Member Blog

Are you struggling with your mental health or do you know somebody who is?

In Norwich, the ST MARTINS HOUSING TRUST provides a place for people in mental health crisis to gain help and support. Known as Under 1’s Wing, it provides an alternative service to A&E or mainstream mental health providers.

People who visit the service come from all walks of life.

They are often the strong ones in their families – the people that everyone else relies upon. But one day these people might find themselves in an emotional space where they simply can’t cope.

Under 1’s Wing provides a safe place for people to go, to speak with someone about what’s going on or simply just to sit and have some quiet time. The service is run by a group of extraordinary people and there is also a mental health nurse on site.

So, please be aware that this service exists and pass it on to anyone who might need it:

https://stmartinshousing.org.uk/how-we-help/our-services/independence/mental-health-crisis-support/

Chatsbrook help local businesses thrive!

A partnership consolidated by our shared ethos of providing an excellent thorough, effective and transparent service…how our relationship with Baggleys Machinery is changing the game for many small business owners!

Plant machinery, such as Mowers and Chippers, are often vital to the productivity of farmers. It is of no secret that investing in contemporary and reliable equipment can improve the operational growth of a business. However, for small sized businesses, the large upfront costs can often impede on working capital- which could prove devastating if a business has to overcome a sudden, unexpected cost.

For the past two and a half years, Chatsbook has worked closely with Baggleys Machinery. Baggleys Machinery is a local business that specialises in agricultural equipment and the servicing of them. Since the start of their trading in 2002, Baggleys has been making waves in the agricultural industry. Proving that they are here to stay, they hold two franchises, one of which is the Norfolk and Suffolk franchise for Solis tractors- a brand very popular with small farming businesses!

From the offset, Chatsbrook sought to understand Baggleys requirements in order to excel their expectations. Throughout our relationship, we have maintained and expanded our partnership and have even succeeded in growing Baggleys customer base. With most agricultural equipment starting at £10,000 + VAT, our flexible, tailor-made finance options have made it possible for small to medium-sized businesses to invest in agricultural machinery. Owner of Baggleys Machinery, Solly Mansfield, further articulated “since working with Chatsbrook, we have found that we are selling more of our high-value items as the finance arrangements have made £20,000+ tractors more obtainable for small business owners.”

Without the option of finance, businesses would have to sacrifice cash flow and, in certain cases, even productivity. Furthermore, within the agricultural industry, we are seeing that businesses are increasingly choosing to diversify in order to expand their income revenues. Diversification can often be a laborious and expensive process, which is why the conservation of cash flow is integral to ambitious farmers that wish to invest in multiple areas of their business.

Whilst supporting farmers with the financial means has proved advantageous to Baggleys, another reason our relationship has continued to thrive is due to the mutual desire to provide a transparent, efficient and dependable service. The benefit of providing excellent customer service is two-fold. Not only does an excelling customer experience help to satisfy customer requirements and expectations, but it also helps to create loyal customers- subsequently leading to repeated custom for Baggleys. In comparison to other finance brokers on the market, Chatsbrook offers a completely different experience. Instead of trying to mould clients into fitting a criterion, we establish individual circumstances and offer bespoke finance agreements to personally suit businesses- which is why our clients enjoy their customer experience with us.

Solly explains “I understand the integrity in which Adrian conducts business. It is one of the reasons I trust him completely with my clients. After machinery has been delivered to them [customers], I conduct a routine check to see if the equipment meets their expectations and I often enquire as to how they have found their experience with Chatsbrook. Adrian stipulates to the client exactly what the finance arrangement is-down to its fine detail! Additionally, I have found that Adrian usually gets back to the client within hours of an initial enquiry. They are always completely satisfied with the service they have received.”

Our industry experts have helped a growing proportion of farmers across the UK. For a working partnership that exceeds all expectations, contact Baggleys Machinery.

There are many benefits to running a business.

You might think that running a business enables you to have more money, more freedom and the opportunity to be more successful.

So why is it some businesses succeed and others fail? What are the reasons why so many businesses fail? Well, in this video, I am going to give you the things I wish I knew when I started my business. And these are the things to know before you start a business of your own.

Because running a business is hard. There will be times when you don’t have any money, there will be times your business takes up more time than you want it to and there will be many, many times in which you fail.

As a side note, I would recommend everybody reads Michael Gerber’s ‘The E-Myth Revisited’. This should be default reading for all prospective entrepreneurs and reveals an important mindset you need to harness in order to be successful. Make sure you read this book before you do anything.

And if you’re thinking of taking the plunge into self-employment, watch this video first and see if it’s what you really want to do. If after this, you still want to set up a small business, I wish you the very best of luck. Keep going, keep focused and pursue your why.

James

Knowing your Customer – Six Top Tips

1. Check out the exact name and legal status of the business you’re supplying. If it’s a sole trader or partnership, the proprietor or partners are personally liable so make sure you have their full details. Businesses can disappear much more quickly and easily than individuals!

For limited companies you can obtain information and documents at :https://www.gov.uk/get-information-about-a-company

2. Check if the business is a signatory to the Prompt Payment Code. If so, they have committed to the Code principles and, if they don’t pay promptly, you can raise a challenge and the Chartered Institute of Credit Management will intervene on your behalf.

Their Prompt Payment Code entry may also give information about how they pay and what you need to do to ensure you are paid promptly.

If it’s a large company (as defined by the Companies Act) it has to report its payment performance on the government ‘Business payment practices and performance’ website: https://www.gov.uk/check-when-businesses-pay-invoices

3. Don’t be afraid to push for all the information you need – if you can’t get it now, it will be far more difficult later.

4. Watch out for cultivated ‘friendly’ references that the potential customer gives you. Referees that you choose are far more effective.

5. Invest in credit reference information – it could save you a bad debt.

6. Set some rules that you (and all your employees) always follow and don’t be tempted to break them, even if you’re put under pressure to supply urgently.

CAN YOU ANSWER YES TO ALL THESE QUESTIONS?

•  Do you know the exact name and trading style of the business? The people or company that own the business, and are liable for any debts, may not be the same as the name under which the business trades. Types of business include, amongst others, limited companies, partnerships and sole proprietors.
•  If it’s not a limited company do you know the name (s) and personal address (es) of the proprietor or partners
•  Have you seen headed paper or documentation that verifies this information?
•  Have you used a credit reference agency to check their details and credit status?
•  Does the information support the amount of credit they’ll need? There are many sources of information, the most common and readily available being credit agency reports and references.
•  Have you talked to other suppliers of the business to obtain references?
• Do the details on the order match those you were given earlier? If they were previously dealing with your competitor, are you happy about their reasons for coming to you?

KLM UK Engineering – Merry Christmas!

Norfolk’s only working watermill has been given a new lease of life, and is really on a roll, thanks to the specialist help of Credo Asset Finance.

Credo played a major role in making the dream of the current owners come true by helping them finance the restoration and install a roller mill and flour separator. Now, flour production has doubled, the range of flours in the shop has expanded, and the owners are working with local farmers to get Norfolk its own oat de-hulling machine to reduce food miles.

The current Letheringsett Watermill was built in red brick with a black pantile roof in 1802.

There had been other mills, going back at least to the Domesday Book of 1086, on the River Glaven site but all burned down.

Although the mill was part of the Letheringsett estate, its grandeur meant that it was regarded as a separate property.

Richard Rouse built the present mill so large so it could house four sets of mill stones. One day it is hoped the mill will house four sets of stones so that it can run at full capacity again.

Michael Thurlow came across the mill in 1987 when delivering animal feed there as, at the time, it was used to store animal feed.

He had served 20 years in the Royal Navy before being discharged for medical reasons after metal poles fell on his legs while at sea. It had been thought he would never walk again but he was nursed back to health by Marion, who became his wife.

They moved to Winterton in Norfolk and, while driving delivery lorries, Michael came across the mill. He was talking with the then owner, the late Mrs Beryl Cozens-Hardy, who said “I just need someone stupid enough to take this mill on and restore it to its former glory”.

Michael, having travelled the world, had seen many countries restoring and maintaining their heritage but, on returning to England, felt part of his heritage had been left to ruin.

He wanted to help keep his heritage alive and took on the task of lovingly restoring Norfolk’s only working watermill. This labour of love brought Marion and Michael to Thornage, a small village a mile from Letheringsett.

The restoration began in 1987 with the mill undergoing a full refurb and brought back to life producing stoneground flours to be supplied to local bakeries and farm shops.

Marion and Michael adopted their two children, William and Michelle, in 1991 and they grew up learning about the mill and enjoying its beauty.

Unfortunately, Michael passed away unexpectedly six years ago leaving the mill in the capable hands of Marion and Michelle. They ran the business together for two years before Marion lost a four-year battle to cancer.

Michelle still runs the mill which is now expanding, bringing it forward and restoring further machinery to ensure it is self-sustaining. Both sets of mill stones are in regular use and the mill can now make its own traditionally separated white flour and roll its own oats and wheat flakes.

Credo Asset Finance had a key role in the mill’s makeover and modernisation by helping it to finance the restoration and installation of the Bamford roller mill and flour separator.

Due to the nature of the specialist equipment needed, it was very difficult for Michelle to get the finance she required. After searching online she was delighted to hear that Credo was able to help.

“The whole process of setting up the finance was so easy. Donna at Credo, who looked after our bespoke finance needs, was so approachable and friendly. She attended for a site visit to see the machinery in action and the whole process was set up and ready to go within a week – no difficult, lengthy paperwork, straightforward terms and conditions and a friendly face to speak with in person rather than just on the phone”.

Following the installation, the mill’s production of flour has doubled, the range of flours within the shop has expanded and the owners are currently working with local farmers to get Norfolk its own oat de-hulling machine so they can the roll Norfolk oats, making the carbon footprint less than 10 miles.

Find out more about this historic and beautiful Watermill by visiting the website at www.letheringsettwatermill.co.uk

Does convenience always come with a price?

When thinking about investing in vehicles, it can be difficult to know whether you should branch out to a broker or follow the more traditional route of going to a franchised dealership or an independent used car retailer.

Individuals often prefer to use dealerships for convenience. And why wouldn’t you? Dealerships appear to be a reasonable one-stop-shop. For example, you can source, test drive, order and obtain finance all from one place! However, there is an assumption that going direct to a dealership will mean that you will receive the most competitive deal. This isn’t always the case. Adrian, owner of Chatsbrook reports, “There is often a lack of diversity within dealerships with limited types of finance agreements on offer-meaning that prospective clients may be unsure as to whether they have obtained a good product or not. Due to the restricted options, products may not suit all clients. For example, one type of agreement may cater to those that wish to own a vehicle but not for those that wish to use the car and return it at the end of an agreement.”

Unlike traditional dealerships, Chatsbrook as a broker work with a diverse panel of lenders! This means we approach lending institutions on your behalf and receive the most competitive deal on the marketplace. Our arrangements are completely tailored to your specifications. You have the power to decide; the amount of deposit, term length and your monthly payment preferences. If that wasn’t enough to sway you to use a broker, Chatsbrook always looks into which type of arrangement would benefit you more- whether that be Contract Hire, PCP or HP (to name a few). You can be confident that Chatsbrook will offer a perfectly constructed agreement that suits your individual circumstances.

Wait, there are more benefits!

Another advantage of using Chatsbrook is our impartiality.  “As an independent company, Chatsbrook ultimately serve our clients. We are not governed by sales targets; our priority is to ensure product suitability. Our neutral position means that we are able to offer clients advice in accordance to our expert opinion. Because we operate using 100% transparency, if we find out that a dealership is offering the best finance arrangement then we share this information with our clients- we always have their best interests at heart.” (Simon Meredith, Business Development Manager of Chatsbrook)

Furthermore, if you have a limited credit history or if you believe that you have a lower-than-average credit rating we may still be able to source an agreement for you! Although we cannot guarantee the outcome, due to our strong relationships with our panel of lenders, we will certainly put all our efforts into locating one for you AND we may even be able to negotiate a better deal.

As aforementioned, product suitability is so important to us: ” Buying a car is often the second biggest purchase that someone will make during their life- second only to a house! There is a lack of knowledge surrounding the funding of cars. There is an abundance of information on mortgage advisors yet less information on the variety of vehicle finance products, institutions/brokers. As we work in a similar vein to mortgage advisors, it would be beneficial for individuals to know about the benefits of a broker. Often individuals will find better deals on the same vehicle if they opt to use a finance broker such as Chatsbrook!” (Adrian Brooks).

If you know the vehicle that you would like to obtain or if you are still deciding, talk to our SAF accredited team at the office on 01603 733500 or info@chatsbrook.co.uk   Our clients are always delighted by how quick and simple our process is!

For a broker that is on your side, choose Chatsbrook.

The UK jobs market for specialist positions remained extremely competitive and fast-moving throughout 2019. Research from the British Chamber of Commerce revealed that in the first quarter of the year, over half of UK businesses (53%) had intended to recruit but nearly three-quarters (73%) then struggled to find the right people. It shared similar findings in quarter three, with three quarters of UK businesses still reporting difficulties finding the talent and skills they needed.

At the moment, this candidate-driven market looks set to continue into 2020. So what are the strongest weapons employers can use to boost their armoury and win the war for talent?

A competitive offering

One of the immediate things people may think of is salary. If you pay the most, will you come out as the winners? Our findings and day-to-day experience show this isn’t necessarily the case. Employers do need to be prepared to offer a fair and competitive salary, and they can use our Compare my Salary tool to benchmark what they are offering against similar roles in the eastern region. However, a happy and fulfilling place to work relies on much more than just how much people are paid. This is good news for smaller employers, charities and not-for-profit organisations in particular. There are still many ways in which they can compete against the finances of larger businesses. For example, benefit packages show an investment in people and can demonstrate the company’s values and culture. From a financial perspective, they can save employees significant amounts of money and provide financial security and reassurance in times of distress, such as if they were to become too ill to work. Wellbeing benefits have the combined advantage of helping people to stay fit and healthy while also offering real support if ever needed, like fast access to medical services or counselling. Plus lifestyle benefits including agile working, opportunities to reduce commuting times or additional annual leave, can all help people to balance their work and home life. All of these can be significant points of difference when high-calibre employees are choosing between two possible job offers. 

Quick and positive recruitment experiences

Good people are being snapped up extremely quickly, so it tends to be businesses which can act fast that come out on top. Does this mean they are putting themselves at risk of bad hiring decisions by rushing? When advising our clients on the need for speed we still reinforce the fact that there should be a robust process in place. What we are emphasising is the necessity to prioritise interviews and decision making, and to remove any unnecessary complications. Otherwise there is a real risk that a preferred candidate will already have accepted another job. Plus, more so than ever in a candidate short market, recruitment becomes a two way process. The best people will have the confidence to walk away from an organisation if they are not impressed. Employers may not have control over how many other interviews a good candidate is going for, but they do have the chance to check that they are delivering the best possible experience at every stage and are not missing any opportunities to highlight why people should want to work for their organisation.

Employer brand and strong recruitment marketing

We see every day how businesses that haven’t genuinely invested in their employer brand find it harder to attract the best people. This is reinforced by a recent LinkedIn survey which revealed that 75% of applicants now consider an employer’s brand before even applying for a job. Through our Best Employers Initiative and sponsorship of Best Employer awards, it has been fantastic to see so many organisations in our region genuinely investing in creating a strong employer brand. It is clear that business leaders are recognising the importance of this when it comes to competing for, and retaining, high-calibre employees. Those who are passionate about developing their organisation’s workplace environment, engagement levels and overall employer brand can register to join us at the launch event of Best Employers Eastern Region 2020. This will once again be a great opportunity to come together with like-minded business leaders and to share expert advice and best practice examples. Once businesses have a strong employer brand in place, they can go on to adopt a marketing approach to recruitment. Every touchpoint a prospective employee may engage with is a chance to actively promote the positives of working for your company and to share more about your culture and employee value proposition.

An open mind

With candidates in high demand, it can sometimes be almost impossible to find someone who ticks every single box. Does that mean employers should put recruitment on hold and keep waiting for the ‘perfect’ candidate? We are working with clients to review what really is essential criteria and what is just desirable. After all, what makes a really good, talented employee? In most cases it is about the right attitude. If you can find someone who is the right fit for your organisation, who shares your values, is engaged with your organisation’s purpose and who will thrive in your workplace culture, you are likely to have found a high-calibre recruit. Additional skills and experience can be learnt on the job, roles can be adapted and different working patterns can be offered to suit someone’s situation. Employers who are open minded to the idea of making a role work for the right person or investing in training and developing people to meet all the criteria have the opportunity to create their own top talent. In return, they are more likely to be rewarded with engaged, loyal employees who want to stay and progress with the business. Considering that retaining high calibre employees is currently just as much of a challenge as recruiting them, the long-term benefits should not be underestimated.  

Seek expert support

When businesses are trying to hire specialist positions in a tough recruitment market, our consultants can really add value and make a difference. Our specialist sector knowledge is the primary reason why companies choose to work with us. As expert consultants in their different disciplines, our team invests time in developing and maintaining a strong network of contacts. This dedicated focus connects us to the best people and enables us to source high-quality and ‘hard to find’ candidates.

If you would like support in finding the very best people and reviewing your recruitment processes and packages in 2020, contact us for a chat.

What Is An Annual Plan

Quarter four is a great time to reflect and celebrate our successes in the past year. I am sure, no matter what the climate has been, there will be something you and your business should be proud of over the previous three quarters. Of course, in business, nothing ever stays the same and now we must look to the future. What is the next success, the next improvement project, the next big win. Ultimately, what is the plan. We can outline this with, you guessed it, an annual plan.

An annual plan takes into consideration all of these questions and pulls it together into next years strategy document. It will generally include:

• This years financials, outlooks to year end and bridging financials to the end of next year.
• Details around these bridging financials and the action plan to get there, with a sales focus.
• Marketing, Product and People strategy for the next year.
• Major projects expected within the business.

This is all great information, but in my opinion, the real key to a truly successful annual plan document is how many people read it,  add to it, discuss it and believe in it. Here’s why.

Setting The Vision

The job of any great leader is, at its core, very simple. It is to ensure the team around them have the tools and focus to deliver the next business success. A great leader facilitates progress. Correct? That focus comes from defining where we are today (financials for the end of the year, structure etc.) where we want to get to tomorrow (next year end financials, major project results etc.) and how we are going to get there – this is the where an annual plan comes into its own.

An annual plan shouldn’t be a document produced solely for the management team to refer to. It should be a living document that employees can use to understand and see how they are needed to deliver these next steps.

If we make our teams feel part of the future and that their involvement is needed, we create a sense of belonging and obligation to delivering these results.

The Annual Plan is created to set the vision, the targets and outline the vehicles for delivering the next phase of business iteration. It is a living, breathing document that should be understood, embraced and discussed by all members of the business. Areas We Will Focus On

If you are looking for a post that outlines, “what to include in a strategy planning document” – this mini series isn’t for you. You can check out a list of items to include in a strategy document from Forbes. Whilst undoubtedly interesting and certainly useful, I personally don’t agree that every element needs to be in every strategy document. After all, we need to articulate this vision across all levels within our business. As always, keeping complex ideas as simple and concise as possible is a winner here. We can save the trudging strategy speak and executables for each individual project, if we really must have them.

In this series, the focus is on how to make this document accessible and relatable. It will cover:

• Finances – keeping the numbers simple and the bridges crossable. 
• Creating Buy-In – opening up the planning process for all to take part (Part 2)
• Organisational Alignment – delivering an annual plan and reviewing it in an agile manner. (Part 2)

If You Only Takeaway One Thing

If your annual plan has been a secret of the boardroom, compiled in darkened rooms alongside closed door conversations, then it probably hasn’t landed well. Creating a disconnect between certain levels of the business that can manifest in micromanagement of projects and individuals.

Of course, some conversations may need to be had and certain elements omitted, but by and large, an annual plan should be something celebrated and delivered to your wider teams. Preferably, including them in the preparation.

Annual Plan Finances Keeping The Numbers Simple

If you want to lose a room, really quickly. I have a way to do it. Without bringing your team on the journey of understanding conversion costs, material margins, return on sales, start talking about these numbers. It will work like a charm. Why you would want to do that though?

In our last post, we talked about how making the annual plan a living and interactive document yields tangible results. In this post, we will talk about making the financial element of the annual plan accessible and informative. Keeping team members on board, but also delivering value.

Work Behind The Scenes

Of course there will be a huge amount of financial work behind the scenes. After all, bridging financials should be the very basis of target setting – we don’t necessarily have to send the entire bridging pack through to every member of the team, nor explicitly detail individual account movements through phasing changes and increases. Each action within the annual plan should have a financial ramification, be it negative due to it being a medium term investment, or positive as the revenue lands this year. Whilst financial diligence is a foundational key to excellent annual planning, the key to a good annual plan is delivering it in a worthwhile manner.

Keeping Delivery Simple

In order to keep entire teams, many of whom are not financial experts, engaged with finances is no easy task. So now your bridging financials are done. All areas of the business is rolled up and you have signed off on the annual plan. It is time to deconstruct the component elements and make them directional and understandable for the rest of your teams.

Here are some guiding principles for delivering that detail.

Keep it to the headline

It’s really easy to get bogged down into the numbers and phasing and profitability, but keep it to a headline. If an account has a new product line, spell out what the revenue growth is over the year. It really can be as simple as, “We are bringing in product X to support customer Y. This is really important to us as a team because over the year we are expecting £XYZ revenue growth from this product into this customer, allowing us to ABC. You can support in ensuring we deliver this by ABC”

In this example, what we have done is kept the numbers simple, relayed what the target is, moved to explain why it is important and then dissolved it down to how an individual is part of this success. The financials are there, and it is accessible on a granular level.

Don’t shy away from more complex theory, just explain it.

If you are on an efficiency drive, or a major project will increase profitability, don’t shy away from the theory. You can include it, but keep it relevant. If for example you are changing supplier of packaging, explain the theory of it.

“Our current supplier costs mean that our variable costs, a cost associated with each additional sale, for packaging, are at 8% of the total sale. If we can reduce this down to 6%, which we think the new supplier can do, that means we have 2% extra profit from each additional sale. That 2% means we can reinvest in XYZ. We need your support to deliver this cost saving, as we know switching suppliers will, in the short term be a change of process and relationships”

Roll it up.

At the end, roll it all up and explain the direction and reiterate how every team member can support. “Over the next year, we are looking to increase our revenue through the plans outlined by £XYZ, that means we will deliver £ABC more profit. We need your support in the following areas… so we can all deliver….”

Rolling everything up is a great way of bringing the entire team together, but also creating empathy between departments of their goals too. Creating a focus every team member can be a part of.

Until Part 2

We hope you enjoyed part one of this blog – stay tuned for part two where we discuss creating buy-in and organisational alignment, where we turn the annual plan from a strategic document, into the reference document for teams that truly understand and can articulate their future.

This blog post was originally published on the Akcela – Management Consultants Norfolk and Cambridgeshire website.

Growing a business seems easier than ever in the age of the internet. However, now that even small business models have the tools and resources to reach a global audience, that doesn’t mean that there aren’t challenges. Overseas expansion can be very appealing for a variety of reasons, but between getting a firm footing in a new location and ensuring that you are compliant with the local laws of your new market can be increasingly complicated. If you are thinking of leveraging your brand as an international concern, then here are some of the key factors that you are going to need to pay attention to.

Cultural Differences and Language Complications

Different populations have different needs and different goals. That means being aware of how your product or service is going to be received in the countries that you plan to expand into. As well as the cultural differences regarding your brand, you will also have to learn how individuals in those countries work. Remember to address:

• Personal space differences
• Cultural context (particularly important for marketing purposes)
• Business relationships and cues
• Communication

There is an etiquette change and language barrier to address if you want the international expansion to be more successful.

Legal Compliance and Issues with Regulation

All countries will have their own set of laws and regulations that you will need to know and adhere to. It can be very useful when entering a new market to get some guidance from companies that have already helped others to break into new audience geographies. If you want to start selling in Australia, then you’ll need to be aware of the local laws that limit your speed of growth, while branching out into Asian territories will require translation services and tighter protection of your assets. If you’re expanding into China, then you’ll need to become a limited liability company. A WFOE in China (Wholly Foreign-Owned Enterprise) is easy to arrange and can keep your business and your assets more securely protected. As an added benefit you can ensure that can quickly implement the strategy you have in mind.

Packaging and Shipping

This will form the most customer-facing element of your growing business, and you’re going to need to get it right if you want success. Your packaging will need to be localised, as will product user guides. This can increase your costs, so budgeting needs to be very firmly controlled. Remember as well that different countries have different speeds. Spanish businesses close down for siesta and may not be reachable on weekday afternoons, while German brands want prompt and precise service at all times. This means your customer service is going to need to address 24/7 availability. Momentum can be one of the main challenges of global business expansion which is why planning out each step of your growth and addressing every potential issue with a proactive solution is so critical.

To make overseas success more likely, you need to take a rigorous approach that includes research and action. Make sure that your infrastructure can cope with growth, and can be redirected into your new markets. You will need to take tight control over your costs, but with the potential profits that can come with global growth, it might be easier to balance those costs than you might think.

What is the appeal of Contract Hire?

Armed with its enticing benefits, it is no wonder Contract Hire is fast becoming a hot topic within the automotive industry AND an increasingly popular finance option! Simon Meredith, Business Development Manager of Chatsbrook, states that “Contract Hire represents an agreement between two parties to lease a vehicle (car or van) for a set time period (and mileage) at a fixed monthly cost. To explain it simply, Contract Hire operates in the same vein as your mobile phone contract- you pay a fixed amount every month for a set amount of time and at the end of the agreement you can look for another arrangement to enjoy the latest release.”

“Contract Hire (CH) has many advantages, although we have completed many personal signups for CH, we often find that this long-term rental agreement is favoured by VAT registered businesses such as sole traders, partnerships and limited companies. The main appeal for these types of businesses is that CH reduces the financial risk of owning a vehicle. For example, VAT registered businesses can claim back 50% of VAT on cars and 100% on vans- if the vehicle is solely used within the business then the asset can appear off-balance sheet meaning that you can claim it as a business expense! Secondly, CH protects you from depreciation since you never own it or have the responsibility to sell- you just hand it back at the end. Finally, there is an option to upgrade to a package that includes maintenance and repairs. Upgrading to this option can help to reduce unexpected motoring costs- all you would need to do is insure the car and pay for petrol!”

“Personal Contract Hire (PCH) is definitely a growing segment of the industry as it is a risk-free way to enjoy brand new cars every three or so years. The flexible contract duration and mileage rates ensure that the agreement is perfectly suited to all your requirements. Another benefit is that there is no large initial outlay for the vehicle, highlighting how PCH helps to make new vehicles financially viable and obtainable to individuals.”

With Contract Hire, you can enjoy incredible cars such as these…

Contact Click here to see.

If you have your heart set on a new car and are still not sure which finance arrangement could benefit you most, our friendly team would be happy to help! Call the office on 01603 733500 today!

If you’re running a small business, I am sure you would like to be able to continuously inspire your customers, increase sales and ensure good cashflow in your business. If you want to be a successful entrepreneur – why wouldn’t you want those things?!

When I first set up my business, I was unaware of many of the points that are discussed in this video. At the time, I thought people would naturally want to buy from me – I was wrong.

So I wanted to share these points with you now so that you can enjoy greater success with your own small business today.

The 4 tips outlined in this video will give you 4 simple strategies for how you can speak to your potential customers in person and through your marketing. I want you to be able to gain skills you need to talk emotively about your business in a way that inspires your customers.