Paul Johnson - Follow the Money Book Launch!

Tackle the Issues*

Paul Johnson, Director for the Institute for Fiscal Studies, introduces his new book launch of “Follow The Money – How Much Does Britain Cost?” .

What is the truth about Britain’s finances? Join us at this important literary event, featuring Paul Johnson and Professor Sasha Roseneil.

Ropetackle Arts Centre is delighted to announce the visit on 24^th February of Paul Johnson, Director of the Institute of Fiscal Studies and one of the country’s leading economists, to mark the publication (on 23^rd February) of his book “Follow the Money” – his forensic examination of the way the state raises and spends £1 trillion of our money every year. 

The talk will be at the Shoreham Centre, Pond Road at 7.30pm.

Paul will show how bad politics has resulted in damaging policy decisions, why taxes are rising to unprecedented levels, and how we have neglected the young for too long.

He will also challenge us to recognise that there are no easy solutions and that we, the electorate, need to support politicians in making tough choices, and the trade-offs that are the inevitable, if rarely acknowledged, prerequisite for good policy-making.

Paul will be interviewed by Professor Sasha Roseneil, Vice-Chancellor of Sussex University. Before her Sussex appointment in August 2022, Professor Roseneil held posts as UCL’s first Pro-Provost for Equity and Inclusion and Executive Dean of the Faculty of Social and Historical Sciences, and Executive Dean of the Faculty of Social Sciences at the University of Essex.

Paul was brought up in Shoreham and attended King’s Manor School (now Shoreham Academy) and always draws a sell-out crowd at Ropetackle. The book, published by Abacus at Hatchett UK, will be in book shops from Saturday 25^th March: however our partner, City Books, will be selling copies on the night, which Paul will sign after the event.

What they are saying about “Follow the Money”:

Laura Kuenssberg

Read it, absorb it, and understand how the country works.

Robert Peston

This is an important book by the economist who has set the terms of so much political debate over the past decade. If you want to understand why crazy politics routinely trumps economic rationality in government choices, read this.

Polly Toynbee

Fire and passion, combined with the facts. Every politician should get a copy, as the tales of short-sighted, election-fixated, cowardly decision-making are so depressing. And your way forward looks so blindingly sensible.

*Tackle the Issues is a series of joint Ropetackle, Wordfest and Sussex University events addressing important issues of our time.

For further information and tickets - https://ropetacklecentre.co.uk/events/paul-johnson-follow-the-money/ or phone 01273 464440

Adur & Worthing Trust Creative Commissions 2023

Applications opened 24 January & close midnight 05 March 

Adur & Worthing Trust hope to support at least ten creative projects in Adur & Worthing in 2023. To be able to apply you must be based in Adur or Worthing and your creative project must be shared with the public in some way.

2022 saw a varied selection of funded projects ranging from sheep shearing to drag queens. Sea swimmers to giant kaleidoscopes. As usual, the funded projects showcased the diversity, talent & ingenuity of creatives based in Adur & Worthing. Take a look at last years funded projects and visit the exhibitions to get inspired

Find out more and how to apply here

Colonnade House - February Events!

We began 2023 with an exciting roster of talks, workshops and the launch of our Creative Commissions (more information about those at the bottom of the newsletter). This February we return, to showcase a wonderful selection of artists and creative charities who are bringing poignant, fun and captivating exhibitions to Worthing

7th - 18th February Ukranian Renaissance. Unbowed
The Ukrainian refugees’ dozen will present their culture with handmade works inspired by the unbowed spirit they have despite the tragic obstacles they live through.
Workshops, lectures, and documentaries will help you get a sense of their unconquerable nature: a highlight for Ukrainian art & culture.
https://colonnadehouse.co.uk/event/ukrainian-renaissance-unbowed

21st - 15th February Superstar Arts: Portraits, Prints & More
For this 2023 exhibition, Superstar Arts are focusing on screen prints and portraits, designed, printed, painted and collaged by the Superstar artists with support from arts and craft practitioners.
https://colonnadehouse.co.uk/event/superstar-arts-portraits-prints-more

28th February - 5th March Natalia Samarina: My Art

Natalia is an aspiring artist who started her journey a couple of years ago. After recently moving to Sussex from Moscow, the beauty of the coast, hills and surrounding nature ignited her imagination. In her works she uses various oil painting techniques inspired by the beauty of nature and the works of Monet, Aivazovsky, Cezanne, Renoir, Pissarro and Shishkin. In her words, "everything that creates harmony and light captivates me".

Natalia Samarina: My Art - Colonnade House

Andy's Angels host a Pamper and Prosecco Evening!

Come along to The Rooms Worthing in the Guildbourne Centre and enjoy an evening of relaxing mini treatments , canapes and Prosecco, raising funds for Andy’s Angels Grief Play Café Andy’s Angels (andysangels.org.uk)

This event is open to everyone over the age of 18 years, ticket price includes your choice of mini treatment (which you select when you buy your ticket), a glass of Prosecco and delicious canapes.

You can choose from:

Head, neck, shoulder massage – 15 minutes
Reflexology – 15 minutes

Don’t forget your pennies! We will be holding a raffle on the night with some amazing prizes - last year we raised just over £200 just on the raffle!

https://www.tickettailor.com/events/andysangels/836447

Steps to Innovation - FREE online workshops!

This series of five FREE online workshops focuses on successfully realizing innovation in business. These workshops aim to develop innovation knowledge and skills to progress ideas to commercial value, delivered by university and guest innovation experts.

The sessions are interactive, combining current innovation theory with practical approaches and real-life stories. The series is suitable for business owners of Small and Medium-sized businesses and staff responsible for product/service development or operational improvement.

The series, called STEPS, builds towards the successful launch of an innovation idea and covers five stages: SCOPE, TEST, EVALUATION, PILOT, and SCALE UP. Each session is designed to build upon the previous, like a story.
The first session on 28th February, SCOPE, will cover identifying ideas for innovation and developing initial concepts, the core concepts, different types of innovation, and the capability of a business to innovate.

The second session on 7th March, TEST, will introduce key approaches to testing and proving the worth of an innovation idea. It will explore how to get a proof of concept, validate the idea, and test for strengths and weaknesses.

The third workshop on 14th March, will evaluate the innovation idea through market analysis and competitor research.

The fourth session on 21st March, will cover piloting and trials, and the fifth workshop on 28th March will focus on scaling up the innovation and making decisions on launch.

Worthing High School - The Big Interview!

As a school Worthing High School is keen to be very pro-active with face-to-face events involving local businesses as these are a vital part of our student’s ongoing development and character building, particularly in preparation for their next steps as they progress onto further education and future employment.

One of the main events in the school calendar is our very successful annual ‘Big Interview’ event and this is being held on Wednesday 8^th February at Worthing High School. Timings for this are from 9am-1.30pm.

We are pro-actively looking for volunteers to be interviewers and was hoping that this may be something that you would be kind enough to consider supporting and being involved in?

The ‘Big Interview’ enables each of our Year 10 students to receive a 10-minute interview from one of the local volunteer business partners on the day. The interview is not planned for a specific job, but to prepare students for what general questions they may be presented with in either future job interviews or at upcoming college and/or further education interviews.

Volunteers do not have to have experience of holding interviews as this will be more of a two-way conversation approach and that this exercise will provide students with useful feedback on body language, question & answer techniques as well as giving them direct experience of a 1:1 interview with a person from outside of the school environment. We will of course provide further information both prior to and on the day to all businesses kind enough to support.

We will be providing light refreshments for all our willing interviewers and would really appreciate your invaluable support for one of Worthing High School’s future pathways linked activities.

We can never have too many people for an event such as this and if you have any colleagues within your business or other contacts that would also be prepared to attend, please can you let me know and I will be more than happy to add them to the list of volunteers.

The event always provides our business partners with the opportunity to network with other local companies as well as within the school.

If you are able to commit some of your valuable time to this event or you have any questions please email MFisher@worthinghigh.net

Mayo Wynne Baxter achieves B-Corp status

Full-service law firm Mayo Wynne Baxter – as part of legal and professional services group Ampa – has been awarded B-Corporation certification.

Organisations with certified B-Corporation status are legally required to consider the impact of business decisions on their people, customers, suppliers, communities and the environment, ensuring a balance between purpose, people and profit.  

The benchmarks in order to achieve accreditation are incredibly high and the auditing process is rigorous, with non-profit B-Lab independently scoring companies across governance, workers, community, environment and customers to determine the business’ social and environmental performance.   

Dean Orgill, chief executive partner at Mayo Wynne Baxter, said: “This is a key milestone in our ambition to change the world of business for good. We believe we can be both purposeful and profitable and our B-Corporation values are embedded in our business strategy and fully supported from the top-down. We also take great pride in helping our clients achieve their sustainability goals.  

“As we continue to grow our group, we are looking for likeminded professional services brands to join Mayo Wynne Baxter and the wider Ampa group, whether they have B-Corporation status or not, and we can support them in their growth strategy as well as better business practices to people and the planet.” 

As well as South East-based Mayo Wynne Baxter, Ampa also includes brands Shakespeare Martineau, Lime Solicitors, Marrons, CSS Assure and Corclaim, employing more than 1,300 people over 18 hubs across the UK and is the largest legal and professional services group to have achieved B-Corporation accreditation.

Helen Hay, group head of culture and sustainability at Ampa, said: “This is a huge achievement for us and demonstrates our commitment as a group to use business as a force for good for our people, planet, communities and clients. 

“We’re really proud to have achieved our highest score for how we treat our people, including our approach to pay and reward, our wellbeing initiatives and benefits and embedding professional development support and opportunities across the group of brands. 

“We keep ourselves accountable through our responsible business ambitions that are constantly tracked and analysed, pushing us to do better and achieve more. So far, we have achieved a number of our ambitions across diversity and inclusion, reducing landfill waste and carbon emissions, as well as supporting young people in our local communities.” 

Among other ambitions, in 2022 the group increased racial diversity at a membership (equity stakeholder) level by more than 3%, against a target of 2%, supported more than 400 young people through a variety of career development events, and significantly reduced its paper use.  

George Square Financial Management in conjunction with Albemarle Street Partners.

Our latest client report for the start of 2023

I believe we all are pleased to see the back of 2022. Throughout last year inflation surged, and Central Banks responded with rapid increases in interest rates. This resulted in the lowest portfolio returns since the global financial crisis in 2009.

So, is it right to welcome 2023 by asking, when can markets be expected to begin their recovery? More importantly we must ask; how can we ensure that your portfolio properly participates in that recovery?

Good news did start to emerge in the final months of 2022 as co-ordinated monetary tightening and falling consumer demand caused a rapid deceleration in inflation. US inflation (highlighted below) appears to have peaked, and we should see a meaningful drop in reported inflation across the developed world in the coming months.

Source – Bloomberg 02.2017 to 11.2022

Energy, food, and goods prices have started to decline month on month and service inflation has started to moderate as well.

At times like this it becomes necessary to claim that inflation will take a very long-time to fall. Many people like to play it safe and sound as bearish as possible during a crisis for fear that optimism makes them appear naïve. However, the falling path of inflation has now been established in the United States for six months and there is evidence that in the Eurozone it is falling sooner than many anticipated.

The case for a faster decline in inflation is gaining traction as goods and energy prices have started to fall sharply. UK and European inflation figures are sensitive to the price of natural gas (shown below) which has fallen by 50 per cent in the last month alone. Crude oil prices are in line with 2021 levels and food prices are likely to face pressure from increased production in 2023.

Source – Bloomberg 12.2021 to 01.2023

Source – Bloomberg 01.2022 to 01.2023

The peak in US bond yields has caused the US dollar to fall, after rallying for much of 2022. The rally in the Euro versus the dollar (above) is mirrored by the move in sterling, the yen and gold (also above). The selloff in the dollar heading into a global recession is strange but not unusual. Crowded positioning in haven assets can unwind during risk rallies and it is important to recognise the diversification benefits the holdings provide. Just like bonds, the dollar allocations have a role to play in long term asset allocation.

Financial conditions throughout the developed world have tightened materially. The implication of this will become more apparent in 2023. House prices are falling across the developed world and manufacturers have started to curtail production to match falling orders. Corporate earnings have started to decline and layoffs in a variety of sectors are making headlines.

We anticipate a slowdown in global economic activity in the first half of 2023, before a recovery late in the year. 2022 earnings have surprised positively as companies in a variety of sectors have delivered better revenues through the higher prices. While corporate earnings will come under pressure, we expect earnings growth to resume in the second half of 2023. Small-cap equities and value-tilted strategies could suffer severe drawdowns during the recession, and we have taken steps to mitigate this risk.

Our investment approach is data driven, forward looking, and focused on the long-term. This allows us to look through the here and now and focus on opportunities as they become available.

The value of investments can go down and you may get back less than invested. This material may include charts displaying financial instruments' past performance as well as estimates and forecasts. Past performance does not predict future returns. © 2023 George Square Financial Management Ltd. All Rights Reserved. The content of this material is a marketing communication, and not independent investment research. As such, the legal and regulatory requirements in relation to independent investment research do not apply to this material and it is not subject to any prohibition on dealing ahead of its dissemination. The material is for general information purposes only (whether or not it states any opinions). It does not consider your personal circumstances or objectives. Nothing in this material is (or should be considered to be) legal, financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Albemarle Street Partners or George Square Financial Management Ltd that any particular investment, security, transaction, or investment strategy is suitable for any specific person. Although the information set out in this marketing communication is obtained from sources believed to be reliable, Albemarle Street Partners or George Square Financial Management Ltd. makes no guarantee as to its accuracy or completeness. Neither Albemarle Street Partners or George Square Financial Management Ltd. shall be responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein. Albemarle Street Partners is a trading name of Atlantic House Fund Management LLP (AHI). Issued by AHI who is authorised and regulated by the Financial Conduct Authority. Registered Office: 135 Bishopsgate, 8th Floor, London, EC2M 3TP. George Square Financial Management Ltd. is authorised and regulated by the Financial Conduct Authority

Amazing news for the 'Fund our Food Banks' crowd funder! 

Thanks to Aviva and Co-op, for all pledges up to £250, every £1 donated will now be tripled.  This is extraordinary support and provides a short window of opportunity to secure vital extra funds. A £20 donation now means £60 to our local food banks.

To date, an incredible £13k has been raised through the support of local individuals and businesses. The crowdfunder is expected to come to an end on 26 Jan.

Where you can, please share this through your networks and promote on your socials. 

This is a local project supporting local residents, thank you for your help in sharing this important message. 

https://www.crowdfunder.co.uk/p/fund-our-foodbanks

Carpenter Box appoints new Corporate Finance Director

Award-winning financial services firm Carpenter Box, with offices in Worthing and wider Sussex, has appointed a new Corporate Finance Director.

Alistair Aird, who joined Carpenter Box’s growing team in late 2022, will focus on assisting SME business owners and managers with achieving their strategic goals, including expansion or exit plans. 

His expertise includes mergers and acquisitions, management buy-outs and buy-ins, disposals, valuations, as well as debt and equity raising.

For over 15 years, Alistair worked in Big Four and Top Ten accountancy practices, where he provided corporate finance lead advisory services across the South East, typically handling transactions worth up to £25 million in value. 

More recently, he spent eight years as a member of the business development, then divisional leadership team, in the corporate arm of a prominent high street bank, where he specialised in businesses with turnovers up to £100m.

Partner and Head of the Gatwick office at Carpenter Box, Rob Dowling, said, “We’re really pleased to have Alistair on board to help us boost our lead advisory services across the South East.

“It’s important that business owners have someone that they can trust to turn to, and Alistair’s first-class experience speaks for itself.”

Alistair says, “I’m delighted to be part of the team and it’s an exciting time to join. Carpenter Box has an impressive reputation across the region and a portfolio of clients which is growing rapidly.

“Our aim is to help them achieve their ambitions and I see it as my duty to make sure that this process runs as smoothly as possible.”

With offices in Worthing, Gatwick, Brighton, Chichester and London, Carpenter Box delivers a comprehensive range of financial services to companies and private clients across the South East and beyond.

  For more information about Carpenter Box, please   visit: www.carpenterbox.com