Bottom Line Front Cover - Bottom Line by dfsdf224s

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									‘WE ARE IN BUSINESS TO
MANUFACTURE FUN’
DAVID CAM ON LIFE AT THE PLEASURE BEACH
IN THE BL INTERVIEW

ARE THE AUSTERITY MEASURES GOOD OR     www.mooreandsmalley.co.uk


BAD NEWS? EMERGING SECTORS WHAT NEXT
FOR PRESTON? HR ADVICE JIM HANCOCK
WRITES TAX AND VAT ADVICE
                                       ISSUED IN AUTUMN 2010
2 welcome




bottomline
Autumn 2010                             Welcome
                                        W
                                                     elcome to our latest edition of            If the country is to emerge from the
Cover Story: David Cam, Blackpool
                                                     Bottom Line, which aims to            current uncertainty, powerful growth
Pleasure Beach.
                                                     deliver a spectrum of insightful      sectors are needed to drive the resurgence,
                                        and informative views on the commercial            and on pages 15 and 16 three of our
2    Welcome                            landscape that affects us all in various ways.     specialist advisors – Ginni Cooper, Rachel
                                             It is a landscape that is undergoing          Marsdin and Andrew Norman – identify
3    News Award double                  radical and far-reaching change since our          the industries they believe will be key to a
     The big issue Austerity measures   previous, pre-election edition. With a raft of     full and sustainable recovery.
     good or bad?                       austerity measures announced by the                     Elsewhere in Bottom Line, you will find
                                        coalition government, the public sector, and       a lively debate on the future of Preston on
4    The tax man NIC holiday
                                        its many private sector contractors, is            pages 10 and 11, as well as expert opinion
6    What’s your problem?               bracing itself for the impact.                     on a range of business improving measures,
     Staff morale                            Of course there is a strong argument          inspiring success stories from around our
                                        that swingeing and immediate economies             region, and news from our business. I do
7    The dealmaker’s view               are vital if the budget deficit is to be tackled   hope you enjoy the read.
     Slowly but surely                  and market confidence restored in ‘UK plc’.
                                        Just as importantly, opportunities will
8    The bl interview David Cam         emerge from the post-election environment
                                        and it will be down to sharp-eyed
9    One to watch VVB
                                        entrepreneurs and their advisors to identify
10   The Moore and Smalley debate       and develop these.
     Regenerating Preston                    Having said that, we can’t escape the
                                        conclusion that the government’s fiscal
14   Recovery special UK growth         medicine will produce some painful side-
                                        effects. In our part of the world we are
16   VAT 20 per cent VAT health check
                                        already seeing a list of projects affected by
17   Food for thought                   the Northwest Regional Development
                                        Agency’s (NWDA’s) drastic funding cuts.
20   Smalley talk Firm news             Among them is the Preston Vision
                                        initiative, which aims to transform Preston
                                        into a competitive European city, while a
                                        significant question mark hangs over the
                                        future of Business Link.
                                             Substantial changes to tax and VAT
                                        regimes will certainly have profound
                                        implications for most businesses. As ever,
                                        timing is crucial where tax changes are
                                        concerned, and the importance of seeking
                                        professional advice on your tax affairs
                                        cannot be overstated.
                                             On page four of this issue, our own tax
                                        expert David Bennett writes about the
                                        government’s three-year national insurance         David Ingram
                                        contribution (NIC) holiday.                        Managing partner




                                                                 ‘opportunities will emerge from the
                                                                         post-election environment’
                                                                                                                                   news 3




Moore and Smalley
award double
        F
                                                     ollowing on from spring’s treble award    won a £2,000 donation to the charity.
                                                     win at the Lancashire Dealmakers’             Meanwhile, two of Moore and Smalley’s
                                                     Awards, Moore and Smalley has             rising stars have proved themselves to be
                                               scooped two further high profile business       among the best in the business after winning
                                               gongs.                                          the final of a national skills competition.
                                                   Anne Metcalf, a corporate and charity           Ben Drury and Katie Walch, trainee
                                               manager at Moore and Smalley – and wife of      accountants based at the firm’s Blackpool
                                               former firm partner Peter Metcalf – has won     office, represented Blackpool and the Fylde
                                               a prestigious Everybody Counts Award from       College in the national final of the AAT
                                               the Institute of Chartered Accountants in       (Association of Accounting Technicians)
                                               England and Wales (ICAEW).                      Accounting WorldSkills UK Competition,
                                                   The award was in recognition of her         in London.
                                               work as a volunteer for Gift ‘92, a                 Ben, 23, from Blackpool, and Katie, 21,
                                               Preston-based charity which collects            from Thornton – both of whom study at the
                                               unwanted furniture and donates it to            college – triumphed over eleven other
                                               disadvantaged people.                           finalists from the UK’s leading colleges and
                                                   Anne, a trustee and treasurer, was          businesses by performing a number of
                                               commended for helping to raise more than        financial accounting, ledger and report tasks
                                               £25,000 over the past 12 months. She also       with the greatest accuracy and teamwork.
Ben Drury and Katie Walch



                                                                                                                            the big issue




Are the austerity measures good
or bad news for the economy?
                 Michael                           Richard                                                                 Ben Briggs,
                 Gibson,                           Bamford,                            Joe Bowe,                           Editor,
                 Managing                          Executive                           Finance                             Lancashire
                 Director, Fat                     Chairman, EV                        Manager,                            Business
                 Media Ltd                         Group                               Lakes Leisure                       View
The cuts will be bad for the        Overall, in the long term, they    Overall they are good if we         The real issue with the austerity
economy. The reductions in          are good news. We must get back    reduce inefficiency. We have        measures is how harsh they end
growth forecasts prove that, and    to a pre-2008 benign economy,      lived beyond our means for too      up being. The danger
many private sector businesses      when we had steady growth and      long, but there will be immense     is that if they are too harsh the
that rely wholly on the public      controlled inflation. It is        pain for individuals and some       public sector will no longer be
sector are going to the wall with   imperative that investors view     businesses like Lakes Leisure       able to stimulate the economy
many others badly hit. The          the UK as a stable growth          which are reliant on funding.       and the fragile private sector
worst will be revealed in October   economy. However, if over          There is however a danger that      may be unable to make up the
in the Public Spending Review       borrowed in uncertain times,       consumer confidence will be         shortfall. While many agree
and will be felt in 2011. My fear   it is imperative to reduce debt.   depressed for a long time.          that cuts are needed, the
is this is too much, too quick      For the immediate future, this     Measures like the increase in       government needs to strike
and poorly planned, and the         means belt tightening for most,    VAT will hurt a lot. The recovery   a careful balancing act in
impact will be far worse.           real difficulties for some, but    will be slow. Business managers     order to maintain fledgling
                                    also opportunities.                will need to be innovative.         economic hope.
4 the tax man



                                                                                                             David Bennett
                                                                                                                 Tax partner




NIC holiday brings welcome
                                                                                                               01772 821021
                                                                                         david.bennett@mooreandsmalley.co.uk




relief for businesses
By David Bennett, tax partner



T
       he government’s three-year national
       insurance contribution (NIC) holiday                  ‘There are also restrictions on businesses,
       is welcome news for new business
start-ups across the North West and
                                                                      such as agriculture and fisheries’
East Midlands.
    The scheme means that new businesses
engaging in fresh economic activity will
enjoy a NIC holiday for the first ten
employees they recruit in the first twelve
months of business. An NIC exemption will
apply to the salaries paid to those employees
in the first twelve months of their
employment.
    For example, if a new business starts in
October 2010 and recruits five employees in
October and five more in December, the NIC
holiday will apply to all the employees.
However, if one employee leaves in January
and is immediately replaced by employee
number eleven, the NIC will not apply to the
replacement, as the limit of ten employees
will have already been exceeded.
    The scheme is open to businesses that
began trading on or after June 22, 2010, and
applies to salaries paid after September 6. It
applies to businesses trading in the North
West and East Midlands, as well as other UK
regions outside London, the South East and
East Anglia.
    The government has imposed a cap,
which means the maximum amount of
NIC savings a company can make is £5,000
per employee. It should be emphasised that
the scheme relates to employers’ class 1 NIC
and not employees’ NIC or NIC on benefits
in kind.
    HM Revenue and Customs (HMRC) has            companies and personal service companies,           As ever, it is important to ensure that all
made it clear that the holiday scheme applies    should qualify.                                 the documentation is in order because
only to new economic activity. Hence, it will        The employment of domestic employees,       HMRC will take an exacting approach to
not apply to the purchase of a business from     such as gardeners, nannies, cooks and carers,   ensure companies have complied with the
a third party or the incorporation of an         does not count as a business, and therefore     rules. On a practical level this will involve
existing business that is currently carried on   does not qualify for the NIC holiday.           inspectors looking at documentary evidence
as a partnership or sole trader.                     In order to obtain the benefit of the NIC   during PAYE visits.
    There are also restrictions on businesses,   holiday, a claim must be made to HMRC.              Nonetheless, the NIC holiday scheme –
such as agriculture and fisheries, which have    Once HMRC has agreed the claim,                 which operates from 2010 to 2013 –
received state aid. Such businesses may have     employers will calculate the PAYE and           represents much-needed relief for the broad
reduced entitlements, depending on the           NIC as normal, but will deduct the NIC          range of businesses that do qualify.
state aid already received. Most other           holiday from the monthly or quarterly
businesses, including property investment        sum paid to HMRC.
6 what’s your problem?



                                                                                                                    Tina Clayton
                                                                                       HR consultant and employer services manager




Top tips for improving staff
                                                                                                                     01772 821021
                                                                                              tina.clayton@mooreandsmalley.co.uk




morale during tough times
M
            any businesses have gone through,           (generally your most talented employees)      4. Be flexible and open to ideas: Ask
            or are still experiencing, a period of      and stress. Be honest and be honest              staff what motivates them. Be specific, an
            job cuts and those more fortunate           frequently!                                      open-ended question such as “what
are perhaps at best looking at pay increases                                                             motivates you?” may be met with a blank
                                                     2. Review benefits: Consider if you are
of less than one per cent in the short term.                                                             stare. Instead ask employees to rate
                                                        providing any benefits in the most tax
In these difficult economic conditions,                                                                  different aspects of their job, such as
                                                        efficient manner for both the business
businesses will be only too aware that the                                                               teamwork, variety and autonomy, and
                                                        and the employee. The implementation of
motivation of their workforce can suffer. If                                                             concentrate your efforts on what they rate
                                                        a salary sacrifice scheme can provide
an organisation is to survive in these times it                                                          highly – listen to what they say and
                                                        significant savings, for example, with
is vital to engage people and bolster morale.                                                            provide feedback. Remember money is
                                                        pension contributions and childcare
Without the commitment of staff, a business                                                              only one piece of the jigsaw.
                                                        vouchers. Other options provide
stands little chance of recovering quickly.
                                                        increased flexibility and work/life balance   5. Empower staff: Sharing issues with
     So what measures may help?
                                                        opportunities, such as the option to buy         your staff and encouraging them to
1. Communication: Keep your staff                       or sell holidays.                                provide solutions can be motivating and
   up-to-date with how the business is                                                                   encourages ownership over any changes
                                                     3. Review remuneration: In the absence
   performing; help them to understand the                                                               that may be required.
                                                        of any pay increase, consider a
   pressures facing the business and the part
                                                        discretionary bonus scheme based on           6. Celebrate success and effort: When
   they can play in supporting you through
                                                        financial performance. This gives your           times are difficult it is very easy to focus
   difficult times. Failing to communicate
                                                        staff the opportunity to earn additional         on things that are not working and not
   effectively with your staff can promote
                                                        pay while managing your risk efficiently –       see the good work being done by staff.
   rumours and unnecessary insecurities
                                                        only keep it simple.                             Recognising good work, and giving praise
   which in turn creates staff turnover
                                                                                                         where due, costs the business nothing.




                                       ‘Sharing issues with your staff and encouraging them to
                                                           provide solutions can be motivating’
                                                                                                                    the dealmaker’s view 7




Slowly but surely
                                                                                                                Rob Kenmare
                                                                                                       Corporate finance partner
                                                                                                                   01772 821021
                                                                                            rob.kenmare@mooreandsmalley.co.uk




By Rob Kenmare, corporate finance partner



C
        autiously optimistic. That’s a phrase I
        have heard a lot over the last few              ‘We are actually experiencing some degree of
        weeks and from a number of sources:
business owners; bankers and other
                                                          competition from the banks at the moment’
advisors. And it would appear that the
financial and economic data support this
with better than anticipated Q2 growth
figures, improving retail data in July and
August, and a recent slew of strong
corporate results. We, in Moore and
Smalley’s corporate finance team, have also
seen a number of positive signs over the last
quarter – deal activity is picking up and we
have an increasing number of clients seeking
to raise funds for new projects; the
confidence and momentum
in deals is increasing slowly but surely;
and the number of new enquiries is
increasing all the time.
     Having said that, we still face some
significant issues before we can remove the
‘cautious’ tag. The two most current are the
continuing challenge of funding and the
impending government spending review.
     The funding picture does seem to have
improved lately. We have had some notable
successes for our clients and are actually
experiencing some degree of competition
from the banks at the moment. The proviso
to this is that it is only occurring where the
companies in question meet the banks’
criteria for lending, and, to my mind, it is
this issue that is fuelling the debate between
the banks, business and government as to
whether the perceived lack of bank funding
is a supply or demand issue.
     Our current experience is that there is no
shortage of demand from companies,
investors and developers for debt funding
and there are banks who want to provide
debt. The issue is the difference between
                                                  of the borrower as a result of improved          differences set out at the general election
the borrowing requirement and the banks’
                                                  earnings or profits.                             than on any facts and knowledge in the
current lending criteria. It is possible that
                                                      The other issue everyone has an opinion      public domain. The full substance of the
there can be both sufficient demand and
                                                  on is the impact of the upcoming ‘austerity’     spending review will have to be digested
supply but severely restricted borrowing
                                                  measures on the ongoing recovery. Nobody         when it is released. What nobody knows for
or lending. The situation can only be
                                                  seems to disagree on the need to tackle the      certain is how much ‘fat’ has been built up in
resolved in two ways, either a relaxing of
                                                  public deficit, but there are differing views    the public sector as a result of over a decade
the banks’ lending criteria, which is unlikely
                                                  on the timing and nature of the deficit          of growth. This will be the key determinant
to happen in a hurry, given the overhang
                                                  reduction measures. At the moment the            of the impact of any proposed cuts on the
from property lending at the height of the
                                                  majority of the debate is being fuelled by the   economy as a whole.
boom, or an increase in the cash or equity
                                                  political parties based more on policy
8 the bl interview




Labour of love at the
fun factory
After more than a quarter of a century as company secretary at Blackpool’s
world-famous Pleasure Beach, David Cam believes life is so good that he
still has to pinch himself.




“I
         ’m a very lucky man. We are in         enjoyed every minute, but I resumed my           attraction – a process that culminated in
         business to manufacture fun and it’s   studies with every intention of becoming a       1994 when The Big One became the world’s
         intensely gratifying to look through   barrister in Manchester, specialising in         fastest, tallest rollercoaster.”
my office window across the Pleasure Beach      planning law. Then Geoffrey contacted me             David continues to contribute
and see our end-product: people having the      again. He needed a legally qualified assistant   passionately to the Pleasure Beach’s
time of their lives,” said David.               company secretary and offered me the job.        successful business model of mixing high-
    His wide-ranging remit means he is          He suggested my first assignment would be        tech attractions, such as the digitally
involved in all aspects of managing the         visiting the USA to learn the trade the          operated Infusion rollercoaster, with
Pleasure Beach, from health and safety,         American way, and I didn’t think twice about     traditional rides including Hiram Maxim’s
and legal issues to property and personnel –    accepting the offer.”                            ‘Original Captive Flying Machines’, built in
not to mention responsibilities for                 A few days after his last exam David         1904 and still as popular as ever.
external relations.                             found himself working for a season at an             David and the team are currently
    David attended St Joseph’s College in       entertainments park in Denver, Colorado,         working on the introduction of the £10m
Blackpool and began working at the Pleasure     before embarking on a three month, 20,000-       Nickelodeonland family theme park, which
Beach aged 16, selling hot dogs and burgers.    mile, 23-state tour of US amusement parks.       will open in April and is expected to boost
He also worked as a conductor on Blackpool          “Geoffrey Thompson’s maxim was               visitor numbers by 30 per cent.
trams before securing his degree in law.        ‘constant dynamism and change’ and when I            Looking ahead, David is unreservedly
    “After I graduated I needed a job for 12    returned from the USA I joined a team that       optimistic. “We have quality infrastructure, a
months before I was due to start my Bar         put this into practice,” said David. “There      well-established brand, fabulous shows and
Finals and I became personal assistant to       were lots of ideas but the problem was           Thompson family shareholders who
Geoffrey Thompson, then the managing            finding the time to implement them.              continue to invest heavily in keeping
director of the Pleasure Beach,” said David.    Between 1980 and 1995 we went from being         everything exciting and fresh. All this makes
    “It was a fantastic experience and I        a regional attraction to a world-class           for a very bright future.”
                                                                                                                                        one to watch 9




VVB targets growth as
energy sector heats up
In the latest of our one to watch series, Bottom Line profiles a leading company
with analysis from award-winning Moore and Smalley partner and SME specialist,
Damian Walmsley.



W
            hen mechanical and electrical
            engineering specialist Steve Hinde
            decided to go self-employed in
1991, it was the start of a journey that would
lead to a £30million turnover business with
400 employees.
    In those early days, working as a one-
man operation, Steve was hired to manage
the mechanical and electrical engineering
works on some of the UK’s most high-profile
construction projects.
    These included work to extend the
Faslane naval base in Scotland to
accommodate the Trident nuclear
submarine system, work on the Sellafield
nuclear power station in Cumbria, and
the extension of the Jubilee Line on the
London Underground.
                                                 Steve Hinde of VVB. The company is currently working on the £370m Hindhead Tunnel project in Surrey, due
    Then in the early 90s when there was a
                                                 for completion in 2011 (pictured above)
trend for large companies to outsource their
mechanical and electrical work, rather                Steve said: “Our expertise at the heavy           a decade spent working at Heysham nuclear
than retaining an in-house division, Steve       end of civil engineering has set us apart from         power station in the 1980s.
began tendering for these contracts              some of our rivals. We have worked hard                     Steve added: “It’s clear there’s going to
himself, employing his own people to             to develop specialisms, such as the work               be many construction projects in the energy
undertake the work.                              we have done on tunnelling and other                   sector over the next few years, whether it’s
    Steve’s business, VVB, has grown             heavy transportation projects. We are                  EfW, nuclear, or other forms of renewable
significantly over the last two decades,         continually looking to develop our expertise           energy. We are already enhancing our
and now works for some of the world’s            and there are new sectors opening up that              knowledge and expertise in this area and see
biggest civil engineering groups on projects     we are targeting for growth, while looking             it as a major growth sector alongside our
in the rail, road, construction and              to further opportunities in the rail and               existing work.”
infrastructure sectors.                          airport sectors.”                                           Damian Walmsley added: “Steve has
    The company developed a particular                Steve sees the energy sector as the major         worked tremendously hard over the last
specialism for mechanical and electrical         growth area for Essex-based VVB as the UK              20 years to build the business up from
installation work on tunnel projects, such as    looks for solutions to its double headache of          scratch and a lot of that success has been
lighting, power, ventilation and control         what to do with landfill waste and how it will         down to the way the company has developed
systems for the East India Dock Road, M25        meet future energy requirements.                       a niche in the heavy transport and
Holmesdale and Bell Common Tunnels in                 VVB is already doing work on a new                construction sectors.
London, and is making substantial progress       Energy from Waste (EfW) plant in                            “It’s great to see that VVB continues to
on the total refurbishment of the Blackwall      Belvedere, Kent, which will be the biggest of          thrive and pursue new opportunities, and I
Tunnel Northbound Bore.                          its kind in the country, taking two-thirds of          predict another successful period of growth
    VVB’s specialist skills have earned it       London’s rubbish.                                      for the company.”
respect from customers and international              The company is also looking for new               www.vvb-eng.com
engineering group Costain recently               opportunities in the nuclear sector, an
awarded the company a supply chain               industry that Steve, originally from
excellence award.                                Morecambe, is familiar with after more than
Where next?
                                                                                                         the moore and smalley debate 11




News that public sector funding cuts at the Northwest
Regional Development Agency (NWDA) would
impact on major investment projects planned for
Preston was another setback for the city’s
regeneration aspirations.




A
       s the region braces for further cuts as    Frank McKenna: Preston has to assert                                         Nick Lancaster:
       a result of the Comprehensive              itself as the economic driver for the whole of                               One of Preston’s
       Spending Review, Bottom Line spoke         the Red Rose County. The work undertaken                                     strengths is
to business and regeneration leaders, and         by Preston Vision will help enormously in                                    undoubtedly the
some proud Prestonians, to ask where the          this regard, as will the efforts the city council                            number of skilled
city goes from here.                              is making to genuinely engage with the                                       and motivated
                                                  private sector. Importantly, there needs to                                  graduates that have
The panel comprised: Eliot Ward, chief            be an acceptance from neighbouring                                           an affinity to Preston
executive, Preston Vision; David Taylor,          boroughs that Preston is the most relevant                                   and want to live,
executive chairman, David Taylor                  focal point for the economic regeneration of                                 work and start
Partnerships; Dr Nick Lancaster, head of          the entire sub region.                                                       businesses in the
UCLan Corporate; Frank McKenna,                                                                       region. Opportunities need to be provided
chairman, Downtown Preston in Business;                                    David Taylor:              for our graduates to flourish.
David Wade Smith, chairman,                                                Despite the cutbacks
Livesmart Ltd; Tracey Johnson, corporate                                   in public funding          Mick Goode: In terms of the physical
services director, Moore and Smalley;                                      Preston still enjoys       regeneration, there are still a number of
Mick Goode, director, Croft Goode                                          many benefits in           smaller, shorter-term opportunities for
Architects; David Coates, business editor,                                 terms of its location      development that collectively can still
Lancashire Evening Post.                                                   and infrastructure         represent meaningful economic regeneration
                                                                           which should give its      potential. The city also has to have a long-
Here are the panel’s opinions.                                             local industries a         term strategic approach addressing a greater
                                                                           competitive edge.          number of issues than those within the
The funding cuts are clearly a                                             The public and             Tithebarn area. Advancing proposals for
blow for Preston and for                          private sectors will need to work much more         more deliverable opportunities elsewhere in
Lancashire thanks to the city’s                   closely together to maximise the combined           the city will serve as a catalyst for economic
important role in the regional                    impact of the partnership approach.                 growth and confidence.
economy. How will Preston                         Tracey Johnson: Growing the private
bounce back?                                                                                          What should the city’s political
                                                  sector will be a key priority over the next
                                                                                                      and private sector leaders be
                                                  decade. In the last 10 years, Preston has
                          Eliot Ward: These
                                                  been among the top performing cities in             doing in the short term and long
                          announcements have
                                                  terms of its percentage increase in private         term to secure the future of such
                          sharpened the public
                                                  sector jobs. This is extremely encouraging          large-scale projects?
                          sector’s focus on
                                                  and is a good platform to build upon. Its
                          how it can best                                                             David Wade Smith: Now more than
                                                  location close to the motorway network, a
                          attract the major                                                           ever there is a need for the public and
                                                  fast rail link to London, and a thriving
                          private investment                                                          private sector to open a dialogue through a
                                                  university also give it an important
                          necessary to develop                                                        series of meetings and forums. Speaking
                                                  competitive advantage and this needs to be
                          Preston’s physical                                                          from my experience of Liverpool’s
                                                  marketed effectively.
                          and economic                                                                renaissance, the public sector has to
                          offering. In addition                                                       convince business leaders of what can
to ensuring planning and development                                                                  be achieved if they work together. The
frameworks are in place, consideration is                                                             message has got be talk, talk, talk.
needed on how to attract private investment
earlier to take the place of pump-priming
public money which is now scarce. This is
                                                           ‘Preston has to assert itself as the economic
                                                          driver for the whole of the Red Rose County’
likely to be reflected in higher investor
returns being required to reflect their greater
up front risk.
                                                                                           Frank McKenna
12 the moore and smalley debate




Eliot Ward: There needs to be a greater
level of cooperation and joint working than              ‘The potential is boundless. In 20 years time,
ever before. Promotion of the opportunities
                                                           we should have one of Britain’s biggest and
                                                        best universities producing students that want
in the city is also important. If done

                                                                 to stay and work in our city’s thriving
effectively, it will attract more private sector
interest. Preston Vision is currently leading
on a visioning exercise which is also                                    professional services industry’
identifying a set of strategic goals for the city
which all sectors of the community will                                                     David Coates
share and own. Our assets need to be
harnessed, including the creativity of the
                                                    front relationship with its businesses.           Mick Goode: Bids for public funds will be
local population.
                                                    Businesses have never expected a free ride,       better placed if they demonstrate both added
                        Frank McKenna:              but with a little bit of give and take on both    AND best value. Both the city and county
                        There is a greater          sides, a lot can be achieved.                     councils have portfolios of land that could be
                        willingness than ever                                                         introduced into potential development
                        from both the public        Where will funding come                           schemes at ‘nil value’ thus removing
                        and private sectors         from now? For instance,                           expensive land acquisition costs from
                        to work in                  should the private sector be                      scheme costings. Preston City Council and
                                                                                                      Lancashire County Council could factor such
                        partnership, and            stepping up to the plate or
                        only by doing this                                                            land portfolio opportunities into their own
                                                    should we be looking towards                      plans for capital spending on new projects,
                        can we demonstrate
                        to potential inward
                                                    Europe for funding?                               as well as working in partnership with
                        investors that we                                                             private businesses in an attempt to attract
                                                                              Tracey Johnson:
are serious about developing a new                                                                    available funds.
                                                                              European funding
economy in Preston and Lancashire.                                            will become even                                  David Wade
We need to modernise our governance                                           more important as                                 Smith: I believe
structures to ensure more inclusivity of                                      UK sources of public                              we’ve got to replace
the business community.                                                       funding reduce. The                               the word ‘grant’ with
                                                                              challenge will be to                              the word
David Taylor: The city should create its
                                                                              ensure available                                  ‘investment’. The
own ‘asset-backed’ development company.
                                                                              funding from Europe                               question has to be
There is still a legacy of physical assets from
                                                                              is effectively                                    ‘how can we get
the New Town Development Corporation
                                                                              administered and for                              people to invest in
and we should use these to gear up private
                                                    applicants to raise the match funding                                       this city?’, not ‘what
investment.
                                                    required. This is likely to mean an increased                               money can we get
                         Mick Goode:                reliance on the private sector, banks and         from Europe?’. That’s why we have to project
                         Places that can            other investors to provide the shortfall.         Preston as a great place to do business, as a
                         respond quickly to                                                           place that’s fit for purpose, and as a place
                                                    Frank McKenna: The private sector will
                         development and                                                              willing and ready to invest whatever funding
                                                    step up to the plate where they see a realistic
                         funding                                                                      is available.
                                                    prospect of progress and, of course, a
                         opportunities are
                                                    financial return. I sense a renewed appetite
                         those that are
                                                    from our civic and business leaders to
                                                                                                      Are there any projects in other
                         successful and our
                                                    ensure that Preston is the ‘where’ for those      cities in the region from which
                         leaders have to be
                                                    prospective investors.                            Preston can learn some lessons?
                         ready to make things
                         happen. There are
                                                                                                      If so, what are they?
                                                                              David Coates:
still land assembly and consultation                                          There will obviously    Nick Lancaster: Salford’s Media City is
exercises required to make sure the larger                                    be strong               becoming a great example of how to attract
scale projects can be delivered. By using this                                competition for         inward investment and engage with the
period productively to interrogate and revisit                                whatever public         education sector and local labour market to
the current proposals, our political and                                      funding is still out    create a well-trained workforce. Preston can
private sector leaders can make sure Preston                                  there and private       draw real inspiration from this.
is ready to move as soon as those newer                                       sector money will
opportunities arise.                                                          only be available if    David Taylor: We must look at Manchester
                                                                              there is a worthy       as our model. Strong political leadership,
David Coates: We must get development                                                                 combined with clear strategic objectives, has
                                                                              return to be made.
moving in the city centre, whether that is                                                            transformed Manchester over the last twenty
                                                    There’s a real need to work together and
through making planning more flexible,                                                                years. Manchester must be the model.
                                                    prioritise projects that will give the greatest
making the city more attractive to investors                                                          Preston has immense potential and we
                                                    economic return.
through rates, or generally having a more up
                                                                                                         the moore and smalley debate 13




should aspire to be a ‘premier league’ city
in every sense and that includes the                                     ‘Places that can respond quickly to
football club.
                                                                    development and funding opportunities
Eliot Ward: There have been quality                                            are those that are successful’
                                                                                                  Mick Goode
public realm projects at the Pier Head and
Lime Street Gateway in Liverpool, as well
as the concentration of new Grade ‘A’
office accommodation in St Paul’s Square.
Similar office schemes at Spinningfields           assets, including Winckley Square, the docks     platform for Preston to develop its city
and Piccadilly in Manchester have been             and the Flag Market. With a bit of luck,         status and encourage investment – it’s an
enormously successful. The private sector          Preston North End will be in the Premier         opportunity that should not be missed.
has played a major part in the delivery            League and I fully expect that by 2020,
of these projects, not just in building            Preston will be accepted by everyone as the      David Coates: The potential is boundless.
them but also in planning and promoting            capital of Lancashire.                           In 20 years time, we should have one of
them through local public/private                                                                   Britain’s biggest and best universities
partnership boards.                                Eliot Ward: Preston has the potential to be      producing students that want to stay and
                                                   recognised as a great European city, albeit      work in our city’s thriving professional
Frank McKenna: Manchester and                      on a smaller scale. The city will have           services industry; that want to live and play
Liverpool have demonstrated that you can           strengthened its current role as the major       in a strong retail and leisure offer; and join
transform image and perception in a very           economic driver for Lancashire and will be       industries such as nuclear, aerospace and
short period of time. To achieve this they         an automatic location choice for expanding       renewable energies that will spring up
took risks, they were innovative, they             domestic and international businesses, a         around us.
accepted the changes that had taken place in       must visit tourist destination, and a great
the economy, and provided strong, if not           place in which to live, study and work.          Mick Goode: I agree that we shouldn’t just
always popular, leadership at a civic and          Graduate retention in the city will have         try to duplicate what our neighbours have
business level. We can do this in Preston,         improved dramatically as a result.               done. By concentrating on what is unique
but we must replace negativity and                                                                  about Preston we can create a sustainable
pessimism with a ‘can do’ attitude.                Nick Lancaster: Preston has a long               and special place within the North West
                                                   heritage of traditional industries and it        business and administrative community.
David Wade Smith: It’s great that cities           would be a mistake to simply disregard these     We have to promote those services and
on our own doorstep have been successful,          and focus solely on newer industries, such as    facilities that are needed for longevity and
but we have to look further afield too.            digital media. With the help of university       to produce a timeless city of the 21st century
Bordeaux is an excellent example for Preston       and creative zones we can attract these new      and beyond.
to follow. It’s a city of a similar size and has   businesses, while supporting and developing
completely transformed itself over the last        established ones through the provision of

                                                                                                            ‘Preston has the
20 years through various infrastructure            highly skilled graduates, cutting-edge
projects, including a new tram system,             thinking and research.
similar to what Preston has proposed.                                                                         potential to be
                                                                                                        recognised as a great
Germany also has numerous examples of              David Wade Smith: To realise its
                                                   potential, Preston has to look at its natural,
                                                                                                              European city’
post-industrial towns that have had a
complete turnaround in fortunes.                   man-made, and people resources. Taking

                                                                                                                   Eliot Ward
                                                   natural resources, Preston has to focus on its
                                                   visitor economy. It has countryside, coast
Preston clearly has an important
                                                   and city within a short radius and this has to
place in Lancashire’s future.
                                                   be a key selling point. Looking at man-made
Where do you see this in 10 or                     resources, it has excellent motorway links
20 year’s time? With the correct                   and access to ports and airports. Thirdly, it
funding, the right leadership                      has great people who are renowned for being
and a good attitude, what is the                   some of the warmest and friendliest people
potential for the city?                            anywhere. If Preston can leverage all of these
                                                   together it can be a great small city.
Frank McKenna: Preston can become the
most admired European ‘micro’ city in the          Tracey Johnson: There’s no reason why
UK. We don’t want to simply replicate what         the city can’t place itself on a competitive
has happened in other cities. Indeed we need       footing with other UK and European cities,
to retain the uniqueness that makes Preston        with thriving commercial and retail sectors,
such a great place to live and work. I want to     a university recognised for its academic
see ‘play’ added to that list and I think we       success and research programmes, a skilled
can significantly enhance our night time           and flexible workforce, and reputation for its
economy over the next five years. I expect us      contribution to the cultural life of the North
to finally take advantage of our existing          West. The 2012 Preston Guild can be a real
14 feature




Recovery special
Which sectors will lead UK growth in the next five years? Three Moore and Smalley
experts analyse the industries they believe will be at the heart of our recovery.



  Low carbon world means high profit businesses

  A
          n upsurge in                          entered the public consciousness on a          level to rise to 45 per cent by 2015.
          environmental                         national – and indeed international –               Successful recycling and waste
          legislation,                          level. We are all familiar with the globally   businesses have invested in both capital
  combined with public                          recognised logo that promotes recycling as     equipment as well as systems and
  demand for sustainable                        an integral part of living a ‘greener’, more   procedures to ensure that they have
  living means the future is                    altruistic life.                               obtained the appropriate licences and can
  green. Andrew Norman                               As a result, recycling is now a central   provide the necessary audit traceability of
  explains why.                                 activity in most business sectors, from oils   used materials.
       The recycling industry has been          and plastics to household and green waste.          Powerful growth in the sector also
  around for a long time in the guise of        The cost of treating waste and the long        brings challenges. Over the coming years,
  traditional businesses such as scrap metal    term shortage of landfill sites has            recycling and waste management
  merchants and reclamation businesses          propelled recycling into fresh economic        businesses will have to develop continuing
  operating alongside demolition                pastures, with businesses in the sector        efficiency measures in recycling
  contractors.                                  capable of enormous profitability.             techniques, deliver innovation through
       However, the last decade has seen a           The economic strategy for recycling is    new technology, and educate businesses
  radical step-change in the sector which has   driven by the ever increasing costs of         and individuals in the benefits of recycling.
  shed its shabby image and acquired the        waste management and escalating                All this will need to be supported with a
  mantle of a dynamic, forward looking          concerns over climate change. Figures          capital investment programme to meet
  industry with green credentials second to     from the Office for National Statistics        continually increasing demand.
  none.                                         indicate that almost 35 per cent of UK              However, the main aims of recycling
       This transformation has in part been     household waste in 2007/08 was recycled.       and waste management – to save energy,
  driven by regulatory requirements, such as         Although this is in line with many        reduce waste in landfill sites and help
  the EU framework directive on waste,          countries in the EU, there is still room for   create a low-carbon economy – are in
  bolstered by legislation from the UK          improvement. Austria recycles 60 per cent      harmony with legislative requirements and
  government.                                   of its waste and the UK National Waste         public sentiment. The upshot is a sector
       Equally importantly, the                 Strategy, backed by the government,            with massive and sustainable growth
  environmental virtues of recycling have       requires the country’s household recycling     potential.
                                                                                                                               feature 15




Automotive sector is set to drive growth

T
       he automotive                           Leyland Trucks and bus-maker Optare.          impact. The climate change agenda is
       industry is a large                     This is not to mention around 250             driving much of these technological
       and critical sector                     automotive supply chain companies and a       advances, resulting in increased
that is expected to                            further 250 related businesses.               investment in R&D and skilled workforces.
generate strong growth.                            Prospects for the regional sector are     According to the SMMT’s annual New Car
Ginni Cooper examines                          encouraging, with preparations under way      CO2 Report, the emission from an average
the industry’s prospects.                      at Halewood to produce the new small          new car sold in the UK in 2009 was 21.2
    Recent figures from the Society of         Range Rover and Vauxhall’s Ellesmere          per cent better than the 1997 base level
Motor Manufacturers and Traders                Port plant receiving the go-ahead from        and this continues to improve into 2010.
(SMMT) reveal that the UK has more than        parent business General Motors to                  Consumers are more conscious than
30 automotive manufacturers, producing         produce the acclaimed new Astra.              ever of the need for low carbon transport
more than one million vehicles and two             Recent turbulent economic conditions      and this presents a significant opportunity
million engines per year, and contributing     had a significant impact on the sector.       for the industry. The government has
£10 billion to the UK economy.                 Many manufacturers streamlined                recently confirmed that the Plug-In-Car
    With some 180,000 UK jobs relying on       operations and similar activity has           Grant will go ahead from January 2011.
automotive manufacturing and 640,000           followed suit throughout the supply chain.    The aim of this is to stimulate demand for
UK jobs on automotive supply, retail and       The positive outcome, however, should         low carbon vehicles and could entitle
servicing, this is clearly an industry whose   manifest itself in more robust                motorists to a grant towards the cost of an
future is of enormous significance to the      organisations ready for an economic           electric, plug-in hybrid or hydrogen fuel
broader economy.                               upturn.                                       cell car, which will generate further
    On a regional level, the North West is         Technological progress has seen           expansion across the sector.
home to car makers Jaguar Land Rover           dramatic improvements in vehicle safety,
(JLR), Vauxhall and Bentley, as well as        economy, performance and environmental




Leisure and tourism will boost recovery

G
        reat things are                        visitors. Just as impressively, leisure and        Among the challenges facing the sector
        expected of the                        tourism is ranked third in the country’s      is attracting more overseas visitors,
        leisure and                            top exporting industries, beaten only by      especially from locations such as India and
tourism industry, hailed                       chemicals and financial services.             China where foreign travel is becoming an
recently by the Prime                              Another reason why leisure and            option for emerging middle classes. If
Minister as the sector to                      tourism has caught the Prime Minister’s       these newly rich individuals do a European
drive the nation’s                             eye may well be linked to its value           tour, we must ensure the UK is on their
economic recovery. Rachel Marsdin              to the exchequer. Last year, government       itinerary.
examines some of the issues.                   coffers were swollen by £3bn in tax                Domestically, the challenges are to
    Leisure and tourism is certainly well      revenue as a result of spending by            make the ‘staycation’ concept permanent
positioned to perform strongly over the        foreign tourists.                             so more British people holiday in the UK,
next five years. Official figures show that        Not surprisingly, London accounted        while addressing funding issues. Many
in 2009 the industry created almost nine       for half of the most visited places by        hotels and other sites have relied on the
per cent of GDP, while some £90bn was          inbound tourists in the UK, with 37 per       tourist boards for grant funding, but in the
spent by tourists, and 2.6m people were        cent spread across the rest of England.       current climate they must find alternative
employed directly and indirectly in the            The North West, with the Lake District    means of financing vitally needed
sector – that’s one in 12 people in the        and the great cities of Manchester and        improvements.
national workforce.                            Liverpool, has no doubt played a major
    Forecasts predict the industry’s           role in attracting visitors from overseas
contribution to the economy will grow by       while Blackpool retains its position as the
60 per cent by 2020, with spending by          nation’s favourite resort, second only to
tourists predicted to rise by three per cent   London in the country’s league table of
annually, driven largely by overseas           most visited places by Britons.
16 vat



                                                                                                                Stephen Adams




20 per cent
                                                                                                            Associate tax principal
                                                                                                                     01772 821021
                                                                                             stephen.adams@mooreandsmalley.co.uk




VAT health check
O
        ur 20 per cent VAT health check is
        for firms that wish to help customers                    ‘Special rules apply to tickets for sporting
        to buy goods and services from them
before 20 per cent VAT arrives on January 4,
                                                                                           and other events’
2011. It builds on HM Revenue & Customs’
(HMRC’s) detailed rules to avoid 20 per cent
VAT on sales which span January 4, 2011, ie:
• Goods or services supplied before January
  4, 2011 but invoiced or paid after January
  4, 2011 and;
• Invoices or payments before January 4,
  2011 for goods or services supplied after
  January 4, 2011 and;
• Continuous or single supplies of services
  provided before and after January 4, 2011.

Likewise you may wish to buy things
yourself before January 4, 2011, but care is
needed as HMRC make it clear they will still
assess 20 per cent VAT on any deals
perceived as artificial, where at least ONE of
the following summary conditions apply:
• The supplier and customer are connected
  or;
• The supplier (or anyone connected with the
  supplier) finances any prepayment or;
• The supplier sends an invoice which is not
  for payment within six months or;
• The sale (and any related sales) amount to
  over £100,000.
                                                  • Groups of companies – using a VAT group
                                                                                                         And finally… take cover from the
Special rules also apply to particular types of     to avoid VAT on intra-group transactions.
                                                                                                         cost of HMRC investigations
businesses and transactions, spanning             • Large firms– reclaiming VAT on                           We are seeing increasing efforts by
January 4, 2011 including:                          unprocessed purchase invoices each                   HMRC to collect fines for undisclosed
• Advance tickets and season tickets for            quarter.                                             ‘careless’ errors which now attract a
  sporting and other events.                      • Medium firms – accounting for VAT on a               minimum 15 per cent fine. Our fee
• Club and other subscriptions paid in              cash basis if turnover is below £1.6m pa.            protection scheme avoids the high cost
  advance.                                        • Small firms – paying VAT at a lower flat             of dealing with HMRC enquiries and
• Hire purchase and conditional / credit            rate if turnover is below £230,000 pa.               investigations which can exceed a few
  sales.                                                                                                 thousand pounds as HMRC always
                                                  • All firms – billing at the start, ie, not at the
                                                                                                         require detailed analysis of all relevant
• All land/property and construction service        end, of each VAT quarter.
                                                                                                         facts before agreeing to waive or
  transactions.
                                                  Please do get in touch to discuss how the              suspend any fines. Costs are covered
Our 20 per cent VAT health check is also          cost of VAT can be reduced in your business            from receipt of the initial HMRC letter
helping many firms to reduce the cost of          at any time, as the new VAT rate (one                  and the scheme provides peace of mind
VAT by making full use of special VAT             sixth of VAT inclusive turnover) will                  so you can carry on running your
schemes and good housekeeping                     almost certainly focus the minds of most               business instead of losing valuable time
techniques, for example:                          firms next year.                                       to HMRC. Contact Moore and Smalley
                                                                                                         on 01772 821021 for further details.
                                                                                                                       food for thought 17




                                                         foodforthought
                                                                     business opinion, thoughts and advice


Jim Hancock writes                                                                               Learning curve
                                                                                                 defining moments
                                                                                                 in business




                                                                                                 One of the most crucial lessons for any
                                                                                                 service-led business in the current economic
                                                                                                 climate is to align your activities so they
                                                                                                 continue to reflect your clients’ changing
                                                                                                 requirements.
                                                                                                      A few years ago, people were
                                                                                                 commissioning nice-to-have services,
                                                                                                 whereas these days they are looking for ways
                                                                                                 of driving down costs and increasing
                                                                                                 efficiency.
                                                                                                      This means it’s vital to understand the
                                                                                                 critical areas of the client’s business and be
                                                                                                 very clear on how your input will benefit
                                                                                                 their bottom line in a direct and measurable
Preston’s council leader called them the most important six weeks in the city’s history.         way. Just as importantly, you must
     Ken Hudson was referring to the public inquiry into the Tithebarn project, the £700m        implement the same approach internally, so
plan to revamp the city centre’s retail, leisure and transport offer.                            your commercial focus mirrors your client’s.
     From my observation it was certainly a gruelling six weeks on the Preston City Campus of         If a client is looking to extract greater
UCLan. During six of the hottest weeks of this fine summer, lawyers and planners battled         value from expenditure, you must
back and forth over this contentious plan.                                                       demonstrate that you are also doing this –
     It has sadly pitted Preston against her neighbours, Blackpool and Blackburn, at a time      not simply by talking about it, but actually
when all the talk is about new local enterprise partnerships to replace regional structures.     doing it within your own organisation.
     For some of the time I sat next to Cllr Hudson at the inquiry. He resembled a                    We are now continually asking ourselves
football manager in the dugout. He’d given his team instructions but could do no                 the same question that our clients are
more to influence play.                                                                          asking: If I invest in this, how will it help me
     Back and forth the argument went as the weeks passed. The excellent counsel for the         to achieve my strategic goals?
opponents tried to convince the inspector their case was not based on spite or envy but out of        Businesses that align themselves in this
a duty to the Central Lancashire region. We were asked to imagine shoppers drawn away            way will not only deliver a more focused
from the delights of shopping on Blackpool’s prom into the vortex of Preston.                    service to their clients, but will also improve
     Preston came back fighting saying the city deserved the regeneration other towns had        their own performance.
undergone. But there was an ominous warning for the inspector now considering his verdict.            Keith Longney is managing
If the scheme was rejected the developers Lend Lease would not submit another scheme nor         director of Kendal-based management
invest in other parts of Lancashire.                                                             training company Acorn Coaching and
Written by Jim Hancock, the former political editor of BBC North West and                        Development. Visit
columnist for Liverpool Daily Post and EN magazine                                               www.acorncoaching.com
18 food for thought




foodforthought
business opinion, thoughts and advice


                                                                                              How to groom
  Jargon buster: What is a BIMBO?                                                             your business
                                                                                              for sale
  Buy-in management buy outs – better known as BIMBOs – are effectively a cross
  between a management buyout (MBO) and a management buy-in (MBI).
      A BIMBO transaction involves the acquisition of a business by its existing
                                                                                              Grooming a business for sale is not
  management team combined with external management buy-in candidates. This type of
                                                                                              something to be done at short notice
  deal is a particularly useful means of bridging skills gaps in an internal buyout team by
                                                                                              and a time-frame of at least two years
  bringing in key individuals from outside the business.
                                                                                              should be built in if the process is to have
      The success of a traditional MBO hinges on the skill-set of the management team as
                                                                                              maximum effect.
  a whole, but deals are sometimes hamstrung by a lack of expertise or experience in
                                                                                                  The importance of grooming cannot
  some areas.
                                                                                              be overstated. The aim is not to ‘window
      On the other hand, an MBI involves forming a new management team specifically
                                                                                              dress’ a business, but to ensure it is fit
  to replace current management, which means the MBI directors will not have a detailed
                                                                                              to be marketed in much the same way
  understanding of the business.
                                                                                              as an athlete is fit to enter a lengthy and
      A BIMBO combines the advantages of the existing management team, with its
                                                                                              testing event.
  hands-on experience of running the business, with the skills of new management.
                                                                                                  This means any issues that could detract
      However, BIMBOs are not always the ‘dream ticket’ they might seem. Success
                                                                                              from the value are resolved well in advance
  requires all members of the management team to work as one in sharing their
                                                                                              so that the business will stand up to the
  knowledge and skills, but conflicts can and do arise among individuals from different
                                                                                              close scrutiny of a potential purchaser’s due
  backgrounds.
                                                                                              diligence team.
  Written by Damian Walmsley, partner                                                             Identifying probable purchasers and
                                                                                              tackling the issues most likely to concern
                                                                                              them is another crucial element of the


Get connected: dealing with the media
                                                                                              grooming procedure.
                                                                                                  It is also important to ensure the
                                                                                              business is soundly managed, while
Media interviews can be daunting. However, they are a chance to tell your story and make a    demonstrating a track record of solid
good impression for your company. But preparation is the key. Here are ten handy tips:        profitability, along with a business plan that
                                                                                              projects growth beyond the expected timing
1. Be prepared – anticipate the questions you may be asked.
                                                                                              of the sale.
2. Prepare a single communication objective and two or three secondary points you want
                                                                                                  Efficient management of working capital
    to make.
                                                                                              and positive cashflow will always impress
3. Familiarise yourself with the programme, publication or radio show to get an idea of the
                                                                                              potential buyers. They will additionally want
    tone of the interview.
                                                                                              to see evidence of sound customer
4. Try and be confident – this is your interview.
                                                                                              relationships that are free from product or
5. Be positive and not defensive.
                                                                                              service quality problems.
6. Keep responses brief – do not give short yes and no answers, yet do not ramble on.
                                                                                                  Finally, it is essential to resolve any tax
7. Compose your thoughts before you speak.
                                                                                              issues, as well as environmental, health and
8. Know your facts – try not to say “I think” as this does not sound positive.
                                                                                              safety, regulatory and pension concerns.
9. Avoid saying things “off the record” to journalists – assume everything you say will be
    quoted, and never say “no comment”.                                                       Written by Stephen Gregson, corporate
10. Avoid speaking in jargon – you want to put your message across as plainly as possible.    finance director

Written by Mitch Landis from MLPR




Wisewords
“It is not the employer who pays the wages. He only handles the money. It is the product that pays the wages.”
Henry Ford
                                                                                                                     food for thought 19




                                                          foodforthought
                                                                      business opinion, thoughts and advice


Banishing the thieves of time
                                                                                                   Waiting patently
                                                                                                   Safeguarding your ideas and
                                                                                                   inventions – also known as
                                                                                                   intellectual property – is critical to
                                                                                                   business success. You can do this with
                                                                                                   a patent, but registration is neither
                                                                                                   straightforward nor cheap and
                                                                                                   a number of factors should be kept
                                                                                                   in mind.

                                                                                                   1. Is your idea a sound commercial
                                                                                                      proposition? If it won’t get off the
                                                                                                      ground you will be wasting your
                                                                                                      money registering it. You should
                                                                                                      also ensure that nobody has got
                                                                                                      there first – a Google search is a
                                                                                                      good start.

                                                                                                   2. Next stop is the Patent Office where
                                                                                                      a search of the records will reveal if
                                                                                                      a similar idea has been patented.
                                                                                                      You can do this yourself or use a
Successful senior managers must leverage a high ratio of time to productivity. Here are six           patent agent or patent attorney.
useful ways to get more for less.
                                                                                                   3. A patent prevents anyone else from
Arrive early                                                                                          making, using, selling or importing
Getting into work before everyone else means you miss the morning traffic; can work without           your invention for up to 20 years.
distractions until your colleagues arrive; and get a head start on the day.                           But patents apply only to the
                                                                                                      country which has granted them so
When possible, work from home
                                                                                                      think carefully about where you
You immediately save the time you would have spent on the daily commute and can get
                                                                                                      need the protection.
through much more work when you aren’t being buttonholed on your way to the coffee
machine or by colleagues ‘dropping by’.                                                            4. A patent can take three or four
                                                                                                      years to arrive and one of the main
Outsource
                                                                                                      issues affecting growing businesses
Owner managers in particular tend to believe that if they can do something, they should.
                                                                                                      is the need to develop and market
But outsourcing is extremely efficient and there are very few business functions that cannot
                                                                                                      your product as soon as possible.
be done better, faster and cheaper by outsourcing to professionals.
                                                                                                      Consider how you will safeguard
Delegate                                                                                              your idea during this period.
Learn to trust your team. If you don’t think a person can handle a task, take the time to train
                                                                                                   5. Obtaining a patent can also be
him or her to do so. This will save you a great deal of time later. Delegating means you
                                                                                                      expensive and you often need deep
empower others, thereby raising their productivity, while freeing yourself to focus on strategy.
                                                                                                      pockets to enforce it. It is
Don’t let meetings meander                                                                            sometimes more cost-effective not
Avoid having meetings whenever possible and if you must hold one, set a strict time limit. All        to apply for the patent and instead
too often people believe it is written somewhere that meetings must take at least two hours or        rely on keeping your idea
worse still, half a day.                                                                              confidential.

Don’t be a slave to email                                                                          Written by Adam Parton,
Resist the temptation to respond to emails on a drip-feed basis throughout the day. Set aside      corporate services director
one or two periods to process your emails, then work through them methodically.

Written by Danny Houghton, partner
Smalleytalk




                                                                                                                                                                                                                      Managing Editor: Danny Houghton Written and Made in Freshfield. www.freshfield.com
Brainiacs                                                                                                                                   2010 Meyler Cup
Moore and Smalley has been testing the                              Nine local businesses took part in the                                  winners
knowledge of its clients and intermediaries                     quiz, held at The Glendower Hotel, Lytham,
with its popular charity quiz nights.                           in aid of the independent humanitarian
    The firm raised over £500 for                               medical aid organisation.
international medical charity Médecins Sans                         Meanwhile, the firm held a quiz at The
Frontières (MSF) after hosting a quiz to                        Hawkshead Brewery in Kendal which raised
mark the 15th anniversary of the Association                    £289 for Nurture Lakeland’s Staveley
of Independent Specialist Medical                               Riverside Walk Fund which improves public
Accountants (AISMA).                                            footpaths to give better access for people
                                                                with limited mobility.




Peter bows out at Moore and Smalley
                                                                     Peter, who joined the firm as an articled
                                                                clerk and qualified in 1973, was made a
                                                                partner in 1977 and had a varied client
                                                                                                                                             (L-R) Sohel Master (captain), David Ingram and
                                                                portfolio of commercial and not-for-profit                                   Arthur Rose
                                                                organisations.
                                                                     The 62-year-old will remain advising                                   Whittingham and Goosnargh First XI have
                                                                some of the firm’s charity clients. Peter now                               been crowned winners of the Moore and
                                                                occupies a number of official roles for                                     Smalley-sponsored Palace Shield Meyler
                                                                various charities including The Harris                                      Cup – the ‘FA Cup’ of the Palace Shield
                                                                Museum, The Harris Charity, Preston Relief                                  cricket league.
                                                                in Need, Gift ‘92 and Galloways.                                                They defeated Vernon Carus in the final.
                                                                     Peter said: “The firm has a bright future                              Moshin Mohdi was awarded man-of-the-
Former Moore and Smalley partner, Peter
                                                                ahead. I’ll be sorry to leave but I will enjoy                              match for his 78.
Metcalf, has bid a fond farewell to colleagues
                                                                sitting on the other side of the fence through                                  Sponsored by Moore and Smalley, the
after announcing his retirement from the
                                                                my various roles with charities.”                                           Palace Shield celebrated the 75th
firm. But he won’t be hanging up his suit for
                                                                                                                                            anniversary of the Meyler Cup in 2010.
good just yet.




Making the news
It’s been a busy summer in the spotlight for                    magazine Caring UK.                                                         affecting British Airways.
Moore and Smalley’s business and finance                            Moore and Smalley’s specialist leisure                                      Another big story was Blackpool Football
experts.                                                        and tourism team used the holiday season to                                 Club’s first match in the Premier League. As
     In June, the firm was inundated with                       raise its profile with a round table discussion                             part of its preview coverage, the Blackpool
requests for analysis of the emergency                          on Lancashire’s visitor economy. The event                                  Gazette reported on Moore and Smalley’s web
Budget. This led to David Ingram, Stephen                       featured in the Lancaster Guardian,                                         poll which found the majority of local
Adams, David Bennett and Colin Johnson                          Morecambe Visitor, Lancashire Telegraph                                     businesses thought Blackpool’s Premier League
being interviewed for broadcasts on BBC                         and Lancashire Evening Post.                                                status would boost the town’s economy.
Radio Lancashire and BBC Radio Cumbria.                             Meanwhile, the Westmorland Gazette                                          Finally, partner Karen Hain, was
     The corporate finance team were in the                     reported on a strong summer trading period                                  interviewed by the Lancashire Evening Post
news again after completing a deal involving                    for hotels in Cumbria. Corporate services                                   for a story on the Legal Services Act. Karen
domiciliary care business Total Care North                      director Colin Johnson gave his thoughts on                                 explained how Moore and Smalley is
West Ltd. The story made headlines in the                       the trend, citing May and June’s hot                                        advising a number of law firms on the new
regional business media and leading trade                       weather, the ash cloud crisis and strikes                                   business structures allowed under the Act.



                           Preston (head office): Richard House, 9 Winckley Square, Preston, Lancashire PR1 3HP Tel: 01772 821021
                                  Fylde: Tel: 01253 404404 Kendal: Tel: 01539 729727 Kirkby Lonsdale: Tel: 015242 71402
                                   Lancaster: Tel: 01524 62801 Nottingham: Tel: 0115 972 1050 Central fax: 01772 259441
                                                                                         www.mooreandsmalley.co.uk
                      Moore and Smalley LLP is a limited liability partnership registered in England and Wales: No. OC313896. Registered Office: Richard House, 9 Winckley Square, Preston,
                       Lancashire PR1 3HP. The term “partner” indicates a member of Moore and Smalley LLP who is not in partnership for the purpose of the Partnership Act 1890. A list of
                                                                                         members is available from our registered office.
                    Moore and Smalley are registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales. Authorised and regulated by the Financial Services Authority.
                                                            Moore and Smalley C.A. Limited is a limited company registered in England and Wales: Company No. 5373155.
                                                                         Registered Office: Richard House, 9 Winckley Square, Preston, Lancashire PR1 3HP.

								
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