< Previous20 Business Link www.blmforum.net CORPORATE FINANCE Like VC, Angel Investment is another option gaining attention from businesses for finance that also offers knowledge. Angels are considered ‘smart capital’ due to the business experience, advice and networking opportunities they provide alongside equity finance. Angels invest their own money into businesses with the potential for high-growth, investing anything from £10,000 to £2m, alone or in a group of angels. According to the UK Business Angels Market report, Angels were found to invest mainly as part of a syndicate and frequently co- invest with other source of finance like VC funds and grants. The report also highlighted the top sectors business angels invest in, including healthcare, fintech, e-commerce, digital media, energy, environment and clean tech, as well as manufacturing and engineering technologies. Approximately £1.5bn is invested by Angels in the UK per year. In 2018 British Business Investments launched its £100m Regional Angels Program to reduce regional imbalances to access to early stage equity finance for small businesses looking to grow by increasing availability, supply and awareness of angel investors. With 57% of business angels based in London and the South East and 31% of business angels’ investments made in London and 12% in the South East, this is certainly welcome news for Yorkshire and Lincolnshire. The Regional Angels Program is committing funds for investment alongside business angels and other early stage equity investors to bring longer-term capital to businesses. Further boosting the presence of angel investors for the region, not-for-profit investment platform NorthInvest launched the Leeds Angel Hub in collaboration with the UK Business Angels Association in 2018 and in March of this year, The League of Angels, which provides a platform and community for angel investors, formed a Yorkshire branch. Of course equity finance is not always the appropriate option for business. If a business for example is looking to purchase new equipment, then asset finance would certainly be more suitable. This popular form of alternative funding, easier to obtain than a bank loan, allows businesses to quickly acquire expensive assets like equipment and machinery that are required to boost business growth, paying back the debt in instalments. The two main types of asset finance are hire purchase and leasing. The former allows a business to buy the asset over the payment instalments while using it, gaining ownership with the final payment, while the latter allows firms to lease an asset with an option to buy it at the end of a payment programme. Leeds-based Rewards Finance, last August, received an extra £10m investment from Foresight to help fulfil the demand for invoice finance, only 18-21.qxp_Layout 1 07/05/2019 13:48 Page 3www.blmforum.net Business Link 21 CORPORATE FINANCE eleven months after it received £40m, highlighting the increasing number of businesses in our region turning to asset-based funders. Grants are another key option used when businesses are looking to finance new assets and our region has plenty to offer. For instance Greater Lincolnshire’s Grants4Growth programme, which help firms buy equipment and machinery needed to expand or diversify has awarded over 150 grants to eligible businesses, helping them increase production and create local jobs. The fund offers grants of between £1,000 and £25,000. Meanwhile for businesses across York, North Yorkshire, East Riding and Leeds City Region, there are Product and Process Innovation (PAPI) grants of up to £20,000 for equipment © Shutterstock/Rawpixel.com Onwards and upwards Due to its ongoing growth and continued success, Knowles Warwick is moving into new, larger premises. Charlotte House, in the S2 area of Sheffield, close to Bramall Lane, will be the new home of the growing firm of chartered accountants and business advisors from next month. A grand opening event will be held this summer, after a comprehensive renovation of the site is complete. Not only will Charlotte House become the new Knowles Warwick headquarters, but rooms on the ground floor level of the building will also be available to rent as furnished or unfurnished, fully serviced offices. Offering contemporary office space with fantastic transport links and additional meeting space for hire to sole traders and small businesses, just a short distance from Sheffield city centre. More details will be provided in due course. For more information, visit www.knowleswarwick.com. enabling innovation in small businesses. Other grants in our region include Leeds City Region Enterprise Partnership grants of up to £250,000 for capital investment in fit-out of buildings, machinery and equipment and Let’s Grow North and East Yorkshire grants, which provide support for capital investment projects that will create sustainable jobs. Designed for firms expanding operations or setting up new establishments in the region, the programme offers grants of £10,000 to £1m. There are also national grants which our region’s businesses have found success with, such as Innovate UK grants. Lincoln-based Recap, an accounting software platform for cryptocurrency, was in February awarded a £135,136 grant through Innovate UK, which will allow the firm to enter the US market. Excellent advice to clients big and small Dexter & Sharpe was established in 1882, and today it continues to build on its enviable reputation for providing excellent advice and a first-class service to its business and personal clients alike. The accountancy company has many clients in the local community, and service businesses, small and large, across a variety of sectors including: agricultural, charities, construction, financial & consulting, manufacturing and more. As well as accountancy, audit, business development and tax skills, Dexter & Sharpe’s 12 Partners and Associates also have individual specialisms which enable the company to provide clients with a first-class tailored service. With its wealth of experience, Dexter & Sharpe prides itself on delivering an unparalleled service to all clients, whatever their size or sector. In addition to traditional auditing, accounting and tax service, the company also provides advice on how to improve and develop your business. For more information, visit www.dextersharpe.co.uk. Tristran Russell, Partner at Dexter & Sharpe 18-21.qxp_Layout 1 07/05/2019 13:48 Page 422 Business Link www.blmforum.net MADE IN LINCOLNSHIRE Previous entries have been both strong in number and quality with this year’s expected to be no different. They have showcased some well known and some less well-known gems from the county’s manufacturers, encompassing large, small and artisan. James Pinchbeck, Marketing Partner at Streets Chartered Accountants, commented: “This year’s awards see the launch of a new category for those engaged in Food and Drink Manufacturing. With a diverse and dynamic food sector, Greater Lincolnshire is well known not just for its major food processors but also for its many artisan food and drink producers. “Over the years we have seen a growing number of entrants from the sector and to recognise this, we have for 2019, created a dedicated category. We look forward to receiving entries from those engaged in Food & Drink Manufacturing and showcasing how businesses across the county are true leaders in Entries Now Open for Made in Lincolnshire 2019 Made in Lincolnshire seeks to celebrate the area’s excellence in manufacturing and its well-earned reputation for innovation within the sector. It also aims to showcase the diversity and creativity of those manufacturing in Lincolnshire. 22-23.qxp_Layout 1 08/05/2019 12:05 Page 1www.blmforum.net Business Link 23 MADE IN LINCOLNSHIRE producing innovative and high quality food and drink.” Garry Wilkinson, Relationship Manager at NatWest said: “NatWest is passionate about supporting the Manufacturing sector and the Made in Lincolnshire Awards are part of a number of manufacturing sector events that NatWest are supporting within the county, with strategic partners and sector advisers. The manufacturing sector is extremely important, not only to NatWest, but to the economy as a whole. The sector faces a number of challenges and opportunities and NatWest offer support and solutions via trained specialists such as myself.” Samantha Harrison, Head of the Business Lincolnshire Growth Hub added: “We are delighted to be involved with the awards because we know Lincolnshire is home to a wide range of world-class products, and that’s something we take great pride in. These awards are an important way of highlighting some of the most impressive work taking place right on our doorstep, showcasing the best of the best. This will help raise awareness of all the county has to offer, bringing new opportunities for all involved.” The award categories are: *Made in Lincolnshire Sold Locally *Made in Lincolnshire Sold Nationwide *Made in Lincolnshire Sold Overseas *Made in Lincolnshire for Many Generations *Made in Lincolnshire – Food & Drink Manufacturing (New for 2019) *Made in Lincolnshire World Class Individuals are invited to self nominate or nominate another business/product stating why they think it is special and worthy of recognition, for example it may be revolutionary, innovative or solve a problem. Previous winners have included Red Hill Farm, MTAG Composites Ltd, Jointine Products (Lincoln) Ltd, Chiselwood Limited, Sports & Leisure Brands Ltd, Micronclean Ltd, Bailey Trailers Ltd and Pretorian Technologies Ltd. The deadline for entries is Friday 21st June 2019. To submit your entry and to book your free place at this event please visit www.madeinlincolnshire.co The nominees and overall celebrants will be announced at the Made in Lincolnshire celebration event on Thursday 19th September 2019 at Dynex Semiconductor Ltd. 22-23.qxp_Layout 1 08/05/2019 12:05 Page 224 Business Link www.blmforum.net HEALTH & SAFETY © Shutterstock /dear2627 Keeping workers safe Our region often performs poorly on health and safety records, but this has less to do with negligence on our part and the scope of our business environment. That is little comfort to those affected, however, and will not stand up in court. 24-26.qxp_Layout 1 07/05/2019 13:49 Page 1www.blmforum.net Business Link 25 HEALTH & SAFETY Online Health and Safety Training Courses How would you like to save time and money on your next IOSH or NEBOSH training course? Health and safety training doesn't have to be expensive or boring. Corporate discounts available. Free tutor support included with every course! The Deep Business Centre, Tower Street, Hull HU1 4BG 01482 211989 • info@wiseglobaltraining.com • www.wiseglobaltraining.com In Yorkshire and Lincolnshire, our business heritage is firmly enshrined in both manufacturing and agriculture. These also happen to be hotspots for health and safety accidents. Only construction ranks above these in terms of dangerous jobs, and that’s not to say our region lacks in that regard either. Many companies see health and safety principles as, at best, an inconvenience, assuming that a common sense approach is best and certainly not requiring anything more formal than that. While it’s true to say managers and employees alike usually have the wit to deal with potential problems, there are clear advantages from having a formal policy in place. Most obviously, companies that aren’t able to point to clear health and safety regulations will usually find themselves unable to win contracts from major organisations. The importance of security and speed across the supply chain means retailers demand manufacturers and distributors reach the highest standards and must be able to illustrate their commitment to quality – and a formal maintain and conform to the standards demanded of them. Site managers, especially, should be trained on spotting such infractions and dealing with them, and must never be complicit in their use. From management, however, effective health and safety procedures, guidelines and plans must be put into place. Risk assessments are a necessity but should be given more priority than many companies are doing. Similarly, in industries such as construction, construction phase plans and contractor schemes should be set in place. Equipment must be regularly checked and updated as well, ensuring high visibility work wear is always at hand, along with PPE, and even ensuring that equipment is PAT tested and safe for use. Preparation and precaution are, of course, the premier ways to avoid incidents that might disrupt the workplace, but there needs to be some degree of training set aside for dealing with accidents that occur regardless. While it’s undeniable that a large majority 26 Á © Shutterstock /SanchaiRat health and safety policy, with full information on potential flashpoints and the measures in place to deal with them, is usually required. When dealing with larger clients, after all, any potential incidents might cause PR fallout for their company. As such, it is not uncommon for clients to ask what procedures, plans or counter measures a company has in place. Health and safety is not something that can be done in any single way. It’s a multi-part process that requires action from both employees and management. Awareness raised among employees will help to reduce the chance of risks being taken but can never truly eradicate it. Human nature dictates that the longer time goes by without any accidents, the more lackadaisical people will become with their precautions. While no one wants to actively risk their life, someone close to a signing off time might eschew a harness while climbing a scaffolding they have scaled a hundred times before without difficulty. As such, effective monitoring, enforcement and spot-checks may be required to ensure workers 24-26.qxp_Layout 1 07/05/2019 13:49 Page 226 Business Link www.blmforum.net HEALTH & SAFETY Tutor-led training courses direct to your business There are risks and dangers in any job or industry, so it’s important that businesses and individuals alike understand these threats and are trained in how to best avoid and, if required, deal with them. That is the core ethos behind Lincolnshire & Counties Training Solutions (LACTS), which offers several in-depth tutor-led safety training courses usually delivered at your business premises. Manual handling This course aims to help candidates understand the hazards and risks of manual handling activities; understand measures to reduce risks and demonstrate good posture and movement. Working at heights training This training course helps you comply with the Work at Height Regulations 2005 by providing employers and employees with the necessary information needed to successfully deal with working at height risks and control measures. Electricity safety at work The aim of the Electricity Safety at Work training course is to reduce the risk of shocks and keep workers safe. For more information, visit www.lacts.co.uk. of accidents reported are caused by negligence or a lack of formal procedure, there are also more than enough – some small, some large – which happen due to genuine accidents. These still cause the same disruption, however, both practically and legally – and will likely come with fines, claims or insurance pay outs. At the very least, the disruption can be problematic, and the down time – or loss – of an employee, even more so. Having someone who is first aid trained on site is not only a good idea, it’s a legal requirement. The Health and Safety (First Aid) Regulations 1981 dictate what is required, but it will always include at least one individual who is first aid trained within a company. Having an independent trainer come in to liaise and instruct employees can mean the minimum amount of fuss and disruption, but it’s worth keeping in mind that there must be at least one first aider on the premises at all times. As such, there will normally need to be multiple first aid trained employees to account for holidays, absences, multiple shifts, or the unfortunate case of the first aider being the one in need of help. First aid courses also do come with an expiry date, or more accurately, the need for refresher courses. A first aid certificate legally lasts for three years, but the HSE advises that first aiders undertake refresher courses annually. This is for the rather obvious reason that knowledge decays when not in use, and in an ideal scenario, the first aider won’t need to put the things they have learned into practise at all. Should something happen and they cannot remember what to do, however, then once more, the company itself will be liable. Luckily, Yorkshire and Lincolnshire are not without its specialised first aid trainers and companies who serve the industry. This is part and parcel of the point raised earlier on how our region has more dangerous industries, with the resultant increase in health and safety specialists catering to that demand. Many of these companies have worked in the industry for many years and are able to offer services that range from first aid to fire safety training, allowing companies to account for several potential flashpoints with a single supplier. As such, health and safety is not something that any company can afford to ignore, nor something that can be fixed and left. It is an ever-evolving issue, of which our region is a major player. While the family, social and quality of life impacts for those who are injured can be catastrophic, the law makes sure that companies suffer just as much, if not worse, from negligence which causes it. Businesses cannot afford to sit back on their laurels on the issue – even if they consider themselves nominally safe or accident-free. The legal requirements exist still. © Shutterstock /Rawpixel.com 24-26.qxp_Layout 1 07/05/2019 13:49 Page 3www.blmforum.net Business Link 27 RELOCATION AND INWARD INVESTMENT The health of any region lies in its local economy and, by extension, the wellbeing of its corporate culture. Recent events have put almost every sector through a proving ground, and here in our area, some businesses haven’t survived, reflecting the wider implications of a fluctuating economy, political uncertainty and, of course, the Brexit. Since the surprise result of the EU Referendum became apparent, business leaders, ministers and commentators alike have claimed that companies will pull operations out of the UK and avoid the island nation altogether. Until now, Britain has enjoyed being the gateway to the bloc; an ideal corporate home for companies to base their European operations. With the triggering of Article 50, hopes of a U-turn have been dashed, despite promises of a re-election and fairer trade deals from the opposition and other political parties. With companies pulling out and bypassing Britain in favour of Germany or France, say, we’ve got our work cut out for us. Though there have been causalities in our region, we’re far from a typical case. Industrial property bucked the national trend following the vote, and our local economy remained resilient throughout the ten months since the historic referendum. Part of this lies in the Northern Powerhouse. Spearheaded by former Chancellor George Osborne, it was a rallying cry for England’s upper half. The aim was to supercharge the local economy by investing in skills, transport and culture. Best described as 28 Á Intrepid investment © Shutterstock /Neil Mitchell Britain might have shed its ‘gateway to Europe’ status, but there’s still plenty in our region for foreign investors to get excited about. 27-29.qxp_Layout 1 07/05/2019 13:51 Page 128 Business Link www.blmforum.net RELOCATION AND INWARD INVESTMENT a snowball effect, the concept started slow before gaining momentum. With fresh funding in the latest budget, it’s safe to say that it’s become a tangible epicentre of north England’s booming business scene. The Northern Powerhouse is creating a stronger local economy, supporting jobs and facilitating new skills, but it is also attracting investors into the region. Inward investment describes investment made from outside of a particular geography. For our region, it could mean elsewhere in the country, though it mostly refers to overseas interest. German engineering giant Siemens has reaffirmed its commitment to Britain and, particularly our region, after confirming a massive investment in Lincoln. As the UK City of Culture, Hull has become one of the nation’s most visible cities on the world stage, attracting a surge of overseas interest. Massive © Shutterstock /ESB Professional 27-29.qxp_Layout 1 07/05/2019 13:51 Page 2www.blmforum.net Business Link 29 RELOCATION AND INWARD INVESTMENT investment from Siemens has led to a renaissance in the Humber city, helping to transform it from a once and former fishing hub and into an engineering powerhouse – a narrative similarly seen in Grimsby. Siemens, however, aren’t the only international company to heavily invest in the region. Last year saw Hull crowned the City of Culture, which went a long way to showing the country what is great about Hull. With effort put in from local businesses, councils and the general public, it’s obvious to see that Hull represented itself well, but harder – at times – to judge the economic benefit of such initiatives. That’s not to say it was of no use, because it certainly was, but the benefit is to the reputation of the city and its image, which is difficult to quantify. The Brexit, however, has made the UK a less attractive place to invest and has already curtailed potential investment. Hull overwhelmingly voted in favour of leaving the EU, with over 75,000 locals voting yes. As we near the halfway mark in the City’s year in the limelight, one wonders whether Hull will regret its decision to divorce to EU. Investment might not be rife, but as we inch closer to independence, fresh investment could be stymied, while other companies pull out their operations altogether. Hull isn’t alone in this, with parts of Lincolnshire and Yorkshire voting the same way. There’s more to our region than its residents’ decision on a yes/no vote. Whatever your own political views on the EU, it’s safe to say that our region still has plenty to offer investors. Though the next few years will be challenging, we here at Business Link are quietly confident that our area will continue to be the apple of foreign investor’s eyes. © Shutterstock /Jez Campbell DDS Roofing We are a local and independent roofing firm with over thirty years’ experience. We have been serving the local community for over ten years. All our team are friendly and professional and take pride in the high standard of workmanship that we provide. For more information, call us today! We cater for domestic and commercial clients in need of quality roofing for their homes or businesses. Our comprehensive range of services includes: • Roofing service • Reroofing • Slating • Tiling • Fascias and Soffits • General property maintenance 35 College Street, Grimsby, North East Lincolnshire DN34 4TN Telephone: 01472 267709 Mobile: 07980 962009 Email: derrick.saxby@homecall.co.uk 27-29.qxp_Layout 1 07/05/2019 13:51 Page 3Next >