Archive - March, 2010

UK Faces Triple Challenge, states Tory MP at Bristol Chamber Annual Dinner

Tory MP David Davis

GWE Business West welcomed the Rt Hon David Davis MP as guest speaker to the Bristol Chamber of Commerce Annual Dinner 2010, which took place in Bristol on 25th March.

Hosted by Bristol Chamber of Commerce & Initiative President Michael Bothamley, the event attracted hundreds of business people, coming together to celebrate business across the region.

David Davis, who stood against David Cameron for the Tory Party leadership, served as Conservative Party Chairman and shadow Deputy Prime Minister. To many he is best known for resigning his seat and stepping down as shadow Home Secretary on a point of principle in 2008. He won the resulting by-election with a resounding 72% of the vote, and has since continued to campaign for civil liberties.

Commenting on the budget, Davis felt that it wouldn’t be the last budget this year, regardless of which political party came to power. He cautioned that a new parliament will be tough for whoever wins but that there is ‘enormous scope in the Government for greater efficiency’, with the opportunity to improve our Country significantly over the next decade.

‘Periods of pressure engender courage’ he said. Focusing on the theme of optimism, Davis stated that when things get tough, as a country, we are capable of incredible things. He gave the example of the UK transforming into the 4th biggest economy in the World following the ‘Winter of Discontent’ in 1978-79.

He touched on three key challenges he considers important to achieving a new era. These included the economy; where he noted that while relying too much on the financial sector, the manufacturing industry has been left to decline, contributing less than 1% to the economy in the last 10 years as compared to that of 10% by Germany.

Social mobility; the denial of opportunity to a whole generation of children born into poor families since 1970 has resulted in a waste of talent and an in-balance in education and job prospects. Finally, he touched upon our so-called ‘free’ society, in which he feels that freedom of speech and the right to a fair trial has been eroded. Davis calls for a new society that is ‘open, vigorous, fair’.

‘These three areas have eaten away at the heart of being British’ he said. He finished his speech with the rallying call to bring back ideas, innovation and invention to aid the economy. And to apply ‘courage and conviction to the job’ of steering the Country towards a better future.

Dr John Savage CBE, Managing Director at GWE Business West raised a Loyal Toast to the City and County of Bristol, remarking that Bristol and its surrounding regions are well placed to lead the way out of the recession, being the most successful City outside of London and a ‘great place for opportunity’.

Councillor Christopher Davies responded that the region was often the first choice for relocating businesses and had become a world class tourist destination. He credited this to the ‘focus, dedication and foresight of its many businesses.’

Sponsored by Continental Airlines, Lloyds TSB and Smith & Williamson, the evening ended on a high with a prize draw of two return tickets to New York. Presented by Bob Schumacher, Senior Director at Continental Airlines, the coveted prize was won by Rupert Cox, Chief Executive of Somerset Chamber of Commerce. 

£895 was raised from the evening’s collection, which will go to the President’s chosen charity, The Prince’s Trust, which aims to help the lives of young people in the South West.

www.gwebusinesswest.co.uk

The Business Show returns to Bath on 14th April

The Business Show Bath 2010

The Business Show Bath 2010

Following a successful debut in 2008, The Business Show Bath returns to the Assembly Rooms on 14th April, from 9am till 4pm.

Showcasing up to 70 exhibitors from different business sectors, this year will include special new features such as a Creative & ICT Zone. Also exhibiting at the show will be procurement teams from public sector organisations across the region; including a seminar setting out the latest procurement policies and issues.

The seminar programme, delivered by GWE Business West Training & Development, will also cover themes on the latest techniques in marketing and sales, such as ‘What The Sex Pistols Can Teach You About Marketing’, with speaker Grant Leboff, Principal of The Intelligent Sales Club Ltd, who has formalised his own Sales and Marketing philosophy; Sales Therapy®.

And Jim Hardcastle, from Viper Marketing, will provide a steer on how businesses can harness the power of Facebook, Blogging, LinkedIn and Twitter via seminar, ‘Social Networking – (Don’t) Just Do It!’

Additionally, delegates can look forward to free speed networking sessions where they will have the chance to network with over 75% of participating delegates. And a conference café, where they can purchase refreshments, meet with associates and indulge in free mini-massages from cafe sponsor Thermae Bath Spa.

Organised by GWE Business West, the event is sponsored by Bath Chamber of Commerce and Initiative, UK Trade & Investment and Enterprise Europe Network and supported by Bath & North East Somerset Council.

Amanda Davey, Head of Events & Training at GWE Business West said “This year’s show promises to be bigger and better with the addition of several new exciting features. It’s a great opportunity for businesses to meet with companies in Bath and beyond, to network, exchange ideas and make new contacts.”

To register for free entry to The Business Show Bath 2010, email: visitbath@gwebusinesswest.co.uk

For full details visit www.businessshowbath.co.uk

Growing Customer Loyalty

Guest Blogger: Member – Nigel Jew, Action Coach

Most of us have learned from experience that customers who receive exemplary service often tell others about their happy encounters, while disillusioned or mistreated customers warn plenty of other people not to buy.  Angry customers cancel orders and move their business elsewhere, while well-serviced customers enthusiastically will come back more often and spend more money…in other words they move up the loyalty ladder.

 Let’s look at the seven rungs this ladder portrays so you can build truly outstanding customer loyalty:

  • SUSPECTS:  On the bottom rung is a suspect –anyone who might buy from you
  • PROSPECTS:  Someone who at least knows about your business because of your marketing, and that you know something about e.g. their name and address.  
  • SHOPPERS:  Once a person has bought a product or a service from you, they become a shopper.  Not yet a customer – they have only bought from you once and you don’t yet know whether you’ll ever see them again. 
  • CUSTOMERS:  Finally, if a shopper has returned to your business and bought from you again (and again, etc.) you – think of them as a customer.  These are people worth cultivating – they’re the lifeblood of every business. 
  • MEMBERS:  Once you begin making your customers feel like they belong to a club where they expect and receive exceptional service they move still further up the ladder to become a member. 
  • ADVOCATES:  These are customers who are so pleased with your service that they actively market your business for you.  They tell their friends about the ways in which you go out of your way to look after them. 
  • RAVING FANS:  Truly special customers who not only market your business, but actively sell for you.

So the more customers you help to climb the loyalty ladder, the more your business will benefit.  Don’t spend enormous amounts of time and money trying to gain the attention of suspects, attracting new prospects and shoppers – losing money all the time.  Rather become smarter by putting renewed, increased effort into winning repeat business from existing customers – and turning these into RAVING FANS. Customers on the top four rungs of the loyalty ladder earn you money – look after them well.

www.actioncoach.com/nigeljew

Limiting your Commercial Risk when Acquiring a Business

Guest Blogger: Member Grant, AMD Solicitors

Grant McCall Commercial Law Specialist

Whilst many in the SME sector may look back on 2009 and the start of 2010 as hard-hitting times, there are those businesses that will be looking to use the economic climate as a shrewd time to merge or acquire rival businesses in order to prosper. I have worked on a number of transactions recently where businesses have negotiated in principle the commercial aspects of a deal, signed Heads of Terms and afterwards contacted their respective lawyers to document the transaction.

There are often significant underlying issues that parties can fail to appreciate before presenting the deal to their legal teams. For example, a party to negotiations should be careful not to enter into binding commitments and ensure that all negotiations are subject to contract. Structuring the deal can effect the parties’ tax positions as without professional input it may be too late to choose the most tax efficient method.

From a buyer’s perspective there may be risky employment issues arising from the transfer of employees under the Transfer of Undertakings (Protection of Employment) Regulations (TUPE) or the failure of a key employee to transfer as part of the deal.

For most acquisitions there is likely to be a property element to the transaction whereby the acquiring company need to take over an existing lease or negotiate a new Lease for the target company’s existing premises.

Perhaps the main benefit in discussing the key issues of a commercial venture with a solicitor at the start of negotiations is so to avoid any unnecessary delays when working towards deadlines. It is therefore always advisable for a business looking to enter into a commercial venture of any kind whether acquisitions, mergers, working in partnership or through a joint venture, to take legal advice at the earliest opportunity.

Grant and his colleagues offer further advice and information upon legal issues for businesses.

E-mail commercial@amdsolicitors.com or telephone 0117 9898515. Copyright AMD Solicitors