< PreviousTHE BUDGET10Business Link www.blmforum.netSimon Holt, G&E WealthManagement"If people are irresponsible in the waythey use the new pension regulations,then these changes could become asocial nightmare, which will come backto haunt them and the UK for manyyears to come."The proposal is that most individualswould be able to take all of theirpersonal pension fund at any age from55 as a lump sum, rather than beingforced to draw some of it as an incomefor life."Clearly, a 55-year-old can typicallyexpect to live another 25 years but thetemptation to go on a huge spendingspree is going to be too much for someto resist. This could have disastrousconsequences, leaving people withnothing to live on in old age."Nigel Foster, President of LeedsChamber of Commerce“Measures to help exports, measuresto support investment, spending oninfrastructure, all these are welcomedand will help to support economicgrowth, which is what members werehoping for. Extending the Apprenticeships Grantfor Employers was one of the keyrequests of the Chamber movementand so we are pleased to see thatincluded. Incentives to boost house-building will be welcomed by membersand could help to supply much neededhousing in Leeds. It seems that theChancellor has listened to businessesthis time: concerns previously raisedon energy costs, export finance,transport resilience have all seen someform of action today.”Jeff Pearey, JLL“It was pleasing to hear theChancellor announce that start-up fundswill be made available to help launchnew services from regional airports andthat he specifically mentioned LeedsBradford. This will help stimulateactivity as well as making it easier forcompanies to export. Connecting ourregion with additional European cities,and indeed further afield, certainly helpsto endorse Yorkshire’s business sell tothe wider world as well as providing agreat platform for tourists wishing visit.”John Longworth, Director General ofthe British Chambers of Commerce“Business wanted a Budget that wasdisciplined, focused, and gearedtowards the creation of wealth and jobs– and that’s what the Chancellor hasdelivered.“With a huge confidence gap stillseparating employers from young job-seekers, we are very pleased to see theChancellor heed our call to help firmstake on and train tomorrow’s workforce.Overcoming that confidence gap meansmore investment in young people, moreapprenticeships, and more jobs, whichare critical with more than 900,000 16-to-24-year-olds still out of work.“Osborne’s focus on investment,exports, house-building and economicresilience passes the business test. Bymaking a better business environmentOsborne’ssaving grace?Simon Holt, G&E Wealth ManagementNigel Foster, President of Leeds Chamberof CommerceJeff Pearey, JLLWas the Budget as vanilla as it seemed? We ask businessleaders throughout the region whether George Osborne’sspeech was a good one for business.10-11:Layout 1 28/3/14 11:03 Page 1Business Link 11www.blmforum.netTHE BUDGEThis top priority, the Chancellor hasrecognised that successful andconfident companies are the key totransforming Britain’s growingeconomic recovery into one that is feltin homes and on high streets.“As with any Budget, there weresome populist measures that were notat the top of business’s wish list.Luckily, these were far outweighed byconsidered measures to supportbusiness growth and wealth creation.”Herman Kok, board member for theGreater Lincolnshire LEP“The budget has talked about buildinga resilient economy, which is somethingwe support and are working towardsacross Greater Lincolnshire.“It has revealed no real surprises, andis a budget focussed very much onencouraging business growth, in turnhelping to boost both the national andlocal economies.“We welcome the extra cash supportfor flood defences, roads and housing,and we are pleased to see that theBudget is offering opportunities forbusinesses to make investments,increase export activity and developmore British-made products.“The Chancellor talked about backingall regions of our country in developinga strong manufacturing industry.Manufacturing is a key priority for us,so we welcome the news thatmanufacturing firms – which contribute£1.8 billion a year to the local economywhen combined with engineering – willget a £7 billion package to cut theirenergy bills.“With the Ports of Grimsby andImmingham playing a key role inimporting and exporting there will be ahuge opportunity for business growthas firms embrace the doubling offinance available to exporters to £3billion. We hope that this funding willflow through the North-EastLincolnshire docks, bringing moremoney to our local economy. We alsowelcome the extension of businessrates retention and capital allowances atEnterprise Zones – benefit enterprise onthe South Bank of the Humber.”John Cridland, CBI Director-General“The Budget will put wind in the sailsof business investment, especially formanufacturers.“This was a make or break budgetcoming at a critical time in the recoveryand the Chancellor has focussed hisfirepower on areas that have thepotential to lock in growth.“The CBI has pushed hard for thissignificant and much-needed energypackage that will help keepmanufacturing jobs in the UK, whileunderpinning vital investment in newenergy.“The doubling and extension of theAnnual Investment Allowance, togetherwith making the seed enterpriseinvestment scheme permanent, will bea shot in the arm for many medium-sized businesses.“On pensions, what’s important isthat people on low incomes can makemore informed decisions on definedcontribution schemes. For many, thatwill still mean taking advice and buyingan annuity, but the increased flexibilitywill be welcomed."We are pleased that the Governmenthas chosen to consult on theimplications of making a similar changeto defined benefit pensions as stabilityfor these schemes is essential."Changes to the ISA system reflectour call to help rebuild a savingsculture."John Longworth, Director General of theBritish Chambers of CommerceHerman Kok, board member for GreaterLincolnshire LEPJohn Cridland, CBI Director-General“With the Ports of Grimsby and Immingham playing a key rolein importing and exporting there will be a huge opportunity forbusiness growth as firms embrace the doubling of financeavailable to exporters to £3 billion.”Herman Kok, board member for the Greater Lincolnshire LEP10-11:Layout 1 28/3/14 11:03 Page 212Business Link www.blmforum.netSomething to say? Write to: Business Link Magazine, Armstrong House, Armstrong Street, Grimsby,North East Lincolnshire DN31 2QE or email: letters@blmgroup.co.ukReaders’LETTERSReaders’LETTERSOn track?Dear Sir,I agree HS2 offers an opportunity to regenerate localeconomies, provide jobs and boost growth acrosscommunities in the UK. But can government, localauthorities and businesses work together to ensure thepotential of this project is realised? Lord Deighton’staskforce rightly challenges local areas to get their HS2growth strategies in place. It is essential these planscomplement and enhance other local initiatives, such asthe Local Enterprise Partnerships’ Strategic EconomicPlans and Local Authorities’ development plans. A highlyskilled workforce will be critical to delivering HS2 and Iwelcome the taskforce’s call to put in place measures tomake this a priority.N WalkerLondonMind the gapDear Sir,While you state that growth and jobs in the future will dependon the UK having a workforce that can exploit new technologiesand discoveries. The growing skills vacuum is threatening therecovery, as demand from firms is outstripping supply.Highly-skilled workers are essential for our growth sectors andit will be those young people with science and maths who will goon to become the engineers and new tech entrepreneurs oftomorrow.The Government must explore if it’s possible to reduce thecosts of some of these courses and create a one-year crossoverqualification at 18 for those who turned away from science andmaths after GCSEs, but now want to take a related degree.F WingateYorkKeeping confidencesDear Sir,Isn’t it about time you interviewedbankers? Although overall net lendingremains positive, lending to businessesis still subdued so it’s right the Fundingfor Lending Scheme is now focussedsquarely on business lending. Theincrease in confidence among smalland medium-sized businesses shouldsoon translate into greater demand forfinance and it’s important this is met bythe FLS. S WilliamsLeedsMaking it bigDear Sir,I read with interest your view that the picture in themanufacturing sector remains positive. Overall,demand continues to rise and output growth isrobust. As we all know, growth in exports is crucialto rebalancing the economy and ensuring asustainable recovery. Over the last few surveys,manufacturing export orders have underperformedrelative to overall orders as the UK’s domesticrecovery has caught hold more quickly than some ofour key trading partners – most particularly, theEurozone. Perhaps measures announced in theBudget will help businesses to break into new, fastergrowing markets and underpin an improvement inthe UK’s export performance.P WatersLincoln12:Layout 1 28/3/14 10:39 Page 1Business Link 13www.blmforum.netCOMMERCIAL PROPERTYWith 2014 having revealed dozens ofcommercial property developmentsalready, other long-term projects arenearing completion or entering themarket anew. One large development inthe Lincoln area for example is the newBeal Developments retail andcommercial development at The Quays,located at Lincolnshire’s inland marinaBurton Waters, which is a step closer tocompletion. The waterfront promenade of retailand office units at The Quays is set tohouse nine self-contained, mixed-useunits, which are to be launched for saleor to let this spring. Beal Developments is well underwaywith construction work. Nowapproaching shell stage, the units offeropportunities for single or multipleoccupation, with unit sizes ranging from61 square metres up to 146 squaremetres. Burton Waters covers 140 acres andalready includes an active marina, DavidLloyd Sports & Health Club, fishing lake,an oriental restaurant, wine bar andpublic house. An existing promenadeof shops and offices, The Landings, waslaunched a few years ago and TheQuays will create a ‘mirror’ commercialdevelopment across the main, boat-lined marina basin.Over 350 continental-style homes arealready occupied at Burton Waters andare within walking distance of the unitsat The Quays and, in addition to privatemoorings, the Burton Waters Marinaincludes over 200 further moorings.Being developed to a high standard,units at The Quays will have a Grade Aspecification and each will face onto anattractive, tree-lined, pedestrianwalkway along the edge of the marina.The units will also benefit from 24 hoursite security.Across the border in South Yorkshire,there is apparently ‘massive’ benefits tobe had from the Government’s recently-announced extension to the EnterpriseZone scheme.The claim comes from industrialproperty experts at the Sheffield Officeof Knight Frank, who anticipate anincrease in industrial propertydevelopment and occupier activityfollowing a Government announcementthat the Enterprise Zones have beenextended within the south Yorkshireregion to March 2018, from a previousend date of March 2015. As well as the three-year extension tothe EZ, new sites in the South Yorkshireregion have been allocated EZ status,15 A busier timeWith new developments being snapped up, could this be the year our region sees a markedimprovement in the commercial property market?Beal Developments look set torelease a new portion of commercialproperty very soon at Lincolnshire’sBurton Waters.13-15:Layout 1 31/3/14 10:57 Page 1PREMISES?FLEXIBLENEED1 - Walk in 2 - Sign up 3 - Move inIt’s as easy as 1,2,3 with BizspaceChamberlain Business CentreChamberlain RoadHullHU8 8HL Instant access Centre team Offices Workshops Meeting Rooms Hot-desking Car parking CCTV & Security Close to amenities Flexible termsContact Gill on01482 214 770Keep the office clear & your diary full; 3 for 2 on all meeting room and hot desk bookings Chamberlain Business Centre in Hull is a well-established propertyoffering offices, workshops, industrial units and storage space torent, as well as a brand new meeting room and hot desk facilities. We have friendly, on-site staff, with a manned reception from 9am– 5pm and free parking on-site for customers and their visitors. With offices available from 148sq ft., we provide managed officeswith flexible terms. Take advantage of our introductory offer, and get 3 meetings for the price of 2* on allmeeting room bookings. Plus, our new hot desk room is available to rent by the hour, with Wi-Fi connectivity, book a desk for 3 hours and only pay for 2* *Limited offer. Terms and conditions apply. 13-15:Layout 1 31/3/14 10:57 Page 2Business Link 15www.blmforum.netCOMMERCIAL PROPERTYwhich include Smithywood BusinessPark and Vantage Park in Sheffield andBarnsley’s Capital Park.Rebecca Schofield, Partner at KnightFrank, says, “The Enterprise Zoneextension to 2018 is great news andcould massively benefit SouthYorkshire’s industrial propertydevelopment as well as itsmanufacturing businesses.“The market is beginning to improveand this coupled the capital allowancesavailable for qualifying occupiers, willhopefully result in new development,both on a build to suit basis andpotentially via some speculativedevelopment, which is likely to be atthe smaller end of the size range. “To date, we have seen limited newdevelopment across the region, butwith the extension, we anticipate thatthis will help stimulate growth,especially now that we seem to beturning a corner in respect to thegeneral market.“We have, however, witnessed somespeculative development at ShortwoodBusiness Park at junction 36 of the M1,where a local developer hasspeculatively built 70,000 sq ft across12 units. “This accommodation has provedhugely successful and the businessrates relief which has been available toqualifying tenants as a result of theEnterprise Zone status has undoubtedlyhelped to secure some of the occupiers. “The capital allowances available atspecific Enterprize Zone sites areparticularly relevant to manufacturingtype occupiers, helping to strengthenthe region’s manufacturing hub,because plant and fit-out expenditurefalls within this allowance.”Sheffield City Region EnterpriseZone’s area increase is equal to almosta half of its original footprint, and wasannounced earlier in March by theregion’s Local Enterprise Partnership,prior to the Government’s budgetannouncement of a three yearextension to the EZ programme.What a relief! As well as new projects, there’s beensome potentially costly newsannounced regarding tax relief. UKcommercial property owners couldapparently be sitting on an estimated£1 billion in unclaimed tax relief,according to capital allowancesspecialists, Catax Solutions.But from 1st April, when the 2012Finance Bill will finally be implementedfollowing a two-year transition period, asizeable proportion of that unclaimedtax relief is going to be lost forever.For any individual or business thatowns commercial property, this date isvital: from that moment on, unlessunclaimed capital allowances areidentified and documented at the pointat which commercial properties arebought or sold, they will be lost,forever.Very few of the parties involved incommercial property transactions — theowners, lawyers, financial advisers andaccountants — understand theimpending changes to the tax regime.In some cases they are not aware of itat all.The result is that a very largepercentage of transactions are likely totake place this year where all unclaimedcapital allowances relief is lost to boththe buyer and the seller. And this willcarry on during the following tax yearsunless awareness of this area of taximproves.Mark Tighe, Managing Director, CataxSolutions, says, “Unless they sit up andtake note of the legislative changes thatare now upon us, Britain’s commercialproperty owners will be haemorrhagingtax relief in the coming financial year —and every year thereafter.“Unfortunately, the loss of a sizeabletax benefit is only the start. Things arelikely to get litigious for any party thatoversaw the transaction — whetherlawyer, broker, accountant or financialadviser — when their clients discoverthat they have lost potentially sizeabletax relief. If awareness levels stay asthey are then, from a legal standpoint,the next few years could be fractiousand represent a considerable financialthreat.”Time to get these affairs in order thenperhaps, but for those who have paidattention it could prove to be a year toremember in commercial property.Shortwood Business Park inSouth Yorkshire is just oneexample of areas holdinggreat potential according toKnight Frank.UK commercialproperty owners couldapparently be sitting onan estimated £1 billionin unclaimed tax relief13-15:Layout 1 31/3/14 10:57 Page 3DESIGN & MARKETINGTo listen to some you would think that marketing is nowsomething that requires virtually no effort. Simply send a tweetor post something on Facebook where the whole world can seeit, and wait for the enquiries. Yet it’s a fact that the potential forcompanies’ marketing plans to backfire on them has increasedhugely in recent times and those who enter into it without acoherent marketing strategy can enjoy lukewarm results at bestand disaster at worst.It used to be that a poorly devised marketing campaign wouldresult in, at worst, lower sales than expected and maybe a bunchof unused promotional items. Now, though, misjudging anyaspect of a marketing campaign can lead to a brand beingcompletely tainted, as well as not just apathy but in some casestotal hostility from potential customers. Social media, forexample, is a two-way process and as well as you getting intouch with your customers, so can disgruntled clients and staff.One issue many companies have had with social media iswhen they’ve been under the impression that all publicity isgood publicity, and as long as their name is out there that’s fine.However, this has been likened to trying to shout your messageabove he roar of a football stadium.It’s also worth bearing in mind that trying to sell offers throughsocial media is a real turn-off. Companies can spend precioustime and money on social media only to discover that no-one’slistening.Indeed, while the whole world is now at most people’sfingertips, it does seem to be the case that consumers remainpretty conservative and need good reasons to venture from theirtrusted brand – often those that have been built using traditionalmedia. This has the added disadvantage of ensuring users oftenskim past advertisements and promotional material as they feelthey already know what they’re looking for.In fact a recent survey by the Chartered Institute of Marketingsuggested that, a third of the time, social media is being used aspart of an individual campaign, rather than something which isgenerating new business on a regular, ongoing basis. It seemsthat for many, social media is something used as a brand-building exercise first and foremost, while those who wish to getWhat’s the right combination to make sure youget your message across most effectively?Events such as those runby Hull Bondholders areallowing small businessesto market themselves onthe big stage16Business Link www.blmforum.netMastering themarketing mix16-19:Layout 1 28/3/14 11:10 Page 1DESIGN & MARKETINGacross solid information to an informed and engaged audiencefind more traditional methods work better.The challenge for companies looking to expand theirmarketing message is to ensure they can punch above theirweight. The rise and rise of the internet in recent years was,ostensibly, to allow for a level playing field and for allcompanies to be competitive whether they’re based in Louth orLondon. Yet larger companies often continue to dominate asthe smaller businesses aren’t able to devote the time necessaryto a more effective marketing strategy.It’s often a lack of commitment that has stopped smallbusinesses able to benefit from the new marketingopportunities. It used to be that businesses would have to relyon exhibitions and conferences to get their brand out to a newaudience but nowadays you can be prominently displayingyour wares 24 hours a day, to an international audience. Thishas its own pitfalls, however – as it means your company isalways on display and the information needs to be up to date.There have certainly been examples in recent years of majorretailers accidentally selling products at substantially belowtheir value due to typographical errors or inaccuracies, andindeed LCF Law is urging firms that sell products online todouble check their terms and conditions to avoid significantrisks. Even if this isn’t the case, a company whose website offer“latest news” from no more recently than two or three yearsago is unlikely to impress too many clients who will simplyassume you’ve done nothing more recently worth talkingabout.In some cases, businesses are happy to assign theresponsibility of setting up a Facebook page or a Twitter feed toan individual employee and let them get on with it. While thiscan sometimes bring about benefits in terms of customerengagement and putting a human face on the company, if thereis no direction from head office, the chances of creating18 PHOTO: SHUTTERSTOCK.COM/JMIKSwww.blmforum.netBusiness Link 1716-19:Layout 1 28/3/14 11:10 Page 2DESIGN & MARKETING18Business Link www.blmforum.netsomething that can embarrassinglycontradict existing material are verygreat – which could tarnish thecompany’s hard-won reputation ifwhat’s produced is unsuitable.This is one reason why manycompanies are now working together aspart of an umbrella organisation toenjoy the benefit of being part of alarger operation while still maintainingtheir independence. In Yorkshire, forexample, a more co-ordinated effort topromote the region’s tourismopportunities during the Tour de Francewill obviously have more clout thaneach individual business going theirown way. One of the latest projects inthis regard is Marketing Sheffield’sAmbassador Conference Programme,an initiative which works with keyindividuals to influence theirprofessional bodies and recommendSheffield as a destination.The most obvious example of thecollaborative approach paying dividendshas to be Hull’s success as being namedthe UK’s City of Culture in 2017, wheremany local businesses made acontribution to the bid and will benefitfrom the increased interest on the cityover the next few years. The HullBondholders, who played a major rolein the success, now has 190 membercompanies and other organisations,including the University of Hull, who actas ambassadors to promote the regionto the wider world, thanks to eventssuch as the recent Festival of Science.On the other side of the Humber, theSelect Lincolnshire for Business initiativeby Lincolnshire County Council and theGreater Lincolnshire LEP have madesimilar strides.Organisations such as SheffieldChamber are also providing support forlocal businesses, offering solutionssuch as search engine optimisation. Ata time when more companies arelooking towards new opportunitiesoverseas – particularly relevant in ourregion given the huge interest inrenewable energy – a moreinternational approach is workingwonders, with companies now able tomove up the Google rankings not just inthe UK but also elsewhere in Europe.An obvious challenge for thosespecialising in marketing is how toappeal to a younger audience who havelittle brand loyalty and seem to flitbetween new apps and platforms. It’sno surprise, perhaps, to see the likes ofthe Young Enterprise CompanyProgramme highlight marketing as amajor factor when they are teachingentrepreneurship to a new audience.A recent training workshop, held inthe Sheffield Business School, gaveteams of students from across SouthYorkshire the help and advice to takethe next steps. Presentations andactivities provided the students withinsights in topics such as branding yourcompany, preparing pitches and writinga business report, and the emphasiswas on active participation.Throughout it all, though, thetraditional forms of marketing havecontinued to thrive. A well-designed,well-placed print advertisement cancreate more of a reaction than anynumber of mundane tweets andFacebook posts. An effective marketingmix, which prioritises original thoughtand effectively targeting who you wishto target, will provide huge benefits inthe long run.The Sheffield College are backing companieslike Norton Creative to take on apprentices withskills in design and marketing16-19:Layout 1 28/3/14 11:10 Page 3Business Link 19www.blmforum.netDESIGN & MARKETINGWhether you’re an international blue chip, SME or brand new start up, we can help. We treat all our clients just the same. After all, design and marketing should be fun right!We’ll never sell you a rocket ship when all you need is a bicycle. We’ll be as hands-on or hands-off as you wish, but you can be sure that we’ll be there when you need us. And you can dip into our box of tricks however you wish.This is where we should be telling you how we deliver tangible results, return on investment and all that jargon. Yes, we do all that. But what makes us really different? We keep it simple, just plain straightforward advice and awesome ideas. We’re owned and run by a bunch of designers. No sales people, no smart suits, no bull and absolutely no jargon.See how we help our clients at www.littleblackbox.uk.comA Little Black Box, full of big ideas…Give us a call on 0113 828 0000 or email hello@littleblackbox.uk.comSocial media support from StartersphereEvery business is different – a different audience, a different service and different competition. Whatever size or sector, Startersphere Internet Marketing hasa social media package to suit your business. They offer social media managementand SEO services at a discounted rate to Lincoln and Lincolnshire businesses.Startersphere know the complexities and demands of starting a business and gettingall the details right, so they have tailored a start-ups internet marketing package toget you the exposure you need. Let them help support your new venture by attractingyour target audience, leaving you to concentrate on running your business. Startersphere also offer a free website analysis to assess what areas to improve on. They also analyse your competitors as a benchmark and to research keywords and links to their site, which all help to devise a unique strategy.For more information, visitwww.startersphere.co.uk16-19:Layout 1 28/3/14 11:10 Page 4Next >