< Previous20 Business Link www.blmforum.net REED IN PARTNERSHIP Q&A Q&A Nicola Whelan, head of delivery support, Reed in Partnership We caught up with Nicola Whelan, head of delivery support at Reed in Partnership, about the brand-new ‘Work and Health Programme: Job Entry Targeted Support’ (WHP JETS) scheme and how it is supporting local people into local jobs via a new recruitment and training service, which is fully funded by the Government. How does the WHP JETS scheme work? Here at Reed in Partnership, we are bringing the recently announced extension of the Work and Health Programme for the DWP – ‘Work and Health Programme: Job Entry Targeted Support’ (WHP JETS) – to businesses across the region. The WHP JETS scheme is designed to support those who have found themselves out of work due to Covid-19, mobilising a group of approximately 50,000 skilled people who have become recently unemployed. We have created a stepped process to ensure that businesses and individuals alike are supported to achieve their potential. Step 1 The business tells us about their specific recruitment needs. Our recruitment managers work closely with the business to understand organisational and recruitment needs to underpin business planning and resourcing. Step 2 We develop a large talent pool. We will identify suitable candidates from our pool and ensure they have the right skills and qualities for each role. When it comes to screening, interviewing and induction, we can do as much or as little of this process as an organisation needs. And we can also support with interview arrangements, such as venues, administration and COVID-19 compliance. Step 3 Recruitment and review. We will keep in touch to see how new employees are progressing and what more we can do to help. It may be that we can support with further skills training, or arrange a plan to help with the next recruitment cycle. We carefully monitor each individual to ensure progress is tracked and support is given where needed. 20-21.qxp_Layout 1 08/01/2021 09:44 Page 1www.blmforum.net Business Link 21 REED IN PARTNERSHIP Q&A Which industry sectors are you supporting and where are candidates based? We are delivering the WHP JETS scheme across Yorkshire and areas of Derbyshire and Nottinghamshire plus all of North East England. We have thousands of skilled candidates available now for roles across an array of industries, including: • Logistics, transport and distribution • Professional, business and financial services • Manufacturing • Creative and digital • Health and Social Care • Construction and more I must stress that these individuals are highly skilled and we have bolstered their existing competencies with the latest relevant industry-backed training to ensure that they are ready to hit the ground running and make a positive difference to any business. What advantages does WHP JETS bring to businesses and candidates? We have carefully curated each element of the scheme to support and assist businesses through what we know is a difficult time. As part of the Reed Group, we have a wealth of experience of working with employers of all sizes, across multiple sectors. Moreover, this government- backed scheme represents a huge cost saving for companies who could otherwise spend on average £4,500 on a recruitment agency – they can access the same service and support from us through WHP JETS, but for free. We recognise that a business’ core assets are its people and that’s where this scheme really stands out. We are passionate about developing people, providing advice and guidance to align individual’s skills to relevant opportunities, and also developing a personal plan of action to organise all the required support as well as providing access to financial support for a range of job searching activities such as transport and workwear. The candidates we are nurturing are employment-ready in the real sense of the term, equipped beyond your typical employability training and boasting years of experience and well-honed skills, specific to the industries they are re- entering. All of our candidates benefit from access to training courses for work- related skills in the relevant sector, plus additional support to boost their confidence, transferring their skills to a new role with a keen eye on their health and wellbeing. This is all to ensure they can hit the ground running from day one in the business. Not only is the WHP JETS scheme fully funded by the Government, employers can be proud of the fact that they are simultaneously growing their business and supporting their local communities by recognising and retaining talented individuals who are equipped and ready for a new opportunity. As well as undertaking screening and interviewing on behalf of the employer to save them further time and money – we work with each business to develop a training and induction process to save organisations time and resource, and develop course content in close consultation with business leaders ensure relevance. Our tailored training programmes, expert sector-specific guidance and support (provided at no cost to the recruiting organisation) ensure candidates and employers are carefully united to underpin business needs and growth objectives for employers and individuals alike. WHP JETS is commissioned by the Department for Work and Pensions and part-funded by the European Social Fund. For more information on how to fill your vacancies with WHP JETS, please visit www.readyforeverything.co.uk email hello@readyforeverything.co.uk or call 0800 025 3058. REED IN PARTNERSHIP Success Story “I have been thoroughly impressed with my experience with Reed in Partnership. I had been job-hunting after a series of fixed-term contracts ended and knew I needed a career change into a more stable industry. However, it was difficult to know where to turn for advice and Covid-19 meant that the job market was extremely limited. So, when I was contacted by Reed in Partnership it meant the world to me to have someone supporting me through a really challenging time. The support that Reed in Partnership provided was just what I needed to build my confidence back up and persevere with my job hunt. I believe having this support network boosted my confidence when I interviewed for the job that I was ultimately successful in gaining.” – WHP JETS candidate. 20-21.qxp_Layout 1 08/01/2021 09:44 Page 222 Business Link www.blmforum.net SUPPORTING BUSINESS GROWTH As the pandemic continues to intensify and the nation is once again placed in lockdown, businesses need access to support now more than ever. From business advice and financial aid, to training staff, we explore the ways in which companies can reinforce themselves and lay the groundwork for future growth. support Securing 22-25.qxp_Layout 1 08/01/2021 09:46 Page 1www.blmforum.net Business Link 23 SUPPORTING BUSINESS GROWTH © Shutterstock /Rawpixel.com Economic pressures and uncertainty in the wake of the coronavirus crisis have led to companies reviewing their sources of finance, exploring ways to reduce overheads and, of course, exploring the aid on offer to support growth. Although many of the financial support schemes introduced by government during the first national lockdown are still in place, there are other sources of financial support open to business. Together, they can help to contend with major issues affecting SMEs such as late payments – an issue that has only intensified in the wake of the pandemic. Fortunately, there are ways in which a company can secure funding to cover the gap in cashflow posed by late invoices. Chief among these is invoice finance. This is the simplest means of releasing cash tied up in a businesses’ outstanding invoice. It sees a business sell its invoices to a third party who will advance some of the funds it is worth up front for a cut. Thousands of businesses already rely on this kind of financing to maintain a healthy cash position, whilst others use it to take back control of cashflow issues that arise from late and unpaid invoices – more so since Perhaps the biggest draw is that businesses can be paid most of an invoice within forty-eight hours instead of the typical thirty-day period specified on most invoices. Elsewhere, asset-based finance is a specialised method of providing companies with working capital and term loans that use accounts receivable, inventory, machinery, equipment and real estate as capital – essentially, any loan to a company is secured by one of that company’s assets. This option is commonly used to pay for expenses when there are gaps in a company’s cashflow, but it is also frequently used for start-up financing as well as refinancing existing loans, financing growth, mergers and acquisitions, as well as management buy-outs and management but-ins. Although it’s not suited to meet every 24 Á 22-25.qxp_Layout 1 08/01/2021 09:46 Page 224 Business Link www.blmforum.net SUPPORTING BUSINESS GROWTH business requirement, it can prove useful for those that have stretched their credit limits with vendors and reached lending capacity at the bank. Companies can also take out loans to fill the gap and bolster cashflow, though some companies may already be at their limit with their banks or otherwise don’t meet the requirements for securing loans with traditional lenders. In these situations, companies can turn towards alternative lenders and finance providers. Private equity, for example, is where investors provide long-term equity capital investment in a company in return for either shares, a percentage stake in the business and/or, sometimes, a seat on the board. Although many businesses might be loath to dilute their ownership, private equity does offer a good option of raising capital for businesses that aren’t ready to list on the stock exchange. Another form of private finance is an angel investor – a high net worth individual who makes use of their own personal disposable finance and makes their own decision about making an investment. Angels would normally take an equity stake in a business in return for providing equity funds. As well as capital, angels can also provide their experience, knowledge and contracts, making them especially attractive to early stage businesses. Every investor is different and will therefore provide differing amounts, but typical investments range from between £10,000 and £500,000, though deals of up to £2 million are becoming more commonplace as angels group together in syndicates. Although angels are one of the most significant investors in start-ups, that shouldn’t deter more established firms from making enquiries. It’s important to keep in mind that securing an angel can be a difficult and protracted process, as well as being harder to research and contact compared with a private equity firm. Although securing finance of one form or another is a way in which companies can strengthen cashflow, there are other options such as reducing overheads and operating costs and downsizing. Depending on the company and, indeed, the severity of the financial shortfall, this approach may be pursed independently or in conjecture with invoice financing or a loan. In this current financial climate, with the effect of the pandemic, and with the end of the furlough scheme forcing many employers’ hands, a lot of businesses may soon be looking at redundancies as a necessary way to improve and increase their cashflow. Payroll is often the biggest expense for a business so, in times such as these, it’s often one of the first places bosses or financial advisors will look at to save money. It’s a simple but effective method – a company can save tens of thousands of pounds a year by letting staff go, be that through shuttering whole departments, or consolidating multiple job roles into one. Although nobody wants to lose their jobs, it’s often necessary for companies to take such measures to stay afloat and to continuing trading through this period of increased economy strain and uncertainty. However, it’s worth noting that there are other ways to cut payroll costs without letting staff go – such as cutting salaries, turning full-time staff into part-timers, cutting bonuses, enacting leaves of absences and shortening the working week. One of the key decisions that company bosses have to contend with – especially during lean times when they’re trying to save costs – is whether to take on new staff or upskill existing employees. Of course, there’s pros and cons for both choices but, regardless of the decision, there will be a learning curve. New employees will need to familiarise themselves with a company’s operations and culture, whilst existing staff will need to take time out of their duties to learn new skills. But the benefits of training are legion. The benefit of training is that it’s flexible, working as much around a company’s needs as possible. While there are specialists training facilities, many training providers will also come to an employers office or site. Yet, in the wake of the coronavirus pandemic, online training has grown in popularity and prevalence. Although online training has existed in one form or another for decades with many people – from students right through to senior staff – taking advantage of it. Since the first lockdown, however, it has exploded in usage as apprentices look to maintain their learning, companies complete their employees’ training, and individuals that are now based from home, or have been made redundant in the wake of outbreak, to upskill. Outside of the pandemic, the appeal and popularity of online training lies in its flexibility. From a home office or smart device, it can be worked around any schedule, fitting in with other engagements and appointments. It can also even be undertaken on-the-go, turning that daily train or bus commute into a learning opportunity. That same flexibility is what gives online training an edge, allowing an uninterrupted learning stream for all manner of individuals while they observe social distancing regulations. Small surprise that many traditional training providers have made the transition to online learning, in part or in full. No doubt misconceptions existed around online training before the pandemic with some employers perhaps reluctant to use them over the misguided perception that they aren’t the equal of © Shutterstock /Rawpixel.com 22-25.qxp_Layout 1 08/01/2021 09:46 Page 3www.blmforum.net Business Link 25 SUPPORTING BUSINESS GROWTH NEW BUSINESS OPPORTUNITIES ar This project has helped hundreds of local businesses gain access to over £350,000 of funded specialist business support We can help in areas such as: Brexit and customs clearance Marketing strategies HR advice, reviewing contracts and GDPR audits Business planning & financial forecasting Improving productivity efficiencies within the business Access to match funding grants SPEAK TO ONE OF OUR BUSINESS ADVISORS ON 01469 428449 gainingadvantage.com Fully-funded business support is available for businesses in logistics, ports, renewables and those providing a service to these sectors. in-person training or lack the range of subjects. This couldn’t be further from the truth. Online courses cover a diversity of subjects from health & safety, administration and quality assurance right through to management and everything in between. Because of the nature of e-learning and the flexibility we’ve already touched on, it means training providers are uniquely positioned to get creative with their content and how it’s delivered. This ‘out of the box’ thinking offers a great opportunity to make courses and learning content more engaging, memorable and, thusly, more effective. It also means that content can be continually refreshed and updated with the latest research and findings in a way that traditional location-based courses simply can’t compete with. Providers also have access to analytic data from which they can see what does and doesn’t work about the courses they provide and, crucially, the way in which they’re delivered. From securing capital to upskilling staff, there’s a myriad means of support for companies to help secure themselves in the present and pave the way for future growth. 22-25.qxp_Layout 1 08/01/2021 09:46 Page 426 Business Link www.blmforum.net 2021 BUSINESS PREDICTIONS Looking Rick Smith, Managing Director of Forbes Burton 2020 was a busy, yet difficult year for the insolvency and business recovery industry. While the year was fairly static for us, with no dramatic rise or fall in businesses, we have been able to stay in good standing by re-aligning our services and focusing on our consulting work and investing more heavily in our marketing. There can be no doubt that the industry that we are in, insolvency and business recovery, has been massively impacted by the Covid-19 pandemic. While there is usually a steady stream of businesses falling into insolvency, many were saved by the Chancellor’s financial support packages. Surprisingly, there has been a 39% reduction in the number of corporate insolvencies this year. Regardless, we’re expecting 2021 to be busy. All those businesses which would have failed naturally but have been kept afloat will most likely fail again as soon as the government support packages are lifted. That will produce a busy time for us and is one we’re already preparing for. We can also expect an increase in insolvencies as the furlough scheme ends in April. The challenges ahead are many and varied. Brexit will also undoubtedly play its part in business problems in 2021. It will have both positive and negative implications, some of which will be wide-reaching. Businesses will face difficulties depending on trade agreements and how they do business with the EU. However, there are also opportunities to be had in the new trade agreements which are being drawn up outside the EU. Whatever 2021 throws at us, we’re prepared to meet it head-on. It’s that time of year, when Business Link magazine invites the region’s business leaders to offer up their predictions for the year ahead. It has become something of a tradition, given that we’ve been doing this now for over 30 years. 26-29.qxp_Layout 1 08/01/2021 09:48 Page 1www.blmforum.net Business Link 27 2021 BUSINESS PREDICTIONS ahead Kenton Robbins, Group Managing Director at PFF Packaging Group The landscape of global recovery is on the up and the panacea of vaccines has become a reality. With all this positivity it pains me to think of the long-term impact of the virus, coming on top of Brexit and the financial long haul needed to deal with one of the most challenging years in living memory. Brexit will undoubtedly create a mass of additional work as businesses come to terms with profound change coupled with the ongoing restrictive workplace practices made necessary by Covid-19. On a more positive note, the renaissance of British industry and manufacturing is here to stay, boosted by innovation and increased consumer demand for goods that are ‘Made in Britain’. The definition of value and quality will be further highlighted by the impact of Brexit. We will learn to eat and buy more of what we have made in the UK – or pay a premium for imported goods. Smarter consumers will demand an instant product and that will be better served by UK plc. The fourth industrial revolution will continue to pick up pace, with more UK businesses working collaboratively in the supply chain and smart technology, together with ongoing automation of manufacturing and industrial processes, both driving business growth. A heightened focus on all aspects of sustainability through all stages of the manufacturing and business supply chain will see Net Zero targets on carbon emissions. Consumer attitudes will also shift to more informed decisions on green issues as more detailed and nuanced data emerges on the environmental impacts of low carbon footprint and the recyclability of previously avoided materials like plastic. More educated consumers will see the true value of materials that can be returned to the recycling chain for reuse time and time again. As with all challenges, 2021 needs to be faced head on. The New Year needs grabbing by the scruff of the neck and dealing with, so let’s all head into 2021 with the attitude and determination to make it a good one! 26-29.qxp_Layout 1 08/01/2021 09:48 Page 228 Business Link www.blmforum.net 2021 BUSINESS PREDICTIONS Dan Wilkinson, Grimsby-based businessman and Managing Partner of Northern Powerhouse partner nordstar* consulting UK Whenever you look forward and try to predict and forecast the future, you need to first look back to where you have come from, and looking back over the last few months there has been a great deal of forced change and upheaval for businesses. The view into 2021 is thematically very similar, with the prospect of a post-COVID, post-Brexit world ahead of us. But, as we know, change is a constant companion in business, so I also see potential opportunities for organisations that are well prepared. If collectively we’ve learned anything, it’s that you have to think and act rapidly during 2020 to remain relevant and survive. But importantly, those that were able to adapt quickly last year will continue to flourish, those without the business model or willingness to change will not. There are three main themes we have focussed our clients on this year, and I see these as being vitally important to consider through 2021 and beyond. Given the shift we have seen this year, customers will be more discerning and looking to spend their money more wisely than ever. By really listening and putting customers at the heart of what they do, will be the vital differentiator for businesses of all sizes. Digital transformation plans have been brought forward significantly as a result of the pandemic, and will continue to be the new normal for business. This is putting customer interactions at the forefront and going beyond those standard channels for commerce, with even more engagement through social media. The shift to remote working is not a temporary thing. Events in 2020 were a catalyst for rapid change in this area too, and people are set on the new work life balance afforded by technology. In 2021 this will blend with the benefit of being face to face when needed as things start to normalise. Now, more than ever, is when bold plans will reap the biggest rewards, so if you’re able and open to change, your business may not be the same, but it will still be there and stronger for the experience. So with that in mind I think that 2021 will have some real opportunities and give us all something to feel positive about. Mandy Watson, Co-Founder and Managing Director of Ambitions Personnel 2021 will likely be another turbulent year. We’re still in the midst of the Covid-19 pandemic, and although the end is in sight, there will be more hardships before we can all get back to living our lives the way that we want to. It isn’t all doom and gloom, however, and many businesses are looking to make next year one to remember for the right reasons. We have seen many changes in the way people work in 2020. The shift to remote working was on an unprecedented scale, but will it become the norm? We’ve seen headlines suggesting that remote working could be here to stay, but also suggestions that those who work from home could be paid less than their office-based peers. It’s hard to say exactly what the future holds for remote work, but it’s certainly something that we should keep a keen eye on in 2021. Some will still want the working environment an office provides, others will want a flexible arrangement. Some businesses continued operating well through what could have been an incredibly disruptive time. Those that were able to maintain a good level of productivity and customer service have performed well over this period, but what does that say for those who have struggled? Next year, we can expect to see a widening gap between those who provide excellent customer service and those who don’t. There will be repercussions for those businesses who fail to put the customer first, and those that do will reap the rewards. 2020 saw a trend towards businesses who are more customer-centric, and we can certainly expect to see that trend continue into next year. Another trend we can expect to see continue is the ever-growing rise of automation in almost every industry. For recruiters, more automation is needed, as there are still precious hours wasted on administrative tasks that could be easily automated. In this industry, where time is at an absolute premium, the more hours that can be spent doing productive work and finding placements for candidates, the better. It’s unlikely that we’ll ever see automation replace the human elements of recruitment or the entirety of other industries, nor should it. The candidate experience should always be warm and welcoming, not cold and clinical. It is a balance that the industry will have to find, but we welcome it all the same. There is a sense of optimism for the post-Covid economic recovery. It will likely take years to recover the losses suffered over the last few months, but there is always recovery after a recession. The same applies for recruitment, and while we have seen historic unemployment since this pandemic began, we can be confident that there will be a recovery. Recruiters can expect a steady influx of work as businesses begin to hire again while the economy recovers and grows. Job seekers who have perhaps struggled during this pandemic will see the number of vacancies slowly rise, and we can expect it to be a busy time again for hiring managers and HR. We’re all looking forward to those days when they arrive. 26-29.qxp_Layout 1 08/01/2021 09:48 Page 3www.blmforum.net Business Link 29 2021 BUSINESS PREDICTIONS James Pinchbeck, Partner at Streets Chartered Accountants To say that 2020 was a challenging year is probably an understatement. Facing unprecedented circumstances businesses have been resilient, innovative and enterprising. What then does the year ahead look like for business leaders and their businesses? For me I believe 2021 will truly be a year of opportunity, much of which will be in response the lasting impact of the pandemic but also driven by the need to respond to adversity which has affected most if not all of us. The last 12 months has seen a growing number of start-up businesses, this is certainly set to continue over the coming year with those switching from employment to self-employment and looking to bring to market a new business idea. Ironically, perhaps the current economic climate is one which favours the success of a new venture. Whilst gaming rocketed during lockdown, so did the use and application of technology in business and across the workforce. As we embrace new ways of working and look to improve productivity, investment in technology is set to provide significant opportunities for technology providers as well as those supporting the training of IT skills. Restrictions on the way we do and run our businesses have and are likely to continue to see more and more of us adopting new business models, exploring new ways of working, looking at ways of meeting customers’ needs and innovation in marketing our businesses. All provides exciting opportunities for those of us who embrace change, like problem solving and are bold to take on new ideas. Whilst in lockdown the collective benefit of working together may have been limited, the year ahead is likely to see a quest for and the benefit of more collaborative working. Finally, whilst many might find it another financially challenging year, and one perhaps in which it is difficult to reward staff and colleagues, it certainly could be one which provides the opportunity for acknowledging effort and for having a greater sense of empathy and compassion for each other. Richard Heslop, Managing Director of DE Commercial The commercial property market in 2021 will be dominated by 2 major events: Brexit and Covid- 19. The uncertainty caused by both will take us into uncharted territory not seen since the financial crisis of 2007/8. How the Government and the country deals with these will define the market in 2021. However, uncertainty often brings opportunities. Let’s take offices. The second half of 2020 was dominated by talk of the effects of the virus on the office sector. Financial institutions were gearing up to have the majority of employees working from home and there were real fears that there would be swathes of empty office buildings across town centres in 2021 and beyond. Fortunately the discussion has moved on, as both corporates and SMEs consider the impact of home working, including the psychological impact of working alone, the lack of interaction and the lack of creativity. The result is that we will see some additional vacant office space and the resultant dampening of rental growth, but there will be a desire to retain the ‘office environment’ with more attention being paid to the welfare of employees. Meanwhile the retail sector continues to carry the double burden of the inexorable rise of online retailing and the expense of business rates. Consumers continue to strengthen their relationship with online shopping and the high cost of business rates continues to impact on profitability and affordability for the small independent retailers. Certainly the demise of Debenhams and Arcadia will have a significant impact on the High Street. But now is the time when the public and private sector must work together, be creative and innovative and develop high street retail for the 21st century. The existing model has become tired and outdated. It is time to bring more people to live in our city centres which, in turn, will attract independents. Consumers have not fallen out of love with ‘bricks and mortar’ shopping – they just want an experience that interests and excites and this will happen if the public and private sector work in partnership to deliver a retail revolution and breathe life into our high streets once more. The industrial property picture is much brighter. 2020 was another record year for take up in the region and there is no sign of any slowdown towards the smaller end. DE Commercial is working with developer clients to bring three new developments on stream during the latter part of 2021 and early 2022. This end of the market remains buoyant and will continue to do so throughout 2021 as both investors and owner occupiers look to invest in an asset class which continues to outperform competing classes in terms of returns. But one note of caution - there will be a slowing down of demand for large sheds in early 2021, as the impact of rising unemployment and reduced government assistance takes hold. 26-29.qxp_Layout 1 08/01/2021 09:48 Page 4Next >