Mar 2013
My first job – Teresa Stedman, managing director of Stedman Corporate Clothing 2 Club investment pays off 5 Fabulous way to boost business 6 Bullish market takes AAA downgrade in its stride 7
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Boost for start-up firms Millions have been invested to help Woking provide businesses with a pleasant environment and attract new workforces, but the arrival of one company to work on a new project will be crucial in surrounding young businesses with the support and facilities they need to prosper.
Shahid Azeem (right) from Arcom IT and Mark Rolt of Woking Borough Council. (Ref: WK131341_7)
A NEW business incubation space being constructed in Woking’s tallest building will be not only a boost for start-ups, but help the town stand tall in Surrey’s business community. The joint venture at Export House by Woking Borough Council and Arcom IT Ltd will create around 14 affordable office spaces, each accommodating between one and five desks, to allow infant businesses to move in and grow. Tenants of the building, located adjacent to Cawsey Way, will be supported by key tenant Arcom IT as well as on-site business mentors. Arcom IT is a 24/7 IT support company that focuses on positioning itself either as the IT department of a company or as an extension of this department. With offices in Surrey, West Sussex and Gibraltar, the firm is relocating from Walnut Tree Close in Guildford to the Woking office. Mark Rolt, strategic director of Woking Borough Council, said the centre was one of the ways Woking was growing in stature as a business environment. He said that, as a result of recent redevelopment in the town centre, negotiations to bring a four-star hotel and two high-quality restaurants were under way. Other new arrivals announced during a busy 2012 were the World Wildlife Fund headquarters and an ASDA superstore set to create
around 300 jobs, while Jubilee Square was opened to help provide a quality of life for the workforces of companies who may relocate to the town. “One of the key things we picked up from our economic development strategy was if we bring in directors and business people, there needs to be somewhere nice to go and eat and a nice hotel to stay at,” said Mr Rolt. “We try to differentiate ourselves from our neighbours and are trying to get high-tech companies into Woking. We are building on our strengths, such as McLaren and petrochemical companies
‘...there needs to be somewhere nice to go and eat and a nice hotel to stay at’ here, which are all based on knowledge. “Part of the deal is that Arcom IT shares some of its knowledge and skill sets. We were pleased to successfully encourage Arcom IT to base its services in Woking." Mr Rolt said that firms that had been involved in discussions with the council about investing in the area had all pointed to the importance of a supply chain of people with knowledge. As a result of this, part of the economic strategy of the town had been to provide training,
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education and employment or business opportunities for young people. The incubator offices are aimed at providing support to companies that would otherwise not be able to afford to expand. After three years, the tenant companies will move out of the offices, having used that time to build foundations for success. For Arcom IT managing director Shahid Azeem, the Export House project marks a new chapter in the life of the company that he created 20 years ago, as he relocates from Guildford to Woking. “Having been involved in Woking Asian Business Forum and Surrey Chambers of Commerce, I have got to know a lot of customers and businesses in Woking,” he said. “This is an opportunity for me to work with them a lot more. Guildford has been fantastic to us, but I feel we have an untapped market here.” Arcom IT was named ExxonMobil Corporate Social Responsibility Company of the Year in 2010 after its monthly mileage was reduced from 3,000 to less than 100 due to increased remote working. Mr Rolt insisted that, despite remote working becoming more and more popular with companies, Woking’s accessibility by rail and road remained a strength. “People are still social animals and need to get to conferences and meetings,” he said.
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March 2013
My first job APPRENTICESHIP starts increased by 16.1% in the 2011/12 financial year in Surrey. In total, 5,960 starts were recorded in the county during the period, reflecting the positive news across England, where apprenticeship starts topped the half a million mark. Surrey’s increase was also above the national rise of 13.9%, and contributed to a total of 66,850 in the south east, which saw an overall 14.6% rise. Skills Minister Matthew Hancock said the increase in the SouthEast was great news for the region. “Apprenticeships are vital in the government’s drive to create a more highly-skilled workforce who are better able to compete in the global race,” he said. "We are strengthening apprenticeships further to make them more rigorous, and to respond to the ever-changing needs of the modern workplace.” A SERIES of senior appointments have seen the Guildford management team strengthened at civil and structural engineers Thomasons. Rob Barnes and Paul Jarvis have both been appointed directors at the Thomasons office in Epsom Road. Rob, a chartered builder and engineer, has wide experience spanning high specification residential works as well as projects in the education and retail sectors, including Selfridges and BHS. With many years of experience across diverse sectors, Paul’s expertise ranges from major new build projects and the refurbishment of existing buildings to expert witness work and new product innovation. Also based at the Guildford office, Chris Smaller is promoted as an associate. A chartered structural and civil engineer with more than 25 years’ experience, Chris leads projects in the leisure and residential sectors.
Teresa Stedman, managing director of Guildfordbased uniform and workwear designer and manufacturer Stedman Corporate Clothing
What was your first job? I have always had an interest in fashion and clothing and my first real job was at House of Fraser, where I was involved in its management trainee programme. I absolutely loved the role and it led me into buyer and merchandising positions at BHS Marylebone and Principles. In retail, styles and fashions are continually changing and so there were always new projects to get my teeth into, which I relished. How did you get from there to where you are today? I joined Stedman Corporate Clothing in 2000. It is an established family-run business and I was well-placed to apply the experience and knowledge I had acquired with regards to fabrics and tailoring from the retail side of things, in addition to my
management experience, to help grow the business. I was promoted to commercial director in 2006, and in 2011 I took on the role of managing director when the original founder retired. What does the future hold? The year 2012 was a busy year for us and we expect 2013 to be no different. We are working with clients across a range of industries and I believe that having this diverse client base means we don’t have ‘all our eggs into one basket’ and so our overall risk is lower. We have invested in new IT systems and in our people, meaning we are able to deliver greater efficiencies to existing clients, which include Persimmon Homes, Eastern Airways and The National Portrait Gallery, while ensuring we are well placed to take on new projects through the year.
Teresa Stedman
GRASS roots cricket will be helped to thrive after a new main sponsor of Guildford Cricket Club was announced. Your Insurance agreed a deal at the start of the year that will boost the club’s coffers, support youngsters playing the game and assist in the holding of the beer festival to be held at Woodbridge Road later this year. As well as a named sponsor, Your Insurance will provide the club with marketing material and attend events. Marketing manager Annie Plaskett said: “It’s great to be involved with the club. This sponsorship sits well with our ethos to support the communities we insure and we look forward to some great cricket and an equally impressive beer festival.” Guildford Cricket Club commercial manager Chad Murrin added: “I’m delighted Your Insurance has joined our panel of sponsors – it’s great to have another local firm supporting us.”
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L/R: Philip McLauchlan, John-Paul Smith, Ross Shain and Allan Jaenicke of Imagineer with their Oscar awards
Imagineer Systems enjoys taste of Oscar success with Mocha By Pete Bryant
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SPECIAL effects software developed in Guildford for Hollywood films has been recognised with an Oscar. The team at Imagineer Systems was awarded an Academy Plaque in the Scientific and Engineering Award category for its Mocha planar tracking system that allows moving objects to be tracked and altered digitally. The technology got its big break in the Harry Potter series of films and has since been used in The Hobbit, Black Swan, Invictus, Casino Royale and The Amazing Spiderman. Developers Philip McLauchlan, Allan Jaenicke, John-Paul Smith
and Ross Shain travelled to the Academy of Motion Picture Arts and Sciences awards in Beverley Hills last month, which are the equivalent Oscar awards for the technical work that goes into movie-making. Based at the Surrey Technology Centre, Imagineer was founded in 2000 by Allan and Phillip, who met at the University of Surrey, and now has sales offices in New York and Los Angeles. John-Paul, who joined the company in 2001, helped develop the Mocha software and said it still felt strange to think that it has been used in so many high-profile productions. “It’s enormously rewarding when I go and see a movie and I know that the work was done
using something I created,” he said. “It’s always a bit of a surprise to us when we hear that the software has been used in well-known
“It’s enormously rewarding when I go and see a movie and I know that the work was done using something I created.” films as we have had no direct involvement ourselves. “It’s fantastic to be involved in this industry.” Mocha works by tracking moving objects, from actors' body parts to jumbo jets, and separating them from the background to
allow alterations to be made or for them to be removed completely. The feathers that grew out of Natalie Portman's arms in Black Swan, the bruises, cuts and mud on the rugby players in Invictus and the moving portraits in Hogwarts in Harry Potter and the Prisoner of Azkaban were all made possible thanks to the software. One of the reasons Mocha has become so widely used in the last five years is its user-friendly interface and the fact that it allows even objects with little texture to be defined and tracked. “There are a lot of products out there that track the movement of objects, but we have taken a different approach and artists have found it very easy to get good results,” added John-Paul.
March 2013
Enterprise fund helps rural digital ambitions
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By Pete Bryant
pete.bryant@trinitymirror.com A TANNERY in Send is being turned into a state-of-the-art digital business hub after a successful bid for local funding. Tannery Studios is being created in Send Business Centre, Tannery Lane, using a £200,000 loan from the Enterprise M3 Growing Enterprise Fund. The money will be used to provide improved broadband infrastructure to tenants, to secure and repair canal wharf frontage and refurbish the office space to attract more business to the centre, plus create new road signage. Send Business Centre provides office and meeting spaces for business people in the surrounding area, and also includes a newly-opened purpose-built recording studio. Tannery Studios is one of five projects to successfully bid for funding and it is hoped the new studio will help the facility become a centre for the creative sector, building on the strengths in this field in south west Surrey. Michael Hamburger, managing director of Wey Holdings Ltd, which submitted the Tannery Studios plans, said: “For us, the saying where there is an emergency there is an opportunity has come true. Following the failure of our banks, first Northern Rock and
Solar panel installation was the Restarting the Market theme at Sandown Park.
Exhibition creates energy to harnessing solar power The canalside setting of Send Business Centre, in Tannery Lane. Pictures: Jake Darling. (Ref: SA131259_12, 2 and 7)
then Lehman’s, we were able to turn to Enterprise M3 who helped fund infrastructure work that is helping my company support job creation in a high growth sector. “Enterprise M3 went further than simply providing funding. It has also helped us build useful new relationships in our local area, a good example of which is the constructive dialogue we have with Surrey County Council, which is actively helping my company sort out some of the unique growth challenges of being a rural business.” Enterprise M3 is the local enterprise partnership covering the M3 corridor in south west Surrey and mid- and north Hampshire. The latest round of the Growing Enterprise Fund, aimed at creating jobs and housing for people in the South East, launched last month and organisations are being called upon to bid for a share of the £10 million pot.
Schemes likely to be successful are those that deliver economic growth, enable development where there is demand, are delivered quickly and repay the loan promptly. Geoff French, chairman of the Enterprise M3 board, said: “We want to use this £10m to fund developments that will make a real difference to our local economy. “Our aim is to create more jobs and build more houses, and Enterprise M3 is looking for projects that can quickly deliver this kind of growth. “If you have a scheme, and it could be transport, utilities, broadband, flood defences, land remediation or an innovation/ enterprise centre, that is ready to go but just needs a little bit of help in getting it going, I encourage you to contact us immediately.” Advice will be offered to those submitting schemes to help move them forward.
It is hoped to turn the open spaces of the Tannery, top, into a digital business centre, for use such as a recording studio, above.
For information, visit www. enterprisem3.org.uk/round-2, or to discuss a potential project and ask further questions, contact Rachel Barker at funding@ enterprisem3.org.uk, or call 01962 846310.
A DISPLAY of solar panels was the more unusual sight at Sandown Racecourse during a showcase of the best in renewable energy technology last month. Run by Enfinity, one of the UK’s leading solar PV companies, the day-long event on February 7 at the racetrack in Esher was aimed at businesses looking to expand into renewable energy. The Restarting the Market event looked to help companies already installing solar equipment or trying to branch out into solar power. It also offered advice to businesses involved in other aspects of the renewable energy market. The event focused on the benefits of companies generating their own solar electricity, such as lowering their energy bills, bringing in additional revenue by selling electricity and becoming more environmentally friendly by cutting carbon emissions. With gas and electricity prices rising and set to soar again, there has never been a more pressing
need for businesses to limit their costs, and against the background of the Government’s feed-in tariff incentives over the last year, solar PV equipment costs have dropped by more than 80%, said a spokesman for Enfinity, bringing opportunities for homeowners, businesses and public sector organisations to enjoy a return on their investment of around 11%. The show at Sandown Park was the first of seven events to be held around the country, and was launched by the minister for energy and climate change, Greg Barker MP. The exhibition also saw briefings from the department for energy and climate change (DECC) on the latest energy tariffs available, government policy and the sunny outlook for the growing UK solar market. Advice was provided on business models, product warranties and financing options, and how green improvements can benefit business.
Firm’s global presence is about better security A WOKING-BASED counter-espionage and electronic sweeping company was part of an exhibition taking place 5,000 miles away in the Middle East last month. Esoteric Ltd, based in Hipley Street, took stand number seven at the fourth ASIS Middle East Conference and Exhibition, which took place at the five-star Intercontinental Hotel in Festival City, Dubai, in February. The conference addressed the security management topics of supply chain security, loss prevention, intellectual property, terrorism, executive protection, internal theft and fraud, competitive intelligence, brand protection, physical security and cyber security. It was intended to enable attendees to connect with peers in security management from around the world, to share experiences and to exchange ideas. Esoteric representatives offered their insight on counter-espionage solutions, which include security strategy development support and risk assessment, electronic counter-measures and specialist training. Also showcased was Esoteric’s 24/7 counter surveillance monitoring system. “We were delighted to have the opportunity to attend an extremely important event in the inter-
The Wandsworth Group’s new offices on Albert Drive, Woking.
Office move strengthens link with town
Emma Shaw, managing director of Esoteric, said the company’s recent trip to a Middle East conference was strategically important. Picture: Grahame Larter. (Ref: WK130589_5)
national security calendar,” said Emma Shaw, managing director of Esoteric Ltd. “The Middle East is becoming
strategically important to Esoteric and we have seen an increased demand for our services in the region.”
A BUSINESS based in Woking for 60 years has completed its relocation to a new site, in a move which its says demonstrates its commitment to the town. Staff from The Wandsworth Group were set up in their new offices on Monday February 25, adjacent to the McLaren showroom on Albert Drive, at Woking Business Park, having previously been based on Forsyth Road. The 108-year-old manufacturer of switches, sockets and healthcare technology, has been based in Woking since 1952 and is the longest established independent manufacturer of wiring accessories in the UK. The move is said to be a significant chapter in the company’s history with Woking, as the new premises will provide capacity for new manufacturing processes and future expansion. All manufacturing, product development and office-based
functions have been moved to the new site, which will be fitted out with the company’s existing production lines along with new machinery and office equipment. The change in site follows the sale of the group’s former building to make way for a new ASDA store in Sheerwater. Gary Stevens, managing director of The Wandsworth Group, said they will be able to work more efficiently at the new site, which will cut production costs at the same time. “Woking has been home to The Wandsworth Group for 60 years and we’re delighted that we have been successful in finding suitable premises close to our existing HQ,” Mr Stevens said. “The move will enable us to realise our long-term objectives, while staying in Woking means we can continue to benefit from the experience of our team and remain an important employer in
the town. Our new headquarters will enable us to increase our capabilities in terms of product development, production and market penetration while operating out of a more suitable property, and we are looking forward to continuing to grow as we build on our heritage of quality while driving innovation.” The final stages of the move were completed last weekend and Mr Stevens said it had gone smoothly thanks to it being planned well in advance, and the hard work from the staff. “The main thing from my point of view is that the staff, and we have just more than 100 people, all rolled up their sleeves and pulled together,” Mr Stevens said. “It really demonstrates what people can do when working as a team and pulling in the same direction, and it is a very good sign for our future.”
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March 2013
Zoe has designs on rapid growth From working on a shelf in her bedroom to opening her company’s new enlarged office with a team of eight staff in just a few years, Zoe Brown, managing director of web design firm b:web, is not one for looking back.
b:web’s new office in the Lansbury Business Estate, Knaphill. (Ref: SA131229_27)
b:web’s new office has provided much more space for the team of eight and allows Zoe to hold workshops. Pictures: Grahame Larter. (Ref: SA131229_4)
By Pete Bryant
pete.bryant@trinitymirror.com FURTHER growth and expansion is anticipated following a Surrey digital online business’ move into a larger premises. Web design business b:web moved into a refurbished studio in the Lansbury Business Estate, Knaphill, last month, having outgrown its former offices in St Johns, Woking. The company was formed eight years ago by managing director Zoe Brown, who ran it herself from home. Rapid growth has since seen the company expand to a team of eight and achieve an annual turnover of around half a million pounds. It was also named a finalist in last year’s Toast of Surrey Awards in the Turnover of Up To £1m category. Zoe said: “I started the company when my son was three months old and I had been made redundant. I didn’t even have a study, it was just a shelf in my bedroom.” Following three years working from home, b:web had expanded enough for Zoe to employ her husband, Chris Ashby, plus a small team. The business was moved into a small office in Lansbury Estate, before progressing to a larger one this year. An office-warming party was held to mark b:web’s move, with past and present clients and contacts invited. Around 35 people enjoyed refreshments and watched Lansbury Business Estate chairman Arthur Craven cut the ribbon to open the studio. Most of b:web’s clients are
Surrey-based SMEs, with work being largely web design, including complex brochure and e-commerce websites. The company specialises in creating websites that are slightly unusual, memorable and easy to use. On the office move, Zoe said: “We needed the added desk space at the new offices for our team. “I have also been running workshops on websites and search engine optimisation, and now
apprentice from university in September for one year. The company had previously offered week-long work placements for GCSE students but will now also be able to offer longer apprenticeships. b:web returns with its Big E-commerce Conference in June following a successful first event in 2012. The conference, at Woking’s HG Wells Conference Centre, was created to celebrate the diversity
Lansbury Business Estate chairman Arthur Craven (right) cuts the ribbon and congratulates b:web directors Zoe Brown and Chris Ashby. (Ref: SA131229_4)
we’ve got the meeting space which our clients really appreciate.” A new era for the business has also presented Zoe with the opportunity to help young designers begin their careers in the industry, with b:web taking on an
Zoe and Chris with staff members Christine Akinwande, Moira Lynch and Richard Jeffery. (Ref: SA131229_3)
of e-commerce websites and includes presentations from guest speakers. This year’s conference will focus on current trends and changes in technology, and it is hoped to double the 100 delegates that attended last year.
March 2013
Club investment pays off Fledgling firms reveal investor interest after presentations By Pete Bryant
pete.bryant@trinitymirror.com PITCHERS come and go at the Surrey 100 Club investor meetings but cash earned through quality presentations can have long-lasting effects. The climax of months of preparation and training offered by experts at Surrey Research Park’s SETsquared Surrey, the meetings take place six times a year and see five to six business concepts demonstrated to angel investors. In what is the last of six features on the 100 Club meetings, BNE takes a look back at three of the meetings over the past six months and finds out whether those who stood before the angels have experienced subsequent ‘miracles’. The process of investment is almost always a slow process, so it is therefore premature to judge the impact of February’s meeting on the companies that attended. However some signs of promise were reported. Jill Shaw, CEO of Anvil Semiconductors Ltd, said: “While it is far too early to say we have got investment we have had a couple of very interested investors, so our hopes are high that the pitch will lead to investment.” Hybrid and cloud server
company, Hybrid Logic Ltd gained £615,000 of investment in October 2012 from a consortium of UK investors rather than directly from 100 Club investors. The firm did, though, attribute its success to a SETsquared investment showcase. In September, iGeolise cofounder Peter Lilley presented the concept of travel time – software that shows a user destinations they can reach within a time frame rather than within a given radius. The last six months have seen talks take place with companies interested in integrating the software into their websites, including an estate agent and two high street retailers. Funding came from a Surrey 100 Club investor who did not attend the September meeting, as well as another investor from elsewhere. Mr Lilley said the money had been used to file for a US patent and make the software run faster. “When you input information and press enter, you expect to see results within a second, maybe faster,” he said. “We put some money into this and we can now do 3,000 enquiries in a third of a second. The relevance of that is it’s now industrial scale.” Nick Sharples, CEO of social network monitoring software
CrisisVu, said no investment had come directly from his pitch but talks had resulted from the exposure and relationships developed. The software allows users to analyse customer correspondence and track conversations about subjects on websites like Twitter to exploit evolving situations. Mr Sharples said 311 people had registered to view a presentation by the company and meetings had taken place with an investor. Advanced talks have been held over investment into FindsYou. com, a website that allows people to advertise what they want to buy online rather than trying to search for it. Talks also took place between investors and eCow, a company that has produced technology for farmers that monitors cows’ health, though commercial director Sam Mottram said the team had decided it was the wrong option for them at this time. “We are a start-up and I think many investors look for something a little more established,” he said. “We received some good advice that debt, and particularly grant funding, might be more suitable for us in the short-term. We’ll definitely work with angels in the future when the time and funding levels require it.”
How they fared... n FindsYou.com: Talks held with a number of investors, including angel investors at September’s meeting, over providing the level of funding requested in the pitch. n iGeolise: Investment from one Surrey 100 Club investor, plus one other, totalling £45,000. Used to make software faster. n The Box/AppCast: Interest from two investors to provide money to expand the company’s sales team, but talks put on hold for three to four months to allow the firm to fulfil commitments to existing customers. n eCow: Chose to halt discussions with angel investors due to debt and grant funding being better options for the company in the near future. n CrisisVu: Talks with outside investor as a result of relationships built following pitch. Needed to employ sales team and further develop software. n Hybrid Logic: £615,000 investment from UK consortium following pitch in October n Anvil Semiconductors: Interest from investors following February’s meeting n SafeTCone: Three Surrey 100 Club angel investors expressed interest following pitch and talks continued this week.
Town crier David Peters with Georgie Carruthers, Elizabeth Davis (shop manager) Lecia Carr (of Higgidy Pies) and Chloe Smith. Picture: Terry Habgood. (Ref: SA130402_8)
Colourful launch for store THE news that a new clothes shop had arrived in Guildford was heard loud and clear as the town crier attended the welcome party. Clothing brand Joules held a vibrant celebration last month to which everyone was invited to mark the opening of its new shop in the High Street. Known for its bright and colourful designs, equally dazzling sights greeted visitors to the town centre with gift vouchers handed out to eager customers who were first in the queue when the new store’s ribbon was cut. The party, which started at 10am on Friday February 8, included refreshments, colourful sheep and a live mannequin in the
window, all under the ear-splitting commentary of David Peters, Guildford’s town crier and beadle. Offers were displayed and competition prizes were won by customers throughout the weekend. Although a new addition to Guildford High Street, Joules has had a strong connection with the area for nearly 20 years by attending the Surrey Show throughout this time with its country heritageinspired designs. Tom Joule, CEO of Joules, said: “We are really excited about finally getting a store in Guildford. “After attending the Surrey show for such a long time, it feels right to have our own store here on such a great high street.” Sponsor’s feature
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March 2013
Fabulous way to boost business To celebrate International Women’s Day, Surrey Business School will be holding a free Women in Business event, supported by Fabulous Women, on Wednesday March 13. Rebecca Younger caught up with Fabulous Women founder Paullette Schwartz to find out more. IN March last year, Paullette Schwartz set up the first Fabulous Women networking group in Guildford with the aim of providing a support network for women in small businesses across Surrey. Just 12 months later the enterprise now has 51 Fabulous Women groups established across seven regions in the UK. “The idea was to have five or six groups running in Surrey by the end of last year but it’s just grown and grown,” Paullette said. “By the end of last year we had 24 groups running across the South East and we are now getting requests up and down the country.” Up until that stage mother-oftwo Paullette, who lives in Molesey, had been running Fabulous Women single-handedly with the help of what she calls the ‘ambassador’ team. However, it began taking up so much of her time that she accelerated her plans and appointed
regional managers to develop the full range of meetings and services the community needed. The Fabulous Women concept initially started in June 2011 as a fundraising event to support local charities. Within a year the monthly events had raised around £5,000 for charities including Marie Curie Cancer Care and Cancer Research. It was then that Paullette was approached by Jill Bennett now the ‘ambassador’ for Guildford – who suggested Fabulous Women should be run as a networking group. However Paullette is keen to point out that Fabulous Women, which operates as a not-for-profit organisation, is more than just a networking group. “Networking is vital when you are running your own business, it’s how you make contacts and create a network of people who know about you and can recommend
your services to others,” the 44-year-old explained. “However, it goes beyond just getting sales. It’s a way for those with experience to share what they have learned and equally for those who are just starting out, they can get support from those who have been there.” Paullette and members of her team will be supporting a free Women In Business event at the University of Surrey on March 13, where they will run several interactive talks including one on Growing Your Small Business and Developing Your Career Strategy. In a bid to encourage young entrepreneurship, they will also be hosting a Dragons Den type initiative, where members will give feedback to University of Surrey students, who have applied to present their business ideas. “Many women hit their 30s and realise the career they have been following is not really what they
Paullette Schwartz started the group less than a year ago.
want to do, hence why many end up starting their own business at this time,” said Paullette. “There’s a lot of emphasis on finding a life-long career very early on – at just 14 or 15. I don’t think we do enough to encourage young people to discover what they enjoy. In my opinion that’s the area we should be asking kids to develop a career in, not in
banking just because they are good at maths for example.” For Paullette the key to being successful in business is to have ‘absolute belief’, something she encourages all her members to take on board. “We are keen to promote the concept that all women are fabulous and absolute belief is something I talk about a lot,” she said.
“When you start your own enterprise it is far more challenging in some areas than you expected and far less in others. “Sometimes you wake up absolutely terrified but you've got to believe you’re going to make it and you will.” For more information about Fabulous Women visit www.fabulous-women.co.uk.
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HFS Milbourne Financial Services co-founders Rod Milne and Colin HaydenCook (left and right) meet Kenney Jones and a couple of Hurtwood Park Polo Club horses. Picture: Terry Habgood. (Ref: SA130550_2)
Sponsors join polo club in entertaining chukkers A POLO club founded by former The Who, The Faces and The Small Faces drummer, Kenney Jones has received sponsorship from a Guildford-based financial firm. HFS Milbourne Financial Services has entered into a corporate sponsorship agreement with Hurtwood Park Polo Club, in Ewhurst, allowing it to start the new season with renewed optimism. To mark the announcement, co-founders of HFS Milbourne, Rod Milne and Colin Hayden-Cook, joined Mr Jones to be introduced to some of the horses at the club. Mr Milne said: “Polo is a fastpaced team sport and it is thrilling
to experience the excitement of the game pitch side. “We are lucky to have such an up-and-coming local club on our doorstep in Surrey and we are very pleased to lend our support in its continued success through corporate sponsorship. I am sure this will prove to be a mutually beneficial relationship.” Set in 180 acres of Surrey’s outstanding natural beauty, Hurtwood Park Polo Club consists of six polo fields and training areas, plus a restaurant and bar. The 2013 season begins in April and there will be an addition to this year’s summer sporting calendar as Hurtwood Park hosts the
inaugural HFS Milbourne Challenge Cup 2 goal tournament. Teams from around the country will compete to win a place in the final, which will take place on Friday June 14, following qualifying games the previous week. Mr Jones said: “We are delighted to welcome the HFS Milbourne crew as a new addition to the Hurtwood calendar this year. I look forward to watching the final of this exciting new tournament.” HFS Milbourne is authorised and regulated by the FSA and specialises in wealth management, pensions, finance on divorce, employee benefits and corporate financial planning.
March 2013
Investment watch
7
Keeping an eye on the markets
Bullish market takes AAA downgrade in its stride By Philip Scott
Head of Advisory Stockbroking at Simple Investments Current Overview Moody’s has downgraded the UK’s coveted sovereign AAA credit rating to AA1, but let us not forget they also put us on ‘negative watch’ a year ago; so this is not completely unexpected. I suppose the timing of the announcement (last Friday) was a tad surprising, but it is more the fact that for decades this rating has been preserved, until now. Recessions in the 1980s and 1990s and a full blown credit crisis with large scale banking collapses had not impacted our credit worthiness as a nation so it is symbolic (if not financially disastrous), that we receive it now. The UK economy is struggling (that is well documented), but both the USA and France have both also been similarly downgraded in the not so distant past with little negative repercussions. Whether this downgrade makes it more expensive for the UK to borrow remains to be seen, but the general market reaction thus far is muted. Sterling has moved lower but this won’t hurt our export competitiveness even if it creates further inflationary pressure. Some
struggle to afford the rating agencies any credibility anyway after their hideous misdiagnosis of the risks attached to subprime securities largely responsible for the credit crisis we are slowly emerging from. It will nonetheless be of interest to see if either Fitch or S&P also now downgrade. Of interest now is what the Chancellor will have to say in the budget on March 20. It seems the pressure is rising for new policies to promote growth with a potential relaxation on the austerity pedal. It is obviously a difficult scenario to manage: to cut the deficit (through tax rises and spending cuts most of the time) but to maintain economic growth. In reality it is likely that overall borrowing levels will continue to rise until 2016 and growth rates will remain meagre. We probably shouldn’t expect to retain the AAA rating from Moody’s in a hurry either! The impact to many of the large UK listed companies of this downgrade are likely to be minimal. With diverse international operations, revenue and profitability levels arising from numerous sources, it does not necessarily surprise me to see the stock market actually higher as I write despite the recent news.
Boss takes up challenge of living on just £71 A CHIEF executive of a computing firm today (Friday) begins a charity challenge to abandon life’s luxuries to live off the equivalent of a week’s out-of-work benefits. Inspired by the 1980s film of the same name, starring Eddie Murphy and Dan Ackroyd, the Fredericks Foundation’s annual Trading Places challenge runs from today to March 8 and sees participants live off just £71 – a single person’s job seeker’s allowance (JSA) payment. The challenge is aimed at giving people in high-power business positions a glimpse of the difficulties faced by people struggling to get by while trying to find work. Vin Murria, CEO of Cobhambased Advanced Computer Software Group, is one of those to try living off the allowance while also donating £71 to Fredericks Foundation. Vin said: “This is a real challenge but I believe passionately in helping people to help themselves which is why I support this event and this charity.” Fredericks Foundation is a nonprofit organisation that provides vital microfinance support to those wanting to start their own business but who have no means of financing it.
Vin Murria.
It aims to foster the growth of small businesses, which are said to be vital to the economy. Paul Barry-Walsh, chairman of Fredericks Foundation, said: “This challenge will hopefully demonstrate how hard it is to save capital to start a business when you are out of a job. The more people that get involved, the more people we can get back working again and off JSA.”
Government bond (yields) prices are theoretically more likely to be impacted by the additional potential pressure to government borrowing capabilities going forward. Market specific comment The UK market has remained well supported over the last month having traded over 6400 a week ago. This represents near five-year highs. General support for equities continues as a result of the income yield achievable from many stocks in the face of lower yielding alternatives. The ongoing movement of funds out of bonds and into shares is probably also adding support. There remains a medium-tolonger term view that the economy will recover and shares are the optimal way to be exposed. We await news from the US relating to spending cuts, but will we get it? This update has been delayed already, but implications are real for the progress of the US economy, specifically in areas such as defence for example. Friday March 1 is a Washington deadline date. I maintain however that an air of complacency still exists and that while ‘risk on’ appetite remains, things can change quickly. Eurozone woes remain and companies continue to describe very
challenging conditions in this area. We are currently in the middle of Italian elections and the public there will not be supportive of the need to implement austerity which is key to debt reduction. A political deadlock looks likely. Thus I see near term reasons to rattle markets and I have been holding degrees of cash in portfolios to take advantage of a potential pull back in prices. Finally, gold bulls are being tested as technically the price is starting to break down (currently it is $1585 per ounce). Comments from the US Fed have suggested that QE money printing may be coming to an end. QE is indicative of ongoing economic difficulties and tends to bring support for safe haven gold buying. On the other hand, QE looks likely to be increased here in the UK, which may assist the gold price. While having to keep a very close eye on the chart, I believe some exposure (for a degree of hedge) for clients is reasonable. If markets in general do start to slip, support for gold may also re-emerge. This report was written by Philip Scott, Head of Advisory Stockbroking at Simple Investments on 25/2/13 when the FTSE 100 was trading at 6355.
Philip Scott of Simple Investments.
Cameron’s pledge on EU vote creates uncertainty for companies SURREY companies may be abandoning plans to export their services at a time when this is most needed, following the uncertainty over Britain’s future membership of the EU. Brian Farrugia, chairman of business-led economic development company Surrey Connects, has expressed concerns that an in-out referendum on the EU that has been heavily suggested by Prime Minister David Cameron could put off the county’s business leaders investing in export activity. Surrey Connects was launched in June last year with the aim of doubling the Surrey economy to £52bn by 2030, with a key objective to secure a future in the global marketplace. One of the eight priorities outlined at the launch was to stimulate international trade and exporting activity by Surrey companies. However, Mr Cameron’s pledge to seek the view of Britain’s public, was seen as a blow to these plans. Mr Farrugia, who has international business experience himself, said: “Exporting is a vital part of the local economy, and
Brian Farrugia.
research shows that exporters achieve higher levels of business growth and job creation. “However, a firm’s decision to export will be strongly influenced by the perceptions of risks as well as the benefits. “My concern is that uncertainty about the future of Britain’s relationship with the EU may lead to
companies postponing their investment in export activity at a time when it is greatly needed.” He added that he feared some global firms that have located in Surrey could decide to consolidate their European operations if the current situation changed. Mr Cameron, under pressure from some Conservative members, did suggest more recently that a referendum would only take place if the coalition government in place now became a Tory-only one. The Liberal Democrats have strongly opposed cutting Britain’s ties with Europe. As an EU member, Britain is part of the biggest single market in the world and businesses benefit from a lack of customs duties and tariffs and the fact they need only adhere to one definitive list of trading rules. Businesses are therefore able to tap into strong demand for certain products in foreign countries with relative ease. In the third quarter of 2012, exports to the EU from the SouthEast were worth £10.2bn, up from £9.9 billion a year earlier.
One Surrey company doing just this is Dorking-based IT firm NaMax DI, which has made a success of exporting its programmes into growing global markets. Rather than EU members, though, the company has targeted countries such as Oman, the UAE and Kenya, and CEO Charles Brewer said he believed the company may actually gain if government links were instead set up with sub-Saharan Africa or south -east Asia. “Essentially, we decided that Europe was pretty much moribund for our kind of product,” he said. “The UK’s traditional focus on global trade could be the beginning of a new era of export-led prosperity to the growing world economies. “I understand from senior contacts in Oman that as a result of David Cameron’s visit late last year, not to mention that of the Queen a while ago, that our national stock is very high in the region, and that the benefits of close and continued contact in the Gulf Cooperation Council in particular are potentially very great indeed.”
8
March 2013 Sponsor’s feature
Is it time to get your heads in the cloud? Cloud computing is often heralded as the Holy Grail for firms looking for IT systems that are robust yet flexible, says Andy Houston of Arcom IT. What benefits can it offer?
Charters Group operations director Derek McQueen, left, with Andy Houston from Arcom IT. Picture: Alistair Wilson. (Ref: AN131403_2)
Arcom IT helps dealership into top gear Charters Group is a family-owned Peugeot and Citroen car dealership established more than 100 years ago. Its operations director, Derek McQueen, talks about how Arcom IT’s expert services helped the firm create a long-term technology strategy. “Our technology used to be quite disparate and we dealt with a variety of companies, which was time consuming. Several years ago we put out our IT requirements to tender and this was subsequently awarded to Arcom IT. “The team at Arcom surveyed our business and gave us realistic recommendations for short-, medium- and long-term use of
technology. Our IT systems are now fully integrated, far more manageable, giving us control and actually saving us money. “One of the issues we used to worry about was the security of our data, in particular our extensive customer database. Our information is now safely held on external servers managed by Arcom IT, with an automated
back-up facility. We can get on with selling and maintaining cars with no technical distractions, knowing our data is totally secure and our systems scaleable. “All our IT systems are now in the cloud, we don’t have any of our own servers to worry about or software upgrades etc, and the support team at Arcom IT has been fantastic.”
De-mystifying the Cloud. Cloud event at The Lightbox on 23rd April.
Local technology experts Arcom IT will be joined by leading technology vendors to give you a jargon free, educational seminar about the benefits of “cloud” computing. Networking breakfast included, and a chance to look around the award-winning Lightbox art gallery and museum.
Cloud computing is the most exciting development in technology in recent times. The numerous benefits associated with accessing data and/or applications via the Internet – otherwise known as ‘the cloud’ – are increasingly being adopted by Surrey businesses. n The Key benefits of cloud computing Many of our customers are already storing and accessing data via the cloud. The potential to reduce a firm’s expenditure on computer hardware is a compelling argument for cloud computing. With a traditional IT set-up, the purchase of a database server is quite often required as well as a separate email server. Any costs related to installation, maintenance and support typically come on top of these initial expenses. In addition, most firms will need to either upgrade or replace at least some of this hardware every three years, again at considerable cost. n Smaller firms embrace the cloud Cloud computing has proved to be very popular with smaller
firms as the speed and cost of implementation can be much lower than those involved with a traditional IT infrastructure. For smaller firms, scalability is another plus when it comes to cloud computing since additional users/licences (or even offices) can be added to a cloud-based solution easily, without the need for additional hardware, local installation and set-up. This same benefit applies when software needs to be updated. Cloud computing also makes remote access easier as the firm’s software and data are available from anywhere via a simple Internet connection, whether access is needed by multiple offices, from employees working at home or travelling on business. n Downtime and disaster recovery With data held in the cloud, replicated across multiple data centres, a firm is no longer responsible for application availability or the consequences of disruption be it from power, networking, hardware or software failure. Firms using the cloud computing model can simply con-
tinue accessing their applications. In the unlikely event a business were to lose access to its physical office the employees can work from another office the next day; indeed Arcom IT offers emergency office accommodation for clients as a provision. n Security in the cloud Is it really any more or less secure to access documents via the cloud than from a firm’s own server? It can be said that security is now more secure with cloud computing due to economies of scale and the fact data is held centrally at secure anonymous locations that are manned by experts 24/7. n The future As anywhere/anytime/any device access to important business data gathers momentum, the whole idea of ‘your computer’ is slipping away and being replaced with ‘your data’. In other words, you will be able to get your data from any computer, laptop or smartphone whenever and wherever you choose. Or if you just want to work from home to wait in for a furniture delivery, now it’s easy.
Start time – 07:30 Arrive and breakfast (bacon rolls, pastries, tea and coffee) 08:00 Event start – 10am finish TOPICS
Microsoft Cloud Solutions Hosted IP Telephony Virtual Office/Cloud Backup To book your place, please call Arcom IT on 01483 505055 Mark Newnham (left) and Andy Houston (right) with Neha Kohli from Microsoft.
Arcom IT qualifies for Microsoft program W: www.arcomit.co.uk | E: info@arcomit.co.uk | T: 01483 505055
Arcom IT Ltd, Export House, Cawsey Way,Woking, Surrey GU21 6QX
Arcom IT Sussex Office, 2 Tarmount Lane,Tarmount Studios, Shoreham-by-Sea, West Sussex, BN43 6DA,
Arcom IT Gibraltar Office Unit 2b, Garrison House, 3 Library Ramp, Gibraltar.
Arcom IT has qualified as a member of the Microsoft Cloud Accelerate program by demonstrating its ability to meet Microsoft’s customers’ evolving needs in today’s dynamic cloud market place. “We are excited about Arcom IT
joining the Microsoft Cloud Accelerate program, which provides top cloud partners with technical and business support to build and sell cloud solutions based on Microsoft technologies, offering incredible value to customers,” said Josh Waldo, senior
director in the Worldwide Partner Group at Microsoft. “The partners in this program are doing amazing things and are looking to differentiate their business and better serve customers with Microsoft cloud solutions.”