A marine systems technology company grabbed the attention of the Dorset Business Angels with a concise and compelling pitch. Several of the Angels are keen sailors themselves and were impressed with the innovation demonstrated and the gap in the market that is being filled and the opportunities that the ambitious brand is building.
The Company’s products are designed to give boat owners real-time load data that will allow them to sail their boats faster. Their system provides a unique wireless load-sensing range of technology for rigging and soft line/ropes. Investors learnt how the rig loading on the vessel has a strong influence on the shape of the sails and hence the speed of the boat and also the boat’s safety. The capturing of this real time information is severely lagging behind other technology in the sailing market and this innovation fulfils a significant gap in the market and delivers the first ever solution to the mainstream market.
The founder and CEO advised, “Our vision is that every racing yacht will aspire to have one of our products to help measure their racing performance. With power boat, cruiser and charter owners using to enhance their safety.
The business is currently working with Sir Ben Ainslie to test and develop the products. Sir Ben, who is Olympic yachting’s most decorated sailor, is leading next year’s British challenge for the America’s Cup.
Seeking to raise £200,000 for 11% of the business, putting its valuation for investment at £1.8m. Future ambitions were shared and questions from the floor were answered well. 3 Angel investors expressed interest to carry out the due diligence process.
Remote condition monitoring of hardware devices
Also attracting investment attention was a spin-out company from Cambridge University. Founded in 2015 this Company has developed a successful ’fit and forget’ solution for the ever-increasing need for the ‘remote condition monitoring’ of hardware devices. The benefits include early warning of equipment failure, increased operational efficiency, energy reduction and regulatory compliance. The business is now raising £2M of investment to offer its products and software subscription services to an ever-growing industrial world-wide market.
Corrugated cardboard manufacture
A company aiming to disrupt the corrugated cardboard market, that has seen little innovation over the past 50 years or so, didn’t secure interest from their initial pitch but received interest from an investor who had been unable to attend the virtual pitch event but was impressed by the proposals submitted.
The business explained that current manufacturing methods use large scale ‘corrugators’ that are expensive to purchase and run, and require large amounts of gas, electricity and water to operate.
They have developed a ‘steam-free’ corrugator that requires no process water, uses 78% less energy than the traditional manufacturing process and occupies 88% less space than current equipment of a similar capacity. This will allow individual packaging companies to increase their margins by bringing board manufacture in-house, thus allowing them to produce just enough product to meet their short-term requirements. This avoids the current large investment needed to provide sufficient warehousing capacity for all grades of corrugated board they normally require.
With strong patent-protected IP, they now plan to subcontract the manufacture of their equipment to keep overhead costs low and are seeking investment to run their sales and marketing operation
Dorset Business Angels Chairman, Don McQueen advised, “This was our 2nd Virtual Pitch Event. The 1st event back in April created significant interest from would be investors and partners in what we do and we were pleased to welcome over 30 guests online at our July event. All pitching businesses had submitted their business proposals and financial documents prior to the online event, during which they had just 3 minutes to make their real time presentations. Questions followed by investors and partners, after which the pitching businesses leave the virtual room and investors hold a private conversation to gauge interest. The process has worked well for us and it was encouraging that 2 of the businesses secured immediate interest. Subsequent interest was received for another of the pitching companies following the event.”
DBA was formed in 2013 with the aim to bring investors and entrepreneurs together to accelerate the growth of early stage businesses. DBA provides quality, private equity investment opportunities to local high net worth (HNW) and sophisticated investors (SI).
Four times a year companies are invited to attend an event at which they pitch their business to the savvy Angels in a Dragon’s Den type scenario. Angel investment might come from a single investor or it could be 2 or 3 Angels pooling funds together to support a company. Any investments are in the form of an equity investment and not a debtor’s loan. Investments are made across all sectors.
DBA is sponsored by Saffery Champness Accountants, Ellis Jones Solicitors and Investec Wealth and Investment. To find out more about Dorset Business Angels or to book on to the pitch event on 12th October visit www.dorsetbusinessangels.co.uk
The Bournemouth office of national Chartered Accountants Saffery Champness LLP, has welcomed a significant client win, having been appointed by Parker Bullen Solicitors as their advisor and reporting accountant in relation to Solicitors Accounts Rules.
Parker Bullen is a long-established firm of solicitors with offices in Salisbury and Andover. Providing legal services to individuals, businesses and charities in Wiltshire, Hampshire and beyond.
Saffery Partner Jamie Lane advised, “I was thrilled to get the opportunity to work with Gareth, Nikki and the team at Parker Bullen. Safferys focus on growing our client portfolio of professional practices means that Parker Bullen will receive the high levels of service that they expect, combined with the sector expertise required. Gareth and Nikki were seeking a professional advisor that is both proactive but capable of being responsive to the needs of their Firm. I’m excited to be working with them.”
Gareth Horner, Managing Partner at Parker Bullen said, “We are delighted to be working with Saffery Champness. They have demonstrated an excellent understanding of the challenges and opportunities for law firms and have already used this to our advantage. This coupled with a focus on delivering excellent client service aligns to our own ethos. We are delighted to have them as a partner working with us.”
About Saffery Champness LLP
Saffery Champness LLP is a firm of chartered accountants that advises individuals and families, not-for-profit organisations and businesses across a range of sectors. As a member of Nexia International, it is part of a worldwide network of independent accounting and consulting firms.
For over 160 years, the firm’s success has been founded upon providing clients with a genuinely partner-led service and working with them to create bespoke solutions that help them to achieve their personal and business objectives. For more information visit www.saffery.com or see Twitter @Safferys.
About Parker Bullen
Parker Bullen is a long established firm of solicitors with offices in Salisbury and Andover. For over two centuries we have provided legal services to individuals, businesses and charities in Wiltshire, Hampshire and beyond.
The current partners are proud of their long standing tradition but have modernised the firm, its approach and services. With a strong focus on client service and ‘putting itself in its clients shoes’ Parker Bullen is firmly committed to serving the legal needs of our clients.
Parker Bullen is a firm that is big enough to provide a complete service but not so big that personal contact between us and our clients is lost.
Live Job Fair : 12th July until 11th September.
Many virtual job fairs are well considered in principle but are often only accessible or visible for a few hours or a day. Whilst any exposure is valuable, this may not be enough to support job seekers and employers particularly as furlough benefit schemes etc. change in the coming weeks.
The Daily Echo virtual Job Fair will be the first of its kind in terms of its scale, presence and reach. They have committed significant resource and editorial backing for this project which will provide local employers an unprecedented and *free (*free for 4 weeks and a small charge after that if they wish another 4 weeks) access to the Daily Echo audience, which delivers reach across print and online of 9 out of 10 adults.
How the virtual fair will work:
· Up to 30 employers will have an opportunity to feature their vacancies for a 4 week period in an dedicated and highly visible area of the Daily Echo website, accessed via a number of ways.
· Each business will have their company brand, contact details and headline job title which then links through to a short video (which they can do on a smart phone) which outlines the job and the company ethos – very much bringing the piece to life.
· The virtual fair will be accessible from a prominent display ad on the home and news page which will remain fixed for the duration and a link on the jobs page itself. By keeping the message visible they can attract more job seekers (active and passive) and make it easier to signpost.
· They will also use Facebook each week during the course of the campaign to showcase specific companies and their respective vacancies
The Daily Echo is also making space for partners and providers who are in a position to provide free services to include CV writing and career advice.
More Information can be found HERE.
Companies who have vacancies should email firstname.lastname@example.org with the following information by Monday 6th July.
In the subject field please reference: Virtual Job Fair vacancy
Company logo supplied as JPEG
Business name, address and postcode
Contact detail including phone number
Job title being featured
Video no more than 3 minutes long
The Fair will kick off with an in paper and online press launch and then remain live until the 11th September.
If you are due to make a payment on account of Income Tax on 31st July 2020 then you have the option to defer the payment until 31st January 2021.
You can defer the payment due on 31st July if you complete a tax return and you are struggling to make the payment due to the impact of the COVID-19 crisis. This is an automatic deferral, so does not need to be applied for, but you can still make the payment by 31st July if you are able to do so.
The income tax will be payable by 31st January 2021 and there will be no interest or penalties for deferring the payment, provided it is paid by 31st January 2021.It is worth remembering that on 31st January 2021 you will be paying, in addition to any deferred Income Tax, the balancing payment in relation to 2019/20 and the first payment on account for 2020/21. So if you do defer the July payment, then you could be paying a whole years tax liability at the same time.
If you are struggling to pay taxes generally then it is possible to agree on an instalment plan with HMRC to spread the payments, but there will be an interest charge for late payments.If you require any support on this, please contact your TC adviser today on 0330 088 7111.
We’re looking forward to helping you prepare to re-open your business and operate from 4th July
The new government guidance to help you plan to re-open hospitality and tourism businesses has now been released and comes in to effect from 4 July 2020.
Working safely during COVID-19 sector guidance:
List of businesses able and not able to open from 4th July:
Guidance for people who work in or run restaurants, pubs, bars, cafes or takeaways: https://assets.publishing.service.gov.uk/media/5eb96e8e86650c278b077616/Kee ping-workers-and-customers-safe-during-covid-19-restaurants-pubs-bars- takeaways-230620.pdf
Guidance for people who work in hotels and guest accommodation, indoor and outdoor attractions, and business events and consumer shows: https://www.gov.uk/guidance/working-safely-during-coronavirus-covid-19/the- visitor-economy
Guidance for people who work in or run hotels and other guest accommodation:
Guidance for people who provide close contact services, including hairdressers, barbers, beauticians, tattooists, sports and massage therapists, dress fitters, tailors and fashion designers:
UK Hospitality is preparing guidance to help prepare COVID-19 Risk Assessments: https://www.ukhospitality.org.uk/page/coronavirus
Free webinar to help businesses keep a safe record of customers visiting their premises as part of the NHS ‘Track and Trace’ system, in accordance with the new guidelines:
Over the coming week BCP Council will be issuing further support and guidance from our local agencies including Licencing, Police and Fire services to help your business to re-open and recover. Please continue to check back for updates.
Good luck with your re-opening plans.
Enterprise Nation is delighted to announce a partnership with Amazon to deliver the Amazon Small Business Accelerator, a major support package for 200,000 small businesses across the UK. Being a valued community member of Enterprise Nation, you are first to hear that from today, you’re able to join this new programme! Sign-up for free to take a quick diagnostic plan and find the e-learning path that best fits your business!
Why Sign Up?
Take a quick and easy business diagnostic to find the support best tailored to your needs.
> Online learning
Access e-learning from experts, with modules on social media marketing, selling on Amazon, accounting, hiring and more.
> Week-long bootcamps
Apply to take part in a week-long intensive training bootcamp and access ongoing support to help your existing business start trading online quickly.
These will be run across different business sectors including:
> Other exclusive benefits
By joining the programme you can access a bundle of business offers worth over £2,000.
The LGA was very well attended and we were delighted to welcome the Leader of the Council, Cllr Vikki Slade and CEO Graham Farrant attendance.
Graham Farrant gave an update on the impact of COVID19 on the community, the economy and its resultant effect on BCP. As we know the amalgamated Council was created 1st April 2019 and whilst it has been in place for just over a year in time, they have still not completed a full year under ‘normal circumstance conditions’.
With a budget of £283million/year made up of council tax, 50% business rates, and some grant money, the authority has seen a loss of £50-53 million. (Affected by big losses from car parking, trading and more money spent on moving patients out of hospitals and into care homes earlier than necessary.) Graham highlighted that food distribution and shielding were left to Council and with children not attending school, many referrals and safety issues have arisen. However, the Councils relationship with Police and Health have improved over the past few months which benefits the community.
Graham went on to say that before he arrived in post, everything in the Council was paper based and that this has completely been reversed with everything ‘online’, significantly improving planning.
Vikki Slade discussed the Community Response, Business Grants and new Discretionary Grants scheme. The Council were able to very quickly pull together a community hub response called “Together We Can” with the intention that everyone who needed it, got support in terms of food, medicine, shelter etc. Council staff were redeployed to help with essential services and participated in creating a new environment together, as well as 2,000+ volunteers who were matched up with vulnerable people. BCP is now a leading council in the way it has worked during COVID19 and found new ways of communicating with the public, including weekly ‘FaceBook lives’. To date, 6000 businesses within BCP have received £75 million in grants.
Graham and Vikki continue to lobby government to look to accommodate those businesses that aren’t covered by the grants. The Discretionary Grants Scheme has a small budget which will not go far, with the Council allocating £0.3million to business that didn’t meet criteria but were deemed important to the local economy e.g. hospitality & tourism, nurseries, finance, health & social care. Currently, the Fund has had 502 applications, with 650 businesses anticipated to apply.
To view the interview, click below.
By Jason Lewis, The Bournemouth Echo
HOTELIERS across the conurbation are ready are raring to welcome back guests when the time is right this summer.
That is the message from the chair of BH Area Hospitality Association (BAHA), the group that represents many of Bournemouth, Christchurch and Poole’s hotels.
While the hospitality industry has taken a big hit as a result of the coronavirus pandemic and government-introduced lockdown, BAHA chair Tim Seward said hotel owners are remaining upbeat.
“Staff are furloughed still and there are businesses that are very positive about the summer when we can open in July,” he said.
“We are waiting for an announcement on when and where and how.
“It comes back to as and when hotels can open, they can get the rest of the summer and we can be okay.
“Some hotels are looking to close temporarily to be ready for next spring, but they are not closing forever. They are looking at how to keep their business going.
“With the people I speak to, not just in big hotels but in little B&Bs and guest houses, there has been some positive work.”
Lockdown put a stop to the traditional income from visitors but several Bournemouth hotels took the chance to use this time to make improvements.
This includes the Hampton by Hilton creating a new breakfast area, Hotel Piccadilly painting the front of their hotel, Marsham Court creating a new seating area and the Queens Hotel & Spa continuing with a full refurbishment to a four-star standard.
Operations, such as those at Cliff House Hotel, Southbourne, and Oceana Hotel Group, diversified by offering collection or delivery takeaway which have been well received
On Rightmove there are around 18 hotels, guest houses and B&Bs across Bournemouth on the market.
However, Mr Seward said there had not been an increase in sites on the market since the start of the pandemic.
“Those hotels were all on the market pre-Covid-19,” said Mr Seward. “I keep a very close eye on those hotel listings at the moment and those hotels and guest houses were all on the market.”
He added: “When you look at the beach being full, we want everyone to come back safely, but actually as a seaside resort compared to others, we are doing very well.
“There is another resort that has eight hotels for sale on their seafront. We don’t have that. We are in a good place at the moment and I think hoteliers have been careful.”