2009 September | Sherie Griffiths

September 21, 2009

“Some International Trade Seminars And Resources”

Filed under: Uncategorised — Tags: Business Link, Businesslink, Eei, England International, Extensive Research, Financial Solutions, Global Trade Network, Gov Uk, Gtnetwork, Independent Person, International Trade Resources, International Trade Seminars, International Www, Inward Investment, Network Www, Overseas Businesses, Overseas Markets, Ray Stannard, Signpost, Ukti — sheriegriffiths.com @ 9:46 am

From Ray Stannard of International Trade Financial Solutions
Check out the new website at http://www.inttradefinsolns.co.uk

Below are details of some upcoming seminars which might be of interest to you if you’re looking to move into particular overseas markets, along with links to other more general international trade resources.

Global Trade Network – www.gtnetwork.co.uk – run periodicly, Country specific 1 day seminars. Future ones include Entering Russia [15th Oct] and Entering the European Market [26th Nov]. If you’re looking for new markets, or have identified possibilities, see if they have a seminar coming up. Costs and usually minimal and you also have the chance to set up a stand, for a small additional fee.

East of England International – www.eei-online.com – is part of UKTI and works with any business in the East of England who is looking to export as well as looking to attract overseas businesses/inward investment into the area. Again, they run regular workshops and seminars at minimal cost, often featuring specific regions.

Business Link East – www.businesslink.gov.uk/east – provide free business support advisors to any SME in the area and can be not only a useful independent person to bounce ideas off of, but can also help signpost you to other providers which will allow you to take your business onwards. They also have an extensive research department available.

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“Foreign Exchange Rates”

Filed under: Uncategorised — Tags: Benchmark, Business Link, Business Support, Businesslink, Eei, England International, Extensive Research, Financial Solutions, Foreign Exchange Rates, Free Business, Gov Uk, Independent Person, International Trade Seminars, International Www, Inward Investment, Overseas Businesses, Ray Stannard, Signpost, Sme, Ukti — sheriegriffiths.com @ 9:42 am

From Ray Stannard of International Trade Financial Solutions
Check out the new website at http://www.inttradefinsolns.co.uk

Next: “Some International Trade Seminars and Resources”.

There’s no charge as such when you buy/sell currency; it’s built into the exchange rate. However, it has been reported that some banks especially, have recently tweaked the rates on smaller deals and widened the margin, i.e. they are giving you a worse rate and taking a larger slice of commission for themselves. Almost impossible to prove, but it re-inforces the need for everyone to review their FX provider on a regular basis and ensure that you’re still getting acceptable rates. Benchmark and, if you’re not happy, move to someone who is better. Let me know: I can put you in touch with possible new providers.

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“The Companies Act 2006″

Filed under: Uncategorised — Tags: Accountant, Financial Solutions, Foreign Exchange Rates, International Trade, Ray Stannard, Tranches — sheriegriffiths.com @ 9:38 am

From Ray Stannard of International Trade Financial Solutions
Check out the new website at http://www.inttradefinsolns.co.uk

Next: “Foreign Exchange Rates”.

For those of you who run limited companies, 1st October sees the introduction of further tranches of the new Companies Act. Your Accountant should be letting you
know about this and what areas, if any may affect you. If he/she isn’t, you may want to find out why.

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“Beware Scams”

Filed under: Uncategorised — Tags: Closer To Home, Companies Act, Financial Solutions, Fraudster, International Trade, Patent, Ray Stannard, Recourse, Scams, Stock, Unknown Source — sheriegriffiths.com @ 9:37 am

From Ray Stannard of International Trade Financial Solutions
Check out the new website at http://www.inttradefinsolns.co.uk

Next: “Companies Act 2006”.

There are loads of scams as we all know, but here’s one that seems to be re-appearing. If you receive an order for 1 unit only of whatever from an unknown source, be careful if your product is one that can be copied. Historically, businesses would receive such a request, usually from the Far East, a market in which they were not active, often with payment up front. The goal of the buyer was to obtain a unit, then break it down and put it on the market at a lower cost, thereby undercutting you and taking your custom. Patent/IP rights should have protected you, but recourse would be through the legal system of whatever country the fraudster was based in – a lengthy, costly and worrying process. They seem to have got wise and now the order comes from somewhere
closer to home – still usually outside the UK/EU/N America – but areas where your guard may not be as high. Yes, we all like sales, but just take stock to consider
whether the order is as innocent as it seems.

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September 14, 2009

“Coaching Highlights – From the CIPD Annual Learning Report 2009″

Filed under: Uncategorised — Tags: Cipd, Coaching Mentoring, Company Performance, Deficiencies, Development Initiatives, Development Opportunity, Economy, Green Sea, Key Development, Management Activities, Management Development, Management Skills, Organisations, Performance Management, Positive News, Proportion, Respondents, Talent Management, Three Quarters, Two Thirds — sheriegriffiths.com @ 8:29 am

From Green Sea Coaching Ltd – http://www.greenseacoaching.com

With more positive news on the economy appearing in the press recently, many organizations are now beginning to look at how they can enhance the effectiveness of their key employees, leading to improved company performance. Recent findings from the CIPD suggest that coaching is a key development process being used to achieve this.

The use of coaching in learning and development has seen significant growth over the past few years and is perceived to be a very effective tool by many organisations. Indeed, more than two thirds of respondents to this survey make use of coaching within their organisation.

• The most widely used talent management activities are in-house development programmes (88%) and coaching (86%).
• Over two-thirds (69%) of respondents use coaching within their organisations.
• Coaching appears to have forged closer links with management development over the last year. Fifty-five per cent of respondents agree that coaching is part of
management development initiatives in their organisation, an increase of 8% on the last survey.
• While coaching may not be seen as a particularly formal process (only 36% say that in-depth training is provided to coaches), it is viewed positively by many.
Fifty-seven per cent agree that being a coachee is encouraged, and 62% feel that coaching is seen primarily as a positive development opportunity rather than a
remedial intervention.
• Over three-quarters (76%) of respondents believe there to be deficiencies in their organisation’s leadership and people management skills.
• A similar proportion believe there to be a shortage of skills applicable to coaching, mentoring and developing staff (75%) and performance management (74%).
• Of the talent management activities used by organisations, coaching came out as the most effective.

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September 9, 2009

September 8, 2009

Continuing the A-Z …

Filed under: Uncategorised — Tags: Advance Payment, Bank Collections, Beneficiary, Bifa, British International Freight Association, Financial Solutions, Freight Forwarders, Glossary Of Terms, Hmrc, International Film, International Freight Association, International Freight Services, International Trade, Letters Of Credit, Payment Bond, Performance Bond, Pros And Cons, Service Provision, Undertaking Contracts, Warehouses — sheriegriffiths.com @ 8:50 am

From International Trade Financial Solutions – www.inttradefinsolns.co.uk

Glossary of Terms – The “B’s”.

2 big B’s were covered last month, so we’ll mop up the rest this month. Nothing as complex this time round.

B. [continued]…

Bank Collections. More usually referred to as Collections, so I will include this under ‘C’.

Beneficiary. Pretty obvious, but included here as, under Letters of Credit, the Exporter is also known as the beneficiary of the Credit, a potential source of confusion. Think of it as the exporter being the beneficiary of the payment.

Bonded Warehouse. Specific warehouses authorised by HMRC where imported goods can be stored without payment of duty. However, duty must be paid before the associated goods can leave the warehouse. The use of bonded facilities can benefit those businesses whose goods are subject to duty insofar as the duty can be deferred, giving cashflow advantages. However, this has to be weighed up against the costs to store the goods in the first place.

BIFA – British International Freight Association. BIFA is the body representing the UK international freight services industry. Not all freight forwarders are BIFA members, and there are pros and cons of using one. However, what is important, whoever you use to move your goods, is to be totally satisfied with their service provision and have comfort that, if things do go wrong, they will work with you to resolve. Look at the BIFA website for more information and/or to find members – www.bifa.org N.B. If you accidentally click on www.bifa.org.uk you end up at the British International Film Association – do not get confused!

Bonds and Guarantees. Often associated with tendering and/or undertaking contracts overseas. In some countries, e.g. Middle East, it is common to have to provide a tender bond when tendering for a contract [especially state backed ones]; then a performance bond if you win. You may also need to provide an Advance Payment Bond in some circumstances. In all cases, the bond is issued on your behalf by your bank and basically gives the overseas party more confidence that you can undertake the contract in hand. If you do not, they will call upon the bond. Unless you are well versed in agreeing to having these issued, you should seek proper advice before you commit, as they can be costly, difficult to cancel and have other peculiarities. Note that, in some parts of the world, performance bonds have been replaced by Stand-by Letters of Credit. Also, the words ‘bond’ and ‘guarantee’ are to all intents interchangeable.

That’s the B’s – on to the C’s next month.

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September 7, 2009

Export Trade Markets

Filed under: Uncategorised — Tags: Business Link, Consular Staff, Counterparties, England International, European Markets, Export Trade, Finance Matters, Global Concern, Global Trade Network, Gtnetwork, Information Events, International Www, Itfs, Keynote Speaker, Network Www, Opening Doors, Shipping Agent, Trade Commissioner, Trade Markets, Trade Missions — sheriegriffiths.com @ 8:06 am

“From International Trade Financial Solutions – http://www.inttradefinsolns.co.uk”

Did you know that there’s a lot of help for exporters and would be exporters in finding new markets throughout the world from the likes of UKTI and various other bodies?

Trade Missions, sponsored at national and local level, can be a good way not only of visiting a specific country, but with the backing of UK plc. Often this will include the help and services of the local embassy/consular staff and can do wonders in opening doors. And no, you do not have to be a multi million £ global concern; I’ve known small, local businesses who’ve been on them and found them invaluable.

Remember that it is always a good idea to keep in regular contact with your counterparties, and what better way to impress them than to be part of an official UK led tour? Yes, there are costs, but often these can be subsidised, even on a matched funding basis in some cases. If you already deal with Business Link or East of England international [ www.eei-online.com ], speak to them and see if there’s anything coming up for the country/countries that you are looking at.
There are also regular UK based trade information events given by various parties – one example being Global Trade Network – www.gtnetwork.co.uk. In the coming months, they have evening seminars in the South East on S Africa, Russia and European markets. The S African one, for example, costs £15 per delegate and is being held in September in Luton with the UK Trade Commissioner for S Africa being the keynote speaker.

So why not make some enquiries – you may be surprised at what help there is available in finding new overseas contacts and, once you’ve done that, don’t forget to sort out the finance matters by asking ITFS to advise you, as well as ensuring that, if you are dealing in goods, your shipping agent covers any new markets into which you are venturing.

Good Luck!

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September 4, 2009

ESSENTIAL TAX DATES AND DEADLINES

Filed under: Uncategorised — Tags: 31 August, Branston, Chartered Certified Accountants, Quarterly Period, Tax Dates, Year End — sheriegriffiths.com @ 9:14 am

“From Branston Adams (Chartered & Certified Accountants) – http://www.branstonadams.co.uk

31 August: Annual adjustment for VAT partial exemption calculations (May VAT year end).

30 September: End of CT61 quarterly period.

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September 3, 2009

Scrappage hailed ‘a success’ as scheme reaches half-way mark

Filed under: Uncategorised — Tags: Berr, Branston, Budget, Business Innovation, Chartered Certified Accountants, Closing Date, Early November, Gov Uk, Initiative, Led, Mandelson, Motor Manufacturers, New Cars, New Vehicles, Popularity, Scrappage Scheme, Society Of Motor Manufacturers And Traders, Subsidy, Success, Uk Registration — sheriegriffiths.com @ 9:43 am

From Branston Adams (Chartered & Certified Accountants) – http://www.branstonadams.co.uk

The Government’s Vehicle Scrappage scheme was hailed a success as the number of cars purchased under the initiative surpassed the half-way mark this month.

Official figures have revealed that over 175,000 new cars have been ordered since the announcement of the scheme in the 2009 Budget. This means that more than half of the funding ring-fenced for the scheme has now been exhausted.

The Government put aside £300 million for the scheme, enough to fund 300,000 transactions. However, the Society of Motor Manufacturers and Traders predicts that funding will run out well in advance of the original closing date of 28 February 2010, and possibly by ‘the end of October, early November’. Individuals and businesses wishing to take advantage of the scheme have therefore been advised to act quickly.

Following the news, Business Secretary Lord Mandelson said the scheme was ‘a great deal for manufacturers and dealers, not to mention customers’.

Its popularity has led to a 13.5% rise in car manufacturing, Mandelson confirmed, with the South-East of England seeing the highest take-up (18% of total scrappage sales).

The so-called ‘cash for bangers’ initiative offers a £1,000 subsidy, per vehicle, from the Department for Business, Innovation and Skills, matched by a further £1,000 subsidy from the manufacturer. The subsidy is in addition to any other subsidy or discount offered by the manufacturer or dealer.

The old and new vehicles are subject to a number of conditions, including restrictions relating to their weight, date of UK registration, registered keeper, and length of ownership. A full list of conditions is available from the BIS (visit www.berr.gov.uk.)

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