Brick factory re-opens to help country build again 3 Funeral director makes Farewells more memorable 5 County is flying the international flag 6 Partnership sets a gold standard for tradesmen 7
March 2015
getsurrey.co.uk/business in association with
Trademark row gets Hazy Hogs Back Brewery begins court proceedings over what it believes is an infringement to its Hazy Hog cider trademark by drinks industry giant Magners GB, which has launched its very own Shepton’s Cider Hog dispenser brand By Jennifer Morris
jennifer.morris@trinitymirror.com
The Hogs Back Brewery owner Rupert Thompson, pictured in 2013 at the launch of the brewery’s Hazy Hog cider. Picture: Alistair Wilson.
A SURREY brewery has made the decision to take on a drinks industry giant in the courts. Last month, Hogs Back Brewery started proceedings in the High Court of Justice Chancery Division – the intellectual property enterprise court – against Magners GB, which it believes has infringed its cider trademark, Hazy Hog. Hogs Back launched Hazy Hog in March 2013 as a ‘distinctly different cloudy cider’. The owner of the Tongham-based brewery, Rupert Thompson, said: “We believe the name and branding clearly indicate its distinctive character and firmly position it as part of the established Hogs Back range. We registered the name in Trade Mark Class 33, for cider, to complement our other rights in the name. The brand has been well received and is growing. “Magners business, Shepton Cider Mill subsequently launched a cider product in a portable barrel in June 2014. They branded it Cider Hog and registered that name in relation to refrigerated packaging in Trade Mark Class 11, as opposed to Cider, in Class 33. We believe that in practice most customers would see the name Cider Hog as a trademark for the cider, rather than the packaging that contains
it, and Magners are therefore using the name in relation to cider, which is in direct conflict to our registration. “Additionally, they are using a name and imagery which is similar to ours. Over the past seven months we have tried to find a solution which would satisfy both parties, but without success. “Regrettably, we have turned to court proceedings but still hope that discussions may generate an acceptable resolution.”
‘We believe the [Hazy Hog] name and branding clearly indicate its distinctive character and firmly position it as part of the established Hogs Back range.’ Rupert Thompson Hogs Back Brewery was founded in 1992 in the heart of what is a traditional hop growing area of the county. Its flagship brand TEA, or Traditional English Ale, is a leading independent ale in Surrey and increasing in popularity throughout London and the South East, as well as being sold in supermarkets. The company’s range has won many awards and also includes cask ales Snout and Ripsnorter, as well as bottled beers OTT and A over T. More recently, the brewery launched a long-matured craft lager, Hogstar, as well
as the Hazy Hog. The brewery planted its own hop field last year on neighbouring land, bringing the traditional – but near-extinct – White Bine hop variety back to Surrey. In response to Hogs Back’s comments, the C&C Group, which owns the Magners brand, said in a statement: “We do not believe that there is any possibility of confusion between our dispenser, Shepton’s Cider Hog, sourced from our well-known Shepton Mallet Cider Mill, and bottles of Hazy Hog cider. “One is a drink and the other a dispenser, and there is no similarity in design. “We have sought to settle this amicably for some time and we are still open to discussion, but if that does not turn out to be possible then we are confident of successfully defending the claim and our trademark”. Mr Thompson began his career at Bass Brewers, where he was brand director, marketing Carling lager. In 1999 he established beer marketing business Refresh UK and purchased the Ushers and Brakspear brands as well as Wychwood Brewery, developing the Hobgoblin ale brand. He sold Refresh to Marston’s in 2008 and acquired Hogs Back Brewery in 2012. Mr Thompson was also a co-founder of both Cask Marque and the Beer Academy.
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March 2015
My first job CONSTRUCTION company Beard has appointed a new special works manager at its Guildford office. Tony Taylor will have responsibility for projects across the Guildford area worth between £300,000 and £2.5 million. His role will include ensuring that projects are completed on time and within budget. Mr Taylor previously worked for Morgan Sindall. Guildford director Guy Hannell, said: “Tony is a highly experienced and capable contracts manager with significant expertise in managing construction projects across a range of sectors. He joins Beard at a time of considerable growth in the region and I am confident that he will be a great asset to the business. We are delighted to have him on board.” SLYFIELD-based self storage company, Kelly’s Storage has once again been included in The Sunday Times’ Top 100 Best Small Companies to Work For list. The business, which has been located in Guildford for more than 75 years, was placed at number 16. Company director, Paul Martin, said: “As a family business we believe that creating a great place to work will continue to inspire our employees in our mission to provide exceptional customer experience.” Andrew Gilroy, a driver with the firm for more than 20 years, added: “I’ve had lots of jobs but have never worked for a company that treated you as a family. In big companies you get lost in the motion. Here, you are a person and that’s worth a million pounds.” Surrey students are being encouraged to register for the CIMA Global Business Challenge 2015. Entries for the international business competition should be entered ahead of the March 23 deadline. Organised by the Chartered Institute of Management Accountants, the contest is an opportunity for business leaders of the future to show their talent in business management. Entrants must form a team of four to compete. Acting as consultant, they will analyse and solve a real-life business case study. Winners will receive an all-expenses-paid trip to Warsaw to take part in the global final. For details, visit www.cimaglobal.com. The UK tax system is costing small and medium businesses (SMEs) in the South East up to £2.2 billion in hidden costs per year, according to new research from The Association of Accounting Technicians (AAT). Research showed that 75% of SMEs surveyed in the region said the UK tax system is too complicated. In the wake of the findings, AAT has recommended combining income tax and national insurance – making it simpler for businesses and individuals to understand their tax affairs. Another suggestion was to streamline tax bands and thresholds, and reduce the number of reliefs and rules; making it easier and less open to exploitation.
Editorial Director Marnie Wilson Group Deputy Editor Mark Miseldine Business News Jennifer Morris Commercial Manager Amanda Ducas Regional Sales Manager Ian Bresman
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Petra Clayton, managing director of Custard Communications What was your first job? “My first part-time job was in a Wimpy restaurant, but my first full-time job was at Pelican Restaurants as a PA to the development director.” How did you get from there to where you are today? “I studied business and finance at the London Institute and loved all the marketing and PR modules. I moved quickly when a job came up at P&O Cruises for a marketing assistant. “I worked hard and studied for my CIM certificate and postgraduate diploma, and became the PR and loyalty manager. During this time I was developing a real love for cooking and the restaurant trade. “I studied at Leiths Cooking School in the evenings and decided to take a year out to train as a chef at Tante Marie, in Woking. “I absolutely loved it, it taught me so much about teamwork and pressure, and
was rewarding. But I missed marketing, so after a few interesting jobs I went to work for a marketing agency as an account director. “I also completed a masters in strategic marketing management during this time, which gave me the confidence to progress to teaching the CIM diploma. “A year later I joined the Institute of Hospitality as the director of marketing and communications. The role enabled me to see the industry from every perspective. “I always knew I wanted to run my own business, so seven years ago I created Custard Communications to bring marketing and hospitality together.” What lessons has your career taught you? “First is definitely to create your own fortune. “Nobody hands you anything, and if you lead with your heart and understand what excites you most, you’ll
Petra Clayton.
definitely have a rewarding career. I’ve never listened to caution and have always acted spontaneously, and this has worked really well for me but it doesn’t work for everyone. “I don’t let people dampen my enthusiasm or passion. Client feedback is great but I really value the networking opportunities with
What does the future hold? “This year is about aggressive, but controlled, growth. We will be building upon our reputation and the great team we have created. “We want to help more hotels, restaurants and venues to grow.”
New store allows you to furnish your home the fair trade way A FAIR trade furniture shop opened in Guildford High Street last weekend, with the added help of a popular face from television. The Guildford branch, at number 196, will be Myakka’s first store, after the company opened a warehouse outlet in Wincanton, Somerset, several years ago. And their grand opening coincided with the first weekend of the national Fairtrade Fortnight campaign, which runs from February 23 to March 8. Myakka describes itself as offering customers a carefully selected, hand-crafted, affordable range of solid wood furniture, home accessories and unique gifts based on trading fairly and ethically. The company was founded by Simon Whitehead and Georgie Hopkins in 1999 and, as an existing customer of Myakka, actor Jules Knight, of Holby City fame, was selected to open the shop.
Mr Whitehead said: “When Georgie and I started Myakka our aim was to provide beautifully designed furniture that was affordable and great quality, based on the founding principle of trading fairly and ethically. “For the past 16 years customers have been able to buy Myakka products through our mail order catalogues, e-commerce website and our warehouse outlet in Somerset – and now we can include a dedicated shop. “This is a really exciting new stage for us, and a culmination of an immense amount of hard work and determination from a very dedicated team of people. “Our customers have enabled us to help communities in India, Thailand, Indonesia and, most recently, Vietnam. “The underlying business model for us is very simple. It is to trade with people as we’d like to be dealt with ourselves.
It’s actually quite straightforward. We buy from our suppliers and they pass on a share of their profits; our customers buy from us and we pass on a share of our profits.” Myakka has been recognised by BAFTS (the British Association for Fair Trade Shops and Suppliers) since 2006, has held the Ethical Award for corporate social responsibility since 2009 and is now featured in the Good Shopping Guide. It also received full marks last year from the Ethical Company Organisation. Mrs Hopkins added: This is a really exciting time for Myakka. We have a very different approach to fair trade. Our products are design-led pieces in fresh, individual styles that are perfect for modern living. It is fantastic to be able to provide customers with an opportunity to see and touch products before they buy, particularly with the
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other business owners to provide support and ideas.”
Actor Jules Knight (centre) joins Simon Whitehead and Georgie Hopkins to cut the ribbon at the opening of the new Myakka fair trade furniture shop in Guildford High Street. Picture: Gareth Davies.
larger furniture. Our furniture is exclusively designed by us. “We fully understand that in today’s market, maintaining a high standard of personal customer service is essential. We like to think we’re honest, friendly and easy to deal with, which is why our customers return to us.” Fair trade is about better prices, decent working conditions and fair terms of trade for farmers and workers, and Fairtrade Fortnight is a drive to raise awareness of the movement. Mr Knight added: “I’m a Myakka customer and a big fan of the company and its ethics. There is beautiful furniture made in India and South East Asia, and it’s great to be able to buy that product here in the UK. “But it has to be sourced in the right way and not to the detriment of those who make it, and Myakka does that. I wish the shop every success.”
March 2015
Re-opening of brick factory helps country to start building again
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By Jennifer Morris
jennifer.morris@trinitymirror.com A VACANT brick factory in Ockley has been brought back to life following a £25 million pledge to increase the country’s housing stock. Wienerberger’s Ewhurst factory, in Horsham Road, was re-opened on Monday by Brandon Lewis MP, minister of state for housing and planning. Founded in Vienna in 1819, Wienerberger is one of the world’s largest brick manufacturers and a European market leader in clay roof tiles. The Surrey factory will contribute to an increase in the firm’s brick production by 200 million units annually – the equivalent of approximately 25,000 new homes. After opening as Smokejacks Brickworks in the 1920s, the factory was later known as the Ewhurst and Ockley Works. Yet, despite a multimillion pound refit in 1999, the works was semi-dormant for a number of years. The quarry site is designated a Site of Special Scientific Interest for its geological characteristics, and was the site of two of the most significant finds of dinosaur remains in the UK. The remains of a Baryonyx Walkeri – a fish-eating dinosaur – was discovered in 1983, and the most complete Iguanadon ever found in the UK was unearthed in 2001. Monday’s re-opening of
Lesley Jones, Katherine Hammersley and Tim Sharp, of the Prostate Project, with Anne Milton MP and Stephen Windsor-Lewis, of BOC, at a speed dating-style event hosted by the gas supplier that encouraged charities and businesses to form closer relationships. Picture: Grahame Larter.
Charities and businesses get together after a quick chat Brandon Lewis MP officially re-opens the Wienerberger brick factory, at the Ewhurst Works in Horsham Road, Ockley. Pictures: Steve Porter.
the factory, which was closed in 2008 during the downturn in house building, follows the opening of the company’s brick factory in Hartlebury, Worcestershire, last summer – the first of a string of initiatives help get Britain building again. Harald Schwarzmayr, managing director of Wienerberger UK, said: “The re-opening of the Ewhurst brick factory is not only great news for the economy, but represents a new lease of life for the construction industry. “December 2014 saw the fastest paced growth within the sector in six-and-ahalf years and marked eight consecutive months of development; moreover, forecasts predict an incremental rise in construction between 2015 and 2018. “By investing in materials and individuals we are confident that the housing sector
will be able to reach its annual target of 250,000 new properties.” Mr Lewis said: “It’s been a key part of our long-term economic plan to get the country building again and it’s working, with housebuilding at its highest annual total since 2007, and nearly 192,000 people helped to buy or reserve a new home. “So I’m delighted that the factory at Ewhurst is re-opening in response to this increased demand for bricks – a site that was mothballed in 2008 is now back up and running, which will contribute to providing jobs for 150 people.” Mr Schwarzmayr continued: “There are still challenges that the industry must overcome. The burgeoning issues include the affordability of housing alongside the availability of mortgages. “The skills shortage facing
Broadcaster and art historian Dan Cruickshank was also part of the delegation at the factory’s re-opening.
the construction industry is also set to become a considerable future obstacle alongside the availability of land and planning regulations. “Once the materials are fully meeting demand however, the industry will be better placed to surmount these additional issues.”
Satellite firm appoints Group chief
Patrick Wood.
Surrey Satellite Technology has appointed a new group chief executive officer. The organisation, known as SSTL, which is based at Surrey Research Park, has appointed Patrick Wood, who will take up his role on April 1. Mr Wood joins SSTL from Airbus Defence and Space, where he was most recently head of engineering and operations, and an Airbus Group executive. He has previously steered the Skynet 5 programme to success, including in-orbit delivery of three geo-
stationary military telecommunications satellites and associated ground network and infrastructure. Sir Martin Sweeting, executive chairman of SSTL, said: “We are very fortunate indeed in finding someone with Patrick’s rare combination of detailed engineering experience, proven management capability and passion for satellites to join SSTL. “He takes up this important role at a time when the small satellite industry is burgeoning and he will be taking
charge of a full production line at SSTL, where we have 21 satellites and 22 Galileo payloads currently in manufacture.” Mr Wood added: “Leading the SSTL group is a fantastic opportunity and I am very much looking forward to the challenge. SSTL has a remarkable 30-year record of driving key innovations in space and is perfectly placed to continue to drive change in the future, especially now that more and more of our day-to-day services rely on satellite systems.”
100 club has 30 million reasons to cheer THE University of Surrey’s 100 Club has announced that the funding raised by companies it has helped has topped £30 million. The Surrey 100 Club is a matching service for those signed up to the Angel Investment Network, which seeks investment opportunities, and entrepreneurs seeking capital.
The club claims to be the South East’s leading Angel Investment Network. It provides coaching to early-stage businesses seeking funding and does not charge any fees or take a share of any investment its companies achieve, making it almost unique among Angel networks. The club carefully selects a
crop of businesses from a range of sectors, showcasing those ventures that are ready for investment at the club evenings. To date, the Surrey 100 team has supported more than 150 businesses from its own incubators, the SETsquared Partnership and other incubator and innovation centres across the UK. They support each business
with their expertise to maximise their chance of securing investment. Sarah De’Lacy, the director and co-founder of the Surrey 100 Club, said: “This is fantastic news for the University of Surrey and a testament to the team that dedicate themselves to supporting each and every business who presents at the club.”
GAS supplier BOC hosted a speed dating event with a difference last Friday. The company, based at Surrey Research Park, welcomed businesses and charities – in collaboration with Guildford MP Anne Milton – to a fast-paced networking event that helped the charities to tap into the huge potential resource of the local business community. Among the 18 charities that took part were CAB, Carers Support, Guildford Action, the halow project and Shooting Star CHASE. In a speed-dating format,
they had a few minutes to spend with as many organisations as possible to find out how their knowledge, skills and aspirations can bring mutual benefit. Businesses that attended included Barclays, Barlow Robbins, Sanofi, Surrey Chambers of Commerce, Surrey Satellite Technology and the University of Law – as well as BOC. Mrs Milton opened the event and said: “Businesses in Guildford often tell me they want to get more involved in the local community, and this is a chance for
them to do just that. I was delighted when I visited BOC last November and we discussed corporate social responsibility and the work BOC have done through their involvement in groups like Breathe Easy, a support group for people with chronic lung disease.” Stephen Windsor-Lewis, BOC’s head of communications, said: “The event is just the start of something hopefully much, much bigger. Our hope is the various dialogues that have begun today will be converted into mutually beneficial relationships.”
March 2015
“Don’t mix business with pleasure” they said.
“Live dangerously” we said.
co.uk
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PRESENTS...
BUSINESS AWARDS HG Wells Centre, Woking Thursday 23 April 2015 Join us for a glittering black-tie awards dinner with champagne reception and live entertainment. A fabulous evening out coupled with the opportunity to celebrate, and network with, the very brightest and best of Surrey’s thriving business community.
FOR INFORMATION & TICKETS VISIT WWW.GETSURREY.CO.UK TOAST OF SURREY BUSINESS AWARDS 2015 IS BROUGHT TO YOU IN ASSOCIATION WITH...
Funeral director to make Farewells more memorable By Jennifer Morris
jennifer.morris@trinitymirror.com A MOTHER-OF-FOUR has celebrated the launch of her new funeral director business – Dandelion Farewells. Judith Dandy, 41, held the launch event at Clandon Wood Natural Burial Ground last month, marking what she hopes will be the beginning of a ‘new era’ for funeral services in the area. It is intended that the independent funeral company will offer a more tailored and personal approach to how people care for and say goodbye to loved ones, than is currently the norm. The launch was attended by a number of other funeral directors and ministers from across the South, as well as other representatives of the industry, and was the culmination of more than a year’s work by Mrs Dandy, who is
based in Bucks Green, West Sussex, but will cater for anyone within a 30-mile radius of Horsham. Mrs Dandy’s vision is to make funeral arrangements much more bespoke and reflective of a person’s life, than is currently available. She wants people to know about the choices available to them when it comes to marking a loved one’s death. “Dandelion Farewells is about what is right for you and your family,” she said. “Some may be looking for something more natural than a traditional burial or cremation, others may be looking for something very personal and representative of a person’s life. “They may want to care for the deceased at home or hold the service either at home or just somewhere different from the more traditional venues. What I want to
do is create awareness of the many alternatives and make the planning and creation of those last days a positive and truly memorable experience. “A funeral, and the days surrounding it, are so pivotal to the grieving process – it’s vital to get it right – and doing so really doesn’t have to be difficult or to cost the earth anymore.” Mrs Dandy has a professional background as a social worker and in events management. She describes her decision to launch a funeral company as the result of a ‘tapestry of co-incidences’, and she spent more than a year researching, learning about and immersing herself in the many aspects of the industry before launching the Dandelion Farewells brand. And she has already organised her first funeral. Dandelion Farewells operates within a moderate
business model, using a Chrysler for a hearse and only hiring additional vehicles or services as instructed for each funeral. “People often assume there are regulations about using a traditional hearse and all those things, but it really doesn’t have to be like that,” continued Mrs Dandy. “Picking your own flowers from your garden is perfectly acceptable, for example. “That’s not to say we can’t keep the more traditional aspects if the family wants it. Just that we believe people should feel comfortable to make their own choices.” Mrs Dandy, who has children aged seven, 10, 12 and 14, said there is often a preconception that bespoke services will cost more. “That’s not the case with Dandelion Farewells,” she said. “I don’t have the same overheads.”
March 2015
Mum-of-four Judith Dandy promised a ‘new era’ for funeral services with the launch of Dandelion Farewells at Clandon Wood Natural Burial Ground. Picture: Chris Whiteoak.
Sponsor’s feature
Grow together – the benefits of employee share schemes Liz Gillingham, an associate in the corporate team at Penningtons Manches’ Guildford office, examines how companies can use their shares to incentivise employees Against a backdrop of economic pressure and stiff competition, growing companies seek to recruit, retain and incentivise their staff by offering them opportunities to acquire shares in the company as part of their benefits package, in place of cash. However, one of the greatest challenges such companies face is to strike a successful balance between maximising the incentive value while minimising the adverse tax consequences. Enterprise Management Incentives (EMI) options are usually the most flexible and advantageous type of share incentive scheme, and are specifically targeted at small, higher-risk trading companies. To qualify to grant EMI options, a company must be an independent trading company with gross assets of no more than £30m, and fewer than the equivalent of 250 full-time employees However, there are also limits on the types of trading activities that may be carried out by the company and rules relating to the shares that can be used for EMI options. An alternative is ‘growth shares’. These are a special class of shares designed to allow the holders to
benefit from growth in the value of the company from the time the shares are issued, or when a particular exit value has been achieved. For example, if a company is worth £5m, the growth shares
‘These shares incentivise employees to contribute to the success of the company as they have a direct stake in its growth.’ would participate in growth above £5m. These shares incentivise employees to contribute to the success of the company as they have a direct stake in its growth. The effect of the qualifying criteria is that, on issue, the value of the shares is substantially lower than that of the ordinary shares in the company. Employees can usually subscribe for the shares at minimal cost and,
if the criteria are achieved, share in the success of the company with their gain on the shares being taxed at capital gains rather than income tax rates. Structuring these growth share schemes is often complex and risky because the value of the shares cannot be agreed with HMRC before they are issued, and HMRC argues for income tax treatment on a disposal if the rights are not properly structured. However, despite this risk, they have significant advantages over unapproved options and alternatives to EMI. Since employees typically hold growth shares from the outset, companies should think carefully about how they will manage the issues that can arise from having employee shareholders (as opposed to options that can be cancelled when the employee leaves). Typically, if an employee shareholder leaves the company, the growth shares should be recovered so value is not going to someone who is no longer contributing to the business. As such, the employee agreements and the company’s articles of association should be carefully drafted in order to ensure that
Liz Gillingham is an associate in the corporate team at Penningtons Manches, in Guildford.
those shares can be brought back under the company’s control. n For more information on how companies can implement growth shares and other employee incentive arrangements to deliver best value for the business and its shareholders, please call Penningtons Manches’ corporate team on 01483 791800.
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March 2015
County is flying the international flag ExportSurrey celebrates its first birthday this month, so Surrey Chambers of Commerce looks back at the successes the programme has already achieved. ExportSurrey acts as a signpost service that helps businesses get the advice they need in today’s competitive global market. The programme provides expert training, webinars and networking events on a variety of related international trade topics; from exploring new markets to training staff on the mechanics of exporting.
Previous events have covered country-specific topics, including everything you need to know about trading in India and China, providing attendees with a wealth of knowledge, support and contacts. This month’s event, on March 12 in Woking, focuses on the opportunities in Mexico and Brazil. It includes an opportunity to network with businesses whose personal export journey will provide delegates with invaluable information and insight into these rapidly growing markets.
ExportSurrey has also welcomed exciting international delegations from Asia, Poland, the USA and India to meet with local organisations and develop strong relationships between these nations. ExportSurrey works oneto-one on a daily basis with Surrey-based companies looking to export their products and services abroad. DreamingFishProductions – a production company specialising in corporate video and animation – approached ExportSurrey after
trading overseas for the past few years and wanting to focus more strategically on international markets. Phil Miller, the company’s managing director, said: “We had meetings with ExportSurrey and, as a result, UK Trade & Investment (UKTI). Since these meetings have taken place we have gained two new US clients as well as building the level of work we do for existing customers in the US and Australia. “Following the success of these two projects, we have launched a new online
animation product targeted at SMEs in the UK, US and Australia, with New Zealand and Singapore following shortly. Singapore was not on our radar until we attended an ExportSurrey webinar. “We are very grateful to ExportSurrey and UKTI for their continued support in helping us realise our international ambitions, and look forward to continued collaboration in the future.” Project lead Sarah Butcher, added: “British products are in high demand around the world and the
global profile is at an all-time high. Only one-in-five British SMEs are already exporting their goods and services so the potential for growth is enormous. We aim to make sure Surrey businesses have every chance of success when entering these new markets, allowing them to reap the benefits of trading internationally. We very much look forward to continuing this programme in 2015 and getting Surrey business on the international map – making our county the place to do business.”
About ExportSurrey Surrey Chambers, in partnership with Surrey Connects, launched ExportSurrey in March 2014 to promote the business benefits that trading overseas can bring. The service, headed by Sarah Butcher, links local businesses with practical support to help them export for the first time or expand into new countries. For details and advice on trading internationally, contact Sarah on sarah.butcher @surrey-chambers.co.uk, or follow @ExportSurrey.
March Chamber Connections Waverley, The Manor House, Godalming. Members £12, non-members £20;
8am
9.30am
10 Tue
Chamber Connections Epsom, Epsom Downs Racecourse, Epsom. Members £12, non-members £20;
8am
9.30am
10 Tue
International Women’s Day Celebration, WWF Living Planet Centre, Woking. Members £20, non-members £30;
5pm
9pm
11 Wed
Presentation Excellence Workshop – Presenting Without Fear, Arcom IT, Woking. Members £75, non-members £95;
8.45am
1pm
11 Wed
Managing People – Top 10 Issues, Charles Russell Speechlys LLP, Guildford. Members FREE, non-members FREE;
9am
11am
12 Thu
Trading with Mexico and Brazil, The Holiday Inn Woking. Members £10, non-members £15;
7.30am
10am
12 Thu
Apprenticeship Challenge Celebration, Guildford College Group, Guildford. Members FREE, non-members FREE;
5pm
7.30pm
13
Fri
Chamber Connections Woking, The Holiday Inn Woking. Members £12, non-members £20;
8am
9.30am
13
Fri
Badminton Networking Event, Lightwater Leisure Centre, Lightwater. Members £10, non-members £15;
6pm
8pm
17 Tue
Construction and Property Forum Breakfast – Visit to WWF The Living Planet Centre, Woking. Members £22, non-members £35;
7.30am
10am
17 Tue
Different Leadership Styles, The County Club, Guildford. Members £22, non-members £35.
5.30pm
8.30pm
18 Wed
Chamber Connections Guildford, The Refectory, Guildford Cathedral. Members £12, non-members £20;
8am
9.30am
19 Thu
Open 18 Hole Golf Competition at Hindhead Golf Club, Churt Road, Hindhead. Members £79, non-members £100;
9am
5.30pm
19 Thu
Members Networking Evening, Radisson Blu Edwardian Guildford Hotel, Guildford. Members FREE, non-members £30;
6pm
8pm
23 Mon
Wellness in the Workplace Expo, Surrey Sports Park Ltd – University of Surrey. Members FREE, non-members FREE;
6pm
8.30pm
25 Wed
Businesswomen in Surrey at Pennyhill Park, Pennyhill Park Hotel & Spa, Bagshot. Members £22, non-members £40.
3.30pm
5.30pm
9 Mon
To book, visit www.surrey-chambers.co.uk or call 01483 735540 (All prices are exclusive of VAT)
The WWF Living Planet Centre, in Woking, will host the county’s business women for an International Women’s Day Conference on Tuesday.
Help celebrate special day for women International Women’s Day is celebrated around the world on Sunday (March 8). It is a day when women are recognised for their achievements and it is an opportunity to look back on past accomplishments as well as look ahead to potential future opportunities. There are currently more women in boardrooms, there is greater equality in legislative rights and an increased visibility of impressive female role models. And every year, thousands of events are held to inspire women and celebrate achievements on International Women’s Day. Businesswomen in Surrey would like to invite you to attend their annual International Women’s Day Conference on Tuesday (March 10) at the WWF Living Planet
Centre in Woking, to hear from an inspirational panel of speakers who will talk about their roles as senior female leaders and the work being undertaken globally to support and encourage entrepreneurism among women. The panel of guest speakers include Jenny Tomley, managing director of Redaway Blackmore and the former managing director of John Lewis Kingston, who will be speaking about working for a multinational corporation and why she made the decision to start her own business; Rosemary French, executive director of the Gatwick Diamond Initiative who recently received an OBE for services to women in business; and Darshana Ubl, chief executive of Entrevo UK, who has run several successful
businesses and is an ambassador of small business. There will also be exhibition stands, personal defence demonstrations from chamber member Shield Associates, the opportunity to network with other women as well as exploring the interactive WWF Living Planet Centre. New for this year, Surrey Chambers’ Business Women in Surrey launched a 2015 Top 50 list to highlight the impressive and varied talent prevalent among business women across the county. Over the past few weeks the Surrey business community has been voting for their top 10 businesswomen, who will be announced on the day. To book your place, visit the Surrey Chambers website at www.surrey-chambers.co. uk or @BusinessWomenSy.
Be part of the network - find out how Surrey Chambers of Commerce membership can help your business at www.surrey-chambers.co.uk
March 2015
Investment watch
7
Keeping an eye on the markets
Record high as miners dig deep By Philip Scott
Director at SI Capital
Philip Scott of SI Capital. This report was written by Philip Scott, director at SI Capital on 3/3/15 when the FTSE 100 was trading at 6960.
History has recently been made as traders have driven the FTSE 100 index to record highs. An investor in a FTSE 100 tracker fund back in the year 2000 has finally got his capital back; this is why I favour the active (stock picking) route as opposed to the (index tracking) passive. It enables one to be invested in stocks and sectors that are favoured (ignoring those believed to be less attractive) and to hold cash from time to time as one awaits conviction opportunities. Cue the commentator that says investing is all about ‘time in the market and not timing the market’. Possibly. A stellar rebound from the heavily weighted mining sector (30% of the index) has been the principle driver of the market over the past couple of months. This to me has been a real education in the psychology of the market in action as metal prices have not recovered, nor really have the prime markets that the miners sell to. What has changed, simplistically, is that investors have decided to wise up to the low valuations and secure dividend yields on offer,
highlighted from recent results. Lower costs and very selective capital expenditure programmes for the miners have brought about solid free cash flows and increased dividend pay outs. Here I talk about BHP Billiton and Rio Tinto, but the general picture applies to the sector at large. And I would argue that it is this common desire for ‘yield’ that has propelled the level of the index. Equities continue to represent the optimal home for savings versus other asset classes in a low interest rate world. The recent move up in the price of GlaxoSmithkline has also had much to do with the 5% dividend yield on the stock. Are shares, though, now getting expensive? In terms of the market capitalisations of companies, the Price to Earnings ratio of the UK FTSE 100 is now near 17, paying an income yield of 3.3%. While not excessive, it is not cheap either. This could be contrasted with the US, where the S&P 500 ratio is about 25; Europe is cheaper (and thus favoured by some) but there are well documented reasons for this. Assuming corporates can continue to deliver solid profit growth, shares still
have upside appeal. Not all companies will, however, perform as expected and it is about trying to be invested in those that will and whose shares are priced low enough. What is somewhat concerning, however, is international Central Banks do not seem overly convinced, at least at a macro-economic level. With the exception of the US Fed, all are ‘easing’ policy: lowering rates and/or increasing stimulus measures. But just because shares look high, it does not mean they cannot go higher. Overbought markets can become more overbought, but this could mean the dip, when it comes, will be more pronounced. Risks in the Market The market has steadily crept higher over the past month. Ongoing risks include Eurozone deflation and the potential contagion associated with a Greek exit. Market bulls, however, point to the onset of large scale QE in Europe, which is designed to stimulate growth and keep interest rates low. The deepening disillusionment with Russia also brings risk and uncertainty, as does a slowing China and the risks potentially associated with a US interest rate rise in the summer.
I am assuming the Bank of England will not be raising rates any time soon. As a discounting mechanism, the market of course is aware of all of these factors and, currently, it is comfortable to be trading where it is. But similar to the change in sentiment towards the mining sector in the recent past, sentiment can be fickle and the mood can change quickly. I am holding reasonable cash balance for most clients to hedge against the possibility of a market fall at some point. Let us not forget that a General Election also looms, which will bring further natural uncertainty; another factor that investors will need to assess in the near future. ISA deadline approaches The 2014/15 tax year ends on April 5, and with it the entitlement to subscribe £15,000 into a tax free environment. As of April 6, a new allowance of £15,240 becomes available. If your marginal rate of income tax is 40% or more, and one can afford to save money, this tax wrapper is worth embracing as over the years significant sums can be sheltered from the tax man. The universe of available
stocks that can be housed in the ISA is wide ranging, from direct blue chip equity shares to collective investments (managed funds) and fixed interest stocks (bonds). A self select ISA provides complete flexibility in terms of when funds can be invested (when the timing looks right) and also with respect to how the funds themselves are allocated across asset classes and/or which companies. The important point is to ensure that funds are credited to ISAs in time; the actual investment of the funds can happen subsequently. In closing, investors should not forget that AIM-listed companies (AIM is a less tightly regulated sub-market of the LSE, often for smaller companies) can now also be bought in ISAs. Importantly, there is now no stamp duty payable (0.5%) on purchasing such shares, and also no IHT to be paid on their value at the time of death. Thus investments into qualifying AIM companies in ISAs during life can grow tax free and be IHT free on death. There are many profitmaking and dividend-paying well managed smaller companies on the AIM that I already own for clients within ISAs.
Partnership’s stamp of approval sets gold standard for traders By Jennifer Morris
jennifer.morris@trinitymirror.com SURREY Trading Standards has partnered up with trade vetting website Checkatrade. com as part of its mission to stamp out rogue traders. The website acts in the form of a search engine where users can search by the trade they are looking for, and by using their postcode then find a list of vetted, recommended and monitored local businesses. There are, so far, more than 17,000 organisations listed. The new partnership is intended to support legitimate businesses and protect consumers across the county, by creating a double-stamped ‘gold standard of approval’. To become a member of Checkatrade.com there are up to 20 different checks and assessments made, and earning Trading Standards-
approved status is a similarly thorough procedure. Under the new partnership, traders are entitled to a range of additional benefits including a free full vehicle sign writing service, marketing support materials and a customer service advisor. To spread word of the scheme, Checkatrade.com and Surrey County Council are hosting a series of open days, inviting the county’s tradesmen and women to find out more about the partnership. The official launch took place on Monday at Leatherhead Golf Club, in Kingston Road. Helyn Clack, cabinet minister for Community Services at the county council, and community protection manager Steve Ruddy attended, as well as Checkatrade.com ambassadors Craig Phillips and Linda Barker – both DIY experts and television
personalities. Mrs Clack said: “We are delighted to be launching this new recommended trader scheme, which combines the Surrey Trading Standards stamp of approval with the valued Checkatrade standard. “As well as supporting legitimate businesses, this partnership will give Surrey consumers even greater protection and especially help elderly and vulnerable residents who may be particular targets for unscrupulous traders.” Kevin Byrne, the founder and chief executive of Checkatrade.com, said: “We are wholly committed to combating the rogue trader crisis. “By partnering with Surrey’s Trading Standards, we are able to offer the county a greater level of protection against cowboy builders. “We are encouraging
reputable trades from across the county to apply for Trading Standards approval and become members of Checkatrade.com too, so the local community can choose a trader with confidence.” As well as new businesses, existing Surrey Buy with Confidence and Checkatrade. com members are welcome to join the scheme, which came into effect at the beginning of February. Mr Phillips added: “I have worked as a builder for many years and know how important it is to find a trader you can rely on. “I’m thrilled to be an ambassador for Checkatrade. com at such an exciting time. “This new partnership with Surrey Trading Standards highlights the fantastic work they do. “Traders, as well as consumers, will really see the benefits.”
Builder and television personality Craig Phillips talks passionately about his support for the Surrey Trading Standards/ Checkatrade.com partnership, that will be beneficial to both consumers and traders. Picture: Alistair Wilson.
8
March 2014
By George! Challengers and G Live see networking in action By Jennifer Morris
jennifer.morris@trinitymirror.com HARLEQUINS rugby union player George Robson was guest of honour at a net- working event hosted for businesses last month. The evening was jointly hosted by the Challengers charity, based in Stoke Park, Guildford, and the G Live entertainment venue on Monday February 23. Challengers provides play and leisure opportunities for disabled children and young people across Surrey and Hampshire. It is in the process of growing the Challengers Business Club, which was created to help like-minded businesses meet and network through a series of events while also supporting the charity financially. As Challengers is G Live’s local charity partner for 2015, the gathering marked the first networking event of the year, intended as an opportunity for both organisations to meet and network with other local businesses. The evening began with introductions by Fran Everist, marketing and corporate development manager at the events venue, and Laura Sercombe, chief executive of Challengers, who spoke about the importance of the work the charity does in the community, and shared the statistic that 86% of disabled children have no access to play or leisure facilities.
Guest speaker George Robson, of Harlequins RFC, enthralled members at the Challengers Business Club event at G Live, in Guildford, last month.
Mr Robson, meanwhile, shared anecdotes about his career so far at the rugby club, which trains at the Surrey Sports Park in Guildford. It was announced last month that the lock will be leaving the club at the end of the season after almost 200 games. He spoke about his reasons for the move, his anxieties about leaving and he shared stories – both good and bad – about what he can expect from his new team in France. He then opened the floor to questions from the audience, where he remained tight-lipped about England’s chances in the current Six Nations Championship. Mrs Sercombe said: “What a fantastic first event for the
business club. George Robson was an outstanding speaker and we are so privileged that he joined us. “The icing on the cake for our team was being able to hold the event in such a superb venue. We cannot thank G Live enough for supporting Challengers this year.” Ms Everist said: “This was a great way to kick-off our partnership with Challengers, and is the first of a number of joint initiatives which we are hoping will help support this inspiring charity.” A host of other speakers have been lined up by Challengers for the coming year, including Jeremy Hunt MP on June 19 and Susan Harmsworth, founder of spa and skincare business
George Robson (Harlequins), Fran Everist (G Live) Laura Sercombe (Challengers) and the Mayor of Guildford Cllr David Elms.
ESPA, on October 15, who will talk about building a successful worldwide brand. The club is just one of the ways in which Challengers reaches its fundraising targets, but each membership enables one child a month to access a scheme for an entire day. Benefits to members include exclusive quarterly seminars by business leaders, offering insight into areas such as business negotiation, public affairs and branding, and an expected increase in brand awareness and brand power through regular positive PR and use of the Challengers Social Responsibility logo. Only businesses that fulfil the Challengers ethical giving policy are admitted.
Amanda Matthews (Challengers), the Mayor of Guildford Cllr David Elms and Fran Everist (G Live).
Graham Smith (The Whiteley Clinic) and Vicki Smith (Absolute Aesthetics).
Sharing a drink with Jessica Oliver, of Challengers.
Guest George Robson speaks with delegates, including Amanda Matthews and Laura Sercombe.
Mel Wilcox and Dan May (ramsac) and Robert Watkin (Bessler Hendrie).
Jack Brown and Jessica Oliver (Challengers) and Paul Ginever (Plan A Architects).
Challengers Business Club members enjoy the chance for an informal chat.
Jack Brown (Challengers), Gurpreet Gill (Metro Bank) and Anthony Gorman (Challengers).
A chance to sample the hors d’oeuvres. Pictures: Gareth Davies.