Bank of England has a message for Town Firms

The Bank of England's role has changed significantly

Tom Henderson, Deputy Agent for Greater London outlined the drivers for change, the changes in the Bank's responsibilities and powers, and their impact on the business community at a recent breakfast meeting, hosted by the Worthing and Adur Chamber of Commerce at the Ardington Hotel, attended by a select number of local business leaders.

Tom gave a brief introduction to the Bank and its two main policy bodies, the Monetary Policy Committee and the Financial Policy Committee. An explanation was given of the MPC’s role in inflation targeting and the FPC’s role in Macro prudential supervision and the distinction between Maco-Pru and Micro-Pru, or firm level supervision, which is the Prudential regulation Authorities role (the PRA are part of the Bank).  Tom touched on the international nature of banking regulation and on the Basel framework’s role in causing Banks to hold more capital and to better assess the risks in their lending. Tom emphasised the policy maker’s view, the well capitalised banks are now in a better position to lend.

Tom also explained that businesses saw credit conditions being quite different for firms of different sizes: big firms report very easy conditions with the banks, and all sorts of other lenders, very willing to fund them; but as firm size reduces conditions become tougher with the very smallest micro firms struggling to find funding.

There was a round table discussion of credit conditions. Tom questioned if there was some sort of natural selection process through the downturn – are those left those who had a bias against borrowing, or at least high levels of gearing? Most businesses agreed that this was happening.

An interesting discussion ensued and it became clear that established firms, with a decent trading history and who were owner occupiers, or had other significant collateral, found lending conditions easy but that even successful high growth younger firms found borrowing very difficult, and that this was not helped by the very slow and tortuous credit assessment process of the high street banks.

Come and join us free of charge for late lunch and our business networking event on Thursday 9th July from 2-4pm We are pleased to welcome Sonny Cutting as this month’s guest speaker. Sonny’s presentation ‘Communication is the KEY to Success and Failure’ is aimed to give businesses an insight into the art of affective advertising. In a world where consumers are saturated with brands, it is important to ensure that you’re communicating a message that will make an impact. Sonny Cutting is Managing Director of Sussex Pages - the Business Marketing Network. The company is a new style of Advertising agency which offers Digital, Creative and Social Media services across Sussex.   The Networking Hub is a free B2B networking event hosted by Basepoint in our business centres across the country. The events are open to all kinds of businesses and our aim is to give all those that attend the opportunity to meet new people, to build on existing business relationships and to generate new leads.   The Networking Hub format is largely informal, with a brief talk from a local guest speaker.   Spaces at this event are limited. To reserve your place please call Roxanne or Sue on 01273 467500 or email shoreham@basepoint.co.uk. We look forward to welcoming you to Basepoint Business Centre, Little High Street, Shoreham-by-Sea, West Sussex, BN43 5EG. Click here for directions Basepoint Shoreham respects your privacy. You have received this email because you have been in contact with us before, or because you have registered an interest in receiving this kind of information. If you feel you have received it in error, or do not wish to receive further emails, simply choose the unsubscribe link below. You will automatically be removed from this list.   Powered by greenmessage - the environmental communication specialists If you do not wish to receive further communication, please click here to unsubscribe

 

The deadline for the second round of applications for Worthing Youth Council's Seafront Improvement Grants has been extended, but all artists, creatives, individuals and groups who are thinking of applying still do not have too long.  Final designs must be submitted by 4.00pm on Friday 10th July 2015.

Funded by Worthing Borough Council, this scheme is looking for creative ideas which celebrate Worthing seafront promenade and inspire both visitors and residents.

For example, we are looking for original and vibrant designs for:
•    commemorative plaques
•    art installations
•    planters
•    sensory trails or maps

From Splash Point in the east through to the Lido in the west and including Worthing Pier, Seafront Grants are available for local groups and individual artists in the Worthing Community, with winning designs being awarded up to £2,000 per application.

A small panel comprising of Worthing Youth Council, Worthing Council Leader Councillor Daniel Humphreys and Worthing Journal journalist Paul Holden will decide which applications will receive a grant.

Cllr Daniel Humphreys, Leader Worthing Borough Council adds "I am constantly impressed by the creativity of the residents of Worthing.  So I am really looking forward to meeting up with the Worthing Youth Council and Paul Holden to judge these entries later in the month and seeing the winning entries in place this summer.  Worthing is in the midst of ambitious regeneration plans and this Seafront Improvement Grant, encouraging cultural and artistic regeneration also, is at the very heart of those ambitions."

Closing date: Friday, 10th July 2015.  To submit an entry please visit the Adur and Worthing website www.adur-worthing.gov.uk/seafront-grants for full details or email Wendy Francis wendy.francis@adur-worthing.gov.uk.  

Broadwater and East Worthing: Parking Review and CPZ Amendment

Consultation period: 18/06/2015 - 09/07/2015

Further to previous communications on parking issues in parts of Broadwater and East Worthing, please refer to the link below which should be self explanatory. All representations received over the next three weeks will be reported to County Councillors later this year and a decision made on whether to proceed.

Site notices have been erected in Broadwater today and East Worthing will follow tomorrow. Hard copies of the plans are available to view in Worthing Library and in Portland House in Richmond Road.

Yours Sincerely

Miles Davy

https://www.westsussex.gov.uk/roads-and-travel/traffic-regulation-orders/live-consultations-for-traffic-regulation-orders/worthing-live-tro-consultations/

Sussex Transport & Rabbit Waste Management successfully worked with the recent Wildlife Festival at Shoreham Airport

Sussex Transport commented We were delighted to have been given the opportunity to work with the contractors on site for the inaugural WILDLIFE festival based at Brighton City Airport in Shoreham last weekend. ( June 6^th & 7^th)

The festival saw around 35,000 visitors to the site each day of the weekend – many of whom came from all over the UK to watch such acts as Rudimental, Disclosure and George Ezra perform.

It has been reported that the weekend was a resounding success and provided a huge boost for the local economy as the two day festival meant  many of the 35,000 visitors were booking into hotels and using local business for food and drink etc  – it really put Shoreham (and surrounding) on the map!  

With only 15 arrests reported over the entire weekend and only 18 public complaints logged on Saturday evening – and no traffic issues whatsoever – infact some locals commented that the event caused less disruption to the town than the annual Shoreham Airshow – it would seem that the WILDLIFE festival was a resounding success. And plans for 2016 event are already being talked about...

 

Rabbit Waste Management  commented "The work we did on the festival site – moving containers with one of our crane mounted HIAB lorries went without a hitch and we would be happy to help again next year. Rabbit Waste Management have been involved in the waste service planning for the Wildlife Music Festival for some weeks, this meant that when the event took place, the planning paid off.
Rabbit worked primarily with the event cleaning company by supplying bulk containers, skips and dustcart services both during and after the event, with all of the waste collected coming back to our Lancing facility for recycling or energy recovery – making the music festival an almost zero-to-landfill event.
It was a great and well organised event and we look forward to working with Wildlife Music Festival again next year”

Adur & Worthing Council to discuss key Regeneration tender plans for Worthing Town Centre

On Tuesday 9th June 2015 Adur and Worthing Council announced that Mosaic Global Investments Limited are the new owners and developers of the Teville Gate site in Worthing.  This exciting announcement marks another major step in our many ambitious regeneration plans for Worthing.

Daniel Humphreys, Leader Worthing Council adds "I am delighted to formally welcome Mosaic Global Investments Limited  as the new owners and developers of Teville Gate.  Their professionalism and vision for this major develpment in the heart of Worthing is very exciting.  Their commitment to creating jobs for our local residents is to be applauded and Adur & Worthing look forward to continuing to work with them on this project, which is key to our major regeration plans for Worthing."

Worthing Council has been working with senior colleagues at West Sussex County Council to secure future investment that will support our economic growth ambitions. Over the next five years, West Sussex County Council and Worthing Borough Council are committed to driving significant public and private investment into Worthing, to fund significant town centre, seafront, transport, commercial and residential development.  

The County Council are making significant contributions to the project management of our key regeneration and infrastructure projects and are pump-priming investment to develop a new Worthing Town Centre Investment Prospectus. 

This prospectus will promote Worthing as a significant opportunity for investment from the private sector, in addition to other public sector sources, to help transform our long term ambitions into shorter-term delivery and implementation options.

The invitation to tender will be issued later this month with a proposed completion of prospectus by late September / October 2015.  

The prospectus will inform Investors that Worthing is an up and coming place where investors can get a low-risk, commercial return on their investment. It will be:

·  Encouraging investment in our seafront and realising its greater potential

·  A rethink and reshape of the high-street and retail quarter including its layout and personality for today’s modern cities

·  Looking at improvements and better links to rail stations

·  Reviewing ideas for pedestrianisation, cycle routes and innovative intra-town transport

·  Reviewing our car parking provision to serve a modern town centre

·  Looking at areas for new residential neighbourhoods;

·  Looking to develop well designed public realm and open spaces

·  Provide ultra-fast broadband connectivity and town-wide WiFi

·  Offering a unique and world-class cultural offer with creative open space and event areas

·  Reviewing further options for a co-located or franchised higher education campus

·  Offering mixed use office and employment spaces which would attract high growth entrepreneurs and wealth creators

·  Providing ideas for creative/mixed use spaces for social entrepreneurs and community groups

·  Encouraging ideas and investment in cutting-edge water-sport facilities. 

The Prospectus will be undertaken with a comprehensive business and stakeholder consultation and engagement programme which will be guided by the Head of Place & Investment at the Council.

Teville Gate (Worthing) new owners announced as Mosaic Global Investments Limited.
 
On Friday 5th June 2015, Mosaic Global Investments Limited successfully completed the purchase of the Teville Gate site in Worthing and in doing so heralded a key realisation of Adur & Worthing Councils' regeneration plans for the town. 
 
Jawad Sheikh, Chairman Mosaic Global Investments Limited adds "Teville Gate provides a fantastic opportunity for redevelopment and the ongoing regeneration of Worthing.  We are committed to this project and in delivering a world class provision for business and residents.  To enable this, Mosaic has appointed a large specialist team, with significant experience in urban regeneration, led by the award winning architects CZWG.
 
This team are confident they will be able to present a planning application to Adur and Worthing Council by the end of the year.  Prior to that, we look forward to meeting with the residents of Worthing, so we can fully understand their thoughts and ambitions for this site and what they would like to see delivered. One of our first jobs will be to schedule a public consultation exercise this autumn."
 
Jon Murch of Davies Murch (Acquisations agent) added "We are delighted that Mosaic Global Investments Limited have been successful in the acquisition of this important site as they have the drive, vision, determination and expertise to deliver something very special."
 
Daniel Humphreys, Leader Worthing Council  "I am really pleased that Teville Gate has finally been sold and we can now work closely with Mosaic Global Investments Limited to develop this site as quickly as possible.  As an important gateway into the town centre,  it is vital that it is redeveloped sympathetically, providing a mix of residential, leisure and commercial uses to enhance the approach into the town.  The fact that Worthing has started to attract this high calibre of interest and investment is very encouraging going forward." 

UK tourism in the South is on the up but companies need to get online

The latest Travel & Tourism Survey conducted by West Sussex and Gatwick-based chartered accountants and tax advisers, Carpenter Box, in conjunction with MHA, the UK-wide association of chartered accountants and business advisors, indicates that 26% of operators in the hotel and bed and breakfast sector are still unable to take online bookings.

This is despite the fact that 50% of respondents to the annual survey report a year-on-year increase in online bookings and the fact that there has been a 16% increase in the ability to take online bookings direct.

“This growth in direct transactions is good to see, especially as online booking agents have been increasingly dominating the UK hotel and bed and breakfast sector,” said Nathan Keeley, Head of the Tourism & Leisure sector group at Carpenter Box. “This trend should lead to a greater online presence and more competitive offerings.”

The survey results for 2015 for the South point strongly towards growing business confidence and are encouraging for the development of the hospitality industry. Indeed, 64% of respondents reported an increase in profits over the past 12 months, representing a rising trend in domestic trading conditions, with 59% saying that they expect to see an increase over the next 12 months. The coming holiday season will be viewed with much anticipation.

In line with other regions across the UK, one third (33%) of respondents to the survey in the South still employ workers on zero hours contracts, only slightly lower than the 37% recorded last year. The amount of zero hour contract staff who are working 21+ hours has halved since last year to 34%.

Nathan Keeley said: “These findings are still concerning and suggest that hospitality workers on zero hours contracts are suffering through reduced paid hours.”

The percentage of companies in the South who have green policies in place has dropped to 65%, down from 82% last year and over 41% remain unaware that tax reliefs are available for introduction of such policies.

This decrease in those with green policies suggests increased financial pressure and yet at the same time there appears to be a distinct lack of awareness of the tax reliefs available, which suggests that more publicity is needed to encourage eco-friendly investment.

A wider lack of investment reflects the position in the economy as a whole with continued difficulties in raising traditional bank finance, although there are some signs of this position easing.

Dragon Boat Race - Do you want to be part of a Chamber team?

Worthing and Adur Chamber of Commerce are considering entering a team in the Dragon Boat Race. If you are interested please email tracie.davey@worthing@adurchamber.co.uk

Full details can be found below about the race!

2015 is the 2nd year of Dragon Boat Racing at Shoreham RiverFest. Following on from last years success, we're doing it again. Teams representing businesses, clubs and societies from across Shoreham and Sussex will be taking part in the race to raise funds for their chosen charities, racing up and down the river at high tide, in 40 foot long Hong Kong Dragon Boats.

Dragon Boat Events will be hosting the race, from AOAC (Adur Outdoor Activities Centre), Brighton Road, Shoreham By Sea West Sussex BN43 5LT. James Parker from Suters Yard, is the lead on the event. Dragon Boat Events will be the operator of the event, all health & safety and event insurance lies with them.
Costs

Cost for entry £350 per team/boat (16/19 paddlers and 1 drummer) This works out at around £18/£25 each, if you are asking for your team members to contribute. The 'Helm' (the steerer) will be provided by the operator company.

A deposit of £150 will secure your team entry. Balance to be paid by end of June 2015.

For more details click here

River Fest 2015

You are invited to be part of this successful annual event by taking a stall or renting a pitch to sell or exhibit your wares in the River Fest Village on August Bank Holiday Weekend 29th to 31st August 2015.

The village will consist of traders and exhibitors of Food & Drink, Arts & Crafts, Lifestyle & Wellbeing, Antiques & Object d Art and of course leisure activities.

In addition to the Village market as part of the Shoreham River Fest there will be an arena with various displays and activities, live music and entertainment and other activities on the river inclufding Dragon Boat racing all offering a great weekend for all the family.

The Shoreham by Sea River Fest is about life on the river and how the river has shaped a town. The event combines history, education, celebration and participation about what it means to live and work Shoreham by Sea and on the River Adur.

Sponsorship Opportunities - contact Gill Dixon

Its the time of year when we are start excited about the 3rd River Fest, the annual
community based event which takes place over the August Bank Holiday weekend,
29 – 31 August 2015, and is centred round Shoreham and the River Adur.

Over the whole weekend, the Festival attracts mixed and family audiences of up to
15,000 people from right across the Sussex area and most events are free to attend.
However, we really need your nancial support in order to keep this Festival a free
community based event.
You can donate or become a sponsor and support the continuation of what is now
rmly established as an iconic local festival in the Sussex calendar.
If you are interested please feel free to contact me on 01273 453 585 or email me on
gilldixon80@hotmail.com for further information regarding sponsorship and benets
or to make a donation.
We thank you in advance for your support
With best wishes
Gill Dixon
01273 453 585
gilldixon80@hotmail.com