FINANCE How to get paidNETWORKINGWhat’s so scary?EAST MIDLANDSLEGAL REVIEWOn the upwww.blmgroup.co.ukWWW.EASTMIDLANDSBUSINESSLINK.CO.UKNOVEMBER 2015EAST MIDLANDS LEADING BUSINESS E-MAGSUCCESSIONPLANNING -FIT FOR THEFUTURE?SUCCESSIONPLANNING -FIT FOR THEFUTURE?LinkingbusinesstogetherEast Midlands Business Link has been bringing businesses together through itsonline pages and we’re now offering even more chances to network andcreate new relationships with a host of special events – and there are numerous sponsorship opportunities to help promote your brand!Round TablesBringing together leading names from local businesses, our round table events debate the latest hottopics. By sponsoring the event you can decide on the topic and help shape the guest list to ensurerelevance. The resultant debate will appear in our pages.Breakfast EventsEast Midlands Business Link's breakfast events present topical and incisive discussion. A panel ofexperts offer their views on business matters in front of an informed and interested audience –alongside plenty of opportunities to network! Sponsors of the event receive access to the delegate list as well as extensive pre- and post-event coverage.AwardsHighlighting the best of local business, there are myriad sponsorship opportunities atEast Midlands Business Link's awards evenings. Bringing together guests from across the region,sponsoring a category or even the entire event will ensure exceptional exposure for your business! These events are also a great place to entertain and welcome distinguished guests.Business Link is renowned as the voice of the East Midlands business scene. By partnering with us at these special events you can take advantage of our strong reputation and enjoy exceptional exposure for your brand!Connectwith us today to see what we can do for your business...EDITOR’S NOTESWhisper it... but the deals market might be on its way back to pre-recessionary levels.That's what I heard at a round table this month, and you can read all about it in this month'sissue.Paul Bevan, one of the leading local dealmakers, told me: "It's intriguing for us - there are awhole new wave of owners looking to sell, but there are only so many buyers, and so themarket has become 'clogged' in just about every single sector. We've been talking to ourinternational colleagues, and when we expected activity to become a little quieter over thesummer - it didn't. Everyone saw a pick up."Bevan added: "I don't see the market for transactions disappearing at all - quite theopposite, in fact - we could quite easily see levels and values reach that 2008 high. There aredifferent buyers out there."This is great news for the likes of Paul, but during the recession I spoke to a many in thedeals market who said they didn't really want the market to return to the heady days of 2005-2008. However, it's different this time around, says Paul. Buyers - and sellers - are moresavvy, and a lot of the money coming to finance deals is coming from banked cash, ratherthan loans, which were frankly over-ambitious.A healthy deals market is great news for the East Midlands economy, and if Paul's rightand that market doesn't become overheated, we can all look forward to an exciting couple ofyears..Sam MetcalfEditorA big dealContentsNOVEMBER 2015Latest News 6The latest news from the regionDeals News8The latest news from the dealmakers around the regionProperty News10All the latest from the property sectorAppointments12Who’s moving where Manufacturing News 14News and views from around the East MidlandsLaw16Retailers need to be aware of imminent changes to theConsumer Rights Act, which Ian Lewis, senior corporateand employment law consultant at Bray & Bray, says havebeen the most significant changes for years.Breakfast Event17The legal sector in the East Midlands is engaged in a ‘waron talent’, according to the managing partner of one theregion’s leading law firms.Family Business20A digital mind-set, entrepreneurial culture and competitivejobs market are combining to revive interest in youngergenerations in taking on family businesses, according toKPMG.Coaching 22Why your team is not engaged by Stuart Ross of HighGrowth GlobalNetworking 24What’s scary about networking? By Hannah Wellings, Brayand Bray SolicitorsThe Cloud 26Business advisory and accountancy firm PKF Cooper Parrywill be hosting a free seminar next month for those whowant to maximise the Cloud for their business.Finance 27Finance without the kerfuffle: Five steps to help secureyour business loan by Ian Borley, Senior Partner, KPMGEast MidlandsFinance 28Avoiding the risks of not getting paid by Mary Ravenscroft,Midlands regional manager for AtradiusMarketing 30Want award-winning PR results? - Start winning awards byGreg Simpson, owner, Press for Attention PRRound Table 31When is the right time to sell your business, and how doyou go about it? Our latest round table, sponsored byMazars, asked business owners and the advisers.Reader Offer 34Business networking group Vistage is set to host anotherof its popular open days at the Ricoh Arena in Coventry onThursday 12th November, from 8am until 4pm.Motoring 36Okay, so it only happens once every two years, but theFrankfurt Motor Show is a significant date for us motoringjournalists. It’s one of the biggest of its kind and revealswhat we can expect to see in the region’s showrooms incoming months. It’s certainly a day when journalists andour photographers earn their money as touring the entireshow, just once, clocked up around nine miles in shoeleather, but here’s our low down on some of the latestmodels and concept cars. Out of Office40All the leisure sector news from the last month3610EditorSam Metcalfs.metcalf@blmgroup.co.ukAccounts & SubscriptionsAngela Sharmanaccounts@blmgroup.co.ukTel: (01472) 310301 Fax: (01472) 310311Design & ProductionGary Jorgensen, Mark Cassonstudio@blmgroup.co.ukTel: (01472) 310304Fax: (01472) 310314E-Mail:eastmidlands@blmgroup.co.ukPublisherHaychart Ltd, t/a Business Link Magazine Group,Armstrong House, Armstrong Street, Grimsby, N.E. Lincs., DN31 2QE.All rights reserved. No part of this publicationmay be reproduced, transmitted, photocopied,recorded or otherwise without expresspermission of the copyright holder, for whichapplication should be addressed first to thepublisher. While every reasonable care is taken,neither the publisher nor its participating agentsaccept liability for loss or damage to prints,colour transparencies, negatives or othermaterial of whatever nature submitted to thispublication. The views expressed in thispublication are not necessarily the views of thoseheld by the publisher.@BLMEastMidlandsBLMEastMidlandsSHUTTERSTOCK.COM/PALTO GENERAL NEWSEast Midlands Business Link www.eastmidlandsbusinesslink.co.uk6Lettings agency on themove in NottinghamA Nottinghamshire lettings agency has purchased afranchise of Belvoir Lettings and moved to a City Centrelocation with funding provided by Barclays.Nottingham Letting has purchased the franchise forNottingham West covering Hucknall and Sherwood.The new offices are in Market Street, Nottingham.The business currently employs six people.Franchisee director Lloyd Rumbold said: “We wantedto expand our services across Nottinghamshire and thislatest franchise will enable us to do that. We aredelighted to have secured our new premises which offera great environment for our staff and clients alike and agreat platform on which we can develop the business.”Alan Mele, senior business manager at Barclays inNottingham said: “The business has built up a goodreputation in the Newark and Mansfield area and I amdelighted we have been able to assist them with thisexpansion.”‘Overlooked’ mid-market firms essential to East Midlandseconomic recovery - gareth singleton picThe high-performing but overlooked UK mid-market must be at the heart of Government plans to rebalance the economy, according toaccountancy and business advisory firm, BDO. East Midlands mid-market firms are particularly putting in a strong performance even exceedingUK mid-market growth.New figures reveal that the UK’s mid-sized businesses (firms with a revenue between £10m to £300m) are a thriving area of the UK economy,growing turnover by nearly 55 per cent in the last five years (from £0.65 trillion to £1.02 trillion). In the East Midlands, turnover for mid-marketfirms grew even quicker at 62 per cent over the last five years reaching nearly £51bn last year.Over the last Parliament the UK mid-market has outstripped the FTSE 100 in many key areas of performance. In terms of profitability, the UK’smid-sized firms can boast profits up 110 per cent compared to a FTSE 100 shrinkage of three per cent. And on employment, jobs growth of theUK mid-market today is almost three times faster than that of the current FTSE 100. The UK mid-market now employs 50 per cent more peoplethan it did in 2010 (6.1 million jobs in 2014/15). In the East Midlands, mid-market firms also grew faster than the national average employing 58%more people than they did in 2010.Gareth Singleton, partner and head of BDO in the East Midlands, said: “Now that we are on the road to recovery, it is essential that we do not repeatthe mistakes of the past and perpetuate an unbalanced economy too heavily reliant on one sector or region.“The Government has started tackling the issues and plans around devolving powers to cities and infrastructure investment are all very welcome.More can be done though, and encouraging Britain’s mid-market has to be at the heart of Government plans. Yet currently the mid-market falls into apolicy and profile gap – too big to benefit from the policies aimed at small businesses and too small to get the attention lavished on FTSE firms.“We would like to see a ‘new economy’ that harnesses the entrepreneurial spirit of UK businesses and puts the mid-market front and centre of theUK’s growth plans.“Germany’s Mittelstand is rightly lauded in its own country and it’s time our own ‘Brittelstand’ got the same recognition”.Trinity Mirror to take control ofEast Mids newspapersTrinity Mirror has announced it is to make a bid to take over Local World, thecompany which owns the Derby Telegraph, Leicester Mercury and Nottingham Post.Trinity Mirror, which already own around 20 per cent of the company, will offer£154.4m, valuing Local World at around £220m. Trinity Mirror says the move willdeliver “cost synergies” – or savings – of around £10-12m in the second year ofownership.Simon Fox, chief executive, Trinity Mirror, said: “This is a good day for local media.Local World is a business we know and respect and by combining it with Trinity Mirrorwe will create an organisation of scale, with the talent and financial capacity to investand adapt to the rapidly changing media landscape. It is a vote of confidence in localpress and its future.”David Montgomery, group CEO, Local World, said: “Local World was founded threeyears ago with a clear vision to reinvigorate regional media with an unrelenting focuson our content, audience and advertisers. I am proud of what we have achieved. LocalWorld is full of energy and talent and Trinity Mirror is acquiring a vibrant business witha strong future. I want to take this opportunity to thank everyone who has made LocalWorld the success it is today.”Local World is one of the largest regional news publishers in the UK and wasestablished at the end of 2012 through the acquisition of the regional publishing assetsof Northcliffe Media and Iliffe News & Media. The company publishes 83 printpublications: Gala Coral sells bingo halls for £241mGala Coral, the Nottingham-based betting and gaming company, has sold its Gala Bingodivision to Caledonia Investments for £241 in a move that paves the way for its proposedmerger with Ladbrokes.The deal includes the sale of 130 Gala Bingo halls, which will continue to trade under theGala brand upon completion.Carl Leaver, chief executive of Gala Coral, said: “We are very pleased to have agreed thesale of Gala Retail, following a competitive process. The sale is another transformative step forGala Coral Group, following the turnaround of the business over the past few years. We wishthe Gala Retail team all the very best for the future and believe the business will continue tothrive under its new owners. Gala Coral Group remains focussed on growing and developingour retail bookmaking and online businesses, and concluding the proposed merger withLadbrokes.”Duncan Johnson, Caledonia’s head of unquoted investments, said: “Gala Bingo is wellknown to Caledonia’s Unquoted Investments team and we are delighted to be backing SimonWykes and his team in the next chapter of its history. Its defensive, enduring business model,which delivers strong cash generation and dividend yield, fit ideally with the investmentcriteria sought by Caledonia for its unquoted portfolio and complements our other assets in the unquoted pool. As with our other unquoted investments,Gala Bingo will pay an attractive yield from inception.”GENERAL NEWS7www.eastmidlandsbusinesslink.co.uk East Midlands Business Link Baker Tilly rebrandsas RSM - rsm picBaker Tilly in the UK has adopted the nameRSM, uniting under a single common brand withRSM audit, tax and consulting firms across theworld.The new RSM logo and brand has been rolledout in all of the firm’s 35 UK locations includingLeicester and Nottingham, as well as across theentire RSM network, comprising 37,500 people in730 offices across more than 110 countries.RSM International is the seventh largest globalnetwork of independent audit, tax and consultingfirms. Last year, it was the fastest growing top 10global network posting an 18 per cent increase inrevenue to $4.4bn for the year ending 31December 2014.Simon Hart, regional managing partner for RSMin the Midlands said: “I’m delighted that our officesacross the Midlands are playing their part in theglobal launch of the new RSM brand in the UK.The rebrand will strengthen our market positionwithin the region by providing greater globalexpertise which, in turn, will further help ourclients realise their potential for growth.“Despite the change of name, our clients can bereassured that we are committed to staying true toour roots and remain dedicated to our local clientbase within the region.”S&A Foods goes under with the loss of 300 jobsS&A Foods,the Derby-based Asian food manufacturer, has slipped into administration with the loss of 300 jobs.As we reported last week, S&A had already laid off 190 jobs before the weekend. Now, all workers have been laid off, and Deloitte has beenappointed administrator.The company was run by Perween Warsi. She said: “After 28 years, we deeply regret that Asda has decided to move the supply of chilled, ethnicready meals to another business.“We have worked desperately hard to try and save the business in a very short space of time, but, having explored many different options andrescue packages, we have no alternative but to appointment administrators.”Deloitte said a “very small number” of staff will be kept on to wind down operations.Deals market can return to 2008high, says BevanThe deals market is making a strong return in the East Midlands and could be ontrack to return to the heights seen before the last recession, according to one localdealmaker.Speaking at an East Midlands Business Link round table event, Paul Bevan fromMazars said that now was a good time to look to sell a business. “There’s a bit moreknowledge out there about what’s needed to get the best price for a business,” hesaid.Bevan said that, in his experience, more and more business owners are now lookingto sell. He added: “It’s intriguing for us – there are a whole new wave of ownerslooking to sell, but there are only so many buyers, and so the market has become‘clogged’ in just about every single sector. We’ve been talking to our internationalcolleagues, and when we expected activity to become a little quieter over the summer– it didn’t. Everyone saw a pick up.”Bevan added: “I don’t see the market for transactions disappearing at all – quite theopposite, in fact – we could quite easily see levels and values reach that 2008 high.There are different buyers out there. We’re seeing high levels of interest frominvestors in China and Japan for example.”DEALSEast Midlands Business Link www.eastmidlandsbusinesslink.co.uk8University of Nottingham contributes £1.1bn a year toeconomyThe University of Nottingham contributes £1.1bn a year to the UK economy and supports around 18,000 jobs across the countryaccording to a new report.Based on an independent assessment of economic impact by Oxford Economics; the report -‘The Economic Impact of TheUniversity of Nottingham’ – outlines the wider economic, social and cultural impact the University has on the city of Nottingham, theregion and the nation.According to the report, the University is one of the East Midlands’ most significant institutions, with 92 per cent of its workforceliving in the region, and one in every 24 jobs in Nottingham being reliant in some part on the University. The total economic impactgenerated across the East Midlands each year by the University is £781m.Councillor Nick McDonald, executive member for jobs, growth & transport at Nottingham City Council said: “The University ofNottingham’s global reach and incredible reputation overseas – as well as its quality both for teaching and research – is absolutelyfundamental to the city’s brand, and to attracting inward investment, supporting trade and developing our city’s cultural diversity.What the University has achieved in developing its overseas presence is remarkable, and it is one of the city’s key assets.”Alkane Energy setto go privateNottinghamshire power generator is set topass back into private hands after the companyissued a statement saying it was leaving the AIMmarket.Alkane is about to be bought by BarbicanBidco, which will take the company off the AIMmarket.A statement from Alkane said: “Alkaneshareholders are strongly recommended toaccept the Offer as the Cancellation willsignificantly reduce the liquidity andmarketability of any Ordinary Shares in respectof which acceptances of the Offer are notsubmitted and, accordingly, it is likely that thevalue of any such Ordinary Shares would besignificantly affected.”Purpose Media triggers deal forRevolver RevolverSouth Normanton-based website design and on-line marketing consultancy Purpose Mediahas bought Derby-based creative agency, Revolver Revolver out of administration.Founded in 2008, Revolver Revolver operated from Friar Gate Studios in Derby. A numberof cash flow issues arose simultaneously in September, leaving the owner, Chris Redshawhaving to close the business.Following discussions with the administrator, Bates Weston, Purpose Media has acquiredassets of the business including the trading name, website domain and recruited two keyemployees. Joining Purpose Media are Claudio Davanzo, now creative director, and leaddesigner Danny Painter.Purpose Media managing director Matt Wheatcroft said: “When I heard Revolver Revolverwas closing, I saw the opportunity to buy assets which would benefit our own strategicdevelopment. Adding creative expertise of such expert caliber to our list of services is a verynatural progression. It will benefit existing clients and help us win more new business.”He added: “With Claudio on board we will now be able to offer full creative services andtake on new projects that are related purely to design as well as offering an integrated serviceto our website clients to ensure our clients brand identities are memorable and wellpositioned.”DEALS9www.eastmidlandsbusinesslink.co.uk East Midlands Business Link Survive and SucceedCampaign gainsmomentum –despite Soubry snub The founder of a national campaign, which hasthe support of over 32,000 business leaders,aimed overturning the tax on directors’ dividendpayments says she is “saddened anddisappointed” that the Minister for Small Business,Industry and Enterprise, Anna Soubry MP, hasturned down an invitation to come and put forwardthe government’s case for small business success.Survive & Succeed – the Campaign forSuccessful SMEs was set up by Serena Humphrey,owner of Nottingham-based financial trainingcompany The F Word and launched on 10thSeptember at Hart’s in Nottingham. Since then,word has spread throughout the UK, with over32,000 signatories on a petition.Humphrey had invited MP Anna Soubry tospeak at the campaign’s next event on 26thNovember in Nottingham, but has received a letterfrom the MP rejecting the chance to explain thegovernment’s decision to tax directors’ dividends –which the campaign wants to overturn.Serena says: “We all really want to work withthe government to ensure that we can ensure thatthe business failure rate drops. The instantpopularity of the campaign has shown that there ismassive interest in scrapping the tax on dividendsand helping SMEs have a better chance ofsurviving.“It is therefore surprising, given its insistencethat SMEs are part of their 5-year plan, that theperson heading up this plan – a localNottinghamshire MP – can’t find time to come andspeak to worried business owners.”In a letter to Campaign HQ, MP Anna Soubrysaid: “The government has already responded toyour campaign by setting out the rationale for thetax changes. I do not have anything to add to thatresponse, tax policy being a matter for HMTreasure.“I appreciate your offer of a meeting.Unfortunately, I am unable to accept your invitation– as you will appreciate my diary is already heavilycommitted.”Next >