BQ West Midlands Issue 10

www.bqlive.co.uk

ISSUE TEN: SUMMER 2015

END THIS ENVY We must stop demonising the wealthy, insists top professor PRECIOUS TIME The award-winning horologists creating beautiful timepieces A DESIGN FOR LIFE Glenn Howells on becoming the architect of his own success CHIPS OFF THE OLD BLOCK Timber firm brothers do their great, great grandfather proud ISSUE TEN: SUMMER 2015: WEST MIDLANDS EDITION

THE MAVERICK How an ‘arrogant’ jobless sofa surfer turned his life around

BUSINESS NEWS: COMMERCE: FASHION: INTERVIEWS: MOTORS: EVENTS

WEST MIDLANDS EDITION

BQ Breakfast - Daily insight, news and analysis to help grow your business. Register free at www.bqlive.co.uk Business Quarter Magazine

£2.95

We have the experience to help you successfully secure and enhance your financial future by offering specialist advice in a wide range of areas including: INVESTMENT PLANNING | RETIREMENT PLANNING TAX & ESTATE PLANNING For further information, or to request your complimentary guide to wealth management, contact Jan Bloomer on:

T E L : 0121 215 0926 W E B S I T E : www.andrewwhiting.co.uk St. James’s Place House, Central Boulevard, Blythe Valley Business Park, Solihull, B90 8AR

The Partner Practice represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website www.sjp.co.uk/products. The title ‘Partner Practice’ is the marketing term used to describe St. James’s Place representatives.

WELCOME

BUSINESS QUARTER: SUMMER 15: ISSUE TEN The original purpose of Business Quarter magazines was to celebrate success in a way that encourages aspiring entrepreneurs.

And no-one’s early success deserves celebrating more than Spencer Bloomfield’s. Just a few years ago, he was out of work, heavily in debt and sofa-surfing because of what he himself describes as ‘youthful arrogance’. Now he’s BQ West Midlands’ Emerging Entrepreneur of 2015, and inside we describe how his Yolo Food Company turned around his fortunes. The concept is simple: fast food and low prices, but only with healthy ingredients, and sold where people need it most. Another entrepreneurial focus appears in our interview with Professor George Feiger, the head of Aston Business School. He explains his frustration that aspiring young businessmen and women are almost shunned by our conservative – with a small ‘c’ – society once they start making serious money.

If this continues, he argues, we face losing our brightest talent to the USA. Another compelling opinion comes from retiring Birmingham Chamber of Commerce chief executive Jerry Blackett. He believes the West Midlands should gamble and establish an elected mayor – in a bid to bring in billions of pounds of new investment. Jerry also reveals that he believes new houses should be built on Solihull’s greenbelt – which is bound to interest

our Silhillian readers. Meanwhile, in The Big Issues, we offer our opinion on Jerry’s replacement – Aston Villa’s former chief executive Paul Faulkner. Back to entrepreneurs, we turn our attention to Craig and Rebecca Struthers, designing and creating watches worth tens of thousands of pounds in Birmingham’s Jewellery Quarter. We commissioned award-winning feature writer Maureen Messent to write the article.

Meanwhile, over in Shropshire, Kate Copestake – another top BQ correspondent – finds out all about Chuck and Paul Venables. She tells how this historical joinery company works on everything from Shakespeare theatre renovations to domestic kitchens. And BQ’s quality business writer Ian Halstead peels back the successful career of Glen Howells, the world-famous architect based in Birmingham.

Other content includes a round table of experts discussing how businesses can maximise exports in our Live Debate, and an analysis of the economy for SMEs in top accountant Ian Holder’s ‘As I see it’ feature. I hope you enjoy reading the magazine as much as we’ve enjoyed putting it together. Please send feedback to steve.dysonmedia@gmail.com.

Steve Dyson Editor, BQ West Midlands

Principal Sponsors

ROOM501 LTD Bryan Hoare Managing Director e: bryan@room501.co.uk EDITORIAL Steve Dyson Editor e: steve.dysonmedia@gmail.com DESIGN & PRODUCTION room501 e: studio@room501.co.uk PHOTOGRAPHY KG Photography e: info@kgphotography.co.uk Chris Auld e: chris@chrisauldphotography.com Jas Sansi e: sansi1@btinternet .com ADVERTISING Chancelle Blakey Business Development Manager e: chancelle@room501.co.uk t: 07786 070 772 Mike Moloney Business Development Manager e: mike@room501.co.uk t: 07801 849367

room501 Publishing Ltd, Spectrum 6, Spectrum Business Park, Seaham, SR7 7TT www.bqlive.co.uk Business Quarter (BQ) is a leading business to business brand recognised for celebrating entrepreneurship and corporate success. The multi-platform brand currently reaches entrepreneurs and senior business executives across Scotland, the North East, Yorkshire and the West Midlands. BQ has established a UK wide regional approach to business engagement reaching a highly targeted audience of entrepreneurs and senior executives in high growth businesses both in-print, online and through branded events.

Associate Sponsors

All contents copyright © 2015 room501 Ltd. All rights reserved.

While every effort is made to ensure accuracy, no responsibility can be accepted for inaccuracies, howsoever caused. No liability can be accepted for illustrations, photographs, artwork or advertising materials while in transmission or with the publisher or their agents. All company profiles are paid for advertising. All information is correct at time of going to print, May 2015.

BREAKFAS T

room501 Publishing Ltd is part of BE Group, the UK’s market leading business improvement specialists. www.be-group.co.uk

YOUR FREE DAILY DIGITAL BULLETIN PROVIDING BUSINESS NEWS ANALYSIS, BUSINESS STORIES AND EVENTS.

REGISTER NOW AT BQLIVE.CO.UK

CONTACTS

WEST MIDLANDS EDITION

03

BQ Magazine is published quarterly by room501 Ltd.

BUSINESS QUARTER | SUMMER 15

CONTE BUSINESS QUARTER: SUMMER 15 32 PRECIOUS TIME

READY TO BREAK OUT OF THE BOX

Dedicated horologists Craig and Rebecca Struthers take time seriously

36 END THIS ENVY

Features 22 BACK FROM THE SACK How jobless sofa-surfer Spencer Bloomfield turned his life around

30 LIVING IN A BOX Despite its success, SPAL Automotive is little known – but that’s set to change

Special Feature

We must stop demonising the wealthy, argues Professor George Feiger

66 BACKING A ‘BORIS’ The departing Chamber of Commerce boss on his support for a regional mayor

80 A DESIGN FOR LIFE Glenn Howells’ childhood helped him to become the architect of his own success

BUSINESS QUARTER | SUMMER 15

MAKING TIME FOR AN OBSESSION

84 CHIPS OFF THE BLOCK The duo behind Venables Oak are doing their great, great grandfather proud

49 LEGAL AND FINANCE QUARTER Your 16 page essential guide

30

04

32

TENTS WEST MIDLANDS EDITION

56 AS I SEE IT

Ian Holder believes small and medium enterprises should make further gains in the rest of 2015

STOP DEMONISING THE WEALTHY

65 WINE Accountancy firm partner Henry Briggs invites friends to a convivial blind tasting

Regulars

72 MOTORS John Kelly forgoes technology and gets back to basics in a classic Morgan

76 FASHION The edgy ‘rock ‘n’ roll’ designer who is striking a chord with men

08 THE BIG ISSUES A look at three major stories with farreaching implications for the region

12 NEWS Who’s doing what, when, where and why here in the West Midlands

46 COMMERCIAL PROPERTY Behind the region’s biggest new deals

78 HIGH LIFE

36 I’D SAY YES TO A REGIONAL ‘BORIS’

What sets the world’s most desirable champagne apart? It’s Cristal clear

88 BIT OF A CHAT With BQ’s backroom boy Bill Borde

90 EVENTS Gatherings, seminars and conferences that could boost your business

05

66 BUSINESS QUARTER | SUMMER 15

AVIATION NEWS

SUMMER 15

Thousands of Chinese tourists, a father and daughter pilot crew and a record year for Emirates. Steve Dyson reports on the latest news from Birmingham Airport >> £19m boost to economy

>> Move to strengthen the Irish connection welcomed Links between Birmingham Airport and Ireland have been strengthened by two regional airlines. Belgian carrier VLM Airlines has started flights on the Waterford-Birmingham route, running four times a week on Mondays, Wednesdays, Fridays and Sundays, using Fokker 50 aircraft. Meanwhile, Aer Lingus Regional, operated by Stobart Air, is restarting its Birmingham to Shannon service in June, running six return flights per week from £29.99. Arthur White, chief executive of VLM Airlines said: “We’re focusing on business and leisure travellers, providing them with fast, practical connections between the cities.”

Ronan Whitty, head of revenue management at Stobart Air, said: “Birmingham is one of Britain’s most popular cities for Irish passengers. The passenger demand for this service is there, and we will make a major push to develop and grow this route for business and leisure passengers.”

William Pearson, aviation development director at Birmingham Airport, said: “The strong links that exist between the two regions makes these services a very welcome addition to our existing network of flights to Ireland.”

BUSINESS QUARTER | SUMMER 15

Nearly 4,000 Chinese tourists are expected to arrive at Birmingham Airport this summer during the second year of charter flights from Beijing.

Hainan Airlines will operate twice-weekly flights from Beijing to Birmingham each Friday and Monday, starting on Friday 3 July and ending on the Friday 28 August.

The flights on Boeing 767-300 aircraft, with 233 seats – 34 in the business cabin and 199 in economy – are expected to contribute £19m to the regional economy.

Jo Lloyd, Birmingham Airport’s commercial director, said: “We are once again hosting the UK’s only direct charter flights from Beijing this summer and look forward to welcoming thousands of Chinese passengers.

“It paves the way for future sustainable scheduled flights into Birmingham from China that will support the growth in Chinese visitors.

“We are hopeful that future flight programmes will include departures from Shanghai and Guangzhou as well as Beijing.”

Chinese branding that reads ‘Birmingham Airport, Shakespeare’s Airport’ will be used in China to promote Birmingham as a gateway into the region.

Sally Balcombe, chief executive of VisitBritain, said: “China is a huge tourism opportunity for Britain. Our current share is small in volume but high in value.

“Chinese visitors already stay longer here than in our European competitor destinations and are high spenders – every 22 additional Chinese visitors we attract supports an additional job in tourism.”

• Meanwhile, Birmingham Airport and Guangzhou Baiyun International Airport have signed a Memorandum of Understanding (MOU) to formalise a working relationship and commit to developing links between the two cities.

06

>> Norwegian spreads its wings into Spain Norwegian, Europe’s third largest lowfare airline, has started its new flights to Madrid and Malaga from Birmingham Airport, with a third Spanish route launching this summer. The scheduled service to the Spanish capital operates each Tuesday, Thursday and Sunday, while the flights to Malaga run every Monday, Friday and Saturday. The third and final service to Barcelona starts on 1 June, flying each Monday and Friday. Thomas Ramdahl, chief commercial officer of Norwegian, said: “Now travellers in the greater Birmingham area can take advantage of Norwegian’s low fares and awardwinning service.” David Winstanley, chief operating officer at Birmingham Airport, said: “We’re confident that our business and leisure passengers will be impressed with Norwegian’s low fares and efficient service.” Norwegian will operate a 186 seat Boeing 737-800 aircraft, with a one service cabin and free wi-fi. Meanwhile, Icelandair has announced that it will increase services between Birmingham and Reykjavik from two flights per week to four, starting in February 2016. The new flights from Birmingham Airport will operate each Tuesday and Saturday, in addition to the current Monday and Thursday services, from 1 February to 28 March 2016.

THE BIG ISSUES

SUMMER 15

>> A top job for Aston Villa’s former chief executive, HSBC’s relocation to Birmingham and Jaguar Land Rover’s latest expansion. Steve Dyson comments on three huge business stories in the West Midlands >> Committed to Birmingham It was pleasing to learn that HSBC has re-affirmed its commitment to base its UK bank’s head offices in Birmingham – despite speculation that it may shift its global headquarters abroad.

The personal and business side of the bank is due to move to the second city’s Arena Central by the end of 2018, relocating around 1,000 jobs from London.

As the history books tell us, HSBC’s roots began in Birmingham with the opening of the first branch of the Birmingham and Midland Bank in 1836. The new rumour is that the UK arm of the company might be re-named Midland Bank, which would be so fitting.

>> Shouting loudly and proudly for the West Midlands The whole of the West Midlands should count itself lucky that Paul Faulkner, the former chief executive of Aston Villa, will be the new head of Greater Birmingham Chambers of Commerce.

Faulkner replaces chief executive Jerry Blackett, who leaves on 3 July after a stint of nine years that saw the Chamber battle through the worst recession for generations.

But while Jerry’s done a good job, it’s about time the city – and the region – had a higher profile leader to speak up for businesses, someone instantly recognisable to everyone from factory workers to London financiers.

We too often rely on the likes of former CBI chief Digby Jones – a solicitor from Birmingham – as the ‘leading’ business personality for the West Midlands.

And while Digby – now Baron Jones of Birmingham – can tell funny if somewhat repetitive after-dinner stories, I think he, and others like him, are well past their sell-by-date as far as young, aspiring entrepreneurs are concerned.

This is where Paul Faulkner can make a difference. He’s only 36 and yet already has nearly eight years senior experience at Aston Villa, the last four as chief executive, and a short spell at Nottingham Forest. This makes him approachable in terms of age and background: people in their mid-20s won’t feel intimidated talking to someone ten years older, while the Premiership makes a great starting point in any conversation.

It’s not just football where Paul’s made his mark: before Villa, he spent four years with MBNA Bank, and was a consultant with Michael Page.

But for me, what’s really telling is the time and effort Paul puts into non-paid roles. He’s associate non-executive director at Birmingham Children’s Hospital, and a trustee for Cure Leukaemia, Town Hall Symphony Hall and the Library of Birmingham Trust.

Paul’s also put down strong roots: he’s lived in Four Oaks, Sutton Coldfield, and his wife, Jayne, is a doctor at Birmingham Women’s Hospital.

All this gives me confidence that Paul will make a big mark for business, not only improving Chamber services for the region but also shouting loudly and proudly about the West Midlands in London and abroad.

BUSINESS QUARTER | SUMMER 15

08

HSBC has re-affirmed its commitment to base its UK bank’s HQ in Birmingham >> Business booms at JLR JLR has proved to the world that it’s literally bursting at the seams by producing the new Jaguar XE executive saloon at its Lode Lane factory in Solihull.

Until now, Solihull has been the exclusive home of Land Rovers and Range Rovers, but JLR’s £500m investment means the new Jaguar will be assembled on the same production line, creating another 2,200 jobs.

The company was unable to use Jaguar’s traditional home at Castle Bromwich, Birmingham, which has no room because of booming orders for the F-Type sports car, the flagship XJ and the XF.

SUMMER 15

COMPANY PROFILE

Compounding your way to wealth John Hodgson, head of Birmingham tax and business services at Smith & Williamson, the accountancy and investment management group takes an informed look at how to harness the power of compounding The power of compounding – the ability of savings to generate earnings, which in turn are then reinvested to generate earnings of their own - is a well-recognised wealth management principle. When this happens in a tax efficient environment, the benefits can be particularly worthwhile.

Each increment, by itself, might not be significant but compounded over time the accumulations can be impressive. Much depends on the incremental performance: with returns at 7% per annum, your wealth almost doubles in 10 years but it can take almost twice as long at only 4% per annum.

As a tax and business adviser, I can’t tell you how to maximise investment returns. However, the service I provide is in helping to ensure that the effects of everyday taxes are managed, potentially enabling you to accumulate wealth more quickly than would otherwise be possible. A 7% gross return might only be 5.6% net for a basic rate (20%) taxpayer or 4.2% for a higher rate (40%) taxpayer.

Simply put, by working with you and your family over time to manage your taxes, we can help to maximise your personal wealth. Our approach varies but is generally applicable regardless of

John Hodgson

Our approach varies but is generally applicable regardless of whether you are ‘ultrawealthy’ or ‘mildly affluent’

Annual investment by each member of married couple Annual investment by each member of married couple (£)

whether you are ‘ultra-wealthy’ or ‘mildly affluent’.

The difference is largely around how we tailor our advice and is balanced against personal control and accessibility. Consider, for example, government sponsored ISAs and UK pensions; the annual investments you make may be relatively modest but the compound benefits are undeniable. The principle of consistently saving each year in a tax-free environment helps to make the most of the positive effects of compounding. The figures below demonstrate how investments can accumulate for a married couple. It’s also worth noting that pension contributions have the additional benefit of tax relief when you invest, so for a higher rate taxpayer the annual £40,000 investment could cost £24,000 net of tax relief. And with changes to flexible pension drawdown now available, any previous concerns about accessibility to pension pots have, to a large extent, fallen away. While the March 2015 Budget announced that the first £1,000 (or £500 for higher rate taxpayers) of interest is not liable to tax, the above arrangements protect investments across much higher and wider forms of return, including income tax and capital gains.

Make compounding work for you by taking maximum advantage each and every year of the taxfree status afforded to ISAs and pensions.

Number of years for a couple to accumulate £1,000,000 assuming a 7% annual return

ISAs

£15,240

17

Pensions

£40,000

9

By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.

Smith & Williamson LLP is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. A member of Nexia International

09

T: 0121 710 5200 E: john.hodgson@smith.williamson.co.uk W: www.smith.williamson.co.uk

BUSINESS QUARTER | SUMMER 15

THE BIG ISSUES

SUMMER 15

>> As Birmingham Airport prepares to welcome Chinese tourists, John Duckers applauds its bosses for using history in its marketing

>> All aboard for Birmingham Well done to Birmingham Airport. They’ve done what I never thought they would – use Shakespeare to woo Chinese visitors.

And now I understand Birmingham Airport could soon be known as “Shakespeare’s Airport” in the USA as well as China.

I’ve been pushing the idea for nearly 20 years, and until now many city leaders told me I was off my head and that it was a rubbish idea.

But now Paul Kehoe, the airport’s chief executive, has been brave – and I reckon it will pay off. Because commerce is all about taking calculated risks.

After launching the brand name in China, to promote the proximity to William Shakespeare’s home town of Stratford-uponAvon, the airport is debating extending this into new territories.

Kehoe said that while he had been advised the Bard was not such a draw in the US, he still

BUSINESS QUARTER | SUMMER 15

believed it could help bring in tourists.

With new flights from the airport to JFK in New York, he thinks the Shakespeare brand is worth considering. Kehoe said: “The reason we used Shakespeare for the Chinese is there is a lot of interest there.

“When the Chinese Premier came here, he wanted to see the RSC and he said to us through an interpreter that Shakespeare was very big in China and we should make the most of it.

“We are still debating it. Personally, I think Shakespeare is still right for America. The average person in Chattanooga may not enjoy much Shakespeare but the sophisticates on the east and west coast do.”

Absolutely. A comparison would surely be Leonardo da Vinci International Airport near Rome.

That’s the global branding. Yet it’s known to the Romans as Rome Fiumicino Airport, or

10

simply Fiumicino Airport.

Why not promote Birmingham as Shakespeare International? No doubt everyone in the Midlands, in sync with the Romans, will still call it Birmingham Airport.

Names evolve – there are even a few oldies who still talk about Birmingham’s Elmdon Aiport!

For more comment from John Duckers, visit www.duckersanddiving.co.uk

When the Chinese Premier came here, he wanted to see the RSC

SUMMER 15

COMPANY PROFILE

Online flexible learning for business professionals The University of Birmingham is offering a number of its postgraduate distance learning courses through its online learning platform The programmes include a Masters in Business Administration (MBA) and a Masters of Science (MSc) in International Business, both from the awardwinning Birmingham Business School, as well as a Masters in Public Administration (MPA). Classes for all programmes start in September 2015 and applications are now being accepted.

The move presents a modern and more flexible learning alternative for career professionals.

Accessible on computers and all mobile devices, the University of Birmingham’s online learning platform allows for study with a prestigious academic institution while maintaining control over daily schedules in a way that goes beyond that of an on-campus degree programme.

The online MBA is conducted by Birmingham Business School and is ideal for professionals with three to five years of experience who are seeking to enhance their practical knowledge. The online format puts students in a strategic position to interact and network with peers from around the world in a diverse learning environment.

The MSc in International Business is also offered through Birmingham Business School. As with the MBA, modules are taught by scholars and experts in globalisation, accounting, finance, marketing, human resources and operations. This business course, however, is designed to offer recent graduates with the critical business skills and international outlook to gain a competitive edge in their career before they are eligible to enrol in an MBA. Birmingham Business School carries triple-crown accreditation with the Association to Advance Collegiate Schools of Business (AACSB), the Association of MBAs (AMBA) and the European

Quality Improvement System (EQUIS).

This gold standard places Birmingham Business School among just a handful of elite business schools worldwide.

The online MPA is organised by the Institute of Local Government Studies (INLOGOV), the University of Birmingham’s academic centre for research and teaching on local governance and strategic public management. This gives students who enrol an opportunity to study contemporary public administration theory and strategy while connecting with strategic links from many different locations in Europe and further afield.

Students will have access to the latest in digital media to experience more dynamic and interactive learning. Course curriculum encourages participation and connectivity through the use of video lectures, case studies, interactive assignments, digital resources and peer-to-peer social interaction.

Professor Glyn Watson, Director of Alternative Modes of Delivery, University of Birmingham said: “The launch of these three new programmes

The University of Birmingham is ranked amongst the world’s top 100 institutions (64 in the QS World University Rankings 2014/15). Its work brings people from across the world to Birmingham, including researchers and teachers and more than 4,000 international students from nearly 150 countries.

11

represents an exciting new opportunity for the University of Birmingham. They allow us to offer a high quality, state-of-the-art online learning experience to a constituency which, given their other commitments, would normally find it difficult to study at university full-time.”

Birmingham’s commitment to building a strong online learning portfolio is further demonstrated by the creation of a new department under the direction of Ian Myatt, formerly Head of Knowledge & Learning for BBC Online. Together with the University’s partnership with the Canvas online learning platform – a UK first – Birmingham aims to revolutionise the distance learning experience.

For further information contact, Tim Yates, Marketing and Communications Manager, Business Engagement, University of Birmingham, 0121 414 8635, t.yates.1@bham.ac.uk

BUSINESS QUARTER | SUMMER 15

NEWS

SUMMER 15

Smart concept allows firms to utilise talents of bright students, mentors sought to help budding entrepreneurs, bite-sized courses tackle Black Country skills shortages, NEC Group changes hands in £307m deal >> Funding creates new jobs

>> Flexible help at hand A company which utilises the skills of university students to provide virtual work support for busy entrepreneurs and professionals has been launched in Birmingham. Virtalent Ltd gives clients access to a flexible, virtual workforce without having to employ extra staff as they grow their businesses, and gives students paid work experience while still on their courses. Co-founders Sam Wilson and Ellie Bekalo, both aged 23, graduated from Aston Business School with a BSc in International Business and Spanish before setting up Virtalent. Ellie said: “We have a talent pool of carefully selected university students with a wide variety of skills from social media management to web design, law and much more. They can work flexible hours as virtual assistants, bringing fresh ideas and insight and add real value.”

Virtalent requires no minimum number of hours and no long term commitment from clients. Work is billed to the minute and overseen by a dedicated account manager.

Rates range from £16 to £22 an hour.

Sam added: “It’s ideal for businesses looking for motivated individuals.”

businessteam@bham.ac.uk www.birmingham.ac.uk/partners

BUSINESS QUARTER | SUMMER 15

Finance Birmingham has provided £800,000 of funding to ON-POWER Electrical Services – which has offices in Wolverhampton and Birmingham.

The cash will help to create 12 new jobs over the next three years on new contracts, including the University of Leicester’s Medical Science Building, the Weston Favell Shopping Centre in Northampton, and the new 19-storey Aurora Hotel in Greenwich.

Jonathan Billingham, managing director at ON-POWER, said: “This funding package will help to transform our business, and will ensure that we have the capacity to fulfil major contracts from larger firms.”

The funding came from the £9m local Regional Growth Fund programme and the £56m Mezzanine Fund managed by Finance Birmingham.

>> MTC proves inspirational A report which identifies the UK’s ‘most inspiring and fast-growing’ companies has listed the Manufacturing Technology Centre (MTC) in Coventry.

The MTC has been listed in the London Stock Exchange’s ‘1000 Companies to Inspire Britain’ report, now in its second year, which not only celebrates but also looks at the challenges and opportunities facing SMEs. The MTC was founded by the University of Birmingham, Loughborough University, the University of Nottingham and TWI Ltd, and opened in 2011.

Headed by chief executive Dr Clive Hickman, the MTC aims to bridge the gap between university-based research and real manufacturing solutions. Industrial members include some of the UK’s major global manufacturers.

>> Going for growth A seven-figure management buyout has been completed at New Leaf Plants, based in Evesham, Worcestershire, with backing from NatWest.

Established in 1985, the clematis and climbing plants grower supplies UK garden centres, and also exports to Europe and Ireland. It employs 52 staff.

David Higginson, the firm’s sales and marketing director, has bought the business and will now take on the role of managing director.

New Leaf Plants will relocate to a new site by summer 2016 as it buys the 20-acre Hillview Nurseries on Sandfield Lane, Evesham, which is expected to boost turnover to £4m.

David said: “Once our move to Hillview is complete, I plan on developing our offering overseas and becoming a worldwide brand, with both America and Japan being huge untapped markets.”

Tony Airey, director of structured finance for NatWest, worked alongside the bank’s relationship director Jeremy O’Grady.

Putting world-class expertise to work in your business

12

SUMMER 15

>> Mentors needed An organisation which helps new businesses get off the ground has called for more support for budding entrepreneurs.

Startup Direct, based at the Innovation Birmingham Campus and a partner of the Government’s Startup Loans scheme, has appealed for more business mentors to step forward. The organisation says local business people should put their own skills and experience to good use, by signing up for mentoring. James Pattison, chief executive officer, said: “Mentors aren’t expected to have all the answers, but can put their own knowledge, experience and passion to good use by offering advice when they can. It can be incredibly rewarding to see a start-up succeed when you have helped them.”

Mentors are being asked to give just 15 hours of their time over the course of the entrepreneur’s first year of operation, offering general guidance and support over the phone or face to face, as well as acting as a sounding board when needed. For more details, email jamespattison@startupdirect.org

>> Driving driverless research Warwick Manufacturing Group (WMG) has received £4.2m to create a simulator to help research driverless cars.

A majority £3.2m of the funding for WMG, based at the University of Warwick, has come from the Engineering and Physical Sciences Research Council (EPSRC), with support from industry adding another £1m.

The simulator will use a high resolution laser scan of 30 miles of real roads around Coventry to test any make of car in the simulator.

Professor Paul Jennings, of WMG, said: “We want to help accelerate the introduction of this exciting technology, which will help reduce congestion and improve driver and passenger safety and comfort.” Researchers in WMG’s Cyber Security Centre will also use the technology to research the cyber security of vehicles.

businessteam@bham.ac.uk www.birmingham.ac.uk/partners

>> The outlook is bright Economic recovery appears to be gathering momentum across the West Midlands with a noticeable drop in the region’s profit warnings.

Just one profit warning was issued in the first quarter of 2015, two less than the same period of 2014 and four less than the previous quarter, according to EY’s latest Profit Warnings report.

Meanwhile, EY said there was an increase in profit warnings nationally, with 5.4% (77) of UK companies issuing them in Q1 2015, the highest Q1 percentage since 2009.

The rapid fall in oil price at the end of last year contributed to 16 UK profit warnings.

Tom Lukic, EY’s restructuring partner, said: “The low number of profit warnings in the West Midlands is a sign of an improving local economy.

“The positive outlook in the West Midlands appears contrary to the overall national trend, which demonstrates that whilst there is increasing confidence it’s still a tough environment in which to plan and forecast.”

>> Chess Plastics’ smart move Chess Plastics has received £184,000 to invest in a modern injection moulding machine to meet increasing demands. The funding for the firm, based in Droitwich, Worcestershire, came from Santander Corporate & Commercial. The company supplies high-grade plastic products and makes around 40% of its sales to the UK car sector, where it has become a second-tier supplier to firms such as Jaguar Land Rover. Director Gareth Olden said: “The purchase of this Negri Bossi moulding machine is central to our long-term growth plans, and the funding package and support from Santander has been instrumental.” Santander’s relationship director John Hyde said: “This is a clear indication of the firm’s appetite for expansion.”

NEWS

>> A positive sign Midlands-based sign language interpreting agency, Sign Solutions, has won a contract to provide its services to the Isle of Man Government. The win will see the firm, based in Alvechurch, Worcestershire, provide its video relay service to the Isle of Man’s Department of Health and Social Care, with the possibility of other government departments taking up the service at a later date. People on the island using sign language as their primary form of communication had found attending hospital appointments difficult due to the communication barrier. The video relay service will work by connecting deaf patients to a fully qualified interpreter via an online video link, which can be accessed by desktop, tablet or smartphone. Sean Nicholson, chief executive at Sign Solutions, said: “We’re seeing more and more sectors enquire about our services and this latest contract win is a significant step towards a more positive future for deaf people.”

>> A capital performance West Midlands hotels outperformed those in London in revenue growth last year, according to a new report.

Hotels in Birmingham, Coventry and Stratfordupon-Avon all saw annual ‘rooms yield’ – otherwise known as revenue per available room – increase by 9%, 13.4% and 10% respectively, according to Hotel Britain 2015, the annual report by accountancy firm BDO. By comparison, London hotels’ room yield was up just 0.7%.

The West Midlands also recorded an increase in the average price paid per room.

Birmingham prices rose to £53.88 (up 7.3%), Coventry to £54.15 (up 10.9%) and Stratfordupon-Avon to £74.46 (up 7.5%).

Toby Stephenson, partner at BDO in the West Midlands, said: “For the first time in 14 years, regional hotels have outperformed their London counterparts and the West Midlands has been a key player in that success story.”

Putting world-class expertise to work in your business

13

BUSINESS QUARTER | SUMMER 15

NEWS

SUMMER 15

>> Self MADE man on a mission A businessman whose mission is to make fast food mouth-watering and healthy has won the title of ‘West Midlands BQ Emerging Entrepreneur 2015.’

Spencer Bloomfield, of Yolo Food Company, will now be invited to MADE: The Entrepreneur Festival 2015 in Sheffield in October to compete for the BQ National Emerging Entrepreneur of the Year title.

Bryan Hoare, managing director of Room 501, publisher of BQ West Midlands, said: “Congratulations to Spencer who was the worthy winner in an extremely strong field of contestants who bear testimony to the vibrant entrepreneurial culture in the West Midlands.

“BQ magazine is all about profiling and encouraging entrepreneurs and we are delighted to be able to showcase them at the awards and to give Spencer such an important national platform as the MADE festival, which has been described as a Glastonbury for business.”

Read more about Spencer and Yolo in our ‘Entrepreneur’ feature on page 22.

>> Tackling skills shortages

>> Firm expects 20% growth

The Black Country Skills Factory has launched a programme of bite-sized management and leadership courses, training manufacturing supply chain SMEs. The 12 courses were developed after a Black Country LEP skills audit identified skills shortages across the manufacturing sector. They will be delivered on-site, in host manufacturing companies, and will run until December 2015. Paul Linton, chairman of the Black Country LEP Employment and Skills Board, said: “These courses have been developed in partnership with employers and employer representatives to ensure the content will deliver the skills the sector needs to enable us to continue growing the Black Country economy.” For more information visit www.blackcountryskillsfactory.co.uk

A West Midlands specialist asbestos management company is taking on five new staff after opening a new office to meet increasing demand. Lucion Environmental, of Wolverhampton, will recruit the asbestos consultants over the next 12 months as it prepares for 20% growth to £1.3m by 2016 in its larger space at Pendeford Business Park.

Ross Folley, Lucion’s regional manager, said: “We are now busier than ever before and the move to new, larger premises provides a springboard for improving the delivery of local services.” The Wolverhampton office’s customers include Network Rail, Carillion, Wolverhampton University and Aberystwyth University. It’s part of the north east-based Lucion Services Ltd, which employs 170 staff nationally and has an £11m turnover.

businessteam@bham.ac.uk www.birmingham.ac.uk/partners

BUSINESS QUARTER | SUMMER 15

>> Purchase saves jobs Millennium Assemblies has purchased JJ Engineering from the administrators, saving almost 40 jobs and creating one of the West Midland’s largest independent metal pressings firms. JJ Engineering, of Garretts Green, Birmingham, will be renamed Millennium Assemblies and will become part of the Black Country-based Millennium Manufacturing Group, along with Millennium Pressed Metal.

John Faulkner, who will lead the newly-acquired factory, said: “JJ Engineering has a great workforce and a long history of supplying quality metal parts. Millennium Pressed Metal had picked up a number of large contracts, so the ability to further increase our capacity was too good to turn down.” The deal has seen 39 jobs saved and Faulkner said the firm could now see new jobs from further growth.

>> On the Wright track Birmingham’s J S Wright has won the ‘Building Services Contractor of the Year’ trophy in the H&V News Awards.

Marcus Aniol, managing director of the 125-year-old company, based in Aston and with offices in Bristol and London, said: “This award is a tribute to the dedication and loyalty of our people and to our ongoing investment in top quality training and the latest technology.”

The award, sponsored by Wilo, recognises outstanding competence, professionalism and innovation, along with commercial success.

Putting world-class expertise to work in your business

14

BREAKFAS T SIGN UP TO YOUR FREE SUBSCRIPTION OF BQ BREAKFAST.

Unlike others, we take innovation seriously.

IS YOUR DAILY DIGITAL BULLETIN PROVIDING BUSINESS NEWS ANALYSIS, BUSINESS STORIES AND EVENTS.

SIMPLY REGISTER TO RECEIVE YOUR FREE SUBSCRIPTION OF BQ BREAKFAST AT BQLIVE.CO.UK

MADE

To arrange a demo, call 0141 221 2233, or visit www.basebrandmanager.co.uk

base

™

you’re in control.

The Entrepreneur Festival: Sheffield

21 - 22 October 2015

madefestival.com

Join us for the UK’s most inspiring festival of entrepreneurship

CAN YOU AFFORD TO MISS IT? For more information: www.madefestival.com @MADEfestival #MADE2015

facebook.com/MADEFestival

NEWS

SUMMER 15

>> Here comes the pride A wedding dress shop launched just a year ago is proud to have lifted two trophies in one of Birmingham’s top business awards.

Isaac Charles Bridal House Ltd won ‘Excellence in Customer Service’ and ‘Excellence in Social Media’ at the Greater Birmingham Chambers of Commerce annual dinner.

The Burlington Court-based business, which says it’s on target to achieving a half-million pound turnover by 2017, now has seven staff.

>> New firm aims to be more ‘client-focused’ >> In-tent on being ready The Walsall-based company behind the Khyam tent brand has secured £325,000 investment through the ThinCats peer-to-peer lending network.

Secco, based at Vigo Place in Aldridge, will use the cash to increase stock in the runup to the outdoor camping season and to support the development of a new caravan awning range. Nicholas Roberts, financial director at Secco, said: “Unprecedented demand last year saw popular Khyam stock lines sell out way before the end of the season. The £325,000 has allowed us to get ahead of the game by increasing stock levels across the whole brand.”

“Obtaining the investment was a really simple process. Lloyds Bank introduced us to Ludgate Finance which is a specialist in raising business loans in the peer-topeer lending market.” David Grocott, of Ludgate Finance, said peer-to-peer lending networks such as ThinCats was a wellsuited alternative for businesses to raise finance in quite a short period of time.

businessteam@bham.ac.uk www.birmingham.ac.uk/partners

BUSINESS QUARTER | SUMMER 15

A new insurance company has been launched in the heart of Birmingham’s business district.

Colmore Insurance Brokers, headed by Richard Waltier with fellow directors Andy Smallwood, Andy Copeland and Jon Chance, has opened its first office in Newhall Street with six staff.

Richard said: “We’ve all worked with some of the world’s biggest brokers which has given us an invaluable insight into best practice within the industry, but also where it can be improved. And we are smaller than many of our competitors so can be much more client-focused.”

The new company will focus on four main sectors – commercial insurance, real estate, national charity and care businesses, and private clients.

>> Tool firm triples its space

>> NEC changes hands

A Black Country engineer is creating 10 jobs after expanding into a unit three times the size of its previous premises.

RP Tooling Ltd, formerly of Halesowen, which makes injection-moulded components and prototypes, has moved to Building 54 at The Pensnett Estate, a 24,207 sq ft unit, on a 10-year lease agreed with London & Cambridge Properties.

Darren Withers, director at RP Tooling, said the unit was attractive because it was in the ideal location and had a new roof and fully redecorated offices.

He said: “We are delighted with the move and are looking forward to expanding our operations further over the next few months.”

The NEC Group has been sold to management buyout firm LDC in a deal worth £307m – one of the biggest sales ever agreed by Birmingham City Council.

LDC, the private equity arm of Lloyds Banking Group, now controls the Genting Arena and National Exhibition Centre in Solihull, and the International Convention Centre and Barclaycard Arena in Birmingham city centre.

The sale offers much-needed respite for the city council’s finances amid a bill of more than £1 billion for historic equal pay settlements.

Paul Thandi, NEC Group’s chief executive, said: “This provides the group with an opportunity to benefit from numerous growth opportunities, ensuring it remains a cornerstone of the region’s economic prospects.”

Putting world-class expertise to work in your business

16

SUMMER 15

COMPANY PROFILE

The importance of a clean break Nicola Walker, Head of Family law at Irwin Mitchell in Birmingham offers the following insight into the Supreme Court case of Wyatt v Vince If you’ve picked up a newspaper in the last few months, chances are that you will have seen the press coverage surrounding this landmark case. The reporting has divided people and caused widespread debate on what is fair in cases where one party to a marriage tries to make a financial claim against the other, years after their divorce.

But amongst the hyperbolic headlines, the facts of the case and the detail of the ruling have become somewhat lost.

Mr. Vince and Ms. Wyatt married in December 1981. They had a son together and treated Ms. Wyatt’s daughter from a previous relationship as a child of the family. They divorced in 1984, at a time when they were both reliant on state benefits.

English law allows a divorce to be finalised (by the pronouncement of Decree Absolute) without financial issues being resolved.

Mr. Vince says that at the time of the divorce financial matters were in fact resolved. He believes that a “clean break” order (i.e. one dismissing his claims against Ms. Wyatt and hers against him) was made. However, neither party has kept any documentation relating to the divorce and the court file cannot be located.

In the years after their divorce Ms. Wyatt continued to rely on state benefits. She had two further children and says that she struggled financially.

Mr. Vince became a new age traveller and contributed very little given his own financial circumstances. However, in the 1990s, his position began to change. He became interested in the proposition of wind power and founded the company known as Ecotricity.

Mr. Vince is now reported to be one of the wealthiest men in the country. Ecotricity is reported to be worth at least £57 million.

In 2011, 27 years after the divorce, Ms. Wyatt

Nicola Walker

There is no time limit applicable to a divorce issued a financial application against Mr. Vince.

Mr. Vince challenged her ability to bring a claim so long after the divorce and asked the court to strike it out, without considering its merits in detail.

Mr. Justice Mostyn, the High Court Judge who first considered the matter was not persuaded by Mr. Vince. He felt that whatever was to become of Ms. Wyatt’s claim, it was not possible to strike it out without first considering it.

Mr. Vince appealed this decision and was at first successful. The Court of Appeal did strike out Ms. Wyatt’s claim.

This was not, however, the end of the matter.

Ms. Wyatt took the case on the Supreme Court and they found in her favour. It is worth noting, that contrary to widespread reporting, they

17

did not give her any financial award. The only issue before the court was whether Ms. Wyatt was able to pursue her claim. The Supreme Court determined that she was. It sent the case back down to the High Court to look at what, if anything, she should receive.

English divorce law requires the court to look at certain specified factors when deciding financial matters on divorce. Taking into account these factors (which include the ages of the parties, the length of the marriage, their respective contributions etc) it must make an order that is fair, taking into account all of the factors in the case.

This requirement means that it is not possible to strike out a case, no matter how long after separation it is commenced. There is no time limit applicable to a divorce.

The case highlights the importance of ensuring that all financial matters are finalised at the time of divorce and a court order is obtained.

Otherwise it could lead to future claims to a share of the wealth earned after the divorce.

While any good divorce lawyer should ensure that all financial matters are finalised and immune to future claims, it is crucial that any divorcees who don’t have financial orders in place review their situation as they may now face claims based on wealth acquired after the divorce.

If you would like to discuss any of the issues raised or any general family law matters, please contact Nicola Walker on 0121 214 5455 or Nicola.walker@IrwinMitchell.com

BUSINESS QUARTER | SUMMER 15

GIVING SOMETHING BACK

SUMMER 15

>> Novice cyclist Chancelle is pedaling to Paris Chancelle Bloe, the commercial manager of BQ West Midlands, is taking part in Cure Leukemia’s London 2 Paris cycle ride in June with her close friend Nadeen Tisi.

Chancelle said: “Since BQ and Cure Leukemia joined forces I’ve become more involved in the charity and have become inspired at the stories I’ve heard, which gave me the inspiration to take up the challenge. “We’ve never ridden road bikes before and are complete novices.

But since it’s taking up the training we have become totally addicted to the sport.

Chancelle and Nadeen each hope to raise £1,500, riding in excess of 80 miles a day.

You can donate via www.justgiving.com/GoChaNadsGo/ or text CLLP55 to 70070 and then the amount (it’s free to text).

>> Martyn’s tribute to Aunt

>> Baking to raise dough

West Midlands industrialist Martyn Hale has raised £4,200 for Warwick Hospital’s Willoughby Ward to buy an electrocardiography machine. Martyn, chairman of HME Technology in Bromsgrove, made the donation in memory of his late aunt, Lorna Podmore, who had been a patient there, with support from Warwickshire Freemasons. Rebecca Bennett, Willoughby Ward manager, thanked Mr Hale and said: “A ward-based ECG machine will enable medical and nursing staff to diagnose a potential heart problem or other related disorder, enabling prompt diagnosis and intervention.”

Staff from thestudio – the meetings and events space in Birmingham – baked a range of cakes and bread to raise over £250 for Birmingham St Mary’s Hospice.

Lucy Watkins, events manager at the Selly Park-based St Mary’s Hospice, said: “We loved the range of breads and cakes at thestudio, and want to say a massive thank you for the donations and support.”

>> Building a team Building services provider J S Wright has marked its 125th anniversary by sponsoring Midland junior football.

The company, which has its headquarters in Aston, Birmingham, is backing Penkridge Junior Football Club’s new Under 7 and Under 8 teams with £750 of funding.

John Felton, the club’s development manager, said: “J S Wright’s generous support will help secure the club’s future and encourage other companies to support our aim of developing more teams across more age levels.”

>> Investing in youth Real Estate Investors plc (REI) has helped a local youth charity with a rent-free expansion deal. The Birmingham-based property group has moved UpRising, the leadership development organisation, into a bigger space within its own offices at 102 Colmore Row. Ian Clark, senior asset manager, said: “We have moved them into a larger and better suite, rent free as before, paying only the service charge, to assist them in their operations. We see this as an important part of our CSR operations – it is a privilege to help them.”

BUSINESS QUARTER | SUMMER 15

>> Fundraising on the menu An Italian restaurant celebrated its first birthday in the West Midlands with a morning cake and coffee event in support of Macmillan Cancer Support.

Pesto, situated on Hollyfield Road South, Sutton Coldfield, gave away complimentary sweet treats and hot drinks to guests and raised more than £80 for the cancer support charity.

Eloise Davidson, of Macmillan Cancer Support, said: “The Pesto team have worked very hard to raise much-needed funds over the past year.”

18

>> Beeb man’s guest spot Robert Peston, the BBC’s economics editor, is to be the guest speaker at a fundraising lunch in Birmingham this October. Robert will talk about his career and answer questions at the event in aid of the Journalists’ Charity at Warwickshire Country Cricket Club in Edgbaston on 16 October. Derek Inman, chairman of the West Midlands branch of the charity, said: “Robert’s understanding and analysis of the business world is second to none and I would advise people to book their tickets now for what will be a very popular event.”

Tickets are £48 each or £450 for a table of 10. More details at www.journalistscharity.org.uk or from katejmcmillan@aol.com

SUMMER 15

COMPANY PROFILE

The rise and rise of the Online MBA Combining online learning with face-to-face contact can offer the best of both worlds if you are looking to fit your studies around work and life commitments, explains Paul Schoonenberg, MBA Careers Consultant at Aston Business School.

THE ASTON COMMUNITY This flexible approach to learning includes the option to attend two residential workshops held in July of each year. These workshops provide a great opportunity to meet face-to-face with the community of academics and fellow students with whom you are working online. If you live or work in or around Birmingham, you can also attend a wide range of events held at Aston Business School, such as talks by industry experts and regular networking events.

The digital revolution has seen a number of the most successful businesses of the modern era born over the last fifteen years. Google, Facebook and LinkedIn are all businesses that have been established out of the technology revolution and are now key drivers of the global economy. All of these businesses have either shaped or taken advantage of key consumer shifts towards digital, at the same time transcending geographical boundaries seamlessly.

Bricks and mortar industries are reacting to this technological revolution by changing their business models. So, while Amazon continues its quest for further global domination of the retail market, niche retailers across the globe have had to adapt to the sophistication of the Amazon supply chain and its ability to operate more economically than its competitors.

DEMAND FOR DIGITAL It is not just the retail sector that has responded to the demand for digital. Business Schools traditionally at the forefront of innovation in education - have changed the way that they deliver their programmes in response to the demand for different ways of learning. Online programme delivery allows students to fit their studies around other work and life commitments.

ASTON ONLINE MBA The Aston MBA draws on Aston Business School’s world-leading research in international business and its global network of corporate connections to produce dynamic and agile business leaders.

By studying the Aston Online MBA, all elements of

Paul Schoonenberg

the programme can be completed in your own free time using online classroom materials.

Our online virtual learning environment provides an interactive platform that connects you to us from wherever you are located. It also allows online group work, so you can benefit from shared knowledge in a global classroom.

The online mode of study is fully accredited by the Association of MBAs (AMBA), and leads to the full Aston MBA award.

I chose to study an online MBA at Aston Business School because it gave me a lot of flexibility. I didn’t want to stop working and this was the perfect chance to study and continue to work.

19

Florin Tampau, head of strategy at OSS/BSS Go-To-Market, Aston Online MBA graduate

CAREER SUPPORT Career development support is a cornerstone of the Aston MBA programme, which is why we were ranked 1st in the UK and 2nd in the world for return on investment by The Economist in 2014.

Online students get exactly the same careers support as their full-time peers. One on one Voice over Internet Protocol (VoIP) consultations through Skype give students access to real time careers advice wherever they are in the world, backed up by a range of online tools and resources on our dedicated MBA careers support portals, including updates on employer activity, UK and international job opportunities, handy tips for navigating the job market successfully and webinars on topics such as logic-based interviewing and mastering case study interviews.

Find out how the Aston Online MBA could transform your career. Visit www.astonmba.com

BUSINESS QUARTER | SUMMER 15

MOVERS AND SHAKERS

SUMMER 15

>> Inspired by ‘pure passion’ MCL Group Industries Limited has appointed Nick Cowley as its new managing director.

Nick said: “I joined MCL because I wanted to be part of a real innovator in materials technology. MCL’s success is due to the creativity, drive and pure passion it has for its industry, and I felt that I could help steer the company to even greater success.”

The announcement follows a successful 12 months for the Staffordshire-based group, with a contract win from Western Power Distribution and plans to export engineered composite products to Australia, South Africa and the United Arab Emirates.

MCL was founded in 2001 and has bases at Biddulph Moor, Knypersley and Fenton. It employs around 160 workers.

Wolverhampton, Susan will lead a team of 20 relationship directors and product specialists focused on clients across Staffordshire, Shropshire, the Black Country, Worcestershire and Herefordshire.

>> Fraud expert joins firm Midlands law firm Shakespeares has appointed David Roy as a partner and head of business defence.

David joins Shakespeares from the tax investigations and prosecutions team at Cartwright King, where he specialised within all areas of financial crime. Before this, he was a founding partner at law firm Jonas Roy Bloom.

Based in the Birmingham office but working across the wider Midlands, David will advise individuals as well as boardroom decision-makers on criminal fraud proceedings.

>> High calibre appointment Birmingham chartered surveyors Johnson Fellows has poached Jeremy Williams from CP Bigwood, where he was commercial property manager.

Neil Wetherell, a partner at Johnson Fellows, said Jeremy, who becomes a senior surveyor, “has an impressive background as a surveyor” and that “we needed someone of his calibre who could hit the ground running”.

>> Andy’s skills will be ‘vital’

>> First rate, ‘first city’ store There will soon be “no reason to go to London to shop”, according to the new manager of Birmingham’s soon-to-open John Lewis store.

Speaking just months ahead of the expected grand opening this September, Lisa Williams said: “The store is a regional flagship and it’s going to have our latest, greatest thinking in there. As far as I am concerned this will be the first city.”

The £35m, 250,000 sq ft John Lewis – set to employ 650 staff – will be the centrepiece of the new Grand Central shopping development above the refurbished New Street Station.

BUSINESS QUARTER | SUMMER 15

EY has appointed Andy Williams as a partner to its assurance practice in its Birmingham office at One Colmore Square.

Andy, who has more than 12 years audit experience with large global organisations, joins from Deloitte’s Birmingham office having previously spent four years working in Sydney, Australia.

Chris Voogd, Head of Assurance at EY in the Midlands, added: “Andy’s experience advising a variety of clients, his ability to build strong relationships and proven leadership skills will be vital in helping us to more than double the size of our business.”

>> New role for Susan Susan Davies has been promoted to regional director, South & West Midlands, for Santander Corporate & Commercial.

Based at the bank’s corporate office in

20

>> To the Manor born William Bryan has been appointed managing director at the familyowned Drayton Manor Theme Park, near Tamworth, Staffordshire.

William, who’s worked at the venue for 20 years, takes over the role from his father, Colin Bryan, who becomes chief executive.

Meanwhile, Colin’s youngest son George, formerly general manager, estates, and niece Helen Pawley, formerly general manager, central services, both become directors.

SUMMER 15

COMPANY PROFILE

Bellpenny’s Big Birmingham Move CEO Kevin Ronaldson says Birmingham was an obvious choice for us; the city is a major international commercial centre with a thriving economy The past few years have been hugely successful for Bellpenny and having recently announced (11th May 2015) two further acquisitions to take its total deals to date of 26 and in excess of £3 billion funds under management, 2015 looks to be no different. The most recent acquisition is that of Rawson Steele IFA, a long-established firm based here in the Midlands in Southam, Warwickshire.

Bellpenny have witnessed their business going from strength to strength, starting as a six-man team in 2012 they now employ over 300 people, and are actively looking to recruit more, including here in the very heart of Birmingham.

As an inevitable part of growth, Bellpenny have had to expand – expand their team, their services and their offices. Expecting continuing growth this year, they made the decision in April to move to brand new office space at 45 Church Street, Birmingham. This new Birmingham Hub location provides excellent facilities for both client and corporate liaison, has its own street frontage and is within easy reach of the main transport networks.

The space is open plan and provides a highly impressive working environment for around 80-100 employees. The décor has been designed to fall in-line with Bellpenny’s clear and vibrant brand values, a strong contrast to the stereotypical appearance usually associated within the financial services industry.

It is clear that customer service has been their top priority throughout the acquisition of the new Birmingham office. Although they offer home visits, the new offices will make it easier for clients to come and talk with Bellpenny, should they want to. By expanding into this new, larger base it is hoped that it will help to assert Bellpenny as leaders in their field, enabling them to fulfil their long-term goal of becoming the UK’s most trusted financial advice business.

CEO Kevin Ronaldson: Birmingham was an obvious choice for us; the city is a major international commercial centre with a thriving economy. The

The space is open plan and provides a highly impressive working environment for around 80-100 employees aim of the new office is to help us better serve our clients, whether they are local businesses seeking workplace pension advice, or IFAs looking to sell their business. We are particularly focused on growing our corporate services and believe that Birmingham will provide us with ample business opportunities. Our business is expanding fast, and we know that Birmingham has a strong talent pool. We are looking for highly-skilled employees to join our growing team and are confident that we can find them here.

In addition to the business growth, Bellpenny have also recently launched a new internship programme in partnership with a number of universities located near their hub offices across the UK, including those of Birmingham, Warwick, Oxford Brookes, Reading, Edinburgh, Glasgow and Aberdeen. It is very clear that Bellpenny want to invest in, and nurture talent as much as they possibly can, and are keen to attract a high calibre of future financial advisors.

Application numbers for this year’s paid internship programme far exceeded their expectations and covered a number of areas from financial advisory

21

to marketing roles. Going forward, the internship programme is something that Bellpenny are looking to develop further into 2016. The new Birmingham hub will also be home to some of the successful candidates that are due to start their internships in June.

If you would like to hear more about Bellpenny from either a personal or business perspective, please contact us on 0845 475 7500 or visit our website www.bellpenny.com

45 Church Street, Birmingham, B3 2RT 0121 212 5700

BUSINESS QUARTER | SUMMER 15

ENTREPRENEUR

SUMMER 15

FROM ANGRY YOUNG MAN TO MAVERICK BUSINESSMAN Spencer Bloomfield was regularly sacked, heavily in debt and sofa-surfing because of ‘youthful arrogance’ Now he’s BQ West Midlands’ Emerging Entrepreneur of 2015. Steve Dyson reports on his turnaround Spencer Bloomfield was an angry young man with nowhere to go when he left school at 16 without any qualifications. His parents had split up when he was a child, and his mum had struggled to keep him under control at home in Oldham, Greater Manchester.

“I was an absolute nightmare and my mum couldn’t handle me,” recalls Spencer, now aged 28, and managing director of the award-

•

winning Yolo Food Company. “I’d been at a real hard-knock school, always fighting and getting beaten up, regularly ending up with stitches. I’d learned how to scrap to survive, but it was time to give my mum a rest.”

Spencer moved to Burton-upon-Trent, Staffordshire, initially living with his dad and becoming a trainee joiner on a building site.

Neither lasted long, and he was soon living by

tax

•

himself and working in a local bar. He quickly made a lot a friends, socialising, drinking and enjoying rather too much of a new freedom.

He’d never been focused on a career, but Spencer liked the look of the kitchens and fancied his chances at “delighting customers with good food”. He got a job at The Yard, in nearby Swadlincote, and looking back now realises just how head-strong he was.

financial planning

•

Contact John Hodgson E: john.hodgson@smith.williamson.co.uk T: 0121 710 5200 W: www.smith.williamson.co.uk

BUSINESS QUARTER | SUMMER 15

22

SUMMER 15

ENTREPRENEUR

“I didn’t want to do any of the washing up or chopping vegetables,” he says. “I just wanted to move straight up the ladder and do my own thing in the kitchen. But I was young and burning the candle at both ends. I got the sack for turning up to work with hangovers!”

Before long, Spencer was an assistant chef at The Beeches pub-restaurant, in Ashbyde-la-Zouch, but again became his own worst enemy by attempting to call the shots: “I always felt I could do better. I was a bit arrogant, and they got rid of me.”

The next job was assistant chef at the Tap House, in Smisby, serving good pub food, where a 20-year-old Spencer really started to experience the fiery world of chefs: “What you see with the swearing and the shouting in a kitchen is true – it’s very high intensity. But my work went really well and I became head chef – in charge for the first time.”

Spencer had just received a job offer after an interview at the two-Michelin star Sat Bains restaurant in Nottingham, but because of his promotion he turned it down.

“In some ways it was a big mistake to refuse it, as it was a golden opportunity to really up my game. But I’d been made head chef at the Tap House, earning £22,000 at the age of 20, and I felt I couldn’t let them down. When I think back, I’d have blown it anyway, because I was a right little s**t at the time!”

Instead, Spencer put his back into the Tap House, regularly working 80-hour weeks and at times dealing with 130 diners by himself: “I turned the kitchen upside down and was doing it all the way I wanted. I was excited and it was all going successfully.”

But then what Spencer calls the “darker side of cheffing” got the better of him again: “It just wasn’t healthy working that amount of time and socialising at the same time. Before long I was burnt out, but there was still a buzz about me. I ended up clashing with the manager, Roger Thompson – who I really respected – but I moved on.” >>

•

tax

•

financial planning

•

Contact John Hodgson E: john.hodgson@smith.williamson.co.uk T: 0121 710 5200 W: www.smith.williamson.co.uk

23

BUSINESS QUARTER | SUMMER 15

ENTREPRENEUR

SUMMER 15

You see, with cheffing comes at least one of the three evils – drinking, smoking or drugs. I was still hammered and the boss simply said: ‘It’s over.’

A short-term job at The Holly Bush in Breedon followed, then another at a fine-dining restaurant called Chloe’s, in Burton. Spencer was one of a team of chefs, creating recipes with the freshest of ingredients, giving him a “real feel” for food.

When Chloe’s head chef left they looked to Spencer to take over, and put in his “best” performances to produce what diners felt were great dishes, despite an overstretched kitchen. But just when it was going so well he walked into work one day and the place was stripped bare; the owners had moved on and he was jobless again.

Fortunately, an experienced chef who’d seen Spencer at work made him chef de partie at The Bulls Head, Repton – a popular establishment in a very affluent area. He

•

“learned a hell of a lot”, but remained “an absolute nightmare” to employ.

“The Bulls Head was the hardest place I’d worked at, with massive demand. It went well for a while… maybe six months. But then I came in still drunk from the night before once too often, and I was told to leave.

“You see, with cheffing comes at least one of the three evils – drinking, smoking or drugs. I was still hammered and the boss simply said: ‘It’s over.’ That’s the way I was back then – always on a downward spiral. I was even sofasurfing because I didn’t have enough money to pay my rent.”

After The Bulls Head, Spencer floated in and out of another four or five jobs, mainly via chef agencies, but they never lasted long.

By 2011, aged 24, he was jobless again, but

tax

•

this time with overdrafts, credit cards and an £18,000 loan in a friend’s name that he just couldn’t walk away from.

“It was pretty bleak,” he says now, “but I wanted to keep my self-respect and knew I needed to get my head down and do things I didn’t want to do to clear that debt.”

Spencer worked two years of night shifts in United Biscuits’ warehouse, a period he describes as “hard graft hell”. But he was helped by another discovery: personal fitness.

“I picked up a Men’s Health magazine in a dentist’s waiting room,” he says. “I found it really interesting and went out and bought the latest copy, reading it cover-to-cover. I joined a gym and it changed my life, for the better. All of a sudden I was more focused on getting in shape rather than going out.

“This led to my interest in nutrition and eventually the idea of Yolo Food Company was born. In the warehouse, I was sat for 12 hours a night on a forklift truck between two aisles travelling up and down, up and down. It was a lot of time by myself thinking about what I wanted to do.”

By the time he was 26, Spencer had cleared “every last penny” of more than £30,000 in personal debts. He left the warehouse and spent 2013 buying and selling reproduction stock for profits at posh car boot sales. He was trading everything from snuff boxes and Titanic whistles to chairs and tables, regularly making £4,000 a week, and once making £1,480 in just two hours.

“I got a real feel for business,” he says, “and was good at the banter and bartering. I saved a bit of money and decided to work on the Yolo idea. I went to the Job Centre and told them: ‘I know what I’m capable of. I want to work for myself.’ And do you know, they were pretty good. It was refreshing.

“There are plenty of opportunities out there, lots of ways to fund a business and loads of advice. I spent hours in the library researching the hell out of Yolo. And I went on a couple

financial planning

•

Contact John Hodgson E: john.hodgson@smith.williamson.co.uk T: 0121 710 5200 W: www.smith.williamson.co.uk

BUSINESS QUARTER | SUMMER 15

24

SUMMER 15

of day courses run by the Prince’s Trust. When I was there, a mentor called Bob Anderson became dead interested.

“He was excited because he could see my energy. The Prince’s Trust gave me a £4,000 loan and I put some of my own money into it, selling my car, a couple of my watches and my TV. I didn’t need ‘things’ and wanted the money for my business.”

Yolo Food Company was born in January 2014. The acronym stands for ‘you only live once’, and the product is basically fast food that’s healthy but tasty. It sounds simple, but we’re not talking about veggie burgers and beans. Menus include exotic-sounding items like ‘Sticky peanut chilli sirloin steak, with maple-roasted sweet potatoes, leek, garden pea and broccoli stir fry’. I tried this, and it was delicious. And at just under a fiver a dish, it’s cheaper than other fast food meals, and so much healthier.

“Healthy doesn’t have to mean boring,” says Spencer. “My vision was to change the image of fast food with colourful, mouth-watering, flavour-infused menus that were at the same time healthy and affordable.”

Yolo sells to customers in three ways: individual food plan packages for home

•

ENTREPRENEUR

consumption; ‘express fridges’ supplied to cafes, gyms, offices, and other outlets; and at Yolo’s own café in Burton town centre.

Spencer began cooking in his own kitchen for orders via Facebook, but growing demand meant he soon needed better production and distribution. To fund the expansion, he went into partnership with Stefan and Jo Kucharzewska, former pub managers who’d once employed and sacked him at The Yard in his wilder years. Yolo became a limited company in May 2014 and successfully applied for a rare 50% grant, 50% loan worth £107,000 from the Derby Enterprise Growth Fund.

“This was long, drawn out, very difficult and stressful,” says Spencer. “When the phone call came that we were successful, you could’ve knocked me off my feet. It was down to team work, and the strength of the Yolo idea, mission and brand – making people healthier.”

As well as the three partners, the business now has eight staff and turned over £145,000 in its first year. Revenues could reach £1m by the end of 2015, and Spencer’s now negotiating with a large national café chain and a distribution company.

“We’re getting orders from all round the

tax

•

It wasn’t easy.

I made a lot of mistakes and learned a lot of lessons. But every time, I’ve taken the positive out of it and grown as a person country, and from as far away as the USA and Germany. The growth is there and it’s almost going faster than we can. It’s a hands-on, seven-day-a-week job.”

Earlier this year Spencer was nominated and won the ‘Emerging Entrepreneur’ trophy in the BQ West Midlands 2015 awards. He will now compete with other regional winners for the national title at MADE: The Entrepreneur Festival in Sheffield this October.

Looking back, Spencer realises how his parents inspired him: “Mum had it hard: she was a single parent, working behind a garage till while going to college and university. Now she’s a project manager for Ikea.

“Dad was a gamekeeper all his life, but wanted to do something else at 50. He went to Burton College, got a degree and diploma, and is now director of English regions for the British Association for Shooting and Conservation. They showed me the only way anything works in life is if you really want it.”

He adds: “It wasn’t easy. I made a lot of mistakes and learned a lot of lessons.

But every time, I’ve taken the positive out of it and grown as a person. Nothing phases me now.” n

financial planning

•

Contact John Hodgson E: john.hodgson@smith.williamson.co.uk T: 0121 710 5200 W: www.smith.williamson.co.uk

25

BUSINESS QUARTER | SUMMER 15

EMERGING ENTREPRENEUR

National Emerging Entrepreneur Dinner 2015 In partnership with

The National BQ Emerging Entrepreneur Dinner 2015 at Newcastle Gateshead Hilton brought together both emerging and recognised entrepreneurs from across the UK for a celebration of enterprise and to recognise rising stars from The West Midlands, Scotland, the North East and Yorkshire

MADE

The National BQ Emerging Entrepreneur Dinner 2015 was held in association with MADE: The Entrepreneur Festival 2015, the dinner highlighted the individual stories of 16 shortlisted emerging entrepreneur finalists with one from each area being chosen to go forward for national recognition at MADE 2015. The dinner was held in partnership with Gateshead College, with other sponsors including Irwin Mitchell, Quantum Law, Llloyd Newcastle BMW & Mini, Chromazone and U Name It Promotions and hosted by Mark Easton, BBC home editor.

Spencer Bloomfield founded his business just over a year ago to offer customers a choice of healthy fast food not available elsewhere.

The company’s business model is based on the preparation of a wide range of YOLO products sold as food plan meals for home consumption or in cafes, gyms, offices, sports premises and other suitable outlets. The company now has 11 employees.

Shortlisted entrants were chosen on the basis of entrepreneurial character, business performance, business strategy, business impact, innovation and personal values. The three others on the West Midlands shortlist were: Mike Bandar of Turn Partners, Ben Nimmo of SocialSignIn, and Oojal Jhutti of Iwazat. The event was hosted by Mark Easton, BBC home editor, and the guest speaker was Stephen Kee, managing director of Saks Hair & Beauty, the Darlington based national award-

Associate sponsor:

Supported by:

MADE

Lloyd Newcastle

The Entrepreneur Festival: Sheffield Wine sponsor:

Signage and promotions supplied by:

The Entrepreneur Festival: Sheffield

BUSINESS QUARTER | SUMMER 15

winning hair and beauty salon group.

Bryan Hoare, director of BQ magazine, said: “Congratulations to Spencer who was the worthy winner in an extremely strong field of contestants who bear testimony to the vibrant entrepreneurial culture we have in the West Midlands. BQ magazine is all about profiling and encouraging entrepreneurs and we are delighted to be able to showcase them at the awards and to give Spencer such an important national platform as the MADE festival, which has been described as a Glastonbury for business.’’

Judith Doyle, principal and chief executive at Gateshead College, which was headline sponsor and partner of the national dinner, said: “Supporting the next generation of entrepreneurs and entrepreneurial thinkers is at the core of our strategy at Gateshead College and we were delighted to be part of the BQ event.

“Recognising those individuals that are embracing their ideas with commitment and ambition and helping to create employment and economic prosperity is extremely important. At Gateshead College we are inspiring our students to leave college not only with the qualifications, skills and knowledge within their chosen fields, we also want them to possess the confidence, strong work ethic, personality and softer skills that can make a real difference to the businesses they develop or the organisations they go on to join.” n

26

21 - 22 October 2015

madefestival.com

EMERGING ENTREPRENEUR

BQ West Midlands Emerging Entrepreneur winner was Spencer Bloomfield of Yolo Foods with Amrit Chandan (left) and Scott Hardman (right) both of Blue Vine Consultants

Recognising those individuals that are embracing their ideas with commitment and ambition and helping to create employment and economic prosperity is extremely important

27

BUSINESS QUARTER | SUMMER 15

COMPANY PROFILE

SUMMER 15

A bank with a strong focus on supporting entrepreneurs BQ hears how Santander is keen to build on business confidence whilst establishing itself as a ‘scale challenger’ in the Corporate and Commercial sector It is refreshing to see a banker with a broad smile on his face. Tim Pezzack, Santander’s Divisional Managing Director for Midlands and Wales, is an upbeat guy and speaks with passion about how Santander Corporate & Commercial is forging ahead on a number of fronts.

A recent Santander business growth survey has shown that business confidence in the UK is at its highest level for three years, with businesses focused on growth both at home and overseas.

It’s extremely encouraging and while business owners report that trading conditions remain challenging, a fifth believe that their business has never been in better shape. Santander is committed to helping businesses prosper and has been a consistent supporter of businesses in the UK, with lending over the last four years growing by an average of 17% per year. A Midlands business with fast track growth plans has become the most recent company in the region to receive a cash injection from the Santander Growth Capital Fund.

The deal will enable Vacuum Furnace Engineering, to expand its contract servicing and repair business, develop the next generation of vacuum furnaces and set up a new apprenticeship scheme. Santander’s Capital Growth Fund has been developed to provide funding to a vital yet commonly underfunded UK business sector.

Central to the programme’s aim is a commitment to providing up to £200 million in growth capital to some of Britain’s most ambitious and dynamic small and medium-sized enterprises

BUSINESS QUARTER | SUMMER 15

LEARNING FROM THE MASTERS But Pezzack and the team at Santander recognise that the role of the modern banker in supporting businesses involves more than just providing a business current account or loan facility as he explains “We aim to provide ‘added value’ experiences that help bring our network of influencers together and, where possible, work with our own customers to help deliver ‘thought leadership’ Masterclasses.

“One such Masterclass took place recently with Microsoft, the iconic technology business. The opportunity to learn firsthand how this marketleading company operates is a truly fantastic one and we were delighted that they were prepared to share it with other businesses. “ This is real example of how Santander is really adding value with an experience that you would not typically expect to be offered from a bank.

‘BREAKTHROUGH MOMENTS’ FESTIVAL So many successful fast growth businesses can recall those defining moments that enabled them to reach their potential. Santander are delighted to be hosting a week long business festival celebrating such ‘Breakthrough Moments’

between the 6th July and 10th July.

Events will take place within Santander’s Red Box for a week which will transform Molineux, the home of Wolverhampton Wanderers into a place of ideas, entrepreneurship and networking for the Midlands business community.

SOURCING FUTURE TALENT The survey also showed that the outlook for staff retention and new job creation is also positive, which is welcome news for the wider UK economy and the Midlands Business sector.

Pezzack says “The need to attract quality staff continues to be a challenge for businesses and by linking up with universities across the Country we’ve been able to make a positive impact. Firstly, we work with the universities to source suitable candidates; individuals that are interested in building a career and welcome the opportunity to go and work with an employer for a three month period.

Secondly, we fund 50% of the salary costs for the period.” This is an excellent way of helping SMEs get an important project off the ground, where employment costs may otherwise prove to be a barrier and about putting young talented

What’s more, you don’t have to be a Santander customer to take advantage of this initiative – of course we’d like you to be - but it really is a genuine attempt to support these important sectors and, in so doing, help the wider British economy

28

INSIGHT

SUMMER 15

It’s a plot device beloved by writers of police procedurals since Kojak sucked his first lollipop.

A character is placed squarely at the heart of a scene, then ‘accidentally’ allowed to see someone or something which sets their thoughts racing. The technique is astutely used to catch the attention of potential customers, who walk along the corridor leading to Matthew Morris’s office, in SPAL Automotive UK’s distribution centre in Worcester.

Colourful posters of famous marques provide visitors with an irresistible stimulus – to ask if a particular car, motor-bike or earth-mover uses SPAL products.

“Ah. We’re not allowed to discuss who we supply. Commercial confidentiality,” will be the gist of Matthew’s well-rehearsed response.

At first thought, it’s puzzling that a company which has been designing and manufacturing market-leading products for decades should need such visual aids.

After all, as SPAL’s neat slogan – ‘managing air since 1959’ – implies, its products can be used wherever there’s potential for air to be blown through a vehicle’s interior.

Its array of sophisticated fans can demist windscreens, create a flow of chilled air to hold perishable items at the correct temperature, keep engines running smoothly, and ensure that drivers, motorists and passengers are warmed, or cooled, as desired.

“A typical supermarket delivery vehicle will have three of our refrigeration fans installed, so everything is always kept properly chilled, and that’s a market which is expanding very rapidly,” says Matthew.

“Bus operators can also save up to 11% on their fuel costs, by switching to the use of our electric fans, so there’s a powerful commercial imperative there.”

However, there is also an inevitable downside to supplying something which, by virtue of its operational requirements, must be buried deep within a vehicle.

“The SPAL brand name is always hidden inside someone else’s box, so although they are used all over the world, no-one outside our industry

BUSINESS QUARTER | SUMMER 15

WE’RE READY TO BREAK OUT OF THE BOX Matthew Morris, the managing director at SPAL Automotive, reckons his company has a client list to arouse envy in anyone. But it’s also a secret which dare not speak its name.

Ian Halstead reports would recognise it,” admits Matthew ruefully.

“We’re working hard to ‘break out of the box’ and raise our profile, although to be honest, I’m not sure that the absence of image really matters.”

However, if the wider public is unaware of the company’s existence, SPAL’s decades of success have certainly been noticed by the legions of counterfeiters scattered across the globe, particularly in the Middle East, China and India.

“It’s a problem for us, but we don’t try to chase each and every patent infringement,” says Matthew. “There’s no point trying to close one forger down, they’d just open up round the corner.

“It’s an issue which has been growing in recent years, especially in the sector which services refrigerated delivery vehicles. We make no apologies for selling products which are expensive because of their high quality.

“So, some people buy the fakes via the internet, to save money. We just go to people in the service sector and tell them whenever we see that they’re using counterfeit fans.

30

“We don’t want to be a supplier to every brand which exists in the global automotive, bus, coach or vehicle sectors, but do want to win as much business as possible with the quality marques. ”We are moving much more to supplying the OEMs (Original Equipment Manufacturers).

We build long-term relationships with them, naturally hoping that they will specify that SPAL products should be used.”

Terzino Spaggiari co-founded SPAL in 1959, and his family still runs the company, which has retained its original base in Correggio, a small but historic town between Parma and Bologna.

Over the years, the company’s scale has changed dramatically; from a small firm specialising in the design and production of plastic moulds, to an international business empire.

“Globally, SPAL is generating something like €300m a year from sales of fans and blowers,” says Matthew. “Across all its operational divisions, it’s probably doing around a billion euros.”

SUMMER 15

31

INSIGHT

The Correggio site alone now employs 500 people, has six automated production lines, and is capable of turning out more than three million axial fans and centrifugal blowers a year.

SPAL Automotive has distribution centres in China, the United States, Brazil, India, Russia and Japan, and the Worcester site began operations in 2009.

“We supply customers in the UK and Ireland,” says Matthew. “But if we get inquiries from somewhere which doesn’t have a distribution centre, such as Northern Europe, we’ll check with the factory to see if we can handle it from here too.

“The company is in the middle of a seven-year plan, and the aim is to quadruple the size of the UK business during that period.”

Regardless of the quality of the SPAL products, that’s a seriously challenging target, but as Matthew explains, the present Italian chief executive, Alessandro Spaggiari, is a disciple of precision planning.

“He is fastidious almost to the point of paranoia about quality control and accuracy, so everything is done in-house from the smallest plastic moulding to the final test phases.

SPAL only builds to order, so the model is to manufacture everything in Italy, and then use distributors and service centres in the other countries.”

Matthew has spent his career in the automotive industry, working initially for a manufacturer of glass sun-roofs, before joining an Italian company making car alarms in the late 1980s. It was then that he met a contact from SPAL, on the same English language course in Sutton Coldfield.

The outcome was a new venture, which supplied SPAL products to the UK’s aftermarket sector, until Matthew’s business partner decided to leave the company in 2008.

He set up SPAL Automotive UK, as a joint venture with the Italian parent company, chose Worcester as its HQ for the wholly rational reason that he lives in the area, and everything has since gone splendidly – with a growth of nearly 40% last year. n

BUSINESS QUARTER | SUMMER 15

ENTREPRENEUR

SUMMER 15

MAKING TIME FOR AN OBSESSION Award-winning feature writer Maureen Messent – BQ’s latest recruit – reports in awe at the timepieces manufactured by a couple of horologists in Birmingham’s Jewellery Quarter

TEL: 0121 215 0926

EMAIL: andrew.whiting@sjpp.co.uk WEBSITE: www.andrewwhiting.co.uk

BUSINESS QUARTER | SUMMER 15

32

SUMMER 15

How’s this for magic at the top of three draughtily neglected staircases in Birmingham’s Jewellery Quarter?

“Put out your hand,” says Craig Struthers, aged 44, an Essex boy with a touch of the young Michael Caine, as he then pours a stream of platinum and sapphires into my palm.

It’s a pendant watch. The first automatic pendant watch, in fact, that works with a spinning ball rotating on a gimbal – the ‘arms’ used to steady ships’ chronometers at sea.

The watch face is minimalistic, clean as vodka over ice. Then turn the little ball over and you’re looking into the gold mechanism,

ENTREPRENEUR

as minutely and busily intricate as its face is serenely simple. Tiny sapphire cabochons are the only frivolity here, the pendant hanging from a platinum chain.

“D’you like it?” he asks. No, I don’t. I lust after it. Drool, even, over a gloriously complex and beautifully unexpected adult toy that would have left 16th century watch-makers disbelieving but enchanted.

“We were rather pleased with it,” says his willowy wife, Rebecca – understatement, you soon realise, is a mark of the Struthers.

The judges of the prestigious Lonmin Design Innovation Award were impressed, too. Craig and Rebecca won it, then followed up with

their Struthers Regency collection, unveiled at the UK premier watch exhibition, SalonQP, held annually at the Saatchi Gallery, London.

Another design includes a solid silver handengraved design, with lugs and buckles handforged from 19 separate pieces.

The couple’s latest collection, to capture the spirit of the Malvern-based Morgan Car Company’s Aero 8 relaunch this year, was sculpted in 18-carat white gold round a remastered vintage Omega and is handengraved. Just eight pieces were made, selling at £22,500 each, and more orders have come for designs based on Morgans from as far afield as Australia. >>

T E L : 0121 215 0926

E M A I L : andrew.whiting@sjpp.co.uk W E B S I T E : www.andrewwhiting.co.uk

33

BUSINESS QUARTER | SUMMER 15

ENTREPRENEUR Will they relax when their order books are bulging?

“No,” they chorus. “We’d be embarrassed.

This isn’t work to be hurried or us harried. We need to talk constantly about each piece.”

Don’t be taken in by the Struthers’ skyward trajectory. They make it sound easy, omitting the sweat and midnight oil burned in earlier days. And, as Craig admits, his earlier careers have been car-crash scenarios.

“I’m a failed office-partitioner, failed mortgage-arranger, and art school drop-out,” he beams. “A start in foil-printing, now back in favour, was throttled by computers, so my father, a policeman, insisted I work as a police civilian.

“Bad mistake, that. So boring I’d throw sickies to convert old vacuum-cleaners and guitars into radios. So when I heard of watchrepairing, I started for myself. Rebecca is the classy one of us.”

She graduated from Birmingham School of Jewellery after school in Sutton Coldfield, is Perry Barr-born and bred with ancestral links to silver-smithing. She then discovered that watches were moving jewellery and got the first of a series of jobs in London, a first chance to meet people, rich people, prepared to pay huge sums for beauteous objects.

She found herself at Fellows & Sons in our Jewellery Quarter before heading to London auctioneers Bonhams, then working with a Mayfair watch restorer where she was sent for training with Bulgari in Switzerland, then back to London’s Bond Street as a dealer in the Royal Arcade.

They met at a couple of London parties, Craig and Rebecca. She designed a new case for his father’s Jaeger watch, which Craig was repairing. They then lost touch as he was immersed in old watch repairs and Rebecca was designing news ones. When they met again, both realised watches were to become their careers and Rebecca admitted she was out on her feet at London’s pace of life.

SUMMER 15

I’m a failed office-partitioner, failed mortgagearranger, and art school drop-out “Okay,” he told her, “let’s get a bank loan and start making our own in Birmingham.”

That’s exactly what happened. Within a month they’d arrived here, married, clutched their £15,000 start-up loan and money from all the assets they’d sold on eBay. They networked like mad from a couple of offices in the Big Peg (often seen as a crèche for talent-nurture), and realised that no, their flight from London hadn’t been ill-considered at all, simply the start of careers that mixed business with pleasure.

“Years ago,” recalls Craig, “in my art school days, I was a bit of a biker and we’d meet up in Epping Forest to boast and josh. Then, one

TEL: 0121 215 0926

EMAIL: andrew.whiting@sjpp.co.uk WEBSITE: www.andrewwhiting.co.uk

BUSINESS QUARTER | SUMMER 15

34

day, Grayson Perry joined us, all big hair and prosperity on a Harley-Davidson, and I envied him. Less for the bike than for his cracking the idea of throwing pots that sold for about £3,000 each back then – now they’re over £30,000 each – and having fun doing it.

When we came to Birmingham, we knew we’d cracked it too.”

They’d work round-the-clock, would the Struthers. Learned that going out to dinner “to forget work for a while” wasn’t on because they’d talk shop throughout the meal and get home with heads buzzing with new ideas.

And, as they began to be noticed, Rebecca found a couple of forlorn rooms in Spencer Street (one-time haunt of a cape-maker) and face-lifted them, single-handed, in just over a week. What’s evolved is a rambling suite with exposed brickwork, tables sprouting pixieproportioned hammers and scissors under lamps and magnifying-glasses, chin-high workbenches – and don’t forget the shelves sagging under aged horological tomes and a bunk-bed salvaged from a World War Two shelter.

The instruments are Craig’s, the books and sketch-pads belong to Rebecca. And you get the feeling both retire to different planets on strictly working days. One point may jar with the more parochial of Birmingham. Their company is unashamedly ‘Struthers London’ because the capital, they say, is the heart of the jewellery and watch industry.

“You can be a big fish in a small pond here once you’ve made it”, says Rebecca. “But you need the fierce competition of London to keep you lively in your early days, the mainstream of ideas, the buzz.”

And the cash question? All’s well. Their work’s selling to the wealthy and discerning. And although they won’t spill the beans on the investment they’ve received recently from PHP Healthcare, their accountants and business advisers, Harrison, Beale & Owen (HB&O), are purring.

Struthers products are posh, expensive and

SUMMER 15

painstaking. They’re not for the Premiership bling boys who’ll throw their new, all-singing, all-dancing Apple Watch from their prams by Christmas for something even more modern.

We’re speaking heirlooms here, worthy of their price-tags because they’re home-made, each taking about eight to 10 weeks, every detail researched, then rechecked. Take a Struthers watch-strap, for instance. If it’s to be leather – as for the Morgan Aero 8 collection – it matters enormously to Rebecca that her design is complemented by the right-sized and shaped strap-holes.

That’s where the correspondence starts with strap-master Christopher Clarke, of Shrewsbury, whom they met on restoration work in Ludlow. So steeped in the old ways is Mr Clarke that he dislikes using computers, preferring to hand-write his advice in brown ink on greyish paper – which gives the look of historic documents.

Among the usual leathers he’ll supply are stingray, frog or eel, but first he’ll want to know how many little holes will be needed for the comfort that Rebecca takes for granted for her customers.

Both love bling, though. It’s just that they don’t want to make it in a world market hungry for bespoke watches because these are overlooked by the business sector who know money is made faster from the expendable.

Today’s time-piece magnates aren’t craftsmen, and certainly wouldn’t understand Mr Clarke’s strap concerns. Only the bespoke side of the market care these days, the people so engrossed in their craft that they feel they can never know enough – hence Rebecca’s now studying for a PhD in antiquarian horology on watch forgery in the 18th century, at Birmingham City University (BCU).

If you think this almost obsessive attention to detail a time-waster in the modern world, then you’re mistaken. So great is the present demand for watch-makers in the Struthers mould, that universities are acknowledging

ENTREPRENEUR

they must offer more courses. BCU says 85% of horological graduates are in work or even higher education, while the remaining 15% will include people who are retired rather than unemployed.

Rebecca’s next job is transforming diamond earrings into an 18-carat white gold watch for a client who wants a change-of-use in the £15,000 to £20,000 range.

Simple as that. Already the earring-owner has consulted Craig on exactly the watch she wants and they’ve struck a chord. Then Rebecca will take over with the diamond side.

There’s not a shop window in sight.

Struthers’ patrons are given audiences (my word, not theirs) during which they confess their ideas of watch-heaven. Work won’t begin until total agreement is reached.

They have the help of wacky Kelly Hart, a young Northern Irish but Birmingham-trained designer, who lives just round the corner (everything is “just round the corner” in the Jewellery Quarter).

She’s ready to begin a £30,000 to £60,000 collaboration with Craig and Rebecca involving a speciality stone-cutting, computer-generated

ring design that has to be built up in resin... shame on you if you know the finer points of that process! n

fact file • It’s likely that Elizabeth 1 was the first monarch to sport a time-piece. Her Mistress of the Wardrobe reported in 1586 that Her Majesty wore a watch on her arm garnished by rubies and diamonds.

• The Colmore family released land on which the Jewellery Quarter now stands in 1746, to help the city’s increasing business population.

• Between 1770 and 1870, there was an influx of 700 clock and watchmakers to Birmingham.

• Birmingham Assay Office opened its doors in 1773. It provides assaying (testing) and hallmarking of precious metal items as required by the Hallmarking Act, and is one of just four assay offices that remain in the UK.

T E L : 0121 215 0926

E M A I L : andrew.whiting@sjpp.co.uk W E B S I T E : www.andrewwhiting.co.uk

35

BUSINESS QUARTER | SUMMER 15

INTERVIEW

SUMMER 15

There’s an unnatural hostility in the UK towards individuals who make lots of money, according to Professor George Feiger. And if this resentment is not dealt with, he feels the country will lose “bright sparks” to places like America, where they can feel more comfortable with their wealth.

The Professor, who is pro vice-chancellor and executive dean at Aston Business School, touches on these views in a breakfast presentation to top bankers, and I catch up with him afterwards to find out exactly what he means. An American by birth, he explains what he’s noticed as an “unhealthy envy” since settling in the UK. “People with wealth are demonised, without any consideration of how they got it,” Prof Feiger says. “Let’s compare a thief with an entrepreneur: both have lots of money, but one’s got it by being a criminal, whereas the other has got it through hard work.

The thief should be punished, but why punish the entrepreneur?

“OK, there may well be deserved hostility towards certain people in the finance industry, but is your average manufacturer in the West Midlands ripping people off?

“Look, the country’s been through austerity, but you’ve got to ask: how did we get here? It was because the government spent money it didn’t have. We should have built up surpluses in the good times so we could afford deficits in the bad times – that’s basic economics.

Times are tough, but why? It was the government’s gross mismanagement.

“Now they’re saying to industry: ‘We don’t invest enough.’ But who are they asking to invest? The same people they’re planning to strip of their assets through tax! This envy is ugly and unproductive… I blame Labour for what we’ve created. Their assumption is that if someone has some money they must have got it in the wrong way, so let’s tax them disproportionately. This rhetoric obfuscates the issues.

BUSINESS QUARTER | SUMMER 15

WE MUST STOP DEMONISING THE WEALTHY Entrepreneurs should be encouraged to make their fortunes – before they decide to leave the UK. That’s the view of Professor George Feiger, of Aston Business School. Steve Dyson reports “Entrepreneurs are not philanthropists, they want to succeed. Their success is measured by their income, their wealth – which then results in productivity and employment. And if they’re not making money through crime, why should we take it off them?”

Prof Feiger’s talking about all forms of taxation – income tax, corporation tax and capital gains tax – and insists that he’s not suggesting that no tax is paid. But he feels that when fiscal levies are discussed it always seems to be on a basis of near-punishment for those who have the audacity to be multi-millionaires.

“Take your namesake – James Dyson,” he says. “What is it that’s wrong with him making whatever amount of money vacuums are making? He’s done a lot for the world. Is he rich? That sounds pretty good to me. What’s wrong with that?

“In the USA, no-one thinks it’s a crime. And it’s not just tax levels we’re talking about – because they can vary from state to state – but it’s the whole cultural attitude, and the UK’s acceptance of ‘taxing the rich’.

36

“There’s nothing wrong with saying: ‘I want to get rich by starting a business’, but it seems that people are made to feel bad about it in the UK. I had a bunch of my students in my office talking about this, about how they desperately want to succeed by building businesses and stuff like that. But one of them said: ‘You don’t get respected around here. If only I could, I’d go to California tomorrow.’”

Prof Feiger’s views are based on a career of working with money. Before joining Aston Business School, he was chief executive of a $3.4bn wealth management company in the United States. He’s also served as head of strategic planning at the Bank of America’s world banking division, as a senior partner at McKinsey, as global head of investment banking for SBC Warburg, and as global head of onshore private banking at UBS. It’s this wide and detailed background that the professor applies to his analysis of what he calls “an increasingly unbalanced global economy” during his presentation at Equistone’s annual breakfast in Birmingham. >>

37

BUSINESS QUARTER | SUMMER 15

INTERVIEW

SUMMER 15

He sets the scene for his audience, mainly the region’s top bankers: “Over the last decade, we went from a period when pretty much everywhere was booming, to a developed country slump with emerging market countries, particularly China, motoring ahead, to a situation today with a much more fractured and nuanced structure.

“The US is expanding at a slowly accelerating rate. However it consists of a series of islands, surrounded by a sluggish sea. The islands are the tech industry in its broadest sense, the energy industry in a belt that runs from the Gulf Coast up to the Canadian border, and a still immensely productive agricultural sector.

The island metaphor explains the coexistence of quite good aggregate growth and stagnant real incomes for most people.

“China is slowing down. This is bad news for the exporters of iron ore and coal but not for consumer-related industries. Breakneck Chinese growth was based on massive investment, driving the share of consumption in the Chinese economy to below 40% of GNP. This is both unsustainable and unwise.

“The Chinese government is trying to rebalance the economy towards consumption and there is so much room that a significantly slower aggregate growth rate is compatible with rapidly rising living standards. That’s good news for a different group of investors and suppliers.

“The Eurozone is stagnant and remains imperilled, seven years after the crisis began.

The structure was flawed from the first.

One monetary policy is not compatible with multiple fiscal policies. The monetary policy is, in any event, subject to multiple effective vetoes. The inflexible structure of many of the Eurozone economies meant that they could not rapidly adjust from rebalancing via currency devaluation to rebalancing via changes in internal matters like nominal wages and deregulation.

“The governance structures of the Eurozone put too much power in the hands of unelected bureaucrats and government nominees so that actions lack popular mandates. This is especially important when difficult decisions need to be taken.

“In my view, the only viable way forward is for Germany and its associated economies to

BUSINESS QUARTER | SUMMER 15

The negative representation of successful leaders is alienating our student entrepreneurs withdraw from the Euro, revalue and re-enter at the higher value. This effective devaluation of the other currencies would buy time for a more fundamental restructuring of the type the Germans want.”

Prof Feiger admitted, however, that such a Euro withdrawal is very unlikely. Despite the unbalanced economy, Prof Feiger warns that “history always trumps economics”, and says how it always surprises him how often governments and bankers forget to remember this rule, instead struggling on with faithbased policies.

“Notwithstanding the jaunty air of confidence affected by the heads of Central Banks, and the close attention with which their every word and gesture is followed by the financial press, these people have only a limited ability to understand, let alone to stabilise, the global economy.

“The global financial system is linked in ways

38

that have not been mapped. Hence we, and our regulators, are constantly surprised by events. How else to explain that the failure of an obscure US money market fund to pay back 100 cents on the dollar to its domestic investors after the failure of Lehman was a major cause of the credit contraction in the Eurozone and the depth of the recession?

“All economic actions – investment, major consumption, capital flows – are based on anticipations. Euphoria causes self-reinforcing bubbles, and fear stifles investment, as in Japan for years. We have no good explanation of how expectations form and spread.

Therefore we have no good tools for the finetuning of economies.

“Of course we do know that debt is the great amplifier of all macroeconomic swings. This presents current quandaries. For example, we know that ‘austerity’ has not worked well in the Eurozone. Will turning back on the credit taps for already indebted governments make things better or worse?”

Despite his views on the global economy, Prof Feiger tells his audience there’s still good news for UK entrepreneurs, especially in the West Midlands.

“The UK is the only European nation which approaches the US in this respect. In particular, tech-related and export-related entrepreneurialism is significantly higher in the UK than in continental Europe. And England is the most entrepreneurial part of the UK – Scotland being the least.”

Within England, the West Midlands is one of the best places to be for entrepreneurs, Prof Feiger says, but he warns that funding is still much harder to get than in, for example, San Francisco, as is “effective mentoring of people with good ideas”.

And on the point this feature begins with, Prof Feiger argues that we must understand, welcome and promote entrepreneurs’ desire to get rich.

He adds: “The ongoing negative representation [in media and politics] of successful leaders of business making lots of money is alienating our student entrepreneurs.

They want to succeed, they want to earn a lot of money and they want to build big businesses. They don’t want to be in a society that seems not to value these aspirations.” n

SUMMER 15

COMPANY PROFILE

Barclays offer passion, understanding and a desire to work with businesses According to Mike Rigby, corporate banking isn’t really about commercial mortgages, overdrafts and working capital. It is about real life and people. Steve Dyson reports Mike Rigby loves how his job as Barclays’ head of manufacturing, transport and logistics gets him out of his office in London’s Canary Wharf.

“The real excitement and pleasure is visiting clients’ premises, watching their processes, understanding their ethos and how they fit into their marketplace.

“It is personal – people choose to be in this banking sector. I look for bankers who have a passion for manufacturing, who enjoy viewing factories and production lines.”

Cooke Optics, of Thurmaston, Leicester, produces camera lenses for the global TV and film industry.

Barclays recently agreed a six-figure asset finance loan for new equipment that improved the firm’s lead times and increased production capacity. It is now expecting to double its turnover.

“It’s a company I absolutely love,” enthuses Mike.

“You turn up at a pretty normal-looking brick building by a railway line, but behind that façade the company’s grinding, polishing and testing high-quality lenses, which are the choice for many a Hollywood director.”

Another nearby client is Price and Buckland, of Hucknall, Nottingham, manufacturers and suppliers of uniforms to thousands of schools.

The firm used to outsource some manufacturing to India, but thanks to Barclays’ funding it’s now establishing its own facilities in New Delhi.

“By chance, it’s what my own children wear to school,” says Mike. “So as a parent I am working for the bank that helps facilitate the firm that makes my children’s clothing. It’s nice to know exactly who has supplied these quality products and from where in the UK/India.”

These are just two examples of companies that have benefited from Barclays’ asset finance, overdrafts or capital expenditure. But Mike winces at the technical names: “In reality, we don’t sell commercial mortgages or working capital; we help our customers achieve their objectives by

understanding their company, its products and its position in the marketplace.

“We are interested in the human detail behind the finance – companies’ ability to buy equipment or premises that allows them to grow and succeed.

Loans or overdrafts just happen to be the tools in our kitbag.

“My sector is real life, not make believe. You woke up this morning on a mattress, probably made in the UK (because mattresses don’t travel). The shower you had was probably made in the UK, supplying water processed in the UK. The milk you put on your cereal was produced locally.

“The shoes you put on were probably produced in the UK, and the car you got into or train you caught was either made here or with many parts from UK factories. The sector we serve surrounds us wherever we are.

“This doesn’t mean we back all businesses who want finance, but it does mean we back the right ones, because we are fascinated to learn how things are done and the human story behind each one.

“Manufacturing, transport and logistics is one of the largest UK sectors, and it is performing strongly, emerging from the recession in fine form and poised to take advantage of the next technological changes.

“That’s why it is important we learn the detail, because companies’ investment relies on our appetite in their ability to take advantage of innovation to help them forge ahead.”

Mike has headed Barclays’ manufacturing, transport and logistics sector since 2012, with a team of relationship directors, across the UK. He adds: “Companies who speak to Barclays’ bankers are going to get the passion, understanding and desire to work with them wherever they are in the UK. I’m determined that Barclays plays a useful role protecting our manufacturing sector, securing jobs, enabling exports and growing the UK economy.”

39

Mike Rigby Head of Manufacturing, Transport & Logistics

MIKE RIGBY Mike joined Barclays in 2008 as a Relationship Director on the Manufacturing team. After two years in the Bank he was offered a leadership role in the broader Manufacturing, Transport and Logistics team.

In October 2012 Mike was promoted to Head of Manufacturing, Transport & Logistics where he heads up a team of 15 Relationship Directors in addition to having responsibility for the sector nationally within Corporate Banking. His team also has three Directors that specifically cover the Aerospace and Defence market.

Previous to his time at Barclays, Mike worked at HSBC Bank for 14 years. Whilst at HSBC he worked in several areas of the Retail and Corporate Bank including Credit.

Mike is married to Kate, they live in Tunbridge Wells with their two young children: Oliver and Eva May. He enjoys all sport, particularly golf, skiing, rugby and running.

To find out more, email michael.rigby@barclays.com

BUSINESS QUARTER | SUMMER 15

in association with

NO GAIN WITHOUT A LITTLE BIT OF PAIN The issue: How can UK businesses maximise their export success? And are the support systems currently available adequate to help them do this?

Robin Oxley, a patent attorney and head of Marks & Clerk’s Birmingham office, welcomed everybody and explained his interest in hosting the evening. He said: “We have many clients who say: ‘I’m thinking about starting exports, what do I have to consider?’ I think I know some of what that is but I’m always very glad to hear other peoples’ views so that I can help clients to increase their exports… I’m sure there’s lots of tricks I can learn from you guys, and hopefully I can share some of the tricks I’ve learned.”

The evening’s guests then introduced themselves and their interest in exports.

Martyn Hale is chairman of HME Technology, a market leader in design, technology and science equipment for schools. He told how his company picked up its first contract with new academies in Saudi Arabia last year.

Paul Brown, director of government and the public sector for EY, said: “We have created a ‘growing beyond borders’ tool to identify countries and markets companies should think about exporting to, using macro-economic data. It’s a fantastic piece of work that we do with clients to help them think about should

BUSINESS QUARTER | SUMMER 15

export, and do they want to put the effort into this…

“You’ve got all the statistics – if you export you’re more resilient, you’re going to grow, you’re ambitious… We did a report back in 2011 called ‘Winning Overseas with the CBI’ trying to tackle government to put more effort into supporting companies to export, and certainly this government has taken on some of those aspects, but I think we could do much better. I sense there’s still a bit of apathy around businesses thinking of exporting. One in five in this country are exporting, it’s one in four in Europe – why is that? It can’t be just that the markets aren’t there, I think that sometimes we think as an island nation.”

Professor David Bailey, of Aston Business School, reflected on how the UK’s trade figures were “utterly dismal” in February, with the biggest February trade deficit for four years. He said export growth in the UK was up only 14% in the last three years – although a growth of 46% in the West Midlands was doing the “heavy lifting” of rebalancing the economy.

But he said the overall figures showed the government’s aim of “exporting out of

40

TAKING PART Paul Brown, director, government and public sector, EY Pietro Cardente, international sales director, Conex Banninger Professor David Bailey, Aston Business School John Ferdinand, associate and trademark attorney, Marks & Clerk Martyn Hale, chairman, HME Technology Paul Harris, senior tax manager, Pwc Mark Henderson, trade director, Barclays Bank Stephen Hynes, strategic marketing director, Ultraseal International Robin Oxley, head of Birmingham office and patent attorney, Marks & Clerk John Phillips, regional director, Institute of Directors In the chair: Caroline Theobald, BQ Group Taking notes: Steve Dyson, editor, BQ West Midlands Venue: Hilton Garden Inn, Brindley Place, Birmingham, B1 2HW.

BQ is highly regarded as a leading independent commentator on business issues, many of which have a bearing on the current and future success of the region’s business economy. BQ Live is a series of informative debates designed to further contribute to the success and prosperity of our regional economy through the debate, discussion and feedback of a range of key business topics and issues.

recession” was just not happening.

He described how companies had reduced or ceased exporting at the time of the 2008 recession and said: “Getting back into export markets involves a certain cost and we’re not doing enough to support companies. There has been some improvement – things like export credit finance guarantees – but we don’t go far enough, it’s still not as generous as Germany.

We need to think much more holistically about how we help our manufacturing base. 80% of our exports are manufacturing, and unless we have a much more proactive industrial policy we’re not going to push that much further.”

Pietro Cardente is international sales director of Conex Banninger, the plumbing pipe fitting and valves specialist. He compared the way other European countries helped their companies to export by describing a trade show he was at in Dubai: “There is a British pavilion which consists of a dozen or so stands supported by the UKTI [UK Trade & Investment]. You just have to look down the

SUMMER 15

DEBATE

Getting back into export markets involves a certain cost and we’re not doing enough to support companies.

There has been some improvement... but we don’t go far enough aisle and the German pavilion is about six times the size. The Spanish pavilion is about four times the size. Everybody else seems to have much more support.”

John Ferdinand, an associate and trademark attorney at Marks & Clerk, said a lot of what the company does for its clients has an international focus, dealing with potential risk of entering new markets. “What I’m interested in is when you take the plunge and enter a new market: how businesses have made that leap, where they’ve dealt with that risk and it’s paid off, and where they’ve had a really bad situation and it hasn’t worked…”

With regard to government support – or its perceived lack of support – John said: “I’m interested in what seems to be an expanding knowledge base of the implications of entering new markets, and the limitations in what we’re doing at a practical level to facilitate entries into new markets.”

John Phillips, regional director for the Institute of Directors [IoD] in the West Midlands, said

he was recruiting a group of non-executive directors with exporting experience to help companies that weren’t currently exporting, but who the UKTI felt had great potential. He said: “The idea is we mix the two together and end up with some ‘magic’.”

He added: “For me personally, I’m quite passionate about foreign languages. I believe that English is both a curse and an advantage… If I had one wish, it would be that we could start our language learning in primary schools.”

Mark Henderson, a trade director at Barclays Bank, explained how his role was to help importers and exporters manage the finance risks involved – essentially “making sure you get paid”. He said one of the things that constantly surprised him was companies’ “lack of willingness to utilise all the different payment methods that are available for exporters.” He said he was keen to raise awareness for companies on what assistance was available. >>

41

BUSINESS QUARTER | SUMMER 15

DEBATE

SUMMER 15

Stephen Hynes, strategic marketing director of industrial castings and sealant specialists Ultraseal International, said 98% of his company’s trade was export. Ultraseal trades in more than 40 countries, and has had more than 25 years’ experience in India, 20 years in the USA and seven years in China. He said: “Our main challenge is understanding markets.

A lot of that comes down to experience.”

He talked about entering Russia, which he was initially warned against, but said by asking other exporters who were experienced in the “volatile” area he decided the risks were worth it. Stephen said a lot of the advice they received didn’t come from government bodies, but came from asking questions via Chambers of Commerce and private companies.

He said: “My main point tonight is that everything available in terms of finance and grants is for new exporters. As ‘experienced’ exporters, we’re restricted. If you don’t give money to mature ones how is their manufacturing going to grow?”

Martyn Hale agreed with Pietro that Germany was more supportive to its exporters, helping them to approach markets as a group of companies, and that it was “disappointing” that the UKTI did not offer the same levels of assistance. He also agreed with Stephen that more was needed to help experienced exporters to get more out of markets.

Martyn said: “It’s alright for the prime minister going out like a cavalier to India, China and South America with his group of high-level plc companies.” He said this may well trickle down to new work for various sub-contractors across

BUSINESS QUARTER | SUMMER 15

A third of businesses are aware about exporting but decide ‘it’s not for me’. How do we get people over that hurdle to think about exporting? the West Midlands. But he added: “For people like us who’ve got a finished product, it’s not easy. We need more help. One of the biggest challenges we have is that we don’t think the UKTI is fit for purpose.”

Stephen Hynes said: “A lot of it comes down to a real understanding of international marketing. To export successfully you need to treat each country as an individual market.

We’re talking about understanding the culture, price sensitivity, the British brand… You also need to be courageous and understand who you talk to… We don’t always give the UKTI enough credit, they can point you in the right directions.”

But Paul Brown insisted that the UKTI was still “underperforming” in its reach to businesses, often because the businesses themselves were not persuaded to engage with them, nor with local Chambers or the IoD. He said: “70% of businesses are aware of these organisations, but less than 10% use them. A third of businesses are aware about exporting but decide ‘it’s not for me’. How do we get people over that hurdle to think about exporting?”

Pietro Cardente said: “Part of the problem is

42

I don’t think we’ve got the right people there [at the UKTI) to advise, or if they are the right people they’re not getting paid the sort of money they should be getting paid. Secondly, I don’t think some of the help out there is well known. Take the OMIS reports [the UKTI’s Overseas Market Introduction Service], I use them all the time. For £3,000, Australia for example, I’ve got a market that’s now worth £18m a year.

“That saved me the bother of going out there and looking around, knocking on doors. They were warmed up leads and I was able to go there and find the right partner. So they’re well worth the money… At the end of the day the UK’s 60 million people. There’s a hell of a lot more people out in the big wide world.”

Stephen Hynes agreed: “I think as an island nation we’ve forgotten how to export. Some companies culturally aren’t comfortable with it and never will be.”

David Bailey said: “There’s been an improvement in recent years, but not at a national level. Regionally, we’ve done a fantastic job. Now half of that is probably JLR and JCB, but there are a lot of other companies

SUMMER 15

in the automotive supply chain, in aerospace, in green technologies – we’ve really diversified the regional economy.

“Something’s happened regionally which is quite different to what’s happened nationally.

Partly that’s because those companies have embraced new export markets beyond Europe, partly because they’re producing products that people want around the world, and because we’ve developed technologies in industries that we can sell internationally. But it’s down to the companies.”

Robin Oxley asked: “Is the question for the UK just: ‘If you do what the West Midlands has done that will fix it?” David Bailey said: “Regions have got different specialisms, and so you can’t transfer it necessarily, but clearly we’re very good in the West Midlands at advanced manufacturing and services linked to it. We’ve been able to position ourselves at producing products that appeal very much in growing economies around the world.

“That part is translatable – whatever product or service you’re producing, look beyond Europe. Europe’s still very important, it’s our biggest export market, but the really big growth is taking place elsewhere so think more broadly.”

The debate’s chair, Caroline Theobald, asked if the help out there in terms of language was “fit for purpose”. Pietro Cardente, himself a language graduate, told how when he was looking for a job 25 years ago with skills that he thought were marketable, it took him two years before he found his first proper job with a company that valued languages.

He said: “It still seems that it [exporting] is just an additional thing that companies do rather than a main activity. I don’t think necessarily being proficient in every language in every market you’re in is necessary but at least having that cultural awareness, having a few words just to get by, it breaks the ice.”

Stephen Hynes said: “I think you do need a local partner – it’s not just about languages.

Someone who can be there when things go wrong. Having someone on the ground and able to respond very quickly. Having a local partner who speaks the language, knows the culture and has strong relationships.”

John Phillips said: “My dream of languages is really a very long-term aspiration of starting off with toddlers. If you live in a country with a minority language then you have to learn the global languages – Mandarin, Spanish and English – and people somehow manage to do that. I just think it would be a great legacy to leave for future generations.”

Mark Henderson agreed, and gave an example of a customer exporting to Germany who took on a credit controller who just happened to be a German speaker.

DEBATE

“Immediately, they were able to bring in debts quicker, reducing days from 90 to 60, and the difference they found was massive. It was a huge benefit to protect their margin and bad debts, and also the working capital benefit which had a knock-on effect on what else they could do.”

Paul Brown said companies they helped were encouraged to use EY offices abroad, along with UKTI services. He said: “The language bit is a nice thing to talk about. It’s sort of there as being quite important, but is it the big panacea? No. Does it help? Possibly. If you look at the top things for exporters, it’s regulations number one, it’s contacts on the ground number two. They should visit sites, they need to exploit UKTI and all their business contacts as much as they can. Language is nice but it’s not the answer.”

Paul Harris, senior tax manager with PwC, said what helped exporters was having knowledge on the ground. He said PwC was normally involved when a business has decided to make exports to a particular country and was thinking about tax and how to structure it.

He said: “The most useful thing is to get >>

Europe’s still very important, it’s our biggest export market, but the really big growth is taking place elsewhere so think more broadly

43

BUSINESS QUARTER | SUMMER 15

DEBATE

SUMMER 15

them speaking to someone locally, understanding the culture of the country and regulations, and how you should talk to businesses and get introductions is absolutely crucial.”

Paul also defended the UKTI, which he said seemed to have taken “a bit of a battering” and said: “We’ve spoken to a number of SMEs that are looking to export for the first time, and they have found the UKTI very helpful.”

Robin Oxley said how, as a more mature exporter, Marks & Clerk needed to differentiate themselves from other European businesses. He said: “To tie in everything about the language, it’s the man on the ground. We don’t have an office in Korea, we have a Korean lady on the ground.” He said this enabled them to respond quickly in Korea, and to sort out problems that would otherwise be tricky.

Paul Harris talked about how different countries’ regulations were sometimes a barrier, and said that “more could be done to help” at a government level. He said: “If governments could get together and only have regulations and changes that were actually needed, rather than just because they’re parochial, that would help.” Pietro Cardente, with his international plumbing experience, agreed that regulations and testing required in different countries was often a “moneymaking exercise” and a “barrier to entry”.

Paul Brown said that successful exporting was all about knowing the right person, with the right experience to speak to. John Phillips said this was what his new network of nonexecutive directors with exporting experience was all about. He said: “It’s to take the success of the best people and transmit that. If it works, we’ll share it. We’ve had people come forward who are interested and have a group of good people with a great track record. If it works, we’d like to do it nationally.”

David Bailey said: “Companies that cooperate more and innovate more are more successful in all sorts ways, and that’s exactly what we should be doing. We should remember that in Germany and other countries, being part of a Chamber or some sort of organisation is a compulsory requirement, so they’ve got all this networking and sharing in place, and we’ve kind of got to invent it really.”

Paul Brown said that the vast majority of

BUSINESS QUARTER | SUMMER 15

Are there enough people out there in SMEs or even bigger companies who have got those personalities to go into different cultures and engage with people? Have people got the skills? businesses don’t touch any such organisation – whether it be the IoD or local Chamber – and that this meant the “big issue” was how to get the message out there. David Bailey said: “If those networking organisations can do it collectively, that’s a very powerful way of spreading knowledge.”

Paul Brown said: “We’re going to have some great stories to tell, but it’s very difficult to get those businesses to engage. Things like compulsory membership may be a way, but it’s probably unpalatable in this country.”

Pietro Cardente said: “Are there enough of the right people out there to go and do exporting? My philosophy has always been: make it as easy as possible for the guy to buy it from you as it is from a local company. It’s all about that relationship.

“Are there enough people out there in SMEs or even bigger companies who have got those personalities to go into different cultures and engage with people? So it’s all well and good setting things up on a higher level and making things compulsory, but have people got the skills – whether it’s language or culture or understanding – to go out there and do it?”

44

John Ferdinand agreed and said: “It’s understanding what the other person’s saying, how they talk to each other. It’s encouraging that ability to step into someone else’s shoes and get to know how they’re thinking, what language they use, that would maybe help breed those kind of skills.”

Stephen Hynes said: “You need to employ someone with experience, someone who understands the export market, knows how to deal with an international customer. We recently employed someone who’s Chinese to help sort out daily issues in China. She’s achieved something that would probably have taken us years. She’s young, vibrant, hungry and has broken it down into a cultural level.”

On finance, Mark Henderson said: “Speak to your bank manager. They’ll bring in people like myself, for trade finance, bonds and guarantees to fulfil export contracts. The key is early engagement. Being prepared to do a forecast. The bank might want to see a copy of the contract, up-to-date quarterly information, forecasts for the next 12 months.

“Exporters have to be prepared to give a little back… to make sure you’re securing

SUMMER 15

yourself against potential bad debts and making yourself as appealing a supplier as possible to those export customers... We don’t profess to know it all about exports, but we will always try to point our customers in the right direction – UKTI, lawyers, accountants, UK export finance, business councils – there should be a joined up approach. “One of the things we actively encourage is not to speak to them all individually but try to get us all in the same room together – it’s a better use of exporters’ time, and they’re all working to the same end.” Discussing final practical tips, Paul Brown said: “Exporting should be part of companies’ business plans. What’s unacceptable is not thinking about it. I think we have an aspiration deficit in this country.

It [exporting] should be part of someone’s day job.”

Stephen Hynes agreed: “I don’t think it’s a shame that some companies don’t want to export, but you’ve got to have a reason. Do your market research. You don’t have to jump on a plane and go somewhere. Ask: what are the first steps? You’ve got to envisage your goods going overseas.” Paul Harris said: “You’ve got to look at the cash flow. When are you going to get paid? And also the taxes.”

Martin Hale was more daring. He said: “Go! Twenty years ago we had a small enquiry from Hong Kong and ended up doing seven schools, and they’re still buying from us now.” David Bailey agreed: “Go – be fleet of foot, do your research, and if there’s a market go for it.”

Pietro Cardente added: “Agreed, but do the research first. For me, the easiest way, certainly selling products, is the OMIS reports.”

John Phillips said: “I would say if you’ve got a brilliant product, you can be very proud of it, there’s a lot of help out there, and it’s not going to cost you a lot of money because there are people willing you to do well. So go, but go with help because there’s a lot around.”

Mark Henderson said: “There is a lot of help around. Do your research into what levels of advice are available. Dip your toe into all those advisors, which ones you rate, which you don’t. And use them.” And Robin Oxley added: “Just engage – but with eyes open.”

Martyn Hale lightened his conclusion with a story: “There was a shoe salesman going to Africa. He was told: ‘Don’t go over there,

they don’t wear shoes.’ But he replied: ‘I am going over there, I think they would love to wear shoes.’” John Ferdinand, on behalf of the Live Debate’s host Marks & Clerk, thanked everyone for their input and for providing a “great bank of knowledge” for BQ West Midlands readers. He said: “It seems a lot of it is common sense. The overriding things are getting to know the market, to do your research and to get the best information.

“Having that language ‘outlook’, in the sense of understanding how other markets work.

And in terms of the support systems, there’s clearly some disagreement about that, but certainly try a peer review, other people who’ve gone through the same thing. There’s clearly more that can be done from a government level to engage businesses in making sure they

DEBATE

use the resources available to them. Things like the OMIS reports – they’re available. The best way of support is through collaboration – whether that’s government initiatives or local Chambers. It’s there, it’s how you manage to find it. Is it all worth it? Well, the fact that Stephen’s business is 98% exports, the fact that Pietro’s move, for example, into Australia has massively grown a market in a few years from nothing, and the fact that Martyn’s had significant success with a new order in the Middle East, really shows that most successful businesses are exporters. So it definitely is worth all that pain and effort to get there.” n The Hilton Garden Inn Birmingham is based at 1 Brunswick Square, just off Brindley Place, Birmingham, B1 2HW. 0121 643 1003

Helping clients to achieve their export goals Overall exports by UK businesses are growing steadily and they are sometimes the only way for companies to achieve significant sales growth. As such they underpin the long-term success of British businesses. As an International firm of Intellectual Property advisors Marks & Clerk has extensive experience of advising clients on IP protection in current and prospective export markets. As such we are familiar with the particular challenges certain territories pose and understand the need to tailor IP strategies accordingly to achieve our clients’ commercial goals.

In the debate there was consensus that the main key to export success was taking the time to research and understand the cultural and economic landscape of export markets. As Stephen Hynes put it, “treat each country as an individual market.” Whether this takes the form of finding local distributors you can trust or integrating directly those with knowledge of export markets into exporters’ businesses it is clear those able to achieve higher levels of understanding of individual foreign markets have a higher prospect of export success. There is also much more to be done to support UK exporters and to encourage businesses to incorporate export growth as part of their commercial plans. It is also clear that the single most successful way of improving support to businesses in this area is through facilitating the share of knowledge between them and there is currently a lack of forums for this. The clear message from the debate is that despite the challenges faced the panellists’ advice about whether to look at new export markets is “go.”

Through our global office network our focus at Marks & Clerk is to provide advice informed by an understanding of the challenges of particular markets to enable our clients to do just that.

45

BUSINESS QUARTER | SUMMER 15

COMMERCIAL PROPERTY

SUMMER 15

REI success comes on the back of record profits, office market enjoys strongest quarter since 2008 crash, full house at The Exchange after latest deal, business partners take up residence in former county court >> Builder lands £80m deal The University of Warwick has awarded an £80m contract to Balfour Beatty to build its National Automotive Innovation Centre (NAIC).

The 33,000 sq metre development involves the construction of a four-storey ‘L’ shaped building for teaching, research and development, design and engineering facilities.

NAIC aims to provide a national focus for expertise in automotive research and development, accommodating over 1,000 researchers, designers, students and engineers.

The building project, which will employ over 750 people, will be completed in spring 2017.

Professor Lord Bhattacharyya, chairman of Warwick Manufacturing Group, an academic department of the University of Warwick, said: “NAIC will link people, research and worldleading infrastructure to create and develop novel technologies. It will be an ‘engine’ for economic growth.” NAIC is being funded through a collaboration between Jaguar Land Rover, Tata Motors European Technical Centre, WMG and the Government’s UK Research Partnership Investment Fund.

>> REI success continues Real Estate Investors plc, the Birmingham-based property group, has sold 770-772 Bristol Road South, Northfield, for the sum of £1.425m.

REI purchased the mixed-use development for £1.25m in early 2014. It comprises 6,751 sq ft of retail outlets with residential accommodation and has been purchased by a private investor. Occupiers include HSBC and West Bromwich Building Society.

The sale represents a 7.68% yield. REI chief executive Paul Bassi said: “Since acquiring the property our asset management, including selling a flat above for £50,000 at auction, has been completed and we have sold at a level well above our book value and purchase price. ”The sale is the first deal since REI’s annual report revealed record revenue, profit and dividends in the financial year to 31 December, 2014.

Revenue was up 19% to £8m and profits before tax were up 21% to £6m. Dividends increased by 50% to 1.5p per share.

>> Three shops sold A West Midland newspaper’s pension fund has sold a retail site in the centre of Stone, Staffordshire, in a deal worth £725,000.

The three shops, which produce annual rent of £61,000, were sold by Express & Star Group Pensions Scheme Ltd to CIP Estates Ltd of Barlaston, Staffordshire. The biggest shop is occupied by WH Smith. The other two shops, both with first floor storage and office accommodation, are occupied by Ladbrokes Betting and The Card Factory. Philip Jones, of property consultancy GJS Dillon which handled the deal, said: “This retail investment opportunity sold quickly and demonstrates that the regional property investment market has recovered well and is now booming.”

The investment market has recovered well and is booming >> Facelift pays off

BUSINESS QUARTER | SUMMER 15

46

A Solihull headquarters has agreed a major letting after its £multi-million facelift last year.

Two floors of One Trinity Park – based next to Birmingham International railway station and Birmingham Airport – have been let to Lloyd’s Register. Last year, the 20-year old building underwent a £2m refurbishment, in a bid to bring much-needed Grade A office space to Birmingham and the region.

Lloyd’s Register is an independent provider of business assurance services and was previously located on a business park near Coventry. It’s taken a ten-year lease on the 27,000 sq ft letting.

Scott Rutherford, of agents Cushman & Wakefield in Birmingham, said: “This is the second biggest deal in the M42 market in the past 12 months.”

Just two floors remain at the building.

SUMMER 15

COMMERCIAL PROPERTY been significantly boosted by large inward investment by the likes of Deutsche Bank.

“What we now need to see is local businesses grow so we do not become overly reliant on that one large deal a year such as HS2 in 2014.” The report – launched in April – found that nationally more than 11m sq ft of office space has been earmarked for alternative uses since the relaxation of planning permission rules almost two years ago.

Ben Truslove (left) with Ian Parsons, of Machined Aluminium Profiles

>> Premier are in a league of their own A Midland lettings and property management agency have scooped another national industry award. Worcestershire-based Premier Places picked up the Silver Award in the East & West Midlands Agency of the Year category as part of the annual awards scheme held by respected industry magazine, The Negotiator.

It follows two trophies the company won last year in the Sunday Times-backed Lettings Agency of the Year Awards for their student property services and their overall performance in the sector.

Chief executive Dani James said: “We’re thrilled to again be recognised by the country’s property industry experts for the quality and depth of services we provide.”

>> Chemist to have new HQ

>> Office market picks up

A national chemist has secured £3.2m funding from The Royal Bank of Scotland to build its new head offices in the West Midlands.

Work has already started on the new, 20,000 sq ft building for Jhoots Pharmacy on Hatherton Street, Walsall, and is due to finish in October.

Jhoots is an independent, community chemists with 47 outlets nationwide. The new offices will accommodate up to 100 staff, with room for growth.

Manjit Jhooty, managing director of Jhoots, said: “These will be perfect premises from which to run our business from effectively. The funding from RBS has been instrumental, and the team understand our growth ambitions.”

Birmingham’s office market has returned its strongest first quarter since the economic crisis of 2008, according to new research by Lambert Smith Hampton. The 2015 edition of the commercial property consultant’s annual Office Market Report found that 130,000 sq ft had been let in the city in the first three months of the year as optimism in the economy also saw significant growth for a number of speculative schemes.

Alex Tross, director of office agency at LSH in Birmingham, said: “What we are seeing is sentiment now crystallising into deals as the direction of travel for the city becomes reality.

“Q1’s performance builds on the success of 2014 which saw the highest level of annual take-up since 2008. Take-up levels have

47

>> Three move to Washford Three manufacturers are expanding and creating new jobs after moving onto an industrial estate in Redditch, Worcestershire.

All have taken new lets on the Washford Industrial Estate on Heming Road. Ben Truslove, a director of John Truslove, which handled the lets, said: “Washford is very popular with excellent motorway connections. SMEs are showing signs of burgeoning confidence and are picking up more work. It gives them the opportunity to push on.” Machined Aluminium Profiles has gone from 1,100 sq ft at 75 Heming Road, to taking 83 and 84 combined, and recently moving into No. 86, 17,592 sq ft, on a five year lease. Control panel manufacturer Industrial Switchgear is moving from 8 Howard Road, Redditch, taking a 3,828 sq ft unit at 82 Heming Road on a five-year lease. Meanwhile, Crown Labels, based in a 10,000 sq ft factory at 2 Nash Road, Park Farm North, Redditch, is expanding with a second production facility at 65 Heming Road, taking a 3,819 sq ft unit over five years.

BUSINESS QUARTER | SUMMER 15

COMMERCIAL PROPERTY

SUMMER 15

>> Business partners ‘in court’ Annaliz Vintage has expanded into 1,700 sq ft on the ground floor of the Old County Court in Church Road, Redditch, Worcestershire, and plans to open a new café in the former bailiffs’ office. The specialist vintage goods retailer was set up in 2007 when Liz Williams and Ann Bush started visiting car boot sales, progressing on to stands at collectables, curios and vintage fairs before renting space in The Old Needle Works in Redditch 12 months ago. Ashley Gurr, corporate and commercial property partner at neighbouring Kerwoods Solicitors in Church Road, advised them on the new two-year lease, while Ben Truslove of Redditch property agents John Truslove introduced them to the property.

The move has already created one job, with another likely when the new Bailiffs Café is up and running.

Liz Williams said: “The Old County Court is a lovely building which is rediscovering its purpose.

Having a town centre location can only increase footfall, especially when we have fully opened Bailiffs Café.”

From left, Liz Williams, Ashley Gurr, Ben Truslove, Preet Singh and Ann Bush

>> Exchange now a full house Financial and accountancy recruitment firm Mitchell Adam has taken 2,400 sq ft of office space in the Grade I-listed ‘The Exchange’ in Newhall Street, Birmingham.

The Exchange was constructed in 1896 as the city’s central telephone exchange, before being converted to offices around twenty years ago.

The letting by GBR Phoenix Beard, which also

occupies The Exchange, means all space in the building is now taken.

Joe Shorney, of GBR Phoenix Beard, said: “If our own experience is anything to go by, Mitchell Adam will be well served in these new premises. The historic nature of the building makes this a unique setting, and the landlords have continued to invest in improvement schemes.”

>> Maximus maximises lettings at high-spec office park Topaz, the 45,000 sq ft office park developed at Bromsgrove by Maximus, is now fully let.

Maximus managing director Jon Hickton said the location right next to where the M42 meets the M5, coupled with a shortage of quality office space in north Worcestershire, had proved a real winner. “Topaz is a striking, contemporary business park which offers high-spec offices in an unrivalled location for businesses looking for a central England base,” he said.

Topaz lettings included national recruitment company The Best Connection, which took 7,628 sq ft for its new headquarters, infrastructure provider Prestige Technology Solutions, which relocated from Halesowen to a 4,162 sq ft space, and UTC Carrier, which relocated their Mitsubishi air conditioning business into 4,185 sq ft. Other lettings included Swedish bank Handelsbanken, software provider Fuelsoft and Instinctive Technologies and ATS Reach, who moved from their offices in Solihull at Blythe Valley Business Park.

BUSINESS QUARTER | SUMMER 15

48

>> University gets revamp A Midland creative firm has completed its part in a £1m revamp of student leisure facilities at Teesside University.

GMP Design, based in Rugeley, Staffordshire, designed and refurbished student pods for study or socialising at the Middlesbroughbased university, all fitted with USB sockets.

Neil Morton, GMP’s managing director, who was a design student at the university nearly 30 years ago, said: “This was an excellent contract to get from my old university. We have worked on student facilities all over the UK. Many features of the design are unique and will create a lasting legacy.”

Features of the design are unique and will create a lasting legacy

LEGAL AND FINANCE QUARTER Your 16 page essential guide

SPECIAL FEATURE INTERVIEW WITH PAULINE BIDDLE

Deloitte’s new practice senior partner in the Midlands.

2015 EMPLOYMENT LAW CHANGES

How UK businesses will be affected

SME GROWTH

SMEs look to make further gains in 2015

ASSET BASED FINANCE

How Asset Based Finance can help grow your business

FU £74 ND M S R OF EM NE AI W NI NG

6 deals in just 3 months!

Finance Birmingham – providing growth capital across the Midlands

Finance Birmingham provided £1m of acquisition and working capital finance to enable Goodfish, a Cannock-based injection moulder, to acquire Powell and Harber, a Worcester-based moulder.

Solihull-based sales-i, a worldwide provider of customer intelligence software, has received £0.4m of development capital funding. The finance will enable sales-i to recruit additional software and sales staff.

Finance Birmingham, alongside Santander, provided the acquisition and working capital finance to fund the management buy-out of Four D Rubber, a Midlands-based manufacturer of rubber latex sheeting.

£0.8m of finance for the acquisition of a commercial property to support Coventry-based Productiv’s expansion plans. Productiv bridges the gap between SME low carbon technology developers and large vehicle manufacturers.

Development capital funding to enable Pure, a Midlands-based telecoms business, to expand its product offering and enter new markets.

£0.8m of working capital funding to enable On-power, a Wolverhamptonbased electrical contractor, to fund its expanding order book. On-power delivers commercial electrical contracting jobs throughout the UK.

Finance Birmingham’s team of experts is fuelling the growth of UK businesses. Get in touch to find out how your business could benefit:

0121 233 4903 / financebirmingham.com Finance Birmingham Limited is authorised and regulated by the Financial Conduct Authority and is entered in the register under registration number 579201.

SUMMER 15

WELCOME

INSIGHTS FROM THE EXPERTS Welcome to BQ’s new ‘Legal and Finance’ section, which will be making a regular appearance in our quarterly magazine.

This will help BQ to guide your firm through those difficult subject areas – finding funds, making the books balance, and keeping all your staffing and operations completely within the latest laws.

Top legal and finance experts from across the West Midlands and beyond will be helping us to provide this guidance.

In the first section we feature Pauline Biddle, who has become accountancy firm Deloitte’s new senior partner in the Midlands. As well as discussing the sector, Pauline reveals how she led the Deloitte team on more than 20 recent

high-profile deals, including the acquisition of Norwich Airport by Sir Peter Rigby’s corporate vehicle, and Lloyds Development Capital’s £30m purchase of Prism Medical.

We are also joined by Ian Holder, of leading accountants Mazars, who describes how SMEs are set to grow this year after a positive 2014 and first quarter. Ian’s report also reveals how recent figures on SME growth make Birmingham the most successful city outside of London for start ups.

On the legal side, we are joined by employment expert Fergal Dowling, of Irwin Mitchell, who details a number of recent and significant changes that will impact UK businesses this year.

These include the new area of shared parental leave, which he believes will become more and more popular for new working mums and dads, and the latest legal judgments on holiday pay.

Back on the finance side, Jeff Longhurst, the chief executive of the Asset Based Finance Association, explains how the economic recovery and the revival of business optimism means now is the right time for businesses to consider investment and growth.

We hope you find these detailed insights on legal and finance matters a useful read. n Steve Dyson, editor, BQ West Midlands

INTERVIEW

SUMMER 15

It’s long been said that auditors are people who found accountancy too exciting, so it’s refreshing to spend time in the effervescent presence of Pauline Biddle.

As she enthuses with passion about every conceivable topic on the corporate landscape, you immediately sense why she’s made such an impact on the Big Four firm she joined barely a dozen years ago.

Pauline first became involved in audit work for aerospace companies in the late-90s, and her expertise with FT-SE 100 and 250 clients later helped propel her to the head of Deloitte’s aerospace and defence industry group.

It was serendipity rather than strategy, but her interest in the sector was also to suit her perfectly for her present leadership role in the Midlands, given that the region is home to one of the world’s largest aerospace clusters.

“I led our team from 2009 to 2013, often in close collaboration with our colleagues in the US,” recalls Pauline. “Aerospace is a very sophisticated and complex sector, which makes it interesting at so many levels.

“You’ve got the global OEMs, such as RollsRoyce and BAE Systems, then their huge

BUSINESS QUARTER | SUMMER 15

TALENT RELIES ON FLEXIBILITY AND AGILITY Ian Halstead catches up with Pauline Biddle, Deloitte’s new practice senior partner in the Midlands supply chains, and also the heritage aspect, which we saw highlighted recently with the 70th anniversary of VE-Day. “The scale and importance of aerospace means there’s always a political backdrop, whether it’s in the commercial or military sectors, so it’ll be interesting to see if there’s another Strategic Defence Review now

52

Michael Fallon is back at the MoD.” It’s a little unfair to ask Pauline to select just one highlight from her time in aerospace, but she cites helping to advise VT Group before it accepted Babcock International’s £1.3 billion offer in 2010.

“It’s been intriguing to see many UK-based clients adopting ‘buy and build’ strategies in

LEGAL AND FINANCE QUARTER

SUMMER 15

the US, so it’ll be interesting to see how they progress. I suspect we’ll also see the trend for diversification continue, as companies from an aerospace background look to different sectors, such as cyber-security,” she says.

“I still enjoy going to Farnborough, just to look at the scale and capabilities of our aerospace industry. I don’t think we always appreciate the wealth and employment it generates for our economy, or that it really is a world leader in advanced engineering.”

Pauline may have stepped down from aerospace and defence industry work, but she remains embroiled in M&A activity.

Over the last year, she’s led the Deloitte team on more than 20 high-profile deals, including Mercia Technologies’ move to AIM, the acquisition of Norwich Airport by Sir Peter Rigby’s corporate vehicle, and Lloyds Development Capital’s (LDC) £30m purchase of Prism Medical. Her most recent involvement in such activity was the complex deal which saw LDC pay a shade over £300m to acquire NEC Group from Birmingham City Council.

Her expertise has spanned three of Deloitte’s four core activities, audit, consulting and corporate finance, but the NEC deal also embraced the firm’s tax, business modelling and real estate teams.

“It was a flagship deal for the region, and very enjoyable to assist LDC on such a major acquisition,” says Pauline. “Many of the private equity players have become more London-centric in recent years, but LDC has never diluted its regional focus.

“It was also good to see Deloitte Real Estate playing a major role, looking at the different property assets of the NEC Group, such as the NIA and the Genting Arena.

“When Deloitte bought Drivers Jonas just over four years ago, the timing did seem unusual given the strength of the market, but we are now seeing the logic for that deal, and at an operational level, the synergies are evident.”

Given Pauline’s experience in the international M&A arena, it’s intriguing to hear her take on how such activity might look for UK corporates in the months ahead, now the political landscape has changed so unexpectedly.

LEGAL AND FINANCE QUARTER

“We’ll certainly see companies still looking to invest overseas, although given the current economic and political challenges of such countries as China, Russia and Brazil, you’d expect to see deals taking place in stronger environments,” she says.

“The political risk for business has been reduced by the election outcome, but not eliminated, even though it is positive to see a pro-business government returned to power.

“We carry out a quarterly survey of chief financial officers, and in Q1 2014, their major concern was the independence referendum in Scotland. This year, it was how the EU referendum will play out, and both those issues remain unresolved.”

Of course, as throughout the professional services sector, there are ever-present

It’s a powerful feeling when people look to you as a role model challenges concerning both the recruitment and retention of talent, and the presence and promotion of female employees.

Pauline isn’t the first female senior figure in a Big Four practice in Birmingham, with Jane Lodge as one of her recent predecessors, and Sara Fowler holding a similar position at EY, but she’s still in the minority.

“I don’t like quotas, and you should always be the right person regardless of your sex, but equally, I do think it’s important for us, and our clients, that we have a leadership team which is relevant to the markets we serve,” she says.

“Some countries, particularly the US, have a higher representation of females at CEO level, and different countries also have different perceptions about diversity.

“Even in the 22 years since I graduated, the pace of change has been slower than I thought likely. I’d expected to see more

53

INTERVIEW

females in the boardrooms of FT-SE 100 companies.

“But I’ve been gratified and proud at the number of female colleagues who have sought me out to discuss how they might realise their full potential. It’s a powerful feeling when people look to you as a role model, and an honour for me to be in such a position.”

Her career within Deloitte saw Pauline spend time in London, Bristol and Reading, before heading to Melbourne and California, so as a newcomer to the Midlands, has she found perceptions matching reality?

“I knew about aerospace and other corporate brands, so I was aware of the presence of JLR, Rolls-Royce, Experian, GKN, IMI and the other blue-chips, but hadn’t realised Birmingham had such vibrancy,” she admits.

“I used to come here shopping with my parents, when I was growing up in South Wales, but the city is absolutely unrecognisable now. I’ve seen how successful Deutsche Bank’s move here has been, and HSBC’s relocation underlines how positively Birmingham is regarded by those outside the region.”

Just as the city has been transformed in recent years, how does Pauline expect the future Deloitte to evolve its presence?

“In terms of location, I’m sure our major footprint will continue to be in the centre of cities where we choose to be, because we’re focused on team-working and people from different disciplines need to come together,” she says.

“As to our structure at a national level, I think we’ll see more people coming out of London and working from the regions. It has to be about recruiting and keeping the best talent, so if people would rather live in Birmingham or elsewhere, we will endeavour to make that possible. Flexibility and agility will remain key elements of the firm’s talent agenda.

“In terms of how we operate, then data analytics and the most efficient use of ‘big data’ will definitely play an increasingly critical role, and technology will have a major impact on how we work day-to-day, and I anticipate that this will be much more transformational in the future than it has been to date.” n

BUSINESS QUARTER | SUMMER 15

LEGAL UPDATE

SUMMER 15

A LAW IN ITS INFANCY A number of employment law changes that will impact on UK businesses came into force in 2015. Fergal Dowling, partner at the Birmingham office of law firm Irwin Mitchell, highlights one of the most significant ones – shared parental leave One of the most high profile changes recently has been the introduction of shared parental leave. From April, new parents and adopters have an opportunity to share up to 52 weeks’ leave between them and up to 37 weeks’ pay, in a way which best suits their families, via a new right called shared parental leave (ShPL) and shared parental pay (ShPP).

Eligible parents will be able to take time off together to care for their child, transfer leave to their partner, and return to work in between leave periods during the child’s first year. The scheme potentially offers parents a huge amount of flexibility, but to achieve this, the rules are highly complex.

Parents do not have to take ShPL – it is entirely optional and those who do not ‘opt in’ will still benefit from existing family friendly rights such as maternity, adoption and paternity leave.

Employees do not have to make a decision about whether they wish to take ShPL before their baby is born or their adoption takes effect.

Instead, they can start maternity or adoption leave and then decide to convert any remaining leave to ShPL at a later date.

ShPL is only available to eligible parents whose babies were due on or after 5 April 2015, or to adoptive parents who have a child placed with them on or after this date.

Only employees can apply for ShPL and it is not available to agency workers or to those who are self-employed.

To qualify, employees must have been continuously employed for at least 26 weeks before the 15th week before the baby is due and must remain so.

The co-parent must also be ‘economically active’, which means that they must have

BUSINESS QUARTER | SUMMER 15

worked (although not necessarily as an employee – agency staff may also qualify), and earned a minimum amount over a qualifying period.

So, if the employee is the sole bread winner, he/she will not be eligible for ShPL.

54

Employees may also be eligible to receive Shared Parental Pay (ShPP) for up to 37 weeks provided there is some remaining statutory maternity or adoption pay that would otherwise be available which can, subject to certain rules, be transferred to the other

LEGAL AND FINANCE QUARTER

SUMMER 15

parent or utilised by the primary carer.

ShPP is paid at a flat rate (currently £138.18 per week).

POPULARITY There has been much discussion and speculation in terms of how popular ShPL will be. Each year 285,000 working couples are expected to be eligible. However, the Government predicts that just 5,700 couples will take advantage in the first year.

At Irwin Mitchell, we think demand might be higher. Indeed our survey revealed that a third of men thought ShPL would be the most sensible option for their family as their wife or girlfriend earns more than them. Nine out of 10 couples where the woman is the main breadwinner said that they worry how they would cope financially if the mother were to take their full maternity leave. Sixty-one per cent of men claim they would be happy to become a stay-at-home dad, even if it had a detrimental effect on their career in the future.

NOTIFICATION REQUIREMENTS So how should an employee approach their employer about this? Well, an eligible mother who wants to take ShPL, or enable her eligible partner to take it, must first end her maternity or adoption leave.

She can do this by returning to work before the end of her maternity leave period, or by giving notice that she intends to end it at a future date.

Employees must give their employers at least eight weeks’ written notice of the date they wish to take leave and this must be signed by the eligible co-parent.

Employees who ask to take a single block of leave are entitled to take it. However, if an employee asks in a single notice to take leave in different blocks, her employer does not have to agree to it.

Instead, it has two weeks to discuss the pattern of leave and suggest alternatives.

If the request is refused, the employee has the right to take the amount of leave as a continuous period.

Whilst employers can reject requests for discontinuous leave without giving a reason, we believe that it would be unwise to do so as employees have the right to withdraw and

LEGAL AND FINANCE QUARTER

LEGAL UPDATE

resubmit their request, and there is no limit on how many times they do so.

More importantly, employers that reject requests for discontinuous leave face the prospect of grievances and allegations of discrimination, particularly from male employees who may argue that female employees are more likely to have requests for discontinuous leave approved.

Employers need to be ready to assess requests for discontinuous leave consistently, irrespective of gender and by reference to fair and well-documented business reasons.

TOP TIPS To assist businesses with ShPL, Irwin Mitchell has produced the following top tips to help businesses deal effectively with the legislation; • Do not underestimate the popularity of Shared Parental Leave – according to our recent survey, more than a third of men say that being a stay at home dad would be the best financial option for their family.

• Don’t leave it to the last minute – employers should put in place appropriate policies and procedures as soon as possible.

• Consider requests for discontinuous leave by reference to fair well-documented business reasons.

• Conduct an impact assessment of the new rules after six and 12 months. This assessment will help identify uptake and can form the basis of any decision taken on whether to offer enhanced shared parental pay or not.

• Make sure that requests are dealt with in a sensitive (and non-discriminatory) manner.

HOLIDAY PAY The other key issue concerns holiday pay and in particular, how much workers are entitled to be paid when taking annual leave if the

individual earns overtime or commission.

Last year, the Employment Appeal Tribunal found that workers who regularly worked contractual overtime and received taxable allowances linked to their work were entitled to have these payments included in their holiday pay and that it is unlawful for employers to only pay holiday at a basic rate.

In addition, the European Court of Justice (ECJ) found that a worker whose salary included regular large commission payments should be compensated when taking holiday because he was not able to earn commission.

This high profile Lock v British Gas case was also heard at an Employment Tribunal on 4 February 2015 after the ECJ ruling last year.

In the case of Mr Lock, the ECJ ruled he was disadvantaged by the fact he couldn’t earn commission whilst on holiday and therefore this had an impact on his earnings in the following month.

In a judgment handed down in March, the Employment Tribunal has now determined that the UK’s Working Time Regulations can be interpreted in line with the European ruling.

Now that it has cleared that ‘hurdle’, we believe it could change the way that companies pay some commission in the future and believe it could potentially open the floodgates for back pay from employees who have similar commission arrangements and believe they have been disadvantaged.

These decisions are significant and suggest that many employers and agencies have been underpaying holiday for the last 16 years.

Although they are subject to certain limitations, businesses should certainly review the holiday pay calculations of their employees and agency staff they are responsible to pay, to ensure that they comply with these rulings and include all necessary payments. n

Sixty-one per cent of men claim they would be happy to become a stay-athome dad, even if it had a detrimental effect on their career in the future

55

BUSINESS QUARTER | SUMMER 15

AS I SEE IT

SUMMER 15

IT’S TIME TO TAKE A GLOBAL OUTLOOK After a positive 2014 and first quarter, small and medium enterprises should make further gains in the rest of 2015. Top regional accountant Ian Holder believes they will Recent figures on SME growth have been highly encouraging given that it is outside of the EU and US – has slowed, but has settled start-ups and small businesses which employ the vast majority of the at a more sustainable level, with an annual growth target UK’s workforce. of 7%.

StartUp Britain, based on analysis of data at Companies House, revealed The Chinese own Coventry-based black cab maker London Taxi that 18,337 new businesses were registered in Birmingham in 2014, Company, Covpress and MG, yet the West Midlands’ the highest of any UK city outside of London and an increase of export surplus with China stood at an incredible £2.76bn last year.

2,000 on the year before.

So Government encouragement for SMEs to dip their toes into A cautionary note though – while there are around 400,000 new exporting, particularly to China, is beginning to bear fruit. Statistics business start-ups in the UK annually, one-third cease trading show that businesses are 11% more likely to survive if they do export. within three years.

Traditional reluctance often surrounds a lack of knowledge and a fear of In today’s global trading environment there’s no escaping the taking risks in unfamiliar territories. But help is available via international ups and downs of the world economy – even for SMEs. accountants like ourselves, UK Trade & Investment and Chambers of The volatility in 2014 was the result of a broad range of Commerce. And as long as the value of the pound stays within events such as Russia’s annexation of Crimea, the Ebola acceptable boundaries, exporting remains attractive. Indeed, in 2014 crisis, the end of quantitative easing in the US and political the West Midlands had lots to be proud of, with exports up 11% at uncertainty across Europe. In particular, elements like the £28.4 billion, the UK’s largest increase, making the region the third Crimea and Ebola, which no-one predicted, can be the biggest exporter. Much of that is, of course, down to the incredible success of most dangerous for sapping confidence, as business Jaguar Land Rover and a strong car sector generally. hates uncertainty. I’m sure that as 2015 marches on, The JLR story continues to be amazing – a sales boom, thousands of new we’ll face concerns that are not on anyone’s radar jobs, huge investment, quality cars people want to buy and a packed new right now. model pipeline.

What we do know is that fears have re-surfaced UK car sales rose 9.3% in 2014 to reach a ten-year high of 2,476,435 units. over the future of Greece, and that most European And the end of the first quarter of 2015 saw the UK notch its highest economies – the UK’s main target – remain pretty monthly level of new car sales this century. stagnant, so that’s not good for exporters.

All this has seen an order bonanza for local car component suppliers, but Meanwhile, the Chinese economy – the world’s they must keep their focus. Cash flow is vital. It is not a lack of customers or second largest and the UK’s biggest trading partner products that will destroy a business – it’s a lack of cash.

BUSINESS QUARTER | SUMMER 15

56

LEGAL AND FINANCE QUARTER

SUMMER 15

Statistics show that businesses are 11% more likely to survive if they do export...reluctance surrounds a lack of knowledge and a fear of taking risks

AS I SEE IT

Working capital is so important. Margins in the automotive sector are notoriously thin and lead times can be lengthy. This is where advisers can help – checking contracts, mitigating potential risks.

Two other significant factors for SMEs are skills and the availability of credit. The need to improve skill levels is probably the number one challenge across the West Midlands. All sorts of bodies – the Government, LEPs and companies themselves – are making progress, but it’s far from being solved.

Employers have long complained that it’s difficult to recruit people with the right skills and attitudes to work, hitting their ability to innovate and take advantage of new opportunities.

And with JLR taking on significant numbers of engineering graduates as well as apprentices, it’s harder for second and third tier suppliers to recruit. Credit is the other big issue, but its availability does seem to have improved for those with credible business plans and the security required. While many smaller companies remain wary of relying on bank borrowing and continue to pay down debt, interest rates remain stable, the longest low spell in living memory.

Overall, at the start of 2015, most surveys suggested the UK will expand at a healthy rate somewhere between 2% and 3%. Given the political and economic risks at home and abroad, that would probably represent a good outcome. n Ian Holder is an audit partner based in the Birmingham office of international accountancy firm Mazars, which has over 1,500 partners and staff at 20 officers across the UK. He can be contacted at ian. holder@mazars.co.uk and on 0121 232 9500. n

LEGAL AND FINANCE QUARTER

57

BUSINESS QUARTER | SUMMER 15

THE UK’S INTELLECTUAL PROPERTY LEAGUE

IP 10 0

THE IP100 - RECOGNISING THE VALUE OF IP IN YOUR BUSINESS BQ Magazine is delighted to announce the launch of the Intellectual Property (“IP”) League Table and the IP100, compiled in association with Metis Partners, an award-winning IP solutions firm The IP League Table will profile and rank innovative companies within the UK’s private sector, highlighting those businesses which have significantly invested in their IP in the form of IP creation, IP management policies, R&D activities and IP commercialisation. The top-scoring companies will be published in the IP100, an annual ranking of companies that are considered to be the most effective at commercialising their IP assets. The ranking process involves an assessment of IP-specific data linked to the following IP asset classes: brands, software, patents, trade secrets and critical databases. A proprietary scorecard will be applied to calculate an IP score, and the IP100 team will rank companies based on the results.

The IP League Table will give companies the platform to get recognition for the value of their IP, whether using IP to: • Boost the exit valuation of a business • Improve access to new markets • Protect existing market share • Create new barriers to entry IP also has the ability to play an important role in transforming funding options available to businesses. The IP League Table will enable companies to showcase their investment in intellectual property and potentially leverage the associated value to raise finance and restructure debt.The IP League Table is open to all UK companies and is FREE TO ENTER.

ENTER THE IP100 NOW The IP100 is open to all UK companies to enter and details about the process as well as the information

Enter now at www.bqlive.co.uk/IP100

required can be found at www.bqlive.co.uk IP100

COMPANY PROFILE COMPANY PROFILE SUMMER 15 15 SUMMER

Businesses refocus as election delivers greater certainty With the General Election now over, businesses will be refocusing upon their strategies. Jackie Hendley, Head of Office at Smith Cooper in Birmingham looks at some of the tax promises made by the Government during their General Election campaign “General Elections create uncertainty and with one as unpredictable as that which took place in May this year, there was little wonder that an impact was felt across the business world.

“Now, post Election and with a majority Government in place (albeit a small overall majority), many businesses across the region will be refocusing their attentions on their growth strategies.

“One of the reasons why businesses slow or halt activity during the run up to a General Election is due to the uncertainty over the future tax environment. Often parties can vary significantly on their taxation policies and this Election was no different.

“So, with the Election now over, what do we know about the potential tax environment under a majority Conservative Government?

“During the General Election campaign the Conservative Government said that “working people in this country have paid enough tax” and so, the party would focus on other ways of clearing the deficit. These included spending cuts, the reduction of Government waste, reducing the welfare bill and continuing to clamp down on tax avoidance.

“They also went on to pledge there would be no rise in VAT during their five-year term in office.

“Businesses would also have been relieved to hear that the Conservative Government will freeze

Jackie Hendley, Head of Office at Smith Cooper in Birmingham

the rate of National Insurance Contributions for the duration of their five year term as well as maintaining the abolition of employers’ National Insurance Contributions for those under the age of 21 and next year for apprentices under 25.

“All of this was supported with a pledge to provide UK businesses with the most competitive taxes of any major economy.

“Their proposition is that the Government will be focused on providing the right environment for businesses to thrive and this must also include those entrepreneurs looking to take the leap and start up in business on their own. The

As the Conservative Party starts their new five-year term of office, the eyes of the business community will be upon them

LEGAL AND FINANCE QUARTER

59

Conservative Party was keen to highlight their support for business start-ups, stating they would triple the number of such loans to 75,000. As anyone starting a business will know, funding can often prove a difficult road to travel.

“As the Conservative Party starts their new five-year term of office, the eyes of the business community will be upon them. From the EU referendum to the delivery of their manifesto for all sizes of business, owner managers and business leaders will be looking to their Government to help create a thriving economy that is not stifled by red tape.

“David Cameron stated he wanted to make Britain the best place in the world to start a business.

Here in the Midlands we are home to a wealth of innovative and entrepreneurial businesses and individuals. Only time will tell if the Government is able to create the right environment to help these businesses thrive.”

Over the past 30 years, Smith Cooper has become one of the largest independently owned accountancy and business advisory firms for owner managed businesses across the Midlands.

Smith Cooper provide a wide range of specialist services to both corporate and individual clients, including accounting, taxation, corporate finance and a range of IT services. To find out more contact Jackie Hendley on 0121 236 6789.

BUSINESS QUARTER | SUMMER 15

DELIVERING C E R TA I N T Y TO BUSINESSES IN 2015

JACOPA LIMITED Wastewater Services ASSET BASED LENDING – MANAGEMENT BUY OUT Undisclosed

MEDICA PACKAGING Manufacturer & Distributor ASSET BASED LENDING – PE BACKED ACQUISITION £3,700,000

“We developed a good rapport with the Business

“I could tell from the first meeting that Shawbrook Business

Development Director and our confidence in Shawbrook

Credit got it and they delivered exactly as they said they

extended through their detailed evaluation of our business

would, thankfully without even a single wobble along the

plan and the meetings at our offices with their Senior Client

way which would have lost me some sleep! Traditionally

Manager. In the final negotiation stage of the deal with the

you would always have at least one back-up finance

Seller, the team at Shawbrook Business Credit was always on

house, however in this case, the benefit from working with

hand to assist in working out final points of detail, enabling us

Shawbrook Business Credit exclusively in terms of expediting

to meet the tight timescales in which to complete the buyout.”

and therefore securing the transaction was enormous.”

Alex Lloyd, Managing Director of Jacopa Limited

Layton Tamberlin, Sullivan Street Partners

T A L K T O U S T O D AY

T 0121 262 4029 | 07703 107488 paul.edmeades@shawbrook.co.uk WWW.SHAWBROOKBUSINESSCREDIT.CO.UK

T H I S A D V E RT I S E M E N T I S I N T E N D E D F O R I N T E R M E D I A R Y U S E O N LY A N D M U S T N O T B E D I S T R I B U T E D TO P O T E N T I A L C L I E N T S .

SUMMER 15

ASSET BASED FINANCE

ASSET BASED FINANCE: INTO THE MAINSTREAM?

Jeff Longhurst, Chief Executive Officer of the Asset Based Finance Association (ABFA) which represents the invoice finance and asset based lending industry in the United Kingdom and the Republic of Ireland With the economic recovery prompting some revival in business optimism, now is the right time for businesses to consider what options are available to them to fund investment and growth. That’s leading more of them than ever before to use asset based finance. At any one time, ABFA Members are now advancing almost £20 billion in funding to businesses across the UK and Ireland, supporting clients with a combined turnover of almost £300 billion in 2014. Invoice finance and wider asset based lending have long been seen as a key alternative to ‘conventional’ sources of finance such as overdraft and term loans. However the changes in the business finance landscape in recent years have meant that asset based finance is no longer just an alternative. It’s now firmly in the mainstream, as a core part of the funding suite for businesses of all sizes.

But what factors have driven this move into the mainstream?

Firstly, the speed and flexibility with which an ABFA Member can provide funding mean that businesses can get their growth plans off the drawing board and into reality more quickly than they could with a traditional lending product.

Asset based finance providers are able to ‘look through’ the business to the strength of the client’s underlying assets – in particular to its debtor book, as represented by its invoices.

By looking at a client’s true strengths, rather than being solely reliant on often out-of-date financial indicators contained in the accounts, for instance, an asset based financier will often be able to provide more funding more quickly.

The industry has evolved to provide funding against a wider range of assets beyond the

LEGAL AND FINANCE QUARTER

Asset based finance providers ‘look through’ the business to the strength of the client’s assets invoices (factoring and invoice discounting – referred to collectively as invoice finance) that marked the industry’s origins. Wider asset based lending packages now make up around 20% of the total funding provided

by ABFA Members. Through asset based lending, funding can be provided against a

61

range of other assets, including stock, plant & machinery, property and also intangibles such as IP and forward income streams.

Another advantage of asset based finance that has come to the fore in recent years is its scalability. The funding available through asset based finance grows as the client grows and this can free up senior management to focus on building the business rather than spending time worrying about securing additional funding as the business evolves.

Asset based finance can also help businesses deal with ever-increasing payment terms from large customers. Long waits for payment, which have become increasingly common in recent years, can quickly impact on a company’s cash flow and its ability to take advantage of opportunities. Invoice financing offers a cost-effective solution as it enables companies to free up their finances in order to cover fluctuations in cash flow and deploy funds at short notice.

In addition, invoice financiers are often able to provide a range of additional services to their clients, including collections, credit control and sales ledger management (in factoring).

This can be particularly helpful for smaller businesses, effectively allowing them to outsource their credit control to specialists and focus on growing their business. In addition, both factoring and invoice discounting can be provided with bad debt protection on a ‘nonrecourse’ basis, whereby the finance provider takes on the risk of non-payment.

For growing businesses looking to find funding to make the most of their opportunities, asset based finance is now a key option within the funding toolkit. n

BUSINESS QUARTER | SUMMER 15

INVOICE FINANCE // STOCK // P&M // TRADE // PROPERTY // TERM LOANS

You build the business.

We’ll build the confidence. e flexibility and expertise of an independent, together with the strength and extended product range of its parent, Bank Leumi (UK) plc, make a winning combination. Specialising in structured ABL facilities up to £30m with exceptional levels of client service.

Bathroom distributor required flexible funding to support MBO

High precision coatings manufacturer required flexible funding to support growth plans

Leumi ABL provided

Leumi ABL provided

£8.5m ABL facility including CID, stock, loan + trade finance

Structured multi million £ CID + P&M facility

To find out more about the Leumi ABL approach to business call Jason Holland on 07824 486820 or email jholland@leumiabl.co.uk or visit www.leumiabl.co.uk Brighton ■ London ■ Birmingham ■ Leeds ■ Manchester ■ Reading ABL MULTI FINANCIAL AWARD WINNERS 2014 -2015

SUMMER 15

ASSET BASED FINANCE

INFORMATION IS THE KEY TO GETTING THE RIGHT FUNDING TO SMEs Jeff Longhurst explains why the ABFA believes that for SMEs seeking funding to drive their growth, knowledge is power At the ABFA, we believe that for SMEs seeking funding to drive their growth, knowledge is power. That is why we are fully behind two significant initiatives that came out over the last 12 months – the consultation on helping to match SMEs rejected for finance with alternative lenders, and the Business Finance Guide. The Association strongly supports the initiative to have banks that turn down SMEs for loans pass their details on to ‘alternative’

providers of finance who may be able to provide funding that is more suitable for their business. The commercial finance world is evolving; as well as asset based finance, technology is facilitating the development of a wide range of new funding products beyond the ‘traditional’ sources of funding. Providing SMEs with better information about the finance options that may be appropriate for their businesses is crucial for this.

The Business Finance Guide, produced by the British Business Bank and the ICAEW Corporate Finance Faculty, is an excellent initiative to raise awareness of the financing options available to businesses. Covering a huge range of funding choices, the Guide is an invaluable aid to SMEs in deciding which form of funding best suits their particular needs.

The more businesses know about the varieties of finance on offer, the better-positioned they are to find the blend that suits them.

We hope to see the new Government continue with the commitment to moving the ‘alternative’ into the mainstream, getting even more funding to the UK’s vital SME community. n

Transactions structured to succeed Whether you are seeking to finance mergers and acquisitions, MBOs, MBIs or restructures, Hampshire Trust Bank’s Commercial Finance team is focussed on your objectives. We provide flexible asset-based lending and structured finance facilities dedicated to helping you realise your ambitions.

Here are just three of the tailored asset-based lending transactions we have delivered recently for UK businesses.

Trueform Engineering Ltd

MCS Control Systems Ltd & EMR (Brackley) Ltd

Agilitas IT Solutions Limited

£3.7m

£1.5m

£2.5m

Passenger Transport Engineering Solutions

Manufacturers of Electronic Control Systems

Inventory Management and Technology Services Provider

Our focus is your success Contact us on 07920 492026 or email rob.gilmore@htb.co.uk.

www.htb.co.uk Hampshire Trust Bank is the trading name of Hampshire Trust Bank Plc registered in England and Wales under number 1311315 (Registered Office: 131 Finsbury Pavement, London EC2A 1NT). Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority – Financial Services Register Number: 204601.

DONE DEAL At PNC Business Credit, ‘Done Deal’ is more than a tag line. It defines our business.

Widely regarded as the UK Asset Based Lender of choice by the Private Equity community, advisors and companies alike, we provide funding for mid-market companies that delivers detailed understanding and flexibility, combined with unparalleled access to our senior team.

DONE DEAL

DONE DEAL

DONE DEAL

£45,000,000

£9,000,000

£40,000,000

Asset Based Lending

Asset Based Lending

Asset Based Lending

Steel Stockholders

Fine Jewellery

Automotive Components & Distributors

DONE DEAL

DONE DEAL

£40,000,000

£9,500,000

£25,400,000

Asset Based Lending

Asset Based Lending

Asset Based Lending

Chilled Savoury Food Manufacturing

Powdered Drinks & Desserts

Steel Stockholders

DONE DEAL

Do you have a deal that needs to get done? peter.whatson@pnc.com +44 (0)121 262 4055 | +44 (0)7796 173462 PNC Bank is a registered mark of The PNC Financial Services Group, Inc. (“PNC”). Asset–based lending is provided by PNC Business Credit, a division of PNC Bank and PNC Financial Services UK Ltd. (an indirect wholly owned subsidiary of PNC Bank,) in the United Kingdom. Lending and leasing products and services, as well as certain other banking products and services, require credit approval. ©2015 The PNC Financial Services Group, Inc. All rights reserved.

BRIGGS ON WINE My tasting fell on the Bank holiday weekend, with the pending General Election dominating the news. So, as wine is always best enjoyed in a social context, I decided I would seek the support of family and friends and collect their comments democratically. Although I’d seen tasting notes for the wines, my companions elected to taste them ‘blind’.

The French white – Domaine de La Baume ‘Les Maries’ – looked clear and pale and initial smell and tastes that came through were of lemon, slight asparagus (well it is in season), grapefruit and cooked green apples. The blind tasters correctly identified the Sauvignon Blanc grape and declared it eminently drinkable.

One taster correctly identified its origins as the Languedoc in southern France. It has a strong but elegant personality. We thought that it would go well with food and that goats cheese or baked cod might be good pairings. An unmarried member of the team commented that if it was a girl, he would certainly want to ‘chat her up’.

The red was an Australian Shiraz Cabernet blend from Victoria, ‘Route du Van’.

My fellow tasters identified the wine as ‘New World’, without pinpointing it as Australian.

Its appearance is clear, medium, ruby. Its bouquet, to use an Australian term, was weak, thin and fresh with a sniff of eucalyptus, more cherry and currants.

Its taste at first is slightly sharp and quite tannic with shades of pepper, but became softer the longer it was in the glass. We thought it would be versatile with food.

We did not cast a vote of one wine against the other, but decided that, like politicians, each had taken some of the other’s clothes; the old world French wine was bolder and stronger than one might expect, with the Australian being quieter than many of its countrymen. n The red Route du Van retao is £12.25 and the white Sauvignon Blanc is £9.95.

Wines were donated by Connolly’s Wine Merchants and can be brought from Dovehouse, Connolly’s Wine Merchants Ltd, 379 – 381 Warwick Road, Olton, Solihull, B91 1BQ. Tel: 0121 709 3734 Connolly’s Wine Merchants Ltd, Birmingham Livery Street, B3 1EU. Tel: 0121 236 3837, connollyswine.co.uk

Henry Briggs, senior partner of the Birmingham office of Haines Watts, Chartered Accountants, tries a French white and an Australian red

A VOTE FOR WINE

65

BUSINESS QUARTER | SUMMER 15

BUSINESS LUNCH I love a little challenge, like when an interviewee warns me before I’ve even started scribbling my shorthand notes that he’s determined not to say anything contentious.

Surely, my argument goes, after nine years as chief executive of the Greater Birmingham Chamber of Commerce, you must have something ‘inspiringly controversial’ that needs saying? At the very least, a few prime, retrospective thoughts on what’s needed next for the region? And I’m pleased to say that Jerry Blackett, having said he wasn’t going to, was soon putting the world of business to rights – and throwing in a little grenade of politics for good measure.

“The most I’d be drawn to ruminate on,” he ventures, “is the time it’s taken for our region to work out what binds us together, and to realise that the economics for macro investments are only deliverable if we work across not just the West Midlands but also the East Midlands.”

Jerry’s talking, of course, about how Birmingham City Council has always struggled to break down political barriers with its Black Country neighbours of Dudley, Sandwell, Walsall and Wolverhampton, often finding it even more difficult to work with Coventry and Solihull. And that’s before anyone thinks about involving cities outside of the West Midlands.

His rumination becomes a gentle jibe: “The news about Greater Manchester’s combined authority getting health and education powers worth billions of pounds should be a wake-up call, if we needed one.”

So I push a little harder: surely Birmingham’s business leaders are big enough to pull their own weight, to fight their own battles and build their own investment argument with central government, without having to lean on the poor, undernourished, austerity-hit local councils?

Jerry’s having none of that, although he remains polite: “Councils deliver the democratic mandate for local action. It’s simply not possible to shift complete responsibility for

BUSINESS QUARTER | SUMMER 15

I’D TAKE A CHANCE ON A ‘BORIS’

66

BUSINESS LUNCH

Jerry Blackett, the departing chief executive of the Greater Birmingham Chamber of Commerce, says the region badly needs an elected mayor.

Steve Dyson finds out more over lunch

67

places to semi-accountable bodies like local enterprise partnerships [LEPs].

“There’s an important place for business leaders to help and the LEP mechanism is the best one around. But we need a strong democratic mandate. The Kerslake report has revealed how much there is to fix [at Birmingham City Council], with better people and financial plans needed and better partnership working. We need to help Albert [Councillor Sir Albert Bore, the current Labour leader of the city] all we can.”

But is a better Birmingham City Council enough? No, not according to Jerry, who adds: “I’d risk an elected mayor and would not tremble if the government forced one on us. Or more likely, dangled such a big wedge of cash, like the £1bn that Manchester got, to encourage the local authority to vote a mayor model in.”

Elected mayors can be risky, of course, with the example of Chicago being on its knees financially, thanks to the bloated public sector built by the Daley dynasty. But Jerry points at Michael J Bloomberg, New York’s mayor from 2001 to 2013, and both Ken Livingstone and Boris Johnson, London’s mayors of different colours, as successful examples.

A little background is needed: the question of elected mayors was debated by both political and business leaders in Birmingham for the best part of two decades. But when the idea was finally put to the electorate in a 2012 referendum, it was rejected by 58% of voters.

More recently, Greater Manchester’s ten councils agreed to create a so-called ‘metro mayor’, and as a result the government has hinted that the West Midlands could also get an elected mayor to preside over a ‘city region’ – regardless of Birmingham’s referendum result.

And this is what Jerry fancies, because: “We can’t afford to have a council that doesn’t work. We have to have a local authority that’s working properly, and if we can’t achieve it through the current model, either they >>

BUSINESS QUARTER | SUMMER 15

BUSINESS LUNCH

[the government] will tell us we’re having one or will incentivise us, and I don’t care which.

I’d take a chance and risk having an elected mayor. There’s no guarantee of nirvana, but if you got the right one you can galvanise people behind a cause.”

Interestingly, Jerry believes that the major barriers for such a mayoral agreement in the West Midlands are being placed by the noble council of Solihull, rather than the region’s more working class local authorities.

Jerry himself lives in Dorridge, Solihull, but is critical of anyone who feels the slightly snooty borough should be ring-fenced: “If anything’s standing in the way it’s indefensible sovereignty issues, and the most suspicious council is Solihull. Solihull has a lot going for it – both the National Exhibition Centre and

BUSINESS QUARTER | SUMMER 15

Birmingham Airport lie within its borders, along with economic assets like Jaguar Land Rover, and in terms of GVA it’s one of the top 20 boroughs.

“But Solihull worries about what they call the ‘Solihull £1’, because they collect a lot of business rates, and wouldn’t want that diminished by Birmingham or the Black Country, which might only be worth 60p. They [Solihull Council] are accountable to Solihull ratepayers, and so have to show by combining they’re going to get £1 and a penny.

“There are also greenbelt planning issues, which Solihull’s being asked to consider for house-building, and that might be necessary.

We can’t just stop development because of the greenbelt, we’ve got to talk about it. We need houses in Solihull for people with jobs in

68

Birmingham – we’re all in it together.

“So there’s a level of maturity that’s needed because we have to deal with those sacred cows. We just can’t have anything nonnegotiable when we want to be one of the 100 global cities.”

Jerry’s also interested in the region forging better business and especially transport links with the East Midlands, which could include cities like Derby, Leicester, Northampton, Nottingham and Stoke, to name just five.

He says: “The work I’m involved in via Midlands Connect has identified five growth corridors that also serve the largest Midlands cities. There is an untapped £1bn in new GVA that can be released simply by improving the road and rail connections. That’s before factoring in the uplift possible from HS2 and

BUSINESS LUNCH an expanded Birmingham Airport.”

As well as attracting business investment and growth via an elected mayor and better regional cooperation, Jerry also believes that greater research and development is needed to drive increased productivity, with higherpaid – but not necessarily more – jobs.

He says: “We want the standard of living to rise in the region. There’s lots of talk about employers paying the ‘living wage’ and not the lower ‘minimum wage’, because of the worries about rising wage inequality and the super-rich.

“Real median incomes are down by 4% between 2009 and 2012, not unusual in recessions. What’s different this time is the sluggish rise in incomes during the recovery – expected to be only 1.8% in the three years since 2011 against 13.2% in the 1970s and 9.2% in the 1980s. Such a long period of stagnant living standards is not to be found in living memory.

“The main cause of the slow recovery in standard of living has been feeble recovery in GDP per head. In the 3rd quarter of last year – despite the UK’s recovery – real GDP per head was the same as in the 3rd quarter of 2006, and 1.8% lower than in the first quarter of 2008, the pre-crisis peak.

“Given jobs numbers have grown, this means the problem is feeble productivity. In the 3rd quarter of 2014, output per job was still 1% lower than in the first quarter of 2008. Output per hour was worse at 1.8% lower.”

That’s a lot of percentages and financial quarters, but what Jerry’s saying is: “Living standards will only rise with productivity growth. And improving productivity requires businesses to invest more in research and development. Figures show that at our worst we invest only a third of the equivalent of Germany and the US. We also need to invest in developing skills – not just throwing cheap labour at production problems.

“So we need to look at government schemes like the Regional Growth Fund [RGF].

I’d risk having an elected mayor... if you got the right one you can galvanise people behind a cause Currently, RGF money’s only awarded if a company can generate private sector jobs.

It seems to me that job creation is not the issue. What matters is business investment and training.”

Jerry adds: “I was with a businessman the other day who was describing that what his business needs is two robots. He has won some RGF but is really struggling to find a good reason to create jobs he really doesn’t need. Politically, of course, governments want to say they have created jobs – productivity improvements are far more nebulous.”

It seems to me that Jerry’s got a pretty clear idea on what’s needed for business and industry in the region. With so much to do, won’t he miss being at the helm of the Greater Birmingham Chamber of Commerce?

On this point, he’s definite, if too humble: “Nine years is enough. I don’t want to become one of those people who says: ‘We tried that before and it didn’t work.’”

His plans for semi-retirement include plenty of reading and writing – maybe even stretching to a novel, lots of travelling with wife Flora, plenty of exercise and possibly a touch of public speaking. But I doubt that’s all we’ll hear from Jerry Blackett: if I’m right, the 58-year-old will soon be in a boardroom somewhere in the region, if only part-time, lending his wise thoughts on what the region needs to do next. n Jerry Blackett will be replaced by Paul Faulkner when he leaves the Chamber in July.

69

Fabulous fish in one of my favourite haunts The Hotel du Vin in Birmingham is one of my favourite places for lunch. As you walk up the steps into what was once the city’s Eye Hospital in Victorian times, you feel you’re entering somewhere full of character and history. The bistro’s immediately on your right, and however many guests there are it never feels too full: the length of the room, its second section and the height of its ceilings always provide the space you need to talk.

We claim one of the window tables, and in a spring mood for good fish we both quickly choose the same starters and main courses.

The Shetland scallops (£12.95 each) look superb: three gigantic molluscs adorn both our plates, with all their shape and orange roe intact, basking in a sauce vierge. The white muscle is firm but juicy, the coral soft like pâté, both parts rich and moreish.

Next comes sole meunière (£23 each), a lightly pan-fried lemon sole deliciously absorbing a warm caper, brown shrimp and butter sauce. We spend some time ensuring that every last morsel of juicy fish flesh is consumed, while enjoying a fine wine that Jerry – a keen oenologist – helps to choose.

This is a Grüner Veltiner ‘Loessterrassen’ Scholss Golbelsburg (£32 a bottle) from Austria’s Kamptal Valley. It’s a pale greenyellow in the glass, with a counterintuitive aroma of black pepper, rhubarb and apple, and a light, fresh-lemon taste that goes perfectly with our fish. Our only regret is not having the time to sip this wine all afternoon.

Hotel du Vin & Bistro is at Church Street, Birmingham, B3 2NR. Book on 08447 364250 or via www.hotelduvin.com

BUSINESS QUARTER | SUMMER 15

SUMMER 15

COMPANY PROFILE

Friday foodie experience set to cook up a treat for 400 guests Michelin-starred chef Glynn Purnell and Masterchef judge Gregg Wallace are joining forces to serve up a live culinary experience in front of 400 guests at Aston Villa Football Club this autumn (Friday, 2 October) Subterraneans, and a DJ set by Heart FM’s Russ Morris.

Glynn Purnell’s Friday Night Kitchen with Friends will also be sponsored by several businesses across the city, including headline sponsor Birmingham Airport.

Paul Kehoe, CEO at Birmingham Aiport, says: “We are proud to show our support to such a prestigious event, which truly showcases the city’s rising culinary reputation. Birmingham’s rich dining scene has made it an international selling point for the city, and this event will only highlight this further.”

The event, Glynn Purnell’s Friday Night Kitchen with Friends, will raise funds for Birmingham-based blood cancer charity Cure Leukaemia, of which Glynn is a Trustee.

Hosted by TV foodie Gregg Wallace, the evening will see ‘Yummy Brummie’ Glynn Purnell prepare four courses on stage. They will be joined by Jamaican-born TV personality, chef, singer and actress Rustie Lee, who is best-known for her role in the 1980s ITV prime time show Game for a Laugh, and rustling up a storm with her Caribbean treats on TV-am and This Morning. Rustie will be opening proceedings with the first course, which is certain to be bursting with her signature Jamaican flavour.

The audience will enjoy each of Glynn’s dishes prepared under Glynn’s guidance and the catering team from award-winning VMF Restaurant, who will be managed by Villa’s

BUSINESS QUARTER | SUMMER 15

Executive Chef, Peter Reed.

Glynn said: “I am very excited to be welcoming Gregg Wallace and Rustie Lee to the stage. This year, the event will be bigger and better to create a Friday night with a difference.

We hope people join us for an unforgettable evening of entertainment.”

Gregg said: “I can’t wait to join Glynn and guests in Birmingham on Friday 2 October, and I’m already looking forward to the menu.

I just hope he’s got plenty of desserts planned.”

Rustie, added: “I cannot wait to get on the stage with Glynn Purnell and Gregg Wallace to watch Glynn cook up a delicious treat for everyone! What I love about Birmingham is the variety of food and this event is a great chance for people in the city to get together and share their love of food.”

During the event, guests will be entertained until the early hours courtesy of popular live covers band and Jam House residents, The

70

Tickets are now on sale for the event, starting at £125 for standard and £150 for VIP seats.

Sponsorship packages are also available.

To find out more contact Jackie Kelly on Jackie@fridaynightkitchen.co.uk For more information, follow Glynn Purnell’s Friday Night Kitchen with Friends on Twitter: @GPFNK Cure Leukaemia was founded to support the world class Centre for Clinical Haematology at The QE Hospital Birmingham, and the work of Professor Charlie Craddock and his team to fund life-saving clinical trials across the West Midlands. For more information, visit www.cureleukaemia.co.uk

MOTORS In the spring edition George Jennings, a young associate of what has now become Billfinger GVA, test drove the impressive Bentley Continental GT V8S convertible. In this edition, a much older, mature partner (me!) drives the complete antidote to the modern car, the Morgan Plus 4. What greater contrast in drivers and cars could you imagine.

The classic design has hardly changed in the nearly 80 years they have been built by Morgan who originally started building only three wheeler cars. They are one of only a few British built and owned cars and their history goes back over 100 years.It is a shame it has taken foreign ownership to bring out the best of our traditional British cars such as the Bentley, Rolls Royce and even our local Jaguar Land Rover. I have been in the Corporate Recovery Business for nearly forty years and management skills have improved considerably over the years but it seems not fast enough in the past for some of our automotive manufacturers. Morgan, on the other hand, has managed to survive and despite some recent board room shuffles is still British owned. And notwithstanding a visit from trouble shooter Sir John Harvey Jones, who recommended automation, the cars are still mainly built by hand. In fact, after his visit which highlighted the hand building skills the waiting list for cars increased.

The Morgan for my test drive was the Morgan Plus 4, the mid-range model between the 4/4 and the Roadster which I picked up from the Morgan factory in Malvern. It has a lively Ford 2 litre engine linked to the rear wheels by a Mazda five speed gearbox – the perfect British Sports car layout. Needless to say wooden dashboard and leather seats are standard. I am pleased to say on the day of the test drive

There is no need to act like Jeremy Clarkson and switch off the electronic aids – there are none!

BUSINESS QUARTER | SUMMER 15

it was dry and the sun shone in between the clouds. You soon learn it is easier to get in and out of a Morgan with the hood down.

Although power steering is an option, the model I was driving just had the standard steering set up with no power assistance. In fact, by contrast again, to the Bentley, the Morgan has very few driver assists so it is a car that has to be driven. There is no need to act like Jeremy Clarkson and switch off the various electronic aids – there are none! You sit behind a small tactile steering wheel looking along a unique long louvered bonnet and you are ready to go. There is no better view from a car than looking along the air vents of such a long bonnet which when warm disturbs the air in front of you. Start the engine and you realise the Morgan engineers have been playing with the sound of the exhaust system. You also realise why it is pointless having a radio – you would never hear it and what better sound can there be than that of a roaring exhaust which “bubbles” on deceleration.

And don’t even think about blue tooth, this is a real get away from it all car. Starting off challenges your arm muscles as the reality of a lack of power steering kicks in. However, once in motion the steering is amazingly positive and accurate. The car goes where you point it! I need to improve my muscles anyway. Out around the Malvern Hills with the hood down and in and out of the sunshine there can be no better car. It accelerates well, corners brilliantly, even stops quickly when necessary. Is it an every day car? Not for me – I am constantly on the phone when driving between businesses. Is it for you? Not if you are a golfer there is no boot for golf clubs.

But as you may gather, I am a fan. Always have been since I stopped wanting James Bond’s Aston Martin, and in 2009 I bought an anniversary R100 which is, and always will be, my pride and joy (after the wife, of course!) n BQ would like to thank Morgan Motors.

The Morgan Plus 4 OTR price starts at £38,000. The model John drove is £42,000, both include VAT. For further information please contact James Gilbert, Morgan Motor Company Limited Tel: 01684 580151 or email: james.gilbert@morgan-motor.co.uk

72

John Kelly, partner at insolvency practitioners Begbies Traynor, forgoes modern technology in favour of pure, driving joy behind the wheel of a classic Morgan

GETTING BACK TO BEAUTIFUL BASICS

EXECUTIVE TRAVEL Overnight business trips can be a nightmare if you don’t find the right accommodation. So in the first of a new series, BQ’s editor Steve Dyson explores some special places to stay in London and the North East

The Goring, London Even a tepid shower in the morning didn’t spoil my stay at London’s last family-owned luxury hotel.

The Goring is tucked away in a quiet Belgravia side street, equidistant between Buckingham Palace and the busy Victoria station.

You feel special as soon as you walk through the front door, bags whisked away by one of several doormen, receptionists welcoming you like longlost relatives. It may sound over the top, but the passion for hospitality comes across well as staff stand seemingly everywhere, politely poised for the smallest request, and always with genuine smiles. We ordered a pot of tea and scrumptious homemade biscuits, enjoying them in comfortable armchairs overlooking The Goring’s neat garden. Bedrooms range from what are called ‘Delightful’ to ‘Most Splendid’, and there’s a variety of suites if you want your own sitting room. There’s even a private dining room in ‘The Royal Suite’, where Kate, the Duchess of Cambridge, recently stayed.

Our ‘Splendid’ bedroom was sumptuous, with its silk-lined walls, king-sized bed, marble bathroom and walk-in shower. But we dragged ourselves downstairs for dinner, the highlight being a huge slice of Beef Wellington, carved at the table from an impressive trolley.

Unfortunately, a faulty boiler meant lukewarm and then cold running water in the morning, but kettles were available and staff couldn’t have been more helpful. We forgot this inconvenience by indulging in kippers and omelette for breakfast, and saw many other guests given complimentary beverages to make up for chilly showers.

This 105-year-old establishment falls over itself to make guests feel at home, and so if you’re in London for particularly stressful business meetings this is the place to come and relax.

The Goring hotel is at Beeston Place, Belgravia, London SW1W 0JW. ‘Delightful’ room rates start from £430 per night, or it’s £1,340 for a ‘Belgravia Suite’, and £8,400 for ‘The Royal Suite’, all rates excluding breakfast. To book, call 0207 396 9000 or visit www.thegoring.com

BUSINESS QUARTER | SUMMER 15

74

EXECUTIVE TRAVEL Sunderland Marriott I was pleasantly surprised by the style of Sunderland Marriott hotel’s main building – an Art Deco design from the 1930s. And the hotel’s position on the seafront just to the north of the city made it even more attractive, with plenty of clean beaches to stretch your legs. I was lucky to get a bedroom with great sea views, prompting me to choose fish dishes for dinner in the Promenade restaurant. Sea bass in a cauliflower and almond puree, with chorizo and black-eyed beans was an imaginative and tasty starter, while there were huge chunks of white flesh on the curried monkfish that I enjoyed for main course, simmering in mussel and saffron broth. What I really liked about my bedroom was the air conditioning – either because it was completely hidden or, perhaps, because one wasn’t fitted in the original wing of the hotel I stayed in. Either way, the atmosphere was so much better than the noisy, dry air that many hotels have, and after a long walk along the front after dinner, I slept like a log. An extra bonus is the four-star Marriott’s free and secure car park tucked away behind the main building.

Sunderland Marriott, Queen’s Avenue, Sunderland, Tyne & Wear SR6 8DB. Room rates start at £109, including breakfast. To book, call 0191 529 2041 or visit www.marriott.co.uk

Lumley Castle, County Durham

Crowne Plaza London – the City Hotel

I struggled to wipe the smile from my face when I was shown into my ‘State Room’ at Lumley Castle, complete with four-poster bed, high ceilings, enormous windows and huge stone fire place. Despite its name, I hadn’t realised that the hotel really is an original castle, a 14th century structure on a hill overlooking the River Wear. Any aches were quickly soaked away in the large iron bath sitting on a pedestal next to my bed, before I explored hundreds of yards of the hotel’s corridors, packed with historical paintings and artefacts. Dinner was in the elegant Black Knight restaurant, with subtle lighting, lavish furnishings and Elizabethan-dressed waiting staff. I enjoyed pan-fried king prawns with a tangy tomato and mozzarella gnocchi for starters, Lumley beef fillet for main course – stuffed with blue cheese and wrapped in Parma ham. I slept like a real prince in my state room, waking up to tremendous views across the gardens. I left then Lumley with a spring in my step after one of the best cooked breakfasts I’ve had this year.

Lumley Castle hotel, Chester-le-Street, County Durham DH3 4NX. Room rates start at £104, including breakfast. To book, call 0191 389 1111, email: info@lumleycastle.com or visit www.lumleycastle.com

It was a wintery evening when I arrived at the Crowne Plaza, and queues of guests were checking in ahead of me. And so we were nicely surprised by a congenial concierge who offered us all hot chocolate or a drink of our choice to warm our cockles while we waited. Little touches like these left lasting impressions on hotel guests, another being the token we all received for a complimentary glass of prosecco in the bar that evening. I stayed in a spacious ‘Club’ room, with a queen-sized bed, large work desk, leather desk chair and free internet access, as well as ‘Club Lounge’ access for complimentary canapés and drinks. The hotel has two restaurants: the Sichuan-style Chinese Cricket Club, and the Italian-style Diciannove. I tried the latter, tucking into pan-fried scallops in broccoli puree, topped with toasted almonds to start, and then Costata di Manzo – aged rib-eye steak – for main course. I loved the Crowne Plaza’s location near the Thames and Blackfriars tube station, with The Blackfriar – one of London’s best pubs – just over the road.

Crowne Plaza London, 19 New Bridge Street, London, EC4V 6DB. Room rates start from £253 for a double room, including breakfast.

To book, call 0871 942 9094 or visit www.cplondoncityhotel.co.uk

75

BUSINESS QUARTER | SUMMER 15

FASHION FASHION When Harrison Ford entered John Varvatos’ New York store back in the early 2000s – its fledgling days – the designer had kind of hoped the movie star would buy some clothes, rather than one of the shop fittings. “But the sofa is what he fell in love with, and he asked us to make him one,” says Varvatos. “It was a fun project and it was exciting so early on to have someone like him in.” And Ford did end up buying some clothes too.

The likes of Springsteen and Cruise followed suit. And now, the ongoing appeal of the clothes has led analysts to tip the company as the next $0.5bn giant – the most likely to become the next monolith the likes of Calvin Klein or Ralph Lauren.

Varvatos makes man clothes: rugged, dark, sometimes idiosyncratic but not clever-clever, ultimately wearable, properly sized, not made for skinny boys. “I always wanted to be a designer for the guys,” says Varvatos, who the year after he launched picked up the CDFA fashion Oscar for New Menswear Designer in 2000, and then, the following year, picked up the Menswear Designer of the Year (and yet again in 2005). “Guys look at what they see on the runway and, often, don’t get it. It’s not real. That was a gap in the market when I was starting out. There was a need to give men clothes that would still have meaning to their wardrobe 10 years later. Even guys with money look at clothing and say ‘but do I need it?’”

Thankfully for Varvatos – whose business has grown exponentially, recently opening its first European flagship store in London – the answer is most often ‘yes’, with the clothes seeming to chime with a relatively newly fashion-aware man. “Even my doctor reads fashion magazines now and he’s not a stylish man,” says Varvatos, who trained in science education and taught chemistry for a while.

His designs are often described as having something of a rock ‘n’ roll aesthetic, “which is a sprinkle of magic, although I’m not really sure what ‘rock ‘n’ roll clothes‘ are,” he says.

Rock is hard to escape with Varvatos though – there’s the annual, road-closing gig outside his Melrose Avenue store that’s attracted performers like ZZ Top and Aerosmith, and the fact that he is a self-confessed “music

BUSINESS QUARTER | SUMMER 15

CLOTHING THAT IS STRIKING A CHORD Music mad John Varvatos’ celebrity-endorsed designs appeal to ‘rugged’ men seeking a touch of rock ’n’ roll chic that will last, discovers Josh Sims junky” with his Bowery boutique in the former premises of the legendary CBGB club. He has even just launched his own record label in conjunction with Republic, its first signing being the Zac Brown Band.

“And it’s not a vanity label,” Varvatos stresses, “not some contrived way of promoting the fashion. The fact is that the record industry faces a challenge in that artists don’t trust the big labels any more because they’re selling all the time, and only really interested in the next single, rather than giving an artist the time and space to grow, as used to happen. That’s

76

what we want to give them.”

This could be an echo of the way Varvatos’ own company has grown: small at first, with a line backed to the hilt by global lifestyle brand Nautica – so impressed was the company, for which Varvatos had created a jeans line, that it more or less goaded him into doing his own thing. That now encompasses an international spread of stores, with a sideline full collection for Converse and the launch of home wares now under consideration.

But perhaps the fact that Varvatos strikes a marketably distinctive but approachable

FASHION

look is no surprise given his teachers. Those aforementioned monoliths? He helped make them – first at Calvin Klein, where he launched menswear, and then at Ralph Lauren’s Polo label, where he was head of design. “Calvin is the master of marketing, of capturing the moment with just that little bit of shock value, and working for Ralph was like being at the University of Lifestyle,” says Varvatos.

Varvatos talks with affectionate humour of how his previous boss’ approach is not his own. “Ralph is actually super classic, and the clothes become a reflection of a moment in time – one season it’s equestrianism in the

1930s, then Capri in the 1950s or ‘Chariots of Fire’, which can feel a bit costumey at times,” he says. “We try to never get locked into a period or place. We want customers to have the ability to walk into the shop the following season and not say to themselves ‘what happened? Why all the changes?’”

That Varvatos is keeping the company on such an even keel is, he suggests, a product not only of his training with Klein et al, but the fact that he is not a designer per se, (much like Ralph Lauren, in fact). “And if we only understood the creative process and not the business side, we’d have had big problems,”

77

he admits. “Frankly talent isn’t enough, nor is being a one trick pony. You can see all these new brands come up, and then all these new brands disappearing – because they’re not grounded in business.

“I want to grow and I’m always thinking about what we can do next, but I don’t want to get bigger just for finance’s sake,” Varvatos adds. “I’m always being asked when we’ll do womenswear but, you know, it’s a war out there. My bigger concern is to build a long-lasting company, to leave a legacy in menswear. And, no, I don’t miss teaching chemistry.” n

BUSINESS QUARTER | SUMMER 15

HIGH LIFE The ambassador for one of the world’s most iconic champagnes enjoys a glass, or two, with Josh Sims Michel Janneau sips from another glass of Cristal. Well, it is his job. “I remember drinking my first glass of it, when I swore that I would never drink any other kind of champagne than Cristal from that time on. And at the time I was a student in Paris with a very limited budget,” he says. Another sip. “If you ever come across a bottle of 98 Cristal, you have to buy it immediately. It’s the most elegant champagne you can find.”

Of course, as the ambassador for the Louis Roederer champagne house – owners of the Cristal brand – Janneau might well say this.

But, reclined in the company’s palatial mansion in Reims – an old family property for one of the last remaining champagne houses still familyowned – he is very convincing. Louis Roederer, after all, has been making champagne for 237 years over five generations, its chief asset being 526 acres of vineyards, which supply

R A E L C L A T S I R C S P E E K VISION N TOP O D N A BR BUSINESS QUARTER | SUMMER 15

78

HIGH LIFE

two-thirds of the company’s requirements.

Crucially, this precious terroir is owned by the company. As its competitors typically sold off their lands during the 1980s to third party grape suppliers, Louis Roederer just bought more. That has allowed for an atypical quantity and variety in its 800,000 litres of maturing reserve wines.

“But being family-owned is not a benefit,” says this straight-talking master of bonhomie.

A pause for another sip. “It’s a crusade against the giants that dominate the market. Every minute is a fight, but it’s worthwhile because we don’t spend a penny on focus groups but on making the wines we like. We can decide not to make Cristal one year if the grapes don’t deserve it. Our finance director may look at us as if we’re crazy, but you can all the same. You sell what you produce.”

And that is often something special – the likes of its golden Brut Premier, a blend of four vintages distinctive for having been expensively aged in oak barrels for up to five years, as opposed to the 18 months more typical of the industry at large. “That maturity is a luxury because we could sell a lot of non-vintage wines without the aging – but it’s that that gives us our conception of champagne,” says Janneau. “People talk a lot of nonsense about vinification and fermentation. It’s best not to interfere with the natural processes too much.

All champagne needs is a good, deep nap.”

Cristal has this public image as the iconic wine for the very rich.

And it’s indecently expensive Top of the tree is Cristal – another sip – with its complex spectrum of flavours, and complicated public image. Janneau concedes that it is a double-edged sword. On the one hand is this incredible story: Tsar Nicolas II bothered by his champagne looking like anyone else’s, and so commissioning a special bottle for a wine he subsequently buys all for himself, and which mere commoners today can only buy should it even be produced. But on the other is “Paris Hilton swigging from a bottle,” as Janneau puts it.

“It’s really two guys – the one loved by sommeliers and the one who likes the nightlife, the one who uses it to shower his girlfriend,” he adds. “Cristal has this public image as the iconic wine for the very rich.

And it’s indecently expensive – well, it is.

But it’s also much more than that, even if its reputation probably over-powers all the other

79

champagnes we make.”

Indeed, Janneau recalls overhearing his mother-in-law to be’s disappointment when his wife-to-be told her that he worked for Louis Roederer: “’Oh darling, I thought he was working for Cristal’, she said.” Besides, Janneau feels that champagne in general is increasingly living something of a double life. He agrees that, as a piece of marketing, the association between champagne and occasions of celebration is “an immense success”, accounting for many of the 340m bottles sold every year. “The only problem,” he adds, with another sip, “is that in my opinion 95 percent of people who drink it at a wedding or the opening of an exhibition just think of it as a very good lemonade from France. It’s a social drink and drunk without any curiosity.”

Champagne, he finds, is all too often drunk by people who don’t even realise that it is a wine. “There’s a global ignorance about it,” he notes. But that still leaves room for those who, like Janneau, relish every sip.

The Janneau Ethos: there is too much business in champagne production and not enough pleasure. “Wine is ultimately about friendship. Making wine is not about the survival of humanity,” he says.

“But if you’re going to make it, you may as well do it well, and do it with joie de vivre.” n

BUSINESS QUARTER | SUMMER 15

SUCCESS STORY

SUMMER 15

THE ARCHITECT OF HIS OWN SUCCESS Glenn Howells, Birmingham’s best-known architect, chats about childhood and career choices, his love of music, and much more.

Ian Halstead reports Some 450 years after his death, St Francis Xavier is still known for his astute observation about an infant’s formative years: “Give me a child until he is seven, and I will give you the man.”

Glenn Howells may not have been raised in the Xavier’s Jesuit faith, but his childhood was surely the catalyst for his choice of career.

For more than a decade, almost from the time he learned to toddle, Glenn was immersed in an environment of construction and regeneration of a very domestic nature.

Now of course, he’s one of Britain’s leading architects, and Glenn Howells Architects (GHA) has established a 20-year track record of success from offices in Birmingham and London.

Its portfolio ranges from a stone-built arts complex in Armagh to a spectacular

BUSINESS QUARTER | SUMMER 15

reinvention of a 1970s office block in Manchester – which the British Council for Offices recently rated the best regional commercial workplace – and from a visitor centre in Great Windsor Park to a new concept in ‘green’ motorway service stations.

As Birmingham’s new centre arises from the concrete rubble of the old, GHA has masterplanned the pivotal Paradise scheme, the new Life Sciences Campus, and created a development vision for the sprawling Eastside area, including its links with HS2 and the new Curzon Street Station.

GHA is heading many other major regeneration projects in London and elsewhere, which in Q1 2015 saw the practice move up to second place in Building Magazine’s ‘Business Barometer’, based on contract wins throughout the UK. It certainly

80

seems Xavier was right …

“My dad was a builder, and paid £460 for an absolute ruin of a house in Wordsley [near Stourbridge],” recalls Glen, now aged 53.

“It needed everything doing from the roof down, was surrounded by fields and had huge gardens, so it was a great place to grow up.

“I was surrounded by building materials right from the start, and soon understood how people assembled things. I was an only child, and mum worked in the office at a glassworks, so during the long summer holidays, I’d tag along with dad who was usually working on construction sites.

“He’d served seven years as an apprentice before qualifying as a carpenter, as long as it took me to become an architect, so I learned everything about how a craftsman worked, and how structures were put together.” >>

SUMMER 15

81

SUCCESS STORY

BUSINESS QUARTER | SUMMER 15

SUCCESS STORY

Glenn’s dad still lives in the house he created, and although his mother passed away this year, she was at least able to spend her final weeks at their home.

There are unexpected downsides to spending decades in one property though, as Glenn discovered when tidying up a pile of papers there. “I found all my old grammar school reports, and showed them to my daughter, but she wasn’t impressed by some of the comments I’d received,” he admits.

By his mid-teens, Glenn hadn’t decided on a career, and his spare time was taken up playing lead guitar in pubs and clubs with a bunch of mates; from country and western and rockabilly to more contemporary sounds.

“I was fascinated by music, and there was a lot happening on the Black Country scene,

BUSINESS QUARTER | SUMMER 15

SUMMER 15

and you’d often see Robert Plant driving past in his gold Rolls-Royce,” says Glenn.

He dreamed, as did so many, of buying a new Marshall speaker, and whilst flicking through the New Musical Express to see what price his dreams might have, chanced upon an advert which was to change his life.

Plymouth Polytechnic was promoting its architectural degree course, it really appealed – and Glenn was soon settling down in Devon, combining his instinctive love of design and craft skills with his passion for music.

“I fell in with other students who liked playing, and still keep in touch with them,” he says. “We set up a six-piece band called the Sharks, doing mainly blues and soul. Plymouth had an exchange arrangement with Mississippi and our singer came from there … great voice

82

and real charisma on stage.” It takes some doing to keep in touch with ex-college mates for three decades, especially in those distant pre-internet days, and friendship is a recurring theme as Glenn mulls over his life.

Two chums from his early days, working for an architect called Robin Spence, run GHA’s London office and another college friend, who moved into the restaurant industry, gave him a much appreciated wodge of work as his fledgling practice was getting underway.

GHA even takes the friendship mindset forward and enshrines Glenn’s approach into its day-to-day business model.

“Look through our projects, and you will see the same names reappearing as clients,” says its web-site. “We like to build long-lasting and trusting relationships … and we trust in our

SUMMER 15

collaborators too, so we can work efficiently alongside other consultants.”

Of course, it’s not unknown for similar comments to appear in the business community, but it’s evident that these come right from the heart – not from a vault of ‘on-message’ corporate clichés.

Back in the early 1980s though, Glenn was a long way from understanding how his studies might become the grounding for a career, although his own architectural vision was evolving.

“I thought then that design had lost its way.

My instincts were modernistic, and I looked to architects of the 60s and 70s, such as Pier Luigi Nervi and Oscar Niemeyer. They were my heroes, because they designed structural buildings which had integrity and were also very expressive.

“However, there was also a powerful movement in the 80s which put function before form, and insisted that what had gone before should be forgotten. College toughened me up in that respect, because I realised you needed to have self-belief, and that you could put forward ideas, even if they were against the trend.”

Glenn earned a travelling scholarship, and chose to spend a year in Holland with another of his heroes, Herman Herzberger – but unfortunately his timing was a little off.

“It was 1982, the country was deep in recession, and as I was carrying my portfolio into his offices, staff were passing me on the stairs, taking their work out,” he says. ”I enjoyed my time in Holland, and still remember going to a museum near Arnhem, and being impressed by its design. It was understated, but exquisite, and the way the architect had used natural light was just wonderful.”

Back in the UK, Glenn worked for a small practice in a Cornish fishing village, but was then advised by his boss to head for London and join a big-name architectural brand.

He got that half right – teaming up with a firm run by Robin Spence, the nephew of Sir Basil Spence, a high-profile architect who had designed Coventry’s new cathedral.

SUCCESS STORY

I’m fascinated by what we can all do to make Birmingham what it once was...an international city Robin himself had won a commission to redesign the Houses of Parliament in the early 1970s, but it was later cancelled, and by the mid-80s, he was working in Hampstead, employing half-a-dozen architects.

“He’d got an unusual business model, in that he would enter any design competition that was going, and then use the money from a few live jobs to fund the next batch of applications,” recalls Glenn.

“He’d won quite a few, and I really started to understand how to enter those competitions, and what it could do for a practice if you won. Robin let us put forward ideas for one in Birmingham, for what later became The Cube site, and we came second out of 150-odd entries, which was a great achievement.

“When the 90s recession hit, Robin simply ran out of work and had to close his business. Two years later though, out of the blue, he tracked me down and paid what he owed me, which was very generous.”

By then, Glenn had established GHA through a London office; and after turning his attention to achieving success in design competitions, he began to build the business into the sizeable practice it is today.

He later set up its head office in Birmingham, which moved to its current location – a multistorey building in Digbeth’s Bradford Street – in 2000.

The head office now takes up 8,000 sq ft on the top floor, with the model-making team on the first floor, a decent sprinkling of tenants in other areas, and the ground-floor left vacant for exhibitions, events and meetings.

“We own the building, which is a great

83

laboratory for what we do and provides a very flexible environment,” says Glenn. “We’ve no landlord to worry about, and with 110 people employed between here and London, we do need a fair amount of space.

“It’s important to work from both London and Birmingham, because many of our clients are based down there, but for the quality of life, we live up here in Edgbaston.”

Imagining how the future Birmingham might look is a subject which particularly arouses Glenn’s passion.

He says: “I’m fascinated by what we can all do to make Birmingham what it once was, a fantastic international city. Creating the right linkages will be critical. The Big City Plan was a great starting point, but people need to stop thinking just about ‘iconic buildings’ and more about making the city into an integrated piece.

“I have no problem with tall buildings, but they can’t transform a city by themselves. You need public spaces, and ‘fine grain’ stuff too.

You always have to think of context, and how buildings sit alongside other buildings.

“I’m very keen that Birmingham doesn’t have one big idea, then throw it away for another, which has happened. Paradise is all about connectivity, and I like the way that scheme, and the Life Sciences Campus, are being created by public-private partnerships, including the LEP. ”Birmingham has always been defined by water, road or rail, and as we look forward to HS2, we need to be as brave and as inventive as our 19th century ancestors were when they tackled infrastructure challenges.”

Amid such enthusiasm, and eyeing up a massive wall of trophies and accolades, it seems churlish to ask if there was ever a scheme which ‘got away’, but there was.

“Innsbruck Ski Jump,” says Glenn, with the nearest he ever comes to a sigh. “We entered a design competition in 1990, and I sold my car to pay everyone for the work.

“They wanted to provide facilities for 50,000 people. We got to the last ten, but they gave the contract to a local firm, which put forward ideas for 10,000 people, and said the others could use plastic macs ...” n

BUSINESS QUARTER | SUMMER 15

BUSINESS QUARTER | SUMMER 15

84

SUMMER 15

ENTREPRENEUR

BROTHERS ARE CHIPS OFF THE OLD BLOCK A man called Henry Venables started out as a timber merchant in Shropshire back in the 1860s. Today Chuck and Paul Venables – his great, great grandsons – are plying the same trade. Kate Copestake reports The offspring of noted business dynasties have always had to prove themselves to friends, relations and bystanders who scrutinise how they hack the family trade.

If it’s your great, great grandfather whose name is synonymous with oak and the supply of bespoke joinery, cabinet-making and all things wood, the pressure to prove your mettle is even greater, and on it goes…

But when you’ve not only absorbed the family business by osmosis since you sat playing with the fine-turned beech moulding of your high chair, and when your father absolutely insisted that you not only learned a skill but became

Family Law

renowned experts before getting your fingers on the family jewels, then you’ve earned your spurs.

Brothers Chuck and Paul Venables have both spent their whole lives living and working with wood, from selecting from forests growing the raw material to the production of the finished, hand-crafted product. Consequently, they’re renowned and respected experts in bespoke joinery and the sourcing and supplying of European hardwoods, and oak in particular.

Venables Brothers Limited, trading as Venables Oak, are both timber merchants and joiners, based in Cheswardine near Market Drayton,

Shropshire. The name forms an unbroken link with the brothers’ great, great grandfather and timber merchant Henry Venables and dates back over 150 years.

Family archives show photographs of the Venables Halt on the railway line near Stafford, where timber was loaded and unloaded onto freight trains for collection and despatch. That same Venables sign from the now-defunct signal box today sits over the entrance of the company’s oak framed (and self-built) offices and sawmill in the depths of the countryside at Chipnall.

The company in its present form was founded

by Chuck, 54, and Paul, 59, in 1999. And therein lies a tale of a switchback ride of graft, growth, accreditation, fame, redundancy, conflagration, bank foreclosures, divorce and the memories of being left standing with just your car keys in your hand and your family business in pieces.

Some people simply dissolve; others keep going. Our brothers took up hammer, chisel, skill and talent and went out as a jobbing chippie (Chuck) on building sites and to work in timber yards (Paul), because it’s your responsibility and that’s what you do. It was earlier that year when the brothers saw Henry Venables Ltd removed from their ownership.

“We were just about to sell the historic timber yard in Stafford for around £4m,” remembers Chuck. “We had a full order book, a viable company, a history and a future. As we had a £4m borrowing facility, our bank thought it the perfect time to retrieve their money, and that was that. We walked away the same day, turning our backs on what had been the family business.”

But Chuck’s motto is “fortune favours the >>

To talk to a specialist advisor today simply call on 0845 604 4911 or visit www.irwinmitchell.com/family

PLS-FL137-BQ Magazine-18mm x 175mm.indd 1

85

09/02/2015 16:49

BUSINESS QUARTER | SUMMER 15

ENTREPRENEUR

brave”, a statement brilliantly illustrated when, almost broke and without a guaranteed income, he decided to buy a redundant and derelict single storey chemical laboratory just up the road for less than a song. It had no planning permission but plenty of noxious tanks, pipes and dials to get rid of, and is now a stunning family home.

Chuck and Paul started again a month later, buying the derelict Chipnall village sawmill.

“It’s like it was waiting for us”, says Chuck.

And the orders came in. The brothers finally bought back the Henry Venables Ltd name in 2013 and the company now trades as Venables Oak, employing 25 timber workers, joiners and office staff at Chipnall. The company is now the UK market leader in the provision of oak beams for construction and has a turnover of £9m.

“Our work has taken us far afield, including the Caribbean, and given us the opportunity to work on both private new-build and public listed restoration projects,” says Chuck.

“That’s included York Minster, following the devastating fire of 1984, St George’s Chapel, Windsor Castle following that fire in

Family Law

SUMMER 15

Our work has taken us far afield, including the Caribbean, and given us the opportunity to work on both private new-build and public listed restoration projects...that’s included York Minister following the devastating fire of 1984 1992, and the supply of the timber work for Shakespeare’s Globe Theatre.

“We provide oak beams and frames to heritage restoration projects across the UK, and also supply cabinetry and joinery, but the skill and craftsmanship of our joiners is the same whatever the job, so our domestic customers get the same level of quality in their own homes as the work demonstrated in our more famous restoration projects.”

Brother Paul is the expert in timber, Chuck says, with a mix of brotherly adulation and professional respect: “Paul can look at a living

oak and not only assess its grade quality, but also identify how many cuts he can get out of it and what it will be used for.”

Chuck himself advised the Building Research Establishment (BRE) on the development of the British Standard for the grading of oak beams (now BREEAM) and was the first grader in the UK to be certified to Grade BS5756. The majority of Venables’ oak is French grown and is sourced and purchased in France.

“I remember the first time I went to France to source timber”, says Chuck. “We had used all of our prime grade oak on the restoration

To talk to a specialist advisor today simply call on 0845 604 4911 or visit www.irwinmitchell.com/family

PLS-FL137-BQ Magazine-18mm x 175mm.indd 1

BUSINESS QUARTER | SUMMER 15

86

09/02/2015 16:49

SUMMER 15

of the roof of York Minster following the fire. I drove the length and breadth of France looking for a sawmill that could supply the quality of oak I was looking for, only to find that our Grandfather had been dealing with the owner for fifty years previously. There’s an invisible unbroken thread that runs down through some families.”

Paul chips in: “We carry the largest stocks of oak beams in the UK and are the number one supplier of European oak to the trade.

We supply the very buoyant oak frame market which produces oak framed buildings such as garden rooms and studios, garages, conservatories and orangeries.

“Our construction clients come to us for air and kiln-dried oak, in addition to green oak, for use in their timber framed buildings. PEFC [Programme for the Endorsement of Forest Certification] and FSC [Forest Stewardship Council] timbers can be supplied, and we can saw anything to size – this can help with transportation issues. We have longstanding relationships with sawmills so can source exactly the type and grade of wood that is required for each project, whether it’s oak,

Family Law

ENTREPRENEUR

elm, beech, sycamore, ash or cedar.”

Venables Oak supply the whole solid wood package, from windows, doors, floors and staircases, onto fitted or unfitted kitchens, garden rooms, conservatories and libraries, for new builds, renovations or restoration projects.

“We don’t simply work with the inside of a home, we encourage our customers to consider their gardens and driveways,”says Chuck. “We design and make solid wood gates, fences and garden furniture and structures such as pavilions, gazebos and pergolas. As well as our domestic customers we also work on interior and exterior projects with hotel and restaurant owners, and we’re as proud of our work there as we are of our more famous restoration projects.”

The company has recently invested in both solar roof panels and a locally built biomass boiler, which converts all wood waste from the sawmill into a free heat source for the entire plant. The brothers have also recently begun to dip a toe into the hungry beast that is social media.

“Customers can already buy timber packs, doors and flooring online, and new publishing

media such as Twitter and Facebook give us the opportunity to share news of our latest projects and ranges,” says Chuck.

“Our Pinterest site offers us an online showcase to reach out to a much wider and also possibly younger audience, for example, new homeowners who are looking for real craftsmanship and individuality that can be applied to their personal specifications and designs.

“It’s helped us remove the ‘exclusivity’ and stuffiness that can be associated with bespoke joinery. If we can persuade the flatpack generation that joinery is an investment, lasts longer and looks better, then we’ll be taking the Venables name into the next century.”

Chuck’s son Tom, a trained mechanic, has now started to learn the family business. “The Venables name is part of a long tradition of English bespoke joiners and furniture makers,” says Chuck. “Paul and I want to ensure that this continues, but more importantly, that quality, individuality and craftsmanship is available to everyone, in their homes and businesses, and can be passed on. I only hope that Henry approves.” n

To talk to a specialist advisor today simply call on 0845 604 4911 or visit www.irwinmitchell.com/family

PLS-FL137-BQ Magazine-18mm x 175mm.indd 1

87

09/02/2015 16:49

BUSINESS QUARTER | SUMMER 15

BIT OF A CHAT

SUMMER 15

>> Sleep with the stars

with Bill Borde

Do you fancy rolling around the mattress on which Kylie Minogue, Katy Perry, Sharon and Ozzy Osbourne, and the Beckhams have slept? Those celebrity sheets can be yours for the night if you’ve got anything between £295 and £500 to spare – depending on when you choose. The 2.4 metre square bed lies in the Penfold’s Grange suite at Birmingham’s Hotel du Vin, along with a 62” flat screen TV, an 8-seater U-shaped sofa, double shower, two iron roll top baths and a gym.

Despite the hefty price tag, Penfold’s Grange is the hotel’s most popular bedroom. It’s named after the top Australian red wine – a bottle of which would cost you another £550!

Coventry firm’s mask helps Holby City’s Dr Harry Trussle

>> Free TV fame >> The thrill of the chase A new series of VIP breakfasts has been launched to tempt successful entrepreneurs into owning a share of a race horse.

Acclaimed trainer David Dennis, who runs the Tyre Hill Racing Stables, in Hanley Swan, near Malvern, Worcestershire, has had more than 20 winners this season – double his 2014 tally.

Now he’s looking for new owners – or part-owners: “The thrill of race horse ownership is ideal for networking, and we’ve seen that racing syndicates have increased business leads and strengthened relationships with existing clients.”

To get an invite to one of the breakfasts, email charlotte@daviddennistrainer.co.uk

BUSINESS QUARTER | SUMMER 15

It cost a Coventry company nothing to grab the attention of four million TV viewers. The unusual form of marketing came as fans of BBC1’s medical drama Holby City watched Dr Harry Trussler’s recovery from severe facial injuries.

After surgery, cooling masks provided by Hilotherapy UK, based at the University of Warwick Science Park’s Venture Centre, were used to keep his face cool, reducing swelling, pain and speeding up his recovery. Katharine Stein, of Hilotherapy, said: “We were delighted to be contacted by Holby City’s producers after consultants told them they’d used it effectively with patients. It was great to get such prominence.” Hilotherapy is the UK distributor for a German company, whose technology streams cool water to injured parts of the body.

88

Brandasia’s Jaimon George with Metro executive chef Michael Smith and general manager Karen Parris

>> Metro’s new owners A busy bar and restaurant in the middle of Birmingham’s business quarter has new owners. Metro Bar and Grill in Cornwall Street, open since 1997, has been sold to Brandasia Group for an undisclosed sum by Chris Kelly and Alastair Tyson, who continue to own and run the venue of the same name in Solihull.

Brandasia also operates Asha’s, the award-winning Indian restaurant in the city centre, and has outlets in Dubai, Kuwait, Qatar, Bahran and Abu Dhabi. Jaimon George, director of Brandasia, said there were “no radical plans” to change Metro and that its 15 staff would be retained.

>> And finally…

Against all the odds, Jon Griffin, the Birmingham Mail’s celebrated and awardwinning business editor, has kept his job after being threatened with redundancy.

I understand a furious mini-row blew up at Easter when Jon, approaching 60, was told he was for the chop, with colleagues and top business leaders berating publisher Trinity Mirror that it was making a huge mistake.

Against all the odds, Jon Griffin, the Birmingham Mail’s celebrated and awardwinning business editor, has kept his job after being threatened with redundancy. I understand a furious mini-row blew up at Easter when Jon, approaching 60, was told he was for the chop, with colleagues and top business leaders berating publisher Trinity Mirror that it was making a huge mistake.

The redundancy notice was quickly withdrawn, and on 15 May Griffin won Business and Finance Journalist of the Year at the UK’s Regional Press Awards.’

help you to stay successful. help you to stay successful.

Sleep Deep Eat Well

Sleep Deep

At Hilton Garden Inn™, you’re sure to enjoy a good night’s sleep in fresh, At Hilton Garden Inn™, you’re sure Start the day right Hilton Garden Inn™, surewith our breakfast, the day right with ouryou’re breakfast, white, cosy duvets and crisp linens. to enjoy a good night’s sleep in fresh, featuring joy a good night’s sleepfruit, in waffles, fresh, fresh fruit, It’s just one of the many ways we eaturing waffles, fresh white, cosy duvets and crisp linens. bread products e, cosy duvets and crisp linens. and coffee. bread products and coffee. help you to stay successful.

It’s just one of the many ways we We also offer one of the many ways wea restaurant/bar ejust also offer a restaurant/bar help you to stay successful. with evening room service. help evening you to stay successful. with room service.

Sleep Deep Eat Well

Sleep Deep

Eat Well Sleep Deep Start the day right with our breakfast,

AtEat Hilton GardenWork Inn™,Smart you’re sure Well Work Smart to enjoy a good night’s sleep in fresh, At Hilton featuring waffles, fresh fruit,sure Garden Inn™, you’re t the day rightconnected with our breakfast, ou’re always with connected with You’re always white, cosy duvets and crisp linens. to enjoy bread products and coffee. a good night’s sleep in fresh, eaturing waffles, fresh fruit, mplimentary in-room Wi-Fi andin-room Wi-Fi and complimentary It’s just one of the many ways we We also offer a restaurant/bar white, cosy duvets and crisp linens. bread and coffee. ur 24/7products business centre with our 24/7 business centre with help you to stay successful. with evening room service.

It’s just one of the many ways we We also offer a restaurant/bar plimentary Wi-Fi, remote printing complimentary Wi-Fi, remote printing endsure help you to stay successful. ergonomic desk chairs. with evening room andservice. ergonomic desk chairs.

Sleep Deep n fresh, linens.

At Hilton Garden Inn™, you’re sure Eat Well ys we Work Smart to enjoy a good night’s sleep in fresh, Sleep Deep Eat Well Work Smart ul. Start the day right with our breakfast, You’re always connected with Stay Fit Stay Fitfruit, white, cosy duvets and featuring waffles, fresh At Hilton Garden Inn™, you’re sure

crisp linens.

It’s just one of the many ways we help you to stay successful.

complimentary and Start the day rightin-room with ourWi-Fi breakfast, ou’re always connected with njoy a workout when you’re anight’s workout when you’re our bread products and coffee. to enjoy aEnjoy good sleep in fresh, 24/7 business centrefruit, with featuring waffles, fresh mplimentary in-room Wi-Fi and the road in our fitness centre on the road in our fitness centre We also offer awith restaurant/bar white, cosy duvets and crisp linens. complimentary Wi-Fi,and remote printing bread products coffee. ur 24/7 business centre featuring cardio featuring cardio with evening room service.

It’s just one of the many ways we and ergonomic desk chairs.

We also offer a restaurant/bar plimentary Wi-Fi, remote printing d weight training equipment. weight equipment. with evening room service. and ergonomic desk helpand you tochairs. staytraining successful.

akfast, Work Smart Stay Fit Eat Well Work Smart uit, Treat Yourself Stay Fit You’re always connected with Treat Yourself Enjoy a workout when you’re complimentary in-room and the right with ourWi-Fi breakfast, You’re always connected with ee. can always findday a salty, sweet njoy aStart workout when you’re on the road in our fitness centre Eat You can always findWell afruit, salty, sweet 24/7 business centre with featuring waffles, fresh or healthy treat infitness our 24/7 complimentary in-room Wi-Fi and the roadour in our centre /bar featuring cardio or healthy treat in our 24/7 on Pantry™ convenience complimentary Wi-Fi,mart, remote printing bread products and coffee. our 24/7 business centre with featuring cardio and weight training equipment. ce. adjacent to the front desk.

Pavilion Pantry™ convenience mart, and ergonomic desk chairs.

We also offer a restaurant/bar complimentary Wi-Fi, remote printing Start the day right with our breakfast, d weight training equipment. adjacent to the front desk. with evening room service.

and ergonomic desk chairs.

featuring waffles, fresh fruit, bread products and coffee.

We also offer a restaurant/bar Stay Fit Treat Yourself Treat Yourself Work Smart with evening room service.

Stay Fit Enjoy a workout when you’re You can always find a salty, sweet

Eat Well Start the day right with our breakfast, featuring waffles, fresh fruit, bread products and coffee.

We also offer a restaurant/bar with evening room service.

Work Smart You’re always connected with complimentary in-room Wi-Fi and our 24/7 business centre with complimentary Wi-Fi, remote printing and ergonomic desk chairs.

Stay Fit Enjoy a workout when you’re on the road in our fitness centre featuring cardio and weight training equipment.

Contact Treat Yourself 1 Brunswick Square, Brindleyplace

can always findalways a salty,connected sweet You’re with Birmingham, B1a2HW on the road in our fitness centre or healthy treat when in our you’re 24/7 Enjoy a workout You can always find salty, sweet or healthy treat in our 24/7 complimentary in-room Wi-Fi and with featuring cardio Tel +44 (0)121 643 1003 Pavilion Pantry™ convenience mart, on the road in our fitness centre or healthy treat in our 24/7 on Pantry™ convenience our 24/7 businessmart, centre with Fi and and weight training equipment. adjacent to the front desk. featuring cardio Pavilion Pantry™ convenience mart, www.birminghambrindleyplace.hgi.com adjacent to the front desk.

Hilton Garden Inn Birming complimentary Wi-Fi, remote printing and weight training equipment. adjacent to the front desk. with and ergonomic desk chairs.

Brindleyplace

printing

...........................................................................................................

1 Brunswick Square

EVENTS

SUMMER 15

BQ’s business events diary gives you lots of time to forward plan.

If you wish to add your event send it to steve.dysonmedia@gmail.com, with ‘BQ events page’ as the email subject heading.

MAY 28 GBCC Future Faces May Social, 5.30-8.30pm, Gas Street Social, 166-168 Wharfside Street, Mailbox, Birmingham, B1 1RL. Free members, £15 non-members.

0121 607 1836, k.evans@birmingham-chamber.com 29 GBCC Burton and South Derbyshire College Connect Business Breakfast, 7-9am, The Hilton at St. George’s Park, Burton on Trent, DE13 9PD. Free. 01283 494508, sarah.mcquitty@bsdc.ac.uk

JUNE 2 IoD West Midlands: The Hereford Magna Carta, 5-7pm, Hereford Cathedral, 5 College Cloisters, Hereford, HR1 2NG. £25. Sue Hurrell 0121 643 1868, sue.hurrell@iod.com 3 IoD West Midlands: Director of the Year Awards 2015, 7.30-10am, Edgbaston Stadium, Edgbaston Road, Birmingham, West Midlands B5 7QU. £35 members, £42 non-members. Sue Hurrell 0121 643 1868, sue.hurrell@iod.com 9 GBCC Technology for the Technophobic Entrepreneur, Time TBC, Chase Chamber of Commerce, Point South, Park Plaza, Hayes Way, Cannock, WS12 2DB. Free.

08450 710 191, c.plant@chase-chamber.com 10 GBCC Chamber Business Breakfast with Neil Rami, CEO, Marketing Birmingham, 7.30-10am, Birmingham Town Hall, Victoria Square, Birmingham, B3 3DQ. £15 members, £22.50 non-members. 0121 607 1772, events@birminghamchamber.com 10 Solihull Chamber, Need 2 Know – How to Grow Your Business Overseas, 9am12pm, Solihull College, Blossomfield Road, Solihull, B91 1SB. Free. 0121 678 7488, solevents@solihull-chamber.com 10 IoD West Midlands: Directors Members Evening at The Swan, 5.30-8pm, The Swan Hotel, 46-46a Greengate Street, Stafford, ST16 2JA. Free. Sue Hurrell 0121 643 1868, sue.hurrell@iod.com 10 CBI West Midlands Annual Dinner, International Convention Centre, Broad Street, Birmingham, West Midlands B1 2EA. Anne Cullom, anne.cullom@cbi.org.uk 12 GBCC Burton and South Derbyshire College Connect Business Breakfast, 7-9am, The Hilton at St. George’s Park, Burton on Trent, DE13 9PD. Free. 01283 494 508, sarah.mcquitty@bsdc.ac.uk 12 GBCC Professional Networking Lunch, 12.15-2pm, Drayton Manor Hotel, Tamworth, B78 3TW. £18 members, £25 non-members. 08450 710 191, c.plant@ chase-chamber.com

24 IoD West Midlands: In Front of the Camera Media Training, 6-8pm, University of Birmingham, Edgbaston, Birmingham, West Midlands B15 2TT. £10 members, £15 non-members. Sue Hurrell 0121 643 1868, sue.hurrell@iod.com 24 Solihull Chamber, Need 2 Know – How to Make the Most of Social Media for Your Business, 9am-12pm, Solihull College, Blossomfield Road, Solihull, B91 1SB. £12.50 members, £20 non-members. 0121 678 7488, solevents@solihull-chamber.com 25 GBCC Let’s do Business Staffordshire – Exhibition & Networking, 10am-4pm, Uttoxeter Racecourse, Burton upon Trent ,ST14 8BD. Free. 01283 535 640, c.plant@chase-chamber.com 26 GBCC Lichfield Business Connect Breakfast, 7-9.30am, Lichfield Rugby Club, Cooke Fields, Tamworth Road, Lichfield, Staffordshire, WS14 9JE. £8.33. 08450 710 191, c.plant@chase-chamber.com

JULY 2 GBCC How to Make the Most of Your Membership, 9-11am, Birmingham Chamber of Commerce, 75 Harborne Road, Edgbaston, Birmingham, B15 3DH. Free members, £10 non-members. 0121 607 1772, events@birmingham-chamber. com 3-4 IoD West Midlands: Leadership Training with the British Army, 9am-4pm, Marlborough Barracks, Temple Herdewyke, Southam, CV47 2UL. £195. Sue Hurrell 0121 643 1868, sue.hurrell@iod.com 6 IoD West Midlands: Achieving Sustainable Business Growth, 6-9pm, Eleven Brindley Place 2 Brunswick Square Birmingham B1 2LP. £50 members, £100 non-members. Sue Hurrell 0121 643 1868, sue.hurrell@iod.com 7 IoD West Midlands: Shining a Light on the Dark Arts of Search Engine Optimisation, 7.30-9am, Higgs & Sons Solicitors, 3 Waterfront Business Park, Brierley Hill, DY5 1LX. Free. Sue Hurrell 0121 643 1868, sue.hurrell@iod.com 7 Solihull Chamber, Need 2 Know – Finding Funding, 9am-12pm, Solihull College, Blossomfield Road, Solihull, B91 1SB. Free members, £8.33 non-members.

0121 678 7488, solevents@solihull-chamber.com 7 GBCC Members Coffee Morning, 9.30-11.30am, The National Brewery Centre, Horninglow Street, Burton on Trent, Staffordshire, DE14 1NG. £7.50 members.

01283 535 640, c.plant@chase-chamber.com.

9 GBCC Access to Finance Seminar, 9-11am, Birmingham Chamber of Commerce, 75 Harborne Road, Edgbaston, Birmingham, B15 3DH. Free members, £10 non-members. 0121 607 1772, events@birmingham-chamber.com

17 BBBC, Breakfast Club, 7-9am, Hotel du Vin, 25 Church St, Birmingham, West Midlands B3 2NR. £20. Book at www.bbbc.biz

10 GBCC Professional Networking Lunch, 12.15-2pm, Drayton Manor Hotel, Tamworth, B78 3TW. £18 members, £25 non-members. 08450 710 191, c.plant@chase-chamber.com

17 GBCC Greater Birmingham Chambers of Commerce Charity Golf Day, 9am11pm, The Belfry Resort, West Midlands, B76 9PR. £500 members, £640 nonmembers. 08450 710 191, c.plant@chase-chamber.com

10 Headz Up Business, Digital, Sales, Marketing & Technology Expo, 11am-2pm, Light House

18 IoD West Midlands: Business of the Snowdome, 6-8pm, Leisure Island, Riverdrive, Tamworth, Staffordshire, B79 7ND. £15 members, £20 non-members.

Sue Hurrell 0121 643 1868, sue.hurrell@iod.com 19 Headz Up Business, Women In Business Expo, 10.30am-1.30pm, Birmingham City Council House, Banqueting Suite, Victoria Square, B1 1BB. Free. 07772 045 850, enquiries@headzupbusiness.co.uk 23 IoD West Midlands: The Top 5 Things Every Director Must Know, 6-9pm, Eleven Brindley Place 2 Brunswick Square Birmingham B1 2LP. £50 members, £100 nonmembers. Sue Hurrell 0121 643 1868, sue.hurrell@iod.com 23 GBCC Tender Breakfast: Bidding & Tendering, 8-11am, Birmingham Chamber of Commerce, 75 Harborne Road, Edgbaston, Birmingham, B15 3DH. Free members, £10 non-members. 0121 607 1772, events@birmingham-chamber.com

BUSINESS QUARTER | SUMMER 15

The Chubb Buildings, Fryer Street, Wolverhampton, WV1 1HT. Free. 07772 045 850, enquiries@headzupbusiness.co.uk

The diary is updated daily online at www.bqlive.co.uk Please check with contacts beforehand that arrangements have not changed. Event organisers are also asked to notify us at the above email address of any changes or cancellations as soon as they are known.

KEY: BBBC, Birmingham Business Breakfast Club. CBI, Confederation of British Industry. GBCC, Greater Birmingham Chambers of Commerce. IoD, Institute of Directors.

90

Andrew Whiting Wealth Consultancy LLP, Senior Partner Practice of St. James’s Place Wealth Management aim to help both individuals and business people to fulfil their aims and aspirations, offering that all important ‘peace of mind’ for the future.

With expert tailored advice, they believe that no client is the same and therefore developing an understanding long term relationship is essential to deliver the very best service they can offer.

Andrew Whiting will be holding a complimentary wine tasting and investment planning presentation event held on Thursday 10 September at Laurent Perrier Champagne Bar and Marco Pierre White Steakhouse and Grill, The Cube Birmingham.

0121 215 0926

PLEASE CALL , O R E M A I L jan.bloomer@sjpp.co.uk to register your interest.

The Partner Practice represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website www.sjp.co.uk/products. The title ‘Partner Practice’ is the marketing term used to describe St. James’s Place representatives.