed – she criticised the UK government’s response to her imprisonment.

“I have seen five foreign secretaries change over the course of six years.

How many foreign secretaries does it take for someone to come home? We all know… how I came home. It should have happened exactly six years ago.”

She was arrested on fabricated charges, disrespected as a woman and an individual, turned into a political pawn by two governments, had the vast majority of her human rights abused, held in prison for six years for no legal reason, became the victim of a major diplomatic goof, left to rot by certain elements of the UK Establishment, and finally brought home after the settlement of a disputed 40-year old debt.

Upon her release, former foreign secretary, Jeremy Hunt, one of the foreign secretaries Zaghari-Ratcliffe was referring to (alongside Philip Hammond, Boris Johnson, Dominic Raab and Liz Truss), eventually admitted, ”Nazanin doesn’t owe us gratitude: we owe her an explanation.

She’s absolutely right that it took too long to bring her home.” Well, as she points out, he was one of those who had it within his power - and if he didn’t, what was he doing in that role?

Considering what she has been through, her response was exceptionally dignified.

RELEASE

On March 16th 2002, Liz Truss confirmed that the UK had paid Iran £393.8m for back repayments, in what she referred to a ‘parallel issue’ - in flat contradiction to statements previously released by the FCO. That same day, Nazanin Zaghari-Ratcliffe was released by the Iranian courts.

Other factors which have been described as contributory to her release included her family’s campaigning, Britain’s focus on the issue and an alignment of interests between the two countries during the Russian Invasion of Ukraine. A cynic might argue that the release of Zaghari-Ratcliffe was merely a convenient happenstance that the Foreign Office could later congratulate themselves on.

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Samantha Kaye from Wellesley discusses how income protection and critical illness insurance can help to keep things on track in case of a personal emergency

GETTING AHEAD OF THE CURVE

Protecting your finances now protects your future, too!

By now, we all know that even the most carefully laid plans can go awry due to circumstances beyond our control – most notably in recent years, Covid-19, and more recently, the costof-living crisis and a 40-year UK inflation high of 9.0%.1 Due to this, many of us are reviewing our finances and expenses, and looking to reduce costs where possible. Unfortunately, this then leaves us with even less capacity to cope with the financial consequences of unexpected events closer to home, such as illness, bereavement, accidents and unemployment. These issues can be exacerbated further if you run your own business.

Knowing this, it’s even more difficult to face the fact that almost eight in 10 have no income protection insurance in place, while 75% have no critical illness cover.2 Ladies, we need to change this.

You can find comfort in knowing that there are a variety of protection insurances available

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PROMOT IONA L READY FOR ANYTHING

Though it’s not my intention to convince you to think the worst, I strongly believe that being prepared for any outcome is the best way for us to look after our family, possessions and careers in the face of illness or unemployment. It’s because of risks like these that protection insurance policies like income protection and critical illness insurance are so invaluable.

If, one day, you find yourself unable to work due to illness or an accident, income protection will help cover outgoings like mortgage repayments, rent, bills and other household essentials. It typically pays out between 50% and 65% of your income after a pre-agreed deferral period (usually three to six months) has passed, and most policies will do so for as long as needed.

Upon the diagnosis of certain specified critical illnesses or medical conditions, critical illness insurance will pay out a lump sum to offer you peace of mind.

A HELPING HAND

Hopefully you can find comfort in knowing that there are a variety of protection insurances available, and knowledgeable experts out there to help you decide which policy type is best for you and your personal circumstances – considering exactly what your potential difficulties are and the cost of different insurance types. Protecting your finances now prepares you for any outcome in your financial future – and future generations of your family, too.

What’s more, it’s easier than we think to fall into the trap of only

FE AT U R E

thinking about the short term when facing times of stress, especially when there’s no one to offer an outside perspective. This is where speaking to a professional financial adviser can help the long term seem far less overwhelming.

An adviser can help you see past your concerns and develop a plan for your personal financial future if things do take a sudden turn, helping you feel confident and in control – meaning you can spring forward into the future, and embrace it.

If you’d like to talk through your options and find the best course of action for your personal circumstances, please contact me today for a noobligation chat.

Sources: 1 Consumer Price Inflation, UK: April 2022, Office for National Statistics, May 2022 2 Scottish Widows UK Household Finance Index, Scottish Widows, April 2022 (Based on a survey sample size of 4,500)

Protecting your finances now prepares you for any outcome in your financial future – and future generations of your 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.

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.

◗ Samantha Kaye Chartered Adviser Wellesley House, 50 Victoria Road, Burgess Hill, West Sussex RH15 9LH T: 01444 849809 E: samantha.kaye@sjpp.co.uk www.wellesleywa.co.uk

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The Dynamic Business Awards celebrate the remarkable achievements of businesswomen across Sussex and inspire the next generation of female entrepreneurs.

The inaugural event was held on June 29th at the Grand Hotel Brighton and was attended by over 450 business leaders from across the South East, to celebrate the success of the winners. It was a remarkable event with a thought provoking opening video

by Sex in the City actress, Cynthia Nixon, superb performances

by Robyn T Green, inspiring keynote talks by Rosemary French OBE, former CEO of the Gatwick Diamond Initiative and Kirsty Sadler, Regional Director of Lloyds Banking Group.

Congratulations on organising a superb event last night!

The atmosphere was electric with an utterly positive vibe from start to finish Aneela Rose, CEO, Rose Media Group

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Newsreader and the first ever Strictly Come Dancing winner, Natasha Kaplinsky hosted the event and at the finale, celebrity tailor Gresham Blake made one lucky winner’s evening by offering a hand-made, bespoke suit for the winner of the Rockinghorse Children’s Charity raffle, with a value over £2,000.

What a fantastic evening and in 2023, there will be three heats in Sussex, Surrey and Hampshire and then a Grand Final to crown the South East winners.

Congratulations to all the finalists and winners.

WWW.PLATINUMMEDIAGROUP.CO.UK PROUDLY SUPPORTED BY

INNOVAI ION

&API I AL

Thank you for a splendid evening at The Grand last night.

Please pass on my appreciation to the whole of your team for a superbly professional evening Peter Collier, Director, Mattioli Woods Wealth Management

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WOW, what a great evening celebrating some incredibly wonderful and talented women – hats off to you and the Platinum team for putting on such a fantastic event Donna Holland, CEO, Rockinghorse

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❛❛ Thank you again for organising an excellent

evening for the Dynamic Awards, our guests very much enjoyed themselves, the food was excellent and the celebratory vibe very high Fiona Shafer, MD, MDHUB

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@PLATBUSMAG #DYNAMICBUSINESSAWARDS

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il d

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Proud to support

r e n ’s C h a

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MAGA ZINE

THE 2022 WINNERS

I just wanted to say that I thought the awards were really great.

Expertly organised as ever.

You guys are really good a this.

You should do it for a living!

Nigel Lambe, CEO, Sussex Innovation Centre

CSR Excellence Award

Inspirational Award

Sponsored by MDHUB JULIE KAPSALIS Coast to Capital LEP

Sponsored by Kreston Reeves ANEELA ROSE Rose Media Group

Creative Industries Award

Employer of the Year

Innovator of the Year

Sponsored by Loch Associates Group JOANNA HASLAM Snap Finger Click

Sponsored by Bailey & French CARDENS ACCOUNTANTS AND BUSINESS ADVISORS

Sponsored by BRITE CAROLINA AVELLANEDA BubbleLife

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Lifetime Achievement Award Sponsored by Sussex Innovation ROSEMARY FRENCH OBE

Businesswoman of the Year Sponsored by DMH Stallard RACHEL WATKYN Tiny Box Company

WWW.PLATINUMMEDIAGROUP.CO.UK

Community Hero Award

HR & Recruitment Award

Start-up of the Year

Sponsored by Legal & General RIFA THORPE-TRACEY Refigure

Sponsored by Crest Leadership Coaching VICKI TAGGART Haybury

Sponsored by BIPC Sussex Watch This Sp_ce

Lawyer of the Year

Young Professional of the Year

Company of the Year

Sponsored by Capital Innovation Team PAM LOCH Loch Associates Group

Sponsored by Rockinghorse EKATERINA BLAKE InspoHub

Sponsored by Wellesley ALEX BAILEY Bailey & French

The Dynamic Award Sponsored by Dynamic Business Magazine TAMARA ROBERTS Ridgeview Wine Estate

you so much ❛❛for Thank your hospitality at

the Dynamic Awards.

It was genuinely an honour to attend such a fantastic, professional event and delighted we are sponsoring the next one Kirsty Sadler, Regional Director, Lloyds Banking Group

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FE AT U R E

Sheryl Sandberg announced on June 15th that she will step down from her role as chief operating officer of Facebook, after 14 years as one of the most powerful figures at a company that transformed Silicon Valley

THE ONLY ADULT IN THE ROOM During her time at Facebook, now Meta, she saw the company through a meteoric rise and an ongoing storm of controversies.

Sandberg herself transformed into a controversial figurehead for corporate feminism following the release of her book ‘Lean In’, which became a seminal manifesto for women in the workplace.

Facebook, with Sandberg as one of its most public faces, has weathered

scrutiny over the Cambridge Analytica breach, the January 2021 attack on the US Capitol, and most recently documents leaked by the whistleblower Frances Haugen that revealed some of the platform’s most toxic impacts.

“While the scandals have created a mixed legacy for the executive, her mark on the business of Facebook – and the entirety of the social media industry – is undeniable,” said Debra

I want every little girl who’s told she’s bossy to be told instead that she has leadership skills

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CREDIT: WORLD ECONOMIC FORUM

Williamson, an analyst at Insider Intelligence, who has been following the company since its founding.

“There have been plenty of controversies surrounding Meta, but from a purely business standpoint, what she built at Facebook is pretty powerful, and will go down in the history books,” she said.

Sandberg joined Facebook four years after its founding to be ‘the adult in the room’ of a young company and strategise the monetisation of its growing user base. She helped revolutionise its advertising business model, turning the company into the juggernaut it is today with $117bn in revenue in 2021. In 2008, when she began, its yearly revenue was just $200m, according to Insider Intelligence.

“She will be remembered not only for her business legacy, but also her time as a public figure for the company,” said Scott Galloway, a professor at the New York University Stern School of Business.

A truly equal world would be one where women ran half our countries and companies and men ran half our homes Sandberg has on a number of occasions testified in front of Congress to answer for Facebook’s missteps; taking the stand to deflect blame from the company for the Capitol riots; allegations of voter manipulation in 2016; and acting as a softer and more personable foil to the stoic CEO, Mark Zuckerberg.

“Her primary role has been the most effective and expensive likeability shield in history,” Galloway said.

“Through her, Facebook invented what I call a nuclear weapon of mass distraction.”

In her absence, there are likely

going to be more public statements from up-and-coming Meta officials, including its head of global affairs, Sir Nick Clegg, and Instagram CEO, Adam Mosseri.

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FI NA NCE

Whilst having made strides in workplace equality, women have left the workforce at disproportionally higher rates during the pandemic (as part of the phenomenon known as the Great Resignation), and wage inequality has continued, writes Dr. Margrét Vilborg Bjarnadóttir, Founder of PayAnalytics

USING TECHNOLOGY TO ACHIEVE PAY EQUITY As last year marked the 50th anniversary of the UK Equal Pay Act, these issues are shining a renewed spotlight on pay equity. Furthermore, in the post-Covid era, organisations are reimagining how and where work gets done. Changes are also being made to legal codes worldwide, requiring increased transparency related to pay equity.

Altogether, people analytics, the field that applies quantitative tools to the employee value chain, needs some thoughtful reimagining which requires the right tools to identify biases and gaps in our data we use, make recommendations to correct those gaps, and ultimately remove them. With the right tools, supported with the right data, we can bring about workplace transformation and pay equity.

HOW GOOD DATA AND TECHNOLOGY CAN SUPPORT EQUITABLE WORKPLACES

Whilst currently being used to support human resources (HR) professionals in their recruiting, retention, promotion, and compensation data and decisions, AI’s ability to be fair, robust, and secure depends on the quality of the data it uses, the assumptions that underpin its systems, and the AI model itself.

However, this retrospective data often reflects both old and current biases that will not fully support complex people management environments, diversity initiatives or reimagined workplaces. AI should help us broaden our talent pipelines, not narrow them down to candidates like those we have hired in the past.

In this context, most AI models

With the right tools, supported with the right data, we can bring about workplace transformation and pay equity

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perform best with individuals in majority demographic groups and worse with those in less well-represented groups. Typically, algorithms maximise overall accuracy, so performance for the majority population carries more weight than performance for the minority population in determining algorithm parameters.

For instance, say that an algorithm gets its data from employees who are either married or single, and childless.

The algorithm might then predict that an employee who takes more personal days is more likely to quit. Yet, this prediction may be very untrue for a single parent needing time off to care for their child. This means that when we develop AI for people analytics, we need to understand the nuances of different groups within an organisation.

In the context of pay equity, PayAnalytics has extensive subgroup analysis abilities that can help companies measure and close the pay gap separately for each group of employees.

It is tempting for companies to simply assume that dropping demographic information from their AI applications will make their models ‘demographically neutral’,

It is crucial to remember that no model is complete

even if gender is not part of the model’s criteria. Hence, to avoid making biased decisions, it is pivotal for HR professionals to pay attention to who is represented in the data, remain aware of the limitations of AI-based models, and monitor the model’s application across demographic groups.

TACKLING THE BIAS ‘ethnicity blind’ or ‘gender blind.’ This is a serious oversight as demographic characteristics are correlated with other variables and will not vanish just because they were dropped. In contrast, studying how demographics (like gender) affects our model’s performance helps us understand our blind spots and fix them.

Moreover, if demographic categories are not evenly distributed throughout the organisation, which is almost always the case, even carefully built models will not lead to equal outcomes across groups. For instance, if most managers in the past have been male, the model might identify male candidates as more likely to be suitable for management jobs. The model would then be more likely to misclassify women as unsuitable for these jobs –

It is critical for people analytics to have structures to ensure that the data collected delivers the most beneficial decision support. One common tool is a bias dashboard. It summarises how the people analytics tool performs across different groups, allowing for early detection of potential bias.

Furthermore, it can highlight both statistical performance (e.g., the tool’s accuracy for different groups) and the tool’s application impact across groups.

For instance, in a hiring support application, the dashboard can summarise the potential applicants ‘poked’ on different sites (e.g., LinkedIn) as well as the proportion of each group that applied, received an interview, and was ultimately hired.

Managers can also explicitly test for bias. This involves studying how individual features, such as experience

or training, contribute towards pay increases for different groups through the annual review process. For instance, managers should analyse the outcomes of the annual review by demographic group. If gender is highly correlated with outcomes that lead to salary increases, there may be implicit bias in the decision process.

Further investigation will then help managers either realise that there is bias in the AI tool or identify an important, previously unidentified underlying factor associated with employee performance.

It is crucial to remember that no model is complete. For instance, there exist additional factors that are rarely quantifiable, such as an employee’s interpersonal skills. Users of people analytics must learn how to systematically include them in the decision-making process. If there is quantifiable data related to these factors, they should consider collecting it. Even though algorithms can help interpret past data and identify patterns, people analytics is still an area where humans are central to decision making. So the final decisions, and the responsibility for these decisions, rest with humans.

AN IMPORTANT JUMP TOWARDS THE GLASS CEILING

PayAnalytics, a people analytics tool, has revolutionised the scientific and practical approach to pay equity. It provides a real-time overview of the salary structure, the steps needed to reduce the gaps, and recommendations to make sure the gap remains closed.

To optimise this product, companies will need to consistently monitor how the application is working in real time, what explicit and implicit criteria are being used to explain salary differences, and whether the outcomes of the tool’s recommended decisions reflect biases or omitted factors.

To create truly equitable workplaces, managers must learn to ask the right questions about their data, their decisions, their quantitative models, and their software. In the context of the Great Resignation and the reimagination of today’s workplaces, it is even more important to make sure we are compensating employees appropriately.

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Don’t underestimate the difference a single night’s quality sleep makes. By Tess de Klerk

OH, SWEET SLUMBER! There has been an increase in awareness over the past few years of the importance of sleep in maintaining good health and, in the long run, quality sleep may reduce the risk of developing everything from diabetes to Alzheimer’s disease. Additional good news is that studies have found that sleep tends to provide many benefits in the very short term as well.

Here are four ways in which even one night’s worth of quality sleep may improve cognitive function.

1

BALANCED EMOTIONS Sleep plays a role in strengthening emotional regulation, according to fascinating studies conducted over the past several decades. Unfortunately, a lack of sleep may bias our emotional state toward the negative. Participants were shown photographs after five nights of sleep restriction and after five nights of adequate sleep in a study from 2020.

People who were sleep-deprived viewed positive and neutral images as more negative when compared to when they got a good night’s sleep. Sleep deprivation has been associated with

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changes in the amygdala, a critical brain centre for emotional processing.

In fact, several of these alterations have been observed after only one night of sleep deprivation.

2

INCREASED CREATIVITY We’ve all heard stories and perhaps experienced for ourselves, waking up with a sudden flash of insight and inspiration. Now, scientific evidence shows that the link between creativity and sleep is more than just anecdotal.

Sleep aids in creative problem solving, and it’s possible that REM and nonREM sleep both play a complementary part in this process.

Sleep has been linked to enhanced

…scientific evidence shows that the link between creativity and sleep is more than just anecdotal

H E A LT H

TIPS FOR BETTER SLEEP ◗ Exercise during the day. It has been proven over and over again that physical exertion during the day helps in falling and staying asleep during the night. For me, this is the most sure-fire way of getting my eight hours. ◗ Avoid alcohol, caffeine and heavy meals in the evenings.

This is easier said than done, but that glass of pinot converts to sugar and interrupts your slumber. ◗ Be consistent. Go to bed at the same time each night and get up at the same time each morning, including over weekends. ◗ Make sure your bedroom is quiet, dark, relaxing, and at a comfortable temperature. ◗ Away with electronic devices. Remove phones, tablets, laptops etc from the bedroom at least 30 minutes prior to bedtime. These devices emit blue light which reduces the natural production of melatonin. Children are particularly vulnerable. ◗ Try one of these NHS recommended sleeping apps – Sleepio, Sleep Station, Pzizz.

insight into new ways of addressing problems, and it may be even more helpful for more thorny problems.

The subconscious plays a huge part in creative problem solving, and even one night of plentiful, quality sleep enhances our problem-solving abilities.

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IMPROVED MEMORY The enormous spectrum of brain benefits of sleep is continually being discovered by scientists.

The importance of sleep in memory formation, on the other hand, is unquestionably at the top of the list.

One of the key roles of sleep is the creation of long-term memory, a process that involves parts of the brain such as the hippocampus and cortex.

Though healthy sleep is known to have a variety of beneficial impacts on memory, its role in consolidation (the conversion of new memories into stable long-term memories) is thought to be particularly important.

Sleep deprivation has been linked to poor long-term memory in clinical investigations.

4

IMPROVED CONCENTRATION Trying to stay focused on any task after a lack of sleep can be difficult.

Researchers looked at the link between sleep and the ability to pay attention to detail, and discovered that not getting enough sleep decreases sustained attention, which is reversed after sleeping.

Furthermore, our failure to focus may make it more difficult for us to respond to changes in our surroundings. This could lead to everything from poor work performance to an increased risk of accidents. Correlations between the number of sleeping hours and capacity for concentration have been demonstrated in various studies but once again the positive effect of even one night of quality sleep

exceeded the expectations of researchers.

This might all sound obvious to those of us familiar with sleep deprivation but scientists and philosophers have for centuries pondered and debated what our brains do during sleep. Much is still unknown but researchers now have solid evidence that a good night’s sleep may literally clear the mind.

Researchers found that the space surrounding brain cells—called the interstitial space—may increase during sleep, allowing the brain to flush out toxins that build up during waking hours. Previous research shows that proteins linked to neurodegenerative diseases, including beta-amyloid, build up in the interstitial space.

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T R AV E L

PESKY TRAVEL SCAMS Recently a friend of mine returned from her travels having seemingly been scammed left, right and centre. She is by no means an inexperienced traveller, but vigilant she was not. Here’s a quick reminder of some of those scams easily succumbed to in the excitement of travel. By Tess de Klerk TAXI SCAMS AREN’T ALWAYS OBVIOUS

My worst taxi experience (and there have been plenty!) was in eastern Europe; freezing midwinter, dead of night with only my five year-old with me. I had called a cab through a reputable company to take us to the airport. There were two ways to the airport, the one well-lit highway and the other through the worst part of the city.

I started suggesting that he may want to take the other way when he drove toward the rough area but he explained that there had been an accident on the highway. Then, in the middle of probably the worst area in eastern Europe that I know of, he stopped, got out without a word, in the snow, and

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took our massive suitcase out of the boot before demanding that I give him all my money or he would leave us there!

I stayed in the cab, pulled out my pretend pepper spray, took a photo of

There are, of course, just about as many scams out there as there are people looking for a quick buck

his licence and started calling the police. Now I know that this could have gone really badly, but having taken a photo of his identity and starting to call the police seemed to change his mind, since he put our luggage back got in the driver’s seat and drove us to the airport. He was obviously an opportunist, but the thought of police involvement and knowledge of his identity stopped him in his tracks.

My number one tip here is to check that the driver has a photo taxi licence clearly displayed in his cab, that the driver is the person on the photo, and that there is a phone number for the taxi association on the licence. Then take a photo of that licence.

Always check that your intended ride has a meter and ask the driver if the meter is working before getting into the taxi. Before departing, check that the meter is on zero and check that it’s not moving unnaturally fast once you start driving. Better still, negotiate a fare beforehand.But clearly none of this would have mattered with my crooked cabbie that evening.

T R AV E L

My number one tip here is to check that the driver has a photo taxi licence clearly displayed in his cab

MENU PRICES IN CONFUSING MEASURES

This is mostly found in Greece, with some establishments in Mykonos being particularly fond of this tactic. It can leave you many hundreds of euros out of pocket. Such a place will normally try to lure you in by offering free sunbeds etc and being very persistent about it.

SORRY, THAT’S CLOSED

Another common taxi-related scam is when the driver tells you that wherever you’re going is closed. It might be your accommodation, restaurant, attraction, or wherever. Meanwhile, they’re in cahoots with other accommodation providers, restaurant owners and such, and they offer to take you to their alternative suggestion where they will receive a finder’s fee for taking you there. This can be especially damaging if you agree to be taken to accommodation that wasn’t of your choosing.

Menus will be given out quickly, and the waiter might have some reason why you should order ASAP but the real problem will be that the menu will display costs for confusing measures.

For example: fries costing €5 per 0.010kg! You can imagine what that might cost! And it’s legal! As long as prices are displayed on the menu, it is up to the establishment what they charge.

Never be pressured into ordering quickly and take the time to understand exactly what you’ll be charged for that Greek salad.

THE SPILL

You’re minding your own business when someone spills something on you, apologising profusely and before you know what’s happening, starts to wipe and dab the spill for you – while pickpocketing your valuables.

Quite often, it’s an accomplice doing the pickpocketing while you’re flustered and distracted. This oldie but goodie is still popular, in Europe especially.

If someone spills anything on you, react quickly by pushing any stranger in your personal space away and finding your exit - sharpish.

There are, of course, just about as many scams out there as there are people looking for a quick buck. And sure, there’s not much harm in losing a pound or two to the old lady offering you a sprig of rosemary and a blessing (I see it as part and parcel in supporting the local economy) but watch out for the real crooks!

If this happens to you, be firm but polite about where you want to go, and if they don’t want to take you, get out and find someone else who will.

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‘I–Spy’ v ‘War & Peace’ – back in the car 2022 30 top motoring tips for a happy holiday by Fiona Shafer As we arrive at the summer of 2022 with more post-Covid travel conundrums and disruptions, the appeal of a stay at home holiday in the UK or in Europe has become incredibly appealing (again) this year. And why not, I say?

How fortunate are we to live on such an amazing, varied and beautiful island, yet only a hop, skip and a jump away from Europe. With good planning and foresight, our own car journeys should be an integral and enjoyable part of our holiday experience.

The idea for this article stemmed from a review I read entitled “Riviera Children” in a May 1961 edition of The Motor magazine by Jacqueline Clerk.

It was a 56-hour trip to France with grandmothers packed in between the luggage (with a tiny gap to actually see out of the rear window) to look after a

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21 and 12 month old, was commented upon: “We have our London doctor to thank for recommending travel pills for our lap-borne passengers who cannot help getting the wriggles at the end of a day’s drive, despite vigorous games with father during coffee stops and the midday picnic break. The small amount of sedative in the pills is just enough to preserve their calm. It is worthwhile asking your Doctor for a tranquilliser….

So, might our iPads, mobile phones and Nintendo Switches be the 2022 equivalent for maintaining calm? And the worry of all of our charges running down, an addictive sign for us mere mortals?

If you are travelling solo, with friends or as a single Mum or Dad; or with your entire family including two sets of twins and dogs this summer, we hope that these top 30 tips from veterans of holiday car journeys will help you safely on your way ... and back.

MOTOR I NG

TOP TIPS 1. Trust the driver.

2. Travel with people you want to be with and actually like.

3. Research and plan your route more carefully than normal, especially if driving an electric or hybrid car for charging points. There are not as many as you think there will be.

The UK charging structure still has a long way to go.

4. Don’t just trust Sat Nav. Look at a real map before you leave or just take a map with you.

5. Plan to stop every two hours for a breather and a wee.

6. Take ALL OF your own food and drinks to save on exorbitant service station prices and to meet all vegan / plantarian / 1940s egg sandwich / Game of Thrones dietary needs.

7. Take an industrial size pack of wet wipes – for spills, thrills , dribbling and accidents.

8. Bring well charged iPhones, iPads and extra chargers.

9. Find out exactly where your wheel nut bolt is located – it is handy.

10. Check RAC / AA / recovery cover in forensic detail before you go.

11. Make sure your car is serviced, oil and water topped up and tyre pressures all good.

12. Take copies of insurance documents and licences.

13. Take a spare set of prescription glasses in the glove compartment (how quaint that now sounds, doesn’t it?) Many European countries require this by law.

14. Take really decent pillows or neck pillows and snuggly blankets. You can seriously wedge them against windows or one another. You know you have got it right when YOU don’t look like the iconic nodding dog on the parcel shelf, your car is blissfully silent, and you can see out of your back window.

15. Make sure child locks are well and truly on to avoid rear door opening at 60 mph.

16. The Pet Bit - take your four legged wonders on short journeys beforehand to get them used to longer journeys.

17. By law, dogs have to be harnessed, so another reason to get them used to car journeys in advance.

18. As with humans, take plenty of water, treats, extra poo bags and allow for ventilation.

19. Try giving your dogs scullcap and valerian tablets to stay calm. It might work on humans too…

20. Make contact with a vet in the area you are going to in advance to check out if anything going on in that area i.e lungworm. www.drivingwithdogs.co.uk

Under no circumstances play games like ‘I-Spy’.

They will cheat and it will cause arguments 21. Travelling with two sets of twins – Count down to key milestones;“yay, it’s only 18 miles to Bournemouth“ is better to hear than “it’s 180 miles to St Ives.” If they ask when you’ll be there, give them a ridiculous answer like Christmas - they soon get bored of asking.

22. Bring some satsumas. The oil in the skins cheers everyone up.

23. If you can drive overnight, do.

The kids are more comfortable in PJs snuggled up with a duvet.

24. Make a family road trip music playlist that everyone contributes to equally in advance. This stops arguments about what music to listen to.

25. Under no circumstances play games like ‘I-Spy’ and ‘who can spot the most yellow cars’ – they will cheat and it will cause arguments. This is controversial as this game can work better for fewer people in the car.

26. Car sickness and medication – check this out in advance, and seat fellow travellers accordingly, plus bring sick bags along too.

27. Going Solo -catch up on the peace and quiet that sacrosanct solo driving allows to just collect your thoughts.

A car can be an unusual and unexpected sanctuary.

28. Catch up on long overdue, precious phone calls to nearest and dearest who complain they never hear from you - especially the elders of your tribe. You might find out about their lives when you least expect to.

29. My absolute favourite for any journey but my thanks to Clare again for this – buy their silence! If they start getting annoying stick a fiver to the windscreen with blu tac and give it to the kid ( or adult )that stays quiet for the longest. I can think of quite a few adults that this would apply to too.

30. Bring a copy of War & Peace – you finally get to read it and, it is handy for loo paper if you run out. Sorry, Tolstoy – but needs must.

Without exception, all of contributors to this article said much they had and still do enjoy car journeys for their holidays even their offspring have said much they miss them.

So, go plan an adventure summer.

the how long and how this

◗ Email: Fiona Shafer: fiona@mdhub.co.uk

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