Talk Business October 2013 by Talk Business

W W W . T A L K B U S I N E S S M A G A Z I N E . C O . U K

FOR THE ENTREPRENEUR

BY THE ENTREPRENEUR

October 2013 £4.50

Football’s first lady Karren Brady on West Ham, The Apprentice and what holds women back in business

15% of SMEs are female-led

Does the UK lack entrepreneurial women?

£70 billion unclaimed We reveal the ultimate tax rebate

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SMEs require specialist expertise from a dedicated account manager who understands your company’s unique travel patterns, needs and budget If you’ve never been properly walked through the benefits of professionally managed travel, your business is at a major disadvantage. Expert business travel management can open up a world of savings and efficiencies for your organisation. There is a common misperception that SMEs can secure the cheapest business travel by booking directly with suppliers. The Internet revolution, combined with low-cost carriers and budget hotels, has certainly changed the way in which SMEs view their travel. But as time-strapped CEOs and Personal Assistants spend countless hours trawling the Internet for fares and managing their own travel arrangements, are the benefits really what they seem? While there are many cost reduction strategies which can be applied to an organisation’s travel programme, for businesses with a small-to-medium sized travel spend, the secret to success is knowing what the best strategies are and how they can be applied to your individual business. Corporate Traveller will work with you to design a set of cost reduction strategies specific to your business needs, which may include: 1. Working with a dedicated account manager, offering a personal and flexible service 2. Access to the widest range of best priced product 3. Improving how your company travels as a whole 4. Working with you on cost saving strategies 5. Traveller safety strategies 1. Dedicated account manager, offering personal and flexible service When it comes to business travel nothing beats having a travel expert on board. Our dedicated Account Managers are highly experienced, commercially driven and have exceptional product knowledge

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to deliver airfare and land product options which will have an immediate impact on your bottom line. Partner with an expert and your business can expect travel management, advice and strategies tailored specifically for your business. Your business will benefit from high-touch travel assistance delivered by a dedicated account manager or small team which develop an in-depth understanding of your business, to look after your every travel need. 2. Access to the widest range of best priced product As the 3rd largest travel retailer in the world, the Flight Centre group has the global negotiating strength to give you access to the widest range of product at the best rates. In addition, by utilising multiproduct platforms to source air, hotel and car hire, your dedicated travel expert can deliver a rapid turnaround on these globally competitive prices. Multi-channel product sourcing is very handy during times of high traveller demand, crisis situations or travel disruptions – as it means your travellers will always have options no matter what is happening in the travel industry. 3. Improving how your company travels as a whole Corporate Traveller will work with you to create efficiencies at every phase of the travel process. Are all of your booking, buying, account management and expense management procedures operating as efficiently as possible? The first step in creating efficiencies on your travel is to work with the one accountant manager. From here your business can look at options to simplify and streamline your processes with offline and where appropriate, online solutions. The less time you spend on organising travel, the more time you’ll have to focus on your core business.

4. Working with you on cost saving strategies Significant savings can be achieved for your business, as a result of simple changes to the way you manage your travel bookings. Our expert account managers will work with your business and offer advice on the best ways to save you and your company time and money. Industry studies prove there are a number of strategies companies can use to drive savings on their air, hotel and car hire spend. By implementing ‘best practice’ booking, buying and operating processes, your business is in an excellent position to leverage savings through smarter travel management. 5. Traveller safety strategies Risk management planning is a vital part of protecting your business travellers. We can assist you in your duty of care to employees who are on the move or planning to travel. We offer 24/7 emergency assistance – it is vital that your travelling employees have access to personal and experienced travel managers whenever they need it! Safety and security has always been an important aspect of business travel. Major disruptions to the global travel industry in the past few years have made traveller safety and security one of the most talked about topics in corporate travel. When it comes to traveller safety the involvement of an experienced travel manager is a crucial part of managing the risks of a mobile workforce. In the event of an emergency, you need to be able to track the location of your travellers quickly and efficiently. This visibility is only possible when flights and accommodation are booked through one central source. Bring a Corporate Traveller expert on board and improve how your company travels as a whole.

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CUTTING TRAVEL COSTS FOR SMALL BUSINESS TRAVEL BUDGETS Save time and money with an expert on board

Call 082 5675 Call0800 0800 082 5675 corptraveller.co.uk corptraveller.co.uk CT September Proof 1.indd 3

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iNSIDE 11 Editor’s letter 13 Letters

TALK strategy 51 The branding column Rich With 52 Where did all the women go? Female entrepreneurs 57 No place like home Motivation

15 News & Events

58 Nectar Small Business Awards 2013 Nectar Business 63 Husband like wife Adam Caplan 65 The sales doctor Solving your sales problems 67 Rate yourself Conduct your own perfomance review

talk MARKETING 69 The marketing column Kimberly Davis

TALK Success 18 The first lady of football Vice-chair of West Ham United and Apprentice star, Karren Brady 24 Take one company Goody Good Stuff

71 Be single-minded Email marketing 74 The girls mean business Events

talk people

27 Introducing… TB grills a young up-and-comer 28 ‘A suit? It’s not for me.’ Brad Burton 32 Dell’s female leaders Inspiring women 35 Book reviews 138 He said/she said What are the entrepreneurs saying this month?

talk MONEY 37 The funding expert Financial innovation 40 Sitting on a fortune? Capital allowances

Talk image 91 Learn body language Projecting the right image 92 Look the business: power ties Fashion 96 Hot spots Christmas parties 99 We love… A few favourites

talk technology 101 Our man in the valley David Richards’ tech column 104 A visit to Caterham F1 British technology 108 4G in small business Mobile networks 111 Action on the small screen M-commere 113 I’ve got an app for that… Our fave business apps 114 AltiGen iFusion Vs. Native Union Curve iDock iPhone docking stations

77 The people column Lee McQueen

TALK FRANCHISE

78 Secret diary of an entrepreneur A week in the life of the Muddy Matches founder

121 Spotlight The Running School

81 The MD Magnifier Q&A BuyMyWardrobe.com 83 What are employee shareholders? HR Insight

119 Franchise news

123 The fran man Building for success 125 Take one franchisee Gill Reynolds, Longcroft Cat Hotel

talk aDVICE

86 Life imitating art Mother & daughter duo

128 QMS UK

89 How important are accolades? National Business Awards 2013

134 Digifroot

131 eZe-Talk Telecom 136 Talk Business directory

43 A day in the life Diary of a Start Up Loan recipient 45 Before you sign on the dotted line… Legal agreements

47 Combat credit card fraud Online security

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editor’s letter

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EDITOR

Dawn Murden dawn.murden@astongreenlake.com

DESIGN

Paul Christopher Daniels paul.daniels@astongreenlake.com Heather Rugeley heather.rugeley@astongreenlake.com

WEB DEVELOPMENT MANAGER Mitchell Finlay mitchell.finlay@astongreenlake.com

SALES AND MARKETING MANAGER

Scott Hartley scott.hartley@astongreenlake.com

SENIOR ACCOUNT MANAGER Damien Ward damien.ward@astongreenlake.com

ACCOUNT MANAGER

Trystan Hurley trystan.hurley@astongreenlake.com

MANAGING DIRECTOR Jay Boisvert jay@astongreenlake.com

Circulation/subscriptions: UK £40, EUROPE £60, REST OF WORLD £95 Circulation enquiries: Aston Greenlake Publishing Ltd T: 0203 617 4680 Talk Business is published 12 times a year by Aston Greenlake Publishing Limited Floor 8, 6 Mitre Passage Peninsula Central Greenwich, London SE10 0ER T:02036174681 ©Copyright 2013. All rights reserved. No part of Talk Business may be reproduced, stored in a retrieval system or transmitted in any form or by any means, without the prior written consent of the editor. Talk Business will make every effort to return picture material, but it is sent at owner’s risk. Due to the nature of the printing process, images can be subject to a variation of up to 15 per cent, therefore Aston Greenlake Publishing Limited cannot be held responsible for such variation.

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Girl power

ince becoming editor of Talk Business, I’ve spoken to some very inspiring, ambitious and successful entrepreneurs, both male and female. At Talk Business we believe in equality, but I can’t ignore that, in the past, we’ve featured more men. Looking back at our 23 covers, only six have featured women. In our defence, 70% of the emails coming through to me about entrepreneurs are about males. Studying this issue in a wider sense, I found the following statistics, which back up my inbox; in 2003 women owned 30% of UK businesses, this percentage has increased, but not by much – it now stands at 37%. Just 15% of SMEs are female led, and things are not much better at the top; just 17% of FTSE100 board members are female. Where have all the women gone? On page 52 I investigate if there are a lack of female entrepreneurs, and if so, why that might be. Despite these figures, there are many great female entrepreneurs out there. One of the UK’s most famous is, Apprentice boss Lord Sugar’s right-hand woman and West Ham United’s vice-chair, Karren Brady, who is our Face on the cover this month. She once said ‘Women have brains and uteruses, and are able to use both,’ and on page 18, I find out her secrets of success and what she believes can hold women back in business. Turn to page 24 to read about Melissa Burton – the entrepreneur taking the confectionary world by storm

with her brand, Goody Good Stuff in Take one company, and page 32 to read about the female trio managing one of the world’s biggest tech companies. On top of that there are plenty more interviews with female entrepreneurs at different stages of their business, and as usual, tons of useful advice for growing your business. Take care of business for now.

Dawn Murden, editor

@TalkBusinessMag

talkbusinessmagazine.co.uk

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Contributors & LETTERS

Meet the experts Mark Tighe has been managing director of several companies, including Carphone Warehouse. Mark embarked on founding Catax Solutions more than six years ago with four fellow directors. Mark and the directors have vast, upto-date knowledge of the complex area that is capital allowances. Catax Solutions has become the leading specialist in maximising capital allowances for all manner of commercial property owners. This approach has led to the opening of three offices across the country, in Manchester, London and Birmingham.

Karen Meager from Monkey Puzzle Training & Consultancy draws on her business and psychology expertise to create leading edge training that delivers both business needs and individual development. She has an MBA, specialising in strategy, financial strategy and human development. She is also a UKCP-registered psychotherapist and an INLPTA-certified NLP Master trainer. Karen evolved into training and coaching after working for ten years running call centres, sales and marketing teams and operational business units in the financial services industry.

Are you sitting on a fortune? On page 67, Karen tells you Mark reveals the ultimate tax how to conduct your own performance review. rebate on page 40.

Daniel Foster studied for a computer science degree at UMIST in Manchester, graduating in 2000. Leaving university during the height of the dotcom boom, he founded 34SP.com with a friend, to fill a gap in the web hosting market. It rapidly became a full time job and 13 years later, the company has grown to host tens of thousands of websites for individuals and businesses. In his spare time, Daniel is a private pilot and has flown himself and his wife around Europe, looking for the next challenge.

Jasmine Hetherington Wilkes struggled to find a job when she left university in 2010. After spending a year unemployed, she used a £4,000 loan from the Prince’s Trust to help set up her own video production company, BOKO Creative. She spent the first six months working for free to try to get her work noticed. A year later, she now employs five staff, has worked with big brands like Coca-Cola and has been nominated for, and won several awards.

Read Daniel’s article about online credit card fraud on page 47.

Turn to page 27 to read about this young up-andcomer who is definitely one to watch.

OCTOBER 2013

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MAILBOX

If you’d like to send us your thoughts about Talk Business, or anything else that’s happening on the SME scene, just get in touch: email: dawn.murden@astongreenlake.com snail mail: Aston Greenlake, 6 Mitre Passage, 8th floor, Greenwich Peninsula, London SE10 0ER

This month our readers praise the September issue and congratulate James Caan on his Chairman of the Year Award

Caan do attitude

Dear editor, Well done on pinning down James Caan for an interview in the September issue – I really enjoyed reading it. He was, and still is, one determined (and stubborn) individual. He pushed the boundaries of life and his culture and is a success story we’ll never forget. I wanted to congratulate him on his Chairman of the Year Award at the International Business Awards too! Mark Parsons

R OF E T T E L MONTH THE

Making the right choice I’d never really thought about having a comparison site for funerals before, so I found Kim Bird’s article [Secret Diary of an Entrepreneur, September] enlightening. It’s a very sensitive subject and I think she’s a brave lady for taking the modern industry on, in the footsteps of her family. Yours sincerely, Charlotte Founder of Charlie’s hairdressing

Tweets 0F the month... @STLemma Latest issue of @TalkBusinessMag arrived! An excuse for a coffee & catch up on #smallbiz news. We’re in there too! @STLemma @TalkBusinessMag thanks! Hope you’re having a good day. Thanks for the mag. It looks great. Passed it onto my contacts too @118Alison Look what’s just fallen through the letterbox. I LOVE this magazine @TalkBusinessMag :-) @PendoDeals Read all about it! The magazine for the entrepreneur by the entrepreneur @jamescaan @TalkBusinessMag #bizitalk @TalkBusinessMag @jamescaan Thanks for the follow! – Dawn @jamescaan @TalkBusinessMag Not a problem, happy to do so!

Social media breakdown

Katie King’s article on social media [Where to share, September] was fantastic. It broke each site down into a simple couple of paragraphs – I feel like I have better understanding now. Although it made me think about Talk Business – you don’t have a Vine or Instagram account. It would be good to see the mag maximising its social media so we can follow suit. Eliza Edwards

@Rich_Hoot @TalkBusinessMag just finished my article however will probably be late just to let you all know I’m not a boffin @FancyDressFtics @TalkBusinessMag Chuffed to bits with article about us in Sept @TalkBusinessMag – life changing startup loan #Bristol #Business @SilverDogCharm_ I’ve got 5 min to myself, spending it wisely with a cuppa and a copy of @TalkBusinessMag #blissful

talkbusinessmagazine.co.uk

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NEWS & EVENTS

Dates for the diary Business Junction Networking Events 10 October Cinnamon, Soho 24 October Gallery Different, Fitzrovia 30 October The Anthologist, Bank businessjunction.co.uk

Successful Selling Expo 17 October RICOH, Coventry sales-expo.co.uk

Southampton Business Show 7 November Ageas Bowl, Southampton southamptonbusinessshow.co.uk

Apps World 22-23 October Earls Court, London apps-world.net/Europe

Franchise South 8-9 November Ageas Bowl, Southampton franchisesouth.co.uk

eCommerce Awards 2 October Marriot Hotel, Grosvenor Square, London ecommerceexpo.co.uk/page.cfm/ link=250

The Spain Start-up and Investor Summit October 2013 Date & venue TBC spain-startup.com

National Business Awards 12 November Grosvenor Park, London nationalbusinessawards.co.uk

eCommerce Expo 2-3 October Olympia, London ecommerceexpo.co.uk Digital Marketing Seminar 16 October The Royal Automobile Club, Surrey www.eventzilla.net/web/ event?eventid=2138980904

Kent 2020 Vision Start-Up Live 23 October Kent Event Centre, Maidstone kent2020startup.co.uk National Sales Awards 7 November Troxy, London nationalsalesawards.com

Men can learn from women MEN AND WOMEN network differently, according to findings by by D.I.N.E. Events. Women take a long term approach, building relationships over time based on shared experiences. Connections between men are often based on transactions where business is traded. Lovelda Smith, founder of D.I.N.E. Events, said: ‘It’s no secret that women are exceptional networkers, and value the depth of relationships they build over time. ‘Unfortunately the current networking landscape is entirely unsupportive of this, favouring instead a more masculine approach, which focuses on quantity of touch points

over quality in a given period of time.’ In this information age, your ability to influence others and leverage your network could not be more important. Despite technology and social media networks, some old fashioned principles still hold true. According to a recent survey, 42% believe traditional networking ideas, such as handing out business cards, could generate at least £5,000 extra revenue per year, which only supports the theory that people still do business with people they know or meet face to face in the real world. For tips on networking from Lovelda Smith, visit talkbusinessmagazine. co.uk/women-networking

talkbusinessmagazine.co.uk

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Untapped export markets

Mothers tweet more WOMEN WITH CHILDREN clocked up a huge 443.3 minutes on social networking sites in July 2013, about 17 minutes more than the average UK female, according to consumer engagement company, Rakuten MediaForge UK. Furthermore, men with children showed more interest in using social sites than males in general, although they trailed far behind mums. Mums are also more likely to have accounts across the social spectrum. For example, eight out of 10 UK mums used Facebook, and the same percentage accessed YouTube. That’s compared to 72% of the general UK population on Facebook, and 67% on YouTube.

Rakhee Jogia, director of client services at Rakuten MediaForge UK, commented: ‘Forums like Netmums have demonstrated that as a collective, mums have an extremely powerful voice online, and there is huge potential for marketers to tap into their connection with social media. ‘There are challenges for brands looking to target digital mums; their busy lifestyles mean they only want to engage with a brand in a way that fits into their daily lives – this is why the internet is the perfect advertising platform to engage them. ‘With the right ad, at the right time, marketers can drive social sales and encourage mums to keep coming back to their brand.’

NEW RESEARCH FROM RBS Group economists has identified attractive untapped markets for UK exporters to get ahead in the global race. Nearly a third of the UK’s economy is made up of exports, and yet most still tend to concentrate their efforts in Europe or America. RBS studied nearly 50 export markets. Each destination’s attractiveness was determined by compatibility (matching import needs to UK exports), growth, prosperity, and the ease of exporting, in addition to the size of each import market. These countries combined made up less than a quarter of all UK goods exported in 2012. David Fenton, senior economist at RBS said: ‘It’s clear there are export opportunities, which British businesses aren’t fully taking advantage of. While the outlook is currently subdued in key export markets like Europe and the US, success will increasingly rest on less-indebted, faster-growing parts of the world. ‘There’s no doubt that emerging markets have entered a more challenging and uneven growth phase. But they will still be the biggest contributor to global growth over the next five years.’ For more information on untapped export markets visit: http://tinyurl. com/oyzgl5

Nation empowered by virtual managers ONE IN THREE UK workers are now being managed remotely at least once a week, according to research. The study, from recruitment firm Reed, reveals that virtual or remote management is welcomed by employees and employers alike, and is a trend that’s on the increase. Of those employees that are managed remotely, eight out of ten are not connecting with their superiors on a daily basis and one in five goes more than a month without connecting with their manager. From this group, 40% say their levels of face-to-face contact have gone down in the last 12 months, with other forms of contact, such as texting and

video calls, on the rise. The study shows that remote management is welcome, with 84% of those being managed remotely saying they are happy with the level of contact they receive. This highlights the growing independence and empowerment among UK workers, with nearly two thirds (62%) preferring managers who give them the freedom to get on with their work uninterrupted. Tom Lovell, group managing director of Reed, said: ‘Remote management offers many employers more flexibility, and workers are welcoming the opportunity to approach their own role in a more independent way.’

OCTOBER 2013

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FACE ON THE COVER

TALK SUCCESS

The first lady of football She’s vice-chair of West Ham FC, Lord Sugar’s right-hand woman on The Apprentice and the UK’s most powerful businesswoman. Dawn Murden meets Karren Brady

hen I decided to focus on female entrepreneurs this issue, one businesswoman sprung to mind immediately for our cover; Karren Brady. I met Karren at the Nectar Business Small Business Awards and when she walked into the room, she owned it – she has a confident, serious business-like air about her, but she’s also elegantly feminine, friendly and attentive. However, I couldn’t help feel a little in awe of Karren. She started her career aged 18, at Saatchi & Saatchi on its graduate scheme, despite never attending university, and swiftly moved on to London Broadcasting Company as a sales executive. She was tasked with selling adverts for an unpopular slot, and asked David Sullivan to advertise his Sports Newspapers. At first he declined, but Karren’s champion selling skills soon had him spending £2 million on advertising. Impressed with Karren, Sullivan offered her a job and within a year she became director of Sports Newspapers.

Four years later, Sullivan and Karren were looking for a new venture and purchased Birmingham City FC, which was in administration. Karren took over as managing director from 1993 to 2009 and turned the club’s fortunes around. Aged 23, she became the “first woman in football”, and when she floated the club on the stock market in 1997 she became the youngest MD of a UK public company. In October 2009, the club, valued at £82 million, was sold. Three months later Karren was appointed vice-chair at West Ham FC after its purchase by David Sullvian and David Gold, the club’s joint chairmen. Karren is also non-executive director of Mothercare, chairman of Kerrang! magazine, non-exec director of multi-national retail company Arcadia, and non-exec director of Simon Cowell’s marketing and production company Syco. She regularly appears in the media – most notably on TV as Lord Alan Sugar’s right-hand woman on BBC’s The Apprentice. She’s also an

Sweeping up hair in a salon when I was 16… everyone thought I was just a kid, but by the end of the week I was running the place

ambassador for charities; The Stroke Association, WellChild and the Teenage Cancer Trust. How does she do it? ‘Finding a work/life balance is important,’ she told me. ‘You have to realise that you can’t do everything.’ Success runs in the family; her Irish father, Terry Brady was a self-made millionaire who owned a printing company and was once chairman of Swindon Town FC. She says her father, and mother Rita, taught her the value of hard work, but what drove her was a need for independence. ‘At boarding school nothing was mine,’ she says. ‘I wanted to be in control of my own destiny.’ To me, her confidence is most alluring and she says this is the quality many women struggle with in business. But when I mention a lack of females on corporate boards she replies: ‘Not on mine. 60% of my manager team are women.’ Karren is passionate about female entrepreneurs and SMEs, and they can all learn a thing or two from her.

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FACE ON THE COVER

WHY DID YOU BECOME INVOLVED WITH THE NECTAR BUSINESS SMALL BUSINESS AWARDS? Small business is very important to me. I remember what it was like setting up my own business, taking that giant leap of faith, while everyone around you is trying to put you off the idea. These awards give SMEs a platform and a seal of approval to help them grow. WHAT WAS YOUR VERY FIRST JOB? Sweeping up hair in a salon when I was 16. On my first day I know everyone thought I was just a kid, but by the end of the week I was practically running the place. I’d re-organised their appointments and their pricing system. DID YOU ALWAYS WANT TO BE AN ENTREPRENEUR? From a young age I had one ambition; to be independent. I went to boarding school where nothing is your own, not even your bed. Everyone else controls your life, they tell you what to eat, when to sleep – I wanted to be in control of my own destiny. I knew I needed money to do that, so I identified what I was good at. I was a good communicator, creative, and good at sales, so I went into advertising.

WHAT ARE SOME OF THE BIGGEST CHALLENGES YOU’VE FACED IN BUSINESS? As a small business owner – getting investment, finding the right employees, being prepared to learn the business along the way because I didn’t know everything. I had to learn every skill I could and constantly update them, and if I couldn’t learn particular skills I had to employ someone who had them. I had to work out my sales and marketing strategy, I had to figure out how to promote, how to tell my story, and my budget strategy. Now, I employ 800 people – I have to make sure all of those people feel a part of the business, that they are well paid, and they’re able to follow their dream in the company. I have to create a great culture.

Men get knocked back after applying for a job and don’t think twice about re-applying. Whereas women will

TALK SUCCESS

and don’t think twice about reapplying. Whereas women will “um and ah” about it. WHAT WOULD YOUR ADVICE BE TO FELLOW FEMALE ENTREPRENEURS? Make sure you’re being taken seriously. Be confident and promote yourself – if you don’t credit yourself, who will? I’d also suggest seeking a mentor to help guide you. HOW DID YOU FIRST GET INVOLVED WITH BBC’S THE APPRENTICE? The show was already successful and well known before I joined. I met Alan when he was chairman at Tottenham and we became friends. I appeared on Comic Relief Does The Apprentice as a team leader and returned as a guest interviewer in series four. When Margaret Mountford left, I stepped in.

WHAT ARE THE BIGGEST ISSUES FACING FEMALE ENTREPRENEURS? The ability to manage a business and have a family. It keeps most females awake; I used to think, “How do I get to my child’s sports day and the board meeting at the same time?” I had to accept I couldn’t do everything. You have to accept that sometimes business is more important, and other times, family is more important. My two girls are in their teens now. My diary is colour-coded so I can manage my life/work balance and devote time to each. I also think fear and a lack of confidence can stand in the way of women. Men get knocked back after applying for a job

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When I joined West Ham [it] was in £100 million worth of debt. Now we’re looking to move to the Olympic stadium in 2016 and are reporting profit

THERE IS A LOT OF PRAISE FOR THE SHOW BUT ALSO MANY CRITICS. WHAT WOULD YOU SAY TO THOSE CRITICS WHO COMPLAIN THE SHOW DOESN’T REPRESENT REAL LIFE OR BUSINESS? You have to look at the outcome of the show. From the last series alone three businesses have been set up, with £250,000 invested. It may be a TV show but it has serious objectives. It might not always be truthful to life or business but it’s a positive show. YOU ARE INVOLVED IN A LOT OF BUSINESSES RIGHT ACROSS THE BOARD, WHICH OF YOUR VENTURES IS MOST CONNECTED TO YOUR HOBBIES? My hobby is business. I’m interested in different people and different businesses; I’m interested in their ideas, challenges, and so on. I enjoy everything I do, when you stop enjoying something you stop doing it.

YOU’RE KNOWN AS THE “FIRST WOMAN IN FOOTBALL”, HOW DOES THIS TITLE MAKE YOU FEEL? Old! It was 20 years ago. DO YOU ENJOY FOOTBALL BECAUSE I’VE READ A FEW ARTICLES THAT YOU DON’T? Yes I do like football, and I don’t know why some people say I don’t! I’m in my 20th year in football. WHEN YOU BECAME MD OF BIRMINGHAM CITY YOU WERE JUST 23, WERE YOU NERVOUS? No – I was excited. When you’re young you’re thick skinned. I had a plan. I was positive, dogged, full of energy, and determination. The first year I became MD the club made profit for the first time. Building a culture was the hardest thing, renewing the structure and building that togetherness a business needs.

Picture credit: BBC Pictures

TALK SUCCESS FACE ON THE COVER

WHAT DOES THE FUTURE HOLD? When I joined West Ham the club was in £100 million worth of debt. Now we’re moving to the Olympic stadium in 2016 and are reporting profit for the first time since I joined. A FEW FOOBALL FANS HAVE CRITICISED THE MOVE TO THE OLYMPIC STADIUM. HOW WILL THIS HELP WEST HAM? There are many great stadiums in the UK, but there’s only one Olympic Stadium. It’s iconic and world class, it will transform the business model and our branding, and it will it expand our spectator base. In regards to seating, we are currently working on a £200 million plan, the stadium will have four sides of retractable seating, and so spectators won’t be further away from the pitch. Contact: karrenbrady.com Apprentice website: bbc.co.uk/ programmes/b0071b63

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TALK SUCCESS TAKE ONE COMPANY

Vital statistics Company founded: September 2010 Start up capital: £200,000 Turnover: Last year £1.2 million Profit: Last year £67,000 Growth rate: Year-on-year more than 250% from 2011 to 2012, based on volume and profit. Biggest achievement: I’m from America so having convenience store 7-Eleven as one of our suppliers is a big deal!

eading the ingredients of gummy sweets can be puzzling. There are so many additives, so many words and numbers listing ingredients we know nothing about. Then there’s the frequently used animal-based gelatine, which restricts vegetarians, vegans, and many of a religious faith from touching tasty treats. Enter Goody Good Stuff, the all-new natural gummy range that’s taking the health world by storm. The “free from” labels take longer to read than eating the sweets. Because they’re tasty, and free from fat, meat, dairy, alcohol, gluten, egg, nut, soy, wheat and gelatine. Goody Good Stuff is the brainchild of Melissa Burton. Melissa grew up in New York and Colorado before crossing the pond to study at Lancaster University in 2003. She loved Lancashire so much she stayed

Giving sweets a good name Dawn Murden met Melissa Burton, founder of Goody Good Stuff sweets – the all-natural tasty treat taking the world by storm

I’ve been a vegetarian for 12 years and I always struggled to find nice sweets I could eat

in Heysham and has been selfemployed since she finished her studies. ‘I founded a financial advisory firm where I managed commercial finance and clients with high net worth,’ Melissa says. ‘When the recession hit, existing businesses couldn’t get loans, and start-ups couldn’t get funding, so I set up to try and help those companies.’ While working, Melissa stumbled on the opportunity to create the sweets. She met an inventor – he had come up a hydrocolloid gel, a gelatin alternative. Melissa identified this could revolutionise the sweet industry.

‘I decided to invest in this client myself and create a sweet,’ she says. ‘I’ve been a vegetarian for 12 years and I always struggled to find nice sweets I could eat.’ She also had inspiration from her mum and other family members. ‘They are teachers and mentioned taking in treats for pupils was a problem because some were Jewish and needed kosher food or some were vegetarian,’ Melissa says. ‘So we created Goody Good Stuff, making them free from artificial colours, flavours, harmful food additives and possible allergens, such as gluten – I wanted to create sweets everyone could enjoy.’

OCTOBER 2013

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26/09/2013 18:00

TAKE ONE COMPANY

Melissa founded the company with five shareholders; the inventor was one, while the other four were friends of Melissa. The company received no external funding. Melissa and her small team came up with the brand Goody Good Stuff, headed up by a cute koala called Kobi. ‘Kobi was the perfect mascot for us because koalas are vegetarian,’ she says. ‘We use him for promotions – last year he dressed up as Pudsey for Children in Need – he also visits children’s hospitals too. ‘Goody Good Stuff also supports a koala sanctuary in Australia.’ It seems being “good” is something at the heart of the sweet brand. Not only when it comes to the prevention of animal cruelty but the environment too. The company’s building in Heysham runs on wind and solar power. Some may think Melissa was lucky when it came to funding Goody Good Stuff, as she’d managed to save money from her other business, but success doesn’t come easily and Melissa had to work hard. ‘I used to go out and do sampling face-to-face with customers myself,’ she says. ‘It was time consuming, but I got to listen to consumers in a different way.’ And when the sweets were first stocked at stores like Whole Foods Market and Planet Organic, Melissa remained humble. ‘In the early days, I used to hide in health stores and watch people buying the products and I’d feel very emotional,’ she says. ‘Now I get emails from people all over the world saying how much they love the products – it’s fantastic.’ But before Melissa was able to see her idea in reality, there were plenty of hurdles to jump,

like competing with vegetarian sweet giants, Haribo, Panda and Millions, not to mention the non-vegetarian confectionary leaders, and working with small marketing budgets, but Melissa says this made the team smarter and more strategic. ‘Social media was a game changer for us, we managed to spread the word to the right audience quickly,’ she says. Goody Good Stuff’s success is clear – the sweets now have retail listings exceeding 5,500 outlets, export to 27 foreign markets - including the US, France, Germany, Sweden Dubai and Hong Kong, a whopping £1.2 million turnover and a 250% growth rate. Melissa was also recognised in 2011 when she won a Stevie Award for Best Entrepreneur in EMEA and Goody Good Stuff recently won the Nectar Business Small Business of the Year Award [see page 58 for more on the Awards.] Goody Good Stuff was approached by various investors and companies, and was sold to Cloetta, the leading confectionary company responsible for Chewits, last June. Melissa is staying on as managing director, working with Cloetta’s local teams. ‘I didn’t think we ever had the chance of doing this – I was flattered,’ she says. ‘There was only so much we could do with a team of five, but it was important for me to stay on as I didn’t want to lose Goody Good Stuff to a corporate machine.’ Goody Good stuff has plenty lined up for the future with Halloween, Valentine’s and Christmas-themed sweets set to launch. Both Goody Good Stuff and Melissa Burton should be watched with an eagle business eye – life for the entrepreneur and the brand sure is sweet. Contact: goodygoodstuff.com

TALK SUCCESS

In the early days I used to hide in health stores and watch people buying the products and I’d feel very emotional

My life I’m watching: I don’t watch too much TV but I’m loving X Factor. I also like Breaking Bad and Game of Thrones. I’m reading: Mostly business and communication books. I’m listening to: At the moment I love Disclosure and Rudimental. But I adore classic rock like the Rolling Stones. I’m surfing: Facebook, Twitter, and Amazon. I’ve also got into juicing so I keep going on juicing websites.

talkbusinessmagazine.co.uk

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26/09/2013 18:00

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UP-AND-COMING

TALK SUCCESS

Introducing

Jasmine Hetherington Wilkes asmine and co-founder Adam Neale launched Boko Creative in 2011, which offers businesses engaging online video content at cost-effective prices. With the rise of online video marketing they realised that there was a demand for creative corporate video production.

Dawn Murden spoke to Jasmine Hetherington Wilkes, co-founder of Boko Creative, a video production company that has worked with big brands like Coca-Cola

WHY DID YOU LAUNCH YOUR BUSINESS? I was originally seeking a career in the film industry, as this is what I studied at university but the thought of spending years as a low paid runner didn’t appeal. It felt natural to go freelance and use my talents rather than my tea making skills. We started off making short club promos for little money, however word spread and we’ve ended up working with some incredible brands and clients. The daunting bit came later when I suddenly realised I was running a business and managing staff!

WHAT’S TOP OF YOUR BUCKET LIST? I don’t really have a bucket list; I just live by the words of my wise American friend Tamara: “Do one thing that scares you everyday”.

WHAT HAS BEEN THE MOST EXCITING PROJECT IN THE LAST YEAR? There have been so many highs (among several lows). I am enthused by working on charity videos, so one of my favorite projects was working on Coca-Cola’s corporate

social responsibility program, which allowed us to tour the Philippines, Africa, India and Brazil, telling stories of amazing women that Coca-Cola have helped through their 5by20 empowerment initiative. My passion is documentary so this was an incredible experience.

It felt natural to go freelance and use my talents rather than my tea making skills

TELL US ABOUT THE AWARDS YOU’VE WON… We’ve been lucky and won several awards for our individual films, but more recently we’ve been awarded Best Creative Brand 2013 in the British Young Business Awards and we’re nominated for the Princes Trust Celebrate Success Awards. I certainly didn’t expect to be winning business awards! WHAT’S YOUR ADVICE TO YOUNG ENTREPRENEURS TRYING TO GET AN IDEA OFF THE GROUND? Work hard and be persistent. Remember there is a lot of support for young entrepreneurs (the Princes Trust, London Youth Support Trust, etc) and that you can practically learn anything online.

WHAT WAS YOUR WORST JOB? Working as a waitress during college and dodging bottles being thrown during a rowdy racecourse event!

WHAT ARE THE BIGGEST CHALLENGES YOU’VE FACED? The whole process of setting up Boko Creative has been one big challenge (and it still is). There were a few stumbling blocks; premises being one. Being a small London business with potential to grow, finding affordable office space was difficult. Luckily we were put in touch with the London Youth Support Trust and they offer affordable space for young businesses. WHAT GETS YOU OUT OF BED IN THE MORNING? My love for making films, the thought of being creative, my clients and my colleagues.

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25/09/2013 13:33

TALK SUCCESS BRAD BURTON

‘A suit?! It’s not for me.’

f you haven’t heard of Brad Burton, I have to ask; where have you been? Just Google his name and you’ll see all the positive (and negative) press you’ve missed. Theo Paphitis said: ‘When I first met Brad I thought he was a builder,’ and no disrespect but I can see why – donning jeans, t-shirt, trainers, visible tattoos and a skinhead that Eastender’s Grant Mitchell would envy, he

I 28

Dawn Murden met founder of 4Networking, coach and author Brad Burton to talk tattoos, suits, skinheads and the release of his new book couldn’t be further away from your “typical” businessman in a suit. Brad grew up on a Salford council estate, left school with no qualifications, spent years on the dole and dabbled with drugs. But more importantly, he founded his first business in 2006, and now 4Networking, a

I grew up on a council estate... I spent four years on the dole, and was addicted to drugs

service which brings businesses together, is the largest business network in the UK, running over 6,000 events each year. He may be coined the Liam Gallagher of business by a few (he swears almost as much), and some may love him or hate him (like Marmite). But after speaking with Brad I’m definitely a fan.

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BRAD BURTON

So what if he doesn’t wear a suit? His network helps thousands of businesses, his motivational coaching sessions boast glowing testimonials and an honest money-back guarantee and his three books (Get Off Your Arse, Get Off Your Arse Too and now Life. Business. Just got easier.) have been received very well in the business world. His sheer determination is inspiring – he delivered pizzas to keep his business afloat in the early days – and he’s honest. What’s not to like? WHERE DID YOU GET THE INSPIRATION TO SET UP YOUR OWN BUSINESS? Working in marketing in London and living in Somerset, most of my money went on commuting. I’d probably have had more money if I were flipping burgers on Westonsuper-Mare seafront! However I thought running my own business would be a better idea. HOW DID YOU GET THE IDEA FOR 4NETWORKING? I set up a consultancy at first, but found business lonely. 4Networking grew out of wanting to beat that isolation. Plus I wanted to change networking for good. Meandering around eating volau-vents and swapping business cards wasn’t enough. I wanted to get rid of that tired old model. I UNDERSTAND YOUR BACKGROUND IS LESS THAN SQUEAKY CLEAN… I was living on the wrong side of the tracks for some time. I grew up on a council estate in Salford; I spent four years on the dole, and was addicted to drugs. I’ve always been honest about my background. I think people spend too much time being something they’re not. Success comes from being honest.

HAS YOUR DIFFICULT BACKGROUND MADE YOU MORE DETERMINED? Absolutely. I use it to push me forward. I use my pain and trauma to drive me on. In life I never had anything and this taught me to be frugal. Some business people will work hard to spend money on things like luxury granite worktops to appease the wife, but working too hard can take you to an early grave. Of course I’d rather have a Lamborghini than a used Volkswagen, but are the fast cars, luxury worktops and material things really important? No. WHY DON’T YOU BELIEVE IN WEARING A SUIT? We spend our days conforming. Most people wear a suit not because they want to, but because they think they have to. Don’t get me wrong I will wear a suit if it’s mandatory. But I don’t wear a suit daily because I’m honest about who I am. It’s not for me. Some may think I look scruffy but I am connecting with directors of £1.2 billion businesses. I’ve just been booked to speak at JCB headquarters and a massive recruitment company. I’m doing what works for me in businesses. It’s not about what I am; it’s about what I’m capable of. THEO PAPHITIS SAID; ‘WHEN I FIRST MET BRAD I THOUGHT HE WAS A BUILDER, BUT AFTER READING HIS BOOK HE IS MORE LIKE A NORTHERN ANTHONY ROBBINS!’ HOW DO COMMENTS LIKE THIS MAKE YOU FEEL? I do it on purpose – it’s free marketing. I always ask business owners “What makes you fundamentally different to your nearest competitor?” If you’re not different you need to

TALK SUCCESS

compete on price or personality, which is fine but it’s better being different. My tattoos and shaved head is my brand. DESCRIBE YOUR BUSINESS APPROACH IN ONE WORD. Honest. YOU’VE WRITTEN TWO BOOKS AND HAVE JUST RELEASED ANOTHER. DO YOU ENJOY WRITING BOOKS? I wrote the books to gain credibility. To be honest I’ve been waiting to get caught out! I admit the first reviews were mates but they have really taken off.

I had a nervous breakdown last year – I worked too hard and basically went mad. Instead of success I got sickcess TALK US THROUGH THE THIRD

BOOK – WHAT IS IT ABOUT? It’s about the last eight years and how I got where I am today. I had a nervous breakdown last year – I worked too hard and basically went mad. Instead of success I got “sickcess”. Sometimes we’ll do anything for success – despite wanting to own our own company to spend more time at home, we’ll end up spending less time at home and disregard our health. The book focuses on what’s important in life and in business.

Competition Want to read Brad Burton’s new book? We’ve got five copies of Life. Business. Just got easier., published by Wiley, to give away. Simply email your delivery address to dawn.murden@ astongreenlake.com stating “Brad Burton” in the subject line. The first six entries will receive a free copy of the book, worth £16.99, by post.

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028_029 SUCCESS Brad Burton.indd 41

27/09/2013 11:40

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FIVE KEY STATISTICS THAT CAN HELP YOUR BUSINESS SUCCEED

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in protecting your assets, you can not only cut costs, but also make use of a team of IT experts that will work round-the-clock, to ensure peace of mind for your business systems. Network London is a boutique IT services company that delivers authentic solutions to combat security concerns of businesses and provide a secure cloud platform for businesses that want that extra level of reassurance. For a free 2 hour IT audit of your business, contact Lee Smith on 0844 884 5196, lee.smith@networklondon. co.uk or visit our website at www.networklondon.co.uk

26/09/2013 17:01

TALK SUCCESS INSPIRING WOMEN

Dell’s female leaders

Dawn Murden interviews the three UK general managers of multinational IT company Dell

t age 19, Texan Michael Dell founded PC’s Limited – later renamed Dell – with $1,000 and a game-changing vision for how technology should be designed, manufactured and sold. Now, 28 years on it’s one of the biggest multinational IT companies around the globe. I was thrilled to find out the UK GMs are females. They may not have been around during the birth of Dell but I had to grill the three women who head up one of the biggest tech companies in the world.

HOW MANY YEARS HAVE YOU WORKED FOR DELL? Sarah Shields: Six. Claire Vyvyan: Eight. Aisling Keegan: 14. DESCRIBE A TYPICAL DAY IN 10 WORDS… SS: I suppose a typical day for

me goes a little like this: kids, calls, email, calls, email, calls, kids, recharge phone, bed. CV: Always hectic, everchanging, never typical, exhausting, satisfying and fun. AK: Too short to achieve what you want to get done! IS IT HARD BEING AT THE TOP OF SUCH A LARGE COMPANY WHEN YOU’RE FEMALE? SS: I’m not sure that being female makes it tougher, but as a mother I do have the added pressure of two boys under four years of age. I therefore need to balance being a mum and running the business – which I have to say I think I’ve got cracked. Dell’s flexible working policy is fantastic. I am able to balance my working hours around my childcare arrangements, meaning I get the best of both worlds CV: I think Dell has made

I’m not sure that being female makes it tougher, but as a mother I do have the added pressure of two boys

this incredibly easy with its diversity programs and complete equality in terms of the way it treats people. They have allowed me to have a fulfilling job and still be a mum and partner. Dell’s attitude has always been let the best woman or man get the role. AK: I think we’re fortunate enough to be working for a company like Dell that continuously strives to attract female talent. It’s certainly not easy with two young boys but it’s a choice you make. DO YOU THINK THERE ARE ENOUGH FEMALE ENTREPRENEURS IN THE UK? SS: I think women add an incredible quality to business and I’d love to see more. More women can be encouraged to become entrepreneurs. Initiatives such as Dell Women’s Entrepreneur

OCTOBER 2013

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27/09/2013 09:19

INSPIRING WOMEN

SARAH SHIELDS, general manager & executive director, consumer, SMEs

Network (DWEN) can be incredibly rewarding and offer female entrepreneurs more networking opportunities to support their careers. CV: I think there are plenty of female entrepreneurs but they need more support in really getting their businesses to grow. Quite often they tend to keep them small, so they can manage with other commitments. AK: There are a lot of female entrepreneurs in the UK with great ideas and thriving small businesses, but you can never have enough. DO YOU THINK MEN AND WOMAN ARE PERCEIVED AS EQUALS IN BUSINESS? SS: In my view, my gender has never held me back. Sometimes I need to shout louder to get heard, but I think that might be attributed to my personality rather than the fact I am female. In Dell, I believe men and women are equal but I am aware that may not be the case everywhere. CV: Yes, I personally think so, but I think it depends entirely on what attitude you adopt individually. I have always liked to knock down male bastions, from my early days playing rugby when women weren’t even allowed in the clubhouse. In fact, I have decided that it

CLAIRE VYVYAN, general manager & executive director, large institutions

can be a significant advantage in business to be female, as you are more memorable and often judged in a male peer group by different criteria than your male peers. AK: Now that’s an interesting question. I can safely say that in my experience with Dell, both men and women are perceived as equals. I’m not convinced it’s the same across all businesses. I think women still have a ways to go across the board before we’re truly there.

TALK SUCCESS

AISLING KEEGAN, general manager & executive director, preferred accounts

AK: We’re three very feisty, opinionated women. DO YOU EACH HAVE A SPECIFIC PERSONALITY? SS: We are each very different but the end result is a great team. I suppose Claire’s the competitive one, Aisling’s the glamorous one and I’m the fun one.

SS: Persevere! Build your network and be strong. AK: Have confidence in your abilities and conviction in what you want to achieve.

THE SETUP OF THE THREE OF YOU REPORTING BACK TO UK MD, TIM GRIFFIN REMINDS ME A LITTLE OF CHARLIE’S ANGELS. SS: We coined the label Tim’s Angels right at the start! In all seriousness though, Tim (like Charlie) is a great guy to work with and he appreciates and values what each of us brings to the table. CV: I’m not sure I feel like a Charlie’s Angel most days – I don’t have enough time in my life to look that good – ever hopeful though.

WHAT IS THE DYNAMIC LIKE BETWEEN THE THREE OF YOU? SS: I think the dynamic works really well because we are able to view topics from different angles and achieve a 360° view of opportunities and work together as a team. CV: We often disagree but it’s never personal. It’s Tim (Dell UK MD) I feel sorry for – having to manage the three of us as we are all full on!

WHAT MAKES YOU PROUD OF DELL AS A COMPANY? CV: They deliver great products and services with superb people and a real goal to serve customers. AK: You don’t stay at a company for as long as I have unless you’re personally, mentally and emotionally invested in what the company represents. Dell puts customers at the forefront of everything it does.

You don’t stay at a company for as long as I have unless WHAT WOULD YOUR you’re... ADVICE BE TO FEMALE invested in ENTREPRENEURS/BUSINESS what the WOMEN STRUGGLING AT THE company BEGINNING OF THEIR JOURNEY? represents

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032_033 SUCCESS Dell Managers.ga.indd 41

27/09/2013 09:19

TA K E C A R E O F B U S I N E S S A N D E N J O Y YO U R F I R S T E V E N T F R E E*

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26/09/2013 12/09/2013 10:48 17:32

BOOK REVIEWS

TALK SUCCESS

The Blue Line imperativE What Managing For Value Really Means By Kevin Kaiser and S. David Young Kevin Kaiser is the professor of management practice INSEAD and director of the transition of general management programme. S. David Young has coauthored numerous books about management value, attracting investors and funding in business. He is also a professor at INSEAD, one of the world’s leading business schools in France. They say: Every decision company leaders make has an impact on value – positive or negative – but the failure to properly define and assess value often makes it difficult for

Our verdict:

the people who manage businesses to effect longterm success. This book explains to those why their value initiatives aren’t providing the payoff they’d hoped for. We say: You’d think this book is a heavy read from finance buffs but they break down value so every business owner can measure exactly what value means to them – however it seems ironic that it’s a little pricey. The Blue Line Imperative is published by Wiley, priced at £29.99 in hardcover and e-book

Our verdict:

Making Your Strategy Work How To Go From Paper To People By Chris Outram Chris Outram has been a strategy consultant for more than 30 years and in that time; he has consulted to a multitude of corporations across various industries around the world. In 1987, he cofounded OC&C Strategy Consultants, which has more than 450 consultants, operating out of nine countries around the globe, including the US, China, India, Germany and Brazil. He says: The book goes behind the scenes at some of the world’s biggest businesses to find out what actually happens in boardrooms when top senior executives develop, and crucially, implement winning business strategies. It features exclusive one-to-one interviews

with 115 of the world’s leading executives, including those from Coca-Cola, Sainsbury’s, and BT. We say: This strategy handbook is easy-toread yet challenging and pragmatic, plus it’s glittered with quotes from highly successful businesspeople. Making Your Strategy Work is published by FT Publishing, priced at £12.99 in paperback

We’ve got one of each book to give away FREE. Be the first to follow and tweet us, quoting the book name @TalkBusinessMag & we’ll send you a copy!

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035 SUCCESS Book Review.indd 55

27/09/2013 11:41

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27/09/2013 13:23

here is a revolution ongoing at the moment in business funding, and unlike most revolutions, the Government is playing a supporting role. Three factors have led to a greater range of funding opportunities for SMEs and entrepreneurs. A PERFECT STORM Firstly, technology as a disruptive force and an enabler has facilitated the development of numerous alternative funding platforms. The numbers remain small; the total amount of credit outstanding to SMEs in the UK was £170 billion at the end of the second quarter of 2013, compared to total loans funded by Funding Circle – the UK’s leading peer-to-peer (P2P) lending platform – of £146 million, which is less than 1%, but they are growing rapidly. The second reason is that individual investors are being encouraged to join this revolution because we are living through a period of historically low interest rates, with Governor of the Bank of England, Mark Carney suggesting that will remain the case until 2016. Against that environment, savers owning less than 2% on their deposits with banks can choose to invest them for 6%, 7%, 8% or more depending on their risk appetite in debt investments. Thirdly, the Government has implemented policies to drive capital towards SMEs, both directly and indirectly, via a number of interventions including guarantees, funding schemes, co-investment schemes and tax incentives, which

money

The Funding Expert T

Vive la revolution, says funding expert, Julian Smith. He says the UK is once again leading innovation in the financial sector themselves generate an income tax credit of up to 50% on the amount of an equity investment. These interventions, while hideously complicated, are designed to take effect across the spectrum of smaller companies at different stages in their life cycle.

Thirdly, the Government has implemented policies to drive capital towards SMEs both directly and indirectly

THE PEOPLE’S CHOICE In the past, savers would give money to the banks, that would on-lend that money to businesses at a higher rate, earning the spread in the middle, which, after paying their costs, would either dividend out their profits, or retain them to grow their businesses. Today, while banks compete for deposits keenly, savers have the choice of building their own portfolios using the specialist peer-to-peer lending and crowdfunding platforms. As an individual investor, you can choose the sector, the management team, investment story, asset class and quality that suits your preferences. OPTIONS FOR BUSINESSES The alternative funding market is growing rapidly. There are about five meaningful equity crowdfunding platforms in the UK and more than that providing P2P lending to businesses, with certain platforms specialising in trade, invoice or asset finance. Not all platforms are made equal. I would recommend that companies thinking of using them assess their credibility, track record and liquidity. The

Financial Conduct Authority is currently looking into the equity crowdfunding platforms with a view to their regulatory responsibilities; only some of them are regulated today. While some malign this intervention, I believe it will be good for the health and longterm sustainability. The UK is once again leading innovation in the financial sector. I would advise both businesses and investors to do their homework and to join the revolution. Julian Smith is The Funding Expert, offering workshops, consultations and public speaking on finance. He has been advising companies for more than 18 years on how to position themselves for investors, raising business finance, mergers and acquisitions.

Contact: thefundingexpert.co.uk

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25/09/2013 13:40

For businesses Types of Commercial Debt we may be able to help with:

• Business Premises Mortgage/ • Tax Related, HMRC Rent Arrears • Unpaid Invoices • Secured and Unsecured Loans • Hire Purchase Debts • Dishonoured Contracts/Agreements • Credit reports for company’s and individuals • Commercial Rates Bills • Insurance Cases

Debit Chain Resolution:

• “I can’t pay you, I’ve not been paid yet myself!!!” How many times have you heard this or a similar phrase?

Monetary Solutions:

• Typical PCS collection types • Invoice payments collection

• Property rental income • Charitable contributions • Private School and University fees

Legal Retainer:

We want to be the first port of call when you have a legal question relating to your business. We understand that you don’t want to worry about the cost of unexpected legal advice. We have the perfect solution: our legal retainer. GAC Legal & Consulting provide a legal retainer package which gives clients the opportunity to keep the cost down without incurring any high legal fees.

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27/09/2013 09:52:58

who owe money

LUTON: 01582 344 516 LEICESTER: 0116 288 8550 M: 07917698323

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gac-ltd.co.uk 27/09/2013 09:53:00

Sitting on a fortune? Mark Tighe, managing director of capital allowances company Catax Solutions, reveals why you might have thousands of pounds in unclaimed tax rebates

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27/09/2013 09:40

CAPITAL ALLOWANCES

n the current economic climate, it’s no great surprise that small businesses like yours are striving to keep costs to a minimum each year and make every penny count. After a heady and glorious summer last year with the Jubilee and Olympic celebrations giving a much-needed cash injection, the UK is still heavily reliant on an economy that has been stretched to breaking point by the financial crisis and inflation. While times are undoubtedly tough for SMEs, that may be sacrificing staff, technical equipment and even office space, it does not have to spell disaster. Why? Due to unclaimed capital allowances, small to medium-sized businesses could be due a significant tax rebate from the Inland Revenue. And after the UK narrowly escaped a triple dip recession, a windfall could be just the ticket for them in these straightened times.

WHAT ARE CAPITAL ALLOWANCES? In short, capital allowances are a form of tax relief available to anyone who incurs capital expenditure buying, building or refurbishing commercial property. Put simply, they are a means of reducing your tax bill. Research carried out by chartered accountant Deloitte has shown that more than nine in 10 UK commercial property owners will be owed a significant tax rebate in the region of thousands, or even tens of thousands, of pounds. Here at Catax Solutions, we have estimated the amount of capital allowances that is currently sitting unclaimed within commercial property to be in the region of £70 billion. WHY ARE CAPITAL ALLOWANCES NOT ON THE RADAR OF MOST SMALL BUSINESSES? Most people, let alone small

business owners, are completely in the dark about what capital allowances are. That’s largely because they are an incredibly obscure area of tax, and with an £11 billion deficit, it’s not surprising that the Inland Revenue hasn’t been going out of its way to promote them! In addition, it simply isn’t the area of expertise of the trusted accountants of small businesses to investigate the unclaimed capital allowances that can be found in these properties. In fact, it can be incredibly difficult to identify qualifying items within commercial premises, such as office blocks, car showrooms and dental surgeries. Rather, accountants enlist the help of capital allowances specialists to carry out in-depth forensic surveys of properties, using thousands of detailed matrices to uncover qualifying assets and their value. In a typical office, this might include heating systems, lighting and security systems, pipework and drainage, among other embedded features, which capital allowances specialists like to call the “intrinsic fabrication”. Privately owned businesses will be only too familiar with the cost of fitting these items, given the need for extra electronics, lights, sprinkler systems and plumbing on each office floor. GETTING RESULTS Put into practice, acting on behalf of a privately owned school, Catax Solutions recently uncovered almost £150,000 in capital allowances. And to give an idea of the items identified and where rebates were owed, this was broken down to include £6,000 for disposal and drainage installations, £20,000 for water installations, £59,000 for heating installations, £31,000 on ventilation installations, £14,000 for

Capital allowances are a form of tax relief available to anyone who incurs capital expenditure buying, building or refurbishing commercial property

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electrical fittings and more than £20,000 for fixed internal fittings. So clearly there are significant savings to your tax bill to be made. Better still, Catax Solutions will only charge a fee if it is able to identify a sizeable amount of unclaimed capital allowances. All in all, it’s worthwhile investigating to find out whether you have a claim. Catax Solutions has worked with a number of different businesses in a variety of different sectors. Another recent example of a successful sector case study was in the hospitality industry, with Catax Solutions successfully uncovering a staggering £400,000 in capital allowances in an independent hotel of 74 bedrooms. YOUR RIGHT Whether you’ve considered investigating them or not, capital allowances are your right and not a privilege; if you own your business premises and/or have made significant improvements to it, you deserve the tax benefit. And for owners of businesses, such as hotels and private or independent schools, who have dealt with the effects of the recession for the last few years, a tidy sum from the Inland Revenue would be a great advantage. Contact: cataxsolutions.com

Quick read > Capital allowances are a form of tax relief available to anyone who incurs capital expenditure buying, building or refurbishing commercial property. > Nine in 10 UK commercial property owners will be owed a significant tax rebate in the region of thousands, or even tens of thousands, of pounds. > Capital allowances are your right and not a privilege; if you own your business premises and/ or have made significant improvements to it – hire a specialist to help you unlock this money.

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27/09/2013 09:40

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11/09/2013 10:16

START-UP LOANS

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A day in the life

This month our Start Up Loan recipient Gemma Hopkins reveals an average day in her events company

emma Hopkins, is founder and creative director of Chapter 7 Extraordinary Events, which launched in June 2013. The company plans both single day events and multi-day extravaganzas, in the UK and further flung. Each event is imaginative; taking guests on a journey from the moment they receive their fantastical invitations.

DEAR DIARY… I wake up, pull my trainers on, and immerse myself in an upbeat playlist, kick-starting the day with a 45-minute run. After I get ready I write down the most important tasks I need to accomplish by the end of the day. I then respond to emails.