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Surviving the shipwreck Corporate recovery Southern flag Business Solent special Logistics market Sector watch Charles Lamplugh, Lloyds Bank Corporate Markets Relationship Director Nigel McGinley, Fortnum & Mason Finance Director

That’s why for the seventh year in a row, Lloyds Bank STRONG Corporate Markets is Bank of the Year. Voted for by the UK’s leading Finance Directors, it goes to show that our clients value the importance RELATIONSHIPS of great relationships just as much as we do. The award owes much to the quality of our service, the expertise of our relationship managers and REALLY DO our continued commitment to supporting UK businesses like Fortnum & Mason. So whilst the award may be the same this year, we ADD UP. know that every relationship is different. For information on how we can help your business, contact Steve Clarke on 0118 921 9192 or email [email protected] lloydsbankcorporatemarkets.com

Please remember we cannot guarantee security of messages sent by e-mail. Lloyds Bank Corporate Markets, Lloyds TSB Corporate Markets and Lloyds TSB are trading names of Lloyds TSB Bank plc, Lloyds TSB Scotland plc and Bank of Scotland plc. Lloyds TSB Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Lloyds TSB Scotland plc. Registered Office: Henry Duncan House, 120 George Street, Edinburgh EH2 4LH. Registered in Scotland no. 95237. Bank of Scotland plc: Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC32700. Authorised and regulated by the Financial Services Authority under registration numbers 119278, 191240 and 169628 respectively. Bank of the Year 2005-2011 FDs’ Excellence Awards in association with the ICAEW and supported by the CBI & Real Business. LS99-FO700AD-0611 We aim to make our client partnership the perfect pairing To see how we can help, contact our Winchester or Romsey office on 01962 852 263 or 01794 515 441

www.wilkinskennedy.com regular features

News 4 Opinion – Cautious when talking about a recovery 4 College unveils £34m training hub 5 Festival’s a first for creative businesses 6 Hampshire advises on business with local government 7 Survey will identify barriers to growth 8 Hampshire pushing for superfast broadband 13 And the next stop is ... Mumbai 14 We should be digging for diamonds in the dirt Solent 250 12 Grant Thornton’s Solent 250 Sector Watch 13 Case study – Peters & May Business Solent 15 Welcome to Business Solent 16 Economy on the menu 17 Major sporting events planned 18 Champions of the Solent region Finance 19 ’Constantly altering’ global economy Deals 20 H.I.G. Europe acquires AIRCOM International p15 26 Moore Blatch swots up on higher education deal Deals Update 21 Latest deals data from across the region Profile 22 Compost and coffee Property 27 Mixed-use business park in pipeline for Salisbury Technology 28 Copier specialist Canotec tops the green IT charts p17 People 29 Movers and risers ... Diary/News Extra 30 Award winners announced special features

International Trade 9 Setting up abroad is a medium-term gain 10 Looking at current trends

Corporate Finance 23 Corporate recovery should mean precisely that 24 Corporate insolvencies still on the increase 25 Managing your bank 26 No fire without smoke

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THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 www.businessmag.co.uk 4 news Come to opinion College unveils grips with retirement We have all learned to £34m training hub age shifts become so cautious when talking about a Since the Government phased out the default retirement recovery... age in April a partner at Winchester-based solicitors ...that appearing optimistic Shentons has warned that about recent economic data this is an important change would seem to be tempting which both employers and fate. employees need to get to grips But there are signs that Britain with quickly, before workplace is doing OK – with the latest confusion causes disharmony. indicators from the OECD “Employers are no longer (Organisation for Economic Co- able to issue notifications operation and Development) of retirement using the DRA showing that the UK is heading procedure. Where notifications for modest expansion over the have already been made prior coming months. Geoff Russell (left) and Alistair Neill cutting the ribbon to April in accordance with Compared with France, Italy The importance of skills and Russell, who praised the visionary these procedures, employers and almost the entire Eurozone apprenticeships to businesses leadership of Noble and her team will be able to continue with (Germany being a notable and the regional economy was and added that the College’s role the retirement process as exception), the UK is showing highlighted at the grand opening was particularly important given the long as the employee is aged at least 65, or the employer’s signs of relative expansion. of the £34 million ‘hub’ building state of the economy. “Continued retirement age, if higher, at City College Southampton, investment in further education Anecdotally, and gathering before October 1,“ said Shaun attended by more than 150 guests, colleges is vital, from both public feedback from companies Underhill. involved in our Roundtable including business leaders from and private sources, as future jobs, discussions, it appears that across the south and members of and indeed the economy, depend “In accordance with DRA many businesses in the south the community who use the hub as on people acquiring skills.“ procedures, those employees a vital facility. will be able to request are optimistic that demand is Neill stressed a £2 billion to work on beyond their slowly growing and that the Lindsey Noble, principal and CEO investment in the city during order books are beginning to notified retirement date and of City College, thanked all those the next two years: “Cities need fill again. employers will be able to responsible for the hub’s creation. to dream and big cities need to agree an extension to their Consumer confidence was She referred to the transformation dream big. Southampton doesn’t employment. If the employer also up in May – the sharpest and change which had occurred, just have dreams, but plans. It’s wishes to give an extension month-on-month climb since ensuring that the College was the largest city in the south east that still ends with dismissal 2004 – but this has been put well placed to meet the aims and outside London and benefits from under the DRA, the extension down primarily to the royal aspirations of local businesses as assets such as a natural sea port, must be for a fixed period wedding ’bounce’. Another they sought to recruit, train and airport and two universities. The of six months or less. This good sign is that the demand develop the right people. future of every city depends on is the maximum period for empty units in retail parks is City College is in the top 10% how it nurtures and develops allowed without the need to back to levels last seen before of colleges in the country for its its young people and every issue a further notification of 2008. Retailers are snapping success rates for 16-18 year olds generation must renew.“ retirement. up units, presumably at very and the fourth best performing The College boasts some of favourable prices. general further education (GFE) “Beyond certain transitional the best facilities in the region arrangements, employers Unemployment shows little college in the country when taking including TV studios, a commercial are no longer able to rely sign of reducing significantly, into account all qualifications. restaurant and cafe, a 240-seat on the DRA. This means but there is an acknowledged Noble said this was a massive theatre, professional hair and that employers cannot skills shortage in certain endorsement of the teaching and beauty salons and top of the range compulsorily retire their sectors, so there remains the support staff: “We had a really engineering suites. employees, unless the challenge of reskilling jobless clear vision of what we wanted to retirement can be objectively people and preparing them achieve and this environment ‘role Skills and apprenticeships are justified in their particular better for what employers models’ workplace behaviour for important to businesses both circumstances.“ actually need. our students.“ regionally and nationally. Daniel Davis, customer support manager Geoff Russell, chief executive of So, as the summer holidays at Romsey-based Mitchell loom, it’s not overly optimistic the Skills Funding Agency, and In the September issue of Powersystems, brought in an to think that the start of the Alistair Neill, chief executive of The Business Magazine apprenticeship programme using new business impetus that Southampton City Council, both City College two years ago. The • Law South East/The Legal 500 September always brings will originally from private sector company’s newest apprentice • Mergers & Acquisitions add further momentum to the backgrounds, cut the ribbon to will start in September, on an • Focus on M27 & economy. officially open the Hub. NVQ course which backs up work Southampton David Murray, Publisher “This College represents exactly undertaken on a range of diesel Details: 0118-9745308 what the Skills Funding Agency’s engines for commercial vehicles [email protected] mission is designed to achieve,“ said and the marine sector.

www.businessmag.co.uk THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 news 5

THE Festival's a first for BusinessTM creative businesses MAGAZINE:DIGITAL Read these stories in full in the current issue of The UK’s first creative business festival, The national network, Creative England. Formerly The Business Magazine:Digital Future Skills Festival, is running until July 14 in head of corporate relations at Channel 4 and at www.businessmag.co.uk Portsmouth. a special adviser to the Government, Wired Magazine lists him as “one of the UK’s top 100 It is designed to boost the south’s creative digital power-brokers“. Most events take place Women discover hands-on careers economy by giving creative businesses the at the University of Portsmouth, where Cibas is necessary skills to exploit new media and based. Currently there are more men working in technology. industries such as building, plumbing and Contributors include Alison Baverstock, author electrical engineering than women, but this is The event is designed specifically for creative and resident blogger for the Writers’ and Artists’ a changing trend, according to Checkatrade, people including artists, designers, performers, Yearbook; Yemisi Blake, creative mentor at which helps people avoid cowboy builders writers, creative businesses and companies and the Southbank Centre and associate artist by providing a free transparent and impartial other professional people working in the arts, with All Change; Mark McGuinness of blogs directory of vetted tradespeople and service culture and creative industries. Participants Wishful Thinking, Lateral Action and a regular providers across the UK. will have access to industry experts and come contributor to The 99%; Sinead MacManus, away with enhanced specialist knowledge, digital wellbeing consultant and founder of Young people ‘not wanted’ by employers new practical skills and action plans as well as 8fold; James Byford, consultant, producer and Despite the number of 18-24 year olds who the opportunity for professional networking freelance-freeranger; and Silvia Baumgart, are unemployed at an astonishingly high rate opportunities. project coordinator for Own It, the IP service in the UK, businesses are still failing to invest in A programme of seminars, workshops and based at the University of the Arts, London. them, suggests a new survey released today talks will take an in-depth look at subjects Director of Cibas and one of the Festival by EST (Ethical Skills & Training). such as blogging and social media, protecting organisers, Paola Campari-Moss, said: “New How to manage older workers Intellectual Property online and building a digital and media technologies are changing toolkit of digital media and resources. The aim is the way that creative people are starting-up Employers need to train and performance to help artists and creative businesses to explore and growing successful careers and businesses. manage older workers better or risk falling how new media and technologies are creating The artists, designers, performers and writers foul of the law when Default Retirement Age opportunities and new ways of working. of the future won’t have to rely on traditional is phased out, shows CIPD survey business models or established routes-to-market The Festival, organised by the creative Agency workers get more rights such as the agent, the publisher, the record industries business and skills development label or gallery. Instead, they will adapt their Employers and agency workers need to agency (Cibas), will bring together some of the creativity and broaden their skills to exploit new take heed: the Government has announced UK’s leading experts in creative careers and technologies, apps, media and resources both to that the new Agency Workers Directive will business development. The Festival’s flagship promote and to create their work.“ come into force in the UK on October 1, 2011, Question-Time-inspired launch event featured without any changes. John Newbigin, chairman of the newly formed Details: www.port.ac.uk/cibas

The writing's on the media wall They are a welcomed and much-needed alternative to the many old monitor stacks An innovative new media wall system unveiled which are being replaced.“ by a local Romsey-based business less than Dorset Police recently purchased three a year ago is going from strength to strength Evolution media walls to assist in its and has already been installed in a number of preparation for the 2012 sailing events which prestigious control rooms across the country. look set to see a huge increase in visitors to Thinking Space Systems, a supplier of specialist Weymouth and the surrounding areas. The technical furniture launched the Evolution Evolution media walls will be used in training media wall last autumn. rooms at the authorities’ centres in the south west. Manufactured from Thinking Space’s aluminium extrusion system, and featuring elegant and “Our modern, flexible and cost-effective media innovative construction, the Evolution media wall solution is proving to be an invaluable wall is now installed in the brand new, purpose addition to all kinds of control room settings built and high specification command and and we look forward to exhibiting Evolution control centre for Leeds Community Safety and media walls at IFSEC,“ added Palmer. METRO CCTV by Leeds City Council and West Lightweight, low maintenance and minimalist Yorkshire Passenger Transport Executive. Three design means the Evolution is easy to sections of Evolution media wall have been assemble from the flat packed kit. Monitors positioned to form a continuous system. can be angled on their tiltable mounts to Wayne Palmer, managing director of the award- suit the viewer’s preferences and it can be winning firm, said: “We are delighted that less expanded to add more screens later. The units than a year since the launch of our Evolution can also be fitted on castors to make them media walls, sales are strong and they are being mobile within training facilities or educational used in control rooms across industry sectors. centres.

THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 www.businessmag.co.uk 6 news Hampshire advises on business with local government partners

Hampshire County Council has procuring with Hampshire firms in reinforced its support for local the past year alone. By exploring businesses, voluntary groups and how Hampshire’s public and community organisations with private sectors can continue to help and advice on how they can work together and build future do business with local government partnerships, we can continue to partners across Hampshire. support the local economy during More than 100 representatives this time of public spending cuts and from small businesses, and the considerable financial challenge.“ voluntary and community sectors FSB Wessex regional vice-chairman have been finding out how they Tim Colman introduced the event can navigate the procurement and added: “The event, which was process within local government well attended by small businesses and pursue future business and voluntary organisations opportunities with the county and Councillor Ray Ellis, Hampshire County Council executive member for from across the county, was a district councils in their role to economic development and rural affairs (right), with Tim Colman clear indication of how the HCC deliver hundreds of local services procurement team really does to residents across Hampshire. and local firms while supporting itself and its services to fit with want to engage with local suppliers local trade. the new direction being set by the The event, held in Winchester, – and not merely those from the Government. builds on the small business Working with partners, developing corporate world. The introduction engagement accord which was existing partnerships and creating County Council leader Ken of the simplified pre-qualification recently signed by the county new ones with the voluntary Thornber said: “Hampshire County process will really benefit those council and The Federation of sector and local communities Council has a strong record of small organisations who may Small Business. The agreement is a key part of work currently working with local businesses and have previously felt excluded aims to help enhance the being undertaken by the county successful trading arrangements, from tendering for public sector relationship between the county council to develop and reshape spending around £352 million contracts.“

Looking for low cost, Sending large files can be low commitment office free, easy and secure A new way to send large files ticketing references, so that all the around the Web completely free of references are kept intact. space in Hampshire? charge has been launched by the ZendTo is Field’s latest big University of Southampton. development since MailScanner, UÊ Êi݈Li]ÊVœ˜Ûi˜ˆi˜ÌÊ>˜`Ê«ÀœviÃȜ˜>Ê ZendTo is a free and secure, web- the world-leading email security ܜÀŽˆ˜}Êi˜ÛˆÀœ˜“i˜ÌÃÊÌ ÀœÕ} œÕÌÊÊ based system, which will allow and anti-spam system. He began Ì iÊVœÕ˜ÌÞ users to send large files much developing MailScanner in 2000 UÊ Êˆ} Êëii`ÊLÀœ>`L>˜`ÊiµÕˆ««i`Ê faster than by email. The system and it has been downloaded more “iï˜}Ê>˜`ÊÌÀ>ˆ˜ˆ˜}ÊÀœœ“ÃÊvÀœ“ÊÊ allows users to send files within than 1.5 million times and is used Ë{Ê«iÀÊ œÕÀʜÀÊË£ÓÊ«iÀÊ`>ÞIÊ and beyond their organisations by some of the world’s leading organisations in 226 countries, UÊ "vwViÊë>ViÊ>ÃÊ>˜`ÊÜ i˜ÊޜÕʘii`ÊˆÌ from their own servers with no size restriction. such as the US Space and Naval UÊ 9œÕʜ˜ÞÊ«>ÞÊvœÀÊÌ iÊë>ViÊޜÕÊÕÃi Warfare Systems Command; Julian Field, postmaster for UÊ 7œÀŽ]ʓiï˜}Ê>˜`ÊÌÀ>ˆ˜ˆ˜}Êë>Vi Harvard, MIT, and Cambridge electronics and computer science universities; Vodafone Europe; UÊ Ê ˆÌ iÀÊ`Àœ«‡ˆ˜ÊœÀÊLœœŽÊ>˜`Ê«>ÞÊ at the University, who developed Amnesty International; Friends of ÃiVÕÀiÞʜ˜ˆ˜i ZendTo, explained: “This is the Earth; and the British Antarctic completely free and because you Survey. The technology is fast run it on your own site, you can be becoming the standard email sure that it is completely safe and solution at many ISP sites for virus *prices vary per centre private and you retain complete protection and spam filtering. control of your data, your system For further information and booking: and your users.“ “Ironically, the success of T. 01962 846381 E. [email protected] MailScanner and its strict security www.hampshireswc.org It is particularly useful for protocol means that it imposes organisations which operate in a limits on files being sent by email, customer service environment, which led to the development of Supported by since when it sends files, it ZendTo which has no size or type incorporates customer service restrictions,“ Field concluded.

www.businessmag.co.uk THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 news 7

Your Disputes

“Our goal is to achieve the commercial outcome you need as fast as possible” Lamport Bassitt Rick Munro, Partner, Dispute Resolution Solicitors www.lamportbassitt.co.uk [email protected]

contributions from the action Survey will identify barriers to groups. French said: “I am very pleased growth for local businesses that our application to the BIS LEP capacity fund has been successful. Engagement with businesses to These results will be used The government funding This funding will enable us to get establish priorities is now top of alongside feedback received from success kick starts a busy few real business engagement in the the agenda for the Enterprise M3 businesses at the Enterprise M3 months for the newly-formed LEP and ensure the priorities we Local Enterprise Partnership (LEP) launch conference and views from LEP. Applications to sit on the determine are the right ones for following the announcement of the action groups currently being Enterprise M3 board have flooded the area.“ in. Business representatives funding from government. set up under emerging themes Enterprise M3 covers the areas and public and third sector for the LEP to help determine its of Basingstoke and Deane, East The LEP, which works across the representatives will join the priorities. These themes include: Hampshire, Hart, New Forest, north Hampshire and north west chairman Geoff French and vice finance, innovation, business Rushmoor, Test Valley and Surrey area, has been successful chairman John Copley on the board. support; infrastructure (transport, Winchester in Hampshire and in its bid for funding from the strategic planning and housing); Once formed one of the first jobs Guildford, Surrey Heath, Waverley BIS LEP capacity fund. It will land and property; leisure, tourism, for the board will be to determine and Woking in Surrey, working now use the £9,000 gained to place shaping, inward investment; the LEP’s priorities based on the across traditional boundaries undertake surveys to establish and rural economy and broadband; intelligence received through to make a real difference to the understand the barriers to growth skills and employability; sector the area-wide surveys, feedback people who live and work in the for businesses within the area. specific (such as aerospace). from the launch conference and area. Caribbean comes to town Brain tumours kill more Last month saw the vibrant The launch comes only seven grand opening of a new £750,000 months after the opening of men under the age Caribbean restaurant and bar in the company’s first restaurant in Southampton’s Guildhall Square. Milton Keynes, and highlights of 45 than prostate or Turtle Bay’s success at bucking the Turtle Bay, which seats 135 diners any other cancer... current economic climate. inside and 80 alfresco, is the first leisure attraction to open in General manager Tom Cousins said: the city’s new cultural quarter “We’re investing £750,000 into the and council bosses and local city to create something entirely businesses have welcomed the new – taking specialist Caribbean arrival of the colourful eatery dining into the mainstream. We This is John’s story... which has brought jobs and want to be the catalyst for the My husband John was diagnosed with a brain tumour in the August vitality to the revamped area. revival of the city centre.“ when we were away on business in Canada. Back in England John had an operation and 80% of the tumour was removed. That’s the thing with brain tumours, they’re in the brain, you

can’t remove all of the tumour. We had a very positive attitude to his illness and never had any doubt that he would be OK. Maybe we knew deep down that he wasn’t going to get better. My worst nightmare came true the following June when I lost my husband, my lover, my best friend and my business partner – he was only 52. Support brain tumour research and give hope to the 16,000 children

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THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 www.businessmag.co.uk 8 news Hampshire pushing for superfast broadband

Hampshire County Council is • There are now jobs that are continuing to progress its plans only advertised on the Internet for superfast broadband after and can only be applied for via receiving positive feedback on an online form. its bid for government funding, • Public services are offering despite not being picked for an more services online initial share of that funding. enabling the public to access The Government announced that information and carry out four areas of the country – none transactions, like paying for in the south east – would receive council tax or renewing library a share of £50 million to help books, at any time, from home. stimulate the rollout of superfast • Children access, complete broadband. Although not and submit their homework included in this wave, Hampshire online and access vast learning received positive comments from resources. Broadband Delivery UK (BDUK) • Shopping on the Internet on its strong and innovative bid can save people hundreds of and is assured that it will receive pounds each year. funds in the near future. A further • Businesses use the Internet £480m government funding to communicate with clients remains to be allocated. and suppliers or even deliver A total of 18 bids were received services.“ by BDUK for a share of this first Thornber continued: “The pot of funding from the total world has gone digital and our of £530m set aside. Hampshire economy, social activity and the County Council met BDUK in education of our children is going June to discuss its bid and the to become more and more reliant potential timeframe for funding on broadband in the future. But support. if the market was left to its own devices parts of Hampshire would County council leader Ken not see superfast broadband Thornber commented: “Whilst anytime soon, if at all. There is we are disappointed not to have no doubt that we need to help been included with Norfolk, to ensure that the digital divide, Somerset, Devon and Wiltshire, which sees urban housing estates we recognise that these areas receiving superfast broadband, have even more rural and sparsely but rural villages just half a mile populated areas than Hampshire away getting little or no Internet and we understand why they access, does not widen. may have been first in line for this current round of funding. We “We are continuing our campaign expect our proposals will secure to get residents and businesses funding in the next few months. on board and register their demand for faster broadband in “Around 114,000 households their areas. This will not only help and nearly 7,000 businesses in us to secure funding but also, Hampshire currently have poor when it comes to fruition, faster broadband services with very broadband will be rolled out on a slow speeds or, even worse, combination of demand and most no service at all. The situation efficient use of resources. for residents and businesses in these areas is unlikely to improve “It is essential that even in times without public sector intervention of financial constraint we invest because it is not commercially in projects such as this because of attractive for telecommunications the long-term benefits they can businesses to upgrade the bring. By getting involved in the existing infrastructure. delivery of superfast broadband for areas that would otherwise “Access to broadband is not benefit we will not only be becoming an essential part of reducing inequality and helping modern living. It allows people local residents and business have to work and run businesses from better access, it will also enable home and increases access to the county council to provide education, employment, health more services online, driving and leisure. For example: down delivery costs.“

www.businessmag.co.uk THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 international trade 9

immediate payback. This is a medium-term Setting up abroad is a game, and they do not underestimate the management time it will take to research, design, implement and then oversee the new operation.“ medium-term game Recently back from a business trip to Mumbai where he attended a number of presentations, For many businesses, international trade is not just about exports and Hayward was reminded of the scale of opportunities in India and the speed of change imports, but about setting up and running operations in other countries, with new business parks springing up – as well exploiting either their own domestic market place, or seeking more efficient as the frustration of seeing roads and physical cost bases and supply chains, according to Kim Hayward, senior audit and infrastructure improvements lagging behind and slowing down progress. international liaison partner at BDO He concluded: “I came back energised by “Foreign Direct Investment (FDI) is no recent companies may face restrictions on foreign the ambition and excitement that so many phenomenon; what is remarkable, however, is ownership, local trade protectionism and issues business people in India feel about their own the speed of its increase and the shift away from around business ethics, such as having to pay to economic prospects. I was reminded just how the West and USA to the East,“ said Hayward. ‘loosen’ local administrative burdens. However, much in Indian business is familiar to us in the “For the past two decades at least, the East was if the market opportunities or the savings in UK, and that despite our chequered past, India looked upon for low cost manufacturing; now getting products produced are large enough, respects the British way of life. I think many it is the market opportunities that also appeal. then these opportunities should be explored. Indian businesses will look forward to working By 2030, it is forecasted that two-thirds of the Our local businesses, supported by local and with British businesses to help them exploit world’s middle class will be Chinese. With some central government agencies, are more likely to not only their own, vast, domestic market, 70% of the Indian population aged 25 or under feel confident of succeeding in India, the Middle but also the other overseas markets in which in a country whose GDP will soon be increasing East and China; Mexico, Nigeria and Columbia Indian businesses will increasingly establish by 10% pa, fuelling a significant latent middle may prove too difficult and too risky in the short themselves.“ class, another major consumer driven economy term. awaits us.“ Details: Kim Hayward “Experience tells us that the companies which 023-8088-1897 He observed that the outlook is not purely have succeeded in opening up their businesses [email protected] about India and China because the economies around the world do so when they thoroughly www.bdo.co.uk of Mexico, Turkey, Indonesia, Malaysia and research the market and how to do business; Colombia are also set to prosper (the population when they take professional advice as to 'where' of Indonesia alone will soon reach 300 million). and 'how'; when they recruit the right local senior management and find the right local trading “There are clearly issues for UK companies partners. looking to set up business in these countries. Putting aside language and culture barriers, “They tend to realise that there will not be an Trio unites to take on international sail racing market

PSP, Pindar and GAC have joined forces to provide a logistics and transportation service for sail racing teams and individuals across the world. The international triumvirate has been established in a bid to take on the market leaders and become the world’s biggest provider for race teams and individuals competing in sailing events globally. PSP will lend its worldwide experience, expertise and knowledge of race logistics to provide the physical service. As one of the world’s biggest shipping and logistics firms with more than 50 years’ international experience, GAC brings its global coverage and resources to the alliance. Sail racing team Pindar is a respected name is international competitive yachting circles and brings a wealth of sailing contacts. Frank Dixie, managing director of PSP, said: “This is the perfect union and the strength and experience of all three companies will create a formidable force within the market. We are already in talks with a number of potential customers and expect to see a great demand for this service.“ The extreme 40s racing in Turkey

THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 www.businessmag.co.uk 10 international trade

major programmes that will have Looking at current trends a beneficial impact on British exporters. The first of these is the export working capital scheme, on to their stock for longer, this is and China. As wages continue to Businesses looking to trade which is aimed at large, one-off putting more pressure on cashflow. rise dramatically in these emerging internationally are under projects valued at over £1 million. a number of competing This is due to a prolonged trading markets, the price of goods produced The purpose of the scheme is to pressures at the moment, cycle together with increased storage there will rise in tandem. assist UK exporters to gain access writes David Squibb, regional costs for goods. Along with this, we Due to this combination of factors, to working capital finance, and will trade director, Lloyds Bank have found that there has been a we are seeing that there is a involve the ECGD guaranteeing Corporate Markets general shift in power from buyer up to 50% of the risk in such a to seller. With exporters across Asia general desire from both banks and As the recovery continues, transaction. facing increasing demand, they are customers to ensure that lending for wholesalers are facing challenges to becoming more selective about who working capital matches the actual The second scheme worth noting their businesses in terms of the rising they sell to. Importers are finding that trading cycle, taking into account is the Bond Support Scheme. costs of raw materials and labour, and they might have to commit resources any seasonal peaks and troughs, This programme aims to support the strength of the euro, for instance. much earlier in the year in order to replacing the more general but less businesses that need to issue We are seeing a number of trends in secure production and guarantee flexible overdraft facility. contract guarantees with bid overseas markets that point towards their supply, creating more pressure Exporters bonds, performance bonds and a shift in power from importers to on cashflow due to the extension of advance payment guarantees. exporters. their working capital cycle. As the economic recovery continues For all three of these, ECGD will to gather speed, the importance guarantee up to 50% of the Importers Looking at the commercial side of of exporters to the UK market bond, but for advance payment business, importers are seeing prices Importers are currently facing a becomes more and more evident. guarantees they will consider a continuing to rise due to two major number of financial and commercial The government’s desire to have higher rate of up to 80%. challenges to their businesses. There external factors. Firstly, importers an export-led recovery means is evidence that wholesalers are are grappling with much higher raw that there are a number of new These new programmes will offer seeing a slower call-off of stock by materials costs at a time when the schemes being launched to real benefits to UK exporters. UK retailers, meaning they have to UK retail market remains intensely support British exporters. These Lloyds Bank Corporate Markets spend much more time sitting on competitive. This rise in the cost of programmes see banks, including is ready to support qualifying stock than previously. A major reason raw materials has affected almost all Lloyds Bank Corporate Markets, businesses with facilities under industries and pushes up the price of for this is the current fragility of high working alongside the Export these schemes. Trading conditions manufactured goods. Coupled with are expected to remain tough street sales – according to the most Credits Guarantee Department this rise in the cost of raw materials, for the rest of this year, however recent BRC-KPMG retail sales monitor, to offer different methods of there has been substantial wage we expect, partly through sales fell by 2.1% year on year in May. assistance to exporters. inflation on goods coming from Asia, these initiatives, to see market Because suppliers are having to hold from countries such as Bangladesh Among these, there are some improvements as we enter 2012. UK still number one in Europe for attracting investment

The UK remains Europe’s top among those organisations that with the UK’s leading position in on future competitiveness were: destination for foreign direct have created a firm base in the UK Europe overall: “Trade relations the level of corporation tax, the investment (FDI) with its highest market. James Close, partner at with India, for example, are gaining administrative burden, and the levels number of investments since 1997, Ernst & Young, said that overall the momentum (projects were up from of personal taxation.“ according to Ernst & Young’s annual headline figures for the UK are very 38 to 44 in 2010), but despite the European Attractiveness Survey, positive: “The UK has shown strong number of projects coming into The report shows that 21,000 jobs but it needs to broaden its pool of resilience in the face of adversity, the UK from China increasing (up were created last year in the UK. investors to remain competitive. pulling through the recessionary from 18 to 30) – the eighth most While this was the highest level of years to reinforce our position as important source of FDI projects employment generation in Europe The report, which analyses inward the leading base for investment by into Europe – our figures continue in 2010, it only represented one investment and the attitudes of foreign companies into Europe. to disappoint compared with quarter of the levels achieved in global investors, shows that the Germany’s stronghold on FDI. 1997. Although business and UK attracted 728 FDI projects in “The international business software services still lead in the UK 2010, up 7% on the previous year, community, surveyed as part of “We need to do more to attract both in terms of actual numbers of compared with 562 projects in the report, continues to cite our high-quality foreign investment, projects (285 in 2010) and investor France and 560 in Germany – whose technology infrastructure (89%), re-orientate where that investment perception – 79% of all the global projects rose by 34%, bolstered by its stable social environment (87%), is coming from towards the BRICs executives questioned said the UK’s position as the number one location quality of life, culture and language and manage better our reputation reputation as a leading financial for Chinese investment in Europe (86%) as what makes the UK with all overseas investors, not just services centre kept it attractive since 2007. London by itself attracted the most attractive investment those established in the UK. These – ‘cleantech’ could dominate in more projects than all but France, destination in Europe. We have a are all areas where government has a the future. 19% of all respondents Germany and Russia, with 289 FDI loyal following of foreign investors role to play. If the UK fails to address considered clean technology an projects in 2010 up from 263 in 2009. prepared to do repeat business here these challenges we could start to important growth area for the UK and government has an important see declining investor interest in our The US was still the largest investor market, making it the third most role to keep us in pole position.“ market relative to our competitors. into the UK last year (254 projects) important sector in the eyes of followed by India and Germany (44), However, Close believes that while “Of the 274 global executives investors, up from 10th in 2009. Japan (42) and France (41). Many the UK is slowly improving trade interviewed specifically about However, success is highly reliant of these companies are repeat relations with the BRICs, success at the attractiveness of the UK as an on capitalising on government’s investors, with the UK building up attracting investment from these investment destination, three key commitment to addressing climate a strong loyalty and reputation countries is still below par compared areas to address as having an impact change.

www.businessmag.co.uk THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 Everyone’s different. Fortunately so are we.

At Grant Thornton, we go about our business Norman Armstrong in a different way. We concentrate on building Partner relationships with our clients by focusing on their T 023 8038 1114 individual needs. E [email protected]

We work with many of the region’s most successful Ian Govier companies and are proud to be associated with Partner T 023 8038 1151 the Solent 250. E [email protected] It’s great to be recognised for your achievements. Stephen Mills Partner T 023 8038 1180 E [email protected]

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Grant Thornton’s Solent 250 Sector Watch

remains a significant issue. Realistic, up-to-date Challenges and opportunities in business plans seem to be a must. But what of the opportunities?

logistics within the UK Good, old fashioned customer service Moving the right goods, at the right time, to the Wage cost pressures Whilst cost remains one of the critical issues facing the sector, simply undercutting the competition is right place sounds simple, but as globalisation Vacancies for HGV drivers hit a three-year high becomes increasingly important, the simple seen by few as the answer. You may win business in October 2010 which would seem to imply on price now, but you will be susceptible to losing movement of goods becomes much more pressure for wage increases although anecdotally the same business on price in the future. It is complex. This article will focus on the issues facing in our region those pressures do not seem to be the ability to deliver goods safely and on time UK businesses in the sector. there at the moment, where a number of notable that is providing many with the means to make administrations have kept wage rates down. There Low interest rates and the alleged lack of available themselves stand out from the crowd. So clean, may, however, be pent-up pressure for increases finance appear to be conflicting external pressures well maintained vehicles (and drivers!), reliable where wage freezes have been in place for the past on the level of stock a business wants to hold. timetables, politeness and efficient resolution of couple of years. The reliable and predictable movement of goods problems when they do arise are seen as key. Costs associated with new requirements for on- therefore becomes essential. Use of technology going driver training will also increase costs, but The main challenges facing the sector fall into again perhaps not by as much as initially feared. Much about the administration of logistics is several clear categories: simply having the right ’paperwork’ completed and Environmental legislation processed reliably, time and time again. Fuel prices New legislation (Euro-6) is estimated to add around Working with your clients to gradually replace Increases in duty, VAT and the underlying and £10,000 to the cost of a large vehicle but this may out-dated paper-based systems on to digital media ongoing volatility of the price of oil are issues lead to an increase in vehicle sales as operators try will help improve the productivity of staff, as will that nearly every business in the country faces to buy before the new rules come into effect. utilising larger stock and/or transport and, unsurprisingly, there are no magic solutions. management software. This is likely Careful negotiation of both purchase and sales Availability of finance to be a big investment, but for contracts are a must, with many in the haulage With a large number of smaller those that can make it in industry building fuel escalators into their contracts businesses in the sector, the right software – an wherever possible. This becomes a form of the complaints of such important choice – the hedging - trying to offset the risk of purchase price businesses about the rewards could be rises with the right to increases in revenues. lack of available funding significant.

freight forwarding Ones to watch and warehousing through to supply chain Logistics covers a variety of management, transport and distribution. The businesses as the following company boasts clients selection demonstrates such as Huhtamaki (a global manufacturer of consumer Avient and specialty packaging) and Red For more With offices in Wiltshire and Harare, Zimbabwe, Funnel Distribution. The business combines information about industry knowledge and know how, with African air cargo specialist Avient has seen logistics in this region and best practices, advanced technology and significant growth in the past decade. The experienced staff to drive efficiencies and stay throughout the UK, please contact: company, which has a £52 million turnover is one step ahead of industry demands. represented in 34 countries and boasts a growing Andy Maddocks fleet of trucks and owned aircraft (now operating Import Services Senior assurance manager from Leige Airport, Belguim). During the coming Import Services specialises in retail supply 023-8038-1176 years the company is seeking to increase activities chain logistics. This port-centric business [email protected] in the Asian and South American markets. manages millions of cartons to retailers www.grantthornton.co.uk in the UK and across Europe and provides Meachers Global Logistics support with supply chain logistics to leading Established over 50 years ago, Meachers supermarkets and stores such as Tesco, Global Logistics based in Southampton is an Sainsbury’s, John Lewis, Toys R Us and WH independent provider of logistics services, from Smith.

www.businessmag.co.uk THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 Case study – Peters & May (no. 38)

Specialist marine transport provider Peters Holley, who during his time in the USA led a & May reported significant growth in export team which secured significant contracts with volume for the first two quarters of 2011 in the key boat builders (and was the driving force in wake of making bold changes, encouraging setting up Peters & May Racing) has focused on news for the marine industry, as it indicates a developing his team, bringing a personal global recovery in the marine manufacturers’ sector. career perspective to the Eastleigh headquarters. Providing worldwide yacht transportation “We want to retain and develop good people; the marine team is young overall, and energetic, services to more than 5,000 vessels each year but this is balanced by experienced people via sea, road, rail and air, and with a turnover throughout all of our teams.“ of £58 million, Peters & May and Peters & May USA Inc are the preferred shippers for many The group is spending more on a marketing leading marine manufacturers, whilst Peters & mix comprising social media, advertising, May Global Logistics provides transportation sponsorship and attending more boat shows, solutions to niche areas including aid and relief, key in keeping the brand high profile. Holley abnormal cargo and also offers international explained: “With fewer boats to ship and more express courier services. competition in the market, you have to invest in the industry to stay at the top.“ Appointed group chief executive in the spring after several years with the company in the David Holley The US market for smaller boats virtually ceased USA, David Holley has instigated a cultural shift overnight with the recession but is picking which has affected every part of the group. much greater client contact. We have focused up quicker than in the UK, where large boats He views recent growth as extremely positive on adding value because margins are tight and that take longer to manufacture make up the and explained the refreshed strategy: “We had we prefer not to get into a price war.“ majority of the business. a company which was formerly built around Peters & May offers insurance policies on site; it’s Peters & May’s success is testament to adding individuals, therefore a highly personal business, a ‘one stop shop’ when it comes to VAT/export value. With local representatives ‘on the ground’ something which altered when it was sold. advice and the bookings’ system has been overseas, its own loadmasters and cradles, and “I think ‘bold’ is the correct word to sum up what developed in-house, tailored to the constantly flying out staff to supervise discharge if required, we are doing. For example, our former data evolving IT system. Half a million pounds has it’s obvious why customers prefer to pay a little input staff are now key account handlers, with been spent on IT hardware in the past three years. bit more.

news extra

to give something back to the University by Macey said: “It was inspiring to hear Prems talk And the next providing an opportunity for a current student. about what he and his wife have achieved. Their story is a true example of how to survive and Young entrepreneurs had to submit a business even grow a business during times of economic stop is... Mumbai proposal and a five-minute video pitch to judges, crisis. The prize money is a fantastic boost and who were looking for business ideas that were The final of Portsmouth University’s Enterprise both viable and innovative. Winning ideas ranged comes at a welcome time when marketing for Challenge has led to a student winning a week’s from a hoop to facilitate an easier shopping the website and game is vital for its potential work experience in Mumbai with Colvill Banks, a experience to a fantasy football website. success. We will be running a comprehensive global company set up by a former Portsmouth marketing campaign in the summer ready for the Business School student. Gilles Macey was offered the week’s work start of the new football season in August. I am experience in Mumbai, as well as winning £1,750 eternally grateful to the University, the Centre for MBA alumnus Prems Scrampical, guest speaker prize money for having the most advanced Enterprise and to all sponsors who have made at the event, which was held at Action Stations business idea. He will visit India’s business capital this opportunity possible.” in Portsmouth’s Historic Dockyard, founded to see Colvill Banks’ 14,000 sq ft purpose-built Colvill Banks in 2007, a company which provides delivery centre. He and his team created a The annual Enterprise Challenge Awards recruitment research and talent-related European fantasy football game, the world’s first are organised by the University’s Centre for intelligence to executive search firms and fantasy game that offers users the chance to Enterprise, which aims to inspire students to corporations around the globe. He commented select their favourite players from across the five learn and succeed in entrepreneurship through on the value of work experience and wanted best leagues in Europe. developing skills and experience.

THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 www.businessmag.co.uk 14 news extra We should be digging for diamonds in the dirt

Business guests of BDO were advised to look One such ‘diamond’ went by the name of Dyson, for diamonds by industrialist Sir Richard he admitted. As senior independent director of Needham when he gave an amusing and highly- Dyson he has helped develop manufacturing and informative speech at a dinner to mark the sales of its innovatory engines and equipment in publication of the BDO Central South Report*. Europe the US and the Far East. Malcolm Thixton and Sir Richard Needham The ‘diamonds’ in question ranged from “The clever thing about Dyson wasn’t just the innovative products to experienced cyclone technology, but the see-through body production are over. You have to increase your professionals, industry insight to specialist skills, where you can see the dirt, which actually shows gross margins and the only way to do that is Sir Richard suggested, and finding them could people what their Dyson is achieving. through innovation and creating a USP. revitalise an organisation. • “Be creative in your marketing, be different, “James Dyson has always seen his innovation as but always maintain your margins. “Within your own business sphere you have a step to something more, because he knew he • “Value your people, and be frank and open to look at what you have and seek out the was being chased. If you don’t keep innovating with them. Too often people at the top take diamonds. What are those things that make you you have had it, not just innovation in products, the credit rather than give it to those below unique, make you different? What is the mess in but elsewhere in the business process too.“ them. And you should never blame people; your business? How do you link the diamonds Sir Richard went on to give his personal advice always blame the organisation. together and develop a strategy for the for business success: “The lack of deference, the determination to redevelopment that gives your people a feeling • “Get the right strategy in place and the have your say, not to be fearful of the boss, is of hope and opportunity?“ right people to carry it out. Non-executives’ what gives Britain its anarchic creative genius. ‘Finding diamonds’ was a commercial doctrine knowledge and skill should be used to boost It’s something about Britain that gives me total he had adopted for the majority of his career, business and orders rather than merely as a confidence about the future.“ successfully regenerating the economy of Belfast sounding board for management. The dinner for 80 invited guests was hosted by and Northern Ireland and reinvigorating UK • “You can’t afford to have a ‘too hard to tackle’ BDO’s Southampton office lead partner Malcolm exports while a Conservative trade minister in the tray. Everything has to be as nearly right as Thixton and senior partner (international) Kim 1980s and since leaving politics as a chairman, you can make it within your organisation.“ Hayward at the De Vere New Place, Shirrell Heath. director or adviser to 20 firms. • With the emergence of BRIC economies, he commented: “The days of UK low-cost mass * Full text: www.bdo.co.uk/centralsouthreport

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Welcome to Business Solent

commercial opportunities for the benefit of the region. There will also be a growing events programme to promote the Solent region nationally and internationally. In Southampton, Action Groups have had considerable success in a number of key areas. Business leaders interested in everything from transport challenges to the future look of the city have joined forces to share ideas, influence outcomes and deliver solutions. The Digital Southampton Action Group is led by the world authorities in linked data, Professor Nigel Shadbolt and Dame Wendy Hall from the University of Southampton. They are working with business leaders to look at creating a digital cluster that will pull together information on a digital platform. Building on the success of what has been achieved in Southampton, area specific action groups as well as Solent-wide groups such as Solent Events, Solent Logistics and the Solent International Business Alliance are now in development. Together we will achieve so much more...

Champion Programme Solent Champions are the driving force behind Business Solent. The programme enables the business community to contribute to raising the profile of the region, advocate support for and influence With the launch of Business Solent we are putting the business region on decisions on public policy and to drive the map – joining the dots for greater prosperity. The new branding and forward positive change. logo herald a fresh approach to promoting the Solent as a great place to Champions represent all sectors where business leaders unite, providing a powerful work, invest, study, live and enjoy forum for debate, generating ideas and project initiatives for the benefit of the Business Solent will mean more opportunities in their region and collectively they help Solent region. Over 170 leading employers and increased business relations for Champions promote the Solent as a great place to do enable the work of Business Solent for the to get connected within the Solent region business, channel investment and create jobs. greater good of the region. stretching from Chichester in the east to The ethos and success of Business Could you be a Champion? Find out how Weymouth in the west, up to Salisbury and you can help to make the Solent region a Southampton – the ability to listen and actively Basingstoke and down to the Isle of Wight. world-class location in which to work, invest, respond to the needs of business in the city – study, live and enjoy. The focus is to connect business leaders to will be replicated and built on with the creation drive economic prosperity for the Solent of Business Solent where businesses will Details: Leigh-Sara Timberlake, champion region. continue to set the agenda. manager, [email protected] By working collaboratively, Champions have Action Groups across the region will focus 0844-225-3130. greater influence and impact on what happens on issues that need tackling and deliver

THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 www.businessmag.co.uk Economy on the menu at Business Solent breakfast briefing

Champions were given an in-depth review of the local economy at the recent breakfast briefing held at the Hilton Southampton. Kim Hayward, senior audit and international liaison partner at BDO gave his appraisal of how the top 150 companies in the region have been performing – and the opportunities for overseas business in the current economic climate. While it was true many sectors such as leisure and hospitality had come through difficult times, Hayward said the depths of the recession are behind us. “Overall this is still a good place to do business with confidence,“ he said. Looking at opportunities for trade overseas, he said there was a definite shift in power from the west to the east. “By 2030, two thirds of the world's middle classes are going to be Chinese – and they want western technology and brands. From left: Nathan Cook from Hilton Southampton, Henry Pavey from Southampton City Council, Sally Lynskey from Business Solent and Kim Hayward from BDO “There are also emerging markets with Nigeria, Colombia and Taiwan.

“They offer opportunities for technology led Henry Pavey, strategic partnership manager He explained: “Southampton Connect is about businesses to explore some of these markets – at Southampton City Council, talked about action and collaborative working, peer support, so don't leave it too late to take a look,“ he said. Southampton Connect. bringing something to the table and getting results.“ Sally Lynskey, CEO of Business Solent, said: 13 key umbrella agencies representing public, “Clearly there are opportunities that local private and the voluntary sectors, including With £65 million due to be cut from council companies and organisations should explore Business Solent, have joined the successor services in Southampton by 2014, new ways are with global markets – and it is worth keeping body to Southampton Partnership looking for a needed to meet the needs of the city, said Pavey. track of emerging countries.“ new way to work together building on existing “It's about sticking together and working Turning to opportunities closer to home, networks and relationships. together to make a difference,“ he said. HR professionals agree to work together HR professionals from Champion “The idea for this event came out of the benefit skills and workforce development as a organisations across Southampton gathered public affairs meeting held earlier in the result of this event.“ to investigate the skills agenda in the city. year so it is great to see this become a Ideas gathered during the workshop will be reality. Organised by Business Solent in conjunction circulated to all who attended the event along with Handover HR and facilitated by The Hive “There is a real feeling of energy in the room with a plan to harness the creativity of the Collective, the workshop held at the Best and a willingness to work together. I have workshop and move it forward. Western Chilworth Manor Hotel was the first the feeling this is just the start of something Business Solent CEO Sally Lynskey said: “I have step towards more collaborative working. really big,“ she said. been so inspired and impressed by the energy Around 60 representatives from across Ideas coming from the group included how and commitment that everyone has brought to the public, private and education sectors to tackle challenges with communication, the workshop. discussed the challenges facing organisations motivation and innovation. “It is all about collaboration and working in the city and what can be done to overcome Facilitator Sarah Cooney from the Hive together. Business Solent can facilitate, them. Collective said: “There seems to be a real connect and promote what you are doing – by Kirstie Loveridge, director from Handover HR, willingness to take this forward and I am working together business leaders connect for said she was delighted with the response. optimistic that real progress will be made to economic prosperity.“ www.businessmag.co.uk THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 17

Major sporting events planned for region

The critical role of sport in the future prosperity of Keynote speaker Geoff Holt MBE told his Southampton Boat Southampton was the topic for the latest Business inspirational story of how he had triumphed Show sponsor Solent Working Lunch in association with the over adversity in the face of overwhelming Southern Daily Echo and The Coast. setbacks. reinforces commitment Business leaders were given an update on some A promising career sailing luxury yachts around to the region by of the major sporting events that are set to bring the world was cut short when he broke his neck thousands of people to the city this summer and leaving him paralysed from the chest down. becoming a Champion further raise the profile of Southampton and the He told the audience at Kuti's Royal Thai Pier region. how he put all thoughts of sailing from his mind Commercial director at the Rose Bowl, Zac Toumazi, as he built a new life and came to terms with his explained the preparations underway for the first disability. test match at the Rose Bowl, ahead of England v Sri Many years later having carved a niche Lanka, and what it could mean for the region. in marketing, Holt explained how he was “The development of the Rose Bowl will help to encouraged to get back on the water in a put Southampton firmly on the map as a place to specially adapted craft and once again he was do serious business and enjoy yourself,“ he said. captivated. Over the five days of the test match, 43,000 visitors “I realised sailing t just a part of my life, it was my are expected and they will drink 20,000 gallons of life,“ he said. beer and consume 12,000 burgers. Since then he has sailed around Great Britain PSP, sponsor of the PSP Southampton Boat Show, On Sunday July 31, the Clipper Round the World and across the Atlantic – even visiting the beach has further dedicated its commitment to the Yacht Race will set off from Southampton and the in the former British Virgin Islands where he had region by becoming a Champion and supporting the work of Business Solent. eyes of the world will focus on Southampton as a his accident. great maritime city. The firm provides worldwide boat transportation, He has worked tirelessly to champion sailing logistics and freight forwarding services across the Business development director at Clipper Ventures, for the disabled and described it as a real level globe. Jonathan Levy, said the event was predicted to playing field as a competitive sport. bring up to £10 million to the Southampton region. Frank Dixie, PSP's managing director, said: “Many “I believe sport is fundamentally important in of Business Solent's Champions will know of PSP “It will have a huge economic impact. On the society, not just for disabled people but for all of for its work in the marine and boat transportation Friday night before, the race crews will be joined us to get involved,“ he said. industry and its support of the PSP Southampton by families and friends for a farewell knees up and Host for the Working Lunch, editor-in-chief of Boat Show. However, what some may not know is all those people need hotel rooms, they will go the Southern Daily Echo, Ian Murray, said you that companies of all types across Southampton shopping and spend money in Southampton. could not underestimate the importance of and indeed the world rely on our popular logistics “And then there are the thousands of day visitors sport to Southampton and he welcomed the services to handle the important task of delivering we are expecting. This is an opportunity to show major events planned for the city and urged their goods. Southampton at its best,“ he said. businesses to get involved. “Our involvement with Business Solent will allow us to work more closely with companies across Geoff Holt MBE the region and help them to benefit from this vital service, as well as to promote the Solent as a hub for business.“ Sally Lynskey, CEO of Business Solent, said she welcomed PSP as a Champion. “It's great to have PSP joining us as a new Champion. We know PSP as the sponsor of the PSP Southampton Boat Show and it is an event that Business Solent is actively involved with every year. “We look forward to working with the team at PSP, whose worldwide reach will help to further promote Southampton and the wider Solent region,“ she said.

THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 www.businessmag.co.uk 18

Champions of the Solent region

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www.businessmag.co.uk THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 finance 19 'Constantly altering' global economy tops the menu at breakfast event

Last month Barclays Capital Risk Solutions Group invited local businesspeople to a breakfast seminar at the Solent Hotel, Whiteley, to discuss the global economy. Sue Hughes of The Business Magazine reports from the lively roundtable discussion that followed a video address by Paul Robinson, Barclays Capital’s global head of foreign exchange research

Businesses which are directly would send out such a negative to affected by foreign currencies – the global markets.” whether importers, exporters or Childs concluded with a wider service providers – have strong comment: that the global economy opinions on and concerns about is very different and altering the MPC’s decisions and interest constantly due to many factors – rate outlook, inflation and the as diverse and unpredictable as Foreign Exchange market, which natural disasters or more subtle were highlighted when they currency fluctuations. China is gathered at the Solent Hotel, supporting the Eurozone and the Whiteley, for a recent Barclays US because it needs people to buy Capital Risk Solutions Group its goods. However, Murray said seminar. another factor to be considered Delegates represented a range of was social unrest, an area where sectors, from marine electronics no one can look into a crystal ball to global travel resourcing, and and predict a pending crisis, or the included a company which sources upturn. health and beauty products, mainly from China, for distribution in the UK and Ireland. Delegates representing a range of sectors participated in a lively roundtable Attendees The event began with a video discussion at the recent Barclays Capital Risk Solutions Group seminar Xavier Schouller, Peak Retreats address by Paul Robinson, Barclays (ski/lakes/mountain tour operator) Capital’s global head of foreign exchange research, who reflected rages in Greece and Ireland. There having to be rescued is bad for the Chris Oliver, Furuno (UK marine on a time of mixed economic are worries about a double dip UK,” Childs continued, “but in the electronics) growth: “After a less good 2010, recession but I don’t think it’s likely.” short to medium term, the Greek Paul Murray, MD, and Sue there was some fairly solid growth, restructuring programme has been A lively roundtable discussion Coatham, FD, Paul Murray plc but it has slowed again. Real received positively, but it probably began with currency rates (health and beauty distributor income growth has been negative won’t be the last. forecasts. Briggs said that when mainly UK and Ireland, sources for a couple of years because budget planning, forecasts relied “Sterling’s fortunes are very closely mainly from China) consumer confidence has lessened heavily on interest rates. Oliver linked to interest differentials and and house prices have fallen. In Trevor Bishop, FD, Bell Group (IT added that his business relies on the UK we are consuming more there is a lot of risk around sterling Asset Management) the yen, and it follows the dollar. but saving less – and it’s not at the moment. It’s a risky asset Murray bases most of his pricing on Nigel Briggs, HRG Group (global sustainable. High inflation is a big these days, but when the market the spot rate (giving the business travel and resourcing) issue for the MPC, for the economy has the appetite for risk, sterling the ability to sell/purchase foreign and sterling. The VAT rise will stay will recover. Risk management Nick How, financial controller, currency at the prevailing market in the annual comparison for the has to follow alongside setting Garmin (Garmin distribution rate) ‘with a little bit of buffering’. year and commodity prices are budgets,” he warned. Europe) “It’s stood us in good stead, but we displaying alarming rises, whilst do get caught occasionally,” he said. All delegates keep a close eye Ian Workman, head of Solent & sterling remains very weak.” on currency fluctuations as they Dorset, Barclays Corporate For Barclays, Childs’ view was With a weak dollar and huge fiscal undertake day-to- day business, that the global recovery will take Tom Coltman, Barclays Capital issues to tackle, the US economy working with their supply chains, the UK along with it and a mixed needs to rebalance, similar to that distributors or manufacturers Richard Childs, Barclays Capital approach to market conditions was of the UK, thus making the euro (some of whom are overseas) and necessary. His colleague, Workman, appear stronger as the European plan for the future. added: “Wage inflation is usually Central Bank tightens interest rates. the big concern, but you need to be “Its not purely about managing Details: “Going forward, the euro faces prepared because situations such the absolute exchange rate, Ian Workman issues and sterling remains very as the earthquake in Japan have hit clients need to consider peer and 07775-543496 weak in a historical context, but it manufacturing.” competitor activity as well when can’t last forever,” said Robinson. implementing a hedging strategy” “Chinese growth has really driven The euro presented an interesting Childs observed. global recovery to a large extent scenario, because despite bad news and the US will have to tighten from Portugal, Spain and Ireland, “We cannot afford the Eurozone to policy soon whilst the euro crises it remains quite strong. “Countries fail,” added Workman, “because it

THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 www.businessmag.co.uk 20 deals

the rapid growth in mobile traffic. Edwards H.I.G. Europe acquires said: “AIRCOM is incredibly well placed to grow with our clients – more and more of whom are turning to us to help them get the most out of AIRCOM International their networks. With H.I.G.’s support, we can ensure our products and services remain at AIRCOM International, the Leatherhead-based provider of software the cutting edge of the industry.“ and services to mobile network operators, has been acquired by H.I.G. is a leading global private equity firm focused on management buyouts H.I.G. Europe and recapitalisations of leading mid- H.I.G. Europe acquired AIRCOM from Advent Founded in 1995, AIRCOM is headquartered market companies as well as growth equity investments. Since its founding in 1993, International in a deal that sees new capital in the UK, and employs over 900 professionals H.I.G. has invested in and managed more injected into the business to fund AIRCOM’s spread across 14 offices worldwide. AIRCOM than 200 companies worldwide. Including its global growth strategy. AIRCOM, with is market leader in the provision and investment in AIRCOM, H.I.G. Europe has made deployment of network engineering tools, revenues of over £90 million, is the world’s 14 new investments in the past 12 months, and its products are in use across over 135 largest independent provider of network and eight since the start of 2011. planning and optimisation services to the countries by over half the world’s mobile operators. mobile telecoms industry. Its customers Details: Paul Canning include all of the 20 top global operators who Today’s mobile market is undergoing a 020-7318-5700 depend upon AIRCOM’s tools and consultants dramatic transformation, driven by the growth [email protected] to improve network coverage and service in data-hungry devices such as smart-phones www.higeurope.com quality for more than 1.1 billion subscribers and iPads. AIRCOM’s business is built around worldwide. helping the mobile industry to cope with Paul Canning, managing director at H.I.G. these data challenges. It partners with Europe, said: “AIRCOM is already a leader in its market-leading companies including Hewlett Packard and Nokia Siemens as well as working market, and has ambitious plans to grow and directly with blue chip telecom operators such provide a real end-to-end suite of solutions as Vodafone and O2. for the mobile telecoms industry. We look forward to supporting the management and Under the leadership of chief executive Darryl we believe that we can bring added firepower Edwards, who joined the business in October and support for their ambitious growth plans.“ 2009, the company has taken advantage of

Quindell listed on AIM in reverse takeover

Quindell, a Fareham-based technology- executive of the new enabled consultancy and leisure focused business. group of businesses, has been admitted to RSM Tenon acted as the Alternative Investment Market of the reporting accountants London Stock Exchange in a reverse takeover on the acquisition of of Mission Capital plc in a deal advised on by Quindell by Mission RSM Tenon and Blake Lapthorn. Capital and the admission Quindell is led by Rob Terry, the founder of the enlarged group on of The Innovation Group. Terry founded to AIM. This significant Quindell in 2000 as an investment transaction and flotation Peter Vandervelde Jez Filley opportunity while still working at The was managed by Peter from the outset. He led the Blake Lapthorn Innovation Group. Quindell enables Vandervelde from the Southampton Corporate team from the firm’s Southampton office with business efficiency and optimisation, using Finance team in conjunction with Jez Filley assistance from its corporate teams in London from the Reading office of RSM Tenon. its expertise and solutions in technology, and Oxford. Hepworth commented: “The deal, telecommunications, utilities and brand Vandervelde commented: “We are delighted effected by private treaty between Mission and leverage. Through improved business to have worked with Rob and the Quindell the selling shareholders of Quindell, took some process management they help clients with management team on this transaction. We are four months to complete. A variety of solicitors sales, marketing, and cost savings. Quindell, seeing a steady recovery in interest and activity which had a turnover of £4.15 million last from our corporate teams across the south east in flotations and for some businesses and year, went to market on May 17. The market provide a range of legal advice to the Quindell stakeholders, flotation can be the right next capitalisation of the company was £33m management team to ensure the smooth move.” at launch and increased to £40m in early completion of this transaction.” trading. Filley commented: “This was a great Rob Terry, chief executive, said: “The support opportunity for us to work with an exciting Mission Capital will become 92% owned and advice provided to us by RSM Tenon for business at a key stage in its development.” by Quindell investors, with the Terry family corporate finance, and Blake Lapthorn for legals controlling slightly more than a 50% stake. Mark Hepworth, a partner in Blake Lapthorn’s in this transaction in a very tight timescale was Rob Terry will be the chairman and chief corporate department, advised Quindell invaluable.”

www.businessmag.co.uk THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 deals update 21 Latest deals data from across the region

Project Bart Refinance for Direct Wines Holdings Site Intelligence Completion Date: 06/2011 Completion Date: 03/06/2011 Completion Date: 13/05/2011 Target: Centrebet International Customer: Direct Wines Target: N/A Acquirer: Sportingbet plc Value: Not disclosed Acquirer: N/A Deal Value: £118.5 million Details: Refinance a revolving credit facility with a 50/50 split Funding Value: £3 million Details: Placing an open offer to raise £65m and issue of 65m£ between HSBC and Barclays to support the rapid global expansion Details: Acting for Site Intelligence Limited on an equity invest- of 7% convertible bonds due 2016 by Sportingbet plc in order to of a highly successful business. Going forward, HSBC is delighted ment by new investor, Nauta Capital, and its existing shareholders to be the global partner for Direct Wines by supporting its seven fund the acquisition of Centrebet International. The transaction Corporate Finance Advisers: None wil make Sportingbet plc the market leader in Australia overseas offices and international growth Legal Advisers: Manches LLP, Taylor Wessing LLP Funding: Placing an open offer and convertible debt as above Corporate Finance Advisers: N/A Financial Due Diligence: None Corporate Finance Advisers: Oriel Securities (equity) and ISM Legal Advisers: Addleshaw Goddard Commercial Due Diligence: None Capital LLP (debt) Financial Due Diligence: N/A Legal Advisers: Nabarro LLP Commercial Due Diligence: N/A Financial Due Diligence: Grant Thornton UK LLP World Wise Foods Customer: World Wise Foods Deal Value: Undisclosed Details: Lloyds Bank Corporate Markets is pleased to support this Leaders Lettings acquisition strong management team in their new business venture import- Completion Date: 05/2011 ing sustainable pole and line caught Maldivian tuna for major Target: JSM Property Management Project s92 UK retailers. The Trade and Commercial finance facility provides funding through the working capital cycle from shipment to shelf Acquirer: Leaders Lettings Completion Date: 02/05/2011 Funding: Lloyds Bank Corporate Markets Details: HMT Corporate Finance, led by partner Andrew Target: Bond Aviation Group Thomson and associate director Catherine Jones, undertook Corporate Finance Advisers: N/A Acquirer: Grupo Inaer Spain due diligence for Leaders, a regional independent business Legal Advisers: N/A Deal Value: Not disclosed specialising in the letting and management of residential Financial Due Diligence: N/A properties, on its acquisition of JSM Property Management. Details: Bond Aviation Group, a UK group which provides JSM is one of its largest acquisitions to date. JSM operates onshore and offshore helicopter services, was sold by brothers Commercial Due Diligence: N/A from six branches in East Anglia with an active tenancy base Stephen and Peter Bond to Spanish operator Inaer (backed by of circa 3,000 properties, giving Leaders a significant foothold Investindustrial and KKR). Bond provides onshore and offshore in a new region helicopter services to the emergency services, police and oil and AFL Telecommunications acquisition Funding: Lloyds TSB, RBS gas operators Completion Date: 05/2011 Legal Advisers: Dean Wilson Funding: Not known Target: TCC Group Financial Due Diligence: HMT Corporate Finance Corporate Finance Advisers: NM Rothschild Legal Advisers: Not known Acquirer: AFL Telecommunications Financial Due Diligence: KPMG LLP Details: HMT Corporate Finance led by partner Peter Barrand advised AFL Telecommunications on its acquisition of TCC Group, Commercial Due Diligence: KPMG LLP a leading telecommunications network implementation and integration provider based in Bracknell. AFL manufactures Leumi ABL/Bristol & London plc fiber-optic cables and components and provides design, project management and installation services from the USA, UK and Completion Date: 01/06/2011 Germany. TCC which has significant experience in designing, Deal Value: Undisclosed building, installing and maintaining next generation networks Details: Leumi ABL has provided financing to Bristol & London for a number of large telecommunications customers will join plc, the UK’s leading hirer of prestige cars, for drivers who have the AFL global portfolio to provide communications services to been involved in an accident. Leumi ABL provided an invoice European markets Sovereigh Capital's investment in GSoM discounting facility to replace the client’s bank funding in full and Corporate Finance Advisers: HMT Corporate Finance to provide additional working capital Target: Greenwich School of Management (GSoM) Legal Advisers: Thrings Legal Advisers: Squire Sanders Hammonds Acquirer: Sovereign Capital Commercial Due Diligence: RPL Details: Moore Blatch successfully advised on Sovereign Capital’s recent investment in Greenwich School of Management (GSoM), a leading private-sector provider or university-accredited masters and doctoral programmes. The Moore Blatch team of six lawyers, Next Deadline lead by Roger Bailey, advised the existing GSoM sharehold- The next Deals Update will appear in our Project Sapphire ers. Moore Blatch worked with Sovereign in November 2006 September 2011 issue Completion Date: 23/05/2011 when advising on Sovereign’s investment in London Property Target: Newfield Information Technology Maintenance (Cleaning) Deadline for submissions is Wednesday Aug 10 Acquirer: Xerox plc Funding: Additional finance for the transaction has been Submissions are free. If you would like to submit deal information provided by Lloyds Bank Corporate Market Acquisition Finance or to advertise on this page contact: Deal Value: Non disclosable and Sovereign has committed further funding to develop GSoM Tanya Liddiard Details: Osborne Clarke acted for Xerox in connection with its through its “buy and build” strategy. 0118-9745308 acquisition of Newfield Information Technology Legal Advisers: Sovereign - Moore Blatch and GSoM - Jones Day [email protected] Legal Advisers: Osborne Clarke (Sara Valentine & Caroline Financial Due Diligence: Alvarez and Marsal Elcot Publications is not responsible for the accuracy of information in the Drummond) deals update section which is supplied by individual firms

THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 www.businessmag.co.uk 22 profile

The new shape of corporate banking

Compost and coffee: The success PROFILE: Mike of Haskins Garden Centres Donaldson When the economic weather worsens, some businesses actually benefit Relationship Director for Haskins Garden Centre, Santander Corporate Banking – discount shops like Aldi, and even UK hotels, as people holiday at home rather than jetting off overseas. With a key focus on business development, supporting corporate businesses in the Solent region has been Most of us wouldn’t expect garden centres site and seven staff, and Warren quickly a consistent feature of my career for over to be on that list, but Haskins Garden began looking for ways to expand. 20 years. When I first met Jonathan at Centres have bucked the trend – with a little Haskins it was my job to convince him help from Santander Corporate Banking. In 1994 the business relocated to a new that Santander Corporate Banking was 10-acre site at Ferndown in Dorset, with a the bank for them. According to Jonathan Workman, Finance 260-seater restaurant. Following this, in

Director of Haskins Garden Centres, your 1996, Haskins acquired the West End garden Haskins chose us because we took time local plant emporium is one business that centre in Southampton, and completely to understand their business and were

may well have flourished during the redeveloped it. genuinely interested in their plans. We downturn. “We’ve stayed fairly strong “ demonstrated a positive and enthusiastic during the recession. People are cutting back approach and a can do attitude from on new cars and foreign holidays, but …it quickly became clear that the start. they’re spending more time in the garden Santander were the winning instead, and treating themselves to lunch “ combination. At Santander we pride ourselves on with friends at the garden centre.” building long term relationships with local businesses which can only be done Haskins runs four garden centres along the Both were planned as ‘destination’ garden by taking the time to truly understand South Coast, and Jonathan says their current centres, with concessions, restaurants and how the business works, its aims and strength is all down to an unlikely parking – places where gardeners could objectives and how we in turn can help combination: compost and coffee. Shoppers spend a leisurely afternoon. And both centres them achieve their goals. pop in for their garden essentials, and treat quickly bloomed, becoming highly successful themselves to tea and cake at the garden and well-known throughout the South. centre’s café at the same time. improve its successful West End centre. The “The average transaction value at one of our Since then, Haskins has acquired and company never stands still, and will redevelop garden centres is quite low,” says Jonathan, opened two new locations, both in West its restaurant with an extension and give the “but people keep heading in – areas that Sussex. With four garden centres in total, it rest of the garden centre a facelift with brand have done particularly well recently are is now one of the largest independent new shop fittings, carpets and signage.

grow-your-own and the cafés. At our garden centre operators in the country. But Ferndown centre, the restaurant drives it remains keen to grow. When planning for expansion, Haskins

around 20% of sales.” approached a number of banks, and chose “We’ve been looking for opportunities to “ Santander on the basis of pricing and expand,” says Jonathan, “either through attitude. Jonathan says it quickly became clear with the loan from Santander, acquisitions or by developing our existing that Santander were the winning we’re now able to upgrade it to a sites. It turned out that investment was the combination. “I hit it off with the Santander “state-of-the-art garden centre… best way for us to grow, so we’re rebuilding Corporate Banking team straight away – I in Roundstone.” knew they were a team I could work with.” With gardeners still keen to treat themselves, Haskins now plans to redevelop one of its So what next for Haskins? It turns out that – Haskins now has ambitious plans to rebuild newer centres, Roundstone, where planning like most gardeners – the garden centres are its Roundstone centre in West Sussex with permission has been granted for a brand hoping for rain. Jonathan says, “This year, we state-of-the-art buildings and of course, a new building and restaurant facilities. The had the driest spring for 100 years. We new restaurant – which will be one of the expansion is supported with a loan from reached summer early which has affected our largest in the South. Santander Corporate Banking, and will late May and early Junes sales. If we see more create new jobs in the area. rain, then it’s good for gardeners – and good Through rain and shine for us.” In addition, Haskins is keen to But Haskins’ success isn’t just down to luck Gardening and growth continue growing through investment and is on the look-out for additional centres. and good cake. It’s a family-owned business “Roundstone is our oldest building,” says with more than a century of history in the Jonathan, “and with the loan from South, and a stellar record of expansion Santander, we’re now able to upgrade it to If your business could benefit from a throughout the ups and downs of the past a state-of-the-art garden centre, with a new personal approach to corporate banking, few decades. restaurant with 500 covers, much better contact us today: parking and generally a much nicer It was founded in 1882 by Harry Haskins, environment. It should create around 50 Mike Donaldson the great-grandfather of the current owner, new jobs.” Warren Haskins. When Warren inherited the [email protected] business, aged just 20, Haskins had just one With the same loan, Haskins also has plans to or on 07595 403 940

www.santandercb.co.uk BMS JUN 11

www.businessmag.co.uk THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 corporate recovery 23 Corporate recovery should mean precisely that The term 'corporate recovery' has become a euphemism for 'corporate insolvency'. For many companies that is not the case, as James Cowper’s business recovery team explains Whilst it is often true that to save a business there will be a requirement for recourse to administration or liquidation it does not always have to be the case. Key will be the nature and causes of the problems faced by a business and the extent of any cashflow problems – attention to which at an early stage can be the determining factor in whether formal insolvency is avoidable. When, for example, James Cowper was consulted by a hi-tech company working in the field of space exploration, the size of the business had reduced substantially over a number of years. The management, From left: Sue Staunton, Peter Whalley and Sandra Mundy, James Cowper bank and institutional shareholder were all evaluating their options and administration circumstances, they would prove hard, if not A final word of warning: HMRC is proving was a possibility. The company had a very impossible, to replace. less accommodating than it was at the clear idea of its work volumes for at least height of the financial crisis and directors In such situations, one obvious option is to six months ahead and faced a real risk of who allow substantial arrears to accrue risk restructure the finance of the business. By running out of cash. Were there to be any actions to hold them personally liable or agreeing to reduce the level of debt the suggestion of financial problems, however, disqualification from the management of a there was a real risk that key contracts lender assisted management to restore company for a period of two to15 years. would be terminated exacerbating the the company to a viable footing. Such position. By embarking on an accelerated negotiations are delicate and often require Details: Peter Whalley disposal process it was possible to sell an outside adviser to ‘hold the ring’. The 023-8022-1222 the company – ensuring all creditors adviser’s role will be to try to ensure the [email protected]. were paid and some value was secured ‘pain’ is shared as fairly as possible between www.jamescowper.co.uk for the institutional investor (and the all parties for the greater good. management). Insolvency James Cowper’s Business Recovery Underwater Sometimes circumstances dictate that and Insolvency team A recurrent theme arises with management formal insolvency cannot be avoided. Team James Cowper has one of the Thames Valley teams, which perhaps embarked on Precision Pipework was a subsidiary of a US and south coast’s leading corporate recovery leveraged acquisitions prior to the banking group until its turnover dried up following and insolvency teams. The 11-strong team crisis in 2008 and now find that the the financial crash and subsequent operates from offices in Oxford, Newbury, business is no longer able to service the downturn in motor manufacturing. The Reading, Southampton, Henley and London. level of debt burden. In corporate finance company supplied parts for automotive The team prides itself on working with clients parlance such businesses are described as air conditioning and the parent company to achieve the best solutions for debtors – be ‘being underwater’. decided that it was unable or unwilling they companies or private individuals – and to sustain it through a prolonged period their creditors. Another example: the turnover of a of uncertainty. In the circumstances, the consumer electronics business which decision was made to place the company The firm offers a full range of business approached the firm had reduced by more into administration. The administrators turnaround and restructuring support across than half. Nevertheless, because of strong were able to negotiate terms with key a variety of industry sectors. Its focus is to assist in the recovery or rescue of struggling management the company was able to suppliers, customers and staff which businesses however the firm recognises that operate perfectly well in the short term enabled the business to continue. An this is not always possible. When a business until it faced the prospect of breaching expedited marketing of the business was has failed James Cowper can assist in banking covenants and later of being conducted and a buyer was found for it. The choosing the right insolvency procedures to unable to meet scheduled repayments sale resulted in all creditors being paid in minimise losses to creditors and exposure on of loan capital. The shareholders, in full. this instance, were generally unable or the part of directors. unwilling to inject fresh capital whilst they Key to these types of solution is short-term were not receiving a return on their existing cashflow – is funding available to run the investment, and the management felt business whilst a turnaround strategy is left ‘holding the baby’. Unless something developed? Where cash is constrained such could be done, there was a risk that key strategies are not impossible but they are personnel would leave the business. In the made much more difficult.

THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 www.businessmag.co.uk 24 corporate recovery Corporate insolvencies still on the increase

The number of troubled companies falling to reduce their debts. In the south we have into insolvency in England and Wales rose been dealing particularly with a number of for the second successive quarter, with marine leisure retailers in crisis. Perhaps administrations up 22% to 782 in Q1 2011 this can be attributed to consumers no (Q4 2010: 642), according to statistics longer having the disposable income to released by the government’s insolvency buy luxury items. service. “Whilst CVAs have recently been the “The rise in corporate insolvencies results insolvency process of choice in the from a combination of factors that are retail sector, creditors are increasingly dragging economic growth to a snail’s questioning whether a CVA will improve pace. Rising global commodity prices are their ultimate return.“ putting pressure on businesses at the same time that demand is falling,“ said Trevor Meanwhile, the number of companies Trevor O’Sullivan O’Sullivan, partner at Grant Thornton in entering liquidation saw an increase of Southampton. 3.7% to 4,121 in Q1 2011 (Q4 2010: 3,973). large employers are first placed into The latest figures reflect a 2% increase on administration when declared insolvent. “Of particular note is the volume of the same quarter a year earlier (Q1 2010: distressed retailers we are dealing with. Additionally, most companies entering 4,036). This is unsurprising given the rise in input administration are liquidated later, creating prices and increase in VAT which comes “The number of administrations is a more both a lag and double counting effect at the same time as the Government and accurate barometer of the health of the that distorts the liquidation statistics,“ households implement austerity measures UK economy than liquidations. Typically concluded O’Sullivan.

Business owners should take all the Tax services in demand advice they can Bournemouth-based tax advice NatWest and HJS teamed up last month to bring a service TaxNetUK has seen free business advice seminar to Southampton. significant business growth in the past few months, thanks to Local business owners attended a seminar the Budget. aimed at helping them to find out more about the government assistance available to them TaxNetUK has experienced a and how to take advantage of it. The event, at substantial increase in those Kuti’s Royal Thai Pier Restaurant on Town Quay, seeking advice about tax issues, featured representatives from HJS and NatWest from capital gains to inheritance who covered topics including sources of business tax, with many people unsure finance, government grants and maximising tax of their options because of the relief on business investments. Guests enjoyed a recent Budget changes. Having Thai BBQ, drinks and networking. only launched at the end of last year, it has gone from strength Derek Hatton, business development director for to strength due to the Budget NatWest Commercial Banking in Southampton, and new government tax- said: “Having access to advice and guidance from approved schemes. banks and other advisory organisations is vital Graham Wilde to businesses and this event gave people a great Graham Wilde, managing opportunity to chat through their ideas and director of TaxNetUK, has more circumstances and discover the wealth of support than 25 years’ experience in concerned about how it will available.“ UK tax and started his own company in response to a affect them,“ Wilde said. “Some Added Julian Sims, tax director at HJS: “We growing demand for the of the changes are actually believe it is vital for business owners to take all the provision of cost-efficient, good news, for example advice they can, on any matters which can help online tax services to individuals the improvements to the the success of their companies – however long and companies alike. Enterprise Investment Scheme, they may have been in business. Legislation is which increases tax relief for constantly changing, as is government support. “With the recent Budget businesses and individuals Businesses should be taking advantage of any announcements, people are alike.“ support, especially in the current economic climate.“

www.businessmag.co.uk THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 corporate recovery 25 Managing your bank Abe Ezekiel of Penningtons Solicitors LLP examines how SMEs can work effectively with their banks during mutually testing times

Many banks are in the process open finance director. You are has arisen, given the relationship of building their balance sheets subsequently called by someone developed over a number of years, through disposal of non-core you do not know in Specialised don’t be overly defensive. Smooth business, raising money on the Lending who tells you that your the way by trying to be measured capital markets and appraising accounts are being transferred and balanced. their portfolios. Meanwhile, the to this unit. He continues that political and public pressure to although the accounts are not on Secondly, try and find other sources lend money grows unabated, stop, a representative of the unit of finance from a variety of funders (sometimes through independent especially in the SME sector. These wishes to meet you to: Abe Ezekiel competing pressures have created • understand and review the brokers) if there is a threat, perceived or otherwise, that the certain financial situations unique business There are no rules in this situation in the banking field which are • evaluate its security bank wishes to exit the relationship. but a level head, good professional worthy of scrutiny. • determine whether on a going Banks like to sell their products advice, and a clear strategy for to you on the basis of price and Consider this proposition – ABC concern or break up basis the the future are strong attributes to administrative ease. However, bank has provided a number of bank can exit this relationship weather the storm. putting all your eggs in one basket complimentary facilities to you without losing money (overdraft, clearing, hedging and • request you appoint a firm may not be wise in these difficult Details: term loan) for 15 years. You have of turnaround professionals times so consider giving discrete Abe Ezekiel never been in default but because of (another name for an insolvency parts of your lending requirement [email protected] the poor trading environment, your practitioner). to a number of lenders. www.penningtons.co.uk three monthly cashflow projections You are shocked. From the Thirdly, always remember it’s the innocuous call to your relationship are going to be harder to meet. bank’s money. It may have genuine manager to this! But please don’t You ring the bank, not for more anxieties based perhaps more on panic. money but to let your client the lack of understanding of how manager know the state of Firstly, although you may be you do things. Try and make the affairs as you are upfront and an aggrieved by the way this issue complex simple.

“I’d like to introduce you to some of my colleagues” Once you get to know one of our legal experts, you get to know all of us. Teamwork and building lasting relationships with clients are what we’re all about. So if you need help with a legal issue, we’re here to help.

Left to right 11 The Avenue, Southampton, Hampshire SO17 1XF David Charlesworth - Private Client Martin Duck - Land Development Telephone: +44 (0)23 8071 8000 www.mooreblatch.com Claire Haverfi eld - Dispute Resolution Offi ces also in Lymington, Whiteley & Richmond-upon-Thames Peter Jeffery - Company Commercial

THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 www.businessmag.co.uk 26 corporate recovery deals No fire without smoke Moore Blatch swots up on Smoke alarms save lives higher education deal and costly fire damage. An early warning that Moore Blatch LLP has successfully advised on a business is heading Sovereign Capital’s recent investment in Greenwich for trouble can save School of Management (GSoM), a leading private- livelihoods and costly sector provider of university-accredited masters corporate damage and doctoral programmes in business, law and “If people got professional help management when the ‘sparks’ had just started to ignite, I think that nine out of 10 cases Based in Greenwich, London, could be saved or turned around, Sandy Kinninmonth GSoM was established in 1973 and today has over but that’s not the typical scenario,” sources to flag up potential business says experienced business recovery 1,500 students. It has strong and financial risks across a client partnerships with the University professional Sandy Kinninmonth portfolio and supplier base. of RSM Tenon, talking to John of Plymouth and the University of Burbedge. “We believe Tracker’s scope, flexibility Wales and has been an accredited and tailored detail makes it a market degree provider since 1991. In Too often owner-managed leader, and excellent value in terms of addition to degrees, GSoM also businesses and even large restoring control of one’s company, offers a selection of travel and established companies fail to spot and providing management peace of tourism courses in professional the warning signs of commercial mind,” says Kinninmonth. diplomas. distress. Some spot the signs but fail to take the right recovery action Using an early warning system like Dr William Hunt, principal, will soon enough – either through lack Tracker not only helps to bring continue with GSoM and will of knowledge and experience, or stability and confidence to business be joined by Paul Brett as group chairman and Alex Sheffield as because the remedy falls into the ‘too operations, it can also highlight Roger Bailey hard and time-consuming to tackle the need for change – leading finance director. at the moment’ tray. to innovation and market gain Additional finance for the successful completion. With opportunities. Too often entrepreneurs and transaction has been provided Sovereign Capital’s investment, management boards also see the With regular information generation, by Lloyds Bank Corporate Market the transaction enables GSoM to problem as one to be kept secret junior and middle managers can also Acquisition Finance and Sovereign be developed into a multi-site within the company; best handled proactively douse problem embers has committed further funding higher education group with internally by adopting the ‘we’ll work before they become corporate to develop GSoM through its 'buy strong employer links.“ and build' strategy. extra hard to get ourselves out of this fires that burn up valuable senior Moore Blatch worked with mess’ attitude. management time. Dr William Hunt commented: “The Sovereign in November 2006 Kinninmonth has seen it all before. Kinninmonth says the need for his increasing demand for higher when advising on Sovereign’s “When people come to us they have business recovery skills, and those education in the UK coupled investment in London Property ‘zoomed in’ and are micro-managing of his many RSM colleagues, usually with the financial constraints Maintenance (Cleaning). placed on public sector providers aspects that shout loudest at any stems from two main factors: According to Bailey: “This particular time. They lose awareness offers an exciting opportunity • businesses not having appropriate transaction is the latest in a line of the true overall shape of the for the independent sector. systems in place to generate of projects we have worked on in business, their objectives, and where There has never been a better satisfactory management data and London and it is very satisfying it should be going. Directors tend to time for Greenwich School of reporting to us that we are able to continue get diverted onto fire-fighting issues Management to expand its operations. With Sovereign’s attracting such high-calibre work that waste valuable management • people becoming too emotionally to Southampton.“ time and company resources. involved with their business, and investment and support, the not being able to become detached college will be well placed Hunt commented: “We have “When they come to see us, directors when making decisions to become one of the UK’s been delighted with the can be like rabbits in headlights; they largest independent providers support and pragmatism of don’t know which way to turn, they Overseen by RSM Tenon, Tracker of university management Roger Bailey, Jeremy Over and are frozen in time and may be in provides that appropriate system and education.“ the rest of the Moore Blatch denial as well. As part of our services assists from an external and impartial The Moore Blatch team of six team. Indeed, they provided we try to get them to take a step stance. an excellent and professional back and see things from a wider lawyers, led by partner Roger If you are interested in learning more service demonstrating insight angle.” Bailey, advised the existing GSoM about Tracker, email sales@tracker- shareholders and included Jeremy into the commercial as well as Of course with an early warning online.com Over (senior corporate solicitor), legal aspects of the acquisition system in place, seeing the wider Katherine Maxwell (employment process.“ Details for RSM Tenon offices: picture is much easier – and fewer partner) and Julian Parkes Southampton: 023-8064-6464 rabbits get run over. (property partner). Sovereign Details: Roger Bailey Basingstoke: 01256-312312 Capital was advised by the 023-8071-8061 More and more businesses are Bournemouth: 01202-554456 London office of Jones Day. [email protected] becoming aware of the benefits of Portsmouth: 023-9265-8331 www.mooreblatch.com RSM Tenon’s Tracker early warning [email protected] Bailey commented: service – an interactive real-time “We are delighted online monitoring system that to have guided accesses numerous trusted data the project to a

www.businessmag.co.uk THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 property 27

development, start-ups and light Mixed-use business park in industrial operations, with related opportunities in accountancy, sales and marketing. the pipeline for Salisbury Continued Holford: “There is a marked shortage of these kinds of units and strategic location in south Wiltshire. There is no availability of such space at Solstice Park, Amesbury, and there are road congestion issues in Salisbury.“ High Post is on the A345 midway between Salisbury to the south and Amesbury and the A303 to the north. It is one of only four centralised distribution hubs on the market across southern England; the others are at Swindon, Wantage and Thatcham. The facility was formerly occupied by MAHLE Filter Systems, one of the 30 largest companies in the automotive supply industry One of the largest regional Comprising 252,000 sq ft of units from 10,000 sq ft each, and a worldwide, which relocated to distribution hubs of its kind manufacturing, warehousing, further 25,000 sq ft has been signed Shropshire with the loss of more in southern England is set to technology and office space, High up by a national brand. than 500 jobs. be transformed into a thriving Post was placed into administration business park by its new owner. by KPMG last year after the Holford said: “This is fantastic news Extended in 1992, 1998 and 2004 freeholder ran into financial for the local and regional economy. the landscaped site, which has M7 Real Estate, a pan-European difficulties. High Post is clearly an asset with 350 car spaces and 15 lorry spaces, fund and asset management great potential. The aim is to create provides high-calibre production, specialist based in London, Plans are now underway to a thriving, regional commercial high-bay warehousing and a acquired High Post, a 20-acre site transform High Post, which will be employment site with hundreds of detached technical centre for near Salisbury in Wiltshire, for an jointly marketed by Myddelton & people on site.“ research and development. undisclosed sum in a deal handled Major and Warwick Martel, into a by Philip Holford, a partner at mixed-used business park through A refurbished High Post is likely Simon Martel of commercial the Salisbury office of regional a multi-million pound investment to appeal to manufacturing, property consultancy Warwick commercial property consultancy programme by M7. Conversion distribution, freight transport, Martel, based in Romsey, Myddelton & Major. work will create self-contained logistics, assembly, research and Hampshire, advised M7. One Olive and One Lime on the Whiteley menu

A multi-million pound scheme nearby 55,000 sq ft HQ building in for two headquarters buildings 2008 for Zurich Insurance. at Solent Business Park, Whiteley, One Olive One Lime, officially has been unveiled. launched on site to commercial The development would see a property agents across the 25,320 sq ft office, called One region, is either for sale or pre-let, Olive, and a 30,580 sq ft office, with a quoting rental figure of £20 entitled One Lime. a sq ft. Planning permission has been The development will enable granted for One Olive One Lime, companies not only to have with allocation for 202 car parking state-of-the-art offices, but to also spaces. comply with their own corporate The development is a joint one responsibilities for the green From left: Russell Mogridge of Hughes Ellard and Ed Smith of Strutt & Parker by Obsorne, a family-owned agenda and sustainability, as with David Sarlson and Mark Swindall, both of Osborne construction, civil engineering the new buildings will provide and property services company, next-generation construction Strutt & Parker. The bespoke “The beauty is that buyers can and Bell Hammer, which has been techniques. scheme, to be triggered when influence specification of the offices, such as incorporating developing HQ office buildings buyers and/or tenants have Hughes Ellard, the regional solar heating, heat exchange since 2000 and has a 750,000 sq ft signed up, would be completed commercial property agency units and rain water harvesting, portfolio. within 12 months. with offices in Southampton and an opportunity that rarely exists Both companies are familiar with Fareham, is jointly marketing the Russell Mogridge, business space when so many HQs are developer- the location, having completed a development with London-based director at Hughes Ellard, said: driven in design and function.“

THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 www.businessmag.co.uk 28 technology

Blue Chip offers SMEs briefing on secure virtual computing

As the next generation of employees descends upon businesses bringing iPads, iPhones and Blackberries into the office, SMEs not yet embracing mobile technology for their workforce are starting to acknowledge its multi-layered benefits, now and for the future. IT provider Blue Chip has designed a free Secure Virtual Computing Briefing to give SMEs all the information they need about desktop virtualisation, mobile devices and security, by bringing together technology Top: 'Cheers' – staff expertise from Citrix, Wyse and RSA in a at Canotec celebrate single session for a complete overview of being voted the UK’s top provider of green IT what is really involved. relating to document Blue Chip sales director, Anthony Green, management explained this briefing is a significant starting point for businesses researching Left: Tackling the paper chase, David Newman mobile technology as a tool for increasing productivity and flexibility: “Our briefing is designed to spare IT managers and business owners the time and confusion of researching the technologies and their application, with the rare opportunity to talk directly with the experts. “They will demonstrate how the Copier specialist Canotec technology, devices and security all work together, talk about how the application of mobile technology can truly enhance tops the green IT charts business performance, competitive edge and staff retention, and reveal the reality of bottom-line savings and reduced Digital copier specialist Canotec has been the IT profession for the way we’ve utilised a overheads. named the UK’s top provider of green IT for mix of complementary software and hardware paper-hungry document management. products to make a significant contribution to “We are now of the age where the ability our customers’ environmental performance by to work from anywhere, any time, on any The company, based at Ringwood, won the shrinking their carbon footprint. device is no longer a luxury but the norm. national accolade for reducing paper volumes There is an expectation for flexibility in by as much as 40% for customers through “Our less-paper solutions are dramatically the workplace, which has influenced smarter printing and document management reducing paper waste and related how people approach their working day, technology. Canotec attracted the most consumables, saving customers thousands of regardless of which generation they are votes from the national business community, pounds a month on paper and ink costs whilst from. ahead of six other short-listed contenders. The enhancing operational efficiencies and the Document Management Product of the Year storage and retrieval of digital documents. So “Flexible working has meant that people Award was bestowed in front of 200 industry many companies have paper-hungry document are happier to spread their workload over a figures in London in an event run by Green IT management issues yet fail to get to grips with longer day, whether they are in the office, Magazine. the problem. It is costing them the earth, in on the move, or working from home – or a more ways than one.“ combination of all three – instead of shoe- Through Canotec’s newly-installed less-paper horning it into regular working hours from printing fleet, national law firm Bond Pearce, As well as many law firms, clients include a single premise. which has 700 staff across five offices, recorded high street fashion chain New Look, an average monthly reduction of 432,000 international freesports brand Animal, “This means they are not only able to pages. In one month, 700,000 unnecessary countermeasures specialist Chemring, achieve more for your business, they are pages were purged, saving the equivalent of filtration giant Fairey Microfiltrex and more inclined to, simply because their 84 trees, and the reduction in energy usage for Datacard, a world leader in secure ID and working day has a better fit with their out- the first year alone is equivalent to the power card personalisation solutions. of-work lives. So when there’s a deadline to required to boil 71,568 kettles. Bond Pearce’s meet, a new deal to be worked on, or even The national award is the second within annual paper consumption was previously when the weather prevents the rest of the months; the company, which has 55 staff and twice the height of the world’s tallest building. country from getting to their place of work, a combined turnover of £7 million, was named there’s nothing to stop your business from David Newman, a co-founder of Canotec, said: Technology Provider of the Year at the British flexing with the times.“ “It is an honour to be officially recognised by Legal Awards in 2010 for similar reasons.

www.businessmag.co.uk THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 people 29 Movers and risers ...

• Hampshire business leader Phil Boyle, managing director of talent management specialists The Ramsey Hall Group, has been appointed as the next president of the prestigious Royal Aeronautical Society. Boyle, who heads Ramsey Hall’s Global Aerospace & • NatWest has unveiled a new Defence practice, officially commercial team which will takes over the presidency provide a dedicated and in 2012. Past presidents of individually-tailored service the 17,000 member-strong to businesses in and around worldwide Society include Southampton with a turnover HRH Prince Philip and military of between £2-25 million. aviation pioneer Baden Led by Andy Swift, director Baden-Powell, brother of the of commercial banking for founder of scouting Robert Southampton (seated on Baden-Powell. Boyle is the the sofa on the right), the longest-serving trustee of the locally-based team of more Royal Aeronautical Society than 30 staff, includes nine and the current chairman of relationship managers. The the Solent branch. team also includes a business development director, plus specialists in corporate finance, international • Grant Thornton’s personal tax compliance department in Southampton trade, asset finance, invoice has grown with the addition of nine members of staff. The department discounting, private banking has also seen several promotions as part of the recruitment process. and real estate finance. Swift Newcomers include (from right): Leah Ross (executive), Lucy O'Connor said: “I’m delighted that our and Philip Coombes (both trainee associates), Russell Dickie, Sarah commercial clients in the Brown (executive) and Andrew Perkinson. The Southampton tax area can deal directly with a team, headed by partner in tax, Ian Govier (far left), deals with the tax relationship manager who is affairs of businesses and individuals in the south,as well as clients in locally based and committed Oxford, Severnside and the north west. to becoming an active partner in their business.

• Personal injury specialist Moore Blatch Resolve has promoted senior solicitor Anne Cassidy to • Ed Gould, partner of • Lloyds Bank Corporate the firm’s partnership. Cassidy marketing communications Markets has strengthened originally studied biochemistry agency Carswell Gould, has its Thames Valley and surprised his peers by secretly and medicine at St Thomas’ South team with the planning an adventure to the Hospital and worked as a addition of Parul Odedra Arctic Circle. Gould became hospital doctor for two years as relationship manager. involved through client, Hugo after qualification. She then Odedra, an experienced Montgomery-Swan of RIB trained and qualified as a solicitor, corporate banker, will look International, and this month specialising in clinical negligence after a portfolio of clients takes part in the first GORE- claims, covering both medicine in the £15 million to £100m TEX(r) Arctic Challenge using and surgery. She is based at the turnover space. RIBs for six days. firm’s Southampton office.

THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JULY/AUGUST 2011 www.businessmag.co.uk 30 diary/news extra how to reach us Award winners announced Managing Editor & Publisher Winners of the Langtry Manor David Murray 2011 Business Women Awards [email protected] have been announced. Tel: 0118-9745330 Fax: 0118-9744110 The awards, now in their second www.businessmag.co.uk year and becoming a permanent fixture on the Dorset social advertising calendar, caught the attention of 0118-9745308 well-respected business women [email protected] and celebrities throughout the UK. Sales Director Debbie Moore, founder and Tanya Liddiard: 0118-9745308 chairman, Pineapple, said: “The [email protected] opportunity to be a nominee, or editorial even winner of this prestigious award presents a wonderful [email protected] platform to raise the profile of your CATEGORY WINNERS Best Employer (The Coast FM) – Writers: Sue Hughes; John Burbedge; business and the benefit of a great Tanner & Tilley, Roger Tilley Richard Willsher; Alison Dewar New Business Award (NatWest network for valuable information Bank) – Heavenly Bump Small Business of the Year Photographers: Angus Thomas, exchange with like-minded Maternitywear, Amy-Kate Crane (Federation of Small Business) – Dave Marriott, Leigh Quinell women.“ and Kirsty van Deurs Goss Chapter 2, Karen Bidgood & Tracey Cooke production This year there was also an Business Woman of the Future Production Manager additional award: The Judges’ (Women in Business Network) Entrepreneur of the Year Steve Banbury: 0118-9745585 Exceptional Achievement Award, – Hannah Leary, creator of The (Princecroft Willis) – Kia Smith, [email protected] presented by Jackie Phillipson Adventures of Sam Kiki’s and Tara Howard to Joannah Production Editor Best PR Initiative (P-PR Media Carolyn de la Harpe; Eleanor Harris: Lifetime Achievement Award Bishop of Bournemouth Town Solutions) – The CobWebs 0118-9745581 (The Bournemouth Chamber for her outstanding contribution Company, Su Cowell [email protected] to local business, charity and the of Trade & Commerce) – Cheryl community. Special Woman Award (Job Shop Hadland, Hadland Care Group events UK) – Natasha Jones, Leaf Charity Business Mother of the Year (The Events & Business Development Tara Howard, managing director Dot Com Business of the Daily Echo) – Angela Fletcher, Linda Morse: 0118-9745584 of the Langtry Manor, and Jackie Year (Bournemouth Town) – Rock Recruitment Specialists [email protected] Phillipson, managing director of Landlordtolandlordsales.com. P-PR Media Solutions, created the Extraordinary Achievements Sharon Canning administration & accounts inaugural Langtry Manor Business (P-PR & Langtry Manor Hotel) Administration Woman’s Awards in 2010 to Green Business Award (The – Joannah Bishop, Bournemouth 0118-9745330 recognise the efforts of business Green Energy Centre) – Farmer Town. [email protected] women in Dorset and the New Palmer’s Farm Park, Sandra Palmer- Credit Control Forest. Snellin Photo courtesy of P-PR Media Lorraine Buckle: 0118-9745588 [email protected] All major credit/debit cards taken diary – july Published monthly by: Elcot Publications Ltd 5 7 20 2 The Courtyard IoD Hampshire and Isle of Wight Hampshire Chamber breakfast Business Solent informal networking The Old Dairy House guided tour of Harwoods, Basingstoke seminar on increasing profit, Dolphin evening Business Awards, Yuzu Maidenhatch operation. Chance to win a Jaguar XJ Hotel, Southampton. Lounge Bar, Southampton. Pangbourne for a weekend. Details: Details: 023-8068-2520 Berkshire RG8 8HP bookings@businesssouthampton. Details: Claire Fisher, 023-8026-6548 www.hampshirechamber.co.uk [email protected] com print & distribution 14 6 21 Hampshire Chamber networking Circulation: 12,500 Family law seminar, Paris Smith. The Business Solent Directors’ Forum, barbecue lunch, New Place, Shirrell Readership: 53,000 Harbour Heights Hotel, Poole. Dolphin Hotel, Southampton. Heath. 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