MAY 2015 Price ÂŁ2.30 (â‚Ź3.75)
The unmistakable EY
How the business services firm stands out from the crowd
Finance: Has the flow of credit picked up pace?
Export: The checklist you need to succeed
ISSN 1363-2507
9 771363 250005
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Contents 6 News
24 Business Finance
74 Business Breakfast
Bank results, new Spar suppliers and house prices
Are the banks lending more and, if so, how do you apply?
David Elliott breaks bread with Michael Murphy from Irwin’s
14 Cover Story
36 Commercial Property
76 Motoring
How EY is standing out from the crowd
John Simpson takes a look at Northern Ireland’s developers
Driver’s driver Pat Burns checks out the latest motoring offerings
18 Viscount Awards
54 Export Focus
82 Appointments
A roundup of the Aer Lingus Awards in Westminster
Thanking of exporting? Make sure you read our checklist
Who’s moving where, and why? They’re all here
22 Fledgling Freelancer
64 Corporate Restructuring
92 Technology
Julie Stewart takes a bit of part-time work, for the company
Who’s been doing the deals in 2015, according to Experian
Adam Maguire with all the latest high-tech developments, tested for you
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14 18
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EDITOR’S COMMENT
Award time
W
elcome to the May edition of Ulster Business. This month we’re taking a close look at the fast expanding EY business in Belfast, gathering some of the best brains in Northern Ireland business together around a table at PwC’s headquarters, and delving into the world of export, restructuring and finance in our in-depth features. We got to see a fraction of the dynamism of the Northern Ireland business community last month at the Aer Lingus Viscount Awards which were held in association with Ulster Business. Aer Lingus flew the finalists to London and we held the awards lunch in the not-too-shabby surroundings of the Members Dining Room at the Houses of Parliament in Westminster.
Northern Ireland’s politicians have been up to their usual pre-election preening of late – no surprises there – but some of them have done themselves no favours in revealing their antiquated views on the likes of same-sex marriage. Whatever you feel about the subject, there’s no doubt a lack of acceptance by our elected representatives over something which isn’t given a second thought in most forward-thinking parts of the world doesn’t exactly help the quest to win overseas investment for Northern Ireland.
There is no doubt that the sight of a gaggle of Northern Ireland’s business brains gathered together in London was an odd experience at first but, as we settled in to Westminster’s hospitality, it became apparent that there is no better place to celebrate the sterling efforts of such an innovative and outward looking bunch.
For the sake of the economy – and quite frankly for the rest of us who can’t quite believe how backward this small corner of the world can be – it’s time to take the blinkers off and start concentrating on growing the economy.
Publisher Greer Publications 5b Edgewater Business Park Belfast Harbour Estate, Belfast BT3 9JQ www.ulsterbusiness.com Tel: 028 9078 3200
Editor David Elliott
Art Editor Stuart Gray
Manager Sonia Armstrong
Production Manager Stuart Gray
Printer W&G Baird Greystone Press, Caulside Drive, Antrim BT41 2RS www.wgbaird.com
Deputy Manager Sylvie Brando
Cover Photography PressEye
Greer Publications © 2015. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form, or by any means, electronic, mechanical, photocopying, recording, or otherwise without the prior permission of Greer Publications.
MAY 2015
The winners were all well-deserved – from construction to medical to food companies – and it will come as no surprise to learn that the finalists were all hugely impressive for yet another year. And how apt that, just prior to the general election, we were getting to know the inside of Westminster.
David Elliott
Free to download. Free to read. ulsterbusiness/app 5
NEWS
A Month in Numbers £1.3m The estimated economic benefit to Belfast of the Routes Europe conference which is arriving in the city in 2017. An average of six new air routes have been started by airlines to cities which have previously hosted the conference.
Banks boosted by fall in impairments “Overall lending increased in quarter one, a reflection of our continuing support for customers and an encouraging sign for Northern Ireland’s economic growth. This increase in demand for lending stems largely from our business customers. “While still at relatively subdued levels, demand for business finance picked up in the first quarter on the back of continued
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acquisition of new customers from competitors and an increased appetite for lending from existing customers seeking to grow their businesses.
The rental price, per square foot, which is said to be needed to persuade developers to build new grade A office space in Belfast.
Gerry Mallon, Danske Bank
£14.50 A rough guide to the rental price, per square foot, of grade A office space in Belfast currently, we’re told.
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wo of Northern Ireland’s banks have reported a profitable start to the year, both helped by a continued cut to impairment charges.
Meanwhile, Ulster Bank said its lending has also picked up pace. “We saw a 55% increase in mortgage drawdowns compared to Q1 2014 and Ulster Bank customers in Northern Ireland are enjoying some of our lowest ever mortgage rates,” Chief Executive Jim Brown said. “Ulster Bank has increased lending to SME and Corporate customers by 31% this quarter and has £1.5bn (€1.9bn) available for business customers in 2015.”
6% The unemployment rate in Northern Ireland in the three months to February, down from 7.7% at the same time last year.
26.8% The percentage of people of working age not actively looking for work, or economically inactive, in the three months to February. That’s down a considerable 12,000 people over the quarter but remains the highest of all UK regions.
Ulster Bank said it registered operating profit of £51m for its all-island operations in the first quarter of the year, a jump from £9m on last year, while Danske Bank made £31.5m pre-tax profit for its Northern Ireland business, up from £13.6m last year. The steady drop in impairment charges – money set aside to protect against bad debt, mostly against property – has helped improve the picture for both banks with Ulster Bank subject to no net impairment charge for the period and Danske making a net recovery of impairment charges of £11m. A recovering property market in Northern Ireland can be attributed to much of the diminished impairments but Danske said improved revenue performance and ongoing cost control have also played a big part. The Danish-owned bank has also been lending more, particularly to businesses, according to UK CEO Gerry Mallon.
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At the time of writing, results for the other main banks in Northern Ireland for the first quarter of the year were yet to be released. Jim Brown, Ulster Bank
NEWS
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elective Travel Management has completed a major expansion programme at its corporate headquarters based in one of Belfast’s most iconic buildings, Murray’s Exchange. Under the leadership of Managing Director Mukesh Sharma, the company has, within a twoyear span, doubled its staff numbers from 40 to 80 and invested more than £350,000 in software, hardware, training, infrastructure and IT last year. Mukesh Sharma Managing Director of Selective Travel Management is pictured with the Lord Lieutenant for Belfast Mrs Fionnuala JayO’Boyle CBE who formally opened the new £350,000 state-of-the-art facilities.
CHARTERED DIRECTOR PROGRAMME The Institute of Directors (IoD) sets the standards for leadership in the UK and Ireland. Our highly acclaimed Chartered Director Programme is designed to ensure that the directors of today and tomorrow from all sectors can contribute effectively to major organisation-wide decisions. With a current all-Ireland annual demand for around 120 places, we are clearly the leader in our market segment – and all six current cohorts were oversubscribed. We offer 12 half days of face-to-face tuition over nine months including five two-day residentials on the themes of “Role of the Director and the Board”, “Strategy and Marketing”, “Finance”, “Leadership and Change” and “Developing Board Performance”. Our programme leads to the IoD Certificate and Diploma – afterwards we help many go on to become Chartered Directors – the “gold standard” for professional directors in the UK and Ireland and increasingly adopted worldwide.
We draw upon the IoD’s unrivalled resources – approved facilitators who work internationally and understand the implementation issues rather than simply the theory, comprehensive programme materials and highly accessible on-line support. The modules are delivered in an engaging, enjoyable style. Aimed at busy people there are no tedious assignments or dissertations. There are however two exams for which our delegates are well-prepared – in the March 2015 Certificate exam our Belfast and Dublin candidates had a combined pass-rate of 91% and took a total of 38 Distinctions – out of only 62 awarded worldwide (a Distinction is 75% + marks). The next Northern Ireland programme starts on 15/16 September 2015 and finishes in June 2016. If the local dates for a particular session do not suit we have alternatives in Dublin. Some financial support towards fees may be available.
For details call Peter Martin on 028 9064 1131 or email: directordevireland@gmail.com PS: It’s fun too!
MAY 2015
7
NEWS
Henderson Wholesale launches new fresh product lines
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PAR has tied up contracts worth £25m with a range of Northern Ireland fresh food suppliers.The retailer and its sister company EUROSPAR, which is owned by Henderson Wholesale, will buy 126 fresh and chilled products including dairy, baked goods, fruit, vegetables, meat and convenience foods from 22 suppliers. They include Dungannon firm Dunbia, which sources beef from Northern Ireland farms, Rockvale Poultry, based in Richhill, and pork processor Fred C Robinson in Ballyclare, while Clandeboye Estate Yogurt and Genesis Bakery are among six companies supplying to Henderson Wholesale’s own brand for the first time, representing contracts worth a combined £3.5m. The products will go into the company’s 400 stores across Northern Ireland. Paddy Doody, Sales and Marketing Director at Henderson Wholesale, said local sourcing is a key focus for the Henderson Group. “Henderson Wholesale has invested a significant amount to date in the launch of the new own brand enjoy local range, and in 2015 we will invest £3.7m in the implementation of our marketing strategy.
Paddy Doody, Sales & Marketing Director and Neal Kelly, Fresh Foods Director at the Henderson Group are joined by Paula McIntyre at the launch of SPAR’s new range.
“This underlines everything we are about – a local business working with local suppliers to provide for our local stores and shoppers. Consumers will see a real change in our own brand products and we’re delighted to work with some of Northern Ireland’s finest local farmers and producers during this exciting time.”
Plumbridge waste company creates 16 jobs It makes waste separation machines from its Plumbridge base and sells, with the help of distribution deals, to customers across the UK, US, France and Belgium. Managing director Nishi Ward said the success has been helped by an extensive research and development programme which has produced a number of new products. “On the back of this, significant distribution deals have been won and a healthy sales pipeline developed,” he said. “The loan received will now be used to convert these orders to end products. As the company grows so will the number of employees – in the next three years we will have in excess of 30 staff.” Nishi Ward, Managing Director at Waste Systems with Mark Canning, Senior Investment Manager of WhiteRock Capital Partners.
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County Tyrone company is creating 16 new jobs over the next three years to help it meet growing demand from around the world.
Waste Systems has received backing of £500,000 from Invest NI’s Growth Loan Fund and will use the money to turn a pipeline of orders into product.
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And a sea change in recycling habits has also helped. “The significant global changes in attitude to reducing landfill in recent years along with the introduction of legislation has contributed to our success to date and positions the company as a key player in the drive to create a better environment.” Mark Canning, Senior Investment Manager, WhiteRock Capital Partners, which administers the fund, said: “Waste Systems is a good example of local company with global reach.”
NEWS
House prices up 14% but still far behind rest of the UK
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he recovery in the housing market in Northern Ireland has been rubber stamped by latest government figures which reveal a sharp hike in prices here in the last year.
The Office for National Statistics (ONS) pegged the average price of a house at £152,000 at the end of February, a 14.2% jump on the previous year and is the largest rise in Northern Ireland since November 2007. It’s also the biggest jump in percentage terms of all UK regions over the period but prices here pale against other regions. The UK average stands at £268,000, according to the ONS, while for England it reaches £280,000, in Scotland £194,000 and £170,000 in Wales. Only the North East of England, with an average house price of £153,000, comes close to Northern Ireland.
Nevertheless, the recovery will be welcomed by property owners here, particularly those still coping with negative equity following the credit crunch and subsequent downturn since 2008. Still, there’s a long way to go to lift everyone out of negative equity, particularly because Northern Ireland house prices are still 43% below their pre-downturn peak. That compares to the UK as a whole where prices are 11% above that peak.
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Employer of Choice sponsored by Arthur Cox
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21/04/2015 15:12:29
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NEWS
Quotes of the month
NI companies scoop Queen’s Award
“Hosting Routes Europe in Belfast in 2017 provides us with a rare opportunity to bring influential decision makers into the region and showcase Northern Ireland’s tourism and business potential.” Enterprise Minister Arlene Foster reckons we’ll need to be on our best behaviour in two years’ time.
“Routes 2017 will direct the commercial aviation spotlight on Belfast and we will ensure we play our part in making the region shine.” Katy Best, Commercial and Marketing Director at George Best Belfast City Airport, on the Routes 2017 conference.
“Apprenticeships offer a unique opportunity to transform the skills landscape in Northern Ireland and facilitate economic and social progress.” Employment and Learning Minister Dr Stephen Farry, speaking at an event organised by the Northern Ireland Assembly and Business Trust at Stormont.
“Do you have permission to film here?” A security guard in the Houses of Parliament’s Westminster Hall as Ulster Business was finishing off a series of filmed interviews with Viscount Award winners.
Mark McQuillan and Helen Boyd from Nicobrand are pictured as the Coleraine company is honoured with a Queen’s Award for Enterprise for International Trade.
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orthern Ireland has been well represented in this year’s Queen’s Award for Excellence with two companies honoured for their exporting prowess. Nicobrand from Coleraine was rewarded for growing its overseas sales by 785% over three years while Vita Liberata for selling its products into 25 countries globally. The awards, some of the most prestigious in the UK, are given only to companies which have demonstrated their business has achieved substantial growth in overseas earnings and in commercial success. A total of 141 winners were announced this week from across the UK, 105 for international trade, 24 for innovation and 12 for sustainable development. It’s the second time Coleraine-based Nicobrand, which manufacture pharmaceutical grade nicotine for use in smoking cessation products, has won the award, having previously picked it up in 2004. Its stellar export growth sees it now sell £1.6m a year of product overseas to countries as far afield as Poland, Italy, Korea and the USA.
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Managing Director of Nicobrand, Mark McQuillan, who has been with the 30-year old company since 2001, said he was honoured that the company has been rewarded again. “Over the past number of years we have worked extremely hard to grow our business to meet demand from the electronic cigarette industry and through this we have achieved substantial export sales,” he said. “The award is testament to the hard work of all of our team. We are a global leader in the nicotine business and are very proud of that fact that we manufacture these high quality nicotine products at our facility here in Coleraine.” The company currently employs 25 highly skilled individuals, two thirds of which are graduates, and is proactive in encouraging local students to pursue studies within Science, Technology, Engineering and Math (STEM) subjects through engagement with local schools and colleges. The other winner, fake tan company Vita Liberata, has also won the award before but nevertheless, founder and chief executive Alyson Hogg said it was a privilege to be honoured.
Global law firm creates 97 new jobs
Construction sites failing H&S inspections By Andrew Tollerton, Health & Safety Consultant, Willis Insurance and Risk Management
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he HSE NI is urging the entire construction industry to enforce basic health and safety precautions at their workplaces, after a month-long site inspection initiative ending in October 2014 found 40% of construction employers fail to properly protect their workers. According to the HSE NI, many of the issues found by inspectors could have easily been prevented or fixed if the employers would have prioritised employee health and safety. The most common infraction was lax safety measures for employees working at height – 42% of all enforcement notices served in the one-month period were for failing to provide basic working at height precautions.
Enterprise, Trade and Investment Minister Arlene Foster is pictured with Kate Docherty and John Mallon from Axiom.
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global legal services firm has announced plans to expand its Belfast office with the creation of 97 new jobs over the next five years.
Axiom, which currently employs just over 100 people here, will be hiring lawyers, process engineers and technology experts on average salaries of £40,000. It provides “technology-enabled” legal services to its FTSE 100 and Fortune 500 clients around the world from its Belfast base, an office it first opened in 2012. Kate Docherty, Vice President of Client Delivery at Axiom, said it wants to transform the legal marketplace. “That expansion has been fuelled by the growth of our Managed Services business, including our recently announced $73m partnership with one of the world’s largest banks to create an industry-leading approach to managing risk in derivatives and core contracting agreements. “Not only does this innovative approach contribute to better risk mitigation and a more efficient legal process for our multi-national clients, but it provides our now growing number of employees in the region unprecedented access to a unique training curriculum designed to make them engaged partners with our clients. The investment has been supported by Invest NI with an offer of £727,500.
MAY 2015
The second and third most-frequently seen issues were a failure to control dust and insufficient welfare, each accounting for 12 per cent of all enforcement notices. HSE NI inspectors stress that the majority of construction employers are succeeding at health and safety, while a significant portion of the industry must improve. Almost half of the repair and refurbishment sites visited by HSE NI inspectors exhibited unacceptable conditions and dangerous practices – twenty per cent of the sites exhibited such an abysmal lack of health and safety policies that the HSE initiated formal enforcement action including fines and possible prosecutions. Willis Consulting is currently advising a number of clients to put the correct procedures in place and continually looking for ways to improve safety standards. An example of not putting procedures into place, was highlighted when an employee was subject to a loss of limb due to operator negligence. An investigation proved that no prior training in the use of tools had been given and no evidence found of safety documentation on-site. We work with clients to pre-empt accidents via effective health and safety training courses. We also help clients by carrying out an inspection of the workplace with the employer to advise where improvements need to be made.
For further information contact Andrew Tollerton at Willis Insurance and Risk Management to make sure that you are covered properly on 028 9032 9042 or email: andrewt@willisconsulting.co.uk.
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ANALYSIS
What contribution does advertising make to the economy in NI? Robert Lyle, Media Director at LyleBailie International, looks at the importance of the local advertising world.
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Foreign direct investment is not bringing any significant additional spend into our local media sector so far.
Not an unimpressive figure and one which helps to keep a lot of people in employment and up from the £141m figure in 2012.
The TV production sector has been very successful in campaigning for 3% share of network commissions for Northern Ireland (principally with the BBC). Our industry must start to campaign for a similar 3% allocation from major UK companies to be spent in Northern Ireland and if the campaign is planned on an all-Ireland basis the allocation should be 28% for Northern Ireland. The evidence shows that local agencies (and media) will make this budget work harder in the local market, using more local media channels, better.
t LyleBailie International, we have updated the analysis previously conducted with 2014 advertising revenue expenditure to see how much money is spent on advertising media in this market. We estimate that the Northern Ireland advertising media market was worth £155.7m in 2014.
However, as before, Northern Ireland punches well below its weight in terms of media spend per capita. UK expenditure is around £232 per person, and the Republic of Ireland £120. In Northern Ireland the spend stands at £86. Indeed, on a prorata basis the Northern Ireland market should be worth £402m in spend. No other issue is more important to the future of the industry in Northern Ireland. Were we to increase our share of spend by just 0.2%, this would bring an additional £30m into the Northern Ireland economy helping to employ more journalists, media sales and marketing people and help our transport and outdoor infrastructure too. How can citizens be sure of a robust, independent media sector to keep government accountable without a fair distribution of revenue throughout the UK and Ireland? We can’t depend on Facebook and Twitter to do that. When we look at the allocation of media spend we can see structural issues come into play. Comparing share of spend in 2000 to 2014 we can see that press has declined from around 47% share to 33%. TV is also at
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Robert Lyle
33% with outdoor 10%, radio 9% and cinema at 1%. Digital is growing fastest with an estimated 14% share – significantly below the 50% + it takes in the UK and 30% + in the Republic of Ireland. It has now taken a significant part of the classified spend from press and continues to grow we estimate by around 9 -10% year on year. Why there is such an under investment in our advertising industry? Part of the reason may be that some of the media planning systems for Northern Ireland are different – for example outdoor and press. Many campaigns planned in Great Britain and Dublin leave Northern Ireland off the schedule or limit the amount apportioned here. Certainly the local industry is too dependent on Northern Ireland government advertising spend – and so when the Executive looks for savings then advertising is often the first to suffer, despite the evidential role it has had in saving lives and delivering value for money to the taxpayer. A large number of client decisions are now made outside Northern Ireland for certain sectors such as banking, travel and FMCG brands. If governmental decision making has devolved, why has budget setting by major organisations based here moved in the reverse direction?
At a population of two million, the local market is small and it would be great to see more of our local companies developing brands here and outside Northern Ireland – the local media and agency sector certainly has the expertise to help them build brands rather than just trade in commodity products with large GB multiples or other global organisations. Building brands is the way to grow the Northern Ireland economy. It requires investment. And since advertising prices in Northern Ireland are lower than in Great Britain and the Republic it makes our market a great place to invest in new brands and test-market new products before moving to export. Overall, the Northern Ireland media, advertising and marketing sector has to up its game. An industry-wide initiative to address these problems is crucial, or else there will be very little left of the Northern Ireland media industry in a decade, with drastic consequences for jobs, the economy and democracy.
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Michael Hall, EY Managing Partner for Northern Ireland.
COVER STORY
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COVER STORY
The EY MO EY’s Managing Partner for Northern Ireland tells Ulster Business how the company’s culture makes it one of a kind.
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n assignment to interview one of the ’big four’ professional services firms wouldn’t normally inspire a burst of enthusiasm.
firm to explore and establish where they are headed from a career point of view and know they will have the support in place to help them get there.
This one, however, might just be a little different.
The firm invests heavily in career development, coaching and counselling and makes sure each employee regularly sits down with a mentor to discuss how the firm can help their development. “It’s about giving our people the tools to work at their best. We’ve put the infrastructure in place to make sure our employees are supported at all levels and acknowledged for the contribution they make to the business. It all goes hand in hand – the more engaged our people are, the higher the bar of performance rises, which ultimately leads to enhanced client service. It all fits together to create a really virtuous cycle of organisational growth.”
It starts when EY’s Managing Partner for Northern Ireland, Michael Hall, sits down in the company’s Bedford Street boardroom in Belfast and explains that he wants to be challenged during our interview. This, to say the least, is unexpected and immediately piques this reporter’s interest. It’s a different approach and exactly what Michael believes EY is all about.
THE EY WAY “Our culture is very distinct,” he said. “People are at the centre of what we do and everyone has a voice. Irrespective of your level you’ll be actively encouraged to contribute and your views will be taken on board.”
All these factors are aligned to meet a very specific aim.
hurdled if the best candidates are to be both retained and attracted.
ACCELERATING GROWTH EY is growing at a rapid pace and, as part of this, the firm is aggressively looking to recruit top talent. They have 680 posts to fill by 2018, 150 of which will be fulfilled by the end of this year. “So far we’ve been very impressed with the calibre of people we’ve attracted to the firm and we remain determined to create jobs and invest in talent which is vital to the sustained success of our business and a direct contribution to Northern Ireland’s economic growth. While we continue to attract local talent we are also reaching out to those who may have emigrated to ‘come home’ and build a future with EY.” An open, honest and people-oriented culture within EY is all very well but what about the client base?
“Yes. It’s in our DNA. Openness and not having the fear to approach a partner or any member of our organisation to have a conversation is a fundamental part of our culture.”
“We are always striving to ensure EY is an extraordinary place to create a future. The skills you acquire through working with our client base and the personal network you build up over your time with EY not only lasts for your career with EY but for the rest of your professional life. We want our people to be able to look back on their time here as a fantastic period in their careers.”
“Our internal culture translates into our client relationships. We’re consistently told we’re very relationship focused and our ability to work effectively within teams is at the heart of many of our most successful business relationships.”
That openness provides a great basis for employees at the global business services
That’s quite a high bar but, in a competitive hiring market, it’s one which needs to be
“Even though we’re a large firm, we approach each client with an integrated
It’s all very well saying that but can he really, as the boss, be that open?
MAY 2015
And the teamwork approach is also evident in the client facing environment.
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Michael Hall, along with EY colleagues, Niamh Hughes, Rory O’Callaghan and Claire Gormley.
offering. Whatever industry you’re in and whatever geography you are working in, we can draw on expertise from across the firm at both an international and local level.” “We try to help our clients understand new markets, broaden their networks by sharing our connections and link them in with our people on the ground.” But it’s the old mantra of over delivering which is central to EY’s offering. “We all drive to consistently deliver exceptional client services, which means consistently outperforming client expectations.” It’s all very well saying that but how can it be proven? “Take a look at the evidence,” said Michael. “We’ve maintained 20% growth per annum over the past two years and have the largest share of Northern Ireland headquartered companies in the Top 100.” Many of those names are owner-managed entrepreneurial companies and it’s easy to see why EY’s Entrepreneur Of The Year programme has proved so popular. As the first and only truly global award of its kind, EY Ireland evolved Entrepreneur Of The Year into an exclusive development programme for Ireland’s most impressive entrepreneurs. Through their annual international CEO Retreat, peer-to-
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peer mentoring and community impact initiatives, the Ireland programme has established a network of over 380+ leading entrepreneurs who, together, employ over 152,250 individuals and generate revenues of €16.6bn. Northern Ireland has had more than its fair share of success in the past with both Brian Conlon of First Derivatives and Peter Fitzgerald of Randox representing Ireland at the World Entrepreneur Of The Year finals in Monte Carlo. Last year’s finalists included local heavyweights Kestrel Foods, Haldane Shiells, Hutchinson Engineering, Elmgrove and Wilsons Auctions. “We want to make a contribution to Northern Ireland society by promoting role models within the entrepreneurial landscape. The more we can do to support innovative, fast growing business the better for the economy.”
REBALANCING NORTHERN IRELAND As a provider of services to many of the top companies here, Michael is well placed to take the temperature of the local economy. He said companies are stronger than five years ago during the downturn and have become much more lean and internationally focused, a process which EY has been helping facilitate. “Confidence is still there despite the low economic growth and last year
saw record levels of new investment projects into Northern Ireland. There is an acknowledgement within the business community that there is a need to continue to deliver growth; and investment in technology, innovation and new markets are opportunities that are now actively being pursued.” It’s also working with inward investors to Northern Ireland, more of which are expected once corporation tax is eventually devolved to Stormont in April 2017. “The things that stand out for inward investors are the quality of the people here in Northern Ireland, the infrastructure we have in place and the high standard and flexibility of the education system. Corporation tax is an extra enabler to attract foreign direct investment but we need to make sure we have all those other parts of the puzzle in place.” In essence, EY is well aligned to make sure it is encouraging and facilitating more inward investment and wants to grow its business by hiring talented people and by teaming up with progressive companies through a culture which stands out from the crowd. Really? “Really. When you get in behind the words, we are delivering” Michael said. “We are creating something special and I feel very confident about the future for our people, clients and EY as a firm.”
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Viscount Award winners woo Westminster
Laura Murray and Jenny McIlroy from TG Eakin with Lord Empey and Andrea Hunter, from Aer Lingus.
F
ive of Northern Ireland’s most ambitious companies and one individual have been honoured for their achievements at the seventh annual Aer Lingus Viscount Awards, in association with Ulster Business. The awards lunch took place on Tuesday 21st April in the Members’ Dining Room at the House of Commons, Westminster and was attended by some of Northern Ireland’s most impressive and tenacious companies, representing a variety of industries and sectors. The Viscount Awards, which have grown over the years to become one of the most respected events on the business calendar, continue to reward those organisations that represent the absolute best in their respective fields. This years awards entries were appraised by a seven strong panel of judges comprising Andrea Hunter, Aer Lingus Business Development Manager in Northern Ireland; David Elliott, Editor of Ulster Business; Jeremy Fitch, Executive Director, Business Solutions Group at Invest NI; Colin Walsh, Chairman of CBI in Northern Ireland; Richard Sherriff, Business Editor of the News Letter; Gary McDonald, Business Editor of the Irish News and Alan Taylor, Managing Partner at Arthur Cox. The categories were; Most Innovative Company; Exporter of the Year, Best Small,
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Lord Empey addressing guests in the House of Commons Members’ Dining Room.
Medium and Large Business, Business Person of the Year; and finally The Aer Lingus Viscount Award for Overall Excellence.
producer partners. The company broke all records for a producer at the Great Taste Awards in 2014, winning seven 3 Stars.
Most Innovative Company of the Year was awarded to Devenish Nutrition who are market leaders in developing and offering nutritional solutions to challenges faced by livestock producers. Amongst other recent triumphs, 2014 saw Devenish Nutrition create DeviGainPG, a unique concentrated protein that supplies amino acids in a targeted form that pigs can utilise more effectively.
AJ Power won the Best Medium Business category. The company’s highlights in 2014 include the supply and installation of 21 No’s 15kW sound attenuated generating sets for mobile phone radio base-stations in Papua New Guinea. AJ Power has aggressively sought to increase its global reach year-on-year and has a licence agreement with Massey Ferguson to sell, distribute and support their products under the Massey Ferguson brand worldwide.
Exporter of the Year went to TG Eakin, the medical device manufacturer that has transformed disposable ostomy pouches to create a product that better protects the skin, creating comfort and security for the user. Over 90% of TG Eakin’s niche product range sales are exported outside the UK and in 2014, the company completed a £10m extension, with significant investment in technology to improve production efficiencies specifically for export markets. Hannan Meats, the high-end producer, processor, wholesaler and distributor of meat products to the food service sector in the UK, Ireland and Europe was awarded the Best Small Business trophy. Hannan Meats continually develops new techniques to improve the quality and range of food they produce, which in turn allows them to pay premiums to farmers and primary
Best Large Business was awarded to Gilbert-Ash, in recent years the construction and fit out contractor has successfully secured and delivered a number of high profile projects in Northern Ireland, including the Lyric Theatre, Ravenhill Stadium and the new Giant’s Causeway Visitor’s Centre. In 2014, the Everyman Theatre they constructed in Liverpool, won the Stirling Prize; and the company was also appointed to carry out the £20m refurbishment of the world-renowned Bartlett School of Architecture at University College London. The penultimate award, Business Person of the Year, went to Jarek Zasadzinski who, after joining the Greiner Group in 2005 turned the company around from an unfavourable financial position, a task which
Jarek Zasadzinski from Greiner Packaging with Andrea Hunter and Julie Davidson of Aer Lingus.
Patrick McLaughlin from Devenish Nutrition with Andrea Hunter and Julie Davidson of Aer Lingus.
Ray Hutchinson from Gilbert-Ash with Andrea Hunter and Julie Davidson of Aer Lingus.
Peter Hannan from Hannan Meats with Andrea Hunter and Julie Davidson of Aer Lingus.
James Cochrane from AJ Power with Andrea Hunter and Julie Davidson of Aer Lingus.
Julie Davidson, Aer Lingus cabin crew with Theo Ocks, Aer Lingus Director of Sales and Distribution and Andrea Hunter, Business Development Manager of Aer Lingus NI.
no doubt helped him earn the position of the organisation’s youngest ever CEO.
and acquired Cliffe Medical as a platform to further extend business development.
Under Jarek, Greiner Packaging has revolutionised Nestlé’s packaging, and he has been instrumental in building a dominant position for the company.
Andrea Hunter, Business Development Manager of Aer Lingus NI said: “Aer Lingus is delighted to be at the helm of these very prestigious business awards again this year, joining forces with Ulster Business to celebrate genuine innovation and the economic ties that exist between Northern Ireland, Great Britain and beyond.
And finally the Aer Lingus Award for Overall Excellence was awarded to T.G Eakin, in the last year the company completed a £6m factory extension, invested a further £4m in state-of-the-art machinery in fittings
MAY 2015
“Receiving an Aer Lingus Viscount Award
is a remarkable tribute as each year our judges raise the standard of expectation and are a tough bunch to please. It’s been an honour to select the winning companies and we’re looking forward to seeing their success stories continue. “Robust air links are fundamental for the future economy of Northern Ireland to flourish and we are proud to connect businesses with opportunities globally every day via our Belfast City to Heathrow and Gatwick routes,” she said.
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INTERVIEW
Putting property management at the centre of success
W
hen a market leading brand like Lambert Smith Hampton recognises one of its regional offices as a centre of excellence, people within the organisation and its competitors sit up and take notice. That’s what has happened to the property management team at LSH in Belfast, who have gained a strong reputation for going the extra mile for their clients in the commercial property sector. At a time when the property landscape is incredibly competitive, owners not only expect high standards in the provision of basic services, they are also looking for the agents who manage their properties to bring added expertise to the table. Gary Nesbitt, who recently became Head of Property & Asset Management for Lambert
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Smith Hampton in Ireland, says clients are looking to their property managers to be proactive and help them create value.
“That benchmarks us nationally and it shows we are one of the top management agencies in the UK,” said Gary.
Gary joined the company in 2001 in its agency department, focusing on sales, lettings and acquisition, before moving to the property management department in 2008. Lambert Smith Hampton has the biggest property management team in Belfast, with 18 surveyors and 24 support staff.
At present, Lambert Smith Hampton has 35 shopping centres and retail parks under management across the UK. It counts nine of the top 200 shopping centres (as ranked by Trevor Wood) as clients and 23 of the top 500 centres across the UK – including the likes of Frenchgate in Doncaster, Fulham Broadway Shopping Centre in London, Victoria Square in Belfast and Foyleside in Londonderry.
With 8m sq ft under management and an annual rent and service charge collection in excess of £160m, the company is clearly doing something right in the property management sector. Its property management team have been ranked 6th in the UK in the Going Shopping 2015 – The Definitive Guide of Shopping Centres produced by industry experts Trevor Wood Associates.
It is the scope of services that the office provides which Gary believes gives LSH the competitive edge. They are the only commercial property agency in Northern Ireland which has an inhouse retail-marketing consultancy to ensure
INTERVIEW
Shiells in Belfast, which was acquired last year by Lambert Smith Hampton, has been appointed National Head of Property & Asset Management. Patricia’s appointment comes at a time when Lambert Smith Hampton is in growth mode. The company recently bought ES Group and Tushingham Moore, the largest retail property specialist outside London, to strengthen its presence in the UK regions and increase awareness of its brand.
“We are essentially a one-stop-shop. We have all the services under one roof to enable us to create a bespoke and easy-tomeasure management service for our clients.” Patricia Dorrity and Gary Nesbitt photographed at Linen Hall Library.
clients maximise their return on marketing investment.
resulting in capital growth and generally an improvement of the physical space.”
Another service the Belfast office of LSH offers exclusively is expertise in building surveying and project management, an essential component in maintaining the physical environment of large properties and managing large capital expenditure projects. This supplements and dovetails into the core property management function.
Commenting further on Lambert Smith Hampton’s commitment to achieving tangible results for their clients, Gary also points to the team’s financial expertise.
“We are essentially a one-stop-shop. We have all the services under one roof to enable us to create a bespoke and easyto-measure management service for our clients,” he says. “We have proven that we can deliver added value to our clients and their assets. We see the added value as contributing to the enhancement of net rental incomes,
MAY 2015
“For example, we have been closely involved in some of the recent refinancing deals done by shopping centre owners. We play an integral part in the due diligence undertaken in any refinancing,” he adds. The market leading expertise and depth of experience LSH has recognised in its Northern Ireland operation has been reflected in the number of senior staff who have taken on UK-wide roles in their specialist areas. Patricia Dorrity who formerly headed the property management team for BTW
In her new role she will move from day to day management of the team in Northern Ireland to play a strategic role in directing how the firm delivers property management in all the regions of the UK and Ireland. Having been in the business for 27 years, Patricia has seen clients’ needs become more complex, which has created more opportunities for the property management experts at LSH to show their worth. “The expertise that exists in all parts of the business is being shared across the regions to ensure we have a strong proposition in all our key markets,” she says. “Our property management teams in London and across the UK are focused on delivering tangible benefits to landlords. I’m confident our Belfast office will continue to lead the way in demonstrating how property management with a commercial edge can benefit the bottom line.”
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SELF EMPLOYMENT
In praise of the part-timers By Julie Stewart
S
ocial interaction. It doesn’t matter if you are the lowliest admin or the highest in the hierarchy, we all need it. When I realised I was alone most of the week I decided it was time to be more flexible with my flexible working and look at a bit of part-time employment. The other half was thrilled, seeing it as an end to the inane babble that faced him at the end of the working day, when he was ambushed on the doorstep because the only time I heard my voice out loud that day was to ask the cat if she wanted to come in. Cats are rubbish for bouncing ideas off. So I took to the net, looking for a little parttime employment for some full-time sanity. As a freelancer already I was lucky. The salary wasn’t really an issue because of my own work and when it came to working hours I’m a flexible as a yogi, but by the sounds of things, I’m in the minority. Despite an increase of 20% in the number of workers opting to go part-time in the last two years, when it comes to finding suitable part-time positions often prospective employees need to fit more criteria than the idiots on The Apprentice. Perhaps the little darlings have started school and daytime TV is driving you nuts. Maybe you miss the buzz of business and your brain is going to mush or have always wanted to write some gothic fan fiction about Philip Schofield and your full-time job is holding you back. Whatever your reasons, the world of the part-timer is not an easy option. If you are looking for something between the hours of 11am and 4pm one day and another half day at a random start time the next then you are laughing, but once you have to juggle children into the mix, things start to get tricky. From the experiences of the women (and an increasing number of men) I
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know, finding part-time work while looking after the family is no episode of Peppa Pig.
waiting in the rain driving them, they just get stuff done. So they can go home.
If you can drop the kids to school you can’t pick them up or vice versa. If you opt for one or the other you need childcare, which then eats into the often smaller wages of the part-timer and at the end of the week, when you’ve done more running about than a taxi driver you end up with perhaps enough money for a take away. You start to wonder if it’s all worth it. If it’s a curry half’n’half maybe it is.
As the general election looms and politicians throw out soundbites about work-life balance and promising the end of zero hours contracts, perhaps employers could do their bit too.
For employers part-time hours does not mean part-time dedication. A study by Ernst & Young found that those working reduced hours wasted less time in the office than those on full time contracts. You could say that this is because they can play with Facebook on their day off, but perhaps it’s because with less time to do their work and the thought of little Johnny standing at the school gates
The ‘needs of the business’ is often bandied about as an excuse for everything from working patterns, pay rises or why Jenny needs to go and buy buns but at the risk of sounding like a Guardian-gorging leftie, what about the needs of the people? By giving a little thought to the full-time lives part-time workers have, businesses might just end up with a happier and more productive workforce. And that is good news for everyone, no matter what their contracted hours are. Julie Stewart is a social media consultant and copy writer and can be found at littlesocialtlc.com
Business Flags, firebombs & Finance flashbacks & Banking
BUSINESS FINANCE & BANKING
Back to bank backing Much has been made about the emergence of alternative forms of credit in recent years but bank lending is still the first port of call for most businesses. We ask whether banks really are eager to lend and how you should go about applying for finance.
B
ank borrowing is back for business. That’s the word from Richard Woolhouse, Chief Economist at the British Bankers Association, following the release of the latest set of High Street Banking statistics from the organisation.
The Bank of England
They showed that borrowing by businesses across the UK has been positive in two of the last three months and lending has improved across many sectors, a trend which has warmed the heart of bankers up and down the land.
“While it’s still too early to predict, these figures and the latest data from the Bank of England suggest that business borrowing has turned a corner.” “We’re starting to see signs that businesses from many sectors are starting to borrow more from their bank,” Mr Woolhouse said. “While it’s still too early to predict, these figures and the latest data from the Bank of England suggest that business borrowing has turned a corner.” The BBA report showed that companies’ net borrowing rose in March with
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contributions from wholesale and retail trade climbing £1.1bn, transport, storage and communication climbing £0.5bn and manufacturing up £0.4bn. The Bank of England data Mr Woolhouse refers to showed credit availability for large corporates in the first quarter of the year increased, although it remained unchanged for small and medium-sized businesses. While both reports are broadly positive, they hardly fly the flag for a rejuvenated business banking sector, nor do they show what’s going on here in Northern Ireland. Banks here say the last year has witnessed an increase in lending, and an increase in approvals.
“Business lending and consumer confidence was up in 2014,” Ian Sheppard, Regional Director NI, Business and Corporate Banking, Bank of Ireland UK said. “We approved £600m in new business lending, a rise of 20%. We’re saying yes to 93% of all lending applications. “Demand is coming from businesses of all sizes from start-ups to large corporates and to various degrees across all sectors, particularly agriculture and the agri-food sector.” Adrian Doran, Head of Corporate Banking for Barclays in Northern Ireland, said businesses are thirsty for finance. “The appetite for lending has certainly improved in the Northern Ireland market over the last few years. Banks have strengthened their balance sheets, have
BUSINESS FINANCE & BANKING
largely dealt with their legacy property issues, and coupled with an improving economy, are now actively seeking to grow their lending. In the case of Barclays, we view Northern Ireland as an attractive market to expand our business, particularly in the SME sector”. Robert Garrett, Danske Bank’s Head of Customer Service – Business Banking, said it has been lending more but demand is still catching up. “In 2014 we continued to provide the financial support and expertise required to support new and existing customers wishing to invest in their businesses. While economic recovery is gathering pace however, our appetite and capacity to lend to Northern Ireland businesses still exceeds demand.” At Ulster Bank Andy Mills, Regional Director, Business Banking encouraged potential borrowers to come forward. “Ulster Bank strongly welcomes applications for business finance. We’re making £1.5bn available to businesses this year, supporting growth and innovation across Northern Ireland. We want to help local businesses in growing the private sector in a sustainable way.” At First Trust, Brian Gillan, Head of Business Banking, said lending to business over the last year. “With lending levels up by an
MAY 2015
March 2015
February 2015
average of six months prior to
amounts outstanding (nsa)
by non-financial businesses
+ £1.6bn
- £0.3bn
- £1.3bn
£267.7bn
by financial businesses
+ £8.5bn
+ £0.5bn
- £4.2bn
£242.7bn
Net borrowing by businesses
impressive 45% year-on-year, covering just about every sector of business here in Northern Ireland, we want to continue to play our part in building confidence and aiding economic recovery. The £125m we committed to the SME sector under our business support funds is now almost fully committed and we have seen great take-up in our £50m Agri-Food funds. Banks certainly appear to be lending more but what’s the best way for companies to go about applying for credit? “Our lending approach is based on analysis of the integrity of a customer’s underlying cashflow and their ability to repay loan commitments,” said Danske’s Robert Garrett. “My advice to any business applying for finance would be to put together as much information and as detailed plans as they can, and
to come and speak to us as early as possible so we can guide them through the process.” Ian Sheppard said Bank of Ireland is trying to make the process of applying for credit easier. “We are engaged with businesses and industry partnerships and have introduced initiatives to make it easier for businesses to access bank finance, such as our 3-step credit application process.” Brian Gillian said the ability to repay is key. “As a responsible lender, we base our lending decisions on the soundness and viability of each proposition and on the ability of the customer to repay. The level of detail required for a funding application will vary depending on individual case size and complexity, but we have worked hard to make the processes as user friendly as possible and to provide helpful guides to assist our customers through the process.”
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BUSINESS FINANCE & BANKING
Show me the money If your business is in need of finance, it helps to know what is available. The UK Treasury sums up your options.
Investment finance Investment finance (also known as equity finance) involves selling part of your business (‘shares’) to an investor. The investor will take a share of any profits or losses that the company makes. Advantages • Investors can bring new skills and opportunities to the business, e.g. marketing or exporting overseas. • You won’t have to pay any interest, or repay a loan. • You share the risks of the business with your investors. Disadvantages • It can be a demanding, expensive
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and time-consuming process. • You’ll own a smaller share of your business (although your share could eventually be worth more money if your business succeeds). • You may have to consult your investors before making certain management decisions. • Only limited companies can sell shares, so you can’t raise money in this way if you’re a sole trader or in a partnership.
Crowdfunding Crowdfunding (also known as crowd financing or crowd-sourced capital) involves a number of people each investing, lending or contributing smaller amounts of money to your business or idea. This money will then
be pooled to reach your funding target. Your idea will usually be showcased through a crowdfunding website. Advantages • It provides an alternative to funding from conventional means, e.g. bank loan you can raise finance relatively quickly, often without upfront fees. • It can raise awareness of your new business. Disadvantages • Your idea could be copied if you haven’t protected it with a patent or copyright. • Any money you raise will normally be returned to investors or contributors if you don’t reach your funding target. • Crowdfunding is mostly unregulated
BUSINESS FINANCE & BANKING
(but from 1 April 2014, loan-based and investment-based crowdfunding will be regulated by the Financial Conduct Authority).
Loans A loan is credit, usually in the form of cash, you borrow and repay over an agreed length of time. Banks, community development finance institutions, other businesses and even friends and family can provide businesses with loans. Advantages • Unlike overdrafts, loans are not repayable on demand – this means that you’re guaranteed the money for the whole term (generally 3 to 10 years). • Loans can be tied to the lifetime of equipment or other assets you’re borrowing the money to pay for. • You won’t have to give the lender a percentage of your profits or a share in your company. Disadvantages • Loans aren’t very flexible – e.g. you may have to pay charges if you repay early. • You might struggle to meet monthly payments if your customers don’t pay you. • If your loan is secured against your personal property or assets (e.g. your home) you could lose them if you don’t keep up the payments. • The cost of repayments for variable rate loans can change, making it harder to plan your finances.
Grants A grant is an amount of money given to an individual or business for a specific project or purpose. You can apply for a grant from the government, the European Union, local councils and charities. You won’t need to pay a grant back, but there’s a lot of competition and they are almost always awarded for a specific purpose or project. Advantages • You won’t have to pay a grant back or pay interest on it. • You won’t lose any control over your business. Disadvantages • You’ll have to find a grant that suits your specific project, which can be difficult.
MAY 2015
• There’s a lot of competition for grants. • You’ll usually be expected to match the funds you’re awarded, eg a grant might cover part of the cost of a project but you’ll have to fund some of it yourself grants are usually awarded for proposed projects, not ones that have already started the application process can be time-consuming.
Overdrafts An overdraft is a credit facility you agree with your bank. It allows you to temporarily spend more than you have in your account to cover short-term financing needs. It should not be used as a long-term source of finance – if an overdraft is used persistently your bank may question whether you are in financial difficulty. You’ll need to agree your overdraft limit with your bank. You’ll usually be charged interest on any money you use, and may also have to pay a fee. Advantages • It’s flexible – you only borrow what you need at the time, making it cheaper than a loan. • It’s quick to arrange. • You normally won’t be charged for paying off your overdraft earlier than expected. Disadvantages • There will usually be a charge if you want to extend your overdraft. • You could be charged if you go over your overdraft limit. • The bank can ask for the money back at any time. • You can only get an overdraft from the bank that you hold your business current account with.
Invoice financing Invoice financing is where a third party agrees to buy your unpaid invoices for a fee. Invoice financiers can be independent, or part of a bank or financial institution. Advantages Both kinds of invoice financing can provide a large and quick boost to your cash flow. Advantages of invoice “factoring” include: • The invoice financier will look after your sales ledger, freeing up your time to manage your business.
• They credit check potential customers meaning you are likely to trade with customers that pay on time. • They can help you to negotiate better terms with your suppliers. Advantages of invoice “discounting” include: • It can be arranged confidentially, so your customers won’t know that you’re borrowing against their invoices. • It lets you maintain closer relationships with your customers, because you’re still managing their accounts. Disadvantages • You’ll lose profit from orders or services that you provide. • Invoice financiers will usually only buy commercial invoices – if you sell to the public you might not be eligible. • It may affect your ability to get other funding, as you won’t have ‘book debts’ available as security.
Leasing and asset finance Leasing or renting assets (e.g. machinery or office equipment) can save you the initial costs of buying them outright. Advantages • You’ll have access to a high standard of equipment that you might not have been able to afford otherwise. • Interest rates on monthly instalments are usually fixed. • It’s a less risky alternative to a secured bank loan – if you can’t make payments you’ll lose the asset but not, for example, your home. • The leasing company carries the risks if the equipment breaks down. • As long as you make regular repayments for the period of the lease, the agreement can’t be cancelled. • It’s widely available. Disadvantages • You can’t claim capital allowances on a leased asset if the lease period is less than 5 years (or 7 years in some cases). • It can be more expensive than buying the asset outright. • Some long-term contracts can be difficult to cancel early. • You may have to pay a deposit or make some payments in advance.
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BUSINESS FINANCE & BANKING
The evolution of banking
By Adrian Doran, Barclays’ Head of Corporate Banking in Northern Ireland
A
s our local economy continues to return to normality, it’s worth considering what this means for our local banking sector, and in turn for the businesses which rely on our support. Firstly, it’s clear that banking will not return (in the short term at least) to the ‘boom and bust’ days of the mid-2000’s for a number of reasons. Banks are rebuilding their balance sheets, there is increased regulatory supervision and this, coupled with higher capital requirements, means that all banks have to be more considered in their approach to lending. The good news is that things have improved from the dark days experienced during 2008-2012. There is evidence of an increased appetite to lend across most sectors, with the possible exception of residential house-building which is still in the ‘difficult to do’ box. Equally clear, is the fact that many banks are still working through their legacy property loans, especially those attached to SMEs. Some businesses are still struggling to get access to the right types and amount of credit, due to some of these legacy property issues. All of these aspects contribute to creating a more fluid market and our experience is that businesses are increasingly testing the market for their banking needs. This presents a challenge or opportunity to our local banks, depending on their position (thankfully for Barclays we see it as an opportunity to expand our business). This more fluid market will continue to change the composition of our local banking market (i.e. the respective market share of the Big 4 as well as the challenger banks such as Barclays, Santander and HSBC). A more structured approach to lending is requiring banks to be more diligent in their credit assessments, which in turn means customers are being asked for more (and better quality) information to support their application. To this end, the advice that your relationship manager or chartered accountant can provide at the outset of this process is very important. Despite the challenges the banking sector has been through in recent times, it’s reasonable to expect that there will be even more significant changes in the years ahead. In particular, I believe that changes in digital technology will be one of the fundamental drivers in the banking sector in the next decade. As banks review their branch networks (due to declining use) their digital offering becomes more and more important. The investment required to launch these new technologies is huge, and clearly large international banks may have an advantage in this regard.
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Adrian Doran
Likewise, as our economy grows and changes (particularly if corporation tax is lowered), then this too will drive further change in the banking sector – for instance we may expect more demand for products to support exporters. High growth sectors such as ICT, Agri-Food and Tourism will likewise require more bespoke banking products, whilst the retail sector will require access to the latest mobile payment technology. Product expertise and industry knowledge are also becoming increasingly important, regardless of the sector. Whilst “relationship” banking will continue to be an important feature (particularly in the NI market), businesses are rightly demanding much more than a friendly banker with whom they can strike up a good relationship. Ideally, they want a banker who is all of these things – i.e. technically qualified, can understand and anticipate their needs, and have access to all the latest products and services required to help their business succeed. All of these changes present challenges and opportunities for our local banking sector (and the bankers therein). What’s clear is that the next decade promises to be just as interesting as the last one. Barclays is a trading name of Barclays Bank PLC and its subsidiaries. Barclays Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No. 122702). Registered in England. Registered number is 1026167 with registered office at 1 Churchill Place, London E14 5HP.
INVEST IN A LIFE LESS ORDINARY WE’RE THINKING BEYOND THE OBVIOUS TO GET THE BEST FOR YOUR INVESTMENTS. TO FIND OUT MORE CALL NIGEL CRAWFORD, EXECUTIVE DIRECTOR ON +44 (0)28 9026 1150 OR VISIT WWW.QUILTERCHEVIOT.COM The value of investments, and the income from them, can go down as well as up. You may not recover what you invest.
Quilter Cheviot Limited is registered in England with number 01923571. Quilter Cheviot Limited is a member of the London Stock Exchange and authorised and regulated by the UK Financial Conduct Authority.
EDUCATION
Belfast Met top of the class for employer engagement
Jackie Henry, Minister Farry and Marie-Thérèse McGivern pictured with the winners’ trophy.
I
f anyone needed convincing of the benefits of working alongside a local FE college then they need look no further than Belfast Met’s collaboration with Deloitte. In fact, the collaboration has been so successful that it has just won a prestigious Times Educational Supplement (TES) Award. The win, in the much coveted Employer Engagement category, marks all sorts of firsts: it’s the first time a Northern Ireland college has won the award, it’s the first time the judges have seen a collaboration deliver such “spectacular results” within a relatively short timeframe and, critically, it’s the first time that a partnership model – which on the face of it appears to meet very specific
30
requirements (in this instance, Deloitte’s drive to ramp up its Data Analytics capability) – could be adapted so easily to meet the skills needs of a whole variety of employers. Of course, the DATA partnership would not have happened at all if it weren’t for the Department for Employment and Learning’s (DEL) Assured Skills programme. The award-winning programme was designed by DEL, Deloitte and Belfast Met under the Assured Skills initiative to offer participants relevant industry training and skills and a possible offer of employment with Deloitte. Minister Farry explains: “Winning the TES Award is great recognition for Belfast Met and a ringing endorsement
of what we are doing as a department around the Assured Skills programme. “The initiative has been extremely successful in terms of giving companies the confidence to invest in Northern Ireland, knowing that they will have a strong pipeline of the particular skills that they require to make their businesses a success.” Over the course of just a few short weeks, the three partners assembled a small team which met to design and develop the bespoke DATA academy. Like all subsequent training academies, it came about quickly, in total partnership with the employer and in direct response to the company’s clear and pressing need.
EDUCATION
Awards ceremony in London.
Jackie Henry, Senior Partner at Deloitte, said: “Deloitte needs to continue to grow rapidly and that of course means attracting the best talent available into our business. A few years ago, it was proving difficult to find suitably skilled employees to meet international client demand and feed projected growth in Data Analytics. That’s when we turned to Belfast Met. “Deloitte’s relationship with Belfast Met has been an incredibly positive journey,” she continues. “What strikes me most about that partnership is Belfast Met’s flexibility, their agility and the fact that they have really rolled their sleeves up and worked with us in co-designing a training programme which is helping us service international clients from our Belfast Office.
of industry and innovative government interventions, such as Assured Skills, give us the opportunity to do just that.
engagement with business, whether it is in terms of training for the needs of employers or in supporting research and innovation.
“Our partnership with Deloitte is exciting for all sorts of reasons, not least because it shows how employers and colleges can successfully come together in designing higher-level training which is carefully and deliberately aligned to business needs.”
“Belfast Met has been spearheading this innovation in relation to Assured Skills and the Academy model and we are pleased to see that this is now being recognised as first-class quality by a wider UK audience.”
The Deloitte-Belfast Met partnership has opened the door to a whole range of other Assured Skills, Academy-style collaborations including those with companies such as Diageo, PwC, Alexander Mann, Harland & Wolff and FinTrU.
The Assured Skills programme is a joint programme between the Department for Employment and Learning for Northern Ireland and Invest Northern Ireland.
For further information on Belfast Met’s business support services please contact
Minister Farry adds: “The Further Education sector is really at the forefront of direct
businessdevelopment@belfastmet.ac.uk or check out @e3_belfastmet
“In fact, Belfast Met has really challenged us to think about how we take talent into our business and do things differently.” Commenting on the TES win, Principal and Chief Executive of Belfast Met, MarieThérèse McGivern said: “This is a fantastic accolade for the College and a great way of establishing our credentials on a bigger stage. Colleges must be sufficiently nimble to respond to the dynamic demands
MAY 2015
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PROFILE
Ulster University Business School
Distinguished Alumni
Sean McGuire, Director, CBI Brussels (BE), is the third to be profiled in the Ulster University Business School Distinguished Alumni series.
Sean McGuire, Director, CBI Brussels (BE), BA (Hons) European Business Studies, Ulster University Business School.
Which course did you study and when did you graduate? BA (Hons) European Business Studies. I graduated in June 1997. Why did you decide to study that particular course at the Ulster University Business School? I had always a strong interest in European politics, history and languages and the European Business Studies (EBS) course offered a wide range of subjects which allowed me to develop my knowledge, skills and understanding in these areas. In addition, the economic and business elements were new to me and therefore I firmly believed that EBS would provide me with key skills to pursue a career in European and International Relations. Can you give us a brief synopsis of your career? After graduating from Ulster University Business School in June, I took up my first role as European Affairs Adviser at the Engineering Employers’ Federation (EEF) in London. My
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main role at the EEF was to advise companies on EU social and employment legislation, following the recently elected Labour Government’s decision to sign the EU Social Chapter. Key issues at the time included the Working Time Directive, Agency Work and European Works Councils. After three years I decided to move to Brussels and take up a position as Policy Adviser with the Confederation of British Industry (CBI). Over the years I have progressively advanced within the CBI and five years ago I was appointed Director of its Brussels Office, overseeing all of the CBI’s EU lobbying activities and the promotion of business needs. Since then, I have also taken over responsibility for the CBI’s international trade agenda, focusing on the completion of EU trade deals with India, Canada, United States and Japan.
What was your most memorable time at the Ulster University Business School? This has to be the opportunity I was given to study in Paris with an additional work placement in Brussels. These experiences were both instrumental in the career path I chose.
What part of your study at the Ulster University Business School has been the most beneficial? The most beneficial elements for me were the business and economic elements, although French still plays an important part in both my professional and private life.
How has the business world changed since you graduated? Since I graduated, there have been many political and economic developments across the world, but perhaps the financial crisis of 2008 and the subsequent global downturn has been one of the most significant. As a result, business had to adapt to a ‘new normal’ whereby (i) growth rates were more subdued, (ii) markets faced greater regulation than before and (iii) a more negative public opinion of business and free and open markets. In order to adapt to this change, business has shouldered its responsibility by addressing these challenges as well as demonstrating the added value business brings to society through greater products and services at competitive prices, through the taxes it pays, the jobs it creates, thus enabling all parts of society to benefit.
How did your study prepare you for your career? EBS provided me with a good and solid grounding in the key factors affecting the world of international business. It opened my eyes to the fact that actions in another part of the world have an impact on local market conditions.
Who do you most admire in the business world? I can’t select just one individual but rather a group. Entrepreneurs really inspire me for their vision and determination to succeed. Their conviction and personal hard work contributes so much to creating growth, jobs and prosperity for everyone.
Belfast technology firm breaks into US Belfast technology firm i3 Digital Ltd has announced the deployment of one of the most advanced and holistic digital marketing and communications platforms in the US. The team at i3 Digital is delivering a customised version of the company’s Immersive Communications and Engagement (ICE) platform, which will support up to 25,000 businesses and attractions in the city and greater Worcester area in Massachusetts. The cutting edge app platform will enable participating organisations to promote, target and interactively engage with visitors and local residents. The company is also in advanced discussions with five other flagship cities across the United States. The platform provides a dynamic and interactive experience for visitors attending events, conventions, or meetings, and for residents seeking exciting experiences or simply local offers and deals. Worcester’s Chamber of Commerce President, Timothy P. Murray stated: “While i3 Digital’s app platform will greatly enhance the new visitor’s experience in our region, we hope it will also help Worcester’s residents
Pictured (l-r) are Timothy Murray, Christina Andreoli and Adrian Bradley.
enjoy the many opportunities available to them including arts, sports, nature, retail, and all our other activities.” Via the app, users can view nearby attractions, buildings, streets and districts including historical information via i3 Digital’s unique “Time Capsule” feature, which includes an interactive timeline. The app also simplifies finding local businesses, deals, news, and events.
“Worcester is vibrant – with 80 arts and cultural destinations, restaurants, retailers, hotels, and transportation providers,” said Christina Andreoli, Executive Director, Destination Worcester, and Vice President, Worcester Regional Chamber of Commerce. “i3 Digital’s app provides an easy and convenient way to find exciting venues, take advantage of discounts and deals, and share information with friends and family. It will also help our retail, destination, and entertainment communities, which is a huge benefit.” Erin Williams, Executive Director of Worcester Cultural Coalition and Chief Cultural Officer for the city of Worcester, said: “The new app provides an immersive experience for users, informs them of deals and offers, and assists businesses with their marketing. It’s a win-win for everyone. i3 Digital was the most qualified vendor for this initiative based on an extensive and long-running RFP process. Their communications skills, quality, and proven ability to deliver this product in a timely manner made them the right fit.” i3 Digital’s CEO Adrian Bradley stated: “Our hard work is now starting to pay off! We knew we had created something worldclass that could transcend markets and even continents. This is just the start of our journey, and with our new office in Boston, we intend to push into the market aggressively”.
www.i3digital.com
PROFILE
Connected...
with Neal Lucas
Neal Lucas (left) and Philip Bain.
Neal Lucas, MD of the executive search business, Neal Lucas Recruitment Ltd, continues to talk to the Directors behind some of Northern Ireland’s leading companies in this popular Ulster Business series. This month, Neal meets Philip Bain, Director of ShredBank. The role: Director The company: ShredBank The person: Philip Bain
What markets do you operate in and what is your position in those markets at the moment? We operate exclusively in Northern Ireland and we are the leading on-site shredding company in the province. How have your markets changed over the years and why did you target these? Over the years our markets have remained the same. We have an extensive client base across all sectors of the economy. Our clients typically are organisations that generate confidential documents that require a secure and transparent method of destruction. We provide them with an on-site shredding service that destroys their confidential information at the client’s premises using our mobile shredding trucks. What process do you use for strategy formulation? We have a very well-refined business model that adapts to the ever constant changes in the business environment.
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What key attributes of your own leadership do you feel have been important in delivering on the strategy? Being proactive and persistent! What are the most important decisions you make as a business leader? I think the most important decisions you make are those which will have an impact on people’s lives. Many years ago, in a previous company, I asked my managing director what was the secret of his success, and he told me “just do the right things.” I asked him to clarify and he replied “just do the right things.” There is simplicity with business and I think in every decision you make and everything you do, just try and “do the right things.” What is your view on innovation and how does this fit into your strategy? Innovation is crucial for sustainability and growth. We have recently introduced hard drive destruction to our service offering and product destruction. However, for me, innovation is not just about a new product development but it is being innovative in all areas of business including your marketing strategies, your corporate social responsibility initiatives and your people development policies.
How do you extract complementary skills from your team to enable strategic objectives to be delivered? Just bring in the right people! Focus on getting people with good character, make sure they fit within the organisation, they are good team players and they have a great attitude with a passion and enthusiasm to succeed. Do you have a definition of leadership and what is it? Leadership is essentially two or more people trying to achieve a common goal. We tend to think of leaders as the heroic, charismatic, extrovert who are great communicators… but in reality those people are few and far between. If you define leadership as “two or more people trying to achieve common goals” then leadership is everywhere and the focus should be in developing leaders throughout the organisation rather than just the high maintenance few! What are you doing to ensure you continue to grow as a business leader? Keep listening and learning! Neal Lucas can be contacted on 028 9268 8818 connected with on LinkedIn or followed @NealLucasRec
Commercial Flags, firebombs & & Property flashbacks Construction
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Repining the foundations of the property market
By John Simpson
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here are a large number of casualties still living through the aftermath of the collapse of property prices in Northern Ireland during the recent recession. Some developers who, formerly, had the comfort of rising property values and the convenience and confidence to add to their outstanding borrowing, have lived through a ‘riches to rags’ experience.
That proved to be wrong.
The pain of the crisis in commercial property values was sharp, enduring and attracted little sympathy. Large amounts of borrowing, which in the later decades of the 20th century would have been paid off by relying on negative real interest rates, as property values rose to underpin borrowing and backup for borrowing guarantees, were not thought to carry undue risk.
Some of the largest property-owning businesses in Northern Ireland started with large amounts of bank borrowing carried on balance sheets where the assessed capital value of the assets was buoyed by unrealised gains posted on the balance sheets. The ratio of outstanding bank borrowing to the stated value of assets started in 2007-2008 with a comfortable margin of apparent
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Many, if not all, the largest property developers in Northern Ireland were caught. The fall in property values was dramatic and outside the experience of the memory of the investors. There was little reassurance or relief to be gained by making cross-border comparisons of the property market with what was happening south of the Irish border.
security. By 2013-14, those margins revealed a threatening squeeze which, for some, became a real problem as the forbearance of lenders was tested to their limits. A simple survey of a small group of the local property companies paints a stark picture of what has been happening. The annual accounts of six locally-owned companies with interests in Northern Ireland and sometimes in Great Britain have been reviewed to assess the impact of the financial crisis on their balance sheets. All six companies were owned and controlled by only a small number of shareholders, often within a family group. Details for 2009 and 2013 have been compared. Each company had a balance sheet value of fixed assets (or property investments)
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at much reduced values or accepting changed borrowing terms from the existing or a new lender. Commercial property entered the arena of negative equity. Negative equity in commercial property can co-exist with a performing loan. That combination has wider implications. It creates an overhang on other business decisions. For the banking and property sectors the impact of the crisis has been severe. For the banks, in a major way, outstanding loans have been taken off the balance sheets. Lending has been novated to alternative suppliers. The banks have taken a hit in losses realised as loans have been transferred. For the banks, this is working its way through their accounts and, after the provision for the written down value of loans, the banks are now able to show that the profit and loss account is now ‘back in the black.’ For the property developers in many cases there remains an outstanding series of loans to repay. Either the repayments will continue until the debt is repaid or, in extremis, the (new) lender forecloses on the debt and the property company goes into administration or liquidation.
of over £200m. In 2009 they each had outstanding bank borrowing of over £100m. Borrowing in 2009 ranged from 57% to 97% of the stated balance sheet value of assets. The degree to which this borrowing was secured by these assets or by other forms of security is not available. Each of these single companies was still active in 2013-14. In each case the balance sheet value of assets had fallen, usually by an appreciable margin, whether through asset sales or, as seems more in evidence, through an adjustment from a fall in the unrealised value of these assets. For the six companies in this group, fixed asset values (or investment values) had fallen from £2.97bn in 2009 to £1.63bn in 2013: a fall of 45%.
MAY 2015
Of the six companies examined there is a critical interest in the degree to which their trading relationship of assets to borrowing has changed. Borrowing which in 2009 averaged nearly 84% of fixed asset values had, by 2013-14, risen to over 122% of those values. No surprise therefore that the borrowing relationship was less sustainable for the group. Since these financial results were registered some of the six companies have gone through the experience of rationalising their business finances or, less sympathetically, have seen their loans’ transferred to a new lender. Small wonder that the dilemma frequently became the prospect of realising value through property sales
Some borrowers have gone on record with complaints that the transfer of their liabilities to a new lender, or in circumstances where the terms of the lending are more onerous, has made a difficult situation no better and indeed possibly worse. One or two large borrowers, anticipating the financial pressures made the difficult decision to sell their assets and refinance a smaller property portfolio with a capital value well below what had been expected several years earlier. These are the business investors who have retrenched and now live to recover and rebuild. As all these changes work through the local property market, a new baseline of realistic market values is emerging, if only slowly. However, there is a reasonable expectation of stability returning to the market place. Patience is still commended.
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Construction: an export business?
By Ray Hutchinson, Gilbert-Ash
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t’s a sign of the times that few people reading this will be surprised when I say that 100% of the projects Gilbert-Ash is currently undertaking are outside Northern Ireland. Through the economic downturn, GilbertAsh successfully secured and delivered a number of high profile projects in Northern Ireland – including the Lyric Theatre, the refurbishment of Ravenhill Stadium and the new Giant’s Causeway Visitor Centre. But with few large scale contracts available since then, the company took the strategic decision to target projects in Great Britain that would allow us to make use of our expertise and experience. Gilbert-Ash has long undertaken projects overseas in countries like Poland, Bahrain, China, Japan and Australia. But we’ve been much more focused in our approach over the last few years, in particular winning a number of multi-million pound contracts in the Arts & Culture sector. In October, the Gilbert-Ash constructed Everyman Theatre in Liverpool won the 2014 Stirling Prize, one of the most prestigious prizes in the industry. Gilbert-Ash worked collaboratively with the architects for the project, Haworth Tompkins, and The Liverpool and Merseyside Theatres Trust. Also in Liverpool the company has recently finished Phase 1 of the major refurbishment of another landmark site, the Liverpool Philharmonic Hall, which has already received positive feedback from patrons of the venue. In London, Gilbert-Ash has been appointed to carry out the £20m refurbishment of the world-renowned Bartlett School of Architecture at University College London and
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Artist’s impression of the £20m refurbishment of The Bartlett School of Architecture at University College London.
is making progress on the new Fetal Medicine Centre of Excellence at King’s College Hospital in London. Work is also progressing at a rapid pace on the £20m refurbishment of the Institution of Engineering and Technology building in Savoy Place in London, as well as a £13m contract to refurbish and extend the National Army Museum in Chelsea, and the redevelopment of the landmark Battersea Arts Centre in South London. For all of these projects, Gilbert-Ash continues to use its predominantly Northern Irelandbased workforce, which creates its own challenges. Our staff have had to get used to flying out on a Monday morning and back on a Friday evening, and to help them maintain as balanced a family life as possible we have implemented flexible structures to enable them to travel home at regular intervals. Our employees understand that if we want the company to grow we have to look elsewhere for business and they have reconciled themselves with the travel being a fact of life. With so many projects in London, we now have a community of people from Northern Ireland in the city, which has helped.
We are still looking at opportunities in Northern Ireland to give our teams more time at home, but we’re doing this on a strategic basis. We are only looking at high profile, landmark landscape projects, and there aren’t many of those out there. Of course, while it’s not ideal for family life, our current workforce are going to come through the current period with impressive CVs, having worked on landmark buildings they maybe wouldn’t have got the opportunity to work on had the local market remained buoyant. Projects like the Everyman Theatre and the Liverpool Philharmonic Hall don’t come around all that often and they’ve provided our staff with the chance to work with some of the UK’s top designers, architects and project managers. The sector has had an ‘image problem’ and is not attracting enough graduates as it is perceived as being a low skilled sector. The variety of work we are undertaking at Gilbert-Ash helps highlight the highly skilled roles available in the sector, if you’re prepared to travel.
Criminal damage – a time of change? Celia Worthington from Worthingtons Solicitors explores the criminal damage scheme, one peculiar to Northern Ireland.
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he Minister for Justice in Northern Ireland has recently issued a consultation document with a view to reviewing the existing criminal damage scheme in Northern Ireland. The Criminal Damage (Compensation) (NI) Order 1977 was introduced in 1977 to plug the gap created as a result of the insurance industry withdrawing from the Northern Ireland market in relation to riot and terroristrelated damage. As a result, Northern Ireland became the only European Union country to have a scheme providing compensation for criminal damage to property.
“Currently there is no cap on the amount that can be claimed for criminal damage claims. The proposal includes a cap of £2m on any claim with the intent that any excess can be covered off by insurance.” However, as the number of terrorist attacks diminish, the fundamental question at the centre of the review process is to what extent should the tax payer bear the cost of compensation for criminal damage or should
this responsibility be returned to the individual to insure through the insurance industry? Whilst there are detailed proposals for change to the legislation, the review document proposes that the principle of a statutory criminal damage compensation scheme should continue where damage is caused as a result of terrorist related activity or serious public disorder. Where the existing legislation requires three or more persons unlawfully, riotously or tumultuously assembled together to constitute serious public disorder, the proposal is to increase this to 12 or more people to bring this into line with the definitions used in GB legislation. Both terrorist-related claims and serious public disorder claims would need certificates from the Chief Constable. Where criminal damage was not caused by terrorism or serious public disorder the individual would need to rely on insurance. Currently there is no cap on the amount that can be claimed for criminal damage claims. The proposal includes a cap of £2m on any claim with the intent that any excess can be covered off by insurance. The proposal includes a reduction of the timescale for claims and streamlining of the two tier process meaning that there would be one claim that needs to be submitted within twenty eight days of the incident. Some will argue that the current compensation laws don’t go far enough in that people can be refused compensation where they fail to meet the threshold of
three or more people involved in the criminal activity where same is not terrorist related. These proposals will not assuage these concerns. Others will seek to normalise Northern Ireland to a position where responsibility is placed back on the shoulders of the individual who will need to ensure they are adequately insured to claim compensation in events not covered by the criminal damage compensation scheme or seek to recover losses from the convicted criminal. It is anticipated that revised legislation will be available by the end of the year. Celia Worthington is senior partner in the Commercial Department of Worthingtons Solicitors, Belfast
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The space race By Richard McCaig, Senior Surveyor, Osborne King Commercial Property Consultants
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nyone who has been searching for office space in Belfast recently may have been surprised by the lack of high-quality space available within the city centre and Greater Belfast area. In the last 12 months there has been a significant upturn in occupier requirements for “grade A” space which has been driven by a combination of arriving US and UK-based firms absorbing space and local companies seeking to expand following a period of consolidation. At present, city centre headline rents are in the region of £15.00 per sq ft, albeit frustratingly Invest Northern Ireland continues to quote £12.50 per sq ft, and we expect this to increase over the course of 2015. In simple terms, the demand for grade A space is outweighing the existing supply and there is only one new-build office development underway at present – City Quays at Belfast Harbour. In an ideal world, private landlords would have started other new-build schemes around the city, but there’s a problem. Based on the best current headline rental levels of c. £15.00 per sq ft, it is not economically viable for developers to construct new premises. Office rents will need to be in the region of £18.00
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- £20.00 per sq ft before cranes appear on the Belfast skyline once again. In recent years, Northern Ireland has become a viable office location for global firms. Our package of low occupancy costs, comparatively low wage costs and general quality of life has been key in attracting new occupiers and will continue to do so, and if a cut in corporation tax is delivered it should enhance an already attractive offering. Invest NI has been successful in attracting job opportunities but the lack of grade A space will delay these coming on stream; strategic local government needs to understand the commercial realities required to deliver new-build projects. To meet the increasing demand a number of private landlords are in the process of refurbishing existing office stock. This will create some excellent opportunities in the short term for those looking to expand. The arrival of new companies to Northern Ireland along with the growth of those already based here is an exciting prospect and will further enhance the office sector within Northern Ireland. There is no doubt that grade A office rents will increase in the short term. This
is not something that should be feared by tenants as ultimately an increase in rents will allow landlords to construct high-quality office accommodation and modernise the existing stock. It is important to remember that Belfast currently has the lowest office rents per sq ft of any major UK city. For example, headline rents in Birmingham are £28.50 per sq ft; in Cardiff they are £22.00 per sq ft whilst in Edinburgh they are currently £30.00 per sq ft. With rental levels such as those outlined above, landlords are able to construct excellent office accommodation which meets the requirements of global occupiers. Northern Ireland has attracted a significant number of new office occupiers to the province in the last 12 months, and in order to ensure this continues we must supply buildings that match our economic aspirations as the two go hand in hand. During 2015 it is highly likely that a number of corporate occupiers will sign pre-let agreements and have a building designed and built to their specific requirements. In order to achieve this they will need to pay a viable rent. Watch this space!
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The company racking up success in storage equipment By Steven Johnston, Racking & Shelving Ltd
Each of our customers share a common goal – to maximise their operational efficiency and effectiveness by getting the most out of their available space. Our mission is to design intelligent solutions that are tailored to each client’s unique requirements to allow them to meet and exceed these goals. Working closely with clients, we use our extensive experience in the design, supply and installation of storage equipment and material handling solutions to provide the best and most cost effective answer to their storage needs. RSL are experts in advising, and designing, systems that maximise any premises’ ability to store material, no matter the shape, size or budget. Clients also regularly benefit from the full professional service package on offer including; consultation, design, quotation, delivery/customer collection, installation, dismantling/relocation, racking safety inspections and maintenance/service contracts.
Steven Johnston
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ince forming in 2003, Racking and Shelving Ltd (RSL) has established a highly competitive and well-respected position in the market place. With over 70 combined years of experience in the industry, we have learned to truly listen to our customers, familiarising ourselves with their business in order to fulfil their needs to an outstanding standard. Based in Antrim town, we maintain a stock of pallet racking, shelving, workbenches, cantilever racking, lockers and plastic storage bins – just some of the applications used for space management within our broad array of products that service a wide spectrum of markets, such as; commercial, educational, leisure, medical, industrial and domestic. This allows us to fulfil express orders with lead times that are ahead of the industry. RSL is a leader in the provision of storage handling solutions in Northern Ireland and regularly successfully compete against much larger competitors on contracts in Ireland and Great Britain, which has helped to form our strong reputation for quality, service, reliability and expertise in such a highly competitive market.
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“Each of our customers share a common goal – to maximise their operational efficiency and effectiveness by getting the most out of their available space.” No job is too big or too complex, which has been demonstrated by RSL having successfully completed a large number of projects for major national and international retailers, manufacturers and Government bodies, including; mechanical and electrical work, office fit-outs and various turnkey projects. We strive to show our customers that our policies and procedures for health and safety are among the best in the industry. As a result of our dedication, we are proud to note that our working practices have been approved by Safecontractor’s rigorous assessment and auditing procedures! Safecontractor is a health and safety assessment scheme that is recognised all over the UK, with more than 220 major clients and over 22,000 contractors supporting the scheme. Quality and service really are more than just words – they are what we believe in and how we do business.
FurniturE SEating StoragE Partitions DEsign CarpEt Lighting Logistics
building interiors building relationships t: 028 9070 1080
e: think@1080.co.uk
www.1080.co.uk
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Building on solid foundations Abbey Bond Lovis’ new Associate Director Ian McClure gives his insight into some of the insurance issues in the world of commercial property construction. The contractor ought to have Employers & Public Liability, Contract Works, Plant cover as a minimum amongst other covers. • Design and build contracts are now very common as firms offer a “one-stop shop”. The contractor ought to have adequate Professional Indemnity insurance to provide cover in the event of a design error. • It is likely that specialist sub-contractors may be engaged to undertake certain aspects of a contract, such as piling. It is extremely important to check if they also carry adequate insurance. • Tell your own insurers that you are undertaking construction works – before it starts. You have a duty to advise your insurers of changes including building works.
Ian McClure
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t is heartening to see businesses investing in premises expansion in Northern Ireland, both as a sign of economic progress and recovery and also providing much needed jobs in the local construction sector. It is important to properly protect those assets and insurance forms a recognisable (if not very popular) part of this along with adequate security systems and good risk management. Most businesses recognise this and buy insurance to protect themselves financially if the worst does happen to their business premises. The insurance is often only considered when the construction works are complete and ready for hand over. But Ian highlights key issues for businesses to consider long before the works start: • Make sure the contracts with your selected building firm are clear in establishing insurance responsibilities. It is not necessarily the builder’s responsibility to insure all aspects of a project, especially if this involves purely extension or refurbishment work.
• Your own insurers may provide helpful advice and guidance, including what type of alarms or fire protections they would prefer on the property. They may offer long term discounts on your insurance for positive risk protection features for the property which can be negotiated into the contractor’s price – this is the time to check this, not after completion! • ‘Advance loss of profits’ cover – should a large loss occur prior to completion this insurance will provide the business with cover for the delayed profit. • ‘Latent defects’ cover to protect you against problems which arise after completion and if the contractor is no longer trading • Consider 21.2.1. ‘non-negligence’ cover for damage caused by building works to surrounding property. The builders public liability insurance will only cover damage caused where they have been negligent and this isn’t always the case. You may be left with a serious uninsured exposure. As Ian has pointed out, there are considerable factors to consider. He recommends that you seek appropriate professional advice from an insurance broker at an early stage and you can begin work with confidence that your valuable investment is covered. Abbey Bond Lovis are Northern Ireland’s largest independent commercial insurance broker with offices in Belfast, Armagh and Coleraine. They
• Ask the contractor for proof of insurances. They are asked for this every day and have these checked by a professional broker.
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are pleased to advise clients on all aspects of commercial property insurance and construction. Ian can be contacted on 028 9335 0015
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Planning an office move? Get your ducks in a row
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oving office is a big undertaking and, with a significant increase in demand for high-end office space in Northern Ireland, particularly in Belfast, supply remains an issue. According to CBRE’s Office Agency team, it is more important in the current climate for any business – large or small, local or international, to plan properly for a successful office move. High demand for space can potentially come with longer waiting times so it is important to have all your ‘ducks in a row’ as early as possible to ensure a smooth transition and avoid potentially significant waiting times. CBRE Belfast tenant advisory experts David Wright and Lisa McAteer have compiled their top tips to help your move go smoothly.
THE KEY FIVE THINGS YOU NEED TO KNOW 1. Avoiding false starts
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2. Identifying building defects 3. Rethinking workspace 4. Getting bumped 5. Getting internal buy-in
Planning your move carefully can help anticipate and minimise problems, helping you put contingency plans in place to work through any obstacles.
1. Avoiding False Starts
Think About Where, When, How Big and How Much...
To avoid false starts there a number of questions you should ask yourself: • Are the correct people and business units aware and on-board with the plans? If not, you could hit a brick wall at sign-off stage, with possible delays and complications. The upfront cost of moving office means that detailed preparation can help avoid costly false starts. Ensuring there is a plan for a few different outcomes will prove useful. • Have you fully understood your current lease to check whether there are any costs and penalties for moving from your existing office earlier than planned? If there are, then working these into budgets can prevent unexpected surprises.
Where? Carry out an in depth analysis of target locations – Consider how a move to a different location will affect your staff and their travel time to work, is there parking for staff or clients/customers?
When? Move quickly – Competition for space and rising rents mean your preferred location could have limited options. While managing you rmove, you should budget for a longer overlap to secure your preferred option. There is such a shortage of quality office space in Northern Ireland, it is important to stay ahead of the large indigenous and international companies.
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How big? Plan out the space you’ll need – Get space plans drawn up early enough to be confident that the size of the unit fits your requirements, taking into account future growth needs. Again, with limited high quality space in Northern Ireland, it might be necessary to alter an existing space to suit your requirements so you might need to plan with your landlord!
Lisa McAteer, Associate Director and David Wright, Director, Office Agency Team at CBRE, at newly refurbished Grade A office space in Belfast City Centre.
How Much? Cost it up: • Capital expenditure needed to fit-out and potentially alter the space. • Security deposit, if required. • Realistic moving and operating costs.
2. Identifying Building Defects Don’t get caught out, undertake a building due diligence survey – This will highlight any potential future risks, which could end up costing you time and money later down the line, not to mention the disturbance to staff, clients and business activities. Understand the service charge budgets • Check what will be covered and the amount you will be charged. • Look at previous annual budgets to check whether there have been significant fluctuations in the amount charged. If so, this could mean that the building might have been managed poorly, or that expensive repairs have been charged back to the tenants. • Is there an upper limit cap in place for the service charge; should there be? Comply with regulations – Will the number of people that you are planning to fit in the space comply with health & safety regulations and mechanical & electrical standards?
• Readdressing working patterns and routines can also trigger a culture refresh, boost morale and productivity.
Location, Location, Location • Which locations are you considering? Do your choices fall within budget? • How will your location choice affect your staff? You can’t please everybody – but to retain a key proportion of your team, consider their commuting patterns.
5. Getting Internal Buy-In The Building Moving to a newer building can mean that the workspace is organised in a more efficient way, using space more efficiently and cutting down on running costs. A relocation can provide a more pleasant working environment, both within as well as outside the building with greater amenities for your employees.
4. Getting Bumped Secure your space – Once you have chosen a location that ticks all the boxes, you need to make sure beat the competition to that space!
3. Rethinking Workspace Think about reducing overheads and workplace strategies • Have you considered flexible working, desk sharing and introducing working-fromhome policies? • A fresh take on how people work will impact on how much space is required, which will have a bearing on cost.
MAY 2015
Cheapest isn’t always best – Market conditions mean Landlords can be bullish when negotiating. You might find a situation where putting your strongest offer forward is the best way to secure space, even if it’s above the market level. A poorly planned and executed acquisition process can mean that you might lose out. Preparation and advance planning will speed up the acquisition process.
Speed up – Time is of the essence: current market conditions mean that occupiers are unable to delay. Time spent obtaining Board approval, deciding on whether to progress with a deal, or amending terms at the last minute can allow competitors to bump you out of the way. Think through your decision carefully and stick to it.
Get your people on board – There is nothing worse than nearing the finish mark, and finding out internal barriers are preventing you from completing. Communicate plans internally so that staff know what’s happening • Make sure you have support locally and at HQ level. Has everybody of relevance been consulted at an early stage to voice their concerns and opinions? • Are the relevant stakeholders on board with the relocation, the new location, the financial terms that have been agreed and the length and terms of the lease? Getting the paperwork right: Dotting the I’s and crossing the T’s • Have you checked what the process involves to agree and sign the lease? • Have you thoroughly checked all of the terms of the lease to ensure that there are no unreasonable clauses? • Are there any other HR, legal or compliance matters to consider before moving?
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RETAIL
Henderson Retail invests in a green future
Glen Crumley, Group Energy Manager.
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s one of the most successful companies trading in Northern Ireland, family-run Henderson Group, based in Mallusk, also prides itself on being one of the most environmentally responsible. With 77 company-owned stores across Northern Ireland, Henderson Retail is keeping in line with the entire group’s CSR strategy, Tomorrow Matters, investing in energy-saving technologies and leading environmental change in the convenience sector. Here, Glen Crumley, Group Energy Manager at Henderson Group talks us through the investments and policies in place today to make a better tomorrow.
of a two year £700,000 investment programme, which successfully installed shop floor LED lights into our stores. The strategic decision to invest in these lights, which are proven to last longer than halogen lights, gave us an opportunity to lower our energy usage for the long term and enhance the store environment for the shopper at the same time. “This year we will invest another £750,000 in LED lighting, refrigeration equipment and solar panels for electricity generation. The financial investment made to date is in line with the company’s official energy strategy to increase investment in low carbon energy efficient technologies.
Energy saving targets are set each quarter at all stores. There are staff bonus schemes relating directly to their store’s energy saving performance which is published within the company. It is important that all staff get on board with championing our changes. “Of course these successes are not without their challenges. Being a large company we are privy to green taxes. However, thanks to our investments in change and energy management programmes, the impact of these taxes reduces as our energy consumption lowers.
“For many years our ethos has been about improving our energy efficiency and reducing negative impacts on the environment here at the Henderson Group. In particular, my role with Henderson Retail ensures that our SPAR and EUROSPAR outlets across the country are practising what the company preaches and that tomorrow really does matter.
“This energy strategy has been in place since 2009 with a number of key objectives, namely to reduce expenditure on energy, reduce carbon dioxide emissions and reduce dependence on fossil fuels. In the past six years we have successfully produced like-for-like energy reductions of 24%.
“The future is most definitely green for Henderson Retail. Our stores will continue to be re-fitted with energy saving technologies and products, while the entire Group will continue to set and develop serious targets for energy saving. We hope our next phase of investment will look at further renewable technologies as we feel this is an area that is key to maintaining sustainability in our ever-changing business landscape.
“We are constantly investing in new energy saving products, trials and policies for our company-owned stores throughout Northern Ireland. In fact, 2014 saw the completion
“Energy management programmes have been initiated at each store, with a dedicated rep carrying out the duties of the energy strategy locally on the ground.
“Our customers, suppliers and partners can rest assured that we will continue making strategic plans and targets to yield long term energy saving results.”
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SME FOCUS
Small business of the month: Lawscript
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AWSCRIPT has been providing transcription services across Ireland since 2004. The Ballymenabased company opened in 2004 after managing director Richard Marshall identified a gap in the market.
“As a result support staff must multitask slowing down turnaround times and often creating backlogs. “Outsourcing transcription to Lawscript where we have strict service standards for turnaround means that there are no unnecessary delays in processing audio files.
Lawscript has four staff and a number of freelance typists across the UK providing a variety of formats, fonts and styles to its clients to ensure all requirements are met. Richard said: “Lawscript came about when I was working for an international investment company and had a chance meeting in Dubai with a Scottish lady who had set-up the business in Scotland. “We went into partnership with each other for the Ireland business in 2004 but I bought her out of the business a short time later when she sold the Scottish arm of the company. “Initially the first step forward in Northern Ireland was to run a pilot to see if there was a demand for the service. “The pilot worked well and the business grew from there expanding into the Republic of Ireland also. “Back in 2004 the vast majority of law firms used analogue dictation tape machines and the problem with outsourcing was the physical delivery of the cassette tape but technology has advanced and with digital, audio files can be transferred at the touch of a button.” The business focuses on the legal sector but has clients across a wide range of professions and also types up CVs and dissertations for students along with work for educational
MAY 2015
by Amanda Ferguson
Richard Marshall
institutions such as Trinity College Dublin typing up research projects for PhD courses. The initial capital cost for any client is the purchase of a digital dictation device. Transcription is charged by the minute of dictation received by Lawscript, not the time it takes to transcribe each sound file. Richard said: “At Lawscript we use only trained and experienced staff who take the utmost care in assuring a professional and efficient transcription service. “Outsourcing your transcription service requirements will not only free up valuable office space but will also reduce staff and management overheads, allowing businesses to focus on their own business needs.” The team at Lawscript has witnessed change and growth in the sector since it began operation over a decade ago. Richard said: “Fluctuating levels of work do not allow most small to medium size firms the luxury of a dedicated typing pool.
“Our service provides assistance to firms who are very busy and can assist secretaries with for example typing audio anywhere between 40 minutes to 6 hours without the interference of telephone calls, looking after clients in the office or other things that might crop up. “A typist in-house could command £10-£15 per hour with no restrictions on how long it may take to process the work, however we charge by the audio minute received which means the client knows the cost in advance. “We also operate on a 24/7, 365 day basis so weekend work and evening work makes us a service which can be called upon at any time.” Lawscript recently launched an app to allow people to dictate from their mobile telephone for ease of use. “There are various pre-pay options based on turnaround time and length of audio,” Richard explained. Meanwhile, Ireland and Ulster Rugby player Luke Marshall has just been appointed as a company director to assist with the company profile in the professional market. For more about Lawscript visit http://www.lawscriptni.com
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Legal entity TLT (NI) LLP has been making a name for itself since arriving in Northern Ireland in 2012. We find out what the firm has been up to and what it plans for the future.
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here have traditionally been two distinct types of law firm in the Northern Ireland landscape.
On the one hand, the indigenous, homegrown firm that has a client base made up mostly of companies based in Northern
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Ireland. Then there’s the inward investor, which operates a back-to-middle office function working on business for its clients elsewhere in the world. But since 2012 another type of law firm has emerged in the form of TLT (NI) LLP, the NI
office of leading UK law firm TLT. With the clear intention of building a commercial practice in NI, the firm is focussed on core sector specialisms which include renewables, pensions, banking and real estate. The Belfast office, while a separate legal practice in Northern Ireland, operates under the TLT brand. TLT LLP is headquartered in Bristol and was created in 2000, through the merger of two Bristol firms – Lawrence Tucketts and Trumps. It has grown to six offices in all three legal jurisdictions – England and Wales, Scotland and Northern Ireland.
PROFILE
“We have broadened the practice out to real estate, banking, pensions, energy & renewables, and planning & development proving that we’re not here to do just one thing. This is very much about building a commercial law firm in Northern Ireland, that fits together with the economy here.” And that growth has come swiftly. “We moved faster than we expected because opportunities came our way to grow the real estate function and clients came to us. Like every aspect of TLT, we listen and react to our clients.” So why are those clients arriving at TLT’s door? What makes it stand out?
“The talent pool here in the legal field is hugely impressive. Our people are at the heart of what we do and have helped define and grow TLT in Northern Ireland.”
TLT managing partner David Pester pictured with Katharine Kimber, partner and head of Belfast office.
The firm’s arrival in Northern Ireland wasn’t merely a move to complete that circle, but driven by client demand, according to managing partner David Pester. “We formed a Northern Ireland law firm based on client feedback,” he said. “We saw an opportunity to further develop legal services to banks as well as other work. After establishing the office we then started to provide legal services to businesses in other sectors including renewables, retail and construction.”
MAY 2015
“A major selling point for us is that while we are based in Belfast we have capability across the rest of the UK which, for both Northern Ireland exporters and inward investors, is a great proposition,” David said. “We’re one of a limited number of law firms who are able to offer services in each of the UK jurisdictions in the way we do.”
“We were already active in the rest of the UK so the cross jurisdiction angle was really interesting. We felt there was a real good existing talent pool and recognised that our business model could be evolved around technical expertise.”
TLT’s people are also a major USP.
The firm found a willing market and has grown swiftly over that time. In May 2014, TLT moved into a new 6,533 sq ft space in the heart of the city centre, to support the rapid growth of the office. It now employs 54 people offering a broader range of services.
One of the lynchpins in the business, and one who has been in position since the office first opened, is Katharine Kimber, partner and head of the Belfast office.
“The talent pool here in the legal field is hugely impressive. Our people are at the heart of what we do and have helped define and grow TLT in Northern Ireland.”
For some it could have been viewed as a big step to join a firm that was brand new >
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PROFILE
(L-R): Andrew Ryan, planning & environment partner; Kathryn Forde, real estate partner; Richard Houliston, banking partner; and Katharine Kimber, financial services partner;
to Northern Ireland, but Katharine said it was an easy decision. “I could see the offering we could bring to the market with TLT; it was something new, which would set us apart. I also knew how strong the TLT brand was and it was exciting to be able to get behind it.” From an initial focus on financial services, growing demand for the firm’s services has allowed Katharine to build teams across various legal disciplines, utilising TLT’s size and reach wherever necessary. “The agility of our resource significantly helps,” she said. “Because of the size of our network, we can resource large projects and pull together teams in different specialities quickly. We’re able to bring a UK-wide service to Northern Ireland.” Like David, Katharine has been impressed with the calibre of people that the firm has been able to attract. “We’re really pleased by the quality of people we’ve been able to attract, particularly as a newcomer to the NI legal market. We spend a lot of time investing in the people who join us, so the staff in Belfast are very important to us.”
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According to Katharine, part of the reason TLT has been able to attract such talent is down to the firm’s culture. “We have a strong ethos of support for our employees and an open working environment. TLT really does offer a different working environment to other law firms.” In addition, a strong focus on making sure the firm’s technology is at the cutting edge has helped take much of the administration burden out of the dayto-day running of the business. High tech solutions have also been a big plus when it comes to winning business, again by reducing administration for clients. Something that Katharine said helps set TLT apart from the competition. “The technology makes sure we are providing the very best service to our clients, helping make cost savings for them. Central to everything we do is the client. If we can help them then we’ll make the investment. “We’re easy and straightforward to work with and make sure we work collaboratively
with clients so we can understand their needs and tailor our service accordingly.” It is evident that TLT has enjoyed its first couple of years in Northern Ireland, but how did it find the welcome? “I’ve been impressed by how welcoming the business community has been, even when we were in the early stages of exploring a base here,” David said. “The organisations supporting business development in Northern Ireland were very helpful in giving us a clear view of the opportunity to establish a business in Northern Ireland.” And having firmly established itself here, further growth is on the cards in the future, according to Katharine. “We are taking a very strategic approach to growth and want to be market leaders in our specialist sectors. Each year we’ve been set some pretty challenging growth targets but we’ve managed to meet and exceed those and will continue to do so in the future.” Whilst this might appear to be quite a statement, if TLT’s first few years are anything to go by, then such ambitions will be met.
Flags, firebombs & flashbacks
Export Focus
EXPORT FOCUS
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EXPORT FOCUS
Export checklist Thinking of exporting for the first time or want to make sure you’re already covering the export bases? Here are the key points you need to tick off to help you break into new markets.
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xport is the key to the future prosperity of the Northern Ireland economy.
While many small and medium-sized companies manage to grow in the early stages of business focusing solely on the local market, those with an eye on further expansion need to target markets outside these shores. Worryingly, only 2% of Northern Ireland companies currently export so it should be no surprise that business organisations and government are keen to get more companies involved in the process. But sending your goods and services abroad can be a daunting process so to make sure you cover all the necessary bases, make sure you’ve ticked off all the points from the following checklist from the British Exporters Association. 1. Where are you planning to export? Which are the most favourable destinations for your products considering your local contacts (if any), competitiveness and brand recognition plus also duties and tariffs? Be prepared to visit the market.
MAY 2015
2. Country risks include payment, delivery, documentation, customs clearance, risks of damage or theft in transit. Consider subscribing to exporter references/guides. 3. An export cannot proceed until cleared by customs. It is important that the customs classification of your goods is accurate. Familiarise yourself with Tariff Codes Commodity Codes, Customs Procedure Codes (CPCs) and customs entries. Getting it wrong can be very expensive, either for you or your customer.
“A few hundreds of pounds spent on training key staff in export procedures could well save thousands (or more) in the future.” 4. Understand your responsibilities and obligations for the export customs declaration, even when the customer sends its own freight forwarder to collect goods >
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EXPORT FOCUS
from your premises. When a freight forwarder undertakes the customs declaration on your behalf, give specific instructions as to values, product classifications, record keeping and evidence of export. Check the accuracy of all customs declarations: they are your responsibility. 5. Documentation: accuracy is vital. Never undervalue or mis-declare goods to reduce your customer’s import costs, however persuasive he is. Sometimes you just have to say, “no”. 6. Exports to a destination outside the EU are exempt from VAT (zero rated). However you must prove that the goods have left the EU or you will become liable for the VAT. 7. Goods despatched to other EU countries can be VAT-able at destination – so long as you provide your customer’s VAT registration number and evidence of export. 8. Get trained! A few hundreds of pounds spent on training key staff in export procedures could well save thousands (or more) in the future. 9. Agree terms of delivery – in accordance with Incoterms Rules – that work for you and your customer. Understand exactly what each term really means when it comes to the division of costs and responsibilities. Beware Delivered Duty Paid (DDP): your customer is bound to ask for it at some point and you could become liable for unexpected and unlimited costs! 10. Take care when preparing bids, costings and quotations. Work out and understand the true costs of preparing, documenting and shipping your goods to the place of destination. Also keep in mind costs associated with trade finance and your travel costs. 11. Understand that transfer of (cargo) risk is not the same as transfer of title, and that possession does not mean ownership. 12. Prepare written contracts of sale. Include a clause about dispute resolution, e.g. arbitration, and legal jurisdiction. With exports, if it can go wrong, at some
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Hafen Harbour
stage it probably will. Take legal advice to protect yourself and your company. 13. Don’t forget intellectual property. You may need to protect your ideas and designs, and certainly do not want to infringe someone else’s. 14. If you are shipping standard goods (as opposed to hazardous or unusual sized/ shaped loads), your freight forwarder may provide marine/transit insurance. Ask for cover ‘warehouse to warehouse’. ‘Destination’ Incoterms Rules have the advantage that you control the transit insurance, and, if there is a loss, you negotiate the claim. 15. Payment risk. Most export obligations are ‘open credit’, e.g. payment by simple invoice 30 days from despatch. Establish if your customer is creditworthy before you make a quotation/bid either by obtaining a credit reference agency report or by asking a credit insurer – via your insurance broker – for export credit insurance against the risk of non-payment and to cover country/ political risks. ‘An export isn’t an export until your money is in the bank’! 16. Bank payment security (such as a bank guarantee or Letter of Credit) will be more secure for you but expensive for your
customer who will need to utilize banking lines which may have an impact on its cash flow. It is possible that your products will be more competitive if your customer can pay for them in a manner that suits its cash flow. 17. Look after your cash flow. Winning an order is a huge achievement, but not if it drains your company’s cash. Read BExA’s Guide to Financing Exports, ask suppliers for longer terms, and talk to your bank. Manage currency exposures in case these eat into your profit margin. 18. Be aware of, and treat seriously your responsibilities under the Bribery Act 2010, particularly when exporting to countries where bribery is endemic. 19. Keep records of all customs entries, evidence of export, transport documents, contractual agreements. Ensure documents are easily accessible should you receive a customs audit or if payment from your customer is late. 20. Take advice. Make the most of the knowledge that’s out there, but don’t just blindly believe everything you hear, and definitely not everything you read on the internet. And if you’re still not sure, double check... then check again!
EXPORT FOCUS
Going for growth Gavin Kennedy, the recently appointed Director of Business Banking NI for Bank of Ireland UK says it’s all about growing businesses.
B
ank of Ireland UK’s business is to ensure we play a leading role in supporting sustainable growth for Northern Ireland PLC. We are committed to the Northern Ireland market and we are investing for the long term on the back of our belief and confidence of the growth prospects here.
access to locally based experts. Bank of Ireland’s Foreign Exchange dealers and Trade Finance specialists work closely with customers to help identify and manage any trading exposure the business may be faced with. We combine our in-depth knowledge of our customer’s requirements and our experience to provide the right solution for local business.
There is a welcome increase in business activity in Northern Ireland building on the momentum evident in the second half of last year.
There are many industry initiatives and programmes available to support and encourage more local businesses to think outside Northern Ireland and seek a global reach. Bank of Ireland UK has developed strong business partnerships with industry bodies across Northern Ireland such as the CBI, NIFDA, Invest NI, NISP to name but a few and our partnership with the Northern Ireland Chamber of Commerce “Connecting for Growth programme” has a targeted focus on Cross Border and wider export opportunities.
At Bank of Ireland UK, we approved £600m in new business lending during 2014, a rise of 20% on the previous year and we are seeing continued strong momentum in 2015. This growth in demand is evident to various degrees across all sectors but particularly in agriculture /agri-food and from businesses of all sizes, from major corporate customers to start-ups. It is now about building on the emerging confidence and delivering on our sustainable growth ambitions. Whilst some sectors are offering significant growth potential as a whole e.g. agriculture and agri-food we believe there are growth companies and opportunities across all sectors. That is why we have invested in business managers and business advisers who can support businesses of all sizes in all sectors. Our expectation, which is in line with market opinion, is that those businesses continuing to invest in innovation and technology and an export focus will provide the greatest growth potential for NI PLC.
MAY 2015
Gavin Kennedy
Northern Ireland has seen export sales rise but from an even smaller number of businesses than previous years. From this low base we believe there is an opportunity for rapid expansion in external and export sales growth. Northern Ireland has such a rich heritage in innovation and a proud history of indigenous companies successfully competing on a global scale. Bank of Ireland UK’s experienced and locally-based experts have supported many of these world class businesses including Wrightbus, Lowe Refrigeration and First Derivatives in breaking into export markets. From this experience we see that it comes back to having the confidence and support to do it. Many of the Northern Ireland companies who enter new markets see their products are world class, service levels high and they are very successful. Taking the first steps can be daunting and understanding how to protect your business against the unique risks associated with international trade is vital. This is where the Bank can help. Our approach is based on people doing business with people, ensuring easy business
Through collaborating and aligning resources across key business stakeholders in Northern Ireland, Bank of Ireland UK feels there is a better chance of successfully delivering on the potential that exists. Our people are passionate about business; we want businesses to tell us their story and their growth plans at the earliest opportunity, so that we are in the best place to understand their strategy, support their growth ambitions and develop a close, long-term relationship with our customers. For me it is about engagement, working together and most importantly building confidence. By doing this Northern Ireland has a bright business future. #LetsConnectNI
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EXPORT FOCUS
Ulster Bank: Backing NI’s exporters Richard Donnan, Ulster Bank, discusses the bank’s aim to be number one for customer service, trust and advocacy. This process of building trust to support our exporters involves genuine dialogue with customers and it can be mutually beneficial. It’s why we’re aiming to be the number one bank for customer service, trust and advocacy. The principles behind this are easy to articulate, but sometimes difficult to put into practice. We are doing this by ensuring that the products we offer are easy to understand and fair, and ensure that the process to access them is straightforward so that we fully encourage, develop and support aspiring exporters.
Richard Donnan
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hy does any bank support export? At first glance, it seems like there’s a straightforward answer. Encouraging exporters is a part of local and national government policy. And from a bank’s perspective, a growing, exporting business fits well in any customer portfolio. But the picture is more nuanced than that – the rewards of selling goods and services abroad are balanced by an increased risk of needing new intermediaries to help with buying and selling ‘on the ground’. Are there more reasons for a bank to support export? The skills a bank needs to develop productive business relationships locally – building trust in a customer’s business, long-term thinking, openness to innovation – are analogous to the capabilities companies need to break into export markets. Banking isn’t a purely financial business – assessing risk, reviewing business plans, and spotting an idea that can carve out a profitable niche are in part human judgements. Sharing our capabilities with customers is a good cultural fit, and as a result, Ulster Bank is well-suited to helping customers bridge the ‘trust gap’ in export.
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Practically speaking, there are two strands to how we can best support our customers. First and foremost, it is important to have the right tools in place. Ulster Bank has a suite of products to help meet the challenges of export and support our growing businesses. Helping release money from unpaid invoices, providing payment guarantees, such as Letters of Credit, and assisting with exchange rate management are practical ways of facilitating export business and helping customers better manage the particular risks of export. We are also the only local bank with full membership of the international banking association, IBOS. This membership connects your business with our partners in IBOS, who aim to provide the service you would expect from Ulster Bank, but delivered by a local bank within your chosen market. Secondly, we invest in understanding our customers and the people behind the business, through a dedicated team of relationship managers that are based locally, close to our customers. This helps to build mutual trust so that we can provide honest and productive advice to our customers. Agri-food is just one example of a sector with a strong export focus where we’re seeing this approach working well, and where we’re seeing strong demand for the £1.5bn we’ve made available for business lending this year. The Balmoral Show is always an excellent showcase for businesses in the sector that are demonstrating real ingenuity and creativity in terms of the products they’re developing and the markets they are targeting. Our commitment to all businesses, whether start-up or large corporate in the agri-food and other sectors shows that whether someone is looking to grow their international business or is just starting out, Ulster Bank has the connections and practical solutions to help.
Wherever your business takes you we’ll make sure you have the right team on board.
At Ulster Bank, we have the people, connections and experience to help you navigate new markets. That’s international banking you can work with.
Connect at ulsterbank.co.uk/ international
Help for what matters Important Information Ulster Bank Limited, Registered in Northern Ireland No. R733. Registered Office: 11–16 Donegall Square East, Belfast, BT1 5UB. Member of The Royal Bank of Scotland Group plc. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, and entered on the Financial Services Register (Registration number 122315). Calls may be recorded. Please note that Invoice Finance and MaxTrad are not activities regulated by the Financial Conduct Authority or the Prudential Regulation Authority.
EXPORT FOCUS
A long road to travel Mukesh Sharma tells David Elliott how he’s built Selective Travel Management into the largest independent travel management company in Northern Ireland.
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uilding a successful company in the travel industry can be a tricky business. While it may conjure up glamorous thoughts of faraway destinations, it is an industry where margins tend to be thin and the best laid plans are open to a range of disrupting factors which lie outside the control of even the most organised entrepreneur. Far from being daunted by such challenges, Mukesh Sharma has managed what was his own travel business over 32 years ago to what is now the biggest independent travel management company in Northern Ireland. In addition, Selective Travel Management has made impressive inroads in winning contracts to supply travel to the likes of the University of Newcastle-Upon-Tyne and is also the largest consolidator – the process of supplying flights to travel agents – across the island of Ireland and beyond. This has created substantial employment and investment in Northern Ireland. He manages a team of over 80 travel experts who are dealing with the needs of business customers. It’s a long way from 1982 when Mukesh – an engineering graduate – started the business as Thriftway Travel. A measure of how far the company has come since then is evidenced by turnover which has climbed from £80,000 in that first year of business to expectations for over £30m in the current year.
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He has presented to KLM, which now operates a direct service to Belfast City Airport from Amsterdam, to Turkish Airlines in relation to a direct service to Istanbul from Belfast and to Emirates Airline to sell the benefits of a daily service from Belfast to Dubai.
Mukesh Sharma
That growth certainly wasn’t by accident, but through hard work and a number of astute deals. In 2009 the business amalgamated with McNeill Rigby Travel, which had previously joined forces with Menary Travel, and two years later the business acquired Selective Travel followed two years later by the purchase of Corporate Travel. “We’ve won a substantial number of tenders with the local small and mediumsized businesses, as well as those in GB, and recognise that everything we do is contributing to the economy here by bringing investors in and taking exporters out,” Mukash said. That interest in Northern Ireland PLC extends to the setting up and involvement in the Northern Ireland Forum for Travel and Tourism Industry (NIFTTI) which engages, with the Executive and the tourism industry, amongst other things, in the potential for new air routes into Northern Ireland.
Skills, another central pin of a progressive economy, are also a focus for Mukesh and he is in the process of setting up a training academy for the travel industry in Murray House, one which is expected to tie in with Belfast Metropolitan College. But it’s the business’s own skills in innovation which are impressing customers in new jurisdictions. “Our unique selling point is technology,” Mukesh said. “We invested in excess of £350,000 in software, hardware, training, infrastructure and IT employees last year and it’s paying off. Outside the office, Mukesh also finds the time for a plethora of community involvement. He is Director of ArtsEkta, organisers of the Belfast Mela Festival, a Director of Moving on Music and has just been commissioned as a Deputy Lieutenant of the County Borough of Belfast, an appointee of the lord Lieutenant, the official representative of the Queen for the County Borough of Belfast. That’s quite a responsibility but there’s little doubt that Mukesh has and will be able to translate his success in business into other fields.
Serving clients across the UK & Ireland • • • • • • •
We will always find the perfect travel solution Complete travel management service Efficient friendly trained staff Online booking tool, tailored for your company Meetings, incentives, conferencing and events 24/7 service based in Northern Ireland Experienced and dedicated leisure travel team to manage your personal holidays
Business Line : +44 (0) 28 9096 2000 Leisure Line : +44 (0) 28 9038 9038 Email: corporate@selective-travel.co.uk www.selective-travel.co.uk
ABTA • IATA • ATOL • CAR
Montupet (UK) Ltd secures production of new cylinder head for global market
Jim Burke, Managing Director of Montupet (UK) Ltd in Dunmurry, has announced that the Montupet Group has been successful in winning the contract to produce a new cylinder head for a one-litre petrol engine to be supplied to one of the Global Automotive Companies, and that the production contract has been awarded to the Belfast plant. “I am delighted to announce that Montupet (UK) Ltd has secured this production order with this major customer. It is very good news for the future of the plant and our workforce. The cylinder head, which goes into production in 2018, will secure jobs, and mean a significant investment in new plant and machinery.” This cylinder head will be supplied to an engine plant in Eastern Europe. Alan Malcomson, Product & Process Development Manager at Montupet UK, explained that the order emphasises the ability of the Dunmurry plant to compete in the global automotive marketplace, offering both quality and expertise while remaining economically
competitive: “Montupet’s commitment to investing in training and expanding skills of its employees, embracing new technology and improving processes, enhances our competitiveness and helps safeguard the Dunmurry plant’s position in the international marketplace.” This new business will result in a £8.2m investment at the Dunmurry Plant, will generate £60m turnover over the life of the product and secure over 60 jobs. Montupet (UK) Ltd celebrated 25 years of production at its Dunmurry Plant in 2015 with over 600 employees producing cylinder heads for General Motors, Ford Motor Company and Peugeot/Citroën.
The Cutts, Dunmurry, Belfast BT17 9HN Telephone: 028 9030 1049 Website: www.Montupet.fr
Invest NI’s Chief Executive Alastair Hamilton said: “Montupet UK has worked hard to position itself at the leading edge of casting industry efficiency and excellence. This contract will help to sustain jobs and secure the company’s long term future in international markets.”
Flags, firebombs & flashbacks
Corporate Restructuring
CORPORATE RESTRUCTURING
M&A: activity falls but deal value on the rise The mergers and acquisition market offers one of the most critical insights into the Northern Ireland economy. We take a look at the big deals of the year through Experian’s quarterly report.
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he mergers and acquisition market in Northern Ireland has had a busy start to the year.
Although the latest M&A Activity report from Experian showed the number of transactions dipped slightly, the value of the deals carried out has jumped by nearly a third. A total of 17 deals were reported in the first quarter of 2015, down from 21 during the same period in 2014 but “still well in advance of customary first quarter returns,” according to Experian.
“Trade acquisitions were the predominate deal type, with the interest from abroad that had been a feature of the Northern Irish M&A market throughout 2014 showing no sign of abating.” The value of this year’s deals rose to £175m from just £134m last year, helped in a large part by the £90m divestment of Polycasa, a Dutch manufacturer of transparent plastic
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sheeting to Swiss firm Schweiter Technologies AG by Aventas, the former Quinn Group. Meanwhile, both IT and manufacturing companies have also been busy.
“The country’s burgeoning IT sector saw Londonderry business 8Over8 bought out by larger Cambridge firm Aveva, while acquisitive Newry firm First Derivatives, a capital markets
CORPORATE RESTRUCTURING
software consultancy, looked abroad for growth with the £13m purchase of Prelytix Inc, a Massachusetts-based provider of predictive analytics software,” Experian said. “Trade acquisitions were the predominate deal type, with the interest from abroad that had been a feature of the Northern Irish M&A market throughout 2014 showing no sign of abating. Venture capital interest in Northern Ireland companies is also becoming more apparent with that investment community’s involvement higher than in the rest of the UK. Charles Stanley Securities and Goodbody Corporate Finance shared the top spot as the busiest financial advisors, both from an activity and value perspective, with involvement in two deals each totalling £28m each. PwC was placed third with one deal worth £1m.
“The marked increase in M&A activity which we saw in Q4 2014 has continued apace into 2015. Our expectation is that deal numbers in 2015 will outstrip 2014 spurred on by US corporations taking advantage of the strong US dollar.” From a legal perspective, Belfast law firm Tughans was Northern Ireland’s busiest legal advisor in the quarter with five deals followed by Miller McCall Wylie with two and a number of other law firms who completed one deal each. John George Willis, Head of Corporate at Tughans, said he expected the Northern Ireland M&A market to remain strong in
MAY 2015
the months ahead, helped in part by the stronger dollar. “The marked increase in M&A activity which we saw in Q4 2014 has continued apace into 2015. Our expectation is that deal numbers in 2015 will outstrip 2014 spurred on by US corporations taking advantage of the strong US dollar to buy Northern Irish businesses with leading market share in their sector.” For the UK as a whole, the volume and value of deals carried out fell as buyers erred on the side of caution ahead of May’s general election. There was little surprise that Greater London accounted for the bulk of the deals with 627 announced during the first quarter, down a quarter on the previous period last year. The South East, Midlands and North West England were next most active, but all saw a similar fall in activity. “In fact, deal volumes have decreased in every region of the UK, with the most significant falls recorded in the South West, Wales and Scotland,” Experian said.
“Despite fewer mergers and acquisitions taking place, the value of deals increased in five regions. The most significant upturn was observed in Yorkshire and Humber, where values increased by 63%, and the East of England (55%). However, falls in the total value of deals were seen elsewhere in the UK, with notable drops in the North West and South West.” Pinsent Masons was the UK’s busiest legal advisor in Q1, working on 22 transactions in all, closely followed by DWF (21 deals) and Wragge Lawrence Graham (18). The value rankings were headed up by Herbert Smith Freehills with deals worth £12.6bn, ahead of Slaughter and May’s £10.8bn, the only other firm to top the ten billion mark in Q1. Meanwhile Numis Securities was the highest ranking financial advisor by volume, with 24 deals in all, ahead of perennial contenders Rothschild and KPMG (17 deals apiece). Bank of America Merrill Lynch retained its 2014 status at the top of the value table, working on transactions worth £18.3bn in total.
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CORPORATE RESTRUCTURING
Changing tack How one of Northern Ireland’s most famous companies Harland and Wolff has managed to reinvent itself around its highly skilled workforce.
The Blackford Dolphin oil rig being refitted in Harland and Wolff’s shipyard.
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f you were to try and think of a Northern Ireland company which has managed huge change in an effective manner, then you could find no better example than to turn to the one of the most visibly obvious engineering companies in Belfast. Harland and Wolff’s famous ship-building history has been well documented but, while its high arching yellow cranes Samson and Goliath are a very large signpost to a global industry which was once dominated by the company, stiff competition from countries with lower cost bases – particularly for labour – forced a strategy rethink at the turn of the century. Renewable energy held the key, allowing the firm to make use of its engineering skills and work space in the construction of wind and tidal turbines. And alongside ship refitting, a focus on the oil industry and the refit of oil rigs has also offered a stream of work which has helped build a workforce of nearly 1,200 people.
our core skills, we were able to restructure to mirror the needs of those markets.” Key to the journey was knowing where the business’s talents lie. “There were some wrong turns and dead ends along the way, but by never straying too far from our core skills, we were able to successfully continue the evolution of our capability and capacity, securing and completing bigger and bigger projects.” And because of customer demands, the evolution doesn’t stop. “As the company has re-grown on the back of multiple successful projects, we are again restructuring. Crucially, this is as a result of listening to our customers, to understand their concerns, their constrictions, their ambitions. “If we can help our customer make more money and let them sleep easier at night, we’ll continue to be successful.”
That journey for such a large firm is obviously full of ups and downs for all concerned but if managed well can revitalise the business, said Harland and Wolff’s Sales and Marketing Manager David McVeigh.
As an example of managing change in an effective manner, there can be few better examples, as the current state of perhaps the world’s most famous ship yard can testify.
“If necessity is the mother of invention then restructuring, rather than being an upheaval, can be an opportunity,” he said. “In 2003, we were faced with our core market dwindling to vanishing point. “What we did have in our favour was a dedicated, intelligent and vastly-experienced workforce coupled with good flexible facilities. By working hard to identify the growing or emerging markets that suited
“Today, there are over 1,200 people working in the yard, we have created new markets for our products and services in the offshore markets, be it oil, gas or renewable energy,” David said. “Harland and Wolff Heavy Industries Ltd is once again a major economic force thanks to investment in training, the constant pursuit of innovation and prioritising our customer relations.”
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PLANNING
Planning reform focuses on the community With planning powers now devolved to the new 11 super-councils, Strategic Planning’s David Kerr says the scale of change is an unprecedented challenge for councillors, planning officials, communities and applicants.
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he key principle at the heart of planning reform and the transfer of planning powers to councils has been to place local communities and elected representatives at the forefront and centre of the consultation and decision making process.
engagement approach to applications over the last 10 years. We have managed planning applications and consultation programmes for some of Northern Ireland’s most high-profile developments, including the £120m Lisanelly Shared Educational Campus in Omagh, which involved extensive pre-application community consultation.
The super-councils are now responsible for creating their development plans. Councillors are decision-takers on planning applications, rather than consultees. The luxury of influence with no responsibility has gone! Arguably most important for developers, is the huge statutory emphasis now placed on professionally-managed and transparent community and stakeholder engagement. This is all good for planning and we as a business have championed this pre-app pro-active consultation for many years. All major planning applications submitted after 1st July 2015 must include a statutory pre-application community consultation process, leading to the submission of a preapplication community consultation report alongside the formal planning application. Twelve weeks before submission of the planning application, the applicant is required to provide the planning authority with a Proposal of Application Notice (PAN). This must include details of the pre-application community consultation proposed to be undertaken by the applicant. When the PAN is issued, the planning
MAY 2015
David Kerr
authority will have up to 21 days to confirm if it accepts the proposed pre-application community consultation plan, or if it feels it should be extended to include additional stakeholders. When this is agreed, the applicant can then carry-out the community consultation. Subsequently, formal submission of the planning application must include a detailed Pre-application Community Consultation Report. This report must demonstrate the consultation has been meaningful and show how stakeholder feedback has been considered. If the report is deficient, the Council has the power to refuse to determine the application. Strategic Planning has pioneered an integrated planning and stakeholder
As well as communities, effective engagement with elected representatives is also a key aspect of successful pre-app consultation. This now requires a much more structured approach than before. Councillors who sit on the relevant planning committees are governed by a new code of conduct, which has significant implications for how they are lobbied. Applicants of all descriptions need to be aware of these issues and seek advice before contacting councillors. The key message here is that the new requirements for community consultation mean it is no longer an optional add-on for major applications. To ensure projects are delivered on time and without costly delays, it has to be managed professionally and within the new boundaries of the codes of conduct and practice. All of these changes represent a huge challenge for decision makers and planning applicants. Councils will need some latitude during the ‘bedding-in period’ but no-one is expecting the honeymoon period to last very long!
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ROUND TABLE SPONSORED BY PwC
Are we ready for the power? Northern Ireland’s long-running battle to devolve corporation tax-setting powers has made considerable progress, but the fight isn’t over yet. Now we’ve got it, how do we make sure we make it work? PwC and Ulster Business gathered together some of the leading business bodies and experts to find out how we get the economy primed for low corporation tax.
The participants Paul Terrington, PwC Regional Chair Ann McGregor, Chief Executive of the Northern Ireland Chamber of Commerce Mark O’Connell, CEO of OCO Global Colin Walsh, Chair of CBI Northern Ireland Bill Scott, Executive Director of Regional Business at Invest Northern Ireland Martin Fleetwood, Tax Partner at PwC Northern Ireland Pat Wall, Tax Partner at PwC Ireland David Elliott, editor at Ulster Business
David Elliott: Do we have the right skills in Northern Ireland to take advantage of what may be a big in-flow of FDI and if not, do we have the facilities in place to make sure they are here in two or three years time? Mark O’Connell: This has to be tested on a case-by-case basis. There have been occasions when the system has responded well and has responded quickly, such as the Citi investment. Belfast Met responded quickly in collaboration with the Department of Employment and Learning (DEL) and the requisite skills were developed in time. But I recently heard an anecdote where an engineering company needed welding skills. It took so long via the colleges that they did it themselves.
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Ann McGregor: If you are talking to the likes of Allen & Overy or some of the IT companies, they’ll say the further education (FE) colleges are fantastically responsive and couldn’t be praised enough. But in some areas there’s a challenge around the administration of the likes of apprenticeship schemes, around the longer-term aspects of engineering training. There is actually an engineering working group with a lot of companies in it at the minute, facilitated by DEL, looking at those types of issues.
Paul Terrington: Is it something that is worrying Invest NI? Bill Scott: A lot of the international sell for Northern Ireland is around skills. Along with DEL, we’ve developed the Assured Skills route but the bit where we need to square the circle is education. As the phrase goes “if you build it they will come.” It’s almost as “if you train them in these areas, they will come.” But it’s difficult to get that insight into what inward investment is actually likely to arrive.
ROUND TABLE SPONSORED BY PwC
Paul Terrington: Mark, when it comes to skills, what does Northern Ireland look like from your perspective? Mark O’Connell: We are punching above our weight in financial services and ICT – the knowledge economy. And there is a skills crunch there, we can’t produce them fast enough. But this new sort of tax paradigm presents a different challenge because we have been selling cost centres in the knowledge economy. If we move to re-balancing in manufacturing then some new skills will be necessary. We have not been promoting those other nonknowledge economy sectors as aggressively. The enquiries I see coming into the UK don’t necessarily look at Northern Ireland for life sciences, or food manufacturing and I think that’s a missed opportunity. Paul Terrington: How do we second-guess what we are going to need and then try and sell ourselves as a specialist region, even though we haven’t got the skills in place? Mark O’Connell: We have got to be really, really precise about where we point the finite pool of labour and make sure we build our competitiveness where we have some core assets. I would look at value-added manufacturing. The Northern Ireland Composites Centre is a unique asset which we could build on for advanced manufacturing, related primarily to aerospace. Martin Fleetwood
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Paul Terrington
Pat Wall: This is a discussion which goes on everywhere, talking about aligning the economy with the new world. We have the very same discussions in the Republic, and I don’t see Northern Ireland as significantly different from the rest of the UK, or the rest of the island. We have a pharmaceuticals cluster around Cork, but did we conceptualise that at the very beginning? We might claim we did, but we didn’t. And from my experience at the International Financial Services Centre we started out with a completely different idea as to what that might be, so you have to be agile in the way you respond to the opportunities as they begin to emerge. Paul Terrington: Is it more important to have a flexible education system that will be able to quickly react?
Pat Wall: I would have absolutely no doubt at all about that. With the clients I am dealing with, the large US multi-nationals in the fund administration custody space where technology is a massive part of what they do, they don’t see any separation between here and the Republic of Ireland, except a different regulatory environment. Colin Walsh: Because our education system and curriculum development didn’t have very much of a road map about where the economy was going, we have tended to react to inward investment on the basis of the deal flow. Then these guys have to run about and go, where are we going to get 50 of these, or 100 of those? Nobody has been able to predict what we’ll need in the next three to five years. We are reacting to what the >
Ann McGregor
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businesses need but who is informing those 15 or 16 year olds what is coming down the track? The careers education is still not working.
Bill Scott
Bill Scott: We have carried out some work on the ICT side, more in terms of making courses accessible, making them shorter, making them more attractive. I think the real positive here is we do it. No-one would have anticipated after the financial technology conversation that Belfast would be up there with Edinburgh and Dublin and London. Paul Terrington: One of the pieces that we are really starting to succeed in nowadays is where people set up businesses themselves to serve the foreign direct investors that are emerging. The educational bit is a bit broader than just skills, it’s something about entrepreneurialism and that we don’t see FDI as the end point around that, rather as a catalysing effect for people to have an opportunity to start businesses. Pat Wall: When you come across an opportunity on the foreign investment side, they don’t necessarily expect you to have all the answers, but they want to know that you can get them and you have enough hunger to get there pretty quickly. That takes a lot of really hard work. And we need to make business part of the DNA of the people so they get behind the business world. A few years ago when the Republic was under pressure from the
EU about our low corporation tax, you could have had that conversation with any taxi driver in Dublin. Paul Terrington: When we talk about the challenge in the educational system, is there something more that we in the business community could do? Is there something that can be done to get careers guidance more firmly on the agenda and to instil it into students and parents at an earlier stage? Ann McGregor: I actually think we need to by-pass the existing system. Pat Wall
Colin Walsh IoD and the Chamber have the membership. So here is a proposal – an alliance of the business organisations which takes the message from the member firms and goes straight into the classroom and say, “here’s what life’s about and here’s what our trade does, here’s the qualifications you need and here’s what these careers look like.” Mark O’Connell: I have just been at an investment conference in the US led by the Federal Government, and the big debate there is around millennials (people who reach the age of 18 by 2000). They have a huge influence on where projects go, where FDI goes, and they don’t necessarily want to work in Wall Street, or in the City of London, or in established centres. This millennial generation is determining futures and flows and opportunities for foreign investment. And Belfast, like some other sort of second-tier cities, is somehow quirky and cool in that context. Twenty years ago the IFSCI Dublin was a really cool product. We need a product, and we need to build it from within, and a product that is globally relevant. Bill Scott: A lot of this presupposes that you know what sort of investment you are going to get as a result of corporation tax. I think we have still some work to do in terms of looking at what will be attracted to Northern Ireland with a lower corporation tax.
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rent allowance, all that kind of stuff which was thrown in there in the early days just to stimulate the whole thing.
Colin Walsh
Colin Walsh: Because of what we said earlier about how society and the politicians are weak at recognising those things and then designing solutions for it, it’s going to fall more heavily on the business community to put models up and say, look, here’s how this big log-jam could be broken. It might just be that the DETI and our friends in Invest NI are looking at interventions (since the roundtable was held, Invest NI has announced it will explore “whether mezzanine or equity finance to developers on commercial terms would act as a short-term intervention which would stimulate the development of new grade A office accommodation”) that they can make that would help with that. Colin Walsh: If we can get across it would be a huge step forward. I really like this concept of doing without any government intervention. I don’t want to be a prisoner to them owning the process. David Elliott: What about our infrastructure? Is it fit to take in an influx of inward investors? Colin Walsh: I am not sure where Bill is going to put any of these inward investment projects because there’s no grade A space left to house them. That’s a pretty basic one, unless you are going to put them in the street. It’s a very good example of how our radar is so near-term that we just watched the available office space evaporate without doing anything about it. Where do we think we are going to put people that need 50,000 or 100,000 square feet of grade A office space? Bill Scott: The price isn’t enough for developers to build grade A office space. How do we change that? Martin Fleetwood: What the public sector buys office space for sets the rate for the market. And nobody is building because, as well as incurring the build costs, you have on-going rates costs until the building is occupied. Some suggestions include a possible rates holiday for speculative new
MAY 2015
builds. The Business Premises Renovation Allowance, only gives you the write-off if you are converting or refurbishing a building which has been vacant for 12 months. If we could create something like that, coupled with things like rates relief, it may provide an incentive.
“When you come across an opportunity on the foreign investment side, they don’t necessarily expect you to have all the answers, but they want to know that you have enough hunger to get there pretty quickly.” Pat Wall: I would echo that. It is often forgotten that part of the mix in the Republic of Ireland was so-called designated areas. The International Financial Services Centre itself was a designated area right in the centre of Dublin, where there was a lot of property breaks, including rents relief, double
Martin Fleetwood: A lot of London financial service operations are also investors in property through pension funds, etc. Is there some linkage there between a company coming to Northern Ireland both as an investor in property and also as the occupier of the property? Mark O’Connell: I have seen a lot of precedent for that across the water in the Cardiff Central Business District. It’s designated as an Enterprise Zone so there are a lot of sorts of rates and holidays and incentives and they are using that to attract major insurance companies, banks, middle office and back office to under-write the development costs. Manchester Airport is another example. Ann McGregor: There are 24 Enterprise Zone models in England whereas we have one. They are all different models and we should be looking to see what we can learn from them. David Elliott: Do you think it is realistic that after all this negotiation about corporation tax cuts that we can also then start a conversation about an Enterprise Zone or something similar? Do you think that is asking too much? Colin Walsh: I think we need to because on its own the tax cut will deliver nothing if we don’t do these other things. >
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Pat Wall: I have numerous examples of getting this answer from Government “Oh well, you have the 12.5% tax rate”, as if that’s it. You do have to be brave and push back and say well if you want me to make use of the 12.5% tax rate, you need the enablers that will make that. Because a low tax rate is only relevant if you have a profit. And Government has to be reminded of that. Colin Walsh: So we are in danger here actually, that if it kicks in in April 2017 on the expected terms, if we haven’t got the facilities for people to come through, if we haven’t got staff for them to hire, or the other packages, we are going to have to take the hit on the block grant and we will get what in place of it? There is already going to be a lag so we need to get the finger out now. Bill Scott: Again that assumes that none of that work is already starting, but we are looking at property issues, we are looking at skills. It is trying to get a handle and get the evidence as to what we are likely to attract. I think we just need to be careful that whilst we don’t want to go too slowly, we don’t want to race on ahead and build something based on a set of assumptions as to what we are going to attract. Paul Terrington: Northern Ireland’s high energy costs have come up in the discussions around infrastructure. Is it an issue?
Mark O’Connell
Ann McGregor: For us, energy does come up a lot. We do an economic survey and energy was the number one barrier to business expansion. And that’s why we are lobbying hard for the manufacturing rates relief to stay because it counters some of the challenge. For the major users, like Michelin and the like, it’s really a big deal. Mark O’Connell: It’s a mix of all of the above almost. We do need to get more research and evidence around how many of those are we likely to attract? Which doors can we knock on? And I come back to the point that if you go out without a ‘date and a rate’ then the conversation is a Ulster Business’ David Elliott
very different conversation. That’s not a very strong proposition to go out with. David Elliott: How do we make sure inward investors create jobs that will actually boost our productivity? Bill Scott: We are opening ourselves up to a lot greater potential in terms of the spread of investment we can attract and our feel is that it will take us up the value chain. It will allow us to go for higher end manufacturing jobs that we haven’t been able to go for. It will allow us to go for maybe not big global headquarters, but the European headquarters of smaller businesses with higher paid jobs within those headquarters. So again it’s moving away maybe from back office processing through to a higher skillset based here in Northern Ireland. Pat Wall: I have to say there is nothing surprising in any of the conversation that I have heard here this morning. Bill, your points about trying to, let’s call it ‘define the target’, comes up all the time. You never get that 100% right and you don’t wait, you get on with it, because it’s often surprising where the momentum comes from and then you dive in behind it. As soon as you get momentum in a certain direction throw everything behind it and don’t worry about the strategy. My main observation on this is that none of the issues that you are tackling here are significantly different.
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PROFILE
Name: Philip Rainey Position: Chief Executive, Simple Power
A word from
The Wise How did you start out in business? I decided not to play sport professionally, so I went to Queen’s where I studied for an Honours Degree in Engineering followed by a Masters in Civil Engineering and Computer Science. My first position was with Arthur Anderson & Co (now Accenture) where I got a great grounding in all things business. I transferred to industry and worked my way up to Operations Director within the construction and manufacturing sector after a period as a business consultant and mentor. I switched to renewables in 2012 when I joined Simple Power. What did you find the most challenging during your years in business? For me, it took a while to discover exactly where I wanted to go with my career and how I could utilise my skills effectively within a challenging environment. That’s why I’m pleased that I found the opportunity with Simple Power. I saw wind energy as an area of growth and knew it had a lot of potential to benefit our local economy and help provide a home-grown energy supply. It was an opportunity to use my skill set to help a young company in a relatively new industry get to the next level. How would you describe your management style? I would describe my management style as being open, honest and direct. I try to lead by example and manage people the way I like to be managed myself. Every business is only as good as its team; everyone has their own role to play and, if they play it well, the whole company succeeds. It is important to have the right people in the right positions, utilising their combined skill set to work
MAY 2015
The column with an ear for experience...
towards a common goal. As management expert Jim Collins puts it: “Get the right people on the bus, the wrong people off the bus, and the right people in the right seats.” I try to encourage and appreciate the differences amongst my team. What would you change if you could go back and do it all again? Over the years I’ve discovered I am a people person so, if given the chance again, I would study harder, listen more and train to be a doctor. Have you done it all on your own? No, in every role I’ve had and within every company I have ever worked for, I have always benefited from the experience and guidance of a mentor. This was often my line manager or a more mature senior colleague in a different department who guided me along the way. I’ve also been lucky to have great teams around me who encourage and inspire me on a daily basis. How would you like your business career to be remembered? Currently, I have so much going on in my role it’s difficult to properly contemplate how I would be remembered. However, simply put I’d like to be remembered as a good guy who achieved a lot and set an example. What piece of advice would you give the 20-year old you? Learn as much as you can and get as much experience as possible. Stick with it and believe in yourself!
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REVIEW
Business
Breakfast
With Michael Murphy, Chief Executive of Irwin’s
The column which doesn’t have time for lunch
B
eing able to say we’re breaking bread with a man whose business is focused on baking bread is a happy by-product of this month’s Business Breakfast. Regular readers of this column – knowing how far we’ll go out of our way to make a catchy piece of copy work – will perhaps think we came up with the phrase and then found the interviewee, but we’re not that calculating, nor indeed organised. Our subject this morning, however, is extremely well organised, what with the responsibility of making sure customers from as close to home as Northern Ireland and as far afield as China are able to enjoy a slice of baking tradition. Having already partaken of his breakfast (a growing theme in this column) as a form of continuous product testing, Irwin’s chief executive leaves it up to Ulster Business to scoff. What else could your scribe plump for other than a couple of slices of Irwin’s finest brown toast? We were dining in Café Souk, the eating arm of Studio Souk on Belfast’s Castle Lane. It describes itself as “an open-plan creative studio and retail space”, which is essentially a place for artists and creative types to work and also to sell their goods, and is the second site for owner Linzi Rooney. It’s run by her partner Mark Graham and, although it’s hard to judge on the basis of a
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couple of slices of toast – mighty fine toast, but toast nonetheless – the warmth of the welcome and the diverse selection will have this diner coming back for a proper try.
White, and brown, pan loaf is still a big seller, as is the eponymous Nutty Crust, a Northern Ireland staple which seems to have developed its own cult following.
Anyway, back to the maker of the bread which became the toast, which became my breakfast, Michael Murphy.
While these breads sound traditional in nature, Michael said Irwin’s success has been driven through a process of innovation which helps the company to react to changing consumer trends.
As the man at the top of one of Northern Ireland’s biggest bakeries, he’s got a lot on his plate, from ensuring the smooth running of the Portadown facility to making sure it’s customers at home and abroad are getting to enjoy their daily bread. He’s been in the company for 15 years – following spells with exceedingly good cake producer Mr Kipling and Kerry Foods – initially in sales before becoming commercial director in 2010 and chief executive last year, and knows the company inside out. It was Michael who helped Irwin’s on its way to becoming one of Northern Ireland’s Top 100 companies, driving sales to UK and Ireland-wide supermarkets, particularly through the Rankin Selection brand. The tie-up with celebrity chef-cum-formerBelfast restauranteur Paul Rankin has proved a successful one for Irwin’s having opened up the delights of potato, wheaten and soda bread to the GB market to such an extent that 36% of the company’s sales head outside Northern Ireland nowadays Most heads to GB, some to a hungry ex-pat market in Spain, some to China and some to the US, amongst other destinations.
The importance of innovation is something the company has been well aware of over the years, as evidenced by its fortified pan bread developed in 2000 to counter a known deficit of folic acid amongst the Northern Ireland population or its low GI bread launched around 2006. Nowadays, smaller pack sizes to cater for the dwindling number of people in the average household are one such innovation, the creation of the – frankly mind blowing – sliced Veda, its Sandwich Skinny and the purchase of family bakery Howells Homemade, which has broadened the offering to cakes and biscuits, are just some of the others. With this approach, Michael’s sure of a bright future for the Portadown company. “Bread will see a resurgence in the next couple of years and we’ll continue to be at the forefront,” he said. There’s a man who knows where his bread is buttered.
David Elliott
Flags, firebombs & flashbacks
Executive Motoring
By Pat Burns
Sponsored by
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EXECUTIVE MOTORING
Are we finally getting the message?
?????
New Focus RS heralds new performance era for Ford
Whilst browsing through social media last week I came across a harrowing image of a car which had collided into the back of a lorry, the image was horrific but the supporting caption really hit home. “The driver was found holding his mobile phone with an unsent text message in his right hand; his head was found in the back seat” Powerful message but it got me thinking; surely in 2015 this still can’t be happening. So I’ve done a little research and thankfully I came across some good news. Fewer drivers were punished for using mobile phones last year in the UK, police figures suggest. The number of drivers given penalty points for using a mobile device at the wheel fell by 24% in 2014 and by more than 40% from 2010-14.
What we also have to bear in mind, is these statistics do not tell the full story we must consider that many drivers are also being sent on educational courses by Police forces in lieu of fixed penalty points/fines. Education on road safety issues should be a consideration for any company which runs vehicles.
One of 12 new performance vehicles Ford will bring to customers globally by 2020 in a new era of Ford performance, the all-new Focus RS features the innovative Ford Performance All-Wheel-Drive system and a specially engineered 2.3-litre EcoBoost engine.
What this tells me is that the message is starting to work, texting while driving is irresponsible. Being behind the wheel you have responsibility to not only yourself but to all other drivers on the road. As business owners you have a responsibility to manage anyone who drives on behalf of your company. Before all journeys make sure you have planned your route, allowed enough time and have all the information needed before your meetings this will help you resist the temptation of sending that “stuck in traffic” text . Keep your phone in the glove box or somewhere else because out of sight is out of mind.
Ford Performance All-Wheel-Drive with Dynamic Torque Vectoring delivers a new level of handling capability and driver enjoyment, combining outstanding traction and grip with unmatched agility and cornering speed. The high-performance hatchback’s EcoBoost engine shares its fundamental structure with the all-aluminium four-cylinder engine in the all-new Mustang. This engine has, however, been significantly upgraded through a comprehensive package of design changes to deliver a projected output well in excess of 320PS.
If you are unsure of your responsibilities as company owner or company car driver please feel free to contact RossMoffett@fleetfinancial.co.uk for your free guide to ‘legislation, risk and the company vehicles’.
The all-new Focus RS also introduces advanced performance technologies, and is the first Ford RS equipped with selectable Drive Modes – including an industry-first Drift Mode that allows controlled oversteer drifts – and Launch Control.
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F
ord’s all-new high-performance hatchback, the Focus RS, will appear in early 2016 and will be the first ever Ford RS vehicle to be sold in the U.S.
Developed by a small team of Ford Performance engineers in Europe and U.S., the new Focus RS is the third generation of Focus RS cars, following models launched in 2002 and 2009. The 30th car to wear the legendary RS badge, the Focus RS will be built in Saarlouis, Germany from late this year.
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EXECUTIVE MOTORING
Audi Q3 revised
T
he latest incarnation of Audi’s compact SUV features an even sharper new look, more equipment and a more efficient EU6-compliant engine range. Whether in SE, S line or top flight S line plus specification, the premium character of the redesigned Audi Q3 is apparent at first glance. The design with its couplike lines and characteristic wrap-around tailgate has been lifted further by a striking new 3D effect Singleframe grille, revised bumpers and new look alloy wheels. The full body-colour paint finish which was previously standard for S line versions and above also now extends to SE models. The revised headlights now feature xenon bulbs and LED daytime running lights as standard in SE versions, and these are complemented at the rear by reworked LED tail lights. S line and S line plus specification levels upgrade to all-weather LED headlights and dynamic ‘scrolling’ rear indicators which illuminate sequentially within twotenths of a second from the inside out in the direction the driver intends to turn. Under the skin, the two TDI clean diesel and three TFSI engines at the heart of the first wave of new Q3 models not only boast higher power outputs and improved fuel economy, but also CO2 reductions of as much as 17 per cent and compliance with EU6 emissions regulations. A new star in this line-up is the 1.4-litre TFSI petrol engine with Cylinder-on-Demand technology which appeared first in the A1 and A3 ranges and makes its Q3 debut here. With 150PS and the option of either manual or S tronic twin-clutch automatic transmission, it gives the front-wheel-driven Q3 1.4 TFSI a 0-62mph sprint time of as little as 8.9 seconds (S tronic) and yet also enables
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it to return up to 50.4mpg (manual) based on the combined cycle test. Above it in the petrol line-up is a 2.0-litre TFSI unit with power increased from 170PS in the outgoing Q3 to 180PS, which can be linked to either manual or S tronic transmission and is allied to quattro all-wheel-drive without exception. The third petrol unit – a sonorous 2.5-litre five-cylinder TFSI – is reserved for the RS Q3, and its 30PS power upgrade to 340PS helps to drop its sprint time from 5.2 to 4.8 seconds. Economy nevertheless remains impressive considering the performance potential – up to 32.8mpg is achievable according to the official tests. Forming the diesel contingent are two four-cylinder TDIs with outputs of 150PS, up from 140PS in the equivalent previous generation Q3, and 184PS, up from 177PS. The 2.0-litre TDI SE with 150PS, manual transmission and 17-inch alloy wheels is the efficiency standard bearer in the TDI camp. It benefits from a boost of over 7mpg compared with the outgoing 140PS unit and shaves 18g/km from its CO2 total to give economy
potential of up to 61.4mpg and emissions of just 119g/km. The comparable S line version with its 18-inch alloy wheels is only just behind at 60.1mpg and 122g/km, and both also record 0-62mph times that are 0.3 seconds quicker than their predecessor at 9.6 seconds. The 2.0-litre 150PS TDI engine can work with either manual or S tronic transmission and can channel its output through either the front wheels only or through all four with the help of the quattro system. The 184PS version also offers two transmission options, but deploys its heightened power and torque solely via quattro drive. The chassis of the redesigned Audi Q3 combines agile handling with supreme safety, and further fine-tuning for the latest versions has enhanced comfort even further. The Audi drive select adaptive dynamics system which was previously offered at extra cost is now fitted as standard, and enables the driver to adjust key technology modules, including the optional damper control system, to suit his or her personal preferences. Prices start from £25,340.
Think
Bespoke FOR CONTRACT HIRE THINK FLEET FINANCIAL
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EXECUTIVE MOTORING
Maserati hits 100 in style...
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urrently celebrating their 100th anniversary, Maserati are embarking on a aggressive campaign of new models over the next few years that should see the Modenabased manufacturer increase its sales from a figure of 6,000 per year in 2011/12 to 40,000 by the end of this year. The latest addition to the range is the all new Ghibli which includes the first ever diesel powered Maserati but next year will see a new SUV, the Levante, unveiled and 2017 will see a new sports coupe, the Alfieri, taking on the 911 and Jaguar F-Type. Fiat Chrysler Automobiles, who own Maserati have realigned their ranges. Fiat, Alfa and Chysler will contest the world market in the up to €50,000 range, Maserati will be priced from €50,000 to €150,000 and Ferrari will take the €150,000+ market. The introduction of the all-new Ghibli marked a milestone in Maserati’s heritage, as for the first time in its modern history the company has offered two concurrent four-door saloon models. The Ghibli is smaller, shorter, lighter, more dynamic, less expensive and more economical than the flagship Quattroporte and provides
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a cornerstone in Maserati’s plans. Its petrol range provides high performance from both of the power outputs from the twin turbo-charged, 3.0-litre V6 petrol engine. The Ghibli has a more-focused, sportier philosophy than the larger Quattroporte and its most powerful model, the Ghibli S, 410hp of power, races to 62mph in 5.0 seconds and stretches out to a top speed of 177mph. The Ghibli is also the first Maserati in history to be powered by a diesel engine, with a turbo-diesel V6 producing all the sound, refinement and driving pleasure typical of Maserati while delivering fuel consumption over 47mpg on the combined cycle. The Ghibli diesel will also become the first Maserati with Start-Stop technology. It shares much of its core architecture, including its crash safety, chassis, suspension architecture, engines and LED headlight technology, with the larger Quattroporte, though it is 90kg lighter, 173mm shorter in the wheel base and 291mm shorter overall. The Ghibli’s design team was challenged to produce a saloon that emphasised its more dynamic driving characteristics through a more aggressive visual personality, yet still maintained discernible visual links with the Quattroporte.
Inside, the Ghibli sets itself apart from the Quattroporte with a unique dashboard design that perfectly matches its sportier and more youthful character without losing any of the luxury expected from Maserati. The Ghibli also delivers a sporty design combined with all the spaciousness expected in an executive saloon from Maserati. The Ghibli, Ghibli S and Ghibli Diesel all utilise an eight-speed automatic transmission to deliver their performance, providing seamless comfort with fast gear shifting for hard acceleration. All Ghibli models deliver exquisite handling thanks to their perfectly balanced weight distribution, a double-wishbone front suspension and a state-of-the-art fivelink rear suspension. It can now deliver the added security and all-weather assurance of all-wheel drive as well. The original 1963 Quattroporte invented the concept of the luxury sports saloon and continues to be the genre’s benchmark. Now the Ghibli offers all of the Quattroporte’s qualities in a more dynamic, and more affordable package. Prices for the Ghibli Diesel start at £49,160.
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Think
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EXECUTIVE MOTORING
X marks the spot...
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he all-new Fiat 500X is a crossover not only in terms of vehicle segments, but also in terms of its potential customers. With two distinct flavours on offer, there is a 500X to suit every need and taste: One is designed to appeal to those with a fun-loving, spirited, metropolitan outlook available in Pop, Pop Star and Lounge trim levels, and another, more rugged version has been designed with stylish, active adventures in mind with four wheel drive available on some versions. The 500X is available with a broad range of powertrain options. Front-wheel drive, petrolpowered models are either equipped with a 110hp, 1.6-litre “E-torQ” engine with a fivespeed manual gearbox or a 140hp 1.4-litre Turbo MultiAir II petrol engine with a newgeneration six-speed manual gearbox. The allwheel drive petrol model, which is equipped with a first-in-class, nine-speed automatic transmission as standard, is powered by a 170hp, 1.4-litre Turbo MultiAir II engine. The front-wheel drive diesel range consists of the 95hp, 1.3-litre MultiJet II turbo diesel, equipped with a five-speed
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manual gearbox, and the 120hp 1.6-litre MultiJet II turbo diesel equipped with a six-speed manual gearbox. The fourwheel drive diesel option is the 140hp 2.0-litre MultiJet II turbo diesel, which will be available with a six-speed manual or nine-speed automatic transmission. The new nine-speed automatic transmission is a first not only for Fiat but also for the crossover segment in which the 500X competes. This new, electronically-controlled transmission features advanced shift management to combine optimum driving pleasure with efficiency, while also offering the possibility of switching to manualsequential mode. The 500X’s four-wheel drive system it drives adopts a fuel-saving rear axle disconnection system that seamlessly switches between two- and four-wheel drive for full-time torque management without requiring input from the driver. Ground clearance for all-wheel drive versions increases to 179mm compared to 162mm for front-wheel drive models. It is also equipped with specific bumpers and protective skid plates to protect the bodywork and mechanicals from the rigours of off-road use.
In addition, the latest active safety systems are available to improve handling and assist the driver, including sophisticated ESC (Electronic Stability Control) and DST (Dynamic Steering Torque) systems, which improve both driving safety and handling performance by actively correcting over and understeer. DST is completely integrated into the vehicle’s ESC system and intervenes to correct potentially dangerous situations caused by excessive deflection angles or instability due to poor wheel grip. ESC with DST; ABS with EBD; ERM (electronic rollover mitigation); Hill Start Assist; ASR (traction control); MSR (gearshift engine torque management); electronic parking braking, TPMS (tyre pressure monitoring system); front fog lights with cornering illumination (excluding Pop); automatic windscreen demisting (excluding Pop) and six airbags are all standard as part of the 500X’s safety package. Pricing for the 500X will range from £14,595 OTR for the 1.6 E-torQ 110hp in Pop specification to £25,845 OTR for the 2.0-litre MultiJet II 140hp AT AWD Cross Plus.
The new BMW 6 Series
The Ultimate Driving Machine
THE NEW BMW 6 SERIES. REVEALED.
Raising the bar in luxury and performance, the new BMW 6 Series range, comprising Coupé, Convertible and Gran Coupé, is the discerning driver’s choice. Agile and athletic, its elegant new lines create a powerful presence on the road. What’s more, the sumptuous interior is lavishly appointed with high quality materials and innovative new features, offering a sophisticated driving experience. The only way you can appreciate this for yourself is to take one out for a leisurely test drive.* For more information and to book a test drive in the new BMW 6 Series Coupé, Convertible or Gran Coupé, please call us on 02870 355222 or visit www.jkcbmw.co.uk
JKC Specialist Cars
1-9 Milburn Road Coleraine Northern Ireland BT52 1QS
Official fuel economy figures for the new BMW 6 Series range: Urban 22.2-45.6mpg (12.7-6.2l/100km). Extra Urban 40.4-57.6mpg (7.0-4.9l/100km). Combined 31.0-52.3mpg (9.1-5.4l/100km). CO2 emissions 213-143g/km. Figures may vary depending on driving style and conditions. *Test drive subject to status and availability.
APPOINTMENTS
Kate McCusker has joined Cleaver Fulton Rankin as a solicitor in the Planning & Environmental Law department. She has wide experience of contentious and non-contentious planning law. Anna Magee has been appointed Construction Project Manager at Gaelectric Developments Ltd. Anna manages Gaelectric’s onshore wind farm construction programme in Northern Ireland and the Republic of Ireland. Marco Bianchini has been appointed Project Engineer - Operations & Maintenance (Belfast) at Gaelectric Developments Ltd. Marco is responsible for developing Gaelectric’s wind forecasting capability.
Cathy Noade has been appointed Business Development Executive – Food to Go at Henderson Foodservice. She will be focused on growing and developing business within Food to Go sites. Sara Rafferty has been appointed Business Development Executive – Food to Go at Henderson Foodservice. She will be focused on Developing Food to Go sales within the Spar estate in Counties Tyrone and Fermanagh. Tina Murphy has joined Henderson Foodservice as Business Development Executive. She will be focusing on developing new business and growing existing accounts in the north Belfast area.
Clare Guinness has been appointed Director for Corporate Services at Fane Valley Group. She will be responsible for M&A activity, corporate governance, board administration, human resources, health & safety and marketing/ communications. Francis Shields has been appointed as Head of Professional Practices at Grant Thornton Northern Ireland. Francis will have a varied client base, but will specialise in advising businesses with partnership structures. Michael Barnett has been appointed Audit Director at Grant Thornton in Northern Ireland. Bringing with him 18 years’ experience, he specialises in advising Owner Managed Businesses across a range of industry sectors.
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APPOINTMENTS
Mark Beckett has joined Ulster Grocer as sales manager. Mark boasts an impressive background in newspaper and digital sales, with the Belfast News Letter, Belfast Telegraph and latterly Yell. Rory McCurry has joined Lanyon Communications as an Associate. Rory will work alongside the partners at Lanyon Communications to provide strategic corporate communications services. Jeffrey Harrison has been appointed Regional Mortgage Manager for Bank of Ireland UK in Northern Ireland. Jeffrey has over 25 years’ experience in mortgage management, sales and service.
Maggie McQuiston has been appointed by Bank of Ireland UK as Head of Customer Advocacy for Northern Ireland. Maggie has extensive experience in customer service management and operational change. David Ramsey has joined Bank of Ireland UK as Branch Manager of City Hall, Belfast. David successfully completed the HSBC Graduate Management Trainee Scheme in 2009 and has since held a variety of management positions. Claire McKee has joined JPR as a Junior Consultant. Claire spent 18 months working in a marketing role for one of Northern Ireland’s largest utility companies before joining JPR in April 2015.
Una Bradley has joined the international development organisation Concern Worldwide in Belfast as Senior Fundraising Data Analyst. She was previously a Systems Development Manager in Charles Hurst NI. Alistair Smith has been appointed as Business Advisor at LEDCOM (Local Economic Development Company) based in Larne. He will be working closely with LEDCOM’s customers, partners and stakeholders. Marsha Tuffin has been appointed Manager of Care Home & Dementia Services at Abbeyfield & Wesley Housing Association. Marsha is responsible for Care Home provision.
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PHOTOCALL 1. Charities across Northern Ireland are being encouraged to enter the new Charity Achievement Awards announced this week by Lloyds Bank Foundation for Northern Ireland as part of its 30th Anniversary celebrations. Launching the new awards are Foundation Executive Director Sandara Kelso-Robb and Chairman Tony Reynolds. 2. Rainbow Communications has announced a three-year kit sponsorship deal with Mid Ulster Ladies Football Club. Pictured at the announcement is Stuart Carson from Rainbow Communications and Dame Mary Peters who were joined by Elaine Junk, Clare Charles and Claire Rooney of Mid Ulster Ladies Football Club.
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3. Northern Ireland business leaders stepped into the kitchen recently to raise money for the IOD (NI) Charity of the Year, Northern Ireland Chest Heart and Stroke. Competitors joined restaurateur Michael Deane in a Master Chef-style challenge at Belfast Cookery School along with Paul Terrington, Chairman of the IoD, and Sinead Magill of Northern Ireland Chest Heart and Stroke. 4. A Coleraine opticians and hearing centre has invested £350,000 in relocating to larger premises in the town centre in response to community demand for its services. Joanne Torrens, audiologist and store director of the new Specsavers (left) and Lynn Mackey, store director, Specsavers, Coleraine. 5. Slim’s Healthy Kitchen staff (L-R) Ryan Jenkins, Colin Andrews, Ben Canning, Claire Scott and Barry Barrett with Cancer Fund for Children’s Sorcha Chipperfield at the launch of the charity partnership between the two organisations. The staff have also formed a relay team for this year’s Belfast Marathon.
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PHOTOCALL
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6. Local drinks company Antrim Hills Water has secured a new contract with Asda which is worth an estimated £70,000. Pictured L-R are Peter Geary, Managing Director of Antrim Hills Water, and Susanna Hassard, Regional Buying Manager for Asda NI and Scotland. 7. April marked the start of new careers in software testing for four participants of the 2014/15 Software Testers’ Academy who are on the Autistic spectrum, and who recently celebrated their success in securing job roles with leading IT sector employers at the Software Tester Academy. The Software Test Academy group are pictured with Minister Farry and Sharon Didrichsen from Specialisterne (far right, front row).
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8. Niall Gibbons, CEO of Tourism Ireland, Diane Butler, Tourism Ireland’s manager Australia, and Jim Paul of Tourism Ireland at the launch of Tourism Ireland’s new three-year strategy to boost tourism from Australia, at the Fitzwilliam Hotel Belfast. Picture by Brian Morrison.
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9. Power NI were crowned Northern Ireland winners of The Prince’s Trust Million Makers Corporate Challenge 2014 after generating £34,500 over just six months. Pictured are Imelda McCoy and Ken McCracken, Power NI, with (right) Susie Cuthill, Partnerships Executive, The Prince’s Trust. 10. Gordon Devenney of O’Donnell O’Neill Designers, is pictured with Supervisor, Georgia Smyth and Eve Wallace, the Manager of Miel et Moi, Northern Ireland’s first ever licensed patisserie which is set to open next month on Belfast’s Lisburn Road.
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PHOTOCALL 11. Betterhomes sales manager Stephanie Braniff is joined by David Boyd, director of Betterhomes alongside model Lucy Evangelista announcing the 36.6% growth figures which have been attributed to the addition of the bathroom, bedroom and kitchen divisions.
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12. Printing and packaging specialist Priory Press is set to quadruple the size of its operations and create five new jobs when the company relocates to a new factory in Conlig. Part of the investment was funded by Danske Bank. Mark McConville, Managing Associate of Priory Press, with his father Ernest McConville and Oonagh Murtagh, Head of Finance Centre at Danske Bank. 13. Pictured at the Irish Times InterTradeIreland Innovation Awards Ceremony 2015 at Belfast City Hall was Anthony Brabazon from UCD presenting the IT & Telecommunications award to category winners Joanna and Jose Calixto from Nautilus NI Ltd. Picture Conor McCabe.
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14. Warrenpoint-based CTS Projects Ltd has secured a ÂŁ4m maintenance contract with Abacus Housing Consortium. Launching the new maintenance contract are (L-R) Serena Hylands, Senior Contracts Manager CTS Projects; Founder and managing director of CTS Projects Ltd, Connaire McGreevy; and Mark Campbell, Clanmil Housing Association. 15. Sisters Frances and Rhonda Jardine own and operate The Bottom Drawer, a Portadown gift, homeware and fashion emporium, which has been shortlisted for UK Gift Retailer of the Year in the North England/ North Ireland category at The Greats Retail Awards for 2015.
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PHOTOCALL 16. James Finnigan, Commercial Director of the Irish Open and Jason Hempton, Commercial Director – Branded Products, Dale Farm – celebrate Dale Farm’s sponsorship of The Dubai Duty Free Irish Open, hosted by the Rory Foundation. 17. From L-R: Norah Canny, Limavady Campus Manager; Dr Danny Laverty, Head of School for Science and Technology, North West Regional College; Nick Cullen, Gaelectric’s Operations & Maintenance Manager; and Hugh Logue, Gaelectric Board Member. Gaelectric, the renewable energy group, and North West Regional College have joined forces to launch a Construction and Renewable Energy Scholarship scheme.
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18. Ann McGregor (NI Chamber of Commerce), Caitriona Toner (American Airlines), Robert Kennedy (Caterpillar NI), Minister Arlene Foster and Brenda Morgan (British Airways) at the NI Chamber of Commerce’s Minister on the Move event in Larne. 19. Action Cancer’s Geraldine Kerr (Head of Professional Services) and Gareth Kirk (Chief Executive) pictured at the Irish Institute of Training & Development (IITD) award ceremony where the charity picked up the accolade of “Best Learning Organisation in the Not for Profit Sector” in Ireland. 20. Pictured launching Mervyn Stewart Škoda’s sponsorship of the NI Football League are (L-R) Crusaders midfielder Declan Caddell; Mervyn Stewart Škoda Managing Director Stephen Stewart; and Linfield player/ manager Warren Feeney.
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PHOTOCALL 21. James Huey (left), owner of Walled City Brewery, is pictured in his Ebrington Square-based brewery with North West Regional College Food Technical Consultant Brian McDermott. The college provides business consultancy services to local small businesses.
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22. Over 700 young engineers from schools across Northern Ireland attended the ‘Sentinus Big Bang Ballymena’ exhibition held at the Braid Centre. Samantha Craig, Belfast Model School for Girls pictured with her Sentinus Team R&D project, a Pylon Bird Deterrent System which has been developed in partnership with NIE. 23. Pictured is (L-R) Rory and Shane Byrne, owners of Modern Tyres, with mentalist David Meade and Group General Manager, Charles Corscadden at the announcement of Modern Tyres’ forthcoming Dublin acquisition as the group marks 50 years in business.
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24. Jonny Cook, Managing Director of Peninsula Care Services, Northern Ireland’s leading domiciliary care, nursing and recruitment agency is creating 50 new jobs, bringing workforce to over 200 people. Pictured with Jonny is UTV’s Pamela Ballantine and Peninsula staff Tina Sharpe, Neil Armstrong and Matthew Campbell. 25. The new Folkstown Market in Belfast’s Bank Square is expected to boost the economy in the area as it draws crowds every Thursday. Pictured at the new market are L-R: Philip Gallagher, Javaman Coffee; Sophie Rasmussen, Folkstown Market; Phelim Sharvin, Ulster Community Investment Trust; and Frankie McCourt, Invest NI.
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Exclusive VIP Reader Fashion Event at Victoria Square
Fashion Made Easy with Victoria Square Thursday 4th June 2015
Location: AM House at Victoria Square (above Wagamama) Northern Woman has teamed up with Victoria Square to offer our readers complimentary access to a series of exclusive workshops on:
• Solving your problems 1.00 pm • What to wear where? 6.00 pm • Adapt the trends for you 7.30 pm Tickets are limited and to gain access to this exclusive event please call Northern Woman on 028 9078 3200.
Keep an eye on our facebook page for futher information.
EVENTS
Canapés and cocktails The cream of the last month’s business events. JKC Specialist Cars hit 40 Coleraine-based JKC Specialist Cars marked the official opening of its new BMW showroom in Coleraine with a party that brought together everyone who has helped make the business a success over the last 40 years. JKC’s staff and their valued customers were greeted by a collection of classic BMW’s ranging from the BMW 8 Series through to the innovative Z1 which sat alongside the current M3 and M4 convertible in one of the most modern automotive retail facilities in the UK. And the partygoers were also treated to a fantastic cookery demonstration by the renowned TV chef Neven Maguire, followed by music and dancing into the night.
Bob Jordan, Director of BMW Financial Services; Graeme Grieve, MD BMW Group UK; Jack Cassidy of JKC; and Robert Frame, Regional Sales Manager for BMW.
George Gardiner, Stephen Shaw and John Jenkins.
James and Gladys Greer with Jack Cassidy of JKC.
Chef Neven Maguire signs his book for Yvonne Moody and Emma Hutchinson.
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Robert Frame of BMW with Pauline McGale and Lisa Doherty.
EVENTS
Bank of Ireland breakfast briefing Bank of Ireland (UK) held a breakfast briefing for corporate clients at the Europa Hotel in Belfast last month. Economist Alan Bridle dissected the potential impact on the UK and Northern Ireland of different General Election outcomes.
Ian Sheppard, Mark Nodder and Howard Hastings.
Economist Alan Bridle.
Shaun Moore and Claudine Heron.
Peter Sandford and Dale Guest.
Paul Lindsay and Carol Shields. Colm Moane, Colin Alexander and Andrew Hayes.
Liam Dempsey, Jack Dobson and Paul Magee.
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David Mulholland, Edward Carson, Charlotte McCann and Lorraine Montgomery.
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TECHNOLOGY
Talking tech
By Adam Maguire
Jawbone Up3
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awbone was one of the pioneers of modern wearable technology – but its delayed Up3 now finds itself in a very different market.
The first Up hit shelves in late 2011 – at a time when very few others were offering such high-tech fitness trackers. For its latest iteration things are a bit more competitive, however, with nimble start-ups and giants like Google and Apple alike all trying to capture a piece of the market. But the Up3 has a strong list of features which it hopes will help it stand out from the crowd – from the regular activity tracking, to advanced sleep analysis and advice on heart health. It has no screen, so all of this data is sent to an accompanying app which users can consult for ‘smart coaching’ and other analysis.
In practice, though, the device does not really do much more than Jawbone’s lower-priced alternatives – never mind what its main competitors have to offer. As a result it’s hard to see why people would fork out the extra few pounds in order to have one. The Jawbone Up3 has a RRP of around £150.
Logitech MX Master
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high-end computer mouse is traditionally the preserve of committed PC gamers – but Logitech hopes its MX Master will appeal to tech savvy power users too.
With edges like a stealth bomber, the device is hardly comparable to the bog-standard mouse tethered to most computers – and it certainly packs a much wider array of features. With the MX Master, Logitech promises better scrolling – so users can speed through long documents – as well as a thumb wheel, which lets users access a range of extra functions without taking their hands away for a second. This mouse is built with high-end users in mind, and is designed to switch between multiple screens and devices with ease. The reality is, though, that its impressive functionality is well beyond what most office workers could ever need. The Logitech MX Master has an RRP of £80.
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TECHNOLOGY
Preview – LG G4
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G has skirted around the edge of the Android market with solid devices but relatively lacklustre sales – its new G4 is an attempt to steal the limelight from a struggling Samsung.
Boasting a 5.5” screen, the G4 is yet another big beast in the smartphone world. Unlike those from Apple and Samsung this screen is slightly curved, though, which the company says makes it far less likely to break when dropped. That aside the G4 has a 16mp camera, 32GB internal memory and the latest version of Android – Lollipop 5.1. It also comes with an array of back covers – from brushed metal to luxurious leather. On paper it looks like a very attractive device – its interface also looks user friendly, while its connection to the Android network should make it an easy sell to Samsung and HTC users. But LG has had good devices in the past and has still struggled to gain momentum amongst buyers – it will hope this will change in the months ahead. The LG G4 is due to go on sale on 28 May.
Ikea chargers
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kea has always offered a novel approach to design – but it’s rarely thought of as a provider of cutting edge technology. Its wireless charging range is a simple attempt to bridge those two worlds. An increasing number of devices – generally smartphones but also tablets and smartwatches – are now offering wireless charging as standard. In cases where a device does not have the feature built-in – like the iPhone – users can even buy special cases to add the functionality. The idea seems a tad gimmicky but it can prove handy – though it still requires another vital power-point being taken up and the charging points are just another piece of clutter to put on your bedside locker. With its wireless charging products, Ikea tries to solve these problems by embedding the wireless charger into the base of a lamp or a table – cancelling out the need for a separate unit. Many of the items also has a USB port, so a second (non-wireless) device can be charged at the same time. Items in the Ikea wireless charging range cost between £30 and £85.
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BUSINESS TRAVELLER
Drew Beckett, CEO of BeckettHanlon Worldwide Property Franchise greatest support in my life. If you’re single, then a very loud alarm clock is a must. What’s your favourite App for passing the time? Again, my iTunes is my greatest resource but, as a man of faith I also have the Bible readily accessible on my iBooks App. Have you ever unexpectedly run into someone you know from home in a far flung destination? Whilst in the Blue Note Jazz Club in Manhattan, I bumped into my friend Paul Hopley. What do you enjoy most about working internationally? As most of our sales are international, closing the deal and seeing another delighted client is what pleases me most. What’s your favourite city/country in the world and where has disappointed you? My absolute favourite is Hawaii. Just perfect and indeed romantic. Sardinia tops my list of places not to revisit. What do you look for in a good hotel? A comfortable bed, free unlimited wifi, absolute cleanliness and the best of unobtrusive customer service. How often do you travel and why? I travel abroad every month to meet with new & existing international property developers as part of our due diligence process. As a Board member of the Association of International Property Professionals (AIPP), I travel often to London to attend meetings and conduct business with our international property lawyers. Other than your phone, what are the three things you couldn’t do without when travelling for work? My iPad, toothbrush and, as my son Darren is the drummer with Brandon Flowers , I always have their music on my iPod. Have you found a good way to work while you are on the move? My iPad keeps me readily accessible and up to date and a good coffee shop, with free wifi, is my second home. What would be your top tips for anyone embarking on a job that involves a lot of travel? An understanding partner or significant other is essential. My wife keeps me looking presentable and professional and is the
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What’s the best hotel you’ve stayed in? Definitely the Dorchester in London. Have you worked out a way to avoid jetlag? That solution has eluded me. Do you speak any languages and if so, have they been of use on business trips? Regrettably, none. Where in the world would you most love to work? No debate... Manhattan! Where are you off to next? I head off to the Costa Blanca in early May, with one of our clients, to finalise his purchase of a stunning new apartment in the lovely town of Dona Pepa. It is right by the beach and south of Alicante. Every client of BeckettHanlon knows that when they buy abroad through BeckettHanlon, they buy abroad safely.
TRAVEL
Airport apprentice lands full-time employment
Island hopping
Travel website TripAdviser runs down the best island holiday destinations around the world.
Administration Apprentice, Tara McGuinness with Belfast City Airport Chief Fire Officer Seamus MacMahon and Firefighter Trainee, Neal Rice.
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he career prospects of two Belfast youths are set to soar thanks to George Best Belfast City Airport’s ‘High Flyers Apprenticeship’ scheme.
Through Workforce Training Services, Tara McGuinness has joined as an Administration Assistant whilst Neal Rice, from Springvale Employment and Learning Solutions, will achieve a childhood dream by training as an onsite firefighter. Neal’s coveted apprenticeship will result in full time employment at the airport’s Fire Department following successful completion of the required qualifications. Neal said: “I’m thrilled that Belfast City Airport has taken me under its wing for this amazing opportunity, particularly as employment opportunities across the fire service are so far and few between. I feel so lucky to have been given this opportunity and am very grateful to everyone who has taken the time to show me the ropes.” In the next six months the airport will invest further in Neal’s training through his completion of medical care, emergency response driving and emergency water rescue courses. Seamus MacMahon, Chief Fire Officer at Belfast City Airport and Neal’s mentor, said: “At the airport we are extremely passionate about supporting and investing in the wellbeing of young people here in Northern Ireland. Training with the fire service requires dedication, hard work and skill, all of which Neal has demonstrated so far and we really are delighted to have him on board.” Aidan Sloane, Chief Executive of Springvale Employment and Learning added: “We’re completely blown away that Belfast City Airport accepted one of our clients for its highly prestigious apprenticeship scheme, not least in such a unique, hard to come by role. We cannot thank the airport enough for their support and truly look forward to working with the team in the future.” For more information about the George Best Belfast City High Fliers Apprenticeship Scheme, supported by DEL, visit www.belfastcityairport.com
MAY 2015
Providenciales, Turks and Caicos, Caribbean – average nightly hotel rate for 2015: £343 For a great highly rated mid-range hotel option, bookable on TripAdvisor at an average of £264 per night, consider Grace Bay Suites, with a 4 out of 5 average bubble rating and 173 reviews on TripAdvisor. Once on the island, don’t miss out on a visit to Grace Bay and Sun & Fun Sea Sports. Maui, Hawaii, United States – average nightly hotel rate for 2015: £230 For a great highly rated mid-range hotel option, bookable on TripAdvisor at an average of £234 per night, consider Aston Mahana at Kaanapali, with a 4.5 out of 5 bubble rating and 1,470 reviews on TripAdvisor. Once on the island, don’t miss out on a visit to Ka’anapali Beach and Wai’anapanapa State Park. Roatan, Bay Islands, Honduras – average nightly hotel rate for 2015: £136 For a great highly rated mid-range hotel option, bookable on TripAdvisor at an average of £125 per night, consider Cocolobo, with a 5 out of 5 average bubble rating and 420 reviews on TripAdvisor. Once on the island, don’t miss out on a visit to West Bay Beach and Blue Harbor Tropical Arboretum. Santorini, Greece – average nightly hotel rate for 2015: £138 For a great highly rated mid-range hotel option, bookable on TripAdvisor at an average of £168 per night, consider Enigma Apartments and Suites, with a 5 out of 5 average bubble rating and 665 reviews on TripAdvisor. Once on the island, don’t miss out on a visit to Skaros Rock and Sunset in Oia. Ko Tao, Thailand – average nightly hotel rate for 2015: £58 For a great highly rated mid-range hotel option, bookable on TripAdvisor at an average of £59 per night, consider Chintakiri Resort, with a 4.5 out of 5 average bubble rating on TripAdvisor and 301 reviews. Once on the island, don’t miss out on a visit to Sai Nuan Beach and Apnea Total.
95
SPORT
Back of the net – where business and sport meet
JN Wine
Giants
Award-winning wine supplier, JN Wine, has produced its own brand of champagne for this year’s DubaiDuty Free Irish Open, hosted by the Rory Foundation. James Nicholson from JN Wines (front) is pictured with Barry Funston from the Rory Foundation and Kit Gartrell from the European Tour.
Northern Ireland’s tourism industry will get a major boost this autumn when some of the future stars of American ice hockey come to Belfast, according to The Odyssey Trust. Pictured at the launch event in Boston is Stephen Hagwell, ECAC Hockey Commissioner, Eric Porter, Chairman of the Odyssey Trust, Lord Mayor of Belfast, Councillor Arder Carson and Joe Bertagna, Hockey East Commissioner.
Rugby
JD Sport The Kennedy Centre has recently welcomed three new retailers. Card Factory and JD Sports have both acquired new units with a further national brand to be unveiled in the coming weeks. Ryan Kee, Director of Retail Agency at Lambert Smith Hampton is pictured with John Jones, Centre Manager for The Kennedy Centre.
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TO PLACE A CLASSIFIED ADVERT CONTACT ULSTER BUSINESS ON 028 9078 3200
96
Ulster Rugby has renewed its Summer Camps sponsorship deal with local convenience store group Centra. Announcing the sponsorship deal is Centra’s Jennifer Morton and Ulster Rugby’s Business Development Manager, Philip Polack.
TECHNOLOGY
TOTAL FLEET MANAGEMENT ANY VEHICLE, ANY MANUFACTURER
Business Diary
June 2015
date
event
venue
COntaCt
02 June 09:00 - 13:00
Intellectual Property for the Digital Industry Organiser: InvestNI
InvestNI, HQ, Belfast Cost: FREE (including lunch)
Contact: colin.graham@investni.com Further information: www.events.investni.com
02-04 June 12.30 - 14.00 (daily)
Super Connected Master Classes Organiser: Belfast City Council
Various Venues, Belfast Cost: FREE
Contact: economicdevelopment@belfastcity.gov.uk 028 9027 0482 Further information: www.belfastcity.gov.uk/events
04 June 18.30
Business in the Community Awards Organiser: BITC
Waterfront Hall, Belfast Cost: For details contact marie.atcheson@bitcni.org.uk
Contact: marie.atcheson@bitcni.org.uk T: 028 9046 0606 Further information: www.bitcni.org.uk
05 June 09.00 - 11.30
Breakfast Bytes Organiser: i3 Digital
i3 Digital, Dargan Road, Belfast Harbour Estate Cost: FREE
Contact: markl@i3digital.com T: 028 9044 7800 Further information: www.i3digital.com/Event
10 June 10.00 - 12.30
Managing Performance Organiser: Labour Relations Agency
Labour Relations Agency Head Office, Belfast Cost: FREE
Contact: T: 028 9032 1442 Further information: www.lra.org.uk
12 June 09.00 - 11.00
SME Finance Clinic in Partnership with Keys Finance Organiser: SME Centre, Ulster University Business School
The MAC, Belfast Cost: FREE
Contact: e.quinn@ulster.ac.uk
16 June 08.30 - 11.00
Getting the Construction Industry Online Organiser: CITB NI
CITB NI, Nutts Corner Training Centre Cost: FREE
Contact: alison.mcclean@citbni.org.uk T: 028 9082 4223 Further information: www.citbcsni.org.uk
18 June 08.30 - 11.00
Making Business Better Masterclass Organiser: Women in Business NI
Fujitsu, Belfast Cost: £10 + VAT for Members £25 + VAT for Non-Members
Contact: laura@womeninbusinessni.com Further information: www.womeninbusinessni.com/ events
18 June 10.00 - 11.00
CITB NI Employer Information Event Organiser: CITB NI
Waterfoot Hotel, Derry/L’Derry Cost: FREE
Contact: events@citbni.org.uk T: 028 9082 5466 Further information: www.citbni.org.uk
If you would like to promote an event or conference please contact Sonia Armstrong (soniaarmstrong@greerpublications.com)
MY DAY
Uncovering the 9-5
grant of my client’s planning permission brought by some local residents. It is a complicated and contentious case. This morning it is only an administrative hearing. The parties have to update the court on the progress of the case including the submission of expert evidence. I meet briefly with Counsel and discuss the case and the matter is then heard before the Judge.
10.30am It’s back to the office to make a few calls, send some emails and provide an update to the client about the outcome of the court hearing this morning.
11.00am I am meeting a client and their expert team of planning consultants, roads engineers, environmental consultants and one of my colleagues from the procurement team. It’s in respect of a multi-million pound development. The client is in the process of preparing a planning application. I am advising in respect of the legal obligations imposed by the Environmental Impact Regulations and making sure that the application complies with all the necessary requirements. It is often the case that a little bit of legal advice at an early stage can ensure that an application goes through the planning process much quicker and the risk of challenge is much less. Name: Maria O’Loan
12.30pm Position: Partner at Tughans
Back at my desk to return some telephone calls and emails before heading out for another meeting.
1.00pm 6.00am The alarm goes off. I usually hit snooze at least once! I am training for my very first IronMan in July, which I am doing to raise money for the Northern Ireland Children’s Hospice. That involves a 2.5 mile swim, followed by a 112 mile bike ride and topped off with a full marathon of 26.2 miles. I am very new to triathlon, as I only learned to swim two years ago – it’s quite a challenge! I am training around 15 hours per week at the moment which means very early starts and often training twice per day. Today is a pool session first thing.
I am the current chair of the Environmental Planning Law Association of Northern Ireland and we have a meeting over lunch time to plan some educational events coming up.
2.30pm I am meeting a client ahead of an interview under caution with the Northern Ireland Environment Agency. My client has been accused of the illegal deposit of topsoil from his construction site. I have met him previously and so understand the circumstances of the case well.
4.00pm I leave the house before 6.30am and cycle to the pool for around 7.00am. This morning I have a 3.5km swim set to do.
9.00am I arrive at the office and generally have breakfast at my desk and check my emails and my diary for the rest of the day. I have a quick chat with my secretary and my colleagues to discuss the day ahead and make sure that everything is in order.
I am back at my desk and I am reviewing some papers in respect of the financing of a biomass system and providing advice to the client on whether the proposal meets all the necessary planning and environmental requirements.
5.00pm I am reviewing some planning consents in respect of a site that a client is buying and writing a report in respect of the consents.
9.45am
6.30pm
I leave the office to go to the High Court. I am representing a client in a major Judicial Review in respect of a challenge to the
I leave the office and head to the gym to do a run on the treadmill and cycle home.
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