Mark Carney, Governor of the Bank of England, brought some sunshine into lives across the United Kingdom with news of the economy’s growth, lower inflation and declining unemployment.
Downsides to this news — and we have to consider them — is that growth, lower inflation and rising employment should herald a change to the very low interest rates that have helped to mitigate against inflationary pressures that we’ve had over the last few years.
The question I’m interested in is — on behalf of all businesses here in Hertfordshire — when will the Bank of England raise the interest rate? The Governor was clear that the Bank will consider a rise when unemployment falls to 7 per cent. When’s that likely to be? There is some speculation that this will be mid 2015, but perhaps a more realistic expectation will be end 2016.
There is so much riding on rising interest rates, available cash for investment, current productivity levels and household cash for spending in the economy.
What will this mean for local businesses? In a Bank of England briefing to East of England businesses a few days ago, its East of England agent, Phil Eckersley, pointed out that the lending to SMEs was contracting at a faster rate than previously; a concern for the Bank. For smaller businesses however, there has been slightly cheaper financing; credit costs have improved for them.
Business investment and intentions are showing signs of improving. Our export prospects look quite good, despite a recent dip. But we’re still not exporting our way out. What could damage our export prospects is the strengthening of the Stirling on world money markets.
New employment growth is easing back; businesses are beginning to mop up capacity to improve productivity. Companies are expecting output to increase and demand for employment to outstrip jobs. Hopefully this will be a short-lived trend, particularly here in Hertfordshire.
Wages have seen no real change. Private sector earnings are subdued; bonuses are lower too. Prices are likely to rise, but this won’t affect wages.
We are consuming more than we’re earning. This means we’re saving less, which itself means we are feeling much more confident about the future. One indicator of this is the strengthening new car market; we’re rewarding ourselves now.
For household borrowings, which affect money flow into the local economy, there have been some cheap deals on personal loan rates. Housing affordability is a key factor, and while there has been rumour of a housing market bubble in response to Help to Buy initiatives, it is thought that this is highly unlikely; although hotspot overheating might occur in one or two places, such as London.
Britain might be an island, but we’re not immune to less positive recovery headwinds from other continents. Here in Hertfordshire, we must actively encourage micro business ambition, help SMEs where we can pursue finance options such as capital grants and to recruit from the local labour pool, and constantly find ways to create jobs for school leavers.
Showing posts with label business. Show all posts
Showing posts with label business. Show all posts
Tuesday, 26 November 2013
Monday, 25 February 2013
You have to be in it to win it!
With just over a week to go until the deadline for our 2013 Inspiring Hertfordshire awards, we are getting very excited about discovering some new centres of business excellence, outstanding individuals and showcasing some amazing talent in the County!
For some experienced award winners, it isn’t just about delegating the task of completing of a form, and hope and see, it’s part of a strategic journey to showcase the organisation as an excellent employer, and or outstanding company to do business with, or to gain recognition for outstanding performance and achievement. This not only gains a huge amount of publicity, leading to new business opportunities but also plays a significant role in attracting the cream of talent, and boost confidence and morale internally. For SME’s that may find they really haven’t got the time, we learnt from finalists last year in the same position who claimed by investing time into the business, to analyse where it had come from, what it had achieved this year, and more importantly the vision for the future, was worth every penny in time.
What was evident was the consistent approach across all the finalists and winners in how outwardly facing they were in the local community, with board level commitment to engaging with the local community, building local relationships with schools, and local charities, and embedding a culture that fosters supporting local prosperity. Whatever category the finalists and winners entered there was a clear vision for growth in this area, they weren’t merely reacting to local opportunities but had a clear business plan and strategic objectives for raising customer excellence, or growing International trade , and even a KPI for winning awards.
If you haven’t yet downloaded your entry form, there’s still time, www.hertschamber.com and we are delighted to have the support from leading businesses across the county as 2013 sponsors and judges;
Server Choice, Smart source, Ashridge, Goldsmith Centre, Breeze and Wyle’s UH , Exemplas, Simply health, Aldwyk Housing, and Cllr Sharon Taylor, Locality budget and Stevenage Borough Council, and Dacorum ‘Look No Further’ sponsoring our new Tourism Award.
I hope 2013 will be an Inspirational year for Hertfordshire businesses and hope we will have the opportunity to showcase many of you at our awards dinner on the 16th May, at Porsche Hatfield, and wish you further success in the Comets’ own Hertfordshire Business Awards launched later this year.
For some experienced award winners, it isn’t just about delegating the task of completing of a form, and hope and see, it’s part of a strategic journey to showcase the organisation as an excellent employer, and or outstanding company to do business with, or to gain recognition for outstanding performance and achievement. This not only gains a huge amount of publicity, leading to new business opportunities but also plays a significant role in attracting the cream of talent, and boost confidence and morale internally. For SME’s that may find they really haven’t got the time, we learnt from finalists last year in the same position who claimed by investing time into the business, to analyse where it had come from, what it had achieved this year, and more importantly the vision for the future, was worth every penny in time.
What was evident was the consistent approach across all the finalists and winners in how outwardly facing they were in the local community, with board level commitment to engaging with the local community, building local relationships with schools, and local charities, and embedding a culture that fosters supporting local prosperity. Whatever category the finalists and winners entered there was a clear vision for growth in this area, they weren’t merely reacting to local opportunities but had a clear business plan and strategic objectives for raising customer excellence, or growing International trade , and even a KPI for winning awards.
If you haven’t yet downloaded your entry form, there’s still time, www.hertschamber.com and we are delighted to have the support from leading businesses across the county as 2013 sponsors and judges;
Server Choice, Smart source, Ashridge, Goldsmith Centre, Breeze and Wyle’s UH , Exemplas, Simply health, Aldwyk Housing, and Cllr Sharon Taylor, Locality budget and Stevenage Borough Council, and Dacorum ‘Look No Further’ sponsoring our new Tourism Award.
I hope 2013 will be an Inspirational year for Hertfordshire businesses and hope we will have the opportunity to showcase many of you at our awards dinner on the 16th May, at Porsche Hatfield, and wish you further success in the Comets’ own Hertfordshire Business Awards launched later this year.
Tuesday, 30 October 2012
Father Christmas?? No, I dont think so either...
Economic growth, the ‘holy grail’ how, or who, will make it happen? Government, the Banks, perhaps it will be Father Christmas? No I don’t think so either. Certainly the Government and Banks have an important part to play and, depending on their actions, they are likely to have an effect, whether it be positive or negative remains to be seen but, at the end of the day, there can be little doubt that it is only businesses and their customers who will turn the economy around.
Depending on your point of view one might argue that we should welcome Government initiatives such as those designed to remove red tape, reduce onerous planning conditions and to enable small businesses that are struggling to obtain finance from an increasingly risk averse banking sector. Though, it will take time for benefits to become apparent every little helps. Red tape impacts disproportionately on small growing businesses and many are deterred from expansion as a result of concerns, real and imagined, with the planning system. I am also very aware of the Banks claims to ‘have plenty of money and are eager to lend’ but in truth I have seen no evidence to suggest that such claims are being translated into action.
Those of us who are a bit longer in the tooth will remember the days when banking was about locally based people who understood local businesses and were prepared to manage risk not, as seems to be the case today, to eradicate it entirely. Time will tell if the Governments initiative makes a difference but, whatever the merits, I suspect that very few people are expecting the ‘complete’ solution.
In the past the answer was easy, throw more public money at it, sadly there isn’t much left. Nonetheless, there appears to be some being made available to parts of the country where unemployment and other issues remain a consistent problem no matter how much money is lavished upon them. This might make some social sense but in reality it is highly questionable as to whether the impact is anything other than short term. Perhaps it is time to take a different approach, how about reducing the amount of money being poured into these areas, where without incentives businesses are reluctant to locate, to create jobs that have all the sustainability of a chocolate teapot. Instead, what about investing it in areas that are able to produce long term benefits that are likely to be economically sustainable for some time to come?
Where should the Government invest our money? Where it will have most effect of course? How about places like Hertfordshire? Places where businesses want to be; places where good long term jobs can be created; places which have the communication and transport links that are essential to success in the global economy. Taking funding, as we have historically done, from areas that are generally successful and pumping it into areas with a track record of failure might deliver short term social benefits but in the long run, from a business perspective, makes no sense at all.
The other essential part of the equation requires encouraging customers to spend money, raising the taxes of those who are able to do so won’t achieve this nor will maintaining some of the other barriers that discourage them from doing so. Half hearted efforts to ignite the housing market for instance will not work if, in this part of the world at least, stamp duty remains at current levels. Why move from one asset that is not accruing in value to another when the cost of doing so is added to by high levels of indirect taxation.
Clearly the Government is not in a position to start flinging cash, nor can it afford to choke off regular income lines, but surely with a little imagination there are actions that could be taken to encourage consumer spending without adding further pressure on the National Debt.
The removal of stamp duty; extending the National Insurance holiday on small businesses taking on new staff to include this part of the country; using some of the enormous amounts of business rates that are collected here and spent elsewhere to accelerate business growth and encourage research and investment in areas that are able to sustain it; might provide fertile ground in the search for solutions. Clearly the decisions of Government are difficult and challenging but to paraphrase what a wise man once said ‘if you keep doing the same things expecting different results you are likely to be very disappointed’. Actually he said that this was a definition of madness but you know what I mean.
Depending on your point of view one might argue that we should welcome Government initiatives such as those designed to remove red tape, reduce onerous planning conditions and to enable small businesses that are struggling to obtain finance from an increasingly risk averse banking sector. Though, it will take time for benefits to become apparent every little helps. Red tape impacts disproportionately on small growing businesses and many are deterred from expansion as a result of concerns, real and imagined, with the planning system. I am also very aware of the Banks claims to ‘have plenty of money and are eager to lend’ but in truth I have seen no evidence to suggest that such claims are being translated into action.
Those of us who are a bit longer in the tooth will remember the days when banking was about locally based people who understood local businesses and were prepared to manage risk not, as seems to be the case today, to eradicate it entirely. Time will tell if the Governments initiative makes a difference but, whatever the merits, I suspect that very few people are expecting the ‘complete’ solution.
In the past the answer was easy, throw more public money at it, sadly there isn’t much left. Nonetheless, there appears to be some being made available to parts of the country where unemployment and other issues remain a consistent problem no matter how much money is lavished upon them. This might make some social sense but in reality it is highly questionable as to whether the impact is anything other than short term. Perhaps it is time to take a different approach, how about reducing the amount of money being poured into these areas, where without incentives businesses are reluctant to locate, to create jobs that have all the sustainability of a chocolate teapot. Instead, what about investing it in areas that are able to produce long term benefits that are likely to be economically sustainable for some time to come?
Where should the Government invest our money? Where it will have most effect of course? How about places like Hertfordshire? Places where businesses want to be; places where good long term jobs can be created; places which have the communication and transport links that are essential to success in the global economy. Taking funding, as we have historically done, from areas that are generally successful and pumping it into areas with a track record of failure might deliver short term social benefits but in the long run, from a business perspective, makes no sense at all.
The other essential part of the equation requires encouraging customers to spend money, raising the taxes of those who are able to do so won’t achieve this nor will maintaining some of the other barriers that discourage them from doing so. Half hearted efforts to ignite the housing market for instance will not work if, in this part of the world at least, stamp duty remains at current levels. Why move from one asset that is not accruing in value to another when the cost of doing so is added to by high levels of indirect taxation.
Clearly the Government is not in a position to start flinging cash, nor can it afford to choke off regular income lines, but surely with a little imagination there are actions that could be taken to encourage consumer spending without adding further pressure on the National Debt.
The removal of stamp duty; extending the National Insurance holiday on small businesses taking on new staff to include this part of the country; using some of the enormous amounts of business rates that are collected here and spent elsewhere to accelerate business growth and encourage research and investment in areas that are able to sustain it; might provide fertile ground in the search for solutions. Clearly the decisions of Government are difficult and challenging but to paraphrase what a wise man once said ‘if you keep doing the same things expecting different results you are likely to be very disappointed’. Actually he said that this was a definition of madness but you know what I mean.
Thursday, 30 August 2012
The Government didnt cause the current problems but as they are in the driving seat they need to do something about it...
As yet more statistics hit the street proclaiming further economic gloom and doom some of us, me included, are inclined to scratch around for straws of comfort rather than to simply accept the implications of the evidence that some would say is staring us in the face. Burying our heads in the sand? Maybe, but on the other hand what’s to be gained from burying our heads in our hands? In any case, is relying upon these traditional indicators of financial health helpful?
In recent years, largely as a result of incredible technological changes, the world has moved on at a pace that few would have thought possible ten years ago. It was only 15 years or so ago that email was regarded with suspicion, that websites were rare in the extreme and that social media was not even a twinkle in some ‘techies’ eye. As the use of technology has become more widespread customer practice and demand has changed dramatically.
Was it only a few years ago that people maintained that internet sales wouldn’t take off claiming that before purchasing buyers would need to be able to touch and feel whatever it was they were buying. Nowadays we can reflect, not only upon how wrong they were, but also upon the wider impact of the online revolution. One could write volumes on the subject; demands for greater convenience, lower prices, that most white goods are now regarded as being disposable to name only a few of the outcomes.
Simultaneously attitudes have changed in other areas. Remember the heady days when our houses earned more than we did and, for those who had any, cash deposited in the bank grew in value with little or no effort. Those were the days when, if servicing debt became difficult, we just borrowed more; happy days, when water was cheaper than milk and diesel was cheaper than petrol. Weren’t those the days too when the experts decided that it would be more cost effective to send manufacturing processes to parts of the world where they could be carried out more cheaply while we would thrive on ‘high value’ processes alone.. What crazy times they were.
My point? Well we can bemoan rises in public borrowing, widening of the balance of payments, reduced standards in education, the wrong type of leaves on the line, and any other thing that takes your fancy, but the fact is that, unless somebody is prepared to do something as a result, such indicators are of little more than academic interest. In any case, given the way the world has changed in recent years, I would question whether the traditional indicators are as pertinent as they were in the past. The one thing I am sure of is that the time for simply sitting with our heads in our hands has long passed we need action, energy and direction leading to growth in the economy. This government didn’t cause the current problems but as they are in the driving seat they need to get on and do something about it.
In recent years, largely as a result of incredible technological changes, the world has moved on at a pace that few would have thought possible ten years ago. It was only 15 years or so ago that email was regarded with suspicion, that websites were rare in the extreme and that social media was not even a twinkle in some ‘techies’ eye. As the use of technology has become more widespread customer practice and demand has changed dramatically.
Was it only a few years ago that people maintained that internet sales wouldn’t take off claiming that before purchasing buyers would need to be able to touch and feel whatever it was they were buying. Nowadays we can reflect, not only upon how wrong they were, but also upon the wider impact of the online revolution. One could write volumes on the subject; demands for greater convenience, lower prices, that most white goods are now regarded as being disposable to name only a few of the outcomes.
Simultaneously attitudes have changed in other areas. Remember the heady days when our houses earned more than we did and, for those who had any, cash deposited in the bank grew in value with little or no effort. Those were the days when, if servicing debt became difficult, we just borrowed more; happy days, when water was cheaper than milk and diesel was cheaper than petrol. Weren’t those the days too when the experts decided that it would be more cost effective to send manufacturing processes to parts of the world where they could be carried out more cheaply while we would thrive on ‘high value’ processes alone.. What crazy times they were.
My point? Well we can bemoan rises in public borrowing, widening of the balance of payments, reduced standards in education, the wrong type of leaves on the line, and any other thing that takes your fancy, but the fact is that, unless somebody is prepared to do something as a result, such indicators are of little more than academic interest. In any case, given the way the world has changed in recent years, I would question whether the traditional indicators are as pertinent as they were in the past. The one thing I am sure of is that the time for simply sitting with our heads in our hands has long passed we need action, energy and direction leading to growth in the economy. This government didn’t cause the current problems but as they are in the driving seat they need to get on and do something about it.
Tuesday, 24 July 2012
Blame can wait... what we need are solutions that work.
If one were to listen to the Banks you would be hard pressed to understand why so many businesses are complaining about their reluctance to support them and, that if they do, are only willing to do so on the most penal terms. ‘We have money and we want to lend’ is the oft repeated dictum but the reality on the ground seems to be very different.
In today’s reality those deemed to be worthy of support either don’t need it or, as is the case with a growing number of businesses, don’t want it. On the other hand those who do require their support are disqualified simply because they do. Lewis Carroll would have been proud of the situation we have created and would, perhaps, have nominated the Queen of Hearts as the next Governor of the Bank of England.
In today’s world the first thing one seems to be required to do is to determine ‘who is to blame’. The Banks for creating the mess in the first place? Is it the government for lacking in leadership? Is it the economic incompetence of the previous government? Perhaps, it is The Bank of England and the regulatory authorities? The press and a variety of economic commentators for persistently, and consistently, undermining confidence? Possibly, even, the reluctance of businesses that can invest in the future simply stockpiling cash while they sit on their hands waiting for someone else to blink? I think I can save a great deal of time, to a lesser or greater extent it is all these although, actually, blame can wait. What we need are solutions that work.
Given the recent banking crisis few, if any, would argue for an unregulated orgy of lending but what is required is a source of lending that can be accessed by growing small and medium sized business that doesn’t attract penal rates of interest or the need to put forward their ‘first born’ by way of guarantee. We also need a process in which decision making is transparent, fair and timely. Too many businesses are being required to go through opaque drawn out processes costing them time and money before being told that they have been successful, or worse, unsuccessful.
Whilst I do not share the more extreme views of the ‘doom and gloom brigade’ I strongly believe that the economy needs an injection of growth. There are a number of measures that can be taken but one must be to deliver more financial support for small and medium sized businesses. Delivered with care encouraging sensible lending to this sector will enable it to flourish whilst simultaneously delivering the economic growth we need. The government, the regulators and the banks were quick enough to get round the table when the latter needed support it is about time they sat down and sorted things for the rest of us.
In today’s reality those deemed to be worthy of support either don’t need it or, as is the case with a growing number of businesses, don’t want it. On the other hand those who do require their support are disqualified simply because they do. Lewis Carroll would have been proud of the situation we have created and would, perhaps, have nominated the Queen of Hearts as the next Governor of the Bank of England.
In today’s world the first thing one seems to be required to do is to determine ‘who is to blame’. The Banks for creating the mess in the first place? Is it the government for lacking in leadership? Is it the economic incompetence of the previous government? Perhaps, it is The Bank of England and the regulatory authorities? The press and a variety of economic commentators for persistently, and consistently, undermining confidence? Possibly, even, the reluctance of businesses that can invest in the future simply stockpiling cash while they sit on their hands waiting for someone else to blink? I think I can save a great deal of time, to a lesser or greater extent it is all these although, actually, blame can wait. What we need are solutions that work.
Given the recent banking crisis few, if any, would argue for an unregulated orgy of lending but what is required is a source of lending that can be accessed by growing small and medium sized business that doesn’t attract penal rates of interest or the need to put forward their ‘first born’ by way of guarantee. We also need a process in which decision making is transparent, fair and timely. Too many businesses are being required to go through opaque drawn out processes costing them time and money before being told that they have been successful, or worse, unsuccessful.
Whilst I do not share the more extreme views of the ‘doom and gloom brigade’ I strongly believe that the economy needs an injection of growth. There are a number of measures that can be taken but one must be to deliver more financial support for small and medium sized businesses. Delivered with care encouraging sensible lending to this sector will enable it to flourish whilst simultaneously delivering the economic growth we need. The government, the regulators and the banks were quick enough to get round the table when the latter needed support it is about time they sat down and sorted things for the rest of us.
Monday, 9 July 2012
Business people ask for little other than to be able to operate on ‘a level playing field’
Over the years I have noticed an increase in the impact of holidays, sporting events and other national celebrations on doing business in the UK. Come Easter it seems as though someone has fired a gun and then, as a nation, we metaphorically prepare to pack our buckets and spades. This year, though, we are experiencing the phenomena ‘with bells on’. An additional bank holiday, the Euros, the Olympics followed by the Paralympics added to the usual menu of Wimbledon, the ever growing number of cricket matches and so on.
What the impact of all this is depends very largely upon who you ask. The more optimistic will argue that all this activity encourages people to stay at home and spend their money here rather than on one of the Costas or some Greek Island. At the other extreme those with a somewhat curmudgeonly disposition might argue that all this jollity is more likely to result in hell and damnation raining down upon us all. If you work for Transport for London I guess it’s an opportunity to threaten strike action unless their employer’s handover payments additional to already agreed overtime rates.
For most employers the only choice is to manage the impact as best they can within the confines of the already penal legislation governing employment. No one seems to be too concerned as to how all this affects them and now, joy of joys, we find that they are also required to compensate staff struck down by disease or injury, whatever the cause, whilst they are on holiday. Goodness knows what those dear people in Brussels will think up next.
Actually I enjoy all these supporting occasions as much as the next man, and it was a delight to take part in the Diamond Jubilee celebrations, but I do strongly believe that we need to consider the impact of all this on small businesses in particular. Business people, and I don’t mean the greedy few that are regularly featured by the national press as being representative of the business community, ask for little other than to be able to operate on ‘a level playing field’.
Our competitors in other parts of the world look upon our employment laws with incredulity, the Americans simply do not comprehend how businesses on ‘this side of the pond’ can afford to allow such generous holiday entitlements. Nonetheless I am not arguing that entitlements be reduced, just that the employers obligation to compensate staff for being sick whilst on holiday be wiped from the legislation. It is, frankly, nonsense.
What the impact of all this is depends very largely upon who you ask. The more optimistic will argue that all this activity encourages people to stay at home and spend their money here rather than on one of the Costas or some Greek Island. At the other extreme those with a somewhat curmudgeonly disposition might argue that all this jollity is more likely to result in hell and damnation raining down upon us all. If you work for Transport for London I guess it’s an opportunity to threaten strike action unless their employer’s handover payments additional to already agreed overtime rates.
For most employers the only choice is to manage the impact as best they can within the confines of the already penal legislation governing employment. No one seems to be too concerned as to how all this affects them and now, joy of joys, we find that they are also required to compensate staff struck down by disease or injury, whatever the cause, whilst they are on holiday. Goodness knows what those dear people in Brussels will think up next.
Actually I enjoy all these supporting occasions as much as the next man, and it was a delight to take part in the Diamond Jubilee celebrations, but I do strongly believe that we need to consider the impact of all this on small businesses in particular. Business people, and I don’t mean the greedy few that are regularly featured by the national press as being representative of the business community, ask for little other than to be able to operate on ‘a level playing field’.
Our competitors in other parts of the world look upon our employment laws with incredulity, the Americans simply do not comprehend how businesses on ‘this side of the pond’ can afford to allow such generous holiday entitlements. Nonetheless I am not arguing that entitlements be reduced, just that the employers obligation to compensate staff for being sick whilst on holiday be wiped from the legislation. It is, frankly, nonsense.
Wednesday, 6 June 2012
Hertfordshire has an enormous number of great businesses and community leaders who make a formidable team
On very rare occasions a plan comes together providing results which are way beyond one’s expectations, our ‘Inspiring Hertfordshire’ awards evening was just one such occasion. Not simply a ‘sold out’ event at a great venue, or a get together of friends and colleagues, it was so much more; it was to my mind an outstanding evening that will live in the memory for some time to come. Sure it was a great spectacle and everything you would want an event to be but, the real ‘icing on the cake, was that it was an evening spent amongst many truly inspirational business people and community leaders all of whom had contributed so much to the fabric of the county.
Naturally those who won awards were ecstatic but the atmosphere was really generated by the generosity of spirit of those other finalists who, despite their disappointment, joined in the celebration. It was they who embodied all that is good about living and working in Hertfordshire. Personally I wish we could have shortlisted all the entrants but sadly the venue was simply not big enough.
In praising all those who entered the awards I must not forget our wonderful sponsors. If a better group of people to work with exists I am yet to meet them. To put on an event of this nature and complexity and involving significant costs always causes concerns. Will we attract enough entrants? Will the entrants be of sufficient quality? Will it be a financial disaster?
As pointed out above the numbers and quality of the entrants was everything, and more, than we hoped. Awards are generally judged by the quality of the winners, for me the ‘Inspiring Hertfordshire’ awards should be judged on the quality of the entries that did not reach the shortlists. I imagine many of them will be wondering what they have to do to get the recognition they truly deserve.
As for concerns about the financial performance of the event they were soon dissipated by our remarkable sponsors and patrons. From day one they were on side supportive and helpful beyond words, my heartfelt thanks to them all. Porsche Hatfield who supplied the venue could not have been more accommodating and, as you might expect from such a marque, demonstrated professionalism of the highest order. Our headline sponsors, Exemplas and the University of Hertfordshire showed no hesitation in demonstrating their support which brought not only reputational benefits but also much reduced our other concerns.
Attracting a number of other high profile sponsors from the Hertfordshire business world: Johnson Matthey, Tesco, Kiss Communications, Simplyhealth, Veolia Water, Ashridge Business School, Breeze & Wyles Solicitors LLP, Pearldrop Video Productions, Guinea Fowl Creative, and Accounting Academy Partnership; not only enabled us to produce an event of outstanding quality but also contributed enormously towards attracting a high quality field. Of course the awards were not just about business they also sought to recognise some of the great work being done by social enterprises and community leaders.
My special thanks to County Councillor and Leader of Stevenage Borough Council, Sharon Taylor, whose sponsorship through her locality budget not only provided tangible support but also contributed to the overall aims of the ‘Inspiring Hertfordshire’ campaign and will I am sure provide encouragement to all those who selflessly support important causes in the county.
Before finishing it would be totally remiss of me if I were to forget the professional contribution of Pump House Productions, Richmond Caterers and, of course, the excellent Steve Folland from Jack FM. Their cooperative professionalism in working with the Chamber’s staff, especially Jill Coggins and Jodie Reid, was absolutely key to the success of the evening.
Should anyone think that I have written this simply to crow about a great success they would be wrong, my purpose is to demonstrate that despite the constant output from various doom merchants Hertfordshire has an enormous number of great businesses and community leaders whose combined parts make a formidable team. My thanks to all who were involved but particularly to all those who entered I hope we will see you all at ‘Inspiring Hertfordshire 2013’.
Oh, and to all those who still think I am crowing, OK I confess, but I truly am extremely proud to be associated with all those concerned.
Naturally those who won awards were ecstatic but the atmosphere was really generated by the generosity of spirit of those other finalists who, despite their disappointment, joined in the celebration. It was they who embodied all that is good about living and working in Hertfordshire. Personally I wish we could have shortlisted all the entrants but sadly the venue was simply not big enough.
In praising all those who entered the awards I must not forget our wonderful sponsors. If a better group of people to work with exists I am yet to meet them. To put on an event of this nature and complexity and involving significant costs always causes concerns. Will we attract enough entrants? Will the entrants be of sufficient quality? Will it be a financial disaster?
As pointed out above the numbers and quality of the entrants was everything, and more, than we hoped. Awards are generally judged by the quality of the winners, for me the ‘Inspiring Hertfordshire’ awards should be judged on the quality of the entries that did not reach the shortlists. I imagine many of them will be wondering what they have to do to get the recognition they truly deserve.
As for concerns about the financial performance of the event they were soon dissipated by our remarkable sponsors and patrons. From day one they were on side supportive and helpful beyond words, my heartfelt thanks to them all. Porsche Hatfield who supplied the venue could not have been more accommodating and, as you might expect from such a marque, demonstrated professionalism of the highest order. Our headline sponsors, Exemplas and the University of Hertfordshire showed no hesitation in demonstrating their support which brought not only reputational benefits but also much reduced our other concerns.
Attracting a number of other high profile sponsors from the Hertfordshire business world: Johnson Matthey, Tesco, Kiss Communications, Simplyhealth, Veolia Water, Ashridge Business School, Breeze & Wyles Solicitors LLP, Pearldrop Video Productions, Guinea Fowl Creative, and Accounting Academy Partnership; not only enabled us to produce an event of outstanding quality but also contributed enormously towards attracting a high quality field. Of course the awards were not just about business they also sought to recognise some of the great work being done by social enterprises and community leaders.
My special thanks to County Councillor and Leader of Stevenage Borough Council, Sharon Taylor, whose sponsorship through her locality budget not only provided tangible support but also contributed to the overall aims of the ‘Inspiring Hertfordshire’ campaign and will I am sure provide encouragement to all those who selflessly support important causes in the county.
Before finishing it would be totally remiss of me if I were to forget the professional contribution of Pump House Productions, Richmond Caterers and, of course, the excellent Steve Folland from Jack FM. Their cooperative professionalism in working with the Chamber’s staff, especially Jill Coggins and Jodie Reid, was absolutely key to the success of the evening.
Should anyone think that I have written this simply to crow about a great success they would be wrong, my purpose is to demonstrate that despite the constant output from various doom merchants Hertfordshire has an enormous number of great businesses and community leaders whose combined parts make a formidable team. My thanks to all who were involved but particularly to all those who entered I hope we will see you all at ‘Inspiring Hertfordshire 2013’.
Oh, and to all those who still think I am crowing, OK I confess, but I truly am extremely proud to be associated with all those concerned.
Tuesday, 24 April 2012
There are times in history that call for great leadership. I would suggest that now is one of them
In challenging times when our focus should be on key issues it is depressing to see that nationally, our so called leaders, consider that reflecting upon who ate what, where and with whom carries greater importance than encouraging growth in our economy. There are times in history that call for great leadership I would suggest that now is one of them. We do not need a great debate on hot pies, queues at petrol stations and the usual party political tit for tat. It is time that national leaders of all parties started to ‘man up’ and begin doing what is best for the country.
That times are difficult is beyond dispute but thankfully, despite the seemingly endless shenanigans of the Westminster village, many businesses continue to display admirable levels of resilience and are ‘turning the corner’. It is a great shame that they are not receiving the support they need to fully capitalise on their efforts. I am not talking about handouts, I know there is very little public money available, what we need is a range of clear strategies focused on encouraging a competitive business environment. In any event spending vast sums of public money rarely has a long term effect, one has only to go back to Tony Blair’s ‘education, education, education’ response when asked about his main priorities. Businesses were complaining of difficulties in recruiting skilled staff then and, 15 years and billions of pounds later, it still has difficulty recruiting people with appropriate skills.
Leadership requires conviction and an ability to overcome difficult challenges. Arguably our lack of leadership is illustrated in our inability to overcome what might be described as the ‘too difficult’ strategy issues, take for the example of a lack of an aviation policy. I recognise that this is a controversial issue but, if we are to remain a major trading nation, we must be able, conveniently, to visit our trading partners in other parts of the world. We also need them to visit us. In the past forty years, while many of our competitors have moved forward with numerous major developments, we have built a couple of terminal buildings and increased landing fees making us one of the most expensive places on earth for business people to visit.
Whether it be resolving issues concerning skills, international travel, roads, railways, housing, high speed broadband or a plethora of other infrastructure issues it seems that we have become followers not leaders. We have become bickerers and point makers more interested in promoting narrow vested interests and proving points rather than achieving things. Perhaps, the recently introduced planning regulations will improve the situation, we shall see.
There are numerous other ‘too difficult issues’ many of which are exacerbated by the speed of change in our modern world, they nonetheless must be addressed if we are to maintain our position as a leading trading nation. To paraphrase Einstein it is a sign of insanity to keep doing things the same way expecting a different outcomes, had he been alive today he might well have warned about the dangers of pursuing similar strategies whilst the environment is changing around you.
What might be seen as political rough and tumble in Westminster amongst the national press has consequences elsewhere. I am frankly not concerned about the dietary whims of David Cameron, Ed Milliband and their dinner guests, I am even less interested in their ongoing games. We have overcome a number of challenges in recent years but there will inevitably be more to follow. We do not have time to mess about, we need to address important issues not waste time satisfying the self indulgent mores of the Westminster Village. It needs to change the way it does business, and fast.
That times are difficult is beyond dispute but thankfully, despite the seemingly endless shenanigans of the Westminster village, many businesses continue to display admirable levels of resilience and are ‘turning the corner’. It is a great shame that they are not receiving the support they need to fully capitalise on their efforts. I am not talking about handouts, I know there is very little public money available, what we need is a range of clear strategies focused on encouraging a competitive business environment. In any event spending vast sums of public money rarely has a long term effect, one has only to go back to Tony Blair’s ‘education, education, education’ response when asked about his main priorities. Businesses were complaining of difficulties in recruiting skilled staff then and, 15 years and billions of pounds later, it still has difficulty recruiting people with appropriate skills.
Leadership requires conviction and an ability to overcome difficult challenges. Arguably our lack of leadership is illustrated in our inability to overcome what might be described as the ‘too difficult’ strategy issues, take for the example of a lack of an aviation policy. I recognise that this is a controversial issue but, if we are to remain a major trading nation, we must be able, conveniently, to visit our trading partners in other parts of the world. We also need them to visit us. In the past forty years, while many of our competitors have moved forward with numerous major developments, we have built a couple of terminal buildings and increased landing fees making us one of the most expensive places on earth for business people to visit.
Whether it be resolving issues concerning skills, international travel, roads, railways, housing, high speed broadband or a plethora of other infrastructure issues it seems that we have become followers not leaders. We have become bickerers and point makers more interested in promoting narrow vested interests and proving points rather than achieving things. Perhaps, the recently introduced planning regulations will improve the situation, we shall see.
There are numerous other ‘too difficult issues’ many of which are exacerbated by the speed of change in our modern world, they nonetheless must be addressed if we are to maintain our position as a leading trading nation. To paraphrase Einstein it is a sign of insanity to keep doing things the same way expecting a different outcomes, had he been alive today he might well have warned about the dangers of pursuing similar strategies whilst the environment is changing around you.
What might be seen as political rough and tumble in Westminster amongst the national press has consequences elsewhere. I am frankly not concerned about the dietary whims of David Cameron, Ed Milliband and their dinner guests, I am even less interested in their ongoing games. We have overcome a number of challenges in recent years but there will inevitably be more to follow. We do not have time to mess about, we need to address important issues not waste time satisfying the self indulgent mores of the Westminster Village. It needs to change the way it does business, and fast.
Tuesday, 21 February 2012
We have some wonderful High Streets which we need to support - We all have a part to play!
Reports from eminent sources proffering views about what ails our High Streets and which ones have the most vacant premises have been abundant recently, but few have done more than regurgitate the same old issues. Most have been met with the usual hand wringing, finger pointing and the accompanying blame games that are played out in response to such reports. With perhaps the exception of the Mary Portas report, few if any have provided solutions. So what’s to be done?
No one in their right mind would profess to have all the answers to such a complex issue and in a short article I am certainly unable to provide more than a few pointers to gently stir the debate. However, it seems to me that to succeed in developing successful, financially sustainable High Streets one has to presuppose that we all, retailers, central government, local authorities and the local community alike, do not merely want our High Streets to be successful but are also prepared to play their part. Without their explicit and active support no improvement will be achieved. Each and every party has to play its part and be willing to do what it takes.
Central Government could start by increasing business rate relief for smaller retailers and by encouraging local authorities to introduce local retail plans. Local Authorities might look at introducing ‘managed retail space’ at low ‘easy in easy out’ rents; something that might also have some impact on the unsustainable rent increases many small retailers seem to be facing; and, above all, review what they can do to improve the ‘shopping experience’ of customers. In the longer term they must also develop imaginative local retail plans that go way beyond maintaining the status quo and which include a thorough review of parking policies. Simply putting saving our High Streets in ‘the too difficult tray’ and forgetting about them is not an option.
High Streets need to be attractive, vibrant places they are also, like any other business areas, subject to changing trends and practices; this reality has to be reflected in any planning, it also needs to be accepted by retailers and other interested stakeholders. Today’s customer demands, convenience, quality and high service levels, all at the right price, it is essential that this is recognised by all concerned. Today’s customer has more choice than at any time in our history as time goes by the changes brought about by the ‘internet age’ will not diminish.
So to the other important player the local community or, if you prefer, the customers, what is their role in all this. Arguably, they are simply there to be served according to their needs and I for one would defend to the death their right to choose but, ultimately, without their patronage our High Streets are not sustainable. To coin a phrase they need to ‘use them or lose them’.
We have some wonderful High Streets which, if my supposition is correct we would all like to see maintained and sustained. Collectively we need to support them, we all have a part to play.
No one in their right mind would profess to have all the answers to such a complex issue and in a short article I am certainly unable to provide more than a few pointers to gently stir the debate. However, it seems to me that to succeed in developing successful, financially sustainable High Streets one has to presuppose that we all, retailers, central government, local authorities and the local community alike, do not merely want our High Streets to be successful but are also prepared to play their part. Without their explicit and active support no improvement will be achieved. Each and every party has to play its part and be willing to do what it takes.
Central Government could start by increasing business rate relief for smaller retailers and by encouraging local authorities to introduce local retail plans. Local Authorities might look at introducing ‘managed retail space’ at low ‘easy in easy out’ rents; something that might also have some impact on the unsustainable rent increases many small retailers seem to be facing; and, above all, review what they can do to improve the ‘shopping experience’ of customers. In the longer term they must also develop imaginative local retail plans that go way beyond maintaining the status quo and which include a thorough review of parking policies. Simply putting saving our High Streets in ‘the too difficult tray’ and forgetting about them is not an option.
High Streets need to be attractive, vibrant places they are also, like any other business areas, subject to changing trends and practices; this reality has to be reflected in any planning, it also needs to be accepted by retailers and other interested stakeholders. Today’s customer demands, convenience, quality and high service levels, all at the right price, it is essential that this is recognised by all concerned. Today’s customer has more choice than at any time in our history as time goes by the changes brought about by the ‘internet age’ will not diminish.
So to the other important player the local community or, if you prefer, the customers, what is their role in all this. Arguably, they are simply there to be served according to their needs and I for one would defend to the death their right to choose but, ultimately, without their patronage our High Streets are not sustainable. To coin a phrase they need to ‘use them or lose them’.
We have some wonderful High Streets which, if my supposition is correct we would all like to see maintained and sustained. Collectively we need to support them, we all have a part to play.
Friday, 21 October 2011
Confidence is the key!
When preparing a briefing for a visiting dignitary recently I was reminded that, despite the seemingly continuous onslaught of bad news, we lived and worked in an area which had a great deal going for it. Certainly times are tough and I acknowledge that some people will be feeling the effects more than others. Nonetheless, there are a great many things to be grateful for which, among other reasons, is presumably why so many companies have decided to invest here.
Certainly it can be argued that a number of our large companies have traditional ties to the area and are therefore more likely to remain, but that ignores the fact that their principle decision makers are no longer UK based and in an age of greater mobility they have other options. That they choose to stay here must be due to factors beyond geographical longevity.
Location and local amenities are obviously key factors and surely on that count there can be few places that are better situated. Close to three international airports. Convenient for the UKs road network. Access to quality education. Adjacent to some wonderful countryside and on London’s doorstep with access to national and European rail networks. The ability to recruit a skilled workforce with its roots in a number of the key sectors is clearly a condition that is non-negotiable.
When one aggregates these features and combines them with the existence of a reliable, broadly based supply chain I can see no reason why the area would not be the ‘location of choice’ for any business wishing to invest in the UK. True I am somewhat biased but I truly believe that the facts speak for themselves.
My point? It’s simple we continue to be bombarded with bad news by a national media that has turned being a gloom merchant into something of a national sport. How can we sensationalise a situation to cast those involved or the circumstances surrounding them in the worst possible light? As the tired old phrase goes ‘good news is no news’.
True, the prevailing trends are not what we would wish them to be. True, the global omens leave little room for optimism. And true, it may be some little time before we sense that relief is on its way. The fact, though, is that we have a number of fantastic businesses locally which, if properly supported and cherished, will play a key role in pulling us out of the doldrums. Confidence is the key, it is essential ingredient in developing the recovery While there may be little cause for dancing in the streets we should not be overdoing the gloom bit either.
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