Red tape and ever-changing legislation can be a serious problem with legal implications for many businesses.
But a Scots businesswoman, with 30 years experience in the financial industry, has launched Company Policy Ltd to offer online executive compliant business packs to help new and established companies operate efficiently thus avoiding potentially, crippling financial penalties that accompany legal breaches.
Monthly subscription packages are also available to ensure all clients are kept up to date with any changes that new regulations may require.
These executive business packs – Sole Trader Business Start Up is among the first – have all the documents needed and include service agreements, terms and conditions, compliance policies and much more.
Bespoke online business plans for individual companies have been developed that will include what businesses should do when it comes to issues such as debt recovery, grievance procedures, intellectual property and confidentiality.
Susan Wilson is behind Company Policy Ltd, based in East Lothian, and has already secured a Capital Venture investor who has committed to a long-term investment.
“The idea is to have these expert packs where all the relevant information, guidance and help is in one easily-followed location,”said Susan, who also set up Lothian Accountancy and Book-Keeping Services (LABS) three years ago and now has almost 150 clients on board.
“It can be a nightmare for new businesses, and even not-so-new ones, to get the advice and directions they need, especially as they change so regularly, adding to the confusion,” she said.
“Over the past few years, clients have been telling me how difficult and confusing it can be to ensure they operate within the law or even know what the legal position is for them. So this new online Company Policy service is a direct response to what we’ve been hearing.”
She added: “No-one can measure the cost of issues such as compliance, correct customer procedures, health and safety issues and employment regulations.
“Our guide packs are easy to follow but comprehensive as well so any size of business can use them in the full knowledge they will be trading legally – and with that comes peace of mind.
“No-one can put a price on issues such as compliance, correct customer procedures, health and safety issues and employment regulations. Our packs will help them avoid potential HMRC and Companies House Penalties.”
Pamela Shearer and Shelley Black, with expertise in HR regulations, policies and procedures and digital documentation, respectively, also helped establish the company.
Pictured (L-R): Pamela Shearer, Susan Wilson and Shelley Black.
I have recently been taking stock of a few things in life, I have been very lucky so far in most respects and should not really complain.. although being a male in his 40’s I certainly will complain about some things!
But during some recent reflections I drew parallels between a lot of things I have been involved with and it struck me that some of the most successful and most enjoyable have involved partners of some kind.
I am blessed with two wonderful children and I certainly did not get them without a partner! I am lucky to coach children’s football and that involves partnering with leagues, coaching organisations and governing bodies. And then in my professional roles I was surprised to think of how many partnering ventures I had been involved with over the years.
It really did stop me in my tracks, it reminded me of a recent conversation with a friend and partnering organisation of our James Henderson of Business Agility 365. As much as we all want to win every client, every contract we put in for in our own right for our own businesses, how many opportunities are we all missing out on by not grouping together, using our own skill sets to complement each other?
I do not have the answer to that one, but it certainly made me hungry to explore more partnering opportunities for IDCIT!
Intercultural communication takes place when people from different cultures interact together.
Culture is learned, shared and acquired; it is not biologically transmitted, but socially constructed. We learn it from family, school and other social institutions. What is right or wrong, acceptable or unacceptable, moral or immoral is often defined by the principles of culture that we hold.
How do intercultural differences occur?
Intercultural differences occur due to the different values, beliefs and practices that individuals from different cultural groups hold. These differences have a strong impact on the way that people work, plan, behave, negotiate, do business, and establish relationships and rapport.
‘If you talk to a man in a language he understands, that goes to his head. If you talk to him in his language that goes to his heart’ – Nelson Mandela
How cultures differ?
When the rules of one culture are used to ‘decode’ the behaviour of another, then it is likely to lead to cultural misunderstandings. Cultures can be divided in two categories according to their communication style: high context culture and low context culture.
For instance, in high context communication, communicators rely relatively more on the context of a message (knowledge, experience and non-verbal cues such as: facial expressions, silence, eye contact, tone of voice, silence, gesture, posture) and less on the words themselves.
High context cultures such as: China, Japan, Korea, American Indian, Most Latin American cultures, Southern and Eastern Mediterranean cultures, such as Greece, Turkey, and Arab states.
On the other hand, in low context communication the communication is straightforward, based on the semantic meaning of words and not veiled by non-verbal cues.
Low context cultures: Switzerland, Germany, North America and Nordic states.
In today’s business…
It is worth considering the skills that employers seek during recruitment, one of them being; interpersonal skills. These are vital for effective communication between individuals. From an intercultural aspect, competence in these skills can facilitate comprehension, diminish the presence of misunderstandings and stereotyping.
Doing business on a global scale or working with people from around the world, requires mindfulness during an interaction, and the most suitable way to address this is through intercultural training. Having culturally aware staff helps businesses to operate efficiently by ensuring an open-minded working environment, and high levels of customer retention and satisfaction. Developing intercultural awareness can contribute to the expansion of a business across national borders, to the attraction of new cultural groups of customers (and business partners!) and the potential for maximum business growth and profit.
Whatever your views of the conflicts the West engages in, there are some powerful leadership lessons at the operating level worthy of exploration.
The 3-minute read summarises the philosophy and practice of the US Navy SEALs as described by Jocko Willink and Leif Babin their book “Extreme Ownership”. It is a very similar approach to that of UK Special Forces, and indeed the wider Armed Services.
Our aim in this blog is to offer some short take-aways for business leaders. This is surface-skimming stuff, and offered simply as a reflective entry point. Which of these are you struck by? What will you most deeply think about, experiment with, and maybe adopt?
We also want to offer the opportunity to workshop this framework in the Pentland Hills on Thursday 17th August. Information and booking for this Fresh Air Business Walk is at the end of this blog.
So, here are the 3 themes and 12 elements of “Extreme Ownership”.
1. BEING
1.1 OWN IT. Self-aware, relationally effective leaders actively influence everybody and everything that impacts their world. They take an enterprise-wide view and engage broadly with energy. They create the conditions for success.
1.2 WALK THE TALK. Effective leaders understand that what they tolerate sets expectations and tone.
1.3 BELIEVE. To convince and inspire, leaders truly believe in what they do, and take time to engage and explain. They know that a buyable “why” is vital!
1.4 PARK YOUR EGO. Mission and team have primacy over self. Listen and reflect, and lead with humility.
2. DOING
2.1 NURTURE RELATIONSHIPS THAT ENABLE. Think “enterprise” not just immediate team or silo. Develop relationships. Listen and understand. Focus on collective possibilities. Identify common purpose.
2.2 ENCOURAGE SIMPLICTY AND CLARITY. Help people understand and believe. This will help achieve desired outcome when you’re not there and “Plan A” has gone out the window.
2.3 REFLECT, PRIORITISE, EXECUTE, REPEAT. Take a deep breath, look around, identify the single highest priority. The main effort. Create a simple plan, execute robustly, and remain situationally aware. Repeat. Build agility from contingency plans, rehearsals, and core competencies.
2.4 DECENTRALISE. Higher intention, outcomes, and constraints are communicated and understood. Delegations & trust help teams navigate complexity. Leaders are mindful of how and where they play.
3. SUSTAINING
3.1 PLAN, TEST, REFINE, REPEAT. Are task and desired outcomes clear and aligned with strategic purpose? Do delegations and egos enable contribution of valuable ideas at all levels? Are back-briefs, stress-tests, and rehearsals programmed?
3.2 LEAD UPWARDS. Are the skills, trust, and respect present to enable challenge and support upwards? Are people encouraged to “own it” at all levels? (See 1.1 above).
3.3 BE DECISIVE AMIDST UNCERTAINTY. Create decision-action cycles that are faster than the opposition to regain the initiative; and which adjust as situations evolve and new information becomes available.
3.4 JUDGING BALANCE. Know when to lead, when to follow; fit for sprints as well as endurance; calm but not emotionless; courageous but not foolhardy; attentive to details but not obsessed; humble but not passive; etc…
WHAT NOW?
If you have found this stimulating, we would love to help you explore the framework more deeply.
One such opportunity is the Fresh Air Business Walk we will be leading in the Pentland Hills on Thursday 17th August. Full information and booking is on Eventbrite here.
We can also offer masterclasses, programmes, and coaching in the workplace.
We look forward to hearing from you.
Dave Stewart
Manging Director
The Fresh Air Learning Company
Email: dave@freshairlearning.com
Tel: 0800 052 7900
The Fresh Air Learning Company is on a mission to breathe fresh air into the effectiveness and resilience of boards, senior teams and leaders.
Why? We know how shifts in self-awareness, trust, collective thinking, courageous conversations, and powerful storytelling can lift an organisation. Been there. Done it. And now helping others dodge the risks and leap ahead of avoidable underperformance.
How? Bespoke experiences, journeys and programmes. Outdoors. Indoors. The right place for the client. Powerful. Unforgettable.
Brodies LLP reports that in its financial year to 30 April 2017 revenues grew by 2.4% to a record £66.7 million.
Over the same period, profits before partner distributions rose by 2.6% to £31.7 million and the firm’s cash balances increased by 14.4% to £18.2 million.
This was the seventh consecutive year of revenue and profit growth for Scotland’s largest law firm, and was achieved through continued investment in services for its clients despite the political and economic uncertainty that followed last year’s Brexit vote.
Brodies, which has offices in Edinburgh, Glasgow, Aberdeen and Brussels, currently comprises 94 partners, 311 other professional advisers (including 18 graduate recruits who joined the firm on 1 July to take up training contracts) and 217 support staff.
In assessing its progress against its business objectives, Brodies considers a range of financial and other relevant objective measures. Highlights of the financial year in review have included:
• The successful completion of the third year of the firm’s 2014/18 strategic plan, delivering sustained organic growth. Brodies continues to have no reliance on external debt.
• Three lateral partner hires and two internal partner promotions, strengthening Brodies’ teams in corporate & commercial; insurance & risk; real estate and energy & infrastructure.
• Acting as lead legal adviser to Aberdeen City Council on its landmark £370 million index-linked bond issue on the London Stock Exchange; advising Scottish Water Business Stream on its successful acquisition of Southern Water’s non-domestic business to allow it to expand its operations south of the Border; and acting as lead adviser to Abellio on its sale of 40% of the Greater Anglia rail franchise to global conglomerate Mitsui & Co. Ltd.
• Achieving 37 top tier practice area rankings and 69 ‘leading individual’ lawyer rankings in the independent legal directories – more than any other firm in Scotland.
• Being named UK National / Regional Law Firm of the Year at the 2017 Legal Business Awards, UK Regional Law Firm of the Year at the 2016 Lawyer Awards and Scotland Law Firm of the Year at the 2017 Who’s Who Legal Awards for the sixth time.
• Extending Brodies’ PRIME programme, a pioneering initiative by the UK’s leading law firms to widen access to the legal profession to young people from all backgrounds, which involves school pupils from Edinburgh, Glasgow and Aberdeen. Seven students who have taken part in Brodies’ PRIME programme have now secured places at university to study law.
• Providing continued support for the Scottish Schools Swimming Association, bringing healthy team sport to schools from Shetland to the Solway, and Maggie’s Centres, which offers UK-wide support for people whose lives are affected by cancer. Brodies is the headline sponsor of Maggie’s Culture Crawls in Aberdeen, Edinburgh and Glasgow.
• Being ranked among the UK’s top 50 employers in the first Social Mobility Employer Index.
Bill Drummond, Managing Partner of Brodies, said: “All in all, it has been a very busy and at times quite dramatic year for Brodies and our clients, which underscores our satisfaction in recording another year of enhanced business performance for the firm across a number of measures.”
“Along with most of our clients – British or overseas – at Brodies we were surprised by the news, on 24 June last year, that the UK had voted to leave the EU and the consequences for Brexit and the economy are now having to be further digested following the UK General Election result and the absence of any one party with a clear majority at Westminster.
“Against this backdrop the increase in income that we are reporting is a satisfactory outcome for the year, indeed a new high point for the firm. Our underlying strategy continues to be focused on further investment in relevant client services to deliver sustainable, profitable growth.
“That said, in common with our clients, we hope and expect our politicians and negotiators in the years ahead to be pragmatic and collaborative in their dealings with our EU partners to ensure that as little economic damage as possible is done and that we can continue to grow our businesses and create long-term job opportunities in Scotland. To us, as with many clients, it is especially important that Scotland is able to retain and welcome workers from the EU and elsewhere who make such a valuable contribution to most sectors of our economy.”
More and more companies are joining in with Scotland’s national business five-a-side tournament as it enters its third full season through the continued support of the Edinburgh Chamber of Commerce.
Sponsored by Edinburgh Chamber member White Tree Chiropractic, the tournament has received constant support from the Edinburgh Chamber since inception. In one of my first acts of business I joined the Chamber and it’s been a brilliant decision. Their support has ranged from industry partnership, providing networking opportunities, opening conversations, mentoring support, social media support and being a constant friendly face to much more.
Through our Edinburgh Chamber journey we’ve made lots of valuable business connections, found suppliers & accountants, partnered up to support local charity The Yard through our golf events after meeting at a speed networking event and been connected to an invaluable business mentor in Andy Moorhouse. My Chamber journey has been thoroughly worthwhile having built lasting relationships with peers and I’m looking forward to remaining an active member and growing my business with their support.
Reigning champions and fellow chamber members, Anderson Strathern will be back to defend their Professional Services title this summer and we have three more sector specific events in Edinburgh throughout August.
Our event is once again in conjunction with the Edinburgh Chamber of Commerce as we return to the fantastic Powerleague venue.
This summer, Business Fives will be bringing a twist to the events to provide more networking opportunities and further integrate businesses through our events. We’ll also be sticking to our core values through our 10% company commitment to charity and this season the destination of this donation will be decided by the overall champions from our national final, with over 80 local and national charities benefiting from the fundraising efforts of our players along the way.
The events give you the chance to bond with colleagues outside of the office environment and get fit and active in the process, our Health and Wellbeing partners, White Tree Chiropractic, will be on hand to provide some help and guidance as to how your workplace can benefit and will even be giving players a free massage.
You can find additional info on our events on our website and by registering your interest. With teams involved in our Professional Services Edinburgh heat from Anderson Strathern, BT, KPMG, Bruce Stevenson, Addleshaw Goodard, Edinburgh Airport, Gilson Gray, Village Hotel Club, Spence & Spence, Pinsent Masons and still room for a couple more its sure to be a great event.
Come along to Business Fives and get the Chamber buzzing with chat and some friendly rivalry before Scotland’s business football tournament of the year.
Scottish Chambers of Commerce’s Quarterly Economic Indicator engages with five of Scotland’s key business sectors: Construction, Financial and Business Services, Manufacturing, Retail & Wholesale, and Tourism.
These findings, released in collaboration with the University of Strathclyde’s Fraser of Allander Institute show the position of businesses for the second quarter of 2017. The results from our latest comprehensive survey of businesses in Scotland reveals a broadly positive story in terms of business performance across most sectors but accompanied by some stark warnings about the potential challenges ahead.
Neil Amner of Anderson Strathern, Chair of the Scottish Chambers of Commerce Economic Advisory Group, said:
“Performance in the construction sector has improved since the beginning of the year, but concerns remain about the persistent negative trend in contracts from the public sector. Manufacturing businesses have again reported strong results, with evidence of a sharp increase in export revenues, possibly as a result of the exchange rate. The tourism sector is also looking well set for the summer, whilst key indicators in the financial and business services sector, such as profitability and employment have returned to their best levels for over two years.
“These are all positive signs in line with other recent surveys and data. They indicate that the Scottish economy will continue to grow this year. Businesses are, however, also highlighting longer term threats to success from factors such as falling real incomes and rising recruitment problems. The retail sector is perhaps most exposed to pressures on household budgets. It is therefore worrying that almost half of retail respondents are reporting a fall in revenues and profits. Supply chain price rise pressures will compound that issue. Consumer demand drives around three quarters of Scotland’s economic growth, so unless the recent falls in real earnings are reversed, there is a risk that the impact could spread to the wider economy.
“There is also evidence that the low unemployment rate may be impacting on businesses’ ability to recruit the talent they need. Recruitment difficulties are growing across almost all sectors of the economy and we are seeing businesses increase their investment in staff training, possibly to improve the skills of existing staff or to bring new recruits up to speed, who may not have all the skills that the business needs.
“Those recruitment pressures, underline the need for early agreement on the rights of existing EU workers to live and work in the UK and for the UK’s future migration policy to be driven by business need. We are continuing to hear anecdotal evidence from businesses of a slow but steady drift of EU workers out of the UK. For Scotland, that has to stop if our current recruitment problems are to be reversed.
Although the survey results are positive overall, they are not wildly so. Corporate training investments are being made in the context of tight margins and uncertain times, exposing the punitive nature of the Scottish operation of the Apprenticeship Levy for those paying it. It is time for Governments at all levels to begin planning for the kind of country we want Scotland to be, and investing in assets like world leading digital connectivity to help businesses to grow, rather than placing further cost pressures in the way of growth.”
This month, we’re inviting Edinburgh Chamber of Commerce members to share their #MyEdinChamber stories.
We pride ourselves on providing a platform for businesses to create high-quality connections – through our member database, or face to face at one of our many networking events. We love to see our members connect and collaborate.
One such example is the partnership formed between Business Fours and The Yard. We invited John McClarey of Business Fours, and Anna Robinson of The Yard to share their experience and their story.
1. Why did you both join the Chamber?
John: I joined the chamber having been a member at a previous job and found the events very beneficial. I rejoined to meet new local companies and connect with the Edinburgh business scene as well as avail of the mentoring service the Chamber provides. I try to get along to the events regularly and enjoy meeting and engaging with like-minded members seeking to grow their business.
Anna: The Yard joined the chamber so we could meet new people across the business sector within Edinburgh to raise awareness of our work as well as build links with new people to support our work. The events and the training courses that the chamber offer was also a good incentive to join.
2. How did this partnership begin?
John: I attended a speed networking event and met the Celine from the Yard at the event, we had a great chat over breakfast before the networking began and I was really impressed by the fantastic work the Yard are involved in. Celine suggested I came down to see the facilities, which I did and also invited me down to their fantastic Boundaries Edge course which I would highly recommend. I was hugely impressed by their work and the passion they have for enhancing the lives of not just the children who use their services but also providing a support network for parents to share experiences with other families with children with complex needs. We were delighted to support their work through Business Fours and hope we did a small bit to raise the profile of a wonderful organisation.
Anna: As John has already mentioned, Celine Sinclair, Chief Executive at The Yard, met John at a speed networking event hosted by the chamber. It was fantastic that John came to visit The Yard and also attend the ‘Competitive Edge’ course which is a course run by Boundaries Edge at The Yard and is a free course offered to people across the business sector. After John attended the course we were delighted to be chosen as one of the beneficiaries for the inaugural Business Fours tournament, which enabled us to raise funds and awareness about our work.
3. What role has the Chamber played in this collaboration?
John: The Chamber provided the platform which facilitated the initial meeting and it’s a testament to the variation in delegates of their events. From their the chamber has supported the partnership through their promotional channels something our business finds very important.
Anna: As John has said the Chamber facilitated the initial meeting and it’s great to be able to meet a wide variety of delegates at your events. It has also been great to get additional PR from the Chamber who promoted the Business Fours tournament and the partnership with The Yard.
4. What value have you received as a result of this collaboration?
John: We hope we have added value to the work of the Yard and will continue to support them moving forward. We benefited from having mutual clients and hopefully the Yard have made some worthwhile contacts from our events as well as the money raised through our fundraising efforts.
Anna: The Yard has receive financial support from the event, which will go to supporting our wide range of services for disabled children and young people. The Business Fours event was a great platform for us as it enabled us to meet new contacts who we hope will support us in the future. We have already had some sign ups to our next Boundaries Edge course in September as a result!
5. What do you love most about your membership?
John: It’s a toss up between the networking events and access to such a wide variety of clients and the mentoring scheme, both have been hugely beneficial to our business since we launched.
Anna: The opportunities that the Chamber membership gives The Yard to raise our profile as a charity in Edinburgh is what we love most about the membership. This includes the networking events, talks as well as the opportunity to speak at the Women in Business event earlier this year. The wide variety of businesses and events that the Chamber run makes it beneficial to be a member.
Over the month of July, Edinburgh Chamber of Commerce are exploring stories of success that our members have had through their membership with us. We’re inviting all members of the Edinburgh Chamber, small and large, to share their news of partnerships, business wins, and collaborations.
Share your story on social media using the hashtag #MyEdinChamber, or email our Marketing team to be in to win fantastic prizes from fellow members Ten Hill Place courtesy of Surgeon’s Hall, and G&V Hotel.
For more details, get in touch with Emma Reid or Daniel Tipping in the Marketing & Communications team.
Intellectual property (IP) can cover a variety of elements, from patents and registered designs to business trade secrets.
It is crucial to the success of your company that you protect your IP, as this can be as important as the products or services you sell – sometimes more so. If your business is based on your IP (for example, a patent), it becomes even more vital to protect it adequately.
The 5 tips below will help you protect your business and enable it to commercially exploit its IP. By following them, business owners will avoid a number of costly problems and pitfalls common to start-ups across all sectors.
1. Get a good understanding of IP
IP is an intangible asset that can make or break your business. It encompasses creations of the mind, including patents, designs, copyright works, and trade marks. IP can be protected through a variety of legal measures that offer recognition and help protect business revenue. If managed correctly with conscious planning, this can safeguard a business’ assets and ensure healthy relationships with clients, partners and competitors alike.
2. How does IP relate to my business?
Whether you are an inventor, creative designer, writer or software developer, your work will often constitute IP. If you seek the appropriate help and protect your ideas, this can work to protect the longevity of your business, prevent competitors benefiting from your IP and give you options to licence or sell your IP rights in the future.
3. How can IP affect my business?
If unprotected, your lead competitor can take advantage of your IP, and potentially take your product to market before you. Speed is everything, meaning you could lose your competitive edge and potential customers, damaging both your reputation and cash flow. Once you have protected your IP, your competitive edge and market share is safeguarded. This gives you a right of challenge, but also the opportunity to sell the IP if your business wishes to step out of the market or diversify.
4. Do I need a trade mark?
If you have niche product, an online business, or have plans to expand your business abroad, securing trade mark protection will protect and add value to your business. An early decision involves where you will trade and under what brand. If you intend to use the same name worldwide, you will need to check its availability internationally and then protect your name, country by country, focusing on your most important markets first.
5. Working with contractors and suppliers
If you collaborate with contractors, freelancers or non-employees on any form of IP creation or development for your business, you should put in place a written agreement which not only describes and records the IP but also states that all IP created belongs to your business. Otherwise, the IP remains with your contractor.
If you need to disclose any confidential information or trade secrets to third party suppliers, either prior to negotiations or upon commissioning work, always have in place a confidentiality agreement beforehand.
As small businesses look to compete, grow and develop in today’s fast-paced digital world, they need first-class connectivity that will support their business needs today and far in to the future, one of Scotland’s leading experts in digital industry has said.
According to Graeme Gordon, chief exec of Aberdeen-headquartered IFB – a leading managed service and data network provider – keeping apace of the digital transformation will ensure firms are not overtaken by competitors, giving opportunities to increase productivity and future-proof their businesses as the thirst for greater bandwidth continues to grow.
“Digital technology is developing at rapid speeds, and although small businesses may find it hard to keep up, we’re constantly working on new solutions to ensure all businesses, regardless of size, can stay ahead and have access to the best digital connectivity for their business and to suit their needs,” comments Graeme.
“There is now a new wave of full fibre digital infrastructure available in Aberdeen and Edinburgh which provides superior connectivity speeds, and opens up greater opportunities for businesses. World-class connectivity is the key to success for running any business in the digital age. That’s why we’re constantly striving to meet businesses’ digital needs now and for decades to come.”
Powered by this new full fibre infrastructure, IFB Ultrafast offers lightning speeds to support businesses and help them grow and take up new opportunities that the digital economy offers. It’s a platform for small and medium enterprises (SMEs) – the backbone of Scotland’s economy – to be part of the latest tech transformation with connectivity that is fast, reliable and fit for purpose, as speeds and connectivity take on even more relevance to the way business is done.
An increasing number of everyday business services and applications are now online and used as a matter of routine, these cover banking, accounting, sales tools, customer management systems, voice telephony and critical data backup and recovery systems – all of which need to be accessed reliably and securely to support the day-to-day workings of all modern businesses.
Graeme adds: “Connectivity is at the heart of how all businesses operate and the next stage has arrived. This state-of-the-art full fibre digital infrastructure provides blistering connectivity speeds to support SMEs now and moving forward.”
The ultrafast network is delivered by IFB and powered by CityFibre in Aberdeen and Edinburgh – two of Scotland’s ‘Gigabit Cities’. It is being hailed as an affordable independent network offering superior speeds that leads to increased efficiency and productivity by dramatically accelerating the digital capabilities of business, providing quick data transfers between locations for backup and recovery.
To find out more call 0845 270 2101 or email geton@ifb.net
