Issue 18 - Spring 2012 inMindingtouch Gibraltar’s Business Interview: Fabian Picardo talks Business Establishing a business in Gibraltar... as a non-Gibraltarian A Tour of our Tourism Product Could Gibraltar ever become a Water Based Tourism Destination? Less Regulation but Better Regulation Contracts in Everyday Business Directors’ and Officers’ Liability Insurance Expect Continued Uncertainty What does the Future Hold for GBC? How Websites have Changed over the Years Google+ for Business www.gfsb.gi Minding Gibraltar’s Business intouch 1 CONTENTS Contents InTouch | Issue 18 | Spring 2012 GFSB Editor’s Notes 05 Meet the Board 06 Chairman’s Notes 07 GENERAL Fabian Picardo talks Business 08 Establishing a business in Gibraltar... as a non-Gibraltarian 12 Federation of Small Businesses TOURISM The UK’s Leading Business Organisation A Tour of our Tourism Product 14 Could Gibraltar ever become a Water Based Tourism Destination? 16 FINANCE Less Regulation but Better Regulation 18 Contracts in Everyday Business–a briefing on Unfair Terms 20 Directors’ & Officers’ Liability Insurance 22 Expect Continued Uncertainty 24 GENERAL INTEREST intouch What does the Future Hold for GBC? 26 Editorial Director Viewing Europe from a Different Perspective 28 Gemma Arias GFSB Training for Small Business 29 How Websites have Changed over the Years 30 Designed by Piranha Designs Gibraltar Google + For Business 32 www.piranhadesigns.com Gibraltar Stamps, a local product exported to over 80 countries! 34 Published by GFSB BUSINESS The GFSB GFSB Business Awards 35 122 irish Town GFSB Events 37 Gibraltar GFSB Membership Form 38 Tel: +350 200 47722 Fax: +350 200 47733 Email: [email protected] www.gfsb.gi Disclaimer No part of this publication may be reproduced without the 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/Alfredo Vasquez Treasurer Alfredo Vasquez Employment Gemma Arias (Conditions of Employment Board, Labour Advisory Board, Small Business Board) Ian Torrilla (Employment & Training Board, Small Business Board) Events Secretary Gemma Arias Environment Gemma Arias Legal Stuart Rodriguez Business start-ups/EU Funding Ian Torrilla/Alfredo Vasquez (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 Gemma Arias Design & Branding Julian Byrne 4 inintouch Minding Gibraltar’s Business EDITOR’S NOTES editor’s notes Dear Readers, articles by people who understand Less credit must be given to the tax the troubles faced when setting up office, however, for sending my tax As the new Editor of In-Touch I’m a business and an article from the assessment to an unrelated third very excited and proud to be bringing previous chairman of GBC, who gives party. Data protection I hear you say? together a series of articles written by us his perspective on its future. members of the board and Gibraltar’s Till our next issue! business community. The magazine is also, of course, a useful tool for communicating with Yours, This magazine is aimed at both the our members. I intend to keep readers seasoned entrepreneur seeking to informed of progress made on the Gemma Arias keep in touch and the would-be points raised in the GFSB Business Editor entrepreneur keen to understand the Agenda presented last June. fundamentals of business. Kudos to Government ministers The GFSB is very interested in hearing for convening previously dormant its members’ views – and what better boards; something which I look way than by inviting them to produce forward to informing our readership articles on matters which are close on in future issues. Let’s hope that to their hearts. As a result we have (1) this continues, and (2) that views a magazine full of articles written expressed within these boards are by individuals who desire to see heeded. improvements in the tourism industry, Minding Gibraltar’s Business intouch 5 Stuart Rodriguez Ian Torrilla Alfredo Vasquez Chairman Vice-Chairman Treasurer board Gemma Arias Michael Borge John Piris Editor/Secretary meet the Julian Byrne Craig Sacarello Tony Lopez Pure Focus Enabling growth in business and society Deloitte provides a full range of services which include auditing, tax and fi nancial advisory services. As a member of Deloitte Touche Tohmatsu our services are guided by global common principles that infl uence the way we perform our daily work and ensure all our services are consistently of the highest quality. Our service philosophy centers around strong partner involvement and understanding of your business needs. We Listen to you and work with you. We understand the environment you operate in. We communicate regularly and provide information in a form you can use to make effective business decisions. For more information, call Joseph L Caruana or Stephen J Reyes on: Tel: +350 200 41200 Fax: +350 200 41201 [email protected] www.deloitte.gi Merchant House, 22/24 John Mackintosh Square, P.O. Box 758, Gibraltar © 2011 Deloitte Limited. A member of Deloitte Touche Tohmatsu Limited 6 intouch Minding Gibraltar’s Business CHAIRMAN’S NOTES chairman’s notes With the new administration’s first ‘quarter’ The introduction of the new vocational training are being hosted at Google’s headquarters under their belts the business community scheme, however, could actually be said in Dublin which should be interesting. In have been eagerly looking for signals as to to discourage employment as businesses conjunction with this event, we also hosted how business in general, and possibly their have to make a ‘call’ on whether they will a GFSB half-day business in particular, may be affected by a employ an individual 3 years in advance, if business conference with the theme ‘Gibraltar change in government. Following the typical not they need to return funds received by the and the EU’ which had very good feedback extended terms that all Gibraltar governments employee. In my view, this scheme requires and was well attended. We would like to enjoy when coming into power - none of them more thought and a balance has to be struck thank all speakers and all those who helped have ever lasted just 4 years - change is a somewhere between some employers with the organisation as well as the Gibraltar big deal locally, when compared to a shift in historically abusing the previous scheme and Government for generously sponsoring these power in other larger democracies. going the other way and scaring employers events. from creating jobs. So how have the first 3 months fared for the Our programme of events for our members new government? Well, the implementation New Government Boards are in the process of is now well established and our membership of a moratorium on late filing penalties for being set-up with some new boards such as recruitment is gathering momentum. Our the self-employed and companies under the the small business board wetting the appetite 2011 GFSB Business awards were decided Income Tax Act 2010 for tax due and payable of business associations such as ours. In recently and it was a pleasure to find the ‘on account’, was certainly welcomed. The the past, the GFSB have been critical of the entrepreneurial spirit well evident amongst new Income Tax Act brought about a massive frequency of meetings and the way some of all the applicants. Once again I would like sea-change in the way tax was collected. these boards have been run. If you are there to thank our GFSB Board whose Directors just to rubber-stamp a pre-made Government are volunteers who give up their time from Whilst fiscal discipline had to be improved decision rather than provide meaningful running their own businesses. Our sole aim following a historical relaxed approach, constructive consultation and advice, then is to help contribute towards creating the businesses needed time to make the we would rather spend our volunteer time environment that business needs in order to transition from being sometimes years in running our businesses! flourish and develop arrears to paying tax in advance - especially as access to cash is harder to come by these On the 2-4th March, the GFSB hosted a board Stuart Rodriguez days. meeting for the European Small Business Chairman Alliance in Gibraltar with a range of european The effect of the new Act on businesses business organisations being represented. requires a further Government review as the burden on cash-flow in particular has been It is vital that we retain our links with quite daunting on some of our members, if international business associations and not most. for our next board meeting in Ireland we Minding Gibraltar’s Business intouch 7 GENERAL Fabian Picardo talks Business In June 2011, the GFSB brought out its AGAINST ILLEGAL LABOUR E.G. ONLY OBTAIN SOME FORM OF CARD? Business Agenda, which was then used PERMITTING FRONTIER WORKERS WHO by the political leaders as the basis for ARE REGISTERED TO USE THE LOCAL People who come in and out frequently would their opening arguments in the GFSB BUS SERVICE. WE APPLAUD THESE be registered. Once they are so registered Pre-Election Debate which was held in MEASURES.