Secret shoppers see who’s top of the shops 3 Surrey Chambers upgrades growth forecasts 4 Funding pays for TorqBak add-ons 5 Spotlight on business incubation centre 6
June 2014
getsurrey.co.uk/business in association with
MORE EMPTY SHOPS IN town Surrey Chambers says landlords must ‘think outside the box’ as the number of vacant units increases in Guildford town centre and pressure is put on the government to take action By Nick Edmondson
nick.edmondson@trinitymirror.com
A ‘wholesale review’ of business rates has been requested as the number of empty units in Guildford rises.
THE number of empty shops in Guildford is increasing as other areas of the county see fewer stores being boarded up. Figures released by the Department for Communities and Local Government revealed a small increase in unused non-domestic properties in Guildford borough between 2011/12 and 2012/13. At the time the figures were compiled, the borough had 623 properties standing unused – the equivalent of 14.2% of the authority’s non-domestic properties. This is equivalent to a 0.9% increase on the previous year. Although a small rise, the increase becomes more notable when compared to the surrounding boroughs of Mole Valley and Waverley, both of which have experienced fewer empty sites. Mole Valley has 372 empty units, the equivalent of 11.8% of properties – a decrease of 2.9%. During the same period, Waverley saw the number of empty sites drop by 7.3% to 450 – the equivalent of 11.7% of properties. The business community has been increasing pressure on central government for it to change its approach to the way it supports companies. In March, the business committee called for a ‘wholesale review’ of business rates, while concerns have been made in the borough that
fledgling companies struggle to survive when facing high rents and strong online competition. Louise Punter, CEO of the Surrey Chambers of Commerce, said local authorities and private landlords could both ‘think outside the box’ regarding rent. “The important thing is that Surrey needs to be a place that people want to visit and see a real mixture of shops.
‘Perhaps landlords could look at a rent holiday or different prices at different times in order to reward success’ Louise Punter, Surrey Chambers “I would encourage the borough council to look at its rents with any sites it can’t fit, as getting a company in there is a community investment for the future. “Perhaps landlords could look at things like a rent holiday or offering different prices at different times in order to reward success.” She added: “We have to accept that the shops that will do the best are the ones with the best following and some of those are the independents but they need all of the support they can get.” Guildford’s increase in empty shops is worsened by a mixture of high rents, business rates and expensive
parking, causing businesses to lose necessary custom, says Kate Fernandes, president of the Cranleigh Chamber of Trade and Commerce. “The parking and rates are the key points,” she said. “It can turn into a real problem for Guildford. The council can’t have it all ways. “They can’t have the rents and the rates of car parking high as people are not going to come into the borough as much to shop and that means that you have companies that can’t keep up with their costs.” She said Cranleigh was performing well, despite the recent loss of a battle to stop Betfred placing a shop in the centre of the village. “The village has a strong identity and people are aware of that, so they don’t want to see empty shops and they want to see the right ones. “We have a community that is starting to say ‘no’ to these things and that has to be positive, moving forward.” Dorking Chamber of Commerce’s Caroline Salmon said the area’s low number of empty shops did not mean they were making money. “We have affordable sites but that is not a guarantee of footfall, ours has not been great,” she said. “It comes down to how a company advertises and promotes itself. “We need people to look locally first and support these businesses – not look locally first, then buy it cheaper on the internet later.”
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June 2014
My first job ECOLOGICAL consultant Acorn Ecology Ltd has opened a new office in Guildford to strengthen its presence in the South East. Sarah Lyne will head up the new office, bringing more than 14 years of ecological consultancy experience to the branch. Acorn Ecology offers a wide range of ecological surveys for developers, architects and land owners, conducted to industry standards but tailored to the objectives of the specific project. In addition, Acorn provides professional development courses for ecologists, planners and developers. Expansion of the business into the South East is an important move for Acorn Ecology, which currently covers Devon, Cornwall, Somerset and Dorset. MOUNTAINEER and business owner Mark Pinnock will be the keynote speaker at an event in Guildford this month aimed at ambitious businesses. The Fast Growth Conference will be attended by representatives from more than 100 growing businesses, providing an opportunity for them to network and hear from leading experts and opinion-formers on business growth strategy. Speakers include The London Stock Exchange, UKTI and University of Surrey plus you will hear first-hand from other businesses that are successfully realising their growth ambitions. The conference, which has been organised by law firm DMH Stallard and GrowthAccelerator, a government-backed service led by growth specialists, takes place at the Radisson Blu Hotel in the High Street on Thursday June 19 between 8am and 1pm. Free places are available online at www.growthaccelerator.com/events. The event can be followed on twitter at #FastGrowth GUILDFORD-based independent insurance brokers Stackhouse Poland has cemented its market position through its acquisition of Coulter Hurst & Company Ltd. This latest acquisition, which takes the Stackhouse Poland Group close to the £100 million GWP barrier, extends its operating footprint from being a predominantly London and south east broker to the North West. This is a significant strategic development and creates a platform for further growth in the North West. Stackhouse Poland’s managing director, Jeremy Cary, said: “Our strategy continues to be focused on strong, organic growth in our chosen sectors and additionally via acquisition of like-minded companies. “We are really looking forward to working with their team and continuing to build our specialist business.”
From travel agent to business improvement specialist, Stuart Mitchell reflects on a career with many different horizons What was your first job? When I came down from the Lake District to study languages at university in London, I thought I had entered a different world. There was so much going on, I was thoroughly confused about what I wanted to do in life. Someone had said to me that when I graduated, the world would be my oyster. The biggest problem was, I believed them so I drifted around the job market, looking for something that would suit me. After many interviews in all sorts of fields, I settled on the travel industry and found a job working for the best-known company at the time, Thomas Cook. It gave me an opportunity to keep searching and this time, it was in a bigger sphere – the world. The trouble was, just enjoying life was not enough for me, I discovered. What made you want to do more than travel? After three years of travel, I felt called to help young people find a better way of planning their career than I
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had found, so I trained as a careers officer at university in Manchester. This made a big difference – I felt I could give back as well as enjoy the challenge of understanding what it meant to find satisfaction in a chosen career. After working for Hampshire Careers Service with school leavers and college students – including Colin Firth – I came to Guildford as the district careers officer, supporting advisers in mid-Surrey work through all their options with students. This was immensely satisfying until an opportunity for promotion came up and I decided senior management would mean leaving the front line of advice giving, so I decided to go back into the business world. What did that mean – returning to the business world? By this stage in my career, I had become fascinated by what made businesses successful – so successful they could employ some of the students I had helped to find
Stuart Mitchell from Pro-Actions.
their way in the world of work and careers. I joined a small training company in Camberley for two years, working on corporate communications at board level, before joining the Hay Group in London as business development director. Human resource management, what I like to call human capital leadership, began to fascinate me and I started a career in people management. What does the future hold? The future for me is very exciting. With my background in marketing, human resources and business
development, I work as part of a national organisation, supporting small and medium-sized businesses with the ambition and capability to grow, Pro-actions Ltd. We provide high-value, low-cost, one-to-one consultation, training workshops on specific business issues and advise on business finance and government funding opportunities. What does this remind me of? How do we climb a mountain of success, rather symbolic of just what the Lake District offers – reaching for the top of our mountain. What mountain are you climbing?
Moroccan waste water contract puts Dorking firm on the map A MOLE Valley company has been awarded a contract to supply a waste water treatment plant in Morocco. Biwater, whose head office is in Dorking, will design and construct the plant in the city of Aourir, a popular tourist destination on the coast. The project aims to reuse waste water to irrigate the grounds of hotels and golf courses in the city. The re-use system will serve more than 60,000 people, while also providing for tourists who flock to the city each year. Giles Jackson, regional director for the company in
Africa, said: “In waterstressed regions, it is becoming evermore important to consider the requirement for reuse. “It’s an issue that is not going away so we are supporting our clients in designing sustainable and appropriate technologies that will stand the test of time, here in Morocco and across the world.” A part of the district of Agadir, Aourir is one of the largest tourist destinations in the country. It attracts visitors from far and wide and surfers have been visiting Aourir’s popular ‘banana
beach’ since the 1960s. Sahraoui Abdellah, who is responsible for studies and investments in service management of water and sanitation in the region, said: “Reuse water is a priority for us as we consider how we can better serve the people and protect the environment. “This project will use the latest technologies and treatment processes to meet our needs for waste water treatment. It also provides a solution to reuse treated water for watering golf courses in the nearby resorts.” Mr Jackson added: “After the successful commissioning
of a similar project in Tamuda Bay, in the north of Morocco, we look forward to delivering a turn-key solution to Aourir. “Whis will provide immediate results, demonstrating the need for sustainable solutions that focus on resuse nationwide.” Biwater, which was formed in Kent, moved its head office to Dorking in 1971. During the past four decades it has expanded into world markets, with contracts in Indonesia, Hong Kong, Iraq and Malawi, and been given five Queen’s Awards to Industry for its export projects.
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After the successful completion of a treatment plant in Tamuda Bay, Morocco, Biwater now has a contract to create a system for Aourir, in the Agadir region.
June 2014
Secret shoppers check out the competition in pilot scheme
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In an effort to combat struggling sales, anonymous assessors visit Godalming to find out who’s top of the shops, as Jennifer Morris discovered, in the Compete on the Street initiative It is no secret that high streets are struggling and in an effort to combat this, Godalming has enlisted the help of secret shoppers. Assessors have been visiting stores unannounced in the past year to find out who is treating their customers well and whose shopping experience leaves much to be desired. Compete on the Street, which involved 41 independent stores and businesses, was designed to give the town’s economy a boost by helping retailers improve themselves, following a pilot scheme in the town in 2012. Part of the initiative’s aim was to help ensure Godalming and its facilities inspire customers to return to the town.
The scheme, run by Shoppers Anonymous, was funded by Waverley Borough Council, County Councillor Steve Cosser, Godalming Town Council and the Godalming and District Chamber of Commerce – and Shoppers Anonymous is now keen for other Surrey towns to get in on the act. It has already played out in Guildford, Dorking and Haslemere and a further programme is in the pipeline for Cranleigh. The programme was voluntary and during an awards ceremony last Thursday in the borough council’s chambers, participants praised the assessors’ brutally honest and constructive feedback. Retailers were rated on a
factors including window display, interior layout and customer service, with scores ranging from 28% at the bottom of the scale up to 95%. Shoppers Anonymous was not willing to identify the poorly performing outlets but those who scored highly were presented with certificates and awards at the ceremony. The overall retail winners, with scores of 95%, were the new Zeal Beauty, in Wharf Street, Nathan’s Leathergoods, Queen Street and COOK, in Bridge Street. Simple Investments, in High Street, was victorious in the business category. Jim Smith, of Shopper Anonymous, said: “The results were all good. There were 15% more businesses involved in
2014 than in 2012 and average customer satisfaction levels increased 4%. A total of 68% of businesses were rated as good or better and 31% more businesses rated as outstanding. “Godalming High Street has many interesting, different, attractive and independent businesses and shoppers said they would return to 88% of retailers and businesses. “Almost all participants have action points to work on to improve their business or retail offering.” John Taylor, president of the chamber and owner of Cornmeter, in Church Street, said: “My staff members did a terrific job but there are still a couple of things they could do to make it that bit better and it
Certificates and trophies for those who made the grade in the Compete on the Street campaign.
is important we pay attention to those things.” Businesses in Godalming that did not fare so well on a range of issues. These included delayed acknowledgement, a lack of name badges, building up a rapport, cross selling,
use of the business’s name and following up sales. However, they were strong in window displays, creating well-lit, clean, tidy and welcoming atmospheres, employing well-presented, polite and enthusiastic staff with
good product knowledge, saying goodbye and encouraging people to return – 88% said they would. To find our more or enlist the services of Shoppers Anonymous, visit www.shop peranonymous.co.uk.
YMCA thanks ecology firm for support and fundraising activities THOMSON Ecology has raised £1,500 for Guildford’s YMCA during six months of special events. Staff at the Guildford firm have been led in their fundraising by ecologist Leanne Wall, who organised activities including cake sales and a ‘wear a onesie to work day’. She also ran the London Marathon on behalf of YMCA in April. Nancy Thomson, CEO of Thomson Ecology, said: “I want to thank Leanne for working so hard to raise this
Nancy Thomson, of Thomson Ecology and fundraiser Leanne Wall present a cheque to Pete Brayne, Guildford YMCA.
amazing amount of money for such a worthwhile charity. “The work that the YMCA does is so important in helping to support young people who may have lost their way and need extra help to get back on their feet. “As a company, we have a lot of young staff and the aims of the YMCA really resonate with us.” Pete Brayne, of Guildford YMCA, said: “We are delighted with this fantastic donation and particularly want to thank Leanne, who has been tireless
in her support for the work we are doing with young people. “There is growing demand for housing homeless young people, the majority of whom are under 18. Most have no qualifications and lack social skills, so are very unlikely to find employment unless they receive help. This money will be put to good use.” Thomson Ecology, which is based at the Surrey Research Park, has confirmed it will continue to support the YMCA throughout this, its 10th anniversary year.
Finding the right company key for nursery sale
Busy Bees’ Marg Randles says the handover should be as seamless as possible.
Surrey’s Caring Daycare Nursery has been bought by nursery chain Busy Bees for an undisclosed fee. The privately-owned group has a portfolio of 12 nurseries in the county that offer places for children aged three months to five years. Peter Churchley, Caring Daycare Nursery Group’s sole proprietor, says he took considerable care and time in finding the right company to move the business forward. “After 14 years, we feel the time is right to let the business continue its development within a larger, professional organisation that will support
the nurseries’ rise to the next level,” he said. “We chose Busy Bees because, despite the number of nurseries it owns, they are still managed on a day-to-day basis by members of the founding families, 30 years on. “This ensures a genuine and sincere commitment to delivering the highest possible standards of childcare. Busy Bees has character and integrity, and we are confident it will support in delivering outstanding childcare, education and family services.” Following the acquisition, Busy Bees, which describes itself as the UK’s largest
childcare provider, now operates 238 nurseries and employs more than 7,600 staff. Marg Randles, its managing director, said: “We are delighted to welcome Caring Daycare, Major Minor and Noah’s Arc nurseries into the Busy Bees family and really look forward to being part of their future. “It is an absolute pleasure to work with such experienced managers and devoted staff, all of whom will continue to play the most important role, providing quality care for the children in partnership with their families. “We will continue to work
closely with the management team to ensure the handover is as seamless as possible for the children, parents and staff. “We appreciate how difficult it is to find a nursery that provides the right levels of enjoyment, education, care and safety. “It was due to a severe lack of quality nursery provision that my husband and I, along with CEO John Woodward and his wife, Lynn, sold our own homes in order to develop the very first Busy Bees nursery, along with another couple, in 1984. “Our first nursery, Busy
Bees’ The Rocklands, Lichfield, and the 237 that followed, all operate on the principle that the standard of care we demanded for our own children should be available for every family. “It is a philosophy that has helped transcend Busy Bees to one of the country’s most successful and well-respected providers of childcare.” She added: “It is our promise to keep our parents informed every step of the way, as we continue to develop the excellent care, resources and services this collection of outstanding nurseries currently offers.”
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June 2014
Chambers upgrades growth forecasts Britain is leading, rather than following, other major economies when it comes to short-term growth The British Chambers of Commerce has upgraded its growth forecasts for the next two years – from 2.8% to 3.1% in 2014 and from 2.5% to 2.7% in 2015. For 2016, our forecast is unchanged at 2.5%. With expected growth of 3.1% this year, it will be the
first time since 2007 that annual growth has been above 3%. We continue to believe that GDP will exceed its Q1 2008 pre-recession peak in Q2 2014. In Surrey, levels of growth have been well above these levels and we look forward to significantly higher figures
for the next three years. The forecast confirms that Britain is leading, rather than following, other major economies when it comes to short-term growth, with Surrey businesses providing an important driving force and contribution to these upgraded growth forecasts.
Businesses in the county have achieved this outstanding growth through hard work and determination in the face of many challenges over recent years. But we still have a lot of work to do. The task at hand is to ensure that 2014 is not ‘as good as it gets’ for the county and
UK economy. Everything possible must be done to avoid slower growth in future. We need to invest, innovate, export and build. While the Chambers forecast business investment to grow strongly during the next three years, that investment is rising from an extremely
low base. To sustain investment momentum into the future, the government and the Bank of England need to give businesses the confidence they need to invest. We urge the Bank of England to keep official interest low for as long as possible and ensure that future rate
rises are gradual and modest. Surrey Chambers urge the need for a real, long-term partnership between government and business – with ministers unblocking infrastructure, training and access to finance so businesses can commit to invest, create jobs and export.
Season of hospitality is the perfect time to network
Guildford Cricket Festival is a popular choice for businesses wishing to network.
Now we are in June, Surrey Chambers have well and truly stepped into summer with our fantastic programme of seasonal events. Entertain your clients and reward staff while meeting new business contacts in the sunshine at one of our upcoming events. Join us at one of our summer favourites, the Guildford
june
12 Thu
Chamber Connections Surrey Heath Breakfast, Café Bar Restaurants, Camberley Theatre. Members £10, non-members £20
8am
9.30am
12 Thu
Managing People – Employment Status: Managing your workforce, Canon HQ, Cockshott Hill, Reigate. Members free, non-members £25
7.45am
9.45am
19 Thu
Chamber Connections Elmbridge Breakfast The Hilton Hotel, Weybridge. Members £10, non-members £20..
8am
9.30am
24 Tue
Managing across the (digital) generations, Foxhills Resort and Spa, Ottershaw. Members free, non-members free
7.30am
9.30am
25 Wed
Chamber Connections Redhill and Reigate Breakfast, Reigate Hill Golf Club, Redhill. Members £10, non-members £20
8am
9.30am
25 Wed
Open 9-Hole Golf Competition, Reigate Heath Golf Club, Reigate. Members £35, non-members £42
5pm
9pm
25 Wed
An Evening with Adele Parks, RHS Garden Wisley. Members £20, nonmembers £30
6pm
8.30pm
26 Thu
Construction and Property Forum: The Built Environment, The Refectory, Guildford, Members £22, non-members £35
7.30am
10.30am
For more information about forthcoming events visit www.surrey-chambers.co.uk
Cricket Festival, and see Surrey 1st XI versus Kent on Monday July 21. If you are a keen golfer, join Surrey Chambers’ Golf Society and take part in the Bill Ward Memorial Cup over 18 holes at stunning Worplesdon Golf Club on Wednesday July 9. If sport isn’t your thing, our summer lunch returns to the beautiful grounds of Loseley Park on Thursday July 3. This annual celebration brings together businesses from across the county and this year Surrey Chambers will proudly introduce guest speaker Mark Ormrod, an exRoyal Marine and motivational speaker. Mark was the first triple amputee of the Afghanistan conflict and has a truly inspirational story to tell. Another great event coming up is An Evening with Adele Parks, internationally renowned for her women’s fiction and sales of more than two million books in the UK alone. Business Women in Surrey invite you to RHS Garden Wisley on Wednesday June 25 to enjoy a glass of wine, sample the lovely food, take a tour of the gardens and receive a gift of a signed copy of Adele’s new book, Spare Brides.
After the success of last year’s members’ networking evening, we are back again on Tuesday July 1 at Watts Gallery, where members can network free of charge as part of their membership benefits while exploring the paintings
and sculptures the gallery has to offer. We look forward to seeing you all there. For more information on any of the above events, visit www.surrey-chambers.co.uk or give the events team a call on 01483 735540.
Author Adele Parks will be at RHS Garden Wisley this month.
Be part of the network - find out how Surrey Chambers of Commerce membership can help your business at www.surrey-chambers.co.uk
June 2014
Funding pays for TorqBak add-ons By André Langlois
andre.langlois@trinitymirror.com A SIGNIFICANT new investor has been secured for a Surrey system that helps businesses to find clients using Twitter. The marketing platform from TorqBak, which is based at the University of Surrey, uses the content of tweets to identify potential customers for brands.
The start-up has received £150,000 from Mercia Fund Management following an investment showcase organised by SETsquared – a consultancy and incubation partnership between the universities of Surrey, Bristol, Exeter, Southampton and Bath. Founded in September, TorqBak was one of a handful of businesses picked for the showcase in November.
The funding will enable new features to be added to the online platform, including advanced reporting and analytics to the system, which uses a mixture of natural language processing technology and machine learning technology to scan tweets. Previous big-name clients include Cancer Research and media giant NBC Universal. TorqBak’s founder, Nick
Sharples, said: “This funding will have a big impact on our rate of growth. Without it, we would have had to slow our sales strategy down, hitting each sector sequentially. “Now we can ramp that up and are looking to expand our team by up to 200% during the next few months.” Rob Johnson, who is venture partner at Mercia Fund Management, said: “TorqBak’s
innovative approach to engaging potential leads, combined with Nick Sharples’ experience in marketing for major global brands makes TorqBak an exciting addition to Mercia Fund Management’s digital portfolio. “With £19 million under active management, TorqBak is one of our stable of scalable businesses receiving start-up and expansion capital.”
In the last 11 years, SETsquared has developed more than 1,000 high-technology start-ups that have generated some £1 billion in investment. Sarah De’Lacy, its Surrey centre director, said: “Mercia Fund Management’s backing of Torqbak is further evidence that it has huge potential as a business. “That’s why we brought it
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into our incubator and why we tipped it as one of our ‘cream of the crop’ businesses to pitch at our investor showcase. “This deal has proven that our SETsquared investment showcase is mutually beneficial, both for our businesses and for our network of investors, and we are looking forward to holding another later this year.”
Stable growth leads to expansion for equine scanning business THE continued success of a Surrey technology company has led to its expansion, moving into the unit next door at its Guildford industrial estate home. Hallmarq Veterinary Imaging occupies a unique place in the market, being the world’s only supplier of MRI scanners for the standing horse. Founded in 2001, the company’s connection to the Guildford area can be traced to its origins at the University of Surrey. The staff of 25 has 72 clients spread across 22 countries. Hallmarq is the market leader.
Recent inovations include a complete modular unit the size and shape of a shipping container, which can simply be placed on a suitable flat area and plugged in to power and the internet. Hallmarq operates all design, manufacture and European office activities from its base in Merrow, and needed to expand to make room to fit out each new modular unit. Late last year, Hallmarq also introduced the PetVet MRI for small animal specialists, putting further pressure on space. Gradual improvement in the global economy
also saw the business grow, leading to the search for more space to accommodate the burgeoning business. The answer was found next door. Although Hallmarq needed a bigger building, it wanted to avoid moving from the industrial estate where its headquarters have been based for more than 10 years. “We have excellent relationships with other businesses here”, explained Nick Bolas, founder director of Hallmarq. “The Guildford area is convenient for an international business with good
access to London, Gatwick and Heathrow.” Negotiations to rent the vacant adjacent unit were completed in January and following refurbishment, the company formally opened its new space on May 23. Company chairman Kevin D’Silva cut the ribbon across a new doorway between the two units following the company’s annual meeting, telling shareholders: “Hallmarq is a success story with an strong team and an excellent reputation in the veterinary world, and we look forward to continued growth in future years.”
Moving on up: How to get out of a commercial lease With the economic recovery starting to gather pace, businesses are likely to find their needs for premises changing. Graham Dixon of Penningtons Manches LLP considers various options open to businesses looking to bring an end to their current lease Most commercial premises will be occupied under a lease of a fixed term but requirements for space alter from time to time. Many businesses are more confident about the future and are taking on more staff and business – so they are again looking for additional or larger premises, hence the familiar cry, ‘How can I get out of my lease?’. There are various possible solutions: Serving Notice: If a tenant has a formal, written lease for a fixed term, it is unusual for it just to be able to serve notice and terminate the lease. It may be possible if there is no written lease or if a fixed term lease has expired and the business has continued to occupy the property, in which case professional advice should generally be sought. Break Rights: The exception to this is that many commercial leases include a right for the tenant to terminate the lease early, often
referred to as a ‘break right’. This would normally allow a tenant to end the lease on (or occasionally any time after) a fixed date, on a set notice period. If your lease does include a break right, great care must be taken in serving the notice as there are many traps for the unwary. Assignment/Subletting: Your lease may permit you to ‘assign’ (ie transfer) your lease to a replacement tenant, or indeed sublet. Another business may well be found that is willing to take over your premises, although they would have to be able to comply with the existing rent levels, any restrictions on the use of the premises and all other lease obligations. Generally, a short-term lease is unlikely to fetch a huge ‘sale price’
but you will hopefully be able to avoid the rent obligation going forward. However, it is likely that an outgoing business can be required to guarantee its assignee, so a proposed assignee should be investigated to make sure that it is capable of complying with the lease. Otherwise a business can find itself back ‘on the hook’ for premises it no longer occupies. Surrender: A tenant might be able to come to a deal with its landlord and agree to terminate the lease early. The landlord would be giving up its rent for the remainder of the lease, so it might well expect a substantial payment in order to agree to this but a deal is more likely if a landlord expects to find a new tenant quickly and if market rents are going up.
For further information, please contact Graham Dixon on 01483 791800 or email graham. dixon@penningtons.co.uk.
Graham Dixon, of Penningtons Manches, gives advice on business leases.
Hallmarq in Merrow is the world market leader in MRI scanners for horses.
Sponsor’s feature
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June 2014
Shahid Azeem, of Arcom IT, was involved in setting up the incubation centre.
Space at incubation centre snapped up by young businesses Central location and excellent facilities make perfect sense for start-ups, keen to take advantage of fully serviced offices, leaving them free to concentrate on the early stages of their development By Beth Duffell
beth.duffell@trinitymirror.com LESS than 12 months after its launch, Woking’s first business incubation centre is nearly fully occupied as companies take advantage of its central location, wellequipped facilities and lowcost offices. Based at Export House in the town centre, the Connect 2 Innovation Incubation Centre opened in July last year. It has 11 office spaces, plus a co-working section for multiple businesses and three meeting areas. Developed by Connect 2 Innovation and Woking Borough Council in partnership with Arcom IT, the aim of the incubation centre in Cawsey Way is to support the launch, survival and rapid
growth of new businesses. The centre has welcomed a variety of businesses, from solicitors to media firms looking to make their home in the town. Full incubator membership gives access to a high quality, fully furnished office for one to five members of staff, including all amenities plus a staffed reception during office hours. Rooms have free highspeed broadband access with super-fast connectivity and space can be customised for specific IT needs. Other membership packages are available, including hot desking plus business support, advice and training. Services are tailored to growth-focused businesses during their early stages of development. Matt Peachey, economic
development manager for the borough council, said: “Members of the incubator share two attributes: growth potential and ambition. “The C2I Incubator provides office units with inclusive, ‘easy in, easy out’ terms to suit the needs to young businesses, helping to manage risk and scale up as required.” Shahid Azeem, managing director of Arcom IT, said: “We were looking to relocate our business from Guildford to Woking and were discussing with the council about us putting something into the business community. “One of the reasons we chose Woking is because of the fantastic facilities and the support from Woking Borough Council, in particular the leader, Councillor John Kingsbury, and chief
Yeing-Lang Chong is lead solicitor at Springhouse, which operates from Export House.
executive Ray Morgan. “Export House was available and it was the perfect place in the heart of the town centre.” Arcom IT fitted state-ofthe-art equipment into the offices to give the best possible opportunities for the start-up businesses. Mr Azeem added: “We are potentially looking to repeat this elsewhere in Woking.” Businesses based at the centre highlight the central location of the offices as a plus point and the fact they can move into a fully serviced office and get working straight away. Arc7, a niche recruitment
Tony Foy of Peregrine Cloud Ltd is among those who have decided to take advantage of the facilities.
company, is based at the centre and employs six members of staff specialising in pharmaceutical, IT and digital recruitment. Shakeel Khan, managing director, said: “We have been going for about a year-and-ahalf. We were based temporarily in Guildford until the offices in Woking were finished. “Being at the incubation centre made sense as we are a new company and wanted nice offices in a central location. “We wanted something that was going to be commercially viable in terms of renting and running costs.”
With the offices set up and ready to go, with broadband, desks and other necessary facilities, Mr Khan’s full focus could then be on the business. He praised the incubation centre for encouraging small businesses in the town, adding: “It helped us concentrate more on getting our name out there and getting business in.” For Ben Power, managing partner of Springhouse Solicitors, the location was a big draw for the company’s branch office, along with the convenience of a fully serviced office. He said: “We chose Woking
for its vibrant and welcoming business community. “Export House was the perfect choice because of its central location and we also liked it because of the connection with Woking Borough Council and the support it gives people, particularly Matt Peachey – he is very good. “It has worked out really well and it is lovely, having a serviced office and to have it all ready.” Opportunities for businesses are still available at the centre. Call 01483 743024 or email succeed@connect2 innovation.co.uk for further details.
Businesses at the Connect 2 Innovation Incubation Centre make use of the excellent facilities at Export House to hold a meeting.
June 2014
Investment watch
7
Keeping an eye on the markets
Takeover bids give cause for excitement among investors By Phillip Scott
Head of Advisory Stockbroking at Simple Investments
Philip Scott of Simple Investments.
This report was written by Philip Scott, Head of Advisory Stockbroking at Simple Investments on June 3 2014 when the FTSE 100 was trading at 6830
An extra dimension, in the form of the potential upside rewards of takeover bids, has given investors cause for excitement. Will mega cap drugs company Astrazeneca yet fall into the arms of an international suitor? Although US behemoth Pfizer may have removed itself from the equation (for now), who is to say another bid approach won’t materialise. Holiday Inn to Crown Plaza hotels group Intercontinental has reportedly just declined interest from across the Atlantic. Perennial takeover target Smith & Nephew has also been back in the headlines, with Europe’s largest knee and hip replacement group apparently in the sights of Stryker Corporation (again from the US). It has been some time since we have experienced such M & A (merger and acquisition) fever – activity and rumour in the markets and the prospect of deals has had the effect of
driving share prices higher. Investors thus get a further incentive to selectively put funds to work, in the hope of being involved in such a profitable situation. Notwithstanding this current dynamic, the FTSE 100 index has barely moved throughout May, with the majority of companies trading sideways. Equities remain at large, the favoured home for cash and yielding (by way of dividends) still an annual 3.5%, the relative return attraction remains, even if (global) macroeconomic risks linger in the background. China continues to confuse with predictably unpredictable noises. The US economy is stuttering (yet their markets reside at all-time highs) and Europe remains sluggish, on the cusp of a possible deflationary spiral. Add into the mix the spectre of rising interest (borrowing) rates and, especially in the UK, the potential implications to the housing market, and the case for caution becomes clear. Nonetheless, we have not (yet at least) seen any corrective test lower in the market (buoyed possibly by the
Ukraine decrease. In general, a significant recovery in the EM region as a whole has materialised from what did look like heavily oversold conditions back in February. IPO – Initial Public Offerings – and New Share Issue Fatigue apparent? Possibly There have been close to 50 new company listings since the start of the year on both the Main Market and the AIM (Alternative Investment market), in conditions similar to those experienced before the financial crisis back in 2007. It is clear that generally strong underlying market conditions are being tapped into by companies wanting to gain a market listing, often raising significant new funds in the process. A cursory glance at the share price performances from IPO to current levels reveals a mixed bag. This is not completely surprising (markets seldom deliver dead certainties) but highlights the need for investors to be selective and to have researched thoroughly their options. Whether the large number
of new listings is a signal for what could be a short-term high for the market, only time will tell but certainly investors should not assume that participating in new issues will generate certain profits. It is also interesting to note that despite much press coverage, Saga has been something of a damp squib in terms of its performance to date. The IPO was priced at the bottom of the range at 185p versus a current price of 180p. In addition, both Fat Face and Travelex have recently decided to withdraw themselves from attempting to float through concerns at large regarding lack of sufficient demand. In the case of Travelex, a higher price was achieved through a private sale to what would have been achieved through a listing. TSB Bank will be the next most high-profile float probably on investors’ radars, with it being UK centric and well capitalised. Both eastern European budget airline WizzAir and Zoopla, the property website business, also both stand to be interesting upcoming opportunities.
Inspirational talk on economic growth
Delight as B2B award scooped by PR agency A GODALMING PR agency has scooped an international award. The McOnie Agency, in Woolsack Way, Godalming, won the International Public Relations Network (IPRN) B2B Project of the Year award, at its annual meeting and conference held in London last month. The award was for a DuPont Protection Technologies campaign, run in conjunction with a German partner agency, JP Kom. The aim of the project was to position DuPont as thought leaders in the German firefighting market, through activities such as a round table held at key trade show, A+A, in Dusseldorf. The presentation highlighted the range of coverage achieved across a number of firefighting titles, both in the UK and Germany.
corporate activity variable), as I had speculated recently, may be due. Focusing on the US, investors seem to be taking comfort in the measured (dovish) Central Bank approach to the withdrawal of stimulus, as opposed to the ultimate potential effects of rising rates. The same (possibly complacent) psyche appears to be present with UK investors, while European market watchers are wanting imminent action from the European Central Bank in the form of a further accommodative monetary policy. Turning notably to the Emerging Markets (EM), the Indian market has rallied strongly as a newly elected government has taken office. Investors are predicting that policy changes can put corporate India firmly back on the growth track; others feel their markets now trade with significant ‘hope value’ already priced in. Certainly, a 20% rally duriing the past three months is material. Russian equities also now appear to be trending higher as concerns for the stability of
Sarah McOnie, managing director, and Mary Fitzgerald of the McOnie Agency.
A total of 27 cuttings and a circulation of more than 670,000 were secured. IPRN’s chairman, Maggi Fox, said: “The McOnie Agency is a well-deserved winner of the B2B Project of the Year, as the agency exemplified the benefit of partnering with network agencies that have expertise in their
own territories. “On behalf of all the IPRN members, I would like to commend The McOnie Agency on what was an entertaining and thought-provoking presentation.” Managing director of the agency, Sarah McOnie, said: “Winning this year’s IPRN B2B Project of the Year is a
real testimony to the hard work and dedication that all the team back in Surrey have achieved in the past year for DuPont. “It was hugely beneficial working with JP Kom, as their knowledge of the German trade press was extensive and their contacts proved very useful.”
Surrey Connects, the economic development partnership, will mark its two year anniversary by hosting a thought-provoking business event at Canon UK in Reigate on June 25. The event will focus on the organisation’s ground-breaking Smart Economic Growth strategy for Surrey. Mark Pearson, Chief Executive of Surrey Connects will welcome to Surrey a line-up of internationally renowned speakers on economic development. Matthew Taylor will deliver the keynote address on ‘Creativity Innovation and Knowledge’. He has been Chief Executive of the RSA since November 2006, during which time the Society has developed a global profile as a platform for ideas. Matthew regularly appears in the media on the Today programme, The Daily Politics and Newsnight and prior to his current appointment, he was Chief Adviser on Political Strategy to the Prime Minister. Sue Riddlestone OBE, Founder and Chief Executive of the award winning international social enterprise and sustainability charity – BioRegional – will speak about
the value of reciprocal networks. BioRegional developed the ‘One Planet Living Framework’ to design and deliver sustainable living. In 2005, Sue worked with London 2012 to write the sustainability strategy for the Olympic bid and, as a member of the UK Government‘s Eco-towns challenge panel, was lead author of the report “What makes an eco-town”. The third speaker will be Neil McInroy, Chief Executive of the Centre for Local Economic Strategies. It is the UK’s leading member and research organisation for economic development which advances social inclusion within the limits of the environment. Neil lectures within the UK, Europe and internationally and is regularly asked to give evidence at House of Commons select committees and to speak at the European Parliament in Brussels. These thought-provoking presentations will be followed
Mark Pearson, chief execuitve of Surrey Connects.
by a panel discussion chaired by BBC Radio Surrey presenter and journalist Peter Stewart. A limited number of free places are still available for Surrey business leaders and entrepreneurs. To register online visit http://surreyconnectsevent.eventbrite.co.uk by 12 June.
8
June 2014
Society donates money for iPad Charity grateful for tablet that will support and encourage communication for clients with sight loss and disabilities By André Langlois
andre.langlois@trinitymirror.com residents of a Guildford care home will benefit from the use of a tablet device, thanks to local building society branch. A donation of £400 was made by the High Street branch of the Chelsea Building Society to Denecroft residential care home, to buy a specially adapted iPad for the six residents to use. The care home is run by the charity SeeAbility, which supports people with sight loss and multiple disabilities. Olivia Andrew, manager of
the Denmark Road home, said: “People who live at Denecroft all have challenges in communicating to a certain degree. The iPad not only provides a tool for supporting communication with people and encouraging interaction, but also stimulation of senses. “All people we support are visually impaired to different degrees. The apps we use on the iPad are either brightly coloured and visual or use different sounds. “For one person who can be quite withdrawn at times, a short session on the iPad can get her interacting, laughing and looking for more. This re-
ally is wonderful to see. “It is so kind of the Guildford branch of Chelsea Building Society to be making this donation. Its ongoing fundraising is really appreciated too as it helps to us to do extra activities for the people living here at Denecroft.” The donation was made through the Yorkshire Building Society Charitable Foundation, which includes the Chelsea Building Society. The branch has also raised money with a murder mystery night and volunteered through a company scheme, where colleagues spend two days’ paid leave to help a
cause in their community. Joanna Holt, the branch’s customer representative, said: “SeeAbility’s home is just around the corner from our
branch and I have had an opportunity to meet all of the residents who have sight loss and some have very complex disabilities.
“Their staff and volunteers are just so lovely and do such an amazing job. I was just so touched and completely overwhelmed when I went to meet
them. I am delighted we have been able to help SeeAbility through the charitable foundation and hope the residents enjoy using their new iPad.”
Firms urged to saddle up for Midsummer Bike Ride for teenage trust
Employee inspires £50,000 challenge A GREAT Bookham builders’ merchant is giving customers a chance to purchase special saws in aid of its appeal to raise £50,000 for the Cystic Fibrosis Trust. Chandlers Building Supplies will donate £1 from every sale of its special Chandlers £50k Challenge saws to the charity campaign. The appeal is in honour of employee Rob Sadler, who has cystic fibrosis. He not only marked 30 years of employment with the company last year; more significantly, he celebrated his 50th birthday in December – those with cystic fibrosis are not expected to live beyond their 30s. Chris Vernon, manager at the Great Bookham branch of the company, said: “So far, a fantastic £28,000 has been raised for the Chandlers £50k Challenge, which we are
Joanna Holt with branch manager Sam Morgan (right), a member of staff and representatives from SeeAbility’s Denecroft home.
Rob Sadler, the inspiration behind the Chandlers £50k Challenge charity appeal.
all thrilled about. The Cystic Fibrosis Trust is a fantastic charity that has really helped our colleague, Rob. Of that total, £1,300 has been raised from people purchasing the charity DIY items and we
would like to thank everyone who bought a saw, tape measure or pencil.” The Chandlers £50k Challenge saws cost £1.66 plus VAT and are available at the Great Bookham branch.
GUILDFORD-based Sanofi is challenging other Surrey businesses to get on their bikes in aid of the Teenage Cancer Trust. The Midsummer Bike Ride will comprise three circular routes around the Guildford area on Friday June 20, starting and finishing at Horsley Park. A 60-mile route will start at 8.30am, while the 30mile and 10-mile routes start at 10am and 11.30am respectively. The challenge is in two parts because as well as preparing for a physical test, cyclists are also expected to apply their creativity before the event to help raise money for the Teenage Cancer Trust. To ensure all of the money they raise goes directly to support local young people with
cancer, a separate and fixed registration fee of £25 for every rider is required. This will contribute to all necessary support before, during and after the event, including training plans, breakfast and refreshments en route, breakdown and recovery, medical support and insurance for riders over 18. The fee also covers an evening barbecue in the grounds of Horsley Park. The annual bike challenge is organised by Sanofi under its Sanofi Inspires campaign, which aims to support young people with cancer. To date, the efforts of past participants have raised nearly £180,000 for the Teenage Cancer Trust and with the support of this year’s cycle challenge, it is hoped the fundraising will
reach £200,000. Steve Oldfield, managing director of Sanofi UK and Ireland, said: “This bike ride is something which, along with everyone else, the
business community can participate in and help do something marvellous for teenagers and young adults facing the trauma of cancer while supporting their employees to achieve a personal goal.” Charity chief executive Siobhan Dunn added: “Everyone at the Teenage Cancer Trust really appreciates the enthusiasm, commitment and support that Sanofi colleagues have shown during the past two years. “They have raised an extraordinary amount through the Sanofi Challenge and we are thrilled they are taking on the Midsummer Bike Ride this year to raise even more.” Businesses that want to enter a team should visit www.sanofi-inspires.co.uk
Technology company’s smart link-up with hospice SURREY technology company IDT Systems has formed a partnership with the Phyllis Tuckwell Hospice to help deliver a fundraising solution using smartphone technology. IDT has also donated almost £6,000 for the charity, which is based in Farnham and serves all of west Surrey. Who’s on Your Case, IDT’s sister company, will provide an IT solution to enable Phyllis Tuckwell to offer a phone and tablet case printing service to website visitors. This will enable them to personalise a highly durable case for an Apple, Samsung,
Google or HTC smartphone or tablet device, with a photograph of a loved one, pet or a cherished memory. Profits from each sale will go directly to the charity, helping the hospice to continue to deliver outstanding services to its patients and strengthening the relationship between IDT and Phyllis Tuckwell. Ruth Masters, community, corporate and events fundraising manager received the cheque on behalf of the hospice. “We are so grateful to have received the generous donation from IDT Systems,” she said.
“But, on top of that, their offer to personalise the IT system for ordering mobile device cases from Phyllis Tuckwell Hospice means we have an ongoing revenue stream, which is very exciting.” IDT Systems, which is based locally, is a leading systems provider focused on delivering complete 3D and 2D surface decoration and personalisation solutions for most materials across all industries including retail, telecoms and online businesses. It exports 96% of its products to 53 countries and as well as in the UK, it has bases in China, the Gulf States,
India, Korea and the USA. IDT director Charlotte Wood said: “We sincerely believe that industry needs to play a responsible role in the community. “When we recently sold one of our printing machines to the USA, we couldn’t think of a better way to use the money than to help out this wonderful local charity. “We are looking forward to continuing to help Phyllis Tuckwell, raise as much money as possible and giving them the ability to fundraise themselves with such an indemand product. We are delighted to support such an amazing cause.”
IDT’s Charlotte Wood hands the cheque to Ruth Masters, who received it on behalf of the charity.