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Issue 05
C H E S T E R | L I V E R P O O L | W I R R A L | N O R T H W A L E S
Are you sitting on your company’s most valuable assets
IP: Are You an Ostrich or a Peacock?
09
How will new electric innovations shape our future?
Are Trends Electric?
06
Make Way for Maverick Thinkers
18
A new approach to emerging technology
Is this the Me, Me, Me generation?
Why Millennials Matter To Business
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From
In conversation with Sharon Hilditch, MBE
How she’s taking her Crystal Clear brand global.
LiverpooltoL.A.
ChesterGorse Stacks HouseGeorge StreetChester CH1 3EQ
LiverpoolExchange StationTithebarn StreetLiverpool L2 2QP
WirralNo. 1 Hamilton SquareBirkenheadWirral CH41 6AU
North WalesDeeside Enterprise CentreRowleys Drive, DeesideFlintshire CH5 1PP
What does good management look like?
7 Stages of Man(agement)
10CONTACT:
T: 01244 318131 E: [email protected] www.hillyermckeown.co.uk/hm-magazine
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This issue of HM Magazine is my first since being appointed as Group Managing Partner. Part of my role is to ensure innovation is at the
heart of everything we do and that is behind the makeover of the latest HM Magazine. Inside you’ll find information to help you and your business succeed, from exploiting your IP to embracing emerging technology and retaining talent. But you’ll also find something else. The stories will continue online; so visit the digital edition for regular developments. Your feedback is welcome, especially if you’d like us to include a particular topic next time. For now, whatever your next step: Make It Happen.
HM Conversation
HM Spotlight
HM Life
Lindsey Kidd, Hillyer McKeown Group Managing Partner
In this issue
Welcome
3
04 Key Stages in Business Growth and How to Get Them Right A guide to getting it right first time
06 Are Trends Electric? How will new electric innovations shape our future?
08 Ready Steady Take Off When to promote and when to hire?
09 Intellectual Property (IP) Are you an Ostrich or a Peacock? Are you sitting on your company’s most valuable assets?
10 7 Stages of Man(agement) What does good management look like?
12House of Straw or BrickAdvice for planning your future
14 Conversations with My Younger Self Ian Wade looks back at the wisdom he’s gained over the decades
16Mind the Age Gap How age diverse is your workforce?
17The Long & Winding (Financial) Road Alternative ways to fund business growth
18Make Way for Maverick Thinkers A new approach to emerging technology
20From Liverpool to L.A. How Sharon Hilditch MBE is taking her Crystal Clear brand global
26Time and Technology Waits for No-one The impacts of technology in the development of digital banking
24Biggest ChallengeWhat’s the biggest challenge facing businesses today?
283 Reasons Why Millennials Matter To BusinessIs this the Me, Me, Me generation?
22 Chester is Leading the WayThe 7th Fair featuring leading UK and international artists
314 Great Venues for Doing Business Eat, meet and drink
32Cheshire Phoenix What the club did to rise from the ashes
Contributors
Design and Art Direction
Articles
Photography
USP Creative, Liverpool
Sharon Hilditch, MBE, Crystal ClearIan Wade, Roberts & Wade Restaurants LimitedGavin Sherratt, MashboSteve Barber, Bridging Finance SolutionsShirley Anne O’Neil, Deepbridge Chester Arts FairMark Timperley, Cheshire Phoenix Basketball ClubLesley Hooks, Lesley Hooks Estate AgentsDavid Roberts, Polyroof Products LimitedAngela Wood, ETC TaxNikki Edge, Edge TransportAndy Pimbley, Claremont FarmFiona Shaw, Wordscapes
USP CreativeChester Arts FairDavid Harper, artist and presenterCheshire Phoenix Basketball ClubSteve BarberFiona Shaw
HM Magazine is produced by Hillyer McKeown LLP. Information is correct at the time of printing © Hillyer McKeown 2018.
Thank you to the following for their contribution:
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If you would like to ask one of our specialists about any of these topics, please email [email protected]
HM Conversation HM Conversation
HM Magazine Looks at Key Stages in Business Growth
and How to Get Them Right.
Hiring your first employeeOnce you are ready to hire your first employee, take steps to ensure you stay on the right side of the law. First, remember that you are growing (potentially doubling your workforce if you are working on your own) and about to become an employer. Regulatory steps include registering with HMRC and getting up to speed with legislation on hiring and firing. There is a wealth of information available at: gov.uk/employing-staff. Also consider speaking to an employment law expert if you have any questions specific to your business. It will be a good investment in the long term.
Of course hiring works both ways. Make sure it is clear about how the new role fits into your business, what changes the new responsibility will bring and what you expect from your first employee; expanding your business is also a great opportunity to share your ambitions with someone else. Justine Watkinson - Head of Employment Law
Planning to sell your businessIf you are seeking to exit your business take professional advice as early as you can, before looking for a buyer and beginning marketing. If the necessary steps are not taken to get the business ‘oven ready’, then the price could be adversely affected. Well prepared succession planning takes at least a year and will maximise your return. Preparation includes a legal audit, and making sure compliance and due diligence are covered. Contracts should be watertight for employees and suppliers, leases, policies and maintenance agreements etc.
We advise clients that planning can never start early enough; by doing so there will be no ‘skeletons’ to uncover to reduce the sale value of the business, costs can be managed over a longer period and be more tax efficient.Anne Scheland - Head of Corporate Law
Leasing commercial propertyTake professional advice before signing off on a set of heads of terms. The small print is crucial to make sure you are protected and not at a tactical disadvantage down the line. For example, the options offered by a fixed date break clause compared to a rolling break clause. The former may offer limited options when transferring premises as a new landlord may take advantage of your limited timeframe to move. The latter can offer you protection and the flexibility to move within an agreed time frame.
HM has helped manufacturing companies in particular to negotiate a good deal on new premises. When you are ready to expand into larger premises, you can give notice to move at any point and work to a deadline which suits you.
Some people choose to negotiate terms themselves which is fine as long as there is an understanding that once these are signed off, it is difficult to go back a step and renegotiate.Caroline Jones - Head of Commercial Property
Handling disputesConsidering terminating a contract? Stop! Small print in commercial contracts, including standard terms and conditions you may not have digested fully, frequently trips up business owners. If you terminate a contract in breach of its terms, you could find yourself in a time consuming and expensive dispute which could lead to lengthy litigation. Always seek legal advice first. Spending an hour with a lawyer is an investment in your business which could save tens of thousands of pounds of legal costs later on. An even better investment is to seek legal advice about contract terms, including termination provisions, before entering into new contracts. An experienced lawyer can help you negotiate favourable terms, or ensure that your own standard terms apply, ‘future proofing’ your business for years ahead. Fiona Blakeborough - Head of Commercial Litigation
Getting it right first time
Andy Pimbley is a director of Wirral’s Claremont Farm, and drives a Nissan E-NV200 van.
“Nissan got involved with our festival, Farm Feast, and gave me an electric van to try,” he says. “I literally fell in love. I was a real sceptic beforehand – but it’s nippy, and there are no emissions. In eco mode I can see exactly how efficient it is and our customers love it – it fits with our zero packaging, zero food miles ethos. And it’s certainly cheaper than running a diesel van.”
At a local level, electric vehicles tick all the boxes: reliable charging facilities, shorter travel distances and cheaper prices. But we’re waiting for the national grid to catch up – if we all went electric tomorrow, it’d likely fall over.
Different charging operators in different regions also means things are distinctly less convenient once you leave the comfort of your private infrastructure.
“It’s perfect for local deliveries, but I’m wary of running out of juice,” agrees Andy. “I wouldn’t feel confident taking it outside Merseyside – you can see how quickly it drains on the motorway doing 60mph. I’ve looked online at charging points, but you have to register; it’s confusing. You can’t just pop to a garage and plug in, and even the quickest recharge takes half an hour. But for local trips, or the school run, it’s win-win.”
Nikki Edge, a director of family logistics company, Edge Transport based in Deeside comments, “I drive a Nissan Leaf 2.0 so already appreciate the significant benefits of electric vehicles and can envisage a time in the not so distant future where we no longer use diesel heavy goods vehicles.
“We have trialed alternative fuel vehicles and registered our interest in Volvo electric heavy goods vehicles. Accessible EV charge points and infrastructure needs to develop for electric vehicles to be truly viable for commercial use. We will continue to watch the marketplace with interest!”
While renewable energy remains an issue to be cracked reliably and at scale, there’s hope. Holland’s Solar Team Eindhoven has combined solar panels with an electric car to create the Stella Vie – a solar-powered family car that also supplies energy to the grid.
Closer to home, smart meters were introduced in 2012; a way for consumers to ‘take control’ of their energy use. In June 2018, a panel of MPs warned about delays to the £11bn roll-out, soaring costs and suggested that the average annual saving was just £11 – around a third of that touted by the energy industry. While they increase awareness, the jury’s out on their impact on costs.
Use of increasingly-efficient electricity sources – from low energy LED lights to micro-grow food in our cities, or hyperloop’s magnetic levitation and electric propulsion for high-speed travel – will change our approach to the way we live and work. Energy – and how we produce and store it – will be the fuel of future innovation.
As prices rise, reducing consumption and costs are key to planning. But buyer beware, businesses. If you’re buying a new car, or planning a new fleet, local looks good for electrics, while long distance looks like a longer term challenge.
HM Conversation
ARE TRENDS ELECTRIC?How will new electric innovations shape our future?
By Fiona Shaw
As more manufacturers bring out electric models, the buzz around electric cars is growing. The government / automotive partnership Go Ultra Low’s calculator showing that 100% electric cars cost on average 3p per mile to run – compared to 9p for a diesel, or 12p for petrol – makes electric look enticing.
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Fiona Shaw is the founder of Wordscapes, publisher of Ethos magazine, and contributing editor to the Business Tribune.
Fiona specialises in writing accessible, engaging business stories for clients regionally, nationally and internationally, and work across a range of publishing projects.
www.wordscape.org.uk
HM Conversation
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HM Conversation HM Conversation
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Before assessing the cost and benefits of promoting versus hiring, it is useful to step back and look at the wider picture in terms of your short and long term strategy.
Time to promote?For an existing employee, would they relish a potential role change or the prospect of acquiring new skills? Cost out the investment needed for training a team member, and consider providing incentives for their loyalty. Loyalty is seen as a significant factor in favour of promoting someone your business has already invested in, and increases staff retention (it is estimated that replacing an employee can cost over £30K).
Also, hiring externally can be demoralising for existing employees who might feel overlooked, or under valued when someone is ’parachuted’ into the team from outside – an established employee might also start looking elsewhere for a job.
Time to hire?For a new recruit, as part of your recruitment strategy is there a strong case for bringing in a new hire to give you an edge over your competitors? For example:
• introducing particular skills or innovation• new knowledge or experience• encouraging a shift in culture• strategic change in direction• bringing a fresh and objective perspective.
External recruitment can be costly in terms of time and money, and not everyone new settles in and adapts to a new culture or different systems. This can have a detrimental effect if you have paid recruitment costs and invested the time in welcoming the new colleague into the team. Estimates suggest that a new recruit can take up to two years to get to know a business and reach full productivity, and recruiting and training middle managers can cost between six and nine months of that candidate’s salary.
The flip side is that someone new can invigorate a business, particularly if the candidate has a broad experience of what other businesses have tried, what has worked and what has failed.
For long and short term success, it is crucial to maximise the time and money invested in attracting or keeping valuable employees who are the right fit for your business.
David Roberts, a Director at Polyroof Products Limited says: “We believe in promoting from within. Three members of our senior management team have been brought up through the ranks which must inspire other members of the team. We are fortunate that this is a fast growing Group incorporating three companies and that provides us with the opportunity to reward success and commitment.
We have recently recruited externally to our senior management team, a rarity for us. Ensuring Sam fitted in to the culture of the business was equal if not more important to us than his experience and skill set.”
If it is not feasible to train your existing workforce to facilitate growth, then hiring a temporary contractor is another option which can be managed alongside investing in training for current employees.
For long and short term success, it is crucial to maximise the time and money invested in attracting or keeping valuable employees who are the right fit for your business.
Your business has reached a crossroads. To grow, you need new skills, you need an extra team member. Do you promote an existing colleague or do you recruit someone from outside your business?
When to promote and when to hire?
Intellectual Property (IP): Are You an Ostrich or a Peacock?
Are you sitting on your company’s most valuable assets without realising it? Intellectual Property (IP) may be a new technical development in a product or process, a design, brand name, artistic or literary work, or even a company brochure or product catalogue. IP includes trade secrets – anything from recipes or computer code, to business strategies and client lists. If these things sound familiar, ask yourself ‘are we maximising their true value and how well are we protecting them?
IP is what distinguishes your company from another; it is often the main driver of revenue and can be one of the main reasons customers buy your products and services.
UK SMEs are amongst the most innovative in the world. In July the UK was ranked 4th in the World Intellectual Property Organization (WIPO) Global Innovation Index 2018, up one place from 2017. The UK took the 4th ranking from the US, which dropped to 6th.
Yet, although the UK is ranked higher than the US, US companies have a different attitude towards commercialisation of IP rights. Generally, US companies establish a strategy of recording and protecting their IP rights around their key revenue streams which protects and maximises their revenue. Also, they pursue other business opportunities such as licensing technology, where strong IP protection is available.
In the UK, SMEs typically take one of three approaches to IP.
The first two could be said to be like an ostrich with its head in the sand, often acting when it is too late. SMEs adopting the third approach are more like a peacock; confident and proactive.
1. IP ignorant – they do not need (or want) to consider IP rights.
2. IP passive – they are aware of IP, but do not act unless absolutely necessary.
3. IP focussed – they plan to protect their IP rights, avoid competitor’s IP, and create business opportunities around their IP.
Which approach does your company take?
Being IP ignorant or IP passive is risky.
It means your valued brands, products and services could be exposed and open to a competitor to copy them. At best, this can dilute your brand and adversely affect the potential revenue streams and profitability of your company. At worst, it can be extremely detrimental to the future viability of your company, for example, if you are alleged or found to be infringing a competitor’s IP.
Taking a proactive approach means: • establishing a robust strategy for recording and protecting the IP around the key revenue streams in your company
• maximising profitability and taking commercial control in the markets in which you operate.
If your profitability relies on creativity and innovation then you really need to take an IP focussed approach, and consider developing an IP strategy for your key products or services within your budgetary constraints.
To focus on your business assets, contact Leslie Prichard for a no-obligation discussion about your IP. Email [email protected] or call 0151 666 0749.
When business owners and upper management empower their staff, the full potential of a workforce can be realised. Colleagues ‘taking responsibility’ was one theme expressed strongly on the day; one way management can achieve this is by relinquishing control and encouraging people to make their own decisions.
Regular communication reinforcing the strategy and vision helps people understand their place in the business, and how they can contribute to its success. Once people know why they are doing what they are doing and how their input assists the business to achieve its goals, there is a stronger sense of collective ownership.
These self-realisation methods are proven to have a positive effect on the confidence of a workforce, encouraging everyone to head in the same direction: facilitating business growth.
HM Growth event: Scale Up: make your staff bulletproof
7Stages of Man(agement)What does good management look like? Recent events and industry leaders provide insight into 7 key areas to consider.
“I learned to always take on things I’d never done before. Growth and comfort do not coexist. If I sit here and close my eyes and say, ‘When did I learn the most in my life, in my career?’ It’ll always be when I took a risk. It’s when I think I learned the most.”
Ginni Rometty, Chair, President, and CEO of IBM
1Take risks 2
Ask why
Simon Sinek discusses what he terms the world’s simplest idea: The Golden Circle. In this classic TED Talk video he uses the three themes of Why, How, What to explain why some organisations and people are able to inspire more than others – essentially they know why they do what they do. What made the Wright brothers take flight ahead of Langley? Why did people follow Martin Luther King? What explains the success of Apple Computers? They each have an immovable belief system.
Search for the topic to understand why unlocking ‘why’ is an essential lesson to learn
The traditional administrative role of human resources is changing rapidly. The future of HR involves shifting from enforcing processes to facilitating business growth and improvement. HR departments need to contribute to strategic planning and understand the impact fast-paced market changes can have on various strands of the business.
Softer themes such as culture, engagement, and achieving work-life balance are essential for retaining good talent. By 2020 it is estimated that 50% of the workforce will be made up of millennials, and given the shortage of particular skills it is becoming ever more urgent for businesses to address keeping staff.
The conclusion was that if your business does not already have strategies in place to adapt to this shift, it needs to start preparing now. Without an engaged workforce, a business is likely to see its plans for growth curbed.
Insight from the Hillyer McKeown and JVP Group event: The Future of HR
Four characters Sniff and Scurry (mice), Hem and Haw (little people) feature in the book ‘Who moved my cheese?’ by Spencer Johnson. The allegory describes how each character reacts to change in circumstance with differing degrees of success, in this case when the cheese in their maze is moved. This is a timeless classic covering different methods of management and describes motivations which can also apply to life decisions. The characters represent four personality types:
• Sniff readily embraces change• Scurry jumps into action• Hem is frightened of change and is
uncertain of what it might bring• Haw is adaptable and learns that
change can be for the better.
The parable explores underlying drivers behind decision making and asks the reader with which character do you most identify?‘Who moved my cheese?’ Ebury Publishing
Effective leadership is not restricted to the boardroom. Strong decision-making, effective action, focus and determination were qualities Andy DeLooze from Baristas Coffee demonstrated to take on ‘the big boys’. He described how playing the long game succeeded despite being opposite a Costa Coffee chain shop.
Similarly, Sim Goldblum from MaxiPotenti explained how by focussing on what he is best at, having the confidence in the quality of this product and delivering a superb service helped him build his business; he recommended stepping out and rising to the challenge.
Management vs Leadership Skills for Team Success event, University of Chester Business Advisory Council
1. Management – organising and conceptualising plans to achieve objectives.
2. Command - improving efficiency through well devised ideas.
3. Control - providing structure to improve efficiency.
4. Leadership - covering interpersonal aspects such as having vision and boosting morale.
Being centred, balanced, transparent, ethical, empathetic, trustworthy… the tick list of ideal good management qualities goes on. Good management includes ‘walking the walk’ when the going gets tough and celebrating great teamwork
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Poor culture costs the UK economy £23.6bn annually and a third of people quit their job due to the business culture (including the quality of management).Business Matters, April 2018
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Focus on people
4Delegate
responsibility
Know yourselfand know what
motivates others6
Take the lead
4 pillarsof management
HM Conversation HM Conversation
Interested in management events? Contact: [email protected]
HM Conversation
ouse brickstraw
HM Conversation HM Conversation
Home Sweet HomeIf you are a home owner you may remember that feeling of butterflies in your stomach when you
bought your first house. Depending on your circumstances this might have been a mix of excitement, uncertainty, and even fear of the commitment!
Over time you may have bought and sold several properties and appreciated that the experience can vary wildly.
In our experience of buying and selling houses the process can increase in complexity as the sale or purchase progresses. Choose a conveyancer who has the knowledge to answer your questions, solve any complex issues which can crop up unexpectedly and be available when you need them to make sure your transaction is handled smoothly and efficiently. This can be the difference between butterflies of excitement and those of uncertainty!
Family mattersEveryone’s situation is different and when people first come to us for family advice we sit down to
talk it through. We encourage them to think ahead and consider what is reasonable; being very aware that it can be strange for couples who are deeply in love to consider, for example, what would happen if their relationship did not work out in the long term.
For couples living togetherIf your are living together we recommend setting up a co-habitation agreement because regardless of how long you have been together, the law sees you as individuals. The agreement helps you set out who pays for what including the expense of running a home. If there is a significant change in circumstances such as having a baby, then we recommend reviewing the agreement.
Marriage or civil partnershipsIf you are planning to get married or enter into a civil partnership, we may ask you to think about a pre-nuptial agreement. Again, this involves setting out how things are shared. Generally you keep whatever you bring into a marriage, and you then agree how to split what you have accumulated during your time together in the unfortunate event that you separate. If nothing is in place before they tie the knot, couples can draw up a post-nuptial agreement outlining what both parties agree should happen after their relationship break down.
For those clients who have businesses, or have received an inheritance, assets or money then can be ring fenced to avoid the struggle to untangle who owns what if anything changes. Assets such as property can also be factored in. Whatever situation you are in, in short, forward planning is the best advice to build a solid future together.
Looking after your loved onesIf someone says to you, would you like to protect the things you own and choose who might inherit
those things you value most, your answer is likely to be: yes of course! Yet around 60% of adults in the UK do not have a will and depending on their circumstances, if they die their assets do not always go where they would want them to.
Lifetime planningTalking about making a will or Power of Attorney can be very difficult and our team encourages people to avoid putting off this conversation until something happens – including a change in health and well being which might mean realtives are suddenly faced with paying for care (which can be planned for in advance). Again, this difficult life change can seem too far away for many to be considering now, yet as the UK population ages, it is becoming a necessary conversation to have.
Important lifetime planning allows you to decide in your will how things are divided up, making sure what you value goes where you want it to. Also, without a will when a close relative dies, people can find their lives turned upside down and during an already difficult time, families can end up with unnecessarily high legal costs, particularly if there is a disagreement.
Writing a will puts you in control and we recommend that you also consider writing a Power of Attorney; you can appoint one or more people to manage your affairs if you are suddenly unable to look after yourself.
Lifetime planning is more affordable than people think. Clients often mention that investing a few hundred pounds is good value for giving them peace of mind, preventing unforseen circumstances later on.
Whatever your circumstances, future planning can take away uncertainties in life and put you in a better position to face storms head on.
To talk to one of our experts about any of these subjects, please email [email protected]
Today, ‘family’ does not necessarily mean the traditional husband, wife, 2.2 children. Changes in society and the impact of an ageing UK population means planning is important. Here is advice for building a solid foundation to better weather storms in life.
of
or Planning Your Future
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As a business owner making the dream become reality is hard enough. As the business matures, keeping pace with change is the difference between success and failure. HM Magazine asked Ian Wade to look back and share the wisdom he’s gained over the decades.
My 20sA decade of boundless energy! I worked hard and long and if I could, I would have harnessed that energy. I stretched myself financially and borrowed what I could to make sure things got done in the right way and at the right time. I was also aware of the consequences of making rash decisions, for example, when assessing the risk of borrowing.
First impressions are massive. I encouraged feedback from customers and went the extra mile to make sure I was attracting repeat business. Competition is high among restaurants and bars and when you are the new kid on the block, most people will give you one try, if it’s not a success they probably won’t come back. And possibly never!
Being a great listener. I sought other people’s advice including from friends, family, and professionals. People are very important to me so I chose the right suppliers to work with. If a relationship feels right then it is not always about price such as when I was selecting the right site to expand in to, which included a lot of research and due diligence.
My 30sWhat have I learned? I reflected on what have I achieved in the first part of my business life. I asked myself what went right and why, and if things went wrong how should I have dealt with it.
I knew that having a consistent product was important so I used my knowledge as the foundation for each new site as my estate grew. Customers need to see you can deliver on your promises and still maintain your brand quality. When they visited any of our sites they had an expectation which we had to live up to.
One part I struggled with was delegating. Looking back I would reassure myself that other business owners may also find this hard and I now understand that it is a key lesson to learn while growing a business. Also, I realised how important it was to build good relationships with banks, suppliers, customers and of course, my staff.
My 40sMaking time to reflect and celebrate. Having built up a successful business I took an overview of where I was in life. I was proud of building up a good reputation so, as with any business which has reached a more mature phase, decisions I made at this point were analysed even more to ensure quality and consistency was maintained. I became more cautious about risk taking as I became older as I had more to lose, both professionally and personally.
Today I can reflect on having a strong and loyal management team of talented people who now have been with me a long time and make my life easier. Over time I have come to appreciate their
strengths and can let them do their job (see the point above - this has made me a much better delegator). I feel more confident in myself and the business compared to the earlier years and my success means I can project where I want to be in another 10 years and plan how to get there.
Ian Wade, is a Director of the Ring O’ Bells and Roberts & Wade Restaurants which currently run the following sites and are looking to expand in the next two years:
www.ringobellschester.co.uk www.urbano32chester.co.uk www.burgershed41chester.co.uk
HM Conversation HM Conversation
Today I can reflect on having a strong and loyal management team of talented people who now have been with me a long time and make my life easier.
Conversations With My
Younger Selfby Ian, aged 48¼
Lawence Campbell (L), Manager Ring’O’Bells, Christleton with Ian Wade (R), Director at Roberts & Wade
Being a great listener. I sought other people’s advice including from friends, family, and professionals. People are very important to me so I chose the right suppliers to work with.
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THE
ROAD(FINANCIAL)WINDING
&LONGMIND THE AGE GAP
How age diverse is your workforce? Building a career 20 years ago appeared more linear than it does today. For some it looked like this: school, further education (optional), gap year (for the lucky ones), then a job for life, perhaps working for a couple of employers. Today working life can be more convoluted. This article touches upon why this change is important to your business.
Starting out
For some school leavers, stepping on to the first rung of the career ladder can be achieved via an apprenticeship which offers a viable alternative to going to university. Myths about apprenticeships include the following:
Myth 1Apprenticeships are only to learn a trade.Varied sectors and professional services are keen to bring in fresh ideas so are taking on apprentices, viewing them as a long term investment.
Myth 2Apprenticeships offer low skilled work for non-academics which will result in poor opportunities.Apprentices can gain practical skills within a structured training framework, earn while they learn, and skip the student debt.
Winding down
People are living longer resulting in an ageing UK workforce. In February 2017 Government appointed Andy Briggs, CEO of Aviva Life UK, outlined an initiative to encourage UK employers to increase the number of staff aged 50 to 70 years old to one million by 2022. By 2022, 14.5 million more jobs will be created but only 7 million younger workers will enter the workforce. Aside from the target of addressing the projected shortage of 7.5 million workers, he stated:
“If the employment rate of people aged 50 – 64 matched that of those aged 35 – 49, it would add more than 5% to UK GDP, or £88 billion.
“To achieve this ambitious target, we need age-friendly workplaces, which allow people to sustain productive and healthy working lives for longer. Older workers should expect to be treated fairly, with opportunities for development.”
But wait, shouldn’t the focus be on attracting younger people to bring new ideas into the business? This is part of the story. By recruiting and retraining older workers businesses can also address the skills gap and retain knowledge, experience and expertise.
Barclays Bank was one of the first in the UK to support the new government scheme: Business Champion for Older Workers, introducing Barclays Bolder Apprentice and Welcome Back programme.
Barclays has recognised that apprenticeships can work for any age bringing depth and breadth to the workforce.
To qualify for an apprenticeship, you must be over 16, living in England, obtain 5 GCSEs and not in full-time education.
To achieve this ambitious target, we need age-friendly workplaces, which allow people to sustain productive and healthy working lives for longer.
HM Conversation HM Conversation
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Supply and demand are the push and pull driving market forces. Recently there has been an explosion in alternative ways to fund businesses looking to grow as strict criteria set by traditional lenders cannot always satisfy demand. Below are some of the options available. Research suggests that business funding for British small to medium sized businesses (SMEs) from alternative finance firms tops £15bn per year. Before looking to source long-term capital investment it is crucial to ask:
1. Is now the right time to invest?2. What is the risk associated with the specific need?3. How long and realistic is the payback period?
Increasingly SMEs are seeking different funding sources, designed to meet a specific need at a particular time as the business grows. Deciding which route is suitable depends on the strategic plan. For example invoice financing (or single invoice finance) might suit companies with 60 to 90 payment days which are expected to pay for stock up front. Mixing the source of funding can lower the risk but is to be balanced with reviewing progress and meeting conditions set by some types of finance.
Some of the funding options include:
Micro loans suit start-ups and small businesses requiring around £10K to £15K, and are usually to be repaid within five years.
Angel networks are ideal for early stages of business growth and often include highly successful ‘business angels’ who use their own funds to acquire shares in new companies which they believe could be lucrative.
Crowdfunding has exploded in recent years to offer entrepreneurs lending opportunities. By pitching on reward-based crowdfunding websites, multiple investors can invest to contribute to the final total.
Private equity investors often support key stages of business growth such as developing a new product or expanding into a new market. In some situations a deal might result in a management buy-out.
Public equity covers floating a business on the public stock market, offering shares in exchange for investment which (if over £5m) requires by law a full prospectus compliant with the EU Prospectus Directive.
Asset finance can be secured for specific equipment or machinery to help a business reach the next stage of growth, spreading the payment in instalments over the lifetime of the lease.
Other funding options are available depending on the level of finance and specific situation. Consider mixing and matching funding options to give you flexibility. And if one route to funding is closed, keep going and pursue an alternative!
Research suggests that business funding for British small to medium sized businesses (SMEs) from alternative finance firms tops £15bn per year.
Do you want to discuss your funding options?Contact us at: [email protected]
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Technology is changing at a rapid pace and showing no signs of abating – welcome to the ‘Fourth Industrial Revolution’ (or 4IR). The 4IR or ‘Industry 4.0’ is the world that all businesses are operating in today. It is the current environment in which emerging and disruptive technologies such as Virtual Reality (VR) and Augmented Reality (AR), Automation and Artificial Intelligence (AI) are changing the way we live and work.
In 2017, The Law Society predicted that automation will replace 67,000 legal services jobs within the next generation. A glaring statistic that strikes fear into the heart of some – yet unnecessarily so. The adoption of new technologies actually represents a significant opportunity for the legal sector – and other professional services – with forecasts suggesting that ‘LawTech’ will double the growth of a firm’s productivity from 1.2% to 2.4% within 10 years.
Gavin says: “Fear of new and emerging technologies in the professional services sector is twofold. One is a fear of being replaced by machines, the other is fear of being unable to keep pace with change and focus on the most beneficial area.
“However, the benefits of new technology could easily be harnessed if professionals simply review and rethink their relationships and traditional ways of working with their digital suppliers and creative agencies.”
Reworking the briefing processIn many cases, the start of that relationship comes with the brief for a new project from a firm to an existing or potentially new supplier. Typically this will be a document outlining the background to the business, the scope of the project, objectives and deliverables.
However, with technology changing so rapidly should this still be considered best practice and should we assume the solution we think we want is definitely the right one?
Gavin continues: “The best results we have achieved are with clients where the conversation started well before a brief had been issued.
“In instances like this, digital and creative agencies can learn more about the culture of the company, organisational fit and the actual business issue that needs to be solved or objective that needs to be met.
HM Conversation HM Conversation
Make Way for Maverick ThinkersGavin Sherratt, Managing Director of software development consultancy Mashbo, on why shaking up the professional service sector’s relationships with its digital suppliers and taking a new approach to emerging technology could revolutionise thousands of businesses.
“Digital and creative professionals are by nature maverick thinkers and professional service teams could be more open to bringing us in as consultants and thinkers rather than just ‘doers’.
We can take a problem, look at it with external detachment and use our technical knowledge to identify a solution that could completely revolutionise your business.”
Other persistent pitfalls in the briefing process include not specifying the preferred format for a response, not providing enough detail and not revealing the budget.
“It’s good to know the budget upfront,” adds Gavin. “Not because we want to spend every penny, but because we want to know our limitations. With ambitions to create the very best solutions for clients and without a budget we risk setting unachievable expectations by shooting for the stars with our recommendations.”
Right people, right timeInvesting in relationships from the start is not just about what is said – the participants of the conversation matter as well. At a recent ‘Sector Sync’ panel event hosted by Creative Kitchen and Professional Liverpool, many professional sector attendees admitted taking the ‘spray and pray’ approach to finding the right agency to take on a digital project and putting briefs out to immediate networks and on company websites, in the hope that the right supplier would find them.
It’s an approach that is time consuming, counterproductive and rarely results in a business finding the right agency for the job. The amount of submissions can create an unmanageable workload and the quality can vary.
Gavin says: “It’s far more effective for client and agency if research has been done to create a shortlist. If firms have selected a limited number of agencies with a demonstrable history of doing similar work and have had initial conversations with them before issuing the brief, then the whole process runs more smoothly.”
Ensuring you’re speaking to the right people during the pitch process is equally important too, particularly where there is limited technical knowledge in-house. Rather than being sold a dream by a stunning sales pitch, firms should invite key stakeholders, such as lead developers and project managers, in to pitch.
Gavin says: “Firms certainly shouldn’t be scared to insist on having the people who will be delivering the project in the pitch. The presence of their technical knowledge will reduce the risk of miscommunication and the setting of impossible expectations.”
Invest in R&DIn this new environment and time of great technological change, it is also time to think outside the usual parameters within which digital and creative agencies are engaged.
Despite a client side trend away from long-term contracts and a move towards project work, there
will always be a need for digital experts to deliver defined work; who in your company has their eye on
the future?
As large firms in the professional service sector (predominantly those based in the south) are investing in research and development projects that explore the uses of new and emerging technology, smaller firms across the UK are missing out on transformational opportunities because they simply do not have the luxury of time or the relevant skills in-house.
Enter again the maverick thinkersProfessional service clients could leverage the expertise of trusted digital and technology agencies on a long-term basis through investment into research and development.
“Retaining a digital specialist to keep their eye on the technological horizon for your sector will allow opportunities to be spotted early and R&D projects to be launched,” says Gavin. “Not every idea will be viable or a ‘winner’. There will be some failure and firms should accept this as part of the process, because the success will most likely deliver such return on investment that any ‘losses’ will be recouped.”
It was investing in R&D, both on client and agency side, which lead to the creation of PropertyCloud, a joint venture between Mashbo and its client Rooms4U. The PropTech platform, which automates the entire student lettings process and is now commercially available to letting agents and landlords, began life as an R&D project borne out of a standard client brief.
Communication, respect and understandingSuccess of these new approaches, however, will only come when underpinned by mutual respect, understanding and continued communication. The professional and creative sectors are two very different creatures, with different cultures and different languages.
Both need to adapt to work more closely as partners rather than distinct entities.
“Our most successful client relationships are the ones where we have regular, open dialogue and we are treated as trusted advisers and an extension of the in-house team,” says Gavin. “There is equal respect for the level of skill and professionalism on both sides of the relationship and that’s what really makes it work – communication, respect and understanding.”
Search for Professional Liverpool Sector Sync events:
www.professionaliverpool.com/events www.mashbo.com/futureproofing
The best results we have achieved are with clients where the conversation started well before a brief had been issued.
Digital and creative professionals are by nature maverick thinkers and professional service teams could be more open to bringing us in as consultants and thinkers rather than just ‘doers’.
HM Magazine asked Sharon Hilditch MBE, from Crystal Clear, the challenges of building a brand in Liverpool then going global.Q1 What did you believe launching Crystal Clear in 1995 could achieve in the first year?My goal was to stay trading as most businesses fail in the first 2 to 3 years.
Q2 What were your biggest obstacles?Cash. Cash is king; every business needs cash flow. Launching 24 years ago, finance meant going to the bank with a business plan. Visiting a male bank manager with a skincare plan, well, he looked at me as if I had 10 heads! He could not grasp people spending that much money on it. I went to Rose Davis at MSIF who got it right away and a small loan was agreed.
Q3 Had you always had an interest in beauty?I come from that background and liked skin health. I worked with a dermatologist in Beverley Hills and in Italy discovered dermabrasion with crystals. I came back with a new vision for Crystal Clear involving progressive treatment which removed post-op problems. We worked with Liverpool University and developed the first micro dermabrasion system aimed at the beauty market.
When the Daily Mail asked ‘Has Madonna had a face lift, or has she had Crystal Clear?’ we were catapulted to the next stage.
Q4 Did you ever think of giving up?No, at no point did I feel it would fail. I believe in positive thought and visualisation: if you see it, it is there. We have taken risks, and aside from the small loan we have funded everything. Which is not necessarily the right way as it is usual to take on debt.As a woman in business, I have also managed my personal life. My children have grown up so now is the time to get funding for the next level: buy out. The innovation behind Crystal Clear is mine and my ideal job would be to continue R&D with the new buyer.
Q5 Was there a point when you thought ‘my business is succeeding’?I don’t think in business you ever feel that. It depends whether you believe in your own PR; never believe your own PR! People do, but it could be a mistake.
Q6 When did you think of taking your brand global?I am proud of our heritage and have been questioned why my skincare was not made in Paris or London. It used to be an issue, now Liverpool city is trendy. My dream is to ensure our skincare range becomes synonymous with everyone, any age. You cannot do this just in the UK, it has to be global. We’re relaunching with new spa products, a website and a campaign ‘Live the life you’re in’.
Q7 How did you manage work life balance?It was a nightmare and I lived on adrenaline! I never socialised at the weekends as I felt guilty leaving the kids as I worked such long hours. Proud to say I never missed a parents evening or sports day.
Q8 How much of your personality is in Crystal Clear?I am Crystal Clear and I live and breathe the brand. We’re not faceless and I would like us to be known and recognised for innovation.
Q9 At different stages, have you ever had to shift your mind set? I think business takes you as you have to react. I don’t agree with banks asking for a five year plan as markets can change; people’s perceptions and confidence can affect spending. We came through a tough recession when banks were pulling funding and had to change our thinking. We poured everything in financially, built up skincare, and held firm!
Q10 What are you personally striving for?We have recently launched our new Brand “Quartz Spa” to complement our existing Crystal Clear treatment and skincare products and I’m proud to say that Liverpool is now home to the first ever Spa brand in the world to use a crystal in each spa product. Quartz Spa is a innovative spa brand that offers ritualistic spa treatments along with a fabulous range of retail spa products and candles.
Discover more about the brand at
www.hillyermckeown.co.uk/hm-magazine www.crystalclear.co.uk
HM Conversation HM Conversation
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The 7th Chester Arts Fair (CAF) featured a Charity Art Auction hosted by BBC’s antiques and art expert David Harper, raising money for The Countess Charity with a focus on their ‘Memory Lane’ hospital project.
“Now in our seventh successive year, 2018 looks set to be an exciting Fair with over 100 artists showcasing more than 3,000 pieces of art. Visitors can view rare investment art from leading global artists including Damien Hurst, David Harper, and Marc Quinn.” Shirley Ann O’Neil, Fair Director.
HM Life HM Life
A True Work of Art:
Chester is Leading the Way
David Harper, artist and BBC antiques expert
This project aims to enhance the environment on wards 50/51 that specialise in care for the elderly. It will provide an area to walk in – memory lane – that will be stimulating for patients, and include a garden.
CAF is a leading Fair for artists and art lovers. The Visual Art Open (VAO) finalist show will return for the second year running exhibiting artwork from around the world including America, Syria, South Africa, France, Poland and the UK. The VAO is a platform for emerging artists to present their originality to a wider audience; all of which the Fair is proud and delighted to support.
Throughout the weekend there will also be exhibits from schools across the NW taking part in the Art in Education programme.
This gives students the opportunity to showcase their work in front of leading industry professionals with award ceremonies over the weekend.
Additionally, CAF will be holding a new exhibit for 2018 about our environment. It will feature contemporary art, talks and workshops about our shifting landscapes and environmental sustainability, as a response to the greater public and political discussion brought about by the BBC Blue Planet documentaries.
www.chesterartsfair.co.uk
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BIGGEST CHAL-LENGE
MD, ETC TaxAngela Wood
Director, Lesley Hooks Estate AgentsLesley Hooks Head of HM GrowthDavid MiltonResearch suggests that after 1 year of trading around 90% of businesses survive, but after 5 years the figure drops to around 40%. HM Magazine asks: What is the biggest challenge facing businesses today?
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Business owners making the time to really step back from their business to look at their overall strategy. Running a business is turbo-charged with so many plates spinning at once that it is often seen as a luxury for owners, founders or CEOs to set aside the time needed for detailed planning. Yet it is essential. All too often participants in our War Room sessions struggle to provide clear and definitive strategic plans.
All of them appreciate the team at HM taking an objective and fresh look, scrutinising their business, and investing time in developing a solid strategy designed to help them succeed. The identificwation of personal goals and ability to align them with business goals, the development of a better business culture and marketing are topics that regularly challenge us within a three hour session. It is satisfying to help participants take away clear and definitive targets, allowing them to make significant strides forward from what was often a position of inertia.
Chairman of HM GroupSteve Harvey
My motto is provide a first class service as the saying rings true that cheap and good service don’t go together! Running any business not only takes grit and determination but a steely resolve too.
Running an estate agent in these challenging times is particularly difficult. With the introduction of online agents and their low fees, their aim was to take over the market and change the face of ‘traditional agents’. Many agents went into panic mode - their motto being ‘if you can’t beat them, then join them’. What happened next was a free fall in high street fees with agents undercutting each other to win the business. But where do you go when you reach the bottom? High street agents have ever increasing costs so matching online agent fees was simply not financially viable. I resolved to hold my nerve, our fee level and maintain our first class service. We have come out the other side, stronger and more profitable.
The relentless distraction of the ‘always on’ expectation of doing business today. As a business growth consultant I come across diverse and complex organisations which can overwhelm people with information overload and updates minute by minute, 24/7. How many of us are checking emails at home, for example?
One recommendation I make is for people to understand what is within their control and what is not. Then I ask them to break it down again into what is of concern now. People choose how to approach this differently and it also depends on the size of the organisation: smaller companies tend to be more process driven. The result we are trying to achieve is a feeling of being more in control, and less bombarded. This focus helps people to shift from ‘get stuff done’ into ‘get the right stuff done’.
Getting to grips with the ever increasing compliance and regulatory environment in which we all operate. I find this is the biggest challenge on a day to day basis, especially in the context of small or owner managed businesses (OMBs). This applies from a personal point of view of our own business but also in the context of the clients we act for.
Running a tax business, we are already fully aware of the constant and often demanding changes to tax legislation, which can be a minefield for many business owners; it can be all consuming when you combine that with other updates including:• GDPR• income reporting• Companies House filing requirements• updates to health and safety and HR legislation.
After nearly making what could have been costly mistakes, I can conclude that there is no substitute for seeking out experts in their fields, whether they are lawyers, HR advisers, accountants or tax advisers.
HM Conversation HM Conversation
Your second financial brain
The transaction is complete. Next, your Smart Bot Personal Finance Adviser appears. On the basis of big data and deep learning capability of quantum computing learning your personal behaviours through previous account history, algorithmic personality, and current affordability, it asks you if you would like to make a further deposit as now is good time to invest. Your stocks are traded with a Robo Adviser at little cost.
You have a ‘Thin File’ credit history, but would like to arrange a business loan. A Smart Bot Loan Adviser appears. Through behavioural analytics of the ‘big data’ shared by your device, your credit risk can be evaluated through the use of profiling models to underwrite the loan request. Your loan request is accepted in moments and funds are transferred to you immediately.
The bot offers other personalised services.It explains that it will use your previous spending data to predict the best time for you to save (and how much you can afford to put aside). It will transfer a small amount to your savings account when, according to the algorithm, you will miss it least, and sends you a message to ask if you are happy about it. If you say no, the money is instantly returned to your main account. This way, it explains, we can develop better saving habits, and remove the most difficult part of the savings equation – ourselves. You agree.
It says that the bank has noticed that you have been using your mobile wallet a lot and asks: with Christmas coming, would you like to look at offers we have prepared for you? In moments you are skimming selected brands personally matched to your taste. You select several and your device receives the codes. The bot adds: just so that you don’t go over budget this year, would you like me to limit your spending during Christmas to the same level as 2026? You agree. It signs off with a reminder that it will contact you next month for your annual review.
You experience has been positive, convenient and thorough. You can instantly switch providers and trust, integrity and security of your bank will always remain important to you.
How realistic is this financial scenario?
The technologies illustrated are incremental developments of digital banking today. By 2025, millennials will make up 72% of the global workforce (Accenture research, 2017); their aspirations and attitudes will focus on platform and applications rather than products. This sea change is expected to lead to the increasing prevalence and acceleration of smart technology – reshaping the way to do business.The disruption to current retail banks will predominantly be in diminishing their physical footprint but extending their geographical reach through digital technologies, alongside a reduction in headcount. Using data intelligently is already providing customer insights – predicted to be a focal point for differentiation. This intelligence, when applied correctly, will add value for customers by offering a truly personalised experience. For financial centres, technology has the capacity to increase revenue via access to internal and external Big Data and AI.
The technologies are becoming a reality because of the following:
• It is relatively inexpensive to apply technology to current friction points.
• Technology start-ups can grow very quickly through easy access to data and strategic partnership opportunities.
• There are many more opportunities to access growth capital today than historically.
It is suggested that by 2025-2030, a market economy could readily exist without banks of the traditional kind (PWC, 2017 - The Future Shape of Banking). The report suggests barriers to entry for technology driven non-banks to provide formerly ‘core’ banking services continues to decline, and today’s banking business model will be increasingly intermediated.
To survive, businesses must remain flexible and respond to the accelerating pace of change, driven by their customers’ expectations for convenience and appetite for new technology.
Is this financial technology fact or fiction? The majority are in development, but this brave new interconnected world is already happening in other industries.
• Biometric identification: visual ID recognition is used by devices such as the iPhone X, for security via finger printing and voice recognition.
• Blockchain technology: has been adopted to track supply chains such as shipping, and British Airways used the technology to manage flight data.
• Virtual assistant: well-known examples include Siri, Cortana, Alexa and Google. The race is on to perfect a truly human-like hVA (holographic virtual assistant).
• Smart bot: Google has developed a robot assistant using Google.
• Duplex technology, the most human bot to date. Companies are using AI machine learning to better understand and respond to their customers.
Author: Steve Barber, Managing Director of Bridging Finance Solutions. Steve is an Alumni of Oxford University Fintech Programme and holds an MBA from Henley Management School.
www.bridgingfinance-solutions.co.uk
The disruption to current retail banks will predominantly be in diminishing their physical footprint but extending their geographical reach through digital technologies
It’s 2026. You have given permission for the bank to access your profile which is checked annually. Passwords are archaic. Your device syncs with your smart eyeglasses and a holographic virtual assistant appears. The last time you dealt with a human at your bank was when the final local branch closed five years ago, but you are comfortable with the security of your money because of the extent of cryptography in your identity.
You would like to transfer funds to another country, and you advise the Artificial Intelligence (AI) powered Smart Bot Holographic Assistant. It feels like you are speaking to a real person and your voice is constantly authenticated and your face scanned for security purposes. A nod or shake motion detector enables you to carry out most operations.
All data is owned by you the customer, and can be provided to all other institutions via open Application Programme Interfaces (APIs) in moments. The funds are transferred instantly because of advances in blockchain technology and settlement.
Time and Technology Waits for No-oneBy Steve Barber
Steve Barber
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HM Spotlight HM Spotlight
Three Reasons Why Millennials
Matter To BusinessFor some, the M in millennial might also stand for the Me, Me, Me generation. Stereotyping millennials assumes that around 13.8 million people can be neatly pigeon-holed and treated in a similar way. While this might be convenient, Deloitte’s 2018 Millennial Survey shows that there are many complex motivations for this group, and to ignore what is important to millennials at work could potentially result in businesses rapidly becoming both uncompetitive and less relevant.
Millennials were born between the early 1980s to the end of 1994, reaching adulthood in a time of austerity and massive political and environmental change. The work place which nurtured Generation X might have been fine then, but building a culture to suit Generation Y, millennials, is needed now. Here are three areas businesses can consider to attract and keep millennial employees.
“I feel interactions have changed,” comments Bill Pearson from HM Growth. “The expectation of instant results is often in conflict with the speed at which a business can respond. While this can create frustration, I believe millennials can help businesses improve their technology and communications to leap forward.”
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HM Spotlight HM Life
1. Live to work, not work to liveMany millennial employees ‘work to live’, unlike baby boomers who were thought to ‘live to work’. The 2018 research mentions that 43% those surveyed plan to leave their current job within two years. While they may not be seeking a job for life there are indications that millennials may be more willing to stay with an employer that is ethical, responsible and invests in developing its employees. It is no surprise that, as this age group has probably witnessed workers being made redundant or experienced traditional working practices which under-valued colleagues, they might be seeking investment in personal development and a clear path for progression. How can your business respond to this shift in expectations?
Encouraging talented millennials to stay can be achieved by focussing on:Development – training, variety and progression.
Culture – diversity, ethics and inclusion.
Flexibility – relaxing the 9 to 5 hours with options for working outside the office.
Wellbeing – valuing and protecting work/ life balance.
Communication – regular feedback and interaction to help with personal development.
2. Technology is not everythingA ‘digital native’, ‘tech savvy’ or ‘good at social media’ are phrases often used to describe millennials. But for this age group it is simply how life is and always has been. While there is a tendency to communicate through new technology, this group also value social interactions which can be satisfied by receiving regular feedback in the work place instead of the more traditional annual appraisal.
So what could your business do differently? For example, replacing formal sit-downs with informal chats over a coffee, or encouraging inter-generational sessions so younger people can learn from older colleagues, not only about working practices but also about face to face communication skills.
3. Why should business change for millennials?Millennials are now reaching managerial positions so there is some urgency for businesses to adapt to the shift which this new age group is bringing. Having a working culture which acts as a magnet for millennials can reduce staff turnover, and fill the skills gap which will be increasingly necessary to embrace emerging technology. Reasons why adapting to the millennial mind-set is good for business include:
Achieving a competitive advantage.Providing a desirable place to work to attract and keep the best talent.Encouraging innovation. Age groups before millennials such as generation X and the baby boomers could learn from millennials to push businesses forward. Mary Portas commented in the Telegraph that she has reshaped her retail company in line with millennial thinking. This includes allowing management and the board to ‘take as much holiday as they like, when they like, set their own hours and take open-ended maternity leave’. Keeping pace with the rapid change impacting on the work place today is essential to thrive. Responding to new technology, the millennial mind-set, and the values each individual respects is an increasingly pressing concern for businesses with ambitions to grow.
4 great venues for doing business
LiverpoolFazenda, Horton House, Exchange Flags, Liverpool L2 3PG
T: 0151 659 1183
www.fazenda.co.uk/menu
This is Brazilian dining at its best, bursting with flavour and atmosphere. Fazenda offers a flexible, contemporary and energetic space for meeting and greeting clients or for holding small corporate events in private dining rooms.
The service is excellent and the traditional cooking is mixed with an authentic Brazilian gaúcho experience. Unique to the dining experience is the card system to indicate ‘service’ and ‘resting’ periods which can help to manage the pace.
ChesterThe Brasserie, The Grosvenor Hotel, Eastgate Street, Chester CH1 1LT
T: (0)1244 324024
www.chestergrosvenor.com/dining/chester-brasserie
A favourite for, well, everything! The 5* hotel boasts numerous awards including the world’s best classic hotel in 2017. The Brasserie has recently been refurbuished and is an outstanding place to meet, offering a superb service and relaxed yet formal atmosphere.
The Champagne bar provides contemporary dining and an impressive array of drinks. Casual dining is available from 11am and booking is recommended at the restaurant.
North WalesDylan’s Menai Bridge, St. George’s Road, Menai Bridge, Anglesey LL59 5EY
T: 01248 716714
www.dylansrestaurant.co.uk/locations/menai-bridge
Few places can boast such a view across the Menai Straits and Telford Bridge on the stunning North Wales coast. This was the first Dylan’s to open and it is not hard to see why the venture worked out so well. The nautical theme suits the surroundings, the atmosphere is welcoming, and the kitchen delivers mouthwatering local produce including seafood, meats and fresh breads.
The kitchen is open from lunch but ring ahead out of season to check it is open.
WirralThe Oxton Bar & Kitchen, Oxton Village, Wirral CH43 5TQ
T: 0151 651 2535
www.oxtonbar.co.uk
If we were to say ‘The Oxton’ goes back to basics, by this we mean it has fabulous personalised service, fresh food and drinks. The family run venue sources local ingredients which are simply prepared, delicious and well presented. The drinks menu is a choice of classics mixed with more individual choices including proudly supporting independents such as local micro brewery cask ales.
The Oxton is open from 12 noon, and is right in the heart of a bustling community.
This article was inspired by feedback from a joint Hillyer McKeown and JVP Group event. If you have any questions about your workforce, please email Justine at [email protected] for a free initial conversation.
Further reading Search for Deloitte Millennial Survey 2018
“Life is like the monkey bars: you have to let go to move forward. Once you make the decision to leap into entrepreneurship, be sure to loosen your grasp on old concepts so you can swing your way to new ones.” Leah Busque, TaskRabbit
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Third time lucky is the saying, but the team leading Cheshire Phoenix know that dogged determination has also turned the fortunes of the team’s third franchise around.
WHAT
DID TO RISE FROM THE ASHES
CHESHIRE PHOENIXStarting small1988: The journey began with the Chester Jets playing in the British Basketball League (BBL), in the old EPIC, Ellesmere Port.
1993: The team moved to the Northgate Arena in Chester, then to their present home at the Ellesmere Port Sports Village (EPSV), by Cheshire Oaks.
2007: At the end of the season the club’s owner, Mike Burton stepped down. Having no replacement, and being in a poor financial state put the club on the brink of collapse. As with any other business facing this situation, finance was needed. A group of fans got together with one question in mind: can we save the club?
A few rocky months of blood, sweat and (a lot of) tears did not resolve the situation. Something more was needed. The club and what it stood for captured the imagination of a local businessman, Andrew Donaldson owner of Big Storage, who became the major sponsor the club strived for. The Big Storage Cheshire Jets team started the 2007 season.
2012: The sponsorship deal with Big Storage ended. A different sponsor was secured but the optimistic mood was short lived. In November 2012, the club was plunged into turmoil when the new backer terminated his links with immediate effect. Again, this was devastating. The clubs franchise was withdrawn, and players’ contracts ended.
The club had to respond – or go under.
Risky businessThe club had to find £50,000 to compete in top flight professional basketball. Andrew, once again, came to the fore. Faithful fans followed. Raising extra money from local businesses, the Cheshire Phoenix (or Nix) team was formed, rising out of the ashes. The new franchise saw them reach the semi-finals.
Some businesses thrive on innovation, some on location, and for the Nix today it aims for consistency, consistency, consistency.
“Cheshire Phoenix is an apt name reflecting its reinvention, and also signifying that professional basketball is a very transient profession. The cycle is a constant one of having to re-build, ready for the
start of each season, in the hope that the team being assembled has the chemistry to achieve success,” says James Brice, the club’s General Manager.
Rising from the ashes2016: The club went through a lot of changes. A new coach was appointed but the chemistry was missing. As can be seen in the beautiful game, a change at the helm does not always work. Another sea change followed.
One of the club’s assistant coaches, Ben Thomas, saw the season out admirably as the new coach and to maintain consistency was asked to continue into the 2017-18 season.
Aged 26, during his rookie season as a coach, he commanded respect, leaving the club hopeful when aiming for silverware.
Ben says: “Aiming for the BBL Cup, the basketball equivalent of the FA Cup, was a big ask. A never say die attitude was instilled in the players which saw some incredible close calls including taking a win against Newcastle by 1pt. The road to the cup final was in sight.”
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Hope springs eternal!It was at this point in the journey that the club owners took time to reflect on the last five years.Many businesses might be able to relate to their rollercoaster ride of twists and turns. Financial problems were tackled by thinking creatively about how they could get back on their feet. The coaching challenge was resolved by entrusting an inexperienced leader who showed promise. The determination to succeed outweighed the issues being faced.
Dreaming big2018: The team stepped out at the BBL Cup final to face a 10K capacity crowd of families, friends and fans in the Birmingham International Arena; very different from home crowds in the 100s at EPSV.
Both teams fought hard for every point with the underdogs, Nix, putting in a mammoth performance against the Worcester Wolves. In front of a blue sea of faithful fans, Nix blazed a trail into the history books by winning 99:88.
Just like the romance of the FA Cup, this game had its own story to tell. The last time the franchise reached a Cup final seven years earlier as Cheshire Jets, Ben and James were two fans amongst many daring to dream big. In 2017 they returned, running the franchise!
After the smoke clearedWhen one season finishes, the hard work immediately starts again. There was no time to bask the glory of being BBL Cup 2018 champions. Keeping a level of consistency within any organisation is a key component for future success.
This is what the current board is striving for. Like any other commercial entity paying attention to finances is ongoing. The franchise is run as a Community Interest Club meaning all profits are reinvested. An army of volunteers including the Chairman and all board members run the club.
The price of fameIt is hoped that the unbelievable day in Birmingham is the start of a new chapter in this franchise’s history. A new generation of fans is following the Nix, and many of those who experienced the stormy seas over the years continue coming along for the ride.
“Winning the BBL Cup has meant that people are taking notice,” says Mark Timperley, Marketing Director. “The early risks taken are now starting to pay off and it is encouraging to see that the crowd at the EPSV home games on Sundays has swelled. But the success is a double-edged sword. Some of last season’s players have been lured to bigger contracts in Europe so the re-building begins once more”.
“It goes without saying” he adds, “that while consistency with players may be a way off, we welcome the continued support of our Principal Partner Hillyer McKeown. Without the support of partners like HM, we wouldn’t even have a club, let alone a successful one.”
Cheshire Phoenix, like any other basketball team, is only as good as its last result – and the fast-paced game is often not over until the last buzzer. For the next part of the journey, the franchise will continue to try and build on its success and look for support from businesses through corporate sponsorships. Compared to the financial commitment required to get involved in other sports like football, basketball is unbelievably great value!
For more information contact: Mark Timperley,
Marketing Director:
or on 07969 988952
Details and fixtures:
www.cheshirephoenix.com
HM Life
BBL Cup Final Facts:
Ben is the youngest coach to have won the BBL Cup and the first British coach in a decade to succeed.
FreeSport national coverage was estimated to have reached 18 million through SKY, Freeview, FreeSat, Talk Talk and BT Vision.
Streaming took place on the BBC Sport website and app, and UNILAD’s Facebook page which has 34.4million likes.
The final also featured on the BBC Sportsday programme on BBC News channel, ITV Granada Reports and in the local press.
Cheshire Phoenix team visit Hillyer McKeown
34
Contributors
Design and Art Direction
Articles
Photography
USP Creative, Liverpool
Sharon Hilditch, MBE, Crystal ClearIan Wade, Roberts & Wade Restaurants LimitedGavin Sherratt, MashboSteve Barber, Bridging Finance SolutionsShirley Anne O’Neil, Deepbridge Chester Arts FairMark Timperley, Cheshire Phoenix Basketball ClubLesley Hooks, Lesley Hooks Estate AgentsDavid Roberts, Polyroof Products LimitedAngela Wood, ETC TaxNikki Edge, Edge TransportAndy Pimbley, Claremont FarmFiona Shaw, Wordscapes
USP CreativeChester Arts FairDavid Harper, artist and presenterCheshire Phoenix Basketball ClubSteve BarberFiona Shaw
HM Magazine is produced by Hillyer McKeown LLP. Information is correct at the time of printing © Hillyer McKeown 2018.
Thank you to the following for their contribution:
2 1018
Issue 05
C H E S T E R | L I V E R P O O L | W I R R A L | N O R T H W A L E S
Are you sitting on your company’s most valuable assets
IP: Are You an Ostrich or a Peacock?
09
How will new electric innovations shape our future?
Are Trends Electric?
06
Make Way for Maverick Thinkers
18
A new approach to emerging technology
Is this the Me, Me, Me generation?
Why Millennials Matter To Business
28
From
In conversation with Sharon Hilditch, MBE
How she’s taking her Crystal Clear brand global.
LiverpooltoL.A.
ChesterGorse Stacks HouseGeorge StreetChester CH1 3EQ
LiverpoolExchange StationTithebarn StreetLiverpool L2 2QP
WirralNo. 1 Hamilton SquareBirkenheadWirral CH41 6AU
North WalesDeeside Enterprise CentreRowleys Drive, DeesideFlintshire CH5 1PP
What does good management look like?
7 Stages of Man(agement)
10CONTACT:
T: 01244 318131 E: [email protected] www.hillyermckeown.co.uk/hm-magazine
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