CONNECTING BUSINESSES ACROSS THE UK
Anna
www.paramountmedia.co.uk
NOV / DEC 2023 Issue 15
South West
Tackling youth unemployment could generate £69bn for UK economy
Pressure pause: Why its OK to take a career gap
How can UK businesses adapt to the lack of warehouse space?
Sickness absence: How the UK can do better
Page 03
Issue 15 Paramount Media
Page 5 One in five SME owners planning to sell part or all of business by 2025 Page 6 Tackling youth unemployment could generate £69bn for UK economy Page 8 How businesses have adapted to the changing working day Page 11 Environmental impact of business waste management Page 13 Pressure Pause: Why its OK to take a mid-life career gap Page 14 The worry of greenwashing: How easy is it to avoid? Page 16 Feeling the pinch? How to get that payrise you desreve
Click page number or title to skip to page
Welcome
Page 20 Why fitness shapes up as the next big franchise investment Page 23 Benefits of playing a musical instrument : The positive impact on mind and body Page 24 Sickness Absences: How the UK can do better Page 28 How can UK Businesses adapt to the lack of warehouse space?
Contents
Page 04
Pinpoint your business with our online business directory
New study reveals 11% expect to downsize their company, while 16% plan to scale it up,highlighting mixed sentiment among the UK’s dominant business community
One in five SME owners planning to sell part or all of business by 2025
Call one of our team now 0151 832 3940
Business
Page 05
One-in-five (20%) small and medium-sized enterprise (SME) owners plan to sell part or all their business within the next two years according to a new studyconductedon behalf of Handelsbanken Wealth & Asset Management. An additional one in ten (11%) respondents expect to downsize their businesses over the same period. Of these, a third (31%) blame rising costs, 18% cite performance-related issues and a further one in six (15%) need to release liquidity to deal with the cost-of-living crisis. But while rising costs and profitability were among some of the catalysts for selling up or making a change, the research also shows that many owners are motivated to sell all or part of their business for positive reasons. 40% plan to release liquidity to invest in other business ventures, for example. Just six percent said they are planning to sell their entire business within the next two years, with 20% citing retirement as the driving factor, and a further 20% having to do so due to an absence of family succession options. Despite the multiple challenges faced by many SMEs, most company owners (52%) have no plans to change their firm’s size or ownership status. Furthermore, one in six (16%) are considering scaling up their operations within the next two years, indicating a welcome degree of optimism among this business segment. Christine Ross, Head of Private Office (North) and Client Director at Handelsbanken Wealth & Asset Management said: “Making changes to your business – whether you’re expanding, downsizing, selling or starting something new – can be a very exciting time, but it can also be very stressful. If you’re releasing money from your business by selling all or part of it, it can feel like a big weight off your mind when the process is finally concluded. However, there’s also the question of what to do with the proceeds of a business sale, as you enter the next chapter of your life. “This is a good time to take stock of your situation, and focus on your goals for the future. It’s important to remember that many of the tax advantages you enjoyed as a business owner may no longer be available to you, so consider taking professional advice as early as possible to help work out the best options for you. “For example, setting up a family trust prior to your business sale could make use of inheritance tax reliefs, if this meets your financial and estate planning objectives. You might also want to make the most of allowances around ‘gifting’ money to help the next generation, if it suits your personal situation, or invest in financial markets an effort to protect the value of your capital against inflation. Whatever you choose to do next, make sure you understand the risks and potential rewards involved.”
First 12 months free then only £99 per year
Study conducted by Pure Profile on behalf of Handelsbanken Wealth & Asset Management
Credit to source: Youth Employment Group
Youth unemployment risks diminishing the potential of young people and denting their long-term job prospects. But it could also be costing the economy billions in lost GDP. According to new calculations from the Youth Employment Group (YEG), reducing the number of young people not in education, employment or training (NEET) to the same levels as the Netherlands could generate £69 billion in GDP . More than 790,000 young people are currently NEET, a 23% rise over the last two years . This equates to 12.5% of all British young people across the UK, a figure that rises to 13.8% when looking at England alone. The YEG points to The Netherlands, the country boasting the lowest figure in the OECD (4.4%) , as the example to follow. In a bid to reduce unemployment and protect the life chances of young people, the YEG has today launched the “Young Person’s Guarantee”. If adopted by policymakers in England, young people under the age of 25 will receive support to access employment, training or education within four months of leaving employment or formal education. Policies to jumpstart the progress necessary to meet the standard of The Young Person’s Guarantee The Youth Employment Group calls on the government to implement five policies: 1. Proactively support young people in education who are at high risk of NEET. 2. Re-commit to Youth Hubs and extend their services to all economically inactive young people. 3. Establish a new joint ministerial brief between the Department for Work and Pensions and the Department for Education. 4. Pilot a targeted placement scheme for young people who are long-term NEET. 5. Strengthen and broaden the range of Level 2 and Level 3 pathways available to young people. These proposals were today endorsed by 60 organisations devoted to helping young people into work and training. In a joint letter to Prime Minister Rishi Sunak, they called on the government to adopt the Young Person’s Guarantee for England. Phoebe Arslanagić-Wakefield, Senior Policy Advisor at Impetus and author of the Young Person’s Guarantee says: “Time spent neither learning nor earning can permanently dent a young person's life chances, and despite the efforts of many years, the proportion of young people who are NEET remains far too high. “Based on best practice and firmly focused on what works, our recommended interventions can jumpstart the process of changing that story and improving our offer to young people, helping them to find work and get the best start, to all our social and economic benefits." Popular proposals The proposals listed in the Young Person’s Guarantee have received a warm response from members of the UK public. According to a poll by YouGov for the Youth Employment Group : • 81% of UK adults (81% in England) support the idea that young people should receive support from the government to start work, training or education within four months of becoming unemployed or leaving education. • Some 43% of people who voted Conservative at the last General Election believed that the government should do more to help young people into work. The figure rises to 71% among Labour voters and stands at 57% for all voters. • The majority (73% in the UK, 74% in England) believe that reducing youth unemployment will benefit the economy and 74% (in the UK and 74% in England) believe that such a result would be beneficial for health and wellbeing. • Some 64% of adults in the UK (64% in England) believed that getting more young people into work would make their local community safer. Tackling youth unemployment: the principles of success By failing to implement a young person’s guarantee to date, England is falling behind the standards of other developed nations. The Young Person’s Guarantee paper points to best practise both in the UK and around the world points and identifies four evidence-based success factors that must underpin any approach to reducing NEET numbers: 1. Early intervention raises effectiveness. 2. One-to-one support is vital. 3. Public employment services are central. 4. Place-based and nationally coordinated. Tony Wilson, Director of the Institute for Employment Studies and Co-Chair of the YEG, said: “One in eight young people are outside of education or employment, a figure that has barely budged in the last thirty years and if anything has been getting worse in the aftermath of the pandemic. This is a waste of young people’s potential but it’s bad for the economy and for living standards too. We should aim for far better, by guaranteeing that all young people will get the help that they need to get into employment or learning. The good news though is that if we can get this right then the benefits of acting now will far outweigh the costs of doing nothing.”
Page 06
Hybrid and flexible working have evolved how businesses approach the day-to-day in offices.Research from the Chartered Institute of Personnel and Development (CIPD)found that 66% of organisations believe that offering flexibility for advertised roles is important in attracting new candidates. These changes to office environments bring plenty of positives, and it’s forcing employers and employees alike to embrace andadapt to them. Especially if you’re a business owner or part of management in charge of decision making, it canhelp with leadership development in making these decisions. Here are a few ways businesses are adjusting their processes to account for these changes. Scheduling and timekeeping When implementing hybrid and flexible working into your working day, the most important thing to establish is what the split between office working and working from home will be. Building a routine on which days everyone commutes to the office can help keep productivity consistent while also allowing for the flexibility that hybrid working offers. Finding the right divide between building a strong office culture where your full workforce is together and working while also feeling they’re trusted when working remotely. One way you can assess which days are best for in-office is by analysing your internal data on outputs and productivity, as these numbers can help you make informed choices. One thing that’s important to note is that these days don’t have to be permanent. If you feel like they’re no longer the optimal working days as time progresses, fluidly transition ingto different days is possible with hybrid working. Keeping communication open with your workforce can help you make these decisions, as transparency will result in honest responses and reasoning as to how well the split is working. Communication As a business owner or management, a huge concern might behow you contactyour work force without feeling invasive. That’swhy communication technology that allows for everything from instant messaging to live voice and video calls is an important investment. These can be synced to your pre-existing email systems so that when meetings are scheduled, emails can be sent that attach a link to the online meeting link. This provides more flexibility when it comes to meetings, as while you might prefer everyone to be presentin person for it, those working remotely can still be included. It also can help make meetings with clients more flexible. You might have partnerships and projects with companies all over the UK (and sometimes globally) with whom you can’t always be in the same room, so being able to tune in with them no matter where they are means more open communication channels. Collaborative working Hybrid working provides a new challenge ofcollaboratingwith a colleague if they’re working from home and you’rei n the office. Investing in the right software bridges the gap between in-office collaborative working and keeping those working remotely involved. Statista Market Insights has forecast that collaborative software is on track to reach around £610 million by the end of 2023. Thanks to the developments of Cloud-based programs, there are plenty to choose from if you want one that is pre-built. Alternatively, you can invest some extra time and money into your IT team to allow them to develop bespoke collaboration software if you want something more customisable and purpose-built for your processes and needs.
How businesses have adapted to the changing working day
Credit to source: Impact
Page 09
B2B NETWORKING OPPORTUNITIES FOR DIRECTORS AND PROFESSIONALS
LOYALTY REWARDS PROGRAMME OF UP TO 80% OF YOUR MEMBERSHIP FEE
Page 08
COMING SOON...
Having a well-structured waste management plan can affect the perspectives of your business both internally and externally. Not only will it improve how the public sees you and make you more desirable to purchase from or work with, but it will make you more aspirational as an employer. This can be seen in research from KPMG finding that 20% of UK office workers would refuse a role if environmental, social, and governance (ESG) factors weren’t considered a priority by the company. Scott Hawthorne, Managing Director at Skips & Bins, who offer bin and 4-yard skip hire, stresses the importance of having the appropriate waste management and recycling strategy for businesses: “Strategy for your business is crucial, especially when you consider the amount of commercial and industrial (C&I) waste generated by the UK in 2020 was around 40.4 million tonnes.” They’ve offered insight into some of the main contributors to modern business waste and how this can affect the perspectives of your company by a wider audience. E-waste Businesses will inevitably have computing hardware that they must dispose of, which comes from things like laptops, telephones, and peripherals becoming either obsolete or simply breaking down over time. But when it comes time to remove them from your workplace, you might be tempted to bin the hardware. This contributes to something that is widely referred to as ‘e-waste’, and the UK is one of the biggest offenders globally. A study from Uswitch has found that the UK is second behind Norway in the amount of e-waste generated per capita, with around 23.9kg. This led the government to introduce stringent laws on the disposal of Waste Electrical and Electronic Equipment (WEEE), which could see you prosecuted and fined up to £5,000 if you’re found to be improperly disposing of these items. If taken to Crown Court, this fine could be unlimited. Not only does this mean that you could be contributing to landfills by disposing of these items, but you could be liable to a significant fine and further charges. This makes it increasingly important to implement an e-waste plan for your business waste. Single-use plastic From hospitality to healthcare, single-use plastics like plates, cutlery, and trays have become widely used as a cheaper alternative to buying reusable items. While it’s a great cost-saving measure, the UK government has made the decision that from the 1st of October, single-use plastics will be banned from being supplied or sold by businesses throughout the UK. While banning in their entirety might seem drastic at first glance, estimates from the government show that 2.7 billion pieces of single-use cutlery and 721 million disposable plates are used a year. Despite these huge numbers, only 10% of these items are recycled. This was announced initially in January, so businesses would have enough time to adjust their strategies and processes appropriately, such as by investing in reusable cutlery or disposable cutlery made of a more easily recyclable material like wooden chip forks. Paper waste (always check it!) Many businesses will use paper for physical copies of standard processes like schedules, contracts, and forms, and paper fibres have the benefit of being able to be recycled into brand new paper up to seven times before the new product begins to get weaker. One thing that you must think about when it comes to business waste, however, is the paper that you are recycling. The knowledge of how recyclable it is can encourage you to think that it doesn’t matter if the errant scrap of paper is thrown away, but paper still amounts to around 20% of waste each year. This makes it even more important to stick to your business’ recycling processes to make sure that any physical paper used is recycled to help curb the amount that’s wasted.
T&C's Apply
Contact us now info@paramountmedia.co.uk 0151 832 3940
Business Waste Management
Sophia The Robot
Credit to source: Skips & Bins
Issue 10 Paramount Media
Page 11
Do this and more with fantastic Paramount Points loyalty rewards on all packages
Company News, Features or Recruitment opportunities you want to share?
Environmental Impact of
Would you like to showcase your business to over 10k dedicated subscribers?
Page 14
Page 13
Pressure Pause: Why its OK to take a mid-life career gap
Around 90,000 workers in the UK take some sort of mid-life career break every year, whether it’s to travel the world, look after a loved one, or seek a new opportunity. It is fair to say that, as you jump on the career ladder, you are expected to stick to one profession or move seamlessly from one job to the next until you retire. But pressing pause and taking a mid-life career gap can have many advantages, such as reflecting on who you truly are and discovering what you want to achieve. SIA Austria, the largest ski instructor academy in Europe, offers tips on how to make the most of a career break while exploring how to highlight the skills and experience gained to a future employer. Follow your passions Taking a career break can give you plenty of time to think about what makes you tick. Gary Clark, gap year course expert and Academy Directorat SIA Austria, said: “People often have a coveted passion that’s had to take a back seat in their previous career. Sometimes, jobs can be demanding and mentally draining, meaning you don’t have the energy to pursue your favourite pastimes when you unplug for the day. “Career breaks are the perfect opportunity to brush up on skills and interests you’ve had to put aside for a while. If you have always had a soft spot for skiing, for example, this could be your chance to hit the slopes again and perfect your abilities. “Following your passions could also open the door to new, exciting career opportunities. You could finally take that ski instructor course you’ve been longing for and potentially find a job that matches your renewed skills.” Network and stay engaged Mid-life career gaps also give you a chance to solidify your professional network. When you are not busy working in the office on a day-to-day basis, you will have more freedom to attend industry events or join online groups. This way, you can get up to speed with all the newest niche trends in your sector and have a vital ace up your sleeve when the time comes to seek a new job. Don’t forget to share your thoughts and expertise on social media too. Online platforms provide you with the invaluable opportunity to network with like-minded individuals across the globe. It only takes one person to be impressed by your refreshing post to start a new, stimulating business relationship. Nurture your mental well-being More than three-quarters (79%) of UK employees have experienced burnout at some point in their careers, with 35% reporting high levels of constant stress and exhaustion. Taking a job break can allow you to rest and relax without pressing deadlines to meet. It will give you a chance to unwind, focus on your mental well-being, and recharge your emotional battery. What’s more, it provides you with plenty of time to socialise and carry out things that make you happy. In fact, meeting up with loved ones works wonders for your brain health, as it helps stimulate attention, strengthen memory, and favour neural networks. This way, when you decide to go back to work, you will feel refreshed, re-energised, and more resilient overall. Promoting the positives of a career break When you feel the time is finally right to look for a new role, you may feel nervous about explaining the gap in your CV to prospective future bosses. That said, there are ways in which you can use your career break in your favour in upcoming job interviews. For example: Be transparent –Don’t fall into the temptation of covering up a career gap by lying or extending previous employment dates. If your interviewer finds out, you may burn your chance of bagging an interesting vacancy. Instead, be completely open and transparent. People appreciate, and respect honesty, and more companies are beginning to recognise the value and benefits of taking some time off work. Talk about transferable skills –If you have used your break to take on new activities, make sure to mention them in your resume or during an interview. If you have been solo travelling across Asia or South America, it will show that you are not afraid to step outside your comfort zone. Employers like candidates who are happy to take on unusual tasks or challenges, so flag any soft skills you have acquired during your time off. Keep your friends close, your colleagues closer –When job hunting, previous colleagues can act as a valuable secret weapon in your back pocket. In fact, they can vouch for your leadership abilities, work ethic, commitment, efficiency, and professionalism. What’s more, if you haven’t quite found the ideal opportunity yet, reconnecting with your old co-workers might facilitate your job search. Whether through an internal referral or by directing you to the right hiring manager, they can play an important role in helping you transition back into the world of work.
Credit to source: Gary Clarke SIA Austria
With the current outlook on climate change, it is more important than ever for companies to work towards more sustainable measures. However, marketing this can be a difficult one. The worry of greenwashing is real – with some companies such as Coca-Cola and IKEA facing lawsuits due to their own sustainability messaging. As a small business, you don’t want to be facing these sorts of financial and reputational conflicts. Here,card supplier, UK Greetings helps us explore how small businesses can avoid greenwashing claims while still contributing to a better society and environment. Keep communication clear One way to ensure your company is accurately advertising its efforts towards environmentally friendly practices is through clear and consistent communications. It has been found that 77% of UK customers don’t understand what companies are claiming when they talk about sustainability. This can lead to confusion – such as making customers believe you are fully sustainable when really you might have only changed processes recently to reduce your carbon footprint in one area of the business. Making sure you are sending clear messaging which isn’t contradictory is a certain way to ensure your business is advertising itself fairly. Avoid overpromising Another problem that small businesses could face is overpromising to their customers. While you might be tempted to claim that your productions will reduce carbon emissions by a certain percentage, for example, if this doesn’t happen then it can cause problems and even claims against your company. Instead, make sure you are advertising your past efforts which have suitable data to back them up. Talking about how you have helped the environment - rather than how you hope to - can mean that if plans fall through, your company isn’t liable. Partnerships One way to ensure you are meeting some of your sustainability values is by partnering with other companies doing the same. If you are a local shop you might partner with reliable card suppliers, artists, or delivery services to ensure your business is making changes towards being more sustainable wherever possible. A small business focusing on clothing might try to attain manufacturers close to their warehouse and target demographic to reduce the travel mileage, while choosing sustainable logistic solutions. Making sure who you are partnered with shares the same morals and values as you is important. Not only does your messaging apply to your own company, but customers and the media will look to who you actively work with to represent these matters too. You cannot present as a sustainable company if your services have a detrimental impact on the environment or utilise practices which are harmful or unethical, for example. Have statistics ready Supporting the environment is not only about making claims that your company is making efforts towards being sustainable, but it is about being able to actionably quantify this. Your business should be able to provide data proving the claims it makes. Being unable to do so not only damage the trust your clients and customers have in your business, but it can also lead to legal action. In fact, 26% of all greenwashing lawsuits come from companies not being able to back their claims up with data. If your company claims to be reducing plastic use through changes to packaging, you need to be able to specify how much you are reducing the plastic usage, if the replacement is environmentally friendly, and if this happening across all products, for example. Being able to demonstrate your claims not only verifies your environmental efforts but it also validates your company as one which does as it says. Environmental staff If in doubt, your business could hire a professional to assist in your social responsibility management. Hiring a Corporate Sustainability Officer could mean that your business has a representative considering the environmental implications of your business procedures. If in any doubt about your company’s sustainable marketing, then you should check in with a legal team. They can ensure your business isn’t making claims that are false or unsustainable. If your company is set on making a difference to the environment, then making sure you are doing so legally is important. As a small business, it is important that your reputation remains intact. Being close to a community, and even helping environmental efforts, could be a big thing for your business - but marketing your efforts towards your impact on climate change must be done carefully. Whether you are wanting to reduce your likelihood of legal action or damages reputation, avoiding greenwashing is key – from working alongside companies with similar environmental values to sound-checking your messaging.
Life is a journey that starts and ends with family
The Worry of Greenwashing: How Easy is it to Avoid?
0151 423 0146
Page 15
Credit to source: UK Greetings
www.bluetrust.co.uk
Steve Lomax Mortgages & Financial Services
How to get that payrise you deserve
Feeling the Pinch?
Credit to source: TUC
Page 17
Amidst the cost-of-living crisis, Britons are feeling the pinch more than ever with inflation remaining high. It’s no surprise that 34% of workers said a 5% wage increase would be fair with public sector workers also increasingly locked in rows over pay. Conversations around pay can often be uncomfortable, especially during these uncertain times, however, this doesn’t mean you can’t request a pay rise if you feel you deserve it. Most employers will make an effort to retain top talent but make sure to construct your case carefully when the bottom line is boss. Here, Caroline Gleeson, recruitment software expert at Occupop, talks us through her top tips to help you achieve success. Consider your position Before launching gung ho into new contract negotiations, consider whether you’re actually underpaid. We can all feel a little undervalued at times, but you should make sure to arm yourself with the facts. Use a salary calculator to compare your pay to industry averages. Couple this with some background research into similar jobs to find out what money is typically on the table. It may also be worth speaking to recruitment consultants who have a clearer idea of what businesses in your area are willing to pay. It’s also wise to do some research into wider industry trends. Take time to understand your organisation’s hiring systems. Is your sector or location facing skills shortages which might spike rates of pay? Do you have any existing client relationships or leading industry experience that may justify a higher rate of pay? When to ask for a pay rise As with most things, timing can be everything. Making salary demands at particularly lean times for the company may look blinkered and self-centred while asking more than once per year might look greedy. It’s better to pick a landmark moment such as your performance review, the end of financial year or after a crucial business win. Pick a time at which your business may be making forecasts for the future and may be more amenable to salary discussions. Staking your claim A recent study showed that half of UK workers would switch careers for better pay, however, you can still get that increase by staying put. Before approaching your boss, make sure you have evidence of your productivity. This may include what clients you’ve brought in, how much you’ve increased turnover by or other industry-specific metrics. Simply stating how long you’ve been working at the company will not be enough to secure you a raise – demonstrate explicitly how you add value. One top tip could be to keep a record of achievements and recognition as you go. This can help to strengthen your case, particularly if it includes praise from other members of staff. Ultimately, your case should be built around quantifiable, demonstrable skills, academic qualifications, working relationships and crucially, workplace results! How to behave Asking for a raise is of course a nerve-racking experience. Recent statistics show women aged 18 to 29 as the category least likely to ask for a rise. Combat this anxiety by making sure to dress the part in clothes befitting of your more senior status and open talks by outlining the value you’ve added to the company. Obviously, you may have a figure in mind based on your prior research but prepare to compromise with your boss. Looking greedy or ill-informed may dent your chances while threatening to quit should they not meet your demands will look petulant and may affect your standing. Your body language will help you here. Sit up straight, make eye contact and speak slowly to demonstrate confidence and that you’re competent enough to be paid more. Prepare for the worst… A recent YouGov poll found that only 31% of men and 21% of women were successfully granted a pay rise. Should you be turned down, be prepared to accept with dignity but make sure to seek a clear reason for refusal. Is the company simply strapped for cash or did you fail to put forward a convincing case? If the reason is the former, ask when the company may be in a better position to comply. Also consider additional benefits. Could there be scope for a company car, free parking or healthcare insurance? Other forms of non-salary remuneration may include more holidays, flexible working hours or opportunities for workplace development. While none of these may bolster your bottom line, all can be useful when battling the current cost-of-living crisis.
Credit to source: Caroline Gleeson, Occupop
Page 16
Page 19
Vehicle Leasing Specialists www.v4b.co.uk 0800 096 6488
Page 18
www.breezedevelopment.co.uk
For every client of Paramount Media, we donate £1 to JUST ONE TREE. For every £1 donated, JUST ONE TREE will plant a tree in an area severely affected by deforestation to maximise the effect on reducing global warming. For more information contact us at info@paramountmedia.co.uk
Identifying the most promising franchise for your investment has traditionally led people to be interested in Quick Service Restaurants (QSR) and real estate franchises. However, as the landscape continually evolves, the opportunity has arisen for investors to diversify their portfolios by exploring the benefits the fitness sector has to offer. Kristen Horler, Head of Sales at Snap Fitness, shares her insights into why fitness franchises are fast becoming one of the most popular investment choices, joining traditional favourites like QSR and real estate. So why do prospective investors gravitate towards QSR and real estate franchises? The QSR industry attracts customers through its convenience and the familiarity consumers have with that brand. For real estate, there is a constant demand; there will always be a market for people wanting to buy, sell or rent properties. Yet, despite the traditional allure of these sectors, fitness franchises are fast becoming a regular member of those franchise investment portfolios and for some, the first choice for new investments. Tackling business challenges with franchising While QSR and real estate businesses are appealing, recent global and British economic challenges can give investors food for thought. Amongst these concerns is the work-life balance it offers to business owners. Operating in this industry can demand a significant commitment of time and effort. One contributing factor are the challenges around recruiting and high staff turnover, leading to ongoing recruitment and training expenses. More recently, supply chain disruption has emerged as a prevalent issue. Restaurants closed at their highest rate in a decade in the first three months of 2023, at an average rate of five per day, according to July’s figures from accountancy firm Price Bailey. Since the onset of the pandemic, the sector has been hit by skyrocketing energy costs, food inflation and high interest rates, as well as the recruitment crisis. Luckily for smart investors choosing QSR franchise brands over going it alone, the franchisor helps to mitigate these challenges with expert advice, proven HR programmes and strong supplier relationships. Entering the real estate industry presents its fair share of obstacles too. In areas where the property market is deemed to be highly sought-after, the competition can be intense. There is a good chance that competitors have already established a presence, putting new business owners at a disadvantage when it comes to brand recognition and word-of-mouth referrals. Something that a franchise brand is better equipped to address for new franchisees – with quick-start marketing campaigns and national-level brand recognition supporting customer recommendations. For those people investing in real estate businesses incorporating more than estate and lettings agencies, such as property renovation and management, market fluctuations and the revolving landscape of mortgage and lending rates have only added to the complexity of the sector. In today’s environment, profitability is increasingly tied to longer-term outcomes, in contrast to the more immediate results of previous years. The shifting dynamic calls for continued levels of adaptability and strategic planning for any prospective investors in the sector, something the franchisor leads on for the benefit of their whole franchise network’s success. Why fitness franchises are gaining ground Fitness franchises are increasingly attractive to prospective business owners and investors, in part driven by the growing trend of people prioritising their health and wellbeing. Gym membership numbers are on the increase as the industry rapidly recovers from COVID as research shows member numbers in the UK are around 10 million1. Capitalising on the trend of people placing a renewed emphasis on their fitness and growing membership levels creates a large market for franchisees – health is the new wealth. By leveraging an established business model and a steady stream of income from monthly membership fees, investors can really build up their fitness franchises, achieving a return on their investments faster and at a similar rate to QSR and real estate franchises. In fact, at Snap Fitness, we’ve bucked the trend by increasing our memberships by 14% since 2022, compared with an industry average of 3.9% increase2. Whilst there is a marked difference from QSR in the significantly reduced need for staff, whether choosing a fitness franchise that offers a staffed or un-staffed business model, recruitment is still a challenge. Yet, similarly to the strategies implemented by QSR franchises, if your fitness franchise system is prepared to invest in quality staff training, you can attract and retain loyal team members, ultimately leading franchisees to be able to delegate management tasks and have more time spare, improving their work-life balance. And although QSR, real estate and fitness businesses all have property acquisition at the outset which comes at a premium price, it is the power of the franchise model which minimises risk for franchisees. Fitness franchises like ours are popular because we don’t leave the property search to our franchisees, we have in-house specialists to take the strain. The final cherry on top for fitness franchises and the reason they are hot on the heels of the franchise forerunners? The fitness industry is rewarding! You can really have an impact on changing people’s lives for the better, whilst being around others exercising can mean you are inclined to be healthier too – a win-win. Snap Fitness is gearing up to celebrate the launch of their 100th gym in the UK & Ireland in early 2024 thanks, in part, to the rising popularity of fitness franchises versus the more traditional favourites. To find out more, www.snapfitness.com/uk/ why-franchise-with-snap-fitness
Page 20
Why fitness shapes up as the next big franchise investment
Kristen Horler Snap Fitness Gym
Page 21
Business Issue 12 Paramount Media
Genuine quality in every fit out
Page 23
For a free quote to discuss you next project please call 01928 771010
As the days get shorter, rainier, and darker, individuals find themselves with less chances to enjoy their favourite outdoor hobbies. However, these seasonal changes present the perfect opportunity to try out new indoor activities. With the shifting weather, there's no better moment to embark on the journey of playing a musical instrument. “There are incredible benefits that come with playing a musical instrument, which can enhance the health and wellbeing for both children and adults” says James Whitten, the Marketing Manager at musicGuard. Leading musical instrument insurer musicGuard has been researching the health benefits of playing a musical instrument: Increased concentration Learning a new instrument is not an easy or straightforward task. However, when putting in the time and dedication, it often leads to a significant improvement in one’s concentration skills. Being proficient in both the technical aspects of playing and learning songs shows the brain's capacity for learning new information. Furthermore, even learning how to decipher sheet music is an indicator of high concentration levels. Improved mood Making music is a great way to unleash one's creativity. Whether that is songwriting or picking up a guitar after a long day at work to relieve stress. Playing music offers enjoyable and productive ways of spending spare time. In fact, the beauty of it is that there is no pressure. For those who may feel pressured to perfect their hobby, it is important to remember that music is just that— a hobby used to unwind and relax away from the 9 to 5 grind. Effective stress relief There is no need to worry about hitting the right notes or keeping perfect timing, but crashing around on the drum-kit in the garage can be very beneficial from a mental health perspective. Studies show that just playing an instrument can effectively lower blood pressure, reduce stress and in turn, help with anxiety and depression. “Whether you are hoping to play professionally or just want to take on a new hobby, playing a musical instrument can give you great pleasure, and important wellbeing benefits. If you're looking to protect your instrument, musicGuard has got you covered” adds Whitten. Discover more health benefits on: https://www.musicguard.co.uk/benefits-of-playing-instruments
Credit to source: MusicGuard
Benefits of Playing a Musical Instrument: The Positive Impact on Mind and Body
"MCUK have always delivered with a professional yet friendly approach and thats why they continue to be one of our preferred contractors. Impeccable workmanship and a brilliant mix of skilled crafts and trades. I found MCUK the ideal partner in our new build and refurbishment projects" - Paul Morley,, Operations Manager at Morris & Spottiswood
MCUK Fitouts LTD Units 10 & 11 EBL Centre Picow Farm Rd Runcorn WA7 4UA www.mcuk-fitouts.co.uk
0207 3055 999
Credit to source: Winckworth Sherwood
Sickness Absences: How the UK can do better
News of UK sickness absences reaching their highest level since 2004 will make uneasy reading for employers, with 2.6% of total working hours lost last year. Around 185.6 million days were lost due to sickness in 2022, which is the highest level on record, with a notable rise across all age groups. Such worker malaise raises fresh questions about the state of employee health and its impact on the UK economy. Absenteeism can cost the UK £14 billion annually. Employment lawyers, Winckworth Sherwood, explore some strategies employers can use to mitigate these risks and cultivate a healthier, more productive workforce. Encouraging remote and flexible working models One potential solution is the implementation of remote and flexible working models, with their viability highlighted during the pandemic. Such approaches can help employees maintain a better work/life balance while minimising the risk of spreading illnesses. Legally, employees now have a right to request flexible working from day one of their employment and can make up to two requests during a 12-month period. The flexibility of home working can alleviate the stress of commuting, create a more comfortable working environment, and allow workers to build their lives around lifestyle or childcare commitments. 1 in 4 UK workers still work a hybrid working week, with 78% reporting an improved work-life balance. Flexible working can also include flexitime, in which an employee can start earlier or later than ‘core working hours’, and compressed hours, where an employee fulfils full-time hours over a reduced number of days. The four-day working week – a worthwhile experiment? The employment landscape abounds with companies trialling the four-day working week with no corresponding reduction in pay. Of the 61 companies who participated in the country’s largest pilot program, 56 have opted to extend the new working pattern. Employers cite benefits as more productivity and enhanced business performance. Typically, happier, more fulfilled employees are more focused and efficient in the workplace, while rested minds may be better when it comes to innovation and creative tasks. The model will free up more time for employers to prioritise their mental health and wellbeing. Mental health is the leading cause of long-term sickness absence, so affording employees more time to rest and recharge after a long break can reduce stress levels and their accompanying absences. Of course, the four-day week doesn’t come without its pitfalls, so employers will have to weigh up whether it works for their business. For instance, some companies simply won’t have the correct infrastructure of culture in place. Take time to weigh up the pros and cons and assess whether you can properly service your clients within that time. An option could be to stagger the days across your workforce so you can remain open five days a week. Incentivising employee welfare Employers have a crucial role to play in fostering a culture of wellbeing, and improving employee welfare can be a powerful step towards reducing absenteeism. According to the ONS, the occupation groups with the highest absence rates are those in caring, service, elementary and administrative positions. These may typically include repetitive, sedentary or overly demanding tasks. Make sure to support your workforce with frequent breaks, access to mental health resources and wellness programmes that promote physical activity and healthy lifestyles. Can the UK learn from the rest of the world? UK employers may do well to take inspiration from our European neighbours, such as the Scandinavian countries, who are frequently cited among the happiest regionsto live and work. Scandinavian countries typically emphasise a healthy work/life balance with shorter working weeks, longer holiday periods and generous annual leave. Flexibility is also a cornerstone of their work cultures, with employees often given the freedom to adjust their work hours to accommodate personal needs or family commitments. The focus is on a results-oriented approach that prides the quality of work over hours spent in the office. This flexibility not only enhances work-life balance but also allows individuals to work when they are most productive – for instance, early in the morning or evening.
Page 24
www.gtele.com
Page 25
Call us on
Providing ADR licensed chemical and powder transportation since 2012
Premchemltd@yahoo.co.uk
074332094394
Page 28
warehouse space?
How can UK Businesses adapt
to the lack of
Morgan Morris, Group Chief Executive, Slingsby
The number of business premises used for warehousing and logistics has almost doubled in the last decade, according to the Office for National Statistics. This has been largely driven by the massive increase in e-commerce and online retailers such as Amazon – a company that accounts for a quarter of all warehousing space in the UK. In late 2021, property agent Cushman & Wakefield predicted that the UK could run out of warehousing space within a year. Over 12 months later, demand continues to be at an all-time high, with vacancy rates having been sat at less than 2% for the past year. This is way below the rate needed to balance fluctuations between supply and demand, which is 8%. Here, with some insightsfrom Slingsby, one of the UK's leading suppliers of industrial & commercial equipment,we’ll investigate what’s behind the demand and why businesses need to adapt. What’s driving the demand for warehousing space? Where e-commerce has dominated the take-up of warehousing space over the past couple of years, recent analysis has also shown that the increase in demand is also because of stockpiling. More retailers and manufacturers are now using third-party logistics providers to store their goods, which drove almost 20% of all warehousing take-up in the first half of 2022. This is likely due to businesses wanting to make their supply chains more resilient rather than relying solely upon ‘just-in-time’, a model that is highly vulnerable to any disruptions within the supply chain. Stockpiling goods means that even if there is a disruption, the business will have enough stock to fulfil orders and keep up with customer demand. This, along with what’s seen as chronic under-development of storage space, has created a perfect storm that is affecting businesses across the UK and limiting their growth. Which industries are worst affected? The lack of space is bad news for all industries that require storage for their stock, regardless of the sector. Most industries are so intertwined with the global supply chain that struggling for space to store goods puts them all at risk of being unable to fulfil their orders. Industries that rely on the availability of many different parts, such as manufacturing, tech and automotive, could see production held up. Recent joint analysis from Savills, the British Property Foundation (BPF) and the UK Warehousing Association found that the lack of space has meant that rents have risen around 61%. This is most harmful to small businesses and those that work with slim margins, which may struggle to keep up with rental costs and could see their profits squeezed even more. Consumers may also feel the bite of this, with some businesses forced to pass on extra costs to their customers. The impacts are not just felt across specific sectors, but also in locations around the UK. Warehousing and logistics are the dominant industries in some areas, particularly in the Midlands where the concentration is known as the ‘golden logistics triangle’. Telford-based businesses are some of the worst affected by lack of space, which can have a knock-on effect on the local economy – especially since these issues inhibit the ability of businesses to expand and scale up. How can businesses adapt to the lack of space? Given the lack of space and higher costs, optimising available space will be essential for businesses to keep their operations moving as smoothly as possible. Here are some of the things that should be considered going forward. 1.Greater use of height Utilising all available space will be vital – especially vertical space. For small storage facilities, shelving units, stacking systems, and warehouse steps may be enough to maximise the height. For larger spaces or those that deal with heavy items and materials, pallet racking is an essential investment. Specialised equipment such as mobile warehouse steps and sideloaders can assist in the process of storing items at height and make it much safer and less labour-intensive. Although still uncommon, more developers are pointing towards multi-storey warehousing as a way to combat the lack of space. The UK’s first multi-storey logistics space, Segro V-Park Grand Union, is currently in development just outside of London and is planned to be six storeys high. Building mezzanine levels into current spaces may also provide a faster short-term solution. 2.Efficient storage Similar to utilising height in your warehouse is also investing in ways to efficiently store your equipment, so that it takes up less floor space. For this there are many simple but effective solutions. For example, some commonly used equipment such as steps, shelf trucks, and trolleys can be found in foldable styles, meaning that they can easily be packed away when not needed. Wall brackets can also help to store equipment such as heavy-duty ladders safely, securely, and in a way that saves space. 3.Automation Automating otherwise time-consuming tasks can ensure processes are completed quickly, as well as reduce the risk of human error. This is especially useful for FMCG companies where speed and accuracy are essential for customer convenience. Warehouse management systems and the use of AI technologies can both help towards achieving this. For example, AI in warehouses can streamline processes and help businesses to use their space more efficiently through analysis and effective planning. AI can quickly use market trends and current demand to calculate future needs, aiding in decision-making around what stock to prioritise and where to store it to avoid wasting space. Powered handling products such as powered pallet trucks and pallet stackers can also assist with tasks that are carried out by people. Essentially, they do the heavy lifting, reducing the amount of manual effort required and thus improving efficiencies. 4.Expanding supplier bases Businesses that are unable to build their own stockpiles due to space could also minimise the risk of supply chain disruptions by expanding their supplier bases. Doing so will mean that when an issue strikes, the business will be able to source what they need from different suppliers. 5.Strategic use of locations One important thing to remember is that apart from lack of space, labour vacancies are another major issue faced by the logistics and warehousing industries. Automation can partially help in combating labour shortages by making workers’ jobs easier to complete. However, future developments will need to not only consider the available space, but also the surrounding labour pool. In areas where logistics and warehousing are dominant, the competition for skilled workers will be the fiercest. Along with these adaptations, perhaps the real key to helping businesses meet their demand and thrive is the sufficient development of warehousing space. The expansion of available space might then lead to even greater demand for it, with businesses growing and increasing their own stockpiles. The report by Savills and the BPF predicts that growth could rise by 42% in Leeds, 35% in Manchester, 29% in Birmingham, and 28% in Nottingham – leading to benefits such as job creation and giving the local economy a boost. There are already signs of renewed growth in warehouse development plans, with just over 2 million sq ft of warehousing space under construction in Yorkshire alone, which are expected to be open in 2023. If this continues, the day the UK runs out of storage space may never come.
Page 29
www.balkanbuild.co.uk
Taping & Jointing Joinery Perimeter Casings
Issue 14 Paramount Media
Issue 12 Paramount Media
Drylining Glass Reinforced Gypsum Suspended Ceilings