What do you get when you merge five-a-side football and business? You get Business Fives.
The five-a-side event for footie-loving firms, which runs through January and February with events throughout the country in Glasgow, Dundee, Aberdeen and the home of the tournament, Edinburgh.
The tournament, which encourages firms across Scotland to enter a five-a-side team in both a winter and summer event, is entering its fourth season.
Entries are now being taken for the forthcoming winter season and so far more than 300 companies have taken part in the events which offer a mix teambuilding and networking whilst raising money for charity.
The Edinburgh Professional Services event on 1st February is supported by the Edinburgh Chamber of Commerce who have been actively involved in the football and golf events throughout the year.
It’s even has some famous ex-players and sporting celebrities taking part as ambassadors including ex-Hearts star Gary MacKay and Hibs legend Pat Stanton, BBC Pundit, Tam McManus along with TV presenter David Tanner.
Tournament founder and Business Fives managing director John McClarey – who also organised a highly-successful inaugural Business Fours golf tournament – says it’s a great opportunity for professionals to make new connections and for businesses to bond with colleagues outside of the office, get fit and raise money for charity.
This winter Business Fives is continuing to allow companies to play for their chosen charity over with the winning company taking its company commitment to donate 10 per cent of everything to their cause this winter.
Previously it elected a sole charity partner, but now firms who take part can elect their own chosen charity with the destination of the final donation being decided by the overall champions.
John said: “By allowing companies to play for their chosen charity we have made a much bigger overall impact to charity.
“The summer season saw us almost double our original target of £10,000 and raise £19,600 which was a brilliant achievement from everyone involved.”
The tournament is now open for entries and to register a team go to businessfives.co.uk/winter-2018
Business Fives Dates for your Diary
Edinburgh Events
Construction, Housing & Property Heat Tuesday 23rd January – World of Football, Corn Exchange, Edinburgh
Professional Services Heat Thursday 1st February – World of Football, Corn Exchange, Edinburgh
Food, Drink & Hospitality Heat Thursday 8th February – World of Football, Corn Exchange, Edinburgh
Rising inflation and cybersecurity are the most common fears among British SMEs for 2018, according to new research from Barclays Business Banking.1
SMEs believe these issues are most likely to negatively impact their growth in 2018, while consumer demand is most widely expected to have a positive impact.
Inflation, cyberattacks, and state of the UK economy more widely feared than Brexit
According to Barclays’ annual SME Hopes and Fears Index1, which asks decision makers at UK SMEs which factors they expect to help or hinder their business growth in 2018, inflation is most cited as a fear (by 43%). It can increase costs for a business, and also impact the wider economy, with 36% fearing the effects of prices rising faster than wages, which could put pressure on consumers.
Inflation is followed by the risk of cyberattacks (41%) and the state of the UK economy (40%). These factors are followed by fraudsters targeting small businesses (39%), and Brexit and UK politics (35% each), which rank sixth.
Top 5 SME fears for 2018:
| Factors SMEs expect to hinder business growth in 2018 | Ranking |
| Inflation | 1 (43%) |
| Cyberattacks | 2 (41%) |
| State of the UK economy | 3 (40%) |
| Fraudsters targeting my business | 4 (39%) |
| Price inflation outpacing wage rises | 5 (36%) |
In May 2017, Barclays launched a major engagement campaign, Barclays DigiSafe, to raise awareness of cyberattacks, fraud and scams. It includes a £10m national advertising campaign, and provides customers with additional tools to protect themselves. Dedicated support for the bank’s one million SME clients has included free support clinics.
SMEs have high hopes for consumer demand and are more positive about technology
When it comes to the factors business owners expect to positively impact their business growth, consumer demand is most widely tipped to have a positive impact, with 50% expecting it to do so. This is a change from last year’s results2 when just 22% expected it to have a positive impact.
SMEs have become more positive about technology, with 48% expecting that availability of better technology will have a positive impact on their business (37% last year), and 42% expecting e-commerce/digital presence to do so (23% last year).
Top 5 SME hopes for 2018:
| Factors SMEs believe will have a positive impact on business growth in 2018 | Ranking |
| Consumer demand | 1 (50%) |
| Availability of better technology | 2 (48%) |
| E-commerce/ digital presence | 3 (42%) |
| Investment in the local area | 4 (34%) |
| International marketing opportunities | 5 (28%) |
Reflecting the uncertain times, there is a near even split among SMEs about the outlook for 2018, with 46% believing it will be a year of opportunities, and 49% predicting a year of challenges.
Most SMEs plan to maintain the same level of investment (65%) and employee numbers (68%) as for 2017. However, those making changes are generally positive, with 21% planning to increase the number of employees, compared with 5% planning a decrease, and 20% planning an increase in investment, compared with 8% planning a decrease.
Stuart Brown, Head of SME Scotland at Barclays Business Banking, commented: “The research reflects small businesses being empowered by new technology and e-commerce. Compared with a year ago, more think these developments will have a positive impact on their business. From our work with small companies, we see them making more use of data and online services, including our own, that help them manage their marketing and finances more easily and effectively. By making the most of these opportunities, SMEs can increase sales, cut costs and save time, strengthening their business.
“Inflation is clearly a worry, and in particular the potential for prices to rise faster than wages. Business owners are clearly taking a prudent and cautious approach to the year ahead. However, there are positive signs of SMEs investing more and hiring more staff.”
¹ 2017 research (looking at 2018 hopes and fears) was conducted by Opinium on behalf of Barclays, 500 online interviews with UK senior decision makers/business owners in SMEs defined as having 250 or less employees, between 9th– 16th November 2017.
2 2016 research (looking at 2017 hopes and fears) was conducted by OnePoll on behalf of Barclays, 500 online interviews with UK senior decision makers/business owners in SMEs defined as having 250 or less employees, between 12th– 19th December 2016
Eskbank Office Complex 30/2, Eskbank Office Complex, Hardengreen Estate, Dalhousie Road, Eskbank, Midlothian EH22 3NX
If you’re searching for premises that will give you the space to breathe as well as grow, The Eskbank Office Complex offers the perfect blend of high tech workspace in a setting that is semi-rural yet close to Edinburgh.
Presented in an immaculately landscaped development, each pavilion benefits from a dedicated top spec, built-to-last approach. We have given immense care and thought to design and finish, using selected, quality materials both inside and outside the pavilions. This means you can have complete confidence your office accommodation will retain a fine internal and external appearance over many years.
The Eskbank Office Complex is managed by the owner, KEE Estates. Because we do not use an intermediary agent, you will always talk directly with someone who knows the site thoroughly. Our schedule of maintenance keeps everything in pristine condition, and even includes services such as snow clearing to help make your life ‘business as normal’.
Our rents and service charges are competitive, and local business rates compare favourably with city centre costs. With our convenient, close-to-town yet close-to-country position, The Eskbank Office Complex is the perfect spot from which to build your success and prosperity.
Integrated services include category 5E pre-wired voice and data telecommunications, managed from a central hub station. Underground cabling services each pavilion with broadband and direct dial telephone. Remote closed-circuit television and zoned fire and intruder alarm services are also independently programmable for each occupant.
You have the convenience of using four parking spaces dedicated to each pavilion, with their exclusivity maintained by an electric gate at the entrance to the complex. Each pavilion also comes ready fitted with a refreshment preparation area that includes refrigerator and counter-top microwave.
The Eskbank Office Complex isn’t simply good to look at. We’ve designed it with an eye to making great commercial sense for you, with low running and maintenance costs.
For example, each pavilion is insulated to a high standard. We’ve also installed energy meters, so you can check at a glance how much electricity your business is using.
And we’ve put in place the little touches that add up to a lot – such as high efficiency condensing boilers, time-flow taps, dual flush lavatories and low energy lighting.
LOCATION
The Eskbank Office Complex is two minutes’ drive from the A720 city bypass, giving fast access by road to central Edinburgh, the airport, the A1 south, and routes to the central belt and north.
There are also frequent bus services to the city and surrounding areas. The Eskbank Office Complex is just a short 2-minute walk from the Eskbank Station, part of the recently opened Scottish Borders Railway route.
More locally, our position in the desirable, mainly residential area of Eskbank, west of Dalkeith, puts you and your staff in walking distance, or a short drive or cycle ride, to many amenities. These include a Tesco store, choice of restaurants and hotels, health services and the Jewel and Esk College.
Contact Euan Hall for more information.
Mobile: 07932522744
Phone: 0131 467 7920
The British Chambers of Commerce (BCC) today (Thursday) releases the results of its survey, in partnership with American Express, which finds the majority of businesses expect the fall in sterling to increase their costs.
The survey of over 1,300 businesses found that 63% of businesses expect their costs to increase in the next 12 months as a result of the devaluation in sterling, including a quarter (24%) who expect costs to rise significantly. In comparison, only 6% of firms expect their costs to decrease.
Over 70% of manufacturers (73%) and business-to-consumer firms (71%) anticipate costs increases, compared to 55% of business-to-business firms, according to the results.
The survey also found that many businesses trading abroad are leaving themselves exposed to currency fluctuations, with nearly half (46%) of UK firms not taking proactive steps to manage currency risk. Smaller firms are less likely than their larger counterparts to be managing risk (44% of firms with 1-9 employees, compared to 70% of those with 50-249). Manufacturers have the highest proportion of businesses managing currency risk (76%), compared to B2C (57%) and B2B (39%).
The findings of the survey highlight the extent to which the depreciation in sterling is expected to compound the price pressures on firms, underlining the need to ease the domestic cost of doing business. There is also a clear need for more support and information for exporting businesses on the importance of managing currency risk.
Other key findings in the survey are:
• The most common forms of managing currency risk are invoicing in sterling (27%), opening foreign currency accounts (15%), and waiting for an advantageous rate and buying using the spot market (15%)
• Less than a quarter (24%) of businesses say they have a complete understanding of the types of international payment methods available, with 23% saying somewhat and 13% none at all
• The biggest challenges businesses face in making or receiving international payments are delays (21%), bad or misleading exchange rates (16%) and hidden fees (16%)
Dr Adam Marshall, Director General at the British Chambers of Commerce (BCC), said:
“Weak sterling reflects the current climate of political uncertainty and lack of clarity on the Brexit process. A clear and firm strategy from government about the nature of the UK’s future trading relationship with the EU would go a long way to reassure and stabilise markets.
“While businesses await answers on Brexit, and a return to a stronger currency, they must take the necessary steps to prepare for potential risks. It’s concerning to see the proportion of UK companies not actively managing currency risk. For those trading internationally, it makes good business sense to explore the options available to insure against currency fluctuations.
“Companies are clearly feeling price pressure from the depreciation in sterling. The government made a crucial first step in the Budget with action on business rates, but further steps need to be taken on the upfront cost of doing business, so that firms can mitigate currency pressures and grow their business.”
Karen Penney, Vice President & General Manager, Global Commercial Payments and Small Business Services UK, said:
“Whilst managing currency fluctuations can seem daunting, technology is rapidly lowering these barriers, helping to streamline the payment process and granting added layers of security to businesses. At American Express we know that simple currency tools such as forward contracts can effectively protect a business from exchange rate volatility by guaranteeing a fixed rate. Not only will this protect margins, it will enable more accurate forecasting and budgeting. With the right tools and resources, businesses can unlock growth opportunities both at home and abroad.”
View the full infographic here.
Friday 8 December, 14.30 – 18.30, book: bit.ly/2zlHf4w
Arts & Business Scotland are delighted to announce their latest Development Forum which will focus on the power of partnerships forged between businesses and cultural organisations and will showcase the many mutual benefits (social and economic) that can be derived from such creative collaborations and how the conventional image of sponsorship is being thrown out of the window.
The afternoon will be divided into two sessions followed by a Q&A with ample networking opportunities including a festive drinks reception from 17:30.
Speakers within the two sessions will include:
Andy Parkinson, Director, Consilium Research and Consultancy, who will share some top tips and learning points extracted from the analysis of existing and recent partnerships and business surveys.
Gerry Corish, Scottish Salmon Company who will present on how their sponsorship of the National Theatre of Scotland and the Theatre in Schools project is a reflection of the values of the company and how the Scottish cultural offering is at the very heart of their brand and marketing activities.
With a short introduction by:
Helen Ireland, Director of External Relations at National Museums Scotland, who will discuss the importance of business and cultural partnerships in the context of the Museums work, with reference to some of their recent partnerships including with The Glenmorangie Company and Morton Fraser.
This event is completely free to members of Arts & Business Scotland. There is a small charge of £20+VAT for non-members.
The event is suitable for arts, heritage and business organisations, including participants on the Resourcing Scotland’s Heritage training programme, which through funding from HLF, has enabled Arts & Business Scotland and partners to encourage fundraising skills development across Scotland’s heritage as well the arts sector. This is the third of four Development Forum events this financial year offering peer to peer learning and networking opportunities developed by Arts & Business Scotland.
Approximate schedule (subject to change)
14:30 – 15:00 Registration, coffee/tea and networking
15:00 – 16:00 Talks
16:00 – 16:20 Coffee/tea and networking
16:20 – 17:30 Talks
17:30 – 18:30 Drinks and networking
Scottish Enterprise is hosting succession planning masterclass in Edinburgh with local businesses Computer Application Services and Mike Stoane Lighting
Scottish Enterprise is hosting a free event in Edinburgh on Wednesday 8 November designed to encourage business owners to consider their succession options.
Delivered by Co-operative Development Scotland (CDS), the arm of Scottish Enterprise that supports company growth through collaborative and employee ownership business models, the event will host presentations from the owners of Edinburgh-based employee-owned businesses Mike Stoane Lighting and Computer Application Services (CAS).
Taking place at Anderson Strathern’s office in Edinburgh, the event is part of a series of masterclasses from CDS on the topic. The sessions are intended to cover the importance of succession planning with a review of the range of options available, including employee ownership.
IT company CAS took the route to employee ownership when a trade sale didn’t materialise. The chief executive and chairman invested a proportion of shares with the remainder going to an employee trust or bought by individual employees. The company has since sought external funding to enable growth plans and is thriving.
Mike Stoane wanted to exit his company in a way that meant minimal disruption to the great team he had built up. He sold the majority of his shareholding in his lighting design and manufacturing firm, Mike Stoane Lighting, to an employee trust. Majority trust ownership allows firms to pay bonuses exempt from income tax subject to certain conditions being met.
Bruce Farquhar, chair of Anderson Strathern and speaking at the event to talk through the succession options open to business owners, said: “Business succession is often the elephant in the board room, however poor planning can leave a previously successful business very vulnerable.
“The traditional exit route of selling to a trade buyer isn’t universally attractive, especially to SME and family businesses. A sale to a competitor can deliver a nice price to a seller, however for many owners of small businesses, the company value is more than its cash worth. Many of these companies have a unique culture, strong supplier and customer relationships and a loyal, long service workforce.
“There is another succession option coming to the fore in the Scottish business-place; a sale to the employees means that the people who know the company best are in control, relationships are maintained, and the business stays in the area.”
CDS’ research estimates approximately 16,000 employers in Scotland will be looking to transfer ownership in the next five years.
CDS director Sarah Deas said: “Our overall aim is to support owners in developing their succession strategies. These events are a fantastic way for business owners who are considering an exit from their company to learn more about their options through expert advice and the first-hand experiences of others.”
Independent Scottish Law firm Gillespie Macandrew LLP has announced that its new CEO will be Robert Graham-Campbell.
Robert will take up office on 16 October and replaces outgoing CEO, Chris West, who is retiring from the firm.
Robert has extensive business leadership and legal sector experience, most recently as CEO of London based Pemberton Greenish LLP, specialists in private client, property and corporate law.
Gillespie Macandrew Chairperson Fiona Morton said,
“I am delighted to announce Robert’s appointment, particularly as he has already demonstrated an approach to the CEO role that we feel is strongly aligned with our values as a firm. We seek to always be straightforward, open and transparent in our relationships, continually working hard to be an attractive place for talented and enthusiastic people to work in strong teams delivering great advice to our clients.
“I am grateful to Chris who has delivered the strong growth the firm has achieved over the past few years and established a robust financial position to move forward from. He has also recently led the rebrand launch further providing the platform for Robert to drive the next phase of our plan to develop and grow our business in response to market opportunities.”
Robert Graham-Campbell said
“I am excited to be joining Gillespie Macandrew at a time of fast-paced change in the legal services market. The importance of strong client relationships, based on the highest levels of quality and service, has never been greater. The firm’s focus on this is central to its medium term strategy and places it in a strong position in a competitive market. I look forward to working with the Chair, partners and staff to lead the firm through the next stages of its development.”
Pictured above: (L-R) Chris West, Fiona Morton & Robert Graham-Campbell.
UK businesses contribute a staggering 33% of all the country’s Co2 emissions.
With small to medium sized businesses making up 70% of the UK’s total business count, it’s crucial they become more environmentally aware. And, switching to a green energy tariff is the single biggest thing a business can do to reduce their carbon footprint.
Unlike that of large corporate organisations, the switching process for energy contracts is simple and can often be done quickly for smaller businesses.
Furthermore, the prices of such renewable contracts are in line with tariffs sourced through the burning of fossil fuels – so there’s really no excuse not to go green.
At Utilitywise we’ve already taken our first steps on our green journey through agreeing renewable energy tariffs for all of our offices across the UK. We’re also now offering 100% renewable tariffs to our customers.
Why go green?
• It’s easy – Using a green energy tariff is one of the easiest ways to reduce your business’s carbon footprint. All Utilitywise green tariffs use 100% renewable energy
• Customers like it – Going green sends a strong message to customers that you care about the environment, making them more likely to buy from you.
• Reputation enhancing – Get green certification to display in your business and promote your carbon commitment to customers, employees and potential investors.
• Business winning – When bidding for certain contracts, you may not be eligible unless you meet certain environmentally friendly preconditions. We can help you meet them.
• Money saving – A Utilitywise green tariff could be cheaper than what you pay today, plus we’ll help you reduce your bills through energy saving.
Click here to learn more about green energy tariffs https://hubs.ly/H08R0Jv0
Charities and businesses across Scotland are joining forces in a first-of-its-kind event on “civic leadership”.
The one-day event brings together The Open University, TSB Bank and the Edinburgh Cyrenians as well as the Edinburgh Chamber of Commerce in a bid to unite the skills and common drive of both third sector organisations and businesses looking to shape the future.
The event, held on 10 October at the Hilton Edinburgh Grosvenor Hotel, will see 50 select delegates combine their skills and experience to drive forward a positive social agenda in Scotland that aims to help the economy and wellbeing of Scots.
The Edinburgh Cyrenians are one of the partners in this innovative project and work with the homeless and vulnerable to help transform their lives.
“Businesses in Scotland are not separate from the communities they serve.” said Ewan Aitken, Chief Executive Officer.
“Their staff and customers are part of those communities. Business people often find roles as leaders in all sorts of organisations but especially in youth and social care roles. The advantages are many. Not only does the organisation, and its members, benefit from the service provided but there is also benefit for the volunteer in terms of skills developed and contacts made.” he explained.
Another partner in the event, TSB Bank, have recently made a bid to return to their founding principles and demonstrate what learnings can be gleaned from the ten years since the economic crisis of 2007.
“TSB Bank was founded on the principles of Reverend Henry Duncan, who wanted to address the economic needs of his parishioners as well as their spiritual ones. He used his professional position to offer support to his community and clearly enjoyed himself in the process.” said Business Historian, Professor Charles Munn OBE FCIBS.
Director of The Open University in Scotland, Susan Stewart said she was “delighted to be a lead partner in such an exciting event that will help make Scotland a stronger society. This fits in with our ethos of making use of The Open University’s academic expertise for public good.”
‘Reimagining civic society. A new paradigm for Scotland’ is a free event that will be held on Tuesday 10 October from 12.15pm to 5.00pm at the Hilton Edinburgh Grosvenor Hotel. Tickets are limited but may be booked via https://www.eventbrite.com/e/reimagining-civic-society-a-new-paradigm-for-scotland-tickets-37447288849
• Businesses in Scotland now have £35.6bn tied up in excess working capital
• Sustained growth has driven the pressure on firms in Scotland to increase working capital
• This could leave businesses exposed to greater risks if financial conditions deteriorated
Sustained economic growth and the fall in the Sterling exchange rate have put record pressure on businesses in Scotland to increase the amount of money tied up in working capital, leaving them at risk if growth were to weaken in the months ahead, according to a new report from Bank of Scotland.
Firms across Scotland now have around £35.6bn tied up in excess working capital – up 13 per cent from £31.5bn since the last report was released in May – meaning that firms could struggle to free up cash either to grow or to weather turbulent financial conditions.
The sustained growth seen nationally in the past 12 months – particularly in manufacturing and in the services sector – has increased the amount of cash tied up in the day-to-day running of businesses, with the impacts from the fall in Sterling, forward purchasing of inventory and a rise in input costs being fully realised.
Simon Quin, of Bank of Scotland Global Transaction Banking, said: “The increase in the working capital index in Scotland over the past six months is the highest of anywhere in the UK. Significantly, at 105.2, it now suggests Scottish businesses are now under pressure to increase working capital, whereas in April, the pressure was to decrease it.
“This is probably a result of the fact that GDP in Scotland has seen a bit of a resurgence during that time, outstripping the rest of Britain earlier this year, and aided by the small recovery in the price of Brent Crude.
“But by locking up cash in this way, it stops investment in other more productive areas of the business, whether that be investing in new people, creating new products or targeting new markets.
“With as many as one in three businesses nationwide telling us that their greatest concerns for the next 12 months are economic uncertainty or a fall in sales, this reliance on future growth prospects is concerning.
“Ultimately, every pound tied up in working capital is a pound that could be invested in other, more productive areas of a business and this is something that businesses in Scotland should be managing closely.”
The findings come from Bank of Scotland’s second Working Capital Index, a six-monthly report that uses Lloyds Bank Regional Purchasing Managers’ Index (PMI) data to calculate the pressure British businesses are under to either increase or decrease working capital.
Working capital is the amount of money that a company ties up in the day-to-day costs of doing business. Growing businesses tend to use more working capital, while companies focus on releasing cash from working capital when they are facing challenges.
An Index reading of more than 100 indicates pressure to devote more cash to working capital, while a reading of less than 100 indicates pressure to prioritise liquidity.
The current reading for Scotland of 105.2 is an increase of more than five points from 99.5 in April of this year.
The Index highlights that with the UK’s domestic outlook looking weaker, businesses are increasingly going to need to rely on exports for future growth.
While the current relative weakness of Sterling makes conditions for international trade benign, the practicalities of exporting mean that it often places even greater stress on working capital through shipping times and slower payments.
UK wide, one in four businesses said their customers had taken longer to pay during the past 12 months, increasing the value of firms’ outstanding invoices. At the same time, businesses are continuing to rapidly build up inventory, leading to more cash being locked up in stock.
With as many as one in three firms in the UK saying they are concerned by economic uncertainty or a fall in sales during the next 12 months, these factors could spell trouble for businesses in Scotland if economic conditions declined.
Simon Quin added: “Whether businesses expect to grow through exporting, or they anticipate challenges due to weakening domestic demand, firms in Scotland could benefit from the operational efficiency and cash flow boost that comes from working capital improvements.
“In the past, previous highs in this Index have coincided with improving financial conditions. The fact that the Index is currently climbing while financial conditions remain relatively low means businesses are taking on more and more risk.
“Our experience is that businesses that undertake a programme of working capital improvements can typically release around three to five per cent of turnover in additional cash, allowing them much more freedom to invest in growth, trade internationally, expand their product set or to give themselves a buffer to see them through more troubling times.
“But doing so successfully isn’t easy. It requires change across a number of business functions, and so the time to undertake that work should be ahead of embarking on further growth, a new exports programme, or before any possible future storm hits.”
UK variations
Although Scotland saw the biggest increase in its Index score, the pressure to increase working capital grew in every other part of the UK apart from the East of England, where the Index fell from 112.0 to 107.8.
Wales remained the region with the highest pressure to increase working capital with the Index climbing from 113.7 in April to 114.3 now.
For more information about the Bank of Scotland Working Capital Index visit http://business.bankofscotland.co.uk/business-resource-centre/insights-and-ideas/working-capital-management/
