< Previous20 Business Link www.blmforum.net FAMILY BUSINESS and decisions are made collectively, fostering a sense of ownership and unity among family members. Furthermore, diversifying leadership by incorporating non-family members into senior positions can inject fresh perspectives and expertise into the organisation. However, the success of such integration hinges on achieving the right balance of chemistry and cultural alignment. Boards must navigate these dynamics with diligence, ensuring that the chosen candidates compliment the family’s values and vision while enriching the organization with their unique insights and experiences. In parallel, fostering an environment where leadership emerges organically, irrespective of familial lineage, is essential for nurturing talent and driving innovation. By providing opportunities for growth and development, family businesses empower individuals to realize their full potential, whether from the younger generation or the wider www.blmforum.net Business Link 21 FAMILY BUSINESS Direct Gaskets family business Direct Gaskets is run by a Mother and Daughter team. The production team and factory manager are family too! Having been established for 35 years and based in Hull, they play an important role in the city’s manufacturing sector. Whilst doing this Direct Gaskets have also built up a strong reputation for supplying high quality products at very competitive prices and an unbeatable service. No matter if your gasket needs are a one off, or on-going – Direct Gaskets can help. A highly trained workforce has the experience to always manufacture high quality gaskets and joints in semi and non-metallic materials. Direct Gaskets are also proud to offer an outstanding turn- around time, no matter the quantity of your order. All of Direct Gaskets’ materials are sold in sheet form, or they can make bespoke gaskets cut from any desired material to your specifications. Direct Gaskets make standard tables such as ASA 150, British Standard Table ‘E’ and PN6/10/16/25 & 40, ranging from 1⁄ 2 ” to 32” for use within all types of pipe works which can be made from various materials to seal all types of liquids, gasses and chemicals. For more information call 01482 219655, email info@direct-gaskets.co.uk, or visit https://direct-gaskets.co.uk/ family cohort. This inclusive approach not only cultivates a pipeline of capable leaders but also fosters a culture of meritocracy, wherein individuals are recognised and rewarded based on their contributions and capabilities. Moreover, broadening the family’s collective experience beyond the confines of the business is invaluable for personal and professional development. Encouraging family members to seek exposure to diverse industries and organisations equips them with invaluable insights and skills that can enrich the family enterprise. Embracing training programs and networking initiatives that facilitate knowledge-sharing and collaboration with external partners further enhances the family’s collective expertise and builds a network of like- minded businesses for future support. Family businesses’ greatest asset is often their greatest weakness – constancy in the face of change. The desire to preserve the family legacy can lead to antipathy towards development. Yet, embracing change isn’t merely an option for companies, but an absolute necessity. Trusting in their talent, family businesses can navigate uncertainty with confidence, taking measured risks that propel them forward. For example, as sustainability initiatives gain traction, businesses are often daunted by the associated costs. However, presenting a comprehensive business case, focusing on potential revenues alongside expenses, can sure up success. Beyond regulatory pressure, supply chains are increasingly demanding better ESG reporting and performance in the businesses they work with. Family businesses hold a unique advantage here, with a wealth of historical industry knowledge and resilience to draw from. By fortifying governance structures, embracing diverse perspectives, and learning from the challenges faced by others, these enterprises can chart a course toward sustained relevance and success in an ever-changing world. Taking this further, clear strategy and vision are paramount for the success of family businesses, serving as common objectives that align teams, clients, and suppliers. Establishing a shared vision not only provides clarity on the business’s direction but also fosters buy-in from stakeholders, essential for transforming vision into reality. By encouraging open dialogue and collaboration, family businesses can harness the collective wisdom of their teams to develop a robust business plan that resonates with everyone involved. Expanding on sustainability initiatives, aligning the company’s purpose with the United Nations’ Sustainable Development Goals has been found to not only drive financial performance but also heighten chances of long-term success through social impact. Recent research underscores the correlation between clear family values, a defined business purpose, and double- digit growth. © stock.adobe.com/auremar22 Business Link www.blmforum.net PORTS & LOGISTICS Given the logistics industry’s importance in keeping shelves stocked and the country running, should there be closer involvement between the sector and the government itself? Is it time for there to be a minister of logistics? T he logistics industry has faced a lot of challenges of late, and its crucial role in keeping the country stocked and safe has been a big question. Tested during the pandemic, it was tested yet again during food shortages across the country. Now, the logistics industry is eyeing up this year’s elections and asking Logistics and governance Logistics and governance www.blmforum.net Business Link 23 PORTS & LOGISTICS © stock.adobe.com/phaisarnwong2517 governments to pay attention to a sector that may very well make or break the economy. For without a stable supply chain and logistics sector, goods from across the UK, EU and the world at large won’t make it to stores. In fact, several leading logistics associations across the country have called for the next government to have a dedicated logistics minister. “A dedicated logistics minister working across Whitehall would give us the voice to shape plans and maximise the benefits which logistics can deliver,” said Phil Roe, President of Logistics UK and chair of the cross- industry group. While it’s difficult (often impossible) to get concrete or binding answers out of politicians during an election year, concerns on food scarcity and the ability of our country to move products around in a crisis were brought to light both during and after the pandemic, 24 Á24 Business Link www.blmforum.net PORTS & LOGISTICS and a shift towards more monitoring and control of the country’s supply chains could become a necessity. It’s no secret that a lack of investment in roads and rail across the country have been felt by many, from potholes to longer road closures and roadworks lasting in some places between 6-12 months. Councils have understandably been squeezed, with several going bust, but the importance of our roads cannot be understated. Another benefit of having a minister for logistics would be in helping to ease the industry’s transition to net zero. Currently, the industry is estimated to provide £5 billion in fuel tax alone to the economy, which should give some idea to the sheer amount of fuel it burns. Expecting an immediate and sudden shift to carbon neutral is both unrealistic and potentially dangerous, as any cascade of business closures could have a knock-on effect on the ability of others to shift their goods, causing a huge hit on the economy. While logistics companies and groups do for the most part agree with the core ideals behind net zero, many are asking for a clearer roadmap to follow, with objectives and points along the way that can realistically be achieved. Having an individual or an office to address and liaise with would help make such a change much smoother, as on the current process it’s unlikely the sector will get close to hitting net zero by the deadline. Leaving aside the industry’s reliance on fossil fuels, there is also concern that the energy infrastructure required to power a complete shift to electric D Davies Turner www.blmforum.net Business Link 25 PORTS & LOGISTICS vehicles might not be able to keep up with the increased demand. If the logistics sector were to outpace government and be unable to power their vehicles, the industry would crash in an instant, but the government also doesn’t want to waste taxpayer money on installing the infrastructure if they believe the sector will drag its heels and not go through with phasing out fossil fuels. It’s a difficult situation with confusion on both sides, not at all helped by repeated scandals in government taking up the cabinet’s time, and then an election year on top of that. These decisions are naturally going to be decisions for the next government to make, but with the economy struggling on angles, there are concerns that no decisions will be made at all. © stock.adobe.com/annaspoka26 Business Link www.blmforum.net OFFICE SOLUTIONS Ensuring a smooth fit-out With many businesses looking to rejuvenate their offices in response to new working habits, forming the right team to ensure a seamless project is key. www.blmforum.net Business Link 27 OFFICE SOLUTIONS © stock.adobe.com/murattellioglu When reformatting workspaces to create the ideal office for today, business owners and leaders might assume this is a hands off process, leaving it to an office manager and fit-out company. Though this may be true and work fine in some instances, for those who are really seeking to produce a workplace that puts people first, that truly reflects a company’s vision, values, and culture, you will need most of the senior leadership team to contribute to the process, as Blueprint Interiors notes. The workplace consultants and commercial office interior fit-out specialists advise establishing the right team to achieve your aims, and this starts with the internal team to ensure a successful project. With a large number of things to consider when renovating your office, from reconfiguring a new layout to conforming to health and safety rules, as the firm states, the input and visionary insight from the senior team is “critical” to the workplace consultancy process it follows that defines your fit-out plans from start-to-finish, making sure that the project is running smoothly, on time, and to budget. With this, then, a strong leader is necessary: select a project lead to become the internal point of communication for all project stakeholders as well as for your chosen office fit-out company. This person must have the time to take on this role, which comes as a big responsibility, and the 28 Á28 Business Link www.blmforum.net OFFICE SOLUTIONS skills and characteristics to help keep things moving seamlessly, including strong organisational, communication, and interpersonal skills and a deep understanding of a company and the departments within it, its values and culture. To further establish the best team for your project one will also need a finance manager, responsible for dealing with the financial side of your office fit-out, from procurement to grants, capital allowances and other government financial incentives such as the super-deduction tax break enabling you to claim against desks and office chairs, computers, associated computer equipment, servers, solar panels, EV charging points and more equipment. Your finance manager will need a keen understanding of the myriad payment, contract, and finance options. Blueprint Interiors also suggests involving a ‘people person’, perhaps from HR or marketing and communications, to be the voice guaranteeing your corporate culture is imbued in all aspects of your new office. This person will additionally oversee change-management initiatives and keep constant communication between wider staff, the internal fit-out team, and the external fit-out company to ensure employees are central to every decision made. Also advised is a specially selected project steering group; those who will take part in workshops with workplace consultancy teams, and report back with information and knowledge gained. Usually incorporating one or two of the aforementioned roles, this group will also involve a select group of other team members. To form the perfect internal team, choose those with enthusiasm who want to create a great place to work and will become advocates for the project with peers. With a solid team, different ideas on work requirements, budgets, and deadlines can be pooled together for an effective fit-out. With the internal team organised, it’s time to focus on the external fit-out team, consisting of agents, specialists and consultants that businesses themselves do not have. This can involve those to source yourself, and those the fit-out company will provide. Businesses will likely need an external project manager, to help navigate contract and construction law, while interaction with one’s landlord will be necessary if undertaking any serious structural or cosmetic renovations, which may require a ‘License to Alter’ from your landlord. Furthermore, a principle designer is a legal requirement for www.blmforum.net Business Link 29 OFFICE SOLUTIONS companies undergoing an office fit-out, to verify that the fit- out company are mitigating the risks to health and safety in the design of an office. This person will visit the office site regularly to establish potential hazards, access restrictions, accident mitigations, et al. Then there is the design and fit- out partner, who will help in every stage of your office fit-out. It is where most of your office fit-out spend will go, so make sure to shop around, look at a company’s past projects, case studies, and reviews to get a sense of their work and request a consultation meeting. Overseeing the work to rejuvenate your office can take significant time and resources, so ensure to also select the best time and set a realistic timeframe to renovate your office to help with this process. Look to minimise disruption to your business, staff, and customers. Before any changes are made and throughout the project, ensure to clearly and regularly communicate with staff, to prepare them for the alterations, and also enable them to help you with their own ideas. While redesigning an office can be a major expense for a company, the right fit-out will increase staff productivity, satisfaction, and improve your brand image. © stock.adobe.com/DigitalGenetics New Era of Transparency: Companies House Empowered by ECCT Act 2023 Effective March 4, 2024, the Companies House wields new powers under the Economic Crime and Corporate Transparency Act 2023, marking a significant stride towards eradicating financial crimes and enhancing corporate transparency. These reforms aim to tackle the misuse of the company registration system by criminals for illicit activities, including money laundering, that have plagued legitimate businesses and individuals with unwarranted legal complications. A key change demands that companies, both at incorporation and annually, assert the lawful intent of their business operations. This includes the introduction of a compulsory Registered Email Address to facilitate direct communication and ensure compliance. These changes signal the end of using PO Boxes as registered office addresses, tightening the noose on anonymity and potential fraud. Companies House’s bolstered powers extend to querying information with greater scrutiny, demanding evidence to verify the accuracy of company details, and enhancing cross- government data sharing to combat crime more effectively. With these measures come new criminal offences and civil penalties to enforce compliance. Noteworthy is the adjustment in service fees from May 1, 2024, reflecting the augmented workload and the push towards a more secure business environment in the UK. Businesses must stay vigilant and promptly address any communication from Companies House to avoid penalties or suspension. The new measures are accompanied by new criminal offences and civil penalties to help with their enforcement. The ECCT Act also introduces other measures, including identity verification and accounts reform, but these will not be introduced until a later date. For assistance with navigating these new requirements, our team is ready to support your company through these transitions, ensuring compliance and peace of mind. To find out more, visit www.aprobinson.biz, email andrew.robinson@aprobinson.biz, or call 01472 345888.Next >