worcesternews.co.uk 17Wednesday, November 19, 2008

LOUISE HEWETT 18 GET EXPERT ADVICE 19 CHAMBER NEWS 22 SEARCH FOR A LEADER 23

Business NewsWEDNESDAY, NOVEMBER 19, 2008 – BUSINESS & PERSONAL FINANCE

In association with

A WORCESTERSHIRE barber hascut a unique deal with a leadingcar sales company after a chanceconversation.

In what is thought to be the firstventure of its kind in Britain,customers at Antony Kent’s gents’hairdressing salons can look for anew car while having a trim. Thesalons are using a software systemto mirror the 3,000 approved usedcars on the Listers Group website.

Mr Kent, of Himbleton, nearWorcester, agreed the deal afterexecutives from Listers went toKents for a haircut and saw thepotential of an internet-basedsystem which has been set-up toentertain customers.

The scheme is being tested at MrKent’s salon in Stratford-upon-Avon and plans are being drawnup to extend it to his branches inWorcester and Droitwich, whichare also equipped with thenecessary computer gear.

Mr Kent, said: “Our link-up withListers is really exciting and we donot know of anyone else doing

anything quite like it.” He is jointowner, with his wife Patricia, ofUK Barbers and KentsHairdressers whose 16 salons makeup the nation’s largestindependent group of barbers.

He added: “I set up the softwarein the first place to entertain ourcustomers and offer them access tothe internet to look at the newsand other information servicesavailable online.

“Now, they can also have avirtual tour of their favourite carswhile sitting in the barber’s chairhaving a trim. These videodemonstrations are entertainingworks of art in their own right andare attracting a lot of attention.”

Damien Bridge, marketingdirector of Listers, which is afamily-owned company with 38branches throughout Englandselling new and used models,sealed the deal by taking an Audi

R8 along to Kents for the officiallaunch.

He said: “I found out aboutAntony’s software system for hiscustomers when some of my staffwent there for a haircut and cameback to the office saying that weshould be appearing on it.

“This makes really good sensebecause the 20 minutes or so ittakes for a haircut is one of the fewmoments in the rush of modern lifewhen people have the time andspace to give serious thought tosomething as important aschanging their car.”

Choose acar whileyou havea haircut

Bag company pins hopes on a green ChristmasWORCESTERSHIRE eco-companyJutexpo is hoping its going to be agreen Christmas.

The business, based at Broadway,near Evesham, is helping shoppersprotect the environment byditching the plastic bag in favourof purchasing a new reusable eco-shopper.

The Christmas juco shopping bagis available at all 193 Waitrosestores throughout the UK at a costof £2.50.

Barrie Turner, chief executiveofficer and founder of the jute bagmanufacturer, said: “We’d like toencourage Christmas shoppers tobe even more eco-friendly this year

and I’m pleased to say thatWaitrose is doing likewise with aspecially commissioned festivebag.”

Jutexpo has produced 12 millionjute bags over the last five years,which Mr Turner calculates havesaved more than 1.2 billion plasticcarriers being used each year.

He said: “Supermarkets,including Waitrose which was ourvery first customer, are doing agreat job at encouraging people touse alternatives to the throw-awaycarrier and this bag not only helpsthe environment but will make astatement on the high street. WithTURN TO PAGE 20

Antony Kent gives Listers marketing director Damien Bridge a quickhaircut while they work out the final details of their software link-up.

BY CHRISTOPHER MOWBRAY01905 742256wenedit@worcesternews.co.uk

STAFF IN THE PINKFOR FUND-RAISER

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Wednesday, November 19, 2008

LAST year more than 12,000businesses in England andWales went out of business,according to thedepartment for Business

Enterprise and Regulatory Reform,and in the current economicclimate that figure is predicted bymany to rise significantly.

Nine-out-of-10 insolvencyprofessionals in the UK believe thatin 12 months’ time they will bedealing with an increase inbusiness insolvencies and thatindicates we are unfortunately infor a long period of protracted pain.

If one of your customers goes outof business then it can be verydifficult to recover what you areowed.

The Association of BusinessRecovery Professionals says thatyou will be lucky to get back morethan 10p in the pound on anyoutstanding debts – which is why agrowing number of businesses areinvesting in bad debt protection.

Through RBS invoice finance weoffer clients a bad debt protectionpolicy which can protect acompany from losses if its

customers become formallyinsolvent. It is prudent to makeprovision for any companybecoming insolvent and wetherefore advise our customers, aspart of their invoice financeagreement, to take advantage ofbad debt protection.

Two years ago about 30 per cent ofour customer base had bad debtprotection – now it’s more than 50per cent.

One of our clients had bad debtprotection for £1 million and whenone of its major customers wentbust, we paid out. Without it, thecompany would have gone down.

Bad debt protection can safeguarda business when times are difficult.RBS offers bad debt protection aspart of invoice financing ratherthan as a stand-alone product.Invoice finance means that you get

paid when you invoice. The invoicedetails are sent to the bank and youcan draw up to 90 per cent of itsvalue immediately which improvescash flow. You get the remaining 10per cent – less bank fees – when thecustomer settles.

So, instead of unpaid bills, you

have the cash needed to run yourbusiness and pay your staff.

If one of your customers becomesformally insolvent then with baddebt protection in place, we can payyou 100 per cent of what you areowed, giving you the cash flow tokeep your business running.

When you start working with anew customer it is often difficult toknow how creditworthy it is andhow quickly it will pay up, but baddebt protection will assess each ofyour customers for risk.

The Royal Bank of Scotlandreviews all a firm’s customersusing a range of sources, includingits own database and creditreference agencies, to check theirpayment performance and that isoften more valuable than historicaccounts.

This information is used to setcredit limits for each customer.You may think that they are goodfor £100,000 but our research mightindicate that they can’t be coveredfor more than £50,000. It is aboutmaking clients aware of the risksand helping them trade withconfidence.

BUSINESS NEWS: FINANCE

BUSINESSTALKINGLOUISE HEWETT

IT’S a situation all businessleaders dread and it sends fearand trepidation throughout theworkforce. Breaking news aboutforthcoming redundancies is

probably one of the most difficulttasks any manager will have toundertake.

When there is no alternative, howcan managers and business leadersmake this difficult task as fair and asdignified as possible?

Managers will need to be fully-equipped and trained with thenecessary skills to cope withdistressed, shocked and possiblyangry members of staff. Clear andcontinuous communication,explaining the solid rationale behindsuch decisions will help answer theinevitable “why me?” response andreassure individuals of the clearbusiness reasons why theredundancy option has been selected.

Any silence is likely to beinterpreted as the worst case scenarioand will impact negatively.

Fear is not beneficial to stress levels

and subsequently not beneficial toproductivity. The way we break thenews and supervise and supportemployees through this process iscritical to maintaining morale amongthe remaining staff.

If staff are not given the help andadvice they need to recover fromredundancy we may risk all membersof staff becoming down-heartenedand disillusioned, which could haveserious repercussions on a company’sbusiness.

Support to help employees secure anew future can range from providingaccess to resources during workingtime, to agreeing a budget to covercareer counselling, workshops onwriting CVs, winning interviews andoutplacement, and offering supportwith their job search.

The benefits to the business interms of reducing the impact of lostproductivity can more thancompensate for the cost. Having anoutside provider enables businessowners and managers to concentrateon strategic development andwinning new business, it also sendsvery positive messages to remainingemployees.

From my experience of providing anoutplacement and redundancycounselling service it is difficult topredict how each person will cope.

Some will need extensive help andothers will find alternativeemployment relatively quickly. Onething is for certain, offering support,advice and practical assistance tothose involved in the redundancyprocess certainly eases the pain foreveryone concerned.

“Faced with the prospectof redundancy some staffwill need lots of helpwhile others will find newemployment very quickly”

THE staff of Slater’s inWorcester gave their kneesan airing to celebrate thefifth anniversary of theopening of the store.Slater’s began business inGlasgow, in 1973, andopened its branch at 11High Street, Worcester, in2003 as part of a steadyexpansion plan.

The company specialises inquality clothing for men ofall ages, including formaland Highland dress hire.From left, manager IanMcTavish, supervisor JamesRowe, sales adviser DamjenRacic and assistantmanager Damon Tulloch.Picture by John Anyon.46071001

Don’t let unpaid invoicesdrag your company intobad debts and insolvencyPPhhiill DDuuttttoonn says in today’s economic conditions it is even more important to protect your business from bad debt

Phil Dutton is the Royal Bank ofScotland’s regional director forcommercial banking throughoutWorcestershire and Herefordshire.

CELEBRATION FLING

Shrub Hill Industrial

Estate, WorcesterTerms: Licence

580 sq.ft., 602 sq.ft., 608 sq.ft., 703 sq.ft. Workshop +

Small Office

905 sq.ft. Office, one large open plan room, one small

room + kitchen, stores and own entrance

18 worcesternews.co.uk

worcesternews.co.uk 19Wednesday, November 19, 2008 BUSINESS NEWS: FINANCE

IT is said that prevention isbetter than cure. For example inbusiness a good credit controlsystem prevents problems withcash flow.

However, in a recession,notwithstanding that cashflow ismore important than at anyother time, it is often difficultenough to secure new workwithout insulting the new clientor customer by requestingpayments up front.

If payments on account are notobtainable, then the next bestthing is not to allow the client orcustomers’ debt to grow toolarge.

This is achieved throughregular interim billing. It iseasier for a debtor to pay asmaller debt; little and often isbetter for your cash flow and ifthe debtor does not pay it hurts

less to write it off. In the event ofnon-payment – assuming theabsence of a genuine dispute –proceedings, a letter beforeaction (often called a solicitor’sletter) costs virtually nothingand may show the debtor thatyou mean business.

Such a letter should always bewritten before court proceedingsbegin. If court proceedings arenecessary, they should becommenced as soon as possibleafter the time limit in the letterbefore action – usually sevendays – has expired. If no defenceis filed, judgement can beentered in default – a simplepaper exercise – with interest ateight per cent each year andfixed costs. Once a judgement isobtained various options forenforcement exist. These includea warrant of execution – sending

in the bailiff – attachment ofearnings, garnishee proceedings(usually against the debtor’sbank account), a charging orderagainst the debtor’s property anda bankruptcy or winding uppetition.

Generally speaking, enforcing ajudgement is more difficult thanobtaining judgement in the firstplace. Your solicitor will adviseyou as to the best way forward.

None of this will make anydifference if your debtor is notgood for the money so you shouldinvestigate his credit ratingbefore suing.With the benefit ofhindsight, you should havechecked this before the debt wasallowed to accrue.

For more details contactParkinson Wright LLP on 01905726789 or visit parkinsonwright.co.uk.

Company’s can’t afford tolet clients’ debts get too big

IN these days of a changingeconomic climate andfinancial uncertainty,particularly in the last weekswith the takeovers and the

demise of some of the world’sleading banks and financialinstitutions, it has never beenmore important to protect yourwealth.

A recent report by Which?highlighted that consumergroups are reporting a sharp risein people who are worried aboutpaying mortgages and creditcards and one of the majorbanks has launched a campaignto promote guidance and supportin all of its 1,800 branches.

However, the Which? reportrecommends that people shouldseek help from independentfinancial advisers (IFA) ratherthan from tied-in advisersprovided by the banks.

But how do you go aboutchoosing the right financialadviser? Paul Taylor, managingdirector of the Worcester andEvesham-based firm ofMcCarthy Taylor, said: “There isnothing that causes argumentsmore than money. In this age ofpre-nuptial agreements, complexemployee contracts andregulations for just about everyfinancial transaction, it remainssurprising how people choosetheir financial adviser.

“Some people are happy to

trust their banks or the internet.Few, other than the extremelywealthy, have really selected anadviser.

“Recommendation from asatisfied friend is a good start,but in making such an importantdecision can you afford to justrely on someone else’s goodwill?

“If you want someone to workfor you, then you need to paythem. It is true to say that if youradviser takes commissions thatwill come out of your money, butthis situation creates acommercial relationship betweenprovider and adviser.

“Choosing a fee-based IFAhowever, creates a directrelationship between client andadviser and truly fee-basedindependence avoids any bias.

“ It is always advisable to agreethe scope of work and the costwith your IFA in advance so youknow what you will be expectedto pay for the advice that youreceive.”

History shows us that advisersdo get it wrong. Mis-sellingpensions, precipice bonds,endowments – so a sensiblequestion to ask of any adviser is‘have you or your firm ever hadto pay compensation or beenfound to have given poor advice?’

You will probably be surprisedto know how few can actuallydeny this.

Mr Taylor said: “Cost is

important, but the cheapestoption is not necessarily the best.Up-front commissions call intoquestion the motivation of theadviser.

“You need to be cautious if anadviser seems pre-occupied withproducts; they may notunderstand your needs.

“Your financial affairs areintricately woven into yourpersonal life so you need atrusted, capable adviser for along-term relationship.”

For more information contactPaul Taylor at McCarthy Tayloron 01386 422611 or e-mailpaul@mccarthytaylor.co.uk.

Now’s the time you’llwant the right adviceIt’s important to make the right choice when choosing an independent financial adviser

Paul Tayloris managingdirector ofWorcesterandEveshamfinancialadvisersMcCarthyTaylor.

WITH the current economicclimate at its lowest for manyyears, financial experts atDroitwich-based charteredaccountants Ormerod Rutterare advising clients to putaside the doom and gloomand look for that silverlining.

Martin Parry, grantsadviser, said: “For manysmall-to-medium businessesthe situation can appearbleak and, understandably,cutbacks may have to bemade in certain areas.

“However, with the rightattitude and by planning forthe future, these businessescould emerge better equippedto succeed in the yearsahead. Despite the recessionthere is still plenty offinancial support available tofund developmentopportunities.”

Currently on offer to ruralbusinesses are two newsupport schemes being

financed through the region’s£53 million share of RuralDevelopment Programme forEngland (RDPE).

Rural enterprise grants(REG) can fund up to 40 percent of costs for projects suchas environmentaltechnologies anddiversification into non-agricultural crops andlivestock, up to a maximumof £62,500. Further fundingwill be available in the newyear, for projects relating tolivestock health and welfaretraining. Strategicinvestments grants (SIG) arealso available to helpTURN TO PAGE 20

Looking towardsthe better times

IN April of 1993, after a career intaxation initially with the InlandRevenue and then with eminent firms

of chartered accountants, Maureen (Mo)Stevenson, as a qualified tax adviser,decided to branch out on her own.

She set up Tax Relief above a furnitureshop in St John’s, Worcester, with justone client. Fifteen years later, thepractice having grown exponentially,Mrs Stevenson has moved the practice –not without a pang of nostalgia – to officesat the Coach House, Hallow Park, Hallow,near Worcester,

The business now has a broad spectrumof clients from pensioners on fixedincomes to very high earners; from smallsub-contractors to substantialcompanies.

Mrs Stevenson attributes the success ofthe practice to the personal touch.

She said: “In accountancy and taxationtechnical excellence is a given. Myrelationship with my clients is personal.They know I’ll go that extra mile for eachand every one of them whenever it isnecessary.”

Tax Relief at Hallow Park is situated ina beautiful tranquil setting and MrsStevenson and her team look forward tospending many happy and productiveyears there.

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e-mail: enquiries@tax-reliefltd.co.ukwww.tax-reliefltd.com

20 worcesternews.co.uk Wednesday, November 19, 2008BUSINESS NEWS: FINANCE

WORCESTER College of Technologyis to launch a new course inpersonal finance.

Aimed at anyone who would like toget a better grip on their ownfinances, it will cover topics such aspersonal budgeting, saving andborrowing, consumer rights andwhere to get advice.

Students at the college, based inDeansway, Worcester, can eitherstudy the whole course in thedaytime over just one week, orstudy one evening each week for 15weeks.

There are no entry requirementsand the course provides people withthe chance to gain a recognisedqualification as well as become moreconfident about managing theirmoney. The course will lead to theaward in personal financialplanning, which is accredited by theInstitute of Financial ServicesSchool of Finance.

Aubrey Penning, head ofaccounting at Worcester College ofTechnology, said: “With thedifficulties that many of us areexperiencing due to the creditcrunch this is a fantasticopportunity to learn how to makethe most of our money.

“Everyone can be helped by theability to understand financialjargon and avoid the problems ofunplanned debt.”

For more information about thecourses e-mail mps@wortech.ac.uk.Alternatively, telephone eitherRhona Davis or Louise Newell on01905 743463.

There’s no need for yourfirm’s cashflow to sufferW

ITH the slowdownin the economy,increasingly highinflation and amajor reduction in

the amount of money available frommany financial institutions, a largenumber of businesses are having totighten their belts just toconcentrate on survival.

Inevitably, with less money in themarketplace, cashflow suffers ascustomers take longer to pay theirbills.

But with wages to be paid, rent tobe met and essential supplierswaiting for their cash, the challengefacing many is how to meet thosebills and make the funds stretchfurther.

One solution is invoice financingand for customers of BarclaysCommercial Bank it’s an answerwhich is proving very successful.

Invoice financing is handled bythe Barclays asset and sales financeteam, which works closely with theBarclays Commercial operation

across the region. In difficulteconomies the first thing thathappens is that big businesses startto expand their payment terms,small businesses do the same andeveryone has to wait longer to bepaid.

Although invoice financing isn’t anew concept, it is one which haschanged from being seen as a“lender of last resort” in the 1990sinto being readily accepted today asa more dynamic form of raisingfunds.

It can be an ideal solution toreleasing the money needed to growyour business, it’s an opportunity toraise funds for various differentactivities without using tangiblesecurity because the invoicesthemselves are all the security werequire.

Typical examples may includesuccession planning purposes wherea sum needs to be paid to anoutgoing director, funds required toinvest in new equipment, cashflowproblems or it may even be as partof a deal to buy another company.

We find that once customersrealise the benefits of the system,

they stay with us for the long term,simply because it is such an easysolution for them.

We have seen a significant

increase in enquiries, both fromorganisations who have existingfacilities with other lenders whowant to be with a reputable safeprovider, and from other companieswho are under pressure on theircashflow.

The strength of the Barclays brandmeans that, providing they are theright business for us and can meetour quality criteria, then wewelcome the chance to do businesswith them.

As well as invoice financing, theteam also provides further supportfor businesses if required, includingoffering a collections service,effectively managing the ledger,issuing and following up on invoicesand adding a professional edgewhich many companies – especiallythose at the smaller end of the scale– find a real advantage.

Barclays Commercial Bankprovides relationship banking to151,000 larger and medium businesscustomers in the UK (£1 milion to£1 billion turnover).

Customers are served by anetwork of relationship andindustry sector specialist managerswho provide local access to anextensive range of products andservices, as well as offering businessinformation and support.

For further information visitBarclays.co.uk/commercial.

College offersnew course togive you a gripon finances

AAnnddyy BBiirrdd of Barclays says invoice financing is providing a welcome lifeline for cash-strapped companies

Help and advice: Andy Bird is thearea corporate director for BarclaysCommercial Bank in Worcestershire.

“Invoice financing isn’t anew concept, but it isbeing readily acceptedtoday as a more dynamicform of raising funds”

Waitrose puts eco-friendlyshopping bags in its stores

FROM PAGE 17its bright colour andcontemporary design, onejute bag will hold theequivalent volume of twoplastic carrier bags, meaningyou can do more shopping.”

Waitrose has longencouraged its customers touse alternatives to carrierbags and 11 years ago was thefirst retailer to introduce abag for life.

Kelly Young, projectmanager at Waitrose, whohas the responsibility ofcutting plastic bag usage,said: “We have a number ofinitiatives in our stores toencourage alternatives to thestandard carrier bag,including our Ask Firstpolicy launched this year.

“This is a real priority forus, and we are aiming tohalve the bags we give out bythe first part of next year.

“These new festive jutebags are a great way for ourcustomers to help us achievethis.”

As well as supermarkets,Jutexpo’s customers includeconvenience stores,independent retailers,charities, local authorities,universities and schools.Bags are made in Jutexpo’sown factory in West Bengal,India, the centre of theworld’s jute production.

Jutexpo adheres to a strictethical code of practice andfair trading policy andrequires all its suppliers tosupport and uphold thesebeliefs.

The company is regularlyindependently audited, themost recent conducted inSeptember. Jutexpo hascarbon neutral status and theprocess of fairtrade approvalfor jute is under way.The Jutexpo bag on sale at Waitrose.

FROM PAGE 19improve the processing andmarketing of primaryagricultural products. Threeseparate SIG categories arecurrently being offered byAdvantage West Midlands,covering the livestock sector,fruit and vegetable packingand processing, and thestorage and processing ofcombinable crops. Thesegrants are intended for large-

scale projects with a totalcost in excess of £250,000.

Mr Perry said: “With up to40 per cent support availablethrough the scheme, nowcouldn’t be a better time toinvest for better times ahead.These grants can be usedtowards the cost of newbuildings and conversions,machinery and equipment, aswell as supporting legal fees,and product development.”

Product grants available

Wednesday, November 19, 2008 worcesternews.co.uk 21

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PHILSHELLAMWorcestershireChairman,FederationofSmallBusinesses

The ImportanceOf KeepingTrade Local!

A recent survey by The Chartered Institute ofPersonnel and Development (CIPD) 2008Absence Management Survey indicates thatboth employers and employees of smallerbusinesses are healthier, happier and takefewer days off sick: a YouGov report adds:employees in SMEs are the most satisfied atwork, they feel most engaged with theiremployer, have more freedom to choose theirworking patterns, have lower stress levels andfewer complaints about working hours.

Small businesses are the backbone of localcommunities and are the life-blood of the UKeconomy, however, everywhere we look theyare under threat; the “credit crunch”,spiralling bank charges, crippling taxes,stifling red tape, planning decisions thatbenefit supermarkets and out-of-town retailpark,anti-social behaviour, parking charges andrestriction, and the closure of post offices allcontribute to the problem.

Independents give our high streetsdistinctive character and variety; do we reallywant to live in towns where choice is limitedto a handful of national retailers located in hetown centre and out-of-town retail parks;where browsing on our local high street is athing of the past?

Food for thought:● Over 50% of the turnover of independent

retailers goes to the local community,compared with 5% from supermarkets.

● 42% of English towns and villages no longerhave a shop of any kind.

● 2000 local shops face closure.● 40% of bank branches have closed since

1990.● 25000 Post Offices face closure.● Around 27 pubs a week are closing.● By 2010 many local communities will have

no small shops or services.An FSB snap poll demonstrates the

devastating impact of the credit crunch;During the past year over 80 per cent ofrespondents had seen costs increase and 46per cent had seen decreased trade; 40 percent said they had seen costs of borrowingincreased by their banks.The FSB is turning to business owners and

their customers in a bid to reverse the trendtowards town centre decline. Whilst the FSBcontinues to apply pressure to theGovernment to rectify the failure of theCompetition Commission to deal with unfaircompetition from the big supermarkets andcall for changes to planning regulations, andend to anti-competitive practices and anindependent body to oversee retaildevelopment you can play your part.The FSB’s ‘Keep Trade Local’ campaign is

your opportunity to help. We have alreadylaunched the campaign in many towns acrossthe West Midlands, leaving petition sheets forbusiness owners to collect signatures on ourbehalf. If you would like to help simplycontact the FSB on 01386 750032 or emailangela.smith@fsb.org.ukor sign the online petition at:www.petitions.pm.gov.uk/keeptradelocal/

Together, we CAN make a difference!

IT’S A SMALLBUSINESSWORLD!

ADVERTISEMENT22 worcesternews.co.uk Wednesday, November 19, 2008CHAMBER OF COMMERCE NEWS

Cut in interest rates is aboost to our confidenceEARLIER this month the Bank ofEngland shocked the nation bydropping its interest rates by aone-and-a-half per centage cut tothree per cent – the lowest ratesince 1955.

This will inevitably helpbusinesses across Worcestershirethrough what is a very difficulttime by giving a much-neededboost to business confidence.

It is very important that thebanks react positively and givebusinesses the support theyrequire when a sound businessplan is in place because cashflow isessential for small and largebusinesses to survive.

Chris Harvey, head of policy and

representation at the Chamber ofCommerce Herefordshire andWorcestershire, said: “We hopethat this will make credit,especially for small businesses,cheaper and easier to obtain butwe would love to hear frombusinesses that still feel theinterest rate cuts are not beingpassed on.”

However, the British Chambersof Commerce is a little more

cautious in its reaction to the Bankof England decision to cut rates.David Kern, economic adviser tothe organisation, said: “We supportthe monetary policy committee’s(MPC) decision to cut rates bymore than analysts expected. We

believe the MPC should movemuch more steadily anddeliberately and avoid too manylurches towards emergencymeasures.

“These have the undesirableaffect of unsettling the marketsand undermining confidence.Using up all their bulletsprematurely will leave the MPCwith little scope to injectconfidence through continued ratecuts when the recession deepens.”

The chamber would like to hearyour views or feedback about thecut in interest rates. If you havesomething to say contact ChrisHarvey on 0845 6411499 or e-mailchrish@hwchamber.co.uk.

THE Government should reverseits decision to levy full businessrates on empty propertiesbecause it is holding backbusiness growth.

The Chamber of CommerceHerefordshire andWorcestershire, together with anumber of the UK’s leadingcompanies, is backing acampaign aimed at getting theGovernment to scrap the tax onempty business properties.

Changes to legislation nowmean that businesses have topay full business rates on anempty property after threemonths for commercial premisesand six months for industrialproperty or warehouses.

Previously, vacant offices orshops received 50 per cent raterelief and industrial sitesbenefited from full relief.

Following a meeting of memberbusinesses with seniorrepresentatives of the Bank of

England, organised by thechamber, it was agreed there isan urgent need for theGovernment to reverse thedecision to charge business rateson empty property.

The meeting was one of a seriesheld by the chamber with thebank to discuss the economy inWorcestershire andHerefordshire. The results are

included in reports prepared bythe bank’s regional agent for themonetary policy committee.

Christopher Harvey, head ofpolicy and representation at thechamber, said: “The memberbusinesses agreed that therewere some serious issuesaffecting all businesses but thereis no doubt that the impositionby the Government of a tax onempty property is causing hugeproblems.

It is preventing businesses fromgrowing, is adding huge costs tobusinesses of all types and is alsostarting to create some majorpersonal difficulties for someindividuals that have theirsavings and sometimes theirpensions, invested in commercialproperty. It is vital that theGovernment removes thisdamaging tax which, in thecurrent economic climate, wouldgive a significant boost toconfidence in many businesses.”

Call for empty buildings relief

Angels in suitsare support toentrepreneurs

ChrisHarveywants tohear yourviews.

FINDING funding for a businessdoesn’t have to be as complicatedas it’s made out to be. All that mostpeople searching for investmentneed is a little divine inspirationfrom someone to provide thefinance needed to help theircompany grow and flourish.

TV programmes such asDragons’ Den have promoted theconcept of “divine intervention”and out of it has grown businessangels. These are people whorecognise the strategic value theycan offer an emerging company.

They generally enjoy theinvolvement with new brightsparks building their firstenterprise and share the risk andreward of growing a new business.

Business angels can receive alucrative enterprise investmentscheme tax benefit makinginvestment into small-to-mediumhigh growth emerging companies

very attractive. Small-to-mediumenterprises (SME) desperatelyneeds the investment and supportof business angels more than everin this current economic climate.

Right now they could be the onlysource of money for emergingcompanies.

What’s in it for the angels? Whychoose this investment route wheneverything is in such turmoil?

The profile of an angel hasn’tchanged, though the degree of riskhas. An angel recognises thestrategic value they can offer anemerging company, generallyenjoys the involvement withentrepreneurs building their firstenterprise and shares the risk andreward of growing a new business.

The Chamber of Commerce’sgreatest fear is that without angelswe could see the collapse of theentrepreneurial sector. Generallyspeaking, angels are those people

who have experience running theirown companies and know the risk,rewards, heartbreak, and glory ofsuccess or failure. This level ofunderstanding of the challenges tonew management experience isinvaluable to the SME market.

Central England Businss Angels(CEBA), in conjunction with theChamber of CommerceHerefordshire and Worcestershire,

would like to invite you to explorethe opportunity to become anangel. It is also looking foremerging companies within thearea to apply to CEBA to assesstheir state of investment readinessand potential for presentation tolocal angels.

If you are interested in knowingmore contact Nicky Griffiths orGary Woodman on 0845 6411641.

Left, Pat Geraghty partner of Central England Business Angels, withDavid Clark investment partner. They can help your business to grow.

Empty: change of law is needed.

We’re hereto help get yourbusiness

Search our database atwww.worcestershire.gov.uk/business

or call 0845 641 1445and we’ll do it for you.

Operated byWorcestershire CountyCouncil on behalf ofWorcestershire Partnership.

If your business has outgrown its current premises,or you are looking for a more convenient location,then contact the Worcestershire Property Service.

We offer a free, confidential service that can matchyour business requirements to available premisesaround the county.

Moving

Worcestershire’s Property Service

worcesternews.co.uk 23Wednesday, November 19, 2008

Worcester News

worcesternews.co.uk

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Click on ‘pictures’ on the topnavigation bar, then on‘photosales’ and search throughthe many hundreds of images.Select the picture you want andcrop it yourself on screen. The‘print option’ button gives you thechoice of ordering a print or the giftyou would like.

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Business news RECOGNISABLY BETTER SERVICEWWW.HEWETT-RECRUITMENT.CO.UK

IN ASSOCIATION WITH

THE search is on to find anew leader for the bodythat helps Worcestershire’smanufacturers thrive.

Applications are beingsought for the chairman-ship of the West MidlandsManufacturing Consor-tium, which oversees thework of the ManufacturingAdvisory Service.

Bosses from the specialistsupport organisation arelooking to find a successorto popular industrialistMike Smith, who is step-ping down after more thanfive years at the helm.

His successor will becharged with helping todevelop the MAS-WM offerso that it helps Worcester-shire manufacturers over-come the credit crunch andmake the most of globalopportunities.

An experienced industryfigure with an ability tobring the public and privatesector together is high onthe wish list and it isexpected that the success-ful candidate will have amajor role to play in pro-moting the region and itscapabilities and in influenc-ing government manufac-turing policy.

David Wright, chief exec-utive of MAS-WM, said:“We are looking for adynamic, inspirational leaderwho understands the cur-rent world of manufactur-ing and can provide strate-gic direction as chairman ofthe non executive board.

“Our chairman will also

be responsible for helpingus meet performance andbudget targets, manage keystakeholder relationshipsand, importantly, be anambassador for our service.

“Since 2002, we havehelped more than 5,000manufacturers from preci-sion engineers and medicalspecialists to aerospacesuppliers and automotivecomponent makers.

“We are continuing toevolve in order to meet newglobal challenges and,armed with a £6 millionannual budget, have ambi-tious plans to further stim-ulate the manufacturingcommunity and generateeconomic growth withinthe West Midlands.”

In addition to the post ofchairman MAS-WM is alsolooking to recruit two non-executive directors to itsboard.

Who will lead usto better future?Hunt begins to find new leader to help overcome credit crisis

BY MIKE PRYCE01905 742247mp@worcesternews.co.uk

Mike Smith,who works atTNT’s depotin Hartlebury,nearStourport-on-Severn, hadhis legswaxed bycolleaguesdressed aswitches toraise fundsfor Wear ItPink Day.

CHARITY champions atWorcestershire’s expressdelivery giant TNT raised arecord-breaking £15,000 forBreast Cancer Campaign’sWear It Pink Day.

TNT took top honours in2006 after raising £11,000 forthe event to be named thecharity’s fund-raiser of theyear. This year, employeesat TNT’s depot atHartlebury Trading Estate,Hartlebury, near Stourport-on-Severn, donned pinkbras, witches’ pink hats,T-shirts, ties, wigs, trousersand other crazy outfitswhen they hosted dozens offund-raising events.

Depot general managerAdrian Avery said: “TNT isfamous for its orangecorporate colours, but itwas absolutely no problemfor us to change to pink forthe day. Economically,times may be hard at themoment, so I’m especiallyproud our people havesmashed last year’s fund-raising total.”

Staff cast their pink spell to raise funds

Your bank doesn’t always know bestA W O R C E S T E R - b a s e dsolicitor is warning busi-nesses not to just acceptadditional fees and incr-eased charges imposed onthem by the commercialbanks in light of the creditcrisis.

Suzanne Gilhooly, anassociate with HarrisonClark LLP, said many busi-ness people have seen thebanks trying to imposemore onerous commercialterms on them.

This may be in the form ofadditional fees or chargesor an attempt to increase

interest rates, directly orindirectly, often by tryingto change the starting pointof interest rate calculationfrom base rate to the higherLondon inter-bank offeredrate.

Ms Gilhooly said: “Myadvice is that any businessfaced with such a positionfrom their bank should notsimply accept the revisedterms being offered.

“While it is never a moveto take lightly – particular-ly in the present economicclimate – to get into a dis-pute with one’s bank, any

customer should put thebank on notice to justify itschanges both in terms ofthe specific provisionswithin their agreementsthat allow them to do it andalso to establish that theirreasoning has been justi-fied. The banks are oftenrequired to show reason-able grounds for anychange or re-assessment ofrisk.

“Businesses will find itwell worth reviewing thedocuments carefully beforeagreeing to any change inbanking terms.”

Promoted: Richard Booth,left, and Jeremy Clarke-Morris.

Promotionsstrengthentax team ataccountantsCHARTERED accountantsand business advisersKendall Wadley LLP hasannounced two key promo-tions in its tax department.

Jeremy Clarke-Morris hasbeen promoted to head oftaxation services.

He has more than 15 years’tax experience and startedhis career with HM Revenue& Customs.

Mr Clarke-Morris has aparticular interest in capi-tal gains tax and inheri-tance tax.

His client base over theyears has included directorsof multi-national compa-nies, large professionalpractices and high networth individuals.

Richard Booth has beenpromoted to assistant taxmanager. He joined KendallWadley in 2004 and quali-fied as a chartered taxadviser in 2006. He managesthe practice’s personal andcorporation tax compliancedepartment and has a par-ticular interest in allaspects of corporation taxplanning.

Searching: David Wright,chief executive of MAS-WM.

Your moneyWORCESTERNEWS.CO.UK

Advice: Suzanne Gilhooly.