Pub-tie vote is significant for landlords 3 Play a part in Surrey’s business success story 4 Start-ups put forward £30m pitches 5 Prime Minister enjoys a taste of Surrey 7 December 2014
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Black Friday is bargain day High Street retailers see a brisk trade as eager shoppers take advantage of American tradition that has crossed the Atlantic By Jennifer Morris
jennifer.morris@trinitymirror.com
Although there was not the mad scramble witnessed elsewhere in the country, shoppers in Guildford High Street took advantage of stores reducing their prices for Black Friday and the following weekend. American chains such as Gap decided to reduce their prices by half (inset).
Seemingly out of nowhere, Black Friday exploded into our consciousness in the UK last week, but how far did the huge shopping event have an impact in West Surrey? The tradition, which began in the USA and is held each year on the Friday after Thanksgiving, sees retailers drop prices for one day. For this year’s Black Friday – on November 28 – many businesses in Britain decided to jump on the bandwagon. In some supermarkets the event turned otherwise rational and mild-mannered shoppers into feral-like bargain hunters, with some even scrapping in the aisles. Police in Guildford said they had arrested a man in TK Maxx for ‘label swapping’, adding on Twitter: “It’s Black Friday, just pay for it”. However, last year Guildford was found by the Royal Mail to be the ninth-busiest location in the UK for online seasonal shopping, suggesting consumers would be staying away from the stores. There was a broad range of retailers taking part in Black Friday in the county town, as well as in Woking and some of the smaller towns, with the majority offering discounts across the whole weekend. The larger American stores were promoting the most heavily. Gap, for example, had 50% off everything. Debenhams, Boots and
Jack Wills were among the shops offering big discounts, and the larger Asda stores in Woking also took part. Nick Williams, store manager at Gap, said: “Black Friday was the best trading day we have ever had at the store in Guildford. Having a consistent offer across the store added to its success.” Despite this, it seems the people of West Surrey are not yet ready to queue up for their bargains in the High Street at the crack of dawn – Guildford was fairly empty at 9am.
‘Businesses enjoyed a healthy kick-start to the Christmas trading build-up.’ Amanda Masters BID Experience Guildford Karen Oglesbury, 56, from Dorking, was out shopping on the day. “We didn’t know it was Black Friday, we just came for a rare shopping day,” she said. “I think people will come shopping when they need to, not when they’re told to. “And to be honest, I haven’t seen that many sales on.” Vik Howarth, 67, from Burpham, added: “I didn’t even know what Black Friday was. It is American and probably won’t have the same popularity over here, but sales will always draw customers.” Amanda Masters, general manager at Business Improv-
ement District (BID) Experience Guildford, said: “Black Friday had a massive impact in Guildford this year. It wasn’t just retailers involved – many of the town’s food and drink businesses had some great incentives to maximise the day. All in all a busy shopping day in Guildford. “Happy bargain hunters went home with some fabulous purchases and the town’s businesses enjoyed a healthy kick-start to the Christmas trading build-up.” Meanwhile, the BID is gearing up to celebrate small businesses tomorrow (Saturday). The event, in its second year, is a national initiative aiming to support, inspire and promote small businesses. Research conducted for the Federation of Small Businesses found that for every £1 spent locally, 50p to 70p re-circulates back to the community, providing a healthy and valuable injection to the local economy. MP Anne Milton will be visiting a selection of the town’s small businesses tomorrow. She said: “Local small businesses provide a hugely positive impact to the wellbeing of our area. “Their contributions to the local economy, along with the employment opportunities they provide, all add to the vitality and success of our town. I want to congratulate all those who work so hard in small businesses and encourage everyone to shop locally for goods and services.”
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December 2014
My first job A MERGER has been announced between two accountancy firms after Wilkins Kennedy LLP’s Guildford office joined forces with McPherson’s, based in Chertsey Street. McPherson’s has offered accountancy services to small and medium-sized businesses from London to the south coast for the last 25 years. As of November 19, McPherson’s staff joined Wilkins Kennedy, bringing a further range of services to the company’s portfolio. Ken Young, a partner for Wilkins Kennedy Guildford, said: “McPherson’s is a well-established name in the accountancy field in its own right, so merging with Wilkins Kennedy makes for a good match and will bring a number of new opportunities to us. We’d like to take the chance to say welcome on board to the new staff from the McPherson’s team.” Keith McPherson, the owner of McPherson Accountancy, said: “We’re so pleased to be merging with one of the top names in the accounting industry and a smooth and simple process made the transaction even easier. We are looking forward to our future.” A WITLEY video production company has topped off its new roof with a ceremony to celebrate more than three months of work. Wizard video production company has spent £45,000 over a 13-week period to refurbish their offices and repair the roof. Managing director of Wizard Video Productions, Patricia Ellis, said: “It was no mean feat and we are so delighted it has nearly finished. “Our roofing company, Meadmont had quite a task re-roofing and insulating the 18th Century property as some of the original tiles were still in place, fixed by wooden pegs. “The project re-used the old and added some reclaimed tiles to keep the character of the property, which is very central to Witley as it was once used as the local workhouse.” GODALMING’S Aegis Data has announced that Tim Bawtree has joined its board as a nonexecutive director. The company works with data centres to provide the most efficient use of space, power and cooling. “I am delighted to have joined the board of Aegis Data”, said Mr Bawtree. “It is a very exciting company with one of the most innovative facilities and attractive offerings in the UK market. As this sector continues to become increasingly competitive, the industry is demanding better value, efficiency and transparency.” With more than 17 years’ experience, Mr Bawtree has worked with a number of leading organisations in the data centre and technology sector. “Having Tim join our board is a huge endorsement of what we are looking to achieve,” said Gerald Pawsey, chief executive of Aegis Data Ltd. “Tim brings with him a wealth of industry experience and credibility, and we are looking forward to a successful 2015.” Aegis Data’s new state-of-the-art data centre, Aegis One, will begin operations with its first customer this month.
Graham Coy, partner and head of the family team at Mundays law firm, in Cobham What was your first job? I was 16, fresh-faced and rather naïve, and I worked in a furniture warehouse in Bristol throughout a summer school holiday. Later I worked night shifts in a plasticine factory, then in a factory making oil drums and another job driving forklift trucks. I was the first in my family to go to university and, having obtained a law degree, my first full-time job was an article clerk in central London, earning just £20 per week. How did you get from there to where you are today? After I qualified as a solicitor, I worked for a large firm in Croydon and specialised in family law. My experience widened as I met and advised clients from a whole host of different backgrounds. Then, on St Patrick’s Day 2003, I joined Mundays in
Cobham to head their family law department. Over the next 11 years we built up, together, an excellent team of specialist family lawyers. Our abilities have been recognised by the two leading directors of law firms in the country, and we have consistently been awarded top tier status. What lessons has your career taught you? I have learnt never to jump to conclusions. To listen, get to know my clients and what they want to achieve. Always to be honest and realistic. What does the future hold? The legal profession is nearly unrecognisable from what it was when I first qualified. It is the better for it. Solicitors are now facing more challenges than ever before. Family Law itself never stands still, which is one of the things which makes it so
Graham Coy, head of the family team at Mundays.
interesting and challenging. Family has to keep pace with changes in society and the demands of its clients. I think we will soon see fewer but larger firms, as well as some very specialist firms concentrating on just one or two areas of law.
Mundays was founded 50 years ago, close to its current office. The firm has grown from providing services locally to working for national and international clients. Many of its lawyers have worked at large city firms.
Baking business has the right ingredients for a perfect rise Editorial Director Marnie Wilson Group Deputy Editor Mark Miseldine Business News Jennifer Morris Commercial Manager Amanda Ducas Regional Sales Manager Ian Bresman
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THE sweet smell of success has been wafting from an Esher kitchen as a home baking business booms. Jennifer Sutton launched Jen’s Cupcakery in 2010 after baking a successful batch of cakes while she pondered her future following redundancy. Now, not only has she reached the finals of a national baking competition, she has been named one of only 100 small businesses in the UK to be profiled online for Small Business Saturday. Ms Sutton said: “As a small business owner there is often little budget for advertising, so it is a great boost to have been
selected and to receive this welcome publicity. “Small Business Saturday itself falls on our regular Walton Farmers’ Market day where we will be selling some specially made SBS cupcakes and, as business is booming, I will be launching a search for an intern too.” Small Business Saturday is a grassroots campaign that has attracted support from American Express and MPs such as Chuka Umunna. Each day in the 100 days leading up to December 6, the campaign profiles a different small business online through social media.
Starting from her home kitchen, Ms Sutton secured a regular pitch at Walton’s farmers’ market and has since grown from strength to strength. She said: “This business was really my first foray into baking. I was never one to bake and really didn’t know I could do it. “I thought the worst that could happen is no one liked my cakes, but somebody saw my samples and loved them, and it just went from there. “I spend my days covered in icing sugar and loving every minute of it. What I love most
though is putting a smile on happy customer’s faces. I would never look back now.” Ms Sutton still works on her own, supplying the Dorking Halls café with all their cakes, alongside private and corporate clients. So far, the company’s biggest claim to fame is making Michelin-starred chef Jean-Christophe Novelli’s birthday cake. As well as her range of cupcakes, including a limoncello flavour, Ms Sutton bakes biscuits, cake pops and wedding cakes. Her latest venture, the cake in a jar, can even be sent by post.
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Jennifer Sutton, of Jen’s Cupcakery, with a fresh delivery of cakes at Dorking Halls café, has been promoted online through the Small Business Saturday campaign.
MPs’ pub-tie vote is significant for Surrey landlords By Jennifer Morris
jennifer.morris@trinitymirror.com Members of Parliament voted to end the age old beer tie last month, in what is being described as a ‘historic day’ for the pub industry. Pubs of all types are a big part of Surrey’s business make-up; the amendment would affect the 20,800 of Britain’s 48,000 pubs that are subject to such ‘ties’ – rules that force tenants to pay the ‘pubcos’, such as Enterprise Inns and Punch Taverns, higher prices than non-tenants for their drinks. Non-tied pubs often pay considerably lower prices for their beverages, whereas the tenants of tied pubs will pay lower rents but higher prices for their beer and other drinks. Critics say this leaves the majority of publicans earning less than the minimum wage. Research by the Federation of Small Businesses (FSB) suggests, on the whole, landlords want to call time on the big pub-owning companies’ power over beer prices. The research surveyed 500 tied pub landlords, asking what they thought about how much rent they pay and how much of the profits the pubco takes. Respondents to the survey said if they could be free they would give more choice to their customers, with 62% claiming they would stock a greater range of beers. Almost all respondents, 91%, said they would approach microbreweries for products. Reacting to the House of Commons vote on Tuesday
Richard Jaehme, landlord of The Keystone in Guildford, believes the recent vote in Westminster to amend the rules on pub ties will not revitalise the market.
November 18, Antonio Falco, FSB regional chairman, said: “This has been a major campaign for the FSB and this vote is a big win for us. “It is a historic day for tied publicans who look forward to a more open and competitive marketplace. The freedom to stock a wider range of beers will provide a boost to local economies while giving consumers greater choice. “We call on government to support this decision and for all parties to back publicans in their respective 2015 election manifestos.” However, chairman of Guildford Pub Watch, Jane Lyons, of The Keep, in Castle Street, thinks most of Surrey’s pub tenants will not see the benefit of the decision, describing the situation as ‘varying depending on demographics’. “This will be more beneficial to pubs in less affluent areas,” she explained.
“If pubcos can no longer make the profit from beer prices, I would be extremely surprised if they don’t increase rent. In Surrey we already pay high business rates and rents, which are a set monthly payment that we have no control over. “With the current system we are able to buy the beer from the pubco as and when we need it, which is especially useful for seasonal pubs. “So if that’s taken away, we lose that control over cash flow. It’s a bit of a Catch 22. Another issue is if this goes through, the public’s perception will be that we can slash beer prices when this might not be the case. The pubcos need to make a profit so they’re going to make that money back somewhere.” Richard Jaehme, whose pub, The Keystone, in Portsmouth Road, Guildford, is part-tied, is also sceptical. He thinks taking away the
ability to ‘go in’ with a pub tie makes setting up a pub prohibitive. “Often it’s only manageable to take out the rent because it’s lower when a pubco is involved,” he said. “And if the beer tie is removed, all the business risk is transferred to the person leasing the pub. “Yes, in theory, it will give pubs more liberty, in some respects, but I think the change would see more pubs close. It is not going to revitalise the market. “Where it will help is if a pub’s already paying market rent. I’ve spoken to a number of other tied-in landlords who believe they are already paying market rent, but I personally don’t think I’m realistically paying market rent. “I’m all for giving businesses more liberty and freedom from the existing proposition, but for me I just don’t think this will change a lot.”
media followers – as well as being profiled on the millionaire’s website. Miss Shelley, who was delighted to be selected as a winner, said: “We’ve only been in business since August and building it has taken a lot of hard work.” “It’s incredible to receive this level of recognition from someone so well respected in the business world. “It’s made all the hard work worthwhile.” Pamper Parcels sells a range of pampering gifts, hand-wrapped and delivered through the post in specially designed boxes. Previous winners, including Miss Shelley, have been invited to meet Mr Paphitis at his Small Business Sunday event in January.
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The McLaren Automotive Production Centre, in Woking, where the company has honed its technical know-how.
KPMG deal allows McLaren to diversify AUDIT and tax advisors KPMG have joined forces with the McLaren Group to strengthen its services. The McLaren Group, based in Woking, will apply its McLaren Applied Technologies (MAT) predictive analytics to KPMG’s audit and advisory function. The companies have signed a 10-year agreement, meaning KPMG has become the ‘pioneer innovation partner’ of the technology brand. It is hoped that companies will be able to draw upon a combination of KPMG’s consulting and business insight, and McLaren’s technical know-how. Simon Collins, UK chairman of KPMG, said the alliance gives the firm an opportunity to accelerate the transformation of its audit and advisory businesses. “McLaren has honed sophisticated predictive analytics and technologies that can be applied to many business issues,” he said. “We believe this specialist knowledge has
the power to radically transform audit, improving quality and providing greater insight to management teams, audit committees and investors. “The same is true of our advisory services, where we believe applying McLaren’s predictive analytics and know-how to, for example, a complex international supply chain, could help our clients make a step change in the service they provide to their customers. “Initially we will work with McLaren on a select number of clients and then seek to apply these learnings more broadly across our client base. This deal marks a substantial investment by our business in audit quality and extending our advisory offering.” Ron Dennis CBE, chief executive and chairman of the McLaren Group, said the firm chose to establish working with KPMG to take its expertise into a whole new market, and to continue the rapid growth of MAT. “As well as being one of the
largest audit and advisory companies in the world, KPMG has a deserved reputation for innovation,” Mr Dennis said. “I am very excited to be working together, and by the opportunity to deliver tangible benefits to both KPMG and its clients. “McLaren has developed world class expertise in predictive analytics, high performance design and technology development. “This expertise, combined with our ethos of constant innovation, attention to detail and determination to win, enables us to complement KPMG’s already extensive capabilities. “However, this alliance is about more than just commercial opportunities. Both KPMG and McLaren have shared values of integrity and corporate responsibility. “Although we come from diverse industries, we have a lot in common and I firmly believe we can achieve great things together.”
Speakers Oscar Clark (Unity), Simon Benson (director of WWS Immersive Technology Group) and Nick Hurley (partner at Charles Russell Speechlys) led the discussions on computer gaming at Charles Russell Speechlys’ Guildford office.
Conference discusses next level for gaming industry
Dragon’s re-tweet makes hard work so worthwhile A BUSINESSWOMAN from Godalming received a boost for her company in a Twitter competition run by Dragons’ Den star Theo Paphitis. Rosie Shelley owns an online shop called Pamper Parcels that sells a range of natural, organic and fair-trade pamper boxes. The social media competition runs weekly on Twitter, where Mr Paphitis asks entrepreneurs to pitch their business in a ‘tweet’. The former television Dragon re-tweeted Miss Shelley’s 140-character pitch to his 460,000 followers, which has helped raise the profile of Pamper Parcels considerably as a result. The fledgling business has already received extra orders and gained 200 new social
December 2014
Rosie Shelley, of Godalming, has received extra orders for her online business Pamper Parcels after businessman Theo Paphitis re-tweeted her Twitter pitch.
The future of the computer gaming industry was the hot topic for discussion at an event co-hosted by a Guildford law firm. The conference was organised by Charles Russell Speechlys, a corporate law firm based at One London Square, and UK Interactive Entertainment (Ukie), a trade body for the UK computer games industry. The UK’s leading gaming industry experts, including Sony’s Simon Benson, gave presentations on the future direction of virtual reality. Unity games ‘evangelist’ Oscar Clark also shared his insight into the future sustainability of free-to-play versus paid-for games.
Nick Hurley, a partner at Charles Russell Speechlys, looked at staffing issues likely to impact developers and publishers in the future, while Jame Carwright, from the Guildford law firm, also shared his thoughts on the future of mediation and dispute resolution, and how this will affect the industry. Hot topics discussed by other speakers and delegates included the rise of eSports and its growing popularity in the UK, by Michael O’Dell of Team Dignitas, potential challenges for independent developers and the opportunity for potential collaboration of studios of all sizes. Mr Hurley said: “Given Guildford’s position as the
Hollywood of games and the Elysium of electronics, we were absolutely delighted to host the first conference of its kind for Ukie in the Guildford hub. “We wanted to look at some of the key areas that both fledgling and established local computer games organisations needed to be alive to and, judging by the range and depth of industry talent in the area, there is a lot of interest in these issues.” Charles Russell Speechlys, which employs more than 130 staff in Guildford, provides transactional, regulatory, advisory and litigation and dispute resolution services to major corporates, privatelyowned firms and individuals.
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December 2014
Play a part in Surrey’s business success story DOES your business have what it takes to be crowned the best in Surrey? It is time to celebrate the best of local business again with the return of the Toast of Surrey Business Awards 2015. Now launching for the seventh year, the awards, run by the Surrey Advertiser, mark the success of companies and businesses, both large and small, that help give the county its reputation for being the engine room that drives the nation’s economy. It is a way of saluting the spirit of entrepreneurship that is part of Surrey’s DNA. “There are some 60,000 businesses in Surrey and we contribute more to the Exchequer than any other region outside London,” said
Surrey Advertiser’s editor-inchief Marnie Wilson. “In short – we’re big and business in this county matters.” In a crowded marketplace the Toast of Surrey awards help raise the profile of local success stories. Countrywide Telecoms was one of the winners last year, scooping the Creative Industries award. PJ Farr, managing director of the Guildford firm, said the award has opened doors for the company ‘no end’ and they will be entering again this time around. Mr Farr said: “We have secured more contracts directly off the back of it, for example Land & Water, a major dredging company. “It literally happened after
we were approached after the ceremony. Regarding rural broadband, Land & Water said to us ‘we’d love you to come and do some work with us’, and it has snowballed. “It has just raised our profile no end. Being involved with Toast of Surrey is such great exposure. Even if you don’t win, getting your company’s name in the paper is brilliant. It’s all raising your brand awareness.” One of the sponsors for this year’s awards has a long association with the event and
is a previous winner – Godalming-based service provider ramsac. “We are big believers in the Toast of Surrey Awards,” said the company’s commercial director, Dan May. “As a business we won an award for the Companies with a Turnover up to £5 million category in 2011 and we were finalists the following year in the apprenticeship scheme category. “We got so much out of it and benefitted so much as a business going through the
process, gaining publicity. I can’t do anything other than encourage local businesses to enter.” Ramsac has sponsored the Toast of Surrey Awards for the past two years. Mr May continued: “I think the energy and enthusiasm of businesses in Surrey is brilliant and we should be proud of that. “The awards evening is always a great event. It’s a celebration of everything that’s made in Surrey and that’s why we are behind it.” Simon Edgley, regional managing director of Trinity Mirror Southern (pictured left), said after last year’s celebration: “The awards are all about business excellence. “It is about recognising that Surrey has a lot to offer the business community. “We are not just celebrating
The team from Peer Productions, Kudzai Sitima, Claire Knight, Bridie Kennerley, Sarah Halhead-Baker and Amy Brown were presented with last year’s award for Apprenticeship Scheme of the Year.
Richard Maybury and Janet Preston present Director of the Year winner Tom Higgins (left), of Gold-i, with his award.
the Surrey business awards, but all the businesses that make this such an inspirational county to live and to work in.”
n Details of how to enter the awards, and all of this year’s categories, can be found by visiting www.getsurrey. co.uk/ToastofSurrey.
The Toast of Surrey 2014 winners Apprenticeship Scheme of the Year Peer Productions Companies with a Turnover over £5 million Innovate Services Companies with a Turnover up to £5 million Gold-i Companies with a Turnover up to £1 million Perfect Pitch Creative Industries Award Countrywide Telecoms Director of the Year Tom Higgins (Gold-i)
Louise Punter, of Surrey Chambers of Commerce, showed her support for the nominated businesses.
International Trade Vision Engineering Ltd Mental Health and Wellbeing MMVSENSE Ltd
Social Enterprise Award ARTHOUSE Meath Young Business of the Year (trading less than 12 months) Nutriment Ltd
David Goss presents the Young Business of the Year award to Nutriment.
COMING SOON BUSINESS AWARDS
getsurrey.co.uk/ToastOfSurrey
Winners of the Companies with a Turnover up to £1 million award, Nigel and Jaz Blake of Perfect Pitch, pictured with Louise Punter, right.
Cllr Stephen Mansbridge presents the Creative Industries Award to PJ Farr of Countrywide Telecoms.
December 2014
Start-ups put forward their £30m pitches By Natasha Salmon
natasha.salmon@trinitymirror.com
Nine of Surrey’s brightest technology start-ups have competed to win £30 million of investment in a Dragons’ Den-style competition at London’s Shard. Representatives of the businesses gathered on the iconic building’s 22nd floor to pitch their designs and prototypes, which they hope will change our future for the better. The teams are part of the SETsquared innovation centre at the University of Surrey and gathered at the Accelerating Growth event on Wednesday last week. Sarah De’Lacy, director of the centre, said: “The fact that businesses within our incubator have doubled the amount of funding they have raised in the last year proves there is real appetite for investors to
partner with high-growth potential technology companies. Each of the companies from Surrey show real innovative talent and I have no doubt they will do an excellent job of pitching to the biggest and best investors.” The teams had just 10 minutes to pitch to the likes of Mercia Fund Management and Eden Ventures to win the chance of the funding. One team, Fourth State Medicine, created a wrinklebusting hand-held plasma pen for the cosmetics and wider medical markets, while Inova Design Solutions Ltd created Bodytrak – a miniature wearable device that can monitor health and performance indicators via a smartphone and other devices. Group TISICS hopes their silicon carbide fibre, which is used to reinforce titanium and aluminium, will be chosen,
but so do Red Skies Technology, who want to help improve the use of public transport in developing countries with its GPS-controlled transport system, called YoSafari. A mobile chip and pin is being created by TickVantage Ltd, a transport detection software by TavelAI and a video on demand service by VUin. Handheld devices and the way we use them are a focus for many of the groups with Crowd Connected creating a platform called CoLocator, which gathers data from a crowd’s smartphones, and an automatic photograph tagging software by Vzzual Ltd. SETsquared is a business incubation programme run by a partnership of the universities of Bath, Bristol, Exeter, Southampton and Surrey, and will see more than 20 businesses pitching. This is the 11th year of the
Hoping to make the perfect pitch: From left, David Murgatroyd (TISICS Limited), Sarah De’Lacy (director of the SETsquared Innovation Centre), Nigel Bridges (SoftIron) and David Bream (centre director, SETsquared Southampton).
showcase and the support of leading intellectual property firm Mathys & Squire has enabled Accelerating Growth to be held in the Shard, and the winners will be announ-
ced early next year. Over the last 12 years SETsquared has helped more than 1,000 businesses raise more than £1bn in investment – figures that have contributed to it being
named by the UBI as the top university business incubator in Europe, and number two in the world. SETsquared firms have raised £60m in investment in the
‘South East regional heavyweight’ law practice Penningtons Manches LLP has recruited four new partners to expand both its business and private client service offerings. Corporate partners Philip Walton and Julian Harvey, together with family law partner Veronica Gilmour, have joined from Mundays LLP, while clinical negligence partner Richard Money-Kyrle has joined from Darbys Solicitors Together with new corporate associate Chinedu Uhiara, Philip and Julian will further strengthen Penningtons Manches’ directory-ranked corporate team led by Simon Bickerdike, who is ‘highly rated by peers and clients alike’, and ‘fearsomely intellectual’ partner David Kendall. New family practice Veronica Gilmour has joined to establish a Surrey family law practice as part of the expansion of the firm’s family practice in the South East. She has 28 years’ experience in high value, complex financial cases and is recognised by Chambers UK 2015 as a Leading Individual. A Resolution accredited collaborative lawyer and member of the Surrey Resolution Committee, Veronica is also a regular contributor to Darling. She joins a strong
personal tax, trusts and probate team, led by Laura Dadswell, which is already considered to be among the best in the South East, and the new Surrey family practice will enhance the firm’s services to both domestic and international clients. High calibre clinical negligence appointment With 18 years’ experience of acting for clients across the full range of clinical negligence issues, Richard Money-Kyrle specialises in complex catastrophic injuries with particular emphasis on acting for children with cerebral palsy, patients who have suffered brain injury and those who have experienced catastrophic life-changing events due to sub-standard medical care. Richard is both a Law Society and Action Against Medical Accidents (AvMA) clinical negligence panel
solicitor and regularly lectures for AvMA on its practice and procedure course. He has served as an Association of Personal Injury Lawyers (APIL) regional secretary and group co-ordinator. Commenting on the new appointments, Penningtons Manches’ chief executive, David Raine, said: “We have been delighted with the growth of our Guildford office, which has quadrupled in size since it opened in March 2012. As well as adding strength and depth to our existing highly ranked teams, this influx of high calibre partners further confirms the market’s positive response to Penningtons Manches’ increasing commitment to Guildford and the wider Surrey community.” n For further information, please contact Simon Bickerdike on 01483 411 460, or email simon.bickerdike@ penningtons.co.uk.
last 12 months, a 100% increase on last year, and Accelerating Growth aims to boost that figure by putting start-ups face-to-face with investors and venture capitalists. Sponsor’s feature
New faces add to law firm’s strength Further strengthening the corporate team Corporate partner Philip Walton is an M&A specialist with expertise in the healthcare, aviation and logistics, IT, retail, charity, digital and real estate joint venture sectors. He was head of healthcare and head of professional training at his previous firm and has a particular interest in pharmacy, corporate governance and boardroom training for clients. Julian Harvey’s practice covers all aspects of corporate finance, mergers and acquisitions, private equity, joint ventures, franchising and share options. He also specialises in property-related acquisitions of off-shore companies and JV arrangements for residential property development. Julian has extensive international experience and has been involved with a number of cross border transactions.
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Corporate partner: Philip Walton.
Corporate partner: Julian Harvey.
Family law partner: Veronica Gilmour.
Clinical negligence partner: Richard Money-Kyrle.
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December 2014
Surrey Chambers of Commerce hosted an informative event providing delegates with all they need to know about trading with China. With the second largest economy in the world and the biggest population, China is an economic force to be reckoned with. More than 40 businesses gathered at Farnham Castle Intercultural Training Centre to hear from a panel of experts with extensive experience in their respective fields. Speakers from the ChinaBritish Business Council, UK Trade and Investment, HSBC and Farnham Castle provided attendees with a wealth of knowledge, covering issues on cultural differences across borders, access to finance for SMEs, trade missions and the vast amount of support available to businesses looking at entering the Chinese market. The panel was accompanied by three unique case studies from local SMEs, unravelling their journeys and providing invaluable information and experiences of trading with China. The evening concluded with an interactive Q&A session followed by an informal
Sean Pavone Photo 2014
China event is full of Eastern promise
Delegates gathered at Farnham Castle for a Surrey Chambers event designed to give information to businesses regarding trading with China.
networking drinks reception where, in keeping with the Chinese theme, delegates were served dim sum created by the in-house chef at Farnham Castle. Sarah Butcher, project lead for ExportSurrey at Surrey Chambers of Commerce, said: “British products are highly regarded around the world and our global profile is at an all-time high. “Only one-in-five British SMEs currently exports, so the potential for growth is enormous. “This was the first in a series of country specific events hosted by Surrey Chambers of Commerce and ExportSurrey. “The evening highlights
were the three local business case studies who gave delegates first-hand advice and experience of trading with China, adding real value to the evening. “We look forward to the next event in February 2015, which will look at doing business with India.” Surrey Chambers would like to thank all our speakers and particularly the event sponsors, HSBC, and hosts Farnham Castle Intercultural Training Centre. For more information about future events and ExportSurrey, please contact Sarah Butcher on sarah. butcher@surrey-chambers. co.uk.
An aerial view of the Pudong financial district, in Shanghai, China.
December
Tue
Surrey Chambers Christmas Lunch, Royal Holloway University, Egham. Members £45, non-members £60;
12.15pm
3pm
11 Thu
Open 18 Hole Golf Competition, Liphook Golf Club, Liphook. Members £69.17, non-members £85;
8am
5pm
11 Thu
Chamber Connections – Surrey Heath Breakfast, Camberley Theatre, Camberley. Members £10, non-members £20;
8am
9.30am
12 Fri
Winter Pimm’s in the Forest, Barossa Forest near Camberley. Members £30, non-members £30;
11am
3pm
17 Wed
Chamber Connections – Redhill and Reigate Breakfast, Reigate Hill Golf Club, Reigate. Members £10, non-members £20;
8am
9.30am
9
January
6
Tue
Business Seminar – Getting started with exporting, East Surrey College, Redhill. Members FREE, non-members FREE;
5.30pm
7.30pm
9
Fri
Badminton Networking Event, Lightwater Leisure Centre, Lightwater. Members £10, non-members £15.
6pm
8pm
To book, visit www.surrey-chambers.co.uk or call 01483 735540 (All prices are exclusive of VAT)
Women encouraged to get WISE with digital training Some 100 women in Surrey are being offered the chance to become digital entrepreneurs with the aim of setting up new businesses or transforming existing ones. Research suggests women are a vast resource of untapped business potential, and the Women’s Business Council estimates that, nationally, there could be an extra one million female entrepreneurs if women had the confidence and support to start businesses at the same rate as men. Digital Business Britain has received funding from The
Women and Broadband Challenge Fund, funded by the Government Equalities Office to support women across Surrey to improve their confidence in digital skills. The county initiative, known as Surrey WISE (Women in the Superfast Economy), provides free training for the 100 budding female entrepreneurs. Training will take the form of 10 pop-up digital business groups set up in WiFi-enabled venues across Surrey. Each group of 10 women will take part in six two-hour training workshops during
January and February, creating a social-business community under the guidance of a digital coach. They will learn to apply digital technology and knowhow to their business acumen and share ideas and experiences through social media. The project is being undertaken by Farnham-based Digital Business Britain and is fully supported by Surrey Chambers of Commerce, Surrey Connects and Surrey County Council. For more information and to apply, visit www.surreywise.co.uk.
Be part of the network - find out how Surrey Chambers of Commerce membership can help your business at www.surrey-chambers.co.uk
December 2014
Investment watch
7
Keeping an eye on the markets
Oil price rout a crude reminder of stock market risk and reward By Philip Scott
Director at SI Capital General overview
Philip Scott of SI Capital.
This report was written by Philip Scott, director at SI Capital on 2/12/14 when the FTSE 100 was trading at 6700.
It may have been Black Friday for retailers last week, but it was Red Friday for the energy sector. The inexorable slide lower in the price of Brent crude oil (39% since June) has dominated market commentary over the past month. The price is currently $70 per barrel. OPEC (which controls near 30% of world output) has not reduced supply, content to keep pumping for much needed cash (despite dwindling demand) with a convenient by-product of threatening the economic viability of American shale oil players. In what to many looks like a game of market share protection or survival of the fittest, dramatic scenes in Vienna last week saw tempers boiling over. Venezuela stormed out of the OPEC meeting, highlighting the reality that many countries in Latin America (and others like Russia and Iran) will have their budget (public) spending plans scuppered as their economies are so oil revenue dependent.
Geopolitical risk returns. The knock-on effects of lower priced oil in general will naturally hurt profits at oil companies, but also all those sector linked; oil services corporates for example. A shrinking sector implies less job creation, probably job losses as companies contract. Investment and development spend by oil majors looks set to reduce as lower margins beckon. Indeed, many companies will likely go under as costs of production exceed production proceeds owing to the low selling price of the black stuff itself. One can thus see clear global growth repercussions as a result of those negatively impacted. It also seems we are probably going to enter a new era in how the price of oil will ultimately be determined. OPEC’s influence and cartel powers will likely be reduced and we will see the birth of new bodies that will be involved in the price setting process beyond market supply and demand. The big question right now is how long lowered oil prices will remain and whether buying opportunities in the sector exist everywhere?
Some of the share price retreats in large, mid and small cap companies has been savage. Certainly, as the oil price continues to fall, one can at least expect demand to increase at some point, and this pricing environment is undoubtedly good news for oil importing countries such as China. So let us now continue to talk of the beneficiaries and benefits of an extended period of lower priced oil. After all, it is notable that the diversified FTSE 350 index of UK leading companies has fallen just 3% since June. Simplistically, a high oil price is often viewed like a tax on individuals and businesses alike, and thus there are far-reaching positive consequences in many areas of the economy as a result of price weakness. In terms of sectors set to benefit, we have already seen material and sharp increases in the prices of airline stocks. The transport and logistics sector at large should see net benefits even if companies have hedged their oil price exposure. Select manufacturing companies will see improvements
and, of course, retailers will, as consumers have more disposable income. Lower costs at the pumps and on energy bills is always welcome to the man on the street. So right now there is a tug-of-war in operation in the market between the positive economic effects resulting from lower oil prices and the negative effects as highlighted above. One thing is for certain, sector downfalls like these highlight the importance of having a diversified range of companies within a portfolio to reduce overall volatility in returns. Stock specific comment Sports Direct shares look interesting trading at 670p, having fallen from 925p in April. With a dominant market position, barriers to entry in the UK are high. The Price to Earnings ratio for next year is 17 (which is full) but the company has been a consistent deliverer of strong profit growth to date. Interim results for the FTSE 100 player are on December 11 and I predict a robust update in the run up to
Christmas. The possibility of lower oil going forward will most probably not harm their business for reasons already mentioned. While there is no income (dividend) yield on the stock (it is pure capital growth), Mike Ashley’s commercial skillset is well documented. The company will be looking at smart ways to expand the business both domestically and internationally, and I suspect current prices are attractive for investment. Thomas Cook shareholders have been dealt a blow with the shock departure of chief executive officer Harriet Green, the architect of the recovery at the business over the past two-and-a-half years. A sharp fall in the share price ensued, not helped by vague forward guidance regarding the profit growth outlook. An opportunity for the nimble to have bought shares presented as the stock has since rallied much of the lost ground. At 124p now, the valuation remains low but brokers are somewhat mixed in their views. Nonetheless, an extended period of weaker oil prices will likely assist the company’s bottom line profits.
Parliament visit allows PM a good taste of all that Surrey has to offer MPs and Lords sample county’s produce By Jennifer Morris
jennifer.morris@trinitymirror.com SURREY businesses have showcased their wares at a meet and greet with the prime minister. The ‘A Taste of Surrey’ event, held at the Houses of Parliament on Wednesday last week, was organised by Visit Surrey and Local Food Surrey, with the help of Surrey Hills Enterprises and others at the request of Guildford MP, Anne Milton. It was designed to display the county’s entrepreneurial spirit and volunteering efforts, and was held in support of rural businesses, farmers and visitor attractions. Around 150 MPs, peers and parliamentary staff turned out to taste and discover the county’s various offerings. Prime minister David Cameron also made an appearance to meet the other ambassadors for Surrey tourism,
including Kevin Lorimer, Manny Sawhney, Michael More-Molyneux and Dr Caroline Scarles from the University of Surrey, who promoted the School of Hospitality and Tourism Management’s new augmented reality programme. After the presentation of a large hamper crammed full of Surrey fare, Mr Cameron stayed to chat with business representatives including Nick Wenman from Albury Organic Vineyard; Mike Wagstaff from Greyfriars Vineyard in the Hog’s Back; Matthieu Elzinga from Litmus wines in Dorking; Lucinda Perks from The Butchers Hall in Forest Green; Tim McEntire from Food Float in Dorking; David Gillott from Four Gables Fine Dining in Ashtead; and Chris Robinson from Chalk Hills Bakery in Reigate. The prime minister sampled some Surrey wine and commented on up-coming
events in 2015, including the importance of the Armed Forces Day national event taking place in Guildford next year, as well as the 800th anniversary of Magna Carta in Runnymede. Kevin Lorimer, chairman of social enterprise Visit Surrey, said: “The visit from David Cameron was fantastic and allowed us to demonstrate Surrey’s amazing tourism, countryside and food and drink offering, as well as our innovative and entrepreneurial working. It was a hugely successful day with Visit Surrey and partners all working together to bring a display of Surrey to Parliament.” Other Surrey MPs also visited, including Chris Grayling, Michael Gove, Sir Paul Beresford, Philip Hammond and Sam Gyimah. Christine Howard, strategic director of Visit Surrey and chairman of Surrey Hills Society, said: “Today’s been
fantastic. I’m almost speechless. I can’t believe we’ve had David Cameron down to support us here today. “I’m so delighted because everyone has worked so hard to get this day together.” Tracy Carroll, founder of Local Food Surrey, said: “For quite a while we didn’t think the prime minister was going to make it after all, so when he finally turned up the excitement level was tremendous.” Mr Gillott said: “It was brilliant. Everything from getting up first thing in the morning for our vehicle to be screened and X-rayed, to meeting the prime minister himself and having a lovely chat. “We talked about our apprenticeship scheme at Four Gables and also about all our local food producers in Surrey who have done us proud today. “I couldn’t be more pleased showing off how good our food produce is locally.”
A prime offering: Prime minister David Cameron is presented with a tasty hamper by Tim McEntire (left) and Chris Robinson.
8
December 2014
Quality butchers is welcomed by coveted guild By Jennifer Morris
jennifer.morris@trinitymirror.com Quality cuts at reasonable prices have seen a butchers shop in Milford recognised by a special guild as one of the best in Britain. Black Barn Butchers, at the Secretts Farm Shop in Chapel Lane, has been made a member of the national Butchers Q Guild – a status coveted in the industry. The Q Guild brand was designed as a seal of excellence and the organisation has only 120 members spanning the country, from the Scottish Highlands to the south coast. Black Barn Butchers has only been open since March 2012 and offers butchery courses to those who are interested, complete with a practical lesson in dealing with a carcass. It prides itself on being a traditional butchers with a modern twist, aiming to provide high quality meat at
reasonable prices for its customers, and claims all its meat is sourced from high welfare quality-controlled farms. Shop manager Damon Buckingham runs the business along with director, David Mitchell. Mr Buckingham, who has been in the butchers trade since the age of 15, said: “We’ve gone from strength to strength since we opened. “We’re trying to sell quality meat at reasonable prices. “We’re showing people that excellent meat doesn’t have to be incredibly expensive.” The butchers has also introduced a loyalty card scheme and has been involved with a number of community projects, including a school sausage competition, where 60 children from the Chandler School in Whitley suggested new recipes. “Three children came into the shop and helped me make their sausages up,” explained Mr Buckingham.
“The children were very excited by that and it helps to get the community involved.” The finalists were Poppy Hanscomb with Poppy’s Ploughmans, Jenna Fowler with the Fruity Tooty and Lewis Fowler with the Boozy Banger. The winning sausage, as voted for by customers, will be sold for the next year. “The Q Guild membership is another great step forward for us,” said Mr Buckingham. “It’s that stamp of approval which gives people confidence in what we’re doing.” Sandy Boyd, general manager of the Q Guild, added: “We’re delighted to welcome Black Barn Butchers. They are an exciting new butchers and we know that their quality and innovation will sit very nicely with our long-held industryleading values.” Originally, Black Barn Butchers was purely a catering butchers under the name N M Meats, and that name still exists for the catering side
Masters of meat: From left, Tim Bicknell (apprentice), David Mitchell (director) and Damon Buckingham (shop manager).
of the business. It was only in late-2011 that Mr Mitchell approached Secretts farm shop to see if its retail unit was available.
The Q Guild describes itself as representing the highest quality butchers and independent meat retailers in the UK. Its members collecti-
vely serve £3 million worth of meat and related products to more than a quarter of a million consumers every week. The organisation describes
its members as ‘leading experts in their field’. “Quality, passion and craft skills run through their veins,” added Mr Boyd.
Awards bring anticipation ENTERPRISE First has been nominated for two National Enterprise Network Awards. The firm, which delivers business support and enterprise contracts across the South East, has been shortlisted in two categories – Enterprise Team of the Year and Unsung Hero Award. The National Enterprise Network awards recognise
excellence in the delivery of enterprise support, encouraging the exchange of good practice and the development of improved services and organisations. John Mitchell, chief executive of Enterprise First, said: “I’m delighted we have been shortlisted in two categories. We have a dedicated and hard-working team that are hugely supported by
our chairman Steve Leggett. “I am particularly pleased that his efforts have been recognised in the Unsung Hero category. “Our growing marketing team are also in with the chance of a win for Enterprise Team of the Year. We have a good track record with these awards so we’re keeping our fingers crossed.”
Fingers crossed: John Mitchell.
Defence firm creates record entry-level apprentice roles Lee Anderton (seated) and staff members Brad Tyler, Gavin Lathey, Nick Ioannou and Kevin Jubb, celebrate the independent music shop winning another award.
Five of the best strikes a chord at music shop
For the fifth year running, Andertons Music came away victorious from the Music Industry Awards – this time beating the chain stores in a public vote. The family business picked up the prize in the Best Large Retailer category at a ceremony held at Park Plaza Riverbank, in London on Tuesday November 18. From its store in Woodbridge Road, Guildford, the independent company has built a large online presence and qualified for the new category in this year’s awards. “It is nice for our 50th
year to come away with it again,” said managing director Lee Anderton. “The last four years, because it is a public vote, it was assumed independents with one store would be unable to compete with a chain with 10 sites. “There were two awards – Best Independent and Best Multiple, and that was assumed to be more prestigious. “This year they decided to change that because there are a couple of large independents – us and a some guys in Brighton. So there is best small, medium or large – with
more than £5m turnover. “There are at least four or five chain music stores with at least half a dozen sites, but it went to a public vote and we won.” The shop was opened by Harry Anderton and his son Peter in 1964, before Peter’s son Lee took over the management of the business. “Once again we have to say a huge thanks to all of our customers that voted,” said Mr Anderton. “We received a huge 30% of the votes for the whole event, so thank you to each and every one of you.”
A MAJOR technology and defence firm in Frimley has launched a new apprenticeship scheme to train the next generation of brains behind the brawn. BAE Systems is searching for new recruits to work on some of the Royal Navy’s most complex projects and expand its combat system teams in Frimley and New Malden – its largest talent trawl to date. The centres are responsible for some of the crucial technology on the navy’s fleet of state-of-the-art warships. Work on the combat systems team includes working with the high-tech equipment and IT infrastructure on board warships that provide crew members with the information and capability to operate effectively. BAE is creating a record 26 entry-level roles in Surrey next year, with successful applicants in either New Malden or Frimley. The figure includes eight graduates, eight apprentices,
A new intake of BAE apprentices will get the chance to work on the Royal Navy’s future warships, such as the Queen Elizabeth Class aircraft carriers.
nine paid summer interns and a year-long industrial placement. The scheme will create opportunities across BAE’s engineering and project management divisions. It includes joining a higher apprenticeship scheme in design, development and integration, which was launched this year with Nescot College in Epsom. A new higher apprenticeship in project management
is also being launched with Highbury College in Portsmouth. Jennifer Osbaldestin, BAE’s combat systems director for naval ships, said: “We took on our first apprentices for the team in Surrey this year and we’ve been really encouraged with the energy and dedication they have brought. “There’s a growing demand from young people for viable alternatives to university,
where they can acquire skills while earning a competitive salary. The expansion of our early careers opportunities reflects the momentum behind our programmes and the importance of these roles in securing the long-term future of our business.” Successful applicants will learn about the design, building and delivery of complex warships and their combat systems through college education and workplace training over three or four years. The apprentices will gain qualifications while they learn in subjects such as IT and telecoms. In total, BAE Systems is offering 206 early careers positions across its naval ships business in the UK in 2015. The new intake will get the chance to work on the Royal Navy’s future warships, such as the Queen Elizabeth Class aircraft carriers, River Class off-shore patrol vessels and the Type 26 Global Combat Ships.