TAKING A FRESH LOOK AT SCOTTISH BUSINESS
MICHELLE MONE SHARES THE FIVE THINGS SHE WISHES SHE HAD KNOWN WHEN STARTING IN BUSINESS REDUNDANCY A LOOK AT THE WORKERS MADE REDUNDANT WHO ARE MAKING IT ON THEIR OWN
LADIES WHO LAUNCH MEET THE NEW GENERATION OF FEMALE ENTREPRENEURS
IN MY LIFE £4.25 WHERE SOLD
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ONLINE DRAGONS’ DEN PANELLIST SHAF RASUL SHARES HIS TOP TIPS
ISSUE 8 / 2010
NEWSTART
NEW START // ISSUE 8 // 03
IN THIS ISSUE COVER STORIES
31
FIVE THINGS
44
REGULARS
REDUNDANCY
24
SHAF RASUL
24 In My Life - Online Dragons’ Den panellist Shaf Rasul on Scotland’s future opportunities to entrepreneurs 31 Five things I wish I’d known - underwear tycoon Michelle Mone on the tips she wishes she had known 44 Redundancy - an opportunity in disguise? 36 Ladies who launch - Meet the new generation of female entrepreneurs
6 Letters - from you to us 7 News - keeping Scottish businesses up to date 12 Show news - Grab £30,000 to launch your business 32 Burning question - do you think Scotland has turned a corner? 51 Diary of an entrepreneur - Scott Morrison is taking on the lucrative hangover market 54 How to - get the most out of cloud computing 58 Review - the iPad, any good or just an oversized iPhone? NEW
62
SOCIAL SCENE
36
LADIES WHO LAUNCH
18
BREWDOG
New Start is published by New Start Exhibitions Ltd www.newstartexhibitions.com
16 Opinion - entrepreneur Doug Richard on the challenges that British entrepreneurs face 34 Business doctor - how can SME owners keep their best staff during the upturn? 47 There must be money - in recycling mobile phones 56 Eight ways to - cook up a winning startegy 60 What’s on when - a look at the Scottish events to help boost your business 62 Scotland’s social scene - a round-up of Scotland’s top awards, events and conferences AND THE REST 18 Brewdog - the controversial Scottish brewers on how they are trying to change the industry’s reputation 21 Dr Doom - why not invest in farmland and gold? 28 Making the most - of your ‘Eureka!’ moment 40 Quiz - which Eastenders character are you? 48 Foodieboxes - entrepreneur Peter McLean is re-launching food hampers 52 21 reasons - to turn to social marketing Editor Business Editor Contributors Newsdesk
Carrie Wallace - carrie@newstartexhibitions.com Sabina Kadic Paul Murricane, Jo-Anne Hamilton, Zara Porter 0141 242 2802
Advertising Manager
Christian Yandell - 0845 371 6950 christian.yandell@newstartexhibitions.com
Design
Point Creative - www.point-creative.com
Subscriptions - www.newstartscotland.com or call 0845 371 6950
NEW START // ISSUE 8 // 05
WELCOME NEW START SCOTLAND HOLDS THE COUNTRY’S LARGEST BUSINESS SUPPORT EVENT IN MARCH FOR A VERY GOOD REASON. BUSINESS THRIVES ON POSITIVE THINKING AND DECISIVE ACTION. AND THE BRIGHTER DAYS OF SPRING PROVIDE THE BEST ENVIRONMENT FOR THE ENTREPRENEURIAL SPIRIT. The recession? So last year. New opportunities? So this year. What successful business owner is ever driven to achieve great heights on the motto that ‘This year is fiscal consolidation year’? Leave that to the economists. New Start is about the doers, the people who create income and employment because they believe in getting the job done well. At New Start, and in this magazine, we bring together business people like you with the established organisations who know their main role is to help you succeed. This edition we take a look at the entrepreneurs of the future, the ones who will help grow the country’s economy in the years to come. Scotland has a long tradition of producing some of the best business brains on the planet - Kwik Fit founder Sir Tom Farmer, Stagecoach tycoon Brian Souter and Ultimo bra queen Michelle Mone. But who are the ones to watch for the future? Find out on page 14. For the past five years, the number of women launching their own business in Scotland has steadily been decreasing. But this is now changing. Female entrepreneurs are finally catching up to their male counterparts and now account for 38% of all businesses launched. This edition we meet the new generation of female entrepreneurs who haven’t let the worst economic conditions in 50 years put them off turning their business dreams into reality. Turn to page 36 to find out more. More than a year ago the then Business Minister, Baroness Shriti Vadera, caused outrage when she talked of seeing Green Shoots. Why are we happy to talk confidently of green shoots in the economy now? Because now the time is right. The Business Minister gave her quote in the dark days of January 2009. In business as much as in communication, timing is everything.
CARRIE WALLACE EDITOR
‘THIS EDITION WE TAKE A LOOK AT THE ENTREPRENEURS OF THE FUTURE, THE ONES WHO WILL HELP GROW THE COUNTRY’S ECONOMY IN THE YEARS TO COME. SCOTLAND HAS A LONG TRADITION OF PRODUCING SOME OF THE BEST BUSINESS BRAINS ON THE PLANET’
LETTERS
*
GOT SOMETHING TO SHARE? e-mail carrie@newstartexhibitions.com
LETTER OF THE MONTH
Dear New Start, RE: CHANGES TO BUSINESS RATES Historically, business-rates have been a disproportionate burden on Scottish small businesses. By continuing its work to develop a fairer rates system, the Scottish Government and the Finance Secretary have shown insight and are leading the rest of the UK. While the revaluation will always give us winners and losers, today’s announcement should see fewer small businesses losing out while making utility companies and supermarkets start to pull their weight. Rebalancing the rates burden has already had a tremendously positive effect on many firms north of the border, easing the cash-flow worries which could have driven thousands over the edge during the recession. Expanding the scheme will allow more firms to reap the benefits, giving them additional resources to trade the country out of the downturn, diversify their business or simply give them a little more breathing space. ANDY WILLOX FEDERATION OF SMALL BUSINESSES’ SCOTTISH POLICY CONVENOR
‘REBALANCING THE RATES BURDEN HAS ALREADY HAD A TREMENDOUSLY POSITIVE EFFECT ON MANY FIRMS NORTH OF THE BORDER, EASING THE CASH-FLOW WORRIES WHICH COULD HAVE DRIVEN THOUSANDS OVER THE EDGE DURING THE RECESSION.’
Dear New Start, RE: HORIZON FUND Lecturers’ leaders and university principals recently attacked the handling of the so-called Horizon Fund - a £110 million fund to boost innovation in Scottish higher education. We believe that the committee set up by the Scottish Funding Council to administer the fund lacks independence as it is led by just six officials – one of them the former Rangers FC chairman John McClelland. Our recommendation would be that instead, lecturers’ union, and university principals should be consulted for a more collaborative approach, ensuring that the views of the whole sector are taken into consideration through a transparent and robust process. Only then can we ensure that the millions of pounds from the public purse are used wisely to assist the nurture of university spin outs and new start businesses, which create new technologies and processes of economic significance, which transfer directly to the Scottish economy and keep us all going. HOWARD TEALE - GENERAL MANAGER, INDICIA TRAINING
Dear New Start, RE: OFFICIAL LABOUR MARKET STATISTICS The latest unemployment figures show that conditions in the UK labour market remain extremely weak and indicate that talk of the jobless rate having already peaked is premature. Moreover, separate analysis by the Office of national Statistics showing that 2.8 million UK workers are ‘underemployed’ shows that the headline jobless figures provide only a partial account of the full impact of the recession on the workforce. DR JOHN PHILPOTT - CHIEF ECONOMIC ADVISER, CHARTERED INSTITUTE OF PERSONNEL AND DEVELOPMENT
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NEWS
REDUNDANT WORKERS START UP ON THEIR OWN STEVE COOPER
RENE CARAYOL
OVER 40% OF NEW START ENTREPRENEURS SAY THEY HAVE LAUNCHED THEIR OWN BUSINESS AS A DIRECT RESULT OF BEING MADE REDUNDANT FROM THEIR PREVIOUS JOB, NEW RESEARCH FROM NEW START SCOTLAND HAS SHOWN. In an online survey of over 1,000 SME owners, 44% of fledgling Scottish entrepreneurs say after being made redundant, setting up on their own was the only option available to them. Here, Barclays Business MD Steve Cooper, along with business expert René Carayol, who will both be touring the country giving free, impartial business advice over the next few months, share their top tips for success. AVOID COMMON BUSINESS PLANNING MISTAKES SUCH AS POOR PRESENTATION AND A LACK OF REALISM. SC: People blame the bank - saying, ‘the bank doesn’t understand my business’ is the same as saying, ‘the client doesn’t understand my business’. It’s up to the business owner to make them understand. Be thorough and realistic. If you have a business plan or proposal, talk it through with people, including other entrepreneurs. Are you making yourself clear? What would you be looking for if I was pitching to you? Understand what you want to say and how you want to say it. It should be honest and direct. DIVERSIFY WITHOUT OVERSTRETCHING YOUR LIMITED RESOURCES RC: If you diversify to become a ‘me too’ business, be careful. As we head for the recovery, you don’t want to lose whatever makes you special and different. SC: What can you do to make yourself relevant to the market you’re going into in a commercially viable way? The world changes every day, what works for someone today may not work well for you tomorrow. SUCCESSFULLY WIN MARKET SHARE FROM LARGER, MORE ESTABLISHED RIVALS RC: When I was at Pepsi, we woke up every single morning facing the most recognised brand on the
planet. There was only one way we could hope to beat it and that was through the culture of our people. We had to be faster, more agile and more risk embracing. The lesson for challenger brands is trust your people. Don’t give them tasks to perform, give them decisions to make. MAINTAIN THE PERSONAL SERVICE LEVELS THAT HELPED YOU WIN BUSINESS FROM COMPETITORS IN THE FIRST PLACE RC: As you grow, don’t forget what gave you growth in the first place; you were small, intimate and you were in touch with your customers. Big companies don’t touch their customers. Richard Branson believes the bigger you get, the more agility, intimacy and customer centricity you lose. Virgin is a £24bn business, but he’s got something like 30 subsidiary companies. Whenever one of his companies looks like it’s getting too big, he cuts it in half, with two MDs. That’s a great model for a small business. MANAGE YOUR CASHFLOW AS THEY GROW THROUGH THE UPTURN SC: People say, ‘sell sell sell’, I say, ‘sell, get the cash, sell, get the cash’. A sale is not worth having if you’re not going to get paid. So many small businesses that trade with other companies don’t have in writing what the terms of trade are going to be before the transaction is done. Have you done a credit reference check? What’s their reputation, do they pay on time, do they query invoices? There are many things that can slow payment down. Don’t find the sales, find the cash. For further advice or information, visit the roving Barclays team at New Start Scotland, SECC, 19th and 20th March.
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NEWS
IN BRIEF
70% OF SCOTTISH PRIVATEEQUITY FIRMS FAIL TO PROVIDE A RETURN FOR THE FOUNDER
LIFT IN OUTPUT Scottish firms saw a lift in output and new orders last month, according to data from the latest influential Purchasing Managers Index. The PMI also reported a rise in Scottish recruitment while rising input costs also led to a hike in the prices being charged. However, Scotland’s performance was still below the level of improvement for the UK as a whole.
MARTIN AVISON
SEVEN IN TEN PRIVATE-EQUITY BACKED SCOTTISH BUSINESSES FAIL TO PROVIDE A RETURN FOR THE FOUNDER OR THE INVESTOR, ACCORDING TO ONE OF THE COUNTRY’S LEADING COMMERCIALISATION EXPERTS. Reality Gap, who work with new firms to ensure they are as attractive as possible to investors, say £30.8 million of private investment is wasted every year, simply due to fledgling companies failing to achieve their commercial promises. The firm’s chief executive Martin Avison, said: ‘For every 10 investments, only one will provide the expected returns. Two will provide an adequate return whilst, with the benefit of hindsight, the remaining seven investments would not have been made at all. ‘A good private equity partner can add significant value to a business, enabling them to fasttrack the opportunity, without the need for personal guarantees.
However, investing in potentially high growth businesses is generally accepted to be a risky past-time.’ Avison also highlights that for every business that gets the chance to pitch their idea to a potential investor, it is estimated that 100 businesses don’t. In an attempt to reverse the growing concern of business failures in this sector, Avison’s firm works with new businesses, providing pre-investment expertise to ensure it is commercially viable and attractive to potential investors. Avison said: ‘This isn't due diligence and it isn't consultancy. It is far stronger as we actually go into the market and generate sales contracts for the new business, establishing the market, the customer and the price. Growing the business through sales is by far the best way to fund a new business.’ Visit Reality Gap at this year’s New Start Scotland event.
SCOTTISH FIRMS RETURN TO WORK The number of Scottish firms entering serviced offices has risen for the first time in over a year, suggesting the country’s economy has finally found its feet, say one of the country’s leading office space specialists. Statistics from officebroker.com show the number of new business entering serviced office space grew throughout Scotland in January and February 2010. In 2009 Scotland was one of only three areas in the UK to experience a decline in the number of business entering serviced offices - despite the UK recording a 13% increase overall.
NEWS
SCOTTISH ENTREPRENEURS NO LONGER TRUST THEIR BANKS
OVER 60% OF SCOTTISH ENTREPRENEURS DO NOT TRUST THEIR BANK, NEW RESEARCH HAS REVEALED. A survey of over 1,000 SME owners found 63% said they no longer trust their bank, with many unable to secure funding. The results come as Royal Bank of Scotland and Lloyds Banking Group have been criticised by a committee of MPs for failing to lend enough to businesses and homeowners. The survey, carried out by the country’s largest business support event, also revealed that only 28% of new start business owners were able to secure funding from their bank. 45% borrowed from family and friends, 22% from other financial bodies, and 5% from angels and investors. New Start Scotland organisers, along with many of the
country’s business organisations, are still desperately concerned that the government’s efforts to encourage banks to increase lending to cash-strapped firms is still not working. Scottish entrepreneur and online Dragons’ Den panellist, Shaf Rasul, said: ‘Entrepreneurs will drive Scotland out of the recession. But while the opportunities today are much better than they were 10 years ago, 2010 it’s going to be another year of battering down the hatches. However, if you can make a successful business in the recession, imagine what it’ll be like when we’re out of it. You’ll make a fortune when it ends.
‘28% OF NEW START BUSINESS OWNERS WERE ABLE TO SECURE FUNDING FROM THEIR BANK. 45% BORROWED FROM FAMILY AND FRIENDS, 22% FROM OTHER FINANCIAL BODIES, AND 5% FROM ANGELS AND INVESTORS.’ Rasul, who is one of this year’s key speakers at the business event, added: ‘New Start Scotland will help a lot of people who are starting up a business and who want someone to talk to or get advice from. Even if I can help or give advice to two or three people, that’s two or three people who are contributing towards the economy.’
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NEWS
IN BRIEF
BUSINESS BUG BITES WOMEN IN SCOTLAND FEMALE ENTREPRENEURS ARE CATCHING UP TO THEIR MALE COUNTERPARTS, ACCORDING TO NEW RESEARCH RELEASED AHEAD OF SCOTLAND’S LARGEST BUSINESS SUPPORT EVENT.
To the end of January 2009/10, 38% of business startups were launched by women, compared to a total of 34% in 2008/09. This figure had previously been steadily decreasing since reaching an all time high of 42% in 2004/05 research from Business Gateway shows. In the year 2000, women accounted for only 30% of startups in Scotland. Industry experts now believe that female entrepreneurship is beginning to rejuvenate and will play a large part in the upturn of Scotland’s economy. And Scottish entrepreneurs can now get even more support from the everywoman network, the UK’s leading provider of training, resources and support services for women in business. Working to increase the number of women in the UK economy and raise their status, everywoman is aimed at
connecting, uniting and inspiring women in business - helping them to achieve their full potential. With over 6,000 members, the online network provides fresh ideas, discussions and highly topical advice from forward thinking female business owners - all with first hand experience of running a business. Log on to www.everywoman.com
BANKS USE AGGRESSIVE TACTICS Banks bailed out by taxpayer money have been accused by MPs of using ‘aggressive tactics’ to pressure customers struggling with debt. Westminster’s Scottish affairs committee said banks operated ‘unacceptable practices’ to claim back debts while pushing expensive credit cards, loans and overdrafts to struggling families. Colin Borland, of the Federation of Small Businesses in Scotland said: ‘The Committee is absolutely right to highlight the importance of transparency in small business lending decisions. It is through greater transparency and better communication that the trust between the big high street banks and their small business customers will be restored. We are therefore pleased that the report leaves banks in receipt of taxpayers’ money in no doubt that they have an obligation to explain their lending decisions.’ THIRD OF SMES OWED MONEY Over a third of Scottish SMEs have been left with monies owed to them as a result of their trading partners or customers going bust. The research by CreditPal, an online accountancy tool, found 36% of Scottish business owners had not been paid for work by clients and had been left vulnerable as a result from defaulted payments from businesses entering liquidation.
SHOW NEWS
NEW START SCOTLAND 19TH & 20TH MARCH 2010, SECC
GRAB £30,000 TO LAUNCH YOUR BUSINESS WITH A BANG WORKERS WHO HAVE BEEN MADE REDUNDANT ARE BEING ENCOURAGED TO BECOME THEIR OWN BOSS AS SCOTLAND’S LARGEST BUSINESS SUPPORT EVENT RETURNS TO THE SECC FOR THE SIXTH YEAR RUNNING. And the organisers of New Start Scotland are hoping to encourage the next generation of Scottish entrepreneurs with the return of the Bright Business Idea competition. On offer is £30,000 of business support, including £5,000 cash, to help one fledgling entrepreneur turn their business dreams into reality. Think you’ve got a great idea but need the support and cash injection to get it off the ground? Then visit New Start Scotland and pitch your business idea to our panel of judges. Heats will run all day Friday and Saturday
morning with the grand final taking place on Saturday afternoon. VISIT WWW.NEWSTARTSCOTLAND.COM FOR AN APPLICATION FORM OR ENTER AT THE SHOW.
DRAGONS SET BUSINESS EVENT ALIGHT TWO OF THE UK’S TOP ENTREPRENEURS ARE SET TO SHARE THE SECRETS OF THEIR SUCCESS WITH SCOTLAND’S ENTREPRENEURS WHEN THEY APPEAR AT THE COUNTRY’S LARGEST BUSINESS SUPPORT EVENT THIS MONTH. Online Dragons’ Den star Shaf Rasul and former Dragon Doug Richard will be this year’s key speakers at New Start Scotland, taking place at the SECC on 19th and 20th March 2010. The event, which is free to attend, is aimed at helping entrepreneurs take their business to the next level.
SHAF RASUL
DOUG RICHARD
‘SHAF RASUL AND FORMER DRAGON DOUG RICHARD WILL BE THIS YEAR’S KEY SPEAKERS AT NEW START SCOTLAND.’
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SHOW NEWS
NEW START SCOTLAND 19TH & 20TH MARCH 2010, SECC WHETHER YOU ARE LOOKING TO GET YOUR NEW BUSINESS IDEA UP AND RUNNING OR WANT TO TAKE YOUR EXISTING SMALL BUSINESS TO THE NEXT LEVEL, NEW START SCOTLAND HAS EVERYTHING YOU NEED UNDER ONE ROOF. As the country’s largest business support exhibition, New Start Scotland 2010 is packed with even more features, all aimed at turning your business dreams into reality - whether you’re looking to take your first steps in business or take your company to the next level. In addition to face to face advice from over 100 exhibitors, visitors can take part in the extensive range of free seminars, workshops and many other live features, all designed to help make your business a success. Starting your own business can be the most satisfying decision that you will ever make. At New Start Scotland you can find all the inspiration, advice, guidance and support you will need to make it happen. THE RIGHT ADVICE - With over 50 free seminars from an outstanding collection of successful entrepreneurs, and experts on virtually every aspect of starting a business, the show offers an unprecedented array of free advice. ALL THE SUPPLIERS AND SUPPORT ORGANISATIONS - 100 different exhibitors will be represented at the exhibition. In just one day you can put in place all the suppliers and support organisations that will set your business off on the right track. DEVELOP YOUR BUSINESS SKILLS - Take part in detailed, interactive workshops designed to cover vital areas of starting a business including sales and marketing, recruitment, IT, customer and time management, and tax issues.
WRITE AN EFFECTIVE BUSINESS PLAN - Get an expert opinion of your plans and ideas. The Business Planning Kiosks at the event will give you a detailed assessment of the key areas of your plans. HANDS ON EXPERIENCE - On both days of the show, visitors will have the opportunity to take part in interactive workshops. Covering a variety of topics in more detail than the seminars, these workshops will provide some of the most important skills needed to run a successful business.
TO REGISTER FOR YOUR FREE TICKETS, VISIT WWW.NEWSTARTSCOTLAND.COM OR CALL 0800 157 7950
‘1O0 DIFFERENT EXHIBITORS WILL BE REPRESENTED AT THE EXHIBITION. IN JUST ONE DAY YOU CAN PUT IN PLACE ALL THE SUPPLIERS AND SUPPORT ORGANISATIONS THAT WILL SET YOUR BUSINESS OFF ON THE RIGHT TRACK.’
ONE’S TO WATCH
SCOTLAND’S ONES TO WATCH SCOTLAND HAS A LONG TRADITION OF PRODUCING SOME OF THE BEST BUSINESS BRAINS ON THE PLANET - KWIK FIT FOUNDER SIR TOM FARMER, STAGECOACH TYCOON BRIAN SOUTER AND ULTIMO BRA QUEEN MICHELLE MONE. BUT WHO ARE THE ONES TO WATCH FOR THE FUTURE?
NEW START TAKES A LOOK AT THE RISING STARS OF TOMORROW. TOM MURSELL - BOFFER.CO.UK Tom Mursell (20) ran an award winning business, notgoingtouni.co.uk, showing young people the opportunities that exist outside of university. But after meeting internet entrepreneur Shaf Rasul, Tom was keen to learn more about becoming a successful entrepreneur. TOM MURSELL
Shaf told him if he ever sold his business, he would mentor him for a year. A few weeks later, Tom phoned up and said, ‘I’ve sold the business Rasul, when can I start?’ They agreed on a 12-month apprenticeship beginning in January this year and already Tom is making a name for himself. One of the first opportunities Tom identified was boffer.co.uk, an online retail business which specialise in selling bankrupt and excess stock from retailers to the general public at a low price. Having convinced Shaf to take control of boffer.co.uk, in which he had already had a minor stake in, Tom now heads up the day to day running of the business. www.boffer.co.uk SCOTT BALLANTYNE
SCOTT BALLANTYNE - SPECIAL GIFTS Despite being just eight years old, Scott Ballantyne is in the running to be crowned one of Scotland’s top inventors. The Tillicoultry Primary School pupil came up his idea for a new board game while off school seriously ill. And now his ‘Advent-ure Boardgame’ which can be customised by players to suit their hobbies and interests, has received interest from global giant Cadbury’s who are keen to use his innovation in their product range. NICOLA DAMES
Scott’s Mum Patricia said: ‘Scott has always been creative and this is something I am keen to encourage. He has always loved making and designing things and I think Scott will make a real difference to the world one day.’
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AMANDA MUIR
NICOLA DAMES - VANILLA BLUSH Having gone through major bowel surgery three years ago, Nicola Dames now wears a colostomy bag. Fed up of being unable to find sexy underwear that would accommodate her bag, Nicola decided to take things into her own hands. She said: ‘Over 100,000 people in the UK have to wear a bag and I firmly believe that, although we may have had some of our insides removed, but we have not had our confidence removed.’ Nicola has huge plans for her fledgling company including designing fabulous, attractive, fashionable underwear, swimwear, bridal wear and maternity wear. www.vblush.com
AMANDA MUIR - AMSAN BUSINESS SOLUTIONS Amanda Muir, whose firm specialises in providing tendering support to SMEs, says her company is on track to increase its turnover by a staggering 2,500% over the next 12 months. Having founded Amsan Business Solutions just three years ago, Amanda expects the company’s turnover to grow from last year’s £300,000 to £8million by the end of the current financial year. She believes the firm’s success is due to the increase in SME
SKERRYVORE
business owners looking to secure work from the public sector £850 billion of business was put up for tender in Europe last year. Having opened a new office in Bathgate, the company’s staff numbers have quadrupled in the past year to 16. Muir, who was crowned Young Entrepreneur of the Year in 2007, expects to reach 40 employees by the end of 2010. www.amsan.co.uk
SKERRYVORE Dubbed the ‘boy band of traditional Scottish music’, Skerryvore have had huge success since they first formed five years ago. The lively sound of bagpipes, accordions and fiddle, fused with kicking rhythms of guitar, bass and drums, has seen Skerryvore perform at festivals world-wide including Celtic Connections and the MagiaCeltica & Celtica Festivals in Italy and the Netherlands. Their debut album West Coast Life was awarded album of the month on BBC Radio Scotland’s Celtic Connections programme. Their second album, On the Road, was released in July 2007 and went to re-press within a week of its release. Since establishing their business, Skerryvore has appeared
ROBERT JAMIESON
alongside the likes of the Red Hot Chilli Pipers and Donnie Munro (formally Runrig). Last year the band, brothers Martin and Daniel Gillespie, Alec Dalglish and Fraser West, were all named as The Prince's Scottish Youth Business Trust ‘Young Entrepreneur of the Year’. www.skerryvore.com
Robert Jamieson - Goal Line Technology Silver start-up Robert Jamieson has come up with an invention that could assist referees at contentious moments in sport. Originally invented for use in fast paced ice hockey games, Robert’s ‘Superpuck’ is fitted with a Formula 1-type transponder which accurately confirms close goal-line and offside decisions. When the ‘Superpuck’ passes over a magnetic field - a loop fitted around the goal-frame - it registers a hit on a pitchside decoder within 1/1000th of a second. Working in conjunction with Tag Heuer Sports Timing, Robert has already been approached by the sporting bodies of football, handball, ice hockey and field hockey to develop the technology for all sports. www.goallinetechnology.com
OPINION
G D U R DO RICHA ‘THE UK IS, AND HAS ALWAYS BEEN, AN ENTREPRENEURIAL SOCIETY AND THERE'S SOMETHING WRONG HERE AND NOW WHEN GOVERNMENT STANDS IN THE WAY OF THAT ENGINE OF PROGRESS.’ DOUG RICHARD
D
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ENTREPRENEUR AND FORMER DRAGONS’ DEN PANELIST DOUG RICHARD RECENTLY LAUNCHED THE ENTREPRENEURS MANIFESTO, A PUBLIC DECLARATION AIMED AT SUPPORTING THE UK’S 4.4 MILLION SMALL BUSINESS OWNERS AND ENTREPRENEURS. HERE, HE EXPLAINS THE MAIN CHALLENGES THAT THE UK MUST OVERCOME TO TRULY HARNESS THE POTENTIAL OF ITS ENTREPRENEURS AND WHAT MUST THE GOVERNMENT DO TO CLEAR THE PATH FOR AN EXPLOSION IN ENTREPRENEURIAL ACTIVITY.
The people of the UK have to find out what entrepreneurs do. There’s a lot of confusion about that in our schools and in our media as I’ve written before. Simply put, entrepreneurs turn problems into profitable opportunities for themselves and those who work with them. Thomas Crapper, in the 1800's, was born into a world where human waste still flowed down city streets in some places. He developed the first commercially viable toilet that worked with primitive sewer systems of the time and founded a very successful UK enterprise. Thomas and his partners vastly reduced the amount of disease and discomfort experienced by millions of folks in the UK, and he employed a lot of people in the process. That is what entrepreneurs do. They see problems and they find solutions that make us all better off. The UK must remember that some of the most important entrepreneurs in history were born here. Some of the most important innovations were created here. The UK is, and has always been, an entrepreneurial society and there's something wrong here and now when government stands in the way of
that engine of progress. There’s a lot of red tape that makes getting a business up to speed expensive and time consuming. Some members of government have said that you can start a business in an afternoon in the UK. Actually, you can sign up to pay taxes to the government in an afternoon. To actually comply with all the regulations that govern opening a business and putting people to work that is a different thing altogether. That takes months. Government has to leave entrepreneurs alone. For example, I’d like it if very small businesses just had far less regulation over all to cope with over all. We should really give a good hard think about just how many regulations a business that employs less than ten people should have to obey. In terms of financial support, I’d rather the government stopped handing out grants based on who can write the best business plan and started giving families and friends a benefit for investing in or lending to the businesses of families and friends. A father should be able to invest fifty thousand pounds in his son's small business without paying the same capital gains he pays on
an arms length stock purchase. Because that fifty thousand can support people in a UK community. It can employ people. It can create real wealth in the form of new domestic costs savings and new products for overseas sales. It is a better investment than a few thousand share invested in Bank of America, and I’d like the government to recognise that in the tax code. Small and medium sized enterprises employ more than 90% of the people in the UK, and they generate more than 50% of the GDP. So why are so many tax breaks, subsidies and direct benefits going to the large multinationals that can, at a whim, leave the UK. The people of the UK have to inform their government that they’d like to make it easier for domestic entrepreneurs, and those who invest in them, to start and run successful businesses. Doug Richard recently launched his School for Startups providing accelerated business training that helps entrepreneurs launch more successful startups and run more successful businesses. Visit www.schoolforstartups.co.uk or catch Doug at New Start Scotland on 19th and 20th March 2010.
INTERVIEW WITH
BREWING UP A STORM SCOTTISH BREWERS BREWDOG RECENTLY MADE HEADLINES WHEN THEY RECLAIMED THE TITLE OF THE WORLD'S STRONGEST BEER FROM GERMAN RIVALS SCHORSCHBRAU - WITH A 41% BEER NAMED SINK THE BISMARCK. And despite fierce criticism by Alcohol Focus Scotland (AFS), who branded the company as ‘irresponsible’, the Fraserburgh-based firm is on target to exceed a turnover of £3million this year. Describing the company’s new beer as a ‘bit of fun’, managing director James Watt says that bodies such as AFS and the Portman Group ‘are just completely ignorant to the industry.’ He said: ‘As a company, responsible consumption is completely fundamental to everything that we do. We want to promote a new understanding and appreciation of beer in the UK. People who understand and appreciate beer are much less likely to abuse it if beer is expensive. Alcohol Aware, the Portman Group and these guys are funded by the huge multi-national beer companies which are responsible for selling beer at insanely low prices in supermarkets yet they seem to pick on a small, niche company that’s promoting expensive beers and trying to educate the consumer as to how enjoy beer
properly. It seems like they are shooting the wrong people here. ‘It’s simply because we don’t fund them. They are just a thinly veiled cartel. They are funded by the big companies and they can’t bite the hand that feeds them so they’ve got to be seen to be doing something.’ Watt says the firm has been working on Sink the Bismarck for the past five months with the aim of making a beer that had the same alcohol by volume (ABV) as a good single malt Scotch whisky. And at £40 a bottle, it’s easy to see why Watt gets frustrated at criticism of a beer aimed at ‘beer geeks’. He said: ‘Beer has a terrible reputation in Britain, it's ignorant to assume that a beer can't be enjoyed responsibly like a nice dram or a glass of fine wine. A beer like Sink the Bismarck should be enjoyed in spirit-sized measures.’
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Watt says he never sees any obstacles in business, just opportunities. And with their first BrewDog pub set to open this month, the company has huge plans for the future. Watt added: ‘We have a new site just outside Aberdeen and we’ve just recently been given planning permission to build a new ecofriendly facility which is completely energy self-sufficient. This will increase our production capacity.’ So what’s the secret of their success? Watt says it’s simple: ‘We work hell of a hard and we’re insanely passionate about what we do as well.’
Launched three years ago by best friends James Watt and Martin Dickie, Brewdog now employs 31 staff, exports to 16 countries and has their products stocked in the majority of leading supermarkets such as Tesco, Asda and Sainsbury’s. The duo is now among those in the industry calling for a minimum pricing for alcohol to be introduced in Scotland. Watt said: ‘We were the first company to come out and publicly back the Scottish Government’s proposal for a minimum price per unit. I think that would be a really positive step and direction. For me, the two things that need to change are, sensible pricing, put an end to this ridiculous pricing in supermarkets and two, education.
‘BEER HAS A TERRIBLE REPUTATION IN BRITAIN, IT'S IGNORANT TO ASSUME THAT A BEER CAN'T BE ENJOYED RESPONSIBLY LIKE A NICE DRAM OR A GLASS OF FINE WINE.’
‘There’s this whole taboo thing about alcohol in the UK and I think if we focus on a bit of education as opposed to the taboo mindset, then people at a younger age would learn to understand, appreciate and how to enjoy it responsibly.’ Living the mantra, ‘it’s a lot easier to get forgiveness than it is permission’,
BEER FACTS I Around 90% of beer sold in the UK is produced in the UK. I In the UK 28 million pints of beer are consumed every day, which equates to 100 litres per head each year - compared to 20 litres of wine per head. I Beer is a traditional and wholesome produce made from natural ingredients. I Over one-third of the UK barley crop is bought by UK brewers who are also major users of English hops. I There are over 2000 different beer brands available in the UK and over 1.5 million pints a day are exported to over 120 different countries.
Facts provided by the British Beer and Pub Association
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The investment-guru, who is widely credited with predicting the 1987 stock market crash as well as the more recent economic crisis, has advised fellow investors to turn to farmland and gold. Addressing some of the world’s most powerful fund managers at a meeting in Japan, Marc Faber, also known as Dr Doom, told the crowd they must now start looking beyond market volatility when thinking about future investments.
lower level admittedly. Or I would buy Indian, Chinese, Malaysian shares. I think there are better alternatives than U.S. stocks.’
He said: ‘The next war will be a dirty war. What are you going to do when your mobile phone gets shut down or the internet stops working or the city water supplies get poisoned?’
Faber also advised stock pickers to play on future food and water shortages by buying into companies with exposure to agriculture and water treatment technologies.
With violence and biological attack more likely to occur in cities, Faber advised buying houses in the countryside. Gold is a form of wealth that can be carried and everybody should buy some gold every month ‘forever’.
‘I’M NOT SAYING THAT THE DOLLAR WILL GO STRAIGHT AWAY DOWN BECAUSE OTHER CURRENCIES APPARENTLY LIKE THE EURO ARE EVEN WORSE THAN THE U.S. DOLLAR AT THE PRESENT TIME.’
‘Gold is not the liability of someone else… its quantity cannot increase at the same rate as you can print money, which will eventually… weaken the US dollar. ‘I’m not saying that the dollar will go straight away down because other currencies apparently like the euro are even worse than the U.S. dollar at the present time. But eventually if you print money, the purchasing power of money will lose value and what will happen is stocks will adjust on the upside...if you believe in equities, I would rather buy Vietnamese shares than U.S. shares because I can make the case that the economy there will grow much faster than in the United States, from a much
One hedge fund manager described Dr Faber’s advice as ‘excellent, chilling stuff: good at putting you off lunch, but not something I can tell clients asking me about quarterly returns at the end of March’.
Key to his viewpoint is his thoughts on the American economy, and his doubts the country can pay off its phenomenal mountain of debt. Faber argues the US faces imminent bankruptcy, as well as the increasing risk of military tension with China over dwindling oil supplies. He said: ‘When I tell people to prepare themselves for a dirty war, they ask me: ‘America against whom?’ I tell them that for sure they will find someone.’
DOCTOR DOOM
INVEST IN FARMLAND AND GOLD, SAYS DR DOOM
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THIS MONTH
F A SH HAF
S L U S A R
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IN MY LIFE BY 1999 SHAF RASUL WAS ALREADY A SELFMADE MULTI-MILLIONAIRE WITH AN EXTENSIVE INVESTMENT PORTFOLIO. HE CURRENTLY HAS AN INTEREST IN MANY BUSINESSES INCLUDING E-NET COMPUTERS, THE LARGEST STORAGE MEDIA DISTRIBUTOR IN EUROPE AND ONE THE BIGGEST BUYERS OF OPTICAL STORAGE PRODUCTS IN THE WORLD. As well as masterminding the growth of E-Net Computers, Shaf has also developed a venture capital investment portfolio which focuses on property, asset management and internet technology. In 2006 he was crowned Ernst and Young Scottish Young Entrepreneur of the Year and was ranked 19th in a Management Today 2008 survey of the UK’s top 100 entrepreneurs. He has also been included in the Asian 100, a list of the most successful members of the British Asian community. As well as appearing on BBC’s online Dragons’ Den, Shaf now concentrates on business mentoring and philanthropy. NS: What opportunities do you think the think the upturn will bring for new start entrepreneurs?
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SR: The recession brings a lot of new opportunities for young entrepreneurs. I’m currently working with a new business, Boffer Limited. Boffer is a website which has a phenomenal cult following, it grew from nothing. We started it at the beginning of the credit crunch as there is market for people that want products that are good value for money. It stacks them high, sells them cheap and that’s the gist of it. Sometimes we get five thousand people in a day. That business would not have worked had we not been in the middle of a credit crunch. Ten years ago if you wanted to set up a decent e-commerce business you would need an investment of five or six million pounds. Because technology has moved on so far, you can set up that same business for a couple of hundred pounds. You could buy it out of a box for 200 pounds and have it up and running. The opportunities today are much better than they were ten years ago.
A FEW YEARS AGO I WAS GOING TO RETIRE, BUT I THOUGHT IF I RETIRED WHAT WOULD I DO? I REALISED I WOULD START UP ANOTHER BUSINESS. SO I’VE DECIDED TO HELP PEOPLE AND THAT’S LITERALLY WHAT I’VE BEEN DOING. NS: What do you think of the support that is available to Scottish entrepreneurs? SR: What support?! I write for the Scottish Sun and I get so many emails about this. As far as I’m concerned there’s hardly any support out there, and most people don’t know about the support that exists. What I’m doing with this apprentice thing is probably more in the last few weeks than the Scottish Government has done for years. The closest you come to it is the entrepreneurial course that Glasgow University does. NS: What would you change? SR: At the moment a lot of people don’t think of becoming an entrepreneur. At school they want to become a hairdresser, or a lawyer. Enterprise and entrepreneurialism need to be taught in school, you need to let them know that’s an option. That’s what will drive our country out of recession, is if we can produce a whole load of entrepreneurs. I remember at school learning that Napoleon said Britain was a nation of shopkeepers, it’s certainly not anymore. NS: Do you think there’s too much red tape in business? SR: There are two views on this, but red tape is necessary. In saying that, there’s a lot of red tape when you’re setting up a business. I can see both sides of the argument on this one. With one of my companies, Big Offers, we’re having to follow a lot of different checks and
procedures, all we’re trying to do is transfer a bank account. However we could be money launders for all they know so it’s essential. NS: What advice would you give to entrepreneurs just starting out? SR: Do your research first, it’s essential. A lot of people will think of a business idea, ask their friends or family who of course tell them it’s a great idea, however they need to get themselves down to a shopping centre and ask 100 random people if they would use this product or buy this service. Once they have that feedback the next stage is to raise funding. This is often done through friends and parents, with parents often becoming their children’s bank managers! NS: What is the worst business idea someone has approached you with? SR: I get so many ideas, two or three hundred a month. Ever since I went into the Dragons’ Den I’ve got loads. Everyone wants to replicate Facebook, but they’re jumping on the bandwagon two or three years too late. NS: And you’re favourite investment? SR: www.Boffer.co.uk is my favourite investment. I've done lots of other high yield investments in my time but none of them are as much fun as Boffer. NS: What do you think 2010 will hold for the small business owner, both those starting out and who have been running for a while?
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SR: There are times of opportunities, but for 2010 its going to be another year of battering down the hatches and looking at reducing costs, making things more efficient, and acquiring other businesses in the same area. If you can make a successful business in the recession, imagine what it’ll be like when we’re out of it. You’ll make a fortune when it ends. NS: Does money motivate you? SR: No, a few years ago I was going to retire, but I thought if I retired what would I do? I realised I would start up another business. So I’ve decided to help people and that’s literally what I’ve been doing. I was at Strathclyde University a few weeks ago lecturing the enterprise students. I want to help people set up a global business that help build up the next generation of entrepreneurs. NS: Why are you keen to lend your support to New Start Scotland? SR: I think entrepreneurs will drive Scotland out of the recession. New Start Scotland will have a lot of people who are starting up a business who want someone to talk to or get advice from. Even if I can help or give advice to two or three people, that’s two or three people who are contributing towards the economy.
MAKING THE MOST OF YOUR EUREKA MOMENT
FOR SCOTLAND’S UP-AND-COMING INVENTORS AND INNOVATORS, HAVING THE ‘EUREKA!’ MOMENT IS JUST THE FIRST STEP. TURNING IT INTO A FEASIBLE AND PROFITABLE REALITY CAN BE A LONG, COMPLICATED AND OFTEN EXPENSIVE PROCESS. IT’S ENOUGH TO PUT SOME PEOPLE OFF BEFORE THEY EVEN BEGIN. But help is at hand from government-funded technology support organisation EDTC Technology Gateway, which is celebrating ten years of helping companies and entrepreneurs to get their innovative ideas off the ground by providing expert advice that is fully confidential and free-of-charge. Jim Purves, manager of EDTC, firmly believes that having a good idea simply isn’t enough. He said: ‘In my experience, the ‘Eureka!’ moment is just the first step in what can be a very long and complex process. It takes a great deal of stamina, dedication and self-belief to turn what may
seem like a mad-cap idea into a viable business proposition. It is a real challenge - but it can also be extremely rewarding!’ Since it was established in 2000, EDTC has provided essential support to over 2,000 individuals and companies - from a variety of industries and sectors from all across Scotland. Jim added: ‘Scotland has a proud history of innovation - the telephone, Penicillin and Chip and Pin all have roots in our small country. In my opinion, invention and innovation must continue to be nurtured and encouraged in Scotland.’
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INNOVATION NATION BEAUTY TECH Best friends Nicole Maguire-Hogg and Joanne Josey have developed the P.s Waxing System - an innovative piece of equipment which allows beauticians perform waxing safely and hygienically. They created the product after noticing several problems in the current method of waxing. Nicole explains: ‘Beauticians use ‘vats’ of wax that are messy, unhygienic and hard to heat properly. Joanne and I believe that women deserve better. We couldn’t believe that no one had come up with a better method so we put our heads together and came up with the P.s Waxing System.’ Nicole and Joanne developed their product with the help of EDTC Technology. Nicole said: ‘We had a lot of help from EDTC. Their support has been essential and we couldn’t have done it without them.’ CYBERHAWK INNOVATIONS Malcolm Connolly and Douglas Walker launched Cyberhawk Innovations in November 2008. Cyberhawk Innovations provides use unmanned aerial vehicles (UAVs), such as small micro helicopters, with camera equipment attached to them. These are used to inspect objects at height - such as wind turbines, power lines and flare stacks in oil refiners. Using a UVA removes the risk of putting a person in danger when carrying out these checks. Malcolm said:
‘THE PS WAXING SYSTEM WORKS LIKE A GLUE GUN. HEATED WAX IS PUSHED OUT OF THE TOP OF THE APPLICATOR, WHICH CAN BE FITTED WITH DIFFERENT NOZZLES SHAPED TO SUIT THE AREA OF THE BODY THAT IS BEING WAXED.’
‘Before launching Cyberhawk Douglas and I were both working in the oil industry. We carried inspection work using rope access - this means using climbing and caving techniques to allow access to high-up places. Doing this job day-to-day made us realise the advantages of using a helicopter, rather than a person.’ As well as working with clients including Scottish and Southern Energy, Cyberhawk Innovations have also been helping the Scottish Rugby Union. Their innovative UAVs were flown above the training ground to record the action, the positions, patterns and runs made by players were then analysed to help the team improve. For further information please call T: 01506 407140 or visit our web site at: www.edtc.org.uk
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FIVE THINGS I WISH I’D KNOWN TRUST YOUR INSTINCTS One of the biggest frustrations I’ve found in business is why things take so long when there is no reason for it. So many businesses lose valuable time justifying and mulling over decisions. By all means be considered, but often your instinct will give you the right answer immediately. I wish I’d learned to trust this from the start, as acting on your instincts will let you move on to the ‘just do it’ bit much quicker and ultimately get the job done.
MICHELLE MONE The impulse to set up your own business is often a triumph over adversity, the majority of successful enterprises are launched on hope. There comes a time when it is possible to look back and admit that things could have been done better; but that time is usually only when the millions have been made, the company is a well-known name and it is safe to acknowledge the extent of the risk taken to get there. Underwear tycoon Michelle Mone shares the five things she wishes she had known before she launched MJM International, her lingerie firm which is expected to break the £1million profit barrier this year, despite the high street gloom.
PICK THE RIGHT TEAM Running a successful company is all about having the right team in place. Lucky for me, touch wood, I have a fantastic team that I can rely on and that work closely with me to keep the business running to its optimum. Everyone compliments one another and there’s a good mix range of skills, experiences, temperaments and personalities, which is so important. As the company has grown and grown, I’ve learned how important it is to have a strong mix of people like this and that the combination of the individuals really is the key.
BE PREPARED FOR SETBACKS Always build in time for potential setbacks. This will mean that you’re prepared for anything and if no obstacles are thrown in your way, you’re ahead of the game. As a business leader, this is essential as often setbacks can breed negativity in your team. If there is a B plan in place, everyone will feel more confident, prepared for moving forward and taking the setback in their stride.
KEEP THE FAITH, STAY FOCUSED AND BELIEVE! I wish I’d known the power of positive thinking from the very start of my career. I’ve mostly always been an optimist and had a ‘can do’ attitude, but in the early days when times were tough I would really let it get to me. But when you lose focus and start to doubt yourself, your confidence dips and your output suffers. Now I realise that, no matter what you have to keep a positive outlook. It’s the only way to survive and thrive.
RECOGNISE YOUR WEAKNESSES You may have tremendous strengths, but equally everyone has significant weaknesses too that can hinder a business if ignored. At least if you highlight them, you can learn how to deal with them or find someone who will have the right skills and strengths to compliment you. To really understand others, you need to understand yourself first!
FORUM BURNING QUESTION
EVERY EDITION OUR NEW START SCOTLAND FORUM MEMBERS TACKLE THE LATEST DEBATE.
THE UK HAS OFFICIALLY EMERGED FROM THE RECESSION, AFTER FIGURES SHOWED IT HAD GROWN BY A WEAKER-THAN-EXPECTED 0.1% IN THE LAST THREE MONTHS OF 2009. THE ECONOMY HAD PREVIOUSLY CONTRACTED FOR SIX CONSECUTIVE QUARTERS - THE LONGEST PERIOD SINCE QUARTERLY FIGURES WERE FIRST RECORDED IN 1955. YET SCOTLAND MAY STILL HAVE A WAY TO GO. THIS MONTH WE ASK OUR PANEL; Q: DO YOU THINK SCOTLAND HAS TURNED A CORNER?
INTRODUCING THIS MONTH’S PANEL MARTIN HAGGARTY
MARTIN HAGGARTY is the managing director of Paisleybased Accident Claims Scotland, which provides full accident management services to nonfault accident victims across Scotland.
JACKIE LOUGHERY
JACKIE LOUGHERY runs Oryx Solutions which helps organisations communicate with the people who matter; finding new and creative ways to engage with employees, customers and stakeholders. The main focus is change - advising senior management on internal communications strategy, hosting events to ensure staff are engaged and retained and providing bespoke development solutions.
DEREK BINNIE
DEREK BINNIE is a director at Space Solutions, Scotland’s biggest independent experts in helping businesses manage changes within the workplace. It operates UK-wide - from bases in Aberdeen, Edinburgh, Glasgow, Dundee and Livingston - to design, build, fit out, refurbish and relocate modern and productive business environments.
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‘AS SCOTLAND HAS A HIGH LEVEL OF PUBLIC SECTOR SPEND, MANY FIRMS DO NOT KNOW WHAT IMPACT THAT WELL-PUBLICISED FUTURE PUBLIC SECTOR CUTS WILL HAVE ON THEIR BUSINESSES.’ MH: This is a bit of a conundrum because the answer depends on who you speak to, but the answer would have to be no. I strongly believe that Scotland is in a more complex position than other parts of the UK and Europe. For a start, public spending cuts will have a horrendous effect across the board and will have long standing effects on the nation’s ability to exit the recession, and exit with a shred of strength to build upon. The real focus for Scotland should be its SMEs, which after all make up 98% of the country’s businesses. The government needs to act quickly to pressure banks to lend to SMEs as a way of combating a shrinking GDP. However, we must accept that during what will surely be a long process, small business owners must prepare for the fact that, despite rapturous cheers from government, SMEs will continue to feel the effects for years to come.
JL: Periods of economic and cultural change bring opportunities for smart businesses. Lead times are certainly longer and budgets might be cut but small businesses in particular should be able to respond. The key lies in developing a confident, but realistic, outlook to ensure that a business is well-placed to drive the upturn. For me, it’s all about confidence. In business, confidence is infectious but unfortunately so is lack of confidence. At the heart of our consultancy business is the need to instil confidence in our clients.
In challenging economic times it’s critical that we understand clearly the niche in which we operate and we need to be able to articulate this - with confidence - to potential customers. Emerging from recession, the smart businesses will be those who have researched markets carefully and have a clear vision and strategy. To thrive in an ever changing environment we need to build partnerships and collaborations.
DB: We were one of very few firms in the property sector to record significant growth in 2009, so I am cautiously optimistic about the future. However, the fate of the wider economy is less clear. From talking with many of the businesses we deal with across Scotland in recent months, we found that few believe the country is emerging from recession. As Scotland has a high level of public sector spend, many firms do not know what impact the well-publicised future public sector cuts will have on their businesses. Most importantly, confidence in the banking sector is currently low. There is a perception that there are tight restrictions on money lending in Scotland at the moment, and this is a major worry for many companies across the country. While these issues remain a concern for businesses, it is unlikely that we will see a noticeable a recovery in the market.
BUSINESS DOCTOR
AS THE FIRST SIGNS OF AN UPTURN START TO APPEAR, SCOTTISH FIRMS ARE BEING WARNED THEY COULD FACE A MASS EXODUS OF THEIR BEST STAFF, ACCORDING TO A SURVEY BY RESEARCH CONSULTANCY, FRESHMINDS TALENT...
BRUCE SAUNDERSON
24% OF STAFF SAY THEY ARE DISSATISFIED IN THEIR JOBS, ALMOST HALF (45%) REGRET HAVING CHOSEN THEIR CURRENT SECTOR AND 64% SAID THE RECESSION HAD MADE THEM THINK ABOUT MOVING SECTOR. THESE FINDINGS ARE BACKED UP BY FINANCIAL RECRUITMENT SPECIALIST PARKSIDE, WHICH FOUND 26% OF ACCOUNTANTS WILL ‘DEFINITELY’ MOVE AFTER THE MARKET IMPROVES AND 29% ARE CONSIDERING MOVING.
Q: HOW CAN SME OWNERS KEEP THEIR BEST STAFF DURING THE UPTURN?
and the days of companies offering just pension schemes are long gone. There are a number of innovative financial planning solutions available to employers which will add value to an employee’s remuneration package yet limiting additional costs for the employer. Life assurance, income protection, critical illness cover, salary sacrifice schemes, for example, to help pay the cost of childcare, in addition to tax efficient schemes are now widely available. There are also non-financial benefits available including car park places, mobile phones, staff health checks, discounted retail vouchers and bikes for work.
KEEP STAFF WITH GOOD BENEFITS A: Good staff are key to all successful organisations and as we head out of the recession there will be temptation for employees to move on to what they see as bigger and better opportunities. Companies cannot be complacent; they must look ahead and give serious consideration as to how to keep their best staff and remain competitive during the upturn.
However, such benefits should not be introduced without consideration to employment contracts. A salary sacrifice scheme such as the childcare voucher scheme which allows employees to pay up to £55 per week or £243 a month towards childcare would require employees to make a legally effective salary reduction otherwise the potential tax savings can be lost. An amended employment contract is therefore essential.
Employee benefits have developed in recent years
Long term reward structures should be considered.
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START BY RECOGNISING THAT EVERYONE WHO WORKS FOR YOU IS AN INDIVIDUAL IN THEIR OWN RIGHT AND INVEST TIME IN REALLY GETTING TO KNOW THEM WHAT ARE THEIR UNIQUE STRENGTHS? WHAT OPPORTUNITIES CAN YOUR BUSINESS CREATE TO ALLOW THEM TO PLAY TO THEM?
In doing this, it may be possible to structure the awards payment so employees are taxed at a lower capital gains tax rate of 18% (and potentially with no tax on the first £10000 if they have not used their annual capital gains tax exemption), giving employees more money. Consider and reflect the diversity of your best staff. If they are of different ages and with different personal priorities they may prefer to spend their benefit allowances in different ways. The new graduate entrant is less likely to value high multiples of life cover compared to the older employee with dependants. There are plenty of employee benefits to offer but it is important to remember to communicate employee benefits well. A benefit whether in the form of a pension or salary sacrifice scheme will not add value unless it is properly promoted. Employees who do not understand a benefit are unlikely to appreciate it. Bruce Saunderson is a senior manager at Grant Thornton, chartered accountants.
PEOPLE DON’T LEAVE ORGANISATIONS, THEY LEAVE YOU A: So just what was the silver lining when the recession clouds came? Well, for some, one of the more positive aspects of the recent economic downturn was the reduced risk of losing their best people. Some businesses believed that not only would they retain their top talent but, better still, get even more from them whilst uncertainty loomed large. The latest unemployment figures report the number of people out of work in Scotland has risen by 10,000 in the last three months of 2009.
GILL CONNELLY
UPTURN? WHAT UPTURN? Ever heard that old management nugget: ‘our people are our greatest asset’? Even said it yourself? I have, or something along those lines, and meant it. Not in a cheesy David Brent kind of way of course but as a piece of genuinely good advice to business leaders responsible for talented people. People don’t tend to leave organisations, they leave you. So you’ve got some great people working for you? Do they know you know how good they are? What are you doing to encourage them to stay with your business? No time for that, it’s a recession you’ve other stuff to do. Do you want your business to thrive or don’t you? Let’s assume you do and want to hold on to your best people. Well you can - with a little bit of effort. Start by recognising that everyone who works for you is an individual in their own right and invest time in really getting to know them - what are their unique strengths? What opportunities can your business create to allow them to play to them? There are some very simple tools out there that you can use to help you do this. Take a look at ‘Now, Discover Your Strengths: How to Develop Your Talents and Those of the People You Manage’ by Marcus Buckingham, Donald O Clifton. You can complete their self assessment tool on-line and learn more about the unique set of talents in your team. It will cost you around £10 a head. Now, if you don’t think your people are worth that, you don’t deserve to keep them. Gill Connelly is the managing director of business change consultancy, Talent To Task.
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FOR THE PAST FIVE YEARS, THE NUMBER OF WOMEN LAUNCHING THEIR OWN BUSINESS IN SCOTLAND HAS STEADILY BEEN DECREASING. BUT THIS LOOKS SET TO CHANGE.
MEET THE NEW GENERATION OF FEMALE ENTREPRENEURS WHO HAVEN’T LET THE WORST ECONOMIC CONDITIONS IN 50 YEARS PUT THEM OFF TURNING THEIR BUSINESS DREAMS INTO REALITY. NICOLE MAGUIRE-HOGG, 33, co-founder of Beauty Technology Best friends Nicole and Joanne Josey (31) launched Beauty Technology in May 2008 with the aim of creating better products for the beauty industry. With over 26 years experience between them, their first product, The P.s Waxing System which is set to transform the way waxing is carried out in salons, will launch later this year.
NICOLE MAGUIRE-HOGG
‘I WOULD LIKE TO SEE MORE WOMEN BECOMING INVOLVED IN CREATING AND DEVELOPING PRODUCTS FOR THE INDUSTRY AS I BELIEVE THEY HAVE THE POTENTIAL TO DO A BETTER JOB.’
Nicole explains: ‘Most beauty therapists use ‘pots’ of wax which are messy, unhygienic and difficult to heat properly. The P.s Waxing System works like a glue gun. Pressure is applied to the back of the applicator and heated wax is pushed out. Special nozzles can be fitted to the applicator to suit the area of the body that is being waxed. At the end of the treatment this nozzle is removed and thrown away, making the P.s Waxing System completely hygienic. ‘Joanne and I are beauty therapists, and we’re very good beauty therapists, but we’re not engineers. Neither of us had ever invented anything before and at first the P.s Waxing System was simply a dream. Fortunately, we were given a lot of help by EDTC Technology Gateway,
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And how do Nicole and Joanne think that being female has affected their business?
EVITA AKOMODE
‘I BELIEVE I HAVE A GOOD PRODUCT AND AFTER LAUNCHING THE STRENGTH-N-FLEX IN THE UK I PLAN TO TAKE IT TO EUROPE AND THE US. I BELIEVE THAT IF YOU WORK HARD YOU WILL BE REWARDED.’
Nicole says: ‘Unbelievably, the vast majority of the tools and technology used by the beauty industry, and by women at home, are designed by men - who have no experience of actually having to use these tools. I would like to see more women becoming involved in creating and developing products for the industry as I believe they have the potential to do a better job.’ www.kelvinbeautyrooms.com
JOANNE HALLEY, 30, launched Kennedy Purple, a rental service for designer handbags, jewellery and accessories. The inspiration for Joanne’s business came from one of her favourite films, Sex and the City: The Movie. Launched just four months ago, Kennedy Purple allows fashionistas to be seen with the latest ‘It’ bag for a fraction of the cost.
JOANNE HALLEY
‘WE HOLD SEVERAL EXCLUSIVE PIECES AND BRANDS AND TRY TO RUN AS MANY ITEMS AS POSSIBLE THAT HAVE BEEN SEEN ON CELEBRITIES. FOR EXAMPLE, WE CURRENTLY OFFER THE YSL GREY DOWNTOWN TOTE FOR £30 A WEEK.’
Joanne said: ‘The concept of ‘renting’ designer handbags came up in the Sex and the City movie, where it was referred to as ‘Bag, Borrow or Steal’. Sitting in the dark of the cinema, I thought to myself, ‘What a great idea…’ I began looking into the logistics of launching such a company and here I am, two years after seeing the film, running Kennedy Purple.’ For Joanne, the past few months have been hectic - but fun. She still works as a freelance television editor, working on popular shows such as
Location, Location, Location and Embarrassing Bodies. Joanne continues: ‘Kennedy Purple is the only site in the UK which rents in all three categories - handbags, jewellery and accessories. We hold several exclusive pieces and brands and try to run as many items as possible that have been seen on celebrities. For example, we currently offer the YSL Grey Downtown Tote for £30 a week. This bag would cost £1,162 to buy in the shops and is a favourite amongst celebs like Kylie Minogue and Kate Moss. ‘Due to the nature of my business I think that being a woman is a benefit. I have a natural passion for fashion and love being able to help other women across the UK to add a special touch to any outfit. However, since launching Kennedy Purple I have had to deal with some people who assume that, because I am female and my business is fashionbased, I can’t also be intelligent and business-savvy. This is not the case. I love running Kennedy Purple but running a business - any kind of business - takes an extraordinary amount of hard work.’ www.kennedypurple.com
EVITA AKOMODE, 23, who runs Optimal Athlete Design, aims to reduce sporting injuries. Optimal Athlete Design develops innovative products that enhance the physical performance of athletes to the highest level. With assistance from the Innovators Counselling and Advisory Service for Scotland (ICASS), Evita is currently developing fitness equipment, the Strength-N-Flex, that will enable the user to prevent and rehabilitate muscle strain - a common complaint in the sports industry. M
part of Edinburgh Napier University. They helped us source materials, test prototypes and put us in touch with their contacts who could mass produce the product.’
LADIES WHO LAUNCH
CLEO CAMERON
Evita plans to officially launch her equipment in October this year, after current product trials have been completed. She has already had interest from potential clients including one of the world’s biggest gym chains. Evita also plans to target sports clubs, health clubs and hospitals across the UK. She said: ‘I’m an ambitious person. I believe I have a good product and after launching the Strength-N-Flex in the UK I plan to take it to Europe and the US. I believe that if you work hard you will be rewarded - I am working very hard just now so I look forward to the rewards. ‘I don’t believe that being a woman in business has made any difference at all. I have a great product, a strong work ethic and a determination to succeed - and that’s why Optimal Athlete will go far, regardless of gender.’ www.optimalathletedesign.co.uk ANNA MARION
‘IN MY OPINION SUCCESS IS DETERMINED BY TALENT, COMMITMENT AND A LITTLE BIT OF LUCK BUT I ALSO THINK THAT BEING FEMALE CAN BE A GREAT ADVANTAGE.’
ANNA MARION’S, 23, jewellery firm, Oui! Designs, is just about to celebrate its first birthday. Anna said: ‘I decided to launch Oui! Designs because I wanted to have creative freedom over my designs. I am always pushing myself to create something new and unique, and I did not want to have my ideas limited by working for a big company. However, setting up on my own hasn’t been easy. Over the past year I have had many sleepless nights worrying that it will all go wrong. Fortunately I have had a tremendous amount of support from my family and friends who have always encouraged me to follow my heart and do something I love.’ Anna currently has a workshop set up in her garage and her jewellery is sold via her website and in Glasgow’s Merchant City. Her work is also a featured designer in design studio Che Camille, where she has curated exhibitions of narrative jewellery and collaborated with several fashion designers to create complimentary pieces for the catwalk. Anna hopes to launch a Gallery Café where local artists can showcase their work in a relaxed and friendly environment.
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JILI ALLEN
She added: ‘In my opinion success is determined by talent, commitment and a little bit of luck but I also think that being female can be a great advantage. There is a wealth of additional support for women setting up in business and I have met some really inspiring women since I launched Oui! Designs.’
course I miss him, but the development of a private clinic can take between five and ten years and I do not wish to be living in London 10 years from now. I am focussing on the long-term and creating a better quality of life for us both.’ www.todayshomeopathy.co.uk
www.ouidesigns.com
CLEO CAMERON, 39, moved 400 hundred miles to find the best location for her firm, Todayshomeopathy. After researching population density, awareness of homeopathy, transport links and the saturation of homeopathy practitioners in cities across the UK, Cleo took the decision to set-up her clinic in Glasgow, despite never having visited the city. She said: ‘There was already a long established homeopathic hospital in place in Glasgow, meaning that there would be an established awareness of homeopathy within the populous. Glasgow is also one of the most densely populated areas of Scotland and the city has great transport links, meaning people have easy access to businesses.’ Cleo, who previously volunteered at a clinic in Botswana, knew that launching in Glasgow made good business sense, but moving from London was still a big step. She said: ‘The last two years have been a massive challenge. My husband still works and lives in London, and we travel to see each other at the weekends. This can be draining at times and of
JILI ALLEN, Graphic designer has her sights set on the fashion industry as she prepares to launch her own range of high quality shoes. After completing a work placement at American Vogue where she received great feedback on her individual shoe designs, Jili realised that her dream of launching her own range of footwear could become a reality. Set to start officially trading in September, Jili’s fledgling firm will supply limited edition ladies shoes to luxury fashion boutiques. Trading wholesale, the initial collection will consist of seven pairs of original and numbered shoes per season. Jili said: ‘According to my research, no limited edition ladies footwear brands exist within the UK other than ‘bespoke’ footwear providers and sport shoes so this is really exciting!’ With a predicted turnover of £210,000 in her first year, Jili says being a women in business is a real advantage. She added: ‘Being the multi-tasking fabulous females we are, I think we can’t really go wrong!’ www.jiliallen.com
WHICH ENTREPRENEURIAL
EASTENDER ARE YOU?
UBUDDING ENTREPRENEURS FROM ACROSS SCOTLAND HAVE BEEN HANDED AN UNLIKELY HERO IN THE FORM OF EASTENDERS STALWART IAN BEALE.
1. Why did you want to launch your own business? A) The recognition! B) The money! C) For fun! D) So that you could be your own boss, as well as the boss of everyone around you!
SINCE LAUNCHING A KNITTING BUSINESS AGED JUST 16, HE HAS BUILT UP HIS EMPIRE AND NOW OWNS MANY OF WALFORD’S MOST SUCCESSFUL FIRMS.
2. An important work meeting is taking place on the same night as a family member’s surprise birthday party. What do you do? A) Invite the other attendees from the meeting to the birthday party. The more the merrier. B) Go to the work meeting, the family will just have to understand. C) Go to the party! Work can wait! D) Demand that the meeting starts earlier and the party starts later.
TAKE OUR QUIZ TO FIND OUT WHICH ENTREPRENEURIAL EASTENDER BEST REFLECTS YOUR BUSINESS STYLE.
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QUIZ - WHICH ENTREPRENEURIAL EASTENDER ARE YOU?
3. Business has been very quiet recently. How do you deal with it? A) Refuse to give in. The business, and your reputation, must be saved. B) Cancel Christmas at home and turn off the heating at work. C) Stop looking at the books. What’s the point if they’re only going to depress you? D) Work harder! 4. One of your longest serving staff members begins to show up late for work on a regular basis. What do you do? A) Have a heart-to-heart B) Sack them immediately. Serves them right. C) Who cares? You’re never on time either… D) Read them the riot act to remind them that you’re in charge - then have a quiet word to check that everything’s alright. 5. You have a busy day planned at work, but you wake up feeling ill. What do you do? A) Pull yourself together and get on with things. B) Go into work and spend the day moaning and sneezing over your employees. C) Pull a sickie and snuggle up on the couch for a ‘duvet day’. D) Stay in bed. But with your phone right by your side.
6. How do you reward your staff for all of their hard work over a busy period? A) With a great big knees-up! B) Your business only survived the recession because of your hard work the staff don’t deserve anything. C) Tell them all to take a week off! D) The recession is over but the hard work is not - there is no time for rewards! 7. You arrive at work one morning to find that a competitor has opened next door. What do you do? A) You know your customers appreciate you. They won’t be tempted to go elsewhere. B) Cut your prices dramatically – your customers don’t need to know that the quality has also been affected… C) Have a cup of tea and natter with your new neighbour. D) Have a sly word, maybe you can find a way to work together that benefits both parties…
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QUIZ - WHICH ENTREPRENEURIAL EASTENDER ARE YOU?
ANSWERS MOSTLY A’S YOU ARE… PEGGY MITCHELL You are at the forefront of your business. You can juggle your home life and work life no problem and no matter how mad things get at home you never let it affect your job. You are always able to face employees and customers with a bright smile and friendly attitude - making you a popular person to do work with. A true professional!
do. Unfortunately, running a business is not at the top of your list of priorities - which could cause you some problems. ‘Yummy Mummy’ Tanya Branning moved to the Square in 2006 on a mission to transform the residents of Albert Square in her beauty salon, Booty.
The name most commonly associated with Albert Square’s favourite boozer is Peggy Mitchell. The Mitchell Matriarch is the heart and soul of the pub - and no matter whose name is above the door, she will always see herself as the Queen of the Vic.
Unfortunately, Tanya’s loverat husband Max has caused her some major problems and she has found it hard to cope. All of the drama in her life meant that Booty was rarely a priority and just when it seemed that things were finally going smoothly for the Branning family, the recession bit and the salon was put into administration.
MOSTLY B’S
MOSTLY D’S
YOU ARE… IAN BEALE Your success in business is what makes you what you are. For you, work comes first - even before your family at times. You have an empire to run and nothing - NOTHING - can be allowed to get in your way. This has caused you to have strained relationships at times. Ian is tireless in his attempts to make more and more money – even acting as a loan shark to some of Walford’s more humble residents in their hour of need. His determination to succeed has made him some enemies on the Square amongst employees, neighbours and even his own family!
MOSTLY C’S
YOU ARE… ZAINAB MASOOD Your straight-talking style often makes you unpopular with co-workers and employees - but you don’t really care. Although you can be rather abrupt at times, you are always fair and you are an astute and successful businessperson. When Zainab Masood first arrived in Walford she owned a string of Post Offices. Unfortunately the Post Offices ran into financial difficulty and she was forced to shut them down. Zainab has a strong work ethic and has made a success of Masala Queen. The classic battleaxe, Zainab is in her element as the head of her family, bossing her husband and children around both at home and at work.
YOU ARE… TANYA BRANNING For you, running a business is really just a hobby - not something to be taken seriously. And it isn’t even your favourite hobby. You have a family to look after, love life to organise and socialising to
WHAT’S YOUR IDEAL CAREER? SHARE YOUR RESULTS AT WWW.NEWSTARTSCOTLAND.COM
GERRY CAREY
REDUNDANCY
AN OPPORTUNITY IN DISGUISE?
THE NUMBER OF SCOTS UNEMPLOYED HAS RISEN TO OVER 200,000, HAVING SOARED BY MORE THAN 9,000 IN THE THREE MONTHS TO NOVEMBER.
OFFICIAL STATISTICS SHOW 202,000 PEOPLE ARE NOW UNEMPLOYED, A RISE OF 61,000 SINCE THIS TIME LAST YEAR. Holyrood Enterprise Minister Jim Mather said the rise in unemployment was "disappointing" but said Scotland was continuing to fare better than the rest of Britain following the recession. But being made redundant has had a positive effect on some new start entrepreneurs who have seized the opportunity to do things their own way and become their own boss.
GERRY CAREY - The Streat Former retail director, Gerry Carey, is just one of the thousands of Scots who lost their jobs during the downturn. Having been made redundant from Rangers Football Club, Carey felt he had no other option but to launch his own business. With no lightbulb euerka moment, Carey turned his attention to franchising. Spotting a venture that had been voted the Best Emerging Franchise, he knew he was on to something. He said: ‘Before being made redundant, I was in the throws of franchising the Rangers FC shops, so I knew a bit about franchise models. I happened upon an Irish cafe concept, The Streat Cafe, and stumbled into buying the master franchise for Scotland.
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CALUM STEWART
‘There was already some meat on the bone with 24 cafes operating succesfully in Ireland and the earning potential is great.’ Since launching the country’s flagship outlet in Glasgow last year, Carey has added a third store in Airdrie. And after exhibiting at last year’s New Start Scotland Carey is currently in discussions with prospective new franchise owners to open in East Kilbride, Newton Mearns, Clydebank, Livingston and in Aberdeen. His aim is to have 25 outlets over the next five years. www.thestreat.com
‘I HAPPENED UPON AN IRISH CAFE CONCEPT, THE STREAT CAFE, AND STUMBLED INTO BUYING THE MASTER FRANCHISE FOR SCOTLAND.’
JOHN DAVIES THINKSCIENCE Ever since John Davies was a young boy, he knew he wanted to work in science, so when he secured a job at Glasgow Science Centre before it opened to the public, he thought it was meant to be. Unfortunately a number of cutbacks eight years later meant Davies was made redundant.
Keen to continue his passion for science, he decided to launch his own firm, thinkScience, providing educational and informative workshops for children. The company is now about to celebrate its one year anniversary. Davies said: ‘I worked at the Science Centre for eight years and loved my job - so I was devastated to be made redundant. For me, communicating science theory to children in a fun, inventive and easy-to-understand way is a real passion and setting up thinkScience Ltd has enabled me to continue doing what I love. ‘After being made redundant, I was lucky enough to be offered another job relatively quickly. However, I felt that I had been given a golden opportunity to continue doing what I love, so I turned the job down. I have two young children, so this wasn’t an easy decision to make, but my wife has been very supportive and the kids have been great for practising my workshops on!’ www.thinkscience.co.uk M
JOHN DAVIES
MAGGIE STANFIELD
MAGGIE STANFIELD - WRITTEN WORDS When Scotland’s venture into a daily business paper, Business a.m, failed, journalist Maggie Stanfield decided to go it alone instead of looking for another position elsewhere. Using her redundancy package, Stanfield launched Written Words, a communications consultancy. Media is a fiercely competitive environment and redundancies in Scotland meant the marketplace was full of others in similar situations. Keen to raise the agency’s profile, Stanfield secured the media management work with the Dalai Lama’s visit to Scotland in 2004. Written Words has continued to thrive and to extend its scope and going truly global continues to be a priority. Stanfield is convinced there is a lot of talk but very little action among small businesses when it comes to selling their products in other countries, something that her firm has been keen to capitalise on. The firm has provided media management services to the EU on projects in Brussels, BosniaHerzegovina, Romania, Syria, the Philippines, India and Ukraine. www.writtenwords.eu
IAN PIRRIE - EDINBURGH SCHOOL OF FOOD AND WINE When ex-banker Ian Pirrie lost his job last year at the Royal Bank Of Scotland, he decided that running his own business was his best option. Although the former Scottish regional director of RBS was offered a similar position down south, Pirrie didn’t want to relocate. As food had been his lifelong hobby, redundancy enabled Pirrie to pursue his dreams. He now runs the Edinburgh School of Food and Wine.
He said: ‘After redundancy, I didn’t look for employment elsewhere as in terms of financial services, there were not many options available to me, the market is too thin. However I saw this as a good opportunity to do something on my own. ‘I had always been passionate about food and education. This combines both and allows me to use my financial and management skills and experience to develop a business which I believe has an exciting future.’ www.esfw.com
CALUM STEWART - OVENU Entrepreneur Calum Stewart ran his own business installing entertainment systems within new build homes for the past 12 years. But when the construction industry began to struggle in the economic downturn, the company ran into difficulties and he was forced to go into voluntary liquidation. From having a succesful business with seven employees, Calum found himself unemployed. Refusing to give up, he decided to start again and looked into franchising. He now runs the Glasgow South West franchise for Ovenu, an affordable and specialist oven valeting and cleaning service. Having been in business for almost a year now, Calum already has his sights set firmly on expansion. www.ovenu.co.uk
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THERE MUST BE MONEY RECYCLING
MOBILE PHONES OVER THE PAST YEAR MOBILE PHONE RECYCLING HAS BECOME ONE OF THE FASTEST GROWING SEGMENTS OF THE GREEN INDUSTRY. Approximately four million people will opt for a phone upgrade this year but only 3% of them will recycle their old mobiles, suggesting most people don’t understand the recycling process. A recent survey from mobile company Nokia found that 75% of Brits do not know how to go about recycling a mobile phone - somewhat surprising, given the number of TV adverts constantly asking viewers to pop their phone in a free post envelope. And according to Cerebral palsy charity Scope, there are 90 million old mobiles gathering dust across the UK. The charity, which saw a huge increase in old phones being donated just after the festive period, hopes to have broken the Guinness world record for the most mobiles recycled in one week which currently stands at 952 phones. Whilst mobile phone recycling may be fairly new to many users, a former Lehman Brothers’ investment banker is on track to quadruple his mobile phone recycling firms’ turnover within the next 12 months, following a rebrand. Launched eight years ago by Colin ArmstrongBell, Greener Solutions, thought to have been the first company in the UK to offer recycling for old mobile phones, will now be known as Zonzoo. Armstrong-Bell says turnover will reach £100 million by the end of 2010 as he grows the company to become the largest of its kind in Europe. Having already launched in Spain and Germany, the UK roll-out earlier this month will be followed by an ambitious target of two European countries per month. Armstrong-Bell already has his sights set on Russia, the United Arab Emirates, and Hungary.
He said: ‘Outwith the UK, I’ve got one small competitor maximum per country. We’re looking to create one powerful European brand name so we launched in other countries purely as there are no competitors there. I knew Scotland was going to be the safest market so I didn’t need to rush it, it would play catch-up quite nicely.’ Armstrong-Bell believes when it comes to recycling mobile phones, ‘Scotland is without a doubt more proactive than other countries.’ He said: ‘The UK leads the way every time. Other European countries are just not as forward thinking as people in the UK and Scotland are. It stems from when the mobile phone market started, it launched in the UK before any other European country.’ As well as providing consumers with cash for their old phones, on average £30 is paid per phone, Zonzoo also donates five percent of the phone’s value to the user’s chosen charity. Contact www.zonzoo.com
INTELLECTUAL PROPERTY
MAKING A MEAL
OUT OF NOTHING
WHEN PETER MCLEAN DROPPED OUT OF A SPORTS SCIENCE DEGREE AT UNIVERSITY, HE DIDN’T KNOW WHAT TO DO WITH HIS LIFE. FOUR YEARS ON AND HE NOW RUNS HIS OWN BUSINESS WITH A TURNOVER OF OVER £500,000. HAVING RETURNED TO UNIVERSITY TO COMPLETE A HOSPITALITY MANAGEMENT DEGREE, PETER DECIDED TO LAUNCH A NUTRITIOUS FAST FOOD OUTLET. BUT WITH START-UP COSTS COMING IN AROUND THE £1.5MILLION MARK, HE KNEW HE HAD TO PUT THOSE PLANS ON HOLD.
backwards to a level that I could invest and get things going. I walked passed Harvey Nichols and I didn’t think their hampers were that good and I thought I could do better, so I did. I set up the business and launched three weeks before Christmas. In those few weeks we sold £10,000 worth so that was really my market research.”
Taking steps backwards, Peter launched The Foodie Company which offers modern and funky food hampers, known as Foodieboxes, as well as a café in Edinburgh.
Launched in 2007, Foodieboxes aim to breathe life back into hampers and support young Scottish food manufacturing companies at the same time. Peter uses several new start Scottish businesses to fill his hampers with jams, porridge bars and luxury chocolates amongst other items. Since starting, the number of boxes sold has doubled each year with orders coming from as far away as
Peter says: “As a student, I didn’t really have over a million pounds in my back pocket. Instead of saying, no that’s not possible, I set milestones
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‘PETER ADMITS HE IS ‘MASSIVELY AMBITIOUS’. ALREADY EMPLOYING 15 STAFF, HE IS LOOKING TO GROW THE BRAND WITH THE LAUNCH OF AN OUTSIDE CATERING ARM.’ America and Canada. And the boxes have proved so popular that buyers from Harrods have been in touch to see about stocking them. But the past few years haven’t always been plain sailing. One of the company’s biggest start-up costs was the packaging for their hampers. Peter originally started working with Dundee-based Prisme Packaging who recently hit the headlines after their workers camped out in the factory to force their employer into paying legally required redundancy payments, following the company’s decision to dispense with its entire workforce. Peter said: ‘Before this happened, the guy that ran Prisme Packaging took the cheque from me and never delivered. My PSYBT start-up loan of £5,000 disappeared and I never saw anything. I took Prisme to court, took them on myself and won. But the day the judge ruled in our favour was the day the company went bust so we never got our money back. ‘This guy had 50 years experience in the industry, knew what he was doing and took me for a ride. The experience of working with the legal system was a bit of a learning curve but I learnt a lot of lessons from it.’ And problems with securing bank funding almost caused the firm to miss out on a great location for their first café. Peter said: ‘We tried going through the banking route when we needed to raise working capital but it was a nightmare. After preparing an in-depth business plan and attending lots of meetings, we got a letter from Lloyds to say our loan had gone through, but it never actually hit our bank account. They kept delaying, saying the money was coming
soon but it never arrived. We eventually tore it up and went back to PSYBT for additional funding. ‘I believe the banks have quotas to meet and we were simply part of that.’ But Peter firmly believes part of the job of an entrepreneur is to overcome problems on a daily basis and he opened his café in August last year. Despite being less than a year old, the fresh food and themed nights has led to the outlet already becoming profitable, tripling the daily turnover of the coffee shop that previously occupied that site. Peter admits he is ‘massively ambitious’. Already employing 15 staff, he is looking to grow the brand with the launch of an outside catering arm. The firm is also due to move to premises three times their current size over the next couple of months.
DIARY OF AN
ENTREPRENEUR FLOOR FITTER TURNED ENTREPRENEUR SCOTT MORRISON (32) IS TAKING ON THE LUCRATIVE HANGOVER CURE MARKET WITH THE LAUNCH OF HIS NEW BUSINESS. Along with brother Ryan (29), the two are launching B4s (Befores), a proven natural detoxifying recipe which among other health benefits, eases the effects of hangovers The product, which contains nothing but activated carbon, was created in 1986 after which it spent 10 years in testing. It is already hugely popular in America. Scott shares a week in his life with New Start as he tries to get his fledgling business off the ground.
MONDAY I start the week reading up on the weekends alcohol related news. It gives me ideas on how to develop the product, but also identify some of the big players in the industry. Because we’re still just starting out, I feel like I have so much more to learn about the alcohol and hangover industries. Today’s meeting with my bank manager at Royal
Bank of Scotland goes really well. We’re still waiting to secure funding but they’ve been really helpful so far. You hear some horror stories about businesses struggling to deal with banks but we have been quite lucky. Lunch meeting with our web designer. We’re currently in the process of re-launching the brand, starting with the website. I have a few designs to take away with me and think about tonight. I’m back in Paisley taking calls for my ‘day job’. I am a floor fitter which I enjoy doing, but it’s not really my passion. The recession has really affected the business as fewer numbers of people are renovating their homes and needing my services but you do the best you can. I meet up with my brother Ryan to discuss the web designs from earlier. We’re both very different so coming to an agreed decision is a bit of a battle but we get there in the end.
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‘I’VE BEEN KEEPING A CLOSE EYE ALL WEEK ON THE GOVERNMENT PLANS TO INTRODUCE MINIMUM PRICING FOR ALCOHOL. ALTHOUGH IT DOESN’T DIRECTLY AFFECT MY BUSINESS, IT’S AN INTERESTING CONCEPT, ONE I HAVEN’T MADE MY MIND UP ABOUT YET.’
TUESDAY
THURSDAY
It’s an early start as I have to get to a customer’s house in Renfrew before 8am to start fitting a floor. It’s a big job but time is tight as I have meetings back to back during the afternoon for B4s.
I have a meeting with our design company who are re-branding the packaging. This is familiar territory for me because six months ago we were doing just this. Unfortunately, it turned out that the old packaging didn’t comply with UK standards so we had to start again. It was definitely a learning curve. Luckily, we’re in a good position this time around and the process is coming along a lot quicker.
I get a phonecall from a newspaper who are keen to feature us. At the moment we’re trying to get the word out through some targeted PR. We decided to focus on the central Scotland to begin with, but we have big plans for expansion. It’s my brother’s birthday today so we’re having a big celebration. I take two B4s before heading out to prepare me just in case and take the remaining four capsules with me to take during the night.
I’ve been keeping a close eye all week on the government plans to introduce minimum pricing for alcohol. Although it doesn’t directly affect my business, it’s an interesting concept, one I haven’t made my mind up about yet.
WEDNESDAY
FRIDAY
I’m up early today with no sign of a hangover.
A slightly later start today. After dropping off some display boxes at bars across Paisley and Glasgow, I head to an entrepreneurial seminar at Business Gateway. They’ve been a great help so far and point me in the direction of Doug Richard’s School for Start Ups. I’ll look into it this evening.
After fitting a few floors for customers, I’m back at home checking on orders for B4s. Most of our orders come in the middle of the week when people are planning their weekend. We have quite a few in, so it’s a matter of updating the stock systems, packaging them up and getting them sent out on time. A meeting with my ICASS advisor, Brian Nugent, goes well. This has been really helpful with the launch of our company, from intellectual property to manufacture and distribution. Today we’re talking about the prospect of the patent being rejected. It is likely that everything will be just fine, but it’s always good to be prepared. Brian is a God-send.
A quick tour of a couple of newsagents to drop off more products to those who stock it. We get quite a lot of sales from these on Friday and Saturday nights. Eventually we envisage selling in larger stores, but at this stage we feel very lucky that the brand is trusted by those in the industry. I head back home to prepare for a night out of my own. I’ve got my B4s with me to ensure a hangover free Saturday morning. www.b4sonline.com
21
REASONS TO TURN TO SOCIAL MEDIA ‘SINCE LAUNCHING SEVEN MONTHS AGO, THE FLEDGLING ENTREPRENEURS HAVE BEEN INUNDATED WITH WORK AND CAN NOW COUNT WELL KNOWN NAMES SUCH AS OXFAM AMONG THEIR CLIENT LIST.’
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THE THREE STUDENTS BEHIND THE SCOTTISH SUN’S MR PAGE 3 COMPETITION, AIMED AT UNCOVERING SCOTLAND’S HUNKIEST MAN, HAD SUCH SUCCESS THAT THEY DECIDED TO LAUNCH THEIR OWN BUSINESS. While studying marketing at the University of Strathclyde Jonathan Price, Suzanne Fairbairn and Laura Marie Hamill were tasked with creating an online campaign to drive traffic to the newspaper’s website. They hit upon the idea of a male modeling contest, aimed at turning the tables on traditional page three beauties. Using social marketing tools such as YouTube and Facebook, the trio attracted over 500 votes, increasing visits to the Sun’s website by over 1,000 during the four week campaign. Jonathan said: ‘The project was a contest for us too, as if we ran the most successful campaign in Scotland, we would win a trip to New York. Needlesstosay, we came second, but this gave us the determination and drive that we needed to set up on our own.’ Having previously set up an online resource to enable students across the world to share study tips and learning materials, which attracted over 4,000 users from as far away as Japan and America, the three friends knew the power that social media had. Since launching seven months ago, the fledgling entrepreneurs have been inundated with work and can now count well known names such as Oxfam among their client list. The charity approached TwentyOne to assist them with an online campaign
for their sister music event, Oxjam, aimed at raising awareness of the effects of climate change. Encouraging people to ‘make their mark’ against climate change, an underground paint party in a secret location was organised and attended by headline acts who performed over the weekend festival. The trio also recently launched the world’s smallest fashion show for online jewellery boutique, Sparklecandy. Held at Yo! Sushi, the TwentyOne team used the sushi conveyor belt as a runway to showcase the jewellery. Social media was utilised in the run up to the event, with posts on social networks and blogs being circulated around the Sparklecandy community resulting in a sold out event with customers eager to enjoy the ‘real-life’ Sparklecandy experience. And a travelling sofa provided the ideal opportunity to promote the graphic design consultancy, Fission Creative. In order to communicate the firm’s personalised service, they took to the streets of Glasgow with the sofa to offer free brand advice. With a follow-up campaign on Skype, Twitter and Facebook, Fission built up client relationships and helped develop their brand personality. www.thinktwentyone.com
HOW TO
GET THE MOST OUT OF
CLOUD COMPUTING A FIFTH OF UK SMALL FIRMS ARE TURNING TO ‘CLOUD COMPUTING’, RESEARCH FROM MICROSOFT HAS FOUND. SCOTT MCKENZIE
INSTEAD OF PURCHASING SOFTWARE AND HAVING TO INSTALL IT ON THEIR PC, THOSE WORKING WITH CLOUD COMPUTING USE THE INTERNET TO SUPPORT WORK-RELATED TASKS SUCH AS STORING AND SHARING INFORMATION. Smaller firms are increasingly turning to cloud technology as a cheaper option saying traditional business applications like Microsoft are too complicated and expensive to run. Even the public sector is jumping on the bandwagon. The NHS recently announced a £6 million deal for the UK government cloud computing programme to support the NHS’ ongoing commitment to green IT. Scott McKenzie at Cloud Logic,
Scotland's only Google Apps authorised reseller, believes Scottish start-ups should ignore cloud computing at their peril. He said: ‘Cloud computing and Software-as-a-Service is the way of the future for the delivery of business IT services. For start-ups and SMEs in particular, the installation and management of IT infrastructure makes no more sense than running an in-house diesel generator to meet your electricity needs. ‘It’s a distraction from your core business and a drain on valuable resources. But exploit the tools the cloud has to offer, and you can ensure your business doesn’t fall behind in the technology stakes but instead earns a serious competitive advantage.’
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‘EXPLOIT THE TOOLS THE CLOUD HAS TO OFFER, AND YOU CAN ENSURE YOUR BUSINESS DOESN’T FALL BEHIND IN THE TECHNOLOGY STAKES BUT INSTEAD EARNS A SERIOUS COMPETITIVE ADVANTAGE.’
Scott shares his top tips on how to get the most out of cloud computing to ensure your business soars above the competition. RECOGNISE THAT CLOUD COMPUTING IS SIMPLE AND CAN MAKE YOU HUGE SAVINGS. Everything happens inside your browser so there is no server to install, fix, update or maintain. All the hard work is done by the service provider. The result is enormous savings - both financially and in terms of the time you spend on IT issues. BOOST YOUR PRODUCTIVITY WITH GOOGLE APPS For only £33 per user per year, you can access a wide range of productivity tools such as 25GB mailboxes, shared calendars, mobile access and video chat. All of which are backed up by Google’s 99.9% uptime guarantee. Could your local IT company compete with that? SHARE FILES WITH COLLEAGUES AND CUSTOMERS With cloud computing, all your files and documents are stored centrally online so you can access them anywhere in the world. You can also allow others to access them as well. So if you’re in your office in Scotland and your client is in New York, you can both be working on the same document, at the same time, as if you were in the same room. INCREASE YOUR SOCIAL NETWORK Social networking is a great way for start-ups to reach out to prospective and existing customers.
Making sure you stay on your customers’ radar means you’ll be fresh in their mind when they’re ready to make a purchase. Facebook and twitter have become mainstays in the marketer’s toolkit for good reason. And as you grow, the imminent Google Buzz can help you build the same sort of communications network internally to maximize collaboration among your staff. MAKE ACCOUNTS SIMPLE Accounting and book-keeping are rarely the reasons entrepreneurs go into business but accurate financial records and forecasting are essential for a business to succeed. A recent clutch of cloud-based accounting services are now giving the old incumbents such as Sage and Quickbooks a run for their money by offering simple, clean and intuitive systems that meet the needs of UK start-ups and SMEs. Take a look at www.xero.com, www.clearbooks.co.uk and Scotland’s own www.freeagentcentral.com for the way forward. REDUCE YOUR RISK OF ATTACK As your PC doesn’t run the software or store data, cloud-computing reduces the risk of attack on your computer. However, effective anti-spyware software is still essential. Our favourite is Trend’s Worry-Free Business Security Services which combines the simplicity of standalone software with the functionality of an online control panel where you can view all the PCs in your business and check their status. www.cloudlogic.co.uk
EIGHT WAYS TO COOK UP A WINNING
STRATEGY
HUNGRY TO RUN YOUR OWN RESTAURANT? THEN READ ON FOR OUR TOP TIPS ON HOW TO MAKE THE MOST OF YOUR MEALS. 1. GO BACK TO THE CHOPPING BOARD The hospitality and catering industry is a competitive market, with over 1,500 restaurants in Scotland’s central belt. Creating a point of difference is crucial. While running your own burger chain might be your idea of heaven, can you realistically compete in today’s market? Does your new venture have the potential to become a big money-maker? 2. DON’T GO DOWN THE SNAIL PORRIDGE TRAIL Consider what type of cuisine you’re going to offer and keep it to a single style. While a menu offering both cheesy chips and Thai green curry may sound appealing to you, chances are it will confuse many diners. And although Heston Blumenthal has had huge success offering dishes like snail porridge and bacon & eggs ice-cream, it takes great skill to pull these off. By all means, offer creative and innovative food, just know where the boundaries lie. Obscure concepts don’t attract customers.
3. PLAN MORE THAN YOUR MENU In order to succeed, every business needs a business plan, including aspiring restaurateurs. Done correctly, a business plan will make things easier and help you plan what direction your business is going in. This plan should outline your goals and strategies. Other information you should include is details about the proposed concept, menu and pricing; an analysis of the target market; marketing and/or advertising plans; staffing needs; and specific details about financing plans. This will give you a viable road map and a professional package to show the bank or investors when you're shopping for funding. 4. IS THERE AN APPETITE FOR YOUR IDEA? Before you launch, and invest all your life savings, conduct some primary research to ensure there is demand for your new eating pad. No matter how good you think your idea is, or how good your new head chef is, unless customers agree, you won’t have a business. Easy ways to survey the local market include using tools like direct mail, e-mail blasts or telemarketing. But in the restaurant industry, it's often better to go right to your prospective customers.
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5. LOCATION, LOCATION, LOCATION The key to any successful restaurant is its location. Many eating establishments benefit from passing trade as they continue to build up their reputation. Try thinking about your location from a customers point of view - is it easy to get to, is there sufficient parking? Using a building that was previously used as a restaurant can often be a good choice. Not only will you spend less money in refitting the inside, you may also benefit from the previous owner’s established clientele. Customers are always curious to try out something just because it’s new. When you’re ready to start looking for the perfect location, a real estate agent can help you find a facility that meets your specific needs and your budget. To find affordable restaurant equipment, check the local newspaper for restaurant auctions, or try your luck on an online auction website like eBay. 6. COOK UP THE RIGHT TEAM When you’re starting out, it might seem tempting to cut your costs when it comes to staffing, but remember, in this industry, reputation is everything. Although your budget will be getting stretched in all directions, hire the best you can afford. The extra expense for an experienced head chef often pays off in the long term. Remember that it’s not just restaurant staff you need. Just like any other business, you’ll need experts who can advise on accountancy, health and safety and training. Use these professionals only for the services you require. If you believe you already have the experience to handle these items yourself, purchase a package of services to keep your startup costs manageable.
7. SPREAD THE WORD Many restaurants don’t advertise as they believe word of mouth and a well chosen location will be enough to promote their business. And while many customers vote with their feet, it doesn’t hurt to give things a little boost, especially when you first open. Consider holding an opening night and invite local businessmen, local press and MPs. Get in touch with local magazines and offer them a free lunch in return for a review of your restaurant. Depending on your eatery’s style, consider offering special discounts. Kilt and suit hire specialists Moss Bros offer service men and women a discount - if it works for them, it might just work for you. 8. DELIVER ON TIME Under-promise and over-deliver. While we’re not recommending selling yourself short, make sure that you wow your customers. Owner and head chef Michael Smith of Michael Smith’s said: ‘We’re all feeding people - some of us just do it better than others. But in the process, don’t take yourself too seriously. I try to be humble and serve good food, because, as I like to remind myself, I’ve got my name on the front of the business and also on the trash can in the back.’
REVIEW
THE IPAD - ANY GOOD OR JUST AN OVERSIZED iPHONE? Fresh from its success with the iPhone, Apple are about to launch another gadget which will excite technology fanatics everywhere - the iPad. But don’t be too quick to ditch your mobile or camera though as this device doesn’t have either. So far the device has been received less warmly than its predecessor the iPhone. The iPad is more a work in progress, where features like the camera seem to have been intentionally omitted so Apple can leave customers hanging desperately for the ‘iPad 2.0’. How well this product will actually sell all lies in how well Apple manages to persuade us how much we really need it… which let’s face it they probably will. THE GOOD This oversized iPod gives users a decent 9.7“ screen. At half an inch thick it’s about the same size as a magazine but considerably heavier good for viewing web pages but not so good for holding up to your face for any length of time. The social networking addicts out there will be relieved to know the iPad comes in a 3G model, so they can get internet access on the go. The multi-touch screen, similar to the iPod will allow users to pinch, tap and flick to their hearts delight.
THE BAD Currently the iPad doesn’t come with a camera or web cam which is surprising and rather disappointing. Another feature which has been mysteriously omitted is a USB port, so users are dependent on the iPad’s dock. The backlight doesn’t compete with an e-reader’s electronic eye friendly ink and maximised apps simply look clumsy and pixelated. Farmville addicts and online gamers’ everywhere will be bitterly disappointed as there’s no flash player - Apple described it as ‘a security risk and a resource hog’. But whether they like it or not, flash is an important part of today’s web experience. But what really lets the iPad down is that users can’t multi-task, so they will only be able to have one active app and web page open at the same time.
%%%%% 3 OUT OF 5
WHAT’S ON WHEN 2010 APRIL TUESDAY 6 APRIL Breakfast Networking 6 Degrees Networking hosts this breakfast networking event with guest speaker. Marks Hotel, Glasgow. WEDNESDAY 7 APRIL Dinner with Donald Kerr, Director Bank of Scotland Part of Edinburgh Chamber of Commerce’s popular Premier Series Dinners. The George Hotel, Edinburgh. WEDNESDAY 14 APRIL Three Steps to Success Guest speaker Chris Perkins will encourage you to talk to strangers as part of this Edinburgh Chamber of Commerce networking event. King James Thistle Hotel, Edinburgh. THURSDAY 22 APRIL Business Network Scotland Network event helping to build long-term business relationships. Glasgow, Thistle Hotel. TUESDAY 27 APRIL HR Forum Renfrewshire Chamber of Commerce with MacRoberts Solicitors will provide HR professionals with the opportunity to listen to upto-date legal commentary. The Glasgow Airport Business Centre.
MAY THURSDAY 6 MAY Dinner with Simon Wolfson, Next Simon Wolfson, the chief executive of retail giant Next, is the key speaker at Edinburgh Chamber of Commerce’s Premier Dinner. Edinburgh. TUESDAY 11 MAY 6 Degrees Networking Evening Networking event with a guest speaker and optional pitch for YouTube and a podcast. Pickled Green Restaurant, Edinburgh. THURSDAY 13 MAY BNS lunch Adam Piggot from design consultancy Red Empire is the guest speaker at this Business Network Scotland lunch. Menzies Hotel, Glasgow. Barclays Business Springboard Seminar Free impartial advice on everything from business planning to finance, sales and marketing. Glasgow Science Centre JUNE THURSDAY 10 JUNE BNS Event Cathy Simpson from the Aberdeen Foyer charity is the guest speak at this Business Network Scotland networking lunch. Menzies Dyce Hotel, Aberdeen. TUESDAY 22 JUNE Network Elite The Small Business Club host this evening networking event. Royal Scots Club, Edinburgh.
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SOCIAL SCENE
A ROUND-UP OF SCOTLAND’S AWARDS AND EVENTS.
FORKLIFT TRUCK ENGINEERING APPRENTICE MARK MCROBERT (21) HAS BEATEN COMPETITION FROM ACROSS BRITAIN TO BE CROWNED THE TOP ENGINEERING APPRENTICE IN THE UK. MARK, FROM GLASGOW, WAS THE ONLY SCOTTISH CANDIDATE SHORTLISTED FOR THE PRESTIGIOUS AWARD.
SEVEN TRAINEES RECENTLY GRADUATED FROM THE TRAINING OPPORTUNITIES IN LOTHIAN (TOIL) PROJECT, AIMED AT GETTING YOUNG SCHOOL LEAVERS, WITH FEW OR NO QUALIFICATIONS, INTO THE JOB MARKET.
SUSAN MCDONALD AND CARRIE ARMSTRONG OF LAW FIRM HBJ GATELEY WAREING HELP LOAD THE 1.035 TONNES OF HOUSEHOLD GOODS DONATED TO STARTER PACKS GLASGOW, A CHARITY THAT HELPS HOMELESS PEOPLE SET UP NEW HOMES IN GLASGOW.
JANE RISBY-ROSE, CHIEF EXECUTIVE OFFICER, UBM LIVE AT INTERNATIONAL CONFEX HAS BEEN AWARDED WITH THE SECC’S FIRST COMMEMORATIVE CHAMPION AWARD.