Monthly Archives: February 2020

Commercial Property, News, Wales News

The GS Verde Group takes new office space in Pembroke Dock.

The GS Verde Group has opened a new office within a listed building in Pembroke Dock to accommodate the growth of its corporate and commercial teams and the development of its sector specialist energy team.

The latest office for the Group will be within the Grade II listed Guardhouse on the Royal Dockyard area of Pembroke Dock, currently owned by the Port of Milford Haven.

The Port of Milford Haven is the UK’s top energy port and Wales busiest port handling around 20% of Britain’s seabourne trade in oil and gas. The port is also widely recognised in the industry as the energy capital of the UK.

The Port, and its cluster of energy-related businesses along the Waterway, is a key driver of economic activity in West Wales, attracting inward investment and supporting over 4,000 jobs.

GS Verde Group consists of corporate law firm Greenaway Scott, corporate finance firm Verde Corporate Finance and patent attorney business Alchemie IP and is unique in Wales as a multidiscipline corporate advisory business.

The Group has a number of existing clients in Pembrokeshire and within West Wales generally and the move to the Royal Dockyard will enable it to continue its work with key clients within the area including medical technology business Magstim which is a leading supplier of transcranial magnetic stimulators, and ocean energy company Bombora Wave Power whilst also providing its specialist advisory service on site within the Pembroke Dock office.

The Group has made four new appointments to the Pembroke Dock office to support the continued growth, including appointments within the corporate, commercial and real estate teams.

The development in Pembroke Dock follows the announcement by GS Verde Group of a significant six-figure investment by HSBC at the end of 2019 to support the growth of its teams and offices within Cardiff, Bristol and Pembroke Dock.

Leanne Thomas, head of the West Wales team within GS Verde Group said:

“I am delighted with the new location, and the office itself is very interesting with the combination of its historic background and its modern refurbishment.

“I am sure there is a significant level of work within the West Wales region and our teams at Greenaway Scott and Verde Corporate Finance are excited to be on site and in situ ready to make progress in 2020.”

Health

Worst things employers have said to employees dealing with cancer, according to RedArc

It is not an unreasonable expectation for an employee diagnosed with cancer to look to their employer for support, but according to RedArc, many employers handle the situation incredibly untactfully.

Every year, RedArc speaks to over 650 people with cancer every year – from the newly diagnosed through to those who are dealing with the longer-term consequences of the disease. Despite the high prevalence of cancer in the workplace, (there are over 900,000 people of working age living with cancer in the UK), RedArc’s nursing team continue to be shocked by the comments made by employers.

During the past year, RedArc logged the following statements, as reported by their employee patients:

  • “We may have to let you go as you are no longer able to carry out your duties.”
  • “Perhaps you should retire.”
  • “We may need to replace you as we can’t wait any longer for you to return.”
  • “You have had your treatment now and so should be fine.”
  • “We are unable to look at alternative work roles.”
  • “We need you to be back at work full-time, we are unable to accommodate short-time working.”
  • “Can you not come into work around your treatment appointments?”
  • “Mandatory training was not up to date due to your sickness.”
  • “How long will you be off?”

Christine Husbands, managing director for RedArc said:

“It is employers’ rightful duty and responsibility to provide support for staff who are diagnosed with a critical illness, and that support starts with what an employer says and how they say it.

“Of course, not every employer will feel at ease having these potentially difficult conversations, and where this is the case, they may benefit from having access to specialists who can support both the individual employee as well as signpost to coaching, training and support for the line manager and HR team.”

Such support, can often be included within Private Medical Insurance, Group Risk products or Employee Assistance Programmes (EAPs), and can be a great benefit to employees should they need it, including offering access to second medical opinions on a diagnosis or treatment programme; help in navigating and joining up NHS services and charities; additional therapies including reiki, osteopathy, acupuncture and psychotherapy; as well as a medically trained individual who is able to provide emotional support throughout the cancer journey, including how to manage difficult conversations with their employer.

Christine Husbands concluded:

“In our experience, many people with cancer want to continue working, or get back to work as soon as they can. There can be many obstacles both physically and mentally for the employee and also limitations within the workplace. Managed well, the workplace can be a safe haven for those with, and recovering from, cancer: somewhere where they have a purpose and where they can get away from their health matters. Employers who understand this, take the time to appreciate and accommodate the issues and treat their staff with respect, understanding and support will be repaid in commitment and loyalty.

“Employers should also be aware that the opposite is also true: inappropriate treatment or failure to accommodate an employee’s needs are also noted by the wider workforce, so a badly worded comment or poorly phrased question to one individual can quickly circulate around the office and cause damage to employee relations as a whole.”

Business Investment, News

Tech leads but stunning rise in interest for sustainable businesses, finds Angel Investment Network report

Angel Investment Network (AIN), the UK’s largest online angel investment platform, has revealed its latest ‘State of the Angel Investment Nation’ findings. It is based on the data of more than 100,000 UK registered businesses looking for funding and 30,000 investors.

‘Technology’ was the top search term used in 2019, based on investor keyword searches. This was followed by ‘property’ with ‘mobile’ the third most popular. ‘Robotics’ climbed six places year on year to now be the fourth most requested search term. Meanwhile ‘electronics’ is up by nine places on the list to number six.

With climate change centre stage in Davos last week, there also has been a stunning rise in interest for sustainable businesses. Searches for ‘Renewables’ have rocketed by 34 places to be the 14th most searched for term. Meanwhile ‘greentech’, unheard of even a couple of years ago, is now the 19th most popular keyword, up from 47th last year. Environmental leapt 56 places up the rankings to be the 25th most searched for term.

For entrepreneurs, property is the most popular sector for pitch ideas. Entertainment and leisure is the second, followed by technology. Overall there were 10% more pitches over the past 12 months from startups looking to attract investors.

According to AIN co-founder Mike Lebus:

“Startups are the lifeblood of the UK economy and despite a turbulent year politically, there has been no slowdown in activity. Investor interest remains focused on technology and the cutting edge applications that are possible through it, including mobile and robotics. However property, one of mankind’s oldest profit generators, continues to drive the interest of investors and is now our top sector for pitches.”

He continued:

“The growth in interest in impact related terms is remarkable and we are witnessing a seachange in investor attitudes as it has so quickly shot to the top of the news and business agenda. It is the reason we launched our spin off SeedTribe to help support entrepreneurs who put sustainability at the heart of their business model.”

The report also reveals some discrepancy between startup ideas and investor interest. While fashion and beauty remains the fourth most popular category for pitch ideas, it is just 17th on the list for investors. It also looks like faith in the maverick inventor, so beloved of Dragon’s Den, is waning. ‘Inventions’ as a search term fell by seven places from seventh to fifteenth most searched term. Meanwhile ‘Gadgets’ also fell by 15 places to number 32 as investors instead look for more tech and software based ideas.

AIN has also revealed the UK’s top entrepreneurial hot spots. London remains responsible for 37% of all pitch ideas, although its market share was slightly down. The South East is second in the list with the North West number three, up 10% year on year. There has also been impressive growth in other parts of the country. There was 25% growth in pitch ideas in the West Midlands, with East Anglia up 26%.

The Top 10 Sectors for Pitches:
Property
Entertainment & leisure
Technology
Fashion & Beauty
Food & Beverage
Software
Hospitality, Restaurants & Bars
Retail
Business Services
Education & Training

The Top Keywords for Investors:
Technology
Property
Mobile
Robotics
Software
Electronics
Computers
Products
Residential property
Finance

The entrepreneur hotspot list is as follows (based on number of pitches from each region):
London
South East
North West
South West
West Midlands
East Midlands
Scotland
East Anglia
Yorkshire and Humber
North East
Wales
Northern Ireland

Global Trade, Health, News

Top Economist predicts the effects of the Coronavirus

The hysteria about declining global demand for oil because of the coronavirus outbreak in China will soon stop. But only because of the very strict containment measures that the Chinese government is implementing, according to leading oil economist at ESCP Business School.

Professor of Energy Economics Dr Mamdouh Salameh says

“I suspect that among those making frenzied claims about global oil demand and loss of 0.5%-1.0% of China’s GDP as a result of the outbreak are some commodities traders and investment banks who are fast buying crude at reduced prices to make a profit later when oil prices recoup all their recent losses.

“Before the outbreak, the fundamentals of the global oil market were positive pushing oil prices upward particularly in the aftermath of the signing of Phase 1 of the trade deal between the U.S. and China. The proof is that the minute de-escalation started in December 2019 China’s crude oil imports broke all previous records and hit 11.76 million barrels a day (mbd).

“The outbreak is an aberration. While it is focusing the Chinese authorities’ mind on trying to contain the virus and deal with it, the frenzy about a decline in China’s crude oil imports has gone viral without justification.”

Dr Salameh warns that it will be a huge mistake for OPEC to consider deeper oil cuts. Firstly, because these cuts will have no effect whatsoever on prices and secondly because they will only lead to a loss of market share by OPEC members. Therefore, Dr Salameh advises OPEC to keep its cool and wait for the outbreak of the virus to be contained. Oil prices will soon recoup all their losses and resume their surge.

Image: Business Insider