Issue 16 - Summer 2011
inMindingtouch Gibraltar’s Business
The GFSB Breakfast Meeting THE 2011 GFSB BUSINESS AWARDS Chairman’s speech at Annual Dinner GFSB Annual Dinner - a member’s report GFSB launches its own Business Agenda The Chief Minister’s Budget Address What Business Thinks Tax Information Exchange Agreements - what do they mean to Gibraltar? 5 Highly Effective Emails Habits Does good graphic design affect website success? Social Media for Business - Is it an effective marketing tool?
www.gfsb.gi Minding Gibraltar’s Business intouch 1
CONTENTS
Issue 16 - Summer 2011
iMinding n t Gibraltar’s o u c Business h
The GFSB Breakfast Meeting THE 2011 GFSB BUSINESS AWARDS Contents Chairman’s speech at Annual Dinner InTouch | Issue 16 | Summer 2011 GFSB Annual Dinner - a member’s report GFSB launches its own Business Agenda The Chief Minister’s Budget GFSB Address What Business Thinks Tax Information Exchange Editor’s Notes 05 Agreements - what do they mean to Gibraltar? Meet the Board 06 5 Highly Effective Emails Habits Does good graphic design affect website success? Social Media for Business - Is it an EVENTS effective marketing tool? The GFSB Meeting 07 www.gfsb.gi Chairman’s speech at Annual Dinner 23rd June 2011 08 Minding Gibraltar’s Businessi n t o u c h 1 Chairman of Baker Tilly Gibraltar retires 10 The 2011 GFSB Business Awards 12 Federation of Small Businesses GFSB Annual Dinner - a member’s report 13 The UK’s Leading Business Organisation GFSB launches its own Business Agenda 14
FINANCE The Chief Minister’s Budget Address 16 What Business Thinks 18
LEGAL Tax Information Exchange Agreements - 22 what do they mean to Gibraltar? A warning to all directors: Is the new Insolvency Act 24 intouch relevant to me? Editorial Director Stuart Rodriguez INFORMATION TECHNOLOGY 5 Highly Effective Email Habits 25 Designed by Does good graphic design affect website success? 26 Piranha Designs Gibraltar Social media for business - is it an effective marketing tool? 28 www.piranhadesigns.com
COMMERCIAL Published by The GFSB Gibraltar Residential Property market - What’s selling, what’s not 29 122 irish Town Commercial landlords... friend or foe? 33 Gibraltar Leisure Events (Gibraltar) Ltd report on a successful Summer 34 Tel: +350 200 47722 Nights Programme Fax: +350 200 47733 Email: [email protected] EUROPEAN UNION www.gfsb.gi ESBA News 36
EDUCATION & TRAINING Disclaimer ISO 9001 - is it helping your business? 38 No part of this publication may be reproduced without the Training courses for business 40 wirtten permission of the publishers. The Publishers have made every effort to ensure that all of the information within this publication is accurate, but emphasise that they cannot accept responsibility for any errors or omissions. The Publishers accept no responsibility for statements made by contributors or for any claim made through advertisements published in this magazine.
Minding Gibraltar’s Business intouch 3 The portfolio of responsibilities have been allocated by the Board as follows:
Chairman Stuart Rodriguez
Vice-Chairman Ian Torrilla
Business & Commerce Stuart Rodriguez
Treasurer Tony Lopez
Employment Gemma Arias (Conditions of Employment Board) (Labour Advisory Board) Ian Torrilla (Employment & Training Board)
Events Secretary Gemma Arias
Environment Gemma Arias
Legal Stuart Rodriguez
Business start-ups/EU Funding Ian Torrilla/Gemma Arias (JLAG, EU Funding Board, Small Grants Board)
Information &Technology Ian Torrilla (E-business Advisory Council)
Education & Training Tony Lopez
Membership Secretary/ Members Benefits John Piris
Shipping/Port John Piris
Banking Michael Borge
Health & Safety Tony Lopez (Health & Safety Board)
Tourism Stuart Rodriguez (Tourism Advisory Council)
Wholesale & Retail Craig Sacarello
International Stuart Rodriguez (ESBA Board)
In Touch Stuart Rodriguez
Design & Branding Julian Byrne
4 inintouch Minding Gibraltar’s Business EDITOR’S NOTES editor’s notes Since our last edition our Board Some of you may have also noticed Mayor, Mrs Araujo and the delegate continues to work hard in delivering that we have a new GFSB office for Gibraltar Affairs, Mrs Barranco. the commitments to members we manager in Jenny Wootley who has Both Ian Torrilla and myself met up set out in various publications. Not joined us at GFSB House on a full- with these Spanish politicians and least, is our delivery of our very time basis. This followed a decision we shall continue to try and develop own GFSB-accredited Business of the Board in having the GFSB opportunities for our members across Courses comprised of 12 modules opening times more consistent with the border wherever possible. normal business hours as opposed –each presented at GFSB House to the reduced offering we gave On a slightly different note, we by business tutors over half-day previously. As a consequence we welcome a more business friendly- events. The cost of the courses are now open from 9-1pm and from budget from the Chief Minister will be a minor nominal registration 2pm-5.30pm. (when compared to increases in fixed charge for members and more business costs of previous ones) and commercial levels for non- In early February 2012, the we hope that this is a sign of things members. Further details of these European Small Business Alliance to come from whoever makes up courses are available on p.36 of will be hosting their Board meeting the next Government Administration. this magazine. in Gibraltar after successful We shall ensure that we, as an negotiations from the GFSB. It is independent Business Federation, Our Annual Dinner held on the 23rd intended to also host a half-day are consistent in reminding the June at the Caleta Hotel proved to be business conference in Gibraltar Government of the day that the a great occasion for attendees and a in conjunction with the ESBA interests of the business community great night was had by all. Special Conference so that our members must be placed at the centre of thanks must be given to our guest can participate and promote their Government decision-making in speaker Mr Balfour who captivated business through networking with order to create wealth, jobs (just our audience with anecdotes and other EU counterparts from the 25 look at some of our EU neighbours!) stories of his business past including countries that will be attending. and quality of life in Gibraltar. some of his recent ones in Gibraltar, which is the latest jurisdiction he We also followed our pledge of Stuart Rodriguez has business interests in. holding meetings with the La Linea Editor
Minding Gibraltar’s Business intouch 5 Stuart Rodriguez Ian Torrilla Tony Lopez Chairman Vice-Chairman Treasurer
Gemma Arias Michael Borge John Piris Secretary
meet the board Julian Byrne Craig Sacarello Alfredo Vasquez One step ahead Planning a strategy
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6 intouch Minding Gibraltar’s Business EVENTS THE GFSB BREAKFAST MEETING To n y L o p e z
The GFSB Breakfast Club Meeting was held on Thursday 16th June 2011 at the Caleta Hotel. The GFSB would like to thank Mr Franco Ostuni of the Caleta Hotel for sponsoring this meeting by providing the conference facilities and breakfast for attendees.
Guest Speaker The guest speaker was Mr Shaun Zammitt from Gibtelecom’s Marketing Department who gave an interesting presentation on Gibtelecom’s existing and future products. There followed a question and answer session which proved to be an interesting and informative session.
The GFSB would like to thank Mr Shaun Zammitt for taking the time to prepare a professional presentation which touched upon all the products offered by Gibtelecom, including an insight into its history.
PRESS RELEASE: July 2011 The Gibraltar Federation of Small Businesses welcomes the recent budget as announced by the Chief Minister. We note that economic growth of 6.5% was achieved and employment in the private sector grew by 3.6%, all of which are positive figures for our economy, particularly when set against the financial woes of other economies beyond our shores.
The GFSB has consistently campaigned against increasing the burden of fixed business costs for businesses as highlighted in the Business Agenda document which was launched at our Annual Dinner on the 23rd June. This document introduces a list of policies and recommendations aimed at influencing Government policy on SME’s. The GFSB is delighted that some of the recommendations have filtered their way through the Budget announcements and hope that businesses receive the vital support and financial breaks that they need to face the future with some optimism.
A GFSB spokesman said ”In particular, members are pleased that there has been a freeze to the systematic increases in Social Insurance contributions of the last three years (10% in 2008, 4% in 2009 and 10% in 2010 respectively) and also the reduction by 50% (from 12% to 6%) of import duty on some selected goods. The reinstatement of the early payment discount for business rates to 20% after it was reduced at the previous budget is also a positive move, although we note that this only applies to the wholesale and retail sector (including bars and restaurants) and not to the whole business community, which is what we would have liked to have seen.”
There was also an acknowledgment from the Chief Minister that some businesses are facing difficulties, a view which we share. Budgets must be viewed across the term of office of a Government and previous budgets have been hard on the business community, so we hope we can welcome further business-friendly budgets as the business interest must always be at the centre of any Government policy if our economy is to continue to be successful
Minding Gibraltar’s Business intouch 7 EVENTS
Chairman’s speech at Annual Dinner 23rd June 2011 Stuart Rodriguez - Chairman
On behalf of all Board Members I possible, with our Spanish counterparts at EU Another interesting project that we are thank you for attending our Annual level through our membership of the European working on is the inaugural “GFSB Business Small Business Alliance. Whilst mentioning Course” which is expected to be available for Dinner and also for supporting the ESBA, I am also thrilled to confirm that our our members as from September this year. work of the Federation. lobbying was successful in obtaining their This business training will encompass 12 commitment to hold their next Board meeting half day courses, split into 4 modules, ranging My goal today is to get us thinking together in Gibraltar in February 2012. This will from “Sales and Marketing” to “Human about the future. witness 20 EU Business association leaders, Resources” to “Business Management” The representing over 1.5 million businesses, visit training will be accredited by the GFSB and It is a future that as many of you know and the rock and we shall, it is the first time that we are participating in, is based on ‘running a no doubt, be making are launching our very business’ and the challenges that SME’s face them very aware of “We can only hope that own business training in Gibraltar. the opportunities despite encouraging accreditation scheme. I that exist in Gibraltar early token gestures am also pleased to inform Firstly, I would like to update you on the for their respective you that there will be no progress that our new Board has made membership. she does not arrive on cost whatsoever to GFSB since our last AGM some 8 months ago. A a Trojan horse as Mr members for participating complete re-structuring of the Federation is You might have realised Sanchez did!! ” in these business courses. taking place with sometimes hard and painful that the common decisions having to be taken. We believe theme running through most of these new So far I have been talking about specific that we are turning the tide with many new initiatives is “networking”. One of our main matters affecting the Federation but there exciting developments coming on stream and tasks, as the GFSB, is to make business are wider issues affecting the business others very close to coming to fruition. happen. Only the other day a member was community in Gibraltar and those who “run telling me how he had picked up two new businesses”. clients at one of our Breakfast Clubs, and this With regards to our In Touch magazine, this is pleasing to hear. Our lives are sometimes like the guy who was continues to bring in vital revenue as well driving a truck on a narrow two-lane road up as keeping our members and the public Looking ahead for the next few months the a steep mountain. He was holding up traffic informed of our work. We would like to Board is now meeting every week (as opposed even further because every few hundred thank our contributors and sponsors for their to every 2 weeks) in order to continue the metres he would stop, get out of the truck support, year in and year out. The beauty of necessary momentum to complete projects and beat the sides with a baseball bat. Finally our In Touch is that we produce it all ourselves and continue our development. one angry motorist behind him shouted “why with Board Members and business leaders are you stopping and beating your truck?” He contributing voluntarily to its work. Very shortly we will be able to man our office shouted back “I’ve got a one-ton truck with at GFSB House from 9 to 5.30 pm as opposed two tons of canaries inside. I have to keep at In the last few months we have launched a to 10 to 3.00 pm, as is the case at present. least half of them flying all the time”. new Website, re-branded the Federation, set- up a Discount Club AND a Breakfast Club for We also welcome the Government’s Whilst we have weathered the economic members, introduced GFSB Business Awards, announcement of the introduction of CCTV storm better than most of our EU counterparts, continue to offer subsidised and heavily into some areas, as most of you know, we it is fair to say that some small businesses discounted ISO training and accreditation for have been a strong advocate of CCTV for the are struggling. They have witnessed a sea- our membership. In addition, we have attended last few years. Equally we must be wary of the change in the way that tax is collected with two international conferences and signed a dramatic increase in business crime which profits having to be paid for in advance every Co-operation agreement with Spain’s largest has affected many of our members, often 6 months. This has placed many businesses Business Association, CONAE. This last feat through unsavoury incidents. Businesses in very tight financial difficulties when taken - signed in Madrid after weeks of exchanges must be protected from crime by the relevant in conjunction with rising fixed business costs, - effectively means that our membership authorities and CCTV is one massive step such as Social Insurance and minimum wage now has a database of 240,000 Spanish in this direction. Let us now ensure that levels. To compound their plight even further businesses to tap into in order to generate this is installed in areas which benefit most – access to Finance has dried up to virtually opportunity and engage with trading partners. businesses and not just a few. zero. Added to the maligned “culture” of late- We have also agreed to co-operate, wherever payment of invoices – including those from
8 intouch Minding Gibraltar’s Business EVENTS some Government Departments and you have partnership with the Business community. more than just one ton of worried canaries to Why must you let yourselves become so We have taken care to be realistic whilst contend with as a business owner. entrenched in tribal adversaries where you pushing the boundaries and request that all sometimes fail to see the ‘Wood for the political parties with aspirations to govern Whilst the rate of taxation on profits has come trees”? Let’s use all the talent available on all Gibraltar consider it seriously and look down to an historical low of 10%, mostly to sides for the benefit of Gibraltar PLC. forward to receiving a formal response. do with the challenges faced by our Finance Centre, this reduction will have little impact on If the equivalent energy being put into Here again, we in business must take a businesses if business costs increase beyond slinging mud at each other was instead leadership role. We understand the bigger any exponential level thereby eating into their committed to helping businesses through picture. We have made the investments that profit margins anyway. Only this year, and meaningful problem-solving we would have are now at risk – as always in business. So without wishing to comment on the flawed less canaries to worry about and more time it is in our best interest to play an active process involved in which the GFSB plays to dedicate to serving our clients and growing role in shaping and enforcing the next no part, Government increased the minimum our businesses. Government – whoever they may be – in wage level by 8%, consequently it now costs sending the message that looking after the businesses with minimum wage employees On the subject of marketing for our territory, Business interest is in everyone’s interest in an extra £780 per employee per year AND we believe that a substantial increase in Gibraltar. Failure on their part to do so will this, just to keep still. budget together with recruiting highly- signal a slowing down of the opportunities experienced professionals with proven track our Business is generating; and in the worse Across the border we have seen the back of records, is required. scenario it could well put some of us out of Mr Alejandro Sanchez, voted out by his own business. people - and this is without any Gibraltarian Mark Twain said that “a rumour can race voting in La Linea!! around the world while the truth is just The way to harness the power of these putting its shoes on”. Gibraltar has started to Businesses is not to protect them, not to sit Joking apart, it just shows how maligned take marketing seriously for a few years now, on them, but to turn them loose, let them go – politicians can use Gibraltar as a “soft” but it must start to move up a level or two if get the managerial layers off their backs, the target. we are to maximise our potential as we are bureaucratical shackles off their feet and the starting to do in some areas but haven’t quite barriers to trade out of their way. Notwithstanding past difficulties it is got round to starting in others. essential to have normal working business We find again and again that every barrier relationships with partners across the border, One other project, that I deliberately failed faced by business is a speed bump that slows including politicians, if we are to maximise to mention earlier, is the Board’s work in us down and deprives us of the quickness we business opportunity outside the local market preparing our very own GFSB Business must have to capture the opportunity that is contributing to a change in attitude across Agenda. out there in abundance. the border. We have consulted extensively with the I mentioned at the outset that my goal today To this end, we have written to the New various business sectors locally with a view was to start thinking a bit about the future. Major of La Linea and have invited her to to making this document as representative of I hope that amongst other things, I have meet us in order to get this process going our members’ views as possible. Its aim is made the case that local businesses must be whilst reminding her of the Agreement that to assist future governments in the shaping placed at the centre of any decision making we signed with CONAE in Madrid several of policy decisions which affect business in process. months ago. In other words, business knows Gibraltar. no frontiers. Since everyone else will be handing out Quoting from the document itself, we state gratuitous advice to those standing for We can only hope that despite encouraging “The key for any government of Gibraltar election, some of which are here today, I will early token gestures she does not arrive on a should be to cultivate our entrepreneurial too. Trojan horse as Mr Sanchez did!! culture by decreasing burdens and costs on business thereby permitting SME’s to flourish. Gibraltarians are entrepreneurial in spirit. Whilst on the subject of politics we will no We stand strong in our call for the creation Do not try to protect them. Appeal to their doubt shortly witness a series of promises of a post of a Minister for Small Business to competitiveness and let them challenge and goodies from all sides of the political assist in the development of such a culture. you to break the barriers that separate spectrum. Lower personal taxes, free this, and slow us down. Keep the Bureaucracy free that. Let me sound a word of warning to On behalf of the Board we would like to take and overburdensome policies away from all politicians “ To make Business pay the cost this opportunity to formally launch our first their business, let them go and watch what of these electoral promises is playing with fire GFSB Business Agenda which makes a series happens. as one day the cow might not be there for it of recommendations to future Governments to be milked”. on what we, the business community, would expect to see from them in terms of measures Also, we would like to see more cross- which impact positively on Business. A copy party committees being set-up working in is available for each of you at our stand.
Minding Gibraltar’s Business intouch 9 EVENTS
PRESS RELEASE: July 2011 Chairman of Baker Tilly Gibraltar Retires
Charles Serruya, Chairman of the Board of Directors of Baker Tilly Gibraltar, retired at the end of June after 30 years with the firm. A graduate of Manchester University, Charles trained as a Chartered Accountant in London, qualifying in 1981, and has been a partner/director since 1986. He was Managing Director of the firm before taking over as Chairman of the Board.
Jose Julio Pisharello and Ian Collinson at the helm of Baker Tilly Gibraltar Baker Tilly (Gibraltar) Limited is pleased to announce the appointment of Jose Julio Pisharello as the firm’s new Chairman with Ian Collinson continuing as Managing Director.
Jose Julio qualified as a Chartered Certified Accountant in 1991. He has been working in practice in Gibraltar ever since and has acquired in- depth knowledge and experience of the local commercial and business environment particularly in the field of financial services. He has been a partner/director since 1999.
Jose Julio was admitted as an Associate Member of the Institute of Financial Services (Chartered Institute of Bankers) after qualifying in 2006. He was, until recently, President of the Gibraltar Society of Accountants, having also served as Deputy President of the Society. Jose Julio has also been a member of the Society’s Executive and Technical Committees and has served as Chairman of the latter.
Ian, who has been a director for eleven years, is a graduate of Hull University, achieving a Bachelor of Science in Economics honours degree. He then trained as a Chartered Accountant in London, in a firm that is now part of Haysmacintyre. On qualifying Ian was approached, and accepted, a position with a predecessor firm in Gibraltar, where he became a partner in 2000.
Ian deals with clients in many industries, including property development, construction, petroleum and local retail, as well as being the audit director responsible for various charitable and non-profit organisations. Ian is a member of the Executive of the Gibraltar Society of Accountants and a former Chairman of the Society’s Training Committee. Currently, he is the Chairman of the Finance Faculty.
Baker Tilly Gibraltar,, an independent member firm of Baker Tilly International, is now 60+ strong and growing, and is a premier audit and accountancy firm, with specialist teams in many areas.
Baker Tilly International is a network of 145 independent member firms in 110 countries. 2,600+ partners and their independent member firms share the insights and solutions needed to provide clients with proactive, timely service and support wherever it is required. Whether in audit, accounting, tax or financial services, the professionals in the Baker Tilly International network serve with integrity and objectivity.
10 intouch Minding Gibraltar’s Business EVENTS
Antonio Jewellers Antonio Diamond 159 Main Street Boutique GFSB DISCOUNT *10% off all 47-49 Main Street products *10% off all CLUB MEMBERS products except Swarovski
Prestige Jewellers Omni Optic Omni Classic Omni Crystal 126-128 Main Street 13 Main Street 132-136 Main Street 182 Main Street *10% off all *10% off all *10% off all *10% off all products except products products products Swarovski
Scala Seawave ACEHOBA Limited Glamour Jewellers 10 Grand Casemates 60 Catalan Bay *Complimentary initial The New Arcade, Square *10% off all network audit (max 30 Main Street *10% off all food 2 hours). 10% off our *10% off all products consultancy rate for products the first 3 months.
Khubchands Esprit Mamma Mia Sphiro Jewellers 55 Main Street Unit 2-8, Ocean Village Pizzeria & Pasta 158 Main Street *5% off most Promenade House *20% off all most products in store *10% off all Boyd Street items in store products except *15% of all Sale items business lunches
Netgear Ltd. Sign It Abecasis Gonzalez Benamor 6 Bishop Rapallo’s 436 Governor’s Street 33 New Harbours 153 Main Street Ramp *10% off all *10% off all office *10% discount off all *5% off all products signage furniture luggage, briefcases in store and laptop cases except Special Offer lines
Highflyer Marketing Subway Camera Mart Euro Electronics 1/22B Casemates Unit 5, Casemates* 135 Main Street 246 Main Street Square 10% off all *10% Off on all *10% Off on all *10% off all business food items except phone items except phone cards, stationery and cards, special offer cards, special offer printing lines and sale items lines and sale items
The Caleta Hotel Pood Ltd/Liiwi Catalan Bay Drinks *10% discount in our *15 % discount from Health and Beauty all the drinks (incl. Club on any treat- Vodkas, liqueurs, ment or gymnasium beers, ciders, gins, membership brandies, energy)
Minding Gibraltar’s Business intouch 11 EVENTS/NEWS THE 2011 GFSB BUSINESS AWARDS Applications are now invited for the 2011 GFSB Business Awards. The GFSB Committee has been encouraged by the response by its members, over the last six years, in achieving ISO Standards with the objective of improving the way they run their businesses and placing importance on their customers. The GFSB has decided to have two Annual GFSB Business Awards to further promote quality standards, business improvement, innovation and achievement for its members.
The two Awards will follow the same lines as last year and will consist of: 1. GFSB Business Award for Quality Standards and Business Improvement – the Gibtelecom Trophy.
2. GFSB Business Award for Innovation and Achievement – the Marielou Guerrero Trophy.
These Awards will be presented to the winning Companies at the GFSB Annual Dinner and will be a worthy achievement for the winners. The prize will be a framed Certificate announcing the achievement, a memento and Free Advertising in our In Touch magazine for one year.
To apply for the Awards, Companies have the option of applying for the Quality Award or the Innovation Award. The awards are open to Members and Non-Members and businesses can apply themselves or can recommend another business that merits the Award. Companies applying for the Quality Award should have achieved the ISO 9001:2008 Standard (not necessarily with the GFSB). Interested Companies have to apply in prescribed form available from the GFSB, outlining their achievements in business improvement, Quality Standards, innovation or achievements.
All submissions will be judged by a panel which will consist of Office Bearers or members of the GFSB Committee and subject matter experts. If you are interested in applying for the GFSB Business Awards please contact the GFSB at email: [email protected] for an application form.
PRESS RELEASE: Staff at NatWest highlight the benefits of online banking to customers In support of its ongoing commitment to service excellence, NatWest’s staff in Gibraltar are encouraging customers to find out about the advantages of online banking.
Since January, staff have been explaining the convenience and benefits of online banking, which include fewer trips into the branch, faster payments and quicker queuing times for those who still need to conduct their banking face-to-face. Customers have responded positively to the initiative, with around 50 a week converting to online banking and NatWest staff have been offering ‘master classes’ to help them become familiar with the facility.
Gillian Balban, Area Manager at NatWest, who has been spearheading the campaign commented:
“Online banking greatly complements the services that we can offer face-to-face in the branch and we are delighted that customers have been receptive to our campaign. Many make numerous trips to the Bank each week and this facility enables them to reduce their visits, which in turn reduces the time they spend queuing and of course, fuel emissions, which is an added bonus!”
“For some customers, online banking is a new concept and we have been showing them how it works and ensuring they are making the most of the facility when they set it up. We recognise that some aspects of banking will still need to take place in branch and these initiatives are all part of our commitment to improving the customer experience in as much as we recognise the Branch can be extremely busy at peak times”
Mrs Balban added that online banking is a secure option: “Customers that set up online banking have personal codes and identification questions to access their online banking which ensure their details remain safe and secure.”
12 intouch Minding Gibraltar’s Business NEWS GFSB ANNUAL DINNER – a member’s report
A very well attended Annual Dinner took place on the 23rd of June at the Caleta Hotel which brought to a close the summer season of annual dinners for local business associations.
As usual the event was very well supported by the members and included the attendance of a range of local businesses, from small retailers and wholesalers to the top brass of large banks and financial institutions. If anything, it goes to show that there is a commonality in terms of the issues that affect all businesses in Gibraltar the continued growth and success of the In have, particularly on small business. ‘The irrespective of size. Touch magazine, the start of FREE business introduction of self assessment and payment courses to GFSB members later in the year, in advance on Company profits, that may The Chairman was also pleased to host at the the introduction of business forums such or may not materialize’, he said, ‘would put head table James Tipping from the Finance as the discount club and the breakfast club unbelievable stresses on these businesses, Centre, Opposition Leader Fabian Picardo, which is already showing signs of success especially when access to finance from local The Minister for Trade & Industry Joe Holliday and the historic signing of the agreement with banks has all but dried up’. and The Minister for Employment Luis Montiel CONAE, Spains largest business association all of whom took in the words of praise by with a view of promoting co-operation and The increase in fixed business costs, with the Chairman Stuart Rodriguez, for the good being able to tap into their 240,000 strong Social Insurance up and a budget busting work and strides forward the Government membership base. 8% increase in the minimum wage, he said had taken in business related matters but would also affect the finances of small and also the critiques particularly in relation He also notified the members of the next medium sized businesses and criticized to the lack of cross party and cross group European Small Business Alliance (ESBA) the Government for not adopting a more consultation in important matters affecting all AGM to be held for the first time in Gibraltar consultative approach to decision making in local businesses. which will allow the GFSB to promote Gibraltar such key issues that affect all businesses in plc and no doubt bring it to the forefront of Gibraltar. The Chairman described the goal of the some European members that may not have Federation as one of promoting growth heard of us before. The launch of the GFSB Business Agenda, and increasing the opportunities for local a paper full of insight on business issues business to strive forward in their desire to be The Chairman welcomed the initial positive having been sourced from the membership, more successful, in his words “we are here to stance of the new la Linea Mayor who will was launched. It highlights the main areas of make business happen”. This was epitamised be visiting the GFSB early in the summer and concern local businesses have and provides by the inspiring words of the guest speaker put it to the membership to embrace this recommendations. The Association suggested Mike Balfour who as the brains behind the opportunity in an attempt to increase the level that any aspiring politicians should consider chain of ‘Fitness First’ health clubs who went of business co-operation across the border. these carefully before making electoral from an office worker on a minimum wage to promises that could not be kept. spearheading the first health club company ‘Growth’ he said though, ‘cannot be stifled by to float on the Alternative Investment Market, bureaucracy and barriers to trade’ and urged With that the Chairman ended his annual now with over 540 clubs and 1.4 million the Government to review those processes address to the guests that raised many members over 15 countries. that were impeding the quick and efficient significant issues and gave all present transaction of business to occur. something to think about. As part of his update the Chairman described the progress the board had made during the He stressed the dire cashflow implications year with the development of the new website, that the new way of collection taxes would
Minding Gibraltar’s Business intouch 13 NEWS GFSB launches its own Business Agenda Aimed at bringing pro-business policies to the fore, the document is a GFSB wish-list prepared following extensive feed-back from members of all industries. It represents a bite-size document for all political parties to consider including in their respective political manifestos under their business sectors.
As usual the event was very well supported In order for the business community to continue to develop to fulfil its full potential, the GFSB has identified the following matters which must to be addressed:
1. Taxation The Issue: There is a general lack of understanding of the implications of the Income Tax Act.
We make the following recommendations: (a) Structured access to be set up allowing small accounting firms and other advisors should be reinstated at 10%. A discount of lending to SMEs. Such a scheme has already to liaise directly with senior officials in the 25% should be applied to either: (i) start- been agreed to by some banks. Government Income Tax Office to consult on issues up companies based in Gibraltar within the backing, however, is required. relevant to businesses based in Gibraltar first three years of trading, or (ii) companies (b) Government should offer tax incentives for for the wider dissemination of information to whose turnover is less than £100,000. entrepreneurs to re-invest their money back client companies. (c) Social Insurance payments should not be into their businesses. (b) Moratorium on penalties under Income Tax used as a form of indirect taxation [Ian to (c) A “One-Stop Shop” should exist whereby Act to be extended for an extra two years. review]. new businesses can visit one site to obtain all (c) Government to commit to returning (d) A commitment to cap increases in the requisite licences to start-up. payments of excess tax within three months electricity and water rates to no higher than (d) Statistics on Invest Gibraltar’s success of payment, otherwise interest to be applied. the level of inflation in any given year. rate in attracting new business should be (d) A fairer categorisation of allowable publically available as well as details on business entertaining expenses. who referrals from Invest Gibraltar are made 3. Fostering an Entrepreneurial to. Culture (e) GFSB would request a place on the Finance Centre Council. 2. Fixed Business Costs The Issue: Setting up an SME is currently The Issue: Businesses have witnessed not [made easy]. We recommend that increasing levels of fixed business no obstacles are put in the path of costs. entrepreneurs that are looking to start 4. Office of Fair Trading (OFT) out on their own. The Issue: There is no Office of Fair We make the following recommendations: Trading (a) No further ‘systematic’ increases in the We make the following recommendations: minimum wage without consultation. (a) Establish Government-backed Loan We make the following recommendations: (b) Discounts for early payment of rates Guarantee Schemes in order to assist banks in (a) An OFT be set up by statute as a non-
14 intouch Minding Gibraltar’s Business NEWS GFSB launches its own Business Agenda
ministerial government department to (f) More exploitation of revenue generating businesses more effectively. regulate fair trading, competition, to clamp enterprises within the product. down on unethical business practices and (g) Address transport problems, particularly in 8. The Finance Sector & Government maintain trading standards. It should be the upper-rock. supporting services (h) Increased levels of training for all ensured that it has sufficient standing to The Issues: individuals involved in the tourism sector. A take the government to court, if this were (i) That the Financial Services more positive and servicing culture needs to required. Commission are not effectively focusing be developed in Gibraltar, where the tourist (b) The OFT needs to have adequate on the high risk areas that are potentially and his/her experience becomes our priority. enforcement powers by granting them harmful to Gibraltar’s reputation. authority under consumer and competition (ii) That there is an improvement in legislation. the marketing of our finance centre (c) The OFT should ensure transparency in 6. Illegal Labour and Unregistered and quality of services provided by Government-awarded tenders and direct Business Gibraltar. applications. The Issue: Companies are having to compete with unregistered business We make the following recommendations: and unregistered employees. (a) Relationships between the FSC and those 5. Tourism they regulate need to be improved. The Issue: Failure to maximise our We make the following recommendations: (b) Regulation for regulation’s sake is to be tourist product. (a) Zero-tolerance on unregistered labour. avoided; high risk areas should be focused (b) Strategy of Labour Inspectors should be on. We make the following recommendations: re-visited. ‘Mystery shoppers’ to be employed (c) A report on the FSC’s involvement in the (a) That a strategy be developed by the to check Gibraltar Business and more Labour Marrache debacle should be conducted. Ministry for Tourism for Gibraltar’s long term Inspectors to be recruited. (d) Government counters should remain open development in the tourism industry and it be (c) More through checks to identify employers in line with businesses hours. Businesses made public. that do not register their employees properly. have deadlines which must to be met and (b) That suitably experienced individuals be are generally delayed because of restrictive recruited to focus Gibraltar’s tourist product. Government practices. (c) Significant financial investment (public 7. E-Government (e) Proper marketing of our jurisdiction and and/or private) to be allocated to update our The Issue: Gibraltar is lagging behind new tax rate regime should be conducted. tourist product. the rest of the EU in terms of accessing (d) A commitment is needed to ring-fence public services online. revenue derived from tourist sites to be re-invested into the maintenance and We make the following recommendations: improvement of our tourist product. (b) Major investment in an IT backbone for all (e) Review strategy currently used to attract Government services. cruise liners to Gibraltar. (c) Government commitment to a roll-out of E-government services that interact with
Minding Gibraltar’s Business intouch 15 FINANCE
The Chief Minister’s Budget Address Monday 4th July
The following points are condensed from the original text. ECONOMIC GROWTH- GDP GDP 2010/11 provisionally estimated at £1 The final GDP billion – growth figure for 2008/9 GDP last year £954 of 5% was £896 million million – grew 6.5% (growth in economy).
GOVERNMENT BUDGET SURPLUS 2010/11 Overall recurrent revenue and expenditure budget surplus of £28.3 million, below previous year’s surplus of £29.4 million.
16 intouch Minding Gibraltar’s Business FINANCE EMPLOYMENT
An extra 525 jobs Unemployment created last year; rate stood at - 1. Construction industry (165), 1.8% 2. Finance Centre (103) 3. Gambling industry (98) 4. Transport & Communications (56) 5. Wholesale and Retail (46) Public sector fell by 41 or just under Increase of jobs by 1% 525 to an all time record of 20,975
The total 20,975 jobs in the economy: i) 15,759 or 75.1% were in the private sector ii) 4,460 or 21.3% were in the Gibraltar 10,706 public sector Gibraltarians in iii) 756 or 3.6% were in the MOD employment, highest ever recorded
Private sector employment Four largest sectors of activity by grew by 546 employment; or 3.6% Wholesale & Financial Gambling - Construction - retail trade - Centre - 2989 2977 2,230 2,722
Minding Gibraltar’s Business intouch 17 FINANCE What Business Thinks
In June 2011, a survey was sent Main Street Traders The replies to this survey revealed a desire out to members and non-members The results received from main street retailers for Gibraltar to attract a younger, wealthier brand of tourist. Businesses saw a need alike to determine what, in their in answering the question what they would request from the next administration covered for a government role in ensuring this, with view, was required from the next three main points: tourism, fair competition, suggested policies including actively looking administration in order to enable and the costs of running a business. Other for new sources of tourism and providing free small businesses to prosper. The recurring concerns included the reality of coaches from the Costa del Sol. Improving signposting and entertainment in Gibraltar results received were surprisingly the economic downturn in Gibraltar, security issues and the reality of running a business generally would also be welcomed. similar, if not altogether surprising. today, with many businesses pointing to This article will tackle the results higher rates, and tax advance payments as Security was also a concern. Increased of two sectors of the Gibraltar problems. provision of CCTV and a greater, more active, police presence were the largely undisputed economy – main street traders and company administrators. This is not to say that these are the most important sectors of the economy – a breakdown of further sectors will be given in follow up articles.
It is the GFSB’s view that small, private enterprise is to be encouraged and it is the GFSB’s aim to both encourage private enterprise to flourish and develop a culture of entrepreneurship in Gibraltar. These aims are served by cutting the amount of red- tape required to set up a small business and providing incentives for those brave enough to start up on their own. The GFSB Business Agenda addresses these points further. However, these aims are best served by listening to the opinions of current small businesses as to what concerns they deem necessary for the government to address.
It is important to note at the outset that the views expressed below are the views of the participants in the survey and do not necessarily represent the views of the GFSB.
18 intouch Minding Gibraltar’s Business FINANCE
way of achieving greater security according answer or not, a body for dialogue between In conclusion, the survey seems to reveal that to the survey. Although CCTV cameras small businesses and the government was small businesses want favourable government are being provided throughout Gibraltar, seen as necessary. policy in driving down their costs, promoting Main Street has not been one of the areas tourism, providing security, and ensuring fair selected for the provision of these devices. The 10% corporate tax found a largely positive competition. Much of this can be seen to Private security systems put in place by Main audience in the respondents to the survey, be only possible if dialogue between small Street traders themselves are used by the with high hopes for the future, as it would businesses and the government is improved, police in investigations. This is seen as a allow investment and improvement for small perhaps through the suggested means of a drain on resources. Despite some concerns businesses. However, some respondents Minister for Small Business. over privacy, small businesses were almost pointed out that the high cost of other unanimously in favour of CCTV in Main Street, charges, such as utilities and rates, as well as Company Administrators as it would increase security for shops, the the need for wages, and especially advance Company administrators are very well placed community, and tourists, by helping to prevent taxes on potential earnings, means that any to inform the Gibraltarian population as to vandalism, shoplifting, and robberies. CCTV profits achieved by these measures were how potential future investors are viewing would therefore not only address security significantly eroded by the significant raising Gibraltar. concerns, but would also decrease the cost of (for example) social security payments. to small businesses. There is a sense coming from them that The survey found that small businesses saw although the 10% corporate tax is a step in The survey found that it was perceived that illegal labour as all too common. As the GFSB the right direction, more is needed by way of government relations with small businesses have pointed out on numerous occasions, this encouraging outside investment. Primarily the were relatively weak, with little help being is problematic because it further creates unfair fact that marketing/business allowances are provided in the areas of competition, tourism, competition. The respondents suggested not confirmed as tax deductible expenses is and security, as well as regarding the costs more labour inspectors be employed, with viewed as detrimental when selling Gibraltar of utilities and rates. Little was also seen more frequent reports by them and a physical as the jurisdiction of choice. Although it is to be done by way of assisting the set up presence of the labour inspectors in town. still unclear as to whether this expense will of a business with the amount of red tape This should be accompanied by stricter rules be allowed, it is thought that the position on faced by business start ups often deemed and appropriate punishment or fines. Another this this is likely to be that such expenses are insurmountable. Dialogue in legislating issue raised was that of unfair competition not tax deductible. seems to be absent, and as a result many from goods from crossing the border with of the respondents favoured the creation of no duty being paid on them and allowing Another point made by a participant is that a Minister for Small Business, which would businesses to sell at them at lower prices. attracting skilled workers to Gibraltar may allow the government to both listen to small A simple solution to this problem would be also be difficult if personal taxation remains businesses and act upon their advice. Whether stricter customs checks. relatively high. The 10% corporation tax a Minister for Small Business is the right in instances where an incoming business
Minding Gibraltar’s Business intouch 19 FINANCE
requires a skilled workforce (with no specialist having what has been termed a “them and Conclusion skill) may be hard to sell, if the individuals us” mentality. Some participants, however, The conclusion to be drawn is that greater attracted to the jurisdiction will then be believed that the recent IMF reports and the dialogue is needed. Government needs to charged tax at a higher rate. FATF reports puts the FSC in good stead. understand the demands of small business in Gibraltar, particularly given that small The marketing of Gibraltar as a jurisdiction In tune with the concerns of retailers, businesses are the generator of jobs and was seen as seriously lacking, with the Company Managers feel that the cost of living the engine of the economy. As stated in our Gibraltar Day in London not receiving positive in Gibraltar has gone up dramatically. This Business Agenda, economic policies must feedback. One respondent claimed that it is reflected in the cost of doing business in be geared to remove unnecessary costs was time to go back to the drawing board to Gibraltar. Increases in electricity and water and over-burdensome regulations for small start thinking outside the box! It was generally rates, as well in social security payments businesses. It is only by taking these steps viewed that more funds should be available are seen as punishing those who seek to do that Gibraltarian enterprise will flourish and a to the Finance Centre to market all sectors business in Gibraltar. culture of entrepreneurship fostered. in the finance industry, rather than having a piecemeal approach by all the participants in the industry. Problems with Gibraltar banks were also By: Gemma Arias, Senior Associate highlighted. The banking services offered by Hassans and Tim Perera Some participants believe that relations Gibraltar were seen to be seriously lacking. between licensees and the Financial Services Gibraltar business is, apparently, crying out Commission are currently at a low ebb, for proper Retail, Commercial and Corporate particularly following the Marrache case and banking services that serve the requirements the subsequent Special Levy. It was seen, of the Gibraltar banking community, rather throughout this sector that the FSC need to than being held to account by executives better understand the industry which they from the Channel Islands and the Isle of regulate and guard against regulation for Man. A possible suggestion (which has been regulation’s sake. The “goodwill” factor mooted on several occasions) was the setting needs to be rekindled so that licensees feel of a private bank for Gibraltar. that they are working towards the same objective as the FSC, rather than the FSC
RECYCLE.GI Gibraltar’s Recycling Specialists
20 intouch Minding Gibraltar’s Business Minding Gibraltar’s Business intouch 21 LEGAL Tax Information Exchange Agreements – what do they mean to Gibraltar? by Craig Pilcher LL.B Associate of legal firm, Perez/Rodriguez There appears to have been a recent trend within the Gibraltar In order to be able to answer the first of my example, placed Gibraltar on their blacklist Government to draft, sign and proposed questions one must understand the and introduced measures to discourage pass into law Tax Information conditions which made such agreements a their citizens and other residents from using Exchange Agreements (TIEA) with necessity. For those familiar with Gibraltar companies incorporated in Gibraltar to buy you will be aware that one of the pillars of properties or conduct business in Portugal. various foreign countries. Between Gibraltar’s economy has been the incorporation As Portuguese companies constitute an December of 2009 and June of and management of companies, trusts etc important part of the business in Gibraltar, it 2011 a total of 15 TIEAs have formed by foreign nationals so as to profit became increasingly important that a TIEA be come into force in Gibraltar with a from Gibraltar’s beneficial taxation framework. signed and implemented by both countries. Up until recently Gibraltar did not tax foreign further 3 still pending. Given this companies incorporated in Gibraltar if they Ok, what is a Tax Information Exchange recent influx of legislation dealing did not make a profit in Gibraltar, this coupled Agreement? with essentially the same subject, with the fact that Gibraltar has access to the The answer to this is quite simple, as the one must ask himself a number European Passport makes it easy to see why name suggests a TIEA is a bilateral agreement Gibraltar is a popular location to incorporate between two parties, whereby they agree to of questions. The first being, what companies, particularly with Europeans. share various aspects of the information held are these so called Tax Information This, as one can easily assume did not gain be each for tax purposes. The main aim of Exchange Agreements and what much favour with foreign governments as it these agreements is help reduce the effect do they do? And the second being, deprived them of a valuable and sometimes of fraud, money laundering and other harmful considerable source of income. Therefore tax practises through the exchange of what effect will these have on some countries, and for the purposes of information. Continuing to use Portugal as an business in Gibraltar? this article we shall use Portugal as the example and having reviewed the contents of
22 intouch Minding Gibraltar’s Business LEGAL this particular TIEA it becomes clear that the agreement encompasses four Portuguese taxes, these are Personal Income Tax, Corporate Income Tax, Local Surtax on Corporate Income Tax and Stamp Duty on Gratuitous Transfers. On the Gibraltarian side things are less complex in terms of types of tax involved as the only encompassed tax is Personal Income Tax.
The Request for the Exchange of Information The request for the exchange of information can only be made by a competent authority of the requesting party and can only be done so when it has exhausted all measures of obtaining the requested information in its own territory. The agreement is also very specific as to the form such a request must take. As per the agreement the request must include the greatest possible detail and contain, in writing, amongst other information, the identity of the person under examination or investigation, the period for which the information is requested and the nature of this information and the reasons for believing that the information requested is foreseeably relevant to the tax administration and enforcement of the tax law of the requesting party . On this point I would like to convey to my readers to not rely solely on this paragraph as a template for the information required for such an application as article five part five of the TIEA goes into much further detail and I would therefore implore all of you to consult the agreement when dealing with a matter such as this.
Although reading the first few articles of the TIEA may alarm individuals seeking to incorporate in Gibraltar due to the apparent ease with which information can be exchanged and requested, the TIEA does not forsake those who have incorporated companies in Gibraltar with the aim of profiting from Gibraltar´s beneficial tax regime. Articles seven and eight of the TIEA make provisions for declining the request for information on various grounds and also for protecting confidentiality and client data to a level equivalent to European Union legislation.
What effect will the TIEA have? From a quick glance at the TIEA there would appear a strong beneficial effect upon Gibraltar as a whole and upon the company management, administration and corporate law sections of the Gibraltar economy. This effect will, in all probability fall into two of various fields, the first being that all companies incorporated by Portuguese nationals or residents should be able to be incorporated in Gibraltar meaning that there will be no need for the extra expense of incorporating in other jurisdiction and having to pay costly agents fees. As a direct consequence of this the number of companies incorporated in Gibraltar will rise and so will their contribution to the Gibraltar economy. The second and perhaps more important effect will be the enhancement of Gibraltar’s reputation as a finance centre by showing that we are willing to work with foreign country to combat fraud and the like due the main aims of this TIEA being drafted for purposes such as these, thereby hopefully encouraging other countries to cooperate more closely with Gibraltar.
In summary I would say that this TIEA should only prove to have great and positive effect on both Gibraltar’s economy and its image and standing as an international finance centre.
Article 5 part 5 of the Tax Information Exchange Agreement between Gibraltar and Portugal
Minding Gibraltar’s Business intouch 23 LEGAL
(i) The general knowledge, skill and experience of a person carrying out the same functions A warning to all directors: as are carried out by that director in relation to that company; and Is the new Insolvency Act (ii) The general knowledge, skill and experience that that director has. relevant to me? You may therefore begin to understand why the subjective element is not particularly Gemma Arias is a Senior Associate at Hassans, Law Firm. For any queries, helpful in these circumstances. What the Act is please contact her on [email protected] effectively saying is that a director is assumed to have the general skill and experience of The 5th September 2011 saw the Insolvent Trading another director in the same circumstances dawn of a new era for insolvency Under the Act the liability for a director in AND the information and experience which the case of a company nearing insolvency the relevant director has. Effectively this practitioners in Gibraltar. Much may be quite severe. It goes without saying demands a minimum standard of competence awaited legislation in the field of that if it can be proven that a director has from the director of a company. Although no insolvency was finally passed and been fraudulently trading it follows that the director will be expected to be Warren Buffet, a new regime for both personal repercussions are quite severe and may a director will be deemed to have the skill of a include criminal convictions. This is both reasonably competent director. and corporate insolvency has been reasonable, to be expected and applauded. put in place. This may seem perfectly reasonable but a The problem is that the director may be guilty director cannot fall back and argue that he did The question many may ask is – how is this of Insolvent Trading (pursuant to section 260 not open an attachment to an email (to give but relevant to me and my practice if I am not of the Act) without necessarily realising that he one example), and as a result was unaware of insolvent? The answer is that the Insolvency is. If a director, prior to the commencement the cash flow situation of a company. If the Act 2011(the “Act”) is highly relevant, of the liquidation of the company “knew or information was in the director’s possession particularly to any business which may be on ought to have concluded” that there was no or was readily available to the director it will the brink of insolvency. It is also extremely reasonable prospect that the company would be deemed that he ought to have known. relevant to any individual or business providing have avoided going into insolvent liquidation, directorship services to any company which the director may be found to have breached Once an Order has been made by the may be technically insolvent. It is important the provisions of the act in relation to insolvent Court pursuant to section 260 of the Act, to bear in mind that the Act allows the Court trading and may be ordered by the Court to the Official Receiver may apply to the Court to look back as far as two years in some make a contribution to the company’s assets. for a Disqualification Order which prohibits instances to determine whether an act done This is, unless the Court is satisfied that after the director from providing directorship by the company was an unfair preference or he first knew, he “took every step reasonably services for a specified period of time. The a transaction at an undervalue. Therefore, open to him to minimise the loss to the consequence of Insolvent Trading are therefore insolvency does not have to be an imminent Company’s creditors”. both personal liability and the possibility of a possibility for the Act be relevant. Disqualification Order being made against the This effectively means that if the director director. The impact of the Act goes beyond mere ought to have concluded that the company insolvencies though. Companies that are would go into insolvent liquidation, there Conclusion looking to borrow money and as therefore may be a personal liability on that director to Although UK Courts have been unwilling to granting a floating charge over their assets contribute to the company’s assets. This is enforce similar provisions against directors of will have to give some thought to how, in the one of the very few instances in law where UK Companies without good cause, the fact worst possible case scenario, the matter of the Court is permitted to pierce the corporate remains that these provisions are in place. insolvency should be handled. The floating veil and make the director personally liable for The Act can be seen to be very creditor friendly charge itself will determine what remedies the liabilities of the company. as would be expected in cases of insolvency, may be available to creditors in the case of where the Court is looking to protect the an insolvency. The test to determine what the director “ought interests of the creditors of the company to have concluded” is both a subjective and and not those of the shareholders. Directors Below we will analyse one of the many ways in an objective test. Normally, a subjective test should therefore bear these provisions in which the Act changes the responsibilities of assists the person who is seeking to rely on it, mind and be alert (though not paranoid!) to company directors. This Article will focus on but, in my opinion, this is not the case in this the possibility of an insolvent liquidation. Insolvent Trading, but there are also provisions instance. The Act states that the test of what relating to transactions at an undervalue, the director ought to have concluded is that fraudulent preferences etc., which will also which a reasonably diligent person having be very relevant to company directors. both:
24 intouch Minding Gibraltar’s Business INFORMATION TECHNOLOGY 5 Highly Effective Email Habits By Tanya Jones, ACEHOBA Ltd
Remember that email is supposed to be a tool for getting a job done? Instead, for many users email seems to have hijacked the working day, leaving them with less and less times to do their jobs. An overflowing mailbox can turn into a nightmare causing stress and reducing productivity. For those Custom, gives the option to personalise the menu that appears click on New Rule. On the that want to regain control of names for the voting buttons, e.g. the names Rules Wizard, under Start with a blank rule, their mailbox, here are five highly of possible venues. The buttons are not visible highlight Check messages when they arrive effective email habits accompanied in the message being composed. However » Next. In the list of conditions, place a tick by five practical Outlook1 tips. the recipients will have a Vote button on the next to where my name is in the Cc box. Message tab. Click Next and choose an action. If you want 1. Set specific time for email the message to be deleted, select delete it. 3. Manage your Inbox regularly Work out how often you need to check your Alternatively, you may want to file it in a folder If you have forgotten what an empty Inbox email and allocate specific “email time” during in which case select move it to the specified looks (and even better, feels like!) set some the day. Do not allow emails to interrupt folder. Click on specified and create or choose rules and stick to them. When you open a new activities where you need to stay focused. the folder followed by OK. Click on Next for email, there are four possible actions: delete Interruptions slow you down and decrease further options or Finish. (don’t become an email hoarder), archive (in productivity. case you need to refer to it later), quick reply 5. Sort your emails automatically (less than four sentences), mark for action Tip No 1 Desktop Alerts notify you when an Organising your emails in a meaningful and (place on your to-do list). Move onto the next email is received by displaying briefly a pop efficient way will make it easier to find them email. up message. To turn them off, go to Tools » later. Based on criteria set by you, emails can Options, on the Preferences tab select Email be filed automatically to folders, auto-replies See Tip No 3 Email reminders are useful Options » Advanced Email Options, remove sent or specific actions can be initiated. For for example when you have a completion the tick next to Display a New Mail Desktop example, group emails together by project, deadline or need to come back to an email at Alert. make important senders stand out or send a later date. They can be set up directly from tasks to others. an email message2. Highlight the message 2. Keep emails short and to the point and right-click on the message Flag icon, Before you start churning out emails, consider Tip No 5 Let’s learn how to file emails to a select Add Reminder. Choose the date and whether email is the most effective medium. specific folder based on the subject content. time and click OK. If you need to write a short novel to get your In addition to the instructions in Tip No4 point across, it is probably better to pick up which are very similar, the easiest way to 4. Don’t copy the world the phone. Keep email content short and create a rule is by right-clicking on an already More than 294 billion emails are sent each to the point. Let the recipient know what is existing message that contains the criteria day3. How many of them are yours? Send expected of them and any deadlines. and selecting Create Rule. Tick the criteria to emails only to recipients that need to know. be checked when the message arrives, e.g. Just because someone else decided to copy Tip No 2 Voting Buttons are useful for keeping Subject contains. Tick Move the item to the the world, does not mean that you should also track of responses in a multiple choice folder, select the folder and click OK. hit “Reply All”. If you get copied in on a lot scenario. For example, if your recipients need of emails, start filtering them into a separate to take a vote on something, open a new 1 Outlook 2007 and Outlook 2010. Some of the features folder. message, go to the Options tab, click on Use discussed may also be available in Outlook 2003 but the Voting Buttons. From the menu that opens, instructions may vary. Tip No4 To filter emails where you have been make a selection, e.g. Yes; No. Selecting 2 Works with Exchange, POP3 and .PST files CC’s, click on Tools » Rules and Alerts. On the 3 April 2010 statistics supplied by the Radicati Group.
Minding Gibraltar’s Business intouch 25 INFORMATION TECHNOLOGY Does good graphic Imagine you enter a shop, the logo looks like price. They either connect and feel they are in it was designed by a child, there are sheets the right place or leave. of paper stuck on the walls with hand written design text on them. The tiles are all misaligned Website owners need to look at their on the floor. The walls are painted in bright websites objectively and ask this type of contrasting colours which almost hurt your questions: eyes. The display units are huge, but the affect products are tiny. None of the products have • Does my site look attractive and clear labels or prices. You look for a shop professional? assistant but can’t find any. After a few • Does my website properly reflect what we minutes you give up and leave. do? website • Would a complete stranger know how we No business owner would ever want to have a can help them within 10 seconds of visiting shop like that one, and no client would bother our site? success? wasting time in that store. However, when it • What is the overall message my site is comes to the online store/website it is often sending? forgotten that we are dealing with the same • Do I have clear calls to action? person and the same issues. • Is it easy for someone to find what they are looking for? Some excellent businesses have terrible • Is my contact information obvious? websites. Badly designed, disorganised, In my experience I have seen some difficult to navigate and just not user friendly at incredibly convincing results that good all. The Stanford Web Credibility Project found graphic design can positively increase sales. that 47% of users make buying decisions based upon the site itself. This implies that One particular ecommerce site is our if the site looks professional and has good best example of this: graphic design it can heavily influence sales. So much so that nearly half your customers • The site was consistently selling around can make a buying decision without having to 6000USD per month before we took it on. shop around, or doing off-site research. • Without any further advertising or increases in traffic, but just by applying a This seems extremely obvious in the physical totally revised look the site sales shot up to store example explained above, but for some 10,000USD per month instantly. reason it is often disregarded when creating • The second redesign of the site, after a website. Whilst in a physical store you may extensive user testing has again increased have up to a few minutes, on the web you only sales to 13 – 15,000USD per month. have 10 seconds to make an impression. Don’t forget that your website can say a lot for 10 Seconds your business. Make sure your site is saying In the first 10 seconds of arriving at your site the right things. many users will have already made a decision in their minds. In this time visitors gather a By Julian Byrne, Piranha Designs Gibraltar. large range of impressions: company quality www.piranhadesigns.com and size, product range, product offering and
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The ongoing argument about whether or not Social Media is an effective marketing tool in this new age of business computing can be put into perspective in the Burson- Marsteller Fortune Global 100 Social Media Study which shows that large international companies are active participants in Social Media platforms in the workplace.
Facebook and Twitter are the top two social platforms used. Strangely enough it is Twitter that is emerging as the leader amongst the world’s largest corporations: 77% of the Fortune Global 100 has a Twitter account, while 61% have a Facebook page. YouTube (57%) comes in third place, followed by corporate blogs (36%). The companies in the report use Twitter in a variety of different ways, including providing company news/ updates (88%), customer service (40%), to Being active, dedicated, and extend the reach offer deals (28%) and to release career and and consistent in your “Strangely enough it is Twitter of their company/brand job information (10%). use of Social Media is that is emerging as the leader around the globe. Of essential. This means amongst the world’s largest course, each business One in four FG100 companies (25%) use all 4 that you must have an is individual and you corporations: 77% of the platforms studied—Twitter and microblogging, understanding of the have to make the Facebook and social networking, YouTube and way Social Media works, Fortune Global 100 has a Twitter decision as to whether video sharing, and blogging—up from the and the potential that it account, while 61% have a yours can benefit from 20% that did so in 2010. Interestingly, 83% has to add value to your Facebook page.” using Social Media. of European companies now have Twitter business. Your employees accounts, up from 71% in 2010, and follower will ultimately become the driving force The real question is - can you afford not numbers have more than tripled. behind that. Empowering your employees to? will enable them to use Social Media in the If you are considering implementing a Social most effective way and if your business is Media marketing campaign in your business successful, they will be successful too. it is essential that you have a well planned strategy from the outset, and one that is Social Media is an ongoing effort and to monitored on a regular basis. It is a good idea achieve good results you have to keep up to have a clear Social Media policy in place, daily interaction with your target audience. It making sure that employees know exactly doesn’t matter that your company is not in what is, and what isn’t, expected of them. the Fortune 100. Small business owners can benefit from this powerful form of marketing
28 intouch Minding Gibraltar’s Business COMMERCIAL
Gibraltar Residential Property Market – What’s Selling, What’s Not
I’m writing this article whilst on mortgages have driven rental values up for the What’s selling... holiday in the UK. Here, one cannot fifth month in a row.” Investors are active in the Gibraltar property escape the fact that the newspapers market. This is to be expected for two related Gibraltar statistics reasons. Firstly, as our jurisdiction attracts a are awash with property price In Gibraltar, statistics are hard to come by. The high proportion of high net worth individuals, a statistics, nearly on a daily basis. Government’s Statistics Office was created fair amount of these individuals’ capital will find This is because the performance of in 1970 to compile and present before its way into property, a very well understood and the property market is so important Parliament, reports on employment, tourism, preferred asset class. Secondly, the buy-to-let hotel occupancy, and air traffic, and to assist model is alive and well in Gibraltar because to all sectors of UK society. the Census Commissioner on the production of with record levels of employment, there is the 10 yearly census. The Statistics Office also strong demand for rented accommodation “Property prices in central London reached a provides data on a non-statutory basis, on the from relocating employees. Therefore, the type record high in July, fuelled by growing demand economy (imports, exports, inflation, GDP etc) of property selling to investors is good quality from overseas nationals, particularly Europeans, and demographic data. But nothing on property apartments, with minimal maintenance issues, seeking to escape economic instability back prices or sales volumes. attractive to the rental market and located in home, according to the latest Knight Frank good proximity of amenities. report.” reported the UK media on 1st August. Hence we hardly see any Gibraltar media reports on property prices, or rising or falling rents, level From a pricing perspective in absolute terms, a Last week, newspapers stated: “House prices in of voids, or yields. Here, the data does not good buy-to let which is easy to let, will probably England and Wales ticked down again in July exist officially and is not provided by any non- cost up to £450,000. Any higher and the tenant and are expected to fall further despite signs statutory body either, hence any quoted data is pool falls away so void periods can be longer. that demand is picking up somewhat, a survey purely anecdotal. Indeed, even the comments by property data firm Hometrack showed.” in this article are anecdotal as I am relying upon In terms of pricing versus market value, here in the data provided by Chesterton, the estate Gibraltar we are quite different from the UK and The week before, Sky News reported “A agents in Ocean Village. hugely different to Spain. We notice that newly shortage of homes and difficulties in securing arrived property buyers from the UK will often
Minding Gibraltar’s Business intouch 29 COMMERCIAL
assume that a 20% - 30% discount to asking swimming pool are in less demand currently away with double digit property price growth price will be acceptable. This figure appears to and have to be priced accordingly to sell. year on year. Everything will sell ... at a price. be10% in Gibraltar, based upon two very recent examples of where a vendor has had to sell Anecdotal statistics Mike Nicholls is a Fellow of the Institute of quickly. As soon as a “discount” of 10% was Unlike the UK, property price movements are Chartered Accountants and a member of offered, there were buyers willing and able to not front page news in Gibraltar because we the Gibraltar Society of Accountants. Mike complete within the week. In Spain, we have do not have the data. That’s not necessarily a owns and operates one of the largest estate noticed discounts around 30% as the norm, bad thing. One could make a good argument agencies in Gibraltar (www.chesterton.gi) rising to 70% in one or two that the publication of and owns MN Associates Limited, a local extreme cases. “A shortage of homes statistics has helped fuel professional consultancy company specialising previous UK property in Gibraltar property investment and relocation. What’s not.... and difficulties in bubbles, which as we Many properties are securing mortgages know only too well, have See www.mn-associates.gi. over-priced. Over-priced have driven rental to burst at some stage. properties are not selling. values up for the fifth Perhaps we did have 10% However, there is still property price growth every month in a row.” a high level of interest year between 2003 and in knowing where our 2007. However, we do not have that now. Yet property market is going, price wise. As an some vendors will convince themselves in the informed estimate, I believe both property prices hope of convincing a prospective purchaser that (up to £450,000) and rental rates (up to £1,950 prices have continued growing at this rate and pcm) in the more popular developments, are price their property accordingly. Such properties, showing signs of slowly edging higher because across every price bracket, are not selling. the supply of quality property within these price brackets is not keeping up with the increasing Secondly, as new companies move into Gibraltar, employment and migration levels. bringing with them, potential buyers of property, so the type of property demanded by buyers Elsewhere, many prices need to be corrected, evolves. Properties with limited or no outside which does not reflect a fall in our property space, or no parking or with no access to a market, just that many vendors have got carried
30 intouch Minding Gibraltar’s Business Minding Gibraltar’s Business intouch 31
“We started Gibraltar Crystal 16 years ago and NatWest has been with us from the beginning - a constant source of support that we have always been able to rely on.”
Stuart Menez, Gibraltar Crystal At NatWest, we’re committed to helping and supporting local businesses. That’s why every one of our business and commercial customers benefits from a local dedicated, professional and experienced Relationship Manager. Their role is to gain a genuine understanding of your business and identify the right solutions to suit your needs.
We are proud to have supported Gibraltar Crystal for the last 16 years and look forward to continuing to support the business for many years to come. To see how we can help you, please visit www.natwestinternational.com/business or call: John Treacy, Senior Relationship Director, Gibraltar T: 00350 200 59041 E: [email protected]
Helpful Banking
The Royal Bank of Scotland International Limited trading as NatWest (NatWest). Registered Office: P.O. Box 64, Royal Bank House, 71 Bath Street, St. Helier, Jersey JE4 8PJ. Regulated by the Jersey Financial Services Commission. Business address: PO Box 11, 16 Library Place, St Helier, Jersey, JE4 8NH. NatWest is the registered business name of The Royal Bank of Scotland International Limited under the Business Names Registration Act. Gibraltar business address: National Westminster House, PO Box 707, 57 Line Wall Road, Gibraltar. Regulated and authorised by the Financial Services Commission, Gibraltar to undertake Banking and Investment Business from 57 and 55 Line Wall Road and 1 Corral Road, Gibraltar. Our services are not offered to any person in any jurisdiction where their advertisement, offer or sale is restricted or prohibited by law or regulation or where we are not appropriately licensed. Calls may be recorded. Internet e-mails are not necessarily secure as information might be intercepted, lost or destroyed. Please do not e-mail any account or other confidential information. COMMERCIAL Commercial Landlords... Friend or ? Foeby Mark Gosen Due to the vagaries of the real world anywhere) then the Commercial Landlord is loggerheads with all the time. most small business owners are the arbiter of its future. The Landlord knows that when a lease ends or any negotiations are I have spoken to a number of Landlords and tenants. I spent 20 years dreaming due, that the Tenant does not want to move. they just think that Small Business tenants are of owning my own business Just the costs of relocation are prohibitive let cash cows to be milked whenever a review premises and charging as much, alone loss of goodwill and trade through time appears on the horizon. They simply don’t care or as little, rent as I pleased and and relocation. The Landlord knows this and about anyone or anything but themselves. preys upon it, unmercifully. The way leases are structured and worded is then splitting the business and always in favour of the Landlord, with phrases the property and retiring happily I have seen it in London and, more worryingly, like “upward only rent reviews” and “break ever after. Unfortunately, I acquired I have seen it in Gibraltar. I have witnessed clauses – in the Landlords favour” is never a business that was located in Commercial Landlords in Gib quite happily going to change. force a business to close because of Central London and required a extortionate hikes in rent. The only small My only piece of advice, gleaned from many large amount of space so that upside is that the unit in question remains bitter experiences, is get the best legal advice dream remained elusive. empty a year later thereby depriving the you possibly can. Read the damn Lease Landlord of rent. Thus demonstrating perfectly yourself as well, it’s painful and stultifyingly However it did give me many opportunities for the abject greed of the Landlord doing neither boring but worth it. Most importantly, don’t be interaction with that fine upstanding friend of him, nor anybody else, any good whatsoever. afraid to walk away from a first property if the business and arbiter of However, this particular Landlord is unreasonable. If you intend to be fair play, the Commercial Landlord was quite in one place for longer than one review or one Landlord. Even as I write “The Law is undoubtly brilliant in his business Lease term, then bear in mind that the work this the hairs on the back on the side of the skills and increased you put in to make your business a success of my neck are standing Landlord, and usually the rents of other units will make those premises more valuable in up as if someone had just the Landlord is bigger to compensate for his the greedy eyes of the Landlord, and he will walked over my grave. shortfall. Since he has want his pound of flesh for it. Just the mention of the and stronger than the done this, two further word Landlord is enough tenant” units have closed. In the interests of fairness, I am sure not to make me reach for the This, to me highlights all Commercial Landlords can be parasitic Whisky and Revolver. perfectly the genius purveyors and possessors of property. capacity for destruction of small business There must be some good ones out there, I, as I am sure all readers are, was a perfect that Commercial Landlords possess. The the Landlord who enters into a long term tenant. I paid the rent on time, took all the worrying formula seems to be that the more partnership with his tenant to improve both of crap the landlord threw at me, fixed the rapacious they are the less they put into the their businesses. The Landlord who is proud damn structure even though that was his maintenance of either the property or any of both his property and his tenant. Well, I responsibility (otherwise nothing would have relationship with their tenants. have only been in business for 30 years and I been done) paid my share of his extortionate have never met one. service charges, including the £5k per The Law is undoubtedly on the side of the annum I had to pay for terrorism insurance in Landlord, and usually the Landlord is bigger It is an Historical thing with Landlords, case his building got blown up. In spite of my and stronger than the tenant. This inequality even Charles Dickens wrote about their evil friendly nature virtually all my relationships means that most of the time there is only doings. Isn’t it about time the balance was with Landlords eventually became adversarial one winner in any battle. I am still at a loss redressed? as their demands became more and more to understand why so many Landlords are outrageous and of course totally one sided. It so determined to chase the last penny at was my job to give and never to receive. any expense, except their own. As with all things in business, a problem can be sorted Why this rant? Well the Commercial Landlord by negotiation and sensible and reasoned forms such a crucial part of a Small Business’ discussion most of the time. In my experience everyday existence and its plans for the Landlords sing from a different Hymn Sheet. future that he is almost more important As with all things I would have thought it is than the Bank. If a business depends on its better to have a happy and settled customer location (i.e. is not able to accommodate itself (tenant) rather than one with whom you are at
Minding Gibraltar’s Business intouch 33 COMMERCIAL Leisure Events (Gibraltar) Ltd Reports on a Successful Summer Nights Programme Village and at Savannah From a business perspective, Leisure Events and Daniel has been believes that Casemate Summer Night’s is an actively involved in the important event in our social calendar and organisation of local one where businesses can render capital music events and from. Over the last five weeks everyone has concerts throughout witnessed restaurants and bars full to capacity Gibraltar and Spain. on both nights of each week. On more than one occasion restaurant staff confirmed that Chris and Daniel decided tables had been fully booked as from early to team up this year to morning during the Tuesday and Thursday. produce a more dynamic This clearly shows that an event of this kind and livelier Summer clearly generates business. Some shops Nights programme. within Casemates Square and Main Street In their opinion they remained opened way past the normal 19.00 strongly believe that closing time. the community at large has very much enjoyed What was offered? the activities and entertainment offered In- keeping with Government’s traditional over the past five policy for Summer Nights, Tuesdays was weeks. mainly driven towards the younger members of our community and their families, so there Their intention was were plenty of activities for the young ones to bring back the to enjoy on stage and around the stage. The Casemates Summer public had the pleasure to present some of Night’s family culture the kid’s favorite animation characters like spirit which was the Dora the Explorer and Ben Tenn. original concept behind the Summer Nights Thursdays were aimed for teenagers and the which the Gibraltar older generation of our community so there For the first time since the Federation of Small were also plenty of entertaining musical and commencement of one of the most Businesses started all those years ago and dancing acts on stage. important events in our social this was precisely the main reason why Leisure Events really wanted to organise this calendar, Leisure Events (Gibraltar) It was felt essential to keep the core acts year’s event. of summer nights local which turned out to Ltd was proud to host this year’s be a great opportunity for experienced and Casemates Summer Nights Casemates Square has a tremendous young upcoming local groups and individuals 2011 programme sponsored potential to stage big events and it is very to showcase their talent in front of the whole important that its use is maximized throughout by the Ministry of Culture and community. Along with this, international the year for the benefit of the general public acts were presented so the local community Gibtelecom. and to assist the business community around could experience a different variety of that area. Leisure Events hopes to be given performances. Leisure Events has Daniel Guerrero and the opportunity to work closely in the not so Christopher Yeats as company directors and distant future with the Ministry for Culture, This year’s Summer Nights commenced on they organised all the functions in accordance Casemates Tenant’s Association and other Tuesday 19th July and finished on Thursday with tender conditions. Both are part of the interested parties to produce more events for 18th August. There were Tuesday and local entertainment industry and between the general public to enjoy. Thursday stage performances for the 5 weeks them have over 10 years experience. Chris is which started from 20.30 to 23.30. very much involved with events held in Ocean
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Also for the kids, the karaoke was re-introduced which had a’ fair’ type of ambience with a few stalls offering activities and facilities.
But in the opinion of Leisure Events, the highlight of the Summer Nights was without doubt the “Casemates Summer Nights Kids XFACTOR 2011”. This was a junior edition so under- 17’s were invited to take part in Gibraltar’s very own X- Factor talent competition. Following a tremendous response from applicants, entry had to be limited to 18 contestants. There was a crowd of over 2000 people on the night that came down to Casemates to support local talent. Bars and restaurants were packed to capacity to see these young kids who had been practicing at home for weeks perform on stage. For some of them this was a ‘first time’ on-stage opportunity.
Hip-hop dancer Genaya Barcelo was the winner but all the contestants performed brilliantly and gave the three judges difficult choices to make. What was clearly evident from this contest is the amount of huge talent that our young kids have and Leisure Events is very proud What did people look forward to? to have showcased this.
The public looked forward to the local favorite groups such as Leisure Events fully supports our local youth and they are well aware “Jetstream”, “The Noize” and the up-and- coming group “This of the many talented young people we have in Gibraltar. Side Up”. A local favorite, Adrian Pizarello and the “EC Band” also took part. Tribute acts are becoming ever more popular with The competition was held on the evening of Tuesday 2nd August from dedicated people making a living imitating and sounding very 20.30 to 23.30 with winners being announced on the same night. much like famous acts and musicians. Tributes acts such as Abba, Michael Jackson, Britney Spears, Kylie Minogue, Christina Finally, Leisure Events would like to thank the Government of Gibraltar Aguilera, Katy Perry and Lady Gaga all participated! They all proved for having entrusted them with the organisation, production and to be a tremendous success with kids and parents queuing up staging of this event and they very much enjoyed the close working back stage to have their picture taken with the “pop stars”!! relationship and the assistance offered at all times by the Ministry for Culture. Professional dance performers from the worldwide brand FAME and the popular internationally known Batuka with Jessica They hope to count with the support of the community at large for Exposito also performed and they kept everyone on their feet by future events. producing an excellent hour of dance aerobics fitness moves. Jessica is now travelling around Europe keeping everyone as fit Report produced by Daniel Guerrero as possible!! She was very elegantly supported by the local GibFit Co-Organiser Leisure Events Gibraltar girls headed by Janine and Stephen Pereira.
Minding Gibraltar’s Business intouch 35 ESBA
News Stuart Rodriguez
The GFSB is one of the founder members of the European Small Business Alliance and we have a directorship and quarterly meetings. This essentially gives us a “heads-up” as to potential new legislation that is coming our way to Gibraltar, or better still ensure that SME’s in Europe are able to influence EU draft legislation so that its interests are protected.
ESBA NEWS HIGHLIGHTS: or its disintegration. There is no third way,” EU’s crucial bailout fund and its expanded Rostowski added. powers to purchase the bonds of indebted Lacking solidarity, eurozone could countries. fall apart: Poland The British-born economist also warned of “two types of dangerous populism” in The upper chamber of the German parliament (WARSAW) - European elites must decide Europe. is due to vote on the new expanded powers of whether they want to co-operate and pay the European Financial Stability Facility (EFSF) a high price for the eurozone’s survival “The first is southern populism -- irrational on 23 September. or to prepare seriously for its “controlled economics which denies taking responsibility dissolution”, a senior Polish minister said. for its own problems. Here I’m referring to But a parliamentary push for equal say on how participants in anti-austerity demonstrations, and to whom bailouts are disbursed threatens “European elites, including the Germans, for example in Greece,” the minister to derail that vote. must decide whether they want the eurozone observed. to survive -- even at a high price -- or not,” A body of opposition is building against Poland’s finance minister Jacek Rostowski “The second populism -- in some northern German Chancellor Angela Merkel and her said in an interview published Monday in countries -- is based on selfishness and a government’s latest version of the EFSF. Poland’s leading Gazeta Wyborcza daily. lack of solidarity with countries in trouble,” he German magazine Focus reported over the added. weekend that 23 members of Germany’s “If not, then there should be serious governing centre-right coalition are gearing preparation for the controlled dissolution of “It’s a simple choice: either solidarity or the up to vote against the EFSF. the zone, with all of the consequences this disintegration of Europe,” Rostowski warned. entails for Germany,” Rostowski said. “This is Even Merkel’s most loyal followers in her the logic of the current situation. Those who Under its 2004 EU entry deal, Poland is own Christian Democratic party (CDU) don’t understand it are playing with fire.” obliged to join the eurozone, now grouping are undermining her authority. Wolfgang 17 EU states, but Rostowski said Monday Bosbach, a long-time CDU member and Ex-communist Poland which joined the Warsaw would enter only when it could be deputy parliamentary leader, has said he will European Union in 2004 and currently holds certain the bloc has implemented the reforms rally against the EFSF. the 27-member bloc’s rotating presidency necessary to overcome the debt crisis. has postponed joining the eurozone in light of A document from the Christian Social Union its ongoing debt crisis. “To enter the eurozone, we must be certain (CSU), also a member of the ruling coalition, that reforms go deep enough,” he said. outlines its rejection of Merkel’s deal with Warsaw has however said it will meet the French President Nicolas Sarkozy on an Maastricht Treaty macroeconomic criteria for German Bundestag rallies against economic government for eurozone states. eurozone entry by 2015. euro bailout fund The CSU paper, to be released today (29 August), will seek treaty changes to European “This is the choice: a great deal more Early polls on an upcoming vote in the German Monetary Union rules allowing bankrupt macroeconomic integration in the eurozone Bundestag show growing opposition to the
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members to leave the euro zone altogether their limited participation in bailout decisions Consultation on promoting Social for ignoring warnings from the EU that they is rising,” Gerhard Schick from the German Investment Funds as part of the are not doing enough to reduce their debts. Greens told EurActiv. Social Business Initiative Meanwhile, the Free Democratic Party (FDP), In addition, the ongoing purchases of another coalition partner, is pushing for the Spanish, Irish and Italian bonds by the DEADLINE: 14/09/2011 EFSF bill to include a veto right for the German European Central Bank (ECB) have been met The consultation seeks feedback on parliament in approving future applications to with caustic criticism by a majority of German possible options for aiding social businesses the euro zone’s rescue fund. politicians, including Finance Minister by means of investments from private Wolfgang Schäuble. individuals channelled through investment “Hysteria is sweeping Germany,” Klaus funds. Investment funds are an established Regling, the EFSF’s director, is reported as As the euro zone’s largest economy, Germany mechanism for matching investors and those saying. makes the biggest contribution to both seeking investments, and could help social financial bodies, the ECB and the EFSF. businesses get funding. Some initial feedback Storm of criticism on the Single Market Act has suggested certain barriers to funding social businesses The president of the Bundestag, Norbert CONSULTATIONS Lammert, has been trying to preserve some in this way might exist, because of the nature calm amid a storm of criticism against Merkel of these businesses, and possibly because and the EFSF, reports EurActiv Germany. Public Consultation on Cloud of existing rules applying to those running The CDU politician tried to play down the Computing funds. Bundestag’s demands to have more decision- making powers on euro bailouts. DEADLINE: 31/08/2011 Suggestions to reduce The Digital Agenda is Europe’s strategy for administrative burdens put on “I assume that the German Bundestag will a flourishing digital economy by 2020. It business by the EU want co-decision on every new application outlines policies and actions to maximise the for a bailout,” Lammert said in an interview social and economic potential of information DEADLINE: To be announced on German radio. and communications technologies (ICTs), This on-line questionnaire has been designed notably via the internet. The development to register your problems and suggestions on The German Green Party does not see much of a European Cloud Computing Strategy administrative burdens. Your input will be point in delaying bailouts under current is one of the actions of the Digital Agenda. taken into account in the preparation of EU economic circumstances but admits that With this consultation, the Commission measures reducing administrative burdens. opposition to the EFSF is building every day. asks stakeholders and interested parties for Contributions and feedback from the their experiences, needs, expectations and Commission will be summarised in periodic “It makes little sense to have the participation insights into the use of Cloud Computing. reports published on the Enterprise and of every single parliament out of 17 in the This input will be used in developing future Industry website. euro zone. We need structures that can act. Cloud Computing policies and actions. But I fear that the number of CDU and FDP parliamentarians who are rightly upset about
Minding Gibraltar’s Business intouch 37 EDUCATION & TRAINING IS0 9001– IS IT HELPING YOUR BUSINESS?
The ISO 9001 Standard has now been used in Gibraltar since 1994 and it is estimated that some 60 to 70 Companies are registered as meeting the requirements. Questions which are usually asked by many Company Directors/ Owners or Quality Managers are:
- Is it helping my business? - Is it all worthwhile? - What are the benefits?
Before answering these questions, one must briefly remind oneself of what achieving ISO 9001 really entails. In my experience the ISO Standard gives guidelines on how to run a business. In most instances, many businesses have achieved success without using the Standard. It is a common sense approach to running a business and many businesses do just that. However by using ISO EQUATES TO PAPERWORK IS A MYTH the Standard it provides you with an aide memoire on a variety of important issues that gives your Company the edge.
For example, the Standard advocates Top Management commitment by ensuring that the Quality Management System is reviewed by having Quality Objectives, stimulating continuous improvement and encouraging Internal Audits which improves the running of the business. Top Management may opt to delegate this task which will get you a Certificate on the wall but without reaping the benefits.
Another very important aspect of the Standard As depicted in the Chart above, the ISO into account all processes that deal with the is Customer feedback and the discipline of has evolved over the years and many three stakeholders (your customers, your obtaining customer feedback with a view improvements have been introduced. A suppliers, and your organization), only then to improving the product or service. The common criticism was the amount of money, will you be able to sustain improvements in broadest definition of quality is “Whatever time and paperwork required for registration. your customer experience. the customer perceives good quality to be”. This has been corrected with the use of Your ISO system should take into account Process Maps to describe your processes ISO Auditors may not provide consulting to all areas of the customer experience, the rather than pages of written instructions. The the clients they audit but there is potential for industry expectations, and seek to improve Quality Manual need not be a huge document auditors to point out areas for improvement. them on a continual basis. This means taking anymore. Taking action on these areas for improvement
38 intouch Minding Gibraltar’s Business EDUCATION & TRAINING can help your business somewhat, because auditors have a broad experience covering a whole range of companies and invariable they focus on key issues which produce results.
The benefits of ISO 9001 are:- 1. Create a more efficient, effective operation 2. Increase customer satisfaction, retention and loyalty 3. Competitive advantage 4. Enhance status 5. Improve employee motivation, awareness, and morale 6. Increase profit 7. Reduce waste and increase productivity. What is sustained success? used by any organization, regardless of size, To summarise, achieving the ISO Standard will The sustained success of an organization type and activity. certainly benefit your Company provided that is the result of its ability to achieve and there is commitment from top management maintain its objectives in the long-term. The • Promotes self-assessment as an important to follow the key principles of achieving achievement of sustained success for any tool for the review of the maturity level your targets and objectives, implementing organization is a complex and demanding of your organization. It covers leadership, continuous improvement, taking preventive challenge in an ever-changing environment. strategy, management system, resources and and corrective action and promoting the use processes, to identify areas of strength and of internal audits as a business improvement How can sustained success be achieved? weakness and opportunities for improvements tool. • By meeting the needs and expectations of and innovations. your customers The fact that a Company has the ISO 9001 • Provides a wider focus on quality Standard should give customers the peace • By the effective management of your management than ISO 9001. It addresses of mind that the Company is being run organization the needs and expectations of all relevant efficiently and Government should encourage interested parties. ISO 9004 also provides Companies to pursue the goal of Certification • Through awareness of your organization’s guidance for the systematic and continual to enhance the status of Gibraltar PLC. environment improvement of your organization’s overall performance. ISO 9004:2009 • By learning and improving. • Can be used alongside ISO 9001 and other Finally the chart also mentions the new management system standards, but can also guideline for continual improvement –ISO How can the ISO 9004:2009 Standard be used independently. 9004:2009. ISO 9004 now includes help? information on managing for the sustained • Will provide your organization with guidance • Is not intended for certification, regulatory success of an organization. and support to achieve sustained success by or contractual use. a quality management approach. It can be Think Local. Buy Local.
Minding Gibraltar’s Business intouch 39 EDUCATION & TRAINING TRAINING COURSES F O R B U S I N E S S
The GFSB ever conscious of the importance of training in a variety of business related matters has organised a series of short courses for its members. The training courses will be of short duration typically 2 to 3 hours and will cover the following topics:-
1. Leadership Skills for Supervisors 2. Customer Relationship Management 3. Telemarketing: Using the Telephone as a Sales Tool 4. Public Speaking: Presentation Survival School 5. Time Management: Get Organised for Peak Performance 6. Customer Service: Critical Elements of Customer Service 7. Marketing & Sales 8. Business Leadership: Becoming Management Material 9. Project Management Fundamentals 10. Meeting Management: The Art of Making Meetings Work 11. Hiring for Success: Behavioural Interviewing Techniques 12. Customer Service Training: Managing Customer Service
The first course which will be delivered will be Customer Service Training: Managing Customer Service.
Customer Service Training - Course outline
Introduction The need for leading, promoting, and enhancing a customer-focused culture is essential within every organization. This workshop will provide participants with an opportunity to explore their responsibilities within their role as a customer service agent. As participants discuss the various skills and techniques, they will draw from their own personal and varied experiences to share elements of reward and challenge. Consider this workshop as a re-energizing time to build and expand from where they are now.
Highlights of what participants will learn:
• Identify ways to establish links between excellence in customer service and their business practices and policies; • Develop the skills and practices that are essential elements of a customer service focused manager; • Recognize what employees are looking for to be truly engaged; • Recognize who the customers are and what they are looking for; • Develop strategies for creating engaged employees and satisfied customers in whatever business units you manage
40 intouch Minding Gibraltar’s Business EDUCATION & TRAINING
Time Management: Get Organised For Peak Performance
Course outline
Introduction Time is money, the adage goes, and lots of it gets lost in disorganisation and disruption. Participants will get a grip on their office space, organise their work flow, learn how use their planner effectively, say no without guilt, and delegate some of their work to other people.
This one-day workshop helps participants organise and prioritise for greater workplace efficiency. The workshop is full of ideas for organizing their work area and their paperwork and working on the “right” things.
Get out of their mental rut. Think new thoughts about the time they have. Discover new ways of doing things, and feel more in control of their life.
Highlights of what participants will learn:
• Develop useful techniques for setting and achieving goals; • Identify strategies for using a planner effectively; • Better organize their self and their workspace for peak efficiency; • Identify the right things to do and develop plans for doing them; • Learn what to delegate and how to delegate well; • Perform a workload analysis to make sure their time is being used efficiently
Free for GFSB Members and £30 for non- members
Typically the cost for a ½ Day Course is £60 per delegate for GFSB Members and £100 for Non-Members.
Please contact the GFSB Office email: [email protected] if you are interested in any of the above courses.
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