£6million investment deal latest success for Bromwich Hardy

An 8.6 acre industrial site in a prime location close to the M4 has sold for £6million in an investment deal concluded by award-winning commercial property specialist Bromwich Hardy.

The site, on the Queensway Meadows Industrial Estate in Newport, South Wales, has been bought by an unnamed investor.

Bromwich Hardy founding partner Tom Bromwich said the excellent location and attractive long-term income potential were key factors in securing the 93,000 sq ft site for his client.

“The site ticks all the boxes as a first-rate investment opportunity and we were delighted to secure it for our client.

“It is home to excellent tenants in car supermarket Motorpoint, who have a longstanding lease, is situated within easy reach of the M4, Cardiff and Bristol and there is significant development investment in the nearby area.

“These larger sites are of particular interest to the motor industry and all the conditions are in place here for the site to generate a healthy long-term income and return on investment.”

Motorpoint had a turnover of £1,058million in 2019 along with a profit of £22.8million and a net worth of £54.1million.  Tom acted jointly with Richard Howell at Avison Young in the acquisition.

The deal is the latest success for Coventry-based Bromwich Hardy, which was revealed to be the ninth-best performing agency across the country in new EG Radius on-demand rankings earlier this month.

“Despite the pandemic we have been able to use our wealth of knowledge and years of experience to continue to secure deals all over the country,” added Tom. “It remains the case that the right properties will still prove to be hugely attractive to the right clients and we have a team here which is expert at making those connections.”

Fit-out and manufacturing firm continues positive year with double hire

Midlands-based handrail and balustrade specialists, SMART Balustrades, has further expanded its team with a double hire as it strides towards its ambitious 35% year-on-year growth target for 2021, following a record year for the company in 2020.

The Staffordshire family business specialises in the fitting and manufacturing of bespoke glass and stainless-steel balustrades, handrails and Juliet balconies, for the commercial and residential sectors.

Alexander Duerden joins SMART Balustrades as a site installation engineer and possesses a strong background in steel installation and carpentry.

With a Gold Construction Skills Certification Scheme (CSCS) card and a Level 3 NVQ in Occupational Work Supervision, Alexander’s responsibilities in his new role will include working on site to carry out the installation of the company’s handrail, balustrade and balcony systems.

Mick Cox joins the team as a production operative and will be responsible for the assembly, packaging and dispatch of orders.

With more than 12 years’ experience as a warehouse supervisor in his previous role, Mick is well equipped to handle the processing of a large number of orders to both the company’s growing commercial and residential sector clients.

On his new role, Alexander said: “I’m very pleased to have joined the SMART Balustrades team – as a growing company with a reputation as a leader in the balustrade industry, I’m looking forward to implementing my skills and experience to continue delivering high quality installations to commercial and residential clients.”

On his new role, Mick said: “SMART Balustrades is an ambitious company with big plans for the future and I’m delighted to be joining the team at such an exciting time.

“The team are incredibly welcoming and I’m looking forward to managing the company’s growing order book and continuing to deliver the excellent customer service that SMART Balustrades is known for.”

The SMART Balustrades team continues to expand as the firm looks to hire more employees later this year, having already secured £1.4millon worth of business out of its £2millon target for 2021.

The company has also recently secured Constructiononline Gold membership – a platform designed to verify that contractors have met PAS 91 and Common Assessment Standard requirements, creating a validated pool of high-quality suppliers and instilling confidence in buyers looking to procure various construction contracts.

David Hough, managing director of SMART Balustrades, said: “We’re really pleased to be recruiting once again and it’s a pleasure to welcome Alexander and Mick to our team.

“Our industry is incredibly buoyant after what was an unsettling period for all and we are seeing commercial and private clients investing in property. Alexander and Mick will be a vital members of our production and installation teams and both bring a wealth of experience and positive attitude with them.

“As well as the great news of Alexander and Mick joining us, we are pleased to have secured Gold membership with Constructiononline which is another positive step for the business – having met all the necessary requirements and proven our credentials.

“The platform will open up new opportunities for the company, placing us in front of buyers across various sectors looking to use our specialist products for their next project.”

Specialists in handrail and balustrade systems, SMART Balustrades manufacture and install a range of products for sectors including education, retail, leisure, hospitality and housing.

Part of the Unitech Group, the firm designs and manufactures its products at Unitech Group’s 75,000 sq. ft. production facility in Burntwood, Staffordshire.

Discussions around race are nothing new, so what needs to change?

Discussion about race in the workplace is not a new phenomenon, says Mary Asante, Director at HRi, so what needs to change?

The UK first passed the Race Relations Act in 1965. This act was reviewed in 1968, and again in 1976, with the most recent act about race, the Equality Act, passed in 2010. George Floyd’s death and protests across the world by the Black Lives Matter movement and its allies have highlighted how widespread and sensitive the issue of racism still is. Race discussions continue to be a difficult and uncomfortable discussion in society at large and particularly in the workplace. People still seem reluctant to talk about it, fearing they may say something wrong and inadvertently offend someone. In most workplaces, it is quietly subsumed into the equality or diversity and inclusion discussions and rarely receives enough mention, discussion, or attention. The result of this is sadly limited change and slow progress.

Race and Employment

The issue of race raises its head right from the onset of the employment journey, at the recruitment stage and may be prevalent throughout the employee lifecycle. Although the reality is that it starts way before this in society and in the education of our children.

Recruitment and Selection

The recruitment and selection process often unfairly discriminates against candidates from ethnic minorities, often unconsciously. For instance, the CV screening process may preclude candidates with foreign or minority sounding names. This is regardless of whether the individual is British, born and raised in Britain or not. As a result, there has been a call for blind selection of CVs (i.e., selecting CVs without candidates’ names on them) as a potential solution to this issue. Whilst this may help at initial stages, this alone will not resolve the issues surrounding racial bias and discrimination in the recruitment process, they will instead simply rear their head further along in the process.

Let’s look at an example for you to further demonstrate this point. Amy applied for a senior manager in a large well-known company. She was very qualified, educated to degree level, with years of experience in her field. She was a highflyer, meeting a lot of the job role requirements in the job description. Amy was shortlisted for and had a successful phone interview. She was invited to the second stage face-to-face interview, which she was extremely pleased with. Amy turned up for the interview and introduced herself at the reception, stating why she was there. The receptionist seemed surprised, as did the hiring manager when they came to the reception area to meet her. Amy is Black British, born and raised in London. She is well spoken and articulated. There was no indication whatsoever during the phone interview that Amy was Black. Hence, the recruiting team were totally surprised and taken aback when they met her in person. This made the second interview awkward. Amy did not get the job. The hiring team could not rise above their prejudice.

Progression and Talent Development

When it comes to progressing within organisations, the glass ceiling for most minorities is much lower. The McGregor-Smith review on Race in the workplace highlights that ‘only one in 16 in top management positions are held by an ethnic minority person’. This figure becomes even lower when you take a closer look at the separate groups within the ethnicity pool. The representation for Black and South Asian in top management positions is much lower. It doesn’t take much to realise that there is a real ‘wastage’ of talent and indeed, a missed opportunity for employers to engage and benefit from the skills and talent of a diverse workforce by limiting the development opportunities for minority individuals.

Minorities are often overlooked for promotion for a variety of reasons. In some cases, there is a lack of recognition for the roles minorities play in organisations. They may never truly belong or be given opportunities to shine in the same way as their white colleagues. Whether this is down to unconscious bias, conscious bias or favouritism or a combination of all three remains a challenge which needs to be further explored.

Here’s another example. Roy was a member of the leadership team of a technology company. The team comprised of seven senior managers, four of whom were already directors of the business. Roy looked after a number of functions in the business, including the IT department. He made significant contributions to the business and the strategic direction of the business. Over a period of two years, two of the three non-directors were made directors of the business. Roy was side-lined. There were never even any discussions around appointing Roy to the Board of directors. Operationally, Roy operated at director level, but was never offered the opportunity or recognition as a director of the business. The sad reality is that the organisation is not going to appoint a Black man to their Board of Directors, but were quite happy to exploit his skills, expertise, knowledge, hard work and dedication.

As Lynne Ingram, Managing Associate at the solicitors, Freeths explains, it is vitally important that decisions relating to employees are based on skills and attributes rather than any conscious or unconscious bias. “Once an allegation of discrimination or less favourable treatment because of race is raised by an employee, the burden moves to the employer to prove that that any decision is not because of discrimination. The risks to the business are not only the failure to retain talent, losing out on the positives of a diverse workforce, reputational damage but compensation is uncapped for discrimination, the highest award was in excess of £1.5 million which was an extreme case, but the average award is £35k.”

Reward and Recognition

Minorities may be paid less for performing similar roles within organisations. The gap becomes wider for ethnic minority women. The same can be said for bonus payments and other incentives. All employees must be valued, recognised, and rewarded accordingly for
their effort, output, and contribution. The decision should not be influenced by whether the decision maker ‘likes someone or not’ but they often and sadly are. There have been calls for the government to make ethnicity pay gap reporting compulsory for organisations, similar to gender pay gap reporting (currently suspended due to the pandemic). The Office for National Statistics (ONS) reports that gender pay gap dropped from 17.4% in 2019 to 15.5%, a step in the right direction. Campaigners for ethnicity pay gap reporting hope that mandating organisations to report on ethnicity pay gap will have the same impact over a period of time.

Organisational Culture

Talking about race in the workplace is often seen as HR’s job, with senior leadership very often passing the responsibility on. The reality is however that for effective and meaningful conversations to take place in the workplace, and for change to happen, the leadership team need to be driving this. It needs to be on the boardroom agenda, not as a checklist exercise for HR to fulfil. Ultimately it be deliberated by the board; backed with action and accountability. And not only that, but the culture within organisations must be open to honest discussions around race. This is where HR can come in, to ask the challenging and sometimes uncomfortable questions and to help leaders look at their own organisations and in effect, hold up that mirror for them. HR can play a key role in highlighting the issue of racial inequality and racism within their organisation or when working with their clients as an external HR professional. This must be done at all stages throughout the employee lifecycle.

Holding leaders to account

Organisational leadership must be accountable for all aspects of race, racial discrimination, and racial inequalities. They must engage with HR, Equality and Diversity professionals and legal advisors to enable them to address the issue holistically, for their organisation to benefit from the skills, knowledge, experience, and talent of a more inclusive workforce.

With this in mind, I will close with some key questions organisations (and more specifically leaders) can ask themselves to help promote equality and tackle racism in their workplace:

  1. When have your employees felt different to others in the business?
  2. How did that impact your employee’s behaviours? This might not necessarily be work related. It could be for instance, not putting themselves forwards for opportunities within their teams.
  3. What is racism? And what does racism look like in our organisation because it will no doubt exist somewhere.
  4. How can we address racism within our business?
  5. How can we create and drive genuine equal opportunities within our
    organisation?
  6. What biases do I have as a leader? Leaders and managers would do well to take the Harvard Implicit Association Test (IAT)which highlights our own biases and how these can unconsciously impact our decision-making process.
  7. How do we include our minority employees in our discussions around race and other organisational challenges?
  8. How do we remove the language of fear that is so often associated with race in the workplace and ensure there is an open and honest conversation happening?
  9. How can we engage all of our employees in discussions around equality?
  10. How do we harness the skills and talent of our minority employees?
  11. How do we find suitable mentors (or better still sponsors) for our rising minority stars?
  12. How do we train our leaders and managers to understand racism and its
    challenges in our workplace?
  13. How can we hold ourselves to account?

Only once you have asked yourself all of the above questions and honestly considered your responses will you be in a position to confidently talk about race in your workplace. And indeed, only then will you be able to hold yourself to account.

Words by Mary Asante, Director at HRi.

 

Football media giant COPA90 scores £1.75m investment ahead of busy summer of sport

COPA90 will use funding from the alternative finance provider Growth Lending to increase working capital availability, as the firm kicks-off an exciting sporting calendar

The world’s largest independent football media business and self-styled “home of global football culture” has secured a £1.75m facility from alternative finance provider Growth Lending, to support its ambitious growth goals.

Growth Lending, which has a strong track record in the media lending space, has provided COPA90 with the substantial sum following the firm’s exponential growth in recent years, as well as the exceptional management demonstrated throughout Covid-19.

With football fan culture at the heart of the business, the investment will provide COPA90 with crucial working capital, which will accelerate existing and future projects during this exciting summer of sport.

The London-based business has a reach of more than 80 million fans worldwide and uses its distributed media network to reinforce the message that football is not just a game, but a way to bring people together. COPA90’s platform hosts behind-the-scenes interviews with popular players, videos of football challenges and immersive documentaries of players, teams and football culture. Now, with the UEFA European Championship 2020 well underway and a busy summer of sport ahead, this additional cash injection will propel the firm towards its next stage of growth.

Growth Lending is a leading provider of fast, flexible and tailored funding for high-calibre B2B firms. The team – based in London, Manchester and Bristol – has decades of experience encompassing institutional lenders, alternative finance and invoice discounting, that gives them the confidence to lend quickly. The lender provided more than £80m of funding in 2020, including £64m under the government’s CBILS initiative and aims to be a £200m business by the end of 2021.

Stephen May, chief financial officer at COPA90, says: “We could see the growth potential in our business, but needed to fund the working capital required to fulfil that potential.

“Strong relationships with key decision makers at Growth Lending has meant that we’ve developed a collaborative partnership, which will be instrumental as we take our next steps.”

Julian Hornby, principal at Growth Lending says: “It is great to be able to continue working with the team at COPA90 and support its ongoing growth journey.

“Our investment will fuel several exciting projects this summer, as part of the busy sporting calendar, so we’re looking forward to watching them come to fruition.”

For more information about copa90, visit copa90.com

For more information about Growth Lending, visit growth-lending.com

360 Resourcing appoints new CEO to lead business growth and channel development

360 Resourcing, a leading recruitment technology and candidate attraction solutions company, has announced the appointment of Janette Martin as the new CEO.  Janette’s role will be focused on driving 360 Resourcing’s high growth ambitions, expanding its routes to market, and bringing more revenue streams into the business.

Janette joins 360 Resourcing with over 20 years’ experience in UK tech software and services. In previous roles, held at IRIS Software Group, Advanced and Sage, as Chief Sales Officer, Managing Director and Group Channel Director, Janette brings extensive experience and a proven track record delivering high growth strategies, leading change transformations, creating channel partnerships and is passionate about strong leadership.

Janette was attracted to the high growth ambitions at 360 Resourcing.  She comments, “360 Resourcing spotted an opportunity to expand its offering during a turbulent time and has become one of the fastest growing B2B tech businesses in the UK. I am looking forward to working with the founders to build on this growth and make their ambitions a reality.”

Janette continues: “360 Resourcing has huge potential; I can see how impactful the solutions are for the market, and I will lead the business to continue to deliver market leading solutions, world class customer service while growing at pace, making 360 a leading brand in the recruitment technology sector.”

Stephen Rundell, Founder of 360 Resourcing adds: “Janette brings years of expertise in developing businesses and attracting partners to grow revenue. Her knowledge and experience in leading and inspiring people to create great teams and culture whilst delivering high growth is ideally suited to 360. I am looking forward to working with Janette during what is an exciting time for our business.”

Tristan Ramus, Chairman and Investor in 360 Resourcing commented, “We are delighted Janette has chosen to join our growing business and recognises the huge potential of our team and products. Her achievements in evolving and leading high growth businesses with great cultures is perfectly aligned with our ongoing drive for innovation.”

For more information on 360 Resourcing, visit https://www.360resourcing.co.uk/

2021 Cybercrime and Protecting your Data

Written by Sarah Doherty, Product Marketing Manager, iland

2020 was a difficult year all around. Many organisations are still adjusting to the new landscape while trying to plan for the future. Cybercrime was at its prime in 2020 with global costs climbing as high as $1 trillion, according to CSIS research. Unfortunately, with the pandemic dragging on and an extremely drained remote workforce that still needs to be secured, there is every chance that cybercrime will be an even bigger headache in the months ahead.

Numerous aspects are aligning to create even more dangerous situations. Organisations that fail to identify and address these impending hazards will be at risk from increased cyber-attacks and data breaches. But these types of imminent disaster can be averted with the right plans. By aligning security efforts with business goals, redesigning infrastructure, and looking at new technologies, organisations can build resilience while setting themselves up for future success.

 

Cyber-criminals are Prospering

With the pandemic triggering a swift acceleration of working from home, the potential of attacks for cyber-criminals has grown immensely. People are working in less secure environments, they are more distracted, and the pandemic has provided cover for an increasing number of scams. The possibility of the vaccine is certain to be exploited by ruthless attackers and the likelihood of an economic downturn will create larger numbers of these criminals.

It has never been easier for an aspiring criminal to purchase ransomware complete with technical support. These cyber-criminals are not who they used to be, but in reality, organisations are under attack from disciplined, professional, determined factions employing increasingly sophisticated strategies.

 

Insider Threats are on the Rise

Social engineering tactics have made it that much more difficult for weary and over stressed remote workers. Malicious insider threats continue to be a concern, but carelessness and simple human error can cause just as much damage to the data of any organisation. With the increase in remote working, the line between work and home has become increasingly blurred during the pandemic. This pressure adds to the already fragile state of many employees which can then lead to mistakes. For example, sending an email to the wrong person, attaching the wrong file, or falling victim to what seems to be a reasonable request which can then turn out to be a scam, are all potential risks.

It is critical to be prepared for this developing threat and organisations must continue to support remote workers, encourage a healthy separation between work and home life, and set clear policies on how social media and different kinds of technologies can be used. Continuous education and rigorous security awareness training are vital.

 

Be Aware at all Times

Third-party cloud providers and the use of personal devices can create unforeseen difficulties for security professionals. As organisations design a new architecture, it is crucial to be aware of what’s going on across the extended network. It’s key to review potential points of failure and build that into not just resilience planning, but also risk assessments.

 

Be Prepared and Plan Ahead

Securing the integrity of assets throughout an organisation isn’t just about properly configuring and integrating the right technologies, it’s also about supporting your greatest asset, your people. Focus on collaboration will earn rewards across your organisation, and business security alignment is an important aspect for success. Build awareness internally and work collaboratively with your partners and don’t be afraid to work with their teams who should have years of experience and expertise to share with you and your teams.

 

Look to the future and prepare response plans that clearly define the various roles that will be needed from all business teams. Working together within the organisation and with your technology partners can aid in your ability to effectively respond to any new threats while also maintaining a high level of service. Creating business resilience while maintaining business goals will continue to help build confidence among customers and employees.

 

New social enterprise is offering free support to those made redundant by Covid-19

Jobseekers can now receive free expert career coaching thanks to a new community enterprise.

The Pay it Forward Enterprise, based in Coventry, offers career advice, CV and cover letter writing as well as proofreading, interview practice and follow up support, all with a focus on improving the jobseeker’s confidence and mental wellbeing.

With over 800,000 people in the UK unemployed due to Covid-19, and the West Midlands hit particularly hard, bosses hope this will throw a lifeline to those who need it most.

The community project is supplying its services free of charge so is calling for corporate sponsors and donations from members of the public to fund the work.

Director and founder Rebecca Pay has been working in this field for more than six years through her company Pay for Precision and has put together a team of people who are all experts in coaching, mentoring and recruitment.

Their guidance is usually provided through a paid service, but the aim is to help people who have lost their job due to the pandemic.

Professionally qualified proofreader and CV writer Rebecca said: “2020 was a hell of a year and those who were made redundant have had a mountain to climb to get their confidence back and look for a job in a saturated market.

“As we come out the other side of this pandemic and opportunities increase we wanted to support those who need to get back into work with professional and kick-ass CV, and interview support and career coaching.

“We hope it will have a really positive impact on people’s mental health and make a big difference to their lives going forward.

“When you support this project, you are supporting UK jobseekers, your community, your economy and your neighbours.”

The enterprise has already successfully helped its first few entrants, who remarked on how unique and insightful they found the coaching.

Jobseeker Sarah Jooste said: “It was really good to focus our minds on how you can get to the desired outcome of the job search but also the importance of being mentally strong and resilient.

Paul, Gill, another user, who has since gone on to secure a position, added: “I would definitely say that it is a worthwhile coaching session to attend and would have no hesitation to recommend other job seekers to the Pay it Forward Enterprise CIC.”

Candidates must have been made redundant at some point since March 2020 and have proof of their redundancy, be a UK resident and agree to commit to the process, including group coaching sessions.

To get involved visit https://mailchi.mp/520d425421eb/c5z9nc6ja9 or email info@PIF.org.uk

For those interested in corporate sponsorship visit https://mailchi.mp/a7289cf8a251/payitforwardenterprise

Does the June 21st postponement change anything for businesses?

Written by Nick Gold, MD of Speaker’s Corner

With lockdown restrictions set to disappear on 19th July, we can use the time counting down to this date reflecting on the achievements we made during the last 15 months.

The business world was forced into remote , yet it was achieved with a level of ease that was a breath of fresh air with the chaos all round.  People found corners of their homes to set up a desk and chair, equipment was bought, and the initial wide eyed enthusiasm of the remote world and breakdown of boundaries between work and play was met with general positivity all round.

There is no doubt that sticking plasters were required in the beginning, but as time went on and individuals understood the semi permanency of the situation, desks fashioned from ironing boards were made more permanent, separation of areas between work and home were contrived to give that sense of different to the individual, and the majority of businesses supported as best as they could to provide the right environment.

As the pandemic progressed and there were slivers of light as the medical world started gaining an understanding of Covid-19 and the vaccine programme offered, what was thought to be, a path out of restrictions, the focus turned to looking forward.  Conversations started, from a personal perspective about what we had learnt,and what we planned to do when we were allowed, and from a business perspective the future workplace and industry changes were hotly debated.

As we ebbed and flowed with the restrictions and what we could and couldn’t do, we ingested information and opinions from the media, leading to a barrage of polarised opinions about what the future of the workplace was going to look like.  We were subjected to the two extremes of ‘remote working is the future’ as some businesses let go of all their office space and ‘as soon as we can, everyone will return to the office full time’ as other businesses focussed on the benefits of the collective energy and environment that the office can create.

But yet, when speaking to most people, at whatever level in a company, there was a general consensus that a hybrid of these two worlds was the future.  An acceptance that there were benefits of working from home, but also the office environment was a chance to generate ideas, have human interaction with people who were your colleagues, friends, and companions.

This dichotomy between the media and those having lived experiences created and continues to create an environment which fosters animosity between the team members and the management.  As the politicians announced the roadmap to release, this impression of animosity, gave a sense of wariness and a feeling of disconnection within companies.

As time progressed and society moved towards the initial 21st June date, the discussion around the return to work continued to demonstrate a split between how it was presented and what was happening on the ground.  In general, companies and staff worked together to find a solution which at the very least, gave flexibility and understanding to every team member to adapt to the business requirements for office and remote working.

While the pathway to release slipped and trust in the timelines dissipated, business realised that progress and growth in themselves was being stunted by this eternal wait on situations which they both had no control in nor any certainty that the theory was going to match the reality.  If focus initially was on remote working and ensuring that the individual was set up to work, attention switched to improving those lines of communication which people were missing from the office environment, those meetings and events that casual discussions take place, ideas were sparked and relationships developed within the teams.

Business has realised that the benefits of seeing people in a room together chatting through ideas and problems resulting in ways forward needs to be supplemented by the virtual meeting.  There is no doubt the two different types of formats of conversation have stark differences, in person much more free flowing while a good virtual conversation has the benefits of being focussed on providing resolution.

As such, this understanding of the benefits and restrictions of both types of conversation has resulted in individuals and businesses focussing their attention of what is next for meetings and events.

The question is how can these be as effective as possible in a world where we look forward to a hybrid of remote and office working being embedded in society and the coming together of faces on a screen and people in a room will deliver the impact, conversation, learning experiences and results that every individual and business needs in order to grow, develop and challenge themselves.

ACCA pays a global tribute to small businesses – the backbone of all economies – this MSME Day

ACCA (the Association of Chartered Certified Accountants) is celebrating this year’s Micro-, Small and Medium-sized Enterprises (MSME) Day by paying tribute to small businesses globally. Small businesses have taken a massive hit due to the Covid-19 pandemic, but still have a crucial role to play in the economic recovery. SMEs represent about 90% of businesses and more than 50% of employment worldwide.

To continue playing this essential role in creating jobs opportunities as well as enhancing livelihoods, small businesses rely heavily on support for access to finance, information, and environments conducive to growth.

Accountants have increasingly become trusted advisors to small businesses during such turbulent times. The Covid-19 crisis has reconfirmed this vital role and it has also accelerated other smaller accountancy firms to transform further. ACCA has almost 50,000 members working in public practice with a majority of those working in small and medium sized practices (SMPs). As such, it’s a core part of our strategy to ensure we use the power of our connections to offer support, guidance and advice for accountants working as SMPs, and their SME clients.

Head of ACCA Cymru Wales, Lloyd Powell, says:

“At ACCA, we are proud to be supporting such a special day appreciating our global small businesses. This pandemic has highlighted even more the fragility of small businesses that are a lifeline to global economies. And that’s where our global SMP community comes in.

“SMPs can help businesses develop new revenue streams, transform their business models, support growth and share best practices.

“We have created various global, practical initiatives and resources to support the SMP community in their transformational journey that is so crucial in supporting sustainable recovery of the small business sector.”

Lloyd continues:

“ACCA recently launched two global initiatives: Practice Connect– an online hub with insights, resources and innovative tools to help small practitioners stay relevant in a fast-changing business landscape; and The Practice Room – is a virtual SMP community where 15 international practitioner members host a series of discussions. Within these sessions, SMPs exchange ideas to ensure that as a community they provide the best support to SMEs worldwide. The SMPs are often joined by experts from the SME support ecosystem and we welcome participation of non-ACCA members as well.”

To also mark this occasion, ACCA has spoken to several hosts from Practice Room on why MSME Day is an important date in the diary for the SMP community.

Rosanna Choi, Co-founding Partner of CW CPA, Hong Kong, Chair of ACCA Global Forum for SMEs:

“The celebration of the International SME Day is important to raise public awareness of their contribution to sustainable development and the global economy. This is especially so when SMEs are struggling because of the pandemic that has exposed their vulnerabilities such as supply chain and operations, client experience and employee engagement. They need to recreate themselves to overcome this difficult period, and SMPs have become emergency support services to them: cashflow management, planning business resilience, navigating them through government support schemes, and transforming their businesses.”

“During the crisis, ACCA has rolled out the Practice Room and Practice Connect on a timely basis. Practice Room is the dedicated space designed to connect SMPs all over the world. Together, SMEs and SMPs are stronger and sustainable, for the betterment of the global economy. Happy international SME Day!”

Bright Amisi, Avant Advisory Services Ltd, South Africa:

“I commemorate and support the International SME Day because of their contribution to employment creation, economic prosperity and the improvement of living conditions. SMEs are the backbone of most economies especially the emerging and developing economies as they are owned by locals, with limited risk of capital flight when compared to investments by multinationals.

“I am very passionate about developing and supporting SMEs to become sustainable businesses which is why I serve as one of the hosts of the ACCA Practice Room sessions. Not only are we promoting the development of SMEs by supporting SMPs, they also happen to be key advisors to fellow SMEs. The Practice Room enables SMPs to connect with global peers, share ideas and create new alliances across geographical boundaries.”

Sarah Whale FCCA, founder of Profit Impact Ltd, UK:

“As small and medium sized businesses start to come through a prolonged tough period, they face a situation where they have three distinct priorities; the first is financial recovery to rebuild their reserves and invest in their growth, the second being supporting many of their people as they recover from uncertainty, mental strains, illness and grief. The third priority is designing and integrating a robust environmental strategy to support the combating of the climate crisis and reduce their own business risk. It’s clear the future recovery needs to be a sustainable one which will need brave leadership which takes the long-term view. Business leaders will be reliant on informed counsel from their support network, including their accountants. Through the Practice Room we have had the opportunity to discuss as a group practical actions that we can take to provide this support. Some have shared their experiences of what has worked well that others can take away to try out. The Practice Room has benefited from bringing in experts outside of finance to share their thoughts and it is exactly this holistic thinking which will help the finance community support their clients through this recovery phase and beyond.”

Anastasia Chalkidou, co-founder of Quantum, Greece:

“Today we proudly celebrate UN International SME Day, paying a tribute to the entities forming the backbone of the world’s economy and the leverage of sustainable development.  The previous unprecedent months have brought to the forefront the crucial role of SMEs in creating jobs, in promoting innovation and in maintaining social interconnections. As an ACCA member, I am proud to say that SMEs and the fundamental role of SMPs in their development have always been at the heart of the ACCA strategy. Now more than ever, via initiatives such as the Practice Room and Practice Connect, ACCA empowers accountants across the world and provides them with the proper skillset and mindset to support SMEs in the multi-faceted challenges they are dealing with, as they steer their way through the Covid-19 pandemic.”

Stacy-Ann Golding, founder of S N Golding Financial Services Ltd, Trinidad & Tobago

“Throughout my career in accounting and especially now as the owner of a SME, the opportunities for sharing my knowledge and experience has been abundant.

“The Practice Room affords me the avenue, to be open and honest in discussions about issues that are core to a SME practitioner’s ability to manage and grow the business. The insights shared and received then serve to sharpen skills and buoy the spirits. As we prepare for life after the pandemic, the conversations in the Practice Room, while a welcome distraction during the pandemic, now enable us to be ready for the recovery ahead.

“Our resolve to “winning the internal battle with yourself” and renewed confidence in ‘the art of the negotiation’ will ensure “Tomorrow’s Accountant’ will continue to play a crucial role in the business sector.”

This work also demonstrates ACCA’s global commitment to the UN Sustainable Development Goals, specifically goals eight and 17 respectively. ACCA’s global SMP community is promoting economic growth by helping small businesses recover and we are also facilitating connections and partnerships to support sustainable growth of small business sector.

 

Business leaders share best practices to create more diverse workforces

Leading figures from multiple sectors came together to share their insights and best practices to help businesses across Wales create more diverse workforces in the latest event facilitated by Chambers Wales.

The hour-long virtual discussion, attended by 74 businesses, was chaired by Cerys Furlong, CEO of charity Chwarae Teg which aims to inspire, lead and deliver gender equality in Wales, focusing on three strategic priorities: women in the economy, women represented and women at risk.

The expert panel featured Caroline Gundu, Senior Business Consultant at CGI; Adam Keen, Managing Director at Adventure Travel; Khushboo Patel, Local Director for Wales at Metrobank; and Keela Shackell-Smith MBE, Inclusion Manager at Food Standards Agency.

Ranging from the impact of flexible working to experimenting with recruitment methods, the engaging discussion explored the role of both leaders and employees in creating an inclusive working environment and the subsequent benefits for a business.

Khushboo Patel said: “Inclusion promotes belonging, purpose and wellbeing and diversity ignites that problem solving, creativity and innovation and these are things that businesses want for their people and their work. There are plenty of studies and statistics that prove the benefits of diversity and inclusion, however on the other hand we have alarming statistics that show how much work there is to do.

“As a business, why would you want to throw away the opportunity to increase performance, productivity and innovation, why wouldn’t you want a better performing team? Leaders in particular have the opportunity to create a diverse workforce and then an inclusive environment within it, because they hold influence.”

Caroline Gundu said: “Diversity is a conscious and intentional approach to diversify your workforce, to make them feel included and valued. To sustain this, it needn’t be from leadership only but leaders and people who work within the business at a grassroots level. From a diversity and inclusion perspective, we’ve been able to reap the benefits of flexible working. We’ve had much deeper conversations on important topics and it has provided more collaborative opportunities across our networks.”

Businesses could also learn practices and obtain guidance on eliminating issues around language, terminology and attitudes during the event.

Adam Keen said: “The potential to put your foot in it and say the wrong thing is real. The reality is you have to do two things: get really good HR advice and have difficult conversations to keep learning and progressing. It’s ok to challenge inappropriate language and views.”

Keela Shackell-Smith said: “We can change business culture through allyship. I’ve worked on a number of allyship training programmes for LGBTQ+, race and disability. The programmes cover definitions, terminology, history, rights, lived experiences, microaggressions and also highlight the differences between allyship and saviourism. Giving allies the tools to support, help and champion marginalised groups puts inclusion into action.”