Island Business Magazine, December / January 2010 by TKZ Media Ltd

Finance

The life blood of business

Also in this issue... YOUNG CHAMBER

THE COST BURDEN

COMPANY PROFILE

CHAMBER MATTERS

It began on the Island and is now a national network – and it’s busy incubating our future business talent

We look at the cost burden on British businesses due to government and EU regulations – you will be shocked!

Simples! We meet the animals and humans at Seaview Wildlife Encounter and see what makes it special

Reporting on the Chamber’s Business Awards for Excellence, new members, plus new dates for your diary

24A Park Road, Ryde, Isle of Wight, PO33 1HH Tel No: +44 (0)1983 568660 Fax No: +44 (0)1983 812429 info@corporatefurniture.co.uk www.corporatefurniture.co.uk

Corporate Furniture have been manufacturing bespoke interiors and furniture at our Ryde workshop using our own fully skilled craftsmen and the best quality materials for both corporate and private clients since 1997.

We are always pleased to meet with prospective clients to discuss new projects and offer any advice and assistance required.

CONTENTS

DECEMBER 2009 - JANUARY 2010

President’s foreword

ello and welcome to the combined December and January edition of Island Business magazine and may I take this opportunity, on behalf of all of us at the Chamber, to wish you an enjoyable festive season and a successful New Year. Inside this edition there is a feature on Young Chamber – an incredible initiative created on the Island by our Chief Executive and now rolled out as a national program. The primary aim is to begin to engage young people with employers and to think about a variety of career paths early in life. From my personal experience, not only do the youngsters benefit from this process, but it can have a very positive effect on the business people that take part. With the economy showing improvement, one group that we must not take our eye off are those who have finished education and training but are struggling to find any sort of work. If we are to avoid creating a whole generation of lost potential, more schemes need to come forward (with the willing co-operation of businesses) to find meaningful employment with real prospects. Not easy to do in these challenging times, but a vital investment for the future. In the modern world of global commerce, self-employment is becoming a more attainable goal and support given to fledgling entrepreneurs can transform micro businesses into those that employ staff and then, by extension, support others in the business community. The Isle of Wight Lottery (created and run by the Chamber) uses all of the surplus funds generated to provide ‘soft’ loans to new businesses and, since it started eight years ago, has created and supported 900 new jobs on the Isle of Wight. The more players that we can attract, the more funds and support are available so, please, take the time to find out about playing the Lottery and give yourself the chance to win a £2,000 prize while helping to develop the local economy. I like to give you little snippets of life in the Porter household and back in September we bought a small coop and acquired two rescue battery hens who settled in really quickly. Two fresh eggs a day are very welcome and they’re more fascinating to watch than most TV channels. The downside is letting them out of the coop at first light (thank heavens the clocks changed) because of their raucous shouts and our back lawn now resembles a WW1 battlefield! By the time we’ve built a permanent space for them, rebuilt the garden, fed them with scraps and treats, each egg will probably cost about £10.00! However, I still thoroughly recommend the experience to anyone with a bit of space in their garden. As usual, too many words, so time to finish up by again wishing you all the very best.

Steve Porter, President IWCCTI

NEWS A round up of business news

WHO’S THERE TO HELP? Understanding the network of business support organisations available to Island businesses

11 THE EXPERT’S VIEW Information and communication technology

FEATURE Finance – the life blood of business

15 THE EXPERT’S VIEW Money matters

YOUNG CHAMBER Incubating future business talent – from an Island beginning to a national network

19 THE EXPERT’S VIEW Legally speaking

THE COST BURDEN The cost burden of regulations on business – how much!

24 Published by The Knowledge Zone Ltd

Contact the team ib@theknowledgezone.net

Editor Steve Sleight

Administration and enquiries Tanya Sleight

Art Editor Karen Holloway Editorial team Louisa Mamakou Zara MacAlister Sara Coombes

TKZ

tanya.sleight@theknowledgezone.net

Advertising Sales Amanda Bartlett amanda.bartlett@theknowledgezone.net

0118 934 4208 For IW Chamber Editor (Chamber) Kevin Wilson kevin.wilson@iwchamber.co.uk

Managing Editor (Chamber) Zoe Stroud

While every care has been taken to ensure the accuracy of Island Business magazine the publishers do not accept any liability or provide any guarantee that the information is accurate, complete, or up to date. The publisher and its employees and contractors have used their best efforts in preparing these pages and this publication but make no warranty of any kind, expressed or

implied, with regard to the information supplied. The views of contributors do not necessarily represent those of the publisher or the IW Chamber of Commerce. The Knowledge Zone Ltd. and its employees and contractors shall not be liable in the event of incidental or consequential damages in connection with, or arising out of, the providing of the information offered here.

www.islandbusinessonline.co.uk

It’s the end of the first decade of the 21st century. How was it and what will the next ten years bring us?

For more great content visit

www.islandbusinessonline.co.uk Contact TKZ The Knowledge Zone Ltd. 5-9 Baring Chambers 13 Denmark Road, Cowes Isle of Wight PO31 7EX 01983 245505 ib@theknowledgezone.net www.islandbusinessonline.co.uk Isle of Wight Chamber of Commerce Mill Court, Furrlongs, Newport Isle of Wight, PO30 2AA 01983 520777 chamber@iwchamber.co.uk

Island Business magazine is printed by Crossprint, an ISO 9001 registered printer based on the Isle of Wight.

COMPANY PROFILE Seaview Wildlife Encounter – it’s a wild life!

CHAMBER MATTERS Reporting on the Business Awards for Excellence, dates for your diary and lots more.

To join the Chamber call 01983 520777 Island Business magazine is printed on 75% recycled paper and 25% from sustainable sources

THE CHANGING DECADE

THE BACK PAGE RUBS – Really Useful Business Stuff – plus Steve Blamire’s musings on choosing a beard trimmer, together with Rupert Besley’s unique perspective 1

THE STARTING LINE BY THE EDITOR

elcome to the end of year edition of Island Business Magazine, and thank you to all who have given so much positive feedback on our first issue and the new website, Island Business Online.

If you haven't visited our online title yet, we think you'll find it worth a look. We update Island, national, and international business news daily, and provide realtime stock market indices and currency rates. All the stories in the magazine are online, along with video reports that expand on the stories and feature many Island businesses and organisations. There's a growing Business Directory which, with your help, we’ll develop into a valuable business-to-business resource. In this issue we take a look at the fundamental business requirement – finance. As the team here at TKZ are quickly discovering, researching features like this on the Island quickly throws up all sort of interesting businesses and people. This month we again met with people passionate about their businesses and found companies busy creating new opportunities despite the recession. Thankfully, even in a downturn, these companies have found access to finance in several different forms, via loans, grants, investment – and even from banks! Also in this issue, you'll find out just how much government regulations cost you, we explore the business support network available to Island companies, and take a look at the growth of the Young Chamber network from its Island beginnings. And if that's not enough, we look back on the first decade of the 21st century, and forward to the next, helped by the thoughts of some invited guests. Our February feature will look at Island produce – if you’d like to contribute do please get in touch. Finally, we wish all our readers a happy and peaceful Christmas and a much improved New Year! Contact the editorial team at: ib@theknowledgezone.net or telephone 01983 245505. Visit Island Business Online at: www.islandbusinessonline.co.uk

IN THE NEXT ISSUE FEBRUARY 2010 Published 2 February • Island grown – produce from a green Island • Travelesafe – encouraging safer travel • The Business Plan – how to ensure yours is fit for purpose • Company Profile – The Royal Hotel • Chamber Matters All the latest news from the Isle of Wight Chamber of Commerce 2

THE BUSINESS MAGAZINE FOR THE ISLE OF WIGHT

DECC invites applicants for bio-energy infrastructure grants

armers, foresters, and local authorities in England can now apply for grants to help develop the supply of biomass, such as wood chips or energy crops like miscanthus, through round three of the Bio-energy Infrastructure Scheme. Energy and Climate Change Minister, Lord Hunt, said: "We need to encourage business to invest in renewable energy. We have a target to get 15% of all energy from renewable sources by 2020, and biomass can make a significant contribution.” As with previous rounds, the objectives of the scheme are to increase renewable energy generation and reduce greenhouse gas emissions, while contributing to

sustainable land management. The scheme provides grants to help the development of the supply chain needed to harvest, process, store, and supply biomass to heat, combined heat and power, and electricity end-users. The scheme is restricted to projects based in England and is open to businesses, local authorities, and charities. Grants are available for projects which complete by 31 March 2011. The deadline for receipt of applications is 26 February 2010, although applicant projects will be assessed on a rolling basis as they are received. For application forms, guidance and all information on the scheme, call 01355 593800 or email help@beis.org.uk

Forceful measures needed to end recession

he latest figures from the Office for National Statistics show that UK gross domestic product (GDP) fell in the third quarter by 0.3 per cent compared with the previous quarter. The volume of output in the production industries fell by 0.8 per cent, within which manufacturing fell by 0.1 per cent. Gross value added excluding oil and gas fell by 0.2 per cent over the quarter. Output of the service industries decreased by 0.1 per cent while construction output is estimated to have fallen by 1.1 per cent. Commenting on the revised GDP figures for Q3 2009, David Kern, Chief

Economist at the British Chambers of Commerce (BCC), said: "We continue to lag behind other major economies. The small rise in exports in the quarter is welcome, but is less than many anticipated given the recent growth recorded in other European countries. "The Government and Monetary Policy Committee (MPC) must take urgent action to end the recession. This should focus on sustaining demand and removing the obstacles restricting companies’ ability to invest and grow. Next month’s Pre-Budget Report will be a perfect opportunity to announce some of the most pressing measures."

Community action wins a Nokia Christmas

ublic reaction to phone company Nokia’s exclusion of the Island from its Christmas party competition resulted in the Island topping the polls. Initially, public and media outcry resulted in a change of heart by the mobile phone giant and then the use of social media and the efforts of the Island's media to promote the vote saw the Island winning its Nokia Christmas party. Isle of Wight MP Andrew Turner, said: "After Nokia changed their stance we only had a few days to get our votes in, so it is a real testament to the community spirit here that we won the largest number of votes in the south.

"We are fortunate to have a vibrant, local press who brought this to public attention." IW Council leader Cllr David Pugh, said: "This is great news and demonstrates what great community spirit there is on the Island. “The Council has already begun working with Nokia to make the event one to remember. It promises to be a terrific family event and one which the Council, and I am sure residents, will be keen to support." The ticket only Nokia Christmas event will be on Wednesday, 16 December, at Seaclose Park in Newport, and will include reindeer, elves, food and drink, and eight tonnes of synthetic snow, all in the setting of a Finnish market.

Merry Christmas and a very prosperous New Year to all our readers

NEWS

DECEMBER 2009 - JANUARY 2010

Cowes Yacht Haven submits new plans

owes Town Waterfront Trust, owners of Cowes Yacht Haven has submitted a new planning application for the development of the marina in the centre of Cowes. The Trust initially consulted the public about development plans in March 2008 and received significant feedback. Now, the new planning application has taken into account the comments from the local community with one of the major changes being the removal of the proposed hotel development. Felix Hetherington, Chairman of Cowes Town Waterfront Trust, said: “Our initial consultation in March 2008 gave us a great opportunity to see what the local community thought of our first proposal. We listened carefully and took all of their comments on board while drawing up our revised plan. We now believe we are in a position to submit this new plan, which provides a fantastic opportunity to improve radically facilities at the Yacht Haven, benefiting boat owners, visitors, businesses, and the Island as a whole. As a charitable trust we are dedicated to

continually maintaining and rejuvenating the waterfront and we believe that by carrying out these works we can keep world-class events coming back to Cowes.” If the Council gives its approval to the plans there will be more space for events such as Cowes Week and RIBEX. Tenant buildings affected by the development will be replaced with new, purpose-built, and affordable buildings. The Trust says it will also be able to expand the dry sailing fleet and there will be more room for winter boatyard facilities. The plans aim to integrate the Yacht Haven with the town and make it more accessible by creating a new pedestrian route from the centre of the High Street, making it easier to walk straight off the street and into the Haven. The Trust hopes to start building the new entrance and tenant units in winter 2010. There will then be a rolling programme for the rest of the works, which will fit in around annual events taking place at the Yacht Haven. To find out more visit www.cowesyachthaven.com.

Blossoming business

icola Downer’s floristry business is blossoming to the extent that she has taken on bigger premises, and has even bigger plans for the future. 'Flowers by Nic' moved from High Street to Union Street, Ryde, and the extra space means Nic can branch out into garden accessories, expand the choice of flowers and gifts, and host larger flower arranging classes. Floristry is a lifelong passion, and Nic attributes her success to her enthusiasm, her modern and creative ideas, and to the fact that every bouquet is unique, whether that is for a corporate or private customer, a wedding or a special event. “The move here has worked well for us,” she said. “I am already thinking about further plans for expansion, but that can wait until we have consolidated our position here.”

Two good events for Young Chamber

Reduction in anti-social behaviour

ackling anti-social behaviour remains a top priority for the police after a reduction of more than 600 incidents across the Island between July and September, compared to the same three months in 2008. The Sandown Bay Safer Neighbourhoods team patrolled Culver and Bembridge Downs to confiscate alcohol from groups of people, after reports of unwelcome activity on National Trust land. Police Community Safety Officer Stuart Woods worked with students, parents, local schools, the National Trust, the Sandown & Shanklin Lions Club, the Sandown & Lake Observers, and the Council to organise clean up operations. www.islandbusinessonline.co.uk

PCSO Woods said: “Groups of people with alcohol near tall cliffs was not a good mix for their safety, and there is a minority who need to understand how their behaviour can affect the protected natural environment. “Mattresses, tents, clothes, and aerosol cans were among the items found discarded and burnt. This project is all about the community working together to increase awareness and respect for where we live.” Police encourage people to report antisocial behaviour by phoning 101, or in an emergency, 999. Find out more about your local Safer Neighbourhoods team at www.hampshire.police.uk.

oung Chamber students at Medina and Cowes High Schools opened their doors to expertise from two very different sources last month. Students at Medina invited two employees from the Isle of Wight Fire Service for a question and answer session to find out more about opportunities within the Fire Service. They wanted to know about the opportunities available for women. Martin Poynter, Youth Engagement Officer, and Claire Holbrook from Red Watch answered the students’ questions. Meanwhile, Cowes students were supported by Business Link and UKSA in their attempt to qualify for the regional final of the Make Your Mark Challenge by developing detailed proposals for an ‘eco youth club’. Young Chamber Officer, Laura Morris, said: “Both Young Chambers had their eyes opened and learned so much from the involvement and support of local employers.” 3

NEWS

THE BUSINESS MAGAZINE FOR THE ISLE OF WIGHT

Taking the prize – again

KN customer support manager Glenn Fitch is celebrating his second win on the Isle of Wight Lottery. Glenn, who is building his own house off Forest Road, Newport, won £100 two years ago but is now the proud winner of the top prize of £2,000. And it has come at just the right time. Glenn said: “We have spent just about everything on the new house, so supporting the Isle of Wight Lottery has certainly paid off for me. Now, this win means we’ll be able to buy some of the finishing touches we need, including curtains!” Glenn has been a Lottery ticket holder for about six years, and took the chance to pay for his weekly ticket through the

Call for businesses to help promote health screening

usinesses can play their part in promoting breast screening, thanks to the partnership between Chamber Health and the Island NHS. Mary Seymour, a clinical nurse specialist in breast care at St Mary’s Hospital will be joining the Chamber Health mobile screening unit to offer advice and answer questions on breast awareness and breast screening. Mary said her aim is to help increase the number of women attending breast screening: “After looking to see if there was a specific group that do not appear to be coming forward for screening, it appeared numbers were higher among women aged 50-53 years old. These women are most probably in employment and may find it difficult to come to St Mary’s Hospital. “I would appreciate information regarding whether women are allowed to attend breast screening during work hours, and if this is not possible would an appointment in the evening or at weekends be more appropriate? “In some instances we could arrange a block screening session if women are registered with the same GP.” Businesses are asked to spread the message among their female employees, and to consider inviting the Chamber Health mobile screening unit to attend to carry out healthy heart checks, and breast screening. Contact Mary Seymour on 01983 534562 or mary.seymour@iow.nhs.uk 4

payroll scheme operated by GKN and other Island businesses. The Isle of Wight Lottery – a division of the Island’s Chamber of Commerce, Tourism and Industry – operates on a nonprofit basis, and all proceeds are directed into a loan fund. Loan applications are assessed by an investment panel and are provided interest free to start-up and expanding Island businesses. Since its launch in 2001, the Lottery has paid out more than £900,000 in prizes to over 900 people. The IW Lottery also supports the Start up Business Training programme and through this has given support to over 500 local people entering self employment. www.isleofwightlottery.com

Supplying the finishing touches

ules Gregory, who runs the Finishing Touches wedding accessories hire business in Newport, was able to put her expertise to good use – for her own wedding. Jules, who opened the business last year, married Richard – who runs Nostalgic Carriages wedding car hire – two months ago, and decorated the marquee with her own products, including chair covers, seating plan displays, and table decorations. It was a perfect day, and a perfect way of testing out her own products. Jules said that Finishing Touches is proving a success, with more than 80 weddings supported in her first year, and bookings still coming in. “The idea for the business just came as a brainwave,” she said. “People love the idea that they can just hire what they need to make their wedding special, instead of buying things they have no intention of keeping.” The trend towards adding personal touches to weddings means

that Jules is always kept on her toes. "Some people want themes around the jobs they do or the country they love," she said. "But so far, we’ve always been able to find exactly the right thing!" www.finishingtouches-hire.me

Christmas fun in Ryde

usinesses in Ryde banded together to create a fun atmosphere in the town as part of the run-up to Christmas. One of the highlights was the Ryde Festive Fun Day on 5 December, including a farmers market, street entertainment, carol singing, African drummers, food, and a whole lot more, all topped off with a lantern parade and a fireworks display. Liz Normanton, of Bear Necessities, said: “I came up with the idea of having

something going on in town last year to cheer everybody up during the first winter of the recession. We have learned lessons from it, and this year’s event was much bigger and better. Now we are hoping it will become an annual event – and possibly grow to two days. “The aim of the day is to provide shoppers with a wonderfully positive experience of how Christmas shopping can be fun. It was great to see so many people entering into the spirit of it.”

Merry Christmas and a very prosperous New Year to all our readers

Isle of Wight College Sixth Form Prospectus design & print Advertising concepts & design Multi-media advertising

Allthe right ingredients to Add flavour to your print,web & Multi-Media

West Wight Landscape Partnership Literature design & print Website design & build Advertising

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ADVERTISEMENT FEATURE FROM PAUL JONES INSURANCE SERVICES LIMITED

A new Island office Paul Jones Insurance Services Ltd is a firm of Independent Insurance Brokers and having been based in Southampton since 1973, they have recently opened an office in Cowes on the Isle of Wight.

im Sanders, and Amanda Robertson, formerly of Vectis Insurance Brokers have joined the Paul Jones Insurance team and they are delighted to be back helping businesses and residents on the Island. Tim is an Account Executive for Paul Jones Insurance. He really enjoys meeting clients and helping them with their requirements, but is surprised by how little is known about what insurance brokers can do. Tim said: “Clients are most interested in the ‘bottom line’ premium and in this economic climate that is understandable. www.islandbusinessonline.co.uk

“However, whilst cost is important, I’m not convinced that enough consideration is given to the cover purchased, whether any help is available after the sale, or what claims service is provided should it be needed.” As professional insurance brokers, we want to ensure our clients are confident with the insurance they buy and also with the added value we provide and so Tim asks….. Does Your Insurance Broker Do This? ! Meet you at your premises to agree what to insure ! Discuss the quotations and cover available so you

understand what you are buying Provide you with an easy to read summary of your insurance arrangements Meet with an insurer’s surveyor to agree costeffective risk control and avoid unnecessary expense Help you with any claim and meet with an insurer’s loss adjuster to ensure your interests are protected Always available to help with any queries or amendments Work as one of your Business Partners – helping protect your business interests in a long term relationship

If your broker is not doing all this and more, do give us a call – we are here for you and we would be delighted to help. Contact: Paul Jones Insurance Services Ltd. Number One The Parade, Cowes PO31 7QJ Tel: 01983 210008 iowadvice@pjis.co.uk www.pjis.co.uk

NEWS IN BRIEF Waitrose comes to East Cowes The application for a new Waitrose store in East Cowes, Isle of Wight, has been given the go ahead by the IW Planning Committee. Isle of Wight Council Deputy Leader, George Brown, said: "I welcome the fact that the application to construct a Waitrose store in East Cowes has been approved. "The Island will now get another major brand name which will undoubtedly boost the economy both in East Cowes and across the Island, as well as bringing in much needed employment during both the construction and operating phases." E-tail gives retail a helping hand Thousands of small high street businesses have ensured a brighter outlook by establishing a presence online, according to an eBay survey. The findings of eBay’s third Online Business Index demolish claims that online retail is responsible for the decline of high street business. The majority (79%) of bricks and mortar firms believe the introduction of online trade has saved their business. Furthermore, four fifths (80%) of onlineonly SMEs believe that bricks and mortar businesses are rendered more sustainable by having an online offering as well. Fall in business investment Business investment for the third quarter of 2009 was down by 3.0 per cent compared with the previous quarter; but compared with the third quarter of 2008, business investment fell by 21.7 per cent. Commenting on the preliminary business investment figures for Q3 2009, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said: "The further decline in business investment highlights the challenges and risks facing the economy over the next few years.” For information visit: www.statistics.gov.uk London 2012 on target New official data published by the Government and Olympic Delivery Authority (ODA) confirms that preparations for London 2012 remain on time and within budget. Figures show a small rise in the Anticipated Final Cost (AFC), up by £7 million to £7.241 billion during the last quarter, equivalent to an increase of less than 0.1 per cent. More than 1,000 UK businesses have won direct contracts from the ODA; part of £5 billion worth of contracts, creating thousands of business opportunities throughout the supply chain.

THE BUSINESS MAGAZINE FOR THE ISLE OF WIGHT

Plugging a skills gap

Newport company has taken positive action to plug a significant skills gap which is particularly important for the marine industry. South Fabrications, based at Dodnor, has established a training school with the aim of producing top quality coded welders, who are in short supply in the region, partly because the market for superyachts has increased. Twenty-four trainees – almost all of them former Vestas employees – are learning through a combination of classroom study and practical experience, thanks to a partnership between the company and the City College in Southampton. And demand from business is already clear. Although the course only began a few weeks ago, two major shipbuilding companies have already asked for ‘first refusal’ of the trainees who qualify.

The training is the brainchild of South Fabrications commercial director Rob Stewart, who is working with course tutors Reynold Bertley and Pete Burnan. He said: “We have been trying to get this off the ground for three years and it felt like no-one was really interested, despite the urgent need for top-end welding skills. “It is great that we were finally able to find a willing partner in the City College, through which we now provide training on a franchise. Trainees split their time between our company and the college, and Red Funnel has been fantastic in providing discounted travel for the students.” Rob said the course, which is receiving financial support as part of the Vestas recovery programme, was being treated as a pilot scheme. “If we pull this off, we could be looking at the scheme being adopted internationally,” he said.

Could your life story become a book?

y Story is a new project from the BBC which is looking for remarkable true stories of ordinary people that could be turned into bestselling books. Within the business world, your story might be one of rags to riches, losing everything and starting again, inventing something incredible, overcoming great challenges and turning your life around, doing something inspirational within the business community or something else altogether. Fifteen people's stories will be told in a major new five part series to go out next

year on BBC1. Five of these people will win book deals plus a cash advance of £20,000. My Story is not a writing competition as the winning stories will be ghostwritten by the publisher Harper Collins. But if your story is chosen, your name would appear on the cover of your own book. Applications should be made via the website: www.bbc.co.uk/mystory where you can add a summary of your story in no more than 1,500 words. Act soon,though, as the closing dates for entries is 16 December.

Merry Christmas and a very prosperous New Year to all our readers

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NEWS IN BRIEF It's Up2U Young people in the West Wight have until 23 December to bid for a share of £20,000 to develop local community projects, through a pilot scheme called Up2U. Young people aged between five and 19 are asked to suggest schemes or projects in Totland and Freshwater next year that will make a difference to the eating habits of their friends and families. For further information on the scheme, contact the Up2U project manager, Astrid Davies, on 01983 823804 or at astrid.davies@iow.gov.uk or visit the website www.eco-island.org.uk/ip2u DfT enquiry into Bembridge Harbour dues Bembridge, on the Isle of Wight is thought to be the first harbour to be subject to a public enquiry under Section 31 of the 1964 Harbours Act. Following an increase in harbour dues in 2006 the Bembridge Harbour Users Group (BHUG) submitted an appeal to the Department for Transport (DfT). Three further appeals were submitted covering 2007, 2008, and 2009. Now, DfT has decided that a public enquiry should be held to investigate the situation. BHUG expects that this enquiry, which may last for two weeks, will be held in Bembridge in January 2010 although the date has yet to be confirmed. Gurit develops composite bridges A new footbridge over the Preston to Blackpool railway line was built on the Isle of Wight using composite technology developed by Gurit. The installation was part of a move by Network Rail to trial the use of composite materials. The new bridge, which will be virtually maintenance free over its expected 60 year life, was built by AM Structures, a Gurit company. Because of its light weight it proved to be easy to transport from the Island to its final resting place near Blackpool - and took only six hours to crane into place. Island students take the prize Students from the Island’s Christ the King College cruised into a winning position at a regional enterprise event last month. The team of year 9 pupils won the top prize – a day aboard a cruise liner – after pitting their skills against 15 other school teams from the region under the theme of languages in business. The challenge, held as part of the South East Regional Enterprise Conference, at the QE2 Cruise Terminal in Southampton, was based on a real situation facing cruise companies – how to improve the social experience at cruise terminals and on board cruises for passengers of many different nationalities. 8

THE BUSINESS MAGAZINE FOR THE ISLE OF WIGHT

Tell the world you love Ryde

he number of people and businesses who can tell the world how much ‘I Love Ryde’ is rapidly increasing, thanks to a website of the same name. Since its launch in May, the site has been featured in national and regional magazines, and its seagull branded postcards have been sent all over the world. The site is the brainchild of Laura Jennings, who owns the Crocus shop in Ryde. Laura wanted to promote the town to a wider audience, and worked with Eve Design to design and build the site. Laura said: “People have been saying, I love Ryde for some time! Now, well over one million people have had the chance to see an advertisement for the website, so we are hoping some of them will come for a real visit as well as an online one.” Promotion and advertising is funded by the fee businesses pay to have a

presence on the site. Now Laura is looking to extend the concept to include some of the towns and villages near Ryde. www.iloveryde.com

Flagship park at Gurnard

urnard Pines will become one of five flagship parks for holiday company Hoseasons in 2010. It is also launching Go-Active Breaks to capitalize on the increasing interest in sports and activities in the run-up to the Island Games in 2011 and the 2012 Olympic Games. There are five categories of Go-Active Breaks on offer: • Ready Steady Go: a programme for children to enjoy swimming, cycling, and a FUNdamentals (for under sixes) programme supported by British Gymnastics. • Go Wild: adrenalin-pumping activities including high rope courses and sailing.

• Go Pro: professional coaching in archery, fencing, table tennis and snorkelling. • Go Discover: opportunities for horse riding and mountain biking. • Go Slow: more leisurely activities including short mat bowls, petanque and sports massage. "Gurnard Pines is committed to providing opportunities for our holidaymakers to have a more active holiday,” said Kevin Darvill, Sales and Marketing Manager at Gurnard Pines. “The great range of activities on offer will help our guests to make those small changes which lead to a healthier and happier lifestyle."

READERS RESPOND Michelle Warner, Marketing Director of Cowes Week Ltd responded to the article on OC Group in the November issue and the comments about the iShares Cup which took place during Cowes Week. Michelle wrote: "Cowes Week Limited and the Isle of Wight Council have had a number of discussions with OC Events regarding next year’s Extreme 40 Sailing Series. Early discussions have been positive following the success – for all concerned – of the 2009 event which was held during Cowes Week. At the current time, there are a number of considerations that need to be factored into these ongoing discussions which we will continue to work through, but the desire to reach a mutually beneficial arrangement for all parties in 2010 is most certainly the end goal." Merry Christmas and a very prosperous New Year to all our readers

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Jobs@Pertemps, business as usual Tel: 01983 533 235

34 The Mall, Carisbrooke Road, Newport, Isle of Wight PO30 1BW

Manufacturers of Oak Framed Buildings By utilising our in-house carpentry team, we are able to both manufacture and erect Oak framed buildings to your personal specification. Our buildings are not mass produced standard designs, instead they are substantial, finished to perfection and with every joint hand crafted and fitted. We will be more than happy to discuss all aspects of the project with you. All our Oak frame buildings are engineered and can be incorporated into any timber frame structure.

New full colour brochure NOW available For a free site survey and estimate please call

01983 522188

email: sales@gibbstimberframe.co.uk website: www.gibbstimberframe.co.uk www.islandbusinessonline.co.uk

WHO’S THERE TO HELP

THE BUSINESS MAGAZINE FOR THE ISLE OF WIGHT

Let’s face it, we could all do with a helping hand occasionally, and that’s just as true when you’re in business. Starting and running a business can be full of excitement but it can also be a process with lots of traps and tripwires to catch the unwary. That’s when you need a helping hand.

Who’s there to help? RURAL BUSINESSES SEEKING PROJECT FUNDING CAN START HERE RURAL

IWEP The Isle of Wight Economic Partnership is an independent, not-for-profit company that creates links between the public and private sector. It aims to support and develop the Island’s rural economy and has funding streams available to support rural Island communities.

SEEDA SEEDA is the Regional Development Agency for the South East of England, which includes the Isle of Wight. SEEDA’s brief is to support the economic development of the region. This includes attracting inward investment, helping businesses reach their full potential and working with partner organisations. www.seeda.co.uk

SECTOR SUPPORT MARINE SECTOR MARINE SOUTH EAST Marine South East is the regional marine initiative of the South East of England Development Agency (SEEDA) developed to address the needs of the marine sector in the South East region.

IWEP manages the LEADER fund of £2.6 million made available to help boost the Island’s rural economy. The money is available to farmers, growers and other rural based businesses including those involved in the tourism sector and rural communities. Applications are selected on a competitive basis.

www.marinesoutheast.co.uk

COWES MARINE CLUSTER

A division of the Chamber of Commerce A maritime collaboration based in Cowes. Boat builders, marine manufacturers, equipment and material suppliers and other service providers have formed strong strategic alliances and collaborative links, in order to provide solutions to business and the best service to clients.

and loans available to Island businesses comes via SEEDA, the South East England Development Agency. Whether SEEDA will still exist if the Conservatives win power at the next election is unclear. They’ve said that they’re keen to allow councils to establish their own local enterprise partnerships to take over the economic development functions and funding of Regional Development Agencies such as SEEDA.

FUNDING

FINANCE SOUTH EAST Finance South East is the regional funding organisation, backed by SEEDA. With access to public and private resources, FSE specialises in identification, funding and development of high potential growth businesses. FSE manages a number of funds and grant programmes, including: www.financesoutheast.com

THE PRINCE’S TRUST The Prince’s Trust is a UK charity that helps young people overcome barriers and realise their potential. Run from over 300 locations around the UK, including the Isle of Wight.

COMMERCIALISATION LOAN FUND

www.princes-trust.org.uk

ACCELERATOR LOAN FUND

SHAW TRUST

TRANSITION FUND

www.iwep.com

LEADER FUNDING

ortunately, Island businesses have plenty of opportunities for help from a diverse range of support organisations, advisors, funding sources, and networking opportunities. The problem most of us face is knowing what’s available and where to start. Much, but not all, of the funding which helps create the local network of organisations and the grants

SOUTH EAST SEED FUND COLLABORATION FUND

TOURISM HOSPITALITY TOURISM SOUTH EAST Tourism South East works with tourism businesses, including more than 2,000 members; local, regional and national government; and many other key organisations throughout the UK and internationally, to support the industry and promote the region. www.industry.visitsoutheastengland.com

Shaw Trust is a national charity which supports disabled and disadvantaged people to prepare for work, find jobs and live more independently. www.shaw-trust.org.uk

FREDERICKS FOUNDATION Fredericks Foundation is a charity that helps disadvantaged people to set up, or expand, their own business as a means to achieve financial independence while rebuilding their confidence and self-esteem. www.fredericksfoundation.org

www.cowesmarinecluster.com

Merry Christmas and a very prosperous New Year to all our readers

CHAMBER INTERVIEW THE EXPERT’S VIEW

DECEMBER 2009 - JANUARY 2010

START HERE The place to start for most businesses seeking support on the Island is Business Link.

CHAMBER OF COMMERCE The Isle of Wight Chamber of Commerce, Tourism and Industry (IWCCTI) is a leading player in the Approved Chamber Network and provides a powerful voice for its members as well as a wide range of benefits including IW Lottery loans, start-up seminars, training and networking events.

INFORMATION & COMMUNICATONS TECHNOLOGY Information and communications technology is crucial to many businesses. In his Expert's View column Jonathan Thornton, Technical Services Director of Rydebased IT provider, PC Consultants will be offering his views on important ICT issues. sponsored by

www.iwchamber.co.uk

BUSINESS LINK The Business Link service is delivered locally from offices in Newport and provides access to the information, advice, and support you need. Business Link advisors can introduce you to other providers in the support network depending on your specific requirements.

LOTTERY The Isle of Wight Lottery was created eight years ago to help grow the Island economy and support local businesses The lottery is funded by the sale of £1 tickets and offers three prizes every week – £2,000, £300, and £200. All proceeds go into a loan fund, which is available to Island businesses. www.isleofwightlottery.com

www.businesslink.gov.uk/southeast

SOLENT INNOVATION & GROWTH TEAM

INBIZ

SIGT’s goal is to provide the best possible assistance to innovative entrepreneurs and high-growth businesses. SIGT comprises experienced professionals and a strong network of successful local entrepreneurs, professional services firms, and business coaches and mentors, as well as partner organisations.

InBiz works with Business Link Jobcentre Plus, and Learning and Development Councils to help individuals into self-employment and to support start-ups, microbusinesses and SMEs. It also focuses on enterprise creation and neighbourhood regeneration. www.inbiz.co.uk

www.innovationgrowth.co.uk

TRAIN TO GAIN Train to Gain offers independent skills advice at no cost to your business. The advice comes from a Business Link Adviser, training provider, or college who will help you to find the right solution to improve the skills of employees to help boost your business.

eHAMPSHIRE eHampshire is responsible for ‘driving forward the use of ICT and high speed communications in Hampshire and the Isle of Wight. The eHampshire Partnership aims to encourage businesses and communities to exploit the benefits of highspeed communications. wwww.ehampshire.org

www.traintogain.gov.uk

MARINE BUSINESSES ACCESS TO SECTOR SPECIFIC SUPPORT www.islandbusinessonline.co.uk

‘Working smarter not harder’ has always been an important business principle, increasing productivity for employees and owners alike whilst not sacrificing the balance between work and home life.

echnological advances have always played a large part in achieving these goals, and one such area is that of the mobile workforce – the ability for staff to conduct business remotely whilst outside the office whether by choice, through illness, or difficulty getting to the workplace. In 2009 we saw some of the heaviest snow in Britain for nearly 20 years, stopping many from travelling to the office. Or think of the ongoing swine flu pandemic. The Island-based company Business Forums International is a leading risk management company, which has given many pandemic flu preparation conferences. Elizabeth Smith, Director of Research, said: “With swine flu taking a grip now as we move into winter, organisations are ensuring that they have a robust policy in place to ensure that they remain in business once the pandemic has passed. Systems to ensure remote working are an integral part of any robust business continuity plan.” Whatever the reason for being kept out of the office, some form of remote working can boost productivity and help achieve business continuity. Various technologies can be used to create a mobile workforce. Traditionally this would have been built on encrypted Virtual Private Networks (VPNs) and dedicated company laptops, which allowed dial-in access to systems whilst outside the office. Companies

may also have ‘thin client’ systems such as Microsoft Terminal Services or Citrix. These can overcome issues with lack of available internet bandwidth by only sending screen updates, leaving the actual files and applications on the main server. Increasingly, though, mobile workers are avoiding laptops. Gartner predict that by 2012, half of travelling workers will swap their laptops in favour of other devices. Powerful mobile devices such as the RIM Blackberry, Apple iPhone, or Microsoft Windows phones can provide access to live push email, calendar information, and contacts in a pocket-sized device. The GoToMyPC service and competitors such as LogMeIn can also benefit mobile workers by not limiting you to a specific device. Instead, access is through a web browser and secure website, opening up potential access from home computers – Mac or PC, internet cafes, even mobile smart phones. In every situation, proper planning will ensure any remote access is rolled out securely and with the necessary procedures in place to ensure confidentially of data and avoid potential for misuse. Regardless of the size of your business or budget there is a solution to fit, that can definitely help both employer and employee. Contact: Jonathan at PC Consultants on 01983 811711 www.pcctechservices.co.uk Jonathan.thornton@pcconsultants.co.uk

FEATURE

THE BUSINESS MAGAZINE FOR THE ISLE OF WIGHT

A loan to develop hybrid power

Sandown-based Hybrid Marine Ltd is an innovative company bringing hybrid technology to the marine environment. Hybrid Marine formulated their ideas for a hybrid system in 2002 and secured a Department of Trade and Industry (DTI) Smart Award. That gave an initial boost to the company, and an 18 month research grant. Hybrid systems are new products, in an area where the market is just developing, and this was an issue when looking to attract investment. Graeme Hawksley, MD of Hybrid Marine said: "When you go to investors to obtain investment, it's difficult to prove how big the market will be. In that environment it's hard to achieve funding because everyone wants to know what is the payback, how quick, and how much." Apart from the first DTI Smart Award, the company had months of no funding, but once they proved there was demand and got orders, they were then able, through Finance South East, to obtain a Commercialisation Loan. Graeme explained: "That product is focused on people who have technology that's within a year from market and that fitted exactly with what we needed to do. "From the first discussion to actually granting the loan was about six weeks, which is phenomenally quick! "We wouldn't have been able to do it without that loan. It's a soft loan that you pay back as a percentage of sales, so it accounts for the fact that sales volume will be low in the beginning." Read more on this story and watch our interview with Graeme on Island Business Online. More details on Hybrid Marine at www.hybrid-marine.co.uk 12

Finance â&#x20AC;&#x201C; the life blood of business Access to finance is crucial for any business but the days of easy credit, eager investors, and willing financiers already seem like a distant fairy-tale. In today's bleak economic landscape how do businesses set about raising finance?

Steve Sleight and the editorial team investigate finance options for business

Merry Christmas and a very prosperous New Year to all our readers

FEATURE

DECEMBER 2009 - JANUARY 2010

deas and people are at the core of business success but however good your ideas or talented your people, your business can't function without that essential lubricant – finance. When the banking system went into meltdown a year ago companies' access to finance took a nose-dive. The funding landscape has definitely changed but, as we showed in last month's edition, there are still people determined to take their ideas to market or grow their business. Many Island businesses are pushing ahead despite the recession, so where do they raise the finance? Raising money for start-ups The main source for very early stage startup funding is savings and/or support from family and friends. Most start-ups are small operations; often they're lifestyle businesses able to support one person or a family, and the desire or potential for large-scale growth and development may be limited. Borrowing from the now riskaverse banks is far more difficult than it was, and there's not likely to be much scope for equity funding. Fortunately, there are loan and grant funds that can help small businesses on the Island. The Isle of Wight Lottery offers interest-free loans and, for younger entrepreneurs, the Prince’s Trust may offer support. Finance South East (part of the Island’s business support network, see page 10) has grants and loans that might apply and, if yours is a rural business, the LEADER funding administered by the Isle of Wight Economic Partnership could be just what you need. Funding growth All of the sources of funding available for start-ups can also be suitable for funding growth and there may be the option of seeking investment from an equity sale. Business Angels can be a source of investment for smaller business while larger ones, or those with big ambitions, may consider investment from Venture Capital funds. This option is usually limited to those seeking £5 million or more, as most VC funds won't invest less due to the costs of the process, including the due diligence exercise. One way of meeting higher funding needs is to put together a package of grant, loan and equity investment with each provider taking confidence from the involvement of the others. www.islandbusinessonline.co.uk

Borrowing from banks Everyone knows that most banks are not keen on risk right now. We shouldn't be surprised given the massive losses they've incurred on the over eager borrowing of the last decade and the cries from us all demanding they manage risk more effectively. The result has been to turn off the tap of bank borrowing during 2009 and there is little sign that the slowlending policy is easing. According to the British Chambers of Commerce's (BCC's) latest Monthly Business Survey, thirty-three percent of companies (compared with twenty percent in June) reported that accessing finance had been more difficult over the last three months. The number of firms reporting improved access to finance fell from six percent in June, to just three percent in the latest survey. David Frost, BCC Director General, said: “It is clear that the huge sums that have been injected into the financial system by quantitative easing are still not reaching small and medium-sized businesses in anything like the scale required for business to invest for future success." But there may be light at the end of the tunnel. Nick Whitmarsh, Senior Manager Commercial Banking for Lloyds TSB, agreed that: "It has been a tough year" but pointed out that demand for bank funding had dropped significantly: "People don't believe banks are lending so they don't come with a proposition in the first place. Applications are down twenty percent on where they were last year, but our overall lending growth has actually gone up twenty percent." He says that in the last three months Lloyds has lent to existing and new customers across sectors that include property development and investment, pubs, retail, manufacturing, health-care and tourism: "This year, 200 start-up businesses have opened with us and we're looking to increase that. "There's a whole suite of different elements of finance available. In the loan element we're a big sponsor of the Government’s Enterprise Finance Scheme, (EFS) which can help provide support when security is not available. One in four of the loans for the EFS have been done by Lloyds – that’s between twelve and twenty on the Island this year. "We want to see a viable business proposition; there are cases where we'll do 100% funding. It all depends upon the

Finding a helpful bank Dave Sunnock bought Fort Holiday Park in Sandown in June 2001. When he bought the holiday park it included the freehold to the pub next door. Since then the lease has changed hands twice, but it’s been too expensive for him to consider. It came up for sale again earlier this year and Dave decided to go for it: “With interest rates being so low at the moment it was a bargain to be had.” Dave managed to agree a bank loan with his then bankers and had all the paperwork ready to sign. Then Lloyds TSB contacted him to see if they could help with any of his banking. He explained the loan he was about to take out and they came back with a much better offer: “It was by far the best proposal so we literally swapped across. The interest rates were very good, and we managed to get free banking as well for both the caravan park and the pub. The money was all set up ready within a matter of weeks.” Dave plans to refurbish the pub in the new year with a new menu and wine list ready for the start of the season. Visit www.fortholidaypark.co.uk for more info and watch our interview with Dave on Island Business Online.

“It is clear that the huge sums that have been injected into the financial system by quantitative easing are still not reaching small and mediumsized businesses in anything like the scale required for business to invest for future success." David Frost, BCC Director General 13

FEATURE

THE BUSINESS MAGAZINE FOR THE ISLE OF WIGHT

Lottery support for Images Café & Deli

Revolutionary fuel can gets loan help

Dino Karabasic opened Images Café in April 2007. Being based on Newport High Street he has faced healthy competition but the business has gone from strength to strength. The café uses fresh Isle of Wight produce to make their homemade meals, and also sells a lot of local produce at their deli counter.

The innovative Flo Control fuel can is designed to make pouring fuel more efficent and environmentally friendly.

Dino received his first IW Lottery loan in 2002 when he opened Seabreeze Café in East Cowes. He applied for the second loan when he decided to open another café, Images, in 2007. Dino explained the lottery application process: “I would compare it with the Dragons Den! I had a previous experience, which helped me, and I had a good project. There were five on the board, I spoke about my business plan, they asked lots of questions, and after considering it I was told I was successful in obtaining the Lottery loan.” Although business is good for Dino he did find the first half of this year much harder financially, but things have improved: “When the height of the season arrived things started turning the corner. We have revamped the café and that has helped, with a new menu and new products concentrating on Island produce, so things have turned the corner and hopefully it carries on like that.” Watch our interview with Dino on Island Business Online. 14

Flow Control (GB) Ltd was funded initially by Director Dawn Bone and her husband and inventor Paul, but problems with their production tools left the couple looking for finance. A Finance South East Commercialisation Loan helped them reorganise their production, returning it to the UK. Speaking about the loan process Dawn said: “Whatever sort of finance you’re going for you’re always going to have to put a lot of time into the application. They want to know everything, they want to understand how you’re going to make the returns. So there’s a lot of market research you've got to put in.” Recent health and safety legislations have resulted in increased orders for the product and Dawn is sure they will have to look for more finance in the near future: “We will have to look at expanding the company and being able to produce more cans than we are at moment. We may look at angel investment or releasing equity, or we may have to go to the bank. Either way, if we want to grow the company and increase production we’re going to have to finance it somehow.” Visit www.flocontrol.co.uk for more info. Read more, and watch our interview with Dawn on Island Business Online.

track record of the individual, the viability of the business plan, and then we will look at things like security. Ultimately we would never want to lead anybody into a position where they may not be successful coming out, because we never want to realise the security." Dave Sunnock the owner of Fort Holiday Park found that he was able to secure bank support for buying the pub adjacent to the holiday park. Initially, no bank wanted to lend Dave money with the security based solely on the pub: “They didn't even want to take into consideration any of the pub’s income,” said Dave. “They said it has to be 100% on the caravan park.” Eventually, Dave had a proposal on the table from his bank, but then he received a call from Lloyds TSB asking if there was anything they could do for him. It turned out that they could offer a much better deal than the others and he soon switched banks and the deal was done. Grants and loans – what's available Finding what grants and loans may be available to you, and managing the application process, can be timeconsuming but, fortunately for Island businesses, there are several sources available. (see also page 10). The Isle of Wight Lottery is run by the Isle of Wight Chamber of Commerce, Tourism and Industry (IWCCTI). It was created eight years ago to help grow the Island economy and support local businesses. The Lottery is funded by the sale of £1 tickets and offers three prizes every week – £2,000, £300, and £200. All proceeds go into a loan fund for Island businesses. Zoe Stroud, IWCCTI Group Marketing Manager, explained: "We offer interestfree business loans to any business that's either starting up or wanting to expand but struggling to get funding elsewhere. We also recently started a training programme for people thinking of starting up but who don't know which direction to go in." In the last eight years the Isle of Wight Lottery has provided £327,825 in loans to 57 companies. One recipient of a Lottery loan is Dino Karabasic who owns Images Café on Newport High Street. Dino had received a Lottery loan in 2002 when he opened Seabreeze Café in East Cowes. He said: “They were really helpful as I was a good re-payee of the loan, and they didn't have

Merry Christmas and a very prosperous New Year to all our readers

THE EXPERT’S VIEW

DECEMBER 2009 - JANUARY 2010

a problem with the business plan I put together. It was a great help especially with the loan being interest free, which does ease pressure on the other finances. With the money given to me by the Isle of Wight Lottery fund, I have created five jobs.” For companies looking for larger amounts of funding there are other options available through the Island's business support network. Ken Dueck, Portfolio Director of the Solent Innovation & Growth Team explained: “There are a number of grants, and loan products. There are grants for research and development, and grants for business investment, all managed by Finance South East. You could also look at the Carbon Trust for environmental projects, and there are some European sources as well.” (Check out www.cordis.europa.eu) If you are launching a company on the back of innovative technology, the Grants for Research and Development administered by Finance South East is another one to consider. Finance South East also administers the Commercialisation Loan Fund which offers flexible loans up to £60,000 for taking a new product or service to market. A number of Island companies have obtained these loans which can be for start-ups or any SME looking to expand a business via a new product. Another option is the Accelerator Loan Fund which offers loans of more than £60,000. This fund is more suitable for growing a business as it would be difficult to access if your company does not have revenue streams or equity funding. The Grant for Business Investment, which is also available via Finance South East, is aimed at supporting SME growth. This grant scheme can pay up to twenty percent of the costs of expanding a business provided certain conditions are met. Dawn Bone, Director of Flow Control (GB) Ltd., the company that invented, manufactures, and markets the innovative Flo Control Fuel Can applied for and received a Commercialisation Loan to help take their new, patented, fuel can to market. “We weren't getting any help from the bank at the time and we were looking at other types of funding, but it seemed that the Commercialisation Loan was specifically intended for what we needed,” said Dawn. “The process to apply for the loan was really difficult. We initially sought advice back in January; we then had to go through a pre-application bid and give them a lot of information before we could actually apply, and it took until June to get the funding.” Another recipient of a Commercialisation Loan is Graeme Hawksley's Hybrid Marine Ltd. whose parallel hybrid marine power and propulsion system is the result of a five year research programme. Graeme explained why he applied for a Commercialisation Loan: "That particular product is focused on people who have technology that is within a year from market, and it's to take them from that point to the final development and marketing. That just fitted exactly with what we needed to do. So we were successful in that loan and that took us through into production and post-production development work. "The application process for the loan was very quick . I think we were fortunate because we were the very first to apply. From first discussion to actually granting the loan was about six weeks, which is phenomenally quick.” The Isle of Wight Economic Partnership administers the LEADER fund as Graham Biss, Chief Executive, explained: "The LEADER programme is funded from Europe, and is part of the Rural Development Programme for England. It's focussed primarily on www.islandbusinessonline.co.uk

MONEY MATTERS No business survives without taking care of its money and our Expert’s View on money matters is here to make sure you don’t miss a trick. This month, Andrew Garner, director of Harrison Black, considers ways of taking profit from your business while reducing the tax burden. sponsored by

Tax-efficient ways of extracting profit

here are numerous ways of taking profit from your company, each of which has implications for the tax you pay, and for the company itself. Most of the strategies discussed here relate to limited companies. Corporation tax is due on a company’s profits, while personal income tax generally applies to what is drawn out of the company by means of a salary, bonus, or other form of remuneration. The question of whether it is better to take a salary or bonus, or a dividend, can be a difficult one and the issue requires careful consideration. A dividend is paid free of national insurance contributions, which would typically cost 13.8%, whilst salary and bonuses can carry up to 23.8% in combined employer and employee contributions. However, a salary and bonuses are generally tax deductible to the company, whereas dividends are not, so the choice is not always straightforward. Paying a dividend can create a considerable saving. The 5 April 2010 is the last date for paying a 2009/10 dividend, and any higher rate tax on that dividend will not be due until 31 January 2011. For those whose income could exceed £150,000 in 2010/11, thus attracting the new 42.5% rate of tax on dividend income, thought needs to be given to accelerating dividends into 2009/10. You may also want to consider alternative means of extracting profit, which might include making use of tax-free allowances, pensions, or property. Tax-free allowances, such as mileage payments, apply

when you drive your own vehicle on business journeys. The statutory rates are 40p a mile for the first 10,000 miles and 25p a mile above this. If you use a motorbike the rate is 24p a mile, and you can even claim 20p a mile for using your bicycle! Employer pension contributions can be a tax-efficient means of extracting profit from your company, as long as an individual’s overall remuneration package remains commercially justifiable. The costs are usually deductible to the employer and tax and national insurance-free to the employee. Care may be needed if the anti-forestalling provisions will affect you. Where property which is owned by you is used by the company for business purposes, you are entitled to receive a rent, which can be anything up to the market value, if you wish. The rent is usually deductible to the employer. You must declare this on your Tax Return and pay income tax, but a range of costs connected with the property can be offset. On the other hand, receiving rent may mean a larger capital gains tax bill if or when you come to sell the property, so care needs to be taken to weigh up the pros and cons. The area of extracting profits can be complicated and it is worth taking advice to ensure you maximise the benefits that are available to you. Contact: You can contact Andrew Garner on 01983 524731 or email: andrew@harrisonblack.co.uk. or via the web site: www.harrisonblack.co.uk

FEATURE Grant aid for recycling plastics

When Sue Symes took on the Agri.cycle franchise for the Island she applied for a LEADER grant to help purchase a plastics bailer to enable agricultural waste to be recycled instead of being sent to landfill. Sue explained why there was a need waiting to be filled by her new business: "Since new legislation has come in you can’t burn or bury farm plastic waste." Sue and her husband have their own farm and understood the impact of plastic waste building up on farms: "We had a huge problem of our own, and obviously something had to be done, so I decided I could offer the service to the rest of the Island." On the importance of the LEADER grant Sue said: "Without it I couldn’t have started because I needed a rather expensive bailer to bail up the plastics to make it economical to send up to Lincolnshire, and they were able to help me." There was quite a lot of paperwork because they need to see who or what it is they’re lending their money to. They’re all very helpful and within six months I was able to set up. "I can recycle anything that’s polyethylene plastic, including silage wrap and chemical containers. I've even recycled four boats and I can also recycle gun cartridges." Sue is already thinking of new markets and describes the next step as: "Going into more businesses, more factory-based businesses. I can do horticultural businesses, flower pots, seed trays, anything like that." Watch our interview with Sue on Island Business Online. 16

THE BUSINESS MAGAZINE FOR THE ISLE OF WIGHT

Advice from an expert Iain Mackinnon of Mackinnon Corporate Finance provides corporate finance advisory and related services to companies, plus specialised wealth management services to high net worth individuals. Despite the economic downturn, Iain confirmed: "There's always money, people are more cautious than before, but investing is going on, and that's a contrast to the last quarter of 2008 when in many ways investment was frozen." Iain explained that the return on investment (ROI) that investors should look for depends on risk: "If you've got a secure, asset backed investment, where perhaps there's no other borrowing, 7-9% would be an excellent return. If you have a high risk investment, you're going to want a return of double figures, 12% or more, plus an enhancement at the end." Read more, and watch our interview with Iain on Island Business Online and visit the website: www.ifmackinnon.co.uk agricultural and rural businesses with a small element on community groups. "It's a grant and as long as the successful applicant adheres to all the conditions it doesn't have to be repaid." Sue Symes, who started her new Agri.Cycle franchise business, says that the LEADER grant funding was vital for her: "Without it I couldn’t have started because I needed a rather expensive bailer to bail up the plastics. Banks have large charges, with interest and loan charges, so without them (IWEP and LEADER) I don’t think I could have got started, it was a great help." Raising investment At some stage you may choose to consider equity funding to finance business development and growth. Friends and family may be a source of funds in return for a stake in your business but do make sure that you reach a formal

agreement and take suitable legal and financial advice to ensure that expectations and obligations are fully understood. Advice on raising investment is available through Business Link and they, and their partners (see page 10) can offer introductions to business angel groups and venture capitalist funds. Finance South East manages a business angel investor group (South East Capital Alliance) and they also have an Equity Fund for start-ups. A number of brokers and advisors offer introductions to private sector funds. An Island-based expert is Iain Mackinnon of Mackinnon Corporate Finance LLP. Iain explained: “People are much more cautious than they were, but investing is going on. There is funding, it is available, but you have to have a pretty solid proposition in order for people to make money available.” One serial entrepreneur with extensive experience of funding high-technology start-ups is Mike Anderson who runs Consiglia Services, an investment vehicle based on the Island. "There's a lot of money around at the moment but it's about chasing good management teams, not good ideas,” said Mike. "We find technology or develop technology ourselves and then we work in the markets to find customers and funding for the core technology, and then we begin to exploit the technology. From that point we build a management team and fund, or look for funding, to grow a spin out or a seed company. "There are a million and one ideas around, but there are only one or two management teams that can exploit them. The management team has to have the knowledge of how to go from technology to market to customer and be able to articulate that succinctly in front of a source of funding." So, although we are certainly living in troubled economic times, it seems that there are sources of finance available for both start-up and expanding companies, whether yours is a micro business or an SME. Getting your hands on suitable finance will require time invested in a detailed business plan and searching out the best available options but it's good to learn, from the people we've talked to, that entrepreneurship is alive and well and finance can still be found for good ideas and forward thinking businesses.

Merry Christmas and a very prosperous New Year to all our readers

Supporting UK businesses year after year. We’ve now been voted ‘Bank of the Year’ five years running. This is in recognition of the support we give our business customers and why you can have every confidence when choosing Lloyds TSB as your business banking provider. For financial solutions that suit your needs and a relationship you can depend on, call:

07801 472448 Nick Whitmarsh, Senior Manager Commercial nick.whitmarsh@bb.lloydstsb.co.uk

Bank of the Year 2005-2009 FDs’ Excellence Awards, supported by the CBI

22 St. Thomas Square Newport, Isle of Wight

lloydstsb.com/business We accept calls made through RNID Typetalk. Calls may be monitored or recorded. Please remember we cannot guarantee security of messages sent by email. Lloyds TSB Commercial is a trading name of Lloyds TSB Bank plc and Lloyds TSB Scotland plc and serves customers with an annual turnover of up to £15m. Authorised and regulated by the Financial Services Authority under numbers 119278 and 191240 respectively.

www.islandbusinessonline.co.uk

YOUNG CHAMBER

THE BUSINESS MAGAZINE FOR THE ISLE OF WIGHT

Young Chamber – incubating future business talent It took three years to launch the first Young Chamber Council at Ryde High School in 2001, but the funding that followed that pilot scheme allowed the idea to go national three years later. Young Chamber has continued to grow and is now in 250 schools across the country.

Zara MacAlister investigates the growth of the Young Chamber 18

oung Chamber UK has been a huge success and there is even interest from other countries to create similar schemes. People are starting to realise the huge benefits of preparing young people for their futures in a way that education alone can’t deliver.

Kevin Smith pioneered the concept of Young Chamber when he realised that there was no structure in place for the Chamber of Commerce to connect with schools. He was surprised that there was nothing set up to encourage the partnership between local businesses and young people which he saw as vital for the development of the future workforce. Kevin said: “The idea was obvious – let’s connect businesses and young people and let’s prepare them for work.” The first meeting was held with Ryde High School and they were keen to progress the idea further: “They got the idea that we could bring the business community to work with the young people to give them an understanding of what work and employment was all about.” Young Chamber Councils are now set up in all the high schools on the Isle of Wight each comprising a group of young people aged 11-19. The Council sets the agenda with support from people like Carrie Almond, an Educational Business Partnership Manager. Carrie explained how the Council is structured: “Each school has a Young Chamber Council, set up with students who volunteer and they have a president, a secretary, very much like a company’s board and they run their meetings each week.” Carrie’s job is to go to the meetings, support the young people, and help develop their ideas. Activities of the Young Chamber Each Young Chamber Council organises three activities per term. For the members of Cowes High School Young Chamber organising the events is the best part of being involved with Young Chamber: “You get really nervous, but there’s a real buzz afterwards and you feel like you've achieved something,” said President Emma Jackson. Ellie Holman agreed but added: “You get something out of it, not just a grade but the experience too.” One of the projects the Cowes High School Young Chamber is involved with is helping to organise the Hampshire Constabulary Police Ball with Police Community Support Officer, Lisa Paul. Lisa grabbed the opportunity to have the help of the Young Chamber and has been extremely impressed with what she’s seen: “So far, I've had one meeting with them. They asked loads of very sensible questions, and gave lots of ideas which I hadn’t even thought of, and even a group of 12 of us on the committee hadn't

Merry Christmas and a very prosperous New Year to all our readers

THE EXPERT’S VIEW

DECEMBER 2009 - JANUARY 2010

LEGALLY SPEAKING Over the last nine months 115,000 students have been involved in Young Chamber activities with 4,000 businesses contributing 22,000 hours of volunteer time.

Legal issues are something that a business ignores at its peril. Our legal eagle delivering his Expert's View is Lance Terry, Partner at Glanvilles LLP. In this month’s column, Lance examines the issue of equity investment. sponsored by

thought of, so they came up with some really valuable ideas of their own.” Lisa was impressed with the Young Chamber right from the start and hopes to work with them on future projects too: “Something I noticed when I went to the first group is that they're all very keen. There were both quieter and more out spoken ones in the group, but they all had their own ideas and were able to share that within the group. So I think their keenness and desire to do it was amazing. They sort of rally each other along as well - it really was an eye opener.” Learning about the work place Local businesses can get involved in a number of ways, from sponsoring or supporting a Young Chamber event, to doing a business based presentation or workshop for a group of young people. Businesses may want to help by mentoring students through Young Chamber competitions or by helping to judge the competitions organised by the Young Chamber. There are many benefits for businesses and for Ian Jenkins the main advantage for his company, Thinking Finance UK Ltd, is the clear and unambiguous thought process the students have: “When you get crotchety and old like me you tend to put more things in the way and think ‘that can’t happen’ or ‘that’s too difficult’. You don’t get that with young people and that’s quite a refreshing thing to find.” Kevin Smith agreed that local businesses are energised when they interact with the young people: “It gives them enthusiasm, the ideas that the young people are coming up with have already started to influence and shape some of the the ways that businesses operate, and also businesses start to identify young people that they would want to employ when they leave school. In fact we’ve had businesses say to us, ‘that young person, I would employ them tomorrow’.” The success of the Young Chamber is its ability to bridge the gap which so often appears between young people and businesses. It creates a relationship between the two and allows businesses to be honest with young people about the skills that will be required of them once they leave school. Carrie Almond explained: “Young people get a better understanding of what's going to be expected of them when they go to work, and businesses get a better understanding of the people that are going to be their future workforce.” Young people forming young careers The advantages for the young people are endless. Carrie suggested the main benefits stem from the fact that it enables the students to actually have a go at things: “Rather than just being academic they can plan and manage an event or devise questions for employers, and it just builds their confidence.” www.islandbusinessonline.co.uk

hen a private company raises finance from an investor in exchange for a shareholding in the company - an equity investment - certain legal documentation will need to be negotiated and agreed. A key document will be the Investment Agreement between the investor, the company and usually the main existing shareholders and/or the executive directors. Usually, the completion of an Investment Agreement will have been preceded by the investor undertaking legal, financial and commercial due diligence on the company. The extent of this due diligence will vary depending on numerous factors - many relating to the company itself such as the nature of the company and its business, the management team in place, the size of the required funding and whether the company has already obtained outside investment and some relating to the investor such as whether the investor is familiar with the industry sector and whether the investor is an individual ‘business angel’ or a private equity fund. The Investment Agreement (sometimes called a Subscription Agreement) sets out the details of the investment and provides certain contractual protections for the investor. These protections can take various forms and are likely to include the right of the investor to appoint a director to the board and the right to receive regular financial, operational and other management information from the company. Also, it is common for the agreement to provide that certain matters require the prior consent of the investor shareholder. Such matters could include the sale or other disposal of any shares, the payment of any dividends, material changes to the

nature of the company’s business, the hiring of senior employees or the variation of the remuneration or other terms of employment of the directors or senior managers. The company and the executive directors will be required to give a number of warranties about various legal, financial and commercial aspects of the company and its business. These will be set out in the Investment Agreement and any exceptions or qualifications to the warranties will usually be set out as specific disclosures in a Disclosure Letter prepared by the company’s advisers. Often, alongside the Investment Agreement, a new set of Articles of Association for the company will be adopted. The articles may provide for the creation of new classes of shares and, if so, will set out various rights attaching to each class of share. The articles may also contain rights of first refusal (called rights of preemption) under which a shareholder wishing to transfer shares is obliged (subject to certain specified exceptions) to offer such shares to the other existing shareholders first. Alternatively, matters such as rights of pre-emption may be contained in a Shareholders Agreement rather than in the company’s articles of association. Therefore the raising of anything but the very smallest of equity investments is likely to involve a comprehensive process of preinvestment due diligence and the negotiation of a detailed Investment Agreement and other ancillary legal documentation. Contact Lance at: L.Terry@glanvilles.co.uk www.glanvilles.co.uk 01983 527878 19

YOUNG CHAMBER What’s happening in coming months

THE BUSINESS MAGAZINE FOR THE ISLE OF WIGHT Jangled nerves at Cowes High School’s Dragon’s Den event

Southern Vectis Challenge Thursday, 10 December 2009 Dimbola Lodge, Freshwater The Into the Blue Challenge Thursday, 14 January 2010 UKSA, Cowes The Liz Earle Challenge Thursday, 11 February 2010 Liz Earle, Ryde Annual Conference Thursday, 25 February 2010 Yacht Haven, Cowes Minghella Film Festival 12, 13, 14 March 2010 Venue TBC Top Secret Challenge Final Wednesday, 21 April 2010 Yacht Haven, Cowes Awards Evening Thursday, 6 May 2010 Yacht Haven, Cowes Round the Island Race event Friday, 18 June 2010 Cowes

Emma Jackson, President, Cowes High School Young Chamber

Kevin Smith

This heightened confidence can help young people develop ideas about their future careers and realise their ambitions, and as a result increase motivation and achievement. Being involved with the Young Chamber is helping Ellie decide what she wants to do when she leaves school: “I've always wanted to do something with music, but I've never really thought about music management, but that's more of an idea now and I wouldn't have thought of that before. I've never considered anything to do with business, but Young Chamber gives you the chance to experience business and take it into account when you’re trying to decide.” For others, being involved with the Young Chamber is a stepping stone into a business related career, and for Emma being part of the Young Chamber Council is a logical step towards her chosen career of retail management: “Getting involved with businesses is perfect for setting me up for that – getting into the business world, and meeting so many new people you wouldn’t meet otherwise.” Emma also realises the attraction it creates for businesses: “It’s quite impressive to businesses that we hope to get into that we've got Young Chamber on our CV.” Through his own experience Kevin Smith is acutely aware that the careers advice on offer to young people falls short of being acceptable: “When I left school at 16 no-one really assisted with the careers advice and guidance and that’s not very good. What I found after 30 odd years, was that that was still happening, which is outrageous really, so the system hadn’t changed. What we want to do with Young Chamber is actually start getting young people thinking about it, so that by the time they start taking their

qualifications, they have a route map to what they want to achieve.” Looking to the future Kevin’s objectives are for young people to leave school with a better idea of what is available: “I would like young people when they leave school at 18 or university at 21 to have clear ideas of what they want to do. Clear ambitions and aspirations, and the economic gains, not just for the localities but for the country would be massive.” The young people involved are motivated and ambitious, but they are all aware of why Young Chamber is a success: “Make sure it’s not a classroom environment,” said Joey Oliver, from Cowes High School Young Chamber, “And definitely the most important thing is to make sure it's student led.” Kevin Smith puts the success of Young Chamber down to the fact that it’s a simple idea: “It's not about political gain it's not about educational attainment, it's about young people – preparing them for life and getting them to think about jobs and getting them into the work place. They're the next generation and they’re massively important.” Young Chamber aims to be in 2,000 schools across the country over the next five years. On the Island, the aim is to get more businesses aware of the Young Chamber, and to encourage more support from them to help shape the futures of the Young Chamber members. If you would like to find out more about getting involved with Young Chamber activities contact Laura Morris at the Isle of Wight Chamber of Commerce on 01983 554536 or email laura.morris@iwchamber.co.uk Young Chamber UK website: www.youngchamber.com

Merry Christmas and a very prosperous New Year to all our readers

Signature Blinds

www.islandbusinessonline.co.uk

THE COST BURDEN

THE BUSINESS MAGAZINE FOR THE ISLE OF WIGHT

Island businesses burdened by red tape Isle of Wight businesses say the current recession and changes in Government regulations are an ongoing challenge. The financial cost of regulations is only part of the burden on business; keeping track of changes and potential changes at both EU and UK levels is a major burden in itself. Andrew Turner, MP for the Isle of Wight, said: "It's undeniable that the cost of complying with regulations has rocketed in recent years. Having said that, governments of all colours say they must build a bonfire of regulations. "But, due to the current economic downturn, it's clear that we must allow businesses to help themselves to climb out of recession. So, it's more urgent than ever before that we remove barriers to businesses trading successfully." Businesses in the South East, which includes the Isle of Wight, have carried the second highest cost burden of UK and EU regulations between 2008 and July 2009 at £12.2 billion. Out of the 12 regions in the UK, only London has paid more in the same time period, an amount of £12.4 billion. In the Voice of Business Survey 2009, compiled by the Isle of Wight Chamber of Commerce, 40% of businesses reported that they found Government regulations and red tape a huge burden; the other 60% probably failed to answer because they were too busy keeping up with the regulations and red tape to fill in the questionnaire! Find out more about the work of the Isle of Wight Chamber of Commerce, and the support they offer to Island businesses via their website at www.iwchamber.co.uk.

The cost burden for business – how much? The British Chambers of Commerce (BCC) 2009 Burdens Barometer shows that the cumulative cost to business of new regulation since 1998 has risen to £76.81 billion; this is a jump of over £10 billion from last year.

f this £76.81 billion, £23.49 billion originates from UK regulations, but a massive £53.31 billion comes from EU regulations. There is, though, a positive note to this year’s Barometer with 18 regulations since 1998 now producing a total saving for business worth £1.4 billion. This is evidence that the Government’s better

Louisa Mamakou looks at the rising cost of regulation and red tape regulation agenda is beginning to do its job. However, considering the current financial pressures on many firms, much more needs to be done to immediately reduce the overall burden. With business cash-flow being severely squeezed and many good firms going bust, the uncomfortable truth is that despite three Acts of Parliament designed

Merry Christmas and a very prosperous New Year to all our readers

THE COST BURDEN

DECEMBER 2009 - JANUARY 2010

Burdens Barometer

Source: BCC

Cumulative costs of regulation since 1998 £76.81bn £65.99bn

£55.66bn £50.27bn £38.9bn £30.0bn £15.0bn

£20.6bn

£10.0bn

2001

2002

2003

2004

to reduce the regulatory impact, the steady increase continues. In 2007/08, companies were hit with 19 new regulations costing them a staggering £1.75 billion.

2004

2005

2007

2008

2009

Burden by Region Source: BCC

The two most burdensome regulations in the Barometer are: • Working Time Regulations 1999. To date, this has cost business £17.8 billion with a recurring annual cost of £1.8 billion. • Vehicle Excise Duty (Reduced Pollution) (Amendment) Regulations 2000 (EU Pollution Directive 98/69/EC). To date, this has cost business £10.4 billion with a recurring cost of £1.2 billion. The BCC Burdens Barometer is an independently produced calculation of the cumulative cost to business of new regulation which is compiled by the Manchester and London Business Schools. Professor Francis Chittenden of Manchester Business School, said: "After more than a decade of uncontrolled and often ineffective regulation, Government must build on these welcome early signs of improvement by introducing regulatory budgets to contain the flow of new burdens on business." Commenting, David Frost, Director General of the BCC, said: "Over the last year, businesses have faced the toughest economic environment for a generation. "The Government needs to get serious about reducing the massive burden of regulation on business. Cutting unnecessary burdens and announcing a moratorium on new regulations set to come in this year, is one way of providing instant and inexpensive help to British firms." www.islandbusinessonline.co.uk

12 2

4 5 6 10 7 9

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12.

North East North West Yorkshire and the Humber East Midlands West Midlands East of England London South East South West Wales Scotland Northern Ireland

£2.2bn £7.3bn £5.7bn £5.4bn £6.2bn £8.4bn £12.4bn £12.2bn £6.9bn £3.2bn £4.8bn £2.2bn

Regulations origin UK

£23.493bn

£53.319bn

30.6% 69.4%

Total

£76.812bn

100%z Source: BCC

Read more about this on Island Business Online where you'll also find a link to access the full 2009 Burdens Barometer. To find out more about regulations visit the BCC website at: www.britishchambers.org.uk.

European Burdens Barometer reveals staggering cost of red tape on business Research published by EUROCHAMBRES, the representative body for Chambers of Commerce across Europe, has revealed that the cumulative cost of red tape on Europe’s businesses over the last 11 years amounts to a staggering 1 trillion. Estimates of the annual cost of all EU regulations are in excess of 12 per cent of EU GDP. The report argues that even though the EU holds the keys to creating a true single market, high levels of poorly designed and burdensome regulation ensure that EU competitiveness is hampered without any certainty that the intended regulatory benefits are achieved. Research shows that the EU Impact Assessment system is partial and lacking in rigour. Few Member States have systems that are complete and open to proper scrutiny. Therefore, EU regulations are largely driven by political considerations with inadequate assessment of the impacts on business and the economy. EUROCHAMBRES welcomes the European Commission's recent report on the initiatives it has taken to reduce administrative burdens in the EU. However, businesses feel that companies in Europe still spend too much time and money in dealing with excessive bureaucracy and regulation. While EUROCHAMBRES acknowledges that the Commission has taken a strong lead in trying to reduce administrative burdens, they believe that more efforts are needed from other EU co-legislators, and particularly from Member States, for benefits to be felt at business level. Visit Island Business Online for more on EUROCHAMBRES and a link to the full European Burdens Barometer. See the EUROCHAMBRES website at www.eurochambres.eu

THE CHANGING DECADE

THE BUSINESS MAGAZINE FOR THE ISLE OF WIGHT

From the noughties to the teens It seems like it was only yesterday that we were worrying about Y2K and the turn of the millenium but suddenly ten years have passed and we’re already at the end of the first decade of the 21st century. And what a decade it’s been!

Steve Sleight canvassed opinions on the past decade and the one to come

he first decade of the 21st century should be remembered for when we began to live in two worlds – online and offline. One of the main stories of the decade is the impact on our lives of connectivity. It started with the web, less than twenty years ago and in the last ten years has exploded to become an 'always-on' part of our lives. Broadband, wireless networks, mobile data, now our digital life is on the iPhone in our pocket. New technology has led to new cultural phenomena: Google, YouTube, Facebook, MySpace, Twittter et al, have become global brands in a few short years. Ten years ago they were unheard of – now they have unbelievable audiences and powerful communities. YouTube delivers over 1 billion video streams a day and has given its name to the YouTube generation. If one key story of the last decade is in the online world, the other is offline. In the real world the story of the decade has been an increase in fear. Fear of terrorism and the 'war on terror'; fear of and for the environment; fear of pandemics; fear of the recession and the economic future – we've learned that we have much to fear. Perhaps that explains the growth of online social networks. A very large number of people feel safer (sometimes wrongly) and 24

We asked a number of Islanders these questions: 1. Looking back over the last decade since 2000 what are your thoughts about the changes it brought?

more able to share with an online 2. Looking ahead to the next ten years what do you think community than in the real world. will be the most important factors that businesses will have to consider? The growth of social networks, the power e e of blogs, and the connectivity of phones Chin ositiv dap gang Black aks has ha However, r, o with still and video cameras are the t bre ctor. Direc short bell, sm se ingredients of a fundamental shift Simon Dath in adult onylyof the touurimber of nised the need n m the no ed row cog The g on the eco nly a limit o have re as well as in media power. Nowhere in h o t ty w a c n li e e a n rs e ff u e e b e e s of q have has s provid uring business is the change created by there modation er in term . The UK aks but d re ng off accom ge their e-marketi ay short b became an connectivity more obvious than in brace estic holid the Island s, to ch , ve to em m need nce in do e decade ng objecti e the media sector. th l ti resurg er half of eir marke g financia tt in th Always-on connectivity, coupled with thenlafused abouted by increaos n the local elp co ures thority. not h press au the power of an iPhone or Blackberry Simon Dabell, Director means the rise of citizen reporting. The , Blackgang Chine Now that a new partners hip has been created betw Iranian election coverage and the outing een the Chamber of Commer ce and the Council, we have a much better chance of of Trafigura (a company accused of developing a tourism strat egy which will take full adva ntage of the continuin g potential dumping toxic waste on the Ivory Coast) growth in UK short brea ks. However, important factors to be considered include the need to raise sufficien by tweets, blogs, and online video are all marketing fund t annual ing in order to be as com peti tive as possible when selling the the proof necessary that we are all Island, as well as helping all tourism busi nesses to learn how reporters now. What's the impact going to change with the mar ketplace. to be on our media companies? George Brown, Dep uty Leader, Isle of Wight Council Along with the vast choice of media The start of the current recession will define the decade. Over-abundance of con available online comes the question of who sumer credit cratered in 2008, strangling bank loan s and denying firms essential working capital. Man pays. The growth of the internet has aging cashflow is now a greater imperative than ever. On the Island, the clos brought with it a widespread belief that ure of Vestas production facility was a major blow but it is good that the skills of a significa content should be free. This has already nt number of its emp loyees have been retained here. The visitor economy has gained from rising cost played havoc with the music industry's s of foreign travel and the iconic IW Festival, Bestival, and Cowes business model and now threatens Week play key roles in promoting the Islan d as a destination of cho publishers of all types as they seek new ice. l models to charge for online content. t Counci of Wigh ader, Isle g Le in m One thing's for sure, business in ty u co Dep ce da is be Brown, ility agen ed to redu George l/sustainab ill be oblig rise the next decade won't be boring! ronmenta t. Businesses w vi es ic en pr e Th gy an omic and ener ly import ant econ We’ll see an ever more complex real increasing footprint as fuel ovides an import undance pr on ab is rb its their ca cade. Th nd with cially from ut the de r the Isla world while the online world will ces, espe througho t opportunity fo ergy sour ouncil will en en pm le lo ib ve ss C de ce IW become even more important to l, easily ac ind. The e of natura s and offshore w vest in th and ace to in am logies tidal stre e Island as the pl business. Amongst the noise, the gy techno er th en e le ot prom estic newab ent of re tion. Dom value of the brand will be even more developm mponent produc ntinue to co co t ill lis w ia ' ec ns sp de, atio important than ever, as the primary the deca or 'stayc holidays the beginning of ity for at un rt increase nt oppo means that we'll make judgements ist a significa the Island's tour creating in about the value of products and services. economic growth industry.

Merry Christmas and a very prosperous New Year to all our readers

DECEMBER 2009 - JANUARY 2010

THE CHANGING DECADE

Geoff Banks, Chairman of the IWCCTI Economic De velopment Bo ard and Cowes coun cillor. Legislation wi TI ll C be C rife an d adherence businesses wi he IW for smaller Steve Blamire, bus ll be daunting. n of t nd iness consultant Increased admi will put many airma ard a and IB columnist n costs out of business ks, Ch pment Bo n a r B . e En pe gaging the be rsonnel to de t ev s Geoff ic Develo te live st On a r the project/s a superficial level, d re n g a m e r. o en d erv we for n th b ice will see te ced recruitmen architecture will be Eco ncillo immediate challen essed regula e an t with the likeli s cou ge. Web 3.0 is alre giving less loy s witn me more hood of staff Cowe ady upon us alty with dim o de ha s and intuitive, behavio g by th inished job d t deca try has bec nies abidin fy them ha satisfaction. Gr an ura s t l-ba la sed an syst lt e ems will e owing concern us nsu become the norm Th pa r s on who d with interfaces bei global warming siness co es. Ind labou n com ng designed mire, bu chang e betwee s and those nt of PAYE will force us to around these prin id ciples. On a much Steve Bla t increase comp e n ed dee em is any investment the div regulatio r. Employm nd the per level, n se pea m k oil has probably lu orld co w e ry d a IB to red th te an alre to y uc a ady e our carbon occurred and as this gre orders ennium man statu comes to light the footprint. to the mill ill full of old-world ited e ever forced on has r imp io m lica Pr tion o c s will be e be en huge and the real with lim ined, st eb many ur forc race for sustainabl ow be predeterm posed by the elite ter the w has n nsient labo triment of e design will begin. im k. Then en orld over. If a de Again lots of structures e my mar w av e le th past tr ed to the d safety s to redesigning and reb hing ities e ish an uilding, but on a filled with opportun nvas for 20-somet ade th for ly t m en dimin s. Health en s dd sca m a su le not seen since the ca rlia ie er, h – a blank sion the world was approval steam ber of Pa industr on, howev power revolution a vi ti rner, Mem ding no 300 years ago. you had legisla ce safer. fine alised ndrew Tu ight ilities. Nee de A ib ob re ss gl d po e ul la s or of W endles tal you co t-Heron come m workp ways the Isle little capi ns will be customers will al g and very d. Gil Scot ganisatio you wante ill not be presentin Many or enous but some r Andrew Turner, Member of Parliament for – ve te ue ha iq w Ken Dueck, Solent Innovation & Growth Team un nw og ey d tio m Th an lu t ho . l vo ia d es re ss an the Isle of Wight spec ne to add; “i said; “the che busi mething In many respects it will be the same factors as e best just forgot want so es for smaller, ni ill need th vised” he ded”. The dominance of out-of-town supermarkets over le w te t iti bu un s before: national and international competition, oyee e wnloa opport specialist shops has been unrelenting and sadly wer empl . Concern for th will be do fe ve incorporating the Internet and other technologies ha will for a aining we have lost many small retailers in towns and we aim n and tr as io into everyday business practices, improving quality at se uc ea ed incr sts villages. Cheaper air fares transformed travel ent will Ken Dueck, Solent r fuel co and customer experience while also carefully environm Innovation & Gro y. Highe om patterns, but whilst more people are crossing the on wth ng ec ki Tea m managing costs – but with more urgency. Meeting Despite the recent greener age flexible wor recession and other Solent – both holiday-makers and commuters – home ur ups and environmental targets will create a powerful driver downs along the way will enco d working from , I would say the last will ferry prices have continued to rise. es an nc ns va dec was for both financial stress and business er ade ad about investment and patt ical growth on the Isle se. Med longer. Legislation, from both Brussels and ea k cr or Wig opportunities. Funding these challenges in w of ht. ill d If you think about reta w an e liv to iling l , manufacturing, Westminster, has increased its health, education, is also going to be a challenge as lead us al construction, tourism stranglehold on business; it must be , or even broadband, there has banks seek to limit their exposure to been significant inve cut back dramatically. stm and expansion. This risk. This may stimulate new ways to ent is reflected in our 8% Robin Freeman, Chi ef Executive, Isle of population growth provide business investment. and 20% jobs growth Wight County Press Group Ltd since ‘99. Compar e this to the 5% It is difficult to see the population growth advance of technolo Robin Free Steve R and 7% jobs gy gro man slowing significantly eading wth for Great Britain over the next 10 yea County Pres , Chief Executive, Isl , Busin rs and over the As we m e of Wight concern about a bus s Group Lt ess Lin sam e period and you beg o iness’s environmental d k Advis Ten years ag in to see sustainab ve into a new er impact will undoubtedl o we were the decad imp ility will y come into greater act on our local eco all worrying computers in co nom fluence. focus. Businesses will ntinue to e, I believe y. about our stopping on hav O e to become even mor ur attitu be a maj the stroke of 1st January ev e resp o d lv ons or es to midnight on 2000 and th ive to the changing dem e and e world com ands of customers end! Some dedicated opportunities green energy w and will have to be swif ing to an predicted th will emer ill t to adapt to be at would no few predict ge for b area that to reducing ca more competitive. As t happen bu ed the spee usin rb si o buyers become t d at which, sophisticate develop ts well with su n footprint. O esses more sophisticated they ever more d technolog n m st e en ai key will also nability t of ey, would im every part of will nee er is conti place a greater value pact upon ou d to inve commerce. Sm nk Advis on some of the lives. Environ r business and persona siness Li aller bu nued st in a w increase more traditional qua l mental cons sinesses ading, Bu hugely d relian eb profi Re en lities e.g. service e be t, ev iderations ve within busin St en ce on p le, while prove ch and quality etc. ties’ ha opula ess were in e environm al e ‘nough their infancy 10 years ag areas – th rnet. The which w lenging to loca r sites will I think th o but today ree main te l busines ill need they are, ential in th lopment of the in impact of rightly, at th to se cu flu s in fo st omer cus on ex e heart of m d deve ound cellent ost businesses maintain service in order security, an had the most prof her terrorist operations. t s to ot cu a ty ci w p st ith ro in w o mers.’ and 9/11 at gether n and el, with . That, to ch to trav rdingly essma the decade anged our approa co , busin nd apting ac ch la s, Bland , ad Is r s es m e iti or le e ct h tiv Chr b p ac d se f th y pro odge is nt s in relate Christo utenant o its earl ent’s total sford L t Lord tophe ore stringe businesse ie ill have Briddle rB m g ever-m e ess igh L Lord L years w the Govern Future busin ery and introducin s. Ten years ago th rtner – r – Isle of W a n P Disa ieuten land, b , te t x m V cto a riffin p u easure ad. The ne emming fro e economy. und deficit. Judi G ootton, Dire emp pointed nt of t siness security m ol was all but de orted th st o he I m loym W oc be imp hip tha largely rstanding of h a trillion p social unrest slan an an the Farm, rtners Kyoto prot portant role that a and will it , P t e n n d w ic e decr ent has t the la e n d d k le m u m ta s, can ven more o st me pas mis e im rn n ct e re co e th u b r , v co be ease wer w d g o E s b ow to ro g N e ha to e t een st e yp ve ew ave e has to play ve to b here nd dair will ha isions will h opefully, a n s spec except in man in the increas business Milk, a so we will ha value and w a H e ec u io go ia y issues. hard d real threat. sitical quan add Britt lised b ns, an facturin public s in has aper, e of the ke d to e n e to k on ch la o ra a Is e en N incre usin lo a g e c continu . The titive, will b ose of the p king at vast repu esse orm ase emplo tor and compe te co-operate d we need to the s t a ill disp decision-ma reversal of an Judi Griffin , Pa ri alive ation fo an to ke and th in very yment. at w p n d o ro o ti p o p rtner – Briddles sm a Ther e ab ng dg . ea puta ford Lodge uce an cont The ho r aeron ep the e Farm, Wootton ility all ping re paralysi . I hope to se o jumbo Is a , Director – Isle develo lity local prod in o v se mb n of Wight it in ued to ercraft utical e land’s g f GKN Economic Partn expen ng mu ry sector o r qua si e a ff n a in r a ve o y. ers re e e t g hip c n ta n h e d also ry sp rive o dustry ineerin at r mo ever in g the volun ily. must b Speaking as a dai value fo g av nesses tive, explore lin ry farmer – sadnes and importe ecialise n the Is strang e rely so he ral busi ti s at the number of colleagues sel la d d serv w gricultu l and compe A ling m o ices even m capacit nd, be up h bec ause milk prices w iona rage rise. As a partne from y. o failed to profess s, and encou r in a rural busin the re mate We ess – confidence ea optimism becaus main ria and new id ment. e the public hav land ls st e begun to see tha farming matters. inve . t Farmers and gro wers have begun Kevin Sm Jonathan Th respond by re-con ith, Chief to ornton, PC Co necting with the I Ex nsultants T ec con C ut sum Th We visited a ne C ive, IWCC er, selling direct e big area IW , e to w customer an TI s the public, for busines in tiv , u and c g be div d discovered ha e ers n s d the advanc ifying into innova x will contin not been back ti y. E a g f in they lo c ie o s es tive ue ing in techno up their data chn , Ch particular en fa the server tap logy and in to ventures to add value to the for months – the use of Smith rs have be nce and te ced e ha d ir be in en v ejecting and ha core business. internet te n a Th cie a Ke ch e s is an h y is f ge n d th d o 0 rel e d been e future m chnology. igiously but no has elds ande ast 1 ts arket plac body had chec the High St was actually wo at The p lar in the fi l networks le and exp uld ultan e for us al ked it re rki ed th p u co Cons l, but social crea et will still have its comment from ng. It reminded me of a rec mind rs were , PC partic om in socia tween peo thing we re n e o pl tu t b ac ent re a e client where he y e o to m orn where othe s who on occasions e as we are backups cost said: “Bodged The b nication b beyond an rising rnet r custo an Th business big bu rs are and want to be u s is surp ulk of ou ial-up inte nath es o th re it c ck J 10 s!” er m n comm al network years ago. k ef ai ye Ov a n c b ars or er v a pass , developments e retail th the next of d g ba n al ad st nd is o the erapy such as cloud is how the ion for many. One computing wi perso agined 10 ologic Lookin years ag some form broadba tain at lea e fundamen will fin ll likely affect im 0 techn ri y g ed tal shift where and operates an ancial service sector how much da have latest ld of only 1 necting b , high spe peeds in B real chan e d th d ta re is stored. Give s y a on fie of nte more socia the development of n the ever increasin still c tion. Toda h average sulted in ice as an Some larly in the e almost e l banking g reliance on re it ff ec v u 3D TV initiatives. IT, way stock businesses ne conn nplace w d this has ake our o h partic inment ha e fiction, will Th ex e ed o ch T n to ig an c a a m rec t. h n ges operat ognise the shift to a rne for com es faster importance of entert rld of scie test which e will far e inte planning for rec Skype la o . infrastruct more responsible 50 tim we use th larly use overy if something the w ne of the ur TV sets ure. u goes wrong.. w g o o o re g g h n e . in ti in w be da voice which ple us up exam video and omething mited to have li s quality nication, ave been could ouncil u h r IW C ed to comm sly would tions who th. Leade expect st in Pugh, id gly be ora iou n id lea w v v si rp d a a re o n e D ial p c Marc Mor a b ty, not incr mmerc le ili on the Co ill a b & ry c w si ns a gan-Huws, s n tio s s sse spo impact uws, Opera large the neces Operations Commercia Busine social re ding to their ill further Marc Morgan-H te & l Manager ra rd s st cti w n o ern Ve aff , Southern demon g and respo ologies One of the will Manager, South Vectis that we isin d techn ing, which biggest ch next decade is anges of th recogn ent. Improve has been th e work ronmental prediction for the m indeed e last deca My m Da d o e web. So an vid n h s, Pu ro asi vi d gh ph n n , Leader IW Co de a re em envi much of w ne now web ba ities uncil remote hat w will see much mo focus o mmun tainable in se ICT and the wid increase ress this. The esses and co bringing ke us more sus stakeholder d, but equally, our cu e do is espread availability regulation to ma of stomers an s now have esses that are over the pas usin add of sin b ct bro bu a lp e adb ose p e and Th h se . rms d im t do hav ac 10 years, fundam o communica e, Local fi everything we otprint will als entally changed tion forms. cess to so many diffe upon the which business the way in issues the carbon fo ss the Solent. rent at their impact The web ha how busin conducts itself. d o an already looking esses are m s transform ly ss Few cr ect a to re of dir the us, whether wit public, private, or add ed arketed, an have every way, rvices them far m hin voluntary sector d has also and se r bodies will environment in ore vantages s away from phon s, are often far made goods ve the usual ad cto service control they aware of how little e and email con indirectly, will ha ublic se ow on-Island ndards nefit tac have over p be t. es bo d Thi ess th s n sin has the a bu changed hours and locatio d h the flow of informatio sta te e ra th st ns d that well-prepare n about th n thr ough which wo activity takes pla excee demo eir busines be rk-related isn’t going to go web has cr ce, and also the s. The tch and t could from. The issue eate media through is conducted. Wh can ma by those tha land, and er and voter which it and econom d huge opportunitie ilst these chang d in e a away and consum increase, s d ies of scale m es vi hav e gre e brought ater efficiencies th pro d to w never have in many ways, the ed from the Island’s pressure is boun dreamed of e could have also significa y import . ps and bounds. duce ntly increased the probably in lea ereby re tprint. volume of commu th nication going bac foo k and forth. This is carbon certainly the cas e with how business on the Island has evo lved. 25 www.islandbusinessonline.co.uk

COMPANY PROFILE

THE BUSINESS MAGAZINE FOR THE ISLE OF WIGHT A barrow-load of penguins

Simples! A resident meerkat at Seaview Wildlife Encunter surveys his world

It’s a wild life It’s grown from grazing pasture to major visitor attraction, yet Seaview Wildlife Encounter remains a labour of love for its owners.

ince it opened in 1971, the park has built up a wildlife collection which has consistently charmed and enthralled parents and children alike. But no-one is more besotted than the Adams family, who still live on the site and devote their lives to it. And as businesses everywhere look ahead with mixed emotions to the challenge and opportunities of a new decade, the family’s commitment, 26

Kevin Wilson headed to Seaview to meet the animals and discover Seaview Wildlife Encounter’s winning formula enthusiasm, and business ethos adds up to a positive story which should encourage everyone. Peter and Margaret Adams are both now 76 years old and still working seven days a week, supported by their children

and company directors, Lorraine and Mark, and a core team of eight which rises to more than 20 during the peak season. On the day Island Business came to call, Peter was to be found with a barrow-load of cement carrying out repairs to the park’s tropical house, while Lorraine was working her way through a mountain of tasks in preparation for the 2010 season. “I was born and raised here,” said Lorraine, “and what drives us all is our love for the animals. In business terms, it is clear that the quality of life and care the animals enjoy makes for a better experience for our visitors. But our motivation is really to share our love for the animals and birds in our care.” It’s clearly a formula that works. The park has made a profit every year, recorded a 30 per cent increase in visitors in 2009, won a silver award from Tourism South East in the Best Visitor Experience category, and won this year’s GoWight Tourism and Leisure category of the Isle of Wight Chamber of Commerce Business Awards for Excellence The park’s proudest statistic, however, is that almost half of Seaview Wildlife Encounter’s visitors are returning. This compares very favourably with the national average level for repeat business for tourist attractions of just 13 per cent. Lorraine plans to do some more

Merry Christmas and a very prosperous New Year to all our readers

www.islandbusinessonline.co.uk

COMPANY PROFILE

THE BUSINESS MAGAZINE FOR THE ISLE OF WIGHT Joey hitches a ride with Natasha

Having a penguin moment

Lorraine plans to do some more detailed research on this next year, but her hunch is that the park’s emphasis on ‘hands-on’ interaction with tame wildlife, and the daily programme of events, including informative presentations by the keepers, is one of the main reasons people keep coming back. Although the park’s annual feed costs for livestock is £30,000, visitors can help feed penguins, wallabies, parrots and macaws, and wildfowl, as well as getting up close to the smaller animals in the pets corner, and – for the less sensitive – even hold a hissing cockroach. General Manager Jules Brittan said this ability to get close to animals and birds that are clearly happy and well-cared for often has an amazing effect on people. “It is wonderful to see the effect it has,” she said, “and no-one is immune. We’ve listened with delight and amusement as adults have talked excitedly about the fact that they were able to actually feed a penguin. This certainly isn’t a place just for children! Coming here has a therapeutic effect, and that is a large part of the attraction, I think – it can act as an antedote to the pressure of modern life.” But, in common with any tourismrelated business, Seaview Wildlife Encounter does have to cope with unique pressures of its own, and has to stay on its toes to survive. Lorraine said: “We have had a great year – one of the best on record. We think that may have had something to do with the weather. It was warm but 28

with a fair bit of cloud, so visitors were perhaps less inclined to just stay on the beach. But who is to say what next year will be like? Like most other attractions, we will be affected if the weather is hot and sunny, and if it is raining, not to mention the state of the national economy, so we must always be thinking about ways to improve what we offer. ”But as long as we can ensure high levels of customer satisfaction, provide a good quality experience, and give value for money, we hope to be able to continue our steady progress.” Business planning provides the structure for this, and Lorraine said areas of focus for the future include greater emphasis on marketing, increased involvement with conservation and sustainability, and opportunities for partnership working. By next year, the park also hopes to qualify for membership of the British and Irish Aquarium and Zoo Association (BIAZA), which will open up new possibilities for involvement in worldwide conservation projects, as well as keeper exchanges, which are vital to help maintain and develop a skilled team. The park’s staff are responsible for the care and cleanliness of hundreds of animals and birds, and when the site is full, they also have to think about the health and safety of around 2,000 people. It is a big responsibility, and one that is covered by detailed legislation, some of which comes with the territory as a licensed zoo. The increasingly prescriptive nature of legislation around

”As long as we can ensure high levels of customer satisfaction, provide a good quality experience, and give value for money, we hope to be able to continue our steady progress.” Lorraine Adams

health and safety is a business planning issue, said Lorraine. “It is a fact of life that regulations develop and increase over time, and it is obviously a major issue for us,” she said. “We build this into our management systems and devote considerable effort to staying up to date.” The same detailed planning goes into every aspect of the park’s operation, and has recently been applied to upgrading its website, which now includes a blog. Lorraine acknowledges that the next stage is to resolve the park’s branding. It is now known as Seaview Wildlife Encounter, to reflect the diversity of its collection, but the brown road signs still direct people to Flamingo Park, and the website address is flamingoparkiw.com. Getting the branding right is one of the company’s objectives. Others include

Merry Christmas and a very prosperous New Year to all our readers

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COMPANY PROFILE

THE BUSINESS MAGAZINE FOR THE ISLE OF WIGHT

Back row left to right: Jake Cousins, Natasha Green, Craig Holmes Front row left to right: Jules Brittan, Fern Daley, Tracey Manning

numbers, stimulating public interest in wildlife and environmental conservation (including fundraising for specific projects), improving links with schools and colleges, and further investment in staff training and development. The park stands on the family’s land with fine views over the Solent, and a steady process of investment and development has resulted in the creation of a wildlife haven that includes one of the largest waterfowl collections in the United Kingdom. The steady growth, and the development into a home for rare species, continues. The penguin enclosure and pool created in the late 1990s is home to one of the largest collections of the endangered Humboldt penguins in Europe. Three Asian short-clawed otters took up residence in Easter this year to the delight of staff and crowds alike, while the park’s family of Chilean flamingos has finally begun producing offspring, and the owners are considering the possibility of finding room for more new 30

animals next year. Another major project has been the £500,000 cost of building and developing a unique tropical house featuring rare, tropical birds flying freely amidst the tranquillity of water-features, rock pools and a prized collection of Koi and Mirror carp. It was completed in 2005, but has already been improved, with the provision of a linked reptile house. Two indoor educational buildings – one catering for younger children and one for older students – aim to engage young people into caring for their environment. The same philosophy is extended towards staff. One of the park’s senior keepers is currently in Cape Town learning to rescue and rehabilitate the endangered African penguin. Part of the cost of her trip was covered by public subscription, and the new skills she acquires will help to fulfil another requirement of the park’s zoo licence – the continual development of staff. This commitment to continuous development is at the heart of the Seaview Wildlife Encounter’s story. It

Fast food flamingo style

helps to generate a special atmosphere which permeates everyone … including staff and visitors. But the real stars of the show remain the animals and birds, which have the ability to stimulate fierce loyalty, love and laughter; and are perhaps the source of the feel-good factor which has made this one of the Island’s most enduring attractions.

Merry Christmas and a very prosperous New Year to all our readers

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CHAMBER MATTERS

THE BUSINESS MAGAZINE FOR THE ISLE OF WIGHT

AWARD WINNERS NatWest New Business Award: Wightquote. Highly Commended: Gardenia Florists, and Whitefield Forest Touring Park.

Paul Mitchell of NatWest presenting to Wightquote

Lloyds TSB Commercial IW Lottery Small Business Award: ICR Touch. Highly Commended: Betapak Limited, and IW Steam Railway. UKTI International Business Award: Strainstall Group Limited. Highly Commended: Milmega Limited, and Vikoma International Limited. Southern Vectis Green Business Award: The Really Green Holiday Company. Highly Commended: Crossprint Limited, and Etetra. Wightlink Employee Development Award: The Island Day Nurseries. Highly Commended: Betapak Limited, and Strainstall UK Limited. Red Funnel Distribution Business in the Community Award: Southern Vectis. Highly Commended: IW Steam Railway, and WP Recruitment. Inflight Peripherals Manufacturing and Technology Award: Vikoma International. Highly Commended: ICR Touch, and Strainstall UK Limited. GoWight Tourism and Leisure Business Award: Seaview Wildlife Encounter. Highly Commended: IW Steam Railway, and Vintage Vacations. Red Funnel Holidays Accommodation and Hospitality Award: The Really Green Holiday Company. Highly Commended: IW Luxury Apartments, and Parterre Apartments. HTP Retail and Service Industry Award: Gardenia Florists. Highly Commended: ICR Touch, and the Real Island Food Company. Isle of Wight County Press Professional and Business Services Award: Crossprint Limited. Highly Commended: ICR Touch, and Wightquote. 32

Marc Morgan Huws of Southern Vectis presenting to The Really Green Holiday Company A three-pronged fire dancer

And the winner is...

Clive Tilley of Wightlink presents to the Island Day Nurseries team

Kevin Wilson reports Three hundred people came together to celebrate the best of Island business at the Isle of Wight Chamber of Commerce, Tourism and Industry Business Awards for Excellence.

here was a party atmosphere at Cowes Yacht Haven, as well as some nail-biting moments as shortlisted businesses waited to hear the final results. The Chamberâ&#x20AC;&#x2122;s special awards were presented by Chamber President Steve Porter to Vikoma International (Business of the Year Award); Southern Vectis (Member of the Year Award); and John Giddings (Business Person of the Year Award). In keeping with the fire and ice theme, fire breathers and an ice queen teamed up with jazz and dance bands to provide high quality entertainment, and a prize draw raised more than ÂŁ830 for LACES, which cares for looked after children on the Island. Draw prizes were donated by Isle of Wight Radio, Southern Vectis, Seaview Wildlife Encounter, Bookers, Tesco, Godshill Cider Company, Flowers by Nic, and Bagel Wrap.

Marc Morgan Huws receives the Business in the Community Award from James Fulford, of Red Funnel David Groocock of IW Chamber presents to Seaview Wildlife Encounter

Rachel Fidler of HTP (centre) with Gardenia Florists

Steve Porter, president of IW Chamber, with Vikoma International, Business of the Year

Merry Christmas and a very prosperous New Year to all our readers

DECEMBER 2009 - JANUARY 2010

DIARY NOTES AND CHAMBER EVENT CALENDAR

Check our online calendar at www.islandbusinessonline.co.uk for updated event information

The power of the network

do try to arrange events which create opportunities for people to informally spread the message about what they do, as well as for those who simply want to unwind in good company,” she said. “We also try to provide a mix of events, some of which feature a talk or presentation with time for questions, and others which are simply a chance to enjoy the food and company.

Network: An extended group of people with similar interests or concerns who interact and remain in informal contact for mutual assistance or support. Networking: To interact or engage in informal communication with others for mutual assistance or support. Whichever way you look at it, the Isle of Wight Chamber of Commerce, Tourism and Industry has lined up plenty of opportunities to network, interact, enjoy informal contact, or simply to have a relaxing break from the pressures of business in 2010. It’s an extra special year because it marks the Chamber’s centenary, and the organisation is keen to share it with as many members and

OTHER EVENTS

CHAMBER MATTERS

would-be members as possible. The Chamber is particularly looking forward to its centenary event, and full details of this will be provided early in the New Year, along with details of the popular Tourism Open Day. The Chamber’s ‘prestige’ events, such as the Cowes Week Ball (August), its annual general meeting (October), and the Business Awards gala night (November), will also be taking place. Some dates for your diary are listed on this page, and if the first few months of the year are anything to go by, it should be quite a year. There’s nothing quite so sociable as sharing a meal, and the Chamber’s calendar includes a number of

occasions when good food and good company combine to make for an enjoyable evening. Hundreds of business representatives took part in Chamber events in 2009, ranging from tree climbing to quiz nights to an exclusive journey on the Santa special at Isle of Wight Steam Railway, and feedback from members has helped to shape the programme for the first half of next year. Chamber membership officer Kerstine Andrews said the events programme was designed to deliver what she calls ‘networking plus’. “Networking is important to businesses, but we know that the term networking can put some people off, so we

“Our programme also provides a showcase for the members who invite us to use their premises, and we are always keen to hear from organisations with an idea for an event.” Please note that places are reserved on a first come, first served basis, and all events must be pre-booked. Simply send a message with your contact details and the number of places required to chamber@iwchamber. co.uk or call 01983 520777. The Chamber will hold places for those who book in advance, but requires at least a week’s notice of cancellation, otherwise it reserves the right not to provide a full refund. Keep checking the Chamber website at www.iwchamber.co.uk for up to date listings, including starting times and prices.

Thursday, 10 December The Southern Vectis Challenge Young Chamber event www.iwchamber.co.uk

Thursday, 14 January The Into the Blue Challenge Young Chamber event www.iwchamber.co.uk

Wednesday, 9 December Chancellor of the Exchequer's Pre-Budget Report What will the Chancellor have in store for businesses?

Wednesday, 16 December Developing your Business Sales, Partners and Channels 1600-1830, Portsmouth Technopole, Contact Innovation and Growth team 01489 889 882

Thursday, 21 January Business Link - Foundations for Success Workshop The Riverside Centre, Newport at 1400 Tel 0845 600 9006

Thursday, 10 December Identifying new markets Venue: START Fareham, 1600-1830, Contact Katy Patterson on 01489 889 882

Saturday, 9 January Business Link - Foundations for Success Workshop The Riverside Centre, Newport at 1000 Tel 0845 600 9006

Monday, 7 December Marketing Magic Lakeside Hotel, Wootton Bridge, 1730-2000, Contact Business Link 0845 6009006

www.islandbusinessonline.co.uk

DIARY CHAMBER EVENTS 8 December Chamber Christmas Special Steam Train event Free event for Chamber members chamber@iwchamber.co.uk 10 & 17 December Isle of Wight Lottery Business Start Up programme ½ day course 0930-1230 enquiries@isleofwightlottery.com 21 December Isle of Wight Lottery Business Start Up programme full day course 0930-1630 enquiries@isleofwightlottery.com 27 January Bookers Open Evening, Sandown 1600–1800 2 February Supper at The Garlic Farm £11.00 pp; 1900 5 March Centenary Event 10 March Tourism Open Day 16 March Real Fish & Chips at The New Inn £8.95pp; 1830–2100 1 April Michelangelo’s, Ryde Price tbc; 1830–2100 20 April Curry & Quiz at The Windmill, Bembridge £6.95pp; 1830–2100 4 May Evening at The Blacksmiths Price tbc; 1830–2100 14 May Chamber Golf Day, Sandown and Shanklin Golf Club 18 May Steak Sizzler Special at The Horse & Groom £7.00pp; 1830–2100 33

CHAMBER MATTERS

THE BUSINESS MAGAZINE FOR THE ISLE OF WIGHT

hamber Health nurse manager Lynette Herbst moved to the Island from South Africa, and has never looked back. Lynette brought with her many years experience of delivering health services in South Africa, where she worked in occupational health, carried out large scale health screening, and managed the accreditation process for the country’s largest hospital. Now she is looking forward to helping Chamber Health extend its range of services so it can provide vital health screening to more people. Lynette took up the post last month, leading a team of two nurses, and she says quality and customer service is top of her list of priorities. “We want to reach the people who choose not to visit their GP, for whatever reason,” she said. “Chamber Health takes health screening to them, often at their workplace, and the number of

Chamber People

cases we have discovered and referred to a GP shows that the system works. “In the future, I would like to see us extending the scope of our screening, so that we include general well-being and mental health, and also partner up with dentists and opticians, for example. “I am pleased and proud to be working for Chamber Health, and with the Island NHS. We are setting a fine national example and creating a lot of interest around the country, as well as making a difference to people’s lives locally.” Lynette’s love of health care has been passed on to her daughter, who is now studying health and social care at Isle of Wight College. Lynette moved to the Island in 2004 and is already hooked. She said: “I love the Island, and still can’t quite get over how beautiful it is. I am out walking and cycling whenever I can, soaking up the scenery.”

NEW MEMBERS Elgar Lodge 01983 564083 princess_vespa@hotmail.com 90 West Street, Ryde Isle of Wight PO33 2NN Self catering holiday apartment for 2-4 people. Set in the heart of Ryde town and close to all amenities. Stable Signs Tel 01983 840072 Fax 01983 840072 design@stablecreative.co.uk www.stablecreative.co.uk Lower Yard Farm, Godshill Isle of Wight PO38 3LY Graphic design and sign making company - design / print / web / marketing / 3D modelling / signage. Blushing Blooms Telephone Number: 01983 612367 jojo1452008@hotmail.co.uk www.blushing-blooms.co.uk 4 The Colonade, Ryde Isle of Wight PO33 2NE Florist. Beautiful flowers for all occasions. Qualified florist - wedding flowers, decoration of churches, marquees, bouquets and baskets, personalised hampers, funeral flowers, home visits. Hire service available. Curraghmore Hotel Telephone Number: 01983 862605 info@curraghmorehotel.co.uk www.curraghmorehotel.co.uk 22 Hope Road, Shanklin Isle of Wight PO37 6EA 22 bedroom hotel offering half board accommodation. 10% discount for Chamber members. Humphray Associates Telephone Number: 01983 872257 Email Address: mhumphray@aol.com 1 Solent Landing 34

Beach Road, Bembridge Isle of Wight PO35 5NZ Property development. Industrial rentals, towing and camping field. Shred-It UK Ltd Telephone Number: 02392 654100 Fax Number: 02392 657461 martyn.sheriden@shredit.com www.shredit.co.uk Unit 7, The Nelson Centre Portfield Road, Portsmouth Hants. PO3 5SF Onsite confidential document destruction and recycling services. Warings Contractors Limited 023 9269 4900 gordona@waringsgroup.com www.waringsgroup.com Gatcombe House Hilsea, Portsmouth Hants. PO2 OTU Building contractors covering southern England. Part of Bouygues Global. Company work mainly for BAA, MOD, Universities, etc. Mariners Telephone Number: 020 8994 0856 12 Harbour View, West Cowes Isle of Wight PO31 7RJ Self catering accommodation in Cowes. Modern cottage that sleeps 6. Family friendly. Pets welcome. Weekend breaks offered. Discounts for smaller groups. Wight Mountain Telephone Number: 01983 520530 wightmountain@aol.com www.wightmountain.com

31 Orchard Street, Newport Isle of Wight PO30 1JZ Sales, spares, and repairs on all bikes. Ocean View Hotel andy.kinnaird@btconnect.com www.holdsworthhotels.co.uk Park Road, Shanklin Isle of Wight PO37 6BB Privately owned leisure hotel, offering magnificent views across Sandown Bay. The hotel provides a number of bedrooms with seaviews and balconies. Large in-house leisure centre and snooker room. Mottistone Manor Farmhouse Telephone Number: 01983 740207 yvonne@bolthols.co.uk www.bolthols.co.uk Mottistone Isle of Wight PO30 4ED A tranquil B&B amongst beautiful surroundings, Mottistone Manor Farmhouse is surrounded by a rural landscape between hillsides and seashore in the picturesque hamlet of Mottistone. Parts of the house date back to the 17th century. It is set in one and a half acres of garden with views to the sea, and is just 150 metres from some of the most glorious walks with views over the Island. This is a high quality B&B, with a four star rating. A warm welcome awaits you. Harry Ferguson Farms Ltd/Kings Manor Farms Telephone Number: 01983 756050 susiesheld@hotmail.com www.kingsmanorfarm.co.uk Kings Manor Copse Lane, Freshwater

Isle of Wight PO40 9TL Kings Manor Farm is an organic arable and livestock farm situated on the Yar Estuary in Freshwater. The estate includes the Kings Manor Farm Shop and Cafe, Kings Lodge 5-star self-catering holiday accommodation, the Ferguson family museum and education and conference facilities. Universal Savings Ltd 01983 811011 tony@universalsavings.co.uk www.universalsavings.biz Provincial House 3 High Street, Ryde Isle of Wight PO33 2PN Established in 2002, and based in Ryde, we're an Ofcom Registered reseller of communication services. We resell services from a number of Tier 1 carriers including BT Wholesale. We specialise in voice services and products such as business grade VOIP hosted telephone systems, Sip Trunks, Line Rentals and Mobile solutions. Additionally we provide a range of value added services such as web hosting, web design, web marketing (SEO), all provided through a single contact and one convenient monthly bill. SYK Solutions Ltd Telephone Number: 02380 623 777 martin.cox@syksolutions.com www.syksolutions.com Unit 2, Tower Industrial Estate Tower Lane, EASTLEIGH

Merry Christmas and a very prosperous New Year to all our readers

CHAMBER MATTERS

DECEMBER 2009 - JANUARY 2010

NEW MEMBERS Hants. SO50 6NZ Warehousing, storage, logistics and consolidation solutions. Freight, packing and forwarding. Sailspy Telephone Number: 01983 298933 hello@sailspy.com www.sailspy.com/cowesapartment Apartment 3 8E Consort Road, Cowes Isle of Wight PO31 7SQ 2 bed apartment in Cowes.

Isle of Wight PO37 6RF Self catering holiday apartments. Owl And Monkey Haven Telephone Number: 01983 524003 dwickes@gcsthrapston.co.uk www.owlandmonkeyhaven.co.uk Five Acres Farm Staplers Road Newport Isle of Wight PO30 2NB Animal Tourist attraction.

The George Hotel Telephone Number: 01983 760331 rachel@thegeorge.co.uk www.thegeorge.co.uk Quay Street Yarmouth Isle of Wight PO412 OPE Hotel, accommodation, restaurant, bar, conference / meeting facilities. JLW Recovery Solutions Ltd Telephone Number: 01983 558602 info@jlwrecoverysolutions.com www.jlwrecoverysolutions.com 64 Fairlee Road

Luccombe Villa Telephone Number: 01983 862825 info@luccombevilla.co.uk www.luccombevilla.co.uk 9 Popham Road, Shanklin

Newport Isle of Wight, PO30 2EJ * Receivable management * Credit Control * Consultancy

Sea Stone Presentations 01983 613123 ssp.co.uk@gmail.com 5 Yelfs Road Ryde Isle of Wight PO33 2LY Powerpoint presentation design.

CLASSIFIEDS Our Classified section is the perfect place to advertise your products and services. It's also incredibly cost-effective with a classified ad costing from just ÂŁ8 per column centimetre. Call 01983 245505 to book your classified advert. ACCOUNTANTS

SECRETARIAL SERVICES

Harrison Black Pyle House, 136/7 Pyle Street, Newport PO3O 1JW 01983 524731 info@harrisonblack.co.uk www.harrisonblack.co.uk

Oniva Ltd, 30 Egerton Road, Bembridge, IOW, PO35 5RJ Tel: 01983 875551 sallyj@onivaltd.com www.onivaltd.com

Garbetts Arnold House, 2 New Road, Brading, Sandown PO36 0DT 01983 400350 office@garbetts.com www.garbetts.com/

The Isle of Wight College Medina Way, Newport, Isle of Wight, PO30 5TA, UK Tel: 01983 526631 info@iwcollege.ac.uk

FINANCE Lloyds Bank Newport Business Centre, 22 St Thomas Square, Newport PO3O 1SQ 0800 056 0056 www.lloydstsbbusiness.com ICT PC Consultants Unit 1 Enterprise Court, Ryde Isle of WIght PO33 1BD 01983 811711 sales@pcctechservices.co.uk www.pcctechservices.co.uk

www.islandbusinessonline.co.uk

TRAINING

RECRUITMENT Bailey Finch Associates 58 The Mall, Carisbrooke Road Newport, Isle of Wight PO30 1BW Tel: 01983 402895 enquiries@baileyfinch.co.uk www.baileyfinch.co.uk WP Recruitment Corner House, 68-70 Lugley Street, Newport Isle of Wight PO30 5ET 01983 822615 info@wprecruitment.co.uk www.wprecruitment.co.uk

Trust us, we know Commercial

Commercial friendly service local knowledge

www.hose-rhodes-dickson.co.uk

01983527727

CHANGING TIMES

REALLYUSEFULBUSINESSSTUFF

THE BACK PAGE Our RUBS section is where we'll pass on stuff we come across that we think is really useful - it does what it says on the tin! If you have a tip that you think is really useful let us know and we'll share it here. GOOD ADVICE Watch out for fake websites – beware of the copycats. Fake websites are a growing problem and online shoppers are being ripped off. Check the URL – a good way to identify if you are on the right site is by the URL – if there's a spelling mistake you are on a fake site. Don’t lose out this Christmas! VAT price rise – due to return to 17.5% in January so if you have a big purchase to make, get it in before January to save 2.5%. USEFUL STUFF Apple Store printer offer – http://store.apple.com/uk Save £60 on the price of a printer at the Apple Store – plus other great seasonal offers. Business Link tax breaks advice – www.businesslink.gov.uk Don’t miss out on the tax breaks for your business. All businesses, including unincorporated, self-assessed sole traders should be aware of some of the tax breaks that exist to help businesses survive the recession. Enterprise UK Community – www.enterpriseuk.org Not sure how to turn your idea into reality? Then join the Enterprise UK Community for banter, inspiration, and networking. Big Issue Invest – www.bigissueinvest.com Big Issue Invest is a specialised provider of finance to social enterprises or trading arms of charities that are finding business solutions that create social and environmental transformation.

Cartoonist: Rupert Besley

THE BUSINESS MAGAZINE FOR THE ISLE OF WIGHT

Scavenger – www.scavenger.net Over 640 reports and guides to help you research a business idea, start up and run a new business. Trend Micro – www.trendmicro.co.uk With new threats said to emerge every two seconds sign-up for a FREE 30-day trial of Trend Micro’s Business Security and protect your business – no extra hardware and minimal administration. Regus – www.regus.co.uk One month free trial of a Regus Virtual Office . XLN – www.xlntelecom.co.uk Reduce your start-up costs. Bundle your phone and broadband. The Big City Guide – www.bcglocations.com/index.html This guide is aimed at the increasing number of commercial organisations and individuals worldwide looking beyond their natural borders into new markets and the opportunities they offer.

Steve Blamire is known as a free-thinking and sometimes radical business consultant who contributes innovation and an inventive flair. In Steve’s monthly column, here and on Island Business Online, he’ll be musing on a wide range of subjects. Contact Steve at steve@steveblamire.co.uk

The Beard Trimmer

his summer I decided to take a sabbatical. After an extended run in the ‘ratrace’ I donned my sandals, grew a beard and generally let it all go for a few months. I even embarked on a quasi-religious journey becoming an ordained ‘Priest of the latterday Dude’ or ‘Dudeism’ as it is collectively known. The sea and the garden became my larder and with the odd barter I managed a few luxuries. Steve was at peace. Life was wonderful. Then the sun went in, the rocket began to wither and the daily meal of fresh mackerel became a little monotonous. Faced with a bleak winter ahead it was time to hang up the cloak of Dudeism, trim the wild beard and re-enter where I had left off. So first stop Boots for a beard trimmer, where I’m greeted by a vast array of devices. Which would the Dude choose? Something simple and robust I guess? Then the god of consumerism sucks me in, should I opt for the one with five attachments or nine? So ignoring my inner-dude I settle on the Phillips number with nine, yes nine, attachments. On returning home I begin to review my failure. I now have a beard trimmer with eight more attachments than I need. It was the first commandment laid down by the god of consumerism; thou shall succumb to the notion of perceived value. I opted for the model with nine attachments, as it seemed much better value, although I only needed one. The same principles are at work in virtually every major retail store in the UK. If, for example, I want one nail I could pop into

Hursts & Son and probably buy one nail for one penny. But if I take a trip to B&Q I can purchase a hundred nails for ten pence. I think, wow, I can get an extra ninety-nine nails for just nine pence more … but, hang on, I only need one nail? The local butcher offers another good example, I live alone so only ever need meat for one, whereas the local supermarket only offers pre-packed meat for two. On top of this, the other day the butcher didn’t have the cut I wanted; but instead of having to change my cooking arrangements they simply suggested what turned out to be a better cut. A service I’m sure super-stackerJonny-one-star would not have been able to provide. So there you have it, my brief case in support of independent businesses. Although there is a flaw in my argument. As my life has regained momentum I have, on occasion, reverted back to the convenience of the supermarket. And it is simply that – convenience. Supermarkets recognised our changing lifestyles and responded by opening later and at weekends. So the slow death of the local high street can be partially attributed to independent businesses not responding to our needs. So local businesses, why not meet us half way – we will find more time around our busy lives to fit you in if, in return, you make changes to accommodate us. Maybe opening late once a week? And eventually adopting more European opening hours? I look forward to the day I get the chance to walk into Hursts early evening and ask for a trimmer – a trimmer for beards that is.

Merry Christmas and a very prosperous New Year to all our readers

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2010

The Islandâ&#x20AC;&#x2122;s catering and hospitality exhibition

An unrivalled exhibition of products and services from local manufacturers and suppliers Island Expo, the Islandâ&#x20AC;&#x2122;s largest annual hospitality and catering exhibition, returns for its 3rd year in February 2010. The exhibition provides a unique and rare opportunity to experience a vibrant trade show with a wide range of products, services, new launches, live demonstrations and inspirational features. All from the leading manufacturers and suppliers in the local industry.

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The Events Centre

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