Businessmonth april14

April 2014 l ISSUE 42PRICE £2.50 (Where sold)

INCIS IVE , OBJECTIVE , INDEPENDENT

ON THE HOPNORTHERN IRELAND'S CRAFT BEER REVOLUTION

37 April 2014 BUSINESS MONTH

CONTENTS

WELCOME tothe April edi-tion of Busi-ness Month,my last in this

particular hot seat.This month we’re taking a

look at everything fromstarting out in business in ouryoung entrepreneur featureand, at the other end of thescale, at retiring in our sec-ond Focus On feature.

Our cover story exploresthe growing world ofNorthern Ireland's craft beerindustry, Jim McCauley takesa drive in a Honda, our travelpages head to the Canariesand The Chairman gets outand about.

Around four years ago wewere beginning to plan thecreation of Business Monthwith a vague idea for a 64-page magazine which wouldbe newsworthy, interestingand just a little bit fun (henceThe Chairman), and of course,all focused on business.

Certainly we’ve had plentyof the latter in the followingyears and I hope you’veenjoyed reading the maga-zine, one which has taken ona momentum of its own.

From the first issue inOctober 2010, which I eagerlywaited for at the end of aprint line in the early hours ofthe morning, to this magazinein April 2014, which was oneof my last tasks at theBelfast Telegraph before get-ting married, it’s been anabsolute pleasure.

Thank you,David

Editor’s noteDavid [email protected]

BUSINESS MONTH 124-144 RoyalAvenue, Belfast, BT11EBEditor - David Elliott

Sales manager - Jackie ReidContact: +44 2890 264070 or email:[email protected]

Design and production: www.pm81.comBusiness Month is an imprint ofIndependent News and Media (NI)

FEATURES12 Analysis: How emotionalcomfort could cost investors14 Analysis: Why it makes goodbusiness sense to fully utilisewomen in the workplace18 Insight: Why the number ofsmall independent breweries areincreasing all the time26 And I’ll tell you anotherthing: Adrian Bradley discussesthe impact of the internet28 SME: Why the Kane family’srapeseed oil is set for exportgrowth, despite being born outof chance

FOCUS38 Young entrepreneurs: Start-up assistance and ongoing sup-port is on hand for NorthernIreland youngsters42 Retirement: It takes a lot ofplanning to ride off into thesunset once you stop working

OFFLINE46 Out to lunch: Ikea’s ChristieGregg tells Joris Minne how theglobal retailing phenomenonhas kept a sense of intimacy48 Day in the life: Brian Clerkintalks about going from fromtrainee to managing directon50 Leave the car at home:Why Honda’s Tourer is leavingits considerable mark58 The Chairman: Plenty ofevents to stay busy62 Last Word: With NickLeeson 58

COVER STORYTASTE OF SUCCESS

Why breweries’ thirst forfurther growth seems

to be unquenchable

14

26

46

4 BUSINESS MONTH 7 April 2014

NEWS BITES

16.6%Roads

26%Power

24.5%Water

24.2%Telecoms

23.1%Rail

22.8%Airports

Firm pumps £3m intoresearch and designA BANGOR company is invest-ing £3m in research and devel-opment projects at its newheadquarters in Co Down.Whale, also known asMunsterSimms Engineering, designs andmanufactures pumps, pipework,water heaters, space heaters,leisure cookers, taps, showersand accessories which can befound in boats, caravans, andrecreational vehicles all over theworld. The company has threemanufacturing sites, two in Ban-gor and one in California andholds 17 patents worldwide.

Interest rates ‘couldrise by end of year’UK interest rates could rise assoon as the end of this year, asenior banker at Barclays hassaid. Kevin Gardiner, chief in-vestment officer for Europe atBarclays, said estimates for theBank of England to raise rates in2015may be out by a fewmonthsand there was a possibility astronger UK economy couldforce the bank to hike beforethen. “If I had to stickmy neckout, I would say the Bank of Eng-land will be the first of the bigcentral banks to raise interestrates and it's possible it couldhappen later this year,” he toldthe Belfast Telegraph.

Republic’s GDP is setto increase by 1.9%GROWTH in the Republic — oneof Northern Ireland's main trad-ing partners — is set to pullahead of other peripheral euro-zone countries, it has beenclaimed. The EY Eurozone fore-cast said Irish GDPwould in-crease in 2015 by 1.9%, by 2.5%in 2016 and 2.8% in 2017 —pulling ahead of other memberstates like Spain and Portugal. Incontrast to Ireland's recoveryrate of 1.9%, Spain would returnto growth at a rate of only 0.8%.

Top packaging firmcreates 100 new jobs

AMAJOR packaging firm inwest Belfast is creating 100 newmanufacturing jobs in an expan-sion prompted by growth inoverseas markets. Delta Printand Packaging, whichmakespackaging for big-name clientssuch asMcDonald's, Nokia, Kel-logg's and Jacob's — of CreamCrackers fame—will employ269 people following the £40minvestment. The company, whichwas founded in 1981 by westBelfast entrepreneur Terry Cross,also hasmanufacturing centresin China and India, as well as itsfactory in KennedyWay Indus-trial Estate.

John Lewis store isunder fresh discussionPLANS for a John Lewis depart-ment store at Sprucefield couldbe a step closer after the retailpark's new owner vowed to trav-el to Northern Ireland to discussit with planners and politicians.Proposals by the departmentstore giant, one of the UK's mostsuccessful retailers, to open up at

the site outside Lisburn have suf-fered numerous setbacks in thepast 10 years since the would-bedevelopment was first mooted.

Enterprise zone willlever growth: MinisterTHE introduction of a pilot en-terprise zone in Coleraine is “an-other tool to lever economicgrowth”, the FinanceMinisterhas said. Chancellor George Os-borneannounced in his Budgetyesterday that a site close to theUniversity of Ulster campus inthe townwould be the locationof a pilot enterprise zone. It is al-ready the planned location of anew £20m data centre to be setup by UK company 5NINES,which will be able to avail of en-hanced capital allowances, thebusiness incentive which willapply in the zone.

Firm to provide sandfor 2014 US OpenA COOKSTOWN firm is helpingproduce the sand for the 2014 US

Open Golf Championship. CDEGlobal has sold its first “modularwash plant” —which cleanssand and aggregates — in theUSA to GSMaterials, a family-owned company that has been inoperation since 1984, located inBurlington, North Carolina.

Haircare companybuys four US brandsA BANGOR-BASED haircarefirm has bought over four fa-mous brands from a California-based rival to boost its marketshare in the US. Denman Inter-national Limited has announcedthe acquisition of the trading as-sets of San Diego corporation,The Bobby Company. TheMagi-cap—which is used in colouringand highlighting— and threebrushes — the Starflite, Black Di-amond and The Original VentBrush— are well-knownwithinthe global hairdressing industry,and the acquisition will enableDenman International to accessmany new export areas for itsDenman-branded products.

TOP CLASS: Taking the Overall Business of the Year title at the Belfast Telegraph Business Awards spon-sored by British Airways last month was AJ Power. Presented the award to managing director Ashley Pigottis Keith Williams, executive chairman for British Airways and Richard McClean, managing director, BelfastTelegraph alongside British Airways and Christine Wright and Jayne Deasy

Global infrastructure requirements $tm


NEWS BITES

PUBLIC private partnerships —PPPs — are “the most credible”method for overcoming North-ern Ireland’s infrastructuredeficit, according to RICS, theRoyal Institution for CharteredSurveyors. It says there must bea serious debate about extend-ing the use of PPPs.Ben Collins, RICS NorthernIreland director, says: “It is vitalthat investment in infrastruc-ture in Northern Ireland isincreased. This is essential forNorthern Ireland to becomemore competitive and to be ableto continue to attract highlyvaluable inward investment.“The first priority should befor the Northern Ireland Execu-

tive to move more money fromcurrent to capital spending. Butthe research supports PPP as anadditional viable solution to thecurrent infrastructure invest-ment deficit and RICS is alsocalling on the Northern IrelandExecutive to play its role in rais-ing awareness and understand-ing of the potential benefits ofPPP for all parties involved.“PPPs have had something ofa bad name due to a small num-ber of high-profile projects, butwhen implemented well theyhave become recognised as animportant solution globally andhave the potential to enableNorthern Ireland to makeinvestments in schools, hospi-tals, transport and other infra-structure that otherwise might

not be possible. The report thatRICS has published presentsexamples of where PPP projectshave been successfully imple-mented and is intended to helppromote best practice.”Professor Alastair Adair,RICS member and Pro ViceChancellor of the University ofUlster, said that the NorthernIreland Audit Office had con-cluded there is more scope forthe use here of the PrivateFinance Initiative and otherforms of PPPs.“Northern Ireland needs totake cognisance of global bestpractice in PPP to delivermodern infrastructure require-ments to stimulate growthand underpin our economiccompetitiveness,” he argued.

RICS calls for far greater use of PPPs

▲ EMPLOYMENTFourteen thousand morepeople were employedin January in NorthernIreland compared witha year earlier. Eighthundred and seven thou-sand people are now inemployment in theprovince.

▲ HOUSE PRICESAverage house prices inNorthern Ireland haverisen for the ninthsuccessive month,according to the RICS andUlster Bank ResidentialMarket Survey.

▲ NEW CARSThere was a 20% rise innew car registrations inNorthern Ireland inthe last quarter of 2013compared to the previousyear. This was the highestlevel since 2009.

▲ FARM PRICESFarmland prices inEngland and Wales roseby 14.3% last year. Reliablefigures for NorthernIreland are not availablebecause of the smallsize of the market.

▼ CONSUMER OUTLOOKThe GfK/NOPUKConsumer Confidenceindex remains at a six-yearhigh.

▼ SHOPPING TRENDRetail footfall was down5.1% in Northern Ireland inFebruary — the seventhsuccessive monthly fall.

▼ EARNINGSIncomes in real terms hasfallen every year from2008 to 2013, according todata published by theOffice for NationalStatistics.

NORTHERN Ireland’s first‘enterprise zone’ is to be inColeraine, Chancellor GeorgeOsborne announced in theBudget. The decision followedconfirmation that around 300jobs are to be lost in the townwith the transfer of driver andvehicle licensing to Wales.Enterprise zones in Englandbenefit from enhanced capitalallowances and business ratesrelief. But the Budget paperssuggest that Coleraine’s enter-prise zone will benefit onlyfrom the enhanced capital al-lowances, which provide 100%relief for businesses on expen-diture on qualifying plant andmachinery in the first year.Other enterprise zones arelikely to follow.Coleraine’s enterprise zone isadjacent to the University ofUlster’s campus, close to wherethe Project Kelvin transatlanticcommunications link with theUnited States comes ashore. Itwill host the international datacentre, 5NINES, a £20m proj-ect. This will initially employ15 people, but several high-technology businesses may nowbe attracted to the area.CBI’s senior policy advisorDavid Fry responded: “Datingback to our submission to theGovernment after the publica-tion of last June’s EconomicPact, we made it clear that theintroduction of enterprise zonestatus, providing EnhancedCapital Allowances (ECA), may

have some localised regenera-tion potential.“However, only certain com-panies will benefit from ECA’s— usually existing large, capitalintensive and profitable compa-nies — so to have the local suc-cess desired, the proposedenterprise zone should focus oneconomic activity where it isbest undertaken, with a poten-tial view to building on specificclusters and sectors in order toachieve the best impact. It

therefore makes sense to locatethe zone near the University ofUlster campus in Coleraine,thus seeking to maximise theexisting technology and high-speed transatlantic connectivi-ty already in place throughProject Kelvin.”The CBI also welcomed theBudget decision to provide start-up aid to improve regional airconnectivity, which it said couldlead to new routes at NorthernIreland’s three airports.

Coleraine in Enterprise Zone lead

Coleraine is to be Northern Ireland’s first Enterprise Zone

PAUL GOSLING

PAUL GOSLING

NORTHERN Ireland’s economycould benefit by £400m a yearif our financial services indus-try is supported to grow,according to a report from PwC.This is equivalent to over 1% ofNorthern Ireland’s GDP.Ian McConnell, PwC forensicspartner in Belfast, explained:“We are seeing many financialservices institutions looking atways to improve their UKregional footprint, so govern-ment support in the form ofincentives for financial servicesbusinesses seeking to locateactivity outside of Londonwould be welcomed.“By encouraging more region-al investment, the FS industrywill be able to access a widerpool of resources and at a lowercost than would be possible inLondon and the recent steadygrowth of financial and busi-ness services in Northern Ire-land is just one example. In thelonger term, the stronger the FSindustry across the UK, the bet-ter it will be able to maintain itsglobal competitive position.”PwC is calling on UK and EUregulators to ensure that reformof financial services is based onmaking them better, rather thansmaller or even just safer.Kevin Burrowes, PwC’sUK financial services leader,commented: “We are seeingfinancial services organisations

respond to the challenge by notonly complying with currentregulation, but also preparingto comply with the wave of fu-ture regulation put in place toreduce the risks of future crises.“Banks are also investingheavily in improving internal

culture and ways to ensure thatthe customer's interests lie atthe heart of decisions.Customers will start to see ashift in behaviour from banksand will feel like their banksare engaging with themmoreand putting their needs first.”

THE Northern Ireland Assem-bly’s enterprise, trade andinvestment committee hasexpressed concern at the highcost of electricity in NorthernIreland.The Manufacturing NI lobbygroup told the committee thatelectricity prices in NorthernIreland are among the highestin Europe.The committee has proposed aseries of reforms, along with areview of how electricity genera-tion and distribution costs couldbe mademore transparent.The MLAs were particularlyconcerned at the way the highercosts for electricity generatedby renewable sources were

passed on to industry and con-sumers.They called on theDepartment for Enterprise,Trade and Industry and theUtility Regulator to review theway in which renewable gener-ators are rewarded.They sug-gested that the price paid forgeneration from renewable bedecoupled from the price paidfor fossil fuel generated elec-tricity, while ensuring a reason-able rate of return for all typesof electricity generation.The committee also conclud-ed that urgent steps are neededto improve Northern Ireland’sconnectivity with other regions.Mutual Energy should providea permanent solution to the

faults and interruptions thatdog the Moyle Interconnectorwith Britain, it said, while thePlanning Appeals Commissionis urged to make an early deci-sion on the North-South Inter-connector.Manufacturing NI welcomedthe report. It argues that highenergy costs are causing North-ern Ireland to lose competitive-ness, investment and jobs. Itadded that the current system“unduly rewards electricity gen-erators at the expense of all cus-tomers”.In a statement it said:“Some electricity generatorshave a 79% gross margin and anaverage across the industry of49%.This is unsustainable.”


NEWS BITES

PwC: Financial services sectorcould add £400m to economy

PwC would like to see government incentives for financial services busi-nesses seeking to locate activity outside of London

Assembly calls for action on energy costs

THE TOURISM sector gener-ated £834m for NorthernIreland in 2011, substantiallyless than any other UKregion, according to figuresjust released by the Officefor National Statistics.Thesector was worth £125bn tothe UK as a whole.However, the sector body,the World Travel andTourism Council, argues thatthe UK is missing vasttourism revenues throughnational policies related tovisa requirements and othertravel restrictions imposedon potential foreign visitors,including those from China,the world’s fastest growingtourism market.According to the WTTC,tourism revenues account for3.5% of UK economic activityand grew by 3.4% last year.However, it predicts growthwill fall to 2.5% this year,because of tourist accessproblems, high rates of airpassenger duty and a higherrate of VAT on the hospitalitysector than is levied by somecompetitor nations, includ-ing the Irish Republic. WTTCpredicts that the tourismsector will grow globally by4.2% this year.But enterprise ministerArlene Foster says NorthernIreland’s tourism economy isset to grow.”The past twoyears have been unprece-dented for tourism in North-ern Ireland,” she said. “Wehave proven that not onlycan we can host majorevents, we can host them ona scale that makes the watch-ing world take a second look.”She predicted that theGiro d’Italia in May willattract 140,000 tourists toNorthern Ireland.

Lagging localtourism sectorset to grow,says Foster

PAUL GOSLING


NEWS BITES

THE SMALL business rate reliefscheme is to continue into thenew financial year, but will beevaluated, financeministerSimonHamilton has an-nounced.A positive evaluationcould lead to its extension or re-form beyond the planned end ofthe scheme in April next year.“The scheme provided much-needed support to businessesthroughout Northern Irelandduring a difficult economicperiod,” said Mr Hamilton.He also announced the exten-sion of a relief for the house

construction sector, with thecontinued exemption of rateson empty homes built duringthe property book.“Although the housingmarket is showing signs ofrecovery, the imposition ofrates on builders holdingstocks of unsold houses builtspeculatively during the hous-ing boom will not help therecovery of the construction in-dustry in Northern Ireland,”said Mr Hamilton.“This exemption, whichapplies to a particular genera-tion of properties badly affectedby the housing crash, will be

extended for an additional 12month period. It is my expecta-tion that, given the recentemerging signs of increasedsales in the housing market,numbers in receipt of thisexemption will start to fallsubstantially in the next ratingyear.”In a separate announcement,the finance minister encour-aged businesses to make use ofthe Empty Retail Premises RateRelief Scheme.This has been used over thepast two years by more than200 businesses that havemoved into empty retail units.

Extended small business raterelief to undergo evaluation

The small business rate relief scheme is to continue into the new financial year

PAUL GOSLING

LONDONDERRY is theUK’s first ‘WorldHost’ city,following an extensive pro-gramme of customer servicetraining for 4,000 front-lineworkers in the city’s hospi-tality sector.Participatingbusinesses signed-up to apledge to deliver customerservice excellence.The success of the World-Host programme in lastyear’s City of Culture hasencouraged the Departmentfor Employment and Learn-ing to now roll-out thescheme across more ofNorthern Ireland.Employment Minister, DrStephen Farry, explained:“WorldHost has proven tobe extremely successfulacross Northern Ireland,with my department’sSkills Solutions Servicehaving funded over 7,000individuals to receive thetraining, with 4,000 ofthose based in Derry. Iwould like to take thisopportunity to announcethat my Department willcontinue to fund WorldHosttraining for a further threeyears up to 2017.”He added: “The tourismand hospitality sector isextremely challenging. Itplays an important role inthe economic well-being ofNorthern Ireland, whichis why I have made it apriority sector for develop-ment. In order to grow ourlocal economy, I wouldencourage employers torecognise the importance ofupskilling and reskillingtheir staff and staff toseize the opportunity toadd to their skills basethrough programmes suchas WorldHost.”

Derry takes‘WorldHost’lead as firstcity in UK

City banking still self-serving ‘old boys’ club

IF you thought it was only con-spiracy theorists that saw theCity as a mutual back-scratch-ing club of old boys acting en-tirely in their own interests,think again.To sell a £1.7bn stake in theRoyal Mail, the government hadto hire an investment bank torecommend seven investmentbanks to persuade other invest-ment banks to buy the shares.

These same bankers and theirfund-manager peers deal witheach other on dozens of similardeals. This time, it was Lazardacting for the seller, UBS andGoldman Sachs among those li-aising with the buyers. Nextweek, on the next deal, it will beUBS advising the seller, Lazardtalking to buyers. Same names,same faces.The National Audit Officesays the government should nothave relied so much on Lazard’s

advice — it should have found avaluer outside of the City. Niceidea, but as the Business andEnergy Minister Michael Fallonsaid: “Whose advice should wehave taken, a doctor’s?”The fact is, despite all the talkof breaking down the too-big-to-fail banks that run the Cityand Wall Street, there are evenfewer, more powerful banksnow than ever before. Conflictsof interest are growing, not de-clining in number.

JIM ARMITAGE

owns Facebook shares that givehim 61.6% of the voting powerin the Californian firm, the fil-ing shows.His net worth ballooned lastyear as Facebook’s stock morethan doubled in value,Bloomberg reported.Zuckerberg’s total packagelast year was $653,165, downfrom $1.99m in 2012 and relat-ed largely to his use of privateplanes, as part of his securityprogramme, the filing also said.He reaped a $3.3bn (£2bn)gain last year by exercisingstock options in the social net-working company he foundedat Harvard University while thewindfall saddled Mr Zucker-berg with a huge tax bill.It marks the second straightyear that Mr Zuckerberg has re-alised a huge gain on the hold-

NEWS BITES

FACEBOOK’S Mark Zuckerberghas fallen into the $1-a-year cat-egory.Zuckerberg (29), who is Face-book chief executive officer aswell as the 22nd richest personin the world as ranked by theBloomberg Billionaires Index,was paid $1 (60p) in salary for2013, according regulatory fil-ings in the US. That reductionis down from a base salary of$503,205 (£300,000) in 2012,the year of Facebook’s IPO.The $1 salary is well knownin Silicon Valley circles for thealready rich.Apple late co-founder SteveJobs helped popularise thepractice while all in the catego-ry own huge equity stakes intheir own companies.Zuckerberg's total wealth isaround $27bn (£15bn) and he

Facebook bossjoins $1-a-yearrich man’s wage

ing that he has accumulated inFacebook since he started thecompany in 2004. In 2012, hemade $2.3bn off his stock op-tions.Mr Zuckerberg has now ex-hausted his supply of stock op-tions after exercising 60 millionof them last year a price of 6cents (3.5p) per share.

He then sold 41.35 millionshares for $55.05 dollars (£33)apiece in December, primarilyto pay for his tax bill on thegains.Mr Zuckerberg and his wife,Priscilla Chan, also donated 18million Facebook shares to aSilicon Valley non-profit organ-isation.


Facebook’s MarkZuckerberg waspaid $1-a-year insalary


NEWS ANALYSIS

SINCE 2008, investorshave been questioningwhether it is inflationor deflation thathaunts them. One

might imagine that by now wewould be closer to knowingthe truth but, in our experience,the answer to these ‘either/or’questions is almost always‘neither’. When the two optionsare polar opposites, some com-bination inevitably turns out tobe the true path.Jonathan Dobbin, Wealth andInvestment Management, Bar-clays Northern Ireland, looks athow the need for emotionalcomfort across the investmentexperience might cost the aver-age investor around 3% peryear in foregone investment re-turn, and pinpoints some of thebehaviours to watch out for.The problem with us humansis that just when things areabout to take a turn for the bet-ter, when markets are about tobottom out and the best invest-ment opportunities are risingto the surface, we often bottleit.By merging the best of classi-cal finance with the evolvingideas of behavioural finance,we have developed solutionsthat can help investors to try tomaximise returns, while alsohelping them to manage thelevel of emotional discomfortthey may feel over the course ofthe investment journey.There are several tools thatcan be used to compensate forthe various knee-jerk reactionswe come across at variousstages of the investment cycle.At the core of this sits our Fi-nancial Personality Assess-ment™, a process which allowsus to pinpoint how individualinvestors are likely to respondat each of these three key stagesin the investment cycle:Rising markets: Herding andthe fear of missing out.As markets soar, enough goodnews stories can turn reluc-tance into a fear of missing out.It now feels comfortable beingin the market because the in-vestor is ‘with the herd’, and be-cause a sustained period of

When emotions ruleJonathan Dobbin, Wealth and Investment Management, Barclays,Northern Ireland, looks at how comfort investment can cost...

positive results has helped toblur any fear of loss and per-ceptions of risk. Tools such asdelegation (the use of activemanagement and advisors)allow investors to buy pre-planned emotional insuranceand expertise at an acceptableprice at the start of their invest-ment journey.

Signs of trouble: Referencepoints and the perils of buyinghigh.The point at which an in-vestor enters the market fixesin their mind a reference pointagainst which further gains andlosses are judged. If an investorenters at the top, the earlystages of the investment cycleare experienced as losses. Dur-ing this stage, investors aresometimes slow to respond toindicators of a potential crash.A potential course of actionmight be to purchase ‘downsidedefence’, insuring the portfolioagainst large drops when get-ting into the markets, which

can reduce the possibility ofcatastrophic losses, along withthe fear of catastrophic losses.The sell-off: Emotions winover.When markets are falling,loss aversion and denial tend tocause investors to hold on totheir investments — it hurts togive up on a once-hopeful in-

vestment and, moreso, to turn apaper loss into a real loss. Butin the meantime, stress andanxiety build up. Most of thetime, when investors sell incrises it is because they haverun out of the emotional re-silience needed to hold invest-ments through the fear andanxiety and it is one of the mostcostly financial decisions an in-vestor can take. For someonestrongly inclined towards ‘tak-ing action’ when faced with achallenging situation, inactioncan make a stressful time evenworse. A good strategy here isto look for small changes thatcan be made to the portfolio, al-

lowing the investor to fulfil theneed to ‘do something’. Better alittle action, mostly harmless,than costly capitulation.Those who advocate the max-imising of risk-adjusted returnsat all costs often forget that in-vestors have emotional needstoo. In our view, what investorsrequire are anxiety-adjusted re-

turns, which takes ‘beinghuman’ into account and in-volves thinking proactivelyabout how the comfort we allcrave along the investmentjourney can be acquired ascheaply and efficiently as possi-ble.That said, it’s important torecognise that no matter whatstrategy you take towards in-vestment, you can still losemoney.Nor are we suggesting that fol-lowing these approaches willdefinitely ensure that returnswill be greater or losses smallerthan they otherwise would havebeen.


ANALYSIS

Empowering womenRoseann Kelly explains why it makes good business sense tofully utilise the largest underrepresented group in our economy

INTERNATIONALWomen’s Day wasmarked last month; theday, which has beenobserved since the early

1900s, celebrates the achieve-ments of inspirational womenand empowers individualsacross the globe. From busi-ness conferences, networkingevents and political rallies tocraft markets and theatre per-formances, the occasion wasmarked under the theme of‘inspiring change’.The sentiment behind Inter-national Women’s Day is onewhich, if it were to be em-braced throughout the year bythe business community inNorthern Ireland, has thepotential to inspire economicchange on a global level.Businesses of all sizes, fromevery sector and industry, owetheir success to their people.Before we can judge thepotential of our business, weneed to look at that of the peo-ple within it. The best leadersare created through inspira-tion, motivation and empow-erment and the importance

boards compared to companieswith no women on their boards.In other words, driving lead-ership is not only the rightthing to do, it also makes goodbusiness sense, and as femalesremain the largest underrepre-sented group in enterprise inNorthern Ireland, here lies ourgreatest untapped economicresource.With this in mind, nextmonth we will host the firstInternational BusinessWomen’s Conference in Belfast.IBWC 2014: ‘Creating a NewEconomy’ will bring togetherbusiness people from across theglobe to explore universalissues and themes, to facilitatevaluable networking opportu-nities and create long-lastinginternational partnerships.Delegates will hear from thelikes of Carla Busazi, editor-in-chief,Huffington Post UK;Helena Morrissey, founder ofthe 30% Club; Anna-Lise Kjaer,CEO and founder of Kjaer Glob-al; and Dell entrepreneur inresidence , investor and mediapersonality Ingrid Vandervelt.Our VIP guests include theFormer US Secretary of StateHillary Rodham Clinton, andwe look forward to welcoming

of ongoing skills developmentcannot be underestimated indriving business growth. North-ern Ireland is abundant withentrepreneurial talent so it isvital that we give individuals ofall levels the tools and opportu-nities they need to grow profes-sionally and ultimately drivethe local economy. Whether thisbe through one-on-one training,a mentorship programme orfacilitated networking events,leadership development mustbe centred around enriching,empowering and unlocking thepotential of the individual.Evidence proves that compa-nies and economies will be mostcompetitive and successful ifthey empower and encourageleadership development amongthe best talent; both male andfemale. Notably, the McKinsey‘WomenMatter — 3’ study(2009) reported that companieswith more women in top man-agement tended to have anoperating margin at least twiceas high as those in the bottomquartiles. In their 2010 study,‘Women at the top of corpora-tions: Making it happen’, theyreport a 41% higher return onequity for companies, with thehighest share of women on their

international delegates fromUS organisation Vital Voices,which works in partnershipwith Bank of America to facili-tate mentorships for womenleaders through this impor-tant project. We have thesupport of First Minister PeterRobinson and Deputy FirstMinister Martin McGuinnessand the Department of Enter-prise Trade & Investment viaMinister Arlene Foster MLA.This represents our biggestevent to date. Women inBusiness NI seeks to showhow a small, ambitious organ-isation can achieve greatthings by looking outward, byreaching out to global connec-tions and encouraging entre-preneurial support. We hopethat the Northern Irelandbusiness community and ourinternational colleagues andpartners will join us, to helpinspire a change that will befelt throughout the local econ-omy and beyond.

Roseann Kelly, chief executive,Women in Business NI

ECONOMY WATCH

BurdenBoth the UK and Ireland are havingsick economies, but there are now

though the fiscal pain will continue

BUSINESS MONTH 7 April 2014

LAST month’s Budgetrepresented GeorgeOsborne’s 11th ‘fiscalevent’ as Chancellor, ifyou include five Bud-

gets, four Autumn Statementsand two Spending Reviews. TheChancellor has two more to gobefore the next General Elec-tion. Security and secure werethe watch words and appearedeight times in the speech with“delivering security for the peo-ple of this country”, the Chan-cellor’s vision and long-termplan.As expected, the economicgrowth forecasts were upgrad-ed significantly, representingthe biggest inter-Budget revi-sion in 30 years.The UK economy is now ex-pected to see growth acceleratefrom 1.8% last year to 2.7% in2014, easing to 2.3% next year.The stronger the UK’s econom-ic recovery, the better forNorthern Ireland, as this trans-lates to a more robust recoveryhere too. We expect growth of1.5%-2% this year up from anestimated 1% for 2013.A stronger UK economic re-covery is good news for thepublic finances too, translatinginto more tax revenue, less ex-penditure on unemploymentbenefits and less governmentborrowing. Indeed, throughfaster economic growth andBudget 2014 measures, the Of-fice for Budget Responsibility(OBR) now estimates that£99bn less borrowing will berequired between 2012/13 and2017/18 — equivalent to theUK’s entire Education budget.However, the UK is still set toborrow £95.5bn in just the cur-rent financial year.As the Chancellor noted:“There can be no economic se-curity if there is no control ofthe public finances.”However, whilst the public fi-nances are improving, it is froma horrendous state to some-thing slightly less dire.Claims that the deficit isfalling are often misunder-

stood. This means that the an-nual deficit’s share of GDP isfalling, but until this turns intoa surplus the overall stock ofdebt will continue to rise.Until then, the Governmenthas to keep on borrowing.Some £572bn is still set to beborrowed in the seven years to2017/18 — 20 times the annualoutput of the Northern Irelandeconomy.UK central government debtinterest payments for 2014/15alone amount to some £53bn —more than the UK spends onDefence (£38bn).In 2009/10, the annual deficit(or net borrowing) was 11% ofGDP. This is set to fall from6.6% this year to 5.5% in2014/15. But this still remainsone of the largest deficits any-where in the developed world.Within the EU, only Spain andCyprus have higher budgetdeficits in 2014.The UK’s annual deficit willnot fall below the EU’s Stability& Growth Pact deficit ceiling of3% of GDP until 2016/17. As aresult, the UK will have exceed-

ed this deficit ceiling for eightsuccessive years.The UK’s fiscal difficulties arestructural as opposed to cycli-cal. This means economicgrowth on its own will not re-duce the deficit, hence the needfor an ongoing fiscal adjust-ment. It will take until 2018/19before the deficit is eliminated,or 2017/18 when adjustment forthe economic cycle is made.As a result, the UK’s overallstock of national debt is set torise until 2018/19 and will pushthrough the £1.5 trillion markin the preceding year.However, with the economygrowing, the overall stock ofdebt as a share of UK GDP willstart falling in 2016/17 from apeak of 78.7% of GDP the previ-ous year. This is two years laterthan was originally planned inthe Coalition Government’sfirst ‘Emergency Budget’ inJune 2010. Furthermore, as-suming no future economic andfinancial shocks, it will be theearly 2030s before the UK’sgross government debt to in-come ratio returns to its pre-

credit crunch level of 37%. Thisassumes there will be no fur-ther Eurozone crisis or falloutfrom a Chinese financial crisisto deflect the UK off its eco-nomic growth trajectory.Also baked into the fiscalplans are public expenditurecuts and public sector pay re-straint until at least 2018/19.Much of the detail surround-ing these cuts has been kickedinto the long grass and beyondnext year’s General Election.According to the Institute forFiscal Studies, the UK has moredepartmental public spendingcuts ahead than have been de-livered to date.Over the period 2010/11 —2018/19 UK Departmentalspending is set to fall in realterms by 20%. As of 2013/14,just 43% of these cuts havebeen implemented so far.Meanwhile, outside of depart-mental spending, the continu-ing growth in AnnuallyManaged Expenditure, whichincludes social security pay-ments, is set to slow. A welfarecap is to be applied from2015/16 to 2018/19. Whilst thisis set to rise by forecast infla-tion, it will act as a drag on theUK economy, and Northern Ire-land in particular, for the restof the decade and beyond.Overall, despite 56 separatemeasures, and giveaways, thiswas as fiscally neutral a Budgetas you could get, costing a net£130m over five years.With all Budgets, the devilwill be in the detail. There areadditional cuts in public expen-diture and public sector pen-sions as yet not specified, andwe will therefore still have sev-eral years of fiscal pain to come.The squeeze will not just beconfined to the fiscal sphere.The monetary policy squeeze,no matter how mild, is expect-ed to begin next year.Fiscal austerity and rising in-terest rates is something wehaven’t experienced yet. But itis something we will have to getused to.

Richard RamseyChief economist, Ulster Bank

816

to struggle to get to grips with theirdefinite signs of a turnaround, evento be felt for some years to come

of debt


2013 WILL be remem-bered as a turningpoint for the Republicof Ireland’s economy.Hard-hit domestic

sectors such as retail, hospitalityand construction began to growagain for the first time sincethe crisis began. Employmentwas up 2.4% with 61,000 extrapeople in work over the courseof the year. Puzzlingly, GDPactually fell on the year, down0.3% on 2012, meaning labourproductivity fell sharply. In theearly stages of a recovery onewould expect jobless growth,rather than the jobs-richrecession which materialised.However, the GDP data arenotoriously volatile due to thepresence of the large multina-tional sector in Ireland. So theemployment figures are themost reliable barometer of thehealth of the economy.Specifically the pharmaceuti-cal ‘patent cliff ’ has wreakedhavoc on the GDP numbers,while having little impact onthe real economy. A number ofblockbuster drugs manufac-tured in Ireland have come offpatent over the past number ofyears, pushing down on themarket price pharmaceuticalfirms can demand globally. Thishas implications for exportsgiven that pharmaceuticalsaccount for more than half ofthe goods we export, and hastemporarily depressed GDP.In reality, jobs in the pharmasector have actually continuedto grow as firms invest innew drugs, while the declinein profitability of these multi-nationals has little impact onthe real economy — explainingthe stark divergence betweenthe jobs figures and GDPgrowth.The upturn in the domesticeconomy has been good newsfor the public finances —boosting income tax, VATand corporate tax receiptslast year. Moreover, the newproperty tax widened the taxbase further, yielding €318m.

The government easily beatadmittedly conservative deficitreduction targets, helped notonly by improving tax receipts,but by revenues from the sale ofthe government’s assets in thebanking sector. The deficit fellto 7% of GDP, and the govern-ment is track to meet the EUmandated 3% level by the endof 2015, from a peak of over10% in 2010. This will beachieved by an eye-wateringcumulative consolidationworth 20% of GDP since 2008,with cuts of 1.8% and 1.1% yetto hit the economy in 2014and 2015 respectively. Ireland’smassive debt pile, whichpeaked 124% of GDP at the endof 2013 is also forecast to fallthis year, beginning a gradualdescent toward sustainability.So, much of the heavy liftingdone then, but the governmentstill has two tough austeritybudgets to push through andwith a 2016 election loomingever closer, this will test theresolve of the coalition part-ners. Indeed, the decision toreduce the planned budget

adjustment to €2.5bn from€3bn this year against therecommendation of the FiscalAdvisory Council may be thefirst sign of slippage in theplans.For the time being at least thegovernment will pat itself onthe back as Ireland exits thebailout with borrowing costs atan all-time low. However, onearea of government spendinghas yet to be brought undercontrol — health.Spending in that departmentfinished the year €140m abovetarget, as the governmentstruggled to maintain spendingdiscipline in an area thataccounts for 21% of govern-ment expenditure. This wasthe second consecutive yearof slippage in the health spend-ing plans. In this context theplanned €666m cut to thehealth budget in 2014 looksambitious to say the least.While the plans to provide uni-versal free GP care to under-5sin Budget 2014 was laudable,and forms part of the govern-ment’s strategy to provide free

healthcare at the point of con-tact by 2016, the cost of rollingout such schemes is hard to jus-tify in the current climate. Thegovernment and HSE has thusfar failed to cut costs or stream-line unwieldy administrativeand IT systems across thehealth service, while frontlineservices and staff have suffered.The freeze on public-sector em-ployment has meant a steadystream of health service gradu-ates leaving Ireland in search ofemployment elsewhere.Another area of concern ispublic pay. As part of theHaddington Road agreementwith the public-sector unions,the government has targetedsavings of €1bn by 2016. Itremains to be seen whetherthese savings will come tofruition and at what price interms of industrial unrest. Onthe social protection side, thegovernment has consistentlyignored advice from the Troikato target spending on the mostvulnerable in society, maintain-ing universal benefit payments.However, the fall in the num-bers on the dole will helpspending pressures in that areathis year.Despite the spending pres-sures, the government doeshave the safety valve of improv-ing revenues as the domesticeconomy now recovers.Conservative assumptions fortax revenues and stronger-than-expected bank guaranteefees and Central Bank surplusincome have more than com-pensated. Looking ahead, thebetter than expected jobsnumbers should yield a decentwindfall in income tax thisyear, while VAT receipts wereup 7% on the year in the firsttwo months of the year.Moreover, the governmentmay yet decide to offload itsremaining stakes in the banksahead of that 2016 election,providing a timely fillip tothe Exchequer and negatingthe need for any additionalspending cuts or tax rises.

David McNamaraEconomist, Davy Research

17


THEIR beers have reached internationalmonarchical heights, while the biggestbrewing success story is now set for amassive expansion in the comingmonths. Welcome to Northern

Ireland's craft beer revolution. The crop of small,independent operations has more tripled in adecade — with at least six new breweries openingin just a handful of years. Leading the way onsales and growth is Kilkeel's Whitewater Brewery,which has an annual output of around 350,000bottles and is widely available in the three bigsupermarkets.But owner Bernard Sloan has told BusinessMonth that it's set to expand exponentially inthe coming months, and “could do 10 times thevolume of beer and we'd still have space”.“We are taking on more people and are about tobegin the move to a bigger site,” he said.“The demand — especially in the last few years— for craft beer, is down to flavour. The next waveis not here yet, but it's coming.”While part of the interesting side of this is theincreasingly widening selection and explosion of‘artisanal' beer — to use an Americanism —another is the varied backgrounds of many ofthe brewers.For the latest tranche of those deciding to takethe brewing career plunge, the range of previousprofessions couldn't be more varied — includingarchitects, a PhD student and firefighter.But while some of the latest additions to thebrewing marketplace in Northern Ireland followlargely traditional lines, others are also trying topush the boat out in terms of innovation andcrucially, technology.Brewbot — a crowdfunded tech start-up basedin Belfast — has developed a self-contained brew-ing system, which utilises a smartphone app toaid the process.Self-styled ‘beer evangelist' and lead-brewer forthe project Matthew Dick put a PhD on hold toturn a hobby into a career.The 29-year-old Belfast man is also in theprocess of setting up the city's only brewery — aco-operative called Boundary Brewing.“Craft beer is growing fast, and followingthe footsteps of other markets,” he said. “Tiedbars are even seeing the value of selling craftbeer as well as some of the off-licences here.

“Many are selling out of craft beer faster thanthey can restock their shelves.”Mr Dick —whose ‘breakfast stout' was presentedto Prince Felipe of Spain at the recent MobileWorld Congress in Barcelona — said those between21 and 35 with disposable income were “preparedto spendmore to get more”.For breweries trying to push the boundaries —such as Galway Bay in the Republic — Scotland'sBrewdog is very much the runaway success story.Formed in 2007, it quickly grew to become thenation's biggest independently owned producerof all things beer.The big players on the commercial end —chiefly Diageo which owns Irish brewing stalwartGuinness — have yet to really enter the NorthernIreland market, despite indicators of craft havingsomething of impact on their own sales. InJanuary, they blamed a 6% drop in sales of thedry stout during the second half of 2013 on thehot weather rather than the rise of craft.But Northern Ireland still has some catching upto do with the rest of the UK and Republic — withthe leviathan that is micro-brewing in the USnow boasting well in excess of 2,000 operationsacross the country.Northern Ireland's taste for quality, small-batchproduce, still largely rotates around the moretraditional fare of pale ales, reds and stouts.The region's longest running craft brewery —Hilden — is also on the rise. The operation basedoutside Lisburn continues to feed the demandfor traditional ale styles, served on traditionalhandpump or in bottle.Two of the latest brewers to buy a mash tun andget stuck in, both come from very different back-grounds. Darren Nugent was working in PR andmarketing in England, before returning to his na-tive Carrickmore in Co Tyrone to launch a careerin brewing. Pokertree began selling two beer linesin January this year.“I saw a gap in the market — there wasvery little choice,” he said. “Demand so farhas been very good — those who like the beers,really like them.”“Culturally we are a bit behind the restof the UK and the Republic, but in five years,who knows where we'll be,” said Mr Nugent.

COVER STORY

PINT-SIZESUCCESS

The number of small independent breweries in Northern Irelandhas tripled in the past decade and the thirst for further growth

seems to be unquenchable, as John Mulgrew discovers

Michael O’Hara,President Mas ofCatalunya, Mayor Triasof Barcelona and PrinceFelipe of Spain (right)

CONTINUES ON PAGE 20 >>


COVER STORY

Another to join the brewingfraternity was firefighter EoinWilson who opened Farmaged-don in Comber earlier this year.“There seems to be the samesort of argument with beer asthere was with wine — people'stastes are changing,” he said.“You also have the slow-foodmovement, locally. It's careand attention, and after thingslike the horsemeat scandal,there's a move towards hand-made produce.”

WHAT’S CHANGED IN 10YEARS?

Northern Ireland's independentbrewing industry was once amuch lonelier place —withHilden flying the flag since 1981.In 1996, Bernard Sloanestablished theWhitewaterBrewery — but it wasn't until theturn of the 21st century that itbegan to grow substantially andstarted bottling. Clanconnel fol-lowed suit in 2008, introducinga range of brews under the Mc-Grath's branding. Fermanagh'sInishmacsaint began productiona year later, with the Ards Brew-ing Company — set up by archi-tect Charles Ballantyne — also

beginning to brew in 2011. Butthe renewed and reinvigoratedinterest in Northern Irelandbrewing has been furtherbolstered in the past two years —with no less than five breweriesbeing opened. These includeSheelin, Pokertree, Clearsky,Farmageddon and Red Hand.Co-operative Boundary Brewingis another brewing project in theearly stages of development.

WHAT'S WORTH SEEKINGOUT?

Traditionally, most of NorthernIreland's breweries have beenjust that — traditional. While theindependent brewing industry

will take some time to grow andcatch up with the creativity anddiversity of brewing nationsfurther afield, there are somegreat and interesting beers avail-able.Named as the Champion Beerat the Belfast Beer Festival in2012, Hoppelhammer is abalanced IPA (Indian pale ale)with a herbal, crisp hop bitter-ness, and can be found ontap, cask and in bottles. Astalwart of the brewing scene,Hilden's Twisted Hop is a crisp,

refreshing and well-hopped ale.For those after something dark-er, Farmageddon's India ExportPorter offers a rich, roasted maltand balanced espresso bitter-ness. For those drinkers normal-ly resigned to a well-knownDiageo-owned red ale,McGrath's Irish Red offers agreat deal more complexity withsome crisp, biscuity malt. Inaddition, if travelling south, Gal-way Bay's ‘Of Foam and Fury' isa superb and boundary-pushing‘Double IPA' worth seeking out.

CONTINUED FROM PAGE 18 >>


NEWS ANALYSIS

THEmost recentUlster Bank NorthernIreland PMI reportshowed private-sector firms have

now reported an increase inbusiness activity, employmentand export orders for eightconsecutive months. Figures onthe job market have also beenencouraging, with localemployment data outperform-ing the UK average.In fact, Northern Ireland wasthe best performing regionacross Hays UK in the last sixmonths of 2013, with tempo-rary placements up by over40% and, more tellingly, anincrease of 60% on permanentplacements year on year.The labour market is experi-encing a strong rebound inprofessional recruitment andwe are already acutely aware ofthe sectors where the demandis emerging.At the end of last year wereleased the Hays Global SkillsIndex 2013, a report that is themost statistically robust pieceof thought-leadership from therecruitment industry. We notedthat the UK economy is facingan emerging higher level skillsshortage that could threaten toderail recovery.Unemployment and numbersof unfilled vacancies are risingacross the world, a clear signthat global labour markets aremalfunctioning.The recruitment world movesquickly and the figures onlyshow somuch of the story. Theissue of the UK skills shortage isurgent, important andmust beaddressed now to avoid jeopar-dising future economic recovery.Local businesses are alreadystruggling to find and attractthe right candidates and thisthreat that we warned ofseveral months ago is quicklybecoming an unwanted reality.Too many skilled jobs arenow going unfilled because theright skills are in increasinglyshort supply. This makes a realdent on a company’s ability togrow and constrains the UK’seconomic prospects at a timewhen we need to be encourag-ing a sustained recovery.

Right skills neededHidden behind the positive news emerging from our local economylies a deeper problem that must be challenged, says John Moore

While the expansion of the ITsector has been widely report-ed, demands are also growingparticularly quickly in the areasof manufacturing and construc-tion. In the last six years muchof our experienced local talentwithin these industries hasbeen forced to move to Scot-land, England and beyond tosecure work. We want to letcandidates know that thiswork is gradually returning toNorthern Ireland.Already we are seeing thatmoney is being made availablefor publicly funded infrastruc-ture projects and these are

calling for immediate specialistskills. This is being furtheraided by the burst of activity inthe residential market and theripple effect of house sales willcreate movement through theconstruction sector.On-site managers are theones bearing the brunt of thisso called ‘talent mismatch’,placing the candidates back inthe recruitment driving seatonce more. Professionals withthese skill sets and experienceare now in a strong position tosecure work and return toNorthern Ireland. More vacan-cies are being lodged at present,

which is very positive. Over thenext six months we expect therewill be more movement ofgood-quality people as thosewho have accepted careerstability will now look toimprove their positions.In order to keep the positivesentiment within the economymoving in the right directionthere needs to be a jointeffort between businesses andgovernment to build the bestskills pipeline for futuresustainable growth.

John Moore, regional director,Hays in Northern Ireland

The Northern Ireland jobs market is outperforming the UK average, but a skills shortage threatens the recovery


BREAKING THE MOULD

NNaammee:: Niall DavisCCoommppaannyy:: Howard Street

II ggoott iinnttoo bbuussiinneessss bbeeccaauussee……I've always had a bit of a prob-lem with authority so from ayoung age I always knew open-ing my own business was theonly way for me. The older I gotthe more I craved it as I wantedto build something with my ownstamp on it. I always wanted tomake money and I've readenough books on success andwealth creation to know you canonly get so far as an employee.I got into this particular busi-ness because the opportunityarose. I was in the process ofstarting a financial planningbusiness when I met Marty,business partner and head chefof Howard Street. Marty's foodwas popular with the publicand I knew he ran his kitchenswith military precision so I alsoknew he would be a good per-son to go into business with. Iknew it was one of those oppor-tunities that doesn't present it-self too often. I'll probably goback to finance at some stage.

II ddiiddnn’’tt aallwwaayyss ddoo tthhiiss......They never paid me enough inschool so I left at 16 to work foran independent financial advi-sor as an administrator. Iworked my way up to becomean IFA myself until, eight yearsafter I joined, I left to go travel-ling the world. When I cameback I needed money as fast aspossible so my friend offeredme a job in a clothes shop. Iremember working for thewhole month and beingshocked at my after-tax wages. Ineeded more than this so fellinto hospitality as the tips madeup for the lousy minimumwage. It was only supposed tobe for a few months until I goton my feet again but that wasthree and a half years ago.

TThhee bbeesstt tthhiinngg aabboouutt mmyy wwoorrkkiiss……Creating something that's madean impact in my home city. Thewhole team work so hard todeliver a good experience forour customers and it's verysatisfying when we pull it off

‘Don’t be afraid of failing’Our education system teaches us that failure is bad – it’s not so long as youlearn from it. So says restaurateur and determined dream follower Niall Davis

and people leave the restauranthappy. I have a love/hate rela-tionship with the social side ofhospitality. The workplace is avery social environment but thejob is very anti-social in that Idon't get to see my friends,family or fiancee very much.

TThhee ppeerrssoonn II ttaakkee iinnssppiirraattiioonnffrroomm wwhheenn iitt ccoommeess ttoo bbuussiinneessssiiss……It's easy to mention the greats ofbusiness here which, of course,are inspiring to any entrepre-neur and serve as a reminder ofjust howmuch it's possible forpeople to achieve. However, I'moften inspired by anyone reallywith the guts (or the stupidity)to go and give something a go,whether they succeed or not.There are so many people whohave an idea which they thinkwill work, or a dream they wantto follow but are too scared todo it because of one reason oranother. I love it when peoplerisk it all to pursue their idea.Who cares if it doesn't workout? Just get up, dust yourself

off, learn from your mistakes(crucial) and move on.

TThhee bbiiggggeesstt oobbssttaacclleess wwee’’vveeccoommee uupp aaggaaiinnsstt iinn bbuussiinneessss iiss......Same as everybody else... secur-ing finance! Another part ofthat is people not believing inyou. I'm sure there's a lot ofpeople who may have been sup-portive to my face but probablythought I was a bit crazy start-ing a restaurant in these times.That's fine but when those peo-ple are the people who are mak-ing the decision whether or notto lend you money that's whenyou have problems. Thankfullywe eventually came across peo-ple who did have a bit of beliefand we were able to secure thefinance we needed. I also foundestate agents quite difficult todeal with at times. A lot ofdeals in this city seem to go onbehind closed doors and youneed to be in the know to knowwhat units and businesses areavailable for rent or for sale. Be-fore Howard Street we weren'ttaken seriously and were left

out of the loop — it's a very frus-trating set of circumstances.

MMyy aaddvviiccee ttoo ssoommeeoonnee tthhiinnkkiinnggaabboouutt ssttaarrttiinngg uupp tthheeiirr oowwnnbbuussiinneessss iiss……Just do it, go for it, but be smartabout it too. Plan it out properlyand do as much homework aspossible. Don't be scared to fail.Our education system teachesus that failure is bad — it's not,so long as you learn from it.Things like bankruptcy in thiscountry have such a negativestigma attached to them. How-ever, bankruptcy can be one ofthe great tools of our economicsystem that allows someone torisk everything and if it doesn'twork out they get to wipe theslate clean. It's things like thisthat allow people to dive in andmake their move.

IInn 1100 yyeeaarrss’’ ttiimmee II hhooppee ttoo bbee……Earning more and working less!

II ccoouullddnn’’tt ggoo ttoo wwoorrkk wwiitthhoouutt......Eye drops. Being polite to people70 hours a week can be tiring.

Niall Davis, right, and his business partner and Howard Street’s head chef Marty Murphy


utilise the technology to give theend-user an engaging experi-ence. We have developed andproductised our offering andhope to launch it in the USAshortly. We are no longerfocused purely on being aservice-based business.

In 10 years’ time the world will be...A vast digital ecosystem thatwill become part of our every-day lives. The internet will be atthe heart of everything we doand aware of our every need. Wealready have connected fridgesthat scan bar codes informingus of the content of what we areeating and flexible microchipswhich can be integrated with

clothing, so the possibilities areendless. Every home will have a3D printer and we will be down-loading files and printing manyof the everyday items which weneed. This is good for the reduc-tion of our carbon footprint buta potential threat for logisticsand transport companies.

My one business regret is...I don’t believe in regrets. Youcan take something positiveand learn from all of yourexperiences. Business is aroller-coaster ride and there areups as well as downs. I haveseen the rise and fall of thedotcom boom-and-bust yearsand have learned some tough

lessons along the way. You havejust got to keep moving forward.

My piece of business advice is...Never be surprised by people.Being a very trusting person hasbenefited me, however, it alsohas its downsides. Treat peoplethe way that you would like to betreated, goodmanners go a longway. As my aunt always said, ‘it’sa light load to carry, but a lot ofpeople seem to forget the basicswhen they become successful’.

I couldn’t start the day without..Recovering my iPhone frommy three-year-old son who istech crazy and getting a hugfrom the rest of my little ones.

AND I’LL TELL YOU ANOTHER THING

NNaammee:: Adrian Bradley, managingdirector, i3 Digital

My first job...My first paid job was as abartender/waiter at the ManorHouse Hotel in Fermanagh,when I was 17. I was paid theprincely sum of around £1.50per hour. However, due to mykeen interest in art and beingpretty nifty with a paint brush,I also worked as a painter anddecorator from the age of 15and even got a few gigs doingDisney-themed kids’ bedrooms.I just hope that I didn’t infringeany copyrights!

The person who taught me how tosucceed...That’s a good question. I per-sonally believe that wanting tosucceed and be the best atwhat you do is inherent in theindividual. Being instilled witha good work ethic from an earlyage and proving my first careerteacher wrong were big driversfor me. Hard work, coupledwith creativity, self-determina-tion plus a strong passion forwhat you do are key ingredientsto succeeding.

My business mantra...Work hard and make sure youenjoy what you do as much aspossible. Running your ownbusiness is a full-time job —most people wouldn’t do it ifthey knew what it entails, so it’simportant to ensure it involvessomething you are passionateabout. I also believe in focusingon the road ahead and not look-ing back. What doesn’t kill youmakes you stronger, sharperand more versatile.

It’s all changed since I started out...When the company was set up,businesses were only starting tounderstand the potential of theinternet. As the internet becamemore accessible, i3 Digitalevolved and we now deliverhighly integrated marketing andcommunication platforms alongwith utility-based apps. In thelast year we have moved intothe augmented reality space andare now delivering some excit-ing and innovative apps, which

Inspired by digital evolutionHaving ridden the roller-coaster years of the dotcom boom-and-bust, Adrian Bradleyis looking forward to the days when the internet will be at the heart of all we do

Adrian Bradley: ‘I have learned some tough lessons along the way. You have just got to keep moving forward.’


SME WATCH

LIKE so many greatsmall business ideas itwas started aroundthe kitchen table.Broighter Gold, the

award-winning, cold-pressedrapeseed oil, was born quite byaccident on Leona and RichardKane's arable farm in Limavadyback in 2006.Richard was pressing for biodiesel when Leona ran out ofolive oil while making dinner.“We were cooking two steaksthat night and Richard broughtme up a cupful of the rapeseedthat was unfiltered, and I usedit,” Leona said.“I thought it was going toruin the steaks but I loved thesmell. I didn't know muchabout rapeseed at the time, butthere was such a difference insmell and taste to olive oil. Itwasn't as strong. It [ultimatelythe business] started whenRichard said that night, ‘That'sour Broighter Gold'.”Leona did a little onlineresearch about the health bene-fits of rapeseed oil and realisedit was a product they couldproduce from start to finish onthe 800-acre farm, that hasbeen in the Kane family forover 100 years.“It's got 10 times more Omega3 and half the saturated fat, andthere is also Omega 6 and 9which you don't get with oliveoil, plus vitamin D and E,” saidLeona, a former Farmers’Union Office worker. Roughly200 acres of the farm cultivatesoil seed, with the remaining600 acres used to grow wheat,barley and potatoes.Mother-of-two Leona finallygot the business off the groundin 2011, selling the oil throughfarmers’ markets and localindependent shops andrestaurants.“A chef came over to us at thefirst farmers’ market we everwent to and when we got homethat night we had a message on

Born out of chance,the Kane family’srapeseed oil is setfor export growth,writes AmandaFerguson

TASTE OFSUCCESSTASTE OFSUCCESS

the Facebook page we createdthe nightbefore,” Leona said.“He said he had triedother rapeseed oil beforeand that he had nevertasted anything like ours.“So I started to contactdifferent chefs. I spoke toChris Bell at the Galgormand Stanley Matthews atthe Limetree — they bothsaid our oil is unique.“It's not as strong andit's not as harsh. It has alot more golden colour. Werecognised that we hadsomething a bit different.It's very versatile.”Two years ago BroighterGold won product and packingawards at the IFEX show, bring-ing it to the attention of chefsacrossIreland.“Chefs are fantastic becausethey are using the oil whendoing demonstrations.”Broighter Gold is stocked inindependent local shops,butchers, farm shops and delisacross Ireland.Following on from the plainrapeseed oil, Leona launchedfour new flavours at last year'sBalmoral Show: basil, lemon,

chilli and rosemary and garlic.The name Broighter Goldcomes from a gold hoard foundon the Kane's farm in 1896 by alocal man.Online sales of Broighter Goldproducts to America andbeyond have rocketed over thepast six months, due in part tothe Kanes’ appearance on UTVfarming programme, Rare Breed.Leona has taken on one full-time and one part-time memberof staff and someone to helpcare for the couple's children,

Jacob (5) and Emily (2) as she isplanning to grow the business.“Richard would have done allthe pressing, and then I wouldhave done all the bottling withhelp of family and friends butyou can't always just have themcoming in all the time.”She said Invest NI has beenvery goodwith providing advice.At themoment she is exploringdifferent export options, with theMiddle East on the cards. Thesmall company is also part ofEconomussee, a Canadian-based

artisan network, so plans areafoot to export to Canada andAmerica soon.Leona said: “We only grow asingle variety in one soil type,that's what makes our oil unique.“We are working hard and ithas been great. You couldn't doit unless you loved it to be hon-est. It's long hours, but we enjoyit and it's nice to see the cus-tomer enjoy the end product.”Broighter Gold will befeatured at the Balmoral Showthis month.



ASK THE EXPERTS

II OOWWNN tthhrreeee bbuuyy--ttoo--lleettpprrooppeerrttiieess.. WWhhaatt aarree mmyylleeggaall oobblliiggaattiioonnss iinn rreessppeeccttooff tthhee rreecceenntt LLaannddlloorrddssRReeggiissttrraattiioonn SScchheemmee??

The legal requirements onprivate landlords havebecome much moreonerous in recent years,largely due to the trendtowards renting rather thanbuying properties as aresult of the economicdownturn.

All private landlordsmust, by law, enrol with theLandlord RegistrationScheme. It aims to keep aregister of landlords,where their propertiesare located with thegoal of keeping landlordsabreast of their responsi-bilities.

However, there are otherlegal requirements ofwhich, you as a landlordshould be aware.

More commonly knownis that all propertiesrented out to tenants musthave a valid energy per-formance certificate andfor all gas and electricalappliances to be inspectedregularly.

What is less commonlyunderstood is that if yourent out a house or flatto three or more unrelatedindividuals then it isconsidered to be a housein multiple occupation(HMO).

If a property is a HMO, itmust be registered withthe Northern IrelandHousing Executive. Eachhouse needs to be regis-tered for the maximumnumber of people it canhouse for an initial periodof five years.

A fee equivalent to £25per year for each occupantis payable on first registra-tion so, for a house with amaximum of three occu-pants, a fee of £375 ispayable.

Failure to comply withthe HMO registrationscheme is a criminaloffence and carries finesfor breaches rangingupwards from £1,000.RD

I own an SME within the services sector. Our training budget issmall and having staff learn off-site is not an option. Whatassistance is available towards recognised qualifications?

IF you have employeesaged between 16-24 andwho work more than21 hours week there isfunding available under

the Government’s Apprentice-ships NI scheme.Incentives (of up to £750per employee) are madepayable to the business uponcompletion.All NVQ training is deliveredwithin the workplace at atime that suits both the learnerand employer. Not having torelease staff to attend classmeans no disruption to thebusiness.Training and assessmentis available across NorthernIreland in a range of occupa-tional areas including retail,hospitality, business adminis-tration, team leading and cus-tomer service.Many young people workingin the service sector leftschool with few or no qualifica-tions and now, years later, wantto be rewarded for the hardwork they undertake. They aremotivated, enthusiastic andeager to learn.They see what they are doingas a career rather than simply ajob in a shop or a cafe andmany want personal develop-ment and career progression.Our programmes are alsospecifically tailored for individ-ual needs so learners are givenas much help and support as

possible to succeed.Many learners go on tosupervisory and managerialroles upon completion of the

apprenticeship which isextremely rewarding for you,the employer.DS

All questions should be addressed to: [email protected] and advice are published in good faith but should not replace the advice of your professional financial advisor.

Ross DavidsonprincipalRW Davidson

Donna Sheerinmanaging directorTotalis People

Conor CahalaneDavyPrivate Clients

Sound advice can be a valuable commodityWe put your questions to the experts with the answers

II’’mm ttrryyiinngg ttoo ppllaann ffoorr mmyy cchhiillddrreenn’’ss eedduuccaattiioonn.. IIss tthheerree aannyytthhiinngg IIsshhoouulldd bbee ddooiinngg nnooww ttoo hheellpp ppaayy ffoorr uunniivveerrssiittyy ffeeeess iinn ffuuttuurree??

The financial future faced by today’s university students is a dif-ficult one, so in my view, you should be setting aside as much asyou can now.It never hurts to be prepared and really, the sooner you start sav-ing, the better.

According to Liverpool Victoria’s ‘Cost of a Child’ report 2013, aUK student who started a three-year degree last autumn willgraduate with an average debt of around £53,300.

In Northern Ireland, the figure should be lower but will be by nomeans less significant.

Debt, after all, is still debt.For now, parents should seek to take advantage of any tax-

free benefits that are available to them. From this month, theannual tax-free ISA allowance has increased to £15,000.

Children are also entitled to their own annual ‘Junior ISA’ whichallows them to build up tax-free savings of up to £3,840 a year— though they can’t withdraw it until they are 18 years of age.

The only real disadvantage of an ISA is that you can only investa fixed amount in any given tax year.

Those with more income at their disposal, may wish to consid-er an investment bond, where there is no limit on the lump sum tobe invested.

There are also tax advantages of an investment bond and oncechildren are 18, they have their own personal allowance that theycan utilise.

While is it never going to be easy to build up the large sums ofmoney that a university education can now entail, a little forwardplanning could definitely ease a good deal of the burden.

The appropriate strategy is always dependent on individualcircumstances and as such, you should always speak to a finan-cial advisor in the first instance.


INSIDE REPORT

ULSTER Bank and itsparent, RBS, face avery damagingaccusation for a banktrying to rebuild its

reputation. The charge is thatone of its divisions deliberatelyput profitable clients out ofbusiness for what amounted totechnical breaches of lendingconditions and inmany casessubsequently bought thoseclosed businesses’ assets cheaply.Claims of wrongdoing aredenied by Ulster Bank and RBS,which both say they have seenno evidence to substantiate theallegation. However, the accu-sations have to be taken seri-ously — and they are.RBS has engaged CliffordChance to investigate and aspart of that, the leading lawfirm has appealed to RBS or Ul-ster Bank clients with arelevant grievance to provideevidence. Meanwhile, the regu-lator, the Financial ConductAuthority, has engaged thePromontory Financial Groupand accountancy firm Mazarsto examine the treatment ofbusiness customers by RBS.The spark for the two investi-gations was a highly criticalreport conducted for the UK’sbusiness secretary Vince Cableby his special advisor and‘entrepreneur in residence’ DrLawrence Tomlinson. Thereport focused on the relation-ship of RBS with its divisions,the Global Restructuring Group(GRG) and West Register.While Ulster Bank has sug-gested the report was focusedon RBS, Dr Tomlinson insists itapplies equally to Ulster Bank.

“The Tomlinson report definite-ly includes Ulster Bank as apart of the RBS Group,” he says.“In fact, some of the earliestcases I received were UlsterBank cases. Having visitedBelfast in January, and metwith businesses who have hadproblems with GRG, I believethe issues in Northern Irelandvery much reflect what I haveheard from businesses acrossthe rest of the UK.”Dr Tomlinson’s report allegedthat RBS had intervened whenclients breached their bankingcovenants, even where theywere trading profitably andfully repaying their loans. Twoexamples of the covenantbreaches cited by Dr Tomlinsonwere when a client was late inproviding copies of its accounts,or when the loan to value ratioexceeded the specified maxi-mum. Given that propertyprices in Northern Irelandcollapsed by about half duringthe financial crisis, inevitablythis had the potential to affect asubstantial proportion of UlsterBank customers who hadborrowed to buy properties.According to Dr Tomlinson,customers who breached theirbanking covenants were rou-tinely referred to GRG. Whilethe remit of GRG is supposedlyto assist clients to trade out ofdifficulty, Tomlinson — basedon evidence from a whistle-blower who had worked for thebank — claimed that themonthly charges imposed byGRG were so high that it madeit very difficult, or impossible,for the client to trade profitablyafter being referred to GRG.

“The business is often finedon entry into GRG or BSU [thebusiness support unit] forbreaching their covenants,”wrote Dr Tomlinson. “Moreoften than not, their interest onthe loans will also be increased.Whilst the bankmay argue thatthis increase in interest reflectsthe greater risk the bank facesas a result of the business’ insta-ble position, this is unhelpful forthe business, making it increas-ingly hard for them to trade outof their difficult situation.”Moreover, said Dr Tomlinson,GRG on many occasions placedclient businesses into adminis-tration, with another RBS divi-sion, West Register, eventuallytaking ownership of the assets.Dr Tomlinson’s report says:“There are multiple accounts ofWest Register buying proper-ties later down the line whenthe business has gone intoinsolvency at cut prices. Whenyou look at the inaccuracy ofthe valuations of many of theseassets, there is a potential foreasy profit to be made from thecheap purchase of propertiesthat later can be resold nearerthe original valuation.”The FCA’s reviewwill be wideranging and fully consider all thepoints raised by Dr Tomlinson,which explains why it willonly be completed in the thirdquarter of this year. Meanwhile,both the House of CommonsTreasury Select Committee andthe Northern Ireland AffairsCommittee have conductedhearings into Tomlinson’s report.Ulster Bank chief executiveJim Brown told the Northern

BANKS IN THESPOTLIGHTUlster Bank and its parent point to an absence of evidence tosubstantiate claims of wrongdoing but, as Paul Gosling reports,the potential risk for the banks and Northern Ireland is great

CONTINUES ON PAGE 34 >>


INSIDE REPORT

Ireland Affairs Committee:“We take these allegationsvery seriously... From my ownperspective, I have seen noevidence of any systematic is-sues of the nature that MrTomlinson has talked about.No cases have been presentedto us to actually review to seewhether there have been anyissues. But based on myknowledge of how GRGworks, I have seen no sys-temic issues of that naturewithin the business.”Politicians are worriedabout the implications for theNorthern Ireland economy ifthe allegations are true. IanPaisley junior MP questioneda Bank of England official at arecent Northern IrelandAffairs Committee hearing.“How does the authority viewthe actions of RBS and per-haps — I say perhaps — theUlster Bank, which has seem-ingly and deliberately forcedand, as you said, defraudedSMEs out of businesses inorder to seize their assets?”The BoE said it takes theallegations “very seriously”.There is another reason

why this issue has enormous-ly significant policy implica-tions for Northern Ireland.Some of the province’s mostsubstantial commercialassets are today owned byWest Register, includingThe Outlet in Banbridge, theRichmond Centre in London-derry and, reportedly, part ofthe debt that underpins theFoyleside Centre, also inDerry. (Ulster Bank failed torespond to requests toconfirm or deny this).In practice, this means alarge proportion of relevantcommercial assets arecontrolled by Ulster Bank andits associate companies. InDerry, as well as West Regis-ter owning the RichmondCentre and, reportedly, hav-ing a more than half a billionpounds’ stake in the Foyle-side, the Ulster Bank is themain creditor in the adminis-tration of an Orana companythat owned development landfor an extended shoppingcentre in the city’s CrescentLink area. Consequently, itseems that the two retail cen-tres with most to lose if thenew development goes ahead

have a conflict of interest thatmight deter them from chal-lenging the application.Ulster Bank failed torespond for a request to com-ment on the apparent conflictof interest. It did, though,provide a statement on thebroader charges against it. Thebank said: “Serious allegationshave beenmade about thetreatment of some customers,as of now no evidence hasbeen produced that backsthese claims of systemic fraud.Ulster Bank is committed toworking with customers whofind themselves in difficultyand work with customers whoengage with us to help themfind a solution on a case-by-case basis. We understand theimportance of a thriving andsuccessful business sector.We now have to wait to findout what the RBS and FCAinvestigations conclude andfor what more happens fromboth the Northern IrelandAffairs and Treasury SelectCommittees. This is an issuethat has some way to go. Butit has the potential to strikeanother hammer blow toUlster Bank’s reputation.

CONTINUED FROM PAGE 34 >>


TICKERS

The month’s local indicators at a glanceUlster Bank economist Richard Ramsey gives a rundown on the latest key pointersALL eyes were on the Chancel-lor on March 19. However, anencouraging batch of NorthernIreland economic data was alsoreleased on Budget day.The local labour market keepsimproving with unemploymentfalling and employment rising.Indeed, Northern Ireland’sclaimant count (or dole queue)fell for the 13th consecutivemonth in February.Meanwhile, the QuarterlyEmployment Survey (QES) forQ4 2013 is also worth noting. Itmeasures the number of jobs asopposed to the number of indi-viduals in employment,excluding the self-employed.The QES coverage and method-ology used to estimate thenumber of jobs has changed,which explains the apparentsurge in job numbers in Q42009.The latest figures revealed aneighth consecutive quarter ofemployment growth with a netgain of 2,920 jobs (+0.4%) inQ4 2013. Furthermore, theyear-on-year increase (+1.8%)represented the fastest rate ofemployment growth since Q12008. This equated to a net

gain of 12,300 jobs with 85% ofthese in the private sector. Thenumber of seasonally adjustedjobs peaked in Q2 2008 at733,060 and troughed in Q42011 with 691,470. This repre-sented a decline of 5.7% or41,590 jobs.In the subsequent eight quar-ters, NI has recouped 30% of

the jobs lost during the down-turn. This highlights the scaleof the job creation challengestill facing NI.It is encouraging that NI'seconomic recovery has movedto the next stage with a mean-ingful recovery in employment.The steady stream of InvestNI-backed investments over

the past year, promising jobsin the near future, alongsideimproved business confidenceand rising investment inten-tions, should keep employmentgrowth on an upward trajectory.At a sector level, the mostimpressive growth, in percent-age terms, occurred within theconstruction industry.

EMPLOYMENT recovery is driv-en by full-time employmentgrowth.Like economies elsewhere, full-time employees bore the brunt ofthe job losses in Northern Ire-land’s downturn. However, therecovery in employment growthover the last year has been par-ticularly evident in full-time em-

ployment. This increased by2.3% between Q4 2012 and Q42013, representing the fastestrate of growth in almost six yearsand compared with an annualincrease of just 0.8% for part-time employment. Despite this,the number of full-time jobs inNI in Q4 2013 remains 5.0%below the peak in Q1 2008.

THE cost of living squeeze ap-pears to be easing with the gapbetween annual consumer priceinflation and average weeklyearnings narrowing. The annu-al rate of consumer price infla-tion (CPI) eased from 1.9% inJanuary to 1.7% in February.The latter represents the lowestrate of CPI inflation since Octo-

ber 2009. Petrol prices are nowat a three-year low and foodprice inflation has also beeneasing. Meanwhile, averageweekly earnings have gone inthe opposite direction. Indeed,in last month’s Budget 2014, itwas forecast that average week-ly earnings will overtake infla-tion later this year.


STOCKWATCH

UPSHARES-DOWNSHARESAs Profit Axon continues to storm ahead is it time to bring in the security experts?

Joanne StuartDirector of Attrus and chair ofArts and Business NI

May 28 value ChangeBG Group 73,625 1060Kingfisher 151,286 11143Whitbread 246,350 3187Evraz 16,400 -3,449Total 487,661 11,941WildcardAsahtead 113,397 113,397

Barry ByrneManaging director of G4S inNorthern Ireland

May 28 value ChangeSAB Miller 117,861 7,404AB Foods 233,962 -5,086BSkyB 135,174 2,544Tate & Lyle 94,936 7,929Total 581,934 7929WildcardBunzl 109,091 9,091

Tony AxonMedia director of NavigatorBlue

May 28 value ChangePrudential 181,630 -3,453Next 242,626 8273Lloyds 207,373 -19,587Arm Holdings 165,870 4,352Total 797,499 -10,415WildcardBurberry 93,232 -6,768

David ElliottEditor of Business Month

May 28 value ChangeStandard Chartered 74,939 -5,474BP 95,413 -3,756Carnival 115,548 -11,762Pearson 83,687 7,015Total 369,587 28,007WildcardRandgold 94,244 -5,756

MIXED fortunes? Just a tad. Theperformance of your erstwhiletraders over the last month hasmirrored what can only bedescribed as a tumultuous fewweeks for the stock markets.Geopolitical tension isn't good forinvestors, who have a tendency tohead for cover in times of uncer-tainty. Upheaval in the Crimea hasborne the inevitable fruit ofdepleted portfolios all round,

though some of us have withstoodthe slings and arrows of outra-geous fortune better than others.And while the lowered spirits ofsome of our investors are badenough, they pale in comparison tothe pall overhanging the home ofBusiness Month at this point.Overall, we've had some profitsand some big losses, not least forthe departing editor who droppeda cool £28,000 en route to Peru.

Even Tony Axon lost £10,000 aftertaking a big hit on Lloyds, and attimes, we can’t help agree with histake on Osborne’s much-trumpet-ed economic recovery, that it’smore about the south-east ofEngland than our patch. BarryByrne put in a solid performance bysticking with beer and sugar whileJoanne Stuart made £12,000 on theback of a rally from Kingfisher. Allprices as of March 28.

THE RULESEach trader is given£400,000 to spend,£100,000 each on four setsof shares, which they musthold in their portfolios untilthe end of 2013. They willalso be given £100,000 tospend on a wild-card share,which must be changed atthe end of each month.

Wildcard: Babcock InternationalBabcock is the UK’s leading engi-neering support services firm work-ing in the likes of defence and ener-gy. At the end of March, itannounced the acquisition ofAvincis Group. There was surpriseat the valuation and the rights issueof £1.1bn required to pay for thetakeover which translated into a fallin share price. But contracts withMagnox nuclear reactors andLondon fire engines should help theshare price to bounce back.

Wildcard: BellwayIt announced record revenues andearnings per share in its interimresults earlier this week. Thispushed its shares up 2% but theystill look attractive as the UK hous-ing market gathers momentum,fuelled by cheap loans and interestrates. The FTSE 250-listed housebuilder said it experienced “strong”consumer demand during the firstsix months ended January and thatthe reservations rate had accelerat-

ed in the early spring selling season.

Wildcard: Enron (not really — Ed)A difficult month as I predicted,mainly due to uncertainty overCrimea. It confirms my view thatthe ‘recovery’ is all south eastEngland Osborne bluster. Myreverse this month is temporary,driven down by Lloyds. At least myloss wasn’t as big as our editor whoI suspect is distracted by his mar-riage to the lovely Geraldine. Goodluck David; mind you the shares willneed to do better, unless of courseyou’re marrying for money!!

Wildcard: Lehman BrothersBoom! There goes the profit.Having hankered after a big profitto end this run of Upshares, thistrader was left with egg on his faceand a sinking feeling. The latter wasmore to do with the £11,000 loss forCarnival although the overall£28,000 loss was accounted for bya big slide for other stocks, includ-ing wildcard Randgold. So for thelast pick I’m going for LehmanBrothers. I hear they're doing somegreat things in leveraged debt.


FOCUS ON: YOUNG ENTREPRENEURS

EARLY STARTStart-up assistance and ongoing support is on hand for Northern Ireland youngstersaiming to become the next entrepreneurial legends, reports Rebecca Kincade

SITTING in a NorthernIreland classroomtoday could be the nextSir Alan Sugar, SirRichard Branson or

Anya Hindmarch, all of whomstarted their globally successfulcompanies at a very young age.This country has a strong repu-tation for entrepreneurial spirit,but what help is available to ourlocal young people hoping tostart their own business?Carol Fitzsimons, chief execu-tive of Young Enterprise NI, toldme there is a range of pro-grammes available to young peo-ple through organisations suchas The Prince’s Trust,Advantage NI, Invest NI, North-ern Ireland Science Park and theBright Ideas programme at alocal council level.She continued: “There are alsoinnovative approaches thatyoung people can take, such ascrowdfunding, private equity,support from family and friendsas well as approaching the bankto get started. A great recentexample is Brewbot who usedKickstarter to raise their ini-tial start-up capital.”Ms Fitzsimons recom-mends that the first step forany budding entrepreneurshould be to sketch out theirideas in relation to theproduct and the marketthey wish to target.She said: “It doesn’t needto be as formal as a businessplan. We have found that local businesspeople are very encouraging of young peo-ple trying to get started, so we would sug-gest networking to get as many supportivepeople around you as possible.”One of the biggest challenges facingyouth entrepreneurship is our low-risk cul-ture in which young people are encouragedto get a secure job and work through the

higher education system. MsFitzsimons says that they are

working to increase the awareness of busi-ness start-up, or self-employment, as a ca-reer choice whilst at school.She said: “The infrastructure is there foryoung people to succeed in starting uptheir own business, but the challenge isensuring there is a supportive climatearound them that encourages them to giveit a go. One of our Young Enterprise stu-

dents recently said thatthe only difference be-tween Northern Irelandand America is that inAmerica when you failit is viewed as experi-ence and here it isviewed as failure. Thisis a wise insight from a16-year-old.”Young Enterprise pro-grammes help studentsto ‘learn by doing’through the hands-onexperience of thatcomes from runningtheir own business.Philip Cassidy, co-founder of Gem, andLorraine McAleer fromLearning Space, areYoung Enterprise alum-ni.Lisa Beers, pro-gramme manager, ThePrince’s Trust, ex-plained that they toohave support in placefor unemployed young

people, aged18-30, whoareinterested instarting theirown busi-ness.She said:“We offer afree four-daytraining pro-gramme that

helps with business planning. There arealso financial support packages, includingtest marketing grants of up to £250, start-up grants of up to £1,500 and loans of upto £4,000, depending on circumstances.We can also organise up to two years ofsupport from a volunteer business mentorand the opportunity to complete a level-one qualification in Enterprise.”

>> Turn to page 40


FOCUS ON: YOUNG ENTREPRENEURS

The Prince’s Trust recently en-couraged budding entrepreneursto follow their dream at an inspi-rational open day. Sponsored byInvest Northern Ireland, theevent brought together speakers,including entrepreneurMikeSouthon, and young peoplewho, have set up in business.One young entrepreneurfrom the North Coast whohas turned her back on un-employment with helpfrom The Prince’s TrustEnterprise Programme isRebecca McCrea.The 21 year old recentlystarted her new bakingbusiness venture in theParkgate area. After leav-ing school she struggled tofind a career direction anddecided to set up her ownbusiness. Passionate aboutbaking, she used these skillsand completed The Prince’sTrust Enterprise programmein preparation of starting herventure. She secured a loanand is receiving mentor sup-port.Rebecca urges young peopleconsidering self-employment tocontact The Prince’s Trust. Shesaid: “Without the help of The

Prince’s Trust, I wouldn’t bewhere I am today. ”It can be a daunting step to

jump straight from school intomanaging your own businessbut the programmes are out

there to aid and assist ouryoung entrepreneurs on theirfirst steps to success.

>> From page 39

YYoouutthh eennttrreepprreenneeuurrsshhiippssuucccceessss ssttoorriieess

■ Sir Richard Branson launchedhis first business venture at 16.

■ SirAlan Sugar foundedAmstrad at 16.

■Anya Hindmarch opened herfirst shop at 19.

■ Facebook founder MarkZuckerberg achieved billionairestatus at 23.

■ Bill Gates started his firstcompany as a young teenager.


NEWS BITES


FOCUS ON: RETIREMENT

ALMOST everyonein the world ofbusiness looks for-ward to the daythey can retire.

Indeed the notion alwaysseems idyllic. Long lazy morn-ings in bed, endless days on thegolf course and no more early-morning alarm calls all wait towelcome us at the end of ourcareers. But as we reach such atransitional point in life, doesretirement become somethingthat most of us rush to whole-heartedly or is it actually anevent that we secretly dread?Gerry Coe has spent the past50 years working as a photog-rapher. Known for his signa-ture pencil portraits, Mr Coehas developed his trade sinceleaving school. Two years agohe closed his Bangor studioand retired, to a certain degree.He said: “I came up with theold-school photographers,learning my profession andimproving my skills. Thingshave changed now. It seemsthat everyone thinks that theyare a photographer just becausethey have a good camera. It isthe customers that are sufferingfrom this change in the indus-try, particularly wedding clientswho only have one opportunityto capture lifelong memoriesfrom their perfect day.”I asked if this change in theindustry had prompted him tomove towards retirement,or if his decision had beeninfluenced by other factors.“During the recession no

one was spending money andpeople were trying to findcheaper options. This was part-ly a factor in my decision tostep back when I did. I felt likeI had stayed for as long as Icould and that I was battlingon for no reason when I hadother things that could ade-quately fill my time.”Since then Mr Coe has kept

very busy, maintaining his pas-sion of photography by givingtalks and lectures, judging formajor photographic organisa-tions and fulfilling obligationsas the president of the NorthDown camera club.He continued: “I am verylucky that I have been able tocontinue to do the things that Ienjoy, just in varied capacities.I have a big exhibition comingup in Bangor Library this Aprilthat will be made up of imagesI have taken using smartphonetechnology. This is somethingthat has particularly interestedme and I am giving lectures onthis topic on a regular basis.”

For Mr Coe, retirement wasan event to look forward to insome ways, however, he admitsthat the change of pace canbe difficult to get used to. Heexperienced a sense of guilt inthe first few weeks that madehim feel like he should bedoing something else otherthan relaxing.He said: “When you are mov-ing towards retirement you arebusy trying to think about howto fill your time. For most peo-ple, their job will just come toa total halt. One day they willget up and go to their nineto five, whereas the nextday that routine will beover. The best thing forthose retiring is to finda new hobby and havean outlet, whetherthat is in comput-ing, photographyor languages. Youcan’t just stop.”Dr SheldonHinds, a quali-fied doctorsince 1981, isapproachingretirement.After hospi-tal rota-tions heenteredfull-timegeneralpracticein theNorthDownarea.He

Ensuring a happy retirement after decades of nine-to-five routine takesplanning. Rebecca Kincaid gets some tips from two impending retirees

For mostpeople,

their job willjust come toa total halt

JOB’S DONE!WHAT NOW?

>> Turn to page 44

437 april 2014 BUSINESS MONTH


FOCUS ON RETIREMENT

is now semi-retired, countingdown the days to full retire-ment in February 2015.He said: “This has been agood way to gradually getmyself into a new routine, bystepping back from workover a period of time.“I have been to several pri-vately run seminars in therun up to this point in my lifeto approach retirement in aholistic way.

“They encouraged me toidentify my financial require-ments and plan for the future.“One of the areas coveredwas how to maintain goodmental health during thetransition.“I have been able to observemany people retiring in aprofessional capacity and Iknow that it is very importantto have plans and structure inplace.”

Retirement issomething that

Dr Hinds has been lookingforward to with a great dealof enthusiasm.At the top of his list ofthings to do is to make a de-termined effort to get fitter. Iwas reassured to hear that anew pair oftrainers havealready beenpurchased tomark the oc-casion.He con-tinued:

“While I have enjoyed gener-al practice and its challengesI feel that I am ready to seeka new direction.“I have a wide and variedcollection of interests andin particular I am lookingforward to extensive travelwith my wife.”So the advice from the frontline of retirement seems to beconsistent across the board:plan, keep busy and do thethings you enjoy. Now you’resorted.

>> From page 43


OFFLINE SECTION

MOTORING

HUNKY HONDAThe Tourer shows its class

DAY IN THE LIFE

BRIAN CLERKINASM Chartered Accountants’ Belfast office

MAN ABOUT TOWN

THE CHAIRMANHitting all the right places

PERFECTPARADISE

CANARY ISLANDSHAVE IT ALL


OUT TO LUNCH

Christie Gregg, IKEA Belfast store manager, tells Joris Minne how the global retailingphenomenon has retained a sense of intimacy and why tough managers aren’t welcome

IF IKEAmade people, Christie Greggwould be a best seller. Store managerof the popular Belfast shop, sheembodies everything that is cool aboutthe Swedish furniture giant. She is

bright, modern, youthful and bang on trend.The former paleontologist, who often jogsto work, has long had an interest in retail,having previously been a sales manager atBoots.“IKEA is a good place to work becausedespite its size it remains human-scaled andlikes to operate through consultation amongco-workers,” she says as we dig through achilled, briney crab salad in Hadski’s.The IKEA brand doesn’t appear to take

itself too seriously and rejects the image ofcorporate might. It endeared itself to usever since it unleashed its tongue-in-cheek“Don’t be so English” and “Tidy up for yourgirlfriend” TV ads series. And that love hasnot diminished over the years.The Belfast IKEA store was the first toopen in Ireland back in 2006. Eight yearslater, a competitor IKEA in Dublin andgrowing competition from discount sofawarehouses, Harry Corry and independents,has not slowed the shop’s performance.Gregg says this is down to the brand’sability to maintain its attractiveness inchanging times. “IKEA is formidable in somany ways, not least because it is flexibleand intimate despite its size,” she says. “The

family spirit is not an artificial device createdbymarketing specialists in a laboratory — itis genuine and heartfelt andmy job and thatof my co-workers is to keep that spirit alive.”She speaks without irony. That’s the thingabout IKEA; it’s just so compelling andaffordable, no one could accuse it of beingup itself.“Surely your staff and suppliers must seea tough, hard management side to youwhich is less gilded?”Modern managers don’t run successfulbusinesses using outdated authoritarianismor fear-inducing discipline, she explains.“We run a good team but we consult witheach other. Nobody knows how to sell akitchen or bathroom better than theIKEA co-workers who are posted in thosesections and their views are critical toour overall procurement policies as wellas design and presentation decisions,”she says.This cross-consultation works interna-tionally too as she regularly meets up withher counterparts from stores across theworld. “Learning and sharing from eachother’s store experiences is a permanentfeature of life at IKEA and this interchangethrows up interesting revelations.”For instance, she reveals that NorthernIreland consumers live in houses withstorage challenges and large chimneybreasts and fireplaces unlike most others

in Europe. To mine this kind of preciousinformation Gregg and her team conduct30 to 40 annual house visits to take dimen-sions, note features and style preferencesand how people use their spaces. Ulsterkitchens had sofas in them long before therest of the UK caught up, she remarks.All this helps explain why the BelfastIKEA store is the third best performing inthe entire UK.Whereas IKEA has maintained its clean-cut and rustic values, a quick walk throughthe store beside George Best Belfast CityAirport soon shows how more ornate, roco-co styles have come into play.“People change their interiors morefrequently than you’d think,” she says.“Homes are more dynamic places than everand we want to be part of that dynamism.”

Embracing thespirit of theSwedish giant

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Hadski’sCrab salad x 2 £13.00Baby hake £17.00Chowder £5.50Chips £3.00Glass wine £5.75Glass beer £2.50Suki tea £2.20Coffee £1.60Total £50.55


SHOP FRONT

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Streetview No.45: Regency Gift HouseRon McBride

IN the year the Canberrawas launched and DannyBlanchflower captainedSpurs to the double, JohnMcCullough opened his

shop in Bangor. It was 1961.McCulloughs opened as a nurs-ery shop with myriad prams,strollers and toys which today isjoined to the gift shop nextdoor. The business is now runby his son David and Jennywho runs the Gift House whichwas acquired by purchasingadjacent premises.The Gift House, which has asister branch in Newtownards,enjoys a prime seafront locationin Bangor and, despite changesin traffic flow schemes, is stillaccessible to pedestrians. Thefrontage is traditional in termsof signage (Belleek, Waterfordand Hummel) and well-stockedwindows. On either side of thedoor two handcarts full ofbeakers and mugs attract atten-tion. One window has a mix ofhousehold gifts; the other ispacked with Hornby and Airfix.The shop is well organised. It

is of medium size with enoughspace to move around easily.Browsing customers find aconsiderable range of goods onattractive shelf displays orin revolving glass cabinets.On entry, to the left there is arange of crystalware andBelleek. Interestingly, while thefactory predominantly displaysthe traditional pottery, theRegency mostly stocks themodern, stylish Belleek.Past the adjoining door tothe nursery shop is the Hornby

section. This is not a toy shopper se but does stock a bigrange. Fathers and sons alikeenjoy browsing this sectionwhich may indeed be expanded.Today digital controllers canoperate three trains on onetrack. Changed times. A localmodel railway club provides auseful customer base for whatcan be a serious hobby. Despitecompetition from the internet,the experience of seeing andtouching is a more satisfyingexperience for local customers.

Walking round the shop, awide variety of giftware is avail-able with cabinets bearingbrand names such as Fine Coun-try Arts, Yankee, Coleman andPilgrim. The shop is good forwedding presents but no longerhas a wedding list service whichseems to be dominated today bydepartment stores. Trends areobvious in the trade today withmodern, clean designs in glass-ware being more popular andthe more expensive dinner setsbeing less in demand now.The digital age is not confinedto Hornby trains as Davidpoints out: in his nursery shophe may carry out up to 50 buggyrepairs a week. He has on occa-sion had to deal with a babystroller hood in which one ofthe iPod speakers had malfunc-tioned. The way to competewith the internet, indeed, is toprovide good service.The shop, because of theHornby alone, is worth a visit.

Regency Gift House21 Bridge StreetBangor BT20 5AW02891 272776


DAY IN THE LIFEof

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Meet the manwho has gonefrom traineeto managingdirector

Brian ClerkinManaging director of ASM CharteredAccountants’ Belfast office

7amDepending on how busy I amI’ll flex my start time. However,an early morning coffee isalways high on the agenda andit is usually picked up on myway into the office. The firsttask of the day is to check forovernight emails and to reviewthe previous day’s to-do listto make sure that everythingis in hand.

8.30amI try to spend 10 minutes everymorning with my PA to go overmy diary to make sure I knowwhere I need to be that day, tomake sure that I will have therelevant papers to hand and toagree on what else needs to getsqueezed into the diary. Wealso take that opportunity toensure that the day-to-daypaperwork of a busy officekeeps flowing and doesn’t getcaught up on my desk.

10amI have always found that Itend to be most productive inthe morning so where possible I

will often block out 90 minutesor so to deal with a “chunky”task. That could be writing areport for a client or qualityassuring a report prepared byone of my colleagues. I also usethis time to review any clientproposals or marketing materialthat we are working on.

11.30amI try to spend some time everyday walking round the officeand having a quick catch-upwith the key directors andmanagers in the firm just toget a sense of any emergingissues or concerns, particularlyin respect of the deliveryof client work or staffingissues. As a firm we offer awide range of services so thereis also something interestingon the go.

12pmI set aside an hour every day todeal with client phone calls. Itry to do this before lunch sothat if there are any issueswhere the client needs anurgent response then we have

every opportunity to deal withthem on the same day. Theseissues could be anything froma fraud investigation to a tech-nical accounting query.

1pmWhere possible I try to get outto pick up my own lunch andtake the time to clear my head.Once a week I try to eat mylunch in the staff kitchenrather than at my desk so as tocatch up with colleagues in arelaxed environment.

2pmI spend two to three hours aday involved in client meet-ings, usually out at the client’spremises. This is a great oppor-tunity to spend quality timewith our clients to find outhow they are dealing with thebusiness issues that they faceand how we might assist.

4.30pmI usually leave my admin tasksto later in the day. As MD I amresponsible for liaising withthe other ASM offices, with our

international colleagues, withour key stakeholders and withour regulators. I also usuallytake the time once a day tocheck in with our practicemanager.

5.30pmOne last run through any looseends. These days that primarilymeans dealing with emails andsigning off on outbound corre-spondence. I try to take onelast look over the to-do list toget a sense of the priorities forthe rest of the week.

6.30pmHomeward bound. Since thearrival of our son I havebecome much more disciplinedabout trying to separate homeand work life. So while occa-sionally I will still work onemails at home late into theevening in recent times I ammore likely to be immediatelyimmersed in home life —and with an energetic two-year-old on our hands allthoughts of work evaporateuntil early the next morning.


BMW remains on coursedespite bumpy roadDESPITE the globally challeng-ing economic environment, theBMW Group posted recordprofits last year to maintain itsposition as the world's leadingpremiummanufacturer.Group revenues for 2013totalled €76,058m (2012:€76,848m; -1.0%), marginallydown on the previous year dueto exchange rate developments.Group profit before tax rose by1.4% to a new high of €7,913m(2012: €7,803m) despite greaterinvestment in new technolo-gies, increased competition andhigher personnel costs. Groupnet profit rose by 4.5% to thenew record value of €5,340m(2012: €5,111m).

Schools’ apprenticechallenge returnsTHE Charles Hurst ApprenticeSchool Challenge is set toreturn for 2014 following itsphenomenal success last year.The innovative post-primaryinitiative is run in conjunctionwith Business in the Communi-ty and pitches four secondaryschool teams against each other

to increase a used car’s value themost over a four-week period.Speaking at the launch of thisyear’s challenge, Charles Hurstgroup operations director ColinMcNab, said: “I am absolutelydelighted the challenge isreturning for a second year. It’s afantastic opportunity for localstudents to get first-hand experi-ence of the car industry. It willnot only test their team-working,communication, creativity andcompetitive skills, but I’m sure itwill be great fun as well.”

UK meets EuropeanCO2 emissions targetsNEW cars registered last yearin the UK collectively met aEuropean target for CO2 emis-sions, according to industrybody SMMT.Its New Car CO2 Report 2014,SMMT showed the average newcar in the UK emits 128.3g/kmCO2— a 3.6% decrease over lastyear that passes the 2015 EU-wide fleet average target of130g/km CO2. Vehicle makershave invested heavily indeveloping and market lowerCO2-emitting cars, but progresshas also been supported byconsumer buying behaviour.

Hopes lifted for fansof road motor sportsTHEMotor Sports Associationhas welcomed the launch of agovernment consultationregarding a proposed change inthe law that would allow motorsport events to take place onclosed public roads on theBritish mainland.TheMSA has been pushingsuccessive governments to de-volve power to local authoritiesto enable them to suspend theRoad Traffic Act without havingto resort to an Act of Parliament.Such an amendment wouldenable competitive motor sportevents such as stage rallies totake place on closed publicroads, as already happensacross mainland Europe, inNorthern Ireland, the ChannelIslands and the Isle of Man.

Just how good is yourdriving instructor?LEARNER drivers and theirparents will be able tomake amore informed decision whenchoosing a driving instructorthanks to changes being intro-duced by the Driver and VehicleStandards Agency (DVSA).

All qualified driving instruc-tors are checked at least onceevery four years. From April 72014, when instructors areassessed they will be given oneof the following grades:A grade (85% or over) — anoverall high standard of instruc-tion; B grade (60% or over) — asufficient level of competence;or fail (less than 60%).

Move to clampdownon insurance fraudAA INSURANCE, along withmost car insurers, will askinsurance customers for theirDriving Licence Number (DLN)from next summer, in a move tocut application fraud.This is part of a national ini-tiative being developed by theDriver and Vehicle LicensingAgency (DVLA), the Depart-ment for Transport and theinsurance industry, representedby the Association of BritishInsurers (ABI).The DLN, a 16-charactersequence, will be used to getinformation from the DVLAon the type of licence a cus-tomer holds, how long theyhave held it, and whether theyhave any driving convictions.

MOTORING NEWS

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HONDA has extend-ed the appeal of its‘C' sector Civicrange with theaddition of an

estate variant. Uniquely forthe Japanese manufacturer,the vehicle has been designedand built in Europe for the Eu-ropean market only. Manufac-tured alongside the hatchbackrange in Swindon, it is avail-able with a choice of the com-

pany's 1.8 litre petrol engineor the 1.6 litre diesel, intro-duced last year.Styling-wise, the Tourer is asimple extension of the hatch-back with the lines of theoriginal design abandoningtheir abrupt curtailment toextend their flow across thepronounced rear wheelarchesto greet the falling roofline asit pinches the rear glass area.It may be a simple extension

of the original hatchback, butit dramatically alters the per-sonality of the car to assert itsindividuality.High-speed stability has alsobeen a key focus of develop-ment which has been achievedthrough a high level of bodystiffness and good rear aerody-namic lift balance as seen onvisible parts, including thetailgate and rear window sidespoilers and some non-visible

parts such as the undertray.At its UK launch, bothengine options were tried,with the diesel asserting itsdominance over the petrol-engined model. The new light-weight 1.6-litre diesel pro-duces 120PS, and has theupper hand in the perform-ance comparison thanks to its300Nm of torque from2000rpm. With a 0-62mphtime of 10.5 seconds, its over-

SPACE RACERHonda’s Tourer is a strong challenger in the estate market, says Jim McCauley


all smoothness and ever-readypower delivery gives it theclear edge. Like the petrolmodel, its drives through a six-speed manual gearbox whichoffers short-throw precisemovement through the gears.The new range also featuresHonda's ‘Eco Assist' technologyto help owners achieve maxi-mum economy. If the car isbeing driven efficiently, thedashboard glows green, but ifthe driver slightly exceedsthe best level of throttle con-trol, the dashboard will glowwhite/green. Finally, duringheavy acceleration and deceler-ation, it will glow white. Thesystem is further enhancedwith the option of an ‘ECON'mode, which alters the map-

ping of the throttle system toensure a smoother increase intorque for a more relaxed re-sponse and greater fuel effi-ciency. Stop/start technology isalso standard on all modelswith a manual transmissionwhich can contribute up to a5g/km of CO2 saving for thediesel engine.Being finished in the highestspecification trim of EX Plus,the test car was fitted as stan-dard with the adaptive damp-ing system. This provides adial-in choice of Comfort,Normal and Dynamic settings,allowing the driver to set theresponse rate of the rear shockabsorbers. Honda claims thatit is the world's first produc-tion car to feature such a sys-

tem. To cope with the heavierpower unit, the diesel has a dif-ferent front suspension set-upfrom the petrol model.Cabin layout is familiar Civicwith the flip-up rear seat re-tained and the obvious exten-sion of the Tourer load bay,stretching the overall length ofthe car by 235mm to provide624 litres of storage. Like thehatchback, the fuel tankremains mid-vehicle allowingfor a twin level boot. While themain floor allows level accessover the rear bumper, thespace underneath can comfort-ably accommodate two cabin-approved luggage cases,offering additional security aswell as space. The level loadbay is maintained when the

rear seats are folded to in-crease load capacity to a sub-stantial 1,668 litres. Cabindimensions remain the sameas those of the hatchback withthe exception of a slight in-crease in rear headroom.Equipment levels progressthrough four levels with thesecond level SE Plus modelaiming to be the popularchoice, adding front and rearparking sensors with reversingcamera along with automaticlights and wipers, and larger17-inch alloy wheels.Overall, the Tourer addition tothe Civic range adds increasedpracticality for those whorequire additional load spacewithout sacrificing the drivingdynamics of the hatchback.

Honda Civic Tourer 1.6 Diesel

Engine: 1.6-litre i-DTEC,120PS @ 4000rpm.300Nm torque @2000rpmDrive: Via six-speed manu-al gearbox to front wheels.Selectable start/stoptechnologyPerformance: 0-62mph(100km/h) in 10.5 seconds;max, 121mph (194km/h)Fuel on combined cycle:72.4mpg (3.9 l/100km)CO2: 103gms/km; VEDBand B for £20 per annumroad taxTrim: EX PlusPrice: £26,460Insurance: ABI (16E) GroupWarranty: Three-year/90,000 miles,12 years’ anti-perforationcoverBenefit-in-Kind: 16%Euro NCAP: Five starAvailable extras: Driver assistance safety pack, detachable towhitch, roof cross bars (for standard fit roof rails), dog guard rail

TECHNOLOGYof

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Amazon Prime Instant Video, £79 peryear @www.amazon.co.ukAmazon is getting a spring makeover, as itwill be combining both its Amazon Primeservice and LoveFilm Instant into onehandy service known as Amazon PrimeInstant Video. This new service will bereplacing the streaming side of LoveFilm,as Amazon adds over 15,000 films and TVepisodes to current Amazon Primeaccounts. If you’re signed up to Prime,

you’ll get unlimited access to streamingvideo alongside one-day deliveries on yourorders, plus access to 500,000 books toborrow from the Kindle library. LoveFilm’snot completely gone though: if you preferreceiving DVDs through your letterbox, youcan still opt for that through LoveFilm,while if you don’t want any next-day deliver-ies and you just want Prime Instant Video,you can take a monthly subscription.

Toshiba Encore tablet, £299 @ www.pcworld.co.ukThe new Toshiba Encore tablet is packed full offeatures and apps for both productivity as well asentertainment. Fully optimised for Windows 8.1, thisultra-portable tablet is ideal for users wanting tomove seamlessly between work and play with asingle device. With a distinctive style and durable,ergonomic design, the Encore is optimised for use inportrait mode and easy to handle in one hand. Fullversions of Word 2013, Excel 2013,PowerPoint 2013 and OneNote 2013 areincluded to boost productivity on thego, whether it’s reading, editing,creating or sharing documents.Seven GB of free online SkyDrivestorage means files can be storedin the cloud for fast access andsynchronisation with otherWindows devices and withInstant Goto lower power con-sumption and extend batterylife, the Toshiba Encore is veryefficient on the move.

Galaxy TV Bed, £999 @www.bensonsforbeds.comThis may not be the best thingto purchase if you already havetrouble getting out of bed in themorning, as the Galaxy com-bines a cinema room with a styl-ish bed. It is a luxurious madrasfaux leather TV bed that catersfor a slim-line TV which can bediscretely stored inside an ultraslim-foot end. It also features aside rail cavity that offers aconcurrent space for a DVDrecorder and satellite box toenhance your viewing experi-ence. Cabling is kept neat andsafe thanks to its cable manage-ment system and quality sprungslats support the mattress toprovide a more comfortablenight’s sleep. TV not included.

HTC One Gold Smartphone, prices vary on plan @Carphonewarehouse.co.ukThe award-winning HTC One is in a sophisticated new colour which builds onthe existing silver, black, blue and red colour palette. The new colour still packsthe power and acclaimed features of this premium model into a brushed bodywith black accents that oozes luxury and style. The HTC One has won interna-tional recognition for its stunning design. With its striking brushed finish andmetal design, the latest shade is one of the key tones of the season. This latestaddition includes HTC Zoe, HTC BlinkFeed and HTC BoomSound.


GMcG

FASHION

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Grainne McGarvey

METALLICS were one of the shin-ing stars at this year’s LondonFashionWeek and once designersfeature a look, it isn’t long be-fore it hits the high street.

Going more mainstreammakes metallicmore of an appropriate option for theoffice, but bling crystals or mirroredembellishments are probably a tad much fordaytime attire. By keeping your other itemsreasonably simple you should get away withwearing it, especially by teaming with neutraltones. Guys can also get behind this shim-mery trend by opting for accessories, T-shirtsor even shiny outerwear for the more daring.

Let it SShhiinnee

Medium satchel,£179 @ Reiss


AutographTop, £49@ M&S

Gold hightops, £24.99@ deichmann

Jacquard tunic,£159 @ TedBaker

Marta Jonssonmetallic tote,£225 @Debenhams

Mens T-shirtwith metallichem, £14 @ ASOS

Metallicjacket, approx£1,830 @brioni.com

Metallic skirt, £25@ River Island


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A WHALE OF AN ISLAND

Seeking Oscar-worthy sunshine along with a hint of decadence? Linda Cookson'svisit to this tranquil Canary Islands coincided with the filming of a blockbuster

LIGHTS, camera, action! The smallfishing port of Playa de Santiago,on the southern tip of the CanaryIslands of La Gomera, had neverknown such excitement. Chosen

as a key shooting location for Ron Howard'sforthcoming film In the Heart of the Sea(due for release in 2015), its quayside wasabuzz with trailers and catering vans.Burly cameramen were lugging equip-ment on to speedboats. Runners with clip-boards were rounding up a bus-load ofenthusiastic extras for costume fittings.And a cluster of schoolgirls were star-spot-ting like mad, as Hollywood's finest, clad in19th-century sailors' gear, made their waytowards the banana-yellow shuttle-boatthat was to whisk them out to film at sea.Based on the same true story that inspiredHermanMelville'sMobyDick, NathanielPhilbrick's award-winning novel In the Heartof the Sea (published in 2000) recounts thetragedy of the whaling ship Essex, sunk by aspermwhale in themiddle of the PacificOcean. A fantastic black-rigged replica of theill-fated vessel bobbed incongruously on thecalm horizon, its masts bathed in a goldenwash of Canarian sunshine.At first sight, pint-sized La Gomera —sitting prettily in an island chain renownedfor its equable climate — might seem astrange location to have settled on for atale built around tempest-lashed heroics.Deadly waves are in short supply. The film-

makers had to construct a special infinitypool by the former tomato packaging ware-house on nearby Tapahuga Beach to simu-late the full-on storm scenes.But Howard and his scouts definitelyknew what they were doing. As the second-smallest of the Canary Islands, a one-hourferry-ride from Tenerife and with no inter-national airport, La Gomera is a worldapart from the mass-tourism of its largerneighbours. With only a handful of low-keyresorts, there was never going to be muchrisk of the Essex's hapless crew fetching upon a jarring parade of neon-signed shopspeddling water-wings or advertising jet-skis for hire. Instead, the island's starklyrugged coastline of awesome volcanic cliffsrippling down to the water's edge in stiffrocky folds, feels almost eerily enduring —and (crucially for the film, of course) total-ly undateable. Inland, the mountainouscentre is cloaked in a dense, misty rainfor-est of ancient trees hung, Druid-like, withbeards of moss and lichen. It's as timelessand unspoilt as you could hope for.As a place to visit in springtime, LaGomera is a total delight. The tangledgreen groves of the rainforest are rippledwith carpets of brilliant pink bicacaros,Canarian bell flowers. Mountain villagesfloat in drifts of white broom and almondblossom. On the coast, fringed with datepalms and banana trees, the sea sparklespeacefully in temperatures that seldom

vary from around 20C. Don't expect theblazing heat or golden sands of Caribbeanbeaches. Most beaches are rocky. (Theremay even be a little rain!) But if you'researching for sun and serenity in a gentle,unspoilt island retreat steeped in tradition— look no further. And you can certainly beconfident of a genuinely warm welcomefrom La Gomera's friendly locals, keen toshare their homeland's special characterwith visitors. With the island still verymuch a novice in the tourism stakes, thewhole ambience is refreshingly uncynical.Such tourism as there currently is can befound mainly on the west coast. Valle GranRey has a stunning sprawl of wild androcky black-sand beaches, backed bymajestic ravines (Valle Gran Rey meansValley of the Kings). Otherwise, mostvisitors-in-the-know head south for unpre-tentious Playa de Santiago, a friendly work-ing fishing settlement with an endearinglyscruffy town beach. This is La Gomera'ssunniest spot and it's where I chose to stay(along, as it turns out, with the directorand most of the cast and crew of In theHeart of the Sea).We certainly weren't roughing it. Thefour-star Hotel Jardin Tecina, set on acliff-top above the town, is laid out likea traditional Canarian village in exuberant,flower-filled gardens. There are palm-fringedbars and terraces, and attentive waitersgalore — giving plenty of scope for your own

55BUSINESS MONTH 7 April 2014

N ISLAND

brand of silver-screen decadence as youlounge like a diva by the poolside. It's also awonderfully tranquil spot. The vistas fromthe sea-view rooms are spectacular. You canwhile away hours on your balcony watchingthe colours of the water change fromturquoise to indigo to lilac as butterflies andexotic birds flit all around you.On day four of my stay, I wandered downtowards the town and discovered that myfriendly local beach bar — the ramshackleLa Chalana — had undergone a dramaticchange of location. Its wonky tables andcane chairs were now spilling haphazardlyon to the edge of an early 19th-centuryPolynesian village. A nearby stretch ofbanana plantation had been cleared forcarpentry and set-building, and crew-members with blow-torches were busilydistressing a fleet of rustic-looking canoesthat had been carved from hollowed-outtree-trunks. A mixture of real palm treesand bright green fakes had sprung up onthe beach. Tangled branches and planks ofdriftwood had been choreographed artfullyinto a photogenic array of native huts. Anda derelict warehouse had been transformedinto a small chapel. A set dresser perchedon a ladder with what looked like a two-tonbrass church bell clutched in her free hand.It was obviously as light as a feather.

La Chalana's affable host, Eric was serv-ing up tapas and beer by the trayful. Hewas not alone in his enthusiasm. EveryoneI spoke to on the island was thrilled by thefilming — not least since the star, ChrisHemsworth, is married to Elsa Pataky, apopular Spanish actress who had accompa-nied him for the shoot. More pragmaticallyIn the Heart of the Sea brought a crucialsource of additional revenue to enable theisland to address the environmental dam-age caused by a disastrous forest fire in2012 — as well as much-needed employ-ment for locals as caterers, security guardsand prop-makers.La Gomera is also looking to the future.Although the island has been recognisedfor some time as a paradise for walkers, itsmore mainstream attractions — uncom-mercialised beaches and picture-postcardmountain villages — have remained a well-kept secret. There's real excitement nowamong Gomeros that this major, potential-ly world-wide, exposure will encouragenew visitors to fall for their island's sleepycharms.Towards the end of my visit, inspired bythe filming, I decided to embrace the whaletheme in earnest. I booked a trip on boardJose Miguel's excursion boat Tina and tookto the water. I was rewarded with a marine

ballet, courtesy of a pod of pilot whales andan especially obliging school of dolphinswho flipped and dipped in glorious silverarcs as they rode in and out of the bowwave from our boat as it headed out to sea.I looked back at the bulking headlands ofLa Gomera's proud cliffs, veined withblood-red bands of sandstone, and thenahead to the horizon, where the doughtyship Essex had magically split in two, whilecameramen scudded around in dinghies,capturing the moment of its doom.I really was in the heart of the sea, I re-alised. And lovely La Gomera is well on itsway to becoming a film star in its ownright. Don't wait for the movie — go now!

Travel essentialsStaying thereLinda Cookson travelled with SovereignLuxury Travel (0843 770 4526;sovereign.com), which offers a week’sB&B at the Hotel Jardin Tecina in LaGomera from £649pp, based on twosharing. The package includes returnflights to Tenerife South, privatetransfers to Los Christianos ferry port onTenerife, the ferry crossing to La Gomeraand private transfers to the hotel.Seeing thereA four-hour whale-watching boat tripfrom Playa de Santiago costs €43,inclusive of barbecued fish lunch (€23children aged 5-10; under 5s free).See: excursiones-tina.com.


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Dwarika’s Resort,NepalIn the 1950s, conservationistDwarika Das Shrestha tookover a collection of heritagehouses in Kathmandu andspent 30 years turning theminto a five-star hotel. InOctober, the Shrestha familyopened their second resort,only an hour’s drive from theNepalese capital. Situatedamid Himalayan peaks, thefocus is on spa therapies.Options range from Ayurvedicmassages to Pancha KoshaNewari, which uses herbs andpressure to realign the body.Dwarika’s Resort, Nepal (00977 11 490 612, dwarikas.com).Doubles from US$461 (£307),half board. Treatments fromNR3,000 (£18).

Vana Retreat, IndiaThis 21-acre estate opened inJanuary outside Dehradun, thecapital of the Indian state ofUttarakhand. Set on a smallplateau, it ties together theprinciples of Ayurveda, Tibetanhealing, yoga and personal fit-ness, to offer guests a tailoredwellness programme. Whetheryou're there for weight man-agement, to destress or detox,the team of doctors, dieticiansand therapists will devise aplan best suited to your needs.Vana, Malsi Estate, Dehradun,Uttarakhand, India (00 91 114060 0000, vanaretreats.com

Amankora, BhutanAmanresorts has five inter-linked lodges in Bhutan. Theidea is that guests can form acircuit around Bhutan’s moun-tain passes, but you can alsosimply shack up in one placefor the duration of your stay.Each is built to resemble thetraditional Dzong-style archi-tecture of the BhutaneseHimalayas, but the first out-post in Paro just nudges intothe lead, thanks to its two-storey spa, scented withcedarwood and incense.Amankora, Paro, Bhutan(00 975 8 272 333,amanresorts.com). Doublesfrom US$1,860 (£1,240),all inclusive. Treatmentsfrom US$108 (£72).

Ananda, IndiaRoutinely voted among thebest spa hotels in the world,,this resort stands between thecities of Haridwar andRishikesh. Set up by AshokKhanna and his wife Neelammore than 20 years ago, it hasa reputation that has capturedthe attention of Oprah Winfrey,among other notable guests.Meals are designed to fit yourbody type and the expansivespa has 24 treatment rooms,with 80 therapies.Ananda, Narendranagar,Uttarakhand, India (00 91 1244516650, anandaspa.com).Doubles from US$455 (£303),room only. Treatments fromINR1,200 (£11).

Begnas LakeResort, NepalFor affordable luxury at loftyheights, seek out this tranquillakeside retreat in the PokharaValley of western Nepal. It spe-cialises in low-cost spa breakswith side orders of healthy veg-etarian food. Yoga takes placein the garden pavilion eachmorning and afternoon, whiletreatments are administered inelevated rooms above the lakeshore. Hikes, bird-watching andboating excursions comple-ment the healing feeling.Begnas Lake Resort, Pokhara,Nepal (00 977 61 56 0030,begnaslakeresort.com).Doubles from US$150 (£100),B&B. Treatments from US$10(£6.60).

Uma by Como,BhutanWhen the King of Bhutanneeds a break, he checks intothis hotel. One of two Comoproperties in the mountainkingdom, this is the newest ofthe exclusive set. Opened inthe Punakha Valley two yearsago, it has nine rooms, twovillas and a secludedShambala spa. Hidden in awoodland glade, you’ll findtreatment rooms, hot-stonebaths and Asian-inspiredtherapies such as a 60-minuteIndian head massage.Uma by Como, Punakha,Bhutan (00 975 8 271597,comohotels.com

The big Six: Himalayan spa hotels


NEWS BITES


OUT AND ABOUT

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Appointments

GOING back to hisyouth (and it seemsfarther away thanever before thesedays) The Chairman

was impressed with the aca-demic excellence on showamong the marketing and busi-ness studies students from theUniversity of Ulster.A plethora of young talentwas recognised at the universi-ty’s Department of Marketing,Entrepreneurship and Strate-gy’s Excellence Awards, spon-sored by a number of localcompanies, which celebratedthe hard work and dedicationof students from UU’s class of2012/2013.The delightful associatehead of department, DDrrDDaanniieellllee MMccCCaarrttaann--QQuuiinnnncongratulated students on theirsuccess at the event in theJordanstown campus.Among the sponsors wereProperty News, HastingsHotels, Wrightbus, StakeholderGroup, Moy Park, RutledgeRecruitment and Training,Envision Management Consul-tants and First Trust.Other sponsors were theMarketing Institute of Ireland,the Chartered Institute ofMarketing, Chartered Accoun-tants Ireland and the CharteredInstitute of ManagementAccountants.Picking up the prizes for BestOverall Final-Year Studentswere CCiiaarraaMMccCCooyy and SSuuzzaannnneeWWrraayy. Clever Ciara, fromMaghera, graduated with a first-class BSc honours degree inmarketing with a diploma inprofessional practice following aplacement with Tourism Ire-land. And super Suzanne, fromWaringstown, achieved a first-class honours in BSc marketingand has secured a full-timejob as an events coordinatorwith Hastings Europa Hotel.

But not all the winners fittedthe traditional student bracket.Other winners included theWrighbus Best Overall Student,Susan Templeton, who wasborn and bred in Belfast, thenlived in South Africa for sevenyears and then Harrogate innorth Yorkshire for seven years,before returning to NorthernIreland 19 years ago with noformal qualifications.The Rutledge Recruitment andTraining Award for ExcellenceBest Final Year Student went tomum-of-twoMMiirriiaammSSiillkkee, CEOof the College of Psychiatrists,who was previously manager ofthe Irish College of Psychiatristsand prior to that worked for theRoyal College of Radiologists inthe UK and Guinness Ireland.

Our man about town witnessed well-deserved awards and rubbedshoulders with royalty, but is still perplexed over a collective noun

Campervan rental company Bunk Campers has received a significant loan from theGrowth Loan Fund to facilitate its rapid growth, exports overseas, and strong ambitionwithin the Ireland and UK markets. Pictured, from left, are Louise Corken, director, BunkCampers; David McCurley, senior investment manager, WhiteRock Capital Partners; andKeith Charlton, managing director, Bunk Campers.

Steve Amos has beenappointed chair of ClanmilHousing Group. Havingbeen a member of theClanmil board of managementsince 2011, he now takes thetop role at the associationwhich provides 3,500 socialand affordable homesthroughout Northern Irelandfor families and older people.

Ciaran Lowry has beenappointed businessdevelopment executive atThe Coffee Porter atHenderson Foodservice. Hehas a degree in hospitalitymanagement and 25 years’experience in the cateringand food service industry.

David Gavaghan, chiefexecutive of Titanic Quarter,has been appointed aschair of its new board ofdirectors. His posting isone of 11 new appointmentsto the Visit Belfast board.

Andy Baird, the managing director of Planet Solar, has received the award forOutstanding Commitment to the renewable energy sector in Northern Ireland at theprestigious Action Renewables Energy Awards which took place in the Stormont Hotel.Pictured are Andrew Ryan, Tughans Solicitors; Andy Baird; Green Goddess, GenevievePorter; and Jamie Delargy. Picture by Brian Morrison.

Ian Jordan, centre, director,corporate banking division, UlsterBank, Colin McDonald, (left) chiefexecutive of the RUAS, and CormacMcKervey, senior agriculturemanager, Ulster Bank, officiallylaunched the 2014 Balmoral Showat the King’s Hall complex. Theshow, which will take placeMay 14-16 at Balmoral Park, willbe Ulster Bank’s sixth year ofprincipal sponsorship.

with TheCHAIRMAN


Appointments

Newry-based EnviroGroup has secured a loan from the Growth Loan Fund that will enable it to create up to 15 jobsat the firm’s head office and further grow its Northern Ireland business, while developing a franchise model to berolled out across the UK and the Republic of Ireland. Pictured are (left) David McCurley, senior investmentmanager, WhiteRock Capital Partners, and Paul Devenny, managing director, EnviroGroup.

Local nursery group, Little Rayshas invested £20,000 and in returngot 400 happy children each takinghuge pleasure in their brand newand specially commissionedsheltered outdoor play areas. Thenurseries, located in Ballymena,Moira and Lisburn, now all boastthe fantastic outdoor areas whichfeature a sheltered roofed areaand 3G grass ensuring the childrencan play outside no matter whatthe weather. Pictured enjoyingsome outdoor play at Little Raysare Katie McCusker and AidenO’Callaghan, both aged four, withMichelle Rea, owner of Little RaysNursery.

A Glengormley teenage basketball player selected to be a part of theIreland U16 basketball squad at this year’s European Championships hasbeen named as the latest recipient of the Rainbow Communications SportsAward in partnership with the Mary Peters Trust. Fifteen-year-old ConnorMcCann was chosen to receive this prestigious award to help fund hisinternational team training as he prepares for the European games inMacedonia this summer. Conor received his award from chairman of theMary Peters Trust, Eilish Rutherford, and director of sales and marketingat Rainbow Communications, Stuart Carson.

AS The Chairman had cause tomuse a few weeks back, what isthe collective term for a gather-ing of engineers? He was hon-oured to join some of the finestengineering minds from North-ern Ireland and further afieldat the Institution of Engineer-ing and Technology’s annual

dinner in the Culloden Hotel.IET president JJaayynnee BBrraaddyy,now a partner at Kernel Capi-tal, reflected on whether engi-neers are born, not made, as inher speech she recalled writinga begging letter asking if shecould join the-then IEE — atthe tender age of 11. Fast-track

Stephen Mills has beenappointed businessdevelopment manager –Marine at McCue CraftedFit. He has more than 25years’ experience in thefit-out of specialist luxuryinteriors.

Chris Guilfoyle has beenappointed vendor manager,asset finance, acrossNorthern Ireland and theRepublic, at Close BrothersCommercial Finance. He hasover 15 years’ experience inthe machinery industry. Hiscareer includes roles atCaterpillar, Komatsu, Kleemanand RBS Lombard, Ireland.

Kevin Keegan has beenappointed head of humanresources at Ulster Bank. Hemost recently worked inconsulting. Previous postsinclude group HR directorat Greencore Group, vice-president of HR at StateStreet and HR directorwith Kerry Group.


THE CHAIRMAN

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ine

Appointments

Kieran McGaughey has beenappointed as a paralegal in theproperty department atCleaver Fulton Rankin. Hegained a politics degree fromQueens University, Belfast,before studying law atNorthumbria University, wherehe also completed the legalpractice course, graduatingwith a commendation.

Sean Craig has been appointedas a partner in the disputeresolution team at Arthur Cox,Belfast. He has practised as asolicitor for over 25 years andhas a wealth of experienceacross a broad range of areasincluding defending buildingand financial professionals.

Lynsey Elliott has beenappointed as an associate inthe finance department atArthur Cox, Belfast. AnEnglish literature graduate,she has a masters in legalscience from Queen’sUniversity, Belfast andqualified as a solicitor in 2011.

Duke of York to Bel Tel Towers,as the newspaper launched its50 Jobs in 50 Days apprentice-ships campaign.The Chairman believes theTele folk were briefed thatPrince Andrew likes just a glassof water, room temperature, onsuch engagements, thoughscones and tea and coffee wereprovided for the many greatcompanies and their appren-tices who attended. The smell offresh paint is another given forroyal nostrils. All the companiesand their apprentices were ex-tremely gracious while waitingin the Tele’s boardroom for thegreat man to arrive. OnceDavid

Elliottwas in place, Prince An-drew soon followed. He was ac-companied by private secretaryAmanda Thirsk, and HRH leftdeeply impressed by the com-mitment to apprenticeshipsshown by business leaders suchasMichael Dowds of WilliamCoates,Keith Stewart of IrwinElectrical,MaireadMeyer ofBT, AnneMcKiver of KivercoandNualaMarken ofJDMcGeown, and many, manyothers. The Chairman believesthe Bel Tel is extremely gratefulto those who took the trouble toattend, and wishes all the ap-prentices the best of luck intheir careers.

Christopher Morrow, communications manager at Northern Ireland Chamber of Commerce and Industry, ispresented with the Communications Professional of the Year award by Ceriann Mullins, director ofmarkettiers4dc, at the PRmoment.com Golden Hedgehog Awards in Manchester.

neers are born, not made, asin her speech she recalled writ-ing a begging letter asking ifshe could join the-then IEE —at the tender age of 11. Fast-track a few years, and Ms Bradyinvited IET past-president andAcorn Computers co-founderAny Hopper to present Wright-bus co-founder DrWilliamWright CBE with the IET’s in-augural award for engineeringexcellence. Dr Wright was en-gaging company as always andfull of stories about the effer-vescent Mayor of London BorisJohnson, at whose bidding anew London bus — eventuallydesigned by the Ballymena ti-tans of industry — was commis-sioned. The Chairman alsomanaged a chat with FarmWiz-ard manaing director and co-founder Terry Canning, CirdanImaging and ex-Andor manHugh Cormican, Matrix chair-man Bryan Keating and TimBrundle, director of innovationat the University of Ulster. De-spite the glittering company,The Chairman is still no closerto a figuring out the collectiveterm for a gathering of engi-neers, so suggestions welcome.

----A MAN’S man for a’ that . . . therank is but the guinea’s stamp .. . but even Rabbie Burns him-self would have felt a little star-struck at the visit ofHRH the

Minister for the Department of Agriculture and Rural Development, Michelle O’Neill haslaunched Action Cancer’s Big Bus, supported by SuperValu from Parliament Buildings,Stormont, setting it off on its way to the Balmoral Show. The Big Bus will offer freeMOT health checks for people aged 16+ and breast screenings to women aged 40-49and 70-plus (outside NHS screening age) to showgoers during May 14-16. Pictured withthe minister are Nigel Briggs, MD Musgrave Retail Partners NI, and Gareth Kirk, CEOAction Cancer.


Kevin McQuillan hasbeen appointed as anassociate in the corporatedepartment at Arthur Cox,Belfast. A graduate ofQueen’s University Belfast,he recently completed asolicitor training contractwith Mills Selig Solicitors.

Karla Dooey has beenappointed as an associate atArthur Cox, Belfast. Prior tojoining the firm, she was asolicitor at Hillyer McKeownLLP in Chester and hasover five years’ experienceof dealing with clientsacross a variety of sectorson commercial andcontractual issues.

Joanne Mulholland has beenappointed as an associatein the property departmentat Arthur Cox, Belfast. Shestudied law at Queen’sUniversity, Belfast andhas acted for several ofthe UK’s leading real estatecompanies.

Appointments

Asda Northern Ireland has broughttogether 14 of its most promisinglocal female colleagues for a mas-terclass recognising women inleadership. The retailer, whichemploys over3,200 women in NI —65% if its total local workforce —staged the event at its AntrimRetail Academy. The guest speak-ers were Gillian McDowell from thePolice Service of Northern Ireland,and Gillian McKee from Business inthe Community NI. Pictured areCharlotte Elliott, regional peoplemanager for Asda NI; GillianMcDowell; Gillian McKee; and KateOakes, general store manager ofAsda Downpatrick.

Northern Ireland Travel News (NITN) has entered the digital age with the launch of a free interactive app andmulti-media edition that runs across all forms of computer, tablet and mobile device. Checking out the onlineedition, which will complement the existing printed edition, are NI Travel News directors Jonathan Adair, left, andBrian Ogle,right, with Ciaran Mulligan of digital edition partner Multitrip.com.

Southern Education and Library Board human resource staff are pictureafter being presented with their CIPD Certificate, having successfullycompleted the Intermediate Diploma in Human Resource Managementwith DMS Ireland. From left are: Emma Clarke, Lynette Donnelly, AoifeDarragh, Joanne Coleman, Lynn Carson (DMS Ireland), Mary Garvey,Michelle Mullan, Geraldine McCann, Lorraine Hart.

Neal Kelly, fresh foods director at the Henderson Group, launches the LocalSupplier Awards that will take place at the 2014 Balmoral Show on Friday,May 16. The awards, which celebrate platinum sponsor Spar’s links withNorthern Ireland farmers and growers, will be held during a Spar suppliers’breakfast and will honour local products, companies and innovationsthrough three categories.


LEESON’S LAST WORD

with NickLeeson

Iam fortunate to hold twoqualifications in furthereducation. One, a Bachelorof Science from a Londonuniversity, the other a Mas-

ters from the School of Life, insticking my head in the sand. Oneachieved through a certainamount of hard work, the otherthrough equal amounts of igno-rance and stupidity.Yet I use the word fortunate andgenuinely mean it. Since the penhit the desk on the last day ofexaminations, I’ve never used theformer again. The second is withme all of the time, it’s part of myDNA and that’s not necessarily abad thing. We are all the sum ofour experiences, good and bad.We should encourage and pro-mote the good and discourageand learn from the bad.Stress is a constant factor in allof our lives. A certain amount ofstress is good, we actually thriveand become stronger because ofit, but there is a line, past which itbecomes unhealthy. I’ve testedboth extremities, both in businessand my personal life and haveregularly swayed between the twoand can attest to the damage thatcan be done. I hate seeing it inpeople as I was that soldier, myactions were extreme, granted,but the consequences of uncon-trolled stress are always the same— decreased productivity, rela-tionship problems, bad decisionmaking and ultimately ill-health.When you have run the gauntletof all three, you are really puttingyour life on the line. Too muchstress debilitates, it runs youdown and ultimately incapaci-tates, yet it can be controlled.Stress is controlled by commu-nication, by sharing your worriesand concerns and by understand-ing what is happening. Communi-cation leads to education whichin turn empowers you to dealwith your issues. Sticking yourhead in the sand like I did andhoping things will either go awayor get better on their own is nevergoing to work, I can guaranteethat. Men aren’t great at showing

their fears or worries, women arefar better. Bar a bit of ‘man flu’,there’s not too much that weshare with anyone from a healthperspective, yet there are just asmany threats for both gender butmen more typically think thatthey can cope.It’s difficult to step back and takean objective view of your life;where you would like to be com-pared to where you actually are onthemetrics that are important. Itwas forced uponme; I went toprison in Singapore for four and ahalf years and with that much timeat my disposal and with some fairlyintensive dissection left me withthe stark conclusion that I didn’treally like what I had become. Myjourney had takenmany turns andstress had certainly played a part.Shortly, I would be diagnosedwith colon cancer — a consequenceof the lifestyle that I was living.Stress was a huge part of this andnot dealing with the situation.Stressors change throughout yourlifetime, the prospect of ill-health isa constant. The body is a great toolinmaking you aware of the threats.

I ignored every signal that was sentme, pushingmy existence to thelimit — I had an emergency opera-tion on August 8 1998 to removeone-third of my colon after a lunghad collapsed.I’ve had some difficult times.What was the worst? It’s always thesame— not knowing. Again, this iswhy communication is so impor-tant. Financial worries are always astressor. Debt is impacting oneveryone’s life far more than it didin the past. As with stress itdebilitates, it overwhelms, it inca-pacitates. I see every day the terri-ble consequences that it can have— it doesn’t need to be that way!

Colon cancer was the price I paid for my lifestyle and ignoring my body’s warnings.Unhealthy stress cost me dearly yet by sharing our worries we can control it

There areas many

threats for bothsexes. Men thinkthey can cope

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